0000040554-12-000047.txt : 20120420 0000040554-12-000047.hdr.sgml : 20120420 20120420110041 ACCESSION NUMBER: 0000040554-12-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120420 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120420 DATE AS OF CHANGE: 20120420 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: 12769934 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 gecc8k04202012.htm GECC FORM 8-K 04202012 gecc8k04202012.htm

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


Date of Report (Date of earliest event reported) April 20, 2012
 
 
General Electric Capital Corporation
  
 
(Exact name of registrant as specified in its charter)
  
 
Delaware
  
01-06461
  
13-1500700
(State or other jurisdiction
of incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
         
901 Main Avenue, Norwalk, Connecticut
      
06851-1168
(Address of principal executive offices)
      
(Zip Code)
         
Registrant’s telephone number, including area code   (203) 840-6300
 
 
Not applicable
  
(Former name or former address, if changed since last report.)

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


 

 
(1)
 

Item 8.01 Other Events.
 
On April 20, 2012, our parent, General Electric Company (GE), issued a press release setting forth GE’s first-quarter 2012 earnings. Attached hereto as Exhibit 99 and hereby incorporated by reference is a schedule of selected financial information related to the results of operation for the three months ended March 31, 2012 and financial position at March 31, 2012 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: April 20, 2012
  
/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 March 31
  
(In millions, Unaudited)
        
 
  
 
      
2012 
    
2011 
  
V
%
                                   
Revenues
                                  
Revenues from services
 
    
 
          
$
11,412 
  
$
12,994 
      
Sales of goods
  
 
    
 
          
30 
    
42 
      
   Total revenues
                    
11,442 
    
13,036 
  
(12)
%
                                   
Costs and expenses
                                  
Costs of sales, operating and administrative expenses
                    
4,621 
    
5,293 
      
Interest
                    
3,196 
    
3,584 
      
Investment contracts, insurance losses and insurance
                                  
   annuity benefits
        
 
          
771 
    
769 
      
Provision for losses on financing receivables
  
 
                
863 
    
1,140 
      
   Total costs and expenses
                    
9,451 
    
10,786 
  
(12)
%
                                   
Earnings from continuing operations before
                                  
   income taxes
                    
1,991 
    
2,250 
  
(12)
%
Benefit (provision) for income taxes
                    
(187)
    
(429)
      
Earnings from continuing operations
                    
1,804 
    
1,821 
  
(1)
%
                                   
Earnings (loss) from discontinued operations,
                                  
   net of taxes
                    
(217)
    
35 
      
                                   
Net earnings
                    
1,587 
    
1,856 
  
(14)
%
                                   
Less net earnings attributable to
                                  
    noncontrolling interests
  
 
                
12 
    
31 
      
Net earnings attributable to GECC
 
    
 
          
$
1,575 
  
$
1,825 
  
(14)
%
                                   
                                   
Amounts attributable to GECC:
                                  
Earnings from continuing operations
 
    
 
          
$
1,792 
  
$
1,790 
  
— 
%
Earnings (loss) from discontinued operations, net of taxes
                    
(217)
    
35 
      
Net earnings attributable to GECC
 
    
 
          
$
1,575 
  
$
1,825 
  
(14)
%

 
(1)
 


General Electric Capital Corporation
Summary of Operating Segments
 


       
Three months ended March 31
  
(In millions, Unaudited)
              
 
    
2012 
    
2011 
  
V
%
                                   
Revenues
                                  
   Commercial Lending and Leasing (CLL)
 
    
 
          
$
 4,442 
  
$
 4,608 
  
(4)
%
   Consumer
                    
 3,877 
    
 4,823 
  
(20)
%
   Real Estate
                    
 836 
    
 907 
  
(8)
%
   Energy Financial Services
  
 
                
 239 
    
 345 
  
(31)
%
   GE Capital Aviation Services (GECAS)
                    
 1,331 
    
 1,325 
  
— 
%
      Total segment revenues
                    
 10,725 
    
 12,008 
  
(11)
%
   GECC corporate items and eliminations
  
 
                
 717 
    
 1,028 
  
(30)
%
Total revenues
 
    
 
          
$
 11,442 
  
$
 13,036 
  
(12)
%
                                   
Segment profit
                                  
   CLL
 
    
 
          
$
 685 
  
$
 554 
  
24 
%
   Consumer
                    
 829 
    
 1,241 
  
(33)
%
   Real Estate
  
 
                
 56 
    
 (358)
  
F
  
   Energy Financial Services
  
 
                
 71 
    
 112 
  
(37)
%
   GECAS
  
 
                
 318 
    
 306 
  
4 
%
      Total segment profit
                    
 1,959 
    
 1,855 
  
6 
%
   GECC corporate items and eliminations
                    
 (167)
    
 (65)
  
U
  
Earnings from continuing operations
                                  
   attributable to GECC
                    
 1,792 
    
 1,790 
  
— 
%
Earnings (loss) from discontinued operations,
                                  
   net of taxes, attributable to GECC
                    
 (217)
    
 35 
  
U
  
Net earnings attributable to GECC
 
    
 
          
$
 1,575 
  
$
 1,825 
  
(14)
%
                                   

 
(2)
 


General Electric Capital Corporation
Condensed Statement of Financial Position
 


 
March 31,
  
December 31,
(In billions, Unaudited)
2012 
  
2011 
         
Assets
          
   Cash & marketable securities
$
 124.0 
  
$
 124.1 
   Inventories
  
 –
    
 0.1 
   Financing receivables - net
  
 281.4 
    
 288.8 
   Property, plant & equipment - net
  
 51.5 
    
 51.4 
   Goodwill & intangible assets
  
 28.8 
    
 28.8 
   Other assets
  
 85.8 
    
 88.9 
   Assets of businesses held for sale
  
 0.6 
    
 0.7 
   Assets of discontinued operations
  
 1.3 
    
 1.7 
           
Total assets
$
 573.4 
  
$
 584.5 
           
           
Liabilities and equity
          
   Borrowings and bank deposits
$
 431.9 
  
$
 443.1 
   Investment contracts, insurance liabilities and insurance annuity benefits
  
 30.2 
    
 30.2 
   Other liabilities
  
 29.8 
    
 31.6 
   Liabilities of businesses held for sale
  
 0.3 
    
 0.3 
   Liabilities of discontinued operations
  
 1.2 
    
 1.5 
   GECC shareowner's equity
  
 79.2 
    
 77.1 
   Noncontrolling interests
  
 0.8 
    
 0.7 
           
Total liabilities and equity
$
 573.4 
  
$
 584.5 
           


 
(3)