GE Vernova (GEV) 10-Q 30 Apr 24 2024 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-41966
Entity Registrant Name	GE Vernova Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	92-2646542
Entity Address, Address Line One	58 Charles Street,
Entity Address, City or Town	Cambridge,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	617
Local Phone Number	674-7555
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	GEV
Security Exchange Name	NYSE
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		274,085,523
Amendment Flag	false
Entity Central Index Key	0001996810
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024

COMBINED STATEMENT OF INCOME (L

COMBINED STATEMENT OF INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Sales	$ 7,260	$ 6,822
Cost of sales	6,109	5,903
Gross profit	1,150	919
Selling, general, and administrative expenses	1,202	1,186
Research and development expenses	237	202
Operating income (loss)	(289)	(469)
Interest and other financial charges – net	(14)	(21)
Non-operating benefit income	134	139
Other income (expense) – net (Note 17)	73	(64)
Income (loss) before income taxes	(96)	(415)
Provision (benefit) for income taxes (Note 15)	10	(69)
Net income (loss)	(106)	(346)
Net loss (income) attributable to noncontrolling interests	(24)	32
Net income (loss) attributable to GE Vernova	(130)	(315)
Equipment
Sales	3,617	3,489
Cost of sales	3,693	3,575
Services
Sales	3,642	3,333
Cost of sales	$ 2,417	$ 2,328

COMBINED STATEMENT OF FINANCIAL

COMBINED STATEMENT OF FINANCIAL POSITION (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Cash, cash equivalents, and restricted cash	$ 3,255	$ 1,551
Inventories, including deferred inventory costs (Note 5)	8,859	8,253
Current contract assets (Note 9)	8,579	8,339
All other current assets (Note 10)	462	352
Assets of business held for sale (Note 3)	993	1,444
Current assets	29,243	27,428
Property, plant, and equipment – net (Note 6)	5,224	5,228
Goodwill (Note 8)	4,403	4,437
Intangible assets – net (Note 8)	991	1,042
Contract and other deferred assets (Note 9)	633	621
Equity method investments (Note 11)	3,647	3,555
Deferred income taxes (Note 15)	1,428	1,582
All other assets (Note 10)	2,303	2,228
Total assets	47,872	46,121
Contract liabilities and deferred income (Note 9)	15,919	15,074
All other current liabilities (Note 14)	4,399	4,352
Liabilities of business held for sale (Note 3)	1,472	1,448
Current liabilities	29,516	29,306
Deferred income taxes (Note 15)	423	382
Non-current compensation and benefits	3,266	3,273
All other liabilities (Note 14)	4,687	4,780
Total liabilities	37,892	37,741
Commitments and contingencies (Note 20)
Net parent investment	9,659	8,051
Accumulated other comprehensive income (loss) – net attributable to GE Vernova (Note 16)	(686)	(635)
Total equity attributable to GE Vernova	8,974	7,416
Noncontrolling interests	1,007	964
Total equity	9,980	8,380
Total liabilities and equity	47,872	46,121
Nonrelated party
Current receivables - net	6,992	7,409
Accounts payable and equipment project payables	7,509	7,900
Related party
Current receivables - net	104	80
Accounts payable and equipment project payables	$ 217	$ 532

COMBINED STATEMENT OF CASH FLOW

COMBINED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows – operating activities
Net income (loss)	$ (106)	$ (346)
Adjustments to reconcile net income (loss) to cash from (used for) operating activities
Depreciation and amortization of property, plant, and equipment (Note 6)	188	176
Amortization of intangible assets (Note 8)	63	55
Principal pension plans – net (Note 13)	(95)	(99)
Other postretirement benefit plans – net (Note 13)	(47)	(83)
Provision (benefit) for income taxes (Note 15)	10	(69)
Cash recovered (paid) during the year for income taxes	(58)	(45)
Changes in operating working capital:
Decrease (increase) in current receivables	359	591
Decrease (increase) in due from related parties	(56)	(12)
Decrease (increase) in inventories, including deferred inventory costs	(717)	(739)
Decrease (increase) in current contract assets	(270)	(36)
Increase (decrease) in accounts payable and equipment project payables	(306)	(306)
Increase (decrease) in due to related parties	(365)	10
Increase (decrease) in contract liabilities and current deferred income	885	317
All other operating activities	71	(104)
Cash from (used for) operating activities	(444)	(690)
Cash flows – investing activities
Additions to property, plant, and equipment and internal-use software	(217)	(124)
Dispositions of property, plant, and equipment	4	2
Purchases of and contributions to equity method investments	(91)	(18)
Sales of and distributions from equity method investments	29	13
All other investing activities	(9)	86
Cash from (used for) investing activities	(285)	(41)
Cash flows – financing activities
Net increase (decrease) in borrowings of maturities of 90 days or less	(23)	18
Transfers from (to) Parent	2,023	708
All other financing activities	(66)	(22)
Cash from (used for) financing activities	1,934	704
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash	(32)	13
Increase (decrease) in cash, cash equivalents, and restricted cash, including cash classified within businesses held for sale	1,173	(14)
Less: Net increase (decrease) in cash classified within businesses held for sale	(531)	(21)
Increase (decrease) in cash, cash equivalents, and restricted cash	1,704	6
Cash, cash equivalents, and restricted cash at beginning of year	1,551	2,067
Cash, cash equivalents, and restricted cash as of March 31	$ 3,255	$ 2,073

COMBINED STATEMENT OF COMPREHEN

COMBINED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to GE Vernova	$ (130)	$ (315)
Net loss (income) attributable to noncontrolling interests	(24)	32
Net income (loss)	(106)	(346)
Other comprehensive income (loss):
Currency translation adjustments – net of taxes	11	63
Benefit plans – net of taxes	(68)	1,659
Cash flow hedges – net of taxes	8	17
Other comprehensive income (loss)	(49)	1,738
Comprehensive income (loss)	(155)	1,392
Comprehensive loss (income) attributable to noncontrolling interests	(26)	34
Comprehensive income (loss) attributable to GE Vernova	$ (181)	$ 1,426

COMBINED STATEMENT OF CHANGES I

COMBINED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Total equity attributable to GE Vernova	Net parent investment	Accumulated other comprehensive income (loss) – net	Equity attributable to noncontrolling interests
Beginning balance at Dec. 31, 2022	$ 11,607	$ 10,650	$ 12,106	$ (1,456)	$ 957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(346)	(315)	(315)		(32)
Currency translation adjustments – net of taxes	63	63		63	(1)
Benefit plans – net of taxes	1,659	1,660		1,660	(2)
Cash flow hedges – net of taxes	17	17		17
Transfers from (to) Parent	(2,592)	(2,592)	(2,592)
Changes in equity attributable to noncontrolling interests	5				5
Ending balance at Mar. 31, 2023	10,412	9,484	9,199	285	928
Beginning balance at Dec. 31, 2023	8,380	7,416	8,051	(635)	964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(106)	(130)	(130)		24
Currency translation adjustments – net of taxes	11	11		11
Benefit plans – net of taxes	(68)	(70)		(70)	2
Cash flow hedges – net of taxes	8	8		8
Transfers from (to) Parent	1,738	1,738	1,738
Changes in equity attributable to noncontrolling interests	18				18
Ending balance at Mar. 31, 2024	$ 9,980	$ 8,974	$ 9,659	$ (686)	$ 1,007

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization. GE Vernova (the Company, GE Vernova, our, we, or us) was a carve-out business of General Electric Company, which is now known as GE Aerospace (GE or Parent). GE Vernova LLC was formed as a Delaware limited liability corporation on February 28, 2023 for the purpose of receiving, pursuant to a reorganization, all of the assets of GE Vernova. The Company had issued 100 shares in exchange for $1.00, all of which were held by GE as of March 31, 2024. On April 1, 2024, GE Vernova LLC converted into a Delaware corporation pursuant to a statutory conversion and was renamed GE Vernova Inc. On April 2, 2024 (the Distribution Date), GE completed the previously announced spin-off of GE Vernova (the Spin-Off). The Spin-Off was completed through a distribution of all the Company's outstanding common stock to holders of record of GE's common stock as of the close of business on March 19, 2024 (the Distribution), which resulted in the issuance of approximately 274 million shares of common stock. As a result of the Distribution, the Company became an independent public company. Our common stock is listed under the symbol “GEV” on the New York Stock Exchange. Unless the context otherwise requires, references to the Company, GE Vernova, our, we, and us, refer to (i) GE’s renewable energy, power, and digital businesses prior to the Spin-Off and (ii) GE Vernova Inc. and its subsidiaries following the Spin-Off. Basis of Presentation . The unaudited combined financial statements have been derived from the consolidated financial statements and accounting records of GE, including the historical cost basis of assets and liabilities comprising the Company, as well as the historical revenues, direct costs, and allocations of indirect costs attributable to the operations of the Company, using the historical accounting policies applied by GE. These unaudited combined financial statements do not purport to reflect what the results of operations, comprehensive income, financial position, or cash flows would have been had the Company operated as a separate, stand-alone entity during the periods presented. We have prepared the accompanying unaudited combined financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to interim financial statements. Accordingly, certain information related to our significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted. These unaudited combined financial statements reflect, in the opinion of management, all material adjustments (which include only normally recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations, and cash flows for the periods presented. These unaudited combined financial statements should be read in conjunction with our audited combined financial statements, corresponding notes, and significant accounting policies for the year ended December 31, 2023, included in our information statement dated March 8, 2024, which was furnished as Exhibit 99.1 to a Current Report on Form 8-K furnished with the SEC on March 8, 2024 (the Information Statement). The information presented in tables throughout the footnotes is presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. All intercompany balances and transactions within the Company have been eliminated in the combined financial statements. As described in Note 22, transactions between the Company and GE have been included in these combined financial statements. Certain financing transactions with GE are deemed to have been settled immediately through Net parent investment in the Combined Statement of Financial Position and are accounted for as a financing activity in the Combined Statement of Cash Flows as Transfers from (to) Parent. The Combined Statement of Financial Position reflects all of the assets and liabilities of GE that are specifically identifiable as being directly attributable to the Company, including Net parent investment as a component of equity. Net parent investment represents GE’s historical investment in the Company and includes accumulated net income and losses attributable to the Company and the net effect of transactions with GE and its subsidiaries. GE used a centralized approach to cash management and financing of its operations. These arrangements may not be reflective of the way the Company would have financed its operations had it been a separate, stand-alone entity during the periods presented. The GE centralized cash management arrangements are excluded from the asset and liability balances in the Combined Statement of Financial Position. These amounts have instead been included in Net parent investment as a component of equity. GE’s third-party debt and, unless specifically attributable, the related interest expense, has not been attributed to the Company because the Company is not the legal obligor of the debt and the borrowings are not specifically identifiable to the Company. See Note 22 for further information.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Estimates and Assumptions. The preparation of the combined financial statements in conformity with U.S. GAAP requires management to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions which affect reported amounts and related disclosures in the combined financial statements. We believe these assumptions to be reasonable under the circumstances and although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position, and cash flows.

