GE Aerospace: 10-K Risk Factor Changes

PENSION BENEFITS AND RETIREE HEALTH AND LIFE BENEFITS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Smaller pension plans with pension assets or obligations that have not reached $50 million and other retiree benefit plans are not presented. Effective January 1, 2023, certain postretirement benefit plans and liabilities were legally split or allocated between GE HealthCare, GE Vernova and GE Aerospace. In connection with the separations, net liabilities associated with GE's postretirement benefit plans, including a portion of the principal pension plans, other pension plans and the principal retiree benefit plans, were transferred to GE HealthCare and GE Vernova and are now reported in discontinued operations. See Note 2 for more information regarding the separations. The amounts that remain with GE Aerospace following the separations are shown as continuing operations in the aggregate rather than for each remaining split plan. Assumptions used in calculations, estimates of future benefit payments and funding, and other forward looking statements are for continuing operations unless otherwise noted. 2024 FORM 10-K 57 2024 FORM 10-K 57 2024 FORM 10-K 57 DESCRIPTION OF OUR PLANSPlan CategoryParticipantsFundingCommentsPrincipal Pension PlansGE Aerospace Pension PlanCovers U.S. GE Aerospace participants: ~79,000 retirees and beneficiaries, ~34,000 vested former employees and ~9,000 active employeesOur funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws. We may decide to contribute additional amounts beyond this level.Closed to new participants since 2012. Benefits for employees with salaried benefits were frozen effective January 1, 2021, and thereafter these employees receive increased company contributions in the company sponsored defined contribution plan in lieu of participation in a defined benefit plan (announced October 2019). GE Aerospace Supplementary Pension PlanProvides supplementary benefits to higher-level, longer-service U.S. employeesUnfunded. We pay benefits on a pay-as-you-go basis from company cash.The annuity benefit has been closed to new participants since 2011 and has been replaced by an installment benefit (which was closed to new executives after 2020). Benefits for employees who became executives before 2011 were frozen effective January 1, 2021, and thereafter these employees accrue the installment benefit.Other Pension Plans(a)9 U.S. and non-U.S. pension plans with pension assets or obligations that have reached $50 millionCovers ~10,500 retirees and beneficiaries, ~10,300 vested former employees and ~600 active employeesOur funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws in each country. We may decide to contribute additional amounts beyond this level. We pay benefits for some plans from company cash. In certain countries, benefit accruals have ceased and/or have been closed to new hires as of various dates.Principal Retiree Benefit PlansProvides health and life insurance benefits to certain eligible participantsCovers U.S. GE Aerospace participants: ~45,800 retirees and dependents and ~10,000 active employeesWe fund retiree benefit plans on a pay-as-you-go basis and the retiree benefit insurance trust at our discretion.Participants share in the cost of the healthcare benefits. Covers U.S. GE Aerospace participants: ~79,000 retirees and beneficiaries, ~34,000 vested former employees and ~9,000 active employees Other Pension Plans(a) 9 U.S. and non-U.S. pension plans with pension assets or obligations that have reached $50 million Covers ~10,500 retirees and beneficiaries, ~10,300 vested former employees and ~600 active employees Covers U.S. GE Aerospace participants: ~45,800 retirees and dependents and ~10,000 active employees (a) Plans for GE Aerospace that reach $50 million are not removed from the presentation unless part of a disposition or plan termination. FUNDING STATUS BY PLAN TYPEBenefit ObligationFair Value of AssetsDeficit/(Surplus)202420232024202320242023Principal Pension Plans:GE Aerospace Pension Plan (subject to regulatory funding)$21,010 $22,437 $19,020 $20,253 $1,990 $2,184 GE Aerospace Supplementary Pension Plan2,814 3,000 — — 2,814 3,000 23,824 25,437 19,020 20,253 4,804 5,184 Other Pension Plans:Subject to regulatory funding2,736 3,225 3,592 3,913 (856)(688)Not subject to regulatory funding404 440 — — 404 440 Principal retiree benefit plans for GE Aerospace1,202 1,289 6 8 1,196 1,281 Total plans subject to regulatory funding23,746 25,662 22,612 24,166 1,134 1,496 Total plans not subject to regulatory funding4,420 4,729 6 8 4,414 4,721 Total plans 28,166 30,391 22,618 24,174 5,548 6,217 Due to the spin-off of Vernova on April 2, 2024, as discussed in Note 1, we have excluded 2023 GE Vernova benefit obligations of $18,258, assets of $16,342, and a deficit of $1,916 from the above funding status by plan type chart. FUNDING. The Employee Retirement Income Security Act (ERISA) determines minimum funding requirements in the U.S. No contributions were required or made for the GE Aerospace Pension Plan during 2024 and based on our current assumptions, we do not anticipate having to make additional required contributions in the near future. On an ERISA basis, our estimate for 2024 is that the GE Aerospace Pension Plan was 85% funded and the U.S. GAAP funded status is 91%. 58 2024 FORM 10-K 58 2024 FORM 10-K 58 2024 FORM 10-K In 2025, we expect to make payments of approximately $210 million for our GE Aerospace Supplementary Pension Plan benefits and remaining principal pension plans administrative costs. We also expect to contribute approximately $40 million to other pension plans in 2025. We fund retiree benefit plans on a pay-as-you-go basis and the retiree benefit insurance trust at our discretion. We expect to contribute approximately $120 million to fund such benefits in 2025. COST OF OUR BENEFITS PLANS AND ASSUMPTIONS202420232022Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Components of expense (income)Service cost - operating$71 $22 $13 $94 $37 $17 $221 $86 $39 Interest cost1,401 227 71 1,892 422 111 2,069 398 108 Expected return on plan assets(1,751)(310)— (2,376)(587)— (3,142)(967)— Amortization of net loss (gain)(468)41 (82)(723)20 (124)1,422 101 (115)Amortization of prior service cost (credit)6 (1)(103)5 (4)(148)5 (8)(235)Curtailment / settlement loss (gain)— — — (6)— — (6)— Non-operating$(812)$(43)$(114)$(1,202)$(155)$(161)$354 $(482)$(242)Net periodic expense (income)$(741)$(21)$(101)$(1,108)$(118)$(144)$575 $(396)$(203)Less: discontinued operations(88)(12)(15)(377)(78)(57)270 (320)(134)Continuing operations - net periodic expense (income)$(653)$(9)$(86)$(731)$(40)$(87)$305 $(76)$(69)Weighted-average benefit obligations assumptionsDiscount rate5.67 %5.48 %5.51 %5.18 %3.93 %5.09 %5.53 %4.59 %5.43 %Compensation increases6.00 3.10 6.00 3.86 2.24 3.25 3.07 2.44 3.12 Initial healthcare trend rate(a)N/AN/A7.00 N/AN/A6.50 N/AN/A6.40 Weighted-average benefit cost assumptionsDiscount rate5.18 3.93 5.09 5.53 4.59 5.43 2.94 1.93 2.64 Expected rate of return on plan assets7.00 5.34 — 7.00 5.66 — 6.00 4.80 — (a) Current forecast is 7%, but is estimated to decline to 5% for 2034 and thereafter. Net periodic benefit income from continuing operations in 2025 is estimated to be approximately $725 million, which is a decrease of approximately $25 million as compared to 2024. The decrease is primarily due to investment performance offset by the impact of discount rates. The components of net periodic benefit costs, other than the service cost component, are included in Non-operating benefit cost (income) in our Statement of Earnings (Loss). 2024 FORM 10-K 59 2024 FORM 10-K 59 2024 FORM 10-K 59 PLAN FUNDED STATUS AND AMOUNTS RECORDED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (INCOME)20242023Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Change in benefit obligationsBalance at January 1$36,217 $10,377 $2,055 $53,591 $13,916 $3,304 Service cost71 22 13 94 37 17 Interest cost1,401 227 71 1,892 422 111 Participant contributions8 4 21 10 19 31 Plan amendments— — — 49 — — Actuarial loss (gain) - net(1,049)(a)(435)(a)(15)(a)1,081 (a)526 (a)(5)Benefits paid(1,957)(305)(192)(2,503)(618)(254)Dispositions/acquisitions/other - net(10,867)(6,548)(751)(17,997)(4,387)(1,149)Exchange rate adjustments— (202)— — 462 — Balance at December 31$23,824 (b)$3,140 $1,202 (c)$36,217 $10,377 $2,055 Change in plan assetsBalance at January 1$29,744 $10,764 $8 $44,993 $14,663 $10 Actual return on plan assets440 (109)— 1,869 442 — Employer contributions216 60 169 212 161 221 Participant contributions8 4 21 10 19 31 Benefits paid(1,957)(305)(192)(2,503)(618)(254)Dispositions/acquisitions/other - net(9,431)(6,611)— (14,837)(4,439)— Exchange rate adjustments— (211)— — 536 — Balance at December 31$19,020 $3,592 $6 $29,744 $10,764 $8 Funded status - surplus (deficit)$(4,804)$452 $(1,196)$(6,473)$387 $(2,047)Amounts recorded inStatement of Financial PositionContinuing operations:Non-current assets - other$— $876 $— $— $714 $— Current liabilities - other(199)(34)(118)(194)(35)(128)Non-current liabilities - compensation and benefits (4,605)(390)(1,078)(4,990)(431)(1,153)Discontinued operations:Non-current assets— — — — 775 — Current and non-current liabilities— — — (1,289)(636)(766)Net amount recorded$(4,804)$452 $(1,196)$(6,473)$387 $(2,047)Amounts recorded in Accumulated other comprehensive loss (income)Prior service cost (credit)$(40)$9 $(455)$(25)$(16)$(909)Net loss (gain)(530)803(559)(1,454)1,680 (990)Total recorded in Accumulated other comprehensive loss (income)$(570)$812 $(1,014)$(1,479)$1,664 $(1,899) (a)Principally due to impact of discount rates. (b)The benefit obligation for the GE Aerospace Supplementary Pension Plan, which is unfunded, was $2,814 million at December 31, 2024. (c)The benefit obligation for retiree health plans for GE Aerospace was $716 million at December 31, 2024. ASSUMPTIONS USED IN CALCULATIONS. Our defined benefit pension plans are accounted for on an actuarial basis, which requires the selection of various assumptions, including a discount rate, a compensation assumption, an expected return on assets, mortality rates of participants and expectation of mortality improvement. Projected benefit obligations are measured as the present value of expected benefit payments. We discount those cash payments using a discount rate. We determine the discount rate using the weighted-average yields on high-quality fixed-income securities with maturities that correspond to the payment of benefits. Lower discount rates increase present values and generally increase subsequent-year pension expense; higher discount rates decrease present values and generally reduce subsequent-year pension expense. The compensation assumption is used to estimate the annual rate at which pay of plan participants will grow. If the rate of growth assumed increases, the size of the pension obligations will increase, as will the amount recorded in AOCI in our Statement of Financial Position and amortized into earnings in subsequent periods. 60 2024 FORM 10-K 60 2024 FORM 10-K 60 2024 FORM 10-K The expected return on plan assets is the estimated long-term rate of return that will be earned on the investments used to fund the benefit obligations. To determine the expected long-term rate of return on pension plan assets, we consider our asset allocation as well as historical and expected returns on various categories of plan assets. In developing future long-term return expectations for our principal benefit plans’ assets, we formulate views on the future economic environment, both in the U.S. and abroad. We evaluate general market trends and historical relationships among a number of key variables that impact asset class returns such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. We also take into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given our asset allocation. Based on our analysis, we have assumed a 7.00% long-term expected return on the GE Aerospace Pension Plan assets for cost recognition in 2024 and 2023. For 2025 cost recognition, based on GE Aerospace Pension Plan assets at December 31, 2024, we have assumed a 7.00% long-term expected return. The healthcare trend assumptions primarily apply to our pre-65 retiree medical plans. Most participants in our post-65 retiree plan have a fixed subsidy and therefore are not subject to healthcare inflation. We evaluate these critical assumptions at least annually on a plan and country-specific basis. We periodically evaluate other assumptions involving demographics factors such as retirement age and turnover, and update them to reflect our actual experience and expectations for the future. Actual results in any given year will often differ from actuarial assumptions because of economic and other factors. Differences between our actual results and what we assumed are recorded in AOCI each period. These differences are amortized into earnings over the remaining average future service of active participating employees or the expected life of inactive participants, as applicable. For the principal pension plans, gains and losses are amortized using a straight-line method with a separate layer for each year’s gains and losses. For most other pension plans and principal retiree benefit plans, gains and losses are amortized using a straight-line or a corridor amortization method. SENSITIVITIES TO KEY ASSUMPTIONS. Fluctuations in discount rates can significantly impact pension cost and obligations. We would expect that a 25 basis point decrease in discount rate would increase our GE Aerospace principal pension plan cost in the following year by approximately $50 million and would also expect an increase in the GE Aerospace principal pension plan projected benefit obligation at year-end by approximately $550 million. The deficit sensitivity to the discount rate would be lower than the projected benefit obligation sensitivity as a result of the liability hedging program incorporated in the asset allocation. A 25 basis point decrease in the expected return on assets would increase GE Aerospace principal pension plan cost in the following year by approximately $50 million. THE COMPOSITION OF OUR PLAN ASSETS. The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. 20242023Principal pension Other pension Principal pension Other pension Global equities$1,142 $217 $1,985 $1,152 Debt securitiesFixed income and cash investment funds1,412 1,463 1,764 4,188 U.S. corporate(a)3,091 34 6,599 145 Other debt securities(b)3,106 46 6,064 218 Real estate535 6 775 18 Private equities and other investments299 118 600 259 Total9,585 1,884 17,787 5,980 Plan assets measured at net asset valueGlobal equities$1,695 $217 $3,169 $612 Debt securities1,158 693 1,907 2,224 Real estate715 280 1,067 1,074 Private equities and other investments5,867 518 5,814 874 Total plan assets at fair value19,020 3,592 29,744 10,764 Less: discontinued operations— — 9,491 6,851 Total plan assets - continuing operations$19,020 $3,592 $20,253 $3,913 (a)Primarily represented investment-grade bonds of U.S. issuers from diverse industries. (b)Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and U.S. government, federal agency, state and municipal debt. 2024 FORM 10-K 61 2024 FORM 10-K 61 2024 FORM 10-K 61 Plan assets that were measured at fair value using NAV as a practical expedient were excluded from the fair value hierarchy. Principal Pension Plans' investments with a fair value of $844 million and $1,203 million at December 31, 2024 and 2023, respectively, were classified within Level 3 and primarily relate to private equities and real estate. The remaining investments were substantially all considered Level 1 and 2. Investments with a fair value of $2,288 million and $4,034 million at December 31, 2024 and 2023, respectively, were classified within Level 1 and primarily relate to global equities and cash. Investments with a fair value of $6,235 million and $12,703 million at December 31, 2024 and 2023, respectively, were classified within Level 2 and primarily relate to debt securities. Other pension plans investments with a fair value of $9 million and $26 million at December 31, 2024 and 2023, respectively, were classified within Level 3 and primarily relate to private equities and real estate. The remaining investments were substantially all considered Level 1 and 2. Investments with a fair value of $28 million and $786 million at December 31, 2024 and 2023, respectively, were classified within Level 1 and primarily relate to global equities and cash. Investments with a fair value of $1,713 million and $4,913 million at December 31, 2024 and 2023, respectively, were classified within Level 2 and primarily relate to debt securities. Principal retiree benefit plan investments have a fair value of $6 million and $8 million at December 31, 2024 and 2023, respectively. There were no Level 3 principal retiree benefit plan investments held in 2024 and 2023. ASSET ALLOCATION OF PENSION PLANS2024 Target allocation2024 Actual allocationPrincipal PensionOther Pension (weighted average)Principal PensionOther Pension (weighted average)Global equities10.0 - 30.0%10 %15 %12 %Debt securities (including cash equivalents)19.0 - 87.569 46 62 Real estate1.0 - 10.07 7 8 Private equities & other investments12.0 - 40.014 32 18 10.0 - 30.0 19.0 - 87.5 1.0 - 10.0 12.0 - 40.0 Plan fiduciaries set investment policies and strategies for the principal pension plans and oversee their investment allocation, which includes selecting investment managers and setting long-term strategic targets. The plan fiduciaries' primary strategic investment objectives are balancing investment risk and return and monitoring the plan’s liquidity position in order to meet near-term benefit payment and other cash needs. The plan has incorporated de-risking objectives and liability hedging programs as part of its long-term investment strategy and utilizes a combination of long-dated corporate bonds, treasuries, strips and derivatives to implement its investment strategies as well as for hedging asset and liability risks. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range. GE Aerospace and GE securities represented 0.8% and 0.5% of the Principal Pension Plans' assets at December 31, 2024 and 2023, respectively. ANNUALIZED RETURNS(a)1 year5 years10 years25 yearsGE Aerospace Pension Plan2.3 %2.2 %4.3 %4.7 % (a) Prior to 2023, the annualized returns represent the GE Pension Plan's returns. EXPECTED FUTURE BENEFIT PAYMENTS OF OUR BENEFIT PLANS(a)Principal pensionOther pensionPrincipal retiree benefit2025$1,800 $175 $130 20261,815 175 125 20271,825 180 120 20281,830 190 120 20291,830 195 120 2030-20348,960 1,045 510 (a) As of the measurement date of December 31, 2024. DEFINED CONTRIBUTION PLAN. We have a defined contribution plan for eligible U.S. employees that provides employer contributions which were $265 million, $342 million and $444 million for the years ended December 31, 2024, 2023 and 2022, respectively. Employer contributions for continuing operations were $230 million, $213 million and $207 million for the years ended December 31, 2024, 2023 and 2022, respectively. 62 2024 FORM 10-K 62 2024 FORM 10-K 62 2024 FORM 10-K COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOMEFor the years ended December 31202420232022(Pre-tax)Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Cost (income) of postretirement benefit plans$(741)$(21)$(101)$(1,108)$(118)$(144)$575 $(396)$(203)Changes in other comprehensive loss (income)Prior service cost (credit) - current year— — — 49 — — — — — Net loss (gain) - current year (a)262 (52)(15)1,588 721 (5)(1,533)(128)(778)Reclassifications out of AOCICurtailment/settlement gain (loss)— — — — 6 — — 6 — Dispositions185 (761)715 1,989 (792)1,216 — — — Amortization of net gain (loss)468 (41)82 723 (20)124 (1,422)(101)115 Amortization of prior service credit (cost)(6)1 103 (5)4 148 (5)8 235 Total changes in other comprehensive loss (income)909 (853)885 4,344 (81)1,483 (2,960)(215)(428)Cost (income) of postretirement benefit plans and changes in other comprehensive loss (income)$168 $(874)$784 $3,236 $(199)$1,339 $(2,385)$(611)$(631) (a) Primarily due to impact of discount rates and investment performance.

PENSION BENEFITS AND RETIREE HEALTH AND LIFE BENEFITS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Smaller pension plans with pension assets or obligations that have not reached $50 million and other retiree benefit plans are not presented. Effective January 1, 2023, certain postretirement benefit plans and liabilites were legally split or allocated between GE HealthCare, GE Energy and GE Aerospace. GE Aerospace and GE Energy plans and liabilities remain with GE until the planned GE Vernova spin-off. In connection with the Separation, net postretirement benefit plan liabilities of approximately $4.2 billion, including a portion of the principal pension plans, other pension plans and the principal retiree benefit plans, and other compensation and benefits obligations of approximately $0.7 billion, were transferred to GE HealthCare and are now reported in discontinued operations. See Note 2 for further information. Assumptions used in calculations, estimates of future benefits payments and funding, and other forward looking statements are for continuing operations unless otherwise noted. DESCRIPTION OF OUR PLANSPlan CategoryParticipantsFundingCommentsPrincipal Pension PlansGE Energy Pension Plan and GE Aerospace Pension PlanCovers U.S. participants ~115,400 retirees and beneficiaries, ~47,500 vested former employees and ~15,700 active employeesOur funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws. We may decide to contribute additional amounts beyond this level.Closed to new participants since 2012. Benefits for employees with salaried benefits were frozen effective January 1, 2021, and thereafter these employees receive increased company contributions in the company sponsored defined contribution plan in lieu of participation in a defined benefit plan (announced October 2019).GE Energy Supplementary Pension Plan and GE Aerospace Supplementary Pension PlanProvides supplementary benefits to higher-level, longer-service U.S. employeesUnfunded. We pay benefits on a pay-as-you-go basis from company cash.The annuity benefit has been closed to new participants since 2011 and has been replaced by an installment benefit (which was closed to new executives after 2020). Benefits for employees who became executives before 2011 were frozen effective January 1, 2021, and thereafter these employees accrue the installment benefit.Other Pension Plans(a)34 U.S. and non-U.S. pension plans with pension assets or obligations that have reached $50 millionCovers ~42,600 retirees and beneficiaries, ~28,300 vested former employees and ~7,700 active employeesOur funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws in each country. We may decide to contribute additional amounts beyond this level. We pay benefits for some plans from company cash. In certain countries, benefit accruals have ceased and/or have been closed to new hires as of various dates.Principal Retiree Benefit PlansProvides health and life insurance benefits to certain eligible participantsCovers U.S. participants ~89,300 retirees and dependents and ~15,000 active employeesWe fund retiree benefit plans on a pay-as-you-go basis and the retiree benefit insurance trust at our discretion.Participants share in the cost of the healthcare benefits. Covers U.S. participants ~115,400 retirees and beneficiaries, ~47,500 vested former employees and ~15,700 active employees Other Pension Plans(a) 34 U.S. and non-U.S. pension plans with pension assets or obligations that have reached $50 million Covers ~42,600 retirees and beneficiaries, ~28,300 vested former employees and ~7,700 active employees Covers U.S. participants ~89,300 retirees and dependents and ~15,000 active employees (a) Plans for GE Energy, including Power and Renewable Energy (will be part of GE Vernova) and GE Aerospace that reach $50 million are not removed from the presentation unless part of a disposition or plan termination. 2023 FORM 10-K 61 2023 FORM 10-K 61 2023 FORM 10-K 61 FUNDING STATUS BY PLAN TYPEBenefit ObligationFair Value of AssetsDeficit/(Surplus)202320222023202220232022Principal Pension Plans:GE Pension Plan (subject to regulatory funding)$— $48,134 $— $44,993 $— $3,141 GE Supplementary Pension Plan (not subject to regulatory funding)— 5,457 — — — 5,457 GE Energy Pension Plan and GE Aerospace Pension Plan (subject to regulatory funding)32,676 — 29,744 — 2,932 — GE Energy Supplementary Pension Plan and GE Aerospace Supplementary Pension Plan (not subject to regulatory funding)3,541 — — — 3,541 — 36,217 53,591 29,744 44,993 6,473 8,598 Other Pension Plans:Subject to regulatory funding9,174 12,078 10,601 14,512 (1,427)(2,434)Not subject to regulatory funding1,203 1,838 163 151 1,040 1,687 Principal retiree benefit (not subject to regulatory funding)2,055 3,304 8 10 2,047 3,294 Total plans subject to regulatory funding41,850 60,212 40,345 59,505 1,505 707 Total plans not subject to regulatory funding6,799 10,599 171 161 6,628 10,438 Total plans 48,649 70,811 40,516 59,666 8,133 11,145 Less: discontinued operations— 23,513 — 19,291 — 4,222 Total plans - continuing operations$48,649 $47,298 $40,516 $40,375 $8,133 $6,923 Effective January 1, 2023, certain postretirement benefit plans and liabilities were legally split or allocated. The HealthCare plans were transferred to GE HealthCare in connection with the Separation. The GE Aerospace and GE Energy plans remain with GE until the planned GE Vernova spin-off. Below is the funding status of the plans at December 31, 2023. FUNDING STATUS BY PLAN TYPE at December 31, 2023Benefit ObligationFair Value of AssetsDeficit/(Surplus)Power and Renewable Energy: GE Energy Pension Plan$10,239 $9,491 $748 GE Energy Supplementary Pension Plan541 — 541 Other pension plans6,712 6,851 (139) Principal retiree benefit plans766 — 766 18,258 16,342 1,916 Aerospace: GE Aerospace Pension Plan22,437 20,253 2,184 GE Aerospace Supplementary Pension Plan3,000 — 3,000 Other pension plans3,665 3,913 (248) Principal retiree benefit plans1,289 8 1,281 30,391 24,174 6,217 Total plans$48,649 $40,516 $8,133 FUNDING. The Employee Retirement Income Security Act (ERISA) determines minimum funding requirements in the U.S. No contributions were required or made for the GE Energy Pension Plan or GE Aerospace Pension Plan during 2023 and based on our current assumptions, we do not anticipate having to make additional required contributions in the near future. On an ERISA basis, our estimate is that the GE Energy Pension Plan and GE Aerospace Pension Plan was 87% and 93% funded, respectively. The GAAP funded status for GE Energy Pension Plan and GE Aerospace Pension Plan is 93% and 90%, respectively. We expect to pay approximately $235 million for benefit payments in total under our GE Energy Supplementary Pension Plan and GE Aerospace Supplementary Pension Plan and administrative expenses of our remaining principal pension plans and expect to contribute approximately $100 million to other remaining pension plans in 2024. We fund retiree benefit plans on a pay-as-you-go basis and the retiree benefit insurance trust at our discretion. We expect to contribute approximately $210 million in 2024 to fund such benefits. ACTIONS. Pension benefits for United Kingdom (UK) participants have been frozen effective January 1, 2022. In addition, pension benefits for Canadian participants have been frozen effective December 31, 2023. These transactions were reflected as a curtailment loss in 2021 upon announcement. 2023 FORM 10-K 62 2023 FORM 10-K 62 2023 FORM 10-K 62 COST OF OUR BENEFITS PLANS202320222021AND ASSUMPTIONSPrincipal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Components of expense (income)Service cost - operating$94 $37 $17 $221 $86 $39 $237 $233 $44 Interest cost1,892 422 111 2,069 398 108 1,951 383 103 Expected return on plan assets(2,376)(587)— (3,142)(967)— (3,049)(1,194)— Amortization of net loss (gain)(723)20 (124)1,422 101 (115)3,483 403 (79)Amortization of prior service cost (credit)5 (4)(148)5 (8)(235)28 (3)(236)Curtailment / settlement loss (gain)— (6)— — (6)— — 76 — Non-operating$(1,202)$(155)$(161)$354 $(482)$(242)$2,413 $(335)$(212)Net periodic expense (income)$(1,108)$(118)$(144)$575 $(396)$(203)$2,650 $(102)$(168)Less: discontinued operations— — — 199 (109)(80)885 (8)(61)Continuing operations - net periodic expense (income)$(1,108)$(118)$(144)— $376 $(287)$(123)— $1,765 $(94)$(107)Weighted-average benefit obligations assumptionsDiscount rate5.18 %3.93 %5.09 %5.53 %4.59 %5.43 %2.94 %1.93 %2.64 %Compensation increases3.86 2.24 3.25 3.07 2.44 3.12 3.05 2.35 2.63 Initial healthcare trend rate(a)N/AN/A6.50 N/AN/A6.40 N/AN/A5.70 Weighted-average benefit cost assumptionsDiscount rate5.53 4.59 5.43 2.94 1.93 2.64 2.61 1.44 2.15 Expected rate of return on plan assets7.00 5.66 —6.00 4.80 — 6.25 5.69 1.25 (a) For 2023, ultimately declining to 5% for 2030 and thereafter. Net periodic benefit income in 2024 is estimated to be $1,235 million, which is a decrease of approximately $135 million in income from 2023 from continuing operations. The decrease is primarily due to the impact of the discount rates and investment performance offset by interest cost. The components of net periodic benefit costs, other than the service cost component, are included in Non-operating benefit cost (income) in our Statement of Earnings (Loss). 2023 FORM 10-K 63 2023 FORM 10-K 63 2023 FORM 10-K 63 PLAN FUNDED STATUS AND AMOUNTS RECORDED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (INCOME)20232022Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Change in benefit obligationsBalance at January 1$53,591 $13,916 $3,304 $72,299 $22,256 $4,308 Service cost94 37 17 221 86 39 Interest cost1,892 422 111 2,069 398 108 Participant contributions10 19 31 14 19 54 Plan amendments49 — — — — — Actuarial loss (gain) - net1,081 (a)526 (a)(5)(17,281)(a)(6,282)(a)(778)(a)Benefits paid(2,503)(618)(254)(3,731)(920)(438) Dispositions/acquisitions/other - net(17,997)(4,387)(1,149)— — 11 Exchange rate adjustments— 462 — — (1,641)— Balance at December 31$36,217 (b)$10,377 $2,055 (c)$53,591 (b)$13,916 $3,304 (c)Change in plan assetsBalance at January 1$44,993 $14,663 $10 $60,990 $22,490 $42 Actual gain (loss) on plan assets1,869 442 — (12,605)(5,334)— Employer contributions212 161 221 325 209 352 Participant contributions10 19 31 14 19 54 Benefits paid(2,503)(618)(254)(3,731)(920)(438)Dispositions/acquisitions/other - net(14,837)(4,439)— — — — Exchange rate adjustments— 536 — — (1,801)— Balance at December 31$29,744 $10,764 $8 $44,993 $14,663 $10 Funded status - surplus (deficit)$(6,473)$387 $(2,047)$(8,598)$747 $(3,294)Amounts recorded inStatement of Financial PositionContinuing operations:Non-current assets - other$— $1,489 $— $— $1,747 $— Current liabilities - other(224)(54)(205)(214)(55)(222)Non-current liabilities - compensation and benefits(d)(6,249)(1,048)(1,842)(5,243)(1,013)(1,923)Discontinued operations:Non-current assets— — — — 844 — Current and non-current liabilities— — — (3,141)(776)(1,149)Net amount recorded$(6,473)$387 $(2,047)$(8,598)$747 $(3,294)Amounts recorded in Accumulated other comprehensive loss (income)Prior service cost (credit)$(25)$(16)$(909)$(113)$(42)$(1,677)Net loss (gain)(1,454)1,680(990)(5,710)1,787 (1,705)Total recorded in Accumulated other comprehensive loss (income)$(1,479)$1,664 $(1,899)$(5,823)$1,745 $(3,382) (a)Primarily due to impact of discount rates. (b)The benefit obligation for the GE Energy Supplementary Pension Plan and GE Aerospace Supplementary Pension Plan, which are unfunded plans, was $3,541 million at December 31, 2023 and the GE Supplementary Pension Plan was $5,457 million at December 31, 2022. (c)The benefit obligation for retiree health plans from continuing operations was $1,208 million at December 31, 2023. The benefit obligation for retiree health plans was $1,991 million at December 31, 2022. (d)Includes $37 million and $35 million of liabilities held for sale related to our Steam business as disclosed in Note 2 as of December 31, 2023 and 2022, respectively. ASSUMPTIONS USED IN CALCULATIONS. Our defined benefit pension plans are accounted for on an actuarial basis, which requires the selection of various assumptions, including a discount rate, a compensation assumption, an expected return on assets, mortality rates of participants and expectation of mortality improvement. Projected benefit obligations are measured as the present value of expected benefit payments. We discount those cash payments using a discount rate. We determine the discount rate using the weighted-average yields on high-quality fixed-income securities with maturities that correspond to the payment of benefits. Lower discount rates increase present values and generally increase subsequent-year pension expense; higher discount rates decrease present values and generally reduce subsequent-year pension expense. 2023 FORM 10-K 64 2023 FORM 10-K 64 2023 FORM 10-K 64 The compensation assumption is used to estimate the annual rate at which pay of plan participants will grow. If the rate of growth assumed increases, the size of the pension obligations will increase, as will the amount recorded in AOCI in our Statement of Financial Position and amortized into earnings in subsequent periods. The expected return on plan assets is the estimated long-term rate of return that will be earned on the investments used to fund the benefit obligations. To determine the expected long-term rate of return on pension plan assets, we consider our asset allocation, as well as historical and expected returns on various categories of plan assets. In developing future long-term return expectations for our principal benefit plans’ assets, we formulate views on the future economic environment, both in the U.S. and abroad. We evaluate general market trends and historical relationships among a number of key variables that impact asset class returns such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. We also take into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given our asset allocation. Based on our analysis, we have assumed a 7.00% long-term expected return on the GE Energy Pension Plan and GE Aerospace Pension Plan assets for cost recognition in 2023 and 6.00% for the GE Pension Plan in 2022. For 2024 cost recognition, based on GE Energy Pension Plan and GE Aerospace Pension Plan assets at December 31, 2023, we have assumed a 7.00% long-term expected return. The healthcare trend assumptions primarily apply to our pre-65 retiree medical plans. Most participants in our post-65 retiree plan have a fixed subsidy and therefore are not subject to healthcare inflation. We evaluate these critical assumptions at least annually on a plan and country-specific basis. We periodically evaluate other assumptions involving demographics factors such as retirement age and turnover, and update them to reflect our actual experience and expectations for the future. Actual results in any given year will often differ from actuarial assumptions because of economic and other factors. Differences between our actual results and what we assumed are recorded in AOCI each period. These differences are amortized into earnings over the remaining average future service of active participating employees or the expected life of inactive participants, as applicable. For the principal pension plans, gains and losses are amortized using a straight-line method with a separate layer for each year’s gains and losses. For most other pension plans and principal retiree benefit plans, gains and losses are amortized using a straight-line or a corridor amortization method. SENSITIVITIES TO KEY ASSUMPTIONS. Fluctuations in discount rates can significantly impact pension cost and obligations. We would expect that a 25 basis point decrease in discount rate would increase our principal pension plan cost for the following year by approximately $85 million and would also expect an increase in the principal pension plan projected benefit obligation at year-end by approximately $905 million. The deficit sensitivity to the discount rate would be lower than the projected benefit obligation sensitivity as a result of the liability hedging program incorporated in the asset allocation. A 50 basis point decrease in the expected return on assets would increase principal pension plan cost in the following year by approximately $165 million. THE COMPOSITION OF OUR PLAN ASSETS. The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. December 3120232022Principal pension Other pension Principal pension Other pension Global equities$1,985 $1,152 $3,918 $1,097 Debt securitiesFixed income and cash investment funds1,764 4,188 4,918 6,506 U.S. corporate(a)6,599 145 8,715 382 Other debt securities(b)6,064 218 7,853 443 Real estate775 18 1,486 53 Private equities and other investments600 259 1,245 364 Total17,787 5,980 28,135 8,845 Plan assets measured at net asset valueGlobal equities$3,169 $612 $3,285 $1,029 Debt securities1,907 2,224 3,469 1,024 Real estate1,067 1,074 1,624 1,976 Private equities and other investments5,814 874 8,480 1,789 Total plan assets at fair value29,744 10,764 44,993 14,663 Less: discontinued operations— — 14,860 4,431 Total plan assets - continuing operations$29,744 $10,764 $30,133 $10,232 (a)Primarily represented investment-grade bonds of U.S. issuers from diverse industries. (b)Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and U.S. government, federal agency, state and municipal debt. 2023 FORM 10-K 65 2023 FORM 10-K 65 2023 FORM 10-K 65 Plan assets that were measured at fair value using NAV as a practical expedient were excluded from the fair value hierarchy. Principal Pension Plans' investments with a fair value of $1,203 million and $2,255 million at December 31, 2023 and 2022, respectively, were classified within Level 3 and primarily relate to private equities and real estate. The remaining investments were substantially all considered Level 1 and 2. Investments with a fair value of $4,034 million and $6,759 million at December 31, 2023 and 2022, respectively, were classified within Level 1 and primarily relate to global equities and cash. Investments with a fair value of $12,703 million and $18,606 million at December 31, 2023 and 2022, respectively, were classified within Level 2 and primarily relate to debt securities. Other pension plans investments with a fair value of $26 million and $81 million at December 31, 2023 and 2022, respectively, were classified within Level 3 and primarily relate to private equities and real estate. The remaining investments were substantially all considered Level 1 and 2. Investments with a fair value of $786 million and $841 million at December 31, 2023 and 2022, respectively, were classified within Level 1 and primarily relate to global equities and cash. Investments with a fair value of $4,913 million and $7,580 million at December 31, 2023 and 2022, respectively, were classified within Level 2 and primarily relate to debt securities. Principal retiree benefit plan investments have a fair value of $8 million and $10 million at December 31, 2023 and 2022, respectively. There were no Level 3 principal retiree benefit plan investments held in 2023 and 2022. ASSET ALLOCATION OF PENSION PLANS2023 Target allocation2023 Actual allocationPrincipal PensionOther Pension (weighted average)Principal PensionOther Pension (weighted average)Global equities10.0 - 30.0%16 %17 %17 %Debt securities (including cash equivalents)31.0 - 81.560 55 62 Real estate1.0 - 10.08 6 10 Private equities & other investments6.0 - 34.016 22 11 10.0 - 30.0 31.0 - 81.5 1.0 - 10.0 6.0 - 34.0 Plan fiduciaries set investment policies and strategies for the principal pension plans and oversee their investment allocation, which includes selecting investment managers and setting long-term strategic targets. The plan fiduciaries' primary strategic investment objectives are balancing investment risk and return and monitoring the plan’s liquidity position in order to meet near-term benefit payment and other cash needs. The plan has incorporated de-risking objectives and liability hedging programs as part of its long-term investment strategy and utilizes a combination of long-dated corporate bonds, treasuries, strips and derivatives to implement its investment strategies as well as for hedging asset and liability risks. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range. GE securities represented 0.5% and 0.7% of the Principal Pension Plans' assets at December 31, 2023 and 2022, respectively. ANNUALIZED RETURNS(a)1 year5 years10 years25 yearsGE Aerospace Pension Plan6.5 %5.2 %4.6 %5.3 %GE Energy Pension Plan6.6 %5.2 %4.6 %5.3 % (a) Prior to 2023, the annualized returns represent the GE Pension Plan's returns. EXPECTED FUTURE BENEFIT PAYMENTS OF OUR BENEFIT PLANS(a)Principal pensionOther pensionPrincipal retiree benefit2024$2,570 $570 $220 20252,590 560 210 20262,605 560 205 20272,615 580 200 20282,615 590 195 2029-203312,885 3,065 845 (a) As of the measurement date of December 31, 2023. DEFINED CONTRIBUTION AND DEFERRED COMPENSATION PLANS. We have a defined contribution plan for eligible U.S. employees that provides employer contributions which were $342 million, $444 million and $418 million for the years ended December 31, 2023, 2022, and 2021, respectively. Employer contributions for continuing operations were $342 million, $322 million, and $299 million for the years ended December 31, 2023, 2022, and 2021, respectively. We also have deferred incentive compensation plans and deferred salary plans for eligible employees. Liabilities associated with these plans were $916 million and $913 million as of December 31, 2023 and December 31, 2022, respectively. Expenses associated with these plans from continuing operations was $63 million, $46 million, and $43 million for the years ended December 2023, 2022, and 2021, respectively. 2023 FORM 10-K 66 2023 FORM 10-K 66 2023 FORM 10-K 66 COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOMEFor the years ended December 31202320222021(Pre-tax)Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Cost (income) of postretirement benefit plans$(1,108)$(118)$(144)$575 $(396)$(203)$2,650 $(102)$(168)Changes in other comprehensive loss (income)Prior service cost (credit) - current year49 — — — — — — (1)— Net loss (gain) - current year(a)1,588 721 (5)(1,533)(128)(778)(4,959)(2,104)(488)Reclassifications out of AOCICurtailment/settlement gain (loss)— 6 — — 6 — — (68)— Dispositions/acquisitions/other - net1,989 (792)1,216 — — — — (68)— Amortization of net gain (loss)723 (20)124 (1,422)(101)115 (3,483)(403)79 Amortization of prior service credit (cost)(5)4 148 (5)8 235 (28)3 236 Total changes in other comprehensive loss (income)4,344 (81)1,483 (2,960)(215)(428)(8,470)(2,641)(173)Cost (income) of postretirement benefit plans and changes in other comprehensive loss (income)$3,236 $(199)$1,339 $(2,385)$(611)$(631)$(5,820)$(2,743)$(341) (a) Primarily due to impact of discount rates and investment performance.

