GE fourth quarter ’11 supplemental information • • • • • • • • • • • • • • • • • • GE Capital segment results GE Capital segment assets GE Capital non-earnings/write-offs GECS funding Debt/equity ratio – GECC & GECS Tier 1 common ratio estimate – GECC & GECS GE Capital Ending Net Investment GE Capital reserves GECS-GECC merger Reorganization within Energy Infra. segment Industrial CFOA from continuing operations Effective tax rate GE (ex. GECS) GE Industrial segment organic revenue growth Total revenues excluding NBCU impact Industrial sales excluding NBCU impact 2010 EPS: continuing & operating Operating earnings & EPS Average total shareowners’ equity, excluding effects of discontinued operations GE Capital segment results ($ in millions – net earnings) 4Q’11 4Q’10 V% CLL $777 $567 37% Real Estate (153 ) (409 ) 63 Consumer 575 546 5 GECAS 315 432 (27) EFS 110 33 F (2) (142 ) 99 Corporate & elims. GE Capital $1,622 $1,027 58% Preliminary 2011 fourth quarter results 2 GE Capital segment assets ($ in billions) 4Q’11 4Q’10 $193.9 $202.7 Real Estate 60.9 72.6 (16) Consumer 139.0 147.3 (6) GECAS 48.8 49.1 (1) EFS 18.4 19.5 (6) Corporate & elims. 91.6 74.1 24 $552.5 $565.3 CLL GE Capital V% (4)% (2)% Preliminary 2011 fourth quarter results 3 GE Capital non-earnings/write-offs ($ in millions) Non-earning assets/non-earnings % fin. rec. 4Q’11 3Q’11 4Q’10 $3,309 2.56% $3,299 2.53% $4,226 3.05% Real Estate 790 2.41 1,028 2.99 1,347 3.35 GECAS 55 0.46 62 0.52 EFS 22 0.37 CLL Consumer Corporate & elims. GE Capital Total write-offs/write-offs % fin. rec. 4Q’11 CLL $187 0.57% 3Q’11 $264 0.80% 4Q’10 $442 1.26% Real Estate 141 1.68 187 2.10 365 3.53 – 0.00 GECAS – 0.00 0 0.01 (0) (0.00) 135 2.26 62 0.88 EFS (1) (0.06) (2) (0.10) 72 4.03 5,064 4.43 5,276 4.54 5,752 4.79 Consumer 920 3.19 834 2.83 1,337 4.50 65 5.10 71 5.13 102 5.70 Corporate & elims. 15 4.58 13 3.51 6 1.24 $9,305 3.15% $9,871 3.29% $1,262 1.69% $1,296 1.71% $2,222 2.76% $11,489 3.59% GE Capital Preliminary 2011 fourth quarter results 4 GECS funding ($ in billions) Debt composition –a) Non-recourse securitization LT debt - TLGP $471 30 53 $457 29 45 Unsecured term issuances $443-b) $70 29 35 '09 LT debt nonguaranteed 284 276 268 Alternative funding/others 62 66 67 Comm’l. paper 42 41 44 4Q'10 3Q'11 4Q'11 Bank lines CP coverage Cash & equiv. LT debt<1 yr. $52 100%+ $60 $66 $54 100%+ $83 $76 $52 100%+ $77 $83 $25 $27 '10 '11 • Completed $27B of LT debt issuance in 10 currencies … including $6B in 4Q • Liquidity in the global CP markets continues to be strong • Alternative funding ~15% of total debt, securitization ~7% • Liquidity position remains strong (a- Continuing operations (b- Includes ~($1) YTD FX impact & ~$6 YTD FAS 133 Preliminary 2011 fourth quarter results 5 Debt/equity ratio –a) ($ in billions) As reported Debt Shareowner’s equity–b) Book leverage (debt/equity) Debt Subtract: hybrids from debt Subtract: cash & equiv. from debt Adjusted book debt Shareowner’s equity–b) Add: hybrids to equity Adjusted book equity Adjusted leverage GECC GECS 4Q’10 3Q’11 4Q’11 4Q’10 3Q’11 4Q’11 $465.4 72.9 $453.2 79.1 $438.2 80.0 $470.6 69.0 $458.4 76.0 $443.4 77.1 6.4 5.7 5.5 6.8 6.0 5.7 465.4 (7.7 ) (59.7 ) 397.9 453.2 (7.7 ) (82.7 ) 362.8 438.2 (7.7) (76.0) 354.5 470.6 (7.7 ) (60.4 ) 402.4 458.4 (7.7) (83.6) 367.1 443.4 (7.7) (77.0) 358.7 72.9 7.7 80.6 79.1 7.7 86.8 80.0 7.7 87.8 69.0 7.7 76.7 76.0 7.7 83.7 77.1 7.7 84.8 4.9 4.2 4.0 5.2 4.4 4.2 (a- Includes discontinued operations for all periods (b- Total equity ex. non-controlling interests Preliminary 2011 fourth quarter results 