DISPOSITIONS AND BUSINESSES HEL

DISPOSITIONS AND BUSINESSES HELD FOR SALE	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS AND BUSINESSES HELD FOR SALE	DISPOSITIONS AND BUSINESSES HELD FOR SALE . In 2022, we signed a binding agreement to sell a portion of our Steam Power business within our Power segment to Electricité de France S.A. (EDF). We are working with EDF to complete the sale as soon as possible, subject to regulatory approvals and other closing conditions. Closing the transaction is expected to result in a significant gain. The major components of assets and liabilities of the business held for sale in the Company’s Combined Statement of Financial Position are summarized as follows: ASSETS AND LIABILITIES OF BUSINESS HELD FOR SALE March 31, 2024 December 31, 2023 Cash and cash equivalents $ 72 $ 603 Current receivables, inventories, and contract assets 633 551 Property, plant, and equipment and intangibles – net 236 237 Other assets 52 53 Assets of business held for sale $ 993 $ 1,444 Contract liabilities and deferred income $ 964 $ 1,001 Accounts payable and equipment project payables 218 177 Other liabilities 290 270 Liabilities of business held for sale $ 1,472 $ 1,448

CURRENT AND LONG-TERM RECEIVABL

CURRENT AND LONG-TERM RECEIVABLES	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
CURRENT AND LONG-TERM RECEIVABLES	CURRENT AND LONG-TERM RECEIVABLES CURRENT RECEIVABLES – NET March 31, 2024 December 31, 2023 Customer receivables $ 5,590 $ 5,952 Non-income based tax receivables 1,101 1,048 Supplier advances and other receivables 817 924 Other receivables $ 1,917 $ 1,972 Allowance for credit losses (516) (515) Total current receivables – net $ 6,992 $ 7,409 Activity in the allowance for credit losses related to current receivables for the three months ended March 31, 2024 and 2023, respectively, consists of the following: ALLOWANCE FOR CREDIT LOSSES 2024 2023 Balance as of January 1 $ 515 $ 674 Net additions (releases) charged to costs and expenses (1) (6) Write-offs, net — (24) Foreign exchange and other 2 7 Balance as of March 31 $ 516 $ 651 Sales of customer receivables. From time to time, the Company sells current or long-term receivables to third parties in response to customer-sponsored requests or programs, to facilitate sales, or for risk mitigation purposes. The Company sold current customer receivables to third parties and subsequently collected $221 million and $241 million in the three months ended March 31, 2024 and 2023, respectively. Within these programs, primarily related to our participation in customer-sponsored supply chain finance programs in Wind, the Company has no continuing involvement, fees associated with the transferred receivables are covered by the customer, and cash is received at the original invoice due date. Included in the sales of customer receivables in the three months ended March 31, 2023 was $77 million in our Gas Power business within our Power segment, primarily for risk mitigation purposes. LONG-TERM RECEIVABLES March 31, 2024 December 31, 2023 Long-term customer receivables $ 300 $ 316 Supplier advances 239 243 Non-income based tax receivables 134 136 Other receivables 198 190 Allowance for credit losses (177) (184) Total long-term receivables – net $ 694 $ 701

INVENTORIES, INCLUDING DEFERRED

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS	INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS March 31, 2024 December 31, 2023 Raw materials and work in process $ 5,006 $ 4,685 Finished goods 2,724 2,514 Deferred inventory costs(a) 1,129 1,054 Inventories, including deferred inventory costs $ 8,859 $ 8,253

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT, AND EQUIPMENT March 31, 2024 December 31, 2023 Original cost $ 12,105 $ 11,907 Less: Accumulated depreciation and amortization (7,552) (7,347) Right-of-use operating lease assets 672 668 Property, plant, and equipment – net $ 5,224 $ 5,228 Depreciation and amortization related to property, plant, and equipment was $188 million and $176 million for three months ended March 31, 2024 and 2023, respectively.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
LEASES	LEASES. Our operating lease liabilities, included in All other current liabilities All other liabilities All other current liabilities All other liabilities
LEASES	LEASES. Our operating lease liabilities, included in All other current liabilities All other liabilities All other current liabilities All other liabilities

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL Power Wind Electrification Total Balance as of January 1, 2024 $ 308 $ 3,204 $ 925 $ 4,437 Currency exchange and other 4 (34) (4) (34) Balance as of March 31, 2024 $ 311 $ 3,170 $ 921 $ 4,403 We assess the possibility that a reporting unit’s fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. In the first quarter of 2024, we did not identify any reporting units that required an interim impairment test. Intangible assets. All intangible assets are subject to amortization. Intangible assets decreased $52 million during the three months ended March 31, 2024, primarily as a result of amortization. Amortization expense was $63 million and $55 million in the three months ended March 31, 2024 and 2023, respectively.

CONTRACT AND OTHER DEFERRED ASS

CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME	3 Months Ended
	Mar. 31, 2024
Contractors [Abstract]
CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME	CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME Contract assets reflect revenue recognized on contracts in excess of billings based on contractual terms. Contract liabilities primarily represent cash received from customers under ordinary commercial payment terms in advance of delivery of equipment orders or servicing of customers’ installed base. Contract and other deferred assets increased $252 million in the three months ended March 31, 2024 primarily due to the timing of revenue recognition ahead of billing milestones on equipment and other service agreements, partially offset by decreased contractual service agreement assets related to our Gas Power business within our Power segment. Contract liabilities and deferred income increased $868 million in the three months ended March 31, 2024 primarily due to new collections received in excess of revenue recognition at Power, Wind, and Electrification. Net contractual service agreements decreased primarily due to billings of $1,173 million and net unfavorable changes in estimated profitability of $29 million, partially offset by revenues recognized of $1,174 million. Revenue recognized related to the contract liabilities balance at the beginning of the year was approximately $2,747 million and $2,600 million for the three months ended March 31, 2024 and 2023, respectively. CONTRACT AND OTHER DEFERRED ASSETS As of March 31, 2024 Power Wind Electrification Total Contractual service agreement assets $ 5,167 $ — $ — $ 5,167 Equipment and other service agreement assets 1,693 614 1,105 3,412 Current contract assets $ 6,859 $ 614 $ 1,105 $ 8,579 Non-current contract and other deferred assets(a) 609 13 11 633 Total contract and other deferred assets $ 7,469 $ 627 $ 1,116 $ 9,212 As of December 31, 2023 Power Wind Electrification Total Contractual service agreement assets $ 5,201 $ — $ — $ 5,201 Equipment and other service agreement assets 1,679 392 1,067 3,138 Current contract assets $ 6,880 $ 392 $ 1,067 $ 8,339 Non-current contract and other deferred assets(a) 602 14 5 621 Total contract and other deferred assets $ 7,482 $ 406 $ 1,072 $ 8,960 (a) Primarily represents amounts due from customers at Gas Power for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under contractual service agreements. CONTRACT LIABILITIES AND DEFERRED INCOME As of March 31, 2024 Power Wind Electrification Total Contractual service agreement liabilities $ 1,804 $ — $ — $ 1,804 Equipment and other service agreement liabilities 5,980 5,134 2,664 13,777 Current deferred income 11 207 120 339 Contract liabilities and current deferred income $ 7,795 $ 5,341 $ 2,784 $ 15,919 Non-current deferred income 45 122 29 195 Total contract liabilities and deferred income $ 7,839 $ 5,463 $ 2,813 $ 16,115 As of December 31, 2023 Contractual service agreement liabilities $ 1,810 $ — $ — $ 1,810 Equipment and other service agreement liabilities 5,732 4,819 2,352 12,903 Current deferred income 20 228 113 361 Contract liabilities and current deferred income $ 7,562 $ 5,047 $ 2,465 $ 15,074 Non-current deferred income 48 90 35 173 Total contract liabilities and deferred income $ 7,610 $ 5,137 $ 2,500 $ 15,247 Remaining Performance Obligation . As of March 31, 2024, the aggregate amount of the contracted revenues allocated to our unsatisfied (or partially unsatisfied) performance obligations was $116,293 million. We expect to recognize revenue as we satisfy our remaining performance obligations as follows: (1) Equipment-related remaining performance obligations of $42,210 million of which 45%, 71%, and 93% is expected to be recognized within 1, 2, and 5 years, respectively, and the remaining thereafter. (2) Services-related remaining performance obligations of $74,083 million of which 16%, 52%, 77%, and 91% is expected to be recognized within 1, 5, 10, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as we fulfill the related remaining performance obligations.

CURRENT AND ALL OTHER ASSETS

CURRENT AND ALL OTHER ASSETS	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
CURRENT AND ALL OTHER ASSETS	CURRENT AND ALL OTHER ASSETS. All other current assets primarily include financing receivables, prepaid taxes and deferred charges, and derivative instruments (see Note 18). All other current assets increased $110 million in the three months ended March 31, 2024, primarily due to an increase of prepaid taxes and deferred charges of $79 million. All other assets primarily include pension surplus, long-term receivables (see Note 4), and prepaid taxes and deferred charges. All other assets increased $75 million in the three months ended March 31, 2024.

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS Equity method Equity method income (loss) Three months ended March 31 March 31, 2024 December 31, 2023 2024 2023 Power $ 1,011 $ 1,003 $ 11 $ 11 Wind 47 46 1 (3) Electrification 820 788 30 13 Corporate(a) 1,769 1,718 2 (90) Total $ 3,647 $ 3,555 $ 44 $ (70) (a) Includes renewable energy tax equity investments within our Financial Services business of $1,244 million and $1,227 million as of March 31, 2024 and December 31, 2023, respectively, in limited liability companies that generate renewable energy tax credits. Tax benefits related to these investments of $53 million and $43 million were recognized during the three months ended March 31, 2024 and 2023, respectively, in Provision (benefit) for income taxes in the Combined Statement of Income (Loss). In connection with the Spin-Off, these investments and any tax attributes from historical tax equity investing activity were retained by GE.

ACCOUNTS PAYABLE AND EQUIPMENT

ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES	ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES March 31, 2024 December 31, 2023 Trade payables $ 4,330 $ 4,701 Supply chain finance programs 1,672 1,642 Equipment project payables 1,039 1,096 Non-income based tax payables 468 461 Accounts payable and equipment project payables $ 7,509 $ 7,900

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
POSTRETIREMENT BENEFIT PLANS	POSTRETIREMENT BENEFIT PLANS. GE Vernova sponsored plans, including those allocated to GE Vernova in connection with the Spin-Off, are presented in three categories: principal pension plans, other pension plans, and principal retiree benefit plans. Refer to Note 13 in the audited combined financial statements included in the Information Statement for further information for the year ended December 31, 2023. The components of benefit plans cost (income) other than the service cost are included in the caption Non-operating benefit income in our Combined Statement of Income (Loss). 2024 2023 Three months ended March 31 Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Service cost – operating $ 6 $ 8 $ 1 $ 6 $ 9 $ 2 Interest cost 135 57 9 141 61 10 Expected return on plan assets (184) (84) — (189) (86) — Amortization of net loss (gain) (46) 8 (11) (51) 1 (11) Amortization of prior service cost (credit) 2 (2) (15) 1 (1) (15) Curtailment/settlement gain — — — — (3) — Non-operating benefit costs (income) $ (93) $ (21) $ (17) $ (98) $ (28) $ (16) Net periodic expense (income) $ (87) $ (13) $ (16) $ (92) $ (19) $ (14) Defined Contribution Plan. Expenses associated with our eligible U.S. employees' participation in GE's defined contribution plan represent the employer contributions for GE Vernova employees and were $35 million and $30 million for the three months ended March 31, 2024 and 2023, respectively.

CURRENT AND ALL OTHER LIABILITI

CURRENT AND ALL OTHER LIABILITIES	3 Months Ended
	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
CURRENT AND ALL OTHER LIABILITIES	CURRENT AND ALL OTHER LIABILITIES . All other current liabilities primarily include liabilities related to employee compensation and benefits, equipment projects and other commercial liabilities, and product warranties (see Note 20). All other current liabilities increased $47 million in the three months ended March 31, 2024, primarily due to an increase in employee compensation and benefit liabilities of $189 million, partially offset by decreases in short-term borrowings of $77 million and taxes payable of $74 million. All other liabilities primarily include liabilities related to equipment projects and other commercial liabilities, operating lease liabilities (see Note 7), asset retirement obligations (see Note 20), uncertain and other income taxes, product warranties (see Note 20), and legal liabilities (see Note 20). All other liabilities decreased $93 million in the three months ended March 31, 2024, primarily due to a decrease in uncertain and other income taxes and related liabilities of $121 million.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES. The Company’s income tax provision was prepared using the separate return method. The calculation of income taxes on a separate return basis requires considerable judgment and use of both estimates and allocations. As a result, actual transactions included in the consolidated financial statements of GE may not be included in the GE Vernova combined financial statements. Our income tax rate was (10.4)% and 16.6% for the three months ended March 31, 2024 and 2023, respectively. The effective tax rate for the three months ended March 31, 2024 reflects a tax provision on a pre-tax loss due to taxes in profitable jurisdictions and a valuation allowance on certain deferred tax assets. The effective tax rate for the three months ended March 31, 2023 as compared to the U.S. statutory rate of 21% is primarily reduced by a valuation allowance on certain deferred tax assets. The OECD (Organization for Economic Co-operation and Development) has proposed a global minimum tax of 15% of reported profits (Pillar 2) that has been agreed upon in principle by over 140 countries. During 2023, many countries took steps to incorporate Pillar 2 model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact Pillar 2 slightly differently than the model rules and on different timelines and may adjust domestic tax incentives in response to Pillar 2. Accordingly, we are still evaluating the potential consequences of Pillar 2 on our longer-term financial position. In 2024, we expect to incur insignificant tax expenses in connection with Pillar 2. The IRS is currently auditing GE’s consolidated U.S. income tax returns for 2016-2018. Refer to Note 24 for further information relating to the Tax Matters Agreement.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) Currency translation adjustment Benefit plans Cash flow hedges Total AOCI Balance as of January 1, 2024 $ (1,335) $ 674 $ 26 $ (635) AOCI before reclasses – net of taxes of $(13), $(15), and $—(a) 11 — (5) 7 Reclasses from AOCI – net of taxes of $—, $(1), and $— — (67) 13 (54) Less: AOCI attributable to noncontrolling interests — 2 — 2 Balance as of March 31, 2024 $ (1,324) $ 604 $ 34 $ (686) Balance as of January 1, 2023 $ (1,445) $ 32 $ (43) $ (1,456) Transfer or allocation of benefit plans – net of taxes of $—, $70, and $— — 1,702 — 1,702 AOCI before reclasses – net of taxes of $—, $12, and $— 44 34 12 90 Reclasses from AOCI – net of taxes of $—, $—, and $— 18 (78) 5 (54) Less: AOCI attributable to noncontrolling interests (1) (2) — (3) Balance as of March 31, 2023 $ (1,381) $ 1,692 $ (26) $ 285 (a) Currency translation adjustment includes $39 million of accumulated other comprehensive income (loss) allocated to GE Vernova in connection with the Spin-Off. Common Stock.

