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GE Aerospace (NYSE:GE)

Common-Size Balance Sheet: Assets
Quarterly Data

GE Aerospace, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash, cash equivalents and restricted cash 6.89 7.32 8.55 9.52 9.75 8.67 9.99 11.06 10.83 9.83 11.25 10.41 8.38 7.83 7.30 9.19 6.96 7.11 6.69 7.93 10.52 9.45 12.96
Investment securities 0.00 0.00 0.00 0.00 0.79 0.80 0.81 0.80 1.76 2.71 2.28 3.50 4.50 6.68 7.79 4.05 3.48 3.64 5.62 6.18 2.24 2.58 2.75
Current receivables 11.02 9.68 9.71 9.04 8.32 8.39 7.78 7.57 7.05 6.79 9.21 9.49 9.28 9.06 8.64 9.57 9.51 8.78 8.36 7.85 6.27 6.39 6.27
Financing receivables, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.13 0.12
Inventories, including deferred inventory costs 10.02 9.74 9.63 9.12 9.10 9.02 8.46 7.93 7.67 7.69 10.74 10.14 10.86 10.30 9.85 9.27 9.69 9.46 8.63 7.97 7.08 7.16 6.74
Other GE Capital receivables 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.57 0.55
Current contract assets 2.77 2.72 2.68 2.70 2.43 2.44 2.37 2.42 2.28 2.21 0.94 0.92 1.20 1.25 1.36 1.64 2.05 2.29 2.21 2.45 2.21 2.29 2.37
All other current assets 1.95 1.63 0.86 0.81 0.87 0.86 0.86 0.78 0.91 0.98 1.01 1.01 0.92 1.00 0.89 0.81 1.14 1.01 1.08 0.97 0.50 0.55 0.56
Assets of businesses held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.92 1.22 0.88 0.82 0.82 0.73 0.38 0.41 0.39 0.00 14.25 13.97 13.84
Current assets 32.65% 31.09% 31.42% 31.19% 31.25% 30.18% 30.27% 30.56% 30.50% 30.32% 36.35% 36.68% 36.02% 36.94% 36.65% 35.27% 33.22% 32.69% 32.97% 33.36% 43.68% 43.11% 46.17%
Investment securities 28.26 29.69 29.73 29.80 29.75 30.25 30.62 30.65 31.19 30.95 23.61 23.31 22.68 22.94 23.26 19.20 18.59 19.51 20.76 21.22 17.88 17.96 16.64
Other GE Capital receivables 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.97 1.97 1.89
Property, plant and equipment, net 6.55 6.37 6.21 6.14 5.93 6.01 5.98 5.91 5.73 5.76 7.53 7.66 7.79 7.59 7.40 7.71 7.90 7.97 7.83 7.85 6.69 6.81 6.65
Goodwill 7.05 7.01 7.01 6.96 7.05 7.19 7.01 6.93 6.91 7.19 8.12 8.21 8.41 8.19 7.97 13.74 13.97 13.90 13.57 13.17 10.68 10.73 10.33
Other intangible assets, net 3.17 3.20 3.23 3.25 3.34 3.46 3.45 3.46 3.45 3.57 3.38 3.49 3.70 3.65 3.64 4.06 4.27 4.33 4.32 4.69 3.87 3.98 3.83
Contract and other deferred assets 3.92 3.90 3.87 3.78 3.68 3.83 3.90 3.92 3.81 3.90 3.31 3.32 3.46 3.34 3.42 3.20 3.44 3.34 3.21 3.08 2.58 2.58 2.44
All other assets 12.00 12.12 11.80 11.74 12.13 11.98 11.64 11.30 10.92 10.88 10.37 9.81 10.41 9.92 9.66 9.05 10.60 10.64 10.30 9.57 5.33 5.32 5.02
Deferred income taxes 5.33 5.43 5.43 5.73 5.34 5.50 5.60 5.77 5.91 5.96 6.29 6.49 6.53 6.35 6.29 6.23 6.36 5.90 5.51 5.46 6.10 6.26 5.81
Assets of discontinued operations 1.07 1.19 1.30 1.43 1.53 1.60 1.53 1.50 1.58 1.47 1.04 1.04 1.00 1.08 1.70 1.54 1.65 1.72 1.53 1.60 1.20 1.29 1.23
Non-current assets 67.35% 68.91% 68.58% 68.81% 68.75% 69.82% 69.73% 69.44% 69.50% 69.68% 63.65% 63.32% 63.98% 63.06% 63.35% 64.73% 66.78% 67.31% 67.03% 66.64% 56.32% 56.89% 53.83%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

A structural shift in the asset composition is evident, characterized by a transition from a higher concentration of current assets toward a more dominant non-current asset base. Current assets decreased from 46.17% of total assets in March 2021 to a range between 30% and 32% by the latter half of 2026. Conversely, non-current assets expanded from 53.83% in March 2021 to consistently exceed 67% from 2022 through 2026.

Liquidity and Short-Term Investments
Cash, cash equivalents, and restricted cash show moderate volatility, peaking at 12.96% in March 2021 and ending the period at 6.89% in September 2026. A notable reallocation of liquidity occurred within investment securities; current investment securities plummeted from a peak of 7.79% in March 2023 to below 1% from March 2024 onward. This coincided with a substantial increase in non-current investment securities, which rose from 16.64% in March 2021 to peak at 31.19% in June 2024, suggesting a strategic move toward longer-term capital preservation or investment horizons.
Operational Working Capital
Inventories have demonstrated a general upward trend, increasing from 6.74% in March 2021 to 10.02% by September 2026, indicating a larger proportion of capital tied up in production or deferred costs. Similarly, current receivables grew from 6.27% to 11.02% over the same period, suggesting an increase in credit extensions to customers or a slowdown in collection cycles relative to total asset growth.
Intangible Assets and Fixed Capital
A significant adjustment in goodwill occurred between December 2022 (13.74%) and March 2023 (7.97%), where a sharp decline suggests asset impairment or the completion of business divestitures. Following this adjustment, goodwill stabilized around 7%. Property, plant, and equipment remained relatively stable, fluctuating between 5.73% and 7.97%, ending at 6.55% in September 2026.
Strategic Asset Realignments
The assets of businesses held for sale underwent a complete phase-out, dropping from approximately 14% in 2021 to zero by mid-2024. This indicates the successful execution of a divestiture strategy. Additionally, other non-current assets showed a steady increase from 5.02% in March 2021 to 12.00% by September 2026, further contributing to the overall increase in the non-current asset ratio.

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