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: 2020 | |||
STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 12, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows operating activities | |||
| Net earnings (loss) | $ 5,546 | (4,912) | (22,443) |
| (Earnings) loss from discontinued operations | 125 | 5,335 | 1,363 |
| Adjustments to reconcile net earnings (loss) to cash provided from operating activities: | |||
| Depreciation and amortization of property, plant and equipment (Note 7) | 4,636 | 4,026 | 4,419 |
| Amortization of intangible assets (Note 8) | 1,382 | 1,569 | 2,163 |
| Goodwill impairments (Note 8) | 1,717 | 1,486 | 22,136 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (12,526) | (53) | (1,522) |
| (Gains) losses on equity securities (Note 19) | 2,105 | (693) | (166) |
| Principal pension plans cost (Note 13) | 3,559 | 3,878 | 4,226 |
| Principal pension plans employer contributions (Note 13) | (2,806) | (298) | (6,283) |
| Other postretirement benefit plans (net) (Note 13) | (893) | (1,228) | (1,033) |
| Provision (benefit) for income taxes (Note 15) | (474) | 726 | 93 |
| Cash recovered (paid) during the year for income taxes (Note 15) | (1,441) | (1,950) | (1,404) |
| Changes in operating working capital: | |||
| Decrease (increase) in current receivables | (1,319) | (2,851) | (358) |
| Decrease (increase) in inventories, including deferred inventory costs | 1,105 | (1,581) | (573) |
| Decrease (increase) in current contract assets | 1,631 | 891 | 751 |
| Increase (decrease) in accounts payable and equipment project accruals | (575) | 2,674 | 666 |
| Increase (decrease) in progress collections and current deferred income | (216) | 1,531 | (563) |
| All other operating activities | 2,040 | 1,869 | 1,739 |
| Cash from (used for) operating activities continuing operations | 3,597 | 10,419 | 3,210 |
| Cash from (used for) operating activities discontinued operations | 0 | (1,647) | 1,768 |
| Cash from (used for) operating activities | 3,597 | 8,772 | 4,978 |
| Cash flows investing activities | |||
| Additions to property, plant and equipment | (3,252) | (5,813) | (6,627) |
| Dispositions of property, plant and equipment | 1,644 | 3,718 | 4,093 |
| Additions to internal-use software | (151) | (282) | (320) |
| Net decrease (increase) in GE Capital financing receivables | (20) | 1,117 | 1,796 |
| Net cash from (payments for) principal businesses purchased | (85) | (68) | (1) |
| Capital contribution from GE Industrial to GE Capital | 0 | 0 | 0 |
| Sales of retained ownership interests | 417 | 3,383 | 0 |
| Net (purchases) dispositions of GE Capital investment securities (Note 3) | (1,352) | (1,616) | 2,534 |
| All other investing activities | (1,019) | (301) | 8,995 |
| Cash from (used for) investing activities continuing operations | 16,778 | 10,684 | 18,925 |
| Cash from (used for) investing activities discontinued operations | (136) | (1,745) | (645) |
| Cash from (used for) investing activities | 16,642 | 8,939 | 18,280 |
| Cash flows financing activities | |||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (4,168) | 280 | (4,343) |
| Newly issued debt (maturities longer than 90 days) | 15,028 | 2,185 | 3,120 |
| Repayments and other reductions (maturities longer than 90 days) | (29,876) | (16,567) | (20,319) |
| Capital contribution from GE Industrial to GE Capital | 0 | 0 | 0 |
| Dividends paid to shareholders | (648) | (649) | (4,474) |
| All other financing activities | (188) | (1,013) | (1,328) |
| Cash from (used for) financing activities continuing operations | (19,853) | (15,764) | (27,345) |
| Cash from (used for) financing activities discontinued operations | 1 | (368) | (4,462) |
| Cash from (used for) financing activities | (19,852) | (16,133) | (31,806) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | 145 | (50) | (628) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 531 | 1,529 | (9,176) |
| Cash, cash equivalents and restricted cash at beginning of year | 37,077 | 35,548 | |
| Cash, cash equivalents and restricted cash at end of year | 37,608 | 37,077 | 35,548 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 524 | 638 | 4,424 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 37,085 | 36,439 | 31,124 |
