Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 65

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 4
Chunk 65
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 respectively, related to the supply chain finance programs. There were no prepayments made in the second quarter of 2025.We facilitate voluntary supply chain finance programs with third parties, which provide participating suppliers the opportunity to sell their GE Aerospace receivables to third parties at the sole discretion of both the suppliers and the third parties. Total supplier invoices paid through these third-party programs were $1,545 million and $1,799 million for the six months ended June 30, 2025 and 2024, respectively. GE Aerospace has no costs associated with this program.

NOTE 12. INSURANCE LIABILITIES AND ANNUITY BENEFITS. Insurance liabilities and annuity benefits are comprised of obligations to annuitants and insureds in our run-off insurance operations. Our insurance operations (net of eliminations) generated revenue of $872 million and $871 million, profit was $147 million and $170 million and net income was $118 million and $134 million for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, revenues were $1,806 million and $1,750 million, profit was $353 million and $370 million and net income was $280 million and $292 million, respectively. These operations were primarily supported by investment securities, substantially all debt securities, of $37,512 million and $37,352 million, limited partnerships of $4,777 million and $4,321 million, a diversified commercial mortgage loan portfolio collateralized by first liens on U.S. commercial real estate properties of $1,877 million and $1,887 million (net of allowance for credit losses of $45 million and $46 million), and residential mortgage loans of $314 million and $251 million (net of allowance for credit losses of an insignificant amount), as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, the commercial mortgage loan portfolio had one delinquent loan, one non-accrual loan and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 73%, debt service coverage of 1.8, and an insignificant amount of scheduled maturities through 2026. A summary of our insurance liabilities and annuity benefits is presented below.

June 30, 2025Long-term careStructured settlement annuities