10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)
☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
	THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2015
OR
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________to ___________
_____________________________ Commission file number 001-06461 _____________________________
GENERAL ELECTRIC CAPITAL CORPORATION (Exact name of registrant as specified in its charter)

Delaware	13-1500700
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
901 Main Avenue, Norwalk, CT	06851-1168
(Address of principal executive offices)	(Zip Code)

(Registrant's telephone number, including area code)(203) 840-6300

(Former name, former address and former fiscal year,

if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐   Accelerated filer ☐   Non-accelerated filer ☑   Smaller reporting company ☐  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b‑2 of the Exchange Act). Yes ☐No ☑

At September 30, 2015, 1,000 shares of voting common stock, which constitute all of the outstanding common equity, with a par value of $14 per share were outstanding.

REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION h(1)(a) AND (b) OF FORM 10-Q AND IS THEREFORE FILING THIS FORM 10-Q WITH THE REDUCED DISCLOSURE FORMAT.

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TABLE OF CONTENTS

	Page
Forward Looking Statements	4
Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)	5
Consolidated Results	6
Segment Operations	11
GECC Corporate Items and Eliminations	14
Discontinued Operations	14
Statement of Financial Position	15
Financial Resources and Liquidity	18
Exposures	22
Critical Accounting Estimates	23
Other Items	24
Controls and Procedures	25
Regulations and Supervision	26
Legal Proceedings	27
Financial Statements and Notes	29
Exhibits	75
Form 10-Q Cross Reference Index	76
Signatures	77

FORWARD LOOKING STATEMENTS

This document contains "forward-looking statements" – that is, statements related to future, not past, events.  In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," or "target."

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about GE's announced plan to reduce the size of its financial services businesses, including expected cash and non-cash charges associated with this plan; expected income; revenues; net interest margin; cost structure; restructuring charges; cash flows; assets; return on capital or assets; capital structure, including Tier 1 common ratio; and dividends.

For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include:

· obtaining (or the timing of obtaining) any required regulatory reviews or approvals or any other consents or approvals associated with GE's announced plan to reduce the size of its financial services businesses;

· our ability to complete incremental asset sales as part of that plan in a timely manner (or at all) and at the prices we have assumed;

· changes in law, economic and financial conditions, including interest and exchange rate volatility, commodity and equity prices and the value of financial assets, including the impact of these conditions on our ability to sell or the value of incremental assets to be sold as part of GE's announced plan to reduce the size of its financial services businesses as well as other aspects of that plan;

· the impact of conditions in the financial and credit markets on the availability and cost of GECC's funding, GECC's exposure to counterparties and GECC's ability to reduce asset levels as planned;

· the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults;

· pending and future mortgage loan repurchase claims and other litigation claims in connection with WMC, which may affect our estimates of liability, including possible loss estimates;

· our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so;

· GECC's ability to pay dividends to GE at the planned level, which may be affected by GECC's cash flows and earnings, financial services regulation and oversight, and other factors;

· the level of demand and financial performance of the major industries and customers GE serves;

· the effectiveness of our risk management framework;

· the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of financial services regulation and litigation;

· adverse market conditions, timing of and ability to obtain required bank regulatory approvals, or other factors relating to GE or Synchrony Financial that could prevent GE from completing the Synchrony Financial split-off as planned;

· our success in completing, including obtaining regulatory approvals for, announced transactions, such as GE's announced plan and transactions to reduce the size of its financial services business;

· our success in integrating acquired businesses and operating joint ventures;

· the impact of potential information technology or data security breaches; and

· the other factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014.

These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements.  We do not undertake to update our forward-looking statements. This document includes certain forward-looking projected financial information that is based on current estimates and forecasts.  Actual results could differ materially.

2015 3Q FORM 10-Q  PAGE 4

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (MD&A)

PRESENTATION

Throughout this MD&A, unless otherwise indicated, we refer to captions such as revenues and earnings from continuing operations attributable to General Electric Capital Corporation (GE Capital or GECC) simply as "revenues" and "earnings." Similarly, discussion of other matters in our consolidated financial statements relates to continuing operations unless otherwise indicated.

We integrate acquisitions as quickly as possible. Only revenues and earnings from the date we complete the acquisition through the end of the following fourth quarter are attributed to such businesses.

We have reclassified certain prior-period amounts to conform to the current-period presentation.

NON-GAAP FINANCIAL MEASURES

In the accompanying analysis of financial information, we sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered "non-GAAP financial measures" under the SEC rules. For such measures, we have provided supplemental explanations and reconciliations in Exhibit 99 to this Form 10-Q Report.

REFERENCES

The MD&A should be read in conjunction with the Financial Statements and Notes to the consolidated financial statements.

CORPORATE INFORMATION AND WEBSITES

GE's Investor Relations website at www.ge.com/investor-relations and our corporate blog at www.gereports.com, as well as GE's Facebook page and Twitter accounts, including @GE_Reports, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.

2015 3Q FORM 10-Q  PAGE 5

CONSOLIDATED RESULTS

THE GE CAPITAL EXIT PLAN

On April 10, 2015, GE announced its plan (the GE Capital Exit Plan) to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months, and to focus on continued investment and growth in GE's industrial businesses. Under the GE Capital Exit Plan, which was approved on April 2, 2015 and aspects of which were approved on March 31, 2015, GE will retain certain GECC businesses, principally its vertical financing businesses—GE Capital Aviation Services (GECAS), Energy Financial Services (EFS) and Healthcare Equipment Finance—that directly relate to GE's core industrial domain and other operations, including Working Capital Solutions and our run-off insurance activities (together referred to as GE Capital Verticals or Verticals). The assets planned for disposition include Real Estate, most of Commercial Lending and Leasing (CLL) and all Consumer platforms (including all U.S. banking assets). GE expects to execute this strategy using an efficient approach for exiting non-vertical assets that works for GE's and GECC's debt holders and GE's shareowners. An element of this approach involves a merger of GECC into GE to assure compliance with debt covenants as GECC exits non-vertical assets, and the creation of a new intermediate holding company to hold GECC's businesses after the merger. GE has discussed the GE Capital Exit Plan, aspects of which are subject to regulatory review and approval, with its regulators and staff of the Financial Stability Oversight Council (FSOC) and will work closely with these bodies to take the actions necessary over time to terminate the FSOC's designation of GECC (and the new intermediate holding company, as applicable) as a nonbank systemically important financial institution (nonbank SIFI).

It is expected that as a result of the GE Capital Exit Plan, the GE Capital businesses that will remain with GE will account for about $90 billion in ending net investment (ENI), excluding liquidity, including about $40 billion in the U.S. ENI is a metric used to measure the total capital invested in the financial services businesses. GE Capital's ENI, excluding liquidity* at September 30, 2015 was $176 billion.

REORGANIZATION AND EXCHANGE OFFERS

The merger and creation of a new intermediate holding company is part of a reorganization of GECC's businesses (the Reorganization) pursuant to which GE will also separate GECC's international and U.S. operations. GECC's international operations will be consolidated under a new international holding company (GE Capital International Holdings) and will have a separate capital structure and be supervised by the U.K. Prudential Regulation Authority. The Reorganization, Exchange Offers (as described below) and establishment of GE Capital International Holdings are intended, among other things, to establish an efficient and simplified capital structure that is satisfactory to GECC's regulators, a key step in terminating the nonbank systemically important financial institution designation for GECC. In addition, the Exchange Offers were designed to align the liabilities of GE Capital International Holdings to its assets from a maturity profile and liquidity standpoint, taking into consideration asset sales, and where appropriate, shortening the maturity profile of targeted liabilities.

As part of the GE Capital Exit Plan, on September 21, 2015 GE Capital commenced private offers to exchange (the Exchange Offers) up to $30 billion of certain outstanding debt for new notes with maturities of six months, five years, ten years or twenty years. On October 19, 2015, given the high level of participation, the offering was increased by $6 billion with the aggregate principal amount of $36 billion of outstanding notes being tendered for exchange and settled on October 26, 2015. The new notes that were issued at closing are composed of $15.3 billion of 0.964% Six Month Notes due 2016, £0.8 billion of 1.363% Six Month Notes due 2016, $6.1 billion of 2.342% Notes due 2020, $2.0 billion of 3.373% Notes due 2025 and $11.5 billion of 4.418% Notes due 2035. Of the $16.2 billion exchanged into the Six Month Notes, $1.3 billion is in short term borrowings at September 30, 2015. GECC will continue to evaluate the opportunity to repurchase debt while maintaining our liquidity at the levels communicated as part of the GE Capital Exit Plan. The new notes have been fully, irrevocably and unconditionally guaranteed by GE.

*Non-GAAP Financial Measure

2015 3Q FORM 10-Q  PAGE 6

SALES AGREEMENTS

During the first nine months of 2015, GE signed agreements to sell approximately $94 billion of ENI, excluding liquidity (as originally reported at December 31, 2014), of which approximately $45 billion and $33 billion related to the CLL and Real Estate businesses, respectively. CLL transactions signed in the third quarter 2015 included approximately $9.3 billion related to its Healthcare Financial Services U.S. lending business with Capital One, approximately $7.6 billion related to its Transportation Finance business in the U.S. and Canada with BMO Financial Group, and approximately $1.8 billion related to its Mubadala joint venture with MidCap Finco. Ltd., which is managed by Apollo Capital Management. Of the signed agreements, approximately $60 billion have closed, including approximately $30 billion and $21 billion related to Real Estate and CLL, respectively. The Real Estate transactions that have closed included the majority of GECC's Real Estate debt and equity portfolio sold to funds managed by The Blackstone Group (which, in turn, sold a portion of this portfolio to Wells Fargo & Company). In connection with The Blackstone Group transactions, GECC provided $3.2 billion of seller financing to The Blackstone Group, which GECC intends to syndicate by 2016. As of September 30, 2015, GECC has collected or sold approximately $0.4 billion of this seller financing. The CLL transactions that have closed included its U.S. and European Sponsor Finance businesses and the majority of its Global Fleet services business.

In addition, during October 2015, we signed agreements to sell approximately $32 billion of ENI, excluding liquidity (as originally reported at December 31, 2014) related to our CLL business.  These signed CLL transactions included approximately $30 billion related to our global Commercial Distribution Finance, North American Vendor Finance and North American Corporate Finance businesses with Wells Fargo & Company and approximately $2 billion related to our Corporate Aircraft portfolio with Global Jet Capital.

AFTER-TAX CHARGES RELATED TO THE GE CAPITAL EXIT PLAN

In connection with the GE Capital Exit Plan announced on April 10, GE estimated that it would incur approximately $23 billion in after-tax charges through 2016, approximately $6 billion of which are expected to result in future net cash expenditures. These charges relate to: business dispositions, including goodwill allocations (approximately $13 billion), tax expense related to expected repatriation of foreign earnings and write-off of deferred tax assets (approximately $7 billion), and restructuring and other charges (approximately $3 billion).

In the nine months ended September 30, 2015, GE recorded $21.1 billion of after-tax charges related to the GE Capital Exit Plan, including $0.4 billion of after-tax charges recorded in the third quarter of 2015, primarily exit-related charges in our CLL business, partially offset by income associated with operations in CLL and Real Estate. A description of after-tax charges for the nine months ended September 30, 2015 is provided below.

· $9.8 billion of net loss primarily related to the planned disposition of the Real Estate business and most of the CLL business, which is recorded in discontinued operations under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

· $6.2 billion of tax expense related to expected repatriation of foreign earnings and write-off of deferred tax assets, of which $6.1 billion is reported in GECC's Corporate component and $0.2 billion is reported in our Consumer business all recorded in continuing operations under the caption "Benefit (provision) for income taxes" in the Statement of Earnings.

· $4.7 billion of net asset impairments due to shortened hold periods, of which $3.2 billion is recorded in continuing operations in our Consumer business primarily under the captions "Provisions for losses on financing receivables" and "Revenues from services" in the Statement of Earnings and $1.5 billion is recorded in discontinued operations in our CLL business under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

· $0.4 billion of restructuring and other charges, of which $0.3 billion is recorded in continuing operations in GECC's Corporate component under the caption "Operating and administrative" in the Statement of Earnings and $0.1 billion is recorded in discontinued operations in our CLL business under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

2015 3Q FORM 10-Q  PAGE 7

GUARANTEE

As part of the GE Capital Exit Plan, on April 10, 2015, GE and GECC entered into an amendment to their existing financial support agreement. Under this amendment (the Amendment), GE has provided a full and unconditional guarantee (the Guarantee) of the payment of principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC identified in the Amendment. In the aggregate, the Guarantee applied to approximately $184 billion of GECC debt as of September 30, 2015. The Guarantee replaced the requirement that GE make certain income maintenance payments to GECC in certain circumstances. GECC's U.S. public indentures were concurrently amended to provide the full and unconditional guarantee by GE set forth in the Guarantee.

SYNCHRONY FINANCIAL EXCHANGE OFFER

On October 14, 2015, the Federal Reserve Board approved Synchrony Financial's application to operate as a publicly owned savings and loan holding company following completion of the exchange offer, conditioned on Synchrony Financial complying with certain conditions, including receipt of all required regulatory approvals, and on the commitments made in connection with Synchrony Financial's applications.

On October 19, 2015, GE commenced an offer to exchange GE common stock for common stock of GECC's approximately 84.6% owned subsidiary, Synchrony Financial. This exchange offer is in connection with the previously announced separation of Synchrony Financial and is expected to conclude the week of November 16, 2015. We estimate that the exchange will reduce the outstanding shares of GE common stock by approximately 6-7%. Following the completion of the share exchange, GECC expects the Federal Reserve Board to act in due course on its application to deregister as a savings and loan holding company but cannot predict the timing of the Federal Reserve Board's action. For further information about the Synchrony Financial transaction, see the Form S-4 filed by Synchrony Financial on October 19, 2015.

REVENUES AND EARNINGS

Revenues decreased 1% in the three months ended September 30, 2015 as a result of higher impairments and the effects of currency exchange, partially offset by higher gains and the effects of acquisitions.

Revenues decreased 9% in the nine months ended September 30, 2015 primarily due to the effects of the GE Capital Exit Plan.

Earnings decreased 13% in the three months ended September 30, 2015 primarily due to core decreases, including charges associated with the GE Capital Exit Plan and higher impairments, partially offset by higher gains, the effects of dispositions and lower provisions for losses on financing receivables.

Earnings decreased significantly in the nine months ended September 30, 2015 primarily due to charges associated with the GE Capital Exit Plan.

SIGNIFICANT DEVELOPMENTS IN 2015

· The GE Capital Exit Plan – see above.

· Budapest Bank – On June 29, 2015 we closed the sale of Budapest Bank to Hungary's government.

· Australia and New Zealand (ANZ) Consumer Lending – At September 30, 2015, we had an agreement to sell our consumer finance business in Australia and New Zealand to a consortium including KKR, Varde Partners and Deutsche Bank for approximately 6.0 billion Australian dollars and 1.4 billion New Zealand dollars, respectively.

· Milestone Aviation Group – On January 30, 2015, GECAS acquired Milestone Aviation Group, a helicopter leasing business, for approximately $1.8 billion.

· Synchrony Financial – See above.

· Dividends – GECC paid no dividends and $0.5 billion of dividends to GE in the three and nine months ended September 30, 2015, respectively.

2015 3Q FORM 10-Q  PAGE 8

OTHER CONSOLIDATED INFORMATION

INCOME TAXES

Income taxes have a significant effect on our net earnings. As a global commercial enterprise, our tax rates are affected by many factors, including our global mix of earnings, the extent to which those global earnings are indefinitely reinvested outside the United States, legislation, acquisitions, dispositions and tax characteristics of our income. Our tax rates are also affected by tax incentives introduced in the U.S. and other countries in furtherance of policies to encourage and support certain types of activity. Our tax returns are routinely audited and settlements of issues raised in these audits sometimes affect our tax provisions.

GE and GECC file a consolidated U.S. federal income tax return. This enables GE to use GECC tax deductions and credits to reduce the tax that otherwise would have been payable by GE. The GECC effective tax rate for each period reflects the benefit of these tax reductions in the consolidated return. GE makes cash payments to GECC for these tax reductions at the time GE's tax payments are due.

		Three months ended September 30			Nine months ended September 30
(In billions)		2015		2014		2015		2014
(Benefit) provision for income taxes	$	-	$	-	$	6.2	$	(0.1)

2015 – 2014 COMMENTARY – THREE MONTHS ENDED SEPTEMBER 30

The GECC income tax rate for the third quarter of 2015 decreased to a negative (6.2%) from a negative (1.7%) in the third of 2014. The tax benefits when compared to the pre-tax income in each respective period resulted in the negative effective tax rates. The 4.5 percentage point decrease was primarily attributable to net tax benefits from marks on businesses held for sale and restructurings related to the GE Capital Exit Plan, partially offset by lower tax benefits on foreign operations.

2015 – 2014 COMMENTARY – NINE MONTHS ENDED SEPTEMBER 30

The negative nine month tax rate of 640.1% is caused by comparing the positive tax expense of $6.2 billion with the pre-tax loss of $1 billion resulting in a negative tax rate. As discussed in Note 7 to the consolidated financial statements, during the first nine months of 2015 in conjunction with the GE Capital Exit Plan we incurred tax expense of $6.2 billion related to expected repatriation of foreign earnings and write-off of deferred tax assets. The increase in the income tax expense from a benefit of $0.1 billion for the first nine months of 2014 to an expense of $6.2 billion for the first nine months of 2015 is primarily due to the tax impacts, discussed in Note 7 to the consolidated financial statements, related to the GE Capital Exit Plan.

BENEFITS FROM GLOBAL OPERATIONS

Absent the effects of the GE Capital Exit Plan, our effective income tax rate is lower than the U.S. statutory rate primarily because of benefits from lower-taxed global operations, including the use of global funding structures. There is a tax benefit from global operations as non-U.S. income is subject to local country tax rates that are significantly below the 35% U.S. statutory rate. These non-U.S. earnings have been indefinitely reinvested outside the U.S. and are not subject to current U.S. income tax. The rate of tax on our indefinitely reinvested non-U.S. earnings is below the 35% U.S. statutory rate because we have significant business operations subject to tax in countries where the tax on that income is lower than the U.S. statutory rate and because GECC funds certain of its non-U.S. operations through foreign companies that are subject to low foreign taxes.

2015 3Q FORM 10-Q  PAGE 9

Historically, the most significant portion of these benefits depends on the provision of U.S. law deferring the tax on active financial services income, which, as discussed below, is subject to expiration. A substantial portion of the remaining benefit related to business operations subject to tax in countries where the tax on that income is lower than the U.S. statutory rate is derived from our GECAS aircraft leasing operations located in Ireland. No other operation in any one country accounts for a material portion of the remaining balance of the benefit.

We expect our ability to benefit from non-U.S. income taxed at less than the U.S. rate to continue, subject to changes in our earnings profile due to the GE Capital Exit Plan and changes in U.S. or foreign law, including the expiration of the U.S. tax law provision deferring tax on active financial services income. In addition, since this benefit depends on management's intention to indefinitely reinvest amounts outside the U.S., our tax provision will increase to the extent we no longer intend to indefinitely reinvest foreign earnings.

2015 3Q FORM 10-Q  PAGE 10

SEGMENT OPERATIONS

Operating segments comprise our four segments focused on the broad markets they serve: Commercial Lending and Leasing, Consumer, Energy Financial Services and GECAS. The Chairman allocates resources to, and assesses the performance of, these four businesses.

Corporate items and eliminations include unallocated Treasury and Tax operations; Trinity, a group of sponsored special purpose entities; certain consolidated liquidating securitization entities; the effects of eliminating transactions between operating segments; results of our run-off insurance operations remaining in continuing operations attributable to GECC; unallocated corporate costs; certain non-allocated amounts determined by the Chairman; and a variety of sundry items. Corporate items and eliminations is not an operating segment. Rather, it is added to operating segment totals to reconcile to consolidated totals on the financial statements.

Segment profit is determined based on internal performance measures used by the Chairman to assess the performance of each business in a given period. In connection with that assessment, the Chairman may exclude matters such as charges for restructuring; rationalization and other similar expenses; acquisition costs and other related charges; technology and product development costs; certain gains and losses from acquisitions or dispositions; and litigation settlements or other charges, for which responsibility preceded the current management team.

Segment profit excludes results reported as discontinued operations, the portion of earnings attributable to noncontrolling interests of consolidated subsidiaries, GECC preferred stock dividends declared and accounting changes. Segment profit, which we sometimes refer to as "net earnings", includes interest and income taxes. GE allocates certain corporate costs to its segments based on an estimate of expected benefit to the respective segment relative to total GE. Factors considered in the determination of relative benefit include a segment's direct costs and number of employees compared to the total direct costs and number of employees for all segments.

We have reclassified certain prior-period amounts to conform to the current-period presentation.

2015 3Q FORM 10-Q  PAGE 11

SUMMARY OF OPERATING SEGMENTS
	Three months ended September 30						Nine months ended September 30
(In millions)	2015		2014		V%		2015		2014		V%
Revenues
CLL	$	285	$	251		14 %	$	790	$	743		6 %
Consumer		3,652		3,622		1 %		9,237		10,822		(15)%
Energy Financial Services		225		344		(35)%		906		1,120		(19)%
GECAS		1,307		1,262		4 %		3,935		3,952		- %
Total segment revenues		5,468		5,479		- %		14,867		16,637		(11)%
GECC corporate items and eliminations		843		905		(7)%		2,585		2,586		- %
Total revenues	$	6,312	$	6,384		(1)%	$	17,452	$	19,223		(9)%
Segment profit (loss)
CLL	$	111	$	90		23 %	$	286	$	252		13 %
Consumer		795		621		28 %		(1,521)		1,879		U
Energy Financial Services		(38)		61		U		106		290		(63)%
GECAS		313		133		F		981		828		18 %
Total segment profit (loss)		1,180		905		30 %		(149)		3,249		U
GECC corporate items and eliminations		(445)		(62)		U		(7,245)		3		U
Earnings (loss) from continuing operations attributable to GECC		734		843		(13)%		(7,394)		3,252		U
Preferred stock dividends declared		-		-		- %		(161)		(161)		- %
Earnings (loss) from continuing operations attributable to
GECC common shareowner		734		843		(13)%		(7,555)		3,091		U
Earnings (loss) from discontinued operations, net of taxes		(347)		706		U		(10,332)		2,070		U
Net earnings (loss) attributable to GECC common shareowner	$	387	$	1,549		(75)%	$	(17,887)	$	5,161		U

(In millions)	September 30, 2015		December 31, 2014		September 30, 2014
Assets
CLL	$	21,573	$	21,673	$	19,366
Consumer		120,879		135,987		140,529
Energy Financial Services		15,406		15,467		16,197
GECAS		45,816		42,625		42,960
GECC Corporate items and eliminations		230,146		286,818		290,392
Total assets	$	433,819	$	502,570	$	509,444

2015 3Q FORM 10-Q  PAGE 12

2015 – 2014 COMMENTARY:

COMMERCIAL LENDING AND LEASING

During the second quarter of 2015, the majority of CLL's business met held for sale criteria and was classified as discontinued operations.  See Note 2 for additional information. The discussion below relates solely to the portion of CLL's business classified as continuing operations, which include Healthcare Equipment Finance and Working Capital Solutions.

CLL 2015 revenues increased 14% and net earnings increased 23% in the three months ended September 30, 2015. Revenues increased primarily as a result of organic revenue growth. Net earnings increased reflecting core increases.

CLL 2015 revenues increased 6% and net earnings increased 13% in the nine months ended September 30, 2015. Revenues increased primarily as a result of organic revenue growth, partially offset by the effects of currency exchange. Net earnings increased reflecting core increases.

CONSUMER

Consumer 2015 revenues increased 1% and net earnings increased 28% in the three months ended September 30, 2015. Revenues increased reflecting higher gains ($0.2 billion), organic revenue growth ($0.1 billion) and the effects of acquisitions, partially offset by the effects of dispositions ($0.2 billion) and the effects of currency exchange ($0.1 billion). Net earnings increased as a result of higher gains ($0.1 billion) and lower provisions for financing receivables ($0.1 billion), partially offset by core decreases.

Consumer 2015 revenues decreased 15% and net earnings decreased unfavorably in the nine months ended September 30, 2015. Revenues decreased as a result of higher impairments ($1.4 billion), the effects of dispositions ($0.5 billion) and the effects of currency exchange ($0.4 billion), partially offset by higher gains ($0.4 billion), organic revenue growth ($0.3 billion) and the effects of acquisitions. Net earnings decreased as a result of higher provisions for losses on financing receivables ($2.0 billion), higher impairments ($1.2 billion) and core decreases ($0.4 billion), partially offset by higher gains ($0.2 billion). These decreases are primarily related to the reclassification of assets within Consumer to financing receivables held-for-sale recorded at the lower of cost or fair value, less cost to sell ($2.2 billion), and asset impairments related to equity method investments in connection with the GE Capital Exit Plan ($1.2 billion).

ENERGY FINANCIAL SERVICES

Energy Financial Services 2015 revenues decreased 35% and net earnings decreased unfavorably in the three months ended September 30, 2015. Revenues decreased as a result of higher impairments ($0.2 billion), lower gains ($0.1 billion) and organic revenue declines, partially offset by the effects of dispositions ($0.2 billion). Net earnings decreased as a result of higher impairments ($0.1 billion) and lower gains, partially offset by the effects of dispositions ($0.1 billion).

Energy Financial Services 2015 revenues decreased 19% and net earnings decreased 63% in the nine months ended September 30, 2015. Revenues decreased as a result of organic revenue declines ($0.3 billion), higher impairments ($0.1 billion) and lower gains ($0.1 billion), partially offset by the effects of dispositions ($0.2 billion). Net earnings decreased as a result of core decreases ($0.2 billion), higher impairments ($0.1 billion) and lower gains, partially offset by the effects of dispositions ($0.1 billion).

GECAS

GECAS 2015 revenues increased 4% and net earnings increased favorably in the three months ended September 30, 2015. Revenues increased as a result of the effects of acquisitions ($0.1 billion), partially offset by organic revenue declines ($0.1 billion). Net earnings increased as a result of lower impairments ($0.1 billion), the effects of acquisitions and core increases.

GECAS 2015 revenues decreased slightly and net earnings increased 18% in the nine months ended September 30, 2015. Revenues decreased as a result of organic revenue declines ($0.4 billion), partially offset by the effects of acquisitions ($0.2 billion) and lower impairments ($0.1 billion). Net earnings increased as a result of lower impairments ($0.2 billion) and the effects of acquisitions ($0.1 billion), partially offset by core decreases ($0.1 billion).

2015 3Q FORM 10-Q  PAGE 13

GECC CORPORATE ITEMS AND ELIMINATIONS

Corporate items and eliminations included $0.2 billion of Treasury operation expenses and $0.1 billion of Treasury operation income in the three months ended September 30, 2015 and 2014, respectively, and $0.2 billion of Treasury operation expenses and $0.1 billion of Treasury operation income in the nine months ended September 30, 2015 and 2014, respectively, reflecting derivative activities that reduce or eliminate interest rate, currency or market risk between financial assets and liabilities.

Corporate items and eliminations included $6.2 billion of net unallocated tax expenses in the nine months ended September 30, 2015, primarily related to tax expenses on expected repatriation of foreign earnings and write-off of deferred tax assets related to the GE Capital Exit Plan.

Corporate items and eliminations included $0.1 billion and $0.1 billion of corporate headquarters expenses in the three months endedSeptember 30, 2015 and 2014, respectively, and $0.5 billion and $0.3 billion in the nine months ended September 30, 2015 and 2014, respectively, encompassing executive staff and functional support to our businesses.

Certain amounts included in corporate items and eliminations are not allocated to the four operating businesses because they are excluded from the measurement of their operating performance for internal purposes. Unallocated costs included an insignificant amount in both the three months ended September 30, 2015 and 2014, respectively, and $0.1 billion in both the nine months ended September 30, 2015 and 2014, respectively, primarily related to restructuring, rationalization and other charges.

DISCONTINUED OPERATIONS

Discontinued operations primarily included most of our CLL business, our Real Estate business and our U.S. mortgage business (WMC).

Results of operations, financial position and cash flows for these businesses are separately reported as discontinued operations for all periods presented.

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Earnings (loss) from discontinued operations, net of taxes	$	(347)	$	706	$	(10,332)	$	2,070

2015 – 2014 COMMENTARY: THREE MONTHS ENDED SEPTEMBER 30

The third quarter 2015 loss from discontinued operations, net of taxes, primarily reflected the following:

· $0.5 billion after-tax loss at our CLL business (including $1.2 billion after-tax impairment charges on planned disposals).

· Third quarter 2015 losses were partially offset by $0.1 billion after-tax earnings at our Real Estate business, including a $0.2 billion after-tax gain on transactions closed in the quarter.

The third quarter 2014 earnings from discontinued operations, net of taxes, primarily reflected the following:

· $0.5 billion of after-tax earnings from operations at our CLL business, and

· $0.2 billion of after-tax earnings from operations at our Real Estate business.

2015 – 2014 COMMENTARY: NINE MONTHS ENDED SEPTEMBER 30

The 2015 loss from discontinued operations, net of taxes, primarily reflected the following:

· $8.2 billion after-tax loss at our CLL business (including a $8.4 billion after-tax loss on planned disposals), and

· $2.2 billion after-tax loss at our Real Estate business primarily loss on planned disposals.

The 2014 earnings from discontinued operations, net of taxes, primarily reflected the following:

· $1.4 billion of after-tax earnings from operations at our CLL business, and

· $0.7 billion of after-tax earnings from operations at our Real Estate business.

2015 3Q FORM 10-Q  PAGE 14

For additional information related to discontinued operations, see Note 2 to the consolidated financial statements.

STATEMENT OF FINANCIAL POSITION

MAJOR CHANGES IN OUR FINANCIAL POSITION FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015:

· Cash and equivalents increased $13.3 billion. See the following Liquidity Sources and Statement of Cash Flows sections for additional information.

· Financing receivables-net decreased $38.7 billion. See the following Financing Receivables section for additional information.

· Financing receivables held for sale increased $22.9 billion. See the following Financing Receivables Held for Sale section for additional information.

· Assets of discontinued operations decreased $65.0 billion, primarily due to the disposition of CLL businesses of $35.0 billion and Real Estate of $29.1 billion. See Note 2 for additional information.   

· Borrowings decreased $50.5 billion, primarily due to net repayments on borrowings of $43.4 billion, along with a $7.3 billion reduction in the balances driven by the strengthening of the U.S. dollar against all major currencies.

· Bank deposits increased $4.8 billion, primarily due to an increase in U.S. bank deposits of $5.4 billion at Synchrony Financial, offset by a $0.7 billion reduction driven by the strengthening of the U.S. dollar in non-U.S. bank deposits.

· Liabilities of discontinued operations decreased $5.0 billion, primarily due to the disposition of CLL businesses of $3.3 billion and Real Estate of $1.7 billion. See Note 2 for additional information.

FINANCING RECEIVABLES

Financing receivables held for investment are those that we have the intent and ability to hold for the foreseeable future and are measured at the principal amount outstanding, net of the allowance for losses, write-offs, unamortized discounts and premiums, and net deferred loan fees or costs.

At September 30, 2015, our financing receivables portfolio primarily relates to Synchrony Financial (our U.S. consumer business), Working Capital Solutions, which purchases GE customer receivables and GECAS, Energy Financial Services and Healthcare Equipment Finance (that directly relate to GE's core industrial businesses). The portfolios in our GECAS and Energy Financial Services businesses are collateralized by commercial aircraft and operating assets in the global energy and water industries, respectively. Our Healthcare Equipment Finance portfolio is collateralized by equipment used in the healthcare industry and the Working Capital Solutions portfolio is substantially recourse to GE or insured. Both the Healthcare Equipment Finance and Working Capital Solutions portfolios are reported in the CLL segment. Substantially all of the Synchrony Financial portfolio consists of U.S. consumer credit card and sales finance receivables and are reported in the Consumer segment.

For purposes of the discussion that follows, "delinquent" receivables are those that are 30 days or more past due based on their contractual terms. Loans purchased at a discount are initially recorded at fair value and accrete interest income over their estimated lives based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. "Nonaccrual" financing receivables are those on which we have stopped accruing interest. We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due, with the exception of consumer credit card accounts, for which we continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due. Recently restructured financing receivables are not considered delinquent when payments are brought current according to the restructured terms, but may remain classified as nonaccrual until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection.

Further information on the determination of the allowance for losses on financing receivables and the credit quality and categorization of our financing receivables is provided in Notes 4 and 13 to the consolidated financial statements.

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FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES
	Financing receivables at					Nonaccrual receivables at						Allowance for losses at(a)
(In millions)	September 30, 2015		December 31, 2014			September 30, 2015			December 31, 2014			September 30, 2015		December 31, 2014
Commercial
CLL	$	13,341	$	14,418		$	27		$	25		$	32	$	21
Energy
Financial Services		2,443		2,580			82			68			14		26
GECAS		7,394		8,263			195			419			37		46
Other		506		480			-			-			2		-
Total Commercial		23,684		25,741			304			512			85		93
Consumer		63,520		100,820	(b)		2	(d)		1,484	(b)		3,372		4,011	(b)
Total	$	87,204	$	126,561		$	306	(c)	$	1,996		$	3,457	$	4,104

(a) Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible.

(b) Included financing receivables of $10,564 million, nonaccrual receivables of $546 million and allowance for losses of $136 million at December 31, 2014, respectively, primarily related to loans, net of credit insurance, whose terms permitted repayments that are less than the repayments for fully amortizing loans and high loan-to-value ratios at inception (greater than 90%). At origination, we underwrite loans with an adjustable rate to the reset value. Of these loans at December 31, 2014, about 85% are in our U.K. and France portfolios, which have a delinquency rate of 10%, have a loan-to-value ratio at origination of 82% and have re-indexed loan-to-value ratios of 77% and 62%, respectively. Re-indexed loan-to-value ratios may not reflect actual realizable values of future repossessions. At December 31, 2014, 13% (based on dollar values) of these loans in our U.K. and France portfolios have been restructured.

(c) The majority of our $0.3 billion of nonaccrual loans at September 30, 2015 are currently paying in accordance with the contractual terms.

(d) We continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due.

Financing receivables, before allowance for losses, decreased $39.4 billion from December 31, 2014, primarily as a result of reclassifications to financing receivables held for sale or assets of businesses held for sale (primarily Consumer) ($34.5 billion), write-offs ($5.6 billion) and the stronger U.S. dollar ($4.0 billion), partially offset by originations exceeding collections (which includes sales) ($5.8 billion).

Nonaccrual receivables decreased $1.7 billion from December 31, 2014, primarily due to reclassifications to financing receivables held for sale (including write-offs) or assets of businesses held for sale (primarily Consumer).

Allowance for losses decreased $0.6 billion from December 31, 2014, primarily as a result of write-offs on financing receivables reclassified to financing receivables held for sale and the transfer of that portion of the allowance for losses related to financing receivables reclassified to assets of businesses held for sale (primarily Consumer). The allowance for losses as a percent of total financing receivables increased from 3.2% at December 31, 2014 to 4.0% at September 30, 2015 reflecting decreases in both the allowance for losses and the overall financing receivables balance related to the financing receivables reclassified to financing receivables held for sale and assets of businesses held for sale as part of the GE Capital Exit Plan.

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SELECTED RATIOS RELATED TO NONACCRUAL FINANCING RECEIVABLES AND THE ALLOWANCES FOR LOSSES
	Nonaccrual financing receivables				Allowance for losses				Allowance for losses
	as a percent of				as a percent of				as a percent of
	total financing receivables at				nonaccrual financing receivables at				total financing receivables at
	September 30, 2015		December 31, 2014		September 30, 2015		December 31, 2014		September 30, 2015		December 31, 2014
Commercial
CLL	0.2	%	0.2	%	118.5	%	84.0	%	0.2	%	0.2	%
Energy
Financial Services	3.4		2.6		17.1		38.2		0.6		1.0
GECAS	2.6		5.1		19.0		11.0		0.5		0.6
Other	-		-		-		-		0.4		-
Total Commercial	1.3		2.0		28.0		18.2		0.4		0.4
Consumer	-	(a)	1.5	(b)	(c)		270.3	(b)	5.3	(d)	4.0	(b)
Total	0.4		1.6		(c)		205.6		4.0		3.2

(a) We continue to accrue interest on consumer credit cards until the accounts are written off in the period the account becomes 180 days past due.

(b) Included nonaccrual financing receivables as a percent of financing receivables of 5.2%, allowance for losses as a percent of nonaccrual receivables of 24.8% and allowance for losses as a percent of total financing receivables of and 1.3% at 2014, respectively, primarily related to loans, net of credit insurance, whose terms permitted repayments that are less than the repayments for fully amortizing loans and high loan-to-value ratios at inception (greater than 90%). Compared to the overall non-U.S. residential mortgage loan portfolio, the ratio of allowance for losses as a percent of nonaccrual financing receivables for these loans is lower, driven primarily by the higher mix of such products in the U.K. and France portfolios and as a result of the better performance and collateral realization experience in these markets.

(c) Not meaningful.

(d) The ratio of allowance for losses as a percent of financing receivables increased from 4.0% at December 31, 2014 to 5.3% at September 30, 2015, primarily reflecting the transfer of our non-U.S. Consumer financing receivables to financing receivables held for sale or assets of businesses held for sale.

FINANCING RECEIVABLES HELD FOR SALE

Financing receivables held for sale are recorded at the lower of cost or fair value, less cost to sell, and represent those financing receivables that management does not intend to hold for the foreseeable future. Subsequent declines in fair value are recognized in the period in which they occur. Valuations are primarily performed on a portfolio basis, except for commercial financing receivables which may be performed on an individual financing receivable basis. Interest income on financing receivables held for sale is accrued and subject to the nonaccrual policies described above. Because financing receivables held for sale are recognized at the lower of cost or fair value, less cost to sell, the allowance for losses and write-off policies do not apply to these financing receivables.

During the first quarter of 2015, we transferred all of our non-U.S. Consumer financing receivables to financing receivables held for sale or assets of businesses held for sale as a result of the GE Capital Exit Plan and the signing of an agreement to sell our consumer finance business in Australia and New Zealand.

The transfer of financing receivables to financing receivables held for sale and assets of businesses held for sale in the nine months ended September 30, 2015, totaled $29.0 billion and $5.5 billion, respectively. Prior to transferring the financing receivables to financing receivables held for sale we recognized a pre-tax provision for losses on financing receivables of $2.4 billion ($2.2 billion after-tax), to reduce the carrying value of the financing receivables to the lower of cost or fair value, less cost to sell, and wrote-off the associated balance of the allowance for losses of $2.9 billion to establish a new cost basis of the financing receivables held for sale at September 30, 2015.

For businesses held for sale, financing receivable balances of $5.5 billion and the related allowance for loan losses of $0.2 billion were reclassified to assets of businesses held for sale. The businesses held for sale were recorded at the lower of cost or fair value, less cost to sell.

A majority of the provision for losses on financing receivables recognized upon the transfer of financing receivables to financing receivables held for sale during the nine months ended September 30, 2015 relates to our Consumer non-U.S. residential mortgage portfolios in the U.K., France, Poland and Spain, which primarily comprise variable rate mortgages with a remaining weighted average maturity of more than ten years. We estimate that the effect on the provision for losses is largely attributable to credit loss exposures that are not incurred losses recognizable under GAAP but nevertheless affect fair value that would be determined by a market participant when pricing the portfolio.

2015 3Q FORM 10-Q  PAGE 17

As a result of the GE Capital Exit Plan and transfer of financing receivables to financing receivables held for sale or assets of businesses held for sale, nonaccrual receivables and impaired loan balances at December 31, 2014 were reduced by $1.2 billion and $1.0 billion, respectively. Loans held for sale are not reported as impaired, as these loans are recorded at lower of cost or fair value, less cost to sell.

Further information on financing receivables held for sale is provided in Note 2 to the consolidated financial statements.

FINANCIAL RESOURCES AND LIQUIDITY

LIQUIDITY AND BORROWINGS

We maintain a strong focus on liquidity. We manage our liquidity to help provide access to sufficient funding to meet our business needs and financial obligations throughout business cycles.

Our liquidity and borrowing plans are established within the context of our annual financial and strategic planning processes. Our liquidity and funding plans take into account the liquidity necessary to fund our operating commitments. We also take into account our capital allocation and growth objectives, including paying dividends.

We rely on a diversified source of funding, including the unsecured term debt markets, the global commercial paper markets, deposits, secured funding, retail funding products, bank borrowings and securitizations to fund our balance sheet. We also rely on cash generated through collection of principal, interest and other payments on our existing portfolio of loans and leases as well as dispositions to fund our operating and interest expense costs. Our liquidity position is targeted to meet our obligations under both normal and stressed conditions. We establish a funding plan annually that is based on the projected asset size and cash needs of the business, which, over the past few years, has incorporated our strategy to reduce our ending net investment. In connection with the GE Capital Exit Plan, we do not intend to issue any incremental unsecured term debt in the next five years. We expect to maintain an elevated liquidity position as we generate cash from asset sales, returning to more normalized levels in 2019. While we maintain elevated liquidity levels, we may engage in liability management actions, such as buying back debt, based on market and economic conditions.

Our 2015 funding plan anticipates repayment of principal on outstanding short-term borrowings, including the current portion of long-term debt ($37.0 billion at December 31, 2014), principally through dispositions, asset sales and cash on hand. Long-term maturities and early redemptions were $12.9 billion in the third quarter of 2015.

We maintain a detailed liquidity policy that requires us to maintain a contingency funding plan. The liquidity policy defines our liquidity risk tolerance under different stress scenarios based on our liquidity sources and also establishes procedures to escalate potential issues. We actively monitor our access to funding markets and our liquidity profile through tracking external indicators and testing various stress scenarios. The contingency funding plan provides a framework for handling market disruptions and establishes escalation procedures in the event that such events or circumstances arise. We will continue to evaluate the need to modify the existing contingency funding plan due to the GE Capital Exit Plan.

On April 10, 2015, Moody's Investors Service (Moody's) downgraded the senior unsecured debt rating for GE to A1 from Aa3 following GE's April 10 announcement of the GE Capital Exit Plan. GE's P-1 short-term rating was affirmed. Moody's affirmed GECC's A1/P-1 ratings. The rating outlook for GE and GECC remains stable. On April 10, 2015, Standard & Poor's Rating Services (S&P) affirmed GE's AA+/A-1+ ratings and GECC's AA+/A-1+ ratings each with a stable outlook. On October 7, 2015, S&P revised its outlook on GE's credit rating to negative from stable. S&P affirmed GE's AA+/A-1+ ratings.

As part of the GE Capital Exit Plan, on September 21, 2015 GE Capital commenced private offers to exchange up to $30 billion of certain outstanding debt for new notes with maturities of six months, five years, ten years or twenty years. On October 19, 2015, given the high level of participation, the offering was increased by $6 billion with the aggregate principal amount of $36 billion of outstanding notes being tendered for exchange and settled on October 26, 2015. The new notes that were issued at closing are composed of $15.3 billion of 0.964% Six Month Notes due 2016, £0.8 billion of 1.363%  Six Month Notes due 2016, $6.1 billion of 2.342% Notes due 2020, $2.0 billion of 3.373 % Notes due 2025 and $11.5 billion of 4.418 % Notes due 2035. Of the $16.2 billion exchanged into the Six Month Notes, $1.3 billion is in short term borrowings at September 30, 2015. GECC will continue to evaluate the opportunity to

2015 3Q FORM 10-Q  PAGE 18

repurchase debt while maintaining our liquidity at the levels communicated as part of the GE Capital Exit Plan. The new notes have been fully, irrevocably and unconditionally guaranteed by GE.

LIQUIDITY SOURCES

We maintain liquidity sources of $97.0 billion that consisted of cash and equivalents of $82.3 billion, high-quality, liquid investments of $3.2billion and cash and equivalents of $11.5 billion classified as discontinued operations and businesses held for sale. Additionally, we have $45.3billion of committed unused credit lines.

CASH AND EQUIVALENTS
(In billions)		September 30, 2015
U.S.	$	37.0
Non-U.S.		45.3	(a)
Total consolidated	$	82.3	(b)

(a) Of this amount at September 30, 2015, no cash was considered indefinitely reinvested.

(b) At September 30, 2015, cash and equivalents of about $17.0 billion were in regulated banks and insurance entities and were subject to regulatory restrictions.

COMMITTED UNUSED CREDIT LINES
(In billions)	September 30, 2015
Revolving credit agreements (exceeding one year)	$	24.5
Revolving credit agreements (364-day line)(a)		20.8
Total(b)	$	45.3

(a) Contain a term-out feature that allows us to extend borrowings for two years from the date on which such borrowings would otherwise be due.

(b) Total committed unused credit lines were extended to us by 47 financial institutions. GECC can borrow up to $45.3 billion under all of these credit lines. GE can borrow up to $14.8 billion under certain of these credit lines.

FUNDING PLAN

GE reduced its GE Capital ENI, excluding liquidity* to $176 billion at September 30, 2015.

During the first nine months of 2015, we completed issuances of $8.1 billion of senior unsecured debt (excluding securitizations described below) with maturities up to 10 years. In addition, Synchrony Financial completed issuances of $2.0 billion of senior unsecured debt including $1.0 billion in February 2015, maturing in 2020, and $1.0 billion in July 2015, maturing in 2025.

COMMERCIAL PAPER
(In billions)
Average commercial paper borrowings during the third quarter of 2015	$	22.5
Maximum commercial paper borrowings outstanding during the third quarter of 2015		25.1

Our commercial paper maturities have historically been funded principally through new commercial paper issuances. Our commercial paper borrowings as of September 30, 2015 were $12.9 billion. As announced on April 10, 2015, we are targeting to reduce the outstanding commercial paper to approximately $5 billion by the end of 2015.

We securitize financial assets as an alternative source of funding. During the first nine months of 2015, we completed $2.1 billion of non-recourse issuances and $5.2 billion of non-recourse borrowings matured. At September 30, 2015, consolidated non-recourse securitization borrowings were $16.2 billion.

We have nine deposit-taking banks outside of the U.S., five of which are classified as discontinued operations, and two deposit-taking banks in the U.S. – Synchrony Bank (formerly GE Capital Retail Bank), a Federal Savings Bank (FSB), and GE Capital Bank, an industrial bank (IB), which is also classified as discontinued operations. The FSB and IB currently issue certificates of deposit (CDs) in maturity terms up to 10 years.

*Non-GAAP Financial Measure

2015 3Q FORM 10-Q  PAGE 19

ALTERNATIVE FUNDING
(In billions)
Total alternative funding at December 31, 2014		$	86.4
Total alternative funding at September 30, 2015, as follows:			75.3
	Bank deposits		48.7
	Non-recourse securitization borrowings		16.2
	Funding secured by real estate, aircraft and other collateral		5.0
	Bank unsecured		5.4

As a matter of general practice, we routinely evaluate the economic impact of calling debt instruments where we have the right to exercise a call. In determining whether to call debt, we consider the economic benefit to GECC of calling debt, the effect of calling debt on our liquidity profile and other factors. During 2015, we called $0.6 billion of long-term debt.

INCOME MAINTENANCE AGREEMENT AND GE GUARANTEE OF CERTAIN GECC DEBT

GE provides implicit and explicit support to GECC through commitments, capital contributions and operating support. As part of the GE Capital Exit Plan, on April 10, 2015, GE and GECC entered into an amendment to their existing financial support agreement. Under this amendment (the Amendment), GE has provided a full and unconditional guarantee (the Guarantee) of the payment of principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC identified in the Amendment. In the aggregate, the Guarantee applied to approximately $184 billion of GECC debt as of September 30, 2015. The Guarantee replaced the requirement that GE make certain income maintenance payments to GECC in certain circumstances. GECC's U.S. public indentures were concurrently amended to provide the full and unconditional guarantee by GE set forth in the Guarantee.

2015 3Q FORM 10-Q  PAGE 20

STATEMENT OF CASH FLOWS - NINE MONTHS ENDED SEPTEMBER 30, 2015

Our business uses a variety of financial resources to meet its capital needs.  Cash for our business activities is primarily provided from the issuance of term debt and commercial paper in public and private markets and deposits, as well as financing receivables collections, sales and securitizations.

CASH FLOWS
	Nine months ended September 30
(In billions)		2015		2014
Cash from operating activities	$	4.0	$	6.8
Cash from investing activities		55.7		7.0
Cash used for financing activities		(43.7)		(10.6)

2015 – 2014 COMMENTARY:

GECC cash from operating activities decreased $2.8 billion primarily due to the following:

· A decrease in net cash collateral activity with counterparties on derivative contracts of $2.2 billion.

GECC cash from investing activities increased $48.6 billion primarily due to the following:

· In 2015, we closed the sale of certain of our Real Estate businesses and CLL businesses for proceeds of $25.6 billion and $16.8 billion, respectively.

· A net increase in financing receivables activity of $6.1 billion driven by higher net collections (which includes sales) of financing receivables.

· The 2014 payment of our obligation to the buyer of GE Money Japan for $1.7 billion.

· These increases were partially offset by the 2015 acquisition of Milestone Aviation Group, resulting in net cash paid of $1.7 billion.

GECC cash used for financing activities increased $33.1 billion primarily due to the following:

· Higher net repayments of borrowings of $29.4 billion driven primarily by a decrease in issuances of senior unsecured notes and an increase in short-term debt maturities.

· A decrease in deposits at our banks of $1.6 billion.

· Proceeds received from the initial public offering of Synchrony Financial of $2.8 billion in 2014.

· These increases were partially offset by GECC paying quarterly dividends of $0.5 billion and no special dividends to GE in the nine months ended September 30, 2015. GECC paid quarterly dividends of $1.5 billion and special dividends of $0.7 billion to GE in the nine months ended September 30, 2014.

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EXPOSURES

GECC SELECTED EUROPEAN EXPOSURES

At September 30, 2015, we had $28.1 billion in financing receivables to consumer and commercial customers in Europe, including $22.1 billion classified as financing receivables held for sale, and $6.0 billion classified as assets held for investment. The GECC financing receivables portfolio in Europe is well diversified across European geographies and customers. Approximately 88% of the portfolio is secured by collateral. Several European countries, including Spain, Portugal, Ireland, Italy, Greece and Hungary (focus countries), have been subject to credit deterioration due to weaknesses in their economic and fiscal situations. The carrying value of GECC funded exposures in these focus countries and in the rest of Europe comprised the following at September 30, 2015.

													Rest of		Total
(In millions)	Spain		Portugal		Ireland		Italy		Greece		Hungary		Europe		Europe
Financing receivables - net (a)(d)	$	339	$	74	$	251	$	1,422	$	-	$	377	$	3,525	$	5,988
Financing receivables held for sale		332		33		14		-		-		-		21,742		22,121
Investments(b)(c)		3		-		-		-		-		-		1,244		1,247
Cost and equity method investments(d)		-		-		443		-		-		-		292		735
Derivatives, net of collateral(b)(e)		-		-		-		-		-		-		318		318
Equipment leased to others (ELTO)(f)		368		250		562		452		266		195		7,081		9,174
Total funded exposures(g)(h)	$	1,042	$	357	$	1,270	$	1,874	$	266	$	572	$	34,202	$	39,583
Unfunded commitments(i)	$	-	$	-	$	31	$	-	$	-	$	-	$	2,066	$	2,097

(a) Financing receivable amounts are classified based on the location or nature of the related obligor.

(b) Investments and derivatives are classified based on the location of the parent of the obligor or issuer.

(c) Included $0.4 billion related to financial institutions, $47.5 million related to non-financial institutions and $0.8 billion related to sovereign issuers. We held no investments issued by sovereign entities in the countries of focus.

(d) Substantially all is non-sovereign.

(e) Net of cash collateral; entire amount is non-sovereign.

(f) These assets are held under long-term investment and operating strategies, and our ELTO strategies contemplate an ability to redeploy assets under lease should default by the lessee occur. The values of these assets could be subject to decline or impairment in the current environment.

(g) Excluded $29.6 billion of cash and equivalents, which is composed of $21.7 billion of cash on short-term placement with highly rated global financial institutions based in Europe, sovereign central banks and agencies or supranational entities, of which $0.5 billion is in focus countries, and $7.9 billion of cash and equivalents placed with highly rated European financial institutions on a short-term basis, secured by U.S. Treasury securities ($4.5 billion) and sovereign bonds of non-focus countries ($3.4 billion), where the value of our collateral exceeds the amount of our cash exposure.

(h) Rest of Europe included $1.5 billion and $0.1 billion of exposure for Russia and Ukraine, respectively, substantially all ELTO and financing receivables related to commercial aircraft in our GECAS portfolio.

(i) Includes ordinary course of business lending commitments, commercial and consumer unused revolving credit lines, inventory financing arrangements and investment commitments.

We manage counterparty exposure, including credit risk, on an individual counterparty basis. We place defined risk limits around each obligor and review our risk exposure on the basis of both the primary and parent obligor, as well as the issuer of securities held as collateral. These limits are adjusted on an ongoing basis based on our continuing assessment of the credit risk of the obligor or issuer. In setting our counterparty risk limits, we focus on high-quality credits and diversification through spread of risk in an effort to actively manage our overall exposure. We actively monitor each exposure against these limits and take appropriate action when we believe that risk limits have been exceeded or there are excess risk concentrations. Our collateral position and ability to work out problem accounts have historically mitigated our actual loss experience. Delinquency experience has been relatively stable in our European commercial and consumer platforms in the aggregate, and we actively monitor and take action to reduce exposures where appropriate. Uncertainties surrounding European markets could have an impact on the judgments and estimates used in determining the carrying value of these assets.

2015 3Q FORM 10-Q  PAGE 22

CRITICAL ACCOUNTING ESTIMATES

We utilized significant estimates in the preparation of the third quarter financial statements.

In addition to the discussion below on estimates used to determine the fair value of businesses and assets held for sale, please refer to the Critical Accounting Estimates section within MD&A and Note 1, Basis of Presentation and Summary of Significant Accounting Policies, to the consolidated financial statements of our Form 8-K Report filed on May 8, 2015 for a discussion of our accounting policies and the critical accounting estimates we use to: assess the recoverability of assets such as financing receivables and goodwill; determine the fair value of financial assets; and determine our provision for income taxes and recoverability of deferred tax assets.

BUSINESSES AND ASSETS HELD FOR SALE

Businesses held for sale represent components that meet the accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer.

As previously discussed, as a result of the GE Capital Exit Plan, management has committed to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months. As a result, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at September 30, 2015.

The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction as of September 30, 2015.

We review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values.

Further information is provided in Notes 2 and 10 to the consolidated financial statements of this Form 10-Q Report.

2015 3Q FORM 10-Q  PAGE 23

OTHER ITEMS

NEW ACCOUNTING STANDARDS

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB approved a one-year deferral of this standard, with a revised effective date for fiscal years beginning after December 15, 2017. Early adoption is permitted, although not prior to fiscal years beginning after December 15, 2016. The standard permits the use of either the retrospective or modified retrospective (cumulative effect) transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method and continue to evaluate the effect of the standard on our ongoing financial reporting.

In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis. The ASU amends the consolidation guidance for VIEs and general partners' investments in limited partnerships and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. We are currently evaluating the effect of the ASU on our consolidated financial statements and related disclosures. While we anticipate additional disclosures, we do not expect the ASU to have a significant impact on our consolidated financial statements.

2015 3Q FORM 10-Q  PAGE 24

CONTROLS AND PROCEDURES

Under the direction of our Chief Executive Officer and Chief Financial Officer, we evaluated our disclosure controls and procedures and internal control over financial reporting and concluded that our disclosure controls and procedures were effective as of September 30, 2015.

On April 10, 2015 GE announced that, as part of the GE Capital Exit Plan, its plan to dispose of a substantial portion of GE Capital's operations over the 2015-2017 timeframe. This plan will affect the operation of GE Capital's framework of internal controls over financial reporting as dispositions and other restructuring activities are executed. During the transition period, we have put in place enhanced procedures and controls to monitor and maintain our system of internal controls over financial reporting. We will continue to assess the effect of the plan on GE Capital's control environment and will make adjustments as appropriate.

2015 3Q FORM 10-Q  PAGE 25

REGULATIONS AND SUPERVISION

We are a regulated savings and loan holding company and in 2011 became subject to Federal Reserve Board (FRB) supervision under the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA). In 2013, the U.S. Financial Stability Oversight Council (FSOC) designated GECC as a nonbank systemically important financial institution (nonbank SIFI) under the DFA. As a result of this change in supervision and designation, stricter prudential regulatory standards and supervision apply to GECC. On July 20, 2015 the Federal Reserve published a final order applying enhanced prudential standards to GECC as a nonbank SIFI.

The final order staggers the application of the enhanced prudential standards with the first set of standards becoming applicable on January 1, 2016 and the second set becoming applicable on January 1, 2018.  Beginning on January 1, 2016 GECC will be subject to the standardized approach for calculating capital adequacy.  GECC will also be subject to a Liquidity Coverage Ratio (LCR) of 90% until December 31, 2016 at which time GECC will be subject to a 100% LCR coverage.

If GECC is still a nonbank SIFI on January 1, 2018 the second set of enhanced prudential standards will apply.  These standards include the application of the Federal Reserve's capital plan rule, stress testing rules, enhanced leverage ratio requirements, enhanced governance requirements, daily liquidity calculations, additional reporting requirements and a market terms requirement for transactions between GE and GECC.

While the enhanced prudential standards do not subject GECC to the Federal Reserve's capital plan rule applicable to large bank holding companies until the capital planning cycle beginning January 1, 2018, we conduct, among others, an annual review of our capital adequacy prior to establishing a plan for dividends to our parent. This review is based on a forward-looking assessment of our material enterprise risks and involves the consideration of a number of factors. This analysis also includes an assessment of our capital and liquidity levels, as well as incorporating risk management and governance considerations. The most recent capital adequacy review, which contemplated the GE Capital Exit Plan, was approved by the GECC board of directors and the GE Board of Directors Risk Committee in October 2015. While a savings and loan holding company and nonbank SIFI like GECC is currently not required to obtain FRB approval to pay a dividend, it may not, under FRB regulations, conduct its operations in an unsafe or unsound manner. The FRB has articulated factors that it expects boards of directors of bank holding companies and savings and loan holding companies to consider in determining whether to pay a dividend.

As a nonbank SIFI GECC is also required to submit an annual resolution plan to the FRB and Federal Deposit Insurance Corporation (FDIC). GECC submitted its first resolution plan to the FRB and FDIC on June 30, 2014 and feedback was provided on July 28, 2015. GECC's second Resolution Plan is due December 31, 2015, and we will work to address the July 28, 2015 feedback. Our resolution plan describes how GECC could be resolved under existing insolvency regimes in a manner that mitigates potential disruption to the U.S. financial system and the global financial markets without the use of government support or taxpayer funds. If the FRB and FDIC determine that our resolution plan is deficient, the DFA authorizes the FRB and FDIC to impose more stringent capital, leverage or liquidity requirements on us or restrict our growth or activities until we submit a plan remedying the deficiencies. If the FRB and FDIC ultimately determine that we have not adequately addressed the deficiencies, they could order us to divest assets or operations in order to facilitate our orderly resolution in the event of our failure.

We are also subject to the Volcker Rule, which U.S. regulators finalized on December 10, 2013. The rule prohibits companies that are affiliated with U.S. insured depository institutions from engaging in "proprietary trading" or acquiring or retaining ownership interest in, or sponsoring or engaging in certain transactions with, a "hedge fund" or a "private equity fund." Proprietary trading and fund investing, as prohibited by the rule, are not core activities for us. Once GE no longer controls GE Capital Bank or Synchrony Bank, and GECC's designation by the FSOC as a nonbank SIFI has been rescinded, the Volcker Rule will no longer apply to GECC or its affiliates.

As discussed in Management's Discussion and Analysis, on April 10, 2015, our parent company, General Electric (GE), announced the GE Capital Exit Plan to reduce the size of its financial services businesses. GE has discussed the GE Capital Exit Plan, aspects of which are subject to regulatory review and approval, with its regulators and staff of the FSOC and will work closely with these bodies to take the actions necessary over time to terminate the FSOC's designation of GECC (and the new intermediate holding company, as applicable) as a nonbank SIFI.

2015 3Q FORM 10-Q  PAGE 26

LEGAL PROCEEDINGS

The following information supplements and amends our discussion set forth under  "Legal Proceedings" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2015.

At October 29, 2015, there are 14 lawsuits relating to pending mortgage loan repurchase claims in which WMC, our U.S. mortgage business that we sold in 2007, is a party. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. While the alleged claims for relief vary from case to case, the complaints and counterclaims in these actions generally assert claims for breach of contract, indemnification, and/or declaratory judgment, and seek specific performance (repurchase) and/or monetary damages. Beginning in the fourth quarter 2013, WMC entered into settlements that reduced its exposure on claims asserted in certain securitizations, and the claim amounts reported herein reflect the effect of these settlements.

Five WMC cases are pending in the United States District Court for the District of Connecticut. Four of these cases were initiated in 2012, and one was initiated in the third quarter 2013. Deutsche Bank National Trust Company (Deutsche Bank) is the adverse party in four cases, and Law Debenture Trust Company of New York (Law Debenture) is the adverse party in one case. The Deutsche Bank complaints assert claims on approximately $4,300 million of mortgage loans and seek to recover damages in excess of approximately $1,800 million. The Law Debenture complaint asserts claims on approximately $800 million of mortgage loans, and alleges losses on these loans in excess of approximately $425 million. On March 31, 2014, the District Court denied WMC's motions to dismiss these cases.

Four WMC cases are pending in the United States District Court for the District of Minnesota against US Bank National Association (US Bank), one of which was initiated by WMC seeking declaratory judgment. Three of these cases were filed in 2012, and one was filed in 2011. The Minnesota cases involve claims on approximately $800 million of mortgage loans and do not specify the amount of damages sought. In September 2013, the District Court granted in part and denied in part WMC's motions to dismiss or for summary judgment in these cases.  On September 8, 2014, US Bank filed a petition for instructions in the administration of trusts in Minnesota state court seeking authorization and instruction for US Bank to implement the terms of a settlement agreement reached with WMC to compromise, settle, and release all claims arising out of the securitizations at issue in these four lawsuits. In February 2015, two bondholders filed objections to the proposed settlement, and in response the court has scheduled an evidentiary hearing for November 2015. In light of the state court action seeking approval of the proposed settlement, the District Court entered orders in April 2015 staying further proceedings in the four cases until August 2015.

Four cases are pending against WMC in New York State Supreme Court, all of which were initiated by securitization trustees or securities administrators. These cases involve, in the aggregate, claims involving approximately $4,559 million of mortgage loans. One of these lawsuits was initiated by Deutsche Bank in the second quarter 2013 and names as defendants WMC and Barclays Bank PLC. It involves claims against WMC on approximately $1,000 million of mortgage loans and does not specify the amount of damages sought. The second case, in which the plaintiff is The Bank of New York Mellon (BNY), was initiated in the fourth quarter 2012 and names as defendants WMC, J.P. Morgan Mortgage Acquisition Corporation and JPMorgan Chase Bank, N.A. BNY asserts claims on approximately $1,300 million of mortgage loans, and seeks to recover damages in excess of $650 million. The third case was initiated by BNY in November 2013 and names as defendants WMC, J.P. Morgan Mortgage Acquisition Corporation and JPMorgan Chase Bank, N.A. In this case, BNY asserts claims on approximately $1,300 million of mortgage loans, and seeks to recover damages in excess of $600 million.  On September 18, 2015, the court granted defendants' motion to dismiss this case on statute of limitations grounds, and the plaintiff filed a notice of appeal on October 21, 2015. The fourth case was filed in October 2014 and names as defendants WMC, J.P. Morgan Mortgage Acquisition Corporation and JPMorgan Chase Bank, N.A.  The plaintiff, BNY, asserts claims on approximately $959 million of mortgage loans and seeks to recover damages in excess of $475 million.

2015 3Q FORM 10-Q  PAGE 27

At September 30, 2015, two cases were pending against WMC in the United States District Court for the Southern District of New York. One case, in which the plaintiff is BNY, was filed in the third quarter 2012. In the second quarter 2013, BNY filed an amended complaint in which it asserts claims on approximately $900 million of mortgage loans, and seeks to recover damages in excess of $378 million. In September 2013, the District Court denied WMC's motion to dismiss. On September 18, 2014, the District Court issued an order directing the parties to participate in settlement discussions before a private mediator or the assigned magistrate judge. Following this mediation, the parties reached a settlement in principle on the claims arising from a portion of the loans held in the trust, and, as a result, on February 9, 2015 the District Court stayed the case as to these claims. This settlement became effective September 16, 2015. On September 18, 2015, following a court-ordered mediation before the assigned magistrate judge, the parties reached a settlement in principle on the remaining claims in the case, and the securitization trustee declared this settlement effective October 20, 2015. The second case was initiated by the Federal Housing Finance Agency (FHFA), which filed a summons with notice in the fourth quarter 2012. In the second quarter 2013, Deutsche Bank, in its role as securitization trustee of the trust at issue in the case, intervened as a plaintiff and filed a complaint relating to approximately $1,300 million of loans and alleging losses in excess of approximately $100 million. In December 2013, the District Court issued an order denying WMC's motion to dismiss. In February 2015, the District Court on its own motion requested that the parties re-brief several issues raised by WMC's motion to dismiss.  On July 10, 2015, the District Court entered an order dismissing the lawsuit as time-barred under the applicable statute of limitations. Deutsche Bank filed a notice of appeal from this order of dismissal on August 13, 2015.

