Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 35

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 4
Chunk 35
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CONTROLS AND PROCEDURES. Under the direction of our Chief Executive Officer and Chief Financial Officer, we evaluated our disclosure controls and procedures and internal control over financial reporting and concluded that (i) our disclosure controls and procedures were effective as of March 31, 2025, and (ii) no change in internal control over financial reporting occurred during the quarter ended March 31, 2025, that has materially affected, or is reasonably likely to materially affect, such internal control over financial reporting.

OTHER FINANCIAL DATA

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS. On March 7, 2024, the Board of Directors authorized up to $15 billion of common share repurchases. We repurchased 9,470 thousand shares for $1,913 million during the three months ended March 31, 2025 under this authorization.

PeriodTotal number of shares purchasedAverage price paid per shareTotal number of shares purchased as part of our share repurchase authorizationsApproximate dollar value of shares that may yet be purchased under our $15 billion  share repurchase authorization(Shares in thousands)2025January1,079 $189.22 1,079 February7,564 204.58 7,564 March828 195.59 828 Total9,470 $202.05 9,470 $8,161 

*Non-GAAP Financial Measure

2025 1Q FORM 10-Q 13

STATEMENT OF OPERATIONS (UNAUDITED)Three Months Ended March 31(In millions; per-share amounts in dollars)20252024Sales of equipment$2,653 $2,421 Sales of services6,347 5,655 Insurance revenue (Note 12)934 879 Total revenue9,935 8,955 Cost of equipment sold2,335 2,465 Cost of services sold3,660 3,281 Selling, general and administrative expenses876 1,026 Separation costs51 259 Research and development359 270 Interest and other financial charges210 263 Insurance losses, annuity benefits and other costs (Note 12)701 627 Non-operating benefit cost (income)(201)(217)Total costs and expenses7,992 7,974 Other income (loss) (Note 18)302 1,007 Net income (loss) from