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GE 2010 ANNUAL REPORT 123
    
The table below summarizes the assets and liabilities of consolidated VIEs described above.
Consolidated
Liquidating
Securitization Securitization
(In millions) Trinity (a) Entities (a) QSPEs (b) (c) Other (c) Total
DECEMBER 31, 2010
ASSETS
Financing receivables, net $ — $ — $33,997 $ 5,475 $39,472
Investment securities 5,706 — — 964 6,670
Other assets (d) 283 — 520 3,711 4,514
Total $5,989 $ — $34,517 $10,150 $50,656
LIABILITIES
Borrowings (d) $ — $ — $ 210 $ 948 $ 1,158
Non-recourse borrowings of consolidated securitization entities — — 26,554 2,890 29,444
Other liabilities (d) 5,690 — 123 1,882 7,695
Total $5,690 $ — $26,887 $ 5,720 $38,297
DECEMBER 31, 2009
ASSETS
Financing receivables, net $ — $2,576 $ — $ 4,277 $ 6,853
Investment securities 6,629 — — 944 7,573
Other assets (d) 716 32 — 1,820 2,568
Total $7,345 $2,608 $ — $ 7,041 $16,994
LIABILITIES
Borrowings (d) $ — $ — $ — $ 1,835 $ 1,835
Non-recourse borrowings of consolidated securitization entities — 2,424 — 684 3,108
Other liabilities (d) 8,519 80 — 1,689 10,288
Total $8,519 $2,504 $ — $ 4,208 $15,231
(a) Entities consolidated on July 1, 2003 or January 1, 2004 as a result of amendments to U.S. GAAP. During 2010, the capital structure of the consolidated liquidating securitization
entities changed and they are now consolidated under the voting interest model.
(b) Entities consolidated on January 1, 2010 by the initial application of ASU 2009-16 & 17.
(c) In certain transactions entered into prior to December 31, 2004, we provided contractual credit and liquidity support to third parties who funded the purchase of securitized or
participated interests in assets. We have not entered into additional arrangements since that date. Liquidity and credit support was $936 million at December 31, 2010 and
$2,088 million at December 31, 2009.
(d) Other assets, borrowings and other liabilities exclude intercompany balances that are eliminated in consolidation.
GECS revenues from services from our consolidated VIEs were $6,914 million in 2010. Related expenses consisted primarily of provisions
for losses of $1,596 million and interest and other financial charges of $767 million in 2010. These amounts do not include intercompany
revenues and costs, principally fees and interest between GE and the VIEs, which are eliminated in consolidation.
The gross financing receivables and outstanding debt, which is substantially all non-recourse, in Securitization QSPEs at December 31,
2010 and December 31, 2009 is provided below.
Credit card
(In millions) receivables Real estate Equipment (a) Other (b) Total
DECEMBER 31, 2010
Asset amount outstanding $21,636 $4,433 $ 7,645 $1,981 $35,695
Outstanding debt 12,824 4,301 6,669 2,970 26,764
DECEMBER 31, 2009
Asset amount outstanding $25,573 $7,381 $10,414 $3,528 $46,896
Outstanding debt 18,799 7,367 9,312 4,206 39,684
(a) Included floorplan receivables.
(b) 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 exceed the outstanding debt shown.