Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 55

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 4
Chunk 55
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 costs in our Statement of Operations.PRINCIPAL PENSION PLANSThree months ended March 3120252024Service cost for benefits earned$19 $21 Prior service cost amortization(2)3 Expected return on plan assets(375)(578)Interest cost on benefit obligations325 453 Net actuarial gain amortization(128)(155)Net periodic expense (income)$(161)$(256)Less discontinued operations$— $(88)Continuing operations - net periodic expense (income)$(161)$(168)Principal retiree benefit plans income was $15 million and $36 million for the three months ended March 31, 2025 and 2024, respectively. Principal retiree benefit plans income from continuing operations was $21 million for the three months ended March 31, 2024.  Other pension plans income was $1 million and $13 million for the three months ended March 31, 2025 and 2024, respectively. Other pension plans income from continuing operations was $1 million for the three months ended March 31, 2024.  

We have a defined contribution plan for eligible U.S. employees that provides employer contributions, which were $80 million and $89 million for the three months ended March 31, 2025 and 2024, respectively. Employer contributions from continuing operations was $54 million for the three months ended March 31, 2024.  

NOTE 14. SALES DISCOUNTS AND ALLOWANCES & ALL OTHER LIABILITIES.

Sales discounts and allowances increased $80 million in the three months ended March 31, 2025, primarily due to accruals on spare part discounts and other reserves outpacing payments to airline customers in Commercial Engines & Services.All other current liabilities and All other liabilities primarily includes employee compensation and benefits, equipment project and commercial liabilities, income taxes payable and uncertain tax positions, environmental, health and safety remediations, operating lease liabilities (see Note 6) and product warranties (see Note 22). All other current liabilities decreased $710 million in the three months ended March 31, 2025, primarily due to a decrease in employee compensation and benefits of $589 million primarily driven by payments of employee benefit liabilities, and a decrease in equipment projects and other commercial liabilities of $108 million. All other liabilities increased $162 million in the three months ended March 31, 2025, primarily due to increases in uncertain and other