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 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) |
| [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. | |||
| [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. | |||
| 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 |