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General Electric: Condensed Statement Of Earnings (Loss) (Unaudited) Consolidated Financial Services (GECC)

The following excerpt is from the company's SEC filing.

Revenues and other income

Sales of goods and services

25,527

25,890

25,612

26,025

Other income

GECC earnings from continuing operations

GECC revenues from services

Total revenues and other income

31,680

32,107

26,547

27,104

Costs and expenses

Cost of sales

19,249

19,740

19,336

19,877

Interest and other financial charges

Investment contracts, insurance losses and

insurance annuity benefits

Provision for losses on f inancing receivables

Other costs and expenses

Total costs and expenses

28,423

28,903

23,325

23,940

Earnings from continuing operations

before income taxes

Benefit (provision) for income taxes

Earnings (loss) from discontinued

operations, net of taxes

Net earnings

Less net earnings (loss) attributable to

noncontrolling interests

Net earnings attributable

to the Company

Preferred stock dividends declared

Net earnings attributable to

GE common shareowners

Amounts attributable to GE common

shareowners:

Earnings from continuing operations

Less net earnings (loss) attributable

to noncontrolling interests

attributable to the Company

GECC preferred stock dividends declared

attributable to GE common shareowners

Earnings (loss) from discontinued

operations, net of taxes

Net earnings attributable to GE

common shareowners

Per-share amounts - earnings from

continuing operations

Diluted earnings per share

Basic earnings per share

Per-share amounts - net earnings

Total average equivalent shares

10,173

10,119

10,103

10,039

Dividends declared per common share

common shareowners:

Adjustment (net of tax): non-operating

pension costs

Operating earnings (non-GAAP measure)

Operating earnings - diluted

earnings per share (non-GAAP measure)

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

Amounts may not add due to rounding.

Dollar amounts and share amounts in millions; per-share amounts in dollars. 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 2014 consolidated financial statements at www.ge.com/ar2014 and our Form 8-K filed on August 7, 2015 for further information about consolidation matters.

GENERAL ELECTRIC COMPANY

CONDENSED STATEMENT OF EARNINGS (LOSS) (UNAUDITED)

Financial Services (GECC)

Nine months ended September 30

75,266

75,839

75,592

76,262

GECC earnings (loss) from continuing operations

(7,394)

16,373

17,964

17,388

19,134

92,731

94,595

69,221

80,203

17,452

19,223

57,438

58,268

57,769

58,698

19,125

18,744

11,035

11,355

87,127

85,620

70,048

71,195

18,415

16,004

Earnings (loss) from continuing operations

before income taxes

(7,466)

(1,034)

(1,302)

(1,143)

(6,164)

(1,862)

(2,129)

(7,127)

operations, net of taxes

(10,336)

(10,332)

Net earnings (loss)

(12,198)

10,006

(12,465)

(17,459)

noncontrolling interests

Net earnings (loss) attributable to

the Company

(12,427)

10,081

(17,726)

GE common shareowners

(17,887)

Earnings (loss) from continuing operations

(2,091)

attributable to GE common shareowners

(7,555)

operations, net of taxes

Net earnings (loss) attributable to GE

Per-share amounts - earnings (loss) from

Diluted earnings (loss) per share

(0.21)

Basic earnings (loss) per share

Per-share amounts - net earnings (loss)

(1.23)

10,085

10,121

10,042

Operating earnings (loss) (non-GAAP measure)

Operating earnings (loss) - diluted

earnings (loss) per share (non-GAAP measure)

(0.07)

SUMMARY OF OPERATING SEGMENTS (UNAUDITED)

(Dollars in millions)

Revenues(a)

Power & Water

18,978

18,176

Oil & Gas

(16)%

11,891

13,666

(13)%

Energy Management

Aviation

17,927

17,566

Healthcare

12,666

13,166

Transportation

Appliances & Lighting

Total industrial segment revenues

26,243

26,625

77,479

78,082

GE Capital

Total segment revenues

32,555

33,009

94,931

97,305

Corporate items and eliminations(a)

(2,201)

(2,710)

(19)%

Consolidated revenues and other income

from continuing operations

Segment profit (loss)(a)

(12)%

(10)%

Total industrial segment profit

12,445

11,776

Total segment profit (loss)

14,867

(67)%

(1,559)

(1,550)

(4,436)

(4,566)

GE interest and other financial charges

(1,243)

(1,142)

GE provision for income taxes

attributable to the Company

Earnings (loss) from discontinued operations,

net of taxes

Consolidated net earnings (loss)

(29)%

Segment revenues includes both revenues and other income related to the segment. Segment profit excludes results reported as discontinued operations, the portion of earnings attributable to noncontrolling interests of consolidated subsidiaries, 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 Appliances & Lighting; included in determining segment profit, which we sometimes refer to as "net earnings," for GE Capital. Certain corporate costs, such as shared services, employee benefits and information technology are allocated to our segments based on usage. A portion of the remaining corporate costs are allocated based on each segment's relative net cost of operations. Total industrial segment revenues and profit include the sum of our seven industrial reporting segments without giving effect to the elimination of transactions among such segments. Total segment revenues and profit include the sum of our seven industrial segments and one financial services segment, without giving effect to the elimination of transactions among such segments. We believe that this provides investors with a view as to the results of all of our segments, without inter-segment eliminations and corporate items.

ADDITIONAL INFORMATION (UNAUDITED)

Commercial Lending and Leasing (CLL)

Consumer

10,822

(15)%

Energy Financial Services

(35)%

GE Capital Aviation Services (GECAS)

16,637

(11)%

GECC corporate items and eliminations

(1,521)

(63)%

(7,245)

CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)

September 30,

December 31,

(Dollars in billions)

Assets

Cash & marketable securities

Receivables

Inventories

GECC financing receivables - net

Property, plant & equipment - net

Investment in GECC

Goodwill &...


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