filings.toolsGeneral Electric (GE) 10-K risk factor changes: FY2024 vs FY2023
The 2024-12-31 10-K against the 2023-12-31 one, compared heading by heading and sentence by sentence.
Item 1A0 rewritten0 added0 removed1 unchanged
All filing items1,321 rewritten989 added1,225 removed1,186 unchanged
Summary
counted, not written
- Item 1A headings could not be compared: only 0 carried over between the two years, which usually means one filing was read wrongly, so none is reported as new or removed.
- Sentence by sentence, 989 added, 1,225 removed, 1,321 rewritten and 1,186 unchanged across 4 items that differ.
Sentences by item
24 items, with every count and a link to each item that changed
| Item | Added | Removed | Rewritten | Unchanged |
|---|---|---|---|---|
| Item 1A. Risk Factors 26-33 | 0 | 0 | 0 | 1 |
| Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 8-24 | 0 | 0 | 0 | 1 |
| Item 7A. Quantitative and Qualitative Disclosures About Market Risk 14, 70-71 | 0 | 0 | 0 | 1 |
| Item 1. Business 4-7, 9-11, 74-75 | 0 | 0 | 0 | 1 |
| Item 3. Legal Proceedings 73-74 | 0 | 0 | 0 | 1 |
| Cover and table of contents | 984 | 1,216 | 1,309 | 1,135 |
| Item 1B. Unresolved Staff Comments Not applicable | 0 | 1 | 0 | 0 |
| Item 1C. Cybersecurity 25 | 0 | 1 | 0 | 0 |
| Item 2. Properties 4 | 0 | 0 | 0 | 1 |
| Item 4. Mine Safety Disclosures Not applicable | 0 | 0 | 0 | 1 |
| Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 | 0 | 0 | 0 | 1 |
| Item 6. [Reserved] Not applicable | 0 | 0 | 0 | 1 |
| Item 8. Financial Statements and Supplementary Data 38-77 | 0 | 0 | 0 | 1 |
| Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure Not applicable | 0 | 0 | 0 | 1 |
| Item 9A. Controls and Procedures 34 | 0 | 0 | 0 | 1 |
| Item 9B. Other Information 78 | 0 | 0 | 0 | 1 |
| Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable | 0 | 0 | 0 | 1 |
| Item 10. Directors, Executive Officers and Corporate Governance 77-78, (a) | 0 | 0 | 0 | 1 |
| Item 11. Executive Compensation (b) | 0 | 0 | 0 | 1 |
| Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters (c) | 0 | 0 | 0 | 1 |
| Item 13. Certain Relationships and Related Transactions, and Director Independence (d) | 0 | 0 | 0 | 1 |
| Item 14. Principal Accountant Fees and Services (e) | 0 | 0 | 0 | 1 |
| Item 15. Exhibits and Financial Statement Schedules 78-81 | 0 | 0 | 0 | 1 |
| Item 16. Form 10-K Summary Not applicable | 5 | 7 | 12 | 31 |
Underlined words on a shaded ground are new in FY2024; struck-through words were in FY2023. Sentences that are wholly new or wholly gone are labelled rather than marked.
Cover and table of contents
1,309 rewritten, 984 added, 1,216 removed, 1,135 unchanged
For the fiscal year ended December 31, [removed: 2023][added: 2024]
[removed: ][added: ]
The aggregate market value of the outstanding common equity of the registrant not held by affiliates as of the last business day of the registrant’s most recently completed second fiscal quarter was at least [removed: $117.9] [added: $170.0] billion.
There were [removed: 1,088,334,304] [added: 1,073,290,505] shares of common stock with a par value of $0.01 outstanding at January 15, [removed: 2024.][added: 2025.]
The definitive proxy statement relating to the registrant’s Annual Meeting of Shareholders, to be held May [removed: 7, 2024,] [added: 6, 2025,] is incorporated by reference into Part III to the extent described therein.
| [Forward-Looking [removed: Statements](#if2092b9b2d904d44b27e92b75eb3740e_10)] [added: Statements](#id913165b39c64b39b915c0e0726aa953_7)] | | | [removed: [3](#if2092b9b2d904d44b27e92b75eb3740e_10)] [added: [3](#id913165b39c64b39b915c0e0726aa953_7)] | | |
| [Management’s Discussion and Analysis of Financial Condition and Results of Operations [removed: (MD&A)](#if2092b9b2d904d44b27e92b75eb3740e_16)] [added: (MD&A)](#id913165b39c64b39b915c0e0726aa953_16)] | | | [removed: [6](#if2092b9b2d904d44b27e92b75eb3740e_16)] [added: [8](#id913165b39c64b39b915c0e0726aa953_16)] | | |
| [Consolidated [removed: Results](#if2092b9b2d904d44b27e92b75eb3740e_19)] [added: Results](#id913165b39c64b39b915c0e0726aa953_19)] | | | [removed: [6](#if2092b9b2d904d44b27e92b75eb3740e_19)] [added: [8](#id913165b39c64b39b915c0e0726aa953_19)] | | |
[removed: | [Segment Operations](#if2092b9b2d904d44b27e92b75eb3740e_22) | | | [7](#if2092b9b2d904d44b27e92b75eb3740e_22) | | |][added: SEGMENT OPERATIONS]
| [Other Consolidated [removed: Information](#if2092b9b2d904d44b27e92b75eb3740e_217)] [added: Information](#id913165b39c64b39b915c0e0726aa953_205)] | | | [removed: [14](#if2092b9b2d904d44b27e92b75eb3740e_217)] [added: [12](#id913165b39c64b39b915c0e0726aa953_205)] | | |
| [Capital Resources and [removed: Liquidity](#if2092b9b2d904d44b27e92b75eb3740e_43)] [added: Liquidity](#id913165b39c64b39b915c0e0726aa953_37)] | | | [removed: [15](#if2092b9b2d904d44b27e92b75eb3740e_43)] [added: [13](#id913165b39c64b39b915c0e0726aa953_37)] | | |
| [Critical Accounting [removed: Estimates](#if2092b9b2d904d44b27e92b75eb3740e_223)] [added: Estimates](#id913165b39c64b39b915c0e0726aa953_226)] | | | [removed: [18](#if2092b9b2d904d44b27e92b75eb3740e_223)] [added: [16](#id913165b39c64b39b915c0e0726aa953_226)] | | |
| [removed: [Other Items](#if2092b9b2d904d44b27e92b75eb3740e_226)] [added: Other items] | | | [removed: [20](#if2092b9b2d904d44b27e92b75eb3740e_226)] | | | [added: | | | | | | 151 | | | 92 | | | 74 | | |]
| [Non-GAAP Financial [removed: Measures](#if2092b9b2d904d44b27e92b75eb3740e_58)] [added: Measures](#id913165b39c64b39b915c0e0726aa953_55)] | | | [removed: [23](#if2092b9b2d904d44b27e92b75eb3740e_58)] [added: [21](#id913165b39c64b39b915c0e0726aa953_55)] | | |
| [Other Financial [removed: Data](#if2092b9b2d904d44b27e92b75eb3740e_199)] [added: Data](#id913165b39c64b39b915c0e0726aa953_232)] | | | [removed: [26](#if2092b9b2d904d44b27e92b75eb3740e_199)] [added: [24](#id913165b39c64b39b915c0e0726aa953_232)] | | |
| [Legal [removed: Proceedings](#if2092b9b2d904d44b27e92b75eb3740e_67)] [added: Proceedings](#id913165b39c64b39b915c0e0726aa953_211)] | | | [removed: [36](#if2092b9b2d904d44b27e92b75eb3740e_67)] [added: [33](#id913165b39c64b39b915c0e0726aa953_211)] | | |
| [Management and Auditor's [removed: Reports](#if2092b9b2d904d44b27e92b75eb3740e_211)] [added: Reports](#id913165b39c64b39b915c0e0726aa953_238)] | | | [removed: [37](#if2092b9b2d904d44b27e92b75eb3740e_211)] [added: [34](#id913165b39c64b39b915c0e0726aa953_238)] | | |
