Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 118

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 118
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Earnings (loss) from discontinued operations, net of taxes$(2,151)$1,846 $(644)$(949)The tax benefit for the year ended December 31, 2023 for GE HealthCare relates to retroactive 2023 Internal Revenue Service (IRS) guidance concerning foreign tax credits and accounting method changes and completion of the 2022 U.S. federal tax return, as well as net tax benefit resulting from preparatory steps for the spin-off.

2024 FORM 10-K 49

ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONSDecember 31, 2024December 31, 2023Cash, cash equivalents and restricted cash(a)$1,327 $3,762 Current receivables13 7,324 Inventories, including deferred inventory costs— 8,245 Goodwill— 4,437 Other intangible assets - net— 1,053 Contract and other deferred assets— 8,959  Property, plant, and equipment - net 40 5,306 All other assets438 5,750 Deferred income taxes24 3,093 Assets of discontinued operations(b)(c)$1,841 $47,927 Accounts payable$30 $8,475 Contract liabilities, progress collections & deferred income— 15,255 Long-term borrowings— 294 Non-current compensation and benefits33 3,589 All other liabilities1,254 11,600 Liabilities of discontinued operations(b)(c)$1,317 $39,213 (a) Included $1,324 million and $1,391 million of cash, cash equivalents and restricted cash related to Bank BPH as of December 31, 2024 and 2023, respectively.(b) Included $1,594 million and $1,963 million of valuation allowances against financing receivables held for sale, of which $1,517 million and $1,712 million related to estimated borrower litigation losses, and $944 million and $957 million in All other liabilities, related to estimated borrower litigation losses for Bank BPH’s foreign currency-denominated mortgage portfolio, as of December 31, 2024 and 2023, respectively. Accordingly, total estimated losses related to borrower litigation were $2,461 million and $2,669 million as of December 31, 2024 and 2023, respectively.