Does this 8-K filing restate GE's historical financial performance?

No, this filing does not restate or revise previously reported financial statements. Instead, it provides reclassified segment information and updates on how performance will be measured going forward to comply with new accounting standards and reflect organizational changes.

What are the main organizational changes affecting GE's segments?

GE Capital is being broken down into four separate financial services businesses. Additionally, GE Appliances and GE Lighting are being combined to form a new GE Consumer Products business.

Are there any changes to how GE accounts for goodwill or pension costs?

Yes, GE adopted a new accounting requirement to cease amortizing goodwill as of January 1, 2002. Additionally, earnings effects associated with GE pension and other retiree benefit plans are now treated as corporate items rather than segment items. Other selected costs previously at the corporate level are now allocated to segments.

Will investors see these changes reflected in past financial reports?

This filing provides reclassified segment information for prior periods to conform with the new segment presentation. These conformed financial statements will be used as the historical basis for future SEC filings, but the original reported results remain unchanged.

GE 8-K SEC Disclosure — Sep 17, 2002

Summary

This 8-K filing from General Electric (GE) on September 17, 2002, primarily serves to update investors on changes in the company's reporting segments and the basis for measuring segment performance. These changes are a result of previously announced organizational shifts, including the restructuring of GE Capital into four distinct financial services businesses and the formation of GE Consumer Products from GE Appliances and GE Lighting. The filing also reflects accounting adjustments made earlier in 2002 related to the cessation of goodwill amortization and the treatment of pension and retiree benefit plan effects as corporate rather than segment items. Investors should note that this report does not restate past financial results but provides reclassified segment information to align with future reporting standards (SFAS No. 131).

Key Highlights

1GE is formally updating its reporting segments in accordance with SFAS No. 131.
2GE Capital is being reorganized into four separate financial services businesses.
3A new GE Consumer Products business is formed by combining GE Appliances and GE Lighting.
4The filing includes reclassified segment information for prior periods to reflect these organizational changes.
5Changes in the measurement of segment performance, including treating goodwill amortization and pension costs as corporate items, are incorporated.
6The report provides reclassified financial statements that will be used for future SEC filings.

GENERAL ELECTRIC CO 8-K Report (Sep 17, 2002)

Summary

Key Highlights

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