GE 2006 Annual Report Download - page 74

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  
Statement of Cash Flows
General Electric Company
and consolidated affi liates
For the years ended December 31 (In millions) 2006 2005 2004
CASH FLOWS — OPERATING ACTIVITIES
Net earnings $ 20,829 $ 16,711 $ 17,160
Loss (earnings) from discontinued operations (163) 1,950 (559)
Adjustments to reconcile net earnings to cash provided from operating activities
Depreciation and amortization of property, plant and equipment 9,158 8,537 8,348
Net earnings retained by GECS — — —
Deferred income taxes 1,950 (940) 51
Decrease (increase) in GE current receivables (2,152) (974) (1,617)
Decrease (increase) in inventories (1,779) (578) (468)
Increase (decrease) in accounts payable (119) 245 3,756
Increase (decrease) in GE progress collections 926 510 (464)
Provision for losses on GECS financing receivables 3,839 3,841 3,888
All other operating activities 530 3,362 777
Cash from operating activities — continuing operations 33,019 32,664 30,872
Cash from (used for) operating activities — discontinued operations (2,373) 5,027 5,621
CASH FROM OPERATING ACTIVITIES 30,646 37,691 36,493
CASH FLOWS — INVESTING ACTIVITIES
Additions to property, plant and equipment (16,650) (14,381) (12,936)
Dispositions of property, plant and equipment 6,799 6,027 5,839
Net increase in GECS financing receivables (38,134) (16,400) (14,668)
Proceeds from sales of discontinued operations 9,022 8,106 3,437
Proceeds from principal business dispositions 3,870 481 1,179
Payments for principal businesses purchased (11,652) (11,498) (18,703)
All other investing activities (4,274) (1,701) 5,080
Cash used for investing activities — continuing operations (51,019) (29,366) (30,772)
Cash used for investing activities — discontinued operations (383) (5,733) (7,651)
CASH USED FOR INVESTING ACTIVITIES (51,402) (35,099) (38,423)
CASH FLOWS — FINANCING ACTIVITIES
Net increase (decrease) in borrowings (maturities of 90 days or less) 4,582 (4,600) (1,558)
Newly issued debt (maturities longer than 90 days) 88,362 66,523 58,538
Repayments and other reductions (maturities longer than 90 days) (49,346) (53,133) (47,106)
Net dispositions (purchases) of GE shares for treasury (8,554) (4,844) 3,993
Dividends paid to shareowners (10,420) (9,352) (8,278)
All other financing activities (1,174) (1,128) (3,304)
Cash from (used for) financing activities — continuing operations 23,450 (6,534) 2,285
Cash from (used for) financing activities — discontinued operations (220) 415 2,309
CASH FROM (USED FOR) FINANCING ACTIVITIES 23,230 (6,119) 4,594
INCREASE (DECREASE) IN CASH AND EQUIVALENTS DURING YEAR 2,474 (3,527) 2,664
Cash and equivalents at beginning of year 11,801 15,328 12,664
Cash and equivalents at end of year 14,275 11,801 15,328
Less cash and equivalents of discontinued operations at end of year — 2,976 3,267
Cash and equivalents of continuing operations at end of year $ 14,275 $ 8,825 $ 12,061
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Cash paid during the year for interest $(18,254) $(16,446) $(11,907)
Cash recovered (paid) during the year for income taxes (2,869) (3,254) (1,339)
The notes to consolidated financial statements are an integral part of this statement.
72 ge 2006 annual report