VARIABLE INTEREST ENTITIES

3 Months Ended

Mar. 31, 2024

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

NOTE 22. VARIABLE INTEREST ENTITIES. In our Statement of Financial Position, we have assets of $240 million and $117 million and liabilities of $262 million and $203 million at March 31, 2024 and December 31, 2023, respectively, in consolidated Variable Interest Entities (VIEs). These entities were created to help our customers facilitate or finance the purchase of GE equipment and services, and to manage our industrial insurance exposure through an insurance captive, and have no features that could expose us to losses that would significantly exceed the difference between the consolidated assets and liabilities.

Our investments in unconsolidated VIEs were $6,977 million and $6,657 million at March 31, 2024 and December 31, 2023, respectively. Of these investments, $1,293 million and $1,272 million were owned by Energy Financial Services (EFS), comprising equity method investments, primarily renewable energy tax equity investments, at March 31, 2024 and December 31, 2023, respectively. In addition, $5,447 million and $5,151 million were owned by our run-off insurance operations, primarily comprising equity method investments at March 31, 2024 and December 31, 2023, respectively. Our maximum exposure to loss in respect of unconsolidated VIEs is increased by our commitments to make additional investments in these entities described in Note 23.