SEGMENT OPERATIONS

Segment revenues include sales of products and services related to the segment. Industrial segment profit is determined based on internal performance measures used by our Chief Operating Decision Maker, who is our 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.

Interest and other financial charges, income taxes, non-operating benefit costs and GE goodwill impairments 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.

Orders are contractual commitments with customers to provide specified goods or services for an agreed upon price. Backlog is unfilled customer orders for products and product services (expected life of contract sales for product services). Remaining performance obligations (RPO), a defined term under GAAP, is backlog excluding any purchase order that provides the customer with the ability to cancel or terminate without incurring a substantive penalty, even if the likelihood of cancellation is remote based on historical experience. We plan to continue reporting backlog as we believe that it is a useful metric for investors, given its relevance to total orders.



	March 31, 2019
(In billions)	Equipment			Services			Total

Backlog	$	84.4		$	289.8		$	374.2
Adjustments	(38.3		)	(94.6		)	(132.9		)
Remaining Performance Obligation	$	46.1		$	195.2		$	241.4

Adjustments to reported backlog of $(132.9) billion as of March 31, 2019 are largely driven by adjustments of $(118.6) billion in our Aviation segment: (1) backlog includes engine contracts for which we have received purchase orders that are cancelable. We have included these in backlog as our historical experience has shown no net cancellations, as any canceled engines are typically moved by the airframer to other program customers; (2) our services backlog includes contracts that are cancelable without substantive penalty, primarily time and materials contracts; (3) backlog includes engines contracted under long-term service agreements, even if the engines have not yet been put into service. These adjustments to reported backlog are expected to be satisfied beyond one year. See Note 9 to the consolidated financial statements for further information.



SUMMARY OF OPERATING SEGMENTS	Three months ended March 31
(Dollars in millions)	2019			2018			V%

Revenues
Power	$	5,659		$	7,222		(22)	%
Renewable Energy	1,604			1,646			(3)	%
Aviation	7,954			7,112			12	%
Oil & Gas	5,616			5,385			4	%
Healthcare	4,683			4,702			—	%
Total industrial segment revenues	25,517			26,067			(2)	%
Capital	2,227			2,173			2	%
Total segment revenues	27,743			28,240			(2)	%
Corporate items and eliminations(a)	(458		)	(452		)	(1	)%
Consolidated revenues	$	27,286		$	27,788		(2)	%

Segment profit (loss)
Power	$	80		$	273		(71)	%
Renewable Energy	(162		)	77			U
Aviation	1,660			1,603			4	%
Oil & Gas(b)	163			(144		)	F
Healthcare	781			735			6	%
Total industrial segment profit	2,523			2,544			(1)	%
Capital	135			(215		)	F
Total segment profit (loss)	2,658			2,328			14	%
Corporate items and eliminations(a)	(204		)	(659		)	69	%
GE interest and other financial charges	(588		)	(639		)	8	%
GE non-operating benefit costs	(562		)	(681		)	17	%
GE benefit (provision) for income taxes	(350		)	(89		)	U
Earnings (loss) from continuing operations attributable to GE common shareowners	954			261			F
Earnings (loss) from discontinued operations, net of taxes	2,592			(1,441		)	F
Less net earnings attributable to noncontrolling interests, discontinued operations	(2		)	4			U
Earnings (loss) from discontinued operations, net of tax and noncontrolling interest	2,595			(1,444		)	F
Consolidated net earnings (loss) attributable to the GE common shareowners	$	3,549		$	(1,184	)	F


(a)	Effective the first quarter of 2019, Corporate items and eliminations includes the results of our Lighting segment for all periods presented.


(b)	Oil & Gas segment profit excluding restructuring and other charges* was $222 million and $181 million for the three months ended March 31, 2019 and 2018, respectively.

*Non-GAAP Financial Measure