Analysis of Reportable Segments
GE Aerospace operates in 2 segments: Commercial Engines & Services (CES) and Defense & Propulsion Technologies (DPT).
Segment Profit Margin
GE Aerospace, profit margin by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 26.25% | 23.66% | 22.13% | — | — |
| Defense & Propulsion Technologies (DPT) | 11.19% | 10.13% | 12.22% | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Commercial Engines & Services (CES) | Commercial Engines & Services (CES) segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Defense & Propulsion Technologies (DPT) | Defense & Propulsion Technologies (DPT) segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Segment Profit Margin: Commercial Engines & Services (CES)
GE Aerospace; Commercial Engines & Services (CES); segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment profit (loss) | 7,055) | 5,643) | 4,164) | —) | —) |
| Revenues | 26,881) | 23,855) | 18,813) | —) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 26.25% | 23.66% | 22.13% | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × 7,055 ÷ 26,881 = 26.25%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Commercial Engines & Services (CES) | Commercial Engines & Services (CES) segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Defense & Propulsion Technologies (DPT)
GE Aerospace; Defense & Propulsion Technologies (DPT); segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment profit (loss) | 1,061) | 908) | 976) | —) | —) |
| Revenues | 9,478) | 8,961) | 7,989) | —) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 11.19% | 10.13% | 12.22% | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × 1,061 ÷ 9,478 = 11.19%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Defense & Propulsion Technologies (DPT) | Defense & Propulsion Technologies (DPT) segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Segment Capital Expenditures to Depreciation
GE Aerospace, capital expenditures to depreciation by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 1.16 | 0.96 | 0.44 | — | — |
| Defense & Propulsion Technologies (DPT) | 0.90 | 0.99 | 1.03 | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Commercial Engines & Services (CES) | Commercial Engines & Services (CES) segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Defense & Propulsion Technologies (DPT) | Defense & Propulsion Technologies (DPT) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Commercial Engines & Services (CES)
GE Aerospace; Commercial Engines & Services (CES); segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Property, plant and equipment additions | 431) | 343) | 160) | —) | —) |
| Depreciation and amortization | 370) | 356) | 362) | —) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.16 | 0.96 | 0.44 | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Segment capital expenditures to depreciation = Property, plant and equipment additions ÷ Depreciation and amortization
= 431 ÷ 370 = 1.16
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Commercial Engines & Services (CES) | Commercial Engines & Services (CES) segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Defense & Propulsion Technologies (DPT)
GE Aerospace; Defense & Propulsion Technologies (DPT); segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Property, plant and equipment additions | 135) | 145) | 149) | —) | —) |
| Depreciation and amortization | 150) | 147) | 144) | —) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.90 | 0.99 | 1.03 | — | — |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Segment capital expenditures to depreciation = Property, plant and equipment additions ÷ Depreciation and amortization
= 135 ÷ 150 = 0.90
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Defense & Propulsion Technologies (DPT) | Defense & Propulsion Technologies (DPT) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Revenues
GE Aerospace, revenues by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 26,881) | 23,855) | 18,813) | —) | —) |
| Defense & Propulsion Technologies (DPT) | 9,478) | 8,961) | 7,989) | —) | —) |
| Corporate & Other | 2,343) | 2,532) | 2,337) | —) | —) |
| Total | 38,702) | 35,348) | 29,139) | —) | —) |
Based on: 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), 10-K (reporting date: 2020-12-31).
Segment profit (loss)
GE Aerospace, segment profit (loss) by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 7,055) | 5,643) | 4,164) | —) | —) |
| Defense & Propulsion Technologies (DPT) | 1,061) | 908) | 976) | —) | —) |
| Total | 8,116) | 6,551) | 5,140) | —) | —) |
Based on: 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), 10-K (reporting date: 2020-12-31).
Property, plant and equipment additions
GE Aerospace, property, plant and equipment additions by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 431) | 343) | 160) | —) | —) |
| Defense & Propulsion Technologies (DPT) | 135) | 145) | 149) | —) | —) |
| Corporate & Other | 354) | 278) | 265) | —) | —) |
| Total | 920) | 766) | 574) | —) | —) |
Based on: 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), 10-K (reporting date: 2020-12-31).
Depreciation and amortization
GE Aerospace, depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Commercial Engines & Services (CES) | 370) | 356) | 362) | —) | —) |
| Defense & Propulsion Technologies (DPT) | 150) | 147) | 144) | —) | —) |
| Corporate & Other | 314) | 294) | 340) | —) | —) |
| Total | 834) | 797) | 846) | —) | —) |
Based on: 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), 10-K (reporting date: 2020-12-31).