2016 Q4 Form 10-K Financial Statement

#000004054517000010 Filed on February 24, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $2.649B $29.27B $33.49B
YoY Change 2.48% 1000.23% 1145.13%
Cost Of Revenue $24.56B $5.711B $6.693B
YoY Change 0.09% 0.95% 20.75%
Gross Profit $7.027B $6.388B $6.192B
YoY Change -7.0% 1.8% 2.64%
Gross Profit Margin 265.27% 21.83% 18.49%
Selling, General & Admin $4.544B $4.343B $4.883B
YoY Change -4.8% 2.0% 11.36%
% of Gross Profit 64.66% 67.99% 78.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.356B $1.136B $1.294B
YoY Change 12.07% -10.2% 8.92%
% of Gross Profit 19.3% 17.78% 20.9%
Operating Expenses $5.420B $4.343B $4.883B
YoY Change -24.41% 2.0% 11.36%
Operating Profit $1.607B $2.045B $1.309B
YoY Change 316.32% 1.39% -20.57%
Interest Expense -$218.0M -$344.0M -$759.0M
YoY Change -22.7% 10.61% 161.72%
% of Operating Profit -13.57% -16.82% -57.98%
Other Income/Expense, Net $620.0M $227.0M $3.150B
YoY Change -45.37% 34.32% 303.85%
Pretax Income $2.893B $2.074B $3.824B
YoY Change 52.02% 1.17% 46.4%
Income Tax -$766.0M $18.00M $461.0M
% Of Pretax Income -26.48% 0.87% 12.06%
Net Earnings $3.667B $2.027B $2.908B
YoY Change -41.8% -19.11% -313.82%
Net Earnings / Revenue 138.43% 6.93% 8.68%
Basic Earnings Per Share $0.40 $0.22 $0.30
Diluted Earnings Per Share $0.39 $0.22 $0.30
COMMON SHARES
Basic Shares Outstanding 8.743B shares 8.904B shares 9.079B shares
Diluted Shares Outstanding 9.016B shares 9.187B shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.13B $52.53B $52.12B
YoY Change -31.72% -46.99% -43.14%
Cash & Equivalents $48.13B $52.53B $52.12B
Short-Term Investments
Other Short-Term Assets $1.000M
YoY Change -100.0%
Inventory $22.35B $24.12B $24.72B
Prepaid Expenses
Receivables $24.08B $25.19B $25.13B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $94.56B $101.8B $102.0B
YoY Change -21.21% -45.4% -42.59%
LONG-TERM ASSETS
Property, Plant & Equipment $50.52B $51.45B $50.44B
YoY Change -6.61% 1.48% -1.18%
Goodwill $70.44B $69.99B $67.10B
YoY Change 7.5% 13.51% 7.9%
Intangibles $16.44B $16.78B $16.65B
YoY Change -7.65% 23.21% 21.82%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $45.57B $58.75B $83.44B
YoY Change -72.16% -61.67% -56.04%
Total Long-Term Assets $264.6B $285.9B $299.5B
YoY Change -29.08% -27.6% -30.88%
TOTAL ASSETS
Total Short-Term Assets $94.56B $101.8B $102.0B
Total Long-Term Assets $264.6B $285.9B $299.5B
Total Assets $359.1B $387.7B $401.5B
YoY Change -27.17% -33.31% -34.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.44B $13.07B $13.12B
YoY Change 5.52% 11.1% 9.14%
Accrued Expenses $17.56B $20.23B $20.42B
YoY Change -25.57% 60.25% 63.33%
Deferred Revenue
YoY Change
Short-Term Debt $30.71B $31.57B $31.93B
YoY Change -38.4% -32.1% -52.93%
Long-Term Debt Due $23.63B $24.57B $24.67B
YoY Change -44.72% -47.16% -63.63%
Total Short-Term Liabilities $130.6B $133.0B $132.3B
YoY Change -15.42% -22.34% -31.79%
LONG-TERM LIABILITIES
Long-Term Debt $105.5B $117.9B $124.5B
YoY Change -28.59% -51.87% -49.82%
Other Long-Term Liabilities $48.59B $50.23B $54.89B
YoY Change -44.68% 11.25% 8.74%
Total Long-Term Liabilities $154.1B $168.1B $179.4B
YoY Change -34.59% -42.05% -39.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $130.6B $133.0B $132.3B
Total Long-Term Liabilities $154.1B $168.1B $179.4B
Total Liabilities $284.7B $301.1B $311.7B
YoY Change -27.0% -34.73% -36.73%
SHAREHOLDERS EQUITY
Retained Earnings $139.5B $138.2B $138.3B
YoY Change -0.35% 1.69% 1.88%
Common Stock $702.0M $702.0M $702.0M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.04B $79.85B $76.12B
YoY Change 30.69% 93.78% 83.21%
Treasury Stock Shares 2.951B shares
Shareholders Equity $70.16B $81.88B $84.99B
YoY Change
Total Liabilities & Shareholders Equity $365.2B $387.7B $401.5B
YoY Change -25.94% -33.31% -34.29%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $3.667B $2.027B $2.908B
YoY Change -41.8% -19.11% -313.82%
Depreciation, Depletion And Amortization $1.356B $1.136B $1.294B
YoY Change 12.07% -10.2% 8.92%
Cash From Operating Activities $1.629B $962.0M -$3.480B
YoY Change -75.85% 26.58% -155.27%
INVESTING ACTIVITIES
Capital Expenditures -$2.090B -$2.057B -$1.496B
YoY Change -16.47% 29.86% 605.66%
Acquisitions
YoY Change
Other Investing Activities $9.789B $11.79B $1.481B
YoY Change 341.14% -73.68% -88.54%
Cash From Investing Activities $7.699B $9.735B -$15.00M
YoY Change -2820.49% -77.48% -100.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.24B -11.42B -41.36B
YoY Change -45.75% -63.28% 295.21%
NET CHANGE
Cash From Operating Activities 1.629B 962.0M -3.480B
Cash From Investing Activities 7.699B 9.735B -15.00M
Cash From Financing Activities -14.24B -11.42B -41.36B
Net Change In Cash -4.910B -722.0M -44.85B
YoY Change -75.18% -105.6% -625.18%
FREE CASH FLOW
Cash From Operating Activities $1.629B $962.0M -$3.480B
Capital Expenditures -$2.090B -$2.057B -$1.496B
Free Cash Flow $3.719B $3.019B -$1.984B
YoY Change -59.79% 28.8% -130.49%

Facts In Submission

