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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GE Aerospace | NYSE:GE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.85 | 1.14% | 164.49 | 165.74 | 162.0101 | 165.30 | 3,967,223 | 01:00:00 |
|
Page
Number(s) |
|
|
Report of Independent Registered Public Accounting Firm
|
3
|
|
|
Financial Statements:
|
|
Statements of Net Assets Available for Plan Benefits
as of December 31, 2017 and 2016 |
4
|
|
|
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2017 and 2016 |
5
|
|
|
Notes to Financial Statements
|
6 - 18
|
|
|
Supplemental Schedule:
(i)
|
|
Schedule H, Line 4i- Schedule of Assets (Held at End of Year)
as of December 31, 2017 |
19 - 23
|
/s/ KPMG LLP
|
KPMG LLP
|
|
2017
|
|
2016
|
||||
Assets:
|
|
|
|
||||
|
|
|
|
||||
Investments at fair value (notes 4 and 5)
|
$
|
27,760,962
|
|
|
$
|
29,063,617
|
|
Notes receivable from participants
|
390,087
|
|
|
407,309
|
|
||
Employer contribution receivable
|
4,034
|
|
|
3,448
|
|
||
Accrued dividends and interest
|
37,015
|
|
|
83,292
|
|
||
Other assets
|
26,724
|
|
|
35,695
|
|
||
Total assets
|
28,218,822
|
|
|
29,593,361
|
|
||
|
|
|
|
||||
|
|
|
|
||||
Liabilities:
|
|
|
|
||||
|
|
|
|
||||
Other liabilities
|
21,625
|
|
|
25,079
|
|
||
Total liabilities
|
21,625
|
|
|
25,079
|
|
||
|
|
|
|
||||
Net assets available for plan benefits
|
$
|
28,197,197
|
|
|
$
|
29,568,282
|
|
|
2017
|
|
2016
|
||||
Additions to net assets attributed to:
|
|
|
|
||||
Investment income:
|
|
|
|
||||
Net appreciation (depreciation) in fair value of investments
|
$
|
(2,275,817
|
)
|
|
$
|
1,258,985
|
|
Interest and dividend income:
|
|
|
|
||||
Common stock
|
264,384
|
|
|
322,885
|
|
||
Registered investment companies
|
755,977
|
|
|
351,225
|
|
||
Other investments
|
26,269
|
|
|
18,992
|
|
||
|
(1,229,187
|
)
|
|
1,952,087
|
|
||
|
|
|
|
||||
Interest on notes receivable from participants
|
16,523
|
|
|
18,157
|
|
||
|
|
|
|
||||
Contributions:
|
|
|
|
||||
Employee
|
1,010,309
|
|
|
1,084,832
|
|
||
Employer
|
463,904
|
|
|
487,102
|
|
||
|
1,474,213
|
|
|
1,571,934
|
|
||
|
|
|
|
||||
Total additions
|
261,549
|
|
|
3,542,178
|
|
||
|
|
|
|
||||
Deductions from net assets attributed to:
|
|
|
|
||||
Participant withdrawals
|
3,179,909
|
|
|
2,627,268
|
|
||
|
|
|
|
||||
Net increase (decrease) before asset transfers
|
(2,918,360
|
)
|
|
914,910
|
|
||
|
|
|
|
||||
Transfers from other qualified plans (note 3)
|
1,547,275
|
|
|
—
|
|
||
|
|
|
|
||||
Net increase (decrease) after asset transfers
|
(1,371,085
|
)
|
|
914,910
|
|
||
|
|
|
|
|
|||
Net assets available for plan benefits at:
|
|
|
|
|
|
||
Beginning of year
|
29,568,282
|
|
|
28,653,372
|
|
||
End of year
|
$
|
28,197,197
|
|
|
$
|
29,568,282
|
|
(1)
|
Description of the Plan
|
(a)
|
General Electric Common Stock Fund (the “GE Stock Fund”) – The GE Stock Fund invests at least 98% of its assets in GE common stock, with the remainder held in cash or cash equivalents to provide for the GE Stock Fund’s estimated liquidity needs.
|
(b)
|
GE RSP Income Fund (the “Income Fund”) – The Income Fund managed by SSGA FM seeks a high interest rate of return over a long-term period consistent with the preservation of capital by investing at least 80% of its net assets in debt securities.
|
(c)
|
GE RSP U.S. Equity Fund (the “U.S. Equity Fund”) – The U.S. Equity Fund managed by SSGA FM seeks long-term growth of capital and income by primarily investing in equity securities of U.S. companies, such as common and preferred stocks.
|
(d)
|
State Street Institutional International Equity Fund, formerly GE Institutional International Equity Fund (the “International Fund”) – The International Fund managed by SSGA FM seeks long-term growth of capital by investing at least 80% of its net assets in equity securities, such as common and preferred stocks. The International Fund invests primarily in companies in both developed and emerging market countries outside the United States.
|
(e)
|
State Street Institutional Small-Cap Equity Fund, formerly GE Institutional Small-Cap Equity Fund (the “Small-Cap Fund”) – The Small-Cap Fund managed by SSGA FM seeks long-term growth of capital by investing at least 80% of its net assets in equity securities of smaller companies, such as common and preferred stocks.
|
(f)
|
State Street Institutional Strategic Investment Fund, formerly GE Institutional Strategic Investment Fund (the “Strategic Investment Fund”) – The Strategic Investment Fund managed by SSGA FM seeks maximum total return (total return includes both income and capital appreciation) by investing primarily in a combination of U.S. and Non-U.S. equity and debt securities and cash. The Strategic Investment Fund was liquidated in November 2017 and eliminated as an investment option. Proceeds were invested in the Target Retirement Fund consistent with the participant’s age.
