10-K.Info (Beta Test)
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10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

GENERAL ELECTRIC CO

Ticker: GE   Fiscal Year: 2013

Statement of Earnings

Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2013Dec 31, 2012Dec 31, 2011
Statement of Earnings
Revenues and other income
Sales of goods
$
71,873
72,99166,874
Sales of services28,66927,15827,648
Other income3,1082,5635,063
GECC earnings from continuing operations000
GECC revenues from services42,39543,97246,957
Total revenues and other income146,045146,684146,542
 
Costs and expenses
Cost of goods sold57,86756,78551,455
Cost of services sold19,27417,52516,823
Interest and other financial charges10,11612,40714,422
Investment contracts, insurance losses and insurance annuity benefits2,6762,8572,912
Provision for losses on financing receivables4,8183,8323,930
Other costs and expenses35,14335,89736,841
Total costs and expenses129,894129,303126,383
 
Earnings (loss) from continuing operations before income taxes16,15117,38120,159
 
Benefit (provision) for income taxes(676)(2,534)(5,745)
Earnings from continuing operations15,47514,84714,414
 
Earnings (loss) from discontinued operations, net of taxes(2,120)(983)29
Net earnings (loss)13,35513,86414,443
 
Less: net earnings (loss) attributable to noncontrolling interests298223292
Net earnings (loss) attributable to the Company13,05713,64114,151
 
Preferred stock dividends declared00(1,031)
Net earnings (loss) attributable to GE common shareowners13,05713,64113,120
 
Amounts attributable to the Company
Earnings (loss) from continuing operations15,17714,62414,122
Earnings (loss) from discontinued operations, net of taxes(2,120)(983)29
Net earnings (loss) attributable to the Company13,05713,64114,151
Per-share amounts
Earnings from continuing operations
Diluted earnings per share1.47001.38001.2300
Basic earnings per share1.48001.39001.2300
Net earnings (loss)
Diluted earnings per share1.27001.29001.2300
Basic earnings per share1.28001.29001.2400
Dividends declared per common share0.79000.70000.6100
Legal Entity
Subsidiaries
Sales of goods71,95173,30467,011
Sales of services29,06327,57128,024
Other income2,8862,6575,268
GECC earnings from continuing operations8,2587,3456,480
GECC revenues from services000
Total revenues and other income112,158110,877106,783
 
Cost of goods sold57,96257,11851,605
Cost of services sold19,66817,93817,199
Interest and other financial charges1,3331,3531,299
Investment contracts, insurance losses and insurance annuity benefits000
Provision for losses on financing receivables000
Other costs and expenses16,10517,671 [1]17,554
Total costs and expenses95,06894,08087,657
 
Earnings (loss) from continuing operations before income taxes17,09016,79719,126
 
Benefit (provision) for income taxes(1,668)(2,013)(4,839)
Earnings from continuing operations15,42214,78414,287
 
Earnings (loss) from discontinued operations, net of taxes(2,120)(983)29
Net earnings (loss)13,30213,80114,316
 
Less: net earnings (loss) attributable to noncontrolling interests245160165
Net earnings (loss) attributable to the Company13,05713,64114,151
 
Preferred stock dividends declared00(1,031)
Net earnings (loss) attributable to GE common shareowners13,05713,64113,120
 
Earnings (loss) from continuing operations15,17714,62414,122
Earnings (loss) from discontinued operations, net of taxes(2,120)(983)29
Net earnings (loss) attributable to the Company13,05713,64114,151
Subsidiaries GECC
Sales of goods126119148
Sales of services000
Other income000
GECC earnings from continuing operations000
GECC revenues from services43,94145,24548,176
Total revenues and other income44,06745,36448,324
 
Cost of goods sold10899135
Cost of services sold000
Interest and other financial charges9,26711,59613,760
Investment contracts, insurance losses and insurance annuity benefits2,7792,9843,059
Provision for losses on financing receivables4,8183,8323,930
Other costs and expenses19,77618,92419,927
Total costs and expenses36,74837,43540,811
 
Earnings (loss) from continuing operations before income taxes7,3197,9297,513
 
Benefit (provision) for income taxes992(521)(906)
Earnings from continuing operations8,3117,4086,607
 
