ORGANIZATION AND BASIS OF PRESENTATION |
6 Months Ended |
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Jun. 30, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| ORGANIZATION AND BASIS OF PRESENTATION | ORGANIZATION AND BASIS OF PRESENTATION Organization. GE Vernova Inc. (the Company, GE Vernova, our, we, or us) is a global leader in the electric power industry, with products and services that generate, transfer, orchestrate, convert, and store electricity. We design, manufacture, deliver, and service technologies to create a more reliable, secure, and sustainable electric power system, enabling electrification and decarbonization, underpinning the progress and prosperity of the communities we serve. We report our financial results across three business segments: •Our Power segment includes the design, manufacture, and servicing of gas, nuclear, and hydro technologies, providing a critical foundation of dispatchable, flexible, stable, and reliable power. •Our Electrification segment includes power transmission, grid systems integration, power conversion and storage, and grid automation and software technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. •Our Wind segment includes our wind generation technologies, inclusive of onshore and offshore wind turbines and blades. •Effective January 1, 2026, the Company realigned the reporting of certain of its business units. Historical financial information presented within this report conforms to the new business unit structure within the Power, Electrification, and Wind segments. ◦Within our Power segment, our Steam Power business unit was realigned into Nuclear Power, Hydro Power, and Gas Power. In addition, a component of our former Electrification Software business unit was realigned into Gas Power. ◦Within our Electrification segment, we revised our Grid Solutions business unit into three new business units, Power Transmission, Grid Systems Integration, and Grid Automation & Software. In addition, a component of our former Electrification Software business unit was realigned into Grid Automation & Software and another component was realigned into Gas Power within our Power segment. ◦Within our Wind segment, we combined our Onshore Wind and LM Wind Power business units into Onshore Wind. Basis of Presentation. We have prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to interim financial statements. Accordingly, certain information related to our significant accounting policies and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated and combined financial statements, corresponding notes, and significant accounting policies in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. We have reclassified certain prior year amounts to conform to the current year’s presentation. The information presented in tables throughout the notes is presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. All intercompany balances and transactions within the Company have been eliminated in the consolidated financial statements.
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