-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OPplpF0JCBJ6ZPs/BsoTj31nhcTk5j+1//6Gl9XWBSQRtLVWS0jCKXnCTjGYxJl3 BnczCLScPZNG0HXP+xysqw== 0000797463-10-000022.txt : 20100716 0000797463-10-000022.hdr.sgml : 20100716 20100716162746 ACCESSION NUMBER: 0000797463-10-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100716 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100716 DATE AS OF CHANGE: 20100716 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: 10956687 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 gecc8k07162010.htm GECC 8-K 07-16-2010 gecc8k07162010.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 16, 2010
 
 
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 July 16, 2010, our ultimate parent, General Electric Company, issued a press release setting forth GE’s second-quarter 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, 2010 and financial position at June 30, 2010 of General Electric Capital Corporation.

Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits
 
The following exhibit is being filed 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 16, 2010
  
/s/ Jamie S. Miller
  
   
Jamie S. Miller
  
   
Senior Vice President and Controller
  

 
 
(3)
 

EX-99 2 geccex9907162010.htm GECC EXHIBIT 99 07-16-2010 geccex9907162010.htm
Exhibit 99
 
General Electric Capital Corporation
 
Condensed Statement of Earnings
 


 
Three months ended June 30
    
Six months ended June 30
  
(In millions, Unaudited)
  
2010
    
2009
  
V
%
    
2010
    
2009
  
V
%
                                   
Revenues
                                  
Revenues from services
$
12,129 
  
$
12,531 
        
$
 24,179 
  
$
26,033 
      
Sales of goods
  
168 
    
205 
          
 449 
    
478 
      
   Total revenues
  
12,297 
    
12,736 
  
 (3)%
      
 24,628 
    
26,511 
  
 (7)%
  
                                   
Costs and expenses
                                  
Costs of sales, operating and administrative expenses
  
5,646 
    
5,605 
          
 11,512 
    
11,911 
      
Interest
  
3,863 
    
4,475 
          
 7,792 
    
9,588 
      
Investment contracts, insurance losses and insurance
                                  
   annuity benefits
  
38 
    
45 
          
 73 
    
118 
      
Provision for losses on financing receivables
  
2,009 
    
2,817 
          
 4,272 
    
5,153 
      
   Total costs and expenses
  
11,556 
    
12,942 
  
 (11)%
      
 23,649 
    
26,770 
  
 (12)%
  
                                   
Earnings (loss) from continuing operations before
                                  
   income taxes
  
741 
    
(206)
  
F
      
 979 
    
(259)
  
F
  
Benefit for income taxes
  
76 
    
654 
          
 448 
    
1,782 
      
Earnings from continuing operations
  
817 
    
448 
  
82%
      
 1,427 
    
1,523 
  
 (6)%
  
                                   
Loss from discontinued operations, net of taxes
  
(187)
    
(194)
          
 (574)
    
(197)
      
                                   
Net earnings
  
630 
    
254 
  
F
      
 853 
    
1,326 
  
 (36)%
  
                                   
Less net earnings (loss) attributable to noncontrolling –
                                  
   interests
  
(13)
    
17 
          
 (10)
    
63 
      
Net earnings attributable to GECC
$
643 
  
$
237 
  
F
    
$
 863 
  
$
1,263 
  
 (32)%
  
                                   
                                   
Amounts attributable to GECC:
                                  
Earnings from continuing operations
$
830 
  
$
431 
  
93%
    
$
 1,437 
  
$
1,460 
  
 (2)%
  
Loss from discontinued operations, net of taxes
  
(187)
    
(194)
          
 (574)
    
(197)
      
Net earnings attributable to GECC
$
643 
  
$
237 
  
F
    
$
 863 
  
$
1,263 
  
 (32)%
  

 
 
(1)
 


General Electric Capital Corporation
 
Summary of Operating Segments (unaudited)
 


 
Three months ended June 30
    
Six months ended June 30
  
(Dollars in millions)
  
