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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- 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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GE Aerospace, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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).
- Short-term borrowings
- There is a clear downward trend from $18,766 million in Q1 2020 to $1,253 million in Q4 2023, indicating a significant reduction in short-term debt. However, from Q1 2024 onwards, there is slight volatility with borrowings increasing again, reaching $2,039 million in Q3 2024 before slightly declining in subsequent quarters.
- Accounts payable
- Accounts payable shows fluctuations without a consistent trend, peaking at $18,644 million in Q4 2022 and then sharply dropping to around $7,707 million in Q2 2024 before recovering gradually to $9,495 million by Q2 2025. This suggests variable supplier obligations potentially influenced by operational changes or payment strategies.
- Progress collections and related liabilities
- The legacy progress collections and current deferred income decreased from $19,818 million in Q1 2020 to $16,589 million in Q1 2023 but rebounded to $20,718 million by Q2 2024 before the data absence. Concurrently, new progress collections and contract liabilities introduced from Q1 2024 steadily increase through Q2 2025, highlighting growth in customer advance payments and deferred revenue streams.
- Sales discounts and allowances
- Sales discounts and allowances appear only from Q1 2024, increasing overall from $3,639 million to $3,923 million by Q2 2025, reflecting possibly rising incentives or adjustments to sales pricing.
- All other current liabilities
- A decline is observed from $16,290 million in Q1 2020 to $12,313 million in Q1 2023, followed by a sharp fall to $4,507 million in Q2 2024, then relative stability around that level. This suggests either reclassification or settlement of certain liabilities.
- Liabilities of businesses held for sale
- Initially minimal, these liabilities show some increase between 2020 and 2023, averaging around $1,800 million before effectively disappearing after Q2 2024, implying disposal or closure of such businesses.
- Current liabilities
- Current liabilities declined from $70,305 million in Q1 2020 to roughly $48,177 million in Q1 2023 but plunged even further to approximately $32,750 million by Q2 2024, demonstrating a significant decrease which may indicate improved short-term debt management or asset-liability reduction initiatives.
- Deferred income
- Deferred income remains relatively stable with minor fluctuations between approximately $1,300 million and $2,000 million, but shows a gradual reduction during 2023-2025, possibly reflecting revenue recognition progress or contractual terms changes.
- Long-term borrowings
- Long-term borrowings decreased sharply from $66,388 million in Q1 2020 to $19,711 million in Q4 2023, then continue a downward trend reaching $16,998 million by Q2 2025, indicating active debt repayment or refinancing strategies reducing long-term financial obligations.
- Insurance liabilities and annuity benefits
- These liabilities generally declined from $38,241 million in Q1 2020 to about $33,347 million by Q4 2022, rose again in 2023 to nearly $39,624 million, and then declined moderately heading into 2025. This suggests periodical adjustments related to actuarial assumptions or policyholder obligations.
- Non-current compensation and benefits
- This liability category steadily decreased from $31,104 million in Q1 2020 to $11,002 million in Q2 2023 and further to $6,796 million by Q2 2025, showing consistent reduction potentially due to workforce changes, pension plan settlements, or benefit plan adjustments.
- All other liabilities
- There is a general decline from $18,985 million in Q1 2020 to around $10,509 million at the end of 2023, with a conspicuous drop below $7,000 million from Q1 2024 onward, stabilizing thereafter. This may arise from liability reclassifications or settlements.
- Liabilities of discontinued operations
- These liabilities fluctuate at low levels around $1,000-$1,500 million through 2020-2023, with slight increases during some quarters, indicating ongoing wind-down or resolution of discontinued business obligations.
- Non-current liabilities
- Overall non-current liabilities dropped considerably from $154,857 million in Q1 2020 to $83,472 million in Q1 2023, and then further to about $69,445 million by mid-2025, reflecting long-term deleveraging and rebalancing of non-current obligations.
- Total liabilities
- Total liabilities decreased sharply from $225,162 million in Q1 2020 to approximately $130,638 million in Q1 2023, with further reduction to just over $105,911 million by mid-2025, showing a sustained effort towards debt and liability reduction.
- Equity components
- Common stock remained stable at $15 million from late 2020 onward, while preferred stock is nominal and reduced to zero after Q1 2023. Accumulated other comprehensive income fluctuated around negative values, indicating unrealized losses. Other capital and retained earnings show a gradual decline from 2020 through 2023 but improve slightly after Q1 2024. Treasury stock steadily increases in magnitude over the period, suggesting ongoing share buybacks or retirements.
- Total equity
- Total equity declined from $36,859 million in Q1 2020 to $28,579 million in Q4 2023, but then showed a sharp contraction around Q1 2024 to $18,598 million, and remained relatively flat through mid-2025, indicating diminished net asset value possibly due to cumulative losses or distributions.
- Total liabilities and equity
- The combined total reflects the liability and equity trends, moving downward from $262,021 million in Q1 2020 to around $163,045 million in Q4 2023, with further drops to near $125,256 million by mid-2025, consistent with the overall downsizing of balance sheet size over time.