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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, 2018 and 2017 |
4
|
|
|
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2018 and 2017 |
5
|
|
|
Notes to Financial Statements
|
6 - 14
|
|
|
Supplemental Schedule:
(i)
|
|
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
as of December 31, 2018 |
15
|
/s/ KPMG LLP
|
KPMG LLP
|
|
|
|
|
||||
|
|
|
|
||||
|
2018
|
|
2017
|
||||
Assets:
|
|
|
|
||||
Investments at fair value (notes 3 and 4)
|
$
|
57,226,354
|
|
|
$
|
63,070,306
|
|
Notes receivable from participants
|
475,227
|
|
|
429,856
|
|
||
Accrued dividends and interest
|
4,463
|
|
|
42,724
|
|
||
|
|
|
|
||||
Net assets available for plan benefits
|
$
|
57,706,044
|
|
|
$
|
63,542,886
|
|
|
2018
|
|
2017
|
||||
Additions (reductions) to net assets attributed to:
|
|
|
|
||||
Investment income:
|
|
|
|
||||
Net appreciation (depreciation) in fair value of investments
|
$
|
(6,420,072
|
)
|
|
$
|
1,854,773
|
|
Dividend and interest income
|
1,146,302
|
|
|
1,337,966
|
|
||
|
(5,273,770
|
)
|
|
3,192,739
|
|
||
|
|
|
|
||||
Interest on notes receivable from participants
|
18,958
|
|
|
20,222
|
|
||
|
|
|
|
||||
Contributions:
|
|
|
|
||||
Employee
|
2,193,313
|
|
|
2,176,817
|
|
||
Employer
|
863,025
|
|
|
787,696
|
|
||
|
3,056,338
|
|
|
2,964,513
|
|
||
|
|
|
|
||||
Total additions (deductions)
|
(2,198,474
|
)
|
|
6,177,474
|
|
||
|
|
|
|
||||
Deductions from net assets attributed to:
|
|
|
|
||||
Benefits paid to participants
|
3,620,761
|
|
|
7,198,364
|
|
||
Expenses and loan fees
|
17,607
|
|
|
621
|
|
||
Total deductions
|
3,638,368
|
|
|
7,198,985
|
|
||
|
|
|
|
||||
Net decrease
|
(5,836,842
|
)
|
|
(1,021,511
|
)
|
||
|
|
|
|
||||
Net assets available for plan benefits at:
|
|
|
|
||||
Beginning of year
|
63,542,886
|
|
|
64,564,397
|
|
||
End of year
|
$
|
57,706,044
|
|
|
$
|
63,542,886
|
|
(1)
|
Description of the Plan
|
(a)
|
GE Common Stock Fund
- This fund is invested primarily in GE common stock, with the remainder held in cash or cash equivalents to provide for the GE Common Stock Fund’s estimated liquidity needs.
|
(b)
|
State Street Institutional Income Fund - This fund managed by State Street Global Advisors ("SSGA") 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)
|
State Street Institutional U.S. Equity Fund
- This fund managed by SSGA seeks long-term growth of capital and income by investing at least 80% of its net assets in equity securities of U.S. companies, such as common and preferred stocks.
|
(d)
|
State Street Institutional Strategic Investment Fund - This fund managed by SSGA 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. This fund was liquidated and eliminated as an investment option effective November 20, 2017.
|
(e)
|
American Funds Growth Fund of America - This fund seeks growth of capital by investing in companies with a history of rapidly growing earnings and generally higher price-to-earnings ratios.
|
(f)
|
Harbor International Fund - This fund invests primarily in common and preferred stocks of foreign large cap companies, including those located in countries with emerging markets.
|
(g)
|
American Funds Investment Company of America - This fund seeks long-term growth of capital and income. The fund invests primarily in common stocks, most of which have a history of paying dividends.
|
(h)
|
American Funds New Perspective Fund - This fund seeks long-term growth of capital and future income as its secondary objective. The fund normally invests in stocks of companies located around the world to take advantage of investment opportunities generated by changes in international trade patterns and economic and political relationships.
