Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 138

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 138
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,278 Gross realized gains on debt securities5 9 10 17 Gross realized losses and impairments on debt securities(10)(28)(17)(38)Contractual maturities of our debt securities (excluding mortgage and asset-backed securities) at June 30, 2025 are as follows:Amortized costEstimated fair valueWithin one year$843 $843 After one year through five years3,837 3,910 After five years through ten years5,123 5,251 After ten years24,456 22,279 We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations.The majority of our non-current investment securities are classified within Level 2, as their valuation is determined based on significant observable inputs. Investments with a fair value of $4,348 million and $5,074 million, including the AerCap senior note, are classified within Level 3, as significant inputs to their valuation models are unobservable at June 30, 2025 and December 31, 2024, respectively. During the six months ended June 30, 2025, $1,144 million was transferred out of Level 3 related to increases in the observability of external information used in determining fair value in our run-off insurance operations and primarily included certain investments in private placement U.S. and non-U.S. corporate debt securities. During the six months ended June 30, 2025 there were no significant transfers into Level 3 and during the six months ended June 30, 2024, there were no significant transfers into or out of Level 3.In addition to the equity securities described above, we held $1,680 million and $1,439 million of equity securities without RDFV including $1,651 million and $1,410 million within our run-off insurance operations at June 30, 2025 and December 31, 2024, respectively, that are classified within All other assets in our Statement of Financial Position. Fair value adjustments, net of impairments, recorded in income were $62 million and $29 million and $100 million and $63 million for the three and six months ended June 30, 2025, and 2024, respectively. These are primarily limited partnership investments in private equity, infrastructure and real estate funds that are measured at net asset value per share (or equivalent) as a practical expedient to estimated