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72 GE 2012 ANNUAL REPORT
audited financial statements
Statement of Financial Position
General Electric Company and
consolidated affiliates
At December 31 (In millions, except share amounts) 2012 2011
ASSETS
Cash and equivalents $ 77,356 $ 84,501
Investment securities (Note 3) 48,510 47,374
Current receivables (Note 4) 21,500 20,478
Inventories (Note 5) 15,374 13,792
Financing receivables—net (Notes 6 and 23) 258,028 279,918
Other GECC receivables 7,961 7,561
Property, plant and equipment—net (Note 7) 69,743 65,739
Investment in GECC — —
Goodwill (Note 8) 73,447 72,625
Other intangible assets—net (Note 8) 11,987 12,068
All other assets (Note 9) 100,076 111,701
Assets of businesses held for sale (Note 2) 211 711
Assets of discontinued operations (Note 2) 1,135 1,721
Total assets (a) $685,328 $718,189
LIABILITIES AND EQUITY
Short-term borrowings (Note 10) $101,392 $137,611
Accounts payable, principally trade accounts 15,675 16,400
Progress collections and price adjustments accrued 10,877 11,349
Dividends payable 1,980 1,797
Other GE current liabilities 14,895 14,796
Non-recourse borrowings of consolidated securitization entities (Note 10) 30,123 29,258
Bank deposits (Note 10) 46,461 43,115
Long-term borrowings (Note 10) 236,084 243,459
Investment contracts, insurance liabilities and insurance annuity benefits (Note 11) 28,268 29,774
All other liabilities (Note 13) 68,676 70,653
Deferred income taxes (Note 14) (75) (131)
Liabilities of businesses held for sale (Note 2) 157 345
Liabilities of discontinued operations (Note 2) 2,345 1,629
Total liabilities (a) 556,858 600,055
GECC preferred stock (40,000 and 0 shares outstanding at year-end 2012 and 2011, respectively) — —
Common stock (10,405,625,000 and 10,573,017,000 shares outstanding at year-end 2012 and 2011, respectively) 702 702
Accumulated other comprehensive income attributable to GE (b)
Investment securities 677 (30)
Currency translation adjustments 412 133
Cash flow hedges (722) (1,176)
Benefit plans (20,597) (22,901)
Other capital 33,070 33,693
Retained earnings 144,055 137,786
Less common stock held in treasury (34,571) (31,769)
Total GE shareowners’ equity 123,026 116,438
Noncontrolling interests (c) 5,444 1,696
Total equity (Notes 15 and 16) 128,470 118,134
Total liabilities and equity $685,328 $718,189
(a) Our consolidated assets at December 31, 2012 include total assets of $46,064 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities
of those VIEs. These assets include net financing receivables of $40,287 million and investment securities of $3,419 million. Our consolidated liabilities at December 31, 2012
include liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities include non-recourse borrowings of consolidated securitization
entities (CSEs) of $29,123 million. See Note 24.
(b) The sum of accumulated other comprehensive income attributable to GE was $(20,230) million and $(23,974) million at December 31, 2012 and 2011, respectively.
(c) Included accumulated other comprehensive income attributable to noncontrolling interests of $(155) million and $(168) million at December 31, 2012 and 2011, respectively.
See accompanying notes.