General Electric 8K Results of Operations and Financial Condition | GE 21 Oct 16

Exhibit 99

GENERAL ELECTRIC COMPANY
CONDENSED STATEMENT OF EARNINGS (LOSS) (UNAUDITED)

	Consolidated					GE(a)					Financial Services (GE Capital)
Three months ended September 30	2016		2015		V%	2016		2015		V%	2016		2015		V%

Revenues and other income
Sales of goods and services	$	26,814	$	25,527	5%	$	26,934	$	25,612	5%	$	34	$	21	62%
Other income		227		169			213		201			-		-
GE Capital earnings (loss) from continuing operations		-		-			26		(154)			-		-
GE Capital revenues from services		2,224		2,332			-		-			2,566		2,639
Total revenues and other income		29,266		28,028	4%		27,172		25,659	6%		2,600		2,660	(2)%
Costs and expenses
Cost of sales		20,965		19,855			20,545		19,336			574		624
Selling, general and administrative expenses		4,343		4,258			3,880		3,549			631		861
Interest and other financial charges		961		897			483		440			617		586
Investment contracts, insurance losses and
insurance annuity benefits		684		673			-		-			700		714
Other costs and expenses		238		295			-		-			241		313
Total costs and expenses		27,191		25,978	5%		24,909		23,325	7%		2,763		3,098	(11)%
Earnings (loss) from continuing operations
before income taxes		2,074		2,050	1%		2,263		2,334	(3)%		(163)		(438)	63%
Benefit (provision) for income taxes		(18)		(135)			(241)		(413)			223		278
Earnings (loss) from continuing operations		2,056		1,915	7%		2,022		1,921	5%		60		(160)	F
Earnings (loss) from discontinued
operations, net of taxes		(105)		629			(103)		541			(105)		630
Net earnings (loss)		1,951		2,545	(23)%		1,918		2,462	(22)%		(45)		470	U
Less net earnings (loss) attributable to
noncontrolling interests		(76)		39			(76)		(43)			-		83
Net earnings (loss) attributable to the Company		2,027		2,506	(19)%		1,994		2,506	(20)%		(45)		387	U
Preferred stock dividends		(33)		-			-		-			(33)		-
Net earnings (loss) attributable to
GE common shareowners	$	1,994	$	2,506	(20)%	$	1,994	$	2,506	(20)%	$	(78)	$	387	U
Amounts attributable to GE common
shareowners:
Earnings (loss) from continuing operations	$	2,056	$	1,915	7%	$	2,022	$	1,921	5%	$	60	$	(160)	F
Less net earnings (loss) attributable
to noncontrolling interests, continuing operations		(74)		(50)			(76)		(43)			1		(6)
Earnings (loss) from continuing operations
attributable to the Company		2,131		1,965	8%		2,097		1,965	7%		59		(154)	F
Preferred stock dividends		(33)		-			-		-			(33)		-
Earnings (loss) from continuing operations
attributable to GE common shareowners		2,097		1,965	7%		2,097		1,965	7%		26		(154)	F
Earnings (loss) from discontinued
operations, net of taxes		(105)		629			(103)		541			(105)		630
Less net earnings (loss) attributable to
noncontrolling interests, discontinued operations		(2)		89			-		-			(2)		89
Net earnings (loss) attributable to GE
common shareowners	$	1,994	$	2,506	(20)%	$	1,994	$	2,506	(20)%	$	(78)	$	387	U
				–					#REF!					#REF!
Per-share amounts - earnings (loss) from
continuing operations
Diluted earnings (loss) per share	$	0.23	$	0.19	21%
Basic earnings (loss) per share	$	0.24	$	0.19	26%
Per-share amounts - net earnings (loss)
Diluted earnings (loss) per share	$	0.22	$	0.25	(12)%
Basic earnings (loss) per share	$	0.22	$	0.25	(12)%
Total average equivalent shares
Diluted		9,016		10,173	(11)%
Basic		8,904		10,103	(12)%
Dividends declared per common share	$	0.23	$	0.23	-%

(a)	Represents the adding together of all affiliated companies except GE Capital, which is presented on a one-line basis.

Amounts may not add due to rounding. Dollar amounts and share amounts in millions; per-share amounts in dollars.

