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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000040545-02-000016.txt : 20020416
<SEC-HEADER>0000040545-02-000016.hdr.sgml : 20020416
ACCESSION NUMBER:		0000040545-02-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20020411
ITEM INFORMATION:		
FILED AS OF DATE:		20020411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENERAL ELECTRIC CO
		CENTRAL INDEX KEY:			0000040545
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600]
		IRS NUMBER:				140689340
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00035
		FILM NUMBER:		02608164

	BUSINESS ADDRESS:	
		STREET 1:		3135 EASTON TURNPIKE
		STREET 2:		W3M
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06431
		BUSINESS PHONE:		203-373-2211

	MAIL ADDRESS:	
		STREET 1:		3135 EASTON TURNPIKE
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06431
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>frm8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934



         Date of Report (Date of earliest event reported) April 11, 2002



                            GENERAL ELECTRIC COMPANY
             (Exact name of registrant as specified in its charter)



           New York                      1-35                   14-0689340
- ----------------------------    ------------------------    -------------------
(State or other jurisdiction    (Commission File Number)       (IRS Employer
     of incorporation)                                      Identification No.)




     3135 Easton Turnpike, Fairfield, Connecticut               06431
- -------------------------------------------------------     ---------------
       (Address of principal executive offices)               (Zip Code)



        Registrant's telephone number, including area code (203) 373-2211
                                                           --------------

<PAGE>


ITEM 9. REGULATION FD DISCLOSURE

           On April 11, 2002, General Electric Company ("GE") issued a press
release setting forth GE's first-quarter 2002 earnings. A copy of GE's press
release is attached hereto as Exhibit 99(a) and hereby incorporated by
reference. Prior-period segment results referred to in GE's April 11, 2002,
press release are attached hereto as Exhibit 99(b) and hereby incorporated by
reference.

<PAGE>


                                   SIGNATURES

           Pursuant to the requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                        GENERAL ELECTRIC COMPANY



                                        By:  /S/ PHILIP D. AMEEN
                                              ----------------------------------
                                             Philip D. Ameen
                                             Vice President and Comptroller
Date: April 11, 2002


Exhibit Index

99(a)   Press release, dated April 11, 2002, issued by General Electric
        Company

99(b)   Prior-period segment results issued by General Electric Company on
        April 11, 2002



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex99a.txt
<DESCRIPTION>EXHIBIT 99(A)
<TEXT>
GE FIRST  QUARTER  EARNINGS  GROW 17% TO A RECORD $3.5  BILLION;  CASH FLOW FROM
OPERATIONS EX-PROGRESS RISES 18%

    FAIRFIELD, Conn.--(BUSINESS WIRE)--April 11, 2002--GE's first-quarter 2002
earnings before required accounting changes grew 17% to a record $3.5 billion,
or $.35 per share, the Company announced today.

    "GE delivered in the first quarter for the same reason we have delivered
throughout the economic downturn -- the strength of our business model," said GE
Chairman and CEO Jeff Immelt. "Power Systems, GE Capital and broad-based
productivity gains helped our short-cycle businesses ride out this
still-difficult economy. It's this mix of businesses, and execution of our
initiatives, that enable GE to deliver earnings and cash growth through economic
cycles."

    Financial highlights of the quarter include:


- --   Earnings before required accounting changes rose 17%, to $3.518 billion, or
     $.35 per share,  from last year's $3.017 billion,  or $.30 per share.  Both
     earnings  and EPS were  records for the quarter.  Earnings  after  required
     accounting changes in both quarters are described below.

- --   Revenues of $30.5  billion  were about the same as in first  quarter  2001.
     Industrial  businesses'  revenues grew 5%, reflecting continued strength at
     Power Systems,  including  termination  revenues of $476 million, and NBC's
     Winter Olympics broadcasts. GE Capital Services (GECS) revenues declined 6%
     as a result of  repositioning  activities and the revenue  effects of lower
     interest rates,  the earnings effects of which were offset by lower matched
     borrowing costs.

- --   Cash  generated  from  GE's  operating   activities,   excluding   progress
     collections,  was $2.2  billion,  up 18% from  last  year's  $1.8  billion.
     Reflecting  record  progress  collections in 2001,  reported cash flow from
     operating  activities  of $1.4  billion was 53% lower than last year's $3.1
     billion.

- --   Operating  margin was a  first-quarter  record 18.2% of sales, up from last
     year's 17.7%. GE's digitization initiative was a significant contributor to
     margin expansion in the quarter.

- --   GE Capital Services (GECS) first-quarter earnings before accounting changes
     rose to $1.657  billion,  up 18% over last year's  reported $1.401 billion.
     These results reflect the diversity of GECS businesses,  with strong growth
     in its Specialized  Financing,  Mid-Market  Financing and Consumer Services
     segments.  GECS assets  totaled $427 billion at the end of the quarter,  up
     15% from $370 billion at the end of first quarter 2001.

- --   Required  accounting  changes  include  a  non-cash  transition  charge  to
     earnings in first quarter 2002 of $1.015  billion,  or $.10 per share,  for
     impairment  of goodwill as required  for adoption of Statement of Financial
     Accounting  Standards 142 (SFAS 142).  Earnings  after  accounting  changes
     totaled $2.503 billion, or $.25 per share. In the first quarter of 2001, GE
     recorded a one-time,  non-cash  transition charge of $444 million,  or $.04
     per  share,   as  required  for  adoption  of  new  accounting   rules  for
     derivatives,  warrants,  options and other financial  instruments (SFAS 133
     and EITF 99-20).  Earnings after accounting changes were $2.573 billion, or
     $.26 per share.

- --   GE stopped  amortizing  goodwill as of January 1, 2002, in accordance  with
     the adoption of SFAS 142. Excluding goodwill  amortization in first quarter
     2001,  EPS and earnings in first quarter 2002 rose 9% and 8%  respectively.
     To facilitate comparison of segment operating results,  prior-year goodwill
     amortization  is now  treated as a corporate  rather  than a segment  cost.
     Other changes to segment  operating  results relate to the GE pension plan,
     now reported at the corporate  level,  and  allocation to segments of other
     selected  costs  previously  reported at the corporate  level.  These other
     changes  have no  impact on  consolidated  earnings.  Prior-period  segment
     results    reflecting    all   of   these    changes   are   available   at
     www.ge.com/investor.   [Such  prior-period   segment  information  is  also
     provided in Exhibit 99(b) to this Form 8-K report.]

