GE 2015 Annual Report Download - page 91

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MD&A SEGMENT OPERATIONS | CAPITAL
GE 2015 FORM 10-K 63
FINANCIAL OVERVIEW
(Dollars in billions)
SEGMENT REVENUES SEGMENT PROFIT (LOSS)(a)
(a) Interest and other financial charges and income taxes are
included in determining segment profit for the Capital
segment.
COMMENTARY: 2015 ± 2014
Capital revenues decreased by $0.5 billion, or 5%, primarily as a result of organic revenue declines, primarily due to lower ENI, lower
gains and higher impairments, partially offset by the effects of acquisitions and dispositions.
x Within Capital, Verticals revenues decreased by $0.7 billion, or 6%, as a result of organic revenue declines ($0.9 billion), lower
gains ($0.2 billion) and higher impairments ($0.1 billion), partially offset by the effects of acquisitions and dispositions ($0.5
billion).
x CLL revenues increased by $0.1 billion, or 6%, as a result of organic revenue growth ($0.1 billion), partially offset by
the effects of currency exchange.
x EFS revenues decreased by $0.7 billion, or 42%, as a result of organic revenue declines ($0.5 billion), lower gains
($0.3 billion) and higher impairments ($0.2 billion), partially offset by the effects of dispositions ($0.2 billion).
x GECAS revenues increased by $0.1 billion, or 1%, as a result of the effects of acquisitions ($0.3 billion), lower
impairments ($0.1 billion) and higher gains ($0.1 billion), partially offset by organic revenue declines ($0.4 billion).
x Insurance revenues decreased $0.1 billion as a result of organic revenue declines ($0.1 billion) and lower gains.
Capital net earnings decreased by $9.2 billion primarily due to charges associated with the GE Capital Exit Plan.
x Within Capital, Verticals net earnings increased by $0.1 billion, or 4%, as a result of lower equipment leased to others (ELTO)
impairments ($0.1 billion) related to our operating lease portfolio of commercial aircraft and the effects of acquisitions and
dispositions ($0.2 billion), partially offset by lower gains ($0.1 billion) and core decreases ($0.1 billion).
x CLL net earnings increased by $0.1 billion, or 18%, as a result of core increases of $0.1 billion, partially offset by the
effects of currency exchange.
x EFS net earnings decreased by $0.3 billion, or 78%, as a result of lower gains ($0.2 billion), core decreases ($0.1
billion) and higher impairments ($0.1 billion), partially offset by the effects of dispositions ($0.1 billion).
x GECAS net earnings increased by $0.3 billion, or 28%, as a result of ELTO impairments ($0.2 billion) related to our
operating lease portfolio of commercial aircraft, the effects of acquisitions ($0.1 billion) and higher gains, partially
offset by core decreases ($0.1 billion).
x Insurance net earnings decreased $0.1 billion as a result of core decreases ($0.1 billion) and lower gains.
Total Capital
Other Continuing
Verticals
Total Capital
Verticals
Other Continuing
GE 2015 FORM 10-K 63