GE HealthCare Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
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FY2023 · Filed Feb 6, 2024
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Results of Operations Segments
We exclude from Segment EBIT certain corporate-related expenses and certain transactions or adjustments that our Chief Operating Decision Maker (which is our Chief Executive Officer) considers to be non-operational, such as Interest and other financial charges – net, Benefit (provision) for income taxes, Restructuring costs, Acquisition and disposition-related benefits (charges), Spin-Off and separation costs, Non-operating benefit (income) costs, Gain (loss) on business and asset dispositions, Amortization of acquisition-related intangible assets, Net (income) loss attributable to noncontrolling interests, Income (loss) from discontinued operations, net of taxes, and Investment revaluation gain (loss). See “Results of Operations” section above for discussion on the performance of segments on revenue.
| Segment EBIT | |||||
|---|---|---|---|---|---|
| For the years ended December 31 | |||||
| 2023 | % of segment revenues | 2022 | % of segment revenues | % change | |
| Segment EBIT | |||||
| Imaging | $1,124 | 10.6% | $1,100 | 11.0% | 2% |
| Ultrasound | 821 | 23.7% | 908 | 26.5% | (10)% |
| PCS | 383 | 12.2% | 341 | 11.7% | 12% |
| PDx | 617 | 26.8% | 520 | 26.6% | 19% |
| Other(1) | 11 | (8) | |||
| $2,956 | $2,861 | 3% | |||
(1)Financial information not presented within the reportable segments, shown within the Other category, represents the HFS business and certain other business activities which do not meet the definition of an operating segment.
Imaging Segment EBIT was $1,124 million, an increase of $24 million due to cost productivity, an increase in price, and growth in sales volume, largely offset by investments, liquidation of higher-cost inventory, and mix between our product and service offerings;
Ultrasound Segment EBIT was $821 million, a decrease of $87 million due to cost inflation and investments, partially offset by cost productivity and an increase in price;
PCS Segment EBIT was $383 million, an increase of $42 million due to cost productivity, an increase in price, and growth in sales volume, partially offset by investments and cost inflation; and
PDx Segment EBIT was $617 million, an increase of $97 million due to an increase in price, growth in sales volume, and cost productivity, partially offset by cost inflation and investments.
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