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 EARNINGS (LOSS) | |||
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 | |
| GE Capital revenues from services | $ 7,728 | 8,072 | 7,337 |
| Total revenues (Note 26) | 95,214 | 97,012 | 99,279 |
| Cost of goods and services | 70,029 | 72,818 | |
| Selling, general and administrative expenses | 13,949 | 14,643 | 14,257 |
| Interest and other financial charges | 4,227 | 4,766 | 4,655 |
| Insurance losses and annuity benefits (Note 12) | 3,294 | 2,790 | 12,168 |
| Goodwill impairments (Note 8) | 1,486 | 22,136 | 2,550 |
| Non-operating benefit costs | 2,844 | 2,753 | 2,423 |
| Other costs and expenses | 458 | 414 | 1,060 |
| Total costs and expenses | 96,287 | 120,320 | 112,707 |
| Other income (Note 19) | 2,222 | 2,321 | 2,083 |
| GE Capital earnings (loss) from continuing operations | 0 | 0 | 0 |
| Earnings (loss) from continuing operations before income taxes | 1,149 | (20,987) | (11,345) |
| Benefit (provision) for income taxes (Note 15) | (726) | (93) | 2,808 |
| Earnings (loss) from continuing operations | 423 | (21,080) | (8,536) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (5,335) | (1,363) | (312) |
| Net earnings (loss) | (4,912) | (22,443) | (8,849) |
| Less net earnings (loss) attributable to noncontrolling interests | 66 | (89) | (365) |
| Net earnings (loss) attributable to the Company | (4,979) | (22,355) | (8,484) |
| Preferred stock dividends | (460) | (447) | (436) |
| Net earnings (loss) attributable to GE common shareholders | (5,439) | (22,802) | (8,920) |
| Amounts attributable to GE common shareholders: | |||
| Earnings (loss) from continuing operations | 423 | (21,080) | (8,536) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | 7 | (90) | (283) |
| Earnings (loss) from continuing operations attributable to the Company | 416 | (20,991) | (8,253) |
| Preferred stock dividends | (460) | (447) | (436) |
| Earnings (loss) from continuing operations attributable to GE common shareholders | (44) | (21,438) | (8,689) |
| Earnings (loss) from discontinued operations, net of taxes | (5,335) | (1,363) | (312) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 60 | 1 | (81) |
| Net earnings (loss) attributable to GE common shareholders | (5,439) | (22,802) | (8,920) |
| Per-share amounts (Note 18) | |||
| Earnings (loss) from continuing operations | |||
| Diluted earnings (loss) per share (in dollars per share) | (0.01) | (2.47) | (1.00) |
| Basic earnings (loss) per share (in dollars per share) | (0.01) | (2.47) | (1.00) |
| Net earnings (loss) | |||
| Diluted earnings (loss) per share (in dollars per share) | (0.62) | (2.62) | (1.03) |
| Basic earnings (loss) per share (in dollars per share) | (0.62) | (2.62) | (1.03) |
| Dividends declared per common share (in dollars per share) | 0.04 | 0.37 | 0.84 |
| Legal Entity | |||
| GE Capital | |||
| Product and Service | |||
| Goods | |||
| Sales | 79 | 121 | 130 |
| Cost of goods and services | 61 | 95 | 102 |
| Services | |||
| Sales | 0 | 0 | 0 |
| Cost of goods and services | 2,019 | 2,089 | 2,196 |
| GE Capital revenues from services | 8,662 | 9,430 | 8,940 |
| Total revenues (Note 26) | 8,741 | 9,551 | 9,070 |
| Selling, general and administrative expenses | 931 | 1,341 | 1,662 |
| Interest and other financial charges | 2,532 | 2,982 | 3,145 |
| Insurance losses and annuity benefits (Note 12) | 3,353 | 2,849 | 12,213 |
| Goodwill impairments (Note 8) | 0 | 0 | 1,386 |
| Non-operating benefit costs | 16 | 12 | 14 |
| Other costs and expenses | 480 | 558 | 986 |
| Total costs and expenses | 9,392 | 9,926 | 21,703 |
| Other income (Note 19) | 0 | 0 | 0 |
| GE Capital earnings (loss) from continuing operations | 0 | 0 | 0 |
| Earnings (loss) from continuing operations before income taxes | (652) | (375) | (12,633) |
| Benefit (provision) for income taxes (Note 15) | 582 | 374 | 6,302 |