The amounts of the claims at issue in these cases (discussed above) reflect the purchase price or unpaid principal balances of the mortgage loans at issue at the time of purchase and do not give effect to pay downs, accrued interest or fees, or potential recoveries based upon the underlying collateral. All of the mortgage loans involved in these lawsuits are included in WMC's reported claims at September 30, 2015. See Note 2 to the consolidated financial statements for additional information.

2015 3Q FORM 10-Q  PAGE 28

FINANCIAL STATEMENTS AND NOTES

Statement of Earnings (Loss)			30
Statement of Comprehensive Income (Loss)			32
Statement of Changes in Shareowners' Equity			32
Statement of Financial Position			33
Statement of Cash Flows			34
Notes to Consolidated Financial Statements
	1	Basis of Presentation and Summary of Significant Accounting Policies	35
	2	Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations	37
	3	Investment Securities	43
	4	Financing Receivables and Allowance for Losses	47
	5	Acquisitions, Goodwill and Other Intangible Assets	49
	6	Borrowings and Bank Deposits	51
	7	Income Taxes	52
	8	Shareowners' Equity	53
	9	Revenues from Services	55
	10	Fair Value Measurements	55
	11	Financial Instruments	61
	12	Variable Interest Entities	67
	13	Supplemental Information About the Credit Quality of Financing Receivables and Allowance for Losses	70

2015 3Q FORM 10-Q  PAGE 29

FINANCIAL STATEMENTS

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF EARNINGS (LOSS)
(UNAUDITED)
	Three months ended September 30
(In millions)		2015		2014
Revenues
Revenues from services(a)	$	6,292	$	6,358
Other-than-temporary impairment on investment securities:
Total other-than-temporary impairment on investment securities		(2)		(2)
Less other-than-temporary impairment recognized in
accumulated other comprehensive income		-		-
Net other-than-temporary impairment on investment securities recognized in earnings		(2)		(2)
Revenues from services (Note 9)		6,290		6,356
Sales of goods		21		28
Total revenues		6,312		6,384
Costs and expenses
Interest		1,151		1,061
Operating and administrative		2,255		2,032
Cost of goods sold		18		25
Investment contracts, insurance losses and insurance annuity benefits		717		700
Provision for losses on financing receivables (Note 4)		738		858
Depreciation and amortization		663		825
Total costs and expenses		5,542		5,501
Earnings (loss) from continuing operations before income taxes		769		883
Benefit (provision) for income taxes		48		15
Earnings (loss) from continuing operations		817		898
Earnings (loss) from discontinued operations, net of taxes (Note 2)		(347)		706
Net earnings (loss)		470		1,604
Less net earnings (loss) attributable to noncontrolling interests		83		55
Net earnings (loss) attributable to GECC		387		1,549
Preferred stock dividends declared		-		-
Net earnings (loss) attributable to GECC common shareowner	$	387	$	1,549
Amounts attributable to GECC common shareowner:
Earnings (loss) from continuing operations	$	817	$	898
Less net earnings (loss) attributable to noncontrolling interests		83		55
Earnings (loss) from continuing operations attributable to GECC		734		843
Preferred stock dividends declared		-		-
Earnings (loss) from continuing operations attributable to GECC common shareowner		734		843
Earnings (loss) from discontinued operations, net of taxes		(347)		706
Net earnings (loss) attributable to GECC common shareowner	$	387	$	1,549

(a)Excluding net other-than-temporary impairment on investment securities.

Amounts may not add due to rounding.

See accompanying notes.

2015 3Q FORM 10-Q  PAGE 30

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF EARNINGS (LOSS)
(UNAUDITED)
	Nine months ended September 30
(In millions)		2015		2014
Revenues
Revenues from services(a)	$	17,409	$	19,148
Other-than-temporary impairment on investment securities:
Total other-than-temporary impairment on investment securities		(21)		(18)
Less other-than-temporary impairment recognized in
accumulated other comprehensive income		-		4
Net other-than-temporary impairment on investment securities recognized in earnings		(21)		(14)
Revenues from services (Note 9)		17,388		19,134
Sales of goods		64		89
Total revenues		17,452		19,223
Costs and expenses
Interest		3,096		3,184
Operating and administrative		6,714		6,076
Cost of goods sold		58		81
Investment contracts, insurance losses and insurance annuity benefits		2,070		2,041
Provision for losses on financing receivables (Note 4)		4,636		2,693
Depreciation and amortization		1,841		1,929
Total costs and expenses		18,415		16,004
Earnings (loss) from continuing operations before income taxes		(963)		3,219
Benefit (provision) for income taxes		(6,164)		109
Earnings (loss) from continuing operations		(7,127)		3,328
Earnings (loss) from discontinued operations, net of taxes (Note 2)		(10,332)		2,070
Net earnings (loss)		(17,459)		5,398
Less net earnings (loss) attributable to noncontrolling interests		267		76
Net earnings (loss) attributable to GECC		(17,726)		5,322
Preferred stock dividends declared		(161)		(161)
Net earnings (loss) attributable to GECC common shareowner	$	(17,887)	$	5,161
Amounts attributable to GECC common shareowner:
Earnings (loss) from continuing operations	$	(7,127)	$	3,328
Less net earnings (loss) attributable to noncontrolling interests		267		76
Earnings (loss) from continuing operations attributable to GECC		(7,394)		3,252
Preferred stock dividends declared		(161)		(161)
Earnings (loss) from continuing operations attributable to GECC common shareowner		(7,555)		3,091
Earnings (loss) from discontinued operations, net of taxes		(10,332)		2,070
Net earnings (loss) attributable to GECC common shareowner	$	(17,887)	$	5,161

(a)Excluding net other-than-temporary impairment on investment securities.

Amounts may not add due to rounding.

See accompanying notes.

2015 3Q FORM 10-Q  PAGE 31

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Net earnings (loss)	$	470	$	1,604	$	(17,459)	$	5,398
Less net earnings (loss) attributable to noncontrolling interests		83		55		267		76
Net earnings (loss) attributable to GECC	$	387	$	1,549	$	(17,726)	$	5,322
Other comprehensive income (loss)
Investment securities	$	22	$	(260)	$	(431)	$	523
Currency translation adjustments		734		(546)		(596)		(510)
Cash flow hedges		(36)		90		(20)		188
Benefit plans		4		11		8		3
Other comprehensive income (loss)		725		(705)		(1,039)		204
Less other comprehensive income (loss)
attributable to noncontrolling interests		(1)		(4)		(24)		1
Other comprehensive income (loss) attributable to GECC	$	725	$	(701)	$	(1,015)	$	203
Comprehensive income (loss)	$	1,194	$	899	$	(18,498)	$	5,602
Less comprehensive income (loss) attributable to noncontrolling interests		82		51		243		77
Comprehensive income (loss) attributable to GECC	$	1,113	$	848	$	(18,741)	$	5,525

Amounts may not add due to rounding.

Amounts presented net of taxes. See Note 8 for further information about other comprehensive income (loss) and noncontrolling interests.

See accompanying notes.

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF CHANGES IN SHAREOWNERS' EQUITY
(UNAUDITED)
	Nine months ended September 30
(In millions)		2015		2014
GECC shareowners' equity balance at January 1	$	87,499	$	82,694
Increases (decreases) from net earnings (loss) attributable to GECC		(17,726)		5,322
Dividends and other transactions with shareowners		(611)		(2,382)
Other comprehensive income (loss) attributable to GECC		(1,015)		203
Changes in additional paid-in capital		20		436
Ending balance at September 30		68,166		86,273
Noncontrolling interests		3,160		2,804
Total equity balance at September 30	$	71,326	$	89,077

Amounts may not add due to rounding.

See Note 8 for further information about changes in shareowners' equity.

See accompanying notes.

2015 3Q FORM 10-Q  PAGE 32

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF FINANCIAL POSITION
(In millions, except share amounts)	September 30, 2015		December 31, 2014
	(Unaudited)
Assets
Cash and equivalents	$	82,276	$	69,011
Investment securities (Note 3)		36,868		38,320
Inventories		59		50
Financing receivables – net (Notes 4 and 13)		83,748		122,457
Other receivables		14,039		14,508
Property, plant and equipment, less accumulated amortization of $16,651 and $16,462		34,516		31,519
Goodwill (Note 5)		11,460		11,456
Other intangible assets – net (Note 5)		1,177		875
Other assets		19,155		23,198
Financing receivables held for sale (Note 2)		23,665		778
Assets of businesses held for sale (Note 2)		4,917		3,474
Assets of discontinued operations (Note 2)		121,940		186,924
Total assets(a)	$	433,819	$	502,570
Liabilities and equity
Short-term borrowings (Note 6)	$	42,880	$	67,705
Accounts payable		2,213		2,411
Non-recourse borrowings of consolidated securitization entities (Note 6)		16,225		19,369
Bank deposits (Note 6)		48,656		43,841
Long-term borrowings (Note 6)		164,183		186,759
Investment contracts, insurance liabilities and insurance annuity benefits		26,646		28,027
Other liabilities		11,330		9,549
Deferred income taxes		6,458		3,420
Liabilities of businesses held for sale (Note 2)		260		2,434
Liabilities of discontinued operations (Note 2)		43,642		48,657
Total liabilities(a)		362,493		412,172
Preferred stock, $0.01 par value (750,000 shares authorized at both September 30, 2015
and December 31, 2014, and 50,000 shares issued and outstanding
at both September 30, 2015 and December 31, 2014)		-		-
Common stock, $14 par value (4,166,000 shares authorized at both September 30, 2015
and December 31, 2014 and 1,000 shares issued and outstanding at both
September 30, 2015 and December 31, 2014)		-		-
Accumulated other comprehensive income (loss) – net(b)
Investment securities		580		1,010
Currency translation adjustments		(1,412)		(838)
Cash flow hedges		(192)		(172)
Benefit plans		(569)		(577)
Additional paid-in capital		33,019		32,999
Retained earnings		36,740		55,077
Total GECC shareowners' equity		68,166		87,499
Noncontrolling interests(c)(Note 8)		3,160		2,899
Total equity		71,326		90,398
Total liabilities and equity	$	433,819	$	502,570

(a) Our consolidated assets at September 30, 2015 included total assets of $41,815 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $27,701 million and investment securities of $1,412 million within continuing operations and assets of discontinued operations of $11,427 million. Our consolidated liabilities at September 30, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GECC. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $16,225 million within continuing operations and non-recourse borrowings of CSEs within discontinued operations of $8,072 million. See Note 12.

(b) The sum of accumulated other comprehensive income (loss) (AOCI) attributable to GECC was $(1,593) million and $(577) million at September 30, 2015 and December 31, 2014, respectively.

(c) Included AOCI attributable to noncontrolling interests of $(178) million and $(154) million at September 30, 2015 and December 31, 2014, respectively.

Amounts may not add due to rounding.

See accompanying notes.

2015 3Q FORM 10-Q  PAGE 33

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES
STATEMENT OF CASH FLOWS
(UNAUDITED)
	Nine months ending September 30
(In millions)	2015		2014
Cash flows – operating activities
Net earnings	$	(17,459)	$	5,398
Less net earnings (loss) attributable to noncontrolling interests		267		76
Net earnings (loss) attributable to GECC		(17,726)		5,322
(Earnings) loss from discontinued operations		10,332		(2,070)
Adjustments to reconcile net earnings (loss) attributable to GECC
to cash provided from operating activities
Depreciation and amortization of property, plant and equipment		1,841		1,929
Deferred income taxes		2,772		(689)
Increase (decrease) in accounts payable		165		764
Provision for losses on financing receivables		4,636		2,693
All other operating activities		1,934		(1,174)
Cash from (used for) operating activities – continuing operations		3,954		6,775
Cash from (used for) operating activities – discontinued operations		3,090		5,078
Cash from (used for) operating activities		7,044		11,853
Cash flows – investing activities
Additions to property, plant and equipment		(2,643)		(2,627)
Dispositions of property, plant and equipment		2,074		2,059
Increase in loans to customers		(39,744)		(54,829)
Principal collections from customers – loans		45,570		55,025
Investment in equipment for financing leases		(458)		(787)
Principal collections from customers – financing leases		834		1,956
Net change in credit card receivables		(1,667)		(2,950)
Proceeds from sale of discontinued operations		42,486		232
Proceeds from principal business dispositions		1,274		-
Net cash from (payments for) principal businesses purchased		(1,677)		-
All other investing activities		9,608		8,957
Cash from (used for) investing activities – continuing operations		55,657		7,036
Cash from (used for) investing activities – discontinued operations		7,218		(3,588)
Cash from (used for) investing activities		62,875		3,448
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)		(17,526)		(6,723)
Net increase (decrease) in bank deposits		5,329		6,933
Newly issued debt (maturities longer than 90 days)		14,336		26,547
Repayments and other reductions (maturities longer than 90 days)		(43,850)		(37,439)
Dividends paid to shareowners		(611)		(2,382)
Proceeds from initial public offering of Synchrony Financial		-		2,842
All other financing activities		(1,363)		(359)
Cash from (used for) financing activities – continuing operations		(43,685)		(10,581)
Cash from (used for) financing activities – discontinued operations		(4,496)		1,540
Cash from (used for) financing activities		(48,181)		(9,041)
Effect of currency exchange rate changes on cash and equivalents		(3,038)		(1,267)
Increase (decrease) in cash and equivalents		18,700		4,993
Cash and equivalents at beginning of year		75,101		75,105
Cash and equivalents at September 30		93,801		80,098
Less cash and equivalents of discontinued operations at September 30		11,226		5,070
Cash and equivalents of continuing operations at September 30	$	82,575	$	75,028

Amounts may not add due to rounding.

See accompanying notes.

2015 3Q FORM 10-Q  PAGE 34

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

General Electric Company (GE Company or GE) owns all of the common stock of General Electric Capital Corporation (GECC). Our financial statements consolidate all of our affiliates – companies that we control and in which we hold a majority voting interest. We also consolidate the economic interests we hold in certain businesses within companies in which we hold a voting equity interest and are majority owned by our parent, but which we have agreed to actively manage and control. See Note 1 to the consolidated financial statements of our Form 8-K filed on May 8, 2015 (2014 consolidated financial statements), which discusses our consolidation and financial statement presentation. GECC includes Commercial Lending and Leasing (CLL), Consumer, Energy Financial Services (EFS) and GE Capital Aviation Services (GECAS).

Effects of transactions between related companies are made on an arms-length basis and are eliminated. As a wholly-owned subsidiary, GECC enters into various operating and financing arrangements with its parent, GE. These arrangements are made on an arms-length basis and consist primarily of GECC dividends to GE; GE customer receivables sold to GECC; GECC services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECC; information technology (IT) and other services sold to GECC by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECC from third-party producers for lease to others; and various investments, loans and allocations of GE corporate costs.

We have reclassified certain prior-period amounts to conform to the current-period presentation. Effective September 30, 2015, certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. Unless otherwise indicated, information in these notes to the consolidated financial statements relates to continuing operations.

THE GE CAPITAL EXIT PLAN

On April 10, 2015, GE announced its plan (the GE Capital Exit Plan) to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months, and to focus on continued investment and growth in GE's industrial businesses. Under the GE Capital Exit Plan, which was approved on April 2, 2015 and aspects of which were approved on March 31, 2015, GE will retain certain GECC businesses, principally its vertical financing businesses— GE Capital Aviation Services, Energy Financial Services and Healthcare Equipment Finance—that directly relate to GE's core industrial domain and other operations, including Working Capital Solutions and our run-off insurance activities (together referred to as GE Capital Verticals or Verticals). The assets planned for disposition include Real Estate, most of Commercial Lending and Leasing and all Consumer platforms (including all U.S. banking assets).

In the nine months ended September 30, 2015, GE recorded $21,061 million of after-tax charges related to the GE Capital Exit Plan, including $362 million of after-tax charges recorded in the third quarter of 2015, primarily exit-related charges in our CLL business, partially offset by income associated with operations in CLL and Real Estate. A description of after-tax charges for the nine months ended September 30, 2015 is provided below.

· $9,756 million of net loss primarily related to the planned disposition of the Real Estate business and most of the CLL business, which is recorded in discontinued operations under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

· $6,209 million of tax expense related to expected repatriation of foreign earnings and write-off of deferred tax assets, of which $6,057 million is reported in GECC's Corporate component and $152 million is reported in our Consumer business all recorded in continuing operations under the caption "Benefit (provision) for income taxes" in the Statement of Earnings.

2015 3Q FORM 10-Q  PAGE 35

· $4,666 million of net asset impairments due to shortened hold periods, of which $3,151 million is recorded in continuing operations in our Consumer business primarily under the captions "Provisions for losses on financing receivables" and "Revenues from services" in the Statement of Earnings and $1,515 million is recorded in discontinued operations in our CLL business under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

· $430 million of restructuring and other charges, of which $337 million is recorded in continuing operations in GECC's Corporate component under the caption "Operating and administrative" in the Statement of Earnings and $93 million is recorded in discontinued operations in our CLL business under the caption "Earnings (loss) from discontinued operations, net of taxes" in the Statement of Earnings.

As part of the GE Capital Exit Plan, GE and GECC entered into an amendment to their existing financial support agreement. Under this amendment (the Amendment), GE has provided a full and unconditional guarantee (the Guarantee) of the payment of principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC identified in the Amendment. In the aggregate, the Guarantee applied to $183,670 million of GECC debt as of September 30, 2015. See Note 6. The Guarantee replaced the requirement that GE make certain income maintenance payments to GECC in certain circumstances.  GECC's U.S. public indentures were concurrently amended to provide the full and unconditional guarantee by GE set forth in the Guarantee.

See Notes 2 and 5 to the consolidated financial statements for additional information.

INTERIM PERIOD PRESENTATION

The consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. It is suggested that these consolidated financial statements be read in conjunction with the financial statements and notes thereto included in our 2014 consolidated financial statements. Effective for the first quarter of 2015, GECC is following a calendar quarter. Previously, we established interim quarterly closing dates using a fiscal calendar, which required our businesses to close their books on either a Saturday or Sunday, depending on the business.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

In addition to the policies referenced in our 2014 Form 10-K Report and Form 8-K filed on May 8, 2015, we have supplemented the discussion of our significant accounting policies and critical accounting estimates to describe the estimates used to determine the fair value of businesses and assets held for sale as follows.

BUSINESSES AND ASSETS HELD FOR SALE

Businesses held for sale represent components that meet accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer.

As previously discussed, as a result of the GE Capital Exit Plan, management has committed to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months. As a result, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at September 30, 2015.

The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a

2015 3Q FORM 10-Q  PAGE 36

hypothetical transaction as of September 30, 2015.

We review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values.

NOTE 2. BUSINESSES HELD FOR SALE, FINANCING RECEIVABLES HELD FOR SALE AND DISCONTINUED OPERATIONS

ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE

In the first quarter of 2015, we signed an agreement to sell our consumer finance business in Australia and New Zealand (ANZ Consumer Lending) for approximately 6,800 million Australian dollars and 1,400 million New Zealand dollars, respectively. On May 29, 2015, we sold a portion of the Australian business for gross proceeds of $671 million. As of September 30, 2015, ANZ Consumer Lending had assets and liabilities of $4,917 million and $260 million, respectively. The sale is targeted to close in 2015 with expected proceeds of approximately 6,000 million Australian dollars and 1,400 million New Zealand dollars. The transactions remain subject to customary closing conditions and regulatory approvals.

In the fourth quarter of 2014, we signed an agreement to sell our consumer finance business Budapest Bank to Hungary's government. On June 29, 2015 we completed the sale of Budapest Bank for proceeds of $700 million.

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	299	$	676
Investment securities		-		448
Financing receivables – net		4,141		2,144
Property, plant and equipment – net		15		37
Goodwill		366		106
Other intangible assets – net		73		13
Other		23		50
Assets of businesses held for sale	$	4,917	$	3,474
Liabilities
Short-term borrowings	$	27	$	435
Bank deposits		-		1,931
Deferred income taxes		(123)		(31)
Other		356		99
Liabilities of businesses held for sale	$	260	$	2,434

FINANCING RECEIVABLES HELD FOR SALE

In the first quarter of 2015, in connection with the GE Capital Exit Plan, we committed to sell all of our non-U.S. Consumer financing receivables. As a result, we transferred these financing receivables to held for sale and recognized a pre-tax provision for losses on financing receivables of $2,405 million ($2,197 million after tax) and wrote-off the associated balance of the allowance for loan losses of $2,859 million to reduce the carrying value of the financing receivables to the lower of cost or fair value, less cost to sell.

FINANCING RECEIVABLES HELD FOR SALE
(in millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	833		$	357
Energy Financial Services		-			35
GE Capital Aviation Services (GECAS)		14			27
Other		105			-
Total Commercial		952			419
Consumer		22,713	(a)		359
Total financing receivables held for sale	$	23,665		$	778

(a) Over 30 days past due and nonaccrual financing receivables related to consumer financing receivables held for sale were $1,060 million and $634 million, respectively.

2015 3Q FORM 10-Q  PAGE 37

DISCONTINUED OPERATIONS

Discontinued operations primarily included most of our CLL business, our Real Estate business and our U.S. mortgage business (WMC). Results of operations, financial position and cash flows for these businesses are separately reported as discontinued operations for all periods presented.

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,756	$	4,033	$	9,536	$	11,946
Earnings (loss) from discontinued operations before income taxes	$	1,060	$	666	$	203	$	2,062
Benefit (provision) for income taxes		(420)		40		33		(7)
Earnings (loss) from discontinued operations, net of taxes	$	640	$	706	$	236	$	2,055
Disposal
Gain (loss) on disposal before income taxes	$	(2,616)	$	-	$	(9,652)	$	14
Benefit (provision) for income taxes		1,629		-		(916)		1
Gain (loss) on disposal, net of taxes	$	(987)	$	-	$	(10,568)	$	15
Earnings (loss) from discontinued operations, net of taxes	$	(347)	$	706	$	(10,332)	$	2,070

2015 3Q FORM 10-Q  PAGE 38

(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	11,226	$	5,414
Investment securities		8,179		10,006
Financing receivables – net		11,622		114,561
Other receivables		1,470		2,183
Property, plant and equipment – net		12,084		18,051
Goodwill		9,867		13,569
Other intangible assets - net		44		301
Deferred income taxes		2,389		2,920
Financing receivables held for sale		65,390		3,116
Valuation allowance on disposal group classified as discontinued operations		(7,650)		-
Other		7,320		16,803
Assets of discontinued operations	$	121,940	$	186,924
Liabilities
Short-term borrowings	$	820	$	1,125
Accounts payable		3,884		3,770
Non-recourse borrowings		8,072		10,569
Bank deposits		18,348		18,998
Long-term borrowings		316		1,182
All other liabilities		9,595		7,610
Deferred income taxes		2,608		5,403
Liabilities of discontinued operations	$	43,642	$	48,657

COMMERCIAL LENDING AND LEASING

In connection with the GE Capital Exit Plan, we announced the planned disposition of most of our CLL business and classified this portion of the business as discontinued operations. We closed certain of our CLL business dispositions for proceeds of $21,215 million for the three and nine months ended September 30, 2015. We expect to dispose of substantially all of the remaining CLL business in 2015 and 2016.

FINANCIAL INFORMATION FOR COMMERCIAL LENDING AND LEASING
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,691	$	3,370	$	8,664	$	9,998
Interest	$	(576)	$	(762)	$	(1,919)	$	(2,324)
Operating and administrative		(900)		(942)		(2,905)		(2,732)
Depreciation and amortization		-		(988)		(1,768)		(2,923)
Provision for losses on financing receivables		13		(87)		(1,744)		(294)
Earnings (loss) from discontinued operations, before income taxes		1,228		591		328		1,725
Benefit (provision) for income taxes		(484)		(108)		(169)		(326)
Earnings (loss) from discontinued operations, net of taxes	$	744	$	483	$	159	$	1,399
Disposal
Gain (loss) on disposal before income taxes	$	(2,834)	$	-	$	(8,059)	$	-
Benefit (provision) for income taxes		1,629		-		(298)		-
Gain (loss) on disposal, net of taxes	$	(1,205)	$	-	$	(8,357)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	(461)	$	483	$	(8,198)	$	1,399

(a) Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $(1,608) million and $589 million for the three months ended September 30, 2015 and 2014, respectively, and $(7,736) million and $1,710 million for the nine months ended September 30, 2015 and 2014, respectively.

2015 3Q FORM 10-Q  PAGE 39

REAL ESTATE

In connection with the GE Capital Exit Plan, we announced the planned disposition of our Real Estate business and classified the business as discontinued operations. We closed certain of our Real Estate business dispositions for proceeds of $12,991 million and $30,508 million for the three and nine months ended September 30, 2015, respectively. We expect to dispose of substantially all of the remaining Real Estate business by the end of 2015.

FINANCIAL INFORMATION FOR REAL ESTATE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	81	$	698	$	893	$	1,992
Interest	$	(64)	$	(270)	$	(437)	$	(817)
Operating and administrative		(156)		(213)		(464)		(563)
Depreciation and amortization		-		(82)		(62)		(252)
Provision for losses on financing receivables		-		(12)		4		92
Earnings (loss) from discontinued operations,
before income taxes		(139)		121		(65)		452
Benefit (provision) for income taxes		53		55		95		251
Earnings (loss) from discontinued operations, net of taxes	$	(86)	$	176	$	30	$	703
Disposal
Gain (loss) on disposal before income taxes	$	218	$	-	$	(1,593)	$	-
Benefit (provision) for income taxes		-		-		(618)		-
Gain (loss) on disposal, net of taxes	$	218	$	-	$	(2,211)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	132	$	176	$	(2,181)	$	703

(a) Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $81 million and $120 million for the three months ended September 30, 2015 and 2014, respectively, and $(1,658) million and $452 million for the nine months ended September 30, 2015 and 2014, respectively.

2015 3Q FORM 10-Q  PAGE 40

WMC

During the fourth quarter of 2007, we completed the sale of WMC, our U.S. mortgage business. WMC substantially discontinued all new loan originations by the second quarter of 2007, and is not a loan servicer. In connection with the sale, WMC retained certain representation and warranty obligations related to loans sold to third parties prior to the disposal of the business and contractual obligations to repurchase previously sold loans that had an early payment default. All claims received by WMC for early payment default have either been resolved or are no longer being pursued.

The remaining active claims have been brought by securitization trustees or administrators seeking recovery from WMC for alleged breaches of representations and warranties on mortgage loans that serve as collateral for residential mortgage-backed securities (RMBS). At September 30, 2015, such claims consisted of $3,468 million of individual claims generally submitted before the filing of a lawsuit (compared to $3,694 million at December 31, 2014) and $8,411 million of additional claims asserted against WMC in litigation without making a prior claim (Litigation Claims) (compared to $9,225 million at December 31, 2014). The total amount of these claims, $11,879 million, reflects the purchase price or unpaid principal balances of the loans at the time of purchase and does not give effect to pay downs or potential recoveries based upon the underlying collateral, which in many cases are substantial, nor to accrued interest or fees. As of September 30, 2015, these amounts do not include approximately $426 million of repurchase claims relating to alleged breaches of representations that are not in litigation and that are beyond the applicable statute of limitations. WMC believes that repurchase claims brought based upon representations and warranties made more than six years before WMC was notified of the claim would be disallowed in legal proceedings under applicable law and the June 11, 2015 decision of the New York Court of Appeals in ACE Securities Corp. v. DB Structured Products, Inc., on the statute of limitations period governing such claims.

Reserves related to repurchase claims made against WMC were $832 million at September 30, 2015, reflecting a net increase to reserves in the three months ended September 30, 2015 of $7 million due to incremental provisions net of settlements. The reserve estimate takes into account recent settlement activity and is based upon WMC's evaluation of the remaining exposures as a percentage of estimated lifetime mortgage loan losses within the pool of loans supporting each securitization for which timely claims have been asserted in litigation against WMC. Settlements in prior periods reduced WMC's exposure on claims asserted in certain securitizations and the claim amounts reported above give effect to these settlements.

ROLLFORWARD OF THE RESERVE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Balance, beginning of period	$	825	$	549	$	809	$	800
Provision		28		40		46		142
Claim resolutions / rescissions		(21)		(1)		(23)		(354)
Balance, end of period	$	832	$	588	$	832	$	588

Given the significant litigation activity and WMC's continuing efforts to resolve the lawsuits involving claims made against WMC, it is difficult to assess whether future losses will be consistent with WMC's past experience. Adverse changes to WMC's assumptions supporting the reserve may result in an increase to these reserves. WMC estimates a range of reasonably possible loss from $0 to approximately $500 million over its recorded reserve at September 30, 2015. This estimate involves significant judgment and may not reflect the range of uncertainties and unpredictable outcomes inherent in litigation, including WMC litigation discussed in Legal Proceedings and potential changes in WMC's legal strategy. This estimate excludes any possible loss associated with an adverse court decision on the applicable statute of limitations, as WMC is unable at this time to develop such a meaningful estimate.

At September 30, 2015, there were 15 lawsuits involving claims made against WMC arising from alleged breaches of representations and warranties on mortgage loans included in 14 securitizations. WMC reached a settlement in principle on one of these lawsuits in the third quarter, and the settlement became effective October 20, 2015. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. Although the alleged claims for relief vary from case to case, the complaints and counterclaims in these actions generally assert claims for breach of contract, indemnification, and/or declaratory judgment, and seek specific performance (repurchase of defective mortgage loan) and/or money damages. Adverse court decisions, including in cases not involving WMC, could result in new claims and lawsuits on additional loans. However, WMC continues to believe that it has defenses to the claims asserted in litigation, including, for example, based on causation and materiality requirements and applicable statutes of limitations. It is not possible to predict the outcome or impact of these defenses and other factors, any of which could materially affect the amount of any loss ultimately incurred by WMC on these claims.

2015 3Q FORM 10-Q  PAGE 41

WMC has also received indemnification demands, nearly all of which are unspecified, from depositors/underwriters/sponsors of RMBS in connection with lawsuits brought by RMBS investors concerning alleged misrepresentations in the securitization offering documents to which WMC is not a party or, in two cases, involving mortgage loan repurchase claims made against RMBS sponsors. WMC believes that it has defenses to these demands.

To the extent WMC is required to repurchase loans, WMC's loss also would be affected by several factors, including pay downs, accrued interest and fees, and the value of the underlying collateral. The reserve and estimate of possible loss reflect judgment, based on currently available information, and a number of assumptions, including economic conditions, claim and settlement activity, pending and threatened litigation, court decisions regarding WMC's legal defenses, indemnification demands, government activity, and other variables in the mortgage industry. Actual losses arising from claims against WMC could exceed these amounts and additional claims and lawsuits could result if actual claim rates, governmental actions, litigation and indemnification activity, adverse court decisions, actual settlement rates or losses WMC incurs on repurchased loans differ from its assumptions.

FINANCIAL INFORMATION FOR WMC
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Total revenues (loss)	$	(22)	$	(34)	$	(26)	$	(70)
Earnings (loss) from discontinued operations, net of taxes	$	(21)	$	(25)	$	(37)	$	(57)

2015 3Q FORM 10-Q  PAGE 42

NOTE 3. INVESTMENT SECURITIES

Substantially all of our investment securities are classified as available-for-sale. These comprise mainly investment-grade debt securities supporting obligations to annuitants and policyholders in our run-off insurance operations. We do not have any securities classified as held-to-maturity.

	September 30, 2015								December 31, 2014
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
(In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value
Debt
U.S. corporate	$	19,975	$	3,102	$	(178)	$	22,899	$	19,810	$	3,962	$	(69)	$	23,703
State and municipal		3,972		439		(71)		4,340		4,173		555		(53)		4,675
Residential mortgage-backed(a)		905		84		(5)		984		1,544		153		(5)		1,692
Commercial mortgage-backed		2,295		121		(12)		2,405		2,903		170		(10)		3,063
Asset-backed		107		1		(10)		97		304		8		(17)		295
Corporate – non-U.S.		769		101		(3)		867		908		109		(1)		1,016
Government – non-U.S.		1,094		158		(1)		1,252		1,560		152		(2)		1,710
U.S. government and federal agency		3,783		99		-		3,882		1,957		56		-		2,013
Equity
Available-for-sale		113		16		(4)		125		109		24		(1)		132
Trading		19		-		-		19		21		-		-		21
Total	$	33,032	$	4,121	$	(285)	$	36,868	$	33,289	$	5,189	$	(158)	$	38,320

(a) Substantially collateralized by U.S. mortgages. At September 30, 2015, $961 million related to securities issued by government-sponsored entities and $23 million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

The fair value of investment securities decreased to $36,868 million at September 30, 2015, from $38,320 million at  December 31, 2014, primarily due to a decline in unrealized gains resulting from higher interest rates and net sales at Trinity, primarily related to mortgage-backed securities, partially offset by net purchases of U.S. government and federal agency securities at Synchrony Financial.

2015 3Q FORM 10-Q  PAGE 43

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
(In millions)	fair value		losses		(a)	fair value		losses		(a)
September 30, 2015
Debt
U.S. corporate	$	2,161	$	(130)		$	335	$	(48)
State and municipal		544		(16)			155		(55)
Residential mortgage-backed		175		(2)			77		(3)
Commercial mortgage-backed		351		(8)			26		(4)
Asset-backed		-		-			48		(10)
Corporate – non-U.S.		41		(3)			3		-
Government – non-U.S.		292		(1)			-		-
U.S. government and federal agency		450		-			1		-
Equity		38		(4)			-		-
Total	$	4,052	$	(164)		$	645	$	(121)	(b)
December 31, 2014
Debt
U.S. corporate	$	554	$	(16)		$	836	$	(53)
State and municipal		67		(1)			308		(52)
Residential mortgage-backed		30		-			146		(5)
Commercial mortgage-backed		165		(1)			204		(9)
Asset-backed		9		-			42		(17)
Corporate – non-U.S.		42		(1)			3		-
Government – non-U.S.		677		(2)			14		-
U.S. government and federal agency		705		-			1		-
Equity		6		(1)			-		-
Total	$	2,255	$	(22)		$	1,554	$	(136)

(a) Included gross unrealized losses of $1 million related to securities that had other-than-temporary impairments previously recognized at September 30, 2015.

(b) Includes debt securities held to support obligations to holders of GICs all of which are considered to be investment-grade by the major rating agencies at September 30, 2015.  

We regularly review investment securities for other-than-temporary impairment (OTTI) using both qualitative and quantitative criteria. For debt securities, our qualitative review considers our ability and intent to hold the security and the financial condition of and near-term prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. Our quantitative review considers whether there has been an adverse change in expected future cash flows. Unrealized losses are not indicative of the amount of credit loss that would be recognized and at September 30, 2015 are primarily due to increases in market yields subsequent to our purchase of the securities. We presently do not intend to sell the vast majority of our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell the vast majority of these securities before anticipated recovery of our amortized cost. The methodologies and significant inputs used to measure the amount of credit loss for our investment securities during 2015 have not changed. For equity securities, we consider the duration and the severity of the unrealized loss. We believe that the unrealized loss associated with our equity securities will be recovered within the foreseeable future.

Our corporate debt portfolio comprises securities issued by public and private corporations in various industries, primarily in the U.S. Substantially all of our corporate debt securities are rated investment grade by the major rating agencies.

Our RMBS portfolio is collateralized primarily by pools of individual, direct mortgage loans, of which substantially all are in a senior position in the capital structure of the deals, not other structured products such as collateralized debt obligations. Of the total RMBS held at September 30, 2015, $961 million and $23 million related to agency and non-agency securities, respectively. Additionally, $58 million was related to residential subprime credit securities, primarily supporting obligations to annuitants and policyholders in our run-off insurance operations. Substantially all of the subprime exposure is related to securities backed by mortgage loans originated in 2005 and prior and are investment grade.

2015 3Q FORM 10-Q  PAGE 44

Our commercial mortgage-backed securities (CMBS) portfolio is collateralized by both diversified pools of mortgages that were originated for securitization (conduit CMBS) and pools of large loans backed by high-quality properties (large loan CMBS), about half of which were originated in 2008 and prior. The vast majority of the securities in our CMBS portfolio have investment-grade credit ratings.

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Total pre-tax, OTTI recognized	$	2	$	2	$	21	$	18
Pre-tax, OTTI recognized in AOCI		-		-		-		(4)
Pre-tax, OTTI recognized in earnings(a)	$	2	$	2	$	21	$	14

(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million and none in the three months ended September 30, 2015 and 2014, respectively and $1 million and $2 million in the nine months ended September 30, 2015 and 2014, respectively.

CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Cumulative credit loss impairments recognized, beginning of period	$	6	$	255	$	8	$	306
Credit loss impairments recognized
on securities not previously impaired		-		-		-		-
Incremental credit loss impairments recognized
on securities previously impaired		-		2		-		4
Less credit loss impairments previously recognized
on securities sold during the period or that we intend to sell		-		-		2		53
Cumulative credit loss impairments recognized, end of period	$	6	$	257	$	6	$	257

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES)
	Amortized		Estimated
(In millions)	cost		fair value
Due
Within one year	$	2,162	$	2,171
After one year through five years		4,656		4,868
After five years through ten years		4,854		5,217
After ten years		17,921		20,983

We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations.

2015 3Q FORM 10-Q  PAGE 45

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Gains	$	21	$	1	$	122	$	37
Losses, including impairments		(6)		(5)		(41)		(18)
Net	$	15	$	(4)	$	81	$	19

Although we generally do not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing our investment securities portfolio, we may sell securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders. In some of our bank subsidiaries, we maintain a certain level of purchases and sales volume principally of non-U.S. government debt securities. In these situations, fair value approximates carrying value for these securities.

Proceeds from investment securities sales and early redemptions by issuers totaled $6,022 million and $623 million in the three months ended September 30, 2015 and 2014, respectively, principally from sales of U.S. government and federal agency securities in Trinity and Synchrony Financial and short-term government securities in our bank subsidiaries.

Proceeds from investment securities sales and early redemptions by issuers totaled $9,322 million and $1,995 million in the nine months ended September 30, 2015 and 2014, respectively, principally from sales of short-term government securities in our bank subsidiaries and sales of U.S. corporate and CMBS securities in our run-off insurance operations. In addition, proceeds from investment securities sales in the nine months ended September 30, 2015 included $6,486 million principally from sales of U.S. government and federal agency securities, CMBS and RMBS at Trinity and Synchrony Financial.

2015 3Q FORM 10-Q  PAGE 46

NOTE 4. FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES

The implementation of the GE Capital Exit Plan has caused significant reductions in our Consumer portfolio, as all of our non-U.S. consumer financing receivables have been reclassified to either financing receivables held for sale or assets of businesses held for sale. The transfer of financing receivables to financing receivables held for sale and assets of businesses held for sale totaled $29,016 million and $5,508 million in the nine months ended September 30, 2015, respectively. In addition, our Real Estate business and most of our CLL business have been classified as discontinued operations.

FINANCING RECEIVABLES, NET
(In millions)	September 30, 2015		December 31, 2014
Loans, net of deferred income	$	82,196	$	120,007
Investment in financing leases, net of deferred income		5,008		6,554
		87,204		126,561
Allowance for losses		(3,457)		(4,104)
Financing receivables – net	$	83,748	$	122,457

FINANCING RECEIVABLES BY PORTFOLIO AND ALLOWANCE FOR LOSSES

FINANCING RECEIVABLES
(In millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	13,341	(a)	$	14,418
Energy Financial Services		2,443			2,580
GE Capital Aviation Services (GECAS)		7,394			8,263
Other		506			480
Total Commercial		23,684			25,741
Consumer		63,520	(b)		100,820
Total financing receivables		87,204			126,561
Allowance for losses		(3,457)	(b)		(4,104)
Total financing receivables – net	$	83,748		$	122,457

(a) Includes Healthcare Equipment Finance and Working Capital Solutions, which purchases GE customer receivables.

(b) Includes Synchrony Financial, our U.S. consumer business.

2015 3Q FORM 10-Q  PAGE 47

ALLOWANCE FOR LOSSES
			Provision
	Balance at		charged to					Gross						Balance at
(In millions)	January 1		operations(a)		Other		(b)	write-offs		(a)(c)	Recoveries		(c)	September 30
2015
Commercial
CLL	$	21	$	20	$	-		$	(15)		$	6		$	32
Energy Financial Services		26		16		-			(29)			1			14
GECAS		46		(11)		-			(1)			3			37
Other		-		15		-			(13)			-			2
Total Commercial		93		40		-			(58)			10			85
Consumer		4,011		4,596		(252)			(5,622)			639			3,372
Total	$	4,104	$	4,636	$	(252)		$	(5,680)		$	649		$	3,457
2014
Commercial
CLL	$	17	$	8	$	(1)		$	(11)		$	7		$	20
Energy Financial Services		8		13		-			(17)			2			6
GECAS		17		9		-			(11)			-			15
Other		2		-		(2)			-			-			-
Total Commercial		44		30		(3)			(39)			9			41
Consumer		3,981		2,663		(120)			(3,203)			869			4,190
Total	$	4,025	$	2,693	$	(123)		$	(3,242)		$	878		$	4,231

(a) Provision charged to operations included $2,405 million and gross write-offs included $2,859 million related to the effects of the 2015 reclassification of non-U.S. consumer financing receivables to financing receivables held for sale recorded at the lower of cost or fair value, less cost to sell.

(b) Other primarily includes the reclassification of financing receivables to assets of businesses held for sale and the effects of currency exchange.

(c) Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.

2015 3Q FORM 10-Q  PAGE 48

NOTE 5. ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

ACQUISITIONS

Upon closing an acquisition, we estimate the fair values of assets and liabilities acquired and consolidate the acquisition as quickly as possible. Given the time it takes to obtain pertinent information to finalize the acquired company's balance sheet, then to adjust the acquired company's accounting policies, procedures, and books and records to our standards, it is often several quarters before we are able to finalize those initial fair value estimates. Accordingly, it is not uncommon for our initial estimates to be subsequently revised.

On January 30, 2015, we acquired Milestone Aviation Group (Milestone Aviation), a helicopter leasing business, for approximately $1,750 million, which is included in our GECAS segment. The preliminary purchase price allocation resulted in goodwill of approximately $730 million and amortizable intangible assets of approximately $345 million. The allocation of the purchase price will be finalized upon completion of post-closing procedures.

GOODWILL

CHANGES IN GOODWILL BALANCES
					Dispositions,
					currency
	Balance at				exchange		Balance at
(In millions)	January 1, 2015		Acquisitions		and other		September 30, 2015
CLL	$	25	$	-	$	86	$	111
Consumer		9,777		-		(689)		9,088
Energy Financial Services		1,507		-		(121)		1,386
GECAS		147		729		-		876
Total	$	11,456	$	729	$	(724)	$	11,460

Goodwill balances increased $4 million in the nine months ended September 30, 2015, primarily as a result of the acquisition of Milestone Aviation, partially offset by the reclassification of goodwill associated with ANZ Consumer Lending to assets of businesses held for sale and currency exchange effects of a stronger U.S. dollar.

We test goodwill for impairment annually in the third quarter of each year using data as of July 1 of that year. The impairment test consists of two steps: in step one, the carrying value of the reporting unit is compared with its fair value; in step two, which is applied when the carrying value is more than its fair value, the amount of goodwill impairment, if any, is derived by deducting the fair value of the reporting unit's assets and liabilities from the fair value of its equity, and comparing that amount with the carrying amount of goodwill. We determined fair values for each of the reporting units using the market approach, when available and appropriate, or the income approach, or a combination of both. We assess the valuation methodology based upon the relevance and availability of the data at the time we perform the valuation. If multiple valuation methodologies are used, the results are weighted appropriately.

Valuations using the market approach are derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses is based on the markets in which the reporting units operate giving consideration to risk profiles, size, geography, and diversity of products and services. A market approach is limited to reporting units for which there are publicly traded companies that have the characteristics similar to our businesses.

Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. We use our internal forecasts to estimate future cash flows and include an estimate of long-term future growth rates based on our most recent views of the long-term outlook for each business. Actual results may differ from those assumed in our forecasts. We derive our discount rates using a capital asset pricing model and analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. We use discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in our internally developed forecasts. Discount rates used in our reporting unit valuations ranged from 10.4% to 11.0%.

During the third quarter of 2015, we performed our annual impairment test of goodwill for all of our reporting units (i.e., CLL, Consumer, Energy Financial Services and GECAS). Based on the results of our step one testing, the fair values of each of the reporting units exceeded their carrying values; therefore, the second step of the impairment test was not required to be performed for any of our

2015 3Q FORM 10-Q  PAGE 49

reporting units and no goodwill impairment was recognized.

While all of our reporting units passed step one of our annual impairment testing in 2015, we identified one reporting unit for which the fair value was not substantially in excess of its carrying value. Primarily due to the sharp decline experienced in oil and gas prices and the prospect of a continuation of prevailing oil and gas prices, the fair value of our Energy Financial Services reporting unit has been impacted and is in excess of its carrying value by approximately 13%. The goodwill associated with our Energy Financial Services reporting unit was $1,386 million at September 30, 2015, representing approximately 12% of our total goodwill. While the goodwill of this reporting unit is not currently impaired, we will continue to monitor the oil and gas industry and the impact it may have on this reporting unit. As of September 30, 2015, we believe that the goodwill is recoverable for all of the reporting units; however, there can be no assurances that the goodwill will not be impaired in future periods.

Estimating the fair value of reporting units requires the use of estimates and significant judgments that are based on a number of factors including actual operating results. It is reasonably possible that the judgments and estimates described above could change in future periods.

OTHER INTANGIBLE ASSETS

INTANGIBLE ASSETS SUBJECT TO AMORTIZATION
	September 30, 2015						December 31, 2014
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
(In millions)	amount		amortization		Net		amount		amortization		Net
Customer-related	$	1,139	$	(501)	$	638	$	926	$	(489)	$	437
Capitalized software		947		(675)		272		1,228		(843)		385
Lease valuations		107		(16)		92		-		-		-
Trademarks		38		(7)		32		22		(12)		10
Patents and technology		9		(7)		3		9		(6)		3
Present value of future profits(a)		643		(643)		-		614		(614)		-
All other		263		(122)		141		134		(94)		40
Total	$	3,146	$	(1,971)	$	1,177	$	2,933	$	(2,058)	$	875

(a) Balances at September 30, 2015 and December 31, 2014 reflect adjustments of $272 million and $293 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized.

Intangible assets subject to amortization increased by $302 million in the nine months ended September 30, 2015, primarily as a result of the acquisition of Milestone Aviation, partially offset by amortization, currency exchange effects of a stronger U.S. dollar and the reclassification of intangible assets associated with ANZ Consumer Lending to assets of businesses held for sale.

Amortization expense related to intangible assets subject to amortization was $74 million and $69 million in the three months ended September 30, 2015 and 2014, respectively, and $239 million and $198 million in the nine months ended September 30, 2015 and 2014, respectively, and is recorded in operating and administrative expense on the financial statements.

2015 3Q FORM 10-Q  PAGE 50

NOTE 6. BORROWINGS AND BANK DEPOSITS

(In millions)	September 30, 2015		December 31, 2014
Short-term borrowings
Commercial paper(a)
U.S.	$	9,811	$	22,019
Non-U.S.		3,103		2,993
Current portion of long-term borrowings(a)(b)(c)		29,679		36,995
GE Interest Plus notes(d)		-		5,467
Other(c)		287		231
Total short-term borrowings	$	42,880	$	67,705
Long-term borrowings
Senior unsecured notes(a)(b)(e)	$	144,935	$	162,194
Subordinated notes(a)		4,715		4,804
Subordinated debentures(a)(f)(g)		6,782		7,085
Other(a)(c)(h)		7,751		12,676
Total long-term borrowings	$	164,183	$	186,759
Non-recourse borrowings of
consolidated securitization entities(i)	$	16,225	$	19,369
Bank deposits(j)	$	48,656	$	43,841
Total borrowings and bank deposits	$	271,944	$	317,674

(a) On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short term borrowings included $12,914 million of commercial paper and $28,373 million of the current portion of long-term borrowings. Long-term borrowings included $131,230 million of senior unsecured notes, $3,971 million of subordinated notes, $6,782 million of subordinated debentures, and $400 million of other.

(b) Included $431 million and $439 million of obligations to holders of GICs at September 30, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things.

(c) Included $4,969 million and $4,835 million of funding secured by real estate, aircraft and other collateral at September 30, 2015 and December 31, 2014, respectively, of which $1,216 million and $1,183 million is non-recourse to GECC at September 30, 2015 and December 31, 2014, respectively.

(d) Entirely variable denomination floating-rate demand notes. The GE Interest Plus program was closed effective August 31, 2015.

(e) Included $5,589 million and $3,594 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.

(f) Subordinated debentures receive rating agency equity credit.

(g) Included $2,636 million of subordinated debentures, which constitute the sole assets of trusts that have issued trust preferred securities and where GECC owns 100% of the common securities of the trusts. Obligations associated with these trusts are unconditionally guaranteed by GECC.

(h) Included $4,651 million and $8,245 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.

(i) Included $1,934 million and $3,377 million of current portion of long-term borrowings at September 30, 2015 and December 31, 2014, respectively. See Note 12.

(j) Included $8,108 million and $8,905 million of deposits in non-U.S. banks at September 30, 2015 and December 31, 2014, respectively, and $15,990 million and $14,500 million of certificates of deposits with maturities greater than one year at September 30, 2015 and December 31, 2014, respectively.

2015 3Q FORM 10-Q  PAGE 51

NOTE 7. INCOME TAXES

THE GE CAPITAL EXIT PLAN

In conjunction with the GE Capital Exit Plan, we will significantly reduce our non-U.S. assets while continuing to operate appropriately capitalized non-U.S. businesses with substantial assets related to our vertical financing businesses, Energy Financial Services, GECAS and Healthcare Equipment Finance. As a result of the GE Capital Exit Plan, we recognized tax expense of $6,209 million in the nine months ended September 30, 2015. This consisted of tax expense of $3,548 million in the nine months ended September 30, 2015, related to expected repatriation of excess foreign cash in the amount of approximately $36 billion including approximately $10 billion of foreign earnings and the write-off of deferred tax assets of $2,661 million in the nine months ended September 30, 2015, that will no longer be supported under this plan.

The expected repatriation of cash includes approximately $10 billion of foreign earnings that, prior to the approval of the GE Capital Exit Plan, were considered indefinitely reinvested in our international operations. Our indefinitely reinvested earnings will also be reduced by charges recognized in connection with the disposition of international assets. The remainder of the indefinitely reinvested earnings will continue to be reinvested in the significant international base of assets that will remain after the GE Capital Exit Plan is fully executed. The write-off of deferred tax assets largely relate to our Treasury operations in Ireland where the tax benefits will no longer be apparent to be realized upon implementation of the GE Capital Exit Plan.

UNRECOGNIZED TAX BENEFITS

UNRECOGNIZED TAX BENEFITS
(In millions)	September 30, 2015		December 31, 2014
Unrecognized tax benefits	$	2,957	$	3,055
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		2,215		2,259
Accrued interest on unrecognized tax benefits		359		420
Accrued penalties on unrecognized tax benefits		35		34
Reasonably possible reduction to the balance of unrecognized tax benefits
in succeeding 12 months		0-750		0-600
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		0-200		0-50

(a)Some portion of such reduction may be reported as discontinued operations.

The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2010-2011. In addition, certain other U.S. tax deficiency issues and refund claims for previous years are still unresolved. The IRS has disallowed the tax loss on our 2003 disposition of ERC Life Reinsurance Corporation. We have contested the disallowance of this loss. It is reasonably possible that the unresolved items could be resolved during the next 12 months, which could result in a decrease in our balance of unrecognized tax benefits – that is, the aggregate tax effect of differences between tax return positions and the benefits recognized in our financial statements. We believe that there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties.

2015 3Q FORM 10-Q  PAGE 52

NOTE 8. SHAREOWNERS' EQUITY

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
		Three months ended September 30			Nine months ended September 30
(In millions)		2015		2014		2015		2014
Investment securities
Beginning balance	$	558	$	1,092	$	1,010	$	309
Other comprehensive income (loss) (OCI) before reclassifications –
net of deferred taxes of $27, $(131), $(179) and $341		45		(241)		(355)		555
Reclassifications from OCI – net of deferred taxes
of $(20), $(15), $(50) and $(19)		(23)		(19)		(76)		(32)
Other comprehensive income (loss)(a)		22		(260)		(431)		523
Less OCI attributable to noncontrolling interests		-		2		-		2
Ending balance	$	580	$	830	$	580	$	830
Currency translation adjustments (CTA)
Beginning balance	$	(2,146)	$	(656)	$	(838)	$	(687)
OCI before reclassifications – net of deferred taxes
of $16, $201, $1,355 and $306		1		(532)		(1,635)		(502)
Reclassifications from OCI – net of deferred taxes
of $(628), $1, $(779) and $124		732		(14)		1,039		(8)
Other comprehensive income (loss)(a)		734		(546)		(596)		(510)
Less OCI attributable to noncontrolling interests		(1)		(6)		(23)		(1)
Ending balance	$	(1,412)	$	(1,196)	$	(1,412)	$	(1,196)
Cash flow hedges
Beginning balance	$	(156)	$	(195)	$	(172)	$	(293)
OCI before reclassifications –
net of deferred taxes of $(27), $(44), $(32) and $(6)		(135)		(314)		(651)		(341)
Reclassifications from OCI – net of deferred taxes
of $14, $27, $69 and $40		99		404		631		529
Other comprehensive income (loss)(a)		(36)		90		(20)		188
Less OCI attributable to noncontrolling interests		-		-		-		-
Ending balance	$	(192)	$	(105)	$	(192)	$	(105)
Benefit plans
Beginning balance	$	(574)	$	(371)	$	(577)	$	(363)
Net actuarial gain (loss) – net of deferred taxes
of $2, $1, $1 and $(5)		-		7		(4)		(10)
Prior service cost amortization – net of deferred taxes
of $0, $0, $0 and $0		-		-		(1)		1
Net actuarial loss amortization – net of deferred taxes
of $1, $2, $5 and $6		4		4		13		12
Other comprehensive income (loss)(a)		4		11		8		3
Less OCI attributable to noncontrolling interests		-		-		(1)		-
Ending balance	$	(569)	$	(360)	$	(569)	$	(360)
Accumulated other comprehensive income (loss) at September 30	$	(1,593)	$	(831)	$	(1,593)	$	(831)

 (a) Total other comprehensive income (loss) was $725 million and $(705) million in the three months ended September 30, 2015 and 2014, respectively, and $(1,039) million and $204 million in the nine months ended September 30, 2015 and 2014, respectively.

2015 3Q FORM 10-Q  PAGE 53

RECLASSIFICATION OUT OF AOCI
	Three months ended September 30					Nine months ended September 30
(In millions)	2015		2014		2015		2014		Statement of Earnings Caption
Available-for-sale securities
Realized gains (losses) on
sale/impairment of securities	$	42	$	34	$	126	$	51	Revenues from services(a)
		(20)		(15)		(50)		(19)	Benefit (provision) for income taxes(b)
	$	23	$	19	$	76	$	32	Net of tax
Currency translation adjustments
Gains (losses) on dispositions	$	(104)	$	13	$	(260)	$	(116)	Costs and expenses(c)
		(628)		1		(779)		124	Benefit (provision) for income taxes(d)
	$	(732)	$	14	$	(1,039)	$	8	Net of tax
Cash flow hedges
Gains (losses) on interest rate
derivatives	$	(39)	$	(53)	$	(100)	$	(182)	Interest
Foreign exchange contracts		(75)		(377)		(600)		(387)	(e)
		(114)		(430)		(699)		(569)	Total before tax
		14		26		69		40	Benefit (provision) for income taxes
	$	(99)	$	(404)	$	(631)	$	(529)	Net of tax
Benefit plan items
Amortization of prior service costs	$	-	$	-	$	1	$	(1)	(f)
Amortization of actuarial gains (losses)		(5)		(6)		(18)		(18)	(f)
		(5)		(6)		(17)		(19)	Total before tax
		1		2		5		6	Benefit (provision) for income taxes
	$	(4)	$	(4)	$	(12)	$	(13)	Net of tax
Total reclassification adjustments	$	(813)	$	(375)	$	(1,606)	$	(502)	Net of tax

(a) Included $28 million and $40 million for the three months ended September 30, 2015 and 2014, and $45 million and $34 million for the nine months ended September 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(b) Included $(15) million and $(15) million for the three months ended September 30, 2015 and 2014, and $(21) million and $(13) million for the nine months ended September 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(c) Included $(104) million and $1 million for the three months ended September 30, 2015 and 2014, and $(102) million and $(128) million for the nine months ended September 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(d) Included $(628) million and an insignificant amount for the three months ended September 30, 2015 and 2014, and $(764) million and $123 million for the nine months ended September 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(e) Included $(47) million and $(357) million in revenues from services and $(28) million and $(20) million in interest in the three months ended September 30, 2015 and 2014, respectively, and $(587) million and $(368) million in revenues from services and $(13) million and $(19) million in interest in the nine months ended September 30, 2015 and 2014, respectively.

(f) Amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs.

NONCONTROLLING INTERESTS

Noncontrolling interests in equity of consolidated affiliates includes common shares in consolidated affiliates and preferred stock issued by our affiliates. The balance is summarized as follows.

(In millions)		September 30, 2015		December 31, 2014
Synchrony Financial	$	2,790	$	2,531
Other noncontrolling interests in consolidated affiliates(a)		370		368
Total	$	3,160	$	2,899

(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates.

2015 3Q FORM 10-Q  PAGE 54

CHANGES TO NONCONTROLLING INTERESTS
		Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Beginning balance	$	3,083	$	350	$	2,899	$	432
Net earnings		83		55		267		76
Dividends		-		-		(5)		(1)
Dispositions		(3)		(6)		(9)		(98)
Synchrony Financial IPO		-		2,393		-		2,393
Other (including AOCI)		(2)		12		8		2
Ending balance	$	3,160	$	2,804	$	3,160	$	2,804

OTHER

We did not pay any quarterly dividends or special dividends to GE in the three months ended September 30, 2015. We paid quarterly dividends of $472 million and special dividends of $333 million to GE in the three months ended September 30, 2014. We paid quarterly dividends of $450 million and did not pay any special dividends to GE in the nine months ended, September 30, 2015. We paid quarterly dividends of $1,555 million and special dividends of $666 million to GE in the nine months ended September 30, 2014.

NOTE 9. REVENUES FROM SERVICES

	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest on loans	$	3,010	$	3,128	$	8,902	$	9,194
Equipment leased to others		1,179		1,111		3,519		3,400
Fees		839		852		2,426		2,466
Investment income		470		495		1,445		1,506
Associated companies(a)		158		189		893		796
Premiums earned by insurance activities		353		397		1,062		1,130
Financing leases		84		100		275		331
Other items(b)		198		84		(1,133)		311
Total	$	6,290	$	6,356	$	17,388	$	19,134

(a) Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest is included total assets at September 30, 2015 and December 31, 2014 of $54,302 million and $78,632 million, respectively. Assets were primarily financing receivables of $25,334 million and $46,481 million at September 30, 2015 and December 31, 2014, respectively. Total liabilities were $37,402 million and $57,273 million, consisted primarily of bank deposits of $17 million and $1,853 million at September 30, 2015 and December 31, 2014, respectively, and debt of $31,793 million and $39,147 million at September 30, 2015 and December 31, 2014, respectively. Revenues for the three months ended September 30, 2015 and 2014 totaled $2,990 million and $3,612 million, respectively, and net earnings for the three months ended September 30, 2015 and 2014 totaled $328 million and $784 million, respectively. Revenues for the nine months ended September 30, 2015 and 2014 totaled $9,469 million and $14,162 million, respectively, and net earnings for the nine months ended September 30, 2015 and 2014 totaled $1,030 million and $2,281 million, respectively.

(b) During the nine months ended September 30, 2015, other items primarily included impairments related to equity method investments ($1,392 million) in connection with the GE Capital Exit Plan.

NOTE 10. FAIR VALUE MEASUREMENTS

RECURRING FAIR VALUE MEASUREMENTS

Our assets and liabilities measured at fair value on a recurring basis include investment securities primarily supporting obligations to annuitants and policyholders in our run-off insurance operations.

2015 3Q FORM 10-Q  PAGE 55

ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
									Netting
(In millions)	Level 1		(a)	Level 2		(a)	Level 3		adjustment		(b)	Net balance
September 30, 2015
Assets
Investment securities
Debt
U.S. corporate	$	-		$	19,853		$	3,046	$	-		$	22,899
State and municipal		-			4,259			81		-			4,340
Residential mortgage-backed		-			981			2		-			984
Commercial mortgage-backed		-			2,403			1		-			2,405
Asset-backed		-			59			38		-			97
Corporate  ̶  non-U.S.		6			579			282		-			867
Government  ̶  non-U.S.		14			1,238			-		-			1,252
U.S. government and federal agency		-			3,573			309		-			3,882
Equity
Available-for-sale		100			14			10		-			125
Trading		19			-			-		-			19
Derivatives(c)		-			7,465			67		(6,325)			1,207
Total	$	138		$	40,425		$	3,837	$	(6,325)		$	38,075
Liabilities
Derivatives	$	-		$	4,382		$	7	$	(4,378)		$	11
Other		-			19			-		-			19
Total	$	-		$	4,401		$	7	$	(4,378)		$	29
December 31, 2014
Assets
Investment securities
Debt
U.S. corporate	$	-		$	20,659		$	3,044	$	-		$	23,703
State and municipal		-			4,560			115		-			4,675
Residential mortgage-backed		-			1,676			16		-			1,692
Commercial mortgage-backed		-			3,054			9		-			3,063
Asset-backed		-			172			123		-			295
Corporate  ̶  non-U.S.		-			680			336		-			1,016
Government  ̶  non-U.S.		-			1,708			2		-			1,710
U.S. government and federal agency		-			1,747			266		-			2,013
Equity
Available-for-sale		108			15			9		-			132
Trading		21			-			-		-			21
Derivatives(c)		-			8,981			27		(7,378)			1,630
Total	$	129		$	43,252		$	3,947	$	(7,378)		$	39,950
Liabilities
Derivatives	$	-		$	4,218		$	9	$	(4,171)		$	56
Other		-			20			-		-			20
Total	$	-		$	4,238		$	9	$	(4,171)		$	76

(a) There were no securities transferred between Level 1 and Level 2 in the nine months ended September 30, 2015. There were $487 million of Government – non-U.S. and $13 million of Corporate – non-U.S. available-for-sale debt securities transferred from Level 1 to Level 2 in the twelve months ended December 31, 2014 primarily attributable to changes in market observable data.

(b) The netting of derivative receivables and payables (including the effects of any collateral posted or received) is permitted when a legally enforceable master netting agreement exists.

(c) The fair value of derivatives includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $2 million and $15 million at September 30, 2015 and December 31, 2014, respectively. See Note 11 for additional information on the composition of our derivative portfolio.

2015 3Q FORM 10-Q  PAGE 56

LEVEL 3 INSTRUMENTS

The majority of our Level 3 balances consist of investment securities classified as available-for-sale with changes in fair value recorded in shareowners' equity.

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE THREE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	July 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,019	$	5	$	(7)	$	74	$	(28)	$	(37)	$	35	$	(14)	$	3,046	$	-
State and municipal		101		-		1		-		-		(5)		-		(17)		81		-
RMBS		2		-		-		-		-		(1)		-		-		2		-
CMBS		2		-		-		-		-		-		-		-		1		-
ABS		76		(2)		-		-		-		-		-		(36)		38		-
Corporate – non-U.S.		283		-		-		-		-		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		293		-		16		-		-		-		-		-		309		-
Equity
Available-for-sale		6		-		(1)		-		-		-		6		-		10		-
Derivatives(d)(e)		71		1		-		1		-		-		-		-		72		-
Total	$	3,855	$	4	$	9	$	75	$	(28)	$	(44)	$	41	$	(69)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	3,032	$	4	$	(1)	$	102	$	(56)	$	(90)	$	32	$	-	$	3,023	$	-
State and municipal		110		-		2		2		-		(1)		-		-		113		-
RMBS		66		-		-		-		-		(3)		-		(47)		16		-
CMBS		11		-		-		-		-		(1)		-		-		10		-
ABS		130		1		2		-		-		(4)		-		-		129		-
Corporate – non-U.S.		499		-		(1)		-		-		(23)		-		-		475		-
Government – non-U.S.		1		-		-		-		-		-		-		(1)		-		-
U.S. government and
federal agency		249		-		6		-		-		-		9		-		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		9		-		-		-		-		-		-		-		9		-
Derivatives(d)(e)		22		3		1		(1)		-		(1)		-		-		24		2
Total	$	4,130	$	8	$	9	$	103	$	(56)	$	(124)	$	41	$	(48)	$	4,063	$	2

(a) Earnings effects are primarily included in the "Revenues from services" and "Interest" captions in the Statement of Earnings (Loss).

