GUARANTOR FINANCIAL INFORMATION |
NOTE 22. GUARANTOR FINANCIAL INFORMATION
GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL INFORMATION
On October 26, 2015, GE Capital International Funding Company Unlimited Company, formerly GE Capital International Funding Company (the Issuer), then a finance subsidiary of General Electric Capital Corporation, settled its previously announced private offers to exchange (the Exchange Offers) the Issuer’s new senior unsecured notes for certain outstanding debt securities of General Electric Capital Corporation.
The new notes that were issued were fully and unconditionally, jointly and severally guaranteed by both the Company and GE Capital International Holdings Limited (GECIHL) (each a Guarantor, and together, the Guarantors).
Under the terms of a registration rights agreement entered into in connection with the Exchange Offers, the Issuer and the Company agreed to file a registration statement with the U.S. Securities and Exchange Commission (SEC) for an offer to exchange new senior notes of the Issuer registered with the SEC and guaranteed by the Guarantors for certain of the Issuer’s outstanding unregistered senior notes. This exchange was completed in July 2016.
PRESENTATION
In connection with the registration of the senior notes, the Company is required to provide certain financial information regarding the Issuer and the Guarantors of the registered securities. Included are the Condensed Consolidating Statements of Earnings and Comprehensive Income for the three and six months ended June 30, 2018 and 2017, Condensed Consolidating Statements of Financial Position as of June 30, 2018 and December 31, 2017 and Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2018 and 2017 for:
| | • | General Electric Company (the Parent Company Guarantor) - prepared with investments in subsidiaries accounted for under the equity method of accounting and excluding any inter-segment eliminations; |
| | • | GE Capital International Funding Company Unlimited Company (the Subsidiary Issuer) – finance subsidiary for debt; |
| | • | GE Capital International Holdings Limited (GECIHL) (the Subsidiary Guarantor) - prepared with investments in non-guarantor subsidiaries accounted for under the equity method of accounting; |
| | • | Non-Guarantor Subsidiaries - prepared on an aggregated basis excluding any elimination or consolidation adjustments and includes predominantly all non-cash adjustments for cash flows; |
| | • | Consolidating Adjustments - adjusting entries necessary to consolidate the Parent Company Guarantor with the Subsidiary Issuer, the Subsidiary Guarantor and Non-Guarantor Subsidiaries and in the comparative periods, this category includes the impact of new accounting policies adopted as described in Note 1 ; and |
| | • | Consolidated - prepared on a consolidated basis. |
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS) | FOR THE THREE MONTHS ENDED JUNE 30, 2018 (UNAUDITED) | | (in millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Revenues | | | | | | | Sales of goods and services | $ | 7,947 |
| $ | — |
| $ | — |
| $ | 41,000 |
| $ | (20,854 | ) | $ | 28,093 |
| GE Capital revenues from services | — |
| 233 |
| 326 |
| 2,593 |
| (1,141 | ) | 2,011 |
| Total revenues | 7,947 |
| 233 |
| 326 |
| 43,593 |
| (21,995 | ) | 30,104 |
