v3.25.3
CONSOLIDATED AND COMBINED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common stock
Additional paid-in capital
Retained earnings
Retained earnings, excluding net parent investment
Treasury common stock
Net parent investment
Accumulated other comprehensive income (loss) – net
Equity attributable to noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2023   0              
Beginning balance at Dec. 31, 2023 $ 8,380 $ 0 $ 0 $ 0   $ 0 $ 8,051 $ (635) $ 964
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Transfers from (to) Parent, including Spin-Off related adjustments 794           794    
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment (in shares)   274,000,000              
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment 0 $ 3 8,712       (8,715)    
Issuance of shares in connection with equity awards (in shares) [1]   2,000,000              
Issuance of shares in connection with equity awards [1] 4   45     (40)      
Share-based compensation expense 104   104            
Net income (loss) 1,075       $ 1,198   (130)   7
Currency translation adjustments – net of taxes (7)             (7)  
Benefit plans – net of taxes (418)             (420) 1
Cash flow hedges – net of taxes 30             30  
Changes in equity attributable to noncontrolling interests [2] 555   514           41
Ending balance (in shares) at Sep. 30, 2024   276,000,000              
Ending balance at Sep. 30, 2024 10,517 $ 3 9,374 1,198   (40) 0 (1,031) 1,014
Beginning balance (in shares) at Jun. 30, 2024   275,000,000              
Beginning balance at Jun. 30, 2024 10,049 $ 3 8,801 1,294   0   (1,031) 982
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of shares in connection with equity awards (in shares) [3]   1,000,000              
Issuance of shares in connection with equity awards [3] (31)   9     (40)      
Share-based compensation expense 50   50            
Net income (loss) (99)     (96)         (3)
Currency translation adjustments – net of taxes 99             99  
Benefit plans – net of taxes (79)             (79)  
Cash flow hedges – net of taxes (20)             (20)  
Changes in equity attributable to noncontrolling interests [4] 548   514           34
Ending balance (in shares) at Sep. 30, 2024   276,000,000              
Ending balance at Sep. 30, 2024 $ 10,517 $ 3 9,374 1,198   (40) 0 (1,031) 1,014
Beginning balance (in shares) at Dec. 31, 2024 275,880,314 276,000,000              
Beginning balance at Dec. 31, 2024 $ 10,593 $ 3 9,733 1,611   (43) 0 (1,759) 1,047
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of shares in connection with equity awards (in shares)   2,000,000              
Issuance of shares in connection with equity awards (159)   (159)            
Share-based compensation expense 180   180            
Dividends declared $ (205)     (205)          
Repurchase of common stock (in shares) (6,300,000) (6,000,000)              
Repurchase of common stock $ (2,257)         (2,257)      
Net income (loss) 1,209     1,220         (11)
Currency translation adjustments – net of taxes 471             468 3
Benefit plans – net of taxes (209)             (210) 1
Cash flow hedges – net of taxes 62             62  
Changes in equity attributable to noncontrolling interests $ 42               42
Ending balance (in shares) at Sep. 30, 2025 271,320,459 271,000,000              
Ending balance at Sep. 30, 2025 $ 9,729 $ 3 9,755 2,626   (2,300) 0 (1,438) 1,083
Beginning balance (in shares) at Jun. 30, 2025   272,000,000              
Beginning balance at Jun. 30, 2025 9,947 $ 3 9,714 2,241   (1,636)   (1,445) 1,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of shares in connection with equity awards (13)   (13)            
Share-based compensation expense 54   54            
Dividends declared $ (68)     (68)          
Repurchase of common stock (in shares) (1,100,000) (1,000,000)              
Repurchase of common stock $ (663)         (663)      
Net income (loss) 453     452         1
Currency translation adjustments – net of taxes 31             30  
Benefit plans – net of taxes (50)             (50)  
Cash flow hedges – net of taxes 27             27  
Changes in equity attributable to noncontrolling interests $ 12               12
Ending balance (in shares) at Sep. 30, 2025 271,320,459 271,000,000              
Ending balance at Sep. 30, 2025 $ 9,729 $ 3 $ 9,755 $ 2,626   $ (2,300) $ 0 $ (1,438) $ 1,083
[1] During the third quarter of 2024, restrictions lapsed on 435,719 shares of GE Vernova common stock in connection with the vesting of
performance shares originally awarded by General Electric Company, now operating as GE Aerospace. We withheld 218,290 shares of
GE Vernova common stock to satisfy tax withholding obligations, resulting in $40 million of Treasury common stock.
[2] Primarily relates to proceeds from the sale of an approximately 16% equity interest in GE Vernova T&D India Ltd, a power transmission
and distribution solution provider, in the third quarter of 2024, net of directly attributable taxes.
[3] During the third quarter of 2024, restrictions lapsed on 435,719 shares of GE Vernova common stock in connection with the vesting of
performance shares originally awarded by General Electric Company, now operating as GE Aerospace. We withheld 218,290 shares of
GE Vernova common stock to satisfy tax withholding obligations, resulting in $40 million of Treasury common stock.
[4] Primarily relates to proceeds from the sale of an approximately 16% equity interest in GE Vernova T&D India Ltd, a power transmission
and distribution solution provider, in the third quarter of 2024, net of directly attributable taxes.