General Electric (GE) 10-K 12 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Entity File Number	001-00035
Entity Registrant Name	GENERAL ELECTRIC CO
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	14-0689340
Entity Address, Address Line One	5 Necco Street,
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02210
City Area Code	617
Local Phone Number	443-3000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 58.9
Entity Common Stock, Shares Outstanding		8,767,942,000
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE The definitive proxy statement relating to the registrant’s Annual Meeting of Shareholders, to be held May 4, 2021, is incorporated by reference into Part III to the extent described therein.
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Central Index Key	0000040545
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.06 per share
Trading Symbol	GE
Security Exchange Name	NYSE
0.375% Notes due 2022
Entity Information [Line Items]
Title of 12(b) Security	0.375% Notes due 2022
Trading Symbol	GE 22A
Security Exchange Name	NYSE
1.250% Notes due 2023
Entity Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2023
Trading Symbol	GE 23E
Security Exchange Name	NYSE
0.875% Notes due 2025
Entity Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2025
Trading Symbol	GE 25
Security Exchange Name	NYSE
1.875% Notes due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2027
Trading Symbol	GE 27E
Security Exchange Name	NYSE
1.500% Notes due 2029
Entity Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2029
Trading Symbol	GE 29
Security Exchange Name	NYSE
7 1/2% Guaranteed Subordinated Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	7 1/2% Guaranteed Subordinated Notes due 2035
Trading Symbol	GE /35
Security Exchange Name	NYSE
2.125% Notes due 2037
Entity Information [Line Items]
Title of 12(b) Security	2.125% Notes due 2037
Trading Symbol	GE 37
Security Exchange Name	NYSE

STATEMENT OF EARNINGS (LOSS)

STATEMENT OF EARNINGS (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Total revenues (Note 25)	$ 79,619	$ 95,214	$ 97,012
Cost of goods and services	60,421	66,911
Selling, general and administrative expenses	12,621	13,949	14,643
Research and development	2,565	3,118	3,415
Interest and other financial charges	3,273	4,227	4,766
Insurance losses and annuity benefits (Note 12)	2,397	3,294	2,790
Goodwill impairments (Note 8)	1,717	1,486	22,136
Non-operating benefit costs	2,433	2,844	2,753
Other costs and expenses	384	458	414
Total costs and expenses	85,809	96,287	120,320
Other income (Note 19)	11,387	2,222	2,321
Earnings (loss) from continuing operations before income taxes	5,197	1,149	(20,987)
Benefit (provision) for income taxes (Note 15)	474	(726)	(93)
Earnings (loss) from continuing operations	5,672	423	(21,080)
Earnings (loss) from discontinued operations, net of taxes (Note 2)	(125)	(5,335)	(1,363)
Net earnings (loss)	5,546	(4,912)	(22,443)
Less net earnings (loss) attributable to noncontrolling interests	(158)	66	(89)
Net earnings (loss) attributable to the Company	5,704	(4,979)	(22,355)
Preferred stock dividends	(474)	(460)	(447)
Net earnings (loss) attributable to GE common shareholders	5,230	(5,439)	(22,802)
Amounts attributable to GE common shareholders:
Earnings (loss) from continuing operations	5,672	423	(21,080)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations	(158)	7	(90)
Earnings (loss) from continuing operations attributable to the Company	5,829	416	(20,991)
Preferred stock dividends	(474)	(460)	(447)
Earnings (loss) from continuing operations attributable to GE common shareholders	5,355	(44)	(21,438)
Earnings (loss) from discontinued operations, net of taxes	(125)	(5,335)	(1,363)
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations	0	60	1
Net earnings (loss) attributable to GE common shareholders	$ 5,230	$ (5,439)	$ (22,802)
Earnings (loss) from continuing operations
Diluted earnings (loss) per share (in dollars per share)	$ 0.59	$ (0.01)	$ (2.47)
Basic earnings (loss) per share (in dollars per share)	0.59	(0.01)	(2.47)
Net earnings (loss)
Diluted earnings (loss) per share (in dollars per share)	0.58	(0.62)	(2.62)
Basic earnings (loss) per share (in dollars per share)	0.58	(0.62)	(2.62)
Dividends declared per common share (in dollars per share)	$ 0.04	$ 0.04	$ 0.37
Goods
Sales	$ 49,464	$ 58,949	$ 60,148
Cost of goods and services	42,041	45,902	47,570
Services
Sales	23,558	28,538	28,792
Cost of goods and services	18,380	21,009	21,833
GE Capital revenues from services
Total revenues (Note 25)	6,597	7,728	8,072
GE Industrial
Total revenues (Note 25)	73,100	87,719	89,038
Selling, general and administrative expenses	12,073	13,404	13,851
Research and development	2,565	3,118	3,415
Interest and other financial charges	1,333	2,115	2,415
Insurance losses and annuity benefits (Note 12)	0	0	0
Goodwill impairments (Note 8)	877	1,486	22,136
Non-operating benefit costs	2,424	2,828	2,740
Other costs and expenses	0	0	(51)
Total costs and expenses	77,252	88,118	111,967
Other income (Note 19)	11,444	2,200	2,317
Earnings (loss) from continuing operations before income taxes	7,291	1,801	(20,612)
Benefit (provision) for income taxes (Note 15)	(388)	(1,309)	(467)
Earnings (loss) from continuing operations	6,904	492	(21,079)
Earnings (loss) from discontinued operations, net of taxes (Note 2)	(35)	(5,527)	307
Net earnings (loss)	6,868	(5,035)	(20,772)
Less net earnings (loss) attributable to noncontrolling interests	(161)	66	(129)
Net earnings (loss) attributable to the Company	7,029	(5,101)	(20,643)
Preferred stock dividends	0	0	0
Net earnings (loss) attributable to GE common shareholders	7,029	(5,101)	(20,643)
Amounts attributable to GE common shareholders:
Earnings (loss) from continuing operations	6,904	492	(21,079)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations	(161)	6	(130)
Earnings (loss) from continuing operations attributable to the Company	7,065	486	(20,949)
Preferred stock dividends	0	0	0
Earnings (loss) from continuing operations attributable to GE common shareholders	7,065	486	(20,949)
Earnings (loss) from discontinued operations, net of taxes	(35)	(5,527)	307
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations	0	60	1
Net earnings (loss) attributable to GE common shareholders	7,029	(5,101)	(20,643)
GE Industrial | Goods
Sales	49,443	59,138	60,147
Cost of goods and services	42,030	46,115	47,591
GE Industrial | Services
Sales	23,656	28,581	28,891
Cost of goods and services	15,951	19,051	19,869
GE Industrial | GE Capital revenues from services
Total revenues (Note 25)	0	0	0
GE Capital
Total revenues (Note 25)	7,245	8,741	9,551
Selling, general and administrative expenses	823	931	1,341
Research and development	0	0	0
Interest and other financial charges	2,186	2,532	2,982
Insurance losses and annuity benefits (Note 12)	2,438	3,353	2,849
Goodwill impairments (Note 8)	839	0	0
Non-operating benefit costs	9	16	12
Other costs and expenses	469	480	558
Total costs and expenses	9,339	9,392	9,926
Other income (Note 19)	0	0	0
Earnings (loss) from continuing operations before income taxes	(2,095)	(652)	(375)
Benefit (provision) for income taxes (Note 15)	862	582	374
Earnings (loss) from continuing operations	(1,232)	(69)	(1)
Earnings (loss) from discontinued operations, net of taxes (Note 2)	(90)	192	(1,670)
Net earnings (loss)	(1,322)	123	(1,672)
Less net earnings (loss) attributable to noncontrolling interests	3	1	40
Net earnings (loss) attributable to the Company	(1,325)	122	(1,712)
Preferred stock dividends	(474)	(460)	(447)
Net earnings (loss) attributable to GE common shareholders	(1,800)	(338)	(2,159)
Amounts attributable to GE common shareholders:
Earnings (loss) from continuing operations	(1,232)	(69)	(1)
Less net earnings (loss) attributable to noncontrolling interests, continuing operations	3	1	40
Earnings (loss) from continuing operations attributable to the Company	(1,235)	(70)	(42)
Preferred stock dividends	(474)	(460)	(447)
Earnings (loss) from continuing operations attributable to GE common shareholders	(1,710)	(530)	(489)
Earnings (loss) from discontinued operations, net of taxes	(90)	192	(1,670)
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations	0	0	0
Net earnings (loss) attributable to GE common shareholders	(1,800)	(338)	(2,159)
GE Capital | Goods
Sales	57	79	121
Cost of goods and services	48	61	95
GE Capital | Services
Sales	0	0	0
Cost of goods and services	2,527	2,019	2,089
GE Capital | GE Capital revenues from services
Total revenues (Note 25)	$ 7,188	$ 8,662	$ 9,430

STATEMENT OF FINANCIAL POSITION

STATEMENT OF FINANCIAL POSITION - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Cash, cash equivalents and restricted cash	[1]	$ 36,630	$ 35,811
Investment securities (Note 3)		7,319	9,888
Current receivables (Note 4)		16,691	16,568
Financing receivables – net (Note 5)		1,265	1,077
Inventories, including deferred inventory costs (Note 6)		15,890	17,215
Other GE Capital receivables		3,331	2,635
Receivable from GE Capital		0	0
Current contract assets (Note 9)		5,764	7,390
All other current assets (Note 10)		1,522	3,362
Assets of businesses held for sale (Note 2)		0	9,149
Current assets		88,412	103,096
Investment securities (Note 3)		42,549	38,632
Financing receivables – net (Note 5)		1,771	2,057
Other GE Capital receivables		4,661	4,509
Property, plant and equipment – net (Note 7)		44,662	45,879
Receivable from GE Capital		0	0
Goodwill (Note 8)		25,524	26,734
Other intangible assets – net (Note 8)		9,774	10,653
Contract and other deferred assets (Note 9)		5,888	5,737
All other assets (Note 10)		14,597	13,882
Deferred income taxes (Note 15)		12,081	9,889
Assets of discontinued operations (Note 2)		3,532	4,109
Total assets		253,452	265,177
Short-term borrowings (Note 11)		4,778	23,641
Short-term borrowings assumed by GE (Note 11)		0	0
Accounts payable and equipment project accruals		16,476	17,357
Progress collections and deferred income		18,215	18,389
All other current liabilities (Note 14)		16,600	17,821
Liabilities of businesses held for sale (Note 2)		0	1,658
Current liabilities		56,069	78,865
Deferred income (Note 9)		1,801	1,555
Long-term borrowings (Note 11)		70,288	67,241
Long-term borrowings assumed by GE (Note 11)		0	0
Insurance liabilities and annuity benefits (Note 12)		42,191	39,826
Non-current compensation and benefits		29,752	31,687
All other liabilities (Note 14)		16,077	15,938
Liabilities of discontinued operations (Note 2)		200	203
Total liabilities		216,378	235,316
Preferred stock (5,939,875 shares outstanding at both December 31, 2020 and December 31, 2019)		6	6
Common stock (8,765,493,000 and 8,738,434,000 shares outstanding at December 31, 2020 and December 31, 2019, respectively)		702	702
Accumulated other comprehensive income (loss) – net attributable to GE		(9,749)	(11,732)
Other capital		34,307	34,405
Retained earnings		92,247	87,732
Less common stock held in treasury		(81,961)	(82,797)
Total GE shareholders’ equity		35,552	28,316
Noncontrolling interests (Note 16)		1,522	1,545
Total equity	[2]	37,073	29,861
Total liabilities and equity		253,452	265,177
GE Industrial
Cash, cash equivalents and restricted cash		23,209	17,613
Investment securities (Note 3)		7,319	9,888
Current receivables (Note 4)		13,442	13,682
Financing receivables – net (Note 5)		0	0
Inventories, including deferred inventory costs (Note 6)		15,890	17,215
Other GE Capital receivables		0	0
Receivable from GE Capital		2,432	2,104
Current contract assets (Note 9)		5,764	7,390
All other current assets (Note 10)		835	852
Assets of businesses held for sale (Note 2)		0	8,626
Current assets		68,892	77,371
Investment securities (Note 3)		36	120
Financing receivables – net (Note 5)		0	0
Other GE Capital receivables		0	0
Property, plant and equipment – net (Note 7)		16,433	17,447
Receivable from GE Capital		16,780	17,038
Goodwill (Note 8)		25,524	25,895
Other intangible assets – net (Note 8)		9,632	10,461
Contract and other deferred assets (Note 9)		5,921	5,769
All other assets (Note 10)		7,948	7,748
Deferred income taxes (Note 15)		9,350	8,189
Assets of discontinued operations (Note 2)		144	202
Total assets		160,658	170,238
Short-term borrowings (Note 11)		918	5,606
Short-term borrowings assumed by GE (Note 11)		2,432	5,473
Accounts payable and equipment project accruals		16,380	19,134
Progress collections and deferred income		18,371	18,575
All other current liabilities (Note 14)		14,131	15,251
Liabilities of businesses held for sale (Note 2)		0	1,620
Current liabilities		52,232	65,660
Deferred income (Note 9)		1,801	1,555
Long-term borrowings (Note 11)		19,428	15,085
Long-term borrowings assumed by GE (Note 11)		19,957	25,895
Insurance liabilities and annuity benefits (Note 12)		0	0
Non-current compensation and benefits		29,291	31,208
All other liabilities (Note 14)		16,440	16,306
Liabilities of discontinued operations (Note 2)		139	106
Total liabilities		139,289	155,815
Preferred stock (5,939,875 shares outstanding at both December 31, 2020 and December 31, 2019)		6	6
Common stock (8,765,493,000 and 8,738,434,000 shares outstanding at December 31, 2020 and December 31, 2019, respectively)		702	702
Accumulated other comprehensive income (loss) – net attributable to GE		(8,945)	(10,881)
Other capital		15,294	17,398
Retained earnings		94,910	88,589
Less common stock held in treasury		(81,961)	(82,797)
Total GE shareholders’ equity		20,006	13,017
Noncontrolling interests (Note 16)		1,363	1,406
Total equity		21,369	14,423
Total liabilities and equity		160,658	170,238
GE Capital
Cash, cash equivalents and restricted cash		13,421	18,198
Investment securities (Note 3)		0	0
Current receivables (Note 4)		0	0
Financing receivables – net (Note 5)		5,110	4,922
Inventories, including deferred inventory costs (Note 6)		0	0
Other GE Capital receivables		5,069	6,881
Receivable from GE Capital		0	0
Current contract assets (Note 9)		0	0
All other current assets (Note 10)		1,021	2,936
Assets of businesses held for sale (Note 2)		0	241
Current assets		24,621	33,177
Investment securities (Note 3)		42,515	38,514
Financing receivables – net (Note 5)		1,771	2,057
Other GE Capital receivables		5,076	4,886
Property, plant and equipment – net (Note 7)		29,600	29,886
Receivable from GE Capital		0	0
Goodwill (Note 8)		0	839
Other intangible assets – net (Note 8)		143	192
Contract and other deferred assets (Note 9)		0	0
All other assets (Note 10)		7,068	6,294
Deferred income taxes (Note 15)		2,731	1,700
Assets of discontinued operations (Note 2)		3,388	3,907
Total assets		116,914	121,454
Short-term borrowings (Note 11)		2,028	13,598
Short-term borrowings assumed by GE (Note 11)		2,432	2,104
Accounts payable and equipment project accruals		947	886
Progress collections and deferred income		0	0
All other current liabilities (Note 14)		3,890	4,052
Liabilities of businesses held for sale (Note 2)		0	52
Current liabilities		9,297	20,691
Deferred income (Note 9)		0	0
Long-term borrowings (Note 11)		30,902	26,261
Long-term borrowings assumed by GE (Note 11)		16,780	17,038
Insurance liabilities and annuity benefits (Note 12)		42,565	40,232
Non-current compensation and benefits		453	472
All other liabilities (Note 14)		1,151	1,226
Liabilities of discontinued operations (Note 2)		61	97
Total liabilities		101,210	106,016
Preferred stock (5,939,875 shares outstanding at both December 31, 2020 and December 31, 2019)		6	6
Common stock (8,765,493,000 and 8,738,434,000 shares outstanding at December 31, 2020 and December 31, 2019, respectively)		0	0
Accumulated other comprehensive income (loss) – net attributable to GE		(804)	(852)
Other capital		19,007	17,001
Retained earnings		(2,663)	(857)
Less common stock held in treasury		0	0
Total GE shareholders’ equity		15,545	15,299
Noncontrolling interests (Note 16)		159	139
Total equity		15,704	15,438
Total liabilities and equity		116,914	121,454
Restricted cash subject to regulatory restrictions		$ 455	$ 583
[1]	Excluded $455 million and $583 million at December 31, 2020 and 2019, respectively, in GE Capital insurance entities, which is subject to regulatory restrictions. This balance is included in All other assets. See Note 10 for further information.
[2]	Total equity balance decreased by $(14,408) million from December 31, 2018, primarily due to reduction of noncontrolling interest balance of $(19,239) million attributable to Baker Hughes Class A shareholders at December 31, 2018, after-tax loss of $(8,238) million in discontinued operations due to deconsolidation of Baker Hughes in 2019, and after-tax net realized and unrealized loss on our remaining interest in Baker Hughes of $(936) million in 2019 and 2020, partially offset by after-tax gain of $11,213 million due to the sale of our BioPharma business within our Healthcare segment, and after-tax gain of $2,508 million in discontinued operations due to spin-off and subsequent merger of our Transportation business with Wabtec in 2019.

STATEMENT OF FINANCIAL POSITI_2

STATEMENT OF FINANCIAL POSITION (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Preferred stock, shares outstanding	5,939,875	5,939,875
Common stock, shares outstanding	8,765,493,000	8,738,434,000

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows – operating activities
Net earnings (loss)	$ 5,546	$ (4,912)	$ (22,443)
(Earnings) loss from discontinued operations	125	5,335	1,363
Adjustments to reconcile net earnings (loss) to cash provided from operating activities:
Depreciation and amortization of property, plant and equipment (Note 7)	4,636	4,026	4,419
Amortization of intangible assets (Note 8)	1,382	1,569	2,163
Goodwill impairments (Note 8)	1,717	1,486	22,136
(Gains) losses on purchases and sales of business interests (Note 19)	(12,526)	(53)	(1,522)
(Gains) losses on equity securities (Note 19)	2,105	(693)	(166)
Principal pension plans cost (Note 13)	3,559	3,878	4,226
Principal pension plans employer contributions (Note 13)	(2,806)	(298)	(6,283)
Other postretirement benefit plans (net) (Note 13)	(893)	(1,228)	(1,033)
Provision (benefit) for income taxes (Note 15)	(474)	726	93
Cash recovered (paid) during the year for income taxes (Note 15)	(1,441)	(1,950)	(1,404)
Changes in operating working capital:
Decrease (increase) in current receivables	(1,319)	(2,851)	(358)
Decrease (increase) in inventories, including deferred inventory costs	1,105	(1,581)	(573)
Decrease (increase) in current contract assets	1,631	891	751
Increase (decrease) in accounts payable and equipment project accruals	(575)	2,674	666
Increase (decrease) in progress collections and current deferred income	(216)	1,531	(563)
All other operating activities	2,040	1,869	1,739
Cash from (used for) operating activities – continuing operations	3,597	10,419	3,210
Cash from (used for) operating activities – discontinued operations	0	(1,647)	1,768
Cash from (used for) operating activities	3,597	8,772	4,978
Cash flows – investing activities
Additions to property, plant and equipment	(3,252)	(5,813)	(6,627)
Dispositions of property, plant and equipment	1,644	3,718	4,093
Additions to internal-use software	(151)	(282)	(320)
Net decrease (increase) in GE Capital financing receivables	(20)	1,117	1,796
Net cash from (payments for) principal businesses purchased	(85)	(68)	(1)
Capital contribution from GE Industrial to GE Capital	0	0	0
Sales of retained ownership interests	417	3,383	0
Net (purchases) dispositions of GE Capital investment securities (Note 3)	(1,352)	(1,616)	2,534
All other investing activities	(1,019)	(301)	8,995
Cash from (used for) investing activities – continuing operations	16,778	10,684	18,925
Cash from (used for) investing activities – discontinued operations	(136)	(1,745)	(645)
Cash from (used for) investing activities	16,642	8,939	18,280
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(4,168)	280	(4,343)
Newly issued debt (maturities longer than 90 days)	15,028	2,185	3,120
Repayments and other reductions (maturities longer than 90 days)	(29,876)	(16,567)	(20,319)
Capital contribution from GE Industrial to GE Capital	0	0	0
Dividends paid to shareholders	(648)	(649)	(4,474)
All other financing activities	(188)	(1,013)	(1,328)
Cash from (used for) financing activities – continuing operations	(19,853)	(15,764)	(27,345)
Cash from (used for) financing activities – discontinued operations	1	(368)	(4,462)
Cash from (used for) financing activities	(19,852)	(16,133)	(31,806)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash	145	(50)	(628)
Increase (decrease) in cash, cash equivalents and restricted cash	531	1,529	(9,176)
Cash, cash equivalents and restricted cash at beginning of year	37,077	35,548	44,724
Cash, cash equivalents and restricted cash at end of year	37,608	37,077	35,548
Less cash, cash equivalents and restricted cash of discontinued operations at end of year	524	638	4,424
Cash, cash equivalents and restricted cash of continuing operations at end of year	37,085	36,439	31,124
Supplemental disclosure of cash flows information
Cash paid during the year for interest	(2,976)	(4,101)	(4,508)
GE Capital
Cash flows – operating activities
Net earnings (loss)	(1,322)	123	(1,672)
(Earnings) loss from discontinued operations	90	(192)	1,670
Adjustments to reconcile net earnings (loss) to cash provided from operating activities:
Depreciation and amortization of property, plant and equipment (Note 7)	2,534	2,026	2,110
Amortization of intangible assets (Note 8)	57	57	53
Goodwill impairments (Note 8)	839	0	0
(Gains) losses on purchases and sales of business interests (Note 19)	(58)	(50)	(288)
(Gains) losses on equity securities (Note 19)	25	(6)	21
Principal pension plans cost (Note 13)	0	0	0
Principal pension plans employer contributions (Note 13)	0	0	0
Other postretirement benefit plans (net) (Note 13)	(47)	(15)	(18)
Provision (benefit) for income taxes (Note 15)	(862)	(582)	(374)
Cash recovered (paid) during the year for income taxes (Note 15)	1,007	(46)	(61)
Changes in operating working capital:
Decrease (increase) in current receivables	0	0	0
Decrease (increase) in inventories, including deferred inventory costs	0	0	0
Decrease (increase) in current contract assets	0	0	0
Increase (decrease) in accounts payable and equipment project accruals	(29)	(44)	2
Increase (decrease) in progress collections and current deferred income	0	0	0
All other operating activities	1,261	610	138
Cash from (used for) operating activities – continuing operations	3,495	1,881	1,582
Cash from (used for) operating activities – discontinued operations	(32)	(1,917)	(415)
Cash from (used for) operating activities	3,463	(35)	1,166
Cash flows – investing activities
Additions to property, plant and equipment	(1,765)	(3,830)	(4,569)
Dispositions of property, plant and equipment	1,450	3,348	3,853
Additions to internal-use software	(7)	(8)	(14)
Net decrease (increase) in GE Capital financing receivables	199	3,389	9,986
Net cash from (payments for) principal businesses purchased	0	0	0
Capital contribution from GE Industrial to GE Capital	0	0	0
Sales of retained ownership interests	0	0	0
Net (purchases) dispositions of GE Capital investment securities (Note 3)	(1,352)	(1,616)	2,534
All other investing activities	9,673	4,233	(2,052)
Cash from (used for) investing activities – continuing operations	8,231	9,453	11,777
Cash from (used for) investing activities – discontinued operations	(100)	2,023	186
Cash from (used for) investing activities	8,131	11,476	11,964
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(525)	(256)	(4,308)
Newly issued debt (maturities longer than 90 days)	7,566	2,154	3,045
Repayments and other reductions (maturities longer than 90 days)	(25,252)	(11,632)	(19,836)
Capital contribution from GE Industrial to GE Capital	2,000	4,000	0
Dividends paid to shareholders	(469)	(455)	(371)
All other financing activities	(58)	(819)	(2,408)
Cash from (used for) financing activities – continuing operations	(16,738)	(7,007)	(23,878)
Cash from (used for) financing activities – discontinued operations	0	(1)	0
Cash from (used for) financing activities	(16,738)	(7,008)	(23,878)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash	84	6	(134)
Increase (decrease) in cash, cash equivalents and restricted cash	(5,060)	4,439	(10,882)
Cash, cash equivalents and restricted cash at beginning of year	19,460	15,020	25,902
Cash, cash equivalents and restricted cash at end of year	14,400	19,460	15,020
Less cash, cash equivalents and restricted cash of discontinued operations at end of year	524	633	528
Cash, cash equivalents and restricted cash of continuing operations at end of year	13,876	18,826	14,492
Supplemental disclosure of cash flows information
Cash paid during the year for interest	(1,957)	(2,632)	(2,883)
GE Industrial
Cash flows – operating activities
Net earnings (loss)	6,868	(5,035)	(20,772)
(Earnings) loss from discontinued operations	35	5,527	(307)
Adjustments to reconcile net earnings (loss) to cash provided from operating activities:
Depreciation and amortization of property, plant and equipment (Note 7)	2,130	2,001	2,290
Amortization of intangible assets (Note 8)	1,325	1,512	2,109
Goodwill impairments (Note 8)	877	1,486	22,136
(Gains) losses on purchases and sales of business interests (Note 19)	(12,468)	(3)	(1,234)
(Gains) losses on equity securities (Note 19)	2,080	(688)	(185)
Principal pension plans cost (Note 13)	3,559	3,878	4,226
Principal pension plans employer contributions (Note 13)	(2,806)	(298)	(6,283)
Other postretirement benefit plans (net) (Note 13)	(846)	(1,213)	(1,015)
Provision (benefit) for income taxes (Note 15)	388	1,309	467
Cash recovered (paid) during the year for income taxes (Note 15)	(2,447)	(1,904)	(1,343)
Changes in operating working capital:
Decrease (increase) in current receivables	(558)	(3,904)	(966)
Decrease (increase) in inventories, including deferred inventory costs	1,188	(1,349)	(581)
Decrease (increase) in current contract assets	1,631	891	751
Increase (decrease) in accounts payable and equipment project accruals	(2,556)	381	716
Increase (decrease) in progress collections and current deferred income	(247)	1,476	(424)
All other operating activities	591	548	1,117
Cash from (used for) operating activities – continuing operations	(1,254)	4,614	701
Cash from (used for) operating activities – discontinued operations	32	(49)	2,051
Cash from (used for) operating activities	(1,223)	4,565	2,752
Cash flows – investing activities
Additions to property, plant and equipment	(1,579)	(2,216)	(2,234)
Dispositions of property, plant and equipment	202	371	271
Additions to internal-use software	(143)	(274)	(306)
Net decrease (increase) in GE Capital financing receivables	0	0	0
Net cash from (payments for) principal businesses purchased	(85)	(447)	(1)
Capital contribution from GE Industrial to GE Capital	(2,000)	(4,000)	0
Sales of retained ownership interests	417	3,383	0
Net (purchases) dispositions of GE Capital investment securities (Note 3)	0	0	0
All other investing activities	523	292	(640)
Cash from (used for) investing activities – continuing operations	17,729	4,056	3,138
Cash from (used for) investing activities – discontinued operations	(36)	(3,449)	(698)
Cash from (used for) investing activities	17,693	607	2,439
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	(4,234)	(595)	(987)
Newly issued debt (maturities longer than 90 days)	7,462	31	6,570
Repayments and other reductions (maturities longer than 90 days)	(13,673)	(6,458)	(1,023)
Capital contribution from GE Industrial to GE Capital	0	0	0
Dividends paid to shareholders	(354)	(352)	(4,179)
All other financing activities	(141)	(283)	1,090
Cash from (used for) financing activities – continuing operations	(10,941)	(7,658)	1,470
Cash from (used for) financing activities – discontinued operations	1	(368)	(4,462)
Cash from (used for) financing activities	(10,940)	(8,026)	(2,992)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash	61	(56)	(494)
Increase (decrease) in cash, cash equivalents and restricted cash	5,591	(2,911)	1,706
Cash, cash equivalents and restricted cash at beginning of year	17,617	20,528	18,822
Cash, cash equivalents and restricted cash at end of year	23,209	17,617	20,528
Less cash, cash equivalents and restricted cash of discontinued operations at end of year	0	4	3,896
Cash, cash equivalents and restricted cash of continuing operations at end of year	23,209	17,613	16,632
Supplemental disclosure of cash flows information
Cash paid during the year for interest	(1,276)	(1,975)	(2,201)
Sale of discontinued operations
Cash flows – investing activities
Proceeds from sale of businesses	0	5,864	29
Sale of discontinued operations | GE Capital
Cash flows – investing activities
Proceeds from sale of businesses	0	0	29
Sale of discontinued operations | GE Industrial
Cash flows – investing activities
Proceeds from sale of businesses	0	5,864	0
Principal business dispositions
Cash flows – investing activities
Proceeds from sale of businesses	20,596	4,683	8,425
Principal business dispositions | GE Capital
Cash flows – investing activities
Proceeds from sale of businesses	34	3,938	2,011
Principal business dispositions | GE Industrial
Cash flows – investing activities
Proceeds from sale of businesses	$ 20,394	$ 1,083	$ 6,047

