10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GENERAL ELECTRIC CO | |||
Ticker: GE Fiscal Year: 2018 | |||
STATEMENT OF EARNINGS (LOSS) | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenues | |||
| Sales | $ 113,543 | 110,968 | 110,171 |
| GE Capital revenues from services | 8,072 | 7,276 | 9,297 |
| Total revenues (Note 9) | 121,615 | 118,243 | 119,469 |
| Costs and expenses | |||
| Selling, general and administrative expenses | 18,111 | 17,569 | 17,756 |
| Interest and other financial charges | 5,059 | 4,869 | 5,025 |
| Investment contracts, insurance losses and insurance annuity benefits | 2,790 | 12,168 | 2,797 |
| Goodwill impairments (Note 8) | 22,136 | 2,550 | 0 |
| Non-operating benefit costs | 2,777 | 2,399 | 2,365 |
| Other costs and expenses | 464 | 1,082 | 982 |
| Total costs and expenses | 144,008 | 131,520 | 116,577 |
| Other income (Note 18) | 2,259 | 2,126 | 4,140 |
| GE Capital earnings (loss) from continuing operations | 0 | 0 | 0 |
| Earnings (loss) from continuing operations before income taxes | (20,134) | (11,151) | 7,031 |
| Benefit (provision) for income taxes (Note 14) | (583) | 2,611 | 1,133 |
| Earnings (loss) from continuing operations | (20,717) | (8,540) | 8,165 |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (1,726) | (309) | (954) |
| Net earnings (loss) | (22,443) | (8,849) | 7,211 |
| Less net earnings (loss) attributable to noncontrolling interests | (89) | (365) | (289) |
| Net earnings (loss) attributable to the Company | (22,355) | (8,484) | 7,500 |
| Preferred stock dividends | (447) | (436) | (656) |
| Net earnings (loss) attributable to GE common shareowners | (22,802) | (8,920) | 6,845 |
| Amounts attributable to GE common shareowners: | |||
| Earnings (loss) from continuing operations | (20,717) | (8,540) | 8,165 |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | (89) | (371) | (288) |
| Earnings (loss) from continuing operations attributable to the Company | (20,629) | (8,169) | 8,453 |
| Preferred stock dividends | (447) | (436) | (656) |
| Earnings (loss) from continuing operations attributable to GE common shareowners | (21,076) | (8,605) | 7,797 |
| Earnings (loss) from discontinued operations, net of taxes | (1,726) | (309) | (954) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 6 | (1) |
| Net earnings (loss) attributable to GE common shareowners | (22,802) | (8,920) | 6,845 |
| Per-share amounts (Note 17) | |||
| Earnings (loss) from continuing operations | |||
| Diluted earnings (loss) per share (in dollars per share) | (2.43) | (0.99) | 0.85 |
| Basic earnings (loss) per share (in dollars per share) | (2.43) | (0.99) | 0.86 |
| Net earnings (loss) | |||
| Diluted earnings (loss) per share (in dollars per share) | (2.62) | (1.03) | 0.75 |
| Basic earnings (loss) per share (in dollars per share) | (2.62) | (1.03) | 0.76 |
| Dividends declared per common share (in dollars per share) | 0.37 | 0.84 | 0.93 |
| Legal Entity | |||
| Financial Services (GE Capital) | |||
| Product and Service | |||
| Services | |||
| Sales | 0 | 0 | 0 |
| Cost of goods and services | 2,089 | 2,196 | 2,238 |
| GE Capital revenues from services | 9,430 | 8,940 | 10,790 |
| Total revenues (Note 9) | 9,551 | 9,070 | 10,905 |
| Selling, general and administrative expenses | 1,341 | 1,662 | 2,931 |
| Interest and other financial charges | 2,982 | 3,145 | 3,790 |
| Investment contracts, insurance losses and insurance annuity benefits | 2,849 | 12,213 | 2,861 |
| Goodwill impairments (Note 8) | 0 | 1,386 | 0 |
| Non-operating benefit costs | 12 | 14 | 16 |
| Other costs and expenses | 558 | 986 | 1,013 |
| Total costs and expenses | 9,926 | 21,703 | 12,942 |
| Other income (Note 18) | 0 | 0 | 0 |
| GE Capital earnings (loss) from continuing operations | 0 | 0 | 0 |
| Earnings (loss) from continuing operations before income taxes | (375) | (12,633) | (2,037) |
| Benefit (provision) for income taxes (Note 14) | 374 | 6,302 | 1,431 |
