GE Capital First quarter 2010 supplement Results are unaudited. This document contains “forward-looking statements”- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of U.S. and foreign government programs to restore liquidity and stimulate national and global economies; the impact of conditions in the financial and credit markets on the availability and cost of GE Capital’s funding and on our ability to reduce GE Capital’s asset levels exposure as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the soundness of other financial institutions with which GE Capital does business; the level of demand and financial performance of the major industries we serve, including, without limitation, air transportation, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of proposed financial services regulation; strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. This document may also contain non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of our financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. First quarter 2010 supplemental information Table of Contents 1. GE Capital structure Page # 1 2. Financial statements a) GECC 3-4 b) GECS 5-6 c) GECC continuing operations (GE Capital) 7 d) Impact of FAS 167 adoption 8-9 3. GE Capital asset quality a) Assets by region 11 b) Assets in selected emerging markets 12 c) Portfolio overview and ratios 13-18 d) Consumer allowance for losses on financing receivables 19 e) Consumer financing receivables by region 20 f) Consumer mortgage portfolio by country 21 g) Commercial allowance for losses on financing receivables 22 h) Commercial real estate debt and equity overview 23-24 i) Equipment leased to others overview 25 j) Commercial aircraft asset details 26 4. GE Capital other key areas a) Investment securities 28 b) Investments measured at fair value in earnings 29 c) Ending net investment 30 d) GECC ratios 31 5. GECS supplemental information a) Assets by region 33 b) Investment securities 34 c) Funding 35 d) Ratios 36 6. Appendix a) Glossary 38-39 GE Capital structure General Electric Company General Electric Capital Services, Inc. (GECS) General Electric Capital Corporation (GECC) GE Capital - operating segments Consumer - Private label credit cards Bank cards Personal loans Auto loans and leases Mortgages & home equity loans Debt consolidation Deposit & other savings products Small & medium enterprise lending Commercial Lending and Leasing (CLL) - Mid-market loans and leases of equipment and major capital assets - Mid-market equity capital Real Estate - Equity capital for acquisition or recapitalization of commercial real estate - Fixed/floating rate mortgages for commercial real estate Energy Financial Services (EFS) - Structured debt, equity, leasing, partnership financing and project financing to global energy and water industries - Invests in operating assets in these industries GE Capital Aviation Services (GECAS) - Commercial aircraft leasing and financing - Project financing for airport facilities 1 Financial statements 2 GECC - condensed statement of earnings (In millions) Revenues Revenues from services Sales of goods Total revenues March 31, 2010 $ Costs and expenses Interest Operating and administrative Cost of goods sold Investment contracts, insurance losses and insurance annuity benefits Provision for losses on financing receivables Depreciation and amortization Total costs and expenses 12,050 281 12,331 December 31, 2009 $ 12,456 279 12,735 For three months ending September 30, 2009 $ 11,792 213 12,005 June 30, 2009 $ 12,531 205 12,736 March 31, 2009 $ 13,502 273 13,775 3,929 3,677 265 35 2,263 1,924 12,093 4,228 3,948 239 45 2,907 2,128 13,495 4,135 3,673 181 47 2,868 2,068 12,972 4,475 3,495 164 45 2,817 1,946 12,942 5,113 3,902 224 73 2,336 2,180 13,828 Earnings (loss) from continuing operations before income taxes Benefit for income taxes 238 372 (760) 856 (967) 1,116 (206) 654 (53) 1,128 Earnings from continuing operations (a) Loss from discontinued operations, net of taxes 610 (387) 96 (11) 149 84 448 (194) 1,075 (3) Net earnings Less: net earnings (loss) attributable to noncontrolling interests 223 3 85 (40) 233 8 254 17 1,072 46 Net earnings attributable to GECC $ 220 $ 125 GECC - statement of changes in shareowners' equity March 31, 2010 (In millions) Changes in GECC shareowners' equity Balance at beginning of period Accounting changes (b) Dividends and other transactions with shareowner Accumulated other comprehensive income - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans Total other comprehensive income Increases attributable to net earnings Comprehensive income Balance at end of period $ 73,718 (1,565) (4) December 31, 2009 $ 143 (1,312) 413 42 (714) 215 (499) $ 71,650 73,193 (12) $ 73,718 $ For three months ending September 30, 2009 $ 401 (38) 138 (60) 441 96 537 $ 225 71,720 (24) 73,168 $ June 30, 2009 $ 420 896 (17) 2 1,301 171 1,472 $ 237 65,635 23 March 31, 2009 $ 556 4,731 593 (17) 5,863 199 6,062 $ 71,720 1,026 58,229 8,750 (40) (3,024) 723 8 (2,333) 989 (1,344) $ 65,635 (a) Effective January 1, 2010, GE Captial segment earnings are equal to the earnings from continuing operations for GECC. (b) March 31, 2010 reflects the impact of adoption of FAS 167 (ASU 2009-17). 3 GECC - condensed statement of financial position (In millions) Assets Cash and equivalents Investment securities (see page 28) Inventories Financing receivables - net Other receivables Property, plant & equipment, less accumulated amortization of $26,387, $26,307, $26,471, $26,327 and $25,578 Goodwill Other intangible assets - net Other assets Assets of businesses held for sale Assets of discontinued operations Total assets Liabilities and equity Short-term borrowings Accounts payable Non-recourse borrowings of consolidated securitization entities Bank Deposits Long-term borrowings Investment contracts, insurance liabilities and insurance annuity benefits Other liabilities Deferred income taxes Liabilities of businesses held for sale Liabilities of discontinued operations March 31, 2010 $ 59,614 16,237 77 356,185 13,917 December 31, 2009 $ 63,696 27,509 71 336,926 17,876 September 30, 2009 $ 56,695 28,961 3,018 86,355 125 1,470 55,905 28,499 2,786 83,043 949 1,034 56,254 27,613 79 348,518 17,698 June 30, 2009 $ 58,690 28,184 3,371 87,040 1,263 1,533 March 31, 2009 49,188 22,044 73 358,949 17,764 $ 58,627 27,709 3,541 84,747 232 1,462 43,985 21,582 65 354,480 16,672 58,168 24,832 2,982 87,203 1,464 $ 618,246 $ 622,702 $ 630,243 $ 624,336 $ 611,433 $ 119,568 8,019 36,780 38,310 307,032 8,389 19,601 5,908 30 801 $ 128,329 11,162 3,883 38,923 326,321 8,687 22,736 5,831 55 853 $ 128,577 10,378 4,402 36,836 335,275 9,640 20,458 8,394 143 843 $ 140,107 10,101 4,984 36,458 317,757 9,526 24,358 6,151 196 913 $ 144,043 8,977 5,591 33,967 307,115 10,851 23,401 9,019 737 Total liabilites 544,438 546,780 554,946 550,551 543,701 Capital stock Accumulated other comprehensive income - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans Additional paid-in-capital Retained earnings 56 56 56 56 56 (743) (132) (1,403) (392) 28,427 45,837 (676) 1,228 (1,816) (434) 28,431 46,929 (1,077) 1,266 (1,954) (374) 28,418 46,833 (1,497) 370 (1,937) (376) 28,419 46,685 (2,053) (4,361) (2,530) (359) 28,421 46,461 Total GECC shareowner's equity 71,650 73,718 73,168 71,720 65,635 2,158 2,204 2,129 2,065 2,097 73,808 75,922 75,297 73,785 67,732 Noncontrolling interests Total equity Total liabilities and equity $ 618,246 $ 622,702 $ 630,243 $ 624,336 $ 611,433 4 GECS - condensed statement of earnings (In millions) Revenues Revenues from services Sales of goods Total revenues March 31, 2010 $ Costs and expenses Interest Operating and administrative Cost of goods sold Investment contracts, insurance losses and insurance annuity