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 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 |
| [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. | ||
| [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 | ||
| 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 |