| Earnings (loss) from continuing operations | (1) | (6,331) | (606) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (1,670) | (312) | (954) |
| Net earnings (loss) | (1,672) | (6,643) | (1,560) |
| Less net earnings (loss) attributable to noncontrolling interests | 40 | 4 | (12) |
| Net earnings (loss) attributable to the Company | (1,712) | (6,647) | (1,548) |
| Preferred stock dividends | (447) | (436) | (656) |
| Net earnings (loss) attributable to GE common shareowners | (2,159) | (7,083) | (2,204) |
| Earnings (loss) from continuing operations | (1) | (6,331) | (606) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | 40 | (3) | (10) |
| Earnings (loss) from continuing operations attributable to the Company | (42) | (6,328) | (595) |
| Preferred stock dividends | (447) | (436) | (656) |
| Earnings (loss) from continuing operations attributable to GE common shareowners | (489) | (6,765) | (1,251) |
| Earnings (loss) from discontinued operations, net of taxes | (1,670) | (312) | (954) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 6 | (1) |
| Net earnings (loss) attributable to GE common shareowners | (2,159) | (7,083) | (2,204) |
| Goods | |||
| Sales | 121 | 130 | 115 |
| Cost of goods and services | 95 | 102 | 93 |
| Consolidated Entities | |||
| GE | |||
| Services | |||
| Sales | 38,788 | 36,187 | 33,729 |
| Cost of goods and services | 27,591 | 25,822 | 23,088 |
| GE Capital revenues from services | 0 | 0 | 0 |
| Total revenues (Note 9) | 113,642 | 111,255 | 110,615 |
| Selling, general and administrative expenses | 17,319 | 16,406 | 15,518 |
| Interest and other financial charges | 2,708 | 2,753 | 2,026 |
| Investment contracts, insurance losses and insurance annuity benefits | 0 | 0 | 0 |
| Goodwill impairments (Note 8) | 22,136 | 1,165 | 0 |
| Non-operating benefit costs | 2,764 | 2,385 | 2,349 |
| Other costs and expenses | 0 | 0 | 0 |
| Total costs and expenses | 135,656 | 111,710 | 105,774 |
| Other income (Note 18) | 2,255 | 1,937 | 4,227 |
| GE Capital earnings (loss) from continuing operations | (489) | (6,765) | (1,251) |
| Earnings (loss) from continuing operations before income taxes | (20,248) | (5,282) | 7,817 |
| Benefit (provision) for income taxes (Note 14) | (957) | (3,691) | (298) |
| Earnings (loss) from continuing operations | (21,205) | (8,973) | 7,519 |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (1,726) | (315) | (952) |
| Net earnings (loss) | (22,931) | (9,288) | 6,567 |
| Less net earnings (loss) attributable to noncontrolling interests | (129) | (368) | (278) |
| Net earnings (loss) attributable to the Company | (22,802) | (8,920) | 6,845 |
| Preferred stock dividends | 0 | 0 | 0 |
| Net earnings (loss) attributable to GE common shareowners | (22,802) | (8,920) | 6,845 |
| Earnings (loss) from continuing operations | (21,205) | (8,973) | 7,519 |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | (129) | (368) | (278) |
| Earnings (loss) from continuing operations attributable to the Company | (21,076) | (8,605) | 7,797 |
| Preferred stock dividends | 0 | 0 | 0 |
| Earnings (loss) from continuing operations attributable to GE common shareowners | (21,076) | (8,605) | 7,797 |
| Earnings (loss) from discontinued operations, net of taxes | (1,726) | (315) | (952) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 0 | 0 |
| Net earnings (loss) attributable to GE common shareowners | (22,802) | (8,920) | 6,845 |
| Goods | |||
| Sales | 74,854 | 75,068 | 76,887 |
| Cost of goods and services | 63,137 | 63,180 | 62,793 |
| Product and Service | |||
| Goods | |||
| Sales | 74,855 | 74,990 | 76,721 |
| Cost of goods and services | 63,116 | 63,075 | 62,605 |
| Services | |||
| Sales | 38,689 | 35,977 | 33,450 |
| Cost of goods and services | 29,555 | 27,808 | 25,047 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GENERAL ELECTRIC CO | |||
Ticker: GE Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net earnings (loss) | $ (22,443) | (8,849) | 7,211 |
