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: 2019 | |||
STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flows operating activities | |||
| Net earnings (loss) | $ (4,912) | (22,443) | (8,849) |
| (Earnings) loss from discontinued operations | 5,335 | 1,363 | 312 |
| Adjustments to reconcile net earnings (loss) to cash provided from operating activities: | |||
| Depreciation and amortization of property, plant and equipment (Note 7) | 4,026 | 4,419 | 4,332 |
| Amortization of intangible assets (Note 8) | 1,569 | 2,163 | 1,862 |
| Goodwill impairments (Note 8) | 1,486 | 22,136 | 2,550 |
| (Earnings) loss from continuing operations retained by GE Capital | 0 | 0 | 0 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (53) | (1,522) | (1,024) |
| Principal pension plans cost (Note 13) | 3,878 | 4,226 | 3,687 |
| Principal pension plans employer contributions (Note 13) | (298) | (6,283) | (1,978) |
| Other postretirement benefit plans (net) (Note 13) | (1,228) | (1,033) | (888) |
| Provision (benefit) for income taxes (Note 15) | 726 | 93 | (2,808) |
| Cash recovered (paid) during the year for income taxes | (1,950) | (1,404) | (1,924) |
| Decrease (increase) in contract and other deferred assets | 62 | (81) | (1,243) |
| Decrease (increase) in GE current receivables | (2,851) | (358) | (3,902) |
| Decrease (increase) in inventories | (1,109) | (356) | 324 |
| Increase (decrease) in accounts payable | 2,977 | 1,545 | 169 |
| Increase (decrease) in GE progress collections | 1,373 | (571) | 1,912 |
| All other operating activities | 1,388 | 1,317 | 13,308 |
| Cash from (used for) operating activities continuing operations | 10,419 | 3,210 | 5,840 |
| Cash from (used for) operating activities discontinued operations | (1,647) | 1,768 | 714 |
| Cash from (used for) operating activities | 8,772 | 4,978 | 6,554 |
| Cash flows investing activities | |||
| Additions to property, plant and equipment | (5,813) | (6,627) | (6,642) |
| Dispositions of property, plant and equipment | 3,718 | 4,093 | 5,530 |
| Additions to internal-use software | (282) | (320) | (454) |
| Net decrease (increase) in GE Capital financing receivables | 1,117 | 1,796 | 805 |
| Net cash from (payments for) principal businesses purchased | (68) | (1) | (2,722) |
| Capital contribution from GE to GE Capital | 0 | 0 | 0 |
| All other investing activities | 1,466 | 11,530 | 5,538 |
| Cash from (used for) investing activities continuing operations | 10,684 | 18,925 | 6,728 |
| Cash from (used for) investing activities discontinued operations | (1,745) | (645) | (1,349) |
| Cash from (used for) investing activities | 8,939 | 18,280 | 5,379 |
| Cash flows financing activities | |||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | 280 | (4,343) | 1,699 |
| Newly issued debt (maturities longer than 90 days) | 2,185 | 3,120 | 10,879 |
| Repayments and other reductions (maturities longer than 90 days) | (16,567) | (20,319) | (25,220) |
| Capital contribution from GE to GE Capital | 0 | 0 | 0 |
| Net dispositions (purchases) of GE shares for treasury | 29 | (17) | (2,550) |
| Dividends paid to shareholders | (649) | (4,474) | (8,650) |
| All other financing activities | (1,043) | (1,312) | (85) |
| Cash from (used for) financing activities continuing operations | (15,764) | (27,345) | (23,927) |
| Cash from (used for) financing activities discontinued operations | (368) | (4,462) | 5,443 |
| Cash from (used for) financing activities | (16,133) | (31,807) | (18,484) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (50) | (628) | 891 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,529 | (9,176) | (5,659) |
| Cash, cash equivalents and restricted cash at beginning of year | 35,548 | 44,724 | |
| Cash, cash equivalents and restricted cash at end of year | 37,077 | 35,548 | 44,724 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 638 | 4,424 | 7,901 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 36,439 | 31,124 | 36,823 |
| Supplemental disclosure of cash flows information | |||
| Cash paid during the year for interest | (3,816) | (4,409) | (4,211) |