| | | | | | | | Costs and expenses | | | | | | | Interest and other financial charges | 1,868 |
| 230 |
| 617 |
| 1,381 |
| (2,801 | ) | 1,295 |
| Other costs and expenses | 11,692 |
| — |
| — |
| 38,372 |
| (21,722 | ) | 28,341 |
| Total costs and expenses | 13,560 |
| 230 |
| 617 |
| 39,753 |
| (24,523 | ) | 29,636 |
| Other income (loss) | 1,621 |
| — |
| — |
| 2,970 |
| (3,727 | ) | 864 |
| Equity in earnings (loss) of affiliates | 4,442 |
| — |
| (127 | ) | 12,249 |
| (16,563 | ) | — |
| Earnings (loss) from continuing operations before income taxes | 450 |
| 3 |
| (418 | ) | 19,059 |
| (17,763 | ) | 1,331 |
| Benefit (provision) for income taxes | 471 |
| — |
| — |
| (1,162 | ) | 150 |
| (542 | ) | Earnings (loss) from continuing operations | 921 |
| 3 |
| (418 | ) | 17,897 |
| (17,613 | ) | 789 |
| Earnings (loss) from discontinued operations, net of taxes | (121 | ) | — |
| (63 | ) | — |
| 63 |
| (121 | ) | Net earnings (loss) | 800 |
| 3 |
| (482 | ) | 17,897 |
| (17,550 | ) | 669 |
| Less net earnings (loss) attributable to noncontrolling interests | — |
| — |
| — |
| (116 | ) | (16 | ) | (132 | ) | Net earnings (loss) attributable to the Company | 800 |
| 3 |
| (482 | ) | 18,013 |
| (17,534 | ) | 800 |
| Other comprehensive income (loss) | (571 | ) | — |
| (94 | ) | (2,509 | ) | 2,603 |
| (571 | ) | Comprehensive income (loss) attributable to the Company | $ | 229 |
| $ | 3 |
| $ | (575 | ) | $ | 15,503 |
| $ | (14,931 | ) | $ | 229 |
|
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS) | FOR THE THREE MONTHS ENDED JUNE 30, 2017 (UNAUDITED) | | (in millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Revenues | | | | | | | Sales of goods and services | $ | 8,080 |
| $ | — |
| $ | — |
| $ | 37,615 |
| $ | (18,621 | ) | $ | 27,075 |
| GE Capital revenues from services | — |
| 173 |
| 188 |
| 2,589 |
| (928 | ) | 2,022 |
| Total revenues | 8,080 |
| 173 |
| 188 |
| 40,204 |
| (19,549 | ) | 29,097 |
| | | | | | | | Costs and expenses | | | | | | | Interest and other financial charges | 767 |
| 159 |
| 489 |
| 1,221 |
| (1,463 | ) | 1,174 |
| Other costs and expenses | 8,571 |
| — |
| 9 |
| 37,570 |
| (19,023 | ) | 27,126 |
| Total costs and expenses | 9,338 |
| 159 |
| 497 |
| 38,791 |
| (20,486 | ) | 28,300 |
| Other income (loss) | 57 |
| — |
| — |
| 28,005 |
| (27,732 | ) | 330 |
| Equity in earnings (loss) of affiliates | 2,028 |
| — |
| 450 |
| 13,982 |
| (16,460 | ) | — |
| Earnings (loss) from continuing operations before income taxes | 828 |
| 14 |
| 141 |
| 43,400 |
| (43,255 | ) | 1,127 |
| Benefit (provision) for income taxes | 375 |
| (2 | ) | — |
| (230 | ) | (105 | ) | 38 |
| Earnings (loss) from continuing operations | 1,203 |
| 12 |
| 141 |
| 43,170 |
| (43,361 | ) | 1,164 |
| Earnings (loss) from discontinued operations, net of taxes | (146 | ) | — |
| (5 | ) | 3 |
| 2 |
| (146 | ) | Net earnings (loss) | 1,057 |
| 12 |
| 136 |
| 43,172 |
| (43,359 | ) | 1,019 |
| Less net earnings (loss) attributable to noncontrolling interests | — |
| — |
| — |
| 16 |
| (54 | ) | (38 | ) | Net earnings (loss) attributable to the Company | 1,057 |
| 12 |
| 136 |
| 43,156 |
| (43,304 | ) | 1,057 |
| Other comprehensive income (loss) | 1,309 |
| — |
| 32 |
| (25,537 | ) | 25,505 |
| 1,309 |
| Comprehensive income (loss) attributable to the Company | $ | 2,366 |
| $ | 12 |
| $ | 168 |
| $ | 17,619 |
