Income Statement
Income Statement (USD $) | |||
12 Months Ended
Dec. 31, 2008 Consolidated | 12 Months Ended
Dec. 31, 2007 Consolidated | 12 Months Ended
Dec. 31, 2006 Consolidated | |
Consolidated | |||
Preferred Stock Dividends and Other Adjustments | |||
Preferred stock dividends declared | ($75,000,000) | $0 | $0 |
REVENUES | |||
Sales of goods | 69,100,000,000 | 60,670,000,000 | 55,181,000,000 |
Sales of services | 43,669,000,000 | 38,856,000,000 | 36,329,000,000 |
Other income (Note 3) | 1,586,000,000 | 3,019,000,000 | 2,154,000,000 |
GECS earnings from continuing operations | 0 | 0 | 0 |
GECS revenues from services (Note 4) | 68,160,000,000 | 69,943,000,000 | 57,904,000,000 |
Total revenues | 182,515,000,000 | 172,488,000,000 | 151,568,000,000 |
COSTS AND EXPENSES (Note 5) | |||
Cost of goods sold | 54,602,000,000 | 47,309,000,000 | 43,279,000,000 |
Cost of services sold | 29,170,000,000 | 25,816,000,000 | 23,494,000,000 |
Interest and other financial charges | 26,209,000,000 | 23,762,000,000 | 18,879,000,000 |
Investment contracts, insurance losses and insurance annuity benefits | 3,213,000,000 | 3,469,000,000 | 3,213,000,000 |
Provision for losses on financing receivables (Note 13) | 7,518,000,000 | 4,431,000,000 | 3,062,000,000 |
Other costs and expenses | 42,021,000,000 | 40,173,000,000 | 35,491,000,000 |
Minority interest in net earnings of consolidated affiliates | 641,000,000 | 916,000,000 | 862,000,000 |
Total costs and expenses | 163,374,000,000 | 145,876,000,000 | 128,280,000,000 |
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 19,141,000,000 | 26,612,000,000 | 23,288,000,000 |
Provision for income taxes (Note 7) | (1,052,000,000) | (4,155,000,000) | (3,944,000,000) |
EARNINGS FROM CONTINUING OPERATIONS | 18,089,000,000 | 22,457,000,000 | 19,344,000,000 |
Earnings (loss) from discontinued operations, net of taxes (Note 2) | (679,000,000) | (249,000,000) | 1,398,000,000 |
NET EARNINGS | 17,410,000,000 | 22,208,000,000 | 20,742,000,000 |
Preferred stock dividends declared | (75,000,000) | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS | 17,335,000,000 | 22,208,000,000 | 20,742,000,000 |
Earnings from continuing operations | |||
Diluted earnings per share | 1.78 | 2.2 | 1.86 |
Basic earnings per share | 1.79 | 2.21 | 1.87 |
Net earnings | |||
Diluted earnings per share | 1.72 | 2.17 | $2 |
Basic earnings per share | 1.72 | 2.18 | $2 |
DIVIDENDS DECLARED PER SHARE COMMON SHARE | 1.24 | 1.15 | 1.03 |
GE | |||
Preferred Stock Dividends and Other Adjustments | |||
Preferred stock dividends declared | (75,000,000) | 0 | 0 |
REVENUES | |||
Sales of goods | 67,637,000,000 | 60,374,000,000 | 53,221,000,000 |
Sales of services | 44,377,000,000 | 39,422,000,000 | 36,698,000,000 |
Other income (Note 3) | 1,965,000,000 | 3,371,000,000 | 2,307,000,000 |
GECS earnings from continuing operations | 7,774,000,000 | 12,417,000,000 | 10,219,000,000 |
GECS revenues from services (Note 4) | 0 | 0 | 0 |
Total revenues | 121,753,000,000 | 115,584,000,000 | 102,445,000,000 |
COSTS AND EXPENSES (Note 5) | |||
Cost of goods sold | 53,395,000,000 | 47,103,000,000 | 41,501,000,000 |
Cost of services sold | 29,878,000,000 | 26,382,000,000 | 23,863,000,000 |
Interest and other financial charges | 2,153,000,000 | 1,993,000,000 | 1,668,000,000 |
Investment contracts, insurance losses and insurance annuity benefits | 0 | 0 | 0 |
Provision for losses on financing receivables (Note 13) | 0 | 0 | 0 |
Other costs and expenses | 14,401,000,000 | 14,148,000,000 | 12,893,000,000 |
Minority interest in net earnings of consolidated affiliates | 410,000,000 | 707,000,000 | 624,000,000 |