AOCI before reclasses – net of taxes of $5, $74 and $144 Reclasses from AOCI – net of taxes of $103, $(626) and $—(a) AOCI before reclasses – net of taxes of $22, $(497) and $597 Reclasses from AOCI – net of taxes of $(269), $(778), and $216(a) AOCI before reclasses – net of taxes of $(271), $248 and $(1,861) Reclasses from AOCI – net of taxes of $4, $(7) and $(20) AOCI before reclasses – net of taxes of $607, $(630) and $2,160

AOCI before reclasses – net of taxes of $74, $144 and $(90) Reclasses from AOCI – net of taxes of $(626), $0 and $87(a) AOCI before reclasses – net of taxes of $(497), $597 and $1,643 Reclasses from AOCI – net of taxes of $(778), $216 and $793(a) AOCI before reclasses – net of taxes of $248, $(1,861) and $(386) Reclasses from AOCI – net of taxes of $(7), $(20) and $23(a) AOCI before reclasses – net of taxes of $(630), $2,160 and $691

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

COMMITMENTS. As of December 31, 2024, we had total investment commitments of $3,670 million, of which $3,539 million are related to investments by our run-off insurance operations in investment securities and other assets. Included within these commitments are obligations to make investments in unconsolidated VIEs of $3,439 million. We also have unfunded commitments, primarily for U.S. tax equity, of $631 million. Additionally, we have committed to provide financing assistance of $2,657 million for future customer acquisitions of aircraft equipped with our engines. We believe there is a low probability of utilization of this financing assistance based on the terms under which the financing would be provided. See Note 23 for further information regarding VIEs. GUARANTEES. Credit support and indemnification agreements - Continuing Operations. Following the separation of GE Vernova, we have remaining performance and bank guarantees on behalf of GE Vernova. To support GE Vernova in selling products and services globally, we often entered into contracts on behalf of GE Vernova or issued parent company guarantees or trade finance instruments supporting the performance of what were subsidiary legal entities transacting directly with customers, in addition to providing similar credit support for non-customer related activities of GE Vernova (collectively, "GE Aerospace credit support"). Under the Separation and Distribution Agreement (SDA), GE Vernova is obligated to use reasonable best efforts to replace us as the guarantor on or terminate all such credit support instruments. Until such termination or replacement, in the event of non-fulfillment of contractual obligations by the relevant obligor(s), we could be obligated to make payments under the applicable instruments. Under the SDA, GE Vernova is obligated to reimburse and indemnify us for any such payments. Beginning in 2025, GE Vernova will pay us a quarterly fee based on amounts related to the GE Aerospace credit support. We have recorded a reserve of $115 million for our stand ready to perform obligation. Our maximum aggregate exposure under the GE Aerospace credit support cannot be reasonably estimated given the breadth of the portfolio across each of the GE Vernova businesses except for certain financial guarantees and trade finance instruments with a maximum exposure of approximately $366 million. The underlying obligations are predominantly customer contracts that GE Vernova performs in the normal course of its business. We have no known instances historically where payments or performance were required by us under parent company guarantees relating to GE Vernova customer contracts. In connection with the spin-off of GE Vernova, under terms of the SDA, Transition Service Agreement (TSA) and Tax Matters Agreement (TMA), we have an obligation to indemnify GE Vernova for certain of its severance costs, environmental matters and tax matters of $177 million, of which $129 million is reserved. We also have remaining obligations under the TMA with GE HealthCare to indemnify them for certain tax costs and other indemnifications of $55 million, which are fully reserved. In addition, we have $187 million of other indemnification commitments, including representations and warranties in sales of business assets, for which we recorded a liability of $53 million. Credit support and indemnification agreements- Discontinued Operations. Following the separation of GE Vernova, we also have performance obligations related to GE Vernova nuclear decommissioning with a maximum aggregate exposure of $738 million for which we are fully indemnified. Also, under the SDA, TSA and TMA agreements we have obligations to indemnify GE Vernova for costs of certain environmental matters and tax matters of $33 million, which are fully reserved. GE Aerospace also has obligations under the TSA and TMA to indemnify GE HealthCare for certain technology and tax costs of $49 million, which are fully reserved. We also have provided specific indemnities to other buyers of assets of our business that, in the aggregate, represent a maximum potential claim of $446 million with related reserves of $52 million. PRODUCT WARRANTIES. We provide for estimated product warranty expenses when we sell the related products. Because warranty estimates are forecasts that are based on the best available information, mostly historical claims experience, claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties follows. 202420232022Balance at January 1$639 $528 $517 Current-year provisions275 277 180 Expenditures(321)(167)(162)Other changes(1)— (6)Balance at December 31$592 $639 $528 72 2024 FORM 10-K 72 2024 FORM 10-K 72 2024 FORM 10-K LEGAL MATTERS. In the normal course of our business, we are involved from time to time in various arbitrations, class actions, commercial litigation, investigations and other legal, regulatory or governmental actions, including the significant matters described below that could have a material impact on our results of operations. In many proceedings, including the specific matters described below, it is inherently difficult to determine whether any loss is probable or even reasonably possible or to estimate the size or range of the possible loss, and accruals for legal matters are not recorded until a loss for a particular matter is considered probable and reasonably estimable. Given the nature of legal matters and the complexities involved, it is often difficult to predict and determine a meaningful estimate of loss or range of loss until we know, among other factors, the particular claims involved, the likelihood of success of our defenses to those claims, the damages or other relief sought, how discovery or other procedural considerations will affect the outcome, the settlement posture of other parties and other factors that may have a material effect on the outcome. For these matters, unless otherwise specified, we do not believe it is possible to provide a meaningful estimate of loss at this time. Moreover, it is not uncommon for legal matters to be resolved over many years, during which time relevant developments and new information must be continuously evaluated. Shareholder and related lawsuits. Since November 2017, several putative shareholder class actions under the federal securities laws were filed against GE and certain affiliated individuals and consolidated into a single action currently pending in the U.S. District Court for the Southern District of New York (the Hachem case, also referred to as the Sjunde AP-Fonden case). The complaint against defendants GE and current and former GE executive officers alleged violations of Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934 related to insurance reserves and accounting for long-term service agreements and seeks damages on behalf of shareholders who acquired GE stock between February 27, 2013 and January 23, 2018. GE filed a motion to dismiss in December 2019. In January 2021, the court granted the motion to dismiss as to the majority of the claims. Specifically, the court dismissed all claims related to insurance reserves, as well as all claims related to accounting for long-term service agreements, with the exception of certain claims about historic disclosures related to factoring in the Power business that survive as to GE and its former CFO Jeffrey S. Bornstein. All other individual defendants have been dismissed from the case. In April 2022, the court granted the plaintiffs' motion for class certification for shareholders who acquired stock between February 26, 2016 and January 23, 2018. In September 2022, GE filed a motion for summary judgment on the plaintiffs' remaining claims, which the court denied in September 2023, except as to claims arising from disclosures made between November 2017 and January 2018. In April 2024, the court scheduled a trial date for November 2024. Consistent with the settlement in principle that we reported in October 2024, we signed an agreement with the plaintiffs in December 2024 to settle the matter for $362.5 million, which we have deposited into an escrow account controlled by plaintiffs’ counsel. Final settlement of the matter is subject to court approval, and the court granted preliminary approval of the settlement in January 2025. Since February 2018, multiple shareholder derivative lawsuits were filed against current and former GE executive officers and members of GE’s Board of Directors and GE (as nominal defendant). These lawsuits have alleged violations of securities laws, breaches of fiduciary duties, unjust enrichment, waste of corporate assets, abuse of control and gross mismanagement, although the specific matters underlying the allegations in the lawsuits have varied. Two shareholder derivative lawsuits are currently pending: the Lindsey and Priest/Tola cases, which were filed in New York state court. The allegations in these two cases relate to substantially the same facts as those underlying the Sjunde AP-Fonden case. The plaintiffs seek unspecified damages and improvements in GE’s corporate governance and internal procedures. The Lindsey case has been stayed by agreement of the parties, and GE filed a motion to dismiss the Priest/Tola complaint in March 2021. In August 2024, the plaintiffs in the Priest/Tola case filed an amended consolidated complaint asserting substantially the same claims as in the prior derivative actions, and the Company filed a motion to dismiss this amended complaint in October 2024. In July 2018, a putative class action (the Mahar case) was filed in New York state court naming as defendants GE, former GE executive officers, a former member of GE’s Board of Directors and KPMG. It alleged violations of Sections 11, 12 and 15 of the Securities Act of 1933 based on alleged misstatements related to insurance reserves and performance of GE’s business segments in GE Stock Direct Plan registration statements and documents incorporated therein by reference and seeks damages on behalf of shareholders who acquired GE stock between July 20, 2015 and July 19, 2018 through the GE Stock Direct Plan. In February 2019, this case was dismissed. In April 2019, GE filed a motion to dismiss. In October 2019, the court denied GE's motion to dismiss and stayed the case pending the outcome of the Sjunde AP-Fonden case. In November 2019, the plaintiffs moved to re-argue to challenge the stay, and GE cross-moved to re-argue the denial of the motion to dismiss and filed a notice of appeal. The court denied both motions for re-argument, and in November 2020, the Appellate Division First Department affirmed the court's denial of GE's motion to dismiss. In January 2021, GE filed a motion for leave to appeal to the New York Court of Appeals, and that motion was denied in March 2021. Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. For a number of years, we have observed an increase in the total number of lawsuits being brought against Bank BPH and other banks in Poland by current and former borrowers, and we expect this to continue in future reporting periods. As previously reported, GE and Bank BPH approved the adoption of a settlement program and recorded an additional charge of $1,014 million in the quarter ended June 30, 2023. The estimate of total losses for borrower litigation at Bank BPH was $2,461 million and $2,669 million as of December 31, 2024 and 2023, respectively. 2024 FORM 10-K 73 2024 FORM 10-K 73 2024 FORM 10-K 73 This estimate accounts for the costs associated with borrowers who we estimate will participate in the settlement program, as well as estimates for the results of litigation with other borrowers, which in either case can exceed the value of the current loan balance, and represents our best estimate of the total losses we expect to incur over time informed by experience since adopting the program. However, there are a number of factors that could affect the estimate in the future, including: future judicial decisions or binding resolutions by the European Court of Justice (ECJ) or the Polish Supreme Court that could increase the cost to banks of loans invalidated by Polish courts and encourage more borrower lawsuits; the impact of any such decisions or resolutions on how Polish courts will interpret and apply the law in particular cases; the receptivity of borrowers over time to Bank BPH’s settlement program; the number of active and inactive borrowers who sue Bank BPH; the ability of Bank BPH to recover from borrowers the original principal amount of loans invalidated by Polish courts; and the impact of potential future legislation in Poland to expedite the court process for borrowers or otherwise relating to foreign currency indexed or denominated mortgage loans. While we are unable at this time to develop a meaningful estimate of reasonably possible losses beyond the amount currently recorded, future changes related to any of the foregoing or in Bank BPH’s settlement approach, or other adverse developments such as actions by regulators, legislators or other governmental authorities (including consumer protection regulators), could increase our estimate of total losses and potentially require future cash contributions to Bank BPH. See Note 2 for further information. ENVIRONMENTAL, HEALTH AND SAFETY MATTERS. Our operations involve or have involved the use, disposal and cleanup of substances regulated under environmental protection laws, including activities for a variety of matters related to GE businesses that have been discontinued or exited. We record reserves for obligations for ongoing and future environmental remediation activities, such as the Housatonic River cleanup, and for additional liabilities we expect to incur in connection with previously remediated sites, such as natural resource damages for the Hudson River where GE completed dredging in 2019. Additionally, like many other industrial companies, we and our subsidiaries are defendants in various lawsuits related to alleged exposure by workers and others to asbestos or other hazardous materials. Liabilities for environmental remediation and worker exposure claims exclude possible insurance recoveries. It is reasonably possible that our exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual sites and lawsuits, such amounts are not reasonably estimable. Total reserves related to environmental remediation and worker exposure claims were $2,003 million and $1,819 million at December 31, 2024 and 2023, respectively. Expenditures for site remediation and worker exposure claims amounted to approximately $175 million, $246 million and $195 million for the years ended December 31, 2024, 2023 and 2022, respectively. We presently expect that such expenditures will be approximately $225 million and $225 million in 2025 and 2026, respectively.

COMMITMENTS. We had total investment commitments of $3,809 million and unfunded lending commitments, primarily at EFS, of $651 million at December 31, 2023. The investment commitments primarily comprise investments by our run-off insurance operations in investment securities and other assets of $3,662 million and included within these commitments are obligations to make investments in unconsolidated VIEs of $3,545 million. See Note 23 for further information. As of December 31, 2023, in our Aerospace segment, we have committed to provide financing assistance of $2,676 million of future customer acquisitions of aircraft equipped with our engines. GUARANTEES. Credit support. We have provided $916 million of credit support on behalf of certain customers or associated companies, predominantly joint ventures and partnerships, using arrangements such as standby letters of credit and performance guarantees. The liability for such credit support was $21 million. Indemnification agreements – Continuing Operations. GE has obligations under the Tax Matters Agreement to indemnify GE HealthCare for certain tax costs and other indemnifications of $41 million, which are fully reserved. In addition, we have $289 million of other indemnification commitments, including representations and warranties in sales of business assets, for which we recorded a liability of $70 million. Indemnification agreements - Discontinued Operations. Following the Separation of GE HealthCare on January 3, 2023, GE has remaining performance and bank guarantees on behalf of its former HealthCare business, with a maximum aggregate exposure of $44 million. GE also has obligations under the Transition Services Agreement and Tax Matters Agreement to indemnify GE HealthCare for certain technology and tax costs of $81 million, which are fully reserved. In addition, we have provided specific indemnities to other buyers of assets of our business that, in the aggregate, represent a maximum potential claim of $721 million with related reserves of $71 million. PRODUCT WARRANTIES. We provide for estimated product warranty expenses when we sell the related products. Because warranty estimates are forecasts that are based on the best available information, mostly historical claims experience, claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties follows. 202320222021Balance at January 1$1,960 $1,730 $1,897 Current-year provisions(a)961 1,081 635 Expenditures(886)(768)(724)Other changes18 (83)(78)Balance at December 31$2,053 $1,960 $1,730 a) The increase in current and prior-year provisions is primarily related to Renewable Energy which, in 2022, was substantially all due to changes in estimates on pre-existing warranties and related to the deployment of repairs and other corrective measures. LEGAL MATTERS. In the normal course of our business, we are involved from time to time in various arbitrations, class actions, commercial litigation, investigations and other legal, regulatory or governmental actions, including the significant matters described below that could have a material impact on our results of operations. In many proceedings, including the specific matters described below, it is inherently difficult to determine whether any loss is probable or even reasonably possible or to estimate the size or range of the possible loss, and accruals for legal matters are not recorded until a loss for a particular matter is considered probable and reasonably estimable. Given the nature of legal matters and the complexities involved, it is often difficult to predict and determine a meaningful estimate of loss or range of loss until we know, among other factors, the particular claims involved, the likelihood of success of our defenses to those claims, the damages or other relief sought, how discovery or other procedural considerations will affect the outcome, the settlement posture of other parties and other factors that may have a material effect on the outcome. For these matters, unless otherwise specified, we do not believe it is possible to provide a meaningful estimate of loss at this time. Moreover, it is not uncommon for legal matters to be resolved over many years, during which time relevant developments and new information must be continuously evaluated. 2023 FORM 10-K 76 2023 FORM 10-K 76 2023 FORM 10-K 76 Alstom legacy legal matters. In 2015, we acquired the Steam Power, Renewables and Grid businesses from Alstom, which prior to our acquisition were the subject of significant cases involving anti-competitive activities and improper payments. We had reserves of $393 million and $455 million at December 31, 2023 and 2022, respectively, for legal and compliance matters related to the legacy business practices that were the subject of cases in various jurisdictions. Allegations in these cases relate to claimed anti-competitive conduct or improper payments in the pre-acquisition period as the source of legal violations or damages. Given the significant litigation and compliance activity related to these matters and our ongoing efforts to resolve them, it is difficult to assess whether the disbursements will ultimately be consistent with the reserve established. The estimation of this reserve may not reflect the full range of uncertainties and unpredictable outcomes inherent in litigation and investigations of this nature, and at this time we are unable to develop a meaningful estimate of the range of reasonably possible additional losses beyond the amount of this reserve. Factors that can affect the ultimate amount of losses associated with these and related matters include the way cooperation is assessed and valued, prosecutorial discretion in the determination of damages, formulas for determining disgorgement, fines or penalties, the duration and amount of legal and investigative resources applied, political and social influences within each jurisdiction, and tax consequences of any settlements or previous deductions, among other considerations. Actual losses arising from claims in these and related matters could exceed the amount provided. Shareholder and related lawsuits. Since November 2017, several putative shareholder class actions under the federal securities laws were filed against GE and certain affiliated individuals and consolidated into a single action currently pending in the U.S. District Court for the Southern District of New York (the Hachem case, also referred to as the Sjunde AP-Fonden case). The complaint against defendants GE and current and former GE executive officers alleged violations of Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934 related to insurance reserves and accounting for long-term service agreements and seeks damages on behalf of shareholders who acquired GE stock between February 27, 2013 and January 23, 2018. GE filed a motion to dismiss in December 2019. In January 2021, the court granted the motion to dismiss as to the majority of the claims. Specifically, the court dismissed all claims related to insurance reserves, as well as all claims related to accounting for long-term service agreements, with the exception of certain claims about historic disclosures related to factoring in the Power business that survive as to GE and its former CFO Jeffrey S. Bornstein. All other individual defendants have been dismissed from the case. In April 2022, the court granted the plaintiffs' motion for class certification for shareholders who acquired stock between February 26, 2016 and January 23, 2018. In September 2022, GE filed a motion for summary judgment on the plaintiffs' remaining claims. In September 2023, the court denied GE’s motion for summary judgment, except as to claims arising from disclosures made between November 2017 and January 2018. Since February 2018, multiple shareholder derivative lawsuits were filed against current and former GE executive officers and members of GE’s Board of Directors and GE (as nominal defendant). These lawsuits have alleged violations of securities laws, breaches of fiduciary duties, unjust enrichment, waste of corporate assets, abuse of control and gross mismanagement, although the specific matters underlying the allegations in the lawsuits have varied. Two shareholder derivative lawsuits are currently pending: the Lindsey and Priest/Tola cases, which were filed in New York state court. The allegations in these two cases relate to substantially the same facts as those underlying the Sjunde AP-Fonden case. The plaintiffs seek unspecified damages and improvements in GE’s corporate governance and internal procedures. The Lindsey case has been stayed by agreement of the parties, and GE filed a motion to dismiss the Priest/Tola complaint in March 2021. In July 2018, a putative class action (the Mahar case) was filed in New York state court naming as defendants GE, former GE executive officers, a former member of GE’s Board of Directors and KPMG. It alleged violations of Sections 11, 12 and 15 of the Securities Act of 1933 based on alleged misstatements related to insurance reserves and performance of GE’s business segments in GE Stock Direct Plan registration statements and documents incorporated therein by reference and seeks damages on behalf of shareholders who acquired GE stock between July 20, 2015 and July 19, 2018 through the GE Stock Direct Plan. In February 2019, this case was dismissed. In April 2019, GE filed a motion to dismiss. In October 2019, the court denied GE's motion to dismiss and stayed the case pending the outcome of the Sjunde AP-Fonden case. In November 2019, the plaintiffs moved to re-argue to challenge the stay, and GE cross-moved to re-argue the denial of the motion to dismiss and filed a notice of appeal. The court denied both motions for re-argument, and in November 2020, the Appellate Division First Department affirmed the court's denial of GE's motion to dismiss. In January 2021, GE filed a motion for leave to appeal to the New York Court of Appeals, and that motion was denied in March 2021. GE Retirement Savings Plan class actions. In 2017, four putative class action lawsuits were filed regarding the oversight of the GE RSP, and those class actions were consolidated into a single action in the U.S. District Court for the District of Massachusetts. The consolidated complaint named as defendants GE, GE Asset Management, current and former GE and GE Asset Management executive officers and employees who served on fiduciary bodies responsible for aspects of the GE RSP during the class period. Like similar lawsuits that were brought against other companies in recent years, this action alleged that the defendants breached their fiduciary duties under the Employee Retirement Income Security Act (ERISA) in their oversight of the GE RSP, principally by retaining five proprietary funds that plaintiffs alleged were underperforming as investment options for plan participants and by charging higher management fees than some alternative funds. The plaintiffs sought unspecified damages on behalf of a class of GE RSP participants and beneficiaries from September 26, 2011 through the date of any judgment. In August and December 2018, the court issued orders dismissing one count of the complaint and denying GE's motion to dismiss the remaining counts. In September 2022, both GE and the plaintiffs filed motions for summary judgment on the remaining claims. In September 2023, GE executed a class action settlement with plaintiffs in the amount of $61 million, which the court preliminarily approved in October 2023 with a hearing on final approval scheduled for March 2024. Net of insurance contributions, this had an immaterial financial impact that GE recognized in its results for the quarter ended September 30, 2023. 2023 FORM 10-K 77 2023 FORM 10-K 77 2023 FORM 10-K 77 Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. For a number of years, GE has observed an increase in the total number of lawsuits being brought against Bank BPH and other banks in Poland by current and former borrowers, and we expect this to continue in future reporting periods. As previously reported, GE and Bank BPH approved the adoption of a settlement program and recorded an additional charge of $1,014 million in the quarter ended June 30, 2023. The estimate of total losses for borrower litigation at Bank BPH as of December 31, 2023 was $2,669 million. The estimate of total losses for borrower litigation at Bank BPH as of December 31, 2023 accounts for the costs of payments to borrowers who we estimate will participate in the settlement program, as well as estimates for the results of litigation with other borrowers, which in either case can exceed the value of the current loan balance. This estimate represents our best estimate of the total losses we expect to incur over time. However, there are a number of factors that could affect the estimate in the future, including: potentially significant judicial decisions or binding resolutions by the European Court of Justice (ECJ) or the Polish Supreme Court, including a ruling by the ECJ in June 2023 that could significantly increase the cost to banks of loans invalidated by Polish courts and encourage more borrower lawsuits; the impact of any such decisions or resolutions on how Polish courts will interpret and apply the law in particular cases; the receptivity of borrowers over time to Bank BPH’s settlement program; the number of active and inactive borrowers who sue Bank BPH; the ability of Bank BPH to recover from borrowers the original principal amount of loans invalidated by Polish courts; and the impact of potential future legislation in Poland relating to foreign currency indexed or denominated mortgage loans. While we are unable at this time to develop a meaningful estimate of reasonably possible losses beyond the amount currently recorded, future changes related to any of the foregoing or in Bank BPH’s settlement approach, or other adverse developments such as actions by regulators, legislators or other governmental authorities (including consumer protection regulators), could increase our estimate of total losses and potentially require future cash contributions to Bank BPH. See Note 2 for further information. ENVIRONMENTAL, HEALTH AND SAFETY MATTERS. Our operations, like operations of other companies engaged in similar businesses, involve the use, disposal and cleanup of substances regulated under environmental protection laws and nuclear decommissioning regulations. We record reserves for obligations for ongoing and future environmental remediation activities, such as the Housatonic River cleanup described below, and for additional liabilities we expect to incur in connection with previously remediated sites, such as natural resource damages for the Hudson River where GE completed dredging in 2019. Additionally, like many other industrial companies, we and our subsidiaries are defendants in various lawsuits related to alleged exposure by workers and others to asbestos or other hazardous materials. Liabilities for environmental remediation, nuclear decommissioning and worker exposure claims exclude possible insurance recoveries. It is reasonably possible that our exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual sites and lawsuits, such amounts are not reasonably estimable. Total reserves related to environmental remediation, nuclear decommissioning and worker exposure claims were $2,465 million and $2,415 million at December 31, 2023 and 2022, respectively. In 2000, GE and the Environmental Protection Agency (EPA) entered into a consent decree relating to PCB cleanup of the Housatonic River in Massachusetts. In October 2016, the EPA issued its final decision pursuant to the consent decree, which GE and several other interested parties appealed to the EPA’s Environmental Appeals Board (EAB). The EAB issued its decision in January 2018, affirming parts of the EPA’s decision and granting relief to GE on certain significant elements of its challenge. The EAB remanded the decision back to the EPA to address those elements and reissue a revised final remedy, and the EPA convened a mediation process with GE and interested stakeholders. In February 2020, the EPA announced an agreement between the EPA and many of the mediation stakeholders, including GE, concerning a revised Housatonic River remedy. In March 2021, two local environmental advocacy groups filed a joint petition to the EAB challenging portions of the revised permit; in February 2022, the EAB denied the petition, and the permit became effective in March 2022. In May 2022, the two environmental advocacy groups petitioned the U.S. Court of Appeals for the First Circuit to review the EPA’s final permit. The Court's denial of this petition in July 2023 was not appealed, concluding these proceedings on the EPA’s remedy. As of December 31, 2023, and based on its assessment of current facts and circumstances, GE believes that it has recorded adequate reserves to cover future obligations associated with the EPA's final remedy. Expenditures for site remediation, nuclear decommissioning and worker exposure claims amounted to approximately $260 million, $220 million and $181 million for the years ended December 31, 2023, 2022 and 2021, respectively. We presently expect that such expenditures will be approximately $200 million in both 2024 and 2025.

