Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 32

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 32
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Less: gains (losses) on retained and sold ownership interests and other equity securities(a)5325,776100Less: gains (losses) on purchases and sales of business interests(a)398(104)35Adjusted other income (loss) (Non-GAAP)$1,480$1,179$766Profit (loss) (GAAP)$7,620$10,441$1,522Profit (loss) margin (GAAP)19.7%29.5%5.2%Operating profit (loss) (Non-GAAP)$7,253$5,561$4,227Operating profit (loss) margin (Non-GAAP)20.7%17.4%16.1%(a) See the Corporate & Other and Other Consolidated Information sections for further information.We believe that adjusting revenue provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of revenue from our run-off insurance operations. We believe that adjusting profit to exclude the effects of items that are not closely associated with ongoing operations provides management and investors with a meaningful measure that increases the period-to-period comparability. Gains (losses) and restructuring and other items are impacted by the timing and magnitude of gains associated with dispositions, and the timing and magnitude of costs associated with restructuring and other activities. We also use Adjusted revenue* and Operating profit* as performance metrics at the company level for our annual executive incentive plan for 2024.

*Non-GAAP Financial Measure

22 2024 FORM 10-K

ADJUSTED EARNINGS (LOSS) AND ADJUSTED EFFECTIVE INCOME TAX RATE (NON-GAAP)202420232022(Per-share amounts in dollars)EarningsEPSEarningsEPSEarningsEPSEarnings (loss) from continuing operations (GAAP) (Note 18)$6,670$6.09$9,151$8.33$1,065$0.97Insurance earnings (loss) (pre-tax)1,0250.943340.302100.19Tax effect on Insurance earnings (loss)(219)(0.20)(74)(0.07)(52)(0.05)Less: Insurance earnings (loss) (net of tax) (Note 12)8060.742600.241590.14U.S. tax equity earnings (loss) (pre-tax)(191)(0.17)(176)(0.16)(124)(0.11)