GE Aerospace, balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land and improvements	482)	542)	585)	599)	608)
Buildings, structures and related equipment	6,340)	7,913)	8,311)	8,210)	7,824)
Machinery and equipment	19,003)	21,119)	21,037)	20,914)	20,082)
Leasehold costs and manufacturing plant under construction	1,507)	2,059)	1,971)	2,028)	2,165)
GE Industrial	27,332)	31,633)	31,904)	31,751)	30,679)
Land and improvements, buildings, structures and related equipment	—)	—)	—)	144)	149)
Aircraft	—)	—)	—)	34,372)	35,507)
Engines	—)	—)	—)	4,957)	4,113)
Helicopters	—)	—)	—)	5,750)	5,474)
All other	—)	—)	—)	235)	237)
Equipment leased to others (ELTO)	—)	—)	—)	45,314)	45,331)
GE Capital	—)	—)	—)	45,458)	45,480)
Eliminations	—)	—)	—)	(1,282)	(972)
Property, plant and equipment, original cost, excluding ROU operating lease assets	27,332)	31,633)	31,904)	75,927)	75,187)
Accumulated depreciation and amortization	(16,678)	(19,292)	(18,901)	(34,252)	(31,897)
Property, plant and equipment, net carrying value, excluding ROU operating lease assets	10,654)	12,341)	13,003)	41,675)	43,290)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Property, plant and equipment, original cost, excluding ROU operating lease assets	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	GE Aerospace property, plant and equipment, original cost, excluding ROU operating lease assets decreased from 2021 to 2022 and from 2022 to 2023.
Property, plant and equipment, net carrying value, excluding ROU operating lease assets	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	GE Aerospace property, plant and equipment, net carrying value, excluding ROU operating lease assets decreased from 2021 to 2022 and from 2022 to 2023.

GE Aerospace, asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	62.12%	62.05%	60.35%	45.47%	42.77%
Estimated total useful life (years)	18	17	17	16	19
Estimated age, time elapsed since purchase (years)	11	11	10	7	8
Estimated remaining life (years)	7	7	7	9	11

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	GE Aerospace average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	GE Aerospace estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	GE Aerospace estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		GE Aerospace estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	16,678)	19,292)	18,901)	34,252)	31,897)
Property, plant and equipment, original cost, excluding ROU operating lease assets	27,332)	31,633)	31,904)	75,927)	75,187)
Land and improvements	482)	542)	585)	599)	608)
Asset Age Ratio
Average age¹	62.12%	62.05%	60.35%	45.47%	42.77%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property, plant and equipment, original cost, excluding ROU operating lease assets – Land and improvements)
= 100 × 16,678 ÷ (27,332 – 482) = 62.12%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	GE Aerospace average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, original cost, excluding ROU operating lease assets	27,332)	31,633)	31,904)	75,927)	75,187)
Land and improvements	482)	542)	585)	599)	608)
Consolidated depreciation and amortization related to property, plant and equipment	1,473)	1,802)	1,871)	4,636)	4,026)
Asset Age Ratio (Years)
Estimated total useful life¹	18	17	17	16	19

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated total useful life = (Property, plant and equipment, original cost, excluding ROU operating lease assets – Land and improvements) ÷ Consolidated depreciation and amortization related to property, plant and equipment
= (27,332 – 482) ÷ 1,473 = 18

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	GE Aerospace estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	16,678)	19,292)	18,901)	34,252)	31,897)
Consolidated depreciation and amortization related to property, plant and equipment	1,473)	1,802)	1,871)	4,636)	4,026)
Asset Age Ratio (Years)
Time elapsed since purchase¹	11	11	10	7	8

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Consolidated depreciation and amortization related to property, plant and equipment
= 16,678 ÷ 1,473 = 11

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	GE Aerospace estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, net carrying value, excluding ROU operating lease assets	10,654)	12,341)	13,003)	41,675)	43,290)
Land and improvements	482)	542)	585)	599)	608)
Consolidated depreciation and amortization related to property, plant and equipment	1,473)	1,802)	1,871)	4,636)	4,026)
Asset Age Ratio (Years)
Estimated remaining life¹	7	7	7	9	11

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated remaining life = (Property, plant and equipment, net carrying value, excluding ROU operating lease assets – Land and improvements) ÷ Consolidated depreciation and amortization related to property, plant and equipment
= (10,654 – 482) ÷ 1,473 = 7

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Asset age ratio	Description	The company
Estimated remaining life		GE Aerospace estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

GE Aerospace (NYSE:GE)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life