(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c) Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the three months ended September 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

2015 3Q FORM 10-Q  PAGE 57

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE NINE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	January 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,044	$	16	$	(93)	$	248	$	(83)	$	(93)	$	35	$	(27)	$	3,046	$	-
State and municipal		115		-		(3)		-		-		(15)		-		(17)		81		-
RMBS		16		5		(4)		-		(15)		(1)		-		-		2		-
CMBS		9		-		-		-		(7)		-		-		-		1		-
ABS		123		(16)		(5)		-		(12)		(3)		-		(49)		38		-
Corporate – non-U.S.		336		-		(4)		-		(49)		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		266		-		44		-		-		(1)		-		-		309		-
Equity
Available-for-sale		9		2		(3)		6		(5)		(4)		6		-		10		-
Derivatives(d)(e)		28		-		3		-		-		-		42		-		72		-
Total	$	3,948	$	7	$	(65)	$	254	$	(171)	$	(118)	$	83	$	(95)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	2,751	$	22	$	126	$	440	$	(212)	$	(158)	$	170	$	(116)	$	3,023	$	-
State and municipal		96		-		9		12		-		(4)		-		-		113		-
RMBS		86		1		-		-		(16)		(8)		-		(47)		16		-
CMBS		10		-		-		-		-		(2)		2		-		10		-
ABS		145		3		6		-		-		(15)		-		(10)		129		-
Corporate – non-U.S.		503		13		42		-		(54)		(24)		1		(6)		475		-
Government – non-U.S.		31		-		-		-		-		-		-		(31)		-		-
U.S. government and
federal agency		225		-		32		-		-		-		9		(2)		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		11		-		-		2		(2)		(2)		-		-		9		-
Derivatives(d)(e)		19		7		1		(1)		-		(1)		(1)		-		24		12
Total	$	3,878	$	46	$	216	$	453	$	(284)	$	(215)	$	181	$	(212)	$	4,063	$	12

(a) Earnings effects are primarily included in the "Revenues from services" and "Interest" captions in the Statement of Earnings (Loss).

(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c)Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the nine months ended September 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

2015 3Q FORM 10-Q  PAGE 58

NON-RECURRING FAIR VALUE MEASUREMENTS

The following table represents non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis during the fiscal year and still held at September 30, 2015 and December 31, 2014.

	Remeasured during				Remeasured during
	the nine months ended				the year ended
	September 30, 2015				December 31, 2014
(In millions)	Level 2		Level 3		Level 2		Level 3
Financing receivables and financing receivables held for sale	$	-	$	18,152	$	1	$	584
Cost and equity method investments		1		2,336		-		334
Long-lived assets, including real estate		3		296		102		718
Total	$	4	$	20,785	$	103	$	1,636

The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at September 30, 2015 and 2014.

	Three months ended September 30				Nine months ended September 30
(In millions)		2015	2014		2015		2014
Financing receivables and financing receivables held for sale	$	(46)	$	(31)	$	(2,199)	$	(135)
Cost and equity method investments		(279)		(80)		(1,741)		(274)
Long-lived assets, including real estate		(85)		(262)		(125)		(312)
Total	$	(410)	$	(373)	$	(4,064)	$	(721)

2015 3Q FORM 10-Q  PAGE 59

LEVEL 3 MEASUREMENTS - SIGNIFICANT UNOBSERVABLE INPUTS
					Range
(Dollars in millions)	Fair value		Valuation technique	Unobservable inputs	(weighted average)
September 30, 2015
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	863	Income approach	Discount rate(a)	2.2%-15.3% (7.4%)
Asset-backed		38	Income approach	Discount rate(a)	5.0%-10.0% (9.1%)
Corporate  ̶  non-U.S.		226	Income approach	Discount rate(a)	6.5%-14.0% (7.4%)
Non-recurring fair value measurements
Financing receivables and financing receivables held for sale	$	18,015	Income approach	Discount rate(a)	5.6%-8.0% (6.7%)
Cost and equity method investments		2,134	Income approach,	Discount rate(a)	9.0%-14.5% (11.8%)
			Market comparables	Price to book multiple	0.4X-0.7X (0.6X)
Long-lived assets, including real estate		198	Income approach	Discount rate(a)	1.7%-9.8% (6.2%)
December 31, 2014
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	917	Income approach	Discount rate(a)	1.5%-14.8% (6.6%)
State and municipal		17	Income approach	Discount rate(a)	4.9%-4.9% (4.9%)
Asset-backed		102	Income approach	Discount rate(a)	4.3%-9.0% (5.6%)
Corporate  ̶  non-U.S.		278	Income approach	Discount rate(a)	3.3%-14.0% (6.5%)
Non-recurring fair value measurements
Cost and equity method investments		309	Income approach	Discount rate(a)	8.0%-10.0% (9.4%)
			Market comparables	EBITDA multiple	1.8X-5.2X (4.8X)
Long-lived assets, including real estate		664	Income approach	Discount rate(a)	2.0%-10.8% (6.7%)

(a) Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value.

At September 30, 2015 and December 31, 2014, other Level 3 recurring fair value measurements of $2,689 million and $2,594 million, respectively, and non-recurring measurements of $267 million and $657 million, respectively, are valued using non-binding broker quotes or other third-party sources. At September 30, 2015 and December 31, 2014, other recurring fair value measurements of $14 million and $30 million, respectively, and non-recurring fair value measurements of $171 million and $6 million, respectively, were individually insignificant and utilize a number of different unobservable inputs not subject to meaningful aggregation.

2015 3Q FORM 10-Q  PAGE 60

NOTE 11. FINANCIAL INSTRUMENTS

The following table provides information about assets and liabilities not carried at fair value. The table excludes finance leases and non-financial assets and liabilities. Substantially all of the assets discussed below are considered to be Level 3. The vast majority of our liabilities' fair value can be determined based on significant observable inputs and thus considered Level 2. Few of the instruments are actively traded and their fair values must often be determined using financial models. Realization of the fair value of these instruments depends upon market forces beyond our control, including marketplace liquidity.

	September 30, 2015						December 31, 2014
			Assets (liabilities)						Assets (liabilities)
	Notional		Carrying		Estimated		Notional		Carrying		Estimated
(In millions)	amount		amount (net)		fair value		amount		amount (net)		fair value
Assets
Loans	$	(a)	$	78,775	$	85,107	$	(a)	$	115,889	$	120,067
Other commercial mortgages		(a)		1,392		1,520		(a)		1,427		1,508
Loans held for sale		(a)		22,651		23,039		(a)		778		799
Other financial instruments(b)		(a)		161		195		(a)		122		136
Liabilities
Borrowings and bank deposits(c)(d)(e)		(a)		(271,944)		(283,092)		(a)		(317,674)		(333,956)
Investment contract benefits		(a)		(2,821)		(3,327)		(a)		(2,970)		(3,565)
Guaranteed investment contracts		(a)		(179)		(193)		(a)		(1,000)		(1,031)
Insurance - credit life(f)		-		-		-		1,843		(90)		(77)

(a) These financial instruments do not have notional amounts.

(b) Principally comprises cost method investments.

(c) See Note 6.

(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at September 30, 2015 and December 31, 2014 would have been reduced by $4,710 million and $5,020 million, respectively.

(e)            Included $1,994 million and $2,888 million of accrued interest in estimated fair value at September 30, 2015 and December 31, 2014, respectively.

(f) Net of reinsurance of none and $964 million at September 30, 2015 and December 31, 2014, respectively.

NOTIONAL AMOUNTS OF LOAN COMMITMENTS
(In millions)	September 30, 2015		December 31, 2014
Ordinary course of business lending commitments(a)	$	804	$	1,214
Unused revolving credit lines(b)
Commercial		2,054		2,908
Consumer – principally credit cards		321,710		306,188

(a) Excluded investment commitments of $579 million and $818 million at September 30, 2015 and December 31, 2014, respectively.

(b) Excluded amounts related to inventory financing arrangements, which may be withdrawn at our option, of $39 million and $47 million at September 30, 2015 and December 31, 2014, respectively.

2015 3Q FORM 10-Q  PAGE 61

SECURITIES REPURCHASE AND REVERSE REPURCHASE ARRANGEMENTS

Our issuances of securities repurchase agreements are insignificant and are limited to activities at certain of our foreign banks primarily for purposes of liquidity management. At September 30, 2015, we were party to repurchase agreements totaling $132 million, which were reported in short-term borrowings on the financial statements. No repurchase agreements were accounted for as off-book financing and we do not engage in securities lending transactions.

We also enter into reverse securities repurchase agreements, primarily for short-term investment with maturities of 90 days or less. At September 30, 2015, we were party to reverse repurchase agreements totaling $10.0 billion, which were reported in cash and equivalents on the financial statements. Under these reverse securities repurchase agreements, we typically lend available cash at a specified rate of interest and hold U.S. or highly-rated European government securities as collateral during the term of the agreement. Collateral value is in excess of amounts loaned under the agreements.

DERIVATIVES AND HEDGING

As a matter of policy, we use derivatives for risk management purposes and we do not use derivatives for speculative purposes. A key risk management objective for our financial services businesses is to mitigate interest rate and currency risk by seeking to ensure that the characteristics of the debt match the assets they are funding. If the form (fixed versus floating) and currency denomination of the debt we issue do not match the related assets, we typically execute derivatives to adjust the nature and tenor of funding to meet this objective within pre-defined limits. The determination of whether we enter into a derivative transaction or issue debt directly to achieve this objective depends on a number of factors, including market related factors that affect the type of debt we can issue.

The notional amounts of derivative contracts represent the basis upon which interest and other payments are calculated and are reported gross, except for offsetting foreign currency forward contracts that are executed in order to manage our currency risk of net investment in foreign subsidiaries. Of the outstanding notional amount of $250,000 million, approximately 99% or $247,000 million is associated with reducing or eliminating the interest rate, currency or market risk between financial assets and liabilities in our financial services businesses. The instruments used in these activities are designated as hedges when practicable. When we are not able to apply hedge accounting, or when the derivative and the hedged item are both recorded in earnings concurrently, the derivatives are deemed economic hedges and hedge accounting is not applied. This most frequently occurs when we hedge a recognized foreign currency transaction (e.g., a receivable or payable) with a derivative. Since the effects of changes in exchange rates are reflected concurrently in earnings for both the derivative and the transaction, the economic hedge does not require hedge accounting.

2015 3Q FORM 10-Q  PAGE 62

FAIR VALUE OF DERIVATIVES
	September 30, 2015				December 31, 2014
(In millions)	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Interest rate contracts	$	5,579	$	53	$	5,859	$	461
Currency exchange contracts		1,382		1,234		2,435		779
Other contracts		-		-		-		-
		6,961		1,287		8,294		1,240
Derivatives not accounted for as hedges
Interest rate contracts		144		61		111		68
Currency exchange contracts		383		3,033		595		2,910
Other contracts		44		8		8		9
		571		3,102		714		2,987
Gross derivatives recognized in statement of
financial position
Gross derivatives		7,532		4,389		9,008		4,227
Gross accrued interest		978		9		1,392		(24)
		8,510		4,398		10,400		4,203
Amounts offset in statement of financial position
Netting adjustments(a)		(3,481)		(3,483)		(3,695)		(3,710)
Cash collateral(b)		(2,844)		(895)		(3,683)		(461)
		(6,325)		(4,378)		(7,378)		(4,171)
Net derivatives recognized in statement of
financial position
Net derivatives		2,185		20		3,022		32
Amounts not offset in statement of
financial position
Securities held as collateral(c)		(1,510)		-		(3,003)		-
Net amount	$	675	$	20	$	19	$	32

Derivatives are classified in the captions "Other assets" and "Other liabilities" and the related accrued interest is classified in "Other receivables" and "Other liabilities" in our financial statements.

(a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At September 30, 2015 and December 31, 2014, the cumulative adjustment for non-performance risk was a gain (loss) of $2 million and $15 million, respectively.

(b) Excluded excess cash collateral received and posted of $53 million and $66 million at September 30, 2015, respectively, and $58 million and $211 million at December 31, 2014, respectively.

(c) Excluded excess securities collateral received of $34 million and $385 million at September 30, 2015 and December 31, 2014, respectively.

FAIR VALUE HEDGES

We use interest rate and currency exchange derivatives to hedge the fair value effects of interest rate and currency exchange rate changes on local and non-functional currency denominated fixed-rate debt. For relationships designated as fair value hedges, changes in fair value of the derivatives are recorded in earnings within interest along with offsetting adjustments to the carrying amount of the hedged debt.

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EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Three months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	1,391	$	(1,387)	$	341	$	(350)
Currency exchange contracts		(6)		5		(8)		8

Fair value hedges resulted in $3 million and $(9) million of ineffectiveness in the three months ended September 30, 2015 and 2014, respectively. In both the three months ended September 30, 2015 and 2014, there were insignificant amounts excluded from the assessment of effectiveness.

EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Nine months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	514	$	(594)	$	2,056	$	(2,129)
Currency exchange contracts		(6)		4		(11)		10

Fair value hedges resulted in $(82) million and $(74) million of ineffectiveness in the nine months ended September 30, 2015 and 2014, respectively. In both the nine months ended September 30, 2015 and 2014, there were insignificant amounts excluded from the assessment of effectiveness.

CASH FLOW HEDGES

We use interest rate, currency exchange and commodity derivatives to reduce the variability of expected future cash flows associated with variable rate borrowings and commercial purchase and sale transactions, including commodities. For derivatives that are designated in a cash flow hedging relationship, the effective portion of the change in fair value of the derivative is reported as a component of AOCI and reclassified into earnings contemporaneously and in the same caption with the earnings effects of the hedged transaction.

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	10	$	9	$	(39)	$	(53)
Currency exchange contracts		(136)		(302)		(75)		(377)
Total(a)	$	(126)	$	(293)	$	(113)	$	(430)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	-	$	-	$	(100)	$	(182)
Currency exchange contracts		(794)		(267)		(600)		(387)
Total(a)	$	(794)	$	(267)	$	(699)	$	(569)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

2015 3Q FORM 10-Q  PAGE 64

The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $213 million loss at September 30, 2015. We expect to transfer $189 million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In both the nine months ended September 30, 2015 and 2014, we recognized insignificant gains and losses related to hedged forecasted transactions and firm commitments that did not occur by the end of the originally specified period. At September 30, 2015 and 2014, the maximum term of derivative instruments that hedge forecasted transactions was 17 years and 18 years, respectively. See Note 8 for additional information about reclassifications out of AOCI.

For cash flow hedges, the amount of ineffectiveness in the hedging relationship and amount of the changes in fair value of the derivatives that are not included in the measurement of ineffectiveness were insignificant for each reporting period.

NET INVESTMENT HEDGES IN FOREIGN OPERATIONS

We use currency exchange derivatives to protect our net investments in global operations conducted in non-U.S. dollar currencies. For derivatives that are designated as hedges of net investment in a foreign operation, we assess effectiveness based on changes in spot currency exchange rates. Changes in spot rates on the derivatives are recorded as a component of AOCI until such time as the foreign entity is substantially liquidated or sold, or upon the loss of a controlling interest in a foreign entity. Additionally, lower of cost or fair value, less cost to sell, assessments of foreign entities classified as held for sale take into account the related AOCI. The change in fair value of any forward points, which reflects the interest rate differential between the two countries on the derivative, is excluded from the effectiveness assessment.

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	1,311	$	2,792	$	1,935	$	(24)

Reclassifications from CTA of $0 million and $(11) million were recorded in GECC revenues from services and $1,935 million and $(13) million in discontinued operations in the three months ended September 30, 2015 and 2014, respectively.

The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(37) million and $(147) million in the three months ended September 30, 2015 and 2014, respectively, and were recorded in interest and other financial charges.

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	4,749	$	2,194	$	2,524	$	(14)

Reclassifications from CTA of $(34) million and $(11)million were recorded in GECC revenues from services and $2,558 million and $(3) million in discontinued operations in the nine months ended September 30, 2015 and 2014, respectively.

The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(93) million and $(458) million in the nine months ended September 30, 2015 and 2014, respectively, and were recorded in interest and other financial charges.

2015 3Q FORM 10-Q  PAGE 65

FREE-STANDING DERIVATIVES

Changes in the fair value of derivatives that are not designated as hedges are recorded in earnings each period. As discussed above, these derivatives are typically entered into as economic hedges of changes in interest rates, currency exchange rates, commodity prices and other risks. Gains or losses related to the derivative are typically recorded in revenues from services, based on our accounting policy. In general, the earnings effects of the item that represent the economic risk exposure are recorded in the same caption as the derivative. Gains (losses) for the nine months ended September 30, 2015 on derivatives not designated as hedges were $(2,585) million composed of amounts related to interest rate contracts of $(101) million, currency exchange contracts of $(2,486) million, and other derivatives of $2 million. Substantially all of these losses were offset by the earnings effects from the underlying items that were economically hedged. Gains (losses) for the nine months ended September 30, 2014 on derivatives not designated as hedges were $(603) million composed of amounts related to interest rate contracts of $(53) million, currency exchange contracts of $(553) million and other derivatives of $3 million. These losses were offset by the earnings effects from the underlying items that were economically hedged.

COUNTERPARTY CREDIT RISK

Fair values of our derivatives can change significantly from period to period based on, among other factors, market movements and changes in our positions. We manage counterparty credit risk (the risk that counterparties will default and not make payments to us according to the terms of our agreements) on an individual counterparty basis. Where we have agreed to netting of derivative exposures with a counterparty, we net our exposures with that counterparty and apply the value of collateral posted to us to determine the exposure. We actively monitor these net exposures against defined limits and take appropriate actions in response, including requiring additional collateral.

As discussed above, we have provisions in certain of our master agreements that require counterparties to post collateral (typically, cash or U.S. Treasury securities) when our receivable due from the counterparty, measured at current market value, exceeds a specified limit. The fair value of such collateral was $4,354 million at September 30, 2015, of which $2,844 million was cash and $1,510 million was in the form of securities held by a custodian for our benefit. Under certain of these same agreements, we post collateral to our counterparties for our derivative obligations, the fair value of which was $895 million at September 30, 2015. At September 30, 2015, our exposure to counterparties (including accrued interest), net of collateral we hold, was $674 million. This excludes exposure related to embedded derivatives.

Additionally, our master agreements typically contain mutual downgrade provisions that provide the ability of each party to require termination if the long-term credit rating of the counterparty were to fall below A-/A3. In certain of these master agreements, each party also has the ability to require termination if the short-term rating of the counterparty were to fall below A-1/P-1. Our master agreements also typically contain provisions that provide termination rights upon the occurrence of certain other events, such as a bankruptcy or events of default by one of the parties. If an agreement was terminated under any of these circumstances, the termination amount payable would be determined on a net basis and could also take into account any collateral posted. The net amount of our derivative liability, after consideration of collateral posted by us and outstanding interest payments was $10 million at September 30, 2015. This excludes embedded derivatives.

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NOTE 12. VARIABLE INTEREST ENTITIES

We use variable interest entities primarily to securitize financial assets and arrange other forms of asset-backed financing in the ordinary course of business. Investors in these entities only have recourse to the assets owned by the entity and not to our general credit. We do not have implicit support arrangements with any VIE. We did not provide non-contractual support for previously transferred financing receivables to any VIE in 2015 or 2014.

CONSOLIDATED VARIABLE INTEREST ENTITIES

We consolidate VIEs because we have the power to direct the activities that significantly affect the VIE's economic performance, typically because of our role as either servicer or manager for the VIE. Our consolidated VIEs fall into two main groups, which are further described below:

· Consolidated Securitization Entities (CSEs) were created to facilitate securitization of financial assets and other forms of asset-backed financing that serve as an alternative funding source by providing access to variable funding notes and term markets. The securitization transactions executed with these entities are similar to those used by many financial institutions and all are non-recourse. We provide servicing for substantially all of the assets in these entities.

The financing receivables in these entities have similar risks and characteristics to our other financing receivables and were underwritten to the same standard. Accordingly, the performance of these assets has been similar to our other financing receivables; however, the blended performance of the pools of receivables in these entities reflects the eligibility criteria that we apply to determine which receivables are selected for transfer. Contractually the cash flows from these financing receivables must first be used to pay third-party debt holders as well as other expenses of the entity. Excess cash flows are available to GECC. The creditors of these entities have no claim on other assets of GECC.

· Other remaining assets and liabilities of consolidated VIEs relate primarily to three categories of entities: (1) joint ventures that lease equipment with $466 million of assets and $466 million of liabilities; (2) other entities that are involved in power generating and leasing activities with $331 million of assets and $187 million of liabilities; and (3) insurance entities that, among other lines of business, provide property and casualty and workers' compensation coverage for GE with $1,126 million of assets and $564 million of liabilities.

2015 3Q FORM 10-Q  PAGE 67

ASSETS AND LIABILITIES OF CONSOLIDATED VIEs
				Consolidated Securitization Entities(b)
				Credit		Trade
(In millions)	Trinity		(a)	cards		receivables			Other		Total
September 30, 2015
Assets(c)
Financing receivables, net	$	-		$	24,036	$	3,134	(d)	$	531	$	27,701
Investment securities		401			-		-			1,011		1,412
Other assets		45			144		2			1,084		1,275
Total	$	446		$	24,180	$	3,136		$	2,626	$	30,388
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	986	$	986
Non-recourse borrowings		-			13,640		2,516			69		16,225
Other liabilities		193			20		28			1,126		1,367
Total	$	193		$	13,660	$	2,544		$	2,181	$	18,578
December 31, 2014
Assets(c)
Financing receivables, net	$	-		$	25,645	$	3,028	(d)	$	1,030	$	29,703
Investment securities		2,369			-		-			1,005		3,374
Other assets		17			1,059		2			1,397		2,475
Total	$	2,386		$	26,704	$	3,030		$	3,432	$	35,552
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	513	$	513
Non-recourse borrowings		-			14,967		2,692			436		18,095
Other liabilities		1,022			332		26			1,129		2,509
Total	$	1,022		$	15,299	$	2,718		$	2,078	$	21,117

(a) Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $15 million and $1,565 million at September 30, 2015 and December 31, 2014, respectively.

(b) 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 September 30, 2015 and December 31, 2014, the amounts of commingled cash owed to the CSEs were $939 million and $1,091 million, respectively, and the amounts owed to us by CSEs were $170 million and $391 million, respectively.

(c) 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.

(d) Included $724 million and $686 million of receivables at September 30, 2015 and December 31, 2014, respectively, originated by GE Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received.

Revenues from services from our consolidated VIEs were $1,410 million and $1,593 million in the three months ended September 30, 2015 and 2014, respectively, and $4,313 million and $4,350 million in the nine months ended September 30, 2015 and 2014, respectively. Related expenses consisted primarily of provisions for losses of $189 million and $244 million in the three months ended September 30, 2015 and 2014, respectively, and $714 million and $791 million in the nine months ended September 30, 2015 and 2014, respectively, and interest of $75 million and $69 million in the three months ended September 30, 2015 and 2014, respectively, and $208 million and $195 million in the nine months ended September 30, 2015 and 2014, respectively. These amounts do not include intercompany revenues and costs, principally fees and interest between GECC and the VIEs, which are eliminated in consolidation.

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INVESTMENTS IN UNCONSOLIDATED VARIABLE INTEREST ENTITIES

Our involvement with unconsolidated VIEs consists of the following activities: assisting in the formation and financing of the entity; providing recourse and/or liquidity support; servicing the assets; and receiving variable fees for services provided. We are not required to consolidate these entities because the nature of our involvement with the activities of the VIEs does not give us power over decisions that significantly affect their economic performance.

The classification of our variable interests in these entities in our financial statements is based on the nature of the entity and the characteristics of the investment we hold.

INVESTMENTS IN UNCONSOLIDATED VIEs
(In millions)	September 30, 2015		December 31, 2014
Other assets and investment securities	$	601	$	632
Financing receivables – net		10		120
Total investments		611		752
Contractual obligations to fund investments, guarantees or revolving lines of credit		85		27
Total	$	696	$	779

In addition to the entities included in the table above, we also hold passive investments in RMBS, CMBS and asset-backed securities issued by VIEs. Such investments were, by design, investment-grade at issuance and held by a diverse group of investors. Further information about such investments is provided in Note 3.

2015 3Q FORM 10-Q  PAGE 69

NOTE13. SUPPLEMENTAL INFORMATION ABOUT THE CREDIT QUALITY OF FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES

As described in Note 4, our Consumer portfolio has been significantly reduced as all of our non-U.S. consumer financing receivableshavebeen reclassified to either financing receivables held for sale or assets of businesses held for sale. In addition our Real Estate business and most of our CLL business have been classified as discontinued operations.

CREDIT QUALITY INDICATORS

Detailed information about the credit quality of our Commercial and Consumer financing receivables portfolios is provided below. For each portfolio, we describe the characteristics of the financing receivables and provide information about collateral, payment performance, credit quality indicators and impairment. We manage these portfolios using delinquency and nonaccrual data as key performance indicators. The categories used within this section such as impaired loans, troubled debt restructuring (TDR) and nonaccrual financing receivables are defined by the authoritative guidance and we base our categorization on the related scope and definitions contained in the related standards. The categories of nonaccrual and delinquent are used in our process for managing our financing receivables.

PAST DUE AND NONACCRUAL FINANCING RECEIVABLES
		September 30, 2015								December 31, 2014
		Over 30 days		Over 90 days						Over 30 days		Over 90 days
(In millions)		past due		past due			Nonaccrual			past due		past due			Nonaccrual
Commercial
CLL	$	655	$	174		$	27		$	610	$	131		$	25
Energy Financial Services		63		63			82			-		-			68
GECAS		2		-			195			-		-			419
Total Commercial		720		237			304	(a)		610		131			512	(a)
Consumer		2,553		1,102	(b)		2	(c)		5,137		2,495	(b)		1,484	(c)
Total	$	3,273	$	1,339		$	306		$	5,747	$	2,626		$	1,996
Total as a percent of financing receivables		3.8 %		1.5 %			0.4 %			4.5 %		2.1 %			1.6 %

(a) Included $228 million and $484 million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

(b) Included $1,100 million and $1,231 million of Consumer loans at September 30, 2015 and December 31, 2014, respectively, which are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due.

(c) Included none and $179 million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

2015 3Q FORM 10-Q  PAGE 70

IMPAIRED LOANS AND RELATED RESERVES
	With no specific allowance						With a specific allowance
	Recorded		Unpaid		Average		Recorded		Unpaid					Average
	investment		principal		investment		investment		principal			Associated		investment
(In millions)	in loans		balance		in loans		in loans		balance			allowance(a)		in loans
September 30, 2015
Commercial
CLL	$	11	$	11	$	11	$	5	$	5		$	3	$	5
Energy Financial Services		82		100		54		-		-			-		6
GECAS		116		122		213		-		-			-		-
Other		-		-		-		-		-			-		-
Total Commercial(b)		209		233		278		5		5			3		11
Consumer(c)		-		-		35		736		640	(d)		242		1,055
Total	$	209	$	233	$	313	$	741	$	645		$	245	$	1,066
December 31, 2014
Commercial
CLL	$	10	$	10	$	7	$	5	$	5		$	4	$	4
Energy Financial Services		53		54		26		15		15			12		24
GECAS		329		337		88		-		-			-		15
Other		-		-		-		-		-			-		1
Total Commercial(b)		392		401		121		20		20			16		44
Consumer(c)		138		179		120		2,042		2,092			408		2,547
Total	$	530	$	580	$	241	$	2,062	$	2,112		$	424	$	2,591

(a) Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible.

(b) We recognized insignificant amounts of interest income, including none on a cash basis, in the nine months ended September 30, 2015, the year ended December 31, 2014 and the nine months ended September 30, 2014, respectively, in CLL. The total average investment in impaired loans for the nine months ended September 30, 2015 and the year ended December 31, 2014 was $289 million and $165 million, respectively.

(c) We recognized $48 million, $126 million and $135 million of interest income, including $1 million, $5 million and $3 million on a cash basis, in the nine months ended September 30, 2015, the year ended December 31, 2014 and the nine months ended September 30, 2014, respectively. The total average investment in impaired loans for the nine months ended September 30, 2015 and the year ended December 31, 2014 was $1,090 million and $2,667 million, respectively.

(d) Unpaid principal balance excludes accrued interest and fees.

(In millions)	Non-impaired financing receivables		General reserves		Impaired loans		Specific reserves
September 30, 2015
Commercial	$	23,470	$	82	$	214	$	3
Consumer		62,784		3,130		736		242
Total	$	86,254	$	3,212	$	950	$	245
December 31, 2014
Commercial	$	25,329	$	77	$	412	$	16
Consumer		98,640		3,603		2,180		408
Total	$	123,969	$	3,680	$	2,592	$	424

2015 3Q FORM 10-Q  PAGE 71

IMPAIRED LOAN BALANCE CLASSIFIED BY THE METHOD USED TO MEASURE IMPAIRMENT
(In millions)	September 30, 2015		December 31, 2014
Discounted cash flow	$	819	$	2,149
Collateral value		131		443
Total	$	950	$	2,592

Our loss mitigation strategy is intended to minimize economic loss and, at times, can result in rate reductions, principal forgiveness, extensions, forbearance or other actions, which may cause the related loan to be classified as a troubled debt restructuring (TDR), and also as impaired. The determination of whether these changes to the terms and conditions of our commercial loans meet the TDR criteria includes our consideration of all relevant facts and circumstances. At September 30, 2015, TDRs included in impaired loans were $860 million, primarily relating to Consumer ($736 million), GECAS ($112 million), Energy Financial Services ($7 million) and CLL ($5 million).

Impaired loans in our Consumer business represent restructured smaller balance homogeneous loans meeting the definition of a TDR, and are therefore subject to the disclosure requirement for impaired loans. Impaired loans classified as TDRs in our Consumer business were $736 million and $2,132 million at September 30, 2015 and December 31, 2014, respectively. We utilize certain loan modification programs for borrowers experiencing financial difficulties in our Consumer loan portfolio. These loan modification programs primarily include interest rate reductions and payment deferrals in excess of three months, which were not part of the terms of the original contract. For the nine months ended September 30, 2015, we modified $363 million of U.S. consumer loans, primarily credit cards for borrowers experiencing financial difficulties, which are classified as TDRs. We expect borrowers whose loans have been modified under these programs to continue to be able to meet their contractual obligations upon the conclusion of the modification. Of our $621 million and $1,074 million of consumer loans modifications classified as TDRs in the twelve months ended September 30, 2015 and 2014, respectively, $49 million and $95 million have subsequently experienced a payment default in the nine months ended September 30, 2015 and 2014, respectively.

SUPPLEMENTAL CREDIT QUALITY INFORMATION

COMMERCIAL

Substantially all of our Commercial financing receivables portfolio is secured lending and we assess the overall quality of the portfolio based on the potential risk of loss measure. The metric incorporates both the borrower's credit quality along with any related collateral protection.

Our internal risk ratings process is an important source of information in determining our allowance for losses and represents a comprehensive approach to evaluate risk in our financing receivables portfolios. In deriving our internal risk ratings, we stratify our Commercial portfolios into 21 categories of default risk and/or six categories of loss given default to group into three categories: A, B and C. Our process starts by developing an internal risk rating for our borrowers, which is based upon our proprietary models using data derived from borrower financial statements, agency ratings, payment history information, equity prices and other commercial borrower characteristics. We then evaluate the potential risk of loss for the specific lending transaction in the event of borrower default, which takes into account such factors as applicable collateral value, historical loss and recovery rates for similar transactions, and our collection capabilities. Our internal risk ratings process and the models we use are subject to regular monitoring and internal controls. The frequency of rating updates is set by our credit risk policy, which requires annual Risk Committee approval.

As described above, financing receivables are assigned one of 21 risk ratings based on our process and then these are grouped by similar characteristics into three categories in the table below. Category A is characterized by either high-credit-quality borrowers or transactions with significant collateral coverage that substantially reduces or eliminates the risk of loss in the event of borrower default. Category B is characterized by borrowers with weaker credit quality than those in Category A, or transactions with moderately strong collateral coverage that minimizes but may not fully mitigate the risk of loss in the event of default. Category C is characterized by borrowers with higher levels of default risk relative to our overall portfolio or transactions where collateral coverage may not fully mitigate a loss in the event of default.

2015 3Q FORM 10-Q  PAGE 72

COMMERCIAL FINANCING RECEIVABLES BY RISK CATEGORY
	Secured
(In millions)	A		B		C		Total
September 30, 2015
CLL	$	13,260	$	44	$	37	$	13,341
Energy Financial Services		2,301		41		-		2,342
GECAS		7,076		225		93		7,394
Other		153		-		-		153
Total	$	22,790	$	310	$	130	$	23,230
December 31, 2014
CLL	$	14,271	$	49	$	98	$	14,418
Energy Financial Services		2,479		60		16		2,555
GECAS		7,908		237		118		8,263
Other		130		-		-		130
Total	$	24,788	$	346	$	232	$	25,366

For our secured financing receivables portfolio, our collateral position and ability to work out problem accounts mitigate our losses. Our asset managers have deep industry expertise that enables us to identify the optimum approach to default situations. We price risk premiums for weaker credits at origination, closely monitor changes in creditworthiness through our risk ratings and watch list process, and are engaged early with deteriorating credits to minimize economic loss. Loans within Category C are reviewed and monitored regularly, and classified as impaired when it is probable that they will not pay in accordance with contractual terms. Our internal risk rating process identifies credits warranting closer monitoring; and as such, these loans are not necessarily classified as nonaccrual or impaired.

At September 30, 2015 and December 31, 2014, our unsecured commercial financing receivables included $165 million and $88 million rated A, and $289 million and $287 million rated B, respectively. We did not have any unsecured commercial financing receivables rated C at September 30, 2015 and December 31, 2014, respectively.

2015 3Q FORM 10-Q  PAGE 73

CONSUMER

At September 30, 2015, our U.S. consumer financing receivables included private-label credit card and sales financing for approximately 63 million customers across the U.S. with no metropolitan area accounting for more than 6% of the portfolio. Of the total U.S. consumer financing receivables, approximately 66% relate to credit card loans that are often subject to profit and loss sharing arrangements with the retailer (which are recorded in revenues), and the remaining 34% are sales finance receivables that provide financing to customers in areas such as electronics, recreation, medical and home improvement.

Our Consumer financing receivables portfolio comprises both secured and unsecured lending. Secured financing receivables are largely comprised of consumer installment loans secured by equipment. Unsecured financing receivables include private-label credit card financing. A substantial majority of these cards are not for general use and are limited to the products and services sold by the retailer. The private-label portfolio is diverse with no metropolitan area accounting for more than 5% of the related portfolio.

We assess overall credit quality of our U.S. installment and revolving credit portfolio using information from credit bureaus such as Fair Isaac Corporation (FICO) scores. FICO scores are generally obtained at origination of the account and are refreshed at a minimum quarterly, but could be as often as weekly, to assist in predicting customer behavior. We categorize these credit scores into the following three categories; (a) 661 or higher, which are considered the strongest credits; (b) 601 to 660, which are considered moderate credit risk; and (c) 600 or less, which are considered weaker credits.

	Refreshed FICO score
	September 30, 2015						December 31, 2014
	661 or		601 to		600 or		661 or		601 to		600 or
(in millions)	higher		660		less		higher		660		less
U.S. installment and
revolving credit	$	45,383	$	12,304	$	4,403	$	43,466	$	11,865	$	4,532

U.S. installment and revolving credit accounts with FICO scores of 600 or less have an average outstanding balance less than one thousand U.S. dollars and are primarily concentrated in our retail card and sales financing portfolios, which minimizes the potential for loss in the event of default. For lower credit scores, we adequately price for the incremental risk at origination and monitor credit migration through our risk ratings process. We continuously adjust our credit line underwriting management and collection strategies based on customer behavior and risk profile changes.

For our Consumer - Other portfolio, we develop our internal risk ratings for this portfolio in a manner consistent with the process used to develop our Commercial credit quality indicators, described above. We use the borrower's credit quality and underlying collateral strength to determine the potential risk of loss from these activities.

At September 30, 2015, Consumer - Other financing receivables of $1,138 million, $117 million and $175 million were rated A, B and C, respectively. At December 31, 2014, Consumer – Other financing receivables of $5,006 million, $276 million and $382 million were rated A, B and C, respectively.

2015 3Q FORM 10-Q  PAGE 74

EXHIBITS

Exhibit 2	Letter agreements and amendments to the Purchase and Sale Agreement, by and among General Electric Capital Corporation and Certain Affiliates as Seller Parties and BRE Imagination Holdco LLC, BRE Imagination Germany I LLC and BRE Imagination Germany II LLC as Purchaser, dated April 10, 2015.
Exhibit 12	Computation of Ratio of Earnings to Fixed Charges and Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends.
Exhibit 31(a)	Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended.
Exhibit 31(b)	Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended.
Exhibit 32	Certification Pursuant to 18 U.S.C. Section 1350.
Exhibit 99	Financial Measures That Supplement Generally Accepted Accounting Principles.
Exhibit 101	The following materials from General Electric Capital Corporation's Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, formatted in XBRL (eXtensible Business Reporting Language); (i) Statement of Earnings (Loss) for the three and nine months ended September 30, 2015 and 2014, (ii) Statement of Comprehensive Income (Loss) for the three and nine months ended September 30, 2015 and 2014, (iii) Statement of Changes in Shareowners' Equity for the nine months ended September 30, 2015 and 2014, (iv) Statement of Financial Position at September 30, 2015 and December 31, 2014, (v) Statement of Cash Flows for the nine months ended September 30, 2015 and 2014, and (vi) Notes to Consolidated Financial Statements.

2015 3Q FORM 10-Q  PAGE 75

FORM 10-Q CROSS REFERENCE INDEX

Item Number		Page(s)
Part I – FINANCIAL INFORMATION
Item 1.	Financial Statements	29-74
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	5-24,26
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	Not applicable(a)
Item 4.	Controls and Procedures	25
Part II – OTHER INFORMATION
Item 1.	Legal Proceedings	27-28
Item 1A.	Risk Factors	Not applicable(b)
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	Not applicable
Item 3.	Defaults Upon Senior Securities	Not applicable
Item 4.	Mine Safety Disclosures	Not applicable
Item 5.	Other Information	Not applicable
Item 6.	Exhibits	75
Signatures		77

(a) There have been no significant changes to our market risk since December 31, 2014. For a discussion of our exposure to market risk, refer to our Annual Report on Form 10-K for the year ended December 31, 2014.

(b) There have been no significant changes to our risk factors since December 31, 2014. For a discussion of our risk factors, refer to our Annual Report on Form 10-K for the year ended December 31, 2014.

2015 3Q FORM 10-Q  PAGE 76

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 thereunto duly authorized.

General Electric Capital Corporation (Registrant)
October 30, 2015	/s/ Walter Ielusic
Date	Walter Ielusic Senior Vice President and Controller Duly Authorized Officer and Principal Accounting Officer

2015 3Q FORM 10-Q  PAGE 77

EX-2

EXHIBIT 2

General Electric Capital Corporation
901 Main Avenue
Norwalk, Connecticut 06851

	July 15, 2015
BRE Imagination Holdco LLC
c/o The Blackstone Group
345 Park Avenue, 42nd Floor
New York, New York 10154
Attention: William Stein and Judy Turchin

Re: Letter Agreement (“Letter Agreement”) detailing certain amendments to the Purchase and Sale Agreement

Ladies and Gentlemen:

Reference is hereby made to that certain Purchase and Sale Agreement, dated as of April 10, 2015 (the “Purchase Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany IILLC, a Delaware limited liability company (collectively, “Purchaser”), on the other hand. Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement.

A.	Certain Equity Assets. The last sentence of Section 1.2(b)(ii) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“Notwithstanding the foregoing, in no event shall the Unadjusted Purchase Prices set forth on Schedule 1 or Schedule 3,as applicable, for the following assets be adjusted pursuant to Section 1.2or Section 1.4 of this Agreement (and the applicable Unadjusted Purchase Prices set forth on Schedule 1 or Schedule 3, as applicable, shall be included for such assets in the Estimated Initial Equity Purchase Price or the Estimated Initial Deferred Purchase Price, as applicable, without any such further adjustment):
			(A)the Purchased Interests on Schedule 1 with respect to the Purchased Entity known as “Martinez Cogen Limited Partnership”;
			(B) the Purchased Interests on Schedule 3 with respect to the Purchased Entities known as “Artemis Zweite Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, “Artemis Vierte Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, “Artemis Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, “Artemis Dritte Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, and “Artemis Grundstücksver-waltungsgesellschaft mbH”;

		(C) the Purchased Interests on Schedule 3 with respect to the Purchased Entity known as “Petrarca Fondo Comune di Investimento di Tipo Chiuso”; and
		(D) the Purchased Interests on Schedule 1 with respect to the Purchased Entity known as “Kimex Retail Land and Development Fund I, LP” (the “Kimco Interest”) (except that, solely with respect to the Equity Asset described in this clause (D), the applicable Unadjusted Purchase Price set forth on Schedule 1 with respect to such Equity Asset shall be (x) increased (on a dollar-for-dollar basis) at the applicable Closing by an amount equal to any capital contributions made by any Seller Party or Affiliate thereof to such Purchased Entity from March 31, 2015 through the applicable Closing Date, and (y) decreased (on a dollar-for-dollar basis) at the applicable Closing by an amount equal to any distribution received by any Seller Party or Affiliate thereof from such Purchased Entity from March 31, 2015 through the applicable Closing Date.”
B.	Petrarca. With respect to the Option Purchased Entity known as “Petrarca Fondo Comune di Investimento di Tipe Chiuso”, the reference on Schedule 3 of the Purchase Agreement in the column labeled “Option Unadjusted Asset Purchase Price Amount (EUR)” to “22,400,000” shall be deleted and replaced with EUR “500,000”.
C.	Belgium and Switzerland. The Parties acknowledge and agree that as of the Initial Equity Closing Date, the Properties situated in Belgium and Switzerland shall constitute Deferred Assets for purposes of this Agreement.
D.	Acquisition of Mexican SOFOM. The Seller Parties and the Purchaser Parties agree as follows:
		a.	The Purchaser Parties shall acquire the Interests in CRE Administradora de Cartera, S.A. de C.V., SOFOM, ENR (the “SOFOM” and the Interests therein, the “Purchased SOFOM Interests”). The SOFOM shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and Purchased SOFOM Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b),3.9(c) and  5.1(i)(E) to the Purchase Agreement shall be amended to add as additional information relating to the SOFOM and the Purchased SOFOM Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement.
		b.	The Purchaser Parties shall acquire the Purchased SOFOM Interests in lieu of purchasing the Purchased Commercial Loans set forth on Schedule C (the “SOFOM Loans”) attached hereto and the Unadjusted Purchase Price payable to the Seller Parties with respect to the Purchased SOFOM Interests shall be the amount of the aggregate amount of the Unadjusted Purchase Prices for the SOFOM Loans (which aggregate Unadjusted Purchase Price shall constitute the Unadjusted Purchase Price for the Purchased SOFOM Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement).
		c.	The acquisition of the SOFOM Interests (the “SOFOM Acquisition”) shall happen prior to the Transfer (by way of factoring) of the Purchased Commercial Loans set forth on Schedule C-2 (the “Non-SOFOM MX Loans”), which Non-SOFOM MX Loans, subject to the conditions set forth in the Purchase Agreement, shall be transferred from the Seller Parties to the SOFOM following the SOFOM Acquisition.

E.	Acquisition of OC Slovakia s.r.o. The Seller Parties and the Purchaser Parties agree as follows:
		a.	The Purchaser Parties shall acquire the Interests in OC Slovakia s.r.o. (the “Slovakian SPV” and the Interests therein, the “Slovakian Interests”). The Slovakian SPV shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and Slovakian Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b) and 3.9(c) to the Purchase Agreement shall be amended to add as additional information relating to the Slovakian SPV and the Slovakian Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement.
		b.	The Purchaser Parties shall acquire the Slovakian Interests in lieu of purchasing the Properties described as Euromax – Nitra, Euromax – Poprad, Euromax – Trencin and Euromax - Trnava on Schedule 2 of the Purchase Agreement (the “Slovakian Properties”), and, notwithstanding anything to the contrary in the Purchase Agreement, the Unadjusted Purchase Price payable to the Seller Parties with respect to the Slovakian Interests shall be the amount of €1.
		c.	Notwithstanding Section 1.4(a)(iv)(C)(1) of the Purchase Agreement or anything else to the contrary therein, the Seller Parties and Purchaser Parties agree that the intracompany receivables with respect to the Slovakia SPV (the “Slovakian Intracompany Receivables”) shall not be settled at or prior to Closing and shall instead be Transferred (by way of assignment of the applicable loan documentation) to the Purchaser Parties (and such Transfer of the Slovakian Intracompany Receivables and related loan documentation shall constitute an asset Transfer for purposes of the Purchase Agreement, including that (i) the applicable Purchaser Party acquiring such Slovakian Intracompany Receivables and related loan documentation shall be deemed to have made the representations and warranties set forth in Article IV of the Purchase Agreement with respect to the acquisition of such assets and (ii) the applicable Seller Party Transferring such Slovakian Intracompany Receivables and related loan documentation shall be deemed to have made the representations and warranties set forth in Sections 3.1, 3.2, 3.3, 3.19 and 3.22 of the Purchase Agreement with respect to the Transfer of such assets). The aggregate purchase price for the Slovakian Intracompany Receivables shall be equal to the aggregate amount of the Unadjusted Purchase Prices for the Slovakian Properties (which aggregate Unadjusted Purchase Prices shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement)
		d.	The Parties acknowledge and agree that, for U.S. federal income Tax purposes (and, where applicable, state, local, and foreign Tax purposes): (i) the applicable Purchaser Party of the Slovakian Intracompany Receivables shall be treated as purchasing, and GE Capital Eireann Funding I shall be treated as selling, all rights, interest and obligations of GE Capital Eireann Funding I under that certain Revolving Credit Agreement, dated December 27, 2013 for an amount equal to €58,345,562; and (ii) the Transfer of the Purchaser Interests in Slovakia SPV shall be treated as a transaction governed by Rev. Rul. 99-6, whereby each of GE Capital Investment Holding B.V. and GE Real Estate Czech Republic s.r.o. are treated as selling interests in Slovakia SPV for €1 and the applicable Purchaser Party acquiring the Purchased Interests in Slovakia SPV is treated as acquiring the assets of Slovakia SPV from each of GE Capital Investment Holding B.V. and GE Real Estate Czech Republic s.r.o.

F.	Acquisition of GE Real Estate Developments Limited. The Seller Parties and the Purchaser Parties agree as follows:
		a.	The Purchaser Parties shall acquire the Interests in GE Real Estate Developments Limited (the “GERED” and the Interests therein, the “GERED Interests”). The GERED shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and the GERED Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b) and 3.9(c) to the Purchase Agreement shall be amended to add as additional information relating to the GERED and the GERED Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement.
		b.	The Purchaser Parties shall acquire the GERED Interests in lieu of purchasing the Property described as REUK London EC4 98 Fetter Lane & 12 Norwich Street on Schedule 2 of the Purchase Agreement (the “Fetter Lane Property”). The Unadjusted Purchase Prices payable to the Seller Parties with respect to the GERED Interests, respectively, shall be the amount of the aggregate amount of the Unadjusted Purchase Price for the Fetter Lane Property (which aggregate Unadjusted Purchase Price shall constitute the Unadjusted Purchase Price for the GERED Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement). For the avoidance of doubt, the Property described as REUK Croydon 57 Croydon Road (Paynes Poppets) on Schedule 2 of the Purchase Agreement shall be Transferred to the Purchaser Parties prior to the acquisition of the GERED Interests by the Purchaser Parties.
G.	Acquisition of Soldeva Grupo de Inversiones. The Seller Parties and the Purchaser Parties agree as follows:
		a.	The Purchaser Parties shall acquire the Interests in Soldeva Grupo de Inversiones 2006, S.L. (“Soldeva” and the Interests therein, the “Soldeva Interests”). Soldeva shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and the Soldeva Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b) and 3.9(c) to the Purchase Agreement shall be amended to add as additional information relating to Soldeva and the Soldeva Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement.
		b.	The Purchaser Parties shall acquire the Soldeva Interests in lieu of purchasing the Property described as “Cortefiel-Aranjuez, Sector XI (78064001); Paseo del Deleite, s/n, Aranjuez, ESP” on Schedule 2 of the Purchase Agreement (the “Soldeva Property”). The Unadjusted Purchase Prices payable to the Seller Parties with respect to the Soldeva Interests, respectively, shall be the amount of the amount of the Unadjusted Purchase Price for the Soldeva Property (which Unadjusted Purchase Price shall constitute the Unadjusted Purchase Price for the Soldeva Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement).
		c.	In addition, the Parties acknowledge and agree that Soldeva is currently the plaintiff/claimant in an Action known as “Juicio ordinario 984/2013, First Instance Court n.92 of Madrid” pursuant to which Soldeva has claimed damages from is Lloyd’s Syndicate 4472 (the “Soldeva Proceeding”). The Parties hereby agree that, notwithstanding the Transfer of the Soldeva Interests to applicable Purchaser Party, all right, title and interest relating to the Soldeva Proceeding (and any costs of any kind or proceeding relating thereto) shall be retained by the Seller Parties. In furtherance of the foregoing, within five (5) Business Days following the applicable Closing Date with respect to the Transfer of the Soldeva Interests, Soldeva shall send a written notice to both the court representative (procurador) with respect to the Soldeva Proceeding and the applicable counsel representing Soldeva in connection with the Soldeva Proceeding to inform such Persons of the matters described in this paragraph G.c. For so long as the Soldeva Proceeding remains outstanding, the Seller Parties shall have the full right to determine, in their sole and absolute discretion, all actions to be taken in connection with the Soldeva Proceeding, including, without limitation, litigating, settling, waiving, compromising, appealing, challenging and/or enforcing the claim or parts of the claims related to the Soldeva Proceeding. In addition, in the event that any amounts become payable to Soldeva in connection with the Soldeva Proceeding (whether by judgment, settlement or otherwise), all such amounts (net of any taxes, charges or fees due in connection with the collection thereof) shall be paid to the applicable Seller Party as soon as reasonably practicable and in any event within fourteen days of receipt by Soldeva of such amounts (without deduction). For purposes of clarity, the Seller Parties shall bear all proper costs of any kind arising out of or in connection with the Soldeva Proceeding.

H.	Section 5.5(a). The third sentence of Section 5.5(a) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“Except to the extent provided for in Section 5.5(b), Transfer Taxes arising as a result of the Transactions shall be for the account of the Seller Parties, other than Transfer Taxes (if any) arising as a result of the Transactions set forth in Schedule 5.5(a); provided, however, that the Purchaser Parties shall bear EUR 5,000,000 of Transfer Taxes relating to the transfer of French-situated Equity Entities or Properties otherwise to be borne by the Seller Parties under this Section 5.5, which amount shall be in addition to the amount of any Transfer Taxes which may be due on the Transactions set forth on Schedule 5.5(a).”
I.	Section 5.5(c). The following shall be added to the Purchase Agreement as new Section 5.5(c) of the Purchase Agreement immediately following Section 5.5(b) of the Purchase Agreement:
		“In respect of European situated Equity Entities or Properties, any Transfer Taxes for the account of, or borne by, the Seller Parties pursuant to this Section 5.5 shall be paid, (i) by a Seller Party directly to the relevant Tax Authority so far as permitted by applicable Laws, or (ii) where Transfer Taxes are required to be paid to the relevant Tax Authority by a notary pursuant to applicable Laws, by the concerned Purchaser Party to such notary as part of the Unadjusted Purchase Price to the extent such Transfer Taxes are non-recoverable, or (iii) otherwise shall be paid to a Purchaser Party for payment by such Purchaser Party to the relevant Tax Authority. Any Transfer Taxes for the account of, or borne by, the Purchaser Parties pursuant to this Section 5.5 (except for any Transfer Taxes to be borne by the Purchaser Parties pursuant to Section 5.5(a) in respect of the transfer of French-situated Equity Entities or Properties) shall be paid, (x) by a Purchaser Party directly to the relevant Tax Authority so far as permitted by applicable Laws, in which case the Unadjusted Purchase Price shall not be reduced by such Transfer Taxes, or (y) otherwise shall be paid to a Seller Party for Payment by such Seller Party to the relevant Tax Authority. Where a payment is required between Parties pursuant to this Section 5.5(c), the Parties agree to use their respective Commercially Reasonable Efforts to ensure that payments are made between the Seller Party actually selling the relevant Purchased Interest, Transferred Property or Purchased Commercial Loan and the Purchaser Party actually purchasing such relevant Purchased Interest, Transferred Property or Purchased Commercial Loan by way of an adjustment to the Unadjusted Purchase Price.”

J.	Section 5.6(d). For the avoidance of doubt, the term “refund”, as used in Section 5.6(d) of the Purchase Agreement, shall include refundable tax credits, such as the IRES credit, but only to the extent the Purchaser Parties or the Seller Parties actually receive cash with respect to refundable tax credits (or a refundable tax credit offsets actual tax payable).
K.	Section 5.6(c). Section 5.6(c) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“The Seller Parties shall prepare all Tax Returns of the Purchased Entities and any Subsidiaries thereof for periods ending on or prior to the applicable Closing Date (“Pre-Closing Tax Periods”). All such Tax Returns shall be prepared consistent with the past practices of the Seller Parties unless otherwise required by applicable law. Regarding any such Tax Returns prepared after the Closing Date (except for (x) any Tax Returns to be filed with a Tax Authority in Mexico with respect to income (the “Mexico Tax Returns”), and (y) any Tax Returns related to value added Taxes (the “VAT Tax Returns”)), the Seller Parties shall deliver, or cause to be delivered, to the Purchaser Parties a draft of each such Tax Return (on a stand-alone pro forma basis) at least thirty (30) days before the due date for filing, including any applicable extensions (unless the applicable due date is less than sixty (60) days after the Closing Date, in which case the Seller Parties shall deliver, or cause to be delivered, to the Purchaser Parties such draft Tax Returns within a reasonable time prior to filing). The Purchaser Parties shall have fifteen (15) days from the receipt thereof to provide the Seller Parties with any comments or proposed adjustments to such draft Tax Returns for the Pre-Closing Tax Periods, and any such comments or proposed adjustments shall be considered by the Seller Parties in good faith. Regarding any such Mexico Tax Returns or VAT Tax Returns prepared after the Closing Date, the Seller Parties shall deliver, or cause to be delivered, to the Purchaser Parties a draft of each such Mexico Tax Return or VAT Tax Return (on a stand-alone pro forma basis) at least five (5) Business Days before the due date for filing, including any applicable extensions (unless the applicable due date is less than five (5) Business Days after the Closing Date, in which case the Seller Parties shall deliver, or cause to be delivered, to the Purchasing Parties such draft Mexico Tax Returns or VAT Tax Returns within a reasonable time prior to filing). The Purchaser Parties shall have three (3) Business Days from the receipt thereof to provide the Seller Parties with any comments or proposed adjustments to such draft Mexico Tax Returns or VAT Tax Returns for the Pre-Closing Tax Periods, and any such comments or proposed adjustments shall be considered by the Seller Parties in good faith. The Seller Parties shall timely file, or cause to be timely filed, such Tax Returns (including Mexico Tax Returns and VAT Tax Returns) for the Pre-Closing Tax Periods and timely pay, or cause to be timely paid, all Taxes shown as due thereon.”
L.	Section 5.8(a). Section 5.8(a) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“Except (i) as otherwise provided in this Section 5.8(a), (ii) as set forth on Schedule 5.1(i)(E), or (iii) pursuant to an Alternative Transaction undertaken in accordance with Section 1.5 (specifically including any requirements for consent set forth therein), no election pursuant to Section 338(g) of the Code (or any corresponding provision of state, local, or foreign Tax Law) shall be made with respect to the Transactions contemplated by this Agreement without the prior written consent of the applicable Purchaser Parties and applicable Seller Parties. Any request by any Party to make such election shall be given good faith consideration by the other Party. Notwithstanding anything to the contrary in this Section 5.8(a), the applicable Purchaser Parties shall make a valid and timely election under Section 338(g) of the Code for SOFOM and shall not assign any rights or obligations under this Agreement in such a manner that could reasonably be expected to prevent such election from being valid, effective or timely. Any state or local Transfer Taxes that arise as a result of any election under Section 338(g) of the Code with respect to the Transactions contemplated hereunder shall be governed by Section 5.5 hereof.”

M.	Commercial Backlog Assets. The second sentence of Section 5.23 of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“In the event that the Seller Parties elect to fund or sell any Commercial Loan Backlog prior to an applicable Closing (each a “Backlog Asset”), the Purchaser Parties shall have the right, but not the obligation, to acquire such Backlog Asset in accordance with the terms of this Agreement.”
N.	Exercise of Option. The Parties acknowledge and agree that the requirement in Section 6.1 of the Purchase Agreement that the Option be exercised with respect to “all (but not less than all)” was not intended to (a) restrict the sale, disposition or Transfer of the Property listed as “Artemis - Leipzig (LEP)” on Schedule 3 (the “Leipzig Property”), or (b) eliminate the ability of the Seller Parties to exercise the Option in the event of the sale, disposition or Transfer of the Leipzig Property. As such, for purposes of clarity, Section 6.1 of the Purchase Agreement shall be amended to add the following sentence as the final sentence of Section 6.1 of the Purchase Agreement:
		“Notwithstanding anything to the contrary contained herein, the sale, disposition or Transfer of the Property listed as “Artemis - Leipzig (LEP)” on Schedule 3 (the “Leipzig Property”) shall not prevent any right of Seller to exercise the Option in accordance with the terms of this Section 6.1 and the Option shall remain exercisable during the Option Period following the sale, disposition or other Transfer of any of the Leipzig Property.”
O.	Deferred Assets.
			a.	A new Section 7.1(a)(iii) is hereby added to the Purchase Agreement as follows:
				“In the event at any applicable Closing of a Purchased Interest with Underlying Properties located in the United States, a Purchased Entity owns an Excluded Asset and one or more other Underlying Properties, then, in such case, the applicable Purchased Interest shall be deemed a Deferred Asset until the earlier of (1) such time as the Purchased Entity no longer owns the Excluded Asset, or (2) the Seller Parties and the Purchaser Parties have agreed to an alternative manner of Transferring the Purchased Interests or Underlying Properties that are not Excluded Assets to the applicable Purchaser Parties (subject to any required consent of the Operating Partner) (the “Alternative Purchased Interest Structure”).”
			b.	A new Section 7.1(b)(iii) is hereby added to the Purchase Agreement as follows:
				“With respect to any Purchased Entity that owns Underlying Property located in the United States, in the event an Alternative Purchased Interest Structure is agreed to prior to the Closing Notice Date or the Seller Parties have notified the Purchaser Parties in writing on the Closing Notice Date that a Purchased Interest in a Purchased Entity can be Transferred and such Purchased Entity does not own any Excluded Assets, the applicable Deferral Condition shall be deemed satisfied. In the event the applicable Excluded Assets have not been Transferred from the applicable Purchased Entity on or prior to the Closing Notice Date or an Alternative Purchased Interest Structure has not been agreed to, but the applicable Excluded Assets have been transferred from the applicable Purchased Entity prior to the Closing Date to which the Closing Notice Date relates or an Alternative Purchased Interest Structure has been agreed to, the Purchaser Parties shall have the option to, but will not be required to, close the Transfer of the applicable Purchased Interest on such Closing Date. If the Purchaser Parties do not elect to close the Transfer on such Closing Date, subject to the terms and conditions of this Agreement, the Closing with respect to such Purchased Interest shall be deferred until the next occurring Deferred Closing Date. With respect to any such deferred Purchased Interest with respect to which an Operating Partner has executed a consent, the Buy-Sell Discussion Period shall be delayed and in the event a Closing with respect to such Purchased Interest has not occurred or an Alternative Purchased Interest Structure is not agreed to on or before October 31, 2015 (except to the extent that the applicable Operating Partner is in breach or default of its obligations under the applicable consent related to the Transactions, in which case, the applicable date shall be the date of such breach or default), the Buy-Sell Discussion Period shall begin on October 31, 2015 and the provisions of Section 7.1(c) shall be applicable (except to the extent that the applicable Operating Partner is in breach or default of its obligations under the applicable consent related to the Transactions, in which case, the applicable date shall be the date of such breach or default).”

d.	Section 2.3(f)(i) of the Purchase Agreement shall be amended and restated as follows:
	“Upon receipt of the notice described in Section 2.3(c), the Seller Parties shall have the right, by the date that is ten (10) Business Days after receipt of notice of such Title Objection (or no later than five (5) Business Days prior to the applicable Closing Date, unless the applicable notice of such Title Objection is provided within five (5) Business Days of the applicable Closing Date) or such other date as expressly provided herein, by written notice to the Purchaser Parties with respect to each Property affected by any such Material Title Exceptions, to elect to cure such Material Title Exception in accordance with Section 2.3(h). If the Seller Parties (x) do not elect to cure any Material Title Exception, or (y) in the event the Seller Parties have elected to cure any Material Title Exception and fail to cure in accordance with Section 2.3(h) by the applicable Closing Date, the Purchaser Parties shall have the election to either (A) terminate this Agreement with respect to such Purchased Commercial Loan, Transferred Property, Purchased Entity (if such Purchased Entity owns Underlying Property located outside of the United States) or Underlying Property (if such Underlying Property is located in the United States), in which case such Purchased Commercial Loan, Transferred Property, Purchased Entity or Underlying Property shall be deemed an Excluded Asset, or (B) proceed to Closing with respect to the affected Transferred Property, Purchased Commercial Loan or Purchased Interest; provided, however, that, in the event that the Seller Parties have elected to cure any such Material Title Exception, then the Purchaser Parties shall not be entitled to terminate this Agreement with respect the applicable Purchased Commercial Loan, Transferred Property or Purchased Interests for so long as the Seller Parties shall be using their Commercially Reasonable Efforts to cure such Material Title Exception or any Debt Removal Exception.”
e.	Section 1.1(d) of the Purchase Agreement is hereby amended by adding the words “Underlying Property,” after the words “Transferred Property,” in the first line thereof.

P.	Specific Venture Buy-Sells. The Seller Parties and the Purchaser Parties agree as follows:
		a.	for the Purchased Interests listed on Schedule 1 of the Purchase Agreement with respect to the Purchased Entities known as “CCS FUNDING, LLC”, the reference to “May 31, 2015” in Section 7.2(c)(i) of the Purchase Agreement shall be changed to “June 30, 2015 (except to the extent that an agreement (the “CCS Funding Transfer Agreement”) with respect to the sale or Transfer of the interests in the CCS Funding, LLC joint venture to the Operating Partner thereof has been executed on or prior to June 30, 2015, in which case, the applicable Buy-Sell Discussion Period shall commence on the earlier of (i) August 31, 2015, and (ii) the date that is fifteen (15) days following the termination or expiration of the CCS Funding Transfer Agreement).” For the avoidance of doubt, and notwithstanding anything to the contrary contained in the Purchase Agreement, (x) the Purchaser Parties shall not have any obligation to acquire the Properties held by the CCS Funding, LLC joint venture or any Purchased Interest in such joint venture unless either (A) the Autumn Creek Property is included in such sale or (B) the Autumn Creek Property has been sold and any excess proceeds thereof delivered to the Purchaser Parties in accordance with the Sale Consent, (y) subject to clause (x), if the Seller Parties have the right to take control of the CCS Funding, LLC joint venture as of August 31, 2015, the Properties owned directly or indirectly by the CCS Funding, LLC (or otherwise distributed to the Seller Parties) shall be deemed Transferred Properties and the Seller Parties shall cause the Transfer such Transferred Properties to the Purchaser Parties on the next applicable Deferred Closing Date (or such later Deferred Closing Date on which all consents have been received for the Seller Parties to Transfer such Properties to the Purchaser Parties), and (z) if the Seller Parties do not have the right to take control of the CCS Funding, LLC and CCS Funding, LLC has either sold the Autumn Creek Property and delivered proceeds thereof to the Purchaser Parties pursuant to the consent executed by Seller Parties and Purchaser Parties as of the date hereof (the “Sale Consent”) or the Autumn Creek Property is still owned by the CCS Funding, LLC joint venture.
		b.	in the event the Seller Parties and the Purchaser Parties enter into a consent with the partner in JPI Lifestyle Apartment Communities, L.P. (the “JPI JV”) pursuant to the terms of which the Seller Parties and the partner in the JPI JV agree to Transfer the Underlying Properties in the JPI JV in fee, such Underlying Properties shall be considered Transferred Properties for all purposes under the Purchase Agreement, excluding the provisions of Article III and Section 5.1 thereof. In connection with the foregoing, if, the consent of the ground lessor with respect to the Underlying Property known as Jefferson at Inigo Crossing (the “Inigo Property”) is not obtained and pursuant to any consent signed with respect to the JPI JV, the JPI JV transfers to the Purchaser Parties the interests the JPI JV holds in the Equity Entity that holds a real estate interest in the Inigo Property, such Underlying Property shall remain an Underlying Property and the interests in the Equity Entity that holds a real estate interest in such Underlying Property shall be considered Purchased Interests for all purposes under this Agreement, excluding the provisions of Article III and Section 5.1 hereof.
		c.	the reference to “May 31, 2015” in Section 7.2(c)(i) of the Purchase Agreement shall be changed to “July 16, 2015”.

