Shareowners' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note [Abstract]

Shareowners' Equity

NOTE 11. SHAREOWNER'S EQUITY

(In millions)	2011		2010		2009
Common stock issued	$	56	$	56	$	56
Accumulated other comprehensive income
Balance at January 1(a)	$	(3,605)	$	(1,956)	$	(6,970)
Investment securities - net of deferred taxes
of $(155), $314, and $494		(365)		498		1,341
Currency translation adjustments - net of deferred taxes
of $(703), $2,196 and $(666)		615		(2,779)		2,593
Cash flow hedges - net of deferred taxes
of $214, $(511) and $917		(990)		(508)		896
Benefit plans - net of deferred taxes
of $(107), $10 and $(25)(b)		(204)		20		(93)
Reclassification adjustments
Investment securities - net of deferred taxes
of $1, $27 and $255		31		51		(4)
Currency translation adjustments - net of deferred taxes
of $357, $22 and $(51)		381		58		(28)
Cash flow hedges - net of deferred taxes
$205, $723 and $399		1,110		977		541
Benefit plans - net of deferred taxes
of $11, $17 and $11(c)		21		34		26
Balance at December 31	$	(3,006)	$	(3,605)	$	(1,698)
Additional paid-in capital
Balance at January 1	$	28,463	$	28,431	$	19,671
Contributions and other(d)		(1)		32		8,760
Balance at December 31	$	28,462	$	28,463	$	28,431
Retained earnings
Balance at January 1(e)	$	47,967	$	45,622	$	45,497
Net earnings		6,566		2,291		1,613
Dividends (d)		0		0		0
Other(d)(f)		0		54		(181)
Balance at December 31	$	54,533	$	47,967	$	46,929
Total equity
GECC shareowner's equity balance at December 31	$	80,045	$	72,881	$	73,718
Noncontrolling interests balance at December 31(g)		690		1,164		2,204
Total equity balance at December 31	$	80,735	$	74,045	$	75,922

• The 2010 opening balance was adjusted as of January 1, 2010, for the cumulative effect of changes in accounting principles of $258 million related to the adoption of ASU 2009-16 & 17.
• For 2011, included $(6) million of prior service costs for plan amendments and $(198) million of actuarial gains (losses) arising during the year – net of deferred taxes of $(3) million and $(104) million, respectively. For 2010, included $10 million of prior service costs for plan amendments and $10 million for actuarial gains (losses) arising during the year – net of deferred taxes of $5 million and $5 million, respectively. For 2009, included $(93) million of prior actuarial gains (losses) arising during the year – net of deferred taxes of $(25) million.
• For 2011, included $(2) million of amortization of prior service costs and $23 million of amortization of actuarial gains and losses – net of deferred taxes of $11 million for amortization of actuarial gains and losses. For 2010, included $34 million of amortization of actuarial gains and losses – net of deferred taxes of $17 million. For 2009, included $26 million of amortization of actuarial gains and losses – net of deferred taxes of $11 million.
• Total dividends and other transactions with the shareowner increased (decreased) equity by $(1) million in 2011, $86 million in 2010 and$8,579 million in 2009.
• The 2010 opening balance was adjusted as of January 1, 2010, for the cumulative effect of changes in accounting principles of $1,307 million related to the adoption of ASU 2009-16 & 17. The 2009 opening balance was adjusted as of April 1, 2009, for the cumulative effect of changes in accounting principles of $25 million related to adopting amendments on impairment guidance in ASC 320, Investments – Debt and Equity Securities.
• Included the effects of accretion of redeemable securities to their redemption value of $38 million and $(23) million in 2010 and 2009, respectively.
• On January 1, 2009, we adopted an amendment to ASC 810, Consolidation, that requires us to classify noncontrolling interests (previously referred to as “minority interest”) as part of shareowner's equity and to disclose the amount of other comprehensive income attributable to noncontrolling interests.

All common stock is owned by GE Capital Services, all of the common stock of which is in turn owned by GE Company.

Activities of our financial services consolidated affiliates include lending, leasing and other traditional financial services transactions and relate to approximately $128.1 billion of our total assets. These consolidated affiliates may be subject to regulation by various national authorities including banking, financial services and insurance regulators, and are restricted from remitting certain funds to us in the form of dividends or loans. However, such funds are available for use by these affiliates, without restriction, to repay borrowings, to fund new loans, or for other normal business purposes.Our regulated bank subsidiaries are also subject to minimum regulatory capital requirements and we have also committed to maintain the total capital level for GECS' run-off insurance operations at 300% of the regulatory minimum required level. In February 2012, GECC contributed cash of $0.4 billion to these operations. At December 31, 2011, restricted net assets of our financial services consolidated affiliates were approximately $17.5 billion.

Noncontrolling Interests

Noncontrolling interests in equity of consolidated affiliates includes common shares in consolidated affiliates and preferred stock issued by our affiliates. Preferred shares that we are required to redeem at a specified or determinable date are classified as liabilities. The balance is summarized as follows:

December 31 (In millions)	2011		2010
Noncontrolling interests in consolidated affiliates(a)	$	690	$	889
Preferred stock(b)		0		275
	$	690	$	1,164

• Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates.
• The preferred stock paid cumulative dividends at an average rate of 6.81% in 2010 and was retired in 2011.

Changes to noncontrolling interests are as follows.

(In millions)	2011		2010		2009
Beginning balance	$	1,164	$	2,204	$	2,383
Net earnings		127		16		15
Dividends		(20)		(7)		(11)
Dispositions(a)		(586)		(979)		(331)
AOCI and other (b)		5		(70)		148
Ending balance	$	690	$	1,164	$	2,204

• Includes noncontrolling interests related to the sale of GE SeaCo of $(311) million and the redemption of Heller Financial preferred stock of $(275) million in 2011, as well as the deconsolidation of Regency of $(979) million in 2010 and Penske Truck Leasing Co., L.P. (PTL) of $(331) million in 2009.
• Changes to the individual components of AOCI attributable to noncontrolling interests were insignificant.