| $ | (17,799 | ) | $ | 2,366 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS) | FOR THE SIX MONTHS ENDED JUNE 30, 2018 (UNAUDITED) | | (in millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Revenues | | | | | | | Sales of goods and services | $ | 15,651 |
| $ | — |
| $ | — |
| $ | 78,980 |
| $ | (39,664 | ) | $ | 54,967 |
| GE Capital revenues from services | — |
| 441 |
| 551 |
| 4,151 |
| (1,346 | ) | 3,797 |
| Total revenues and other income (loss) | 15,651 |
| 441 |
| 551 |
| 83,131 |
| (41,010 | ) | 58,764 |
| | | | | | | | Costs and expenses | | | | | | | Interest and other financial charges | 3,248 |
| 436 |
| 1,164 |
| 2,645 |
| (4,912 | ) | 2,580 |
| Other costs and expenses | 19,829 |
| — |
| — |
| 76,515 |
| (40,835 | ) | 55,509 |
| Total costs and expenses | 23,077 |
| 436 |
| 1,163 |
| 79,160 |
| (45,746 | ) | 58,089 |
| Other income (loss) | 1,896 |
| — |
| — |
| 1,097 |
| (1,924 | ) | 1,069 |
| Equity in earnings (loss) of affiliates | 7,034 |
| — |
| 493 |
| 12,090 |
| (19,617 | ) | — |
| Earnings (loss) from continuing operations before income taxes | 1,503 |
| 5 |
| (119 | ) | 17,159 |
| (16,804 | ) | 1,744 |
| Benefit (provision) for income taxes | (177 | ) | (1 | ) | — |
| (562 | ) | 225 |
| (515 | ) | Earnings (loss) from continuing operations | 1,326 |
| 4 |
| (119 | ) | 16,596 |
| (16,579 | ) | 1,229 |
| Earnings (loss) from discontinued operations, net of taxes | (1,673 | ) | — |
| (81 | ) | 1 |
| 79 |
| (1,673 | ) | Net earnings (loss) | (347 | ) | 4 |
| (200 | ) | 16,597 |
| (16,500 | ) | (444 | ) | Less net earnings (loss) attributable to noncontrolling interests | — |
| — |
| — |
| (121 | ) | 24 |
| (98 | ) | Net earnings (loss) attributable to the Company | (347 | ) | 4 |
| (200 | ) | 16,719 |
| (16,523 | ) | (347 | ) | Other comprehensive income (loss) | 971 |
| — |
| (55 | ) | (1,631 | ) | 1,686 |
| 971 |
| Comprehensive income (loss) attributable to the Company | $ | 625 |
| $ | 4 |
| $ | (254 | ) | $ | 15,087 |
| $ | (14,837 | ) | $ | 625 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS) | FOR THE SIX MONTHS ENDED JUNE 30, 2017 (UNAUDITED) | | (in millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Revenues | | | | | | | Sales of goods and services | $ | 16,872 |
| $ | — |
| $ | — |
| $ | 73,705 |
| $ | (38,886 | ) | $ | 51,691 |
| GE Capital revenues from services | — |
| 329 |
| 374 |
| 4,859 |
| (1,275 | ) | 4,286 |
| Total revenues and other income (loss) | 16,872 |
| 329 |
| 374 |
| 78,564 |
| (40,161 | ) | 55,978 |
| | | | | | | | Costs and expenses | | | | | | | Interest and other financial charges | 1,677 |
| 309 |
| 943 |
| 2,303 |
| (2,920 | ) | 2,313 |
| Other costs and expenses | 18,200 |
| — |
| 22 |
| 73,510 |
| (38,615 | ) | 53,118 |
| Total costs and expenses | 19,877 |
| 309 |
| 965 |
| 75,813 |
| (41,534 | ) | 55,431 |
| Other income (loss) | 111 |
| — |
| — |
| 32,625 |
| (32,209 | ) | 527 |
| Equity in earnings (loss) of affiliates | 3,736 |
| — |
| 692 |
| 50,664 |
| (55,093 | ) | — |
| Earnings (loss) from continuing operations before income taxes | 843 |
| 20 |
| 101 |
| 86,040 |
| (85,929 | ) | 1,074 |
| Benefit (provision) for income taxes | 519 |
| (2 | ) | 115 |
| (699 | ) | 210 |
| 142 |
| Earnings (loss) from continuing operations | 1,362 |
| 17 |
| 215 |
| 85,341 |
| (85,719 | ) | 1,217 |
| Earnings (loss) from discontinued operations, net of taxes | (388 | ) | — |
