Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 116

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 8
Chunk 116
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 of $97 million, recognized $20 million of net tax benefit and paid $121 million in cash related to GE Vernova for the six months ended June 30, 2024.

NOTE 20. FINANCIAL INSTRUMENTS. The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered Level 3 and substantially all these liabilities’ fair value are considered Level 2. 

June 30, 2025December 31, 2024Carryingamount(net)Estimatedfair valueCarryingamount(net)Estimatedfair valueAssetsLoans and other receivables(a)$2,221 $1,961 $2,261 $1,981 LiabilitiesBorrowings (Note 10)18,886 18,703 19,273 18,805 Investment contracts(a)1,274 1,333 1,375 1,432 (a) Primarily related to our run-off insurance operations. See Note 12 for further information.Assets and liabilities that are reflected in the accompanying financial statements at fair value are not included in the above disclosures; such items include cash and cash equivalents, investment securities (Note 3) and derivative financial instruments below.

30 2025 2Q FORM 10-Q 

DERIVATIVES AND HEDGING. Per our policy, derivatives are used solely for managing risks and not for speculative purposes. We use derivatives to manage risks related to foreign currency exchange (including foreign equity investments), interest rates and commodity prices.We use our foreign currency debt and cross-currency interest rate swaps in net investment hedges to hedge currency exposures related to our net investments in foreign operations. We use currency exchange contracts for cash flow hedges primarily to reduce or eliminate the effects of foreign exchange rate changes. Gains and losses on derivatives used in qualified hedges are initially recognized in our Statement of Other Comprehensive Income (Loss) except for interest on cross-currency interest rate swaps. For cross-currency interest rate swaps in a qualified hedging relationships, we recognize the periodic interest settlements within Interest and other financial charges in the Statement of Operations, and the cash flows associated with these periodic interest settlements are classified as operating activities in the Statement of Cash Flows. Settlements from termination of all qualified hedges are classified in the Statement of Cash Flows reflecting the nature of the hedged items (