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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 | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 161.82 | 83 | 09:53:19 |
|
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 - 13
|
|
|
Supplemental Schedules:
(i)
|
|
Schedule H, Line 4i- Schedule of Assets (Held at End of Year)
as of December 31, 2018 |
14
|
|
|
Schedule H, Line 4a- Schedule of Delinquent Participant Contributions
for the Year Ended December 31, 2018
|
15
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/s/ KPMG LLP
|
KPMG LLP
|
|
|
|
|
||||
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||||
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2018
|
|
2017
|
||||
Assets:
|
|
|
|
||||
|
|
|
|
||||
Investments at fair value (notes 3 and 4)
|
$
|
15,753,429
|
|
|
$
|
16,589,282
|
|
Notes receivable from participants
|
862,766
|
|
|
858,315
|
|
||
Accrued dividends and interest
|
8,550
|
|
|
13,932
|
|
||
|
|
|
|
||||
Net assets available for plan benefits
|
$
|
16,624,745
|
|
|
$
|
17,461,529
|
|
|
|
|
|
|
2018
|
|
2017
|
||||
Additions (reductions) to net assets attributed to:
|
|
|
|
||||
Investment income:
|
|
|
|
||||
Net appreciation (depreciation) in fair value of investments
|
$
|
(1,478,721
|
)
|
|
$
|
1,052,745
|
|
Dividend and interest income
|
299,848
|
|
|
269,538
|
|
||
|
(1,178,873
|
)
|
|
1,322,283
|
|
||
|
|
|
|
||||
|
|
|
|
||||
Interest on notes receivable from participants
|
34,130
|
|
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41,601
|
|
||
|
|
|
|
||||
Contributions:
|
|
|
|
||||
Employee
|
1,177,281
|
|
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1,157,123
|
|
||
Employer
|
548,295
|
|
|
509,013
|
|
||
|
1,725,576
|
|
|
1,666,136
|
|
||
|
|
|
|
||||
Total additions
|
580,833
|
|
|
3,030,020
|
|
||
|
|
|
|
||||
Deductions from net assets attributed to:
|
|
|
|
||||
Benefits paid to participants
|
1,029,430
|
|
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635,871
|
|
||
Employee rollovers into other qualified plans
|
360,855
|
|
|
2,106,661
|
|
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Expenses and loan fees
|
27,332
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|
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36,451
|
|
||
Total deductions
|
1,417,617
|
|
|
2,778,983
|
|
||
|
|
|
|
||||
Net increase (decrease)
|
(836,784
|
)
|
|
251,037
|
|
||
|
|
|
|
||||
Net assets available for plan benefits at:
|
|
|
|
||||
Beginning of year
|
17,461,529
|
|
|
17,210,492
|
|
||
End of year
|
$
|
16,624,745
|
|
|
$
|
17,461,529
|
|
(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)
|
Vanguard 500 Index Admiral Fund - This fund seeks to track the performance of the S&P 500 Index. It attempts to replicate the target index by investing all or substantially all of its assets in the stocks that make up the S&P 500 Index.
|
(c)
|
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. This fund became an investment option on January 3, 2017.
|
(d)
|
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. This fund became an investment option on January 3, 2017.
|
(e)
|
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. This fund became an investment option on January 3, 2017.
|
(f)
|
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 in other mutual funds, rather than individual securities, each fund is considered a “fund of funds”. The suite of Target Retirement Funds include the following:
|
(g)
|
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.
|
(h)
|
DFA U.S. Targeted Value Portfolio Fund - This fund seeks long-term capital appreciation. It uses a market capitalization weighted approach by purchasing a broad and diverse group of readily marketable securities of U.S. small and mid-cap companies.
|
(i)
|
Franklin Templeton Mutual Global Discovery Fund - This fund seeks long term capital appreciation by investing significantly (up to 100%) in foreign equity and debt securities.
|
(j)
|
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.
