ge 2005 annual report 2005 Big go 4 14 18 22 28 32 36 38 40 41 GE GE 8 10 20 2005 10 GE 11 150 1,500 134 114 108 GE 8 113 12 183 10 6 2 20 1 01 02 03 04 13.7 05 GE 14.4 5 5 216 42 1 14 GE GE 0.4 1.72 1.58 1.56 6 16.4 A 1.37 1.29 GE 540 50 GE 14 30 30 2005 01 02 03 04 2008 GE 2.9 2001 250 05 2005 10 S&P500 500 1.6 2005 140 IT 77 55 -1.4 S&P500 40 3 S&P500 GE S&P500 13 27 17 01 02 03 04 05 50 40 140 GE 4.9 55 12 17.7 40 10 2005 2,561 GE GE GE CEO CEC 20 6 40 GE GE GE GE 5 50 1 2000 GE GE GE GE GE 1 ecomagination SM 2005 GE GE GE GE GE GE 9 11 2006 10 8 GE 17 GE 10 GE GE 4 GE ANNUAL REPORT GE 25 2005 GE 20 2006 GE 35 GE 2005 12 14 GE 2005 1. 13 2005 CFMSM GE90SM GEnxSM 60 2. EvolutionSM 2006 GE 30 2005 810 3. 2005 3 15 GE 900 6 2005 210 10 6 10 3 GE 1990 1 2 GE 30 12 2006 10 15 100 GE GE GE ROE 2008 ROE 250 20 24 2005 20 18 8,500 GE 1. 10 ROTC 2000 20 4 2005 6 GE NBC 100 2 650 9 ROE20 2002 300 2 5 8 ROE 26 2006 10 15 GE GDP 2 3 GE ANNUAL REPORT 5 NBC GE 15 NBC 2005 21 ROE GE 2005 14 10 21 29 USA SCI FI 70 1 2005 NBC 1 30 5 2005 16 364 20 2 3 GE 2006 15 GE 10 2005 GE 13 17 GE 3 2006 1 NBC 10 GE B PIB PET 10 40 GE 6 2005 GE GE 2 GE IT 3 3 MonogramSM GE 225 ProfileSM GE IDX 3 20 60 GE 2006 10 15 6 GE ANNUAL REPORT 15 1 GE GE GE ROTC 20 2005 10 1 2 3 2002 GE GE 3 1 170 90 2001 GE 2005 GE 100 11 85 2005 2. 29 GE GE GE 12 8 GE 5 GE GE 2004 2005 11 8 2 GE Simplification 2004 11 8 60 GE IT 4 GE ANNUAL REPORT 7 GE GE One GE GE 5 2004 8 2 8 GE ANNUAL REPORT GE 140 GE GE Cleaner Coal 1 5,000 GE NPS GE NPS 200 GE NPS NPS GE NPS AEP GE GE GE GE90 GE GEnx GE 15 GE GE 50 1 5 GE 1 2005 2,000 GE GE 2005 2006 GE 60 4 GE 10 20 CEO GE GE GE 2010 17 2 15 21 168 117 70 30 2008 2012 1 GE ANNUAL REPORT 9 IBs GE 2005 100 2 2010 2005 200 2006 20 GE GE NBC 2004 1 GE 2 GE IBs 40 25 2005 100 GE GE GE 2005 16 780 GE GE GE 240 GE 250 20 1 GE GE 2005 80 2003 1 2 GE 10 Nuovo Pignone 50 GE 10 8 GE 11 1 GE 2005 2006 40 10 GE GE 2005 20 20 GE 5 2006 100 GE GE 3. GE 3 2 IBs 100 3 IBs 1 2003 25 2005 3 30 10 10 GE ANNUAL REPORT 1 Growth Traits 5 Growth Traits 4 1 C 1 3 GE GE 600 GE 20 GE GE GE GE GE GE GE GE CEO 1 GE GE GE GE 2 3 5 GE GE 1 1 1996 7,500 7 GE / GE 2005 5 2006 GE 30 GE GE ANNUAL REPORT 11 GE GE GE GE GE GE GE GE GE GE 2005 1 2005 GE GE GE GE GE Go Big GE GE A.G. GE 2005 2 GE CEO 3 GE 2 1 GE GE 3 GE GE GE GE Go Big! GE GE R 2006 2 GE 12 GE