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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;' >Partial Sales of Business Interests</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Gains or losses on sales of affiliate shares where we retain a controlling financial interest are recor</font><font style='font-family:Arial;font-size:9pt;' >ded in equity. Gains or losses on sales that result in our loss of a controlling financial interest are recorded in earnings along with remeasurement gains or losses on any investments in the entity that we retained.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;' >INVESTMENT</font><font style='font-family:Arial;font-size:10pt;font-weight:bold;' > CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY BENEFITS</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Our run-off insurance activities include providing insurance and reinsurance for life and health risks and providing certain annuity products. Two primary product </font><font style='font-family:Arial;font-size:9pt;' >types</font><font style='font-family:Arial;font-size:9pt;' > are provided: traditional insurance contracts and investment contracts. Insurance contr</font><font style='font-family:Arial;font-size:9pt;' >acts are contracts with significant mortality and/or morbidity risks, while investment contracts are contracts without such risks.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >For short-duration insurance contracts, including accident and health insurance, we report premiums as earned income over th</font><font style='font-family:Arial;font-size:9pt;' >e terms of the related agreements, generally on a pro-rata basis. For traditional long-duration insurance contracts</font><font style='font-family:Arial;font-size:9pt;' >,</font><font style='font-family:Arial;font-size:9pt;' > including long-term care, term, whole life and annuities payable for the life of the annuitant, we report premiums as earned income when du</font><font style='font-family:Arial;font-size:9pt;' >e.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Premiums received on investment contracts (including annuities without significant mortality risk) are not reported as revenues but rather as deposit liabilities. We recognize revenues for charges and assessments on these contracts, mostly for mortalit</font><font style='font-family:Arial;font-size:9pt;' >y, contract initiation, administration and surrender. Amounts credited to policyholder accounts are charged to expense.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Liabilities for traditional long-duration insurance contracts represent the present value of such benefits less the present value of fu</font><font style='font-family:Arial;font-size:9pt;' >ture net premiums based on mortality, morbidity, interest and other assumptions at the time the policies were issued or acquired. Liabilities for investment contracts equal the account value, that is, the amount that accrues to the benefit of the contract </font><font style='font-family:Arial;font-size:9pt;' >or policyholder including credited interest and assessments through the financial statement date. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Liabilities for unpaid claims and estimated claim settlement expenses represent our best estimate of the ultimate obligations for reported and incurred-but-</font><font style='font-family:Arial;font-size:9pt;' >not-reported claims and the related estimated claim settlement expenses. Liabilities for unpaid claims and estimated claim settlement expenses are continually reviewed and adjusted through current operations.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;' >LOSSES ON FINANCING RECEIVABLES</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2016Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
427000000 USD
CY2016Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
-3094000000 USD
CY2016 ge Subsidiary Earnings From Continuing Operations
SubsidiaryEarningsFromContinuingOperations
0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
75828000000 USD
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.052 pure
CY2016Q4 ge Contract Asset
ContractAsset
25162000000 USD
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10057380000 shares
CY2016 ge Investment Contracts Insurance Losses And Insurance Annuity Benefits
InvestmentContractsInsuranceLossesAndInsuranceAnnuityBenefits
2797000000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1813000000 USD
CY2016 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
8806000000 USD
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.4
CY2015 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
109800000 shares
CY2015Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
700000000 USD
CY2014 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1115000000 USD
CY2016Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
1355000000 USD
CY2016 ge Financialservicesrevenuespolicytextblock
Financialservicesrevenuespolicytextblock
