GE Capital First quarter 2011 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: 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 conditions in the financial and credit markets on the availability and cost of General Electric Capital Corporation's (GECC) funding and on our ability to reduce GECC'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; changes in Japanese consumer behavior that may affect our estimates of liability for grey zone claims; 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 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 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. Prior period amounts have been recasted for discontinued operations. First quarter 2011 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 3. GE Capital asset quality a) Assets by region 9 b) Assets in selected emerging markets 10 c) Portfolio overview and ratios 11-18 d) Nonearning and nonaccrual financing receivables 19 e) Consumer allowance for losses on financing receivables 20 f) Consumer financing receivables by region 21 g) Consumer mortgage portfolio by country 22 h) Commercial allowance for losses on financing receivables 23 i) Real estate allowance for losses on financing receivables 24 j) Commercial real estate debt and equity overview 25-26 k) Equipment leased to others overview 27 l) Commercial aircraft asset details 28 4. GE Capital other key areas a) Investment securities 30 b) Investments measured at fair value in earnings 31 c) Ending net investment 32 d) GECC ratios 33 5. GECS supplemental information a) Investment securities 35 b) Funding 36 c) Ratios 37 6. Appendix a) Glossary 39-40 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, 2011 $ 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 20, 23-24) Depreciation and amortization Total costs and expenses 12,282 42 12,324 December 31, 2010 $ 11,826 44 11,870 For three months ending September 30, 2010 $ 11,179 40 11,219 June 30, 2010 $ March 31, 2010 11,744 168 11,912 $ 11,650 281 11,931 3,660 3,357 40 24 1,163 1,775 10,019 3,693 3,822 43 35 1,355 1,970 10,918 3,651 3,343 39 36 1,641 2,017 10,727 3,731 3,472 154 38 2,009 1,848 11,252 3,792 3,520 265 35 2,187 1,914 11,713 Earnings from continuing operations before income taxes Benefit (provision) for income taxes 2,305 (432) 952 120 492 358 660 85 218 360 Earnings from continuing operations (a) Earnings (loss) from discontinued operations, net of taxes 1,873 20 1,072 614 850 (1,065) 745 (124) 578 (363) Net earnings (loss) Less: Net earnings (loss) attributable to noncontrolling interests 1,893 31 1,686 25 (215) 18 621 (22) 215 (5) Net earnings (loss) attributable to GECC $ 1,862 $ 1,661 GECC - statement of changes in shareowner's equity March 31, 2011 (In millions) Changes in GECC shareowner's equity Balance at beginning of period Accounting changes (b) Dividends and other transactions with shareowner Other comprehensive income (loss) - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans $ $ (77) 1,542 (64) (1) 1,400 1,862 3,262 Increase / (decrease) from net earnings attributable to the Company Comprehensive income Balance at end of period 72,881 - December 31, 2010 $ 76,143 70,493 79 $ 72,881 $ For three months ending September 30, 2010 $ 202 172 271 3 648 1,661 2,309 $ (233) 69,823 (5) 70,493 $ June 30, 2010 $ 163 1,037 (278) (14) 908 (233) 675 $ 643 71,650 21 March 31, 2010 $ 41 (2,618) 63 23 (2,491) 643 (1,848) $ 69,823 220 73,718 (1,565) (9) 143 (1,312) 413 42 (714) 220 (494) $ 71,650 (a) Effective January 1, 2010, GE Capital 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 2009-16 & 17). 3 GECC - Condensed statement of financial position (In millions) Assets Cash and equivalents Investment securities (see page 30) Inventories Financing receivables - net (see pages 11 - 18) Other receivables Property, plant & equipment, less accumulated amortization of $25,132, $25,396, $25,887, $25,431, and $26,208 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, 2011 $ December 31, 2010 66,500 18,666 63 308,352 13,307 $ 59,544 17,952 66 317,734 13,678 September 30, 2010 $ 53,748 27,508 1,876 79,045 3,127 6,862 54,286 27,759 1,875 72,306 1,587 5,104 63,624 17,962 62 320,278 12,638 June 30, 2010 $ 53,415 27,246 2,094 82,077 786 15,978 March 31, 2010 59,412 15,208 71 322,054 12,428 $ 53,417 26,564 2,178 81,189 599 16,101 57,895 15,649 77 344,814 13,747 55,653 27,920 2,612 82,910 949 16,080 $ 569,805 $ 581,140 $ 596,160 $ 589,221 $ 618,306 $ 105,393 8,271 29,300 39,397 278,731 5,554 19,412 4,179 550 1,697 $ 113,646 6,839 30,060 37,298 284,346 5,779 20,429 6,200 592 1,906 $ 110,488 8,083 30,497 36,375 297,369 6,663 20,594 4,981 446 9,045 $ 115,729 7,897 33,411 31,938 288,854 7,430 19,544 5,183 261 8,053 $ 119,283 7,850 36,780 32,837 306,100 8,389 19,489 5,794 30 7,946 Total liabilities 492,484 507,095 524,541 518,300 544,498 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 (414) 1 (1,411) (381) 28,463 49,829 (337) (1,541) (1,347) (380) 28,463 47,967 (539) (1,713) (1,618) (383) 28,421 46,269 (702) (2,750) (1,340) (369) 28,421 46,507 (743) (132) (1,403) (392) 28,427 45,837 Total GECC shareowner's equity 76,143 72,881 70,493 69,823 71,650 1,178 1,164 1,126 1,098 2,158 77,321 74,045 71,619 70,921 73,808 Noncontrolling interests Total equity Total liabilities and equity $ 569,805 $ 581,140 $ 596,160 $ 589,221 $ 618,306 4 GECS - Condensed statement of earnings (In millions) Revenues Revenues from services Sales of goods Total revenues March 31, 2011 $ 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 20, 23-24) Depreciation and amortization Total costs and expenses 13,112 42 13,154 December 31, 2010 $ 12,741 44 12,785 For three months ending September 30, 2010 $ 12,032 40 12,072 June 30, 2010 $ March 31, 2010 12,596 168 12,764 $ 12,489 281 12,770 3,667 3,488 40 769 1,163 1,776 10,903 3,700 3,952 43 844 1,355 1,971 11,865 3,660 3,485 39 796 1,641 2,018 11,639 3,739 3,617 154 770 2,009 1,848 12,137 3,800 3,651 265 787 2,187 1,915 12,605 Earnings from continuing