GE 2005 Annual Report Download - page 27

(27)
(In millions; per-share amounts in dollars)
2005
(Restated)
2004
(Restated)
2003
(Restated)
2002
(Restated
2001
(Restated
GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES – AS RESTATED
Revenues $150,242 $ 134,999 $ 113,421 $ 111,967 $ 107,054
Earnings from continuing operations before accounting changes 18,633 16,626 14,091 14,629 12,620
Earnings (loss) from discontinued operations, net of taxes (1,922) 534 2,057 (616) 1,130
Earnings before accounting changes 16,711 17,160 16,148 14,013 13,750
Net earnings 16,711 17,160 15,561 12,998 13,463
Return on average shareowners’ equity(a) 17.8% 17.9% 20.0% 25.2% 24.1%
Per share
Earnings from continuing operations before accounting changes – diluted $1.76 $ 1.59 $ 1.40 $ 1.46 $ 1.26
Earnings before accounting changes – diluted 1.57 1.64 1.60 1.40 1.37
Net earnings – diluted 1.57 1.64 1.54 1.30 1.34
Earnings from continuing operations before accounting changes – basic 1.76 1.60 1.41 1.47 1.27
Earnings before accounting changes – basic 1.58 1.65 1.61 1.41 1.38
Net earnings – basic 1.58 1.65 1.55 1.31 1.36
GE DATA – AS RESTATED
Shareowners’ equity 109,351 110,908 79,662 63,979 55,019
Total capital invested $125,366 $ 129,644 $ 91,685 $ 74,763 $ 58,477
Return on average total capital invested(c) 16.6 % 16.2% 18.1% 24.0% 24.3%
Borrowings as a percentage of total capital invested(d) 8.1% 9.0% 11.9% 13.0% 4.3%
GECS DATA – AS RESTATED
Revenues $59,837 $ 53,412 $ 43,513 $ 38,456 $ 39,494
Earnings from continuing operations before accounting changes 9,499 8,194 6,256 4,122 4,078
Earnings before accounting changes 7,577 8,728 8,313 3,506 5,208
Net earnings 7,577 8,728 7,974 2,491 5,196
Shareowner’ s equity 50,812 54,379 45,790 37,202 28,785
Total assets of continuing operations 493,828 486,348 410,659 356,134 304,031
Total assets 540,584 618,614 554,877 489,602 425,493
Transactions between GE and GECS have been eliminated from the consolidated information.
(a) Return on Average Shareowners’ Equity – Earnings from continuing operations before accounting changes divided by average total shareowners’ equity, excluding
effects of discontinued operations (on an annual basis, calculated using a five-point average). Average total shareowners’ equity, excluding effects of discontinued
operations, as of the end of each of the years in the five-year period ended December 31, 2005, is described in the Supplemental Information section of Item 7.
(b) Excludes employees of Genworth in 2005 as a result of the third quarter deconsolidation.
(c) Return on Average Total Capital Invested – For GE, earnings from continuing operations before accounting changes plus the sum of after-tax interest and other
financial charges and minority interest, divided by the sum of the averages of total shareowners’ equity (excluding effects of discontinued operations), borrowings,
mandatorily redeemable preferred stock and minority interest (on an annual basis, calculated using a five-point average). Average total shareowners’ equity,
excluding effects of discontinued operations as of the end of each of the years in the five-year period ended December 31, 2005, is described in the Supplemental
Information section of Item 7.
(d) Borrowings as a Percentage of Total Capital Invested – For GE, the sum of borrowings and mandatorily redeemable preferred stock, divided by the sum of
borrowings, mandatorily redeemable preferred stock, minority interest and total shareowners’ equity.
(e) Working Capital – Sum of receivables from the sales of goods and services, plus inventories, less trade accounts payables and progress collections.