| December 31 (In millions) | 2004 (Restated) |
2003 (Restated) |
||||
|---|---|---|---|---|---|---|
| GE | ||||||
| Investments | ||||||
| Associated companies(a) | $ | 1,830 | $ | 1,348 | ||
| Other(b) | 3,974 | 1,228 | ||||
| 5,804 | 2,576 | |||||
| Prepaid pension asset – principal plans | 17,629 | 17,038 | ||||
| Contract costs and estimated earnings | 4,089 | 3,634 | ||||
| Film and television costs | 3,441 | 1,582 | ||||
| Long-term receivables, including notes | 2,821 | 1,932 | ||||
| Derivative instruments(c) | 628 | 454 | ||||
| Other | 3,711 | 3,232 | ||||
| 38,123 | 30,448 | |||||
| GECS | ||||||
| Investments | ||||||
| Associated companies(a) | 11,048 | 13,218 | ||||
| Real estate(d) | 19,190 | 15,573 | ||||
| Assets held for sale(e) | 6,501 | 1,856 | ||||
| Securities lending transactions | 3,202 | 3,026 | ||||
| Other(f) | 6,699 | 6,263 | ||||
| 46,640 | 39,936 | |||||
| Separate accounts | 8,959 | 8,316 | ||||
| Deferred acquisition costs | 8,180 | 7,879 | ||||
| Derivative instruments(c) | 3,038 | 1,888 | ||||
| Other | 6,077 | 5,092 | ||||
| 72,894 | 63,111 | |||||
| ELIMINATIONS | (1,138 | ) | (963 | ) | ||
| Total(g) | $ | 109,879 | $ | 92,596 | ||
| (a) | Included advances to associated companies, which are non-controlled, non-consolidated equity investments. |
| (b) | Included cost method investments of $1,780 million in 2004, of which the fair value and unrealized loss of those in a continuous loss position for less than 12 months was $373 million and $34 million, respectively. Cost method investments were each evaluated for impairment. Also included available-for-sale securities of $1,200 million in 2004, of which the unrealized loss of those in a continuous unrealized loss position for less than 12 months was $111 million. |
| (c) | Amounts are stated at fair value in accordance with SFAS 133, Accounting for Derivative Instruments and Hedging Activities, as amended. We discuss types of derivative instruments and how we use them in note 28. |
| (d) | GECS investment in real estate consists principally of two categories: real estate held for investment and equity method investments. Both categories contained a wide range of properties including the following at December 31, 2004: office buildings (46%), apartment buildings (16%), self storage facilities (11%), retail facilities (10%), industrial properties (6%), parking facilities (5%), franchise properties (3%) and other (3%). At December 31, 2004, investments were located in Europe (45%), North America (41%) and Asia (14%). |
| (e) | These assets held for sale were accounted for at the lower of carrying amount or each asset’s estimated fair value less costs to sell. |
| (f) | Included cost method investments of $2,626 million in 2004, of which the fair value and unrealized loss of those in a continuous loss position for less than 12 months was $111 million and $31 million, respectively. The fair value and unrealized loss of those in a continuous loss position for 12 months or more was $56 million and $42 million, respectively. Cost method investments were each evaluated for impairment. |
| (g) | Included $2,408 million in 2004 and $2,352 million in 2003 related to consolidated, liquidating securitization entities. |
Separate accounts represent investments controlled by policyholders and are associated with identical amounts reported as insurance liabilities in note 19.
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