| 278 |
| 3 |
| (278 | ) | (385 | ) | Net earnings (loss) | 974 |
| 17 |
| 493 |
| 85,344 |
| (85,997 | ) | 832 |
| Less net earnings (loss) attributable to noncontrolling interests | — |
| — |
| — |
| (32 | ) | (110 | ) | (142 | ) | Net earnings (loss) attributable to the Company | 974 |
| 17 |
| 493 |
| 85,377 |
| (85,887 | ) | 974 |
| Other comprehensive income (loss) | 3,131 |
| — |
| 649 |
| (26,994 | ) | 26,345 |
| 3,131 |
| Comprehensive income (loss) attributable to the Company | $ | 4,105 |
| $ | 17 |
| $ | 1,142 |
| $ | 58,383 |
| $ | (59,542 | ) | $ | 4,105 |
|
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION | JUNE 30, 2018 (UNAUDITED) | | (In millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Assets | | | | | | | Cash, cash equivalents and restricted cash | $ | 1,852 |
| $ | — |
| $ | 3 |
| $ | 26,452 |
| $ | (634 | ) | $ | 27,674 |
| Investment securities | — |
| — |
| — |
| 37,429 |
| (818 | ) | 36,611 |
| Receivables - net | 38,831 |
| 17,348 |
| 32,799 |
| 78,684 |
| (131,976 | ) | 35,686 |
| Inventories | 4,790 |
| — |
| — |
| 21,093 |
| (5,411 | ) | 20,473 |
| Property, plant and equipment - net | 5,816 |
| — |
| — |
| 46,488 |
| (1,438 | ) | 50,866 |
| Investment in subsidiaries(a) | 281,298 |
| — |
| 78,171 |
| 724,902 |
| (1,084,371 | ) | — |
| Goodwill and intangible assets | 8,374 |
| — |
| — |
| 88,376 |
| 5,443 |
| 102,193 |
| All other assets | 9,503 |
| 16 |
| 19 |
| 225,997 |
| (171,321 | ) | 64,214 |
| Assets of discontinued operations | — |
| — |
| — |
| — |
| 5,053 |
| 5,053 |
| Total assets | $ | 350,465 |
| $ | 17,364 |
| $ | 110,991 |
| $ | 1,249,421 |
| $ | (1,385,473 | ) | $ | 342,769 |
| | | | | | | | Liabilities and equity | | | | | | | Short-term borrowings | $ | 167,290 |
| $ | — |
| $ | 47,189 |
| $ | 12,832 |
| $ | (212,892 | ) | $ | 14,419 |
| Accounts payable | 12,833 |
| — |
| — |
| 49,954 |
| (47,762 | ) | 15,026 |
| Other current liabilities | 11,270 |
| 9 |
| 3 |
| 32,525 |
| (6,885 | ) | 36,922 |
| Long-term and non-recourse borrowings | 62,642 |
| 15,912 |
| 35,007 |
| 49,529 |
| (61,936 | ) | 101,154 |
| All other liabilities | 41,361 |
| 422 |
| 154 |
| 66,957 |
| (10,724 | ) | 98,169 |
| Liabilities of discontinued operations | — |
| — |
| — |
| — |
| 1,949 |
| 1,949 |
| Total Liabilities | 295,396 |
| 16,343 |
| 82,352 |
| 211,797 |
| (338,249 | ) | 267,639 |
| | | | | | | | Redeemable noncontrolling interests | — |
| — |
| — |
| 2,513 |
| 862 |
| 3,376 |
| | | | | | | | GE shareowners' equity | 55,069 |
| 1,021 |
| 28,639 |
| 1,033,711 |
| (1,063,371 | ) | 55,069 |
| Noncontrolling interests | — |
| — |
| — |
| 1,400 |
| 15,285 |
| 16,685 |
| Total equity | 55,069 |
| 1,021 |
| 28,639 |
| 1,035,111 |
| (1,048,086 | ) | 71,754 |
| Total liabilities, redeemable noncontrolling interests and equity | $ | 350,465 |
| $ | 17,364 |
| $ | 110,991 |
| $ | 1,249,421 |
| $ | (1,385,473 | ) | $ | 342,769 |
|
| | (a) | Included within the subsidiaries of the Subsidiary Guarantor are cash and cash equivalent balances of $8,819 million and net assets of discontinued operations of $3,329 million. |
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION | DECEMBER 31, 2017 | | (In millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Assets | | | | | | | Cash, cash equivalents and restricted cash | $ | 3,472 |
| $ | — |
| $ | 3 |
| $ | 41,236 |
