Summary
General Electric Company (GE) filed an 8-K on December 12, 2012, to disclose revised unaudited segment financial information. This revision reflects a significant reorganization of GE's business segments, effective October 1, 2012. The company has realigned its Energy Infrastructure businesses into three distinct segments: Power & Water, Oil & Gas, and Energy Management. Additionally, the Intelligent Platforms business has been moved from Home & Business Solutions to Energy Management. Investors should note that these changes impact how GE reports its financial results by segment for periods beginning in the fourth quarter of 2012. The filing includes reclassified historical segment data for 2009, 2010, 2011, and the first three quarters of 2012 to allow for consistent year-over-year comparisons under the new structure. This initiative aims to provide a clearer view of performance across these newly defined operational units.
Key Highlights
- 1GE is reorganizing its business segments, effective October 1, 2012, impacting financial reporting.
- 2The Energy Infrastructure division has been split into three new segments: Power & Water, Oil & Gas, and Energy Management.
- 3The Intelligent Platforms business has been transferred from Home & Business Solutions to the Energy Management segment.
- 4GE is providing restated historical segment financial data for 2009, 2010, 2011, and the first three quarters of 2012.
- 5This segment reorganization will be reflected in GE's financial statements for periods commencing October 1, 2012.
- 6The filing's purpose is to ensure consistent comparative financial reporting under the new segment structure.