| Less net earnings (loss) attributable to noncontrolling interests | (89) | (365) | (289) |
| Net earnings (loss) attributable to the Company | (22,355) | (8,484) | 7,500 |
| Other comprehensive income (loss) | |||
| Investment securities | 64 | (776) | 203 |
| Currency translation adjustments | (1,664) | 2,178 | (1,298) |
| Cash flow hedges | (51) | 51 | 93 |
| Benefit plans | 1,416 | 2,782 | (1,068) |
| Other comprehensive income (loss) | (235) | 4,236 | (2,070) |
| Less other comprehensive income (loss) attributable to noncontrolling interests | (225) | 51 | (14) |
| Other comprehensive income (loss) attributable to the Company | (10) | 4,184 | (2,056) |
| Comprehensive income (loss) | (22,678) | (4,613) | 5,141 |
| Less comprehensive income (loss) attributable to noncontrolling interests | (314) | (314) | (303) |
| Comprehensive income (loss) attributable to the Company | (22,364) | (4,300) | 5,444 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GENERAL ELECTRIC CO | |||
Ticker: GE Fiscal Year: 2018 | |||
STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows operating activities | |||
| Net earnings (loss) | $ (22,443) | (8,849) | 7,211 |
| (Earnings) loss from discontinued operations | 1,726 | 309 | 954 |
| Adjustments to reconcile net earnings (loss) to cash provided from operating activities: | |||
| Depreciation and amortization of property, plant and equipment (Note 7) | 5,562 | 5,139 | 4,997 |
| Amortization of intangible assets (Note 8) | 2,662 | 2,290 | 2,073 |
| Goodwill impairments (Note 8) | 22,136 | 2,550 | 0 |
| (Earnings) loss from continuing operations retained by GE Capital | 0 | 0 | 0 |
| (Gains) losses on purchases and sales of business interests (Note 18) | (1,582) | (1,021) | (3,731) |
| Principal pension plans cost (Note 13) | 4,260 | 3,687 | 3,623 |
| Principal pension plans employer contributions (Note 13) | (6,283) | (1,978) | (552) |
| Other postretirement benefit plans (net) (Note 13) | (1,101) | (888) | (716) |
| Provision (benefit) for income taxes (Note 14) | 583 | (2,611) | (1,133) |
| Cash recovered (paid) during the year for income taxes | (1,864) | (2,436) | (7,280) |
| Decrease (increase) in contract and other deferred assets | (92) | (1,898) | (2,617) |
| Decrease (increase) in GE current receivables | (430) | (2,846) | 1,460 |
| Decrease (increase) in inventories | (902) | 1,183 | (815) |
| Increase (decrease) in accounts payable | 2,199 | (394) | 1,228 |
| Increase (decrease) in GE progress collections | (502) | 1,737 | 1,725 |
| All other operating activities | 735 | 13,027 | 1,078 |
| Cash from (used for) operating activities continuing operations | 4,662 | 7,000 | 7,503 |
| Cash from (used for) operating activities discontinued operations | (416) | (968) [1] | (6,343) |
| Cash from (used for) operating activities | 4,246 | 6,032 | 1,160 |
| Cash flows investing activities | |||
| Additions to property, plant and equipment | (7,695) | (7,371) | (7,199) |
| Dispositions of property, plant and equipment | 4,519 | 5,746 | 4,424 |
| Additions to internal-use software | (361) | (549) | (749) |
| Net decrease (increase) in GE Capital financing receivables | 1,796 | 805 | 200 |
| Proceeds from sale of discontinued operations | 29 | 1,464 | 59,890 |
| Proceeds from principal business dispositions | 8,884 | 3,228 | 5,357 |
| Net cash from (payments for) principal businesses purchased | (90) | (6,087) | (2,271) |
| All other investing activities | 10,969 | 11,112 | 2,913 |
| Cash from (used for) investing activities continuing operations | 18,052 | 8,348 | 62,566 |
| Cash from (used for) investing activities discontinued operations | 187 | (1,784) | (13,431) |
| Cash from (used for) investing activities | 18,239 | 6,564 | 49,135 |
| Cash flows financing activities | |||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (4,436) | 1,794 | (1,135) |
| Newly issued debt (maturities longer than 90 days) | 3,201 | 14,876 | 1,492 |
| Repayments and other reductions (maturities longer than 90 days) | (21,166) | (25,622) | (58,768) |
