GE 2015 Annual Report Download - page 129
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MD&A SUPPLEMENTAL INFORMATION
GE 2015 FORM 10-K 101
INDUSTRIAL OPERATING + VERTICALS EARNINGS AND EPS
(Dollars in millions; except per share amounts) 2015 2014 2013
GE Capital earnings (loss) from continuing operations attributable
to GE common shareowners $ (7,983) $ 1,209 $ 401
Less: Verticals earnings(a) 1,666 1,608 1,410
Other Capital (9,649) (399) (1,009)
Industrial operating earnings $ 11,443 $ 9,705 $ 8,922
Verticals earnings(a) 1,666 1,608 1,410
Industrial operating earnings + Verticals earnings $ 13,109 $ 11,313 $ 10,332
Earnings (loss) per share - diluted(b)
Industrial operating EPS $ 1.14 $ 0.96 $ 0.87
Verticals EPS 0.17 0.16 0.14
Industrial operating + Verticals EPS $ 1.31 $ 1.12 $ 1.00
(a) Verticals include businesses expected to be retained (GECAS, Energy Financial Services, Commercial Lending and Leasing and run-off
insurance activities), including allocated corporate costs of $133 million, $233 million, and $233 million after tax for the years ended December
31, 2015, 2014 and 2013, respectively.
(b) Earnings per share amounts are computed independently. As a result, the sum of per-share amounts may not equal the total.
As described above, Verticals represents the GE Capital businesses that we expect to retain. We believe that presenting Industrial
operating + Verticals earnings-per-share amounts provides management and investors with a useful measure to evaluate the
performance of the businesses we expect to retain after the disposition of most of our financial services business.
See below for a graphic presentation of the reconciliation between GAAP EPS from continuing operations to the Industrial operating +
Verticals EPS.
INDUSTRIAL OPERATING + VERTICALS EARNINGS AND EPS(a)
GAAP Continuing EPS $0.17 $0.94 $0.74
(a) Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total.
Industrial
operating &
Verticals
$1.31
Non-operating
pension &
other Capital
$(1.14)
Industrial
operating &
Verticals
$1.12
Non-operating
pension &
other Capital
$(0.18)
Industrial
operating &
Verticals
$1.00
Non-operating
pension &
other Capital
$(0.27)
GE 2015 FORM 10-K 101