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Show GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES STATEMENT OF CHANGES IN FINANCIAL POSITION (Amounts in millions) Six months ended June 30 _Year ended December 31, _ (Unaudited) 1971 1972 1973 1974 1975 1975 1976 Source of funds: From operations: Net earnings............................................ $ 471.8 $ 530.0 $ 585.1 $ 608.1 $ 580.8 $204.0 $316.2 Less earnings retained by nonconsolidated finance affiliates....................... (7.2) (8.4) (10.9) (9.0) (10.4) (25.5) (26.4) Depreciation............................................ 273.6 314.3 334.0 376.2 418.6 195.6 195.1 Income tax timing differences................. _17.3 (23.8) _- _26.0 _(9.0) (15.1) (25.8) 755.5 812.1 908.2 1,001.3 980.0 359.0 459.1 Major domestic long-term borrowings.......... 200.0 125.0 300.0 Overseas Capital Corporation long-term 22.9 24.1 borrowings.................................................. 28.0 5.08 17.1 Increases in other long-term borrowingsnet..................................................... 140 5.3 2.0 3.9 Newly issued common stock.......................... 30.4 13.4 11.7 21.5 75.4 17.3 25.3 142.1 11.9 Decrease in inventories.................................. 40.8 Decrease in investments................................. 278.4 159.7 396.9 407.4 78.5 219, Other-net...................................................... _0.6 56.8 147.4 147.3 69.5 32.8 Total source of funds....................... 1,306.9 1,223.1 1,335.9 1,899.6 1,446.2 710.6 Application of funds: Plant and equipment additions...................... 553.1 435.9 598.6 671.8 448.2 177.9 142.8 Dividends declared......................................... 249.7 254.8 272.9 291.2 293.1 146.2 147.6 Investments..................................................... 83.4 40.6 114.8 .35.1 45.3 14.2 Reduction in major domestic long-term 92.3 7.7 borrowings.................................................. 23.7 17.2 31.5 17.0 122.2 92.3 7.7 Reduction in Overseas Capital Corporation -50.5 long-term borrowings................................. 4.5 3.9 17.7 27.0 Decrease in other long-term borrowingsnet..................................................... 7.3 5.9 Increase in current receivables....................... 167.6 184.7 251.1 416.7 3.6 170.0 51.9 Increase in inventories.................................... 56.4 147.3 227.2 270.8 - 168.0 Other-net...................................................... - - Total application of funds............... 1,138.4 1,084.4 1,533.9 1,829.6 970.2 634.1 523.9 Net increase (decrease) in cash, marketable $(198.0) $ 70.0 $ 476.0 $76.5 $222.2 securities, and short-term borrowings................ $ 168.5 $138.7 (398.0) 70.0 $476.0 Analysis of net increase (decrease) in cash, marketable securities and short-term borrowings Increase in cash and marketable securities.... $ 80.2 $ 8.3 $ 27.8 $ 49.7 $ 481.4 $136.6 $184.0 Decrease (increase) in short-term borrowing 88.3 130.4 (225.8) 20.3 (5.4) (60.1) 38.2 $ 168.5 $ 138.7 $(198.0) $ 70.0 $ 476.0 $ 76.5 $222.2 See notes to financial statements F-6 GENERAL ELECTRIC COMPANY AND CONSOLIDATED AFFILIATES STATEMENT OF CHANGES IN CAPITAL STOCK For the Five Years Ended December 31, 1975 (Audited) and the Six Months Ended June 30, 1976 (Unaudited) (Share amounts in thousands; dollar amounts in millions) Common Stock Treasury Stock Shares(a) Amount Shares(a) Amount Balance January 1, 1971................................................. 184,370 $460.9 2,743 $111.4 Shares issued for stock option plans and employee savings plans................................................................ 566 1.4 Treasury stock acquired.................................................. 759 42.9 Treasury stock used for incentive compensation plans and employee savings plans........................................ (667) (27.9) Treasury stock used for business combinations.............. (21) (0.9) Balance December 31, 1971............................................ 184,936 462.3 2,814 125.5 Shares issued for stock option plans and employee savings plans................................................................ 308 0.8 Treasury stock acquired.................................................. 1,053 69.4 Treasury stock used for incentive compensation plans and employee savings plans........................................ (971) (48.4) Balance December 31, 1972............................................ 185,244 463.1 2,896 1 46.5 Shares issued for stock option plans and employee savings plans................................................................ 274 0.7 Treasury stock acquired.................................................. 1,698 107.8 Treasury stock used for incentive compensation plans and employee savings plans........................................ (1,118) (63.6) Treasury stock used for business combinations.............. (105) (6.2) Balance December 31, 1973............................................ 185,518 463.8 3,371 184.5 Shares issued for stock option plans and employee savings plans................................................................ 549 1.4 Treasury stock acquired.................................................. 1,257 59.6 Treasury stock used for incentive compensation plans and employee savings plans........................................ (1,196) (67.3) Treasury stock used for business combinations.............. (16) (0.9) Balance December 31, 1974............................................ 186,067 465.2 3,416 1 75.9 Shares issued for stock option plans and employee savings plans................................................................ 1,653 4.1 Treasury stock acquired.................................................. 277 12.8 Treasury stock used for incentive compensation plans and employee savings plans........................................ (160) (8.6) Conversion of Overseas Capital Corporation 1985 bonds............................................................................ _ _ (171) (9.1) Balance December 31, 1975............................................ 187,720 469.3 3,362 171.0 Shares issued for stock option plans and employee savings plans................................................................ 496 1.2 Treasury stock acquired.................................................. 247 13.1 Treasury stock used for incentive compensation plans and employee savings plans........................................ (66) (2.8) Balance June 30, 1976 (Unaudited).............................. 188,216 $470.5 3,543 $181.3 (a) Adjusted for the two-for-one stock split in April 1971. See notes to financial statements. F-7 |