BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 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	June 30, 2023		December 31, 2022
Current receivables, inventories and contract assets	$	568	$	495
Non-current captive insurance investment securities	565		554
Property, plant and equipment and intangible assets - net	238		232
Valuation allowance on disposal group classified as held for sale	(126)		(17)
All other assets	85		111
Assets of businesses held for sale	$	1,331	$	1,374
Progress collections and deferred income	$	1,176	$	1,127
Insurance liabilities and annuity benefits	352		358
Accounts payable, equipment project payables and other current liabilities	357		371
All other liabilities	64		87
Liabilities of businesses held for sale	$	1,949	$	1,944

Financial Information for Discontinued Operations

	2023						2022
RESULTS OF DISCONTINUED OPERATIONS Three months ended June 30	GE HealthCare		Bank BPH & Other		Total		GE HealthCare		Bank BPH & Other		Total
Total revenues	$	—	$	—	$	—	$	4,518	$	—	$	4,518
Cost of equipment and services sold	—		—		—		(2,720)		—		(2,720)
Other income, costs and expenses	—		(1,040)		(1,040)		(1,192)		(205)		(1,397)
Earnings (loss) of discontinued operations before income taxes	—		(1,040)		(1,040)		606		(205)		401
Benefit (provision) for income taxes	6		11		17		(143)		3		(140)
Earnings (loss) of discontinued operations, net of taxes	6		(1,029)		(1,022)		463		(202)		260
Gain (loss) on disposal before income taxes	—		4		4		—		(8)		(8)
Benefit (provision) for income taxes	—		—		—		12		—		12
Gain (loss) on disposal, net of taxes	—		4		4		12		(8)		4
Earnings (loss) from discontinued operations, net of taxes	$	6	$	(1,025)	$	(1,019)	$	474	$	(210)	$	264

	2023						2022
RESULTS OF DISCONTINUED OPERATIONS Six months ended June 30	GE HealthCare		Bank BPH & Other		Total		GE HealthCare		Bank BPH & Other		Total
Total revenues	$	—	$	—	$	—	$	8,879	$	—	$	8,879
Cost of equipment and services sold	—		—		—		(5,399)		—		(5,399)
Other income, costs and expenses	(20)		(1,241)		(1,261)		(2,338)		(455)		(2,794)
Earnings (loss) of discontinued operations before income taxes	(20)		(1,241)		(1,261)		1,142		(455)		687
Benefit (provision) for income taxes(a)	1,485		10		1,496		(293)		(15)		(308)
Earnings (loss) of discontinued operations, net of taxes	1,466		(1,231)		235		850		(470)		379
Gain (loss) on disposal before income taxes	—		4		4		—		(30)		(30)
Benefit (provision) for income taxes	—		—		—		12		5		17
Gain (loss) on disposal, net of taxes	—		4		4		12		(25)		(14)
									—
Earnings (loss) from discontinued operations, net of taxes	$	1,466	$	(1,227)	$	239	$	861	$	(496)	$	365

(a) The tax benefit for the six months ended June 30, 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	June 30, 2023		December 31, 2022
Cash, cash equivalents and restricted cash	$	1,318	$	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)	—		1,200
Property, plant and equipment - net	65		2,379
All other assets	310		2,109
Deferred income taxes	55		2,528
Assets of discontinued operations(b)	$	1,761	$	31,890
Accounts payable and equipment project payables	$	67	$	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)	1,462		4,556
Liabilities of discontinued operations(b)	$	1,565	$	24,474

(a) Included $2,017 million and $848 million of valuation allowances against Financing receivables held for sale, of which $1,776 million and $611 million related to estimated borrower litigation losses, and $856 million and $748 million in All other liabilities, related to estimated borrower litigation losses for Bank BPH’s foreign currency-denominated mortgage portfolio, as of June 30, 2023 and December 31, 2022, respectively. Accordingly, total estimated losses related to borrower litigation were $2,632 million and $1,359 million as of June 30, 2023 and December 31, 2022, respectively. As of a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of June 30, 2023.

(b) Included $130 million and $28,998 million of assets and $180 million and $23,337 million of liabilities for GE HealthCare as of June 30, 2023 and December 31, 2022, respectively.