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;' >GE CAPITAL </font><font style='font-family:Arial;font-size:10pt;font-weight:bold;' >REVENUES FROM SERVICES (EARNED INCOME)</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We use the interest method to recognize income on loans. Interest on </font><font style='font-family:Arial;font-size:9pt;' >loans includes origination, commitment and other non-refundable fees related to funding (recorded in earned income on the interest method). We stop accruing interest at the earlier of the time at which collection of an account becomes doubtful or the accou</font><font style='font-family:Arial;font-size:9pt;' >nt becomes 90 days past due</font><font style='font-family:Arial;font-size:9pt;' >.</font><font style='font-family:Arial;font-size:9pt;' > Previously </font><font style='font-family:Arial;font-size:9pt;' >recognized interest income that was accrued but not collected from the borrower is reversed, unless the terms of the loan agreement permit capitalization of accrued interest to the principal balance.</font><font style='font-family:Arial;font-size:9pt;font-weight:bold;' > </font><font style='font-family:Arial;font-size:9pt;' >P</font><font style='font-family:Arial;font-size:9pt;' >ayments receive</font><font style='font-family:Arial;font-size:9pt;' >d </font><font style='font-family:Arial;font-size:9pt;' >on nonaccrual loans </font><font style='font-family:Arial;font-size:9pt;' >are applied to reduce the principal balance of the loan. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We resume accruing interest on nonaccrual, non-restructured commercial loans only when (a) payments are brought current according to the loan&#8217;s original terms and (b) future p</font><font style='font-family:Arial;font-size:9pt;' >ayments are reasonably assured. When we agree to restructured terms with the borrower, we resume accruing interest only when it is reasonably assured that we will recover full contractual payments, and such loans pass underwriting reviews equivalent to tho</font><font style='font-family:Arial;font-size:9pt;' >se applied to new loans. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We recognize financing lease income on the interest method to produce a level yield on funds not yet re</font><font style='font-family:Arial;font-size:9pt;' >covered. Estimated unguaranteed residual values are based upon management&#39;s best estimates of the value of the leased asset at the end of the lease term. We use various sources of data in determining </font><font style='font-family:Arial;font-size:9pt;' >these</font><font style='font-family:Arial;font-size:9pt;' > estimate</font><font style='font-family:Arial;font-size:9pt;' >s</font><font style='font-family:Arial;font-size:9pt;' >, including information obtained from thi</font><font style='font-family:Arial;font-size:9pt;' >rd parties, which is adjusted for the attributes of the specific asset under lease. Guarantees of residual values by unrelated third parties are </font><font style='font-family:Arial;font-size:9pt;' >included within</font><font style='font-family:Arial;font-size:9pt;' > minimum lease payments. Significant assumptions we use in estimating residual values include es</font><font style='font-family:Arial;font-size:9pt;' >timated net cash flows over the remaining lease term, anticipated results of future remarketing, and estimated future component part and scrap metal prices, discounted at an appropriate rate.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We recognize operating lease income on a straight-line basis ov</font><font style='font-family:Arial;font-size:9pt;' >er the terms of underlying leases.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
CY2015Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
104000000000 USD
CY2014Q4 ge Carrying Value Of Cash And Cash Equivalents
CarryingValueOfCashAndCashEquivalents
70025000000 USD
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11693841000 shares
CY2016Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
2107000000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
284668000000 USD
CY2014 us-gaap Research And Development Arrangement With Federal Government Customer Funding To Offset Costs Incurred
ResearchAndDevelopmentArrangementWithFederalGovernmentCustomerFundingToOffsetCostsIncurred
-721000000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.19
CY2014 ge Earnings From Continuing Operations Attributable To Common Shareowners For Per Share Calculation Basic
EarningsFromContinuingOperationsAttributableToCommonShareownersForPerShareCalculationBasic
9523000000 USD
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.51
CY2016 ge Noncontrolling Interest Portion Of Accumulated Other Comprehensive Income And Other
NoncontrollingInterestPortionOfAccumulatedOtherComprehensiveIncomeAndOther
134000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
54095000000 USD
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.38
CY2015 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
