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General Electric Company (GE), incorporated in 1892, is a diversified technology and financial services company. The products and services of the Company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. It serves customers in more than 100 countries. Effective January 28, 2011, it held a 49% interest in a media company that includes the NBC Universal businesses. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. Effective January 1, 2011, it reorganized the Technology Infrastructure segment into three segments: Aviation, Healthcare and Transportation. In April 2012, GE Healthcare acquired SeqWright, Inc. In May 2012, GE Healthcare, the healthcare business of GE, acquired Xcellerex, Inc., a supplier of manufacturing technologies for the biopharmaceutical industry. In June 2012, GE Healthcare acquired XPRO, a Brazilian Interventional X-ray equipment manufacturer company. In August 2012, it acquired PRESENS.
On January 28, 2011, the Company transferred the assets of its NBC Universal (NBCU) business and Comcast Corporation (Comcast) transferred certain of its assets to a NBCUniversal LLC (NBCU LLC). On February 1, 2011, it acquired Dresser, Inc. On February 4, 2011, the Company acquired Wellstream PLC. On March 2, 2011, GE acquired Lineage Power Holdings, Inc. On April 26, 2011, the Company acquired the Well Support division of John Wood Group PLC. In August 2011, the Company acquired Commtest. On September 2, 2011, it acquired Converteam. During the year ended December 31, 2011, the Company completed the sale of its CLL marine container leasing business. On February 22, 2012, the Company merged its wholly owned subsidiary, General Electric Capital Services, Inc. (GECS), with and into GECS’ wholly owned subsidiary, General Electric Capital Corporation (GECC).
Energy Infrastructure is engaged in the development, implementation and improvement of products and technologies that harness resources, such as wind, oil, gas and water. The Company’s operations are located in North America, Europe, Asia, South America and Africa. Energy serves power generation, industrial, government and other customers worldwide with products and services related to energy production, distribution and management. It offers wind turbines as part of its renewable energy portfolio, which also includes solar technology. It also sells aircraft engine derivatives for use as industrial power sources. It sells gas turbines and generators that are used principally in power plants for generation of electricity and for industrial cogeneration and mechanical drive applications. This segment is a provider of Integrated Gasification Combined Cycle (IGCC) technology design and development. IGCC systems convert coal and other hydrocarbons into synthetic gas that, after cleanup, is used as the primary fuel for gas turbines in combined-cycle systems.
GE sells steam turbines and generators to the electric utility industry and to private industrial customers for cogeneration applications. Nuclear reactors, fuel and support services for both new and installed boiling water reactors are offered through joint ventures with Hitachi and Toshiba. In addition, the Company designs and manufactures motors and control systems used in industrial applications primarily for oil and gas extraction and mining. The Company provides its customers with total solutions to meet their needs through a complete portfolio of aftermarket services, including equipment upgrades, long-term maintenance service agreements, repairs, equipment installation, monitoring and diagnostics, asset management and performance optimization tools, remote performance testing and Dry Low NOx (DLN) tuning. Energy also offers water treatment solutions for industrial and municipal water systems, including the supply and related services of specialty chemicals, water purification systems, pumps, valves, filters and fluid handling equipment for improving the performance of water, wastewater and process systems, including mobile treatment systems and desalination processes.
Oil & Gas supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas (LNG) and pipeline compression, pipeline inspection, and including downstream processing in refineries and petrochemical plants. The business designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation and a portfolio of auxiliary equipment. The Company has over 40 service centers and workshops in oil and gas extraction and production regions. It also provides upgrades to customers’ machines.
Aviation is a provider of jet engines and related services with operations in North America, Europe, Asia and South America. Aviation produces, sells and services jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft. Its military engines are used in a range of aircraft, including fighters, bombers, tankers, helicopters and surveillance aircraft, as well as marine applications, and its commercial engines power aircraft in all categories of range: short/medium, intermediate and long-range, as well as executive and regional aircraft. The Company also produces and markets engines through CFM International.
Aviation also produces global aerospace systems and equipment, including airborne platform computing systems, power generation and distribution products, mechanical actuation products and landing gear, plus various engine components for use in both military and commercial aircraft. GE provides maintenance, component repair and overhaul services (MRO), including sales of replacement parts for many models of engines and repair and overhaul of engines manufactured. These MRO services are often provided under long-term maintenance contracts.