6 Tier 1 common ratio estimate –a), -b) ($ in billions) GECC GECS 4Q’10 3Q’11 4Q’11 4Q’10 3Q’11 4Q’11 $72.9 $79.1 $80.0 $69.0 $76.0 $77.1 Shareowner’s equity–c) - Intang. & GW - Unr. G/(L) on invt. & hdg. - Other additions/(deductions) 72.9 (29.5 ) 1.7 (0.8 ) 79.1 (29.4 ) 2.4 (0.6 ) 80.0 (28.8) 1.9 (0.6 ) 69.0 (29.5 ) 1.9 (0.8) 76.0 (29.4) 1.8 (0.7) 77.1 (28.8) 1.1 (0.7) Tier 1 common 44.3 51.4 52.5 40.7 47.6 48.7 497.7 468.2 461.8 523.5 495.5 490.3 As reported Shareowner’s equity–c) Estimated risk weighted assets Tier 1 common ratio 8.9% 11.0% 11.4% 7.8% 9.6% 9.9% (a- Includes discontinued operations for all periods (b- Based on Basel One RWA estimates (c- Total equity ex. noncontrolling interests Preliminary 2011 fourth quarter results 7 GE Capital ending net investment ($ in billions) GECC assets (cont. ops.) Subtract: non-debt liabilities GE Capital ENI Subtract: cash & equivalents GE Capital ENI (ex. cash) GECC disc. ops. ENI (ex. cash) GECC ENI (ex. cash) 1/1/09 4Q’10 3Q’11 4Q’11 $612.1 59.7 $565.3 35.2 $571.3 36.8 $552.5 32.2 552.5 530.1 534.5 520.3 36.6 59.5 82.4 75.7 $515.8 $470.5 $452.1 $444.6 $21.4 $(0.2) $537.2 $444.3 Preliminary 2011 fourth quarter results 8 GE Capital reserves ($ in billions) Allowances for losses Commercial Consumer Coverage: Reserves Non-earnings $8.0 $6.7 $6.4 2.8 2.7 4.5 3.9 3.7 4Q'10 3Q'11 4Q'11 2.51% 70% 2.22% 68% 2.15% 68% 3.5 Environment continues to improve Preliminary 2011 fourth quarter results 9 GECS-GECC merger ($ in billions) GECC as reported GECS as reported GECC post merger $45.7 $49.1 $49.1 Earnings from continuing operations 6.5 6.4 6.4 Net earnings attributable to GECC/GECS 6.6 6.5 6.5 Total assets 553.7 584.5 584.5 Total liabilities 472.9 506.7 506.7 Total equity 80.7 77.8 77.8 ENI (ex. cash) 444.3 444.8 444.8 December 31, 2011 Revenues Preliminary 2011 fourth quarter results 10 Reorganization within Energy Infra. segment Preliminary recast data ($ in millions) Q1 2010 Q2 2011 Q3 Q4 TY Q1 Q2 Q3 Q4 TY 2009 2008 2007 Original basis Revenues: Energy Infrastructure Energy Oil & Gas 9,449 7,845 1,787 10,402 8,141 2,468 10,855 8,522 2,526 12,988 10,322 3,024 43,694 34,830 9,805 8,655 7,205 1,593 9,540 8,027 1,774 8,359 6,812 1,778 10,960 8,810 2,416 37,514 30,854 7,561 40,648 33,698 7,743 43,046 36,307 7,417 34,880 28,971 6,849 Segment Profit: Energy Infrastructure Energy Oil & Gas 1,381 1,221 199 1,552 1,268 333 1,503 1,221 319 2,214 1,849 453 6,650 5,559 1,304 1,481 1,339 191 1,910 1,661 292 1,656 1,393 287 2,224 1,842 435 7,271 6,235 1,205 7,105 6,045 1,222 6,497 5,485 1,127 5,238 4,478 860 Revenues: Energy Infrastructure Energy Oil & Gas 9,449 7,107 2,558 10,402 7,184 3,480 10,855 7,566 3,520 12,988 9,223 4,105 43,694 31,080 13,663 8,655 6,792 2,027 9,540 7,577 2,260 8,359 6,390 2,219 10,960 8,281 2,977 37,514 29,040 9,483 40,648 31,858 9,701 43,046 34,273 9,615 34,880 27,173 8,827 Segment Profit: Energy Infrastructure Energy Oil & Gas 1,381 1,115 306 1,552 1,117 483 1,503 1,087 453 2,214 1,673 630 6,650 4,992 1,872 1,481 1,282 247 1,910 1,563 390 1,656 1,326 355 2,224 1,716 561 7,271 5,887 1,553 7,105 5,736 1,532 6,497 5,083 1,528 5,238 4,094 1,244 New Basis Realigned Measurement & Controls Solutions business under Oil & Gas, effective 10/1/11 Better go-to-market alignment ... predominantly Oil & Gas customers Drive more scale in attractive process solutions business No change to overall Energy Infrastructure segment Preliminary 2011 fourth quarter results 11 Industrial CFOA from continuing operations ($ in millions) 4Q’11 YTD Cash from GE’s operating activities as reported