Our Time - GE 2004 Annual Report
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Audited Financial Statements Changes in Shareowners' Equity

(In millions) 2004
(Restated)
  2003
(Restated)
  2002
(Restated)
 
CHANGES IN SHAREOWNERS’ EQUITY (note 24)                  
Balance at January 1 $ 79,631   $   64,079   $   55,000  
Dividends and other transactions with shareowners   10,009     (5,520 )   (6,382 )
Changes other than transactions with shareowners                  
Increase attributable to net earnings   16,819     15,236     14,167  
Investment securities — net   412     710     1,378  
Currency translation adjustments — net   3,936     5,061     995  
Cash flow hedges — net   435     226     (1,004 )
Minimum pension liabilities — net   (421 )   (161 )   (75 )
Total changes other than transactions with shareowners   21,181     21,072     15,461  
Balance at December 31 $ 110,821   $   79,631   $   64,079  
The notes to consolidated financial statements on pages 64-125 are an integral part of these statements.

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