SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted Average Grant Date Fair Value and Share-Based Compensation Activity

The following tables provide the weighted average fair value of options, RSUs, and PSUs granted to employees during the three months ended June 30, 2024 and the related stock option valuation assumptions used in the Black-Scholes model.

WEIGHTED AVERAGE GRANT DATE FAIR VALUE

(In dollars)	June 30, 2024
Stock options	$	69.56
RSUs	166.35
PSUs	160.85

SHARE-BASED COMPENSATION ACTIVITY	Stock options						RSUs
	Shares (in thousands)	Weighted average exercise price (in dollars)		Weighted average contractual term (in years)	Intrinsic value (in millions)		Shares (in thousands)	Weighted average grant date fair value (in dollars)		Weighted average vesting period (in years)	Intrinsic value (in millions)
Outstanding at April 2, 2024(a)	2,514	$	101.32				3,797	$	59.34
Granted	1,450	170.03					653	166.35
Exercised	(412)	121.40					(288)	59.14
Forfeited	—	—					(38)	64.78
Expired	(9)	123.71					N/A	N/A
Outstanding at June 30, 2024	3,544	$	127.04	6.0	$	158	4,124	$	76.76	1.4	$	707
Exercisable at June 30, 2024	1,964	$	99.28	3.0	$	142	N/A	N/A		N/A	N/A
Expected to vest	1,078	$	158.76	9.7	$	14	3,771	$	75.21	1.3	$	647

(a) On April 2, 2024, the Company began trading as an independent, publicly traded company under the stock symbol “GEV” on the New York Stock Exchange. The shares outstanding as of April 2, 2024 pertain to GE equity-based awards issued by GE in prior periods to employees of the Company that were converted to GE Vernova equity-based awards as part of the Spin-Off. The conversion to GE Vernova awards was considered a modification of the original award. Incremental fair value recognized was immaterial.

Schedule of Stock Options Valuation Assumptions

KEY ASSUMPTIONS USED IN THE BLACK-SCHOLES VALUATION FOR STOCK OPTIONS	June 30, 2024
Risk-free interest rate	4.3	%
Dividend yield	—
Expected volatility	30	%
Expected term (in years)	6.8
Strike price (in dollars)	$170.03

Schedule of Compensation Expense and Other Stock-Based Compensation Data

SHARE-BASED COMPENSATION EXPENSE	Three months ended June 30, 2024
Share-based compensation expense (pre-tax)	$	54
Income tax benefits	(14)
Share-based compensation expense (after-tax)	$	40

OTHER SHARE-BASED COMPENSATION DATA	June 30, 2024
Unrecognized compensation expense as of June 30, 2024(a)	$	330
Cash received from stock options exercised for the three months ended June 30, 2024	50
Intrinsic value of stock options exercised and RSUs/PSUs vested in the three months ended June 30, 2024	71

(a) Amortized over a weighted average period of 1.3 years.