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94 GE 2012 ANNUAL REPORT
notes to consolidated financial statements
ALLOWANCE FOR LOSSES ON FINANCING RECEIVABLES
(In millions)
Balance at
January 1,
2012
Provision
charged to
operations Other (a) Gross
write-offs (b) Recoveries (b)
Balance at
December 31,
2012
COMMERCIAL
CLL
Americas $ 889 $ 109 $(51) $ (568) $ 111 $ 490
Europe 400 374 (3) (390) 64 445
Asia 157 37 (3) (134) 23 80
Other 4 13 (1) (10) — 6
Total CLL 1,450 533 (58) (1,102) 198 1,021
Energy Financial Services 26 4 — (24) 3 9
GECAS 17 4 — (13) — 8
Other 37 1 (20) (17) 2 3
Total Commercial 1,530 542 (78) (1,156) 203 1,041
REAL ESTATE
Debt 949 29 (6) (703) 10 279
Business Properties (c) 140 43 (38) (107) 3 41
Total Real Estate 1,089 72 (44) (810) 13 320
CONSUMER
Non-U.S. residential mortgages 546 111 8 (261) 76 480
Non-U.S. installment and revolving credit 717 350 26 (1,046) 576 623
U.S. installment and revolving credit 2,008 2,666 (24) (2,906) 538 2,282
Non-U.S. auto 101 18 (4) (146) 98 67
Other 199 132 18 (257) 80 172
Total Consumer 3,571 3,277 24 (4,616) 1,368 3,624
Total $6,190 $3,891 $(98) $(6,582) $1,584 $4,985
(a) Other primarily included transfers to held-for-sale and the effects of currency exchange.
(b) Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as our revolving credit portfolios turn over more than
once per year or, in all portfolios, can reflect losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the
current year, which may identify further deterioration on existing financing receivables.
(c) In 2012, we completed the sale of a portion of our Business Properties portfolio.
(In millions)
Balance at
January 1,
2011
Provision
charged to
operations (a) Other (b) Gross
write-offs (c) Recoveries (c)
Balance at
December 31,
2011
COMMERCIAL
CLL
Americas $1,288 $ 281 $ (96) $ (700) $ 116 $ 889
Europe 429 195 (5) (286) 67 400
Asia 222 105 13 (214) 31 157
Other 6 3 (3) (2) — 4
Total CLL 1,945 584 (91) (1,202) 214 1,450
Energy Financial Services 22 — (1) (4) 9 26
GECAS 20 — — (3) — 17
Other 5823 —(47) 337
Total Commercial 2,045 607 (92) (1,256) 226 1,530
REAL ESTATE
Debt 1,292 242 2 (603) 16 949
Business Properties 196 82 — (144) 6 140
Total Real Estate 1,488 324 2 (747) 22 1,089
CONSUMER
Non-U.S. residential mortgages 689 117 (13) (296) 49 546
Non-U.S. installment and revolving credit 937 490 (30) (1,257) 577 717
U.S. installment and revolving credit 2,333 2,241 1 (3,095) 528 2,008
Non-U.S. auto 168 30 (4) (216) 123 101
Other 259 142 (20) (272) 90 199
Total Consumer 4,386 3,020 (66) (5,136) 1,367 3,571
Total $7,919 $3,951 $(156) $(7,139) $1,615 $6,190
(a) Included a provision of $77 million at Consumer related to the July 1, 2011 adoption of ASU 2011-02.
(b) Other primarily included transfers to held-for-sale and the effects of currency exchange.
(c) Net write-offs (gross write-offs less recoveries) in certain portfolios may exceed the beginning allowance for losses as our revolving credit portfolios turn over more than
once per year or, in all portfolios, can reflect losses that are incurred subsequent to the beginning of the fiscal year due to information becoming available during the
current year, which may identify further deterioration on existing financing receivables.