GE fourth quarter ’13 supplemental information • • • • • • • • • • • • • • • GE Capital segment results GE Capital segment assets GE Capital non-accrual/non-earnings/write-offs GECC funding GECC leverage ratio GECC tier 1 common ratio estimate GE Capital ending net investment GE Capital reserves Operating earnings & EPS GE Industrial CFOA from continuing operations GE CFOA from continuing operations GE Industrial segment organic revenue growth GE Industrial segment organic revenue growth ex. Power & Water GE effective tax rate (ex. GECC) Industrial segment operating margin ex. acquisitions GE Capital segment results ($ in millions – net earnings) 4Q’13 4Q’12 V% CLL $263 $546 (52)% Consumer 2,057 751 F 128 309 (59) 71 343 (79) 117 107 9 (143) (251) 43 $2,493 $1,805 38% Real Estate GECAS EFS GECC Corporate GE Capital 2 GE Capital segment assets ($ in billions) 4Q’13 4Q’12 $174.4 $181.4 Consumer 132.2 138.0 (4) Real Estate 38.7 46.2 (16) GECAS 45.9 49.4 (7) EFS 16.2 19.2 (16) 107.1 101.8 5 $514.5 $536.0 CLL GECC Corporate GE Capital V% (4)% (4)% 3 GE Capital non-accrual/non-earnings/ write-offs ($ in millions) Non-accrual assets/ non-accrual % fin. rec. 4Q’13 CLL Real Estate GECAS EFS Consumer GECC Corporate GE Capital Non-earning assets -a)/ non-earning % fin. rec. Total write-offs/ write-offs % fin. rec. 3Q’13 4Q’12 4Q’13 3Q’13 4Q’12 4Q’13 $3,389 2.95% $4,138 3.40% $2,702 2.32% $2,324 2.02% $2,877 2.37% $185 0.64% 2,551 12.82 3,723 19.63 4,885 23.32 2,301 11.56 357 1.88 444 2.12 28 0.58 61 1.26 350 5.93 - - 3 0.03 - - - - - 2 0.07 4 0.13 4 0.09 - 4 0.13 4 0.09 - - - - 2,620 2.40 3,802 3.44 4,288 3.75 2,219 2.03 3,745 3.39 4,181 3.66 1,227 4.47 757 2.75 790 2.80 6 1.89 11 2.80 25 5.14 6 1.89 - 13 2.67 - (1) (0.98) 3 2.35 $7,915 3.07% $10,929 4.23% $13,339 4.88% $7,232 2.80% $2,734 2.35% $6,430 2.49% $7,515 2.75% $1,440 2.23% 3Q’13 $95 0.33% $912 1.40% 4Q’12 $357 1.17% $1,502 2.19% a) - During the fourth quarter of 2013, we updated our nonaccrual and nonearning policies to more closely align with industry practice, resulting in a convergence in nonearning and nonaccrual amounts. As a result, nonearning financing receivables increased from $6.4 billion at September 30, 2013 to $7.2 billion at December 31, 2013 primarily due to financing receivables previously classified as cash basis ($2.2 billion, primarily in Real Estate and CLL), partially offset by Consumer credit cards no longer classified as cost recovery ($1.1 billion). In addition, nonaccrual financing receivables declined from $10.9 billion to $7.9 billion primarily due to Real Estate and CLL performing restructured receivables returned to accrual status ($1.5 billion) and Consumer credit cards no longer classified as nonaccrual ($1.1 billion). Given the convergence in nonaccrual and nonearning levels, we plan to discontinue the reporting of nonearning receivables in the first quarter of 2014. 4 GECC funding ($ in billions) Debt composition –a) Non-recourse Securitization LT debt - TLGP LT debt nonguaranteed Deposits/CDs Alternative funding/other Comm’l paper Bank lines CP coverage Cash & equiv. LT debt <1yr. $397 30 253 Unsecured term issuances $376 $371-b) 30 30 $27 238 234 '11 46 25 43 51 24 33 53 25 29 4Q'12 3Q'13 4Q'13 $48 100%+ $62 $44 $48 100%+ $76 $38 $48 100%+ $75 $39 $32 $32 '12 '13 • Completed $32B of LT debt issuance in 11 currencies • Liquidity in the global CP markets continues to be strong • Deposits/CDs and other alternative funding ~21% of total debt, securitization ~8% • Liquidity position remains strong (a - Continuing operations (b - Includes ~$(0.6)B YTD FX impact and ~$(6.0)B YTD FAS 133 5 GECC leverage ratio –a) ($ in billions) As reported Debt Equity–b) Leverage ratio Debt Less: hybrid debt Less: cash & equiv. Adjusted debt Equity–b) Add: hybrid debt Adjusted equity Adjusted leverage ratio 4Q’13 3Q’13 4Q’12 $371.1 83.7 $376.1 84.1 $397.4 81.9 4.4 4.5 4.9 371.1 (7.7) (75.0) 288.4 376.1 (7.7) (76.4) 292.0 397.4 (7.7) (62.1) 327.6 83.7 7.7 91.4 84.1 7.7 91.8 81.9 7.7 89.6 3.2 3.2 3.7 (a - Includes discontinued operations for all periods (b - Total equity ex. non-controlling interests 6 GECC tier 1 common ratio estimate -a) ($ in billions) 4Q’13 3Q’13 2Q’13 1Q’13 4Q’12 $83.7 $84.1 $84.2 $83.9 $81.9 (4.9) (27.4) (0.0) (0.4) (4.9) (27.9) 0.1 (0.8) (4.9) (28.0) 0.3 (0.8) (4.0) (28.2) (0.1) (0.7) (4.0) (28.6) 0.1 (0.8) 51.0 50.6 50.8 50.9 48.6 447.2 446.2 454.4 458.9 476.8 11.4% 11.3% 11.2% 11.1% 