The company said it previously announced a strategic plan to form 3 listed companies: GE Aerospace, GE Vernova (combining Renewable Energy and Power), and the former HealthCare business. It also said it plans to pursue a spin-off of GE Vernova.

10-KAnnual reportFiled Feb 2, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said it previously announced a strategic plan to form 3 listed companies: GE Aerospace, GE Vernova (combining Renewable Energy and Power), and the former HealthCare business. It also said it plans to pursue a spin-off of GE Vernova.
The company said it completed the separation of the HealthCare business on January 3, 2023 through the spin-off of GE HealthCare Technologies Inc. The company said GE HealthCare's historical results and certain assets and liabilities included in the spin-off are reported as discontinued operations in its consolidated financial statements.
The company said GE Aerospace has a differentiated product and technology portfolio across the commercial and military sectors and is well positioned to support customers in expanding and upgrading their fleets amid the demand ramp for engines and services following the recovery from the COVID-COVID-19 pandemic. It also said it is developing new engine architectures such as open fan, hybrid electric and hydrogen technologies.
As of December 31, 2023, the company said it employed approximately 125,000 people, including consolidated affiliates, of whom approximately 44,000 were in the United States. The company also said management concluded that its internal control over financial reporting and disclosure controls were effective as of the same date.

Key figures

Fiscal year ended December 31, 2023

Revenue: $68.0B
Net income: $9.5B
EPS: $8.36
Operating cash flow: $5.2B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Plan for 3 listed companies and GE Vernova spin-off

The company said it previously announced a strategic plan to form 3 listed companies: GE Aerospace, GE Vernova (combining Renewable Energy and Power), and the former HealthCare business. It also said it plans to pursue a spin-off of GE Vernova.

Source · Based on the MD&A text of the filing

Separation of GE HealthCare completed on January 3, 2023

The company said it completed the separation of the HealthCare business on January 3, 2023 through the spin-off of GE HealthCare Technologies Inc. The company said GE HealthCare's historical results and certain assets and liabilities included in the spin-off are reported as discontinued operations in its consolidated financial statements.

Source · Based on the MD&A text of the filing

Aerospace commercial and military portfolio and next-generation engine development

The company said GE Aerospace has a differentiated product and technology portfolio across the commercial and military sectors and is well positioned to support customers in expanding and upgrading their fleets amid the demand ramp for engines and services following the recovery from the COVID-COVID-19 pandemic. It also said it is developing new engine architectures such as open fan, hybrid electric and hydrogen technologies.

Source · Based on the MD&A text of the filing

Year-end 2023 headcount and internal control assessment

As of December 31, 2023, the company said it employed approximately 125,000 people, including consolidated affiliates, of whom approximately 44,000 were in the United States. The company also said management concluded that its internal control over financial reporting and disclosure controls were effective as of the same date.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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