|
(g)
|
Non-U.S. Equity Index Fund – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the Morgan Stanley Capital International All Country World Index (“MSCI ACWI”) ex-U.S. Net Dividend Return Index by investing in a portfolio of international equity securities to approximate, as closely as practicable, the capitalization weighted total rates of return of the markets in certain countries for publicly traded equity securities.
|
(h)
|
U.S. Aggregate Bond Index Fund – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the Bloomberg Barclays U.S. Aggregate Bond Index by investing in a representative sample of securities that collectively has an investment profile similar to the index.
|
(i)
|
U.S. Large-Cap Equity Index Fund – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the S&P 500 Index by investing in large companies within the United States.
|
(j)
|
U.S. Mid-Cap Equity Index Fund – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the S&P Mid-Cap 400 Index by investing in medium-sized companies within the United States.
|
(k)
|
U.S. Small-Cap Equity Index Fund – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the Russell 2000 Index by investing in smaller companies within the United States.
|
(l)
|
U.S. Treasury Inflation-Protected Securities Index Fund (the “U.S. TIPS Index Fund”) – A collective investment trust maintained and managed by BlackRock that seeks investment results that correspond generally to the investment performance of the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities Index by investing in substantially all of the securities that make up the index.
|
(m)
|
GE RSP Short-Term Interest Fund (the “ST Interest Fund”) – The ST Interest Fund managed by SSGA Trust Company seeks to preserve principal and achieve a market-related interest rate of return by investing primarily in a variety of investment-grade debt securities, such as U.S. government securities, asset-backed securities, corporate bonds and money market instruments.
|
(n)
|
GE RSP Government Money Market Fund (the “Money Market Fund”) – The Money Market Fund managed by SSGA Trust Company seeks a high level of current income consistent with the preservation of capital and maintenance of liquidity by investing at least 99.5% of its net assets in short-term U.S. government securities, cash and/or repurchase agreements that are collateralized by cash or U.S. government securities.
|
(o)
|
United States Savings Bonds (the “U.S. Bond Fund”) – The Savings Bonds available under this option are Series “EE” Savings Bonds issued by the U.S. Treasury. The Savings Bonds mature 30 years after their issue date and earn interest based on market yields for Treasury securities. Each May 1 and November 1, the U.S. Government sets the rates for the Savings Bonds that apply for the next six months. Principal and accrued interest are credited when the Savings Bond is redeemed or on its maturity date. Amounts held in the participant’s account insufficient to purchase a Savings Bond are invested in money market instruments and other short-term debt securities. The U.S. Bond Fund was liquidated in June 2017 and eliminated as an investment option. Proceeds were invested in the Money Market Fund
.
|
(p)
|
Target Retirement Date Funds (the “TRD Funds”) – The TRD Funds are daily valued separate accounts managed by AllianceBernstein. The investment objective of each TRD Fund is to seek the highest total return (total return includes capital appreciation and income) over time consistent with an appropriate degree of risk, and a specified allocation among various types of assets. To achieve its investment objective, each TRD Fund invests in a combination of underlying investment funds representing a variety of asset classes (the “Underlying Funds”). A TRD Fund’s asset allocation changes over time and is expected to gradually shift from a combination of Underlying Funds that emphasizes investment in stocks to a combination of Underlying Funds and invests in bonds, stocks, and short-term investments. Approximately 15 years after the target retirement date, the target asset allocation is expected to reach a “landing point” and become static. The suite of Target Retirement Date Funds includes the following:
|
(q)
|
Synchrony Stock Fund – The Synchrony Stock Fund was established on November 23, 2015 as a temporary investment option in connection with the Company’s one-time offer in 2015 to exchange shares of Synchrony Financial common stock for shares of GE common stock. The Synchrony Stock Fund invested at least 95% of its assets in Synchrony Financial common stock, with the remainder held in cash or cash equivalents to provide for the Synchrony Stock Fund’s estimated liquidity needs. As required by the terms of the Plan, the Synchrony Stock Fund was liquidated in November 2016 and eliminated as an investment option. Proceeds were invested in the TRD Fund consistent with the participant’s age.
|
(a)
|
Basis of Accounting
|
(b)
|
Investments
|
(c)
|
Fair Value Measurements
|
(e)
|
Participant Withdrawals
|
(f)
|
Management Estimates and Assumptions
|
|
|
2017
|
|
|
|
(in thousands)
|
|
|
|
|
|
GE Asset Management Plan for Affiliated GE Companies
|
$
|
1,190,404
|
|
GE Asset Maintenance Plan
|
|
332,400
|
|
Meridium, Inc. Employees’ Profit Sharing and 401(k) Plan
|
|
22,151
|
|
TriNet 401(k) Plan associated with Critical Technologies, Inc.
|
|
1,173
|
|
TriNet 401(k) Plan associated with ShipXpress, Inc.
|
|
1,058
|
|
TriNet 401(k) Plan associated with Bit Stew Systems (US) Inc.