Total costs and expenses | 100,237,000,000 | 90,333,000,000 | 80,549,000,000 |
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 21,516,000,000 | 25,251,000,000 | 21,896,000,000 |
Provision for income taxes (Note 7) | (3,427,000,000) | (2,794,000,000) | (2,552,000,000) |
EARNINGS FROM CONTINUING OPERATIONS | 18,089,000,000 | 22,457,000,000 | 19,344,000,000 |
Earnings (loss) from discontinued operations, net of taxes (Note 2) | (679,000,000) | (249,000,000) | 1,398,000,000 |
NET EARNINGS | 17,410,000,000 | 22,208,000,000 | 20,742,000,000 |
Preferred stock dividends declared | (75,000,000) | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS | 17,335,000,000 | 22,208,000,000 | 20,742,000,000 |
GECS | |||
Preferred Stock Dividends and Other Adjustments | |||
Preferred stock dividends declared | 0 | 0 | 0 |
REVENUES | |||
Sales of goods | 1,773,000,000 | 718,000,000 | 2,384,000,000 |
Sales of services | 0 | 0 | 0 |
Other income (Note 3) | 0 | 0 | 0 |
GECS earnings from continuing operations | 0 | 0 | 0 |
GECS revenues from services (Note 4) | 69,514,000,000 | 71,218,000,000 | 58,967,000,000 |
Total revenues | 71,287,000,000 | 71,936,000,000 | 61,351,000,000 |
COSTS AND EXPENSES (Note 5) | |||
Cost of goods sold | 1,517,000,000 | 628,000,000 | 2,204,000,000 |
Cost of services sold | 0 | 0 | 0 |
Interest and other financial charges | 25,116,000,000 | 22,706,000,000 | 17,840,000,000 |
Investment contracts, insurance losses and insurance annuity benefits | 3,421,000,000 | 3,647,000,000 | 3,419,000,000 |
Provision for losses on financing receivables (Note 13) | 7,518,000,000 | 4,431,000,000 | 3,062,000,000 |
Other costs and expenses | 28,085,000,000 | 26,537,000,000 | 22,977,000,000 |
Minority interest in net earnings of consolidated affiliates | 231,000,000 | 209,000,000 | 238,000,000 |
Total costs and expenses | 65,888,000,000 | 58,158,000,000 | 49,740,000,000 |
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 5,399,000,000 | 13,778,000,000 | 11,611,000,000 |
Provision for income taxes (Note 7) | 2,375,000,000 | (1,361,000,000) | (1,392,000,000) |
EARNINGS FROM CONTINUING OPERATIONS | 7,774,000,000 | 12,417,000,000 | 10,219,000,000 |
Earnings (loss) from discontinued operations, net of taxes (Note 2) | (719,000,000) | (2,116,000,000) | 439,000,000 |
NET EARNINGS | 7,055,000,000 | 10,301,000,000 | 10,658,000,000 |
Preferred stock dividends declared | 0 | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS | $7,055,000,000 | $10,301,000,000 | $10,658,000,000 |
Statement of Cash Flows
Statement of Cash Flows (USD $) | |||
12 Months Ended
Dec. 31, 2008 Consolidated | 12 Months Ended
Dec. 31, 2007 Consolidated | 12 Months Ended
Dec. 31, 2006 Consolidated | |
Consolidated | |||
CASH FLOWS -- OPERATING ACTIVITIES | |||
Net earnings | $17,410,000,000 | $22,208,000,000 | $20,742,000,000 |
Loss (earnings) from discontinued operations | 679,000,000 | 249,000,000 | (1,398,000,000) |
Adjustments to reconcile net earnings to cash provided from operating activities | |||
Depreciation and amortization of property, plant and equipment | 11,492,000,000 | 10,275,000,000 | 8,457,000,000 |
Earnings from continuing operations retained by GECS | 0 | 0 | 0 |
Deferred income taxes | (1,284,000,000) | 657,000,000 | 1,639,000,000 |
Decrease (increase) in GE current receivables | (24,000,000) | (868,000,000) | (2,194,000,000) |
Decrease (increase) in inventories | (719,000,000) | (1,562,000,000) | (1,514,000,000) |
Increase (decrease) in accounts payable | (1,078,000,000) | (997,000,000) | (276,000,000) |
Increase in GE progress collections | 2,827,000,000 | 4,622,000,000 | 642,000,000 |
Provision for losses on GECS financing receivables | 7,518,000,000 | 4,431,000,000 | 3,062,000,000 |