ANNUAL REPORT GE 2 10 Go Big GE GE 600 GE GE 10 GE S&P 13.5 500 GE 1899 9.1 30 14 GE ANNUAL REPORT ▼ 99 GE 1 GE GE ANNUAL REPORT 15 ▲ 25 100 1,500 GE 10 GE 16 GE ANNUAL REPORT 20 11 GE GE GE 18 GE ANNUAL REPORT ▼ GE 10 GE IT GE H CEO GE ANNUAL REPORT 19 ▼ 1994 FINSA GE 6,000 GE 4 5,000 1,100 GE ▲ GE SmartWater GE FINSA CEO V CEO 1 1 GE GE 22 GE ANNUAL REPORT 100 GE 6 ▼ 1986 CEO 4 Monogram 2 Profile CEO GE ANNUAL REPORT 23 ▲ 1978 GE X CT X GE ▼ 1997 GE 1 EMR 1998 2006 1 19 GE IT CEO ▲ 20 GE GE CEO 20 2005 IT CEO CEO ▼ GE 30 GE GEnx 10 2 30 ▲ 1992 GE GE GE CEO 1,200 6 5 2 2 GE Silwet® ▼ 1984 GE 21 5 GE 8 US 300 30 2 44 2 GE CEO US big GE GE 250 28 GE ANNUAL REPORT 2005 ▼ 10 GE 7,200 2 2001 78 GE 3 25.5 GE GE GE CEO GE CEO GE ANNUAL REPORT 29 ▲ GDP 2012 7 100 Power for All GE NTPC 200 GE 2010 10 GE IGCC GE 1 C P NTPC GE 30 GE ANNUAL REPORT 1 GE 32 GE ANNUAL REPORT ▼ GE IGCC GE 50 4 1 2 2 15 GE 2006 2010 200 2010 2 3 2010 4 5 GE GEnx GEnx 15 2008 90 H GE H 1 100 Evolution 40 GE ANNUAL REPORT 33 ▼ GE Healthcare Re-imagined GE early health GE Lightspeed® VCT™ GE Vivid i GE GE DTI GE ANNUAL REPORT 35 1 GE 2005 GE GE 2 1,500 100 GE 7,100 GE 3 GE GE 5,000 36 GE ANNUAL REPORT 8,200 ▼ GE 600 CEO W GE UNICEF 100 2,000 100 200 X 200 GE ©2005 UNICEF Pakistan/ Asad Zaidi GE ANNUAL REPORT 37 GE GE GE GE 3 15 2 11 2005 11 GE CEO GE 2005 8 3 12 1 2 GE GE 2 GE 2005 3 GE 2005 GE GE GE 2005 GE 2005 10 GE 2002 38 GE ANNUAL REPORT 404 3 1, 2, 3 X 4 2, 3 4 R CEO CEO 1998 2000 1993 I Jr. 1, 4 4 M 4 S E GE 2004 1997 A 4 M 4 C 1994 J 3 1, 2, 3 NBC P CEO 1 CEO 1999 2 3 4 5 1992 1 W 3, 4 B CEO 2005 2000 CEO 2000 2, 4 CEO G A DC 3 G 1997 CEO 2002 2, 3, 5 S 1 J S.C. CEO 2002 2002 GE ANNUAL REPORT 39 30 31 18 17 15 34 33 32 21 20 19 23 22 24 28 35 25 26 36 29 37 27 16 12 11 13 5 10 9 14 7 8 4 3 2 6 1 2 3 1. 13. R W 26. CEO 2. CEO L 14. GE GE CEO 15. A M GE GE 28. CEO 4. 16. CEO 29. CEO Jr. GE NBC CEO 17. G GE GE 18. M 19. GE CEO 30. R CEO 31. E C CEO CEO 6. H CEO GE 32. GE 20. G CEO 8. 33. CEO 22. GE S CEO CEO CEO 3 24. 36. A GE 40 GE ANNUAL REPORT 25. CEO K GE T GE M 37. 12. H 23. CEO B 34. 35. A CEO T 10. M GE CEO M / J H 21. 11. P M C 9. J NBC 3. 