Summary
General Electric Company (GE) filed an 8-K on March 15, 2012, to disclose unaudited revised summary financial information for its GE Capital segment. This revision is a result of a segment reorganization that became effective upon the merger of its wholly owned subsidiaries, General Electric Capital Corporation (GECC) and General Electric Capital Services, Inc. (GECS). The merger involved GECS merging with and into its subsidiary GECC. The GE Capital segment will now include the run-off insurance operations previously held within GECS and reported under Corporate items and eliminations. The core businesses within GE Capital, namely Commercial Lending & Leasing, Consumer, Real Estate, Energy Financial Services, and GE Capital Aviation Services (GECAS), remain unchanged in their reporting and results. Importantly, this reorganization did not impact the financial results of GE's industrial segments.
Key Highlights
- 1GE is providing revised unaudited financial information for its GE Capital segment due to a segment reorganization.
- 2The reorganization stems from the merger of GE Capital Corporation (GECC) and GE Capital Services, Inc. (GECS).
- 3Run-off insurance operations from GECS are now included in GECC's Corporate items and eliminations within the GE Capital segment.
- 4The five core businesses within GE Capital (CLL, Consumer, Real Estate, Energy Financial Services, GECAS) are unaffected by the merger and their reported results remain the same.
- 5Financial results for GE's industrial segments (Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions) are also unaffected.
- 6This filing is for informational purposes under Regulation FD and the information is furnished, not deemed filed under Section 18 of the Exchange Act.