Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 123

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 123
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 INVENTORY COSTS

December 3120242023Raw materials and work in process$7,372 $6,531 Finished goods1,459 1,209 Deferred inventory costs(a)932 544 Inventories, including deferred inventory costs$9,763 $8,284 

(a) Represents deferred labor and overhead costs on time and material service contracts and other costs of products and services for which the criteria for revenue recognition has not yet been met. 

NOTE 6. PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES 

Depreciable livesOriginal CostNet Carrying ValueDecember 31(in years)2024202320242023Land and improvements8$131 $128 $129 $126 Buildings, structures and related equipment8 - 403,146 3,062 1,369 1,358 Machinery and equipment4 - 2011,533 11,160 3,851 3,876 Leasehold costs and manufacturing plant under construction1 - 101,084 989 872 727 ROU operating lease assets1,057 1,160 Property, plant and equipment - net$15,894 $15,338 $7,277 $7,246 Property, plant andequipment additionsDepreciation and amortizationDecember 31202420232022202420232022Commercial Engines & Services$431 $343 $160 $370 $356 $362 Defense & Propulsion Technologies135 145 149 150 147 144 Corporate and Other (including supply chain)353 278 265 314 294 341 Total$920 $766 $574 $834 $797 $846 

52 2024 FORM 10-K

Operating Lease Liabilities. Our current operating lease liabilities, included in All other current liabilities in our Statement of Financial Position were $283 million and $308 million, as of December 31, 2024 and 2023, respectively. Our non-current operating lease liabilities, included in All other liabilities in our Statement of Financial Position, were $822 million and $931 million, as of December 31, 2024 and 2023, respectively. Substantially all of our operating leases have remaining lease terms of 10 years or less, some of which may include options to extend.OPERATING LEASE EXPENSE202420232