Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 199

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 1
Chunk 199
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 exceeded their carrying values.

2024 FORM 10-K 53

20242023INTANGIBLE ASSETS SUBJECT TO AMORTIZATION December 31Useful lives (in years)Gross carryingamountAccumulatedamortizationNetGross carryingamountAccumulatedamortizationNetCustomer-related(a)3-15$3,850 $(2,083)$1,767 $3,845 $(1,898)$1,947 Patents and technology5-152,744 (759)1,985 3,000 (814)2,186 Capitalized software51,296 (803)493 1,287 (796)491 Trademarks & other1370 (58)13 73 (55)18 Total$7,960 $(3,703)$4,257 $8,205 $(3,563)$4,642 (a) Balance includes payments made to our customers, primarily within our Commercial Engines & Services segment.Intangible assets decreased $385 million in 2024, primarily as a result of amortization. Consolidated amortization expense was $350 million, $382 million and $338 million for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows:  ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION20252026202720282029Estimated annual pre-tax amortization$348 $343 $329 $322 $323 During 2024, we recorded additions to intangible assets subject to amortization of $136 million with a weighted-average amortizable period of 6.38 years, including capitalized software of $118 million, with a weighted-average amortizable period of 5 years.

NOTE 8. CONTRACT AND OTHER DEFERRED ASSETS, CONTRACT LIABILITIES AND DEFERRED INCOME & PROGRESS COLLECTIONS

Contract assets (liabilities) and other deferred assets (income), on a net basis, increased the net liability position by $915 million for the year ended December 31, 2024, primarily due to an increase in long-term service agreements liabilities of $1,092 million, partially offset by an increase in equipment and other service agreements of $111 million. In aggregate, the net liability for long-term service agreements increased primarily due to billings of $8,594 million and