Company: GEHC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001932393-25-000005
Chunk: 132

Company: GE HealthCare Technologies Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 132
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 State58 82 (48)Total$531 $743 $563 Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax RateFor the years ended December 31202420232022Income before taxes$2,581 $2,361 $2,512 Tax expected at 21%542 496 528 Foreign operations38 63 43 Withholding taxes34 28 4 U.S. tax on foreign operations(43)(35)(36)Uncertain tax positions170 11 6 R&D benefits(51)(33)(33)State taxes, net of federal benefit49 24 39 Valuation allowance(281)19 8 Spin-Off and separation costs72 184 — Other— (14)4 Provision for income taxes$531 $743 $563 Effective income tax rate20.6%31.5%22.4%

90

For the year ended December 31, 2024, included in State taxes, net of federal benefit is $35 million of expense related to revaluation of deferred tax assets as a result of changes in estimates of future apportionment and state tax rates based on the 2023 as-filed tax returns. For the year ended December 31, 2023, the Spin-Off and separation costs line includes $59 million of expense related to revaluation of state deferred tax assets associated with the Spin-Off.UNRECOGNIZED TAX BENEFITS. The Company is subject to periodic tax audits by tax authorities in the U.S. (both federal and state) and the numerous countries in which we operate. While the Company currently is being audited, or remains subject to audit, in a number of jurisdictions for tax years 2004-2023, including China, France, Germany, India, Japan, Norway, the United Kingdom, and the United States, we believe that there are no jurisdictions in which the ultimate outcome of unresolved issues or claims is likely to be material to the results of operations, financial position, or cash flows. We believe that we have made adequate provisions for all unrecognized tax benefits.The balance of unrecognized tax benefits, the amount of related interest and penalties, and what we believe to be the range of reasonably possible changes in the next 12 months are as follows.202420232022Balance at beginning of period$409 $465 $365 Additions for tax positions of the current year4