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STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows – operating activities    
Net earnings (loss) $ 4,101 $ 3,749
(Earnings) loss from discontinued operations 171 (2,881)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) 2,281 1,965
Amortization of intangible assets (Note 8) 648 724
Goodwill impairments (Note 8) 1,717 744
(Earnings) loss from continuing operations retained by GE Capital 0 0
(Gains) losses on purchases and sales of business interests (Note 22) (12,482) (214)
(Gains) losses on equity securities (Note 22) 4,031 54
Principal pension plans cost (Note 13) 1,798 1,693
Principal pension plans employer contributions (144) (133)
Other postretirement benefit plans (net) (488) (542)
Provision (benefit) for income taxes (136) (41)
Cash recovered (paid) during the year for income taxes (622) (1,067)
Decrease (increase) in contract and other deferred assets 501 (548)
Decrease (increase) in GE current receivables (190) (696)
Decrease (increase) in inventories (730) (1,951)
Increase (decrease) in accounts payable (2,015) 828
Increase (decrease) in GE progress collections (670) 66
All other operating activities 911 (223)
Cash from (used for) operating activities – continuing operations (1,319) 1,528
Cash from (used for) operating activities – discontinued operations (53) (1,336)
Cash from (used for) operating activities (1,372) 192
Cash flows – investing activities    
Additions to property, plant and equipment (1,614) (2,946)
Dispositions of property, plant and equipment 1,054 1,912
Additions to internal-use software (98) (141)
Net decrease (increase) in financing receivables (164) 377
Proceeds from sale of discontinued operations 0 2,827
Proceeds from principal business dispositions 20,854 1,058
Net cash from (payments for) principal businesses purchased (7) 0
Capital contribution from GE to GE Capital 0 0
Sales of retained ownership interests in Wabtec 0 1,799
All other investing activities (1,516) 2,620
Cash from (used for) investing activities – continuing operations 18,509 2,266
Cash from (used for) investing activities – discontinued operations (91) 1,115
Cash from (used for) investing activities 18,419 3,382
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (3,412) (434)
Newly issued debt (maturities longer than 90 days) 14,228 1,462
Repayments and other debt reductions (maturities longer than 90 days) (22,005) (6,168)
Capital contribution from GE to GE Capital 0 0
Dividends paid to shareholders (324) (324)
All other financing activities (486) (627)
Cash from (used for) financing activities – continuing operations (11,999) (6,092)
Cash from (used for) financing activities – discontinued operations 1 (469)
Cash from (used for) financing activities (11,998) (6,561)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (217) 1
Increase (decrease) in cash, cash equivalents and restricted cash 4,831 (2,986)
Cash, cash equivalents and restricted cash at beginning of year 37,077 35,548
Cash, cash equivalents and restricted cash at June 30 41,908 32,562
Less cash, cash equivalents and restricted cash of discontinued operations at June 30 477 3,732
Cash, cash equivalents and restricted cash of continuing operations at June 30 41,431 28,830
GE Capital    
Cash flows – operating activities    
Net earnings (loss) (1,417) 547
(Earnings) loss from discontinued operations 147 (273)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) 1,373 1,002
Amortization of intangible assets (Note 8) 37 31
Goodwill impairments (Note 8) 839 0
(Earnings) loss from continuing operations retained by GE Capital 0 0
(Gains) losses on purchases and sales of business interests (Note 22) (58) 0
(Gains) losses on equity securities (Note 22) 46 (3)
Principal pension plans cost (Note 13) 0 0
Principal pension plans employer contributions 0 0
Other postretirement benefit plans (net) (17) (1)
Provision (benefit) for income taxes (257) (139)
Cash recovered (paid) during the year for income taxes (72) (97)
Decrease (increase) in contract and other deferred assets 0 0
Decrease (increase) in GE current receivables 0 0
Decrease (increase) in inventories 0 0
Increase (decrease) in accounts payable 4 (1)
Increase (decrease) in GE progress collections 0 0
All other operating activities 340 214
Cash from (used for) operating activities – continuing operations 967 1,279
Cash from (used for) operating activities – discontinued operations (79) (1,702)
Cash from (used for) operating activities 889 (423)
Cash flows – investing activities    
Additions to property, plant and equipment (655) (1,984)
Dispositions of property, plant and equipment 954 1,645
Additions to internal-use software (3) (4)
Net decrease (increase) in financing receivables 45 2,067
Proceeds from sale of discontinued operations 0 0
Proceeds from principal business dispositions 34 417
Net cash from (payments for) principal businesses purchased 0 0
Capital contribution from GE to GE Capital 0 0
Sales of retained ownership interests in Wabtec 0 0
