BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Financial Information for Assets and Liabilities of Businesses Held for Sale

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE (In millions)	March 31, 2019			December 31, 2018
Assets
Investment securities	$	28		$	—
Current receivables(a)	506			184
Inventories	953			529
Property, plant, and equipment – net and Operating lease right-of-use assets	1,075			423
Goodwill and Other intangible assets - net	6,601			884
Valuation allowance on disposal group classified as held for sale(b)	(935		)	(1,013		)
Deferred tax asset	942			—
Other assets	739			623
Assets of businesses held for sale	$	9,910		$	1,630
Liabilities
Accounts payable and Progress collections and deferred income(a)	$	927		$	428
Non-current compensation and benefits	539			152
Other liabilities	334			128
Liabilities of businesses held for sale	$	1,801		$	708

(a) Includes GE current receivables sold to GE Capital of $308 million and $105 million at March 31, 2019 and December 31, 2018, respectively, and GE accounts payable for material procurement with GE Capital of $38 million and $40 million at March 31, 2019 and December 31, 2018, respectively. These intercompany balances, included within our held for sale businesses, are reported in the GE and GE Capital columns of our financial statements, and are eliminated in deriving our consolidated financial statements.

(b) In the first quarter of 2019, we reduced the valuation allowance for certain held for sale businesses by $32 million.

Financial Information for Discontinued Operations

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS (In millions)	Three months ended March 31
	2019			2018
Operations
Sales of goods and services	$	549		$	872
GE Capital revenues and other income (loss)	39			(1,472		)	(a)
Cost of goods and services sold	(478		)	(615		)
Other costs and expenses	(84		)	(224		)
Earnings (loss) of discontinued operations before income taxes	$	26		$	(1,439	)
Benefit (provision) for income taxes	13			(5		)
Earnings (loss) of discontinued operations, net of taxes	$	39		$	(1,444	)
Disposal
Gain (loss) on disposal before income taxes	$	3,518		$	4
Benefit (provision) for income taxes	(964		)	(1		)
Gain (loss) on disposal, net of taxes	$	2,553		$	3
Earnings (loss) from discontinued operations, net of taxes	$	2,592		$	(1,441	)
Gains (loss) on disposals, net of taxes - Transportation	2,508			—
Gains (loss) on disposals, net of taxes - Capital	45			3
Earnings (loss) from discontinued operations, net of taxes - Transportation	2,557			112
Earnings (loss) from discontinued operations, net of taxes - Capital	35			(1,553		)

(a) Included a $1,500 million charge related to the DOJ investigation of potential violations of FIRREA by WMC and GE Capital.

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS (In millions)	March 31, 2019		December 31, 2018
Assets
Cash, cash equivalents and restricted cash	$	598	$	701
Investment securities	204		195
Current receivables	149		389
Inventories	—		832
Financing receivables held for sale	2,656		2,745
Property, plant and equipment - net and Operating lease right-of-use assets	152		910
Goodwill and Intangible assets - net	—		1,146
Deferred income taxes	513		1,175
All other assets	188		1,163
Assets of discontinued operations	$	4,459	$	9,257	(a)
Liabilities
Accounts payable and Progress collections and deferred income	$	53	$	1,248
Operating lease liabilities	250		0
Other GE current liabilities	125		590
All other liabilities	1,215		1,909
Liabilities of discontinued operations	$	1,643	$	3,747	(a)

(a) Included $4,573million of assets and $1,871 million of liabilities related to our Transportation business as of December 31, 2018, which we classified as discontinued operations in the first quarter of 2019.