General Electric Annual Report 2002 - New York University

General Electric Annual Report 2002

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TABLE OF CONTENTS

4 Letter to Stakeholders

11 Leadership Team

16 Breakthroughs

34 Our Businesses

Design: VSA Partners, Inc. Principal product photography: Christian Stoll Portrait photography: Gerald Forster Printing: Quebecor World Acme

39 Citizenship

40 Governance

43 Financial Section

FINANCIAL HIGHLIGHTS

CONSOLIDATED REVENUES

(In billions)

EARNINGS PER SHARE BEFORE

ACCOUNTING CHANGES

(In dollars)

GE/S&P CUMULATIVE DIVIDEND

GROWTH SINCE 1997

$138

$1.56

114%

115

1.30

95

92

1.04

76

69

0.78

57

46

0.52

38

23

0.26

19

98

99

00

01

02

98

99

00

01

02

98

GE

99

00

S&P 500

01

02

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Some companies manufacture locomotives, and some

engineer thermoplastics for a living.

Others design high-end cooktops; still others operate

national TV networks.

Not many, though, offer a full range of economy-fueling

financial services on a global scale.

Fewer still make jet engines.

Or sophisticated medical scanners.

Or multi-megawatt gas-fired power turbines.

And only one company ¡ª just one ¡ª delivers on all

these things.

Only GE.

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KEN BOYDA

President and CEO,

GE Interlogix

HENRY HUBSCHMAN

President and CEO,

GE Commercial Aviation Services

OMAR ISHRAK

President and CEO, Ultrasound,

GE Medical Systems

GEORGE OLIVER

Vice President,

GE Betz

Securing the world with

new technology

Keeping 1,100 aircraft

leased and flying

Bringing ultrasound¡¯s benefits to

the four corners of the earth

Building a new business out

of the universal solvent

2

BILL BANHOLZER

Vice President,

GE Plastics

DEE MELLOR

Vice President,

GE Medical Systems

STEVE SCHNEIDER

President and CEO,

GE China

WAYNE HEWETT

President,

GE Plastics Pacific

Hunting new molecules

for new uses

Building medical devices at

40 facilities in 10 countries

Preparing the way in China

for 5x5 in 2005

Leading GE in the world¡¯s

most vibrant plastics markets

GE 2002 ANNUAL REPORT

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NOW IS THE BEST TIME TO BE AT GE.

SUSAN PETERS

Vice President,

Executive Development

SUSAN TOWNSEND

Advanced Technology Leader,

Global Research Center

KATHY CASSIDY

Vice President

and Treasurer

STEVE ZWOLINSKI

President and CEO,

GE Wind Energy

JEFF ZUCKER

President,

NBC Entertainment

Grooming the leaders

of GE¡¯s future

Finding fuel in earth¡¯s most

abundant element ¡ª hydrogen

Maintaining GE¡¯s financial

strength and flexibility

Making power out

of thin air

Spotting the next must-see

TV program

DAN O¡¯CONNOR

President and CEO,

GE Consumer Finance Europe

LI HSI

Regional Sales Manager,

GE Aircraft Engines

RUBEN BERUMEN

President and CEO,

GE Power Controls

STEVE RAMSEY

Vice President,

Environmental Programs

Going from zero to

$700 million in five years

Winning the engines order

for China¡¯s regional jet

Increasing GE¡¯s presence

in Europe

Fulfilling GE¡¯s environmental,

health and safety commitments

GE 2002 ANNUAL REPORT

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