GE 2015 Annual Report Download - page 208

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FINANCIAL STATEMENTS 6+$5(2:1(56¶ EQUITY
180 GE 2015 FORM 10-K
December 31 (In millions) 2015 2014
GECC preferred stock $ - $ 4,949
Synchrony Financial - 2,531
Other noncontrolling interests in consolidated affiliates(a) 1,864 1,194
Total $ 1,864 $ 8,674
(a) Consisted of a number of individually insignificant noncontrolling interests in partnerships and consolidated affiliates. 2015 included $695
million related to the Alstom acquisition.
CHANGES TO NONCONTROLLING INTERESTS
(In millions) 2015 201
4
2013
Beginning balance $ 8,674 $ 6,217 $ 5,444
Net earnings 377 183 312
GECC preferred stock(a) (4,949) - 990
GECC preferred stock dividend (311) (322) (298)
Dividends (43) (74) (80)
Dispositions 189 (81) (175)
Synchrony Financial(b) (2,840) 2,393 -
Other (including AOCI)(c)(d) 767 358 24
Ending balance $ 1,864 $ 8,674 $ 6,217
(a) 2015 included $(4,949) million related to the issuance of GE preferred stock in exchange for existing GECC preferred stock. GE preferred
stock is reflected in VKDUHRZQHUV¶ equity in the consolidated Statement of Financial Position.
(b) 2015 related to the split-off on Synchrony Financial from GE, where GE shares were exchanged for shares of Synchrony Financial; 2014
related to the Synchrony Financial IPO.
(c) Includes research & development partner funding arrangements, acquisitions and eliminations.
(d) 2015 included $695 million related to the Alstom acquisition.
REDEEMABLE NONCONTROLLING INTEREST
Redeemable noncontrolling interest presented in our statement of financial position includes common shares issued by our affiliates
that are redeemable at the option of the holder of those interests.
As part of the Alstom acquisition, we formed three joint ventures in which the noncontrolling interests hold certain redemption rights.
These joint ventures and the associated redemption rights are discussed in Note 8. Our retained earnings will be adjusted for
subsequent changes in the redemption value of the noncontrolling interest in these entities to the extent that the redemption value
exceeds the carrying amount of the noncontrolling interest.
(In millions) 2015 201
4
2013
Beginning balance $ 98 $ 178 $ 214
Net earnings (46) (71) (14)
Dividends (11) (12) (14)
Dispositions 1 - -
Redemption value adjustment 25 2 1
Other(a) 2,905 1 (8)
Ending balance $ 2,972 $ 98 $ 178
(a) 2015 included $2,875 million related to joint ventures formed by GE and Alstom as part of the Alstom acquisition.
OTHER
Common dividends from GE Capital totaled $4,311 million, $2,000 million and $1,930 million to GE during 2015, 2014 and 2013,
respectively. GE Capital did not pay any special dividends to GE during 2015. GE Capital paid special dividends of $1,000 million and
$4,055 million to GE during 2014 and 2013, respectively.
180 GE 2015 FORM 10-K