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I really need the answer, Thanks! Non-GAAP Disclosures General Electric (GE) disclosed the following non-GAAP reconciliation for its Industrial segment from its 2018 Form 10-K.
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Non-GAAP Disclosures General Electric (GE) disclosed the following non-GAAP reconciliation for its Industrial segment from its 2018 Form 10-K. $ millions GE Industrial earnings (loss) Less: Nonoperating pension benefit costs (net of tax) Less: Gains and impairments for disposed or held for sale businesses (net of tax) Less: Restructuring and other net of tax) Less: Goodwill impairments (net of tax) Less: GE Industrial U.S. tax reform enactment adjustment Adjusted GE Industrial earnings (loss) (Non-GAAP) 2018 2017 2016 $(18,117) $(1,841) $7,962 (1,922) (1,550) (1,344) 857 864 2,089 (2.948) (2.778) (2.483) (19,686) (1,017) (33) (4,905) $5,615 $7,545 $9,700 Required a. Explain how the non-GAAP items (in total) affected adjusted earnings each year. Net effect of non-GAAP adjustments in 2016: Increase adjusted net earnings Net effect of non-GAAP adjustments in 2017: Increase adjusted net earnings Net effect of non-GAAP adjustments in 2018: Increase adjusted net earnings b. Calculate net non-GAAP items as a percentage of net earnings for each year presented. Note: Round your answers to the nearest whole percentage point. Note: Do not use negative signs with your answers. Non-GAAP adjustments/Net earnings 115 % x 2018 2017 2016 305 96 X 64 96 X C. Calculate the year-over-year change in % terms) in reported net earnings for 2017 and 2018. Calculate the year-over-year change (in % terms) in the non-GAAP net income. Note: Round your answers to the nearest whole percentage point. Note: Use a negative sign to indicate lower performance over the previous year. Net earnings Non-GAAP income 2018 Year-over Year % Change 2017 Year-over Year % Change 096 x 096 x 096 X 096 XStep by Step Solution
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