GE 2014 Annual Report Download - page 56

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36 GE 2014 FORM 10-K
MD&A SEGMENT OPERATIONS | OIL & GAS
OPERATIONAL OVERVIEW
(Dollars in billions)
2014 GEOGRAPHIC REVENUES: $18.7 BILLION ORDERS
2014 SUB-SEGMENT REVENUES BACKLOG
EQUIPMENT/SERVICES REVENUES
SIGNIFICANT TRENDS & DEVELOPMENTS
x On June 2, 2014, we acquired Cameron’s Reciprocating Compression division for $0.6 billion. The division provides
reciprocating compression equipment and aftermarket services for oil and gas production, gas processing, gas distribution
and independent power industries.
x In July 2013, we completed the acquisition of Lufkin, a leading provider of artificial lift technologies for the oil and gas
industry and a manufacturer of gears, for $3.3 billion. Revenues for Lufkin are included in the D&S sub-segment.
x Relatively lower oil prices leading to reductions in customers’ forecasted capital expenditures create industry challenges,
the effects of which are uncertain.
x We are impacted by volatility in foreign currency exchange rates mainly due to a high concentration of non-U.S. dollar
denominated business as well as long-term contracts denominated in multiple currencies.
Equipment
Services
Equipment
Services
Services Equipment