All other operating activities | 11,020,000,000 | 927,000,000 | 3,352,000,000 |
Cash from operating activities - continuing operations | 47,841,000,000 | 39,942,000,000 | 32,512,000,000 |
Cash from (used for) operating activities - discontinued operations | 760,000,000 | 3,380,000,000 | (1,057,000,000) |
CASH FROM OPERATING ACTIVITIES | 48,601,000,000 | 43,322,000,000 | 31,455,000,000 |
CASH FLOWS -- INVESTING ACTIVITIES | |||
Additions to property, plant and equipment | (16,010,000,000) | (17,803,000,000) | (15,788,000,000) |
Dispositions of property, plant and equipment | 10,975,000,000 | 8,457,000,000 | 6,795,000,000 |
Net increase in GECS financing receivables | (17,484,000,000) | (44,237,000,000) | (37,146,000,000) |
Proceeds from sales of discontinued operations | 5,423,000,000 | 11,574,000,000 | 11,009,000,000 |
Proceeds from principal business dispositions | 4,986,000,000 | 2,746,000,000 | 1,883,000,000 |
Payments for principal businesses purchased | (28,110,000,000) | (17,215,000,000) | (11,573,000,000) |
All other investing activities | 195,000,000 | (9,910,000,000) | (6,053,000,000) |
Cash used for investing activities - continuing operations | (40,025,000,000) | (66,388,000,000) | (50,873,000,000) |
Cash from (used for) investing activities - discontinued operations | (876,000,000) | (3,116,000,000) | (1,774,000,000) |
CASH USED FOR INVESTING ACTIVITIES | (40,901,000,000) | (69,504,000,000) | (52,647,000,000) |
CASH FLOWS -- FINANCING ACTIVITIES | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | (34,221,000,000) | 2,063,000,000 | 4,969,000,000 |
Newly issued debt (maturities longer than 90 days) | 122,959,000,000 | 100,869,000,000 | 88,364,000,000 |
Repayments and other reductions (maturities longer than 90 days) | (69,050,000,000) | (49,826,000,000) | (49,346,000,000) |
Proceeds from issuance of preferred stock and warrants | 2,965,000,000 | 0 | 0 |
Proceeds from issuance of common stock | 12,006,000,000 | 0 | 0 |
Net purchases of GE shares for treasury | (1,249,000,000) | (12,319,000,000) | (8,554,000,000) |
Dividends paid to shareowners | (12,408,000,000) | (11,492,000,000) | (10,420,000,000) |
All other financing activities | 3,638,000,000 | (1,204,000,000) | (1,174,000,000) |
Cash from (used for) financing activities - continuing operations | 24,640,000,000 | 28,091,000,000 | 23,839,000,000 |
Cash from (used for) financing activities - discontinued operations | (4,000,000) | (154,000,000) | (172,000,000) |
CASH FROM (USED FOR) FINANCING ACTIVITIES | 24,636,000,000 | 27,937,000,000 | 23,667,000,000 |
INCREASE (DECREASE) IN CASH AND EQUIVALENTS DURING YEAR | 32,336,000,000 | 1,755,000,000 | 2,475,000,000 |
Cash and equivalents at beginning of year | 16,031,000,000 | 14,276,000,000 | 11,801,000,000 |
Cash and equivalents at end of year | 48,367,000,000 | 16,031,000,000 | 14,276,000,000 |
Less cash and equivalents of discontinued operations at end of year | 180,000,000 | 300,000,000 | 190,000,000 |
Cash and equivalents of continuing operations at end of year | 48,187,000,000 | 15,731,000,000 | 14,086,000,000 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION | |||
Cash paid during the year for interest | (25,853,000,000) | (23,340,000,000) | (18,438,000,000) |
Cash recovered (paid) during the year for income taxes | (3,237,000,000) | (2,912,000,000) | (2,869,000,000) |
GE | |||
CASH FLOWS -- OPERATING ACTIVITIES | |||
Net earnings | 17,410,000,000 | 22,208,000,000 | 20,742,000,000 |
Loss (earnings) from discontinued operations | 679,000,000 | 249,000,000 | (1,398,000,000) |
Adjustments to reconcile net earnings to cash provided from operating activities | |||