|
(k)
|
State Street Institutional International Equity Fund - This fund managed by SSGA 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 fund invests primarily in companies in both developed and emerging market countries outside the United States.
|
(l)
|
American Beacon Stephens Mid-Cap Growth Institutional Fund - This fund seeks long-term growth of capital. It invests at least 80% of its net assets in equity securities of medium capitalization companies, which are companies whose market capitalization falls within the capitalization range of $1 billion and the market capitalization of the largest company in the Russell Midcap Index. This fund became an investment option on January 3, 2017.
|
(m)
|
JP Morgan U.S. Government Money Market Fund - This fund seeks high current income with liquidity and stability of principal. It invests exclusively in high-quality, short-term securities that are issued or guaranteed by the U.S. government or by U.S. government agencies and instrumentalities.
|
(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
|
(3)
|
Investments
|
|
2018
|
|
2017
|
||||
|
|
|
|
||||
|
|
|
|
||||
Common stock
|
$
|
289,228
|
|
|
$
|
593,649
|
|
Registered investment companies
|
12,493,300
|
|
|
13,006,032
|
|
||
Short-term investments
|
2,918,161
|
|
|
2,961,386
|
|
||
Interest-bearing cash
|
52,740
|
|
|
28,215
|
|
||
Total investments at fair value
|
$
|
15,753,429
|
|
|
$
|
16,589,282
|
|
(4)
|
Fair Value Measurements
|
(5)
|
Risk and Uncertainties
|
(8)
|
Subsequent Events
|
(9)
|
Reconciliation of Financial Statements to Form 5500
|
|
2018
|
|
2017
|
||||
|
|
||||||
|
|
|
|
||||
Total investments at fair value per financial statements
|
$
|
15,753,429
|
|
|
$
|
16,589,282
|
|
|
|
|
|
||||
Total notes receivable from participants
|
862,766
|
|
|
858,315
|
|
||
Deemed distributions
|
(19,213
|
)
|
|
(19,213
|
)
|
||
Total notes receivable per Form 5500
|
843,553
|
|
|
839,102
|
|
||
|
|
|
|
||||
Total investments per Form 5500
|
$
|
16,596,982
|
|
|
$
|
17,428,384
|
|
|
2018
|
|
2017
|
||||
|
|
||||||
|
|
|
|
||||
Total deductions from net assets per financial statements
|
$
|
1,417,617
|
|
|
$
|
2,778,983
|
|
Changes in deemed distributions
|
—
|
|
|
9,400
|
|
||
Total expenses per Form 5500
|
$
|
1,417,617
|
|
|
$
|
2,788,383
|
|
|
2018
|
|
2017
|
||||
|
|
|
|
||||
Net assets available for plan benefits per financial statements
|
$
|
16,624,745
|
|
|
$
|
17,461,529
|
|
Deemed distributions
|
(19,213
|
)
|
|
(19,213
|
)
|
||
Net assets available for plan benefits per Form 5500
|
16,605,532
|
|
|
17,442,316
|
|
||
|
|
|
|
||||
Total net increase (decrease) per financial statements
|
$
|
(836,784
|
)
|
|
$
|
251,037
|
|
Changes in deemed distributions
|
—
|
|
|
(9,400
|
)
|
||
Total net income (loss) per Form 5500
|
$
|
(836,784
|
)
|
|
$
|
241,637
|
|
|
|
|
|
(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, 38,207 shares
|
|
$
|
289,228
|
|
|
|
Vanguard 500 Index Admiral Fund
|
|
Registered investment company, 6,383 shares
|
|
|
1,477,219
|
|
|
|
Vanguard Extended Market Index Admiral Fund
|
|
Registered investment company, 2,429 shares
|
|
|
183,850
|
|
|
|
Vanguard Total International Stock Index Admiral Fund
|
|
Registered investment company, 4,264 shares
|
|
|
