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BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)
 3 Months Ended
Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Financial Information for Assets and Liabilities of Businesses Held for Sale
ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALEMarch 31, 2024December 31, 2023
Cash and cash equivalents$88 $609 
Current receivables, inventories and contract assets633 551 
Non-current captive insurance investment securities548 570 
Property, plant and equipment and intangible assets - net253 254 
Valuation allowance on disposal group classified as held for sale(124)(124)
All other assets
108 125 
Assets of businesses held for sale$1,507 $1,985 
Progress collections and deferred income$964 $1,001 
Insurance liabilities and annuity benefits344 376 
Accounts payable, equipment project payables and other current liabilities463 392 
All other liabilities40 57 
Liabilities of businesses held for sale
$1,811 $1,826 
Schedule of Financial Information for Discontinued Operations
20242023
RESULTS OF DISCONTINUED OPERATIONS
Three months ended March 31
GE HealthCareBank BPH & OtherTotalGE HealthCareBank BPH & OtherTotal
Total revenues$— $— $— $— $— $— 
Cost of equipment and services sold— — — — — — 
Other income, costs and expenses— 6 6 (20)(201)(221)
Earnings (loss) of discontinued operations before income taxes— 6 6 (20)(201)(221)
Benefit (provision) for income taxes— 6 6 1,479 (1)1,478 
Earnings (loss) of discontinued operations, net of taxes— 12 12 1,459 (202)1,257 
Gain (loss) on disposal before income taxes— 2 2 — — — 
Benefit (provision) for income taxes— — — — — — 
Gain (loss) on disposal, net of taxes— 2 2 — — — 
Earnings (loss) from discontinued operations, net of taxes$— $14 $14 $1,459 $(202)$1,257 

The tax benefit for the three months ended March 31, 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 OPERATIONSMarch 31, 2024December 31, 2023
Cash, cash equivalents and restricted cash
$1,391 $1,396 
Current receivables13 14 
 Property, plant and equipment - net 52 58 
All other assets
224 200 
Deferred income taxes29 27 
Assets of discontinued operations(a)$1,709 $1,695 
Accounts payable and equipment project payables$34 $36 
Non-current compensation and benefits35 31 
All other liabilities(a)
1,101 1,125 
Liabilities of discontinued operations
$1,169 $1,193 
(a) Included $1,792 million and $1,963 million of valuation allowances against financing receivables held for sale, of which $1,553 million and $1,712 million related to estimated borrower litigation losses, and $964 million and $957 million in All other liabilities, related to estimated borrower litigation losses for Bank BPH’s foreign currency-denominated mortgage portfolio, as of March 31, 2024 and December 31, 2023, respectively. Accordingly, total estimated losses related to borrower litigation were $2,517 million and $2,669 million as of March 31, 2024 and December 31, 2023, respectively. As a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of March 31, 2024