Statement of Earnings
| General Electric Company and consolidated affiliates |
GE | GECS | |||||||
|---|---|---|---|---|---|---|---|---|---|
| For the years ended December 31 (In millions; per-share amounts in dollars) | 2007 | 2006 | 2005 | 2007 | 2006 | 2005 | 2007 | 2006 | 2005 |
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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. See accompanying notes. |
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| REVENUES | |||||||||
| Sales of goods | $ 60,670 | $ 55,181 | $ 50,727 | $ 60,374 | $ 53,221 | $ 48,268 | $ 718 | $ 2,384 | $ 2,528 |
| Sales of services | 38,856 | 36,329 | 32,839 | 39,422 | 36,698 | 33,139 | — | — | — |
| Other income (note 3) | 3,019 | 2,154 | 1,673 | 3,371 | 2,307 | 1,754 | — | — | — |
| GECS earnings from continuing operations | — | — | — | 12,428 | 10,255 | 9,004 | — | — | — |
| GECS revenues from services (note 4) | 70,193 | 58,179 | 51,341 | — | — | — | 71,468 | 59,242 | 52,679 |
| Total revenues | 172,738 | 151,843 | 136,580 | 115,595 | 102,481 | 92,165 | 72,186 | 61,626 | 55,207 |
| COSTS AND EXPENSES (note 5) | |||||||||
| Cost of goods sold | 47,309 | 43,279 | 39,169 | 47,103 | 41,501 | 36,869 | 628 | 2,204 | 2,369 |
| Cost of services sold | 25,816 | 23,494 | 20,615 | 26,382 | 23,863 | 20,915 | — | — | — |
| Interest and other financial charges | 23,787 | 18,896 | 14,811 | 1,993 | 1,668 | 1,319 | 22,731 | 17,857 | 14,045 |
| Investment contracts, insurance losses and insurance annuity benefits | 3,469 | 3,213 | 3,374 | — | — | — | 3,647 | 3,419 | 3,574 |
| Provision for losses on financing receivables (note 13) | 4,546 | 3,130 | 3,239 | — | — | — | 4,546 | 3,130 | 3,239 |
| Other costs and expenses | 40,297 | 35,639 | 33,278 | 14,148 | 12,893 | 12,316 | 26,661 | 23,125 | 21,628 |
| Minority interest in net earnings of consolidated affiliates | 916 | 862 | 916 | 707 | 624 | 714 | 209 | 238 | 202 |
| Total costs and expenses | 146,140 | 128,513 | 115,402 | 90,333 | 80,549 | 72,133 | 58,422 | 49,973 | 45,057 |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 26,598 | 23,330 | 21,178 | 25,262 | 21,932 | 20,032 | 13,764 | 11,653 | 10,150 |
| Provision for income taxes (note 7) | (4,130) | (3,950) | (3,824) | (2,794) | (2,552) | (2,678) | (1,336) | (1,398) | (1,146) |
| EARNINGS FROM CONTINUING OPERATIONS | 22,468 | 19,380 | 17,354 | 22,468 | 19,380 | 17,354 | 12,428 | 10,255 | 9,004 |
| Earnings (loss) from discontinued operations, net of taxes (note 2) | (260) | 1,362 | (634) | (260) | 1,362 | (634) | (2,127) | 403 | (1,427) |
| NET EARNINGS | $ 22,208 | $ 20,742 | $ 16,720 | $ 22,208 | $ 20,742 | $ 16,720 | $ 10,301 | $ 10,658 | $ 7,577 |
| Per-share amounts (note 8) | |||||||||
| Per-share amounts — earnings from continuing operations |
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| Diluted earnings per share | $ 2.20 | $ 1.86 | $ 1.64 | ||||||
| Basic earnings per share | 2.21 | 1.87 | 1.64 | ||||||
| Per-share amounts — net earnings | |||||||||
| Diluted earnings per share | 2.17 | 2.00 | 1.57 | ||||||
| Basic earnings per share | 2.18 | 2.00 | 1.58 | ||||||
| DIVIDENDS DECLARED PER SHARE | $ 1.15 | $ 1.03 | $ 0.91 | ||||||