7. CEO 27. CEO 5. R GE M GE GE GE GE 350 10 2005 27 GE 2005 10 7 GE GE 1 3 CEO 2 1 CEO 2 GE Our Actions 2005 KPMG LLP KPMG LLP 405 563 2005 2005 KPMG LLP GE GE GE GE GE 31 30 R S GE GE ANNUAL REPORT 41 MANAGEMENT’S DISCUSSION AND ANALYSIS GE 6 NBC NBC GECS 2005 4 2005 4 23.4 CEO 19.6 CEO 18.2 16.8 17.5 NBC 01 144 130 101 108 108 NBC 01 42 GE ANNUAL REPORT 02 03 04 05 02 03 04 05 MANAGEMENT’S DISCUSSION AND ANALYSIS 12 2005 2004 2003 2002 2001 $ 41,803 32,631 15,153 14,689 20,646 19,416 $ 37,373 30,722 13,456 12,886 19,524 15,734 $ 36,569 24,988 10,198 6,871 16,927 12,845 $ 40,119 26,154 8,955 7,149 15,688 10,266 $ 36,419 26,101 8,409 5,769 14,610 9,508 144,338 5,364 129,695 4,786 108,398 4,488 108,331 5,525 100,816 6,742 $149,702 $134,481 $112,886 $113,856 $107,558 $ $ $ $ $ 31 NBC NBC GE GE 7,769 2,559 2,665 3,092 4,290 3,050 6,797 1,833 2,286 2,558 3,570 2,520 7,362 1,385 1,701 1,998 2,907 2,161 9,178 1,837 1,546 1,658 2,170 1,799 7,869 2,642 1,498 1,408 1,784 1,602 23,425 (968) (1,432) (2,750) 19,564 (327) (979) (1,973) 17,514 50 (941) (2,857) 18,188 2,016 (569) (3,837) 16,803 1,155 (817) (4,193) 18,275 (1,922) 16,285 534 13,766 2,057 15,798 (616) 12,948 1,130 16,353 — 16,819 — 15,823 (587) 15,182 (1,015) 14,078 (287) $ 16,353 $ 16,819 $ 15,236 $ 14,167 $ 13,791 GE ANNUAL REPORT 43 MANAGEMENT’S DISCUSSION AND ANALYSIS 2005 14% 51% 25% 10% 2005 252 GECS 2003 GECS 297 213 28 AFIG GECS GECS 100 a a GE 66 2005 58 2004 2005 2004 2003 $36,900 16,000 7,500 6,100 $32,400 13,000 7,000 5,700 $24,400 13,000 5,600 4,600 66,500 58,100 47,600 11,400 8,800 6,700 $77,900 $66,900 $54,300 2003 47 4 16 2003 543 48 44 2004 2005 2005 15 NBC 41 2004 2003 2003 1 779 2005 2004 2005 2004 35 30 2005 2004 1 20 2005 28 45 2005 2,994 GECS 2,619 2003 9 31 2 2005 30 9% 54% 417 NBC 21% VUE 2004 NBC 31 GE ANNUAL REPORT 1 127 2004 482 2004 27 44 25 2004 2005 Genpact 2004 2005 669 2004 2005 16% MANAGEMENT’S DISCUSSION AND ANALYSIS 12 2005 31 $149,702 18,275 (1,922) 16,353 — 16,353 9,647 17.6% a 2004 $134,481 16,285 534 16,819 — 16,819 8,594 17.6% 2003 $112,886 13,766 2,057 15,823 (587) 15,236 7,759 19.6% 2002 $113,856 15,798 (616) 15,182 (1,015) 14,167 7,266 27.2% 2001 $107,558 12,948 1,130 14,078 (287) 13,791 6,555 24.7% 1 $ 1.72 $ 1.56 $ 1.37 $ 1.58 $ 1.29 (0.18) 0.05 0.20 (0.06) 0.11 1.54 1.61 1.57 1.51 1.40 — — (0.06) (0.10) (0.03) 1.54 1.61 1.51 1.41 1.37 1.73 1.57 1.37 1.59 1.30 (0.18) 0.05 0.21 (0.06) 0.11 1.55 1.62 1.58 1.52 1.42 — — (0.06) (0.10) (0.03) 1.55 1.62 1.52 1.42 1.39 0.91 0.82 0.77 0.73 0.66 37.34–32.67 37.75–28.88 