operations before income taxes Benefit (provision) for income taxes 2,251 (414) 920 132 433 378 627 110 165 345 Earnings from continuing operations Earnings (loss) from discontinued operations, net of taxes 1,837 19 1,052 614 811 (1,065) 737 (125) 510 (363) Net earnings (loss) Less: Net earnings (loss) attributable to noncontrolling interests 1,856 31 1,666 25 (254) 18 612 (22) 147 (5) Net earnings (loss) attributable to GECS $ 1,825 $ 1,641 GECS - statement of changes in shareowner's equity March 31, 2011 (In millions) Changes in GECS shareowner's equity Balance at beginning of period Accounting changes (a) Dividends and other transactions with shareowner Other comprehensive income (loss) - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans $ $ (188) 1,553 (70) (1) 1,294 1,825 3,119 Increase / (decrease) from net earnings attributable to the Company Comprehensive income Balance at end of period 68,984 1 December 31, 2010 $ 72,104 66,854 80 $ 68,984 $ For three months ending September 30, 2010 $ (22) 180 248 3 409 1,641 2,050 $ (272) 67,267 (5) 66,854 $ June 30, 2010 $ (906) 1,045 (261) (14) (136) (272) (408) $ 634 68,517 22 March 31, 2010 $ 632 (2,649) 88 23 (1,906) 634 (1,272) $ 67,267 152 70,833 (1,910) (12) 310 (1,311) 413 42 (546) 152 (394) $ 68,517 (a) March 31, 2010 reflects the impact of adoption of FAS 167 (ASU 2009-16 & 17). 5 GECS - Condensed statement of financial position (In millions) Assets Cash and equivalents Investment securities (see page 35) Inventories Financing receivables - net (see pages 11 - 18) Other receivables Property, plant & equipment, less accumulated amortization of $25,148, $25,411, $25,902, $25,446, and $26,223 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 36) Accounts payable Non-recourse borrowings of consolidated securitization entities (see page 36) Bank deposits (see page 36) Long-term borrowings (see page 36) 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, 2011 $ December 31, 2010 67,256 44,872 63 308,352 14,004 $ 60,263 43,921 66 317,734 14,310 September 30, 2010 $ 53,768 27,508 1,884 79,240 3,127 6,862 54,306 27,759 1,883 72,470 1,587 5,104 64,281 45,130 62 320,278 13,174 June 30, 2010 $ 53,435 27,246 2,103 82,312 786 15,978 March 31, 2010 59,771 41,491 71 322,054 12,962 $ 53,438 26,564 2,625 82,302 599 16,101 58,319 40,935 77 344,814 14,358 55,675 27,920 3,064 84,012 949 16,080 $ 597,656 $ 608,683 $ 624,785 $ 617,978 $ 646,203 $ 110,603 8,372 29,300 39,397 278,792 30,363 20,068 4,986 550 1,943 $ 118,797 7,035 30,060 37,298 284,407 29,993 21,122 7,082 592 2,149 $ 115,521 8,191 30,497 36,375 297,437 31,688 21,528 5,833 446 9,289 $ 120,725 8,039 33,411 31,938 288,922 31,015 20,452 6,555 261 8,295 $ 124,172 8,092 36,780 32,837 306,169 31,990 20,456 6,785 30 8,217 Total liabilities 524,374 538,535 556,805 549,613 575,528 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 (827) 142 (1,351) (381) 27,617 46,893 (639) (1,411) (1,281) (380) 27,616 45,068 (617) (1,591) (1,529) (383) 27,573 43,390 289 (2,636) (1,268) (369) 27,573 43,667 (343) 13 (1,356) (392) 27,578 43,006 Total GECS shareowner's equity 72,104 68,984 66,854 67,267 68,517 1,178 1,164 1,126 1,098 2,158 73,282 70,148 67,980 68,365 70,675 Noncontrolling interests Total equity Total liabilities and equity $ 597,656 $ 608,683 $ 624,785 $ 617,978 $ 646,203 6 GECC continuing operations (GE Capital) March 31, 2011 (In millions) Revenues Less: Interest expense Net revenues $ 12,324 (3,660) 8,664 December 31, 2010 $ 11,870 (3,693) 8,177 For three months ending September 30, 2010 $ 11,219 (3,651) 7,568 June 30, 2010 $ March 31, 2010 11,912 (3,731) 8,181 $ 11,931 (3,792) 8,139 Costs and expenses Selling, general and administrative Depreciation and amortization Operating and other expenses Total costs and expenses 2,693 1,775 728 5,196 2,916 1,970 984 5,870 2,578 2,017 840 5,435 2,649 1,848 1,015 5,512 2,674 1,914 1,146 5,734 Earnings before income taxes and provision for losses Less: Provision for losses on financing receivables 3,468 (1,163) 2,307 (1,355) 2,133 (1,641) 2,669 (2,009) 2,405 (2,187) Earnings before income taxes Benefit (provision) for income taxes 2,305 (432) 952 120 492 358 660 85 218 360 Earnings from continuing operations before noncontrolling interests Less: Net earnings (loss) attributable to noncontrolling interests $ 1,873 31 $ 1,072 25 $ 850 18 $ 745 (22) $ 578 (5) GE Capital segment profit $ 1,842 $ 1,047 $ 832 $ 767 $ 583 March 31, 2011 (In millions) Segment profit CLL Consumer Real Estate EFS GECAS $ $ GECC corporate items and eliminations GE Capital segment profit $ December 31, 2010 554 1,257 (358) 112 306 1,871 (29) $ 1,842 $ $ For three months ending September 30, 2010 567 565 (409) 33 432 1,188 (141) $ 1,047 $ $ June 30, 2010 443 787 (405) 55 158 1,038 (206) $ 832 $ $ March 31, 2010 312 672 (524) 126 288 874 (107) $ 767 $ 232 569 (403) 153 317 868 (285) $ 583 7 GE Capital asset quality 8 GE Capital - Assets by region (a) (In millions) March 31, 2011 Property, plant and equipment (net) Financing receivables (net) 144,367 $ U.S. Europe Western (including U.K.) Eastern Pacific Basin Americas (excluding U.S.) Other $ Total $ 308,352 $ 54,286 $ 564,701 Total at December 31, 2010 $ 317,734 $ 53,748 $ 574,278 Total at September 30, 2010 $ 320,278 $ 53,415 $ 580,182 Total at June 30, 2010 $ 322,054 $ 53,417 $ 573,120 Total at March 31, 2010 $ 344,814 $ 55,653 $ 602,226 80,446 19,156 29,187 21,776 13,420 10,438 Total assets $ 5,410 278 2,590 1,296 34,274 290,485 $ 108,912 28,067 51,501 32,725 53,011 At December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 Total assets Total assets Total assets Total assets 296,366 $ 109,939 29,004 52,687 32,738 53,544 $ 574,278 299,546 $ 111,888 29,675 52,795 32,848 53,430 $ 580,182 301,830 $ 106,001 27,515 51,116 33,224 53,434 $ 573,120 310,249 118,722 30,616 55,991 32,602 54,046 $ 602,226 (a) Excludes assets of discontinued operations. 