Company: GEHC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001932393-25-000005
Chunk: 155

Company: GE HealthCare Technologies Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 155
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 below.For the year ended December 312024Confirmed obligations outstanding at beginning of period$365 Invoices confirmed during the year886 Confirmed invoices paid during the year(855)Foreign exchange and other(2)Confirmed obligations outstanding at end of period$394 

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COLLABORATIVE ARRANGEMENTS. In October 2023, we entered into a Collaboration and License Agreement with Novo Nordisk (“Novo”) to pursue a collaboration on the development, regulatory approval, and commercialization of an ultrasound therapy. Under the terms of this agreement, in return for providing development activities associated with the development of the underlying ultrasound device to deliver Novo’s clinical therapies, we received an upfront nonrefundable payment with the potential for additional nonrefundable payments through 2027. We recognize the nonrefundable payments as an offset to R&D expense as we perform activities contemplated under this agreement. These nonrefundable payments are not material. We may also receive future payments based on the achievement of certain development milestones and regulatory approvals associated with the ultrasound therapy.REDEEMABLE NONCONTROLLING INTERESTS.The Company has noncontrolling interests with redemption features. These redemption features, such as put options, could require the Company to purchase the noncontrolling interests upon the occurrence of certain events. All noncontrolling interests with redemption features that are not solely within our control are recognized within the Consolidated Statements of Financial Position between liabilities and equity. Redeemable noncontrolling interests are initially recorded at the issuance date fair value. Those that are currently redeemable, or probable of becoming redeemable, are subsequently adjusted to the greater of current redemption value or initial carrying value. Activity attributable to redeemable noncontrolling interests is presented below.For the years ended December 31202420232022Balance at beginning of period$165 $230 $220 Net income attributable to redeemable noncontrolling interests50 41 47 Redemption value adjustments(1)— 183 — Distributions to and exercise of redeemable noncontrolling interests and other(2)(28)(289)(37)Balance at end of period $188 $165 $230 (1) As of January 3, 2023, certain redeemable noncontrolling interests were probable of becoming redeemable due to the change of control that occurred upon consummation of the Spin-Off. As a result, these redeemable noncontrolling interests were remeasured to their current redemption value. The remeasurement was accounted for