XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
STATEMENT OF EARNINGS (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Revenues $ 17,750 $ 23,414 $ 38,273 $ 45,616
Costs and expenses        
Cost of sales 15,083 17,412 30,778 33,620
Selling, general and administrative expenses 3,079 3,425 6,144 6,827
Interest and other financial charges 997 929 1,791 1,993
Insurance losses and annuity benefits 564 638 1,199 1,249
Goodwill impairments (Note 8) 1,717 744 1,717 744
Non-operating benefit costs 598 561 1,216 1,129
Other costs and expenses 129 166 238 238
Total costs and expenses 22,166 23,874 43,084 45,801
Other income (Note 22) 2,078 164 8,947 1,012
GE Capital earnings (loss) from continuing operations 0 0 0 0
Earnings (loss) from continuing operations before income taxes (2,339) (296) 4,136 827
Benefit (provision) for income taxes 199 181 136 41
Earnings (loss) from continuing operations (2,139) (115) 4,272 868
Earnings (loss) from discontinued operations, net of taxes 7 219 (171) 2,881
Net earnings (loss) (2,132) 104 4,101 3,749
Less net earnings (loss) attributable to noncontrolling interests (145) (23) (111) 34
Net earnings (loss) attributable to the Company (1,987) 127 4,212 3,716
Preferred stock dividends (192) (188) (235) (228)
Net earnings (loss) attributable to GE common shareholders (2,179) (61) 3,977 3,488
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations (2,139) (115) 4,272 868
Less net earnings (loss) attributable to noncontrolling interests, continuing operations (145) (1) (108) 22
Earnings (loss) from continuing operations attributable to the Company (1,995) (114) 4,381 846
Preferred stock dividends (192) (188) (235) (228)
Earnings (loss) from continuing operations attributable to GE common shareowners (2,186) (302) 4,146 618
Earnings (loss) from discontinued operations, net of taxes 7 219 (171) 2,881
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations 0 (23) (2) 11
Net earnings (loss) attributable to GE common shareholders $ (2,179) $ (61) $ 3,977 $ 3,488
Earnings (loss) per share from continuing operations (Note 16)        
Diluted earnings (loss) per share (in dollars per share) $ (0.27) $ (0.03) $ 0.46 $ 0.07
Basic earnings (loss) per share (in dollars per share) (0.27) (0.03) 0.46 0.07
Net earnings (loss) per share (Note 16)        
Diluted earnings (loss) per share (in dollars per share) (0.26) (0.01) 0.44 0.40
Basic earnings (loss) per share (in dollars per share) (0.26) (0.01) 0.44 0.40
Dividends declared per common share (in dollars per share) $ 0.01 $ 0.01 $ 0.02 $ 0.02
Goods        
Revenues        
Sales $ 10,732 $ 14,101 $ 23,096 $ 27,351
Costs and expenses        
Cost of sales 10,306 11,646 20,846 22,620
Services        
Revenues        
Sales 5,328 7,269 11,778 14,277
Costs and expenses        
Cost of sales 4,777 5,766 9,933 11,000
GE Capital revenues from services        
Revenues        
Revenues 1,690 2,043 3,399 3,988
GE Capital        
Revenues        
Revenues 1,845 2,321 3,768 4,548
Costs and expenses        
Selling, general and administrative expenses 162 211 365 478
Interest and other financial charges 657 646 1,161 1,323
Insurance losses and annuity benefits 577 668 1,230 1,302
Goodwill impairments (Note 8) 839 0 839 0
Non-operating benefit costs 2 3 5 8
Other costs and expenses 178 178 297 277
Total costs and expenses 3,262 2,233 5,295 4,413
Other income (Note 22) 0 0 0 0
GE Capital earnings (loss) from continuing operations 0 0 0 0
Earnings (loss) from continuing operations before income taxes (1,416) 88 (1,526) 135
Benefit (provision) for income taxes 133 11 257 139
Earnings (loss) from continuing operations (1,283) 99 (1,270) 273
Earnings (loss) from discontinued operations, net of taxes 17 238 (147) 273