OTHER INCOME (EXPENSE) - NET

OTHER INCOME (EXPENSE) - NET	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE) - NET	OTHER INCOME (EXPENSE) – NET Three months ended March 31 2024 2023 Equity method investment income (loss) (Note 11) $ 44 $ (70) Purchases and sales of business interests (3) 2 Derivative instruments (Note 18) (3) (22) Licensing income 11 9 Other – net 25 16 Total other income (expense) – net $ 73 $ (64)

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Loans and Other Receivables. The Company’s financial assets not carried at fair value primarily consist of loan receivables and non-current customer and other receivables. The net carrying amount was $343 million and $328 million as of March 31, 2024 and December 31, 2023, respectively. The estimated fair value was $339 million and $324 million as of March 31, 2024 and December 31, 2023, respectively. All of these assets are considered to be Level 3. Derivatives and Hedging. Our primary objective in executing and holding derivatives is to reduce the earnings and cash flow volatility associated with fluctuations in foreign currency exchange rates and commodity prices over the terms of our customer contracts. These hedge contracts reduce, but do not entirely eliminate, the impact of foreign currency exchange rate and commodity price movements. The Company does not enter into or hold derivative instruments for speculative trading purposes. We use foreign currency contracts to reduce the volatility of cash flows related to forecasted revenues, expenses, assets, and liabilities. These contracts are generally one Cash Flow Hedges. The total amount in AOCI related to cash flow hedges was a net $34 million gain as of March 31, 2024, of which a net gain of $27 million related to our share of AOCI recognized at our non-consolidated joint ventures. We expect to reclassify $63 million of pre-tax net losses associated with designated cash flow hedges to earnings in the next 12 months, contemporaneously with the earnings effects of the related forecasted transactions. The Company reclassified net gains (losses) from AOCI into earnings of $(13) million and $(5) million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the maximum length of time over which we are hedging forecasted transactions was approximately 11 years. Net Investment Hedges. We enter into foreign exchange forwards designated as the hedging instruments in net investment hedging relationships in order to mitigate the foreign currency risk attributable to the translation of the Company’s net investment in certain non USD-functional subsidiaries and/or equity method investees. The total amount in AOCI related to net investment hedges was a net gain of $228 million as of March 31, 2024. The following table presents the gross fair values of our outstanding derivative instruments as of the dates indicated: GROSS FAIR VALUE OF OUTSTANDING DERIVATIVE INSTRUMENTS As of March 31, 2024 Gross Notional All other current assets All other assets All other current liabilities All other liabilities Foreign currency exchange contracts accounted for as hedges $ 4,635 $ 32 $ 104 $ 35 $ 44 Foreign currency exchange contracts 41,004 307 138 310 118 Commodity and other contracts 477 10 21 12 2 Derivatives not accounted for as hedges 41,481 317 159 322 120 Total gross derivatives $ 46,117 $ 349 $ 263 $ 357 $ 164 Netting adjustment(a) $ (274) $ (130) $ (273) $ (130) Net derivatives recognized in the Combined Statement of Financial Position $ 74 $ 133 $ 85 $ 34 As of December 31, 2023 Foreign currency exchange contracts accounted for as hedges $ 5,035 $ 39 $ 91 $ 28 $ 41 Foreign currency exchange contracts 33,832 361 169 364 142 Commodity and other contracts 476 10 8 16 1 Derivatives not accounted for as hedges 34,308 371 177 380 143 Total gross derivatives $ 39,343 $ 410 $ 268 $ 408 $ 184 Netting adjustment(a) $ (334) $ (150) $ (334) $ (150) Net derivatives recognized in the Combined Statement of Financial Position $ 76 $ 118 $ 74 $ 34 (a) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. PRE-TAX GAINS (LOSSES) RECOGNIZED IN OCI RELATED TO CASH FLOW AND NET INVESTMENT HEDGES Three months ended March 31 2024 2023 Cash flow hedges $ 13 $ 8 Net investment hedges 2 (5) The table below shows the effect of our derivative financial instruments in the Combined Statement of Income (Loss): 2024 Three months ended March 31 Sales of equipment and services Cost of equipment and services Selling, general, and administrative expense Other income (expense) – net Total amount of income and expense in the Combined Statement of Income (Loss) $ 7,260 $ 6,109 $ 1,202 $ 73 Foreign currency exchange contracts (4) 9 — — Interest rate contracts — — — — Effects of cash flow hedges $ (4) $ 9 $ — $ — Foreign currency exchange contracts — 29 (5) (3) Commodity and other contracts — — (11) — Effect of derivatives not designated as hedges $ — $ 29 $ (16) $ (3) 2023 Three months ended March 31 Sales of equipment and services Cost of equipment and services Selling, general, and administrative expense Other income (expense) – net Total amount of income and expense in the Combined Statement of Income (Loss) $ 6,822 $ 5,903 $ 1,186 $ (64) Foreign currency exchange contracts (4) — — — Interest rate contracts — — — — Effects of cash flow hedges $ (4) $ — $ — $ — Foreign currency exchange contracts 2 28 (1) (22) Commodity and other contracts — 10 — — Effect of derivatives not designated as hedges $ 2 $ 38 $ (1) $ (22) The amount excluded for cash flow hedges was a gain (loss) of $1 million and $(5) million for the three months ended March 31, 2024 and 2023, respectively. This amount is recognized in Sales of equipment, Sales of services, Cost of equipment, and Cost of services in our Combined Statement of Income (Loss).

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2024
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES . In our Combined Statement of Financial Position, we have assets of $120 million and $122 million and liabilities of $153 million and $156 million as of March 31, 2024 and December 31, 2023, respectively, from consolidated variable interest entities (VIEs). These entities were created to help our customers facilitate or finance the purchase of GE Vernova equipment and services, and to manage our insurance exposure through an insurance captive, and have no features that could expose us to losses that would significantly exceed the difference between the consolidated assets and liabilities. Our investments in unconsolidated VIEs were $1,349 million and $1,323 million as of March 31, 2024 and December 31, 2023, respectively. Of these investments, $1,293 million and $1,272 million were owned by Financial Services, substantially all related to renewable energy tax equity investments, as of March 31, 2024 and December 31, 2023, respectively. See Note 11 for further information. Our maximum exposure to loss in respect of unconsolidated VIEs is increased by our commitments to make additional investments in these entities described in Note 20.

COMMITMENTS, GUARANTEES, PRODUC

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES	COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES Commitments. We had total investment commitments of $78 million and unfunded lending commitments of $547 million at March 31, 2024. The commitments primarily consist of obligations to make investments in or provide funding to renewable tax equity vehicles by Financial Services. See Note 19 for further information. Guarantees. As of March 31, 2024, we were committed under the following guarantee arrangements: Credit support. We have provided $888 million of credit support on behalf of certain customers or associated companies, predominantly joint ventures and partnerships, using arrangements such as standby letters of credit and performance guarantees, and a line of credit to support our consolidated subsidiaries. The liability for such credit support was $10 million. In addition, GE has provided parent company guarantees in certain jurisdictions. See Note 22 for further information. Indemnification agreements. We have $139 million of indemnification commitments, including representations and warranties in sales of business assets, for which we recorded a liability of $11 million. Product Warranties. We provide for estimated product warranty expenses when we sell the related products. Because warranty estimates are forecasts that are based on the best available information, mostly historical claims experience, claims costs may differ from amounts provided. The liability for product warranties was $1,361 million and $1,414 million as of March 31, 2024 and December 31, 2023, respectively. Legal Matters. In the normal course of our business, we are involved from time to time in various arbitrations, class actions, commercial litigation, investigations, and other legal, regulatory, or governmental actions, including the significant matters described below that could have a material impact on our results of operations. In many proceedings, including the specific matters described below, it is inherently difficult to determine whether any loss is probable or even reasonably possible or to estimate the size or range of the possible loss, and accruals for legal matters are not recorded until a loss for a particular matter is considered probable and reasonably estimable. Given the nature of legal matters and the complexities involved, it is often difficult to predict and determine a meaningful estimate of loss or range of loss until we know, among other factors, the particular claims involved, the likelihood of success of our defenses to those claims, the damages or other relief sought, how discovery or other procedural considerations will affect the outcome, the settlement posture of other parties, and other factors that may have a material effect on the outcome. For these matters, unless otherwise specified, we do not believe it is possible to provide a meaningful estimate of loss at this time. Moreover, it is not uncommon for legal matters to be resolved over many years, during which time relevant developments and new information must be continuously evaluated. Alstom legacy legal matters. In November 2015, we acquired the power and grid businesses of Alstom, which prior to the acquisition was the subject of significant cases involving anti-competitive activities and improper payments. The estimated liability balance was $391 million and $393 million at March 31, 2024 and December 31, 2023, respectively, for legal and compliance matters related to the legacy business practices that were the subject of cases in various jurisdictions. Allegations in these cases relate to claimed anti-competitive conduct or improper payments in the pre-acquisition period as the source of legal violations or damages. Given the significant litigation and compliance activity related to these matters and our ongoing efforts to resolve them, it is difficult to assess whether the disbursements will ultimately be consistent with the estimated liability established. The estimation of this liability may not reflect the full range of uncertainties and unpredictable outcomes inherent in litigation and investigations of this nature, and at this time we are unable to develop a meaningful estimate of the range of reasonably possible additional losses beyond the amount of this estimated liability. Factors that can affect the ultimate amount of losses associated with these and related matters include the way cooperation is assessed and valued, prosecutorial discretion in the determination of damages, formulas for determining disgorgement, fines and/or penalties, the duration and amount of legal and investigative resources applied, political and social influences within each jurisdiction, and tax consequences of any settlements or previous deductions, among other considerations. Actual losses arising from claims in these and related matters could exceed the amount provided. Environmental and Asset Retirement Obligations. Our operations involve the use, disposal, and cleanup of substances regulated under environmental protection laws and nuclear decommissioning regulations. We have obligations for ongoing and future environmental remediation activities and may incur additional liabilities in connection with previously remediated sites. Additionally, like many other industrial companies, we and our subsidiaries are defendants in various lawsuits related to alleged worker exposure to asbestos or other hazardous materials. Liabilities for environmental remediation, nuclear decommissioning, and worker exposure claims exclude possible insurance recoveries. It is reasonably possible that our exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology, and information related to individual sites and lawsuits, such amounts are not reasonably estimable. Our reserves related to environmental remediation and worker exposure claims recorded in All other liabilities were $125 million and $127 million as of March 31, 2024 and December 31, 2023, respectively. We record asset retirement obligations associated with the retirement of tangible long-lived assets as a liability in the period in which the obligation is incurred and its fair value can be reasonably estimated. These obligations primarily represent nuclear decommissioning, legal obligations to return leased premises to their initial state, or dismantle and repair specific alterations for certain leased sites. The liability is measured at the present value of the obligation when incurred and is adjusted in subsequent periods. Corresponding asset retirement costs are capitalized as part of the carrying value of the related long-lived assets and depreciated over the asset’s useful life. Our asset retirement obligations were $581 million and $581 million as of March 31, 2024 and December 31, 2023, respectively, and are recorded in All other liabilities in our Combined Statement of Financial Position. Of these amounts, $518 million and $519 million were related to nuclear decommissioning obligations. Changes in the liability balance due to settlement, accretion, and revisions in fair value were not material for the three months ended March 31, 2024.