32.42–21.30 41.84–21.40 52.90–28.25 35.05 36.50 30.98 24.35 40.08 626,586 618,241 503,610 441,768 373,550 673,342 750,507 647,828 575,236 495,012 212,281 207,871 170,309 138,570 77,818 10,569,805 10,399,629 10,018,587 9,947,113 9,932,245 634,000 658,000 670,000 655,000 625,000 161,000 155,000 165,000 142,000 155,000 150,000 161,000 154,000 158,000 152,000 316,000 (b) 307,000 305,000 315,000 310,000 GE $ 1,127 9,081 5,806 109,354 $125,368 a a $ a 16.4% 8.1% 8,399 2,812 $ 3,409 7,625 7,701 110,821 $129,556 $ 16.0% 9.0% 8,328 2,427 $ 2,555 8,388 1,079 79,631 $ 91,653 $ 17.7% 11.9% 5,282 2,158 $ 8,786 970 1,028 64,079 $ 74,863 $ 25.8% 13.0% 3,821 2,386 $ 1,722 787 948 55,000 $ 58,457 24.9% 4.3% $ (2,398) 2,876 GECS $ 59,297 9,141 (1,922) 7,219 — 7,219 50,815 2,248 362,069 7.09:1 $493,849 540,605 GE GE $ 52,894 7,853 534 8,387 — 8,387 54,292 4,902 355,501 6.46:1 $486,238 618,504 $ 42,978 5,931 2,057 7,988 (339) 7,649 45,759 5,115 316,593 6.63:1 $410,653 554,871 $ 40,345 5,291 (616) 4,675 (1,015) 3,660 37,302 4,445 267,014 6.46:1 $356,352 489,820 $ 39,998 4,406 1,130 5,536 (12) 5,524 28,766 4,267 236,449 7.21:1 $304,011 425,473 GECS a Glossary b 2005 3 GE ANNUAL REPORT 45 AUDITED FINANCIAL STATEMENTS 12 2005 2004 2003 $ 59,837 32,752 1,683 — 55,430 $ 55,005 29,700 1,064 — 48,712 $ 49,963 22,391 602 — 39,930 149,702 134,481 112,886 46,169 20,645 15,187 5,474 3,841 35,271 986 42,645 19,114 11,656 3,583 3,888 33,096 728 37,189 14,017 10,460 3,069 3,752 26,480 308 127,573 114,710 95,275 22,129 (3,854) 19,771 (3,486) 17,611 (3,845) 18,275 (1,922) 16,285 534 13,766 2,057 16,353 — 16,819 — 15,823 (587) $ 16,353 $ 16,819 $ 15,236 $ $ $ 31 3 GECS GECS 4 5 14 8 1 1 9 1 1 1.72 1.73 1.56 1.57 1.37 1.37 1 1 1.54 1.55 1.61 1.62 1.57 1.58 1 1 1.54 1.55 1.61 1.62 1.51 1.52 $ 1 0.91 $ 0.82 $ 0.77 2005 2004 2003 $110,821 $ 79,631 $ 64,079 (13,249) 10,009 (5,520) 16,353 (437) (4,318) 401 (217) 16,819 412 3,936 435 (421) 15,236 710 5,061 226 (161) 23 1 12 46 1 31 GE ANNUAL REPORT 11,782 21,181 21,072 $109,354 $110,821 $ 79,631 STATEMENT OF EARNINGS GE 2004 2003 2005 2004 2003 $ 57,378 33,052 1,764 9,141 — $52,260 29,954 1,076 7,853 — $47,767 22,675 645 5,931 — $ 2,528 — — — 56,769 $ 2,840 — — — 50,054 $ 2,228 — — — 40,750 101,335 91,143 77,018 59,297 52,894 42,978 43,870 20,945 1,432 — — 13,279 784 39,999 19,368 979 — — 12,001 538 35,102 