GE 2014 Annual Report Download - page 98

78 GE 2014 FORM 10-K
MD&A FINANCIAL RESOURCES AND LIQUIDITY
STATEMENT OF CASH FLOWS – OVERVIEW FROM 2012 THROUGH 2014
CONSOLIDATED CASH FLOWS
We evaluate our cash flow performance by reviewing our industrial (non-financial services) businesses and financial services
businesses separately. Cash from operating activities (CFOA) is the principal source of cash generation for our industrial
businesses. The industrial businesses also have liquidity available via the public capital markets. Our financial services
businesses use a variety of financial resources to meet our capital needs. Cash for financial services businesses is primarily
provided from the issuance of term debt and commercial paper in the public and private markets and deposits, as well as
financing receivables collections, sales and securitizations.
GE CASH FLOWS
OPERATING CASH FLOWS INVESTING CASH FLOWS FINANCING CASH FLOWS
2012 2013 2014 2012 2013 2014 2012 2013 2014
With respect to GE CFOA, we believe that it is useful to supplement our GE Statement of Cash Flows and to examine in a
broader context the business activities that provide and require cash.
The most significant source of cash in GE CFOA is customer-related activities, the largest of which is collecting cash resulting
from product or services sales. See the Intercompany Transactions and Eliminations section for information related to
transactions between GE and GECC. The most significant operating use of cash is to pay our suppliers, employees, tax
authorities and others for a wide range of material and services. Dividends from GECC, including special dividends, represent
the distribution of a portion of GECC retained earnings, and are distinct from cash from continuing operations within the
financial services businesses. The amounts included in GE CFOA are the total dividends, including special dividends from
excess capital.