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 5,546	$ (4,912)	$ (22,443)
Less net earnings (loss) attributable to noncontrolling interests	(158)	66	(89)
Net earnings (loss) attributable to the Company	5,704	(4,979)	(22,355)
Investment securities	(1)	100	64
Currency translation adjustments	435	1,275	(1,664)
Cash flow hedges	(77)	36	(51)
Benefit plans	1,632	1,229	1,416
Other comprehensive income (loss)	1,989	2,641	(235)
Less other comprehensive income (loss) attributable to noncontrolling interests	6	(40)	(225)
Other comprehensive income (loss) attributable to the Company	1,984	2,681	(10)
Comprehensive income (loss)	7,536	(2,272)	(22,678)
Less comprehensive income (loss) attributable to noncontrolling interests	(152)	26	(314)
Comprehensive income (loss) attributable to the Company	$ 7,688	$ (2,297)	$ (22,364)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total		Baker Hughes	AOCI attributable to parent	Investment securities	Currency translation adjustments	Cash flow hedges	Benefit plans	Other capital	Retained earnings	Retained earningsCumulative Effect, Period of Adoption, Adjustment	Common stock held in treasury	Baker Hughes	Transportation	BioPharma Business
Beginning balance at Dec. 31, 2017				$ (14,404)	$ (102)	$ (4,661)	$ 62	$ (9,702)	$ 37,384	$ 117,245	$ 2,261	$ (84,902)
Increase (Decrease) in Stockholders' Equity
Other comprehensive income (loss)	$ (235)				63	(1,472)	(49)	1,448
Gains (losses) on treasury stock dispositions and other									(759)
Stock-based compensation									413
Changes in other capital									(1,534)
Net earnings (loss) attributable to the Company	(22,355)									(22,355)
Dividends and other transactions with shareowners										(4,042)
Purchases												(268)
Dispositions												1,244
Ending balance at Dec. 31, 2018	51,481	[1]		(14,414)	(39)	(6,134)	13	(8,254)	35,504	93,109	368	(83,925)
Increase (Decrease) in Stockholders' Equity
Total equity balance decreased	(14,408)
Reduction of noncontrolling interest balance	19,239
Gain (loss) on disposals, net of taxes	3												$ 0	$ 0
Preferred stock issued	6
Common stock issued	702
GE shareholders' equity balance	30,981
Noncontrolling interests	20,500
Other comprehensive income (loss)	2,641				100	1,315	35	1,231
Gains (losses) on treasury stock dispositions and other									(925)
Stock-based compensation									475
Changes in other capital									(649)
Net earnings (loss) attributable to the Company	(4,979)									(4,979)
Dividends and other transactions with shareowners										(766)
Purchases												(57)
Dispositions												1,186
Ending balance at Dec. 31, 2019	29,861	[1]		(11,732)	61	(4,818)	49	(7,024)	34,405	87,732	$ (175)	(82,797)
Increase (Decrease) in Stockholders' Equity
Gain (loss) on disposals, net of taxes	(5,675)												(8,238)	2,508	$ 11,213
After-tax net realized and unrealized loss			$ (936)
Preferred stock issued	6
Common stock issued	702
GE shareholders' equity balance	28,316
Noncontrolling interests	1,545
Other comprehensive income (loss)	1,989				(1)	433	(77)	1,628
Gains (losses) on treasury stock dispositions and other									(703)
Stock-based compensation									429
Changes in other capital									176
Net earnings (loss) attributable to the Company	5,704		(9,940)							5,704
Dividends and other transactions with shareowners										(1,014)
Purchases												(28)
Dispositions												864
Ending balance at Dec. 31, 2020	37,073	[1]		$ (9,749)	$ 60	$ (4,386)	$ (28)	$ (5,395)	$ 34,307	$ 92,247		$ (81,961)
Increase (Decrease) in Stockholders' Equity
Gain (loss) on disposals, net of taxes	$ (32)												$ (23)	$ (12)
After-tax net realized and unrealized loss			$ (936)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Preferred stock issued	$ 6
Common stock issued	702
GE shareholders' equity balance	35,552
Noncontrolling interests	$ 1,522
[1]	Total equity balance decreased by $(14,408) million from December 31, 2018, primarily due to reduction of noncontrolling interest balance of $(19,239) million attributable to Baker Hughes Class A shareholders at December 31, 2018, after-tax loss of $(8,238) million in discontinued operations due to deconsolidation of Baker Hughes in 2019, and after-tax net realized and unrealized loss on our remaining interest in Baker Hughes of $(936) million in 2019 and 2020, partially offset by after-tax gain of $11,213 million due to the sale of our BioPharma business within our Healthcare segment, and after-tax gain of $2,508 million in discontinued operations due to spin-off and subsequent merger of our Transportation business with Wabtec in 2019.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FINANCIAL STATEMENT PRESENTATION. We present our financial statements in a three-column format, which allows investors to see our industrial operations separately from our financial services operations. We believe that this provides useful supplemental information to our consolidated financial statements. To the extent that we have transactions between GE Industrial and GE Capital, these transactions are made on arms- length terms, are reported in the respective columns of our financial statements and are eliminated in consolidation. See Note 24 for further information. Effective December 31, 2020, in order to enhance our financial statement presentation, we voluntarily made the following reporting changes for all periods presented: • changed our presentation of GE Industrial restructuring program costs. Previously these costs were recorded within Corporate Items and Eliminations. Now these costs are recorded within segment profit, except for significant, higher-cost programs that continue to be recorded within Corporate Items and Eliminations; • changed the presentation of our Statement of Financial Position to reflect the classification of assets and liabilities into current and non-current and revised the definition of operating working capital in our Statement of Cash Flows. For the classification of certain current assets and liabilities, we use the duration of our operating cycle, which may be longer than one year; • began presenting research and development expenses separately as part of costs and expenses in our consolidated Statement of Earnings (Loss). These costs were previously reported in costs of goods and services sold; and • ceased reporting GE Capital as an equity method investment within the GE Industrial column. This change has no impact on the GE Capital or Consolidated columns. Consistent with our historical practice, all commercial transactions between GE Industrial and GE Capital continue to be reported on arms-length terms and are eliminated upon consolidation. Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP), which requires us 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 our financial statements. 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 and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to COVID-19. Such changes could result in future impairments of goodwill, intangibles, long-lived assets and investment securities, revisions to estimated profitability on long-term product service agreements, incremental credit losses on receivables and debt securities, a decrease in the carrying amount of our tax assets, or an increase in our insurance liabilities and pension obligations as of the time of a relevant measurement event. In preparing our Statement of Cash Flows, we make certain adjustments to reflect cash flows that cannot otherwise be calculated by changes in our Statement of Financial Position. These adjustments may include, but are not limited to, the effects of currency exchange, acquisitions and dispositions of businesses, businesses classified as held for sale, the timing of settlements to suppliers for property, plant and equipment, non-cash gains/losses and other balance sheet reclassifications. We have reclassified certain prior-year amounts to conform to the current-year’s presentation. Unless otherwise noted, tables are presented in U.S. dollars in millions. Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. Earnings per share amounts are computed independently for earnings from continuing operations, earnings from discontinued operations and net earnings. As a result, the sum of per-share amounts may not equal the total. Unless otherwise indicated, information in these notes to consolidated financial statements relates to continuing operations. Certain of our operations have been presented as discontinued. We present businesses whose disposal represents a strategic shift that has, or will have, a major effect on our operations and financial results as discontinued operations when the components meet the criteria for held for sale, are sold, or spun-off. See Note 2 for further information. CONSOLIDATION. Our financial statements consolidate all of our affiliates, entities where we have a controlling financial interest, most often because we hold a majority voting interest, or where we are required to apply the variable interest entity (VIE) model because we have the power to direct the most economically significant activities of entities. We reevaluate whether we have a controlling financial interest in all entities when our rights and interests change. REVENUES FROM THE SALE OF EQUIPMENT. Performance Obligations Satisfied Over Time. We recognize revenue on agreements for the sale of customized goods including power generation equipment, long-term construction projects and military development contracts on an over-time basis as we customize the customer's equipment during the manufacturing or integration process and obtain right to payment for work performed. We recognize revenue as we perform under the arrangements using the percentage of completion method which is based on our costs incurred to date relative to our estimate of total expected costs. Our estimate of costs to be incurred to fulfill our promise to a customer is based on our history of manufacturing or constructing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. We provide for potential losses on these agreements when it is probable that we will incur the loss. Our billing terms for these over-time contracts are generally based on achieving specified milestones. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. See Note 9 for further information. Performance Obligations Satisfied at a Point in Time. We recognize revenue on agreements for non-customized equipment including commercial aircraft engines, healthcare equipment and other goods we manufacture on a standardized basis for sale to the market at the point in time that the customer obtains control of the good, which is generally no earlier than when the customer has physical possession of the product. We use proof of delivery for certain large equipment with more complex logistics, whereas the delivery of other equipment is estimated based on historical averages of in-transit periods (i.e., time between shipment and delivery). Where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have concluded that the customer has control of the goods and that acceptance is likely to occur. We do not provide for anticipated losses on point-in-time transactions prior to transferring control of the equipment to the customer. Our billing terms for these point-in-time equipment contracts generally coincide with delivery to the customer; however, within certain businesses, we receive progress collections from customers for large equipment purchases, to generally reserve production slots. REVENUES FROM THE SALE OF SERVICES. Consistent with our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) discussion and the way we manage our businesses, we refer to sales under service agreements, which includes both goods (such as spare parts and equipment upgrades) and related services (such as monitoring, maintenance and repairs) as sales of “services,” which is an important part of our operations. We sometimes offer our customers financing discounts for the purchase of certain GE Industrial products when sold in contemplation of long-term service agreements. These sales are accounted for as financing arrangements when payments for the products are collected through higher usage-based fees from servicing the equipment. See Note 9 for further information. Performance Obligations Satisfied Over Time. We enter into long-term service agreements with our customers primarily within our Aviation and Power segments. These agreements require us to provide preventative maintenance, overhauls, and standby "warranty-type" services that include certain levels of assurance regarding asset performance and uptime throughout the contract periods, which generally range from 5 to 25 years. We account for items that are integral to the maintenance of the equipment as part of our performance obligation, unless the customer has a substantive right to make a separate purchasing decision (e.g., equipment upgrade). We recognize revenue as we perform under the arrangements using the percentage of completion method which is based on our costs incurred to date relative to our estimate of total expected costs. Throughout the life of a contract, this measure of progress captures the nature, timing and extent of our underlying performance activities as our stand-ready services often fluctuate between routine inspections and maintenance, unscheduled service events and major overhauls at pre-determined usage intervals. We provide for potential losses on these agreements when it is probable that we will incur the loss. Our billing terms for these arrangements are generally based on the utilization of the asset (e.g., per hour of usage) or upon the occurrence of a major maintenance event within the contract, such as an overhaul. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. See Note 9 for further information. We also enter into long-term services agreements in our Healthcare and Renewable Energy segments. Revenues are recognized for these arrangements on a straight-line basis consistent with the nature, timing and extent of our services, which primarily relate to routine maintenance and as needed product repairs. We generally invoice periodically as services are provided. Performance Obligations Satisfied at a Point in Time. We sell certain tangible products, largely spare parts, through our services businesses. We recognize revenues and bill our customers at the point in time that the customer obtains control of the good, which is at the point in time we deliver the spare part to the customer. COLLABORATIVE ARRANGEMENTS. Our Aviation business enters into collaborative arrangements and joint ventures with manufacturers and suppliers of components used to build and maintain certain engines. Under these arrangements, GE and its collaborative partners share in the risks and rewards of these programs through various revenue, cost and profit sharing payment structures. GE recognizes revenue and costs for these arrangements based on the scope of work GE is responsible for transferring to its customers. GE’s payments to participants are primarily recorded as either cost of services sold ($1,221 million, $1,939 million and $1,809 million for the years ended December 31, 2020, 2019 and 2018, respectively) or as cost of goods sold ($2,279 million, $2,974 million and $3,097 million for the years ended December 31, 2020, 2019 and 2018, respectively). Our most significant collaborative arrangement is with Safran Aircraft engines, a subsidiary of Safran Group of France, which sells LEAP and CFM56 engines through CFM International, a jointly owned non-consolidated company. GE makes substantial sales of parts and services to CFM International based on arms-length terms. GE CAPITAL REVENUES FROM SERVICES. We recognize operating lease income on a straight-line basis over the terms of underlying leases, and we use the interest method to recognize income on loans and finance leases. We stop accruing interest on loans at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due. Estimated unguaranteed residual values for finance leases are based upon management's best estimates of the value of the leased asset at the end of the lease term. We use various sources of data in determining these estimates, including information obtained from third parties, which is adjusted for the attributes of the specific asset under lease. Guarantees of residual values by unrelated third parties are included within minimum lease payments. For traditional long-duration insurance contracts, we report premiums as revenue when due. Premiums received on non-traditional long-duration insurance contracts and investment contracts, including annuities without significant mortality risk, are not reported as revenues but rather as deposit liabilities. We recognize revenues for charges and assessments on these contracts, mostly for mortality, contract initiation, administration and surrender. Amounts credited to policyholder accounts are charged to expense. CASH, CASH EQUIVALENTS AND RESTRICTED CASH. Debt securities and money market instruments with original maturities of three months or less are included in cash, cash equivalents and restricted cash unless classified as available-for-sale investment securities. Restricted cash primarily comprised collateral for receivables sold and funds restricted in connection with certain ongoing litigation matters and amounted to $411 million and $589 million at December 31, 2020 and December 31, 2019, respectively. INVESTMENT SECURITIES. We report investments in available-for-sale debt securities and certain equity securities at fair value. Unrealized gains and losses on available-for-sale debt securities are recorded to other comprehensive income, net of applicable taxes and adjustments related to our insurance liabilities. Unrealized gains and losses on equity securities with readily determinable fair values are recorded to earnings. Although we generally do not have the intent to sell any specific debt securities in the ordinary course of managing our portfolio, we may sell debt securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders. We regularly review investment securities for impairment. For debt securities, if we do not intend to sell the security or it is not more likely than not that we will be required to sell the security before recovery of our amortized cost, we evaluate qualitative criteria, such as the financial health of and specific prospects for the issuer, to determine whether we do not expect to recover the amortized cost basis of the security. We also evaluate quantitative criteria including determining whether there has been an adverse change in expected future cash flows. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to contain an expected credit loss, and we record the difference between the security’s amortized cost basis and its recoverable amount in earnings as an allowance for credit loss and the difference between the security’s recoverable amount and fair value in other comprehensive income. If we intend to sell the security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, the security is considered impaired, and we recognize the entire difference between the security’s amortized cost basis and its fair value in earnings. See Note 3 for further information. CURRENT RECEIVABLES. Amounts due from customers arising from the sales of products and services are recorded at the outstanding amount, less allowance for losses. We regularly monitor the recoverability of our receivables. See Note 4 for further information. ALLOWANCE FOR CREDIT LOSSES. When we record customer receivables, contract assets and financing receivables arising from revenue transactions, as well as commercial mortgage loans and reinsurance recoverables in GE Capital’s run-off insurance operations, financial guarantees and certain commitments, we record an allowance for credit losses for the current expected credit losses (CECL) inherent in the asset over its expected life. The allowance for credit losses is a valuation account deducted from the amortized cost basis of the assets to present their net carrying value at the amount expected to be collected. Each period the allowance for credit losses is adjusted through earnings to reflect expected credit losses over the remaining lives of the assets. We evaluate debt securities with unrealized losses to determine whether any of the losses arise from concerns about the issuer’s credit or the underlying collateral and record an allowance for credit losses, if required. We estimate expected credit losses based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. When measuring expected credit losses, we pool assets with similar country risk and credit risk characteristics. Changes in the relevant information may significantly affect the estimates of expected credit losses. FINANCING RECEIVABLES. Our financing receivables portfolio consists of a variety of loans and leases, including both larger-balance, non-homogeneous loans and leases and smaller-balance homogeneous loans and leases. We routinely evaluate our entire portfolio for potential specific credit or collection issues that might indicate an impairment. See Note 5 for further information. INVENTORIES. All inventories are stated at lower of cost or realizable values. Cost of inventories is primarily determined on a first-in, first-out (FIFO) basis. See Note 6 for further information. PROPERTY, PLANT AND EQUIPMENT. The cost of GE Industrial property, plant and equipment is generally depreciated on a straight-line basis over its estimated economic life. The cost of GE Capital equipment leased to others on operating leases is depreciated on a straight-line basis to estimated residual value over the lease term or over the estimated economic life of the equipment. See Note 7 for further information. LEASE ACCOUNTING. Lessee Arrangements. At lease commencement, we record a lease liability and corresponding right-of-use (ROU) asset. Options to extend the lease are included as part of the ROU lease asset and liability when it is reasonably certain the Company will exercise the option. We have elected to include lease and non-lease components in determining our lease liability for all leased assets except our vehicle leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset. The present value of our lease liability is determined using our incremental collateralized borrowing rate at lease inception. For leases with an initial term of 12 months or less, an ROU asset and lease liability is not recognized and lease expense is recognized on a straight-line basis over the lease term. We test ROU assets whenever events or changes in circumstance indicate that the asset may be impaired. Lessor Arrangements. Equipment leased to others under operating leases are included in Property, plant and equipment, and leases classified as finance leases are included in Financing receivables on our Statement of Financial Position. See Notes 5 and 7 for further information. GOODWILL AND OTHER INTANGIBLE ASSETS. We test goodwill at least annually for impairment at the reporting unit level. We recognize an impairment charge if the carrying amount of a reporting unit exceeds its fair value. When a portion of a reporting unit is disposed, goodwill is allocated to the gain or loss on disposition based on the relative fair values of the business or businesses disposed and the portion of the reporting unit that will be retained. For other intangible assets that are not deemed indefinite-lived, cost is generally amortized on a straight-line basis over the asset’s estimated economic life, except for individually significant customer-related intangible assets that are amortized in relation to total related sales. Amortizable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. In these circumstances, they are tested for impairment based on undiscounted cash flows and, if impaired, written down to estimated fair value based on either discounted cash flows or appraised values. See Note 8 for further information. DERIVATIVES AND HEDGING. We use derivatives to manage a variety of risks, including risks related to interest rates, foreign exchange, certain equity investments and commodity prices. Accounting for derivatives as hedges requires that, at inception and over the term of the arrangement, the hedged item and related derivative meet the requirements for hedge accounting. In evaluating whether a particular relationship qualifies for hedge accounting, we test effectiveness at inception and each reporting period thereafter by determining whether changes in the fair value of the derivative offset, within a specified range, changes in the fair value of the hedged item. If fair value changes fail this test, we discontinue applying hedge accounting to that relationship prospectively. Fair values of both the derivative instrument and the hedged item are calculated using internal valuation models incorporating market-based assumptions, subject to third-party confirmation, as applicable. See Note 21 for further information. DEFERRED INCOME TAXES. Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carryforwards, and are stated at enacted tax rates expected to be in effect when those taxes are paid or recovered. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. We evaluate the recoverability of these future tax deductions and credits by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent we consider it more likely than not that a deferred tax asset will not be recovered, a valuation allowance is established. Deferred taxes, as needed, are provided for our investment in affiliates and associated companies when we plan to remit those earnings. See Note 15 for further information. INSURANCE LIABILITIES AND ANNUITY BENEFITS. Our run-off insurance operations include providing insurance and reinsurance for life and health risks and providing certain annuity products. Primary product types include long-term care, structured settlement annuities, life and disability insurance contracts and investment contracts. Insurance contracts are contracts with significant mortality and/or morbidity risks, while investment contracts are contracts without such risks. Liabilities for traditional long-duration insurance contracts include both future policy benefit reserves and claims reserves. Future policy benefit reserves represent the present value of future policy benefits less the present value of future gross premiums based on actuarial assumptions. Liabilities for investment contracts equal the account value, that is, the amount that accrues to the benefit of the contract or policyholder including credited interest and assessments through the financial statement date. Claim reserves are established when a claim is incurred or is estimated to have been incurred and represent our best estimate of the present value of the ultimate obligations for future claim payments and claim adjustments expenses. To the extent that unrealized gains on specific investment securities supporting our insurance contracts would result in a premium deficiency, should those gains be realized, an increase in future policy benefit reserves is recorded, with an offsetting after-tax reduction to net unrealized gains recorded in other comprehensive income. Reinsurance recoverables are recorded when we cede insurance risk to third parties but are not relieved from our primary obligation to policyholders and cedents. When losses on ceded risks give rise to claims for recovery, we establish allowances for probable losses on such receivables from reinsurers as required. See Note 12 for further information. POSTRETIREMENT BENEFIT PLANS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. We use a December 31 measurement date for these plans. On our consolidated Statement of Financial Position, we measure our plan assets at fair value and the obligations at the present value of the estimated payments to plan participants. Participants earn benefits based on their service and pay. Those estimated future payment amounts are determined based on assumptions. Differences between our actual results and what we assumed are recorded in a separate component of equity each period. These differences are amortized into earnings over the remaining average future service of active employees or the expected life of inactive participants, as applicable, who participate in the plan. See Note 13 for further information. LOSS CONTINGENCIES. Loss contingencies are uncertain and unresolved matters that arise in the ordinary course of business and result from events or actions by others that have the potential to result in a future loss. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory investigations and proceedings, product quality and losses resulting from other events and developments. When a loss is considered probable and reasonably estimable, we record a liability in the amount of our best estimate for the ultimate loss. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low-end of such range. Disclosure is provided for material loss contingencies when a loss is probable but a reasonable estimate cannot be made, and when it is reasonably possible that a loss will be incurred or the amount of a loss will exceed the recorded provision. We regularly review contingencies to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or range of loss can be made. See Note 23 for further information. SUPPLY CHAIN FINANCE PROGRAMS. We evaluate supply chain finance programs to ensure where we use a third-party intermediary to settle our trade payables, their involvement does not change the nature, existence, amount, or timing of our trade payables and does not provide the Company with any direct economic benefit. If any characteristics of the trade payables change or we receive a direct economic benefit, we reclassify the trade payables as borrowings. FAIR VALUE MEASUREMENTS. The following sections describe the valuation methodologies we use to measure financial and non-financial instruments accounted for at fair value including certain assets within our pension plans and retiree benefit plans. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. These inputs establish a fair value hierarchy: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 – Significant inputs to the valuation model are unobservable. RECURRING FAIR VALUE MEASUREMENTS. For financial assets and liabilities measured at fair value on a recurring basis, primarily investment securities and derivatives, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. See Note 20 for further information. Debt Securities. When available, we use quoted market prices to determine the fair value of debt securities which are included in Level 1. For our remaining debt securities, we obtain pricing information from an independent pricing vendor. The inputs and assumptions to the pricing vendor’s models are derived from market observable sources including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other market-related data. These investments are included in Level 2. Our pricing vendors may also provide us with valuations that are based on significant unobservable inputs, and in those circumstances, we classify the investment securities in Level 3. Annually, we conduct reviews of our primary pricing vendor to validate that the inputs used in that vendor’s pricing process are deemed to be market observable as defined in the standard. We believe that the prices received from our pricing vendor are representative of prices that would be received to sell the assets at the measurement date (exit prices) and are classified appropriately in the hierarchy. We use non-binding broker quotes and other third-party pricing services as our primary basis for valuation when there is limited, or no, relevant market activity for a specific instrument or for other instruments that share similar characteristics. Debt securities priced in this manner are included in Level 3. Equity securities with readily determinable fair values . These publicly traded equity securities are valued using quoted prices and are included in Level 1. Derivatives. The majority of our derivatives are valued using internal models. The models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent interest rate swaps, cross-currency swaps and foreign currency and commodity forward and option contracts. Derivative assets and liabilities included in Level 3 primarily represent equity derivatives and interest rate products that contain embedded optionality or prepayment features. Investments in private equity, real estate and collective funds held within our pension plans . These investments are generally valued using the net asset value (NAV) per share as a practical expedient for fair value provided certain criteria are met. The NAVs are determined based on the fair values of the underlying investments in the funds. Investments that are measured at fair value using the NAV practical expedient are not required to be classified in the fair value hierarchy. See Note 13 for further information. NONRECURRING FAIR VALUE MEASUREMENTS. Certain assets are measured at fair value on a nonrecurring basis. These assets may include loans and long-lived assets reduced to fair value upon classification as held for sale, impaired loans based on the fair value of the underlying collateral, impaired equity securities without readily determinable fair value, equity method investments and long-lived assets, and remeasured retained investments in formerly consolidated subsidiari

BUSINESSES HELD FOR SALE AND DI

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS	NOTE 2. BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS ASSETS AND LIABILITIES OF BUSINESSES HELD FOR SALE. On March 31, 2020, we completed the sale of our BioPharma business within our Healthcare segment for total consideration of $21,112 million (after certain working capital adjustments). The consideration consisted of $20,695 million in cash and $417 million of pension liabilities that were assumed by Danaher. In addition, we incurred $185 million of cash payments directly associated with the transaction. As a result, we recognized a pre-tax gain of $12,362 million ($11,213 million after-tax) in our consolidated Statement of Earnings (Loss). In the first half of 2020, we sold all our remaining businesses classified as held for sale, including the remaining Lighting business within Corporate and the remaining PK AirFinance business within our Capital segment. DISCONTINUED OPERATIONS. Discontinued operations primarily include certain businesses in our GE Capital segment (our mortgage portfolio in Poland and trailing liabilities associated with the sale of our GE Capital businesses) and our Baker Hughes and Transportation segments. Results of operations, financial position and cash flows for these businesses are reported as discontinued operations for all periods presented. In September 2019, we reduced our ownership interest in Baker Hughes from 50.2% to 36.8%. As a result, we deconsolidated our Baker Hughes segment and reclassified its results to discontinued operations for all periods presented and recognized a loss of $8,715 million ($8,238 million after-tax). We have continuing involvement with Baker Hughes (BKR) primarily through our remaining interest, ongoing purchases and sales of products and services, transition services that we provide to BKR, as well as an aeroderivative joint venture (JV) we formed with BKR in the fourth quarter of 2019. The JV is jointly controlled by GE and BKR and is consolidated by GE due to the significance of our investment in BKR. Our Aviation segment sells products and services to the JV. In turn, the JV sells products and services primarily to BKR and our Power segment. Transactions between the JV and GE businesses are eliminated in consolidation. During 2020, we had sales of $563 million to BKR for products and services from the JV, and we collected cash of $603 million from Baker Hughes. If our investment in BKR is reduced to below 20%, we would no longer have significant influence in BKR and, as a result, we would not consolidate the JV. A potential deconsolidation of the JV is not expected to have a material impact on GE Industrial free cash flows. For the year ended December 31, 2020, we had sales of $839 million and purchases of $216 million with BKR for products and services outside of the JV. We collected net cash of $855 million from BKR related to sales, purchases and transition services. In addition, we received $204 million of repayments on the promissory note receivable from BKR and dividends of $267 million on our investment. In February 2019, we completed the spin-off and subsequent merger of our Transportation business with Wabtec. As a result, we recorded a gain of $3,471 million ($2,508 million after-tax) in discontinued operations. RESULTS OF DISCONTINUED OPERATIONS For the year ended December 31, 2020 Baker Hughes Transportation and Other GE Capital Total Sales of goods and services $ — $ — $ — $ — GE Capital revenues and other income (loss) — — 55 55 Cost of goods and services sold — — — — Other income, costs and expenses 2 — (252) (249) — Earnings (loss) of discontinued operations before income taxes 2 — (197) (195) Benefit (provision) for income taxes (13) 9 105 101 Earnings (loss) of discontinued operations, net of taxes(a) (10) 9 (92) (93) Gain (loss) on disposal before income taxes (23) (12) 3 (31) Benefit (provision) for income taxes — — (1) (1) Gain (loss) on disposal, net of taxes (23) (12) 2 (32) Earnings (loss) from discontinued operations, net of taxes $ (33) $ (3) $ (90) $ (125) For the year ended December 31, 2019 Sales of goods and services $ 16,047 $ 550 $ — $ 16,598 GE Capital revenues and other income (loss) — — 33 33 Cost of goods and services sold (13,317) (478) — (13,795) Other income, costs and expenses (2,390) (19) (240) (2,650) Earnings (loss) of discontinued operations before income taxes 340 53 (207) 186 Benefit (provision) for income taxes (176) (15) 344 153 Earnings (loss) of discontinued operations, net of taxes(a) 165 39 136 339 Gain (loss) on disposal before income taxes (8,715) 3,471 61 (5,183) Benefit (provision) for income taxes 477 (963) (5) (491) Gain (loss) on disposal, net of taxes (8,238) 2,508 56 (5,675) Earnings (loss) from discontinued operations, net of taxes $ (8,074) $ 2,547 $ 192 $ (5,335) For the year ended December 31, 2018 Sales of goods and services $ 22,859 $ 3,898 $ — $ 26,757 GE Capital revenues and other income (loss) — — (1,347) (1,347) Cost of goods and services sold (19,198) (2,809) — (22,007) Other income, costs and expenses (3,346) (607) (407) (4,360) Earnings (loss) of discontinued operations before income taxes 315 482 (1,755) (958) Benefit (provision) for income taxes (347) (143) 82 (408) Earnings (loss) of discontinued operations, net of taxes(a) (33) 339 (1,673) (1,366) Gain (loss) on disposal before income taxes — — 4 4 Benefit (provision) for income taxes — — (1) (1) Gain (loss) on disposal, net of taxes — — 3 3 Earnings (loss) from discontinued operations, net of taxes $ (33) $ 339 $ (1,670) $ (1,363) (a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(94) million, $279 million and $(1,367) million for the years ended December 31, 2020, 2019 and 2018, respectively. December 31 2020 2019 Cash, cash equivalents and restricted cash $ 524 $ 638 Investment securities — 202 Current receivables 61 81 Financing receivables held for sale (Polish mortgage portfolio) 2,437 2,485 Property, plant and equipment - net 109 123 Deferred income taxes 199 264 All other assets 202 317 Assets of discontinued operations(a) $ 3,532 $ 4,109 Accounts payable & Progress collections and deferred income $ 20 $ 40 All other liabilities 180 163 Liabilities of discontinued operations(a)(b) $ 200 $ 203 (a) Assets and liabilities of discontinued operations included $3,388 million and $61 million related to GE Capital as of December 31, 2020.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	NOTE 3. INVESTMENT SECURITIES All of our debt securities are classified as available-for-sale and substantially all are investment-grade supporting obligations to annuitants and policyholders in our run-off insurance operations. Changes in their fair value are recorded in Other comprehensive income. Equity securities with readily determinable fair values are also included within this caption and changes in their fair value are recorded in Other income within continuing operations. Where we adopt the fair value option for our investment in an associated company, our investment in and any advances to are recorded as Equity securities with readily determinable fair values. We classify investment securities as current or non-current based on our intent regarding the usage of proceeds from those investments. Investment securities held within insurance entities are classified as non-current as they support the long-duration insurance liabilities. 2020 2019 December 31 Amortized Gross Gross Estimated Amortized Gross Gross Estimated Equity (Baker Hughes) $ 7,319 $ — $ — $ 7,319 $ 9,888 $ — $ — $ 9,888 Current investment securities $ 7,319 $ — $ — $ 7,319 $ 9,888 $ — $ — $ 9,888 Debt U.S. corporate $ 23,604 $ 6,651 $ (26) $ 30,230 $ 23,037 $ 4,636 $ (11) $ 27,661 Non-U.S. corporate 2,283 458 (1) 2,740 2,161 260 (1) 2,420 State and municipal 3,387 878 (9) 4,256 3,086 598 (15) 3,669 Mortgage and asset-backed 3,652 171 (71) 3,752 3,117 116 (4) 3,229 Government and agencies 1,169 184 — 1,353 1,391 126 — 1,516 Other equity 218 — — 218 136 — — 136 Non-current investment securities $ 34,313 $ 8,342 $ (106) $ 42,549 $ 32,928 $ 5,736 $ (31) $ 38,632 Total $ 41,632 $ 8,342 $ (106) $ 49,868 $ 42,816 $ 5,736 $ (31) $ 48,521 The amortized cost of debt securities as of December 31, 2020 excludes accrued interest of $414 million, which is reported in Other GE Capital receivables. The estimated fair values of investment securities increased since December 31, 2019, primarily due to a decrease in market yields and new investments in our insurance business, partially offset by the mark-to-market effects on our remaining interest in BKR. Total estimated fair value of debt securities in an unrealized loss position were $1,765 million and $999 million, of which $165 million and $274 million had gross unrealized losses of $(20) million and $(20) million and had been in a loss position for 12 months or more at December 31, 2020 and 2019, respectively. Gross unrealized losses of $(106) million at December 31, 2020 included $(26) million related to U.S. corporate securities, primarily in the energy industry, and $(70) million related to commercial mortgage-backed securities (CMBS). Substantially all of our CMBS in an unrealized loss position have received investment-grade credit ratings from the major rating agencies and are collateralized by pools of commercial mortgage loans on real estate. Net unrealized gains (losses) for equity securities with readily determinable fair values were $(1,670) million, $800 million and an insignificant amount for the years ended December 31, 2020, 2019 and 2018, respectively. Proceeds from debt and equity securities sales, early redemptions by issuers and principal payments on the BKR promissory note totaled $5,060 million, $7,967 million and $3,222 million for the years ended December 31, 2020, 2019, and 2018, respectively. Gross realized gains on investment securities were $177 million, $115 million and $249 million, and gross realized losses and impairments were $(364) million, $(203) million and $(41) million for the years ended December 31, 2020, 2019 and 2018, respectively. GE Capital cash flows associated with purchases, dispositions and maturities of investment securities are as follows: For the years ended December 31 2020 2019 Purchases of investment securities $ (6,031) $ (6,205) Dispositions and maturities of investment securities 4,679 4,589 Net (purchases) dispositions of GE Capital investment securities $ (1,352) $ (1,616) Contractual maturities of our debt securities (excluding mortgage and asset-backed securities) at December 31, 2020 are as follows: Amortized Estimated Due Within one year $ 494 $ 501 After one year through five years 2,781 3,070 After five years through ten years 6,390 7,687 After ten years 20,778 27,321 We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations. In addition to the equity securities described above, we hold $285 million and $517 million of equity securities without readily determinable fair value at December 31, 2020 and December 31, 2019, respectively, that are classified within All other assets in our consolidated Statement of Financial Position. Fair value adjustments, including impairments, recorded in earnings were $(161) million for the year ended December 31, 2020 and insignificant amounts for both years ended December 31, 2019 and 2018.

CURRENT AND LONG-TERM RECEIVABL

CURRENT AND LONG-TERM RECEIVABLES	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
CURRENT AND LONG-TERM RECEIVABLES	NOTE 4. CURRENT AND LONG-TERM RECEIVABLES Consolidated GE Industrial December 31 2020 2019 2020 2019 Power $ 3,995 $ 4,689 $ 2,656 $ 3,289 Renewable Energy 2,401 2,306 1,903 1,749 Aviation(a) 4,417 3,249 3,490 2,867 Healthcare 2,336 2,105 1,498 1,379 Corporate 310 246 293 223 Customer receivables 13,459 12,594 9,841 9,507 Sundry receivables(b)(c) 4,395 4,848 4,763 5,047 Allowance for losses(d) (1,164) (874) (1,161) (872) Total current receivables $ 16,691 $ 16,568 $ 13,442 $ 13,682 (a) Includes Aviation receivables from CFM due to 737 MAX temporary fleet grounding of $448 million and $1,397 million as of December 31, 2020 and 2019, respectively. During 2020, CFM and Boeing reached an agreement to secure payment terms for engines delivered in 2019 and 2020, net of progress collections. Based on the agreement, the receivable is expected to be collected from Boeing through the first quarter of 2021. (b) Includes supplier advances, revenue sharing programs receivables in our Aviation business, other non-income based tax receivables, primarily value-added tax related to our operations in various countries outside of the U.S., receivables from disposed businesses, including receivables for transactional agreements and certain intercompany balances that eliminate upon consolidation. Revenue sharing programs receivables in Aviation are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties. (c) Consolidated current receivables include deferred purchase price which represents our retained risk with respect to current customer receivables sold to third parties through one of the receivable facilities. The balance of the deferred purchase price held by GE Capital at December 31, 2020 and 2019, was $413 million and $421 million, respectively. (d) GE Industrial allowance for credit losses primarily increased due to net provisions of $274 million, offset by write-offs and foreign currency impact. Sales of GE Industrial current customer receivables. When GE Industrial sells customer receivables to GE Capital or third parties, it accelerates the receipt of cash that would have otherwise been collected from customers. In any given period, the amount of cash received from sales of customer receivables compared to the cash GE Industrial would have otherwise collected had those customer receivables not been sold represents the cash generated or used in the period relating to this activity. GE Industrial sales of customer receivables to GE Capital or third parties are made on arms-length terms and any discount related to time value of money is recognized by GE Industrial when the customer receivables are sold. In our Statement of Cash Flows, receivables purchased and retained by GE Capital are reflected as cash from operating activities at GE Industrial, primarily as cash used for investing activities at GE Capital and are eliminated in consolidation. Collections on receivables purchased by GE Capital are reflected primarily as cash from investing activities at GE Capital and are reclassified to cash from operating activities in consolidation. As of December 31, 2020 and 2019, GE Industrial sold approximately 40% and 51%, respectively, of its gross customer receivables to GE Capital or third parties. Any difference between the carrying value of receivables sold and total cash collected is recognized as financing costs by GE Industrial in Interest and other financial charges in our consolidated Statement of Earnings (Loss). Costs of $264 million and $515 million were recognized during the years ended December 31, 2020 and 2019, respectively. The decrease in costs from prior year was driven by lower sales of receivables as well as lower benchmark interest rates. Activity related to customer receivables sold by GE Industrial is as follows: GE Capital Third Parties GE Capital Third Parties 2020 2019 Balance at January 1 $ 3,087 $ 6,757 $ 4,386 $ 7,880 GE Industrial sales to GE Capital 32,869 — 40,988 — GE Industrial sales to third parties — 863 — 5,286 GE Capital sales to third parties (18,654) 18,654 (28,073) 28,073 Collections and other (14,004) (23,283) (14,621) (34,482) Reclassification from long-term customer receivables 321 — 407 — Balance at December 31 $ 3,618 (a) $ 2,992 $ 3,087 (a) $ 6,757 (a) At December 31, 2020 and 2019, $505 million and $539 million, respectively, of the current receivables purchased and retained by GE Capital, had been sold by GE Industrial to GE Capital with recourse (i.e., GE Industrial retains all or some risk of default). The effect on GE Industrial cash flows from operating activities (CFOA) of claims by GE Capital on receivables sold with recourse was insignificant for the years ended December 31, 2020 and 2019. LONG-TERM RECEIVABLES Consolidated GE Industrial December 31 2020 2019 2020 2019 Long-term customer receivables(a) $ 585 $ 906 $ 474 $ 506 Long-term sundry receivables(b) 1,748 1,705 2,097 2,035 Allowance for losses (142) (128) (142) (128) Total long-term receivables $ 2,191 $ 2,483 $ 2,430 $ 2,413 (a) As of December 31, 2020 and 2019, GE Capital held $111 million and $400 million, respectively, of GE Industrial long-term customer receivables, of which $98 million and $312 million had been purchased with recourse (i.e., GE Industrial retains all or some risk of default). GE Industrial sold an insignificant amount of long-term customer receivables during the years ended December 31, 2020 and 2019. (b) Includes supplier advances, revenue sharing programs receivables, other non-income based tax receivables and certain intercompany balances that eliminate upon consolidation. UNCONSOLIDATED RECEIVABLES FACILITIES. GE Capital has two revolving receivables facilities, under which customer receivables purchased from GE Industrial are sold to third parties. In the first facility, which has a program size of $2,000 million, upon the sale of receivables, we receive proceeds of cash and deferred purchase price and the Company’s remaining risk with respect to the sold receivables is limited to the balance of the deferred purchase price. The program size of the first facility at December 31, 2019 was $3,100 million. Under the second facility, upon the sale of receivables, we receive the proceeds of cash only and therefore the Company has no remaining risk with respect to the sold receivables. In December 2020, GE Capital did not renew the second facility. The program size of the second facility at December 31, 2019 was $1,200 million. Activity related to these facilities is included in GE Capital sales to third parties line in the sales of GE Industrial current customer receivables table above and is as follows: For the years ended December 31 2020 2019 Customer receivables sold to receivables facilities $ 13,591 $ 21,695 Total cash purchase price for customer receivables 13,031 21,202 Cash collections re-invested to purchase customer receivables 11,567 18,012 Non-cash increases to deferred purchase price $ 481 $ 257 Cash payments received on deferred purchase price 489 303 Cash payments received on deferred purchase price are reflected as cash from investing activities in both the GE Capital and consolidated columns within our Statement of Cash Flows.