    As previously announced, GE will provide more detail on first-quarter
results on a conference call and Webcast to be held at 9 a.m. EDT today. Call
information is available at www.ge.com/investor.

    Among first-quarter business highlights:


- --   GE Power Systems  (GEPS)  continued to meet record demand for gas turbines,
     shipping 85 heavy-duty  gas turbines in the quarter.  GEPS Energy  Services
     business added 41 contractual  services  agreements valued at $1.5 billion,
     driving total commitments for these multi-year agreements to $26.0 billion,
     up $8.3 billion or 47% over last year. GEPS completed three acquisitions in
     the  quarter  to  enhance  its  technology  base and expand its Oil and Gas
     businesses and services  capabilities:  Bently Nevada,  Pipeline  Integrity
     International  and KVB-Enertec.  GEPS also reached agreement to acquire the
     manufacturing  and  technology  assets of Enron Wind Corp.,  establishing a
     presence in the renewable wind power segment of the industry.

- --   GE Medical  Systems (GEMS) built a global base for growth and continued its
     product development initiatives. Total orders were up 4%, with double-digit
     growth in MR  (magnetic  resonance),  ultrasound,  PET  (positron  emission
     tomography),   outpatient   monitoring  and  related  clinical  information
     systems;  these  were  partially  offset by a 6%  decline  in CT  (computed
     tomography)  orders as the market  anticipated the introduction of GEMS new
     16-slice  technology  in the  second  quarter.  During  the  quarter,  GEMS
     expanded  its  product  lines  and  capabilities  as it  completed  several
     acquisitions,  including MedicaLogic, a developer of electronic records for
     outpatient care;  iPath, a leader in surgery  management  software;  Danica
     Biomedical A/S, a Denmark-based developer of wireless technology for secure
     intra-hospital transmission of patient information;  and Surgical Insights,
     Inc.,  a pioneer in the  development  of  image-guided  orthopedic  surgery
     software.

- --   GE Aircraft  Engines  (GEAE),  CFMI (its joint venture with Snecma Moteurs)
     and the GE-PW Engine  Alliance won $2.5 billion in equipment  orders during
     the first quarter from customers including Emirates Airline, Ryanair, South
     African  Airways,  Frontier  Airlines and Continental  Airlines.  GEAE also
     added more than $2 billion in multi-year  service agreements with customers
     including KLM and Continental Airlines.  The CF34 Growth engine development
     program  achieved a significant  milestone with the successful first flight
     of the Embraer 170 regional jet. To date, GEAE has received over $7 billion
     in orders for CF34  regional jet  engines,  the  fastest-growing  sector of
     commercial aviation.  In addition,  GEAE received in excess of $600 million
     in contracts from the U.S. military during the quarter,  including an order
     to provide  engines  for the  initial  phase of the Air  Force's C-5 Galaxy
     Re-engining Program.

- --   GE Capital Services (GECS) posted a strong  performance  through  continued
     cost improvement and robust  acquisition  activity.  GECS  digitization and
     productivity  enhancements  reduced operating and  administrative  costs by
     $275 million, which contributed $165 million to GECS earnings.  Acquisition
     activity remained strong,  as Real Estate and Commercial  Finance completed
     the acquisition of Daimler  Chrysler's real estate and asset-based  lending
     portfolios. Global Consumer Finance completed the acquisition of Kingfisher
     plc's Time Retail  Finance  operations and also agreed to acquire the sales
     finance business of Kawai Instruments,  while Commercial  Equipment Finance
     and Healthcare  Financial Services agreed to acquire leasing businesses and
     financing assets from Comdisco.

- --   NBC continued its success in television's key demographic category,  adults
     18-49,  with  first-quarter  ratings 40  percent  higher  than its  closest
     prime-time  competitor's.  In February, NBC telecast the second-most-viewed
     Winter Olympics ever, reaching a total of 187 million American viewers. The
     Olympics  led the  network to an eighth  consecutive  sweeps-month  victory
     among  adults  18-49,  with the highest  ratings for any network in a major
     sweeps month in eight years. NBC was also television's No. 1 network in key
     demographics for the quarter in late night, daytime,  morning news, evening
     news and Sunday-morning  public affairs  programming.  NBC saw increases in
     scatter pricing, which at the end of the quarter was 6% higher than upfront
     pricing.

- --   GE  Appliances  (GEA)  grew  quarterly  revenues  8%  with  a  very  strong
     performance in the U.S., where core product volumes were up 10%,  outpacing
     the industry and gaining 0.6 points of market share. GEA products continued
     to win awards,  as the Monogram  Advantium(TM)  Speed Cook Oven was named a
     "Top 100 Pick" by Building Products magazine and Home magazine named the GE
     Profile  Arctica(TM)  Refrigerator  one of its  "Products  of the  Year." A
     leading  consumer  magazine  named GE cooking  products its top products in
     several  categories.  GEA also launched a new GE Profile  Washer that meets
     the Department of Energy's stringent Energy Star guidelines.

- --   GE  Plastics  (GEP)  average  daily order  rates  increased  18% over first
     quarter 2001, with order growth in the media, consumer and industrial,  and
     automotive segments, but pricing remained difficult.  GEP ended the quarter
     with an  increase  in its order  backlog  for the first time in more than a
     year.  Although the backlog was 29% lower than at the end of first  quarter
     2001, it was 36% higher than at the end of the year.



    Immelt said, "Our initiatives continue to yield impressive results in
productivity, product and services leadership and business development. These
initiatives, combined with GE's strong portfolio, will enable us to deliver
earnings of $1.65-$1.67 per share in 2002."

    GE (NYSE:GE) is a diversified technology, services and manufacturing company
with a commitment to achieving customer success. GE operates in more than 100
countries and employs approximately 310,000 people worldwide. For more
information, visit the company's Web site at http://www.ge.com/.


    Caution Concerning Forward-Looking Statements

    This document includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may differ materially
from these expectations due to changes in global political, economic, business,
competitive, market and regulatory factors. More detailed information about
those factors is contained in GE's filings with the Securities and Exchange
Commission.