Earnings (loss) from discontinued operations, net of taxes(2,054)(1,130)30
Net earnings (loss)6,2576,2786,637
 
Less: net earnings (loss) attributable to noncontrolling interests5363127
Net earnings (loss) attributable to the Company6,2046,2156,510
 
Preferred stock dividends declared(298)(123)0
Net earnings (loss) attributable to GE common shareowners5,9066,0926,510
 
Earnings (loss) from continuing operations8,2587,3456,480
Earnings (loss) from discontinued operations, net of taxes(2,054)(1,130)30
Net earnings (loss) attributable to the Company6,2046,2156,510
[1] (a) Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or financial services), which is presented on a one-line basis. See Note 1.
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GENERAL ELECTRIC CO

Ticker: GE   Fiscal Year: 2013

Statement of Comprehensive Income

Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2013Dec 31, 2012Dec 31, 2011
Net earnings
$
13,355
13,86414,443
Less: net earnings (loss) attributable to noncontrolling interests298223292
Net earnings (loss) attributable to the Company13,05713,64114,151
Other comprehensive income (loss)
Investment securities(374)705608
Currency translation adjustments(308)300180
Cash flow hedges467453118
Benefit plans11,3002,299(7,040)
Other comprehensive income (loss)11,0853,757(6,134)
 
Less: Other comprehensive income (loss) attributable to noncontrolling interests(25)13(15)
Other comprehensive income (loss) attributable to Company11,1103,744(6,119)
Comprehensive income24,44017,6218,309
Less: Comprehensive income (loss) attributable to noncontrolling interests273236277
Comprehensive income attributable to Company24,16717,3858,032
 
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GENERAL ELECTRIC CO

Ticker: GE   Fiscal Year: 2013

Statement of Cash Flows

Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2013Dec 31, 2012Dec 31, 2011
Cash flows - operating activities
Net earnings
$
13,355
13,86414,443
Less: net earnings (loss) attributable to noncontrolling interests298223292
Net earnings (loss) attributable to the Company13,05713,64114,151
(Earnings) loss from discontinued operations, net of taxes2,120983(29)
Adjustments to reconcile net earnings attributable to the Company to cash provided from operating activities
Depreciation and amortization of property, plant and equipment9,7629,1928,986
Earnings from continuing operations retained by GECC(b)000
Deferred income taxes(3,295)(1,152)(204)
Decrease (increase) in GE current receivables(485)(879)(670)
Decrease (increase) in inventories(1,368)(1,274)(1,168)
Increase (decrease) in accounts payable360(437)1,204
Increase (decrease) in GE progress collections1,893(920)(1,146)
Provision for losses on GECC financing receivables4,8183,8323,930
All other operating activities2,1758,0297,057
Cash from (used for) operating activities - continuing operations29,03731,01532,111
 
Cash from (used for) operating activities - discontinued operations(458)3161,248
Cash from (used for) operating activities28,57931,33133,359
 
Cash flows - investing activities
Additions to property, plant and equipment(13,458)(15,119)(12,637)
Dispositions of property, plant and equipment5,8836,1845,867
Net decrease (increase) in GECC financing receivables2,7156,97914,785
Proceeds from sales of discontinued operations5282278,950
Proceeds from principal business dispositions3,3243,6188,877
Proceeds from sales of associated companies16,69900
Net cash from (payments for) principal businesses purchased(1,642)(1,456)(11,202)
All other investing activities14,62511,1576,527
Cash from (used for) investing activities - continuing operations28,67411,59021,167
 
Cash from (used for) investing activities - discontinued operations443(288)(1,285)
Cash from (used for) investing activities29,11711,30219,882
 
Cash flows - financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)(14,230)(2,231)5,951
Net increase (decrease) in bank deposits2,1972,4506,652
Newly issued debt (maturities longer than 90 days)45,39263,01943,847
Repayments and other reductions (maturities longer than 90 days)(61,461)(103,942)(85,706)
Proceeds from issuance of preferred stock9903,9600
Repayment of preferred stock00(3,300)
Net dispositions (purchases) of GE shares for treasury(9,278)(4,164)(1,456)
Dividends paid to shareowners(7,821)(7,189)(6,458)
Purchase of subsidiary shares from noncontrolling interest00(4,578)
All other financing activities(1,418)(2,958)(1,867)
Cash from (used for) financing activities - continuing operations(45,629)(51,055)(46,915)
 