108,183
|
|
|
|
Vanguard Total Bond Market Index Admiral Fund
|
|
Registered investment company, 921 shares
|
|
|
9,621
|
|
|
|
Vanguard Target Retirement Income Fund
|
|
Registered investment company, 8,597 shares
|
|
|
109,613
|
|
|
|
Vanguard Target Retirement 2015 Fund
|
|
Registered investment company, 38,974 shares
|
|
|
540,184
|
|
|
|
Vanguard Target Retirement 2020 Fund
|
|
Registered investment company, 27,523 shares
|
|
|
787,985
|
|
|
|
Vanguard Target Retirement 2025 Fund
|
|
Registered investment company, 14,610 shares
|
|
|
248,522
|
|
|
|
Vanguard Target Retirement 2030 Fund
|
|
Registered investment company, 13,099 shares
|
|
|
403,697
|
|
|
|
Vanguard Target Retirement 2035 Fund
|
|
Registered investment company, 32,373 shares
|
|
|
609,269
|
|
|
|
Vanguard Target Retirement 2040 Fund
|
|
Registered investment company, 7,598 shares
|
|
|
245,493
|
|
|
|
Vanguard Target Retirement 2045 Fund
|
|
Registered investment company, 11,083 shares
|
|
|
223,983
|
|
|
|
Vanguard Target Retirement 2050 Fund
|
|
Registered investment company, 2,537 shares
|
|
|
82,512
|
|
|
|
Vanguard Target Retirement 2055 Fund
|
|
Registered investment company, 3,890 shares
|
|
|
137,310
|
|
|
|
Vanguard Target Retirement 2060 Fund
|
|
Registered investment company, 1,629 shares
|
|
|
50,774
|
|
|
|
American Funds Growth Fund of America
|
|
Registered investment company, 34,596 shares
|
|
|
1,478,983
|
|
|
|
DFA U.S. Targeted Value Portfolio Fund
|
|
Registered investment company, 59,532 shares
|
|
|
1,180,512
|
|
|
|
Franklin Templeton Mutual Global Discovery Fund
|
|
Registered investment company, 82,708 shares
|
|
|
2,222,357
|
|
|
|
State Street Institutional Income Fund
|
|
Registered investment company, 80,792 shares
|
|
|
734,400
|
|
|
|
State Street Institutional International Equity Fund
|
|
Registered investment company, 41,397 shares
|
|
|
467,788
|
|
|
|
American Beacon Stephens Mid-Cap Growth Institutional Fund
|
|
Registered investment company, 56,102 shares
|
|
|
1,191,045
|
|
|
|
JP Morgan U.S. Government Money Market Fund
|
|
Short-term investments, 2,918,161 shares
|
|
|
2,918,161
|
|
*
|
|
Mid-Atlantic Capital Group
|
|
Interest-bearing cash
|
|
|
52,740
|
|
|
|
Total investments
|
|
|
|
|
15,753,429
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Notes receivable from participants (187 loans with interest
|
|
|
|
|
|
|
|
|
rates from 4.25% to 8.00% from 1 month to 13 years)
|
|
|
|
|
843,553
|
|
|
|
Total Assets (Held at End of Year)
|
|
|
|
$
|
16,596,982
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Party in interest as defined by ERISA.
|
|
|
|
|
|
|
**
|
|
Cost omitted for participant directed investments.
|
|
|
|
|
|
Participant
Contributions Transferred Late to Plan
|
|
Contributions
Not Corrected
|
|
Contributions
Corrected
Outside VFCP
|
|
Contributions
Pending
Correction
in VFCP
|
|
Total Fully
Corrected
Under VFCP
and PTE
2002-51
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
$
|
139,798
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ITI 401(k) Plan
|
|
|
|
|
|
|
|
|
|
June 26, 2019
|
|
/s/ John Lu
|
|
Date
|
|
John Lu
Senior FP&A Staff Manager
|
|
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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