(a)Includes reclassifications from AOCI related to the separations of GE Vernova and GE HealthCare. In the second quarter of 2024, reclassifications of $1,590 million, net of taxes, included currency translation of $2,174 million and benefit plans of $(584) million, related to GE Vernova. In the first quarter of 2023, reclassifications of $195 million, net of taxes, included currency translation of $2,234 million and benefit plans of $(2,030) million, related to GE HealthCare. Preferred stock. In September 2023, we redeemed the remaining $5,795 million of outstanding GE preferred stock. We redeemed $144 million of GE preferred stock in the year ended December 31, 2022. Dividends on GE preferred stock totaled $237 million and $289 million, including cash dividends of $236 million and $284 million, for the years ended December 31, 2023 and 2022, respectively. 66 2024 FORM 10-K 66 2024 FORM 10-K 66 2024 FORM 10-K Common stock. GE Aerospace's authorized common consists of 1,650 million shares having a par value of $0.01 each, with 1,462 million shares issued. Common stock shares outstanding were 1,073,692,183 and 1,088,415,995 at December 31, 2024 and December 31, 2023, respectively. We repurchased 32.0, 11.0 and 13.6 million shares for a total of $5,414 million, $1,135 million and $1,000 million for the years ended December 31, 2024, 2023 and 2022, respectively. This included repurchases of 12.5 million shares for $2,170 million using accelerated stock repurchases in 2024, which were utilized as a mechanism to achieve planned repurchase volumes within a quarter during closed windows. The Company's share repurchase program does not obligate it to acquire any specific number of shares. Under this program, shares may be purchased in the open market, in privately negotiated transactions, under accelerated share repurchase programs or under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended. NOTE 17. SHARE-BASED COMPENSATION. We grant stock options, restricted stock units and performance share units to employees under the 2022 Long-Term Incentive Plan. Grants made under all plans must be approved by the Management Development and Compensation Committee of GE Aerospace’s Board of Directors, which is composed entirely of independent directors. We record compensation expense for awards expected to vest over the vesting period. We estimate forfeitures based on experience and adjust expense to reflect actual forfeitures. When options are exercised, restricted stock units vest and performance share awards are earned, we issue shares from treasury stock. We grant stock options, restricted stock units and performance share units to employees under the 2022 Long-Term Incentive Plan. Grants made under all plans must be approved by the Management Development and Compensation Committee of GE Aerospace’s Board of Directors, which is composed entirely of independent directors. We record compensation expense for awards expected to vest over the vesting period. We estimate forfeitures based on experience and adjust expense to reflect actual forfeitures. When options are exercised, restricted stock units vest and performance share awards are earned, we issue shares from treasury stock. Stock options provide employees the opportunity to purchase GE Aerospace shares in the future at the market price of our stock on the date the award is granted (the strike price). The options become exercisable over the vesting period, typically three years, and expire 10 years from the grant date if not exercised. Restricted stock units (RSU) provide an employee with the right to receive one share of GE Aerospace stock when the restrictions lapse over the vesting period. Upon vesting, each RSU is converted into one share of GE Aerospace common stock for each unit. Performance stock units (PSU) and performance shares provide an employee with the right to receive shares of GE Aerospace stock based upon achievement of certain performance or market metrics. Upon vesting, each PSU earned is converted into shares of GE Aerospace common stock. We value stock options using a Black-Scholes option pricing model, RSUs using market price on grant date, and PSUs and performance shares using market price on grant date and a Monte Carlo simulation as needed based on performance metrics. In connection with the separation of GE Aerospace and GE Vernova, outstanding awards held by participants under the 2007 and 2022 Long-Term Incentive Plans were equitably converted into shares of GE Aerospace or GE Vernova Inc. awards as required, to preserve the intrinsic value of the awards prior to the separation. Adjustments to the stock-based compensation awards resulted in incremental compensation expense of $39 million. WEIGHTED AVERAGE GRANT DATE FAIR VALUE202420232022Stock options$65.16 $36.10 $34.03 RSUs160.70 89.60 87.68 PSUs150.05 89.44 95.40 Key assumptions used in the Black-Scholes valuation for stock options include: risk free rates of 4.6%, 4.2%, and 1.6%, dividend yields of 0.7%, 0.4%, and 0.4%, expected volatility of 36%, 36%, and 37%, expected lives of 6.1 years, 6.8 years, and 6.8 years, and strike prices of $160.51, $88.15, and $92.33 for 2024, 2023 and 2022, respectively. STOCK-BASED COMPENSATION ACTIVITYStock optionsRSUsShares (in thousands)Weighted average exercise priceWeighted average contractual term (in years)Intrinsic value (in millions)Shares (in thousands)Weighted average grant date fair valueWeighted average contractual term (in years)Intrinsic value (in millions)Outstanding at January 1, 202422,573 $122.35 8,103 $76.52 Spin-off adjustment(a)1,941 N/A(2,224)N/AGranted995 160.51 1,503 160.70 Exercised(13,401)111.31 (3,452)67.89 Forfeited(125)98.68 (324)91.53 Expired(1,066)152.97 N/AN/AOutstanding at December 31, 202410,917 $91.78 3.6$819 3,607 $103.70 1.6$602 Exercisable at December 31, 20249,829 $85.52 3.0$799 N/AN/AN/AN/AExpected to vest887 $146.70 9.2$18 3,199 $100.77 1.5$534 (a) The spin-off adjustment represents the net of shares converted into new GE Aerospace awards and shares converted and transferred to GE Vernova Inc. as a result of the April 2, 2024 separation of GE Vernova. Total outstanding target PSUs at December 31, 2024 were 1,104 thousand shares with a weighted average fair value of $129.79. The intrinsic value and weighted average contractual term of target PSUs outstanding were $184 million and 2.1 years, respectively. 2024 FORM 10-K 67 2024 FORM 10-K 67 2024 FORM 10-K 67 202420232022Compensation expense (after-tax)(a)$286 $192 $143 Cash received from stock options exercised1,492 565 62 Intrinsic value of stock options exercised and RSU/PSU/Performance shares vested1,754 561 170 (a)Unrecognized compensation cost related to unvested equity awards as of December 31, 2024 was $365 million, which will be amortized over a weighted average period of 1.2 years. Income tax benefit recognized in earnings on stock-based compensation was $152 million, $29 million and $(3) million in 2024, 2023 and 2022, respectively.

(a)The total reclassification from AOCI included $195 million, including currency translation of $2,234 million and benefit plans of $(2,030) million, net of taxes, in first quarter of 2023 related to the spin-off of GE HealthCare. 2023 FORM 10-K 70 2023 FORM 10-K 70 2023 FORM 10-K 70 Preferred stock. On September 15, 2023 we redeemed the remaining outstanding shares of GE preferred stock. We redeemed $5,795 million and $144 million of GE preferred stock in the years ended December 31, 2023 and 2022, respectively. Dividends on GE preferred stock totaled $237 million, including cash dividends of $236 million, $289 million, including cash dividends of $284 million, and $237 million, including cash dividends of $220 million, for the years ended December 31, 2023, 2022 and 2021, respectively. Common stock. GE's authorized common stock consists of 1,650 million shares having a par value of $0.01 each, with 1,462 million shares issued. Common stock shares outstanding were 1,088,415,995 and 1,089,107,878 at December 31, 2023 and 2022, respectively. We repurchased 11.0 million, 13.6 million and 0.5 million shares, for a total of $1,135 million, $1,000 million and $36 million for the years ended December 31, 2023, 2022 and 2021, respectively. NOTE 17. SHARE-BASED COMPENSATION. We grant stock options, restricted stock units and performance share units to employees under the 2007 and 2022 Long-Term Incentive Plans. Grants made under all plans must be approved by the Management Development and Compensation Committee of GE’s Board of Directors, which is composed entirely of independent directors. We record compensation expense for awards expected to vest over the vesting period. We estimate forfeitures based on experience and adjust expense to reflect actual forfeitures. When options are exercised, restricted stock units vest, and performance share awards are earned, we issue shares from treasury stock. Stock options provide employees the opportunity to purchase GE shares in the future at the market price of our stock on the date the award is granted (the strike price). The options become exercisable over the vesting period, typically three years, and expire 10 years from the grant date if not exercised. Restricted stock units (RSU) provide an employee with the right to receive one share of GE stock when the restrictions lapse over the vesting period. Upon vesting, each RSU is converted into one share of GE common stock for each unit. Performance share units (PSU) and performance shares provide an employee with the right to receive shares of GE stock based upon achievement of certain performance or market metrics. Upon vesting, each PSU earned is converted into shares of GE common stock. We value stock options using a Black-Scholes option pricing model, RSUs using market price on grant date, and PSUs and performance shares using market price on grant date and a Monte Carlo simulation as needed based on performance metrics. In connection with the separation of GE HealthCare, outstanding awards held by participants under the 2007 and 2022 Long-Term Incentive Plans were equitably converted into shares of GE and/or GE HealthCare Technologies Inc. awards as required, to preserve the intrinsic value of the awards prior to the separation. Adjustments to the stock-based compensation awards did not result in incremental compensation expense. WEIGHTED AVERAGE GRANT DATE FAIR VALUE202320222021Stock options$36.10 $34.03 $40.64 RSUs89.60 87.68 104.98 PSUs/Performance shares89.44 95.40 108.51 Key assumptions used in the Black-Scholes valuation for stock options include: risk free rates of 4.2%, 1.6%, and 1.1%, dividend yields of 0.4%, 0.4%, and 0.3%, expected volatility of 36%, 37%, and 40%, expected lives of 6.8 years, 6.8 years, and 6.2 years, and strike prices of $88.15, $92.33, and $105.12 for 2023, 2022, and 2021, respectively. STOCK-BASED COMPENSATION ACTIVITYStock optionsRSUsShares (in thousands)Weighted average exercise priceWeighted average contractual term (in years)Intrinsic value (in millions)Shares (in thousands)Weighted average grant date fair valueWeighted average contractual term (in years)Intrinsic value (in millions)Outstanding at January 1, 202331,023 $142.68 9,687 $79.82 Spin-off adjustment(a)3,704 N/A(784)N/AGranted358 88.15 3,203 89.60 Exercised(7,275)77.64 (3,480)67.96 Forfeited(21)64.46 (523)69.73 Expired(5,216)152.04 N/AN/AOutstanding at December 31, 202322,573 $122.35 3.0$544 8,103 $76.52 1.1$1,034 Exercisable at December 31, 202321,389 $124.83 2.8$484 N/AN/AN/AN/AExpected to vest1,098 $77.50 7.7$55 7,313 $76.09 1.0$933 (a) The spin-off adjustment represents the net of shares converted into new GE awards and shares converted and transferred to GE HealthCare Technologies Inc. as a result of the January 3, 2023 separation of GE HealthCare. Total outstanding target PSUs and performance shares at December 31, 2023 were 2,315 thousand shares with a weighted average fair value of $68.58. The intrinsic value and weighted average contractual term of target PSUs and performance shares outstanding were $295 million and 1.3 years, respectively. 2023 FORM 10-K 71 2023 FORM 10-K 71 2023 FORM 10-K 71 202320222021Compensation expense (after-tax)(a)$299 $251 $305 Cash received from stock options exercised565 62 93 Intrinsic value of stock options exercised and RSU/PSUs vested561 170 217 (a) Unrecognized compensation cost related to unvested equity awards as of December 31, 2023 was $318 million, which will be amortized over a weighted average period of 1.0 year. Income tax benefit recognized in earnings was $61 million, $12 million and an insignificant amount in 2023, 2022, and 2021, respectively.

Exhibit(2)(a) Separation and Distribution Agreement, dated November 7, 2022 by and between General Electric Company and GE HealthCare Technologies Inc. (f/k/a GE Healthcare Holding LLC), as amended (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K dated January 4, 2023).(2)(b) Separation and Distribution Agreement, dated April 1, 2024 by and between General Electric Company and GE Vernova Inc. (f/k/a GE Vernova LLC), as amended (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated April 2, 2024). (2)(a) Separation and Distribution Agreement, dated November 7, 2022 by and between General Electric Company and GE HealthCare Technologies Inc. (f/k/a GE Healthcare Holding LLC), as amended (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K dated January 4, 2023). (2)(b) Separation and Distribution Agreement, dated April 1, 2024 by and between General Electric Company and GE Vernova Inc. (f/k/a GE Vernova LLC), as amended (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated April 2, 2024). 78 2024 FORM 10-K 78 2024 FORM 10-K 78 2024 FORM 10-K 3(i) The Restated Certificate of Incorporation of General Electric Company (incorporated by reference to Exhibit 3(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013), as amended by the Certificate of Amendment, dated December 2, 2015 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated December 3, 2015), as further amended by the Certificate of Amendment, dated January 19, 2016 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated January 20, 2016), as further amended by the Certificate of Change of General Electric Company (incorporated by reference to Exhibit 3(1) to the Company’s Current Report on Form 8-K, dated September 1, 2016), as further amended by the Certificate of Amendment, dated May 13, 2019 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated May 13, 2019), as further amended by the Certificate of Change of General Electric Company (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated December 9, 2019), as further amended by the Certificate of Amendment, dated July 30, 2021 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, dated July 30, 2021), as further amended by the Certificate of Change of General Electric Company, dated May 15, 2023 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, dated May 17, 2023), as further amended by the Certificate of Change of General Electric Company, dated April 1, 2024 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K dated April 2, 2024).3(ii) The By-Laws of General Electric Company, as amended on April 1, 2024 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K dated April 2, 2024). 4(a) Amended and Restated General Electric Capital Corporation Standard Global Multiple Series Indenture Provisions dated as of February 27, 1997 (incorporated by reference to Exhibit 4(a) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707).4(b) Third Amended and Restated Indenture dated as of February 27, 1997, between General Electric Capital Corporation and The Bank of New York Mellon, as successor trustee (incorporated by reference to Exhibit 4(c) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707).4(c) First Supplemental Indenture dated as of May 3, 1999, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(dd) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3, File No. 333-76479).4(d) Second Supplemental Indenture dated as of July 2, 2001, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(f) to General Electric Capital Corporation’s Post-Effective Amendment No.1 to Registration Statement on Form S-3, File No. 333-40880).4(e) Third Supplemental Indenture dated as of November 22, 2002, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(cc) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3, File No. 333‑100527).4(f) Fourth Supplemental Indenture dated as of August 24, 2007, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(g) to General Electric Capital Corporation’s Registration Statement on Form S-3, File number 333-156929).4(g) Senior Note Indenture, dated October 9, 2012, by and between the Company and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4.1 of the Company’s Current Report on Form 8-K dated October 9, 2012).4(h) Indenture dated as of October 26, 2015, among GE Capital International Funding Company, as issuer, General Electric Company and General Electric Capital Corporation, as guarantors and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 99 to the Company’s Current Report on Form 8-K dated October 26, 2015).4(i) Global Supplemental Indenture dated as of April 10, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015).4(j) Second Global Supplemental Indenture dated as of December 2, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as successor trustee (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K dated December 3, 2015).4(k) Agreement to furnish to the Securities and Exchange Commission upon request a copy of instruments defining the rights of holders of certain long-term debt of the registrant and consolidated subsidiaries.*4(l) Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.*(10) Except for 10(oo), (pp), (qq), (rr) and (ss) below, all of the following exhibits consist of Executive Compensation Plans or Arrangements:(a) GE Aerospace Executive Life Insurance Plan, as amended and restated, effective January 1, 2025.*(b) GE Leadership Life Insurance Plan, effective January 1, 2020 and all amendments to date, including its most recent amendment January 3, 2023 (incorporated by reference to Exhibit 10(b) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022).(c) General Electric Directors’ Charitable Gift Plan, as amended through December 2002 (incorporated by reference to Exhibit 10(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002).(d) GE Aerospace Supplementary Pension Plan, as amended and restated, effective January 1, 2025.*(e) GE Aerospace Restoration Plan, as amended and restated, effective January 1, 2025.*(f) General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (incorporated by reference to Exhibit 10(g) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018).(g) Amendment, dated May 7, 2024, to General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024).(h) GE Aerospace 2024 Non-Employee Director Compensation Plan, effective May 7, 2024 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). 3(i) The Restated Certificate of Incorporation of General Electric Company (incorporated by reference to Exhibit 3(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013), as amended by the Certificate of Amendment, dated December 2, 2015 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated December 3, 2015), as further amended by the Certificate of Amendment, dated January 19, 2016 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated January 20, 2016), as further amended by the Certificate of Change of General Electric Company (incorporated by reference to Exhibit 3(1) to the Company’s Current Report on Form 8-K, dated September 1, 2016), as further amended by the Certificate of Amendment, dated May 13, 2019 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated May 13, 2019), as further amended by the Certificate of Change of General Electric Company (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, dated December 9, 2019), as further amended by the Certificate of Amendment, dated July 30, 2021 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, dated July 30, 2021), as further amended by the Certificate of Change of General Electric Company, dated May 15, 2023 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, dated May 17, 2023), as further amended by the Certificate of Change of General Electric Company, dated April 1, 2024 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K dated April 2, 2024). 3(ii) The By-Laws of General Electric Company, as amended on April 1, 2024 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K dated April 2, 2024). 4(a) Amended and Restated General Electric Capital Corporation Standard Global Multiple Series Indenture Provisions dated as of February 27, 1997 (incorporated by reference to Exhibit 4(a) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707). 4(b) Third Amended and Restated Indenture dated as of February 27, 1997, between General Electric Capital Corporation and The Bank of New York Mellon, as successor trustee (incorporated by reference to Exhibit 4(c) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707). 4(c) First Supplemental Indenture dated as of May 3, 1999, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(dd) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3, File No. 333-76479). 4(d) Second Supplemental Indenture dated as of July 2, 2001, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(f) to General Electric Capital Corporation’s Post-Effective Amendment No.1 to Registration Statement on Form S-3, File No. 333-40880). 4(e) Third Supplemental Indenture dated as of November 22, 2002, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(cc) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3, File No. 333‑100527). 4(f) Fourth Supplemental Indenture dated as of August 24, 2007, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (incorporated by reference to Exhibit 4(g) to General Electric Capital Corporation’s Registration Statement on Form S-3, File number 333-156929). 4(g) Senior Note Indenture, dated October 9, 2012, by and between the Company and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4.1 of the Company’s Current Report on Form 8-K dated October 9, 2012). 4(h) Indenture dated as of October 26, 2015, among GE Capital International Funding Company, as issuer, General Electric Company and General Electric Capital Corporation, as guarantors and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 99 to the Company’s Current Report on Form 8-K dated October 26, 2015). 4(i) Global Supplemental Indenture dated as of April 10, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015). 4(j) Second Global Supplemental Indenture dated as of December 2, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as successor trustee (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K dated December 3, 2015). 4(k) Agreement to furnish to the Securities and Exchange Commission upon request a copy of instruments defining the rights of holders of certain long-term debt of the registrant and consolidated subsidiaries.* 4(l) Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.* (10) Except for 10(oo), (pp), (qq), (rr) and (ss) below, all of the following exhibits consist of Executive Compensation Plans or Arrangements: (a) GE Aerospace Executive Life Insurance Plan, as amended and restated, effective January 1, 2025.* (b) GE Leadership Life Insurance Plan, effective January 1, 2020 and all amendments to date, including its most recent amendment January 3, 2023 (incorporated by reference to Exhibit 10(b) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022). (c) General Electric Directors’ Charitable Gift Plan, as amended through December 2002 (incorporated by reference to Exhibit 10(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002). (d) GE Aerospace Supplementary Pension Plan, as amended and restated, effective January 1, 2025.* (e) GE Aerospace Restoration Plan, as amended and restated, effective January 1, 2025.* (f) General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (incorporated by reference to Exhibit 10(g) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018). (g) Amendment, dated May 7, 2024, to General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). (h) GE Aerospace 2024 Non-Employee Director Compensation Plan, effective May 7, 2024 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). 2024 FORM 10-K 79 2024 FORM 10-K 79 2024 FORM 10-K 79 (i) Form of Director Indemnification Agreement (incorporated by reference to Exhibit 10(cc) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018).(j) Amendment to Nonqualified Deferred Compensation Plans, dated as of December 14, 2004 (incorporated by reference to Exhibit 10(w) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004).(k) GE Aerospace Retirement for the Good of the Company Program, as amended and restated, effective January 1, 2025.*(l) GE Aerospace US Executive Severance Plan, as amended and restated, effective January 1, 2025.*(m) GE Aerospace Excess Benefits Plan, as amended and restated, effective January 1, 2025.*(n) GE Aerospace 2006 Executive Deferred Salary Plan, as amended and restated, effective January 1, 2025.*(o) GE 2007 Long-Term Incentive Plan as amended and restated April 26, 2017, as further amended and restated February 15, 2019, and as further amended and restated July 30, 2021 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021).(p) Amendment, dated August 18, 2020, to the GE 2007 Long-Term Incentive Plan (as amended and restated April 26, 2017, and as further amended and restated February 15, 2019) (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020).(q) GE 2022 Long-Term Incentive Plan, as amended and restated, effective January 1, 2025.*(r) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024).(s) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023).(t) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022).(u) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021).(v) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2020 (incorporated by reference to Exhibit 10(r) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020).(w) Form of Agreement for Restricted Stock Unit Grants to Directors under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024).(x) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(e) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024).(y) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023).(z) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022).(aa) Form of Agreement for Leadership Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of September 2020 (incorporated by reference to Exhibit 10(t) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020).(bb) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(f) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024).(cc) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023).(dd) Form of Transaction Incentive Award (incorporated by reference to Exhibit 10(dd) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023).(ee) GE Aerospace Incentive Compensation Plan, as amended and restated, effective January 1, 2025.*(ff) GE Aerospace Annual Executive Incentive Plan, as amended and restated, effective January 1, 2025.*(gg) Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (incorporated by reference to Exhibit 10(z) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018).(hh) Amendment No. 1, effective August 18, 2020, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated August 20, 2020).(ii) Amendment No. 2, dated as of March 15, 2022, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, dated as of October 1, 2018 (incorporated by reference to Exhibit 10.1 to the Company’s Current on Form 8-K dated March 17, 2022). (i) Form of Director Indemnification Agreement (incorporated by reference to Exhibit 10(cc) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018). (j) Amendment to Nonqualified Deferred Compensation Plans, dated as of December 14, 2004 (incorporated by reference to Exhibit 10(w) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004). (k) GE Aerospace Retirement for the Good of the Company Program, as amended and restated, effective January 1, 2025.* (l) GE Aerospace US Executive Severance Plan, as amended and restated, effective January 1, 2025.* (m) GE Aerospace Excess Benefits Plan, as amended and restated, effective January 1, 2025.* (n) GE Aerospace 2006 Executive Deferred Salary Plan, as amended and restated, effective January 1, 2025.* (o) GE 2007 Long-Term Incentive Plan as amended and restated April 26, 2017, as further amended and restated February 15, 2019, and as further amended and restated July 30, 2021 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021). (p) Amendment, dated August 18, 2020, to the GE 2007 Long-Term Incentive Plan (as amended and restated April 26, 2017, and as further amended and restated February 15, 2019) (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020). (q) GE 2022 Long-Term Incentive Plan, as amended and restated, effective January 1, 2025.* (r) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). (s) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023). (t) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022). (u) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021). (v) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2020 (incorporated by reference to Exhibit 10(r) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020). (w) Form of Agreement for Restricted Stock Unit Grants to Directors under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). (x) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(e) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). (y) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023). (z) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022). (aa) Form of Agreement for Leadership Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of September 2020 (incorporated by reference to Exhibit 10(t) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020). (bb) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of May 2024 (incorporated by reference to Exhibit 10(f) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024). (cc) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023). (dd) Form of Transaction Incentive Award (incorporated by reference to Exhibit 10(dd) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023). (ee) GE Aerospace Incentive Compensation Plan, as amended and restated, effective January 1, 2025.* (ff) GE Aerospace Annual Executive Incentive Plan, as amended and restated, effective January 1, 2025.* (gg) Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (incorporated by reference to Exhibit 10(z) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018). (hh) Amendment No. 1, effective August 18, 2020, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated August 20, 2020). (ii) Amendment No. 2, dated as of March 15, 2022, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, dated as of October 1, 2018 (incorporated by reference to Exhibit 10.1 to the Company’s Current on Form 8-K dated March 17, 2022). 80 2024 FORM 10-K 80 2024 FORM 10-K 80 2024 FORM 10-K (jj) Employment Agreement between H. Lawrence Culp Jr. and General Electric Company, effective July 1, 2024 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated July 1, 2024).(kk) Performance Share Grant Agreement for H. Lawrence Culp, Jr., dated August 18, 2020 (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated August 20, 2020).(ll) Notice of Adjustment to the Performance Share Grant Agreement for H. Lawrence Culp, Jr., effective July 30, 2021 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021).(mm) Form of Performance Stock Unit Grant Agreement by and between H. Lawrence Culp, Jr. and General Electric Company, dated July 1, 2024 (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated July 1, 2024).(nn) Offer Letter Agreement for Rahul Ghai, dated October 5, 2023 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023).(oo) Amended and Restated Agreement, dated April 10, 2015, between General Electric Company and General Electric Capital Corporation (incorporated by reference to Exhibit 10 to the Company’s Current Report on Form 8-K dated April 10, 2015).(pp) Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K dated May 27, 2021 (Commission file number 001-00035)).(qq) Credit Agreement, dated as of March 26, 2024, by and among General Electric Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated April 2, 2024).(rr) Tax Matters Agreement, dated as of April 1, 2024, by and between General Electric Company and GE Vernova Inc. (f/k/a GE Vernova LLC) (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K dated April 2, 2024). (ss) Tax Matters Agreement, dated as of January 2, 2023, by and between GE and GE HealthCare Technologies Inc. (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated January 4, 2023).(11) Statement re Computation of Per Share Earnings.**(19) GE Aerospace Insider Trading and Stock Tipping Policy and Additional Procedures.*(21) Subsidiaries of Registrant.*(22) List of Subsidiary Guarantors and Issuers of Guaranteed Securities.*(23) Consent of Independent Registered Public Accounting Firm.*(24) Power of Attorney.*31(a) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.*31(b) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.*(32) Certification Pursuant to 18 U.S.C. Section 1350.*(97) General Electric Company Clawback Policy Pursuant to Rule 10D-1 under the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 97 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023).99(a) Supplement to Present Required Information in Searchable Format.*(101) The following materials from General Electric Company's Annual Report on Form 10-K for the year ended December 31, 2024, formatted as Inline XBRL (eXtensible Business Reporting Language); (i) Statement of Earnings (Loss) for the years ended December 31, 2024, 2023 and 2022, (ii) Statement of Financial Position at December 31, 2024 and 2023, (iii) Statement of Cash Flows for the years ended December 31, 2024, 2023 and 2022, (iv) Statement of Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022, (v) Statement of Changes in Shareholders' Equity for the years ended December 31, 2024, 2023 and 2022, and (vi) the Notes to Consolidated Financial Statements.*(104) Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * Filed electronically herewith** Information required to be presented in Exhibit 11 is provided in Note 18 to the consolidated financial statements in this Form 10-K Report in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification 260, Earnings Per Share. (jj) Employment Agreement between H. Lawrence Culp Jr. and General Electric Company, effective July 1, 2024 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated July 1, 2024). (kk) Performance Share Grant Agreement for H. Lawrence Culp, Jr., dated August 18, 2020 (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated August 20, 2020). (ll) Notice of Adjustment to the Performance Share Grant Agreement for H. Lawrence Culp, Jr., effective July 30, 2021 (incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021). (mm) Form of Performance Stock Unit Grant Agreement by and between H. Lawrence Culp, Jr. and General Electric Company, dated July 1, 2024 (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated July 1, 2024). (nn) Offer Letter Agreement for Rahul Ghai, dated October 5, 2023 (incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023). (oo) Amended and Restated Agreement, dated April 10, 2015, between General Electric Company and General Electric Capital Corporation (incorporated by reference to Exhibit 10 to the Company’s Current Report on Form 8-K dated April 10, 2015). (pp) Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K dated May 27, 2021 (Commission file number 001-00035)). (qq) Credit Agreement, dated as of March 26, 2024, by and among General Electric Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated April 2, 2024). (rr) Tax Matters Agreement, dated as of April 1, 2024, by and between General Electric Company and GE Vernova Inc. (f/k/a GE Vernova LLC) (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K dated April 2, 2024). (ss) Tax Matters Agreement, dated as of January 2, 2023, by and between GE and GE HealthCare Technologies Inc. (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated January 4, 2023). (11) Statement re Computation of Per Share Earnings.** (19) GE Aerospace Insider Trading and Stock Tipping Policy and Additional Procedures.* (19) GE Aerospace Insider Trading and Stock Tipping Policy and Additional Procedures.* (21) Subsidiaries of Registrant.* (22) List of Subsidiary Guarantors and Issuers of Guaranteed Securities.* (23) Consent of Independent Registered Public Accounting Firm.* (24) Power of Attorney.* 31(a) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.* 31(b) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.* (32) Certification Pursuant to 18 U.S.C. Section 1350.* (97) General Electric Company Clawback Policy Pursuant to Rule 10D-1 under the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 97 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023). 99(a) Supplement to Present Required Information in Searchable Format.* (101) The following materials from General Electric Company's Annual Report on Form 10-K for the year ended December 31, 2024, formatted as Inline XBRL (eXtensible Business Reporting Language); (i) Statement of Earnings (Loss) for the years ended December 31, 2024, 2023 and 2022, (ii) Statement of Financial Position at December 31, 2024 and 2023, (iii) Statement of Cash Flows for the years ended December 31, 2024, 2023 and 2022, (iv) Statement of Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022, (v) Statement of Changes in Shareholders' Equity for the years ended December 31, 2024, 2023 and 2022, and (vi) the Notes to Consolidated Financial Statements.* (104) Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * Filed electronically herewith ** Information required to be presented in Exhibit 11 is provided in Note 18 to the consolidated financial statements in this Form 10-K Report in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification 260, Earnings Per Share. 2024 FORM 10-K 81 2024 FORM 10-K 81 2024 FORM 10-K 81 FORM 10-K CROSS REFERENCE INDEXPage(s)Part IItem 1.Business4-7, 9-11, 74-75Item 1A.Risk Factors26-33Item 1B.Unresolved Staff CommentsNot applicableItem 1C.Cybersecurity25Item 2.Properties4Item 3.Legal Proceedings73-74Item 4.Mine Safety DisclosuresNot applicablePart IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities24Item 6.[Reserved]Not applicableItem 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations8-24Item 7A.Quantitative and Qualitative Disclosures About Market Risk14, 70-71Item 8.Financial Statements and Supplementary Data38-77Item 9.Changes in and Disagreements With Accountants on Accounting and Financial DisclosureNot applicableItem 9A.Controls and Procedures34Item 9B.Other Information78Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsNot applicablePart IIIItem 10.Directors, Executive Officers and Corporate Governance77-78, (a)Item 11.Executive Compensation(b)Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters(c)Item 13.Certain Relationships and Related Transactions, and Director Independence(d)Item 14.Principal Accountant Fees and Services(e)Part IVItem 15.Exhibits and Financial Statement Schedules78-81Item 16.Form 10-K SummaryNot applicableSignatures83 (a)Incorporated by reference to "Governance" and “Other Executive Compensation Policies & Practices” in the 2025 Proxy Statement. (b)Incorporated by reference to "Compensation Discussion & Analysis", “Other Executive Compensation Policies & Practices” and "Management Development & Compensation Committee Report" in the 2025 Proxy Statement. (c)Incorporated by reference to “Stock Ownership Information” and "Equity Compensation Plan Information" in the 2025 Proxy Statement. (d)Incorporated by reference to “Related Person Transactions” and “How We Assess Director Independence” in the 2025 Proxy Statement. (e)Incorporated by reference to “Independent Auditor” in the 2025 Proxy Statement for Deloitte and Touche LLP (PCAOB ID No. 34) . 82 2024 FORM 10-K 82 2024 FORM 10-K 82 2024 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, 2024, 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 3rd day of February 2025. General Electric Company (Registrant) By/s/ Robert GigliettiRobert GigliettiVice 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. SignerTitleDate/s/ Rahul GhaiPrincipal Financial OfficerFebruary 3, 2025Rahul GhaiSenior Vice President and Chief Financial Officer /s/ Robert GigliettiPrincipal Accounting OfficerFebruary 3, 2025Robert GigliettiVice President, Chief Accounting Officer, Controller and Treasurer/s/ H. Lawrence Culp, Jr.Principal Executive OfficerFebruary 3, 2025H. Lawrence Culp, Jr.*Chairman of the Board of DirectorsStephen Angel*DirectorSébastien M. Bazin*DirectorMargaret Billson*DirectorThomas Enders*DirectorEdward P. Garden*DirectorIsabella Goren*DirectorThomas W. Horton*DirectorCatherine A. Lesjak*DirectorDarren McDew*DirectorA majority of the Board of Directors*By/s/ Brandon SmithBrandon Smith Attorney-in-fact February 3, 2025 /s/ Rahul Ghai Rahul Ghai Senior Vice President and Chief Financial Officer Margaret Billson* Thomas Enders* Director Darren McDew* 2024 FORM 10-K 83 2024 FORM 10-K 83 2024 FORM 10-K 83

