GE Capital Third 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; potential market disruptions or other impacts arising in the United States or Europe from developments in the European sovereign debt situation; 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 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; potential financial implications from the Japanese natural disaster; 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, joint ventures, and dispositions and our success in completing announced transactions and 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. Third 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 September 30, 2011 $ 11,116 32 11,148 June 30, 2011 $ 11,584 42 11,626 For three months ending March 31, 2011 $ 12,169 42 12,211 December 31, 2010 $ 11,702 44 11,746 September 30, 2010 $ 11,061 40 11,101 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 3,557 3,107 30 27 1,020 1,836 9,577 3,583 3,319 38 30 811 1,792 9,573 3,581 3,352 40 24 1,157 1,775 9,929 3,602 3,815 43 35 1,352 1,971 10,818 3,565 3,338 39 36 1,637 2,016 10,631 Earnings from continuing operations before income taxes Benefit (provision) for income taxes 1,571 (66) 2,053 (378) 2,282 (446) 928 124 470 366 Earnings from continuing operations (a) Earnings (loss) from discontinued operations, net of taxes 1,505 2 1,675 218 1,836 57 1,052 634 836 (1,051) Net earnings (loss) Less: Net earnings (loss) attributable to noncontrolling interests 1,507 38 1,893 20 1,893 31 1,686 25 (215) 18 Net earnings (loss) attributable to GECC $ 1,469 $ 1,873 GECC - statement of changes in shareowner's equity September 30, 2011 (In millions) Changes in GECC shareowner's equity Balance at beginning of period Dividends and other transactions with shareowner Other comprehensive income (loss) - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans $ $ (300) (848) (105) 28 (1,225) 1,469 244 Increase / (decrease) from net earnings attributable to the Company Comprehensive income Balance at end of period 78,844 (1) June 30, 2011 $ 79,087 76,143 - $ 78,844 $ For three months ending March 31, 2011 $ 38 985 (195) 828 1,873 2,701 $ 1,862 72,881 - 76,143 $ December 31, 2010 $ (77) 1,542 (64) (1) 1,400 1,862 3,262 $ 1,661 70,493 79 September 30, 2010 $ 202 172 271 3 648 1,661 2,309 $ 72,881 (233) 69,823 (5) 163 1,037 (278) (14) 908 (233) 675 $ 70,493 (a) Effective January 1, 2010, GE Capital segment earnings are equal to the earnings from continuing operations for GECC. 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 $24,291, $24,961, $25,125, $25,390, and $25,879 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 September 30, 2011 $ 82,391 17,362 44 293,737 13,211 June 30, 2011 $ March 31, 2011 77,258 18,372 52 300,749 13,657 $ 55,307 28,173 1,843 74,410 895 6,407 52,309 27,726 1,702 79,743 3,050 1,461 December 31, 2010 66,497 18,666 63 303,365 13,313 $ 54,286 27,759 1,874 72,306 1,587 10,106 59,538 17,952 66 312,234 13,674 September 30, 2010 $ 53,747 27,508 1,874 79,045 3,127 12,375 63,612 17,962 62 314,573 12,610 53,415 27,246 2,093 82,077 786 21,725 $ 572,736 $ 577,123 $ 569,822 $ 581,140 $ 596,161 $ 121,733 7,835 29,022 41,515 259,332 4,859 21,983 3,091 1,813 1,261 $ 118,599 7,739 29,075 41,548 268,830 5,054 22,283 1,717 527 1,706 $ 105,393 8,271 29,300 39,397 278,732 5,554 19,246 4,057 550 2,001 $ 113,646 6,839 30,018 37,298 284,346 5,779 20,287 6,109 592 2,181 $ 110,488 8,081 30,434 36,375 297,369 6,663 20,481 4,900 446 9,305 Total liabilities 492,444 497,078 492,501 507,095 524,542 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 (676) 138 (1,711) (353) 28,462 53,171 (376) 986 (1,606) (381) 28,463 51,702 (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 Total GECC shareowner's equity 79,087 78,844 76,143 72,881 70,493 1,205 1,201 1,178 1,164 1,126 80,292 80,045 77,321 74,045 71,619 Noncontrolling interests Total equity Total liabilities and equity $ 572,736 $ 577,123 $ 569,822 $ 581,140 $ 596,161 4 GECS - Condensed statement of earnings (In millions) Revenues Revenues from services Sales of goods Total revenues September 30, 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 11,986 32 12,018 June 30, 2011 $ 12,401 42 12,443 For three months ending March 31, 2011 $ 12,999 42 13,041 December 31, 2010 $ 12,618 44 12,662 September 30, 2010 $ 11,914 40 11,954 3,560 3,268 30 755 1,020 1,837 10,470 3,601 3,454 38 790 811 1,792 10,486 3,589 3,483 40 769 1,157 1,776 10,814 3,610 3,946 43 844 1,352 1,971 11,766 3,573 3,479 39 796 1,637 2,018 11,542 Earnings from continuing operations before income taxes Benefit (provision) for income taxes 1,548 (57) 1,957 (344) 2,227 (428) 896 136 412 386 Earnings from continuing operations Earnings (loss) from discontinued operations, net of taxes 1,491 2 1,613 217 1,799 57 1,032 634 798 (1,052) Net earnings (loss) Less: Net earnings (loss) attributable to noncontrolling interests 1,493 38 1,830 20 1,856 31 1,666 25 (254) 18 Net earnings (loss) attributable to GECS $ 1,455 $ 1,810 GECS - statement of changes in shareowner's equity September 30, 2011 (In millions) Changes in GECS shareowner's equity Balance at beginning of period Dividends and other transactions with shareowner Other comprehensive income (loss) - net Investment securities Currency translation adjustments Cash flow hedges Benefit plans $ $ 248 (832) (47) 28 (603) 1,455 852 Increase / (decrease) from net earnings