                       GENERAL ELECTRIC COMPANY
                    Condensed Statement of Earnings

                      Consolidated         GE            GECS
                     ---------------  ------------  ----------------
Three months
ended March 31,       2002    2001    2002    2001     2002     2001
                     ------  ------ -------  ------   ------   -----
Revenues
  Sales of goods
    and services    $17,488 $16,860 $16,748 $15,850    $816   $1,068
  Earnings of GECS
    before accounting
    changes               -       -   1,657   1,401       -        -
  GECS revenues
    from services    12,978  13,574       -       -  13,083   13,655
  Other income           55      59      86     109       -        -
                    ------- ------- ------- -------  ------  -------
    Total revenues   30,521  30,493  18,491  17,360  13,899   14,723
                    ------- ------- ------- -------  ------  -------

Costs and expenses
  Cost of sales,
    operating and
    administrative
    expenses         18,853  18,560  13,700  12,923   5,294    5,749
  Goodwill
    amortization          -     295       -     121       -      174
  Interest and
    other financial
    charges           2,374   3,076     157     255   2,288    2,898
  Insurance losses
    and policyholder
    and annuity
    benefits          3,549   3,523       -       -   3,549    3,523
  Provision for
    losses on
    financing
    receivables         662     483       -       -     662      483
  Minority interest
    in net earnings
    of consolidated
    affiliates           76     102      42      45      34       57
                    ------- ------- ------- -------  ------  -------
    Total costs
      and expenses   25,514  26,039  13,899  13,344  11,827   12,884
                    ------- ------- ------- -------  ------  -------

Earnings before
  income taxes and
  accounting changes  5,007   4,454   4,592   4,016   2,072    1,839
Provision for
  income taxes       (1,489) (1,437) (1,074)   (999)   (415)    (438)
                    ------- ------- ------- -------  ------  -------
Earnings before
  accounting changes $3,518  $3,017  $3,518  $3,017  $1,657   $1,401
                    ------- ------- ------- -------  ------  -------

Cumulative effect
  of accounting
  changes            (1,015)   (444) (1,015)   (444) (1,015)    (169)
                    ------- ------- ------- -------  ------  -------
Net earnings         $2,503  $2,573  $2,503  $2,573    $642   $1,232
                    ======= ======= ======= =======  ======  =======

Per-share amounts
before accounting
changes (in dollars)
  Diluted earnings
    per share         $0.35   $0.30
  Basic earnings
    per share         $0.35   $0.30

Per-share amounts
after accounting
changes (in dollars)
  Diluted earnings
    per share         $0.25   $0.26
  Basic earnings
    per share         $0.25   $0.26

Dividends declared
  per share
  (in dollars)        $0.18   $0.16


    Dollar amounts in millions; per-share amounts in dollars;
unaudited. Supplemental consolidating data are shown for "GE" and
"GECS." Transactions between GE and GECS have been eliminated from the
"consolidated" columns. See note 1 to the consolidated financial
statements in the 2001 Annual Report to Share Owners for further
information about consolidation matters.


GENERAL ELECTRIC COMPANY
All amounts except per-share earnings are in millions of U.S. dollars.


Three months ended March 31,              2002       2001        V%
                                       -------------------------------

Revenues                               $ 30,521   $ 30,493        -

Earnings before accounting changes     $  3,518   $  3,017       17
Cumulative effect of accounting changes  (1,015)      (444)
Net earnings                              2,503      2,573       (3)

Per-Share Earnings
Diluted
   Before accounting changes           $   0.35   $   0.30       17
   Cumulative effect of accounting
    changes                               (0.10)     (0.04)
   After accounting changes                0.25       0.26       (4)
Basic
   Before accounting changes           $   0.35   $   0.30       17
   Cumulative effect of accounting
    changes                               (0.10)     (0.04)
   After accounting changes                0.25       0.26       (4)


Segment Information - Industrial Businesses
                                          2002       2001        V%
                                       -------------------------------
Revenues
    Aircraft Engines                   $  2,577   $  2,738       (6)
    Appliances                            1,414      1,315        8
    Industrial Products & Systems:
       Industrial Systems                 1,097      1,124       (2)
       Lighting                             540        609      (11)
       Transportation Systems               482        548      (12)
       GE Supply                            532        566       (6)
                                       -----------------------
    Total Industrial Products & Systems   2,651      2,847       (7)

    Materials:
       Plastics                           1,179      1,448      (19)
       Specialty Materials                  401        486      (17)
                                       -----------------------
    Total Materials                       1,580      1,934      (18)

    NBC                                   1,998      1,351       48
    Power Systems                         5,271      4,260       24
    Technical Products and Services:
       Medical Systems                    1,863      1,828        2
       Global eXchange Services             105        170      (38)
                                       -----------------------
    Total Technical Products and
     Services                             1,968      1,998       (2)

Segment profit (a)
    Aircraft Engines                        421        480      (12)
    Appliances                               91         87        5
    Industrial Products & Systems:
       Industrial Systems                   103        133      (23)
       Lighting                              20         59      (66)
       Transportation Systems                53         50        6
       GE Supply                             20         18       11
                                       -----------------------
    Total Industrial Products & Systems     196        260      (25)

    Materials:
       Plastics                             207        339      (39)
       Specialty Materials                   47         81      (42)
                                       -----------------------
    Total Materials                         254        420      (40)

    NBC                                     313        298        5
    Power Systems                         1,552        857       81
    Technical Products and Services:
       Medical Systems                      266        293       (9)
       Global eXchange Services               5         31      (84)
                                       -----------------------
    Total Technical Products and Services   271        324      (16)


    (a) First quarter 2001 reclassified to conform to 2002
        presentation.


Segment Information - GE Capital Services

Dollars in millions
Three months ended March 31,        2002      2001      %V
                                 ----------------------------

Consolidated GECS
       Revenues
       Consumer Services           $ 5,410   $ 5,692     -5%
       Equipment Management          1,599     1,845    -13%
       Mid-Market Financing          2,271     1,951     16%
       Specialized Financing           720       835    -14%
       Specialty Insurance           2,785     2,888     -4%
       All Other                     1,114     1,512    -26%
                                 ----------------------------
          Total Revenues          $ 13,899  $ 14,723     -6%
                                 ============================

Consumer Services
       Revenues
       Global Consumer Finance       1,470     1,318     12%
       GE Financial Assurance        2,983     3,100     -4%
       GE Card Services                903     1,122    -20%
       Other Consumer Services          54       152    -64%
                                 ----------------------------
          Total Revenues           $ 5,410   $ 5,692     -5%
                                 ============================

Equipment Management
       Revenues
       Aviation Services               568       516     10%
       Americom                          -       237   -100%
       Other Equipment Management    1,031     1,092     -6%
                                 ----------------------------
          Total Revenues           $ 1,599   $ 1,845    -13%
                                 ============================

