General Electric Co. (GE)

Analysis of Debt

Advanced level

General Electric Co., balance sheet: debt

US$ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Short-term borrowings	12,849	24,036	30,714	49,892	71,789
Non-recourse borrowings of consolidated securitization entities	1,875	1,980	417	3,083	29,938
Bank deposits	—	—	—	—	62,839
Long-term borrowings	95,234	108,575	105,080	145,301	200,414
Total borrowings, include interest rate and currency derivatives designated as hedges of borrowings (carrying amount)	109,958	134,591	136,211	198,276	364,980

Debt item	Description	The company
Total borrowings, include interest rate and currency derivatives designated as hedges of borrowings (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	General Electric Co.’s total debt decreased from 2016 to 2017 and from 2017 to 2018.

	Dec 31, 2018
Selected Financial Data (US$ in millions)
Borrowings	29,586
Borrowings, debt assumed	36,298
Total gE (fair value)	65,884
Borrowings	42,006
Interest rate and currency derivatives designated as hedges of borrowings	(1,300)
Total gE Capital (fair value)	40,706
Total borrowings, include interest rate and currency derivatives designated as hedges of borrowings (fair value)	106,590
Financial Ratio
Debt, fair value to carrying amount ratio	0.97

Weighted-average interest rate on debt: 3.40%

Interest Rate	Debt Amount¹	Interest Rate × Debt Amount
1.64%	3,005	49
6.60%	103	7
3.76%	4,207	158
2.00%	3,984	80
2.58%	26,628	687
4.30%	29,218	1,256
3.64%	2,836	103
3.49%	35,105	1,225
3.97%	1,875	74
Total	106,961	3,640
3.40%

¹ US$ in millions

² Weighted-average interest rate = 100 × 3,640 ÷ 106,961 = 3.40%