Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 305

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 8
Chunk 305
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31, 2024, 2023 and 2022, respectively. Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows:  ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION20252026202720282029Estimated annual pre-tax amortization$348 $343 $329 $322 $323 During 2024, we recorded additions to intangible assets subject to amortization of $136 million with a weighted-average amortizable period of 6.38 years, including capitalized software of $118 million, with a weighted-average amortizable period of 5 years.

NOTE 8. CONTRACT AND OTHER DEFERRED ASSETS, CONTRACT LIABILITIES AND DEFERRED INCOME & PROGRESS COLLECTIONS

Contract assets (liabilities) and other deferred assets (income), on a net basis, increased the net liability position by $915 million for the year ended December 31, 2024, primarily due to an increase in long-term service agreements liabilities of $1,092 million, partially offset by an increase in equipment and other service agreements of $111 million. In aggregate, the net liability for long-term service agreements increased primarily due to billings of $8,594 million and net unfavorable changes in estimated profitability of $56 million, primarily in Commercial Engines & Services, partially offset by revenue recognized of $7,668 million. Revenue recognized for contracts included in a liability position at the beginning of the year were $6,336 million and $5,717 million for the years ended December 31, 2024 and 2023, respectively.CONTRACT ASSETS, LIABILITIES AND OTHER DEFERRED ASSETS AND INCOMEDecember 31, 2024December 31, 2023Long-term service agreements$2,374 $2,377 Equipment and other service agreements609 498 Current contract assets$2,982 $2,875 Nonrecurring engineering costs(a)$2,438 $2,444 Customer advances and other(b)2,393 2,342 Contract and other deferred assets4,831 4,785 Total contract and other deferred assets$7,814 $7,660 Long-term service agreement liabilities$8,994 $7,902 Current deferred income359 420 Contract liabilities and current deferred income$9,353 $8,322 Non-current deferred income1,013