Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 147

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 147
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 associated companies of approximately $10.2 billion that have been reinvested indefinitely. Due to U.S. tax reform, substantially all of our unrepatriated net earnings have been subject to U.S. tax and accordingly we expect to have the ability repatriate available non-U.S. cash without significant additional tax cost. Most of these earnings have been reinvested in active non-U.S. business operations and it is not practicable to determine the income tax liability that would be payable if such earnings were not reinvested indefinitely. We reassess reinvestment of earnings on an ongoing basis. In 2024, 2023 and 2022 in connection with the execution of the Company’s plans to prepare for the spin-off of GE HealthCare and GE Vernova, we incurred zero, $38 million and $66 million of tax, respectively, due to repatriation of previously reinvested earnings.The following table presents our net deferred tax assets and net deferred tax liabilities attributable to different tax jurisdictions or different tax paying components.DEFERRED INCOME TAXES December 3120242023Total assets$7,479 $7,891 Total liabilities(368)(389)Net deferred income tax asset (liability)$7,111 $7,502 COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY) December 3120242023Deferred tax assets     Insurance company loss reserves$2,349 $3,185      Progress collections, Contract assets, Contract liabilities and deferred items1,435 1,632      Accrued expenses and reserves1,231 1,241      Deferred expenses1,398 1,235      Other compensation and benefits510 521      Principal pension plans1,009 1,146      Non-U.S. loss carryforwards(a)1,891 1,879      Capital losses carryforward849 582      State deferred tax assets(b)762 813      Other1,514 1,490 Total deferred tax assets$12,948 $13,724      Valuation allowance(a)(b)(c)(3,216)(3,416)Total deferred tax assets after valuation allowance9,732 10,308 Deferred tax liabilities     Intangibles$(1,049)$(1,129)     Depreciation(712)(635)     Investment in securities(661