Depreciation and amortization of property, plant and equipment | 2,162,000,000 | 2,149,000,000 | 1,953,000,000 |
Earnings from continuing operations retained by GECS | (5,423,000,000) | (5,126,000,000) | (372,000,000) |
Deferred income taxes | (417,000,000) | 564,000,000 | 703,000,000 |
Decrease (increase) in GE current receivables | (168,000,000) | 14,000,000 | 760,000,000 |
Decrease (increase) in inventories | (524,000,000) | (1,496,000,000) | (1,458,000,000) |
Increase (decrease) in accounts payable | 233,000,000 | (1,073,000,000) | 289,000,000 |
Increase in GE progress collections | 2,896,000,000 | 4,620,000,000 | 927,000,000 |
Provision for losses on GECS financing receivables | 0 | 0 | 0 |
All other operating activities | 2,238,000,000 | 1,192,000,000 | 1,626,000,000 |
Cash from operating activities - continuing operations | 19,086,000,000 | 23,301,000,000 | 23,772,000,000 |
Cash from (used for) operating activities - discontinued operations | (5,000,000) | (857,000,000) | 855,000,000 |
CASH FROM OPERATING ACTIVITIES | 19,081,000,000 | 22,444,000,000 | 24,627,000,000 |
CASH FLOWS -- INVESTING ACTIVITIES | |||
Additions to property, plant and equipment | (2,996,000,000) | (2,968,000,000) | (2,913,000,000) |
Dispositions of property, plant and equipment | 0 | 0 | 0 |
Net increase in GECS financing receivables | 0 | 0 | 0 |
Proceeds from sales of discontinued operations | 203,000,000 | 10,826,000,000 | 1,987,000,000 |
Proceeds from principal business dispositions | 58,000,000 | 1,047,000,000 | 1,497,000,000 |
Payments for principal businesses purchased | (3,149,000,000) | (9,645,000,000) | (4,274,000,000) |
All other investing activities | (5,176,000,000) | (1,697,000,000) | 100,000,000 |
Cash used for investing activities - continuing operations | (11,060,000,000) | (2,437,000,000) | (3,603,000,000) |
Cash from (used for) investing activities - discontinued operations | 5,000,000 | 1,003,000,000 | (914,000,000) |
CASH USED FOR INVESTING ACTIVITIES | (11,055,000,000) | (1,434,000,000) | (4,517,000,000) |
CASH FLOWS -- FINANCING ACTIVITIES | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | (2,152,000,000) | (3,284,000,000) | 1,233,000,000 |
Newly issued debt (maturities longer than 90 days) | 136,000,000 | 8,751,000,000 | 130,000,000 |
Repayments and other reductions (maturities longer than 90 days) | (1,936,000,000) | (298,000,000) | (93,000,000) |
Proceeds from issuance of preferred stock and warrants | 2,965,000,000 | 0 | 0 |
Proceeds from issuance of common stock | 12,006,000,000 | 0 | 0 |
Net purchases of GE shares for treasury | (1,249,000,000) | (12,319,000,000) | (8,554,000,000) |
Dividends paid to shareowners | (12,408,000,000) | (11,492,000,000) | (10,420,000,000) |
All other financing activities | 0 | 0 | 0 |
Cash from (used for) financing activities - continuing operations | (2,638,000,000) | (18,642,000,000) | (17,704,000,000) |
Cash from (used for) financing activities - discontinued operations | 0 | (146,000,000) | 59,000,000 |
CASH FROM (USED FOR) FINANCING ACTIVITIES | (2,638,000,000) | (18,788,000,000) | (17,645,000,000) |
INCREASE (DECREASE) IN CASH AND EQUIVALENTS DURING YEAR | 5,388,000,000 | 2,222,000,000 | 2,465,000,000 |
Cash and equivalents at beginning of year | 6,702,000,000 | 4,480,000,000 | 2,015,000,000 |
Cash and equivalents at end of year | 12,090,000,000 | 6,702,000,000 | 4,480,000,000 |
Less cash and equivalents of discontinued operations at end of year | 0 | 0 | 0 |
Cash and equivalents of continuing operations at end of year | 12,090,000,000 | 6,702,000,000 | 4,480,000,000 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION | |||
