General Electric 10-K 2025-12-31
Filed 2026-01-29. 24 sections, 524K characters. Original on sec.gov · Markdown · JSON
Cover and table of contents
United States Securities and Exchange Commission
WASHINGTON, D.C. 20549
FORM 10-K
☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended December 31, 2025
Commission file number 001-00035

GENERAL ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
| New York | 14-0689340 | |||||||||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||
| 1 Neumann Way | Evendale | OH | 45215 | |||||||||||
| (Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code) (513) 243-2000
Securities Registered Pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Common stock, par value $0.01 per share | GE | New York Stock Exchange | ||||||
| 1.875% Notes due 2027 | GE 27E | New York Stock Exchange | ||||||
| 1.500% Notes due 2029 | GE 29 | New York Stock Exchange | ||||||
| 7 1/2% Guaranteed Subordinated Notes due 2035 | GE /35 | New York Stock Exchange | ||||||
| 2.125% Notes due 2037 | GE 37 | New York Stock Exchange |
| Securities Registered Pursuant to Section 12(g) of the Act: | ||
| (Title of class) |
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No ☑
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☑ | Accelerated filer | ☐ | ||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||||||||
| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ¨
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑
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 $270.2 billion. There were 1,048,813,612 shares of common stock with a par value of $0.01 outstanding at January 15, 2026.
DOCUMENTS INCORPORATED BY REFERENCE
The definitive proxy statement relating to the registrant’s Annual Meeting of Shareholders, to be held May 5, 2026, is incorporated by reference into Part III to the extent described therein.
TABLE OF CONTENTS
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Item 1. Business 4-7, 9-10, 71-73
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Item 1A. Risk Factors 24-31
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Item 1B. Unresolved Staff Comments Not applicable
Item 1C. Cybersecurity 23
Item 2. Properties 4
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Item 3. Legal Proceedings 70-71
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Item 4. Mine Safety Disclosures Not applicable
| Part II | | | | | | | | | | | | | | |
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22
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Item 6. [Reserved] Not applicable
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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 7-22
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Item 7A. Quantitative and Qualitative Disclosures About Market Risk 13, 68-69
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Item 8. Financial Statements and Supplementary Data 36-73
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Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure Not applicable
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Item 9A. Controls and Procedures 32
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Item 9B. Other Information Not applicable
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Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable
| Part III | | | | | | | | | | | | | | |
Item 10. Directors, Executive Officers and Corporate Governance 74, (a)
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Item 11. Executive Compensation (b)
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Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters (c)
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Item 13. Certain Relationships and Related Transactions, and Director Independence (d)
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Item 14. Principal Accountant Fees and Services (e)
| Part IV | | | | | | | | | | | | | | |
Item 15. Exhibits and Financial Statement Schedules 75-78
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Item 16. Form 10-K Summary Not applicable
| | | | | | | | | | | | | | | | | Signatures | | | | | | | | | | | | 79 | | |
(a)Incorporated by reference to “Governance” and “Other Executive Compensation Policies & Practices” in the 2026 Proxy Statement.
(b)Incorporated by reference to “Compensation”, “Other Executive Compensation Policies & Practices” and "Management Development & Compensation Committee Report” in the 2026 Proxy Statement.
(c)Incorporated by reference to “Stock Ownership Information” and “Equity Compensation Plan Information” in the 2026 Proxy Statement.
(d)Incorporated by reference to “Related Person Transactions” and “How We Assess Director Independence” in the 2026 Proxy Statement.
(e)Incorporated by reference to “Independent Auditor” in the 2026 Proxy Statement for Deloitte and Touche LLP (PCAOB ID No. 34).
78 2025 FORM 10-K
SIGNATURES
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, 2025, to be signed on its behalf by the undersigned, and in the capacities indicated, thereunto duly authorized in the Village of Evendale and State of Ohio on the 29th day of January 2026.
General Electric Company (Registrant)
| By | /s/ Robert Giglietti | ||||
| Robert Giglietti Vice President, Chief Accounting Officer, Controller and Treasurer (Principal Accounting Officer) |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| Signer | Title | Date | |||||||||||||||
| /s/ Rahul Ghai | Principal Financial Officer | January 29, 2026 | |||||||||||||||
| Rahul Ghai Senior Vice President and Chief Financial Officer | |||||||||||||||||
| /s/ Robert Giglietti | Principal Accounting Officer | January 29, 2026 | |||||||||||||||
| Robert Giglietti Vice President, Chief Accounting Officer, Controller and Treasurer | |||||||||||||||||
| /s/ H. Lawrence Culp, Jr. | Principal Executive Officer | January 29, 2026 | |||||||||||||||
| H. Lawrence Culp, Jr.* Chairman of the Board of Directors | |||||||||||||||||
| Sébastien M. Bazin* | Director | ||||||||||||||||
| Margaret Billson* | Director | ||||||||||||||||
| Wesley G. Bush* | Director | ||||||||||||||||
| Thomas Enders* | Director | ||||||||||||||||
| Edward P. Garden* | Director | ||||||||||||||||
| Isabella Goren* | Director | ||||||||||||||||
| Thomas W. Horton* | Director | ||||||||||||||||
| Catherine A. Lesjak* | Director | ||||||||||||||||
| Darren McDew* | Director | ||||||||||||||||
| A majority of the Board of Directors | |||||||||||||||||
| *By | /s/ Brandon Smith | ||||||||||||||||
| Brandon Smith Attorney-in-fact | |||||||||||||||||
| January 29, 2026 |
2025 FORM 10-K 79