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Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

General Electric Co., Consolidated Statement of Financial Position, Assets

USD $ in millions

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Cash and equivalents 43,299  48,129  70,483  90,208  88,555 
Investment securities 38,696  44,313  31,973  47,907  43,981 
Current receivables 24,438  24,076  27,022  23,237  21,388 
Inventories 21,923  22,354  22,515  17,689  17,325 
Financing receivables, net 10,336  12,242  12,052  224,816  241,940 
Other GE Capital receivables 6,301  5,944  6,782  9,095  9,114 
Current assets 144,993  157,058  170,827  412,952  422,303 
Property, plant and equipment, net 53,874  50,518  54,095  66,387  68,827 
Goodwill 83,968  70,438  65,526  76,553  77,648 
Other intangible assets, net 20,273  16,436  16,744  14,156  14,310 
Contract assets 28,861  25,162  21,156  13,990  12,522 
All other assets 29,614  27,178  37,470  54,235  58,286 
Deferred income taxes 6,207  1,833  3,105  2,541  275 
Assets of businesses held for sale 4,243  1,745  2,818  6,300  50 
Assets of discontinued operations 5,912  14,815  120,951  1,235  2,339 
Non-current assets 232,952  208,125  321,865  235,397  234,257 
Total assets 377,945  365,183  492,692  648,349  656,560 
Source: General Electric Co., Annual Reports
Item Description The company
Cash and equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. General Electric Co.'s cash and equivalents declined from 2015 to 2016 and from 2016 to 2017.
Investment securities Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. General Electric Co.'s investment securities increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Current receivables Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. General Electric Co.'s current receivables declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Inventories Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). General Electric Co.'s inventories declined from 2015 to 2016 and from 2016 to 2017.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. General Electric Co.'s current assets declined from 2015 to 2016 and from 2016 to 2017.
Property, plant and equipment, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. General Electric Co.'s property, plant and equipment, net declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. General Electric Co.'s non-current assets declined from 2015 to 2016 but then slightly increased from 2016 to 2017.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. General Electric Co.'s total assets declined from 2015 to 2016 but then slightly increased from 2016 to 2017.