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GUARANTOR FINANCIAL INFORMATION
9 Months Ended
Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
GUARANTOR FINANCIAL INFORMATION
NOTE 22. GUARANTOR FINANCIAL INFORMATION
GE Capital International Funding Company Unlimited Company (the Issuer) previously issued senior unsecured registered notes that are fully and unconditionally, jointly and severally guaranteed by both the Company and GE Capital International Holdings Limited (each a Guarantor, and together, the Guarantors). The Company is required to provide certain financial information regarding the Issuer and the Guarantors of the registered securities, specifically Condensed Consolidating Statements of Earnings and Comprehensive Income, Condensed Consolidating Statements of Financial Position and Condensed Consolidating Statements of Cash Flows 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 that issued the guaranteed notes 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 SEPTEMBER 30, 2019 (UNAUDITED)
 
(In millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Sales of goods and services
$
7,169

$

$

$
31,413

$
(17,077
)
$
21,504

GE Capital revenues from services

245

(18
)
2,107

(477
)
1,856

Total revenues
7,169

245

(18
)
33,519

(17,554
)
23,360

 
 
 
 
 
 
 
Interest and other financial charges
634

272

356

148

(132
)
1,279

Other costs and expenses
4,945


(38
)
40,629

(22,048
)
23,488

Total costs and expenses
5,580

272

318

40,777

(22,180
)
24,767

Other income (loss)
1,320



4,458

(5,619
)
158

Equity in earnings (loss) of affiliates
(4,476
)

(37
)
31,207

(26,695
)

Earnings (loss) from continuing operations before income taxes
(1,567
)
(27
)
(373
)
28,406

(27,688
)
(1,249
)
Benefit (provision) for income taxes
(386
)
3


339

3

(41
)
Earnings (loss) from continuing operations
(1,953
)
(24
)
(373
)
28,745

(27,685
)
(1,290
)
Earnings (loss) from discontinued operations, net of taxes
683


40


(8,817
)
(8,093
)
Net earnings (loss)
(1,270
)
(24
)
(333
)
28,745

(36,502
)
(9,383
)
Less net earnings (loss) attributable to noncontrolling interests



(7
)
46

40

Net earnings (loss) attributable to the Company
(1,270
)
(24
)
(333
)
28,752

(36,548
)
(9,423
)
Other comprehensive income (loss)
1,491


(1
)
1,313

(1,312
)
1,491

Comprehensive income (loss) attributable to the Company
$
221

$
(24
)
$
(334
)
$
30,064

$
(37,860
)
$
(7,931
)
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (UNAUDITED)
 
(in millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Sales of goods and services
$
7,301

$

$

$
30,387

$
(16,407
)
$
21,282

GE Capital revenues from services

237

300

2,508

(936
)
2,110

Total revenues
7,301

237

300

32,895

(17,342
)
23,392

 
 
 
 
 
 
 
Interest and other financial charges
451

236

725

553

(810
)
1,155

Other costs and expenses
11,780



25,345

8,352

45,478

Total costs and expenses
12,231

236

725

25,898

7,542

46,633

Other income (loss)
1,193



1,217

(2,132
)
279

Equity in earnings (loss) of affiliates
(11,235
)

705

28,378

(17,849
)

Earnings (loss) from continuing operations before income taxes
(14,971
)
2

281

36,593

(44,866
)
(22,962
)
Benefit (provision) for income taxes
224



(536
)
260

(52
)
Earnings (loss) from continuing operations
(14,748
)
1

281

36,057

(44,606
)
(23,014
)
Earnings (loss) from discontinued operations, net of taxes
39


18


98

155

Net earnings (loss)
(14,708
)
1

298

36,057

(44,508
)
(22,859
)
Less net earnings (loss) attributable to noncontrolling interests



(81
)
(9
)
(90
)
Net earnings (loss) attributable to the Company
(14,708
)
1

298

36,138

(44,498
)
(22,769
)
Other comprehensive income (loss)
203


12

(751
)
739

203

Comprehensive income (loss) attributable to the Company
$
(14,505
)
$
1

$
310

$
35,387

$
(43,759
)
$
(22,566
)
 