-7591000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
98000000 USD
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
-24366000000 USD
CY2016Q4 ge Cash Accruals Not Included In Schedule Assets Measured For Fair Value On Recurring Basis
CashAccrualsNotIncludedInScheduleAssetsMeasuredForFairValueOnRecurringBasis
0 USD
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.38
CY2016Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
397000000 USD
CY2016 ge Net Earnings Attributable To Ge Common Shareowners For Pershare Calculation Basic
NetEarningsAttributableToGeCommonShareownersForPershareCalculationBasic
8158000000 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
42561000000 USD
CY2016Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17564000000 USD
CY2016 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
502000000 USD
CY2016Q4 ge Deferred Tax Assets Operating Loss Carry Forward Foreign After Allocation Of Valuation Allowances
DeferredTaxAssetsOperatingLossCarryForwardForeignAfterAllocationOfValuationAllowances
2767000000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4005000000 USD
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
28783000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
8495000000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-7160000000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
5911000000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7309000000 USD
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
37224000000 USD
CY2016Q4 ge Derivative Net
DerivativeNet
703000000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5475000000 USD
CY2016 ge Earnings From Continuing Operations For Per Share Calculation Diluted
EarningsFromContinuingOperationsForPerShareCalculationDiluted
9759000000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-1360000000 USD
CY2016Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
0 USD
CY2015Q4 us-gaap Derivative Assets
DerivativeAssets
2282000000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
798000000 USD
CY2016Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
4996000000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
427000000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-2646000000 USD
CY2015Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
-1277000000 USD
CY2014 ge Subsidiary Earnings From Continuing Operations
SubsidiaryEarningsFromContinuingOperations
0 USD
CY2015Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
120951000000 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
147000000 USD
CY2015 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
14287000000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.78
CY2015Q4 us-gaap Inventory Gross
InventoryGross
22308000000 USD
CY2015 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
8034000000 USD
CY2016 ge Sharebasedcompensationarrangementbysharebasedpaymentawardequityinstrumentsotherthanoptionsweightedaverageamortizedoverremainingvestingperiod
Sharebasedcompensationarrangementbysharebasedpaymentawardequityinstrumentsotherthanoptionsweightedaverageamortizedoverremainingvestingperiod
P02Y
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-1000000 USD
CY2015 ge Earnings From Continuing Operations Retained By Subsidiary
EarningsFromContinuingOperationsRetainedBySubsidiary
0 USD
CY2015 ge Earningsfromcontinuingoperationsforpersharecalculationbasic
Earningsfromcontinuingoperationsforpersharecalculationbasic
1679000000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
23762000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
70000000 USD
CY2015 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
4724000000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7134000000 USD
CY2015 ge Preferred Stock Dividends Income Statement Impact Diluted
PreferredStockDividendsIncomeStatementImpactDiluted
18000000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
103000000 USD
CY2016 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2016 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
2449000000 USD
CY2016Q1 us-gaap Revenues
Revenues
2885000000 USD
CY2016 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
729000000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1723000000 USD
CY2016 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
266000000 USD
CY2014 ge Incomelossfromdiscontinuedoperationsnetoftaxbasic
Incomelossfromdiscontinuedoperationsnetoftaxbasic
5691000000 USD
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
32889000000 USD
CY2014 us-gaap Revenues
Revenues
117184000000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4483000000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-4220000000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
64000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
16336000000 USD
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4112000000 USD