9 GE Capital - Assets in selected emerging markets (In millions) Selected emerging markets (a) Eastern Europe Poland Czech Republic Hungary Turkey Total Eastern Europe Financing receivables (net) $ 9,190 5,641 3,329 18,160 March 31, 2011 Property, plant and equipment (net) $ 139 63 48 250 Total assets $ 13,202 7,553 4,576 440 25,771 $ At December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 Total assets Total assets Total assets Total assets 13,236 6,657 4,427 3,074 27,394 $ 13,058 7,304 4,115 3,077 27,554 $ 11,995 6,607 4,026 2,794 25,422 $ 13,274 7,636 4,625 2,801 28,336 Pacific Basin and Other India Thailand Total Pacific Basin and Other 1,256 60 1,316 15 15 1,789 1,636 3,425 1,777 1,621 3,398 1,771 1,554 3,325 1,758 1,456 3,214 2,225 1,455 3,680 Americas Mexico Total Americas 5,458 5,458 796 796 8,406 8,406 8,411 8,411 8,047 8,047 7,982 7,982 7,820 7,820 Total $ 24,934 $ 1,061 $ 37,602 Total at December 31, 2010 $ 24,524 $ 1,077 $ 39,203 Total at September 30, 2010 $ 24,513 $ 1,011 $ 38,926 Total at June 30, 2010 $ 23,351 $ 879 $ 36,618 Total at March 31, 2010 $ 26,024 $ 952 $ 39,836 $ 39,203 $ 38,926 $ 36,618 $ 39,836 (a) We have disclosed here selected emerging markets where our total assets at December 31, 2010, exceed $1 billion. Assets of discontinued operations are excluded. 10 GE Capital - CLL portfolio overview (In millions, unless otherwise noted) Balances March 31, 2011 CLL Americas Europe Asia Other Total $ $ 82,876 37,093 11,545 2,568 134,082 $ $ $ March 31, 2011 CLL Americas Europe Asia Other Total $ $ $ $ $ $ $ $ 2,777 1,095 429 7 4,308 $ $ 1,356 411 252 8 2,027 172 35 58 265 $ $ 314 71 56 1 442 $ $ 189 47 18 254 March 31, 2010 93,042 36,067 11,914 2,727 143,750 $ $ June 30, 2010 $ $ $ June 30, 2010 $ $ $ 3,210 1,126 467 26 4,829 March 31, 2010 1,362 382 234 8 1,986 $ 96,553 39,980 12,664 2,791 151,988 March 31, 2010 3,076 902 422 24 4,424 $ Write-offs (net) - for three months ending December 31, September 30, 2010 2010 March 31, 2011 CLL Americas Europe Asia Other Total 1,287 429 222 7 1,945 $ $ 89,769 36,969 12,192 2,651 141,581 Allowance for losses (c) September 30, 2010 December 31, 2010 1,254 443 228 6 1,931 $ 2,571 1,241 406 8 4,226 $ $ June 30, 2010 Nonearning receivables (b) September 30, 2010 December 31, 2010 2,395 1,209 346 8 3,958 $ 86,596 37,498 11,943 2,626 138,663 $ March 31, 2011 CLL Americas Europe Asia Other Total Financing receivables (a) September 30, 2010 December 31, 2010 $ $ June 30, 2010 1,319 484 236 12 2,051 March 31, 2010 256 128 39 423 $ $ 247 132 46 425 (a) Financing receivables include impaired loans of $5,514 million at March 31, 2011. (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 on 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) 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. 11 GE Capital - CLL portfolio overview Ratios Nonearning receivables as a percent of financing receivables (a) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 CLL Americas Europe Asia Other Total 2.9 % 3.3 3.0 0.3 3.0 52.4 % 36.6 65.9 75.0 48.8 48.8 % 37.5 58.7 114.3 47.1 1.5 % 1.1 1.9 0.3 1.4 0.8 % 0.4 2.0 NM 0.8 44.3 % 42.4 55.5 33.3 44.9 1.5 % 1.1 2.1 0.3 1.4 March 31, 2011 1.4 % 0.8 1.9 0.2 1.3 2.03 % 2.14 % 2.40 % 41.1 % 43.0 50.5 46.2 42.5 March 31, 2010 1.5 % 1.1 2.0 0.3 1.4 0.8 % 0.5 0.6 NM 0.7 CLL September 30, 2010 December 31, 2010 3.3 % 2.8 3.7 0.9 3.2 March 31, 2010 Write-offs as a percent of financing receivables (c) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Delinquency 50.1 % 34.6 54.7 87.5 46.0 1.5 % 1.2 2.0 0.2 1.4 CLL Americas Europe Asia Other Total 3.3 % 2.5 3.5 0.9 3.1 Allowance for losses as a percent of total financing receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 CLL Americas Europe Asia Other Total 3.1 % 3.0 3.5 0.3 3.0 Allowance for losses as a percent of nonearning receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 CLL Americas Europe Asia Other Total 3.0 % 3.3 3.4 0.3 3.0 March 31, 2010 1.4 % 1.2 1.9 0.4 1.3 March 31, 2010 1.1 % 1.3 1.3 NM 1.1 June 30, 2010 1.0 % 1.3 1.4 NM 1.1 March 31, 2010 2.58 % 2.77 % (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 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 on 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) 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. (c) 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. 12 GE Capital - Portfolio overview (In millions, unless otherwise noted) Balances March 31, 2011 EFS GECAS Other $ 6,662 12,104 1,640 $ March 31, 2011 EFS GECAS Other $ 162 16 99 $ $ 36 12 55 $ $ $ 7,291 12,227 2,087 June 30, 2010 $ Nonearning receivables (b) September 30, 2010 62 102 $ 163 90 22 20 58 $ 85 25 53 $ 71 6 $ - $ 7,854 12,615 2,445 March 31, 2010 77 77 105 $ June 30, 2010 80 77 100 March 31, 2010 $ $ 7 - 7,472 12,337 2,272 $ Write-offs (net) - for three months ending December 31, September 30, 2010 2010 4 8 March 31, 2010 June 30, 2010 Allowance for losses (c) September 30, 2010 December 31, 2010 March 31, 2011 EFS GECAS Other 7,011 12,615 1,788 December 31, 2010 March 31, 2011 EFS GECAS Other Financing receivables (a) September 30, 2010 December 31, 2010 53 50 50 $ June 30, 2010 47 54 46 March 31, 2010 - $ 18 - 71 2 (a) Financing receivables include $162 million, $114 million and $186 million of impaired loans at EFS, GECAS, and Other, respectively, at March 31, 2011. (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 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 on 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) 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. 