14,301 941 — — 9,870 181 2,369 — 14,308 5,674 3,841 22,658 202 2,741 — 11,121 3,800 3,888 21,788 190 2,119 — 9,897 3,069 3,752 17,095 127 80,310 72,885 60,395 49,052 43,528 36,059 21,025 (2,750) 18,258 (1,973) 16,623 (2,857) 10,245 (1,104) 9,366 (1,513) 6,919 (988) 18,275 (1,922) 16,285 534 13,766 2,057 9,141 (1,922) 7,853 534 5,931 2,057 16,353 — 16,819 — 15,823 (587) 7,219 — 8,387 — 7,988 (339) $ 16,353 $16,819 $15,236 $ 7,219 $ 8,387 $ 7,649 GE GE GECS 2005 1 GECS GECS GE ANNUAL REPORT 47 AUDITED FINANCIAL STATEMENTS 12 2005 2004 9,011 53,144 14,851 10,474 287,639 14,767 67,528 — 81,726 87,446 46,756 $ 12,152 56,923 14,233 9,778 282,699 11,340 63,103 — 78,456 89,557 132,266 $673,342 $750,507 $158,156 21,273 4,456 2,623 18,419 212,281 45,432 40,632 16,330 36,332 $157,195 19,137 3,937 2,329 17,539 207,871 48,076 42,779 15,285 112,935 555,934 627,083 8,054 12,603 669 669 1,831 2,532 (822) (874) 25,227 98,117 (17,326) 2,268 6,850 (1,223) (657) 24,265 91,411 (12,762) 31 $ 10 11 12 13 14 GECS 15 GECS 16 17 2 18 18 19 20 21 22 2005 104 8,426 23 8,000 2004 105 8,635 8,000 24 ( 2005 48 26 6,700 GE ANNUAL REPORT 2004 72 3,800 ) 23 109,354 110,821 $673,342 $750,507 STATEMENT OF FINANCIAL POSITION GE GECS 2005 $ 2,015 461 15,058 10,315 — — 16,504 50,815 57,839 36,752 — 2004 $ 3,155 413 14,533 9,589 — — 16,756 54,292 54,720 38,123 — 2005 $ 7,316 52,706 — 159 287,639 19,060 51,024 — 23,887 52,058 46,756 2004 $ 9,191 56,539 — 189 282,699 14,965 46,347 — 23,736 52,572 132,266 $189,759 $191,581 $540,605 $618,504 $ $ 3,409 11,013 3,937 2,329 17,569 7,625 — 23,561 3,616 — $157,672 13,133 — — — 204,397 45,722 17,453 12,597 36,568 $154,292 11,374 — — — 201,209 48,393 19,300 11,669 113,073 74,599 73,059 487,542 559,310 5,806 7,701 2,248 4,902 669 669 1 1 1,831 2,532 (822) (874) 25,227 98,117 (17,326) 2,268 6,850 (1,223) (657) 24,265 91,411 (12,762) 1,754 2,287 (813) (179) 12,386 35,379 — 2,345 5,104 (1,354) (150) 12,370 35,976 — 1,127 11,870 4,456 2,623 18,436 9,081 — 23,273 3,733 — 109,354 110,821 50,815 54,292 $189,759 $191,581 $540,605 $618,504 GE 1 GECS GE GECS GE ANNUAL REPORT 49 AUDITED FINANCIAL STATEMENTS 12 2005 31 GECS GE GE GECS GECS 90 90 90 50 GE ANNUAL REPORT 2004 2003 $ 16,353 1,922 $ 16,819 (534) $ 15,236 (2,057) — 8,538 — (1,121) (360) (578) 1,238 510 1,034 3,841 2,410 — 8,349 — (172) (849) (468) 4,090 (464) 1,959 3,888 (2,136) 587 6,864 — 1,206 534 874 232 (2,268) (729) 3,752 (2,391) 33,787 3,854 30,482 6,002 21,840 7,389 37,641 36,484 29,229 (14,441) 6,027 (16,954) (11,498) 6,535 (13,092) 5,838 (15,280) (18,703) 10,785 (9,751) 4,918 (4,687) (14,352) 7,974 (30,331) (4,718) (30,452) (7,962) (15,898) (5,945) (35,049) (38,414) (21,843) (4,600) 66,523 (53,133) (4,844) (9,352) (1,191) (1,558) 58,538 (47,106) 3,993 (8,278) (3,397) (20,559) 67,719 (43,479) 726 (7,643) 286 (6,597) 478 2,192 2,402 (2,950) (682) (6,119) 4,594 (3,632) (3,527) 15,328 2,664 12,664 3,754 8,910 11,801 2,790 15,328 3,176 12,664 2,734 $ 9,011 $ 12,152 $ 9,930 $(16,446) (3,254) $(11,907) (1,339) $(10,910) (1,539) STATEMENT OF CASH FLOWS GE 2004 2003 2005 $16,353 — $16,819 — $15,236 — $ 7,219 1,922 $ 8,387 (534) $ 7,649 (2,057) — 2,501 597 (287) (266) (608) 983 510 — — 1,826 — 2,533 (5,282) (175) (908) (459) 1,888 (464) — — 1,252 587 2,277 (4,553) 389 585 909 676 (2,268) — — (913) — 6,037 — (834) — 30 596 — 1,034 3,841 1,065 — 5,816 — 3 — (9) 2,927 — 1,959 3,888 (2,312) 339 4,587 — 817 — (35) 96 — (729) 3,752 (360) 21,609 — 15,204 — 12,925 — 20,910 3,854 20,125 6,002 14,059 7,389 21,609 15,204 12,925 24,764 26,127 21,448 (2,812) — — (4,331) 702 (2,427) — — (4,815) 632 (2,158) — — (3,870) 236 (11,629) 6,027 (16,954) (7,167) 4,644 (10,665) 5,838 (15,280) (13,888) 8,386 (7,593) 4,918 (4,687) (10,482) 6,103 (6,441) — (6,610) — (5,792) — (25,079) (4,718) (25,609) (7,962) (11,741) (5,945) (6,441) (6,610) (5,792) (29,797) (33,571) (17,686) (392) 1,704 (3,424) (4,844) (9,352) — (1,690) 434 (1,568) 3,993 (8,278) — (6,704) 7,356 (277) 726 (7,643) — (4,044) 65,054 (49,709) — (7,816) (1,191) 33 58,143 (45,538) — (3,105) (3,397) (13,487) 60,113 (43,202) — (3,435) 286 (16,308) — (7,109) — (6,542) — 2,294 478 6,136 2,402 275 (682) (16,308) (7,109) (6,542) 2,772 8,538 (407) (1,140) 3,155 1,485 1,670 591 1,079 (2,261) 12,367 1,094 11,273 3,355 7,918 2,015 — 3,155 — 1,670 — 10,106 2,790 12,367 3,176 11,273 2,734 $ 2,015 $ 3,155 $ 1,670 $ 7,316 $ 9,191 $ 8,539 $ $ $ $(15,518) (1,425) $(11,304) 922 $(10,662) 1,146 (928) (1,829) (603) (2,261) GE GE GECS 2005 (248) (2,685) 1 2004 2003 GECS GECS GE ANNUAL REPORT 51 2005 General Electric 2005 Annual Report 52 GE ANNUAL REPORT 1 40 42 48 49 52 53 61 64 69 General Electric Company Fairfield, Connecticut 06828 www.ge.com www.gejapan.com