Exhibit2 Separation and Distribution Agreement, dated November 7, 2022 by and between General Electric Company and GE HealthCare Technologies Inc. (f/k/a GE Healthcare Holding LLC), as amended. (Incorporated by reference to Exhibit 2.1 to GE’s Current Report on Form 8-K, January 4, 2023 (Commission file no, 001-00035)). 2 Separation and Distribution Agreement, dated November 7, 2022 by and between General Electric Company and GE HealthCare Technologies Inc. (f/k/a GE Healthcare Holding LLC), as amended. (Incorporated by reference to Exhibit 2.1 to GE’s Current Report on Form 8-K, January 4, 2023 (Commission file no, 001-00035)). 2023 FORM 10-K 82 2023 FORM 10-K 82 2023 FORM 10-K 82 3(i) The Restated Certificate of Incorporation of General Electric Company (Incorporated by reference to Exhibit 3(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013), as amended by the Certificate of Amendment, dated December 2, 2015 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated December 3, 2015), as further amended by the Certificate of Amendment, dated January 19, 2016 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated January 20, 2016), as further amended by the Certificate of Change of General Electric Company (Incorporated by reference to Exhibit 3(1) to GE’s Current Report on Form 8-K, dated September 1, 2016), as further amended by the Certificate of Amendment, dated May 13, 2019 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated May 13, 2019), as further amended by the Certificate of Change of General Electric Company (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated December 9, 2019), as further amended by the Certificate of Amendment, dated July 30, 2021 (Incorporated by reference to Exhibit 3.1 to GE's Current Report on Form 8-K, dated July 30, 2021), as further amended by the Certificate of Change of General Electric Company, dated May 15, 2023 (Incorporated by reference to Exhibit 3.1 to GE's Current Report on Form 8-K, dated May 17, 2023) (in each case, under Commission file number 001-00035).3(ii) The By-Laws of General Electric Company, as amended on May 13, 2019 (Incorporated by reference to Exhibit 3.2 to GE’s Current Report on Form 8-K dated May 13, 2019) (Commission file number 001-00035)).4(a) Amended and Restated General Electric Capital Corporation Standard Global Multiple Series Indenture Provisions dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(a) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707 (Commission file number 001-06461)).4(b) Third Amended and Restated Indenture dated as of February 27, 1997, between General Electric Capital Corporation and The Bank of New York Mellon, as successor trustee (Incorporated by reference to Exhibit 4(c) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707 (Commission file number 001-06461)).4(c) First Supplemental Indenture dated as of May 3, 1999, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(dd) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3, File No. 333-76479 (Commission file number 001-06461)).4(d) Second Supplemental Indenture dated as of July 2, 2001, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(f) to General Electric Capital Corporation’s Post-Effective Amendment No.1 to Registration Statement on Form S-3, File No. 333-40880 (Commission file number 001-06461)).4(e) Third Supplemental Indenture dated as of November 22, 2002, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(cc) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3, File No. 333‑100527 (Commission file number 001-06461)).4(f) Fourth Supplemental Indenture dated as of August 24, 2007, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(g) to General Electric Capital Corporation’s Registration Statement on Form S-3, File number 333-156929 (Commission file number 001-06461)).4(g) Senior Note Indenture, dated October 9, 2012, by and between the Company and The Bank of New York Mellon, as trustee (Incorporated by reference to Exhibit 4.1 of GE’s Current Report on Form 8-K dated October 9, 2012 (Commission file number 001-00035)).4(h) Indenture dated as of October 26, 2015, among GE Capital International Funding Company, as issuer, General Electric Company and General Electric Capital Corporation, as guarantors and The Bank of New York Mellon, as trustee (Incorporated by reference to Exhibit 99 to General Electric’s Current Report on Form 8-K filed on October 26, 2015 (Commission file number 001-00035)).4(i) Global Supplemental Indenture dated as of April 10, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as trustee. (Incorporated by reference to Exhibit 4(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (Commission file number 001-00035)).4(j) Second Global Supplemental Indenture dated as of December 2, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as successor trustee (Incorporated by reference to Exhibit 4.2 to General Electric’s Current Report on Form 8-K filed on December 3, 2015 (Commission file number 001-00035)).4(k) Agreement to furnish to the Securities and Exchange Commission upon request a copy of instruments defining the rights of holders of certain long-term debt of the registrant and consolidated subsidiaries.*4(l) Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.*(10) Except for 10(tt), (uu), (vv) and (ww) below, all of the following exhibits consist of Executive Compensation Plans or Arrangements:(a) GE Executive Life Insurance Plan, as amended and restated January 1, 2020, and all amendments to date, including its most recent amendment effective January 1, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(b) GE Leadership Life Insurance Plan, effective January 1, 2020 and all amendments to date, including its most recent amendment January 3, 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(c) General Electric Directors’ Charitable Gift Plan, as amended through December 2002 (Incorporated by reference to Exhibit 10(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (Commission file number 001-00035)).(d) GE Aerospace Supplementary Pension Plan, as further amended and restated and effective January 1, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (Commission file number 001-00035)).(e) GE Energy Supplementary Pension Plan, as further amended and restated and effective January 1, 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (Commission file number 001-00035)).(f) General Electric Restoration Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(f) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). 3(i) The Restated Certificate of Incorporation of General Electric Company (Incorporated by reference to Exhibit 3(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013), as amended by the Certificate of Amendment, dated December 2, 2015 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated December 3, 2015), as further amended by the Certificate of Amendment, dated January 19, 2016 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated January 20, 2016), as further amended by the Certificate of Change of General Electric Company (Incorporated by reference to Exhibit 3(1) to GE’s Current Report on Form 8-K, dated September 1, 2016), as further amended by the Certificate of Amendment, dated May 13, 2019 (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated May 13, 2019), as further amended by the Certificate of Change of General Electric Company (Incorporated by reference to Exhibit 3.1 to GE’s Current Report on Form 8-K, dated December 9, 2019), as further amended by the Certificate of Amendment, dated July 30, 2021 (Incorporated by reference to Exhibit 3.1 to GE's Current Report on Form 8-K, dated July 30, 2021), as further amended by the Certificate of Change of General Electric Company, dated May 15, 2023 (Incorporated by reference to Exhibit 3.1 to GE's Current Report on Form 8-K, dated May 17, 2023) (in each case, under Commission file number 001-00035). 3(ii) The By-Laws of General Electric Company, as amended on May 13, 2019 (Incorporated by reference to Exhibit 3.2 to GE’s Current Report on Form 8-K dated May 13, 2019) (Commission file number 001-00035)). 4(a) Amended and Restated General Electric Capital Corporation Standard Global Multiple Series Indenture Provisions dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(a) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707 (Commission file number 001-06461)). 4(b) Third Amended and Restated Indenture dated as of February 27, 1997, between General Electric Capital Corporation and The Bank of New York Mellon, as successor trustee (Incorporated by reference to Exhibit 4(c) to General Electric Capital Corporation’s Registration Statement on Form S-3, File No. 333-59707 (Commission file number 001-06461)). 4(c) First Supplemental Indenture dated as of May 3, 1999, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(dd) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3, File No. 333-76479 (Commission file number 001-06461)). 4(d) Second Supplemental Indenture dated as of July 2, 2001, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(f) to General Electric Capital Corporation’s Post-Effective Amendment No.1 to Registration Statement on Form S-3, File No. 333-40880 (Commission file number 001-06461)). 4(e) Third Supplemental Indenture dated as of November 22, 2002, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(cc) to General Electric Capital Corporation’s Post-Effective Amendment No. 1 to the Registration Statement on Form S-3, File No. 333‑100527 (Commission file number 001-06461)). 4(f) Fourth Supplemental Indenture dated as of August 24, 2007, supplemental to Third Amended and Restated Indenture dated as of February 27, 1997 (Incorporated by reference to Exhibit 4(g) to General Electric Capital Corporation’s Registration Statement on Form S-3, File number 333-156929 (Commission file number 001-06461)). 4(g) Senior Note Indenture, dated October 9, 2012, by and between the Company and The Bank of New York Mellon, as trustee (Incorporated by reference to Exhibit 4.1 of GE’s Current Report on Form 8-K dated October 9, 2012 (Commission file number 001-00035)). 4(h) Indenture dated as of October 26, 2015, among GE Capital International Funding Company, as issuer, General Electric Company and General Electric Capital Corporation, as guarantors and The Bank of New York Mellon, as trustee (Incorporated by reference to Exhibit 99 to General Electric’s Current Report on Form 8-K filed on October 26, 2015 (Commission file number 001-00035)). 4(i) Global Supplemental Indenture dated as of April 10, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as trustee. (Incorporated by reference to Exhibit 4(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (Commission file number 001-00035)). 4(j) Second Global Supplemental Indenture dated as of December 2, 2015, among General Electric Capital Corporation, General Electric Company and The Bank of New York Mellon, as successor trustee (Incorporated by reference to Exhibit 4.2 to General Electric’s Current Report on Form 8-K filed on December 3, 2015 (Commission file number 001-00035)). 4(k) Agreement to furnish to the Securities and Exchange Commission upon request a copy of instruments defining the rights of holders of certain long-term debt of the registrant and consolidated subsidiaries.* 4(l) Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.* (10) Except for 10(tt), (uu), (vv) and (ww) below, all of the following exhibits consist of Executive Compensation Plans or Arrangements: (a) GE Executive Life Insurance Plan, as amended and restated January 1, 2020, and all amendments to date, including its most recent amendment effective January 1, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (b) GE Leadership Life Insurance Plan, effective January 1, 2020 and all amendments to date, including its most recent amendment January 3, 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (c) General Electric Directors’ Charitable Gift Plan, as amended through December 2002 (Incorporated by reference to Exhibit 10(i) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (Commission file number 001-00035)). (d) GE Aerospace Supplementary Pension Plan, as further amended and restated and effective January 1, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (Commission file number 001-00035)). (e) GE Energy Supplementary Pension Plan, as further amended and restated and effective January 1, 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (Commission file number 001-00035)). (f) General Electric Restoration Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(f) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). 2023 FORM 10-K 83 2023 FORM 10-K 83 2023 FORM 10-K 83 (g) General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (Incorporated by reference to Exhibit 10(g) to GE's Annual Report on Form 10-K for the fiscal year ended December 31, 2018(Commission file number 001-00035)).(h) Form of Director Indemnification Agreement (Incorporated by reference to Exhibit 10(cc) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (Commission file number 001-00035)).(i) Amendment to Nonqualified Deferred Compensation Plans, dated as of December 14, 2004 (Incorporated by reference to Exhibit 10(w) to the GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004 (Commission file number 001-00035)).(j) GE Aerospace Retirement for the Good of the Company Program, as amended effective January 1, 2023 (Incorporated by reference to Exhibit 10(j) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(k) GE Energy Retirement for the Good of the Company Program, effective January 1, 2023 (Incorporated by reference to Exhibit 10(k) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(l) GE US Executive Severance Plan, effective January 1, 2022 (Incorporated by reference to Exhibit 10(j) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (Commission file number 001-00035)).(m) GE Aerospace Excess Benefits Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(m) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(n) GE Energy Excess Benefits Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(n) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(o) GE Aerospace 2006 Executive Deferred Salary Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(o) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(p) GE Energy 2006 Executive Deferred Salary Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(p) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(q) GE 2007 Long-Term Incentive Plan as amended and restated April 26, 2017, as further amended and restated February 15, 2019, and as further amended and restated July 30, 2021 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)).(r) Amendment, dated August 18, 2020, to the GE 2007 Long-Term Incentive Plan (as amended and restated April 26, 2017, and as further amended and restated February 15, 2019) (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)).(s) GE 2022 Long-Term Incentive Plan, effective May 4, 2022 (Incorporated by reference to Exhibit 99.1 to GE's Registration Statement of Form S-8, File No. 333-264715).(t) Form of Agreement of Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)).(u) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (Commission file number 001-00035)).(v) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021 (Commission file number 001-00035)).(w) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2020 (Incorporated by reference to Exhibit 10(r) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (Commission file number 001-00035)).(x) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)).(y) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (Commission file number 001-00035)).(z) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021 (Commission file number 001-00035)).(aa) Form of Agreement for Leadership Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of September 2020 (Incorporated by reference to Exhibit 10(t) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (Commission file number 001-00035)).(bb) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)).(cc) Form of Agreement for Performance Stock Unit Grants to Executive Officers in 2021 under the General Electric Company 2007 Long-Term Incentive Plan, as amended July 30, 2021 (Incorporates by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)). (dd) Form of Transaction Incentive Award.* (g) General Electric 2003 Non-Employee Director Compensation Plan, Amended and Restated as of December 7, 2018 (Incorporated by reference to Exhibit 10(g) to GE's Annual Report on Form 10-K for the fiscal year ended December 31, 2018(Commission file number 001-00035)). (h) Form of Director Indemnification Agreement (Incorporated by reference to Exhibit 10(cc) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (Commission file number 001-00035)). (i) Amendment to Nonqualified Deferred Compensation Plans, dated as of December 14, 2004 (Incorporated by reference to Exhibit 10(w) to the GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004 (Commission file number 001-00035)). (j) GE Aerospace Retirement for the Good of the Company Program, as amended effective January 1, 2023 (Incorporated by reference to Exhibit 10(j) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (k) GE Energy Retirement for the Good of the Company Program, effective January 1, 2023 (Incorporated by reference to Exhibit 10(k) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (l) GE US Executive Severance Plan, effective January 1, 2022 (Incorporated by reference to Exhibit 10(j) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (Commission file number 001-00035)). (m) GE Aerospace Excess Benefits Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(m) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (n) GE Energy Excess Benefits Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(n) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (o) GE Aerospace 2006 Executive Deferred Salary Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(o) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (p) GE Energy 2006 Executive Deferred Salary Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(p) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (q) GE 2007 Long-Term Incentive Plan as amended and restated April 26, 2017, as further amended and restated February 15, 2019, and as further amended and restated July 30, 2021 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)). (r) Amendment, dated August 18, 2020, to the GE 2007 Long-Term Incentive Plan (as amended and restated April 26, 2017, and as further amended and restated February 15, 2019) (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)). (s) GE 2022 Long-Term Incentive Plan, effective May 4, 2022 (Incorporated by reference to Exhibit 99.1 to GE's Registration Statement of Form S-8, File No. 333-264715). (t) Form of Agreement of Stock Option Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)). (u) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (Commission file number 001-00035)). (v) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021 (Commission file number 001-00035)). (w) Form of Agreement for Stock Option Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2020 (Incorporated by reference to Exhibit 10(r) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (Commission file number 001-00035)). (x) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)). (y) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2022 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (Commission file number 001-00035)). (z) Form of Agreement for Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of March 2021 (Incorporated by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2021 (Commission file number 001-00035)). (aa) Form of Agreement for Leadership Restricted Stock Unit Grants to Executive Officers under the General Electric Company 2007 Long-Term Incentive Plan, as of September 2020 (Incorporated by reference to Exhibit 10(t) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (Commission file number 001-00035)). (bb) Form of Agreement for Performance Stock Unit Grants to Executive Officers under the General Electric Company 2022 Long-Term Incentive Plan, as of March 2023 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (Commission file number 001-00035)). (cc) Form of Agreement for Performance Stock Unit Grants to Executive Officers in 2021 under the General Electric Company 2007 Long-Term Incentive Plan, as amended July 30, 2021 (Incorporates by reference to Exhibit 10(b) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)). (dd) Form of Transaction Incentive Award.* 2023 FORM 10-K 84 2023 FORM 10-K 84 2023 FORM 10-K 84 (ee) General Electric International Employee Stock Purchase Plan, as amended and restated on April 25, 2018 (Incorporated by reference to Exhibit 99.1 to GE’s Registration Statement on Form S-8, dated May 1, 2018, File No. 333-224587 (Commission file number 001-00035)).(ff) General Electric Company Annual Executive Incentive Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(ee) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(gg) GE Energy Annual Executive Incentive Compensation Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(ff) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)).(hh) Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (Incorporated by reference to Exhibit 10(z) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (Commission file number 001-00035)).(ii) Amendment No.1, effective August 18, 2020, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (Incorporated by reference to Exhibit 10.1 to General Electric Company’s Current Report on Form 8-K, dated August 20, 2020 (Commission file number 001-00035)).(jj) Amendment No.2, dated as of March 15, 2022, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, dated as of October 1, 2018 (Incorporated by reference to Exhibit 10.1 to GE’s Current on Form 8-K dated March 17, 2022 (Commission file number 001-00035)).(kk) Performance Share Grant Agreement for H. Lawrence Culp, Jr., dated August 18, 2020 (Incorporated by reference to Exhibit 10.2 to General Electric Company’s Current Report on Form 8-K, dated August 20, 2020 (Commission file number 001-00035)).(ll) Notice of Adjustment to the Performance Share Grant Agreement for H. Lawrence Culp, Jr., effective July 30, 2021 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)).(mm) Employment Agreement between Carolina Dybeck Happe and General Electric Company, effective November 24, 2019 (Incorporated by reference to Exhibit 10(z) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (Commission file number 001-00035)).(nn) Memorandum of Understanding between General Electric Company and Carolina Dybeck Happe, effective March 1, 2020 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (Commission file number 001-00035)).(oo) Amendment No. 1, effective September 2, 2020, to the Employment Agreement between Carolina Dybeck Happe and General Electric Company, effective November 24, 2019 (Incorporated by reference to Exhibit 10(d) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)).(pp) Amendment No. 2 to Employment Agreement between Carolina Dybeck Happe and General Electric Company and Amendment No. 1 to GE Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, dated May 17, 2023 (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated May 18, 2023 (Commission file number 001-00035)). (qq) Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, dated September 3, 2020 (Incorporated by reference to Exhibit 10(e) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)).(rr) Notice of Adjustment to the Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, effective July 30, 2021 (Incorporated by reference to Exhibit 10(d) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)).(ss) Offer Letter Agreement for Rahul Ghai, dated October 5, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (Commission file number 001-00035)).(tt) Amended and Restated Agreement, dated April 10, 2015, between General Electric Company and General Electric Capital Corporation (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated April 10, 2015 (Commission file number 001-00035)).(uu) Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated May 27, 2021 (Commission file number 001-00035)).(vv) First Amendment to Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto, dated June 9, 2023.*(ww) Tax Matters Agreement, dated as of January 2, 2023, by and between GE and GE HealthCare Technologies Inc. (Incorporated by reference to Exhibit 10.1 to GE’s Current Report on Form 8-K, dated January 4, 2023 (Commission file no, 001-00035)).(11) Statement re Computation of Per Share Earnings.**(21) Subsidiaries of Registrant.*(22) List of Subsidiary Guarantors and Issuers of Guaranteed Securities.*(23) Consent of Independent Registered Public Accounting Firm.*(24) Power of Attorney.*31(a) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.*31(b) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.*(32) Certification Pursuant to 18 U.S.C. Section 1350.*(97) General Electric Company Clawback Policy Pursuant to Rule 10D-1 under the Securities Exchange Act of 1934.*99(a) Supplement to Present Required Information in Searchable Format.* (ee) General Electric International Employee Stock Purchase Plan, as amended and restated on April 25, 2018 (Incorporated by reference to Exhibit 99.1 to GE’s Registration Statement on Form S-8, dated May 1, 2018, File No. 333-224587 (Commission file number 001-00035)). (ff) General Electric Company Annual Executive Incentive Plan, as amended, effective January 1, 2023 (Incorporated by reference to Exhibit 10(ee) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (gg) GE Energy Annual Executive Incentive Compensation Plan, effective January 1, 2023 (Incorporated by reference to Exhibit 10(ff) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Commission file number 001-00035)). (hh) Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (Incorporated by reference to Exhibit 10(z) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (Commission file number 001-00035)). (ii) Amendment No.1, effective August 18, 2020, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, effective October 1, 2018 (Incorporated by reference to Exhibit 10.1 to General Electric Company’s Current Report on Form 8-K, dated August 20, 2020 (Commission file number 001-00035)). (jj) Amendment No.2, dated as of March 15, 2022, to the Employment Agreement between H. Lawrence Culp, Jr. and General Electric Company, dated as of October 1, 2018 (Incorporated by reference to Exhibit 10.1 to GE’s Current on Form 8-K dated March 17, 2022 (Commission file number 001-00035)). (kk) Performance Share Grant Agreement for H. Lawrence Culp, Jr., dated August 18, 2020 (Incorporated by reference to Exhibit 10.2 to General Electric Company’s Current Report on Form 8-K, dated August 20, 2020 (Commission file number 001-00035)). (ll) Notice of Adjustment to the Performance Share Grant Agreement for H. Lawrence Culp, Jr., effective July 30, 2021 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)). (mm) Employment Agreement between Carolina Dybeck Happe and General Electric Company, effective November 24, 2019 (Incorporated by reference to Exhibit 10(z) to GE’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (Commission file number 001-00035)). (nn) Memorandum of Understanding between General Electric Company and Carolina Dybeck Happe, effective March 1, 2020 (Incorporated by reference to Exhibit 10(c) to GE’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (Commission file number 001-00035)). (oo) Amendment No. 1, effective September 2, 2020, to the Employment Agreement between Carolina Dybeck Happe and General Electric Company, effective November 24, 2019 (Incorporated by reference to Exhibit 10(d) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)). (pp) Amendment No. 2 to Employment Agreement between Carolina Dybeck Happe and General Electric Company and Amendment No. 1 to GE Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, dated May 17, 2023 (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated May 18, 2023 (Commission file number 001-00035)). (qq) Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, dated September 3, 2020 (Incorporated by reference to Exhibit 10(e) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 (Commission file number 001-00035)). (rr) Notice of Adjustment to the Performance Stock Unit Grant Agreement for Carolina Dybeck Happe, effective July 30, 2021 (Incorporated by reference to Exhibit 10(d) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Commission file number 001-00035)). (ss) Offer Letter Agreement for Rahul Ghai, dated October 5, 2023 (Incorporated by reference to Exhibit 10(a) to GE’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (Commission file number 001-00035)). (tt) Amended and Restated Agreement, dated April 10, 2015, between General Electric Company and General Electric Capital Corporation (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated April 10, 2015 (Commission file number 001-00035)). (uu) Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10 to GE’s Current Report on Form 8-K, dated May 27, 2021 (Commission file number 001-00035)). (vv) First Amendment to Amended and Restated Credit Agreement, dated as of May 27, 2021, among General Electric Company, as the borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto, dated June 9, 2023.* (ww) Tax Matters Agreement, dated as of January 2, 2023, by and between GE and GE HealthCare Technologies Inc. (Incorporated by reference to Exhibit 10.1 to GE’s Current Report on Form 8-K, dated January 4, 2023 (Commission file no, 001-00035)). (11) Statement re Computation of Per Share Earnings.** (21) Subsidiaries of Registrant.* (22) List of Subsidiary Guarantors and Issuers of Guaranteed Securities.* (23) Consent of Independent Registered Public Accounting Firm.* (24) Power of Attorney.* 31(a) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.* 31(b) Certification Pursuant to Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.* (32) Certification Pursuant to 18 U.S.C. Section 1350.* (97) General Electric Company Clawback Policy Pursuant to Rule 10D-1 under the Securities Exchange Act of 1934.* 99(a) Supplement to Present Required Information in Searchable Format.* 2023 FORM 10-K 85 2023 FORM 10-K 85 2023 FORM 10-K 85 (101) The following materials from General Electric Company's Annual Report on Form 10-K for the year ended December 31, 2023, formatted as Inline XBRL (eXtensible Business Reporting Language); (i) Statement of Earnings (Loss) for the years ended December 31, 2023, 2022 and 2021, (ii) Statement of Financial Position at December 31, 2023 and 2022, (iii) Statement of Cash Flows for the years ended December 31, 2023, 2022 and 2021, (iv) Statement of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021, (v) Statement of Changes in Shareholders' Equity for the years ended December 31, 2023, 2022 and 2021, and (vi) the Notes to Consolidated Financial Statements.*(104) Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * Filed electronically herewith** Information required to be presented in Exhibit 11 is provided in Note 18 to the consolidated financial statements in this Form 10-K Report in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification 260, Earnings Per Share. (101) The following materials from General Electric Company's Annual Report on Form 10-K for the year ended December 31, 2023, formatted as Inline XBRL (eXtensible Business Reporting Language); (i) Statement of Earnings (Loss) for the years ended December 31, 2023, 2022 and 2021, (ii) Statement of Financial Position at December 31, 2023 and 2022, (iii) Statement of Cash Flows for the years ended December 31, 2023, 2022 and 2021, (iv) Statement of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021, (v) Statement of Changes in Shareholders' Equity for the years ended December 31, 2023, 2022 and 2021, and (vi) the Notes to Consolidated Financial Statements.* (104) Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * Filed electronically herewith ** Information required to be presented in Exhibit 11 is provided in Note 18 to the consolidated financial statements in this Form 10-K Report in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification 260, Earnings Per Share. FORM 10-K CROSS REFERENCE INDEXPage(s)Part IItem 1.Business4-6, 7-13, 78-80Item 1A.Risk Factors27-36Item 1B.Unresolved Staff CommentsNot applicableItem 1C.Cybersecurity26-27Item 2.Properties4Item 3.Legal Proceedings36Item 4.Mine Safety DisclosuresNot applicablePart IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities26Item 6.[Reserved]Not applicableItem 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations6-25Item 7A.Quantitative and Qualitative Disclosures About Market Risk16, 74-76Item 8.Financial Statements and Supplementary Data41-81Item 9.Changes in and Disagreements With Accountants on Accounting and Financial DisclosureNot applicableItem 9A.Controls and Procedures37Item 9B.Other InformationNot applicableItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsNot applicablePart IIIItem 10.Directors, Executive Officers and Corporate Governance82, (a)Item 11.Executive Compensation(b)Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters(c)Item 13.Certain Relationships and Related Transactions, and Director Independence(d)Item 14.Principal Accountant Fees and Services(e)Part IVItem 15.Exhibits and Financial Statement Schedules82-86Item 16.Form 10-K SummaryNot applicableSignatures87 (a)Incorporated by reference to "Governance" in the 2023 Proxy Statement. (b)Incorporated by reference to "Compensation Discussion & Analysis", “Other Executive Compensation Policies & Practices” and "Management Development & Compensation Committee Report" in the 2023 Proxy Statement. (c)Incorporated by reference to “Stock Ownership Information” and "Equity Compensation Plan Information" in the 2023 Proxy Statement. (d)Incorporated by reference to “Related Person Transactions” and “How We Assess Director Independence” in the 2023 Proxy Statement. (e)Incorporated by reference to “Independent Auditor” in the 2023 Proxy Statement for Deloitte & Touche LLP (PCAOB ID No. 34). 2023 FORM 10-K 86 2023 FORM 10-K 86 2023 FORM 10-K 86 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, 2023, to be signed on its behalf by the undersigned, and in the capacities indicated, thereunto duly authorized in the City of Boston and Commonwealth of Massachusetts on the 2nd day of February 2024. General Electric Company (Registrant) By/s/ Rahul GhaiRahul GhaiSenior Vice President and Chief Financial Officer(Principal Financial Officer) Rahul Ghai Senior Vice President and Chief Financial Officer (Principal Financial 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. SignerTitleDate/s/ Rahul GhaiPrincipal Financial OfficerFebruary 2, 2024Rahul GhaiSenior Vice President and Chief Financial Officer /s/ Thomas S. TimkoPrincipal Accounting OfficerFebruary 2, 2024Thomas S. TimkoVice President, Chief Accounting Officer and Controller/s/ H. Lawrence Culp, Jr.Principal Executive OfficerFebruary 2, 2024H. Lawrence Culp, Jr.*Chairman of the Board of DirectorsStephen Angel*DirectorSébastien M. Bazin*DirectorMargaret Billson*DirectorThomas Enders*DirectorEdward P. Garden*DirectorIsabella Goren*DirectorThomas W. Horton*DirectorCatherine A. Lesjak*DirectorDarren W. McDew*DirectorPaula Rosput Reynolds*DirectorJessica Uhl*DirectorA majority of the Board of Directors*By/s/ Brandon SmithBrandon Smith Attorney-in-fact February 2, 2024 2023 FORM 10-K 87 2023 FORM 10-K 87 2023 FORM 10-K 87

Included in the “Financial Statements and Supplementary Data” section of this report: Management’s Annual Report on Internal Control Over Financial Reporting Reports of Independent Registered Public Accounting Firm Statement of Earnings (Loss) for the years ended December 31, 2024, 2023 and 2022 Statement of Financial Position at December 31, 2024 and 2023 Statement of Cash Flows for the years ended December 31, 2024, 2023 and 2022 Statement of Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022 Statement of Changes in Shareholders' Equity for the years ended December 31, 2024, 2023 and 2022 Notes to consolidated financial statements Management’s Discussion and Analysis of Financial Condition and Results of Operations - Summary of Operating Segments

Included in the “Financial Statements and Supplementary Data” section of this report: Management’s Annual Report on Internal Control Over Financial Reporting Reports of Independent Registered Public Accounting Firm Statement of Earnings (Loss) for the years ended December 31, 2023, 2022 and 2021 Statement of Financial Position at December 31, 2023 and 2022 Statement of Cash Flows for the years ended December 31, 2023, 2022 and 2021 Statement of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021 Statement of Changes in Shareholders' Equity for the years ended December 31, 2023, 2022 and 2021 Notes to consolidated financial statements Management’s Discussion and Analysis of Financial Condition and Results of Operations - Summary of Operating Segments

Potentially dilutive securities(b) (a) For the year ended December 31, 2023, included $(58) million related to excise tax on preferred share redemptions. (b) Outstanding stock awards are not included in the computation of diluted earnings (loss) per share because their effect was antidilutive. Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and historically have been included in the calculation pursuant to the two-class method. For the year ended December 31, 2024, such participating securities had an insignificant effect. Effective the second quarter of 2024, the Company calculates earnings per share using the treasury stock method. For the years ended December 31, 2023 and 2022, application of two-class method treatment had an insignificant effect.

(a) For the year ended December 31, 2023, included $(58) million related to excise tax on preferred share redemptions. (b) Outstanding stock awards not included in the computation of diluted earnings (loss) per share because their effect was antidilutive. Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and, therefore, are included in the computation of earnings per share pursuant to the two-class method. For the year ended December 31, 2023, application of this treatment had an insignificant effect. For the years ended December 31, 2022 and 2021, as a result of the loss from continuing operations, losses were not allocated to the participating securities.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)(Dividends per share in dollars)202420232022Beginning balance$(3,623)$(5,893)$(4,569)AOCI before reclasses – net of taxes of $5, $74 and $14436 12 (1,326)Reclasses from AOCI – net of taxes of $103, $(626) and $—(a)2,093 2,262 — AOCI2,129 2,274 (1,326)Less AOCI attributable to noncontrolling interests(22)4 (2)Currency translation adjustments AOCI$(1,472)$(3,623)$(5,893)Beginning balance$1,786 $6,531 $3,646 AOCI before reclasses – net of taxes of $22, $(497) and $597(8)(1,874)2,117 Reclasses from AOCI – net of taxes of $(269), $(778), and $216(a)(1,119)(2,873)772 AOCI(1,127)(4,747)2,889 Less AOCI attributable to noncontrolling interests(7)(2)3 Benefit plans AOCI$665 $1,786 $6,531 Beginning balance$(959)$(1,927)$5,172 AOCI before reclasses – net of taxes of $(271), $248 and $(1,861)(1,017)1,046 (7,135)Reclasses from AOCI – net of taxes of $4, $(7) and $(20)1 (78)36 AOCI(1,016)968 (7,099)Less AOCI attributable to noncontrolling interests12 — — Investment securities and cash flow hedges AOCI $(1,985)$(959)$(1,927)Beginning balance$(3,354)$(983)$(9,109)AOCI before reclasses – net of taxes of $607, $(630) and $2,160 2,284 (2,371)8,126 AOCI2,284 (2,371)8,126 Long-duration insurance contracts AOCI$(1,070)$(3,354)$(983)AOCI at December 31$(3,861)$(6,150)$(2,272)Dividends declared per common share$1.12 $0.32 $0.32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dividends per share in dollars)202320222021Beginning balance$(5,893)$(4,569)$(4,395)AOCI before reclasses – net of taxes of $74, $144 and $(90)12 (1,326)(101)Reclasses from AOCI – net of taxes of $(626), $0 and $87(a)2,262 — (71)AOCI2,274 (1,326)(172)Less AOCI attributable to noncontrolling interests4 (2)2 Currency translation adjustments AOCI$(3,623)$(5,893)$(4,569)Beginning balance$6,531 $3,646 $(5,395)AOCI before reclasses – net of taxes of $(497), $597 and $1,643(1,874)2,117 6,225 Reclasses from AOCI – net of taxes of $(778), $216 and $793(a)(2,873)772 2,819 AOCI(4,747)2,889 9,044 Less AOCI attributable to noncontrolling interests(2)3 3 Benefit plans AOCI$1,786 $6,531 $3,646 Beginning balance$(1,927)$5,172 $6,471 AOCI before reclasses – net of taxes of $248, $(1,861) and $(386)1,046 (7,135)(1,343)Reclasses from AOCI – net of taxes of $(7), $(20) and $23(a)(78)36 44 AOCI968 (7,099)(1,299)Investment securities and cash flow hedges AOCI $(959)$(1,927)$5,172 Beginning balance$(983)$(9,109)$(11,708)AOCI before reclasses – net of taxes of $(630), $2,160 and $691(2,371)8,126 2,599 AOCI(2,371)8,126 2,599 Long-duration insurance contracts AOCI$(3,354)$(983)$(9,109)AOCI at December 31$(6,150)$(2,272)$(4,860)Dividends declared per common share$0.32 $0.32 $0.32

(a) Included $1,324 million and $1,391 million of cash, cash equivalents and restricted cash related to Bank BPH as of December 31, 2024 and 2023, respectively. (b) Included $1,594 million and $1,963 million of valuation allowances against financing receivables held for sale, of which $1,517 million and $1,712 million related to estimated borrower litigation losses, and $944 million and $957 million in All other liabilities, related to estimated borrower litigation losses for Bank BPH’s foreign currency-denominated mortgage portfolio, as of December 31, 2024 and 2023, respectively. Accordingly, total estimated losses related to borrower litigation were $2,461 million and $2,669 million as of December 31, 2024 and 2023, respectively. As a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of December 31, 2024. (c) Included $102 million and $46,233 million of assets and $148 million and $38,021 million of liabilities for GE Vernova as of December 31, 2024 and 2023, respectively. NOTE 3. INVESTMENT SECURITIES. The majority of our investment securities are held within our run-off insurance operations and are classified as non-current as they support the long-duration insurance liabilities and include debt securities all classified as available-for-sale, substantially all of which are investment-grade. The majority of our investment securities are held within our run-off insurance operations and are classified as non-current as they support the long-duration insurance liabilities and include debt securities all classified as available-for-sale, substantially all of which are investment-grade. We sold our remaining equity shares in GE HealthCare during the fourth quarter of 2024. Our senior note from AerCap, for which we have adopted the fair value option and matures in the fourth quarter of 2025, is still outstanding as of December 31, 2024. December 31, 2024December 31, 2023AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfair value AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfair value Equity (GE HealthCare)$— $— $— $— $— $— $— $4,761 Equity note (AerCap)— — — 982 — — — 944 Current investment securities$— $— $— $982 $— $— $— $5,706 DebtU.S. corporate$28,456 $546 $(2,309)$26,692 $27,495 $1,034 $(1,606)$26,923 Non-U.S. corporate2,970 23 (302)2,691 2,529 34 (209)2,353 State and municipal2,409 22 (235)2,196 2,828 79 (185)2,723 Mortgage and asset-backed5,007 47 (183)4,870 4,827 34 (291)4,571 Government and agencies1,180 4 (118)1,066 1,213 3 (116)1,100 Other equity225 — — 225 331 — — 331 Non-current investment securities$40,248 $641 $(3,148)$37,741 $39,222 $1,183 $(2,406)$38,000 Equity (GE HealthCare) The amortized cost of debt securities excludes accrued interest of $473 million and $466 million at December 31, 2024 and 2023, respectively, which is reported in All other current assets. , which is reported in All other current assets. , which is reported in All other current assets. The estimated fair value of investment securities at December 31, 2024 decreased since December 31, 2023, primarily due to share sales of our GE HealthCare equity interest and lower investment values due to higher market yields partially offset by new investments at our run-off insurance operations. 50 2024 FORM 10-K 50 2024 FORM 10-K 50 2024 FORM 10-K Total estimated fair value of debt securities in an unrealized loss position were $21,876 million and $18,730 million, of which $14,011 million and $17,146 million had gross unrealized losses of $(2,795) million and $(2,370) million and had been in a loss position for 12 months or more at December 31, 2024 and 2023, respectively. Gross unrealized losses at December 31, 2024 included $(119) million related to commercial mortgage-backed securities (CMBS) collateralized by pools of commercial mortgage loans on real estate, and $(52) million related to asset-backed securities. The majority of our CMBS and asset-backed securities in an unrealized loss position have received investment-grade credit ratings from the major rating agencies. The majority of our U.S. and non-U.S. corporate securities' gross unrealized losses were in the consumer, electric, technology and energy industries. For our securities in an unrealized loss position, the losses are not indicative of credit losses, we currently do not intend to sell the investments, and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis. For the years ended December 31202420232022Net unrealized gains (losses) for equity securities with readily determinable fair value (RDFV)$320 $6,413 $(42)Proceeds from debt/equity securities sales and early redemptions9,099 12,595 7,240 Gross realized gains on debt securities75 52 34 Gross realized losses on debt securities(66)(66)(42) Cash flows associated with purchases, dispositions and maturities of insurance investment securities are as follows: For the years ended December 3120242023Purchases of investment securities$(7,132)$(5,163)Dispositions and maturities of investment securities6,168 4,176 Net (purchases) dispositions of insurance investment securities$(963)$(986) Contractual maturities of our debt securities (excluding mortgage and asset-backed securities) at December 31, 2024 are as follows: Amortized costEstimated fair valueWithin one year$814 $814 After one year through five years4,003 4,065 After five years through ten years5,160 5,160 After ten years25,039 22,607 We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. In addition to the equity securities described above, we held $1,439 million and $974 million of equity securities without RDFV including $1,410 million and $939 million at our run-off insurance operations at December 31, 2024 and 2023, respectively, that are classified within All other assets in our Statement of Financial Position. Fair value adjustments, including impairments, recorded in earnings were $159 million and $70 million for the years ended December 31, 2024 and 2023, respectively, and insignificant for December 31, 2022. These are primarily limited partnership investments in private equity, infrastructure and real estate funds that are measured at net asset value per share (or equivalent) as a practical expedient to estimated fair value and are excluded from the fair value hierarchy. These limited partnership investments are generally not eligible for redemption and generally cannot be sold without approval of the general partner. Distribution from each fund will be received as the underlying investments of the funds are liquidated at the discretion of the general partner. These investments are generally considered illiquid and our ability to receive the most recent net asset value in a sale would be determined by external market factors. Our run-off insurance operations have approximately $700 million of assets held by states or other regulatory bodies in statutorily required deposit accounts, and approximately $29,800 million of assets held in trust accounts associated with reinsurance contracts and reinsurance security trust agreements in place between either Employers Reassurance Corporation (ERAC) or Union Fidelity Life Insurance Company (UFLIC) as the reinsuring entity and a number of ceding insurers. Assets in these trusts are held by an independent trustee for the benefit of the ceding insurer, and are subject to various investment guidelines as set forth in the respective reinsurance contracts and trust agreements. Some of these trust agreements may allow a ceding company to withdraw trust assets from the trust and hold these assets on its balance sheet, in an account under its control for the benefit of ERAC or UFLIC which might allow the ceding company to exercise investment control over such assets. 2024 FORM 10-K 51 2024 FORM 10-K 51 2024 FORM 10-K 51