Cash paid during the year for interest | (1,190,000,000) | (1,466,000,000) | (1,343,000,000) |
Cash recovered (paid) during the year for income taxes | (2,627,000,000) | (4,036,000,000) | (2,203,000,000) |
GECS | |||
CASH FLOWS -- OPERATING ACTIVITIES | |||
Net earnings | 7,055,000,000 | 10,301,000,000 | 10,658,000,000 |
Loss (earnings) from discontinued operations | 719,000,000 | 2,116,000,000 | (439,000,000) |
Adjustments to reconcile net earnings to cash provided from operating activities | |||
Depreciation and amortization of property, plant and equipment | 9,330,000,000 | 8,126,000,000 | 6,504,000,000 |
Earnings from continuing operations retained by GECS | 0 | 0 | 0 |
Deferred income taxes | (867,000,000) | 93,000,000 | 936,000,000 |
Decrease (increase) in GE current receivables | 0 | 0 | 0 |
Decrease (increase) in inventories | (14,000,000) | 2,000,000 | (23,000,000) |
Increase (decrease) in accounts payable | (1,045,000,000) | 485,000,000 | (154,000,000) |
Increase in GE progress collections | 0 | 0 | 0 |
Provision for losses on GECS financing receivables | 7,518,000,000 | 4,431,000,000 | 3,062,000,000 |
All other operating activities | 8,508,000,000 | (539,000,000) | 1,035,000,000 |
Cash from operating activities - continuing operations | 31,204,000,000 | 25,015,000,000 | 21,579,000,000 |
Cash from (used for) operating activities - discontinued operations | 765,000,000 | 4,039,000,000 | (2,041,000,000) |
CASH FROM OPERATING ACTIVITIES | 31,969,000,000 | 29,054,000,000 | 19,538,000,000 |
CASH FLOWS -- INVESTING ACTIVITIES | |||
Additions to property, plant and equipment | (13,321,000,000) | (15,217,000,000) | (13,168,000,000) |
Dispositions of property, plant and equipment | 10,975,000,000 | 8,457,000,000 | 6,795,000,000 |
Net increase in GECS financing receivables | (17,375,000,000) | (44,164,000,000) | (40,270,000,000) |
Proceeds from sales of discontinued operations | 5,220,000,000 | 117,000,000 | 9,022,000,000 |
Proceeds from principal business dispositions | 4,928,000,000 | 1,699,000,000 | 386,000,000 |
Payments for principal businesses purchased | (24,961,000,000) | (7,570,000,000) | (7,299,000,000) |
All other investing activities | 5,979,000,000 | (8,730,000,000) | (5,995,000,000) |
Cash used for investing activities - continuing operations | (28,555,000,000) | (65,408,000,000) | (50,529,000,000) |
Cash from (used for) investing activities - discontinued operations | (881,000,000) | (3,921,000,000) | (731,000,000) |
CASH USED FOR INVESTING ACTIVITIES | (29,436,000,000) | (69,329,000,000) | (51,260,000,000) |
CASH FLOWS -- FINANCING ACTIVITIES | |||
Net increase (decrease) in borrowings (maturities of 90 days or less) | (31,282,000,000) | 3,397,000,000 | 6,470,000,000 |
Newly issued debt (maturities longer than 90 days) | 122,507,000,000 | 92,019,000,000 | 88,280,000,000 |
Repayments and other reductions (maturities longer than 90 days) | (67,114,000,000) | (49,528,000,000) | (49,253,000,000) |
Proceeds from issuance of preferred stock and warrants | 0 | 0 | 0 |
Proceeds from issuance of common stock | 0 | 0 | 0 |
Net purchases of GE shares for treasury | 0 | 0 | 0 |
Dividends paid to shareowners | (2,351,000,000) | (7,291,000,000) | (9,847,000,000) |
All other financing activities | 3,638,000,000 | (1,204,000,000) | (1,174,000,000) |
Cash from (used for) financing activities - continuing operations | 25,398,000,000 | 37,393,000,000 | 34,476,000,000 |
Cash from (used for) financing activities - discontinued operations | (4,000,000) | (8,000,000) | (231,000,000) |
CASH FROM (USED FOR) FINANCING ACTIVITIES | 25,394,000,000 | 37,385,000,000 | 34,245,000,000 |