13 GE Capital - Portfolio overview Ratios Nonearning receivables as a percent of financing receivables (a) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 EFS GECAS Other 2.4 % 0.1 6.0 22.2 % 75.0 55.6 0.5 % 0.1 3.4 35.5 % 56.9 52.1 % 58.9 0.3 % 0.2 3.2 1.2 % 0.2 2.5 0.2 % 1.9 4.0 % NM 1.2 NM % 0.2 NM 1.0 % 0.6 4.1 March 31, 2010 68.8 % 64.9 47.6 58.8 % 70.1 46.0 March 31, 2010 0.7 % 0.4 2.2 Write-offs as a percent of financing receivables (c) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 EFS GECAS Other 1.0 % 0.6 4.6 Allowance for losses as a percent of total financing receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 EFS GECAS Other 2.2 % 4.3 Allowance for losses as a percent of nonearning receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 EFS GECAS Other 0.9 % 5.7 March 31, 2010 0.6 % 0.4 1.9 March 31, 2010 NM % 0.6 NM NM % 2.2 0.3 (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) 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. (c) 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 March 31, 2011 Real Estate Debt (b) Business Properties Total $ $ 29,474 9,548 39,022 $ $ $ Real Estate Debt Business Properties Total $ $ $ $ $ $ 1,037 388 1,425 $ $ 1,649 208 1,857 240 40 280 $ $ 332 33 365 $ $ 195 27 222 March 31, 2010 33,388 10,618 44,006 $ $ $ June 30, 2010 $ $ $ June 30, 2010 $ $ $ 1,332 416 1,748 March 31, 2010 1,590 207 1,797 $ 35,432 12,154 47,586 March 31, 2010 1,211 407 1,618 $ Write-offs (net) - for three months ending December 31, September 30, 2010 2010 March 31, 2011 Real Estate Debt Business Properties Total $ 1,292 196 1,488 $ 32,167 10,314 42,481 Allowance for losses (d) September 30, 2010 December 31, 2010 1,118 181 1,299 $ $ 961 386 1,347 $ March 31, 2011 $ June 30, 2010 Nonearning receivables (c) September 30, 2010 December 31, 2010 769 368 1,137 $ 30,249 9,962 40,211 $ March 31, 2011 Real Estate Debt Business Properties Total Financing receivables (a) September 30, 2010 December 31, 2010 $ $ June 30, 2010 1,372 185 1,557 March 31, 2010 157 28 185 $ $ 152 36 188 (a) Financing receivables include $10,450 million of impaired loans at Real Estate at March 31, 2011. (b) Financing receivables include $183 million of construction loans at March 31, 2011. (c) 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 on 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. (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. 15 GE Capital - Portfolio overview Ratios Nonearning receivables as a percent of financing receivables (a) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Real Estate Debt Business Properties Total 2.6 % 3.9 2.9 145.4 % 49.2 114.2 159.0 % 53.6 130.0 4.3 % 2.0 3.7 3.2 % 1.6 2.8 131.0 % 50.9 111.1 5.1 % 2.0 4.4 March 31, 2011 4.3 % 1.3 3.5 December 31, 2010 4.08 % 4.41 % 5.74 % 103.0 % 44.5 89.1 March 31, 2010 4.8 % 1.9 4.1 3.9 % 1.5 3.3 March 31, 2010 1.8 % 1.0 1.6 2.4 % 1.0 2.1 Real Estate September 30, 2010 3.8 % 3.4 3.7 March 31, 2010 Write-offs as a percent of financing receivables (c) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Delinquency 134.4 % 50.8 110.5 3.8 % 1.9 3.3 Real Estate Debt Business Properties Total 3.6 % 3.8 3.7 Allowance for losses as a percent of total financing receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Real Estate Debt Business Properties Total 3.2 % 3.8 3.4 Allowance for losses as a percent of nonearning receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Real Estate Debt Business Properties Total 3.2 % 3.9 3.3 March 31, 2010 June 30, 2010 1.7 % 1.4 1.6 March 31, 2010 5.40 % 4.97 % (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 on 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) 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. (c) 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 - Consumer portfolio overview (In millions, unless otherwise noted) Balances March 31, 2011 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 $ $ December 31, 2010 45,436 20,235 41,282 7,295 8,231 122,479 $ $ March 31, 2011 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 $ December 31, 2010 3,927 295 1,004 41 462 5,729 $ $ $ December 31, 2010 842 930 2,141 152 239 4,304 $ $ $ $ 828 937 2,333 168 259 4,525 $ $ $ 45,860 20,966 40,052 8,155 8,488 123,521 June 30, 2010 $ $ Nonearning receivables (b) September 30, 2010 $ $ 4,030 316 1,144 40 481 6,011 $ 896 974 2,551 198 244 4,863 55 183 777 36 61 1,112 $ $ 121 251 891 13 70 1,346 $ $ 77 243 853 42 59 1,274 44,582 20,046 40,077 8,124 8,248 121,077 $ $ $ $ $ June 30, 2010 $ $ $ 4,153 392 1,445 56 509 6,555 March 31, 2010 867 954 2,635 223 246 4,925 $ 49,281 22,505 40,320 10,062 9,425 131,593 March 31, 2010 3,985 371 1,223 48 460 6,087 $ Allowance for losses (c) September 30, 2010 $ March 31, 2010 June 30, 2010 Write-offs (net) - for three months ending December 31, September 30, 2010 2010 March 31, 2011 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 3,812 289 1,201 46 478 5,826 $ March 31, 2011 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 45,536 20,132 43,974 7,558 8,304 125,504 Financing receivables (a) September 30, 2010 $ $ June 30, 2010 888 1,071 2,974 281 300 5,514 March 31, 2010 58 298 1,014 54 85 1,509 $ $ 75 355 1,073 46 91 1,640 (a) Financing receivables include impaired loans of $2,687 million at March 31, 2011. (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 on 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) 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. 17 GE Capital - Consumer portfolio overview Ratios Nonearning receivables as a percent of financing receivables (a) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 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 8.6 % 1.5 2.4 0.6 5.6 4.7 21.4 % 315.3 213.2 370.7 51.7 75.1 22.2 % 308.2 223.0 495.0 50.7 80.9 1.8 % 4.7 5.3 2.2 3.1 3.6 0.5 % 3.6 7.3 1.9 3.0 3.6 % 21.8 % 257.1 215.5 464.6 53.5 80.9 2.0 % 4.6 6.4 2.4 2.9 3.9 March 31, 2011 1.1 % 4.9 8.5 0.7 3.3 4.3 % 8.07 % 8.20 % 8.65 % 21.4 % 273.2 205.8 501.8 58.9 84.1 March 31, 2010 1.9 % 4.8 6.6 2.7 3.0 4.1 0.7 % 4.7 8.5 2.1 2.8 4.2 % Consumer September 30, 2010 December 31, 2010 8.4 % 1.7 3.6 0.6 5.4 5.0 March 31, 2010 Write-offs as a percent of financing receivables (c) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 Delinquency 21.7 % 324.2 194.3 365.2 54.2 77.7 1.9 % 4.6 5.2 2.1 2.9 3.5 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 8.9 % 1.9 3.1 0.6 5.6 5.0 Allowance for losses as a percent of total financing receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 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 8.8 % 1.5 2.9 0.5 5.7 4.9 Allowance for losses as a percent of nonearning receivables (b) December 31, September 30, June 30, 2010 2010 2010 March 31, 2011 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 8.4 % 1.4 2.7 0.6 5.8 4.6 March 31, 2010 1.8 % 4.8 7.4 2.8 3.2 4.2 March 31, 2010 0.5 % 5.6 10.1 2.4 3.8 4.8 % June 30, 2010 0.6 % 6.2 14.2 1.7 3.7 5.2 % March 31, 2010 9.01 % 9.06 % (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 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 on 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) 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. (c) 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. 