Net earnings (loss) (1,266) 336 (1,417) 547
Less net earnings (loss) attributable to noncontrolling interests 2 0 2 0
Net earnings (loss) attributable to the Company (1,268) 336 (1,418) 547
Preferred stock dividends (192) (188) (235) (228)
Net earnings (loss) attributable to GE common shareholders (1,459) 148 (1,653) 319
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations (1,283) 99 (1,270) 273
Less net earnings (loss) attributable to noncontrolling interests, continuing operations 2 0 2 0
Earnings (loss) from continuing operations attributable to the Company (1,285) 99 (1,272) 273
Preferred stock dividends (192) (188) (235) (228)
Earnings (loss) from continuing operations attributable to GE common shareowners (1,476) (89) (1,506) 46
Earnings (loss) from discontinued operations, net of taxes 17 238 (147) 273
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations 0 0 0 0
Net earnings (loss) attributable to GE common shareholders (1,459) 148 (1,653) 319
GE Capital | Goods        
Revenues        
Sales 13 18 37 34
Costs and expenses        
Cost of sales 10 14 28 27
GE Capital | Services        
Revenues        
Sales 0 0 0 0
Costs and expenses        
Cost of sales 835 512 1,370 999
GE Capital | GE Capital revenues from services        
Revenues        
Revenues 1,833 2,303 3,731 4,514
GE        
Revenues        
Revenues [1] 16,066 21,416 34,910 41,740
Costs and expenses        
Selling, general and administrative expenses [1] 2,979 3,367 5,928 6,562
Interest and other financial charges [1] 396 382 766 902
Insurance losses and annuity benefits [1] 0 0 0 0
Goodwill impairments (Note 8) [1] 877 744 877 744
Non-operating benefit costs [1] 596 558 1,212 1,122
Other costs and expenses [1] 0 5 0 (4)
Total costs and expenses [1] 19,105 21,972 38,238 42,073
Other income (Note 22) [1] 2,116 172 8,990 1,024
GE Capital earnings (loss) from continuing operations [1] (1,476) (89) (1,506) 46
Earnings (loss) from continuing operations before income taxes [1] (2,399) (473) 4,156 738
Benefit (provision) for income taxes [1] 66 170 (121) [2] (97) [2]
Earnings (loss) from continuing operations [1] (2,333) (303) 4,035 640
Earnings (loss) from discontinued operations, net of taxes [1] 7 219 (171) [2] 2,881 [2]
Net earnings (loss) [1] (2,325) (84) 3,865 [2] 3,522 [2]
Less net earnings (loss) attributable to noncontrolling interests [1] (147) (23) (113) 33
Net earnings (loss) attributable to the Company [1] (2,179) (61) 3,977 3,488
Preferred stock dividends [1] 0 0 0 0
Net earnings (loss) attributable to GE common shareholders [1] (2,179) (61) 3,977 3,488
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations [1] (2,333) (303) 4,035 640
Less net earnings (loss) attributable to noncontrolling interests, continuing operations [1] (147) (1) (110) 22
Earnings (loss) from continuing operations attributable to the Company [1] (2,186) (302) 4,146 618
Preferred stock dividends [1] 0 0 0 0
Earnings (loss) from continuing operations attributable to GE common shareowners [1] (2,186) (302) 4,146 618
Earnings (loss) from discontinued operations, net of taxes [1] 7 219 (171) [2] 2,881 [2]
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations [1] 0 (23) (2) 11
Net earnings (loss) attributable to GE common shareholders [1] (2,179) (61) 3,977 3,488
GE | Goods        
Revenues        
Sales [1] 10,728 14,117 23,087 27,432
Costs and expenses        
Cost of sales [1] 10,305 11,666 20,846 22,715
GE | Services        
Revenues        
Sales [1] 5,337 7,298 11,823 14,308
Costs and expenses        
Cost of sales [1] 3,952 5,250 8,608 10,031
GE | GE Capital revenues from services        
Revenues        
Revenues [1] $ 0 $ 0 $ 0 $ 0
[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.