"GE Capital" means GE Capital Global Holdings, LLC (GECGH) and its predecessor General Electric Capital Corporation (GECC) and all of their affiliates and associated companies. Separate information is shown for "GE" and "Financial Services (GE Capital)." Transactions between GE and GE Capital have been eliminated from the "Consolidated" column. See Note 1 to the 2015 consolidated financial statements at www.ge.com/ar2015 for further information about consolidation matters.

GENERAL ELECTRIC COMPANY
CONDENSED STATEMENT OF EARNINGS (LOSS) (UNAUDITED)

	Consolidated					GE(a)					Financial Services (GE Capital)
Nine months ended September 30	2016		2015		V%	2016		2015		V%	2016		2015		V%

Revenues and other income
Sales of goods and services	$	80,156	$	75,266	6%	$	80,490	$	75,592	6%	$	88	$	64	38%
Other income		3,385		1,092			3,359		1,023			-		-
GE Capital earnings (loss) from continuing operations		-		-			(1,466)		(6,207)			-		-
GE Capital revenues from services		7,063		7,136			-		-			8,168		8,152
Total revenues and other income		90,604		83,494	9%		82,382		70,408	17%		8,256		8,215	-%

Costs and expenses
Cost of sales		63,710		59,110			62,394		57,769			1,738		1,730
Selling, general and administrative expenses		13,833		13,058			12,094		11,035			2,238		2,458
Interest and other financial charges		4,023		2,228			1,490		1,243			3,006		1,348
Investment contracts, insurance losses and
insurance annuity benefits		2,101		1,942			-		-			2,186		2,061
Other costs and expenses		801		873			-		-			822		903
Total costs and expenses		84,467		77,211	9%		75,977		70,048	8%		9,990		8,500	18%
Earnings (loss) from continuing operations
before income taxes		6,137		6,283	(2)%		6,405		360	F		(1,734)		(285)	U
Benefit (provision) for income taxes		(302)		(7,227)			(1,034)		(1,302)			732		(5,925)
Earnings (loss) from continuing operations		5,835		(945)	F		5,370		(942)	F		(1,002)		(6,210)	84%
Earnings (loss) from discontinued
operations, net of taxes		(954)		(11,253)			(956)		(11,523)			(954)		(11,249)
Net earnings (loss)		4,881		(12,198)	F		4,414		(12,465)	F		(1,956)		(17,459)	89%
Less net earnings (loss) attributable to
noncontrolling interests		(283)		229			(275)		(38)			(8)		267
Net earnings (loss) attributable to the Company		5,164		(12,427)	F		4,689		(12,427)	F		(1,948)		(17,726)	89%
Preferred stock dividends		(474)		-			-		-			(474)		(161)
Net earnings (loss) attributable to
GE common shareowners	$	4,689	$	(12,427)	F	$	4,689	$	(12,427)	F	$	(2,422)	$	(17,887)	86%
Amounts attributable to GE common
shareowners:
Earnings (loss) from continuing operations	$	5,835	$	(945)	F	$	5,370	$	(942)	F	$	(1,002)	$	(6,210)	84%
Less net earnings (loss) attributable
to noncontrolling interests, continuing operations		(285)		(41)			(275)		(38)			(10)		(3)
Earnings (loss) from continuing operations
attributable to the Company		6,120		(904)	F		5,645		(904)	F		(992)		(6,207)	84%
Preferred stock dividends		(474)		-			-		-			(474)		(161)
Earnings (loss) from continuing operations
attributable to GE common shareowners		5,645		(904)	F		5,645		(904)	F		(1,466)		(6,368)	77%
Earnings (loss) from discontinued
operations, net of taxes		(954)		(11,253)			(956)		(11,523)			(954)		(11,249)
Less net earnings (loss) attributable to
noncontrolling interests, discontinued operations		2		270			-		-			2		270
Net earnings (loss) attributable to GE
common shareowners	$	4,689	$	(12,427)	F	$	4,689	$	(12,427)	F	$	(2,422)	$	(17,887)	86%

Per-share amounts - earnings (loss) from
continuing operations
Diluted earnings (loss) per share	$	0.61	$	(0.09)	F
Basic earnings (loss) per share	$	0.62	$	(0.09)	F
Per-share amounts - net earnings (loss)
Diluted earnings (loss) per share	$	0.51	$	(1.23)	F
Basic earnings (loss) per share	$	0.51	$	(1.23)	F
Total average equivalent shares
Diluted		9,201		10,085	(9)%
Basic		9,096		10,085	(10)%
Dividends declared per common share	$	0.69	$	0.69	-%

(a)	Represents the adding together of all affiliated companies except GE Capital, which is presented on a one-line basis.

