STATEMENT OF FINANCIAL POSITION December 31 (In millions) Cash, cash equivalents and restricted cash Investment securities...

Transcribed Image Text:

STATEMENT OF FINANCIAL POSITION December 31 (In millions) Cash, cash equivalents and restricted cash Investment securities (Note 3) Current receivables (Note 4) Inventories, including deferred inventory costs (Note 5) Current contract assets (Note 8) All other current assets (Note 9) Assets of businesses held for sale (Note 2) Current assets Investment securities (Note 3) Property, plant and equipment - net (Note 6) Goodwill (Note 7) Other intangible assets - net (Note 7) Contract and other deferred assets (Note 8) All other assets (Note 9) Deferred income taxes (Note 15) Assets of discontinued operations (Note 2) Total assets Short-term borrowings (Note 10) Accounts payable and equipment project payables (Note 11) Progress collections and deferred income All other current liabilities (Note 14) Liabilities of businesses held for sale (Note 2) Current liabilities Deferred income Long-term borrowings (Note 10) Insurance liabilities and annuity benefits (Note 12) Non-current compensation and benefits All other liabilities (Note 14) Liabilities of discontinued operations (Note 2) Total liabilities Preferred stock (Note 16) Common stock (Note 16) Accumulated other comprehensive income (loss) - net attributable to GE Other capital Retained earnings Less common stock held in treasury Total GE shareholders' equity Noncontrolling interests (Note 16) Total equity Total liabilities and equity 2022 17,262 $ 7,609 17,976 17,403 3,088 1,521 1,374 66,234 36,048 14,478 25,798 7,625 6,010 16,998 11,705 2,892 187,788 $ 3,757 $ 18,644 18,118 14,485 1,944 56,947 2,006 28,593 33,347 16,021 12,154 1,137 150,206 6 15 (1,311) 34,173 84,693 (81,209) 36,366 1,216 37,582 187,788 $ 2021 15,770 12,297 15,620 15,847 4,881 1,933 66,348 42,209 15,609 26,182 9,330 6,124 19,040 10,855 3,17 198,874 4,361 16,243 17,372 13,977 51,953 1,989 30,824 37,166 21,202 13,240 88 157,262 6 15 1,582 34,691 85,110 (81,093) 40,310 1,302 41,612 198,874 STATEMENT OF EARNINGS (LOSS) For the years ended December 31 (In millions; per-share amounts in dollars) Sales of equipment Sales of services Insurance revenues (Note 12) Total revenues Cost of equipment sold Cost of services sold Selling, general and administrative expenses Separation costs (Note 20) Research and development Interest and other financial charges Debt extinguishment costs (Note 10) Insurance losses, annuity benefits and other costs (Note 12) Goodwill impairments (Note 7) Non-operating benefit cost (income) Total costs and expenses Other income (loss) (Note 19) Earnings (loss) from continuing operations before income taxes Benefit (provision) for income taxes (Note 15) Earnings (loss) from continuing operations Earnings (loss) from discontinued operations, net of taxes (Note 2) Net earnings (loss) Less net earnings (loss) attributable to noncontrolling interests Net earnings (loss) attributable to the Company Preferred stock dividends Net earnings (loss) attributable to GE common shareholders Amounts attributable to GE common shareholders Earnings (loss) from continuing operations Less net earnings (loss) attributable to noncontrolling interests, continuing operations Earnings (loss) from continuing operations attributable to the Company Preferred stock dividends Earnings (loss) from continuing operations attributable to GE common shareholders Earnings (loss) from discontinued operations attributable to GE common shareholders Net earnings (loss) attributable to GE common shareholders Earnings (loss) per share from continuing operations (Note 18) Diluted earnings (loss) per share Basic earnings (loss) per share Net earnings (loss) per share (Note 18) Diluted earnings (loss) per share Basic earnings (loss) per share 2022 31,976 $ 41,626 2,954 76,555 30,426 25,109 12,781 973 2,813 1,607 465 2,734 (532) 76,375 1,231 1,412 (476) 936 (644) 292 67 225 (289) (64) $ 936 $ 67 869 (289) 581 (644) (64) $ 0.53 $ 0.53 $ (0.05) $ (0.06) $ 2021 34,200 $ 36,890 3,106 74,196 31,399 22,497 11,716 2,497 1,876 6,524 2,410 1,782 80,702 2,823 (3,683) 286 (3,396) (3,195) (6,591) (71) (6,520) (237) (6,757) $ (3,396) $ (71) (3,325) (237) (3,562) (3,195) (6,757) $ (3.25) $ (3.25) $ (6.16) $ (6.16) $ 2020 37,584 35,385 2,865 75,833 35,242 22,629 12,628 2,565 2,068 301 2,519 877 2,430 81,259 11,396 5,970 487 6,457 (911) 5,546 (158) 5,704 (474) 5,230 6,457 (158) 6,615 (474) 6,141 (911) 5,230 5.46 5.46 4.63 4.63 STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the years ended December 31 (In millions) Net earnings (loss) Less: net earnings (loss) attributable to noncontrolling interests Net earnings (loss) attributable to the Company Currency translation adjustments Benefit plans Investment securities and cash flow hedges Less: other comprehensive income (loss) attributable to noncontrolling interests Other comprehensive income (loss) attributable to the Company Comprehensive income (loss) Less: comprehensive income (loss) attributable to noncontrolling interests Comprehensive income (loss) attributable to the Company STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY For the years ended December 31 (In millions) Preferred stock issued Common stock issued Beginning balance Currency translation adjustments Benefit plans Investment securities and cash flow hedges Accumulated other comprehensive income (loss) Beginning balance Gains (losses) on treasury stock dispositions Stock-based compensation Other changes(a) Other capital Beginning balance Net earnings (loss) attributable to the Company Dividends and other transactions with shareholders 2022 292 $ 67 225 $ (1,355) 2,889 (4,425) 1 (2,893) $ (2,600) $ 68 (2,668) $ 2022 6 $ 15 $ 1,582 (1,353) 2,886 (4,425) (1,311) $ 34,691 (741) 362 (139) 34,173 $ 85,110 225 (642) 2021 (6,591) $ (71) (6,520) $ 84,693 $ (81,093) (1,048) 931 (81,209) $ 36,366 1,216 37,582 $ (174) 9,044 2,466 5 11,330 $ 4,745 $ (66) 4,810 $ 2021 6 $ 15 $ (9,749) (177) 9,041 2,466 1,582 $ 34,307 (740) 429 696 34,691 $ 92,247 (6,520) (617) Changes in accounting Retained earnings Beginning balance Purchases Dispositions Common stock held in treasury (81,093) $ GE shareholders' equity balance 40,310 Noncontrolling interests balance 1,302 Total equity balance at December 31 41,612 $ (a) Included $687 million related to the change in par value of issued common stock from $0.06 to $0.01 in the year ended December 31, 2021. 85,110 $ (81,961) (107) 974 2020 5,546 (158) 5,704 435 1,632 (78) 6 1,984 7,536 (152) 7,688 2020 6 702 (11,732) 433 1,628 (78) (9,749) 34,405 (703) 429 176 34,307 87,732 5,704 (1,014) (175) 92,247 (82,797) (28) 864 (81,961) 35,552 1,522 37,073 STATEMENT OF FINANCIAL POSITION December 31 (In millions) Cash, cash equivalents and restricted cash Investment securities (Note 3) Current receivables (Note 4) Inventories, including deferred inventory costs (Note 5) Current contract assets (Note 8) All other current assets (Note 9) Assets of businesses held for sale (Note 2) Current assets Investment securities (Note 3) Property, plant and equipment - net (Note 6) Goodwill (Note 7) Other intangible assets - net (Note 7) Contract and other deferred assets (Note 8) All other assets (Note 9) Deferred income taxes (Note 15) Assets of discontinued operations (Note 2) Total assets Short-term borrowings (Note 10) Accounts payable and equipment project payables (Note 11) Progress collections and deferred income All other current liabilities (Note 14) Liabilities of businesses held for sale (Note 2) Current liabilities Deferred income Long-term borrowings (Note 10) Insurance liabilities and annuity benefits (Note 12) Non-current compensation and benefits All other liabilities (Note 14) Liabilities of discontinued operations (Note 2) Total liabilities Preferred stock (Note 16) Common stock (Note 16) Accumulated other comprehensive income (loss) - net attributable to GE Other capital Retained earnings Less common stock held in treasury Total GE shareholders' equity Noncontrolling interests (Note 16) Total equity Total liabilities and equity 2022 17,262 $ 7,609 17,976 17,403 3,088 1,521 1,374 66,234 36,048 14,478 25,798 7,625 6,010 16,998 11,705 2,892 187,788 $ 3,757 $ 18,644 18,118 14,485 1,944 56,947 2,006 28,593 33,347 16,021 12,154 1,137 150,206 6 15 (1,311) 34,173 84,693 (81,209) 36,366 1,216 37,582 187,788 $ 2021 15,770 12,297 15,620 15,847 4,881 1,933 66,348 42,209 15,609 26,182 9,330 6,124 19,040 10,855 3,17 198,874 4,361 16,243 17,372 13,977 51,953 1,989 30,824 37,166 21,202 13,240 88 157,262 6 15 1,582 34,691 85,110 (81,093) 40,310 1,302 41,612 198,874 STATEMENT OF EARNINGS (LOSS) For the years ended December 31 (In millions; per-share amounts in dollars) Sales of equipment Sales of services Insurance revenues (Note 12) Total revenues Cost of equipment sold