(a) Included $1,963 million and $848 million of valuation allowances against Financing receivables held for sale, of which $1,712 million and $611 million related to estimated borrower litigation losses, and $957 million and $748 million in All other liabilities, related to estimated borrower litigation losses for Bank BPH’s foreign currency-denominated mortgage portfolio, as of December 31, 2023 and December 31, 2022, respectively. Accordingly, total estimated losses related to borrower litigation were $2,669 million and $1,359 million as of December 31, 2023 and December 31, 2022, respectively. As a result of the settlement program, the valuation allowance completely offsets the financing receivables balance as of December 31, 2023. NOTE 3. INVESTMENT SECURITIES. All of our debt securities are classified as available-for-sale and substantially all are investment-grade supporting obligations to annuitants and policyholders in our run-off insurance operations. We manage the investments in our run-off insurance operations under strict investment guidelines, including limitations on asset class concentration, single issuer exposures, asset-liability duration variances, and other factors to meet credit quality, yield, liquidity and diversification requirements associated with servicing our insurance liabilities under reasonable circumstances. This process includes consideration of various asset allocation strategies and incorporates information from several external investment advisors to improve our investment yield subject to maintaining our ability to satisfy insurance liabilities when due, as well as considering our risk-based capital requirements, regulatory constraints, and tolerance for surplus volatility. Asset allocation planning is a dynamic process that considers changes in market conditions, risk appetite, liquidity needs and other factors, which are reviewed on a periodic basis by our investment team. Our investment in GE HealthCare comprised 61.6 million shares (approximately 13.5% ownership interest) at December 31, 2023. We sold our remaining equity shares in AerCap and Baker Hughes during the fourth and first quarters of 2023, respectively. Our senior note from AerCap, for which we have adopted the fair value option and matures in the fourth quarter of 2025, is still outstanding as of December 31, 2023. Our GE HealthCare and AerCap investments are recorded as Equity securities with readily determinable fair values (RDFV). Investment securities held within insurance entities are classified as non-current as they support the long-duration insurance liabilities. December 31, 2023December 31, 2022AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfair value AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfair value Equity (GE HealthCare)$— $— $— $4,761 $— $— $— $— Equity and note (AerCap)— — — 944 — — — 7,403 Equity (Baker Hughes)— — — — — — — 207 Current investment securities$— $— $— $5,706 $— $— $— $7,609 DebtU.S. corporate$27,495 $1,034 $(1,606)$26,923 $26,921 $675 $(2,164)$25,432 Non-U.S. corporate2,529 34 (209)2,353 2,548 18 (300)2,266 State and municipal2,828 79 (185)2,723 2,898 66 (241)2,722 Mortgage and asset-backed4,827 34 (291)4,571 4,442 21 (290)4,173 Government and agencies1,213 3 (116)1,100 1,172 2 (147)1,026 Other equity331 — — 331 408 — — 408 Non-current investment securities$39,222 $1,183 $(2,406)$38,000 $38,388 $781 $(3,143)$36,027 The amortized cost of debt securities excludes accrued interest of $466 million and $457 million at December 31, 2023 and December 31, 2022, respectively, which is reported in All other current assets. , which is reported in All other current assets. , which is reported in All other current assets. 2023 FORM 10-K 52 2023 FORM 10-K 52 2023 FORM 10-K 52 The estimated fair value of investment securities at December 31, 2023 increased since December 31, 2022, primarily due to the classification of our remaining equity interest in GE HealthCare within investment securities, the mark-to-market effect on our equity interest in GE HealthCare, new investments at Insurance and lower market yields, offset by AerCap, GE HealthCare and Baker Hughes share sales. Total estimated fair value of debt securities in an unrealized loss position were $18,730 million and $21,482 million, of which $17,146 million and $3,275 million had gross unrealized losses of $(2,370) million and $(835) million and had been in a loss position for 12 months or more at December 31, 2023 and December 31, 2022, respectively. At December 31, 2023, the majority of our U.S. and Non-U.S. corporate securities' gross unrealized losses were in the consumer, electric, technology and insurance industries. In addition, gross unrealized losses on our Mortgage and asset-backed securities included $(203) million related to commercial mortgage-backed securities (CMBS) collateralized by pools of commercial mortgage loans on real estate, and $(82) million related to asset-backed securities. The majority of our CMBS and asset-backed securities in an unrealized loss position have received investment-grade credit ratings from the major rating agencies. For our securities in an unrealized loss position, the losses are not indicative of credit losses, we currently do not intend to sell the investments, and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis. For the years ended December 31202320222021Net unrealized gains (losses) for equity securities with RDFV$6,413 $(40)$1,660 Proceeds from debt/equity securities sales and early redemptions12,712 7,267 6,665 Gross realized gains on debt securities52 34 69 Gross realized losses and impairments on debt securities(66)(42)(11) Cash flows associated with purchases, dispositions and maturities of insurance investment securities are as follows: For the years ended December 3120232022Purchases of investment securities$(5,163)$(4,046)Dispositions and maturities of investment securities4,176 3,170 Net (purchases) dispositions of insurance investment securities$(986)$(876) Contractual maturities of our debt securities (excluding mortgage and asset-backed securities) at December 31, 2023 are as follows: Amortized costEstimated fair valueWithin one year$618 $609 After one year through five years5,004 5,049 After five years through ten years5,131 5,234 After ten years23,311 22,205 We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. In addition to the equity securities described above, we held $1,012 million and $614 million of equity securities without RDFV, including $939 million and $548 million at Insurance, as of December 31, 2023 and December 31, 2022, respectively, that are classified within non-current All other assets in our Statement of Financial Position. Fair value adjustments, including impairments, recorded in earnings were $69 million for the year ended December 31, 2023 and insignificant for the years ended December 31, 2022 and 2021. These are primarily limited partnership investments in private equity, infrastructure and real estate funds that are measured at net asset value per share (or equivalent) as a practical expedient to estimated fair value and are excluded from the fair value hierarchy. Our run-off insurance operations have approximately $800 million of assets held by states or other regulatory bodies in statutorily required deposit accounts, and approximately $31,800 million of assets held in trust accounts associated with reinsurance contracts and reinsurance security trust agreements in place between either Employers Reassurance Corporation (ERAC) or Union Fidelity Life Insurance Company (UFLIC) as the reinsuring entity and a number of ceding insurers. Assets in these trusts are held by an independent trustee for the benefit of the ceding insurer, and are subject to various investment guidelines as set forth in the respective reinsurance contracts and trust agreements. Some of these trust agreements may allow a ceding company to withdraw trust assets from the trust and hold these assets on its balance sheet, in an account under its control for the benefit of ERAC or UFLIC which might allow the ceding company to exercise investment control over such assets. 2023 FORM 10-K 53 2023 FORM 10-K 53 2023 FORM 10-K 53

DISCONTINUED OPERATIONS primarily comprise our former GE Vernova and GE HealthCare businesses, our mortgage portfolio in Poland (Bank BPH) and other trailing assets and liabilities associated with prior dispositions. Results of operations, financial position and cash flows for these businesses are reported as discontinued operations for all periods presented and the notes to the financial statements have been adjusted on a retrospective basis. GE Vernova. On April 2, 2024, we completed the previously announced separation of GE Vernova. The separation was structured as a tax-free spin-off and was achieved through the Company's pro-rata distribution of all the outstanding shares of GE Vernova to holders of the Company's common stock. In connection with the GE Vernova separation, the historical results of GE Vernova and certain assets and liabilities included in the separation are reported in GE Aerospace consolidated financial statements as discontinued operations. In addition, the Company contributed $515 million of cash to fund GE Vernova’s future operations such that GE Vernova’s cash balance on the date of separation was $4,242 million. We have continuing involvement with GE Vernova primarily through ongoing sales of products, a transition services agreement, through which GE Aerospace and GE Vernova continue to provide certain services to each other for a period of time following the separation, a separation and distribution agreement, including performance and financial guarantees, a tax matters agreement and a trademark licensing agreement. For the nine months (post separation) ended December 31, 2024, we had direct and indirect sales of $248 million to GE Vernova, primarily related to engine sales and parts. We collected net cash of $943 million related to the transition services agreement and sales of engines and parts in 2024. GE HealthCare. On January 3, 2023, we completed the previously announced separation of our HealthCare business, into a separate, independent, publicly traded company, GE HealthCare Technologies Inc. (GE HealthCare). The separation was structured as a tax-free spin-off and was achieved through the Company's pro-rata distribution of approximately 80.1% of the outstanding shares of GE HealthCare to holders of the Company's common stock. In connection with the separation, the historical results of GE HealthCare and certain assets and liabilities included in the separation are reported in GE Aerospace consolidated financial statements as discontinued operations. We have continuing involvement with GE HealthCare primarily through a transition services agreement, through which GE Aerospace and GE HealthCare continue to provide certain services to each other for a period of time following the separation, a tax matters agreement and a trademark licensing agreement. For the year ended December 31, 2024, we collected net cash of $230 million related to these activities. As of December 31, 2024, the transition services agreement was completed. Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. As previously reported, a settlement program was adopted and we recorded a charge of $1,014 million in the quarter ended June 30, 2023. The estimate of total losses for borrower litigation at Bank BPH was $2,461 million and $2,669 million as of December 31, 2024 and 2023, respectively. In order to maintain appropriate regulatory capital levels, in the quarter ended June 30, 2023, we made the previously reported non-cash capital contributions in the form of intercompany loan forgiveness of $1,797 million; no incremental contributions from GE Aerospace were required in 2024. For further information about factors that are relevant to the estimate of total losses for borrower litigation at Bank BPH, see Note 24. Future changes or adverse developments could increase our estimate of total losses and potentially require future cash contributions to Bank BPH. The Bank BPH financing receivable portfolio is recorded at the lower of cost or fair value, less cost to sell, which reflects market yields and estimates with respect to ongoing borrower litigation. At December 31, 2024, the total portfolio had no carrying value, net of a valuation allowance. Earnings (loss) related to ongoing borrower litigation included zero, $1,189 million and $720 million in pre-tax charges for the years ended December 31, 2024, 2023 and 2022, respectively. 48 2024 FORM 10-K 48 2024 FORM 10-K 48 2024 FORM 10-K RESULTS OF DISCONTINUED OPERATIONSFor the year ended December 31, 2024 GE VernovaGE HealthCareBank BPH & OtherTotalTotal revenue$7,244 $— $— $7,244 Cost of equipment and services sold(6,074)— — (6,074)Other income, costs and expenses(1,299)21 (41)(1,320)Earnings (loss) of discontinued operations before income taxes(129)21 (41)(150)Benefit (provision) for income taxes27 (5)17 40 Earnings (loss) of discontinued operations, net of taxes(102)16 (24)(110)Gain (loss) on disposal before income taxes— — 21 21 Benefit (provision) for income taxes— — (1)(1)Gain (loss) on disposal, net of taxes— — 19 19 Earnings (loss) from discontinued operations, net of taxes$(102)$16 $(4)$(91)

DISCONTINUED OPERATIONS primarily comprise our former GE HealthCare business, our mortgage portfolio in Poland (Bank BPH), our GE Capital Aviation Services (GECAS) business, and other trailing assets and liabilities associated with prior dispositions. Results of operations, financial position and cash flows for these businesses are reported as discontinued operations for all periods presented and the notes to the financial statements have been adjusted on a retrospective basis. GE HealthCare. On January 3, 2023, we completed the previously announced separation of our HealthCare business (the Separation), into a separate, independent, publicly traded company, GE HealthCare Technologies Inc. (GE HealthCare). The Separation was structured as a tax-free spin-off, and was achieved through GE's pro-rata distribution of approximately 80.1% of the outstanding shares of GE HealthCare to holders of GE common stock. In connection with the Separation, the historical results of GE HealthCare and certain assets and liabilities included in the Separation are reported in GE's consolidated financial statements as discontinued operations. We have continuing involvement with GE HealthCare primarily through a transition services agreement, through which GE and GE HealthCare continue to provide certain services to each other for a period of time following the Separation, and a trademark licensing agreement. For the year ended December 31, 2023, we collected net cash of $842 million related to these activities. Bank BPH. As previously reported, Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency indexed or denominated mortgage loans in various courts throughout Poland. As previously reported, GE and Bank BPH approved the adoption of a settlement program and recorded a charge of $1,014 million in the quarter ended June 30, 2023. The estimate of total losses for borrower litigation at Bank BPH was $2,669 million and $1,359 million as of December 31, 2023 and 2022, respectively. In order to maintain appropriate regulatory capital levels, during the year ended December 31, 2023, we made previously reported non-cash capital contributions in the form of intercompany loan forgiveness of $1,797 million; no incremental cash contributions from GE were required in 2023. During the year ended December 31, 2022, we made cash capital contributions of $530 million. For further information about factors that are relevant to the estimate of total losses for borrower litigation at Bank BPH, see Note 24. Future changes or adverse developments could increase our estimate of total losses and potentially require future cash contributions to Bank BPH. 2023 FORM 10-K 50 2023 FORM 10-K 50 2023 FORM 10-K 50 The Bank BPH financing receivable portfolio is recorded at the lower of cost or fair value, less cost to sell, which reflects market yields and estimates with respect to ongoing borrower litigation. Earnings (loss) from discontinued operations included $1,189 million, $720 million and $509 million in pre-tax charges for the years ended December 31, 2023, 2022 and 2021, respectively, primarily related to the ongoing borrower litigation. At December 31, 2023, the total portfolio had a carrying value of zero, net of a valuation allowance. GECAS/AerCap. We have continuing involvement with AerCap, primarily through a note receivable, ongoing sales or leases of products and services, and transition services that we provide to AerCap. We paid net cash of $203 million to AerCap related to this activity. RESULTS OF DISCONTINUED OPERATIONSFor the year ended December 31, 2023 GE HealthCareGECASBank BPH & OtherTotalTotal revenues$— $— $— $— Cost of equipment and services sold— — — — Other income, costs and expenses(50)— (1,252)(1,301)Earnings (loss) of discontinued operations before income taxes(50)— (1,252)(1,301)Benefit (provision) for income taxes1,706 — 4 1,710 Earnings (loss) of discontinued operations, net of taxes1,656 — (1,248)409 Gain (loss) on disposal before income taxes— — 6 6 Benefit (provision) for income taxes— — — — Gain (loss) on disposal, net of taxes— — 6 6 Earnings (loss) from discontinued operations, net of taxes$1,656 $— $(1,242)$414

2024 FORM 10-K 39 2024 FORM 10-K 39 2024 FORM 10-K 39 STATEMENT OF CASH FLOWSFor the years ended December 31 (In millions)202420232022Net earnings (loss)$6,566 $9,445 $403 (Earnings) loss from discontinued operations activities91 3 949 Adjustments to reconcile net earnings (loss) to cash from (used for) operating activities:Depreciation and amortization of property, plant and equipment834 797 846 Amortization of intangible assets (Note 7)350 382 338 Goodwill impairments (Note 7)251 — — (Gains) losses on equity securities (Note 19)(719)(5,846)56 Debt extinguishment costs— — 465 Principal pension plans (benefit) cost (Note 13)(653)(755)305 Principal pension plans employer contributions(210)(184)(173)Other postretirement benefit plans (net)(299)(348)(332)Provision (benefit) for income taxes (Note 15)962 994 169 Cash recovered (paid) during the year for income taxes(334)(1,041)(547)Changes in operating working capital:Decrease (increase) in current receivables(1,076)(210)(1,875)Decrease (increase) in inventories, including deferred inventory costs(1,528)(1,321)(980)Decrease (increase) in current contract assets(112)(27)36 Increase (decrease) in contract liabilities and current deferred income1,066 1,226 1,075 Increase (decrease) in progress collections 531 242 1,187 Increase (decrease) in accounts payable 688 713 1,639 Increase (decrease) in sales discounts and allowances(266)(203)47 All other operating activities(326)743 418 Cash from (used for) operating activities – continuing operations5,817 4,609 4,027 Cash from (used for) operating activities – discontinued operations(1,107)580 1,889 Cash from (used for) operating activities4,710 5,189 5,917 Additions to property, plant and equipment and internal-use software(1,032)(862)(662)Dispositions of property, plant and equipment114 60 153 Proceeds from principal business dispositions499 — 15 Net cash from (payments for) principal businesses purchased(135)(41)(30)Sales of retained ownership interests5,250 9,004 4,717 Net (purchases) dispositions of insurance investment securities(963)(986)(876)All other investing activities(4,289)519 7,053 Cash from (used for) investing activities – continuing operations(556)7,693 10,369 Cash from (used for) investing activities – discontinued operations(1,110)(3,726)(8,099)Cash from (used for) investing activities(1,666)3,967 2,270 Net increase (decrease) in borrowings (maturities of 90 days or less)2 (71)42 Newly issued debt (maturities longer than 90 days)— — — Repayments and other debt reductions (maturities longer than 90 days)(788)(3,282)(11,088)Dividends paid to shareholders(1,008)(589)(639)Cash received (paid) for debt extinguishment costs— — 338 Redemption of preferred stock — (5,795)(144)Purchases of common stock for treasury(5,827)(1,233)(1,048)All other financing activities992 459 (1,000)Cash from (used for) financing activities – continuing operations(6,628)(10,511)(13,540)Cash from (used for) financing activities – discontinued operations(98)1,899 7,955 Cash from (used for) financing activities(6,726)(8,613)(5,585)Effect of currency exchange rate changes on cash, cash equivalents and restricted cash(193)120 (369)Increase (decrease) in cash, cash equivalents and restricted cash(3,875)664 2,232 Cash, cash equivalents and restricted cash at beginning of year19,755 19,092 16,859 Cash, cash equivalents and restricted cash at December 3115,880 19,755 19,092 Less cash, cash equivalents and restricted cash of discontinued operations at December 31(1,327)(3,762)(4,868)Cash, cash equivalents and restricted cash of continuing operations at December 31$14,553 $15,993 $14,223 Supplemental disclosure of cash flows informationCash paid during the year for interest$(969)$(1,067)$(1,561) Increase (decrease) in accounts payable Additions to property, plant and equipment and internal-use software Cash, cash equivalents and restricted cash at December 31 Less cash, cash equivalents and restricted cash of discontinued operations at December 31 Cash, cash equivalents and restricted cash of continuing operations at December 31 40 2024 FORM 10-K 40 2024 FORM 10-K 40 2024 FORM 10-K STATEMENT OF COMPREHENSIVE INCOME (LOSS)For the years ended December 31 (In millions)202420232022Net earnings (loss)$6,566 $9,445 $403 Less: net earnings (loss) attributable to noncontrolling interests11 (37)67 Net earnings (loss) attributable to the Company$6,556 $9,482 $336 Currency translation adjustments2,131 2,274 (1,326)Benefit plans(1,128)(4,747)2,889 Investment securities and cash flow hedges(1,016)968 (7,099)Long-duration insurance contracts2,284 (2,371)8,126 Less: other comprehensive income (loss) attributable to noncontrolling interests(17)2 1 Other comprehensive income (loss) attributable to the Company$2,289 $(3,878)$2,589 Comprehensive income (loss)$8,838 $5,569 $2,993 Less: comprehensive income (loss) attributable to noncontrolling interests(7)(35)68 Comprehensive income (loss) attributable to the Company$8,845 $5,604 $2,925 Currency translation adjustments Benefit plans Investment securities and cash flow hedges Less: other comprehensive income (loss) attributable to noncontrolling interests Less: comprehensive income (loss) attributable to noncontrolling interests STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITYFor the years ended December 31 (In millions)202420232022Preferred stock issued$— $— $6 Common stock issued$15 $15 $15 Beginning balance(6,150)(2,272)(4,860)Currency translation adjustments2,151 2,270 (1,324)Benefit plans(1,120)(4,745)2,886 Investment securities and cash flow hedges(1,026)968 (7,099)Long-duration insurance contracts2,284 (2,371)8,126 Accumulated other comprehensive income (loss)$(3,861)$(6,150)$(2,272)Beginning balance26,962 34,173 34,691 Gains (losses) on treasury stock dispositions(3,028)(1,845)(741)Stock-based compensation361 355 362 Other changes(a)(29)(5,721)(139)Other capital$24,266 $26,962 $34,173 Beginning balance86,553 83,001 83,229 Net earnings (loss) attributable to the Company6,556 9,482 336 Dividends and other transactions with shareholders(b)(12,599)(5,937)(642)Other(21)6 77 Retained earnings$80,488 $86,553 $83,001 Beginning balance(79,976)(81,209)(81,093)Purchases(5,826)(1,244)(1,048)Dispositions4,236 2,477 931 Common stock held in treasury$(81,566)$(79,976)$(81,209)GE Aerospace shareholders' equity balance19,342 27,403 33,714 Noncontrolling interests balance(c)223 1,202 1,216 Total equity balance at December 31$19,564 $28,605 $34,930 Investment securities and cash flow hedges GE Aerospace shareholders' equity balance

2023 FORM 10-K 42 2023 FORM 10-K 42 2023 FORM 10-K 42 STATEMENT OF CASH FLOWSFor the years ended December 31 (In millions)202320222021Net earnings (loss)$9,443 $407 $(6,408)(Earnings) loss from discontinued operations activities(414)(1,202)1,469 Adjustments to reconcile net earnings (loss) to cash from (used for) operating activities:Depreciation and amortization of property, plant and equipment1,473 1,564 1,622 Amortization of intangible assets (Note 7)606 1,338 738 (Gains) losses on purchases and sales of business interests (Note 19)(104)(60)52 (Gains) losses on retained and sold ownership interests and other equity securities(5,842)113 (1,632)Debt extinguishment costs— 465 6,524 Principal pension plans cost (Note 13)(1,108)376 1,766 Principal pension plans employer contributions(212)(204)(205)Other postretirement benefit plans (net)(644)(755)(900)Provision (benefit) for income taxes1,162 (3)(757)Cash recovered (paid) during the year for income taxes(1,148)(430)(373)Changes in operating working capital:Decrease (increase) in current receivables(833)(2,719)524 Decrease (increase) in inventories, including deferred inventory costs(1,524)(1,925)(306)Decrease (increase) in current contract assets1,283 1,652 1,007 Increase (decrease) in accounts payable and equipment project payables(221)2,236 (390)Increase (decrease) in progress collections and current deferred income2,933 2,348 (1,113)Financial services derivatives net collateral/settlement3 (154)(1,143)All other operating activities717 998 (1,326)Cash from (used for) operating activities – continuing operations5,570 4,043 (850)Cash from (used for) operating activities – discontinued operations(391)1,873 4,332 Cash from (used for) operating activities5,179 5,916 3,481 Additions to property, plant and equipment and internal-use software(1,595)(1,174)(1,113)Dispositions of property, plant and equipment89 206 151 Proceeds from sale of discontinued operations— — 22,356 Proceeds from principal business dispositions— 15 — Net cash from (payments for) principal businesses purchased(365)(30)(69)Dispositions of retained ownership interests9,004 4,717 4,145 Net (purchases) dispositions of insurance investment securities(986)(876)(1,290)All other investing activities791 8,033 1,641 Cash from (used for) investing activities – continuing operations6,938 10,891 25,822 Cash from (used for) investing activities – discontinued operations(2,960)(8,621)(4,443)Cash from (used for) investing activities3,977 2,270 21,379 Net increase (decrease) in borrowings (maturities of 90 days or less)(55)56 (704)Newly issued debt (maturities longer than 90 days)11 16 359 Repayments and other debt reductions (maturities longer than 90 days)(3,360)(11,202)(36,510)Dividends paid to shareholders(589)(639)(575)Cash received (paid) for debt extinguishment costs— 338 (7,196)Redemption of GE preferred stock(5,795)(144)— Purchases of GE common stock for treasury(1,233)(1,048)(107)All other financing activities410 (1,065)(523)Cash from (used for) financing activities – continuing operations(10,612)(13,688)(45,256)Cash from (used for) financing activities – discontinued operations2,000 8,102 (140)Cash from (used for) financing activities(8,613)(5,585)(45,397)Effect of currency exchange rate changes on cash, cash equivalents and restricted cash120 (369)(213)Increase (decrease) in cash, cash equivalents and restricted cash$664 $2,232 $(20,750)Cash, cash equivalents and restricted cash at beginning of year$19,092 $16,859 $37,608 Cash, cash equivalents and restricted cash at December 3119,755 19,092 16,859 Less cash, cash equivalents and restricted cash of discontinued operations at December 311,396 2,627 1,332 Cash, cash equivalents and restricted cash of continuing operations at December 31$18,360 $16,464 $15,527 Supplemental disclosure of cash flows informationCash paid during the year for interest$(1,067)$(1,561)$(2,536) Cash, cash equivalents and restricted cash at December 31 Less cash, cash equivalents and restricted cash of discontinued operations at December 31 Cash, cash equivalents and restricted cash of continuing operations at December 31 2023 FORM 10-K 43 2023 FORM 10-K 43 2023 FORM 10-K 43 STATEMENT OF COMPREHENSIVE INCOME (LOSS)For the years ended December 31 (In millions)202320222021Net earnings (loss)$9,443 $407 $(6,408)Less: net earnings (loss) attributable to noncontrolling interests(37)67 (71)Net earnings (loss) attributable to the Company$9,481 $339 $(6,337)Currency translation adjustments2,274 (1,326)(172)Benefit plans(4,747)2,889 9,044 Investment securities and cash flow hedges968 (7,099)(1,299)Long-duration insurance contracts(a)(2,371)8,126 2,599 Less: other comprehensive income (loss) attributable to noncontrolling interests2 1 5 Other comprehensive income (loss) attributable to the Company$(3,878)$2,589 $10,166 Comprehensive income (loss)$5,567 $2,996 $3,764 Less: comprehensive income (loss) attributable to noncontrolling interests(35)68 (66)Comprehensive income (loss) attributable to the Company$5,602 $2,928 $3,830 Currency translation adjustments Benefit plans Investment securities and cash flow hedges Less: other comprehensive income (loss) attributable to noncontrolling interests Less: comprehensive income (loss) attributable to noncontrolling interests (a) Represents the net after-tax change in future policy benefit reserves and related reinsurance recoverables from updating the discount rate. See Note 12 for further information. STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY For the years ended December 31 (In millions)202320222021Preferred stock issued(a)$— $6 $6 Common stock issued$15 $15 $15 Beginning balance(2,272)(4,860)(9,749)Currency translation adjustments2,270 (1,324)(174)Benefit plans(4,745)2,886 9,041 Investment securities and cash flow hedges968 (7,099)(1,299)Long-duration insurance contracts(2,371)8,126 2,599 Adoption of new accounting standards— — (5,278)Accumulated other comprehensive income (loss)$(6,150)$(2,272)$(4,860)Beginning balance34,173 34,691 34,307 Gains (losses) on treasury stock dispositions(1,845)(741)(740)Stock-based compensation355 362 429 Other changes(a)(5,721)(139)696 Other capital$26,962 $34,173 $34,691 Beginning balance82,983 83,286 92,247 Net earnings (loss) attributable to the Company9,481 339 (6,337)Dividends and other transactions with shareholders(b)(5,937)(642)(617)Adoption of new accounting standards— — (2,007)Retained earnings$86,527 $82,983 $83,286 Beginning balance(81,209)(81,093)(81,961)Purchases(1,244)(1,048)(107)Dispositions2,477 931 974 Common stock held in treasury$(79,976)$(81,209)$(81,093)GE shareholders' equity balance27,378 33,696 32,044 Noncontrolling interests balance1,202 1,216 1,302 Total equity balance at December 31$28,579 $34,912 $33,346 Investment securities and cash flow hedges

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. /s/ DELOITTE & TOUCHE LLP Cincinnati, OhioFebruary 3, 2025 /s/ DELOITTE & TOUCHE LLP 2024 FORM 10-K 37 2024 FORM 10-K 37 2024 FORM 10-K 37 STATEMENT OF EARNINGS (LOSS)For the years ended December 31 (In millions; per-share amounts in dollars)202420232022Sales of equipment$10,274 $9,318 $7,837 Sales of services24,847 22,641 18,345 Insurance revenue (Note 12)3,581 3,389 2,957 Total revenue38,702 35,348 29,139 Cost of equipment sold10,341 9,900 8,151 Cost of services sold13,967 13,039 10,836 Selling, general and administrative expenses4,437 4,045 3,672 Separation costs492 692 625 Research and development1,286 1,011 808 Interest and other financial charges986 1,029 1,339 Debt extinguishment costs— — 465 Insurance losses, annuity benefits and other costs (Note 12)2,429 2,886 2,592 Goodwill impairments (Note 7)251 — — Non-operating benefit cost (income)(842)(978)(60)Total costs and expenses33,346 31,625 28,428 Other income (loss) (Note 19)2,264 6,718 811 Earnings (loss) from continuing operations before income taxes7,620 10,441 1,522 Benefit (provision) for income taxes (Note 15)(962)(994)(169)Earnings (loss) from continuing operations6,657 9,448 1,353 Earnings (loss) from discontinued operations, net of taxes (Note 2)(91)(3)(949)Net earnings (loss)6,566 9,445 403 Less net earnings (loss) attributable to noncontrolling interests11 (37)67 Net earnings (loss) attributable to the Company6,556 9,482 336 Preferred stock dividends and other— (295)(289)Net earnings (loss) attributable to common shareholders$6,556 $9,188 $48 Amounts attributable to common shareholdersEarnings (loss) from continuing operations$6,657 $9,448 $1,353 Less net earnings (loss) attributable to noncontrolling interests, continuing operations(13)(1)2 Earnings (loss) from continuing operations attributable to the Company6,670 9,449 1,350 Preferred stock dividends and other— (295)(289)Earnings (loss) from continuing operations attributable to common shareholders6,670 9,154 1,061 Earnings (loss) from discontinued operations attributableto common shareholders(114)33 (1,014)Net earnings (loss) attributable to common shareholders$6,556 $9,188 $48 Earnings (loss) per share from continuing operations (Note 18)Diluted earnings (loss) per share$6.09 $8.33 $0.97 Basic earnings (loss) per share$6.15 $8.41 $0.97 Net earnings (loss) per share (Note 18)Diluted earnings (loss) per share$5.99 $8.36 $0.05 Basic earnings (loss) per share$6.04 $8.44 $0.05 38 2024 FORM 10-K 38 2024 FORM 10-K 38 2024 FORM 10-K STATEMENT OF FINANCIAL POSITIONDecember 31 (In millions)20242023Cash, cash equivalents and restricted cash$13,619 $15,204 Investment securities (Note 3)982 5,706 Current receivables (Note 4)9,327 8,703 Inventories, including deferred inventory costs (Note 5)9,763 8,284 Current contract assets (Note 8)2,982 2,875 All other current assets (Note 9)962 1,244 Assets of businesses held for sale (Note 2)— 541 Current assets37,635 42,556 Investment securities (Note 3)37,741 38,000 Property, plant and equipment – net (Note 6)7,277 7,246 Goodwill (Note 7)8,538 8,948 Other intangible assets – net (Note 7)4,257 4,642 Contract and other deferred assets (Note 8)4,831 4,785 All other assets (Note 9)13,910 11,695 Deferred income taxes (Note 15)7,111 7,502 Assets of discontinued operations (Note 2)1,841 47,927 Total assets$123,140 $173,300 Short-term borrowings (Note 10)$2,039 $1,108 Accounts payable (Note 11)7,909 7,516 Progress collections (Note 8)6,695 6,177 Contract liabilities and deferred income (Note 8)9,353 8,322 Sales discounts and allowances (Note 14)3,475 3,741 All other current liabilities (Note 14)4,920 4,860 Liabilities of businesses held for sale (Note 2)— 378 Current liabilities34,392 32,103 Deferred income (Note 8)1,013 975 Long-term borrowings (Note 10)17,234 19,417 Insurance liabilities and annuity benefits (Note 12)36,209 39,576 Non-current compensation and benefits7,035 7,656 All other liabilities (Note 14)6,376 5,756 Liabilities of discontinued operations (Note 2)1,317 39,213 Total liabilities103,576 144,695 Common stock (1,073,692,183 and 1,088,415,995 shares outstanding at December 31, 2024 and 2023, respectively) (Note 16)15 15 Accumulated other comprehensive income (loss) – net attributable to the Company (Note 16)(3,861)(6,150)Other capital24,266 26,962 Retained earnings80,488 86,553 Less common stock held in treasury(81,566)(79,976)Total shareholders’ equity19,342 27,403 Noncontrolling interests223 1,202 Total equity19,564 28,605 Total liabilities and equity$123,140 $173,300 Assets of discontinued operations (Note 2)

