Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

GE Aerospace, consolidated balance sheet: assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash, cash equivalents and restricted cash	13,619)	16,967)	17,262)	15,770)	36,630)
Investment securities	982)	5,706)	7,609)	12,297)	7,319)
Current receivables	9,327)	15,466)	17,976)	15,620)	16,691)
Financing receivables, net	—)	—)	—)	—)	1,265)
Inventories, including deferred inventory costs	9,763)	16,528)	17,403)	15,847)	15,890)
Other GE Capital receivables	—)	—)	—)	—)	3,331)
Current contract assets	2,982)	1,500)	3,088)	4,881)	5,764)
All other current assets	962)	1,647)	1,522)	1,933)	1,522)
Assets of businesses held for sale	—)	1,985)	1,374)	—)	—)
Current assets	37,635)	59,799)	66,234)	66,348)	88,412)
Investment securities	37,741)	38,000)	36,048)	42,209)	42,549)
Financing receivables, net	—)	—)	—)	—)	1,771)
Other GE Capital receivables	—)	—)	—)	—)	4,661)
Property, plant and equipment, net, excluding ROU operating lease assets	6,220)	10,654)	12,341)	13,003)	41,675)
ROU operating lease assets	1,057)	1,840)	2,137)	2,606)	2,987)
Goodwill	8,538)	13,385)	25,798)	26,182)	25,524)
Other intangible assets, net	4,257)	5,695)	7,625)	9,330)	9,774)
Contract and other deferred assets	4,831)	5,406)	6,010)	6,124)	5,888)
All other assets	13,909)	15,996)	16,998)	19,040)	14,598)
Deferred income taxes	7,111)	10,575)	11,705)	10,855)	12,081)
Assets of discontinued operations	1,841)	1,695)	2,892)	3,177)	3,532)
Non-current assets	85,505)	103,246)	121,554)	132,526)	165,040)
Total assets	123,140)	163,045)	187,788)	198,874)	253,452)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The annual financial data reveals a general downward trend in total assets over the five-year period, decreasing significantly from US$253.5 billion at the end of 2020 to US$123.1 billion by the end of 2024. This decline reflects a sustained reduction in both current and non-current asset categories.

Cash, cash equivalents, and restricted cash: Cash reserves show a marked decrease from US$36.6 billion in 2020 to US$13.6 billion in 2024, with a notable drop in 2021 followed by slight fluctuations.
Investment securities: Current investment securities started at US$7.3 billion in 2020, peaked at US$12.3 billion in 2021, then diminished sharply to below US$1 billion by 2024. Non-current investment securities remained relatively stable around US$37 billion from 2022 to 2024, down from approximately US$42.5 billion in 2020.
Receivables: Current receivables exhibit volatility, starting at US$16.7 billion in 2020, experiencing ups and downs, with a substantial decline to US$9.3 billion in 2024. Financing receivables and other GE Capital receivables were reported only in early years, after which data is absent, indicating possible disposal or reclassification.
Inventories: Inventory levels remained relatively stable around US$15.8 billion through 2021, rising to a peak of US$17.4 billion in 2022, then decreasing sharply to US$9.8 billion in 2024.
Other current assets: Other current assets fluctuate modestly with no clear trend, hovering between US$1.5 billion and US$2 billion, before dropping to below US$1 billion in 2024.
Current contract assets: Current contract assets decline significantly from US$5.8 billion in 2020 to US$1.5 billion in 2023, with a slight recovery to US$3 billion in 2024.
Assets held for sale and discontinued operations: Assets held for sale grew between 2022 and 2023 but data is missing for other years. Assets of discontinued operations steadily decreased from US$3.5 billion in 2020 to US$1.8 billion in 2024.
Property, plant, and equipment (net): There is a pronounced decline in property, plant, and equipment, from US$41.7 billion in 2020 to US$6.2 billion in 2024, indicating substantial asset disposals or write-downs over the period.
ROU operating lease assets: Right-of-use operating lease assets decrease steadily from US$3 billion in 2020 to just over US$1 billion in 2024.
Goodwill and other intangible assets: Goodwill diminishes significantly from US$25.5 billion in 2020 to US$8.5 billion by 2024, with the sharpest decline between 2022 and 2024. Similarly, other intangible assets decrease steadily from US$9.8 billion to US$4.3 billion.
Contract and other deferred assets: These assets show a modest downward trend, declining from US$5.9 billion to US$4.8 billion over the five years.
Other assets and deferred income taxes: Other assets peak at US$19 billion in 2021, followed by a decline to US$13.9 billion in 2024. Deferred income taxes similarly decrease from US$12.1 billion to US$7.1 billion in the same period.
Current assets and non-current assets: Current assets experience a consistent reduction from US$88.4 billion in 2020 to US$37.6 billion in 2024. Non-current assets also contract significantly from US$165 billion to US$85.5 billion.

Overall, the data indicates a strategic contraction or divestiture of assets over the analyzed period, with substantial reductions in cash and equivalents, property and equipment, goodwill, and current assets. The company appears to have engaged in significant asset disposals or restructuring activities, resulting in a leaner balance sheet by 2024.

Assets: Selected Items

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GE Aerospace (NYSE:GE)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items