Cost of services sold Selling, general and administrative expenses Separation costs (Note 20) Research and development Interest and other financial charges Debt extinguishment costs (Note 10) Insurance losses, annuity benefits and other costs (Note 12) Goodwill impairments (Note 7) Non-operating benefit cost (income) Total costs and expenses Other income (loss) (Note 19) Earnings (loss) from continuing operations before income taxes Benefit (provision) for income taxes (Note 15) Earnings (loss) from continuing operations Earnings (loss) from discontinued operations, net of taxes (Note 2) Net earnings (loss) Less net earnings (loss) attributable to noncontrolling interests Net earnings (loss) attributable to the Company Preferred stock dividends Net earnings (loss) attributable to GE common shareholders Amounts attributable to GE common shareholders Earnings (loss) from continuing operations Less net earnings (loss) attributable to noncontrolling interests, continuing operations Earnings (loss) from continuing operations attributable to the Company Preferred stock dividends Earnings (loss) from continuing operations attributable to GE common shareholders Earnings (loss) from discontinued operations attributable to GE common shareholders Net earnings (loss) attributable to GE common shareholders Earnings (loss) per share from continuing operations (Note 18) Diluted earnings (loss) per share Basic earnings (loss) per share Net earnings (loss) per share (Note 18) Diluted earnings (loss) per share Basic earnings (loss) per share 2022 31,976 $ 41,626 2,954 76,555 30,426 25,109 12,781 973 2,813 1,607 465 2,734 (532) 76,375 1,231 1,412 (476) 936 (644) 292 67 225 (289) (64) $ 936 $ 67 869 (289) 581 (644) (64) $ 0.53 $ 0.53 $ (0.05) $ (0.06) $ 2021 34,200 $ 36,890 3,106 74,196 31,399 22,497 11,716 2,497 1,876 6,524 2,410 1,782 80,702 2,823 (3,683) 286 (3,396) (3,195) (6,591) (71) (6,520) (237) (6,757) $ (3,396) $ (71) (3,325) (237) (3,562) (3,195) (6,757) $ (3.25) $ (3.25) $ (6.16) $ (6.16) $ 2020 37,584 35,385 2,865 75,833 35,242 22,629 12,628 2,565 2,068 301 2,519 877 2,430 81,259 11,396 5,970 487 6,457 (911) 5,546 (158) 5,704 (474) 5,230 6,457 (158) 6,615 (474) 6,141 (911) 5,230 5.46 5.46 4.63 4.63 STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the years ended December 31 (In millions) Net earnings (loss) Less: net earnings (loss) attributable to noncontrolling interests Net earnings (loss) attributable to the Company Currency translation adjustments Benefit plans Investment securities and cash flow hedges Less: other comprehensive income (loss) attributable to noncontrolling interests Other comprehensive income (loss) attributable to the Company Comprehensive income (loss) Less: comprehensive income (loss) attributable to noncontrolling interests Comprehensive income (loss) attributable to the Company STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY For the years ended December 31 (In millions) Preferred stock issued Common stock issued Beginning balance Currency translation adjustments Benefit plans Investment securities and cash flow hedges Accumulated other comprehensive income (loss) Beginning balance Gains (losses) on treasury stock dispositions Stock-based compensation Other changes(a) Other capital Beginning balance Net earnings (loss) attributable to the Company Dividends and other transactions with shareholders 2022 292 $ 67 225 $ (1,355) 2,889 (4,425) 1 (2,893) $ (2,600) $ 68 (2,668) $ 2022 6 $ 15 $ 1,582 (1,353) 2,886 (4,425) (1,311) $ 34,691 (741) 362 (139) 34,173 $ 85,110 225 (642) 2021 (6,591) $ (71) (6,520) $ 84,693 $ (81,093) (1,048) 931 (81,209) $ 36,366 1,216 37,582 $ (174) 9,044 2,466 5 11,330 $ 4,745 $ (66) 4,810 $ 2021 6 $ 15 $ (9,749) (177) 9,041 2,466 1,582 $ 34,307 (740) 429 696 34,691 $ 92,247 (6,520) (617) Changes in accounting Retained earnings Beginning balance Purchases Dispositions Common stock held in treasury (81,093) $ GE shareholders' equity balance 40,310 Noncontrolling interests balance 1,302 Total equity balance at December 31 41,612 $ (a) Included $687 million related to the change in par value of issued common stock from $0.06 to $0.01 in the year ended December 31, 2021. 85,110 $ (81,961) (107) 974 2020 5,546 (158) 5,704 435 1,632 (78) 6 1,984 7,536 (152) 7,688 2020 6 702 (11,732) 433 1,628 (78) (9,749) 34,405 (703) 429 176 34,307 87,732 5,704 (1,014) (175) 92,247 (82,797) (28) 864 (81,961) 35,552 1,522 37,073