|
(i)
|
Vanguard Institutional Index Fund - This fund seeks to track the performance of the S&P 500 Index (the “Index”). The fund invests primarily in stocks in the Index in proportion to their weightings in the Index.
|
(j)
|
Vanguard Target Retirement Funds - The Vanguard Target Retirement Funds are a series of registered investment companies (“mutual funds”) that separately invest in up to five other Vanguard mutual funds. Because they invest
|
(k)
|
Stephens Mid Cap Growth Fund - This fund seeks long-term growth of capital. The fund invests at least 80% of its net assets primarily in common stock of U.S. companies with medium market capitalizations.
|
(l)
|
Vanguard Total Bond Market Index Admiral Fund - This fund seeks to track the performance of a benchmark index by investing in a wide spectrum of public, investment-grade, taxable fixed income securities in the United States. At least 80% of the fund’s assets will be invested in bonds held by the benchmark index.
|
(m)
|
Vanguard Extended Market Index Admiral Fund - This fund seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.
|
(n)
|
Vanguard Total International Stock Index Admiral Fund - This fund seeks to track the performance of a benchmark index by investing in stocks issued by companies located in developed and emerging markets, excluding the United States. The benchmark index includes approximately 5,500 stocks located in 46 countries.
|
(o)
|
Galliard Capital Management Stable Value Fund - This stable value fund’s primary objective is to preserve principal while achieving a rate of return competitive with rates earned over an extended period of time by comparable fixed income investment products. This fund invests primarily in pooled investment contracts with short-term maturities. This fund was an investment option through June 26, 2017.
|
(p)
|
Wells Fargo Stable Value Fund - This stable value fund’s primary objective is to preserve principal and provide the potential to achieve returns higher than other conservative investments. This fund invests primarily in instruments issued by highly rated financial institutions, such as guaranteed investment contracts, bank investment contracts, and security-backed investment contracts. This fund became an investment option on June 26, 2017.
|
(a)
|
Basis of Accounting
|
(b)
|
Investments
|
(c)
|
Fair Value Measurements
|
(d)
|
Notes Receivable from Participants
|
(e)
|
Payment of Benefits
|
(f)
|
Expenses
|
(g)
|
Management Estimates and Assumptions
|
|
|
|
|
||||
|
2018
|
|
2017
|
||||
|
|
|
|
||||
|
|
||||||
Common stock
|
$
|
2,538,410
|
|
|
$
|
6,088,602
|
|
Registered investment companies
|
44,440,597
|
|
|
46,309,120
|
|
||
Interest-bearing cash
|
138,847
|
|
|
201,811
|
|
||
Stable value fund
|
10,108,500
|
|
|
10,470,773
|
|
||
Total investments
|
$
|
57,226,354
|
|
|
$
|
63,070,306
|
|
(a)
|
The stable value fund is measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and is 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.
|
|
|
|
Redemption
|
|
Redemption
|
||||||||
|
|
2018
|
|
|
2017
|
|
Frequency
|
|
Notice period
|
||||
|
|
|
|
|
|
|
|
|
|||||
Stable value fund
|
$
|
10,108,500
|
|
|
$
|
10,470,773
|
|
|
|
Daily
|
|
|
12 months
|
(8)
|
Subsequent Events
|
|
2018
|
|
2017
|
||||
Total investments at fair value per financial statements
|
$
|
57,226,354
|
|
|
$
|
63,070,306
|
|
Notes receivable from participants
|
475,227
|
|
|
429,856
|
|
||
Total investments per Form 5500
|
$
|
57,701,581
|
|
|
$
|
63,500,162
|
|
(a)
|
|
(b) Identity of issue, borrower, lessor, or similar party
|
|
