XML 55 R33.htm IDEA: XBRL DOCUMENT v3.24.0.1
OPERATING SEGMENTS
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
OPERATING SEGMENTS
NOTE 25. OPERATING SEGMENTS
BASIS FOR PRESENTATION. Our operating businesses are organized based on the nature of markets and customers. Segment accounting policies are the same as described and referenced in Note 1. A description of our operating segments as of December 31, 2023 can be found in the Segment Operations section within MD&A.

REVENUESTotal revenuesIntersegment revenuesExternal revenues
Years ended December 31202320222021202320222021202320222021
Aerospace$31,770 $26,050 $21,310 $708 $660 $1,036 $31,062 $25,390 $20,274 
Renewable Energy15,050 12,977 15,697 76 80 138 14,974 12,896 15,559 
Power17,731 16,262 16,903 180 267 345 17,551 15,995 16,558 
Corporate 3,403 2,812 2,559 (965)(1,008)(1,519)4,367 3,819 4,078 
Total$67,954 $58,100 $56,469 $— $— $— $67,954 $58,100 $56,469 
Years ended December 31
202320222021
EquipmentServicesTotalEquipmentServicesTotalEquipmentServicesTotal
Aerospace$9,319 $22,451 $31,770 $7,842 $18,207 $26,050 $7,531 $13,780 $21,310 
Renewable Energy12,625 2,425 15,050 10,191 2,785 12,977 13,224 2,473 15,697 
Power5,396 12,335 17,731 4,737 11,526 16,262 5,035 11,868 16,903 
Total segment revenues$27,340 $37,211 $64,551 $22,770 $32,518 $55,289 $25,789 $28,121 $53,910 

Revenues are classified according to the region to which equipment and services are sold. For purposes of this analysis, the U.S. is presented separately from the remainder of the Americas.

Years ended December 31202320222021
AerospaceRenewable EnergyPowerCorporateTotalTotalTotal
U.S.$13,486 $6,327 $6,008 $3,270$29,090 $24,964 $25,607 
Non-U.S.
Europe7,225 4,099 4,178 14815,650 12,587 11,244 
China region2,607 214 1,081 (2)3,900 3,537 4,044 
Asia (excluding China region)3,195 1,874 2,002 (102)6,969 6,098 5,762 
Americas1,865 1,579 1,576 145,034 4,750 3,553 
Middle East and Africa3,393 958 2,885 757,310 6,164 6,259 
Total Non-U.S.$18,285 $8,723 $11,722 $133$38,863 $33,136 $30,862 
Total geographic revenues$31,770 $15,050 $17,731 $3,403$67,954 $58,100 $56,469 
Non-U.S. revenues as a % of total58 %58 %66 %57 %57 %55 %

REMAINING PERFORMANCE OBLIGATION. As of December 31, 2023, the aggregate amount of the contracted revenues allocated to our unsatisfied (or partially unsatisfied) performance obligations was $267,233 million. We expect to recognize revenue as we satisfy our remaining performance obligations as follows: 1) equipment-related remaining performance obligation of $54,675 million of which 44%, 68% and 92% is expected to be recognized within 1, 2 and 5 years, respectively, and the remaining thereafter; and 2) services-related remaining performance obligations of $212,558 million of which 12%, 42%, 66% and 82% is expected to be recognized within 1, 5, 10 and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as we fulfill the related remaining performance obligations.

Total sales of equipment and services to agencies of the U.S. Government were 8% of total revenues for the years ended December 31, 2023, 2022 and 2021. Within our Aerospace segment, defense-related sales were 6%, 7% and 7% of total revenues for the years ended December 31, 2023, 2022 and 2021, respectively.

PROFIT AND EARNINGS For the years ended December 31
202320222021
Aerospace$6,115 $4,775 $2,882 
Renewable Energy(1,437)(2,240)(795)
Power1,449 1,217 726 
Total segment profit (loss)6,126 3,751 2,812 
Corporate(a)3,785 (2,875)1,158 
Interest and other financial charges(1,073)(1,423)(1,727)
Debt extinguishment costs— (465)(6,524)
Non-operating benefit income (cost)1,585 409 (1,136)
Benefit (provision) for income taxes(1,357)(210)595 
Preferred stock dividends(295)(289)(237)
Earnings (loss) from continuing operations attributable to GE common shareholders8,772 (1,100)(5,058)
Earnings (loss) from discontinued operations attributable to GE common shareholders414 1,151 (1,515)
Net earnings (loss) attributable to GE common shareholders$9,186 $51 $(6,573)
(a) Includes interest and other financial charges of $45 million, $54 million and $63 million and benefit for income taxes of $195 million, $213 million and $162 million related to EFS within Corporate for the years ended December 31, 2023, 2022, and 2021, respectively.
AssetsProperty, plant and
equipment additions		Depreciation and amortization
At December 31For the years ended December 31For the years ended December 31
202320222021202320222021202320222021
Aerospace$39,985 $39,243 $38,298 $734 $543 $445 $1,089 $1,037 $1,074 
Renewable Energy15,936 15,719 14,804 389 275 349 388 412 432 
Power23,255 22,173 23,569 348 210 189 478 506 692 
Corporate82,175 79,826 97,301 22 34 25 125 948 160 
Total continuing$161,351 $156,961 $173,972 $1,494 $1,061 $1,007 $2,080 $2,903 $2,359 

We classify certain assets that cannot meaningfully be associated with specific geographic areas as “Other Global” for this purpose.

December 31 20232022
U.S.$105,676 $112,371 
Non-U.S.
Europe38,899 26,875 
Asia7,988 8,054 
Americas5,875 5,796 
Other Global2,912 3,866 
Total Non-U.S.$55,674 $44,590 
Total assets (continuing operations)$161,351 $156,961 

The increase in continuing assets in 2023 was primarily driven by higher cash from net income, the retention of an ownership interest in GEHC, partially offset by cash paid for share redemptions and repurchases and depreciation and amortization on property, plant and equipment and intangible assets. Property, plant and equipment – net associated with operations based in the United States and outside the United States was approximately 4% and 3% and 3% and 4% of total continuing assets as of December 31, 2023 and 2022, respectively.