benefits Provision for losses on financing receivables (see pages 19 and 22) Depreciation and amortization Total costs and expenses 12,890 281 13,171 December 31, 2009 $ For three months ending September 30, 2009 13,224 279 13,503 $ 12,533 213 12,746 June 30, 2009 $ March 31, 2009 13,252 205 13,457 $ 14,184 273 14,457 3,938 3,808 265 787 2,263 1,925 12,986 4,225 3,991 239 812 2,907 2,128 14,302 4,128 3,712 181 785 2,868 2,069 13,743 4,468 3,524 164 823 2,817 1,947 13,743 5,121 3,948 224 773 2,336 2,181 14,583 Earnings (loss) from continuing operations before income taxes Benefit for income taxes 185 357 (799) 870 (997) 1,138 (286) 670 (126) 1,151 Earnings from continuing operations Loss from discontinued operations, net of taxes 542 (387) 71 (18) 141 40 384 (193) 1,025 (4) Net earnings Less: net earnings (loss) attributable to noncontrolling interests 155 3 53 (40) 181 8 191 17 1,021 46 Net earnings attributable to GECS $ 152 $ 93 GECS - statement of changes in shareowners' equity March 31, 2010 (In millions) Changes in GECS shareowners' equity Balance at beginning of period Accounting changes (a) Dividends and other transactions with shareowner Accumulated other comprehensive income - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans Total other comprehensive income Increases attributable to net earnings Comprehensive income Balance at end of period $ 70,833 (1,910) (3) December 31, 2009 $ 310 (1,311) 413 42 (546) 143 (403) $ 68,517 $ 70,720 (50) 70,833 $ For three months ending September 30, 2009 $ 42 (37) 125 (60) 70 93 163 $ 173 67,904 (24) 70,658 $ June 30, 2009 $ 1,698 915 (10) 2 2,605 173 2,778 $ 174 60,774 61 March 31, 2009 $ 1,557 4,801 554 (17) 6,895 174 7,069 $ 67,904 975 53,279 9,501 (636) (3,049) 696 8 (2,981) 975 (2,006) $ 60,774 (a) March 31, 2010 reflects the impact of adoption of FAS 167 (ASU 2009-17). 5 GECS - condensed statement of financial position (In millions) Assets Cash and equivalents Investment securities (see page 34) Inventories Financing receivables - net (see pages 13 - 18) Other receivables Property, plant & equipment, less accumulated amortization of $26,402, $26,322, $26,485, $26,341 and $25,591 (see page 25) Goodwill Other intangible assets - net Other assets Assets of businesses held for sale Assets of discontinued operations Total assets Liabilities and equity Short-term borrowings (see page 35) Accounts payable Non-recourse borrowings of consolidated securitization entities Bank Deposits Long-term borrowings (see page 35) Investment contracts, insurance liabilities and insurance annuity benefits Other liabilities Deferred income taxes Liabilities of businesses held for sale Liabilities of discontinued operations March 31, 2010 $ December 31, 2009 60,039 41,523 77 356,185 14,527 $ 64,356 51,913 71 336,926 18,752 September 30, 2009 $ 56,717 28,961 3,479 87,471 125 1,470 55,926 28,499 3,238 84,145 949 1,035 56,898 52,723 79 348,518 18,625 June 30, 2009 $ 58,712 28,184 3,838 87,941 1,263 1,533 March 31, 2009 50,017 45,168 73 358,949 18,719 $ 58,649 27,709 4,009 85,647 232 1,462 45,240 41,783 65 354,480 17,728 58,190 24,832 3,416 88,179 1,464 $ 646,143 $ 650,241 $ 658,314 $ 650,634 $ 635,377 $ 124,457 8,261 36,780 38,310 307,102 31,990 20,566 6,900 30 1,072 $ 131,137 13,275 3,883 38,923 326,391 32,009 23,756 6,793 55 1,138 $ 131,768 12,501 4,402 36,836 335,347 32,948 21,021 9,434 143 1,279 $ 143,316 12,401 4,984 36,458 317,829 32,831 24,904 6,585 196 1,305 $ 146,288 11,718 5,591 33,967 307,242 33,946 23,854 8,863 1,165 Total liabilites 575,468 577,360 585,679 580,809 572,634 Capital stock Accumulated other comprehensive income - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans Additional paid-in-capital Retained earnings 11 11 11 11 11 (343) 13 (1,356) (392) 27,578 43,006 (436) 1,372 (1,769) (434) 27,581 44,508 (478) 1,409 (1,894) (374) 27,568 44,416 (2,176) 494 (1,884) (376) 27,569 44,266 (3,733) (4,307) (2,438) (359) 27,570 44,030 Total GECS shareowners' equity 68,517 70,833 70,658 67,904 60,774 2,158 2,048 1,977 1,921 1,969 70,675 72,881 72,635 69,825 62,743 Noncontrolling interests Total equity Total liabilities and equity $ 646,143 $ 650,241 $ 658,314 $ 650,634 $ 635,377 6 GECC continuing operations (GE Capital) March 31, 2010 (In millions) Revenues Less: Interest expense Net revenues $ 12,331 (3,929) 8,402 December 31, 2009 $ 12,735 (4,228) 8,507 For three months ending September 30, 2009 $ 12,005 (4,135) 7,870 June 30, 2009 $ 12,736 (4,475) 8,261 March 31, 2009 $ 13,775 (5,113) 8,662 Costs and expenses Selling, general and administrative Depreciation and amortization Operating and other expenses Total costs and expenses 2,826 1,924 1,151 5,901 3,108 2,128 1,124 6,360 2,875 2,068 1,026 5,969 2,814 1,946 890 5,650 3,026 2,180 1,173 6,379 Earnings before income taxes and provision for losses Less: Provision for losses on financing receivables 2,501 (2,263) 2,147 (2,907) 1,901 (2,868) 2,611 (2,817) 2,283 (2,336) 238 372 (760) 856 (967) 1,116 (206) 654 (53) 1,128 Earnings (loss) before income taxes Benefit for income taxes Earnings from continuing operations before noncontrolling interests Less: Net earnings (loss) attributable to noncontrolling interests $ 610 3 $ 96 (40) $ 149 8 $ 448 17 $ 1,075 46 GE Capital segment earnings $ 607 $ 136 $ 141 $ 431 $ 1,029 March 31, 2010 (In millions) Segment profit CLL Consumer Real Estate EFS GECAS $ $ GECC corporate items and eliminations GE Capital segment earnings $ December 31, 2009 232 593 (403) 153 317 892 (285) $ 607 $ $ For three months ending September 30, 2009 352 262 (593) 31 283 335 (199) $ 136 $ $ June 30, 2009 130 443 (538) 41 187 263 (122) $ 141 $ $ March 31, 2009 243 252 (237) 65 285 608 (177) $ 431 $ $ 238 737 (173) 75 261 1,138 (109) 1,029 7 GECC - impact of FAS 167 (ASU 2009-17) adoption overview January 1, 2010 (In millions) Assets Financing receivables - net Investment securities Other $ 40,188 (7,552) (1,719) $ 30,917 $ 1,019 37,176 (5,836) Total $ 32,359 Equity Accumulated non-owner changes to equity Retained earnings $ 258 1,307 1,565 (123) $ 1,442 Total Liabilities Borrowings and deposits Nonrecourse borrowings of consolidated securitization entities Other Noncontrolling interests Total 8 GECS - impact of FAS 167 (ASU 2009-17) adoption overview January 1, 2010 (In millions) Assets Financing receivables - net Investment securities Other $ 40,188 (7,552) (2,064) $ 30,572 $ 1,019 37,176 (5,836) Total $ 32,359 Equity Accumulated non-owner changes to equity Retained earnings $ 265 1,645 1,910 (123) $ 1,787 Total Liabilities Borrowings and deposits Nonrecourse borrowings of consolidated securitization entities Other Noncontrolling interests Total 9 GE Capital asset quality 10 GE Capital - assets by region (a), (b) At March 31, 2010 Property, plant and equipment (net) Financing receivables (net) (In millions) 167,575 $ U.S. Europe Western (including U.K.) Eastern Pacific Basin Americas (excluding U.S.) Other $ Total $ 356,185 $ 55,905 $ 617,212 Total at December 31, 2009 $ 336,926 $ 56,695 $ 621,232 Total at September 30, 2009 $ 348,518 $ 58,690 $ 628,710 Total at June 30, 2009 $ 358,949 $ 58,627 $ 622,874 Total at March 31, 2009 $ 354,480 $ 58,168 $ 609,969 87,707 19,800 33,797 32,234 15,072 12,387 Total assets $ 6,892 391 2,824 1,351 32,060 312,015 $ 118,722 30,616 57,670 44,143 54,046 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Total assets Total assets Total assets Total assets 302,126 $ 130,822 31,499 60,233 42,313 54,239 $ 621,232 300,639 $ 136,093 32,044 62,986 42,899 54,049 $ 628,710 296,809 $ 135,993 29,290 63,659 42,837 54,286 $ 622,874 305,239 128,861 27,169 61,705 32,289 54,706 $ 609,969 (a) Excludes assets of discontinued operations. (b) Prior period amounts have been reclassified to conform to current-period's presentation. 