Corporate Items and Eliminations
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| (In millions) |
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2006 |
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2005 |
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2004 |
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| Revenues |
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| Insurance activities |
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| GECS commercial paper interest rate swap adjustment |
|
197 |
|
|
540 |
|
|
518 |
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| Eliminations and other |
|
278 |
|
|
(1,105 |
) |
|
75 |
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| Total |
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| Operating Profit (cost) |
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| Insurance activities |
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| Principal pension plans |
|
(877 |
) |
|
(329 |
) |
|
124 |
|
| Underabsorbed corporate overhead |
|
(269 |
) |
|
(464 |
) |
|
(498 |
) |
| GECS commercial paper interest rate swap adjustment |
|
130 |
|
|
358 |
|
|
341 |
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| Other |
|
(292 |
) |
|
(306 |
) |
|
17 |
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| Total |
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) |
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) |
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) |
Corporate Items and Eliminations include the effects of eliminating transactions between operating segments; results of our insurance activities remaining in continuing operations; cost of, and cost reductions from, our principal pension plans; results of liquidating businesses such as consolidated, liquidating securitization entities; underabsorbed corporate overhead; certain non-allocated amounts described below; and a variety of sundry items. Corporate Items and Eliminations is not an operating segment. Rather, it is added to operating segment totals to reconcile to consolidated totals on the financial statements.
Certain amounts included in the line “Other” above are not allocated to GE operating segments because they are excluded from the measurement of their operating performance for internal purposes. In 2006, amounts not allocated to GE operating segments included $0.2 billion at NBC Universal, principally for technology and product development costs and restructuring charges; $0.2 billion at Industrial for restructuring and other charges; and $0.1 billion at Healthcare, principally for acquisition-related, restructuring and other charges. In 2004, these comprised $0.4 billion of Healthcare charges, principally related to the write-off of in-process research and development projects and other transitional costs associated with Amersham; and a $0.1 billion charge at Industrial as the gain on sale of the motors business was more than offset by costs for inventory obsolescence and other charges.
Other operating profit (cost) also reflects gains of $0.7 billion in 2006 from sales of business interests, principally Advanced Materials and GE Supply, as well as $0.1 billion and $0.3 billion from partial sales of an interest in Genpact in 2005 and 2004, respectively. We have ongoing commercial and financial relationships with these former affiliates.
