GE 2015 Annual Report Download - page 72

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MD&A SEGMENT OPERATIONS | OIL & GAS
44 GE 2015 FORM 10-K
OPERATIONAL OVERVIEW
(Dollars in billions)
2015 GEOGRAPHIC REVENUES: $ 16.5 BILLION ORDERS
2015 SUB-SEGMENT REVENUES BACKLOG
EQUIPMENT/SERVICES REVENUES
SIGNIFICANT TRENDS & DEVELOPMENTS
x LRZHURLOSULFHVOHDGLQJWRUHGXFWLRQVLQFXVWRPHUV¶IRUHFDVWHGFDSLWDOH[SHQGLWXUHVFUHDWHLQGXVWU\FKDOOHQJHVWKHHIIHFWVRf 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.
x In November 2015, we completed the acquisition of Advantec group for $0.1 billion. The group, mainly based in Norway, provides
subsea intervention equipment and services to the oil and gas industry.
x The Distributed Power business that provides turbines for oil and gas applications was realigned from the Power segment to the Oil
& Gas segment.
x In June 2014, we acquirHG&DPHURQ¶V5HFLSURFDWLQJ&RPSUHVVLRQGLYLVLRQIRUELOOLRQ7KHGLYLVLRQSURYLGHVUHFLSURFDWLQJ
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. Results for Lufkin are included in the Surface sub-segment.
Equipment
Services
Equipment
Se
rvi
ces
Services Equipment
44 GE 2015 FORM 10-K