18 GE Capital - Nonearning and nonaccrual financing receivables ($ millions) March 31, 2011 Commercial CLL EFS GECAS Other Total Commercial Nonearning financing receivables (a) Nonaccrual financing receivables (b) $ $ 3,958 162 16 99 4,235 5,080 162 16 184 5,442 Real Estate 1,137 10,308 Consumer 5,729 6,036 Total $ 11,101 $ 21,786 (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 on 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) "Nonaccrual receivables" are those on which we have stopped accruing interest. We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due. Total nonaccrual receivables of $21.8 billion includes $11.1 billion classified as nonearning receivables. Substantially all of this difference relates to loans which are classified as nonaccrual receivables but are paying on a cash basis, and therefore are excluded from nonearning receivables. 19 GE Capital - Consumer allowance for losses on financing receivables (In millions) 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 Consumer (In millions) 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 Consumer Provision charged to operations Balance January 1, 2011 Balance December 31, 2009 Other (b) Gross writeoffs Balance March 31, 2011 Recoveries $ 828 937 2,333 168 259 $ 44 153 585 15 37 $ 25 23 5 4 $ (74) (327) (913) (68) (86) $ 19 144 136 32 25 $ 842 930 2,141 152 239 $ 4,525 $ 834 $ 57 $ (1,468) $ 356 $ 4,304 Provision charged to operations Balance January 1, 2010 Adoption of ASU 2009-16 & 17 (a) Other (b) Gross writeoffs Balance March 31, 2010 Recoveries $ 926 1,106 1,551 292 292 $ 1,602 - $ 926 1,106 3,153 292 292 $ 103 325 895 44 108 $ (66) (5) (1) (9) (9) $ (101) (507) (1,199) (92) (110) $ 26 152 126 46 19 $ 888 1,071 2,974 281 300 $ 4,167 $ 1,602 $ 5,769 $ 1,475 $ (90) $ (2,009) $ 369 $ 5,514 (a) On January 1, 2010, we adopted ASU 2009-16 & 17, amendments to ASC 810, Consolidation, that required us to consolidate the allowance for losses of VIEs consolidated on January 1, 2010. (b) Other primarily included the effects of currency exchange. 20 GE Capital - Consumer financing receivables by region (In millions) March 31, 2011 Installment and revolving credit Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at March 31, 2011 $ - $ 31,313 8,373 5,249 74 427 September 30, 2010 45,436 $ Total at September 30, 2010 $ - $ March 31, 2010 $ $ Total at March 31, 2010 $ - $ $ 40,052 61,018 $ 40,320 7,295 $ 62,825 $ $ 8,155 $ - $ $ 939 $ 8,488 40,991 46,833 19,194 14,342 1,632 529 $ 123,521 December 31, 2010 Installment and revolving credit Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at December 31, 2010 $ - $ 31,100 8,108 5,774 105 449 June 30, 2010 45,536 $ Total at June 30, 2010 $ - $ 64,106 $ 40,077 $ 60,123 $ 7,558 $ - $ $ 8,304 8,124 $ 125,504 Total 987 $ 3,017 3,932 312 $ 44,851 46,186 19,249 14,411 326 481 Other (a) 5,075 1,315 1,726 8 $ Total 877 2,853 4,321 253 - Auto $ 7,060 5,255 6,016 1,641 74 $ Other (a) 4,700 1,341 1,516 1 Installment and revolving credit 30,426 7,247 6,233 176 500 44,582 Auto $ 7,533 5,479 6,868 221 31 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 43,974 8,248 41,064 45,578 17,749 14,287 1,817 582 $ 121,077 Total 924 $ 3,632 4,529 340 $ 122,479 Total Other (a) 10,062 42,131 46,359 19,697 13,565 280 447 2,971 4,283 295 - 6,051 1,572 2,326 88 25 $ 8,231 $ Auto $ 849 Other (a) - $ Total 2,736 4,432 214 - 5,112 1,389 1,647 7 8,009 6,145 6,483 1,762 106 $ $ Auto Installment and revolving credit 33,074 8,054 7,376 228 549 49,281 - 7,433 5,565 6,421 1,493 54 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 61,517 Other (a) 4,645 1,328 1,320 2 Installment and revolving credit 31,317 7,957 5,979 139 468 45,860 $ 7,665 5,564 6,782 206 18 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 41,282 Auto 9,425 41,243 50,766 20,300 16,525 2,078 681 $ 131,593 (a) Represents mainly small and medium enterprise loans. 21 GE Capital - Consumer mortgage portfolio by country (a) (In millions) Financing receivables March 31, 2011 As a % of total Nonearning receivables Delinquent more than 30 days Financing receivables December 31, 2010 As a % of total Nonearning receivables Delinquent more than 30 days U.K. (b) (d) Australia France (d) Poland Spain Hungary All other $ 18,574 4,438 9,497 5,854 1,061 1,091 4,921 40.9 % 9.8 20.9 12.9 2.3 2.4 10.8 13.7 % 1.9 3.1 1.0 17.3 10.0 12.9 20.3 % 12.3 3.6 2.1 28.1 14.8 14.5 U.K. Australia France Poland Spain Hungary All other $ 18,487 4,891 9,379 5,694 1,047 1,054 4,984 40.6 % 10.7 20.6 12.5 2.3 2.3 11.0 13.7 % 1.5 2.9 0.9 15.0 9.2 12.9 21.7 % 10.2 3.6 2.0 25.5 14.4 13.6 Total at March 31, 2011 (c) $ 45,436 100.0 % 8.6 % 13.1 % Total at December 31, 2010 $ 45,536 100.0 % 8.4 % 13.3 % Financing receivables September 30, 2010 As a % of total Nonearning receivables Delinquent more than 30 days Financing receivables June 30, 2010 As a % of total Nonearning receivables Delinquent more than 30 days U.K. Australia France Poland Spain Hungary All other $ 18,858 5,081 9,302 5,545 1,074 1,020 4,980 41.1 % 11.1 20.3 12.1 2.3 2.2 10.9 15.0 % 1.2 2.4 0.9 18.1 8.4 11.9 23.4 % 9.9 3.5 2.0 27.4 13.6 12.8 U.K. Australia France Poland Spain Hungary All other $ 18,327 5,253 9,015 5,007 1,053 929 4,998 41.1 % 11.8 20.2 11.2 2.4 2.1 11.2 15.9 % 1.3 