Stock Analysis on Net

GE Aerospace (NYSE:GE)

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

Microsoft Excel
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


Current Assets: Selected Items