RESTRUCTURING AND OTHER CHARGES

RESTRUCTURING AND OTHER CHARGES	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES	RESTRUCTURING AND OTHER CHARGES. This table is inclusive of all restructuring charges and the charges are shown below for the business where they originated. Separately, in our reported segment results, major restructuring programs are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges. See Note 23 for further information. RESTRUCTURING AND OTHER CHARGES Three months ended March 31 2024 2023 Workforce reductions $ 76 $ 45 Plant closures and associated costs and other asset write-downs 66 57 Acquisition/disposition net charges and other 5 10 Total restructuring and other charges $ 147 $ 113 Cost of equipment and services $ 104 $ 32 Selling, general, and administrative expenses 42 80 Total restructuring and other charges $ 147 $ 113 Power $ 48 $ 21 Wind 89 52 Electrification 10 30 Other — 11 Total restructuring and other charges(a) $ 147 $ 113 (a) Includes $68 million and $66 million primarily in non-cash impairment, accelerated depreciation, and other charges for the three months ended March 31, 2024 and 2023, respectively, not reflected in the liability table below. Liabilities associated with restructuring activities were recorded in All other current liabilities, All other liabilities, and Non-current compensation and benefits. RESTRUCTURING LIABILITIES 2024 2023 Balance as of January 1 $ 276 $ 283 Additions 78 46 Payments (61) (67) Foreign exchange and other (4) 5 Balance as of March 31 $ 289 $ 267

RELATED PARTIES

RELATED PARTIES	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Corporate Allocations. GE historically provided the Company with significant corporate, infrastructure, and shared services. Some of these services continue to be provided by GE to the Company on a temporary basis following the Spin-Off under the Transition Services Agreement. Accordingly, as described in Note 1, certain GE Corporate Costs have been charged to the Company based on allocation methodologies as follows: a. Centralized services such as public relations, investor relations, treasury and cash management, executive management, security, government relations, community outreach, and corporate internal audit services were charged to the Company on a pro rata basis of GE’s estimates of each business’s usage at the beginning of the fiscal year and were recorded in Selling, general, and administrative expenses. Costs of $19 million for the three months ended March 31, 2023 were recorded in the Combined Statement of Income (Loss). Costs allocated to the Company for the three months ended March 31, 2024 were not significant as GE Vernova has established standalone capabilities for such services. b. Information technology, finance, insurance, research, supply chain, human resources, tax, and facilities activities were charged to the Company based on headcount, revenue, or other allocation methodologies. Costs for these services of $100 million and $184 million were charged to the Company for the three months ended March 31, 2024 and 2023, respectively, which are primarily included in Selling, general, and administrative expenses and Research and development expenses in the Combined Statement of Income (Loss). c. Costs associated with employee medical insurance totaling $30 million and $28 million for the three months ended March 31, 2024 and 2023, respectively, were charged to the Company based on employee headcount and are recorded in Cost of equipment, Cost of services, Selling, general, and administrative expenses, or Research and development expenses in the Combined Statement of Income (Loss) based on the employee population. Additionally, GE granted various employee benefits to its employees, including prior to the Spin-Off to those of the Company, under the GE Long-Term Incentive Plan. These benefits primarily included stock options and restricted stock units. Compensation expense associated with this plan was $34 million and $33 million for the three months ended March 31, 2024 and 2023, respectively, which is included primarily in Selling, general, and administrative expenses in the Combined Statement of Income (Loss). These costs are charged directly to the Company based on the specific employees receiving awards. Finally, while GE’s third-party debt has not been attributed to the Company, GE allocated a portion of interest expense related to its third-party debt for funding provided by GE to the Company for certain investments held by Financial Services. The interest was allocated based on the GE-funded ending net investment position each reporting period. Interest of $7 million and $9 million is included in Interest and other financial charges – net in the Combined Statement of Income (Loss) for the three months ended March 31, 2024 and 2023, respectively. Management believes that the expense and cost allocations have been determined on a basis that is a reasonable reflection of the utilization of services provided or the benefit received by the Company. The amounts that would have been, or will be incurred, on a stand-alone basis could materially differ from the amounts allocated due to economies of scale, difference in management judgment, a requirement for more or fewer employees, or other factors. Management does not believe, however, that it is practicable to estimate what these expenses would have been had the Company operated as an independent entity, including any expenses associated with obtaining any of these services from unaffiliated entities. In addition, the future results of operations, financial position, and cash flows could differ materially from the historical results presented herein. Parent Company Credit Support. GE provided the Company with parent credit support in certain jurisdictions. To support the Company in selling products and services globally, GE often entered into contracts on behalf of GE Vernova or issued parent company guarantees or trade finance instruments supporting the performance of what were subsidiary legal entities transacting directly with customers, in addition to providing similar credit support for some non-customer related activities of GE Vernova. There are no known instances historically where payments or performance from GE were required under parent company guarantees relating to GE Vernova customer contracts. Cash Management. As part of GE, the Company historically participated in centralized GE Treasury programs. This arrangement is not reflective of the manner in which the Company would have financed its operations had it been a stand-alone business separate from GE during the periods presented. Long-term intercompany financing, including strategic financing, and centralized cash management arrangements were used to fund expansion or certain working capital needs. All adjustments relating to certain transactions among the Company, GE and GE entities, which include the transfer of the balance of cash to GE, transfer of the balance of cash held in centralized cash management arrangements to GE, settlement of certain intercompany debt between the Company and GE or GE entities, and pushdown of all costs of doing business that were paid on behalf of the Company by GE or GE entities, are excluded from the asset and liability balances in the Combined Statement of Financial Position and are reported within Net parent investment as a component of equity. Transfer of Tax Credits to GE. Under the Inflation Reduction Act of 2022, which went into effect in 2023, we generate advanced manufacturing credits in our Wind business. These credits are transferrable and are not reliant on a tax liability to be realized. We recognized advance manufacturing credits of $23 million and $26 million for the three months ended March 31, 2024 and 2023, respectively. During the first quarter of 2024, we received cash of $249 million from GE for credits generated since the credits became available in 2023. Aero Alliance. Aero Alliance is our joint venture with Baker Hughes Company that supports our customers through the fulfillment of aeroderivative engines, spare parts, repairs, and maintenance services. Purchases of parts and services from the joint venture were $151 million and $118 million for the three months ended March 31, 2024 and 2023, respectively. The Company owed Aero Alliance $56 million and $34 million as of March 31, 2024 and December 31, 2023, respectively. These amounts have been recorded in Due to related parties on the Combined Statement of Financial Position. Prolec GE. Prolec GE is our joint venture with Xignux, which manufactures a wide range of transformers available for generation, transmission, and distribution applications. To fund a historical acquisition, Prolec GE issued notes that include certain change in control provisions that allow the note holders to accept prepayment of such notes by Prolec GE as a result of the GE Vernova Spin-Off. If some or all of the note holders accept to receive prepayment of the outstanding notes, Prolec GE will need to refinance the notes. The Company intends to assist Prolec GE in refinancing the notes with another third party lender. However, the Company may be required to provide financing to Prolec GE to satisfy the prepayment conditions if other refinancing options are not obtained prior to the note holders calling such notes. The maximum commitment as of March 31, 2024 is $300 million. GE Vernova is obligated to pay any reasonable costs incurred by Prolec GE to obtain consents from note holders confirming a change in control without redemption, or to refinance the notes. Financial Services Investments.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The following table disaggregates total revenues to external customers for sales of equipment and sales of services by segment: Three months ended March 31 2024 2023 Equipment Services Total Equipment Services Total Power $ 1,185 $ 2,823 $ 4,007 $ 1,165 $ 2,615 $ 3,780 Wind 1,227 407 1,634 1,414 336 1,750 Electrification 1,203 403 1,606 908 381 1,289 Other 2 10 12 2 — 3 Total revenues $ 3,617 $ 3,642 $ 7,260 $ 3,489 $ 3,333 $ 6,822 Intersegment sales were $78 million and $90 million for the three months ended March 31, 2024 and 2023, respectively. Intersegment revenues are recognized on the same basis of accounting as such revenue is recognized on a combined basis. TOTAL SEGMENT REVENUES BY BUSINESS UNIT Three months ended March 31 2024 2023 Gas Power $ 3,041 $ 2,882 Nuclear Power 229 221 Hydro Power 181 178 Steam Power 584 540 Power $ 4,035 $ 3,821 Onshore Wind $ 1,059 $ 1,422 Offshore Wind 441 249 LM Wind Power 139 80 Wind $ 1,639 $ 1,751 Grid Solutions $ 1,109 $ 835 Power Conversion 235 183 Electrification Software 206 218 Solar & Storage Solutions 101 95 Electrification $ 1,651 $ 1,331 Total segment revenues $ 7,325 $ 6,903 SEGMENT EBITDA Three months ended March 31 2024 2023 Power $ 345 $ 177 Wind (173) (260) Electrification 66 (30) $ 238 $ (113) Corporate and other(a) (49) (72) Restructuring and other charges (148) (110) Purchases and sales of business interests (5) — Non-operating benefit income 134 139 Depreciation and amortization(b) (209) (204) Interest and other financial charges – net (4) (9) Benefit (provision) for income taxes (64) 22 Net income (loss) $ (106) $ (346) (a) Includes interest and other financial charges of $10 million and $12 million and benefit for income taxes of $54 million and $47 million for the three months ended March 31, 2024 and 2023, respectively, related to the Financial Services business as this business is managed on an after-tax basis due to its strategic investments in renewable energy tax equity vehicles. (b) Excludes depreciation and amortization expense related to Restructuring and other charges.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	24. SUBSEQUENT EVENTS. On April 2, 2024, the Spin-Off was completed through the Distribution and the Company began trading as an independent, publicly traded company under the stock symbol “GEV” on the New York Stock Exchange. In connection with the Spin-Off, the Company entered into or adopted agreements that provide a framework for the relationship between the Company and GE, including, but not limited to the following: • Separation and Distribution Agreement – sets forth the principal actions to be taken in connection with the Spin-Off, including the transfer of assets and assumption of liabilities, and establishes certain rights and obligations between the Company and GE following the Distribution, including procedures with respect to claims subject to indemnification and related matters. • Transition Services Agreement – governs all matters relating to the provision of services between the Company and GE on a transitional basis. The services the Company receives include support for digital technology, human resources, supply chain, finance, and real estate services, among others. The services are generally intended to be provided for a period no longer than two years following the Spin-Off. • Tax Matters Agreement (TMA) – governs the respective rights, responsibilities, and obligations between the Company and GE with respect to all tax matters (excluding employee-related taxes covered under the Employee Matters Agreement), in addition to certain restrictions which generally prohibit us from taking or failing to take any action in the two-year period following the Distribution that would prevent the Distribution from qualifying as tax-free for U.S. federal income tax purposes, including limitations on our ability to pursue certain strategic transactions. The TMA specifies the portion of tax liability for which the Company will bear contractual responsibility, and the Company and GE will each agree to indemnify each other against any amounts for which such indemnified party is not responsible. • Employee Matters Agreement – addresses certain employment, compensation, and benefits matters, including the allocation of employees between the Company and GE and the allocation and treatment of certain assets and liabilities relating to our employees and former employees. • Trademark License Agreement – governs the rights and obligations between the Company and GE related to the use of certain of GE's trademarks. • Intellectual Property Cross License Agreement – governs the rights and obligations between the Company and GE related to the allocation, license, and use of certain intellectual property rights, including certain patent rights. • Real Estate Matters Agreement – governs the allocation and transfer of real estate between the Company and GE and the colocation of the Company and GE following the Spin-Off. • Framework Investment Agreement – sets forth, as between the Company and GE, the treatment of certain existing tax equity investments and certain existing commitments to fund tax equity and tax incentivized investments in U.S. onshore wind energy related projects that were arranged by our Financial Services business as well as under which new future tax equity investments will be made over the two years following the Spin-Off. • Adoption of Incentive Plans – adopted (a) the GE Vernova Inc. 2024 Long-Term Incentive Plan (the GE Vernova LTIP) and (b) the GE Vernova Inc. Mirror 2022 Long-Term Incentive Plan and the GE Vernova Inc. Mirror 2007 Long-Term Incentive Plan (collectively, the GE Vernova Mirror LTIPs), in each case, effective as of the Distribution Date. The GE Vernova Mirror LTIPs were adopted to assume the converted awards of stock options and restricted stock units (including performance stock units) held by employees of GE Vernova or one of its subsidiaries, including those held by our executive officers, in each case as a result of the Spin-Off. Grants of equity awards made after the Spin-Off to our executive officers and other employees will be made under the GE Vernova LTIP. The GE Vernova LTIP and the GE Vernova Mirror LTIPs became effective as of the Distribution Date. Following the Spin-Off, GE has remaining contracts entered into on behalf of GE Vernova, parent company guarantees, surety bonds, letters of credit, or similar instruments of credit support currently provided by or through GE or any of its subsidiaries for the benefit of us or any of our subsidiaries and similar credit support for non-customer related activities of GE Vernova (collectively, the GE credit support). Under the Separation and Distribution Agreement, the Company is obligated to use reasonable best efforts to terminate or replace, and obtain a full release of GE’s obligations under, all such credit support. Beginning in 2025, we will pay a quarterly fee to GE based on amounts related to the GE credit support. We are subject to other contractual restrictions and requirements while GE continues to be obligated under such credit support on behalf of GE Vernova. While GE remains obligated under a contract or instrument, GE Vernova will be obligated to indemnify GE for credit support related payments that GE is required to make. In connection with the Spin-Off, GE contributed cash of $515 million to GE Vernova to fund future operations and transferred restricted cash of $325 million to us such that the Company’s cash balance upon completion of the Spin-Off was approximately $4,200 million. The additional cash of $325 million transferred is restricted in connection with certain legal matters related to legacy GE operations, and a corresponding indemnification liability was recorded at the time of Spin-Off that reflects the use of these funds to settle any associated obligations and the return of any remaining cash to GE in a future reporting period once resolved. On April 2, 2024, the Company entered into a credit agreement providing for a five-year unsecured revolving credit facility in an aggregate committed amount of $3,000 million. The facility was not utilized at the closing of the Spin-Off, however, we expect to use this facility to fund our near-term intra-quarter working capital needs. In addition, the Company entered into a standby letter of credit and bank guarantee facility providing for a five-year trade finance facility in an aggregate committed amount of $3,000 million. The trade finance facility is not expected to be utilized and will not provide direct liquidity to GE Vernova.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to GE Vernova	$ (130)	$ (315)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation . The unaudited combined financial statements have been derived from the consolidated financial statements and accounting records of GE, including the historical cost basis of assets and liabilities comprising the Company, as well as the historical revenues, direct costs, and allocations of indirect costs attributable to the operations of the Company, using the historical accounting policies applied by GE. These unaudited combined financial statements do not purport to reflect what the results of operations, comprehensive income, financial position, or cash flows would have been had the Company operated as a separate, stand-alone entity during the periods presented. We have prepared the accompanying unaudited combined financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to interim financial statements. Accordingly, certain information related to our significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted. These unaudited combined financial statements reflect, in the opinion of management, all material adjustments (which include only normally recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations, and cash flows for the periods presented. These unaudited combined financial statements should be read in conjunction with our audited combined financial statements, corresponding notes, and significant accounting policies for the year ended December 31, 2023, included in our information statement dated March 8, 2024, which was furnished as Exhibit 99.1 to a Current Report on Form 8-K furnished with the SEC on March 8, 2024 (the Information Statement). The information presented in tables throughout the footnotes is presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions.
Consolidation	All intercompany balances and transactions within the Company have been eliminated in the combined financial statements. As described in Note 22, transactions between the Company and GE have been included in these combined financial statements. Certain financing transactions with GE are deemed to have been settled immediately through Net parent investment in the Combined Statement of Financial Position and are accounted for as a financing activity in the Combined Statement of Cash Flows as Transfers from (to) Parent. The Combined Statement of Financial Position reflects all of the assets and liabilities of GE that are specifically identifiable as being directly attributable to the Company, including Net parent investment as a component of equity. Net parent investment represents GE’s historical investment in the Company and includes accumulated net income and losses attributable to the Company and the net effect of transactions with GE and its subsidiaries. GE used a centralized approach to cash management and financing of its operations. These arrangements may not be reflective of the way the Company would have financed its operations had it been a separate, stand-alone entity during the periods presented. The GE centralized cash management arrangements are excluded from the asset and liability balances in the Combined Statement of Financial Position. These amounts have instead been included in Net parent investment as a component of equity. GE’s third-party debt and, unless specifically attributable, the related interest expense, has not been attributed to the Company because the Company is not the legal obligor of the debt and the borrowings are not specifically identifiable to the Company. See Note 22 for further information.
Estimates and Assumptions	Estimates and Assumptions. The preparation of the combined financial statements in conformity with U.S. GAAP requires management to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions which affect reported amounts and related disclosures in the combined financial statements. We believe these assumptions to be reasonable under the circumstances and although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position, and cash flows.