2.1 0.9 19.3 7.0 9.7 24.9 % 9.9 3.4 1.9 29.4 12.0 12.1 Total at September 30, 2010 $ 45,860 100 % 8.8 % 14.0 % Total at June 30, 2010 $ 44,582 100.0 % 8.9 % 14.6 % Financing receivables March 31, 2010 As a % of total Nonearning receivables Delinquent more than 30 days U.K. Australia France Poland Spain Hungary All other $ 19,236 6,328 10,280 5,518 1,211 1,025 5,683 39.0 % 12.8 20.9 11.2 2.5 2.1 11.5 16.1 % 1.1 2.0 0.8 20.3 6.1 7.3 24.4 % 8.7 3.2 1.8 29.4 10.0 11.8 Total at March 31, 2010 $ 49,281 100.0 % 8.4 % 13.8 % (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, 2011, we had in repossession stock approximately 650 houses in the U.K., which had a value of approximately $0.1 billion. (c) At March 31, 2011, 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 (greater than 90%); 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 15% and have a loan-to-value ratio at origination of 76%. At March 31, 2011, 4% (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 84% and 58%, respectively. 22 GE Capital - Commercial allowance for losses on financing receivables Provision charged to operations Balance January 1, 2011 (In millions) CLL Americas Europe Asia Other $ 1,287 429 222 7 $ Gross write-offs Other (a) 139 30 60 - $ 19 4 (1) $ Balance March 31, 2011 Recoveries (194) (51) (69) - $ 22 16 11 - $ 1,254 443 228 6 EFS 22 19 (1) (4) - 36 GECAS 20 (8) - - - 12 Other 58 4 1 (8) - 55 Total Commercial (In millions) CLL Americas Europe Asia Other $ Balance December 31, 2009 $ 1,179 575 244 11 EFS $ 66 (10) - $ 244 $ Provision charged to operations Balance January 1, 2010 Adoption of ASU 2009-16 & 17 (b) $ 2,045 1,245 575 234 11 $ 22 $ Gross write-offs Other (a) 325 72 50 1 $ (326) (4) (31) (2) - $ $ 49 $ Balance March 31, 2010 Recoveries (282) (147) (50) - $ 2,034 35 15 4 - $ 1,319 484 236 12 28 - 28 19 - - - 47 GECAS 104 - 104 21 - (71) - 54 Other 34 - 34 13 1 (2) - 46 Total Commercial $ 2,175 $ 56 $ 2,231 $ 501 $ (36) $ (552) $ 54 $ 2,198 (a) Other primarily included the effects of currency exchange. (b) On January 1, 2010, we adopted ASU 2009-16 & 17, amendments to ASC 810, Consolidation, that required us to consolidate the allowance for losses of VIEs consolidated on January 1, 2010. 23 GE Capital - Real Estate allowance for losses on financing receivables Provision charged to operations Balance January 1, 2011 (In millions) Gross write-offs Other (a) Balance March 31, 2011 Recoveries Real Estate Debt Business Properties $ 1,292 196 $ 59 26 $ 7 (1) $ (243) (42) $ 3 2 $ 1,118 181 Total Real Estate $ 1,488 $ 85 $ 6 $ (285) $ 5 $ 1,299 Balance December 31, 2009 Adoption of ASU 200916 & 17 (b) Real Estate Debt Business Properties $ 1,358 136 $ Total Real Estate $ 1,494 $ (In millions) Provision charged to operations Balance January 1, 2010 (3) 45 $ 42 $ 1,355 181 $ 1,536 $ Gross write-offs Other (a) 170 41 $ 211 $ (1) (1) $ (2) $ Balance March 31, 2010 Recoveries (152) (37) $ (189) $ - $ 1,372 185 $ 1,557 1 1 (a) Other primarily included the effects of currency exchange. (b) On January 1, 2010, we adopted ASU 2009-16 & 17, amendments to ASC 810, Consolidation, that required us to consolidate the allowance for losses of VIEs consolidated on January 1, 2010. 24 GE Capital - Real Estate debt overview (In millions) March 31, 2011 Region December 31, 2010 Financing receivables September 30, 2010 June 30, 2010 March 31, 2010 U.S. Europe Pacific Basin Americas $ 24,778 4,468 3,032 6,744 $ 25,989 4,515 2,991 6,716 $ 27,628 4,719 2,974 7,160 $ 28,804 4,700 3,001 7,501 $ 30,505 5,103 3,135 8,843 Total (a) $ 39,022 $ 40,211 $ 42,481 $ 44,006 $ 47,586 March 31, 2011 Vintage profile Originated in pre-2008 2008 2009 2010 2011 Total March 31, 2011 Property type December 31, 2010 Financing receivables September 30, 2010 June 30, 2010 March 31, 2010 Office buildings Owner occupied Apartment buildings Hotel properties Warehouse properties Retail facilities Mixed use Parking facilities Other $ 9,210 9,548 5,825 4,351 3,435 3,581 1,110 123 1,839 $ 9,354 9,962 6,151 4,404 3,480 3,650 1,159 122 1,929 $ 10,028 10,314 6,467 4,683 3,775 3,937 1,192 121 1,964 $ 10,201 10,620 7,010 4,911 3,966 3,981 1,225 120 1,972 $ 10,923 12,227 7,418 5,117 4,231 4,229 1,304 124 2,013 Total (a) $ 39,022 $ 40,211 $ 42,481 $ 44,006 $ 47,586 March 31, 2011 Contractual maturities $ 24,536 13,696 143 591 56 Due in 2011 and prior (b) 2012 2013 2014 2015 and later $ 39,022 Total $ 10,767 8,262 4,105 3,347 12,541 $ 39,022 (a) Represents total gross financing receivables for Real Estate only. (b) Includes $1,058 million relating to loans with contractual maturities prior to March 31, 2011. 25 GE Capital - Real Estate equity overview (a) (In millions, unless otherwise noted) March 31, 2011 Region Equity September 30, 2010 December 31, 2010 June 30, 2010 March 31, 2010 U.S. Europe Pacific Basin Americas $ 9,138 9,277 7,131 2,940 $ 9,041 9,750 7,155 2,923 $ 9,254 9,905 7,327 2,927 $ 9,446 9,477 7,177 2,999 $ 9,531 10,864 7,523 3,053 Total $ 28,486 $ 28,869 $ 29,413 $ 29,099 $ 30,971 March 31, 2011 Vintage profile (e) Originated in pre-2008 2008 2009 2010 2011 Total $ $ 25,643 2,025 145 398 275 28,486 March 31, 2011 Property type Equity September 30, 2010 December 31, 2010 June 30, 2010 March 31, 2010 Office buildings Apartment buildings Warehouse properties Retail facilities Mixed use Parking facilities Owner occupied Hotel properties Other $ 14,811 4,259 3,409 2,308 1,170 811 605 402 711 $ 14,537 4,359 3,465 2,859 1,126 814 695 338 676 $ 14,695 4,340 3,579 2,803 1,459 817 724 334 662 $ 14,406 4,204 3,617 2,758 1,468 819 733 341 753 $ 15,602 4,334 3,775 2,993 1,622 824 745 347 729 Total $ 28,486 $ 28,869 $ 29,413 $ 29,099 $ 30,971 March 31, 2011 Key metrics Owned real estate (b) $ Net operating income (annualized) Net operating income yield (c) $ End of period vacancies (d) Foreclosed properties (f) December 31, 2010 24,616 $ 1,382 $ 5.5 % 20.6 % $ 601 25,187 September 30, 2010 $ 1,453 $ 5.7 % 20.0 % $ 629 25,549 June 30, 2010 $ 1,384 $ 5.5 % 21.0 % $ 708 March 31, 2010 25,127 $ 1,463 $ 5.6 % 20.7 % $ 714 26,915 1,488 5.4 % 20.6 % $ 718 (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. (f) Excludes foreclosed properties related to loans acquired at a discount with an expectation to foreclose. 