|
|
89
|
|
|
$
|
1,547,275
|
|
|
2017
|
|
2016
|
||||
|
|
|
|
||||
|
(in thousands)
|
||||||
Common Stock:
|
|
|
|
||||
GE Common Stock
|
$
|
4,900,068
|
|
|
$
|
10,566,428
|
|
|
|
|
|
||||
Registered Investment Companies:
|
|
|
|
||||
GE RSP Income Fund
|
1,777,820
|
|
|
1,848,758
|
|
||
GE RSP U.S. Equity Fund
|
3,850,832
|
|
|
3,477,196
|
|
||
State Street Institutional International Equity Fund
|
1,163,552
|
|
|
1,019,943
|
|
||
State Street Institutional Small-Cap Equity Fund
|
1,328,184
|
|
|
1,299,060
|
|
||
State Street Institutional Strategic Investment Fund
|
—
|
|
|
585,341
|
|
||
Total Registered Investment Companies
|
8,120,388
|
|
|
8,230,298
|
|
||
|
|
|
|
||||
Collective Funds:
(a)
|
|
|
|
||||
Non-U.S. Equity Index Fund
|
2,037,953
|
|
|
1,028,277
|
|
||
U.S. Aggregate Bond Index Fund
|
1,468,424
|
|
|
819,493
|
|
||
U.S. Large-Cap Equity Index Fund
|
5,630,701
|
|
|
3,619,658
|
|
||
U.S. Mid-Cap Equity Index Fund
|
1,617,893
|
|
|
1,159,607
|
|
||
U.S. Small-Cap Equity Index Fund
|
1,155,818
|
|
|
736,780
|
|
||
U.S. Treasury Inflation-Protected Securities Index Fund
|
554,003
|
|
|
340,524
|
|
||
Total Collective Funds
|
12,464,792
|
|
|
7,704,339
|
|
||
|
|
|
|
||||
Other Investments:
(a)
|
|
|
|
||||
Short-Term Money Market Instruments
|
227,100
|
|
|
297,597
|
|
||
U.S. Treasury and U.S. Government Agency Debt Obligations
|
1,680,110
|
|
|
1,899,180
|
|
||
Commercial Mortgage-Backed, Corporate Notes and Asset-Backed Securities
|
368,504
|
|
|
302,572
|
|
||
U.S. Savings Bonds
|
—
|
|
|
63,203
|
|
||
Total Other Investments
|
2,275,714
|
|
|
2,562,552
|
|
||
|
|
|
|
||||
Total investments at fair value
|
$
|
27,760,962
|
|
|
$
|
29,063,617
|
|
|
|
|
|
||||
|
|
|
|
(a)
|
Target Retirement Date Funds are separate accounts that invest in a combination of Index Funds and the Money Market Fund representing a variety of asset classes. See note 1(p).
|
(5)
|
Fair Value Measurements
|
(a)
|
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for plan benefits.
|
(9)
|
Reconciliation of Financial Statements to Form 5500
|
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
|
|
|
|
||||
Total investments per financial statements
|
$
|
27,760,962
|
|
|
$
|
29,063,617
|
|
|
|
|
|
||||
Total notes receivable per financial statements
|
390,087
|
|
|
407,309
|
|
||
Deemed distributions
|
(10,777
|
)
|
|
(12,337
|
)
|
||
Total notes receivable per Form 5500
|
379,310
|
|
|
394,972
|
|
||
|
|
|
|
||||
Total investments per Form 5500
|
$
|
28,140,272
|
|
|
$
|
29,458,589
|
|
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
|
|
|
|
||||
Total deductions from net assets per financial statements
|
$
|
3,179,909
|
|
|
$
|
2,627,268
|
|
Deemed distributions offset against plan assets
|
(6,355
|
)
|
|
(3,734
|
)
|
||
New deemed distributions
|
4,795
|
|
|
6,789
|
|
||
Total expenses per Form 5500
|
$
|
3,178,349
|
|
|
$
|
2,630,323
|
|
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
|
|
|
|
||||
Net assets available for plan benefits per the financial statements
|
$
|
28,197,197
|
|
|
$
|
29,568,282
|
|
Deemed distributions
|
(10,777
|
)
|
|
(12,337
|
)
|
||
Net assets available for plan benefits per the Form 5500
|
28,186,420
|
|
|
29,555,945
|
|
||
|
|
|
|
||||
Total net increase (decrease) after asset transfers per the financial statements
|
$
|
(1,371,085
|
)
|
|
$
|
914,910
|
|
Changes in deemed distributions
|
1,560
|
|
|
(3,055
|
)
|
||
Total net gain (loss) per the Form 5500
|
$
|
(1,369,525
|
)
|
|
$
|
911,855
|
|
Description
|
|
|
|
Shares
|
|
|
Fair Value*
|
|
|||
Corporate Stocks - Common
|
|
|
|
|
|
|
|
|
|||
GE Common Stock
|
|
|
|
280,806,190
|
|
|
$
|
4,900,068,007
|
|
(g)
|
|
|
|
|
|
|
|
|
|
|
|||
Registered Investment Companies
|
|
|
|
|
|
|
|
|
|||
GE RSP Income Fund
|
|
|
|
153,923,770
|
|
|
|
1,777,819,545
|
|
(b),(g)
|
|
GE RSP U.S. Equity Fund
|
|
|
|
73,419,103
|
|
|
|
3,850,831,933
|
|
(b),(g)
|
|
State Street Institutional International Equity Fund
|
|
|
|
84,193,310
|
|
|
|
1,163,551,538
|
|
(b),(g)
|
|
State Street Institutional Small-Cap Equity Fund
|
|
|
|
68,077,116
|
|
|
|
1,328,184,526
|
|
(b),(g)
|
|
Total Registered Investment Companies
|
|
|
|
|
|
|
8,120,387,542
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Collective Funds
|
|
|
|
|
|
|
|
|
|||
Non-U.S. Equity Index Fund
|
|
|
|
|
|
|
2,037,953,438
|
|
|
||
U.S. Aggregate Bond Index Fund
|
|
|
|
|
|
|
1,468,423,900
|
|
|
||
U.S. Large-Cap Equity Index Fund
|
|
|
|
|
|
|
5,630,700,575
|
|
|
||
U.S. Mid-Cap Equity Index Fund
|
|
|
|
|
|
|
1,617,893,413
|
|
|
||
U.S. Small-Cap Equity Index Fund
|
|
|
|
|
|
|
1,155,817,741
|
|
|
||
U.S. Treasury Inflation-Protected Securities Index Fund
|
|
|
|
|
|
|
554,002,546
|
|
|
||
Total Collective Funds
|
|
|
|
|
|
|
12,464,791,613
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Other Investments
|
|
|
|
|
|
|
|
|
|||
|
|
Rate of Interest
|
|
Maturity
|
|
|
Fair Value*
|
|
|||
Short-Term Money Market Instruments
|
|
|
|
|
|
|
|
|
|||
BNP Paribas S.A.
