0000040545-15-000043.txt : 20150417 0000040545-15-000043.hdr.sgml : 20150417 20150417095153 ACCESSION NUMBER: 0000040545-15-000043 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150331 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150417 DATE AS OF CHANGE: 20150417 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06461 FILM NUMBER: 15776688 BUSINESS ADDRESS: STREET 1: 901 MAIN AVENUE CITY: NORWALK STATE: CT ZIP: 06851-1168 BUSINESS PHONE: 203-840-6300 MAIL ADDRESS: STREET 1: 901 MAIN AVENUE CITY: NORWALK STATE: CT ZIP: 06851-1168 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 8-K 1 gecc8k1q15.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) April 17, 2015
 
 
General Electric Capital Corporation
  
 
(Exact name of registrant as specified in its charter)
  
 
Delaware
  
01-06461
  
13-1500700
(State or other jurisdiction
 of incorporation)
  
(Commission
 File Number)
  
(IRS Employer
 Identification No.)
   
 
    
901 Main Avenue, Norwalk, Connecticut
      
06851-1168
(Address of principal executive offices)
      
(Zip Code)
   
 
    
Registrant's telephone number, including area code   (203) 840-6300
 
 
Not applicable
  
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.
On April 17, 2015, our parent, General Electric Company (GE), issued a press release setting forth GE's first-quarter 2015 earnings. Attached hereto as Exhibit 99 and hereby incorporated by reference is a schedule of selected financial information related to the results of operation for the three months ended March 31, 2015 and financial position at March 31, 2015 of General Electric Capital Corporation.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is being furnished as part of this report:
Exhibit Description
Exhibit 99 Selected financial information of General Electric Capital Corporation
   
   

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   
General Electric Capital Corporation
  
   
(Registrant)
  
       
Date: April 17, 2015
  
/s/ Walter Ielusic
  
   
Walter Ielusic
  
   
Senior Vice President and Controller
  


EX-99 2 gecc8k1q15ex99.htm
                             
GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
  
CONDENSED STATEMENT OF EARNINGS (LOSS)
  
(unaudited)
                            
             
Three months ended March 31
  
(Dollars in millions)
              
2015
    
2014
  
V%
  
                             
Revenues
                            
Revenues from services
            
$
5,961
  
$
9,858
      
Sales of goods
              
21
    
27
      
   Total revenues
              
5,982
    
9,885
  
(39)%
  
                             
Costs and expenses
                            
Costs of sales, operating and administrative expense
              
5,129
    
4,366
      
Interest
              
1,651
    
1,887
      
Investment contracts, insurance losses and insurance
                            
  annuity benefits
              
644
    
643
      
Provision for losses on financing receivables
              
4,859
    
984
      
   Total costs and expenses
              
12,283
    
7,880
  
56%
  
                             
Earnings (loss) from continuing operations before
                            
   income taxes
              
(6,301)
    
2,005
  
U
  
Benefit (provision) for income taxes
              
(6,152)
    
(301)
      
                             
Earnings (loss) from continuing operations
              
(12,453)
    
1,704
  
U
  
Earnings (loss) from discontinued operations, net of taxes
              
(2,201)
    
252
      
                             
Net earnings (loss)
              
(14,654)
    
1,956
  
U
  
Less net earnings (loss) attributable to
                            
   noncontrolling interests
              
91
    
11
      
Net earnings (loss) attributable to GECC
              
(14,745)
    
1,945
  
U
  
Preferred stock dividends declared
              
-
    
-
      
Net earnings (loss) attributable to
                            
   GECC common shareowner
            
$
(14,745)
  
$
1,945
  
U
  
                             
Amounts attributable to GECC common shareowner:
                            
Earnings (loss) from continuing operations
            
$
(12,453)
  
$
1,704
  
U
  
Less net earnings (loss) attributable to
                            
   noncontrolling interests
              
91
    
11
      
Earnings (loss) from continuing operations attributable to GECC
              
(12,544)
    
1,693
  
U
  
Preferred stock dividends declared
              
-
    
-
      
Earnings (loss) from continuing operations attributable to GECC
                            
  common shareowner
              
(12,544)
    
1,693
  
U
  
Earnings (loss) from discontinued operations, net of taxes
              
(2,201)
    
252
      
Net earnings (loss) attributable to GECC
                            
   common shareowner
            
$
(14,745)
  
$
1,945
  
U
  
                                 
                                 
 
GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
  
SUMMARY OF OPERATING SEGMENTS
  
(unaudited)
                                
     
Three months ended March 31
  
(Dollars in millions)
            
2015
  
2014
  
V%
  
                                 
Revenues
                                
Commercial Lending & Leasing
                
$
1,556
  
$
3,582
  
(57)%
  
Consumer
                  
2,058
    
3,602
  
(43)%
  
Energy Financial Services
                  
285
    
469
  
(39)%
  
GECAS
                  
1,282
    
1,345
  
(5)%
  
Total segment revenues
                  
5,181
    
8,998
  
(42)%
  
GECC corporate items and eliminations
                  
801
    
887
  
(10)%
  
Total revenues
                
$
5,982
  
$
9,885
  
(39)%
  
                                 
Segment profit (loss)
                                
Commercial Lending & Leasing
                
$
(3,847)
  
$
564
  
U
  
Consumer
                  
(2,775)
    
786
  
U
  
Energy Financial Services
                  
35
    
153
  
(77)%
  
GECAS
                  
307
    
352
  
(13)%
  
Total segment profit (loss)
                  
(6,280)
    
1,855
  
U
  
GECC Corporate items and eliminations
                  
(6,264)
    
(162)
  
U
  
Earnings (loss) from continuing operations attributable to GECC
                  
(12,544)
    
1,693
  
U
  
Preferred stock dividends declared
                  
-
    
-
  
-
  
Earnings (loss) from continuing operations attributable to GECC common shareowner
                  
(12,544)
    
1,693
  
U
  
Earnings (loss) from discontinued operations, net of taxes, attributable to GECC
                  
(2,201)
    
252
  
U
  
Net earnings (loss) attributable to GECC
   common shareowner
                
$
(14,745)
  
$
1,945
  
U
  
                                 
 
GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
CONDENSED STATEMENT OF FINANCIAL POSITION
(unaudited)
          
           
(Dollars in billions)
March 31, 2015
  
December 31, 2014
       
Assets
          
Cash & marketable securities
$
115.5
  
$
121.6
Inventories
  
-
    
0.1
Financing receivables - net
  
78.1
    
217.4
Property, plant and equipment - net
  
45.1
    
49.4
Goodwill & intangible assets - net
  
20.9
    
25.6
Other assets
  
39.0
    
45.2
Financing receivables held for sale
  
93.0
    
1.8
Assets of businesses held for sale
  
53.6
    
3.5
Assets of discontinued operations
  
31.3
    
36.8
Total assets
$
476.5
  
$
501.4
           
Liabilities and equity
          
Borrowings and bank deposits
$
335.9
  
$
349.0
Investment contracts, insurance liabilities and insurance annuity benefits
  
28.2
    
28.0
Other liabilities
  
30.4
    
29.5
Liabilities of businesses held for sale
  
6.3
    
2.4
Liabilities of discontinued operations
  
2.0
    
2.1
GECC shareowners' equity
  
70.7
    
87.5
Noncontrolling interests(a)
  
3.0
    
2.9
Total liabilities and equity
$
476.5
  
$
501.4
           
(a)
Included $2.4 billion related to the Synchrony Financial initial public offering.