FINANCING RECEIVABLES AND ALLOW

FINANCING RECEIVABLES AND ALLOWANCES	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
FINANCING RECEIVABLES AND ALLOWANCES	NOTE 5. FINANCING RECEIVABLES AND ALLOWANCES Consolidated GE Capital December 31 2020 2019 2020 2019 Loans, net of deferred income $ 1,300 $ 1,098 $ 5,124 $ 4,927 Allowance for losses (36) (21) (13) (5) Current financing receivables - net 1,265 1,077 5,110 4,922 Investment in financing leases, net of deferred income 1,805 2,070 1,805 2,070 Allowance for losses (34) (12) (34) (12) Non-current financing receivables - net 1,771 2,057 1,771 2,057 Total financing receivables – net $ 3,036 $ 3,134 $ 6,882 $ 6,979 Cash flows associated with GE Capital financing receivables are as follows: For the years ended December 31 2020 2019 Increase in loans to customers $ (15,155) $ (15,022) Principal collections from customers - loans 15,311 18,083 Sales of financing receivables and other 42 328 Net decrease (increase) in GE Capital financing receivables $ 199 $ 3,389 Consolidated finance lease income was $144 million, $173 million and $275 million for the years ended December 31, 2020, 2019 and 2018, respectively. NET INVESTMENT IN FINANCING LEASES Total financing leases Direct financing and sales type leases(a) Leveraged leases December 31 2020 2019 2020 2019 2020 2019 Total minimum lease payments receivable $ 1,202 $ 1,628 $ 654 799 $ 548 $ 829 Less principal and interest on third-party non-recourse debt (83) (216) — — (83) (216) Net minimum lease payments receivable 1,119 1,412 654 799 465 613 Less deferred income (133) (178) (99) (139) (34) (39) Discounted lease receivable 986 1,234 556 660 431 574 Estimated unguaranteed residual value of leased assets, net of deferred income 819 835 472 412 347 423 Investment in financing leases, net of deferred income(b) $ 1,805 $ 2,070 $ 1,028 $ 1,072 $ 777 $ 997 (a) Included $506 million of investment in sales type leases at both December 31, 2020 and 2019. (b) See Note 15 for deferred tax amounts related to financing leases. CONTRACTUAL MATURITIES, DUE IN 2021 2022 2023 2024 2025 Thereafter Total Total loans $ 4,199 $ 261 $ 142 $ 134 $ 318 $ 68 $ 5,124 Net minimum lease payments receivable 294 200 281 193 68 83 1,119 We expect actual maturities to differ from contractual maturities, primarily as a result of prepayments. We manage our GE Capital financing receivables portfolio using delinquency and nonaccrual data as key performance indicators. At December 31, 2020, 5.7%, 5.0% and 5.3% of financing receivables were over 30 days past due, over 90 days past due and on nonaccrual, respectively, with the vast majority of nonaccrual financing receivables secured by collateral. At December 31, 2019, 4.2%, 2.9% and 6.1% of financing receivables were over 30 days past due, over 90 days past due and on nonaccrual, respectively.

INVENTORIES, INCLUDING DEFERRED

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS	NOTE 6. INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS December 31 2020 2019 Raw materials and work in process $ 7,937 $ 8,771 Finished goods 5,654 5,333 Deferred inventory costs(a) 2,299 3,111 Inventories, including deferred inventory costs $ 15,890 $ 17,215

PROPERTY, PLANT AND EQUIPMENT A

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES	NOTE 7. PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES Depreciable lives Original Cost Net Carrying Value December 31 (in years) 2020 2019 2020 2019 Land and improvements 8 $ 599 $ 608 $ 589 $ 596 Buildings, structures and related equipment 8 - 40 8,210 7,824 3,828 3,875 Machinery and equipment 4 - 20 20,915 20,082 7,869 8,360 Leasehold costs and manufacturing plant under construction 1 - 10 2,028 2,165 1,350 1,539 ROU operating lease assets 2,798 3,077 GE Industrial $ 31,751 $ 30,680 $ 16,433 $ 17,447 Land and improvements, buildings, structures and related equipment 1 - 40 $ 144 $ 149 $ 23 $ 29 Equipment leased to others (ELTO)(a) Aircraft 15 - 20 34,372 35,507 20,931 21,414 Engines 15 - 20 4,957 4,113 3,540 3,283 Helicopters 15 - 20 5,750 5,474 4,724 4,709 All other 15 - 35 235 237 194 214 ROU operating lease assets 189 237 GE Capital $ 45,458 $ 45,480 $ 29,600 $ 29,886 Eliminations (1,282) (1,279) (1,372) (1,453) Property, plant and equipment - net $ 75,927 $ 74,880 $ 44,662 $ 45,879 (a) Included $1,475 million and $1,539 million of original cost of assets leased to GE Industrial with accumulated amortization of $(306) million and $(251) million at December 31, 2020 and 2019, respectively. Consolidated depreciation and amortization related to property, plant and equipment was $4,636 million, $4,026 million and $4,419 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization of GE Capital ELTO was $2,527 million, $2,019 million and $2,089 million for the years ended December 31, 2020, 2019 and 2018, respectively. In the third quarter of 2020, we recognized a non-cash pre-tax impairment charge of $316 million related to property, plant and equipment at our Steam business within our Power segment due to our recent announcement to exit the new build coal power market. We determined the fair value of these assets using an income approach. This charge was recorded by Corporate in Selling, general, and administrative expenses in our consolidated Statement of Earnings (Loss). During 2020, our GE Capital Aviation Services (GECAS) business recognized pre-tax impairments of $542 million, primarily on its fixed-wing aircraft operating lease portfolio. Pre-tax impairments were $74 million for 2019. We determined the fair values of these assets using primarily the income approach. These charges are included in costs of services sold within the Statement of Earnings (Loss) and within our Capital segment. Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2020, are as follows: 2021 2022 2023 2024 2025 Thereafter Total $ 2,833 $ 2,451 $ 2,072 $ 1,970 $ 1,658 $ 5,316 $ 16,300 Income on our operating lease portfolio, primarily from our GECAS business, was $3,342 million, $3,804 million, and $4,075 million for the years ended December 31, 2020, 2019, and 2018, respectively, and comprises fixed lease income of $2,834 million, $3,045 million and $3,243 million and variable lease income of $508 million, $759 million and $832 million, respectively. Operating Lease Liabilities. Our consolidated operating lease liabilities, included within All other liabilities OPERATING LEASE EXPENSE 2020 2019 2018 Long-term (fixed) $ 745 $ 834 $ 966 Long-term (variable) 118 136 177 Short-term 209 206 133 Total operating lease expense $ 1,072 $ 1,176 $ 1,276 MATURITY OF LEASE LIABILITIES 2021 2022 2023 2024 2025 Thereafter Total Undiscounted lease payments $ 727 $ 648 $ 549 $ 437 $ 267 $ 805 $ 3,433 Less: imputed interest (460) Total lease liability as of December 31, 2020 $ 2,973 SUPPLEMENTAL INFORMATION RELATED TO OPERATING LEASES 2020 2019 Operating cash flows used for operating leases $ 766 $ 888 Right-of-use assets obtained in exchange for new lease liabilities $ 600 $ 746 Weighted-average remaining lease term 6.6 years 6.9 years Weighted-average discount rate 4.5 % 4.9 %

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS CHANGES IN GOODWILL BALANCES 2019 2020 Balance at Dispositions Impairments Currency exchange and other Balance at Acquisitions Impairments Currency exchange and other Balance at Power $ 139 $ — $ — $ 6 $ 145 $ — $ — $ — $ 146 Renewable Energy 4,730 — (1,486) 46 3,290 — — 111 3,401 Aviation 9,839 — — 20 9,859 — (877) 266 9,247 Healthcare 17,226 (5,558) — 60 11,728 89 — 37 11,855 Capital 904 (39) — (26) 839 — (839) — — Corporate(a) 1,136 — — (262) 873 — — 2 876 Total $ 33,974 $ (5,597) $ (1,486) $ (156) $ 26,734 $ 90 $ (1,717) $ 417 $ 25,524 (a) Corporate balance at December 31, 2020 and 2019 is our Digital business. In the fourth quarter of 2020, we performed our annual impairment test. Based on the results of this test, the fair values of each of our reporting units exceeded their carrying values. We continue to monitor the operating results and cash flow forecasts of our Additive reporting unit in our Aviation segment as the fair value of this reporting unit was not significantly in excess of its carrying value. At December 31, 2020, our Additive reporting unit had goodwill of $243 million. In the second quarter of 2020 we performed an interim impairment test at our Additive reporting unit within our Aviation segment and GECAS reporting unit within our Capital segment, both of which incorporated a combination of income and market valuation approaches. The results of the analysis indicated that carrying values of both reporting units were in excess of their respective fair values. Therefore, we recorded non-cash impairment losses of $877 million and $839 million for the Additive and GECAS reporting units, respectively, in the caption Goodwill impairments in our consolidated Statement of Earnings (Loss). All of the goodwill in Additive was the result of the Arcam AB and Concept Laser GmBH acquisitions in 2016. Of the $839 million of goodwill for GECAS, $729 million arose from the acquisition of Milestone Aviation, our helicopter leasing business, in 2015. After the impairment charges, there was no goodwill remaining in our GECAS reporting unit. In 2019, goodwill decreased by $7,240 million, primarily as a result of transferring goodwill in our BioPharma business within our Healthcare segment to held for sale in the amount of $5,548 million, and recognizing a total non-cash goodwill impairment loss in our Grid Solutions equipment and services and Hydro reporting units in our Renewable Energy segment of $744 million and $742 million, respectively. After the impairment charges, the Grid Solutions equipment and services and Hydro reporting units have no remaining goodwill. Determining the fair value of reporting units requires the use of estimates and significant judgments that are based on a number of factors including actual operating results. It is reasonably possible that the judgments and estimates described above could change in future periods. 2020 2019 INTANGIBLE ASSETS SUBJECT TO AMORTIZATION December 31 Useful lives Gross carrying Accumulated Net Gross carrying Accumulated Net Customer-related(a) 3 - 30 $ 6,862 $ (3,432) $ 3,430 $ 6,770 $ (3,070) $ 3,701 Patents and technology 2 - 25 8,191 (4,135) 4,056 8,180 (3,730) 4,450 Capitalized software 3 - 10 5,826 (3,840) 1,986 5,822 (3,651) 2,171 Trademarks & other 3 - 50 778 (477) 301 737 (406) 332 Total $ 21,657 $ (11,883) $ 9,774 $ 21,510 $ (10,857) $ 10,653 (a) Balance includes payments made to our customers, primarily within our Aviation business. Intangible assets decreased in 2020, primarily as a result of amortization. Consolidated amortization expense was $1,382 million, $1,569 million and $2,163 million for the years ended December 31, 2020, 2019 and 2018, respectively. Included within amortization expense for the years ended December 31, 2020, 2019 and 2018 were non-cash pre-tax impairment charges of $113 million, $103 million, and $428 million respectively. In the third quarter of 2020, we recognized a non-cash pre-tax impairment charge of $113 million related to intangible assets at our Steam business within our Power segment due to our recent announcement to exit the new build coal power market. We determined the fair value of these intangible assets using an income approach. This charge was recorded by Corporate in Selling, general, and administrative expenses in our consolidated Statement of Earnings (Loss). Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows: ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION 2021 2022 2023 2024 2025 Estimated annual pre-tax amortization $ 1,162 $ 1,085 $ 992 $ 889 $ 817 During 2020, we recorded additions to intangible assets subject to amortization of $420 million with a weighted-average amortizable period of 5.9 years, including capitalized software of $360 million, with a weighted-average amortizable period of 5.2 years.

CONTRACT AND OTHER DEFERRED ASS

CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME	12 Months Ended
	Dec. 31, 2020
Contractors [Abstract]
CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME	NOTE 9. CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME Contract and other deferred assets decreased $1,474 million in 2020. Our long-term service agreements decreased primarily due to billings of $9,571 million and a net unfavorable change in estimated profitability of $229 million at Power and $1,100 million at Aviation, offset by revenues recognized of $8,971 million. The decrease in long-term service agreements included a $587 million pre-tax charge, at Aviation, to reflect the cumulative COVID-19 pandemic-related impacts of changes to billing and cost assumptions for certain long-term service agreements, reflecting lower engine utilization, anticipated customer fleet restructuring and contract modifications. Additional adjustments could occur in future periods and could be material for certain long-term service agreements if actual customer operating behavior differs significantly from Aviation's current estimates. December 31, 2020 Power Aviation Renewable Energy Healthcare Other Total Revenues in excess of billings $ 5,282 $ 3,072 $ — $ — $ — $ 8,354 Billings in excess of revenues (1,640) (5,375) — — — (7,015) Long-term service agreements $ 3,642 $ (2,304) $ — $ — $ — $ 1,338 Short-term and other service agreements 129 282 106 173 29 719 Equipment contract revenues 2,015 59 1,127 306 201 3,707 Current contract assets $ 5,786 $ (1,963) $ 1,233 $ 479 $ 229 $ 5,764 Nonrecurring engineering costs(a) 16 2,409 34 31 — 2,490 Customer advances and other(b) 822 2,481 — 128 (32) 3,398 Non-current contract and other deferred assets $ 838 $ 4,889 $ 34 $ 159 $ (32) $ 5,888 Total contract and other deferred assets $ 6,623 $ 2,927 $ 1,268 $ 638 $ 197 $ 11,653 December 31, 2019 Power Aviation Renewable Energy Healthcare Other Total Revenues in excess of billings $ 5,342 $ 4,480 $ — $ — $ — $ 9,822 Billings in excess of revenues (1,561) (4,914) — — — (6,476) Long-term service agreements $ 3,781 $ (435) $ — $ — $ — $ 3,346 Short-term and other service agreements 190 316 43 169 — 717 Equipment contract revenues 1,599 82 1,217 324 106 3,327 Current contract assets $ 5,569 $ (37) $ 1,260 $ 492 $ 106 $ 7,390 Nonrecurring engineering costs(a) $ 44 $ 2,257 $ 47 $ 35 $ 8 $ 2,391 Customer advances and other(b) 909 2,313 — 156 (32) 3,346 Non-current contract and other deferred assets $ 953 $ 4,570 $ 47 $ 190 $ (24) $ 5,737 Total contract and other deferred assets $ 6,522 $ 4,533 $ 1,307 $ 683 $ 82 $ 13,127 (a) Included costs incurred prior to production (such as requisition engineering) for equipment production contracts, primarily within our Aviation segment, which are allocated ratably to each unit produced. (b) Included amounts due from customers at Aviation for the sales of engines, spare parts and services, and at Power, for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under long-term service agreements. We have reclassified certain prior-year amounts from the long-term service agreements and equipment contract revenues line items in the table above to conform with the current year’s presentation. PROGRESS COLLECTIONS & DEFERRED INCOME . Progress collections represent cash received from customers under ordinary commercial payment terms in advance of delivery. Progress collections on equipment contracts primarily comprise milestone payments received from customers prior to the manufacture and delivery of customized equipment orders. Other progress collections primarily comprise down payments from customers to reserve production slots for standardized inventory orders such as advance payments from customers when they place orders for wind turbines and blades within our Renewable Energy segment and payments from airframers and airlines for install and spare engines, respectively, within our Aviation segment. Progress collections and deferred income increased $72 million in 2020 primarily due to the timing of new collections received in excess of revenue recognition, primarily at Renewable Energy, Healthcare and Aviation. These increases were partially offset by revenue recognized in excess of new collections at Power. Our Aviation Military equipment business received new collections of $708 million in the second quarter 2020 as part of the U.S. Department of Defense's efforts to support vendors in its supply chain during the pandemic. Revenues recognized for contracts included in a liability position at the beginning of the year were $12,314 million and $11,020 million for the years ended December 31, 2020 and 2019, respectively. December 31, 2020 Power Aviation Renewable Energy Healthcare Other Total Progress collections on equipment contracts $ 4,918 $ 214 $ 1,229 $ — $ — $ 6,362 Other progress collections 458 4,623 4,604 414 (4) 10,096 Total progress collections $ 5,376 $ 4,837 $ 5,834 $ 414 $ (4) $ 16,458 Current deferred income 17 132 194 1,309 105 1,757 Progress collections and deferred income $ 5,393 $ 4,969 $ 6,028 $ 1,724 $ 102 $ 18,215 Non-current deferred income 116 898 214 564 10 1,801 Total progress collections and deferred income $ 5,509 $ 5,867 $ 6,241 $ 2,288 $ 112 $ 20,016 December 31, 2019 Progress collections on equipment contracts $ 5,857 $ 115 $ 1,268 $ — $ — $ 7,240 Other progress collections 413 4,748 4,193 305 2 9,662 Total progress collections $ 6,270 $ 4,863 $ 5,461 $ 305 $ 2 $ 16,902 Current deferred income 18 90 140 1,180 59 1,487 Progress collections and deferred income $ 6,288 $ 4,953 $ 5,602 $ 1,485 $ 61 $ 18,389 Non-current deferred income 31 874 144 467 39 1,555 Total progress collections and deferred income $ 6,319 $ 5,827 $ 5,745 $ 1,952 $ 100 $ 19,944

ALL OTHER ASSETS

ALL OTHER ASSETS	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
ALL OTHER ASSETS	NOTE 10. ALL OTHER ASSETS December 31 2020 2019 Prepaid taxes and deferred charges $ 368 $ 610 Derivative instruments (Note 21) 440 211 Other 27 31 GE Industrial All other current assets $ 835 $ 852 Assets held for sale $ 871 $ 2,294 Derivative instruments (Note 21) 42 529 Other 108 113 GE Capital All other current assets $ 1,021 $ 2,936 Eliminations (334) (426) Consolidated All other current assets $ 1,522 $ 3,362 Equity method and other investments $ 3,827 $ 4,015 Long-term receivables (Note 4) 2,430 2,413 Prepaid taxes and deferred charges 817 870 Other 874 449 GE Industrial All other non-current assets $ 7,948 $ 7,748 Equity method and other investments $ 3,199 $ 2,227 GECAS pre-delivery payments (Note 23) 2,871 2,934 Insurance cash and cash equivalents(a) 455 583 Other 543 551 GE Capital All other non-current assets $ 7,068 $ 6,294 Eliminations (419) (160) Consolidated All other non-current assets $ 14,597 $ 13,882 Total All other assets $ 16,119 $ 17,244 (a) Cash and cash equivalents in GE Capital insurance entities is subject to regulatory restrictions and used for operations of those entities. Therefore, the balance is included in All other assets. Equity method investments . Unconsolidated entities over which we have significant influence are accounted for as equity method investments and presented on a one-line basis in All other assets on our consolidated Statement of Financial Position. Equity method income includes our share of the results of unconsolidated entities, gains (loss) from sales and impairments of investments, which is included in Other income for GE Industrial and in Revenues from services for GE Capital in our consolidated Statement of Earnings (Loss). See Note 1 for further information. Equity method investment balance Equity method income (loss) December 31 2020 2019 2020 2019 2018 Power $ 576 $ 565 $ 43 $ (4) $ (20) Renewable Energy 724 630 13 (2) (1) Aviation 2,032 2,073 (41) 204 126 Healthcare 251 245 7 19 16 Capital(a) 3,110 2,159 77 217 (254) Corporate items and eliminations 31 28 5 (11) (99) Total consolidated $ 6,724 $ 5,700 $ 104 $ 423 $ (233) (a) Equity method investments in GE Capital increased $951 million driven primarily by an increase in renewable energy tax equity investments at Energy Financial Services (EFS) and an increase in investments in our run-off insurance operations.

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
BORROWINGS	NOTE 11. BORROWINGS December 31 2020 2019 Amount Average Rate Amount Average Rate Commercial paper $ — — % $ 3,008 1.62 % Current portion of long-term borrowings 36 5.03 766 0.36 Current portion of long-term borrowings assumed by GE Industrial 2,432 3.49 5,473 3.71 Other 882 1,832 Total GE Industrial short-term borrowings $ 3,350 $ 11,079 Current portion of long-term borrowings $ 853 1.72 % $ 11,226 3.01 % Intercompany payable to GE Industrial 2,432 2,104 Non-recourse borrowings of consolidated securitization entities 892 0.81 1,569 1.26 Other 283 804 Total GE Capital short-term borrowings $ 4,461 $ 15,702 Eliminations (3,033) (3,140) Total short-term borrowings $ 4,778 $ 23,641 Maturities Amount Average Rate Amount Average Rate Senior notes 2022-2050 $ 18,994 2.90 % $ 14,762 2.11 % Senior notes assumed by GE Industrial 2022-2055 18,178 3.25 23,024 4.17 Subordinated notes assumed by GE Industrial 2035-2037 1,779 3.28 2,871 3.68 Other 435 324 Total GE Industrial long-term borrowings $ 39,386 $ 40,980 Senior notes 2022-2042 $ 30,132 3.41 % $ 25,371 3.66 % Subordinated notes 189 178 Intercompany payable to GE Industrial 16,780 17,038 Non-recourse borrowings of consolidated securitization entities — 86 2.82 Other 582 626 Total GE Capital long-term borrowings $ 47,683 $ 43,299 Eliminations (16,780) (17,038) Total long-term borrowings $ 70,288 $ 67,241 Total borrowings $ 75,067 $ 90,882 At December 31, 2020, the outstanding GE Capital borrowings that had been assumed by GE Industrial as part of the GE Capital Exit Plan was $22,390 million ($2,432 million short term and $19,957 million long term), for which GE Industrial has an offsetting receivable from GE Capital of $19,213 million. The difference of $3,177 million (zero in short-term borrowings and $3,177 million in long-term borrowings) represents the amount of borrowings GE Capital had funded with available cash to GE Industrial via intercompany loans in lieu of GE Industrial issuing borrowings externally. GE Industrial repaid a total of $9,049 million of intercompany loans from GE Capital in 2020. At December 31, 2020, total GE Industrial borrowings of $23,523 million comprised GE Industrial-issued borrowings of $20,346 million and intercompany loans from GE Capital to GE Industrial of $3,177 million as described above. GE Industrial has provided a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities issued or guaranteed by GE Capital. This Guarantee applied to $28,503 million and $34,683 million of GE Capital debt at December 31, 2020 and December 31, 2019, respectively. In the second quarter of 2020, GE Industrial issued a total of $7,500 million in aggregate principal amount of senior unsecured debt, comprising $1,000 million of 3.450% Notes due 2027, $1,250 million of 3.625% Notes due 2030, $1,500 million of 4.250% Notes due 2040, and $3,750 million of 4.350% Notes due 2050, and used these proceeds in addition to a portion of the proceeds from the BioPharma sale to repay a total of $7,500 million of intercompany loans to GE Capital and to complete a tender offer to purchase $4,237 million in aggregate principal amount of certain GE Industrial unsecured debt, comprising $2,046 million of 2.700% Notes due 2022, €934 million ($1,011 million equivalent) of 0.375% Notes due 2022, €425 million ($460 million equivalent) of 1.250% Notes due 2023, €376 million ($407 million equivalent) of floating-rate Notes due 2020, and $312 million of 3.375% Notes due 2024. The total cash consideration paid for these purchases was $4,282 million and the total carrying amount of the purchased notes was $4,228 million, resulting in a loss of $63 million (including $9 million of fees and other costs associated with the tender) which was recorded in Interest and other financial charges in the GE Industrial Statement of Earnings (Loss). In addition to the purchase price, GE Industrial paid any accrued and unpaid interest on the purchased notes through the date of purchase. In the second quarter of 2020, GE Capital issued a total of $6,000 million in aggregate principal amount of senior unsecured debt with maturities ranging from 2025 to 2032, and used these proceeds in addition to the proceeds received from repayments of intercompany loans from GE Industrial to complete tender offers to purchase a total of $9,787 million in aggregate principal amount of certain senior unsecured debt. The total cash consideration paid for these purchases was $9,950 million and the total carrying amount of the purchased notes was $9,827 million, resulting in a total loss of $143 million (including $20 million of fees and other costs associated with the tender) which was recorded in Interest and other financial charges in the GE Capital Statement of Earnings (Loss). In addition to the purchase price, GE Capital paid any accrued and unpaid interest on the purchased notes through the date of purchase. In the fourth quarter of 2020, GE Capital completed a tender offer to purchase a total of $2,157 million in aggregate principal amount of certain senior unsecured debt. The total cash consideration paid for these purchases was $2,255 million and the carrying amount of the purchased notes was $2,166 million, resulting in a total loss of $95 million (including $6 million of fees and other costs associated with the tender) which was recorded in Interest and other financial charges in the GE Capital Statement of Earnings (Loss). In addition to the purchase price, GE Capital paid any accrued and unpaid interest on the purchased notes through the date of purchase. See Notes 4 and 22 for further information about non-recourse borrowings of consolidated securitization entities. See Note 21 for further information about borrowings and associated interest rate swaps. Long-term debt maturities over the next five years follow. 2021 2022 2023 2024 2025 GE Industrial excluding assumed debt $ 36 $ 2,016 $ 977 $ 477 $ 2,440 GE Capital debt assumed by GE Industrial 2,432 1,483 1,977 918 237 GE Capital other debt 853 (a) 1,469 1,771 142 3,477 (a) Fixed and floating rate notes of $340 million contain put options with exercise dates in 2021, which have final maturity beyond 2025.

INSURANCE LIABILITIES AND ANNUI

INSURANCE LIABILITIES AND ANNUITY BENEFITS	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
INSURANCE LIABILITIES AND ANNUITY BENEFITS	NOTE 12. INSURANCE LIABILITIES AND ANNUITY BENEFITS. Insurance liabilities and annuity benefits comprise substantially all obligations to annuitants and insureds in our run-off insurance operations. December 31, 2020 Long-term care insurance contracts Structured settlement annuities & life insurance contracts Other Other adjustments(a) Total Future policy benefit reserves $ 16,934 $ 9,207 $ 181 $ 8,160 $ 34,482 Claim reserves(b) 4,393 275 1,068 — 5,736 Investment contracts — 1,034 1,016 — 2,049 Unearned premiums and other 19 189 89 — 298 21,346 10,705 2,354 8,160 42,565 Eliminations — — (374) — (374) Total $ 21,346 $ 10,705 $ 1,980 $ 8,160 $ 42,191 December 31, 2019 Future policy benefit reserves $ 16,755 $ 9,511 $ 183 $ 5,655 $ 32,104 Claim reserves(b) 4,238 252 1,125 — 5,615 Investment contracts — 1,136 1,055 — 2,191 Unearned premiums and other 30 196 96 — 322 21,023 11,095 2,459 5,655 40,232 Eliminations — — (406) — (406) Total $ 21,023 $ 11,095 $ 2,053 $ 5,655 $ 39,826 (a) To the extent that unrealized gains on specific investment securities supporting our insurance contracts would result in a premium deficiency should those gains be realized, an increase in future policy benefit reserves is recorded, with an after-tax reduction of net unrealized gains recognized through Other comprehensive income in our consolidated Statement of Earnings (Loss). (b) Other contracts included claim reserves of $316 million and $342 million related to short-duration contracts at Electric Insurance Company, net of eliminations, at December 31, 2020 and 2019, respectively. The increase in insurance liabilities and annuity benefits of $2,365 million from December 31, 2019 to December 31, 2020 is primarily due to an adjustment of $2,505 million resulting from an increase in unrealized gains on investment securities that would result in a premium deficiency should those gains be realized. Claim reserve activity included incurred claims of $1,801 million, $1,873 million and $2,106 million, of which $(1) million, $(36) million and $(46) million related to the recognition of adjustments to prior year claim reserves arising from our periodic reserve evaluation in the years ended December 31, 2020, 2019 and 2018, respectively. Paid claims were $1,728 million, $1,626 million and $1,937 million in the years ended December 31, 2020, 2019 and 2018, respectively. Reinsurance recoveries are recorded as a reduction of insurance losses and annuity benefits in our consolidated Statement of Earnings (Loss) and amounted to $350 million, $362 million and $324 million for the years ended December 31, 2020, 2019 and 2018, respectively. Reinsurance recoverables, net of allowances of $1,510 million and $1,355 million, are included in non-current Other GE Capital receivables in our consolidated Statement of Financial Position, and amounted to $2,552 million and $2,416 million at December 31, 2020 and 2019, respectively. The vast majority of our remaining net reinsurance recoverables are secured by assets held in a trust for which we are the beneficiary. 2020 Premium Deficiency Testing. We completed our annual premium deficiency testing in the aggregate across our run-off insurance portfolio in the third quarter of 2020. The results of our testing indicated there was a positive margin of less than 2% of the recorded future policy benefit reserves, excluding Other adjustments, at September 30, 2020. As a result, the assumptions updated in connection with the premium deficiency recognized in 2019 remain locked-in and will remain so unless another premium deficiency occurs in the future. We also noted our projections as of third quarter 2020 indicate the present value of projected earnings in each future year to be positive, and therefore, no further adjustments to our future policy benefit reserves were required at this time. Considering the results of the 2020 premium deficiency test which resulted in a small margin, any future net adverse changes in our assumptions may reduce the margin or result in a premium deficiency requiring an increase to future policy benefit reserves. Any future net favorable changes to these assumptions could result in a lower projected present value of future cash flows and additional margin in our premium deficiency test and higher income over the remaining duration of the portfolio, including higher investment income. Statutory accounting practices, not GAAP, determine the required statutory capital levels of our insurance legal entities and, therefore, may affect the amount or timing of capital contributions that may be required from GE Capital to its insurance legal entities. Statutory accounting practices are set forth by the National Association of Insurance Commissioners (NAIC) as well as state laws, regulation and general administrative rules and differ in certain respects from GAAP. The 2020 premium deficiency testing described above was performed on a GAAP basis. The adverse impact on our statutory additional actuarial reserves (AAR) arising from our revised assumptions in 2017, including the collectability of reinsurance recoverables, is expected to require GE Capital to contribute approximately $14,500 million additional capital to its run-off insurance operations in 2018-2024. For statutory accounting purposes, the Kansas Insurance Department (KID) approved our request for a permitted accounting practice to recognize the 2017 AAR increase over a seven-year period. GE Capital provided capital contributions to its insurance subsidiaries of $2,000 million, $1,900 million and $3,500 million in the first quarters of 2020, 2019 and 2018, respectively. GE Capital expects to provide further capital contributions of approximately $7,000 million through 2024 (of which approximately $2,000 million is expected to be contributed in the first quarter of 2021 pending completion of our December 31, 2020 statutory reporting process, which includes asset adequacy testing), subject to ongoing monitoring by KID. GE is a party to capital maintenance agreements with its run-off insurance subsidiaries under which GE is required to maintain their statutory capital levels at 300% of their year-end Authorized Control Level risk-based capital requirements as defined from time to time by the NAIC.