|
|
1.380
|
|
%
|
1/2/2018
|
|
|
$
|
36,030,000
|
|
|
Citigroup Global Markets, Inc.
|
|
1.390
|
|
|
1/2/2018
|
|
|
|
70,000,000
|
|
|
TD Securities USA LLC
|
|
1.390
|
|
|
1/2/2018
|
|
|
|
91,000,000
|
|
|
Merrill Lynch, Pierce, Fenner & Smith, Inc.
|
|
1.400
|
|
|
1/2/2018
|
|
|
|
27,000,000
|
|
|
State Street Corp.
|
|
0.120
|
|
|
1/2/2018
|
|
|
|
3,070,067
|
|
(b),(f),(g)
|
Total Short-Term Money Market Instruments
|
|
|
|
|
|
|
227,100,067
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||
U.S. Treasury and U.S. Government Agency Debt Obligations
|
|
|
|
|
|
|
|
|
|||
Federal Farm Credit Banks
|
|
1.350
|
|
|
11/14/2018
|
|
|
|
20,000,000
|
|
(d)
|
Federal Farm Credit Banks
|
|
1.438
|
|
|
8/30/2018
|
|
|
|
6,499,957
|
|
(d)
|
Federal Home Loan Banks
|
|
1.314
|
|
|
1/8/2018
|
|
|
|
35,002,363
|
|
(d)
|
Federal Home Loan Banks
|
|
1.564
|
|
|
3/28/2018
|
|
|
|
20,006,741
|
|
(d)
|
Federal Home Loan Banks
|
|
0.986
|
|
|
1/26/2018
|
|
|
|
15,000,000
|
|
(d)
|
Federal Home Loan Banks
|
|
1.023
|
|
|
2/9/2018
|
|
|
|
25,000,086
|
|
(d)
|
Federal Home Loan Banks
|
|
1.407
|
|
|
7/27/2018
|
|
|
|
35,000,710
|
|
(d)
|
Federal Home Loan Banks
|
|
1.399
|
|
|
1/29/2018
|
|
|
|
24,999,959
|
|
(d)
|
Federal Home Loan Banks
|
|
1.346
|
|
|
4/17/2018
|
|
|
|
30,000,000
|
|
(d)
|
Federal Home Loan Banks
|
|
1.407
|
|
|
4/26/2018
|
|
|
|
29,999,600
|
|
(d)
|
Federal Home Loan Banks
|
|
1.376
|
|
|
8/17/2018
|
|
|
|
12,100,825
|
|
(d)
|
Federal Home Loan Bank Discount Notes
|
|
1.099
|
|
|
1/9/2018
|
|
|
|
5,498,680
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.104
|
|
|
1/12/2018
|
|
|
|
3,498,840
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.308
|
|
|
2/2/2018
|
|
|
|
49,942,800
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.321
|
|
|
2/7/2018
|
|
|
|
26,963,925
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.320
|
|
|
2/9/2018
|
|
|
|
22,967,633
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.326
|
|
|
2/12/2018
|
|
|
|
14,977,163
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.331
|
|
|
3/2/2018
|
|
|
|
29,934,500
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.330
|
|
|
3/9/2018
|
|
|
|
49,878,330
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.348
|
|
|
3/14/2018
|
|
|
|
22,939,050
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.363
|
|
|
3/19/2018
|
|
|
|
7,977,071
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.362
|
|
|
3/21/2018
|
|
|
|
26,920,664
|
|
(c)
|
Federal Home Loan Bank Discount Notes
|
|
1.362
|
|
|
3/23/2018
|
|
|
|
29,909,618
|
|
(c)
|
Freddie Mac Discount Notes
|
|
1.301
|
|
|
2/23/2018
|
|
|
|
6,487,751
|
|
(c)
|
Freddie Mac Discount Notes
|
|
1.385
|
|
|
8/22/2018
|
|
|
|
35,000,000
|
|
(d)
|
Federal Home Loan Mortgage Corp.
|
|
7.000
|
|
|
11/1/2031
|
|
|
|
20,291
|
|
|
Federal Home Loan Mortgage Corp.
|
|
7.000
|
|
|
4/1/2032
|
|
|
|
221,400
|
|
|
Federal Home Loan Mortgage Corp.
