Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 68

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 4
Chunk 68
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 1,013 Total contract liabilities and deferred income$10,933 $10,366 Contract assets (liabilities) and other deferred assets (income)$(3,102)$(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 $287 million in the nine months ended September 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, prepaid taxes and other deferred charges and indemnity assets. All other non-current assets increased $1,648 million in the nine months ended September 30, 2025, due to an increase in equity method and other investments of $819 million, an increase in Insurance cash and cash equivalents of $406 million, an increase in Insurance receivables of $153 million and an increase in pension surplus of $104 million. Insurance cash and cash equivalents was $1,340 million and $934 million at September 30, 2025 and December 31, 2024, respectively.

NOTE 10. BORROWINGS

September 30, 2025December 31, 2024Current portion of long-term borrowings   Senior notes $1,884 $1,952    Subordinated notes and other165 87 Other short-term borrowings17 — Total short-term borrowings$2,067 $2,039 Senior notes(a)16,864 15,467 Subordinated notes 1,451 1,330 Other457 437 Total long-term borrowings$18,771 $17,234 Total borrowings$20,838 $19,273 (a) In the third quarter of 2025, GE Aerospace issued a total of $2,