attributable to the Company Comprehensive income Balance at end of period 75,108 (1) June 30, 2011 $ 75,959 72,104 - $ 75,108 $ For three months ending March 31, 2011 $ 391 993 (190) 1,194 1,810 3,004 $ 1,825 68,984 1 72,104 $ December 31, 2010 $ (188) 1,553 (70) (1) 1,294 1,825 3,119 $ 1,641 66,854 80 September 30, 2010 $ (22) 180 248 3 409 1,641 2,050 $ 68,984 (272) 67,267 (5) (906) 1,045 (261) (14) (136) (272) (408) $ 66,854 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 $24,307, $24,977, $25,140, $25,404, and $25,895 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 September 30, 2011 $ 83,278 46,442 44 293,737 13,689 June 30, 2011 $ March 31, 2011 77,983 45,331 52 300,749 14,263 $ 55,326 28,173 1,851 74,598 895 6,413 52,328 27,726 1,710 79,542 3,050 1,516 December 31, 2010 67,253 44,872 63 303,365 14,009 $ 54,306 27,759 1,882 72,471 1,587 10,106 60,257 43,921 66 312,234 14,304 September 30, 2010 $ 53,768 27,508 1,883 79,240 3,127 12,375 64,269 45,130 62 314,573 13,146 53,435 27,246 2,102 82,312 786 21,725 $ 603,062 $ 605,634 $ 597,673 $ 608,683 $ 624,786 $ 126,866 7,995 29,022 41,515 259,404 30,405 22,881 4,440 1,813 1,557 $ 123,643 7,870 29,075 41,548 268,962 29,854 23,127 2,759 527 1,960 $ 110,603 8,372 29,300 39,397 278,792 30,363 19,903 4,864 550 2,247 $ 118,797 7,035 30,018 37,298 284,407 29,993 20,982 6,990 592 2,423 $ 115,521 8,189 30,434 36,375 297,437 31,688 21,414 5,752 446 9,550 Total liabilities 525,898 529,325 524,391 538,535 556,806 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 (188) 303 (1,588) (353) 27,616 50,158 (436) 1,135 (1,541) (381) 27,617 48,703 (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 Total GECS shareowner's equity 75,959 75,108 72,104 68,984 66,854 1,205 1,201 1,178 1,164 1,126 77,164 76,309 73,282 70,148 67,980 Noncontrolling interests Total equity Total liabilities and equity $ 603,062 $ 605,634 $ 597,673 $ 608,683 $ 624,786 6 GECC continuing operations (GE Capital) September 30, 2011 (In millions) Revenues Less: Interest expense Net revenues $ 11,148 (3,557) 7,591 For three months ending March 31, 2011 June 30, 2011 $ 11,626 (3,583) 8,043 $ 12,211 (3,581) 8,630 December 31, 2010 $ 11,746 (3,602) 8,144 September 30, 2010 $ 11,101 (3,565) 7,536 Costs and expenses Selling, general and administrative Depreciation and amortization Operating and other expenses Total costs and expenses 2,759 1,836 405 5,000 2,771 1,792 616 5,179 2,687 1,775 729 5,191 2,909 1,971 984 5,864 2,572 2,016 841 5,429 Earnings before income taxes and provision for losses Less: Provision for losses on financing receivables 2,591 (1,020) 2,864 (811) 3,439 (1,157) 2,280 (1,352) 2,107 (1,637) Earnings before income taxes Benefit (provision) for income taxes 1,571 (66) 2,053 (378) 2,282 (446) 928 124 470 366 Earnings from continuing operations before noncontrolling interests Less: Net earnings (loss) attributable to noncontrolling interests $ 1,505 38 $ 1,675 20 $ 1,836 31 $ 1,052 25 $ 836 18 GE Capital segment profit $ 1,467 $ 1,655 $ 1,805 $ 1,027 $ 818 September 30, 2011 (In millions) Segment profit CLL Consumer Real Estate EFS GECAS $ $ GECC corporate items and eliminations GE Capital segment profit $ For three months ending March 31, 2011 June 30, 2011 688 737 (82) 79 208 1,630 (163) $ 1,467 $ $ 701 1,020 (335) 139 321 1,846 (191) $ 1,655 $ $ December 31, 2010 554 1,219 (358) 112 306 1,833 (28) $ 1,805 $ $ September 30, 2010 567 546 (409) 33 432 1,169 (142) $ 1,027 $ $ 443 773 (405) 55 158 1,024 (206) 818 7 GE Capital asset quality 8 GE Capital - Assets by region (a) At (In millions) September 30, 2011 Property, plant and equipment (net) Financing receivables (net) 141,055 $ U.S. (b) Europe (c) Western (including U.K.) Eastern Pacific Basin Americas (excluding U.S.) Other (d) $ Total $ 293,737 $ 52,309 $ 571,275 Total at June 30, 2011 $ 300,749 $ 55,307 $ 570,716 Total at March 31, 2011 $ 303,365 $ 54,286 $ 559,716 Total at December 31, 2010 $ 312,234 $ 53,747 $ 568,765 Total at September 30, 2010 $ 314,573 $ 53,415 $ 574,436 77,432 18,716 25,047 18,789 12,698 8,870 Total assets $ 5,097 237 2,753 1,304 34,048 307,647 $ 104,516 26,666 47,997 31,788 52,661 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 Total assets Total assets Total assets Total assets 297,988 $ 109,909 29,561 48,023 32,114 53,121 $ 570,716 290,485 $ 108,912 28,067 46,516 32,725 53,011 $ 559,716 296,366 $ 108,728 30,215 47,174 32,738 53,544 $ 568,765 299,546 110,563 31,000 47,049 32,848 53,430 $ 574,436 (a) Excludes assets of discontinued operations. (b) Total assets include our global Treasury operations, including both U.S. and non U.S. cash and equivalents. (c) Total assets include non-financing assets (cash, goodwill, and property, plant and equipment) of approximately $11,300 million at September 30, 2011. (d) Includes total assets of $48,613 million at GECAS, approximately $11,800 million of which relates to European airlines and other investments at September 30, 2011. 