| Net dispositions (purchases) of GE shares for treasury | (17) | (2,550) | (21,429) |
| Dividends paid to shareowners | (4,474) | (8,650) | (8,806) |
| All other financing activities | (4,141) | (903) | (2,607) |
| Cash from (used for) financing activities continuing operations | (31,033) | (21,055) | (91,253) |
| Cash from (used for) financing activities discontinued operations | 0 | 1,909 | 789 |
| Cash from (used for) financing activities | (31,033) | (19,146) | (90,464) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (628) | 891 | (1,146) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (9,176) | (5,660) | (41,315) |
| Cash, cash equivalents and restricted cash at beginning of year | 44,724 | 50,384 | |
| Cash, cash equivalents and restricted cash at end of year | 35,548 | 44,724 | 50,384 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 528 | 757 | 1,601 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 35,020 [2] | 43,967 | 48,783 |
| Supplemental disclosure of cash flows information | |||
| Cash paid during the year for interest | (4,409) | (4,211) | (5,779) |
| Legal Entity | |||
| GE | |||
| Net earnings (loss) | (22,931) | (9,288) | 6,567 |
| (Earnings) loss from discontinued operations | 1,726 | 315 | 952 |
| Depreciation and amortization of property, plant and equipment (Note 7) | 3,433 | 2,857 | 2,597 |
| Amortization of intangible assets (Note 8) | 2,608 | 2,225 | 1,942 |
| Goodwill impairments (Note 8) | 22,136 | 1,165 | 0 |
| (Earnings) loss from continuing operations retained by GE Capital | 489 | 10,781 | 21,345 |
| (Gains) losses on purchases and sales of business interests (Note 18) | (1,294) | (1,021) | (3,731) |
| Principal pension plans cost (Note 13) | 4,260 | 3,687 | 3,623 |
| Principal pension plans employer contributions (Note 13) | (6,283) | (1,978) | (552) |
| Other postretirement benefit plans (net) (Note 13) | (1,084) | (865) | (715) |
| Provision (benefit) for income taxes (Note 14) | 957 | 3,691 | 298 |
| Cash recovered (paid) during the year for income taxes | (1,803) | (2,700) | (2,547) |
| Decrease (increase) in contract and other deferred assets | (92) | (1,898) | (2,617) |
| Decrease (increase) in GE current receivables | (1,233) | 310 | 875 |
| Decrease (increase) in inventories | (941) | 1,200 | (762) |
| Increase (decrease) in accounts payable | 2,548 | (429) | 1,746 |
| Increase (decrease) in GE progress collections | (364) | 1,763 | 1,803 |
| All other operating activities | 125 | 1,221 | (851) |
| Cash from (used for) operating activities continuing operations | 2,258 | 11,033 | 29,972 |
| Cash from (used for) operating activities discontinued operations | 0 | (1) | (90) |
| Cash from (used for) operating activities | 2,257 | 11,033 | 29,882 |
| Additions to property, plant and equipment | (3,302) | (4,132) | (3,758) |
| Dispositions of property, plant and equipment | 698 | 1,401 | 1,080 |
| Additions to internal-use software | (347) | (518) | (740) |
| Net decrease (increase) in GE Capital financing receivables | 0 | 0 | 0 |
| Proceeds from sale of discontinued operations | 0 | 0 | 0 |
| Proceeds from principal business dispositions | 6,507 | 3,106 | 5,357 |
| Net cash from (payments for) principal businesses purchased | (90) | (6,087) [3] | (2,271) |
| All other investing activities | (1,190) | (2,061) | (1,349) |
| Cash from (used for) investing activities continuing operations | 2,276 | (8,291) | (1,681) |
| Cash from (used for) investing activities discontinued operations | 0 | 1 | 90 |
| Cash from (used for) investing activities | 2,277 | (8,291) | (1,592) |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (1,197) | 1,704 | 1,655 |
| Newly issued debt (maturities longer than 90 days) | 6,651 | 20,264 | 5,307 |
| Repayments and other reductions (maturities longer than 90 days) | (1,870) | (5,981) | (4,155) |
| Net dispositions (purchases) of GE shares for treasury | (17) | (2,550) | (21,429) |
