Company: GEHC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001932393-25-000005
Chunk: 133

Company: GE HealthCare Technologies Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 133
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 — 9 Additions for tax positions of prior years181 156 137 Reductions for tax positions of prior years(33)(203)(41)Settlements with tax authorities(4)(6)(1)Expiration of the statute of limitations(6)(3)(4)Balance at end of period$551 $409 $465 For the year ended December 31, 2024, the Additions for tax positions of prior years line includes $172 million of reserves established due to ongoing audits, of which $142 million was established against a net operating loss deferred tax asset. Also for the year ended December 31, 2024, the Reductions for tax positions of prior years includes currency translation adjustments (“CTA”) of $14 million and a reversal of $19 million related to various tax audits that were closed during the year.During the years ended December 31, 2023 and 2022, the Additions for tax positions of prior years line in the table above includes $134 million and $132 million, respectively, related to the Spin-Off. Also during the year ended December 31, 2023, a matter was closed with local tax authorities which resulted in the reversal of a net operating loss deferred tax asset and the related $183 million unrecognized tax benefit, which is included in the Reductions for tax positions of prior years line above. Unrecognized Tax BenefitsFor the years ended December 31202420232022Unrecognized tax benefits$551 $409 $465 Accrued interest on unrecognized tax benefits81 72 56 Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months175 29 45 Portion that, if recognized, would reduce tax expense and effective tax rate182 157 153 In the first quarter of 2023, the Company changed its accounting policy for presentation of interest expense on uncertain tax positions from within Interest and other financial charges – net to within Benefit (provision) for income taxes. See Note 2, “Summary of Significant Accounting Policies” for further information. For the years ended December 31, 2024 and 2023, $13 million and $12 million, respectively, of interest expense on uncertain tax positions was recorded in Benefit (provision) for income taxes in the Consolidated Statements of Income. For the year ended December 31, 2022, $12 million of interest expense on uncertain tax positions was recorded