F I N AN C I AL S T AT E M E N T S
General Electric Company
and consolidated affiliates
2014
2013 STATEMENT OF CASH FLOWS
For the years ended December 31 (In millions)
Cash flows – operating activities
Net earnings
Less net earnings (loss) attributable to noncontrolling interests
Net earnings attributable to the Company
(Earnings) loss from discontinued operations
Adjustments to reconcile net earnings attributable to the
Company to cash provided from operating activities
Depreciation and amortization of property,
plant and equipment
Earnings from continuing operations retained by GECC
Deferred income taxes
Decrease (increase) in GE current receivables
Decrease (increase) in inventories
Increase (decrease) in accounts payable
Increase (decrease) in GE progress collections
Provision for losses on GECC financing receivables
All other operating activities
Cash from (used for) operating activities – continuing operations
Cash from (used for) operating activities – discontinued operations
Cash from (used for) operating activities
$
Cash flows – investing activities
Additions to property, plant and equipment
Dispositions of property, plant and equipment
Net decrease (increase) in GECC financing receivables
Proceeds from sale of discontinued operations
Proceeds from principal business dispositions
Proceeds from sale of equity interest in NBCU LLC
Net cash from (payments for) principal businesses purchased
All other investing activities
Cash from (used for) investing activities – continuing operations
Cash from (used for) investing activities – discontinued operations
Cash from (used for) investing activities
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of
90 days or less)
Net increase (decrease) in bank deposits
Newly issued debt (maturities longer than 90 days)
Repayments and other reductions (maturities longer than 90 days)
Proceeds from issuance of GECC preferred stock
Net dispositions (purchases) of GE shares for treasury
Dividends paid to shareowners
Proceeds from initial public offering of Synchrony Financial
All other financing activities
Cash from (used for) financing activities – continuing operations
Cash from (used for) financing activities – discontinued operations
Cash from (used for) financing activities
Effect of currency exchange rate changes on cash and equivalents
Increase (decrease) in cash and equivalents
Cash and equivalents at beginning of year
Cash and equivalents at end of year
Less cash and equivalents of discontinued operations
at end of year
Cash and equivalents of continuing operations at end of year
Supplemental disclosure of cash flows information
Cash paid during the year for interest
Cash recovered (paid) during the year for income taxes
See accompanying notes.
134 GE 2014 FORM 10-K
$
$
2012
15,345 $
112
15,233
112
13,355 $
298
13,057
2,120
13,864
223
13,641
983
9,283
(1,186)
(1,913)
(872)
305
(515)
3,993
3,075
27,515
195
27,710
9,762
(3,295)
(485)
(1,368)
360
1,893
4,818
2,175
29,037
(458)
28,579
9,192
(1,152)
(879)
(1,274)
(437)
(920)
3,832
8,029
31,015
316
31,331
(13,727)
6,262
(4,267)
232
2,950
(2,639)
6,447
(4,742)
(288)
(5,030)
(13,458)
5,883
2,715
528
3,324
16,699
(1,642)
14,625
28,674
443
29,117
(15,119)
6,184
6,979
227
3,618
(1,456)
11,157
11,590
(288)
11,302
(6,112)
13,286
37,548
(53,380)
(1,218)
(8,851)
2,842
(1,067)
(16,952)
(6)
(16,958)
(3,492)
2,230
88,787
91,017
(14,230)
2,197
45,392
(61,461)
990
(9,278)
(7,821)
(1,418)
(45,629)
56
(45,573)
(795)
11,328
77,459
88,787
(2,231)
2,450
63,019
(103,942)
3,960
(4,164)
(7,189)
(2,958)
(51,055)
(19)
(51,074)
1,278
(7,163)
84,622
77,459
133
90,884 $
232
88,555 $
191
77,268
(9,560) $
(2,955)
(8,988) $
(2,487)
(12,717)
(3,237)
F I N A N C I A L S T AT E M E N T S
STATEMENT OF CASH FLOWS (CONTINUED)
For the years ended December 31 (In millions)
Cash flows – operating activities
$
Net earnings
Less net earnings (loss) attributable to noncontrolling interests
Net earnings attributable to the Company
(Earnings) loss from discontinued operations
Adjustments to reconcile net earnings attributable to the
Company to cash provided from operating activities
Depreciation and amortization of property,
plant and equipment
Earnings from continuing operations retained by GECC(b)
Deferred income taxes
Decrease (increase) in GE current receivables
Decrease (increase) in inventories
Increase (decrease) in accounts payable
Increase (decrease) in GE progress collections
