Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name General Electric Company
CIK 0000040545
Accession number 0000040554-14-000023
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/40545/000004055414000023/ge-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
December 31 (In millions) 2013  2012
      
GE     
Provision for expenses(a)$ 5,934 $ 6,503
Principal pension plans  3,436   6,567
Retiree insurance plans  3,154   3,800
Non-U.S. loss carryforwards(b)  874   942
Contract costs and estimated earnings  (3,550)   (3,087)
Intangible assets  (2,268)   (2,269)
Depreciation  (1,079)   (698)
Investment in global subsidiaries  (1,077)   (921)
Investment in NBCU LLC  -   (4,937)
Other – net  (363)   46
   5,061   5,946
GECC     
Operating leases  (6,284)   (6,141)
Financing leases  (4,075)   (4,506)
Intangible assets  (1,943)   (1,666)
Cash flow hedges  (163)   (115)
Net unrealized gains (losses) on securities  (145)   (314)
Non-U.S. loss carryforwards(b)  3,791   3,049
Allowance for losses  2,640   1,975
Investment in global subsidiaries  1,883   1,689
Other – net  (490)   29
   (4,786)   (6,000)
Net deferred income tax asset (liability)$ 275 $ (54)
      
      

(a)       Represented the tax effects of temporary differences related to expense accruals for a wide variety of items, such as employee compensation and benefits, other pension plan liabilities, interest on tax liabilities, product warranties and other sundry items that are not currently deductible.

(b)       Net of valuation allowances of $2,089 million and $1,712 million for GE and $862 million and $628 million for GECC, for 2013 and 2012, respectively. Of the net deferred tax asset as of December 31, 2013, of $4,665 million, $30 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2014, through December 31, 2016; $478 million relates to net operating losses that expire in various years ending from December 31, 2017 through December 31, 2030 and $4,157 million relates to net operating loss carryforwards that may be carried forward indefinitely.

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 275,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance 28,233,000,000
Deferred tax assets, net 28,508,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -28,233,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 275,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent 0 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 275,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 28,508,000,000
Deferred tax liabilities, net -28,233,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 275,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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