Amounts may not add due to rounding. Dollar amounts and share amounts in millions; per-share amounts in dollars.

GENERAL ELECTRIC COMPANY
SUMMARY OF OPERATING SEGMENTS (UNAUDITED)

	Three months ended September 30					Nine months ended September 30
(Dollars in millions)	2016		2015		V%	2016		2015		V%

Revenues(a)
Power	$	6,506	$	4,738	37 %	$	18,348	$	14,405	27 %
Renewable Energy		2,770		1,666	66 %		6,533		4,335	51 %
Oil & Gas		2,964		3,938	(25)%		9,497		12,096	(21)%
Aviation		6,300		6,001	5 %		19,074		17,927	6 %
Healthcare		4,482		4,255	5 %		13,190		12,666	4 %
Transportation		1,249		1,593	(22)%		3,471		4,322	(20)%
Energy Connections & Lighting(b)		3,151		4,065	(22)%		11,808		11,695	1 %
Total industrial segment revenues		27,421		26,256	4 %		81,920		77,445	6 %
Capital		2,600		2,660	(2)%		8,256		8,215	- %
Total segment revenues		30,021		28,916	4 %		90,176		85,660	5 %
Corporate items and eliminations(a)		(755)		(888)			429		(2,166)
Consolidated revenues and other income
from continuing operations	$	29,266	$	28,028	4 %	$	90,604	$	83,494	9 %

Segment profit (loss)(a)
Power	$	1,197	$	1,071	12 %	$	2,910	$	2,874	1 %
Renewable Energy		202		174	16 %		413		375	10 %
Oil & Gas		353		610	(42)%		981		1,712	(43)%
Aviation		1,494		1,353	10 %		4,366		3,936	11 %
Healthcare		717		652	10 %		2,130		1,944	10 %
Transportation		309		379	(18)%		747		934	(20)%
Energy Connections & Lighting(b)		48		292	(84)%		209		669	(69)%
Total industrial segment profit		4,320		4,530	(5)%		11,756		12,445	(6)%
Capital		26		(154)	F		(1,466)		(6,368)	77 %
Total segment profit (loss)		4,345		4,376	(1)%		10,290		6,076	69 %
Corporate items and eliminations(a)		(1,524)		(1,559)			(2,120)		(4,436)
GE interest and other financial charges		(483)		(440)			(1,490)		(1,243)
GE provision for income taxes		(241)		(413)			(1,034)		(1,302)
Earnings (loss) from continuing operations
attributable to GE common shareowners		2,097		1,965	7 %		5,645		(904)	F
Earnings (loss) from discontinued operations,
net of taxes		(105)		629	U		(954)		(11,253)	92 %
Less net earnings attributable to
noncontrolling interests, discontinued operations		(2)		89	U		2		270	(99)%
Earnings (loss) from discontinued operations,
net of tax and noncontrolling interest		(103)		541	U		(956)		(11,523)	92 %
Consolidated net earnings (loss)
attributable to GE common shareowners	$	1,994	$	2,506	(20)%	$	4,689	$	(12,427)	F

(a)

Segment revenues include revenues and other income related to the segment. Segment profit excludes results reported as discontinued operations and material accounting changes, the portion of earnings or loss attributable to noncontrolling interests of consolidated subsidiaries, and as such only includes the portion of earnings or loss attributable to our share of the consolidated earnings or loss of consolidated subsidiaries. Segment profit excludes or includes interest and other financial charges and income taxes according to how a particular segment's management is measured – excluded in determining segment profit, which we sometimes refer to as "operating profit," for Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation and Energy Connections & Lighting; included in determining segment profit, which we sometimes refer to as "net earnings," for Capital. Certain corporate costs, such as shared services, employee benefits and information technology are allocated to our segments based on usage. A portion of the remaining corporate costs are allocated based on each segment's relative net cost of operations. Total industrial segment revenues and profit include the sum of our seven industrial reporting segments without giving effect to the elimination of transactions among such segments. Total segment revenues and profit include the sum of our seven industrial segments and one financial services segment, without giving effect to the elimination of transactions among such segments. We believe that this provides investors with a view as to the results of all of our segments, without inter-segment eliminations and corporate items.

