spreadsheet

Income Statement

INCOME STATEMENT - GENERAL ELECTRIC CORPORATION
For the years ended December 31 (In millions; per-share amounts in dollars)						2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016
REVENUES AND OTHER INCOME
Sales of goods						$ 49,963	$ 55,005	$ 59,837	$ 55,181	$ 60,374	$ 67,637	$ 64,211	$ 60,811	$ 66,875	$ 72,991
Sales of services						$ 22,391	$ 29,700	$ 32,752	$ 36,329	$ 39,422	$ 44,377	$ 39,246	$ 39,625	$ 27,648	$ 27,158
Other income						$ 1,297	$ 1,064	$ 1,683	$ 2,154	$ 3,371	$ 1,965	$ 1,179	$ 1,151	$ 5,064	$ 2,563
GECC earnings from continuing operations						$ - 0	$ - 0	$ - 0	$ - 0	$ 12,417	$ 7,774	$ 1,590	$ - 0	$ - 0	$ - 0
GECC revenues from services						$ 60,536	$ 48,712	$ 55,430	$ 57,904	$ - 0	$ - 0	$ - 0	$ 47,980	$ 47,701	$ 44,647
Total revenues and other income						$ 134,187	$ 134,481	$ 149,702	$ 151,568	$ 115,584	$ 121,753	$ 106,226	$ 149,567	$ 147,288	$ 147,359
COSTS AND EXPENSES
Cost of goods sold						$ 37,189	$ 42,645	$ 46,169	$ 43,279	$ 47,103	$ 53,395	$ 49,886	$ 45,998	$ 51,455	$ 56,785
Cost of services sold						$ 14,017	$ 19,114	$ 20,645	$ 23,494	$ 26,382	$ 29,878	$ 25,878	$ 25,715	$ 16,823	$ 17,525
Interest and other financial charges						$ 10,432	$ 11,656	$ 15,187	$ 18,879	$ 1,993	$ 2,153	$ 1,478	$ 15,537	$ 14,528	$ 12,508
Investment contracts, ins losses and ins annuity benefits						$ 16,369	$ 3,583	$ 5,474	$ 3,213	$ - 0	$ - 0	$ - 0	$ 3,012	$ 2,912	$ 2,857
Provision for losses on financing receivables						$ 3,752	$ 3,888	$ 3,841	$ 3,062	$ - 0	$ - 0	$ - 0	$ 7,085	$ 3,951	$ 3,891
Other costs and expenses						$ 32,524	$ 33,096	$ 35,271	$ 36,353	$ 14,148	$ 14,401	$ 14,842	$ 38,033	$ 37,362	$ 36,387
Total costs and expenses						$ 114,283	$ 113,982	$ 126,587	$ 128,280	$ 89,626	$ 99,827	$ 92,084	$ 135,380	$ 127,031	$ 129,953
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES						$ 19,904	$ 20,499	$ 23,115	$ 23,288	$ 25,958	$ 21,926	$ 14,142	$ 14,187	$ 20,257	$ 17,406
Benefit (provision) for income taxes						$ (4,315)	$ (3,486)	$ (3,854)	$ (3,944)	$ (2,794)	$ (3,427)	$ (2,739)	$ (1,039)	$ (5,738)	$ (2,504)
EARNINGS FROM CONTINUING OPERATIONS						$ 15,589	$ 17,013	$ 19,261	$ 19,344	$ 23,164	$ 18,499	$ 11,403	$ 13,148	$ 14,519	$ 14,902
Earnings (loss) from discontinued operations, net of taxes						$ - 0	$ 534	$ (1,922)	$ 1,398.0	$ (249.0)	$ (679)	$ (193)	$ (969.0)	$ (76.0)	$ (1,038.0)
NET EARNINGS						$ 15,589	$ 17,547	$ 17,339	$ 20,742	$ 22,915	$ 17,820	$ 11,210	$ 12,179	$ 14,443	$ 13,864
Less net earnings attributable to noncontrolling interests						$ - 0	$ 728	$ 986	$ - 0	707	$ 410	$ 185	535	292	223
Less Cum Affect of Acctg Change						$ (587)
NET EARNINGS ATTRIBUTABLE TO THE COMPANY						$ 15,002	$ 16,819	$ 16,353	$ 20,742	$ 22,208	$ 17,410	$ 11,025	$ 11,644	$ 14,151	$ 13,641
Preferred stock dividends declared						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ 75	$ 300	$ 300	$ 1,031	$ - 0
NET EARNINGS ATTRIBUTABLE TO GE COMMON SHAREOWNERS						$ 15,002	$ 16,819	$ 16,353	$ 20,742	$ 22,208	$ 17,335	$ 10,725	$ 11,344	$ 13,120	$ 13,641
AMOUNTS ATTRIBUTABLE TO THE COMPANY
Earnings from continuing operations						$ 15,002	$ 17,013	$ 19,261	$ 20,742	$ 22,457	$ 18,089	$ 11,218	$ 12,613	$14,227	$14,679
Earnings (loss) from discontinued operations, net of taxes						$ - 0	$ 534	$ (1,922)	$ - 0	$ (249)	$ (679)	$ (193)	$ (969)	$ (76)	$ (1,038)
NET EARNINGS ATTRIBUTABLE TO THE COMPANY						$15,002	$17,547	$17,339	$20,742	$22,208	$17,410	$11,025	$11,644	$14,151	$13,641
PER-SHARE AMOUNTS
Earnings from continuing operations
Diluted earnings per share						$ 1.55	$ 1.56	$ 1.72	$ 1.86	$ 2.20	$ 1.78	$ 1.03	$ 1.15	$ 1.24	$ 1.39
Basic earnings per share						$ 1.56	$ 1.57	$ 1.73	$ 1.87	$ 2.21	$ 1.79	$ 1.03	$ 1.15	$ 1.24	$ 1.39
Net earnings
Diluted earnings per share						$ 1.49	$ 1.61	$ 1.54	$ 2.00	$ 2.17	$ 1.72	$ 1.01	$ 1.06	$ 1.23	$ 1.29
Basic earnings per share						$ 1.50	$ 1.62	$ 1.55	$ 2.00	$ 2.18	$ 1.72	$ 1.01	$ 1.06	$ 1.23	$ 1.29
DIVIDENDS DECLARED PER SHARE						$ 0.77	$ 0.82	$ 0.91	$ 1.03	$ 1.15	$ 1.24	$ 0.61	$ 0.46	$ 0.61	$ 0.70