Less GECS dividends Cash from GE’s operating activities excluding dividends from GECS (Industrial CFOA) 4Q’10 YTD $12,057 $14,746 – – $12,057 $14,746 YTD V% (18)% (18)% Preliminary 2011 fourth quarter results 12 Effective tax rate GE (ex. GECS) ($ in millions) 4Q’11 4Q’10 TY’11 TY’10 GE earnings from continuing operations before income taxes $4,374 $3,651 $19,078 $15,060 Less GECS earnings from continuing ops. attributable to the company 1,618 1,007 6,432 3,023 Adjusted earnings from continuing ops. before income taxes $2,756 $2,644 $12,646 $12,037 $4,839 $2,024 GE (ex. GECS) provision for income taxes – continuing ops. Effective tax rate GE (ex. GECS) $402 15% $(455 ) (17)% 38% 17% Preliminary 2011 fourth quarter results 13 GE Industrial segment organic revenue growth ($ in millions) Industrial segment revenue Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates Industrial revenues excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates 4Q’11 4Q’10 V% $26,768 $24,227 10% 1,537 84 $25,231 $24,143 5% Preliminary 2011 fourth quarter results 14 Total revenues excluding NBCU impact ($ in millions) Total Company revenues as reported Less: NBCU related revenues Company revenues excluding NBCU impact 4Q’11 4Q’10 $37,973 $41,225 212 4,762 $37,761 $36,463 V% (8)% TY’11 V% $147,300 $149,593 (2)% 5,686 4% TY’10 16,901 $141,614 $132,692 7% Preliminary 2011 fourth quarter results 15 Industrial sales excluding NBCU impact ($ in millions) GE sales as reported Less: NBCU related sales Industrial sales excluding NBCU impact 4Q’11 4Q’10 $26,743 $28,715 – 4,653 $26,743 $24,062 V% (7)% 11% TY’11 TY’10 $95,036 $100,220 1,205 16,590 $93,831 $83,630 V% (5)% 12% Preliminary 2011 fourth quarter results 16 2010 EPS: continuing & operating 2010 total year EPS Transfers to As originally discontinued operations reported Earnings per share from continuing operations Less the effects of excluding non-operating pension costs Operating earnings per share $1.15 $0.01 0.02 $1.13 Recast for discontinued operations $1.14 0.02 $0.01 $1.12 GE Capital Consumer recasts to discontinued operations: Singapore, Australia, New Zealand Preliminary 2011 fourth quarter results 17 Operating earnings & EPS ($ in millions except earnings per share) Earnings from continuing operations attributable to GE Less: non-operating pension costs/(income), net of tax Operating earnings Earnings per share – diluted–a) Continuing earnings per share Less: non-operating pension costs/(income) after tax Operating earnings per share Less: preferred stock redemption Operating earnings per share excluding the effect of the preferred stock redemption 4Q’11 4Q’10 V% TY’11 TY’10 V% $3,927 $3,902 1% $14,074 $12,517 12% 172 (47) 688 (204) $4,099 $3,855 6% $14,762 $12,313 20% $0.37 $0.36 3% $1.23 $1.14 8% .02 – .06 (.02) $0.39 $0.35 $1.29 $1.12 – – .08 – $0.39 $0.35 $1.37 $1.12 11% 11% 15% 22% (a- Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total Preliminary 2011 fourth quarter results 18 Average total shareowners’ equity, excluding effects of discontinued operations-b) December 31, 2011 Average total shareowners’ equity–a) Less the effects of the average net investment in discontinued operations Average total shareowners’ equity, excluding effects of discontinued operations-b) Total GE GECS $122,289 $48,500 $73,789 4,340 (109 ) $117,949 $48,609 4,449 $69,340 (a- On an annual basis, calculated using a five-point average (b- Used for computing return on average total shareowners’ equity and return on average total capital invested (ROTC) Preliminary 2011 fourth quarter results 19