GE 2006 Annual Report Download - page 55

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Summary of Operating Segments
(In millions) 2006
General Electric Company and consolidated affi liates
2005 2004 2003 2002
REVENUES
Infrastructure
Commercial Finance
GE Money
Healthcare
NBC Universal
Industrial
$ 47,429
23,792
21,759
16,562
16,188
33,494
$ 41,803
20,646
19,416
15,153
14,689
32,631
$ 37,373
19,524
15,734
13,456
12,886
30,722
$ 36,569
16,927
12,845
10,198
6,871
24,988
$ 40,119
15,688
10,266
8,955
7,149
26,154
Total segment revenues
Corporate items and eliminations
159,224
4,167
144,338
3,618
129,695
4,596
108,398
5,023
108,331
3,636
CONSOLIDATED REVENUES $163,391 $147,956 $134,291 $113,421 $111,967
SEGMENT PROFIT
Infrastructure
Commercial Finance
GE Money
Healthcare
NBC Universal
Industrial
$ 9,040
5,028
3,507
3,143
2,919
2,694
$ 7,769
4,290
3,050
2,665
3,092
2,559
$ 6,797
3,570
2,520
2,286
2,558
1,833
$ 7,362
2,907
2,161
1,701
1,998
1,385
$ 9,178
2,170
1,799
1,546
1,658
1,837
Total segment profit
Corporate items and eliminations
GE interest and other financial charges
GE provision for income taxes
26,331
(1,251)
(1,834)
(2,580)
23,425
(582)
(1,432)
(2,750)
19,564
(11)
(979)
(1,973)
17,514
375
(941)
(2,857)
18,188
847
(569)
(3,837)
Earnings from continuing operations before accounting changes
Earnings (loss) from discontinued operations, net of taxes
20,666
163
18,661
(1,950)
16,601
559
14,091
2,057
14,629
(616)
Earnings before accounting changes
Cumulative effect of accounting changes
20,829
—
16,711
—
17,160
—
16,148
(587)
14,013
(1,015)
CONSOLIDATED NET EARNINGS $ 20,829 $ 16,711 $ 17,160 $ 15,561 $ 12,998
The notes to consolidated financial statements are an integral part of this summary.
INFRASTRUCTURE
(In millions) 2006 2005 2004
REVENUES $47,429 $41,803 $37,373
SEGMENT PROFIT $ 9,040 $ 7,769 $ 6,797
(In millions) 2006 2005 2004
REVENUES
Aviation $13,152 $11,904 $11,094
Aviation Financial Services 4,177 3,504 3,159
Energy 19,133 16,525 14,586
Energy Financial Services 1,664 1,349 972
Oil & Gas 4,340 3,598 3,135
Transportation 4,169 3,577 3,007
SEGMENT PROFIT
Aviation $ 2,909 $ 2,573 $ 2,238
Aviation Financial Services 1,108 764 520
Energy 3,000 2,665 2,543
Energy Financial Services 695 646 376
Oil & Gas 548 411 331
Transportation 781 524 516
Infrastructure revenues rose 13%, or $5.6 billion, in 2006 on
higher volume ($4.8 billion), higher prices ($0.3 billion) and
effects of late 2006 weakening of the U.S. dollar ($0.1 billion) at
the industrial businesses in the segment. The increase in
volume reflected increased sales of power generation equipment
at Energy, commercial and military services and commercial
engines at Aviation, equipment at Oil & Gas, and locomotives at
Transportation. The increase in price was primarily at Energy.
Revenues also increased as a result of organic revenue growth
at Aviation Financial Services ($0.7 billion) and Energy Financial
Services ($0.3 billion). Intra-segment revenues, which increased
$0.5 billion, were eliminated from total Infrastructure revenues.
Segment profit rose 16% to $9.0 billion, compared with
$7.8 billion in 2005, as higher volume ($0.7 billion), higher prices
($0.3 billion) and productivity ($0.3 billion) more than offset the
effects of higher material and other costs ($0.4 billion) at the
industrial businesses in the segment. The increase in volume
primarily related to Energy and Aviation. Segment profit from the
financial services businesses increased as a result of core growth
at Aviation Financial Services ($0.3 billion), including growth in
lower-taxed earnings from global operations that were more than
offset by lower one-time benefits from our aircraft leasing business
reorganization, and core growth at Energy Financial Services.
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