Balance Sheet

STATEMENT of FINANCIAL CONDITION - GENERAL ELECTRIC CORPORATION
At December 31 (In millions, except share amounts)
						2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016
ASSETS
Current Assets
Cash and equivalents						$ - 0	$ 12,152	$ 9,011	$ 14,275	$ 15,731	$ 48,187	$ 72,260	$ 78,958	$ 84,501	$ 77,356
Investment securities						$ - 0	$ 56,923	$ 53,144	$ 47,826	$ 45,276	$ 41,446	$ 51,941	$ 43,938	$ 47,374	$ 48,510
Current receivables						$ - 0	$ 14,233	$ 14,851	$ 13,954	$ 22,259	$ 21,411	$ 16,458	$ 18,621	$ 20,478	$ 21,500
Inventories						$ - 0	$ 9,778	$ 10,474	$ 11,401	$ 12,897	$ 13,674	$ 11,987	$ 11,526	$ 13,792	$ 15,374
Financing receivables—net						$ - 0	$ 282,699	$ 287,639	$ 334,205	$ 376,123	$ 365,168	$ 329,232	$ 310,055	$ 279,918	$ 258,028
Other GECC receivables						$ - 0	$ 11,340	$ 14,767	$ 17,067	$ 16,514	$ 13,439	$ 14,177	$ 8,951	$ 7,561	$ 7,961
Total Current Assets						$ - 0	$ 387,125	$ 389,886	$ 438,728	$ 488,800	$ 503,325	$ 496,055	$ 472,049	$ 453,624	$ 428,729
Non-Current Assets
Property, plant and equipment—net						$ - 0	$ 63,103	$ 67,528	$ 74,966.0	$ 77,888	$ 78,530	$ 69,212	$ 66,214	$ 65,739	$ 69,743
Investment in GECC						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0
Goodwill						$ - 0	$ 78,456	$ 81,726	$ 86,433.0	$ 81,116	$ 81,759	$ 65,574	$ 64,473	$ 72,625	$ 73,447
Other intangible assets—net						$ - 0	$ - 0	$ - 0	$ - 0	$ 16,142	$ 14,977	$ 11,929	$ 9,973	$ 12,068	$ 11,987
All other assets						$ - 0	$ 89,557	$ 87,446	$ 97,112.0	$ 122,848	$ 106,899	$ 103,417	$ 96,342	$ 111,701	$ 100,076
Assets of businesses held for sale						$ - 0	$ - 0	$ - 0		$ - 0	$ 10,556	$ 34,111	$ 36,887	$ 711	$ 211
Assets of discontinued operations						$ - 0	$ 132,266	$ 46,756	$ - 0	$ 8,889	$ 1,723	$ 1,520	$ 5,278	$ 1,721	$ 1,135
Total Non-Current Assets (a) $685,328						$ - 0	$ 363,382	$ 283,456	$ 258,511	$ 306,883	$ 294,444	$ 285,763	$ 279,167	$ 264,565	$ 256,599
TOTAL ASSETS						$ - 0	$ 750,507	$ 673,342	$ 697,239	$ 795,683	$ 797,769	$ 781,818	$ 751,216	$ 718,189	$ 685,328
LIABILITIES AND EQUITY
Liabilities
Short-term borrowings						$ - 0	$ 157,195	$ 158,156	$ 172,153	$ 195,100	$ 193,695	$ 133,054	$ 117,959	$ 137,611	$ 101,392
Accounts payable, principally trade accounts						$ - 0	$ 19,137	$ 21,273	$ 21,697	$ 21,338	$ 20,819	$ 19,703	$ 14,657	$ 16,400	$ 15,675
Progress collections and price adjustments accrued						$ - 0	$ 3,937	$ 4,456	$ 5,248	$ 9,885	$ 12,536	$ 12,192	$ 11,142	$ 11,349	$ 10,877
Dividends payable						$ - 0	$ 2,329	$ 2,623	$ 2,878	$ 3,100	$ 3,340	$ 1,141	$ 1,563	$ 1,797	$ 1,980
Other GE current liabilities						$ - 0	$ 17,539	$ 18,419	$ 18,538	$ 15,816	$ 18,220	$ 13,386	$ 11,396	$ 14,796	$ 14,895
