Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

GE Aerospace, consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash, cash equivalents and restricted cash	12,392)	13,619)	16,967)	17,262)	15,770)
Investment securities	—)	982)	5,706)	7,609)	12,297)
Current receivables	11,773)	9,327)	15,466)	17,976)	15,620)
Inventories, including deferred inventory costs	11,868)	9,763)	16,528)	17,403)	15,847)
Current contract assets	3,511)	2,982)	1,500)	3,088)	4,881)
All other current assets	1,052)	962)	1,647)	1,522)	1,933)
Assets of businesses held for sale	—)	—)	1,985)	1,374)	—)
Current assets	40,596)	37,635)	59,799)	66,234)	66,348)
Investment securities	38,788)	37,741)	38,000)	36,048)	42,209)
Property, plant and equipment, net, excluding ROU operating lease assets	6,969)	6,220)	10,654)	12,341)	13,003)
ROU operating lease assets	1,018)	1,057)	1,840)	2,137)	2,606)
Goodwill	9,060)	8,538)	13,385)	25,798)	26,182)
Other intangible assets, net	4,225)	4,257)	5,695)	7,625)	9,330)
Contract and other deferred assets	4,920)	4,831)	5,406)	6,010)	6,124)
All other assets	15,279)	13,909)	15,996)	16,998)	19,040)
Deferred income taxes	7,459)	7,111)	10,575)	11,705)	10,855)
Assets of discontinued operations	1,855)	1,841)	1,695)	2,892)	3,177)
Non-current assets	89,573)	85,505)	103,246)	121,554)	132,526)
Total assets	130,169)	123,140)	163,045)	187,788)	198,874)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The asset composition of the company demonstrates significant shifts over the five-year period. Total assets decreased substantially from 2021 to 2024, followed by a modest increase in 2025. This overall decline is primarily driven by changes within both current and non-current asset categories.

Current Assets: Current assets experienced a notable decrease from US$66.348 billion in 2021 to US$37.635 billion in 2024, before recovering slightly to US$40.596 billion in 2025. This decline was largely attributable to reductions in several key components. Cash and cash equivalents decreased from US$15.770 billion to US$12.392 billion over the period. Investment securities experienced a dramatic reduction, falling from US$12.297 billion in 2021 to only US$982 million in 2024. Current receivables and inventories also decreased significantly between 2021 and 2024, but showed some recovery in 2025. Current contract assets decreased substantially between 2021 and 2023, then increased slightly in the following two years.
Non-Current Assets: Non-current assets also decreased, though less dramatically than current assets, falling from US$132.526 billion in 2021 to US$85.505 billion in 2024, with a slight increase to US$89.573 billion in 2025. The most significant change within this category was the reduction in goodwill, which decreased from US$26.182 billion to US$8.538 billion. Property, plant, and equipment also experienced a substantial decline, decreasing from US$13.003 billion to US$6.220 billion. Other intangible assets also decreased consistently throughout the period. Deferred income taxes also showed a decreasing trend. Investment securities within the non-current portion remained relatively stable.
Assets Held for Sale & Discontinued Operations: The presence of "Assets of businesses held for sale" in 2022 and 2023, and "Assets of discontinued operations" throughout the period, suggests strategic divestitures or restructuring activities. These items contribute to the overall asset reduction, particularly in the earlier years of the period.

The combined effect of these changes resulted in a significant decrease in total assets from US$198.874 billion in 2021 to US$123.140 billion in 2024, followed by a modest recovery to US$130.169 billion in 2025. The company appears to be actively managing its asset base, potentially through divestitures, reduced investment in certain asset classes, and a decrease in long-lived assets.

Assets: Selected Items

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Current Assets: Selected Items

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GE Aerospace (NYSE:GE)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items