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 EARNINGS (LOSS) | |||
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 | |
| Total revenues (Note 25) | $ 79,619 | 95,214 | 97,012 |
| Cost of goods and services | 60,421 | 66,911 | |
| Selling, general and administrative expenses | 12,621 | 13,949 | 14,643 |
| Research and development | 2,565 | 3,118 | 3,415 |
| Interest and other financial charges | 3,273 | 4,227 | 4,766 |
| Insurance losses and annuity benefits (Note 12) | 2,397 | 3,294 | 2,790 |
| Goodwill impairments (Note 8) | 1,717 | 1,486 | 22,136 |
| Non-operating benefit costs | 2,433 | 2,844 | 2,753 |
| Other costs and expenses | 384 | 458 | 414 |
| Total costs and expenses | 85,809 | 96,287 | 120,320 |
| Other income (Note 19) | 11,387 | 2,222 | 2,321 |
| Earnings (loss) from continuing operations before income taxes | 5,197 | 1,149 | (20,987) |
| Benefit (provision) for income taxes (Note 15) | 474 | (726) | (93) |
| Earnings (loss) from continuing operations | 5,672 | 423 | (21,080) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (125) | (5,335) | (1,363) |
| Net earnings (loss) | 5,546 | (4,912) | (22,443) |
| Less net earnings (loss) attributable to noncontrolling interests | (158) | 66 | (89) |
| Net earnings (loss) attributable to the Company | 5,704 | (4,979) | (22,355) |
| Preferred stock dividends | (474) | (460) | (447) |
| Net earnings (loss) attributable to GE common shareholders | 5,230 | (5,439) | (22,802) |
| Amounts attributable to GE common shareholders: | |||
| Earnings (loss) from continuing operations | 5,672 | 423 | (21,080) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | (158) | 7 | (90) |
| Earnings (loss) from continuing operations attributable to the Company | 5,829 | 416 | (20,991) |
| Preferred stock dividends | (474) | (460) | (447) |
| Earnings (loss) from continuing operations attributable to GE common shareholders | 5,355 | (44) | (21,438) |
| Earnings (loss) from discontinued operations, net of taxes | (125) | (5,335) | (1,363) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 60 | 1 |
| Net earnings (loss) attributable to GE common shareholders | 5,230 | (5,439) | (22,802) |
| Per-share amounts (Note 18) | |||
| Earnings (loss) from continuing operations | |||
| Diluted earnings (loss) per share (in dollars per share) | 0.59 | (0.01) | (2.47) |
| Basic earnings (loss) per share (in dollars per share) | 0.59 | (0.01) | (2.47) |
| Net earnings (loss) | |||
| Diluted earnings (loss) per share (in dollars per share) | 0.58 | (0.62) | (2.62) |
| Basic earnings (loss) per share (in dollars per share) | 0.58 | (0.62) | (2.62) |
| Dividends declared per common share (in dollars per share) | 0.04 | 0.04 | 0.37 |
| Legal Entity | |||
| GE Capital | |||
| Total revenues (Note 25) | 7,245 | 8,741 | 9,551 |
| Selling, general and administrative expenses | 823 | 931 | 1,341 |
| Research and development | 0 | 0 | 0 |
| Interest and other financial charges | 2,186 | 2,532 | 2,982 |
| Insurance losses and annuity benefits (Note 12) | 2,438 | 3,353 | 2,849 |
| Goodwill impairments (Note 8) | 839 | 0 | 0 |
| Non-operating benefit costs | 9 | 16 | 12 |
| Other costs and expenses | 469 | 480 | 558 |
| Total costs and expenses | 9,339 | 9,392 | 9,926 |
| Other income (Note 19) | 0 | 0 | 0 |
| Earnings (loss) from continuing operations before income taxes | (2,095) | (652) | (375) |
| Benefit (provision) for income taxes (Note 15) | 862 | 582 | 374 |
| Earnings (loss) from continuing operations | (1,232) | (69) | (1) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (90) | 192 | (1,670) |
| Net earnings (loss) | (1,322) | 123 | (1,672) |
| Less net earnings (loss) attributable to noncontrolling interests | 3 | 1 | 40 |
| Net earnings (loss) attributable to the Company | (1,325) | 122 | (1,712) |