| Disposal Group Classification | |||
| Sale of discontinued operations | |||
| Legal Entity | |||
| GE Capital | |||
| Proceeds from sale of businesses | 0 | 29 | 1,464 |
| Proceeds from sale of businesses | 5,864 | 29 | 1,464 |
| Principal business dispositions | |||
| Proceeds from sale of businesses | 4,683 | 8,425 | 3,208 |
| Proceeds from sale of businesses | 3,938 | 2,011 | 0 |
| Consolidated Entities | |||
| GE | |||
| Disposal Group Classification | |||
| Sale of discontinued operations | |||
| Proceeds from sale of businesses | 5,864 | 0 | 0 |
| Net earnings (loss) | (5,373) | (22,931) | (9,288) |
| (Earnings) loss from discontinued operations | 5,335 | 1,363 | 319 |
| Depreciation and amortization of property, plant and equipment (Note 7) | 2,001 | 2,290 | 2,050 |
| Amortization of intangible assets (Note 8) | 1,512 | 2,109 | 1,796 |
| Goodwill impairments (Note 8) | 1,486 | 22,136 | 1,165 |
| (Earnings) loss from continuing operations retained by GE Capital | 530 | 489 | 10,781 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (3) | (1,234) | (1,024) |
| Principal pension plans cost (Note 13) | 3,878 | 4,226 | 3,687 |
| Principal pension plans employer contributions (Note 13) | (298) | (6,283) | (1,978) |
| Other postretirement benefit plans (net) (Note 13) | (1,213) | (1,015) | (865) |
| Provision (benefit) for income taxes (Note 15) | 1,309 | 467 | 3,493 |
| Cash recovered (paid) during the year for income taxes | (1,904) | (1,343) | (2,188) |
| Decrease (increase) in contract and other deferred assets | 62 | (81) | (1,243) |
| Decrease (increase) in GE current receivables | (3,904) | (966) | 1,040 |
| Decrease (increase) in inventories | (877) | (364) | 339 |
| Increase (decrease) in accounts payable | 684 | 1,595 | (46) |
| Increase (decrease) in GE progress collections | 1,317 | (433) | 1,938 |
| All other operating activities | 72 | 676 | 1,504 |
| Cash from (used for) operating activities continuing operations | 4,614 | 701 | 11,479 |
| Cash from (used for) operating activities discontinued operations | (49) | 2,051 | (195) |
| Cash from (used for) operating activities | 4,565 | 2,752 | 11,284 |
| Additions to property, plant and equipment | (2,216) | (2,234) | (3,403) |
| Dispositions of property, plant and equipment | 371 | 271 | 1,186 |
| Additions to internal-use software | (274) | (306) | (423) |
| Net decrease (increase) in GE Capital financing receivables | 0 | 0 | 0 |
| Net cash from (payments for) principal businesses purchased | (447) | (1) | (2,722) |
| Capital contribution from GE to GE Capital | (4,000) | 0 | 0 [1] |
| All other investing activities | 3,675 | (640) | (9,439) |
| Cash from (used for) investing activities continuing operations | 4,056 | 3,138 | (11,715) |
| Cash from (used for) investing activities discontinued operations | (3,449) | (698) | 2,312 |
| Cash from (used for) investing activities | 607 | 2,439 | (9,403) |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (595) | (987) | 1,808 |
| Newly issued debt (maturities longer than 90 days) | 31 | 6,570 | 16,267 |
| Repayments and other reductions (maturities longer than 90 days) | (6,458) | (1,023) | (5,579) |
| Capital contribution from GE to GE Capital | 0 | 0 | 0 |
| Net dispositions (purchases) of GE shares for treasury | 29 | (17) | (2,550) |
| Dividends paid to shareholders | (352) | (4,179) | (8,355) |
| All other financing activities | (312) | 1,107 | 290 |
| Cash from (used for) financing activities continuing operations | (7,658) | 1,470 | 1,881 |
| Cash from (used for) financing activities discontinued operations | (368) | (4,462) | 3,534 |
| Cash from (used for) financing activities | (8,026) | (2,992) | 5,415 |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | (56) | (494) | 444 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (2,911) | 1,706 | 7,739 |
| Cash, cash equivalents and restricted cash at beginning of year | 17,617 | 18,822 | 18,822 |
| Cash, cash equivalents and restricted cash at end of year | 17,617 | 18,822 | 18,822 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 4 | 3,896 | 7,144 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 17,613 | 16,632 | 11,678 |