INCREASE (DECREASE) IN CASH AND EQUIVALENTS DURING YEAR | 27,927,000,000 | (2,890,000,000) | 2,523,000,000 |
Cash and equivalents at beginning of year | 9,739,000,000 | 12,629,000,000 | 10,106,000,000 |
Cash and equivalents at end of year | 37,666,000,000 | 9,739,000,000 | 12,629,000,000 |
Less cash and equivalents of discontinued operations at end of year | 180,000,000 | 300,000,000 | 190,000,000 |
Cash and equivalents of continuing operations at end of year | 37,486,000,000 | 9,439,000,000 | 12,439,000,000 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION | |||
Cash paid during the year for interest | (24,663,000,000) | (21,874,000,000) | (17,095,000,000) |
Cash recovered (paid) during the year for income taxes | ($610,000,000) | $1,124,000,000 | ($666,000,000) |
Statement of Financial Position
Statement of Financial Position (USD $) | ||
Dec. 31, 2008
Consolidated | Dec. 31, 2007
Consolidated | |
Consolidated | ||
ASSETS | ||
Cash and equivalents | $48,187,000,000 | $15,731,000,000 |
Investment securities (Note 9) | 41,446,000,000 | 45,276,000,000 |
Current receivables (Note 10) | 21,411,000,000 | 22,259,000,000 |
Inventories (Note 11) | 13,674,000,000 | 12,897,000,000 |
Financing receivables - net (Notes 12 and 13) | 365,168,000,000 | 376,123,000,000 |
Other GECS receivables | 13,439,000,000 | 16,514,000,000 |
Property, plant and equipment - net (Note 14) | 78,530,000,000 | 77,888,000,000 |
Investment in GECS | 0 | 0 |
Goodwill (Note 15) | 81,759,000,000 | 81,116,000,000 |
Other Intangible assets - net (Note 15) | 14,977,000,000 | 16,142,000,000 |
All other assets (Note 16) | 106,899,000,000 | 122,848,000,000 |
Assets of businesses held for sale (Note 17) | 10,556,000,000 | 0 |
Assets of discontinued operations (Note 2) | 1,723,000,000 | 8,889,000,000 |
Total assets | 797,769,000,000 | 795,683,000,000 |
LIABILITIES AND EQUITY | ||
Short-term borrowings (Note 18) | 193,695,000,000 | 195,100,000,000 |
Accounts payable, principally trade accounts | 20,819,000,000 | 21,338,000,000 |
Progress collections and price adjustments accrued | 12,536,000,000 | 9,885,000,000 |
Dividends payable | 3,340,000,000 | 3,100,000,000 |
Other GE current liabilities | 18,220,000,000 | 15,816,000,000 |
Long-term borrowings (Note 18) | 330,067,000,000 | 319,013,000,000 |
Investment contracts, insurance liabilities and insurance annuity benefits (Note 19) | 34,032,000,000 | 34,068,000,000 |
All other liabilities (Note 20) | 64,796,000,000 | 59,316,000,000 |
Deferred income taxes (Note 21) | 4,584,000,000 | 12,490,000,000 |
Liabilities of businesses held for sale (Note 17) | 636,000,000 | 0 |
Liabilities of discontinued operations (Note 2) | 1,432,000,000 | 1,994,000,000 |
Total liabilities | 684,157,000,000 | 672,120,000,000 |
Minority interest in equity of consolidated affiliates (Note 22) | 8,947,000,000 | 8,004,000,000 |
Preferred stock (30,000 and 0 shares outstanding at year-end 2008 and 2007, respectively) | 0 | 0 |
Common stock (10,536,897,000 and 9,987,599,000 shares outstanding at year-end 2008 and 2007, respectively) | 702,000,000 | 669,000,000 |
Investment securities | (3,094,000,000) | 124,000,000 |
Currency translation adjustments | (299,000,000) | 10,708,000,000 |
Cash flow hedges | (3,332,000,000) | (668,000,000) |
Benefit plans | (15,128,000,000) | (1,840,000,000) |
Other capital | 40,390,000,000 | 26,100,000,000 |
Retained earnings | 122,123,000,000 | 117,362,000,000 |
Less common stock held in treasury | (36,697,000,000) | (36,896,000,000) |
Total shareowners' equity (Notes 23 and 24) | 104,665,000,000 | 115,559,000,000 |
Total liabilities and equity | 797,769,000,000 | 795,683,000,000 |
GE | ||
ASSETS | ||
Cash and equivalents | 12,090,000,000 | 6,702,000,000 |