| Supplemental disclosure of cash flows information | |||
| Cash paid during the year for interest | (2,976) | (4,101) | (4,508) |
| Disposal Group Classification | |||
| Sale of discontinued operations | |||
| Legal Entity | |||
| GE Capital | |||
| Proceeds from sale of businesses | 0 | 0 | 29 |
| Proceeds from sale of businesses | 0 | 5,864 | 29 |
| Principal business dispositions | |||
| Proceeds from sale of businesses | 20,596 | 4,683 | 8,425 |
| Proceeds from sale of businesses | 34 | 3,938 | 2,011 |
| Consolidated Entities | |||
| GE Industrial | |||
| Disposal Group Classification | |||
| Sale of discontinued operations | |||
| Proceeds from sale of businesses | 0 | 5,864 | 0 |
| Principal business dispositions | |||
| Proceeds from sale of businesses | 20,394 | 1,083 | 6,047 |
| Net earnings (loss) | 6,868 | (5,035) | (20,772) |
| (Earnings) loss from discontinued operations | 35 | 5,527 | (307) |
| Depreciation and amortization of property, plant and equipment (Note 7) | 2,130 | 2,001 | 2,290 |
| Amortization of intangible assets (Note 8) | 1,325 | 1,512 | 2,109 |
| Goodwill impairments (Note 8) | 877 | 1,486 | 22,136 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (12,468) | (3) | (1,234) |
| (Gains) losses on equity securities (Note 19) | 2,080 | (688) | (185) |
| Principal pension plans cost (Note 13) | 3,559 | 3,878 | 4,226 |
| Principal pension plans employer contributions (Note 13) | (2,806) | (298) | (6,283) |
| Other postretirement benefit plans (net) (Note 13) | (846) | (1,213) | (1,015) |
| Provision (benefit) for income taxes (Note 15) | 388 | 1,309 | 467 |
| Cash recovered (paid) during the year for income taxes (Note 15) | (2,447) | (1,904) | (1,343) |
| Decrease (increase) in current receivables | (558) | (3,904) | (966) |
| Decrease (increase) in inventories, including deferred inventory costs | 1,188 | (1,349) | (581) |
| Decrease (increase) in current contract assets | 1,631 | 891 | 751 |
| Increase (decrease) in accounts payable and equipment project accruals | (2,556) | 381 | 716 |
| Increase (decrease) in progress collections and current deferred income | (247) | 1,476 | (424) |
| All other operating activities | 591 | 548 | 1,117 |
| Cash from (used for) operating activities continuing operations | (1,254) | 4,614 | 701 |
| Cash from (used for) operating activities discontinued operations | 32 | (49) | 2,051 |
| Cash from (used for) operating activities | (1,223) | 4,565 | 2,752 |
| Additions to property, plant and equipment | (1,579) | (2,216) | (2,234) |
| Dispositions of property, plant and equipment | 202 | 371 | 271 |
| Additions to internal-use software | (143) | (274) | (306) |
| Net decrease (increase) in GE Capital financing receivables | 0 | 0 | 0 |
| Net cash from (payments for) principal businesses purchased | (85) | (447) | (1) |
| Capital contribution from GE Industrial to GE Capital | (2,000) | (4,000) | 0 |
| Sales of retained ownership interests | 417 | 3,383 | 0 |
| Net (purchases) dispositions of GE Capital investment securities (Note 3) | 0 | 0 | 0 |
| All other investing activities | 523 | 292 | (640) |
| Cash from (used for) investing activities continuing operations | 17,729 | 4,056 | 3,138 |
| Cash from (used for) investing activities discontinued operations | (36) | (3,449) | (698) |
| Cash from (used for) investing activities | 17,693 | 607 | 2,439 |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (4,234) | (595) | (987) |
| Newly issued debt (maturities longer than 90 days) | 7,462 | 31 | 6,570 |
| Repayments and other reductions (maturities longer than 90 days) | (13,673) | (6,458) | (1,023) |
| Capital contribution from GE Industrial to GE Capital | 0 | 0 | 0 |
| Dividends paid to shareholders | (354) | (352) | (4,179) |
| All other financing activities | (141) | (283) | 1,090 |
| Cash from (used for) financing activities continuing operations | (10,941) | (7,658) | 1,470 |
| Cash from (used for) financing activities discontinued operations | 1 | (368) | (4,462) |
| Cash from (used for) financing activities | (10,940) | (8,026) | (2,992) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | 61 | (56) | (494) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 5,591 | (2,911) | 1,706 |