Mid-Market Financing
       Revenues
       Commercial Equipment          1,081       956     13%
       Commercial Finance              610       524     16%
       Vendor Financial                535       471     14%
       Other Mid-Market                 45         -
                                 ----------------------------
          Total Revenues           $ 2,271   $ 1,951     16%
                                 ============================

Specialized Financing
       Revenues
       Real Estate                     461       598    -23%
       SFG                             296       312     -5%
       GE Equity                       (55)      (89)   -38%
       Other Specialized Financing      18        14     29%
                                 ----------------------------
          Total Revenues             $ 720     $ 835    -14%
                                 ============================

Specialty Insurance
       Revenues
       Mortgage Insurance              280       309     -9%
       GE Global Insurance           2,407     2,497     -4%
       Other Specialty Insurance        98        82     20%
                                 ----------------------------
          Total Revenues           $ 2,785   $ 2,888     -4%
                                 ============================

All Other
       Revenues
       IT Solutions                    916     1,221    -25%

       Other                           198       291    -32%
                                 ----------------------------
          Total Revenues           $ 1,114   $ 1,512    -26%
                                 ============================


Net Earnings (a)
Consumer Services                $ 704    $ 648      9%
Equipment Management               169      306    -45%
Mid-Market Financing               354      292     21%
Specialized Financing              218      119     84%
Specialty Insurance                234      270    -13%
All Other                          (22)     (95)    77%
                              --------------------------
   Total Net Earnings          $ 1,657  $ 1,540      8%
                              ==========================

Net Earnings (a)
Global Consumer Finance            320      297      8%
GE Financial Assurance             173      159      9%
GE Card Services                   211      177     19%
Other Consumer Services              -       15       U
                              --------------------------
   Total Net Earnings            $ 704    $ 648      9%
                              ==========================


Net Earnings (a)
Aviation Services                   95      130    -27%
Americom                             -       91       U
Other Equipment Management          74       85    -13%
                              --------------------------
   Total Net Earnings            $ 169    $ 306    -45%
                              ==========================

Net Earnings (a)
Commercial Equipment               168      120     39%
Commercial Finance                 107      113     -5%
Vendor Financial                    67       57     17%
Other Mid-Market                    12        2       F
                              --------------------------
   Total Net Earnings            $ 354    $ 292     21%
                              ==========================


Net Earnings (a)
Real Estate                        162      132     23%
SFG                                129      106     22%
GE Equity                          (70)    (117)    40%
Other Specialized Financing         (3)      (2)      -
                              --------------------------
   Total Net Earnings            $ 218    $ 119     84%
                              ==========================


Net Earnings (a)
Mortgage Insurance                 100      124    -19%
GE Global Insurance                 80      146    -45%
Other Specialty Insurance           54        -       F
                              --------------------------
   Total Net Earnings            $ 234    $ 270    -13%
                              ==========================


Net Earnings (a)
IT Solutions                        (2)      (3)    33%
Other                              (20)     (92)    78%
                              --------------------------
   Total Net Earnings            $ (22)   $ (95)    77%
                              ==========================

(a) First quarter 2001 reclassified to conform to 2002 presentation.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex99b.txt
<DESCRIPTION>EXHIBIT 99(B)
<TEXT>

                                                                   EXHIBIT 99(a)

                            GENERAL ELECTRIC COMPANY


           On January 1, 2002, GE stopped amortizing goodwill in accordance with
the provisions of Statement of Financial Accounting Standards ("SFAS") 142,
"GOODWILL AND OTHER INTANGIBLE ASSETS." Simultaneously, to maintain a consistent
basis for its measurement of performance, management revised previously-reported
segment information to correspond to the earnings measurements by which GE
businesses will be evaluated. Accordingly, goodwill amortization is now treated
as a corporate rather than a segment cost. Other changes relate to the GE
pension and other retiree benefit plans, whose effects are now reported at the
corporate level, and allocation to segments of other selected costs previously
reported at the corporate level. Previously reported segment results, including
quarterly results for 2001, have been restated and are presented below.

GECS operating segment results have also been revised to reflect changes,
effective as of January 1, 2002, in GECS internal organization. Asia/Pacific
operations previously managed by region are now managed and reported by the
respective operating business. Also, certain businesses previously in separate
segments are now reviewed directly by GECS chief operating decision maker, and
are therefore designated by GECS as operating segments. Because none of these
operating segments qualifies as a GECS reporting segment, they have been
combined for reporting purposes and will be presented in GECS "All Other"
caption. Previously-reported segment results at GECS, including quarterly
results for 2001, have been restated and are presented below.

<PAGE>

                               INDUSTRY SEGMENTS

                          RECASTED REVENUES 2001-2000

$ Millions                                                  2001           2000
                                                       ---------      ---------
GE
      Aircraft Engines                                 $  11,389      $  10,779
      Appliances                                           5,810          5,887

      INDUSTRIAL PRODUCTS AND SYSTEMS
          Industrial Systems                               4,440          4,469
          Lighting                                         2,550          2,739
          Transportation Systems                           2,355          2,263
          GE Supply                                        2,302          2,159
                                                       ---------      ---------
      Total Industrial Products and Systems               11,647         11,630

      MATERIALS
          Plastics                                         5,252          6,013
          Specialty Materials                              1,817          2,007
                                                       ---------      ---------
      Total Materials                                      7,069          8,020

      NBC                                                  5,769          6,797
      Power Systems                                       20,211         14,861

      TECHNICAL PRODUCTS AND SERVICES
          Medical Systems                                  8,409          7,275
          Global eXchange Services                           602            640
                                                       ---------      ---------
      Total Technical Products and Services                9,011          7,915

      Eliminations                                        (2,900)        (2,101)
                                                       ---------      ---------
          Total GE segment revenues                       68,006         63,788

Corporate items                                              445            517
Earnings of GECS (excluding goodwill amortization)
    before accounting changes                              6,138          5,812
                                                       ---------      ---------
          Total GE revenues                               74,589         70,117

GECS segment revenues                                     58,353         66,177

      Eliminations                                        (7,029)        (6,441)
                                                       ---------      ---------

         Consolidated Revenues                         $ 125,913      $ 129,853
                                                       =========      =========
<PAGE>

