Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 142

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 142
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 other(b)2,354 2,393 Contract and other deferred assets4,803 4,831 Total contract and other deferred assets$7,862 $7,814 Long-term service agreement liabilities$9,381 $8,994 Current deferred income358 359 Contract liabilities and current deferred income$9,738 $9,353 Non-current deferred income1,040 1,013 Total contract liabilities and deferred income$10,778 $10,366 Contract assets (liabilities) and other deferred assets (income)$(2,916)$(2,552)(a) Includes contract fulfillment costs for engineering and development incurred prior to production for equipment production contracts, primarily within our Defense & Propulsion Technologies segment, which are amortized ratably over each unit produced. We assess the recoverability of these costs and if we determine the costs are no longer probable of recovery, the asset is impaired.(b) Includes amounts due from customers within our Commercial Engines & Services segment for the sales of engines, spare parts and services, which we collect through fixed or usage-based billings from the sale of spare parts and servicing of equipment under long-term service agreements.Progress collections increased $330 million in the six months ended June 30, 2025 primarily due to increased collections at Defense & Propulsion Technologies.

NOTE 9. ALL OTHER ASSETS.  All other current assets and All other assets primarily include equity method investments, Insurance cash and cash equivalents, receivables and other investments in our run-off insurance operations, pension surplus and prepaid taxes and other deferred charges. All other non-current assets increased $1,092 million in the six months ended June 30, 2025, due to an increase in equity method and other investments, primarily at our run-off insurance operations, of $376 million, an increase in Insurance cash and cash equivalents of $257 million, an increase in Insurance receivables of $243 million and an increase in pension surplus of $104 million. Insurance cash and cash equivalents was $1,191 million and $934 million at June 30, 2025 and December 31, 2024, respectively.

NOTE 10. BORROWINGS

June 30, 2025December 31, 2024Current portion of long-term borrowings   Senior notes $1,817 $1,952    Subordinated notes and other47 87 Other short-term borrowings25 — Total short