GE Restates Historical Financial Results Sharply Lower; Little or No Effect on Net Debt or Backlog
GE’s accounting choices for contract sales agreements and other activities have long been a sore spot, in part due to a persistent structural gap between its adjusted net income and free cash flow, typically amounting to 30% or more of adjusted net income over the past several years. We thus view GE’s decision to restate historical financial results as a “necessary but not sufficient†step by new CEO John Flannery to reset company priorities and prevent the misallocation of resources that marked...General Electric is a technology industrial company. The company's segments include: Power, which serves power generation, industrial, government and other customers with products and services related to energy production; Renewable Energy, which engineers and manufactures energy equipment and projects, grid solutions and digital services; Aviation, which designs and produces commercial and military aircraft engines, digital components, electric power and mechanical aircraft systems; Healthcare, which provides healthcare technologies; and Capital, which provides financial products and services that build on the company's industry capabilities in aviation, power, renewables, healthcare and other activities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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