| Dividends paid to shareowners | (4,179) | (8,355) | (8,474) |
| All other financing activities | (1,723) | (528) | (273) |
| Cash from (used for) financing activities continuing operations | (2,334) | 4,554 | (27,371) |
| Cash from (used for) financing activities discontinued operations | 0 | 0 | 0 |
| Cash from (used for) financing activities | (2,334) | 4,554 | (27,371) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (494) | 444 | (392) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,706 | 7,739 | 527 |
| Cash, cash equivalents and restricted cash at beginning of year | 20,528 | 11,083 | 11,083 |
| Cash, cash equivalents and restricted cash at end of year | 20,528 | 11,083 | 11,083 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 0 | 0 | 0 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 20,528 | 18,822 | 11,083 |
| Cash paid during the year for interest | (2,201) | (2,347) | (1,753) |
| Financial Services (GE Capital) | |||
| Net earnings (loss) | (1,672) | (6,643) | (1,560) |
| (Earnings) loss from discontinued operations | 1,670 | 312 | 954 |
| Depreciation and amortization of property, plant and equipment (Note 7) | 2,110 | 2,277 | 2,384 |
| Amortization of intangible assets (Note 8) | 53 | 65 | 131 |
| Goodwill impairments (Note 8) | 0 | 1,386 | 0 |
| (Earnings) loss from continuing operations retained by GE Capital | 0 | 0 [4] | 0 |
| (Gains) losses on purchases and sales of business interests (Note 18) | (288) | 0 | 0 |
| Principal pension plans cost (Note 13) | 0 | 0 | 0 |
| Principal pension plans employer contributions (Note 13) | 0 | 0 | 0 |
| Other postretirement benefit plans (net) (Note 13) | (18) | (23) | (1) |
| Provision (benefit) for income taxes (Note 14) | (374) | (6,302) | (1,431) |
| Cash recovered (paid) during the year for income taxes | (61) | 264 | (4,734) |
| Decrease (increase) in contract and other deferred assets | 0 | 0 | 0 |
| Decrease (increase) in GE current receivables | 0 | 0 | 0 |
| Decrease (increase) in inventories | 31 | (2) | (10) |
| Increase (decrease) in accounts payable | 2 | (75) | 17 |
| Increase (decrease) in GE progress collections | 0 | 0 | 0 |
| All other operating activities | 127 | 11,115 | 4,032 |
| Cash from (used for) operating activities continuing operations | 1,582 | 2,374 | (219) |
| Cash from (used for) operating activities discontinued operations | (415) | (968) | (6,253) |
| Cash from (used for) operating activities | 1,166 | 1,407 | (6,472) |
| Additions to property, plant and equipment | (4,569) | (3,680) | (3,769) |
| Dispositions of property, plant and equipment | 3,853 | 4,579 | 3,637 |
| Additions to internal-use software | (14) | (31) | (8) |
| Net decrease (increase) in GE Capital financing receivables | 9,986 | 2,897 | (1,279) |
| Proceeds from sale of discontinued operations | 29 | 1,464 | 59,890 |
| Proceeds from principal business dispositions | 2,011 | 0 | 0 |
| Net cash from (payments for) principal businesses purchased | 0 | 0 | 0 |
| All other investing activities | 482 | 3,013 | 1,297 |
| Cash from (used for) investing activities continuing operations | 11,777 | 8,242 | 59,769 |
| Cash from (used for) investing activities discontinued operations | 186 | (1,784) | (13,521) |
| Cash from (used for) investing activities | 11,964 | 6,458 | 46,248 |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (4,308) | 69 | (1,655) |
| Newly issued debt (maturities longer than 90 days) | 3,045 | 1,909 | 1,174 |
| Repayments and other reductions (maturities longer than 90 days) | (19,836) | (21,007) | (58,285) |
| Net dispositions (purchases) of GE shares for treasury | 0 | 0 | 0 |
| Dividends paid to shareowners | (371) | (4,311) | (20,427) |
| All other financing activities | (2,408) | (280) | (2,460) |
| Cash from (used for) financing activities continuing operations | (23,878) | (23,619) | (81,653) |
| Cash from (used for) financing activities discontinued operations | 0 | 1,909 | 789 |