11 GE Capital - assets in selected emerging markets (In millions) Selected emerging markets (a) (b) Eastern Europe Poland Czech Republic Hungary Turkey Total Eastern Europe Financing receivables (net) $ 9,773 5,571 3,477 18,821 March 31, 2010 Property, plant and equipment (net) $ 208 64 64 336 Total assets $ 13,274 7,636 4,625 2,801 28,336 $ At December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Total assets Total assets Total assets Total assets 13,421 8,221 4,816 2,684 29,142 $ 13,622 8,165 5,165 2,590 29,542 $ 12,202 7,458 4,765 2,313 26,738 $ 11,664 6,601 4,375 2,010 24,650 Pacific Basin and Other India Thailand Total Pacific Basin and Other 1,326 75 1,401 19 19 2,225 1,455 3,680 1,765 1,386 3,151 2,032 2,524 4,556 2,273 2,536 4,809 2,696 2,430 5,126 Americas Mexico Central America (ex-Mexico) Total Americas 7,893 4,840 12,733 596 248 844 10,000 9,361 19,361 10,155 9,371 19,526 9,930 9,035 18,965 10,199 9,048 19,247 9,948 731 10,679 Total $ 32,955 $ 1,199 $ 51,377 Total at December 31, 2009 $ 34,750 $ 1,230 $ 51,819 Total at September 30, 2009 $ 35,681 $ 1,135 $ 53,063 Total at June 30, 2009 $ 36,043 $ 1,026 $ 50,794 Total at March 31, 2009 $ 29,743 $ 903 $ 40,455 $ 51,819 $ 53,063 $ 50,794 $ 40,455 (a) We have disclosed here selected emerging markets where our total assets at March 31, 2010, exceed $1 billion. Assets of discontinued operations are excluded. (b) Prior period amounts have been reclassified to conform to current-period's presentation. 12 GE Capital - portfolio overview (In millions, unless otherwise noted) Balances (a) March 31, 2010 CLL Americas Europe Asia Other Total (c) $ $ 96,553 39,980 12,664 2,791 151,988 $ $ March 31, 2010 CLL Americas Europe Asia Other Total $ $ $ $ $ $ $ 87,496 41,455 13,202 2,836 144,989 $ $ 92,263 42,499 14,096 2,896 151,754 $ $ $ $ 3,155 1,441 576 24 5,196 $ $ 3,471 1,296 595 31 5,393 $ $ Allowance for losses (e) December 31, September 30, 2009 2009 1,245 575 234 11 2,065 $ $ 1,179 575 244 11 2,009 $ $ 1,098 533 242 6 1,879 247 132 46 425 $ $ 344 102 62 (1) 507 $ $ 266 89 39 3 397 March 31, 2009 97,173 42,705 14,057 2,946 156,881 $ $ June 30, 2009 $ $ 3,057 1,105 533 29 4,724 $ $ $ 2,706 469 389 11 3,575 March 31, 2009 1,133 478 199 8 1,818 $ $ June 30, 2009 $ 100,985 42,756 14,528 3,076 161,345 March 31, 2009 June 30, 2009 Write-offs (net) - for three months ending December 31, September 30, 2009 2009 March 31, 2010 (f) CLL Americas Europe Asia Other Total $ January 1, 2010 (b) 1,319 484 236 12 2,051 $ $ June 30, 2009 Nonearning receivables (d) December 31, September 30, 2009 2009 3,437 1,441 559 24 5,461 $ March 31, 2010 CLL Americas Europe Asia Other Total 99,666 43,403 13,159 2,836 159,064 January 1, 2010 (b) 3,210 1,126 467 26 4,829 $ Financing receivables December 31, September 30, 2009 2009 January 1, 2010 (b) 920 354 178 7 1,459 March 31, 2009 229 88 54 1 372 $ $ 185 68 24 277 (a) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. (b) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (c) Financing receivables include impaired loans of $4,644 million at March 31, 2010, included in this balance is $99 of impaired loans that were consolidated with the adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (d) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (e) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (f) Includes $42 million net write-offs related to VIEs consolidated with the adoption of ASU 2009-17, amendment to ASC810, Consolidation. 13 GE Capital - portfolio overview Ratios (a) Nonearning receivables as as percent of financing receivables (b) January 1, December 31, September 30, 2010 (c) 2009 2009 March 31, 2010 CLL Americas Europe Asia Other Total 3.3 % 2.8 3.7 0.9 3.2 % 41.1 % 43.0 50.5 46.2 42.5 % 1.4 % 1.2 1.9 0.4 1.3 % 37.4 % 39.9 42.4 50.0 38.7 % 1.2 % 1.3 1.8 0.4 1.3 % 1.3 % 1.4 1.8 0.4 1.4 % 1.0 % 1.3 1.4 NM 1.1 % 1.5 % 1.0 1.8 NM 1.4 % 2.71 % 2.81 % March 31, 2009 3.1 % 2.6 3.8 1.0 3.0 % June 30, 2009 31.6 % 41.1 40.7 19.4 34.8 % 2.7 % 1.1 2.7 0.4 2.2 % March 31, 2009 37.1 % 43.3 37.3 27.6 38.5 % June 30, 2009 1.2 % 1.3 1.7 0.2 1.2 % 34.0 % 75.5 45.8 63.6 40.8 % March 31, 2009 1.2 % 1.1 1.4 0.3 1.2 % June 30, 2009 1.1 % 0.8 1.1 0.4 1.0 % Equipment financing December 31, September 30, 2009 2009 March 31, 2010 Managed delinquency 36.2 % 39.9 41.9 45.8 37.8 % Write-offs as a percent of financing receivables (e) December 31, September 30, 2009 2009 March 31, 2010 CLL Americas Europe Asia Other Total 3.8 % 3.0 4.2 1.1 3.6 % Allowance for losses as a percent of total financing receivables (d) January 1, December 31, September 30, 2010 (c) 2009 2009 March 31, 2010 CLL Americas Europe Asia Other Total 3.6 % 3.5 4.4 0.8 3.6 % Allowance for losses as a percent of nonearning receivables (d) January 1, December 31, September 30, 2010 (c) 2009 2009 March 31, 2010 CLL Americas Europe Asia Other Total 3.4 % 3.3 4.2 0.8 3.4 % June 30, 2009 0.9 % 0.8 1.2 0.2 0.9 % March 31, 2009 0.9 % 0.8 1.5 0.1 0.9 % June 30, 2009 3.01 % 0.7 % 0.6 0.6 NM 0.7 % March 31, 2009 2.78 % 2.84 % (a) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. (b) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (c) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (d) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (e) Write-offs percent is calculated as the ratio of annualized write-offs for the quarter divided by average of financing receivables at the beginning and end of the period. 14 GE Capital - portfolio overview (In millions, unless otherwise noted) Balances (a) March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total (c) $ $ 52,722 24,256 43,330 12,025 10,898 143,231 $ $ March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total $ $ $ March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total $ $ $ $ 4,515 451 1,633 72 625 7,296 $ $ 949 1,181 3,300 308 300 6,038 58,345 24,976 23,190 13,344 11,688 131,543 $ $ 60,812 24,963 22,324 14,196 11,975 134,270 June 30, 2009 $ $ Nonearning receivables (d) December 31, September 30, 2009 2009 $ $ 4,515 451 841 72 625 6,504 $ $ 4,736 447 749 74 457 6,463 $ $ Allowance for losses (e) December 31, September 30, 2009 2009 $ $ 949 1,181 1,698 308 300 4,436 $ $ 973 1,108 1,568 296 258 4,203 78 389 1,114 47 91 1,719 $ $ 128 416 602 31 89 1,266 $ $ 122 452 645 91 98 1,408 62,100 25,262 23,939 14,661 11,963 137,925 March 31, 2009 $ $ June 30, 2009 4,854 521 818 83 278 6,554 $ $ 828 1,141 1,575 264 234 4,042 $ $ 115 470 699 108 71 1,463 3,856 442 833 85 212 5,428 $ March 31, 2009 $ 524 1,033 1,718 229 199 3,703 $ June 30, 2009 $ 56,506 22,054 25,286 13,924 10,294 128,064 March 31, 2009 June 30, 2009 Write-offs (net) - for three months ending December 31, September 30, 2009 2009 March 31, 2010 (f) Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total $ January 1, 2010 (b) 913 1,139 3,125 294 308 5,779 $ 58,345 24,976 47,171 13,344 11,688 155,524 January 1, 2010 (b) 4,341 427 1,453 64 518 6,803 $ Financing receivables December 31, September 30, 2009 2009 January 1, 2010 (b) March 31, 2009 $ $ 57 394 658 99 65 1,273 (a) During the first quarter of 2010, we transferred the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. (b) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (c) Financing receivables include impaired loans of $1,845 million at March 31, 2010, included in this balance is $364 of impaired loans that were consolidated with the adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (d) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (e) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (f) Includes $587 million of net write-offs related to VIE assets consolidated with the adoption of ASU 2009-17, amendment to ASC 810, Consolidation, and sellers interest included in the VIE that was on-book prior to January 1, 2010. 