| Audited [Financial Statements and [removed: Notes](#if2092b9b2d904d44b27e92b75eb3740e_235)] [added: Notes](#id913165b39c64b39b915c0e0726aa953_67)] | | | [removed: [41](#if2092b9b2d904d44b27e92b75eb3740e_235)] [added: [38](#id913165b39c64b39b915c0e0726aa953_67)] | | |
| [removed: [Statement of Earnings (Loss)](#if2092b9b2d904d44b27e92b75eb3740e_235)] [added: STATEMENT OF EARNINGS (LOSS)] | | | [removed: [41](#if2092b9b2d904d44b27e92b75eb3740e_235)] | | | [added: | | | | | | | | | | | | | | |]
| [Statement of Financial [removed: Position](#if2092b9b2d904d44b27e92b75eb3740e_76)] [added: Position](#id913165b39c64b39b915c0e0726aa953_70)] | | | [removed: [42](#if2092b9b2d904d44b27e92b75eb3740e_76)] [added: [39](#id913165b39c64b39b915c0e0726aa953_70)] | | |
| [Statement of Comprehensive Income [removed: (Loss)](#if2092b9b2d904d44b27e92b75eb3740e_85)] [added: (Loss)](#id913165b39c64b39b915c0e0726aa953_79)] | | | [removed: [44](#if2092b9b2d904d44b27e92b75eb3740e_85)] [added: [41](#id913165b39c64b39b915c0e0726aa953_79)] | | |
| [Statement of Changes in Shareholders' [removed: Equity](#if2092b9b2d904d44b27e92b75eb3740e_88)] [added: Equity](#id913165b39c64b39b915c0e0726aa953_82)] | | | [removed: [44](#if2092b9b2d904d44b27e92b75eb3740e_88)] [added: [41](#id913165b39c64b39b915c0e0726aa953_82)] | | |
| [Note 1 Basis of Presentation and Summary of Significant Accounting [removed: Policies](#if2092b9b2d904d44b27e92b75eb3740e_238)] [added: Policies](#id913165b39c64b39b915c0e0726aa953_244)] | | | [removed: [45](#if2092b9b2d904d44b27e92b75eb3740e_238)] [added: [42](#id913165b39c64b39b915c0e0726aa953_244)] | | |
| [Note 2 Businesses Held for Sale and Discontinued [removed: Operations](#if2092b9b2d904d44b27e92b75eb3740e_241)] [added: Operations](#id913165b39c64b39b915c0e0726aa953_247)] | | | [removed: [50](#if2092b9b2d904d44b27e92b75eb3740e_241)] [added: [48](#id913165b39c64b39b915c0e0726aa953_247)] | | |
| [Note 3 Investment [removed: Securities](#if2092b9b2d904d44b27e92b75eb3740e_103)] [added: Securities](#id913165b39c64b39b915c0e0726aa953_94)] | | | [removed: [52](#if2092b9b2d904d44b27e92b75eb3740e_103)] [added: [50](#id913165b39c64b39b915c0e0726aa953_94)] | | |
| [Note 4 Current and Long-Term [removed: Receivables](#if2092b9b2d904d44b27e92b75eb3740e_109)] [added: Receivables](#id913165b39c64b39b915c0e0726aa953_100)] | | | [removed: [54](#if2092b9b2d904d44b27e92b75eb3740e_109)] [added: [52](#id913165b39c64b39b915c0e0726aa953_100)] | | |
| [Note 5 Inventories, Including Deferred Inventory [removed: Costs](#if2092b9b2d904d44b27e92b75eb3740e_115)] [added: Costs](#id913165b39c64b39b915c0e0726aa953_106)] | | | [removed: [54](#if2092b9b2d904d44b27e92b75eb3740e_115)] [added: [52](#id913165b39c64b39b915c0e0726aa953_106)] | | |
| [Note 6 Property, Plant and [removed: Equipment] [added: Equipment](#id913165b39c64b39b915c0e0726aa953_250)] and Operating [removed: Leases](#if2092b9b2d904d44b27e92b75eb3740e_247)] [added: Leases] | | | [removed: [55](#if2092b9b2d904d44b27e92b75eb3740e_247)] [added: [52](#id913165b39c64b39b915c0e0726aa953_250)] | | |
| [Note 7 Goodwill and Other Intangible [removed: Assets](#if2092b9b2d904d44b27e92b75eb3740e_250)] [added: Assets](#id913165b39c64b39b915c0e0726aa953_253)] | | | [removed: [55](#if2092b9b2d904d44b27e92b75eb3740e_250)] [added: [53](#id913165b39c64b39b915c0e0726aa953_253)] | | |