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
POSTRETIREMENT BENEFIT PLANS	NOTE 13. POSTRETIREMENT BENEFIT PLANS PENSION BENEFITS AND RETIREE HEALTH AND LIFE BENEFITS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Smaller pension plans with pension assets or obligations less than $50 million and other retiree benefit plans are not presented. We use a December 31 measurement date for these plans. DESCRIPTION OF OUR PLANS Plan Category Participants Funding Other Principal Pension Plans GE Pension Plan Covers U.S. participants. ~176,500 retirees and beneficiaries, ~93,000 vested former employees and ~26,500 active employees. Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws. We may decide to contribute additional amounts beyond this level. This plan has been closed to new participants since 2012. Benefits for ~20,000 employees with salaried benefits were frozen effective January 1, 2021, and thereafter these employees will receive increased company contributions in the company sponsored defined contribution plan in lieu of participation in a defined benefit plan (announced 10/2019). GE Supplementary Pension Plan Provides supplementary benefits to higher-level, longer-service U.S. employees This plan is unfunded. We pay benefits from company cash. The annuity benefit has been closed to new participants since 2011 and has been replaced by an installment benefit. Benefits for ~700 employees who became executives before 2011 were frozen effective January 1, 2021, and thereafter these employees will accrue the installment benefit offered to new executives since 2011. Other Pension Plans 44 U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million Covers ~56,500 retirees and beneficiaries, ~49,500 vested former employees and ~20,000 active employees Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws in each country. We pay benefits for some plans from company cash. In certain countries, benefit accruals have ceased and/or have been closed to new hires as of various dates. Principal Retiree Benefit Plans Provides health and life insurance benefits to certain eligible participants Covers U.S participants. ~170,000 retirees and dependents We fund retiree health benefits on a pay-as-you-go basis and the retiree life insurance trust at our discretion. Participants share in the cost of the healthcare benefits. FUNDING STATUS BY PLAN TYPE Benefit Obligation Fair Value of Assets Deficit/(Surplus) 2020 2019 2020 2019 2020 2019 Principal Pension Plans: GE Pension Plan (subject to regulatory funding) $ 68,945 $ 65,065 $ 58,843 $ 52,633 $ 10,102 $ 12,432 GE Supplementary Pension Plan (not subject to regulatory funding) 7,353 6,691 — — 7,353 6,691 76,298 71,756 58,843 52,633 17,455 19,123 Other Pension Plans: Subject to regulatory funding 21,793 19,907 21,283 18,906 510 1,001 Not subject to regulatory funding 2,865 3,014 223 236 2,642 2,778 Principal retiree benefit plans (not subject to regulatory funding) 5,019 5,160 134 289 4,885 4,871 Total plans subject to regulatory funding 90,738 84,972 80,126 71,539 10,612 13,433 Total plans not subject to regulatory funding 15,237 14,865 357 525 14,880 14,340 Total plans $ 105,975 $ 99,837 $ 80,483 $ 72,064 $ 25,492 $ 27,773 FUNDING. The Employee Retirement Income Security Act (ERISA) determines minimum pension funding requirements in the U.S. In December 2020, we made a discretionary contribution of $2,500 million to the GE Pension Plan and, based on our current assumptions, we do not anticipate additional required contributions to the plan through 2023. We made a contribution to the GE Pension Plan in 2018 which was sufficient to satisfy our minimum ERISA funding requirements for 2019 and 2020. On an ERISA basis, our preliminary estimate is that the GE Pension Plan was approximately 94% and 93% funded at January 1, 2021 and 2020 respectively. The ERISA funded status is higher than the GAAP funded status (85% and 81% funded for 2020 and 2019 respectively) primarily because the ERISA prescribed interest rate for determining liabilities is calculated using a long-term average interest rate. As a result, the ERISA interest rate is higher than the year-end GAAP discount rate. The higher ERISA interest rate lowers pension liabilities for ERISA funding purposes. We expect to pay approximately $325 million for benefit payments under our GE Supplementary Pension Plan and administrative expenses of our principal pension plans and expect to contribute approximately $460 million to other pension plans in 2021. We fund retiree health benefits on a pay-as-you-go basis and the retiree life insurance trust at our discretion. We expect to contribute approximately $335 million in 2021 to fund such benefits. ACTIONS. In December 2020, we transferred obligations of $1,706 million from the GE Pension Plan, representing the benefits of approximately 70,000 of GE’s retirees and beneficiaries, to a third-party insurance company by irrevocably committing to purchase group annuity contracts. The transaction was funded directly by the assets of the plan and is reflected as a settlement. In 2019, we offered approximately 100,000 former U.S. employees with a vested benefit in the GE Pension Plan a limited-time option to take a lump sum distribution in lieu of future monthly payments. In December 2019, lump sum distributions of $2,657 million were made from the assets of the plan and this event is reflected as a settlement. COST OF OUR BENEFITS PLANS 2020 2019 2018 AND ASSUMPTIONS Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Components of expense (income) Service cost - operating $ 657 $ 243 $ 59 $ 654 $ 246 $ 58 $ 888 $ 323 $ 63 Interest cost 2,350 422 150 2,780 542 202 2,658 548 196 Expected return on plan assets (2,993) (1,082) (11) (3,428) (1,144) (21) (3,248) (1,285) (29) Amortization of net actuarial loss (gain) 3,399 434 (82) 3,439 319 (118) 3,785 312 (79) Amortization of prior service cost (credit) 146 1 (234) 135 3 (232) 143 (9) (230) Curtailment / settlement loss (gain)(a) — 12 — 349 13 (38) 34 1 — Non-operating $ 2,902 $ (213) $ (177) $ 3,275 $ (267) $ (207) $ 3,372 $ (433) $ (142) Net periodic expense (income) $ 3,559 $ 30 $ (118) $ 3,929 $ (21) $ (149) $ 4,260 $ (110) $ (79) Weighted-average assumptions used to determine benefit obligations Discount rate 2.61 % 1.44 % 2.15 % 3.36 % 1.97 % 3.05 % 4.34 % 2.75 % 4.12 % Compensation increases 2.95 3.06 2.82 2.95 3.16 3.75 3.60 3.16 3.60 Initial healthcare trend rate(b) N/A N/A 5.90 N/A N/A 5.90 N/A N/A 6.00 Weighted-average assumptions used to determine benefit cost Discount rate(c) 3.36 1.97 3.05 4.07 2.75 4.12 3.64 2.41 3.43 Expected rate of return on plan assets 6.25 5.69 7.00 6.75 6.76 7.00 6.75 6.75 7.00 (a) For 2019, the principal pension amount is a curtailment loss driven by freezing the GE Pension Plan benefits for certain participants. (b) For 2020, ultimately declining to 5% for 2030 and thereafter. (c) Weighted average 2019 discount rate for principal pension was 4.07%. Discount rate was 4.34% for January 1, 2019 through September 30, 2019 and then changed to 3.24% for the remainder of 2019 due to the remeasurement of the plans for the U.S. pension changes announced in October 2019. We expect 2021 net periodic benefit costs for principal pension, other pension and principal retiree benefit plans to be about $2,400 million, which is a decrease of approximately $1,100 million from 2020. The decrease is primarily due to the freezing of benefits for certain participants under the GE Pension Plan and lower interest costs driven by the lower discount rate. The 2020 year-end discount rate increases the amortization of net actuarial loss, but this increase is offset by less amortization of net actuarial loss related to past years. The components of net periodic benefit costs, other than the service cost component, are included in Non-operating benefit costs in our consolidated Statement of Earnings (Loss). PLAN FUNDED STATUS AND AMOUNTS RECORDED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 2020 2019 Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Change in benefit obligations Balance at January 1 $ 71,756 $ 22,921 $ 5,160 $ 68,500 $ 21,091 $ 5,153 Service cost 657 243 59 654 246 58 Interest cost 2,350 422 150 2,780 542 202 Participant contributions 69 28 63 77 29 61 Plan amendments — 27 (7) (42) (c) (17) (23) Actuarial loss (gain) - net 7,057 (a) 1,927 (a) 85 (a) 7,073 (d) 2,422 (a) 275 (a) Benefits paid (3,885) (1,062) (491) (3,788) (1,043) (533) Curtailments — (69) — (838) (32) (33) Settlements (1,706) (b) — — (2,657) (e) — — Dispositions/ acquisitions / other - net — (335) — (3) (1,030) — Exchange rate adjustments — 556 — — 713 — Balance at December 31 $ 76,298 (f) $ 24,658 $ 5,019 (g) $ 71,756 (f) $ 22,921 $ 5,160 (g) Change in plan assets Balance at January 1 52,633 19,142 289 50,009 17,537 362 Actual gain (loss) on plan assets 8,926 2,542 (22) 8,694 2,229 57 Employer contributions 2,806 509 295 298 716 342 Participant contributions 69 28 63 77 29 61 Benefits paid (3,885) (1,062) (491) (3,788) (1,043) (533) Settlements (1,706) (b) — — (2,657) (e) — — Dispositions/ acquisitions / other - net — (59) — — (1,030) — Exchange rate adjustments — 406 — — 704 — Balance at December 31 $ 58,843 $ 21,506 $ 134 $ 52,633 $ 19,142 $ 289 Funded status - deficit $ 17,455 $ 3,152 $ 4,885 $ 19,123 $ 3,779 $ 4,871 Amounts recorded in the consolidated Statement of Financial Position Non-current assets - other — 845 — — 475 — Current liabilities - other (315) (106) (330) (296) (123) (355) Non-current liabilities - compensation and benefits (17,140) (3,891) (4,555) (18,827) (4,131) (4,516) Net amount recorded $ (17,455) $ (3,152) $ (4,885) $ (19,123) $ (3,779) $ (4,871) Amounts recorded in Accumulated other comprehensive income (loss) Prior service cost (credit) (80) 19 (2,148) 67 (16) (2,376) Actuarial loss (gain) 5,687 4,582 (633) 7,961 4,665 (833) Total recorded in Accumulated other comprehensive income (loss) $ 5,607 $ 4,601 $ (2,781) $ 8,028 $ 4,649 $ (3,209) (a) Principally associated with discount rate changes. (b) Irrevocable commitment to purchase group annuity contracts from a third-party insurance company in December 2020. (c) GE Supplementary Pension Plan amendment for the U.S. pension changes announced in October 2019 offset by other plan amendments adopted in 2019. (d) Principally associated with discount rate changes offset by impact of the one-time lump sum payments under the GE Pension Plan. (e) Payments made to former employees from the GE Pension Plan assets for the one-time lump sum payments. (f) The benefit obligation for the GE Supplementary Pension Plan, which is an unfunded plan, was $7,353 million and $6,691 million at year-end 2020 and 2019, respectively. (g) The benefit obligation for retiree health plans was $3,094 million and $3,306 million at December 31, 2020 and 2019, respectively. ASSUMPTIONS USED IN CALCULATIONS. Our defined benefit pension plans are accounted for on an actuarial basis, which requires the selection of various assumptions, including a discount rate, an expected return on assets, mortality rates of participants and expectation of mortality improvement. Projected benefit obligations are measured as the present value of expected benefit payments. We discount those cash payments using a discount rate. We determine the discount rate using the weighted-average yields on high-quality fixed-income securities with maturities that correspond to the payment of benefits. Lower discount rates increase present values and generally increase subsequent-year pension expense; higher discount rates decrease present values and generally reduce subsequent-year pension expense. The compensation assumption is used to estimate the annual rate at which pay of plan participants will grow. If the rate of growth assumed increases, the size of the pension obligations will increase, as will the amount recorded in Accumulated other comprehensive income (loss) (AOCI) in our consolidated Statement of Financial Position and amortized into earnings in subsequent periods. The expected return on plan assets is the estimated long-term rate of return that will be earned on the investments used to fund the benefit obligations. To determine the expected long-term rate of return on pension plan assets, we consider our asset allocation, as well as historical and expected returns on various categories of plan assets. In developing future long-term return expectations for our principal benefit plans’ assets, we formulate views on the future economic environment, both in the U.S. and abroad. We evaluate general market trends and historical relationships among a number of key variables that impact asset class returns such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. We also take into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given our asset allocation. Based on our analysis, we have assumed a 6.25% long-term expected return on our GE Pension Plan assets for cost recognition in 2020, as compared to 6.75% in 2019 and 2018. The Society of Actuaries issued new mortality improvement tables in 2020 and new mortality base and improvement tables in 2019. We updated mortality assumptions in the U.S. accordingly. These changes in assumptions decreased the December 31, 2020 and 2019 U.S. pension and retiree benefit plans' obligations by $180 million and $529 million, respectively. The healthcare trend assumptions apply to our pre-65 retiree medical plans. Our post-65 retiree plan has a fixed subsidy and therefore is not subject to healthcare inflation. We evaluate these critical assumptions at least annually on a plan and country-specific basis. We periodically evaluate other assumptions involving demographics factors such as retirement age and turnover, and update them to reflect our actual experience and expectations for the future. Actual results in any given year will often differ from actuarial assumptions because of economic and other factors. Differences between our actual results and what we assumed are recorded in Accumulated other comprehensive income each period. These differences are amortized into earnings over the remaining average future service of active participating employees or the expected life of inactive participants, as applicable. SENSITIVITIES TO KEY ASSUMPTIONS. Fluctuations in discount rates can significantly impact pension cost and obligations. A 25 basis point decrease in discount rate would increase principal pension plan cost in the following year by about $220 million and would increase the principal pension projected benefit obligation at year-end by about $2,400 million. The deficit sensitivity to the discount rate is lower than the projected benefit obligation sensitivity as a result of the liability hedging program incorporated in the plan's asset allocation. A 50 basis point decrease in the expected return on assets would increase principal pension plan cost in the following year by about $250 million. THE COMPOSITION OF OUR PLAN ASSETS. The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. 2020 2019 Principal pension Other pension Principal pension Other pension Global equities $ 5,552 $ 3,674 $ 6,826 $ 3,484 Debt securities Fixed income and cash investment funds 6,831 10,003 4,398 8,089 U.S. corporate(a) 8,512 410 8,025 365 Other debt securities(b) 5,505 440 6,076 424 Real estate 2,274 81 2,309 140 Private equities and other investments 490 499 23 452 Total 29,164 15,107 27,657 12,954 Plan assets measured at net asset value Global equities 16,259 1,415 14,616 1,450 Debt securities 5,445 1,268 3,744 914 Real estate 1,324 1,978 1,167 1,930 Private equities and other investments 6,651 1,738 5,449 1,894 Total plan assets at fair value $ 58,843 $ 21,506 $ 52,633 $ 19,142 (a) Primarily represented investment-grade bonds of U.S. issuers from diverse industries. (b) Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and U.S. government, federal agency, state and municipal debt. GE Pension Plan investments with a fair value of $2,721 million and $2,838 million at December 31, 2020 and 2019, respectively, were classified within Level 3 and primarily relate to real estate. The remaining investments were substantially all considered Level 1 and 2. Other pension plans investments with a fair value of $97 million and $105 million at December 31, 2020 and 2019, respectively, were classified within Level 3. Principal retiree benefit plan investments with a fair value of $134 million and $289 million at December 31, 2020 and 2019, respectively, comprised equity and debt securities which are considered Level 1 and 2. There were no Level 3 principal retiree benefit plan investments held in 2020 and 2019. Plan assets that were measured at fair value using NAV as practical expedient were excluded from the fair value hierarchy. ASSET ALLOCATION OF PENSION PLANS 2020 Target allocation 2020 Actual allocation Principal Pension Other Pension (weighted average) Principal Pension Other Pension (weighted average) Global equities 30.0 - 47.0 % 22 % 37 % 25 % Debt securities (including cash equivalents) 21.0 - 65.0 52 45 56 Real estate 3.5 - 13.5 9 6 10 Private equities & other investments 6.0 - 16.0 17 12 9 Plan fiduciaries of the GE Pension Plan set investment policies and strategies for the GE Pension Trust and oversee its investment allocation, which includes selecting investment managers and setting long-term strategic targets. The plan fiduciaries' primary strategic investment objectives are balancing investment risk and return and monitoring the plan’s liquidity position in order to meet the plan's near-term benefit payment and other cash needs. The plan has incorporated de-risking objectives and liability hedging programs as part of its long-term investment strategy. The plan utilizes a combination of long dated corporate bonds, treasuries, strips and derivatives to implement its investment strategies as well as for hedging asset and liability risks. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range. GE securities represented 0.6% of the GE Pension Trust assets at December 31, 2020 and 2019. The GE Pension Plan has a broadly diversified portfolio of investments in equities, fixed income, private equities and real estate; these investments are both U.S. and non-U.S. in nature. As of December 31, 2020, no sector concentration of assets exceeded 15% of total GE Pension Plan assets. ANNUALIZED RETURNS 1 year 5 years 10 years 25 years GE Pension Plan 17.6 % 9.7 % 8.0 % 8.0 % EXPECTED FUTURE BENEFIT PAYMENTS OF OUR BENEFIT PLANS Principal pension Other pension Principal retiree benefit 2021 $ 3,725 $ 945 $ 460 2022 3,785 945 440 2023 3,820 955 420 2024 3,845 970 395 2025 3,865 995 380 2026 - 2030 19,410 5,185 1,615 DEFINED CONTRIBUTION PLAN. We have a defined contribution plan for eligible U.S. employees that provides employer contributions. Defined contribution costs were $318 million, $355 million and $410 million for the years ended December 31, 2020, 2019, and 2018, respectively. COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOME For the years ended December 31 2020 2019 2018 (Pre-tax) Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Cost (income) of postretirement benefit plans $ 3,559 $ 30 $ (118) $ 3,929 $ (21) $ (149) $ 4,260 $ (110) $ (79) Changes in other comprehensive income Prior service cost (credit) - current year — 27 (7) (42) (17) (23) — 82 — Actuarial loss (gain) - current year 1,124 529 119 971 1,592 240 (111) 464 (543) Reclassifications out of AOCI Curtailment / settlement gain (loss) — (3) — (353) (12) 4 (45) (2) — Dispositions — (166) — — (340) — — — — Amortization of net actuarial gain (loss) (3,399) (434) 82 (3,439) (319) 118 (3,785) (312) 79 Amortization of prior service credit (cost) (146) (1) 234 (135) (3) 232 (143) 9 230 Total changes in other comprehensive income (2,421) (48) 428 (2,998) 901 571 (4,084) 241 (234) Cost of postretirement benefit plans and changes in other comprehensive income $ 1,138 $ (18) $ 310 $ 931 $ 880 $ 422 $ 176 $ 131 $ (313)

CURRENT AND ALL OTHER LIABILITI

CURRENT AND ALL OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2020
Other Liabilities [Abstract]
CURRENT AND ALL OTHER LIABILITIES	NOTE 14. CURRENT AND ALL OTHER LIABILITIES December 31 2020 2019 Sales allowances, equipment projects and other commercial liabilities $ 5,123 $ 4,277 Product warranties (Note 23) 1,197 1,371 Employee compensation and benefit liabilities 4,763 5,114 Taxes payable 413 429 Environmental, health and safety liabilities (Note 23) 359 330 Due to GE Capital 984 1,080 Derivative instruments (Note 21) 250 171 Other 1,044 2,479 GE Industrial All other current liabilities 14,131 15,251 Aircraft maintenance reserve, sales deposits and other commercial liabilities 1,465 2,336 Interest payable 1,064 1,189 Derivative instruments (Note 21) 117 31 Other 1,244 495 GE Capital All other current liabilities 3,890 4,052 Eliminations (1,422) (1,483) Consolidated All other current liabilities $ 16,600 $ 17,821 Sales allowances, equipment projects and other commercial liabilities 3,917 3,923 Product warranties (Note 23) 857 793 Operating lease liabilities (Note 7) 3,133 3,369 Uncertain and other income taxes and related liabilities 3,652 3,410 Alstom legacy legal matters (Note 23) 858 875 Environmental, health and safety liabilities (Note 23) 2,210 2,154 Redeemable noncontrolling interests (Note 16) 487 439 Other 1,326 1,342 GE Industrial All other non-current liabilities 16,440 16,306 Other commercial liabilities 455 573 Operating lease liabilities (Note 7) 221 238 Uncertain and other income taxes and related liabilities 475 415 GE Capital All other non-current liabilities 1,151 1,226 Eliminations (1,514) (1,593) Consolidated All other non-current liabilities $ 16,077 $ 15,938 Total $ 32,677 $ 33,759

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15. INCOME TAXES. GE Industrial and GE Capital file a consolidated U.S. federal income tax return. This enables GE Industrial and GE Capital to use tax deductions and credits of one member of the group to reduce the tax that otherwise would have been payable by another member of the group. The effective tax rate reflects the benefit of these tax reductions in the consolidated return. GE Industrial makes cash payments to GE Capital for tax reductions and GE Capital pays for tax increases at the time GE Industrial’s tax payments are due. Our businesses are subject to regulation under a wide variety of U.S. federal, state and foreign tax laws, regulations and policies. Changes to these laws or regulations may affect our tax liability, return on investments and business operations. (BENEFIT) PROVISION FOR INCOME TAXES 2020 2019 2018 Current tax expense (benefit) $ 2,123 $ 2,551 $ 1,743 Deferred tax expense (benefit) from temporary differences (1,735) (1,242) (1,276) Total GE Industrial 388 1,309 467 Current tax expense (benefit) 329 (720) 596 Deferred tax expense (benefit) from temporary differences (1,191) 138 (970) Total GE Capital (862) (582) (374) Current tax expense (benefit) 2,452 1,831 2,339 Deferred tax expense (benefit) from temporary differences (2,926) (1,104) (2,245) Total consolidated $ (474) $ 726 $ 93 CONSOLIDATED EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 2020 2019 2018 U.S. earnings (loss) $ (5,325) $ 506 $ (9,861) Non-U.S. earnings (loss) 10,522 643 (11,126) Total $ 5,197 $ 1,149 $ (20,987) CONSOLIDATED (BENEFIT) PROVISION FOR INCOME TAXES 2020 2019 2018 U.S. Federal Current $ 939 $ 146 $ 1,019 Deferred (2,032) (1,266) (3,144) Non - U.S. Current 1,331 2,008 1,132 Deferred (793) 106 1,197 Other 80 (267) (111) Total $ (474) $ 726 $ 93 INCOME TAXES PAID (RECOVERED) 2020 2019 2018 GE Industrial $ 2,399 $ 2,183 $ 1,803 GE Capital (1,108) 45 65 Total(a) $ 1,291 $ 2,228 $ 1,868 (a) Includes tax payments reported in discontinued operations. RECONCILIATION OF U.S. FEDERAL STATUTORY INCOME TAX RATE TO ACTUAL INCOME TAX RATE Consolidated GE Industrial GE Capital 2020 2019 2018 2020 2019 2018 2020 2019 2018 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Tax on global activities including exports(a) (28.5) 91.0 (5.0) (16.3) 61.0 (5.1) 13.8 8.1 3.2 U.S. business credits(b) (3.3) (22.5) 2.6 (1.0) (6.4) 0.4 4.7 21.9 120.0 Goodwill impairments 6.9 26.0 (21.5) 2.5 16.6 (21.9) (8.3) — — Tax Cuts and Jobs Act enactment 0.9 0.2 (0.2) 0.7 5.6 0.5 0.1 15.2 (36.5) All other – net(c)(d)(e) (6.1) (52.5) 2.7 (1.6) (25.1) 2.8 9.8 23.1 (8.0) (30.1) 42.2 (21.4) (15.7) 51.7 (23.3) 20.1 68.3 78.7 Actual income tax rate (9.1) % 63.2 % (0.4) % 5.3 % 72.7 % (2.3) % 41.1 % 89.3 % 99.7 % (a) For the year ended December 31, 2020, included (27.8)%, (18.5)% and 4.6% in consolidated, GE Industrial and GE Capital, respectively, related to the sale of our Biopharma business. For the year ended December 31, 2019, included 55.1% and 35.1% in consolidated and GE Industrial, respectively related to the sale of our BioPharma business. (b) U.S. general business credits, primarily the credit for energy produced from renewable sources and the credit for research performed in the U.S. (c) For the year ended December 31, 2020, included (2.7)%, (0.9)% and 3.6% in consolidated, GE Industrial and GE Capital, respectively for the resolution of the IRS audit of our consolidated U.S. income tax returns for 2014-2015. For the year ended December 31, 2019, included (32.9)%, (19.7)% and 3.5% in consolidated, GE Industrial and GE Capital, respectively for the resolution of the IRS audit of our consolidated U.S. income tax returns for 2012-2013. (d) For the year ended December 31, 2020, included (3.9)%, (2.1)% and 2.2% in consolidated, GE Industrial and GE Capital, respectively, related to deductible stock losses. For the year ended December 31, 2019, included (12.5)% and (8.0)% in consolidated and GE Industrial, respectively, related to the disposition of the Digital ServiceMax business. For the year ended December 31, 2018, included 2.8% and 2.8% in consolidated and GE Industrial, respectively, related to deductible stock losses. (e) Included for each period, the expense or benefit for Other taxes reported above in the consolidated (benefit) provision for income taxes, net of 21.0% federal effect. U.S. TAX REFORM. On December 22, 2017, the U.S. enacted legislation commonly known as the Tax Cuts and Jobs Act (U.S. tax reform) that lowered the statutory tax rate on U.S. earnings to 21%, taxes historic foreign earnings at a reduced rate of tax, establishes a territorial tax system and enacts new taxes associated with global operations. The impact of enactment of U.S. tax reform was recorded in 2017 on a provisional basis as the legislation provided for additional guidance to be issued by the U.S. Department of the Treasury on several provisions including the computation of the transition tax. This amount was adjusted in both 2018 and 2019 based on guidance issued during each of these years. Additional guidance may be issued after 2020 and any resulting effects will be recorded in the quarter of issuance. Additionally, as part of U.S. tax reform, the U.S. has enacted a minimum tax on foreign earnings (global intangible low tax income). We have not made an accrual for the deferred tax aspects of this provision. For the year ended December 31, 2018, we finalized our provisional estimate of the enactment of U.S. tax reform and recorded an additional tax expense of $41 million. For the year ended December 31, 2019, we recorded an additional tax expense of $2 million based on the issuance in January 2019 of final regulations on the transition tax on historic foreign earnings. The cash impact of the transition tax on historic foreign earnings was largely offset by accelerated use of deductions and tax credits and was substantially incurred with the filing of the 2017 tax return with no amount subject to the deferred payment provision provided under law. For the year ended December 31, 2020, we recorded an additional tax expense of $49 million to reflect the impact of voluntary adjustments we provided the government reflecting finalization of amounts reported on the 2017 tax return. There could be further adjustment to the transition tax as a result of the current audit of the 2017 and 2018 tax years. UNRECOGNIZED TAX POSITIONS. Annually, we file over 3,600 income tax returns in almost 300 global taxing jurisdictions. We are under examination or engaged in tax litigation in many of these jurisdictions. The IRS is currently auditing our consolidated U.S. income tax returns for 2016-2018. In December 2020, the IRS completed the audit of our consolidated U.S. income tax returns for 2014-2015. The Company recognized a continuing operations benefit of $140 million plus an additional net interest benefit of $96 million. In addition, GE Capital recorded a benefit in discontinued operations of $130 million of tax benefits and $25 million of net interest benefits. In June 2019, the IRS completed the audit of our consolidated U.S. income tax returns for 2012-2013. The Company recognized a continuing operations tax benefit of $378 million plus an additional net interest benefit of $107 million. GE Capital recorded an additional non-cash benefit in discontinued operations of $332 million of tax benefits and $46 million of net interest benefits. See Note 2 for further information. The United Kingdom tax authorities disallowed interest deductions claimed by GE Capital for the years 2004-2015 that could result in a potential impact of approximately $1.1 billion, which includes a possible assessment of tax and reduction of deferred tax assets, not including interest and penalties. We are contesting the disallowance. We comply with all applicable tax laws and judicial doctrines of the United Kingdom and believe that the entire benefit is more likely than not to be sustained on its technical merits. We believe that there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties. The balance of unrecognized tax benefits, the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next 12 months were: UNRECOGNIZED TAX BENEFITS December 31 2020 2019 2018 Unrecognized tax benefits $ 4,191 $ 4,169 $ 5,563 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 2,986 2,701 4,265 Accrued interest on unrecognized tax benefits 628 722 934 Accrued penalties on unrecognized tax benefits 179 195 182 Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months 0-350 0-700 0-1,300 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 0-250 0-650 0-1,200 (a) Some portion of such reduction may be reported as discontinued operations. UNRECOGNIZED TAX BENEFITS RECONCILIATION 2020 2019 2018 Balance at January 1 $ 4,169 $ 5,563 $ 5,449 Additions for tax positions of the current year 836 403 300 Additions for tax positions of prior years 326 500 945 Reductions for tax positions of prior years(a) (863) (1,927) (905) Settlements with tax authorities (127) (155) (64) Expiration of the statute of limitations (151) (214) (162) Balance at December 31 $ 4,191 $ 4,169 $ 5,563 (a) For 2019, reductions included $710 million related to the completion of the 2012-2013 IRS audit and $442 million related to the deconsolidation of Baker Hughes. We classify interest on tax deficiencies as interest expense; we classify income tax penalties as provision for income taxes. For the years ended December 31, 2020, 2019 and 2018, $(30) million, $(93) million and $127 million of interest expense (income), respectively, and $(13) million, $20 million and $(7) million of tax expense (income) related to penalties, respectively, were recognized in our consolidated Statement of Earnings (Loss). DEFERRED INCOME TAXES. We have not provided deferred taxes on cumulative net earnings of non-U.S. affiliates and associated companies of approximately $42 billion that have been reinvested indefinitely. Given U.S. tax reform, substantially all of our prior unrepatriated net earnings were subject to U.S. tax and accordingly we expect to have the ability to repatriate available non-U.S. cash without additional federal tax cost, and any foreign withholding tax on a repatriation to the U.S. would potentially be partially offset by a U.S. foreign tax credit. However, because most of these earnings have been reinvested in active non-U.S. business operations, as of December 31, 2020, we have not decided to repatriate these earnings to the U.S. It is not practicable to determine the income tax liability that would be payable if such earnings were not reinvested indefinitely. The following table presents our net deferred tax assets and net deferred tax liabilities attributable to different tax jurisdictions or different tax paying components. DEFERRED INCOME TAXES December 31 2020 2019 GE Industrial $ 10,069 $ 8,888 GE Capital 3,610 2,500 Total assets 13,679 11,388 GE Industrial (719) (699) GE Capital (879) (800) Total liabilities (1,598) (1,499) Net deferred income tax asset (liability) $ 12,081 $ 9,889 COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY) December 31 2020 2019 Principal pension plans $ 3,666 $ 4,016 Provision for expenses 2,258 1,990 Other compensation and benefits 1,968 2,206 Principal retiree benefit plans 1,026 1,023 Capitalized expenditures 993 860 Non-U.S. loss carryforwards(a) 814 602 Intangible assets 486 1,315 Baker Hughes investment (973) (1,256) Depreciation (676) (823) Contract assets (460) (1,232) Other – net(b) 248 (512) GE Industrial 9,350 8,189 Insurance company loss reserves 1,684 1,715 Non-U.S. loss carryforwards(a) 1,194 1,274 Capitalized expenditures 799 742 Operating leases (1,900) (2,218) Financing leases (393) (477) Other – net(b) 1,347 664 GE Capital 2,731 1,700 Net deferred income tax asset (liability) $ 12,081 $ 9,889 (a) Net of valuation allowances of $5,934 million and $4,801 million for GE Industrial and $265 million and $201 million for GE Capital as of December 31, 2020 and 2019, respectively. Of the net deferred tax asset as of December 31, 2020 of $2,008 million, $19 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2021 through December 31, 2023; $112 million relates to net operating losses that expire in various years ending from December 31, 2024 through December 31, 2040 and $1,957 million relates to net operating loss carryforwards that may be carried forward indefinitely. (b) Included valuation allowances related to assets other than non-U.S. loss carryforwards of $898 million and $1,897 million for GE Industrial and $221 million and $248 million for GE Capital as of December 31, 2020 and 2019, respectively.

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 16. SHAREHOLDERS’ EQUITY ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 2020 2019 2018 Beginning balance $ 61 $ (39) $ (102) Other comprehensive income (loss) (OCI) before reclassifications – net of deferred taxes of $10, $32 and $41(a) 55 141 87 Reclassifications from OCI – net of deferred taxes of $(14), $(11) and $(6) (56) (42) (23) Other comprehensive income (loss) (1) 100 64 Less OCI attributable to noncontrolling interests — — — Investment securities ending balance $ 60 $ 61 $ (39) Beginning balance $ (4,818) $ (6,134) $ (4,661) OCI before reclassifications – net of deferred taxes of $(25), $(98) and $29 (255) 41 (2,076) Reclassifications from OCI – net of deferred taxes of $0, $(9) and $89(b)(c) 691 1,234 412 Other comprehensive income (loss) 435 1,275 (1,664) Less OCI attributable to noncontrolling interests 2 (40) (192) Currency translation adjustments ending balance $ (4,386) $ (4,818) $ (6,134) Beginning balance $ 49 $ 13 $ 62 OCI before reclassifications – net of deferred taxes of $11, $6 and $(26) (94) (21) (149) Reclassifications from OCI – net of deferred taxes of $(11), $2 and $4(b) 17 58 98 Other comprehensive income (loss) (77) 37 (51) Less OCI attributable to noncontrolling interests — 2 (2) Cash flow hedges ending balance $ (28) $ 49 $ 13 Beginning balance $ (7,024) $ (8,254) $ (9,702) OCI before reclassifications – net of deferred taxes of $(283), $(418) and $115 (1,256) (2,097) 71 Reclassifications from OCI – net of deferred taxes of $805, $915 and $2,610 (b)(c) 2,888 3,325 1,345 Other comprehensive income (loss) 1,632 1,228 1,416 Less OCI attributable to noncontrolling interests 4 (2) (32) Benefit plans ending balance $ (5,395) $ (7,024) $ (8,254) Accumulated other comprehensive income (loss) at December 31 $ (9,749) $ (11,732) $ (14,414) (a) Included adjustments of $(1,979) million, $(2,693) million and $1,825 million in 2020, 2019 and 2018, respectively, related to insurance liabilities and annuity benefits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment security gains been realized. See Note 12 for further information. (b) The total reclassification from AOCI included $836 million, including currency translation of $688 million, net of taxes, in 2020, related to the sale of our BioPharma business within our Healthcare segment. (c) Currency translation and benefit plan gains and losses included $1,343 million, including currency translation of $1,066 million, net of taxes, in 2019 earnings (loss) from discontinued operations related to deconsolidation of Baker Hughes. In 2016, we issued $5,694 million of GE Series D preferred stock, in addition to $245 million of existing GE Series A, B and C preferred stock, which are also outstanding. The total carrying value of GE Industrial preferred stock at December 31, 2020 was $5,918 million and will increase to $5,940 million by the respective call dates through periodic accretion. Dividends on GE Industrial preferred stock are payable semi-annually in June and December and accretion is recorded on a quarterly basis. Dividends on GE Industrial preferred stock totaled $474 million, including cash dividends of $295 million, $460 million, including cash dividends of $295 million, and $447 million, including cash dividends of $295 million, for the years ended December 31, 2020, 2019 and 2018, respectively. On January 21, 2021, the GE Series D preferred stock became callable and its dividends converted from 5% fixed rate to 3-month LIBOR plus 3.33%. As of the filing date of this Form 10-K for the year ended December 31, 2020, the GE Series D preferred stock has not been called. In conjunction with the 2016 exchange of GE Capital preferred stock into GE preferred stock, GE Capital issued preferred stock to GE Industrial for which the amount and terms mirrored the GE Industrial external preferred stock. In 2018, GE Capital and GE Industrial exchanged the existing Series D preferred stock issued to GE Industrial for new Series D preferred stock, which is mandatorily convertible into GE Capital common stock on January 21, 2021. In the first quarter of 2021, GE Capital and GE Industrial also agreed to retire the Series A, B and C GE Capital preferred stock effective on the Series D conversion date of January 21, 2021. As a result of these actions, effective January 21, 2021, there is no remaining preferred stock between GE Industrial and GE Capital, and accordingly GE Capital will no longer pay preferred dividends to GE Industrial and all preferred stock dividend costs have become a GE Industrial obligation effective January 21, 2021. The exchange of GE Capital Series D preferred stock has no impact on the GE Series D preferred stock, which remains callable for $5,694 million effective on January 21, 2021 or thereafter on dividend payment dates. Similarly, there were no changes to the GE Series A, B or C preferred stock, which become callable at various dates in 2022 and 2023. GE has 50 million authorized shares of preferred stock ($1.00 par value), of which 5,939,875 shares are outstanding as of December 31, 2020, 2019 and 2018. GE's authorized common stock consists of 13,200 million shares having a par value of $0.06 each, with 11,694 million shares issued. To facilitate settlement of employee compensation programs, we repurchased shares of 0.5 million and 1.1 million, for a total of $15.3 million and $9.6 million for the years ended December 31, 2020 and 2019, respectively.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 17. SHARE-BASED COMPENSATION. We grant stock options, restricted stock units and performance share units to employees under the 2007 Long-Term Incentive Plan. Grants made under all plans must be approved by the Management Development and Compensation Committee of GE’s Board of Directors, which is composed entirely of independent directors. We record compensation expense for awards expected to vest over the vesting period. We estimate forfeitures based on experience and adjust expense to reflect actual forfeitures. When options are exercised and restricted stock units vest, we issue shares from treasury stock. Stock options provide employees the opportunity to purchase GE shares in the future at the market price of our stock on the date the award is granted (the strike price). The options become exercisable over the vesting period (typically three WEIGHTED AVERAGE GRANT DATE FAIR VALUE 2020 2019 2018 Stock options $ 3.58 $ 3.48 $ 3.00 RSUs 7.91 10.12 13.96 PSUs/Performance shares 7.91 10.73 4.80 Key assumptions used in the Black-Scholes valuation for stock options include: risk free rates of 1.0%, 2.5%, and 2.8%, dividend yields of 0.4%, 0.4%, and 2.3%, expected volatility of 36%, 33%, and 32%, expected lives of 6.1 years, 6.0 years, and 5.9 years, and strike prices of $10.56, $10.00, and $12.13 for 2020, 2019, and 2018, respectively. STOCK-BASED COMPENSATION ACTIVITY Stock options RSUs Shares (in millions) Weighted average exercise price Weighted average contractual term (in years) Intrinsic value (in millions) Shares (in millions) Weighted average grant date fair value Weighted average contractual term (in years) Intrinsic value (in millions) Outstanding at January 1, 2020 458 $ 18.66 28 $ 13.29 Granted 36 10.56 46 7.91 Exercised (1) 7.48 (10) 14.44 Forfeited (15) 11.12 (4) 11.80 Expired (78) 19.14 N/A N/A Outstanding at December 31, 2020 400 $ 18.16 4.5 $ 156 60 $ 9.04 2.1 $ 653 Exercisable at December 31, 2020 305 $ 20.28 3.3 $ 62 N/A N/A N/A N/A Expected to vest 90 $ 11.50 8.2 $ 87 49 $ 9.41 1.9 $ 533 Total outstanding PSUs and performance shares at December 31, 2020 were 21 million shares with a weighted average fair value of $8.62. The intrinsic value and weighted average contractual term of PSUs and performance shares outstanding were $232 million and 3.0 years, respectively. 2020 2019 2018 Compensation expense (after-tax)(a)(b) $ 353 $ 400 $ 336 Cash received from stock options exercised 6 69 24 Intrinsic value of stock options exercised and RSUs vested 81 154 83 (a) Unrecognized compensation cost related to unvested equity awards as of December 31, 2020 was $543 million, which will be amortized over a weighted average period of 1.3 years.

EARNINGS PER SHARE INFORMATION

EARNINGS PER SHARE INFORMATION	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE INFORMATION	NOTE 18. EARNINGS PER SHARE INFORMATION (Earnings for per-share calculation; 2020 2019 2018 per-share amounts in dollars) Diluted Basic Diluted Basic Diluted Basic Earnings (loss) from continuing operations $ 5,817 $ 5,817 $ 416 $ 416 $ (20,997) $ (20,997) Preferred stock dividends (474) (474) (460) (460) (447) (447) Accretion of redeemable noncontrolling interests, (151) (151) — — — — Earnings (loss) from continuing operations attributable to $ 5,191 $ 5,191 $ (45) $ (45) $ (21,445) $ (21,445) Earnings (loss) from discontinued operations (125) (125) (5,396) (5,396) (1,372) (1,372) Net earnings (loss) attributable to GE common 5,066 5,066 (5,440) (5,440) (22,809) (22,809) Shares of GE common stock outstanding 8,753 8,753 8,724 8,724 8,691 8,691 Employee compensation-related shares (including stock options) and warrants(a) 9 — — — — — Total average equivalent shares 8,761 8,753 8,724 8,724 8,691 8,691 Earnings (loss) per share from continuing operations $ 0.59 $ 0.59 $ (0.01) $ (0.01) $ (2.47) $ (2.47) Earnings (loss) per share from discontinued operations (0.01) (0.01) (0.62) (0.62) (0.16) (0.16) Net earnings (loss) per share 0.58 0.58 (0.62) (0.62) (2.62) (2.62) Potentially dilutive securities(b) 444 450 420 (a) Represents accretion adjustment of redeemable noncontrolling interests in our Additive business within our Aviation segment. (b) Outstanding stock awards not included in the computation of diluted earnings per share because their effect was antidilutive.

OTHER INCOME

OTHER INCOME	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
OTHER INCOME	NOTE 19. OTHER INCOME 2020 2019 2018 Purchases and sales of business interests(a) $ 12,468 $ 3 $ 1,234 Licensing and royalty income 161 256 218 Equity method income 27 206 21 Net interest and investment income(b) (1,546) 1,220 562 Other items 334 515 282 GE Industrial 11,444 2,200 2,317 Eliminations (57) 22 4 Total $ 11,387 $ 2,222 $ 2,321 (a) Included a pre-tax gain of $12,362 million on the sale of BioPharma in 2020. Included a pre-tax gain of $224 million on the sale of ServiceMax partially offset by charges to the valuation allowance on businesses classified as held for sale of $245 million in 2019. Included pre-tax gains of $737 million on the sale of Distributed Power, $681 million on the sale of Value-Based Care and $267 million on the sale of Industrial Solutions, partially offset by charges to the valuation allowance on businesses classified as held for sale of $554 million in 2018. See Note 2 for further information. (b) Included a realized and unrealized pre-tax loss of $2,037 million and unrealized pre-tax gain of $793 million related to our interest in Baker Hughes in 2020 and 2019, respectively. Included interest income associated with customer advances of $146 million, $143 million and $136 million in 2020, 2019 and 2018, respectively. See Notes 3, 9 and 26.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 20. FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis include debt securities mainly supporting obligations to annuitants and policyholders in our run-off insurance operations, our remaining equity interest in Baker Hughes and derivatives. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS Level 1 Level 2 Level 3(a) Netting Net balance(b) December 31 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Investment securities $ 7,319 $ 9,704 $ 36,684 $ 33,606 $ 5,866 $ 5,210 $ — $ — $ 49,868 $ 48,521 Derivatives — — 3,057 2,561 8 11 (2,582) (1,832) 483 740 Total assets $ 7,319 $ 9,704 $ 39,741 $ 36,167 $ 5,874 $ 5,221 $ (2,582) $ (1,832) $ 50,352 $ 49,261 Derivatives $ — $ — $ 1,112 $ 834 $ 7 $ 19 $ (752) $ (651) $ 367 $ 202 Other(c) — — 780 807 — — — — 780 807 Total liabilities $ — $ — $ 1,892 $ 1,641 $ 7 $ 19 $ (752) $ (651) $ 1,147 $ 1,009 (a) Included debt securities classified within Level 3 of $4,185 million of U.S. corporate and $976 million of Mortgage and asset-backed securities at December 31, 2020, and $3,977 million of U.S. corporate and $330 million of Government and agencies securities at December 31, 2019. (b) See Notes 3 and 21 for further information on the composition of our investment securities and derivative portfolios. (c) Primarily represents the liabilities associated with certain of our deferred incentive compensation plans. (d) 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. LEVEL 3 INSTRUMENTS. The majority of our Level 3 balances comprised debt securities classified as available-for-sale with changes in fair value recorded in Other comprehensive income. Balance at Net realized/unrealized gains(losses)(a) Purchases(b) Sales & Settlements Transfers Transfers Balance at 2020 Investment securities $ 5,210 $ 357 $ 1,301 $ (958) $ 2 $ (45) $ 5,866 2019 Investment securities $ 4,013 $ 399 $ 2,159 $ (1,308) $ — $ (53) $ 5,210 (a) Primarily included net unrealized gains (losses) of $323 million and $404 million in Other comprehensive income for the years ended December 31, 2020 and 2019, respectively. (b) Included $745 million of Mortgage and asset-backed securities for the year ended December 31, 2020, and $975 million of U.S. corporate debt securities for the year ended December 31, 2019.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	NOTE 21. FINANCIAL INSTRUMENTS The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2. December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Assets Loans and other receivables $ 3,842 $ 3,970 $ 4,113 $ 4,208 Liabilities Borrowings (Note 11) $ 75,067 $ 86,171 $ 90,882 $ 97,754 Investment contracts (Note 12) 2,049 2,547 2,191 2,588 The higher fair value in relation to carrying value for borrowings at December 31, 2020 compared to December 31, 2019 was driven primarily by a decline in market interest rates. Unlike the carrying amount, the estimated fair value of borrowings included $898 million and $1,106 million of accrued interest at December 31, 2020 and 2019, respectively. Assets and liabilities that are reflected in the accompanying financial statements at fair value are not included in the above disclosures; such items include cash and equivalents, investment securities and derivative financial instruments. DERIVATIVES AND HEDGING. Our policy requires that derivatives are used solely for managing risks and not for speculative purposes. Total gross notional was $95,874 million ($45,672 million in GE Capital and $50,202 million in GE Industrial) and $98,018 million ($55,704 million in GE Capital and $42,314 million in GE Industrial) at December 31, 2020 and 2019, respectively. GE Capital notional relates primarily to managing interest rate and currency risk between financial assets and liabilities, and GE Industrial notional relates primarily to managing currency risks related to foreign exchange, certain equity investments and commodity prices. GE Industrial and GE Capital use cash flow hedges primarily to reduce or eliminate the effects of foreign exchange rate changes. In addition, GE Capital uses fair value hedges to hedge the effects of interest rate and currency changes on debt it has issued as well as net investment hedges to hedge investments in foreign operations. Both GE Industrial and GE Capital also use derivatives not designated as hedges from an accounting standpoint (and therefore we do not apply hedge accounting to the relationship) but otherwise serve the same economic purpose as other hedging arrangements. We use economic hedges when we have exposures to currency exchange risk for which we are unable to meet the requirements for hedge accounting or when changes in the carrying amount of the hedged item are already recorded in earnings in the same period as the derivative making hedge accounting unnecessary. Even though the derivative is an effective economic hedge, there may be a net effect on earnings in each period due to differences in the timing of earnings recognition between the derivative and the hedged item. FAIR VALUE OF DERIVATIVES December 31, 2020 December 31, 2019 Gross Notional All other assets All other liabilities Gross Notional All other assets All other liabilities Interest rate contracts $ 20,500 $ 1,912 $ 7 $ 23,918 $ 1,636 $ 11 Currency exchange contracts 7,512 165 128 7,044 99 46 Derivatives accounted for as hedges $ 28,011 $ 2,077 $ 135 $ 30,961 $ 1,734 $ 57 Interest rate contracts $ 448 $ 6 $ 1 $ 3,185 $ 18 $ 12 Currency exchange contracts 65,379 764 913 62,165 697 744 Other contracts 2,036 218 71 1,706 123 40 Derivatives not accounted for as hedges $ 67,863 $ 988 $ 983 $ 67,056 $ 838 $ 796 Gross derivatives $ 95,874 $ 3,065 $ 1,118 $ 98,018 $ 2,572 $ 853 Netting and credit adjustments $ (647) $ (647) $ (546) $ (546) Cash collateral adjustments (1,935) (104) (1,286) (105) Net derivatives recognized in Statement of Financial Position $ 483 $ 367 $ 740 $ 202 Net accrued interest $ — $ — $ 182 $ 1 Securities held as collateral (2) — (469) — Net amount $ 480 $ 367 $ 452 $ 203 It is standard market practice to post or receive cash collateral with our derivative counterparties in order to minimize counterparty exposure. Included in GE Capital cash, cash equivalents and restricted cash was total net cash collateral received on derivatives of $3,289 million (comprising $4,203 million received and $914 million posted) at December 31, 2020, and $1,584 million (comprising $2,294 million received and $710 million posted) at December 31, 2019. Of these amounts, $1,968 million and $695 million at December 31, 2020 and December 31, 2019, respectively, were received on interest rate derivatives traded through clearing houses, which are recorded as a reduction of derivative assets. Also included in total net cash collateral received are amounts presented as cash collateral adjustments in the table above, amounts related to accrued interest on interest rate derivatives presented as a reduction of Net accrued interest of $292 million and $207 million at December 31, 2020 and December 31, 2019, respectively, and excess net cash collateral posted of $802 million (comprising $3 million received and $805 million posted) at December 31, 2020, and $499 million (comprising $104 million received and $603 million posted) at December 31, 2019, which are excluded from cash collateral adjustments in the table above. Securities held as collateral excluded excess collateral received of zero and $27 million at December 31, 2020 and December 31, 2019, respectively. In the third quarter of 2020, one of our counterparties converted its collateral from securities to cash, which is in line with our other derivative counterparties. Fair value of derivatives in our consolidated Statement of Financial Position excludes accrued interest. FAIR VALUE HEDGES. We use derivatives to hedge the effects of interest rate and currency exchange rate changes on our borrowings. At December 31, 2020, the cumulative amount of hedging adjustments of $5,687 million (including $2,248 million on discontinued hedging relationships) was included in the carrying amount of the hedged liability of $29,374 million. At December 31, 2019, the cumulative amount of hedging adjustments of $4,234 million (including $2,458 million on discontinued hedging relationships) was included in the carrying amount of the hedged liability of $42,759 million. The cumulative amount of hedging adjustments was primarily recorded in long-term borrowings. CASH FLOW HEDGES. We use cash flow hedging primarily to reduce or eliminate the effects of foreign exchange rate changes on purchase and sale contracts in our industrial businesses and to convert foreign currency debt that we have issued in our financial services business back to our functional currency. Changes in the fair value of cash flow hedges are recorded in AOCI and recorded in earnings in the period in which the hedged transaction occurs. The gain (loss) recognized in AOCI was $(61) million, $25 million and $(154) million for the years ended December 31, 2020, 2019 and 2018, respectively. The gain (loss) reclassified from AOCI to earnings was $(7) million, $(60) million and $(102) million for the years ended December 31, 2020, 2019 and 2018, respectively. These amounts were primarily related to currency exchange and interest rate contracts. The total amount in AOCI related to cash flow hedges of forecasted transactions was a $16 million gain at December 31, 2020. We expect to reclassify $32 million of loss to earnings in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. For all periods presented we recognized an immaterial amount related to hedged forecasted transactions and firm commitments that did not occur by the end of the originally specified period. At December 31, 2020, 2019 and 2018, the maximum term of derivative instruments that hedge forecasted transactions was 14 years, 13 years and 14 years, respectively. NET INVESTMENT HEDGES. We invest in foreign operations that conduct their financial services activities in currencies other than the U.S. dollar. We hedge the currency risk associated with those investments primarily using non-derivative instruments such as debt denominated in a foreign currency and short-term currency exchange contracts under which we receive U.S. dollars and pay foreign currency. For these hedges, the portion of the fair value changes of the derivatives or debt instruments that relates to changes in spot currency exchange rates is recorded in a separate component of AOCI. The portion of the fair value changes of the derivatives related to differences between spot and forward rates is recorded in earnings each period. The amounts recorded in AOCI affect earnings if the hedged investment is sold, substantially liquidated, or control is lost. The total gain (loss) recognized in AOCI on hedging instruments for the years ended December 31, 2020, 2019 and 2018 was $(675) million, $120 million and $646 million, respectively, comprising $(41) million, $(36) million and $162 million on currency exchange contracts and $(633) million, $156 million and $484 million on foreign currency debt, respectively. For all periods presented we recognized an immaterial amount excluded from assessment and recognized in earnings. The carrying value of foreign currency debt designated as net investment hedges was $8,348 million, $9,190 million and $12,458 million at December 31, 2020, 2019 and 2018 respectively. The total reclassified from AOCI into earnings was zero, $7 million and $(1) million for the years ended December 31, 2020, 2019 and 2018, respectively. EFFECTS OF DERIVATIVES ON EARNINGS. All derivatives are marked to fair value on our Statement of Financial Position, whether they are designated in a hedging relationship for accounting purposes or are used as economic hedges. For derivatives not designated as hedging instruments, substantially all of the gain or loss recognized in earnings is offset by either the current period change in value of underlying exposures which is recorded in earnings in the current period or a future period when the recording of the exposures occurs. The table below presents the effect of our derivative financial instruments in the consolidated Statement of Earnings (Loss): 2020 2019 Revenues Cost of sales Interest Expense SG&A Other Income Revenues Cost of sales Interest Expense SG&A Other Income Total amounts presented in $ 79,619 $ 60,421 $ 3,273 $ 12,621 $ 11,387 $ 95,214 $ 66,911 $ 4,227 $ 13,949 $ 2,222 Total effect of cash flow hedges $ 88 $ (56) $ (40) $ 1 $ — $ 5 $ (24) $ (37) $ (3) $ — Hedged items $ (1,775) $ (1,276) Derivatives designated as hedging instruments 1,743 1,229 Total effect of fair value hedges $ (31) $ (48) Interest rate contracts $ (35) $ — $ (11) $ — $ 8 $ (24) $ — $ (50) $ — $ (6) Currency exchange contracts (328) 16 — 129 19 180 (35) — (6) (59) Other — — — 86 (46) (2) — 195 — 7 Total effect of derivatives not designated as hedges $ (362) $ 16 $ (11) $ 215 $ (19) $ 154 $ (35) $ 145 $ (6) $ (58) The gain (loss) excluded for cash flow hedges was $25 million and $(1) million for the years ended December 31, 2020 and 2019, respectively. This amount is recognized primarily in Revenues in our consolidated Statement of Earnings (Loss). COUNTERPARTY CREDIT RISK. We manage the risk that counterparties will default and not make payments to us according to the terms of our agreements on an individual counterparty basis. Where we have agreed to netting of derivative exposures with a counterparty, we net our exposures with that counterparty and apply the value of collateral posted to us to determine the exposure. We actively monitor these net exposures against defined limits and take appropriate actions in response, including requiring additional collateral. Our exposures to counterparties (including accrued interest), net of collateral we held, was $388 million and $368 million at December 31, 2020 and 2019, respectively. Counterparties' exposures to our derivative liability (including accrued interest), net of collateral posted by us, was $304 million and $159 million at December 31, 2020 and 2019, respectively.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2020
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 22. VARIABLE INTEREST ENTITIES. In addition to the three VIEs detailed in Note 4, in our consolidated Statement of Financial Position, we have additional consolidated VIEs with assets of $1,888 million and $1,740 million, and liabilities of $812 million and $943 million, inclusive of intercompany eliminations, at December 31, 2020 and 2019, respectively. These entities have no features that could expose us to losses that would significantly exceed the difference between the consolidated assets and liabilities. Substantially all the assets of our consolidated VIEs at December 31, 2020 can only be used to settle the liabilities of those VIEs. Our investments in unconsolidated VIEs were $3,378 million and $1,937 million, at December 31, 2020 and 2019, respectively. These investments are primarily owned by GE Capital businesses of which $1,141 million and $621 million were owned by EFS and comprised of equity method investments, primarily renewable energy tax equity investments, at December 31, 2020 and 2019, respectively. In addition, $1,833 million and $896 million were owned by our run-off insurance operations, primarily comprising investment securities, at December 31, 2020 and 2019, respectively. The increase in investments in unconsolidated VIEs in our run-off insurance operations reflects implementation of our revised reinvestment plan which incorporates the introduction of strategic initiatives to invest in higher-yielding asset classes. 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 23.

COMMITMENTS, GUARANTEES, PRODUC

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES	NOTE 23. COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES COMMITMENTS. The GECAS business within our Capital segment has placed multiple-year orders with various Boeing, Airbus and other aircraft manufacturers with list prices approximating $26,760 million, excluding pre-delivery payments made in advance (including 279 new aircraft with delivery dates of 25% in 2021, 14% in 2022 and 61% in 2023 through 2026) and secondary orders with airlines for used aircraft of approximately $1,985 million (including 43 used aircraft with delivery dates of 72% in 2021, 21% in 2022 and 7% in 2023) at December 31, 2020. When we purchase aircraft, it is at a contractual price, which is usually less than the aircraft manufacturer’s list price. As of December 31, 2020, we have made $2,871 million of pre-delivery payments to aircraft manufacturers. During 2020, GECAS agreed with Boeing to restructure its 737 MAX orderbook including previously canceled positions, resulting in 77 orders now remaining. GE Capital had total investment commitments of $1,957 million at December 31, 2020. The commitments primarily comprise project financing investments in thermal and wind energy projects of $684 million and investments by our run-off insurance operations in investment securities and other assets of $1,249 million, and included within these commitments are obligations to make additional investments in unconsolidated VIEs of $549 million and $1,047 million, respectively. See Note 22 for further information. As of December 31, 2020, in our Aviation segment, we have committed to provide financing assistance of $1,935 million of future customer acquisitions of aircraft equipped with our engines. GUARANTEES. At December 31, 2020, we were committed under the following guarantee arrangements: Credit Support. At December 31, 2020, we have provided $1,525 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. The liability for such credit support was $46 million. Indemnification Agreements – Continuing Operations . At December 31, 2020, we have $1,455 million of other indemnification commitments, including representations and warranties in sales of businesses or assets, for which we recorded a liability of $142 million. Indemnification Agreements – Discontinued Operations. At December 31, 2020, we have provided specific indemnities to buyers of GE Capital’s assets that, in the aggregate, represent a maximum potential claim of $630 million with the related reserves of $104 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. An analysis of changes in the liability for product warranties follows. 2020 2019 2018 Balance at January 1 $ 2,165 $ 2,192 $ 2,103 Current-year provisions 788 713 945 Expenditures (913) (715) (788) Other changes 14 (26) (69) Balance at December 31 $ 2,054 $ 2,165 $ 2,192 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. On November 2, 2015, we acquired the Thermal, Renewables and Grid businesses from Alstom. Prior to the acquisition, the seller was the subject of two significant cases involving anti-competitive activities and improper payments: (1) in January 2007, Alstom was fined €65 million by the European Commission for participating in a gas insulated switchgear cartel that operated from 1988 to 2004 (that fine was later reduced to €59 million), and (2) in December 2014, Alstom pled guilty in the United States to multiple violations of the Foreign Corrupt Practices Act and paid a criminal penalty of $772 million. As part of GE’s accounting for the acquisition, we established a reserve amounting to $858 million for legal and compliance matters related to the legacy business practices that were the subject of these and related cases in various jurisdictions, including the previously reported legal proceedings in Slovenia that are described below. The reserve balance was $858 million and $875 million at December 31, 2020 and December 31, 2019, respectively. Regardless of jurisdiction, the allegations relate to claimed anti-competitive conduct or improper payments in the pre-acquisition period as the source of legal violations and/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 reserve established. The estimation of this reserve involved significant judgment and 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 reserve. Damages sought may include disgorgement of profits on the underlying business transactions, fines and/or penalties, interest, or other forms of resolution. 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 fines and 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. In connection with alleged improper payments by Alstom relating to contracts won in 2006 and 2008 for work on a state-owned power plant in Šoštanj, Slovenia, the power plant owner in January 2017 filed an arbitration claim for damages of approximately $430 million before the International Chamber of Commerce Court of Arbitration in Vienna, Austria. In February 2017, a government investigation in Slovenia of the same underlying conduct proceeded to an investigative phase overseen by a judge of the Celje District Court. In September 2020, the relevant Alstom legacy entity was served with an indictment, which we had anticipated as we are working with the parties to resolve these matters. Shareholder and related lawsuits. Since November 2017, several putative shareholder class actions under the federal securities laws have been filed against GE and certain affiliated individuals and consolidated into a single action currently pending in the U.S. District Court for the Southern District of New York (the Hachem case). In October 2019, the lead plaintiff filed a fifth amended consolidated class action complaint naming as defendants GE and current and former GE executive officers. It alleges violations of Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934 related to insurance reserves and accounting for long-term service agreements and seeks damages on behalf of shareholders who acquired GE stock between February 27, 2013 and January 23, 2018. GE filed a motion to dismiss in December 2019. In January 2021, the court granted defendants’ motion to dismiss as to the majority of the claims. Specifically, the court dismissed all claims related to insurance reserves, as well as all claims related to accounting for long-term service agreements, with the exception of certain claims about historic disclosures related to factoring in the Power business that survive as to GE and its former CFO Jeffrey S. Bornstein. All other individual defendants have been dismissed from the case. In addition, the court denied the plaintiffs’ request to amend their complaint again. Since February 2018, multiple shareholder derivative lawsuits have also been filed against current and former GE executive officers and members of GE’s Board of Directors and GE (as nominal defendant). Six shareholder derivative lawsuits are currently pending: the Bennett case, which was filed in Massachusetts state court; the Cuker, Lindsey, Priest and Tola cases, which were filed in New York state court; and the Burden case, which was filed in the U.S. District Court for the Southern District of New York. These lawsuits have alleged violations of securities laws, breaches of fiduciary duties, unjust enrichment, waste of corporate assets, abuse of control and gross mismanagement, although the specific matters underlying the allegations in the lawsuits have varied. The allegations in the Bennett, Lindsey, Priest, Tola and Burden cases relate to substantially the same facts as those underlying the securities class action described above, and the allegations in the Cuker case relate to alleged corruption in China. The plaintiffs seek unspecified damages and improvements in GE’s corporate governance and internal procedures. The Bennett case has been stayed pending final resolution of another shareholder derivative lawsuit (the Gammel case) that was previously dismissed. In August 2019, the Cuker plaintiffs filed an amended complaint, and GE in September 2019 filed a motion to dismiss the amended complaint. The Lindsey case has been stayed by agreement of the parties. In June 2018, a lawsuit (the Bezio case) was filed in New York state court derivatively on behalf of participants in GE’s 401(k) plan (the GE Retirement Savings Plan (RSP)), and alternatively as a class action on behalf of shareholders who acquired GE stock between February 26, 2013 and January 24, 2018, alleging violations of Section 11 of the Securities Act of 1933 based on alleged misstatements and omissions related to insurance reserves and performance of GE’s business segments in a GE RSP registration statement and documents incorporated therein by reference. In November 2018, the plaintiffs filed an amended derivative complaint naming as defendants GE, former GE executive officers and Fidelity Management Trust Company, as trustee for the GE RSP. In January 2019, GE filed a motion to dismiss, and in November 2019, the court dismissed the remaining claims and the plaintiffs filed a notice of appeal. In December 2019, the plaintiffs filed a second amended derivative complaint, and in January 2020, GE filed a motion to dismiss. In December 2020, the court granted GE's motion to dismiss and dismissed the second amended complaint with prejudice. In July 2018, a putative class action (the Mahar case) was filed in New York state court naming as defendants GE, former GE executive officers, a former member of GE’s Board of Directors and KPMG. It alleged violations of Sections 11, 12 and 15 of the Securities Act of 1933 based on alleged misstatements related to insurance reserves and performance of GE’s business segments in GE Stock Direct Plan registration statements and documents incorporated therein by reference and seeks damages on behalf of shareholders who acquired GE stock between July 20, 2015 and July 19, 2018 through the GE Stock Direct Plan. In February 2019, this case was dismissed. In March 2019, plaintiffs filed an amended derivative complaint naming the same defendants. In April 2019, GE filed a motion to dismiss the amended complaint. In October 2019, the court denied GE's motion to dismiss and stayed the case pending the outcome of the Hachem case. In November 2019, the plaintiffs moved to re-argue to challenge the stay, and GE cross-moved to re-argue the denial of the motion to dismiss and filed a notice of appeal. The court denied both motions for re-argument, and in November 2020, the Appellate Division First Department affirmed the court's denial of GE's motion to dismiss. In January 2021, GE filed a motion for leave to appeal to the New York Court of Appeals. In October 2018, a putative class action (the Houston case) was filed in New York state court naming as defendants GE, certain GE subsidiaries and current and former GE executive officers and employees. It alleges violations of Sections 11, 12 and 15 of the Securities Act of 1933 and seeks damages on behalf of purchasers of senior notes issued in 2016 and rescission of transactions involving those notes. This case has been stayed pending resolution of the motion to dismiss the Hachem case. In December 2018, a putative class action (the Varga case) was filed in the U.S. District Court for the Northern District of New York naming GE and a former GE executive officer as defendants in connection with the oversight of the GE RSP. It alleges that the defendants breached fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) by failing to advise GE RSP participants that GE Capital insurance subsidiaries were allegedly under-reserved and continued to retain a GE stock fund as an investment option in the GE RSP. The plaintiffs seek unspecified damages on behalf of a class of GE RSP participants and beneficiaries from January 1, 2010 through January 19, 2018 or later. In April 2019, GE filed a motion to dismiss. In March 2020, the court granted GE’s motion to dismiss the case, and in February 2021, the Second Circuit in the plaintiffs' appeal affirmed the lower court's dismissal. In February 2019, two putative class actions (the Birnbaum case and the Sheet Metal Workers Local 17 Trust Funds case) were filed in the U.S. District Court for the Southern District of New York naming as defendants GE and current and former GE executive officers. In April 2019, the court issued an order consolidating these two actions. In June 2019, the lead plaintiff filed an amended consolidated complaint. It alleges violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 based on alleged misstatements regarding GE's H-class turbines and goodwill related to GE's Power business. The lawsuit seeks damages on behalf of shareholders who acquired GE stock between December 4, 2017 and December 6, 2018. In August 2019, the lead plaintiff filed a second amended complaint. In September 2019, GE filed a motion to dismiss the second amended complaint. In May 2020, the court granted GE's motion to dismiss the case, and in February 2021, the Second Circuit in the plaintiffs' appeal affirmed the lower court's dismissal. In February 2019, a securities action (the Touchstone case) was filed in the U.S. District Court for the Southern District of New York naming as defendants GE and current and former GE executive officers. It alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Section 1707.43 of the Ohio Securities Act and common law fraud based on alleged misstatements regarding insurance reserves, GE Power’s revenue recognition practices related to long term service agreements, GE’s acquisition of Alstom, and the goodwill recognized in connection with that transaction. The lawsuit seeks damages on behalf of six institutional investors who purchased GE common stock between August 1, 2014 and October 30, 2018 and rescission of those purchases. This case has been stayed pending resolution of the motion to dismiss the Hachem case. As previously reported by Baker Hughes, in March 2019, two derivative lawsuits were filed in the Delaware Court of Chancery naming as defendants GE, directors of Baker Hughes (including former members of GE’s Board of Directors and current and former GE executive officers) and Baker Hughes (as nominal defendant), and the court issued an order consolidating these two actions (the Schippnick case). The complaint as amended in May 2019 alleges, among other things, that GE and the Baker Hughes directors breached their fiduciary duties and that GE was unjustly enriched by entering into transactions and agreements related to GE's sales of approximately 12% of its ownership interest in Baker Hughes in November 2018. The complaint seeks declaratory relief, disgorgement of profits, an award of damages, pre- and post-judgment interest and attorneys’ fees and costs. In May 2019, the plaintiffs voluntarily dismissed their claims against the directors who were members of the Baker Hughes Conflicts Committee and a former Baker Hughes director. In October 2019, the Court denied the remaining defendants’ motions to dismiss, except with respect to the unjust enrichment claim against GE, which has been dismissed. In November 2019, the defendants filed their answer to the complaint, and a special litigation committee of the Baker Hughes Board of Directors moved for an order staying all proceedings in this action pending completion of the committee's investigation of the allegations and claims asserted in the complaint. In October 2020, the special litigation committee filed a report with the Court recommending that the derivative action be terminated. In August 2019, a putative class action (the Tri-State case) was filed in the Delaware Court of Chancery naming as defendants GE and the former Board of Directors of Baker Hughes Incorporated (BHI). It alleges fraud, aiding and abetting breaches of fiduciary duty, and aiding and abetting breaches of duty of disclosure by GE based on allegations regarding financial statements that GE provided the former BHI board, management and shareholders in connection with BHI’s merger with GE’s Oil and Gas Business in July 2017. The plaintiff seeks damages on behalf of BHI shareholders during the period between October 7, 2016 and July 5, 2017. In October 2019, the City of Providence filed a complaint containing allegations substantially similar to those in the Tri-State complaint. The cases were consolidated in November 2019, and in December 2019, the plaintiffs filed an amended consolidated complaint which is similar to the prior complaints but does not include fraud claims against GE. In February 2020, GE and the other defendants filed a motion to dismiss the amended consolidated complaint. In October 2020, the court dismissed all claims asserted against GE, allowing only the claim against the former BHI CEO to move forward. SEC investigation. As previously reported in a Form 8-K filing on December 9, 2020, GE reached a settlement with the SEC in connection with the SEC investigation that we had previously disclosed. Consistent with common SEC practice, GE neither admits nor denies the findings in the administrative order that the SEC issued in connection with the settlement. Under the terms of the settlement, GE in December 2020 paid a civil penalty of $200 million and consented to an order requiring it to cease and desist from violations of specified provisions of the federal securities laws and rules promulgated thereunder. In addition, GE agreed to cooperation obligations and to report during a one-year period to the SEC about compliance related to its Power business and GE Capital’s run-off insurance operations. The SEC's order contains findings related to disclosures with respect to GE’s Power business during the 2015–2017 time period and disclosures and internal controls with respect to GE Capital’s run-off insurance operations during the third quarter of 2015 through the first quarter of 2017. The settlement concluded and resolved the SEC investigation of GE in its entirety. The SEC’s order makes no allegation that prior period financial statements were misstated. This settlement did not require corrections or restatements of GE’s previously reported financial statements, and GE stands behind its financial reporting. GE cooperated with the SEC over the course of its investigation. As noted in the order, GE has taken a number of steps since the time periods covered by the investigation to enhance its investor disclosures regarding power and insurance trends and risks, as well as enhancing internal controls on its insurance premium deficiency testing (also known as loss recognition testing) process and adding disclosure controls and procedures concerning its insurance liabilities. Other GE Retirement Savings Plan class actions. Four putative class action lawsuits have been filed regarding the oversight of the GE RSP, and those class actions have been consolidated into a single action in the U.S. District Court for the District of Massachusetts. The consolidated complaint names as defendants GE, GE Asset Management, current and former GE and GE Asset Management executive officers and employees who served on fiduciary bodies responsible for aspects of the GE RSP during the class period. Like similar lawsuits that have been brought against other companies in recent years, this action alleges that the defendants breached their fiduciary duties under ERISA in their oversight of the GE RSP, principally by retaining five proprietary funds that plaintiffs allege were underperforming as investment options for plan participants and by charging higher management fees than some alternative funds. The plaintiffs seek unspecified damages on behalf of a class of GE RSP participants and beneficiaries from September 26, 2011 through the date of any judgment. In August and December 2018, the court issued orders dismissing one count of the complaint and denying GE's motion to dismiss the remaining counts. We believe we have defenses to the claims and are responding accordingly. Bank BPH. As previously reported, GE Capital’s subsidiary Bank BPH, along with other Polish banks, has been subject to ongoing litigation in Poland related to its portfolio of floating rate residential mortgage loans, with cases brought by individual borrowers seeking relief related to their foreign currency-denominated mortgage loans in various courts throughout Poland. At December 31, 2020, approximately 87% of the Bank BPH portfolio is indexed to or denominated in foreign currencies (primarily Swiss francs), and the total portfolio had a carrying value of $2,437 million. We continue to observe an increase in the number of lawsuits being brought against Bank BPH and other banks in Poland, and this is likely to continue in future reporting periods. We estimate potential losses for Bank BPH in connection with borrower litigation cases that are pending by recording legal reserves, as well as in connection with potential future cases or other adverse developments as part of our ongoing valuation of the Bank BPH portfolio, which we record at the lower of cost or fair value, less cost to sell. At December 31, 2020, the total amount of such estimated losses was $315 million. We have updated our assumptions underlying this amount over time in response to the trends we have previously reported of there being an increase in the number of lawsuits filed, more findings of liability and more severe remedies being ordered against Polish banks, including Bank BPH. We also expect these trends to continue in future reporting periods, although Bank BPH is unable at this time to develop a meaningful estimate of reasonably possible losses associated with active and inactive Bank BPH mortgage loans beyond the amounts currently recorded. These estimates involve significant judgment, including assumptions about the number of borrowers that will file lawsuits, whether liability will be established in lawsuits and the nature of the remedy that a court will order if liability is established, as well as the following factors: uncertainty related to how Polish courts will interpret and apply prior judicial decisions; the pendency of potentially significant judicial decisions that we anticipate will be issued in the first half of 2021, including a decision by the European Court of Justice (ECJ) on the case involving a Bank BPH mortgage loan that was referred to the ECJ in January 2020 and one or more binding resolutions from the Polish Supreme Court; uncertainty related to a proposal by the Chairman of the Polish Financial Supervisory Authority in December 2020 that banks voluntarily offer borrowers an opportunity to convert their foreign currency-denominated mortgage loans to Polish zlotys using an exchange rate applicable at the date of loan origination, and about the approaches that other Polish banks will adopt in response to this proposal; and uncertainty arising from a decision of the Polish Office of Competition and Consumer Protection (UOKiK) in December 2020 which found that certain foreign exchange clauses that appear in certain of Bank BPH’s mortgage loan agreements are unfair contractual terms under Polish law. Future adverse developments related to any of these factors, or other factors such as potential regulatory or legislative relief across the Polish banking industry, could have a material adverse effect on Bank BPH and the carrying value of its mortgage loan portfolio and could result in significant losses beyond the amount that we currently estimate. ENVIRONMENTAL, HEALTH AND SAFETY MATTERS. Our operations, like operations of other companies engaged in similar businesses, involve the use, disposal and cleanup of substances regulated under environmental protection laws and nuclear decommissioning regulations. 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. Total reserves related to environmental remediation, nuclear decommissioning and worker exposure claims were $2,569 million and $2,484 million at December 31, 2020 and 2019, respectively. As previously reported, in 2000, GE and the Environmental Protection Agency (EPA) entered into a consent decree relating to PCB cleanup of the Housatonic River in Massachusetts. Following the EPA’s release in September 2015 of an intended final remediation decision, GE and the EPA engaged in mediation and the first step of the dispute resolution process contemplated by the consent decree. In October 2016, the EPA issued its final decision pursuant to the consent decree, which GE and several other interested parties appealed to the EPA’s Environmental Appeals Board (EAB). The EAB issued its decision in January 2018, affirming parts of the EPA’s decision and granting relief to GE on certain significant elements of its challenge. The EAB remanded the decision back to the EPA to address those elements and reissue a revised final remedy, and the EPA convened a mediation process with GE and interested stakeholders. In February 2020, the EPA announced an agreement between the EPA and many of the mediation stakeholders, including GE, concerning a revised Housatonic River remedy. Based on the mediated resolution, the EPA solicited public comment on a draft permit in July 2020 and issued the final revised permit effective January 4, 2021. As of December 31, 2020, and based on its assessment of current facts and circumstances and its defenses, GE believes that it has recorded adequate reserves to cover future obligations associated with the proposed final remedy. Expenditures for site remediation, nuclear decommissioning and worker exposure claims amounted to approximately $247 million, $236 million and $214 million for the years ended December 31, 2020, 2019 and 2018, respectively. We presently expect that such expenditures will be approximately $350 million and $240 million in 2021 and 2022, respectively.