26 GE Capital - Equipment leased to others (ELTO), net of depreciation and amortization overview (In millions) March 31, 2011 Collateral type CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ Total at March 31, 2011 $ September 30, 2010 Collateral type GECAS 3,141 9,246 2,917 1,434 2,045 1,108 $ 19,891 $ CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ Total at September 30, 2010 $ March 31, 2010 Collateral type EFS 32,144 - $ 32,144 $ GECAS 3,469 8,783 3,008 1,402 1,893 1,125 $ 19,680 $ CLL 886 $ 886 $ EFS 30,842 - $ 30,842 $ GECAS Total Consumer $ 5 2 6 13 $ $ 1,198 $ - $ 6 2 6 14 $ CLL 35,285 9,251 2,917 1,436 2,045 2,000 Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ 52,934 Total at December 31, 2010 $ Total Consumer 1,198 EFS - December 31, 2010 Collateral type June 30, 2010 Collateral type GECAS 3,130 9,072 2,960 1,452 1,924 927 $ 19,465 $ CLL 34,311 8,789 3,008 1,404 1,893 2,329 Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ 51,734 Total at June 30, 2010 $ EFS 31,535 - $ 31,535 $ GECAS 3,025 9,128 3,073 1,549 1,839 1,073 $ 19,687 $ Consumer 1,089 $ 1,089 $ $ 30,818 $ Total $ 34,665 9,077 2,960 1,454 1,924 2,023 $ 52,103 5 2 7 EFS 30,818 - - 14 Consumer 1,217 $ 1,217 $ - Total $ 33,843 9,135 3,073 1,549 1,840 2,298 $ 51,738 7 1 8 16 Total Consumer Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ 3,179 10,256 2,870 1,687 1,801 979 $ 30,207 - $ 1,232 $ 10 1 2 14 $ 33,386 10,266 2,870 1,688 1,803 2,225 Total at March 31, 2010 $ 20,772 $ 30,207 $ 1,232 $ 27 $ 52,238 27 GE Capital - Commercial aircraft asset details March 31, 2011 Collateral type (In millions) December 31, 2010 Loans and leases September 30, 2010 June 30, 2010 March 31, 2010 Narrow-body aircraft Wide-body aircraft Cargo Regional jets Engines $ 24,959 8,399 3,287 5,166 2,317 $ 24,750 8,233 3,405 5,260 2,380 $ 23,083 8,249 3,855 5,322 2,441 $ 23,040 7,763 4,211 5,521 2,509 $ 22,692 9,044 2,899 5,601 2,467 Total (a) $ 44,128 $ 44,028 $ 42,950 $ 43,044 $ 42,703 March 31, 2011 Airline regions (In millions) December 31, 2010 Loans and leases September 30, 2010 June 30, 2010 March 31, 2010 U.S. Europe Pacific Basin Americas Other $ 14,573 9,484 8,278 5,507 6,286 $ 15,123 9,258 8,113 5,313 6,221 $ 14,659 9,290 7,791 5,258 5,952 $ 14,456 9,527 7,769 5,814 5,478 $ 14,321 9,552 7,657 5,882 5,291 Total (a) $ 44,128 $ 44,028 $ 42,950 $ 43,044 $ 42,703 March 31, 2011 Aircraft vintage profile (In millions) 0-5 years 6-10 years 11 - 15 years 15+ years $ 18,317 14,396 5,055 4,043 Total (b) $ 41,811 (a) Includes loans and financing leases of $12,104 million, $12,615 million, $12,227 million, $12,337 million, and $12,615 million (less non-aircraft loans and financing leases of $120 million, $122 million, $119 million, $111 million, and $119 million) and ELTO of $32,144 million, $31,535 million, $30,842 million, $30,818 million, and $30,207 million, at March 31, 2011, December 31, 2010, September 30, 2010, June 30, 2010, and March 31, 2010, respectively, related to commercial aircraft at GECAS. (b) Excludes aircraft engine loans and leases of $2,317 million at March 31, 2011. 28 GE Capital other key areas 29 GE Capital - Investment securities (In millions) Debt U.S. corporate State and municipal Residential mortgage-backed (a) Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency Amortized cost $ Retained interests 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 $ 3,305 912 2,004 1,564 3,417 1,436 2,347 2,549 $ 117 5 13 38 50 7 2 $ (10) (225) (315) (151) (141) (94) (61) (9) Estimated fair value $ 3,412 692 1,702 1,413 3,314 1,392 2,293 2,542 Amortized cost $ $ Equity $ 3,490 918 2,099 1,619 3,242 1,478 1,804 2,663 At December 31, 2010 Gross Gross unrealized unrealized gains losses $ 169 4 14 7 39 8 3 34 21 (3) 52 55 10 1,264 418 200 - (28) - 1,436 418 902 417 194 - 19,250 $ 453 $ (1,037) $ 18,666 $ At March 31, 2011 - 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, 2011 Gross Gross unrealized unrealized gains losses 232 137 306 758 52 153 1,022 1,837 $ (5) (16) (4) (91) (2) (1) (5) (9) $ 247 446 905 654 892 729 147 - $ (5) (209) (311) (60) (139) (93) (56) - - - 6 (3) 73 (25) 10 (3) 4,570 $ (158) $ 4,036 $ (879) 18,687 $ 448 $ (14) (232) (355) (183) (190) (111) (58) (5) Estimated fair value $ (26) 39 (9) 1,087 417 $ 3,645 690 1,758 1,436 3,059 1,406 1,754 2,661 (1,183) $ 17,952 At December 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 $ 357 137 166 779 111 123 642 1,613 $ - 3,974 $ 337 443 920 652 902 673 105 - - 46 $ (5) (16) (3) (103) (5) (2) (6) (5) 34 (9) $ $ (154) (26) $ 4,066 (9) (216) (352) (80) (185) (109) (52) - $ (1,029) (a) Substantially collateralized by U.S. mortgages. 30 GE Capital - Investments measured at fair value in earnings (a) Asset balances at March 31, 2011 Investment type (In millions) Equities - trading $ December 31, 2010 418 $ 417 Net earnings impact for three months ending March 31, 2011 $ (7) Assets held for sale (LOCOM) 2,041 3,538 (4) Assets of businesses held for sale (LOCOM) 1,587 3,127 8 422 390 (44) Investment companies Total $ 4,468 $ 7,472 $ (47) (a) Excludes derivatives portfolio. 