GE 2011 Annual Report Download - page 96

94 GE 2011 ANNUAL REPORT
    
ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES
The following tables provide a roll-forward of our allowance for losses on fi nancing receivables.
(In millions)
Balance at
January 1,
2011
Provision
charged to
operations (a) Other (b) Gross
write-offs (c) Recoveries (c)
Balance at
December 31,
2011
COMMERCIAL
CLL
Americas $1,288 $ 281 $ (96) $ (700) $ 116 $ 889
Europe 429 195 (5) (286) 67 400
Asia 222 105 13 (214) 31 157
Other 6 3 (3) (2) — 4
Total CLL 1,945 584 (91) (1,202) 214 1,450
Energy Financial Services 22 — (1) (4) 9 26
GECAS 20 — — (3) — 17
Other 58 23 — (47) 3 37
Total Commercial 2,045 607 (92) (1,256) 226 1,530
REAL ESTATE
Debt 1,292 242 2 (603) 16 949
Business Properties 196 82 — (144) 6 140
Total Real Estate 1,488 324 2 (747) 22 1,089
CONSUMER
Non-U.S. residential mortgages 803 249 (20) (381) 55 706
Non-U.S. installment and revolving credit 937 490 (30) (1,257) 577 717
U.S. installment and revolving credit 2,333 2,241 1 (3,095) 528 2,008
Non-U.S. auto 168 30 (4) (216) 123 101
Other 259 142 (20) (272) 90 199
Total Consumer 4,500 3,152 (73) (5,221) 1,373 3,731
Total $8,033 $4,083 $(163) $(7,224) $1,621 $6,350
(a) Included a provision of $77 million at Consumer related to the July 1, 2011 adoption of ASU 2011-02. See Note 23.
(b) Other primarily included transfers to held for sale and the effects of currency exchange.
(c) Net write-offs (write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as our revolving credit portfolios turn over more than once
per year or, in all portfolios, can reflect losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current
year, which may identify further deterioration on existing financing receivables.
(In millions)
Balance at
December 31,
2009
Adoption of
ASU 2009 16
& 17 (a)
Balance at
January 1,
2010
Provision
charged to
operations Other (b) Gross
write-offs (c) Recoveries (c)
Balance at
December 31,
2010
COMMERCIAL
CLL
Americas $1,180 $ 66 $1,246 $1,059 $ (11) $ (1,136) $ 130 $1,288
Europe 575 — 575 269 (37) (440) 62 429
Asia 244 (10) 234 153 (6) (181) 22 222
Other 10 — 10 (2) (1) (1) — 6
Total CLL 2,009 56 2,065 1,479 (55) (1,758) 214 1,945
Energy Financial Services 28 — 28 65 — (72) 1 22
GECAS 104 — 104 12 — (96) — 20
Other 34 — 34 33 — (9) — 58
Total Commercial 2,175 56 2,231 1,589 (55) (1,935) 215 2,045
REAL ESTATE
Debt 1,358 (3) 1,355 764 10 (838) 1 1,292
Business Properties 136 45 181 146 (8) (126) 3 196
Total Real Estate 1,494 42 1,536 910 2 (964) 4 1,488
CONSUMER
Non-U.S. residential mortgages 892 — 892 256 (41) (381) 77 803
Non-U.S. installment and
revolving credit 1,106 — 1,106 1,047 (68) (1,733) 585 937
U.S. installment and revolving credit 1,551 1,602 3,153 3,018 (6) (4,300) 468 2,333
Non-U.S. auto 292 — 292 91 (61) (313) 159 168
Other 292 — 292 265 5 (394) 91 259
Total Consumer 4,133 1,602 5,735 4,677 (171) (7,121) 1,380 4,500
Total $7,802 $1,700 $9,502 $7,176 $(224) $(10,020) $1,599 $8,033
(a) Reflects the effects of our adoption of ASU 2009-16 & 17 on January 1, 2010.
(b) Other primarily included the effects of currency exchange.
(c) Net write-offs (write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as our revolving credit portfolios turn over more than once
per year or, in all portfolios, can reflect losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the current
year, which may identify further deterioration on existing financing receivables.