| Cash paid during the year for interest | (1,975) | (2,201) | (2,347) |
| Principal business dispositions | |||
| Proceeds from sale of businesses | 1,083 | 6,047 | 3,086 |
| Legal Entity | |||
| GE Capital | |||
| Net earnings (loss) | 123 | (1,672) | (6,643) |
| (Earnings) loss from discontinued operations | (192) | 1,670 | 312 |
| Depreciation and amortization of property, plant and equipment (Note 7) | 2,026 | 2,110 | 2,277 |
| Amortization of intangible assets (Note 8) | 57 | 53 | 65 |
| Goodwill impairments (Note 8) | 0 | 0 | 1,386 |
| (Earnings) loss from continuing operations retained by GE Capital | 0 | 0 | 0 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (50) | (288) | 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) | (15) | (18) | (23) |
| Provision (benefit) for income taxes (Note 15) | (582) | (374) | (6,302) |
| Cash recovered (paid) during the year for income taxes | (46) | (61) | 264 |
| Decrease (increase) in contract and other deferred assets | 0 | 0 | 0 |
| Decrease (increase) in GE current receivables | 0 | 0 | 0 |
| Decrease (increase) in inventories | 0 | 0 | 0 |
| Increase (decrease) in accounts payable | (44) | 2 | (75) |
| Increase (decrease) in GE progress collections | 0 | 0 | 0 |
| All other operating activities | 605 | 158 | 11,114 |
| Cash from (used for) operating activities continuing operations | 1,881 | 1,582 | 2,374 |
| Cash from (used for) operating activities discontinued operations | (1,917) | (415) | (968) |
| Cash from (used for) operating activities | (35) | 1,166 | 1,407 |
| Additions to property, plant and equipment | (3,830) | (4,569) | (3,680) |
| Dispositions of property, plant and equipment | 3,348 | 3,853 | 4,579 |
| Additions to internal-use software | (8) | (14) | (31) |
| Net decrease (increase) in GE Capital financing receivables | 3,389 | 9,986 | 2,897 |
| Net cash from (payments for) principal businesses purchased | 0 | 0 | 0 |
| Capital contribution from GE to GE Capital | 0 | 0 | 0 |
| All other investing activities | 2,617 | 482 | 3,013 |
| Cash from (used for) investing activities continuing operations | 9,453 | 11,777 | 8,242 |
| Cash from (used for) investing activities discontinued operations | 2,023 | 186 | (1,784) |
| Cash from (used for) investing activities | 11,476 | 11,964 | 6,458 |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (256) | (4,308) | 69 |
| Newly issued debt (maturities longer than 90 days) | 2,154 | 3,045 | 1,909 |
| Repayments and other reductions (maturities longer than 90 days) | (11,632) | (19,836) | (21,007) |
| Capital contribution from GE to GE Capital | 4,000 | 0 | 0 |
| Net dispositions (purchases) of GE shares for treasury | 0 | 0 | 0 |
| Dividends paid to shareholders | (455) | (371) | (4,311) |
| All other financing activities | (819) | (2,408) | (280) |
| Cash from (used for) financing activities continuing operations | (7,007) | (23,878) | (23,619) |
| Cash from (used for) financing activities discontinued operations | (1) | 0 | 1,909 |
| Cash from (used for) financing activities | (7,008) | (23,878) | (21,710) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | 6 | (134) | 447 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 4,439 | (10,882) | (13,399) |
| Cash, cash equivalents and restricted cash at beginning of year | 19,460 | 25,902 | 25,902 |
| Cash, cash equivalents and restricted cash at end of year | 19,460 | 25,902 | 25,902 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 633 | 528 | 757 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 18,826 | 14,492 | 25,145 |
| Cash paid during the year for interest | (2,632) | (2,883) | (2,793) |
| [1] Represents the adding together of all GE Industrial affiliates and the impact of GE Capital dividends on a one-line basis. See Note 1. | |||
| External Links | |
| GENERAL ELECTRIC CO (GE) Fiscal Year 2019 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
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| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |