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STATEMENT OF CASH FLOWS (UNAUDITED)
$ in Millions
3 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Cash flows – operating activities    
Net earnings (loss) $ 6,233 $ 3,645
(Earnings) loss from discontinued operations 178 (2,663)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) 991 995
Amortization of intangible assets (Note 8) 340 367
(Earnings) loss from continuing operations retained by GE Capital 0 0
(Gains) losses on purchases and sales of business interests (Note 23) (12,372) (253)
(Gains) losses on equity securities (Note 23) 5,874 (20)
Principal pension plans cost (Note 13) 877 868
Principal pension plans employer contributions (70) (65)
Other postretirement benefit plans (net) (254) (289)
Provision (benefit) for income taxes 63 140
Cash recovered (paid) during the year for income taxes (310) (280)
Decrease (increase) in contract and other deferred assets (12) (680)
Decrease (increase) in GE current receivables (503) 545
Decrease (increase) in inventories (978) (1,165)
Increase (decrease) in accounts payable (601) 215
Increase (decrease) in GE progress collections (655) (331)
All other operating activities 1,050 (609)
Cash from (used for) operating activities – continuing operations (148) 420
Cash from (used for) operating activities – discontinued operations (67) (298)
Cash from (used for) operating activities (214) 122
Cash flows – investing activities    
Additions to property, plant and equipment (1,027) (1,395)
Dispositions of property, plant and equipment 731 1,068
Additions to internal-use software (60) (69)
Net decrease (increase) in financing receivables (50) 353
Proceeds from sale of discontinued operations 0 2,865
Proceeds from principal business dispositions 20,488 569
Net cash from (payments for) principal businesses purchased (6) 0
All other investing activities (856) 305
Cash from (used for) investing activities – continuing operations 19,221 3,696
Cash from (used for) investing activities – discontinued operations (134) (206)
Cash from (used for) investing activities 19,086 3,490
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (1,905) (445)
Newly issued debt (maturities longer than 90 days) 125 731
Repayments and other debt reductions (maturities longer than 90 days) (5,903) (3,546)
Dividends paid to shareholders (89) (88)
All other financing activities (147) (113)
Cash from (used for) financing activities – continuing operations (7,919) (3,461)
Cash from (used for) financing activities – discontinued operations 0 (274)
Cash from (used for) financing activities (7,919) (3,735)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (256) 78
Increase (decrease) in cash, cash equivalents and restricted cash 10,697 (45)
Cash, cash equivalents and restricted cash at beginning of year 37,077 35,548
Cash, cash equivalents and restricted cash at March 31 47,774 35,503
Less cash, cash equivalents and restricted cash of discontinued operations at March 31 437 3,671
Cash, cash equivalents and restricted cash of continuing operations at March 31 47,338 31,832
GE Capital    
Cash flows – operating activities    
Net earnings (loss) (151) 210
(Earnings) loss from discontinued operations 164 (35)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) 536 488
Amortization of intangible assets (Note 8) 25 13
(Earnings) loss from continuing operations retained by GE Capital 0 0
(Gains) losses on purchases and sales of business interests (Note 23) 0 0
(Gains) losses on equity securities (Note 23) 86 (1)
Principal pension plans cost (Note 13) 0 0
Principal pension plans employer contributions 0 0
Other postretirement benefit plans (net) (8) 3
Provision (benefit) for income taxes (123) (128)
Cash recovered (paid) during the year for income taxes (32) (8)
Decrease (increase) in contract and other deferred assets 0 0
Decrease (increase) in GE current receivables 0 0
Decrease (increase) in inventories 0 0
Increase (decrease) in accounts payable (5) (41)
Increase (decrease) in GE progress collections 0 0
All other operating activities 784 (451)
Cash from (used for) operating activities – continuing operations 1,276 50
Cash from (used for) operating activities – discontinued operations (95) (86)
Cash from (used for) operating activities 1,181 (36)
Cash flows – investing activities    
Additions to property, plant and equipment (541) (911)
Dispositions of property, plant and equipment 709 993
Additions to internal-use software (1) (3)
Net decrease (increase) in financing receivables (506) 1,673
Proceeds from sale of discontinued operations 0 0
Proceeds from principal business dispositions (16) 396
Net cash from (payments for) principal businesses purchased 0 0
All other investing activities 300 1,655
Cash from (used for) investing activities – continuing operations (56) 3,802
Cash from (used for) investing activities – discontinued operations (101) 152
Cash from (used for) investing activities (157) 3,954
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (514) (612)
Newly issued debt (maturities longer than 90 days) 124 483
Repayments and other debt reductions (maturities longer than 90 days) (5,840) (3,255)
Dividends paid to shareholders (42) (38)
All other financing activities (135) (95)
Cash from (used for) financing activities – continuing operations (6,406) (3,518)
Cash from (used for) financing activities – discontinued operations 0 (1)
Cash from (used for) financing activities (6,406) (3,519)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (113) 10
Increase (decrease) in cash, cash equivalents and restricted cash (5,495) 409
Cash, cash equivalents and restricted cash at beginning of year 19,460 15,020
Cash, cash equivalents and restricted cash at March 31 13,964 15,429
Less cash, cash equivalents and restricted cash of discontinued operations at March 31 437 593
Cash, cash equivalents and restricted cash of continuing operations at March 31 13,527 14,836
GE    
Cash flows – operating activities    
Net earnings (loss) 6,190 [1],[2] 3,606 [1],[2]
(Earnings) loss from discontinued operations 178 [1],[2] (2,663) [1],[2]
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) 453 [2] 505 [2]
Amortization of intangible assets (Note 8) 315 [2] 353 [2]
(Earnings) loss from continuing operations retained by GE Capital 30 [2] (135) [2]
(Gains) losses on purchases and sales of business interests (Note 23) (12,372) [2] (253) [2]
(Gains) losses on equity securities (Note 23) 5,789 [2] (20) [2]
Principal pension plans cost (Note 13) 877 [2] 868 [2]
Principal pension plans employer contributions (70) [2] (65) [2]
Other postretirement benefit plans (net) (247) [2] (292) [2]
Provision (benefit) for income taxes 187 [1],[2] 268 [1],[2]
Cash recovered (paid) during the year for income taxes (278) [2] (272) [2]
Decrease (increase) in contract and other deferred assets (12) [2] (680) [2]
Decrease (increase) in GE current receivables 487 [2] (57) [2]
Decrease (increase) in inventories (966) [2] (1,088) [2]
Increase (decrease) in accounts payable (1,468) [2] (2) [2]
Increase (decrease) in GE progress collections (673) [2] (343) [2]
All other operating activities (82) [2] (336) [2]
Cash from (used for) operating activities – continuing operations (1,662) [2] (607) [2]
Cash from (used for) operating activities – discontinued operations 29 [2] (528) [2]
Cash from (used for) operating activities (1,633) [2] (1,135) [2]
Cash flows – investing activities    
Additions to property, plant and equipment (504) [2] (552) [2]
Dispositions of property, plant and equipment 29 [2] 79 [2]
Additions to internal-use software (58) [2] (66) [2]
Net decrease (increase) in financing receivables 0 [2] 0 [2]
Proceeds from sale of discontinued operations 0 [2] 2,865 [2]
Proceeds from principal business dispositions 20,505 [2] 561 [2]
Net cash from (payments for) principal businesses purchased (6) [2] (396) [2]
All other investing activities 81 [2] (245) [2]
Cash from (used for) investing activities – continuing operations 20,046 [2] 2,246 [2]
Cash from (used for) investing activities – discontinued operations (33) [2] (42) [2]
Cash from (used for) investing activities 20,013 [2] 2,204 [2]
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (1,881) [2] (1,170) [2]
Newly issued debt (maturities longer than 90 days) 1 [2] 248 [2]
Repayments and other debt reductions (maturities longer than 90 days) (64) [2] (290) [2]
Dividends paid to shareholders (89) [2] (88) [2]
All other financing activities (12) [2] (18) [2]
Cash from (used for) financing activities – continuing operations (2,045) [2] (1,318) [2]
Cash from (used for) financing activities – discontinued operations 0 [2] (273) [2]
Cash from (used for) financing activities (2,045) [2] (1,592) [2]
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (143) [2] 68 [2]
Increase (decrease) in cash, cash equivalents and restricted cash 16,193 [2] (455) [2]
Cash, cash equivalents and restricted cash at beginning of year 17,617 [2] 20,528 [2]
Cash, cash equivalents and restricted cash at March 31 33,810 [2] 20,073 [2]
Less cash, cash equivalents and restricted cash of discontinued operations at March 31 0 [2] 3,078 [2]
Cash, cash equivalents and restricted cash of continuing operations at March 31 $ 33,810 [2] $ 16,996 [2]
[1] Represents the adding together of all GE Industrial affiliates and GE Capital continuing operations on a one-line basis. See Note 1.
[2] Represents the adding together of all GE Industrial affiliates and the impact of GE Capital dividends on a one-line basis. See Note 1.