GE 2014 Annual Report Download - page 241

GE 2014 FORM 10-K 221
FINANCIAL STATEMENTS OPERATING SEGMENTS
NOTE 28. OPERATING SEGMENTS
BASIS FOR PRESENTATION
Our operating businesses are organized based on the nature of markets and customers. Segment accounting policies are the
same as described in Note 1. Segment results for our financial services businesses reflect the discrete tax effect of
transactions.
Results of our formerly consolidated subsidiary, NBCU, and our equity method investment in NBCU LLC, which we sold in the
first quarter of 2013 are reported in the Corporate items and eliminations line on the Summary of Operating Segments.
A description of our operating segments as of December 31, 2014, can be found below, and details of segment profit by
operating segment can be found in the Summary of Operating Segments table in “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” section in this Form 10-K Report.
POWER & WATER
Power plant products and services, including design, installation, operation and maintenance services are sold into global
markets. Gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls and related
services, including total asset optimization solutions, equipment upgrades and long-term maintenance service agreements are
sold to power generation and other industrial customers. Renewable energy solutions include wind turbines. Water treatment
services and equipment include specialty chemical treatment programs, water purification equipment, mobile treatment
systems and desalination processes.
OIL & GAS
Oil & Gas supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value
chain from drilling and completion through production, liquefied natural gas (LNG) and pipeline compression, pipeline
inspection, and including downstream processing in refineries and petrochemical plants. The business designs and
manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors,
turbines, turboexpanders, high pressure reactors, industrial power generation and a broad portfolio of auxiliary equipment.
ENERGY MANAGEMENT
Energy Management is GE’s electrification business. Global teams design leading technology solutions for the delivery,
management, conversion and optimization of electrical power for customers across multiple energy-intensive industries. GE
has invested in our Energy Management capabilities, with strategic acquisitions and joint ventures that enable GE to increase
its offerings to the utility, industrial, renewables, oil and gas, marine, metals and mining industries. Plant automation hardware,
software and embedded computing systems including controllers, embedded systems, advanced software, motion control,
operator interfaces and industrial computers are also provided by Energy Management.
AVIATION
Aviation products and services include jet engines, aerospace systems and equipment, replacement parts and repair and
maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers,
tankers and helicopters; for marine applications; and for executive and regional aircraft. Products and services are sold
worldwide to airframe manufacturers, airlines and government agencies.