Stock Analysis on Net

General Electric Co. (NYSE:GE)

Common-Size Income Statement 

General Electric Co., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Sales of equipment 41.50 43.44 48.11 67.74 67.38
Sales of services 58.50 56.56 51.89 32.26 32.62
Sales of equipment and services 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of equipment sold -42.88 -41.34 -44.17 -57.57 -52.47
Cost of services sold -35.17 -34.11 -31.65 -25.17 -24.01
Cost of equipment and services sold -78.05% -75.45% -75.81% -82.74% -76.48%
Gross profit from sales 21.95% 24.55% 24.19% 17.26% 23.52%
Insurance revenues 5.25 4.01 4.37 9.03 8.83
Selling, general and administrative expenses -14.24 -17.37 -16.47 -17.28 -15.94
Separation costs -1.51 -1.32 0.00 0.00 0.00
Research and development -2.95 -3.82 -3.51 -3.51 -3.56
Operating earnings 8.49% 6.05% 8.58% 5.49% 12.84%
Interest and other financial charges -1.73 -2.18 -2.64 -4.48 -4.83
Debt extinguishment costs 0.00 -0.63 -9.18 0.00 0.00
Insurance losses, annuity benefits and other costs -4.47 -3.71 -3.40 -3.81 -4.29
Goodwill impairments 0.00 0.00 0.00 -2.35 -1.70
Non-operating benefit income (cost) 2.45 0.72 -2.51 -3.33 -3.25
Other income 11.04 1.67 3.97 15.59 2.54
Earnings (loss) from continuing operations before income taxes 15.78% 1.92% -5.18% 7.12% 1.31%
(Provision) benefit for income taxes -1.80 -0.65 0.40 0.65 -0.83
Earnings (loss) from continuing operations 13.98% 1.27% -4.78% 7.77% 0.48%
Earnings (loss) from discontinued operations, net of taxes 0.64 -0.87 -4.49 -0.17 -6.10
Net earnings (loss) 14.63% 0.40% -9.27% 7.59% -5.61%
Net (earnings) loss attributable to noncontrolling interests 0.06 -0.09 0.10 0.22 -0.08
Net earnings (loss) attributable to the Company 14.68% 0.31% -9.17% 7.81% -5.69%
Preferred stock dividends and other -0.46 -0.39 -0.33 -0.65 -0.53
Net earnings (loss) attributable to GE common shareholders 14.23% -0.09% -9.50% 7.16% -6.22%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating earnings The net result for the period of deducting operating expenses from operating revenues. General Electric Co. operating earnings as a percentage of sales of equipment and services decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Earnings (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. General Electric Co. earnings (loss) from continuing operations before income taxes as a percentage of sales of equipment and services increased from 2021 to 2022 and from 2022 to 2023.
Net earnings (loss) attributable to the Company The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. General Electric Co. net earnings (loss) attributable to the Company as a percentage of sales of equipment and services increased from 2021 to 2022 and from 2022 to 2023.