GENERAL ELECTRIC CO Revenue Disclosure
DISAGGREGATED EQUIPMENT | Years ended December 31 | ||||||||||||||||||||||||||||
AND SERVICES REVENUES(a) | 2018 | 2017 | 2016 | ||||||||||||||||||||||||||
(In millions) | Equipment Revenues | Services Revenues | Total Revenues | Equipment Revenues | Services Revenues | Total Revenues | Equipment Revenues | Services Revenues | Total Revenues | ||||||||||||||||||||
Power | $ | 12,296 | $ | 15,004 | $ | 27,300 | $ | 17,477 | $ | 17,401 | $ | 34,878 | $ | 17,359 | $ | 18,476 | $ | 35,835 | |||||||||||
Renewable Energy | 7,036 | 2,497 | 9,533 | 7,036 | 2,169 | 9,205 | 8,861 | 891 | 9,752 | ||||||||||||||||||||
Aviation | 11,499 | 19,067 | 30,566 | 10,215 | 16,797 | 27,013 | 11,357 | 14,883 | 26,240 | ||||||||||||||||||||
Oil & Gas | 9,251 | 13,608 | 22,859 | 7,188 | 9,992 | 17,180 | 6,083 | 6,855 | 12,938 | ||||||||||||||||||||
Healthcare | 11,422 | 8,363 | 19,784 | 10,771 | 8,246 | 19,017 | 10,206 | 8,006 | 18,212 | ||||||||||||||||||||
Transportation | 1,363 | 2,535 | 3,898 | 1,686 | 2,248 | 3,935 | 2,279 | 2,306 | 4,585 | ||||||||||||||||||||
Lighting | 1,630 | 93 | 1,723 | 1,887 | 55 | 1,941 | 4,583 | 179 | 4,762 | ||||||||||||||||||||
Total Industrial Segment Revenues | $ | 54,497 | $ | 61,167 | $ | 115,664 | $ | 56,260 | $ | 56,909 | $ | 113,168 | $ | 60,728 | $ | 51,596 | $ | 112,324 | |||||||||||
SUB-SEGMENT REVENUES | Years ended December 31 | ||||||||||
(In millions) | 2018 | 2017 | 2016 | ||||||||
Power(a) | |||||||||||
Gas Power Systems | $ | 5,186 | $ | 7,990 | $ | 7,594 | |||||
Steam Power Systems | 1,912 | 2,176 | 1,793 | ||||||||
Power Services | 11,793 | 12,930 | 13,748 | ||||||||
Other | 8,409 | 11,782 | 12,700 | ||||||||
Power revenues | $ | 27,300 | $ | 34,878 | $ | 35,835 | |||||
Renewable Energy | |||||||||||
Onshore Wind | $ | 8,258 | $ | 8,056 | $ | 8,576 | |||||
Offshore Wind | 447 | 296 | 249 | ||||||||
Hydro | 827 | 853 | 927 | ||||||||
Renewable Energy revenues | $ | 9,533 | $ | 9,205 | $ | 9,752 | |||||
Aviation | |||||||||||
Commercial Engines & Services | $ | 22,724 | $ | 19,709 | $ | 19,521 | |||||
Military | 4,103 | 3,991 | 3,585 | ||||||||
Systems & Other | 3,740 | 3,314 | 3,135 | ||||||||
Aviation revenues | $ | 30,566 | $ | 27,013 | $ | 26,240 | |||||
Oil & Gas | |||||||||||
Turbomachinery & Process Solutions (TPS) | $ | 5,999 | $ | 6,298 | $ | 6,525 | |||||
Oilfield Services (OFS) | 11,617 | 5,881 | 788 | ||||||||
Oilfield Equipment (OFE) | 2,641 | 2,661 | 3,541 | ||||||||
Digital Solutions | 2,603 | 2,340 | 2,084 | ||||||||
Oil & Gas revenues | $ | 22,859 | $ | 17,180 | $ | 12,938 | |||||
Healthcare | |||||||||||
Healthcare Systems | $ | 14,886 | $ | 14,460 | $ | 13,975 | |||||
Life Sciences | 4,898 | 4,557 | 4,237 | ||||||||
Healthcare revenues | $ | 19,784 | $ | 19,017 | $ | 18,212 | |||||
Transportation | |||||||||||
Locomotives | $ | 867 | $ | 1,309 | $ | 2,071 | |||||
Services | 2,087 | 1,888 | 1,853 | ||||||||
Mining | 571 | 387 | 334 | ||||||||
Other | 373 | 351 | 328 | ||||||||
Transportation revenues | $ | 3,898 | $ | 3,935 | $ | 4,585 | |||||
Lighting | |||||||||||
Current | $ | 980 | $ | 1,042 | $ | 1,044 | |||||
GE Lighting | 743 | 899 | 1,136 | ||||||||
Appliances | — | — | 2,582 | ||||||||
Lighting revenues | $ | 1,723 | $ | 1,941 | $ | 4,762 | |||||
Total industrial segment revenues | $ | 115,664 | $ | 113,168 | $ | 112,324 | |||||
Capital revenues(b) | 9,551 | 9,070 | 10,905 | ||||||||
Corporate items and eliminations | (3,600 | ) | (3,995 | ) | (3,760 | ) | |||||
Consolidated revenues(b) | $ | 121,615 | $ | 118,243 | $ | 119,469 | |||||
(a) | Upon completion of our announced reorganization, GE Gas Power will comprise Gas Power Systems and Power Services, while Power Portfolio will comprise Steam Power Systems (including services currently reported in Power Services) as well as Power Conversion and GE Hitachi Nuclear, which are reported within Other. |
(b) | Included $9,314 million, $8,886 million and $10,356 million for the years ended December 31, 2018, 2017 and 2016, respectively, of revenues at GE Capital outside of the scope of ASC 606. |
• | Equipment - total remaining performance obligation of $51,873 million of which 51%, 72% and 95% is expected to be satisfied within 1, 2 and 5 years, respectively, and the remaining thereafter. |
• | Service - total remaining performance obligation of $201,292 million of which 18%, 53%, 76% and 87% is expected to be recognized within 1, 5, 10 and 15 years, respectively, and the remaining thereafter. |
• | Contract modifications could affect both the timing to complete as well as the amount to be received as we fulfill the related remaining performance obligations. |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.