Operating Segments

12 Months Ended

Dec. 31, 2014

Operating Segments [Abstract]

Summary of Operating Segments

NOTE 28. OPERATING SEGMENTS

Basis for presentation

Our operating businesses are organized based on the nature of markets and customers. Segment accounting policies are the same as described in Note 1. Segment results for our financial services businesses reflect the discrete tax effect of transactions.

Results of our formerly consolidated subsidiary, NBCU, and our equity method investment in NBCU LLC, which we sold in the first quarter of 2013 are reported in the Corporate items and eliminations line on the Summary of Operating Segments.

A description of our operating segments as of December 31, 2014, can be found below, and details of segment profit by operating segment can be found in the Summary of Operating Segments table in “Management’s Discussion and Analysis of Financial Condition and Results of Operations”

Power & Water

Power plant products and services, including design, installation, operation and maintenance services are sold into global markets. Gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls and related services, including total asset optimization solutions, equipment upgrades and long-term maintenance service agreements are sold to power generation and other industrial customers. Renewable energy solutions include wind turbines. Water treatment services and equipment include specialty chemical treatment programs, water purification equipment, mobile treatment systems and desalination processes.

Oil & Gas

Oil & Gas supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas (LNG) and pipeline compression, pipeline inspection, and including downstream processing in refineries and petrochemical plants. The business designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation and a broad portfolio of auxiliary equipment.

Energy Management

Energy Management is GE’s electrification business. Global teams design leading technology solutions for the delivery, management, conversion and optimization of electrical power for customers across multiple energy-intensive industries. GE has invested in our Energy Management capabilities, with strategic acquisitions and joint ventures that enable GE to increase its offerings to the utility, industrial, renewables, oil and gas, marine, metals and mining industries. Plant automation hardware, software and embedded computing systems including controllers, embedded systems, advanced software, motion control, operator interfaces and industrial computers are also provided by Energy Management.

Aviation

Aviation products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. Products and services are sold worldwide to airframe manufacturers, airlines and government agencies.

Healthcare

Healthcare products include diagnostic imaging systems such as magnetic resonance (MR), computed tomography (CT) and positron emission tomography (PET) scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. Healthcare-manufactured technologies include patient and resident monitoring, diagnostic cardiology, ultrasound, bone densitometry, anesthesiology and oxygen therapy, and neonatal and critical care devices. Related services include equipment monitoring and repair, information technologies and customer productivity services. Products also include diagnostic imaging agents used in medical scanning procedures, drug discovery, biopharmaceutical manufacturing and purification, and tools for protein and cellular analysis for pharmaceutical and academic research, including a pipeline of precision molecular diagnostics in development for neurology, cardiology and oncology applications. Products and services are sold worldwide to hospitals, medical facilities, pharmaceutical and biotechnology companies, and to the life science research market.

Transportation

Transportation is a global technology leader and supplier to the railroad, mining, marine and drilling industries. GE provides freight and passenger locomotives, diesel engines for rail, marine and stationary power applications, railway signaling and communications systems, underground mining equipment, motorized drive systems for mining trucks, information technology solutions, high-quality replacement parts and value added services.

Appliances & Lighting

Products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. These products are distributed both to retail outlets and direct to consumers, mainly for the replacement market, and to building contractors and distributors for new installations. Lighting products include a wide variety of lamps and lighting fixtures, including light-emitting diodes. Products and services are sold in North America and in global markets under various GE and private-label brands.

GE Capital

GE Capital businesses offer a broad range of financial services and products worldwide for businesses of all sizes. Services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. GE Capital also develops strategic partnerships and joint ventures that utilize GE’s industry-specific expertise in aviation, energy, infrastructure and healthcare to capitalize on market-specific opportunities. Products and services are offered in North America and in global markets through the following businesses: CLL, Consumer, Real Estate, Energy Financial Services and GECAS.