Cash from (used for) financing activities - discontinued operations56(19)52
Cash from (used for) financing activities(45,573)(51,074)(46,863)
 
Effect of currency exchange rate changes on cash and equivalents(795)1,278(841)
Increase (decrease) in cash and equivalents11,328(7,163)5,537
 
Cash and equivalents at beginning of year77,45984,622
Cash and equivalents at end of year88,78777,45984,622
 
Less cash and equivalents of discontinued operations at end of year232191182
Cash and equivalents of continuing operations at end of year88,55577,26884,440
Supplemental disclosure of cash flows information
Cash paid during the year for interest(8,690)(12,717)(15,571)
Cash recovered (paid) during the year for income taxes(2,487)(3,237)(2,919)
Legal Entity
Subsidiaries
Net earnings13,30213,80114,316
Less: net earnings (loss) attributable to noncontrolling interests245160165
Net earnings (loss) attributable to the Company13,05713,64114,151
(Earnings) loss from discontinued operations, net of taxes2,120983(29)
Depreciation and amortization of property, plant and equipment2,4492,2912,068
Earnings from continuing operations retained by GECC(b)(2,273) [1](919)(6,480)
Deferred income taxes(2,571)(294)(327)
Decrease (increase) in GE current receivables(1,432)1,105(346)
Decrease (increase) in inventories(1,351)(1,204)(1,122)
Increase (decrease) in accounts payable8091581,938
Increase (decrease) in GE progress collections1,919(920)(1,146)
Provision for losses on GECC financing receivables000
All other operating activities1,5282,9853,350
Cash from (used for) operating activities - continuing operations14,25517,82612,057
 
Cash from (used for) operating activities - discontinued operations(2)00
Cash from (used for) operating activities14,25317,82612,057
 
Additions to property, plant and equipment(3,680)(3,937)(2,957)
Dispositions of property, plant and equipment000
Net decrease (increase) in GECC financing receivables000
Proceeds from sales of discontinued operations000
Proceeds from principal business dispositions1,3165406,254
Proceeds from sales of associated companies16,69900
Net cash from (payments for) principal businesses purchased(8,026)(1,456)(11,152)
All other investing activities(1,488)(564)(384)
Cash from (used for) investing activities - continuing operations4,821(5,417)(8,239)
 
Cash from (used for) investing activities - discontinued operations200
Cash from (used for) investing activities4,823(5,417)(8,239)
 
Net increase (decrease) in borrowings (maturities of 90 days or less)949(890)1,058
Net increase (decrease) in bank deposits000
Newly issued debt (maturities longer than 90 days)5126,961177
Repayments and other reductions (maturities longer than 90 days)(5,032)(34)(270)
Proceeds from issuance of preferred stock000
Repayment of preferred stock00(3,300)
Net dispositions (purchases) of GE shares for treasury(9,278)(4,164)(1,456)
Dividends paid to shareowners(7,821)(7,189)(6,458)
Purchase of subsidiary shares from noncontrolling interest00(4,303)
All other financing activities(211)32(75)
Cash from (used for) financing activities - continuing operations(20,881)(5,284)(14,627)
 
Cash from (used for) financing activities - discontinued operations000
Cash from (used for) financing activities(20,881)(5,284)(14,627)
 
Effect of currency exchange rate changes on cash and equivalents(22)2(50)
Increase (decrease) in cash and equivalents(1,827)7,127(10,859)
 
Cash and equivalents at beginning of year13,6828,3828,382
Cash and equivalents at end of year13,6828,3828,382
 
Less cash and equivalents of discontinued operations at end of year000
Cash and equivalents of continuing operations at end of year13,68215,5098,382
Cash paid during the year for interest(812)(1,182)(1,177)
Cash recovered (paid) during the year for income taxes(4,753)(2,987)(2,303)
Subsidiaries GECC
Net earnings6,2576,2786,637
Less: net earnings (loss) attributable to noncontrolling interests5363127
Net earnings (loss) attributable to the Company6,2046,2156,510
(Earnings) loss from discontinued operations, net of taxes2,0541,130(30)
Depreciation and amortization of property, plant and equipment7,3136,9016,918
Earnings from continuing operations retained by GECC(b)000
Deferred income taxes(724)(858)123
Decrease (increase) in GE current receivables000
Decrease (increase) in inventories33(27)15
Increase (decrease) in accounts payable73(880)19
Increase (decrease) in GE progress collections000
Provision for losses on GECC financing receivables4,8183,8323,930
All other operating activities995,4183,127
Cash from (used for) operating activities - continuing operations19,87021,73120,612
 