|
|
7.000
|
|
|
6/1/2032
|
|
|
|
29,840
|
|
|
Federal Home Loan Mortgage Corp.
|
|
7.000
|
|
|
4/1/2036
|
|
|
|
74,947
|
|
|
Federal Home Loan Mortgage Corp.
|
|
7.500
|
|
|
1/1/2027
|
|
|
|
95,283
|
|
|
Federal Home Loan Mortgage Corp.
|
|
8.500
|
|
|
3/1/2027
|
|
|
|
5,430
|
|
|
|
|
|
|
|
|
|
|
|
Other Investments, continued
|
|
|
|
|
|
|
|
|
|||
Description
|
|
Rate of Interest
|
|
Maturity
|
|
|
Fair Value*
|
|
|||
U.S. Treasury and U.S. Government Agency Debt Obligations
|
|
|
|
|
|
|
|
|
|||
Federal Home Loan Mortgage Corp.
|
|
1.319
|
|
%
|
1/8/2018
|
|
|
$
|
9,150,426
|
|
(d)
|
Federal Home Loan Mortgage Corp.
|
|
1.123
|
|
|
7/17/2018
|
|
|
|
39,996,892
|
|
(d)
|
Federal Home Loan Mortgage Corp.
|
|
1.272
|
|
|
5/11/2018
|
|
|
|
24,600,000
|
|
(d)
|
Federal Home Loan Mortgage Corp.
|
|
2.427
|
|
|
12/15/2031
|
|
|
|
362,876
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
4.500
|
|
|
2/25/2040
|
|
|
|
2,017,484
|
|
(d)
|
Fannie Mae Discount Notes
|
|
1.217
|
|
|
1/2/2018
|
|
|
|
77,997,594
|
|
(c)
|
Fannie Mae Discount Notes
|
|
1.152
|
|
|
1/3/2018
|
|
|
|
3,099,805
|
|
(c)
|
Fannie Mae Discount Notes
|
|
1.292
|
|
|
2/28/2018
|
|
|
|
6,985,677
|
|
(c)
|
U.S. Treasury Bills
|
|
1.067
|
|
|
1/4/2018
|
|
|
|
74,993,437
|
|
(c)
|
U.S. Treasury Bills
|
|
1.310
|
|
|
3/1/2018
|
|
|
|
74,841,970
|
|
(c)
|
U.S. Treasury Bills
|
|
1.264
|
|
|
1/18/2018
|
|
|
|
49,972,434
|
|
(c)
|
U.S. Treasury Bills
|
|
1.131
|
|
|
1/25/2018
|
|
|
|
49,963,045
|
|
(c)
|
U.S. Treasury Bills
|
|
1.261
|
|
|
2/15/2018
|
|
|
|
49,922,500
|
|
(c)
|
U.S. Treasury Bills
|
|
1.310
|
|
|
2/22/2018
|
|
|
|
29,944,245
|
|
(c)
|
U.S. Treasury Bills
|
|
1.315
|
|
|
3/8/2018
|
|
|
|
74,822,499
|
|
(c)
|
U.S. Treasury Bills
|
|
1.343
|
|
|
3/15/2018
|
|
|
|
79,786,556
|
|
(c)
|
U.S. Treasury Bills
|
|
1.371
|
|
|
3/22/2018
|
|
|
|
66,805,889
|
|
(c)
|
U.S. Treasury Bills
|
|
1.265
|
|
|
4/19/2018
|
|
|
|
14,944,200
|
|
(c)
|
U.S. Treasury Bills
|
|
1.388
|
|
|
5/17/2018
|
|
|
|
29,845,867
|
|
(c)
|
U.S. Treasury Bills
|
|
1.061
|
|
|
1/2/2018
|
|
|
|
24,999,277
|
|
(c)
|
U.S. Treasury Notes
|
|
0.640
|
|
|
1/31/2018
|
|
|
|
14,753,809
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
1.326
|
|
|
1/11/2018
|
|
|
|
8,000,575
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
3/1/2029
|
|
|
|
41,014
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
6/1/2031
|
|
|
|
13,334
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
10/1/2031
|
|
|
|
227,660
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
4/1/2033
|
|
|
|
24,764
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
11/1/2033
|
|
|
|
218,933
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
3/1/2034
|
|
|
|
17,318
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
6/1/2034
|
|
|
|
36,726
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
1/1/2035
|
|
|
|
121,418
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
5/1/2035
|
|
|
|
77,842
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
5/1/2035
|
|
|
|
208,708
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
1/1/2036
|
|
|
|
225,496
|
|
|
Federal National Mortgage Assoc.
|
|
7.000
|
|
|
4/1/2036
|
|
|
|
100,847
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
11/1/2021
|
|
|
|
8,600
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
1/1/2025
|
|
|
|
39,656
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
7/1/2027
|
|
|
|
28,363
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
10/1/2030
|
|
|
|
22,766
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
2/1/2031
|
|
|
|
67,202
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
6/1/2032
|
|
|
|
73,283
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
4/1/2033
|
|
|
|
43,980
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
11/1/2033
|
|
|
|
24,819
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
3/1/2034
|
|
|
|
148,793
|
|
|
Federal National Mortgage Assoc.
|
|
7.500
|
|
|
5/1/2034
|
|
|
|
53,595
|
|
|
Federal National Mortgage Assoc.
|
|
8.000
|
|
|
3/1/2032
|
|
|
|
68,707
|
|
|
Federal National Mortgage Assoc.
|
|
8.000
|
|
|
5/1/2032
|
|
|
|
25,048
|
|
|
Federal National Mortgage Assoc.