9 GE Capital - Assets in selected emerging markets (In millions) Selected emerging markets (a) Eastern Europe Poland Czech Republic Hungary Turkey Total Eastern Europe September 30, 2011 Property, plant and equipment (net) Financing receivables (net) $ 8,863 5,625 3,242 17,730 $ 119 55 41 215 Total assets $ 12,376 7,305 4,497 403 24,581 $ At June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 Total assets Total assets Total assets Total assets 13,689 7,844 4,817 972 27,322 $ 13,202 7,553 4,576 440 25,771 $ 13,236 6,657 4,427 3,074 27,394 $ 13,058 7,304 4,115 3,077 27,554 Pacific Basin and Other India Thailand Total Pacific Basin and Other 1,184 57 1,241 14 14 1,682 1,636 3,318 1,808 1,618 3,426 1,789 1,636 3,425 1,777 1,621 3,398 1,771 1,554 3,325 Americas Mexico Total Americas 5,225 5,225 763 763 8,253 8,253 8,344 8,344 8,406 8,406 8,411 8,411 8,047 8,047 Total $ 24,196 $ 992 $ 36,152 Total at June 30, 2011 $ 25,684 $ 1,070 $ 39,092 Total at March 31, 2011 $ 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 $ 39,092 $ 37,602 $ 39,203 $ 38,926 (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 (a) (b) (In millions, unless otherwise noted) Financing receivables (c) March 31, 2011 Balances September 30, 2011 CLL Americas Europe Asia Other Total $ $ 81,072 37,130 11,914 469 130,585 June 30, 2011 $ $ September 30, 2011 CLL Americas Europe Asia Other Total $ $ 1,967 1,086 230 16 3,299 $ $ $ 995 403 150 5 1,553 $ $ $ 153 70 40 263 1,124 433 180 6 1,743 $ June 30, 2011 $ $ $ 84,825 37,093 11,545 619 134,082 $ $ $ $ 2,397 1,209 346 6 3,958 $ $ 1,254 443 228 6 1,931 September 30, 2010 88,558 37,498 11,943 664 138,663 $ $ December 31, 2010 $ $ Allowance for losses (e) March 31, 2011 June 30, 2011 September 30, 2011 CLL Americas Europe Asia Other Total 2,060 1,156 266 6 3,488 $ $ Nonearning receivables (d) March 31, 2011 June 30, 2011 September 30, 2011 CLL Americas Europe Asia Other Total 81,518 37,897 11,759 585 131,759 December 31, 2010 September 30, 2010 2,573 1,241 406 6 4,226 $ $ December 31, 2010 $ $ $ $ 172 35 58 265 $ $ 2,779 1,095 429 5 4,308 September 30, 2010 1,288 429 222 6 1,945 $ $ Write-offs (net) - for three months ending March 31, December 31, 2011 2010 139 64 71 274 91,735 36,969 12,192 685 141,581 1,357 411 252 7 2,027 September 30, 2010 314 71 56 1 442 $ $ 189 47 18 254 (a) During the third quarter of 2011, we transferred our Railcar lending and leasing portfolio from CLL Other to CLL Americas. Prior-period amounts were reclassified to conform to the current-period presentation. (b) Local currency exposure includes amounts payable to the Corporation by borrowers with a country of residence other than the one in which the credit is booked. (c) Financing receivables include impaired loans of $5,443 million at September 30, 2011. (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 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. (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. 11 GE Capital - CLL portfolio overview (a) Ratios Nonearning receivables as a percent of financing receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 CLL Americas Europe Asia Other Total 2.4 % 2.9 1.9 3.4 2.5 50.6 % 37.1 65.2 31.3 47.1 52.3 % 36.6 65.9 100.0 48.8 1.4 % 1.1 1.5 1.0 1.3 0.8 % 0.7 1.4 0.8 50.1 % 34.6 54.7 100.0 46.0 1.5 % 1.2 2.0 1.0 1.4 September 30, 2011 0.7 % 0.7 2.4 0.8 1.99 % 1.94 % September 30, 2010 1.5 % 1.1 2.1 1.0 1.4 September 30, 2010 1.4 % 0.8 1.9 0.6 1.3 December 31, 2010 2.03 % 48.8 % 37.5 58.7 140.0 47.1 1.5 % 1.1 1.9 0.9 1.4 0.8 % 0.4 2.0 NM 0.8 CLL March 31, 2011 June 30, 2011 3.0 % 3.0 3.5 0.3 3.0 September 30, 2010 Write-offs as a percent of financing receivables (d) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Delinquency 54.6 % 37.5 67.7 100.0 50.0 1.2 % 1.1 1.3 1.1 1.2 CLL Americas Europe Asia Other Total 2.9 % 3.3 3.4 0.3 3.0 Allowance for losses as a percent of total financing receivables (c) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 CLL Americas Europe Asia Other Total 2.8 % 3.3 3.0 0.3 3.0 Allowance for losses as a percent of nonearning receivables (c) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 CLL Americas Europe Asia Other Total 2.5 % 3.1 2.3 0.2 2.6 September 30, 2010 0.8 % 0.5 0.6 NM 0.7 September 30, 2010 2.14 % 2.40 % (a) During the third quarter of 2011, we transferred our Railcar lending and leasing portfolio from CLL Other to CLL Americas. Prior-period amounts were reclassified to conform to the current-period 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 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. (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. 12 GE Capital - Portfolio overview (In millions, unless otherwise noted) Balances September 30, 2011 EFS GECAS Other $ 5,977 11,841 1,388 $ September 30, 2011 EFS GECAS Other $ 135 62 71 $ 36 14 43 $ $ $ (1) (1) 12 $ 6,662 12,104 1,640 December 31, 2010 $ Nonearning receivables (b) March 31, 2011 136 64 87 $ 162 16 99 $ Allowance for losses (c) March 31, 2011 June 30, 2011 35 15 54 $ 36 12 55 7,011 12,615 1,788 September 30, 2010 $ December 31, 2010 62 102 $ December 31, 2010 $ 22 20 58 $ (7) 3 8 $ 4 8 $ 71 6 7,291 12,227 2,087 September 30, 2010 163 90 September 30, 2010 $ Write-offs (net) - for three months ending June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 EFS GECAS Other 6,143 11,952 1,517 June 30, 2011 September 30, 2011 EFS GECAS Other Financing receivables (a) March 31, 2011 June 30, 2011 85 25 53 September 30, 2010 $ 7 - (a) Financing receivables include $135 million, $91 million, and $148 million of impaired loans at EFS, GECAS, and Other, respectively, at September 30, 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) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 EFS GECAS Other 2.3 % 0.5 5.1 26.7 % 22.6 60.6 0.6 % 0.1 3.1 25.7 % 23.4 62.1 22.2 % 75.0 