GENERAL ELECTRIC CO

CORPORATE & OTHER. Corporate & Other revenues include our run-off Insurance operations revenues and the elimination of intersegment activities. Corporate & Other operating profit includes Corporate functions and operations costs, certain costs of our principal retirement plans, significant, higher-cost restructuring programs, separation costs, insurance profit (loss), U.S. tax equity profit (loss), transition services agreements, environmental health and safety (EHS) impacts and other costs, as well as certain amounts that are not included in operating segment results because they are excluded from measurement of their operating performance for internal and external purposes.

2024 3Q FORM 10-Q 7

(a) Included costs of $328 million and $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit for the three and nine months ended September 30, 2024, respectively. See Note 22 for further information.

Adjusted Corporate & Other operating costs* excludes gains (losses) on purchases and sales of business interests, gains (losses) on retained and sold ownership interests and other equity securities, higher-cost restructuring programs, separation costs, our run-off Insurance operations, U.S. tax equity profit (loss) and goodwill impairments. We believe that adjusting Corporate & Other costs to exclude the effects of items that are not closely associated with ongoing corporate operations provides management and investors with a meaningful measure that increases the period-to-period comparability of our ongoing corporate costs.

For the three months ended September 30, 2024, revenues decreased compared to the three months ended September 30, 2023, primarily due to higher intersegment eliminations. Corporate & Other operating costs decreased by $1.4 billion due to $1.5 billion of higher gains on retained and sold ownership interests and other equity securities, related to our GE HealthCare and AerCap investments, $0.4 billion of gains on sales of business interests, primarily related to the sale of our non-core licensing business, $0.1 billion of lower separation costs and $0.1 billion of higher Insurance profit, partially offset by $0.3 billion of higher restructuring and other costs and $0.3 billion of goodwill impairments, related to our Colibrium Additive reporting unit.

Adjusted Corporate & Other operating costs* decreased primarily due to a reduction in our structural costs and favorability from higher bank interest, partially offset by higher intersegment eliminations primarily resulting from additional intercompany engine parts sales volume.

For the nine months ended September 30, 2024, revenues decreased by $0.2 billion compared to the nine months ended September 30, 2023, primarily due to higher intersegment eliminations, partially offset by an increase in our run-off Insurance operations revenues. Corporate & Other operating profit decreased by $4.2 billion due to $4.6 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our GE HealthCare and AerCap investments, $0.4 billion of higher restructuring and other charges, and $0.3 billion of goodwill impairments, related to our Colibrium Additive reporting unit, partially offset by $0.5 billion of higher gains on sales of business interests, primarily related to the sale of our non-core licensing business and prior year valuation allowance losses related to the planned sale of the Electric Insurance business, $0.3 billion of higher insurance profit and $0.1 billion of lower separation costs.

Adjusted Corporate & Other operating costs* decreased by $0.2 billion primarily due to a reduction in our structural costs and favorability from higher bank interest, partially offset by higher intersegment eliminations primarily resulting from additional intercompany engine parts sales volume.