|
|
8.000
|
|
|
11/1/2033
|
|
|
|
28,264
|
|
|
Federal National Mortgage Assoc.
|
|
8.500
|
|
|
8/1/2030
|
|
|
|
4,743
|
|
|
Federal National Mortgage Assoc.
|
|
3.290
|
|
|
7/1/2033
|
|
|
|
366,343
|
|
|
Federal National Mortgage Assoc.
|
|
2.897
|
|
|
6/1/2044
|
|
|
|
28,152,423
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
2.663
|
|
|
5/1/2033
|
|
|
|
502,294
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.497
|
|
|
6/1/2033
|
|
|
|
541,444
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.165
|
|
|
6/1/2033
|
|
|
|
472,643
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.435
|
|
|
5/1/2033
|
|
|
|
22,634
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.459
|
|
|
7/1/2033
|
|
|
|
248,815
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.515
|
|
|
6/1/2033
|
|
|
|
4,717
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.435
|
|
|
12/1/2032
|
|
|
|
284,080
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
3.324
|
|
|
6/1/2033
|
|
|
|
190,941
|
|
(d)
|
Federal National Mortgage Assoc.
|
|
4.465
|
|
|
6/1/2033
|
|
|
|
38,405
|
|
(d)
|
Government National Mortgage Assoc.
|
|
7.000
|
|
|
12/15/2018
|
|
|
|
7,951
|
|
|
Government National Mortgage Assoc.
|
|
7.000
|
|
|
11/15/2023
|
|
|
|
85,734
|
|
|
Other Investments, continued
|
|
|
|
|
|
|
|
|
|||
Description
|
|
Rate of Interest
|
|
Maturity
|
|
|
Fair Value*
|
|
|||
U.S. Treasury and U.S. Government Agency Debt Obligations
|
|
|
|
|
|
|
|
|
|||
Government National Mortgage Assoc.
|
|
7.000
|
|
%
|
3/15/2031
|
|
|
$
|
71,516
|
|
|
Government National Mortgage Assoc.
|
|
7.000
|
|
|
5/15/2032
|
|
|
|
84,473
|
|
|
Government National Mortgage Assoc.
|
|
7.000
|
|
|
11/15/2032
|
|
|
|
32,501
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
12/15/2018
|
|
|
|
7,806
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
1/15/2031
|
|
|
|
147,018
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
1/15/2031
|
|
|
|
40,897
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
3/15/2031
|
|
|
|
12,723
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
5/15/2031
|
|
|
|
35,625
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
7/15/2031
|
|
|
|
45,821
|
|
|
Government National Mortgage Assoc.
|
|
7.500
|
|
|
9/15/2031
|
|
|
|
136,988
|
|
|
U.S. Treasury Bond
|
|
2.750
|
|
|
8/15/2047
|
|
|
|
435,609
|
|
|
U.S. Treasury Notes
|
|
0.750
|
|
|
8/15/2019
|
|
|
|
25,489,759
|
|
(f)
|
U.S. Treasury Notes
|
|
0.875
|
|
|
6/15/2019
|
|
|
|
15,249,785
|
|
(f)
|
U.S. Treasury Notes
|
|
1.500
|
|
|
5/15/2020
|
|
|
|
73,137,169
|
|
|
U.S. Treasury Notes
|
|
1.625
|
|
|
10/15/2020
|
|
|
|
94,061,209
|
|
|
U.S. Treasury Notes
|
|
1.875
|
|
|
10/31/2022
|
|
|
|
10,388,682
|
|
|
U.S. Treasury Notes
|
|
2.000
|
|
|
2/15/2025
|
|
|
|
10,275,133
|
|
|
U.S. Treasury Notes
|
|
2.250
|
|
|
8/15/2027
|
|
|
|
22,807,045
|
|
|
Vendee Mortgage Trust
|
|
0.083
|
|
|
10/15/2026
|
|
|
|
19,869
|
|
(d),(e)
|
Total U.S. Treasury and U.S. Government Agency Debt Obligations
|
|
|
|
|
|
|
1,680,110,445
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Commercial Mortgage-Backed, Corporate Notes and Asset-Backed Securities
|
|
|
|
|
|
|
|
|
|||
Abbott Laboratories
|
|
2.350
|
|
|
11/22/2019
|
|
|
|
5,001,900
|
|
|
Abengoa Finance S.A.
|
|
—
|
|
|
—
|
|
|
|
28,566
|
|
|
Abengoa Finance S.A.
|
|
—
|
|
|
—
|
|
|
|
7,735
|
|
|
Abengoa Abenewco 2 SAU
|
|
1.500
|
|
|
3/31/2023
|
|
|
|
102,423
|
|
(a)
|
Allergan Funding SCS
|
|
2.350
|
|
|
3/12/2018
|
|
|
|
10,007,921
|
|
|
Amazon.com Inc.
|
|
1.900
|
|
|
8/21/2020
|
|
|
|
2,977,440
|
|
(a)
|
Amgen Inc.
|
|
1.900
|
|
|
5/10/2019
|
|
|
|
4,982,950
|
|
|
Anheuser-Busch InBev Finance Inc.
|
|
1.900
|
|
|
2/1/2019
|
|
|
|
1,995,920
|
|
|
Apple Inc.
|
|
2.500
|
|
|
2/9/2022
|
|
|
|
5,005,950
|
|
|
AT&T Inc.
|
|
1.750
|
|
|
1/15/2018
|
|
|
|
499,859
|
|
|
AT&T Inc.