 
 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 (UNAUDITED)
 
(in millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Sales of goods and services
$
19,993

$

$

$
95,009

$
(51,871
)
$
63,132

GE Capital revenues from services

724

68

6,738

(1,685
)
5,845

Total revenues
19,993

724

68

101,747

(53,556
)
68,976

 
 
 
 
 
 
 
Interest and other financial charges
1,278

744

1,068

899

(716
)
3,272

Other costs and expenses
18,377



85,378

(36,458
)
67,296

Total costs and expenses
19,654

744

1,068

86,276

(37,174
)
70,568

Other income (loss)
(1,894
)


12,588

(9,524
)
1,170

Equity in earnings (loss) of affiliates
(4,430
)

808

58,383

(54,761
)

Earnings (loss) from continuing operations before income taxes
(5,985
)
(20
)
(192
)
86,442

(80,667
)
(422
)
Benefit (provision) for income taxes
(673
)
3


46

624

1

Earnings (loss) from continuing operations
(6,658
)
(18
)
(192
)
86,489

(80,043
)
(421
)
Earnings (loss) from discontinued operations, net of taxes
951


42


(6,205
)
(5,212
)
Net earnings (loss)
(5,707
)
(18
)
(150
)
86,489

(86,248
)
(5,634
)
Less net earnings (loss) attributable to noncontrolling interests



(3
)
76

73

Net earnings (loss) attributable to the Company
(5,707
)
(18
)
(150
)
86,492

(86,324
)
(5,707
)
Other comprehensive income (loss)
3,053


(1,105
)
870

235

3,053

Comprehensive income (loss) attributable to the Company
$
(2,654
)
$
(18
)
$
(1,255
)
$
87,362

$
(86,089
)
$
(2,654
)

 
 
 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (UNAUDITED)
 
(in millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Sales of goods and services
$
21,127

$

$

$
94,872

$
(51,395
)
$
64,604

GE Capital revenues from services

678

852

5,390

(1,011
)
5,909

Total revenues
21,127

678

852

100,263

(52,406
)
70,513

 
 
 
 
 
 
 
Interest and other financial charges
1,281

671

1,889

2,041

(2,296
)
3,585

Other costs and expenses
32,198



89,228

(31,793
)
89,634

Total costs and expenses
33,479

672

1,889

91,269

(34,090
)
93,219

Other income (loss)
2,450



3,883

(4,945
)
1,388

Equity in earnings (loss) of affiliates
(11,761
)

1,199

28,378

(17,816
)

Earnings (loss) from continuing operations before income taxes
(21,663
)
7

161

41,255

(41,078
)
(21,318
)
Benefit (provision) for income taxes
47

(1
)

(1,098
)
592

(460
)
Earnings (loss) from continuing operations
(21,616
)
6

161

40,157

(40,486
)
(21,777
)
Earnings (loss) from discontinued operations, net of taxes
(1,634
)

(63
)
1

170

(1,526
)
Net earnings (loss)
(23,250
)
6

98

40,158

(40,316
)
(23,304
)
Less net earnings (loss) attributable to noncontrolling interests
(134
)


(202
)
148

(188
)
Net earnings (loss) attributable to the Company
(23,116
)
6

98

40,360

(40,464
)
(23,116
)
Other comprehensive income (loss)
1,174


(42
)
(2,381
)
2,424

1,174

Comprehensive income (loss) attributable to the Company
$
(21,941
)
$
6

$
56

$
37,978

$
(38,040
)
$
(21,941
)

CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION SEPTEMBER 30, 2019 (UNAUDITED)
 
(In millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash
$
10,001

$

$

$
21,215

$
(3,406
)
$
27,810

Receivables - net
41,269

17,841

34

61,998

(94,416
)
26,726

Investment in subsidiaries
143,127


40,179

699,149

(882,455
)

All other assets
31,724

480


316,579

(140,309
)
208,474

Total assets
$
226,120

$
18,322

$
40,212

$
1,098,942

$
(1,120,586
)
$
263,009

 
 
 
 
 
 
