Stock Analysis on Net
Stock Analysis on Net

GE Aerospace (NYSE:GE)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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GE Aerospace, consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Net income (loss)
Net (income) loss from discontinued operations activities
Depreciation and amortization of property, plant and equipment
Amortization of intangible assets
Goodwill impairments
(Gains) losses on purchases and sales of business interests
(Gains) losses on equity securities
Debt extinguishment costs
Principal pension plans cost (benefit)
Principal pension plans employer contributions
Other postretirement benefit plans, net
Provision (benefit) for income taxes
Cash (paid) recovered during the year for income taxes
(Increase) decrease in current receivables
(Increase) decrease in inventories, including deferred inventory costs
(Increase) decrease in current contract assets
Increase (decrease) in contract liabilities and current deferred income
Increase (decrease) in progress collections
Increase (decrease) in progress collections and current deferred income (legacy)
Increase (decrease) in accounts payable
Changes in operating working capital
Increase (decrease) in sales discounts and allowances
Financial services derivatives net collateral/settlement
All other operating activities
Adjustments to reconcile net income (loss) to cash from (used for) operating activities
Cash from (used for) operating activities
Additions to property, plant and equipment and internal-use software
Dispositions of property, plant and equipment
Proceeds from sale of discontinued operations
Proceeds from principal business dispositions
Net payments for principal businesses purchased
Sales of retained ownership interests
Net (purchases) dispositions of insurance investment securities
All other investing activities
Cash (used for) from investing activities
Net increase (decrease) in borrowings, maturities of 90 days or less
Newly issued debt, maturities longer than 90 days
Repayments and other debt reductions, maturities longer than 90 days
Dividends paid to shareholders
Redemption of preferred stock
Cash received (paid) for debt extinguishment costs
Purchases of common stock for treasury
All other financing activities
Cash used for financing activities
Cash from (used for) operating activities, discontinued operations
Cash (used for) from investing activities, discontinued operations
Cash from (used for) financing activities, discontinued operations
Cash from (used for) discontinued operations
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash
Increase (decrease) in cash, cash equivalents and restricted cash

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

A transition from significant financial volatility to stabilized, positive cash generation is evident across the analyzed period. Initial quarters were characterized by fluctuating net income and inconsistent operating cash flows, which evolved into a pattern of sustained profitability and steady cash inflows from operations starting in 2023.

Operating Cash Flow and Profitability
Net income experienced extreme variance between 2021 and 2022, including substantial losses and sporadic gains. However, from March 2023 onward, a stabilized trend emerged, with quarterly net income consistently remaining positive, typically ranging between 1.2 billion and 2.5 billion US dollars. Cash from operating activities followed a similar trajectory, moving from erratic figures in 2021 to a consistent quarterly surplus exceeding 1 billion US dollars from 2023 through 2026.
Investment Activities and Capital Expenditure
A singular, massive liquidity event occurred in December 2021, driven by proceeds from the sale of discontinued operations totaling 22.356 billion US dollars. Beyond this event, investing activities have generally been characterized by steady capital expenditures, with additions to property, plant, and equipment remaining relatively constant, typically between 200 million and 500 million US dollars per quarter. The period also shows intermittent inflows from the sale of retained ownership interests, which provided significant liquidity in various quarters through 2024.
Financing and Shareholder Returns
Financing activities shifted from heavy debt reduction and extinguishment in 2021 and 2022 toward a strategy of aggressive shareholder returns. Dividends paid to shareholders increased from approximately 140 million US dollars per quarter in 2021 to a stable 381 million US dollars per quarter by 2024-2026. More notably, the redemption of common stock through treasury purchases accelerated sharply; while buybacks were around 300 million US dollars per quarter in 2022, they escalated to between 1.5 billion and 2.4 billion US dollars per quarter from 2024 through 2026.
Working Capital and Asset Management
Operating working capital showed high volatility in the early years, particularly in 2022, where a large increase in accounts payable and progress collections bolstered cash positions. In more recent quarters, the impact of receivables and inventories has remained a primary driver of working capital fluctuations, though these have been offset by the strengthened core operating cash flow.

The overall financial profile indicates a strategic pivot. The company moved from a phase of structural reorganization and divestiture into a phase of operational maturity, characterized by strong internal cash generation used primarily to fund capital maintenance and substantial returns to shareholders via dividends and share repurchases.