55.6 0.6 % 0.1 3.6 0.5 % 0.1 3.4 (0.1) % 3.3 (0.4) % 0.1 2.0 0.2 % 1.9 2.2 % 4.3 September 30, 2010 35.5 % 56.9 52.1 % 58.9 September 30, 2010 0.3 % 0.2 3.2 Write-offs (net) as a percent of financing receivables (c) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 EFS GECAS Other 0.9 % 5.7 Allowance for losses as a percent of total financing receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 EFS GECAS Other 2.4 % 0.1 6.0 Allowance for losses as a percent of nonearning receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 EFS GECAS Other 2.2 % 0.5 5.7 September 30, 2010 1.2 % 0.2 2.5 September 30, 2010 4.0 % NM 1.2 NM % 0.2 NM (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 September 30, 2011 Real Estate Debt (b) Business Properties Total $ $ 25,748 8,630 34,378 $ $ $ 714 314 1,028 $ $ $ 978 163 1,141 $ $ $ 151 36 187 1,092 184 1,276 $ June 30, 2011 $ 29,474 9,548 39,022 $ $ $ $ 769 368 1,137 $ $ 1,118 181 1,299 September 30, 2010 30,249 9,962 40,211 $ $ December 31, 2010 $ $ Allowance for losses (d) March 31, 2011 June 30, 2011 September 30, 2011 Real Estate Debt Business Properties Total 680 323 1,003 $ $ December 31, 2010 Nonearning receivables (c) March 31, 2011 June 30, 2011 September 30, 2011 Real Estate Debt Business Properties Total 27,750 9,057 36,807 $ September 30, 2011 Real Estate Debt Business Properties Total Financing receivables (a) March 31, 2011 June 30, 2011 September 30, 2010 961 386 1,347 $ $ December 31, 2010 $ $ $ 91 27 118 $ $ 240 40 280 $ $ 1,037 388 1,425 September 30, 2010 1,292 196 1,488 $ $ Write-offs (net) - for three months ending March 31, December 31, 2011 2010 $ 32,167 10,314 42,481 1,649 208 1,857 September 30, 2010 332 33 365 $ $ 195 27 222 (a) Financing receivables include $9,357 million of impaired loans at Real Estate at September 30, 2011. (b) Financing receivables include $119 million of construction loans at September 30, 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) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Real Estate Debt Business Properties Total 2.8 % 3.6 3.0 137.0 % 51.9 111.0 145.4 % 49.2 114.2 3.9 % 2.0 3.5 2.3 % 1.6 2.1 134.4 % 50.8 110.5 3.8 % 1.9 3.3 September 30, 2011 4.18 % 1.3 % 1.2 1.2 4.12 % 4.08 % 159.0 % 53.6 130.0 September 30, 2010 4.3 % 2.0 3.7 5.1 % 2.0 4.4 September 30, 2010 4.3 % 1.3 3.5 3.2 % 1.6 2.8 Real Estate March 31, 2011 June 30, 2011 3.2 % 3.8 3.4 September 30, 2010 Write-offs as a percent of financing receivables (c) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Delinquency 160.6 % 57.0 127.2 3.8 % 1.9 3.3 Real Estate Debt Business Properties Total 3.2 % 3.9 3.3 Allowance for losses as a percent of total financing receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Real Estate Debt Business Properties Total 2.6 % 3.9 2.9 Allowance for losses as a percent of nonearning receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Real Estate Debt Business Properties Total 2.5 % 3.6 2.7 September 30, 2010 December 31, 2010 2.4 % 1.0 2.1 September 30, 2010 4.41 % 5.74 % (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 September 30, 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 $ $ 38,708 19,801 43,249 6,462 8,017 116,237 $ $ $ 3,619 299 882 35 441 5,276 $ $ $ 779 816 1,953 123 211 3,882 $ $ $ 67 172 537 15 45 836 790 934 1,846 143 218 3,931 $ $ 40,421 20,235 41,282 7,295 8,231 117,464 $ $ $ $ 3,843 295 1,004 41 461 5,644 $ $ 813 930 2,141 152 239 4,275 40,011 20,132 43,974 7,558 8,304 119,979 September 30, 2010 $ $ December 31, 2010 $ $ Allowance for losses (c) March 31, 2011 June 30, 2011 3,738 289 1,201 46 478 5,752 $ $ December 31, 2010 $ $ 803 937 2,333 168 259 4,500 $ $ 64 196 652 27 43 982 $ $ 55 182 777 36 61 1,111 $ $ 112 251 891 13 70 1,337 40,127 20,966 40,052 8,155 8,488 117,788 September 30, 2010 3,966 317 1,144 41 481 5,949 September 30, 2010 $ $ Write-offs (net) - for three months ending June 30, March 31, December 31, 2011 2011 2010 September 30, 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 3,804 308 790 39 490 5,431 $ $ December 31, 2010 Nonearning receivables (b) March 31, 2011 June 30, 2011 September 30, 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 40,731 21,047 42,178 7,141 8,528 119,625 $ September 30, 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 Financing receivables (a) March 31, 2011 June 30, 2011 867 974 2,551 198 244 4,834 September 30, 2010 $ $ 62 243 853 42 59 1,259 (a) Financing receivables include impaired loans of $3,093 million at September 30, 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 Nonearning receivables as a percent of financing receivables (a) June 30, March 31, December 31, 2011 2011 2010 Ratios September 30, 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 9.3 1.5 2.0 0.5 5.5 4.5 % 21.5 272.9 221.4 351.4 47.8 73.6 % 2.0 4.1 4.5 1.9 2.6 3.3 % 9.3 1.4 2.7 0.6 5.8 4.8 % % 21.2 315.3 213.2 370.7 51.8 75.7 % 1.9 4.4 4.4 2.0 2.6 3.3 % 2.0 4.6 5.2 2.1 2.9 3.6 0.7 3.4 5.0 0.9 2.2 2.8 % 7.59 % 0.6 3.8 6.2 1.5 2.1 3.3 % 0.5 3.6 7.3 1.9 3.0 3.7 21.5 % 324.2 194.3 365.2 54.2 78.2 % 7.59 % September 30, 2010 2.2 % 4.6 6.4 2.4 2.9 4.1 September 30, 2010 1.1 % 4.9 8.5 0.7 3.3 4.5 December 31, 2010 7.89 % 21.9 % 307.3 223.0 482.9 50.7 81.3 2.0 % 4.7 5.3 2.2 3.1 3.8 % Consumer March 31, 2011 June 30, 2011 9.9 % 1.5 2.9 0.5 5.7 5.1 September 30, 2010 Write-offs as a percent of financing receivables (c) June 30, March 