GE 2007 Annual Report Download - page 89

Download and view the complete annual report

Please find page 89 of the 2007 GE annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

    
ge 2007 annual report 87
Note 13
GECS Allowance for Losses on Financing Receivables
(In millions) 2007 2006 2005
BALANCE AT JANUARY 1
Commercial Finance $ 896 $ 1,117 $ 1,587
GE Money
U.S. 909 735 833
Non-U.S. 2,146 1,912 2,017
Infrastructure 44 220 583
Other 24 22 5
4,019 4,006 5,025
PROVISION CHARGED TO OPERATIONS
Commercial Finance 525 119 276
GE Money
U.S. 2,032 1,226 1,183
Non-U.S. 1,974 1,832 1,552
Infrastructure 6 (64) 210
Other 9 17 18
4,546 3,130 3,239
SECURITIZATION (800) (195) (277)
OTHER 360 200 (147)
GROSS WRITE-OFFS
Commercial Finance (677) (563) (901)
GE Money
U.S. (1,584) (1,111) (1,264)
Non-U.S. (3,334) (2,990) (2,532)
Infrastructure (23) (112) (572)
Other (17) (29) (39)
(5,635) (4,805) (5,308)
RECOVERIES
Commercial Finance 149 194 187
GE Money
U.S. 369 275 258
Non-U.S. 1,319 1,212 1,025
Infrastructure — — —
Other 2 2 4
1,839 1,683 1,474
BALANCE AT DECEMBER 31
Commercial Finance 1,105 896 1,117
GE Money
U.S. 1,024 909 735
Non-U.S. 2,155 2,146 1,912
Infrastructure 27 44 220
Other 18 24 22
Total
$ 4,329 $ 4,019 $ 4,006
See note 12 for amounts related to consolidated, liquidating
securitization entities.
SELECTED FINANCING RECEIVABLES RATIOS
December 31 2007 2006
ALLOWANCE FOR LOSSES ON FINANCING
RECEIVABLES AS A PERCENTAGE OF TOTAL
FINANCING RECEIVABLES
Commercial Finance 0.59% 0.58%
GE Money 1.82 2.03
U.S. 3.43 3.09
Non-U.S. 1.49 1.77
Infrastructure 0.12 0.21
Other 0.35 0.35
Total 1.11 1.21
NONEARNING FINANCING RECEIVABLES
AS A PERCENTAGE OF TOTAL
FINANCING RECEIVABLES
Commercial Finance 0.9% 1.0%
GE Money 2.1 2.1
U.S. 1.8 1.7
Non-U.S. 2.2 2.2
Infrastructure — —
Other 1.4 1.2
Total 1.4 1.5