| Preferred stock dividends | (474) | (460) | (447) |
| Net earnings (loss) attributable to GE common shareholders | (1,800) | (338) | (2,159) |
| Earnings (loss) from continuing operations | (1,232) | (69) | (1) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | 3 | 1 | 40 |
| Earnings (loss) from continuing operations attributable to the Company | (1,235) | (70) | (42) |
| Preferred stock dividends | (474) | (460) | (447) |
| Earnings (loss) from continuing operations attributable to GE common shareholders | (1,710) | (530) | (489) |
| Earnings (loss) from discontinued operations, net of taxes | (90) | 192 | (1,670) |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 0 | 0 |
| Net earnings (loss) attributable to GE common shareholders | (1,800) | (338) | (2,159) |
| Product and Service | |||
| Services | |||
| Sales | 0 | 0 | 0 |
| Cost of goods and services | 2,527 | 2,019 | 2,089 |
| GE Capital revenues from services | |||
| Total revenues (Note 25) | 7,188 | 8,662 | 9,430 |
| Goods | |||
| Sales | 57 | 79 | 121 |
| Cost of goods and services | 48 | 61 | 95 |
| Consolidated Entities | |||
| GE Industrial | |||
| Total revenues (Note 25) | 73,100 | 87,719 | 89,038 |
| Selling, general and administrative expenses | 12,073 | 13,404 | 13,851 |
| Research and development | 2,565 | 3,118 | 3,415 |
| Interest and other financial charges | 1,333 | 2,115 | 2,415 |
| Insurance losses and annuity benefits (Note 12) | 0 | 0 | 0 |
| Goodwill impairments (Note 8) | 877 | 1,486 | 22,136 |
| Non-operating benefit costs | 2,424 | 2,828 | 2,740 |
| Other costs and expenses | 0 | 0 | (51) |
| Total costs and expenses | 77,252 | 88,118 | 111,967 |
| Other income (Note 19) | 11,444 | 2,200 | 2,317 |
| Earnings (loss) from continuing operations before income taxes | 7,291 | 1,801 | (20,612) |
| Benefit (provision) for income taxes (Note 15) | (388) | (1,309) | (467) |
| Earnings (loss) from continuing operations | 6,904 | 492 | (21,079) |
| Earnings (loss) from discontinued operations, net of taxes (Note 2) | (35) | (5,527) | 307 |
| Net earnings (loss) | 6,868 | (5,035) | (20,772) |
| Less net earnings (loss) attributable to noncontrolling interests | (161) | 66 | (129) |
| Net earnings (loss) attributable to the Company | 7,029 | (5,101) | (20,643) |
| Preferred stock dividends | 0 | 0 | 0 |
| Net earnings (loss) attributable to GE common shareholders | 7,029 | (5,101) | (20,643) |
| Earnings (loss) from continuing operations | 6,904 | 492 | (21,079) |
| Less net earnings (loss) attributable to noncontrolling interests, continuing operations | (161) | 6 | (130) |
| Earnings (loss) from continuing operations attributable to the Company | 7,065 | 486 | (20,949) |
| Preferred stock dividends | 0 | 0 | 0 |
| Earnings (loss) from continuing operations attributable to GE common shareholders | 7,065 | 486 | (20,949) |
| Earnings (loss) from discontinued operations, net of taxes | (35) | (5,527) | 307 |
| Less net earnings (loss) attributable to noncontrolling interests, discontinued operations | 0 | 60 | 1 |
| Net earnings (loss) attributable to GE common shareholders | 7,029 | (5,101) | (20,643) |
| Services | |||
| Sales | 23,656 | 28,581 | 28,891 |
| Cost of goods and services | 15,951 | 19,051 | 19,869 |
| GE Capital revenues from services | |||
| Total revenues (Note 25) | 0 | 0 | 0 |
| Goods | |||
| Sales | 49,443 | 59,138 | 60,147 |
| Cost of goods and services | 42,030 | 46,115 | 47,591 |
| Product and Service | |||
| Goods | |||
| Sales | 49,464 | 58,949 | 60,148 |
| Cost of goods and services | 42,041 | 45,902 | 47,570 |
| Services | |||
| Sales | 23,558 | 28,538 | 28,792 |
| Cost of goods and services | 18,380 | 21,009 | 21,833 |
| GE Capital revenues from services | |||
| Total revenues (Note 25) | 6,597 | 7,728 | 8,072 |
| 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 |