Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 154

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 154
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 announced in the fourth quarter of 2022, reflecting lower Corporate & Other shared-service and footprint needs as a result of the GE HealthCare and GE Vernova spin-offs.SEPARATION COSTS. In November 2021, the Company announced its plan to form three industry-leading, global public companies focused on the growth sectors of aerospace, healthcare and energy. As discussed in Note 2, we completed this plan with the spin of GE Vernova in the second quarter of 2024. Post-separation, we expect to continue to incur operational and transition costs related to ongoing separation activities, including employee costs, professional fees, costs to establish certain stand-alone functions and information technology systems, and other transformation to transition to a stand-alone public company. These costs are presented as separation costs in our Statement of Operations.For the three months ended June 30, 2025 and 2024, we incurred pre-tax separation expense of $47 million and $75 million, recognized $10 million and $216 million of net tax benefits and paid $70 million and $407 million in cash, respectively. For 2024, the net tax benefits included deferred tax benefits associated with state tax attributes.For the six months ended June 30, 2025 and 2024, we incurred pre-tax separation costs of $98 million and $334 million, recognized$20 million and $251 million of net tax benefits, and paid $146 million and $572 million in cash, respectively, related to separation activities.The pre-tax separation costs specifically identifiable to GE HealthCare and GE Vernova are reflected in discontinued operations. We incurred insignificant costs for both GE Healthcare and GE Vernova for the three months ended June 30, 2025, as well as for GE Vernova for the three months ended June 30, 2024. Additionally, we recognized $10 million in pre-tax income, incurred $2 million of net tax expense related to GE HealthCare and we paid $0 million and $38 million in cash related to GE HealthCare and GE Vernova, respectively, for the three months ended June 30, 2024. For the six months ended June 30, 2024, we recognized $10 million in pre-tax income, incurred $2 million of net tax expense, and spent $9 million in cash, related to GE HealthCare. In addition, we incurred pre-tax separation costs of $97 million, recognized $20 million of net tax benefit and paid $121 million in