GE 2015 Annual Report Download - page 76

MD&A SEGMENT OPERATIONS | ENERGY MANAGEMENT
48 GE 2015 FORM 10-K
FINANCIAL OVERVIEW
(Dollars in billions)
SEGMENT REVENUES SEGMENT PROFIT SEGMENT PROFIT MARGIN
(a) $6.6 billion, excluding $1.0 billion related to
A
lstom*
(a) $0.3 billion, excluding an insignificant
amount related to Alstom*
(a) 4.1%, excluding (0.5)% related to Alstom*
SEGMENT REVENUES & PROFIT WALK: COMMENTARY:
2015 ± 2014 2015 ± 2014
Segment revenues up $0.3 billion (4%);
Segment profit up (10%) as a result of:
x The increase in revenues was primarily due to higher sales at
Grid Solutions, driven by the effects of the Alstom acquisition,
and a gain on the sale of a meters business, partially offset by
the impact of a stronger U.S. dollar and lower volume at
Industrial Solutions.
x The increase in profit was primarily due to higher productivity,
including a reduction in SG&A, partially offset by the impact of
a stronger U.S. dollar.
Revenues Profit
2014 $ 7.3 $ 0.2
Volume (0.1) -
Price - -
Foreign Exchange (0.5) (0.1)
(Inflation)/Deflation N/A -
Mix N/A -
Productivity N/A 0.1
Other - -
Alstom 1.0 -
2015 $ 7.6 $ 0.3
2014 ± 2013 2014 ± 2013
Segment revenues down $0.3 billion (3%);
Segment profit up $0.1 billion as a result of:
x The decrease in revenues was primarily due to lower volume
from weakness in North American utility and electrical
distribution markets, partially offset by higher sales in Power
Conversion.
x The increase in profit was primarily due to higher productivity
reflecting a reduction in SG&A cost.
Revenues Profit
2013 $ 7.6 $ 0.1
Volume (0.2) -
Price - -
Foreign Exchange - -
(Inflation)/Deflation N/A -
Mix N/A -
Productivity N/A 0.1
Other - -
2014 $ 7.3 $ 0.2
*Non-GAAP Financial Measure
Equipment
Services
48 GE 2015 FORM 10-K