GE fourth quarter ’09 supplemental information • • • • • • • • • • • • • • GECS segment results – continuing operations GECS segment assets GECS non-earnings/write-offs GECS delinquency GECS funding GECC debt/equity ratio GECS debt/equity ratio GECC Tier 1 Common ratio GECS Tier 1 Common ratio Capital Finance Ending Net Investment Capital Finance non-earning exposure walk Industrial CFOA from continuing operations Effective tax rate GE (ex. GECS) 2010 organization simplification … summary of operating segments GECS segment results – continuing operations ($ in millions – net earnings) 4Q’09 4Q’08 V% CLL $362 $(200) F Real Estate (593) (60) U Consumer 259 832 (69)% GECAS 277 239 16 31 219 (86) (225) (496) 55 $111 $534 EFS GECS Corporate & elims. Earnings from continuing ops. attributable to GECS (79)% Preliminary 2009 fourth quarter results/2 GECS segment assets GECS & consolidated affiliates ($ in billions) 4Q’09 4Q’08 V% $205.8 $228.2 (10)% Real Estate 81.5 85.3 (4) Consumer 176.0 187.9 (6) GECAS 51.1 49.5 3 EFS 22.6 22.1 2 110.9 86.2 28 $647.9 $659.2 1.5 1.7 $649.4 $660.9 CLL GECS Corporate & elims. Total GECS – continuing operations Assets of discontinued operations Total GECS (2)% (11) (2)% Preliminary 2009 fourth quarter results/3 GECS non-earnings/write-offs ($ in millions) Non-earning assets/non-earnings % fin. rec. Total write-offs/write-offs % fin. rec. 4Q’09 3Q’09 4Q’08 $5,121 3.63% $5,319 3.61% $2,628 1.64% 1,252 2.79 1,320 2.90 194 0.41 Real Estate GECAS 167 1.09 211 1.40 146 0.95 EFS 78 1.01 360 4.31 241 2.87 6,565 4.92 6,519 4.78 4,750 3.33 72 2.74 78 2.53 38 0.96 CLL Real Estate Consumer GECS corp. & elims. Total GECS $13,255 3.84% $13,808 3.88% $7,997 2.12% 4Q’09 4Q’08 $386 1.03% $498 1.18% 72 0.64 106 0.92 2 0.02 GECAS 16 0.41 2 0.06 0 0.01 EFS 67 3.30 0 0 0 0 1,279 3.79 1,418 4.10 1,239 3.13 2 0.34 7 0.87 2 0.21 $1,929 2.20% $1,919 2.13% $1,741 1.73% CLL Consumer GECS corp. & elims. Total GECS $494 1.37% 3Q’09 Preliminary 2009 fourth quarter results/4 GECS delinquency 4Q’09 3Q’09 4Q’08 Consumer On-book delinquency 9.10% 9.12% 7.31% Off-book delinquency 7.20 6.85 8.24 Managed delinquency 8.82 8.80 7.43 On-book delinquency 2.91% 3.09% 2.34% Off-book delinquency 2.29 2.51 1.20 Managed delinquency 2.81 3.01 2.17 Equipment Financing Preliminary 2009 fourth quarter results/5 GECS funding ($ in billions) FIN 46 LT debt - TLGP Debt composition $515 6 $509 13 $508 4 $504 55 $500-a) 3 $497 60 Unsecured term issuances ’09 TLGP pre-funding Early funding of ’10 maturities $84 13 $70 38 $20-$25 71 LT debt nonguaranteed Alternative funding/others-b) Comm’l paper Bank lines CP coverage Cash & equiv. LT debt<1 yr. 32 368 346 332 56 72 53 50 58 47 4Q'08 3Q'09 4Q'09 $60 83% $37 $69 $52 100%+ $57 $69 $52 100%+ $64 $70 '08 Early funding of ’11 maturities '09 '10E Highlights • 2010 LT debt plan fully funded ($38B)… issued $23B total non guaranteed debt in ‘09 • Global presence in tough market…~18% of ‘09 issuances in 8 non-US currencies • Plan to issue ~$20-$25B LT debt in ’10 to prefund 50%+ of ’11 LTD plan … $4.4B completed • ~$53B business ENI reduction helped reduce debt partially offset by increase due to FX & cash (a- Includes ~$17B YTD FX impact (b- Includes ~$1B of GE-GECS inter-company loan & debt from alternative funding sources booked in LT debt (~$5B in 4Q’09, ~$3B in 3Q’09 & ~$0B in 4Q’08) Preliminary 2009 fourth quarter results/6 GECC debt/equity ratio ($ in billions) As reported Debt Shareowner’s equity–a) Book leverage (debt/equity) Debt Subtract: hybrids from debt Subtract: cash & equiv. from debt Adjusted book debt Shareowner’s equity Add: hybrids to equity Adjusted book equity Adjusted leverage 4Q’08 3Q’09 4Q’09 $510.4 58.2 $504.1 73.2 $496.6 73.7 8.8 6.9 6.7 510.4 (7.7) (36.4) 466.3 504.1 (7.7) (56.2) 440.2 496.6 (7.7) (63.7) 425.2 58.2 7.7 65.9 73.2 7.7 80.9 73.7 7.7 81.4 7.1 5.4 5.2 (a- Total equity ex. noncontrolling interests Preliminary 2009 fourth quarter results/7 GECS debt/equity ratio ($ in billions) As reported Debt Shareowner’s equity–a) Book leverage (debt/equity) Debt Subtract: hybrids from debt Subtract: cash & equiv. from debt Adjusted book debt Shareowner’s equity Add: hybrids to equity Adjusted book equity Adjusted leverage 4Q’08 3Q’09 4Q’09 $514.6 53.3 $508.4 70.7 $500.3 70.8 9.7 7.2 7.1 514.6 (7.7) (37.5) 469.4 508.4 (7.7) (56.9) 443.8 500.3 (7.7) (64.4) 428.2 53.3 7.7 61.0 70.7 7.7 78.4 70.8 7.7 78.5 7.7 5.7 5.5 (a- Total equity ex. noncontrolling interests Preliminary 2009 fourth quarter results/8 GECC Tier 1 common ratio estimate ($ in billions) 4Q’08 3Q’09 4Q’09 As reported Shareholder’s equity $58.2 $73.2 $73.7 Shareholder’s equity - Intang. & GW - Unr. G/(L) on Invt. & Hdg. - Other additions/(deductions) $58.2 (28.4) 5.3 (0.8) $73.2 (31.4) 3.0 (1.1) $73.7 (31.8) 2.5 (1.1) 34.3 43.7 43.3 604.3 580.2 565.0 5.7 7.5 7.7 Tier 1 common Estimated risk weighted assets GECC Tier 1 common ratio Preliminary 2009 fourth quarter results/9 GECS Tier 1 common ratio estimate ($ in billions) 4Q’08 3Q’09 4Q’09 As reported Shareholder’s equity $53.3 $70.7 $70.8 Shareholder’s equity - Intang. & GW - Unr. G/(L) on Invt. & Hdg. - Other additions/(deductions) $53.3 (29.0) 6.2 (0.8) $70.7 (32.0) 2.4 (1.1) $70.8 (32.4) 2.2 (1.1) 29.7 40.0 39.5 632.9 611.2 598.7 4.7 6.5 6.6 Tier 1 common Estimated risk weighted assets GECC Tier 1 common ratio Preliminary 2009 fourth quarter results/10 Capital Finance Ending Net Investment ($ in billions) 4Q’08 GECS assets (cont. ops.) Subtract: non-debt liabilities GECS ENI Subtract: GECS HQ ENI Capital Finance ENI Subtract: effects of FX Capital Finance ENI (@ 4Q’08 FX) $659.2 ($85.5) 3Q’09 4Q’09 $656.8 $647.9 ($75.7) ($74.9) $573.7 $581.1 $573.0 (48.5) (75.5) (79.4) $525.2 $505.6 $493.6 - ($20.3) $525.2 $485.3 ($21.4) $472.2 Preliminary 2009 fourth quarter results/11 Capital Finance non-earning exposure walk ($ in billions) Commercial $6.6 Consumer $6.6 (1.2) (2.0) (1.7) 100% recovery 4.6 215% coverage $3.6 (2.0) Nonmortgage Loans in recovery/ workout $3.5 nonmortgage reserves Expect full recovery/ cure 175% coverage (2.6) Cure 206% coverage 1.7 Collateral value on remaining exposure 4Q’09 non-earning 3Q’09 coverage (1.3) $1.0 (0.1) Estimated loss exposure 4Q’09 reserves 189% 4Q’09 non-earning Mortgage non-earnings 0.5 Estimated Estimated Estimated loss collateral MI exposure value 4Q’09 mortgage reserves 206% Preliminary 2009 fourth quarter results/12 Industrial