Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2012

Variable Interest Entities [Abstract]

				Consolidated Securitization Entities

				Credit									Trade
(In millions)	Trinity		(a)	Cards		(b)	Equipment		(b)	Real Estate		(c)	Receivables		Other		(d)	Total

September 30, 2012
Assets(e)
Financing receivables, net	$	0		$	22,133		$	12,066		$	2,921		$	1,830	$	1,832		$	40,782
Investment securities		3,733			0			0			0			0		1,065			4,798
Other assets		80			28			332			134			0		3,479			4,053
Total	$	3,813		$	22,161		$	12,398		$	3,055		$	1,830	$	6,376		$	49,633

Liabilities(e)
Borrowings	$	0		$	0		$	4		$	25		$	0	$	1,263		$	1,292
Non-recourse borrowings		0			16,050			9,705			2,936			1,579		0			30,270
Other liabilities		1,705			116			1			3			17		1,460			3,302
Total	$	1,705		$	16,166		$	9,710		$	2,964		$	1,596	$	2,723		$	34,864

December 31, 2011
Assets(e)
Financing receivables, net	$	0		$	19,229		$	10,523		$	3,521		$	1,614	$	2,973		$	37,860
Investment securities		4,289			0			0			0			0		1,031			5,320
Other assets		389			17			283			210			0		2,250			3,149
Total	$	4,678		$	19,246		$	10,806		$	3,731		$	1,614	$	6,254		$	46,329

Liabilities(e)
Borrowings	$	0		$	0		$	2		$	25		$	0	$	821		$	848
Non-recourse borrowings		0			14,184			8,166			3,659			1,769		980			28,758
Other liabilities		4,456			37			0			19			23		1,312			5,847
Total	$	4,456		$	14,221		$	8,168		$	3,703		$	1,792	$	3,113		$	35,453

Excludes intercompany advances from GECC to Trinity, which are eliminated in consolidation of $2,616 million and $1,006 million at September 30, 2012 and December 31, 2011, respectively.
We provide servicing to the CSEs and are contractually permitted to commingle cash collected from customers on financing receivables sold to CSE investors with our own cash prior to payment to a CSE, provided our short-term credit rating does not fall below A-1/P-1. These CSEs also owe us amounts for purchased financial assets and scheduled interest and principal payments. At September 30, 2012, the amount of commingled cash owed to the CSEs and the amount owed to us by CSEs were $5,885 million and $5,751 million, respectively.
On October 1, 2012, we completed the sale of our Business Property business, which includes servicing rights for most of these CSEs. We will deconsolidate substantially all of these securitization entities in the fourth quarter of 2012 as we will no longer have the power to direct the activities of these entities.
Includes $1,519 million in other assets and $537 million of borrowings at September 30, 2012 due to the consolidation of an entity involved in power generating activities. This entity was previously subject to a leveraged lease and we consolidated this entity in March 2012 following the execution of an agreement that gave us the power to direct activities of this entity.
Asset amounts exclude intercompany receivables for cash collected on behalf of the entities by GE as servicer, which are eliminated in consolidation. Such receivables provide the cash to repay the entities' liabilities. If these intercompany receivables were included in the table above, assets would be higher. In addition, other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation.

Unconsolidated VIE

	September 30, 2012						December 31, 2011
(In millions)	PTL		All other		Total		PTL		All other		Total

Other assets and investment
securities	$	2,732	$	8,273	$	11,005	$	7,038	$	6,954	$	13,992
Financing receivables – net		0		3,171		3,171		0		2,507		2,507
Total investments		2,732		11,444		14,176		7,038		9,461		16,499
Contractual obligations to fund
investments or guarantees		159		2,314		2,473		600		2,253		2,853
Revolving lines of credit		0		68		68		1,356		92		1,448
Total	$	2,891	$	13,826	$	16,717	$	8,994	$	11,806	$	20,800

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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+ Details