                                INDUSTRY SEGMENTS

                      RECASTING OPERATING PROFIT 2001-2000

$ Millions                                                  2001           2000
                                                       ---------      ---------
       GE
           Aircraft Engine                             $   2,147      $   2,000
           Appliances                                        406            439

           INDUSTRIAL PRODUCTS AND SYSTEMS
               Industrial Systems                            527            596
               Lighting                                      242            440
               Transportation Systems                        400            436
               GE Supply                                      99             80
                                                       ---------      ---------
           Total Industrial Products and Systems           1,268          1,552

           MATERIALS
               Plastics                                    1,166          1,518
               Specialty Materials                           267            347
                                                       ---------      ---------
           Total Materials                                 1,433          1,865

           NBC                                             1,408          1,609
           Power Systems                                   4,860          2,523

           TECHNICAL PRODUCTS AND SERVICES
               Medical Systems                             1,498          1,321
               Global eXchange Services                      125            114
                                                       ---------      ---------
           Total Technical Products and Services           1,623          1,435

                                                       ---------      ---------
               Total GE operating profit                  13,145         11,423
           Earnings of GECS (excluding goodwill amortization)
                 before accounting changes                 6,138          5,812
                                                       ---------      ---------

           Total segment profit                           19,283         17,235

       Corporate items and eliminations (a)                 (145)           110
       GE interest and other financial charges              (817)          (811)
       GE provision for income taxes                      (4,193)        (3,799)
                                                       ---------      ---------

Earnings before accounting changes                     $  14,128      $  12,735

Cumulative effect of accounting changes                     (444)          --
                                                       ---------      ---------

CONSOLIDATED NET EARNINGS                              $  13,684      $  12,735
                                                       =========      =========



(a) Corporate items and eliminations - previously
     reported                                          $  (1,893)     $  (1,429)
       Pension and retiree benefit plans                   2,133          1,959
       Corporate cost assessment                             657            599
       Goodwill amortization                              (1,042)        (1,019)
                                                       ---------      ---------
    Corporate items and eliminations - revised         $    (145)     $     110
                                                       =========      =========

<PAGE>


SUMMARY OF OPERATING SEGMENTS

<TABLE>
<CAPTION>


GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES                                                                     2001 RECAST
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                 FIRST         SECOND          THIRD         FOURTH           TOTAL
                                                               QUARTER        QUARTER        QUARTER        QUARTER            YEAR
                                                              --------       --------       --------       --------       ---------
(Dollars in millions)                                             2001           2001           2001           2001            2001
<S>                                                           <C>            <C>            <C>            <C>            <C>

REVENUES
  GE
    Aircraft Engines                                          $  2,738       $  3,055       $  2,851       $  2,745       $  11,389
    Appliances                                                   1,315          1,402          1,535          1,558           5,810
    Industrial Products and Systems
        Industrial Systems                                       1,124          1,220          1,025          1,071           4,440
        Lighting                                                   609            604            598            739           2,550
        Transportation Systems                                     548            572            595            640           2,355
        GE Supply                                                  566            586            558            592           2,302
                                                              --------       --------       --------       --------       ---------
    Total Industrial Products and Systems                        2,847          2,982          2,776          3,042          11,647

    Materials
        Plastics                                                 1,448          1,363          1,255          1,186           5,252
        Specialty Materials                                        486            493            426            412           1,817
                                                              --------       --------       --------       --------       ---------
    Total Materials                                              1,934          1,856          1,681          1,598           7,069

    NBC                                                          1,351          1,831          1,050          1,537           5,769
    Power Systems                                                4,260          5,142          5,038          5,771          20,211

    Technical Products and Services
        Medical Systems                                          1,828          1,960          1,992          2,629           8,409
        Global eXchange Services                                   170            188            114            130             602
                                                              --------       --------       --------       --------       ---------
    Total Technical Products and Services                        1,998          2,148          2,106          2,759           9,011

    Eliminations                                                  (549)          (667)          (856)          (828)         (2,900)
                                                              --------       --------       --------       --------       ---------

      Total GE segment revenues                                 15,894         17,749         16,181         18,182          68,006
  Corporate items                                                   65             39            254             87             445
  Earnings of GECS (excluding goodwill amortization)
      before accounting changes                                  1,540          1,611          1,447          1,540           6,138
                                                              --------       --------       --------       --------       ---------

      Total GE revenues                                         17,499         19,399         17,882         19,809          74,589
  GECS segment revenues                                         14,723         14,399         13,298         15,933          58,353
  Eliminations <F1>                                            (1,729)        (1,821)        (1,712)        (1,767)         (7,029)
                                                              --------       --------       --------       --------       ---------

CONSOLIDATED REVENUES                                         $ 30,493       $ 31,977       $ 29,468       $ 33,975       $ 125,913
                                                              ========       ========       ========       ========       =========
<FN>

<F1> Principally the elimination of GECS net earnings

</FN>


</TABLE>


<PAGE>
SUMMARY OF OPERATING SEGMENTS

<TABLE>
<CAPTION>


GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES                                                                     2001 RECAST
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                 FIRST         SECOND          THIRD         FOURTH           TOTAL
                                                               QUARTER        QUARTER        QUARTER        QUARTER            YEAR
                                                              --------       --------       --------       --------       ---------
(Dollars in millions)                                             2001           2001           2001           2001            2001
<S>                                                           <C>            <C>            <C>            <C>            <C>


SEGMENT PROFIT
  GE
    Aircraft Engines                                          $    480       $    552       $    560       $    555       $   2,147
    Appliances                                                      87             93             98            128             406

    Industrial Products and Systems
        Industrial Systems                                         133            160            124            110             527
        Lighting                                                    59             78             30             75             242
        Transportation Systems                                      50            122            108            120             400
        GE Supply                                                   18             22             29             30              99
                                                              --------       --------       --------       --------       ---------
    Total Industrial Products and Systems                          260            382            291            335           1,268

    Materials
        Plastics                                                   339            334            278            215           1,166
        Specialty Materials                                         81             97             59             30             267
                                                              --------       --------       --------       --------       ---------
    Total Materials                                                420            431            337            245           1,433

    NBC                                                            298            491            207            412           1,408
    Power Systems                                                  857          1,153          1,222          1,628           4,860

    Technical Products and Services
        Medical Systems                                            293            356            344            505           1,498
        Global eXchange Services                                    31             67             (2)            29             125
                                                              --------       --------       --------       --------       ---------
    Total Technical Products and Services                          324            423            342            534           1,623
                                                              --------       --------       --------       --------       ---------