31, December 31, 2011 2011 2010 September 30, 2011 Delinquency 20.8 303.2 233.7 366.7 44.5 72.4 % September 30, 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 9.5 1.5 2.4 0.6 5.6 4.8 Allowance for losses as a percent of total financing receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 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 % Allowance for losses as a percent of nonearning receivables (b) June 30, March 31, December 31, 2011 2011 2010 September 30, 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 9.3 1.5 1.9 0.5 5.7 4.5 September 30, 2010 0.6 % 4.7 8.5 2.1 2.8 4.3 September 30, 2010 8.09 % 8.58 % (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) September 30, 2011 Commercial CLL EFS GECAS Other Total Commercial Nonearning financing receivables (a) Nonaccrual financing receivables (b) $ $ 3,299 135 62 71 3,567 4,547 135 62 123 4,867 Real Estate 1,028 7,285 Consumer 5,276 5,508 Total $ 9,871 $ 17,660 (a) Nonearning financing receivables are those that are 90 days or more past due (or for which collection has otherwise become doubtful). Nonearning financing 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 financing 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 financing 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 financing receivables of $17.7 billion includes $9.9 billion classified as nonearning financing receivables. Substantially all of this difference relates to loans which are classified as nonaccrual financing receivables but are paying on a cash basis, and therefore are excluded from nonearning financing 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 (a) Balance January 1, 2011 Balance December 31, 2009 Other (b) Gross writeoffs Recoveries Balance September 30, 2011 $ 803 937 2,333 168 259 $ 151 413 1,587 26 107 $ 11 16 (1) 7 (6) $ (229) (980) (2,365) (176) (215) $ 43 430 399 98 66 $ 779 816 1,953 123 211 $ 4,500 $ 2,284 $ 27 $ (3,965) $ 1,036 $ 3,882 Provision charged to operations Balance January 1, 2010 Adoption of ASU 2009-16 & 17 (c) Other (b) Gross writeoffs Recoveries Balance September 30, 2010 $ 892 1,106 1,551 292 292 $ 1,602 - $ 892 1,106 3,153 292 292 $ 224 810 2,342 83 210 $ (57) (46) (3) (36) (24) $ (259) (1,318) (3,285) (269) (298) $ 67 422 344 128 64 $ 867 974 2,551 198 244 $ 4,133 $ 1,602 $ 5,735 $ 3,669 $ (166) $ (5,429) $ 1,025 $ 4,834 (a) On July 1, 2011, we adopted ASU 2011-02, an amendment to ASC 310, Receivables, which resulted in an increase of $77 million to our allowance for losses. (b) Other primarily included the effects of currency exchange. (c) 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. 20 GE Capital - Consumer financing receivables by region (In millions) September 30, 2011 Installment and revolving credit Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at September 30, 2011 $ - $ 29,721 8,363 225 34 365 March 31, 2011 38,708 $ Total at March 31, 2011 $ - $ September 30, 2010 $ $ Total at September 30, 2010 $ - $ $ 41,282 61,517 $ 40,052 6,462 $ 61,018 $ $ 7,295 $ - $ $ 849 $ 8,231 42,131 46,359 19,697 8,550 280 447 $ 117,464 June 30, 2011 Installment and revolving credit Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other $ Total at June 30, 2011 $ - $ 31,240 8,783 245 51 412 December 31, 2010 40,731 $ Total at December 31, 2010 $ - $ 63,225 $ 43,974 $ 64,106 $ 7,141 $ - $ $ 8,528 7,558 $ 119,625 Total 877 $ 2,853 4,321 253 $ 43,067 46,324 20,461 9,103 247 423 Other (a) 4,700 1,341 1,516 1 $ Total 889 2,755 4,677 207 - Auto $ 7,533 5,479 6,868 221 31 $ Other (a) 4,547 1,326 1,267 1 Installment and revolving credit 31,100 8,108 249 105 449 40,011 Auto $ 7,782 5,675 7,384 196 10 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 42,178 8,304 44,851 46,186 19,249 8,886 326 481 $ 119,979 Total 939 $ 2,971 4,283 295 $ 116,237 Total Other (a) 8,155 44,134 43,888 19,130 8,509 205 371 2,736 4,432 214 - 5,112 1,389 1,647 7 $ 8,017 $ Auto $ 885 Other (a) - $ Total 2,542 4,418 172 - 4,645 1,328 1,320 2 7,433 5,565 6,421 1,493 54 $ $ Auto Installment and revolving credit 31,317 7,957 246 139 468 40,127 - 7,665 5,564 6,782 206 18 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 63,050 Other (a) 4,187 1,195 1,079 1 Installment and revolving credit 31,313 8,373 234 74 427 40,421 $ 7,438 5,154 7,033 171 5 Mortgages U.S. Europe Western Eastern Pacific Basin Americas Other 43,249 Auto 8,488 40,991 46,833 19,194 8,609 1,632 529 $ 117,788 (a) Represents mainly small and medium enterprise loans. 21 GE Capital - Consumer mortgage portfolio by country (a) (In millions) Financing receivables September 30, 2011 As a % of total Nonearning receivables Delinquent more than 30 days Financing receivables June 30, 2011 As a % of total Nonearning receivables Delinquent more than 30 days U.K. (b) (d) France (d) Poland Czech Republic Hungary Spain All other $ 17,607 9,101 5,895 1,228 1,109 1,003 2,765 45.5 % 23.5 15.2 3.2 2.9 2.6 7.1 13.0 % 3.2 1.1 2.0 12.1 17.3 22.5 20.9 % 3.5 2.7 2.7 16.1 27.8 22.3 U.K. France Poland Czech Republic Hungary Spain All other $ 18,452 9,581 6,189 1,295 1,160 1,059 2,995 45.3 % 23.5 15.2 3.2 2.8 2.6 7.4 13.2 % 3.2 1.1 2.0 10.8 16.8 21.7 21.3 % 3.6 2.2 2.7 15.0 25.6 21.6 Total at September 30, 2011 (c) $ 38,708 100.0 % 9.3 % 13.6 % Total at June 30, 2011 (c) $ 40,731 100.0 % 9.3 % 13.6 % 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. France Poland Czech Republic Hungary Spain All