15 GE Capital - portfolio overview Ratios (a) Nonearning receivables as as percent of financing receivables (b) January 1, December 31, September 30, June 30, 2010 (c) 2009 2009 2009 March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total 8.2 % 1.8 3.4 0.5 4.8 4.7 % 21.0 % 266.7 215.1 459.4 59.5 84.9 % 1.7 % 4.7 7.2 2.4 2.8 4.0 % 0.6 % 6.3 13.4 1.5 3.2 5.0 % 21.0 % 261.9 201.9 427.8 48.0 68.2 % 1.6 % 4.7 7.0 2.3 2.6 3.9 % 1.6 % 4.7 7.3 2.3 2.6 3.4 % 0.9 % 6.7 10.6 0.9 3.0 3.8 % Consumer December 31, 2009 March 31, 2010 Managed delinquency 21.0 % 261.9 202.1 427.8 48.0 82.8 % 20.5 % 247.9 209.3 400.0 56.5 65.0 % 7.8 % 2.1 3.4 0.6 2.3 4.8 % March 31, 2009 8.72 % 8.85 % 8.82 % 13.6 % 233.7 206.2 269.4 93.9 68.2 % March 31, 2009 1.3 % 4.5 6.6 1.8 2.0 2.9 % June 30, 2009 0.8 % 7.2 11.2 2.5 3.3 4.1 % September 30, 2009 6.8 % 2.0 3.3 0.6 2.1 4.2 % 17.1 % 219.0 192.5 318.1 84.2 61.7 % 1.6 % 4.4 7.0 2.1 2.2 3.1 % Write-offs as a percent of financing receivables (e) December 31, September 30, 2009 2009 March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total 7.8 % 1.8 3.4 0.5 3.8 4.8 % Allowance for losses as a percent of total financing receivables (d) January 1, December 31, September 30, June 30, 2010 (c) 2009 2009 2009 March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total 7.7 % 1.8 3.6 0.5 5.3 4.9 % Allowance for losses as a percent of nonearning receivables (d) January 1, December 31, September 30, June 30, 2010 (c) 2009 2009 2009 March 31, 2010 Consumer Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total 7.7 % 1.8 3.5 0.5 5.3 4.7 % March 31, 2009 0.9 % 4.7 6.8 1.6 1.9 2.9 % March 31, 2009 0.8 % 7.9 11.4 3.0 2.6 4.4 % June 30, 2009 0.4 % 6.8 9.9 2.6 2.4 3.8 % March 31, 2009 8.77 % 8.25 % (a) During the first quarter of 2010, we transferred the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. (b) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (c) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (d) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (e) Write-offs percent is calculated as the ratio of annualized write-offs for the quarter divided by average of financing receivables at the beginning and end of the period. 16 GE Capital - portfolio overview (In millions, unless otherwise noted) Balances March 31, 2010 Real Estate (c) EFS GECAS (f) Other $ 47,586 7,854 12,615 2,445 $ March 31, 2010 Real Estate EFS GECAS (f) Other $ 1,748 80 77 100 $ 48,673 7,790 13,254 2,614 $ $ $ $ $ 45,471 8,362 12,926 3,095 $ 1,252 78 153 72 $ 1,320 360 194 78 1,536 28 104 34 $ 1,494 28 104 34 $ 1,028 101 126 23 $ 73 67 15 2 $ 104 1 7 46,018 8,506 12,901 3,324 $ $ 1,325 241 189 70 $ $ 554 241 191 62 March 31, 2009 570 92 58 27 $ June 30, 2009 $ 45,373 8,360 13,189 3,863 March 31, 2009 June 30, 2009 Write-offs (net) - for three months ending December 31, September 30, 2009 2009 188 71 2 March 31, 2009 June 30, 2009 Allowance for losses (e) December 31, September 30, 2009 2009 January 1, 2010 (b) 1,557 47 54 46 44,841 7,790 13,254 2,614 June 30, 2009 Nonearning receivables (d) December 31, September 30, 2009 2009 1,358 78 153 72 March 31, 2010 Real Estate (c) EFS GECAS (f) Other $ January 1, 2010 (b) March 31, 2010 Real Estate EFS GECAS (f) Other Financing receivables (a) December 31, September 30, 2009 2009 January 1, 2010 (b) 396 66 58 32 March 31, 2009 76 4 $ 9 10 (a) Financing receivables include $7,479 million, $162 million, $102 million and $99 million of impaired loans at Real Estate, EFS, GECAS, and Other, respectively, at March 31, 2010, included in the Real Estate balance is $106 of impaired loans that were consolidated with the adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (b) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (c) Financing receivables included $244 million of construction loans at March 31, 2010. (d) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under FASB ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (e) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (f) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. 17 GE Capital - portfolio overview Ratios Nonearning receivables as as percent of financing receivables (a) January 1, December 31, September 30, 2010 (b) 2009 2009 March 31, 2010 Real Estate EFS GECAS (e) Other 3.7 % 1.0 0.6 4.1 89.1 % 58.8 70.1 46.0 3.3 % 0.6 0.4 1.9 1.6 % 2.2 0.3 119.3 % 35.9 68.0 47.2 3.2 % 0.4 0.8 1.3 3.3 % 0.4 0.8 1.3 0.6 % 3.3 0.5 0.3 Real Estate December 31, 2009 March 31, 2010 Managed delinquency 113.1 % 35.9 68.0 47.2 4.97 % 4.22 % June 30, 2009 March 31, 2009 June 30, 2009 71.5 % 27.4 30.4 51.6 March 31, 2009 1.2 % 1.1 0.4 0.8 June 30, 2009 0.9 % NM NM 0.9 4.09 % 1.2 % 2.9 1.4 1.6 43.0 % 38.2 30.7 38.6 2.3 % 1.2 1.0 0.7 September 30, 2009 March 31, 2009 2.9 % 2.8 1.5 2.1 77.9 % 28.1 64.9 29.5 Write-offs as a percent of financing receivables (d) December 31, September 30, 2009 2009 March 31, 2010 Real Estate EFS GECAS (e) Other 2.9 % 4.3 1.5 2.5 Allowance for losses as a percent of total financing receivables (c) January 1, December 31, September 30, 2010 (b) 2009 2009 March 31, 2010 Real Estate EFS GECAS (e) Other 2.8 % 1.0 1.2 2.8 Allowance for losses as a percent of nonearning receivables (c) January 1, December 31, September 30, 2010 (b) 2009 2009 March 31, 2010 Real Estate EFS GECAS (e) Other 2.8 % 1.0 1.2 2.8 June 30, 2009 0.9 % 0.8 0.4 0.8 March 31, 2009 0.7 % NM NM 0.4 June 30, 2009 0.1 % NM NM 1.0 March 31, 2009 3.88 % 2.22 % (a) Nonearning receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning receivables exclude loans purchased at a discount (unless they have deteriorated post acquisition). Under FASB ASC 310, Receivables, these loans are initially recorded at fair value and accrete interest income over the estimated life of the loan based on reasonably estimable cash flows even if the underlying loans are contractually delinquent at acquisition. In addition, nonearning receivables exclude loans which are paying currently under a cash accounting basis, but classified as impaired. Recently restructured financing receivables are not considered delinquent when payments are brought current according to restructured terms but may remain classified as nonearning until there has been a period of satisfactory payment performance by the borrower and future payments are reasonably assured of collection. (b) Change from December 31, 2009, reflects the impact of adoption of ASU 2009-17, amendments to ASC 810, Consolidation. (c) Losses on financing receivables are recognized when they are incurred, which requires us to make our best estimate of probable losses inherent in the portfolio. Such estimate requires consideration of historical loss experience, adjusted for current conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates, financial health of specific customers and market sectors, collateral values (including housing price indices as applicable), and the present and expected future levels of interest rates. Our risk management process includes standards and policies for reviewing major risk exposures and concentrations, and evaluates relevant data either for individual loans or financing leases, on a portfolio basis, as appropriate. Effective January 1, 2009, loans acquired in a business acquisition are recorded at fair value, which incorporates our estimate at the acquisition date of the credit losses over the remaining life of the portfolio. As a result, the allowance for loan losses is not carried over at acquisition. This may result in lower reserve coverage ratios prospectively. (d) Write-offs percent is calculated as the ratio of annualized write-offs for the quarter divided by average of financing receivables at the beginning and end of the period. (e) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. 