| Cash from (used for) financing activities | (23,878) | (21,710) | (80,864) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (134) | 447 | (754) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (10,882) | (13,399) | (41,842) |
| Cash, cash equivalents and restricted cash at beginning of year | 15,020 | 39,301 | 39,301 |
| Cash, cash equivalents and restricted cash at end of year | 15,020 | 39,301 | 39,301 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 528 | 757 | 1,601 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 14,492 | 25,145 | 37,700 |
| Cash paid during the year for interest | (2,883) | (2,793) | (4,982) |
| [1] Included cash recovered (paid) during the year for income taxes of $(4) million, an insignificant amount and $(188) million for the years ended December 31, 2018, 2017 and 2016, respectively. | |||
| [2] Included restricted cash of $492 million and $668 million at December 31, 2018 and December 31, 2017, respectively. | |||
| [3] Represents the adding together of all affiliated companies except GE Capital, which is presented on a one-line basis. See Note 1. | |||
| [4] Represents GE Capital earnings/loss from continuing operations attributable to the Company, net of GE Capital dividends paid to GE. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GENERAL ELECTRIC CO | ||
Ticker: GE Fiscal Year: 2018 | ||
STATEMENT OF FINANCIAL POSITION | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Cash, cash equivalents and restricted cash | $ 35,020 [1] | 43,967 |
| Investment securities (Note 3) | 33,835 | 38,696 |
| Current receivables (Note 4) | 19,874 | 24,209 |
| Inventories (Note 5) | 19,271 | 19,419 |
| Financing receivables net (Note 6) | 7,699 | 10,336 |
| Other GE Capital receivables | 6,218 | 6,301 |
| Property, plant and equipment net (Note 7) | 50,749 | 53,874 |
| Receivable from GE Capital(c)(d) | 0 | 0 |
| Investment in GE Capital | 0 | 0 |
| Goodwill (Note 8) | 59,614 | 83,968 |
| Other intangible assets net (Note 8) | 18,159 | 20,273 |
| Contract and other deferred assets (Note 10) | 20,000 | 20,356 |
| All other assets | 20,018 | 28,949 |
| Deferred income taxes (Note 14) | 12,432 | 8,819 |
| Assets of businesses held for sale (Note 2) | 1,630 | 4,164 |
| Assets of discontinued operations (Note 2) | 4,610 | 5,912 |
| Total assets | 309,129 [2] | 369,245 |
| Liabilities and equity | ||
| Short-term borrowings (Note 11) | 12,849 | 24,036 |
| Short-term borrowings assumed by GE (Note 11) | 0 | 0 |
| Accounts payable, principally trade accounts | 17,153 | 15,172 |
| Progress collections and deferred income (Note 10) | 20,895 | 22,117 |
| Dividends payable | 95 | 1,052 |
| Other GE current liabilities | 16,345 | 16,919 |
| Non-recourse borrowings of consolidated securitization entities (Note 11) | 1,875 | 1,980 |
| Long-term borrowings (Note 11) | 95,234 | 108,575 |
| Long-term borrowings assumed by GE (Note 11) | 0 | 0 |
| Investment contracts, insurance liabilities and insurance annuity benefits (Note 12) | 35,562 | 38,136 |
| Non-current compensation and benefits | 33,783 | 41,630 |
| All other liabilities | 20,892 | 20,784 |
| Liabilities of businesses held for sale (Note 2) | 708 | 1,248 |
| Liabilities of discontinued operations (Note 2) | 1,875 | 706 |
| Total liabilities | 257,266 | 292,355 |
| Redeemable noncontrolling interests (Note 15) | 382 | 3,391 |
| Preferred stock (5,939,875 shares outstanding at both December 31, 2018 and December 31, 2017) | 6 | 6 |
| Common stock (8,702,227,000 and 8,680,571,000 shares outstanding at December 31, 2018 and December 31, 2017, respectively) | 702 | 702 |
| Accumulated other comprehensive income (loss) net attributable to GE | ||
| Investment securities | (39) | (102) |
| Currency translation adjustments | (6,134) | (4,661) [3] |
| Cash flow hedges | 13 | 62 |
| Benefit plans | (8,254) | (9,702) |
| Other capital | 35,504 | 37,384 |
| Retained earnings | 93,109 | 117,245 |
| Less common stock held in treasury | (83,925) | (84,902) |
| Total GE shareowners equity | 30,981 | 56,030 |
