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CONSOLIDATED AND COMBINED STATEMENT OF INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenues $ 8,913 $ 8,253 $ 24,376 $ 23,194
Cost of equipment and services 7,804 7,201 20,415 20,078
Gross profit 1,109 1,051 3,962 3,116
Selling, general, and administrative expenses 1,226 1,135 3,366 3,593
Research and development expenses 243 223 717 641
Operating income (loss) (359) (307) (122) (1,118)
Interest and other financial charges – net 36 (21) 82 (63)
Non-operating benefit income 130 134 399 415
Other income (expense) – net (Note 19) 71 179 1,025 307
Income (loss) before income taxes (122) (16) 1,385 (458)
Provision (benefit) for income taxes (Note 15) (23) 169 310 222
Net income (loss) (99) (185) 1,075 (680)
Net loss (income) attributable to noncontrolling interests 3 15 (7) 45
Net income (loss) attributable to GE Vernova $ (96) $ (170) $ 1,068 $ (635)
Earnings (loss) per share attributable to GE Vernova (Note 18):        
Basic (in dollars per share) $ (0.35) $ (0.62) $ 3.90 $ (2.32)
Diluted (in dollars per share) $ (0.35) $ (0.62) $ 3.85 $ (2.32)
Weighted-average number of common shares outstanding:        
Basic (in shares) 275 274 274 274
Diluted (in shares) 275 274 277 274
Equipment        
Total revenues $ 5,290 $ 4,869 $ 13,101 $ 12,746
Cost of equipment and services 5,076 5,005 12,621 13,201
Services        
Total revenues 3,623 3,383 11,276 10,448
Cost of equipment and services $ 2,728 $ 2,196 $ 7,794 $ 6,876