18 GE Capital - consumer allowance for losses on financing receivables (In millions) Consumer (d) Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total Balance December 31, 2009 Provision charged to operations (b) Balance January 1, 2010 Adoption of ASU 2009-17 (a) Other (c) Gross writeoffs Balance March 31, 2010 Recoveries $ 949 1,181 1,698 308 300 $ 1,602 - $ 949 1,181 3,300 308 300 $ 108 354 939 43 107 $ (66) (7) (10) (8) $ (105) (543) (1,249) (98) (110) $ 27 154 135 51 19 $ 913 1,139 3,125 294 308 $ 4,436 $ 1,602 $ 6,038 $ 1,551 $ (91) $ (2,105) $ 386 $ 5,779 (In millions) Consumer (d) Non - U.S. residential mortgages Non - U.S. installment and revolving credit U.S. installment and revolving credit Non - U.S. auto Other Total Provision charged to operations Balance January 1, 2009 Other (e) Gross writeoffs Balance March 31, 2009 Recoveries $ 381 1,049 1,700 203 226 $ 236 427 905 117 74 $ (36) (49) (229) 8 (36) $ (80) (491) (695) (141) (76) $ 23 97 37 42 11 $ 524 1,033 1,718 229 199 $ 3,559 $ 1,759 $ (342) $ (1,483) $ 210 $ 3,703 (a) On January 1, 2010, we adopted ASU 2009-17, amendments to ASC 810, Consolidation, that required us to consolidate the allowance for losses of VIEs consolidated on January 1, 2010. (b) Included $385 million of provisions for VIEs consolidated on January 1, 2010. (c) Other primarily included the effects of currency exchange. (d) During the first quarter of 2010, we transferred the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. (e) Other primarily included the effects of securitization activity and currency exchange. 19 GE Capital - consumer financing receivables by region (In millions) March 31, 2010 Installment and revolving credit (b) Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at March 31, 2010 $ - $ 33,074 8,054 7,376 3,670 548 September 30, 2009 52,722 $ Total at September 30, 2009 $ - $ March 31, 2009 $ $ Total at March 31, 2009 $ - $ $ 22,324 47,287 $ 25,286 12,025 $ $ 47,340 $ $ $ 10,898 14,196 1,040 $ 11,975 $ $ 7,505 1,845 4,214 297 63 13,924 1,183 $ 10,294 23,364 57,787 21,751 21,251 9,248 869 $ 134,270 December 31, 2009 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at December 31, 2009 $ - Installment and revolving credit $ 36,503 8,297 9,284 3,672 589 June 30, 2009 58,345 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at June 30, 2009 $ - $ $ 48,166 23,939 $ 49,201 13,344 $ $ 981 $ 11,688 - $ 14,661 1,074 $ 11,963 131,543 Total $ 4,372 4,391 421 1,705 $ 24,171 55,614 21,174 20,463 9,346 775 Other (a) 7,451 1,864 4,507 772 67 $ Total 4,014 4,799 361 1,533 - Auto 8,527 5,894 6,973 3,605 263 $ $ 6,799 1,728 4,087 691 39 Installment and revolving credit $ Other (a) - 8,298 6,350 6,731 3,450 147 37,891 8,067 11,739 3,736 667 62,100 23,190 Auto 25,013 58,241 20,216 23,640 9,818 997 $ 137,925 Total $ 4,265 4,065 544 237 $ 143,231 Total Other (a) - 44,254 50,766 20,300 18,130 9,101 680 4,157 4,953 354 1,471 - Auto $ 924 Other (a) - $ Total 3,632 4,529 342 1,471 - 7,215 1,877 4,321 727 56 8,059 5,665 6,042 1,976 312 $ $ Auto Installment and revolving credit 34,131 7,468 12,067 2,183 657 56,506 - 8,624 6,509 6,274 3,361 195 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 67,586 Other (a) 6,051 1,572 3,728 649 25 Installment and revolving credit 37,791 8,412 10,302 3,689 618 60,812 $ 8,009 6,145 6,684 3,311 107 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 43,330 Auto 26,469 53,960 19,043 22,867 4,693 1,032 $ 128,064 (a) Represents mainly small and medium enterprise loans. (b) Includes $23,981 million related to consolidated VIE loans and leases consolidated on January 1, 2010. 20 GE Capital - consumer mortgage portfolio by country (a) (In millions) Financing receivables March 31, 2010 As a % of total Nonearning receivables Delinquent more than 30 days Financing receivables December 31, 2009 As a % of total U.K. (b) (d) Australia France (d) Poland Mexico Spain Hungary All other $ 19,236 6,328 10,280 5,518 2,019 1,211 1,025 7,105 36.5 % 12.0 19.5 10.5 3.8 2.3 1.9 13.5 16.1 % 1.1 2.0 0.8 8.7 20.3 6.1 6.0 24.4 % 8.7 3.2 1.8 12.7 29.4 10.0 10.3 U.K. Australia France Poland Mexico Spain Hungary All other $ 21,146 7,319 11,455 5,652 2,033 1,316 1,059 8,365 36.2 % 12.5 19.6 9.7 3.5 2.3 1.8 14.3 Total at March 31, 2010 (c) $ 52,722 100.0 % 8.2 % 13.5 % Total at December 31, 2009 $ 58,345 100.0 % Financing receivables September 30, 2009 As a % of total U.K. Australia France Poland Mexico Spain Hungary All other $ 22,135 8,159 11,710 5,698 1,973 1,317 1,073 8,747 36.4 % 13.4 19.3 9.4 3.2 2.2 1.8 14.4 Total at September 30, 2009 $ 60,812 100.0 % Financing receivables March 31, 2009 As a % of total Nonearning receivables 16.1 0.6 1.8 0.4 7.7 21.6 3.8 4.8 Delinquent more than 30 days % 7.8 % Nonearning receivables 25.8 5.7 3.0 1.5 11.7 31.8 8.2 9.1 Financing receivables June 30, 2009 % 13.4 % As a % of total U.K. Australia France Poland Mexico Spain Hungary All other $ 22,745 9,495 11,376 5,505 2,018 1,288 1,044 8,629 36.6 % 15.3 18.3 8.9 3.2 2.1 1.7 13.9 Total at June 30, 2009 $ 62,100 100.0 % Nonearning receivables 15.6 0.6 1.9 0.7 8.3 19.6 4.6 5.0 Delinquent more than 30 days 25.2 6.5 2.9 1.6 12.8 29.4 8.6 9.5 % 7.7 % Nonearning receivables 15.8 2.4 1.6 0.5 7.3 19.7 2.2 4.5 % 13.3 % Delinquent more than 30 days % 7.8 % 25.9 5.2 2.8 1.5 11.4 30.3 6.5 9.1 % 13.3 % Delinquent more than 30 days U.K. Australia France Poland Mexico Spain Hungary All other $ 20,004 9,797 10,527 5,020 1,865 1,236 961 7,096 35.4 % 17.3 18.6 8.9 3.3 2.2 1.7 12.6 14.1 % 2.3 1.4 0.4 5.6 17.5 1.8 4.1 23.7 % 5.0 2.5 1.3 8.9 28.1 5.0 7.7 Total at March 31, 2009 $ 56,506 100.0 % 6.8 % 11.8 % (a) Consumer loans secured by residential real estate (both revolving and closed-end loans) are written down to the fair value of collateral, less costs to sell, no later than when they become 360 days past due. (b) At March 31, 2010, we had in repossession stock approximately 1,000 houses in the U.K., which had a value of approximately $0.2 billion. (c) At March 31, 2010, net of credit insurance, approximately 24% of this portfolio comprised loans with introductory, below market rates that are scheduled to adjust at future dates; with high loan-to-value ratios at inception; whose terms permitted interest-only payments; or whose terms resulted in negative amortization. At origination, we underwrite loans with an adjustable rate to the reset value. 81% of these loans are in our U.K. and France portfolios, which comprise mainly loans with interest-only payments and introductory below market rates, have a delinquency rate of 18.1% and have loan-to-value at origination of 74%. At March 31, 2010, 1% (based on dollar values) of these loans in our U.K. and France portfolios have been restructured. (d) Our U.K. and France portfolios have reindexed loan-to-value ratios of 82% and 67%, respectively. 21 GE Capital - commercial allowance for losses on financing receivables (In millions) CLL (d) Americas Europe Asia Other Balance December 31, 2009 $ Real Estate 1,179 575 244 11 GECAS (d) Total $ 1,494 EFS $ Balance January 1, 2010 (b) Adoption of ASU 2009-17 (a) 66 (10) - $ 42 $ 325 72 50 1 1,536 211 Gross write-offs Other (c) $ (4) (31) (2) (2) (282) (147) (50) - $ 35 15 4 - (189) $ 1 1,319 484 236 12 1,557 - 28 19 - - - 47 104 - 104 21 - (71) - 54 $ 98 $ 3,733 Balance January 1, 2009 (In millions) $ Real Estate 843 311 163 4 $ 699 $ Provision charged to operations $ 271 123 50 - (39) Other (c) $ (9) (12) (11) 3 110 (6) EFS 58 10 (2) GECAS (d) 58 $ 1,738 $ 564 $ $ (37) (201) (82) (28) - $ $ 55 Recoveries $ (9) $ (739) Gross write-offs 301 Total $ Recoveries Balance March 31, 2010 28 3,635 CLL (d) Americas Europe Asia Other 1,245 575 234 11 Provision charged to operations 16 14 4 - $ 3,709 Balance March 31, 2009 $ 920 354 178 7 - 396 - - 66 - - 58 (320) $ 34 $ 1,979 (a) On January 1, 2010, we adopted ASU 2009-17, amendments to ASC 810, Consolidation, that required us to consolidate the allowance for losses of VIEs consolidated on January 1, 2010. (b) Included $44 million and $11 million of provisions for CLL and Real Estate, respectively, related to VIEs consolidated on January 1, 2010. (c) Other primarily included the effects of currency exchange. (d) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL and the Consumer business in Italy from Consumer to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. 