10.2% Tangible Common Equity/Tangible Assets 10.5% 10.4% 10.4% 10.3% 9.7% As reported Shareowners’ equity-b) - Preferred equity - Intang. & GW - Unr. G/(L) on invt. & hdg. - Other additions/(deductions) Tier 1 common Estimated risk weighted assets-c) Tier 1 common ratio (a - Includes discontinued operations for all periods (b - Total equity ex. non-controlling interests (c - Based on Basel One RWA estimates 7 GE Capital ending net investment ($ in billions) 4Q’13 3Q’13 2Q’13 1Q’13 4Q’12 $516.8 $520.7 $521.1 $529.5 $539.4 (2.3) (2.6) (2.8) (2.8) (3.3) Less: non-interest bearing liabilities & others (59.3) (58.0) (58.5) (57.8) (57.6) GE Capital ENI 455.2 460.1 459.8 468.9 478.5 Less: cash & equivalents (74.9) (76.3) (69.5) (67.7) (61.9) GE Capital ENI (ex. cash) $380.3 $383.8 $390.3 $401.2 $416.6 GECC total assets Less: assets of discontinued operations 8 GE Capital reserves ($ in billions) Allowances for losses $4.9 $5.1 $5.2 1.1 1.2 Commercial 1.4 Consumer 3.6 4.0 4.0 4Q'12 3Q'13 4Q'13 1.81% 37% 66% 1.97% 47% 79% 2.01% 65% 72% Coverage: Reserves Non-accrual Non-earnings Note: Reserve components are calculated independently. As a result, the sum of the individually displayed amounts may not equal the total. 9 Operating earnings & EPS ($ in millions except earnings per share) 4Q’13 4Q’12 V% Earnings from continuing operations attributable to GE $4,991 $4,314 16% Adjustment (net of tax): non-operating pension costs/(income) Operating earnings 426 TY’13 $15,177 $14,624 350 $5,417 $4,664 16% TY’12 1,705 V% 4% 1,386 $16,882 $16,010 5% Earnings per share – diluted -a) Continuing earnings per share Adjustment (net of tax): non-operating pension costs/(income) Operating earnings per share $0.49 .04 $0.53 $0.41 20% .03 $0.44 20% $1.47 $1.38 .16 .13 $1.64 $1.51 7% 9% (a - Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total 10 GE Industrial CFOA from continuing operations ($ in millions) Cash from GE’s operating activities as reported Less GECC dividends Industrial CFOA; Cash from GE’s operating activities excluding dividends from GECC Adjustment: effects of NBCU deal-related taxes Adjustment: effect of pension contributions Industrial CFOA excluding NBCU deal-related taxes and pension contributions TY’13 TY’12 $14,255 $17,826 5,985 6,426 $8,270 $11,400 3,184 – – 433 $11,454 $11,833 V% (20)% (27)% (3)% 11 GE CFOA from continuing operations ($ in millions) TY’13 TY’12 $14,255 $17,826 3,184 – Adjustment: effect of pension contributions – 433 Cash from GE’s operating activities as reported less the effects of NBCU dealrelated taxes and pension contributions $17,439 $18,259 Cash from GE’s operating activities as reported Adjustment: effects of NBCU deal-related taxes V% (20)% (4)% 12 GE Industrial segment organic revenue growth ($ in millions except earnings per share) Industrial segment revenue Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates 4Q’13 4Q’12 V% $29,947 $28,216 6% 864 534 Industrial segment revenues excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates $29,083 $27,682 TY’13 $103,602 $102,811 1,566 5% TY’12 V% 1% 842 $102,036 $101,969 0% 13 GE Industrial segment organic revenue growth ex. Power & Water ($ in millions except earnings per share) TY’13 TY’12 V% $103,602 $102,811 1% Less Power & Water 24,724 28,299 Industrial segment revenues 78,878 74,512 1,592 728 $77,286 $73,784 Industrial segment revenue Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates Industrial segment revenues excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates 6% 5% 14 GE effective tax rate (ex. GECC) ($ in millions) 4Q’13 4Q’12 GE earnings from continuing operations before income taxes $5,736 $5,126 Less GECC earnings from continuing ops. attributable to the company 2,493 1,805 8,258 7,345 $3,243 $3,321 $8,832 $9,452 $602 $694 $1,668 $2,013 Adjusted earnings from continuing ops. before income taxes GE (ex. GECC) provision for income taxes – continuing ops. Effective tax rate GE (ex. GECC) 19% 21% TY’13 TY’12 $17,090 $16,797 19% 21% 15 Industrial segment operating margin, excluding acquisitions ($ in millions) TY’13 Industrial segments Revenues Op profit Operating margin Less the effects of acquisitions in 2013 Revenues Op profit Industrial segments, excluding the effects of acquisitions in 2013 Revenues Op profit Operating margin $103,602 16,220 15.66% TY’12 Var. $102,811 15,486 15.06% 60bps. $102,811 15,486 15.06% 66bps. $(1,503 ) (168 ) $102,099 16,052 15.72% 16