|
|
2.450
|
|
|
6/30/2020
|
|
|
|
2,994,510
|
|
|
Bank of America NA
|
|
2.650
|
|
|
4/1/2019
|
|
|
|
4,475,477
|
|
|
Bank of America NA
|
|
2.369
|
|
|
7/21/2021
|
|
|
|
4,989,000
|
|
(d)
|
BAT Capital Corp.
|
|
2.297
|
|
|
8/14/2020
|
|
|
|
2,982,660
|
|
(a)
|
Baxalta Inc.
|
|
2.000
|
|
|
6/22/2018
|
|
|
|
7,999,280
|
|
|
Berkshire Hathaway Finance Corp.
|
|
1.700
|
|
|
3/15/2019
|
|
|
|
6,973,470
|
|
|
Broadcom Corp
|
|
2.200
|
|
|
1/15/2021
|
|
|
|
4,885,050
|
|
(a)
|
Capital One NA
|
|
2.350
|
|
|
8/17/2018
|
|
|
|
2,503,100
|
|
|
Charter Communications Operating LLC/Charter Communications Operating Capital
|
|
3.579
|
|
|
7/23/2020
|
|
|
|
2,538,750
|
|
|
Chevron Corp.
|
|
1.961
|
|
|
3/3/2020
|
|
|
|
4,980,200
|
|
|
Citigroup Inc.
|
|
2.050
|
|
|
12/7/2018
|
|
|
|
4,994,900
|
|
|
Citigroup Inc.
|
|
2.050
|
|
|
6/7/2019
|
|
|
|
9,969,000
|
|
|
Citigroup Inc.
|
|
2.900
|
|
|
12/8/2021
|
|
|
|
3,015,630
|
|
|
Comcast Corp.
|
|
5.700
|
|
|
5/15/2018
|
|
|
|
1,014,189
|
|
|
Credit Suisse Group Funding Guernsey Ltd.
|
|
3.125
|
|
|
12/10/2020
|
|
|
|
3,038,160
|
|
|
CVS Health Corp.
|
|
1.900
|
|
|
7/20/2018
|
|
|
|
6,998,390
|
|
|
Dell International LLC/EMC Corp.
|
|
3.480
|
|
|
6/1/2019
|
|
|
|
5,061,850
|
|
(a)
|
Discover Bank
|
|
2.600
|
|
|
11/13/2018
|
|
|
|
2,508,400
|
|
|
Dominion Energy Inc.
|
|
2.579
|
|
|
7/1/2020
|
|
|
|
1,499,580
|
|
|
EI du Pont de Nemours & Co.
|
|
1.907
|
|
|
5/1/2020
|
|
|
|
5,031,404
|
|
(d)
|
Emera US Finance LP
|
|
2.150
|
|
|
6/15/2019
|
|
|
|
4,977,300
|
|
|
Energy Transfer Partners LP
|
|
2.500
|
|
|
6/15/2018
|
|
|
|
5,008,150
|
|
|
Fortive Corp.
|
|
1.800
|
|
|
6/15/2019
|
|
|
|
3,971,680
|
|
|
General Motors Co.
|
|
3.500
|
|
|
10/2/2018
|
|
|
|
3,028,710
|
|
|
General Motors Financial Company Inc.
|
|
3.200
|
|
|
7/13/2020
|
|
|
|
3,037,560
|
|
|
Gilead Sciences Inc.
|
|
1.850
|
|
|
9/4/2018
|
|
|
|
5,998,440
|
|
|
Honeywell International Inc.
|
|
1.400
|
|
|
10/30/2019
|
|
|
|
4,941,650
|
|
|
ING Bank N.V.
|
|
2.450
|
|
|
3/16/2020
|
|
|
|
10,004,631
|
|
(a)
|
JPMorgan Chase & Co.
|
|
1.850
|
|
|
3/22/2019
|
|
|
|
9,964,300
|
|
|
Other Investments, continued
|
|
|
|
|
|
|
|
|
|||
Description
|
|
Rate of Interest
|
|
Maturity
|
|
|
Fair Value*
|
|
|||
Commercial Mortgage-Backed, Corporate Notes and Asset-Backed Securities
|
|
|
|
|
|
|
|
|
|||
Kraft Heinz Foods Co.
|
|
2.000
|
|
%
|
7/2/2018
|
|
|
$
|
9,997,500
|
|
|
Lockheed Martin Corp.
|
|
1.850
|
|
|
11/23/2018
|
|
|
|
4,990,900
|
|
|
McDonald's Corp.
|
|
2.100
|
|
|
12/7/2018
|
|
|
|
5,005,900
|
|
|
Medtronic Inc.
|
|
1.375
|
|
|
4/1/2018
|
|
|
|
998,970
|
|
|
Molson Coors Brewing Co.
|
|
1.450
|
|
|
7/15/2019
|
|
|
|
1,972,120
|
|
|
Morgan Stanley
|
|
2.450
|
|
|
2/1/2019
|
|
|
|
10,021,301
|
|
|
Morgan Stanley
|
|
2.750
|
|
|
5/19/2022
|
|
|
|
2,988,000
|
|
|
Newell Brands Inc.
|
|
2.600
|
|
|
3/29/2019
|
|
|
|
942,207
|
|
|
Northrop Grumman Corp.
|
|
2.080
|
|
|
10/15/2020
|
|
|
|
4,958,950
|
|
|
Rockwell Collins Inc.
