Company: GEHC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001932393-25-000005
Chunk: 131

Company: GE HealthCare Technologies Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 131
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 of Level 3 plan assets increased from $61 million as of December 31, 2022 to $626 million as of December 31, 2023 primarily as a result of the transferred liabilities and assets to GE HealthCare on January 1, 2023. Weighted Average Asset Allocation of Pension Plans2024 Target2024 ActualGlobal equity securities22 %23 %Debt securities, cash, and cash equivalents61 %60 %Real estate6 %6 %Private equities and other instruments11 %11 %

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DEFINED CONTRIBUTION PLAN.

As a result of the Spin-Off, GE HealthCare established a defined contribution plan for its eligible U.S. employees that was largely consistent with the plan they participated in while GE HealthCare operated as a business of GE. Expenses associated with our employees’ participation in GE HealthCare’s defined contribution plan in 2024 and 2023 and GE’s defined contribution plan allocated to the Company in 2022 represent the employer matching contributions for GE HealthCare employees and were $130 million, $122 million, and $123 million for the years ended December 31, 2024, 2023, and 2022, respectively. 

NOTE 11. INCOME TAXES

The Company is subject to income taxes in the U.S. (both federal and state) and in numerous foreign jurisdictions. Changes in the tax laws or regulations in these jurisdictions, or in positions by the relevant authorities regarding their application, administration, or interpretation, may affect our tax liability, return on investments, and business operations.The Tax Cuts and Jobs Act imposes tax on the Company for global intangible low-taxed income (“GILTI”) earned by certain non-U.S. subsidiaries. We have elected to account for GILTI as a period cost. Income Before Income TaxesFor the years ended December 31202420232022U.S. income$593 $816 $1,090 Non-U.S. income1,988 1,545 1,422 Total$2,581 $2,361 $2,512 Provision for Income TaxesFor the years ended December 31202420232022CurrentU.S. Federal$62 $171 $396 Non-U.S.412 345 324 U.S. State8 42 97 DeferredU.S. Federal3 — (213)Non-U.S.(12)103 7 U.S.