GE 2005 Annual Report Download - page 116

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(116)
Note 18
Borrowings (Restated)
SHORT-TERM BORROWINGS
2005 2004
December 31 (Dollars in millions) Amount
Average
rate(a) Amount
Average
rate(a)
GE
Commercial paper
U.S. $497 4.40% $
–
–
%
Non-U.S. 1 2.85 131 2.52
Payable to banks 358 3.99 407 2.95
Current portion of long-term debt 129 4.84 2,563 2.17
Other
142 308
1,127 3,409
GECS
Commercial paper
U.S.
Unsecured 67,643 4.30 62,195 2.24
Asset-backed(b)
9,267 4.21 13,842 2.17
Non-U.S. 20,456 3.47 20,835 2.97
Current portion of long-term debt(c)(d)
41,792 4.05 37,530 4.11
Other
18,514 19,890
157,672 154,292
ELIMINATIONS (643) (506 )
Total $158,156 $ 157,195
(a) Based on year-end balances and year-end local currency interest rates. Current portion of long-term debt included the effects of interest
rate and currency swaps, if any, directly associated with the original debt issuance.
(b) Entirely obligations of consolidated, liquidating securitization entities. See note 28.
(c) Included short-term borrowings by consolidated, liquidating securitization entities of $697 million and $756 million at December 31, 2005
and 2004, respectively. See note 28.
(d) Included $250 million of subordinated notes guaranteed by GE at December 31, 2005.