22 GE Capital - commercial real estate debt overview (In millions) March 31, 2010 Region December 31, 2009 Financing receivables September 30, 2009 June 30, 2009 March 31, 2009 U.S. (a) Europe Pacific Basin Americas $ 30,505 5,103 3,135 8,843 $ 27,008 5,807 3,235 8,791 $ 27,542 5,986 3,133 8,810 $ 28,231 5,953 3,105 8,729 $ 28,669 5,435 3,124 8,145 Total (b) $ 47,586 $ 44,841 $ 45,471 $ 46,018 $ 45,373 March 31, 2010 Vintage profile Originated in pre-2007 2007 2008 2009 2010 Total March 31, 2010 Property type December 31, 2009 Financing receivables September 30, 2009 June 30, 2009 March 31, 2009 Office buildings Owner occupied Apartment buildings Hotel properties Warehouse properties Retail facilities Mixed use Parking facilities Other $ 10,923 12,227 7,418 5,117 4,231 4,229 1,304 124 2,013 $ 11,121 8,276 7,649 5,152 4,349 4,302 1,395 122 2,475 $ 11,171 8,431 7,932 5,153 4,383 4,377 1,389 128 2,507 $ 11,122 8,539 8,330 5,309 4,383 4,371 1,341 133 2,490 $ 10,905 8,607 8,329 5,149 4,304 4,146 1,326 124 2,483 Total (b) $ 47,586 $ 44,841 $ 45,471 $ 46,018 $ 45,373 March 31, 2010 Contractual maturities $ 16,960 13,755 16,714 155 2 Due in 2010 and prior (c) 2011 2012 2013 2014 and later $ 47,586 Total $ 11,290 10,203 7,122 3,348 15,623 $ 47,586 (a) Balance at March 31, 2010 includes $3,832 million of consolidated VIE loans and leases consolidated on January 1, 2010. (b) Represents total gross financing receivables for Real Estate only. (c) Includes $708 million relating to loans with contractual maturities prior to January 1, 2010. 23 GE Capital - commercial real estate equity overview (a) (In millions, unless otherwise noted) March 31, 2010 Region December 31, 2009 Equity September 30, 2009 June 30, 2009 March 31, 2009 U.S. Europe Pacific Basin Americas $ 9,531 10,864 7,523 3,053 $ 9,892 11,705 7,966 3,027 $ 10,067 12,384 7,902 3,031 $ 10,055 12,120 7,595 3,006 $ 10,173 11,142 7,320 2,785 Total $ 30,971 $ 32,590 $ 33,384 $ 32,776 $ 31,420 March 31, 2010 Vintage profile (e) Originated in pre-2007 2007 2008 2009 2010 Total $ $ 14,270 13,390 2,582 568 161 March 31, 2010 Property type December 31, 2009 Equity September 30, 2009 June 30, 2009 March 31, 2009 Office buildings Apartment buildings Warehouse properties Retail facilities Mixed use Parking facilities Owner occupied Hotel properties Other $ 15,602 4,334 3,775 2,993 1,622 824 745 347 729 $ 16,340 4,747 3,869 3,194 1,723 787 724 421 785 $ 16,714 4,708 4,054 3,244 1,829 841 714 424 856 $ 16,543 4,585 3,994 3,162 1,802 834 687 357 812 $ 15,637 4,442 3,772 2,884 1,759 837 669 360 1,060 Total $ 30,971 $ 32,590 $ 33,384 $ 32,776 $ 31,420 March 31, 2010 Key metrics Owned real estate (b) $ Net operating income (annualized) Net operating income yield (c) $ End of period vacancies (d) 26,915 December 31, 2009 $ 1,488 $ 5.4 % 20.6 % 28,365 September 30, 2009 $ 1,628 $ 5.7 % 20.6 % 29,005 June 30, 2009 $ 1,621 $ 5.6 % 20.7 % 28,591 March 31, 2009 $ 1,606 $ 5.7 % 20.3 % 27,581 1,569 5.6 % 18.7 % 30,971 Foreclosed properties $ 718 $ 779 $ 729 $ 508 $ 254 (a) Includes real estate investments related to Real Estate only. (b) Excludes joint ventures, equity investment securities, and foreclosed properties. (c) Net operating income yield is calculated as annualized net operating income for the relevant quarter as a percentage of the average owned real estate. (d) Excludes hotel properties, apartment buildings and parking facilities. (e) Includes foreclosed properties based on date of foreclosure. 24 GE Capital - equipment leased to others (ELTO), net of depreciation and amortization overview (a) (In millions) March 31, 2010 Collateral type CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Mobile equipment All other $ Total at March 31, 2010 $ December 31, 2009 Collateral type GECAS 3,179 10,256 2,870 1,687 1,801 979 $ 20,772 $ CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Mobile equipment All other $ Total at December 31, 2009 $ September 30, 2009 Collateral type $ Total at September 30, 2009 $ 30,207 - $ 30,207 $ GECAS 3,246 11,509 2,887 1,696 1,910 967 $ 22,215 $ CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Mobile equipment All other EFS $ 23,848 $ 1,232 $ 1,232 $ 29,737 - $ 29,737 $ $ 30,287 $ $ 1 2 14 27 $ Consumer 952 $ 952 $ - $ 1 2 15 28 $ Consumer 793 $ 793 $ - CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Mobile equipment All other $ 52,238 Total at June 30, 2009 $ March 31, 2009 Collateral type GECAS 3,009 12,892 2,914 2,039 2,001 1,207 $ 24,062 $ CLL 32,983 11,519 2,887 1,697 1,912 1,934 Aircraft Vehicles Railroad rolling stock Construction and manufacturing Mobile equipment All other $ 52,932 Total at March 31, 2009 $ EFS 30,019 - $ 30,019 $ GECAS 3,277 13,024 2,966 2,059 2,024 1,036 $ 24,386 $ Consumer 796 $ 796 $ $ 29,412 $ $ 33,028 12,903 2,914 2,040 2,002 2,020 $ 54,907 11 1 1 17 EFS 29,412 - - Total 30 Consumer 800 $ 800 $ - Total $ 32,689 13,037 2,966 2,059 2,025 1,852 $ 54,628 13 1 16 30 Total $ 33,532 12,774 2,903 1,814 1,913 2,023 $ 54,959 12 1 3 15 31 June 30, 2009 Collateral type 33,386 10,266 2,870 1,688 1,803 2,225 Total 10 EFS 30,287 - - Total 10 EFS GECAS 3,245 12,762 2,903 1,813 1,910 1,215 Consumer (a) During the first quarter of 2010, we transferred the Transportation Financial Services business from GECAS to CLL. Prior-period amounts were reclassified to conform to current-period's presentation. 25 GE Capital - commercial aircraft asset details (a) March 31, 2010 Collateral type (In millions) December 31, 2009 Loans and leases September 30, 2009 June 30, 2009 March 31, 2009 Narrow-body aircraft Wide-body aircraft Cargo Regional jets Engines $ 22,692 9,044 2,899 5,601 2,467 $ 22,882 8,532 3,030 5,931 2,480 $ 22,927 8,710 2,991 6,023 2,385 $ 22,663 8,695 3,027 6,100 2,231 $ 22,199 9,889 1,719 6,144 2,370 Total $ 42,703 $ 42,855 $ 43,036 $ 42,716 $ 42,321 March 31, 2010 Airline regions (In millions) December 31, 2009 Loans and leases September 30, 2009 June 30, 2009 March 31, 2009 U.S. Europe Pacific Basin Americas Other $ 14,321 9,552 7,657 5,882 5,291 $ 14,700 9,642 6,481 6,099 5,933 $ 14,514 9,858 7,554 5,708 5,402 $ 14,606 9,705 7,227 5,273 5,905 $ 13,781 9,866 7,023 5,332 6,319 Total $ 42,703 $ 42,855 $ 43,036 $ 42,716 $ 42,321 GECS aircraft Vintage proflie March 31, 2010 0-5 years 6-10 years 11 - 15 years 15+ years $ 14,863 15,085 5,474 4,814 Total (b) $ 40,236 (a) Includes loans and financing leases of $12,615 million, $13,254 million, $12,927 million, $ 12,901 million, and $13,189 million (less non-aircraft loans and financing leases of $119 million, $136 million, $178 million, $204 million, and $280 million) and ELTO of $30,207 million, $29,737 million, $30,287 million, $30,019 million, and $29,412 million at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009, and March 31, 2009, respectively, related to commercial aircraft at GECAS. (b) Excludes aircraft engine loans and leases of $2,467 million at March 31, 2010. 