| December 31 (In millions) | 2013 | 2012 | |||
| GE | |||||
| Investments | |||||
| Associated companies(a) | $ | 3,937 | $ | 22,169 | |
| Other | 626 | 445 | |||
| 4,563 | 22,614 | ||||
| Contract costs and estimated earnings(b) | 12,522 | 11,041 | |||
| Long-term receivables, including notes | 993 | 714 | |||
| Derivative instruments | 623 | 383 | |||
| Other | 5,007 | 4,782 | |||
| 23,708 | 39,534 | ||||
| GECC | |||||
| Investments | |||||
| Associated companies | 17,348 | 19,119 | |||
| Real estate(c)(d) | 16,163 | 25,154 | |||
| Assets held for sale(e) | 2,571 | 4,194 | |||
| Cost method(d) | 1,462 | 1,665 | |||
| Other | 930 | 1,446 | |||
| 38,474 | 51,578 | ||||
| Advances to suppliers | 2,328 | 1,805 | |||
| Derivative instruments | 1,117 | 3,557 | |||
| Deferred borrowing costs | 867 | 940 | |||
| Deferred acquisition costs(f) | 29 | 46 | |||
| Other | 4,551 | 4,260 | |||
| 47,366 | 62,186 | ||||
| Eliminations | (266) | (76) | |||
| Total | $ | 70,808 | $ | 101,644 | |
(a) Included our investment in NBCU LLC of $18,887 million at December 31, 2012. At December 31, 2012, we also had $4,937 million, of deferred tax liabilities related to this investment. See Note 14.
(b) Contract costs and estimated earnings reflect revenues earned in excess of billings on our long-term contracts to construct technically complex equipment (such as power generation, aircraft engines and aeroderivative units) and long-term product maintenance or extended warranty arrangements. These amounts are presented net of related billings in excess of revenues of $1,842 million and $1,498 million at December 31, 2013 and 2012, respectively.
(c) GECC investments in real estate consisted 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, 2013: office buildings (52%), apartment buildings (14%), retail facilities (9%), industrial properties (7%), franchise properties (3%) and other (15%). At December 31, 2013, investments were located in the Americas (41%), Europe (35%) and Asia (24%).
(d) The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2013, were $17 million and an insignificant amount, respectively. There were no cost method investments in a continuous loss position for 12 months or more at December 31, 2013. The fair value of and unrealized loss on cost method investments in a continuous loss position for less than 12 months at December 31, 2012, were $142 million and $37 million, respectively. The fair value of and unrealized loss on cost method investments in a continuous loss position for 12 months or more at December 31, 2012, were $2 million and an insignificant amount, respectively.
(e) Assets were classified as held for sale on the date a decision was made to dispose of them through sale or other means. At December 31, 2013 and 2012, such assets consisted primarily of loans, aircraft, equipment and real estate properties, and were accounted for at the lower of carrying amount or estimated fair value less costs to sell. These amounts are net of valuation allowances of $127 million and $200 million at December 31, 2013 and 2012, respectively.
(f) Balances at December 31, 2013 and 2012 reflect adjustments of $700 million and $764 million, respectively, to deferred acquisition costs in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized.