Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 148

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 148
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)(645)     Other(199)(397)Total deferred tax liabilities(2,621)(2,806)Net deferred income tax asset (liability)$7,111 $7,502 (a)Included valuation allowances for non-U.S. loss carryforwards of $1,362 million and $1,465 million as of December 31, 2024 and 2023, respectively. The net deferred tax asset as of December 31, 2024 of $529 million relates to net operating losses that may be carried forward indefinitely.(b) Included valuation allowances for U.S. state losses and credit carryforwards of $490 million and $639 million as of December 31, 2024 and 2023, respectively. Of the $142 million of net deferred tax assets for U.S. state losses and credit carryforwards as of December 31, 2024, $33 million relates to state attributes that expire in various year ending from December 31, 2025 through December 31, 2027, $104 million relates to state attributes that expire various years ending from December 31, 2028 through December 31, 2044, and $5 million relates to state attributes that may be carried forward indefinitely. (c) Included valuation allowances related to assets other than non-U.S. loss carryforwards and U.S. state loss and credit carryforwards of $1,364 million and $1,312 million as of December 31, 2024 and 2023, respectively, related primarily to excess U.S. federal capital loss and foreign tax credit carryforwards.

2024 FORM 10-K 65

DEFERRED TAX ASSETS VALUATION ALLOWANCEBalance at December 31, 2021$(3,348)Additions charged to income tax expense(10)Reductions credited to income tax expense— Other adjustments(a)(1,806)Balance at December 31, 2022$(5,164)Additions charged to income tax expense— Reductions credited to income tax expense102 Other adjustments(b)1,646 Balance at December 31, 2023$(3,416)Additions charged to income tax expense(2)Reductions credited to income tax expense184 Other adjustments18 Balance at December 31, 2024$(3,216)(a) Primarily related to excess capital losses generated during the year. (b) Primarily related