GE 2008 Annual Report Download - page 77

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ge 2008 annual report 75
notes to consolidated financial statements
CONTRACTUAL MATURITIES
Net rentals
(In millions) Total loans receivable
Due in
2009 $ 86,957 $19,819
2010 36,970 13,725
2011 30,902 10,624
2012 26,421 7,150
2013 21,624 4,752
2014 and later 107,329 12,325
Total $310,203 $68,395
We expect actual maturities to differ from contractual maturities.
Individually impaired loans are defined by GAAP as larger
balance or restructured loans for which it is probable that the
lender will be unable to collect all amounts due according to
original contractual terms of the loan agreement. An analysis of
impaired loans follows.
December 31 (In millions) 2008 2007
Loans requiring allowance for losses $2,712 $ 986
Loans expected to be fully recoverable 871 391
Total impaired loans $3,583 $1,377
Allowance for losses $ 635 $ 361
Average investment during year 2,064 1,576
Interest income earned while impaired(a) 27 19
(a) Recognized principally on cash basis.
Note 13.
GECS Allowance for Losses on Financing Receivables
Provision Balance
Balance charged to Currency Gross December 31,
(In millions) January 1, 2008 operations exchange Other (a) write-offs Recoveries 2008
CLL
Equipment and leasing and other $ 661 $ 838 $ 24 $ 91 $ (815) $ 95 $ 894
Commercial and industrial 276 544 (12) 4 (416) 19 415
GE MONEY
Non-U.S. residential mortgages 246 323 (40) 2 (218) 69 382
Non-U.S. installment and revolving credit 1,371 1,748 (194) (223) (2,551) 900 1,051
U.S. installment and revolving credit 985 3,217 — (624) (2,173) 295 1,700
Non-U.S. auto 324 376 (48) (76) (637) 283 222
Other 162 220 (17) 28 (248) 69 214
REAL ESTATE 168 135 (7) 16 (12) 1 301
ENERGY FINANCIAL SERVICES 19 36 — 3 — — 58
GECAS 8 53 — — (1) — 60
OTHER 18 28 — — (18) — 28
TOTAL $4,238 $7,518 $(294) $(779) $(7,089) $1,731 $5,325
(a) Other primarily included the effects of acquisitions, dispositions, reclassifications to held for sale and securitization activity.