other $ 18,574 9,497 5,854 1,257 1,091 1,061 3,087 46.0 % 23.5 14.5 3.1 2.7 2.6 7.6 13.7 % 3.1 1.0 1.9 10.0 17.3 20.3 20.3 % 3.6 2.1 2.7 14.8 28.1 19.7 U.K. France Poland Czech Republic Hungary Spain All other $ 18,487 9,379 5,694 1,186 1,054 1,047 3,164 46.2 % 23.4 14.2 3.0 2.6 2.6 8.0 13.7 % 2.9 0.9 1.6 9.2 15.0 19.1 21.7 % 3.6 2.0 2.5 14.4 25.5 18.3 Total at March 31, 2011 $ 40,421 100.0 % 9.5 % 13.2 % Total at December 31, 2010 $ 40,011 100.0 % 9.3 % 13.7 % Financing receivables September 30, 2010 As a % of total Nonearning receivables Delinquent more than 30 days U.K. France Poland Czech Republic Hungary Spain All other $ 18,858 9,302 5,545 1,210 1,020 1,074 3,118 47.0 % 23.2 13.8 3.0 2.5 2.7 7.8 15.0 % 2.4 0.9 1.4 8.4 18.1 18.7 23.4 % 3.5 2.0 2.2 13.6 27.4 17.6 Total at September 30, 2010 $ 40,127 100 % 9.9 % 14.6 % (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 September 30, 2011, we had in repossession stock 540 houses in the U.K., which had a value of approximately $0.1 billion. (c) At September 30, 2011, net of credit insurance, approximately 25% 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. 79% 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 14% and have a loan-to-value ratio at origination of 76%. At September 30, 2011, 6% (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 85% and 57%, respectively. 22 GE Capital - Commercial allowance for losses on financing receivables (a) Provision charged to operations Balance January 1, 2011 (In millions) CLL Americas Europe Asia Other $ 1,288 429 222 6 $ Gross write-offs Other (a) 250 126 81 3 $ (79) 17 16 (4) $ Balance September 30, 2011 Recoveries (544) (218) (194) - $ 80 49 25 - $ 995 403 150 5 EFS 22 10 - (4) 8 36 GECAS 20 (4) - (2) - 14 Other 58 13 - (31) 3 43 Total Commercial (In millions) CLL Americas Europe Asia Other $ Balance December 31, 2009 $ EFS 1,180 575 244 10 $ 66 (10) - $ 479 $ Provision charged to operations Balance January 1, 2010 Adoption of ASU 2009-16 & 17 (b) $ 2,045 1,246 575 234 10 $ (50) $ Gross write-offs Other (a) 823 190 131 (3) $ (993) (20) (47) (10) - $ $ 165 $ 1,646 Balance September 30, 2010 Recoveries (787) (348) (118) - $ 95 41 15 - $ 1,357 411 252 7 28 - 28 56 1 - - 85 GECAS 104 - 104 17 - (96) - 25 Other 34 - 34 23 (2) (3) 1 53 Total Commercial $ 2,175 $ 56 $ 2,231 $ 1,237 $ (78) $ (1,352) $ 152 $ 2,190 (a) During the third quarter of 2011, we transferred our Railcar lending and leasing portfolio from CLL Other to CLL Americas. Prior-period amounts were reclassified to conform to the current-period presentation. (b) Other primarily included transfers to held for sale and the effects of currency exchange. (c) 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) Recoveries Balance September 30, 2011 Real Estate Debt Business Properties $ 1,292 196 $ 155 70 $ 13 - $ (494) (107) $ 12 4 $ 978 163 Total Real Estate $ 1,488 $ 225 $ 13 $ (601) $ 16 $ 1,141 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) 794 124 $ 918 $ 5 (7) $ (2) $ Recoveries (505) (92) $ (597) $ - Balance September 30, 2010 $ 1,649 208 $ 1,857 2 2 (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) Region September 30, 2011 June 30, 2011 Financing receivables March 31, 2011 December 31, 2010 September 30, 2010 U.S. Europe Pacific Basin Americas $ 21,335 4,392 2,953 5,698 $ 22,724 4,543 2,992 6,548 $ 24,778 4,468 3,032 6,744 $ 25,989 4,515 2,991 6,716 $ 27,628 4,719 2,974 7,160 Total (a) $ 34,378 $ 36,807 $ 39,022 $ 40,211 $ 42,481 Vintage profile Originated in pre-2008 2008 2009 2010 2011 Total September 30, 2011 Property type September 30, 2011 June 30, 2011 Financing receivables March 31, 2011 December 31, 2010 September 30, 2010 Office buildings Owner occupied Apartment buildings Hotel properties Warehouse properties Retail facilities Mixed use Parking facilities Other $ 7,291 8,630 4,820 3,853 3,317 3,458 1,082 142 1,785 $ 8,459 9,057 5,181 3,978 3,358 3,725 1,109 144 1,796 $ 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 Total (a) $ 34,378 $ 36,807 $ 39,022 $ 40,211 $ 42,481 Contractual maturities September 30, 2011 $ 20,695 11,974 57 608 1,044 Due in 2011 and prior (b) 2012 2013 2014 2015 and later $ 34,378 Total $ 4,845 8,173 4,229 4,579 12,552 $ 34,378 (a) Represents total gross financing receivables for Real Estate only. (b) Includes $907 million relating to loans with contractual maturities prior to September 30, 2011. 25 GE Capital - Real Estate equity overview (a) (In millions, unless otherwise noted) September 30, 2011 Region Equity March 31, 2011 June 30, 2011 December 31, 2010 September 30, 2010 U.S. Europe Pacific Basin Americas $ 7,889 8,590 7,193 2,756 $ 8,120 9,236 7,197 2,865 $ 9,138 9,277 7,131 2,940 $ 9,041 9,750 7,155 2,923 $ 9,254 9,905 7,327 2,927 Total $ 26,428 $ 27,418 $ 28,486 $ 28,869 $ 29,413 September 30, 2011 Vintage profile (e) Originated in pre-2008 2008 2009 2010 2011 Total $ $ September 30, 2011 Property type Equity March 31, 2011 June 30, 2011 December 31, 2010 September 30, 2010 Office buildings Apartment buildings Warehouse properties Retail facilities Mixed use Parking facilities Owner occupied Hotel properties Other $ 14,163 4,168 3,091 2,222 1,139 15 607 348 675 $ 14,770 4,215 3,265 2,322 1,163 16 602 368 697 $ 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 Total $ 26,428 $ 27,418 $ 28,486 $ 28,869 $ 29,413 September 30, 2011 Key metrics Owned real estate (b) $ Net