 
Short-term borrowings
$
130,045

$

$
1,552

$
7,303

$
(121,854
)
$
17,046

Long-term and non-recourse borrowings
40,901

17,019

25,511

24,676

(31,909
)
76,199

All other liabilities
65,166

275

219

136,051

(61,100
)
140,612

Total liabilities
236,112

17,294

27,282

168,031

(214,863
)
233,856

 
 
 
 
 
 
 
Total liabilities and equity
$
226,120

$
18,322

$
40,212

$
1,098,942

$
(1,120,586
)
$
263,009

CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2018
(In millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash
$
9,561

$

$

$
25,975

$
(4,412
)
$
31,124

Receivables - net
27,868

17,467

2,792

56,256

(74,895
)
29,488

Investment in subsidiaries
175,071


45,832

733,535

(954,437
)

All other assets
19,165

12


298,493

(67,210
)
250,460

Total assets
$
231,665

$
17,479

$
48,623

$
1,114,260

$
(1,100,954
)
$
311,072

 
 
 
 
 
 
 
Short-term borrowings
$
143,481

$

$
9,854

$
9,653

$
(150,212
)
$
12,776

Long-term and non-recourse borrowings
50,705

16,115

24,341

47,014

(47,352
)
90,824

All other liabilities
45,722

336

245

133,203

(23,514
)
155,992

Total liabilities
239,908

16,452

34,439

189,870

(221,078
)
259,591

 
 
 
 
 
 
 
Total liabilities and equity
$
231,665

$
17,479

$
48,623

$
1,114,260

$
(1,100,954
)
$
311,072


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2019 (UNAUDITED)
(In millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Cash from (used for)
operating activities(a)
$
9,148

$
400

$
(1,539
)
$
6,556

$
(12,531
)
$
2,033

 
 
 
 
 
 
 
Cash from (used for) investing activities
$
34,181

$
(400
)
$
6,072

$
108,843

$
(143,646
)
$
5,050

 
 
 
 
 
 
 
Cash from (used for) financing activities
$
(42,889
)
$

$
(4,532
)
$
(120,127
)
$
153,460

$
(14,089
)
 
 
 
 
 
 
 
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash



(131
)

(131
)
Increase (decrease) in cash, cash equivalents and restricted cash
440



(4,859
)
(2,717
)
(7,136
)
Cash, cash equivalents and restricted cash at beginning of year
9,561



26,676

(689
)
35,548

Cash, cash equivalents and restricted cash
at September 30
10,001



21,817

(3,406
)
28,412

Less cash, cash equivalents and restricted cash of discontinued operations at September 30



602


602

Cash, cash equivalents and restricted cash of continuing operations at September 30
$
10,001

$

$

$
21,215

$
(3,406
)
$
27,810

(a)
Parent Company Guarantor cash flows included cash from (used for) operating activities of discontinued operations of $(2,382) million.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2018 (UNAUDITED)
(In millions)
Parent
Company
Guarantor

Subsidiary
Issuer

Subsidiary
Guarantor

Non-
Guarantor
Subsidiaries

Consolidating
Adjustments

Consolidated

 
 
 
 
 
 
 
Cash from (used for)
operating activities(a)
$
11,267

$
(118
)
$
(381
)
$
24,135

$
(38,492
)
$
(3,589
)
 
 
 
 
 
 
 
Cash from (used for) investing activities
$
(625
)
$
189

$
(1,052
)
$
(18,293
)
$
31,417

$
11,636

 
 
 
 
 
 
 
Cash from (used for) financing activities
$
(11,824
)
$
(70
)
$
1,445

$
(16,845
)
$
2,328

$
(24,967
)
 
 
 
 
 
 
 
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash



(440
)

(440
)
Increase (decrease) in cash, cash equivalents and restricted cash
(1,183
)

12

(11,443
)
(4,747
)
(17,361
)
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 September 30
2,289


15

30,550

(5,490
)
27,364

Less cash, cash equivalents and restricted cash of discontinued operations at September 30



5,310


5,310

Cash, cash equivalents and restricted cash of continuing operations at September 30
$
2,289

$

$
15

$
25,240

$
(5,490
)
$
22,054


(a)
Parent Company Guarantor cash flows included cash from (used for) operating activities of discontinued operations of $185 million.