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. /s/ DELOITTE & TOUCHE LLPBoston, Massachusetts February 2, 2024 2023 FORM 10-K 40 2023 FORM 10-K 40 2023 FORM 10-K 40 STATEMENT OF EARNINGS (LOSS)For the years ended December 31 (In millions; per-share amounts in dollars)202320222021Sales of equipment$26,793 $22,334 $25,096 Sales of services37,772 32,808 28,272 Insurance revenues (Note 12)3,389 2,957 3,101 Total revenues67,954 58,100 56,469 Cost of equipment sold27,683 23,743 25,161 Cost of services sold22,709 20,529 18,217 Selling, general and administrative expenses9,195 9,173 8,177 Separation costs (Note 20)978 715 — Research and development1,907 1,786 1,682 Interest and other financial charges1,118 1,477 1,790 Debt extinguishment costs— 465 6,524 Insurance losses, annuity benefits and other costs (Note 12)2,886 2,592 2,174 Non-operating benefit cost (income)(1,585)(409)1,136 Total costs and expenses64,891 60,071 64,861 Other income (loss) (Note 19)7,129 1,172 2,696 Earnings (loss) from continuing operations before income taxes10,191 (799)(5,695)Benefit (provision) for income taxes (Note 15)(1,162)3 757 Earnings (loss) from continuing operations9,029 (795)(4,939)Earnings (loss) from discontinued operations, net of taxes (Note 2)414 1,202 (1,469)Net earnings (loss)9,443 407 (6,408)Less net earnings (loss) attributable to noncontrolling interests(37)67 (71)Net earnings (loss) attributable to the Company9,481 339 (6,337)Preferred stock dividends and other(295)(289)(237)Net earnings (loss) attributable to GE common shareholders$9,186 $51 $(6,573)Amounts attributable to GE common shareholdersEarnings (loss) from continuing operations$9,029 $(795)$(4,939)Less net earnings (loss) attributable to noncontrolling interests, continuing operations(38)16 (117)Earnings (loss) from continuing operations attributable to the Company9,067 (811)(4,821)Preferred stock dividends and other(295)(289)(237)Earnings (loss) from continuing operations attributable to GE common shareholders8,772 (1,100)(5,058)Earnings (loss) from discontinued operations attributableto GE common shareholders414 1,151 (1,515)Net earnings (loss) attributable to GE common shareholders$9,186 $51 $(6,573)Earnings (loss) per share from continuing operations (Note 18)Diluted earnings (loss) per share$7.98 $(1.00)$(4.62)Basic earnings (loss) per share$8.06 $(1.00)$(4.62)Net earnings (loss) per share (Note 18)Diluted earnings (loss) per share$8.36 $0.05 $(6.00)Basic earnings (loss) per share$8.44 $0.05 $(6.00) 2023 FORM 10-K 41 2023 FORM 10-K 41 2023 FORM 10-K 41 STATEMENT OF FINANCIAL POSITIONDecember 31 (In millions)20232022Cash, cash equivalents and restricted cash$16,967 $15,810 Investment securities (Note 3)5,706 7,609 Current receivables (Note 4)15,466 14,831 Inventories, including deferred inventory costs (Note 5)16,528 14,891 Current contract assets (Note 8)1,500 2,467 All other current assets (Note 9)1,647 1,400 Assets of businesses held for sale (Note 2)1,985 1,374 Current assets59,799 58,384 Investment securities (Note 3)38,000 36,027 Property, plant and equipment – net (Note 6)12,494 12,192 Goodwill (Note 7)13,385 12,999 Other intangible assets – net (Note 7)5,695 6,105 Contract and other deferred assets (Note 8)5,406 5,776 All other assets (Note 9)15,997 15,477 Deferred income taxes (Note 15)10,575 10,001 Assets of discontinued operations (Note 2)1,695 31,890 Total assets$163,045 $188,851 Short-term borrowings (Note 10)$1,253 $3,739 Accounts payable and equipment project payables (Note 11)15,408 15,399 Progress collections and deferred income (Note 8)19,677 16,216 All other current liabilities (Note 14)12,712 12,130 Liabilities of businesses held for sale (Note 2)1,826 1,944 Current liabilities50,876 49,428 Deferred income (Note 8)1,339 1,409 Long-term borrowings (Note 10)19,711 20,320 Insurance liabilities and annuity benefits (Note 12)39,624 36,845 Non-current compensation and benefits (Note 13)11,214 10,400 All other liabilities (Note 14)10,508 11,063 Liabilities of discontinued operations (Note 2)1,193 24,474 Total liabilities134,466 153,938 Preferred stock (Note 16)— 6 Common stock (Note 16)15 15 Accumulated other comprehensive income (loss) – net attributable to GE (Note 16)(6,150)(2,272)Other capital26,962 34,173 Retained earnings86,527 82,983 Less common stock held in treasury(79,976)(81,209)Total GE shareholders’ equity27,378 33,696 Noncontrolling interests1,202 1,216 Total equity28,579 34,912 Total liabilities and equity$163,045 $188,851 Assets of discontinued operations (Note 2)

December 3120242023Raw materials and work in process$7,372 $6,531 Finished goods1,459 1,209 Deferred inventory costs(a)932 544 Inventories, including deferred inventory costs$9,763 $8,284 Raw materials and work in process (a) Represents deferred labor and overhead costs on time and material service contracts and other costs of products and services for which the criteria for revenue recognition has not yet been met.

December 3120232022Raw materials and work in process$11,209 $9,191 Finished goods3,720 3,937 Deferred inventory costs(a)1,599 1,764 Inventories, including deferred inventory costs$16,528 $14,891 Raw materials and work in process (a) Represents cost deferral for shipped goods (such as components for wind turbine assemblies within our Renewable Energy segment) and labor and overhead costs on time and material service contracts (primarily originating in Power and Aerospace) and other costs for which the criteria for revenue recognition has not yet been met. 2023 FORM 10-K 54 2023 FORM 10-K 54 2023 FORM 10-K 54

SUPPLEMENTAL INFORMATION RELATED TO OPERATING LEASES202420232022Operating cash flows used for operating leases$352 $427 $456 Right-of-use assets obtained in exchange for new lease liabilities196 275 264 Weighted-average remaining lease term7.8 years7.7 years8.4 yearsWeighted-average discount rate4.6 %4.5 %4.4 %

SUPPLEMENTAL INFORMATION RELATED TO OPERATING LEASES202320222021Operating cash flows used for operating leases$659 $682 $719 Right-of-use assets obtained in exchange for new lease liabilities553 447 513 Weighted-average remaining lease term7.1 years5.7 years7.5 yearsWeighted-average discount rate4.4 %3.4 %4.2 %

Information about our Executive Officers (As of February 3, 2025) Date assumedExecutiveNamePositionAgeOfficer PositionH. Lawrence Culp, Jr.Chairman of the Board & Chief Executive Officer61October 2018Rahul GhaiSenior Vice President & Chief Financial Officer53September 2023Mohamed AliSenior Vice President & Chief Technology & Operations Officer55January 2025Christian MeisnerSenior Vice President & Chief Human Resources Officer55April 2024John R. Phillips IIISenior Vice President, General Counsel & Secretary47April 2024Russell StokesSenior Vice President & CEO, Commercial Engines & Services53September 2018Amy GowderSenior Vice President & CEO, Defense & Systems49April 2024Ricardo ProcacciSenior Vice President & CEO, Propulsion & Additive Technologies57April 2024Robert GigliettiVice President, Chief Accounting Officer, Controller and Treasurer54April 2024 Chairman of the Board & Chief Executive Officer Rahul Ghai Senior Vice President & Chief Financial Officer September 2023 Christian Meisner Senior Vice President & Chief Human Resources Officer April 2024 John R. Phillips III Senior Vice President, General Counsel & Secretary April 2024 Amy Gowder April 2024 Ricardo Procacci April 2024 Executive Officers are elected by the Board of Directors for an initial term that continues until the Board meeting immediately preceding the next annual statutory meeting of shareholders, and thereafter are elected for one-year terms or until their successors have been elected. Mr. Culp and Mr. Stokes have been Executive Officers of the Company for at least five years. Prior to joining the Company in August 2022, Mr. Ghai had been Executive Vice President and Chief Financial Officer of Otis Worldwide Corporation, an elevator and escalator manufacturing, installation and service company, since 2019 after serving as Senior Vice President and Chief Financial Officer of Harris Corporation from 2016 until 2019. 2024 FORM 10-K 77 2024 FORM 10-K 77 2024 FORM 10-K 77 Prior to becoming Chief Technology & Operations Officer in January 2025, Mr. Ali served as Senior Vice President (and prior to that, Vice President), Engineering since 2021 and in other engineering and systems leadership roles with the Company, originally joining in 1997. On November 21, 2024, Mr. Ali adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 9,815 shares of the Company’s common stock until November 13, 2026. Prior to joining the Company in October 2023, Mr. Meisner had been Chief Human Resources Officer at Kaiser Permanente, an integrated managed care consortium, since 2020 after serving as Corporate Vice President, Talent and Integration at United Technologies from 2019 until 2020 and Vice President and Chief Human Resources Officer at Otis Elevator Company from 2015 until 2019. Prior to joining the Company in October 2023, Mr. Phillips had been Deputy Counsel to the President of the United States and Legal Adviser to the National Security Council since 2022, after serving 13 years in various legal leadership roles at Boeing, including Vice President, Corporate Secretary and Assistant General Counsel from 2021 until 2022, and Vice President and Assistant General Counsel from 2016 until 2021. Prior to joining the Company in April 2022, Ms. Gowder was Chief Operating Officer at Aerojet Rocketdyne, an aerospace and defense company, since 2020, after serving 14 years at Lockheed Martin including as Vice President and General Manager from 2017 until 2020. Prior to becoming CEO, Propulsion and Additive Technologies in 2022, Mr. Procacci served as Chief Executive Officer of Avio Aero, a General Electric Company affiliate, since 2014. Prior to becoming Vice President, Chief Accounting Officer, Controller and Treasurer in 2024, Mr. Giglietti served in a number of senior finance and accounting leadership roles with the Company, including most recently as Treasurer for GE Aerospace, since July 2023, and Chief Financial Officer - GE Capital and Corporate, since January 2021, and Operational Leader for the GE separations, originally joining in 2002. The remaining information called for by this item is incorporated by reference to “Election of Directors,” “Other Governance Policies & Practices”, “Board Committees”, “Board Operations” and "Other Executive Compensation Policies & Practices" in our definitive proxy statement for our 2025 Annual Meeting of Shareholders to be held May 6, 2025, which will be filed within 120 days of the end of our fiscal year ended December 31, 2024 (the 2025 Proxy Statement).

Information about our Executive Officers (As of February 2, 2024) Date assumedExecutiveNamePositionAgeOfficer PositionH. Lawrence Culp, Jr.Chairman of the Board & Chief Executive Officer, GE;60October 2018CEO, GE AerospaceRahul GhaiSenior Vice President & Chief Financial Officer, GE52September 2023L. Kevin CoxSenior Vice President, Chief Human Resources Officer, GE60February 2019Michael J. HolstonSenior Vice President, General Counsel & Secretary, GE 61April 2018Russell StokesSenior Vice President, GE;52September 2018President & CEO, Commercial Engines and Services, GE AerospaceScott L. StrazikSenior Vice President, GE;45January 2019President & CEO, GE Vernova;Thomas S. TimkoVice President, Controller & Chief Accounting Officer, GE55September 2018 All Executive Officers are elected by the Board of Directors for an initial term that continues until the Board meeting immediately preceding the next annual statutory meeting of shareholders, and thereafter are elected for one-year terms or until their successors have been elected. Other than Mr. Ghai, the Executive Officers have been executives of General Electric Company for at least five years. Prior to joining GE in August 2022, Mr. Ghai was Executive Vice President and Chief Financial Officer of Otis Worldwide Corporation, an elevator and escalator manufacturing, installation and service company, since 2019. Prior to that, he served as Senior Vice President and Chief Financial Officer of Harris Corporation, a technology company and defense contractor, from 2016 until 2019. The remaining information called for by this item is incorporated by reference to “Election of Directors”, “Other Governance Policies & Practices”, “Board Committees”, and “Board Operations” in our definitive proxy statement for our 2024 Annual Meeting of Shareholders to be held May 7, 2024, which will be filed within 120 days of the end of our fiscal year ended December 31, 2023 (the 2024 Proxy Statement).

Sales discounts and allowances decreased $266 million in the year ended December 31, 2024, primarily due to higher payments from an increase in aircraft deliveries, partially offset by higher spare part shipments in Commercial Engines & Services. All other current liabilities and All other liabilities primarily includes employee compensation and benefits, equipment project and commercial liabilities, income taxes payable and uncertain tax positions, environmental, health and safety remediations, operating lease liabilities (see Note 6) and product warranties (see Note 24). All other current liabilities increased $60 million in the year ended December 31, 2024, primarily due to an increase in dividends payable of $211 million, an increase in other sundry liabilities at Commercial Engines and Services of $136 million, and an increase in equipment projects and other commercial liabilities of $99 million, partially offset by a decrease in employee compensation and benefits of $355 million. All other liabilities increased $620 million in the year ended December 31, 2024, primarily due to increases in uncertain and other income taxes and related liabilities of $494 million, Environmental, health and safety liabilities of $146 million and indemnity liabilities of $146 million, primarily related to GE Vernova, partially offset by a decrease in operating lease liabilities of $109 million. NOTE 15. INCOME TAXES. GE Aerospace files a consolidated U.S. federal income tax return which enables the company to use tax deductions and credits of one member of the group to reduce the tax that otherwise would have been payable by another member of the group. The effective tax rate reflects the benefit of these tax reductions in the consolidated return. Cash payments are made within the company for tax increases or reductions. . GE Aerospace files a consolidated U.S. federal income tax return which enables the company to use tax deductions and credits of one member of the group to reduce the tax that otherwise would have been payable by another member of the group. The effective tax rate reflects the benefit of these tax reductions in the consolidated return. Cash payments are made within the company for tax increases or reductions . Our businesses are subject to a wide variety of U.S. federal, state and foreign tax laws, regulations and policies. Changes to these laws or regulations may affect our tax liability, return on investments and business operations. On August 16, 2022, the U.S. enacted the Inflation Reduction Act that includes a new corporate alternative minimum tax based upon financial statement income (book minimum tax), and an excise tax on stock buybacks, among other provisions. The new book minimum tax is expected to slow but not eliminate the favorable tax impact of our deferred tax assets, resulting in higher cash tax in some years that would generate future tax credits. The impact of the book minimum tax will depend on our facts in each year and final guidance from the U.S. Department of the Treasury. The OECD (Organisation for Economic Co-operation and Development) has proposed a global minimum tax of 15% of reported profits (Pillar 2) that has been agreed upon in principle by over 140 countries. During 2023, many countries took steps to incorporate Pillar 2 model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact Pillar 2 slightly differently than the model rules and on different timelines and may adjust domestic tax incentives in response to Pillar 2. In addition, in January 2025, the United States issued an executive order announcing opposition to aspects of these rules. Accordingly, we are still evaluating the potential consequences of Pillar 2 on our longer-term financial position. During 2024, we have incurred insignificant tax expenses in connection with Pillar 2. EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES202420232022U.S. earnings (loss)$4,809 $7,195 $(249)Non-U.S. earnings (loss)2,811 3,246 1,771 Total$7,620 $10,441 $1,522 2024 FORM 10-K 63 2024 FORM 10-K 63 2024 FORM 10-K 63 PROVISION (BENEFIT) FOR INCOME TAXES202420232022CurrentU.S. Federal$310 $(588)$(117)Non-U.S.423 314 307 U.S. State48 134 (48)DeferredU.S. Federal250 622 (382)Non-U.S.59 453 493 U.S. State(128)59 (84)Total$962 $994 $169 Income taxes paid were $852 million, $994 million and $1,128 million for the years ended December 31, 2024, 2023 and 2022, respectively, including payments reported in discontinued operations. RECONCILIATION OF U.S. FEDERAL STATUTORY INCOME TAX RATE TO ACTUAL INCOME TAX RATE202420232022AmountRateAmountRateAmountRateU.S. federal statutory income tax rate$1,600 21.0 %$2,193 21.0 %$320 21.0 %State Taxes, net of federal benefit123 1.6 152 1.5 (114)(7.5)Tax on global activities including exports(a)(92)(1.2)78 0.7 (29)(1.9)U.S. business credits(b)(242)(3.2)(254)(2.4)(198)(13.0)Retained and sold ownership interests(110)(1.4)(1,215)(11.6)2 0.1 All other – net(c)(317)(4.2)40 0.3 188 12.4 (638)(8.4)(1,199)(11.5)(151)(9.9)Actual income tax rate$962 12.6 %$994 9.5 %$169 11.1 % (a)For the years ended December 31, 2024, 2023 and 2022, respectively, the tax expense (benefit) related to the negotiated tax rate in Singapore was $(136) million, $(136) million and $(112) million, and the tax expense (benefit) related to cross-border tax payments and U.S. tax on non-U.S. subsidiaries was $88 million, $121 million and $15 million. (b)Primarily the credit for energy produced from renewable sources from tax equity investments and the credit for research performed in the U.S. (c)For the years ended December 31, 2024, 2023 and 2022, respectively, included $(246) million, $35 million and $127 million for separation income tax costs (benefits) of which zero, $38 million and $66 million was due to the repatriation of previously reinvested earnings. UNRECOGNIZED TAX POSITIONS. Annually, we file over 1,700 income tax returns in over 260 global taxing jurisdictions. As a multinational with operations around the world, we are under examination in many taxing jurisdictions and in some cases engaged in litigation, including our legacy businesses. The IRS is currently auditing our consolidated U.S. income tax returns for 2016-2020. A summary and reconciliation of our unrecognized tax benefits are as follows: UNRECOGNIZED TAX BENEFITS December 31202420232022Unrecognized tax benefits$2,824 $3,399 $3,951 Portion that, if recognized, would reduce tax expense and effective tax rate(a)2,110 2,708 3,072 Accrued interest on unrecognized tax benefits609 635 614 Accrued penalties on unrecognized tax benefits14 111 111 Reasonably possible reduction to the balance of unrecognized tax benefitsin succeeding 12 months0-3000-6100-650Portion that, if recognized, would reduce tax expense and effective tax rate(a)0-2700-5500-600

(a) Primarily comprise amounts payable to airlines based on future aircraft deliveries by airframers and discounts on spare parts and repair sales at our Aerospace segment. NOTE 15. INCOME TAXES. GE files a consolidated U.S. federal income tax return that enables GE's businesses to use tax deductions and credits of one member of the group to reduce the tax that otherwise would have been payable by another member of the group. The effective tax rate reflects the benefit of these tax reductions in the consolidated return. Cash payments are made to GE's businesses for tax reductions and from GE's businesses for tax increases. Our businesses are subject to a wide variety of U.S. federal, state and foreign tax laws, regulations and policies. Changes to these laws or regulations may affect our tax liability, return on investments and business operations. On August 16, 2022, the U.S. enacted the Inflation Reduction Act that includes a new alternative minimum tax based upon financial statement income (book minimum tax), an excise tax on stock buybacks and tax incentives for energy and climate initiatives, among other provisions. The new book minimum tax is expected to slow but not eliminate the favorable tax impact of our deferred tax assets, resulting in higher cash tax in some years that would generate future tax credits. The impact of the book minimum tax will depend on our facts in each year and guidance from the U.S. Department of the Treasury. Separately, there are tax incentives in the legislation that benefit our pre-tax income without increasing tax expense. 2023 FORM 10-K 67 2023 FORM 10-K 67 2023 FORM 10-K 67 The OECD (Organisation for Economic Co-operation and Development) has proposed a global minimum tax of 15% of reported profits (Pillar 2) that has been agreed upon in principle by over 140 countries. During 2023, many countries took steps to incorporate Pillar 2 model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact Pillar 2 slightly differently than the model rules and on different timelines and may adjust domestic tax incentives in response to Pillar 2. Accordingly, we still are evaluating the potential consequences of Pillar 2 on our longer-term financial position. EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES202320222021U.S. earnings (loss)$7,037 $(908)$(3,596)Non-U.S. earnings (loss)3,154 109 (2,099)Total$10,191 $(799)$(5,695) PROVISION (BENEFIT) FOR INCOME TAXES202320222021CurrentU.S. Federal$(423)$(311)$(1,475)Non-U.S.823 733 655 U.S. State140 (52)(145)DeferredU.S. Federal49 (617)(366)Non-U.S.591 352 610 U.S. State(17)(108)(36)Total$1,162 $(3)$(757) Income taxes paid were $994 million, $1,128 million and $1,330 million for the years ended December 31, 2023, 2022 and 2021, respectively, including payments reported in discontinued operations. RECONCILIATION OF U.S. FEDERAL STATUTORY INCOME TAX RATE TO ACTUAL INCOME TAX RATE202320222021AmountRateAmountRateAmountRateU.S. federal statutory income tax rate$2,140 21.0 %$(168)21.0 %$(1,196)21.0 %Tax on global activities including exports(a)462 4.5 300 (37.6)154 (2.7)U.S. general business credits(b)(273)(2.7)(233)29.1 (175)3.1 Debt tender and related valuation allowances— — 30 (3.8)940 (16.5)Deductible stock and restructuring losses— — — — (583)10.2 Retained and sold ownership interests(1,215)(11.9)3 (0.4)45 (0.8)All other – net(c)(d)48 0.5 65 (7.9)58 (1.0)(978)(9.6)165 (20.6)439 (7.7)Actual income tax rate$1,162 11.4 %$(3)0.4 %$(757)13.3 % (a)For the year ended December 31, 2023, 2022, and 2021, respectively, the expense/(benefit) related to the negotiated tax rate in Singapore was $(136) million, $(112) million and $(83) million. (b)Primarily the credit for energy produced from renewable sources and the credit for research performed in the U.S. (c)For the year ended December 31, 2023 and 2022, included $9 million and $134 million for separation income tax costs of which $38 million and $66 million was due to the repatriation of previously reinvested earnings. (d)Included for each period, the expense or benefit for U.S. state taxes reported above in the consolidated (benefit) provision for income taxes, net of 21.0% federal effect. (d) UNRECOGNIZED TAX POSITIONS. Annually, we file over 2,300 income tax returns in over 270 global taxing jurisdictions. We are under examination or engaged in tax litigation in many of these jurisdictions. The IRS is currently auditing our consolidated U.S. income tax returns for 2016-2018. In September 2021, GE resolved its dispute with the United Kingdom tax authority, HM Revenue & Customs (HMRC) in connection with interest deductions claimed by GE Capital for the years 2004-2015. As previously disclosed, HMRC had proposed to disallow interest deductions with a potential impact of approximately $1,100 million, which included a possible assessment of tax and reduction of deferred tax assets, not including interest and penalties. As part of the settlement, GE and HMRC agreed that a portion of the interest deductions claimed were disallowed, with no fault or blame attributed to either party. The resolution concluded the dispute in its entirety without interest or penalties. The adjustments result in no current tax payment to HMRC, but a deferred tax charge of $112 million as part of discontinued operations as a result of a reduction of available tax attributes, which had previously been recorded as deferred tax assets. 2023 FORM 10-K 68 2023 FORM 10-K 68 2023 FORM 10-K 68 The balance of unrecognized tax benefits, the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next 12 months (excluding the expected decrease to the GE balance due to the announced plan to spin-off GE Vernova and for 2022 and 2021 the impact of the spin-off of GE HealthCare) were: UNRECOGNIZED TAX BENEFITS202320222021Unrecognized tax benefits$3,399 $3,951 $4,224 Portion that, if recognized, would reduce tax expense and effective tax rate(a)2,708 3,072 3,351 Accrued interest on unrecognized tax benefits635 614 597 Accrued penalties on unrecognized tax benefits111 111 146 Reasonably possible reduction to the balance of unrecognized tax benefitsin succeeding 12 months0-1000-6500-250Portion that, if recognized, would reduce tax expense and effective tax rate(a)0-1000-6000-200 Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months 0-100 0-650 0-250 0-100 0-600 0-200 (a) Some portion of such reduction may be reported as discontinued operations. UNRECOGNIZED TAX BENEFITS RECONCILIATION202320222021Balance at January 1$3,951 $4,224 $4,191 Additions for tax positions of the current year109 62 396 Additions for tax positions of prior years156 120 327 Reductions for tax positions of prior years(a)(710)(393)(585)Settlements with tax authorities(56)(8)(33)Expiration of the statute of limitations(51)(54)(71)Balance at December 31$3,399 $3,951 $4,224 (a) For 2023, reductions included $577 million related to the spin-off of GE HealthCare. We classify interest on tax deficiencies as interest expense; we classify income tax penalties as provision for income taxes. For the years ended December 31, 2023, 2022 and 2021, $28 million, $36 million and $17 million of interest expense (income), respectively, and $7 million, $(26) million and $(29) million of tax expense (income) related to penalties, respectively, were recognized in our Statement of Earnings (Loss). DEFERRED INCOME TAXES. As part of the Tax Cuts and Jobs Act of 2017 (U.S. tax reform), the U.S. has enacted a minimum tax on foreign earnings (global intangible low taxed income). We have not made an accrual for the deferred tax aspects of this provision. We also have not provided deferred taxes on cumulative net earnings of non-U.S. affiliates and associated companies of approximately $7 billion that have been reinvested indefinitely. Given U.S. tax reform, substantially all of our prior unrepatriated net earnings were subject to U.S. tax and accordingly we expect to have the ability to repatriate available non-U.S. cash without additional federal tax cost, and any foreign withholding tax on a repatriation to the U.S. may be at least partially offset by a U.S. foreign tax credit. Most of these earnings have been reinvested in active non-U.S. business operations and it is not practicable to determine the income tax liability that would be payable if such earnings were not reinvested indefinitely. We reassess reinvestment of earnings on an ongoing basis. In 2023 and 2022, in connection with the execution of the Company’s plans to prepare for the spin-off of GE Vernova and GE HealthCare, we incurred $38 million and $66 million of tax, respectively, due to repatriation of previously reinvested earnings. The total deferred tax asset as of December 31, 2023 and December 31, 2022 includes $858 million and $435 million, respectively, related to the required capitalization of research costs for U.S. tax purposes effective January 1, 2022. Included in discontinued operations as of December 31, 2022 is a deferred tax asset of $279 million related to GE HealthCare, which became a deferred asset of the separate company upon spin-off in the first quarter of 2023. In the event capitalization of research costs is adjusted through retroactive legislation effective for 2022, GE will record a tax provision benefit related to GE HealthCare research costs as a result of the benefit in a consolidated GE tax return without payment under the Tax Matters Agreement. The following table presents our net deferred tax assets and net deferred tax liabilities attributable to different tax jurisdictions or different tax paying components. DEFERRED INCOME TAXES December 3120232022Total assets$11,128 $10,626 Total liabilities(553)(625)Net deferred income tax asset (liability)$10,575 $10,001

First quarterSecond quarterThird quarterFourth quarter(Per-share amounts in dollars)20242023202420232024202320242023Total revenue$8,955 $7,836 $9,094 $8,755 $9,842 $9,302 $10,812 $9,456 Sales of equipment and services8,076 7,044 8,223 7,907 8,943 8,461 9,879 8,547 Cost of equipment and services sold5,747 4,998 5,574 5,693 6,226 5,992 6,761 6,256 Earnings (loss) from continuing operations1,744 6,709 1,322 1,256 1,695 307 1,897 1,176 Earnings (loss) from discontinued operations(178)772 (54)(1,218)147 31 (6)413 Net earnings (loss)1,565 7,481 1,268 37 1,842 338 1,891 1,588 Less net earnings (loss) attributable to noncontrolling interests27 (27)2 4 (10)(14)(8)— Net earnings (loss) attributable to the Company$1,539 $7,508 $1,266 $33 $1,852 $352 $1,899 $1,589 Per-share amounts – earnings (loss) from continuing operationsDiluted earnings (loss) per share$1.58 $5.98 $1.20 $1.09 $1.56 $0.20 $1.75 $1.08 Basic earnings (loss) per share1.59 6.02 1.21 1.10 1.57 0.20 1.77 1.09 Per-share amounts – earnings (loss) from discontinued operationsDiluted earnings (loss) per share(0.18)0.73 (0.05)(1.11)0.13 0.04 (0.01)0.37 Basic earnings (loss) per share(0.18)0.74 (0.05)(1.12)0.14 0.04 (0.01)0.37 Per-share amounts – net earnings (loss)Diluted earnings (loss) per share1.40 6.71 1.15 (0.02)1.70 0.24 1.75 1.44 Basic earnings (loss) per share1.41 6.76 1.16 (0.02)1.71 0.24 1.76 1.46 Dividends declared(a)— 0.08 0.56 0.08 0.28 0.08 0.28 0.08 Less net earnings (loss) attributable to noncontrolling interests Per-share amounts – earnings (loss) from continuing operations Per-share amounts – earnings (loss) from discontinued operations (a) Following the separation of GE Vernova, the Board of Directors declared a dividend of $0.28 per share in April 2024, which reflects our dividend as a standalone company, that was paid in April 2024. In June 2024, the Board of Directors declared a dividend of $0.28 per share that was paid in July 2024. Earnings-per-share amounts are computed independently each quarter for earnings (loss) from continuing operations, earnings (loss) from discontinued operations and net earnings (loss). As a result, the sum of each quarter’s per-share amount may not equal the total per-share amount for the respective year; and the sum of per-share amounts from continuing operations and discontinued operations may not equal the total per-share amounts for net earnings (loss) for the respective quarters.

First quarterSecond quarterThird quarterFourth quarter(Per-share amounts in dollars)20232022202320222023202220232022Total revenues$14,486 $12,675 $16,699 $14,127 $17,346 $14,470 $19,423 $16,828 Sales of equipment and services13,695 11,910 15,852 13,361 16,504 13,826 18,514 16,045 Cost of equipment and services sold10,729 9,774 12,362 10,525 12,905 11,534 14,396 12,440 Earnings (loss) from continuing operations6,221 (1,209)1,058 (1,127)161 (245)1,589 1,786 Earnings (loss) from discontinued operations1,257 101 (1,019)264 173 409 3 427 Net earnings (loss)7,478 (1,108)39 (863)335 165 1,591 2,213 Less net earnings (loss) attributable to noncontrolling interests(27)28 4 19 (14)4 — 16 Net earnings (loss) attributable to the Company$7,506 $(1,136)$35 $(882)$348 $161 $1,591 $2,197 Per-share amounts – earnings (loss) from continuing operationsDiluted earnings (loss) per share$5.56 $(1.16)$0.91 $(1.09)$0.08 $(0.29)$1.44 $1.53 Basic earnings (loss) per share5.60 (1.16)0.91 (1.09)0.08 (0.29)1.46 1.55 Per-share amounts – earnings (loss) from discontinued operationsDiluted earnings (loss) per share1.15 0.08 (0.93)0.23 0.16 0.37 — 0.37 Basic earnings (loss) per share1.15 0.08 (0.94)0.23 0.16 0.37 — 0.37 Per-share amounts – net earnings (loss)Diluted earnings (loss) per share6.71 (1.08)(0.02)(0.86)0.23 0.08 1.45 1.90 Basic earnings (loss) per share6.76 (1.08)(0.02)(0.86)0.24 0.08 1.46 1.93 Dividends declared0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 Less net earnings (loss) attributable to noncontrolling interests Per-share amounts – earnings (loss) from continuing operations Per-share amounts – earnings (loss) from discontinued operations Earnings-per-share amounts are computed independently each quarter for earnings (loss) from continuing operations, earnings (loss) from discontinued operations and net earnings (loss). As a result, the sum of each quarter’s per-share amount may not equal the total per-share amount for the respective year; and the sum of per-share amounts from continuing operations and discontinued operations may not equal the total per-share amounts for net earnings (loss) for the respective quarters. 2023 FORM 10-K 81 2023 FORM 10-K 81 2023 FORM 10-K 81

CURRENT RECEIVABLESDecember 3120242023Customer receivables$7,385 $6,397 Revenue sharing and other partner receivables(a)1,113 1,252 Non-income based tax receivables128 129 Supplier advances546 401 Receivables from disposed businesses99 121 Other sundry receivables162 534 Allowance for credit losses(106)(132)Total current receivables$9,327 $8,703 (a) Revenue sharing and other partner receivables are primarily amounts due from revenue sharing partners who participate in engine programs by developing and supplying certain engine components through the life of the program or other partners who support our production or aftermarket activities. The revenue sharing partners share in program revenue, receive a share of customer progress payments and share costs related to discounts and warranties. Sales of customer receivables. From time to time, the Company sells current or long-term receivables to third parties in response to customer-sponsored requests or programs, to facilitate sales, or for risk mitigation purposes. The Company sold current customer receivables to third parties and subsequently collected $494 million and $520 million in the years ended December 31, 2024 and 2023, respectively, related primarily to our participation in customer-sponsored supply chain finance programs. Within these programs, primarily in the Commercial Engines & Services business, the Company has no continuing involvement; fees associated with the transferred receivables are covered by the customer and cash is received at the original invoice value and due date. LONG-TERM RECEIVABLESDecember 3120242023Long-term customer receivables$122 $163 Supplier advances50 32 Sundry receivables106 158 Allowance for credit losses(85)(4)Total long-term receivables $194 $349 Long-term customer receivables

CURRENT RECEIVABLESDecember 3120232022Customer receivables$12,349 $11,803 Revenue sharing program receivables(a)1,252 1,326 Non-income based tax receivables1,140 1,146 Supplier advances891 691 Receivables from disposed businesses121 115 Other sundry receivables360 518 Allowance for credit losses(647)(768)Total current receivables$15,466 $14,831 (a) Revenue sharing program receivables in Aerospace are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties. ALLOWANCE FOR CREDIT LOSSES202320222021Balance as of January 1$768 $967 $1,055 New provisions, net of (releases)32 (14)136 Write-offs, net(161)(87)(198)Foreign exchange and other8 (98)(26)Balance as of December 31$647 $768 $967 December 3120232022Aerospace$8,010 $7,784 Renewable Energy2,907 2,415 Power4,232 4,229 Corporate318 404 Total current receivables$15,466 $14,831 Sales of customer receivables. From time to time, the Company sells current or long-term receivables to third parties in response to customer-sponsored requests or programs, to facilitate sales, or for risk mitigation purposes. The Company sold current customer receivables to third parties and subsequently collected $2,110 million and $2,052 million in the year ended December 31, 2023 and 2022, respectively, related primarily to our participation in customer-sponsored supply chain finance programs. Within these programs, primarily in Renewable Energy and Aerospace, the Company has no continuing involvement, fees associated with the transferred receivables are covered by the customer and cash is received at the original invoice due date. Included in the sales of customer receivables in the year ended December 31, 2023, was $82 million in our Gas Power business, primarily for risk mitigation purposes. LONG-TERM RECEIVABLESDecember 3120232022Long-term customer receivables(a)$479 $457 Supplier advances274 266 Non-income based tax receivables174 213 Sundry receivables373 483 Allowance for credit losses(171)(183)Total long-term receivables $1,129 $1,236 (a) The Company sold $83 million of long-term customer receivables to third parties for the year ended December 31, 2022, primarily in our Gas Power business for risk mitigation purposes.

