Last quarter, General Electric Co. reported earnings of 28 cents a share. Also 13 cents a share, 19 cents a share, and 15 cents a share—all at the same time.
The numbers represent profit that includes or excludes certain items, such as pension costs and discontinued operations. While most big U.S. companies release adjusted earnings that deviate from generally accepted accounting principles, GE stands out for the sheer head-scratching complexity of its quarterly reports. It's one of only 21 S&P 500 companies that release more than one adjusted EPS figure.
The methods have created headaches for investors, who say they obscure the company's true performance, and drawn fresh scrutiny from the Securities and Exchange Commission. Now, with a new CEO and finance chief in place and contending with a deepening share slump, GE is facing calls to bring more clarity to its balance sheet.
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