26 GE Capital other key areas 27 GE Capital - investment securities (In millions) Debt U.S. corporate (a) State and municipal Residential mortgage-backed (b) Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency Amortized cost $ 4,120 880 2,683 1,643 2,394 1,718 1,888 642 Retained interests (c) Equity Available-for-sale Trading Total (In millions) Debt U.S. corporate State and municipal Residential mortgage-backed Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency $ $ 81 5 21 16 53 35 15 1 $ (170) (189) (543) (231) (264) (78) (33) - Estimated fair value $ 4,031 696 2,161 1,428 2,183 1,675 1,870 643 Amortized cost $ $ 83 3 21 5 29 18 15 $ - (236) (216) (722) (302) (298) (26) (25) - $ 5,062 674 2,298 1,302 2,199 986 2,451 1,865 (22) 43 8,479 392 (40) 8,831 950 426 145 - (14) - 1,081 426 897 720 227 - (3) - 1,121 720 17,406 $ 858 94 67 39 62 219 421 - $ 375 $ (6) (9) (5) (3) (17) (32) (4) - $ 43 $ $ Estimated fair value 3 - Equity 5,215 887 2,999 1,599 2,468 994 2,461 1,865 At December 31, 2009 Gross Gross unrealized unrealized gains losses 62 (1,544) $ 16,237 $ At March 31, 2010 - In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized fair value losses fair value losses Retained interests Total At March 31, 2010 Gross Gross unrealized unrealized gains losses 1,803 (13) $ (89) $ 883 577 1,357 1,032 1,229 360 176 - $ (164) (180) (538) (228) (247) (46) (29) - 28,584 $ 793 $ (1,868) $ 27,509 At December 31, 2009 - In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized fair value losses fair value losses $ 611 237 74 68 310 370 - $ (20) (120) (4) (7) (14) (3) - $ 1,365 421 1,561 1,015 1,312 346 195 - $ (216) (96) (718) (302) (291) (12) (22) - 15 (22) 208 (16) 27 (24) 4 (1) 23 (1) 8 (2) 5,633 $ (1,455) $ 1,901 $ (185) $ 6,250 $ (1,683) (a) Included $65 million of U.S. corporate debt securities at March 31, 2010, related to our adoption of ASU 2009-16 & 17 on January 1, 2010. (b) Substantially collateralized by U.S. mortgages. (c) Included $1,918 million of retained interests at December 31, 2009 accounted for at fair value in accordance with ASC 815, Derivatives and Hedging. 28 GE Capital - investments measured at fair value in earnings (a) Asset balances at March 31, 2010 Investment type (In millions) Equities - trading $ Retained interests December 31, 2009 426 $ 720 Net earnings impact for three months ending March 31, 2010 $ 14 - 1,939 - 2,535 3,708 - Assets of businesses held for sale (LOCOM) 949 125 - Investment companies 404 477 Assets held for sale (LOCOM) Total $ 4,314 $ 6,969 (1) $ 13 (a) Excludes derivatives portfolio. 29 GE Capital - ending net investment (ENI) March 31, 2010 (In billions) GECC total assets $ Less: assets of discontinued operations Less: non-interest bearing liabilities GE Capital ENI $ Less: cash and equivalents GE Capital ENI, excluding cash and equivalents 618.2 January 1, 2010 $ $ 622.7 (1.0) (1.5) (1.5) (42.0) (42.2) (48.1) 575.2 $ (59.6) $ 653.6 December 31, 2009 515.6 609.9 $ (63.9) $ 546.0 573.1 (63.7) $ 509.4 30 GECC - ratios Debt to equity ratio (In billions) March 31, 2010 Debt Equity (a) January 1, 2010 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 $501.7 71.7 $535.7 72.2 $497.5 73.7 $505.1 73.2 $499.3 71.7 $490.7 65.6 7.0:1 7.4:1 6.7:1 6.9:1 7.0:1 7.5:1 $501.7 (7.7) (59.6) 434.4 $535.7 (7.7) (63.7) 464.2 $497.5 (7.7) (63.7) 426.0 $505.1 (7.7) (56.3) 441.1 $499.3 (7.7) (49.2) 442.4 $490.7 (7.7) (44.0) 439.0 Equity (a) Add: hybrid debt Adjusted equity 71.7 7.7 79.4 72.2 7.7 79.9 73.7 7.7 81.4 73.2 7.7 80.9 71.7 7.7 79.4 65.6 7.7 73.4 Adjusted debt to equity ratio 5.5:1 5.8:1 5.2:1 5.5:1 5.6:1 6.0:1 Debt to equity ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt Tangible common equity to tangible assets ratio (In billions) March 31, 2010 January 1, 2010 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Total equity (a) Less: Goodwill and other intangibles $ 71.7 (31.3) $ 72.2 (32.0) $ 73.7 (32.0) $ 73.2 (31.6) $ 71.7 (31.3) $ 65.6 (27.8) Tangible common equity $ 40.4 $ 40.2 $ 41.7 $ 41.6 $ 40.5 $ 37.8 Total assets Less: Goodwill and other intangibles $ 618.2 (31.3) $ 653.6 (32.0) $ 622.7 (32.0) $ 630.2 (31.6) $ 624.3 (31.3) $ 611.4 (27.8) Tangible assets $ 587.0 $ 621.7 $ 590.7 $ 598.7 $ 593.1 $ 583.6 Tangible common equity to tangible assets 6.9 % 6.5 % 7.1 % 7.0 % 6.8 % 6.5 % Tier 1 common ratio (b) 7.8 % 7.5 % 7.6 % 7.5 % 7.4 % 7.2 % (a) Equity represents amounts available to GECC shareholders, excluding noncontrolling interests. (b) Estimated based on SCAP requirements. 31 GECS supplemental information 32 GECS - assets by region (a), (b) At (In millions) March 31, 2010 Property, plant and equipment (net) Financing receivables (net) 167,575 $ U.S. Europe Western (including U.K.) Eastern Pacific Basin Americas (excluding U.S.) Other $ Total $ 356,185 $ 55,926 $ 645,108 Total at December 31, 2009 $ 336,926 $ 56,717 $ 648,771 Total at September 30, 2009 $ 348,518 $ 58,712 $ 656,781 Total at June 30, 2009 $ 358,949 $ 58,649 $ 649,172 Total at March 31, 2009 $ 354,480 $ 58,190 $ 633,913 87,707 19,800 33,797 32,234 15,072 12,408 Total assets $ 339,862 $ 118,749 30,616 57,670 44,167 54,044 6,892 391 2,824 1,351 32,060 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Total assets Total assets Total assets Total assets 329,622 $ 130,845 31,499 60,233 42,333 54,239 $ 648,771 328,662 $ 136,119 32,044 62,986 42,921 54,049 $ 656,781 323,060 $ 136,019 29,290 63,659 42,858 54,286 $ 649,172 329,139 128,885 27,170 61,705 32,308 54,706 $ 633,913 (a) Excludes assets of discontinued operations. (b) Prior period amounts have been reclassified to conform to current-period's presentation. 33 GECS - investment securities (In millions) Debt U.S. corporate (a) State and municipal Residential mortgage-backed (b) Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency Amortized cost $ Retained interests (c) Equity Available-for-sale Trading Total (In millions) Debt U.S. corporate State and municipal Residential mortgage-backed Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency $ $ 1,009 43 84 142 77 85 68 47 $ (571) (210) (574) (340) (269) (95) (36) (10) Estimated fair value $ 23,228 1,963 3,194 2,872 2,733 2,568 2,379 1,432 Amortized cost $ $ 981 34 79 89 48 59 63 46 $ (756) (246) (766) (440) (305) (50) (29) - $ 23,635 1,794 3,318 2,702 2,737 1,840 2,936 2,674 (22) 43 8,479 392 (40) 8,831 550 426 149 - (14) - 685 426 489 720 242 - (5) - 726 720 41,957 $ 3,906 373 74 47 68 263 479 306 $ 1,707 $ 5,582 (74) (15) (6) (3) (20) (33) (7) (10) $ - 66 $ $ Estimated fair value 3 - Equity 23,410 2,006 4,005 3,053 2,994 1,831 2,902 2,628 At December 31, 2009 Gross Gross unrealized unrealized losses gains 62 (2,141) $ 41,523 $ At March 31, 2010 - In loss position for Less than 12 months 12 months or more Estimated Gross Estimated Gross Retained interests Total 22,790 2,130 3,684 3,070 2,925 2,578 2,347 1,395 At March 31, 2010 Gross Gross unrealized unrealized losses gains (12) $ (180) $ 4,145 698 1,512 1,295 1,255 502 177 - $ 52,517 $ 2,033 $ (2,637) $ 51,913 At December, 31 2009 - In loss position for Less than 12 months 12 months or more Estimated Gross Estimated Gross (497) (195) (568) (337) (249) (62) (29) - $ 3,146 592 118 167 126 374 399 - $ (88) (129) (14) (5) (11) (18) (4) - $ 4,880 535 1,678 1,293 1,342 481 224 - $ (668) (117) (752) (435) (294) (32) (25) - 15 (22) 208 (16) 27 (24) 6 (2) 92 (2) 10 (3) 9,605 $ (1,961) $ 5,222 $ (287) $ 10,470 $ (2,350) (a) Included $65 million of U.S. corporate debt securities at March 31, 2010, related to our adoption of ASU 2009-16 & 17 on January 1, 2010. (b) Substantially collateralized by U.S. mortgages. (c) Included $1,918 million of retained interests at December 31, 2009 accounted for at fair value in accordance with ASC 815, Derivatives and Hedging. 