[removed: | [Note](#if2092b9b2d904d44b27e92b75eb3740e_130) [8](#if2092b9b2d904d44b27e92b75eb3740e_130) [Contract and Other Deferred Assets] [added: CONTRACT AND OTHER DEFERRED ASSETS, CONTRACT LIABILITIES AND DEFERRED INCOME] & [removed: Progress Collections and Deferred Income](#if2092b9b2d904d44b27e92b75eb3740e_130) | | | [56](#if2092b9b2d904d44b27e92b75eb3740e_130) | | |][added: PROGRESS COLLECTIONS]
| [removed: [Note](#if2092b9b2d904d44b27e92b75eb3740e_253) [9](#if2092b9b2d904d44b27e92b75eb3740e_253) [All] [added: [Note 9 All] Other [removed: Assets](#if2092b9b2d904d44b27e92b75eb3740e_253)] [added: Assets](#id913165b39c64b39b915c0e0726aa953_118)] | | | [removed: [57](#if2092b9b2d904d44b27e92b75eb3740e_253)] [added: [55](#id913165b39c64b39b915c0e0726aa953_118)] | | |
| [Note [removed: 1](#if2092b9b2d904d44b27e92b75eb3740e_142)[2](#if2092b9b2d904d44b27e92b75eb3740e_142) [Insurance] [added: 12 Insurance] Liabilities and Annuity [removed: Benefits](#if2092b9b2d904d44b27e92b75eb3740e_142)] [added: Benefits](#id913165b39c64b39b915c0e0726aa953_127)] | | | [removed: [58](#if2092b9b2d904d44b27e92b75eb3740e_142)] [added: [55](#id913165b39c64b39b915c0e0726aa953_127)] | | |
| [Note [removed: 1](#if2092b9b2d904d44b27e92b75eb3740e_262)[3](#if2092b9b2d904d44b27e92b75eb3740e_262) [Postretirement] [added: 13 Postretirement] Benefit [removed: Plans](#if2092b9b2d904d44b27e92b75eb3740e_262)] [added: Plans](#id913165b39c64b39b915c0e0726aa953_265)] | | | [removed: [61](#if2092b9b2d904d44b27e92b75eb3740e_262)] [added: [57](#id913165b39c64b39b915c0e0726aa953_265)] | | |
| [removed: [Note 1](#if2092b9b2d904d44b27e92b75eb3740e_265)[4](#if2092b9b2d904d44b27e92b75eb3740e_265) [Current and] All [removed: Other Liabilities](#if2092b9b2d904d44b27e92b75eb3740e_265)] [added: other current liabilities (Note 14)] | | | [removed: [67](#if2092b9b2d904d44b27e92b75eb3740e_265)] [added: 4,920] | | | [added: 4,860 | | |]
| [Note [removed: 1](#if2092b9b2d904d44b27e92b75eb3740e_268)[5](#if2092b9b2d904d44b27e92b75eb3740e_268) [Income Taxes](#if2092b9b2d904d44b27e92b75eb3740e_268)] [added: 15 Income Taxes](#id913165b39c64b39b915c0e0726aa953_271)] | | | [removed: [67](#if2092b9b2d904d44b27e92b75eb3740e_268)] [added: [63](#id913165b39c64b39b915c0e0726aa953_271)] | | |
| [Note [removed: 1](#if2092b9b2d904d44b27e92b75eb3740e_157)[6](#if2092b9b2d904d44b27e92b75eb3740e_157) [Shareholders' Equity](#if2092b9b2d904d44b27e92b75eb3740e_157)] [added: 16 Shareholders' Equity](#id913165b39c64b39b915c0e0726aa953_145)] | | | [removed: [70](#if2092b9b2d904d44b27e92b75eb3740e_157)] [added: [66](#id913165b39c64b39b915c0e0726aa953_145)] | | |
| [Note 17 Share-Based [removed: Compensation](#if2092b9b2d904d44b27e92b75eb3740e_274)] [added: Compensation](#id913165b39c64b39b915c0e0726aa953_277)] | | | [removed: [71](#if2092b9b2d904d44b27e92b75eb3740e_274)] [added: [67](#id913165b39c64b39b915c0e0726aa953_277)] | | |
| [Note [removed: 18 Earnings] [added: 1](#id913165b39c64b39b915c0e0726aa953_280)[8](#id913165b39c64b39b915c0e0726aa953_280) [Earnings] Per Share [removed: Information](#if2092b9b2d904d44b27e92b75eb3740e_277)] [added: Information](#id913165b39c64b39b915c0e0726aa953_280)] | | | [removed: [72](#if2092b9b2d904d44b27e92b75eb3740e_277)] [added: [68](#id913165b39c64b39b915c0e0726aa953_280)] | | |
