Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2014

Variable Interest Entities [Abstract]

				Consolidated Securitization Entities

				Credit						Trade
(In millions)	Trinity		(a)	cards		(b)	Equipment		(b)	receivables		Other		Total

June 30, 2014
Assets(c)
Financing receivables, net	$	-		$	25,334		$	13,084		$	2,726	$	2,732	$	43,876
Investment securities		2,685			-			-			-		1,037		3,722
Other assets		15			732	(d)		669			2		1,748		3,166
Total	$	2,700		$	26,066		$	13,753		$	2,728	$	5,517	$	50,764

Liabilities(c)
Borrowings	$	-		$	-		$	-		$	-	$	563	$	563
Non-recourse borrowings		-			15,114			10,911			2,178		448		28,651
Other liabilities		1,446			338			393			32		1,292		3,501
Total	$	1,446		$	15,452		$	11,304		$	2,210	$	2,303	$	32,715

December 31, 2013
Assets(c)
Financing receivables, net	$	-		$	24,766		$	12,928		$	2,509	$	2,044	$	42,247
Investment securities		2,786			-			-			-		1,044		3,830
Other assets		213			20			557			1		1,563		2,354
Total	$	2,999		$	24,786		$	13,485		$	2,510	$	4,651	$	48,431

Liabilities(c)
Borrowings	$	-		$	-		$	-		$	-	$	597	$	597
Non-recourse borrowings		-			15,363			10,982			2,180		49		28,574
Other liabilities		1,482			228			248			25		1,235		3,218
Total	$	1,482		$	15,591		$	11,230		$	2,205	$	1,881	$	32,389

Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $1,490 million and $1,837 million at June 30, 2014 and December 31, 2013, respectively.
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At June 30, 2014 and December 31, 2013, the amounts of commingled cash owed to the CSEs were $3,074 million and $6,314 million, respectively, and the amounts owed to us by CSEs were $3,121 million and $5,540 million, respectively.
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GECC as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities' liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation.
Receivables required to be classified as held-for-sale following third-party notice to terminate a private label credit card program and purchase the program receivables.

Unconsolidated VIE


(In millions)	June 30, 2014		December 31, 2013

Other assets and investment securities	$	9,463	$	9,089
Financing receivables – net		3,054		3,344
Total investments		12,517		12,433
Contractual obligations to fund investments or guarantees		2,658		2,731
Revolving lines of credit		32		31
Total	$	15,207	$	15,195

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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