GENERAL ELECTRIC CO
For the period ended Sep 30, 2025. Filed Oct 21, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 21, 2025
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Corporate
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.
2025 3Q FORM 10-Q 7
| REVENUE AND OPERATING PROFIT (COST) | Three months ended September 30 | Nine months ended September 30 | ||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Insurance revenue (Note 12) | $875 | $899 | $2,681 | $2,649 |
| Eliminations and other | (403) | (303) | (1,105) | (945) |
| Corporate & Other revenue | $473 | $596 | $1,576 | $1,704 |
| Gains (losses) on purchases and sales of business interests | $3 | $356 | $3 | $375 |
| Gains (losses) on retained and sold ownership interests and other equity securities (Note 18) | 8 | 357 | 18 | 598 |
| Restructuring and other charges (Note 19)(a) | (22) | (378) | (49) | (525) |
| Separation costs (Note 19) | (53) | (74) | (150) | (408) |
| Insurance profit (loss) (Note 12) | 361 | 171 | 714 | 541 |
| U.S. tax equity profit (loss) | (52) | (52) | (157) | (130) |
| Goodwill impairments (Note 7) | — | (251) | — | (251) |
| Adjusted Corporate & Other operating costs (Non-GAAP) | (523) | (201) | (850) | (452) |
| Corporate & Other operating profit (cost) (GAAP) | $(277) | $(73) | $(471) | $(252) |
| Less: gains (losses), impairments, Insurance, and restructuring & other | 246 | 128 | 379 | 201 |
| Adjusted Corporate & Other operating costs (Non-GAAP) | $(523) | $(201) | $(850) | $(452) |
| Corporate & Other profit (costs) | (386) | (96) | (467) | (84) |
| Eliminations | (138) | (105) | (382) | (369) |
| Adjusted Corporate & Other operating costs (Non-GAAP) | $(523) | $(201) | $(850) | $(452) |
| (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. | ||||
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 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, 2025, revenue was down $0.1 billion compared to the three months ended September 30, 2024, due to higher intercompany eliminations. Corporate & Other operating cost increased by $0.2 billion due to $0.4 billion of lower gains on purchases and sales of business interests, primarily related to the sale of our non-core Licensing business in 2024, $0.3 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our prior GE HealthCare investment, and $0.3 billion of higher adjusted Corporate and Other operating costs partially offset by $0.4 billion of lower restructuring and other charges, $0.3 billion of lower goodwill impairments, related to our Colibrium Additive reporting unit, and $0.2 billion of higher Insurance profit.
Adjusted Corporate & Other operating costs* increased by $0.3 billion primarily due to higher functional and EHS costs.
For the nine months ended September 30, 2025, revenue was down $0.1 compared to the nine months ended September 30, 2024, due to higher intercompany eliminations. Corporate & Other operating cost increased by $0.2 billion due to $0.6 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our prior GE HealthCare investment, $0.4 billion of lower gains on purchases and sales of business interests, primarily related to the sale of our non-core Licensing business in 2024, and $0.4 billion of higher adjusted Corporate and Other operating costs partially offset by $0.5 billion of lower restructuring and other charges, $0.3 billion of lower goodwill impairments, related to our Colibrium Additive reporting unit, $0.3 billion of lower separation costs and $0.2 billion of higher Insurance profit.
Adjusted Corporate & Other operating costs* increased by $0.4 billion primarily due to higher functional costs and lower bank interest.
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