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: 2021 | |||
STATEMENT OF EARNINGS (LOSS) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Insurance revenues (Note 11) | $ 3,106 | 2,865 | 2,802 |
| Total revenues (Note 23) | 74,196 | 75,833 | 90,221 |
| Costs and expenses | |||
| Selling, general and administrative expenses | 11,707 | 12,592 | 13,806 |
| Research and development | 2,497 | 2,565 | 3,118 |
| Interest and other financial charges | 1,876 | 2,068 | 2,927 |
| Debt extinguishment costs (Note 10) | 6,524 | 301 | 256 |
| Insurance losses and annuity benefits (Note 11) | 2,283 | 2,397 | 3,294 |
| Goodwill impairments (Note 7) | 0 | 877 | 1,486 |
| Non-operating benefit costs | 1,782 | 2,430 | 2,839 |
| Other costs and expenses | 136 | 159 | 176 |
| Total costs and expenses | 80,702 | 81,259 | 92,754 |
| Other income (Note 18) | 2,823 | 11,396 | 2,479 |
| Earnings (loss) from continuing operations before income taxes | (3,683) | 5,970 | (54) |
| Benefit (provision) for income taxes (Note 14) | 286 | 487 | (552) |
| Earnings (loss) from continuing operations | (3,396) | 6,457 | (606) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (3,195) | (911) | (4,306) |
| Net earnings (loss) | (6,591) | 5,546 | (4,912) |
| Less net earnings (loss) attributable to noncontrolling interests | (71) | (158) | 66 |
| Net earnings (loss) attributable to the Company | (6,520) | 5,704 | (4,979) |
| Preferred stock dividends | (237) | (474) | (460) |
| Net earnings (loss) attributable to GE common shareholders | (6,757) | 5,230 | (5,439) |
| Amounts attributable to GE common shareholders | |||
| Earnings (loss) from continuing operations | (3,396) | 6,457 | (606) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | (71) | (158) | 7 |
| Earnings (loss) from continuing operations attributable to the Company | (3,325) | 6,615 | (613) |
| Preferred stock dividends | (237) | (474) | (460) |
| Earnings (loss) from continuing operations attributable to GE common shareholders | (3,562) | 6,141 | (1,073) |
| Earnings (loss) from discontinued operations attributable to GE common shareholders | (3,195) | (911) | (4,366) |
| Net earnings (loss) attributable to GE common shareholders | (6,757) | 5,230 | (5,439) |
| Earnings (loss) per share from continuing operations (Note 17) | |||
| Diluted earnings (loss) per share (in dollars per share) | (3.25) | 5.46 | (0.98) |
| Basic earnings (loss) per share (in dollars per share) | (3.25) | 5.46 | (0.98) |
| Net earnings (loss) per share (Note 17) | |||
| Diluted earnings (loss) per share (in dollars per share) | (6.16) | 4.63 | (4.99) |
| Basic earnings (loss) per share (in dollars per share) | (6.16) | 4.63 | (4.99) |
| Product and Service | |||
| Equipment | |||
| Sales | 34,200 | 37,584 | 42,811 |
| Cost of sales | 31,399 | 35,242 | 37,572 |
| Services | |||
| Sales | 36,890 | 35,385 | 44,608 |
| Cost of sales | 22,497 | 22,629 | 27,280 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GENERAL ELECTRIC CO | |||
Ticker: GE Fiscal Year: 2021 | |||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net earnings (loss) | $ (6,591) | 5,546 | (4,912) |
| Less net earnings (loss) attributable to noncontrolling interests | (71) | (158) | 66 |
| Net earnings (loss) attributable to the Company | (6,520) | 5,704 | (4,979) |
| Other comprehensive income (loss) | |||
| Currency translation adjustments | (174) | 435 | 1,275 |
| Benefit plans | 9,044 | 1,632 | 1,229 |
| Investment securities and cash flow hedges | 2,466 | (78) | 136 |
| Less: other comprehensive income (loss) attributable to noncontrolling interests | 5 | 6 | (40) |
| Other comprehensive income (loss) attributable to the Company | 11,330 | 1,984 | 2,681 |
| Comprehensive income (loss) | 4,745 | 7,536 | (2,272) |