Non-recourse borrowings of consolidated securitization entities						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ 30,060	$ 29,258	$ 30,123
Bank deposits						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ 38,923	$ 37,298	$ 43,115	$ 46,461
Long-term borrowings						$ - 0	$ 207,871	$ 212,281	$ 260,804	$ 319,013	$ 330,067	$ 338,215	$ 293,323	$ 243,459	$ 236,084
Investment contracts, insurance liabilities and insurance annuity benefits						$ - 0	$ 48,076	$ 45,432	$ 34,499	$ 34,068	$ 34,032	$ 31,641	$ 29,582	$ 29,774	$ 28,268
All other liabilities						$ - 0	$ 42,779	$ 40,632	$ 46,884	$ 59,316	$ 64,796	$ 58,861	$ 58,844	$ 70,653	$ 68,676
Deferred income taxes						$ - 0	$ 15,285	$ 16,330	$ 14,171	$ 12,490	$ 4,584	$ 2,173	$ 2,840	$ (131)	$ (75)
Liabilities of businesses held for sale						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ 636	$ 6,092	$ 16,047	$ 345	$ 157
Liabilities of discontinued operations						$ - 0	$ 112,935	$ 36,332	$ 475	$ 1,994	$ 1,432	$ 1,301	$ 2,307	$ 1,629	$ 2,345
Total liabilities						$ - 0	$ 627,083	$ 555,934	$ 577,347	$ 672,120	$ 684,157	$ 656,682	$ 627,018	$ 600,055	$ 556,858
Equity
GECC preferred stock						$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0	$ - 0
Common stock						$ - 0	$ 669	$ 669	$ 669	$ 669	$ 702	$ 702	$ 702	$ 702	$ 702
Accumulated other comprehensive income attributable to GE:
Investment securities						$ - 0	$ 2,268	$ 1,831	$ 1,608	$ 124	$ (3,094)	$ (435)	$ (636)	$ (30)	$ 677
Currency translation adjustments						$ - 0	$ 6,850	$ 2,532	$ 6,181	$ 10,708	$ (299)	$ 3,836	$ (86)	$ 133	$ 412
Cash flow hedges						$ - 0	$ (1,223)	$ (822)	$ (129)	$ (668)	$ (3,332)	$ (1,734)	$ (1,280)	$ (1,176)	$ (722)
Benefit plans						$ - 0	$ (657)	$ (874)	$ (4,406)	$ (1,840)	$ (15,128)	$ (16,932)	$ (15,853)	$ (22,901)	$ (20,597)
Other capital						$ - 0	$ 24,265	$ 25,227	$ 25,486	$ 26,100	$ 40,390	$ 37,729	$ 36,890	$ 33,693	$ 33,070
Retained earnings						$ - 0	$ 91,411	$ 98,117	$ 107,798	$ 117,362	$ 122,123	$ 126,363	$ 131,137	$ 137,786	$ 144,055
Less common stock held in treasury						$ - 0	$ (12,762)	$ (17,326)	$ (24,893)	$ (36,896)	$ (36,697)	$ (32,238)	$ (31,938)	$ (31,769)	$ (34,571)
Total GE shareowners’ equity						$ - 0	$ 110,821	$ 109,354	$ 112,314	$ 115,559	$ 104,665	$ 117,291	$ 118,936	$ 116,438	$ 123,026
Noncontrolling interests						$ - 0	$ 12,603	$ 8,054	$ 7,578	$ 8,004	$ 8,947	$ 7,845	$ 5,262	$ 1,696	$ 5,445
Total equity						$ - 0	$ 123,424	$ 117,408	$ 119,892	$ 123,563	$ 113,612	$ 125,136	$ 124,198	$ 118,134	$ 128,471
TOTAL LIABILITIES AND EQUITY						$ - 0	$ 750,507	$ 673,342	$ 697,239	$ 795,683	$ 797,769	$ 781,818	$ 751,216	$ 718,189	$ 685,329