REVENUES
	Total revenues(a)						Intersegment revenues(b)						External revenues
(In millions)		2014		2013		2012		2014		2013		2012		2014		2013		2012
Power & Water	$	27,564	$	24,724	$	28,299	$	969	$	947	$	1,119	$	26,595	$	23,777	$	27,180
Oil & Gas		18,676		16,975		15,241		401		360		314		18,275		16,615		14,927
Energy Management		7,319		7,569		7,412		890		848		487		6,429		6,721		6,925
Aviation		23,990		21,911		19,994		692		500		672		23,298		21,411		19,322
Healthcare		18,299		18,200		18,290		6		14		37		18,293		18,186		18,253
Transportation		5,650		5,885		5,608		(2)		12		11		5,652		5,873		5,597
Appliances & Lighting		8,404		8,338		7,967		22		25		23		8,382		8,313		7,944
Total industrial		109,902		103,602		102,811		2,978		2,706		2,663		106,924		100,896		100,148
GE Capital		42,725		44,067		45,364		1,348		1,150		1,037		41,377		42,917		44,327
Corporate items
and eliminations(c)		(4,038)		(1,624)		(1,491)		(4,326)		(3,856)		(3,700)		288		2,232		2,209
Total	$	148,589	$	146,045	$	146,684	$	-	$	-	$	-	$	148,589	$	146,045	$	146,684

(a)Revenues of GE businesses include income from sales of goods and services to customers and other income.

(b) Sales from one component to another generally are priced at equivalent commercial selling prices.

(c) Includes the results of NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC.

Revenues from customers located in the United States were $70,622 million, $68,617 million and $70,466 million in 2014, 2013and 2012, respectively. Revenues from customers located outside the United States were $77,967 million, $77,428 million and $76,218 million in 2014, 2013and 2012, respectively.

							Property, plant and
	Assets(a)(b)						equipment additions(c)						Depreciation and amortization
	At December 31						For the years ended December 31						For the years ended December 31
(In millions)		2014		2013		2012		2014		2013		2012		2014		2013		2012
Power & Water	$	30,338	$	29,494	$	27,143	$	622	$	714	$	661	$	678	$	668	$	647
Oil & Gas		27,260		26,193		20,111		653		1,185		467		583		479		426
Energy Management		10,976		10,305		9,594		176		137		155		313		323		287
Aviation		33,716		32,273		25,145		1,197		1,178		781		824		677		644
Healthcare		29,227		27,858		28,369		405		316		322		843		861		879
Transportation		4,449		4,418		4,335		128		282		724		168		167		90
Appliances & Lighting		4,560		4,306		4,201		359		405		485		235		300		265
GE Capital		500,216		516,829		539,351		10,410		9,978		11,879		7,262		7,738		7,348
Corporate items
and eliminations(d)		7,607		4,884		26,750		(110)		194		(99)		166		260		218
Total	$	648,349	$	656,560	$	684,999	$	13,840	$	14,389	$	15,375	$	11,072	$	11,473	$	10,804

(a)Assets of discontinued operations, NBCU (our formerly consolidated subsidiary) and our former equity method investment in NBCUniversal LLC are included in Corporate items and eliminations for all periods presented.

(b) Total assets of Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments at December 31, 2014, include investment in and advances to associated companies of $357 million, $146 million, $824 million, $1,378 million, $511 million, $6 million, $57 million and $16,747 million, respectively. Investments in and advances to associated companies contributed approximately $(7) million, $20 million, $29 million, $94 million, $(33) million, an insignificant amount , $70 million and $1,182 million to segment pre-tax income of Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital operating segments, respectively, for the year ended December 31, 2014. Aggregate summarized financial information for significant associated companies assuming a 100% ownership interest at December 31, 2014 included: total assets of $93,624 million, primarily financing receivables of $46,481million; total liabilities of $64,872million, primarily debt of $40,244million; revenues totaled $46,087million; and net loss totaled $(1,295)million.

(c) Additions to property, plant and equipment include amounts relating to principal businesses purchased.

(d) Includes deferred income taxes that are presented as assets for purposes of our consolidating balance sheet presentation.

	Interest and other financial charges						Provision (benefit) for income taxes
(In millions)		2014		2013		2012		2014		2013		2012
GE Capital	$	8,397	$	9,267	$	11,596	$	138	$	(992)	$	521
Corporate items and eliminations(a)		1,085		849		811		1,634		1,668		2,013
Total	$	9,482	$	10,116	$	12,407	$	1,772	$	676	$	2,534

(a)Included amounts for Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation and Appliances & Lighting, for which our measure of segment profit excludes interest and other financial charges and income taxes.

Property, plant and equipment – net associated with operations based in the United States were $28,186 million, $28,657 million and $27,192 million at year-end 2014,2013 and 2012, respectively. Property, plant and equipment – net associated with operations based outside the United States were $38,201 million, $40,170 million and $41,441 million at year-end 2014, 2013 and 2012, respectively.