Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 76

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 4
Chunk 76
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 nature of the tax law changes, the company has not realized an impact in the Statement of Operations related to deferred taxes. We will continue to monitor the impact of the OBBBA and the range of potential outcomes, which will depend on our facts in each year and anticipated guidance from the U.S. Department of the Treasury.The OECD (Organisation for Economic Co-operation and Development) has proposed a global minimum tax of 15% of reported profits (Pillar 2) that has been agreed upon in principle by over 140 countries. Since the proposal, many countries incorporated Pillar 2 model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact Pillar 2 slightly differently than the model rules and on different timelines and may adjust domestic tax incentives in response to Pillar 2. In addition, in January 2025, the United States issued an executive order announcing opposition to aspects of these rules. In June 2025, the G7 agreed to exclude U.S. Multi-National Entities (MNEs) from certain aspects of the Pillar 2 global minimum tax rules (the G7 Statement) in exchange for the U.S. not imposing retaliatory taxes in the OBBBA. We will continue to monitor the G7 Statement, which has not yet been incorporated into the OECD framework. We continue to refine the effective tax rate and cash tax impact of Pillar 2 in light of legislative changes in multiple countries. As of September 30, 2025, we expect to incur $0.1 billion in 2025 in connection with the incorporation of the Pillar 2 model rules, which we have considered as part of the effective tax rate.The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2016-2020. The following table presents our net deferred tax assets and net deferred tax liabilities attributable to different tax jurisdictions or different tax paying components.DEFERRED INCOME TAXESSeptember 30, 2025December 31, 2024Total assets$7,254 $7,479 Total liabilities(409)(368)Net deferred income tax asset$6,845 $7,111 

NOTE 16. SHAREHOLDERS’ EQUITY 

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)Three months ended September 30Nine months ended September 30(Dividends per share in dollars)202520242025