General Electric (GE) 2009年年度报告「NYSE」.pdf

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1、ResetReimagineReinvestRethinkResearchRelationshipsResponsibilityRenew2009 Annual ReportDesign:VSA Partners,Inc.Printing:Cenveo The Ronald Reagan Centennial 19112011“Progress is Our Most Important Product”was the GE tagline that Ronald Reagan repeated thousands of times as a GE roving ambassador and

2、host of GE Theater from 1954 to 1962.Reagan walked the floors of GE plants and talked to thousands of employees,honing the communications skills that would help lead him to the White House.In 2010,GE is proud to be the presenting sponsor of the celebration of the centennial of President Reagans birt

3、h,February 6,1911.For more information visit later this spring.Visit our interactive online annual report at to the customers,partners and GE employees who appear in this annual report for contributing their time and support.The paper used in this report was supplied by participants of the Sustainab

4、le Initiative Programs.The majority of the power utilized to manufacture this paper was renewable energy,produced with GEs wind and biogas technologies,and powered by GE steam engines and turbine engines.contents 1 Letter to Investors 10 Business Overview 24 Board of Directors 25 Financial Section 1

5、20 Corporate Information2009 Summaryfinancial and strategic highlightsStrong execution at GE Capital while keeping the Company safe and secure.Earned$2.3billionatCapitalFinance,profitableeveryquarter;earnedabout$11billionin200809 IncreasedTier1commonratioto7.7%;reducedleverage25%Increasedliquidity;f

6、ulfilledall2010long-termfundingneedsandreduceddependenceoncommercialpaperandlong-termdebt ReducedCapitalFinanceendingnetinvestmentby$53billion,excludingtheimpactofforeignexchangeSolid industrial performance despite tough economy.Industrialearnings,excludingNBCUniversal,grew1%;industrialmarginsof16.2