(b)	Beginning in the third quarter of 2016, the former Energy Connections and Appliances & Lighting segments will be presented as one reporting segment called Energy Connections & Lighting. This segment will include the historical results of the Appliances business prior to its sale in June 2016.

Amounts may not add due to rounding

GENERAL ELECTRIC COMPANY
CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)


	Consolidated				GE(a)				Financial Services (GE Capital)
	September 30,		December 31,		September 30,		December 31,		September 30,		December 31,
(Dollars in billions)	2016		2015		2016		2015		2016		2015

Assets
Cash and marketable securities	$	98.9	$	102.5	$	10.8	$	10.5	$	88.1	$	91.9
Receivables		25.2		27.0		13.4		14.7		-		-
Inventories		24.1		22.5		24.0		22.4		0.1		0.1
GE Capital financing receivables - net		11.9		12.1		-		-		25.0		25.0
Property, plant & equipment - net		51.5		54.1		19.6		20.1		32.7		34.8
Receivable from GE Capital (debt assumption)		-		-		59.8		84.7		-		-
Investment in GE Capital		-		-		29.0		46.2		-		-
Goodwill & intangible assets		86.8		83.3		84.1		80.5		2.7		2.8
Contract assets		24.4		21.2		24.4		21.2		-		-
Other assets		33.5		46.7		19.6		20.5		23.3		36.0
Assets of businesses held for sale		0.6		2.8		0.6		2.8		-		-
Assets of discontinued operations		30.9		121.0		-		-		30.9		120.9
Total assets	$	387.7	$	493.1	$	285.2	$	323.7	$	202.7	$	311.5

Liabilities and equity
Borrowings	$	149.4	$	197.6	$	84.6	$	103.1	$	126.4	$	180.2
Investment contracts, insurance liabilities and
insurance annuity benefits		27.1		25.7		-		-		27.6		26.2
Non-current compensation and benefits		40.4		40.5		39.4		39.5		1.0		1.0
Other liabilities		74.3		78.8		74.9		77.0		8.6		11.1
Liabilities of businesses held for sale		-		0.9		0.1		1.4		-		-
Liabilities of discontinued operations		9.8		46.5		0.1		0.1		9.7		46.4
Redeemable noncontrolling interest		3.1		3.0		3.1		3.0		-		-
GE shareowners' equity		81.9		98.3		81.9		98.3		29.0		46.2
Noncontrolling interests		1.7		1.9		1.2		1.4		0.4		0.5
Total liabilities and equity	$	387.7	$	493.1	$	285.2	$	323.7	$	202.7	$	311.5

(a)	Represents the adding together of all affiliated companies except GE Capital, which is presented on a one-line basis.

Amounts may not add due to rounding

GENERAL ELECTRIC COMPANY

Financial Measures That Supplement GAAP

We sometimes use financial measures derived from consolidated financial information but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. The following non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure.

	Industrial operating and GE Capital earnings (loss) from continuing operations and EPS

	Industrial operating + Verticals earnings and EPS

	Industrial operating profit and operating profit margin (excluding certain items)

	Industrial segment organic revenues

	Industrial cash flows from operating activities (Industrial CFOA) and Industrial CFOA excluding deal taxes

The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures follow. Certain columns, rows or percentages within these reconciliations may not add or recalculate due to the use of rounded numbers. Totals and percentages presented are calculated from the underlying numbers in millions.

INDUSTRIAL OPERATING AND GE CAPITAL EARNINGS (LOSS)
FROM CONTINUING OPERATIONS AND EPS

		Three months ended September 30
(Dollars in millions; except per share amounts)		2016		2015	V%

Consolidated earnings (loss) from continuing operations
attributable to GE common shareowners (GAAP)	$	2,097	$	1,965	7%
Non-operating pension costs (pre-tax)		511		693
Tax effect on non-operating pension costs(a)		(179)		(243)
Adjustment: non-operating pension costs (net of tax)		332		450
Operating earnings (loss) (Non-GAAP)	$	2,429	$	2,415	1%

