GE 2013 Annual Report Download - page 45

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’   
GE 2013 ANNUAL REPORT 43
were partially offset by the effects of the stronger U.S. dollar
($0.1 billion).
Oil & Gas orders increased 8% to $19.7 billion in 2013. Total
Oil & Gas backlog increased 27% to $18.8 billion at December 31,
2013, composed of equipment backlog of $13.0 billion and ser-
vices backlog of $5.8 billion. Comparable December 31, 2012
equipment and service order backlogs were $10.2 billion and
$4.5 billion, respectively.
ENERGY MANAGEMENT revenues of $7.6 billion increased $0.2 bil-
lion, or 2%, in 2013 as higher volume ($0.2 billion) was partially
offset by the effects of the stronger U.S. dollar ($0.1 billion).
Segment profi t of $0.1 billion decreased 16% in 2013 as a
result of lower productivity ($0.1 billion).
Energy Management revenues of $7.4 billion increased
$1.0 billion (including $1.0 billion from acquisitions), or 15%, in
2012 as higher volume ($1.1 billion), primarily driven by acqui-
sitions, higher prices ($0.1 billion) and increased other income
($0.1 billion) were partially offset by the effects of the stronger
U.S. dollar ($0.2 billion).
Segment profi t of $0.1 billion increased $0.1 billion, or 68%, in
2012 as a result of higher prices ($0.1 billion) and increased other
income ($0.1 billion).
Energy Management orders increased 12% to $8.8 billion
in 2013. Total Energy Management backlog increased 20% to
$4.6 billion at December 31, 2013, composed of equipment back-
log of $3.6 billion and services backlog of $1.0 billion. Comparable
December 31, 2012 equipment and service order backlogs were
$3.2 billion and $0.6 billion, respectively.
AVIATION revenues of $21.9 billion increased $1.9 billion (including
$0.5 billion from acquisitions), or 10%, in 2013 due primarily to
higher volume ($1.4 billion) and higher prices ($0.6 billion). Higher
volume and higher prices were driven by increased services
revenues ($0.7 billion) and equipment ($1.2 billion). The increase in
services revenue was primarily due to higher commercial spares
sales, while the increase in equipment revenue was primarily due
to increased commercial engine shipments.
Segment profi t of $4.3 billion increased $0.6 billion, or 16%,
in 2013 as higher prices ($0.6 billion), higher volume ($0.2 billion)
and increased other income ($0.1 billion) were partially offset
by the effects of infl ation ($0.2 billion) and lower productivity
($0.1 billion).
Aviation revenues of $20.0 billion increased $1.1 billion, or
6%, in 2012 due primarily to higher prices ($0.8 billion) and higher
volume ($0.4 billion), which were driven by increased commercial
and military engine sales.
Segment profi t of $3.7 billion increased $0.2 billion, or 7%, in
2012 as higher prices ($0.8 billion) and higher volume ($0.1 billion)
were partially offset by higher infl ation ($0.3 billion) and lower
productivity ($0.3 billion).
Aviation orders increased 16% to $27.2 billion in 2013. Total
Aviation backlog increased 22% to $125.1 billion at December 31,
2013, composed of equipment backlog of $28.4 billion and
services backlog of $96.7 billion. Comparable December 31, 2012
equipment and service order backlogs were $22.9 billion and
$79.5 billion, respectively.
HEALTHCARE revenues of $18.2 billion decreased $0.1 billion
in 2013. Revenues decreased as lower prices ($0.3 billion), the
effects of the stronger U.S. dollar ($0.2 billion) and lower other
income were partially offset by higher volume ($0.5 billion).
Segment profi t of $3.0 billion increased $0.1 billion, or 4%,
in 2013 as higher productivity ($0.6 billion), driven by SG&A cost
reductions, and higher volume ($0.1 billion) were partially offset
by lower prices ($0.3 billion), the effects of infl ation ($0.2 billion),
the stronger U.S. dollar ($0.1 billion) and lower other income.
Healthcare revenues of $18.3 billion increased $0.2 billion,
or 1%, in 2012 as higher volume ($0.8 billion) and other income
($0.1 billion) were partially offset by the stronger U.S. dollar
($0.4 billion) and lower prices ($0.3 billion). The revenue increase,
driven by higher equipment sales, is attributable to international
markets, with the strongest growth in emerging markets.
Segment profi t of $2.9 billion increased $0.1 billion, or 4%,
in 2012 as increased productivity ($0.4 billion), higher volume
($0.1 billion) and other income ($0.1 billion) were partially offset by
lower prices ($0.3 billion) and higher infl ation ($0.2 billion), primar-
ily non-material related.
Healthcare orders increased 1% to $19.2 billion in 2013. Total
Healthcare backlog increased 5% to $16.1 billion at December 31,
2013, composed of equipment backlog of $5.0 billion and ser-
vices backlog of $11.1 billion. Comparable December 31, 2012
equipment and service order backlogs were $4.5 billion and
$10.9 billion, respectively.
TRANSPORTATION revenues of $5.9 billion increased $0.3 billion,
or 5%, in 2013 due to higher volume ($0.3 billion) primarily
from acquisitions.
Segment profi t of $1.2 billion increased $0.1 billion, or 13%, in
2013 as a result of effects of material defl ation ($0.1 billion) and
higher volume and productivity.
Transportation revenues of $5.6 billion increased $0.7 billion,
or 15%, in 2012 due to higher volume ($0.6 billion) and higher
prices ($0.1 billion). The revenue increase was split between
equipment sales ($0.4 billion) and services ($0.3 billion). The
increase in equipment revenue was primarily driven by an
increase in U.S. locomotive sales and growth in our global mining
equipment business. The increase in service revenue was due to
higher overhauls and increased service productivity.
Segment profi t of $1.0 billion increased $0.3 billion, or 36%,
in 2012 as a result of higher volume ($0.1 billion), higher prices
($0.1 billion) and increased productivity ($0.1 billion), refl ecting
improved service margins.
Transportation orders decreased 8% to $5.1 billion in 2013.
Total Transportation backlog increased 3% to $14.9 billion
at December 31, 2013, composed of equipment backlog of
$2.5 billion and services backlog of $12.4 billion. Comparable
December 31, 2012 equipment and service order backlogs were
$3.3 billion and $11.1 billion, respectively.