GE 2015 Annual Report Download - page 48

ABOUT GENERAL ELECTRIC
20 GE 2015 FORM 10-K
ABOUT GENERAL ELECTRIC
OUR BUSINESS AND HOW WE TALK ABOUT IT
We are a global digital industrial company, transforming industry with software-defined machines and solutions that are connected,
responsive and predictive. With products and services ranging from aircraft engines, power generation and oil and gas production
equipment to medical imaging, financing and industrial products, we serve customers in approximately 180 countries and employ
approximately 333,000 people worldwide. Since our incorporation in 1892, we have developed or acquired new technologies and
services that have considerably broadened and changed the scope of our activities.
OUR INDUSTRIAL OPERATING SEGMENTS
OUR FINANCIAL SERVICES OPERATING SEGMENT
Business, operation and financial overviews for our operating segments are provided in the Segment Operations section within the
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THE GE CAPITAL EXIT PLAN
On April 10, 2015, the Company announced a plan (the GE Capital Exit Plan) to create a simple, more valuable company by reducing
the size of its financial services businesses through the sale of most of the assets of GE Capital and aligning a smaller GE Capital with
*(¶VLQGXVWULDOJURZWK:HH[SHFWGE Capital to release approximately $35 billion in dividends to GE (subject to regulatory approval) as
a result of the sale of GE Capital assets. As of December 31, 2015, we are ahead of our plan, having signed agreements with buyers
for $157 billion of ending net investment (ENI), excluding liquidity of which $104 billion has closed. In addition, as part of our initiative to
reduce the size of our financial services businesses, we completed the split-off of our UHPDLQLQJLQWHUHVWLQ*(&DSLWDO¶V1RUWK$PHULFDQ
Retail Finance business, Synchrony Financial, to holders of GE common stock, which resulted in a $20.4 billion buyback of GE
common stock (671.4 million shares) in 2015. Combined with cash dividends of $4.3 billion, GE Capital returned about $25 billion to GE
in 2015. In connection with the GE Capital Exit Plan, we completed a legal reorganization of GE Capital that included a merger of GE
Capital into GE, a guarantee by GE of GE Capital debt, and an exchange of $36 billion of GE Capital debt for new GE notes. The result
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2015. We incurred charges of $22 billion related to these actions.
Given the progress of the GE Capital Exit Plan to date, we expect to largely complete that plan by the end of 2016 and are on track to
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Further information on these activities is described in the GE Capital ± GE Capital Exit Plan section of the MD&A and Note 1 to the
consolidated financial statements.
Power Energy Management Transportation
Renewable Energy Aviation Appliances & Lighting
Oil & Gas Healthcare
Capital
20 GE 2015 FORM 10-K