GE 2005 Annual Report Download - page 104

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(104)
Note 11
GE Current Receivables
December 31 (In millions) 2005 2004
Infrastructure $6,827
$5,861
Industrial 2,255 2,230
Healthcare 2,947 2,862
NBC Universal 3,633 4,067
Corporate items and eliminations 154 251
15,816 15,271
Less allowance for losses (758) (738)
Total $ 15,058 $ 14,533
Receivables balances at December 31, 2005 and 2004, before allowance for losses, included $10,250 million and
$10,182 million, respectively, from sales of goods and services to customers, and $246 million at both December 31,
2005 and 2004, from transactions with associated companies.
Current receivables of $563 million and $435 million at December 31, 2005 and 2004, respectively, arose
from sales, principally of aircraft engine goods and services on open account to various agencies of the U.S.
government, our largest single customer. About 4% of our sales of goods and services were to the U.S. government
in 2005, 2004 and 2003.
Note 12
Inventories
December 31 (In millions) 2005 2004
GE
Raw materials and work in process $5,527
$5,042
Finished goods 5,152 4,806
Unbilled shipments 333 402
11,012 10,250
Less revaluation to LIFO (697) (661)
10,315 9,589
GECS
Finished goods 159 189
Total $ 10,474 $9,778
As of December 31, 2005, we were obligated to acquire certain raw materials at market prices through the year 2027
under various take-or-pay or similar arrangements. Annual minimum commitments under these arrangements are
insignificant.