31 GE Capital - Ending Net Investment (ENI) March 31, 2011 (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 December 31, 2010 569.8 $ $ 596.2 June 30, 2010 $ 589.2 March 31, 2010 $ 618.3 (5.1) (6.9) (16.0) (16.1) (16.1) (36.9) (38.9) (39.5) (39.2) (41.5) 527.8 $ (66.5) $ 581.1 September 30, 2010 461.3 535.3 $ (59.5) $ 475.8 540.7 $ (63.6) $ 477.1 533.9 $ (59.4) $ 474.5 560.7 (57.9) $ 502.8 32 GECC - Ratios (a) Leverage ratio (In billions) Debt Equity (b) March 31, 2011 $ Leverage ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt December 31, 2010 452.8 76.1 $ 465.4 72.9 5.9:1 $ 452.8 (7.7) (66.6) 378.5 September 30, 2010 $ 6.4:1 $ 465.4 (7.7) (59.7) 398.0 481.4 70.5 June 30, 2010 $ 476.6 69.8 6.8:1 $ 481.4 (7.7) (65.4) 408.3 March 31, 2010 $ 6.8:1 $ 476.6 (7.7) (61.2) 407.7 501.7 71.7 7.0:1 $ 501.7 (7.7) (59.6) 434.4 Equity (b) Add: hybrid debt Adjusted equity 76.1 7.7 83.8 72.9 7.7 80.6 70.5 7.7 78.2 69.8 7.7 77.5 71.7 7.7 79.4 Adjusted leverage ratio 4.5:1 4.9:1 5.2:1 5.3:1 5.5:1 Tangible common equity to tangible assets ratio (In billions) March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 Total equity (b) Less: Goodwill and other intangibles $ 76.1 (29.6) $ 72.9 (29.5) $ 70.5 (30.1) $ 69.8 (29.5) $ 71.7 (31.3) Tangible common equity $ 46.5 $ 43.4 $ 40.4 $ 40.3 $ 40.4 Total assets Less: Goodwill and other intangibles $ 569.8 (29.6) $ 581.1 (29.5) $ 596.1 (30.1) $ 589.2 (29.5) $ 618.2 (31.3) Tangible assets $ 540.2 $ 551.6 $ 566.0 $ 559.7 $ 586.9 Tangible common equity to tangible assets 8.6 % 7.9 % 7.1 % 7.2 % 6.9 % Tier 1 common ratio (c) 9.8 % 8.9 % 8.2 % 8.1 % 7.8 % (a) Includes discontinued operations. (b) Equity represents amounts available to GECC shareholders, excluding noncontrolling interests. (c) Estimated based on SCAP requirements. 33 GECS supplemental information 34 GECS - Investment securities (In millions) Debt U.S. corporate State and municipal Residential mortgage-backed (a) Commercial mortgage-backed Asset-backed Corporate - non-U.S. Government - non-U.S. U.S. government and federal agency At March 31, 2011 Gross Gross unrealized unrealized losses gains Amortized cost $ 21,093 3,053 2,976 2,941 3,560 2,817 2,823 3,250 $ 1,538 52 104 143 47 124 75 53 $ (156) (262) (333) (177) (143) (109) (62) (59) Estimated fair value $ 22,475 2,843 2,747 2,907 3,464 2,832 2,836 3,244 Amortized cost $ 21,233 2,961 3,092 3,009 3,407 2,883 2,242 3,358 At December 31, 2010 Gross Gross unrealized unrealized losses gains $ 1,576 45 95 145 16 116 82 57 $ (237) (282) (378) (230) (193) (132) (58) (47) Estimated fair value $ 22,572 2,724 2,809 2,924 3,230 2,867 2,266 3,368 Retained interests 34 21 (3) 52 55 10 (26) 39 Equity Available-for-sale Trading 860 418 222 - (28) - 1,054 418 500 417 213 - (8) - 705 417 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 $ $ 2,379 $ (1,332) $ 44,872 $ At March 31, 2011 - In loss position for Less than 12 months 12 months or more Gross Gross unrealized unrealized Estimated Estimated losses losses fair value fair value $ Retained interests Equity Total 43,825 $ 1,968 941 319 859 62 439 1,052 1,878 $ (49) (40) (5) (92) (2) (9) (5) (19) $ 1,327 544 996 778 899 847 148 162 $ (107) (222) (328) (85) (141) (100) (57) (40) - - 6 (3) 75 (25) 10 (3) 7,593 $ (246) $ 5,717 $ (1,086) 43,157 $ 2,355 $ (1,591) $ 43,921 At December 31, 2010 - In loss position for Less than 12 months 12 months or more Gross Gross unrealized unrealized Estimated Estimated losses losses fair value fair value $ 2,375 949 188 831 113 448 661 1,822 $ - 7,436 $ - 49 $ (81) (43) (4) (104) (5) (12) (6) (47) $ 34 (8) $ 1,519 570 1,024 817 910 804 107 - (310) (26) $ 5,785 (156) (239) (374) (126) (188) (120) (52) - $ (1,281) (a) Substantially collateralized by U.S. mortgages. 35 GECS - Funding March 31, 2011 (In billions) December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 Commercial paper Long-term debt (a) Deposits/brokered CD's Alternate funding / other Non-recourse borrowings of consolidated securitization entities $ 40.6 324.1 39.4 24.7 29.3 $ 42.0 336.0 37.3 25.2 30.1 $ 41.3 347.4 36.4 24.2 30.5 $ 46.0 339.8 31.9 23.9 33.4 $ 46.0 358.5 32.8 25.9 36.8 Total debt $ 458.1 $ 470.6 $ 479.8 $ 475.0 $ 500.0 $ 53.0 $ 51.8 $ 52.1 $ 51.7 $ 51.6 Metrics Bank lines Commercial paper coverage (b): Bank lines Bank lines and cash and equivalents 130 % 296 % 123 % 267 % 126 % 282 % 112 % 242 % 112 % 239 % Cash and equivalents $ 67.3 $ 60.3 $ 64.3 $ 59.8 $ 58.3 LT debt < 1 year $ 59.2 $ 65.6 $ 62.7 $ 63.0 $ 64.5 (a) Includes $45 billion, $53 billion, $55 billion, $58 billion, and $59 billion of long term debt issued under the TLGP program at March 31, 2011, December 31, 2010, September 30, 2010, June 30, 2010, and March 31, 2010, respectively. (b) Commercial paper coverage represents bank lines, both excluding and including cash and equivalents, as a percentage of the commercial paper balance as of the end of the relevant period. 36 GECS - Ratios (a) Leverage ratio (In billions) Debt Equity (b) March 31, 2011 $ Leverage ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt December 31, 2010 458.1 72.1 $ 470.6 69.0 6.4:1 $ 458.1 (7.7) (67.4) 383.0 September 30, 2010 $ 486.5 66.9 6.8:1 $ 470.6 (7.7) (60.4) 402.4 June 30, 2010 $ 481.7 67.3 7.3:1 $ 486.5 (7.7) (66.0) 412.7 March 31, 2010 $ 7.2:1 $ 481.7 (7.7) (61.5) 412.4 506.6 68.5 7.4:1 $ 506.6 (7.7) (60.0) 438.9 Equity (b) Add: hybrid debt Adjusted equity 72.1 7.7 79.8 69.0 7.7 76.7 66.9 7.7 74.6 67.3 7.7 75.0 68.5 7.7 76.2 Adjusted leverage ratio 4.8:1 5.2:1 5.5:1 5.5:1 5.8:1 Tangible common equity to tangible assets ratio (In billions) March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 Total equity (b) Less: Goodwill and other intangibles $ 72.1 (29.6) $ 69.0 (29.5) $ 66.9 (30.1) $ 67.3 (29.9) $ 68.5 (31.7) Tangible common equity $ 42.5 $ 39.5 $ 36.8 $ 37.4 $ 36.8 Total assets Less: Goodwill and other intangibles $ 597.7 (29.6) $ 608.7 (29.5) $ 624.7 (30.1) $ 617.9 (29.9) $ 646.1 (31.7) Tangible assets $ 568.1 $ 579.2 $ 594.6 $ 588.0 $ 614.4 Tangible common equity to tangible assets 7.5 % 6.8 % 6.2 % 6.3 % 6.0 % Tier 1 common ratio (c) 8.6 % 7.8 % 7.3 % 7.1 % 6.8 % (a) Includes discontinued operations. (b) Equity represents amounts available to GECS shareholders, excluding noncontrolling interests. (c) Estimated based on SCAP requirements. 37 Appendix 38 Glossary Term Definition Borrowing Financial liability (short or long-term) that obligates us to repay cash or another financial asset to another entity. Cash and 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. 39 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. 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. 40