| Noncontrolling interests (Note 15) | 20,500 [4] | 17,468 |
| Total equity (Note 15) | 51,481 | 73,498 |
| Total liabilities, redeemable noncontrolling interests and equity | 309,129 | 369,245 |
| Legal Entity | ||
| Financial Services (GE Capital) | ||
| Cash, cash equivalents and restricted cash | 14,492 | 25,145 |
| Investment securities (Note 3) | 33,393 | 38,231 |
| Current receivables (Note 4) | 0 | 0 |
| Inventories (Note 5) | 50 | 75 |
| Financing receivables net (Note 6) | 13,628 | 21,967 |
| Other GE Capital receivables | 15,361 | 16,945 |
| Property, plant and equipment net (Note 7) | 29,510 | 30,595 |
| Receivable from GE Capital(c)(d) | 0 [5] | 0 |
| Investment in GE Capital | 0 | 0 |
| Goodwill (Note 8) | 904 | 984 |
| Other intangible assets net (Note 8) | 236 | 259 |
| Contract and other deferred assets (Note 10) | 0 | 0 |
| All other assets | 9,819 | 15,606 |
| Deferred income taxes (Note 14) | 1,936 | 999 |
| Assets of businesses held for sale (Note 2) | 0 | 0 |
| Assets of discontinued operations (Note 2) | 4,610 | 5,912 |
| Total assets | 123,939 | 156,716 |
| Short-term borrowings (Note 11) | 4,999 | 11,291 [6] |
| Short-term borrowings assumed by GE (Note 11) | 2,684 | 8,310 |
| Accounts payable, principally trade accounts | 1,612 | 1,853 |
| Progress collections and deferred income (Note 10) | 0 | 0 |
| Dividends payable | 0 | 0 |
| Other GE current liabilities | 0 | 0 |
| Non-recourse borrowings of consolidated securitization entities (Note 11) | 1,875 | 1,980 |
| Long-term borrowings (Note 11) | 36,154 | 42,081 |
| Long-term borrowings assumed by GE (Note 11) | 19,828 | 31,533 |
| Investment contracts, insurance liabilities and insurance annuity benefits (Note 12) | 35,994 | 38,587 |
| Non-current compensation and benefits | 856 | 801 |
| All other liabilities | 6,724 | 5,886 |
| Liabilities of businesses held for sale (Note 2) | 0 | 0 |
| Liabilities of discontinued operations (Note 2) | 1,800 | 683 |
| Total liabilities | 112,527 | 143,007 |
| Redeemable noncontrolling interests (Note 15) | 0 | 0 |
| Preferred stock (5,939,875 shares outstanding at both December 31, 2018 and December 31, 2017) | 6 | 6 |
| Common stock (8,702,227,000 and 8,680,571,000 shares outstanding at December 31, 2018 and December 31, 2017, respectively) | 0 | 0 |
| Investment securities | (32) | (99) |
| Currency translation adjustments | (162) | (225) |
| Cash flow hedges | 53 | 54 |
| Benefit plans | (642) | (524) |
| Other capital | 12,883 | 12,806 |
| Retained earnings | (694) | 1,476 |
| Less common stock held in treasury | 0 | 0 |
| Total GE shareowners equity | 11,412 | 13,493 |
| Noncontrolling interests (Note 15) | 1 | 217 |
| Total equity (Note 15) | 11,412 | 13,709 |
| Total liabilities, redeemable noncontrolling interests and equity | 123,939 | 156,716 |
| Consolidated Entities | ||
| GE | ||
| Cash, cash equivalents and restricted cash | 20,528 | 18,822 |
| Investment securities (Note 3) | 514 | 569 |
| Current receivables (Note 4) | 15,418 | 14,638 |
| Inventories (Note 5) | 19,222 | 19,344 |
| Financing receivables net (Note 6) | 0 | 0 |
| Other GE Capital receivables | 0 | 0 |
| Property, plant and equipment net (Note 7) | 21,967 | 23,963 |
| Receivable from GE Capital(c)(d) | 22,513 | 39,844 |
| Investment in GE Capital | 11,412 | 13,493 |
| Goodwill (Note 8) | 58,710 | 82,985 |
| Other intangible assets net (Note 8) | 17,923 | 20,014 |
| Contract and other deferred assets (Note 10) | 20,000 | 20,356 |
| All other assets | 10,288 | 13,627 |
| Deferred income taxes (Note 14) | 10,491 | 7,815 |
| Assets of businesses held for sale (Note 2) | 1,525 | 3,799 [7] |
| Assets of discontinued operations (Note 2) | 0 | 0 |
| Total assets | 230,510 | 279,267 |
| Short-term borrowings (Note 11) | 5,220 | 6,237 |
| Short-term borrowings assumed by GE (Note 11) | 4,207 | 8,310 |
| Accounts payable, principally trade accounts | 22,972 | 21,851 |
| Progress collections and deferred income (Note 10) | 21,151 | 22,221 |