3-15 5-15 5 13 (a) Balance includes payments made to our customers, primarily within our Commercial Engines & Services segment. Intangible assets decreased $385 million in 2024, primarily as a result of amortization. Consolidated amortization expense was $350 million, $382 million and $338 million for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows: ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION20252026202720282029Estimated annual pre-tax amortization$348 $343 $329 $322 $323 During 2024, we recorded additions to intangible assets subject to amortization of $136 million with a weighted-average amortizable period of 6.38 years, including capitalized software of $118 million, with a weighted-average amortizable period of 5 years.

3-23 5-15 3-10 3-25 (a) Balance includes payments made to our customers, primarily within our Aerospace business. December 3120232022Aerospace$4,518 $4,748 Renewable Energy149 183 Power858 958 Corporate169 216 Total other intangible assets, net$5,695 $6,105 Intangible assets decreased $410 million in 2023, primarily as a result of amortization, partially offset by the acquisition of capitalized software and customer-related intangibles mainly at Aerospace and Power of $191 million. Consolidated amortization expense was $606 million, $1,338 million and $738 million for the years ended December 31, 2023, 2022 and 2021, respectively. In the first quarter of 2022, we signed a non-binding memorandum of understanding for GE Steam Power to sell a portion of its business to EDF, which resulted in a reclassification of that business to held for sale. As a result, we recognized a non-cash pre-tax impairment charge of $765 million related to intangible assets at our remaining Steam business within our Power segment. We determined the fair value of these intangible assets using an income approach. This charge was recorded by Corporate in Selling, general, and administrative expenses in our Statement of Earnings (Loss). Selling, general, and administrative expenses Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows: ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION20242025202620272028Estimated annual pre-tax amortization$597 $559 $534 $495 $483 During 2023, we recorded additions to intangible assets subject to amortization of $236 million with a weighted-average amortizable period of 9.6 years, including capitalized software of $122 million, with a weighted-average amortizable period of 6.6 years.

Future policy benefit reserves Investment contracts Other Total The following tables summarize balances of and changes in future policy benefit reserves. December 31, 2024December 31, 2023Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,063 $— $4,803 $4,059 $— $4,828 Beginning balance at locked-in discount rate3,745 — 4,773 3,958 — 5,210 Effect of changes in cash flow assumptions465 — (1)(4)— (77)Effect of actual variances from expected experience(26)— 8 (22)— (300)Adjusted beginning of year balance4,184 — 4,780 3,932 — 4,833 Interest accrual 209 — 177 207 — 192 Net premiums collected(403)— (309)(394)— (315)Effect of foreign currency— — (234)— — 64 Ending balance at locked-in discount rate3,991 — 4,415 3,745 — 4,773 Effect of changes in discount rate assumptions154 — (97)318 — 30 Balance, end of year$4,144 $— $4,318 $4,063 $— $4,803 Present value of expected future policy benefitsBalance, beginning of year$30,895 $9,357 $5,921 $28,316 $8,860 $5,868 Beginning balance at locked-in discount rate27,144 8,561 5,847 27,026 8,790 6,247 Effect of changes in cash flow assumptions238 — 24 (45)(16)49 Effect of actual variances from expected experience25 (36)(1)(13)19 (241)Adjusted beginning of year balance27,406 8,525 5,870 26,968 8,793 6,055 Interest accrual1,485 441 218 1,454 454 232 Benefit payments(1,443)(664)(430)(1,278)(687)(508)Effect of foreign currency— — (246)— — 67 Ending balance at locked-in discount rate27,448 8,301 5,411 27,144 8,561 5,847 Effect of changes in discount rate assumptions1,371 125 (76)3,752 797 74 Balance, end of year$28,820 $8,426 $5,336 $30,895 $9,357 $5,921 Net future policy benefit reserves$24,675 $8,426 $1,018 $26,832 $9,357 $1,117 Less: Reinsurance recoverables, net of allowance for credit losses(169)— (32)(166)— (33)Net future policy benefit reserves, after reinsurance recoverables$24,507 $8,426 $985 $26,666 $9,357 $1,084 Weighted-average duration of liability (years)(a)11.710.35.312.811.35.3Weighted-average interest accretion rate5.6%5.4%5.1%5.5%5.4%5.0%Current discount rate5.6%5.5%5.1%4.9%4.8%4.7%Gross premiums or assessments recognized during period$479 $— $353 $496 $— $363 Expected future gross premiums, undiscounted7,548 — 11,343 7,379 — 12,388 Expected future gross premiums, discounted(a)4,745 — 5,205 4,895 — 5,800 Expected future benefit payments, undiscounted62,001 18,589 10,336 63,126 19,291 11,202 Expected future benefit payments, discounted(a)28,820 8,426 5,336 30,895 9,357 5,921 (a) Determined using the current discount rate as of December 31, 2024 and 2023. Our 2024 and 2023 annual reviews of future policy benefit reserves cash flow assumptions resulted in immaterial charges to net earnings, indicating claims experience continues to develop consistently with our models. 56 2024 FORM 10-K 56 2024 FORM 10-K 56 2024 FORM 10-K Included in Insurance losses and annuity benefits in our Statement of Earnings (Loss) for the years ended December 31, 2024 and 2023 are favorable and unfavorable pre-tax adjustments of $196 million and $(155) million, respectively, from updating the net premium ratio (i.e., the percentage of projected gross premiums required to cover expected policy benefits and related expenses) after updating for actual historical experience each quarter and updating of future cash flow assumptions. Included in these amounts for the years ended December 31, 2024 and 2023, are unfavorable adjustments of $109 million and $335 million, respectively, due to insufficient gross premiums (i.e., net premium ratio exceeded 100%), related to certain cohorts in our long-term care and life insurance portfolios. These adjustments are primarily attributable to increases in the net premium ratio as a result of updating future cash flow assumptions on cohorts where the beginning of the period net premium ratio exceeded 100%. As of December 31, 2024 and 2023, policyholders account balances totaled $1,574 million and $1,725 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the years ended December 31, 2024 and 2023 are primarily attributed to surrenders, withdrawals, and benefit payments of $432 million and $489 million, partially offset by net additions from separate accounts and interest credited of $276 million and $245 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both December 31, 2024 and 2023. Reinsurance recoveries are recorded as a reduction of Insurance losses, annuity benefits and other costs in our Statement of Earnings (Loss) and amounted to $104 million, $108 million and $321 million for the years ended December 31, 2024, 2023 and 2022, respectively. Reinsurance recoverables, net of allowances of insignificant amounts, are included in non-current All other assets in our Statement of Financial Position, and amounted to $216 million and $213 million as of December 31, 2024 and 2023, respectively. Statutory accounting practices, not GAAP, determine the required statutory capital levels of our insurance legal entities. Statutory accounting practices are set forth by the National Association of Insurance Commissioners as well as state laws, regulation and general administrative rules and differ in certain respects from GAAP. We annually perform statutory asset adequacy testing, the results of which may affect the amount or timing of capital contributions from GE Aerospace to the insurance legal entities. Following approval of a statutory permitted accounting practice in 2018 by our primary regulator, the Kansas Insurance Department, we have since provided a total of $15,035 million of capital contributions to our run-off insurance subsidiaries, including the final contribution of $1,820 million in the first quarter of 2024. GE Aerospace is a party to capital maintenance agreements with its run-off insurance subsidiaries under which GE Aerospace is required to maintain their statutory capital levels at 300% of their year-end Authorized Control Level risk-based capital requirements as defined from time to time by the NAIC. In June 2024, we signed an agreement to exit our Canadian life and health insurance portfolio, which had reserves of $213 million at December 31, 2024, via an assumption reinsurance transaction. We received regulatory approval in December 2024 and expect the transaction to close in the first quarter of 2025. See Notes 1, 3 and 9 for further information related to our run-off insurance operations.

Gross premiums (a) Determined using the current discount rate as of December 31, 2023 and 2022. The following table provides the weighted-average durations of and weighted-average interest rates for the liability for future policy benefits. 20232022Long-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeDuration (years)(a)12.811.35.313.010.75.0Interest accretion rate5.5%5.4%5.0%5.5%5.4%4.9%Current discount rate4.9%4.8%4.7%5.6%5.5%5.4% Duration (years)(a) (a) Determined using the current discount rate as of December 31, 2023 and 2022. Our 2023 annual review of future policy benefit reserves cash flow assumptions resulted in an immaterial charge to net earnings, indicating claims experience continues to develop consistently with our models. Our 2022 annual review resulted in changes to our assumptions principally related to higher near-term mortality related to COVID-19. Included in Insurance losses, annuity benefits and other costs in our Statement of Earnings (Loss) for the years ended December 31, 2023 and 2022 are unfavorable and favorable pre-tax adjustments of $(155) million and $404 million, respectively, from updating the net premium ratio (i.e., the percentage of projected gross premiums required to cover expected policy benefits and related expenses) after updating for actual historical experience each quarter and updating of future cash flow assumptions. Included in these amounts for the years ended December 31, 2023 and 2022, are unfavorable adjustments of $335 million and $190 million, respectively, due to insufficient gross premiums (i.e., net premium ratio exceeded 100%), related to certain cohorts in our long-term care and life insurance portfolios. These adjustments are primarily attributable to increases in the net premium ratio as a result of updating future cash flow assumptions on cohorts where the beginning of the period net premium ratio exceeded 100%. At December 31, 2023 and 2022, policyholders account balances totaled $1,725 million and $1,964 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the years ended December 31, 2023 and 2022 are primarily attributed to surrenders, withdrawals, and benefit payments of $489 million and $441 million, partially offset by net additions from separate accounts and interest credited of $245 million and $271 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both December 31, 2023 and 2022. Reinsurance recoveries are recorded as a reduction of Insurance losses, annuity benefits and other costs in our Statement of Earnings (Loss) and amounted to $108 million, $321 million and $351 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance recoverables, net of allowances of insignificant amounts, are included in non-current All other assets in our Statement of Financial Position, and amounted to $213 million and $255 million at December 31, 2023 and 2022, respectively. Statutory accounting practices, not GAAP, determine the required statutory capital levels of our insurance legal entities. Statutory accounting practices are set forth by the National Association of Insurance Commissioners (NAIC) as well as state laws, regulation and general administrative rules and differ in certain respects from GAAP. We annually perform statutory asset adequacy testing, the results of which may affect the amount or timing of capital contributions from GE to the insurance legal entities. Following approval of a statutory permitted accounting practice in 2018 by our primary regulator, the Kansas Insurance Department (KID), we provided a total of $13,215 million of capital contributions to our run-off insurance subsidiaries, including $1,815 million in the first quarter of 2023. In accordance with the terms of the 2018 statutory permitted accounting practice, we expect to provide the final capital contribution of up to $1,820 million in the first quarter of 2024, pending completion of our December 31, 2023 statutory reporting process, which includes asset adequacy testing, subject to ongoing monitoring by KID. GE is a party to capital maintenance agreements with its run-off insurance subsidiaries under which GE is required to maintain their statutory capital levels at 300% of their year-end Authorized Control Level risk-based capital requirements as defined from time to time by the NAIC. See Notes 1, 3 and 9 for further information related to our run-off insurance operations. 2023 FORM 10-K 60 2023 FORM 10-K 60 2023 FORM 10-K 60

(a)Primarily included net unrealized gains (losses) of $(29) million and $134 million in Other comprehensive income for the years ended December 31, 2024 and 2023, respectively. (b)Included $491 million of U.S. corporate debt securities and $600 million of Mortgage and asset-backed debt securities for the year ended December 31, 2024. Included $379 million of U.S. corporate debt securities and $177 million of Mortgage and asset-backed debt securities for the year ended December 31, 2023. (c)Transfers out of Level 3 during the year ended December 31, 2024, related to increases in the observability of external information used in determining fair value. These transfers were in our run-off insurance operations and primarily included certain investments in private placement U.S. and non-U.S. corporate debt securities. The majority of these Level 3 securities are fair valued using non-binding broker quotes or other third-party sources that utilize a number of different unobservable inputs not subject to meaningful aggregation. NOTE 22. FINANCIAL INSTRUMENTS. The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2. The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2. December 31, 2024December 31, 2023Carryingamount(net)Estimatedfair valueCarryingamount(net)Estimatedfair valueAssetsLoans and other receivables$2,261 $1,981 $2,110 $2,055 LiabilitiesBorrowings (Note 10)19,273 18,805 20,525 20,218 Investment contracts(a)1,375 1,432 1,535 1,616 (a) Primarily related to our run-off insurance operations. See Note 12 for further information. Assets and liabilities that are reflected in the accompanying financial statements at fair value are not included in the above disclosures; such items include cash and cash equivalents, investment securities (Note 3) and derivative financial instruments below. DERIVATIVES AND HEDGING. Our policy requires that derivatives are used solely for managing risks and not for speculative purposes. We use derivatives to manage risks related to foreign currency exchange (including foreign equity investments), interest rates and commodity prices. 70 2024 FORM 10-K 70 2024 FORM 10-K 70 2024 FORM 10-K We use currency exchange contracts (including cross-currency swaps) for net investment hedges to hedge investments in our foreign operations, or for cash flow hedges primarily to reduce or eliminate the effects of foreign exchange rate changes. Gains and losses on derivatives used in qualified hedges are initially recognized in our Statement of Other Comprehensive Income (Loss) except for interest on cross-currency swaps. For cross-currency swaps, we recognize the periodic interest settlements within Interest and other financial charges in the Statement of Earnings (Loss), and the cash flows associated with these periodic interest settlements are classified as operating activities in the Statement of Cash Flows. Settlements from termination of all qualified hedges are classified in the Statement of Cash Flows following the nature of the hedged items (e.g., investing activities for derivatives used to hedge investments in our foreign operations). We also use derivatives for economic hedges when we have exposures to currency exchange risk for which we are unable to meet the requirements for hedge accounting or when changes in the carrying amount of the hedged item are already recorded in earnings in the same period as the derivative making hedge accounting unnecessary. Even though the derivative is an effective economic hedge, there may be a net effect on earnings in each period due to differences in the timing of earnings recognition between the derivative and the hedged item. FAIR VALUE OF DERIVATIVESDecember 31, 2024December 31, 2023Gross NotionalAll other current assetsAll other current liabilitiesGross NotionalAll other current assetsAll other current liabilitiesQualifying currency exchange contracts(a)$2,289 $44 $40 $1,613 $26 $22 Non-qualifying currency exchange contracts and other(b)6,759 199 91 16,277 245 56 Gross derivatives$9,047 $243 $131 $17,890 $271 $78 Netting and credit adjustments$(55)$(54)$(28)$(26)Net derivatives recognized in statement of financial position$188 $77 $243 $53 All other current assets All other current liabilities All other current assets All other current liabilities (a) Gains (losses) on interest settlements related to cross-currency swaps included in our Statement of Earnings (Loss) are $2 million and $0 million for the years ended December 31, 2024 and 2023, respectively. (b) Gains (losses) included in our Statement of Earnings (Loss) are $105 million and $136 million for the years ended December 31, 2024 and 2023, respectively, primarily in SG&A, driven by hedges of deferred incentive compensation and foreign exchange fluctuation. These amounts are offset by the remeasurement of the underlying exposure through earnings.

(a)Primarily included net unrealized gains (losses) of $134 million and $(994) million in Other comprehensive income for the years ended December 31, 2023 and 2022, respectively. (b)Included $379 million of U.S. corporate debt securities and $177 million of Mortgage and asset-backed debt securities for the year ended December 31, 2023. Included $508 million of U.S. corporate debt securities and $302 million of Mortgage and asset-backed debt securities for the year ended December 31, 2022. The majority of these Level 3 securities are fair valued using non-binding broker quotes or other third-party sources that utilize a number of different unobservable inputs not subject to meaningful aggregation. NOTE 22. FINANCIAL INSTRUMENTS. The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2. December 31, 2023December 31, 2022Carryingamount(net)Estimatedfair valueCarryingamount(net)Estimatedfair valueAssetsLoans and other receivables$2,438 $2,379 $2,557 $2,418 LiabilitiesBorrowings (Note 10)$20,965 $20,689 $24,059 $22,849 Investment contracts (Note 12)1,535 1,616 1,708 1,758 2023 FORM 10-K 74 2023 FORM 10-K 74 2023 FORM 10-K 74 Assets and liabilities that are reflected in the accompanying financial statements at fair value are not included in the above disclosures; such items include cash and equivalents, investment securities and derivative financial instruments. DERIVATIVES AND HEDGING. Our policy requires that derivatives are used solely for managing risks and not for speculative purposes. We use derivatives to manage currency risks related to foreign exchange, and interest rate and currency risk between financial assets and liabilities, and certain equity investments and commodity prices. We use cash flow hedges primarily to reduce or eliminate the effects of foreign exchange rate changes, net investment hedges to hedge investments in foreign operations as well as fair value hedges to hedge the effects of interest rate and currency changes on debt it has issued. We also use derivatives not designated as hedges from an accounting standpoint (and therefore we do not apply hedge accounting to the relationship) but otherwise serve the same economic purpose as other hedging arrangements. We use economic hedges when we have exposures to currency exchange risk for which we are unable to meet the requirements for hedge accounting or when changes in the carrying amount of the hedged item are already recorded in earnings in the same period as the derivative making hedge accounting unnecessary. Even though the derivative is an effective economic hedge, there may be a net effect on earnings in each period due to differences in the timing of earnings recognition between the derivative and the hedged item. FAIR VALUE OF DERIVATIVESDecember 31, 2023December 31, 2022Gross NotionalAll other current assetsAll other current liabilitiesGross NotionalAll other current assetsAll other current liabilitiesQualifying currency exchange contracts$6,648 $156 $91 $5,112 $132 $146 Non-qualifying currency exchange contracts and other50,563 794 580 52,786 1,143 1,095 Gross derivatives$57,211 $950 $671 $57,898 $1,275 $1,241 Netting and credit adjustments$(512)$(510)$(821)$(820)Net derivatives in statement of financial position$437 $161 $454 $420 All other current assets All other current liabilities All other current assets All other current liabilities FAIR VALUE HEDGES. As of December 31, 2023, all fair value hedges were terminated. Gains (losses) associated with the terminated hedging relationships will continue to amortize into interest expense until the hedged borrowings mature. The cumulative amount of hedging adjustments of $1,162 million (all on discontinued hedging relationships) was included in the carrying amount of the previously hedged liability of $9,253 million. At December 31, 2022, the cumulative amount of hedging adjustments of $1,240 million (all on discontinued hedging relationships) was included in the carrying amount of the previously hedged liability of $9,933 million. The cumulative amount of hedging adjustments was primarily recorded in long-term borrowings. long-term borrowings long-term borrowings CASH FLOW HEDGES AND NET INVESTMENT HEDGESGain (loss) recognized in AOCI for the year ended December 31202320222021Cash flow hedges(a)$83 $(242)$(140)Net investment hedges(b)(153)341 487 (a) Primarily related to currency exchange contracts. (b) The carrying value of foreign currency debt designated as net investment hedges was $4,726 million and $3,329 million as of December 31, 2023 and 2022, respectively. The total reclassified from AOCI into earnings was zero, zero and $(87) million for the years ended December 31, 2023, 2022 and 2021, respectively. Changes in the fair value of cash flow hedges are recorded in AOCI and recorded in earnings in the period in which the hedged transaction occurs. The total amount in AOCI related to cash flow hedges of forecasted transactions was a $2 million loss as of December 31, 2023. We expect to reclassify $6 million of loss to earnings in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. As of December 31, 2023, the maximum term of derivative instruments that hedge forecasted transactions was approximately 12 years. The table below presents the effects of hedges and resulting gains (losses) of our derivative financial instruments in the Statement of Earnings (Loss): 20232022RevenuesInterest ExpenseSG&A(b)Other Income(a)RevenuesDebtextinguishmentcostsInterest ExpenseSG&A(b)Other Income(a)$67,954 $1,118 $9,195 $57,521 $58,100 $465 $1,477 $9,173 $45,444 Cash flow hedges$(1)$(10)$1 $39 $(23)$(20)$(2)$(100)Fair value hedges$— $(16)Non-hedging derivatives$— $— $130 $(167)$7 $159 $(4)$(269)$(485) (a) Amounts are inclusive of cost of sales and other income (loss). (b) SG&A was primarily driven by hedges of deferred incentive compensation, and hedges of remeasurement of monetary assets and liabilities. 2023 FORM 10-K 75 2023 FORM 10-K 75 2023 FORM 10-K 75 COUNTERPARTY CREDIT RISK. Our exposures to counterparties were $374 million and $306 million at December 31, 2023 and December 31, 2022, respectively. Counterparties' exposures to our derivative liability were $120 million and $365 million at December 31, 2023 and December 31, 2022, respectively. NOTE 23. VARIABLE INTEREST ENTITIES. In our Statement of Financial Position, we have assets of $117 million and $401 million and liabilities of $203 million and $206 million at December 31, 2023 and December 31, 2022, respectively, in consolidated Variable Interest Entities (VIEs). These entities were created to help our customers facilitate or finance the purchase of GE equipment and services and have no features that could expose us to losses that would significantly exceed the difference between the consolidated assets and liabilities. Our investments in unconsolidated VIEs were $6,657 million and $5,917 million at December 31, 2023 and December 31, 2022, respectively. Of these investments, $1,272 million and $1,481 million were owned by Energy Financial Services (EFS), comprising equity method investments, primarily renewable energy tax equity investments, at December 31, 2023 and December 31, 2022, respectively. In addition, $5,151 million and $4,219 million were owned by our run-off insurance operations, primarily comprising equity method investments at December 31, 2023 and December 31, 2022, respectively. Our maximum exposure to loss in respect of unconsolidated VIEs is increased by our commitments to make additional investments in these entities described in Note 24.

RESTRUCTURING AND OTHER CHARGES. This table is inclusive of all restructuring charges in our segments and at Corporate & Other. Separately, in our reported segment results, significant, higher-cost restructuring programs, primarily related to the separations, are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate & Other. This table is inclusive of all restructuring charges in our segments and at Corporate & Other. Separately, in our reported segment results, significant, higher-cost restructuring programs, primarily related to the separations, are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate & Other. RESTRUCTURING AND OTHER CHARGES202420232022Workforce reductions$107 $166 $162 Plant closures & associated costs and other asset write-downs74 84 368 Acquisition/disposition net charges and other366 10 — $546 $260 $530 Cost of equipment/services$27 $10 $15 Selling, general and administrative expenses519 250 516 Total restructuring and other charges(a)$546 $260 $530 Restructuring and other cash expenditures(b)$507 $204 $116 Acquisition/disposition net charges and other (a) In the second quarter of 2024, included income of $81 million, as a result of a change in estimate of the post-employment severance benefit reserve in connection with the separation of GE Vernova. (b) Primarily related to the final settlement payment of $363 million for the Sjunde AP-Fonden shareholder lawsuit in the fourth quarter of 2024 and employee severance payments. The restructuring liability as of December 31, 2024, 2023 and 2022 was $242 million, $311 million and $273 million, respectively. Restructuring and other charges for new and ongoing programs primarily included exit activities announced in the fourth 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, in 2024, restructuring and other charges included costs of $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit. See Note 24 for additional information. 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 expect to 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 and transaction costs to transition to a stand-alone public company. These costs are presented as separation costs in our Statement of Earnings (Loss). For the years ended December 31, 2024, 2023 and 2022, we incurred pre-tax separation expense of $492 million, $692 million and $625 million, and paid $800 million, $820 million and $134 million in cash, respectively. We recognized $349 million, $113 million and $4 million of net tax benefits for the years ended December 31, 2024, 2023 and 2022, respectively, including deferred tax benefits associated with state tax attributes and the tax benefit of losses on separation-related entity restructuring. The pre-tax separation costs specifically identifiable to GE HealthCare and GE Vernova are now reflected in discontinued operations. For the year ended December 31, 2024, we recognized $15 million in pre-tax income, $3 million of net tax expense, and spent $16 million in cash, respectively, related to GE HealthCare. In addition, we recognized pre-tax separation costs of $96 million, recognized $20 million of net tax benefit and spent $199 million in cash, respectively, related to GE Vernova. For the year ended December 31, 2023, we incurred $22 million in pre-tax costs, recognized $5 million of net tax benefit and spent $182 million in cash, respectively, related to GE HealthCare. Related to GE Vernova, we incurred $286 million pre-tax separation costs, recognized $86 million of net tax benefit and spent $239 million in cash for the year ended December 31, 2023. For the year ended December 31, 2022, we incurred $258 million in pre-tax costs, recognized $54 million of net tax benefit and spent $103 million in cash, respectively, related to GE HealthCare. Related to GE Vernova, we incurred $90 million pre-tax separation costs, recognized $19 million of net tax benefit and spent $24 million in cash for the year ended December 31, 2022. NOTE 21. FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis include debt securities mainly supporting obligations to annuitants and policyholders in our run-off insurance operations, our equity interests in AerCap and derivatives. Our assets and liabilities measured at fair value on a recurring basis include debt securities mainly supporting obligations to annuitants and policyholders in our run-off insurance operations, our equity interests in AerCap and derivatives. 2024 FORM 10-K 69 2024 FORM 10-K 69 2024 FORM 10-K 69 ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASISLevel 1Level 2Level 3(a)Nettingadjustment(b)Net balance(c)December 312024202320242023202420232024202320242023Investment securities$14 $4,767 $33,635 $32,098 $5,074 $6,841 $— $— $38,723 $43,706 Derivatives— — 243 270 — — (55)(28)188 243 Total assets$14 $4,767 $33,878 $32,368 $5,074 $6,841 $(55)$(28)$38,911 $43,949 Derivatives$— $— $131 $78 $— $— $(54)$(26)$77 $53 Other(d)— — 367 311 — — — — 367 311 Total liabilities$— $— $498 $389 $— $— $(54)$(26)$444 $364 (a)Included $1,627 million of U.S. corporate debt securities, $1,935 million of Mortgage and asset-backed debt securities, and the $982 million AerCap note at December 31, 2024. Included $3,873 million of U.S. corporate debt securities, $1,491 million of Mortgage and asset-backed debt securities, and the $944 million AerCap note at December 31, 2023. (b)The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. (c)Included investment securities in our run-off insurance operations of $37,352 million and $37,592 million as of December 31, 2024 and 2023, respectively, which are Level 2 and 3. See Notes 3 and 22 for further information on the composition of our investment securities and derivative portfolios. (d)Primarily represents the liabilities associated with certain of our deferred incentive compensation plans. LEVEL 3 INSTRUMENTS. The majority of our Level 3 balances comprised debt securities classified as available-for-sale with changes in fair value recorded in Other comprehensive income. Balance atJanuary 1Net realized/unrealized gains(losses)(a)Purchases(b)Sales & SettlementsTransfersintoLevel 3Transfersout ofLevel 3(c)Balance atDecember 312024Investment securities$6,841 $20 $1,505 $(768)$12 $(2,536)$5,074 2023Investment securities$6,421 $195 $617 $(398)$37 $(30)$6,841

(a) Includes actuarial determined post-employment severance benefits reserve of $324 million, $348 million and $321 million as of December 31, 2023, 2022 and 2021, respectively. In 2023 and 2022, restructuring primarily included exit activities related to the restructuring programs announced in 2022, reflecting lower Corporate shared-service and footprint needs as a result of the GE HealthCare spin-off, and exit activities across our businesses planned to be part of GE Vernova, primarily reflecting the selectivity strategy to operate in fewer markets and to simplify and standardize product variants at Renewable Energy. This plan was expanded during the third quarter of 2023 to include the consolidation of the global footprint and related resources at our Power business to better serve our customers. In 2021, restructuring primarily included exit activities at our Power business related to our new coal build wind-down actions, which included the exit of certain product lines, closing certain manufacturing and office facilities and other workforce reduction programs. SEPARATION COSTS. In November 2021, the company announced its plan to form three industry-leading, global public companies focused on the growth sectors of aviation, healthcare, and energy. As a result of this plan, we have incurred and expect to continue to incur separation, transition, and operational costs, which will depend on specifics of the transactions. For the year ended December 31, 2023, we incurred pre-tax separation expense of $978 million and paid $1,059 million in cash, primarily related to employee costs, professional fees, costs to establish certain stand-alone functions and information technology systems, and other transformation and transaction costs to transition to stand-alone public companies. These costs are presented as separation costs in our consolidated Statement of Earnings (Loss). In addition, we recognized $197 million of net tax benefit, primarily associated with planned legal entity separation and tax on changes to indefinite reinvestment of foreign earnings. 2023 FORM 10-K 73 2023 FORM 10-K 73 2023 FORM 10-K 73 For the year ended December 31, 2022, we incurred pre-tax separation costs of $715 million, and paid $158 million in cash, and recognized $16 million of net tax benefit, related to separation activities. As discussed in Note 2, GE completed the separation of its HealthCare business into a separate, independent publicly traded company, GE HealthCare Technologies Inc. As a result, pre-tax separation costs specifically identifiable to GE HealthCare are now reflected in discontinued operations. We incurred $22 million and $258 million in pre-tax costs, recognized $5 million and $54 million of tax benefit and spent $182 million and $103 million in cash related to GE HealthCare for the year ended December 31, 2023 and 2022, respectively. NOTE 21. FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis include debt securities mainly supporting obligations to annuitants and policyholders in our run-off insurance operations, our equity interests in GE HealthCare and AerCap and derivatives. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASISLevel 1Level 2Level 3(a)Nettingadjustment(d)Net balance(b)December 312023202220232022202320222023202220232022Investment securities$4,767 $6,732 $32,098 $30,483 $6,841 $6,421 $— $— $43,706 $43,636 Derivatives— — 943 1,274 6 1 (512)(821)437 454 Total assets$4,767 $6,732 $33,042 $31,757 $6,847 $6,421 $(512)$(821)$44,143 $44,090 Derivatives$— $— $669 $1,240 $2 $— $(510)$(820)$161 $420 Other(c)— — 428 379 — — — — 428 379 Total liabilities$— $— $1,097 $1,619 $2 $— $(510)$(820)$588 $799 (a)Included $3,873 million of U.S. corporate debt securities, $1,491 million of Mortgage and asset-backed debt securities, and the $944 million AerCap note at December 31, 2023. Included $3,548 million of U.S. corporate debt securities, $1,386 million of Mortgage and asset-backed debt securities, and the $900 million AerCap note at December 31, 2022. (b)Included investment securities in our run-off Insurance operations of $37,592 million and $35,503 million as of December 31, 2023 and 2022, respectively, which are Level 2 and 3. See Notes 3 and 22 for further information on the composition of our investment securities and derivative portfolios. (c)Primarily represents the liabilities associated with certain of our deferred incentive compensation plans. (d)The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. (d) LEVEL 3 INSTRUMENTS. The majority of our Level 3 balances comprised debt securities classified as available-for-sale with changes in fair value recorded in Other comprehensive income. Balance atJanuary 1Net realized/unrealized gains(losses)(a)Purchases(b)Sales & SettlementsTransfersintoLevel 3Transfersout ofLevel 3Balance atDecember 312023Investment securities$6,421 $195 $617 $(398)$37 $(30)$6,841 2022Investment securities$7,222 $(1,002)$973 $(628)$57 $(201)$6,421

(a) Included decreases of $5,795 million and $144 million, substantially all in Other capital related to our redemption of GE preferred stock in the years ended December 31, 2023 and 2022, respectively. (b) Included a $5,300 million decrease in Retained earnings reflecting a pro-rata distribution of approximately 80.1% of the shares of GE HealthCare on January 3, 2023. Included a $11,375 million decrease in Retained earnings reflecting a distribution of all the shares of GE Vernova on April 2, 2024. (c) Included a reclassification of $1,007 million of noncontrolling interests attributable to GE Vernova to Retained earnings as a result of the separation on April 2, 2024. 2024 FORM 10-K 41 2024 FORM 10-K 41 2024 FORM 10-K 41

(a) Included decreases of $5,795 million and $144 million, substantially all in Other capital related to our redemption of GE preferred stock in the years ended December 31, 2023 and 2022, respectively. Included a $687 million increase in all Other capital related to the change in par value of issued common stock from $0.06 to $0.01 in the year ended December 31, 2021. (b) Included a $5,300 million decrease in Retained earnings reflecting a pro-rata distribution of approximately 80.1% of the shares of GE HealthCare on January 3, 2023. 2023 FORM 10-K 44 2023 FORM 10-K 44 2023 FORM 10-K 44

Other capital Retained earnings Less common stock held in treasury Total GE shareholders’ equity

202420232022Investment in GE HealthCare realized and unrealized gain (loss)$480 $5,639 $— Investment in and note with AerCap realized and unrealized gain (loss)38 129 (865)Investment in Baker Hughes realized and unrealized gain (loss)— 10 912 Gains (losses) on retained and sold ownership interests$518 $5,778 $47 Other net interest and investment income (loss)(a)813 637 466 Licensing and royalty income210 148 115 Equity method income173 169 70 Purchases and sales of business interests(b)399 (105)38 Other items151 92 74 Total other income (loss)$2,264 $6,718 $811 Total other income (loss) (a) Included interest income associated with customer advances of $132 million, $127 million and $129 million in 2024, 2023 and 2022, respectively. See Note 8 for further information. (b) Included a pre-tax gain of $347 million related to the sale of our non-core licensing business in Corporate in 2024. During the year ended December 31, 2024, we received total proceeds of $5,242 million from the disposition of 61.6 million shares of GE HealthCare and have now fully monetized our position. 68 2024 FORM 10-K 68 2024 FORM 10-K 68 2024 FORM 10-K

202320222021Investment in GE HealthCare realized and unrealized gain (loss)$5,639 $— $— Investment in and note with AerCap realized and unrealized gain (loss)129 (865)711 Investment in Baker Hughes realized and unrealized gain (loss)10 912 938 Gains (losses) on retained and sold ownership interests$5,778 $47 $1,649 Other net interest and investment income (loss)(a)739 474 585 Licensing and royalty income244 185 175 Equity method income237 220 (123)Purchases and sales of business interests(b)104 60 (52)Other items28 185 462 Total other income (loss)$7,129 $1,172 $2,696 Total other income (loss) Total other income (loss) Total other income (loss) (a) Included interest income associated with customer advances of $156 million, $162 million and $167 million in 2023, 2022 and 2021, respectively. See Note 8 for further information. (b) Included a pre-tax loss of $170 million related to the sale of our boiler manufacturing business in China in our Power segment in 2021. 2023 FORM 10-K 72 2023 FORM 10-K 72 2023 FORM 10-K 72 Our investment in GE HealthCare comprises 61.6 million shares (approximately 13.5% ownership interest) at December 31, 2023. During the year ended December 31, 2023, we received total proceeds of $2,192 million from the disposition of GE HealthCare shares. During the year ended December 31, 2023, we received total proceeds of $6,587 million from the sale of our remaining AerCap shares, leaving an AerCap senior note as our only remaining position. During the first quarter of 2023, we received proceeds of $216 million from the sale of Baker Hughes shares and have now fully monetized our position.

