SEGMENT OPERATIONS

REVENUES AND PROFIT

Segment revenues include sales of products and services related to the segment.

Segment profit is determined based on internal performance measures used by the Chief Executive Officer (CEO) to assess the performance of each business in a given period. In connection with that assessment, the CEO may exclude matters, such as charges for restructuring, rationalization and other similar expenses, acquisition costs and other related charges, technology and product development costs, certain gains and losses from acquisitions or dispositions, and litigation settlements or other charges, for which responsibility preceded the current management team. Subsequent to the Baker Hughes transaction, restructuring and other charges are included in the determination of segment profit for our Oil & Gas segment. See the Corporate Items and Eliminations section within this MD&A for additional information about costs excluded from segment profit.

Segment profit excludes results reported as discontinued operations and material accounting changes other than those applied retrospectively. Segment profit also excludes the portion of earnings or loss attributable to noncontrolling interests of consolidated subsidiaries, and as such only includes the portion of earnings or loss attributable to our share of the consolidated earnings or loss of consolidated subsidiaries.

Segment profit excludes or includes interest and other financial charges, non-operating benefit costs, income taxes, and preferred stock dividends according to how a particular segment’s management is measured:


•	Interest and other financial charges, income taxes, non-operating benefit costs and GE preferred stock dividends are excluded in determining segment profit for the industrial segments.


•	Interest and other financial charges, income taxes, non-operating benefit costs and GE Capital preferred stock dividends are included in determining segment profit (which we sometimes refer to as “net earnings”) for the Capital segment.

Other income is included in segment profit for the industrial segments.

Certain corporate costs, such as shared services, employee benefits, and information technology, are allocated to our segments based on usage. A portion of the remaining corporate costs is allocated based on each segment’s relative net cost of operations.



SUMMARY OF OPERATING SEGMENTS

	Three months ended June 30								Six months ended June 30
(In millions)	2018			2017			V%		2018			2017			V%

Revenues
Power(a)	$	7,579		$	9,400		(19)	%	$	14,801		$	17,341		(15	)%
Renewable Energy	1,653			2,312			(29)	%	3,299			4,079			(19	)%
Oil & Gas	5,554			2,997			85	%	10,939			6,083			80	%
Aviation	7,519			6,634			13	%	14,631			13,307			10	%
Healthcare	4,978			4,688			6	%	9,680			8,993			8	%
Transportation	942			1,077			(13)	%	1,814			2,057			(12	)%
Lighting(a)	431			473			(9)	%	887			935			(5	)%
Total industrial segment revenues	28,657			27,582			4	%	56,052			52,795			6	%
Capital	2,429			2,446			(1)	%	4,602			5,127			(10	)%
Total segment revenues	31,085			30,028			4	%	60,654			57,923			5	%
Corporate items and eliminations	(982		)	(932		)			(1,890		)	(1,945		)
Consolidated revenues	$	30,104		$	29,097		3	%	$	58,764		$	55,978		5	%

Segment profit (loss)
Power(a)	$	421		$	994		(58)	%	$	694		$	1,432		(52	)%
Renewable Energy	82			158			(48)	%	159			228			(30	)%
Oil & Gas(b)	73			120			(39)	%	(70		)	380			U
Aviation	1,475			1,374			7	%	3,078			2,647			16	%
Healthcare	926			826			12	%	1,660			1,487			12	%
Transportation	155			183			(15)	%	285			278			3	%
Lighting(a)	24			17			41	%	26			27			(4	)%
Total industrial segment profit	3,157			3,673			(14)	%	5,832			6,480			(10	)%
Capital	(207		)	(172		)	(20)	%	(422		)	(219		)	(93	)%
Total segment profit (loss)	2,950			3,502			(16)	%	5,410			6,261			(14	)%
Corporate items and eliminations	(309		)	(1,120		)			(962		)	(2,522		)
GE interest and other financial charges	(690		)	(637		)	(8)	%	(1,333		)	(1,200		)	(11	)%
GE non-operating benefit costs	(690		)	(552		)	(25)	%	(1,374		)	(1,201		)	(14	)%
GE benefit (provision) for income taxes	(525		)	(165		)	U		(637		)	(188		)	U
Earnings (loss) from continuing operations attributable to GE common shareowners	736			1,028			(28)	%	1,105			1,150			(4	)%
Earnings (loss) from discontinued operations, net of taxes	(121		)	(146		)	17	%	(1,673		)	(385		)	U
Less net earnings attributable to
noncontrolling interests, discontinued operations	—			7			U		—			7			U
Earnings (loss) from discontinued operations,
net of tax and noncontrolling interest	(121		)	(152		)	20	%	(1,673		)	(392		)	U
Consolidated net earnings (loss) attributable to the GE common shareowners	$	615		$	875		(30)	%	$	(568	)	$	758		U


(a)	Beginning in the third quarter of 2017, the Energy Connections business within the former Energy Connections & Lighting segment was combined with the Power segment and presented as one reporting segment called Power. As a result of this combination, our GE Lighting and Current, powered by GE (Current) businesses are now reported as a separate segment called Lighting.


(b)	Oil & Gas segment profit excluding restructuring and other charges* was $222 million and $402 million for the three and six months ended June 30, 2018.

*Non-GAAP Financial Measure