POSTRETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Description Postretirement Benefit Plans

DESCRIPTION OF OUR PLANS
Plan Category		Participants	Funding	Comments
Principal Pension Plans	GE Energy Pension Plan and GE Aerospace Pension Plan	Covers U.S. participants ~115,000 retirees and beneficiaries, ~50,000 vested former employees and ~16,500 active employees	Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws. We may decide to contribute additional amounts beyond this level.	Closed to new participants since 2012. Benefits for employees with salaried benefits were frozen effective January 1, 2021, and thereafter these employees receive increased company contributions in the company sponsored defined contribution plan in lieu of participation in a defined benefit plan (announced October 2019).
	GE Energy Supplementary Pension Plan GE Aerospace Supplementary Pension Plan	Provides supplementary benefits to higher-level, longer-service U.S. employees	Unfunded. We pay benefits from company cash.	The annuity benefit has been closed to new participants since 2011 and has been replaced by an installment benefit (which was closed to new executives after 2020). Benefits for employees who became executives before 2011 were frozen effective January 1, 2021, and thereafter these employees accrue the installment benefit.
Other Pension Plans(a)	35 U.S. and non-U.S. pension plans with pension assets or obligations that have reached $50 million	Covers ~42,500 retirees and beneficiaries, ~29,500 vested former employees and ~8,000 active employees	Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws in each country. We may decide to contribute additional amounts beyond this level. We pay benefits for some plans from company cash.	In certain countries, benefit accruals have ceased and/or have been closed to new hires as of various dates.
Principal Retiree Benefit Plans	Provides health and life insurance benefits to certain eligible participants	Covers U.S. participants of Power and Renewable Energy (will be part of GE Vernova, GE's portfolio of energy businesses) and Aerospace ~93,500 retirees and dependents and ~15,500 active employees	We fund retiree health benefits on a pay-as-you-go basis and the retiree life insurance trust at our discretion.	Participants share in the cost of the healthcare benefits.

(a) Plans for Power and Renewable Energy (will be part of GE Vernova) and Aerospace that reach $50 million. Plans are not removed from the presentation unless part of a disposition or plan termination.

Schedule of Net Benefit Costs

The components of benefit plans cost other than the service cost are included in the caption Non-operating benefit costs in our Statement of Earnings (Loss).

PRINCIPAL PENSION PLANS	Three months ended March 31
	2023		2022
Service cost for benefits earned	$	21	$	49
Expected return on plan assets	(594)		(786)
Interest cost on benefit obligations	474		517
Net actuarial loss amortization and other	(172)		363
Net periodic expense (income)	(271)		143
Less discontinued operations	$	—	$	49
Continuing operations – net periodic expense (income)	$	(271)	$	94