GE 2010 Annual Report Download - page 92
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90 GE 2010 ANNUAL REPORT
Consolidated depreciation and amortization related to property,
plant and equipment was $10,013 million, $10,619 million and
$11,481 million in 2010, 2009 and 2008, respectively.
Amortization of GECS equipment leased to others was
$6,786 million, $7,179 million and $8,173 million in 2010, 2009 and
2008, respectively. Noncancellable future rentals due from cus-
tomers for equipment on operating leases at December 31, 2010,
are as follows:
(In millions)
Due in
2011 $ 7,242
2012 5,846
2013 4,686
2014 3,840
2015 2,964
2016 and later 9,170
Total $33,748
Note 8.
Goodwill and Other Intangible Assets
December 31 (In millions) 2010 2009
GOODWILL
GE $36,880 $36,613
GECS 27,593 28,463
Total $64,473 $65,076
December 31 (In millions) 2010 2009
OTHER INTANGIBLE ASSETS
GE
Intangible assets subject to amortization $ 7,984 $ 8,345
Indefinite-lived intangible assets 104 105
8,088 8,450
GECS
Intangible assets subject to amortization 1,885 3,301
Total $ 9,973 $11,751
Note 7.
Property, Plant and Equipment
Depreciable
lives—new
December 31 (Dollars in millions) (in years) 2010 2009
ORIGINAL COST
GE
Land and improvements 8
(a) $ 573 $ 562
Buildings, structures
and related equipment 8–40 7,468 7,569
Machinery and equipment 4–20 20,833 20,714
Leasehold costs and
manufacturing plant
under construction 1–10 1,986 1,431
30,860 30,276
GECS
(b)
Land and improvements,
buildings, structures and
related equipment 1–37 (a) 3,523 5,713
Equipment leased to others
Aircraft 19–21 45,674 42,634
Vehicles 1–23 17,216 21,589
Railroad rolling stock 5–50 4,331 4,290
Marine shipping containers 3–30 2,748 2,727
Construction and manufacturing 1–30 2,586 2,759
All other 4–25 3,107 2,921
79,185 82,633
Total $110,045 $112,909
NET CARRYING VALUE
GE
Land and improvements $ 550 $ 527
Buildings, structures and
related equipment 3,617 3,812
Machinery and equipment 6,551 6,932
Leasehold costs and manufacturing
plant under construction 1,726 1,224
12,444 12,495
GECS
(b)
Land and improvements, buildings,
structures and related equipment 1,667 3,543
Equipment leased to others
Aircraft
(c) 34,665 32,983
Vehicles 9,077 11,519
Railroad rolling stock 2,960 2,887
Marine shipping containers 1,924 1,894
Construction and manufacturing 1,454 1,697
All other 2,023 1,952
53,770 56,475
Total $ 66,214 $ 68,970
(a) Depreciable lives exclude land.
(b) Included $1,571 million and $1,609 million of original cost of assets leased to GE
with accumulated amortization of $531 million and $572 million at December 31,
2010 and 2009, respectively.
(c) The GECAS business of GE Capital recognized impairment losses of $438 million in
2010 and $127 million in 2009 recorded in the caption “Other costs and expenses”
in the Statement of Earnings to reflect adjustments to fair value based on an
evaluation of average current market values (obtained from third parties) of similar
type and age aircraft, which are adjusted for the attributes of the specific aircraft
under lease.