Reading Financial Reports for Dummies (27 page)
Read Reading Financial Reports for Dummies Online
Authors: Lita Epstein
w gs n
( ote 17)
319,015
260,752
Investment contracts, insurance liabilities and insurance annuity benefits (note 18) 34,068
34,501
ll
A oth r
e
b
a
il
t
il
i
s
e
i
n
( ote 19)
58,606
47,510
D f
e r
e
d
e
r
n
i
o
c me t x
a
s
e n
( ote 20)
12,144
14,110
L b
a
i
t
il
i
s
e
i
of d
o
c
s
i
nt n
i u d
e op r
e t
a o
i ns n
( ote 2)
1,828
2,744
o
T t l
a
b
a
il
t
il
i
s
e
i
671,774
577,681
n
i
M or t
i y n
i t
t
s
e
r
e
n
i
q
e u t
i y of o
c n o
s
d
il
t
a d
e
f
a f
t
a
il
i
s
e n
( ote 21)
8,004
7,493
Common stock (9,987,599,000 and 10,277,373,000 shares outstanding t
a y
-
r
a
e
n
e d 2007 n
a d 2006,
p
s
e
r
t
c
e
v
i
y
l
e )
669
669
Accumulated gains (losses) — net
n
I v
t
s
e m n
e t
u
c
e
s
r t
i
s
e
i
124
1,608
Cur n
e
r
y
c tr n
a
t
a
l
s
o
i n d
a u
j
t
s m n
e ts
10,708
6,181
C h
s
a
f o
l w h d
e g s
e
(668)
(129)
n
e
B
f
e t
i p n
a
l
s
(1,840)
(4,406)
Oth r
e
p
a
c
t
i l
a
26,100
25,486
t
e
R
n
i
a
d
e
r
a
e n n
i gs
117,362
106,993
L
s
s
e
o
c mmon t
s o k
c h d
l
e
n
i t
u
s
a
e
r
ry
(36,896)
(24,893)
o
T t l
a h
s
o
e
r
a
n
w
r
e ’
s
q
e u t
i y n
( ot s
e 22 n
a d 23)
115,559
111,509
o
T t l
a
b
a
il
t
il
i
s
e
i
n
a d q
e u t
i y
$795,337
$696,683
Figure 10-1:
The sum of accumulated gains (losses) on investment securities, currency translation adjustments, cash flow GE balance
hedges and benefit plans constitutes “Accumulated nonowner changes other than earnings,” as shown in note 22, and was $8,324 million and $3,254million at December 31, 2007 and 2006, respectively.
sheet.
See accompanying notes.
142
Part II: Checking Out the Big Show: Annual Reports
GE
GECS
2007
2006
2007
2006
$ 6,702
$ 4,480
$ 9,455
$ 12,452
343
342
45,093
47,472
15,093
13,766
—
—
12,834
9,978
63
54
—
—
385,604
328,589
—
—
22,091
21,690
14,142
12,675
63,753
57,975
57,676
54,097
—
—
55,689
48,645
25,427
22,754
11,633
9,739
4,545
3,176
40,608
33,442
83,405
59,387
66
8,756
6,703
11,119
$214,786
$195,920
$646,139
$564,668
$ 4,106
$ 2,076
$192,421
$173,313
11,120
10,969
14,774
13,803
10,374
5,248
—
—
3,100
2,878
—
—
16,629
17,944
—
—
11,656
9,043
308,504
252,953
—
—
34,359
34,807
32,046
26,930
26,625
20,691
3,39
1,540
8,753
12,570
302
2,239
1,526
485
92,724
78,867
586,962
508,622
6,503
5,544
1,501
1,949
669
669
1
1
124
1,608
110
1,594
10,708
6,181
7,472
4,837
(668)
(129)
(727)
(171)
(1,840)
(4,406)
(105)
(278)
26,100
25,486
12,574
12,537
117,362
106,993
38,351
35,577
(36,896)
(24,893)
—
—
115,559
111,509
57,676
54,097
$214,786
$195,920
$646,139
$564,668
In the consolidating data on this page, “GE” means the basis of consolidation as described in note 1 to the consolidated financial statements; “GECS” means General Electric Capital Services, Inc. and all of its affiliates and associated companies.
Transactions between GE and GECS have been eliminated
from the “General Electric Company and consolidated
affiliates” columns.
Chapter 10: Considering Consolidated Financial Statements
143
Statement of Earnings
General Electric Company
and consolidated affiliates
At December 31 (In millions, except share amounts)
2007
2006
2005
REVENUES
s
e
l
a
S
f
o
s
d
o
o
g
$ 60,670
$ 55,181
$ 50,727
s
e
l
a
S
f
o
s
e
c
i
v
r
e
s
38,856
36,329
32,839
t
O
r
e
h
e
m
o
c
n
i
t
o
n
(
e 3)
3,019
2,154
1,673
S
C
E
G
s
g
n
i
n
r
a
e
m
o
r
f
t
n
o
c
g
n
i
u
n
i
t
a
r
e
p
o
s
n
o
i
—
—
—
S
C
E
G
s
e
u
n
e
v
e
r
m
o
r
f
s
e
c
i
v
r
e
s
t
o
n
(
e 4)
70,193
58,179
51,341
t
o
T
l
a
s
e
u
n
e
v
e
r
172,738
151,843
136,580
COSTS AND EXPENSES (note 5)
t
s
o
C
f
o
s
d
o
o
g
d
l
o
s
47,309
43,279
39,169
t
s
o
C
f
o
s
e
c
i
v
r
e
s
d
l
o
s
25,816
23,494
20,615
t
n
I
t
s
e
r
e
d
n
a
t
o
r
e
h
l
a
i
c
n
a
n
i
f
s
e
g
r
a
h
c
23,787
18,896
14,811
Investment contracts, insurance losses and insurance annuity benefits 3,469
3,213
3,374
n
o
i
s
i
v
o
r
P
r
o
f
s
e
s
s
o
l
n
o
g
n
i
c
n
a
n
i
f
s
e
l
b
a
v
i
e
c
e
r
t
o
n
(
e 13)
4,546
3,130
3,239
t
O
r
e
h
t
s
o
c
s
d
n
a
s
e
s
n
e
p
x
e
40,297
35,639
3,278
t
i
r
o
n
i
M
y t
n
i
t
s
e
r
e
n
i
t
e
n
s
g
n
i
n
r
a
e
f
o
t
a
d
il
o
s
n
o
c
d
e
t
a
il
i
f
f
a
s
e
916
862
916
t
o
T
l
a
t
s
o
c
s
d
n
a
s
e
s
n
e
p
x
e
146,140
128,513
115,402
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
26,598
23,330
21,178
n
o
i
s
i
v
o
r
P
r
o
f
e
m
o
c
n
i
t
s
e
x
a
t
o
n
(
e 7)
(4,130)
(3,950)
(3,824)
EARNINGS FROM CONTINUING OPERATIONS
22,468
19,380
17,354
s
g
n
i
n
r
a
E
)
s
s
o
l(
m
o
r
f
t
n
o
c
s
i
d
d
e
u
n
i
t
a
r
e
p
o
,
s
n
o
i
t
e
n
f
o t
s
e
x
a
t
o
n
(
e 2)
(260)
1,362
(634)
NET EARNINGS
$ 22,208
$ 20,742
$ 16,720
Per-share amounts (note 8)
Per-share amounts — earnings from continuing operations
t
u
li
D
d
e
s
g
n
i
n
r
a
e
r
e
p
e
r
a
h
s
$ 2.20
$ 1.86
$ 1.64
c
i
s
a
B
s
g
n
i