Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 55

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 4
Chunk 55
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 continuing involvement with GE Vernova primarily through ongoing sales of products, a transition services agreement, through which GE Aerospace and GE Vernova continue to provide certain services to each other for a period of time following the separation, a separation and distribution agreement, including performance and financial guarantees, a tax matters agreement and a trademark licensing agreement. For the six months ended June 30, 2025, we had direct and indirect sales of $154 million to GE Vernova, primarily related to engine sales and parts. We collected net cash of $401 million related to the transition services agreement and sales of engines and parts for the six months ended June 30, 2025.GE HealthCare. On January 3, 2023, we completed the previously announced separation of our HealthCare business, into a separate, independent, publicly traded company, GE HealthCare Technologies Inc. (GE HealthCare). The separation was structured as a tax-free spin-off and was achieved through the Company's pro-rata distribution of approximately 80.1% of the outstanding shares of GE HealthCare to holders of the Company's common stock. In connection with the separation, the historical results of GE HealthCare and certain assets and liabilities included in the separation are reported in GE Aerospace consolidated financial statements as discontinued operations.We had continuing involvement with GE HealthCare primarily through a transition services agreement, which was completed as of December 31, 2024, through which GE Aerospace and GE HealthCare continued to provide certain services to each other for a period of time following the separation. In addition, we have a tax matters agreement and a trademark licensing agreement. For the six months ended June 30, 2025, we collected net cash of $46 million related to these activities, primarily in the first quarter of 2025.

2025 2Q FORM 10-Q 19

Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. The estimate of total losses for borrower litigation at Bank BPH was $2,520 million and $2,461 million as of June 30, 2025 and December 31, 2024, respectively, with the increase driven by foreign exchange movements. No incremental contributions from GE Aerospace were required during the six months ended June 30, 202