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CONSOLIDATED AND COMBINED STATEMENT OF INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sales $ 8,204 $ 8,119 $ 15,463 $ 14,941
Cost of sales 6,502 6,973 12,611 12,876
Gross profit 1,702 1,147 2,852 2,065
Selling, general, and administrative expenses 938 1,272 2,140 2,458
Research and development expenses 237 216 474 418
Operating income (loss) 527 (341) 238 (811)
Interest and other financial charges – net 60 (21) 46 (42)
Non-operating benefit income 134 143 269 282
Other income (expense) – net (Note 19) 881 193 954 129
Income (loss) before income taxes 1,602 (27) 1,507 (442)
Provision (benefit) for income taxes (Note 15) 322 122 333 53
Net income (loss) 1,280 (149) 1,174 (495)
Net loss (income) attributable to noncontrolling interests 14 (2) (10) 30
Net income (loss) attributable to GE Vernova $ 1,294 $ (150) $ 1,164 $ (465)
Earnings (loss) per share attributable to GE Vernova (Note 18):        
Basic (in dollars per share) $ 4.72 $ (0.55) $ 4.25 $ (1.70)
Diluted (in dollars per share) $ 4.65 $ (0.55) $ 4.22 $ (1.70)
Weighted-average number of common shares outstanding:        
Basic (in shares) 274 274 274 274
Diluted (in shares) 278 274 276 274
Equipment        
Sales $ 4,194 $ 4,388 $ 7,811 $ 7,877
Cost of sales 3,853 4,621 7,545 8,196
Services        
Sales 4,010 3,732 7,652 7,065
Cost of sales $ 2,649 $ 2,352 $ 5,066 $ 4,680