0000040554-11-000152.txt : 20111021 0000040554-11-000152.hdr.sgml : 20111021 20111021113904 ACCESSION NUMBER: 0000040554-11-000152 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111021 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111021 DATE AS OF CHANGE: 20111021 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: 111151688 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 geccform8k10212011.htm GECC FORM 8-K 10-21-2011 geccform8k10212011.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) October 21, 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))


 
(1)
 

Item 8.01 Other Events.
 
On October 21, 2011, our ultimate parent, General Electric Company, issued a press release setting forth GE’s third-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 nine months ended September 30, 2011 and financial position at September 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

 

 

 
(2)
 

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: October 21, 2011
  
/s/Jamie S. Miller
  
   
Jamie S. Miller
  
   
Senior Vice President and Controller
  

 
(3)
 

EX-99 2 exhibit99.htm EXHIBIT 99 exhibit99.htm
Exhibit 99
 
General Electric Capital Corporation
Condensed Statement of Earnings
 


 
Three months ended September 30
    
Nine months ended September 30
  
(In millions, Unaudited)
  
2011 
    
2010 
  
V
%
    
2011 
    
2010 
  
V
%
                                   
Revenues
                                  
Revenues from services
$
11,116 
  
$
11,061 
        
$
34,869 
  
$
34,187 
      
Sales of goods
  
32 
    
40 
          
116 
    
489 
      
   Total revenues
  
11,148 
    
11,101 
  
–
%
    
34,985 
    
34,676 
  
1 
%
                                   
Costs and expenses
                                  
Costs of sales, operating and administrative expenses
  
4,973 
    
5,393 
          
15,289 
    
16,554 
      
Interest
  
3,557 
    
3,565 
          
10,721 
    
10,892 
      
Investment contracts, insurance losses and insurance
                                  
   annuity benefits
  
27 
    
36 
          
81 
    
109 
      
Provision for losses on financing receivables
  
1,020 
    
1,637 
          
2,988 
    
5,824 
      
   Total costs and expenses
  
9,577 
    
10,631 
  
(10)
%
    
29,079 
    
33,379 
  
(13)
%
                                   
Earnings from continuing operations before
                                  
   income taxes
  
1,571 
    
470 
  
F
      
5,906 
    
1,297 
  
F
  
Benefit (provision) for income taxes
  
(66)
    
366 
          
(890)
    
825 
      
Earnings from continuing operations
  
1,505 
    
836 
  
80 
%
    
5,016 
    
2,122 
  
F
  
                                   
Earnings (loss) from discontinued operations,
                                  
   net of taxes
  
2 
    
(1,051)
          
277 
    
(1,501)
      
                                   
Net earnings (loss)
  
1,507 
    
(215)
  
F
      
5,293 
    
621 
  
F
  
                                   
Less net earnings (loss) attributable to
                                  
    noncontrolling interests
  
38 
    
18 
          
89 
    
(9)
      
Net earnings (loss) attributable to GECC
$
1,469 
  
$
(233)
  
F
    
$
5,204 
  
$
630 
  
F
  
                                   
                                   
Amounts attributable to GECC:
                                  
Earnings from continuing operations
$
1,467 
  
$
818 
  
79 
%
  
$
4,927 
  
$
2,131 
  
F
  
Earnings (loss) from discontinued operations, net of taxes
  
2 
    
(1,051)
          
277 
    
(1,501)
      
Net earnings (loss) attributable to GECC
$
1,469 
  
$
(233)
  
F
    
$
5,204 
  
$
630 
  
F
  

 
(1)
 


General Electric Capital Corporation
Summary of Operating Segments
 


 
Three months ended September 30
    
Nine months ended September 30
  
(In millions, Unaudited)
  
2011 
    
2010 
  
V
%
    
2011 
    
2010 
  
V
%
                                   
Revenues
                                  
   Commercial Lending and Leasing (CLL)
$
4,512 
  
$
4,551 
  
 (1)%
    
$
13,786 
  
$
13,651 
  
1%
  
   Consumer
  
4,032 
    
4,097 
  
 (2)%
      
13,035 
    
12,840 
  
2%
  
   Real Estate
  
935 
    
953 
  
 (2)%
      
2,834 
    
2,888 
  
 (2)%
  
   Energy Financial Services
  
221 
    
291 
  
 (24)%
      
931 
    
1,677 
  
 (44)%
  
   GE Capital Aviation Services (GECAS)
  
1,265 
    
1,321 
  
 (4)%
      
3,917 
    
3,819 
  
3%
  
      Total segment revenues
  
10,965 
    
11,213 
  
 (2)%
      
34,503 
    
34,875 
  
 (1)%
  
   GECC corporate items and eliminations
  
183 
    
(112)
  
F
      
 482 
    
 (199)
  
F
  
Total Revenues
$
11,148 
  
$
11,101 
  
–%
    
$
34,985 
  
$
34,676 
  
1%
  
                                   
Segment profit
                                  
   CLL
$
688 
  
$
443 
  
55%
    
$
1,943 
  
$
987 
  
97%
  
   Consumer
  
737 
    
773 
  
 (5)%
      
2,976 
    
1,977 
  
51%
  
   Real Estate
  
(82)
    
(405)
  
80%
      
(775)
    
(1,332)
  
42%
  
   Energy Financial Services
  
79 
    
55 
  
44%
      
330 
    
334 
  
 (1)%
  
   GECAS
  
208 
    
158 
  
32%
      
835 
    
763 
  
9%
  
      Total segment profit
  
1,630 
    
1,024 
  
59%
      
5,309 
    
2,729 
  
95%
  
   GECC corporate items and eliminations
  
(163)
    
(206)
  
21%
      
(382)
    
(598)
  
36%
  
Earnings from continuing operations
                                  
   attributable to GECC
  
1,467 
    
818 
  
79%
      
4,927 
    
2,131 
  
F
  
Earnings (loss) from discontinued operations,
                                  
   net of taxes, attributable to GECC
  
2 
    
(1,051)
  
F
      
277 
    
(1,501)
  
F
  
Net earnings (loss) attributable to GECC
$
1,469 
  
$
(233)
  
F
    
$
5,204 
  
$
630 
  
F
  
                                   

 
(2)
 


General Electric Capital Corporation
Condensed Statement of Financial Position
 


 
September 30,
  
December 31,
(In billions, Unaudited)
2011 
  
2010 
         
Assets
          
   Cash & marketable securities
$
 99.8 
  
$
 77.5 
   Inventories
  
– 
    
 0.1 
   Financing receivables - net
  
 293.7 
    
 312.2 
   Property, plant & equipment - net
  
 52.3 
    
 53.7 
   Goodwill & intangible assets
  
 29.4 
    
 29.4 
   Other assets
  
 92.9 
    
 92.7 
   Assets of businesses held for sale
  
 3.1 
    
 3.1 
   Assets of discontinued operations
  
 1.5 
    
 12.4 
           
Total assets
$
 572.7 
  
$
 581.1 
           
           
Liabilities and equity
          
   Borrowings and bank deposits
$
 451.6 
  
$
 465.3 
   Investment contracts, insurance liabilities and insurance annuity benefits
  
 4.9 
    
 5.8 
   Other liabilities
  
 32.8 
    
 33.1 
   Liabilities of businesses held for sale
  
 1.8 
    
 0.6 
   Liabilities of discontinued operations
  
 1.3 
    
 2.2 
   GECC shareowner's equity
  
 79.1 
    
 72.9 
   Noncontrolling interests
  
 1.2 
    
 1.2 
           
Total liabilities and equity
$
 572.7 
  
$
 581.1 


 
(3)