GE 2015 Annual Report Download - page 3

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2016 GOALS
Operating EPS: $1.45–1.55 (Industrial + Verticals)
• Organic growth of 2–4%
• Core margin expansion
• Corporate @ $2.0–2.2B
• Alstom ~$0.05; Appliances gain ~$0.20
• Restructuring = gains
• FX impact ~$(0.02) at today’s rates
• High-teens Industrial tax rate
Free Cash Flow + Dispositions: $29–32B
• CFOA of $30–32B; ~$18B Capital dividend
• Dispositions of $3–4B
• Net P&E of ~$4B
Cash Returned to Investors: ~$26B
• Dividend of ~$8B
• Buyback of ~$18B
1
2
3
HOW WE PERFORMED
AGAINST OUR 2015 OPERATING GOALS
Target Actual Year-over-year
Operating Earnings Per Share1
Industrial $1.10–1.20 $1.14 19%
GE Capital Verticals ~$0.15 $0.17 6%
Operating Profit Margins1, 2
Industrial (incl. Corporate) 3 + 15.3% 110bps
GE Capital Exit Plan
Asset sales (Ending Net Investment
[excluding liquidity]) ~$90B $104B N/A
Cash
Free cash flow + dispositions1 $12–15B $15.2B 23%
Cash returned to investors $10–30B $33.0B $22B
1. Non-GAAP Financial Measure. See Financial Measures That Supplement U.S. Generally Accepted
Accounting Principles Measures (Non-GAAP Financial Measures) on page 95.
2. Excluding Alstom.
3. Excluding restructuring and other & gains.
JEFFREY R. IMMELT
Chairman of the Board
and Chief Executive
Officer
JEFFREY S. BORNSTEIN
Senior Vice President and
Chief Financial Officer
BETH COMSTOCK
Vice Chair
BILL RUH
Senior Vice President
and Chief Digital Officer
VIC ABATE
Senior Vice President
and Chief Technology Officer
KEITH S. SHERIN
Vice Chairman,
GE, and Chairman and
Chief Executive Officer,
GE Capital
JOHN G. RICE
Vice Chairman and
CEO, Global Growth
Organization
SUSAN P. PETERS
Senior Vice President,
Human Resources
ALEX DIMITRIEF
Senior Vice President
and General Counsel
GE 2015 A REPORT 1