Adjustment: GE Capital earnings (loss) from continuing operations
attributable to GE common shareowners		26		(154)
Industrial operating earnings (Non-GAAP)	$	2,404	$	2,569	(6)%

Earnings (loss) per share (EPS) - diluted(b)
Consolidated EPS from continuing operations attributable to GE common shareowners (GAAP)	$	0.23	$	0.19	21%
Adjustment: non-operating pension costs (net of tax)		0.04		0.04
Operating EPS (Non-GAAP)		0.27		0.24	13%
GE Capital EPS from continuing operations attributable to GE common shareowners (GAAP)		-		(0.02)	100%
Industrial operating EPS (Non-GAAP)	$	0.27	$	0.25	8%

(a)	The tax effect on non-operating pension costs was calculated using a 35% U.S. federal statutory tax rate, based on its applicability to such cost.

(b)	Earnings (loss) per-share amounts are computed independently. As a result, the sum of per-share amounts may not equal the total.

Operating earnings (loss) excludes non-service related pension costs of our principal pension plans comprising interest cost, expected return on plan assets and amortization of actuarial gains/losses. The service cost, prior service cost and any curtailment gain or loss components of our principal pension plans are included in operating earnings. We believe that these components of pension cost better reflect the ongoing service-related costs of providing pension benefits to our employees. As such, we believe that our measure of operating earnings (loss) provides management and investors with a useful measure of the operational results of our business. Other components of GAAP pension cost are mainly driven by capital allocation decisions and market performance, and we manage these separately from the operational performance of our businesses. Non-operating pension costs are not necessarily indicative of the current or future cash flow requirements related to our pension plan. We also believe that this measure, considered along with the corresponding GAAP measure, provides management and investors with additional information for comparison of our operating results to the operating results of other companies.

INDUSTRIAL OPERATING + VERTICALS EARNINGS AND EPS

		Three months ended September 30
(Dollars in millions; except per share amounts)		2016		2015	V%

GE Capital earnings (loss) from continuing operation attributable to GE common shareowners (GAAP)	$	26	$	(154)	F
Adjustment: GE Capital other continuing earnings (loss) (Other Capital)		(441)		(504)
Verticals earnings(a)	$	466	$	351	33%

Industrial operating earnings (Non-GAAP)	$	2,404	$	2,569	(6)%
Verticals earnings(a)		466		351
Industrial operating earnings + Verticals earnings (Non-GAAP)	$	2,870	$	2,920	(2)%
Adjustment: Non-operating pension costs and Other Capital		(773)		(954)
Earnings (loss) from continuing operations attributable to GE common shareowners (GAAP)	$	2,097	$	1,965	7%

Earnings (loss) per share (EPS) - diluted(b)
Industrial operating EPS (Non-GAAP)	$	0.27	$	0.25	8%
Verticals EPS		0.05		0.03
Industrial operating + Verticals EPS (Non-GAAP)	$	0.32	$	0.29	10%
Adjustment: Non-operating pension costs and Other Capital		(0.09)		(0.09)
EPS from continuing operations (GAAP)	$	0.23	$	0.19	21%

(a)	Verticals include businesses expected to be retained (GECAS, EFS, Industrial Finance, and run-off Insurance), including allocated corporate costs of $25 million after tax in both the three months ended September 30, 2016 and 2015.

(b)	Earnings-per-share amounts are computed independently. As a result, the sum of per-share amounts may not equal the total.

As described above, Verticals represents the GE Capital businesses that we expect to retain. We believe that presenting Industrial operating + Verticals earnings-per-share amounts provides management and investors with a useful measure to evaluate the performance of the businesses we expect to retain after the disposition of most of our financial services business.

INDUSTRIAL OPERATING PROFIT AND OPERATING PROFIT MARGIN (EXCLUDING CERTAIN ITEMS)

	Three months ended September 30
(Dollars in millions)		2016		2015

Revenues
GE total revenues and other income	$	27,172	$	25,659
Less: GE Capital earnings (loss) from continuing operations		26		(154)
GE revenues and other income excluding GE Capital earnings (loss) (Industrial revenues) (GAAP)	$	27,146	$	25,813

Less: gains		208		-
Less: Alstom revenues		3,226		-
Adjusted Industrial revenues (Non-GAAP)	$	23,712	$	25,813

