Dollar amounts and share amounts in millions; per-share amounts in dollars; unaudited. Supplemental data are shown for “GE” and “GECC.” Transactions between GE and GECC have been eliminated from the “Consolidated” columns. See Note 1 to the 2011 consolidated financial statements at www.ge.com/ar2011 for further information about consolidation matters.

 
 
GENERAL ELECTRIC COMPANY
Summary of Operating Segments (unaudited)
                   
Three months ended December 31 Twelve months ended December 31
(Dollars in millions) 2012 2011 V% 2012 2011 V%
 
Revenues(a)
Power & Water(b) $ 7,652 $ 7,538 2 % $ 28,299 $ 25,675 10 %
Oil & Gas(b) 4,548 4,083 11 % 15,241 13,608 12 %
Energy Management(b) 1,934 1,954 (1 )% 7,412 6,422 15 %
Aviation 5,467 4,924 11 % 19,994 18,859 6 %
Healthcare 5,183 5,163 - % 18,290 18,083 1 %
Transportation 1,364 1,464 (7 )% 5,608 4,885 15 %
Home & Business Solutions(b)   2,068     2,019   2 %   7,967     7,693   4 %
Total industrial segment revenues 28,216 27,145 4 % 102,811 95,225 8 %
GE Capital   11,770     11,577   2 %   46,039     49,068   (6 )%
Total segment revenues 39,986 38,722 3 % 148,850 144,293 3 %
Corporate items and eliminations(a)   (659 )   (750 ) 12 %   (1,491 )   2,995   U

Consolidated revenues and other income from continuing operations
$ 39,327   $ 37,972   4 % $ 147,359   $ 147,288   - %
 
Segment profit(a)
Power & Water(b) $ 1,747 $ 1,661 5 % $ 5,422 $ 5,021 8 %
Oil & Gas(b) 649 567 14 % 1,924 1,660 16 %
Energy Management(b) 64 47 36 % 131 78 68 %
Aviation 1,039 850 22 % 3,747 3,512 7 %
Healthcare 1,021 953 7 % 2,920 2,803 4 %
Transportation 252 226 12 % 1,031 757 36 %
Home & Business Solutions(b)   115     54   F   311     237   31 %
Total industrial segment profit 4,887 4,358 12 % 15,486 14,068 10 %
GE Capital   1,808     1,660   9 %   7,401     6,584   12 %
Total segment profit 6,695 6,018 11 % 22,887 20,652 11 %
 
Corporate items and eliminations(a) (1,292 ) (1,379 ) 6 % (4,842 ) (287 ) U
GE interest and other financial charges (393 ) (267 ) (47 )% (1,353 ) (1,299 ) (4 )%
GE provision for income taxes   (694 )   (402 ) (73 )%   (2,013 )   (4,839 ) 58 %
 

Earnings from continuing operations attributable to the Company
4,316 3,970 9 % 14,679 14,227 3 %
 

Earnings (loss) from discontinued operations, net of taxes, attributable to the Company
  (305 )   (240 ) (27 )%   (1,038 )   (76 ) U
 

Consolidated net earnings attributable to the Company
$ 4,011   $ 3,730   8 % $ 13,641   $ 14,151   (4 )%
 

(a)
 

Segment revenues includes both revenues and other income related to the segment. Segment profit excludes results reported as discontinued operations, earnings attributable to noncontrolling interests of consolidated subsidiaries, GECC preferred stock dividends declared and accounting changes. Segment profit excludes or includes interest and other financial charges and income taxes according to how a particular segment’s management is measured – excluded in determining segment profit, which we sometimes refer to as “operating profit,” for Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation and Home & Business Solutions; included in determining segment profit, which we sometimes refer to as “net earnings,” for GE Capital. Results of our run-off insurance operations previously reported in Corporate items and eliminations are now reported in GE Capital.
 

(b)

Effective October 1, 2012, we reorganized our former Energy Infrastructure segment into three segments – Power & Water, Oil & Gas and Energy Management and we began reporting these as separate segments. We also reorganized our Home & Business Solutions segment by transferring our Intelligent Platforms business to Energy Management. Results for 2012 and prior periods are reported on this basis.
 
 
GENERAL ELECTRIC COMPANY
Summary of Operating Segments (unaudited)
Additional Information
                           
 
Three months ended December 31 Twelve months ended December 31
(Dollars in millions) 2012 2011 V% 2012 2011 V%
 
GE Capital
 
Revenues $ 11,770 $ 11,577   2 % $ 46,039 $ 49,068   (6 )%
 
Segment profit $ 1,808 $ 1,660   9 % $ 7,401 $ 6,584   12 %
 
Revenues
Commercial Lending and Leasing (CLL) $ 4,150 $ 4,392 (6 )% $ 16,857 $ 18,178 (7 )%
Consumer 3,979 3,744 6 % 15,579 16,767 (7 )%
Real Estate 994 878 13 % 3,654 3,712 (2 )%
Energy Financial Services 422 292 45 % 1,508 1,223 23 %
GE Capital Aviation Services (GECAS) 1,397 1,345 4 % 5,294 5,262 1 %
 
Segment profit (loss)
CLL $ 544 $ 777 (30 )% $ 2,423 $ 2,720 (11 )%
Consumer 755 617 22 % 3,240 3,703 (13 )%
Real Estate 309 (153 ) F 803 (928 ) F
Energy Financial Services 107 110 (3 )% 432 440 (2 )%
GECAS 343 315 9 % 1,220 1,150 6 %
 
 
GENERAL ELECTRIC COMPANY
Condensed Statement of Financial Position (unaudited)
                            Financial
Consolidated GE(a) Services (GECC)
(Dollars in billions) 12/31/12 12/31/11 12/31/12 12/31/11 12/31/12     12/31/11
 
Assets
Cash & marketable securities $ 125.7 $ 131.9 $ 15.6 $ 8.4 $ 110.2 $ 124.1
Receivables 21.5 19.5 10.9 11.8
Inventories 15.4 13.8 15.3 13.7 0.1 0.1
Financing receivables - net 258.0 279.9 269.0 288.8
Property, plant & equipment - net 69.7 65.7 16.0 14.3 53.7 51.4
Investment in GECC 77.9 77.1
Goodwill & intangible assets 85.4 84.7 56.8 55.9 28.6 28.8
Other assets 108.3 119.3 38.0 36.7 76.3 88.9
Assets of businesses held for sale 0.2 0.7 0.2 0.7
Assets of discontinued operations   1.1   1.7     0.1   1.1   1.7
 
Total assets $ 685.3 $ 717.2 $ 230.5 $ 218.0 $ 539.2 $ 584.5
 
Liabilities and equity
Borrowings and bank deposits $ 414.1 $ 453.4 $ 17.5 $ 11.6 $ 397.3 $ 443.1

 

Investment contracts, insurance liabilities and insurance annuity benefits
28.3 29.8 28.7 30.2
Other liabilities 112.0 114.0 89.1 88.8 28.1 31.6
Liabilities of businesses held for sale 0.2 0.3 0.2 0.3
Liabilities of discontinued operations 2.3 1.6 0.1 0.2 2.3 1.5
GE shareowners' equity 123.0 116.4 123.0 116.4 81.9 77.1
Noncontrolling interests   5.4   1.7   0.8   1.0   0.7   0.7
 
Total liabilities and equity $ 685.3 $ 717.2 $ 230.5 $ 218.0 $ 539.2 $ 584.5
 

(a) Refers to the Industrial businesses of the Company including GECC on an equity basis.

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