Company Information
ACCT 370 Excel Project
General Electric Co
Multinational Conglomerate
Asher Braatz
Company Name General Electric Co
Ticker Symbol GE
Industry Conglomerate - Aviation, Healthcare, Power and Renewable Energy
Products and Services Offered Aircraft engineers, Electrical Distribution, Electric Motors, Energy, Finance, Software
Major Competitors Bentley Systems, 3M, Siemens, Philips, Honeywell, Mitsubishi
Historical Income Statement
General Electric Co
Historical Income Statements
As on 2020, 2019 and 2018
In Millions
2020 2019 2018
Sales of goods $49,464.00 $58,949.00 60148
Sales of services 23,558.00 28,538.00 28,792.00
GE Capital revenues from services 6,597.00 7,728.00 8,072.00
Total revenues 79,619.00 95,215.00 97,012.00
Cost of goods sold 42,041.00 45,902.00 47,570.00
Cost of services sold 18,380.00 21,009.00 21,833.00
Selling, general and administrative expenses 12,621.00 13,949.00 14,643.00
Research and development 2,565.00 3,118.00 3,415.00
Interest and other financial charges 3,273.00 4,227.00 4,766.00
Insurance losses and annuity benefits 2,397.00 3,294.00 2,790.00
Goodwill impairments 1,717.00 1,486.00 22,136.00
Non-operating benefit costs 2,433.00 2,844.00 2,753.00
Other costs and expenses 382.00 458.00 414.00
Total costs and expenses 85,809.00 96,287.00 120,320.00
Other income 11,387.00 2,222.00 2,321.00
Earnings (loss) from continuing operations before income taxes 5,197.00 1,150.00 (20,987.00)
Benefit (provision) for income taxes 474.00 (726.00) (93.00)
Earnings (loss) from continuing operations 5,671.00 424.00 (21,080.00)
Earnings (loss) from discontinued operations, net of taxes (125.00) (5,335.00) (1,363.00)
Net earnings (loss) 5,546.00 (4,911.00) (22,443.00)
Less net earnings (loss) attributable to noncontrolling interests (158.00) 66.00 (89.00)
Net earnings (loss) attributable to the Company 5,704.00 (4,977.00) (22,354.00)
Prefe
ed stock dividends (474.00) (460.00) (447.00)
Net earnings (loss) attributable to GE common shareholders 5,230.00 (5,437.00) (22,801.00)
Amounts attributable to GE common shareholders
Earnings (loss) from continuing operations 5,672.00 423.00 (21,080.00)
Less net earnings (loss) attributable to noncontrolling interests,
continuing operations (158.00) 7.00 (90.00)
Earnings (loss) from continuing operations attributable to the Company 5,830.00 416.00 (20,990.00)
Prefe
ed stock dividends (474.00) (460.00) (447.00)
Earnings (loss) from continuing operations attributable to GE
common shareholders 5,356.00 (44.00) (21,437.00)
Earnings (loss) from discontinued operations, net of taxes (126.00) (5,335.00) (1,363.00)
Less net earnings (loss) attributable to noncontrolling interests,
discontinued operations - 0 58.00 1.00
Net earnings (loss) attributable to GE common shareholders $5,230.00 ($5,437.00) ($22,801.00)
Fields Using Formulas
Historical Balance Sheet
General Electric Co
Historical Balance Sheets
As on 2020, 2019 and 2018
In Millions
Assets 2020 2019 2018
Cash, cash equivalents and restricted cash $36,630.00 $35,811.00 $31,124.00
Investment securities 7,319.00 9,888.00 33,508.00
Cu
ent receivables 16,691.00 16,569.00 14,645.00
Financing receivables – net 1,265.00 1,077.00 7,699.00
Inventories, including defe
ed inventory costs 15,890.00 17,215.00 13,803.00
Other GE Capital receivables 3,331.00 2,635.00 7,143.00
Receivable from GE Capital - 0 - 0 - 0
Cu
ent contract assets 5,765.00 7,390.00 - 0
All other cu
ent assets 1,521.00 3,362.00 - 0
Assets of businesses held for sale - 0 9,149.00 1,629.00
Cu
ent assets 88,412.00 103,096.00 109,551.00
Investment securities 42,549.00 38,632.00 - 0
Financing receivables – net 1,771.00 2,057.00 - 0
Other GE Capital receivables 4,661.00 4,509.00 - 0
Property, plant and equipment – net 44,662.00 45,879.00 43,611.00
Receivable from GE Capital - 0 - 0
Goodwill 25,524.00 26,734.00 33,974.00
Other intangible assets – net 9,774.00 10,653.00 12,178.00
Contract and other defe
ed assets 5,888.00 5,737.00 17,431.00
All other assets 14,597.00 13,882.00 18,357.00
Defe
ed income taxes 12,081.00 9,889.00 12,117.00
Assets of discontinued operations 3,532.00 4,109.00 63,853.00
Total assets 253,451.00 265,177.00 311,072.00
Liabilities and Equity
Short-term bo