| [Note [removed: 19 Other Income](#if2092b9b2d904d44b27e92b75eb3740e_166)] [added: 1](#id913165b39c64b39b915c0e0726aa953_154)[9](#id913165b39c64b39b915c0e0726aa953_154) [Other Income](#id913165b39c64b39b915c0e0726aa953_154)] (Loss) | | | [removed: [72](#if2092b9b2d904d44b27e92b75eb3740e_166)] [added: [68](#id913165b39c64b39b915c0e0726aa953_154)] | | |
| [removed: [Note 20 Restructuring] [added: [Note](#id913165b39c64b39b915c0e0726aa953_157) [20](#id913165b39c64b39b915c0e0726aa953_157) [Restructuring] Charges and Separation [removed: Costs](#if2092b9b2d904d44b27e92b75eb3740e_172)] [added: Costs](#id913165b39c64b39b915c0e0726aa953_157)] | | | [removed: [73](#if2092b9b2d904d44b27e92b75eb3740e_172)] [added: [69](#id913165b39c64b39b915c0e0726aa953_157)] | | |
| 1 Neumann Way | | | Evendale | | | OH | | | | | | 45215 | | |
| [About GE](#id913165b39c64b39b915c0e0726aa953_199) Aerospace | | | [4](#id913165b39c64b39b915c0e0726aa953_199) | | |
| [Segment Operations](#id913165b39c64b39b915c0e0726aa953_22) | | | [9](#id913165b39c64b39b915c0e0726aa953_22) | | |
| [Corporate](#id913165b39c64b39b915c0e0726aa953_31) & Other | | | [11](#id913165b39c64b39b915c0e0726aa953_31) | | |
| [Other Items](#id913165b39c64b39b915c0e0726aa953_229) | | | [18](#id913165b39c64b39b915c0e0726aa953_229) | | |
| [Cybersecurity](#id913165b39c64b39b915c0e0726aa953_235) | | | [25](#id913165b39c64b39b915c0e0726aa953_235) | | |
| [Risk Factors](#id913165b39c64b39b915c0e0726aa953_208) | | | [26](#id913165b39c64b39b915c0e0726aa953_208) | | |
| [Statement of Cash Flow](#id913165b39c64b39b915c0e0726aa953_76)s | | | [40](#id913165b39c64b39b915c0e0726aa953_76) | | |
| [Note 10 Borrowings](#id913165b39c64b39b915c0e0726aa953_259) | | | [55](#id913165b39c64b39b915c0e0726aa953_259) | | |
| [Note 11 Accounts Payable](#id913165b39c64b39b915c0e0726aa953_124) | | | [55](#id913165b39c64b39b915c0e0726aa953_124) | | |
| [Note 14 Sales Discounts and Allowances & All Other](#id913165b39c64b39b915c0e0726aa953_139) [Liabilities](#id913165b39c64b39b915c0e0726aa953_139) | | | [63](#id913165b39c64b39b915c0e0726aa953_139) | | |
| [Note 25](#id913165b39c64b39b915c0e0726aa953_295) [Segment](#id913165b39c64b39b915c0e0726aa953_295) and Geographic Information & Remaining Performance Obligation | | | [74](#id913165b39c64b39b915c0e0726aa953_295) | | |
| [Signatures](#id913165b39c64b39b915c0e0726aa953_313) | | | [83](#id913165b39c64b39b915c0e0726aa953_313) | | |
- market or other developments that may affect demand or the financial strength and performance of airframers, airlines, suppliers and other key aerospace and defense industry participants, such as demand for air travel, supply chain or other production constraints, shifts in U.S. or foreign government defense programs and other industry dynamics;
- pricing, cost, volume and the timing of sales, investment and production by us and our customers, suppliers or other industry participants;
- operational execution on our business plans, including our performance amidst market growth and ramping newer product platforms, meeting delivery and other contractual obligations, improving turnaround times in our services businesses and reducing costs over time;
2024 FORM 10-K 3
ABOUT GE AEROSPACE. General Electric Company operates as GE Aerospace (GE Aerospace or the Company).