CY2016 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;' >Sales of Goods and Services</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We record all sales of goods and services only when a firm sales agreement is in place, delivery has occurred or services have been </font><font style='font-family:Arial;font-size:9pt;' >rendered and collectability of the fixed or determinable sales price is reasonably assured.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Arrangements for the sale of goods and services sometimes include multiple components. Most of our multiple component arrangements involve the sale of goods and se</font><font style='font-family:Arial;font-size:9pt;' >rvices in the Healthcare segment. Our arrangements with multiple components usually involve an upfront deliverable of large machinery or equipment and future service deliverables such as installation, commissioning, training or the future delivery of ancil</font><font style='font-family:Arial;font-size:9pt;' >lary products. In most cases, the relative values of the undelivered components are not significant to the overall arrangement and are typically delivered within three to six months after the core product has been delivered. In such agreements, selling pri</font><font style='font-family:Arial;font-size:9pt;' >ce is determined for each component and any difference between the total of the separate selling prices and total contract consideration (i.e., discount) is allocated pro rata across each of the components in the arrangement. The value assigned to each com</font><font style='font-family:Arial;font-size:9pt;' >ponent is objectively determined and obtained primarily from sources such as the separate selling price for that or a similar item or from competitor prices for similar items. If such evidence is not available, we use our best estimate of selling price, wh</font><font style='font-family:Arial;font-size:9pt;' >ich is established consistent with the pricing strategy of the business and considers product configuration, geography, customer type, and other market specific factors. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >Except for goods sold under long-term agreements, we recognize sales of goods under </font><font style='font-family:Arial;font-size:9pt;' >the provisions of U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) 104, </font><font style='font-family:Arial;font-size:9pt;font-style:italic;' >Revenue Recognition</font><font style='font-family:Arial;font-size:9pt;' >. </font><font style='font-family:Arial;font-size:9pt;' >In arrangements where we sell products that provide the customer with a right of return, we </font><font style='font-family:Arial;font-size:9pt;' >use our accumulated experience to estimate</font><font style='font-family:Arial;font-size:9pt;' > and provide for such returns when we record the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have reliably demonstrated that all specif</font><font style='font-family:Arial;font-size:9pt;' >ied acceptance criteria have been met or when formal acceptance occurs, respectively. In arrangements where we provide goods for trial and evaluation purposes, we only recognize revenue after customer acceptance occurs. Unless otherwise noted, we do not pr</font><font style='font-family:Arial;font-size:9pt;' >ovide for anticipated losses before we record sales.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We recognize revenue on agreements for sales of goods and services under power generation unit and uprate contracts, nuclear fuel assemblies, larger oil drilling equipment projects, </font><font style='font-family:Arial;font-size:9pt;' >aeroderivative</font><font style='font-family:Arial;font-size:9pt;' > unit contracts, military development contracts, locomotive </font><font style='font-family:Arial;font-size:9pt;' >production contracts, and long-term construction projects, using long-term construction and production contract accounting. We estimate total long-term contract revenue net of price concessions as well as total contract costs. For goods sold under power ge</font><font style='font-family:Arial;font-size:9pt;' >neration unit and uprate contracts, nuclear fuel assemblies, </font><font style='font-family:Arial;font-size:9pt;' >aeroderivative</font><font style='font-family:Arial;font-size:9pt;' > unit contracts, military development contracts and locomotive production contracts, we recognize sales as we complete major contract-specified deliverables, most often when custome</font><font style='font-family:Arial;font-size:9pt;' >rs receive title to the goods or accept the services as performed. For larger oil drilling equipment projects and long-term construction projects, we recognize sales based on our progress toward contract completion measured by actual costs incurred in rela</font><font style='font-family:Arial;font-size:9pt;' >tion to our estimate of total expected costs. We measure long-term contract revenues by applying our contract-specific estimated margin rates to incurred costs. We routinely update our estimates of future costs for agreements in process and report any cumu</font><font style='font-family:Arial;font-size:9pt;' >lative effects of such adjustments in current operations. We provide for any loss that we expect to incur on these agreements when that loss is probable. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We recognize revenue upon deliver</font><font style='font-family:Arial;font-size:9pt;' >y for sales of aircraft engines and</font><font style='font-family:Arial;font-size:9pt;' > military propulsion equipment</font><font style='font-family:Arial;font-size:9pt;' >. </font><font style='font-family:Arial;font-size:9pt;' >Delivery of commercial engines and</font><font style='font-family:Arial;font-size:9pt;' > non-U.S. military equipm</font><font style='font-family:Arial;font-size:9pt;' >ent </font><font style='font-family:Arial;font-size:9pt;' >occurs on shipment; delivery of military propulsion equipment sold to the U.S. government or agencies thereof occurs upon receipt of a Material Inspection and Receiving Report, DD&#160;Form&#160;250 or M</font><font style='font-family:Arial;font-size:9pt;' >emorandum of Shipment. Commercial aircraft engines are complex equipment manufactured to customer order under a variety of sometimes complex, long-term agreements. We measure sales of commercial aircraft engines by applying our contract-specific estimated </font><font style='font-family:Arial;font-size:9pt;' >margin rates to incurred costs. We routinely update our estimates of future revenues and costs for commercial aircraft engine agreements in process and report any cumulative effects of such adjustments in current operations. Significant components of our r</font><font style='font-family:Arial;font-size:9pt;' >evenue and cost estimates include price concessions and performance-related guarantees as well as material, labor and overhead costs. We measure revenue for military propulsion equipment and spare parts not subject to long-term product services agreements </font><font style='font-family:Arial;font-size:9pt;' >based on the specific contract on a specifically measured output basis. We provide for any loss that we expect to incur on these agreements when that loss is probable; consistent with industry practice, for commercial aircraft engines, we make such provisi</font><font style='font-family:Arial;font-size:9pt;' >on only if such losses are not recoverable from future highly probable sales of spare parts and services for those engines.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:9pt;margin-left:0pt;' >We sell product services under long-term product maintenance or extended warranty agreements in our Aviation, Power, Oil &amp; Gas and </font><font style='font-family:Arial;font-size:9pt;' >Transportation segments, where costs of performing services are incurred on other than a straight-line basis. We also sell </font><font style='font-family:Arial;font-size:9pt;' >similar long-term </font><font style='font-family:Arial;font-size:9pt;' >product services in our Healthcar</font><font style='font-family:Arial;font-size:9pt;' >e</font><font style='font-family:Arial;font-size:9pt;' > and Renewable Energy segment</font><font style='font-family:Arial;font-size:9pt;' >s</font><font style='font-family:Arial;font-size:9pt;' >, where such costs generally are expected to be </font><font style='font-family:Arial;font-size:9pt;' >inc</font><font style='font-family:Arial;font-size:9pt;' >urred </font><font style='font-family:Arial;font-size:9pt;' >on a straight-line basis. For the Aviation, Power, Oil &amp; Gas and Transportation agreements, we recognize related sales based on the extent of our progress toward completion measured by actual costs incurred in relation to total expected costs. We rou</font><font style='font-family:Arial;font-size:9pt;' >tinely update our estimates of future costs for agreements in process and report any cumulative effects of such adjustments in current operations. For the Healthcare </font><font style='font-family:Arial;font-size:9pt;' >and Renewable Energy </font><font style='font-family:Arial;font-size:9pt;' >agreements, we recognize revenues on a straight-line basis and expens</font><font style='font-family:Arial;font-size:9pt;' >e related costs as incurred. We provide for any loss that we expect to incur on any of these agreements when that loss is probable.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
37613000000 USD
CY2015 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
3599000000 USD
CY2016 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
789000000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16436000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-14000000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
64000000 USD
CY2015 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-913000000 USD
CY2014 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0644 pure
CY2014 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
9535000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-80000000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.56
