0000040554-12-000080.txt : 20120720 0000040554-12-000080.hdr.sgml : 20120720 20120720095111 ACCESSION NUMBER: 0000040554-12-000080 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120720 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120720 DATE AS OF CHANGE: 20120720 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: 12971162 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 gecc8k07202012.htm GECC 8-K 07_20_2012 gecc8k07202012.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 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 July 20, 2012, our parent, General Electric Company (GE), issued a press release setting forth GE’s second-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 and six months ended June 30, 2012 and financial position at June 30, 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: July 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 June 30,
    
Six months ended June 30,
  
(In millions, Unaudited)
  
2012 
    
2011 
  
V
%
    
2012 
    
2011 
  
V
%
                                   
Revenues
                                  
Revenues from services
$
11,432 
  
$
12,398 
        
$
22,844 
  
$
25,392 
      
Sales of goods
  
26 
    
42 
          
56 
    
84 
      
   Total revenues
  
11,458 
    
12,440 
  
(8)
%
    
22,900 
    
25,476 
  
(10)
%
                                   
Costs and expenses
                                  
Costs of sales, operating and administrative expenses
  
4,787 
    
5,279 
          
9,408 
    
10,572 
      
Interest
  
2,988 
    
3,598 
          
6,184 
    
7,182 
      
Investment contracts, insurance losses and insurance
                                  
   annuity benefits
  
702 
    
790 
          
1,473 
    
1,559 
      
Provision for losses on financing receivables
  
743 
    
792 
          
1,606 
    
1,932 
      
   Total costs and expenses
  
9,220 
    
10,459 
  
(12)
%
    
18,671 
    
21,245 
  
(12)
%
                                   
Earnings from continuing operations before
                                  
   income taxes
  
2,238 
    
1,981 
  
13 
%
    
4,229 
    
4,231 
  
— 
%
Benefit (provision) for income taxes
  
(102)
    
(346)
          
(289)
    
(775)
      
Earnings from continuing operations
  
2,136 
    
1,635 
  
31 
%
    
3,940 
    
3,456 
  
14 
%
                                   
Earnings (loss) from discontinued operations,
                                  
   net of taxes
  
(553)
    
195 
          
(770)
    
230 
      
                                   
Net earnings
  
1,583 
    
1,830 
  
(13)
%
    
3,170 
    
3,686 
  
(14)
%
                                   
Less net earnings attributable to
                                  
    noncontrolling interests
  
14 
    
20 
          
26 
    
51 
      
Net earnings attributable to GECC
$
1,569 
  
$
1,810 
  
(13)
%
  
$
3,144 
  
$
3,635 
  
(14)
%
                                   
                                   
Amounts attributable to GECC:
                                  
Earnings from continuing operations
$
2,122 
  
$
1,615 
  
31 
%
  
$
3,914 
  
$
3,405 
  
15 
%
Earnings (loss) from discontinued operations, net of taxes
  
(553)
    
195 
          
(770)
    
230 
      
Net earnings attributable to GECC
$
1,569 
  
$
1,810 
  
(13)
%
  
$
3,144 
  
$
3,635 
  
(14)
%

 
(1)
 


General Electric Capital Corporation
Summary of Operating Segments
 


 
Three months ended June 30,
    
Six months ended June 30,
  
(In millions, Unaudited)
  
2012 
    
2011 
  
V
%
    
2012 
    
2011 
  
V
%
                                   
Revenues
                                  
   Commercial Lending and Leasing (CLL)
$
4,141 
  
$
4,666 
  
 (11)%
    
$
8,583 
  
$
9,274 
  
(7)
%
   Consumer
  
3,812 
    
4,172 
  
 (9)%
      
7,689 
    
8,995 
  
(15)
%
   Real Estate
  
876 
    
992 
  
 (12)%
      
1,712 
    
1,899 
  
(10)
%
   Energy Financial Services
  
446 
    
365 
  
22%
      
685 
    
710 
  
(4)
%
   GE Capital Aviation Services (GECAS)
  
1,317 
    
1,327 
  
 (1)%
      
2,648 
    
2,652 
  
— 
%
      Total segment revenues
  
10,592 
    
11,522 
  
 (8)%
      
21,317 
    
23,530 
  
(9)
%
   GECC corporate items and eliminations
  
866 
    
918 
  
 (6)%
      
1,583 
    
1,946 
  
(19)
%
Total revenues
$
11,458 
  
$
12,440 
  
 (8)%
    
$
22,900 
  
$
25,476 
  
(10)
%
                                   
Segment profit
                                  
   CLL
$
626 
  
$
701 
  
 (11)%
    
$
1,311 
  
$
1,255 
  
4 
%
   Consumer
  
907 
    
1,042 
  
 (13)%
      
1,736 
    
2,283 
  
(24)
%
   Real Estate
  
221 
    
(335)
  
F
      
277 
    
(693)
  
F
  
   Energy Financial Services
  
122 
    
139 
  
 (12)%
      
193 
    
251 
  
(23)
%
   GECAS
  
308 
    
321 
  
 (4)%
      
626 
    
627 
  
— 
%
      Total segment profit
  
2,184 
    
1,868 
  
17%
      
4,143 
    
3,723 
  
11 
%
   GECC corporate items and eliminations
  
(62)
    
(253)
  
75%
      
(229)
    
(318)
  
28 
%
Earnings from continuing operations
                                  
   attributable to GECC
  
2,122 
    
1,615 
  
31%
      
3,914 
    
3,405 
  
15 
%
Earnings (loss) from discontinued operations,
                                  
   net of taxes, attributable to GECC
  
(553)
    
195 
  
U
      
(770)
    
230 
  
U
  
Net earnings attributable to GECC
$
1,569 
  
$
1,810 
  
 (13)%
    
$
3,144 
  
$
3,635 
  
(14)
%
                                   

 
(2)
 


General Electric Capital Corporation
Condensed Statement of Financial Position
 


 
June 30,
  
December 31,
(In billions, Unaudited)
2012 
  
2011 
         
Assets
          
   Cash & marketable securities
$
114.2 
  
$
124.1 
   Inventories
  
0.1 
    
0.1 
   Financing receivables - net
  
274.0 
    
288.8 
   Property, plant & equipment - net
  
52.0 
    
51.4 
   Goodwill & intangible assets
  
28.5 
    
28.8 
   Other assets
  
85.5 
    
88.9 
   Assets of businesses held for sale
  
3.0 
    
0.7 
   Assets of discontinued operations
  
1.5 
    
1.7 
           
Total assets
$
558.8 
  
$
584.5 
           
           
Liabilities and equity
          
   Borrowings and bank deposits
$
418.0 
  
$
443.1 
   Investment contracts, insurance liabilities and insurance annuity benefits
  
28.3 
    
30.2 
   Other liabilities
  
29.8 
    
31.6 
   Liabilities of businesses held for sale
  
0.3 
    
0.3 
   Liabilities of discontinued operations
  
1.8 
    
1.5 
   GECC shareowners' equity
  
79.8 
    
77.1 
   Noncontrolling interests
  
0.8 
    
0.7 
           
Total liabilities and equity
$
558.8 
  
$
584.5 
           


 
(3)