GE 2014 Annual Report Download - page 154

134 GE 2014 FORM 10-K
FINANCIAL STATEMENTS
STATEMENT OF CASH FLOWS General Electric Company
and consolidated affiliates
For the years ended December 31 (In millions) 2014 2013  2012
Cash flows – operating activities
Net earnings $ 15,345 $ 13,355 $ 13,864
Less net earnings (loss) attributable to noncontrolling interests 112 298 223
Net earnin
g
s attributable to the Com
p
an
y
15
,
233 13
,
057 13
,
641
(Earnings) loss from discontinued operations 112 2,120 983
A
djustments to reconcile net earnings attributable to the
Company to cash provided from operating activities
Depreciation and amortization of property,
plant and equipment 9,283 9,762 9,192
Earnings from continuing operations retained by GECC - - -
Deferred income taxes
(
1,186
)
(
3,295
)
(
1,152
)
Decrease (increase) in GE current receivables
(
1,913
)
(
485
)
(
879
)
Decrease (increase) in inventories
(
872
)
(
1,368
)
(
1,274
)
Increase (decrease) in accounts payable 305 360
(
437
)
Increase (decrease) in GE progress collections
(
515
)
1,893
(
920
)
Provision for losses on GECC financing receivables 3,993 4,818 3,832
All other operating activities 3,075 2,175 8,029
Cash from
(
used for
)
o
p
eratin
g
activities – continuin
g
o
p
erations 27
,
515 29
,
037 31
,
015
Cash from (used for) operating activities – discontinued operations 195
(
458
)
316
Cash from
(
used for
)
o
p
eratin
g
activities 27
,
710 28
,
579 31
,
331
Cash flows – investing activities
A
dditions to property, plant and equipment
(
13,727
)
(
13,458
)
(
15,119
)
Dispositions of property, plant and equipment 6,262 5,883 6,184
Net decrease (increase) in GECC financing receivables
(
4,267
)
2,715 6,979
Proceeds from sale of discontinued operations 232 528 227
Proceeds from principal business dispositions 2,950 3,324 3,618
Proceeds from sale of equity interest in NBCU LLC - 16,699 -
Net cash from (payments for) principal businesses purchased
(
2,639
)
(
1,642
)
(
1,456
)
A
ll other investing activities 6,447 14,625 11,157
Cash from
(
used for
)
investin
g
activities – continuin
g
o
p
erations
(
4
,
742
)
28
,
674 11
,
590
Cash from (used for) investing activities – discontinued operations
(
288
)
443
(
288
)
Cash from
(
used for
)
investin
g
activities
(
5
,
030
)
29
,
117 11
,
302
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of
90 days or less)
(
6,112
)
(
14,230
)
(
2,231
)
Net increase (decrease) in bank deposits 13,286 2,197 2,450
Newly issued debt (maturities longer than 90 days) 37,548 45,392 63,019
Repayments and other reductions (maturities longer than 90 days)
(
53,380
)
(
61,461
)
(
103,942
)
Proceeds from issuance of GECC preferred stock - 990 3,960
Net dispositions (purchases) of GE shares for treasury
(
1,218
)
(
9,278
)
(
4,164
)
Dividends paid to shareowners
(
8,851
)
(
7,821
)
(
7,189
)
Proceeds from initial public offering of Synchrony Financial 2,842 - -
A
ll other financing activities
(
1,067
)
(
1,418
)
(
2,958
)
Cash from
(
used for
)
financin
g
activities – continuin
g
o
p
erations
(
16
,
952
)
(
45
,
629
)
(
51
,
055
)
Cash from (used for) financing activities – discontinued operations
(
6
)
56
(
19
)
Cash from
(
used for
)
financin
g
activities
(
16
,
958
)
(
45
,
573
)
(
51
,
074
)
Effect of currenc
y
exchan
g
e rate chan
g
es on cash and e
q
uivalents
(
3
,
492
)
(
795
)
1
,
278
Increase
(
decrease
)
in cash and e
q
uivalents 2
,
230 11
,
328
(
7
,
163
)
Cash and equivalents at beginning of year 88,787 77,459 84,622
Cash and e
q
uivalents at end of
y
ear 91
,
017 88
,
787 77
,
459
Less cash and equivalents of discontinued operations
at end of year 133 232 191
Cash and e
q
uivalents of continuin
g
o
p
erations at end of
y
ear $ 90
,
884 $ 88
,
555 $ 77
,
268
Supplemental disclosure of cash flows information
Cash paid during the year for interest $ (9,560) $ (8,988) $ (12,717)
Cash recovered (paid) during the year for income taxes (2,955) (2,487) (3,237)
See accompanying notes.