LONG-TERM BORROWINGS |
9 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2026 | |||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||
| LONG-TERM BORROWINGS | LONG-TERM BORROWINGS
On February 4, 2026, GE Vernova issued $2,600 million aggregate principal amount of senior notes, consisting of $600 million of 4.250% senior notes due February 2031, $1,000 million of 4.875% senior notes due February 2036, and $1,000 million of 5.500% senior notes due February 2056. The senior notes contain customary optional redemption provisions. Net proceeds from the offering were approximately $2,543 million, net of the original issue discount, underwriting fees, and deferred issuance costs. The net proceeds from the debt issuance were used for general corporate purposes, including financing a portion of the acquisition of the remaining 50% interest in Prolec GE, which closed on February 2, 2026. The estimated fair value of our long-term borrowings, excluding finance leases, was $2,381 million and $11 million as of September 30, 2026 and December 31, 2025, respectively, compared to carrying values of $2,553 million and $11 million as of September 30, 2026 and December 31, 2025, respectively. The fair value of the senior notes is classified as Level 2 within the fair value hierarchy. Credit Facilities. As of September 30, 2026, we have $6,000 million of credit facilities consisting of (i) an unsecured revolving credit facility in an aggregate committed amount of $3,000 million and (ii) a standby letter of credit and bank guarantee facility in an aggregate committed amount of $3,000 million. Each of the credit facilities will mature on April 2, 2029. There were no borrowings outstanding on these facilities as of September 30, 2026. Fees related to the unused portion of the facilities were insignificant in both the three and nine months ended September 30, 2026. See Note 22 in the Notes to our audited consolidated and combined financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 for further information.
|