BORROWINGS

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

BORROWINGS

NOTE 10. BORROWINGS

December 31		2022				2021
		Amount		Average Rate		Amount		Average Rate
Current portion of long-term borrowings
Senior notes issued by GE		$	464	0.98	%	$	1,242	1.38	%
Senior and subordinated notes assumed by GE		1,973		1.50		1,645		2.05
Senior notes issued by GE Capital		1,188		1.54		1,370		0.63
Other		115				76
Total short-term borrowings		$	3,739			$	4,333
	Maturities	Amount		Average Rate		Amount		Average Rate
Senior notes issued by GE	2024-2050	$	4,724	2.62	%	$	5,373	2.87	%
Senior and subordinated notes assumed by GE	2024-2054	8,406		4.71		11,306		3.73
Senior notes issued by GE Capital	2024-2042	6,289		3.95		13,274		4.26
Other		901				827
Total long-term borrowings		$	20,320			$	30,781
Total borrowings		$	24,059			$	35,114

The Company has provided a full and unconditional guarantee on the payment of the principal and interest on all senior and subordinated outstanding long-term debt securities issued by subsidiaries of GE Capital, our former financial services business. This guarantee applied to $5,258 million and $13,719 million of senior notes and other debt issued by GE Capital at December 31, 2022 and 2021, respectively.

In the fourth quarter of 2022, GE HealthCare issued a total of $8,250 million in aggregate principal amount of senior unsecured debt. GE used the majority of the proceeds to complete a debt tender to repurchase a total of $7,234 million of debt, comprising $6,106 million of GE Capital issued debt with maturities ranging from 2032 through 2035, and $1,128 million of GE assumed debt due 2032. See Note 22 for further information about borrowings and associated interest rate swaps.

Long-term debt maturities over the next five years follow.

	2023			2024		2025		2026		2027
Debt issued by GE	$	464		$	195	$	863	$	45	$	717
Debt assumed by GE	1,973			512		237		1,136		222
Debt issued by GE Capital	1,188		(a)	112		694		149		624

(a)Fixed and floating rate notes of $363 million contain put options with exercise dates in 2023, which have final maturity beyond 2034.

The total interest payments on consolidated borrowings are estimated to be $875 million, $804 million, $772 million, $706 million and $655 million for 2023, 2024, 2025, 2026 and 2027, respectively.