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64 GE 2009 ANNUAL REPORT
  
General Electric Company
and consolidated affiliates
For the years ended December 31 (In millions) 2009 2008 2007
CASH FLOWS — OPERATING ACTIVITIES
Net earnings $ 11,241 $ 18,051 $ 23,124
Less net earnings attributable to noncontrolling interests 216 641 916
Net earnings attributable to the Company 11,025 17,410 22,208
Loss from discontinued operations 193 679 249
Adjustments to reconcile net earnings attributable to the Company
to cash provided from operating activities
Depreciation and amortization of property, plant and equipment 10,636 11,492 10,275
Earnings from continuing operations retained by GECS — — —
Deferred income taxes (2,705) (1,284) 657
Decrease (increase) in GE current receivables 3,273 (24) (868)
Decrease (increase) in inventories 1,101 (719) (1,562)
Increase (decrease) in accounts payable (480) (1,078) (997)
Increase (decrease) in GE progress collections (500) 2,827 4,622
Provision for losses on GECS financing receivables 10,928 7,518 4,431
All other operating activities (Note 25) (8,747) 11,020 927
Cash from (used for) operating activities — continuing operations 24,724 47,841 39,942
Cash from (used for) operating activities — discontinued operations (131) 760 3,380
CASH FROM (USED FOR) OPERATING ACTIVITIES 24,593 48,601 43,322
CASH FLOWS — INVESTING ACTIVITIES
Additions to property, plant and equipment (8,634) (16,010) (17,803)
Dispositions of property, plant and equipment 6,479 10,975 8,457
Net decrease (increase) in GECS financing receivables 43,690 (17,484) (44,237)
Proceeds from sales of discontinued operations — 5,423 11,574
Proceeds from principal business dispositions 9,978 4,986 2,746
Payments for principal businesses purchased (6,130) (28,110) (17,215)
Capital contribution from GE to GECS — — —
All other investing activities (2,520) 5,695 (9,910)
Cash from (used for) investing activities — continuing operations 42,863 (34,525) (66,388)
Cash from (used for) investing activities — discontinued operations 134 (876) (3,116)
CASH FROM (USED FOR) INVESTING ACTIVITIES 42,997 (35,401) (69,504)
CASH FLOWS — FINANCING ACTIVITIES
Net increase (decrease) in borrowings (maturities of 90 days or less) (25,741) (48,454) 308
Net increase (decrease) in bank deposits (3,986) 20,623 2,144
Newly issued debt (maturities longer than 90 days) 82,959 116,569 100,528
Repayments and other reductions (maturities longer than 90 days) (85,178) (69,050) (49,874)
Proceeds from issuance of preferred stock and warrants — 2,965 —
Proceeds from issuance of common stock — 12,006 —
Net dispositions (purchases) of GE shares for treasury 623 (1,249) (12,319)
Dividends paid to shareowners (8,986) (12,408) (11,492)
Capital contribution from GE to GECS — — —
All other financing activities (3,204) (1,862) (1,204)
Cash from (used for) financing activities — continuing operations (43,513) 19,140 28,091
Cash from (used for) financing activities — discontinued operations — (4) (154)
CASH FROM (USED FOR) FINANCING ACTIVITIES (43,513) 19,136 27,937
INCREASE (DECREASE) IN CASH AND EQUIVALENTS 24,077 32,336 1,755
Cash and equivalents at beginning of year 48,367 16,031 14,276
Cash and equivalents at end of year 72,444 48,367 16,031
Less cash and equivalents of discontinued operations at end of year 184 180 300
Cash and equivalents of continuing operations at end of year $ 72,260 $ 48,187 $ 15,731
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Cash paid during the year for interest $(19,601) $ (25,853) $ (23,340)
Cash recovered (paid) during the year for income taxes (2,535) (3,237) (2,912)
See accompanying notes.
Statement of Cash Flows