Depreciable livesOriginal CostNet Carrying ValueDecember 31(in years)2024202320242023Land and improvements8$131 $128 $129 $126 Buildings, structures and related equipment8 - 403,146 3,062 1,369 1,358 Machinery and equipment4 - 2011,533 11,160 3,851 3,876 Leasehold costs and manufacturing plant under construction1 - 101,084 989 872 727 ROU operating lease assets1,057 1,160 Property, plant and equipment - net$15,894 $15,338 $7,277 $7,246 8 - 40 4 - 20 1 - 10 ROU operating lease assets ROU operating lease assets Property, plant andequipment additionsDepreciation and amortizationDecember 31202420232022202420232022Commercial Engines & Services$431 $343 $160 $370 $356 $362 Defense & Propulsion Technologies135 145 149 150 147 144 Corporate and Other (including supply chain)353 278 265 314 294 341 Total$920 $766 $574 $834 $797 $846 52 2024 FORM 10-K 52 2024 FORM 10-K 52 2024 FORM 10-K Operating Lease Liabilities. Our current operating lease liabilities, included in All other current liabilities in our Statement of Financial Position were $283 million and $308 million, as of December 31, 2024 and 2023, respectively. Our non-current operating lease liabilities, included in All other liabilities in our Statement of Financial Position, were $822 million and $931 million, as of December 31, 2024 and 2023, respectively. Substantially all of our operating leases have remaining lease terms of 10 years or less, some of which may include options to extend. All other current liabilities All other current liabilities All other liabilities All other liabilities OPERATING LEASE EXPENSE202420232022Long-term (fixed)$326 $364 $428 Long-term (variable)111 26 13 Short-term45 115 88 Total operating lease expense$482 $506 $529 MATURITY OF LEASE LIABILITIES20252026202720282029ThereafterTotalUndiscounted lease payments$276 $239 $185 $143 $128 $398 $1,369 Less: imputed interest(247)Total lease liability as of December 31, 2024$1,122

Depreciable livesOriginal CostNet Carrying ValueDecember 31(in years)2023202220232022Land and improvements8$482 $472 $469 $461 Buildings, structures and related equipment8 - 406,340 6,024 2,852 2,703 Machinery and equipment4 - 2019,003 18,577 6,280 6,163 Leasehold costs and manufacturing plant under construction1 - 101,507 1,568 1,053 1,012 ROU operating lease assets1,840 1,854 Property, plant and equipment - net$27,332 $26,641 $12,494 $12,192 8 - 40 4 - 20 1 - 10 ROU operating lease assets ROU operating lease assets In the first quarter of 2022, we signed a non-binding memorandum of understanding for GE Steam Power to sell a portion of its business to EDF, which resulted in a reclassification of that business to held for sale. As a result, we recognized a non-cash pre-tax impairment charge of $59 million related to property, plant and equipment at our remaining Steam business within our Power segment. This charge was recorded by Corporate in Selling, general, and administrative expenses in our consolidated Statement of Earnings (Loss). Operating Lease Liabilities. Our consolidated operating lease liabilities, included in All other liabilities in our Statement of Financial Position, was $1,973 million and $2,089 million, as of December 31, 2023 and 2022, respectively. Substantially all of our operating leases have remaining lease terms of 14 years or less, some of which may include options to extend. All other liabilities All other liabilities OPERATING LEASE EXPENSE202320222021Long-term (fixed)$567 $646 $644 Long-term (variable)75 66 56 Short-term178 150 188 Total operating lease expense$820 $863 $888 MATURITY OF LEASE LIABILITIES20242025202620272028ThereafterTotalUndiscounted lease payments$564 $428 $325 $233 $165 $586 $2,302 Less: imputed interest(329)Total lease liability as of December 31, 2023$1,973

202420232022(Earnings for per-share calculation, shares in millions, per-share amounts in dollars)DilutedBasicDilutedBasicDilutedBasicEarnings (loss) from continuing operations$6,670 $6,670 $9,446 $9,449 $1,350 $1,350 Preferred stock dividends and other and accretion of preferred share repurchase(a)— — (295)(295)(285)(285)Earnings (loss) from continuing operations attributable to common shareholders 6,670 6,670 9,151 9,154 1,065 1,065 Earnings (loss) from discontinued operations (114)(114)33 33 (1,014)(1,014)Net earnings (loss) attributable to common shareholders 6,556 6,556 9,184 9,187 51 51 Shares of common stock outstanding1,085 1,085 1,089 1,089 1,096 1,096 Employee compensation-related shares (including stock options)10 — 10 — 6 — Total average equivalent shares1,094 1,085 1,099 1,089 1,101 1,096 Earnings (loss) from continuing operations$6.09 $6.15 $8.33 $8.41 $0.97 $0.97 Earnings (loss) from discontinued operations(0.10)(0.11)0.03 0.03 (0.92)(0.93)Net earnings (loss) per share5.99 6.04 8.36 8.44 0.05 0.05 Potentially dilutive securities(b)6 24 44 Preferred stock dividends and other and accretion of preferred share repurchase(a) Earnings (loss) from discontinued operations Employee compensation-related shares (including stock options)

202320222021(Earnings for per-share calculation, shares in millions, per-share amounts in dollars)DilutedBasicDilutedBasicDilutedBasicEarnings (loss) from continuing operations$9,063 $9,066 $(811)$(811)$(4,822)$(4,822)Preferred stock dividends and other and accretion of preferred share repurchase(a)(295)(295)(286)(286)(246)(246)Earnings (loss) from continuing operations attributable to common shareholders 8,769 8,772 (1,097)(1,097)(5,067)(5,067)Earnings (loss) from discontinued operations 414 414 1,151 1,151 (1,516)(1,516)Net earnings (loss) attributable to GE common shareholders 9,182 9,186 54 54 (6,583)(6,583)Shares of GE common stock outstanding1,089 1,089 1,096 1,096 1,098 1,098 Employee compensation-related shares (including stock options)10 — — — — — Total average equivalent shares1,099 1,089 1,096 1,096 1,098 1,098 Earnings (loss) from continuing operations$7.98 $8.06 $(1.00)$(1.00)$(4.62)$(4.62)Earnings (loss) from discontinued operations0.38 0.38 1.05 1.05 (1.38)(1.38)Net earnings (loss) per share8.36 8.44 0.05 0.05 (6.00)(6.00)Potentially dilutive securities(b)26 45 41 Earnings (loss) from discontinued operations Shares of GE common stock outstanding Employee compensation-related shares (including stock options)

Earnings (loss) of discontinued operations, net of taxes For the year ended December 31, 2022GE VernovaGE HealthCareBank BPH & OtherTotalTotal revenue$29,645 $18,457 $— $48,102 Cost of equipment and services sold(25,981)(11,265)— (37,246)Other income, costs and expenses(5,985)(4,842)(808)(11,636)Earnings (loss) of discontinued operations before income taxes(2,322)2,350 (808)(780)Benefit (provision) for income taxes171 (521)(32)(382)Earnings (loss) of discontinued operations, net of taxes(2,151)1,829 (841)(1,163)Gain (loss) on disposal before income taxes— 6 58 64 Benefit (provision) for income taxes— 11 139 150 Gain (loss) on disposal, net of taxes— 17 196 213 Earnings (loss) from discontinued operations, net of taxes$(2,151)$1,846 $(644)$(949)

For the year ended December 31, 2022Total revenues$18,457 $— $— $18,457 Cost of equipment and services sold(11,265)— — (11,265)Other income, costs and expenses(4,842)— (808)(5,651)Earnings (loss) of discontinued operations before income taxes2,350 — (808)1,541 Benefit (provision) for income taxes(521)— (32)(553)Earnings (loss) of discontinued operations, net of taxes1,829 — (841)988 Gain (loss) on disposal before income taxes6 (18)75 64 Benefit (provision) for income taxes11 139 — 150 Gain (loss) on disposal, net of taxes17 121 75 213 Earnings (loss) from discontinued operations, net of taxes$1,846 $121 $(765)$1,202

We facilitate voluntary supply chain finance programs with third parties, which provide participating suppliers the opportunity to sell their GE Aerospace receivables to third parties at the sole discretion of both the suppliers and the third parties. Total supplier invoices paid through these third-party programs were $3,798 million and $3,110 million for the years ended December 31, 2024 and 2023, respectively. GE Aerospace has no costs associated with this program. NOTE 12. INSURANCE LIABILITIES AND ANNUITY BENEFITS. Insurance liabilities and annuity benefits comprise substantially all obligations to annuitants and insureds in our run-off insurance operations. Our insurance operations (net of eliminations) generated revenue of $3,581 million, $3,389 million and $2,957 million, profit was $1,022 million, $332 million and $205 million and net earnings was $806 million, $260 million and $159 million, for the years ended December 31, 2024, 2023 and 2022, respectively. These operations were primarily supported by investment securities of $37,352 million and $37,592 million, limited partnerships of $4,321 million and $3,300 million, a diversified commercial mortgage loan portfolio substantially all collateralized by first liens on U.S. commercial real estate properties of $1,887 million and $1,947 million (net of allowance for credit losses of $46 million and $48 million), and residential mortgage loans of $251 million and $0 million (net of allowance for credit losses of an insignificant amount), as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the commercial mortgage loan portfolio had one delinquent loan, no non-accrual loans and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 69%, debt service coverage of 1.7, and no scheduled maturities through 2025. A summary of our insurance liabilities and annuity benefits is presented below. Insurance liabilities and annuity benefits comprise substantially all obligations to annuitants and insureds in our run-off insurance operations. Our insurance operations (net of eliminations) generated revenue of $3,581 million, $3,389 million and $2,957 million, profit was $1,022 million, $332 million and $205 million and net earnings was $806 million, $260 million and $159 million, for the years ended December 31, 2024, 2023 and 2022, respectively. These operations were primarily supported by investment securities of $37,352 million and $37,592 million, limited partnerships of $4,321 million and $3,300 million, a diversified commercial mortgage loan portfolio substantially all collateralized by first liens on U.S. commercial real estate properties of $1,887 million and $1,947 million (net of allowance for credit losses of $46 million and $48 million), and residential mortgage loans of $251 million and $0 million (net of allowance for credit losses of an insignificant amount), as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the commercial mortgage loan portfolio had one delinquent loan, no non-accrual loans and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 69%, debt service coverage of 1.7, and no scheduled maturities through 2025. A summary of our insurance liabilities and annuity benefits is presented below. 2024 FORM 10-K 55 2024 FORM 10-K 55 2024 FORM 10-K 55 December 31, 2024Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$24,675 $8,426 $1,018 $357 $34,476 Investment contracts— 719 — 621 1,340 Other— — 116 277 394 Total$24,675 $9,145 $1,134 $1,254 $36,209

December 3120232022Trade payables$10,678 $10,033 Supply chain finance programs(a)3,133 3,689 Equipment project payables(b)1,193 1,236 Non-income based tax payables403 441 Accounts payable and equipment project payables$15,408 $15,399 (a) During the fourth quarter of 2023, Renewable Energy, Power and Corporate made prepayments of $473 million, $185 million and $76 million, respectively, related to supply chain finance programs. (b) Primarily related to projects at Power and Renewable Energy. We facilitate voluntary supply chain finance programs with third parties, which provide participating suppliers the opportunity to sell their GE receivables to third parties at the sole discretion of both the suppliers and the third parties. Total supplier invoices paid through these third-party programs were $8,552 million and $6,990 million for the year ended December 31, 2023 and 2022, respectively. NOTE 12. INSURANCE LIABILITIES AND ANNUITY BENEFITS. 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. The new guidance for measuring the liability for future policy benefits and related reinsurance recoverable asset was adopted on a modified retrospective basis such that those balances were adjusted to conform to the new guidance at the January 1, 2021 transition date. Refer to the revised portions of our 2022 Form 10-K filed as Exhibit 99(a) with the Form 8-K on April 25, 2023 for more information. 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 Insurance liabilities and annuity benefits comprise substantially all obligations to annuitants and insureds in our run-off insurance operations. Our insurance operations (net of eliminations) generated revenues of $3,389 million, $2,957 million and $3,101 million, profit was $332 million, $205 million and $798 million and net earnings was $260 million, $159 million and $627 million for the years ended December 31, 2023, 2022 and 2021, respectively. These operations were primarily supported by investment securities of $37,592 million and $35,503 million, limited partnerships of $3,300 million and $2,506 million, and a diversified commercial mortgage loan portfolio substantially all collateralized by first liens on U.S. commercial real estate properties of $1,947 million and $1,975 million (net of allowance for credit losses of $48 million and $27 million), at December 31, 2023 and 2022, respectively. As of December 31, 2023, the commercial mortgage loan portfolio had one delinquent loan, no non-accrual loans and about one-third of the portfolio was held in the office sector which had a weighted average loan-to-value ratio of 68%, debt service coverage of 1.6, and no scheduled maturities through 2025. A summary of our insurance liabilities and annuity benefits is presented below: 2023 FORM 10-K 58 2023 FORM 10-K 58 2023 FORM 10-K 58 December 31, 2023Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$26,832 $9,357 $1,117 $382 $37,689 Investment contracts— 793 — 742 1,535 Other— — 116285 400 Total$26,832 $10,150 $1,233 $1,409 $39,624

Intangibles Depreciation (a)Included valuation allowances for non-U.S. loss carryforwards of $1,362 million and $1,465 million as of December 31, 2024 and 2023, respectively. The net deferred tax asset as of December 31, 2024 of $529 million relates to net operating losses that may be carried forward indefinitely. (b) Included valuation allowances for U.S. state losses and credit carryforwards of $490 million and $639 million as of December 31, 2024 and 2023, respectively. Of the $142 million of net deferred tax assets for U.S. state losses and credit carryforwards as of December 31, 2024, $33 million relates to state attributes that expire in various year ending from December 31, 2025 through December 31, 2027, $104 million relates to state attributes that expire various years ending from December 31, 2028 through December 31, 2044, and $5 million relates to state attributes that may be carried forward indefinitely. (c) Included valuation allowances related to assets other than non-U.S. loss carryforwards and U.S. state loss and credit carryforwards of $1,364 million and $1,312 million as of December 31, 2024 and 2023, respectively, related primarily to excess U.S. federal capital loss and foreign tax credit carryforwards. 2024 FORM 10-K 65 2024 FORM 10-K 65 2024 FORM 10-K 65 DEFERRED TAX ASSETS VALUATION ALLOWANCEBalance at December 31, 2021$(3,348)Additions charged to income tax expense(10)Reductions credited to income tax expense— Other adjustments(a)(1,806)Balance at December 31, 2022$(5,164)Additions charged to income tax expense— Reductions credited to income tax expense102 Other adjustments(b)1,646 Balance at December 31, 2023$(3,416)Additions charged to income tax expense(2)Reductions credited to income tax expense184 Other adjustments18 Balance at December 31, 2024$(3,216)

(a)Net of valuation allowances of $6,932 million and $6,369 million as of December 31, 2023 and 2022, respectively. Of the net deferred tax asset as of December 31, 2023 of $972 million, $73 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2024 through December 31, 2026; $327 million relates to net operating losses that expire in various years ending from December 31, 2027 through December 31, 2043; and $572 million relates to net operating loss carryforwards that may be carried forward indefinitely. (b) Included valuation allowances related to assets other than non-U.S. loss carryforwards of $1,937 million and $3,264 million as of December 31, 2023 and 2022, respectively. These primarily relate to excess capital loss carryforwards and excess U.S. foreign tax credits. The decrease in valuation allowance from December 31, 2022 to December 31, 2023 reflects utilization of losses against 2023 net capital gains of $1,413 million including gains reported in discontinued operations. The valuation allowance as of December 31, 2022 increased during the year primarily because it includes $1,327 million of valuation allowance against a deferred tax asset for deductible stock and restructuring losses for the year ended December 31, 2022 which was not likely to be utilized.

Equity method investments. Unconsolidated entities over which we have significant influence are accounted for as equity method investments and presented on a one-line basis in All other assets on our Statement of Financial Position. Equity method income includes our share of the results of unconsolidated entities, gains (loss) from sales and impairments of investments, which is included in Other income and in Insurance revenue in our Statement of Earnings (Loss). See Notes 1, 9 and 19 for further information. Equity method investmentbalance (Note 9)Equity method income (loss) (Note 19)December 3120242023202420232022Commercial Engines & Services$1,610 $1,551 $301 $276 $139 Defense & Propulsion Technologies186 175 8 8 8 Corporate & Other(a)4,451 3,863 147 61 75 Total$6,247 $5,590 $456 $345 $223 2024 2024 2022 (a) Equity method investments within Corporate & Other include investments held by run-off insurance operations of $2,933 million and $2,383 million and U.S. tax equity of $1,280 million and $1,227 million as of December 31, 2024 and 2023, respectively. Summarized financial information of these equity method investments is as follows. For the years ended December 3120242023(a)2022(a)Revenue$35,342 $41,403 $31,454 Gross profit (loss)1,229 4,093 107 Net income (loss)3,243 4,768 210 Net income (loss) attributable to the entity3,199 4,731 188 2024 2022(a) (a) Includes AerCap Gross profit (loss) of $3,096 million and $(447) million and Net income (loss) attributable to the entity of $2,525 million and $(1,132) million for the years ended December 31, 2023 and 2022, respectively. On November 16, 2023, we sold our remaining equity interest in AerCap and only the note remains outstanding. As of December 3120242023Current assets$19,688 $18,565 Total assets$54,116 $48,281 Current liabilities$17,437 $16,468 Total liabilities$23,868 $22,266 Noncontrolling interests$200 $176 2024 76 2024 FORM 10-K 76 2024 FORM 10-K 76 2024 FORM 10-K

As of September 14, 2023, our investment in AerCap ownership reduced below 20%, and as a result, we no longer have significant influence in AerCap. On November 16, 2023, we sold our remaining equity interest in AerCap and only the note remains outstanding. The fair value of our interest in AerCap, including the note, was $944 million and $7,403 million, which is included within Investment securities on our Statement of Financial Position at December 31, 2023 and 2022, respectively. We recognized a realized pre-tax and after-tax gain of $129 million based on several transactions during the year with share prices in the range of $55.75 to $65.89, an unrealized pre-tax loss of $865 million ($1,052 million after-tax) based on a share price of $58.32 and an unrealized pre-tax and after-tax gain of $711 million based on a share price of $65.42 related to our interest in AerCap for the years ended December 31, 2023, 2022, and 2021, respectively. See Notes 2, 3 and 19 for further information. Given AerCap summarized financial information is not available as of the date of this filing, the summarized financial information presented below is reported on a one quarter lag. For the years ended December 312023(a)2022(b)Revenues$7,511 $6,627 Net income (loss)2,539 (1,128)Net income (loss) attributable to the entity2,525 (1,132) (a) We reported summarized financial information ending September 30, 2023 instead of September 14, 2023 (date investment reduced below 20%). (b) We reported summarized financial information starting October 1, 2021 instead of November 1, 2021 (the acquisition date). As of December 312023(a)2022(b)Flight equipment held for operating leases, net$— $54,611 Other— 15,200 Total assets$— $69,811 $— Debt$— $47,350 Other— 6,817 Total liabilities$— $54,167 Noncontrolling interests$— $77 (a) As of September 14, 2023 (date investment reduced below 20%). As a result, we no longer have significant influence. (b) Financial information is from September 30, 2022. AerCap is a SEC registrant with separate filing requirements, and their respective financial information can be obtained from www.sec.gov. 2023 FORM 10-K 80 2023 FORM 10-K 80 2023 FORM 10-K 80 Equity method investments. Unconsolidated entities over which we have significant influence are accounted for as equity method investments and presented on a one-line basis in All other assets on our Statement of Financial Position. Equity method income includes our share of the results of unconsolidated entities, gains (loss) from sales and impairments of investments, which is included in Other income and in Insurance revenues in our Statement of Earnings (Loss). See Notes 1, 9 and 19 for further information. Equity method investment balance (Note 9)Equity method income (loss)December 3120232022202320222021Aerospace$1,958 $1,931 $295 $149 $58 Renewable Energy808 752 74 32 39 Power1,029 960 78 89 23 Corporate(a)4,136 3,991 (34)103 68 Total consolidated$7,931 $7,633 $413 $373 $188 (a) Equity method investments within Corporate include investments held by EFS of $1,718 million and $1,975 million and held by our run-off insurance operations of $2,383 million and $1,980 million as of December 31, 2023 and 2022, respectively. Summarized financial information of these equity method investments, exclusive of AerCap, is as follows. For the years ended December 31202320222021Revenues$43,463 $33,891 $27,210 Gross Profit2,791 2,579 2,060 Net income (loss)2,847 2,068 2,020 Net income (loss) attributable to the entity2,802 2,035 2,000 2023 2021 As of December 3120232022Current assets$29,167 $26,659 Total assets$68,313 $61,105 Current liabilities$23,484 $21,918 Total liabilities$33,573 $31,947 Noncontrolling interests$552 $399 2023

Earnings (loss) of discontinued operations, net of taxes The tax benefit for the year ended December 31, 2023 for GE HealthCare relates to retroactive 2023 Internal Revenue Service (IRS) guidance concerning foreign tax credits and accounting method changes and completion of the 2022 U.S. federal tax return, as well as net tax benefit resulting from preparatory steps for the spin-off. 2024 FORM 10-K 49 2024 FORM 10-K 49 2024 FORM 10-K 49 ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONSDecember 31, 2024December 31, 2023Cash, cash equivalents and restricted cash(a)$1,327 $3,762 Current receivables13 7,324 Inventories, including deferred inventory costs— 8,245 Goodwill— 4,437 Other intangible assets - net— 1,053 Contract and other deferred assets— 8,959 Property, plant, and equipment - net 40 5,306 All other assets438 5,750 Deferred income taxes24 3,093 Assets of discontinued operations(b)(c)$1,841 $47,927 Accounts payable$30 $8,475 Contract liabilities, progress collections & deferred income— 15,255 Long-term borrowings— 294 Non-current compensation and benefits33 3,589 All other liabilities1,254 11,600 Liabilities of discontinued operations(b)(c)$1,317 $39,213 Cash, cash equivalents and restricted cash(a) All other assets Accounts payable All other liabilities

The tax benefit for the year ended December 31, 2023 for GE HealthCare relates to retroactive 2023 IRS guidance concerning foreign tax credits and accounting method changes and completion of the 2022 U.S. federal tax return as well as net tax benefit resulting from preparatory steps for the spin-off. 2023 FORM 10-K 51 2023 FORM 10-K 51 2023 FORM 10-K 51 ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONSDecember 31, 2023December 31, 2022Cash, cash equivalents and restricted cash$1,396 $2,627 Current receivables14 3,361 Inventories, including deferred inventory costs— 2,512 Goodwill— 12,799 Other intangible assets - net— 1,520 Contract and other deferred assets— 854 Financing receivables held for sale (Polish mortgage portfolio)(a)— 1,200 Property, plant and equipment - net 58 2,379 All other assets200 2,109 Deferred income taxes27 2,528 Assets of discontinued operations$1,695 $31,890 Accounts payable and equipment project payables$36 $3,487 Progress collections and deferred income— 2,499 Long-term borrowings— 8,273 Non-current compensation and benefits31 5,658 All other liabilities(a)1,125 4,556 Liabilities of discontinued operations$1,193 $24,474 Cash, cash equivalents and restricted cash Financing receivables held for sale (Polish mortgage portfolio)(a) All other assets All other liabilities(a)

COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY) December 3120242023Deferred tax assets Insurance company loss reserves$2,349 $3,185 Progress collections, Contract assets, Contract liabilities and deferred items1,435 1,632 Accrued expenses and reserves1,231 1,241 Deferred expenses1,398 1,235 Other compensation and benefits510 521 Principal pension plans1,009 1,146 Non-U.S. loss carryforwards(a)1,891 1,879 Capital losses carryforward849 582 State deferred tax assets(b)762 813 Other1,514 1,490 Total deferred tax assets$12,948 $13,724 Valuation allowance(a)(b)(c)(3,216)(3,416)Total deferred tax assets after valuation allowance9,732 10,308 Deferred tax liabilities Intangibles$(1,049)$(1,129) Depreciation(712)(635) Investment in securities(661)(645) Other(199)(397)Total deferred tax liabilities(2,621)(2,806)Net deferred income tax asset (liability)$7,111 $7,502

2023 FORM 10-K 69 2023 FORM 10-K 69 2023 FORM 10-K 69 COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY) December 3120232022Deferred tax assets Insurance company loss reserves$3,185 $2,492 Progress collections, contract assets and deferred items2,753 2,365 Accrued expenses and reserves2,197 2,215 Deferred expenses1,317 1,438 Other compensation and benefits1,143 1,173 Principal pension plans1,359 1,146 Non-U.S. loss carryforwards(a)972 939 Other(b)843 1,000 Total deferred tax assets$13,769 $12,768 Deferred tax liabilities Depreciation$(702)$(613) Global investments, partnerships, join ventures and non-consolidated entities(1,389)(1,440) Other(1,103)(714)Total deferred tax liabilities(3,194)(2,767)Net deferred income tax asset (liability)$10,575 $10,001

December 3120242023MaturitiesAmountAverage RateAmountAverage RateCurrent portion of long-term borrowings Senior unsecured2025$1,952 4.03 %$1,0443.99 % Subordinated notes and other202587 27 Other short-term — 37 Total short-term borrowings$2,039 $1,108 MaturitiesAmountAverage RateAmountAverage RateSenior unsecured2026 - 2055$15,467 4.03 %$17,509 3.99 %Subordinated notes2035 - 20371,330 4.43 %1,383 4.43 %Other437 525 Total long-term borrowings$17,234 $19,417 Total borrowings$19,273 $20,525 Long-term debt maturities are below: 20252026202720282029ThereafterTotalLong-term debt maturities2,039 (a)1,304 1,493 452 1,445 12,540 19,273 (a) Fixed and floating rate notes of $315 million contain put options with exercise dates in 2025, which contractually mature after 2025.

December 3120232022AmountAverage RateAmountAverage RateCurrent portion of long-term borrowings Senior notes1,044 2.42 %$3,525 1.30 % Subordinated notes and other107 6.73 100 6.71 %Other short- term borrowings103 115 Total short-term borrowings$1,253 $3,739 MaturitiesAmountAverage RateAmountAverage RateSenior notes2025-2055$17,509 3.99 %$18,079 3.96 %Subordinated notes2035-20371,383 4.43 1,340 4.72 %Other819 901 Total long-term borrowings$19,711 $20,320 Total borrowings$20,965 $24,059 Long-term debt maturities over the next five years as follows. 20242025202620272028ThereafterTotalLong term debt maturities$1,151(a)$1,827$1,334$1,580$478$14,493$20,862 (a)Fixed and floating rate notes of $343 million contain put options with exercise dates in 2024, which have final maturity beyond 2035. (a) The total interest payments on consolidated borrowings are estimated to be $823 million, $774 million, $706 million, $653 million and $628 million for 2024, 2025, 2026, 2027 and 2028, respectively.

Contract assets (liabilities) and other deferred assets (income), on a net basis, increased the net liability position by $915 million for the year ended December 31, 2024, primarily due to an increase in long-term service agreements liabilities of $1,092 million, partially offset by an increase in equipment and other service agreements of $111 million. In aggregate, the net liability for long-term service agreements increased primarily due to billings of $8,594 million and net unfavorable changes in estimated profitability of $56 million, primarily in Commercial Engines & Services, partially offset by revenue recognized of $7,668 million. Revenue recognized for contracts included in a liability position at the beginning of the year were $6,336 million and $5,717 million for the years ended December 31, 2024 and 2023, respectively. CONTRACT ASSETS, LIABILITIES AND OTHER DEFERRED ASSETS AND INCOMEDecember 31, 2024December 31, 2023Long-term service agreements$2,374 $2,377 Equipment and other service agreements609 498 Current contract assets$2,982 $2,875 Nonrecurring engineering costs(a)$2,438 $2,444 Customer advances and other(b)2,393 2,342 Contract and other deferred assets4,831 4,785 Total contract and other deferred assets$7,814 $7,660 Long-term service agreement liabilities$8,994 $7,902 Current deferred income359 420 Contract liabilities and current deferred income$9,353 $8,322 Non-current deferred income1,013 975 Total contract liabilities and deferred income$10,366 $9,297 Contract assets (liabilities) and other deferred assets (income)$(2,552)$(1,637) Long-term service agreements Current contract assets Nonrecurring engineering costs(a) Customer advances and other(b) Long-term service agreement liabilities (a) Includes contract fulfillment costs for engineering and development incurred prior to production for equipment production contracts, primarily within our DPT segment, which are amortized ratably over each unit produced. We assess the recoverability of these costs and if we determine the costs are no longer probable of recovery, the asset is impaired. (b) Includes amounts due from customers within our CES segment for the sales of engines, spare parts and services, which we collect through fixed or usage-based billings from the sale of spare parts and servicing of equipment under long-term service agreements. Progress collections increased $519 million in the year ended December 31, 2024 primarily due to collections received in excess of settlements at CES. 54 2024 FORM 10-K 54 2024 FORM 10-K 54 2024 FORM 10-K NOTE 9. ALL OTHER ASSETS. All other current assets and All other assets primarily include equity method investments, Insurance cash and cash equivalents, receivables and other investments in our run-off insurance operations, pension surplus and prepaid taxes and other deferred charges. All other non-current assets increased $2,215 million in the year ended December 31, 2024, primarily due to an increase in equity method and other investments of $1,122 million, an increase in indemnity assets of $421 million, primarily related to GE Vernova, an increase in prepaid taxes and deferred charges of $214 million, an increase in Insurance receivables of $196 million, an increase in pension surplus of $157 million and an increase in Insurance cash and cash equivalents of $151 million. Insurance cash and cash equivalents was $934 million and $784 million at December 31, 2024 and December 31, 2023, respectively. All other current assets and All other assets primarily include equity method investments, Insurance cash and cash equivalents, receivables and other investments in our run-off insurance operations, pension surplus and prepaid taxes and other deferred charges. All other non-current assets increased $2,215 million in the year ended December 31, 2024, primarily due to an increase in equity method and other investments of $1,122 million, an increase in indemnity assets of $421 million, primarily related to GE Vernova, an increase in prepaid taxes and deferred charges of $214 million, an increase in Insurance receivables of $196 million, an increase in pension surplus of $157 million and an increase in Insurance cash and cash equivalents of $151 million. Insurance cash and cash equivalents was $934 million and $784 million at December 31, 2024 and December 31, 2023, respectively.

Contract and other deferred assets decreased $1,337 million in the year ended December 31, 2023 primarily due to a decrease in long-term service agreements, partially offset by the timing of revenue recognition ahead of billing milestones on long-term equipment contracts. Our long-term service agreements decreased primarily due to billings of $13,165 million, partially offset by revenues recognized of $11,312 million and a net favorable change in estimated profitability of $90 million at Power and $74 million at Aerospace. December 31, 2023AerospaceRenewable EnergyPowerCorporateTotalRevenues in excess of billings$2,377 $— $5,205 $— $7,582 Billings in excess of revenues(7,902)— (1,810)— (9,712)Long-term service agreements$(5,525)$— $3,395 $— $(2,130)Equipment and other service agreements494 1,374 1,499 263 3,630 Current contract assets$(5,030)$1,374 $4,894 $263 $1,500 Nonrecurring engineering costs(a)2,444 18 1 — 2,463 Customer advances and other(b)2,342 — 601 — 2,943 Non-current contract and other deferred assets$4,785 $18 $603 $— $5,406 Total contract and other deferred assets$(245)$1,392 $5,497 $263 $6,907