DISPOSITIONS AND BUSINESSES H_2

DISPOSITIONS AND BUSINESSES HELD FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial Information for Assets and Liabilities of Businesses Held for Sale	The major components of assets and liabilities of the business held for sale in the Company’s Combined Statement of Financial Position are summarized as follows: ASSETS AND LIABILITIES OF BUSINESS HELD FOR SALE March 31, 2024 December 31, 2023 Cash and cash equivalents $ 72 $ 603 Current receivables, inventories, and contract assets 633 551 Property, plant, and equipment and intangibles – net 236 237 Other assets 52 53 Assets of business held for sale $ 993 $ 1,444 Contract liabilities and deferred income $ 964 $ 1,001 Accounts payable and equipment project payables 218 177 Other liabilities 290 270 Liabilities of business held for sale $ 1,472 $ 1,448

CURRENT AND LONG-TERM RECEIVA_2

CURRENT AND LONG-TERM RECEIVABLES (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Receivables	CURRENT RECEIVABLES – NET March 31, 2024 December 31, 2023 Customer receivables $ 5,590 $ 5,952 Non-income based tax receivables 1,101 1,048 Supplier advances and other receivables 817 924 Other receivables $ 1,917 $ 1,972 Allowance for credit losses (516) (515) Total current receivables – net $ 6,992 $ 7,409 Activity in the allowance for credit losses related to current receivables for the three months ended March 31, 2024 and 2023, respectively, consists of the following: ALLOWANCE FOR CREDIT LOSSES 2024 2023 Balance as of January 1 $ 515 $ 674 Net additions (releases) charged to costs and expenses (1) (6) Write-offs, net — (24) Foreign exchange and other 2 7 Balance as of March 31 $ 516 $ 651 LONG-TERM RECEIVABLES March 31, 2024 December 31, 2023 Long-term customer receivables $ 300 $ 316 Supplier advances 239 243 Non-income based tax receivables 134 136 Other receivables 198 190 Allowance for credit losses (177) (184) Total long-term receivables – net $ 694 $ 701

INVENTORIES, INCLUDING DEFERR_2

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	March 31, 2024 December 31, 2023 Raw materials and work in process $ 5,006 $ 4,685 Finished goods 2,724 2,514 Deferred inventory costs(a) 1,129 1,054 Inventories, including deferred inventory costs $ 8,859 $ 8,253

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	March 31, 2024 December 31, 2023 Original cost $ 12,105 $ 11,907 Less: Accumulated depreciation and amortization (7,552) (7,347) Right-of-use operating lease assets 672 668 Property, plant, and equipment – net $ 5,224 $ 5,228

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	GOODWILL Power Wind Electrification Total Balance as of January 1, 2024 $ 308 $ 3,204 $ 925 $ 4,437 Currency exchange and other 4 (34) (4) (34) Balance as of March 31, 2024 $ 311 $ 3,170 $ 921 $ 4,403

CONTRACT AND OTHER DEFERRED A_2

CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME (Tables)	3 Months Ended
	Mar. 31, 2024
Contractors [Abstract]
Schedule of Contract with Customer, Asset and Liability	CONTRACT AND OTHER DEFERRED ASSETS As of March 31, 2024 Power Wind Electrification Total Contractual service agreement assets $ 5,167 $ — $ — $ 5,167 Equipment and other service agreement assets 1,693 614 1,105 3,412 Current contract assets $ 6,859 $ 614 $ 1,105 $ 8,579 Non-current contract and other deferred assets(a) 609 13 11 633 Total contract and other deferred assets $ 7,469 $ 627 $ 1,116 $ 9,212 As of December 31, 2023 Power Wind Electrification Total Contractual service agreement assets $ 5,201 $ — $ — $ 5,201 Equipment and other service agreement assets 1,679 392 1,067 3,138 Current contract assets $ 6,880 $ 392 $ 1,067 $ 8,339 Non-current contract and other deferred assets(a) 602 14 5 621 Total contract and other deferred assets $ 7,482 $ 406 $ 1,072 $ 8,960 (a) Primarily represents amounts due from customers at Gas Power for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under contractual service agreements. CONTRACT LIABILITIES AND DEFERRED INCOME As of March 31, 2024 Power Wind Electrification Total Contractual service agreement liabilities $ 1,804 $ — $ — $ 1,804 Equipment and other service agreement liabilities 5,980 5,134 2,664 13,777 Current deferred income 11 207 120 339 Contract liabilities and current deferred income $ 7,795 $ 5,341 $ 2,784 $ 15,919 Non-current deferred income 45 122 29 195 Total contract liabilities and deferred income $ 7,839 $ 5,463 $ 2,813 $ 16,115 As of December 31, 2023 Contractual service agreement liabilities $ 1,810 $ — $ — $ 1,810 Equipment and other service agreement liabilities 5,732 4,819 2,352 12,903 Current deferred income 20 228 113 361 Contract liabilities and current deferred income $ 7,562 $ 5,047 $ 2,465 $ 15,074 Non-current deferred income 48 90 35 173 Total contract liabilities and deferred income $ 7,610 $ 5,137 $ 2,500 $ 15,247

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Equity method Equity method income (loss) Three months ended March 31 March 31, 2024 December 31, 2023 2024 2023 Power $ 1,011 $ 1,003 $ 11 $ 11 Wind 47 46 1 (3) Electrification 820 788 30 13 Corporate(a) 1,769 1,718 2 (90) Total $ 3,647 $ 3,555 $ 44 $ (70) (a) Includes renewable energy tax equity investments within our Financial Services business of $1,244 million and $1,227 million as of March 31, 2024 and December 31, 2023, respectively, in limited liability companies that generate renewable energy tax credits. Tax benefits related to these investments of $53 million and $43 million were recognized during the three months ended March 31, 2024 and 2023, respectively, in Provision (benefit) for income taxes in the Combined Statement of Income (Loss). In connection with the Spin-Off, these investments and any tax attributes from historical tax equity investing activity were retained by GE.

ACCOUNTS PAYABLE AND EQUIPMEN_2

ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Equipment Project Payables	March 31, 2024 December 31, 2023 Trade payables $ 4,330 $ 4,701 Supply chain finance programs 1,672 1,642 Equipment project payables 1,039 1,096 Non-income based tax payables 468 461 Accounts payable and equipment project payables $ 7,509 $ 7,900

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of benefit plans cost (income) other than the service cost are included in the caption Non-operating benefit income in our Combined Statement of Income (Loss). 2024 2023 Three months ended March 31 Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Service cost – operating $ 6 $ 8 $ 1 $ 6 $ 9 $ 2 Interest cost 135 57 9 141 61 10 Expected return on plan assets (184) (84) — (189) (86) — Amortization of net loss (gain) (46) 8 (11) (51) 1 (11) Amortization of prior service cost (credit) 2 (2) (15) 1 (1) (15) Curtailment/settlement gain — — — — (3) — Non-operating benefit costs (income) $ (93) $ (21) $ (17) $ (98) $ (28) $ (16) Net periodic expense (income) $ (87) $ (13) $ (16) $ (92) $ (19) $ (14)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Currency translation adjustment Benefit plans Cash flow hedges Total AOCI Balance as of January 1, 2024 $ (1,335) $ 674 $ 26 $ (635) AOCI before reclasses – net of taxes of $(13), $(15), and $—(a) 11 — (5) 7 Reclasses from AOCI – net of taxes of $—, $(1), and $— — (67) 13 (54) Less: AOCI attributable to noncontrolling interests — 2 — 2 Balance as of March 31, 2024 $ (1,324) $ 604 $ 34 $ (686) Balance as of January 1, 2023 $ (1,445) $ 32 $ (43) $ (1,456) Transfer or allocation of benefit plans – net of taxes of $—, $70, and $— — 1,702 — 1,702 AOCI before reclasses – net of taxes of $—, $12, and $— 44 34 12 90 Reclasses from AOCI – net of taxes of $—, $—, and $— 18 (78) 5 (54) Less: AOCI attributable to noncontrolling interests (1) (2) — (3) Balance as of March 31, 2023 $ (1,381) $ 1,692 $ (26) $ 285 (a) Currency translation adjustment includes $39 million of accumulated other comprehensive income (loss) allocated to GE Vernova in connection with the Spin-Off.

