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STATEMENT OF EARNINGS (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Revenues $ 19,417 $ 23,360 $ 57,690 $ 68,976
Costs and expenses        
Cost of sales 15,275 17,328 46,054 50,949
Selling, general and administrative expenses 3,227 3,293 9,371 10,120
Interest and other financial charges 745 1,279 2,536 3,272
Insurance losses and annuity benefits 624 1,463 1,824 2,712
Goodwill impairments (Note 8) 0 740 1,717 1,484
Non-operating benefit costs 605 565 1,821 1,694
Other costs and expenses 84 99 322 337
Total costs and expenses 20,561 24,767 63,645 70,568
Other income (Note 22) (517) 158 8,430 1,170
GE Capital earnings (loss) from continuing operations 0 0 0 0
Earnings (loss) from continuing operations before income taxes (1,660) (1,249) 2,476 (422)
Benefit (provision) for income taxes 501 (41) 637 1
Earnings (loss) from continuing operations (1,160) (1,290) 3,113 (421)
Earnings (loss) from discontinued operations, net of taxes (35) (8,093) (206) (5,212)
Net earnings (loss) (1,195) (9,383) 2,907 (5,634)
Less net earnings (loss) attributable to noncontrolling interests (51) 40 (161) 73
Net earnings (loss) attributable to the Company (1,144) (9,423) 3,068 (5,707)
Preferred stock dividends (46) (42) (280) (270)
Net earnings (loss) attributable to GE common shareholders (1,190) (9,465) 2,787 (5,977)
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations (1,160) (1,290) 3,113 (421)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations (51) (7) (159) 16
Earnings (loss) from continuing operations attributable to the Company (1,109) (1,283) 3,271 (437)
Preferred stock dividends (46) (42) (280) (270)
Earnings (loss) from continuing operations attributable to GE common shareowners (1,155) (1,325) 2,991 (707)
Earnings (loss) from discontinued operations, net of taxes (35) (8,093) (206) (5,212)
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations 0 46 (2) 58
Net earnings (loss) attributable to GE common shareholders $ (1,190) $ (9,465) $ 2,787 $ (5,977)
Earnings (loss) per share from continuing operations (Note 16)        
Diluted earnings (loss) per share (in dollars per share) $ (0.13) $ (0.15) $ 0.32 $ (0.08)
Basic earnings (loss) per share (in dollars per share) (0.13) (0.15) 0.32 (0.08)
Net earnings (loss) per share (Note 16)        
Diluted earnings (loss) per share (in dollars per share) (0.14) (1.08) 0.30 (0.69)
Basic earnings (loss) per share (in dollars per share) (0.14) (1.08) 0.30 (0.69)
Dividends declared per common share (in dollars per share) $ 0.01 $ 0.01 $ 0.03 $ 0.03
Goods        
Revenues        
Sales $ 12,318 $ 14,869 $ 35,414 $ 42,220
Costs and expenses        
Cost of sales 10,833 12,503 31,679 35,123
Services        
Revenues        
Sales 5,558 6,635 17,336 20,912
Costs and expenses        
Cost of sales 4,442 4,825 14,375 15,825
GE Capital revenues from services        
Revenues        
Revenues 1,541 1,856 4,940 5,845
GE Capital        
Revenues        
Revenues 1,681 2,097 5,449 6,645
Costs and expenses        
Selling, general and administrative expenses 178 199 543 677
Interest and other financial charges 486 590 1,647 1,913
Insurance losses and annuity benefits 635 1,469 1,866 2,771
Goodwill impairments (Note 8) 0 0 839 0
Non-operating benefit costs 2 3 7 10
Other costs and expenses 98 103 395 380
Total costs and expenses 2,045 2,890 7,340 7,303
Other income (Note 22) 0 0 0 0
GE Capital earnings (loss) from continuing operations 0 0 0 0
Earnings (loss) from continuing operations before income taxes (364) (793) (1,890) (658)
Benefit (provision) for income taxes 357 188 614 327
Earnings (loss) from continuing operations (6) (604) (1,276) (331)
Earnings (loss) from discontinued operations, net of taxes (26) (18) (173) 255