| Cash, cash equivalents and restricted cash at beginning of year | 23,209 | 20,528 | 20,528 |
| Cash, cash equivalents and restricted cash at end of year | 23,209 | 20,528 | 20,528 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 0 | 4 | 3,896 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 23,209 | 17,613 | 16,632 |
| Cash paid during the year for interest | (1,276) | (1,975) | (2,201) |
| Legal Entity | |||
| GE Capital | |||
| Net earnings (loss) | (1,322) | 123 | (1,672) |
| (Earnings) loss from discontinued operations | 90 | (192) | 1,670 |
| Depreciation and amortization of property, plant and equipment (Note 7) | 2,534 | 2,026 | 2,110 |
| Amortization of intangible assets (Note 8) | 57 | 57 | 53 |
| Goodwill impairments (Note 8) | 839 | 0 | 0 |
| (Gains) losses on purchases and sales of business interests (Note 19) | (58) | (50) | (288) |
| (Gains) losses on equity securities (Note 19) | 25 | (6) | 21 |
| 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) | (47) | (15) | (18) |
| Provision (benefit) for income taxes (Note 15) | (862) | (582) | (374) |
| Cash recovered (paid) during the year for income taxes (Note 15) | 1,007 | (46) | (61) |
| Decrease (increase) in current receivables | 0 | 0 | 0 |
| Decrease (increase) in inventories, including deferred inventory costs | 0 | 0 | 0 |
| Decrease (increase) in current contract assets | 0 | 0 | 0 |
| Increase (decrease) in accounts payable and equipment project accruals | (29) | (44) | 2 |
| Increase (decrease) in progress collections and current deferred income | 0 | 0 | 0 |
| All other operating activities | 1,261 | 610 | 138 |
| Cash from (used for) operating activities continuing operations | 3,495 | 1,881 | 1,582 |
| Cash from (used for) operating activities discontinued operations | (32) | (1,917) | (415) |
| Cash from (used for) operating activities | 3,463 | (35) | 1,166 |
| Additions to property, plant and equipment | (1,765) | (3,830) | (4,569) |
| Dispositions of property, plant and equipment | 1,450 | 3,348 | 3,853 |
| Additions to internal-use software | (7) | (8) | (14) |
| Net decrease (increase) in GE Capital financing receivables | 199 | 3,389 | 9,986 |
| Net cash from (payments for) principal businesses purchased | 0 | 0 | 0 |
| Capital contribution from GE Industrial to GE Capital | 0 | 0 | 0 |
| Sales of retained ownership interests | 0 | 0 | 0 |
| Net (purchases) dispositions of GE Capital investment securities (Note 3) | (1,352) | (1,616) | 2,534 |
| All other investing activities | 9,673 | 4,233 | (2,052) |
| Cash from (used for) investing activities continuing operations | 8,231 | 9,453 | 11,777 |
| Cash from (used for) investing activities discontinued operations | (100) | 2,023 | 186 |
| Cash from (used for) investing activities | 8,131 | 11,476 | 11,964 |
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (525) | (256) | (4,308) |
| Newly issued debt (maturities longer than 90 days) | 7,566 | 2,154 | 3,045 |
| Repayments and other reductions (maturities longer than 90 days) | (25,252) | (11,632) | (19,836) |
| Capital contribution from GE Industrial to GE Capital | 2,000 | 4,000 | 0 |
| Dividends paid to shareholders | (469) | (455) | (371) |
| All other financing activities | (58) | (819) | (2,408) |
| Cash from (used for) financing activities continuing operations | (16,738) | (7,007) | (23,878) |
| Cash from (used for) financing activities discontinued operations | 0 | (1) | 0 |
| Cash from (used for) financing activities | (16,738) | (7,008) | (23,878) |
| Effect of currency exchange rate changes on cash, cash equivalents and restricted cash | 84 | 6 | (134) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (5,060) | 4,439 | (10,882) |
| Cash, cash equivalents and restricted cash at beginning of year | 14,400 | 15,020 | 15,020 |
| Cash, cash equivalents and restricted cash at end of year | 14,400 | 15,020 | 15,020 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of year | 524 | 633 | 528 |
| Cash, cash equivalents and restricted cash of continuing operations at end of year | 13,876 | 18,826 | 14,492 |
| Cash paid during the year for interest | (1,957) | (2,632) | (2,883) |
| External Links | |
| GENERAL ELECTRIC CO (GE) Fiscal Year 2020 | |
| 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 |