Healthcare is a provider of healthcare technologies to developed, developing and emerging countries. Its operations are located in North America, Europe, Asia and South America. Healthcare provides medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery and biopharmaceutical manufacturing technologies. With diagnostic imaging systems, such as magnetic resonance (MR), computed tomography (CT) and positron emission tomography (PET) scanners, X-ray, nuclear imaging, digital mammography, and Molecular Imaging technologies, Healthcare creates products that allow clinicians to see inside the human body. Medical diagnostics and life sciences products include diagnostic imaging agents used in medical scanning procedures, drug discovery, biopharmaceutical manufacturing and purification, and tools for protein and cellular analysis for pharmaceutical and academic research, including existing and a pipeline of precision molecular diagnostics in development for neurology, cardiology and oncology applications.
The Company’s product services include remote diagnostic and repair services for medical equipment manufactured by GE and by others, as well as computerized data management, information technologies and customer productivity services. Products and services are sold worldwide primarily to hospitals, medical facilities, pharmaceutical and biotechnology companies, and to the life science research market.
Transportation provides technology solutions for customers in a range of industries, including railroad, transit, mining, oil and gas, power generation and marine. It serves customers in more than 100 countries in North America, Europe, Asia, South America and Africa. Transportation manufactures high-horsepower diesel-electric locomotives, including the Evolution Series. It also offers drive technology solutions to the mining, transit, marine and stationary, and drilling industries. Its motors operate in a range of applications, from electrical drive systems for large haulage trucks used in the mining industry to transit cars and drilling rigs, and its engines are used for marine power, as well as stationary power generation applications.
Home & Business Solutions
Home & Business Solutions’ products, such as appliances and a subset of lighting products are primarily directed to consumer applications, while other lighting products and automation solutions are directed towards commercial and industrial applications. Appliances and Lighting sells and services home appliances, including refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. Brands are GE Monogram, GE Profile, GE, Hotpoint and GE Cafe. It manufactures certain products and also sources finished product and component parts from third-party global manufacturers. It offers original equipment manufacturer (OEM) service organizations, providing in-home repair and aftermarket parts. It also manufactures, sources and sells a variety of lamp products for commercial, industrial and consumer markets, including lines of incandescent, halogen, fluorescent, high-intensity discharge, light-emitting diode, automotive and miniature products. Intelligent Platforms provides plant automation, hardware, software and embedded computing systems, including advanced software, controllers, embedded systems, motion control, and operator interfaces. It has operations located in North America, Europe, Asia and Latin America.
GE Capital businesses offer a range of financial services and products worldwide for businesses of all sizes. Services include commercial loans and leases, fleet management, financial programs, home loans, credit cards, personal loans and other financial services. GE Capital also develops strategic partnerships and joint ventures. During 2011, GE Capital provided new financings in the United States to various companies, infrastructure projects and municipalities. Its operations are located in North America, South America, Europe, Australia and Asia.
CLL provides customers worldwide with a range of financing solutions. It offers collateralized loans, leases and other financial services to customers, including manufacturers, distributors and end users for a variety of equipment and capital assets. These assets include industrial-related facilities and equipment; vehicles; corporate aircraft, and equipment used in many industries, including the construction, manufacturing, transportation, media, communications, entertainment and healthcare industries.
Consumer, through consolidated entities and associated companies, is a provider of financial services to consumers and retailers. It offers a range of financial products to suit customers’ needs, including private-label credit cards, personal loans, bank cards, auto loans and leases, mortgages, debt consolidation, home equity loans, deposit and other savings products, and small and medium enterprise lending.
Real estate offers a range of capital and investment solutions, including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate worldwide. Its business finances, with both equity and loan structures, the acquisition, refinancing and renovation of office buildings, apartment buildings, retail facilities, hotels, parking facilities and industrial properties. The Company’s real estate loans are intermediate term, senior, fixed or floating-rate, and are secured by existing income-producing commercial properties. The Company invests in, and provides restructuring financing for, portfolios of commercial mortgage loans, limited partnerships and tax-exempt bonds.
Energy Financial Services offers equity, debt, leasing, partnership financing, project finance and broad-based commercial finance to the global energy and water industries. GE Commercial Aviation Services (GECAS) is engaged in commercial aircraft leasing and finance, delivering fleet and financing solutions to companies across the aviation industry. Its product offerings include leases and secured loans on commercial passenger aircraft, freighters and regional jets; engine leasing and financing solutions; aircraft parts solutions, and airport equity and debt financing. The Company also co-sponsors an infrastructure private equity fund, which invests in large infrastructure projects, including gateway airports.