Q.	Italian SGR Closing. The following shall be added to the Purchase Agreement as new Section 7.4 of the Purchase Agreement immediately following Section 7.3 of the Purchase Agreement:
		“7.4 Italian SGR. The Parties acknowledge and agree that (a) the Purchaser Parties intend, pursuant to Section 12.9 hereof, to designate as a Purchaser Party Designee of those certain Properties listed as Rome – via Veneziani A B C D and Medici – Milan – via Cardano on Schedule 2 (collectively, the “Italian SGR Assets”) a newly formed real estate fund (the “New Fund”) that will be created and managed by an Italian regulated asset management company (società di gestione del risparimio) (the “SGR”),approved and duly enrolled with the register kept by the Bank of Italy, and (b) the New Fund will not be established and be fully operational before the Initial Equity Closing Date. The Seller Parties and the Purchaser Parties hereby agree that (i) the Purchaser Parties hereby waive (x) all rights to designate the Italian SGR Assets as “Designated Equity Assets” under this Agreement, (y) other than with respect to any Material Title Exception caused by the Seller Parties or their Affiliates after July 14, 2015, all rights and remedies under Section 2.4 with respect to the Italian SGR Assets, and (z)all rights and remedies related to the termination of the Agreement with respect to the Italian SGR Assets under Section 2.3 as a result of any Material Title Exception; (ii) the Purchaser Parties hereby waive as of the Initial Equity Closing Date each of the conditions under Section 9.4(a) with respect to the Italian SGR Assets and in no event shall the Purchaser Parties be entitled to delay the Deferred Closing on the Italian SGR Assets as a result of the failure of such condition to be satisfied; (iii) as of the Initial Equity Closing Date, the Italian SGR Assets shall constitute Deferred Assets for purposes of this Agreement; and (iv) as of each Deferred Closing Date occurring after the Initial Equity Closing Date, the Italian SGR Assets shall continue to constitute Deferred Assets unless the Purchaser Parties shall have previously provided notice to the Seller Parties that the New Fund has been established and is fully operational, provided, however, that, notwithstanding anything to the contrary in this Agreement, the Deferred Closing with respect to the Italian SGR Assets shall occur no later than September 30, 2015 (regardless of whether the New Fund and SGR have been established and has become fully operational and regardless of whether a Deferred Closing is otherwise scheduled for September 30, 2015), which date may be extended to October 31, 2015 in the Seller Parties’ sole discretion.”
R.	Italian Retail Closing. The following shall be added to the Purchase Agreement as new Section 7.4 of the Purchase Agreement immediately following Section 7.3 of the Purchase Agreement:
		“7.5 Italian Retail. The Seller Parties have requested that, in lieu of the Purchaser Parties purchasing the Purchased Interests described as Gran Commercio Srl on Schedule 1 of the Purchase Agreement, the Purchaser Parties instead acquire the Interests in GE Real Estate Italia Retail S.r.l (“GE Italia” and the Interests therein, the “GE Italia Interests”) on August 5, 2015 (the “Italian Retail Closing Date”). The Seller Parties shall provide all Diligence Materials in respect of GE Italia as reasonably requested by the Purchaser Parties, and the Purchaser Parties shall perform due diligence on GE Italia. If such diligence is completed to the satisfaction of the Purchaser Parties (in their sole and absolute discretion) prior to the Italian Closing Date, then the Parties agree that the Purchaser Parties shall acquire the GE Italia Interests on the Italian Closing Date and the Parties shall enter into any agreements (including any side letters or amendments to the Purchase Agreement) required to memorialize such purchase. If such diligence is not complete to the satisfaction of the Purchaser Parties by the Italian Closing Date, then either (a) the Parties shall defer the Italian Closing Date to a date mutually agreed upon by the parties or (b) the Purchaser shall purchase the Purchased Interests described as Gran Commercio Srl, as originally contemplated in the Purchase Agreement, on the Italian Closing Date.
S.	Initial Debt Closing Date. Section 9.1(a) and Section 9.1(b) of the Purchase Agreement shall be amended and restated in their entirety as follows:
		“(a) The Initial Debt Closing Date occurred on May 20, 2015. (b) The Initial Equity Closing shall occur on July 15, 2015 (the “Initial Equity Closing Date”). For purposes of this Agreement the “Applicable Initial Closing Date” shall mean the Initial Equity Closing Date or the Initial Debt Closing Date as the context requires.”

T.	Certain Governmental and Regulatory Approvals.
		a.	The following shall be added to the Purchase Agreement as a new sentence at the end of Section 9.2(a)(ii) of the Purchase Agreement:
			“For the avoidance of doubt, it shall be a condition to each Party’s obligation to effect the Transaction in respect of the Property listed as Silver Forum; ul. Strzegomska 2-4, Wroclaw, Poland on Schedule 2 (the “Polish Property”) that either (x) a tax ruling by the applicable Polish tax authorities shall have been issued to each of the Purchaser Parties and the Seller Parties (the “Polish Tax Rulings”), or (y) the applicable waiting period under the applicable Polish tax regulations (plus five (5) extra Business Days) shall have expired.”
		b.	For purposes of this Section, a “Negative Ruling” means a Polish Tax Ruling which does not acknowledge the interpretation of the sale presented in a Party’s application submitted to the Polish tax authorities prior to the date hereof. In the event that one (but not both) of the Polish Tax Rulings is a Negative Ruling, the Parties acknowledge and agree that in such case (1) the Seller Parties shall issue a VAT invoice to the Purchaser Parties and the Purchaser Parties shall pay such amount to the Seller Parties and the Seller Parties shall pay such amount to the applicable Polish tax authorities and (2) the Purchaser Parties shall also pay an amount equal to the transfer tax due pursuant to the Negative Ruling to the applicable Polish tax authorities. The Seller Parties shall pay an amount equal to the amount of such transfer tax to the Purchaser Parties as per the relevant Closing Statement in respect of the Polish Property pursuant to which the net proceeds receivable by the Seller Parties shall be the Unadjusted Purchase Price less such transfer tax.
		c.	In the event that either or both of the Polish Tax Rulings is a Negative Ruling, the Parties agree to use commercially reasonable efforts to (i) appeal (and to cooperate with each other to appeal) any Negative Ruling, (ii) cooperate with each other to obtain refunds of any Taxes found to not have been due and payable following any such appeal (whether such Taxes constitute transfer taxes or VAT).
		d.	(i) If at any time the Seller Parties receive a refund of VAT paid on the transaction, the Seller Parties agree to pay such amount to the Purchaser Parties, and (ii) if at any time the Purchaser Parties receive a refund of transfer taxes paid on the transaction, the Purchaser Parties agree to pay such amount to the Seller Parties, provided that in respect of either (i) or (ii) above, the Parties agree to consult with one another regarding the most efficient method to make such payments. Further, the Purchaser Parties shall not be liable to pay VAT to the extent the Transfer of the Polish Property is found as a result of both of the final Polish Tax Rulings or appeals to be subject to Transfer Tax unless such VAT has already been paid to the tax authorities and a refund is not successfully obtained after each party using commercially reasonable efforts.
U.	Certain Deferred Closing Dates with respect to Purchased Commercial Loans. Pursuant to Section 9.5(b) of the Purchase Agreement, the Seller Representative (on behalf of the Seller Parties) and the Purchaser Representative (on behalf of the Purchaser Parties) mutually acknowledge and agree that (in addition to any other Deferred Closing) a Deferred Closing with respect to Purchased Commercial Loans occurred on each of the following dates: May 28, 2015, June 4, 2015, June 11, 2015, June 23, 2015, June 30, 2015 and July 9, 2015.

V.	Outside Debt Date. Clause (x) of  Section 10.4(c) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“(x) with respect to any Purchased Commercial Loan, the applicable Deferred Closing shall not have occurred on or prior to the Outside Debt Date (or, in the case of any Purchased Commercial Loans in France, the date that is the later of (A) thirty (30) days following the conclusion of the consultations with the Works Councils or Employee Representative Bodies in France, and (B) thirty (30) days following the receipt of all applicable approvals under Antitrust Laws (but, in no event, later than March 31, 2016));”
W.	Outside Equity Asset Date. Clause (y) of Section 10.4(c) of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“(y) with respect to any Equity Asset, the applicable Deferred Closing shall not have occurred on or prior to the Outside Equity Date (or (1) in the case of Equity Assets in France, the date that is the later of (A) thirty (30) days following the conclusion of the consultations with the Works Councils or Employee Representative Bodies in France, (B) thirty (30) days following the receipt of all applicable approvals under Antitrust Laws, and (C) thirty (30) days following the receipt or waiver of any applicable Pre-Emptive Rights with respect to the applicable Equity Assets (but, in no event, later than March 31, 2016), or (2) in the case of any Equity Assets that are Purchased Interests with respect to which the Buy-Sell Discussion Period commences on or after July 16, 2015, the later of (i) February 15, 2016, and (ii) the earlier of (a) the date on which the applicable Purchased Interest is transferred to the Operating Partner, or (b) if a Seller Party takes ownership of the applicable Underlying Properties and such Underlying Properties become Transferred Properties, the date on which all consents have been received for the Seller Parties to Transfer such Properties to the Purchaser Parties).”
X.	Section 11.3. Section 11.3 of the Purchase Agreement shall be amended to add the following as new Section 11.3(g):
		“(g) Post-Closing Taxes.”
Y.	Section 11.4. Section 11.4 of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“The Parties agree that any indemnification payments made with respect to this Agreement shall be treated for all Tax purposes as an adjustment to the Unadjusted Purchase Price, unless otherwise required by Laws (including by a determination of a Tax Authority that, under applicable Laws, is not subject to further review or appeal). The Parties agree to use their respective Commercially Reasonable Efforts to ensure that any such payments are made between the Seller Party actually selling the relevant Purchased Interest, Transferred Property or Purchased Commercial Loan and the Purchaser Party actually purchasing such relevant Purchased Interest, Transferred Property or Purchased Commercial Loan.”

Z.	Section 12.9. Section 12.9 of the Purchase Agreement shall be amended and restated in its entirety as follows:
			“This Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective permitted successors and permitted assigns. Neither this Agreement, nor any of the rights, interests or obligations under this Agreement, may be assigned or delegated, in whole or in part, by operation of law or otherwise by any of the Parties without the prior written consent of the other Parties. Any attempted or purported assignment in violation of this Section 12.9 shall be null and void and of no force or effect. Notwithstanding the foregoing, (a) the Seller Parties shall have the right to assign or delegate, in whole or in part, by operation of law or otherwise, any of its rights, interests or obligations under this Agreement to any Affiliate of the Seller Parties, provided that no such assignment or delegation shall release any Seller Party from its obligations hereunder; (b) the Purchaser Parties shall have the right to designate one or more Purchaser Party Designees as an assignee or delegatee of any of its rights, interests or obligations under this Agreement on or at any time following the date hereof, and such Purchaser Party Designees shall purchase, acquire and take title to any or all of the Purchased Interests, Transferred Properties or Purchased Commercial Loans by notice to the Seller Parties given at least ten (10) Business Days prior to the Closing, provided that there is no increase in the costs borne by the Seller Parties under Section 12.13 (unless paid by the Purchaser Parties); and providedfurther that no such assignment or delegation shall release any Purchaser Party from its obligations hereunder; and (c) the Purchaser Parties shall have the right to collaterally assign their rights in this Agreement to any lender.”
AA.		Exhibit A.
				a.	Exhibit A to the Purchase Agreement shall be amended to add the following definitions to Exhibit A of the Purchase Agreement in alphabetical order:
					““Post-Closing Taxes” means any and all liability for income Taxes (including, for the avoidance of doubt, penalties and interest imposed in connection with such Taxes) of Soldeva Grupo DE Inversiones 2006 SL (including secondary liability for such Taxes imposed on GE Real Estate Iberia S.A.) for any period beginning after the applicable Closing Date and the portion of any Straddle Tax Period beginning on the Closing Date (except to the extent such Taxes are accounted or adjusted for in a proration, calculation or other adjustment under Section 1.4) to the extent such liability for such Taxes relates to or arises as a result of the denial by applicable Tax Authorities of Tax deductions for interest expenses incurred in connection with the Revolving Credit Agreement dated July 13, 2015 by and between SOLDEVA GRUPO DE INVERSIONES 2006, S.L., as borrower, and GE REAL ESTATE IBERIA, S.A., as lender, or in connection with any future loan or credit agreement to be granted to SOLDEVA GRUPO DE INVERSIONES 2006, S.L. that refinances such Revolving Credit Agreement.”
				b.	The definition of “Excluded Liabilities” set forth on Exhibit A to the Purchase Agreement is hereby amended to add the following as clauses (f) and (g) of such definition:
					“(f) relating to any Action alleging that any necessary corporate approvals required to Transfer certain Properties directly or indirectly owned by General Electric Real Estate Iberia, S.A. to the applicable Purchaser Parties were not properly obtained.
					(g) relating to the Soldeva Proceeding.”

BB.	Schedule 3.8(a). Schedule 3.8(a) to the Purchase Agreement shall be amended and restated in its entirety as set forth on Schedule A attached hereto.
CC.	Confidentiality Agreement. The date of the Confidentiality Agreement described in Section 5.4(a) of the Purchase Agreement shall be amended to correctly reflect that the date of such Confidentiality Agreement is “March 11, 2015”.
DD.	Designation of Purchased Commercial Loans. In accordance with Section 12.9of the Purchase Agreement (and subject to the terms and conditions thereof), the Purchaser Parties hereby designate (i) the one or more direct or indirect subsidiaries of Blackstone Mortgage Trust Inc. as set forth on Schedule Dto acquire the Purchased Commercial Loans set forth on Schedule D, and (ii) one or more direct or indirect subsidiaries of the fund commonly known as Blackstone Real Estate Debt Strategies (or an alternative investment vehicle thereof) to acquire the Purchased Commercial Loans set forth on Schedule E(the “BREDs Loans”). The Purchaser Parties shall provide the Seller Parties with the names of the entity that will acquire each BREDs Loan at least three (3) Business Days prior to the applicable Closing.
EE.	Designation of Kimco. In accordance with Section 12.9 of the Purchase Agreement (and subject to the terms and conditions thereof), the Purchaser Parties hereby designate Strategic Partners Real Estate VI Investments, L.P. (Series A) or one or more direct or indirect subsidiaries thereof to acquire the Kimco Interest.
FF.	Insurance Cooperation. From the date hereof until, with respect to any Purchased Commercial Loan in the United States, the date that is sixty (60) days following the Closing of such Purchased Commercial Loan (but in no event later than August 31, 2015) (such period, the “Insurance Cooperation Period”), the Seller Parties hereby agree (solely to the extent the Seller Parties have the ability to take such action under the applicable insurance policy and have personnel available to assist with such matter) to reasonably cooperate with the Purchaser Parties during the applicable Insurance Cooperation Period with respect to any insurance matters requested by the Purchaser Parties to be taken (including delivery of all notices received by the Seller Parties from an insurance carrier and cooperation is making and settlement of claims) in connection with such Purchased Commercial Loan in the United States. The obligations of the Seller Parties in this Paragraph FF shall survive the Closing until the expiration of the Insurance Cooperation Period.
GG.	Determination of GECC Composite Commercial Paper Rate. Following the Closing of the Purchased Commercial Loan commonly known as “Carlyle MHP Portfolio”, for so long as such Purchased Commercial Loan provides for the calculation of interest based on the “GECC Composite Commercial Paper Rate” and such rate is available, the Seller Parties hereby agree that within (five) 5 Business Days of the applicable Closing and by the 5th day of each calendar month thereafter until the maturity date of such Purchased Commercial Loan to provide the Purchaser Parties the information necessary to complete such calculation. The obligations of the Seller Parties in this Paragraph GG shall survive the Closing.
HH.	6060 Office Building Extension Fee. The Seller Parties and the Purchaser Parties acknowledge and agree that in connection with the Closing of the Purchased Commercial Loan commonly known as “6060 Office Building” (the “6060 Loan”) the Purchaser Parties received a credit equal to (i) $124,704.12, representing twenty-five percent (25%) of the exit fee that the Obligor under the 6060 Loan paid to the applicable Seller Party in connection with the extension/modification of the 6060 Loan and (ii) $41,864.27, representing the extension fee previously paid to the applicable Seller Party by the Obligor under the 6060 Loan.

II.	Certain Cooperation. From and after the applicable Closing Date until December 31, 2015, but only for so long as the Purchaser Parties have an interest in and the ability to Control such Equity Asset or Purchased Entity, with respect to any Equity Asset or Purchased Commercial Loan (which in the case of the Purchased Commercial Loans shall be limited to legal fees and other third-party borrower-reimbursable costs incurred by the Seller Parties prior to the Closing of the applicable Purchased Commercial Loan), the Purchaser Parties shall (a) reasonably cooperate with the Seller Parties to invoice and accept payments from the applicable third party in connection with such invoice (without any obligation to engage a collection agency, send any demand notice (it being agreed that an invoice shall not constitute a demand notice), sue any third party, exercise any legal remedies under any applicable Contract or incur any expenses (other than de minimis expenses) over and above the expense of invoicing) any amounts payable by an Obligor or other third party to the Seller Parties or any Equity Entity for periods prior to the applicable Closing Date with respect to the Transferred Equity Asset or Purchased Commercial Loan, and (b) to the extent that any such amounts are received by any Purchaser Party or Affiliate thereof and the Seller Parties are entitled to such amounts under the Agreement, to promptly pay such amounts to the applicable Seller Party.
JJ.	Cooperation Regarding Certain Guarantees. For a period of six (6) months after the applicable Closing Date with respect to the Transfer of the GERED Interests to the applicable Purchaser Party, the Purchaser Parties shall continue to cooperate with the Seller Parties, and use their commercially reasonable efforts, to cause the beneficiary of that certain guarantee dated 23 December 2013 (the “Fetter Lane Guarantee”) of GE Capital Corporation (Investment Properties) Limited (the “Fetter Lane Guarantor”) as guarantor in favour of Macfarlanes LLP as beneficiary in relation to the obligations of GERED under an agreement for lease relating to the lower ground, upper ground and first to fourth floors (inclusive), 98 Fetter Lane, London EC4 to release, novate or otherwise discharge in writing GE Capital Corporation (Investment Properties) Limited from all of its obligations under such Fetter Lane Guarantee (the “Fetter Lane Release”) first arising or accruing from and after the Closing Date. Such cooperation shall include, without limitation, the execution by the applicable Purchaser Party or Affiliate thereof (the “Replacement Guarantor”) of a replacement guarantee on the same terms as the existing Fetter Lane Guarantee, it being acknowledged and agreed that any such Replacement Guarantor shall be Kensington UK Holdco Sarl or, at the option of the Purchaser Parties, an entity which has equivalent financial substance to Kensington UK Holdco Sarl and the identity of which shall have been approved by Macfarlanes LLP. In addition, within three (3) Business Days of the Closing on the Fetter Lane Property (or Purchased Interests relating thereto) (the “Fetter Lane Closing?), Kensington UK Holdco Sarl (the “Fetter Lane Indemnitor”) and the Fetter Lane Guarantor shall enter into a side letter pursuant to which the Fetter Lane Indemnitor shall indemnify the Fetter Lane Guarantor in respect of all Liabilities first arising or accruing under the Fetter Lane Guarantee after the Fetter Lane Closing, which indemnification obligation shall automatically terminate upon the occurrence of the Fetter Lane Release.
KK.	Seller Parties’ Cooperation. The following shall be added to the Purchase Agreement in Section 2.3(d) of the Purchase Agreement as an additional sentence at the end of Section 2.3(d) of the Purchase Agreement:
		“Notwithstanding the foregoing or anything to the contrary contained in this Agreement, in no event shall any Seller Party be required to provide to the Title Company or any Purchaser Party any title affidavit, certification or indemnity in connection with any “non-imputation” endorsement or otherwise with respect to any Property that is Transferred to any of the Purchaser Parties or any Affiliates thereof by any Joint Venture or any Subsidiary thereof and for which a consent was executed by the applicable JV partner.”

LL.	Notices. The notice information for the Purchaser Parties set forth in Section 12.4 of the Purchase Agreement is hereby amended and restated in its entirety as follows:
		“if to the Purchaser Parties to: c/o The Blackstone Group 345 Park Avenue, 42nd Floor New York, New York 10154 Attention: William Stein and Judy Turchin Facsimile: 212-583-5202 with a copy (which shall not constitute notice) to: Simpson Thacher & Bartlett LLP 425 Lexington Avenue New York, New York 10154 Attention: Krista Miniutti Facsimile: 212-455-2502”
MM.	Schedule A-3(a). Schedule A-3(a) to the Purchase Agreement shall be amended and restated in its entirety as set forth on Schedule G attached hereto.
NN.	Certain Equity Assets. Schedule 1to the Purchase Agreement shall be amended such that the Unadjusted Asset Purchase Price Amounts for each of the Equity Assets described on Schedule H-1attached hereto shall be replaced with the Unadjusted Asset Purchase Price Amount set forth opposite the name of each such Equity Asset on Schedule H-1 attached hereto. Schedule 2 to the Purchase Agreement shall be amended such that the Unadjusted Asset Purchase Price Amounts for each of the Equity Assets described on Schedule H-2attached hereto shall be replaced with the Unadjusted Asset Purchase Price Amount set forth opposite the name of each such Equity Asset on Schedule H-2 attached hereto.
OO.	Free Rent Credit. The Seller Parties and the Purchaser Parties hereby agree that notwithstanding anything to the contrary in the Purchase Agreement (including, without limitation, Section 1.4(h)(i) of the Purchase Agreement), (i) the credit the Purchaser Parties shall receive for free rent obligations with respect to all Equity Assets other than the Option Assets shall be $20,000,000, which amount (x) shall be credited to the Purchaser Parties at the Initial Equity Closing against the amounts otherwise payable by the Purchaser Parties to the Seller Parties and (y) shall be allocated $17,500,000 to one or more Equity Assets situated in the United States and $2,500,000 (or the equivalent amount in local currency) to one or more Equity Assets situated in Europe and (ii) the credit the Purchaser Parties shall receive for free rent obligations with respect to each Option Asset shall be two-thirds of the free rent obligations that would otherwise be credited to the Purchaser Parties pursuant to the Purchase Agreement, which amount shall be credited to the Purchaser Parties at the Closing of the applicable Option Asset. Except for the adjustments described in clause (i) and clause (ii) of this Paragraph OO, there shall be no further credits or adjustments of any kind at any time with respect to free rent obligations pursuant to Section 1.4(h)(i) of the Purchase Agreement or otherwise with respect to any Equity Assets (other than Option Assets pursuant to clause (ii)) and the applicable free rent credit for all Equity Assets (other than Option Assets) shall not be subject to true-up, arbitration or dispute of any kind.

PP.	Exhibit B. Exhibit B to the Purchase Agreement shall be supplemented by adding the “Supplement to Exhibit B-Employment Matters” attached hereto as Schedule I (the “Supplement”). For the avoidance of doubt, the Supplement is entered into by the Seller Parties and their respective Affiliates and Wells Fargo Bank NA and/or any of its Affiliates, as a Purchaser Party Designee under the Purchase Agreement (“Wells Fargo”) only and all other Purchaser Parties (and their respective Affiliates) are not party to this Supplement. Notwithstanding anything contained in the Supplement to the contrary, the rights and obligations of the Purchaser Parties (other than Wells Fargo) pursuant to the Purchase Agreement (including Exhibit B thereto) shall not be affected by the terms of this Supplement.
QQ.	Schedule 5.5(b). Section 9 of the subsection of Schedule 5.5 (b) of the Purchase Agreement entitled “UK Tax Matters” shall be amended and restated as follows:
		“9. The Parties agree and acknowledge that the Equity Entity (and the other entities, in the event that they become Equity Entities as the result of an Alternative Transaction in accordance with Section 1.5 of the Agreement) listed in paragraph 12 below shall notify the Initial Equity Closing Date as its accounting reference date and thus bring to an end the period of account for UK corporation tax purposes then current as at such date; such periods of account shall accordingly be Pre-Closing Tax Periods for the purposes of Section 5.6(c) of the Agreement and there shall be no Straddle Tax Periods for such Equity Entity (or other entities, if applicable). The Seller Parties shall within 60 days of the Closing Date prepare the accounts of such Equity Entity (and other entities, if applicable) for the period ending on that date and the Purchaser Parties shall procure that the relevant Equity Entity shall instruct KPMG LLP of 15 Canada Square, London (the “Auditors”) to undertake an audit in respect of such accounts. The Parties shall liaise with the Auditors with the intention that the said accounts be signed by the Auditors and on behalf of the relevant Equity Entity (and other entities, if applicable) within 90 days of the Closing Date.”
RR.	Certain Purchaser Party Designees. Notwithstanding anything to the contrary contained in the Purchase Agreement (including Section 12.15 thereof), (i) the obligations of the Purchaser Parties set forth on Schedule F attached hereto (the “Core SPEs”) under the Purchase Agreement shall be several and only relate to the Equity Assets acquired by each such Core SPE, and (ii) the Core SPEs shall have no obligation or liability under the Purchase Agreement with respect to the Termination Fee, including pursuant to Section 10.3 and Section 10.5(a) thereof.
SS.	Certain Amounts in Spain. The Parties acknowledge and agree that, with respect to certain Equity Assets situated in Spain, a credit in the amount of €2,138,889.29 or the actually credited amounts with respect to cash deposits (the “Security Deposit Credit”) related to certain tenant security deposits (and which tenant security deposits either shall be transferred to the applicable Purchaser Party or are retained for the benefit of the applicable landlord and tenant with the applicable Governmental Entities) was erroneously deducted by the Purchaser Parties in the applicable Initial Closing Statements at the Initial Equity Closing. To correct such error, the Purchaser Parties hereby agree that, within ten (10) Business Days following the Initial Equity Closing, the Purchaser Parties shall pay to the applicable Seller Parties in Spain an amount equal to the Security Deposit Credit and the Parties hereby agree that the Security Deposit Credit shall be subject to the provisions of Section 1.4(i) of the Purchase Agreement.
TT.	Effect. From and after the date of this Letter Agreement, each reference in the Purchase Agreement to “this Agreement” shall mean the Purchase Agreement, as amended pursuant to this Letter Agreement. In the event of any inconsistencies between this Letter Agreement and the Purchase Agreement, the terms of this Letter Agreement shall govern.

UU.	Governing Law. This Letter Agreement will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
VV.	Counterparts. This Letter Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Letter Agreement may be executed by facsimile signature or in portable document format (PDF).
WW.	Entire Agreement. Except as specifically amended by this Letter Agreement, the Purchase Agreement remains in full force and effect and is hereby ratified and confirmed by the Parties. The Purchase Agreement (including all exhibit and schedules thereto), as amended by this Letter Amendment, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified by the provisions of Section 12.1 of the Purchase Agreement.

[The remainder of this page is intentionally left blank.]

Please confirm your agreement and consent with the foregoing by signing and returning one copy of this Letter Agreement to the undersigned, whereupon this Letter Agreement shall become a binding agreement among the Parties.

Sincerely.
GENERAL ELECTRIC CAPITAL CORPORATION
	By:
	Name:	Douglas A. Ewing
	Title:	Authorized Signatory

Agreed to, acknowledged and accepted as of the date
first written above:

PURCHASER REPRESENTATIVE

BRE IMAGINATION HOLDCO LLC,
a Delaware limited liability company

By:
Name:	Tyler Henritze
Title:	Senior Managing Director and Vice President

cc: Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, New York 10154
Attention: Krista Miniutti

[PSA Letter Agreement]

SCHEDULES TO LETTER AGREEMENT

Signing Portfolio Tape
Additional Purchased Entity Information
SOFOM Loans
Non-SOFOM MX Loans
BXMT Loans
BREDs Loans
Core Entities
Loan Portfolio Percentage Premiums
Equity Assets/Unadjusted Asset Purchase Price Amount
Employment Matters Supplement
Transferring Employees
Redundant Employees

General Electric Capital Corporation undertakes to furnish supplementally to the Securities and Exchange Commission a copy of any of these schedules upon request.

General Electric Capital Corporation
901 Main Avenue
Norwalk, Connecticut 06851

	July 15, 2015
BRE Imagination Holdco LLC
c/o The Blackstone Group
345 Park Avenue, 42nd Floor
New York, New York 10154
Attention: William Stein and Judy Turchin

Re: Consent Matters

Ladies and Gentlemen:

Reference is hereby made to that certain Purchase and Sale Agreement, dated as of April 10, 2015 (the “Purchase Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany II LLC, a Delaware limited liability company (collectively, “Purchaser”), on the other hand. Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement.

1.	Consent Matters: Pursuant to the Purchase Agreement, certain actions of the Seller Parties and the Equity Entities described in the Purchase Agreement taken after the date of the Purchase Agreement and prior to the applicable Closing Date on which the applicable Purchased Interests, Transferred Properties or Purchased Commercial Loans are Transferred to the Purchaser Parties (or the earlier termination of the Purchase Agreement) require the consent of the Purchaser Representative (acting on behalf of the Purchaser Parties pursuant to Section 12.3(b) of the Purchase Agreement) prior to the taking of any such action (provided that any actions taken by any of the Seller Parties prior to the date hereof with respect to any matter for which a consent is granted below shall be deemed to have been approved by the Purchaser Parties for all purposes). Pursuant to and in accordance with the terms of the Purchase Agreement, the Purchaser Representative hereby consents to and approves the following actions (and the approval and consent by the GE Partner of any major decisions with respect thereto):
		a.	Sale of Sunset Plaza: With respect to the Property listed as “Sunset Plaza (Kor)” (the “Sunset Kor Property”) on Schedule 1, the GE Partner in KOR/BAM Sunset Plaza Holding Company, LLC (the “Sunset Kor JV”) shall be entitled to consent to the sale, disposition or other Transfer by the Sunset Kor JV or its applicable Subsidiary of the Sunset Kor Property for a purchase price equal to or greater than $27,435,000 (the “Sunset Purchase Price”) and shall be entitled to take all actions (including causing the execution of a purchase contract subject to the reasonable approval of the Purchaser Parties) to cause such sale, disposition or other Transfer to occur. In connection with such consent and approval, each of the Purchaser Representative (on behalf of the Purchaser Parties) and the Seller Representative (on behalf of the Seller Parties) make the following additional acknowledgements and agreements:

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i.	If the Sunset Kor Property is sold in accordance with this Section, (x) the Purchased Interests in the Sunset Kor JV shall be deemed an Excluded Asset and (y) within thirty (30) days following any distribution or payment to the GE Partner in the Sunset Kor JV or any Affiliate thereof with respect to proceeds from the sale of the Sunset Kor Property, the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to the positive difference, if any, between (A) the net cash proceeds actually distributed or paid (on an as-and-when-received basis) to the GE Partner or any Affiliate thereof solely with respect to the sale of the Sunset Kor Property, minus (B) the amount that would have been paid by the applicable Purchaser Party to the applicable Seller Party with respect to the Purchased Interests in the Sunset Kor JV in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement (including the Hypothetical Sale provisions set forth therein) if the Purchased Interests in such Purchased Entity had been Transferred to the Purchaser Parties in accordance with the terms of the Purchase Agreement (the resulting amount, the “Sunset Kor Proceeds Payment”); provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then the Seller Parties shall have the option (in their discretion) to instead make any payment of any Sunset Kor Proceeds Payment owing to the Purchaser Parties hereunder as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the applicable distribution or payment.
ii.	Notwithstanding the foregoing, the Seller Parties shall not sell, dispose of or Transfer (or consent to a sale, disposition or Transfer) of the Sunset Kor Property for less than the Sunset Purchase Price without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
iii.	In the event that the Sunset Kor Property is sold in accordance with the terms hereof prior to the applicable Closing, the Parties acknowledge and agree that proceeds from the sale, disposition or other Transfer of the Sunset Kor Property may be retained by the Sunset Kor JV, any Subsidiary thereof and/or a third party title company or escrow agent following the closing of the Transfer of such Property in order to satisfy post-closing indemnification obligations and other liabilities related to the sale of the Sunset Kor Property and to satisfy any liabilities associated with the wind-up and liquidation of the Sunset Kor JV and its Subsidiaries, in each case, other than with respect to the Seller Parties and their Affiliates; provided that if any such retained proceeds are subsequently distributed or paid to the GE Partner in the Sunset Kor JV or any Affiliate thereof, then such distributed proceeds shall be paid by such GE Partner or Affiliate to the applicable Purchaser Party within ten (10) days following such distribution in accordance with Section 1.a(i) above.

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b.	Rocky Point:
		i.	With respect to the building located at 1334 Rocky Point (the “Rocky Point Building”) that is a part of the Property listed as “Pacific Coast Business Park” on Schedule 1 of the Purchase Agreement (the “Pacific Coast Property”), the GE Partner in the applicable Purchased Entity shall be entitled to consent to the sale, disposition or other Transfer by such Purchased Entity or its applicable Subsidiary of the Rocky Point Building for a purchase price equal to or greater than $2,369,000 (the “Rocky Point Purchase Price”) and shall be entitled to take all actions to cause such sale, disposition or other Transfer to occur; provided, however, the Seller Parties shall not amend (and shall not consent to the amendment of) that certain Pacific Coast Business Park Purchase Agreement, dated March 24, 2015, by and between AMB DFS Pacific Coast, LLC and Belching Beaver Brewery, Inc. (the “Rocky Point Purchase Agreement”) or grant any waivers thereunder without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion. If the Rocky Point Building is sold or Transferred as described above prior to the applicable Closing with respect to the Pacific Coast Business Park Property, then the Unadjusted Purchase Price with respect to the Pacific Coast Property shall be reduced by the Rocky Point Purchase Price.
		ii.	Notwithstanding the foregoing, the Seller Parties shall not sell, dispose of or Transfer (or consent to a sale, disposition or Transfer of) the Rocky Point Building for less than the Rocky Point Purchase Price without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
c.	Leipzig: With respect to the Property listed as “Artemis - Leipzig (LEP)” on Schedule 3 of the Purchase Agreement (the “Leipzig Property”), the Purchaser Parties have consented to a sale of the Leipzig Property (the “Leipzig Sale”) for a purchase price equal to or greater than €1,578,000 (the “Leipzig Purchase Price”) pursuant to that certain Purchase Agreement, dated as of February 3, 2015, by and between 33. Opus Vermögensverwaltung GmbH (AG Leipzig, HRB 31067) and Grundstücksgesellschaft Elster Business Park mbH & Co. KG, Bad Homburg vdH, as amended by that certain letter agreement dated 27/29 May 2015 (the “Leipzig Purchase Agreement”). In the event that the Leipzig Property is sold prior to the Closing of the related Purchased Interests, the Leipzig Property shall be deemed an Excluded Asset. Notwithstanding the foregoing, the Seller Parties shall not amend the Leipzig Purchase Agreement or grant any waivers thereunder in any way materially adverse to the seller thereunder or to decrease the Leipzig Purchase Price to an amount less than €1,578,000 without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.

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d.	Autumn Creek: The GE Partner shall be entitled to consent to the sale, disposition or other Transfer by the Purchased Entity known as “CCS Funding, LLC” or its applicable Subsidiary of the Property known as “Autumn Creek” to a third party by CBRE for a purchase price equal to or greater than $30,000,000 (the “Autumn Creek Purchase Price”) and shall be entitled take all actions (including causing the execution of a purchase contract subject to the reasonable approval of the Purchaser Parties) to cause such sale, disposition or other Transfer to occur. In connection with such consent and approval, each of the Purchaser Representative (on behalf of the Purchaser Parties) and the Seller Representative (on behalf of the Seller Parties) make the following additional acknowledgements and agreements:
		i.	Within thirty (30) days following any distribution or payment to the GE Partner in CCS Funding, LLC or any Affiliate thereof with respect to proceeds from the sale, disposition or other Transfer of the Property known as “Autumn Creek” (the “Autumn Creek Property”), the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to the difference, if positive, between (A) the net cash proceeds actually distributed or paid (on an as-and-when-received basis) to the GE Partner or any Affiliate thereof solely with respect to the sale of the Autumn Creek Property (which for the avoidance of doubt shall include any proceeds paid on account of distributions or payments to the GE Partner or any Affiliate thereof pursuant to that certain Limited Liability Company Agreement of VGP Funding, LLC dated as of May 24, 2007, as amended (the “VGP LLC Agreement”), minus (B) the amount that would have been paid by the applicable Purchaser Party to the applicable Seller Party with respect to the Property known as Autumn Creek in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement (including the Hypothetical Sale provisions set forth therein) if the Purchased Interests in such Purchased Entity had been Transferred to the Purchaser Parties in accordance with the terms of the Purchase Agreement (the resulting amount, the “Autumn Creek Proceeds Payment”); provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then any Autumn Creek Proceeds Payment may instead be paid by the Seller Representative to the Purchaser Parties as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the applicable distribution or payment.
		ii.	Notwithstanding the foregoing, the Seller Parties shall not sell, dispose of or Transfer (or consent to a sale, disposition or Transfer) of the Autumn Creek Property for less than the Autumn Creek Purchase Price without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
e.	Sale of Interest in CCS Funding and VGP Funding, LLC JVs: Following the sale of the Autumn Creek Property to a third party and no later than August 31, 2015, the GE Partner shall be entitled to sell, dispose of or otherwise Transfer its interests in the Purchased Entity known as “CCS Funding, LLC” (which, at the time of the applicable Closing, will own the Properties known as “Enclave at Foothills”, “Peaks at Reddington” and “Union Hills”) and the entity known as “VGP Funding, LLC” to the third party joint venture partner in CCS Funding, LLC and VGP Funding, LLC for an aggregate purchase price equal to or greater than $1,100,000 and shall be entitled take all actions (including causing the execution of a purchase contract subject to the reasonable approval of the Purchaser Parties) in connection therewith. The closing of the sale of the applicable GE Partner’s interests in CCS Funding, LLC and VGP Funding, LLC must occur on or before August 31, 2015. The purchasing partner will provide a $220,000 (20%) non-refundable earnest money deposit to be applied as a credit at closing.

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f.

Execution of Amendment to CCS Funding, LLC JV Agreement: Simultaneously with or following the execution of the purchase agreements with respect to the matters described in Sections 1.d and 1.e above, the partners to the CCS Funding, LLC joint venture and the VGP Funding, LLC joint venture shall be entitled to enter into an amendment to each of the CCS Funding, LLC joint venture agreement and the VGP LLC Agreement as reasonably approved by the Purchaser Parties to provide that: (a) if Autumn Creek Property is not sold by August 31, 2015 (or such earlier date as agreed to by the partners to the CCS Funding, LLC joint venture in the applicable amendment), the CCS Funding, LLC joint venture will distribute to the GE Partner therein 100% of the interests in the Subsidiary that owns the Autumn Creek Property (and thereafter, the partners to the CCS Funding, LLC joint venture shall be entitled to consummate the transactions contemplated by Section 1.e above); and (b) if the third party partner to the CCS Funding, LLC joint venture and the VGP Funding, LLC joint venture does not complete the purchase of the GE Partner’s interest in the CCS Funding, LLC joint venture and the VGP Funding, LLC joint venture, then the GE Partner may unilaterally elect to take control of the CCS Funding, LLC joint venture and the VGP Funding, LLC joint venture. The GE Partner shall then have unilateral control over any sales (and the timing of any sales) of the assets of the CCS Funding, LLC joint venture and the non-GE Partner shall have no obligation to contribute future capital for operating shortfalls. In the event the GE Partner takes control of the Autumn Creek Property, then such Property shall become a Transferred Property in accordance with the provisions of the Purchase Agreement, as amended (provided that the Parties acknowledge and agree that, in the event that the Autumn Creek Property becomes a Transferred Property under the Purchase Agreement, then any loans encumbering such Property shall constitute an “Existing Loan” for all purposes of the Purchase Agreement and such Property shall be Transferred to the applicable Purchaser Party subject to such Existing Loan). In addition, in the event that the GE Partner takes control of the CCS Funding, LLC joint venture, then the Properties owned by such CCS Funding, LLC joint venture shall become Transferred Properties in accordance with the provisions of the Purchase Agreement, as amended (provided that the Parties acknowledge and agree that, in the event that the any such Property owned by the CCS Funding, LLC joint venture becomes a Transferred Property under the Purchase Agreement, then any loans encumbering such Property shall constitute an “Existing Loan” for all purposes of the Purchase Agreement and such Property shall be Transferred to the applicable Purchaser Party subject to such Existing Loan).

g.

Hampton at Hawthorne Woods. With respect to the Property listed as “Hampton at Hawthorne Woods (the “Hampton Woods Property”) on Schedule 1 of the Purchase Agreement, the GE Partner in JPI Lifestyle Apartment Communities, L.P. (the “JPI JV”) shall be entitled to consent to the sale, disposition or other Transfer by the JPI JV or its applicable Subsidiary of the Hampton Woods Property for a purchase price equal to or greater than $15,050,000 (the “Hampton Inn Purchase Price”) and shall be entitled to take all actions (including causing the execution of a purchase contract subject to the reasonable approval of the Purchaser Parties) to cause such sale, disposition or other Transfer to occur. In connection with such consent and approval, each of the Purchaser Representative (on behalf of the Purchaser Parties) and the Seller Representative (on behalf of the Seller Parties) make the following additional acknowledgements and agreements:

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i.	If the Hampton Woods Property is sold or Transferred as described above prior to the applicable Closing with respect to the JPI JV, then (x) the Hampton Woods Property shall be deemed an Excluded Asset, and (y) within thirty (30) days following any distribution or payment to the GE Partner in the JPI JV or any Affiliate thereof with respect to proceeds from the sale of the Hampton Woods Property, the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to the positive difference, if any, between (A) the net cash proceeds actually distributed or paid (on an as-and-when-received basis) to the GE Partner or any Affiliate thereof solely with respect to the sale of the Hampton Woods Property, minus (B) the amount that would have been paid by the applicable Purchaser Party to the applicable Seller Party with respect to the Purchased Interests in the JPI JV in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement (including the Hypothetical Sale provisions set forth therein) if the Purchased Interests in such Purchased Entity had been Transferred to the Purchaser Parties in accordance with the terms of the Purchase Agreement (the resulting amount, the “Hampton Woods Proceeds Payment”); provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then the Seller Parties shall have the option (in their discretion) to instead make any payment of any Hampton Woods Proceeds Payment owing to the Purchaser Parties hereunder as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the applicable distribution or payment.
ii.	Notwithstanding the foregoing, the Seller Parties shall not sell, dispose of or Transfer (or consent to a sale, disposition or Transfer of) the Hampton Woods Property for less than the Hampton Woods Purchase Price without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
iii.	In the event that the Hampton Woods Property is sold in accordance with the terms hereof prior to the applicable Closing, the Parties acknowledge and agree that proceeds from the sale, disposition or other Transfer of the Hampton Woods Property may be retained by the JPI JV, any Subsidiary thereof and/or a third party title company or escrow agent following the closing of the Transfer of such Property in order to satisfy post-closing indemnification obligations and other liabilities related to the sale of the Hampton Woods Property, in each case, other than with respect to the Seller Parties or their Affiliates; provided that if any such retained proceeds are subsequently distributed or paid to the GE Partner in the JPI JV or any Affiliate thereof, then such distributed proceeds shall be paid by such GE Partner or Affiliate to the applicable Purchaser Party within ten (10) days following such distribution in accordance with Section 1.g(i) above.

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h.	Property PSA Claims: With respect to the sale of the Sunset Kor Property, the Autumn Creek Property, the Hampton Woods Property, the Rocky Point Building, the Grissom Lane Property or the Avon Property, as applicable, so long as (A) with respect to the Sunset Kor Property, the Autumn Creek Property, the Hampton Woods Property, the Grissom Lane Property or the Avon Property, as applicable, (1) such asset has been deemed an Excluded Asset pursuant to the Purchase Agreement, and (2) the Purchaser Parties shall have received the Sunset Kor Proceeds Payment, the Autumn Creek Proceeds Payment, the Hampton Woods Proceeds Payment, the Grissom Lane Proceeds, or the Avon Proceeds, as applicable, or (B) with respect to the Rocky Point Building, such asset has been sold prior to the applicable Closing with respect to the Pacific Business Park Property, then:
		i.	After closing of the sale of the Sunset Kor Property, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to (x) a breach or inaccuracy of a representation or warranty or (y) indemnification obligations under the applicable purchase and sale agreement (collectively, “Property PSA Claims”), then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any costs, expenses or payments with respect to or on account of any Property PSA Claim relating to the Sunset Kor Property, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Sunset Kor Proceeds Payment. Any such payments shall be made by the earlier of (i) the date that such contribution is required under the applicable Venture Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).
		ii.	After closing of the sale of the Autumn Creek Property, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any costs, expenses or payments with respect to or on account of any Property PSA Claim relating to the Autumn Creek Property, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Autumn Creek Proceeds Payment. Any such payments shall be made by the earlier of (i) the date that such contribution is required under the applicable Venture Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).
		iii.	After closing of the sale of the Hampton Woods Property, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any Property PSA Claim relating to the Hampton Woods Property, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Hampton Woods Proceeds Payment. Any such payments shall be made by the earlier of (i) the date that such contribution is required under the applicable Venture Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).

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iv.	After closing of the sale of the Grissom Lane Property, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any Property PSA Claim relating to the Grissom Lane Property, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Grissom Lane Proceeds. Any such payments shall be made by the earlier of (i) the date that such payment is required under the Grissom Lane Purchase Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).
v.	After closing of the sale of the Avon Property, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any Property PSA Claim relating to the Avon Property, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Avon Proceeds. Any such payments shall be made by the earlier of (i) the date that such payment is required under the Avon Purchase Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).
vi.	After closing of the sale of the Rocky Point Building, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any Property PSA Claim relating to the Rocky Point Building, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Rocky Point Purchase Price. Any such payments shall be made by the earlier of (i) the date that such payment is required under the Rocky Point Purchase Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable (except that, to the extent that, at any time that such payment would be payable, all applicable Equity Closings under the Purchase Agreement with respect to the Transfer of Purchased Interests on Schedule 1 to the Purchase Agreement for Properties located in the United States have not yet been consummated, then the applicable payable amounts shall instead be credited to the Seller Parties at the next succeeding Equity Closing). The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).

i.	Grissom Lane.
		i.	With respect to the Property listed as “3718 Grissom Lane” on Schedule 2 of the Purchase Agreement (the “Grissom Lane Property”), the Purchaser Parties have consented to a sale of the Grissom Lane Property for a purchase price equal to or greater than $575,000 pursuant to that certain Real Estate Purchase and Sale Agreement, dated as of March 23, 2015, by and between General Electric Credit Equities, Inc. and S&P Consulting, Inc. (the “Grissom Lane Purchase Agreement”). In the event that the Grissom Lane Property is sold pursuant to the Grissom Lane Purchase Agreement prior to the applicable Closing of the Grissom Lane Property under the Purchase Agreement, (i) the Grissom Lane Property shall be deemed an Excluded Asset and (ii) within thirty (30) days of the Seller Parties’ receipt of the net cash proceeds from the sale of the Grissom Lane Property (the “Grissom Lane Proceeds”), the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to the positive difference, if any, (the “Grissom Lane Credit”) between (A) Grissom Lane Proceeds and (B) the Unadjusted Asset Purchase Price for the Grissom Lane Property; provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then any Grissom Lane Credit may instead be paid by the Seller Representative to the Purchaser Parties as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the receipt of the Grissom Lane Proceeds. Notwithstanding the foregoing, the Seller Parties shall not amend the Grissom Lane Purchase Agreement or grant any waivers thereunder without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
		ii.	In the event that the Grissom Lane Property is sold in accordance with the terms hereof prior to the applicable Closing, the Parties acknowledge and agree that proceeds from the sale, disposition or other Transfer of the Grissom Lane Property may be retained by the applicable Seller Party and/or a third party title company or escrow agent following the closing of the Transfer of such Property in order to satisfy post-closing indemnification obligations and other liabilities related to the sale of the Grissom Lane Property, except, in each case, to the extent such obligations or liabilities relate to the Seller Parties or their Affiliates; provided that if any such retained proceeds are subsequently distributed or paid to the applicable Seller Party or any Affiliate thereof, then such distributed proceeds shall be paid by such Person to the applicable Purchaser Party within ten (10) days following such distribution in accordance with Section 1.i(i) above.

j.	Avon.
		i.	With respect to the Property listed as “280 Avon Mountain Rd” on Schedule 2of the Purchase Agreement (the “Avon Property”), the Purchaser Parties have consented to a sale of the Avon Property for a purchase price equal to or greater than $1,850,000 pursuant to that certain Real Estate Purchase and Sale Agreement, dated as of May 20, 2015, by and between Leeward Strategic Properties, Inc. and North House Realty, LLC (the “Avon Purchase Agreement”). In the event that the Avon Property is sold pursuant to the Avon Purchase Agreement prior to the applicable Closing of the Avon Property pursuant to the Avon Purchase Agreement, (i) the Avon Property shall be deemed an Excluded Asset and (ii) within thirty (30) days of the Seller Parties’ receipt of the net cash proceeds from the sale of the Avon Property (the “Avon Proceeds”), the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to thepositive difference, if any, (the “Avon Credit”) between (A) Avon Proceeds and (B) the Unadjusted Asset Purchase Price for the Avon Property; provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then any Avon Credit may instead be paid by the Seller Representative to the Purchaser Parties as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the receipt of the Avon Proceeds. Notwithstanding the foregoing, the Seller Parties shall not amend the Avon Purchase Agreement or grant any waivers thereunder without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
		ii.	In the event that the Avon Property is sold in accordance with the terms hereof prior to the applicable Closing, the Parties acknowledge and agree that proceeds from the sale, disposition or other Transfer of the Avon Property may be retained by the applicable Seller Party and/or a third party title company or escrow agent following the closing of the Transfer of such Property in order to satisfy post-closing indemnification obligations and other liabilities related to the sale of the Avon Property, except, in each case, to the extent such obligations or liabilities relate to the Seller Parties or their Affiliates; provided that if any such retained proceeds are subsequently distributed or paid to the applicable Seller Party or any Affiliate thereof, then such distributed proceeds shall be paid by such Person to the applicable Purchaser Party within ten (10) days following such distribution in accordance with Section 1.j(i)above.

10

		k.	Certain Restructuring Transactions.The Purchaser Parties hereby consent to the restructuring of (x) with respect to the Purchased Entity known as GE Real Estate Developments Limited (“GERED”), (1) a cash pool agreement with GE Capital European Treasury Services Limited as pool leader, and (2) a revolving credit facility with GE Capital UK Finance as lender, and (y) with respect to the Purchased Entity known as GE Real Estate Trading Limited (“GERET”), a cash pool agreement with GE Capital European Treasury Services Limited as pool leader (such arrangements described in this Section  1.k, the “Current Intracompany Arrangements”) as follows:
				i.	Prior to the applicable Closing, the applicable Seller Parties or their applicable Affiliates shall restructure the Current Intracompany Arrangements such that (1) each of GERET and GERED shall enter into a shareholder loan with a Seller Party or an Affiliate of a Seller Party in the form of a revolving credit facility (the “Replacement Intracompany Arrangements”), and (2) each of GERED and GERET shall use the proceeds of the revolving credit facility described in the immediately preceding clause to repay in full all obligations under the Current Intracompany Arrangements.
				ii.	The Parties acknowledge and agree that the Purchaser Parties shall cause each of GERED and GERET to fully repay the Replacement Intracompany Arrangements at the applicable Closing.
		l.	Additional Restructuring Transactions. With respect to the Purchased Entity known as Soldeva Group de Inversiones 2006, S.L. (“Soldeva”), the Purchaser requested that the Seller execute the repayments of shareholder equity contributions via the creation of the Revolving Credit Agreement dated July 13, 2015 by and between Soldeva, as borrower, and GE Real Estate Iberia, S.A., as lender. The Purchaser Parties have also requested that the applicable Seller Parties file US tax Form 8832, “Entity Classification Election”, to treat Soldeva as a disregarded entity for US tax purposes.
2.	Governing Law. This Consent letter will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
3.	Counterparts. This Consent letter may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Consent letter may be executed by facsimile signature or in portable document format (PDF).
4.	Prior Consents. Notwithstanding anything to the contrary, nothing contained herein shall be deemed to void or make ineffective any consent given by the Purchaser Parties prior to the date hereof.

[The remainder of this page is intentionally left blank.]

11

Please confirm your agreement and consent with the foregoing by signing and returning one copy of this Consent letter to the undersigned, whereupon thisConsent Letter shall become a binding agreement among the Parties.

Sincerely.
GENERAL ELECTRIC CAPITAL CORPORATION
	By:
	Name:    Douglas A. Ewing
	Title:      Authorized Signatory

12

Agreed to, acknowledged and accepted as of the date first written above:

PURCHASERREPRESENTATIVE

BRE IMAGINATION HOLDCO LLC,
a Delaware limited liability company

By:
Name:	Tyler Henritze
Title:	Senior Managing Director and Vice President

cc:	Simpson Thacher &Bartlett LLP
	425 LexingtonAvenue
	NewYork,NewYork10154
	Attention: KristaMiniutti

[Consent Letter]

AMENDMENT TO PURCHASE AND SALE AGREEMENT

This Amendment (this “Amendment”) to the Purchase and Sale Agreement, dated as of April 10, 2015 (as such agreement may be amended from time to time, the “Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”), and each of the “Seller Parties” listed on the signature pages thereto (collectively with Seller and together with their designees permitted pursuant to this Agreement, the “Seller Parties”), on the one hand, and each of the “Purchaser Parties” listed on the signature pages thereto (collectively and together with their designees permitted pursuant to this Agreement, the “Purchaser Parties?), on the other hand, shall be effective as of the date of delivery (the “Effective Date”) of a duly executed counterpart hereof by Seller (in its capacity as the representative of the French Seller Parties (as defined below)) and each of the French Seller Parties (as defined below) to BRE Imagination Holdco LLC,a Delaware limited liability company (the “French Purchaser”). Each of the Seller Parties (including, from and after the Effective Date, the French Seller Parties) and each of the Purchaser Parties (including, from and after the Effective Date, the French Purchaser) shall be referred to in this Agreement as a “Party”, and collectively as the “Parties”.

RECITALS:

A.	The Parties entered into the original Agreement on April 10, 2015 and amended by that certain letter amendment, dated as of July 15, 2015.
B.	Concurrently with the execution of the original Agreement, the French Purchaser executed and delivered to Seller, as the representative of certain of its Affiliates doing business in France, Belgium, Switzerland and the Netherlands (the “French Seller Parties”), a letter agreement pursuant to which the French Purchaser irrevocably offered to purchase the French Purchased Interests, the French Properties and the French Commercial Loans (the “Irrevocable Offer”), which was accompanied by a counterpart of this Amendment executed by the Purchaser Representative, on behalf of the Purchaser Parties, and by the French Purchaser.
C.	Seller (in its capacity as the representative of the French Seller Parties) has determined to (i) accept the Irrevocable Offer, and (ii) evidence such acceptance by the execution of this Amendment, in accordance with Section 3 of the Irrevocable Offer.
D.	The Parties (acting through the Seller Representative and the Purchaser Representative) desire to amend the Agreement in accordance with the terms and conditions set forth below.
E.	Capitalized terms used in this Amendment and not defined herein, shall have the meanings given to such terms in the Agreement.

NOW, THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound hereby, agree as follows:

1.	Amendment to Exhibit A.Exhibit A to the Agreement shall be amended such that the following additional defined terms shall be included on such Exhibit A in the appropriate alphabetical order:
	(a)	“French Option Asset” means each of the French Option Purchased Entities, French Option Interests and French Option Properties set forth on Schedule 3-B hereto.

(b)	“French Option Property” means each of the Property-Related Interests described on Schedule 3 hereto.
(c)	“French Option Purchased Entities” means each of the entities set forth on Schedule 3hereto.
(d)	“French Option Purchased Interests” means each of the Interests in each of the French Option Purchased Entities described on Schedule 3hereto.
(e)	“French Option Underlying Property” means any Property-Related Interest owned by a French Option Purchased Entity or any applicable Subsidiary or Joint Venture thereof.
(f)	“French Properties” shall mean each the French Transferred Properties and the French Underlying Properties.
(g)	“French Purchased Entities” shall mean the entities set forth on Schedule 1hereto under the column entitled “French Purchased Entity”.
(h)	“French Purchased Interests” shall mean each of the Interests set forth opposite the name of a French Purchased Entity on Schedule 1 hereto.
(i)	“French Purchased Commercial Loans” each of the Commercial Loans set forth on the French Signing Portfolio Tape (as such French Signing Portfolio Tape may be amended to reflect any Commercial Loans that are acquired or funded by the Seller Parties or the French Purchased Entities following the date of this Agreement in the ordinary course of the Seller Parties’ business in accordance with Section 5.25 of the Agreement, if any).
(j)	“French Signing Portfolio Tape” means a portfolio tape, in Microsoft Excel format, titled “French Signing Portfolio Tape – Project Kensington”, dated March 31, 2015 and as made available to the Purchaser Parties in the Data Room.
(k)	“French Transferred Properties” shall mean each of the Property-Related Interests described on Schedule 2.
(l)	“French Underlying Commercial Loans” means each of the Commercial Loans owned by the French Purchased Entities or any applicable Subsidiary or Joint Venture thereof set forth on the French Signing Portfolio Tape.
(m)	“French Underlying Property” means all Property-Related Interests owned by a French Purchased Entity or any applicable Subsidiary or Joint Venture thereof.
(n)	“French Underlying Seller Property” means all Property-Related Interests owned by, or by a Subsidiary of, a French Purchased Entity that is wholly-owned by a Seller Party.

2.	Amendments to Certain Definitions. From and after the Effective Date, each of the following definitions set forth in the Agreement is hereby amended as follows:
	(a)	All references to “Option Assets” in the Agreement shall be deemed to include all French Option Asset.
	(b)	All references to “Option Properties” in the Agreement shall be deemed to include all French Option Properties.
	(c)	All references to “Option Purchased Entities” in the Agreement shall be deemed to include all French Option Purchased Entities.
	(d)	All references to “Option Purchased Interests” in the Agreement shall be deemed to include all French Option Purchased Interests.
	(e)	All references to “Option Underlying Properties” in the Agreement shall be deemed to include all French Option Underlying Properties.
	(f)	All references to “Properties” in the Agreement shall be deemed to include all French Properties
	(g)	All references to “Purchased Entities” in the Agreement shall be deemed to include all French Purchased Entities.
	(h)	All references to “Purchased Interests” in the Agreement shall be deemed to include all French Purchased Interests.
	(i)	All references to “Purchased Commercial Loans” in the Agreement shall be deemed to include all French Purchased Commercial Loans.
	(j)	All references to “Transferred Properties” in the Agreement shall be deemed to include all French Transferred Properties.
	(k)	All references to “Underlying Commercial Loans” in the Agreement shall be deemed to include all French Underlying Commercial Loans.
	(l)	All references to “Underlying Properties” in the Agreement shall be deemed to include all French Underlying Properties.
	(m)	All references to “Underlying Seller Properties” in the Agreement shall be deemed to include all French Underlying Seller Properties.
3.	Amendment to Section 3.8. Section 3.8 to the Agreement is hereby amended to delete such provision in its entirety and replace such provision in its entirety with the following:
	“3.8 Portfolio Tape.
	(a)	The Seller Parties have furnished or made available to the Purchaser Parties (i) a portfolio tape, in Microsoft Excel format, titled “Signing Portfolio Tape – Project Kensington”, dated March 31, 2015 and as made available to the Purchaser Parties in the Data Room (the “Signing Portfolio Tape”), and (ii) the French Signing Portfolio Tape. The Loan Portfolio Information set forth on (i) each of the Signing Portfolio Tape and the French Signing Portfolio Tape is true and correct as of the date thereof, and (ii) each Closing Date CL Portfolio Tape shall be true and correct as of the date thereof (subject to updates to reflect changes to the factual information for the period commencing on the date of the Signing Portfolio Tape and the French Signing Portfolio Tape and terminating on the applicable Closing Date).
	(b)	Each of the Signing Portfolio Tape and the French Signing Portfolio Tape was prepared in good faith by the Seller Parties in accordance with the books and records of the applicable Seller Parties consistent with the applicable Seller Parties past practice.”

4.	Deferred Assets.
	(a)	The Parties acknowledge and agree that, to the extent that the Initial Closing has occurred prior to the Effective Date, then each of the French Properties, French Purchased Commercial Loans and French Purchased Interests (and any related French Underlying Properties and French Underlying Commercial Loans) shall constitute “Deferred Assets” pursuant to the terms of the Agreement.
	(b)	Except to the extent that any Required Third Party Consent and/or any required consent or approval of any Governmental Entity has not been received or waived prior to the next succeeding Deferred Closing following the Effective Date in respect of any such French Purchased Interests, French Property or French Commercial Loan, as applicable, then such French Purchased Interests, French Properties and French Purchased Commercial Loans shall be Transferred to the applicable Purchaser Party at such next succeeding Deferred Closing, in accordance with the terms and conditions of the Agreement, as amended by this Amendment.
5.	Joinder to Agreement. By execution of this Amendment, each of the Purchaser Representative, the French Purchaser, Seller and the French Seller Parties listed on the signature pages hereto acknowledges, agrees and confirms that, by its execution of this Amendment, the French Purchaser and each French Seller Party shall be deemed to be a party to the Agreement and shall have all of the obligations of the “Purchaser Parties” (in the case of the French Purchaser) or the “Seller Parties” (in the case of the French Seller Parties) thereunder as if it had executed the Agreement. Each such French Seller Party hereby ratifies and agrees to be bound by, all of the terms, provisions and conditions contained in the Agreement applicable to a “Seller Party” and the French Purchaser ratifies and agrees to be bound by, all of the terms, provisions and conditions contained in the Agreement applicable a “Purchaser Party”.
6.	Effect of Amendment. From and after the Effective Date, each reference in the Agreement to “this Agreement” shall mean the Agreement, as amended pursuant to this Amendment. In the event of any inconsistencies between this Amendment and the Agreement, the terms of this Amendment shall govern.
7.	Governing Law. This Amendment will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
8.	Counterparts. This Amendment may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Agreement may be executed by facsimile signature or in portable document format (PDF).

9.  Entire Agreement. Except as specifically amended by this Amendment, the Agreement remains in full force and effect and is hereby ratified and confirmed by the Parties. The Agreement (including all exhibit and schedules thereto), as amended by this Amendment, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified by the provisions of Section 12.1 of the Agreement.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the Parties set forth below have caused this Amendment to be signed and delivered by their respective officers thereunto duly authorized all as of the date first written above.

FRENCH SELLER REPRESENTATIVE:
	GENERAL ELECTRIC CAPITALCORPORATION, a Delaware corporation
	By:
	Name:     Alec S. Burger
	Title:       Vice President

[Signatures continue onthefollowingpage]

Signature Page to Amendment

PURCHASER REPRESENTATIVE:
	BRE IMAGINATION HOLDCO LLC,
	a Delaware limited liability company
	By:
	Name:	Kenneth A. Caplan
	Title:	Senior Managing Director and Vice
		President
FRENCH PURCHASER:
	BRE IMAGINATION HOLDCO LLC,
	a Delaware limited liability company
	By:
	Name:	Kenneth A. Caplan
	Title:	Senior Managing Director and Vice
		President

SCHEDULES TO AMENDMENT TO PURCHASE AND SALE AGREEMENT

French Purchased Entities and French Purchased Interests
French Properties
French Option Assets

General Electric Capital Corporation undertakes to furnish supplementally to the Securities and Exchange Commission a copy of any of these schedules upon request.

General Electric Capital Corporation
901 Main Avenue
Norwalk, Connecticut 06851

August 5, 2015

BRE Imagination Holdco LLC
c/o The Blackstone Group
345 Park Avenue, 42nd Floor
New York, New York 10154
Attention: William Stein and Judy Turchin

Re: Letter Agreement (“Letter Agreement”) detailing certain amendments to the Purchase and Sale Agreement

Ladies and Gentlemen:

Reference is hereby made to that certain Purchase and Sale Agreement, dated as of April 10, 2015 (as amended from time to time, the “Purchase Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany II LLC, a Delaware limited liability company (collectively, “Purchaser”), on the other hand. Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement.