RATIOS

				2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016		AVERAGE	ST DEV
LIQUIDITY RATIOS:
	CURRENT RATIO:			1.93	1.90	1.99	1.99	2.02	2.76	3.01	2.49	2.96
	QUICK RATIO (ACID TEST):			1.89	1.85	1.94	1.94	1.97	2.22	2.06	1.73	1.87
ASSET MANAGEMENT:
	INVENTORY TURNOVER:			13.75	14.29	13.29	8.96	8.90	8.86	12.98	10.68	9.58
	DAYS SALES OUTSTANDING:			38.71	40.31	34.02	53.60	67.61	49.34	63.98	49.97	53.28
	TOTAL ASSET TURNOVER:			0.35	0.34	0.34	0.31	0.23	0.25	0.23	0.33	0.34
DEBT MANAGEMENT:
	DEBT/ASSETS RATIO:			0.49	0.55	0.62	0.65	0.66	0.60	0.55	0.53	0.49
	DEBT/EQUITY RATIO:			3.29	3.39	3.85	4.45	5.00	4.02	3.46	3.27	2.74
	TIMES INTEREST EARNED:			2.91	2.76	2.52	2.23	14.02	11.18	10.57	1.91	2.39
PROFITABILITY RATIOS:
	NET PROFIT MARGIN:			11.18%	12.51%	10.92%	13.68%	19.21%	14.30%	10.38%	7.79%	9.61%
	RETURN ON ASSETS:			2.00%	2.50%	2.35%	2.61%	2.78%	2.23%	1.47%	1.62%	2.06%
	RETURN ON EQUITY:			18.91%	20.65%	19.57%	25.56%	25.78%	18.36%	11.04%	10.91%	12.84%
DUPONT METHOD RATIOS:
	RETURN ON ASSETS:			3.88%	4.31%	3.73%	4.24%	4.41%	3.51%	2.34%	2.57%	3.30%
	EQUITY MULTIPLIER:			9.46	8.27	8.34	9.81	9.26	8.24	7.52	6.73	6.22
	RETURN ON EQUITY:			36.67%	35.66%	31.10%	41.62%	40.87%	28.94%	17.56%	17.27%	20.53%

Analysis

Ratio Analysis General Electric
			2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016			AVERAGE	ST DEV
Current Ratio			1.9343000045
Quick Ratio			1.8854434712
Inventory Turnover Ratio			13.7534260585
Days Sales Outstanding			38.6303269607
Total Assets Turnover Ratio			0.3473839199
Total Debt to Total Assets			0.4864258428
Times Interest Earned			1.7586650652
EBITDA Coverage Ratio
Profit Margin on Sales			12.507%
Return on Total Assets			2.24%
Return on Investor's Capital
Return on Common Equity			0.1508186858
Basic Earning Power Ratio			0.027313536
Book Value per Share			$ 7.40
Equity Multiplier			9.462001059
EVA			7283.74
Observation

Return on Equity 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.15081868580514848 EVA 2004 2005 2006 2007 2008 2009 2010 2011 2012 7283.74

Sheet1