Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 31

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 31
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 performance from us were required under parent company guarantees relating to GE Vernova customer contracts. See Note 24 for additional details regarding guarantees.

NON-GAAP FINANCIAL MEASURES. We believe that presenting non-GAAP financial measures provides management and investors useful measures to evaluate performance and trends of the total company and its businesses. This includes adjustments in recent periods to GAAP financial measures to increase period-to-period comparability following actions to strengthen our overall financial position and how we manage our business. In addition, management recognizes that certain non-GAAP terms may be interpreted differently by other companies under different circumstances. In various sections of this report we have made reference to the following non-GAAP financial measures in describing our (1) revenue, specifically, Adjusted revenue, (2) profit, specifically, Operating profit and Operating profit margin; Adjusted earnings (loss); Adjusted earnings (loss) per share (EPS) and Adjusted effective income tax rate, and (3) cash flows, specifically free cash flow (FCF). The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures follow.

2024 FORM 10-K 21

ADJUSTED REVENUE, OPERATING PROFIT AND PROFIT MARGIN (NON-GAAP)202420232022Total revenue (GAAP)$38,702$35,348$29,139Less: Insurance revenue (Note 12)3,5813,3892,957Adjusted revenue (Non-GAAP)$35,121$31,959$26,181Total costs and expenses (GAAP)$33,346$31,625$28,428Less: Insurance cost and expenses (Note 12)2,5603,0572,753Less: U.S. tax equity cost and expenses14——Less: interest and other financial charges(a)9861,0291,339Less: non-operating benefit cost (income)(842)(978)(60)Less: restructuring & other(a)525246514Less: goodwill impairments(a)251——Less: separation costs(a)492692625Less: Russia & Ukraine charges(a)——75Less: debt extinguishment costs(a)——465Add: noncontrolling interests(13)(1)2Adjusted costs (Non-GAAP)$29,348$27,577$22,720Other income (loss) (GAAP)$2,264$6,718$811Less: U.S. tax equity(146)(132)(89)