CFOA from continuing operations ($ in millions) Cash from GE’s operating activities as reported Less GECS dividends Cash from GE’s operating activities excluding dividends from GECS (Industrial CFOA) 4Q’08 YTD 4Q’09 4Q’09 YTD $5,116 $16,581 $19,086 – – 2,351 $5,116 $16,581 $16,735 YTD V% (13)% (1)% Preliminary 2009 fourth quarter results/13 Effective tax rate GE (ex. GECS) ($ in millions) GE earnings from continuing operations before income taxes Less GECS earnings from continuing ops. Adjusted earnings from continuing ops. before income taxes GE (ex. GECS) provision for income taxes – continuing ops. Effective tax rate GE (ex. GECS) 4Q’09 4Q’09 YTD $3,531 $14,142 111 1,590 $3,420 $12,552 $346 $2,739 10% 22% Preliminary 2009 fourth quarter results/14 2010 organization simplification … summary of operating segments-a) ($ in billions) TY Q1 2009 Q2 Q3 Q4 TY 2008 Q2 Q1 Q3 Q4 2007 TY Revenues: Energy Infrastructure: Energy Oil & Gas Technology Infrastructure: Aviation Healthcare Transportation Home & Business Solutions Capital Finance NBCU Total Segment Revenues: Corporate Items & Eliminations Consolidated Revenues 40.6 33.7 7.7 38.5 18.7 16.0 3.8 8.4 51.3 15.4 154.3 2.5 156.8 9.1 7.8 1.5 9.5 4.8 3.5 1.2 1.9 13.8 3.5 37.8 0.6 38.4 10.5 8.7 1.9 9.6 4.6 4.0 1.1 2.2 12.7 3.6 38.6 0.5 39.1 9.8 8.0 2.0 9.3 4.5 3.8 1.0 2.1 12.0 4.1 37.3 0.5 37.8 11.3 9.2 2.3 10.1 4.7 4.7 0.6 2.2 12.7 4.3 40.6 0.8 41.4 43.0 36.3 7.4 41.6 19.2 17.4 5.0 10.1 68.6 17.0 180.3 2.2 182.5 8.8 7.4 1.5 9.4 4.3 3.9 1.1 2.5 17.3 3.6 41.5 0.7 42.2 10.8 9.1 1.9 10.6 4.9 4.5 1.2 2.7 18.2 3.9 46.3 0.6 46.8 10.9 9.2 1.9 10.3 4.8 4.2 1.3 2.6 17.9 5.1 46.7 0.6 47.2 12.5 10.7 2.1 11.4 5.2 4.8 1.4 2.4 15.2 4.4 45.9 0.3 46.2 34.9 29.0 6.8 38.3 16.8 17.0 4.5 11.0 68.1 15.4 167.8 4.7 172.5 Segment Profit: Energy Infrastructure: Energy Oil & Gas Technology Infrastructure: Aviation Healthcare Transportation Home & Business Solutions Capital Finance NBCU Total Segment Profit: Corporate Items & Eliminations GE Interest and Other Financial Charges GE provision for Income Taxes Earnings from Continuing Operations Earnings from Discontinued Operations Consolidated Earnings 7.1 6.0 1.2 6.8 3.9 2.4 0.5 0.4 1.7 2.3 18.3 -2.8 -1.5 -2.7 11.2 -0.2 11.0 1.3 1.2 0.2 1.7 1.1 0.4 0.2 0.0 1.0 0.4 4.5 -0.4 -0.4 -0.8 2.8 0.0 2.8 1.9 1.6 0.3 1.7 0.9 0.6 0.2 0.1 0.4 0.5 4.7 -0.5 -0.3 -0.9 2.9 -0.2 2.7 1.6 1.3 0.3 1.6 1.0 0.5 0.2 0.1 0.1 0.7 4.3 -0.8 -0.4 -0.7 2.5 0.0 2.5 2.3 1.9 0.4 1.7 1.0 0.9 -0.2 0.1 0.1 0.6 4.8 -1.1 -0.4 -0.3 3.0 0.0 3.0 6.5 5.5 1.1 7.5 3.7 2.9 1.0 0.4 8.1 3.1 25.6 -1.9 -2.2 -3.4 18.1 -0.7 17.4 1.2 1.0 0.2 1.5 0.8 0.5 0.3 0.1 2.5 0.7 6.1 -0.3 -0.6 -0.8 4.4 0.0 4.3 1.7 1.4 0.3 1.9 0.9 0.7 0.2 0.1 2.8 0.9 7.4 -0.5 -0.6 -1.0 5.4 -0.3 5.1 1.5 1.3 0.3 1.7 0.8 0.6 0.3 0.0 2.1 0.6 6.1 -0.1 -0.5 -1.0 4.5 -0.2 4.3 2.1 1.8 0.4 2.3 1.2 0.9 0.2 0.0 0.7 0.9 6.0 -1.0 -0.5 -0.7 3.9 -0.1 3.7 5.2 4.5 0.9 7.2 3.2 3.1 0.9 1.0 12.4 3.1 28.9 -1.6 -2.0 -2.8 22.5 -0.2 22.2 623.6 613.0 625.9 631.7 623.6 637.6 653.3 664.6 655.1 637.6 614.5 Capital Finance Assets -b) (a- Preliminary & unaudited results reflecting the January 1, 2010 segment reorganization (b- Assets of continuing operations Preliminary 2009 fourth quarter results/15