A.	Acquisition of GE Real Estate Italia Retail S.r.l. The Seller Parties and the Purchaser Parties agree as follows:
		a.	The Purchaser Parties shall acquire the Interests in GE Real Estate Italia Retail S.r.l. (“GE Retail” and the Interests therein, the “GE Retail Interest”). GE Retail shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and the GE Retail Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a) and 3.9(c) to the Purchase Agreement shall be amended to add as additional information relating to GE Retail and the GE Retail Interests, as set forth on Schedule A attached hereto, in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement.
		b.	The Purchaser Parties shall acquire the GE Retail Interests in lieu of purchasing the Purchased Interests described as Gran Commercio S.r.l. on Schedule 1 of the Purchase Agreement and the Purchased Interests described as “Gran Commercio S.r.l.” shall be deleted from Schedule 1 to the Purchase Agreement. The Unadjusted Purchase Price payable to the Seller Parties with respect to the GE Retail Interests is set forth on Schedule A attached hereto (which Unadjusted Purchase Price shall constitute the aggregate Unadjusted Purchase Price, on a consolidated basis, for the GE Retail Interests together with any Subsidiaries of GE Retail existing at the time of the acquisition of the GE Retail Interests by the Purchaser Parties, which aggregate Unadjusted Purchase Price shall be adjusted, on a consolidated basis, in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement). For the avoidance of doubt, the Purchased Interests described as Primavera Shopping S.r.l. on Schedule 1 of the Purchase Agreement shall be Transferred to the Purchaser Parties prior to the acquisition of the GE Retail Interests by the Purchaser Parties.

		c.	The Parties acknowledge and agree that, notwithstanding any provision of the Purchase Agreement to the contrary, the Purchaser Parties shall have no right to seek any Losses from the Seller Parties with respect to the inability to take a deduction with respect to interest expense associated with intercompany indebtedness specifically created as a result of Section 4 of Schedule 5.1(i)(E) of this Purchase Agreement, and all rights and claims of the Purchaser Parties in connection therewith are hereby fully and irrevocably waived.
		d.	The Purchaser Parties acknowledge and agree that (i) at the time of Transfers of the Purchased Interests in Primavera Shopping S.r.l. (“Primavera” and the Interests therein, the “Primavera Interest”) and the GE Retail Interests to the Purchaser Parties by the applicable Seller Parties, each of GE Retail and its wholly–owned Subsidiaries, Gran Commercio S.r.l., and Primavera, shall be liable for outstanding indebtedness owning to each of GE Capital Irish EUR Funding Co I, GE Real Estate Trading S.a.s. di GE Real Estate Italia S.r.l. and GE Italy Holding Corp. in an aggregate amount equal to approximately €72,648,997.51 (the “Italia Indebtedness”), and (ii) immediately following the applicable Closings relating to the Transfers of the Primavera Interests and the GE Retail Interests, respectively, to the Purchaser Parties by the applicable Seller Parties, the Purchaser Parties shall cause each of Primavera, GE Retail, and Gran Commercio S.r.l. to repay in full to GE Capital lrish EUR Funding Co I, GE Real Estate Trading S.a.s. di GE Real Estate Italia S.r.l. and GE Italy Holding Corp. all of the outstanding Italia Indebtedness.
B.	Schedule 5.l(i)(E). Schedule 5.l(i)(E) to the Purchase Agreement shall be amended to add the provisions set forth on Schedule B attached hereto following as a new Section 4 and a new Section 5 of Schedule 5.l(i)(E) to the Purchase Agreement following the current Section 3 of Schedule 5.1(i)(E) to the Purchase Agreement.
C.	Schedule 5.5(a). Schedule 5.5(a) to the Purchase Agreement shall be amended to add the following transfers of Commercial Loans and Purchased Entities
	“Shares of Purchased Entities      GE Real Estate Italia Retail S.r.l.      GE Real Estate Italia Retail S.r.l.        GE Seller      GE Italy Holding Corp.      GE Real Estate Trading S.a.s. di GE Real Estate Italia S.r.l.”
D.	Section 5.5(c). The first sentence of Section 5.5(c) of the Purchase Agreement shall be amended and restated as follows:
	“In respect of European situated Equity Entities or Properties, any Transfer Taxes for the account of, or borne by, the Seller Parties pursuant to this Section 5.5 shall be paid, (i) by a Seller Party directly to the relevant Tax Authority so far as permitted by applicable Laws, or (ii) where Transfer Taxes are required to be paid to the relevant Tax Authority by a notary pursuant to applicable Laws, by the concerned Purchaser Party paying to such notary an amount equal to the Unadjusted Purchase Price, and thereafter by such notary (A) paying such Transfer Taxes to the relevant Tax Authority, (B) retaining the portion of its fees to be borne by the Seller Parties pursuant to Section 12.13 of this Agreement and (C) paying the balance over to the relevant Seller Party, or (iii) otherwise shall be paid to a Purchaser Party by the relevant Seller Party for payment by such Purchaser Party to the relevant Tax Authority.”

E.	Section 5.6(d). Section 5.6(d) of the Purchase Agreement shall be amended to add the following sentence as the final sentence of Section 5.6(d) of the Purchase Agreement:
		“Tax refunds to which the Seller Parties are entitled under this Section 5.6(d), including any refund connected with the Tax litigation mentioned in the final sentence of Section 5.6(f) of this Agreement (in each case, net of any taxes, charges or fees due, or costs incurred, in connection with the collection thereof), shall be paid by the Purchaser Parties to the Seller Parties within five (5) Business Days of the Purchaser Parties’ receipt of such Tax refund from the applicable Tax Authorities. The Purchaser Parties shall also deliver to the Seller Parties within five (5) Business Days of the Purchaser Parties’ receipt of such Tax refund from the applicable Tax Authorities evidence reasonably acceptable to the Seller Parties of the amount of the Tax refund received by the Purchaser Parties.”
F.	Section 5.6(f). Section 5.6(f) of the Purchase Agreement shall be amended to add the following sentence as the final sentence of Section 5.6(f) of the Purchase Agreement:
		“The Seller Parties or the duly appointed representatives thereof shall, at the expense of the Seller Parties and at the discretion of the Seller Parties or the duly appointed representatives thereof, negotiate, defend, control, settle or compromise any Tax liability, audit, litigation, claim or assessment with Italian Tax Authorities related to the imposition of withholding Taxes on interest paid by GE Real Estate Italia Retail S.r.l., Gran Commercio S.r.l., or Primavera Shopping S.r.l. to a Hungarian related party lender for years prior to 2011 (the “Historical Italia Tax Proceedings”) and Purchaser Parties shall provide Seller Parties or their designated representatives with any Powers of Attorney reasonably necessary to permit Seller Parties to do so in the name of or on behalf of any Equity Entity.”
G.	Section 5.8(b). Section 5.8(b) of the Purchase Agreement shall be amended to add the following sentence as the final sentence of Section 5.8(b):
		“Notwithstanding anything to the contrary in this Agreement, the Purchaser Parties and their Affiliates shall not make an election to classify GE Real Estate Italia Retail S.r.l. as an entity other than an association taxable as a corporation for U.S. federal income tax purposes on IRS Form 8832 or otherwise with an effective date prior to the day following the Closing Date.”
H.	Survival of OFAC Representation. Section 11.1 of the Purchase Agreement shall be amended and restated in its entirety as follows:
		“11.1 Survival of Representations and Warranties. The rights of the Parties to indemnification under this Agreement with respect to the representations and warranties made hereunder shall survive each Closing for a period of twelve (12) months; provided, however that the rights of the Parties to indemnification under this Agreement with respect to the representations and warranties in (i) Sections 3.1, 3.2, 3.4, 3,8(a), 3.9, 3.10, 3.14(b)(i), 3.14(d)(i), 3.14(d)(ii), 3.14(h) and 3.16 (collectively, together with the representation in Section 3.22, the “Fundamental Seller Representations”) and Sections 4.1, 4.3, 4.6, 4.7 and 4.8 (collectively, the “Fundamental Purchaser Representations”) shall survive the applicable Closing for a period of five (5) years, and (ii) Section 3.22 shall survive the applicable Closing for a period of seven (7) years.”

J.	Section 11.3. Section 11.3 of the Purchase Agreement shall be amended to add the following as a new Section 11.3(h):
		“(h) any claw back (including based on a challengeable tax assessment) to the extent such claw back relates to or arises as a result of (i) the distribution of equity reserves by GE Real Estate Italia Retail S.r.l. to its shareholders as described in Step I of Section 4 of Schedule 5.1(i)(E) of this Purchase Agreement (GE Real Estate Italia Retail S.r.l Restructuring Plan) and (ii) GE Real Estate Italia Retail S.r.l. (x) being wound up or liquidated, (y) substantially ceasing any activity, or (z) being subject to a Bankruptcy proceeding, in each case within three (3) years of the date of this Agreement.”
K.	Section12.13. The final sentence of Section 12.13of the Purchase Agreement shall be amended and restated as follows:
		“The Purchaser Parties will be responsible for all Property Transfer Costs (including notary fees associated with the Transactions) and the Seller Parties will have no responsibility for obtaining or paying for any Surveys, Title Commitments or Property Transfer Costs, except that the Seller Parties shall be responsible for forty percent (40%) of notary fees associated with the Transfers of French-situated Equity Entities or Properties otherwise to be borne by the Purchaser Parties under this Section 12.13. Any notary fees which are the responsibility of the Seller Parties pursuant to this Section 12.13shall be paid to the relevant notary as described in 5.5(c) above. For purposes of clarification, Transfer Taxes do not constitute Property Transfer Costs and are governed by Section 5.5 of this Agreement.”
L.	Exhibit A.
		a. The definitions of “Property Transfer Costs” and “Transfer Taxes” set forth on Exhibit A to the Purchase Agreement are hereby amended and restated in their entirety as follows: “Property Transfer Costs” means all title, transfer and closing costs and expenses associated with the Transactions including (i)costs related to the preparation of title commitments on all Properties, Underlying Properties and Commercial Loan Properties, (ii) premiums for extended owners title policies and customary endorsements, (iii) notary fees; and (iv) escrow fees; provided, that Property Transfer Costs shall not include the Seller Parties’ attorney fees incurred in connection with the Transfer of the Purchased Interests, the Properties, and the Purchased Commercial Loans or any Transfer Taxes.” “Transfer Taxes” shall not include notary fees, recoverable value added taxes or any UK VAT, Polish VAT, Italian VAT or Spanish VAT, but shall otherwise mean any real property or other transfer, sales, use, goods and services, harmonized sales, non-recoverable value added (other than with respect to UK VAT, Polish VAT, Italian VAT or Spanish VAT), or stamp Taxes, fees, or duties, or any recording, registration or similar Taxes, fees or duties (together with any interest, penalty, or addition thereto).”  b. The definition of “Excluded Liabilities” set forth on Exhibit A to the Purchase Agreement is hereby amended to add the following as clause (h) of such definition:  “(g) relating to the Historical Italia Tax Proceedings.”

M.	Purchaser Party Designees. Pursuant to Section 12.9 of the Purchase Agreement and in anticipation of the GE Italia Interests as set forth in Section A above, the Purchaser Representative hereby designates Kensington Italy Retail Holdco S.à r.l as a “Purchaser Party Designee”. The Purchaser Party Designee shall assume the rights and obligations of Purchaser under the Purchase Agreement in respect of, and shall purchase, acquire and take title to, the GE Italia Interests.
N.	Italian Restructuring Discharge. Kensington Italy Retail Holdco S.à r.l., as the future shareholder of GE Retail and as indirect owner of Gran Commercio S.r.l. and Primavera Shopping S.r.l., waives and undertakes not to vote in favor of any action which may be brought against each of the existing directors GE Retail, Gran Commercio S.r.l. or Primavera Shopping S.r.l., (i) which relates to or arises as a result of any of the restructuring steps described in Step I – Step V of Section 4 of Schedule 5.1(i)(E) of the Purchase Agreement and/or (ii) which relates to the amendment made to the revolving credit agreement dated 10 October 2007 (as subsequently amended) entered into with GE Capital Irish Euro Funding Co. I pursuant to the amendment agreement dated 3 August 2015 in respect of Primavera Shopping S.r.l.
O.	Effect. From and after the date of this Letter Agreement, each reference in the Purchase Agreement to “this Agreement” shall mean the Purchase Agreement, as amended pursuant to this Letter Agreement. In the event of any inconsistencies between this Letter Agreement and the Purchase Agreement, the terms of this Letter Agreement shall govern.
P.	Governing Law. This Letter Agreement will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
Q.	Counterparts. This Letter Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Letter Agreement may be executed by facsimile signature or in portable document format (PDF).
R.	Entire Agreement. Except as specifically amended by this Letter Agreement, the Purchase Agreement remains in full force and effect and is hereby ratified and confirmed by the Parties. The Purchase Agreement (including all exhibit and schedules thereto), as amended by this Letter Amendment, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified by the provisions of Section 12.1 of the Purchase Agreement.

[The remainder of this page is intentionally left blank.]

Please confirm your agreement and consent with the foregoing by signing and returning one copy of this Letter Agreement to the undersigned, whereupon this Letter Agreement shall become a binding agreement among the Parties.

Sincerely,
GENERAL ELECTRIC CAPITAL CORPORATION
	By:
	Name:    Douglas A. Ewing
	Title:     Authorized Signatory

Agreed to, acknowledged and accepted as of the date first written above:

PURCHASER REPRESENTATIVE

BRE IMAGINATION HOLDCO LLC,
a Delaware limited liability company

By:
Name:	Tyler Henritze
Title:	Senior Managing Director and Vice President

cc:	Simpson Thacher & Bartlett LLP
	425 Lexington Avenue
	New York, New York 10154
	Attention: Krista Miniutti

SCHEDULES TO LETTER AGREEMENT

Additional Purchased Entity Information
Restructuring / Tax Matters

General Electric Capital Corporation undertakes to furnish supplementally to the Securities and Exchange Commission a copy of any of these schedules upon request.

General Electric Capital Corporation
901 Main Avenue
Norwalk, Connecticut 06851

September 4, 2015

BRE Imagination Holdco LLC
c/o The Blackstone Group
345 Park Avenue, 42nd Floor
New York, New York 10154
Attention: William Stein and Judy Turchin

Re: Letter Agreement (“Letter Agreement”) detailing certain amendments to the Purchase and Sale Agreement and certain Consents

Ladies and Gentlemen:

Reference is hereby made to (i) that certain Purchase and Sale Agreement, dated as of April 10, 2015 (as amended, the “Purchase Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany II LLC, a Delaware limited liability company (collectively, “Purchaser”), on the other hand and (ii) that certain letter agreement dated as of July 15, 2015 by and between Seller Representative and BRE Imagination Holdco LLC (the “July 15 Consent Agreement”). Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement.

A.	Specific Venture Buy-Sells.
	1. The Seller Parties and the Purchaser Parties agree for the Purchased Interests listed on Schedule 1 of the Purchase Agreement with respect to the Purchased Entity known as “CCS FUNDING, LLC”, the reference to “May 31, 2015” in Section 7.2(c)(i) of the Purchase Agreement shall be changed to September 30, 2015
	2. Paragraph 1.f of the July 15 Consent Agreement hereby is amended as follows:
	a.	The reference in the first sentence to “Section 1.d” hereafter shall be deemed a reference to Section B(a) of this Consent Agreement.
	b.	Each reference to the date “August 31, 2015” hereafter shall be deemed a reference to the date “September 30, 2015”.

B.   Consent Matters. Pursuant to the Purchase Agreement, certain actions of the Seller Parties and the Equity Entities described in the Purchase Agreement taken after the date of the Purchase Agreement and prior to the applicable Closing Date on which the applicable Purchased Interests, Transferred Properties or Purchased Commercial Loans are Transferred to the Purchaser Parties (or the earlier termination of the Purchase Agreement) require the consent of the Purchaser Representative (acting on behalf of the Purchaser Parties pursuant to Section 12.3(b) of the Purchase Agreement) prior to the taking of any such action (provided that any actions taken by any of the Seller Parties prior to the date hereof with respect to any matter for which a consent is granted below shall be deemed to have been approved by the Purchaser Parties for all purposes). Pursuant to and in accordance with the terms of the Purchase Agreement, the Purchaser Representative hereby consents to and approves the following actions (and the approval and consent by the GE Partner of any major decisions with respect thereto):

a.	Sale of Autumn Creek Property: In lieu of the consent granted pursuant to Section 1(d) of the July 15 Consent Agreement, with respect to the Property known as “Autumn Creek,” the GE Partner shall be entitled to consent to the sale, disposition or other Transfer by the Purchased Entity known as “CCS Funding, LLC” or its applicable Subsidiary of PM Autumn Creek Chandler, LLC (the “Autumn Creek Owner”), the owner of the Autumn Creek Property to the Operating Partner in CCS Funding, LLC or an Affiliate of the Operating Partner for a purchase price equal to or greater than $31,600,000 (less any amounts deducted therefrom to determine the “Purchase Price” payable for the Transfer of the Autumn Creek Owner under the purchase contract for such Transfer), and shall be entitled to take all actions (including causing the execution of a purchase contract subject to the reasonable approval of the Purchaser Parties) to cause such sale, disposition or other Transfer to occur. In connection with such consent and approval, each of the Purchaser Representative (on behalf of the Purchaser Parties) and the Seller Representative (on behalf of the Seller Parties) make the following additional acknowledgements and agreements:
		1.	Within thirty (30) days following any distribution or payment to the GE Partner in CCS Funding, LLC or any Affiliate thereof with respect to proceeds from the sale, disposition or other Transfer of the Autumn Creek Owner, the Seller Representative shall pay to the Purchaser Representative (on behalf of the Purchaser Parties) an amount equal to the difference, if positive, between (A) the net cash proceeds actually distributed or paid (on an as-and-when-received basis) to the GE Partner or any Affiliate thereof solely with respect to the sale of the Autumn Creek Owner (which for the avoidance of doubt shall include any proceeds paid on account of distributions or payments to the GE Partner or any Affiliate thereof pursuant to that certain Limited Liability Company Agreement of VGP Funding, LLC dated as of May 24, 2007, as amended (the “VGP LLC Agreement”), minus (B) the amount that would have been paid by the applicable Purchaser Party to the applicable Seller Party with respect to the Property known as Autumn Creek in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement (including the Hypothetical Sale provisions set forth therein) if the Purchased Interests in such Purchased Entity had been Transferred to the Purchaser Parties in accordance with the terms of the Purchase Agreement (the resulting amount, the “Autumn Creek Proceeds Payment”); provided, however, that to the extent that all applicable Equity Closings under the Purchase Agreement have not yet been consummated, then any Autumn Creek Proceeds Payment may instead be paid by the Seller Representative to the Purchaser Parties as a credit against the Estimated Initial Purchase Price or Estimated Deferred Purchase Price, as applicable, to be paid by the Purchaser Parties at the next applicable Equity Closing that occurs at least thirty (30) days after the date of the applicable distribution or payment.

		2.	Notwithstanding the foregoing, the Seller Parties shall not sell, dispose of or Transfer (or consent to a sale, disposition or Transfer) of the Autumn Creek Owner for less than the Autumn Creek Purchase Price without the prior written consent of the Purchaser Parties, which consent may be granted or withheld in the Purchaser Parties sole discretion.
		3.	After closing of the sale of the Autumn Creek Owner, if one or more claims is asserted against the applicable selling entity and/or any or its affiliates or constituent partners or members, arising from or relating to Property PSA Claims, then to the extent any Seller Party consents to or otherwise becomes obligated to make contributions or to pay, directly or indirectly, any costs, expenses or payments with respect to or on account of any Property PSA Claim relating to the Autumn Creek Owner, the Purchaser Parties shall, jointly and severally, be obligated to pay the applicable Seller Parties the aggregate amount of all such costs, expenses or payments not to exceed the Autumn Creek Proceeds Payment. Any such payments shall be made by the earlier of (i) the date that such contribution is required under the applicable Venture Agreement and (ii) thirty (30) days of receipt of notice from the Seller Parties that any such Property PSA Claims are payable. The Seller Parties shall consult with the Purchaser Parties in advance of consenting to make or pay any such contribution or payment (but in no event shall the Seller Parties be required to obtain consent of the Purchaser Parties in connection with any such contribution or payment).
		4.	Seller and Purchaser agree that any amount received by Seller that is included in the Autumn Creek Proceeds Payment will be received and held for the account of Purchaser and that no such amount will be beneficially owned by Seller. Seller and Purchaser agree to file all relevant Tax returns consistent with this understanding.
C.	Effect. From and after the date of this Letter Agreement, each reference in the Purchase Agreement to “this Agreement” shall mean the Purchase Agreement, as amended pursuant to this Letter Agreement. In the event of any inconsistencies between this Letter Agreement and the Purchase Agreement or the Consent Agreement, the terms of this Letter Agreement shall govern.
D.	Governing Law. This Letter Agreement will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
E.	Counterparts. This Letter Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Letter Agreement may be executed by facsimile signature or in portable document format (PDF).

F.   Entire Agreement. Except as specifically amended by this Letter Agreement, each of the Purchase Agreement and the Consent Agreement remains in full force and effect and is hereby ratified and confirmed by the Parties. The Purchase Agreement (including all exhibit and schedules thereto), as amended by this Letter Amendment, and the Consent Agreement, as amended by this Letter Agreement, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified by the provisions of Section 12.1 of the Purchase Agreement.

[The remainder of this page is intentionally left blank.]

Please confirm your agreement and consent with the foregoing by signing and returning one copy of this Letter Agreement to the undersigned, whereupon this Letter Agreement shall become a binding agreement among the Parties.

Sincerely,
GENERAL ELECTRIC CAPITAL CORPORATION
	By:
	Name:    Chris D. Sullivan
	Title:     Authorized Signatory

Agreed to, acknowledged and accepted as of the date first written above:

PURCHASER REPRESENTATIVE

BRE IMAGINATION HOLDCO LLC,
a Delaware limited liability company

By:
Name:	Anthony Beovich
Title:	Managing Director and Assistant Treasurer

cc:	Simpson Thacher & Bartlett LLP
	425 Lexington Avenue
	New York, New York 10154
	Attention: Krista Miniutti

General Electric Capital Corporation
901 Main Avenue
Norwalk, Connecticut 06851

September 30, 2015

BRE Imagination Holdco LLC
c/o The Blackstone Group
345 Park Avenue, 42nd Floor
New York, New York 10154
Attention: William Stein and Judy Turchin

Re: Letter Agreement (“Letter Agreement”) detailing certain amendments to the Purchase and Sale Agreement and certain Consents

Ladies and Gentlemen:

Reference is hereby made to (i) that certain Purchase and Sale Agreement, dated as of April 10, 2015 (as amended, the “Purchase Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany II LLC, a Delaware limited liability company (collectively, “Purchaser”), on the other hand and (ii) that certain letter agreement dated as of July 15, 2015 by and between Seller Representative and BRE Imagination Holdco LLC (the “Consent Agreement”). Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement.

A.

Southdale Equity Asset. Notwithstanding the fact that Seller is exercising the Buy-Sell with respect to the Joint Venture that owns, directly or indirectly, 78.27% of the Underlying Property listed as “Southdale Office” on Schedule 1(the “Southdale Property”), Seller agrees that Purchaser shall be under no obligation to acquire the Southdale Property unless (i) Seller acquires (and can convey to Purchaser) fee simple title to 100% of the Southdale Property in the manner and condition contemplated by the Purchase Agreement and (ii) the tenant in common agreement relating thereto has been terminated or satisfied and released of record.

B.

Hayman Equity Asset. In lieu of exercising a Buy-Sell with respect to the Joint Venture that owns the Underlying Property listed as “Hayman – Seville” on Schedule I(the “Hayman Property”), Seller shall exercise the “Right of First Offer” under Article 14 of the related Joint Venture agreement. If the Operating Partner fails to approve of, or rejects, the sale of the Hayman Property to Purchaser, Seller may cause the Operating Partner to acquire Seller’s interests in the Joint Venture and the proceeds of such sale shall be apportioned between Seller and Purchaser in accordance with Section 7.2(c)(iii) of the Purchase Agreement with the sale price being used in lieu of the Buy/Sell Sale Price, provided that any actual third party costs incurred by any Seller Party, excluding legal fees, in connection with such sale may be deducted by the Seller Parties from the amounts payable to the Purchaser Parties under Section 7.2(c)(iii) of the Purchase Agreement. Additionally, notwithstanding anything to the contrary contained in any purchase agreement between the Joint Venture and Purchase relating to the Hayman Property (the “Hayman Purchase Agreement”) and any related notice to the Operating Partner relating thereto, costs and expenses of the sale shall be allocated between Purchaser and the Joint Venture consistent with how they would be allocated between Purchaser and Seller in accordance with the Purchase Agreement. For the avoidance of doubt, the Joint Venture shall be responsible for all prepayment fees/defeasance costs up to an amount equal to the loan assumption fees that would have been charged by the existing lender had Purchaser assumed the Existing Loan relating to the Hayman Property (the “Assumed Loan Fees”), with Purchaser being responsible for payment/defeasance costs in excess of the Assumed Loan Fees, but expressly excluding the Seller’s and Joint Venture’s legal costs and expenses.

C.	INTENTIONALLY DELETED.
D.	INTENTIONALLY DELETED
E.	Stage Road and NHC. The Buy-Sell initiation notices relating to (i) the Underlying Property listed as “Stage Road” on Schedule 1 and (ii) the Underlying Properties listed on Schedule 1 next to the Purchased Entity “National Home Communities” include an increase in the “Net Valuation Amount” (as set forth in the applicable Buy-Sell initiation notices) for certain cash balances being held by the applicable Joint Ventures. In the event either Operating Partner elects to sell its interests in the related Joint Venture to the relevant Seller Party and the Seller Party subsequently transfers the related Properties to Purchaser, Seller and Purchaser agree that the Unadjusted Purchase Price payable for the Underlying Properties by Purchaser shall be adjusted to equal the sum of (x) the Unadjusted Asset Purchase Price that would have been payable for the applicable Purchased Interest if Purchaser were to acquire the applicable Purchased Interest in the applicable Joint Venture only (as adjusted pursuant to Section 1.4(a)(iv) of the Purchase Agreement) and (y) the purchase price actually paid by Seller to acquire the interest of the Operating Partner in such Joint Venture pursuant to the Buy-Sell in accordance with Section 7.2(c) of the Purchase Agreement (excluding the allocable portion of any cash balances and escrows (to the extent included in the purchase price) and, the purchase price payable pursuant to (x) and (y) above shall be subject to the adjustments provided in Section 1.4 with respect to the Transfer of the Transferred Property. Any costs and expenses of the acquisition of the Joint Venture interests shall be allocated between Seller and the Joint Venture in accordance with the applicable Joint Venture agreement.
F.	Seller and Purchaser agree that any amount received by Seller that is included in any payment of proceeds to Purchaser in connection with the sale of an Underlying Property or any Purchased Interest to any party other than Purchaser will be received and held for the account of Purchaser and that no such amount will be beneficially owned by Seller. Seller and Purchaser agree to file all relevant Tax returns consistent with this understanding. Seller and Purchaser further agree that, for avoidance of doubt, in the event that, pursuant to Section 7.2(c)(ii) of the Purchase Agreement, a Buy-Sell is exercised with respect to a Joint Venture and the Buy-Sell Price exceeds the B/S Value (as designated in a writing by Purchaser Parties that has been approved by Seller Parties pursuant to said Section 7.2(c)(ii)), then, in the event the Underlying Property or Underlying Properties becomes a Transferred Property or Transferred Properties as provided in Section 7.2(c)(iii) of the Purchase Agreement, then the applicable Unadjusted Asset Purchase Price for such Underlying Property or Underlying Properties shall be adjusted to equal the sum of (x) the Unadjusted Asset Purchase Price that would have been payable for the applicable Purchased Interest if Purchaser were to acquire the applicable Purchased Interest in such Joint Venture only (as adjusted pursuant to Section l.4(a)(iv) of the Purchase Agreement) and (y) the purchase price actually paid by Seller to acquire the interest of the Operating Partner in such Joint Venture pursuant to the Buy-Sell in accordance with Section 7.2(c) of the Purchase Agreement (excluding the allocable portion of any cash balances and escrows (to the extent included in the purchase price) and, the purchase price payable pursuant to (x) and (y) above shall be subject to the adjustments provided in Section 1.4 with respect to the Transfer of the Transferred Property. Any costs and expenses of the acquisition of the Joint Venture interests shall be allocated between Seller and the Joint Venture in accordance with the applicable Joint Venture agreement.

	In connection with any acquisition by Seller of the Southdale Property, in the event Seller acquires the 21.73% interest in the portion of the Southdale Property held by the applicable Joint Venture’s tenant in common for a price in excess of the Buy/Sell Sale Price, then at Seller’s option, Seller may sell the Southdale Property to Purchaser based on the Buy/Sell Sale Price or elect to retain the Southdale Property and not sell it to Purchaser. Notwithstanding the foregoing, Purchaser shall have the option to acquire the Southdale Property for a purchase equal to the sum of (x) the purchase price provided for in section A above and the foregoing paragraph of this section F and (y) the amount paid by Seller to acquire the tenant in common interest.
G.	Effect. From and after the date of this Letter Agreement, each reference in the Purchase Agreement to “this Agreement” shall mean the Purchase Agreement, as amended pursuant to this Letter Agreement. In the event of any inconsistencies between this Letter Agreement and the Purchase Agreement or the Consent Agreement, the terms of this Letter Agreement shall govern.
H.	Governing Law. This Letter Agreement will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable conflicts of law principles thereof.
I.	Counterparts. This Letter Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. This Letter Agreement may be executed by facsimile signature or in portable document format (PDF).
J.	Entire Agreement. Except as specifically amended by this Letter Agreement, each of the Purchase Agreement and the Consent Agreement remains in full force and effect and is hereby ratified and confirmed by the Parties. The Purchase Agreement (including all exhibit and schedules thereto), as amended by this Letter Amendment, and the Consent Agreement, as amended by this Letter Agreement, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified by the provisions of Section 12.1 of the Purchase Agreement.

[The remainder of this page is intentionally left blank.]

Please confirm your agreement and consent with the foregoing by signing and returning one copy of this Letter Agreement to the undersigned, whereupon this Letter Agreement shall become a binding agreement among the Parties.

Sincerely,
GENERAL ELECTRIC CAPITAL CORPORATION
	By:
	Name:    Douglas A. Ewing
	Title:     Authorized Signatory

Agreed to, acknowledged and accepted as of the date first written above:

PURCHASER REPRESENTATIVE

BRE IMAGINATION HOLDCO LLC,
a Delaware limited liability company

By:
Name:	Tyler Henritze
Title:	Senior Managing Director and Vice President

cc:	Simpson Thacher & Bartlett LLP
	425 Lexington Avenue
	New York, New York 10154
	Attention: Krista Miniutti

EX-12

Exhibit 12
General Electric Capital Corporation and consolidated affiliates
Computation of Ratio of Earnings to Fixed Charges and
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Nine months ended September 30, 2015
(Unaudited)
(Dollars in millions)
Loss(a)	$	(1,128)
Plus:
Interest and other financial charges included in expense(b)		5,452
One-third of rental expense(c)		104
Adjusted "earnings"	$	4,428
Fixed charges:
Interest and other financial charges included in expense(b)	$	5,452
Interest capitalized		17
One-third of rental expense(c)		104
Total fixed charges	$	5,573
Ratio of earnings to fixed charges		0.79
Preferred stock dividend requirements	$	161
Ratio of earnings before provision for income taxes to earnings from continuing operations		0.14
Preferred stock dividend factor on pre-tax basis	$	22
Fixed charges		5,573
Total fixed charges and preferred stock dividend requirements	$	5,595
Ratio of earnings to combined fixed charges and preferred stock dividends		0.79

(a) Loss before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.

(b) Included interest on tax deficiencies and interest on discontinued operations.

(c) Considered to be representative of interest factor in rental expense.

EX-31.A

Exhibit 31(a)

Certification Pursuant to

Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, Keith S. Sherin, certify that:
1.	I have reviewed this quarterly report on Form 10-Q of General Electric Capital Corporation;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 30, 2015

/s/ Keith S. Sherin

Keith S. Sherin

Chief Executive Officer

EX-31.B

Exhibit 31(b)

Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, Robert C. Green, certify that:
1.	I have reviewed this quarterly report on Form 10-Q of General Electric Capital Corporation;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 30, 2015

/s/ Robert C. Green

Robert C. Green

Chief Financial Officer

EX-32

Exhibit 32

Certification Pursuant to 18 U.S.C. Section 1350

In connection with the Quarterly Report of General Electric Capital Corporation (the "registrant") on Form 10-Q for the period ended September 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the "report"), we, Keith S. Sherin and Robert C. Green, Chief Executive Officer and Chief Financial Officer, respectively, of the registrant, certify, pursuant to 18 U.S.C. § 1350, that to our knowledge: 

(1)	The report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
(2)	The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

October 30, 2015

/s/ Keith S. Sherin

Keith S. Sherin Chief Executive Officer

/s/ Robert C. Green

Robert C. Green Chief Financial Officer

EX-99

EXHIBIT 99

GENERAL ELECTRIC CAPITAL CORPORATION AND CONSOLIDATED AFFILIATES

FINANCIAL MEASURES THAT SUPPLEMENT U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES MEASURES (NON-GAAP FINANCIAL MEASURES)

We sometimes use information derived from consolidated financial information but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered "non-GAAP financial measures" under U.S. Securities and Exchange Commission rules. Specifically, we have referred to GE Capital ending net investment (ENI), excluding liquidity

The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures follow.

GE CAPITAL ENDING NET INVESTMENT (ENI), EXCLUDING LIQUIDITY
(In billions)	September 30, 2015
GECC total assets	$	433.8
Less assets of discontinued operations		121.9
Less non-interest bearing liabilities		50.3
GE Capital ENI		261.6
Less liquidity(a)		85.5
GE Capital ENI, excluding liquidity	$	176.1

(a) Liquidity includes cash and equivalents and $3.2 billion of debt obligations of the U.S. Treasury at September 30, 2015.

GE uses ENI to measure the size of its GE Capital segment. GE believes that this measure is a useful indicator of the capital (debt or equity) required to fund a business as it adjusts for non-interest bearing current liabilities generated in the normal course of business that do not require a capital outlay. GE also believes that by excluding liquidity, it provides a meaningful measure of assets requiring capital to fund its GE Capital segment as a substantial amount of liquidity resulted from debt issuances to pre-fund future debt maturities and will not be used to fund additional assets. Liquidity consists of cash and equivalents and certain debt obligations of the U.S. Treasury. As a general matter, investments included in liquidity are expected to be highly liquid, giving us the ability to readily convert them to cash. Providing this measure will help investors measure how we are performing against our previously communicated goal to reduce the size of our financial services segment.

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Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations (Financing Receivables Held for Sale) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Balance sheet [line items]
Receivables Held for Sale	[1]	$ 23,665		$ 23,665		$ 778
Provision for losses on financing receivables	[1]	738	$ 858	4,636	$ 2,693
Nonaccrual loans		306		306		1,996
Held for sale
Balance sheet [line items]
Receivables Held for Sale		23,665		23,665		778
Allowance For Loan And Lease Losses Write Offs				2,859
Provision for losses net of tax				2,197
CLL
Balance sheet [line items]
Nonaccrual loans		27		27		25
CLL | Held for sale
Balance sheet [line items]
Receivables Held for Sale		833		833		357
Energy Financial Services
Balance sheet [line items]
Nonaccrual loans		82		82		68
Energy Financial Services | Held for sale
Balance sheet [line items]
Receivables Held for Sale		0		0		35
GE Capital Aviation Services (GECAS) | Held for sale
Balance sheet [line items]
Receivables Held for Sale		14		14		27
Commercial
Balance sheet [line items]
Nonaccrual loans		304		304		512
Commercial | Held for sale
Balance sheet [line items]
Receivables Held for Sale		952		952		419
Over 30 days past due		6		6
Nonaccrual loans		6		6
Consumer
Balance sheet [line items]
Nonaccrual loans		2		2		1,484
Consumer | Held for sale
Balance sheet [line items]
Receivables Held for Sale		22,713		22,713		359
Over 30 days past due		1,060		1,060
Nonaccrual loans		634		634
Other | Held for sale
Balance sheet [line items]
Receivables Held for Sale		$ 105		$ 105		$ 0

[1] Amounts may not add due to rounding.

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Acquisitions, Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2012
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		$ 3,146		$ 3,146		$ 2,933
Accumulated amortization		(1,971)		(1,971)		(2,058)
Net		1,177		1,177		875
Intangible Assets, Net (Excluding Goodwill)	[1]	1,177		1,177		875
Increase (Decrease) in Intangible Assets, Current				302		353
Amortization expense		74	$ 69	239	$ 198		$ 0
Adjustment To Present Value Of Future Profits In Run Off Insurance Operation		272		272		293
Goodwill Dispositions, currency exchange and other				724
Customer Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		1,139		1,139		926
Accumulated amortization		(501)		(501)		(489)
Net		638		638		437
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		947		947		1,228
Accumulated amortization		(675)		(675)		(843)
Net		272		272		385
Lease valuations
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		107		107		0
Accumulated amortization		(16)		(16)		0
Net		92		92		0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		38		38		22
Accumulated amortization		(7)		(7)		(12)
Net		32		32		10
Patentts and technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		9		9		9
Accumulated amortization		(7)		(7)		(6)
Net		3		3		3
PVFP
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		643		643		614
Accumulated amortization		(643)		(643)		(614)
Net		0		0		0
All other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		263		263		134
Accumulated amortization		(122)		(122)		(94)
Net		$ 141		$ 141		$ 40

[1] Amounts may not add due to rounding.

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Financing Receivables and Allowance for Losses (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financing Receivable [Line Items]
Financing receivables, net of deferred income		$ 87,204	$ 87,204	$ 126,561
Allowance for losses		(3,457)	(3,457)	(4,104)	$ (4,231)	$ (4,025)
Financing receivables, net	[1]	83,748	83,748	122,457
Financing receivable held for sale		0	29,016
Assets of Businesses Held for Sale [Member]
Financing Receivable [Line Items]
Financing receivable held for sale		0	5,508
Loans Receivables [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		82,196	82,196	120,007
Financing Receivable [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		$ 5,008	$ 5,008	$ 6,554

[1] Amounts may not add due to rounding.

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Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financial Instruments [Line Items]
Effect of including interest rate and currency derivatives on borrowings and bank deposits	$ 4,710	$ 5,020
Reinsurance Recoverables	0	964
Loan Commitments By Notional Amount [Line Items]
Ordinary course of business lending commitments	804	1,214
Excluded investment commitments	579	818
Inventory financing arrangements excluded	39	47
Commercial [Member]
Loan Commitments By Notional Amount [Line Items]
Unused revolving credit lines	2,054	2,908
Consumer Principally Credit Cards [Member]
Loan Commitments By Notional Amount [Line Items]
Unused revolving credit lines	321,710	306,188
Loan Commitments By Notional Amount [Member]
Financial Instruments [Line Items]
Notional Amount Of Life Insurance Benefit Net	0	1,843
Carrying amount (net) [Member]
Financial Instruments [Line Items]
Loans	78,775	115,889
Other commercial mortgages	1,392	1,427
Loans held for sale	22,651	778
Other financial instruments	161	122
Borrowings and bank deposits	(271,944)	(317,674)
Investment contract benefits	(2,821)	(2,970)
Guaranteed investment contracts	(179)	(1,000)
Liability for Future Policy Benefits, Life	0	(90)
Estimate of Fair Value Measurement [Member]
Financial Instruments [Line Items]
Loans	85,107	120,067
Other commercial mortgages	1,520	1,508
Loans held for sale	23,039	799
Other financial instruments	195	136
Borrowings and bank deposits	(283,092)	(333,956)
Investment contract benefits	(3,327)	(3,565)
Guaranteed investment contracts	(193)	(1,031)
Liability for Future Policy Benefits, Life	0	(77)
Accrued interest	$ 1,994	$ 2,888

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Borrowings and Bank Deposits (Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Borrowings And Bank Deposits [Line Items]
Short-term borrowings	$ 42,880	$ 67,705
Long-term borrowings (Note 6)	164,183	186,759
Non Recourse Borrowings Of Consolidated Securitization Entities	16,225	19,369
Deposits	48,656	43,841
Non-recourse	1,216	1,183
Guaranteed investment contracts [Member]
Borrowings And Bank Deposits [Line Items]
Short-term and long-term borrowings	431	$ 439
Commercial Paper [Member] | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Short-term borrowings	12,914
Current Portion Of Long Term Borrowings [Member] | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Short-term borrowings	28,373
Senior unsecured notes [Member] | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	131,230
Subordinated notes [Member] | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	3,971
Subordinated debentures | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	6,782
Other Long Term Borrowing [Member] | Financial Guarantee by GE [Member]
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	$ 400

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Variable Interest Entities (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Variable Interest Entity [Line Items]
Financing Receivable, Net	[1]	$ 83,748		$ 83,748		$ 122,457
Investment securities	[1]	36,868		36,868		38,320
Other Assets	[1]	19,155		19,155		23,198
Non Recourse Borrowings		1,216		1,216		1,183
Other Liabilities	[1]	11,330		11,330		9,549
Total revenues	[1]	6,312	$ 6,384	17,452	$ 19,223
Provision for Loan and Lease Losses	[1]	738	858	4,636	2,693
Interest expense	[1]	1,151	1,061	3,096	3,184
Consolidated VIE
Variable Interest Entity [Line Items]
Financing Receivable, Net		27,701		27,701		29,703
Investment securities		1,412		1,412		3,374
Other Assets		1,275		1,275		2,475
Assets VIE		30,388		30,388		35,552
Borrowings		986		986		513
Non Recourse Borrowings		16,225		16,225		18,095
Other Liabilities		1,367		1,367		2,509
Liabilities VIE		18,578		18,578		21,117
Total revenues		1,410	1,593	4,313	4,350
Provision for Loan and Lease Losses		189	244	714	791
Interest And Other Financial Charges				208	$ 195
Interest expense		75	$ 69
Consolidated VIE | Appliances [Member]
Variable Interest Entity [Line Items]
Current receivables		724		724		686
Trinity [Member]
Variable Interest Entity [Line Items]
Financing Receivable, Net		0		0		0
Investment securities		401		401		2,369
Other Assets		45		45		17
Assets VIE		446		446		2,386
Borrowings		0		0		0
Non Recourse Borrowings		0		0		0
Other Liabilities		193		193		1,022
Liabilities VIE		193		193		1,022
Commingled cash amounts owed to CSEs		939		939		1,091
Commingled cash receivable from CSEs		170		170		391
Consolidated Securitization Entities [Member]
Variable Interest Entity [Line Items]
Intercompany Advances Eliminated In Consolidation		15		15		1,565
Credit Card Receivable [Member]
Variable Interest Entity [Line Items]
Financing Receivable, Net		24,036		24,036		25,645
Investment securities		0		0		0
Other Assets		144		144		1,059
Assets VIE		24,180		24,180		26,704
Borrowings		0		0		0
Non Recourse Borrowings		13,640		13,640		14,967
Other Liabilities		20		20		332
Liabilities VIE		13,660		13,660		15,299
Trade Accounts Receivable [Member]
Variable Interest Entity [Line Items]
Financing Receivable, Net		3,134		3,134		3,028
Investment securities		0		0		0
Other Assets		2		2		2
Assets VIE		3,136		3,136		3,030
Borrowings		0		0		0
Non Recourse Borrowings		2,516		2,516		2,692
Other Liabilities		28		28		26
Liabilities VIE		2,544		2,544		2,718
Other
Variable Interest Entity [Line Items]
Financing Receivable, Net		531		531		1,030
Investment securities		1,011		1,011		1,005
Other Assets		1,084		1,084		1,397
Assets VIE		2,626		2,626		3,432
Borrowings		986		986		513
Non Recourse Borrowings		69		69		436
Other Liabilities		1,126		1,126		1,129
Liabilities VIE		2,181		2,181		$ 2,078
JV that lease equipment [Member]
Variable Interest Entity [Line Items]
Assets VIE		466		466
Liabilities VIE		466		466
Entities involved in power generation and leasing [Member]
Variable Interest Entity [Line Items]
Assets VIE		331		331
Liabilities VIE		187		187
Insurance activities [Member]
Variable Interest Entity [Line Items]
Assets VIE		1,126		1,126
Liabilities VIE		$ 564		$ 564

[1] Amounts may not add due to rounding.

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Investment Securities (Contractual maturities) (Details) $ in Millions	Sep. 30, 2015 USD ($)
Amortized Cost
Within one year	$ 2,162
After one year through five years	4,656
After five years through ten years	4,854
After ten years	17,921
Estimated Fair Value
Within one year	2,171
After one year through five years	4,868
After five years through ten years	5,217
After ten years	$ 20,983

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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2015

Variable Interest Entities [Abstract]

Schedule of VIE

ASSETS AND LIABILITIES OF CONSOLIDATED VIEs
				Consolidated Securitization Entities(b)
				Credit		Trade
(In millions)	Trinity		(a)	cards		receivables			Other		Total
September 30, 2015
Assets(c)
Financing receivables, net	$	-		$	24,036	$	3,134	(d)	$	531	$	27,701
Investment securities		401			-		-			1,011		1,412
Other assets		45			144		2			1,084		1,275
Total	$	446		$	24,180	$	3,136		$	2,626	$	30,388
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	986	$	986
Non-recourse borrowings		-			13,640		2,516			69		16,225
Other liabilities		193			20		28			1,126		1,367
Total	$	193		$	13,660	$	2,544		$	2,181	$	18,578
December 31, 2014
Assets(c)
Financing receivables, net	$	-		$	25,645	$	3,028	(d)	$	1,030	$	29,703
Investment securities		2,369			-		-			1,005		3,374
Other assets		17			1,059		2			1,397		2,475
Total	$	2,386		$	26,704	$	3,030		$	3,432	$	35,552
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	513	$	513
Non-recourse borrowings		-			14,967		2,692			436		18,095
Other liabilities		1,022			332		26			1,129		2,509
Total	$	1,022		$	15,299	$	2,718		$	2,078	$	21,117

(a) Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $15 million and $1,565 million at September 30, 2015and December 31, 2014, respectively.

(b)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 September 30, 2015and December 31, 2014, the amounts of commingled cash owed to the CSEs were $939 million and $1,091million, respectively, and the amounts owed to us by CSEs were $170 million and $391 million, respectively.

(c)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.

(d)Included $724 million and $686 million of receivablesat September 30, 2015and December 31, 2014, respectively, originated by GE Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received.

Unconsolidated VIE

INVESTMENTS IN UNCONSOLIDATED VIEs
(In millions)	September 30, 2015		December 31, 2014
Other assets and investment securities	$	601	$	632
Financing receivables – net		10		120
Total investments		611		752
Contractual obligations to fund investments, guarantees or revolving lines of credit		85		27
Total	$	696	$	779

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Variable Interest Entities (Unconsolidated Variable Interest Entities) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Financing Receivable, Net	[1]	$ 83,748	$ 122,457
Investment in Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Other assets and investment securities		601	632
Financing Receivable, Net		10	120
Total investment		611	752
Contractual obligations to fund new investments or guarantees		85	27
Total		$ 696	$ 779

[1] Amounts may not add due to rounding.

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Financial Instruments (Fair value hedges) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair value hedges
Gain (loss) on derivatives				$ (603.0)
Hedge ineffectiveness gain (loss)	$ 3.0	$ (9.0)	$ (82.0)	(74.0)
Interest Rate Contract
Fair value hedges
Gain (loss) on derivatives			(101.0)
Interest Rate Contract | Fair Value Hedges [Member]
Fair value hedges
Gain (loss) on derivatives	1,391.0	341.0	514.0	2,056.0
Gain (loss) on hedged items	(1,387.0)	(350.0)	(594.0)	(2,129.0)
Foreign Exchange Contract
Fair value hedges
Gain (loss) on derivatives			(2,486.0)
Foreign Exchange Contract | Fair Value Hedges [Member]
Fair value hedges
Gain (loss) on derivatives	(6.0)	(8.0)	(6.0)	(11.0)
Gain (loss) on hedged items	$ 5.0	$ 8.0	$ 4.0	$ 10.0

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Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Unrecognized tax benefits		$ 2,957	$ 2,957		$ 3,055
Portion that, if recognized, would reduce tax expense and effective tax rate		2,215	2,215		2,259
Accrued interest on unrecognized tax benefits		359	359		420
Accrued penalties on unrecognized tax benefits		35	35		34
Deferred income tax expense (benefit)	[1]		2,772	$ (689)
GE Capital Exit Plan [Member]
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		6,335	355
Income tax reconciliation repatriation of foreign earnings		3,674	125
Income tax reconciliation change		230	2,661
Foreign cash in excess of normal operating		36,000	36,000
Lower Limit
Income Tax Disclosure [Line Items]
Portion that, if recognized, would reduce tax expense and effective tax rate		0	0		0
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months		0	0		0
Upper Limit
Income Tax Disclosure [Line Items]
Portion that, if recognized, would reduce tax expense and effective tax rate		0	0		600
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months		$ 0	$ 0		$ 50

[1] Amounts may not add due to rounding.

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Financial Instruments (Free-standing derivatives) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Free standing derivatives
Gain (loss) on derivatives		$ (603)
Free Standing Derivatives [Member]
Free standing derivatives
Gain (loss) on derivatives	$ (2,585)
Interest Rate Contract
Free standing derivatives
Gain (loss) on derivatives	(101)
Interest Rate Contract | Free Standing Derivatives [Member]
Free standing derivatives
Gain (loss) on derivatives		(53)
Foreign Exchange Contract
Free standing derivatives
Gain (loss) on derivatives	(2,486)
Foreign Exchange Contract | Free Standing Derivatives [Member]
Free standing derivatives
Gain (loss) on derivatives		(553)
Other Contract [Member]
Free standing derivatives
Gain (loss) on derivatives	$ 2	$ 3

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Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables (Impaired Loans) (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Impaired Loans
Recorded investment in loans with no specific allowance	$ 209		$ 209	$ 530
Unpaid principal balance with no specific allowance	233		233	580
Average investment with no specific allowance	313			241
Recorded investment in loans with a specific allowance	741		741	2,062
Unpaid principal balance with a specific allowance	645		645	2,112
Allowance for losses (specific reserves)	245		245	424
Average investment with a specific allowance	1,066			2,591
Non-impaired financing receivables	86,254		86,254	123,969
General reserves	3,212		3,212	3,680
Impaired loans	950		950	2,592
Impaired loans classified as Troubled debt restructuring (TDR)	860		860
Discounted Cash Flow Method [Member]
Impaired Loans
Impaired loans	819		819	2,149
Collateral Value Method [Member]
Impaired Loans
Impaired loans	131		131	443
CLL [Member]
Impaired Loans
Recorded investment in loans with no specific allowance	11		11	10
Unpaid principal balance with no specific allowance	11		11	10
Average investment with no specific allowance	11			7
Recorded investment in loans with a specific allowance	5		5	5
Unpaid principal balance with a specific allowance	5		5	5
Allowance for losses (specific reserves)	3		3	4
Average investment with a specific allowance	5			4
Impaired loans classified as Troubled debt restructuring (TDR)	5		5
Energy Financial Services [Member]
Impaired Loans
Recorded investment in loans with no specific allowance	82		82	53
Unpaid principal balance with no specific allowance	100		100	54
Average investment with no specific allowance	54			26
Recorded investment in loans with a specific allowance	0		0	15
Unpaid principal balance with a specific allowance	0		0	15
Allowance for losses (specific reserves)	0		0	12
Average investment with a specific allowance	6			24
Impaired loans classified as Troubled debt restructuring (TDR)	7		7
GECAS
Impaired Loans
Recorded investment in loans with no specific allowance	116		116	329
Unpaid principal balance with no specific allowance	122		122	337
Average investment with no specific allowance	213			88
Recorded investment in loans with a specific allowance	0		0	0
Unpaid principal balance with a specific allowance	0		0	0
Allowance for losses (specific reserves)	0		0	0
Average investment with a specific allowance	0			15
Impaired loans classified as Troubled debt restructuring (TDR)	112		112
Commercial [Member]
Impaired Loans
Recorded investment in loans with no specific allowance	209		209	392
Unpaid principal balance with no specific allowance	233		233	401
Average investment with no specific allowance	278			121
Recorded investment in loans with a specific allowance	5		5	20
Unpaid principal balance with a specific allowance	5		5	20
Allowance for losses (specific reserves)	3		3	16
Average investment with a specific allowance	11			44
Average investment in loans	289			165
Interest income recognized	0	$ 0		0
Interest income recognized on a cash basis	0	0		0
Non-impaired financing receivables	23,470		23,470	25,329
General reserves	82		82	77
Impaired loans	214		214	412
Consumer [Member]
Impaired Loans
Recorded investment in loans with no specific allowance	0		0	138
Unpaid principal balance with no specific allowance	0		0	179
Average investment with no specific allowance	35			120
Recorded investment in loans with a specific allowance	736		736	2,042
Unpaid principal balance with a specific allowance	640		640	2,092
Allowance for losses (specific reserves)	242		242	408
Average investment with a specific allowance	1,055			2,547
Average investment in loans	1,090			2,667
Interest income recognized	48	135		126
Interest income recognized on a cash basis	1	3		5
Non-impaired financing receivables	62,784		62,784	98,640
General reserves	3,130		3,130	3,603
Impaired loans	736		736	2,180
Impaired loans classified as Troubled debt restructuring (TDR)	736		736	2,132
Changes In Loans Modified As Troubled Debt Restructurings	363		621		$ 1,074
Loans Modified As Troubled Debt Restructuring That Have Subsequently Experienced Payment Default	49	$ 95
Other Commercial [Member]
Impaired Loans
Recorded investment in loans with no specific allowance	0		0	0
Unpaid principal balance with no specific allowance	0		0	0
Average investment with no specific allowance	0			0
Recorded investment in loans with a specific allowance	0		0	0
Unpaid principal balance with a specific allowance	0		0	0
Allowance for losses (specific reserves)	0		$ 0	0
Average investment with a specific allowance	$ 0			$ 1

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Financial Instruments (Counterparty credit risk) (Details) $ in Millions	Sep. 30, 2015 USD ($)
Counterparty credit risk
Total Collateral Received	$ 4,354
Fair value of collateral posted to counterparties for derivative obligations	895
Exposure To Counterparties Including Interest Net Collateral Excluding Derivatives	674
Cash [Member]
Counterparty credit risk
Total Collateral Received	2,844
Securities Held By Third Parties [Member]
Counterparty credit risk
Securities Held as Collateral, at Fair Value	$ 1,510

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Financial Instruments (Securities Repurchase and Reverse Repurchase Arrangements) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)
Financial Instruments [Line Items]
Reverse Repurchase Agreements Maturities	P90D
Short-term borrowings
Financial Instruments [Line Items]
Securities for Reverse Repurchase Agreements	$ 132
Cash and cash equivalents
Financial Instruments [Line Items]
Securities for Reverse Repurchase Agreements	$ 10,000

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Financing Receivables and Allowance for Losses on Financing Receivables (Tables)

9 Months Ended

Sep. 30, 2015

Financing Receivables And Allowance For Losses On Financing Receivables [Abstract]

Financing Receivables

FINANCING RECEIVABLES, NET
(In millions)	September 30, 2015		December 31, 2014
Loans, net of deferred income	$	82,196	$	120,007
Investment in financing leases, net of deferred income		5,008		6,554
		87,204		126,561
Allowance for losses		(3,457)		(4,104)
Financing receivables – net	$	83,748	$	122,457

Schedule Of Financing Receivables By Portfolio

FINANCING RECEIVABLES
(In millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	13,341	(a)	$	14,418
Energy Financial Services		2,443			2,580
GE Capital Aviation Services (GECAS)		7,394			8,263
Other		506			480
Total Commercial		23,684			25,741
Consumer		63,520	(b)		100,820
Total financing receivables		87,204			126,561
Allowance for losses		(3,457)	(b)		(4,104)
Total financing receivables – net	$	83,748		$	122,457

• Includes Healthcare Equipment Finance and Working Capital Solutions, which purchases GE customer receivables.
• Includes Synchrony Financial, our U.S. consumer business.

Schedule of allowance for losses

ALLOWANCE FOR LOSSES
			Provision
	Balance at		charged to					Gross						Balance at
(In millions)	January 1		operations(a)		Other		(b)	write-offs		(a)(c)	Recoveries		(c)	September 30
2015
Commercial
CLL	$	21	$	20	$	-		$	(15)		$	6		$	32
Energy Financial Services		26		16		-			(29)			1			14
GECAS		46		(11)		-			(1)			3			37
Other		-		15		-			(13)			-			2
Total Commercial		93		40		-			(58)			10			85
Consumer		4,011		4,596		(252)			(5,622)			639			3,372
Total	$	4,104	$	4,636	$	(252)		$	(5,680)		$	649		$	3,457

2014
Commercial
CLL	$	17	$	8	$	(1)	$	(11)	$	7	$	20
Energy Financial Services		8		13		-		(17)		2		6
GECAS		17		9		-		(11)		-		15
Other		2		-		(2)		-		-		-
Total Commercial		44		30		(3)		(39)		9		41
Consumer		3,981		2,663		(120)		(3,203)		869		4,190
Total	$	4,025	$	2,693	$	(123)	$	(3,242)	$	878	$	4,231

• Provision charged to operations included $2,405 million and gross write-offs included $2,859 million related to the effects of the 2015 reclassification of non-U.S. consumer financing receivables to financing receivables held for sale recorded at the lower of cost or fair value, less cost to sell.
• Other primarily includes the reclassification of financing receivables to assets of businesses held for sale and the effects of currency exchange.
• Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.

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Financing Receivables and Allowance for Losses (Portfolio) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financing Receivable [Line Items]
Financing receivables, net of deferred income		$ 87,204	$ 126,561
Allowance for losses		(3,457)	(4,104)	$ (4,231)	$ (4,025)
Financing Receivable, Net	[1]	83,748	122,457
CLL [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		13,341	14,418
Allowance for losses		(32)	(21)	(20)	(17)
Energy Financial Services [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		2,443	2,580
Allowance for losses		(14)	(26)	(6)	(8)
GECAS [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		7,394	8,263
Allowance for losses		(37)	(46)	(15)	(17)
Other Commercial [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		506	480
Allowance for losses		(2)	0	$ 0	$ (2)
Consumer Portfolio Segment [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		63,520	100,820
Commercial [Member]
Financing Receivable [Line Items]
Financing receivables, net of deferred income		$ 23,684	$ 25,741

[1] Amounts may not add due to rounding.

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Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations (Rollforward) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Financial Information For Discontinued Operations [Line Items]
Earnings (loss) from discontinued operations, net of taxes	[1]	$ (347)	$ 706	$ (10,332)	$ 2,070
WMC
Financial Information For Discontinued Operations [Line Items]
Reserve, beginning of period		825	549	809	800	$ 800
Provision		28	40	46	142
Reserve, ending of period		832	588	832	588	809
Pending claims, beginning of period				3,694
New claims				8,411		9,225
Claim resolutions		(21)	$ (1)	(23)	$ (354)
Pending claims, ending of period		$ 3,468		$ 3,468		$ 3,694

[1] Amounts may not add due to rounding.

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Financial Instruments (Net investment hedges in foreign operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net investment hedges in foreign operation
Hedge ineffectiveness gain (loss)	$ 3	$ (9)	$ (82)	$ (74)
Foreign Exchange Contract | Net Investment Hedge [Member]
Net investment hedges in foreign operation
Gain (loss) recognized in AOCI	1,311	2,792	4,749	2,194
Gain (loss) reclassified from AOCI into earnings	1,935	(24)	2,524	(14)
Currency Translation Adjustment [Member] | Net Investment Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Net investment hedges in foreign operation
Hedge ineffectiveness gain (loss)	$ (37)	$ (147)	$ (93)	$ (458)

XML

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsidiary, Sale of Stock [Line Items]
Guarantee Obligations Current Carrying Value GECC		$ 183,670		$ 183,670
Restructuring Cost And Reserve [Line Items]
Losses from discontinued operations, net of tax	[1]	(347)	$ 706	(10,332)	$ 2,070
Discontinued operations [Member]
Restructuring Cost And Reserve [Line Items]
Losses from discontinued operations, net of tax		(347)	706	(10,332)	2,070
Discontinued operations [Member] | CLL
Restructuring Cost And Reserve [Line Items]
Losses from discontinued operations, net of tax		(461)	$ 483	(8,198)	$ 1,399
GE Capital Exit Plan [Member]
Restructuring Cost And Reserve [Line Items]
Losses from discontinued operations, net of tax				9,756
Restructuring Charges [Abstract]
Restructuring charges after-tax		362		21,061
Income tax reconciliation repatriation of foreign earnings		$ 3,674		$ 125
Restructuring And Related Activities Initiation Date				Apr. 10, 2015
Restructuring And Related Activities Authorized Approval				2-Apr-15
GE Capital Exit Plan [Member] | Restructuring Charges [Member]
Restructuring Charges [Abstract]
Income tax reconciliation repatriation of foreign earnings				$ 6,209
Asset Impairment Charges				4,666
Other restructuring charges				430
GE Capital Exit Plan [Member] | Restructuring Charges [Member] | Discontinued operations [Member] | CLL
Restructuring Charges [Abstract]
Asset Impairment Charges				1,515
Other restructuring charges				93
GE Capital Exit Plan [Member] | Restructuring Charges [Member] | Continuing operations | Consumer
Restructuring Charges [Abstract]
Income tax reconciliation repatriation of foreign earnings				152
Asset Impairment Charges				3,151
GE Capital Exit Plan [Member] | Restructuring Charges [Member] | Continuing operations | GECC Corporate
Restructuring Charges [Abstract]
Income tax reconciliation repatriation of foreign earnings				6,057
Other restructuring charges				$ 337

[1] Amounts may not add due to rounding.

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Acquisitions, Goodwill and Other Intangible Assets (Goodwill) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Jan. 30, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill, Period Increase (Decrease)		$ 4
Intangible assets subject to amortization		1,177			$ 875
Goodwill	[1]	11,460			11,456
Payments to Acquire Businesses, Net of Cash Acquired	[1]	$ 1,677	$ 0
Upper Limit
Goodwill [Line Items]
Discount Rate		11.00%
Lower Limit
Goodwill [Line Items]
Discount Rate		10.40%
Milestone
Goodwill [Line Items]
Estimated Purchase Price To Aquire Business Net Of Cash Acquired				$ 1,750
Intangible assets subject to amortization				345
Goodwill				$ 730
Discontinued operations
Goodwill [Line Items]
Goodwill		$ 9,867			13,569
CLL
Goodwill [Line Items]
Goodwill		111			25
Consumer
Goodwill [Line Items]
Goodwill		9,088			9,777
Energy Financial Services
Goodwill [Line Items]
Goodwill		1,386			1,507
GECAS
Goodwill [Line Items]
Goodwill		$ 876			$ 147

[1] Amounts may not add due to rounding.

XML

Fair Value Measurements (Changes in Level 3 Instruments) (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance			$ 2,594
Changes in Level 3, ending balance	$ 2,689		2,689
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	3,855	$ 4,130	3,948	$ 3,878
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	4	8	7	46
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	9	9	(65)	216
Purchases	75	103	254	453
Sales	(28)	(56)	(171)	(284)
Settlements	(44)	(124)	(118)	(215)
Transfers into Level 3	41	41	83	181
Transfers out of Level 3	(69)	(48)	(95)	(212)
Changes in Level 3, ending balance	3,842	4,063	3,842	4,063
Net change in unrealized gains (losses) relating to instruments still held	0	2	0	12
Fair Value, Measurements, Recurring | Derivatives Assets And Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	71	22	28	19
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	1	3	0	7
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	1	3	1
Purchases	1	(1)	0	(1)
Sales	0	0	0	0
Settlements	0	(1)	0	(1)
Transfers into Level 3	0	0	42	(1)
Transfers out of Level 3	0	0	0	0
Changes in Level 3, ending balance	72	24	72	24
Net change in unrealized gains (losses) relating to instruments still held	0	2	0	12
Cash Accruals Not Included In Schedule Assets Measured For Fair Value On Recurring Basis	12	9	12	9
Fair Value, Measurements, Recurring | Retained Interest [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance		1		1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings		0		0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income		0		0
Purchases		0		0
Sales		0		0
Settlements		(1)		(1)
Transfers into Level 3		0		0
Transfers out of Level 3		0		0
Changes in Level 3, ending balance		0		0
Net change in unrealized gains (losses) relating to instruments still held		0		0
Fair Value, Measurements, Recurring | Other Assets And Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings		0		0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income		0		0
Purchases		0		0
Sales		0		0
Settlements		0		0
Transfers into Level 3		0		0
Transfers out of Level 3		0		0
Changes in Level 3, ending balance		0		0
Net change in unrealized gains (losses) relating to instruments still held	0	0		0
Fair Value, Measurements, Recurring | Domestic Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	3,019	3,032	3,044	2,751
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	5	4	16	22
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	(7)	(1)	(93)	126
Purchases	74	102	248	440
Sales	(28)	(56)	(83)	(212)
Settlements	(37)	(90)	(93)	(158)
Transfers into Level 3	35	32	35	170
Transfers out of Level 3	(14)	0	(27)	(116)
Changes in Level 3, ending balance	3,046	3,023	3,046	3,023
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	101	110	115	96
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	0	0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	1	2	(3)	9
Purchases	0	2	0	12
Sales	0	0	0	0
Settlements	(5)	(1)	(15)	(4)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(17)	0	(17)	0
Changes in Level 3, ending balance	81	113	81	113
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Residential Mortgage Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	2	66	16	86
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	5	1
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	0	(4)	0
Purchases	0	0	0	0
Sales	0	0	(15)	(16)
Settlements	(1)	(3)	(1)	(8)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	(47)	0	(47)
Changes in Level 3, ending balance	2	16	2	16
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	2	11	9	10
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	0	0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	(7)	0
Settlements	0	(1)	0	(2)
Transfers into Level 3	0	0	0	2
Transfers out of Level 3	0	0	0	0
Changes in Level 3, ending balance	1	10	1	10
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Asset-backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	76	130	123	145
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(2)	1	(16)	3
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	2	(5)	6
Purchases	0	0	0	0
Sales	0	0	(12)	0
Settlements	0	(4)	(3)	(15)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(36)	0	(49)	(10)
Changes in Level 3, ending balance	38	129	38	129
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Foreign Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	283	499	336	503
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	0	13
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	(1)	(4)	42
Purchases	0	0	0	0
Sales	0	0	(49)	(54)
Settlements	(1)	(23)	(1)	(24)
Transfers into Level 3	0	0	0	1
Transfers out of Level 3	0	0	0	(6)
Changes in Level 3, ending balance	282	475	282	475
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Foreign Government Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	2	1	2	31
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	0	0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(2)	(1)	(2)	(31)
Changes in Level 3, ending balance	0	0	0	0
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | US Treasury and Government [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	293	249	266	225
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	0	0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	16	6	44	32
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	(1)	0
Transfers into Level 3	0	9	0	9
Transfers out of Level 3	0	0	0	(2)
Changes in Level 3, ending balance	309	264	309	264
Net change in unrealized gains (losses) relating to instruments still held	0	0	0	0
Fair Value, Measurements, Recurring | Available-for-sale Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Level 3, beginning balance	6	9	9	11
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0	2	0
Net realized/unrealized gains (losses) included in accumulated other comprehensive income	(1)	0	(3)	0
Purchases	0	0	6	2
Sales	0	0	(5)	(2)
Settlements	0	0	(4)	(2)
Transfers into Level 3	6	0	6	0
Transfers out of Level 3	0	0	0	0
Changes in Level 3, ending balance	10	9	10	9
Net change in unrealized gains (losses) relating to instruments still held	$ 0	$ 0	$ 0	$ 0

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Shareowners' Equity (Reclass Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes	[1]	$ 48	$ 15	$ 6,164	$ (109)
Net earnings (loss)	[1]	470	1,604	(17,459)	5,398
Costs and Expenses	[1]	(5,542)	(5,501)	(18,415)	(16,004)
Financial Services Revenue	[1]	6,290	6,356	17,388	19,134
Interest expense	[1]	1,151	1,061	3,096	3,184
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	[1]	769	883	(963)	3,219
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net earnings (loss)		(813)	(375)	(1,606)	(502)
Investment Securities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(20)	(15)	(50)	(19)
Net earnings (loss)		23	19	76	32
Financial Services Revenue		42	34	126	51
Investment Securities [Member] | Discontinued operations [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(15)	(15)	(21)	(13)
Financial Services Revenue		28	40	45	34
Currency Translation Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(628)	1	(779)	124
Currency Translation Adjustment [Member] | Discontinued operations [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(628)	0	(764)	123
Costs and Expenses		(104)	1	(102)	(128)
Currency Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(628)	1	(779)	124
Net earnings (loss)		(732)	14	(1,039)	8
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		14	27	69	40
Interest And Other Financial Charges		(75)	(377)	(600)	(387)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Income (Expense), Net		(39)	(53)	(100)	(182)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Foreign Exchange Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Income (Expense), Net		(28)	(20)	(13)	(19)
Financial Services Revenue		(47)	(357)	(587)	(368)
Benefit Plans Adj [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Benefit (provision) for income taxes		(1)	(2)	(5)	(6)
Net earnings (loss)		(4)	(4)	(12)	(13)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest		(5)	(6)	(17)	(19)
Defined Benefit Plan, Amortization of Gains (Losses)		(5)	(6)	(18)	(18)
Prior service cost amortization		$ 0	$ 0	$ 1	$ (1)

[1] Amounts may not add due to rounding.