Cash from (used for) operating activities - discontinued operations(456)3161,248
Cash from (used for) operating activities19,41422,04721,860
 
Additions to property, plant and equipment(9,978)(11,879)(9,869)
Dispositions of property, plant and equipment5,8836,1845,867
Net decrease (increase) in GECC financing receivables3,5895,49014,525
Proceeds from sales of discontinued operations5282278,950
Proceeds from principal business dispositions1,9832,8632,623
Proceeds from sales of associated companies000
Net cash from (payments for) principal businesses purchased6,3840(50)
All other investing activities14,97211,7947,733
Cash from (used for) investing activities - continuing operations23,36114,67929,779
 
Cash from (used for) investing activities - discontinued operations441(288)(1,285)
Cash from (used for) investing activities23,80214,39128,494
 
Net increase (decrease) in borrowings (maturities of 90 days or less)(13,892)(1,401)4,393
Net increase (decrease) in bank deposits2,1972,4506,652
Newly issued debt (maturities longer than 90 days)44,88855,84143,267
Repayments and other reductions (maturities longer than 90 days)(56,429)(103,908)(85,436)
Proceeds from issuance of preferred stock9903,9600
Repayment of preferred stock000
Net dispositions (purchases) of GE shares for treasury000
Dividends paid to shareowners(6,283)(6,549)0
Purchase of subsidiary shares from noncontrolling interest00(275)
All other financing activities(909)(2,867)(1,792)
Cash from (used for) financing activities - continuing operations(29,438)(52,474)(33,191)
 
Cash from (used for) financing activities - discontinued operations56(19)52
Cash from (used for) financing activities(29,382)(52,493)(33,139)
 
Effect of currency exchange rate changes on cash and equivalents(773)1,276(791)
Increase (decrease) in cash and equivalents13,061(14,779)16,424
 
Cash and equivalents at beginning of year75,10576,82376,823
Cash and equivalents at end of year75,10576,82376,823
 
Less cash and equivalents of discontinued operations at end of year232191182
Cash and equivalents of continuing operations at end of year74,87361,85376,641
Cash paid during the year for interest(8,146)(12,172)(15,018)
Cash recovered (paid) during the year for income taxes2,266(250)(616)
[1] Represents GECC earnings from continuing operations attributable to the Company, net of GECC dividends paid to GE.
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GENERAL ELECTRIC CO

Ticker: GE   Fiscal Year: 2013

Statement of Financial Position

Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2013Dec 31, 2012
Assets
Cash and equivalents
$
88,555
77,268
Investment securities43,98148,510
Current receivables21,38819,902
Inventories17,32515,374
Financing receivables - net241,940257,238
Other GECC receivables9,1147,864
Property, plant and equipment - net68,82768,633
Investment in GECC00
Goodwill77,64873,114
Other intangible assets - net14,31011,980
All other assets70,808101,644
Deferred income taxes275(54)
Assets of businesses held for sale50211
Assets of discontinued operations2,3393,315
Total assets(a)656,560 [1]684,999
 
Liabilities and equity
Short-term borrowings77,890101,392
Accounts payable, principally trade accounts16,47115,654
Progress collections and price adjustments accrued13,12510,877
Dividends payable2,2201,980
Other GE current liabilities13,38114,895
Non-recourse borrowings of consolidated securitization entities30,12430,123
Bank deposits53,36146,200
Long-term borrowings221,665236,084
Investment contracts, insurance liabilities and insurance annuity benefits26,54428,268
All other liabilities61,05768,166
Liabilities of businesses held for sale6157
Liabilities of discontinued operations3,9332,733
Total liabilities(a)519,777556,529
 
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively)00
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively)702702
Accumulated other comprehensive income (loss) attributable to the Company(b)
Investment securities307677 [2]
Currency translation adjustments126412
Cash flow hedges(257)(722)
Benefit plans(9,296)(20,597)
Other capital32,49433,070
Retained earnings149,051144,055
Less common stock held in treasury(42,561)(34,571)
Total Company shareowners' equity130,566123,026
 
