Sort by: 2004 | 2003 | 2002 | General Electric Company and consolidated affiliates | GE | GECS
| GE | |||||||||
|---|---|---|---|---|---|---|---|---|---|
For the years ended December 31 (In millions) |
2004 |
2003 | 2002 | ||||||
| CASH FLOWS — OPERATING ACTIVITIES | |||||||||
| Net earnings | $ | 16,819 | $ | 15,236 | $ | 14,167 | |||
| Adjustments to reconcile net earnings to cash provided | |||||||||
| from operating activities | |||||||||
| Cumulative effect of accounting changes | – | 587 | 1,015 | ||||||
| Depreciation and amortization of property, plant and equipment | 2,533 | 2,277 | 2,199 | ||||||
| Earnings (before accounting changes) retained by GECS | (5,282 | ) | (4,553 | ) | (2,710 | ) | |||
| Deferred income taxes | (175 | ) | 389 | 1,005 | |||||
| Decrease (increase) in GE current receivables | (908 | ) | 585 | (486 | ) | ||||
| Decrease (increase) in inventories | (459 | ) | 909 | (149 | ) | ||||
| Increase (decrease) in accounts payable | 1,888 | 676 | 708 | ||||||
| Decrease in GE progress collections | (464 | ) | (2,268 | ) | (5,062 | ) | |||
| Increase in insurance liabilities and reserves | – | – | – | ||||||
| Provision for losses on financing receivables | – | – | – | ||||||
| All other operating activities | 1,252 | (913 | ) | (590 | ) | ||||
| CASH FROM OPERATING ACTIVITIES | 15,204 | 12,925 | 10,097 | ||||||
CASH FLOWS — INVESTING ACTIVITIES |
|||||||||
| Additions to property, plant and equipment | (2,427 | ) | (2,158 | ) | (2,386 | ) | |||
| Dispositions of property, plant and equipment | – | – | – | ||||||
| Net increase in GECS financing receivables | – | – | – | ||||||
| Payments for principal businesses purchased | (4,815 | ) | (3,870 | ) | (8,952 | ) | |||
| Investment in GECS | – | – | (6,300 | ) | |||||
| All other investing activities | 632 | 236 | 203 | ||||||
| CASH USED FOR INVESTING ACTIVITIES | (6,610 | ) | (5,792 | ) | (17,435 | ) | |||
CASH FLOWS — FINANCING ACTIVITIES |
|||||||||
| Net increase (decrease) in borrowings (maturities of 90 days or less) | (1,690 | ) | (6,704 | ) | 7,924 | ||||
| Newly issued debt (maturities longer than 90 days) | 434 | 7,356 | 66 | ||||||
| Repayments and other reductions (maturities longer than 90 days) | (1,568 | ) | (277 | ) | (1,229 | ) | |||
| Net dispositions (purchases) of GE shares for treasury | 3,993 | 726 | (985 | ) | |||||
| Dividends paid to shareowners | (8,278 | ) | (7,643 | ) | (7,157 | ) | |||
| All other financing activities | – | – | |||||||
| CASH FROM (USED FOR) FINANCING ACTIVITIES | (7,109 | ) | (6,542 | ) | (1,381 | ) | |||
INCREASE (DECREASE) IN CASH AND EQUIVALENTS DURING YEAR |
1,485 | 591 | (8,719 | ) | |||||
| Cash and equivalents at beginning of year | 1,670 | 1,079 | 9,798 | ||||||
| Cash and equivalents at end of year | $ | 3,155 | $ | 1,670 | $ | 1,079 | |||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION | |||||||||
| Cash paid during the year for interest | $ | (155 | ) | $ | (155 | ) | $ | (155 | ) |
| Cash recovered (paid) during the year for income taxes | (2,261 | ) | (2,685 | ) | (2,331 | ) | |||
| 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 on page 61. |
| The notes to consolidated financial statements on pages 64-125 are an integral part of this statement. |
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