Net earnings (loss) (32) (623) (1,449) (76)
Less net earnings (loss) attributable to noncontrolling interests 0 (2) 2 (2)
Net earnings (loss) attributable to the Company (32) (621) (1,451) (74)
Preferred stock dividends (46) (42) (280) (270)
Net earnings (loss) attributable to GE common shareholders (78) (663) (1,731) (344)
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations (6) (604) (1,276) (331)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations 0 (2) 2 (2)
Earnings (loss) from continuing operations attributable to the Company (6) (603) (1,278) (329)
Preferred stock dividends (46) (42) (280) (270)
Earnings (loss) from continuing operations attributable to GE common shareowners (52) (645) (1,558) (599)
Earnings (loss) from discontinued operations, net of taxes (26) (18) (173) 255
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations 0 0 0 0
Net earnings (loss) attributable to GE common shareholders (78) (663) (1,731) (344)
GE Capital | Goods        
Revenues        
Sales 12 22 49 56
Costs and expenses        
Cost of sales 11 17 38 44
GE Capital | Services        
Revenues        
Sales 0 0 0 0
Costs and expenses        
Cost of sales 635 510 2,005 1,508
GE Capital | GE Capital revenues from services        
Revenues        
Revenues 1,669 2,075 5,400 6,589
GE        
Revenues        
Revenues [1] 17,918 21,519 52,828 63,259
Costs and expenses        
Selling, general and administrative expenses [1] 3,106 3,172 9,034 9,734
Interest and other financial charges [1] 313 791 1,079 1,693
Insurance losses and annuity benefits [1] 0 0 0 0
Goodwill impairments (Note 8) [1] 0 740 877 1,484
Non-operating benefit costs [1] 603 562 1,815 1,684
Other costs and expenses [1] 0 4 0 0
Total costs and expenses [1] 18,705 22,128 56,943 64,201
Other income (Note 22) [1] (509) 153 8,481 1,177
GE Capital earnings (loss) from continuing operations [1] (52) (645) (1,558) (599)
Earnings (loss) from continuing operations before income taxes [1] (1,348) (1,101) 2,808 (363)
Benefit (provision) for income taxes [1] 143 (229) 22 [2] (327) [2]
Earnings (loss) from continuing operations [1] (1,205) (1,330) 2,830 (690)
Earnings (loss) from discontinued operations, net of taxes [1] (35) (8,093) (206) [2] (5,212) [2]
Net earnings (loss) [1] (1,241) (9,423) 2,624 [2] (5,902) [2]
Less net earnings (loss) attributable to noncontrolling interests [1] (51) 41 (163) 75
Net earnings (loss) attributable to the Company [1] (1,190) (9,465) 2,787 (5,977)
Preferred stock dividends [1] 0 0 0 0
Net earnings (loss) attributable to GE common shareholders [1] (1,190) (9,465) 2,787 (5,977)
Amounts attributable to GE common shareholders        
Earnings (loss) from continuing operations [1] (1,205) (1,330) 2,830 (690)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations [1] (51) (5) (161) 17
Earnings (loss) from continuing operations attributable to the Company [1] (1,155) (1,325) 2,991 (707)
Preferred stock dividends [1] 0 0 0 0
Earnings (loss) from continuing operations attributable to GE common shareowners [1] (1,155) (1,325) 2,991 (707)
Earnings (loss) from discontinued operations, net of taxes [1] (35) (8,093) (206) [2] (5,212) [2]
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations [1] 0 46 (2) 58
Net earnings (loss) attributable to GE common shareholders [1] (1,190) (9,465) 2,787 (5,977)
GE | Goods        
Revenues        
Sales [1] 12,314 14,879 35,401 42,312
Costs and expenses        
Cost of sales [1] 10,831 12,519 31,677 35,233
GE | Services        
Revenues        
Sales [1] 5,604 6,640 17,427 20,948
Costs and expenses        
Cost of sales [1] 3,853 4,341 12,461 14,372
GE | GE Capital revenues from services        
Revenues        
Revenues [1] $ 0 $ 0 $ 0 $ 0
[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.