BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Financial Information for Assets and Liabilities of Businesses Held for Sale

ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE	March 31, 2023		December 31, 2022
Current receivables, inventories and contract assets	$	527	$	495
Non-current captive insurance investment securities	578		554
Property, plant and equipment and intangible assets - net	240		232
Valuation allowance on disposal group classified as held for sale	(72)		(17)
All other assets	80		111
Assets of businesses held for sale	$	1,353	$	1,374
Progress collections and deferred income	$	1,101	$	1,127
Insurance liabilities and annuity benefits	340		358
Accounts payable, equipment project payables and other current liabilities	421		371
All other liabilities	90		87
Liabilities of businesses held for sale	$	1,953	$	1,944

Financial Information for Discontinued Operations

	2023						2022
RESULTS OF DISCONTINUED OPERATIONS Three months ended March 31	GE HealthCare		Bank BPH & Other		Total		GE HealthCare		Bank BPH & Other		Total
Total revenues	$	—	$	—	$	—	$	4,361	$	—	$	4,361
Cost of equipment and services sold	—		—		—		(2,679)		—		(2,679)
Other income, costs and expenses	(20)		(201)		(221)		(1,146)		(250)		(1,396)
Earnings (loss) of discontinued operations before income taxes	(20)		(201)		(221)		536		(250)		286
Benefit (provision) for income taxes(a)	1,479		(1)		1,478		(150)		(18)		(167)
Earnings (loss) of discontinued operations, net of taxes	1,459		(202)		1,257		387		(268)		119
Gain (loss) on disposal before income taxes	—		—		—		—		(23)		(23)
Benefit (provision) for income taxes	—		—		—		—		5		5
Gain (loss) on disposal, net of taxes	—		—		—		—		(18)		(18)
Earnings (loss) from discontinued operations, net of taxes	$	1,459	$	(202)	$	1,257	$	387	$	(286)	$	101

(a) The tax benefit for the three months ended March 31, 2023 for GE HealthCare relates to preparatory steps for the spin-off, which resulted in taxable gain offset by a deferred tax asset and the reversal of valuation allowances for capital loss carryovers utilized against a portion of the gain.

ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS	March 31, 2023		December 31, 2022
Cash, cash equivalents and restricted cash	$	1,180	$	2,627
Current receivables	13		3,361
Inventories, including deferred inventory costs	—		2,512
Goodwill	—		12,799
Other intangible assets - net	—		1,520
Contract and other deferred assets	—		854
Financing receivables held for sale (Polish mortgage portfolio)(a)	1,126		1,200
Property, plant, and equipment - net	69		2,379
All other assets	344		2,109
Deferred income taxes	62		2,528
Assets of discontinued operations(b)	$	2,793	$	31,890
Accounts payable and equipment project payables	$	102	$	3,487
Progress collections and deferred income	—		2,499
Long-term borrowings	—		8,273
Non-current compensation and benefits	36		5,658
All other liabilities(a)	1,413		4,556
Liabilities of discontinued operations(b)	$	1,551	$	24,474

(a) Included $889 million of valuation allowance against financing receivables held for sale (including $645 million related to foreign currency-denominated mortgage litigation) and $895 million of litigation reserves recorded in All other liabilities in Poland at March 31, 2023.

(b) Included $133 million and $28,998 million of assets and $279 million and $23,337 million of liabilities for GE HealthCare as of March 31, 2023 and December 31, 2022, respectively.