INTERCOMPANY TRANSACTIONS

INTERCOMPANY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
INTERCOMPANY TRANSACTIONS	NOTE 24. INTERCOMPANY TRANSACTIONS Presented below is a walk of intercompany eliminations from the combined GE Industrial and GE Capital totals to the consolidated cash flows for continuing operations. 2020 2019 2018 Combined GE Industrial and GE Capital cash from (used for) operating activities $ 2,240 $ 6,495 $ 2,282 GE Industrial current receivables sold to GE Capital(a) (597) 1,081 5 GE Industrial long-term receivables sold to GE Capital(b) 312 468 1,079 Supply chain finance programs(c) 2,002 2,289 (18) Other reclassifications and eliminations (360) 86 (138) Consolidated cash from (used for) operating activities $ 3,597 $ 10,419 $ 3,210 Combined GE Industrial and GE Capital cash from (used for) investing activities $ 25,960 $ 13,509 $ 14,915 GE Industrial current receivables sold to GE Capital 496 (1,677) (839) GE Industrial long-term receivables sold to GE Capital(b) (312) (468) (1,079) Supply chain finance programs(c) (2,002) (2,289) 18 GE Capital loans to GE Industrial — — 6,479 Repayment of GE Capital loans by GE Industrial (9,049) (1,523) — Capital contribution from GE Industrial to GE Capital 2,000 4,000 — Other reclassifications and eliminations (315) (868) (570) Consolidated cash from (used for) investing activities $ 16,778 $ 10,684 $ 18,925 Combined GE Industrial and GE Capital cash from (used for) financing activities $ (27,678) $ (14,665) $ (22,408) GE Industrial current receivables sold to GE Capital 102 596 835 GE Capital loans to GE Industrial — — (6,479) Repayment of GE Capital loans by GE Industrial 9,049 1,523 — Capital contribution from GE Industrial to GE Capital (2,000) (4,000) — Other reclassifications and eliminations 675 782 706 Consolidated cash from (used for) financing activities $ (19,853) $ (15,764) $ (27,345) (a) Included the elimination of $14,677 million, $14,716 million and $20,675 million payments to GE Industrial for current receivables purchased and retained by GE Capital and the related reclassification to CFOA of $14,079 million, $15,797 million and $20,680 million due to GE Capital collections and other activity in our consolidated Statement of Cash Flows for the years ended December 31, 2020, 2019 and 2018, respectively. (b) Primarily included the reclassification of long-term receivables purchased and retained by GE Capital to current receivables.

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
OPERATING SEGMENTS	NOTE 25. OPERATING SEGMENTS BASIS FOR PRESENTATION. Our operating businesses are organized based on the nature of markets and customers. Segment accounting policies are the same as described and referenced in Note 1. Segment results for our financial services businesses reflect the discrete tax effect of transactions. A description of our operating segments as of December 31, 2020 can be found in the Segment Operation section within MD&A. REVENUES Total revenues(a) Intersegment revenues(b)(c) External revenues Years ended December 31 2020 2019 2018 2020 2019 2018 2020 2019 2018 Power $ 17,589 $ 18,625 $ 22,150 $ 352 $ 357 $ 152 $ 17,237 $ 18,267 $ 21,997 Renewable Energy 15,666 15,337 14,288 142 139 186 15,523 15,198 14,102 Aviation 22,042 32,875 30,566 1,445 758 375 20,597 32,117 30,191 Healthcare 18,009 19,942 19,784 1 — — 18,008 19,942 19,784 Capital 7,245 8,741 9,551 566 971 1,384 6,679 7,770 8,167 Corporate items and eliminations (932) (305) 673 (2,507) (2,225) (2,097) 1,575 1,920 2,770 Total $ 79,619 $ 95,214 $ 97,012 $ — $ — $ — $ 79,619 $ 95,214 $ 97,012 (a) Revenues of GE Industrial businesses include income from sales of goods and services to customers. (b) Sales from one component to another generally are priced at equivalent commercial selling prices. (c) The increase in intersegment revenues in 2020 at Aviation is primarily driven by higher sales to the Aeroderivative joint venture between our Power segment and Baker Hughes, partially offset by lower spare sales to our GECAS business. The equipment and services revenues classification in the table below is consistent with our segment MD&A presentation. Years ended December 31 2020 2019 2018 Equipment Services Total Equipment Services Total Equipment Services Total Power $ 6,707 $ 10,883 $ 17,589 $ 6,247 $ 12,378 $ 18,625 $ 8,077 $ 14,073 $ 22,150 Renewable Energy 12,859 2,807 15,666 12,267 3,069 15,337 11,419 2,870 14,288 Aviation 8,582 13,460 22,042 12,737 20,138 32,875 11,499 19,067 30,566 Healthcare 9,992 8,017 18,009 11,585 8,357 19,942 11,422 8,363 19,784 Corporate items and industrial eliminations (520) 314 (206) 243 697 940 1,263 987 2,250 Total GE Industrial revenues $ 37,620 $ 35,480 $ 73,100 $ 43,080 $ 44,639 $ 87,719 $ 43,679 $ 45,359 $ 89,038 SEGMENT REVENUES Years ended December 31 2020 2019 2018 Gas Power $ 12,655 $ 13,122 $ 13,296 Power Portfolio 4,935 5,503 8,853 Power $ 17,589 $ 18,625 $ 22,150 Onshore Wind $ 10,881 $ 10,421 $ 8,220 Grid Solutions equipment and services 3,585 4,016 4,579 Hydro, Offshore Wind and Hybrid Solutions 1,200 900 1,489 Renewable Energy $ 15,666 $ 15,337 $ 14,288 Commercial Engines & Services $ 13,017 $ 24,217 $ 22,724 Military 4,572 4,389 4,103 Systems & Other 4,453 4,269 3,740 Aviation $ 22,042 $ 32,875 $ 30,566 Healthcare Systems $ 15,387 $ 14,648 $ 14,886 Pharmaceutical Diagnostics 1,792 2,005 1,888 BioPharma 830 3,289 3,010 Healthcare $ 18,009 $ 19,942 $ 19,784 Corporate items and industrial eliminations $ (206) $ 940 $ 2,250 Total GE Industrial revenues 73,100 87,719 89,038 Capital(a) $ 7,245 $ 8,741 $ 9,551 GE Capital-GE Industrial eliminations (726) (1,245) (1,577) Consolidated revenues $ 79,619 $ 95,214 $ 97,012 (a) Substantially all of our revenues at GE Capital are outside of the scope of ASC 606. Revenues are classified according to the region to which products and services are sold. For purposes of this analysis, the U.S. is presented separately from the remainder of the Americas. Year ended December 31, 2020 Power Renewable Energy Aviation Healthcare Capital Corporate items and eliminations Total U.S. $ 6,186 $ 7,846 $ 11,239 $ 7,611 $ 3,550 $ (1,117) $ 35,314 Non-U.S. Europe 2,895 3,047 4,288 3,952 1,395 155 15,733 Asia 3,961 2,640 3,920 4,719 997 (20) 16,216 Americas 1,483 819 882 879 639 (2) 4,701 Middle East and Africa 3,064 1,314 1,713 848 664 52 7,655 Total Non-U.S. $ 11,403 $ 7,820 $ 10,803 $ 10,398 $ 3,695 $ 185 $ 44,305 Total geographic revenues $ 17,589 $ 15,666 $ 22,042 $ 18,009 $ 7,245 $ (932) $ 79,619 Non-U.S. revenues as a % of consolidated revenues 65 % 50 % 49 % 58 % 51 % 56 % Year ended December 31, 2019 Power Renewable Energy Aviation Healthcare Capital Corporate items and eliminations Total U.S. $ 5,992 $ 7,413 $ 13,384 $ 8,526 $ 4,149 $ (93) $ 39,372 Non-U.S. Europe 3,140 2,925 7,452 4,132 1,577 (135) 19,092 Asia 4,018 2,737 6,641 5,436 1,454 (130) 20,156 Americas 1,915 1,064 1,593 1,056 742 (33) 6,336 Middle East and Africa 3,560 1,198 3,805 792 819 86 10,259 Total Non-U.S. $ 12,633 $ 7,924 $ 19,491 $ 11,416 $ 4,592 $ (212) $ 55,843 Total geographic revenues $ 18,625 $ 15,337 $ 32,875 $ 19,942 $ 8,741 $ (305) $ 95,214 Non-U.S. revenues as a % of consolidated revenues 68 % 52 % 59 % 57 % 53 % 59 % Year ended December 31, 2018 U.S. $ 7,456 $ 4,912 $ 12,529 $ 8,574 $ 5,282 $ 1,124 $ 39,876 Non-U.S. Europe 4,538 3,212 7,027 4,164 1,383 (496) 19,828 Asia 4,072 2,933 5,787 5,219 1,368 (79) 19,300 Americas 2,546 2,179 1,459 988 632 87 7,892 Middle East and Africa 3,538 1,052 3,764 839 886 37 10,117 Total Non-U.S. $ 14,694 $ 9,376 $ 18,037 $ 11,210 $ 4,269 $ (451) $ 57,136 Total geographic revenues $ 22,150 $ 14,288 $ 30,566 $ 19,784 $ 9,551 $ 673 $ 97,012 Non-U.S. revenues as a % of consolidated revenues 66 % 66 % 59 % 57 % 45 % 59 % REMAINING PERFORMANCE OBLIGATION. As of December 31, 2020, the aggregate amount of the contracted revenues allocated to our unsatisfied (or partially unsatisfied) performance obligations was $230,600 million. We expect to recognize revenue as we satisfy our remaining performance obligations as follows: 1) equipment-related remaining performance obligation of $45,991 million of which 58%, 80% and 98% is expected to be recognized within 1, 2 and 5 years, respectively, and the remaining thereafter; and 2) services-related remaining performance obligations of $184,608 million of which 14%, 45%, 65% and 81% 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. Total sales of goods and services to agencies of the U.S. Government were 7%, 5% and 5% of GE Industrial revenues for the years ended December 31, 2020, 2019 and 2018, respectively. Within our Aviation segment, defense-related sales were 6%, 5% and 4% of GE Industrial revenues for the years ended December 31, 2020, 2019 and 2018, respectively. PROFIT AND EARNINGS For the years ended December 31 2020 2019 2018 Power $ 274 $ 291 $ (1,105) Renewable Energy (715) (791) 140 Aviation 1,229 6,812 6,454 Healthcare 3,060 3,737 3,522 Capital (1,710) (530) (489) Total segment profit 2,138 9,519 8,521 Corporate items and eliminations 8,239 (1,825) (2,201) GE Industrial goodwill impairments (877) (1,486) (22,136) GE Industrial interest and other financial charges (1,333) (2,115) (2,415) GE Industrial non-operating benefit costs (2,424) (2,828) (2,740) GE Industrial provision for income taxes (388) (1,309) (467) Earnings (loss) from continuing operations attributable to GE common shareholders 5,355 (44) (21,438) Earnings (loss) from discontinued operations, net of taxes (125) (5,335) (1,363) Less net earnings (loss) attributable to noncontrolling interests, discontinued operations — 60 1 Earnings (loss) from discontinued operations, net of taxes and noncontrolling interests (125) (5,395) (1,364) Consolidated net earnings (loss) attributable to GE common shareholders $ 5,230 $ (5,439) $ (22,802) Interest and other financial charges Benefit (provision) for income taxes For the years ended December 31 2020 2019 2018 2020 2019 2018 Capital $ 2,186 $ 2,532 $ 2,982 $ 862 $ 582 $ 374 Corporate items and eliminations(a) 1,087 1,695 1,784 (388) (1,309) (467) Total $ 3,273 $ 4,227 $ 4,766 $ 474 $ (726) $ (93) (a) Included amounts for Power, Renewable Energy, Aviation and Healthcare, for which our measure of segment profit excludes interest and other financial charges and income taxes. Assets Property, plant and Depreciation and amortization(b) At December 31 For the years ended December 31 For the years ended December 31 2020 2019 2018 2020 2019 2018 2020 2019 2018 Power $ 24,453 $ 26,731 $ 27,389 $ 245 $ 277 $ 358 $ 749 $ 880 $ 1,307 Renewable Energy 15,927 15,935 16,400 302 455 303 413 425 474 Aviation 38,634 41,083 37,488 737 1,031 1,070 1,142 1,150 1,042 Healthcare 22,229 30,503 28,037 256 395 378 628 702 832 Capital(c) 113,526 117,546 119,329 1,765 3,830 4,569 2,590 2,083 2,163 Corporate items and eliminations(d) 35,151 29,269 18,043 (51) (175) (46) 494 355 763 Total continuing $ 249,920 $ 261,068 $ 246,686 $ 3,252 $ 5,813 $ 6,632 $ 6,018 $ 5,595 $ 6,582 (a) Additions to property, plant and equipment include amounts relating to principal businesses purchased. (b) Included amortization expense related to intangible assets. (c) Included Capital deferred income taxes that are presented as assets for purposes of our balance sheet presentation. (d) Included GE Industrial deferred income taxes that are presented as assets for purposes of our balance sheet presentation. We classify certain assets that cannot meaningfully be associated with specific geographic areas as “Other Global” for this purpose. December 31 2020 2019 U.S. $ 148,963 $ 143,534 Non-U.S. Europe 58,301 70,565 Asia 20,630 22,089 Americas 10,795 13,435 Other Global 11,230 11,445 Total Non-U.S. $ 100,956 $ 117,534 Total assets (Continuing Operations) $ 249,920 $ 261,068 The decrease in continuing assets in 2020 was primarily driven by lower volume and the impact of COVID-19, higher net repayment of borrowings, and funding of the GE Pension Plan. The sale of our BioPharma business caused a decrease in assets in different regions, but was more than offset by the proceeds from the sale in the U.S. Property, plant and equipment – net associated with operations based in the United States were $13,010 million and $13,447 million at December 31, 2020 and 2019, respectively. Property, plant and equipment – net associated with operations based outside the United States were $31,651 million and $32,432 million at December 31, 2020 and 2019, respectively.

BAKER HUGHES SUMMARIZED FINANCI

BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION	NOTE 26. BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION. We account for our remaining interest in Baker Hughes (comprising 349.4 million shares with 33.8% ownership and a promissory note receivable as of December 31, 2020) at fair value. The fair value of our interest in Baker Hughes at December 31, 2020 and 2019, was $7,319 million and $9,888 million, respectively. We recognized a realized and unrealized pre-tax loss of $2,037 million ($1,562 million after-tax) based on a share price of $20.85 and a pre-tax unrealized gain of $793 million ($626 million after-tax) based on a share price of $25.63 for the years ended December 31, 2020 and 2019, respectively. The 2020 loss included a $54 million pre-tax derivative loss associated with the forward sale of Baker Hughes shares pursuant to our previously announced program to monetize our Baker Hughes position. In October 2020, we completed a forward sale of 28 million shares and received proceeds of $417 million. In January 2021, we completed a forward sale of 38 million shares and received proceeds of $735 million. See Notes 2 and 3 for further information. Summarized financial information of Baker Hughes is as follows. For the years ended December 31 2020 2019(a) Revenues $ 20,705 $ 7,751 Gross Profit 3,199 1,558 Net income (loss) (15,761) 120 Net income (loss) attributable to the entity (9,940) 60 (a) Financial information is from September 16, 2019 (date of deconsolidation) to December 31, 2019. As of December 31 2020 2019 Current $ 16,455 $ 15,222 Noncurrent 21,552 38,147 Total assets $ 38,007 $ 53,369 Current $ 10,227 $ 10,014 Noncurrent 9,538 8,857 Total liabilities $ 19,765 $ 18,871 Noncontrolling interests $ 5,349 $ 12,570 Baker Hughes is a SEC registrant with separate filing requirements, and its financial information can be obtained from www.sec.gov or www.bakerhughes.com.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
FINANCIAL STATEMENT PRESENTATION	FINANCIAL STATEMENT PRESENTATION. We present our financial statements in a three-column format, which allows investors to see our industrial operations separately from our financial services operations. We believe that this provides useful supplemental information to our consolidated financial statements. To the extent that we have transactions between GE Industrial and GE Capital, these transactions are made on arms- length terms, are reported in the respective columns of our financial statements and are eliminated in consolidation. See Note 24 for further information. Effective December 31, 2020, in order to enhance our financial statement presentation, we voluntarily made the following reporting changes for all periods presented: • changed our presentation of GE Industrial restructuring program costs. Previously these costs were recorded within Corporate Items and Eliminations. Now these costs are recorded within segment profit, except for significant, higher-cost programs that continue to be recorded within Corporate Items and Eliminations; • changed the presentation of our Statement of Financial Position to reflect the classification of assets and liabilities into current and non-current and revised the definition of operating working capital in our Statement of Cash Flows. For the classification of certain current assets and liabilities, we use the duration of our operating cycle, which may be longer than one year; • began presenting research and development expenses separately as part of costs and expenses in our consolidated Statement of Earnings (Loss). These costs were previously reported in costs of goods and services sold; and • ceased reporting GE Capital as an equity method investment within the GE Industrial column. This change has no impact on the GE Capital or Consolidated columns. Consistent with our historical practice, all commercial transactions between GE Industrial and GE Capital continue to be reported on arms-length terms and are eliminated upon consolidation. Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP), which requires us 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 our financial statements. 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 and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to COVID-19. Such changes could result in future impairments of goodwill, intangibles, long-lived assets and investment securities, revisions to estimated profitability on long-term product service agreements, incremental credit losses on receivables and debt securities, a decrease in the carrying amount of our tax assets, or an increase in our insurance liabilities and pension obligations as of the time of a relevant measurement event. In preparing our Statement of Cash Flows, we make certain adjustments to reflect cash flows that cannot otherwise be calculated by changes in our Statement of Financial Position. These adjustments may include, but are not limited to, the effects of currency exchange, acquisitions and dispositions of businesses, businesses classified as held for sale, the timing of settlements to suppliers for property, plant and equipment, non-cash gains/losses and other balance sheet reclassifications.
RECLASSIFICATIONS	We have reclassified certain prior-year amounts to conform to the current-year’s presentation. Unless otherwise noted, tables are presented in U.S. dollars in millions. Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. Earnings per share amounts are computed independently for earnings from continuing operations, earnings from discontinued operations and net earnings. As a result, the sum of per-share amounts may not equal the total. Unless otherwise indicated, information in these notes to consolidated financial statements relates to continuing operations. Certain of our operations have been presented as discontinued. We present businesses whose disposal represents a strategic shift that has, or will have, a major effect on our operations and financial results as discontinued operations when the components meet the criteria for held for sale, are sold, or spun-off.
CONSOLIDATION	CONSOLIDATION. Our financial statements consolidate all of our affiliates, entities where we have a controlling financial interest, most often because we hold a majority voting interest, or where we are required to apply the variable interest entity (VIE) model because we have the power to direct the most economically significant activities of entities. We reevaluate whether we have a controlling financial interest in all entities when our rights and interests change.
REVENUES FROM THE SALE OF EQUIPMENT AND SALE OF SERVICES	REVENUES FROM THE SALE OF EQUIPMENT. Performance Obligations Satisfied Over Time. We recognize revenue on agreements for the sale of customized goods including power generation equipment, long-term construction projects and military development contracts on an over-time basis as we customize the customer's equipment during the manufacturing or integration process and obtain right to payment for work performed. We recognize revenue as we perform under the arrangements using the percentage of completion method which is based on our costs incurred to date relative to our estimate of total expected costs. Our estimate of costs to be incurred to fulfill our promise to a customer is based on our history of manufacturing or constructing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. We provide for potential losses on these agreements when it is probable that we will incur the loss. Our billing terms for these over-time contracts are generally based on achieving specified milestones. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. See Note 9 for further information. Performance Obligations Satisfied at a Point in Time. We recognize revenue on agreements for non-customized equipment including commercial aircraft engines, healthcare equipment and other goods we manufacture on a standardized basis for sale to the market at the point in time that the customer obtains control of the good, which is generally no earlier than when the customer has physical possession of the product. We use proof of delivery for certain large equipment with more complex logistics, whereas the delivery of other equipment is estimated based on historical averages of in-transit periods (i.e., time between shipment and delivery). Where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have concluded that the customer has control of the goods and that acceptance is likely to occur. We do not provide for anticipated losses on point-in-time transactions prior to transferring control of the equipment to the customer. Our billing terms for these point-in-time equipment contracts generally coincide with delivery to the customer; however, within certain businesses, we receive progress collections from customers for large equipment purchases, to generally reserve production slots. REVENUES FROM THE SALE OF SERVICES. Consistent with our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) discussion and the way we manage our businesses, we refer to sales under service agreements, which includes both goods (such as spare parts and equipment upgrades) and related services (such as monitoring, maintenance and repairs) as sales of “services,” which is an important part of our operations. We sometimes offer our customers financing discounts for the purchase of certain GE Industrial products when sold in contemplation of long-term service agreements. These sales are accounted for as financing arrangements when payments for the products are collected through higher usage-based fees from servicing the equipment. See Note 9 for further information. Performance Obligations Satisfied Over Time. We enter into long-term service agreements with our customers primarily within our Aviation and Power segments. These agreements require us to provide preventative maintenance, overhauls, and standby "warranty-type" services that include certain levels of assurance regarding asset performance and uptime throughout the contract periods, which generally range from 5 to 25 years. We account for items that are integral to the maintenance of the equipment as part of our performance obligation, unless the customer has a substantive right to make a separate purchasing decision (e.g., equipment upgrade). We recognize revenue as we perform under the arrangements using the percentage of completion method which is based on our costs incurred to date relative to our estimate of total expected costs. Throughout the life of a contract, this measure of progress captures the nature, timing and extent of our underlying performance activities as our stand-ready services often fluctuate between routine inspections and maintenance, unscheduled service events and major overhauls at pre-determined usage intervals. We provide for potential losses on these agreements when it is probable that we will incur the loss. Our billing terms for these arrangements are generally based on the utilization of the asset (e.g., per hour of usage) or upon the occurrence of a major maintenance event within the contract, such as an overhaul. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. See Note 9 for further information. We also enter into long-term services agreements in our Healthcare and Renewable Energy segments. Revenues are recognized for these arrangements on a straight-line basis consistent with the nature, timing and extent of our services, which primarily relate to routine maintenance and as needed product repairs. We generally invoice periodically as services are provided. Performance Obligations Satisfied at a Point in Time. We sell certain tangible products, largely spare parts, through our services businesses. We recognize revenues and bill our customers at the point in time that the customer obtains control of the good, which is at the point in time we deliver the spare part to the customer.
COLLABORATIVE ARRANGEMENTS	COLLABORATIVE ARRANGEMENTS. Our Aviation business enters into collaborative arrangements and joint ventures with manufacturers and suppliers of components used to build and maintain certain engines. Under these arrangements, GE and its collaborative partners share in the risks and rewards of these programs through various revenue, cost and profit sharing payment structures. GE recognizes revenue and costs for these arrangements based on the scope of work GE is responsible for transferring to its customers.
GE CAPITAL REVENUES FROM SERVICES	GE CAPITAL REVENUES FROM SERVICES. We recognize operating lease income on a straight-line basis over the terms of underlying leases, and we use the interest method to recognize income on loans and finance leases. We stop accruing interest on loans at the earlier of the time at which collection of an account becomes doubtful or the account becomes 90 days past due. Estimated unguaranteed residual values for finance leases are based upon management's best estimates of the value of the leased asset at the end of the lease term. We use various sources of data in determining these estimates, including information obtained from third parties, which is adjusted for the attributes of the specific asset under lease. Guarantees of residual values by unrelated third parties are included within minimum lease payments.
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	CASH, CASH EQUIVALENTS AND RESTRICTED CASH. Debt securities and money market instruments with original maturities of three months or less are included in cash, cash equivalents and restricted cash unless classified as available-for-sale investment securities.
INVESTMENT SECURITIES	INVESTMENT SECURITIES. We report investments in available-for-sale debt securities and certain equity securities at fair value. Unrealized gains and losses on available-for-sale debt securities are recorded to other comprehensive income, net of applicable taxes and adjustments related to our insurance liabilities. Unrealized gains and losses on equity securities with readily determinable fair values are recorded to earnings. Although we generally do not have the intent to sell any specific debt securities in the ordinary course of managing our portfolio, we may sell debt securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders.
CURRENT RECEIVABLES	CURRENT RECEIVABLES. Amounts due from customers arising from the sales of products and services are recorded at the outstanding amount, less allowance for losses. We regularly monitor the recoverability of our receivables.
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES. When we record customer receivables, contract assets and financing receivables arising from revenue transactions, as well as commercial mortgage loans and reinsurance recoverables in GE Capital’s run-off insurance operations, financial guarantees and certain commitments, we record an allowance for credit losses for the current expected credit losses (CECL) inherent in the asset over its expected life. The allowance for credit losses is a valuation account deducted from the amortized cost basis of the assets to present their net carrying value at the amount expected to be collected. Each period the allowance for credit losses is adjusted through earnings to reflect expected credit losses over the remaining lives of the assets. We evaluate debt securities with unrealized losses to determine whether any of the losses arise from concerns about the issuer’s credit or the underlying collateral and record an allowance for credit losses, if required. We estimate expected credit losses based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. When measuring expected credit losses, we pool assets with similar country risk and credit risk characteristics. Changes in the relevant information may significantly affect the estimates of expected credit losses.
FINANCING RECEIVABLES	FINANCING RECEIVABLES. Our financing receivables portfolio consists of a variety of loans and leases, including both larger-balance, non-homogeneous loans and leases and smaller-balance homogeneous loans and leases. We routinely evaluate our entire portfolio for potential specific credit or collection issues that might indicate an impairment.
INVENTORIES	INVENTORIES. All inventories are stated at lower of cost or realizable values. Cost of inventories is primarily determined on a first-in, first-out (FIFO) basis.
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT. The cost of GE Industrial property, plant and equipment is generally depreciated on a straight-line basis over its estimated economic life. The cost of GE Capital equipment leased to others on operating leases is depreciated on a straight-line basis to estimated residual value over the lease term or over the estimated economic life of the equipment.
LEASE ACCOUNTING, LESSEE	LEASE ACCOUNTING. Lessee Arrangements. At lease commencement, we record a lease liability and corresponding right-of-use (ROU) asset. Options to extend the lease are included as part of the ROU lease asset and liability when it is reasonably certain the Company will exercise the option. We have elected to include lease and non-lease components in determining our lease liability for all leased assets except our vehicle leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset. The present value of our lease liability is determined using our incremental collateralized borrowing rate at lease inception. For leases with an initial term of 12 months or less, an ROU asset and lease liability is not recognized and lease expense is recognized on a straight-line basis over the lease term. We test ROU assets whenever events or changes in circumstance indicate that the asset may be impaired.
LEASE ACCOUNTING, LESSOR	Lessor Arrangements. Equipment leased to others under operating leases are included in Property, plant and equipment, and leases classified as finance leases are included in Financing receivables on our Statement of Financial Position. See Notes 5 and 7 for further information.
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS. We test goodwill at least annually for impairment at the reporting unit level. We recognize an impairment charge if the carrying amount of a reporting unit exceeds its fair value. When a portion of a reporting unit is disposed, goodwill is allocated to the gain or loss on disposition based on the relative fair values of the business or businesses disposed and the portion of the reporting unit that will be retained.
DERIVATIVES AND HEDGING	DERIVATIVES AND HEDGING. We use derivatives to manage a variety of risks, including risks related to interest rates, foreign exchange, certain equity investments and commodity prices. Accounting for derivatives as hedges requires that, at inception and over the term of the arrangement, the hedged item and related derivative meet the requirements for hedge accounting. In evaluating whether a particular relationship qualifies for hedge accounting, we test effectiveness at inception and each reporting period thereafter by determining whether changes in the fair value of the derivative offset, within a specified range, changes in the fair value of the hedged item. If fair value changes fail this test, we discontinue applying hedge accounting to that relationship prospectively. Fair values of both the derivative instrument and the hedged item are calculated using internal valuation models incorporating market-based assumptions, subject to third-party confirmation, as applicable.
DEFERRED INCOME TAXES	DEFERRED INCOME TAXES. Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carryforwards, and are stated at enacted tax rates expected to be in effect when those taxes are paid or recovered. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. We evaluate the recoverability of these future tax deductions and credits by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent we consider it more likely than not that a deferred tax asset will not be recovered, a valuation allowance is established. Deferred taxes, as needed, are provided for our investment in affiliates and associated companies when we plan to remit those earnings.
NSURANCE LIABILITIES AND ANNUITY BENEFITS	INSURANCE LIABILITIES AND ANNUITY BENEFITS. Our run-off insurance operations include providing insurance and reinsurance for life and health risks and providing certain annuity products. Primary product types include long-term care, structured settlement annuities, life and disability insurance contracts and investment contracts. Insurance contracts are contracts with significant mortality and/or morbidity risks, while investment contracts are contracts without such risks. Liabilities for traditional long-duration insurance contracts include both future policy benefit reserves and claims reserves. Future policy benefit reserves represent the present value of future policy benefits less the present value of future gross premiums based on actuarial assumptions. Liabilities for investment contracts equal the account value, that is, the amount that accrues to the benefit of the contract or policyholder including credited interest and assessments through the financial statement date. Claim reserves are established when a claim is incurred or is estimated to have been incurred and represent our best estimate of the present value of the ultimate obligations for future claim payments and claim adjustments expenses. To the extent that unrealized gains on specific investment securities supporting our insurance contracts would result in a premium deficiency, should those gains be realized, an increase in future policy benefit reserves is recorded, with an offsetting after-tax reduction to net unrealized gains recorded in other comprehensive income.
POSTRETIREMENT BENEFIT PLANS	POSTRETIREMENT BENEFIT PLANS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. We use a December 31 measurement date for these plans. On our consolidated Statement of Financial Position, we measure our plan assets at fair value and the obligations at the present value of the estimated payments to plan participants. Participants earn benefits based on their service and pay. Those estimated future payment amounts are determined based on assumptions. Differences between our actual results and what we assumed are recorded in a separate component of equity each period. These differences are amortized into earnings over the remaining average future service of active employees or the expected life of inactive participants, as applicable, who participate in the plan.
LOSS CONTINGENCIES	LOSS CONTINGENCIES. Loss contingencies are uncertain and unresolved matters that arise in the ordinary course of business and result from events or actions by others that have the potential to result in a future loss. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory investigations and proceedings, product quality and losses resulting from other events and developments. When a loss is considered probable and reasonably estimable, we record a liability in the amount of our best estimate for the ultimate loss. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low-end of such range. Disclosure is provided for material loss contingencies when a loss is probable but a reasonable estimate cannot be made, and when it is reasonably possible that a loss will be incurred or the amount of a loss will exceed the recorded provision. We regularly review contingencies to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or range of loss can be made.
SUPPLY CHAIN FINANCE PROGRAMS	SUPPLY CHAIN FINANCE PROGRAMS. We evaluate supply chain finance programs to ensure where we use a third-party intermediary to settle our trade payables, their involvement does not change the nature, existence, amount, or timing of our trade payables and does not provide the Company with any direct economic benefit. If any characteristics of the trade payables change or we receive a direct economic benefit, we reclassify the trade payables as borrowings.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS. The following sections describe the valuation methodologies we use to measure financial and non-financial instruments accounted for at fair value including certain assets within our pension plans and retiree benefit plans. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. These inputs establish a fair value hierarchy: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 – Significant inputs to the valuation model are unobservable. RECURRING FAIR VALUE MEASUREMENTS. For financial assets and liabilities measured at fair value on a recurring basis, primarily investment securities and derivatives, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. See Note 20 for further information. Debt Securities. When available, we use quoted market prices to determine the fair value of debt securities which are included in Level 1. For our remaining debt securities, we obtain pricing information from an independent pricing vendor. The inputs and assumptions to the pricing vendor’s models are derived from market observable sources including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other market-related data. These investments are included in Level 2. Our pricing vendors may also provide us with valuations that are based on significant unobservable inputs, and in those circumstances, we classify the investment securities in Level 3. Annually, we conduct reviews of our primary pricing vendor to validate that the inputs used in that vendor’s pricing process are deemed to be market observable as defined in the standard. We believe that the prices received from our pricing vendor are representative of prices that would be received to sell the assets at the measurement date (exit prices) and are classified appropriately in the hierarchy. We use non-binding broker quotes and other third-party pricing services as our primary basis for valuation when there is limited, or no, relevant market activity for a specific instrument or for other instruments that share similar characteristics. Debt securities priced in this manner are included in Level 3. Equity securities with readily determinable fair values . These publicly traded equity securities are valued using quoted prices and are included in Level 1. Derivatives. The majority of our derivatives are valued using internal models. The models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent interest rate swaps, cross-currency swaps and foreign currency and commodity forward and option contracts. Derivative assets and liabilities included in Level 3 primarily represent equity derivatives and interest rate products that contain embedded optionality or prepayment features. Investments in private equity, real estate and collective funds held within our pension plans . These investments are generally valued using the net asset value (NAV) per share as a practical expedient for fair value provided certain criteria are met. The NAVs are determined based on the fair values of the underlying investments in the funds. Investments that are measured at fair value using the NAV practical expedient are not required to be classified in the fair value hierarchy. See Note 13 for further information. NONRECURRING FAIR VALUE MEASUREMENTS. Certain assets are measured at fair value on a nonrecurring basis. These assets may include loans and long-lived assets reduced to fair value upon classification as held for sale, impaired loans based on the fair value of the underlying collateral, impaired equity securities without readily determinable fair value, equity method investments and long-lived assets, and remeasured retained investments in formerly consolidated subsidiaries upon a change in control that results in the deconsolidation of that subsidiary and retention of a noncontrolling stake in the entity. Assets written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs. Equity investments without readily determinable fair value and Associated companies. Equity investments without readily determinable fair value and associated companies are valued using market observable data such as transaction prices when available. When market observable data is unavailable, investments are valued using either a discounted cash flow model, comparative market multiples, third-party pricing sources or a combination of these approaches as appropriate. These investments are generally included in Level 3. Long-lived Assets . Fair values of long-lived assets, including aircraft, are primarily derived internally and are based on observed sales transactions for similar assets. In other instances for which we do not have comparable observed sales transaction data, collateral values are developed internally and corroborated by external appraisal information. Adjustments to third-party valuations may be performed in circumstances where market comparables are not specific to the attributes of the specific collateral or appraisal information may not be reflective of current market conditions due to the passage of time and the occurrence of market events since receipt of the information.
ACCOUNTING CHANGES	ACCOUNTING CHANGES. On January 1, 2020, we adopted ASU No. 2016-13, Financial Instruments - Credit Losses . ASU 2016-13 requires us to prospectively record an allowance for credit losses for the current expected credit losses inherent in the asset over its expected life, replacing the incurred loss model that recognized losses only when they became probable and estimable. We recorded a $221 million increase in our allowance for credit losses and a $175 million decrease to retained earnings, net of tax, reflecting the cumulative effect on retained earnings. On January 1, 2020 we adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The ASU eliminates Step 2 of the goodwill impairment test and the qualitative assessment for any reporting unit with a zero or negative carrying amount. The ASU also requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The adoption did not have an impact on our financial statements. In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . On October 1, 2020, we adopted the new standard, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. We will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect the standard to have a material impact on our consolidated financial statements.