Provision for losses on GECC financing receivables
All other operating activities
Cash from (used for) operating activities – continuing operations
Cash from (used for) operating activities – discontinued operations
Cash from (used for) operating activities
Cash flows – investing activities
Additions to property, plant and equipment
Dispositions of property, plant and equipment
Net decrease (increase) in GECC financing receivables
Proceeds from sale of discontinued operations
Proceeds from principal business dispositions
Proceeds from sale of equity interest in NBCU LLC
Net cash from (payments for) principal businesses purchased
All other investing activities
Cash from (used for) investing activities – continuing operations
Cash from (used for) investing activities – discontinued operations
Cash from (used for) investing activities
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of
90 days or less)
Net increase (decrease) in bank deposits
Newly issued debt (maturities longer than 90 days)
Repayments and other reductions (maturities longer than 90 days)
Proceeds from issuance of GECC preferred stock
Net dispositions (purchases) of GE shares for treasury
Dividends paid to shareowners
Proceeds from initial public offering of Synchrony Financial
All other financing activities
Cash from (used for) financing activities – continuing operations
Cash from (used for) financing activities – discontinued operations
Cash from (used for) financing activities
Effect of currency exchange rate changes on cash and equivalents
Increase (decrease) in cash and equivalents
Cash and equivalents at beginning of year
Cash and equivalents at end of year
Less cash and equivalents of discontinued operations
at end of year
Cash and equivalents of continuing operations at end of year
$
Supplemental disclosure of cash flows information
Cash paid during the year for interest
$
Cash recovered (paid) during the year for income taxes
2014
GE(a)
2013
2012
Financial Services (GECC)
2014
2013
7,396 $
162
7,234
107
6,257 $
53
6,204
2,054
2012
15,183 $
(50)
15,233
112
13,302 $
245
13,057
2,120
13,801 $
160
13,641
983
6,278
63
6,215
1,130
2,508
(4,341)
(476)
(473)
(877)
884
(528)
3,129
15,171
(2)
15,169
2,449
(2,273)
(2,571)
(1,432)
(1,351)
809
1,919
1,528
14,255
(2)
14,253
2,291
(919)
(294)
1,105
(1,204)
158
(920)
2,985
17,826
17,826
6,859
(710)
27
(2)
3,993
240
17,748
197
17,945
7,313
(724)
33
73
4,818
99
19,870
(456)
19,414
6,901
(858)
(27)
(880)
3,832
5,418
21,731
316
22,047
(3,970)
602
(2,091)
(447)
(5,906)
2
(5,904)
(3,680)
1,316
16,699
(8,026)
(1,488)
4,821
2
4,823
(3,937)
540
(1,456)
(564)
(5,417)
(5,417)
(10,410)
6,284
(5,689)
232
2,320
(548)
6,997
(814)
(290)
(1,104)
(9,978)
5,883
3,589
528
1,983
6,384
14,972
23,361
441
23,802
(11,879)
6,184
5,490
227
2,863
11,794
14,679
(288)
14,391
243
3,084
(323)
(1,218)
(8,851)
346
(6,719)
(6,719)
(312)
2,234
13,682
15,916
949
512
(5,032)
(9,278)
(7,821)
(211)
(20,881)
(20,881)
(22)
(1,827)
15,509
13,682
(890)
6,961
(34)
(4,164)
(7,189)
32
(5,284)
(5,284)
2
7,127
8,382
15,509
(6,781)
13,286
34,464
(53,057)
(3,322)
2,842
(1,091)
(13,659)
(6)
(13,665)
(3,180)
(4)
75,105
75,101
(13,892)
2,197
44,888
(56,429)
990
(6,283)
(909)
(29,438)
56
(29,382)
(773)
13,061
62,044
75,105
(1,401)
2,450
55,841
(103,908)
3,960
(6,549)
(2,867)
(52,474)
(19)
(52,493)
1,276
(14,779)
76,823
62,044
15,916 $
13,682 $
15,509 $
133
74,968 $
232
74,873 $
191
61,853
(1,215) $
(1,337)
(1,132) $
(4,753)
(1,182) $
(2,987)
(8,910) $
(1,618)
(8,146) $
2,266
(12,172)
(250)
(a) Represents the adding together of all affiliated companies except General Electric Capital Corporation (GECC or Financial Services), which is presented on a one-line basis.
(b) Represents GECC earnings from continuing operations attributable to the Company, net of GECC dividends paid to GE.
In the consolidating data on this page, "GE" means the basis of consolidation as described in Note 1 to the consolidated financial statements; "GECC" means General Electric Capital Corporation and
all of its affiliates and associated companies. Separate information is shown for “GE” and “GECC.” Transactions between GE and GECC have been eliminated from the “General Electric Company
and consolidated affiliates” columns on the prior page and are discussed in Note 26.
See Note 25 for supplemental information regarding the Statement of Cash Flows
GE 2014 FORM 10-K 135