Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 148

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 1
Chunk 148
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 $5,884 million and $5,063 million for the nine months ended September 30, 2025 and 2024, respectively.CONTRACT ASSETS, LIABILITIES AND OTHER DEFERRED ASSETS AND INCOMESeptember 30, 2025December 31, 2024Long-term service agreements$2,423 $2,374 Equipment and other service agreements688 609 Current contract assets$3,111 $2,982 Nonrecurring engineering costs(a)$2,425 $2,438 Customer advances and other(b)2,295 2,393 Contract and other deferred assets4,720 4,831 Total contract and other deferred assets$7,830 $7,814 Long-term service agreement liabilities$9,519 $8,994 Current deferred income332 359 Contract liabilities and current deferred income$9,852 $9,353 Non-current deferred income1,081 1,013 Total contract liabilities and deferred income$10,933 $10,366 Contract assets (liabilities) and other deferred assets (income)$(3,102)$(2,552)(a) Includes contract fulfillment costs for engineering and development incurred prior to production for equipment production contracts, primarily within our Defense & Propulsion Technologies segment, which are amortized ratably over each unit produced. We assess the recoverability of these costs and if we determine the costs are no longer probable of recovery, the asset is impaired.(b) Includes amounts due from customers within our Commercial Engines & Services segment for the sales of engines, spare parts and services, which we collect through fixed or usage-based billings from the sale of spare parts and servicing of equipment under long-term service agreements.Progress collections increased $287 million in the nine months ended September 30, 2025 primarily due to increased collections at Defense & Propulsion Technologies.

NOTE 9. ALL OTHER ASSETS.  All other current assets and All other assets primarily include equity method investments, Insurance cash and cash equivalents, receivables and other investments in our run-off insurance operations, pension surplus, prepaid taxes and other deferred charges and indemnity assets. All other non-current assets increased $1,648 million in the nine months ended September 30, 2025, due to an increase in equity method and other investments of $819 million, an increase in Insurance cash and cash equivalents of $406 million, an increase in Insurance receivables of