Investment securities (Note 9) | 213,000,000 | 343,000,000 |
Current receivables (Note 10) | 15,064,000,000 | 15,093,000,000 |
Inventories (Note 11) | 13,597,000,000 | 12,834,000,000 |
Financing receivables - net (Notes 12 and 13) | 0 | 0 |
Other GECS receivables | 0 | 0 |
Property, plant and equipment - net (Note 14) | 14,433,000,000 | 14,142,000,000 |
Investment in GECS | 53,279,000,000 | 57,676,000,000 |
Goodwill (Note 15) | 56,394,000,000 | 55,689,000,000 |
Other Intangible assets - net (Note 15) | 11,364,000,000 | 11,633,000,000 |
All other assets (Note 16) | 22,435,000,000 | 40,608,000,000 |
Assets of businesses held for sale (Note 17) | 0 | 0 |
Assets of discontinued operations (Note 2) | 64,000,000 | 66,000,000 |
Total assets | 198,933,000,000 | 214,786,000,000 |
LIABILITIES AND EQUITY | ||
Short-term borrowings (Note 18) | 2,375,000,000 | 4,106,000,000 |
Accounts payable, principally trade accounts | 11,699,000,000 | 11,120,000,000 |
Progress collections and price adjustments accrued | 13,058,000,000 | 10,374,000,000 |
Dividends payable | 3,340,000,000 | 3,100,000,000 |
Other GE current liabilities | 18,284,000,000 | 15,816,000,000 |
Long-term borrowings (Note 18) | 9,827,000,000 | 11,656,000,000 |
Investment contracts, insurance liabilities and insurance annuity benefits (Note 19) | 0 | 0 |
All other liabilities (Note 20) | 32,767,000,000 | 32,859,000,000 |
Deferred income taxes (Note 21) | (3,949,000,000) | 3,391,000,000 |
Liabilities of businesses held for sale (Note 17) | 0 | 0 |
Liabilities of discontinued operations (Note 2) | 189,000,000 | 302,000,000 |
Total liabilities | 87,590,000,000 | 92,724,000,000 |
Minority interest in equity of consolidated affiliates (Note 22) | 6,678,000,000 | 6,503,000,000 |
Preferred stock (30,000 and 0 shares outstanding at year-end 2008 and 2007, respectively) | 0 | 0 |
Common stock (10,536,897,000 and 9,987,599,000 shares outstanding at year-end 2008 and 2007, respectively) | 702,000,000 | 669,000,000 |
Investment securities | (3,094,000,000) | 124,000,000 |
Currency translation adjustments | (299,000,000) | 10,708,000,000 |
Cash flow hedges | (3,332,000,000) | (668,000,000) |
Benefit plans | (15,128,000,000) | (1,840,000,000) |
Other capital | 40,390,000,000 | 26,100,000,000 |
Retained earnings | 122,123,000,000 | 117,362,000,000 |
Less common stock held in treasury | (36,697,000,000) | (36,896,000,000) |
Total shareowners' equity (Notes 23 and 24) | 104,665,000,000 | 115,559,000,000 |
Total liabilities and equity | 198,933,000,000 | 214,786,000,000 |
GECS | ||
ASSETS | ||
Cash and equivalents | 37,486,000,000 | 9,439,000,000 |
Investment securities (Note 9) | 41,236,000,000 | 44,941,000,000 |
Current receivables (Note 10) | 0 | 0 |
Inventories (Note 11) | 77,000,000 | 63,000,000 |
Financing receivables - net (Notes 12 and 13) | 372,456,000,000 | 384,067,000,000 |
Other GECS receivables | 18,636,000,000 | 22,078,000,000 |
Property, plant and equipment - net (Note 14) | 64,097,000,000 | 63,746,000,000 |
Investment in GECS | 0 | 0 |
Goodwill (Note 15) | 25,365,000,000 | 25,427,000,000 |
Other Intangible assets - net (Note 15) | 3,613,000,000 | 4,509,000,000 |
All other assets (Note 16) | 85,721,000,000 | 83,392,000,000 |
Assets of businesses held for sale (Note 17) | 10,556,000,000 | 0 |
Assets of discontinued operations (Note 2) | 1,659,000,000 | 8,823,000,000 |
Total assets | 660,902,000,000 | 646,485,000,000 |
LIABILITIES AND EQUITY | ||
Short-term borrowings (Note 18) | 193,533,000,000 | 192,420,000,000 |
Accounts payable, principally trade accounts | 13,882,000,000 | 14,714,000,000 |
Progress collections and price adjustments accrued | 0 | 0 |
