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BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 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 SALEJune 30, 2024December 31, 2023
Non-current captive insurance investment securities$— $570 
Property, plant and equipment and intangible assets - net89 17 
Valuation allowance on disposal group classified as held for sale— (124)
All other assets
49 77 
Assets of businesses held for sale$137 $541 
Insurance liabilities and annuity benefits$— $376 
Accounts payable and other liabilities21 1 
Borrowings39 — 
Liabilities of businesses held for sale
$61 $378 
Schedule of Financial Information for Discontinued Operations
RESULTS OF DISCONTINUED OPERATIONS
Three months ended June 30
20242023
GE VernovaGE HealthCareBank BPH & OtherTotalGE VernovaGE HealthCareBank BPH & OtherTotal
Total revenues$— $— $— $— $8,136 $— $— $8,136 
Cost of equipment and services sold— — — — (6,885)— — (6,885)
Other income, costs and expenses(11)10 (2)(2)(1,373)— (1,040)(2,412)
Earnings (loss) of discontinued operations before income taxes(11)10 (2)(2)(121)— (1,040)(1,161)
Benefit (provision) for income taxes(58)(2)(1)(61)(79)6 11 (62)
Earnings (loss) of discontinued operations, net of taxes(68)8 (3)(63)(200)6 (1,029)(1,222)
Gain (loss) on disposal before income taxes— — 9 9 — — 4 4 
Benefit (provision) for income taxes— — — — — — — — 
Gain (loss) on disposal, net of taxes— — 9 9 — — 4 4 
Earnings (loss) from discontinued operations, net of taxes$(68)$8 $6 $(54)$(200)$6 $(1,025)$(1,218)
RESULTS OF DISCONTINUED OPERATIONS
Six months ended June 30
20242023
GE VernovaGE HealthCareBank BPH & OtherTotalGE VernovaGE HealthCareBank BPH & OtherTotal
Total revenues$7,244 $— $— $7,244 $14,923 $— $— $14,923 
Cost of equipment and services sold(6,074)— — (6,074)(12,752)— — (12,752)
Other income, costs and expenses(1,299)11 4 (1,284)(2,719)(20)(1,241)(3,980)
Earnings (loss) of discontinued operations before income taxes(129)11 4 (115)(548)(20)(1,241)(1,809)
Benefit (provision) for income taxes(132)(2)5 (129)(137)1,485 10 1,359 
Earnings (loss) of discontinued operations, net of taxes(261)9 9 (243)(685)1,466 (1,231)(450)
Gain (loss) on disposal before income taxes— — 11 11 — — 4 4 
Benefit (provision) for income taxes— — — — — — — — 
Gain (loss) on disposal, net of taxes— — 11 11 — — 4 4 
Earnings (loss) from discontinued operations, net of taxes$(261)$9 $20 $(232)$(685)$1,466 $(1,227)$(447)

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 OPERATIONSJune 30, 2024December 31, 2023
Cash, cash equivalents and restricted cash
$1,398 $3,762 
Current receivables12 7,324 
 Inventories, including deferred inventory costs— 8,245 
 Goodwill— 4,437 
 Other intangible assets - net— 1,053 
 Contract and other deferred assets— 8,959 
 Property, plant and equipment - net 48 5,306 
All other assets
332 5,750 
Deferred income taxes28 3,093 
Assets of discontinued operations(a)(b)$1,817 $47,927 
Accounts payable$81 $8,475 
Contract liabilities, progress collections & deferred income— 15,255 
Long-term borrowings— 294 
Non-current compensation and benefits34 3,589 
All other liabilities(a)1,552 11,600 
Liabilities of discontinued operations(b)
$1,667 $39,213 
(a) Included $1,742 million and $1,963 million of valuation allowances against financing receivables held for sale, of which $1,501 million and $1,712 million related to estimated borrower litigation losses, and $973 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 June 30, 2024 and December 31, 2023, respectively. Accordingly, total estimated losses related to borrower litigation were $2,474 million and $2,669 million as of June 30, 2024 and December 31, 2023, respectively. As a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of June 30, 2024 and December 31, 2023.
(b) Included $113 million and $46,233 million of assets and $288 million and $38,021 million of liabilities for GE Vernova as of June 30, 2024 and December 31, 2023, respectively.