General Electric 10-Q 2024-03-31

Filed 2024-04-23. 1 sections, 317K characters. Original on sec.gov · Markdown · JSON

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____ to ____

Commission file number 001-00035

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GENERAL ELECTRIC COMPANY

(Exact name of registrant as specified in its charter)

New York14-0689340
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1 Neumann WayEvendaleOH45215
(Address of principal executive offices)(Zip Code)

(Registrant’s telephone number, including area code) (617) 443-3000

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.01 per shareGENew York Stock Exchange
0.875% Notes due 2025GE 25New York Stock Exchange
1.875% Notes due 2027GE 27ENew York Stock Exchange
1.500% Notes due 2029GE 29New York Stock Exchange
7 1/2% Guaranteed Subordinated Notes due 2035GE /35New York Stock Exchange
2.125% Notes due 2037GE 37New York Stock Exchange

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 þ 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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ 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 the 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 is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

There were 1,094,606,676 shares of common stock with a par value of $0.01 per share outstanding at March 31, 2024.

TABLE OF CONTENTS

Page
Forward-Looking Statements3
About General Electric4
Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A)4
Consolidated Results4
Segment Operations6
Corporate9
Other Consolidated Information10
Capital Resources and Liquidity11
Critical Accounting Estimates13
Other Items13
Non-GAAP Financial Measures14
Controls and Procedures17
Other Financial Data17
Risk Factors17
Financial Statements and Notes26
Statement of Earnings (Loss)26
Statement of Financial Position27
Statement of Cash Flows28
Statement of Comprehensive Income (Loss)29
Statement of Changes in Shareholders' Equity29
Note 1 Basis of Presentation and Summary of Significant Accounting Policies30
Note 2 Businesses Held for Sale and Discontinued Operations30
Note 3 Investment Securities32
Note 4 Current and Long-Term Receivables33
Note 5 Inventories, Including Deferred Inventory Costs34
Note 6 Property, Plant and Equipment and Operating Leases34
Note 7 Goodwill and Other Intangible Assets35
Note 8 Revenues[35](#i6441c326c87a4c009aa8d

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