      Total GE operating profit                                  2,726          3,525          3,057          3,837          13,145
  Earnings of GECS (excluding goodwill amortization)
      before accounting changes                                  1,540          1,611          1,447          1,540           6,138
                                                              --------       --------       --------       --------       ---------

      Total segment profit                                       4,266          5,136          4,504          5,377          19,283
  Corporate items and eliminations <F2>                              5             97            (67)          (180)           (145)
  GE interest and other financial charges                         (255)          (115)          (244)          (203)           (817)
  GE provision for income taxes                                   (999)        (1,221)          (912)        (1,061)         (4,193)
                                                              --------       --------       --------       --------       ---------
EARNINGS BEFORE ACCOUNTING CHANGES                               3,017          3,897          3,281          3,933          14,128

  Cumulative effect of accounting changes                         (444)          --             --             --              (444)
                                                              --------       --------       --------       --------       ---------

CONSOLIDATED NET EARNINGS                                     $  2,573       $  3,897       $  3,281       $  3,933       $  13,684
                                                              ========       ========       ========       ========       =========
<FN>


<F2> Corporate items and eliminations - previously reported   $   (444)      $   (342)      $   (490)      $   (617)      $  (1,893)
        Pension and retiree benefit plans                          533            533            533            534           2,133
        Corporate cost assessment                                  164            166            166            161             657
        Goodwill amortization                                     (248)          (260)          (276)          (258)         (1,042)
                                                              --------       --------       --------       --------       ---------
     Corporate items and eliminations - revised               $      5       $     97       $    (67)      $   (180)      $    (145)
                                                              ========       ========       ========       ========       =========
</FN>

</TABLE>




<PAGE>

                           GE CAPITAL SERVICES (GECS)

CONSOLIDATED

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Consumer Services                                      $ 162,621      $ 156,616
Equipment Management                                      49,956         43,793
Mid-Market Financing                                     101,807         72,850
Specialized Financing                                     44,715         37,660
Specialty Insurance                                       58,741         52,108
All other                                                  7,644          7,609
                                                       ---------      ---------
     Total assets                                      $ 425,484      $ 370,636
                                                       =========      =========

REVENUES
Consumer Services                                      $  22,705      $  22,993
Equipment Management                                       8,272          7,525
Mid-Market Financing                                       8,695          7,043
Specialized Financing                                      2,930          4,105
Specialty Insurance                                       11,064         11,878
All other                                                  4,687         12,633
                                                       ---------      ---------
     Total revenues                                    $  58,353      $  66,177
                                                       =========      =========

NET EARNINGS
Consumer Services                                      $   2,467      $   1,930
Equipment Management                                       1,732          1,142
Mid-Market Financing                                       1,387          1,102
Specialized Financing                                        593          1,240
Specialty Insurance                                          608            994
All other                                                   (649)          (596)
                                                       ---------      ---------
Total earnings before accounting changes                   6,138          5,812

Cumulative effect of accounting changes                     (169)          --
                                                       ---------      ---------
     Net earnings                                          5,969          5,812
 Amortization of goodwill                                   (552)          (620)
                                                       ---------      ---------
 Net earnings - as reported                            $   5,417      $   5,192
                                                       =========      =========

- --------------------------------------------------------------------------------
CONSUMER SERVICES

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Global Consumer Finance                                $  43,893      $  36,643
GE Financial Assurance                                    96,759         92,608
GE Card Services                                          19,084         20,375
Other Consumer Services                                    2,885          6,990
                                                       ---------      ---------
     Total assets                                      $ 162,621      $ 156,616
                                                       =========      =========

REVENUES
Global Consumer Finance                                $   5,561      $   5,430
GE Financial Assurance                                    12,826         12,888
GE Card Services                                           3,947          3,891
Other Consumer Services                                      371            784
                                                       ---------      ---------
     Total revenues                                    $  22,705      $  22,993
                                                       =========      =========
NET EARNINGS (a)
Global Consumer Finance                                $   1,039      $     856
GE Financial Assurance                                       726            672
GE Card Services                                             669            520
Other Consumer Services                                       33           (118)
                                                       ---------      ---------
     Net earnings                                      $   2,467      $   1,930
                                                       =========      =========

(a)  Charges of $196  million and $107  million in 2001 and 2000,  respectively,
     were not  allocated  to this  segment  and are  included  in the All  Other
     operating segment.

<PAGE>


- --------------------------------------------------------------------------------
EQUIPMENT MANAGEMENT

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Aviation Services (GECAS)                              $  24,546      $  17,994
Americom                                                    --            2,268
Other Equipment Management                                25,410         23,531
                                                       ---------      ---------
     Total assets                                      $  49,956      $  43,793
                                                       =========      =========

REVENUES
Aviation Services (GECAS)                              $   2,173      $   1,962
Americom                                                     540            594
Other Equipment Management                                 5,559          4,969
                                                       ---------      ---------
     Total revenues                                    $   8,272      $   7,525
                                                       =========      =========

NET EARNINGS (a)
Aviation Services (GECAS)                              $     475      $     479
Americom                                                     898            197
Other Equipment Management                                   359            466
                                                       ---------      ---------
     Net earnings                                      $   1,732      $   1,142
                                                       =========      =========

(a)  Charges of $135  million and $191  million in 2001 and 2000,  respectively,
     were not  allocated  to this  segment  and are  included  in the All  Other
     operating segment.


- --------------------------------------------------------------------------------
MID-MARKET FINANCING

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Commercial Equipment Financing                         $  53,386      $  39,026
Commercial Finance                                        25,668         17,200
Vendor Financial Services                                 20,941         16,624
Other Mid-Market Financing                                 1,812           --
                                                       ---------      ---------
     Total assets                                      $ 101,807      $  72,850
                                                       =========      =========

REVENUES
Commercial Equipment Financing                         $   4,535      $   3,634
Commercial Finance                                         1,786          1,617
Vendor Financial Services                                  2,095          1,792
Other Mid-Market Financing                                   279           --
                                                       ---------      ---------
     Total revenues                                    $   8,695      $   7,043
                                                       =========      =========
NET EARNINGS (a)
Commercial Equipment Financing                         $     642      $     537
Commercial Finance                                           368            290
Vendor Financial Services                                    320            274
Other Mid-Market Financing                                    57              1
                                                       ---------      ---------
     Net earnings                                      $   1,387      $   1,102
                                                       =========      =========

(a)  Charges of $52 million in 2001 were not  allocated  to this segment and are
     included in the All Other operating segment.


