GENERAL ELECTRIC CO

CORPORATE & OTHER. Corporate & Other revenue include our run-off insurance operations revenue 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, profit (loss) of our run-off insurance operations, 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.

(a) Included costs of $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit for the year ended December 31, 2024. See Note 24 for further information.

2024 FORM 10-K 11

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, Russia and Ukraine charges, 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 operations provides management and investors with a meaningful measure that increases the period-to-period comparability of our ongoing corporate costs.

For the year ended December 31, 2024, revenue decreased by $0.2 billion compared to the year ended December 31, 2023, primarily due to higher intercompany eliminations, partially offset by an increase in our run-off insurance operations revenue. Corporate & Other operating profit decreased by $4.3 billion due to $5.2 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our GE HealthCare and AerCap investments, $0.3 billion of higher restructuring and other charges, and $0.3 billion of goodwill impairments, related to our Colibrium Additive reporting unit, partially offset by $0.7 billion of higher profit in our run-off insurance operations primarily from improved investment results, positive claims experience and higher premium rate increases, $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 and $0.2 billion of lower separation costs.

Adjusted Corporate & Other operating costs* decreased primarily due to a reduction in our functional costs and favorability from higher

bank interest, partially offset by higher intercompany eliminations, primarily resulting from additional intercompany engine parts sales

volume in our Propulsion & Additive Technologies business.

For the year ended December 31, 2023, revenue increased by $0.2 billion compared to the year ended December 31, 2022, primarily due to a $0.4 billion increase in our run-off insurance operations revenue, partially offset by $0.2 billion of higher intercompany eliminations. Corporate & Other operating profit increased by $5.8 billion due to $5.7 billion of higher gains on retained and sold ownership interests, primarily related to our GE HealthCare and AerCap investments, partially offset by the nonrecurrence of prior year gains on our Baker Hughes investment. Corporate & Other operating profit also increased as a result of $0.3 billion of lower restructuring and other charges, $0.1 billion of higher profit in our run-off insurance operations, and $0.1 billion of lower charges from contracts and recoverability of assets in connection with the conflict between Russia and Ukraine, partially offset by $0.1 billion of higher valuation allowance losses related to the planned sale of the Electric Insurance business and $0.1 billion higher separation costs.

Adjusted Corporate & Other operating costs* increased primarily due to higher EHS costs and higher intercompany eliminations primarily resulting from additional intercompany engine part sales volume in our Propulsion & Additive Technologies business partially offset by a reduction in our functional costs and favorability from higher bank interest.