| $ | (743 | ) | $ | 43,967 |
| Investment securities | 1 |
| — |
| — |
| 39,809 |
| (1,113 | ) | 38,696 |
| Receivables - net | 50,923 |
| 17,316 |
| 32,381 |
| 87,776 |
| (147,551 | ) | 40,846 |
| Inventories | 4,587 |
| — |
| — |
| 22,215 |
| (7,383 | ) | 19,419 |
| Property, plant and equipment - net | 5,808 |
| — |
| — |
| 48,516 |
| (450 | ) | 53,874 |
| Investment in subsidiaries(a) | 277,929 |
| — |
| 77,488 |
| 715,936 |
| (1,071,353 | ) | — |
| Goodwill and intangible assets | 8,014 |
| — |
| — |
| 90,226 |
| 6,002 |
| 104,242 |
| All other assets | 30,737 |
| 16 |
| 32 |
| 236,771 |
| (205,269 | ) | 62,288 |
| Assets of discontinued operations | — |
| — |
| — |
| — |
| 5,912 |
| 5,912 |
| Total assets | $ | 381,472 |
| $ | 17,332 |
| $ | 109,904 |
| $ | 1,282,485 |
| $ | (1,421,948 | ) | $ | 369,245 |
| | | | | | | | Liabilities and equity | | | | | | | Short-term borrowings | $ | 191,807 |
| $ | — |
| $ | 46,033 |
| $ | 22,603 |
| $ | (236,407 | ) | $ | 24,036 |
| Accounts payable | 8,126 |
| — |
| — |
| 77,509 |
| (70,462 | ) | 15,172 |
| Other current liabilities | 11,892 |
| 8 |
| 3 |
| 28,218 |
| (34 | ) | 40,088 |
| Long-term and non-recourse borrowings | 71,023 |
| 16,632 |
| 34,730 |
| 55,367 |
| (67,197 | ) | 110,556 |
| All other liabilities | 42,594 |
| 475 |
| 128 |
| 66,293 |
| (7,694 | ) | 101,797 |
| Liabilities of discontinued operations | — |
| — |
| — |
| — |
| 706 |
| 706 |
| Total Liabilities | 325,442 |
| 17,116 |
| 80,894 |
| 249,991 |
| (381,088 | ) | 292,355 |
| | | | | | | | Redeemable noncontrolling interests | — |
| — |
| — |
| 2,627 |
| 764 |
| 3,391 |
| | | | | | | | GE shareowners' equity | 56,030 |
| 216 |
| 29,010 |
| 1,028,311 |
| (1,057,537 | ) | 56,030 |
| Noncontrolling interests | — |
| — |
| — |
| 1,556 |
| 15,912 |
| 17,468 |
| Total equity | 56,030 |
| 216 |
| 29,010 |
| 1,029,867 |
| (1,041,625 | ) | 73,498 |
| Total liabilities, redeemable noncontrolling interests and equity | $ | 381,472 |
| $ | 17,332 |
| $ | 109,904 |
| $ | 1,282,485 |
| $ | (1,421,948 | ) | $ | 369,245 |
|
| | (a) | Included within the subsidiaries of the Subsidiary Guarantor are cash and cash equivalent balances of $15,225 million and net assets of discontinued operations of $4,318 million. |
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | SIX MONTHS ENDED JUNE 30, 2018 (UNAUDITED) | | | | | | | | (In millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Cash flows – operating activities | | | | | | | Cash from (used for) operating activities - continuing operations | $ | 12,625 |
| $ | (268 | ) | $ | (117 | ) | $ | 8,330 |
| $ | (18,330 | ) | $ | 2,240 |
| Cash from (used for) operating activities - discontinued operations | (1,673 | ) | — |
| — |
| 1,381 |
| (1 | ) | (293 | ) | Cash from (used for) operating activities | 10,952 |
| (268 | ) | (117 | ) | 9,711 |
| (18,331 | ) | 1,947 |
| | | | | | | | Cash flows – investing activities | | | | | | | Cash from (used for) investing activities – continuing operations | 12,523 |
| 268 |
| (882 | ) | (22,097 | ) | 12,852 |
| 2,665 |
| Cash from (used for) investing activities – discontinued operations | — |
| — |
| — |
| 151 |
| — |
| 151 |
| Cash from (used for) investing activities | 12,523 |
| 268 |
| (882 | ) | (21,946 | ) | 12,852 |
| 2,816 |
| | | | | | | | Cash flows – financing activities | | | | | | | Cash from (used for) financing activities – continuing operations | (25,094 | ) | — |