Costs
GE total costs and expenses	$	24,909	$	23,325
Less: GE interest and other financial charges		483		440
Industrial costs excluding interest and other financial charges (GAAP)	$	24,426	$	22,885

Less: Alstom costs and expenses		3,082		-
Less: non-operating pension costs (pre-tax)		511		693
Less: restructuring and other		683		346
Less: noncontrolling interests		76		43
Adjusted Industrial costs (Non-GAAP)	$	20,074	$	21,803

Industrial profit (GAAP)	$	2,720	$	2,928
Industrial margins (GAAP)		10.0%		11.3%

Industrial operating profit (Non-GAAP)	$	3,638	$	4,009
Industrial operating profit margins (Non-GAAP)		15.3%		15.5%

We have presented our Industrial operating profit and operating profit margin excluding gains, non-operating pension costs (pre-tax) restructuring and other, noncontrolling interests, GE Capital preferred stock dividends, as well as the results of Alstom. We believe that Industrial operating profit and operating profit margin adjusted for these items are meaningful measures because they increase the comparability of period-to-period results.

INDUSTRIAL SEGMENT ORGANIC REVENUES

	Three months ended September 30
(Dollars in millions)		2016		2015	V%

Industrial segment revenues (GAAP)	$	27,421	$	26,256	4%
Adjustments:
Acquisitions		(3,261)		-
Business dispositions (other than dispositions of businesses acquired for investment)		-		(2,219)
Currency exchange rates		37		-
Industrial segment organic revenues (Non-GAAP)	$	24,198	$	24,038	1%

Organic revenue growth measures revenue excluding the effects of acquisitions, business dispositions and currency exchange rates. We believe that this measure provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and currency exchange, which activities are subject to volatility and can obscure underlying trends. We also believe that presenting organic revenue growth separately for our industrial businesses provides management and investors with useful information about the trends of our industrial businesses and enables a more direct comparison to other non-financial businesses and companies. Management recognizes that the term "organic revenue growth" may be interpreted differently by other companies and under different circumstances. Although this may have an effect on comparability of absolute percentage growth from company to company, we believe that these measures are useful in assessing trends of the respective businesses or companies and may therefore be a useful tool in assessing period-to-period performance trends.

INDUSTRIAL CASH FLOWS FROM OPERATING ACTIVITIES (INDUSTRIAL CFOA)
AND INDUSTRIAL CFOA EXCLUDING DEAL TAXES

	Nine months ended September 30
(Dollars in millions)		2016		2015	V%

Cash from GE's operating activities (continuing operations), as reported (GAAP)	$	18,342	$	6,526	F
Adjustment: dividends from GE Capital		16,050		450
Industrial CFOA (Non-GAAP)	$	2,292	$	6,076	(62)%
Adjustment: deal taxes related to the Appliances business sale		1,076		-
Industrial CFOA excluding deal taxes (Non-GAAP)	$	3,368	$	6,076	(45)%

We define "Industrial CFOA" as GE's cash from operating activities (continuing operations) less the amount of dividends received by GE from GE Capital. This includes the effects of intercompany transactions, including GE customer receivables sold to GE Capital; GE Capital services for trade receivables management and material procurement; buildings and equipment leased by GE from GE Capital; information technology (IT) and other services sold to GE Capital by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GE Capital from third-party producers for lease to others; and various investments, loans and allocations of GE corporate overhead costs. We believe that investors may find it useful to compare GE's operating cash flows without the effect of GE Capital dividends, since these dividends are not representative of the operating cash flows of our industrial businesses and can vary from period to period based upon the results of the financial services businesses. We also believe that investors may find it useful to compare Industrial CFOA excluding the effects of deal taxes paid related to the Appliances business sale. Management recognizes that these measures may not be comparable to cash flow results of companies which contain both industrial and financial services businesses, but believes that this comparison is aided by the provision of additional information about the amounts of dividends paid by our financial services business and the separate presentation in our financial statements of the GE Capital cash flows. We believe that our measure of Industrial CFOA and Industrial CFOA excluding Appliances deal-related taxes provides management and investors with useful measures to compare the capacity of our industrial operations to generate operating cash flow with the operating cash flow of other non-financial businesses and companies and as such provides useful measures to supplement the reported GAAP CFOA measure.

General Electric (GE) 8-KResults of Operations and Financial Condition