| Dividends payable | 95 | 1,052 |
| Other GE current liabilities | 16,345 | 16,919 |
| Non-recourse borrowings of consolidated securitization entities (Note 11) | 0 | 0 |
| Long-term borrowings (Note 11) | 27,089 | 28,236 |
| Long-term borrowings assumed by GE (Note 11) | 32,054 | 38,804 [8] |
| Investment contracts, insurance liabilities and insurance annuity benefits (Note 12) | 0 | 0 |
| Non-current compensation and benefits | 32,918 | 40,820 |
| All other liabilities | 15,772 | 16,873 |
| Liabilities of businesses held for sale (Note 2) | 748 | 1,248 |
| Liabilities of discontinued operations (Note 2) | 76 | 23 |
| Total liabilities | 178,648 | 202,595 |
| Redeemable noncontrolling interests (Note 15) | 382 | 3,391 |
| Preferred stock (5,939,875 shares outstanding at both December 31, 2018 and December 31, 2017) | 6 | 6 |
| Common stock (8,702,227,000 and 8,680,571,000 shares outstanding at December 31, 2018 and December 31, 2017, respectively) | 702 | 702 |
| Investment securities | (39) | (102) |
| Currency translation adjustments | (6,134) | (4,661) |
| Cash flow hedges | 13 | 62 |
| Benefit plans | (8,254) | (9,702) |
| Other capital | 35,504 | 37,384 |
| Retained earnings | 93,109 | 117,245 |
| Less common stock held in treasury | (83,925) | (84,902) |
| Total GE shareowners equity | 30,981 | 56,030 |
| Noncontrolling interests (Note 15) | 20,499 | 17,252 |
| Total equity (Note 15) | 51,480 | 73,282 |
| Total liabilities, redeemable noncontrolling interests and equity | 230,510 | 279,267 |
| [6] At December 31, 2018, total GE borrowings is comprised of GE-issued borrowings of $32,309 million ($5,220 million short term and $27,089 million long term) and the $13,749 million of borrowings from GE Capital as described in note (c) above for a total of $46,058 million (including $6,330 million BHGE borrowings). See Note 11 and the Borrowings section of Capital Resources and Liquidity within MD&A for further information. | ||
| [7] Represents the adding together of all affiliated companies except GE Capital, which is presented on a one-line basis. See Note 1. | ||
| [8] At December 31, 2018, the remaining GE Capital borrowings that had been assumed by GE as part of the GE Capital Exit Plan was $36,262 million ($4,207 million short term and $32,054 million long term), for which GE has an offsetting Receivable from GE Capital of $22,513 million. The difference of $13,749 million represents the amount of borrowings GE Capital had funded with available cash to GE via an intercompany loan in lieu of GE issuing borrowings externally. See Note 11 and the Borrowings section of Cap | ||
| [1] Included restricted cash of $492 million and $668 million at December 31, 2018 and December 31, 2017, respectively. | ||
| [2] Our consolidated assets at December 31, 2018 included total assets of $5,475 million of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs. These assets included current receivables and net financing receivables of $3,158 million and investment securities of $35 million within continuing operations and assets of discontinued operations of $133 million. Our consolidated liabilities at December 31, 2018 included liabilities of certain VIEs for which the VIE | ||
| [3] The sum of accumulated other comprehensive income (loss) (AOCI) attributable to the Company was $(14,414) million and $(14,404) million at December 31, 2018 and December 31, 2017, respectively. | ||
| [4] Included AOCI attributable to noncontrolling interests of $(451) million and $(226) million at December 31, 2018 and December 31, 2017, respectively. | ||
| [5] GE restricted cash was $459 million and $611 million at December 31, 2018 and December 31, 2017, respectively, and GE Capital restricted cash was $33 million and $57 million at December 31, 2018 and December 31, 2017, respectively. | ||
| External Links | |
| GENERAL ELECTRIC CO (GE) Fiscal Year 2018 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |