Stock Analysis on Net
Stock Analysis on Net

GE Aerospace (NYSE:GE)

$24.99

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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GE Aerospace, consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Net income (loss)
Net (income) loss from discontinued operations activities
Depreciation and amortization of property, plant and equipment
Amortization of intangible assets
Goodwill impairments
(Gains) losses on purchases and sales of business interests
(Gains) losses on equity securities
Debt extinguishment costs
Principal pension plans cost (benefit)
Principal pension plans employer contributions
Other postretirement benefit plans, net
Provision (benefit) for income taxes
Cash paid during the year for income taxes
(Increase) decrease in current receivables
(Increase) decrease in inventories, including deferred inventory costs
(Increase) decrease in current contract assets
Increase (decrease) in contract liabilities and current deferred income
Increase (decrease) in progress collections
Increase (decrease) in progress collections and current deferred income (legacy)
Increase (decrease) in accounts payable
Changes in operating working capital
Increase (decrease) in sales discounts and allowances
Financial services derivatives net collateral/settlement
All other operating activities
Adjustments to reconcile net income (loss) to cash from operating activities
Cash from operating activities
Additions to property, plant and equipment and internal-use software
Dispositions of property, plant and equipment
Proceeds from sale of discontinued operations
Proceeds from principal business dispositions
Net payments for principal businesses purchased
Sales of retained ownership interests
Net (purchases) dispositions of insurance investment securities
All other investing activities
Cash (used for) from investing activities
Net increase (decrease) in borrowings, maturities of 90 days or less
Newly issued debt, maturities longer than 90 days
Repayments and other debt reductions, maturities longer than 90 days
Dividends paid to shareholders
Cash received (paid) for debt extinguishment costs
Redemption of preferred stock
Purchases of common stock for treasury
All other financing activities
Cash used for financing activities
Cash from (used for) operating activities, discontinued operations
Cash (used for) from investing activities, discontinued operations
Cash from (used for) financing activities, discontinued operations
Cash from (used for) discontinued operations
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash
Increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of year
Cash, cash equivalents and restricted cash at end of year

Based on: 10-K (reporting date: 2025-12-31), 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).

The financial information reveals a significant turnaround in net income over the observed period. Initial years demonstrate substantial net losses, followed by increasing profitability culminating in robust net income by 2025. Cash flow from operating activities also exhibits a positive trend, mirroring the improvement in net income, though with some volatility.

Net Income & Profitability
A substantial loss of US$6.591 billion in 2021 transitioned to a profit of US$292 million in 2022, and continued to grow significantly, reaching US$8.698 billion in 2025. This indicates a successful implementation of strategic initiatives or favorable market conditions. Net income from discontinued operations fluctuated, contributing positively in 2021 and 2022, becoming negative in 2023 and 2025.
Cash Flow from Operating Activities
Cash generated from operating activities increased substantially from US$888 million in 2021 to US$8.543 billion in 2025. This growth is consistent with the improvement in net income and suggests effective working capital management, despite some fluctuations in individual working capital components. Adjustments to reconcile net income to cash from operating activities were notably high in 2021 and 2022, then became negative in 2023 and 2024 before stabilizing.
Investing Activities
Cash used in investing activities was exceptionally high in 2021, largely due to proceeds from the sale of discontinued operations (US$22.356 billion). Subsequent years show a return to more typical investing patterns, with consistent additions to property, plant, and equipment. Net payments for principal business purchases were significant in 2021 and 2025. Sales of retained ownership interests contributed positively to cash flow in 2022, 2023, and 2024.
Financing Activities
Financing activities demonstrate a significant outflow of cash throughout the period, primarily driven by repayments and reductions of debt, and purchases of common stock for treasury. Dividend payments also represent a consistent cash outflow. Newly issued debt was substantial in 2022 and 2025, likely to support investments or refinance existing debt. Debt extinguishment costs were particularly high in 2021, followed by a significant decrease in subsequent years.
Working Capital
Increases in receivables and inventories consistently represented cash outflows across the period, indicating growing sales and production. Accounts payable demonstrated more variability, with a significant increase in 2022 and 2025. Changes in operating working capital were positive in 2022 and 2023, but negative in 2024 and 2025.
Pension & Postretirement Benefits
Principal pension plan costs exhibited a fluctuating pattern, transitioning from a benefit in earlier years to a cost in later years. Employer contributions remained relatively stable. Other postretirement benefit plans consistently represented a cash outflow, decreasing slightly over time.
Cash Position
The cash position decreased substantially in 2021, then increased through 2023, before declining again in 2024 and 2025. Despite the fluctuations, the ending cash balance remained positive throughout the period. The effect of currency exchange rate changes on cash was variable, impacting the overall change in cash position.

Overall, the financial information indicates a successful restructuring and return to profitability. While financing activities consistently required significant cash outflows, the strong performance of operating activities and strategic investing decisions positioned the company for continued growth.