<PAGE>


- --------------------------------------------------------------------------------
SPECIALIZED FINANCING

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Real Estate                                            $  23,861      $  20,758
Structured Finance Group                                  17,130         12,060
GE Equity                                                  3,573          4,583
Other Specialized Financing                                  151            259
                                                       ---------      ---------
     Total revenues                                    $  44,715      $  37,660
                                                       =========      =========

REVENUES
Real Estate                                            $   1,919      $   1,977
Structured Finance Group                                   1,093            999
GE Equity                                                   (126)         1,079
Other Specialized Financing                                   44             50
                                                       ---------      ---------
     Total revenues                                    $   2,930      $   4,105
                                                       =========      =========

NET EARNINGS (a)
Real Estate                                            $     489      $     374
Structured Finance Group                                     386            344
GE Equity                                                   (270)           525
Other Specialized Financing                                  (12)            (3)
                                                       ---------      ---------
     Net earnings                                      $     593      $   1,240
                                                       =========      =========

(a)  Charges of $103  million  and $49  million in 2001 and 2000,  respectively,
     were not  allocated  to this  segment  and are  included  in the All  Other
     operating segment.

- --------------------------------------------------------------------------------
SPECIALTY INSURANCE

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
Mortgage Insurance                                     $   5,664      $   5,007
GE Global Insurance Holdings                              46,606         39,723
Other Specialty Insurance                                  6,471          7,378
                                                       ---------      ---------
     Total assets                                      $  58,741      $  52,108
                                                       =========      =========

REVENUES
Mortgage Insurance                                     $   1,075      $     973
GE Global Insurance Holdings                               9,453         10,223
Other Specialty Insurance                                    536            682
                                                       ---------      ---------
     Total revenues                                    $  11,064      $  11,878
                                                       =========      =========
NET EARNINGS (a)
Mortgage Insurance                                     $     407      $     356
GE Global Insurance Holdings                                  32            505
Other Specialty Insurance                                    169            133
                                                       ---------      ---------
     Net earnings                                      $     608      $     994
                                                       =========      =========

(a)  Charges of $170 million in 2001 were not  allocated to this segment and are
     included in the All Other operating segment.

<PAGE>


- --------------------------------------------------------------------------------
ALL OTHER

For the years ended December 31 (In millions)               2001           2000
                                                       ---------      ---------
ASSETS
IT Solutions                                           $   2,226      $   3,395
Other                                                      5,418          4,214
                                                       ---------      ---------
 Total assets                                          $   7,644      $   7,609
                                                       =========      =========

REVENUES
IT Solutions                                           $   4,180      $   7,072
Other                                                        507          5,561
                                                       ---------      ---------
 Total revenues                                        $   4,687      $  12,633
                                                       =========      =========

NET EARNINGS
IT Solutions                                           $      47      $    (152)
Other                                                       (696)          (444)
                                                       ---------      ---------
 Net earnings                                          $    (649)     $    (596)
                                                       =========      =========


- --------------------------------------------------------------------------------
CONSOLIDATED

<TABLE>
<CAPTION>

                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
                                               -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>

ASSETS
Consumer Services                                  $ 153,966           $ 157,071           $ 160,198           $ 162,621
Equipment Management                                  45,187              46,790              48,725              49,956
Mid-Market Financing                                  72,569              78,035              82,814             101,807
Specialized Financing                                 38,585              36,912              38,151              44,715
Specialty Insurance                                   53,139              52,293              57,825              58,741
All Other                                              6,359               5,260               2,881               7,644
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $ 369,805           $ 376,361           $ 390,594           $ 425,484
                                                   =========           =========           =========           =========

REVENUES
Consumer Services                                  $   5,692           $   5,618           $   5,494           $   5,901
Equipment Management                                   1,845               1,768               1,787               2,872
Mid-Market Financing                                   1,951               1,920               2,246               2,578
Specialized Financing                                    835                 727                 664                 704
Specialty Insurance                                    2,888               2,981               2,102               3,093
All Other                                              1,512               1,385               1,005                 785
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $  14,723           $  14,399           $  13,298           $  15,933
                                                   =========           =========           =========           =========

NET EARNINGS
Consumer Services                                  $     648           $     586           $     622           $     611
Equipment Management                                     306                 360                 305                 761
Mid-Market Financing                                     292                 277                 383                 435
Specialized Financing                                    119                 161                 182                 131
Specialty Insurance                                      270                 279                 (57)                116
All Other                                                (95)                (52)                 12                (514)
                                                   ---------           ---------           ---------           ---------
 Total earnings before accounting changes          $   1,540           $   1,611           $   1,447           $   1,540
Cumulative effect of accounting changes                 (169)               --                  --                  --
                                                   ---------           ---------           ---------           ---------
 Net earnings                                          1,371               1,611               1,447               1,540
                                                   ---------           ---------           ---------           ---------
 Amortization of goodwill                               (139)               (134)               (146)               (133)
                                                   ---------           ---------           ---------           ---------
   Net earnings - as reported                      $   1,232           $   1,477           $   1,301           $   1,407
                                                   =========           =========           =========           =========
</TABLE>



<PAGE>


- --------------------------------------------------------------------------------
CONSUMER SERVICES

<TABLE>
<CAPTION>

                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
Global Consumer Finance                            $  36,344           $  39,518           $  42,346           $  43,893
GE Financial Assurance                                92,112              93,460              95,506              96,759
GE Card Services                                      19,587              19,227              18,404              19,084
Other Consumer Services                                5,923               4,866               3,942               2,885
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $ 153,966           $ 157,071           $ 160,198           $ 162,621
                                                   =========           =========           =========           =========

REVENUES
Global Consumer Finance                            $   1,318           $   1,370           $   1,376           $   1,497
GE Financial Assurance                                 3,100               3,198               3,084               3,444
GE Card Services                                       1,122                 956                 967                 902
Other Consumer Services                                  152                  94                  67                  58
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $   5,692           $   5,618           $   5,494           $   5,901
                                                   =========           =========           =========           =========
NET EARNINGS
Global Consumer Finance                            $     297           $     242           $     271           $     229
GE Financial Assurance                                   159                 149                 169                 249
GE Card Services                                         177                 187                 184                 121
Other Consumer Services                                   15                   8                  (2)                 12
                                                   ---------           ---------           ---------           ---------
 Net earnings                                      $     648           $     586           $     622           $     611
                                                   =========           =========           =========           =========
</TABLE>

