Stock Analysis on Net

GE Aerospace (NYSE:GE)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

GE Aerospace, adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current assets 59,799 66,234 66,348 88,412 90,016
Adjustments
Add: Allowance for credit losses 647 859 1,074 1,164 874
After Adjustment
Adjusted current assets 60,446 67,093 67,422 89,576 90,890

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).


Adjustments to Total Assets

GE Aerospace, adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total assets 163,045 187,788 198,874 253,452 266,048
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance for credit losses 647 859 1,074 1,164 874
Less: Deferred income tax assets2 10,575 11,705 10,855 12,081 9,889
After Adjustment
Adjusted total assets 153,117 176,942 189,093 242,535 257,033

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).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred income tax assets. See details »


Adjustments to Current Liabilities

GE Aerospace, adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current liabilities 50,876 56,947 51,953 56,069 77,572
Adjustments
Less: Current deferred income 571 1,952 1,835 1,757 3,606
Less: Current liability for product warranties 2,053 1,268 1,091 1,197 1,371
After Adjustment
Adjusted current liabilities 48,252 53,727 49,027 53,115 72,595

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).


Adjustments to Total Liabilities

GE Aerospace, adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total liabilities 134,466 150,206 157,262 216,378 236,187
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred income 1,910 3,958 3,824 3,558 3,606
Less: Liability for product warranties 2,053 2,153 1,891 2,054 2,165
After Adjustment
Adjusted total liabilities 130,503 144,095 151,547 210,766 230,416

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »


Adjustments to Stockholders’ Equity

GE Aerospace, adjusted total GE shareholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total GE shareholders’ equity 27,378 36,366 40,310 35,552 28,316
Adjustments
Less: Net deferred income tax asset (liability)1 10,575 11,705 10,855 12,081 9,889
Add: Allowance for credit losses 647 859 1,074 1,164 874
Add: Deferred income 1,910 3,958 3,824 3,558 3,606
Add: Liability for product warranties 2,053 2,153 1,891 2,054 2,165
Add: Noncontrolling interests 1,201 1,216 1,302 1,521 1,545
After Adjustment
Adjusted total equity 22,614 32,847 37,546 31,768 26,617

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).

1 Net deferred income tax asset (liability). See details »


Adjustments to Capitalization Table

GE Aerospace, adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Short-term borrowings 1,253 3,757 4,361 4,778 23,727
Long-term borrowings 19,711 28,593 30,824 70,288 67,155
Total reported debt 20,964 32,350 35,185 75,066 90,882
Total GE shareholders’ equity 27,378 36,366 40,310 35,552 28,316
Total reported capital 48,342 68,716 75,495 110,618 119,198
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Operating lease liabilities (included in All other liabilities)2 1,973 2,393 2,848 2,973 3,162
Adjusted total debt 22,937 34,743 38,033 78,039 94,044
Adjustments to Equity
Less: Net deferred income tax asset (liability)3 10,575 11,705 10,855 12,081 9,889
Add: Allowance for credit losses 647 859 1,074 1,164 874
Add: Deferred income 1,910 3,958 3,824 3,558 3,606
Add: Liability for product warranties 2,053 2,153 1,891 2,054 2,165
Add: Noncontrolling interests 1,201 1,216 1,302 1,521 1,545
Adjusted total equity 22,614 32,847 37,546 31,768 26,617
After Adjustment
Adjusted total capital 45,551 67,590 75,579 109,807 120,661

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Operating lease liabilities (included in All other liabilities). See details »

3 Net deferred income tax asset (liability). See details »


Adjustments to Revenues

GE Aerospace, adjusted sales of equipment and services

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Sales of equipment and services 64,565 73,602 71,090 73,022 87,487
Adjustment
Add: Increase (decrease) in deferred income (61) 134 266 516 126
After Adjustment
Adjusted sales of equipment and services 64,504 73,736 71,356 73,538 87,613

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).


Adjustments to Reported Income

GE Aerospace, adjusted net earnings (loss) attributable to the Company

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Net earnings (loss) attributable to the Company 9,481 225 (6,520) 5,704 (4,979)
Adjustments
Add: Deferred income tax expense (benefit)1 622 (631) (9) (2,926) (1,104)
Add: Increase (decrease) in allowance for credit losses (121) (215) (90) 290 204
Add: Increase (decrease) in deferred income (61) 134 266 516 126
Add: Increase (decrease) in liability for product warranties 93 262 (163) (111) (27)
Less: Earnings (loss) from discontinued operations, net of taxes 414 (644) (3,195) (126) (5,335)
Add: Other comprehensive income (loss) (3,876) (2,892) 11,336 1,990 2,640
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest (35) 68 (65) (152) 25
After Adjustment
Adjusted net earnings (loss) 5,689 (2,405) 7,950 5,437 2,220

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).

1 Deferred income tax expense (benefit). See details »