2010
    
2009
  
V
%
    
2010
    
2009
  
V
%
                                   
Revenues
                                  
   Commercial Lending and Leasing (CLL)(a)
$
4,506 
  
$
5,306 
  
(15)
    
$
 9,100 
  
$
10,986 
  
(17)
  
   Consumer(a)
  
4,832 
    
4,851 
  
(0)
      
 9,796 
    
9,563 
  
2 
  
   Real Estate
  
991 
    
1,014 
  
(2)
      
 1,935 
    
1,989 
  
(3)
  
   Energy Financial Services
  
595 
    
490 
  
21 
      
 1,386 
    
1,134 
  
22 
  
   GE Capital Aviation Services (GECAS)(a)
  
1,259 
    
1,163 
  
8 
      
 2,498 
    
2,266 
  
10 
  
      Total segment revenues
  
12,183 
    
12,824 
  
(5)
      
 24,715 
    
25,938 
  
(5)
  
      GECC corporate items and eliminations
  
 114 
    
 (88)
  
F
      
 (87)
    
 573 
  
U
  
Total Revenues
$
12,297 
  
$
12,736 
  
(3)
    
$
 24,628 
  
$
26,511 
  
(7)
  
                                   
Segment profit
                                  
   CLL(a)
$
312 
  
$
243 
  
28 
    
$
 544 
  
$
481 
  
13 
  
   Consumer(a)
  
735 
    
252 
  
F
      
 1,328 
    
989 
  
34 
  
   Real Estate
  
(524)
    
(237)
  
U
      
 (927)
    
(410)
  
U
  
   Energy Financial Services
  
126 
    
65 
  
94 
      
 279 
    
140 
  
99 
  
   GECAS(a)
  
288 
    
285 
  
1 
      
 605 
    
546 
  
11 
  
      Total segment profit
  
937 
    
608 
  
54 
      
 1,829 
    
1,746 
  
5 
  
      GECC corporate items and eliminations
  
(107)
    
(177)
  
40 
      
 (392)
    
(286)
  
(37)
  
Earnings from continuing operations
                                  
   attributable to GECC
  
830 
    
431 
  
93 
      
 1,437 
    
1,460 
  
(2)
  
Loss from discontinued operations, net of taxes,
                                  
   attributable to GECC
  
(187)
    
(194)
  
4 
      
 (574)
    
(197)
  
U
  
Net earnings attributable to GECC
$
643 
  
$
237 
  
F
    
$
 863 
  
$
1,263 
  
(32)
  
                                   
                                   
(a)
Effective January 1, 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to the current-period’s presentation.
 

 
 
(2)
 


General Electric Capital Corporation.
 
Condensed Statement of Financial Position
 


 
June 30,
  
December 31,
(Dollars in billions)
2010
  
2009
 
(Unaudited)
      
Assets
          
   Cash & marketable securities
$
 77.0 
  
$
 91.2 
   Inventories
  
 0.1 
    
 0.1 
   Financing receivables - net
  
 333.3 
    
 336.9 
   Property, plant & equipment - net
  
 53.7 
    
 56.7 
   Goodwill & intangible assets
  
 29.5 
    
 32.0 
   Other assets
  
 93.8 
    
 104.2 
   Assets of businesses held for sale
  
 0.6 
    
 0.1 
   Assets of discontinued operations
  
 1.2 
    
 1.5 
           
Total assets
$
 589.2 
  
$
 622.7 
           
           
Liabilities and equity
          
   Borrowings and bank deposits
$
 476.6 
  
$
 497.5 
   Investment contracts, insurance liabilities and insurance annuity benefits
  
 7.4 
    
 8.7 
   Other liabilities
  
 33.0 
    
 39.6 
   Liabilities of businesses held for sale
  
 0.3 
    
 0.1 
   Liabilities of discontinued operations
  
 1.0 
    
 0.9 
   GECC shareowner's equity
  
 69.8 
    
 73.7 
   Noncontrolling interests
  
 1.1 
    
 2.2 
           
Total liabilities and equity
$
 589.2 
  
$
 622.7 


 
 
(3)
 

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