(c) Description of investment including maturity date, rate of interest, collateral, par or maturity value
|
|
(d) Current value**
|
||
|
|
|
|
|
|
|
|
|
*
|
|
GE Common Stock
|
|
Common stock, 335,325 shares
|
|
$
|
2,538,410
|
|
|
|
State Street Institutional Income Fund
|
|
Registered investment company, 304,003 shares
|
|
|
2,763,388
|
|
|
|
State Street Institutional U.S. Equity Fund
|
|
Registered investment company, 374,860 shares
|
|
|
3,834,820
|
|
|
|
American Funds Growth Fund of America
|
|
Registered investment company, 90,741 shares
|
|
|
3,879,163
|
|
|
|
Harbor International Fund
|
|
Registered investment company, 51,223 shares
|
|
|
1,727,764
|
|
|
|
American Funds Investment Company of America
|
|
Registered investment company, 138,434 shares
|
|
|
4,692,907
|
|
|
|
American Funds New Perspective Fund
|
|
Registered investment company, 107,529 shares
|
|
|
4,049,560
|
|
|
|
Vanguard Institutional Index Fund
|
|
Registered investment company, 47,731 shares
|
|
|
10,861,218
|
|
|
|
Vanguard Target Retirement Income Fund
|
|
Registered investment company, 22,641 shares
|
|
|
288,673
|
|
|
|
Vanguard Target Retirement 2015 Fund
|
|
Registered investment company, 20,898 shares
|
|
|
289,644
|
|
|
|
Vanguard Target Retirement 2020 Fund
|
|
Registered investment company, 63,004 shares
|
|
|
1,803,813
|
|
|
|
Vanguard Target Retirement 2025 Fund
|
|
Registered investment company, 66,710 shares
|
|
|
1,134,744
|
|
|
|
Vanguard Target Retirement 2030 Fund
|
|
Registered investment company, 22,226 shares
|
|
|
684,996
|
|
|
|
Vanguard Target Retirement 2035 Fund
|
|
Registered investment company, 24,201 shares
|
|
|
455,455
|
|
|
|
Vanguard Target Retirement 2040 Fund
|
|
Registered investment company, 27,988 shares
|
|
|
904,305
|
|
|
|
Vanguard Target Retirement 2045 Fund
|
|
Registered investment company, 24,229 shares
|
|
|
489,675
|
|
|
|
Vanguard Target Retirement 2050 Fund
|
|
Registered investment company, 11,786 shares
|
|
|
383,273
|
|
|
|
Vanguard Target Retirement 2055 Fund
|
|
Registered investment company, 9,391 shares
|
|
|
331,495
|
|
|
|
Vanguard Target Retirement 2060 Fund
|
|
Registered investment company, 2,746 shares
|
|
|
85,581
|
|
|
|
Vanguard Target Retirement 2065 Fund
|
|
Registered investment company, 1,123 shares
|
|
|
22,018
|
|
|
|
Stephens Mid Cap Growth Fund
|
|
Registered investment company, 181,584 shares
|
|
|
3,855,028
|
|
|
|
Vanguard Total Bond Market Index Admiral Fund
|
|
Registered investment company, 36,536 shares
|
|
|
381,798
|
|
|
|
Vanguard Extended Market Index Admiral Fund
|
|
Registered investment company, 15,427 shares
|
|
|
1,167,796
|
|
|
|
Vanguard Total International Stock Index Admiral Fund
|
|
Registered investment company, 13,933 shares
|
|
|
353,483
|
|
|
|
Mid-Atlantic Capital Group
|
|
Interest-bearing cash
|
|
|
138,847
|
|
|
|
Wells Fargo Stable Value Fund
|
|
Stable value fund, 188,953 shares
|
|
|
10,108,500
|
|
|
|
Total investments
|
|
|
|
|
57,226,354
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Notes receivable from participants (41 loans with interest rates
|
|
|
|
|||
|
|
from 4.25% to 6.25% from 1 month to 14 years)
|
|
|
|
|||
|
|
Total Assets (Held at End of Year)
|
|
|
|
|
475,227
|
|
|
|
|
|
|
|
$
|
57,701,581
|
|
*
|
|
Party in interest as defined by ERISA.
|
|
|
|
|
|
|
**
|
|
Cost omitted for participant directed investments.
|
|
|
|
|
|
|
|
The Middle River Aircraft Systems Salaried Savings Plan
|
|
|
|
|
|
|
|
|
|
June 26, 2019
|
|
/s/ Carol Price
|
|
Date
|
|
Carol Price
Lead Benefit Specialist
GE Aviation
|
|
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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