BUSINESSES HELD FOR SALE AND _2

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Financial Information for Discontinued Operations	RESULTS OF DISCONTINUED OPERATIONS For the year ended December 31, 2020 Baker Hughes Transportation and Other GE Capital Total Sales of goods and services $ — $ — $ — $ — GE Capital revenues and other income (loss) — — 55 55 Cost of goods and services sold — — — — Other income, costs and expenses 2 — (252) (249) — Earnings (loss) of discontinued operations before income taxes 2 — (197) (195) Benefit (provision) for income taxes (13) 9 105 101 Earnings (loss) of discontinued operations, net of taxes(a) (10) 9 (92) (93) Gain (loss) on disposal before income taxes (23) (12) 3 (31) Benefit (provision) for income taxes — — (1) (1) Gain (loss) on disposal, net of taxes (23) (12) 2 (32) Earnings (loss) from discontinued operations, net of taxes $ (33) $ (3) $ (90) $ (125) For the year ended December 31, 2019 Sales of goods and services $ 16,047 $ 550 $ — $ 16,598 GE Capital revenues and other income (loss) — — 33 33 Cost of goods and services sold (13,317) (478) — (13,795) Other income, costs and expenses (2,390) (19) (240) (2,650) Earnings (loss) of discontinued operations before income taxes 340 53 (207) 186 Benefit (provision) for income taxes (176) (15) 344 153 Earnings (loss) of discontinued operations, net of taxes(a) 165 39 136 339 Gain (loss) on disposal before income taxes (8,715) 3,471 61 (5,183) Benefit (provision) for income taxes 477 (963) (5) (491) Gain (loss) on disposal, net of taxes (8,238) 2,508 56 (5,675) Earnings (loss) from discontinued operations, net of taxes $ (8,074) $ 2,547 $ 192 $ (5,335) For the year ended December 31, 2018 Sales of goods and services $ 22,859 $ 3,898 $ — $ 26,757 GE Capital revenues and other income (loss) — — (1,347) (1,347) Cost of goods and services sold (19,198) (2,809) — (22,007) Other income, costs and expenses (3,346) (607) (407) (4,360) Earnings (loss) of discontinued operations before income taxes 315 482 (1,755) (958) Benefit (provision) for income taxes (347) (143) 82 (408) Earnings (loss) of discontinued operations, net of taxes(a) (33) 339 (1,673) (1,366) Gain (loss) on disposal before income taxes — — 4 4 Benefit (provision) for income taxes — — (1) (1) Gain (loss) on disposal, net of taxes — — 3 3 Earnings (loss) from discontinued operations, net of taxes $ (33) $ 339 $ (1,670) $ (1,363) (a) Earnings (loss) of discontinued operations attributable to the Company after income taxes was $(94) million, $279 million and $(1,367) million for the years ended December 31, 2020, 2019 and 2018, respectively. December 31 2020 2019 Cash, cash equivalents and restricted cash $ 524 $ 638 Investment securities — 202 Current receivables 61 81 Financing receivables held for sale (Polish mortgage portfolio) 2,437 2,485 Property, plant and equipment - net 109 123 Deferred income taxes 199 264 All other assets 202 317 Assets of discontinued operations(a) $ 3,532 $ 4,109 Accounts payable & Progress collections and deferred income $ 20 $ 40 All other liabilities 180 163 Liabilities of discontinued operations(a)(b) $ 200 $ 203 (a) Assets and liabilities of discontinued operations included $3,388 million and $61 million related to GE Capital as of December 31, 2020.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	2020 2019 December 31 Amortized Gross Gross Estimated Amortized Gross Gross Estimated Equity (Baker Hughes) $ 7,319 $ — $ — $ 7,319 $ 9,888 $ — $ — $ 9,888 Current investment securities $ 7,319 $ — $ — $ 7,319 $ 9,888 $ — $ — $ 9,888 Debt U.S. corporate $ 23,604 $ 6,651 $ (26) $ 30,230 $ 23,037 $ 4,636 $ (11) $ 27,661 Non-U.S. corporate 2,283 458 (1) 2,740 2,161 260 (1) 2,420 State and municipal 3,387 878 (9) 4,256 3,086 598 (15) 3,669 Mortgage and asset-backed 3,652 171 (71) 3,752 3,117 116 (4) 3,229 Government and agencies 1,169 184 — 1,353 1,391 126 — 1,516 Other equity 218 — — 218 136 — — 136 Non-current investment securities $ 34,313 $ 8,342 $ (106) $ 42,549 $ 32,928 $ 5,736 $ (31) $ 38,632 Total $ 41,632 $ 8,342 $ (106) $ 49,868 $ 42,816 $ 5,736 $ (31) $ 48,521
Cash Flows Associated with Investment Securities	GE Capital cash flows associated with purchases, dispositions and maturities of investment securities are as follows: For the years ended December 31 2020 2019 Purchases of investment securities $ (6,031) $ (6,205) Dispositions and maturities of investment securities 4,679 4,589 Net (purchases) dispositions of GE Capital investment securities $ (1,352) $ (1,616)
Contractual Maturities of Investment in Available-for-Sale Debt Securities (Excluding Mortgage and Asset-Backed Securities)	Contractual maturities of our debt securities (excluding mortgage and asset-backed securities) at December 31, 2020 are as follows: Amortized Estimated Due Within one year $ 494 $ 501 After one year through five years 2,781 3,070 After five years through ten years 6,390 7,687 After ten years 20,778 27,321

CURRENT AND LONG-TERM RECEIVA_2

CURRENT AND LONG-TERM RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Receivables	Consolidated GE Industrial December 31 2020 2019 2020 2019 Power $ 3,995 $ 4,689 $ 2,656 $ 3,289 Renewable Energy 2,401 2,306 1,903 1,749 Aviation(a) 4,417 3,249 3,490 2,867 Healthcare 2,336 2,105 1,498 1,379 Corporate 310 246 293 223 Customer receivables 13,459 12,594 9,841 9,507 Sundry receivables(b)(c) 4,395 4,848 4,763 5,047 Allowance for losses(d) (1,164) (874) (1,161) (872) Total current receivables $ 16,691 $ 16,568 $ 13,442 $ 13,682 (a) Includes Aviation receivables from CFM due to 737 MAX temporary fleet grounding of $448 million and $1,397 million as of December 31, 2020 and 2019, respectively. During 2020, CFM and Boeing reached an agreement to secure payment terms for engines delivered in 2019 and 2020, net of progress collections. Based on the agreement, the receivable is expected to be collected from Boeing through the first quarter of 2021. (b) Includes supplier advances, revenue sharing programs receivables in our Aviation business, other non-income based tax receivables, primarily value-added tax related to our operations in various countries outside of the U.S., receivables from disposed businesses, including receivables for transactional agreements and certain intercompany balances that eliminate upon consolidation. Revenue sharing programs receivables in Aviation are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties. (c) Consolidated current receivables include deferred purchase price which represents our retained risk with respect to current customer receivables sold to third parties through one of the receivable facilities. The balance of the deferred purchase price held by GE Capital at December 31, 2020 and 2019, was $413 million and $421 million, respectively. (d) GE Industrial allowance for credit losses primarily increased due to net provisions of $274 million, offset by write-offs and foreign currency impact. GE Capital Third Parties GE Capital Third Parties 2020 2019 Balance at January 1 $ 3,087 $ 6,757 $ 4,386 $ 7,880 GE Industrial sales to GE Capital 32,869 — 40,988 — GE Industrial sales to third parties — 863 — 5,286 GE Capital sales to third parties (18,654) 18,654 (28,073) 28,073 Collections and other (14,004) (23,283) (14,621) (34,482) Reclassification from long-term customer receivables 321 — 407 — Balance at December 31 $ 3,618 (a) $ 2,992 $ 3,087 (a) $ 6,757 (a) At December 31, 2020 and 2019, $505 million and $539 million, respectively, of the current receivables purchased and retained by GE Capital, had been sold by GE Industrial to GE Capital with recourse (i.e., GE Industrial retains all or some risk of default). The effect on GE Industrial cash flows from operating activities (CFOA) of claims by GE Capital on receivables sold with recourse was insignificant for the years ended December 31, 2020 and 2019. LONG-TERM RECEIVABLES Consolidated GE Industrial December 31 2020 2019 2020 2019 Long-term customer receivables(a) $ 585 $ 906 $ 474 $ 506 Long-term sundry receivables(b) 1,748 1,705 2,097 2,035 Allowance for losses (142) (128) (142) (128) Total long-term receivables $ 2,191 $ 2,483 $ 2,430 $ 2,413 (a) As of December 31, 2020 and 2019, GE Capital held $111 million and $400 million, respectively, of GE Industrial long-term customer receivables, of which $98 million and $312 million had been purchased with recourse (i.e., GE Industrial retains all or some risk of default). GE Industrial sold an insignificant amount of long-term customer receivables during the years ended December 31, 2020 and 2019. (b) Includes supplier advances, revenue sharing programs receivables, other non-income based tax receivables and certain intercompany balances that eliminate upon consolidation. Activity related to these facilities is included in GE Capital sales to third parties line in the sales of GE Industrial current customer receivables table above and is as follows: For the years ended December 31 2020 2019 Customer receivables sold to receivables facilities $ 13,591 $ 21,695 Total cash purchase price for customer receivables 13,031 21,202 Cash collections re-invested to purchase customer receivables 11,567 18,012 Non-cash increases to deferred purchase price $ 481 $ 257 Cash payments received on deferred purchase price 489 303 Consolidated GE Capital December 31 2020 2019 2020 2019 Loans, net of deferred income $ 1,300 $ 1,098 $ 5,124 $ 4,927 Allowance for losses (36) (21) (13) (5) Current financing receivables - net 1,265 1,077 5,110 4,922 Investment in financing leases, net of deferred income 1,805 2,070 1,805 2,070 Allowance for losses (34) (12) (34) (12) Non-current financing receivables - net 1,771 2,057 1,771 2,057 Total financing receivables – net $ 3,036 $ 3,134 $ 6,882 $ 6,979 Cash flows associated with GE Capital financing receivables are as follows: For the years ended December 31 2020 2019 Increase in loans to customers $ (15,155) $ (15,022) Principal collections from customers - loans 15,311 18,083 Sales of financing receivables and other 42 328 Net decrease (increase) in GE Capital financing receivables $ 199 $ 3,389

FINANCING RECEIVABLES AND ALL_2

FINANCING RECEIVABLES AND ALLOWANCES (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Financing Receivables, Net	Consolidated GE Industrial December 31 2020 2019 2020 2019 Power $ 3,995 $ 4,689 $ 2,656 $ 3,289 Renewable Energy 2,401 2,306 1,903 1,749 Aviation(a) 4,417 3,249 3,490 2,867 Healthcare 2,336 2,105 1,498 1,379 Corporate 310 246 293 223 Customer receivables 13,459 12,594 9,841 9,507 Sundry receivables(b)(c) 4,395 4,848 4,763 5,047 Allowance for losses(d) (1,164) (874) (1,161) (872) Total current receivables $ 16,691 $ 16,568 $ 13,442 $ 13,682 (a) Includes Aviation receivables from CFM due to 737 MAX temporary fleet grounding of $448 million and $1,397 million as of December 31, 2020 and 2019, respectively. During 2020, CFM and Boeing reached an agreement to secure payment terms for engines delivered in 2019 and 2020, net of progress collections. Based on the agreement, the receivable is expected to be collected from Boeing through the first quarter of 2021. (b) Includes supplier advances, revenue sharing programs receivables in our Aviation business, other non-income based tax receivables, primarily value-added tax related to our operations in various countries outside of the U.S., receivables from disposed businesses, including receivables for transactional agreements and certain intercompany balances that eliminate upon consolidation. Revenue sharing programs receivables in Aviation are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties. (c) Consolidated current receivables include deferred purchase price which represents our retained risk with respect to current customer receivables sold to third parties through one of the receivable facilities. The balance of the deferred purchase price held by GE Capital at December 31, 2020 and 2019, was $413 million and $421 million, respectively. (d) GE Industrial allowance for credit losses primarily increased due to net provisions of $274 million, offset by write-offs and foreign currency impact. GE Capital Third Parties GE Capital Third Parties 2020 2019 Balance at January 1 $ 3,087 $ 6,757 $ 4,386 $ 7,880 GE Industrial sales to GE Capital 32,869 — 40,988 — GE Industrial sales to third parties — 863 — 5,286 GE Capital sales to third parties (18,654) 18,654 (28,073) 28,073 Collections and other (14,004) (23,283) (14,621) (34,482) Reclassification from long-term customer receivables 321 — 407 — Balance at December 31 $ 3,618 (a) $ 2,992 $ 3,087 (a) $ 6,757 (a) At December 31, 2020 and 2019, $505 million and $539 million, respectively, of the current receivables purchased and retained by GE Capital, had been sold by GE Industrial to GE Capital with recourse (i.e., GE Industrial retains all or some risk of default). The effect on GE Industrial cash flows from operating activities (CFOA) of claims by GE Capital on receivables sold with recourse was insignificant for the years ended December 31, 2020 and 2019. LONG-TERM RECEIVABLES Consolidated GE Industrial December 31 2020 2019 2020 2019 Long-term customer receivables(a) $ 585 $ 906 $ 474 $ 506 Long-term sundry receivables(b) 1,748 1,705 2,097 2,035 Allowance for losses (142) (128) (142) (128) Total long-term receivables $ 2,191 $ 2,483 $ 2,430 $ 2,413 (a) As of December 31, 2020 and 2019, GE Capital held $111 million and $400 million, respectively, of GE Industrial long-term customer receivables, of which $98 million and $312 million had been purchased with recourse (i.e., GE Industrial retains all or some risk of default). GE Industrial sold an insignificant amount of long-term customer receivables during the years ended December 31, 2020 and 2019. (b) Includes supplier advances, revenue sharing programs receivables, other non-income based tax receivables and certain intercompany balances that eliminate upon consolidation. Activity related to these facilities is included in GE Capital sales to third parties line in the sales of GE Industrial current customer receivables table above and is as follows: For the years ended December 31 2020 2019 Customer receivables sold to receivables facilities $ 13,591 $ 21,695 Total cash purchase price for customer receivables 13,031 21,202 Cash collections re-invested to purchase customer receivables 11,567 18,012 Non-cash increases to deferred purchase price $ 481 $ 257 Cash payments received on deferred purchase price 489 303 Consolidated GE Capital December 31 2020 2019 2020 2019 Loans, net of deferred income $ 1,300 $ 1,098 $ 5,124 $ 4,927 Allowance for losses (36) (21) (13) (5) Current financing receivables - net 1,265 1,077 5,110 4,922 Investment in financing leases, net of deferred income 1,805 2,070 1,805 2,070 Allowance for losses (34) (12) (34) (12) Non-current financing receivables - net 1,771 2,057 1,771 2,057 Total financing receivables – net $ 3,036 $ 3,134 $ 6,882 $ 6,979 Cash flows associated with GE Capital financing receivables are as follows: For the years ended December 31 2020 2019 Increase in loans to customers $ (15,155) $ (15,022) Principal collections from customers - loans 15,311 18,083 Sales of financing receivables and other 42 328 Net decrease (increase) in GE Capital financing receivables $ 199 $ 3,389
Net Investment in Financing Leases	NET INVESTMENT IN FINANCING LEASES Total financing leases Direct financing and sales type leases(a) Leveraged leases December 31 2020 2019 2020 2019 2020 2019 Total minimum lease payments receivable $ 1,202 $ 1,628 $ 654 799 $ 548 $ 829 Less principal and interest on third-party non-recourse debt (83) (216) — — (83) (216) Net minimum lease payments receivable 1,119 1,412 654 799 465 613 Less deferred income (133) (178) (99) (139) (34) (39) Discounted lease receivable 986 1,234 556 660 431 574 Estimated unguaranteed residual value of leased assets, net of deferred income 819 835 472 412 347 423 Investment in financing leases, net of deferred income(b) $ 1,805 $ 2,070 $ 1,028 $ 1,072 $ 777 $ 997
Contractual Maturities	CONTRACTUAL MATURITIES, DUE IN 2021 2022 2023 2024 2025 Thereafter Total Total loans $ 4,199 $ 261 $ 142 $ 134 $ 318 $ 68 $ 5,124 Net minimum lease payments receivable 294 200 281 193 68 83 1,119

INVENTORIES, INCLUDING DEFERR_2

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories, Including Deferred Inventory Costs	December 31 2020 2019 Raw materials and work in process $ 7,937 $ 8,771 Finished goods 5,654 5,333 Deferred inventory costs(a) 2,299 3,111 Inventories, including deferred inventory costs $ 15,890 $ 17,215

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment and Depreciable Lives	Depreciable lives Original Cost Net Carrying Value December 31 (in years) 2020 2019 2020 2019 Land and improvements 8 $ 599 $ 608 $ 589 $ 596 Buildings, structures and related equipment 8 - 40 8,210 7,824 3,828 3,875 Machinery and equipment 4 - 20 20,915 20,082 7,869 8,360 Leasehold costs and manufacturing plant under construction 1 - 10 2,028 2,165 1,350 1,539 ROU operating lease assets 2,798 3,077 GE Industrial $ 31,751 $ 30,680 $ 16,433 $ 17,447 Land and improvements, buildings, structures and related equipment 1 - 40 $ 144 $ 149 $ 23 $ 29 Equipment leased to others (ELTO)(a) Aircraft 15 - 20 34,372 35,507 20,931 21,414 Engines 15 - 20 4,957 4,113 3,540 3,283 Helicopters 15 - 20 5,750 5,474 4,724 4,709 All other 15 - 35 235 237 194 214 ROU operating lease assets 189 237 GE Capital $ 45,458 $ 45,480 $ 29,600 $ 29,886 Eliminations (1,282) (1,279) (1,372) (1,453) Property, plant and equipment - net $ 75,927 $ 74,880 $ 44,662 $ 45,879
Schedule of Noncancellable Future Rentals Due	Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2020, are as follows: 2021 2022 2023 2024 2025 Thereafter Total $ 2,833 $ 2,451 $ 2,072 $ 1,970 $ 1,658 $ 5,316 $ 16,300
Summary of Operating Lease Expense	OPERATING LEASE EXPENSE 2020 2019 2018 Long-term (fixed) $ 745 $ 834 $ 966 Long-term (variable) 118 136 177 Short-term 209 206 133 Total operating lease expense $ 1,072 $ 1,176 $ 1,276 SUPPLEMENTAL INFORMATION RELATED TO OPERATING LEASES 2020 2019 Operating cash flows used for operating leases $ 766 $ 888 Right-of-use assets obtained in exchange for new lease liabilities $ 600 $ 746 Weighted-average remaining lease term 6.6 years 6.9 years Weighted-average discount rate 4.5 % 4.9 %
Schedule of Maturity of Lease Liabilities	MATURITY OF LEASE LIABILITIES 2021 2022 2023 2024 2025 Thereafter Total Undiscounted lease payments $ 727 $ 648 $ 549 $ 437 $ 267 $ 805 $ 3,433 Less: imputed interest (460) Total lease liability as of December 31, 2020 $ 2,973

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Changes in Goodwill Balances	CHANGES IN GOODWILL BALANCES 2019 2020 Balance at Dispositions Impairments Currency exchange and other Balance at Acquisitions Impairments Currency exchange and other Balance at Power $ 139 $ — $ — $ 6 $ 145 $ — $ — $ — $ 146 Renewable Energy 4,730 — (1,486) 46 3,290 — — 111 3,401 Aviation 9,839 — — 20 9,859 — (877) 266 9,247 Healthcare 17,226 (5,558) — 60 11,728 89 — 37 11,855 Capital 904 (39) — (26) 839 — (839) — — Corporate(a) 1,136 — — (262) 873 — — 2 876 Total $ 33,974 $ (5,597) $ (1,486) $ (156) $ 26,734 $ 90 $ (1,717) $ 417 $ 25,524 (a) Corporate balance at December 31, 2020 and 2019 is our Digital business.
Intangible Assets Subject to Amortization	2020 2019 INTANGIBLE ASSETS SUBJECT TO AMORTIZATION December 31 Useful lives Gross carrying Accumulated Net Gross carrying Accumulated Net Customer-related(a) 3 - 30 $ 6,862 $ (3,432) $ 3,430 $ 6,770 $ (3,070) $ 3,701 Patents and technology 2 - 25 8,191 (4,135) 4,056 8,180 (3,730) 4,450 Capitalized software 3 - 10 5,826 (3,840) 1,986 5,822 (3,651) 2,171 Trademarks & other 3 - 50 778 (477) 301 737 (406) 332 Total $ 21,657 $ (11,883) $ 9,774 $ 21,510 $ (10,857) $ 10,653 (a) Balance includes payments made to our customers, primarily within our Aviation business.
Estimated 5 Year Consolidation Amortization	Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows: ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION 2021 2022 2023 2024 2025 Estimated annual pre-tax amortization $ 1,162 $ 1,085 $ 992 $ 889 $ 817

CONTRACT AND OTHER DEFERRED A_2

CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME (Tables)	12 Months Ended
	Dec. 31, 2020
Contractors [Abstract]
Contract with Customer, Asset and Liability	December 31, 2020 Power Aviation Renewable Energy Healthcare Other Total Revenues in excess of billings $ 5,282 $ 3,072 $ — $ — $ — $ 8,354 Billings in excess of revenues (1,640) (5,375) — — — (7,015) Long-term service agreements $ 3,642 $ (2,304) $ — $ — $ — $ 1,338 Short-term and other service agreements 129 282 106 173 29 719 Equipment contract revenues 2,015 59 1,127 306 201 3,707 Current contract assets $ 5,786 $ (1,963) $ 1,233 $ 479 $ 229 $ 5,764 Nonrecurring engineering costs(a) 16 2,409 34 31 — 2,490 Customer advances and other(b) 822 2,481 — 128 (32) 3,398 Non-current contract and other deferred assets $ 838 $ 4,889 $ 34 $ 159 $ (32) $ 5,888 Total contract and other deferred assets $ 6,623 $ 2,927 $ 1,268 $ 638 $ 197 $ 11,653 December 31, 2019 Power Aviation Renewable Energy Healthcare Other Total Revenues in excess of billings $ 5,342 $ 4,480 $ — $ — $ — $ 9,822 Billings in excess of revenues (1,561) (4,914) — — — (6,476) Long-term service agreements $ 3,781 $ (435) $ — $ — $ — $ 3,346 Short-term and other service agreements 190 316 43 169 — 717 Equipment contract revenues 1,599 82 1,217 324 106 3,327 Current contract assets $ 5,569 $ (37) $ 1,260 $ 492 $ 106 $ 7,390 Nonrecurring engineering costs(a) $ 44 $ 2,257 $ 47 $ 35 $ 8 $ 2,391 Customer advances and other(b) 909 2,313 — 156 (32) 3,346 Non-current contract and other deferred assets $ 953 $ 4,570 $ 47 $ 190 $ (24) $ 5,737 Total contract and other deferred assets $ 6,522 $ 4,533 $ 1,307 $ 683 $ 82 $ 13,127 (a) Included costs incurred prior to production (such as requisition engineering) for equipment production contracts, primarily within our Aviation segment, which are allocated ratably to each unit produced. (b) Included amounts due from customers at Aviation for the sales of engines, spare parts and services, and at Power, for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under long-term service agreements. We have reclassified certain prior-year amounts from the long-term service agreements and equipment contract revenues line items in the table above to conform with the current year’s presentation. December 31, 2020 Power Aviation Renewable Energy Healthcare Other Total Progress collections on equipment contracts $ 4,918 $ 214 $ 1,229 $ — $ — $ 6,362 Other progress collections 458 4,623 4,604 414 (4) 10,096 Total progress collections $ 5,376 $ 4,837 $ 5,834 $ 414 $ (4) $ 16,458 Current deferred income 17 132 194 1,309 105 1,757 Progress collections and deferred income $ 5,393 $ 4,969 $ 6,028 $ 1,724 $ 102 $ 18,215 Non-current deferred income 116 898 214 564 10 1,801 Total progress collections and deferred income $ 5,509 $ 5,867 $ 6,241 $ 2,288 $ 112 $ 20,016 December 31, 2019 Progress collections on equipment contracts $ 5,857 $ 115 $ 1,268 $ — $ — $ 7,240 Other progress collections 413 4,748 4,193 305 2 9,662 Total progress collections $ 6,270 $ 4,863 $ 5,461 $ 305 $ 2 $ 16,902 Current deferred income 18 90 140 1,180 59 1,487 Progress collections and deferred income $ 6,288 $ 4,953 $ 5,602 $ 1,485 $ 61 $ 18,389 Non-current deferred income 31 874 144 467 39 1,555 Total progress collections and deferred income $ 6,319 $ 5,827 $ 5,745 $ 1,952 $ 100 $ 19,944

ALL OTHER ASSETS (Tables)

ALL OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of All Other Assets	December 31 2020 2019 Prepaid taxes and deferred charges $ 368 $ 610 Derivative instruments (Note 21) 440 211 Other 27 31 GE Industrial All other current assets $ 835 $ 852 Assets held for sale $ 871 $ 2,294 Derivative instruments (Note 21) 42 529 Other 108 113 GE Capital All other current assets $ 1,021 $ 2,936 Eliminations (334) (426) Consolidated All other current assets $ 1,522 $ 3,362 Equity method and other investments $ 3,827 $ 4,015 Long-term receivables (Note 4) 2,430 2,413 Prepaid taxes and deferred charges 817 870 Other 874 449 GE Industrial All other non-current assets $ 7,948 $ 7,748 Equity method and other investments $ 3,199 $ 2,227 GECAS pre-delivery payments (Note 23) 2,871 2,934 Insurance cash and cash equivalents(a) 455 583 Other 543 551 GE Capital All other non-current assets $ 7,068 $ 6,294 Eliminations (419) (160) Consolidated All other non-current assets $ 14,597 $ 13,882 Total All other assets $ 16,119 $ 17,244 (a) Cash and cash equivalents in GE Capital insurance entities is subject to regulatory restrictions and used for operations of those entities. Therefore, the balance is included in All other assets.
Equity Method Investments	Equity method investment balance Equity method income (loss) December 31 2020 2019 2020 2019 2018 Power $ 576 $ 565 $ 43 $ (4) $ (20) Renewable Energy 724 630 13 (2) (1) Aviation 2,032 2,073 (41) 204 126 Healthcare 251 245 7 19 16 Capital(a) 3,110 2,159 77 217 (254) Corporate items and eliminations 31 28 5 (11) (99) Total consolidated $ 6,724 $ 5,700 $ 104 $ 423 $ (233) (a) Equity method investments in GE Capital increased $951 million driven primarily by an increase in renewable energy tax equity investments at Energy Financial Services (EFS) and an increase in investments in our run-off insurance operations. Summarized financial information of Baker Hughes is as follows. For the years ended December 31 2020 2019(a) Revenues $ 20,705 $ 7,751 Gross Profit 3,199 1,558 Net income (loss) (15,761) 120 Net income (loss) attributable to the entity (9,940) 60 (a) Financial information is from September 16, 2019 (date of deconsolidation) to December 31, 2019. As of December 31 2020 2019 Current $ 16,455 $ 15,222 Noncurrent 21,552 38,147 Total assets $ 38,007 $ 53,369 Current $ 10,227 $ 10,014 Noncurrent 9,538 8,857 Total liabilities $ 19,765 $ 18,871 Noncontrolling interests $ 5,349 $ 12,570

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Borrowings	December 31 2020 2019 Amount Average Rate Amount Average Rate Commercial paper $ — — % $ 3,008 1.62 % Current portion of long-term borrowings 36 5.03 766 0.36 Current portion of long-term borrowings assumed by GE Industrial 2,432 3.49 5,473 3.71 Other 882 1,832 Total GE Industrial short-term borrowings $ 3,350 $ 11,079 Current portion of long-term borrowings $ 853 1.72 % $ 11,226 3.01 % Intercompany payable to GE Industrial 2,432 2,104 Non-recourse borrowings of consolidated securitization entities 892 0.81 1,569 1.26 Other 283 804 Total GE Capital short-term borrowings $ 4,461 $ 15,702 Eliminations (3,033) (3,140) Total short-term borrowings $ 4,778 $ 23,641 Maturities Amount Average Rate Amount Average Rate Senior notes 2022-2050 $ 18,994 2.90 % $ 14,762 2.11 % Senior notes assumed by GE Industrial 2022-2055 18,178 3.25 23,024 4.17 Subordinated notes assumed by GE Industrial 2035-2037 1,779 3.28 2,871 3.68 Other 435 324 Total GE Industrial long-term borrowings $ 39,386 $ 40,980 Senior notes 2022-2042 $ 30,132 3.41 % $ 25,371 3.66 % Subordinated notes 189 178 Intercompany payable to GE Industrial 16,780 17,038 Non-recourse borrowings of consolidated securitization entities — 86 2.82 Other 582 626 Total GE Capital long-term borrowings $ 47,683 $ 43,299 Eliminations (16,780) (17,038) Total long-term borrowings $ 70,288 $ 67,241 Total borrowings $ 75,067 $ 90,882
Schedule of Maturities of Borrowings	Long-term debt maturities over the next five years follow. 2021 2022 2023 2024 2025 GE Industrial excluding assumed debt $ 36 $ 2,016 $ 977 $ 477 $ 2,440 GE Capital debt assumed by GE Industrial 2,432 1,483 1,977 918 237 GE Capital other debt 853 (a) 1,469 1,771 142 3,477 (a) Fixed and floating rate notes of $340 million contain put options with exercise dates in 2021, which have final maturity beyond 2025.

INSURANCE LIABILITIES AND ANN_2

INSURANCE LIABILITIES AND ANNUITY BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Schedule of Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits	December 31, 2020 Long-term care insurance contracts Structured settlement annuities & life insurance contracts Other Other adjustments(a) Total Future policy benefit reserves $ 16,934 $ 9,207 $ 181 $ 8,160 $ 34,482 Claim reserves(b) 4,393 275 1,068 — 5,736 Investment contracts — 1,034 1,016 — 2,049 Unearned premiums and other 19 189 89 — 298 21,346 10,705 2,354 8,160 42,565 Eliminations — — (374) — (374) Total $ 21,346 $ 10,705 $ 1,980 $ 8,160 $ 42,191 December 31, 2019 Future policy benefit reserves $ 16,755 $ 9,511 $ 183 $ 5,655 $ 32,104 Claim reserves(b) 4,238 252 1,125 — 5,615 Investment contracts — 1,136 1,055 — 2,191 Unearned premiums and other 30 196 96 — 322 21,023 11,095 2,459 5,655 40,232 Eliminations — — (406) — (406) Total $ 21,023 $ 11,095 $ 2,053 $ 5,655 $ 39,826 (a) To the extent that unrealized gains on specific investment securities supporting our insurance contracts would result in a premium deficiency should those gains be realized, an increase in future policy benefit reserves is recorded, with an after-tax reduction of net unrealized gains recognized through Other comprehensive income in our consolidated Statement of Earnings (Loss).

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Description Postretirement Benefit Plans	DESCRIPTION OF OUR PLANS Plan Category Participants Funding Other Principal Pension Plans GE Pension Plan Covers U.S. participants. ~176,500 retirees and beneficiaries, ~93,000 vested former employees and ~26,500 active employees. Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws. We may decide to contribute additional amounts beyond this level. This plan has been closed to new participants since 2012. Benefits for ~20,000 employees with salaried benefits were frozen effective January 1, 2021, and thereafter these employees will receive increased company contributions in the company sponsored defined contribution plan in lieu of participation in a defined benefit plan (announced 10/2019). GE Supplementary Pension Plan Provides supplementary benefits to higher-level, longer-service U.S. employees This plan is unfunded. We pay benefits from company cash. The annuity benefit has been closed to new participants since 2011 and has been replaced by an installment benefit. Benefits for ~700 employees who became executives before 2011 were frozen effective January 1, 2021, and thereafter these employees will accrue the installment benefit offered to new executives since 2011. Other Pension Plans 44 U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million Covers ~56,500 retirees and beneficiaries, ~49,500 vested former employees and ~20,000 active employees Our funding policy is to contribute amounts sufficient to meet minimum funding requirements under employee benefit and tax laws in each country. We pay benefits for some plans from company cash. In certain countries, benefit accruals have ceased and/or have been closed to new hires as of various dates. Principal Retiree Benefit Plans Provides health and life insurance benefits to certain eligible participants Covers U.S participants. ~170,000 retirees and dependents We fund retiree health benefits on a pay-as-you-go basis and the retiree life insurance trust at our discretion. Participants share in the cost of the healthcare benefits.
Cost of Benefits Plans and Assumptions	COST OF OUR BENEFITS PLANS 2020 2019 2018 AND ASSUMPTIONS Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Components of expense (income) Service cost - operating $ 657 $ 243 $ 59 $ 654 $ 246 $ 58 $ 888 $ 323 $ 63 Interest cost 2,350 422 150 2,780 542 202 2,658 548 196 Expected return on plan assets (2,993) (1,082) (11) (3,428) (1,144) (21) (3,248) (1,285) (29) Amortization of net actuarial loss (gain) 3,399 434 (82) 3,439 319 (118) 3,785 312 (79) Amortization of prior service cost (credit) 146 1 (234) 135 3 (232) 143 (9) (230) Curtailment / settlement loss (gain)(a) — 12 — 349 13 (38) 34 1 — Non-operating $ 2,902 $ (213) $ (177) $ 3,275 $ (267) $ (207) $ 3,372 $ (433) $ (142) Net periodic expense (income) $ 3,559 $ 30 $ (118) $ 3,929 $ (21) $ (149) $ 4,260 $ (110) $ (79) Weighted-average assumptions used to determine benefit obligations Discount rate 2.61 % 1.44 % 2.15 % 3.36 % 1.97 % 3.05 % 4.34 % 2.75 % 4.12 % Compensation increases 2.95 3.06 2.82 2.95 3.16 3.75 3.60 3.16 3.60 Initial healthcare trend rate(b) N/A N/A 5.90 N/A N/A 5.90 N/A N/A 6.00 Weighted-average assumptions used to determine benefit cost Discount rate(c) 3.36 1.97 3.05 4.07 2.75 4.12 3.64 2.41 3.43 Expected rate of return on plan assets 6.25 5.69 7.00 6.75 6.76 7.00 6.75 6.75 7.00 (a) For 2019, the principal pension amount is a curtailment loss driven by freezing the GE Pension Plan benefits for certain participants. (b) For 2020, ultimately declining to 5% for 2030 and thereafter. (c) Weighted average 2019 discount rate for principal pension was 4.07%. Discount rate was 4.34% for January 1, 2019 through September 30, 2019 and then changed to 3.24% for the remainder of 2019 due to the remeasurement of the plans for the U.S. pension changes announced in October 2019.
Funded Status	FUNDING STATUS BY PLAN TYPE Benefit Obligation Fair Value of Assets Deficit/(Surplus) 2020 2019 2020 2019 2020 2019 Principal Pension Plans: GE Pension Plan (subject to regulatory funding) $ 68,945 $ 65,065 $ 58,843 $ 52,633 $ 10,102 $ 12,432 GE Supplementary Pension Plan (not subject to regulatory funding) 7,353 6,691 — — 7,353 6,691 76,298 71,756 58,843 52,633 17,455 19,123 Other Pension Plans: Subject to regulatory funding 21,793 19,907 21,283 18,906 510 1,001 Not subject to regulatory funding 2,865 3,014 223 236 2,642 2,778 Principal retiree benefit plans (not subject to regulatory funding) 5,019 5,160 134 289 4,885 4,871 Total plans subject to regulatory funding 90,738 84,972 80,126 71,539 10,612 13,433 Total plans not subject to regulatory funding 15,237 14,865 357 525 14,880 14,340 Total plans $ 105,975 $ 99,837 $ 80,483 $ 72,064 $ 25,492 $ 27,773 PLAN FUNDED STATUS AND AMOUNTS RECORDED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 2020 2019 Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Change in benefit obligations Balance at January 1 $ 71,756 $ 22,921 $ 5,160 $ 68,500 $ 21,091 $ 5,153 Service cost 657 243 59 654 246 58 Interest cost 2,350 422 150 2,780 542 202 Participant contributions 69 28 63 77 29 61 Plan amendments — 27 (7) (42) (c) (17) (23) Actuarial loss (gain) - net 7,057 (a) 1,927 (a) 85 (a) 7,073 (d) 2,422 (a) 275 (a) Benefits paid (3,885) (1,062) (491) (3,788) (1,043) (533) Curtailments — (69) — (838) (32) (33) Settlements (1,706) (b) — — (2,657) (e) — — Dispositions/ acquisitions / other - net — (335) — (3) (1,030) — Exchange rate adjustments — 556 — — 713 — Balance at December 31 $ 76,298 (f) $ 24,658 $ 5,019 (g) $ 71,756 (f) $ 22,921 $ 5,160 (g) Change in plan assets Balance at January 1 52,633 19,142 289 50,009 17,537 362 Actual gain (loss) on plan assets 8,926 2,542 (22) 8,694 2,229 57 Employer contributions 2,806 509 295 298 716 342 Participant contributions 69 28 63 77 29 61 Benefits paid (3,885) (1,062) (491) (3,788) (1,043) (533) Settlements (1,706) (b) — — (2,657) (e) — — Dispositions/ acquisitions / other - net — (59) — — (1,030) — Exchange rate adjustments — 406 — — 704 — Balance at December 31 $ 58,843 $ 21,506 $ 134 $ 52,633 $ 19,142 $ 289 Funded status - deficit $ 17,455 $ 3,152 $ 4,885 $ 19,123 $ 3,779 $ 4,871 Amounts recorded in the consolidated Statement of Financial Position Non-current assets - other — 845 — — 475 — Current liabilities - other (315) (106) (330) (296) (123) (355) Non-current liabilities - compensation and benefits (17,140) (3,891) (4,555) (18,827) (4,131) (4,516) Net amount recorded $ (17,455) $ (3,152) $ (4,885) $ (19,123) $ (3,779) $ (4,871) Amounts recorded in Accumulated other comprehensive income (loss) Prior service cost (credit) (80) 19 (2,148) 67 (16) (2,376) Actuarial loss (gain) 5,687 4,582 (633) 7,961 4,665 (833) Total recorded in Accumulated other comprehensive income (loss) $ 5,607 $ 4,601 $ (2,781) $ 8,028 $ 4,649 $ (3,209) (a) Principally associated with discount rate changes. (b) Irrevocable commitment to purchase group annuity contracts from a third-party insurance company in December 2020. (c) GE Supplementary Pension Plan amendment for the U.S. pension changes announced in October 2019 offset by other plan amendments adopted in 2019. (d) Principally associated with discount rate changes offset by impact of the one-time lump sum payments under the GE Pension Plan. (e) Payments made to former employees from the GE Pension Plan assets for the one-time lump sum payments. (f) The benefit obligation for the GE Supplementary Pension Plan, which is an unfunded plan, was $7,353 million and $6,691 million at year-end 2020 and 2019, respectively. (g) The benefit obligation for retiree health plans was $3,094 million and $3,306 million at December 31, 2020 and 2019, respectively.
Composition of Plan Assets	The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair value of these assets are described in Note 1 and have been applied consistently. 2020 2019 Principal pension Other pension Principal pension Other pension Global equities $ 5,552 $ 3,674 $ 6,826 $ 3,484 Debt securities Fixed income and cash investment funds 6,831 10,003 4,398 8,089 U.S. corporate(a) 8,512 410 8,025 365 Other debt securities(b) 5,505 440 6,076 424 Real estate 2,274 81 2,309 140 Private equities and other investments 490 499 23 452 Total 29,164 15,107 27,657 12,954 Plan assets measured at net asset value Global equities 16,259 1,415 14,616 1,450 Debt securities 5,445 1,268 3,744 914 Real estate 1,324 1,978 1,167 1,930 Private equities and other investments 6,651 1,738 5,449 1,894 Total plan assets at fair value $ 58,843 $ 21,506 $ 52,633 $ 19,142 (a) Primarily represented investment-grade bonds of U.S. issuers from diverse industries. (b) Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and U.S. government, federal agency, state and municipal debt.
Asset Allocation	ASSET ALLOCATION OF PENSION PLANS 2020 Target allocation 2020 Actual allocation Principal Pension Other Pension (weighted average) Principal Pension Other Pension (weighted average) Global equities 30.0 - 47.0 % 22 % 37 % 25 % Debt securities (including cash equivalents) 21.0 - 65.0 52 45 56 Real estate 3.5 - 13.5 9 6 10 Private equities & other investments 6.0 - 16.0 17 12 9
Schedule of Defined Benefit Plan Annual Returns	ANNUALIZED RETURNS 1 year 5 years 10 years 25 years GE Pension Plan 17.6 % 9.7 % 8.0 % 8.0 %
Estimated Future Benefit Payments	EXPECTED FUTURE BENEFIT PAYMENTS OF OUR BENEFIT PLANS Principal pension Other pension Principal retiree benefit 2021 $ 3,725 $ 945 $ 460 2022 3,785 945 440 2023 3,820 955 420 2024 3,845 970 395 2025 3,865 995 380 2026 - 2030 19,410 5,185 1,615
Cost of Postretirement Benefit Plans and Changes in Other Comprehensive Income	COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOME For the years ended December 31 2020 2019 2018 (Pre-tax) Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Principal pension Other pension Principal retiree benefit Cost (income) of postretirement benefit plans $ 3,559 $ 30 $ (118) $ 3,929 $ (21) $ (149) $ 4,260 $ (110) $ (79) Changes in other comprehensive income Prior service cost (credit) - current year — 27 (7) (42) (17) (23) — 82 — Actuarial loss (gain) - current year 1,124 529 119 971 1,592 240 (111) 464 (543) Reclassifications out of AOCI Curtailment / settlement gain (loss) — (3) — (353) (12) 4 (45) (2) — Dispositions — (166) — — (340) — — — — Amortization of net actuarial gain (loss) (3,399) (434) 82 (3,439) (319) 118 (3,785) (312) 79 Amortization of prior service credit (cost) (146) (1) 234 (135) (3) 232 (143) 9 230 Total changes in other comprehensive income (2,421) (48) 428 (2,998) 901 571 (4,084) 241 (234) Cost of postretirement benefit plans and changes in other comprehensive income $ 1,138 $ (18) $ 310 $ 931 $ 880 $ 422 $ 176 $ 131 $ (313)