GE Aerospace is a global aerospace leader with the industry's largest and growing commercial propulsion fleet.
The Company’s installed base of approximately 45,000 commercial and 25,000 military engines drives our aftermarket services business, which represents approximately 70% of revenue, reflecting the strength of customer demand across our business.
Through FLIGHT DECK, the Company's proprietary lean operating model, GE Aerospace is prioritizing safety, quality, delivery and cost, to drive focused execution and bridge strategy to results.
We are focused on delivering against our strategic priorities for today (services and readiness), tomorrow (delivering the production and services ramp for new engines) and the future (inventing next generation flight technology for our commercial and defense customers).
Our global team is building on more than a century of innovation and learning, as we invent the future of flight, lift people up and bring them home safely.
In connection with these separations, the historical results of GE HealthCare and GE Vernova, and certain assets and liabilities included in the separations, are reported in our consolidated financial statements as discontinued operations.
SEGMENTS. GE Aerospace operates through two reportable segments: Commercial Engines & Services and Defense & Propulsion Technologies.
Services include maintenance, repair and overhaul (MRO) of engines and the sale of spare parts, and we offer services under a variety of arrangements such as long-term service agreements or time and material contracts.
CES was approximately 70% of total revenue for the year ended December 31, 2024, with services representing 74% of total CES revenue.
Our CES customers for equipment and services consist primarily of airframers and airlines, including both Boeing and Airbus, and third-party MRO shops, to whom we sell equipment and license MRO technology.
Depending on the aircraft model, airline customers may have a choice between our engines and those of other manufacturers or, as in the case of some Boeing models, our engines may be the sole source engine for a particular aircraft.
Commercial and financial dynamics for major engine platforms often play out over the course of many years, as new product development cycles are long and, after initial sale, commercial engines can operate for decades with services in the aftermarket.
In the narrowbody aircraft segment, we are in the midst of a significant ramp in production of the LEAP engine, which entered into service in 2016 and is expected in the coming years to overtake the mature CFM56 as the industry’s most utilized narrowbody engine.
This is expected to also drive a significant increase in shop visits and need for MRO capacity as LEAP engines come due for services.
In the widebody aircraft segment, we have a range of engine platforms that are in different stages of their lifecycles.
These include the more mature CF6 and GE90 engines, as well as the GEnx engine that entered into service in 2011 and the GE9X engine that will power the Boeing 777X when that aircraft enters into service.
We also have engines that power regional and business aircraft.
Notably, CFM International's Revolutionary Innovation for Sustainable Engines (RISE) program is a suite of pioneering technologies including Open Fan, compact core and hybrid electric systems for compatibility with alternative fuels.
We recently completed more than 250 tests on developing a full-scale Open Fan engine.
This is one of several initiatives underway to help invent the future of flight.
DEFENSE & PROPULSION TECHNOLOGIES. Defense & Propulsion Technologies (DPT) is a leading provider of defense engines and critical aircraft systems, and it consists of our Defense & Systems and Propulsion & Additive Technologies businesses.
DPT was approximately 25% of total revenue for the year ended December 31, 2024, with services representing 56% of total DPT revenue.