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Investment Securities (Gross Realized Gain Losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Gains	$ 21	$ 1	$ 122	$ 37
Losses, including impairments	(6)	(5)	(41)	(18)
Total	15	(4)	81	19
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds	$ 6,022	$ 623	9,322	$ 1,995
Trinity [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds			$ 6,486

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Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations

9 Months Ended

Sep. 30, 2015

Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations [Abstract]

Assets and Liabilities Of Business Held For Sale and Discontinued Operations

Note 2. BUSINESSES HELD FOR SALE, FINANCING RECEIVABLES HELD FOR SALE AND DISCONTINUED OPERATIONS

Assets and Liabilities of Businesses Held for Sale

In the first quarter of 2015, we signed an agreement to sell our consumer finance business in Australia and New Zealand (ANZ Consumer Lending) for approximately 6,800million Australian dollars and 1,400million New Zealand dollars, respectively. On May 29, 2015, we sold a portion of the Australian business for gross proceeds of $671million. As of September 30, 2015, ANZ Consumer Lending had assets and liabilities of $4,917million and $260million, respectively. The sale is targeted to close in 2015 with expected proceeds of approximately 6,000million Australian dollars and 1,400million New Zealand dollars. The transactions remain subject to customary closing conditions and regulatory approvals.

In the fourth quarter of 2014, we signed an agreement to sell our consumer finance business Budapest Bank to Hungary’s government. On June 29, 2015 we completed the sale of Budapest Bank for proceeds of $700 million.

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	299	$	676
Investment securities		-		448
Financing receivables – net		4,141		2,144
Property, plant and equipment – net		15		37
Goodwill		366		106
Other intangible assets – net		73		13
Other		23		50
Assets of businesses held for sale	$	4,917	$	3,474
Liabilities
Short-term borrowings	$	27	$	435
Bank deposits		-		1,931
Deferred income taxes		(123)		(31)
Other		356		99
Liabilities of businesses held for sale	$	260	$	2,434

FINANCING RECEIVABLES HELD FOR SALE

In the first quarter of 2015, in connection with the GE Capital Exit Plan, we committed to sell all of our non-U.S. Consumer financing receivables. As a result, we transferred these financing receivables to held for sale and recognized a pre-tax provision for losses on financing receivables of $2,405 million ($2,197 million after tax) and wrote-off the associated balance of the allowance for loan losses of $2,859million to reduce the carrying value of the financing receivables to the lower of cost or fair value, less cost to sell.

FINANCING RECEIVABLES HELD FOR SALE
(in millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	833		$	357
Energy Financial Services		-			35
GE Capital Aviation Services (GECAS)		14			27
Other		105			-
Total Commercial		952			419
Consumer		22,713	(a)		359
Total financing receivables held for sale	$	23,665		$	778

(a) Over 30 days past due and nonaccrual financing receivables related to consumer financing receivables held for sale were $1,060 million and $634 million, respectively.

Discontinued Operations

Discontinued operations primarily included most of our CLL business, our Real Estate business and our U.S. mortgage business (WMC). Results of operations, financial position and cash flows for these businesses are separately reported as discontinued operations for all periods presented.

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,756	$	4,033	$	9,536	$	11,946
Earnings (loss) from discontinued operations before income taxes	$	1,060	$	666	$	203	$	2,062
Benefit (provision) for income taxes		(420)		40		33		(7)
Earnings (loss) from discontinued operations, net of taxes	$	640	$	706	$	236	$	2,055
Disposal
Gain (loss) on disposal before income taxes	$	(2,616)	$	-	$	(9,652)	$	14
Benefit (provision) for income taxes		1,629		-		(916)		1
Gain (loss) on disposal, net of taxes	$	(987)	$	-	$	(10,568)	$	15
Earnings (loss) from discontinued operations, net of taxes	$	(347)	$	706	$	(10,332)	$	2,070

(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	11,226	$	5,414
Investment securities		8,179		10,006
Financing receivables – net		11,622		114,561
Other receivables		1,470		2,183
Property, plant and equipment – net		12,084		18,051
Goodwill		9,867		13,569
Other intangible assets - net		44		301
Deferred income taxes		2,389		2,920
Financing receivables held for sale		65,390		3,116
Valuation allowance on disposal group classified as held for sale		(7,650)		-
Other		7,320		16,803
Assets of discontinued operations	$	121,940	$	186,924
Liabilities
Short-term borrowings	$	820	$	1,125
Accounts payable		3,884		3,770
Non-recourse borrowings		8,072		10,569
Bank deposits		18,348		18,998
Long-term borrowings		316		1,182
All other liabilities		9,595		7,610
Deferred income taxes		2,608		5,403
Liabilities of discontinued operations	$	43,642	$	48,657

Commercial lending and leasing

In connection with the GE Capital Exit Plan, we announced the planned disposition of most of our CLL business and classified this portion of the business as discontinued operations. We closed certain of our CLL business dispositions for proceeds of $21,215 million for the three and nine months ended September 30, 2015.We expect to dispose of substantially all of the remaining CLL business in 2015 and 2016.

FINANCIAL INFORMATION FOR COMMERCIAL LENDING AND LEASING
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,691	$	3,370	$	8,664	$	9,998
Interest	$	(576)	$	(762)	$	(1,919)	$	(2,324)
Operating and administrative		(900)		(942)		(2,905)		(2,732)
Depreciation and amortization		-		(988)		(1,768)		(2,923)
Provision for losses on financing receivables		13		(87)		(1,744)		(294)
Earnings (loss) from discontinued operations, before income taxes		1,228		591		328		1,725
Benefit (provision) for income taxes		(484)		(108)		(169)		(326)
Earnings (loss) from discontinued operations, net of taxes	$	744	$	483	$	159	$	1,399
Disposal
Gain (loss) on disposal before income taxes	$	(2,834)	$	-	$	(8,059)	$	-
Benefit (provision) for income taxes		1,629		-		(298)		-
Gain (loss) on disposal, net of taxes	$	(1,205)	$	-	$	(8,357)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	(461)	$	483	$	(8,198)	$	1,399

(a)Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $(1,608)million and $589million for the three months endedSeptember 30, 2015 and 2014, respectively, and $(7,736)million and $1,710million for the nine months endedSeptember 30, 2015 and 2014, respectively.

REAL ESTATE

In connection with the GE Capital Exit Plan, we announced the planned disposition of our Real Estate business and classified the business as discontinued operations. We closed certain of our Real Estate business dispositions for proceeds of $12,991 million and $30,508 million for the three and nine months ended September 30, 2015, respectively. We expect to dispose of substantially all of the remaining Real Estate business by the end of 2015.

FINANCIAL INFORMATION FOR REAL ESTATE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	81	$	698	$	893	$	1,992
Interest	$	(64)	$	(270)	$	(437)	$	(817)
Operating and administrative		(156)		(213)		(464)		(563)
Depreciation and amortization		-		(82)		(62)		(252)
Provision for losses on financing receivables		-		(12)		4		92
Earnings (loss) from discontinued operations,
before income taxes		(139)		121		(65)		452
Benefit (provision) for income taxes		53		55		95		251
Earnings (loss) from discontinued operations, net of taxes	$	(86)	$	176	$	30	$	703
Disposal
Gain (loss) on disposal before income taxes	$	218	$	-	$	(1,593)	$	-
Benefit (provision) for income taxes		-		-		(618)		-
Gain (loss) on disposal, net of taxes	$	218	$	-	$	(2,211)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	132	$	176	$	(2,181)	$	703

(a) Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $81million and $120million for the three months endedSeptember 30, 2015 and 2014, respectively, and $(1,658)million and $452million for the nine months endedSeptember 30, 2015 and 2014, respectively.

WMC

During the fourth quarter of 2007, we completed the sale of WMC, our U.S. mortgage business. WMC substantially discontinued all new loan originations by the second quarter of 2007, and is not a loan servicer. In connection with the sale, WMC retained certain representation and warranty obligations related to loans sold to third parties prior to the disposal of the business and contractual obligations to repurchase previously sold loans that had an early payment default. All claims received by WMC for early payment default have either been resolved or are no longer being pursued.

The remaining active claims have been brought by securitization trustees or administrators seeking recovery from WMC for alleged breaches of representations and warranties on mortgage loans that serve as collateral for residential mortgage-backed securities (RMBS). At September 30, 2015, such claims consisted of $3,468million of individual claims generally submitted before the filing of a lawsuit (compared to $3,694 million at December 31, 2014) and $8,411 million of additional claims asserted against WMC in litigation without making a prior claim (Litigation Claims) (compared to $9,225 million at December 31, 2014). The total amount of these claims, $11,879 million, reflects the purchase price or unpaid principal balances of the loans at the time of purchase and does not give effect to pay downs or potential recoveries based upon the underlying collateral, which in many cases are substantial, nor to accrued interest or fees. As of September 30, 2015, these amounts do not include approximately $426million of repurchase claims relating to alleged breaches of representations that are not in litigation and that are beyond the applicable statute of limitations. WMC believes that repurchase claims brought based upon representations and warranties made more than six years before WMC was notified of the claim would be disallowed in legal proceedings under applicable law and the June 11, 2015 decision of the New York Court of Appeals in ACE Securities Corp. v. DB Structured Products, Inc., on the statute of limitations period governing such claims.

Reserves related to repurchase claims made against WMC were $832 million at September 30, 2015, reflecting a net increase to reserves in the three months endedSeptember 30, 2015 of $7 million due to incremental provisions net of settlements. The reserve estimate takes into account recent settlement activity and is based upon WMC’s evaluation of the remaining exposures as a percentage of estimated lifetime mortgage loan losses within the pool of loans supporting each securitization for which timely claims have been asserted in litigation against WMC. Settlements in prior periods reduced WMC’s exposure on claims asserted in certain securitizations and the claim amounts reported above give effect to these settlements.

ROLLFORWARD OF THE RESERVE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Balance, beginning of period	$	825	$	549	$	809	$	800
Provision		28		40		46		142
Claim resolutions / rescissions		(21)		(1)		(23)		(354)
Balance, end of period	$	832	$	588	$	832	$	588

Given the significant litigation activity and WMC’s continuing efforts to resolve the lawsuits involving claims made against WMC, it is difficult to assess whether future losses will be consistent with WMC’s past experience. Adverse changes to WMC’s assumptions supporting the reserve may result in an increase to these reserves. WMC estimates a range of reasonably possible loss from $0 to approximately $500 million over its recorded reserve at September 30, 2015. This estimate involves significant judgment and may not reflect the range of uncertainties and unpredictable outcomes inherent in litigation, including WMC litigation discussed in Legal Proceedings and potential changes in WMC’s legal strategy. This estimate excludes any possible loss associated with an adverse court decision on the applicable statute of limitations, as WMC is unable at this time to develop such a meaningful estimate.

At September 30, 2015, there were 15lawsuits involving claims made against WMC arising from alleged breaches of representations and warranties on mortgage loans included in 14securitizations. WMC reached a settlement in principle on one of these lawsuits in the third quarter, and the settlement became effective October 20, 2015. The adverse parties in these cases are securitization trustees or parties claiming to act on their behalf. Although the alleged claims for relief vary from case to case, the complaints and counterclaims in these actions generally assert claims for breach of contract, indemnification, and/or declaratory judgment, and seek specific performance (repurchase of defective mortgage loan) and/or money damages. Adverse court decisions, including in cases not involving WMC, could result in new claims and lawsuits on additional loans. However, WMC continues to believe that it has defenses to the claims asserted in litigation, including, for example, based on causation and materiality requirements and applicable statutes of limitations. It is not possible to predict the outcome or impact of these defenses and other factors, any of which could materially affect the amount of any loss ultimately incurred by WMC on these claims.

WMC has also received indemnification demands, nearly all of which are unspecified, from depositors/underwriters/sponsors of RMBS in connection with lawsuits brought by RMBS investors concerning alleged misrepresentations in the securitization offering documents to which WMC is not a party or, in two cases, involving mortgage loan repurchase claims made against RMBS sponsors. WMC believes that it has defenses to these demands.

To the extent WMC is required to repurchase loans, WMC’s loss also would be affected by several factors, including pay downs, accrued interest and fees, and the value of the underlying collateral. The reserve and estimate of possible loss reflect judgment, based on currently available information, and a number of assumptions, including economic conditions, claim and settlement activity, pending and threatened litigation, court decisions regarding WMC’s legal defenses, indemnification demands, government activity, and other variables in the mortgage industry. Actual losses arising from claims against WMC could exceed these amounts and additional claims and lawsuits could result if actual claim rates, governmental actions, litigation and indemnification activity, adverse court decisions, actual settlement rates or losses WMC incurs on repurchased loans differ from its assumptions.

FINANCIAL INFORMATION FOR WMC
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Total revenues (loss)	$	(22)	$	(34)	$	(26)	$	(70)
Earnings (loss) from discontinued operations, net of taxes	$	(21)	$	(25)	$	(37)	$	(57)

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Shareowners' Equity (Summary Noncontrolling Interests) (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2015		Dec. 31, 2014		Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	[1]
Summary To Noncontrolling Interest [Line Items]
Synchrony Financial	$ 2,790		$ 2,531
Other noncontrolling interests	370		368
Noncontrolling interests	$ 3,160	[1],[2]	$ 2,899	[1],[2]	$ 3,083	$ 2,804	$ 350	$ 432

[1] (c) Included AOCI attributable to noncontrolling interests of $ (178) million and $ (154) million at September 30, 2015 and December 31, 2014 , respectively.

[2] Amounts may not add due to rounding.

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Investment Securities (Investment) (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		$ 33,032	$ 33,289
Gross unrealized gain		4,121	5,189
Gross unrealized losses		(285)	(158)
Estimated fair value		36,868	38,320
Investments	[1]	36,868	38,320
US Corporate
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		19,975	19,810
Gross unrealized gain		3,102	3,962
Gross unrealized losses		(178)	(69)
Estimated fair value		22,899	23,703
State and municipal
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		3,972	4,173
Gross unrealized gain		439	555
Gross unrealized losses		(71)	(53)
Estimated fair value		4,340	4,675
Residential Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		905	1,544
Gross unrealized gain		84	153
Gross unrealized losses		(5)	(5)
Estimated fair value		984	1,692
Commercial mortgage backed
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		2,295	2,903
Gross unrealized gain		121	170
Gross unrealized losses		(12)	(10)
Estimated fair value		2,405	3,063
Asset-backed
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		107	304
Gross unrealized gain		1	8
Gross unrealized losses		(10)	(17)
Estimated fair value		97	295
Corporate non US
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		769	908
Gross unrealized gain		101	109
Gross unrealized losses		(3)	(1)
Estimated fair value		867	1,016
Government - non-U.S.
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		1,094	1,560
Gross unrealized gain		158	152
Gross unrealized losses		(1)	(2)
Estimated fair value		1,252	1,710
U.S. Government and federal agency
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		3,783	1,957
Gross unrealized gain		99	56
Gross unrealized losses		0	0
Estimated fair value		3,882	2,013
Available-for-sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		113	109
Gross unrealized gain		16	24
Gross unrealized losses		(4)	(1)
Estimated fair value		125	132
Trading Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		19	21
Gross unrealized gain		0	0
Gross unrealized losses		0	0
Estimated fair value		19	$ 21
Mortgage-backed Securities, Issued by Private Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments		23
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments		$ 961

[1] Amounts may not add due to rounding.

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Shareowners' Equity (Tables)

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Accumulated other comprehensive income

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
		Three months ended September 30			Nine months ended September 30
(In millions)		2015		2014		2015		2014
Investment securities
Beginning balance	$	558	$	1,092	$	1,010	$	309
Other comprehensive income (loss) (OCI) before reclassifications –
net of deferred taxes of $27, $(131), $(179) and $341		45		(241)		(355)		555
Reclassifications from OCI – net of deferred taxes
of $(20), $(15), $(50) and $(19)		(23)		(19)		(76)		(32)
Other comprehensive income (loss)(a)		22		(260)		(431)		523
Less OCI attributable to noncontrolling interests		-		2		-		2
Ending balance	$	580	$	830	$	580	$	830
Currency translation adjustments (CTA)
Beginning balance	$	(2,146)	$	(656)	$	(838)	$	(687)
OCI before reclassifications – net of deferred taxes
of $16, $201, $1,355 and $306		1		(532)		(1,635)		(502)
Reclassifications from OCI – net of deferred taxes
of $(628), $1, $(779) and $124		732		(14)		1,039		(8)
Other comprehensive income (loss)(a)		734		(546)		(596)		(510)
Less OCI attributable to noncontrolling interests		(1)		(6)		(23)		(1)
Ending balance	$	(1,412)	$	(1,196)	$	(1,412)	$	(1,196)
Cash flow hedges
Beginning balance	$	(156)	$	(195)	$	(172)	$	(293)
OCI before reclassifications –
net of deferred taxes of $(27), $(44), $(32) and $(6)		(135)		(314)		(651)		(341)
Reclassifications from OCI – net of deferred taxes
of $14, $27, $69 and $40		99		404		631		529
Other comprehensive income (loss)(a)		(36)		90		(20)		188
Less OCI attributable to noncontrolling interests		-		-		-		-
Ending balance	$	(192)	$	(105)	$	(192)	$	(105)
Benefit plans
Beginning balance	$	(574)	$	(371)	$	(577)	$	(363)
Net actuarial gain (loss) – net of deferred taxes
of $2, $1, $1 and $(5)		-		7		(4)		(10)
Prior service cost amortization – net of deferred taxes
of $0, $0, $0 and $0		-		-		(1)		1
Net actuarial loss amortization – net of deferred taxes
of $1, $2, $5 and $6		4		4		13		12
Other comprehensive income (loss)(a)		4		11		8		3
Less OCI attributable to noncontrolling interests		-		-		(1)		-
Ending balance	$	(569)	$	(360)	$	(569)	$	(360)
Accumulated other comprehensive income (loss) at September 30	$	(1,593)	$	(831)	$	(1,593)	$	(831)

(a)Total other comprehensive income (loss) was $725 million and $(705) million in the three months endedSeptember 30, 2015 and 2014, respectively, and $(1,039)million and $204million in the nine months endedSeptember 30, 2015 and 2014, respectively.

Reclassification out of Accumulated Other Comprehensive Income

RECLASSIFICATION OUT OF AOCI
	Three months ended September 30					Nine months ended September 30
(In millions)	2015		2014		2015		2014		Statement of Earnings Caption
Available-for-sale securities
Realized gains (losses) on
sale/impairment of securities	$	42	$	34	$	126	$	51	Revenues from services(a)
		(20)		(15)		(50)		(19)	Benefit (provision) for income taxes(b)
	$	23	$	19	$	76	$	32	Net of tax
Currency translation adjustments
Gains (losses) on dispositions	$	(104)	$	13	$	(260)	$	(116)	Costs and expenses(c)
		(628)		1		(779)		124	Benefit (provision) for income taxes(d)
	$	(732)	$	14	$	(1,039)	$	8	Net of tax
Cash flow hedges
Gains (losses) on interest rate
derivatives	$	(39)	$	(53)	$	(100)	$	(182)	Interest
Foreign exchange contracts		(75)		(377)		(600)		(387)	(e)
		(114)		(430)		(699)		(569)	Total before tax
		14		26		69		40	Benefit (provision) for income taxes
	$	(99)	$	(404)	$	(631)	$	(529)	Net of tax
Benefit plan items
Amortization of prior service costs	$	-	$	-	$	1	$	(1)	(f)
Amortization of actuarial gains (losses)		(5)		(6)		(18)		(18)	(f)
		(5)		(6)		(17)		(19)	Total before tax
		1		2		5		6	Benefit (provision) for income taxes
	$	(4)	$	(4)	$	(12)	$	(13)	Net of tax
Total reclassification adjustments	$	(813)	$	(375)	$	(1,606)	$	(502)	Net of tax

(a)Included $28 million and $40 million for the three months endedSeptember 30, 2015 and 2014, and $45 million and $34 million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(b) Included $(15) million and $(15) million for the three months endedSeptember 30, 2015 and 2014, and $(21) million and $(13) million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(c) Included $(104) million and $1 million for the three months endedSeptember 30, 2015 and 2014, and $(102) million and $(128) million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(d) Included $(628) million and an insignificant amount for the three months endedSeptember 30, 2015 and 2014, and $(764) million and $123million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(e) Included $(47) million and $(357) million in revenues from services and $(28) million and $(20) million in interest in the three months endedSeptember 30, 2015 and 2014, respectively, and $(587) million and $(368) million in revenues from services and $(13) million and $(19) million in interest in the nine months endedSeptember 30, 2015 and 2014, respectively.

(f)Amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs.

Changes to noncontrolling interests

CHANGES TO NONCONTROLLING INTERESTS
		Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Beginning balance	$	3,083	$	350	$	2,899	$	432
Net earnings		83		55		267		76
Dividends		-		-		(5)		(1)
Dispositions		(3)		(6)		(9)		(98)
Synchrony Financial IPO		-		2,393		-		2,393
Other (including AOCI)		(2)		12		8		2
Ending balance	$	3,160	$	2,804	$	3,160	$	2,804

Summary of noncontrolling interest

(In millions)		September 30, 2015		December 31, 2014
Synchrony Financial	$	2,790	$	2,531
Other noncontrolling interests in consolidated affiliates(a)		370		368
Total	$	3,160	$	2,899

(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates.

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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Unrecognized tax benefits

UNRECOGNIZED TAX BENEFITS
(In millions)	September 30, 2015		December 31, 2014
Unrecognized tax benefits	$	2,957	$	3,055
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		2,215		2,259
Accrued interest on unrecognized tax benefits		359		420
Accrued penalties on unrecognized tax benefits		35		34
Reasonably possible reduction to the balance of unrecognized tax benefits
in succeeding 12 months		0-750		0-600
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		0-200		0-50

(a)Some portion of such reduction may be reported as discontinued operations.

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Borrowings and Bank Deposits (Footnote) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	$ 164,183	$ 186,759
Bank deposits (Note 6)	48,656	43,841
Short-term borrowings (Note 6)	42,880	67,705
Non Recourse Borrowings Of Consolidated Securitization Entities	16,225	$ 19,369
Subordinated Debenture | Subsidiary Issuer [Member]
Borrowings And Bank Deposits [Line Items]
Long-term borrowings (Note 6)	$ 2,636

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Investment Securities (Investments, by type and length in continuous loss position) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	$ 4,052	$ 2,255
Gross unrealized losses, less than 12 months	(164)	(22)
Estimated fair value, 12 months or more	645	1,554
Gross unrealized losses, 12 months or more	$ (121)	(136)
Percent Of Gross Unrealized Losses, 12 Months Or More, Considered Investment Grade	97.00%
OTTI Previously Recognized Through OCI On Securities Held, Gross Unrealized Losses	$ 27
Marketable Securities, Realized Loss, Other than Temporary Impairments, Amount			$ 0
US Corporate
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	2,161	554
Gross unrealized losses, less than 12 months	(130)	(16)
Estimated fair value, 12 months or more	335	836
Gross unrealized losses, 12 months or more	(48)	(53)
State and municipal
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	544	67
Gross unrealized losses, less than 12 months	(16)	(1)
Estimated fair value, 12 months or more	155	308
Gross unrealized losses, 12 months or more	(55)	(52)
Residential Mortgage Backed Securities [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	175	30
Gross unrealized losses, less than 12 months	(2)	0
Estimated fair value, 12 months or more	77	146
Gross unrealized losses, 12 months or more	(3)	(5)
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Debt securities, Estimated fair value	23
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Debt securities, Estimated fair value	961
Mortgage-backed Securities, Residential, Subprime, Financing Receivable [Member] | Residential Mortgage Backed Securities [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Debt securities, Estimated fair value	58
Commercial mortgage backed
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	351	165
Gross unrealized losses, less than 12 months	(8)	(1)
Estimated fair value, 12 months or more	26	204
Gross unrealized losses, 12 months or more	(4)	(9)
Asset-backed
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	0	9
Gross unrealized losses, less than 12 months	0	0
Estimated fair value, 12 months or more	48	42
Gross unrealized losses, 12 months or more	(10)	(17)
Corporate non US
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	41	42
Gross unrealized losses, less than 12 months	(3)	(1)
Estimated fair value, 12 months or more	3	3
Gross unrealized losses, 12 months or more	0	0
Government - non-U.S.
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	292	677
Gross unrealized losses, less than 12 months	(1)	(2)
Estimated fair value, 12 months or more	0	14
Gross unrealized losses, 12 months or more	0	0
U.S. Government and federal agency
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	450	705
Gross unrealized losses, less than 12 months	0	0
Estimated fair value, 12 months or more	1	1
Gross unrealized losses, 12 months or more	0	0
Equity Securities [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	38	6
Gross unrealized losses, less than 12 months	(4)	(1)
Estimated fair value, 12 months or more	0	0
Gross unrealized losses, 12 months or more	0	$ 0
Retained Interest [Member]
Available-for-sale Securities Estimated Fair Value And Gross Unrealized Losses [Abstract]
Estimated fair value, less than 12 months	0
Gross unrealized losses, less than 12 months	0
Estimated fair value, 12 months or more	0
Gross unrealized losses, 12 months or more	$ 0

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Revenues from Services (Tables)

9 Months Ended

Sep. 30, 2015

Financial Services Revenue [Abstract]

Revenues from services

	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest on loans	$	3,010	$	3,128	$	8,902	$	9,194
Equipment leased to others		1,179		1,111		3,519		3,400
Fees		839		852		2,426		2,466
Investment income		470		495		1,445		1,506
Associated companies(a)		158		189		893		796
Premiums earned by insurance activities		353		397		1,062		1,130
Financing leases		84		100		275		331
Other items(b)		198		84		(1,133)		311
Total	$	6,290	$	6,356	$	17,388	$	19,134

(a)Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest is included total assets at September 30, 2015 and December 31, 2014 of $54,302 million and $78,632 million, respectively. Assets were primarily financing receivables of $25,334 million and $46,481 million at September 30, 2015 and December 31, 2014, respectively. Total liabilities were $37,402 million and $57,273 million, consisted primarily of bank deposits of $17 million and $1,853 million at September 30, 2015 and December 31, 2014, respectively, and debt of $31,793 million and $39,147 million at September 30, 2015 and December 31, 2014, respectively. Revenues for the three months endedSeptember 30, 2015 and2014 totaled $2,990 million and $3,612 million, respectively, and net earnings for the three months endedSeptember 30, 2015 and2014 totaled $328 million and $784million, respectively. Revenues for the nine months endedSeptember 30, 2015 and 2014 totaled $9,469 million and $14,162 million, respectively, and net earnings for the nine months endedSeptember 30, 2015 and 2014 totaled $1,030million and $2,281 million, respectively.

(b)During the nine months ended September 30, 2015, other items primarily included impairments related to equity method investments ($1,392 million) in connection with the GE Capital Exit Plan

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Assets and liabilities at fair value

ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
									Netting
(In millions)	Level 1		(a)	Level 2		(a)	Level 3		adjustment		(b)	Net balance
September 30, 2015
Assets
Investment securities
Debt
U.S. corporate	$	-		$	19,853		$	3,046	$	-		$	22,899
State and municipal		-			4,259			81		-			4,340
Residential mortgage-backed		-			981			2		-			984
Commercial mortgage-backed		-			2,403			1		-			2,405
Asset-backed		-			59			38		-			97
Corporate ̶ non-U.S.		6			579			282		-			867
Government ̶ non-U.S.		14			1,238			-		-			1,252
U.S. government and federal agency		-			3,573			309		-			3,882
Equity
Available-for-sale		100			14			10		-			125
Trading		19			-			-		-			19
Derivatives(c)		-			7,465			67		(6,325)			1,207
Total	$	138		$	40,425		$	3,837	$	(6,325)		$	38,075
Liabilities
Derivatives	$	-		$	4,382		$	7	$	(4,378)		$	11
Other		-			19			-		-			19
Total	$	-		$	4,401		$	7	$	(4,378)		$	29
December 31, 2014
Assets
Investment securities
Debt
U.S. corporate	$	-		$	20,659		$	3,044	$	-		$	23,703
State and municipal		-			4,560			115		-			4,675
Residential mortgage-backed		-			1,676			16		-			1,692
Commercial mortgage-backed		-			3,054			9		-			3,063
Asset-backed		-			172			123		-			295
Corporate ̶ non-U.S.		-			680			336		-			1,016
Government ̶ non-U.S.		-			1,708			2		-			1,710
U.S. government and federal agency		-			1,747			266		-			2,013
Equity
Available-for-sale		108			15			9		-			132
Trading		21			-			-		-			21
Derivatives(c)		-			8,981			27		(7,378)			1,630
Total	$	129		$	43,252		$	3,947	$	(7,378)		$	39,950
Liabilities
Derivatives	$	-		$	4,218		$	9	$	(4,171)		$	56
Other		-			20			-		-			20
Total	$	-		$	4,238		$	9	$	(4,171)		$	76

(a)There were no securities transferred between Level 1 and Level 2 in the nine months endedSeptember 30, 2015. There were $487million of Government – non-U.S. and $13million of Corporate – non-U.S. available-for-sale debt securities transferred from Level 1 to Level 2 in the twelve months ended December 31, 2014 primarily attributable to changes in market observable data.

(b) The netting of derivative receivables and payables (including the effects of any collateral posted or received) is permitted when a legally enforceable master netting agreement exists.

(c)The fair value of derivatives includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $2million and $15 million at September 30, 2015 and December 31, 2014, respectively. See Note 11 for additional information on the composition of our derivative portfolio.

Changes in level 3 instruments

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE THREE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	July 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,019	$	5	$	(7)	$	74	$	(28)	$	(37)	$	35	$	(14)	$	3,046	$	-
State and municipal		101		-		1		-		-		(5)		-		(17)		81		-
RMBS		2		-		-		-		-		(1)		-		-		2		-
CMBS		2		-		-		-		-		-		-		-		1		-
ABS		76		(2)		-		-		-		-		-		(36)		38		-
Corporate – non-U.S.		283		-		-		-		-		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		293		-		16		-		-		-		-		-		309		-
Equity
Available-for-sale		6		-		(1)		-		-		-		6		-		10		-
Derivatives(d)(e)		71		1		-		1		-		-		-		-		72		-
Total	$	3,855	$	4	$	9	$	75	$	(28)	$	(44)	$	41	$	(69)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	3,032	$	4	$	(1)	$	102	$	(56)	$	(90)	$	32	$	-	$	3,023	$	-
State and municipal		110		-		2		2		-		(1)		-		-		113		-
RMBS		66		-		-		-		-		(3)		-		(47)		16		-
CMBS		11		-		-		-		-		(1)		-		-		10		-
ABS		130		1		2		-		-		(4)		-		-		129		-
Corporate – non-U.S.		499		-		(1)		-		-		(23)		-		-		475		-
Government – non-U.S.		1		-		-		-		-		-		-		(1)		-		-
U.S. government and
federal agency		249		-		6		-		-		-		9		-		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		9		-		-		-		-		-		-		-		9		-
Derivatives(d)(e)		22		3		1		(1)		-		(1)		-		-		24		2
Total	$	4,130	$	8	$	9	$	103	$	(56)	$	(124)	$	41	$	(48)	$	4,063	$	2

(a)Earnings effects are primarily included in the “Revenues from services” and “Interest” captions in the Statement of Earnings (Loss).

(b)Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c) Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the three months endedSeptember 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE NINE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	January 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,044	$	16	$	(93)	$	248	$	(83)	$	(93)	$	35	$	(27)	$	3,046	$	-
State and municipal		115		-		(3)		-		-		(15)		-		(17)		81		-
RMBS		16		5		(4)		-		(15)		(1)		-		-		2		-
CMBS		9		-		-		-		(7)		-		-		-		1		-
ABS		123		(16)		(5)		-		(12)		(3)		-		(49)		38		-
Corporate – non-U.S.		336		-		(4)		-		(49)		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		266		-		44		-		-		(1)		-		-		309		-
Equity
Available-for-sale		9		2		(3)		6		(5)		(4)		6		-		10		-
Derivatives(d)(e)		28		-		3		-		-		-		42		-		72		-
Total	$	3,948	$	7	$	(65)	$	254	$	(171)	$	(118)	$	83	$	(95)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	2,751	$	22	$	126	$	440	$	(212)	$	(158)	$	170	$	(116)	$	3,023	$	-
State and municipal		96		-		9		12		-		(4)		-		-		113		-
RMBS		86		1		-		-		(16)		(8)		-		(47)		16		-
CMBS		10		-		-		-		-		(2)		2		-		10		-
ABS		145		3		6		-		-		(15)		-		(10)		129		-
Corporate – non-U.S.		503		13		42		-		(54)		(24)		1		(6)		475		-
Government – non-U.S.		31		-		-		-		-		-		-		(31)		-		-
U.S. government and
federal agency		225		-		32		-		-		-		9		(2)		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		11		-		-		2		(2)		(2)		-		-		9		-
Derivatives(d)(e)		19		7		1		(1)		-		(1)		(1)		-		24		12
Total	$	3,878	$	46	$	216	$	453	$	(284)	$	(215)	$	181	$	(212)	$	4,063	$	12

(a) Earnings effects are primarily included in the “Revenues from services” and “Interest” captions in the Statement of Earnings (Loss).

(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c) Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the nine months endedSeptember 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

Non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis

	Remeasured during				Remeasured during
	the nine months ended				the year ended
	September 30, 2015				December 31, 2014
(In millions)	Level 2		Level 3		Level 2		Level 3
Financing receivables and financing receivables held for sale	$	-	$	18,152	$	1	$	584
Cost and equity method investments		1		2,336		-		334
Long-lived assets, including real estate		3		296		102		718
Total	$	4	$	20,785	$	103	$	1,636

	Three months ended September 30				Nine months ended September 30
(In millions)		2015	2014		2015		2014
Financing receivables and financing receivables held for sale	$	(46)	$	(31)	$	(2,199)	$	(135)
Cost and equity method investments		(279)		(80)		(1,741)		(274)
Long-lived assets, including real estate		(85)		(262)		(125)		(312)
Total	$	(410)	$	(373)	$	(4,064)	$	(721)

Significant Unobservable Inputs Used For Level Three Recurring And Nonrecurring Measurements [Table Text Block]

LEVEL 3 MEASUREMENTS - SIGNIFICANT UNOBSERVABLE INPUTS
					Range
(Dollars in millions)	Fair value		Valuation technique	Unobservable inputs	(weighted average)
September 30, 2015
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	863	Income approach	Discount rate(a)	2.2%-15.3% (7.4%)
Asset-backed		38	Income approach	Discount rate(a)	5.0%-10.0% (9.1%)
Corporate ̶ non-U.S.		226	Income approach	Discount rate(a)	6.5%-14.0% (7.4%)
Non-recurring fair value measurements
Financing receivables and financing receivables held for sale	$	18,015	Income approach	Discount rate(a)	5.6%-8.0% (6.7%)
Cost and equity method investments		2,134	Income approach,	Discount rate(a)	9.0%-14.5% (11.8%)
			Market comparables	Price to book multiple	0.4X-0.7X (0.6X)
Long-lived assets, including real estate		198	Income approach	Discount rate(a)	1.7%-9.8% (6.2%)
December 31, 2014
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	917	Income approach	Discount rate(a)	1.5%-14.8% (6.6%)
State and municipal		17	Income approach	Discount rate(a)	4.9%-4.9% (4.9%)
Asset-backed		102	Income approach	Discount rate(a)	4.3%-9.0% (5.6%)
Corporate ̶ non-U.S.		278	Income approach	Discount rate(a)	3.3%-14.0% (6.5%)
Non-recurring fair value measurements
Cost and equity method investments		309	Income approach	Discount rate(a)	8.0%-10.0% (9.4%)
			Market comparables	EBITDA multiple	1.8X-5.2X (4.8X)
Long-lived assets, including real estate		664	Income approach	Discount rate(a)	2.0%-10.8% (6.7%)

(a) Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value.

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2015

Summary of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Notes to Consolidated Financial Statements

NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

General Electric Company (GE Company or GE) owns all of the common stock of General Electric Capital Corporation (GECC). Our financial statements consolidate all of our affiliates – companies that we control and in which we hold a majority voting interest. We also consolidate the economic interests we hold in certain businesses within companies in which we hold a voting equity interest and are majority owned by our parent, but which we have agreed to actively manage and control. See Note 1 to the consolidated financial statements of our Form 8-K filed on May 8, 2015 (2014 consolidated financial statements), which discusses our consolidation and financial statement presentation. GECC includes Commercial Lending and Leasing (CLL), Consumer, Energy Financial Services (EFS) and GE Capital Aviation Services (GECAS).

Effects of transactions between related companies are made on an arms-length basis and are eliminated. As a wholly-owned subsidiary, GECC enters into various operating and financing arrangements with its parent, GE. These arrangements are made on an arms-length basis and consist primarily of GECC dividends to GE; GE customer receivables sold to GECC; GECC services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECC; information technology (IT) and other services sold to GECC by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECC from third-party producers for lease to others; and various investments, loans and allocations of GE corporate costs.

We have reclassified certain prior-period amounts to conform to the current-period presentation. Effective September 30, 2015, certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. Unless otherwise indicated, information in these notes to the consolidated financial statements relates to continuing operations.

THE GE Capital Exit Plan

On April 10, 2015, GE announced its plan (the GE Capital Exit Plan) to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months, and to focus on continued investment and growth in GE’s industrial businesses. Under the GE Capital Exit Plan, which was approved on April 2, 2015 and aspects of which were approved on March 31, 2015, GE will retain certain GECC businesses, principally its vertical financing businesses— GE Capital Aviation Services, Energy Financial Services and Healthcare Equipment Finance—that directly relate to GE’s core industrial domain and other operations, including Working Capital Solutions and our run-off insurance activities (together referred to as GE Capital Verticals or Verticals). The assets planned for disposition include Real Estate, most of Commercial Lending and Leasing and all Consumer platforms (including all U.S. banking assets).

In the nine months ended September 30, 2015, GE recorded $21,061 million of after-tax charges related to the GE Capital Exit Plan, including $362 million of after-tax charges recorded in the third quarter of 2015, primarily exit-related charges in our CLL business, partially offset by income associated with operations in CLL and Real Estate. A description of after-tax charges for the nine months ended September 30, 2015 is provided below.

• $9,756 million of net loss primarily related to the planned disposition of the Real Estate business and most of the CLL business, which is recorded in discontinued operations under the caption “Earnings (loss) from discontinued operations, net of taxes” in the Statement of Earnings.

• $6,209 million of tax expense related to expected repatriation of foreign earnings and write-off of deferred tax assets, of which $6,057 million is reported in GECC’s Corporate component and $152 million is reported in our Consumer business all recorded in continuing operations under the caption “Benefit (provision) for income taxes” in the Statement of Earnings.

• $4,666 million of net asset impairments due to shortened hold periods, of which $3,151 million is recorded in continuing operations in our Consumer business primarily under the captions “Provisions for losses on financing receivables” and “Revenues from services” in the Statement of Earnings and $1,515 million is recorded in discontinued operations in our CLL business under the caption “Earnings (loss) from discontinued operations, net of taxes” in the Statement of Earnings.

• $430 million of restructuring and other charges, of which $337 million is recorded in continuing operations in GECC’s Corporate component under the caption “Operating and administrative” in the Statement of Earnings and $93 million is recorded in discontinued operations in our CLL business under the caption “Earnings (loss) from discontinued operations, net of taxes” in the Statement of Earnings.

As part of the GE Capital Exit Plan, GE and GECC entered into an amendment to their existing financial support agreement. Under this amendment (the Amendment), GE has provided a full and unconditional guarantee (the Guarantee) of the payment of principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC identified in the Amendment. In the aggregate, the Guarantee applied to $183,670 million of GECC debt as of September 30, 2015. See Note 6. The Guarantee replaced the requirement that GE make certain income maintenance payments to GECC in certain circumstances. GECC’s U.S. public indentures were concurrently amended to provide the full and unconditional guarantee by GE set forth in the Guarantee.

See Notes 2 and 5 to the consolidated financial statements for additional information.

interim period presentation

The consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. It is suggested that these consolidated financial statements be read in conjunction with the financial statements and notes thereto included in our 2014 consolidated financial statements. Effective for the first quarter of 2015, GECC is following a calendar quarter. Previously, we established interim quarterly closing dates using a fiscal calendar, which required our businesses to close their books on either a Saturday or Sunday, depending on the business.

summary of significant accounting policies

In addition to the policies referenced in our 2014 Form 10-K Report and Form 8-K filed on May 8, 2015, we have supplemented the discussion of our significant accounting policies and critical accounting estimates to describe the estimates used to determine the fair value of businesses and assets held for sale as follows.

BUSINESSES AND ASSETS HELD FOR SALE

Businesses held for sale represent components that meet accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer.

As previously discussed, as a result of the GE Capital Exit Plan, management has committed to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months. As a result, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at September 30, 2015.

The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction as of September 30, 2015.

We review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values.

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Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Financial Instruments [Abstract]

Estimated fair value of assets and liabilities

	September 30, 2015						December 31, 2014
			Assets (liabilities)						Assets (liabilities)
	Notional		Carrying		Estimated		Notional		Carrying		Estimated
(In millions)	amount		amount (net)		fair value		amount		amount (net)		fair value
Assets
Loans	$	(a)	$	78,775	$	85,107	$	(a)	$	115,889	$	120,067
Other commercial mortgages		(a)		1,392		1,520		(a)		1,427		1,508
Loans held for sale		(a)		22,651		23,039		(a)		778		799
Other financial instruments(b)		(a)		161		195		(a)		122		136
Liabilities
Borrowings and bank deposits(c)(d)(e)		(a)		(271,944)		(283,092)		(a)		(317,674)		(333,956)
Investment contract benefits		(a)		(2,821)		(3,327)		(a)		(2,970)		(3,565)
Guaranteed investment contracts		(a)		(179)		(193)		(a)		(1,000)		(1,031)
Insurance - credit life(f)		-		-		-		1,843		(90)		(77)

(a)These financial instruments do not have notional amounts.

(b) Principally comprises cost method investments.

(c) See Note 6.

(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at September 30, 2015 and December 31, 2014 would have been reduced by $4,710 million and $5,020 million, respectively.

(e) Included $1,994 million and $2,888million of accrued interest in estimated fair value at September 30, 2015 and December 31, 2014, respectively.

(f) Net of reinsurance of none and $964 million at September 30, 2015 and December 31, 2014, respectively.

Loan commitments

NOTIONAL AMOUNTS OF LOAN COMMITMENTS
(In millions)	September 30, 2015		December 31, 2014
Ordinary course of business lending commitments(a)	$	804	$	1,214
Unused revolving credit lines(b)
Commercial		2,054		2,908
Consumer – principally credit cards		321,710		306,188

(a) Excluded investment commitments of $579 million and $818 million at September 30, 2015 and December 31, 2014, respectively.

(b) Excluded amounts related to inventory financing arrangements, which may be withdrawn at our option, of $39 million and $47 million at September 30, 2015 and December 31, 2014, respectively.

Fair value of derivatives by contract type

FAIR VALUE OF DERIVATIVES
	September 30, 2015				December 31, 2014
(In millions)	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Interest rate contracts	$	5,579	$	53	$	5,859	$	461
Currency exchange contracts		1,382		1,234		2,435		779
Other contracts		-		-		-		-
		6,961		1,287		8,294		1,240
Derivatives not accounted for as hedges
Interest rate contracts		144		61		111		68
Currency exchange contracts		383		3,033		595		2,910
Other contracts		44		8		8		9
		571		3,102		714		2,987
Gross derivatives recognized in statement of
financial position
Gross derivatives		7,532		4,389		9,008		4,227
Gross accrued interest		978		9		1,392		(24)
		8,510		4,398		10,400		4,203
Amounts offset in statement of financial position
Netting adjustments(a)		(3,481)		(3,483)		(3,695)		(3,710)
Cash collateral(b)		(2,844)		(895)		(3,683)		(461)
		(6,325)		(4,378)		(7,378)		(4,171)
Net derivatives recognized in statement of
financial position
Net derivatives		2,185		20		3,022		32
Amounts not offset in statement of
financial position
Securities held as collateral(c)		(1,510)		-		(3,003)		-
Net amount	$	675	$	20	$	19	$	32

Derivatives are classified in the captions “Other assets” and “Other liabilities” and the related accrued interest is classified in “Other receivables” and “Other liabilities” in our financial statements.

• The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At September 30, 2015 and December 31, 2014, the cumulative adjustment for non-performance risk was a gain (loss) of $2 million and $15 million, respectively.
• Excluded excess cash collateral received and posted of $53 million and $66 million at September 30, 2015, respectively, and $58 million and $211 million at December 31, 2014, respectively.
• Excluded excess securities collateral received of $34 million and $385million at September 30, 2015 and December 31, 2014, respectively.

Fair value hedges

EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Three months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	1,391	$	(1,387)	$	341	$	(350)
Currency exchange contracts		(6)		5		(8)		8

EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Nine months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	514	$	(594)	$	2,056	$	(2,129)
Currency exchange contracts		(6)		4		(11)		10

Cash flow hedges

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	10	$	9	$	(39)	$	(53)
Currency exchange contracts		(136)		(302)		(75)		(377)
Total(a)	$	(126)	$	(293)	$	(113)	$	(430)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	-	$	-	$	(100)	$	(182)
Currency exchange contracts		(794)		(267)		(600)		(387)
Total(a)	$	(794)	$	(267)	$	(699)	$	(569)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

Net investment hedges

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	1,311	$	2,792	$	1,935	$	(24)

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	4,749	$	2,194	$	2,524	$	(14)

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Operating Segments, Revenues (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenues	[1]	$ 6,312	$ 6,384	$ 17,452	$ 19,223
Operating segments
Segment Reporting Information [Line Items]
Revenues		5,468	5,479	14,867	16,637
CLL | Operating segments
Segment Reporting Information [Line Items]
Revenues		285	251	790	743
Consumer | Operating segments
Segment Reporting Information [Line Items]
Revenues		3,652	3,622	9,237	10,822
Energy Financial Services | Operating segments
Segment Reporting Information [Line Items]
Revenues		225	344	906	1,120
GECAS | Operating segments
Segment Reporting Information [Line Items]
Revenues		1,307	1,262	3,935	3,952
Corporate Items And Eliminations [Member] | Operating segments
Segment Reporting Information [Line Items]
Revenues		$ 843	$ 905	$ 2,585	$ 2,586

[1] Amounts may not add due to rounding.

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Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations (Discontinued Operations) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Operations
Interest expense	[1]	$ 1,151	$ 1,061	$ 3,096	$ 3,184
Provision for losses on financing receivables	[1]	738	858	4,636	2,693
Disposal
Earnings (loss) from discontinued operations, net of taxes (Note 2)	[1]	(347)	706	(10,332)	2,070
Assets
Investments	[1]	36,868		36,868		$ 38,320
Goodwill	[1]	11,460		11,460		11,456
Receivables Held for Sale	[1]	23,665		23,665		778
Assets of discontinued operations	[1]	121,940		121,940		186,924
Liabilities
Short-term borrowings		42,880		42,880		67,705
Non Recourse Borrowings Of Consolidated Securitization Entities		16,225		16,225		19,369
Bank deposits		48,656		48,656		43,841
Liabilities of discontinued operations	[1]	43,642		43,642		48,657
Net Income (Loss) Attributable to Parent	[1]	387	1,549	(17,726)	5,322
Real Estate [Member]
Operations
Earnings (loss) from discontinued operations before income taxes		81	120	(1,658)	452
CLL
Operations
Earnings (loss) from discontinued operations before income taxes		(1,608)	589	(7,736)	1,710
Assets
Goodwill		111		111		25
Discontinued operations
Operations
Total revenues (loss)		2,756	4,033	9,536	11,946
Earnings (loss) from discontinued operations before income taxes		1,060	666	203	2,062
Benefit (provision) for income taxes		(420)	40	33	(7)
Earnings (loss) from discontinued operations, net of taxes		640	706	236	2,055
Disposal
Gain (loss) on disposal before income taxes		(2,616)	0	(9,652)	14
Benefit (provision) for income taxes		1,629	0	(916)	1
Gain (loss) on disposal, net of taxes		(987)	0	(10,568)	15
Earnings (loss) from discontinued operations, net of taxes (Note 2)		(347)	706	(10,332)	2,070
Assets
Cash and cash equivalents		11,226		11,226		5,414
Investments		8,179		8,179		10,006
Financing receivables - net		11,622		11,622		114,561
Other receivables		1,470		1,470		2,183
Property, plant and equipment - net		12,084		12,084		18,051
Goodwill		9,867		9,867		13,569
Other intangible assets		44		44		301
Deferred income tax asset		2,389		2,389		2,920
Receivables Held for Sale		65,390		65,390		3,116
Valuation allowance on disposal group		(7,650)		(7,650)		0
Other assets		7,320		7,320		16,803
Assets of discontinued operations		121,940		121,940		186,924
Liabilities
Short-term borrowings		820		820		1,125
Accounts payable, current		3,884		3,884		3,770
Non Recourse Borrowings Of Consolidated Securitization Entities		8,072		8,072		10,569
Bank deposits		18,348		18,348		18,998
Long-term borrowings		316		316		1,182
All other liabilities		9,595		9,595		7,610
Deferred income taxes		2,608		2,608		5,403
Liabilities of discontinued operations		43,642		43,642		$ 48,657
Discontinued operations | Real Estate [Member]
Operations
Total revenues (loss)		81	698	893	1,992
Interest expense		(64)	(270)	(437)	(817)
Operating and administrative		(156)	(213)	(464)	(563)
Depreciation and amortization		0	(82)	(62)	(252)
Provision for losses on financing receivables		0	(12)	4	92
Earnings (loss) from discontinued operations before income taxes		(139)	121	(65)	452
Benefit (provision) for income taxes		53	55	95	251
Earnings (loss) from discontinued operations, net of taxes		(86)	176	30	703
Disposal
Gain (loss) on disposal before income taxes		218	0	(1,593)	0
Benefit (provision) for income taxes		0	0	(618)	0
Gain (loss) on disposal, net of taxes		218	0	(2,211)	0
Earnings (loss) from discontinued operations, net of taxes (Note 2)		132	176	(2,181)	703
Liabilities
Estimated loss on disposal		218		1,593
Estimated loss on disposal after tax		218		2,211
Discontinued operations | CLL
Operations
Total revenues (loss)		2,691	3,370	8,664	9,998
Interest expense		(576)	(762)	(1,919)	(2,324)
Operating and administrative		(900)	(942)	(2,905)	(2,732)
Depreciation and amortization		0	(988)	(1,768)	(2,923)
Provision for losses on financing receivables		13	(87)	(1,744)	(294)
Earnings (loss) from discontinued operations before income taxes		1,228	591	328	1,725
Benefit (provision) for income taxes		(484)	(108)	(169)	(326)
Earnings (loss) from discontinued operations, net of taxes		744	483	159	1,399
Disposal
Gain (loss) on disposal before income taxes		(2,834)	0	(8,059)	0
Benefit (provision) for income taxes		1,629	0	(298)	0
Gain (loss) on disposal, net of taxes		(1,205)	0	(8,357)	0
Earnings (loss) from discontinued operations, net of taxes (Note 2)		(461)	$ 483	(8,198)	$ 1,399
Liabilities
Estimated loss on disposal		(2,834)		8,059
Estimated loss on disposal after tax		$ (1,205)		$ 8,357

[1] Amounts may not add due to rounding.

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Acquisitions, Goodwill and Other Intangible Assets (Changes in Goodwill Balances) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 11,456	[1]
Acquisitions	729
Dispositions, currency exchange and other	(724)
Goodwill, period increase (decrease)	4
Goodwill, Ending Balance	11,460	[1]
CLL
Goodwill [Roll Forward]
Goodwill, Beginning Balance	25
Acquisitions	0
Dispositions, currency exchange and other	86
Goodwill, Ending Balance	111
Consumer
Goodwill [Roll Forward]
Goodwill, Beginning Balance	9,777
Acquisitions	0
Dispositions, currency exchange and other	(689)
Goodwill, Ending Balance	9,088
Energy Financial Services
Goodwill [Roll Forward]
Goodwill, Beginning Balance	1,507
Acquisitions	0
Dispositions, currency exchange and other	(121)
Goodwill, Ending Balance	1,386
GECAS
Goodwill [Roll Forward]
Goodwill, Beginning Balance	147
Acquisitions	729
Dispositions, currency exchange and other	0
Goodwill, Ending Balance	$ 876

[1] Amounts may not add due to rounding.

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Financial Instruments (Derivatives and hedging) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 250,000
Excess Collateralization	53	$ 58
Excess Collateral Posted	66	211
Excess Securities Collateral Held	34	385
Recognized In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	8,510	10,400
Derivative liabilities	4,398	4,203
Amounts Offset In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	(6,325)	(7,378)
Derivative liabilities	(4,378)	(4,171)
Netting Adjustment [Member] | Amounts Offset In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	(3,481)	(3,695)
Derivative liabilities	(3,483)	(3,710)
Cash Collateral [Member] | Amounts Offset In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	(2,844)	(3,683)
Derivative liabilities	(895)	(461)
Securities Pledged as Collateral [Member] | Not Offset In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	(1,510)	(3,003)
Derivative liabilities	0	0
Derivatives Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	6,961	8,294
Derivative liabilities	1,287	1,240
Derivatives Not Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	571	714
Derivative liabilities	3,102	2,987
Derivatives Associated With Interest Rate, Currency Or Market Risk Reduction Or Elimination [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 247,000
Percentage Of Notional Amount That Is Associated With Reducing Or Eliminating Interest Rate, Currency, Or Market Risk	9900.00%
Gross Derivatives [Member] | Recognized In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	$ 7,532	9,008
Derivative liabilities	4,389	4,227
Gross Accrued Interest [Member] | Recognized In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	978	1,392
Derivative liabilities	9	(24)
Net Derivative [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	675	19
Derivative liabilities	20	32
Net Derivative [Member] | Recognized In Statement Of Financial Position [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	2,185	3,022
Derivative liabilities	20	32
Interest Rate Contract | Derivatives Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	5,579	5,859
Derivative liabilities	53	461
Interest Rate Contract | Derivatives Not Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	144	111
Derivative liabilities	61	68
Foreign Exchange Contract | Derivatives Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	1,382	2,435
Derivative liabilities	1,234	779
Foreign Exchange Contract | Derivatives Not Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	383	595
Derivative liabilities	3,033	2,910
Other Contract [Member] | Derivatives Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Other Contract [Member] | Derivatives Not Accounted For As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	44	8
Derivative liabilities	$ 8	$ 9

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Consolidated Statement of Earnings (unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Revenues From Services	[1],[2]	$ 6,292	$ 6,358	$ 17,409	$ 19,148
Other-than-temporary impairment on investment securities:
Total other-than-temporary impairment on investment securities	[2]	(2)	(2)	(21)	(18)
Less other-than-temporary impairment recognized in accumulated other comprehensive income	[2]	0	0	0	4
Net other-than-temporary impairment on investment securities recognized in earnings	[2]	(2)	(2)	(21)	(14)
Revenues from services (Note 9)	[2]	6,290	6,356	17,388	19,134
Sales of goods	[2]	21	28	64	89
Total revenues	[2]	6,312	6,384	17,452	19,223
Costs and expenses
Interest	[2]	1,151	1,061	3,096	3,184
Operating and administrative	[2]	2,255	2,032	6,714	6,076
Cost of goods sold	[2]	18	25	58	81
Investment contracts insurance losses and insurance annuity benefits	[2]	717	700	2,070	2,041
Provision for losses on financing receivables (Note 4)	[2]	738	858	4,636	2,693
Depreciation and amortization	[2]	663	825	1,841	1,929
Total costs and expenses	[2]	5,542	5,501	18,415	16,004
Earnings (loss) from continuing operations before income taxes	[2]	769	883	(963)	3,219
Benefit (provision) for income taxes	[2]	48	15	6,164	(109)
Earnings (loss) from continuing operations	[2]	817	898	(7,127)	3,328
Earnings (loss) from discontinued operations, net of taxes (Note 2)	[2]	(347)	706	(10,332)	2,070
Net earnings (loss)	[2]	470	1,604	(17,459)	5,398
Less net earnings (loss) attributable to noncontrolling interests	[2]	83	55	267	76
Net earnings (loss) attributable to GECC	[2]	387	1,549	(17,726)	5,322
Preferred stock dividends declared	[2]	0	0	(161)	(161)
Net earnings (loss) attributable to GECC common shareowner	[2]	387	1,549	(17,887)	5,161
Amounts attributable to GECC common shareowner:
Earnings (loss) from continuing operations	[2]	817	898	(7,127)	3,328
Less net earnings (loss) attributable to noncontrolling interests	[2]	83	55	267	76
Earnings (loss) from continuing operations attributable to GECC	[2]	734	843	(7,394)	3,252
Preferred stock dividends declared	[2]	0	0	(161)	(161)
Earnings (loss) from continuing operations attributable to GECC common shareowner	[2]	734	843	(7,555)	3,091
Earnings (loss) from discontinued operations, net of taxes	[2]	(347)	706	(10,332)	2,070
Net earnings (loss) attributable to GECC common shareowner	[2]	$ 387	$ 1,549	$ (17,887)	$ 5,161

[1] (a) Excluding net other-than-temporary impairment on investment securities.

[2] Amounts may not add due to rounding.

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Investment Securities (Impairments) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2012
Pre-tax, Other-Than-Temporary Impairments on Investment Securities
Total pre tax, OTTI recognized	[1]	$ 2	$ 2	$ 21	$ 18
Less other-than-temporary impairment recognized in accumulated other comprehensive income	[1]	0	0	0	4
Net other-than-temporary impairments on investment securities	[1]	2	2	21	14
Other Than Temporary Impairment Related To Equity Securities					2	$ 0
Changes in Cumulative Credit Loss Impairments Recognized on Debt Securities
Cumulative credit loss impairments recognized, beginning of period		6	255
Credit loss impairments recognized on securities not previously impaired		0	0	0	0
Incremental credit loss impairments recognized on securities previously impaired		0	2	0	4
Less: credit loss impairments previously recognized on securities sold during the period		0	0	2	53
Cumulative credit loss impairments recognized, end of period		$ 6	$ 257	$ 6	$ 257

[1] Amounts may not add due to rounding.

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Consolidated Statement of Financial Position (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Balance Sheet Related Disclosures [Abstract]
Accumulated amortization	$ 16,651	$ 16,462
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	750,000	750,000
Preferred Stock, Shares Issued	50,000	50,000
Preferred Stock, Shares Outstanding	50,000	50,000
Common Stock, Par or Stated Value Per Share	$ 14	$ 14
Common Stock, Shares Authorized	4,166,000	4,166,000
Common Stock, Shares, Issued	1,000	1,000
Common Stock, Shares, Outstanding	1,000	1,000
Assets of consolidated variable interest entities that can only be used to settle the liabilities of those VIEs	$ 41,815
Assets of discontinued operations of certain VIEs that can only be used to settle liabilities of those VIEs	11,427
Current receivables and net financing receivables of certain VIEs that can only be used to settle liabilities of those VIEs	27,701
Investment securities of certain VIEs that can only be used to settle the liabilities of those VIEs	1,412
Nonrecourse Borrowings Of Consolidated Securitization Entities Where VIE Creditors Do Not Have Recourse To Company	16,225
Nonrecourse borrowings of discontinued operations of securitization entities where VIE creditors do not have recourse to company	8,072
Sum of accumulated other comprehensive income - net	(1,593)	$ (577)
Accumulated other comprehensive income - net attributable to noncontrolling interests	$ (178)	$ (154)

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Shareowners' Equity - Narrative (Details) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Preferred Stock, Shares Issued	50,000	50,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01

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Operating Segments (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Operating Segments [Abstract]

Revenues by segment [Table Text Block]

SUMMARY OF OPERATING SEGMENTS
	Three months ended September 30						Nine months ended September 30
(In millions)	2015		2014		V%		2015		2014		V%
Revenues
CLL	$	285	$	251		14 %	$	790	$	743		6 %
Consumer		3,652		3,622		1 %		9,237		10,822		(15)%
Energy Financial Services		225		344		(35)%		906		1,120		(19)%
GECAS		1,307		1,262		4 %		3,935		3,952		- %
Total segment revenues		5,468		5,479		- %		14,867		16,637		(11)%
GECC corporate items and eliminations		843		905		(7)%		2,585		2,586		- %
Total revenues	$	6,312	$	6,384		(1)%	$	17,452	$	19,223		(9)%
Segment profit (loss)
CLL	$	111	$	90		23 %	$	286	$	252		13 %
Consumer		795		621		28 %		(1,521)		1,879		U
Energy Financial Services		(38)		61		U		106		290		(63)%
GECAS		313		133		F		981		828		18 %
Total segment profit (loss)		1,180		905		30 %		(149)		3,249		U
GECC corporate items and eliminations		(445)		(62)		U		(7,245)		3		U
Earnings (loss) from continuing operations attributable to GECC		734		843		(13)%		(7,394)		3,252		U
Preferred stock dividends declared		-		-		- %		(161)		(161)		- %
Earnings (loss) from continuing operations attributable to
GECC common shareowner		734		843		(13)%		(7,555)		3,091		U
Earnings (loss) from discontinued operations, net of taxes		(347)		706		U		(10,332)		2,070		U
Net earnings (loss) attributable to GECC common shareowner	$	387	$	1,549		(75)%	$	(17,887)	$	5,161		U

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Revenues from Services (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2014
Subsidiary Revenue From Services [Line Items]
Interest on loans		$ 3,010	$ 3,128	$ 8,902	$ 9,194
Revenues from services (Note 9)	[1]	6,290	6,356	17,388	19,134
Net other-than-temporary impairments on investment securities						$ 0
Assets	[1],[2]	433,819		433,819			$ 502,570
Financing Receivable, Net	[1]	83,748		83,748			122,457
Liabilities	[1],[2]	362,493		362,493			412,172
Deposits		48,656		48,656			43,841
Revenues	[1]	6,312	6,384	17,452	19,223
Significant associated companies [Member]
Subsidiary Revenue From Services [Line Items]
Assets		54,302		54,302			78,632
Financing Receivable, Net		25,334		25,334			46,481
Liabilities		37,402		37,402			$ 57,273
Revenues		2,990	3,612	9,469	14,162
Net earnings		$ 328	$ 784	$ 1,030	$ 2,281

[1] Amounts may not add due to rounding.

[2] (a) Our consolidated assets at September 30, 2015 included total assets of $ 41,815 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $ 27,701 million and investment securities of $ 1,412 million with in continuing operations and assets of discontinued operations of $ 11,427 million . Our consolidated liabilities at September 30, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GECC. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $ 16,225 million within continuing operations and non-recourse borrowings of CSEs within discontinu ed operations of $ 8,072 million . See N ote 12 .

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Summary of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Businesses and Assets Held for Sale Policy

BUSINESSES AND ASSETS HELD FOR SALE

Businesses held for sale represent components that meet accounting requirements to be classified as held for sale and are presented as single asset and liability amounts in our financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value less cost to sell. Financing receivables that no longer qualify to be presented as held for investment must be classified as held for sale and recognized in our financial statements at the lower of cost or fair value, less cost to sell, with that amount representing a new cost basis at the date of transfer.

As previously discussed, as a result of the GE Capital Exit Plan, management has committed to reduce the size of its financial services businesses through the sale of most of the assets of GECC over the following 24 months. As a result, certain GECC businesses met the criteria to be classified as businesses held for sale and certain financing receivables were required to be recognized as held for sale at September 30, 2015.

The determination of fair value for businesses and portfolios of financing receivables involves significant judgments and assumptions. Development of estimates of fair values in this circumstance is complex and is dependent upon, among other factors, the nature of the potential sales transaction (for example, asset sale versus sale of legal entity), composition of assets and/or businesses in the disposal group, the comparability of the disposal group to market transactions, negotiations with third party purchasers etc. Such factors bear directly on the range of potential fair values and the selection of the best estimates. Key assumptions were developed based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction as of September 30, 2015.

We review all businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values

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Operating Segment Table - MD&A (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Total revenues	[1]	$ 6,312	$ 6,384	$ 17,452	$ 19,223
Income tax expense (benefit)	[1]	(48)	(15)	(6,164)	109
Interest on loans		3,010	3,128	8,902	9,194
Earnings (loss) from continuing operations attributable to GECC	[1]	734	843	(7,394)	3,252
Preferred stock dividends declared	[1]	0	0	161	161
Earnings (loss) from continuing operations attributable to GECC common shareowner	[1]	734	843	(7,555)	3,091
Earnings (loss) from discontinued operations, net of taxes	[1]	(347)	706	(10,332)	2,070
Net earnings (loss) attributable to GECC	[1]	$ 387	1,549	$ (17,887)	5,161
Variance in revenues		(1.00%)		(9.00%)
Variance in earnings from continuing operations		(13.00%)
Variance in earnings loss from continuing operations fav unfav				U
Variance in earnings from discontinued operations fav unfav		U		U
Variance in net income		(75.00%)
Variance in net income fav unfav				U
Variance in preferred stock				0.00%
Variance in earnings from cont op attributable to GECC shareowners		(13.00%)
Variance in earnings from cont op attributable to GECC shareowners fav unfav				U
Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 5,468	5,479	$ 14,867	16,637
Segment profit		$ 1,180	905	$ (149)	3,249
Variance in revenues		0.00%		(11.00%)
Variance in segment profit		30.00%
Variance in segment profit fav unfav				U
CLL | Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 285	251	$ 790	743
Segment profit		$ 111	90	$ 286	252
Variance in revenues		14.00%		6.00%
Variance in segment profit		23.00%		13.00%
Consumer | Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 3,652	3,622	$ 9,237	10,822
Segment profit		$ 795	621	$ (1,521)	1,879
Variance in revenues		1.00%		(15.00%)
Variance in segment profit		28.00%
Variance in segment profit fav unfav				U
Energy Financial Services | Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 225	344	$ 906	1,120
Segment profit		$ (38)	61	$ 106	290
Variance in revenues		(35.00%)		(19.00%)
Variance in segment profit				(63.00%)
Variance in segment profit fav unfav		U
GECAS | Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 1,307	1,262	$ 3,935	3,952
Segment profit		$ 313	133	$ 981	828
Variance in revenues		4.00%		0.00%
Variance in segment profit				18.00%
Variance in segment profit fav unfav		F
Corporate Items And Eliminations [Member] | Operating segments
Segment Reporting Information [Line Items]
Total revenues		$ 843	905	$ 2,585	2,586
Segment profit		$ (445)	$ (62)	$ (7,245)	$ 3
Variance in revenues		(7.00%)		0.00%
Variance in segment profit fav unfav		U		U

[1] Amounts may not add due to rounding.

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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Investments

	September 30, 2015								December 31, 2014
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
(In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value
Debt
U.S. corporate	$	19,975	$	3,102	$	(178)	$	22,899	$	19,810	$	3,962	$	(69)	$	23,703
State and municipal		3,972		439		(71)		4,340		4,173		555		(53)		4,675
Residential mortgage-backed(a)		905		84		(5)		984		1,544		153		(5)		1,692
Commercial mortgage-backed		2,295		121		(12)		2,405		2,903		170		(10)		3,063
Asset-backed		107		1		(10)		97		304		8		(17)		295
Corporate – non-U.S.		769		101		(3)		867		908		109		(1)		1,016
Government – non-U.S.		1,094		158		(1)		1,252		1,560		152		(2)		1,710
U.S. government and federal agency		3,783		99		-		3,882		1,957		56		-		2,013
Equity
Available-for-sale		113		16		(4)		125		109		24		(1)		132
Trading		19		-		-		19		21		-		-		21
Total	$	33,032	$	4,121	$	(285)	$	36,868	$	33,289	$	5,189	$	(158)	$	38,320

(a)Substantially collateralized by U.S. mortgages. At September 30, 2015, $961million related to securities issued by government-sponsored entities and $23million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

Schedule of investments, by type and length in continuous loss position

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
(In millions)	fair value		losses		(a)	fair value		losses		(a)
September 30, 2015
Debt
U.S. corporate	$	2,161	$	(130)		$	335	$	(48)
State and municipal		544		(16)			155		(55)
Residential mortgage-backed		175		(2)			77		(3)
Commercial mortgage-backed		351		(8)			26		(4)
Asset-backed		-		-			48		(10)
Corporate – non-U.S.		41		(3)			3		-
Government – non-U.S.		292		(1)			-		-
U.S. government and federal agency		450		-			1		-
Equity		38		(4)			-		-
Total	$	4,052	$	(164)		$	645	$	(121)	(b)
December 31, 2014
Debt
U.S. corporate	$	554	$	(16)		$	836	$	(53)
State and municipal		67		(1)			308		(52)
Residential mortgage-backed		30		-			146		(5)
Commercial mortgage-backed		165		(1)			204		(9)
Asset-backed		9		-			42		(17)
Corporate – non-U.S.		42		(1)			3		-
Government – non-U.S.		677		(2)			14		-
U.S. government and federal agency		705		-			1		-
Equity		6		(1)			-		-
Total	$	2,255	$	(22)		$	1,554	$	(136)

(a) Included gross unrealized losses of $1 million related to securities that had other-than-temporary impairments previously recognized at September 30, 2015.

(b) Includes debt securities held to support obligations to holders of GICs all of which are considered to be investment-grade by the major rating agencies at September 30, 2015.  

Pre Tax Other Than Temporary Impairments On Investment Securities [Table Text Block]

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Total pre-tax, OTTI recognized	$	2	$	2	$	21	$	18
Pre-tax, OTTI recognized in AOCI		-		-		-		(4)
Pre-tax, OTTI recognized in earnings(a)	$	2	$	2	$	21	$	14

(a)Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million and none inthe three months endedSeptember 30, 2015 and 2014, respectivelyand $1 million and $2million in the nine months endedSeptember 30, 2015 and 2014, respectively.

Changes in Cumulative Cerdit Loss Impairments Recognized on Debt Securities Still Held

CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Cumulative credit loss impairments recognized, beginning of period	$	6	$	255	$	8	$	306
Credit loss impairments recognized
on securities not previously impaired		-		-		-		-
Incremental credit loss impairments recognized
on securities previously impaired		-		2		-		4
Less credit loss impairments previously recognized
on securities sold during the period or that we intend to sell		-		-		2		53
Cumulative credit loss impairments recognized, end of period	$	6	$	257	$	6	$	257

Schedule of contractual maturities

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES)
	Amortized		Estimated
(In millions)	cost		fair value
Due
Within one year	$	2,162	$	2,171
After one year through five years		4,656		4,868
After five years through ten years		4,854		5,217
After ten years		17,921		20,983

Supplemental gross realized gains losses on available-for-sale investment securities

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Gains	$	21	$	1	$	122	$	37
Losses, including impairments		(6)		(5)		(41)		(18)
Net	$	15	$	(4)	$	81	$	19

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Fair Value Measurements (Non-Recurring) (Details) - Non-recurring [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjustment to assets measured at fair value on non recurring basis	$ (410)	$ (373)	$ (4,064)	$ (721)
Financing receivables and loans held for sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjustment to assets measured at fair value on non recurring basis	(46)	(31)	(2,199)	(135)
Cost and equity method investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjustment to assets measured at fair value on non recurring basis	(279)	(80)	(1,741)	(274)
Long Lived Assets, Including Real Estate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjustment to assets measured at fair value on non recurring basis	(85)	$ (262)	(125)	$ (312)
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	4		4		$ 103
Fair Value, Inputs, Level 2 | Financing receivables and loans held for sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	0		0		1
Fair Value, Inputs, Level 2 | Cost and equity method investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	1		1		0
Fair Value, Inputs, Level 2 | Long Lived Assets, Including Real Estate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	3		3		102
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	20,785		20,785		1,636
Fair Value, Inputs, Level 3 | Financing receivables and loans held for sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	18,152		18,152		584
Fair Value, Inputs, Level 3 | Cost and equity method investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	2,336		2,336		334
Fair Value, Inputs, Level 3 | Long Lived Assets, Including Real Estate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets Fair Value Disclosure	$ 296		$ 296		$ 718

XML

Consolidated Statement of Cash Flows (unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows - operating activities
Net earnings	[1]	$ (17,459)	$ 5,398
Less net earnings (loss) attributable to noncontrolling interests	[1]	267	76
Net earnings (loss) attributable to the Company	[1]	(17,726)	5,322
(Earnings) loss from discontinued operations	[1]	10,332	(2,070)
Adjustments to reconcile net earnings attributable to GECC to cash provided from operating activities
Depreciation and amortization of property, plant and equipment	[1]	1,841	1,929
Deferred income taxes	[1]	2,772	(689)
Increase (decrease) in accounts payable	[1]	165	764
Provision for losses on financing receivables	[1]	4,636	2,693
All other operating activities	[1]	1,934	(1,174)
Cash from (used for) operating activities - continuing operations	[1]	3,954	6,775
Cash from (used for) operating activities - discontinued operations	[1]	3,090	5,078
Cash from (used for) operating activities	[1]	7,044	11,853
Cash flows - investing activities
Additions to property, plant and equipment	[1]	(2,643)	(2,627)
Dispositions of property, plant and equipment	[1]	2,074	2,059
Net decrease (increase) in financing receivables	[1]	(39,744)	(54,829)
Principal collections from customers - loans	[1]	45,570	55,025
Investment in equipment for financing leases	[1]	(458)	(787)
Principal collections from customers - financing leases	[1]	834	1,956
Proceeds from sale of discontinued operations	[1]	42,486	232
Net change in credit card receivables	[1]	(1,667)	(2,950)
Proceeds from principal business dispositions	[1]	1,274	0
Net cash from (payments for) principal businesses purchased	[1]	(1,677)	0
All other investing activities	[1]	9,608	8,957
Cash from (used for) investing activities - continuing operations	[1]	55,657	7,036
Cash from (used for) investing activities - discontinued operations	[1]	7,218	(3,588)
Cash from (used for) investing activities	[1]	62,875	3,448
Cash flows - financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	[1]	(17,526)	(6,723)
Net increase (decrease) in bank deposits	[1]	5,329	6,933
Newly issued debt (maturities longer than 90 days)
Newly issued debt (maturities longer than 90 days)	[1]	14,336	26,547
Repayments and other debt reductions (maturities longer than 90 days)
Repayments and other debt reductions (maturities longer than 90 days)	[1]	(43,850)	(37,439)
Dividends paid to shareowners	[1]	(611)	(2,382)
Synchrony Financial	[1]	0	2,842
All other financing activities	[1]	(1,363)	(359)
Cash from (used for) financing activities - continuing operations	[1]	(43,685)	(10,581)
Cash from (used for) financing activities - discontinued operations	[1]	(4,496)	1,540
Cash from (used for) financing activities	[1]	(48,181)	(9,041)
Effect of currency exchange rate changes on cash and equivalents	[1]	(3,038)	(1,267)
Increase (decrease) in cash and equivalents	[1]	18,700	4,993
Cash and equivalents at beginning of year		75,101	75,105
Cash and equivalents at quarter end		93,801	80,098
Less cash and equivalents of discontinued operations at quarter end		11,226	5,070
Cash and equivalents continuing operations at quarter end		$ 82,575	$ 75,028

[1] Amounts may not add due to rounding.

XML

Consolidated Statement of Comprehensive Income (unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	[1]	$ 470	$ 1,604	$ (17,459)	$ 5,398
Less net earnings (loss) attributable to noncontrolling interests	[1]	83	55	267	76
Net earnings (loss) attributable to the Company	[1]	387	1,549	(17,726)	5,322
Other comprehensive income (loss)
Investment securities	[1]	22	(260)	(431)	523
Currency translation adjustments	[1]	734	(546)	(596)	(510)
Cash flow hedges	[1]	(36)	90	(20)	188
Benefit plans	[1]	4	11	8	3
Other comprehensive income (loss)	[1]	725	(705)	(1,039)	204
Less: Other comprehensive income (loss) attributable to noncontrolling interests	[1]	(1)	(4)	(24)	1
Other comprehensive income (loss) attributable to Company	[1]	725	(701)	(1,015)	203
Comprehensive income (loss)	[1]	1,194	899	(18,498)	5,602
Less: Comprehensive income (loss) attributable to noncontrolling interests	[1]	82	51	243	77
Comprehensive income (loss) attributable to Company	[1]	$ 1,113	$ 848	$ (18,741)	$ 5,525

[1] Amounts may not add due to rounding.

XML

Fair Value Measurements

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 10. FAIR VALUE MEASUREMENTS

Recurring Fair Value Measurements

Our assets and liabilities measured at fair value on a recurring basis include investment securities primarily supporting obligations to annuitants and policyholders in our run-off insurance operations.

ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
									Netting
(In millions)	Level 1		(a)	Level 2		(a)	Level 3		adjustment		(b)	Net balance
September 30, 2015
Assets
Investment securities
Debt
U.S. corporate	$	-		$	19,853		$	3,046	$	-		$	22,899
State and municipal		-			4,259			81		-			4,340
Residential mortgage-backed		-			981			2		-			984
Commercial mortgage-backed		-			2,403			1		-			2,405
Asset-backed		-			59			38		-			97
Corporate ̶ non-U.S.		6			579			282		-			867
Government ̶ non-U.S.		14			1,238			-		-			1,252
U.S. government and federal agency		-			3,573			309		-			3,882
Equity
Available-for-sale		100			14			10		-			125
Trading		19			-			-		-			19
Derivatives(c)		-			7,465			67		(6,325)			1,207
Total	$	138		$	40,425		$	3,837	$	(6,325)		$	38,075
Liabilities
Derivatives	$	-		$	4,382		$	7	$	(4,378)		$	11
Other		-			19			-		-			19
Total	$	-		$	4,401		$	7	$	(4,378)		$	29
December 31, 2014
Assets
Investment securities
Debt
U.S. corporate	$	-		$	20,659		$	3,044	$	-		$	23,703
State and municipal		-			4,560			115		-			4,675
Residential mortgage-backed		-			1,676			16		-			1,692
Commercial mortgage-backed		-			3,054			9		-			3,063
Asset-backed		-			172			123		-			295
Corporate ̶ non-U.S.		-			680			336		-			1,016
Government ̶ non-U.S.		-			1,708			2		-			1,710
U.S. government and federal agency		-			1,747			266		-			2,013
Equity
Available-for-sale		108			15			9		-			132
Trading		21			-			-		-			21
Derivatives(c)		-			8,981			27		(7,378)			1,630
Total	$	129		$	43,252		$	3,947	$	(7,378)		$	39,950
Liabilities
Derivatives	$	-		$	4,218		$	9	$	(4,171)		$	56
Other		-			20			-		-			20
Total	$	-		$	4,238		$	9	$	(4,171)		$	76

(a)There were no securities transferred between Level 1 and Level 2 in the nine months endedSeptember 30, 2015. There were $487million of Government – non-U.S. and $13million of Corporate – non-U.S. available-for-sale debt securities transferred from Level 1 to Level 2 in the twelve months ended December 31, 2014 primarily attributable to changes in market observable data.

(b) The netting of derivative receivables and payables (including the effects of any collateral posted or received) is permitted when a legally enforceable master netting agreement exists.

(c)The fair value of derivatives includes an adjustment for non-performance risk. The cumulative adjustment was a gain (loss) of $2million and $15 million at September 30, 2015 and December 31, 2014, respectively. See Note 11 for additional information on the composition of our derivative portfolio.

Level 3 Instruments

The majority of our Level 3 balances consist of investment securities classified as available-for-sale with changes in fair value recorded in shareowners’ equity.

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE THREE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	July 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,019	$	5	$	(7)	$	74	$	(28)	$	(37)	$	35	$	(14)	$	3,046	$	-
State and municipal		101		-		1		-		-		(5)		-		(17)		81		-
RMBS		2		-		-		-		-		(1)		-		-		2		-
CMBS		2		-		-		-		-		-		-		-		1		-
ABS		76		(2)		-		-		-		-		-		(36)		38		-
Corporate – non-U.S.		283		-		-		-		-		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		293		-		16		-		-		-		-		-		309		-
Equity
Available-for-sale		6		-		(1)		-		-		-		6		-		10		-
Derivatives(d)(e)		71		1		-		1		-		-		-		-		72		-
Total	$	3,855	$	4	$	9	$	75	$	(28)	$	(44)	$	41	$	(69)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	3,032	$	4	$	(1)	$	102	$	(56)	$	(90)	$	32	$	-	$	3,023	$	-
State and municipal		110		-		2		2		-		(1)		-		-		113		-
RMBS		66		-		-		-		-		(3)		-		(47)		16		-
CMBS		11		-		-		-		-		(1)		-		-		10		-
ABS		130		1		2		-		-		(4)		-		-		129		-
Corporate – non-U.S.		499		-		(1)		-		-		(23)		-		-		475		-
Government – non-U.S.		1		-		-		-		-		-		-		(1)		-		-
U.S. government and
federal agency		249		-		6		-		-		-		9		-		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		9		-		-		-		-		-		-		-		9		-
Derivatives(d)(e)		22		3		1		(1)		-		(1)		-		-		24		2
Total	$	4,130	$	8	$	9	$	103	$	(56)	$	(124)	$	41	$	(48)	$	4,063	$	2

(a)Earnings effects are primarily included in the “Revenues from services” and “Interest” captions in the Statement of Earnings (Loss).

(b)Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c) Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the three months endedSeptember 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

CHANGES IN LEVEL 3 INSTRUMENTS FOR THE NINE MONTHS ENDED
																			Net
																			change in
			Net			Net													unrealized
			realized/			realized/													gains
			unrealized		unrealized														(losses)
			gains			gains													relating to
			(losses)		(losses)								Transfers		Transfers				instruments
	Balance at		included		included								into		out of		Balance at		still held at
(In millions)	January 1		in earnings(a)		in AOCI		Purchases		Sales		Settlements		Level 3(b)		Level 3(b)		September 30		September 30(c)
2015
Investment securities
Debt
U.S. corporate	$	3,044	$	16	$	(93)	$	248	$	(83)	$	(93)	$	35	$	(27)	$	3,046	$	-
State and municipal		115		-		(3)		-		-		(15)		-		(17)		81		-
RMBS		16		5		(4)		-		(15)		(1)		-		-		2		-
CMBS		9		-		-		-		(7)		-		-		-		1		-
ABS		123		(16)		(5)		-		(12)		(3)		-		(49)		38		-
Corporate – non-U.S.		336		-		(4)		-		(49)		(1)		-		-		282		-
Government – non-U.S.		2		-		-		-		-		-		-		(2)		-		-
U.S. government and
federal agency		266		-		44		-		-		(1)		-		-		309		-
Equity
Available-for-sale		9		2		(3)		6		(5)		(4)		6		-		10		-
Derivatives(d)(e)		28		-		3		-		-		-		42		-		72		-
Total	$	3,948	$	7	$	(65)	$	254	$	(171)	$	(118)	$	83	$	(95)	$	3,842	$	-
2014
Investment securities
Debt
U.S. corporate	$	2,751	$	22	$	126	$	440	$	(212)	$	(158)	$	170	$	(116)	$	3,023	$	-
State and municipal		96		-		9		12		-		(4)		-		-		113		-
RMBS		86		1		-		-		(16)		(8)		-		(47)		16		-
CMBS		10		-		-		-		-		(2)		2		-		10		-
ABS		145		3		6		-		-		(15)		-		(10)		129		-
Corporate – non-U.S.		503		13		42		-		(54)		(24)		1		(6)		475		-
Government – non-U.S.		31		-		-		-		-		-		-		(31)		-		-
U.S. government and
federal agency		225		-		32		-		-		-		9		(2)		264		-
Retained interests		1		-		-		-		-		(1)		-		-		-		-
Equity
Available-for-sale		11		-		-		2		(2)		(2)		-		-		9		-
Derivatives(d)(e)		19		7		1		(1)		-		(1)		(1)		-		24		12
Total	$	3,878	$	46	$	216	$	453	$	(284)	$	(215)	$	181	$	(212)	$	4,063	$	12

(a) Earnings effects are primarily included in the “Revenues from services” and “Interest” captions in the Statement of Earnings (Loss).

(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period. Transfers out of Level 3 were primarily a result of increased use of quotes from independent pricing vendors based on recent trading activity.

(c) Represents the amount of unrealized gains or losses for the period included in earnings.

(d) Represents derivative assets net of derivative liabilities and included cash accruals of $12 million and $9 million not reflected in the fair value hierarchy table for the nine months endedSeptember 30, 2015 and 2014, respectively.

(e) Gains (losses) included in net realized/unrealized gains (losses) included in earnings were offset by the earnings effects from the underlying items that were economically hedged. See Note 11.

Non-Recurring Fair Value Measurements

The following table represents non-recurring fair value amounts (as measured at the time of the adjustment) for those assets remeasured to fair value on a non-recurring basis during the fiscal year and still held at September 30, 2015 and December 31, 2014.

	Remeasured during				Remeasured during
	the nine months ended				the year ended
	September 30, 2015				December 31, 2014
(In millions)	Level 2		Level 3		Level 2		Level 3
Financing receivables and financing receivables held for sale	$	-	$	18,152	$	1	$	584
Cost and equity method investments		1		2,336		-		334
Long-lived assets, including real estate		3		296		102		718
Total	$	4	$	20,785	$	103	$	1,636

The following table represents the fair value adjustments to assets measured at fair value on a non-recurring basis and still held at September 30, 2015and 2014.

	Three months ended September 30				Nine months ended September 30
(In millions)		2015	2014		2015		2014
Financing receivables and financing receivables held for sale	$	(46)	$	(31)	$	(2,199)	$	(135)
Cost and equity method investments		(279)		(80)		(1,741)		(274)
Long-lived assets, including real estate		(85)		(262)		(125)		(312)
Total	$	(410)	$	(373)	$	(4,064)	$	(721)

LEVEL 3 MEASUREMENTS - SIGNIFICANT UNOBSERVABLE INPUTS
					Range
(Dollars in millions)	Fair value		Valuation technique	Unobservable inputs	(weighted average)
September 30, 2015
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	863	Income approach	Discount rate(a)	2.2%-15.3% (7.4%)
Asset-backed		38	Income approach	Discount rate(a)	5.0%-10.0% (9.1%)
Corporate ̶ non-U.S.		226	Income approach	Discount rate(a)	6.5%-14.0% (7.4%)
Non-recurring fair value measurements
Financing receivables and financing receivables held for sale	$	18,015	Income approach	Discount rate(a)	5.6%-8.0% (6.7%)
Cost and equity method investments		2,134	Income approach,	Discount rate(a)	9.0%-14.5% (11.8%)
			Market comparables	Price to book multiple	0.4X-0.7X (0.6X)
Long-lived assets, including real estate		198	Income approach	Discount rate(a)	1.7%-9.8% (6.2%)
December 31, 2014
Recurring fair value measurements
Investment securities - Debt
U.S. corporate	$	917	Income approach	Discount rate(a)	1.5%-14.8% (6.6%)
State and municipal		17	Income approach	Discount rate(a)	4.9%-4.9% (4.9%)
Asset-backed		102	Income approach	Discount rate(a)	4.3%-9.0% (5.6%)
Corporate ̶ non-U.S.		278	Income approach	Discount rate(a)	3.3%-14.0% (6.5%)
Non-recurring fair value measurements
Cost and equity method investments		309	Income approach	Discount rate(a)	8.0%-10.0% (9.4%)
			Market comparables	EBITDA multiple	1.8X-5.2X (4.8X)
Long-lived assets, including real estate		664	Income approach	Discount rate(a)	2.0%-10.8% (6.7%)

(a) Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value.

At September 30, 2015 and December 31, 2014, other Level 3 recurring fair value measurements of $2,689 million and $2,594 million, respectively, and non-recurring measurements of $267 million and $657 million, respectively, are valued using non-binding broker quotes or other third-party sources. At September 30, 2015 and December 31, 2014, other recurring fair value measurements of $14 million and $30 million, respectively, and non-recurring fair value measurements of $171 million and $6 million, respectively, were individually insignificant and utilize a number of different unobservable inputs not subject to meaningful aggregation. 

XML

Document and Entity Information $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($) shares
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	General Electric Capital Corp
Entity Central Index Key	0000040554
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well Known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding	1,000
Entity Public Float | $	$ 0

XML

Financial Instruments

9 Months Ended

Sep. 30, 2015

Financial Instruments [Abstract]

Financial Instruments

NOTE 11. FINANCIAL INSTRUMENTS

The following table provides information about assets and liabilities not carried at fair value. The table excludes finance leases and non-financial assets and liabilities. Substantially all of the assets discussed below are considered to be Level 3. The vast majority of our liabilities’ fair value can be determined based on significant observable inputs and thus considered Level 2. Few of the instruments are actively traded and their fair values must often be determined using financial models. Realization of the fair value of these instruments depends upon market forces beyond our control, including marketplace liquidity.

	September 30, 2015						December 31, 2014
			Assets (liabilities)						Assets (liabilities)
	Notional		Carrying		Estimated		Notional		Carrying		Estimated
(In millions)	amount		amount (net)		fair value		amount		amount (net)		fair value
Assets
Loans	$	(a)	$	78,775	$	85,107	$	(a)	$	115,889	$	120,067
Other commercial mortgages		(a)		1,392		1,520		(a)		1,427		1,508
Loans held for sale		(a)		22,651		23,039		(a)		778		799
Other financial instruments(b)		(a)		161		195		(a)		122		136
Liabilities
Borrowings and bank deposits(c)(d)(e)		(a)		(271,944)		(283,092)		(a)		(317,674)		(333,956)
Investment contract benefits		(a)		(2,821)		(3,327)		(a)		(2,970)		(3,565)
Guaranteed investment contracts		(a)		(179)		(193)		(a)		(1,000)		(1,031)
Insurance - credit life(f)		-		-		-		1,843		(90)		(77)

(a)These financial instruments do not have notional amounts.

(b) Principally comprises cost method investments.

(c) See Note 6.

(d) Fair values exclude interest rate and currency derivatives designated as hedges of borrowings. Had they been included, the fair value of borrowings at September 30, 2015 and December 31, 2014 would have been reduced by $4,710 million and $5,020 million, respectively.

(e) Included $1,994 million and $2,888million of accrued interest in estimated fair value at September 30, 2015 and December 31, 2014, respectively.

(f) Net of reinsurance of none and $964 million at September 30, 2015 and December 31, 2014, respectively.

NOTIONAL AMOUNTS OF LOAN COMMITMENTS
(In millions)	September 30, 2015		December 31, 2014
Ordinary course of business lending commitments(a)	$	804	$	1,214
Unused revolving credit lines(b)
Commercial		2,054		2,908
Consumer – principally credit cards		321,710		306,188

(a) Excluded investment commitments of $579 million and $818 million at September 30, 2015 and December 31, 2014, respectively.

(b) Excluded amounts related to inventory financing arrangements, which may be withdrawn at our option, of $39 million and $47 million at September 30, 2015 and December 31, 2014, respectively.

Securities Repurchase and Reverse Repurchase Arrangements

Our issuances of securities repurchase agreements are insignificant and are limited to activities at certain of our foreign banks primarily for purposes of liquidity management. At September 30, 2015, we were party to repurchase agreements totaling $132 million, which were reported in short-term borrowings on the financial statements. No repurchase agreements were accounted for as off-book financing and we do not engage in securities lending transactions.

We also enter into reverse securities repurchase agreements, primarily for short-term investment with maturities of 90 days or less. At September 30, 2015, we were party to reverse repurchase agreements totaling $10.0 billion, which were reported in cash and equivalents on the financial statements. Under these reverse securities repurchase agreements, we typically lend available cash at a specified rate of interest and hold U.S. or highly-rated European government securities as collateral during the term of the agreement. Collateral value is in excess of amounts loaned under the agreements.

Derivatives and Hedging

As a matter of policy, we use derivatives for risk management purposes and we do not use derivatives for speculative purposes. A key risk management objective for our financial services businesses is to mitigate interest rate and currency risk by seeking to ensure that the characteristics of the debt match the assets they are funding. If the form (fixed versus floating) and currency denomination of the debt we issue do not match the related assets, we typically execute derivatives to adjust the nature and tenor of funding to meet this objective within pre-defined limits. The determination of whether we enter into a derivative transaction or issue debt directly to achieve this objective depends on a number of factors, including market related factors that affect the type of debt we can issue.

The notional amounts of derivative contracts represent the basis upon which interest and other payments are calculated and are reported gross, except for offsetting foreign currency forward contracts that are executed in order to manage our currency risk of net investment in foreign subsidiaries. Of the outstanding notional amount of $250,000 million, approximately 99% or $247,000million is associated with reducing or eliminating the interest rate, currency or market risk between financial assets and liabilities in our financial services businesses. The instruments used in these activities are designated as hedges when practicable. When we are not able to apply hedge accounting, or when the derivative and the hedged item are both recorded in earnings concurrently, the derivatives are deemed economic hedges and hedge accounting is not applied. This most frequently occurs when we hedge a recognized foreign currency transaction (e.g., a receivable or payable) with a derivative. Since the effects of changes in exchange rates are reflected concurrently in earnings for both the derivative and the transaction, the economic hedge does not require hedge accounting.

FAIR VALUE OF DERIVATIVES
	September 30, 2015				December 31, 2014
(In millions)	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Interest rate contracts	$	5,579	$	53	$	5,859	$	461
Currency exchange contracts		1,382		1,234		2,435		779
Other contracts		-		-		-		-
		6,961		1,287		8,294		1,240
Derivatives not accounted for as hedges
Interest rate contracts		144		61		111		68
Currency exchange contracts		383		3,033		595		2,910
Other contracts		44		8		8		9
		571		3,102		714		2,987
Gross derivatives recognized in statement of
financial position
Gross derivatives		7,532		4,389		9,008		4,227
Gross accrued interest		978		9		1,392		(24)
		8,510		4,398		10,400		4,203
Amounts offset in statement of financial position
Netting adjustments(a)		(3,481)		(3,483)		(3,695)		(3,710)
Cash collateral(b)		(2,844)		(895)		(3,683)		(461)
		(6,325)		(4,378)		(7,378)		(4,171)
Net derivatives recognized in statement of
financial position
Net derivatives		2,185		20		3,022		32
Amounts not offset in statement of
financial position
Securities held as collateral(c)		(1,510)		-		(3,003)		-
Net amount	$	675	$	20	$	19	$	32

Derivatives are classified in the captions “Other assets” and “Other liabilities” and the related accrued interest is classified in “Other receivables” and “Other liabilities” in our financial statements.

• The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. At September 30, 2015 and December 31, 2014, the cumulative adjustment for non-performance risk was a gain (loss) of $2 million and $15 million, respectively.
• Excluded excess cash collateral received and posted of $53 million and $66 million at September 30, 2015, respectively, and $58 million and $211 million at December 31, 2014, respectively.
• Excluded excess securities collateral received of $34 million and $385million at September 30, 2015 and December 31, 2014, respectively.

FAIR VALUE HEDGES

We use interest rate and currency exchange derivatives to hedge the fair value effects of interest rate and currency exchange rate changes on local and non-functional currency denominated fixed-rate debt. For relationships designated as fair value hedges, changes in fair value of the derivatives are recorded in earnings within interest along with offsetting adjustments to the carrying amount of the hedged debt.

EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Three months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	1,391	$	(1,387)	$	341	$	(350)
Currency exchange contracts		(6)		5		(8)		8

Fair value hedges resulted in $3 million and $(9)million of ineffectiveness in the three months endedSeptember 30,2015 and 2014, respectively. In both the three months endedSeptember 30,2015 and 2014, there were insignificant amounts excluded from the assessment of effectiveness.

EARNINGS EFFECTS OF FAIR VALUE HEDGING RELATIONSHIPS
	Nine months ended September 30
		2015				2014
		Gain (loss)		Gain (loss)		Gain (loss)		Gain (loss)
		on hedging		on hedged		on hedging		on hedged
(In millions)		derivatives		items		derivatives		items
Interest rate contracts	$	514	$	(594)	$	2,056	$	(2,129)
Currency exchange contracts		(6)		4		(11)		10

Fair value hedges resulted in $(82) million and $(74)million of ineffectiveness in the nine months endedSeptember 30,2015 and 2014, respectively. In both the nine months endedSeptember 30,2015 and 2014, there were insignificant amounts excluded from the assessment of effectiveness.

CASH FLOW HEDGES

We use interest rate, currency exchange and commodity derivatives to reduce the variability of expected future cash flows associated with variable rate borrowings and commercial purchase and sale transactions, including commodities. For derivatives that are designated in a cash flow hedging relationship, the effective portion of the change in fair value of the derivative is reported as a component of AOCI and reclassified into earnings contemporaneously and in the same caption with the earnings effects of the hedged transaction.

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	10	$	9	$	(39)	$	(53)
Currency exchange contracts		(136)		(302)		(75)		(377)
Total(a)	$	(126)	$	(293)	$	(113)	$	(430)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

					Gain (loss) reclassified
	Gain (loss) recognized in AOCI				from AOCI into earnings
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest rate contracts	$	-	$	-	$	(100)	$	(182)
Currency exchange contracts		(794)		(267)		(600)		(387)
Total(a)	$	(794)	$	(267)	$	(699)	$	(569)

(a)Gain (loss) is recorded in revenues from services and interest when reclassified to earnings.

The total pre-tax amount in AOCI related to cash flow hedges of forecasted transactions was a $213 million loss at September 30, 2015. We expect to transfer $189million to earnings as an expense in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. In both the nine months endedSeptember 30,2015 and 2014,we recognized insignificant gains and losses related to hedged forecasted transactions and firm commitments that did not occur by the end of the originally specified period. At September 30, 2015 and 2014, the maximum term of derivative instruments that hedge forecasted transactions was 17years and 18 years, respectively. See Note 8for additional information about reclassifications out of AOCI.

For cash flow hedges, the amount of ineffectiveness in the hedging relationship and amount of the changes in fair value of the derivatives that are not included in the measurement of ineffectiveness were insignificant for each reporting period.

NET INVESTMENT HEDGES IN FOREIGN OPERATIONS

We use currency exchange derivatives to protect our net investments in global operations conducted in non-U.S. dollar currencies. For derivatives that are designated as hedges of net investment in a foreign operation, we assess effectiveness based on changes in spot currency exchange rates. Changes in spot rates on the derivatives are recorded as a component of AOCI until such time as the foreign entity is substantially liquidated or sold, or upon the loss of a controlling interest in a foreign entity. Additionally, lower of cost or fair value, less cost to sell, assessments of foreign entities classified as held for sale take into account the related AOCI. The change in fair value of any forward points, which reflects the interest rate differential between the two countries on the derivative, is excluded from the effectiveness assessment.

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the three months ended September 30				for the three months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	1,311	$	2,792	$	1,935	$	(24)

Reclassifications from CTA of $0 million and $(11)million were recorded in GECC revenues from services and $1,935 million and $(13)million in discontinued operations in the three months endedSeptember 30, 2015 and 2014, respectively.

The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(37) million and $(147) million in the three months endedSeptember 30, 2015 and 2014, respectively, and were recorded in interest and other financial charges.

GAINS (LOSSES) RECOGNIZED THROUGH CTA
	Gain (loss) recognized in CTA				Gain (loss) reclassified from CTA
	for the nine months ended September 30				for the nine months ended September 30
(In millions)	2015		2014		2015		2014
Currency exchange contracts	$	4,749	$	2,194	$	2,524	$	(14)

Reclassifications from CTA of $(34) million and $(11)million were recorded in GECC revenues from services and $2,558 million and $(3)million in discontinued operations in the nine months endedSeptember 30, 2015 and 2014, respectively.

The amounts related to the change in the fair value of the forward points that are excluded from the measure of effectiveness were $(93) million and $(458) million in the nine months endedSeptember 30, 2015 and 2014, respectively, and were recorded in interest and other financial charges.

FREE-STANDING DERIVATIVES

Changes in the fair value of derivatives that are not designated as hedges are recorded in earnings each period. As discussed above, these derivatives are typically entered into as economic hedges of changes in interest rates, currency exchange rates, commodity prices and other risks. Gains or losses related to the derivative are typically recorded in revenues from services, based on our accounting policy. In general, the earnings effects of the item that represent the economic risk exposure are recorded in the same caption as the derivative. Gains (losses) forthe nine months endedSeptember 30,2015on derivatives not designated as hedges were $(2,585) million composed of amounts related to interest rate contracts of $(101) million, currency exchange contracts of $(2,486) million, and other derivatives of $2 million. Substantially all of these losses were offset by the earnings effects from the underlying items that were economically hedged. Gains (losses) forthe nine months endedSeptember 30,2014on derivatives not designated as hedges were $(603) million composed of amounts related to interest rate contracts of $(53) million, currency exchange contracts of $(553) million and other derivatives of $3 million. These losses were offset by the earnings effects from the underlying items that were economically hedged.

COUNTERPARTY CREDIT RISK

Fair values of our derivatives can change significantly from period to period based on, among other factors, market movements and changes in our positions. We manage counterparty credit risk (the risk that counterparties will default and not make payments to us according to the terms of our agreements) on an individual counterparty basis. Where we have agreed to netting of derivative exposures with a counterparty, we net our exposures with that counterparty and apply the value of collateral posted to us to determine the exposure. We actively monitor these net exposures against defined limits and take appropriate actions in response, including requiring additional collateral.

As discussed above, we have provisions in certain of our master agreements that require counterparties to post collateral (typically, cash or U.S. Treasury securities) when our receivable due from the counterparty, measured at current market value, exceeds a specified limit. The fair value of such collateral was $4,354 million at September 30, 2015, of which $2,844 million was cash and $1,510 million was in the form of securities held by a custodian for our benefit. Under certain of these same agreements, we post collateral to our counterparties for our derivative obligations, the fair value of which was $895 million at September 30, 2015. At September 30, 2015, our exposure to counterparties (including accrued interest), net of collateral we hold, was $674 million. This excludes exposure related to embedded derivatives.

Additionally, our master agreements typically contain mutual downgrade provisions that provide the ability of each party to require termination if the long-term credit rating of the counterparty were to fall below A-/A3. In certain of these master agreements, each party also has the ability to require termination if the short-term rating of the counterparty were to fall below A-1/P-1. Our master agreements also typically contain provisions that provide termination rights upon the occurrence of certain other events, such as a bankruptcy or events of default by one of the parties. If an agreement was terminated under any of these circumstances, the termination amount payable would be determined on a net basis and could also take into account any collateral posted. The net amount of our derivative liability, after consideration of collateral posted by us and outstanding interest payments was $10 million at September 30, 2015. This excludes embedded derivatives.

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Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables (Past Due & Nonaccrual Financing Receivables) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Past Due Financing Receivables
Percent of Financing Receivable, Recorded Investment, Past Due Over 30 Days	3.80%	4.50%
Percent of Financing Receivable, Recorded Investment, Past Due Over 90 Days	1.50%	2.10%
Nonaccrual Financing Receivables
Percent Financing Receivable, Recorded Investment, Nonaccrual Status	0.40%	1.60%
Nonaccrual loans	$ 306	$ 1,996
90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	1,339	2,626
30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	3,273	5,747
CLL [Member]
Nonaccrual Financing Receivables
Nonaccrual loans	27	25
CLL [Member] | 90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	174	131
CLL [Member] | 30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	655	610
Energy Financial Services [Member]
Nonaccrual Financing Receivables
Nonaccrual loans	82	68
Energy Financial Services [Member] | 90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	63	0
Energy Financial Services [Member] | 30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	63	0
GECAS [Member]
Nonaccrual Financing Receivables
Nonaccrual loans	195	419
GECAS [Member] | 90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	0	0
GECAS [Member] | 30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	2	0
Commercial [Member]
Nonaccrual Financing Receivables
Nonaccrual loans	304	512
Amount of nonaccrual loans currently paying in accordance with contractual terms	228	484
Commercial [Member] | 90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	237	131
Commercial [Member] | 30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	720	610
Consumer [Member]
Past Due Financing Receivables
Loans which are 90+ days past due and still accruing interest	1,100	1,231
Nonaccrual Financing Receivables
Nonaccrual loans	2	1,484
Amount of nonaccrual loans currently paying in accordance with contractual terms	0	179
Consumer [Member] | 90 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	1,102	2,495
Consumer [Member] | 30 days or greater past due [Member]
Past Due Financing Receivables
Recorded Investment Past Due	$ 2,553	$ 5,137

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Consolidated Statement of Changes in Shareowners' Equity (unaudited) $ in Millions	USD ($)
Statement Of Changes In Shareowners Equity [Abstract]
Noncontrolling interests	$ 432	[1]
GECC shareowners' equity, begining balance, Jan 1 at Dec. 31, 2013	82,694
Statement Of Changes In Shareowners Equity [Abstract]
Net earnings (loss) attributable to the Company	5,322	[2]
Dividends and other transactions with shareowners	(2,382)	[2]
Other comprehensive income (loss) attributable to Company	203	[2]
Changes in additional paid-in capital	436	[2]
GECC shareowners' equity, ending balance, September 30 at Sep. 30, 2014	86,273
Statement Of Changes In Shareowners Equity [Abstract]
Noncontrolling interests	350
Net earnings (loss) attributable to the Company	1,549	[2]
Other comprehensive income (loss) attributable to Company	(701)	[2]
GECC shareowners' equity, ending balance, September 30 at Sep. 30, 2014	86,273
Statement Of Changes In Shareowners Equity [Abstract]
Noncontrolling interests	2,804
Total equity balance at September 30	89,077
Noncontrolling interests	2,899	[1],[2]
Total equity balance at September 30	90,398	[2]
GECC shareowners' equity, begining balance, Jan 1 at Dec. 31, 2014	87,499	[2]
Statement Of Changes In Shareowners Equity [Abstract]
Net earnings (loss) attributable to the Company	(17,726)	[2]
Dividends and other transactions with shareowners	(611)	[2]
Other comprehensive income (loss) attributable to Company	(1,015)	[2]
Changes in additional paid-in capital	20	[2]
GECC shareowners' equity, ending balance, September 30 at Sep. 30, 2015	68,166	[2]
Statement Of Changes In Shareowners Equity [Abstract]
Noncontrolling interests	3,083
Net earnings (loss) attributable to the Company	387	[2]
Other comprehensive income (loss) attributable to Company	725	[2]
GECC shareowners' equity, ending balance, September 30 at Sep. 30, 2015	68,166	[2]
Statement Of Changes In Shareowners Equity [Abstract]
Noncontrolling interests	3,160	[1],[2]
Total equity balance at September 30	$ 71,326	[2]

[1] (c) Included AOCI attributable to noncontrolling interests of $ (178) million and $ (154) million at September 30, 2015 and December 31, 2014 , respectively.

[2] Amounts may not add due to rounding.

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Goodwill and Other Intangibles Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE 5. ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

ACQUISITIONS

Upon closing an acquisition, we estimate the fair values of assets and liabilities acquired and consolidate the acquisition as quickly as possible. Given the time it takes to obtain pertinent information to finalize the acquired company’s balance sheet, then to adjust the acquired company’s accounting policies, procedures, and books and records to our standards, it is often several quarters before we are able to finalize those initial fair value estimates. Accordingly, it is not uncommon for our initial estimates to be subsequently revised.

On January 30, 2015, we acquired Milestone Aviation Group (Milestone Aviation), a helicopter leasing business, for approximately $1,750million, which is included in our GECAS segment. The preliminary purchase price allocation resulted in goodwill of approximately $730million and amortizable intangible assets of approximately $345million. The allocation of the purchase price will be finalized upon completion of post-closing procedures.

Goodwill

CHANGES IN GOODWILL BALANCES
					Dispositions,
					currency
	Balance at				exchange		Balance at
(In millions)	January 1, 2015		Acquisitions		and other		September 30, 2015
CLL	$	25	$	-	$	86	$	111
Consumer		9,777		-		(689)		9,088
Energy Financial Services		1,507		-		(121)		1,386
GECAS		147		729		-		876
Total	$	11,456	$	729	$	(724)	$	11,460

Goodwill balances increased $4 million in the nine months endedSeptember 30, 2015, primarily as a result of the acquisition of Milestone Aviation, partially offset by the reclassification of goodwill associated withANZ Consumer Lending to assets of businesses held for sale and currency exchange effects of a stronger U.S. dollar.

We test goodwill for impairment annually in the third quarter of each year using data as of July 1 of that year. The impairment test consists of two steps: in step one, the carrying value of the reporting unit is compared with its fair value; in step two, which is applied when the carrying value is more than its fair value, the amount of goodwill impairment, if any, is derived by deducting the fair value of the reporting unit’s assets and liabilities from the fair value of its equity, and comparing that amount with the carrying amount of goodwill. We determined fair values for each of the reporting units using the market approach, when available and appropriate, or the income approach, or a combination of both. We assess the valuation methodology based upon the relevance and availability of the data at the time we perform the valuation. If multiple valuation methodologies are used, the results are weighted appropriately.

Valuations using the market approach are derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses is based on the markets in which the reporting units operate giving consideration to risk profiles, size, geography, and diversity of products and services. A market approach is limited to reporting units for which there are publicly traded companies that have the characteristics similar to our businesses.

Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. We use our internal forecasts to estimate future cash flows and include an estimate of long-term future growth rates based on our most recent views of the long-term outlook for each business. Actual results may differ from those assumed in our forecasts. We derive our discount rates using a capital asset pricing model and analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. We use discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in our internally developed forecasts. Discount rates used in our reporting unit valuations ranged from 10.4% to 11.0%.

During the third quarter of 2015, we performed our annual impairment test of goodwill for all of our reporting units (i.e., CLL, Consumer, Energy Financial Services and GECAS). Based on the results of our step one testing, the fair values of each of the reporting units exceeded their carrying values; therefore, the second step of the impairment test was not required to be performed for any of our reporting units and no goodwill impairment was recognized.

While all of our reporting units passed step one of our annual impairment testing, we identified one reporting unit for which the fair value was not substantially in excess of its carrying value. Due to the sharp decline experienced in oil prices and the prospect of a continuation of prevailing oil prices, the fair value of our Energy Financial Services reporting unit has been impacted and is in excess of its carrying value by approximately [13]%. The goodwill associated with our Energy Financial Services reporting unit was $1.4 billion at September 30, 2015, representing approximately 12% of our total goodwill. While the goodwill of this reporting unit is not currently impaired, we will continue to monitor the oil & gas industry and the impact it may have on this reporting unit. As of September 30, 2015, we believe that the goodwill is recoverable for all of the reporting units; however, there can be no assurances that the goodwill will not be impaired in future periods.

Estimating the fair value of reporting units requires the use of estimates and significant judgments that are based on a number of factors including actual operating results. It is reasonably possible that the judgments and estimates described above could change in future periods.

OTHER INTANGIBLE ASSETS

INTANGIBLE ASSETS SUBJECT TO AMORTIZATION
	September 30, 2015						December 31, 2014
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
(In millions)	amount		amortization		Net		amount		amortization		Net
Customer-related	$	1,139	$	(501)	$	638	$	926	$	(489)	$	437
Capitalized software		947		(675)		272		1,228		(843)		385
Lease valuations		107		(16)		92		-		-		-
Trademarks		38		(7)		32		22		(12)		10
Patents and technology		9		(7)		3		9		(6)		3
Present value of future profits(a)		643		(643)		-		614		(614)		-
All other		263		(122)		141		134		(94)		40
Total	$	3,146	$	(1,971)	$	1,177	$	2,933	$	(2,058)	$	875

(a) Balances at September 30, 2015 and December 31, 2014 reflect adjustments of $272 million and $293 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized.

Intangible assets subject to amortization increased by $302 million in the nine months endedSeptember 30, 2015, primarily as a result of the acquisition of Milestone Aviation, partially offset by amortization, currency exchange effects of a stronger U.S. dollar and the reclassification of intangible assets associated with ANZ Consumer Lending to assets of businesses held for sale.

Amortization expense related to intangible assets subject to amortization was $74 million and $69 million in the three months endedSeptember 30, 2015 and 2014, respectively, and $239 million and $198 million in the nine months endedSeptember 30, 2015 and 2014, respectively, and is recorded in operating and administrative expense on the financial statements.

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Financing Receivables and Allowance for Losses on Financing Receivables

9 Months Ended

Sep. 30, 2015

Financing Receivables And Allowance For Losses On Financing Receivables [Abstract]

Financing Receivables And Allowance For Losses On Financing Receivables

NOTE 4. FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES

The implementation of the GE Capital Exit Plan has caused significant reductions in our Consumer portfolio, as all of our non-U.S. consumer financing receivables have been reclassified to either financing receivables held for sale or assets of businesses held for sale. The transfer of financing receivables to financing receivables held for sale and assets of businesses held for sale totaled $29,016 million and $5,508 million in the nine months ended September 30, 2015, respectively. In addition, our Real Estate business and most of our CLL business have been classified as discontinued operations.

FINANCING RECEIVABLES, NET
(In millions)	September 30, 2015		December 31, 2014
Loans, net of deferred income	$	82,196	$	120,007
Investment in financing leases, net of deferred income		5,008		6,554
		87,204		126,561
Allowance for losses		(3,457)		(4,104)
Financing receivables – net	$	83,748	$	122,457

Financing Receivables by Portfolio and Allowance for Losses

FINANCING RECEIVABLES
(In millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	13,341	(a)	$	14,418
Energy Financial Services		2,443			2,580
GE Capital Aviation Services (GECAS)		7,394			8,263
Other		506			480
Total Commercial		23,684			25,741
Consumer		63,520	(b)		100,820
Total financing receivables		87,204			126,561
Allowance for losses		(3,457)	(b)		(4,104)
Total financing receivables – net	$	83,748		$	122,457

• Includes Healthcare Equipment Finance and Working Capital Solutions, which purchases GE customer receivables.
• Includes Synchrony Financial, our U.S. consumer business.

ALLOWANCE FOR LOSSES
			Provision
	Balance at		charged to					Gross						Balance at
(In millions)	January 1		operations(a)		Other		(b)	write-offs		(a)(c)	Recoveries		(c)	September 30
2015
Commercial
CLL	$	21	$	20	$	-		$	(15)		$	6		$	32
Energy Financial Services		26		16		-			(29)			1			14
GECAS		46		(11)		-			(1)			3			37
Other		-		15		-			(13)			-			2
Total Commercial		93		40		-			(58)			10			85
Consumer		4,011		4,596		(252)			(5,622)			639			3,372
Total	$	4,104	$	4,636	$	(252)		$	(5,680)		$	649		$	3,457

2014
Commercial
CLL	$	17	$	8	$	(1)	$	(11)	$	7	$	20
Energy Financial Services		8		13		-		(17)		2		6
GECAS		17		9		-		(11)		-		15
Other		2		-		(2)		-		-		-
Total Commercial		44		30		(3)		(39)		9		41
Consumer		3,981		2,663		(120)		(3,203)		869		4,190
Total	$	4,025	$	2,693	$	(123)	$	(3,242)	$	878	$	4,231

• Provision charged to operations included $2,405 million and gross write-offs included $2,859 million related to the effects of the 2015 reclassification of non-U.S. consumer financing receivables to financing receivables held for sale recorded at the lower of cost or fair value, less cost to sell.
• Other primarily includes the reclassification of financing receivables to assets of businesses held for sale and the effects of currency exchange.
• Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as a result of losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current year, which may identify further deterioration on existing financing receivables.

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Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2015

Businesses Held For Sale, Financing Receivables Held for Sale and Discontinued Operations [Abstract]

Businesses held for sale

FINANCIAL INFORMATION FOR ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE
(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	299	$	676
Investment securities		-		448
Financing receivables – net		4,141		2,144
Property, plant and equipment – net		15		37
Goodwill		366		106
Other intangible assets – net		73		13
Other		23		50
Assets of businesses held for sale	$	4,917	$	3,474
Liabilities
Short-term borrowings	$	27	$	435
Bank deposits		-		1,931
Deferred income taxes		(123)		(31)
Other		356		99
Liabilities of businesses held for sale	$	260	$	2,434

FINANCING RECEIVABLES HELD FOR SALE
(in millions)	September 30, 2015			December 31, 2014
Commercial
CLL	$	833		$	357
Energy Financial Services		-			35
GE Capital Aviation Services (GECAS)		14			27
Other		105			-
Total Commercial		952			419
Consumer		22,713	(a)		359
Total financing receivables held for sale	$	23,665		$	778

(a) Over 30 days past due and nonaccrual financing receivables related to consumer financing receivables held for sale were $1,060 million and $634 million, respectively.

Financial Information for Discontinued Operations [Line Items]

Financial Information

FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,756	$	4,033	$	9,536	$	11,946
Earnings (loss) from discontinued operations before income taxes	$	1,060	$	666	$	203	$	2,062
Benefit (provision) for income taxes		(420)		40		33		(7)
Earnings (loss) from discontinued operations, net of taxes	$	640	$	706	$	236	$	2,055
Disposal
Gain (loss) on disposal before income taxes	$	(2,616)	$	-	$	(9,652)	$	14
Benefit (provision) for income taxes		1,629		-		(916)		1
Gain (loss) on disposal, net of taxes	$	(987)	$	-	$	(10,568)	$	15
Earnings (loss) from discontinued operations, net of taxes	$	(347)	$	706	$	(10,332)	$	2,070

(In millions)	September 30, 2015		December 31, 2014
Assets
Cash and equivalents	$	11,226	$	5,414
Investment securities		8,179		10,006
Financing receivables – net		11,622		114,561
Other receivables		1,470		2,183
Property, plant and equipment – net		12,084		18,051
Goodwill		9,867		13,569
Other intangible assets - net		44		301
Deferred income taxes		2,389		2,920
Financing receivables held for sale		65,390		3,116
Valuation allowance on disposal group classified as held for sale		(7,650)		-
Other		7,320		16,803
Assets of discontinued operations	$	121,940	$	186,924
Liabilities
Short-term borrowings	$	820	$	1,125
Accounts payable		3,884		3,770
Non-recourse borrowings		8,072		10,569
Bank deposits		18,348		18,998
Long-term borrowings		316		1,182
All other liabilities		9,595		7,610
Deferred income taxes		2,608		5,403
Liabilities of discontinued operations	$	43,642	$	48,657

CLL [Member]

Financial Information for Discontinued Operations [Line Items]

Financial Information

FINANCIAL INFORMATION FOR COMMERCIAL LENDING AND LEASING
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	2,691	$	3,370	$	8,664	$	9,998
Interest	$	(576)	$	(762)	$	(1,919)	$	(2,324)
Operating and administrative		(900)		(942)		(2,905)		(2,732)
Depreciation and amortization		-		(988)		(1,768)		(2,923)
Provision for losses on financing receivables		13		(87)		(1,744)		(294)
Earnings (loss) from discontinued operations, before income taxes		1,228		591		328		1,725
Benefit (provision) for income taxes		(484)		(108)		(169)		(326)
Earnings (loss) from discontinued operations, net of taxes	$	744	$	483	$	159	$	1,399
Disposal
Gain (loss) on disposal before income taxes	$	(2,834)	$	-	$	(8,059)	$	-
Benefit (provision) for income taxes		1,629		-		(298)		-
Gain (loss) on disposal, net of taxes	$	(1,205)	$	-	$	(8,357)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	(461)	$	483	$	(8,198)	$	1,399

(a)Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $(1,608)million and $589million for the three months endedSeptember 30, 2015 and 2014, respectively, and $(7,736)million and $1,710million for the nine months endedSeptember 30, 2015 and 2014, respectively.

Real Estate [Member]

Financial Information for Discontinued Operations [Line Items]

Financial Information

FINANCIAL INFORMATION FOR REAL ESTATE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Operations
Total revenues (loss)	$	81	$	698	$	893	$	1,992
Interest	$	(64)	$	(270)	$	(437)	$	(817)
Operating and administrative		(156)		(213)		(464)		(563)
Depreciation and amortization		-		(82)		(62)		(252)
Provision for losses on financing receivables		-		(12)		4		92
Earnings (loss) from discontinued operations,
before income taxes		(139)		121		(65)		452
Benefit (provision) for income taxes		53		55		95		251
Earnings (loss) from discontinued operations, net of taxes	$	(86)	$	176	$	30	$	703
Disposal
Gain (loss) on disposal before income taxes	$	218	$	-	$	(1,593)	$	-
Benefit (provision) for income taxes		-		-		(618)		-
Gain (loss) on disposal, net of taxes	$	218	$	-	$	(2,211)	$	-
Earnings (loss) from discontinued operations, net of taxes(a)	$	132	$	176	$	(2,181)	$	703

(a) Earnings (loss) from discontinued operations attributable to GECC, before income taxes, was $81million and $120million for the three months endedSeptember 30, 2015 and 2014, respectively, and $(1,658)million and $452million for the nine months endedSeptember 30, 2015 and 2014, respectively.

WMC Discontinued Operations [Member]

Financial Information for Discontinued Operations [Line Items]

Rollfoward of WMC's reserve and pending claims for WMC representation and warranty obligations

ROLLFORWARD OF THE RESERVE
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Balance, beginning of period	$	825	$	549	$	809	$	800
Provision		28		40		46		142
Claim resolutions / rescissions		(21)		(1)		(23)		(354)
Balance, end of period	$	832	$	588	$	832	$	588

Financial Information

FINANCIAL INFORMATION FOR WMC
	Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Total revenues (loss)	$	(22)	$	(34)	$	(26)	$	(70)
Earnings (loss) from discontinued operations, net of taxes	$	(21)	$	(25)	$	(37)	$	(57)

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Variable Interest Entities

9 Months Ended

Sep. 30, 2015

Variable Interest Entities [Abstract]

Variable Interest Entities

NOTE 12. VARIABLE INTEREST ENTITIES

We use variable interest entities primarily to securitize financial assets and arrange other forms of asset-backed financing in the ordinary course of business. Investors in these entities only have recourse to the assets owned by the entity and not to our general credit. We do not have implicit support arrangements with any VIE. We did not provide non-contractual support for previously transferred financing receivables to any VIE in 2015 or 2014.

Consolidated Variable Interest Entities

We consolidate VIEs because we have the power to direct the activities that significantly affect the VIE’s economic performance, typically because of our role as either servicer or manager for the VIE. Our consolidated VIEs fall intotwo main groups, which are further described below:

• Consolidated Securitization Entities (CSEs) were created to facilitate securitization of financial assets and other forms of asset-backed financing that serve as an alternative funding source by providing access to variable funding notes and term markets. The securitization transactions executed with these entities are similar to those used by many financial institutions and all are non-recourse. We provide servicing for substantially all of the assets in these entities.

The financing receivables in these entities have similar risks and characteristics to our other financing receivables and were underwritten to the same standard. Accordingly, the performance of these assets has been similar to our other financing receivables; however, the blended performance of the pools of receivables in these entities reflects the eligibility criteria that we apply to determine which receivables are selected for transfer. Contractually the cash flows from these financing receivables must first be used to pay third-party debt holders as well as other expenses of the entity. Excess cash flows are available to GECC. The creditors of these entities have no claim on other assets of GECC.

• Other remaining assets and liabilities of consolidated VIEs relate primarily to three categories of entities: (1) joint ventures that lease equipment with $466 million of assets and $466million of liabilities; (2) other entities that are involved in power generating and leasing activities with $331 million of assets and $187million of liabilities; and (3) insurance entities that, among other lines of business, provide property and casualty and workers’ compensation coverage for GE with $1,126 million of assets and $564million of liabilities.

ASSETS AND LIABILITIES OF CONSOLIDATED VIEs
				Consolidated Securitization Entities(b)
				Credit		Trade
(In millions)	Trinity		(a)	cards		receivables			Other		Total
September 30, 2015
Assets(c)
Financing receivables, net	$	-		$	24,036	$	3,134	(d)	$	531	$	27,701
Investment securities		401			-		-			1,011		1,412
Other assets		45			144		2			1,084		1,275
Total	$	446		$	24,180	$	3,136		$	2,626	$	30,388
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	986	$	986
Non-recourse borrowings		-			13,640		2,516			69		16,225
Other liabilities		193			20		28			1,126		1,367
Total	$	193		$	13,660	$	2,544		$	2,181	$	18,578
December 31, 2014
Assets(c)
Financing receivables, net	$	-		$	25,645	$	3,028	(d)	$	1,030	$	29,703
Investment securities		2,369			-		-			1,005		3,374
Other assets		17			1,059		2			1,397		2,475
Total	$	2,386		$	26,704	$	3,030		$	3,432	$	35,552
Liabilities(c)
Borrowings	$	-		$	-	$	-		$	513	$	513
Non-recourse borrowings		-			14,967		2,692			436		18,095
Other liabilities		1,022			332		26			1,129		2,509
Total	$	1,022		$	15,299	$	2,718		$	2,078	$	21,117

(a) Excluded intercompany advances from GECC to Trinity, which were eliminated in consolidation of $15 million and $1,565 million at September 30, 2015and December 31, 2014, respectively.

(b)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 September 30, 2015and December 31, 2014, the amounts of commingled cash owed to the CSEs were $939 million and $1,091million, respectively, and the amounts owed to us by CSEs were $170 million and $391 million, respectively.

(c)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.

(d)Included $724 million and $686 million of receivablesat September 30, 2015and December 31, 2014, respectively, originated by GE Appliances. We require third party debt holder consent to sell these assets. The receivables will be included in assets of businesses held for sale when the consent is received.

Revenues from services from our consolidated VIEs were $1,410 million and $1,593 million in the three months endedSeptember 30, 2015 and 2014, respectively, and $4,313 million and $4,350 million in the nine months endedSeptember 30, 2015 and 2014, respectively. Related expenses consisted primarily of provisions for losses of $189 million and $244 million in the three months endedSeptember 30, 2015 and 2014, respectively, and $714 million and $791 million in the nine months endedSeptember 30, 2015 and 2014, respectively, and interest of $75 million and $69million in the three months endedSeptember 30, 2015 and 2014, respectively, and $208 million and $195 million in the nine months endedSeptember 30, 2015 and 2014, respectively. These amounts do not include intercompany revenues and costs, principally fees and interest between GECC and the VIEs, which are eliminated in consolidation.

Investments in Unconsolidated Variable Interest Entities

Our involvement with unconsolidated VIEs consists of the following activities: assisting in the formation and financing of the entity; providing recourse and/or liquidity support; servicing the assets; and receiving variable fees for services provided. We are not required to consolidate these entities because the nature of our involvement with the activities of the VIEs does not give us power over decisions that significantly affect their economic performance.

The classification of our variable interests in these entities in our financial statements is based on the nature of the entity and the characteristics of the investment we hold.

INVESTMENTS IN UNCONSOLIDATED VIEs
(In millions)	September 30, 2015		December 31, 2014
Other assets and investment securities	$	601	$	632
Financing receivables – net		10		120
Total investments		611		752
Contractual obligations to fund investments, guarantees or revolving lines of credit		85		27
Total	$	696	$	779

In addition to the entities included in the table above, we also hold passive investments in RMBS, CMBS and asset-backed securities issued by VIEs. Such investments were, by design, investment-grade at issuance and held by a diverse group of investors. Further information about such investments is provided in Note 3.

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Shareowners' Equity

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Shareowners' Equity

NOTE 8. SHAREOWNERS’ EQUITY

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
		Three months ended September 30			Nine months ended September 30
(In millions)		2015		2014		2015		2014
Investment securities
Beginning balance	$	558	$	1,092	$	1,010	$	309
Other comprehensive income (loss) (OCI) before reclassifications –
net of deferred taxes of $27, $(131), $(179) and $341		45		(241)		(355)		555
Reclassifications from OCI – net of deferred taxes
of $(20), $(15), $(50) and $(19)		(23)		(19)		(76)		(32)
Other comprehensive income (loss)(a)		22		(260)		(431)		523
Less OCI attributable to noncontrolling interests		-		2		-		2
Ending balance	$	580	$	830	$	580	$	830
Currency translation adjustments (CTA)
Beginning balance	$	(2,146)	$	(656)	$	(838)	$	(687)
OCI before reclassifications – net of deferred taxes
of $16, $201, $1,355 and $306		1		(532)		(1,635)		(502)
Reclassifications from OCI – net of deferred taxes
of $(628), $1, $(779) and $124		732		(14)		1,039		(8)
Other comprehensive income (loss)(a)		734		(546)		(596)		(510)
Less OCI attributable to noncontrolling interests		(1)		(6)		(23)		(1)
Ending balance	$	(1,412)	$	(1,196)	$	(1,412)	$	(1,196)
Cash flow hedges
Beginning balance	$	(156)	$	(195)	$	(172)	$	(293)
OCI before reclassifications –
net of deferred taxes of $(27), $(44), $(32) and $(6)		(135)		(314)		(651)		(341)
Reclassifications from OCI – net of deferred taxes
of $14, $27, $69 and $40		99		404		631		529
Other comprehensive income (loss)(a)		(36)		90		(20)		188
Less OCI attributable to noncontrolling interests		-		-		-		-
Ending balance	$	(192)	$	(105)	$	(192)	$	(105)
Benefit plans
Beginning balance	$	(574)	$	(371)	$	(577)	$	(363)
Net actuarial gain (loss) – net of deferred taxes
of $2, $1, $1 and $(5)		-		7		(4)		(10)
Prior service cost amortization – net of deferred taxes
of $0, $0, $0 and $0		-		-		(1)		1
Net actuarial loss amortization – net of deferred taxes
of $1, $2, $5 and $6		4		4		13		12
Other comprehensive income (loss)(a)		4		11		8		3
Less OCI attributable to noncontrolling interests		-		-		(1)		-
Ending balance	$	(569)	$	(360)	$	(569)	$	(360)
Accumulated other comprehensive income (loss) at September 30	$	(1,593)	$	(831)	$	(1,593)	$	(831)

(a)Total other comprehensive income (loss) was $725 million and $(705) million in the three months endedSeptember 30, 2015 and 2014, respectively, and $(1,039)million and $204million in the nine months endedSeptember 30, 2015 and 2014, respectively.

RECLASSIFICATION OUT OF AOCI
	Three months ended September 30					Nine months ended September 30
(In millions)	2015		2014		2015		2014		Statement of Earnings Caption
Available-for-sale securities
Realized gains (losses) on
sale/impairment of securities	$	42	$	34	$	126	$	51	Revenues from services(a)
		(20)		(15)		(50)		(19)	Benefit (provision) for income taxes(b)
	$	23	$	19	$	76	$	32	Net of tax
Currency translation adjustments
Gains (losses) on dispositions	$	(104)	$	13	$	(260)	$	(116)	Costs and expenses(c)
		(628)		1		(779)		124	Benefit (provision) for income taxes(d)
	$	(732)	$	14	$	(1,039)	$	8	Net of tax
Cash flow hedges
Gains (losses) on interest rate
derivatives	$	(39)	$	(53)	$	(100)	$	(182)	Interest
Foreign exchange contracts		(75)		(377)		(600)		(387)	(e)
		(114)		(430)		(699)		(569)	Total before tax
		14		26		69		40	Benefit (provision) for income taxes
	$	(99)	$	(404)	$	(631)	$	(529)	Net of tax
Benefit plan items
Amortization of prior service costs	$	-	$	-	$	1	$	(1)	(f)
Amortization of actuarial gains (losses)		(5)		(6)		(18)		(18)	(f)
		(5)		(6)		(17)		(19)	Total before tax
		1		2		5		6	Benefit (provision) for income taxes
	$	(4)	$	(4)	$	(12)	$	(13)	Net of tax
Total reclassification adjustments	$	(813)	$	(375)	$	(1,606)	$	(502)	Net of tax

(a)Included $28 million and $40 million for the three months endedSeptember 30, 2015 and 2014, and $45 million and $34 million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(b) Included $(15) million and $(15) million for the three months endedSeptember 30, 2015 and 2014, and $(21) million and $(13) million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(c) Included $(104) million and $1 million for the three months endedSeptember 30, 2015 and 2014, and $(102) million and $(128) million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(d) Included $(628) million and an insignificant amount for the three months endedSeptember 30, 2015 and 2014, and $(764) million and $123million for the nine months endedSeptember 30, 2015 and 2014, respectively in earnings (loss) from discontinued operations, net of taxes.

(e) Included $(47) million and $(357) million in revenues from services and $(28) million and $(20) million in interest in the three months endedSeptember 30, 2015 and 2014, respectively, and $(587) million and $(368) million in revenues from services and $(13) million and $(19) million in interest in the nine months endedSeptember 30, 2015 and 2014, respectively.

(f)Amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs.

Noncontrolling Interests

Noncontrolling interests in equity of consolidated affiliates includes common shares in consolidated affiliates and preferred stock issued by our affiliates. The balance is summarized as follows.

(In millions)		September 30, 2015		December 31, 2014
Synchrony Financial	$	2,790	$	2,531
Other noncontrolling interests in consolidated affiliates(a)		370		368
Total	$	3,160	$	2,899

(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates.

CHANGES TO NONCONTROLLING INTERESTS
		Three months ended September 30				Nine months ended September 30
(In millions)		2015		2014		2015		2014
Beginning balance	$	3,083	$	350	$	2,899	$	432
Net earnings		83		55		267		76
Dividends		-		-		(5)		(1)
Dispositions		(3)		(6)		(9)		(98)
Synchrony Financial IPO		-		2,393		-		2,393
Other (including AOCI)		(2)		12		8		2
Ending balance	$	3,160	$	2,804	$	3,160	$	2,804

Other

We did not pay any quarterly dividends or special dividends to GE in the three months endedSeptember 30, 2015. We paid quarterly dividends of $472 million and special dividends of $333 million to GE in the three months endedSeptember 30, 2014. We paid quarterly dividends of $450 million and did not pay any special dividends to GE in the nine months ended, September 30, 2015. We paid quarterly dividends of $1,555 million and special dividends of $666 million to GE in the nine months endedSeptember 30, 2014.

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Shareowners' Equity (Changes In Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance				$ (577)
Other comprehensive income (OCI) before reclassifications - net of deferred taxes		$ 725
Benefit (provision) for income taxes	[1]	48	$ 15	6,164	$ (109)
Other comprehensive income, net of tax	[1]	725	(705)	(1,039)	204
Less: Other comprehensive income (loss) attributable to noncontrolling interests	[1]	(1)	(4)	(24)	1
Accumulated other comprehensive income (loss) ending balance		(1,593)	(831)	(1,593)	(831)
Investment Securities [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance		558	1,092	1,010	309
Other comprehensive income (OCI) before reclassifications - net of deferred taxes		45	(241)	(355)	555
Other Comprehensive Income Loss Before Reclassification, Tax		27	(131)	(179)	341
Reclassification from OCI net of deferred taxes		(23)	(19)	(76)	(32)
Benefit (provision) for income taxes		(20)	(15)	(50)	(19)
Other comprehensive income, net of tax		22	(260)	(431)	523
Less: Other comprehensive income (loss) attributable to noncontrolling interests		0	2	0	2
Accumulated other comprehensive income (loss) ending balance		580	830	580	830
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance		(2,146)	(656)	(838)	(687)
Other comprehensive income (OCI) before reclassifications - net of deferred taxes		1	(532)	(1,635)	(502)
Other Comprehensive Income Loss Before Reclassification, Tax		16	201	1,355	306
Reclassification from OCI net of deferred taxes		732	(14)	1,039	(8)
Benefit (provision) for income taxes		(628)	1	(779)	124
Other comprehensive income, net of tax		734	(546)	(596)	(510)
Less: Other comprehensive income (loss) attributable to noncontrolling interests		(1)	(6)	(23)	(1)
Accumulated other comprehensive income (loss) ending balance		(1,412)	(1,196)	(1,412)	(1,196)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance		(156)	(195)	(172)	(293)
Other comprehensive income (OCI) before reclassifications - net of deferred taxes		(135)	(314)	(651)	(341)
Other Comprehensive Income Loss Before Reclassification, Tax		(27)	(44)	(32)	(6)
Reclassification from OCI net of deferred taxes		99	404	631	529
Benefit (provision) for income taxes		14	27	69	40
Other comprehensive income, net of tax		(36)	90	(20)	188
Less: Other comprehensive income (loss) attributable to noncontrolling interests		0	0	0	0
Accumulated other comprehensive income (loss) ending balance		(192)	(105)	(192)	(105)
Benefit Plans Adj [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance		(574)	(371)	(577)	(363)
Benefit (provision) for income taxes		(1)	(2)	(5)	(6)
Other comprehensive income, net of tax		4	11	8	3
Less: Other comprehensive income (loss) attributable to noncontrolling interests		0	0	(1)	0
Net acturial gain (loss) net of deferred taxes		0	7	(4)	(10)
Net actuarial gain loss - deferred tax		2	1	1	(5)
Prior service cost amortization - net of deferred taxes		0	0	(1)	1
Prior service cost amortization - deferred tax		0	0	0	0
Net actuarial loss amortization net of tax		4	4	13	12
Net actuarial loss amortization - deferred tax		1	2	5	6
Accumulated other comprehensive income (loss) ending balance		$ (569)	$ (360)	$ (569)	$ (360)

[1] Amounts may not add due to rounding.

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Borrowings and Bank Deposits

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Borrowings and Bank Deposits

NOTE6. BORROWINGS AND BANK DEPOSITS

(In millions)	September 30, 2015		December 31, 2014
Short-term borrowings
Commercial paper(a)
U.S.	$	9,811	$	22,019
Non-U.S.		3,103		2,993
Current portion of long-term borrowings(a)(b)(c)		29,679		36,995
GE Interest Plus notes(d)		-		5,467
Other(c)		287		231
Total short-term borrowings	$	42,880	$	67,705
Long-term borrowings
Senior unsecured notes(a)(b)(e)	$	144,935	$	162,194
Subordinated notes(a)		4,715		4,804
Subordinated debentures(a)(f)(g)		6,782		7,085
Other(a)(c)(h)		7,751		12,676
Total long-term borrowings	$	164,183	$	186,759
Non-recourse borrowings of
consolidated securitization entities(i)	$	16,225	$	19,369
Bank deposits(j)	$	48,656	$	43,841
Total borrowings and bank deposits	$	271,944	$	317,674

• On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short term borrowings included $12,914 million of commercial paper and $28,373 million of the current portion of long-term borrowings. Long-term borrowings included $131,230 million of senior unsecured notes, $3,971 million of subordinated notes, $6,782 million of subordinated debentures, and $400million of other.
• Included $431 million and $439million of obligations to holders of GICs at September 30, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things.
• Included $4,969 million and $4,835million of funding secured by real estate, aircraft and other collateral at September 30, 2015 and December 31, 2014, respectively, of which $1,216 million and $1,183 million is non-recourse to GECC at September 30, 2015 and December 31, 2014, respectively.
• Entirely variable denomination floating-rate demand notes. The GE Interest Plus program was closed effective August 31, 2015.
• Included $5,589 million and $3,594 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
• Subordinated debentures receive rating agency equity credit.
• Included $2,636 million of subordinated debentures, which constitute the sole assets of trusts that have issued trust preferred securities and where GECC owns 100% of the common securities of the trusts. Obligations associated with these trusts are unconditionally guaranteed by GECC.
• Included $4,651 million and $8,245 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
• Included $1,934 million and $3,377million of current portion of long-term borrowings at September 30, 2015 and December 31, 2014, respectively. See Note 12.
• Included $8,108 million and $8,905 million of deposits in non-U.S. banks at September 30, 2015 andDecember 31, 2014, respectively, and $15,990 million and $14,500 million of certificates of deposits with maturities greater than one year at September 30, 2015 and December 31, 2014, respectively.

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Income Taxes

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 7. INCOME TAXES

THE GE CAPITAL EXIT PLAN

In conjunction with the GE Capital Exit Plan, we will significantly reduce our non-U.S. assets while continuing to operate appropriately capitalized non-U.S. businesses with substantial assets related to our vertical financing businesses, Energy Financial Services, GECAS and Healthcare Equipment Finance. As a result of the GE Capital Exit Plan, we recognized tax expense of $6,209 million in the nine months ended September 30, 2015. This consisted of tax expense of $3,548 million in the nine months ended September 30, 2015, related to expected repatriation of excess foreign cash in the amount of approximately $36 billion including approximately $10 billion of foreign earnings and the write-off of deferred tax assets of $2,661 million in the nine months ended September 30, 2015, that will no longer be supported under this plan.

The expected repatriation of cash includes approximately $10 billion of foreign earnings that, prior to the approval of the GE Capital Exit Plan, were considered indefinitely reinvested in our international operations. Our indefinitely reinvested earnings will also be reduced by charges recognized in connection with the disposition of international assets.The remainder of the indefinitely reinvested earnings will continue to be reinvested in the significant international base of assets that will remain after theGE Capital Exit Plan is fully executed. The write-off of deferred tax assets largely relate to our Treasury operations in Ireland where the tax benefits will no longer be apparent to be realized upon implementation of the GE Capital Exit Plan.

UNRECOGNIZED TAX BENEFITS

UNRECOGNIZED TAX BENEFITS
(In millions)	September 30, 2015		December 31, 2014
Unrecognized tax benefits	$	2,957	$	3,055
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		2,215		2,259
Accrued interest on unrecognized tax benefits		359		420
Accrued penalties on unrecognized tax benefits		35		34
Reasonably possible reduction to the balance of unrecognized tax benefits
in succeeding 12 months		0-750		0-600
Portion that, if recognized, would reduce tax expense and effective tax rate(a)		0-200		0-50

(a)Some portion of such reduction may be reported as discontinued operations.

The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2010-2011. In addition, certain other U.S. tax deficiency issues and refund claims for previous years are still unresolved. The IRS has disallowed the tax loss on our 2003 disposition of ERC Life Reinsurance Corporation. We have contested the disallowance of this loss. It is reasonably possible that the unresolved items could be resolved during the next 12 months, which could result in a decrease in our balance of unrecognized tax benefits – that is, the aggregate tax effect of differences between tax return positions and the benefits recognized in our financial statements. We believe that there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties.

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Revenues From Services

9 Months Ended

Sep. 30, 2015

Financial Services Revenue [Abstract]

Revenues From Services

NOTE 9. REVENUES FROM SERVICES

	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Interest on loans	$	3,010	$	3,128	$	8,902	$	9,194
Equipment leased to others		1,179		1,111		3,519		3,400
Fees		839		852		2,426		2,466
Investment income		470		495		1,445		1,506
Associated companies(a)		158		189		893		796
Premiums earned by insurance activities		353		397		1,062		1,130
Financing leases		84		100		275		331
Other items(b)		198		84		(1,133)		311
Total	$	6,290	$	6,356	$	17,388	$	19,134

(a)Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest is included total assets at September 30, 2015 and December 31, 2014 of $54,302 million and $78,632 million, respectively. Assets were primarily financing receivables of $25,334 million and $46,481 million at September 30, 2015 and December 31, 2014, respectively. Total liabilities were $37,402 million and $57,273 million, consisted primarily of bank deposits of $17 million and $1,853 million at September 30, 2015 and December 31, 2014, respectively, and debt of $31,793 million and $39,147 million at September 30, 2015 and December 31, 2014, respectively. Revenues for the three months endedSeptember 30, 2015 and2014 totaled $2,990 million and $3,612 million, respectively, and net earnings for the three months endedSeptember 30, 2015 and2014 totaled $328 million and $784million, respectively. Revenues for the nine months endedSeptember 30, 2015 and 2014 totaled $9,469 million and $14,162 million, respectively, and net earnings for the nine months endedSeptember 30, 2015 and 2014 totaled $1,030million and $2,281 million, respectively.

(b)During the nine months ended September 30, 2015, other items primarily included impairments related to equity method investments ($1,392 million) in connection with the GE Capital Exit Plan

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Shareowners' Equity (Changes Noncontrolling Interests) (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014
Stockholders' Equity Note [Abstract]
Beginning balance		$ 3,083		$ 350	$ 2,899	[1],[2]	$ 432	[1]
Net earnings	[2]	83		55	267		76
Dividends		0		0	(5)		(1)
Dispositions		(3)		(6)	(9)		(98)
Synchrony Financial IPO		0		2,393	0		2,393
AOCI and other		(2)		12	8		2
Ending balance		$ 3,160	[1],[2]	$ 2,804	$ 3,160	[1],[2]	$ 2,804

[1] (c) Included AOCI attributable to noncontrolling interests of $ (178) million and $ (154) million at September 30, 2015 and December 31, 2014 , respectively.

[2] Amounts may not add due to rounding.

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Fair Value Measurements - Recurring (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt
US corporate	$ 22,899	$ 23,703
State and municipal	4,340	4,675
Residential mortgage-backed securities	984	1,692
Commercial mortgage-backed securities	2,405	3,063
Asset-backed	97	295
Corporate Non-US	867	1,016
Government Non-US	1,252	1,710
US government and federal agency	3,882	2,013
Equity
Trading	19	21
Available-for-sale	125	132
Derivative Assets	1,207	1,630
Assets Fair Value Disclosure	38,075	39,950
Liabilities
Derivative Liabilities	11	56
Other Liabilities	19	20
Liabilities Fair Value Disclosure	29	76
Cumulative gain (loss) adjustment for non performance risk	2	15
Fair Value, Inputs, Level 1
Debt
US corporate	0	0
State and municipal	0	0
Residential mortgage-backed securities	0	0
Commercial mortgage-backed securities	0	0
Asset-backed	0	0
Corporate Non-US	6	0
Government Non-US	14	0
US government and federal agency	0	0
Equity
Trading	19	21
Available-for-sale	100	108
Derivative Assets	0	0
Assets Fair Value Disclosure	138	129
Liabilities
Derivative Liabilities	0	0
Other Liabilities	0	0
Liabilities Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2
Debt
US corporate	19,853	20,659
State and municipal	4,259	4,560
Residential mortgage-backed securities	981	1,676
Commercial mortgage-backed securities	2,403	3,054
Asset-backed	59	172
Corporate Non-US	579	680
Government Non-US	1,238	1,708
US government and federal agency	3,573	1,747
Equity
Trading	0	0
Available-for-sale	14	15
Derivative Assets	7,465	8,981
Assets Fair Value Disclosure	40,425	43,252
Liabilities
Derivative Liabilities	4,382	4,218
Other Liabilities	19	20
Liabilities Fair Value Disclosure	4,401	4,238
Fair Value, Inputs, Level 3
Debt
US corporate	3,046	3,044
State and municipal	81	115
Residential mortgage-backed securities	2	16
Commercial mortgage-backed securities	1	9
Asset-backed	38	123
Corporate Non-US	282	336
Government Non-US	0	2
US government and federal agency	309	266
Equity
Trading	0	0
Available-for-sale	10	9
Derivative Assets	67	27
Assets Fair Value Disclosure	3,837	3,947
Liabilities
Derivative Liabilities	7	9
Other Liabilities	0	0
Liabilities Fair Value Disclosure	7	9
Netting Adjustment Including Collateral
Debt
US corporate	0	0
State and municipal	0	0
Residential mortgage-backed securities	0	0
Commercial mortgage-backed securities	0	0
Asset-backed	0	0
Corporate Non-US	0	0
Government Non-US	0	0
US government and federal agency	0	0
Equity
Trading	0	0
Available-for-sale	0	0
Derivative Assets	(6,325)	(7,378)
Assets Fair Value Disclosure	(6,325)	(7,378)
Liabilities
Derivative Liabilities	(4,378)	(4,171)
Other Liabilities	0	0
Liabilities Fair Value Disclosure	(4,378)	(4,171)
Fair Value Level 1 Transfer Level 2 [Member]
Debt
US corporate	$ 0	13
Government Non-US		$ 487

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Shareowners' Equity (Other - Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Preferred Stock, Shares Issued	50,000		50,000		50,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01		$ 0.01
Quarterly dividend paid	$ 0	$ 472	$ 450	$ 1,555
Special Dividend Paid By Finance Subsidiary To Parent	$ 0	$ 333	$ 0	$ 666

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Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables (Tables)

9 Months Ended

Sep. 30, 2015

Credit Quality Financing Receivables [Abstract]

Nonaccrual Financing Receivables

PAST DUE AND NONACCRUAL FINANCING RECEIVABLES
		September 30, 2015								December 31, 2014
		Over 30 days		Over 90 days						Over 30 days		Over 90 days
(In millions)		past due		past due			Nonaccrual			past due		past due			Nonaccrual
Commercial
CLL	$	655	$	174		$	27		$	610	$	131		$	25
Energy Financial Services		63		63			82			-		-			68
GECAS		2		-			195			-		-			419
Total Commercial		720		237			304	(a)		610		131			512	(a)
Consumer		2,553		1,102	(b)		2	(c)		5,137		2,495	(b)		1,484	(c)
Total	$	3,273	$	1,339		$	306		$	5,747	$	2,626		$	1,996
Total as a percent of financing receivables		3.8 %		1.5 %			0.4 %			4.5 %		2.1 %			1.6 %

(a) Included $228 million and $484 million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

• Included $1,100million and $1,231million of Consumer loans at September 30, 2015 and December 31, 2014, respectively, which are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due.
• Included noneand $179million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

Impaired Loans

IMPAIRED LOANS AND RELATED RESERVES
	With no specific allowance						With a specific allowance
	Recorded		Unpaid		Average		Recorded		Unpaid					Average
	investment		principal		investment		investment		principal			Associated		investment
(In millions)	in loans		balance		in loans		in loans		balance			allowance(a)		in loans
September 30, 2015
Commercial
CLL	$	11	$	11	$	11	$	5	$	5		$	3	$	5
Energy Financial Services		82		100		54		-		-			-		6
GECAS		116		122		213		-		-			-		-
Other		-		-		-		-		-			-		-
Total Commercial(b)		209		233		278		5		5			3		11
Consumer(c)		-		-		35		736		640	(d)		242		1,055
Total	$	209	$	233	$	313	$	741	$	645		$	245	$	1,066
December 31, 2014
Commercial
CLL	$	10	$	10	$	7	$	5	$	5		$	4	$	4
Energy Financial Services		53		54		26		15		15			12		24
GECAS		329		337		88		-		-			-		15
Other		-		-		-		-		-			-		1
Total Commercial(b)		392		401		121		20		20			16		44
Consumer(c)		138		179		120		2,042		2,092			408		2,547
Total	$	530	$	580	$	241	$	2,062	$	2,112		$	424	$	2,591

• Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible.
• We recognized insignificant amounts of interest income, including none on a cash basis, in the nine months endedSeptember 30, 2015, the year ended December 31, 2014 and the nine months endedSeptember 30, 2014, respectively, in CLL. The total average investment in impaired loans for the nine months endedSeptember 30, 2015 and the year ended December 31, 2014 was $289 million and $165 million, respectively.
• We recognized $48 million, $126 million and $135millionof interest income, including $1 million, $5 million and $3 million on a cash basis, in the nine months endedSeptember 30, 2015, the year ended December 31, 2014 and the nine months endedSeptember 30, 2014, respectively. The total average investment in impaired loans for the nine months endedSeptember 30, 2015 and the year ended December 31, 2014 was $1,090 million and $2,667 million, respectively.
• Unpaid principal balance excludes accrued interest and fees.

Financing Receivables And Allowance For Losses

(In millions)	Non-impaired financing receivables		General reserves		Impaired loans		Specific reserves
September 30, 2015
Commercial	$	23,470	$	82	$	214	$	3
Consumer		62,784		3,130		736		242
Total	$	86,254	$	3,212	$	950	$	245
December 31, 2014
Commercial	$	25,329	$	77	$	412	$	16
Consumer		98,640		3,603		2,180		408
Total	$	123,969	$	3,680	$	2,592	$	424

Schedule Of Impaired Loan Balance Classified To Measure Impairment [Table Text Block]

IMPAIRED LOAN BALANCE CLASSIFIED BY THE METHOD USED TO MEASURE IMPAIRMENT
(In millions)	September 30, 2015		December 31, 2014
Discounted cash flow	$	819	$	2,149
Collateral value		131		443
Total	$	950	$	2,592

Commercial [Member]

Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables [Line Items]

Credit Quality Indicators

COMMERCIAL FINANCING RECEIVABLES BY RISK CATEGORY
	Secured
(In millions)	A		B		C		Total
September 30, 2015
CLL	$	13,260	$	44	$	37	$	13,341
Energy Financial Services		2,301		41		-		2,342
GECAS		7,076		225		93		7,394
Other		153		-		-		153
Total	$	22,790	$	310	$	130	$	23,230
December 31, 2014
CLL	$	14,271	$	49	$	98	$	14,418
Energy Financial Services		2,479		60		16		2,555
GECAS		7,908		237		118		8,263
Other		130		-		-		130
Total	$	24,788	$	346	$	232	$	25,366

Consumer [Member]

Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables [Line Items]

Credit Quality Indicators

	Refreshed FICO score
	September 30, 2015						December 31, 2014
	661 or		601 to		600 or		661 or		601 to		600 or
(in millions)	higher		660		less		higher		660		less
U.S. installment and
revolving credit	$	45,383	$	12,304	$	4,403	$	43,466	$	11,865	$	4,532

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Financing Receivables and Allowance for Losses (Allowance for Losses on Financing Receivables) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable [Line Items]
Balance at January 1	$ 4,104	$ 4,025
Provision charged	4,636	2,693
Other	(252)	(123)
Gross write-offs	(5,680)	(3,242)
Recoveries	649	878
Balance at September 30	3,457	4,231
GE Capital Exit Plan [Member]
Financing Receivable [Line Items]
Provision charged	2,405
Gross write-offs	2,859
CLL [Member]
Financing Receivable [Line Items]
Balance at January 1	21	17
Provision charged	20	8
Other	0	(1)
Gross write-offs	(15)	(11)
Recoveries	6	7
Balance at September 30	32	20
Energy Financial Services [Member]
Financing Receivable [Line Items]
Balance at January 1	26	8
Provision charged	16	13
Other	0	0
Gross write-offs	(29)	(17)
Recoveries	1	2
Balance at September 30	14	6
GECAS [Member]
Financing Receivable [Line Items]
Balance at January 1	46	17
Provision charged	(11)	9
Other	0	0
Gross write-offs	(1)	(11)
Recoveries	3	0
Balance at September 30	37	15
Other Commercial [Member]
Financing Receivable [Line Items]
Balance at January 1	0	2
Provision charged	15	0
Other	0	(2)
Gross write-offs	(13)	0
Recoveries	0	0
Balance at September 30	2	0
Commercial [Member]
Financing Receivable [Line Items]
Balance at January 1	93	44
Provision charged	40	30
Other	0	(3)
Gross write-offs	(58)	(39)
Recoveries	10	9
Balance at September 30	85	41
Consumer [Member]
Financing Receivable [Line Items]
Balance at January 1	4,011	3,981
Provision charged	4,596	2,663
Other	(252)	(120)
Gross write-offs	(5,622)	(3,203)
Recoveries	639	869
Balance at September 30	$ 3,372	$ 4,190

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Operating Segments MD&A

9 Months Ended

Sep. 30, 2015

Operating segments [Abstract]

Operating segment

SUMMARY OF OPERATING SEGMENTS
	Three months ended September 30						Nine months ended September 30
(In millions)	2015		2014		V%		2015		2014		V%
Revenues
CLL	$	285	$	251		14 %	$	790	$	743		6 %
Consumer		3,652		3,622		1 %		9,237		10,822		(15)%
Energy Financial Services		225		344		(35)%		906		1,120		(19)%
GECAS		1,307		1,262		4 %		3,935		3,952		- %
Total segment revenues		5,468		5,479		- %		14,867		16,637		(11)%
GECC corporate items and eliminations		843		905		(7)%		2,585		2,586		- %
Total revenues	$	6,312	$	6,384		(1)%	$	17,452	$	19,223		(9)%
Segment profit (loss)
CLL	$	111	$	90		23 %	$	286	$	252		13 %
Consumer		795		621		28 %		(1,521)		1,879		U
Energy Financial Services		(38)		61		U		106		290		(63)%
GECAS		313		133		F		981		828		18 %
Total segment profit (loss)		1,180		905		30 %		(149)		3,249		U
GECC corporate items and eliminations		(445)		(62)		U		(7,245)		3		U
Earnings (loss) from continuing operations attributable to GECC		734		843		(13)%		(7,394)		3,252		U
Preferred stock dividends declared		-		-		- %		(161)		(161)		- %
Earnings (loss) from continuing operations attributable to
GECC common shareowner		734		843		(13)%		(7,555)		3,091		U
Earnings (loss) from discontinued operations, net of taxes		(347)		706		U		(10,332)		2,070		U
Net earnings (loss) attributable to GECC common shareowner	$	387	$	1,549		(75)%	$	(17,887)	$	5,161		U

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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill balance

CHANGES IN GOODWILL BALANCES
					Dispositions,
					currency
	Balance at				exchange		Balance at
(In millions)	January 1, 2015		Acquisitions		and other		September 30, 2015
CLL	$	25	$	-	$	86	$	111
Consumer		9,777		-		(689)		9,088
Energy Financial Services		1,507		-		(121)		1,386
GECAS		147		729		-		876
Total	$	11,456	$	729	$	(724)	$	11,460

Intangible assets subject to amortization

INTANGIBLE ASSETS SUBJECT TO AMORTIZATION
	September 30, 2015						December 31, 2014
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
(In millions)	amount		amortization		Net		amount		amortization		Net
Customer-related	$	1,139	$	(501)	$	638	$	926	$	(489)	$	437
Capitalized software		947		(675)		272		1,228		(843)		385
Lease valuations		107		(16)		92		-		-		-
Trademarks		38		(7)		32		22		(12)		10
Patents and technology		9		(7)		3		9		(6)		3
Present value of future profits(a)		643		(643)		-		614		(614)		-
All other		263		(122)		141		134		(94)		40
Total	$	3,146	$	(1,971)	$	1,177	$	2,933	$	(2,058)	$	875

(a) Balances at September 30, 2015 and December 31, 2014 reflect adjustments of $272 million and $293 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized.

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Financing Receivables and Allowance for Losses (Net Investment in Financing Leases) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financing Leases [Abstract]
Loans and leases receivable, Gross	$ 87,204	$ 126,561

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Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations (WMC) (Details) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) Lawsuits	Sep. 30, 2014 USD ($)
Financial Information For Businesses Held For Sale [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	[1]	$ (347)	$ 706	$ (10,332)	$ 2,070
WMC
Financial Information For Businesses Held For Sale [Line Items]
Adjustment For Pending Claims For Unmet Representations And Warranties				$ 7
Number Of Securitizations Related To Lawsuits Involving repurchase Claims On Loans In Which Adverse Parties Are Securitization Trustees				14
Number Of Lawsuits Involving Repurchase Claims On Loans | Lawsuits				15
WMC | Lower Limit
Financial Information For Businesses Held For Sale [Line Items]
Increase To Reserve For Claims For Unmet Representations And Warranties For Ten Percent Adverse Effect In Assumptions				$ 0
WMC | Upper Limit
Financial Information For Businesses Held For Sale [Line Items]
Increase To Reserve For Claims For Unmet Representations And Warranties For Ten Percent Adverse Effect In Assumptions				$ 500

[1] Amounts may not add due to rounding.

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Consolidated Statement of Financial Position (unaudited) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and equivalents	[1]	$ 82,276	$ 69,011
Investment securities (Note 3)	[1]	36,868	38,320
Inventories	[1]	59	50
Financing receivables - net (Notes 4 and 13)	[1]	83,748	122,457
Other receivables	[1]	14,039	14,508
Property, plant and equipment, less accumulated amortizations	[1]	34,516	31,519
Goodwill (Note 5)	[1]	11,460	11,456
Other intangible assets - net (Note 5)	[1]	1,177	875
Other Assets	[1]	19,155	23,198
Financing receivables held for sale (Note 2)	[1]	23,665	778
Assets of businesses held for sale (Note 2)	[1]	4,917	3,474
Assets of discontinued operations (Note 2)	[1]	121,940	186,924
Total assets(a)	[1],[2]	433,819	502,570
Liabilities and equity
Short-term borrowings (Note 6)		42,880	67,705
Accounts payable	[1]	2,213	2,411
Non-recourse borrowings of consolidated securitization entities (Note 6)		16,225	19,369
Bank deposits (Note 6)		48,656	43,841
Long-term borrowings (Note 6)		164,183	186,759
Investment contracts, insurance liabilities and insurance annuity benefits	[1]	26,646	28,027
Other liabilities	[1]	11,330	9,549
Deferred Tax Liabilities, Net	[1]	6,458	3,420
Liabilities of businesses held for sale (Note 2)	[1]	260	2,434
Liabilities of discontinued operations (Note 2)	[1]	43,642	48,657
Total liabilities(a)	[1],[2]	362,493	412,172
Preferred stock, $0.01 par value (750,000 shares authorized at both September 30, 2015 and December 31, 2014 and 50,000 shares issued and outstanding at both September 30, 2015 and December 31, 2014)	[1]	0	0
Common stock, $14 par value (4,166,000 shares authorized at September 30, 2015 and December 31, 2014 and 1,000 shares issued and outstanding at September 30, 2015 and December 31, 2014)	[1]	0	0
Accumulated other comprehensive income (loss) - net(b)
Investment securities	[1],[3]	580	1,010
Currency translation adjustments	[1],[3]	(1,412)	(838)
Cash flow hedges	[1],[3]	(192)	(172)
Benefit plans	[1],[3]	(569)	(577)
Additional paid-in capital	[1]	33,019	32,999
Retained earnings	[1]	36,740	55,077
Total GECC shareowners' equity	[1]	68,166	87,499
Noncontrolling interests(c) (Note 8)	[1],[4]	3,160	2,899
Total equity	[1]	71,326	90,398
Total liabilities and equity	[1]	$ 433,819	$ 502,570

[1] Amounts may not add due to rounding.

[2] (a) Our consolidated assets at September 30, 2015 included total assets of $ 41,815 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included net financing receivables of $ 27,701 million and investment securities of $ 1,412 million with in continuing operations and assets of discontinued operations of $ 11,427 million . Our consolidated liabilities at September 30, 2015 included liabilities of certain VIEs for which the VIE creditors do not have recourse to GECC. These liabilities included non-recourse borrowings of consolidated securitization entities (CSEs) of $ 16,225 million within continuing operations and non-recourse borrowings of CSEs within discontinu ed operations of $ 8,072 million . See N ote 12 .

[3] (b) The sum of accumulated other comprehensive income (loss) (AOCI) attributable to GECC was $ (1,593) million and $ (577) million at September 30, 2015 and December 31, 2014 , respectively.

[4] (c) Included AOCI attributable to noncontrolling interests of $ (178) million and $ (154) million at September 30, 2015 and December 31, 2014 , respectively.

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Investment Securities

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Investment Securities

NOTE 3. INVESTMENT SECURITIES

Substantially all of our investment securities are classified as available-for-sale. These comprise mainly investment-grade debt securities supporting obligations to annuitants and policyholders in our run-off insurance operations

	September 30, 2015								December 31, 2014
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
(In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value
Debt
U.S. corporate	$	19,975	$	3,102	$	(178)	$	22,899	$	19,810	$	3,962	$	(69)	$	23,703
State and municipal		3,972		439		(71)		4,340		4,173		555		(53)		4,675
Residential mortgage-backed(a)		905		84		(5)		984		1,544		153		(5)		1,692
Commercial mortgage-backed		2,295		121		(12)		2,405		2,903		170		(10)		3,063
Asset-backed		107		1		(10)		97		304		8		(17)		295
Corporate – non-U.S.		769		101		(3)		867		908		109		(1)		1,016
Government – non-U.S.		1,094		158		(1)		1,252		1,560		152		(2)		1,710
U.S. government and federal agency		3,783		99		-		3,882		1,957		56		-		2,013
Equity
Available-for-sale		113		16		(4)		125		109		24		(1)		132
Trading		19		-		-		19		21		-		-		21
Total	$	33,032	$	4,121	$	(285)	$	36,868	$	33,289	$	5,189	$	(158)	$	38,320

(a)Substantially collateralized by U.S. mortgages. At September 30, 2015, $961million related to securities issued by government-sponsored entities and $23million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

The fair value of investment securities decreased to $36,868 million at September 30, 2015, from $38,320 million at December 31, 2014,

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
(In millions)	fair value		losses		(a)	fair value		losses		(a)
September 30, 2015
Debt
U.S. corporate	$	2,161	$	(130)		$	335	$	(48)
State and municipal		544		(16)			155		(55)
Residential mortgage-backed		175		(2)			77		(3)
Commercial mortgage-backed		351		(8)			26		(4)
Asset-backed		-		-			48		(10)
Corporate – non-U.S.		41		(3)			3		-
Government – non-U.S.		292		(1)			-		-
U.S. government and federal agency		450		-			1		-
Equity		38		(4)			-		-
Total	$	4,052	$	(164)		$	645	$	(121)	(b)
December 31, 2014
Debt
U.S. corporate	$	554	$	(16)		$	836	$	(53)
State and municipal		67		(1)			308		(52)
Residential mortgage-backed		30		-			146		(5)
Commercial mortgage-backed		165		(1)			204		(9)
Asset-backed		9		-			42		(17)
Corporate – non-U.S.		42		(1)			3		-
Government – non-U.S.		677		(2)			14		-
U.S. government and federal agency		705		-			1		-
Equity		6		(1)			-		-
Total	$	2,255	$	(22)		$	1,554	$	(136)

(a) Included gross unrealized losses of $1 million related to securities that had other-than-temporary impairments previously recognized at September 30, 2015.

(b) Includes debt securities held to support obligations to holders of GICs all of which are considered to be investment-grade by the major rating agencies at September 30, 2015.  

We regularly review investment securities for other-than-temporary impairment (OTTI) using both qualitative and quantitative criteria. For debt securities, our qualitative review considers our ability and intent to hold the security and the financial condition of and near-term prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. Our quantitative review considers whether there has been an adverse change in expected future cash flows. Unrealized losses are not indicative of the amount of credit loss that would be recognized and at September 30, 2015 are primarily due to increases in market yields subsequent to our purchase of the securities. We presently do not intend to sell the vast majority of our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell the vast majority of these securities before anticipated recovery of our amortized cost. The methodologies and significant inputs used to measure the amount of credit loss for our investment securities during 2015 have not changed. For equity securities, we consider the duration and the severity of the unrealized loss. We believe that the unrealized loss associated with our equity securities will be recovered within the foreseeable future.

Our corporate debt portfolio comprises securities issued by public and private corporations in various industries, primarily in the U.S. Substantially all of our corporate debt securities are rated investment grade by the major rating agencies.

Our RMBS portfolio is collateralized primarily by pools of individual, direct mortgage loans, of which substantially all are in a senior position in the capital structure of the deals, not other structured products such as collateralized debt obligations. Of the total RMBS held at September 30, 2015, $961 million and $23 million related to agency and non-agency securities, respectively. Additionally, $58 million was related to residential subprime credit securities, primarily supporting obligations to annuitants and policyholders in our run-off insurance operations. Substantially all of the subprime exposure is related to securities backed by mortgage loans originated in 2005 and prior and are investment grade.

Our commercial mortgage-backed securities (CMBS) portfolio is collateralized by both diversified pools of mortgages that were originated for securitization (conduit CMBS) and pools of large loans backed by high-quality properties (large loan CMBS), about half of which were originated in 2008 and prior. The vast majority of the securities in our CMBS portfolio have investment-grade credit ratings.

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Total pre-tax, OTTI recognized	$	2	$	2	$	21	$	18
Pre-tax, OTTI recognized in AOCI		-		-		-		(4)
Pre-tax, OTTI recognized in earnings(a)	$	2	$	2	$	21	$	14

(a)Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million and none inthe three months endedSeptember 30, 2015 and 2014, respectivelyand $1 million and $2million in the nine months endedSeptember 30, 2015 and 2014, respectively.

CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Cumulative credit loss impairments recognized, beginning of period	$	6	$	255	$	8	$	306
Credit loss impairments recognized
on securities not previously impaired		-		-		-		-
Incremental credit loss impairments recognized
on securities previously impaired		-		2		-		4
Less credit loss impairments previously recognized
on securities sold during the period or that we intend to sell		-		-		2		53
Cumulative credit loss impairments recognized, end of period	$	6	$	257	$	6	$	257

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES)
	Amortized		Estimated
(In millions)	cost		fair value
Due
Within one year	$	2,162	$	2,171
After one year through five years		4,656		4,868
After five years through ten years		4,854		5,217
After ten years		17,921		20,983

We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations.

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES
	Three months ended September 30				Nine months ended September 30
(In millions)	2015		2014		2015		2014
Gains	$	21	$	1	$	122	$	37
Losses, including impairments		(6)		(5)		(41)		(18)
Net	$	15	$	(4)	$	81	$	19

Although we generally do not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing our investment securities portfolio, we may sell securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders. In some of our bank subsidiaries, we maintain a certain level of purchases and sales volume principally of non-U.S. government debt securities. In these situations, fair value approximates carrying value for these securities.

Proceeds from investment securities sales and early redemptions by issuers totaled $6,022 million and $623 million in the three months endedSeptember 30, 2015 and 2014, respectively, principally from sales of U.S. government and federal agency securities in Trinity and Synchrony Financial and short-term government securities in our bank subsidiaries.

Proceeds from investment securities sales and early redemptions by issuers totaled $9,322 million and $1,995million in the nine months endedSeptember 30, 2015 and 2014, respectively, principally from sales of short-term government securities in our bank subsidiaries and sales of U.S. corporate and CMBS securities in our run-off insurance operations. In addition, proceeds from investment securities sales in the nine months endedSeptember 30, 2015included $6,486 million principally from sales of U.S. government and federal agency securities, CMBS and RMBS at Trinity and Synchrony Financial.

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Shareowners' Equity - Rollforward Schedule (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014		Jun. 30, 2014	Dec. 31, 2013	[2]
Preferred and Common Stock [Abstract]
Preferred Stock, Value, Issued	[1]	$ 0			$ 0				$ 0
Common Stock, Value, Issued	[1]	0			0				0
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance					(577)
Other comprehensive income (OCI) before reclassifications - net of deferred taxes		725
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	725		$ (701)	(1,015)		$ 203
Accumulated other comprehensive income (loss) ending balance		(1,593)		(831)	(1,593)		(831)
Other capital
Additional Paid in Capital, Beginning Balance	[1]				32,999
Additional Paid in Capital, Ending Balance	[1]	33,019			33,019
Retained earnings
Retained Earnings (Accumulated Deficit), Beginning Balance	[1]				55,077
Net Income (Loss) Attributable to Parent	[1]	387		1,549	(17,726)		5,322
Dividends and other transactions with shareowners	[1]				(611)		(2,382)
Retained Earnings (Accumulated Deficit), Ending Balance	[1]	36,740			36,740
Total equity
GECC shareowners' equity, begining balance, Jan 1					87,499	[1]	82,694
Noncontrolling interests(c) (Note 8)		3,160	[1],[2]	2,804	3,160	[1],[2]	2,804	$ 3,083	2,899	[1],[2]	$ 350	$ 432
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 71,326	[1]	$ 89,077	$ 71,326	[1]	$ 89,077		$ 90,398	[1]

[1] Amounts may not add due to rounding.

[2] (c) Included AOCI attributable to noncontrolling interests of $ (178) million and $ (154) million at September 30, 2015 and December 31, 2014 , respectively.

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Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables (Credit Quality) (Details) NumberOfCustomer in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($) NumberOfCustomer	Dec. 31, 2014 USD ($)
Credit Quality Indicators
Loans and leases receivable, Gross	$ 87,204	$ 126,561
Number Of Consumer Financing Receivable Customers Across US Including Private Label Credit Card And Sales Financing | NumberOfCustomer	63
Percentage Of US Consumer Financing Receivables Related To Credit Cards Loans	66.00%
Percentage Of US Consumer Financing Receivables Related To Sales Finance Receivables	34.00%
Credit derivative internal grouping parameter	3
Default Risk [Member]
Credit Quality Indicators
Credit derivative internal grouping parameter	21
Loss Given Default [Member]
Credit Quality Indicators
Credit derivative internal grouping parameter	6
Secured Financing Receivables Portfolio [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	$ 23,230	25,366
Secured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	130	232
Secured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	310	346
Secured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	22,790	24,788
CLL [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	13,341	14,418
CLL [Member] | Secured Financing Receivables Portfolio [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	13,341	14,418
CLL [Member] | Secured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	37	98
CLL [Member] | Secured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	44	49
CLL [Member] | Secured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	13,260	14,271
Energy Financial Services [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	2,443	2,580
Energy Financial Services [Member] | Secured Financing Receivables Portfolio [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	2,342	2,555
Energy Financial Services [Member] | Secured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	0	16
Energy Financial Services [Member] | Secured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	41	60
Energy Financial Services [Member] | Secured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	2,301	2,479
GECAS [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	7,394	8,263
GECAS [Member] | Secured Financing Receivables Portfolio [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	7,394	8,263
GECAS [Member] | Secured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	93	118
GECAS [Member] | Secured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	225	237
GECAS [Member] | Secured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	7,076	7,908
Other Commercial [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	506	480
Other Commercial [Member] | Secured Financing Receivables Portfolio [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	153	130
Other Commercial [Member] | Secured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	0	0
Other Commercial [Member] | Secured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	0	0
Other Commercial [Member] | Secured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	153	130
Commercial [Member] | Unsecured Financing Receivables Portfolio [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	0	0
Commercial [Member] | Unsecured Financing Receivables Portfolio [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	289	287
Commercial [Member] | Unsecured Financing Receivables Portfolio [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	$ 165	88
Consumer [Member]
Credit Quality Indicators
Maximum Percentage Of Private Label Consumer Financing Receivables Located In Any Metropolitan Area	5.00%
Consumer [Member] | US
Credit Quality Indicators
Maximum Percentage Of Private Label Consumer Financing Receivables Located In Any Metropolitan Area	6.00%
Consumer [Member] | US | US Installment And Revolving Credit [Member] | Score 661 or Higher
Credit Quality Indicators
Loans and leases receivable, Gross	$ 45,383	43,466
Consumer [Member] | US | US Installment And Revolving Credit [Member] | Score 601 to 660
Credit Quality Indicators
Loans and leases receivable, Gross	12,304	11,865
Consumer [Member] | US | US Installment And Revolving Credit [Member] | Score 600 or Less
Credit Quality Indicators
Loans and leases receivable, Gross	4,403	4,532
Other Consumer [Member] | Category C [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	175	382
Other Consumer [Member] | Category B [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	117	276
Other Consumer [Member] | Category A [Member]
Credit Quality Indicators
Loans and leases receivable, Gross	$ 1,138	$ 5,006

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Fair Value Measurements (Significant Unobservable Input) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	10.40%
Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	11.00%
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	$ 97	$ 295
Fair Value, Inputs, Level 3
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, Measurement Recurring Basis, Asset Value	2,689	2,594
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	38	123
Fair Value, Measurement Recurring Basis, Asset Value	3,842	3,948	$ 3,855	$ 4,063	$ 4,130	$ 3,878
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	38
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Domestic Corporate Debt Securities [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	$ 863	$ 917
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Domestic Corporate Debt Securities [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	2.20%	1.50%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Domestic Corporate Debt Securities [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	15.30%	14.80%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Domestic Corporate Debt Securities [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	7.40%	6.60%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Asset-backed Securities [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure		$ 102
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Asset-backed Securities [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	5.00%	4.30%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Asset-backed Securities [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	10.00%	9.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Asset-backed Securities [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	9.10%	5.60%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Foreign Corporate Debt Securities [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	$ 226	$ 278
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Foreign Corporate Debt Securities [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	6.50%	3.30%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Foreign Corporate Debt Securities [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	14.00%	14.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Foreign Corporate Debt Securities [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	7.40%	6.50%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | State And Municipal Debt Securities [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure		$ 17
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | State And Municipal Debt Securities [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		4.90%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | State And Municipal Debt Securities [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		4.90%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | State And Municipal Debt Securities [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		4.90%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Other 1 [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Individually Insignificant Recurring Fair Value Measurements	$ 14	$ 30
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value measurments - nonrecurring	$ 18,015
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	5.60%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	8.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Financing receivables and loans held for sale [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	6.70%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		8.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		10.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate		9.40%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Market Comparables [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
EBITDA Multiple		1.8
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Market Comparables [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
EBITDA Multiple		5.2
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Market Comparables [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
EBITDA Multiple		4.8
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach, Market Comparables [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Investments, Fair Value Disclosure	$ 2,134	$ 309
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach, Market Comparables [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	9.00%
Price to book multiple	0.4
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach, Market Comparables [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	14.50%
Price to book multiple	0.7
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Cost and equity method investments [Member] | Income Approach, Market Comparables [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	11.80%
Price to book multiple	0.6
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value measurments - nonrecurring	$ 198	$ 664
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach [Member] | Lower Limit
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	1.70%	2.00%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	9.80%	10.80%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Long Lived Assets, Including Real Estate [Member] | Income Approach [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Discount Rate	6.20%	6.70%
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Other 1 [Member]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value measurments - nonrecurring	$ 267	$ 657
Individually Insignificant NonRecurring Fair Value Measurements	$ 171	$ 6

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Borrowings and Bank Deposits (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Borrowings

(In millions)	September 30, 2015		December 31, 2014
Short-term borrowings
Commercial paper(a)
U.S.	$	9,811	$	22,019
Non-U.S.		3,103		2,993
Current portion of long-term borrowings(a)(b)(c)		29,679		36,995
GE Interest Plus notes(d)		-		5,467
Other(c)		287		231
Total short-term borrowings	$	42,880	$	67,705
Long-term borrowings
Senior unsecured notes(a)(b)(e)	$	144,935	$	162,194
Subordinated notes(a)		4,715		4,804
Subordinated debentures(a)(f)(g)		6,782		7,085
Other(a)(c)(h)		7,751		12,676
Total long-term borrowings	$	164,183	$	186,759
Non-recourse borrowings of
consolidated securitization entities(i)	$	16,225	$	19,369
Bank deposits(j)	$	48,656	$	43,841
Total borrowings and bank deposits	$	271,944	$	317,674

• On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short term borrowings included $12,914 million of commercial paper and $28,373 million of the current portion of long-term borrowings. Long-term borrowings included $131,230 million of senior unsecured notes, $3,971 million of subordinated notes, $6,782 million of subordinated debentures, and $400million of other.
• Included $431 million and $439million of obligations to holders of GICs at September 30, 2015 and December 31, 2014, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC’s ratings, among other things.
• Included $4,969 million and $4,835million of funding secured by real estate, aircraft and other collateral at September 30, 2015 and December 31, 2014, respectively, of which $1,216 million and $1,183 million is non-recourse to GECC at September 30, 2015 and December 31, 2014, respectively.
• Entirely variable denomination floating-rate demand notes. The GE Interest Plus program was closed effective August 31, 2015.
• Included $5,589 million and $3,594 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
• Subordinated debentures receive rating agency equity credit.
• Included $2,636 million of subordinated debentures, which constitute the sole assets of trusts that have issued trust preferred securities and where GECC owns 100% of the common securities of the trusts. Obligations associated with these trusts are unconditionally guaranteed by GECC.
• Included $4,651 million and $8,245 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
• Included $1,934 million and $3,377million of current portion of long-term borrowings at September 30, 2015 and December 31, 2014, respectively. See Note 12.
• Included $8,108 million and $8,905 million of deposits in non-U.S. banks at September 30, 2015 andDecember 31, 2014, respectively, and $15,990 million and $14,500 million of certificates of deposits with maturities greater than one year at September 30, 2015 and December 31, 2014, respectively.

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Financial Instruments (Cash flow hedges) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary Of Cash Flow Hedge Activity [Line Items]
Pre-tax gain (loss) included in AOCI related to cash flow hedges of forecasted transactions			$ 213
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ (189)
Maximum term of hedged forecasted transactions			P17Y	P18Y
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Summary Of Cash Flow Hedge Activity [Line Items]
Gain (loss) recognized in AOCI	$ (126)	$ (293)	$ (794)	$ (267)
Gain (loss) reclassified from AOCI into earnings	(113)	(430)	(699)	(569)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract
Summary Of Cash Flow Hedge Activity [Line Items]
Gain (loss) recognized in AOCI	10	9	0	0
Gain (loss) reclassified from AOCI into earnings	(39)	(53)	(100)	(182)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Foreign Exchange Contract
Summary Of Cash Flow Hedge Activity [Line Items]
Gain (loss) recognized in AOCI	(136)	(302)	(794)	(267)
Gain (loss) reclassified from AOCI into earnings	$ (75)	$ (377)	$ (600)	$ (387)

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Businesses Held for Sale, Financing Receivables Held for Sale and Discontinued Operations (Assets and Liabilities of Businesses Held for Sale) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Assets
Investment securities (Note 3)	[1]	$ 36,868		$ 38,320
Inventory, Net	[1]	59		50
Assets of businesses held for sale	[1]	121,940		186,924
Liabilities
Short-term Debt		42,880		67,705
Deferred Tax Liabilities, Net	[1]	6,458		3,420
Liabilities of businesses held for sale	[1]	43,642		48,657
Additional disclosures
Proceeds from Divestiture of Businesses, Net of Cash Divested	[1]	42,486	$ 232
Proceeds from sale	[1]	1,274	$ 0
Held for sale
Assets
Cash and cash equivalents		299		676
Investment securities (Note 3)		0		448
Financing receivables - net		4,141		2,144
Property, plant and equipment - net		15		37
Goodwill		366		106
Intangible assets - net		73		13
Other		23		50
Assets of businesses held for sale		4,917		3,474
Liabilities
Short-term Debt		27		435
Bank deposits		0		1,931
Deferred Tax Liabilities, Net		(123)		(31)
Other		356		99
Liabilities of businesses held for sale		$ 260		$ 2,434

[1] Amounts may not add due to rounding.

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Supplemental Information About The Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables

9 Months Ended

Sep. 30, 2015

Credit Quality Financing Receivables [Abstract]

Supplemental Information About Credit Quality Of Financing Receivables And Allowance For Losses On Financing Receivables

NOTE13. SUPPLEMENTAL INFORMATION ABOUT THE CREDIT QUALITY OF FINANCING RECEIVABLES AND ALLOWANCE FOR LOSSES

As described in Note 4, our Consumer portfolio has been significantly reduced as all of our non-U.S. consumer financing receivableshavebeen reclassified to either financing receivables held for sale or assets of businesses held for sale. In addition our Real Estate business and most of our CLL business have been classified as discontinued operations.

Credit Quality Indicators

Detailed information about the credit quality of our Commercial and Consumer financing receivables portfolios is provided below. For each portfolio, we describe the characteristics of the financing receivables and provide information about collateral, payment performance, credit quality indicators and impairment. We manage these portfolios using delinquency and nonaccrual data as key performance indicators. The categories used within this section such as impaired loans, troubled debt restructuring (TDR) and nonaccrual financing receivables are defined by the authoritative guidance and we base our categorization on the related scope and definitions contained in the related standards. The categories of nonaccrual and delinquent are used in our process for managing our financing receivables.

PAST DUE AND NONACCRUAL FINANCING RECEIVABLES
		September 30, 2015								December 31, 2014
		Over 30 days		Over 90 days						Over 30 days		Over 90 days
(In millions)		past due		past due			Nonaccrual			past due		past due			Nonaccrual
Commercial
CLL	$	655	$	174		$	27		$	610	$	131		$	25
Energy Financial Services		63		63			82			-		-			68
GECAS		2		-			195			-		-			419
Total Commercial		720		237			304	(a)		610		131			512	(a)
Consumer		2,553		1,102	(b)		2	(c)		5,137		2,495	(b)		1,484	(c)
Total	$	3,273	$	1,339		$	306		$	5,747	$	2,626		$	1,996
Total as a percent of financing receivables		3.8 %		1.5 %			0.4 %			4.5 %		2.1 %			1.6 %

(a) Included $228 million and $484 million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

• Included $1,100million and $1,231million of Consumer loans at September 30, 2015 and December 31, 2014, respectively, which are over 90 days past due and continue to accrue interest until the accounts are written off in the period that the account becomes 180 days past due.
• Included noneand $179million at September 30, 2015 and December 31, 2014, respectively, which are currently paying in accordance with their contractual terms.

IMPAIRED LOANS AND RELATED RESERVES
	With no specific allowance						With a specific allowance
	Recorded		Unpaid		Average		Recorded		Unpaid					Average
	investment		principal		investment		investment		principal			Associated		investment
(In millions)	in loans		balance		in loans		in loans		balance			allowance(a)		in loans
September 30, 2015
Commercial
CLL	$	11	$	11	$	11	$	5	$	5		$	3	$	5
Energy Financial Services		82		100		54		-		-			-		6
GECAS		116		122		213		-		-			-		-
Other		-		-		-		-		-			-		-
Total Commercial(b)		209		233		278		5		5			3		11
Consumer(c)		-		-		35		736		640	(d)		242		1,055
Total	$	209	$	233	$	313	$	741	$	645		$	245	$	1,066
December 31, 2014
Commercial
CLL	$	10	$	10	$	7	$	5	$	5		$	4	$	4
Energy Financial Services		53		54		26		15		15			12		24
GECAS		329		337		88		-		-			-		15
Other		-		-		-		-		-			-		1
Total Commercial(b)		392		401		121		20		20			16		44
Consumer(c)		138		179		120		2,042		2,092			408		2,547
Total	$	530	$	580	$	241	$	2,062	$	2,112		$	424	$	2,591

• Write-offs to net realizable value are recognized against the allowance for losses primarily in the reporting period in which management has deemed all or a portion of the financing receivable to be uncollectible.
• We recognized insignificant amounts of interest income, including none on a cash basis, in the nine months endedSeptember 30, 2015, the year ended December 31, 2014 and the nine months endedSeptember 30, 2014, respectively, in CLL. The total average investment in impaired loans for the nine months endedSeptember 30, 2015 and the year ended December 31, 2014 was $289 million and $165 million, respectively.
• We recognized $48 million, $126 million and $135millionof interest income, including $1 million, $5 million and $3 million on a cash basis, in the nine months endedSeptember 30, 2015, the year ended December 31, 2014 and the nine months endedSeptember 30, 2014, respectively. The total average investment in impaired loans for the nine months endedSeptember 30, 2015 and the year ended December 31, 2014 was $1,090 million and $2,667 million, respectively.
• Unpaid principal balance excludes accrued interest and fees.

(In millions)	Non-impaired financing receivables		General reserves		Impaired loans		Specific reserves
September 30, 2015
Commercial	$	23,470	$	82	$	214	$	3
Consumer		62,784		3,130		736		242
Total	$	86,254	$	3,212	$	950	$	245
December 31, 2014
Commercial	$	25,329	$	77	$	412	$	16
Consumer		98,640		3,603		2,180		408
Total	$	123,969	$	3,680	$	2,592	$	424

IMPAIRED LOAN BALANCE CLASSIFIED BY THE METHOD USED TO MEASURE IMPAIRMENT
(In millions)	September 30, 2015		December 31, 2014
Discounted cash flow	$	819	$	2,149
Collateral value		131		443
Total	$	950	$	2,592

Our loss mitigation strategy is intended to minimize economic loss and, at times, can result in rate reductions, principal forgiveness, extensions, forbearance or other actions, which may cause the related loan to be classified as a troubled debt restructuring (TDR), and also as impaired. The determination of whether these changes to the terms and conditions of our commercial loans meet the TDR criteria includes our consideration of all relevant facts and circumstances. At September 30, 2015, TDRs included in impaired loans were $860 million, primarily relating to Consumer ($736 million), GECAS ($112 million), Energy Financial Services ($7 million) and CLL ($5 million).

Impaired loans in our Consumer business represent restructured smaller balance homogeneous loans meeting the definition of a TDR, and are therefore subject to the disclosure requirement for impaired loans. Impaired loans classified as TDRs in our Consumer business were $736 million and $2,132 million at September 30, 2015 and December 31, 2014, respectively. We utilize certain loan modification programs for borrowers experiencing financial difficulties in our Consumer loan portfolio. These loan modification programs primarily include interest rate reductions and payment deferrals in excess of three months, which were not part of the terms of the original contract. For the nine months endedSeptember 30, 2015, we modified $363million of U.S. consumer loans, primarily credit cards for borrowers experiencing financial difficulties, which are classified as TDRs. We expect borrowers whose loans have been modified under these programs to continue to be able to meet their contractual obligations upon the conclusion of the modification. Of our $621 million and $1,074million of consumer loans modifications classified as TDRs in the twelve months ended September 30, 2015 and 2014, respectively,$49million and $95 million have subsequently experienced a payment default in the nine months endedSeptember 30, 2015and 2014, respectively.

Supplemental Credit Quality Information

Commercial

Substantially all of our Commercial financing receivables portfolio is secured lending and we assess the overall quality of the portfolio based on the potential risk of loss measure. The metric incorporates both the borrower’s credit quality along with any related collateral protection.

Our internal risk ratings process is an important source of information in determining our allowance for losses and represents a comprehensive approach to evaluate risk in our financing receivables portfolios. In deriving our internal risk ratings, we stratify our Commercial portfolios into 21 categories of default risk and/or six categories of loss given default to group into three categories: A, B and C. Our process starts by developing an internal risk rating for our borrowers, which is based upon our proprietary models using data derived from borrower financial statements, agency ratings, payment history information, equity prices and other commercial borrower characteristics. We then evaluate the potential risk of loss for the specific lending transaction in the event of borrower default, which takes into account such factors as applicable collateral value, historical loss and recovery rates for similar transactions, and our collection capabilities. Our internal risk ratings process and the models we use are subject to regular monitoring and internal controls. The frequency of rating updates is set by our credit risk policy, which requires annual Risk Committee approval.

As described above, financing receivables are assigned one of 21 risk ratings based on our process and then these are grouped by similar characteristics into three categories in the table below. Category A is characterized by either high-credit-quality borrowers or transactions with significant collateral coverage that substantially reduces or eliminates the risk of loss in the event of borrower default. Category B is characterized by borrowers with weaker credit quality than those in Category A, or transactions with moderately strong collateral coverage that minimizes but may not fully mitigate the risk of loss in the event of default. Category C is characterized by borrowers with higher levels of default risk relative to our overall portfolio or transactions where collateral coverage may not fully mitigate a loss in the event of default.

COMMERCIAL FINANCING RECEIVABLES BY RISK CATEGORY
	Secured
(In millions)	A		B		C		Total
September 30, 2015
CLL	$	13,260	$	44	$	37	$	13,341
Energy Financial Services		2,301		41		-		2,342
GECAS		7,076		225		93		7,394
Other		153		-		-		153
Total	$	22,790	$	310	$	130	$	23,230
December 31, 2014
CLL	$	14,271	$	49	$	98	$	14,418
Energy Financial Services		2,479		60		16		2,555
GECAS		7,908		237		118		8,263
Other		130		-		-		130
Total	$	24,788	$	346	$	232	$	25,366

For our secured financing receivables portfolio, our collateral position and ability to work out problem accounts mitigate our losses. Our asset managers have deep industry expertise that enables us to identify the optimum approach to default situations. We price risk premiums for weaker credits at origination, closely monitor changes in creditworthiness through our risk ratings and watch list process, and are engaged early with deteriorating credits to minimize economic loss. Loans within Category C are reviewed and monitored regularly, and classified as impaired when it is probable that they will not pay in accordance with contractual terms. Our internal risk rating process identifies credits warranting closer monitoring; and as such, these loans are not necessarily classified as nonaccrual or impaired.

At September 30, 2015 and December 31, 2014, our unsecured commercial financing receivables included $165 million and $88 million rated A, and $289 million and $287 million rated B, respectively. We did not have any unsecured commercial financing receivables rated Cat September 30, 2015 and December 31, 2014, respectively.

Consumer

At September 30, 2015, our U.S. consumer financing receivables included private-label credit card and sales financing for approximately 63 million customers across the U.S. with no metropolitan area accounting for more than 6% of the portfolio. Of the total U.S. consumer financing receivables, approximately 66% relate to credit card loans that are often subject to profit and loss sharing arrangements with the retailer (which are recorded in revenues), and the remaining 34% are sales finance receivables that provide financing to customers in areas such as electronics, recreation, medical and home improvement.

Our Consumer financing receivables portfolio comprises both secured and unsecured lending. Secured financing receivables are largely comprised of consumer installment loans secured by equipment. Unsecured financing receivables include private-label credit card financing. A substantial majority of these cards are not for general use and are limited to the products and services sold by the retailer. The private-label portfolio is diverse with no metropolitan area accounting for more than 5% of the related portfolio.

We assess overall credit quality of our U.S. installment and revolving credit portfolio using information from credit bureaus such as Fair Isaac Corporation (FICO) scores. FICO scores are generally obtained at origination of the account and are refreshed at a minimum quarterly, but could be as often as weekly, to assist in predicting customer behavior. We categorize these credit scores into the following three categories; (a) 661 or higher, which are considered the strongest credits; (b) 601 to 660, which are considered moderate credit risk; and (c) 600 or less, which are considered weaker credits.

	Refreshed FICO score
	September 30, 2015						December 31, 2014
	661 or		601 to		600 or		661 or		601 to		600 or
(in millions)	higher		660		less		higher		660		less
U.S. installment and
revolving credit	$	45,383	$	12,304	$	4,403	$	43,466	$	11,865	$	4,532

U.S. installment and revolving credit accounts with FICO scores of 600 or less have an average outstanding balance less than one thousand U.S. dollars and are primarily concentrated in our retail card and sales financing portfolios, which minimizes the potential for loss in the event of default. For lower credit scores, we adequately price for the incremental risk at origination and monitor credit migration through our risk ratings process. We continuously adjust our credit line underwriting management and collection strategies based on customer behavior and risk profile changes.

For our Consumer - Other portfolio, we develop our internal risk ratings for this portfolio in a manner consistent with the process used to develop our Commercial credit quality indicators, described above. We use the borrower’s credit quality and underlying collateral strength to determine the potential risk of loss from these activities.

At September 30, 2015, Consumer - Other financing receivables of $1,138 million, $117 million and $175 million were rated A, B and C, respectively. At December 31, 2014, Consumer – Other financing receivables of $5,006 million, $276 million and $382 million were rated A, B and C, respectively.