GE 2008 Annual Report Download - page 54

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52 ge 2008 annual report
audited financial statements
Statement of Financial Position
General Electric Company
and consolidated affiliates
At December 31 (In millions, except share amounts) 2008 2007
ASSETS
Cash and equivalents $ 48,187 $ 15,731
Investment securities (Note 9) 41,446 45,276
Current receivables (Note 10) 21,411 22,259
Inventories (Note 11) 13,674 12,897
Financing receivables— net (Notes 12 and 13) 365,168 376,123
Other GECS receivables 13,439 16,514
Property, plant and equipment —net (Note 14) 78,530 77,888
Investment in GECS ——
Goodwill (Note 15) 81,759 81,116
Other intangible assets —net (Note 15) 14,977 16,142
All other assets (Note 16) 106,899 122,848
Assets of businesses held for sale (Note 17) 10,556 —
Assets of discontinued operations (Note 2) 1,723 8,889
Total assets $797,769 $795,683
LIABILITIES AND EQUITY
Short-term borrowings (Note 18) $193,695 $195,100
Accounts payable, principally trade accounts 20,819 21,338
Progress collections and price adjustments accrued 12,536 9,885
Dividends payable 3,340 3,100
Other GE current liabilities 18,220 15,816
Long-term borrowings (Note 18) 330,067 319,013
Investment contracts, insurance liabilities and insurance annuity benefits (Note 19) 34,032 34,068
All other liabilities (Note 20) 64,796 59,316
Deferred income taxes (Note 21) 4,584 12,490
Liabilities of businesses held for sale (Note 17) 636 —
Liabilities of discontinued operations (Note 2) 1,432 1,994
Total liabilities 684,157 672,120
Minority interest in equity of consolidated affiliates (Note 22) 8,947 8,004
Preferred stock (30,000 and 0 shares outstanding at year-end 2008 and 2007, respectively) ——
Common stock (10,536,897,000 and 9,987,599,000 shares outstanding at year-end 2008 and 2007, respectively) 702 669
Accumulated gains (losses) —net
Investment securities (3,094) 124
Currency translation adjustments (299) 10,708
Cash flow hedges (3,332) (668)
Benefit plans (15,128) (1,840)
Other capital 40,390 26,100
Retained earnings 122,123 117,362
Less common stock held in treasury (36,697) (36,896)
Total shareowners’ equity (Notes 23 and 24) 104,665 115,559
Total liabilities and equity $797,769 $795,683
The sum of accumulated gains (losses) on investment securities, currency translation adjustments, cash flow hedges and benefit plans constitutes “Accumulated other
comprehensive income,” as shown in Note 23, and was $(21,853) million and $8,324 million at December 31, 2008 and 2007, respectively.
See accompanying notes.