GE 2014 Annual Report Download - page 153

GE 2014 FORM 10-K 133
FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL POSITION (CONTINUED)
GE(a) Financial Services (GECC)
A
t December 31
(
In millions
,
exce
p
t share amounts
)
2014 2013 2014 2013
Assets
Cash and equivalents $ 15,916 $ 13,682 $ 74,292 $ 74,873
Investment securities (Note 3) 84 323 47,827 43,662
Current receivables (Note 4) 11,513 10,970 - -
Inventories (Note 5) 17,639 17,257 50 68
Financing receivables – net (Note 6 and 27) - - 237,018 253,029
Other GECC receivables - - 16,683 16,513
Property, plant and equipment – net (Note 7) 17,207 17,574 49,570 51,607
Investment in GECC 82,549 77,745 - -
Goodwill (Note 8) 51,527 51,453 25,026 26,195
Other intangible assets – net (Note 8) 12,984 13,180 1,176 1,136
A
ll other assets (Note 9) 24,680 23,708 43,875 47,366
Deferred income taxes 8,772 5,061 (6,231) (4,786)
A
ssets of businesses held for sale (Note 2) 2,805 - 3,474 50
A
ssets of discontinued operations (Note 2) 10 9 1,225 2,330
Total assets $ 245,686 $ 230,962 $ 493,985 $ 512,043
Liabilities and equity
Short-term borrowings (Note 10) $ 3,872 $ 1,841 $ 68,780 $ 77,298
A
ccounts payable, principally trade accounts 16,511 16,353 6,177 6,549
Progress collections and price adjustments accrued 12,550 13,152 - -
Dividends payable 2,317 2,220 - -
Other GE current liabilities 12,681 13,381 - -
Non-recourse borrowings of consolidated securitization entities (Note 10) - - 29,938 30,124
Bank deposits (Note 10) - - 62,839 53,361
Long-term borrowings (Note 10) 12,468 11,515 187,991 210,279
Investment contracts, insurance liabilities and insurance annuity benefits (Note 11) - - 28,027 26,979
A
ll other liabilities (Note 13) 54,662 40,955 16,313 20,531
Liabilities of businesses held for sale (Note 2) 1,504 - 2,434 6
Liabilities of discontinued operations (Note 2) 137 143 1,088 3,790
Total liabilities 116
,
702 99
,
560 403
,
587 428
,
917
GECC preferred stock (50,000 shares outstanding at year-end both 2014 and 2013) - - - -
Common stock (10,057,380,000 and 10,060,881,000
shares outstanding at year-end both 2014 and 2013, respectively) 702 702 - -
A
ccumulated other comprehensive income (loss) - net attributable to GE
Investment securities 1,013 307 1,010 309
Currency translation adjustments
(
2,427
)
126
(
838
)
(
687
)
Cash flow hedges
(
180
)
(
257
)
(
172
)
(
293
)
Benefit plans
(
16,578
)
(
9,296
)
(
577
)
(
363
)
Other capital 32,889 32,494 32,999 32,563
Retained earnings 155,333 149,051 55,077 51,165
Less common stock held in treasury
(
42,593
)
(
42,561
)
- -
Total GE shareowners’ e
q
uit
y
128
,
159 130
,
566 87
,
499 82
,
694
Noncontrolling interests 825 836 2,899 432
Total e
q
uit
y
(
Note 15 and 16
)
128
,
984 131
,
402 90
,
398 83
,
126
Total liabilities and e
q
uit
y
$ 245
,
686 $ 230
,
962 $ 493
,
985 $ 512
,
043
(a) Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line
basis. See Note 1.
In the consolidating data on this page, "GE" means the basis of consolidation as described in Note 1 to the consolidated financial statements; "GECC" means General Electric
Capital Corporation and all of its affiliates and associated companies. Separate information is shown for “GE” and “GECC.” Transactions between GE and GECC have been
eliminated from the “General Electric Company and consolidated affiliates” columns on the prior page.