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70 GE 2010 ANNUAL REPORT
audited financial statements
Statement of Cash Flows
General Electric Company
and consolidated affiliates
For the years ended December 31 (In millions) 2010 2009 2008
CASH FLOWS—OPERATING ACTIVITIES
Net earnings $ 12,179 $ 11,225 $ 18,051
Less net earnings attributable to noncontrolling interests 535 200 641
Net earnings attributable to the Company 11,644 11,025 17,410
(Earnings) loss from discontinued operations 979 (82) 617
Adjustments to reconcile net earnings attributable to the
Company to cash provided from operating activities
Depreciation and amortization of property, plant and equipment 10,013 10,619 11,481
Earnings from continuing operations retained by GECS — — —
Deferred income taxes 1,046 (2,793) (1,282)
Decrease (increase) in GE current receivables (126) 3,273 (24)
Decrease (increase) in inventories 342 1,101 (719)
Increase (decrease) in accounts payable 805 (439) (1,063)
Increase (decrease) in GE progress collections (1,177) (500) 2,827
Provision for losses on GECS financing receivables 7,191 10,627 7,233
All other operating activities 5,075 (8,433) 11,214
Cash from (used for) operating activities—continuing operations 35,792 24,398 47,694
Cash from (used for) operating activities—discontinued operations 331 19 959
CASH FROM (USED FOR) OPERATING ACTIVITIES 36,123 24,417 48,653
CASH FLOWS—INVESTING ACTIVITIES
Additions to property, plant and equipment (9,800) (8,634) (16,010)
Dispositions of property, plant and equipment 7,208 6,478 10,954
Net decrease (increase) in GECS financing receivables 25,010 42,917 (17,143)
Proceeds from sales of discontinued operations 2,510 — 5,423
Proceeds from principal business dispositions 3,062 9,978 4,986
Payments for principal businesses purchased (1,212) (7,842) (28,110)
Capital contribution from GE to GECS — — —
All other investing activities 7,703 (2,070) 6,168
Cash from (used for) investing activities—continuing operations 34,481 40,827 (33,732)
Cash from (used for) investing activities—discontinued operations (2,045) 1,551 (1,036)
CASH FROM (USED FOR) INVESTING ACTIVITIES 32,436 42,378 (34,768)
CASH FLOWS—FINANCING ACTIVITIES
Net increase (decrease) in borrowings (maturities of 90 days or less) (1,228) (26,115) (48,511)
Net increase (decrease) in bank deposits 4,603 (3,784) 20,623
Newly issued debt (maturities longer than 90 days) 47,642 82,838 116,624
Repayments and other reductions (maturities longer than 90 days) (100,154) (85,016) (68,993)
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 (1,263) 623 (1,249)
Dividends paid to shareowners (4,790) (8,986) (12,408)
Capital contribution from GE to GECS — — —
Purchases of subsidiary shares from noncontrolling interests (2,633) — —
All other financing activities (3,647) (3,204) (1,862)
Cash from (used for) financing activities—continuing operations (61,470) (43,644) 19,195
Cash from (used for) financing activities—discontinued operations (116) 131 (59)
CASH FROM (USED FOR) FINANCING ACTIVITIES (61,586) (43,513) 19,136
Effect of exchange rate changes on cash and equivalents (333) 795 (685)
Increase (decrease) in cash and equivalents 6,640 24,077 32,336
Cash and equivalents at beginning of year 72,444 48,367 16,031
Cash and equivalents at end of year 79,084 72,444 48,367
Less cash and equivalents of discontinued operations at end of year 126 1,956 255
Cash and equivalents of continuing operations at end of year $ 78,958 $ 70,488 $ 48,112
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Cash paid during the year for interest $ (17,132) $(19,601) $(25,853)
Cash recovered (paid) during the year for income taxes (2,671) (2,535) (3,237)
See accompanying notes.