The Annual Report Project

Topics: General Electric, Financial ratios, Balance sheet Pages: 11 (3453 words) Published: February 9, 2013
The Annual Report Project
General Electric Company (GE)

General Electric, short as GE, is a leading multi-industrial company involving in energy, appliance, finance and transportation businesses. It has more than 100 years of history, and generally be viewed as one of the most successful product and service providers across continents. GE has gross revenue of more than 147 billion dollars, and is currently ranking No.6 in Fortune 500 U.S. by revenue.

A. Introduction

General Electric Company (GE) is a multinational conglomerate corporation headquartered in Fairfield, Connecticut, United States. Its core business contains four segments, including Energy, Finance, Technology infrastructure, and Consumer and Industrial.

GE was founded initially by Thomas Edison, and then merged with Thomson-Houston Electronic Company in 1892. It was one the original 12 companies that were included for Dow Jones Industrial Average calculation in 1896, and is the only one that still being listed as of today.

* Name of the Chief Executive Officer: Jeffrey R. Immelt
* Corporate Headquarters: 3135 Easton Turnpike, Fairfield, CT 06828 * Ending of last fiscal year: Dec 31, 2011
* Description of the company’s principle products or services: General Electronic contains four major business sectors. GE Energy is constructed by two major departments. The Oil &Gas department is a drill solution and refinery service provider, and the power department is one of the leading manufactures in designing and producing innovative, reliable, efficient, and high-performance jet engines. GE Technology Infrastructure is a business group dealing with machine production for healthcare and transportation. GE Capital is the financial service provider primarily focuses on loans and leases that it underwrites to hold on its own balance sheet rather than on generating fee by originating loans and leases. GE Home & Business Solutions is another GE major business unit composed of intelligent platforms department and lighting department. The intelligent platforms are involving in producing next generation hardware and software for industrial control, and lighting department mainly engaged in home appliance production and maintenance. * Main geographic area of activity (in order of revenue significance): United States, Canada, Europe, Asia, Australia, Africa. * Name of Company’s independent accountants (KPMG LLP). Base on the analysis of independent auditor, the GE consolidated financial statements released to the public presented fairly, in a whole, the financial position of GE as the date of Dec 31, 2011 and 2010. Also, the statements of operations and cash flows for the three consecutive years from 2009 to 2011 are conformed to U.S. generally accepted accounting principles (GAAP). The independent accountants also declared that the GE maintained effective internal control over financial reporting as of Dec 31 2011, according to the criteria established in Internal Control-Integrated Framework issued by COSO. * The most recent price of company’s stock and its dividend per share The current price of GE stock is $20.62 as of Nov 20, 2012. The most recent dividend payment date was Oct 25, 2012 (record date was Sep 24, 2012) with amount per share of $0.17.

B. Industry Situation and Company Plans
GE Energy unit is a product and service provider across different energy industries, including coal, oil, natural gas, nuclear power and renewable energy like wind or solar energy. In general, global energy business experienced a boosting period in the past twenty years due to the economic rapid growth in Asia. Coal, Oil and natural gas are top 3 widely used fossil fuels in energy industry, accounting for 55% of total energy demands. GE Energy has the advantage of applying advanced technology from drilling and production, liquefied natural gas pipelines and storage to industrial power generation and it is the largest natural gas...
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