GE 2005 Annual Report Download - page 71

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(71)
Statement of Financial Position (continued)
GE GECS
At December 31 (In millions, except share amounts)
2005
(Restated)
2004
(Restated)
2005
(Restated)
2004
(Restated)
ASSETS
Cash and equivalents $2,015 $3,155 $7,316
$9,191
Investment securities (note 10) 461 413
52,706
56,539
Current receivables (note 11) 15,058 14,533 –
–
Inventories (note 12) 10,315 9,589 159
189
Financing receivables – net (notes 13 and 14) –
–
287,639
282,699
Other GECS receivables –
–
19,060
14,965
Property, plant and equipment – net (note 15) 16,504 16,756
51,024
46,347
Investment in GECS 50,812 54,379 –
–
Intangible assets – net (note 16) 57,839 54,720
23,887
23,736
All other assets (note 17) 36,752 38,123
52,037
52,682
Assets of discontinued operations (note 2) –
–
46,756
132,266
Total assets $189,756 $191,668 $540,584
$618,614
LIABILITIES AND EQUITY
Short-term borrowings (note 18) $1,127 $3,409 $157,672
$154,292
Accounts payable, principally trade accounts 11,870 11,013
13,133
11,374
Progress collections and price adjustments accrued 4,456 3,937 –
–
Dividends payable 2,623 2,329 –
–
All other current costs and expenses accrued 18,436 17,569 –
–
Long-term borrowings (note 18) 9,081 7,625
204,397
201,209
Investment contracts, insurance liabilities
and insurance annuity benefits (note 19) –
–
45,722
48,393
All other liabilities (note 20) 23,273 23,561
17,453
19,300
Deferred income taxes (note 21) 3,733 3,616
12,579
11,692
Liabilities of and minority interest in
discontinued operations (note 2) –
–
36,568
113,073
Total liabilities 74,599 73,059
487,524
559,333
Minority interest in equity of consolidated
affiliates (note 22) 5,806 7,701 2,248
4,902
Common stock (10,484,268,000 and 10,586,358,000 shares
outstanding at year-end 2005 and 2004, respectively) 669 669 1
1
Accumulated gains (losses) – net
Investment securities 1,831 2,268 1,754
2,345
Currency translation adjustments 2,532 6,850 2,287
5,104
Cash flow hedges (352) (305) (343 ) (436)
Minimum pension liabilities (874) (657) (179 ) (150)
Other capital 25,227 24,265
12,386
12,370
Retained earnings 97,644 90,580
34,906
35,145
Less common stock held in treasury (17,326) (12,762) –
–
Total shareowners’ equity (notes 23 and 24) 109,351 110,908
50,812
54,379
Total liabilities and equity $189,756 $191,668 $540,584
$618,614
In the consolidating data on this page, “GE” means the basis of consolidation as described in note 1 to the consolidated financial statements; “GECS” means General
Electric Capital Services, Inc. and all of its affiliates and associated companies. Transactions between GE and GECS have been eliminated from the “General Electric
Company and consolidated affiliates” columns.