Balance Sheet: Assets
Quarterly Data
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.
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
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Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash, cash equivalents and restricted cash
- There is a pronounced decline in cash and equivalents from early 2020 through mid-2021, falling from 47,286 million USD in March 2020 to 15,770 million USD by December 2021. A partial recovery is observed in 2022, peaking at 17,262 million in December 2022, followed by volatility and another downward trend reaching 10,861 million by June 2025.
- Investment securities
- Investment securities exhibit variability, with significant holdings starting in December 2020. Values fluctuate between 5,300 million and 12,814 million USD, peaking in June 2023, then declining steadily to approximately 1,000 million by mid-2025. The total category also shows a fluctuating trend with a moderate decrease over the period.
- Current receivables
- Current receivables remain relatively stable from 2020 to early 2023, ranging between 14,200 million and 18,000 million USD, before experiencing a sharp decline in late 2023 into 2024, dropping to approximately 8,370 million USD by September 2024. A mild upward movement is noted afterward.
- Inventories, including deferred inventory costs
- Inventories maintain a steady level around 15,000 to 17,000 million USD through 2022, with a marked drop starting mid-2024, falling to just above 9,000 million USD. A modest increase occurs near mid-2025, yet levels are significantly lower compared to earlier years.
- Current contract assets
- Current contract assets peak early in the dataset around 5,800 million but decline notably over time, falling below 2,000 million by mid-2024. There is a slight rebound toward 3,000 million near mid-2025.
- Current assets
- Current assets reflect volatility, initially surging to over 113,000 million USD in early 2021 followed by a steady decrease through 2022 and 2023, notably dropping to around 37,000 million in 2024 and remaining relatively flat through mid-2025, indicating a significant contraction in liquidity.
- Property, plant and equipment, net
- There is a consistent downward trend in net property, plant, and equipment from approximately 46,000 million USD in 2020 to roughly 7,000 million by mid-2024. A slight recovery or stabilization is observed afterward, suggesting asset disposals or impairments during the period.
- Goodwill
- Goodwill decreases substantially from nearly 27,000 million USD in early 2020 to the range of 8,500 to 9,000 million by mid-2025. This steep decline suggests impairment charges or divestiture of goodwill-bearing assets.
- Other intangible assets, net
- Other intangible assets steadily reduce from around 10,300 million USD in early 2020 to approximately 4,300 million by mid-2025, indicating amortization or asset write-downs consistent with goodwill trends.
- Contract and other deferred assets
- Contract and deferred assets decrease sharply from over 16,000 million USD in early 2020 to approximately 5,000 million by mid-2025, showing erosion in deferred revenue or similar asset components.
- Deferred income taxes
- Deferred income taxes increase from 10,457 million USD in March 2020 to a peak exceeding 14,800 million by mid-2021, before trending downward to roughly 6,900 million by mid-2025, reflecting changes in tax positions or tax asset realizations.
- Assets of businesses held for sale
- Assets of businesses held for sale spike between late 2020 and early 2021 (above 33,000 million USD), then vanish from reported values after early 2022, implying completion of disposal or reclassification.
- Non-current assets
- Non-current assets decline from approximately 182,000 million USD in early 2020 to about 85,000 million by mid-2024, with marginal recovery afterward. This trend indicates significant asset disposals or impairments over the period.
- Total assets
- Total assets decrease steadily from 262,021 million USD in early 2020 to about 125,000 million by mid-2025. The decline reflects the contraction in all major asset categories, suggestive of strategic downsizing or asset divestitures.