Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Analysis of Debt
- Aggregate Accruals
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GE Aerospace, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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 significant structural contraction of the balance sheet is observed between March 2021 and March 2026, characterized by a substantial reduction in both total liabilities and total equity. Total liabilities and equity decreased from 245.16 billion USD to 128.45 billion USD over the analyzed period. A pivotal shift in the financial structure occurred in June 2024, marked by a sharp decline in total liabilities and a reorganization of current liability reporting categories.
- Liability Structure and Trends
- Total liabilities exhibited a long-term downward trajectory, falling from 210.01 billion USD in March 2021 to 110.15 billion USD by March 2026. This reduction was driven by declines in both current and non-current obligations.
- Current liabilities saw a notable drop in June 2024, falling from 51.09 billion USD in March 2024 to 32.75 billion USD. This period also coincided with a change in accounting presentation: legacy progress collections and deferred income were replaced by distinct line items for progress collections, contract liabilities, and sales discounts and allowances.
- Non-current liabilities decreased from 152.33 billion USD in March 2021 to 70.12 billion USD in March 2026. This decline is largely attributable to a massive reduction in long-term borrowings, which fell from 66.89 billion USD to 18.17 billion USD, and a decrease in non-current compensation and benefits from 29.10 billion USD to 6.66 billion USD.
- Debt and Obligation Management
- Long-term debt levels were aggressively reduced throughout the period, indicating a strategic shift toward a leaner capital structure or the divestiture of debt-heavy segments. Short-term borrowings remained relatively stable after the initial reduction phase, fluctuating between 1.03 billion USD and 2.10 billion USD from March 2023 onward.
- Insurance liabilities and annuity benefits remained a significant and relatively stable portion of the non-current liabilities, fluctuating between 33 billion USD and 40 billion USD, suggesting a persistent long-term obligation profile in this area.
- Equity and Capital Composition
- Total equity experienced a significant reduction in June 2024, dropping from 31.10 billion USD in December 2023 to 18.84 billion USD. Following this drop, equity remained relatively stagnant, ending at 18.30 billion USD in March 2026.
- A consistent increase in common stock held in treasury is observed, growing from a negative value of 81.55 billion USD in March 2021 to 89.69 billion USD by March 2026. This indicates a sustained program of share repurchases that has offset the growth in retained earnings.
- Retained earnings showed resilience, recovering from a dip in mid-2024 to reach 89.07 billion USD by March 2026, nearly returning to the March 2021 level of 89.28 billion USD despite the overall reduction in total equity.
The overall financial trend indicates a transition toward a significantly smaller, less leveraged balance sheet. The abrupt changes in June 2024 suggest a major corporate reorganization or divestiture that removed substantial liabilities and equity from the consolidated statements, resulting in a more streamlined financial profile by March 2026.