0000040554-11-000111.txt : 20110722 0000040554-11-000111.hdr.sgml : 20110722 20110722100803 ACCESSION NUMBER: 0000040554-11-000111 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110722 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110722 DATE AS OF CHANGE: 20110722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06461 FILM NUMBER: 11981605 BUSINESS ADDRESS: STREET 1: 3135 EASTON TURNPIKE CITY: FAIRFIELD STATE: CT ZIP: 06828-0001 BUSINESS PHONE: 203-373-2211 MAIL ADDRESS: STREET 1: 3135 EASTON TURNPIKE CITY: FAIRFIELD STATE: CT ZIP: 06828-0001 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 8-K 1 gecc8kq211.htm GECC 8-K Q2'11 gecc8kq211.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 


Date of Report (Date of earliest event reported) July 22, 2011
 
 
General Electric Capital Corporation
  
 
(Exact name of registrant as specified in its charter)
  
 
Delaware
  
1-6461
  
13-1500700
(State or other jurisdiction
of incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
         
901 Main Avenue, Norwalk, Connecticut
      
06851-1168
(Address of principal executive offices)
      
(Zip Code)
         
Registrant’s telephone number, including area code   (203) 840-6300
 
     
(Former name or former address, if changed since last report.)

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


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Item 8.01 Other Events.
 
On July 22, 2011, our ultimate parent, General Electric Company, issued a press release setting forth GE’s second-quarter 2011 earnings. Attached hereto as Exhibit 99 and hereby incorporated by reference is a schedule of selected financial information related to the results of operation for the three and six months ended June 30, 2011 and financial position at June 30, 2011 of General Electric Capital Corporation.

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

 

 

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

   
General Electric Capital Corporation
  
   
(Registrant)
  
       
Date: July 22, 2011
  
/s/Jamie S. Miller
  
   
Jamie S. Miller
  
   
Senior Vice President and Controller
  

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EX-99 2 geccexhibit99.htm GECC EXHIBIT 99 Q2'11 geccexhibit99.htm
Exhibit 99
 
General Electric Capital Corporation
 
Condensed Statement of Earnings
 


 
Three months ended June 30
    
Six months ended June 30
  
(In millions, Unaudited)
  
2011
    
2010
  
V
%
    
2011
    
2010
  
V
%
                                   
Revenues
                                  
Revenues from services
$
11,584
  
$
11,614
        
$
23,753
  
$
23,126
      
Sales of goods
  
42
    
168
          
84
    
449
      
   Total revenues
  
11,626
    
11,782
  
 (1)%
      
23,837
    
23,575
  
1%
  
                                   
Costs and expenses
                                  
Costs of sales, operating and administrative expenses
  
5,149
    
5,473
          
10,316
    
11,161
      
Interest
  
3,583
    
3,638
          
7,164
    
7,327
      
Investment contracts, insurance losses and insurance
                                  
   annuity benefits
  
30
    
38
          
54
    
73
      
Provision for losses on financing receivables
  
811
    
2,007
          
1,968
    
4,187
      
   Total costs and expenses
  
9,573
    
11,156
  
 (14)%
      
19,502
    
22,748
  
 (14)%
  
                                   
Earnings from continuing operations before
                                  
   income taxes
  
2,053
    
626
  
F
      
4,335
    
827
  
F
  
Benefit (provision) for income taxes
  
(378)
    
95
          
(824)
    
459
      
Earnings from continuing operations
  
1,675
    
721
  
F
      
3,511
    
1,286
  
F
  
                                   
Earnings (loss) from discontinued operations,
                                  
   net of taxes
  
218
    
(100)
          
275
    
(450)
      
                                   
Net earnings
  
1,893
    
621
  
F
      
3,786
    
836
  
F
  
                                   
Less net earnings (loss) attributable to
                                  
    noncontrolling interests
  
20
    
(22)
          
51
    
(27)
      
Net earnings attributable to GECC
$
1,873
  
$
643
  
F
    
$
3,735
  
$
863
  
F
  
                                   
                                   
Amounts attributable to GECC:
                                  