OTHER INCOME (EXPENSE) - NET (T

OTHER INCOME (EXPENSE) - NET (Tables)	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income (Expense)	Three months ended March 31 2024 2023 Equity method investment income (loss) (Note 11) $ 44 $ (70) Purchases and sales of business interests (3) 2 Derivative instruments (Note 18) (3) (22) Licensing income 11 9 Other – net 25 16 Total other income (expense) – net $ 73 $ (64)

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Assets	The following table presents the gross fair values of our outstanding derivative instruments as of the dates indicated: GROSS FAIR VALUE OF OUTSTANDING DERIVATIVE INSTRUMENTS As of March 31, 2024 Gross Notional All other current assets All other assets All other current liabilities All other liabilities Foreign currency exchange contracts accounted for as hedges $ 4,635 $ 32 $ 104 $ 35 $ 44 Foreign currency exchange contracts 41,004 307 138 310 118 Commodity and other contracts 477 10 21 12 2 Derivatives not accounted for as hedges 41,481 317 159 322 120 Total gross derivatives $ 46,117 $ 349 $ 263 $ 357 $ 164 Netting adjustment(a) $ (274) $ (130) $ (273) $ (130) Net derivatives recognized in the Combined Statement of Financial Position $ 74 $ 133 $ 85 $ 34 As of December 31, 2023 Foreign currency exchange contracts accounted for as hedges $ 5,035 $ 39 $ 91 $ 28 $ 41 Foreign currency exchange contracts 33,832 361 169 364 142 Commodity and other contracts 476 10 8 16 1 Derivatives not accounted for as hedges 34,308 371 177 380 143 Total gross derivatives $ 39,343 $ 410 $ 268 $ 408 $ 184 Netting adjustment(a) $ (334) $ (150) $ (334) $ (150) Net derivatives recognized in the Combined Statement of Financial Position $ 76 $ 118 $ 74 $ 34
Schedule of Fair Value of Derivative Liabilities	The following table presents the gross fair values of our outstanding derivative instruments as of the dates indicated: GROSS FAIR VALUE OF OUTSTANDING DERIVATIVE INSTRUMENTS As of March 31, 2024 Gross Notional All other current assets All other assets All other current liabilities All other liabilities Foreign currency exchange contracts accounted for as hedges $ 4,635 $ 32 $ 104 $ 35 $ 44 Foreign currency exchange contracts 41,004 307 138 310 118 Commodity and other contracts 477 10 21 12 2 Derivatives not accounted for as hedges 41,481 317 159 322 120 Total gross derivatives $ 46,117 $ 349 $ 263 $ 357 $ 164 Netting adjustment(a) $ (274) $ (130) $ (273) $ (130) Net derivatives recognized in the Combined Statement of Financial Position $ 74 $ 133 $ 85 $ 34 As of December 31, 2023 Foreign currency exchange contracts accounted for as hedges $ 5,035 $ 39 $ 91 $ 28 $ 41 Foreign currency exchange contracts 33,832 361 169 364 142 Commodity and other contracts 476 10 8 16 1 Derivatives not accounted for as hedges 34,308 371 177 380 143 Total gross derivatives $ 39,343 $ 410 $ 268 $ 408 $ 184 Netting adjustment(a) $ (334) $ (150) $ (334) $ (150) Net derivatives recognized in the Combined Statement of Financial Position $ 76 $ 118 $ 74 $ 34
Schedule of Derivative Instruments in OCI	PRE-TAX GAINS (LOSSES) RECOGNIZED IN OCI RELATED TO CASH FLOW AND NET INVESTMENT HEDGES Three months ended March 31 2024 2023 Cash flow hedges $ 13 $ 8 Net investment hedges 2 (5)
Schedule of Derivative Instruments in Earnings	The table below shows the effect of our derivative financial instruments in the Combined Statement of Income (Loss): 2024 Three months ended March 31 Sales of equipment and services Cost of equipment and services Selling, general, and administrative expense Other income (expense) – net Total amount of income and expense in the Combined Statement of Income (Loss) $ 7,260 $ 6,109 $ 1,202 $ 73 Foreign currency exchange contracts (4) 9 — — Interest rate contracts — — — — Effects of cash flow hedges $ (4) $ 9 $ — $ — Foreign currency exchange contracts — 29 (5) (3) Commodity and other contracts — — (11) — Effect of derivatives not designated as hedges $ — $ 29 $ (16) $ (3) 2023 Three months ended March 31 Sales of equipment and services Cost of equipment and services Selling, general, and administrative expense Other income (expense) – net Total amount of income and expense in the Combined Statement of Income (Loss) $ 6,822 $ 5,903 $ 1,186 $ (64) Foreign currency exchange contracts (4) — — — Interest rate contracts — — — — Effects of cash flow hedges $ (4) $ — $ — $ — Foreign currency exchange contracts 2 28 (1) (22) Commodity and other contracts — 10 — — Effect of derivatives not designated as hedges $ 2 $ 38 $ (1) $ (22)

RESTRUCTURING CHARGES AND SEPAR

RESTRUCTURING CHARGES AND SEPARATION COSTS (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	This table is inclusive of all restructuring charges and the charges are shown below for the business where they originated. Separately, in our reported segment results, major restructuring programs are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges. See Note 23 for further information. RESTRUCTURING AND OTHER CHARGES Three months ended March 31 2024 2023 Workforce reductions $ 76 $ 45 Plant closures and associated costs and other asset write-downs 66 57 Acquisition/disposition net charges and other 5 10 Total restructuring and other charges $ 147 $ 113 Cost of equipment and services $ 104 $ 32 Selling, general, and administrative expenses 42 80 Total restructuring and other charges $ 147 $ 113 Power $ 48 $ 21 Wind 89 52 Electrification 10 30 Other — 11 Total restructuring and other charges(a) $ 147 $ 113 (a) Includes $68 million and $66 million primarily in non-cash impairment, accelerated depreciation, and other charges for the three months ended March 31, 2024 and 2023, respectively, not reflected in the liability table below. RESTRUCTURING LIABILITIES 2024 2023 Balance as of January 1 $ 276 $ 283 Additions 78 46 Payments (61) (67) Foreign exchange and other (4) 5 Balance as of March 31 $ 289 $ 267

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Operating Segments	The following table disaggregates total revenues to external customers for sales of equipment and sales of services by segment: Three months ended March 31 2024 2023 Equipment Services Total Equipment Services Total Power $ 1,185 $ 2,823 $ 4,007 $ 1,165 $ 2,615 $ 3,780 Wind 1,227 407 1,634 1,414 336 1,750 Electrification 1,203 403 1,606 908 381 1,289 Other 2 10 12 2 — 3 Total revenues $ 3,617 $ 3,642 $ 7,260 $ 3,489 $ 3,333 $ 6,822 TOTAL SEGMENT REVENUES BY BUSINESS UNIT Three months ended March 31 2024 2023 Gas Power $ 3,041 $ 2,882 Nuclear Power 229 221 Hydro Power 181 178 Steam Power 584 540 Power $ 4,035 $ 3,821 Onshore Wind $ 1,059 $ 1,422 Offshore Wind 441 249 LM Wind Power 139 80 Wind $ 1,639 $ 1,751 Grid Solutions $ 1,109 $ 835 Power Conversion 235 183 Electrification Software 206 218 Solar & Storage Solutions 101 95 Electrification $ 1,651 $ 1,331 Total segment revenues $ 7,325 $ 6,903 SEGMENT EBITDA Three months ended March 31 2024 2023 Power $ 345 $ 177 Wind (173) (260) Electrification 66 (30) $ 238 $ (113) Corporate and other(a) (49) (72) Restructuring and other charges (148) (110) Purchases and sales of business interests (5) — Non-operating benefit income 134 139 Depreciation and amortization(b) (209) (204) Interest and other financial charges – net (4) (9) Benefit (provision) for income taxes (64) 22 Net income (loss) $ (106) $ (346) (a) Includes interest and other financial charges of $10 million and $12 million and benefit for income taxes of $54 million and $47 million for the three months ended March 31, 2024 and 2023, respectively, related to the Financial Services business as this business is managed on an after-tax basis due to its strategic investments in renewable energy tax equity vehicles. (b) Excludes depreciation and amortization expense related to Restructuring and other charges.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Details) - $ / shares	Apr. 02, 2024	Mar. 31, 2024
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sale of stock, number of shares issued		100
Sale of stock, price per share (in dollars per share)		$ 1
Subsequent event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sale of stock, number of shares issued	274,000,000

DISPOSITIONS AND BUSINESSES H_3

DISPOSITIONS AND BUSINESSES HELD FOR SALE (Details) - Held for sale - Steam business disposal - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 72	$ 603
Current receivables, inventories, and contract assets	633	551
Property, plant, and equipment and intangibles – net	236	237
Other assets	52	53
Assets of business held for sale	993	1,444
Liabilities
Contract liabilities and deferred income	964	1,001
Accounts payable and equipment project payables	218	177
Other liabilities	290	270
Liabilities of business held for sale	$ 1,472	$ 1,448

CURRENT AND LONG-TERM RECEIVA_3

CURRENT AND LONG-TERM RECEIVABLES - Schedule of Current Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (516)	$ (515)	$ (651)	$ (674)
Nonrelated party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	5,590	5,952
Non-income based tax receivables	1,101	1,048
Supplier advances and other receivables	817	924
Other receivables	1,917	1,972
Allowance for credit losses	(516)	(515)
Total current receivables – net	$ 6,992	$ 7,409

CURRENT AND LONG-TERM RECEIVA_4

CURRENT AND LONG-TERM RECEIVABLES - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance For Credit Losses [Roll Forward]
Beginning balance	$ 515	$ 674
Net additions (releases) charged to costs and expenses	(1)	(6)
Write-offs, net	0	(24)
Foreign exchange and other	2	7
Ending balance	$ 516	$ 651

CURRENT AND LONG-TERM RECEIVA_5

CURRENT AND LONG-TERM RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of current customer receivables	$ 221	$ 241
Gas Power business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of current customer receivables		$ 77

CURRENT AND LONG-TERM RECEIVA_6

CURRENT AND LONG-TERM RECEIVABLES - Schedule of Long-Term Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Long-term customer receivables	$ 300	$ 316
Supplier advances	239	243
Non-income based tax receivables	134	136
Other receivables	198	190
Allowance for credit losses	(177)	(184)
Total long-term receivables – net	$ 694	$ 701

INVENTORIES, INCLUDING DEFERR_3

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and work in process	$ 5,006	$ 4,685
Finished goods	2,724	2,514
Deferred inventory costs	1,129	1,054
Inventories, including deferred inventory costs	$ 8,859	$ 8,253

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Original cost	$ 12,105	$ 11,907
Less: Accumulated depreciation and amortization	(7,552)	(7,347)
Right-of-use operating lease assets	$ 672	$ 668
Operating Lease, Right-of-Use Asset, Statement of Financial Position	Property, plant, and equipment – net	Property, plant, and equipment – net
Property, plant, and equipment – net	$ 5,224	$ 5,228

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 188	$ 176

LEASES (Details)

LEASES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Leases [Abstract]
Operating lease liability	$ 722		$ 718
Operating lease liability, current, balance sheet location	All other current liabilities (Note 14)		All other current liabilities (Note 14)
Operating lease liability, noncurrent, balance sheet location	All other liabilities (Note 14)		All other liabilities (Note 14)
Operating lease expense	$ 76	$ 76
Finance lease liability	$ 299		$ 311
Finance lease liability, current, balance sheet location	All other current liabilities (Note 14)		All other current liabilities (Note 14)
Finance lease liability, noncurrent, balance sheet location	All other liabilities (Note 14)		All other liabilities (Note 14)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Goodwill Balances (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill
Balance at beginning of period	$ 4,437
Currency exchange and other	(34)
Balance at end of period	4,403
Operating segments | Power
Goodwill
Balance at beginning of period	308
Currency exchange and other	4
Balance at end of period	311
Operating segments | Wind
Goodwill
Balance at beginning of period	3,204
Currency exchange and other	(34)
Balance at end of period	3,170
Operating segments | Electrification
Goodwill
Balance at beginning of period	925
Currency exchange and other	(4)
Balance at end of period	$ 921

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Decrease in intangible assets	$ 52
Amortization of intangible assets	$ 63	$ 55

