Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 81

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 4
Chunk 81
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 quarter of 2022, reflecting lower Corporate & Other shared-service and footprint needs as a result of the GE HealthCare and GE Vernova spin-offs. Additionally, for the three and nine months ended September 30, 2024, restructuring and other charges included costs of $328 million and $363 million, respectively, for the settlement of the Sjunde AP-Fonden shareholder lawsuit.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 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.We incurred pre-tax separation costs of $53 million and $74 million, recognized $11 million and $61 million of net tax benefits and paid $56 million and $144 million in cash for the three months ended September 30, 2025 and 2024, respectively. For 2024, the net tax benefits included tax benefit of losses on separation related entity restructuring.We incurred pre-tax separation costs of $150 million and $408 million, recognized $31 million and $311 million of net tax benefits, and paid $202 million and $716 million in cash for the nine months ended September 30, 2025 and 2024, respectively. For 2024, the net tax benefits included deferred tax benefits associated with state tax attributes.The pre-tax separation costs specifically identifiable to GE HealthCare and GE Vernova are reflected in discontinued operations. For the three months ended September 30, 2025 and 2024, we incurred insignificant costs for both GE Healthcare and GE Vernova. Additionally, we had insignificant cash spend related to GE HealthCare and GE Vernova for the three months ended September 30, 2025, and for GE Vernova we paid $66 million in cash for the three months ended September 30, 2024. For the nine months ended September 30, 2025 and 2024, we incurred insignificant costs and cash spend related to GE HealthCare. For GE Vernova, we incurred insignificant costs and cash spend for