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| [About General Electric](#if2092b9b2d904d44b27e92b75eb3740e_196) | | | [4](#if2092b9b2d904d44b27e92b75eb3740e_196) | | |
| [Corporate](#if2092b9b2d904d44b27e92b75eb3740e_37) | | | [13](#if2092b9b2d904d44b27e92b75eb3740e_37) | | |
| [Cybersecurity](#if2092b9b2d904d44b27e92b75eb3740e_2145) | | | [26](#if2092b9b2d904d44b27e92b75eb3740e_2145) | | |
| [Risk Factors](#if2092b9b2d904d44b27e92b75eb3740e_202) | | | [27](#if2092b9b2d904d44b27e92b75eb3740e_202) | | |
| [Statement of Cash Flows](#if2092b9b2d904d44b27e92b75eb3740e_82) | | | [43](#if2092b9b2d904d44b27e92b75eb3740e_82) | | |
| [Note 1](#if2092b9b2d904d44b27e92b75eb3740e_256)[0](#if2092b9b2d904d44b27e92b75eb3740e_256) [Borrowings](#if2092b9b2d904d44b27e92b75eb3740e_256) | | | [58](#if2092b9b2d904d44b27e92b75eb3740e_256) | | |
| [Note 1](#if2092b9b2d904d44b27e92b75eb3740e_139)[1](#if2092b9b2d904d44b27e92b75eb3740e_139) [Accounts Payable and Equipment Project](#if2092b9b2d904d44b27e92b75eb3740e_139) Payables | | | [58](#if2092b9b2d904d44b27e92b75eb3740e_139) | | |
| [Note 25 Operating Segments](#if2092b9b2d904d44b27e92b75eb3740e_295) | | | [78](#if2092b9b2d904d44b27e92b75eb3740e_295) | | |
| [Signatures](#if2092b9b2d904d44b27e92b75eb3740e_325) | | | [87](#if2092b9b2d904d44b27e92b75eb3740e_325) | | |
- market developments or customer actions that may affect demand and the financial performance of major industries and customers we serve, such as demand for air travel and other commercial aviation sector dynamics; pricing, cost, volume and the timing of investment by customers or industry participants and other factors in renewable energy markets; conditions in key geographic markets; technology developments; and other shifts in the competitive landscape for our products and services;
- operational execution and improvements by our businesses, including the success at our Renewable Energy business in improving product quality and fleet availability, executing on our product and project cost estimates and delivery schedule projections and other aspects of operational performance, as well as the performance of GE Aerospace amidst market growth and ramping newer product platforms;
2023 FORM 10-K 3
ABOUT GENERAL ELECTRIC. General Electric Company (General Electric, GE or the Company) is a high-tech industrial company that today operates worldwide through three segments: Aerospace, Renewable Energy, and Power.
Our products include commercial and military aircraft engines and systems; wind and other renewable energy generation equipment and grid solutions; and gas, steam, nuclear and other power generation equipment.
We have significant global installed bases of equipment across these sectors, and services to support these products are also an important part of our business alongside new equipment sales.
We previously announced a strategic plan to form three industry-leading, global, investment-grade public companies from (i) our Aerospace business, which we plan to refer to as GE Aerospace, (ii) our portfolio of energy businesses, including our Renewable Energy and Power businesses, which we plan to combine and refer to as GE Vernova, and (iii) our former HealthCare business.
For purposes of this report, we refer to our reporting segments as Aerospace, Renewable Energy and Power.
The composition of these reporting segments is unchanged.
On January 3, 2023, we completed the separation of the HealthCare business from GE through the spin-off of GE HealthCare Technologies Inc. (GE HealthCare).
Additionally, on January 1, 2023, we adopted Accounting Standards Update No. 2018-12, *Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts*.
Over our more than 130-year history, GE’s innovation and technology have improved quality of life around the world by adapting and innovating solutions to pressing global challenges, including our businesses' focuses today on the future of flight and the energy transition.
At GE Aerospace, with a differentiated product and technology portfolio across the commercial and military sectors, we are well positioned to serve customers in expanding and upgrading their fleets amidst the demand ramp for engines and services with recovery from the COVID-19 pandemic.
At the same time, we are working to develop next generation engine programs that will allow a smarter and more efficient future of flight, including efforts to support increased use of sustainable aviation fuel with our engines’ capabilities and developing new engine architectures such as open fan, hybrid electric and hydrogen technologies.
The GE Vernova businesses are positioned to lead the energy transition, helping the energy sector solve for sustainability, reliability and affordability.
These businesses are at the center of a dynamic and growing market, as the world faces a significant increase in electricity demand in the coming decades along with the need to electrify and decarbonize.
With a range of power generation technologies spanning gas power, onshore and offshore wind and others, as well as power grid automation and hardware, these businesses offer solutions for customers to reduce emissions, meet the growth in electricity demand and make energy more accessible globally, secure and resilient.
We believe our businesses’ strategies and focus on these significant global challenges are well aligned with broader goals of sustainable development, and we approach sustainability with GE’s commitment to innovation as a central element.
Sustainability priorities are embedded in our policies, leadership engagement, operating mechanisms, commitments, and, ultimately, our products.
In addition to working to develop technologies that will help build a more sustainable world, we advance GE’s sustainability priorities through our own commitments to our people, communities and planet.