| Less: comprehensive income (loss) attributable to noncontrolling interests | (66) | (152) | 26 |
| Comprehensive income (loss) attributable to the Company | 4,810 | 7,688 | (2,297) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GENERAL ELECTRIC CO | |||
Ticker: GE Fiscal Year: 2021 | |||
STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows operating activities | |||
| Net earnings (loss) | $ (6,591) | 5,546 | (4,912) |
| (Earnings) loss from discontinued operations | 3,195 | 911 | 4,306 |
| Adjustments to reconcile net earnings (loss) to cash provided from operating activities | |||
| Depreciation and amortization of property, plant and equipment | 1,871 | 2,128 | 2,018 |
| Amortization of intangible assets | 1,138 | 1,336 | 1,523 |
| Goodwill impairments (Note 7) | 0 | 877 | 1,486 |
| (Gains) losses on purchases and sales of business interests (Note 18) | 40 | (12,469) | 14 |
| (Gains) losses on equity securities (Note 18) | (1,656) | 2,085 | (696) |
| Debt extinguishment costs (Note 10) | 6,524 | 301 | 256 |
| Principal pension plans cost (Note 12) | 2,650 | 3,559 | 3,878 |
| Principal pension plans employer contributions (Note 12) | (326) | (2,806) | (298) |
| Other postretirement benefit plans (net) (Note 12) | (1,144) | (893) | (1,228) |
| Provision (benefit) for income taxes (Note 14) | (286) | (487) | 552 |
| Cash recovered (paid) during the year for income taxes | (1,165) | (1,441) | (1,950) |
| Changes in operating working capital: | |||
| Decrease (increase) in current receivables | (177) | (1,319) | (2,851) |
| Decrease (increase) in inventories, including deferred inventory costs | (702) | 1,105 | (1,581) |
| Decrease (increase) in current contract assets | 1,031 | 1,631 | 891 |
| Increase (decrease) in accounts payable and equipment project accruals | (2) | (582) | 2,679 |
| Increase (decrease) in progress collections and current deferred income | (1,052) | (247) | 1,476 |
| Financial services derivatives net collateral/settlement | (1,143) | 1,897 | 1,278 |
| All other operating activities | (1,317) | (109) | 2,000 |
| Cash from (used for) operating activities continuing operations | 888 | 1,025 | 8,838 |
| Cash from (used for) operating activities discontinued operations | 2,444 | 2,543 | (104) |
| Cash from (used for) operating activities | 3,332 | 3,568 | 8,734 |
| Cash flows investing activities | |||
| Additions to property, plant and equipment | (1,250) | (1,579) | (2,216) |
| Dispositions of property, plant and equipment | 167 | 203 | 379 |
| Additions to internal-use software | (111) | (151) | (282) |
| Proceeds from sale of discontinued operations | 22,356 | 0 | 5,864 |
| Proceeds from principal business dispositions | 1 | 20,562 | 1,124 |
| Net cash from (payments for) principal businesses purchased | (1,550) | (85) | (68) |
| Sales of retained ownership interests | 4,145 | 417 | 3,383 |
| Net (purchases) dispositions of insurance investment securities | (1,290) | (1,352) | (1,600) |
| All other investing activities | 1,237 | 1,280 | 5,613 |
| Cash from (used for) investing activities continuing operations | 23,705 | 19,297 | 12,197 |
| Cash from (used for) investing activities discontinued operations | (2,397) | (2,626) | (3,220) |
| Cash from (used for) investing activities | 21,308 | 16,671 | 8,977 |
| Cash flows financing activities | |||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (710) | (4,168) | 280 |
| Newly issued debt (maturities longer than 90 days) | 364 | 15,028 | 2,185 |
| Repayments and other debt reductions (maturities longer than 90 days) | (36,521) | (29,632) | (16,307) |
| Dividends paid to shareholders | (575) | (648) | (649) |
| Cash paid for debt extinguishment costs | (7,196) | (335) | (255) |
| All other financing activities | (658) | (6) | (941) |