Earnings from continuing operations
$
1,655
  
$
743
  
F
    
$
3,460
  
$
1,313
  
F
  
Earnings (loss) from discontinued operations, net of taxes
  
218
    
(100)
          
275
    
(450)
      
Net earnings attributable to GECC
$
1,873
  
$
643
  
F
    
$
3,735
  
$
863
  
F
  

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General Electric Capital Corporation
 
Summary of Operating Segments
 


 
Three months ended June 30,
    
Six months ended June 30,
  
(In millions, Unaudited)
  
2011
    
2010
  
V
%
    
2011
    
2010
  
V
%
                                   
Revenues
                                  
   Commercial Lending and Leasing (CLL)
$
4,666
  
$
4,506
  
4%
    
$
9,274
  
$
9,100
  
2%
  
   Consumer
  
4,176
    
4,317
  
 (3)%
      
9,003
    
8,743
  
3%
  
   Real Estate
  
992
    
991
  
-%
      
1,899
    
1,935
  
 (2)%
  
   Energy Financial Services
  
365
    
595
  
 (39)%
      
710
    
1,386
  
 (49)%
  
   GE Capital Aviation Services (GECAS)
  
1,327
    
1,259
  
5%
      
2,652
    
2,498
  
6%
  
      Total segment revenues
  
11,526
    
11,668
  
 (1)%
      
23,538
    
23,662
  
 (1)%
  
   GECC corporate items and eliminations
  
100
    
114
  
 (12)%
      
 299
    
 (87)
  
F
  
Total Revenues
$
11,626
  
$
11,782
  
 (1)%
    
$
23,837
  
$
23,575
  
1%
  
                                   
Segment profit
                                  
   CLL
$
701
  
$
312
  
F
    
$
1,255
  
$
544
  
F
  
   Consumer
  
1,020
    
649
  
57%
      
2,239
    
1,204
  
86%
  
   Real Estate
  
(335)
    
(524)
  
36%
      
(693)
    
(927)
  
25%
  
   Energy Financial Services
  
139
    
126
  
10%
      
251
    
279
  
 (10)%
  
   GECAS
  
321
    
288
  
11%
      
627
    
605
  
4%
  
      Total segment profit
  
1,846
    
851
  
F
      
3,679
    
1,705
  
F
  
   GECC corporate items and eliminations
  
(191)
    
(108)
  
 (77)%
      
(219)
    
(392)
  
44%
  
Earnings from continuing operations
                                  
   attributable to GECC
  
1,655
    
743
  
F
      
3,460
    
1,313
  
F
  
Earnings (loss) from discontinued operations,
                                  
   net of taxes, attributable to GECC
  
218
    
(100)
  
F
      
275
    
(450)
  
F
  
Net earnings attributable to GECC
$
1,873
  
$
643
  
F
    
$
3,735
  
$
863
  
F
  
                                   

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General Electric Capital Corporation.
 
Condensed Statement of Financial Position
 


 
June 30,
  
December 31,
(In billions, Unaudited)
2011
  
2010
         
Assets
          
   Cash & marketable securities
$
 95.6
  
$
 77.5
   Inventories
  
 0.1
    
 0.1
   Financing receivables - net
  
 300.7
    
 312.2
   Property, plant & equipment - net
  
 55.3
    
 53.7
   Goodwill & intangible assets
  
 30.0
    
 29.4
   Other assets
  
 88.1
    
 92.7
   Assets of businesses held for sale
  
 0.9
    
 3.1
   Assets of discontinued operations
  
 6.4
    
 12.4
           
Total assets
$
 577.1
  
$
 581.1
           
           
Liabilities and equity
          
   Borrowings and bank deposits
$
 458.1
  
$
 465.3
   Investment contracts, insurance liabilities and insurance annuity benefits
  
 5.1
    
 5.8
   Other liabilities
  
 31.7
    
 33.1
   Liabilities of businesses held for sale
  
 0.5
    
 0.6
   Liabilities of discontinued operations
  
 1.7
    
 2.2
   GECC shareowner's equity
  
 78.8
    
 72.9
   Noncontrolling interests
  
 1.2
    
 1.2
           
Total liabilities and equity
$
 577.1
  
$
 581.1


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