|
|
1.950
|
|
|
7/15/2019
|
|
|
|
6,965,700
|
|
|
Shell International Finance BV
|
|
1.625
|
|
|
11/10/2018
|
|
|
|
4,985,850
|
|
|
Shire Acquisitions Investments Ireland DAC
|
|
1.900
|
|
|
9/23/2019
|
|
|
|
990,690
|
|
|
Sumitomo Mitsui Banking Corp.
|
|
2.250
|
|
|
7/11/2019
|
|
|
|
4,995,600
|
|
|
Sumitomo Mitsui Trust Bank Ltd.
|
|
2.050
|
|
|
3/6/2019
|
|
|
|
9,974,091
|
|
(a)
|
Teva Pharmaceutical Finance Netherlands III BV
|
|
1.700
|
|
|
7/19/2019
|
|
|
|
3,886,480
|
|
|
The Goldman Sachs Group Inc.
|
|
2.000
|
|
|
4/25/2019
|
|
|
|
8,966,340
|
|
|
The Goldman Sachs Group Inc.
|
|
2.905
|
|
|
7/24/2023
|
|
|
|
2,975,070
|
|
(d)
|
The Huntington National Bank
|
|
2.200
|
|
|
11/6/2018
|
|
|
|
5,002,000
|
|
|
The Sherwin-Williams Co.
|
|
2.250
|
|
|
5/15/2020
|
|
|
|
2,492,675
|
|
|
The Southern Co.
|
|
2.150
|
|
|
9/1/2019
|
|
|
|
2,884,375
|
|
|
The Toronto-Dominion Bank
|
|
1.750
|
|
|
7/23/2018
|
|
|
|
4,995,800
|
|
|
UBS Group Funding Switzerland AG
|
|
2.950
|
|
|
9/24/2020
|
|
|
|
3,031,259
|
|
(a)
|
United Technologies Corp.
|
|
1.500
|
|
|
11/1/2019
|
|
|
|
4,941,650
|
|
|
UnitedHealth Group Inc.
|
|
1.900
|
|
|
7/16/2018
|
|
|
|
5,000,450
|
|
|
Zimmer Biomet Holdings Inc.
|
|
2.000
|
|
|
4/1/2018
|
|
|
|
500,181
|
|
|
American Express Credit Account Master Trust 2017-6
|
|
2.040
|
|
|
5/15/2023
|
|
|
|
9,548,082
|
|
|
BA Credit Card Trust 2017-A2
|
|
1.840
|
|
|
1/17/2023
|
|
|
|
13,854,735
|
|
|
Chase Issuance Trust
|
|
1.360
|
|
|
4/15/2020
|
|
|
|
19,978,408
|
|
|
Citibank Credit Card Issuance Trust 2016-A1
|
|
1.750
|
|
|
11/19/2021
|
|
|
|
34,760,530
|
|
|
Citigroup Commercial Mortgage Trust 2013-GC15
|
|
1.129
|
|
|
9/10/2046
|
|
|
|
1,163,913
|
|
(d),(e)
|
JP Morgan Chase Commercial Mortgage Securities Trust 2007-C1
|
|
5.946
|
|
|
2/15/2051
|
|
|
|
4,738,175
|
|
(d)
|
Total Commercial Mortgage-Backed, Corporate Notes and Asset-Backed Securities
|
|
|
|
|
|
|
368,503,987
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Total Other Investments
|
|
|
|
|
|
|
2,275,714,499
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Total Investments
|
|
|
|
|
|
|
27,760,961,661
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Notes Receivable from Participants
|
|
Rate of Interest
|
|
Maturity
|
|
|
Fair Value*
|
|
|||
|
|
|
|
|
|
|
|
|
|||
Various (64,465 notes receivable)
|
|
3.25 - 9.51%
|
|
1 month - 30 yrs.
|
|
$
|
379,309,582
|
|
(g)
|
||
|
|
|
|
|
|
|
|
|
|||
Total Notes Receivable from Participants
|
|
|
|
|
|
|
379,309,582
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
Total Assets (Held at End of Year)
|
|
|
|
|
|
$
|
28,140,271,243
|
|
|
||
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Assets:
|
|
|
|
(a)
|
Pursuant to Rule 144A of the Securities Act of 1933, as amended, these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2017, these securities amounted to $39,019,404 or 5.87% of the net assets of the GE RSP Short-Term Interest Fund. These securities have been determined to be liquid using procedures established by the Fund's Board of Trustees.
|
(b)
|
Funds managed and administered by SSGA Funds Management (SSGA FM), an affiliate of State Street Corporation (SSC), the Funds' custodian and accounting agent.
|
(c)
|
Coupon amount represents effective yield.
|
(d)
|
Variable or floating rate of security. The stated rate represents the rate at December 31, 2017.
|
(e)
|
Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.
|
(f)
|
At December 31, 2017, a portion of this security was pledged to cover collateral requirements for futures.
|
(g)
|
Represents a party-in-interest to the Plan.
|
|
|
|
|
*
|
Cost omitted for participant directed investments
|
|
|
GE Retirement Savings Plan
|
|
|
|
|
|
|
|
|
|
June 14, 2018
|
|
/s/ Jan R. Hauser
|
|
Date
|
|
Jan R. Hauser
Vice President and Controller
General Electric Company
|
|
Exhibit Number
|
|
Description of the Exhibit
|
|
|
|
|
Consent of Independent Registered Public Accounting Firm
|
1 Year GE Aerospace Chart |
1 Month GE Aerospace Chart |
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