BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 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 SALE	December 31, 2024		December 31, 2023
Non-current captive insurance investment securities	$	—	$	570
Property, plant and equipment and intangible assets - net	—		17
Valuation allowance on disposal group classified as held for sale	—		(124)
All other assets	—		77
Assets of businesses held for sale	$	—	$	541
Insurance liabilities and annuity benefits	$	—	$	376
Accounts payable and all other liabilities	—		1
Liabilities of businesses held for sale	$	—	$	378

Schedule of Financial Information for Discontinued Operations

RESULTS OF DISCONTINUED OPERATIONS For the year ended December 31, 2024	GE Vernova		GE HealthCare		Bank BPH & Other		Total
Total revenue	$	7,244	$	—	$	—	$	7,244
Cost of equipment and services sold	(6,074)		—		—		(6,074)
Other income, costs and expenses	(1,299)		21		(41)		(1,320)
Earnings (loss) of discontinued operations before income taxes	(129)		21		(41)		(150)
Benefit (provision) for income taxes	27		(5)		17		40
Earnings (loss) of discontinued operations, net of taxes	(102)		16		(24)		(110)
Gain (loss) on disposal before income taxes	—		—		21		21
Benefit (provision) for income taxes	—		—		(1)		(1)
Gain (loss) on disposal, net of taxes	—		—		19		19
Earnings (loss) from discontinued operations, net of taxes	$	(102)	$	16	$	(4)	$	(91)

For the year ended December 31, 2023	GE Vernova		GE HealthCare		Bank BPH & Other		Total
Total revenue	$	33,265	$	—	$	—	$	33,265
Cost of equipment and services sold	(28,205)		—		—		(28,205)
Other income, costs and expenses	(5,306)		(50)		(1,252)		(6,607)
Earnings (loss) of discontinued operations before income taxes	(246)		(50)		(1,252)		(1,547)
Benefit (provision) for income taxes	(171)		1,706		4		1,539
Earnings (loss) of discontinued operations, net of taxes	(417)		1,656		(1,248)		(8)
Gain (loss) on disposal before income taxes	—		—		6		6
Benefit (provision) for income taxes	—		—		—		—
Gain (loss) on disposal, net of taxes	—		—		6		6
Earnings (loss) from discontinued operations, net of taxes	$	(417)	$	1,656	$	(1,242)	$	(3)

For the year ended December 31, 2022	GE Vernova		GE HealthCare		Bank BPH & Other		Total
Total revenue	$	29,645	$	18,457	$	—	$	48,102
Cost of equipment and services sold	(25,981)		(11,265)		—		(37,246)
Other income, costs and expenses	(5,985)		(4,842)		(808)		(11,636)
Earnings (loss) of discontinued operations before income taxes	(2,322)		2,350		(808)		(780)
Benefit (provision) for income taxes	171		(521)		(32)		(382)
Earnings (loss) of discontinued operations, net of taxes	(2,151)		1,829		(841)		(1,163)
Gain (loss) on disposal before income taxes	—		6		58		64
Benefit (provision) for income taxes	—		11		139		150
Gain (loss) on disposal, net of taxes	—		17		196		213
Earnings (loss) from discontinued operations, net of taxes	$	(2,151)	$	1,846	$	(644)	$	(949)

The tax benefit for the year ended December 31, 2023 for GE HealthCare relates to retroactive 2023 Internal Revenue Service (IRS) guidance concerning foreign tax credits and accounting method changes and completion of the 2022 U.S. federal tax return, as well as net tax benefit resulting from preparatory steps for the spin-off.

ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS	December 31, 2024		December 31, 2023
Cash, cash equivalents and restricted cash(a)	$	1,327	$	3,762
Current receivables	13		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	40		5,306
All other assets	438		5,750
Deferred income taxes	24		3,093
Assets of discontinued operations(b)(c)	$	1,841	$	47,927
Accounts payable	$	30	$	8,475
Contract liabilities, progress collections & deferred income	—		15,255
Long-term borrowings	—		294
Non-current compensation and benefits	33		3,589
All other liabilities	1,254		11,600
Liabilities of discontinued operations(b)(c)	$	1,317	$	39,213

(a) Included $1,324 million and $1,391 million of cash, cash equivalents and restricted cash related to Bank BPH as of December 31, 2024 and 2023, respectively.

(b) Included $1,594 million and $1,963 million of valuation allowances against financing receivables held for sale, of which $1,517 million and $1,712 million related to estimated borrower litigation losses, and $944 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 December 31, 2024 and 2023, respectively. Accordingly, total estimated losses related to borrower litigation were $2,461 million and $2,669 million as of December 31, 2024 and 2023, respectively. As a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of December 31, 2024.

(c) Included $102 million and $46,233 million of assets and $148 million and $38,021 million of liabilities for GE Vernova as of December 31, 2024 and 2023, respectively.