operating income (annualized) Net operating income yield (c) $ 23,471 1,890 96 249 722 End of period vacancies (d) 26,428 Foreclosed properties (f) 22,753 June 30, 2011 $ 1,351 $ 5.8 % 19.5 % $ 745 March 31, 2011 23,665 $ 1,425 $ 6.0 % 20.2 % $ 606 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 1,384 5.5 % 21.0 % $ 708 (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) September 30, 2011 Collateral type CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ Total at September 30, 2011 $ March 31, 2011 Collateral type GECAS 3,083 8,970 2,892 1,674 224 1,191 $ 18,034 $ CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other $ Total at March 31, 2011 $ September 30, 2010 Collateral type $ Total at September 30, 2010 $ 31,846 - $ 31,846 $ 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 EFS $ 32,144 $ GECAS 3,469 8,783 3,008 1,402 1,893 1,125 $ 19,680 $ 867 $ 867 $ EFS 32,144 - $ 30,842 $ - $ 3 2 6 11 $ 886 $ 886 $ - $ 5 2 6 13 $ $ 1,198 $ - $ 50,758 Total at June 30, 2011 $ December 31, 2010 Collateral type GECAS 3,003 9,324 2,932 1,687 2,088 1,182 $ 20,216 $ 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 $ $ 34,311 8,789 3,008 1,404 1,893 2,329 $ 51,734 6 2 6 14 CLL Aircraft Vehicles Railroad rolling stock Construction and manufacturing Marine shipping containers All other EFS 32,885 - $ 32,885 $ GECAS 3,130 9,072 2,960 1,452 1,924 927 $ 19,465 $ Consumer 877 $ 877 $ $ 31,535 $ Total $ 35,888 9,329 2,932 1,689 2,088 2,065 $ 53,991 5 2 6 EFS 31,535 - - 13 Consumer 1,089 $ 1,089 $ - Total $ 34,665 9,077 2,960 1,454 1,924 2,023 $ 52,103 5 2 7 14 Total Consumer 1,198 June 30, 2011 Collateral type 34,929 8,973 2,892 1,676 224 2,064 Total Consumer EFS 30,842 - Total Consumer 27 GE Capital - Commercial aircraft asset details Collateral type (In millions) September 30, 2011 June 30, 2011 Loans and leases March 31, 2011 December 31, 2010 September 30, 2010 Narrow-body aircraft Wide-body aircraft Cargo Regional jets Engines $ 23,848 8,830 3,656 5,025 2,209 $ 25,565 8,725 3,228 5,102 2,093 $ 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 Total (a) $ 43,568 $ 44,713 $ 44,128 $ 44,028 $ 42,950 Airline regions (In millions) September 30, 2011 June 30, 2011 Loans and leases March 31, 2011 December 31, 2010 September 30, 2010 U.S. Europe Pacific Basin Americas Other $ 12,684 10,075 8,723 5,499 6,587 $ 13,580 10,010 8,938 5,655 6,530 $ 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 Total (a) $ 43,568 $ 44,713 $ 44,128 $ 44,028 $ 42,950 Aircraft vintage profile (In millions) September 30, 2011 0-5 years 6-10 years 11 - 15 years 15+ years $ 19,660 14,222 5,174 2,303 Total (b) $ 41,359 (a) Includes loans and financing leases of $11,841 million, $11,952 million, $12,104 million, $12,615 million, and $12,227 million (less non-aircraft loans and financing leases of $119 million, $124 million, $120 million, $122 million, and $119 million) and ELTO of $31,846 million, $32,885 million, $32,144 million, $31,535 million, and $30,842 million, at September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010, and September 30, 2010, respectively, related to commercial aircraft at GECAS. (b) Excludes aircraft engine loans and leases of $2,209 million at September 30, 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 At September 30, 2011 Gross Gross unrealized unrealized gains losses Amortized cost $ 3,696 654 1,790 1,480 3,925 1,395 1,787 2,523 $ 59 17 29 25 2 34 4 13 $ Estimated fair value (168) (141) (281) (199) (215) (124) (133) - $ At December 31, 2010 Gross Gross unrealized unrealized gains losses Amortized cost 3,587 530 1,538 1,306 3,712 1,305 1,658 2,536 $ 3,490 918 2,099 1,619 3,242 1,478 1,804 2,663 $ 169 4 14 7 39 8 3 $ Estimated fair value (14) (232) (355) (183) (190) (111) (58) (5) $ 3,645 690 1,758 1,436 3,059 1,406 1,754 2,661 Retained interests 29 14 (6) 37 55 10 (26) 39 Equity Available-for-sale Trading 720 387 123 - (77) - 766 387 902 417 194 - (9) - 1,087 417 Total (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 $ $ 320 $ (1,344) $ 17,362 $ At September 30, 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 Equity Total 18,386 $ 584 56 134 2,836 38 578 - $ (69) (28) (1) (48) (2) (25) - $ 451 266 892 1,304 850 723 160 2 $ 18,687 $ 448 $ (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 (99) (113) (280) (199) (167) (122) (108) - $ 357 137 166 779 111 123 642 1,613 $ (5) (16) (3) (103) (5) (2) (6) (5) $ 337 443 920 652 902 673 105 - $ (9) (216) (352) (80) (185) (109) (52) - - - 3 (6) - - 34 (26) 116 (77) - - 46 (9) - - 4,342 $ (250) $ 4,651 $ (1,094) $ 3,974 $ (154) $ 4,066 $ (1,029) (a) Substantially collateralized by U.S. mortgages. 30 GE Capital - Investments measured at fair value in earnings (a) Asset balances at September 30, 2011 Investment type (In millions) Equities - trading $ 387 December 31, 2010 $ 417 Net earnings impact for nine months ending September 30, 2011 $ (23) Assets held for sale (LOCOM) 3,682 3,538 (41) Assets of businesses held for sale (LOCOM) 3,050 3,127 (11) 595 390 3 Other (Investment companies and loans) Total $ 7,714 $ 7,472 $ (72) (a) Excludes derivatives portfolio. 