CONTRACT AND OTHER DEFERRED A_3

CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME- Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Capitalized Contract Cost [Line Items]
Increase (decrease) in contract and other deferred assets	$ 252
Increase (decrease) in contract liabilities and deferred income	868
Increase (decrease) to net contractual service agreements due to billings	(1,173)
Increase (decrease) to net contractual service agreements due to net favorable (unfavorable) change in estimated profitability	(29)
Increase (decrease) to net contractual service agreements due to revenues recognized	1,174
Revenue recognized included in contract liability	2,747	$ 2,600
Performance obligations expected to be satisfied	116,293
Equipment
Capitalized Contract Cost [Line Items]
Performance obligations expected to be satisfied	$ 42,210
Equipment | Performance obligation satisfaction, period one | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	45%
Performance obligations expected to be satisfied, expected timing	1 year
Equipment | Performance obligation satisfaction, period two | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	71%
Performance obligations expected to be satisfied, expected timing	2 years
Equipment | Performance obligation satisfaction, period three | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	93%
Performance obligations expected to be satisfied, expected timing	5 years
Services
Capitalized Contract Cost [Line Items]
Performance obligations expected to be satisfied	$ 74,083
Services | Performance obligation satisfaction, period one | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	16%
Performance obligations expected to be satisfied, expected timing	1 year
Services | Performance obligation satisfaction, period two | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	52%
Performance obligations expected to be satisfied, expected timing	5 years
Services | Performance obligation satisfaction, period three | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	77%
Performance obligations expected to be satisfied, expected timing	10 years
Services | Performance obligation satisfaction, period four | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Capitalized Contract Cost [Line Items]
Performance obligation expected to be satisfied (as a percent)	91%
Performance obligations expected to be satisfied, expected timing	15 years

CONTRACT AND OTHER DEFERRED A_4

CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME - Schedule of Contract Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	$ 8,579	$ 8,339
Non-current contract and other deferred assets	633	621
Total contract and other deferred assets	9,212	8,960
Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	5,167	5,201
Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	3,412	3,138
Power
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	6,859	6,880
Non-current contract and other deferred assets	609	602
Total contract and other deferred assets	7,469	7,482
Power | Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	5,167	5,201
Power | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	1,693	1,679
Wind
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	614	392
Non-current contract and other deferred assets	13	14
Total contract and other deferred assets	627	406
Wind | Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	0	0
Wind | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	614	392
Electrification
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	1,105	1,067
Non-current contract and other deferred assets	11	5
Total contract and other deferred assets	1,116	1,072
Electrification | Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	0	0
Electrification | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current contract assets	$ 1,105	$ 1,067

CONTRACT AND OTHER DEFERRED A_5

CONTRACT AND OTHER DEFERRED ASSETS & CONTRACT LIABILITIES AND DEFERRED INCOME - Schedule of Contract Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Current deferred income	$ 339	$ 361
Contract liabilities and current deferred income	15,919	15,074
Non-current deferred income	195	173
Total contract liabilities and deferred income	16,115	15,247
Services
Capitalized Contract Cost [Line Items]
Service agreement liabilities	1,804	1,810
Equipment
Capitalized Contract Cost [Line Items]
Service agreement liabilities	13,777	12,903
Power
Capitalized Contract Cost [Line Items]
Current deferred income	11	20
Contract liabilities and current deferred income	7,795	7,562
Non-current deferred income	45	48
Total contract liabilities and deferred income	7,839	7,610
Power | Services
Capitalized Contract Cost [Line Items]
Service agreement liabilities	1,804	1,810
Power | Equipment
Capitalized Contract Cost [Line Items]
Service agreement liabilities	5,980	5,732
Wind
Capitalized Contract Cost [Line Items]
Current deferred income	207	228
Contract liabilities and current deferred income	5,341	5,047
Non-current deferred income	122	90
Total contract liabilities and deferred income	5,463	5,137
Wind | Services
Capitalized Contract Cost [Line Items]
Service agreement liabilities	0	0
Wind | Equipment
Capitalized Contract Cost [Line Items]
Service agreement liabilities	5,134	4,819
Electrification
Capitalized Contract Cost [Line Items]
Current deferred income	120	113
Contract liabilities and current deferred income	2,784	2,465
Non-current deferred income	29	35
Total contract liabilities and deferred income	2,813	2,500
Electrification | Services
Capitalized Contract Cost [Line Items]
Service agreement liabilities	0	0
Electrification | Equipment
Capitalized Contract Cost [Line Items]
Service agreement liabilities	$ 2,664	$ 2,352

CURRENT AND ALL OTHER ASSETS (D

CURRENT AND ALL OTHER ASSETS (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Increase (decrease) in other current assets	$ 110
Increase (decrease) in prepaid taxes and deferred charges	79
Increase (decrease) in other assets	$ 75

EQUITY METHOD INVESTMENTS (Deta

EQUITY METHOD INVESTMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	$ 3,647		$ 3,555
Equity method income (loss)	44	$ (70)
Provision (benefit) for income taxes	10	(69)
Operating segments | Power
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	1,011		1,003
Equity method income (loss)	11	11
Operating segments | Wind
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	47		46
Equity method income (loss)	1	(3)
Operating segments | Electrification
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	820		788
Equity method income (loss)	30	13
Other
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	1,769		1,718
Equity method income (loss)	2	(90)
Other | Financial Services
Schedule of Equity Method Investments [Line Items]
Provision (benefit) for income taxes	(54)	(47)
Other | Financial Services Business, renewable energy tax equity investments
Schedule of Equity Method Investments [Line Items]
Equity method investment balance	1,244		$ 1,227
Provision (benefit) for income taxes	$ (53)	$ (43)

ACCOUNTS PAYABLE AND EQUIPMEN_3

ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES - Schedule of Accounts Payable and Equipment Project Payables (Details) - Nonrelated party - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Trade payables	$ 4,330	$ 4,701
Supply chain finance programs	1,672	1,642
Equipment project payables	1,039	1,096
Non-income based tax payables	468	461
Accounts payable and equipment project payables	$ 7,509	$ 7,900

ACCOUNTS PAYABLE AND EQUIPMEN_4

ACCOUNTS PAYABLE AND EQUIPMENT PROJECT PAYABLES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Payables and Accruals [Abstract]
Supply chain finance program, payments	$ 779	$ 1,496

POSTRETIREMENT BENEFIT PLANS -

POSTRETIREMENT BENEFIT PLANS - Effect on Operations of Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Principal pension
Defined Benefit Plan Disclosure [Line Items]
Service cost – operating	$ 6	$ 6
Interest cost	135	141
Expected return on plan assets	(184)	(189)
Amortization of net loss (gain)	(46)	(51)
Amortization of prior service cost (credit)	2	1
Curtailment/settlement gain	0	0
Non-operating benefit costs (income)	(93)	(98)
Net periodic expense (income)	(87)	(92)
Other pension
Defined Benefit Plan Disclosure [Line Items]
Service cost – operating	8	9
Interest cost	57	61
Expected return on plan assets	(84)	(86)
Amortization of net loss (gain)	8	1
Amortization of prior service cost (credit)	(2)	(1)
Curtailment/settlement gain	0	(3)
Non-operating benefit costs (income)	(21)	(28)
Net periodic expense (income)	(13)	(19)
Principal retiree benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost – operating	1	2
Interest cost	9	10
Expected return on plan assets	0	0
Amortization of net loss (gain)	(11)	(11)
Amortization of prior service cost (credit)	(15)	(15)
Curtailment/settlement gain	0	0
Non-operating benefit costs (income)	(17)	(16)
Net periodic expense (income)	$ (16)	$ (14)

POSTRETIREMENT BENEFIT PLANS _2

POSTRETIREMENT BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Defined contribution plan costs	$ 35	$ 30

CURRENT AND ALL OTHER LIABILI_2

CURRENT AND ALL OTHER LIABILITIES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Other Liabilities Disclosure [Abstract]
Increase (decrease) in other current liabilities	$ 47
Increase (decrease) in employee compensation and benefit liabilities	189
Increase (decrease) in short-term borrowings	(77)
Increase (decrease) in taxes payable	(74)
Increase (decrease) in other liabilities	(93)
Increase (decrease) in uncertain and other income taxes and related liabilities	$ (121)

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(10.40%)	16.60%

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	$ 8,380	$ 11,607
Transfer or allocation of benefit plans – net of taxes		1,702
AOCI before reclass, net of taxes	7	90
Reclass from AOCI, net of taxes	(54)	(54)
Less: AOCI attributable to noncontrolling interests	2	(3)
Ending balance	9,980	10,412
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	(635)	(1,456)
Ending balance	(686)	285
Currency translation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	(1,335)	(1,445)
Transfer or allocation of benefit plans – net of taxes		0
AOCI before reclass, net of taxes	11	44
Reclass from AOCI, net of taxes	0	18
Less: AOCI attributable to noncontrolling interests	0	(1)
Ending balance	(1,324)	(1,381)
Transfer or allocation of benefit plans, tax		0
Other comprehensive income (loss) before reclass, tax	(13)	0
Reclass from AOCI, taxes	0	0
Spin-Off related adjustments	39
Benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	674	32
Transfer or allocation of benefit plans – net of taxes		1,702
AOCI before reclass, net of taxes	0	34
Reclass from AOCI, net of taxes	(67)	(78)
Less: AOCI attributable to noncontrolling interests	2	(2)
Ending balance	604	1,692
Transfer or allocation of benefit plans, tax		70
Other comprehensive income (loss) before reclass, tax	(15)	12
Reclass from AOCI, taxes	(1)	0
Cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	26	(43)
Transfer or allocation of benefit plans – net of taxes		0
AOCI before reclass, net of taxes	(5)	12
Reclass from AOCI, net of taxes	13	5
Less: AOCI attributable to noncontrolling interests	0	0
Ending balance	34	(26)
Transfer or allocation of benefit plans, tax		0
Other comprehensive income (loss) before reclass, tax	0	0
Reclass from AOCI, taxes	$ 0	$ 0

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) - Narrative (Details) - Subsequent event	Apr. 02, 2024 shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, distribution conversion ratio	0.25
Common stock, shares outstanding (in shares)	274,085,523

OTHER INCOME (EXPENSE) - NET (D

OTHER INCOME (EXPENSE) - NET (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Equity method investment income (loss) (Note 11)	$ 44	$ (70)
Purchases and sales of business interests	(3)	2
Derivative instruments (Note 18)	(3)	(22)
Licensing income	11	9
Other – net	25	16
Total other income (expense) – net	$ 73	$ (64)

FINANCIAL INSTRUMENTS - Narrati

FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Reclass from AOCI into earnings	$ 54	$ 54
AOCI related to net investment hedges	228
Gain (loss) from cash flow effectiveness	1	(5)
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Reclass from AOCI into earnings	$ (13)	$ (5)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, remaining maturity (up to)	16 years
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
AOCI, cash flow hedge, cumulative gain (loss)	$ 34
Pre-tax loss to be reclassified to earnings in next 12 months	$ 63
Maximum length of time hedged in cash flow hedge	11 years
Cash flow hedges | Non-consolidated joint ventures
Derivative Instruments, Gain (Loss) [Line Items]
AOCI, cash flow hedge, cumulative gain (loss)	$ 27
Minimum | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term of contract	1 month
Maximum | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term of contract	10 months
Carrying amount (net)
Derivative Instruments, Gain (Loss) [Line Items]
Loans and other receivables	$ 343		$ 328
Estimated fair value
Derivative Instruments, Gain (Loss) [Line Items]
Loans and other receivables	$ 339		$ 324

FINANCIAL INSTRUMENTS - Schedul

FINANCIAL INSTRUMENTS - Schedule of Fair Value of Derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Gross Notional	$ 46,117	$ 39,343
All other current assets
All other current assets
Gross derivatives	349	410
Netting adjustment	(274)	(334)
Net derivatives recognized in the Combined Statement of Financial Position	74	76
All other assets
All other current assets
Gross derivatives	263	268
Netting adjustment	(130)	(150)
Net derivatives recognized in the Combined Statement of Financial Position	133	118
All other current liabilities
All other current liabilities
Gross derivatives	357	408
Netting adjustment	(273)	(334)
Net derivatives recognized in the Combined Statement of Financial Position	85	74
All other liabilities
All other current liabilities
Gross derivatives	164	184
Netting adjustment	(130)	(150)
Net derivatives recognized in the Combined Statement of Financial Position	34	34
Derivatives accounted for as hedges
Derivative [Line Items]
Gross Notional	4,635	5,035
Derivatives accounted for as hedges | All other current assets
All other current assets
Gross derivatives	32	39
Derivatives accounted for as hedges | All other assets
All other current assets
Gross derivatives	104	91
Derivatives accounted for as hedges | All other current liabilities
All other current liabilities
Gross derivatives	35	28
Derivatives accounted for as hedges | All other liabilities
All other current liabilities
Gross derivatives	44	41
Derivatives not accounted for as hedges
Derivative [Line Items]
Gross Notional	41,481	34,308
Derivatives not accounted for as hedges | All other current assets
All other current assets
Gross derivatives	317	371
Derivatives not accounted for as hedges | All other assets
All other current assets
Gross derivatives	159	177
Derivatives not accounted for as hedges | All other current liabilities
All other current liabilities
Gross derivatives	322	380
Derivatives not accounted for as hedges | All other liabilities
All other current liabilities
Gross derivatives	120	143
Derivatives not accounted for as hedges | Foreign currency exchange contracts
Derivative [Line Items]
Gross Notional	41,004	33,832
Derivatives not accounted for as hedges | Foreign currency exchange contracts | All other current assets
All other current assets
Gross derivatives	307	361
Derivatives not accounted for as hedges | Foreign currency exchange contracts | All other assets
All other current assets
Gross derivatives	138	169
Derivatives not accounted for as hedges | Foreign currency exchange contracts | All other current liabilities
All other current liabilities
Gross derivatives	310	364
Derivatives not accounted for as hedges | Foreign currency exchange contracts | All other liabilities
All other current liabilities
Gross derivatives	118	142
Derivatives not accounted for as hedges | Commodity and other contracts
Derivative [Line Items]
Gross Notional	477	476
Derivatives not accounted for as hedges | Commodity and other contracts | All other current assets
All other current assets
Gross derivatives	10	10
Derivatives not accounted for as hedges | Commodity and other contracts | All other assets
All other current assets
Gross derivatives	21	8
Derivatives not accounted for as hedges | Commodity and other contracts | All other current liabilities
All other current liabilities
Gross derivatives	12	16
Derivatives not accounted for as hedges | Commodity and other contracts | All other liabilities
All other current liabilities
Gross derivatives	$ 2	$ 1

