Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 45

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 4
Chunk 45
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 Non-U.S. corporate2,920 28 (285)2,663 2,970 23 (302)2,691 State and municipal2,356 38 (203)2,192 2,409 22 (235)2,196 Mortgage and asset-backed5,258 70 (157)5,172 5,007 47 (183)4,870 Government and agencies1,178 6 (108)1,075 1,180 4 (118)1,066 Other equity229 — — 229 225 — — 225 Non-current investment securities$40,163 $804 $(2,958)$38,010 $40,248 $641 $(3,148)$37,741 The amortized cost of debt securities excludes accrued interest of $507 million and $473 million at March 31, 2025 and December 31, 2024, respectively, which is reported in All other current assets.The estimated fair value of investment securities at March 31, 2025 increased since December 31, 2024, primarily due to lower market  yields partially offset by net proceeds from debt/equity securities sales and early redemptions, both from our run-off insurance operations.Total estimated fair value of debt securities in an unrealized loss position were $20,859 million and $21,876 million, of which $13,913 million and $14,011 million had gross unrealized losses of $(2,663) million and $(2,795) million and had been in a loss position for 12 months or more at March 31, 2025 and December 31, 2024, respectively. Gross unrealized losses  at March 31, 2025 included $(96) million related to commercial mortgage-backed securities (CMBS) collateralized by pools of commercial mortgage loans on real estate, and $(57) million related to asset-backed securities. The majority of our CMBS and asset-backed securities in an unrealized loss position have received investment-grade credit ratings from the major rating agencies. The majority of our U.S. and non-U.S. corporate securities' gross unrealized losses were in the consumer, electric, technology and communication industries. For our securities in an unrealized loss position, the losses are not indicative of credit losses, we currently do not intend to sell the investments, and it is