All other investing activities 7,143 (1,280)
Cash from (used for) investing activities – continuing operations 7,518 861
Cash from (used for) investing activities – discontinued operations (60) 1,764
Cash from (used for) investing activities 7,458 2,625
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (205) (656)
Newly issued debt (maturities longer than 90 days) 6,797 1,053
Repayments and other debt reductions (maturities longer than 90 days) (17,392) (5,840)
Capital contribution from GE to GE Capital 0 1,500
Dividends paid to shareholders (232) (225)
All other financing activities (231) (561)
Cash from (used for) financing activities – continuing operations (11,264) (4,728)
Cash from (used for) financing activities – discontinued operations 0 (1)
Cash from (used for) financing activities (11,264) (4,729)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (62) 9
Increase (decrease) in cash, cash equivalents and restricted cash (2,979) (2,518)
Cash, cash equivalents and restricted cash at beginning of year 19,460 15,020
Cash, cash equivalents and restricted cash at June 30 16,480 12,502
Less cash, cash equivalents and restricted cash of discontinued operations at June 30 477 590
Cash, cash equivalents and restricted cash of continuing operations at June 30 16,003 11,913
GE    
Cash flows – operating activities    
Net earnings (loss) [1],[2] 3,865 3,522
(Earnings) loss from discontinued operations [1],[2] 171 (2,881)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities    
Depreciation and amortization of property, plant and equipment (Note 7) [2] 916 961
Amortization of intangible assets (Note 8) [2] 611 693
Goodwill impairments (Note 8) [1] 877 744
(Earnings) loss from continuing operations retained by GE Capital [2] 1,506 (46)
(Gains) losses on purchases and sales of business interests (Note 22) [2] (12,424) (214)
(Gains) losses on equity securities (Note 22) [2] 3,986 57
Principal pension plans cost (Note 13) [2] 1,798 1,693
Principal pension plans employer contributions [2] (144) (133)
Other postretirement benefit plans (net) [2] (471) (541)
Provision (benefit) for income taxes [1],[2] 121 97
Cash recovered (paid) during the year for income taxes [2] (550) (970)
Decrease (increase) in contract and other deferred assets [2] 501 (548)
Decrease (increase) in GE current receivables [2] 434 (1,246)
Decrease (increase) in inventories [2] (692) (1,822)
Increase (decrease) in accounts payable [2] (3,462) 355
Increase (decrease) in GE progress collections [2] (693) 61
All other operating activities [2] 386 (849)
Cash from (used for) operating activities – continuing operations [2] (3,266) (1,068)
Cash from (used for) operating activities – discontinued operations [2] 26 38
Cash from (used for) operating activities [2] (3,240) (1,029)
Cash flows – investing activities    
Additions to property, plant and equipment [2] (1,002) (1,116)
Dispositions of property, plant and equipment [2] 105 271
Additions to internal-use software [2] (95) (137)
Net decrease (increase) in financing receivables [2] 0 0
Proceeds from sale of discontinued operations [2] 0 2,827
Proceeds from principal business dispositions [2] 20,480 1,017
Net cash from (payments for) principal businesses purchased [2] (7) (417)
Capital contribution from GE to GE Capital [1] 0 (1,500)
Sales of retained ownership interests in Wabtec [1] 0 1,799
All other investing activities [2] 207 (111)
Cash from (used for) investing activities – continuing operations [2] 19,689 2,634
Cash from (used for) investing activities – discontinued operations [2] (30) (322)
Cash from (used for) investing activities [2] 19,659 2,312
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) [2] (3,512) (1,101)
Newly issued debt (maturities longer than 90 days) [2] 7,431 409
Repayments and other debt reductions (maturities longer than 90 days) [2] (12,113) (329)
Capital contribution from GE to GE Capital [1] 0 0
Dividends paid to shareholders [2] (176) (175)
All other financing activities [2] (83) (79)
Cash from (used for) financing activities – continuing operations [2] (8,453) (1,275)
Cash from (used for) financing activities – discontinued operations [2] 1 (468)
Cash from (used for) financing activities [2] (8,453) (1,743)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash [2] (155) (8)
Increase (decrease) in cash, cash equivalents and restricted cash [2] 7,811 (468)
Cash, cash equivalents and restricted cash at beginning of year [2] 17,617 20,528
Cash, cash equivalents and restricted cash at June 30 [2] 25,428 20,060
Less cash, cash equivalents and restricted cash of discontinued operations at June 30 [2] 0 3,143
Cash, cash equivalents and restricted cash of continuing operations at June 30 [2] $ 25,428 [1] $ 16,917
[1] Represents the adding together of all GE Industrial affiliates and GE Capital continuing operations on a one-line basis. See Note 1.
[2] Represents the adding together of all GE Industrial affiliates and the impact of GE Capital dividends on a one-line basis. See Note 1.