34 GECS - funding March 31, 2010 (In billions) December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Commercial paper Long-term debt (a) Deposits/brokered CD's Alternate funding / other Non-recourse borrowings of consolidated securitization entities $ 46.0 358.7 38.3 26.8 36.8 $ 47.3 384.4 38.9 25.8 3.9 $ 50.0 393.7 36.8 23.5 4.4 $ 50.1 391.3 36.5 19.7 5.0 $ 57.5 378.4 34.0 17.6 5.6 Total debt $ 506.6 $ 500.3 $ 508.4 $ 502.6 $ 493.1 Metrics Bank lines $51.6 $51.7 $52.3 $55.4 $58.3 Commercial paper coverage (b) 112.0 % 109.0 % 104.6 % 110.6 % 101.4 % Cash and equivalents $60.0 $64.4 $56.9 $50.0 $45.2 LT debt < 1 year $64.6 $70.2 $68.9 $82.4 $79.0 (a) Includes $59 million, $60 billion, $55 billion, $48 billion, and $37 billion of long term debt issued under the TLGP program at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively. (b) Commercial paper coverage represents bank lines as a percentage of the commercial paper balance as of the end of the relevant period. 35 GECS - ratios Debt to equity ratio (In billions) March 31, 2010 Debt Equity (a) January 1, 2010 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 $506.6 68.5 $538.5 68.9 $500.3 70.8 $508.4 70.7 $502.6 67.9 $493.1 60.8 7.4:1 7.8:1 7.1:1 7.2:1 7.4:1 8.1:1 $506.6 (7.7) (60.0) 438.9 $538.5 (7.7) (64.4) 466.4 $500.3 (7.7) (64.4) 428.3 $508.4 (7.7) (56.9) 443.7 $502.6 (7.7) (50.0) 444.8 $493.1 (7.7) (45.2) 440.1 Equity (a) Add: hybrid debt Adjusted equity 68.5 7.7 76.2 68.9 7.7 76.6 70.8 7.7 78.6 70.7 7.7 78.4 67.9 7.7 75.6 60.8 7.7 68.5 Adjusted debt to equity ratio 5.8:1 6.1:1 5.5:1 5.7:1 5.9:1 6.4:1 Debt to equity ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt Tangible common equity to tangible assets ratio (In billions) March 31, 2010 January 1, 2010 December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 Total equity (a) Less: Goodwill and other intangibles $ 68.5 (31.7) $ 68.9 (32.4) $ 70.8 (32.4) $ 70.7 (32.0) $ 67.9 (31.7) $ 60.8 (28.2) Tangible common equity $ 36.8 $ 36.5 $ 38.4 $ 38.6 $ 36.2 $ 32.5 Total assets Less: Goodwill and other intangibles $ 646.1 (31.7) $ 680.8 (32.4) $ 650.2 (32.4) $ 658.3 (32.0) $ 650.6 (31.7) $ 635.4 (28.2) Tangible assets $ 614.4 $ 648.4 $ 617.8 $ 626.3 $ 618.9 $ 607.1 Tangible common equity to tangible assets 6.0 % 5.6 % 6.2 % 6.2 % 5.8 % 5.4 % Tier 1 common ratio (b) 6.8 % 6.6 % 6.6 % 6.5 % 6.4 % 6.3 % (a) Equity represents amounts available to GECS shareholders, excluding noncontrolling interests. (b) Estimated based on SCAP requirements. 36 Appendix 37 Glossary Term Definition Borrowing Financial liability (short or long-term) that obligates us to repay cash or another financial asset to another entity. Cash equivalents Highly liquid debt instruments with original maturities of three months or less, such as commercial paper. Typically included with cash for reporting purposes, unless designated as available-for-sale and included with investment securities. Cash flow hedges Qualifying derivative instruments that we use to protect ourselves against exposure to variability in future cash flows. The exposure may be associated with an existing asset or liability, or with a forecasted transaction. See "Hedge." Commercial paper Unsecured, unregistered promise to repay borrowed funds in a specified period ranging from overnight to 270 days. Derivative instrument A financial instrument or contract with another party (counterparty) that is designed to meet any of a variety of risk management objectives, including those related to fluctuations in interest rates, currency exchange rates or commodity prices. Options, forwards and swaps are the most common derivative instruments we employ. See "Hedge." Discontinued operations Certain businesses we have sold or committed to sell within the next year and therefore will no longer be part of our ongoing operations. The net earnings, assets and liabilities, and cash flows of such businesses are separately classified on our Statement of Earnings and Statement of Financial Position for all periods presented. Ending Net Investment (ENI) The total capital we have invested in the financial services business. It is the sum of short-term borrowings, long-term borrowings and equity (excluding noncontrolling interests) adjusted for unrealized gains and losses on investment securities and hedging instruments. Alternatively, it is the amount of assets of continuing operations less the amount of non-interest bearing liabilities. Equipment leased to others Rental equipment we own that is available to rent and is stated at cost less accumulated depreciation. Fair value hedge Qualifying derivative instruments that we use to reduce the risk of changes in the fair value of assets, liabilities or certain types of firm commitments. Changes in the fair values of derivative instruments that are designated and effective as fair value hedges are recorded in earnings, but are offset by corresponding changes in the fair values of the hedged items. See "Hedge." Financing receivables Investment in contractual loans and financing leases due from customers (not investment securities). Goodwill The premium paid for acquisition of a business. Calculated as the purchase price less the fair value of net assets acquired (net assets are identified tangible and intangible assets, less liabilities assumed). Hedge A technique designed to eliminate risk. Often refers to the use of derivative financial instruments to offset changes in interest rates, currency exchange rates or commodity prices, although many business positions are "naturally hedged" - for example, funding a U.S. fixed-rate investment with U.S. fixed-rate borrowings is a natural interest rate hedge. 38 Glossary Term Definition Intangible asset A non-financial asset lacking physical substance, such as goodwill, patents, licenses, trademarks and customer relationships. Interest rate swap Agreement under which two counterparties agree to exchange one type of interest rate cash flow for another. In a typical arrangement, one party periodically will pay a fixed amount of interest, in exchange for which that party will receive variable payments computed using a published index. See "Hedge." Investment securities Generally, an instrument that provides an ownership position in a corporation (a stock), a creditor relationship with a corporation or governmental body (a bond), rights to contractual cash flows backed by pools of financial assets or rights to ownership such as those represented by options, subscription rights and subscription warrants. Managed receivables Total receivable amounts on which we continue to perform billing and collection activities, including receivables that have been sold with and without credit recourse and are no longer reported on our Statement of Financial Position. Net operating income Represents operating income less operating expenses for owned real estate properties. Retained interest A portion of a transferred financial asset retained by the transferor that provides rights to receive portions of the cash inflows from that asset. Securitization A process whereby loans or other receivables are packaged, underwritten and sold to investors. In a typical transaction, assets are sold to a special purpose entity, which purchases the assets with cash raised through issuance of beneficial interests (usually debt instruments) to third-party investors. Whether or not credit risk associated with the securitized assets is retained by the seller depends on the structure of the securitization. See "Variable interest entity." Variable interest entity (VIE) Entity defined by Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 810 (FASB Interpretation 46 (Revised)), and that must be consolidated by its primary beneficiary. A variable interest entity has one or both of the following characteristics: (1) its equity at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) as a group, the equity investors lack one or more of the following characteristics: (a) direct/indirect ability to make decisions, (b) obligation to absorb expected losses, or (c) right to receive expected residual returns. 39