| 999 |
| (2,406 | ) | 5,588 |
| (20,913 | ) | Cash from (used for) financing activities – discontinued operations | — |
| — |
| — |
| — |
| — |
| — |
| Cash from (used for) financing activities | (25,094 | ) | — |
| 999 |
| (2,406 | ) | 5,588 |
| (20,913 | ) | Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | — |
| — |
| — |
| (285 | ) | — |
| (285 | ) | Increase (decrease) in cash, cash equivalents and restricted cash | (1,620 | ) | — |
| — |
| (14,926 | ) | 110 |
| (16,436 | ) | Cash, cash equivalents and restricted cash at beginning of year | 3,472 |
| — |
| 3 |
| 41,993 |
| (743 | ) | 44,724 |
| Cash, cash equivalents and restricted cash at June 30 | 1,852 |
| — |
| 3 |
| 27,067 |
| (634 | ) | 28,288 |
| Less cash, cash equivalents and restricted cash of discontinued operations at June 30 | — |
| — |
| — |
| (615 | ) | — |
| (615 | ) | Cash, cash equivalents and restricted cash of continuing operations at June 30 | $ | 1,852 |
| $ | — |
| $ | 3 |
| $ | 26,452 |
| $ | (634 | ) | $ | 27,674 |
|
| | | | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | SIX MONTHS ENDED JUNE 30, 2017 (UNAUDITED) | | | | | | | | (In millions) | Parent Company Guarantor |
| Subsidiary Issuer |
| Subsidiary Guarantor |
| Non- Guarantor Subsidiaries |
| Consolidating Adjustments |
| Consolidated |
| | | | | | | | Cash flows – operating activities | | | | | | | Cash from (used for) operating activities - continuing operations | $ | 10,330 |
| $ | 25 |
| $ | 225 |
| $ | 105,269 |
| $ | (112,919 | ) | $ | 2,930 |
| Cash from (used for) operating activities - discontinued operations | (388 | ) | — |
| — |
| (507 | ) | — |
| (895 | ) | Cash from (used for) operating activities | 9,942 |
| 25 |
| 225 |
| 104,761 |
| (112,919 | ) | 2,035 |
| | | | | | | | Cash flows – investing activities | | | | | | | Cash from (used for) investing activities – continuing operations | (24,692 | ) | (25 | ) | 608 |
| (52,457 | ) | 80,963 |
| 4,397 |
| Cash from (used for) investing activities – discontinued operations | — |
| — |
| — |
| (2,089 | ) | — |
| (2,089 | ) | Cash from (used for) investing activities | (24,692 | ) | (25 | ) | 608 |
| (54,545 | ) | 80,963 |
| 2,309 |
| | | | | | | | Cash flows – financing activities | | | | | | | Cash from (used for) financing activities – continuing operations | 16,447 |
| — |
| (833 | ) | (60,697 | ) | 32,994 |
| (12,089 | ) | Cash from (used for) financing activities – discontinued operations | — |
| — |
| — |
| 1,909 |
| — |
| 1,909 |
| Cash from (used for) financing activities | 16,447 |
| — |
| (833 | ) | (58,789 | ) | 32,994 |
| (10,181 | ) | Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | — |
| — |
| — |
| 538 |
| — |
| 538 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,697 |
| — |
| 1 |
| (8,035 | ) | 1,037 |
| (5,299 | ) | Cash, cash equivalents and restricted cash at beginning of year | 2,729 |
| — |
| 41 |
| 49,204 |
| (1,590 | ) | 50,384 |
| Cash, cash equivalents and restricted cash at June 30 | 4,426 |
| — |
| 42 |
| 41,169 |
| (552 | ) | 45,085 |
| Less cash, cash equivalents and restricted cash of discontinued operations at June 30 | — |
| — |
| — |
| 526 |
| — |
| 526 |
| Cash, cash equivalents and restricted cash of continuing operations at June 30 | $ | 4,426 |
| $ | — |
| $ | 42 |
| $ | 40,643 |
| $ | (552 | ) | $ | 44,559 |
|
|