FINANCIAL INSTRUMENTS - Effects

FINANCIAL INSTRUMENTS - Effects of Derivatives on AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) recognized in OCI, cash flow hedges	$ 13	$ 8
Gain (loss) recognized in OCI, net investment hedges	$ 2	$ (5)

FINANCIAL INSTRUMENTS - Effec_2

FINANCIAL INSTRUMENTS - Effects of Derivatives on Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Sales	$ 7,260	$ 6,822
Cost of equipment and services sold	6,109	5,903
Selling, general, and administrative expense	1,202	1,186
Other income (expense) – net	73	(64)
Sales of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	(4)	(4)
Effect of derivatives not designated as hedges	0	2
Cost of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	9	0
Effect of derivatives not designated as hedges	29	38
Selling, general, and administrative expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	(16)	(1)
Other income (expense) – net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	(3)	(22)
Foreign currency exchange contracts | Sales of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	(4)	(4)
Effect of derivatives not designated as hedges	0	2
Foreign currency exchange contracts | Cost of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	9	0
Effect of derivatives not designated as hedges	29	28
Foreign currency exchange contracts | Selling, general, and administrative expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	(5)	(1)
Foreign currency exchange contracts | Other income (expense) – net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	(3)	(22)
Interest rate contracts | Sales of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	0	0
Interest rate contracts | Cost of equipment and services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	0	10
Interest rate contracts | Selling, general, and administrative expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	(11)	0
Interest rate contracts | Other income (expense) – net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effects of cash flow hedges	0	0
Effect of derivatives not designated as hedges	$ 0	$ 0

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 47,872	$ 46,121
Liabilities	37,892	37,741
Consolidated VIE
Variable Interest Entity [Line Items]
Assets	120	122
Liabilities	153	156
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	1,349	1,323
Unconsolidated VIEs | Financial Services
Variable Interest Entity [Line Items]
Assets	$ 1,293	$ 1,272

COMMITMENTS, GUARANTEES, PROD_2

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Guarantor Obligations [Line Items]
Investment commitments	$ 78
Unfunded lending commitments	547
Liability for product warranties	1,361	$ 1,414
Environmental remediation and worker exposure claims	125	127
Asset retirement obligation	581	581
Nuclear decommissioning obligations	518	519
Alstom legacy matters
Guarantor Obligations [Line Items]
Loss contingency accrual	391	$ 393
Credit support
Guarantor Obligations [Line Items]
Maximum exposure	888
Guarantee obligations, liability	10
Indemnification agreements
Guarantor Obligations [Line Items]
Maximum exposure	139
Guarantee obligations, liability	$ 11

RESTRUCTURING AND OTHER CHARG_2

RESTRUCTURING AND OTHER CHARGES - Schedule of Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 147	$ 113
Cost of equipment and services
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	104	32
Selling, general, and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	42	80
Operating segments | Power
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	48	21
Operating segments | Wind
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	89	52
Operating segments | Electrification
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	10	30
Other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	0	11
Workforce reductions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	76	45
Plant closures and associated costs and other asset write-downs
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	66	57
Acquisition/disposition net charges and other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	5	10
Non-cash asset impairment, accelerated depreciation and other charges
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 68	$ 66

RESTRUCTURING AND OTHER CHARG_3

RESTRUCTURING AND OTHER CHARGES - Changes in Restructuring Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Reserve [Roll Forward]
Beginning balance	$ 276	$ 283
Additions	78	46
Payments	(61)	(67)
Foreign exchange and other	(4)	5
Ending balance	$ 289	$ 267

RESTRUCTURING AND OTHER CHARG_4

RESTRUCTURING AND OTHER CHARGES - Narrative (Details) $ in Millions	Oct. 31, 2022 USD ($)
Wind business restructuring program
Restructuring Cost and Reserve [Line Items]
Restructuring, expected cost	$ 600

RELATED PARTIES (Details)

RELATED PARTIES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Interest and other financial charges – net	$ 14	$ 21
Inflation Reduction Act, advanced manufacturing tax credit	23	26
Sales	7,260	6,822
Aero Alliance
Related Party Transaction [Line Items]
Purchases of products and services	151	118
Centralized services
Related Party Transaction [Line Items]
Related party transaction, amount	0	19
Information technology, finance, insurance and other services
Related Party Transaction [Line Items]
Related party transaction, amount	100	184
Employee medical insurance
Related Party Transaction [Line Items]
Related party transaction, amount	30	28
Tax credit reimbursement
Related Party Transaction [Line Items]
Related party transaction, amount	249
Related party
Related Party Transaction [Line Items]
Compensation expense	34	33
Interest and other financial charges – net	7	9
Accounts payable and equipment project payables	217		$ 532
Sales	4	$ 21
Related party | Aero Alliance
Related Party Transaction [Line Items]
Accounts payable and equipment project payables	56		$ 34
Related party | Prolec GE
Related Party Transaction [Line Items]
Note receivable, maximum committed amount	$ 300

SEGMENT INFORMATION - Disaggreg

SEGMENT INFORMATION - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Sales	$ 7,260	$ 6,822
Equipment
Segment Reporting Information [Line Items]
Sales	3,617	3,489
Services
Segment Reporting Information [Line Items]
Sales	3,642	3,333
Operating segments | Power
Segment Reporting Information [Line Items]
Sales	4,007	3,780
Operating segments | Power | Equipment
Segment Reporting Information [Line Items]
Sales	1,185	1,165
Operating segments | Power | Services
Segment Reporting Information [Line Items]
Sales	2,823	2,615
Operating segments | Wind
Segment Reporting Information [Line Items]
Sales	1,634	1,750
Operating segments | Wind | Equipment
Segment Reporting Information [Line Items]
Sales	1,227	1,414
Operating segments | Wind | Services
Segment Reporting Information [Line Items]
Sales	407	336
Operating segments | Electrification
Segment Reporting Information [Line Items]
Sales	1,606	1,289
Operating segments | Electrification | Equipment
Segment Reporting Information [Line Items]
Sales	1,203	908
Operating segments | Electrification | Services
Segment Reporting Information [Line Items]
Sales	403	381
Other
Segment Reporting Information [Line Items]
Sales	12	3
Other | Equipment
Segment Reporting Information [Line Items]
Sales	2	2
Other | Services
Segment Reporting Information [Line Items]
Sales	$ 10	$ 0

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Sales	$ 7,260	$ 6,822
Intersegment
Segment Reporting Information [Line Items]
Sales	$ 78	$ 90

SEGMENT INFORMATION - Segment R

SEGMENT INFORMATION - Segment Revenue by Business Unit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Sales	$ 7,260	$ 6,822
Operating segments, inclusive of intersegment sales
Segment Reporting Information [Line Items]
Sales	7,325	6,903
Operating segments, inclusive of intersegment sales | Power
Segment Reporting Information [Line Items]
Sales	4,035	3,821
Operating segments, inclusive of intersegment sales | Power | Gas Power
Segment Reporting Information [Line Items]
Sales	3,041	2,882
Operating segments, inclusive of intersegment sales | Power | Nuclear Power
Segment Reporting Information [Line Items]
Sales	229	221
Operating segments, inclusive of intersegment sales | Power | Hydro Power
Segment Reporting Information [Line Items]
Sales	181	178
Operating segments, inclusive of intersegment sales | Power | Steam Power
Segment Reporting Information [Line Items]
Sales	584	540
Operating segments, inclusive of intersegment sales | Wind
Segment Reporting Information [Line Items]
Sales	1,639	1,751
Operating segments, inclusive of intersegment sales | Wind | Onshore Wind
Segment Reporting Information [Line Items]
Sales	1,059	1,422
Operating segments, inclusive of intersegment sales | Wind | Offshore Wind
Segment Reporting Information [Line Items]
Sales	441	249
Operating segments, inclusive of intersegment sales | Wind | LM Wind Power
Segment Reporting Information [Line Items]
Sales	139	80
Operating segments, inclusive of intersegment sales | Electrification
Segment Reporting Information [Line Items]
Sales	1,651	1,331
Operating segments, inclusive of intersegment sales | Electrification | Grid Solutions
Segment Reporting Information [Line Items]
Sales	1,109	835
Operating segments, inclusive of intersegment sales | Electrification | Power Conversion
Segment Reporting Information [Line Items]
Sales	235	183
Operating segments, inclusive of intersegment sales | Electrification | Electrification Software
Segment Reporting Information [Line Items]
Sales	206	218
Operating segments, inclusive of intersegment sales | Electrification | Solar & Storage Solutions
Segment Reporting Information [Line Items]
Sales	$ 101	$ 95

SEGMENT INFORMATION - Segment E

SEGMENT INFORMATION - Segment EBITDA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Restructuring and other charges	$ (147)	$ (113)
Interest and other financial charges – net	(14)	(21)
Benefit (provision) for income taxes	(10)	69
Net income (loss)	(106)	(346)
Operating segments
Segment Reporting Information [Line Items]
Segment EBITDA	238	(113)
Corporate and other
Segment Reporting Information [Line Items]
Other	(49)	(72)
Restructuring and other charges	0	(11)
Corporate and other | Financial Services
Segment Reporting Information [Line Items]
Interest and other financial charges – net	(10)	(12)
Benefit (provision) for income taxes	54	47
Segment reconciling items
Segment Reporting Information [Line Items]
Restructuring and other charges	(148)	(110)
Purchases and sales of business interests	(5)	0
Non-operating benefit income	134	139
Depreciation and amortization	(209)	(204)
Interest and other financial charges – net	(4)	(9)
Benefit (provision) for income taxes	(64)	22
Power | Operating segments
Segment Reporting Information [Line Items]
Segment EBITDA	345	177
Restructuring and other charges	(48)	(21)
Wind | Operating segments
Segment Reporting Information [Line Items]
Segment EBITDA	(173)	(260)
Restructuring and other charges	(89)	(52)
Electrification | Operating segments
Segment Reporting Information [Line Items]
Segment EBITDA	66	(30)
Restructuring and other charges	$ (10)	$ (30)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions		3 Months Ended
	Apr. 02, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Transfers from (to) Parent		$ 2,023	$ 708
Cash, cash equivalents, and restricted cash		$ 3,255	$ 2,073	$ 1,551	$ 2,067
Subsequent event
Subsequent Event [Line Items]
Transfers from (to) Parent	$ 515
Transfer from parent, restricted	325
Cash, cash equivalents, and restricted cash	$ 4,200
Subsequent event | Transition Services Agreement
Subsequent Event [Line Items]
Period following distribution date	2 years
Subsequent event | Tax Matters Agreement
Subsequent Event [Line Items]
Period following distribution date	2 years
Subsequent event | Framework Investment Agreement
Subsequent Event [Line Items]
Period following distribution date	2 years
Line of credit | Senior unsecured revolving credit facility | Subsequent event
Subsequent Event [Line Items]
Debt term	5 years
Maximum borrowing capacity	$ 3,000
Line of credit | Trade finance facility | Subsequent event
Subsequent Event [Line Items]
Debt term	5 years
Maximum borrowing capacity	$ 3,000