General Electric (GE) FY2012 results: revenue $127.9 billion, down 12.7% on the year
General Electric Co. (GE) reported revenue of $127.9 billion for fiscal 2012, the year ended 31 December 2012, down 12.7% on the year before. Net income was $13.6 billion, down 3.6%, and diluted earnings per share $10.32. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$127.9 billion
-12.7% on the year
FY2007FY2012
Operating margin
17.9%
14.1% a year earlier
FY2007FY2012
Net income
$13.6 billion
-3.6% on the year
FY2007FY2012
Diluted EPS
$10.32
+4.9% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
127,891
146,542
149,567
-12.7%
Cost of revenue
74,310
68,278
71,713
+8.8%
Gross profit
53,581
78,264
77,854
-31.5%
Gross margin
41.9%
53.4%
52.1%
Research and development
5,200
4,601
3,939
+13.0%
Selling, general and administrative
n/a
n/a
16,341
Operating income
22,887
20,652
17,246
+10.8%
Operating margin
17.9%
14.1%
11.5%
Interest expense
12,508
14,545
15,553
-14.0%
Pre-tax income
14,561
20,159
14,208
-27.8%
Income tax
2,526
5,745
1,039
-56.0%
Effective tax rate
17.3%
28.5%
7.3%
Net income
13,641
14,151
11,644
-3.6%
Net margin
10.7%
9.7%
7.8%
Diluted EPS
$10.32
$9.84
$8.48
+4.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
31,331
33,359
36,123
-6.1%
Capital expenditure
8,326
12,650
9,800
-34.2%
Free cash flow
23,005
20,709
26,323
+11.1%
Free cash flow margin
18.0%
14.1%
17.6%
Cash from investing
11,302
19,882
32,436
-43.2%
Cash from financing
-51,074
-46,863
-61,586
Depreciation and amortisation
10,804
10,730
9,786
+0.7%
Buybacks
-5,005
n/a
n/a
Dividends paid
7,189
6,458
4,790
+11.3%
Dividend per share
$5.60
$4.88
$3.68
+14.8%
Diluted shares, weighted
1,320m
1,324m
n/a
-0.3%
Shares outstanding at period end
1,301m
1,322m
1,327m
-1.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
123,026
116,438
118,936
+5.7%
Non-controlling interest
5,444
1,696
5,262
+221.0%
Redeemable equity
178
n/a
n/a
Deposits
46,200
43,115
37,298
+7.2%
Debt
367,599
410,328
441,300
-10.4%
Other liabilities
142,881
145,665
144,997
-1.9%
Total liabilities and equity
685,328
717,242
747,793
-4.4%
Fixed assets
68,633
65,739
66,214
+4.4%
Goodwill
58,762
72,297
64,473
-18.7%
Intangible assets
11,987
12,068
9,973
-0.7%
Loans
n/a
n/a
310,055
Cash and equivalents
n/a
84,501
78,958
Receivables
19,902
20,478
18,621
-2.8%
Inventory
15,374
13,792
11,526
+11.5%
Other assets
510,670
448,367
188,671
+13.9%
Total assets
685,328
717,242
748,491
-4.4%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.