| Cash from (used for) financing activities continuing operations | (45,296) | (19,762) | (15,686) |
| Cash from (used for) financing activities discontinued operations | 119 | (90) | (446) |
| Cash from (used for) financing activities | (45,177) | (19,852) | (16,133) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (213) | 145 | (50) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (20,750) | 531 | 1,529 |
| Cash, cash equivalents and restricted cash at beginning of year | 37,608 | 37,077 | |
| Cash, cash equivalents and restricted cash at December 31 | 16,859 | 37,608 | 37,077 |
| Less cash, cash equivalents and restricted cash of discontinued operations at December 31 | 736 | 623 | 774 |
| Cash, cash equivalents and restricted cash of continuing operations at December 31 | 16,123 | 36,985 | 36,303 |
| Supplemental disclosure of cash flows information | |||
| Cash paid during the year for interest | (2,536) | (2,976) | (4,101) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GENERAL ELECTRIC CO | ||
Ticker: GE Fiscal Year: 2021 | ||
STATEMENT OF FINANCIAL POSITION | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Cash, cash equivalents and restricted cash | $ 15,770 [1] | 36,530 |
| Investment securities (Note 3) | 12,297 | 7,319 |
| Current receivables (Note 4) | 15,620 | 16,691 |
| Inventories, including deferred inventory costs (Note 5) | 15,847 | 15,890 |
| Current contract assets (Note 8) | 4,881 | 5,764 |
| All other current assets (Note 9) | 1,933 | 2,659 |
| Current assets | 66,348 | 84,853 |
| Investment securities (Note 3) | 42,209 | 42,549 |
| Property, plant and equipment net (Note 6) | 15,609 | 16,699 |
| Goodwill (Note 7) | 26,182 | 25,524 |
| Other intangible assets net (Note 7) | 9,330 | 9,671 |
| Contract and other deferred assets (Note 8) | 6,124 | 5,888 |
| All other assets (Note 9) | 19,040 | 16,025 |
| Deferred income taxes (Note 14) | 10,855 | 14,253 |
| Assets of discontinued operations (Note 2) | 3,177 | 40,749 |
| Total assets | 198,874 | 256,211 |
| Short-term borrowings (Note 10) | 4,361 | 4,713 |
| Accounts payable and equipment project accruals | 16,243 | 16,458 |
| Progress collections and deferred income (Note 8) | 17,372 | 18,371 |
| All other current liabilities (Note 13) | 13,977 | 15,071 |
| Current liabilities | 51,953 | 54,613 |
| Deferred income (Note 8) | 1,989 | 1,801 |
| Long-term borrowings (Note 10) | 30,824 | 70,189 |
| Insurance liabilities and annuity benefits (Note 11) | 37,166 | 42,191 |
| Non-current compensation and benefits | 21,202 | 29,677 |
| All other liabilities (Note 13) | 13,240 | 14,781 |
| Liabilities of discontinued operations (Note 2) | 887 | 5,886 |
| Total liabilities | 157,262 | 219,138 |
| Preferred stock (5,939,875 shares outstanding at both December 31, 2021 and December 31, 2020) | 6 | 6 |
| Common stock (1,099,027,213 and 1,095,686,581 shares outstanding at December 31, 2021 and December 31, 2020, respectively) | 15 | 702 |
| Accumulated other comprehensive income (loss) net attributable to GE | 1,582 | (9,749) |
| Other capital | 34,691 | 34,307 |
| Retained earnings | 85,110 | 92,247 |
| Less common stock held in treasury | (81,093) | (81,961) |
| Total GE shareholders equity | 40,310 | 35,552 |
| Noncontrolling interests (Note 15) | 1,302 | 1,522 |
| Total equity | 41,612 | 37,073 |
| Total liabilities and equity | 198,874 | 256,211 |
| [1] Excluded $353 million and $455 million at December 31, 2021 and December 31, 2020, respectively, in our run-off Insurance business, which is subject to regulatory restrictions. This balance is included in All other assets. See Note 9 for further information. | ||
| External Links | |
| GENERAL ELECTRIC CO (GE) Fiscal Year 2021 | |
| 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 |