owings 4,778.00 23,641.00 12,776.00
Short-term bo
owings assumed by GE - 0 - 0 - 0
Accounts payable and equipment project accruals 16,476.00 17,357.00 13,826.00
Progress collections and defe
ed income 18,215.00 18,389.00 18,983.00
All other cu
ent liabilities 16,600.00 17,820.00 14,866.00
Liabilities of businesses held for sale - 0 1,658.00 708.00
Cu
ent liabilities 56,069.00 78,865.00 61,159.00
Defe
ed income 1,801.00 1,555.00 1,875.00
Long-term bo
owings 70,288.00 67,242.00 88,949.00
Long-term bo
owings assumed by GE - 0 - 0 - 0
Insurance liabilities and annuity benefits 42,191.00 39,826.00 35,562.00
Non-cu
ent compensation and benefits 29,752.00 31,687.00 31,926.00
All other liabilities 16,077.00 15,938.00 20,839.00
Liabilities of discontinued operations 200.00 203.00 19,281.00
Total liabilities 216,378.00 235,316.00 259,591.00
Prefe
ed stock (5,939,875 shares outstanding at both
December 31, 2020 and December 31, 2019) 6.00 6.00 6.00
Common stock (8,765,493,000 and 8,738,434,000 shares outstanding at December 31, 2020 and December 31, 2019, respectively) 702.00 702.00 702.00
Accumulated other comprehensive income (loss) – net attributable
to GE (9,749.00) (11,732.00) (14,414.00)
Other capital 34,307.00 34,405.00 35,503.00
Retained earnings 92,247.00 87,732.00 93,109.00
Less common stock held in treasury (81,961.00) (82,797.00) (83,925.00)
Total GE shareholders’ equity 35,552.00 28,316.00 30,981.00
Noncontrolling interests 1,521.00 1,545.00 20,500.00
Total equity 37,073.00 29,861.00 51,481.00
Total liabilities and equity $253,451.00 $265,177.00 $311,072.00
Fields Using Formulas
Historical Statement of Cash Fl
General Electric Co
Historical Statement of Cash Flows
As on 2020, 2019 and 2018
In Millions
2020 2019 2018
Net earnings (loss) $5,546.00 ($4,912.00) ($22,443.00)
(Earnings) loss from discontinued operations 125.00 5,335.00 1,363.00
Adjustments to reconcile net earnings (loss) to cash provided from
operating activities:
Depreciation and amortization of property, plant and equipment 4,636.00 4,026.00 4,419.00
Amortization of intangible assets 1,382.00 1,569.00 2,163.00
Goodwill impairments 1,718.00 1,486.00 22,136.00
(Gains) losses on purchases and sales of business interests (12,526.00) (53.00) (1,522.00)
(Gains) losses on equity securities 2,105.00 (693.00) (166.00)
Principal pension plans cost 3,559.00 3,878.00 4,226.00
Principal pension plans employer contributions (2,806.00) (298.00) (6,283.00)
Other postretirement benefit plans (net) (893.00) (1,228.00) (1,033.00)
Provision (benefit) for income taxes (474.00) 726.00 93.00
Cash recovered (paid) during the year for income taxes (1,441.00) (1,950.00) (1,404.00)
Changes in operating working capital:
Decrease (increase) in cu
ent receivables (1,319.00) (2,851.00) (358.00)
Decrease (increase) in inventories, including defe
ed inventory costs 1,105.00 (1,581.00) (573.00)
Decrease (increase) in cu
ent contract assets 1,631.00 891.00 751.00
Increase (decrease) in accounts payable and equipment project accruals (575.00) 2,674.00 666.00
Increase (decrease) in progress collections and cu
ent defe
ed income (216.00) 1,531.00 (563.00)
All other operating activities 2,040.00 1,869.00 1,739.00
Cash from (used for) operating activities – continuing operations 3,597.00 10,419.00 3,211.00
Cash from (used for) operating activities – discontinued operations - 0 (1,647.00) 1,767.00
Cash from (used for) operating activities 3,597.00 8,772.00 4,978.00
Additions to property, plant and equipment (3,252.00) (5,813.00) (6,627.00)
Dispositions of property, plant and equipment 1,644.00 3,718.00 4,093.00
Additions to internal-use software (151.00) (282.00) (320.00)
Net decrease (increase) in GE Capital financing receivables (20.00) 1,117.00 1,796.00
Proceeds from sale of discontinued operations - 0 5,864.00 29.00
Proceeds from principal business dispositions 20,596.00 4,683.00 8,425.00
Net cash from (payments for) principal businesses purchased (85.00) (68.00) (1.00)
Capital contribution from GE Industrial to GE Capital - 0 - 0 - 0
Sales of retained ownership interests 417.00 3,383.00 - 0
Net (purchases) dispositions of GE Capital investment securities (Note 3) (1,352.00) (1,616.00) 2,534.00
