The charges stem from GE's purchase of WMC Mortgage in 2004.
The company expects profits to drop in 2019, but cash flow to return to positive in 2020 and beyond.
Newly-minted CEO Larry Culp is in the midst of trying to turnaround the struggling conglomerate.
New CEO Larry Culp is rushing to pay off GE's massive debt obligations.
General Electric is downsizing plans for its world headquarters in Boston.
Here's a timeline of the slow demise of one of America's industrial icons.
GE is busy working with investment bankers on a potential restructuring plan.
GE's shares are down over 30 percent year-to-date.