Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 134

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 134
---
 In addition, we have a tax matters agreement and a trademark licensing agreement. For the six months ended June 30, 2025, we collected net cash of $46 million related to these activities, primarily in the first quarter of 2025.

2025 2Q FORM 10-Q 19

Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. The estimate of total losses for borrower litigation at Bank BPH was $2,520 million and $2,461 million as of June 30, 2025 and December 31, 2024, respectively, with the increase driven by foreign exchange movements. No incremental contributions from GE Aerospace were required during the six months ended June 30, 2025. For further information about factors that are relevant to the estimate of total losses for borrower litigation at Bank BPH, see Note 22. Future changes or adverse developments could increase our estimate of total losses and potentially require future cash contributions to Bank BPH.The Bank BPH financing receivable portfolio is recorded at the lower of cost or fair value, less cost to sell, which reflects market yields and estimates with respect to ongoing borrower litigation. At June 30, 2025, the total portfolio had no carrying value, net of a valuation allowance. Income (loss) related to ongoing borrower litigation was zero in pre-tax charges for both the three and six months ended June 30, 2025, and 2024, respectively.RESULTS OF DISCONTINUED OPERATIONSThree months ended June 3020252024GE VernovaBank BPH & OtherTotalGE VernovaBank BPH & OtherTotalTotal revenue$— $— $— $— $— $— Cost of equipment and services sold— — — — — — Other income, costs and expenses2 5 6 (11)8 (2)Net income (loss) of discontinued operations before income taxes2 5 6 (11)8 (2)Benefit (provision) for income taxes— 15 15 (58)(3)(61)Net income (loss) of discontinued operations, net of taxes1 19 21 (68)5