31 GE Capital - Ending Net Investment (ENI) September 30, 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 572.7 June 30, 2011 $ 577.1 $ 569.8 December 31, 2010 $ 581.1 September 30, 2010 $ 596.2 (1.5) (6.4) (10.1) (12.4) (21.7) (36.7) (36.1) (36.6) (38.7) (39.2) 534.5 $ (82.4) $ March 31, 2011 452.1 534.6 $ (77.3) $ 457.3 523.1 $ (66.5) $ 456.6 530.0 $ (59.5) $ 470.5 535.3 (63.6) $ 471.7 32 GECC - Ratios (a) Leverage ratio (In billions) Debt Equity (b) September 30, 2011 $ 453.2 79.1 Leverage ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt June 30, 2011 $ 458.1 78.8 5.7:1 $ 453.2 (7.7) (82.7) 362.8 March 31, 2011 $ 5.8:1 $ 458.1 (7.7) (77.4) 373.0 December 31, 2010 452.8 76.1 $ 5.9:1 $ 452.8 (7.7) (66.6) 378.5 465.4 72.9 September 30, 2010 $ 481.4 70.5 6.4:1 $ 465.4 (7.7) (59.7) 398.0 6.8:1 $ 481.4 (7.7) (65.4) 408.3 Equity (b) Add: hybrid debt Adjusted equity 79.1 7.7 86.8 78.8 7.7 86.5 76.1 7.7 83.8 72.9 7.7 80.6 70.5 7.7 78.2 Adjusted leverage ratio 4.2:1 4.3:1 4.5:1 4.9:1 5.2:1 Tangible common equity to tangible assets ratio (In billions) September 30, 2011 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 Total equity (b) Less: Goodwill and other intangibles $ 79.1 (29.4) $ 78.8 (30.0) $ 76.1 (29.6) $ 72.9 (29.5) $ 70.5 (30.1) Tangible common equity $ 49.7 $ 48.8 $ 46.5 $ 43.4 $ 40.4 Total assets Less: Goodwill and other intangibles $ 572.7 (29.4) $ 577.1 (30.0) $ 569.8 (29.6) $ 581.1 (29.5) $ 596.1 (30.1) Tangible assets $ 543.3 $ 547.1 $ 540.2 $ 551.6 $ 566.0 Tangible common equity to tangible assets Tier 1 common ratio (c) 9.1 % 8.9 % 8.6 % 7.9 % 7.1 % 11.0 % 10.4 % 9.8 % 8.9 % 8.2 % (a) Includes discontinued operations. (b) Equity represents amounts available to GECC shareholders, excluding noncontrolling interests. (c) Based on Basel One RWA estimates. 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 September 30, 2011 Gross Gross unrealized unrealized losses gains Amortized cost $ 21,633 2,970 2,794 2,887 4,060 2,703 2,282 3,220 $ 3,076 317 191 137 10 135 116 91 $ Estimated fair value (276) (144) (303) (269) (216) (142) (133) - $ At December 31, 2010 Gross Gross unrealized unrealized losses gains Amortized cost 24,433 3,143 2,682 2,755 3,854 2,696 2,265 3,311 $ 21,233 2,961 3,092 3,009 3,407 2,883 2,242 3,358 $ 1,576 45 95 145 16 116 82 57 $ Estimated fair value (237) (282) (378) (230) (193) (132) (58) (47) $ 22,572 2,724 2,809 2,924 3,230 2,867 2,266 3,368 Retained interests 29 14 (6) 37 55 10 (26) 39 Equity Available-for-sale Trading 828 387 134 - (83) - 879 387 500 417 213 - (8) - 705 417 Total (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 $ $ 4,221 $ (1,572) $ 46,442 $ At September 30, 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 43,793 $ 1,387 62 179 366 2,836 284 597 - $ (104) (29) (6) (36) (48) (8) (25) - $ 961 321 970 1,382 856 773 161 2 $ 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 (172) (115) (297) (233) (168) (134) (108) - $ 2,375 949 188 831 113 448 661 1,822 $ (81) (43) (4) (104) (5) (12) (6) (47) $ 1,519 570 1,024 817 910 804 107 - $ (156) (239) (374) (126) (188) (120) (52) - - - 3 (6) - - 34 (26) 187 (83) - - 49 (8) - - 5,898 $ (339) $ 5,429 $ (1,233) $ 7,436 $ (310) $ 5,785 $ (1,281) (a) Substantially collateralized by U.S. mortgages. 35 GECS - Funding (In billions) September 30, 2011 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 Commercial paper Long-term debt (a) Deposits / CD's Alternate funding / other Non-recourse borrowings of consolidated securitization entities $ 40.7 321.6 41.5 24.0 29.0 $ 40.7 326.5 41.5 25.4 29.1 $ 40.6 324.1 39.4 24.7 29.3 $ 42.0 336.0 37.3 25.2 30.0 $ 41.3 347.4 36.4 24.2 30.5 Total debt $ 456.8 $ 463.2 $ 458.1 $ 470.5 $ 479.8 $ 53.6 $ 53.7 $ 53.0 $ 51.8 $ 52.1 Metrics Bank lines Commercial paper coverage (b): Bank lines Bank lines and cash and equivalents 132 % 336 % 132 % 323 % 130 % 296 % 123 % 267 % 126 % 282 % Cash and equivalents $ 83.3 $ 78.0 $ 67.3 $ 60.3 $ 64.3 LT debt < 1 year $ 76.4 $ 72.9 $ 59.2 $ 65.6 $ 62.7 (a) Includes $45 billion, $45 billion, $45 billion, $53 billion, and $55 billion of long term debt issued under the TLGP program at September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010, and September 30, 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) September 30, 2011 $ 458.4 76.0 Leverage ratio Debt Less: hybrid debt Less: cash and equivalents Adjusted debt June 30, 2011 $ 463.2 75.1 6.0:1 $ 458.4 (7.7) (83.6) 367.1 March 31, 2011 $ 6.2:1 $ 463.2 (7.7) (78.1) 377.4 December 31, 2010 458.1 72.1 $ 6.4:1 $ 458.1 (7.7) (67.4) 383.0 470.6 69.0 September 30, 2010 $ 486.5 66.9 6.8:1 $ 470.6 (7.7) (60.4) 402.5 7.3:1 $ 486.5 (7.7) (66.0) 412.8 Equity (b) Add: hybrid debt Adjusted equity 76.0 7.7 83.7 75.1 7.7 82.8 72.1 7.7 79.8 69.0 7.7 76.7 66.9 7.7 74.6 Adjusted leverage ratio 4.4:1 4.6:1 4.8:1 5.2:1 5.5:1 Tangible common equity to tangible assets ratio (In billions) September 30, 2011 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 Total equity (b) Less: Goodwill and other intangibles $ 76.0 (29.4) $ 75.1 (30.0) $ 72.1 (29.6) $ 69.0 (29.5) $ 66.9 (30.1) Tangible common equity $ 46.6 $ 45.1 $ 42.5 $ 39.5 $ 36.8 Total assets Less: Goodwill and other intangibles $ 603.1 (29.4) $ 605.6 (30.0) $ 597.7 (29.6) $ 608.7 (29.5) $ 624.7 (30.1) Tangible assets $ 573.7 $ 575.6 $ 568.1 $ 579.2 $ 594.6 Tangible common equity to tangible assets 8.1 % 7.8 % 7.5 % 6.8 % 6.2 % Tier 1 common ratio (c) 9.6 % 9.1 % 8.6 % 7.8 % 7.3 % (a) Includes discontinued operations. (b) Equity represents amounts available to GECS shareholders, excluding noncontrolling interests. (c) Based on Basel One RWA estimates. 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