Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 8

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 8
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776 100 Restructuring and other charges (Note 20)(a)(525)(246)(514)Separation costs (Note 20)(492)(692)(625)Insurance profit (loss) (Note 12)1,022 332 205 Russia & Ukraine charges— — (75)U.S. tax equity profit (loss)(160)(132)(90)Goodwill impairments (Note 7)(251)— — Adjusted Corporate & Other operating costs (Non-GAAP)(864)(990)(912)Corporate & Other operating profit (cost) (GAAP)$(339)$3,943 $(1,876)Less: gains (losses), impairments, Insurance, and restructuring & other524 4,933 (964)Adjusted Corporate & Other operating costs (Non-GAAP)$(864)$(990)$(912)Corporate & Other costs(396)(623)(600)Eliminations(467)(367)(312)Adjusted Corporate & Other operating costs (Non-GAAP)$(864)$(990)$(912)

(a) Included costs of $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit for the year ended December 31, 2024. See Note 24 for further information.

2024 FORM 10-K 11

Adjusted Corporate & Other operating costs* excludes gains (losses) on purchases and sales of business interests, gains (losses) on retained and sold ownership interests and other equity securities, higher-cost restructuring programs, separation costs, our run-off insurance operations, Russia and Ukraine charges, U.S. tax equity profit (loss) and goodwill impairments. We believe that adjusting Corporate & Other costs to exclude the effects of items that are not closely associated with ongoing operations provides management and investors with a meaningful measure that increases the period-to-period comparability of our ongoing corporate costs.

For the year ended December 31, 2024, revenue decreased by $0.2 billion compared to the year ended December 31, 2023, primarily due to higher intercompany eliminations, partially offset by an increase in our run-off insurance operations revenue. Corporate & Other operating profit decreased by $4.3 billion due to $5.2 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our GE HealthCare and AerCap investments, $0.3 billion of higher restructuring and other charges, and $0.3 billion of goodwill impairments, related to our Col