| Earnings (loss) from continuing operations | (69) | (1) | (6,331) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | 192 | (1,670) | (312) |
| Net earnings (loss) | 123 | (1,672) | (6,643) |
| Less net earnings (loss) attributable to noncontrolling interests | 1 | 40 | 4 |
| Net earnings (loss) attributable to the Company | 122 | (1,712) | (6,647) |
| Preferred stock dividends | (460) | (447) | (436) |
| Net earnings (loss) attributable to GE common shareholders | (338) | (2,159) | (7,083) |
| Earnings (loss) from continuing operations | (69) | (1) | (6,331) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | 1 | 40 | (3) |
| Earnings (loss) from continuing operations attributable to the Company | (70) | (42) | (6,328) |
| Preferred stock dividends | (460) | (447) | (436) |
| Earnings (loss) from continuing operations attributable to GE common shareholders | (530) | (489) | (6,765) |
| Earnings (loss) from discontinued operations, net of taxes | 192 | (1,670) | (312) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 0 | 6 |
| Net earnings (loss) attributable to GE common shareholders | (338) | (2,159) | (7,083) |
| Consolidated Entities | |||
| GE | |||
| GE Capital revenues from services | 0 | 0 | 0 |
| Total revenues (Note 26) | 87,719 | 89,038 | 92,229 |
| Selling, general and administrative expenses | 13,404 | 13,851 | 13,094 |
| Interest and other financial charges | 2,115 | 2,415 | 2,538 |
| Insurance losses and annuity benefits (Note 12) | 0 | 0 | 0 |
| Goodwill impairments (Note 8) | 1,486 | 22,136 | 1,165 |
| Non-operating benefit costs | 2,828 | 2,740 | 2,409 |
| Other costs and expenses | 0 [1] | (51) | (22) |
| Total costs and expenses | 88,118 | 111,967 | 92,834 |
| Other income (Note 19) | 2,200 | 2,317 | 1,893 |
| GE Capital earnings (loss) from continuing operations | (530) | (489) | (6,765) |
| Earnings (loss) from continuing operations before income taxes | 1,271 | (21,101) | (5,476) |
| Benefit (provision) for income taxes (Note 15) | (1,309) | (467) | (3,493) |
| Earnings (loss) from continuing operations | (38) | (21,568) | (8,970) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (5,335) | (1,363) | (319) |
| Net earnings (loss) | (5,373) | (22,931) | (9,288) |
| Less net earnings (loss) attributable to noncontrolling interests | 66 | (129) | (368) |
| Net earnings (loss) attributable to the Company | (5,439) | (22,802) | (8,920) |
| Preferred stock dividends | 0 | 0 | 0 |
| Net earnings (loss) attributable to GE common shareholders | (5,439) | (22,802) | (8,920) |
| Earnings (loss) from continuing operations | (38) | (21,568) | (8,970) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | 6 | (130) | (280) |
| Earnings (loss) from continuing operations attributable to the Company | (44) | (21,438) | (8,689) |
| Preferred stock dividends | 0 | 0 | 0 |
| Earnings (loss) from continuing operations attributable to GE common shareholders | (44) | (21,438) | (8,689) |
| Earnings (loss) from discontinued operations, net of taxes | (5,335) | (1,363) | (319) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 60 | 1 | (88) |
| Net earnings (loss) attributable to GE common shareholders | (5,439) | (22,802) | (8,920) |
| Goods | |||
| Sales | 59,138 | 60,147 | 62,786 |
| Cost of goods and services | 48,620 | 50,265 | 52,588 |
| Services | |||
| Sales | 28,581 | 28,891 | 29,443 |
| Cost of goods and services | 19,665 | 20,611 | 21,062 |
| Product and Service | |||
| Goods | |||
| Sales | 58,949 | 60,148 | 62,709 |
| Cost of goods and services | 48,406 | 50,244 | 52,483 |
| Services | |||
| Sales | 28,538 | 28,792 | 29,233 |
| Cost of goods and services | 21,622 | 22,574 | 23,110 |
| [1] Represents the adding together of all GE Industrial affiliates and GE Capital continuing operations 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 |
| 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 |