- --------------------------------------------------------------------------------
EQUIPMENT MANAGEMENT

<TABLE>
<CAPTION>

                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
Aviation Services (GECAS)                          $  18,473           $  19,633           $  20,762           $  24,546
Americom                                               2,240               2,349               2,384                   0
Other Equipment Management                            24,474              24,808              25,579              25,410
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $  45,187           $  46,790           $  48,725           $  49,956
                                                   =========           =========           =========           =========

REVENUES
Aviation Services (GECAS)                          $     516           $     589           $     497           $     571
Americom                                                 237                 118                 131                  54
Other Equipment Management                             1,092               1,061               1,159               2,247
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $   1,845           $   1,768           $   1,787           $   2,872
                                                   =========           =========           =========           =========


  NET EARNINGS
  Aviation Services (GECAS)                        $     130           $     155           $      88           $     102
  Americom                                                91                  34                 109                 664
  Other Equipment Management                              85                 171                 108                  (5)
                                                   ---------           ---------           ---------           ---------
   Net earnings                                    $     306           $     360           $     305           $     761
                                                   =========           =========           =========           =========
</TABLE>



<PAGE>


- --------------------------------------------------------------------------------
MID-MARKET FINANCING

<TABLE>
<CAPTION>

                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
Commercial Equipment Financing                     $  38,553           $  42,971           $  48,027           $  53,386
Commercial Finance                                    17,432              16,972              16,590              25,668
Vendor Financial Services                             16,584              18,092              18,196              20,941
Other Mid-Market Financing                                 -                   -                   1               1,812
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $  72,569           $  78,035           $  82,814           $ 101,807
                                                   =========           =========           =========           =========

REVENUES
Commercial Equipment Financing                     $     956           $     997           $   1,240           $   1,342
Commercial Finance                                       524                 436                 473                 353
Vendor Financial Services                                471                 487                 533                 604
Other Mid-Market Financing                                 -                   -                   -                 279
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $   1,951           $   1,920           $   2,246           $   2,578
                                                   =========           =========           =========           =========

Net Earnings
Commercial Equipment Financing                     $     120           $     119           $     186           $     217
Commercial Finance                                       113                  92                 115                  48
Vendor Financial Services                                 57                  62                  80                 121
Other Mid-Market Financing                                 2                   4                   2                  49
                                                   ---------           ---------           ---------           ---------
 Net earnings                                      $     292           $     277           $     383           $     435
                                                   =========           =========           =========           =========

</TABLE>

- --------------------------------------------------------------------------------
SPECIALIZED FINANCING

<TABLE>
<CAPTION>
                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
Real Estate                                        $  21,886           $  19,985           $  21,184           $  23,861
Structured Finance Group                              12,165              12,678              13,217              17,130
GE Equity                                              4,303               4,023               3,592               3,573
Other Specialized Financing                              231                 226                 158                 151
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $  38,585           $  36,912           $  38,151           $  44,715
                                                   =========           =========           =========           =========

REVENUES
Real Estate                                        $     598           $     461           $     471           $     389
Structured Finance Group                                 312                 275                 275                 231
GE Equity                                                (89)                (21)                (83)                 67
Other Specialized Financing                               14                  12                   1                  17
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $     835           $     727           $     664           $     704
                                                   =========           =========           =========           =========

Net Earnings
Real Estate                                        $     132           $     123           $     170           $      64
Structured Finance Group                                 106                 106                 113                  61
GE Equity                                               (117)                (64)                (98)                  9
Other Specialized Financing                               (2)                 (4)                 (3)                 (3)
                                                   ---------           ---------           ---------           ---------
 Net earnings                                      $     119           $     161           $     182           $     131
                                                   =========           =========           =========           =========
</TABLE>



<PAGE>


- --------------------------------------------------------------------------------
SPECIALTY INSURANCE
<TABLE>
<CAPTION>

                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
Mortgage Insurance                                 $   5,123           $   5,321           $   5,550           $   5,664
GE Global Insurance Holdings                          40,787              40,157              45,888              46,606
Other Specialty Insurance                              7,229               6,815               6,387               6,471
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $  53,139           $  52,293           $  57,825           $  58,741
                                                   =========           =========           =========           =========

REVENUES
Mortgage Insurance                                 $     309           $     270           $     247           $     249
GE Global Insurance Holdings                           2,497               2,565               1,684               2,707
Other Specialty Insurance                                 82                 146                 171                 137
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $   2,888           $   2,981           $   2,102           $   3,093
                                                   =========           =========           =========           =========

NET EARNINGS
Mortgage Insurance                                 $     124           $      93           $     114           $      76
GE Global Insurance Holdings                             146                 140                (229)                (25)
Other Specialty Insurance                               --                    46                  58                  65
                                                   ---------           ---------           ---------           ---------
 Net earnings                                      $     270           $     279           $     (57)          $     116
                                                   =========           =========           =========           =========
</TABLE>


<TABLE>
<CAPTION>

- --------------------------------------------------------------------------------
ALL OTHER
                                                                                 2001
                                               -------------------------------------------------------------------------
(in millions)                                  FIRST QUARTER      SECOND QUARTER       THIRD QUARTER      FOURTH QUARTER
- -------------                                  -------------      --------------       -------------      --------------
<S>                                                <C>                 <C>                 <C>                 <C>
ASSETS
IT Solutions                                       $   2,929           $   2,494           $   2,325           $   2,226
Other                                                  3,430               2,766                 556               5,418
                                                   ---------           ---------           ---------           ---------
 Total assets                                      $   6,359           $   5,260           $   2,881           $   7,644
                                                   =========           =========           =========           =========

REVENUES
IT Solutions                                       $   1,221           $   1,090           $     905           $     964
Other                                                    291                 295                 100                (179)
                                                   ---------           ---------           ---------           ---------
 Total revenues                                    $   1,512           $   1,385           $   1,005           $     785
                                                   =========           =========           =========           =========

NET EARNINGS
IT Solutions                                       $      (3)          $      (4)          $      (3)          $      57
Other                                                    (92)                (48)                 15                (571)
                                                   ---------           ---------           ---------           ---------
 Total net earnings                                $     (95)          $     (52)          $      12           $    (514)
                                                   =========           =========           =========           =========
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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