All other investing activities (1,019.00) (302.00) 8,996.00
Cash from (used for) investing activities – continuing operations 16,778.00 10,684.00 18,925.00
Cash from (used for) investing activities – discontinued operations (136.00) (1,745.00) (645.00)
Cash from (used for) investing activities 16,642.00 8,939.00 18,280.00
Net increase (decrease) in bo
owings (maturities of 90 days or less) (4,168.00) 280.00 (4,343.00)
Newly issued debt (maturities longer than 90 days) 15,028.00 2,185.00 3,120.00
Repayments and other reductions (maturities longer than 90 days) (29,876.00) (16,567.00) (20,319.00)
Capital contribution from GE Industrial to GE Capital - 0 - 0 - 0
Dividends paid to shareholders (648.00) (649.00) (4,474.00)
All other financing activities (189.00) (1,013.00) (1,329.00)
Cash from (used for) financing activities – continuing operations (19,853.00) (15,764.00) (27,345.00)
Cash from (used for) financing activities – discontinued operations 1.00 (369.00) (4,461.00)
Cash from (used for) financing activities (19,852.00) (16,133.00) (31,806.00)
Effect of cu
ency exchange rate changes on cash, cash equivalents
and restricted cash 144.00 (49.00) (628.00)
Increase (decrease) in cash, cash equivalents and restricted cash 531.00 1,529.00 (9,176.00)
Cash, cash equivalents and restricted cash at beginning of year 37,077.00 35,548.00 44,724.00
Cash, cash equivalents and restricted cash at end of year 37,608.00 37,077.00 35,548.00
Less cash, cash equivalents and restricted cash of
discontinued operations at end of year 523.00 638.00 4,424.00
Cash, cash equivalents and restricted cash of continuing operations at end of year $37,085.00 $36,439.00 $31,124.00
Fields Using Formulas
Phillips Histrocial Income Stat
Philips Group
Historical Income Statements
As on 2020, 2019 and 2018
In Millions
2020 2019 2018
Sales $19,535.00 $19,482.00 $18,121.00
Cost of sales (10,754.00) (10,607.00) (9,568.00)
Gross margin 8,781.00 8,875.00 8,553.00
Selling expenses (4,606.00) (4,682.00) (4,500.00)
General and administrative expenses (668.00) (631.00) (631.00)
Research and development expenses (1,915.00) (1,884.00) (1,759.00)
Other business income 123.00 155.00 88.00
Other business expenses (173.00) (188.00) (33.00)
Income from operations 1,542.00 1,645.00 1,718.00
Financial income 160.00 117.00 51.00
Financial expenses (204.00) (233.00) (264.00)
Investments in associates, net of income taxes (9.00) 1.00 (2.00)
Income before taxes 1,489.00 1,530.00 1,503.00
Income tax expense (284.00) (337.00) (193.00)
Income from continuing operations 1,205.00 1,193.00 1,310.00
Discontinued operations, net of income taxes (10.00) (19.00) (213.00)
Net income $1,195.00 $1,174.00 $1,097.00
Fields Using Formulas
Philips Historical Balance Shee
Philips Group
Historical Balance Sheets
As on 2020, 2019 and 2018
In Millions
Assets 2020 2019 2018
Non-cu
ent assets
Property, plant and equipment $2,682.00 $2,866.00 $1,712.00
Goodwill 8,014.00 8,654.00 8,503.00
Intangible assets excluding goodwill 2,997.00 3,466.00 3,589.00
Non-cu
ent receivables 230.00 178.00 162.00
Investments in associates 241.00 232.00 245.00
Other non-cu
ent financial assets 430.00 248.00 360.00
Non-cu
ent derivative financial assets 6.00 1.00 1.00
Defe
ed tax assets 1,820.00 1,865.00 1,828.00
Other non-cu
ent assets 66.00 47.00 47.00
Total non-cu
ent assets 16,486.00 17,557.00 16,447.00
Cu
ent assets
Inventories 2,993.00 2,773.00 2,674.00
Other cu
ent financial assets - 1.00 436.00
Other cu
ent assets 424.00 476.00 469.00
Cu
ent derivative financial assets 105.00 38.00 36.00
Income tax receivable 150.00 177.00 147.00
Cu
ent receivables 4,156.00 4,554.00 4,035.00
Assets classified as held for sale 173.00 15.00 87.00
Cash and cash equivalents 3,226.00 1,425.00 1,688.00
Total cu
ent assets 11,227.00 9,459.00 9,572.00
Total assets 27,713.00 27,016.00 26,019.00
Equity
Common shares 182.00 179.00 185.00
Reserves (340.00) 652.00 548.00
Other 12,028.00 11,766.00 11,355.00
Equity 11,870.00 12,597.00 12,088.00
Non-controlling interests 31.00 28.00 29.00
Group equity 11,901.00 12,625.00 12,117.00
Non-cu
ent liabilities
Long-term debt 5,705.00 4,939.00 3,427.00
Non-cu
ent derivative financial liabilities 86.00 124.00 114.00
Long-term