Dividends payable | 0 | 0 |
Other GE current liabilities | 0 | 0 |
Long-term borrowings (Note 18) | 321,068,000,000 | 308,502,000,000 |
Investment contracts, insurance liabilities and insurance annuity benefits (Note 19) | 34,369,000,000 | 34,359,000,000 |
All other liabilities (Note 20) | 32,090,000,000 | 26,522,000,000 |
Deferred income taxes (Note 21) | 8,533,000,000 | 9,099,000,000 |
Liabilities of businesses held for sale (Note 17) | 636,000,000 | 0 |
Liabilities of discontinued operations (Note 2) | 1,243,000,000 | 1,692,000,000 |
Total liabilities | 605,354,000,000 | 587,308,000,000 |
Minority interest in equity of consolidated affiliates (Note 22) | 2,269,000,000 | 1,501,000,000 |
Preferred stock (30,000 and 0 shares outstanding at year-end 2008 and 2007, respectively) | 0 | 0 |
Common stock (10,536,897,000 and 9,987,599,000 shares outstanding at year-end 2008 and 2007, respectively) | 1,000,000 | 1,000,000 |
Investment securities | (3,097,000,000) | 110,000,000 |
Currency translation adjustments | (1,258,000,000) | 7,472,000,000 |
Cash flow hedges | (3,134,000,000) | (727,000,000) |
Benefit plans | (367,000,000) | (105,000,000) |
Other capital | 18,079,000,000 | 12,574,000,000 |
Retained earnings | 43,055,000,000 | 38,351,000,000 |
Less common stock held in treasury | 0 | 0 |
Total shareowners' equity (Notes 23 and 24) | 53,279,000,000 | 57,676,000,000 |
Total liabilities and equity | $660,902,000,000 | $646,485,000,000 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Consolidated, USD $) | |
Total
| |
CHANGES IN SHAREOWNERS' EQUITY (Note 23) | |
Balance at January 1 | $108,633,000,000 |
Dividends and other transactions with shareowners | (17,983,000,000) |
Other comprehensive income | |
Investment securities - net | (223,000,000) |
Currency translation adjustments - net | 3,649,000,000 |
Cash flow hedges - net | 223,000,000 |
Benefit plans - net | 287,000,000 |
Total other comprehensive income | 3,936,000,000 |
Increases attributable to net earnings | 20,742,000,000 |
Comprehensive income | 24,678,000,000 |
Cumulative effect of changes in accounting principles | (3,819,000,000) |
Balance at December 31 | 111,509,000,000 |
CHANGES IN SHAREOWNERS' EQUITY (Note 23) | |
Balance at January 1 | 111,509,000,000 |
Dividends and other transactions with shareowners | (23,102,000,000) |
Other comprehensive income | |
Investment securities - net | (1,484,000,000) |
Currency translation adjustments - net | 4,527,000,000 |
Cash flow hedges - net | (539,000,000) |
Benefit plans - net | 2,566,000,000 |
Total other comprehensive income | 5,070,000,000 |
Increases attributable to net earnings | 22,208,000,000 |
Comprehensive income | 27,278,000,000 |
Cumulative effect of changes in accounting principles | (126,000,000) |
Balance at December 31 | 115,559,000,000 |
CHANGES IN SHAREOWNERS' EQUITY (Note 23) | |
Balance at January 1 | 115,559,000,000 |
Dividends and other transactions with shareowners | 1,873,000,000 |
Other comprehensive income | |
Investment securities - net | (3,218,000,000) |
Currency translation adjustments - net | (11,007,000,000) |
Cash flow hedges - net | (2,664,000,000) |
Benefit plans - net | (13,288,000,000) |
Total other comprehensive income | (30,177,000,000) |
Increases attributable to net earnings | 17,410,000,000 |
Comprehensive income | (12,767,000,000) |
Cumulative effect of changes in accounting principles | 0 |
Balance at December 31 | $104,665,000,000 |
Uncategorized Items
Uncategorized Items (Consolidated) | |||
1/1/2008 - 12/31/2008
| 1/1/2007 - 12/31/2007
| 1/1/2006 - 12/31/2006
| |
Comprehensive Income Note | (12,767,000,000) | 27,278,000,000 | 24,678,000,000 |