The increase in price was primarily at Energy and Aviation, while the effects of the weaker U.S. dollar were primarily at Oil & Gas and Energy. Revenues also increased as a result of acquisitions ($0.7 billion) and organic revenue growth ($0.6 billion), primarily at Energy Financial Services and Aviation Financial Services.

Segment profit rose 22% to $10.8 billion in 2007, compared with $8.8 billion in 2006, as higher volume ($1.3 billion), higher prices ($1.1 billion), productivity ($0.1 billion), the effects of the weaker U.S. dollar ($0.1 billion) and higher sales of minority interests in engine programs ($0.1 billion) more than offset the effects of higher material and other costs ($0.9 billion) at the industrial businesses in the segment. The increase in volume primarily related to Aviation, Energy and Oil & Gas. Segment profit from the financial services businesses increased $0.1 billion, primarily as a result of core growth at Aviation Financial Services.

Based on GE Infrastructure estimated net profit of $9 billion in 2007, there is one comparable company, United Technologies Corporation (NYSE: UTX) which has a P/E of 17.2 (down from 19.4 in July). Applying UTX's P/E to GE Infrastructure's earnings forecast yields an estimated value of $153.7 billion.

I would rather have a range of comparable companies, so I welcome suggestions for other publicly traded firms to use as a benchmark.