Noncontrolling interests(c)6,217 [3]5,444
Total equity136,783128,470
 
Total liabilities and equity656,560684,999
 
Legal Entity
Subsidiaries
Cash and equivalents13,68215,509
Investment securities32374
Current receivables10,9709,274
Inventories17,25715,295
Financing receivables - net00
Other GECC receivables00
Property, plant and equipment - net17,57416,033
Investment in GECC77,74577,930
Goodwill51,45346,143
Other intangible assets - net13,18010,700
All other assets23,70839,534
Deferred income taxes5,0615,946
Assets of businesses held for sale00
Assets of discontinued operations99
Total assets(a)230,962236,447
 
Short-term borrowings1,8416,041
Accounts payable, principally trade accounts16,35314,259
Progress collections and price adjustments accrued13,15210,877
Dividends payable2,2201,980
Other GE current liabilities13,38114,896
Non-recourse borrowings of consolidated securitization entities00
Bank deposits00
Long-term borrowings11,51511,428
Investment contracts, insurance liabilities and insurance annuity benefits00
All other liabilities40,95553,093
Liabilities of businesses held for sale00
Liabilities of discontinued operations14370
Total liabilities(a)99,560112,644
 
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively)00
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively)702702
Investment securities307677
Currency translation adjustments126412
Cash flow hedges(257)(722)
Benefit plans(9,296)(20,597)
Other capital32,49433,070
Retained earnings149,051144,055
Less common stock held in treasury(42,561)(34,571)
Total Company shareowners' equity130,566123,026
 
Noncontrolling interests(c)836777
Total equity131,402123,803
 
Total liabilities and equity230,962236,447
 
Subsidiaries GECC
Cash and equivalents74,87361,853
Investment securities43,66248,439
Current receivables00
Inventories6879
Financing receivables - net253,029268,161
Other GECC receivables16,51313,891
Property, plant and equipment - net51,60752,967
Investment in GECC00
Goodwill26,19526,971
Other intangible assets - net1,1361,287
All other assets47,36662,186
Deferred income taxes(4,786)(6,000)
Assets of businesses held for sale50211
Assets of discontinued operations2,3303,306
Total assets(a)512,043533,351
 
Short-term borrowings77,29895,940
Accounts payable, principally trade accounts6,5496,256
Progress collections and price adjustments accrued00
Dividends payable00
Other GE current liabilities00
Non-recourse borrowings of consolidated securitization entities30,12430,123
Bank deposits53,36146,200
Long-term borrowings210,279224,776
Investment contracts, insurance liabilities and insurance annuity benefits26,97928,696
All other liabilities20,53115,943
Liabilities of businesses held for sale6157
Liabilities of discontinued operations3,7902,663
Total liabilities(a)428,917450,754
 
GECC preferred stock (50,000 and 40,000 shares outstanding at year-end 2013 and 2012, respectively)00
Common stock (10,060,881,000 and 10,405,625,000 shares outstanding at year-end 2013 and 2012, respectively)00
Investment securities309673
Currency translation adjustments(687)(131)
Cash flow hedges(293)(746)
Benefit plans(363)(736)
Other capital32,56331,586
Retained earnings51,16551,244
Less common stock held in treasury00
Total Company shareowners' equity82,69481,890
 
Noncontrolling interests(c)432707
Total equity83,12682,597
 
Total liabilities and equity512,043533,351
 
[1] (a) Our consolidated assets at December 31, 2013 include total assets of $47,367 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets include net financing receivables of $41,420 million and investment securities of $3,830 million. Our consolidated liabilities at December 31, 2013 include liabilities of certain VIEs for which the VIE creditors do not have recourse to GE. These liabilities include non-recourse borrowings of consolida
[2] (b) The sum of accumulated other comprehensive income attributable to GE was $(9,120) million and $(20,230) million at December 31, 2013 and 2012, respectively.
[3] (c) Included accumulated other comprehensive income attributable to noncontrolling interests of $(180) million and $(155) million at December 31, 2013 and 2012, respectively.
External Links 
GENERAL ELECTRIC CO (GE) Fiscal Year 2013
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