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
140020000000 USD
CY2016 dei Document Type
DocumentType
10-K
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CY2014 ge Dividends And Other Transactions With Shareowners
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CY2014 ge Proceeds From Issuance Of Preferred Stock
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CY2016Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
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CY2016Q4 us-gaap Preferred Stock Value
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2015Q4 us-gaap Accounts Payable Current
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CY2016 ge Newly Issued Debt Maturities Longer Than90 Days
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CY2016 dei Trading Symbol
TradingSymbol
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CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2015Q4 us-gaap Assets
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CY2016 ge Geccpreferredstockfacevalue
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CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2016 dei Amendment Flag
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CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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CY2016 us-gaap Stock Repurchased During Period Value
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CY2015Q4 ge Long Term And Non Recourse Borrowings
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CY2016 us-gaap Increase Decrease In Finance Receivables
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CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2015 ge Noncontrolling Interest Portion Of Accumulated Other Comprehensive Income And Other
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CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2015 ge Increase Decrease Progress Collections
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CY2015 ge Earnings From Continuing Operations Attributable To Common Shareowners For Per Share Calculation Diluted
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CY2016 us-gaap Maximum Length Of Time Foreign Currency Cash Flow Hedge
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CY2015Q4 ge Excluded Investment Commitments
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CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2016Q4 dei Entity Common Stock Shares Outstanding
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CY2016Q4 us-gaap Due From Related Parties Noncurrent
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2014 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2015 us-gaap Research And Development Arrangement With Federal Government Customer Funding To Offset Costs Incurred
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CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2015Q4 ge Accrued Progress Collections Price Adjustments
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CY2016Q4 us-gaap Earnings Per Share Diluted
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CY2016 us-gaap Proceeds From Divestiture Of Businesses
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CY2016Q4 us-gaap Derivative Fair Value Of Derivative Liability
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CY2016Q4 us-gaap Preferred Stock Shares Issued
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CY2016Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2014 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2014 us-gaap Current Federal Tax Expense Benefit
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CY2016Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
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CY2016Q4 ge Assets Held For Sale At Carrying Value1
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CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2015 us-gaap Proceeds From Payments For Other Financing Activities
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CY2014 us-gaap Cost Of Goods Sold
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CY2015 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
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CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2016 us-gaap Available For Sale Securities Gross Unrealized Loss
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CY2014 us-gaap Provision For Loan And Lease Losses
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CY2015 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2014 ge Excess Of Actual Tax Deductions Over Amounts Assumed Recognized In Shareowners Equity
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CY2014 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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CY2016 dei Entity Registrant Name
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