GE 2015 Annual Report Download - page 183

Download and view the complete annual report

Please find page 183 of the 2015 GE annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 252

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252

FINANCIAL STATEMENTS INVESTMENT SECURITIES
GE 2015 FORM 10-K 155
PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES
(In millions) 2015 201
4
2013
Total pre-tax, OTTI recognized $ 64 $ 316 $ 201
Pre-tax, OTTI recognized in AOCI - (4) (31)
Pre-tax, OTTI recognized in earnings(a) $ 64 $ 312 $ 170
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $5 million, $219 million and an
insignificant amount in 2015, 2014 and 2013, respectively.
CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD
(In millions) 2015 201
4
2013
Cumulative credit loss impairments recognized, beginning of period $ 176 $ 473 $ 391
Credit loss impairments recognized on securities not previously impaired 31 1 120
Incremental credit loss impairments recognized
on securities previously impaired - 4 25
Less credit loss impairments previously recognized on securities sold
during the period or that we intend to sell 3 301 63
Cumulative credit loss impairments recognized, end of period $ 205 $ 176 $ 473
CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE AND ASSET-BACKED SECURITIES)
Amortized Estimated
(In millions) cos
t
fair value
Due
Within one year $ 495 $ 501
After one year through five years 2,556 2,745
After five years through ten years 4,846 5,097
After ten years 17,648 20,248
We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations.
GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES
(In millions) 2015 201
4
2013
GE
Gains $ 7 $ 3 $ 1
Losses, including impairments (36) (218) (20)
Net (29) (215) (19)
GE Capital
Gains 121 87 128
Losses, including impairments (51) (104) (156)
Net 70 (16) (28)
Total $ 41 $ (231) $ (47)
Although we generally do not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing
our investment securities portfolio, we may sell securities prior to their maturities for a variety of reasons, including diversification, credit
quality, yield and liquidity requirements and the funding of claims and obligations to policyholders.
Proceeds from investment securities sales and early redemptions by issuers totaled $5,746 million, $1,898 million and $6,406 million for
the years ended 2015, 2014 and 2013, respectively. In 2015, investment securities sales of U.S. government and federal agency
securities, CMBS, and RMBS at Trinity totaled $4,254 million.
GE 2015 FORM 10-K 155