More information that may be of interest to a variety of stakeholders about GE’s sustainability approach, priorities and performance, including about safety, greenhouse gas emission reductions for our own operations and for our products, environmental stewardship, diversity and inclusion (as also discussed further below), supply chain and human rights and other matters, can be found in our Sustainability Report.
In all of our global business activities, we encounter aggressive and able competition.
In many instances, the competitive environment is characterized by changing technology that requires continuing research and development.
With respect to manufacturing operations, we continue to make improvements through deployment of lean initiatives and we believe that, in general, we are one of the leading firms in most of the major industries in which we participate.
An excerpt. Shown here: 40 of 1,309 rewritten, 40 of 984 added and 40 of 1,216 removed. The counts are complete. For every sentence, read Cover and table of contents in the FY2024 filing and the FY2023 filing.
Item 1B. Unresolved Staff Comments Not applicable
0 rewritten, 0 added, 1 removed, 0 unchanged
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Item 1C. Cybersecurity 25
0 rewritten, 0 added, 1 removed, 0 unchanged
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Item 16. Form 10-K Summary Not applicable
12 rewritten, 5 added, 7 removed, 31 unchanged
| Signatures | | | | | | | | | | | | [removed: 87] [added: 83] | | |
(a)Incorporated by reference to "Governance" [added: and “Other Executive Compensation Policies & Practices”] in the [removed: 2023] [added: 2025] Proxy Statement.
(b)Incorporated by reference to "Compensation Discussion & Analysis", “Other Executive Compensation Policies & Practices” and "Management Development & Compensation Committee Report" in the [removed: 2023] [added: 2025] Proxy Statement.
(c)Incorporated by reference to “Stock Ownership Information” and "Equity Compensation Plan Information" in the [removed: 2023] [added: 2025] Proxy Statement.
(d)Incorporated by reference to “Related Person Transactions” and “How We Assess Director Independence” in the [removed: 2023] [added: 2025] Proxy Statement.
(e)Incorporated by reference to “Independent Auditor” in the [removed: 2023] [added: 2025] Proxy Statement for Deloitte [removed: &] [added: and] Touche LLP (PCAOB ID No. [removed: 34).][added: 34) .]
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this annual report on Form 10-K for the fiscal year ended December 31, [removed: 2023,] [added: 2024,] to be signed on its behalf by the undersigned, and in the capacities indicated, thereunto duly authorized in the [removed: City] [added: Village] of [removed: Boston] [added: Evendale] and [removed: Commonwealth] [added: State] of [removed: Massachusetts] [added: Ohio] on the [removed: 2nd] [added: 3rd] day of February [removed: 2024.][added: 2025.]
| | | | [added: /s/] Rahul Ghai [removed: Senior Vice President and Chief] [added: | | | | | | Principal] Financial Officer [removed: (Principal Financial Officer)] | | | [added: | | | February 3, 2025 | | |]
| | | | /s/ [removed: Thomas S. Timko] [added: Robert Giglietti] | | | | | | Principal Accounting Officer | | | | | | February [removed: 2, 2024] [added: 3, 2025] | | |
| | | | [removed: Thomas S. Timko] [added: Robert Giglietti] Vice President, Chief Accounting [removed: Officer and] [added: Officer,] Controller [added: and Treasurer] | | | | | | | | | | | | | | |
| | | | /s/ H. Lawrence Culp, Jr. | | | | | | Principal Executive Officer | | | | | | February [removed: 2, 2024] [added: 3, 2025] | | |
| | | | Darren [removed: W.] McDew* | | | | | | Director | | | | | | | | |
82 2024 FORM 10-K
| By | | | /s/ Robert Giglietti | | |
| | | | Robert Giglietti Vice President, Chief Accounting Officer, Controller and Treasurer (Principal Accounting Officer) | | |
| | | | February 3, 2025 | | | | | | | | | | | | | | |
2024 FORM 10-K 83
2023 FORM 10-K 86
| By | | | /s/ Rahul Ghai | | |
| | | | /s/ Rahul Ghai | | | | | | Principal Financial Officer | | | | | | February 2, 2024 | | |
| | | | Paula Rosput Reynolds* | | | | | | Director | | | | | | | | |
| | | | Jessica Uhl* | | | | | | Director | | | | | | | | |
| | | | February 2, 2024 | | | | | | | | | | | | | | |
2023 FORM 10-K 87