CURRENT AND ALL OTHER LIABILI_2

CURRENT AND ALL OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Other Liabilities [Abstract]
Current and All Other Liabilities	December 31 2020 2019 Sales allowances, equipment projects and other commercial liabilities $ 5,123 $ 4,277 Product warranties (Note 23) 1,197 1,371 Employee compensation and benefit liabilities 4,763 5,114 Taxes payable 413 429 Environmental, health and safety liabilities (Note 23) 359 330 Due to GE Capital 984 1,080 Derivative instruments (Note 21) 250 171 Other 1,044 2,479 GE Industrial All other current liabilities 14,131 15,251 Aircraft maintenance reserve, sales deposits and other commercial liabilities 1,465 2,336 Interest payable 1,064 1,189 Derivative instruments (Note 21) 117 31 Other 1,244 495 GE Capital All other current liabilities 3,890 4,052 Eliminations (1,422) (1,483) Consolidated All other current liabilities $ 16,600 $ 17,821 Sales allowances, equipment projects and other commercial liabilities 3,917 3,923 Product warranties (Note 23) 857 793 Operating lease liabilities (Note 7) 3,133 3,369 Uncertain and other income taxes and related liabilities 3,652 3,410 Alstom legacy legal matters (Note 23) 858 875 Environmental, health and safety liabilities (Note 23) 2,210 2,154 Redeemable noncontrolling interests (Note 16) 487 439 Other 1,326 1,342 GE Industrial All other non-current liabilities 16,440 16,306 Other commercial liabilities 455 573 Operating lease liabilities (Note 7) 221 238 Uncertain and other income taxes and related liabilities 475 415 GE Capital All other non-current liabilities 1,151 1,226 Eliminations (1,514) (1,593) Consolidated All other non-current liabilities $ 16,077 $ 15,938 Total $ 32,677 $ 33,759

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
(Benefit) Provision for Income Taxes	(BENEFIT) PROVISION FOR INCOME TAXES 2020 2019 2018 Current tax expense (benefit) $ 2,123 $ 2,551 $ 1,743 Deferred tax expense (benefit) from temporary differences (1,735) (1,242) (1,276) Total GE Industrial 388 1,309 467 Current tax expense (benefit) 329 (720) 596 Deferred tax expense (benefit) from temporary differences (1,191) 138 (970) Total GE Capital (862) (582) (374) Current tax expense (benefit) 2,452 1,831 2,339 Deferred tax expense (benefit) from temporary differences (2,926) (1,104) (2,245) Total consolidated $ (474) $ 726 $ 93 CONSOLIDATED (BENEFIT) PROVISION FOR INCOME TAXES 2020 2019 2018 U.S. Federal Current $ 939 $ 146 $ 1,019 Deferred (2,032) (1,266) (3,144) Non - U.S. Current 1,331 2,008 1,132 Deferred (793) 106 1,197 Other 80 (267) (111) Total $ (474) $ 726 $ 93
Consolidated Earnings (Loss) from Continuing Operations Before Income Taxes	CONSOLIDATED EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 2020 2019 2018 U.S. earnings (loss) $ (5,325) $ 506 $ (9,861) Non-U.S. earnings (loss) 10,522 643 (11,126) Total $ 5,197 $ 1,149 $ (20,987)
Income Taxes Paid (Recovered)	INCOME TAXES PAID (RECOVERED) 2020 2019 2018 GE Industrial $ 2,399 $ 2,183 $ 1,803 GE Capital (1,108) 45 65 Total(a) $ 1,291 $ 2,228 $ 1,868 (a) Includes tax payments reported in discontinued operations.
Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate	RECONCILIATION OF U.S. FEDERAL STATUTORY INCOME TAX RATE TO ACTUAL INCOME TAX RATE Consolidated GE Industrial GE Capital 2020 2019 2018 2020 2019 2018 2020 2019 2018 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Tax on global activities including exports(a) (28.5) 91.0 (5.0) (16.3) 61.0 (5.1) 13.8 8.1 3.2 U.S. business credits(b) (3.3) (22.5) 2.6 (1.0) (6.4) 0.4 4.7 21.9 120.0 Goodwill impairments 6.9 26.0 (21.5) 2.5 16.6 (21.9) (8.3) — — Tax Cuts and Jobs Act enactment 0.9 0.2 (0.2) 0.7 5.6 0.5 0.1 15.2 (36.5) All other – net(c)(d)(e) (6.1) (52.5) 2.7 (1.6) (25.1) 2.8 9.8 23.1 (8.0) (30.1) 42.2 (21.4) (15.7) 51.7 (23.3) 20.1 68.3 78.7 Actual income tax rate (9.1) % 63.2 % (0.4) % 5.3 % 72.7 % (2.3) % 41.1 % 89.3 % 99.7 % (a) For the year ended December 31, 2020, included (27.8)%, (18.5)% and 4.6% in consolidated, GE Industrial and GE Capital, respectively, related to the sale of our Biopharma business. For the year ended December 31, 2019, included 55.1% and 35.1% in consolidated and GE Industrial, respectively related to the sale of our BioPharma business. (b) U.S. general business credits, primarily the credit for energy produced from renewable sources and the credit for research performed in the U.S. (c) For the year ended December 31, 2020, included (2.7)%, (0.9)% and 3.6% in consolidated, GE Industrial and GE Capital, respectively for the resolution of the IRS audit of our consolidated U.S. income tax returns for 2014-2015. For the year ended December 31, 2019, included (32.9)%, (19.7)% and 3.5% in consolidated, GE Industrial and GE Capital, respectively for the resolution of the IRS audit of our consolidated U.S. income tax returns for 2012-2013. (d) For the year ended December 31, 2020, included (3.9)%, (2.1)% and 2.2% in consolidated, GE Industrial and GE Capital, respectively, related to deductible stock losses. For the year ended December 31, 2019, included (12.5)% and (8.0)% in consolidated and GE Industrial, respectively, related to the disposition of the Digital ServiceMax business. For the year ended December 31, 2018, included 2.8% and 2.8% in consolidated and GE Industrial, respectively, related to deductible stock losses.
Unrecognized Tax Benefits	The balance of unrecognized tax benefits, the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next 12 months were: UNRECOGNIZED TAX BENEFITS December 31 2020 2019 2018 Unrecognized tax benefits $ 4,191 $ 4,169 $ 5,563 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 2,986 2,701 4,265 Accrued interest on unrecognized tax benefits 628 722 934 Accrued penalties on unrecognized tax benefits 179 195 182 Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months 0-350 0-700 0-1,300 Portion that, if recognized, would reduce tax expense and effective tax rate(a) 0-250 0-650 0-1,200 (a) Some portion of such reduction may be reported as discontinued operations.
Unrecognized Tax Benefits Reconciliation	UNRECOGNIZED TAX BENEFITS RECONCILIATION 2020 2019 2018 Balance at January 1 $ 4,169 $ 5,563 $ 5,449 Additions for tax positions of the current year 836 403 300 Additions for tax positions of prior years 326 500 945 Reductions for tax positions of prior years(a) (863) (1,927) (905) Settlements with tax authorities (127) (155) (64) Expiration of the statute of limitations (151) (214) (162) Balance at December 31 $ 4,191 $ 4,169 $ 5,563
Components of Net Deferred Income Tax Asset (Liability)	The following table presents our net deferred tax assets and net deferred tax liabilities attributable to different tax jurisdictions or different tax paying components. DEFERRED INCOME TAXES December 31 2020 2019 GE Industrial $ 10,069 $ 8,888 GE Capital 3,610 2,500 Total assets 13,679 11,388 GE Industrial (719) (699) GE Capital (879) (800) Total liabilities (1,598) (1,499) Net deferred income tax asset (liability) $ 12,081 $ 9,889 COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY) December 31 2020 2019 Principal pension plans $ 3,666 $ 4,016 Provision for expenses 2,258 1,990 Other compensation and benefits 1,968 2,206 Principal retiree benefit plans 1,026 1,023 Capitalized expenditures 993 860 Non-U.S. loss carryforwards(a) 814 602 Intangible assets 486 1,315 Baker Hughes investment (973) (1,256) Depreciation (676) (823) Contract assets (460) (1,232) Other – net(b) 248 (512) GE Industrial 9,350 8,189 Insurance company loss reserves 1,684 1,715 Non-U.S. loss carryforwards(a) 1,194 1,274 Capitalized expenditures 799 742 Operating leases (1,900) (2,218) Financing leases (393) (477) Other – net(b) 1,347 664 GE Capital 2,731 1,700 Net deferred income tax asset (liability) $ 12,081 $ 9,889 (a) Net of valuation allowances of $5,934 million and $4,801 million for GE Industrial and $265 million and $201 million for GE Capital as of December 31, 2020 and 2019, respectively. Of the net deferred tax asset as of December 31, 2020 of $2,008 million, $19 million relates to net operating loss carryforwards that expire in various years ending from December 31, 2021 through December 31, 2023; $112 million relates to net operating losses that expire in various years ending from December 31, 2024 through December 31, 2040 and $1,957 million relates to net operating loss carryforwards that may be carried forward indefinitely. (b) Included valuation allowances related to assets other than non-U.S. loss carryforwards of $898 million and $1,897 million for GE Industrial and $221 million and $248 million for GE Capital as of December 31, 2020 and 2019, respectively.

SHAREHOLDERS_ EQUITY (Tables)

SHAREHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Shareowners' Equity	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 2020 2019 2018 Beginning balance $ 61 $ (39) $ (102) Other comprehensive income (loss) (OCI) before reclassifications – net of deferred taxes of $10, $32 and $41(a) 55 141 87 Reclassifications from OCI – net of deferred taxes of $(14), $(11) and $(6) (56) (42) (23) Other comprehensive income (loss) (1) 100 64 Less OCI attributable to noncontrolling interests — — — Investment securities ending balance $ 60 $ 61 $ (39) Beginning balance $ (4,818) $ (6,134) $ (4,661) OCI before reclassifications – net of deferred taxes of $(25), $(98) and $29 (255) 41 (2,076) Reclassifications from OCI – net of deferred taxes of $0, $(9) and $89(b)(c) 691 1,234 412 Other comprehensive income (loss) 435 1,275 (1,664) Less OCI attributable to noncontrolling interests 2 (40) (192) Currency translation adjustments ending balance $ (4,386) $ (4,818) $ (6,134) Beginning balance $ 49 $ 13 $ 62 OCI before reclassifications – net of deferred taxes of $11, $6 and $(26) (94) (21) (149) Reclassifications from OCI – net of deferred taxes of $(11), $2 and $4(b) 17 58 98 Other comprehensive income (loss) (77) 37 (51) Less OCI attributable to noncontrolling interests — 2 (2) Cash flow hedges ending balance $ (28) $ 49 $ 13 Beginning balance $ (7,024) $ (8,254) $ (9,702) OCI before reclassifications – net of deferred taxes of $(283), $(418) and $115 (1,256) (2,097) 71 Reclassifications from OCI – net of deferred taxes of $805, $915 and $2,610 (b)(c) 2,888 3,325 1,345 Other comprehensive income (loss) 1,632 1,228 1,416 Less OCI attributable to noncontrolling interests 4 (2) (32) Benefit plans ending balance $ (5,395) $ (7,024) $ (8,254) Accumulated other comprehensive income (loss) at December 31 $ (9,749) $ (11,732) $ (14,414) (a) Included adjustments of $(1,979) million, $(2,693) million and $1,825 million in 2020, 2019 and 2018, respectively, related to insurance liabilities and annuity benefits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment security gains been realized. See Note 12 for further information. (b) The total reclassification from AOCI included $836 million, including currency translation of $688 million, net of taxes, in 2020, related to the sale of our BioPharma business within our Healthcare segment. (c) Currency translation and benefit plan gains and losses included $1,343 million, including currency translation of $1,066 million, net of taxes, in 2019 earnings (loss) from discontinued operations related to deconsolidation of Baker Hughes.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Weighted Average Grant Date Fair Value	WEIGHTED AVERAGE GRANT DATE FAIR VALUE 2020 2019 2018 Stock options $ 3.58 $ 3.48 $ 3.00 RSUs 7.91 10.12 13.96 PSUs/Performance shares 7.91 10.73 4.80
Stock-Based Compensation Activity	STOCK-BASED COMPENSATION ACTIVITY Stock options RSUs Shares (in millions) Weighted average exercise price Weighted average contractual term (in years) Intrinsic value (in millions) Shares (in millions) Weighted average grant date fair value Weighted average contractual term (in years) Intrinsic value (in millions) Outstanding at January 1, 2020 458 $ 18.66 28 $ 13.29 Granted 36 10.56 46 7.91 Exercised (1) 7.48 (10) 14.44 Forfeited (15) 11.12 (4) 11.80 Expired (78) 19.14 N/A N/A Outstanding at December 31, 2020 400 $ 18.16 4.5 $ 156 60 $ 9.04 2.1 $ 653 Exercisable at December 31, 2020 305 $ 20.28 3.3 $ 62 N/A N/A N/A N/A Expected to vest 90 $ 11.50 8.2 $ 87 49 $ 9.41 1.9 $ 533
Schedule of Compensation Expense	2020 2019 2018 Compensation expense (after-tax)(a)(b) $ 353 $ 400 $ 336 Cash received from stock options exercised 6 69 24 Intrinsic value of stock options exercised and RSUs vested 81 154 83 (a) Unrecognized compensation cost related to unvested equity awards as of December 31, 2020 was $543 million, which will be amortized over a weighted average period of 1.3 years.
Schedule of Cash Proceeds and Intrinsic Value	2020 2019 2018 Compensation expense (after-tax)(a)(b) $ 353 $ 400 $ 336 Cash received from stock options exercised 6 69 24 Intrinsic value of stock options exercised and RSUs vested 81 154 83 (a) Unrecognized compensation cost related to unvested equity awards as of December 31, 2020 was $543 million, which will be amortized over a weighted average period of 1.3 years.

EARNINGS PER SHARE INFORMATION

EARNINGS PER SHARE INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	(Earnings for per-share calculation; 2020 2019 2018 per-share amounts in dollars) Diluted Basic Diluted Basic Diluted Basic Earnings (loss) from continuing operations $ 5,817 $ 5,817 $ 416 $ 416 $ (20,997) $ (20,997) Preferred stock dividends (474) (474) (460) (460) (447) (447) Accretion of redeemable noncontrolling interests, (151) (151) — — — — Earnings (loss) from continuing operations attributable to $ 5,191 $ 5,191 $ (45) $ (45) $ (21,445) $ (21,445) Earnings (loss) from discontinued operations (125) (125) (5,396) (5,396) (1,372) (1,372) Net earnings (loss) attributable to GE common 5,066 5,066 (5,440) (5,440) (22,809) (22,809) Shares of GE common stock outstanding 8,753 8,753 8,724 8,724 8,691 8,691 Employee compensation-related shares (including stock options) and warrants(a) 9 — — — — — Total average equivalent shares 8,761 8,753 8,724 8,724 8,691 8,691 Earnings (loss) per share from continuing operations $ 0.59 $ 0.59 $ (0.01) $ (0.01) $ (2.47) $ (2.47) Earnings (loss) per share from discontinued operations (0.01) (0.01) (0.62) (0.62) (0.16) (0.16) Net earnings (loss) per share 0.58 0.58 (0.62) (0.62) (2.62) (2.62) Potentially dilutive securities(b) 444 450 420 (a) Represents accretion adjustment of redeemable noncontrolling interests in our Additive business within our Aviation segment.

OTHER INCOME (Tables)

OTHER INCOME (Tables)	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other Income	2020 2019 2018 Purchases and sales of business interests(a) $ 12,468 $ 3 $ 1,234 Licensing and royalty income 161 256 218 Equity method income 27 206 21 Net interest and investment income(b) (1,546) 1,220 562 Other items 334 515 282 GE Industrial 11,444 2,200 2,317 Eliminations (57) 22 4 Total $ 11,387 $ 2,222 $ 2,321 (a) Included a pre-tax gain of $12,362 million on the sale of BioPharma in 2020. Included a pre-tax gain of $224 million on the sale of ServiceMax partially offset by charges to the valuation allowance on businesses classified as held for sale of $245 million in 2019. Included pre-tax gains of $737 million on the sale of Distributed Power, $681 million on the sale of Value-Based Care and $267 million on the sale of Industrial Solutions, partially offset by charges to the valuation allowance on businesses classified as held for sale of $554 million in 2018. See Note 2 for further information. (b) Included a realized and unrealized pre-tax loss of $2,037 million and unrealized pre-tax gain of $793 million related to our interest in Baker Hughes in 2020 and 2019, respectively. Included interest income associated with customer advances of $146 million, $143 million and $136 million in 2020, 2019 and 2018, respectively. See Notes 3, 9 and 26.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS Level 1 Level 2 Level 3(a) Netting Net balance(b) December 31 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Investment securities $ 7,319 $ 9,704 $ 36,684 $ 33,606 $ 5,866 $ 5,210 $ — $ — $ 49,868 $ 48,521 Derivatives — — 3,057 2,561 8 11 (2,582) (1,832) 483 740 Total assets $ 7,319 $ 9,704 $ 39,741 $ 36,167 $ 5,874 $ 5,221 $ (2,582) $ (1,832) $ 50,352 $ 49,261 Derivatives $ — $ — $ 1,112 $ 834 $ 7 $ 19 $ (752) $ (651) $ 367 $ 202 Other(c) — — 780 807 — — — — 780 807 Total liabilities $ — $ — $ 1,892 $ 1,641 $ 7 $ 19 $ (752) $ (651) $ 1,147 $ 1,009 (a) Included debt securities classified within Level 3 of $4,185 million of U.S. corporate and $976 million of Mortgage and asset-backed securities at December 31, 2020, and $3,977 million of U.S. corporate and $330 million of Government and agencies securities at December 31, 2019. (b) See Notes 3 and 21 for further information on the composition of our investment securities and derivative portfolios. (c) Primarily represents the liabilities associated with certain of our deferred incentive compensation plans.
Schedule of Level 3 Instruments	Balance at Net realized/unrealized gains(losses)(a) Purchases(b) Sales & Settlements Transfers Transfers Balance at 2020 Investment securities $ 5,210 $ 357 $ 1,301 $ (958) $ 2 $ (45) $ 5,866 2019 Investment securities $ 4,013 $ 399 $ 2,159 $ (1,308) $ — $ (53) $ 5,210 (a) Primarily included net unrealized gains (losses) of $323 million and $404 million in Other comprehensive income for the years ended December 31, 2020 and 2019, respectively. (b) Included $745 million of Mortgage and asset-backed securities for the year ended December 31, 2020, and $975 million of U.S. corporate debt securities for the year ended December 31, 2019.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Estimated Fair Value of Assets and Liabilities	The following table provides information about assets and liabilities not carried at fair value and excludes finance leases, equity securities without readily determinable fair value and non-financial assets and liabilities. Substantially all of these assets are considered to be Level 3 and the vast majority of our liabilities’ fair value are considered Level 2. December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Assets Loans and other receivables $ 3,842 $ 3,970 $ 4,113 $ 4,208 Liabilities Borrowings (Note 11) $ 75,067 $ 86,171 $ 90,882 $ 97,754 Investment contracts (Note 12) 2,049 2,547 2,191 2,588
Fair Value of Derivative Assets	FAIR VALUE OF DERIVATIVES December 31, 2020 December 31, 2019 Gross Notional All other assets All other liabilities Gross Notional All other assets All other liabilities Interest rate contracts $ 20,500 $ 1,912 $ 7 $ 23,918 $ 1,636 $ 11 Currency exchange contracts 7,512 165 128 7,044 99 46 Derivatives accounted for as hedges $ 28,011 $ 2,077 $ 135 $ 30,961 $ 1,734 $ 57 Interest rate contracts $ 448 $ 6 $ 1 $ 3,185 $ 18 $ 12 Currency exchange contracts 65,379 764 913 62,165 697 744 Other contracts 2,036 218 71 1,706 123 40 Derivatives not accounted for as hedges $ 67,863 $ 988 $ 983 $ 67,056 $ 838 $ 796 Gross derivatives $ 95,874 $ 3,065 $ 1,118 $ 98,018 $ 2,572 $ 853 Netting and credit adjustments $ (647) $ (647) $ (546) $ (546) Cash collateral adjustments (1,935) (104) (1,286) (105) Net derivatives recognized in Statement of Financial Position $ 483 $ 367 $ 740 $ 202 Net accrued interest $ — $ — $ 182 $ 1 Securities held as collateral (2) — (469) — Net amount $ 480 $ 367 $ 452 $ 203
Fair Value of Derivative Liabilities	FAIR VALUE OF DERIVATIVES December 31, 2020 December 31, 2019 Gross Notional All other assets All other liabilities Gross Notional All other assets All other liabilities Interest rate contracts $ 20,500 $ 1,912 $ 7 $ 23,918 $ 1,636 $ 11 Currency exchange contracts 7,512 165 128 7,044 99 46 Derivatives accounted for as hedges $ 28,011 $ 2,077 $ 135 $ 30,961 $ 1,734 $ 57 Interest rate contracts $ 448 $ 6 $ 1 $ 3,185 $ 18 $ 12 Currency exchange contracts 65,379 764 913 62,165 697 744 Other contracts 2,036 218 71 1,706 123 40 Derivatives not accounted for as hedges $ 67,863 $ 988 $ 983 $ 67,056 $ 838 $ 796 Gross derivatives $ 95,874 $ 3,065 $ 1,118 $ 98,018 $ 2,572 $ 853 Netting and credit adjustments $ (647) $ (647) $ (546) $ (546) Cash collateral adjustments (1,935) (104) (1,286) (105) Net derivatives recognized in Statement of Financial Position $ 483 $ 367 $ 740 $ 202 Net accrued interest $ — $ — $ 182 $ 1 Securities held as collateral (2) — (469) — Net amount $ 480 $ 367 $ 452 $ 203
Effects of Derivatives on Earnings	The table below presents the effect of our derivative financial instruments in the consolidated Statement of Earnings (Loss): 2020 2019 Revenues Cost of sales Interest Expense SG&A Other Income Revenues Cost of sales Interest Expense SG&A Other Income Total amounts presented in $ 79,619 $ 60,421 $ 3,273 $ 12,621 $ 11,387 $ 95,214 $ 66,911 $ 4,227 $ 13,949 $ 2,222 Total effect of cash flow hedges $ 88 $ (56) $ (40) $ 1 $ — $ 5 $ (24) $ (37) $ (3) $ — Hedged items $ (1,775) $ (1,276) Derivatives designated as hedging instruments 1,743 1,229 Total effect of fair value hedges $ (31) $ (48) Interest rate contracts $ (35) $ — $ (11) $ — $ 8 $ (24) $ — $ (50) $ — $ (6) Currency exchange contracts (328) 16 — 129 19 180 (35) — (6) (59) Other — — — 86 (46) (2) — 195 — 7 Total effect of derivatives not designated as hedges $ (362) $ 16 $ (11) $ 215 $ (19) $ 154 $ (35) $ 145 $ (6) $ (58)

COMMITMENTS, GUARANTEES, PROD_2

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	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. An analysis of changes in the liability for product warranties follows. 2020 2019 2018 Balance at January 1 $ 2,165 $ 2,192 $ 2,103 Current-year provisions 788 713 945 Expenditures (913) (715) (788) Other changes 14 (26) (69) Balance at December 31 $ 2,054 $ 2,165 $ 2,192

INTERCOMPANY TRANSACTIONS (Tabl

INTERCOMPANY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Intercompany Eliminations	Presented below is a walk of intercompany eliminations from the combined GE Industrial and GE Capital totals to the consolidated cash flows for continuing operations. 2020 2019 2018 Combined GE Industrial and GE Capital cash from (used for) operating activities $ 2,240 $ 6,495 $ 2,282 GE Industrial current receivables sold to GE Capital(a) (597) 1,081 5 GE Industrial long-term receivables sold to GE Capital(b) 312 468 1,079 Supply chain finance programs(c) 2,002 2,289 (18) Other reclassifications and eliminations (360) 86 (138) Consolidated cash from (used for) operating activities $ 3,597 $ 10,419 $ 3,210 Combined GE Industrial and GE Capital cash from (used for) investing activities $ 25,960 $ 13,509 $ 14,915 GE Industrial current receivables sold to GE Capital 496 (1,677) (839) GE Industrial long-term receivables sold to GE Capital(b) (312) (468) (1,079) Supply chain finance programs(c) (2,002) (2,289) 18 GE Capital loans to GE Industrial — — 6,479 Repayment of GE Capital loans by GE Industrial (9,049) (1,523) — Capital contribution from GE Industrial to GE Capital 2,000 4,000 — Other reclassifications and eliminations (315) (868) (570) Consolidated cash from (used for) investing activities $ 16,778 $ 10,684 $ 18,925 Combined GE Industrial and GE Capital cash from (used for) financing activities $ (27,678) $ (14,665) $ (22,408) GE Industrial current receivables sold to GE Capital 102 596 835 GE Capital loans to GE Industrial — — (6,479) Repayment of GE Capital loans by GE Industrial 9,049 1,523 — Capital contribution from GE Industrial to GE Capital (2,000) (4,000) — Other reclassifications and eliminations 675 782 706 Consolidated cash from (used for) financing activities $ (19,853) $ (15,764) $ (27,345) (a) Included the elimination of $14,677 million, $14,716 million and $20,675 million payments to GE Industrial for current receivables purchased and retained by GE Capital and the related reclassification to CFOA of $14,079 million, $15,797 million and $20,680 million due to GE Capital collections and other activity in our consolidated Statement of Cash Flows for the years ended December 31, 2020, 2019 and 2018, respectively. (b) Primarily included the reclassification of long-term receivables purchased and retained by GE Capital to current receivables.

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	REVENUES Total revenues(a) Intersegment revenues(b)(c) External revenues Years ended December 31 2020 2019 2018 2020 2019 2018 2020 2019 2018 Power $ 17,589 $ 18,625 $ 22,150 $ 352 $ 357 $ 152 $ 17,237 $ 18,267 $ 21,997 Renewable Energy 15,666 15,337 14,288 142 139 186 15,523 15,198 14,102 Aviation 22,042 32,875 30,566 1,445 758 375 20,597 32,117 30,191 Healthcare 18,009 19,942 19,784 1 — — 18,008 19,942 19,784 Capital 7,245 8,741 9,551 566 971 1,384 6,679 7,770 8,167 Corporate items and eliminations (932) (305) 673 (2,507) (2,225) (2,097) 1,575 1,920 2,770 Total $ 79,619 $ 95,214 $ 97,012 $ — $ — $ — $ 79,619 $ 95,214 $ 97,012 (a) Revenues of GE Industrial businesses include income from sales of goods and services to customers. (b) Sales from one component to another generally are priced at equivalent commercial selling prices. (c) The increase in intersegment revenues in 2020 at Aviation is primarily driven by higher sales to the Aeroderivative joint venture between our Power segment and Baker Hughes, partially offset by lower spare sales to our GECAS business.
Classification of Equipment and Services Revenues	The equipment and services revenues classification in the table below is consistent with our segment MD&A presentation. Years ended December 31 2020 2019 2018 Equipment Services Total Equipment Services Total Equipment Services Total Power $ 6,707 $ 10,883 $ 17,589 $ 6,247 $ 12,378 $ 18,625 $ 8,077 $ 14,073 $ 22,150 Renewable Energy 12,859 2,807 15,666 12,267 3,069 15,337 11,419 2,870 14,288 Aviation 8,582 13,460 22,042 12,737 20,138 32,875 11,499 19,067 30,566 Healthcare 9,992 8,017 18,009 11,585 8,357 19,942 11,422 8,363 19,784 Corporate items and industrial eliminations (520) 314 (206) 243 697 940 1,263 987 2,250 Total GE Industrial revenues $ 37,620 $ 35,480 $ 73,100 $ 43,080 $ 44,639 $ 87,719 $ 43,679 $ 45,359 $ 89,038 SEGMENT REVENUES Years ended December 31 2020 2019 2018 Gas Power $ 12,655 $ 13,122 $ 13,296 Power Portfolio 4,935 5,503 8,853 Power $ 17,589 $ 18,625 $ 22,150 Onshore Wind $ 10,881 $ 10,421 $ 8,220 Grid Solutions equipment and services 3,585 4,016 4,579 Hydro, Offshore Wind and Hybrid Solutions 1,200 900 1,489 Renewable Energy $ 15,666 $ 15,337 $ 14,288 Commercial Engines & Services $ 13,017 $ 24,217 $ 22,724 Military 4,572 4,389 4,103 Systems & Other 4,453 4,269 3,740 Aviation $ 22,042 $ 32,875 $ 30,566 Healthcare Systems $ 15,387 $ 14,648 $ 14,886 Pharmaceutical Diagnostics 1,792 2,005 1,888 BioPharma 830 3,289 3,010 Healthcare $ 18,009 $ 19,942 $ 19,784 Corporate items and industrial eliminations $ (206) $ 940 $ 2,250 Total GE Industrial revenues 73,100 87,719 89,038 Capital(a) $ 7,245 $ 8,741 $ 9,551 GE Capital-GE Industrial eliminations (726) (1,245) (1,577) Consolidated revenues $ 79,619 $ 95,214 $ 97,012 (a) Substantially all of our revenues at GE Capital are outside of the scope of ASC 606. Revenues are classified according to the region to which products and services are sold. For purposes of this analysis, the U.S. is presented separately from the remainder of the Americas. Year ended December 31, 2020 Power Renewable Energy Aviation Healthcare Capital Corporate items and eliminations Total U.S. $ 6,186 $ 7,846 $ 11,239 $ 7,611 $ 3,550 $ (1,117) $ 35,314 Non-U.S. Europe 2,895 3,047 4,288 3,952 1,395 155 15,733 Asia 3,961 2,640 3,920 4,719 997 (20) 16,216 Americas 1,483 819 882 879 639 (2) 4,701 Middle East and Africa 3,064 1,314 1,713 848 664 52 7,655 Total Non-U.S. $ 11,403 $ 7,820 $ 10,803 $ 10,398 $ 3,695 $ 185 $ 44,305 Total geographic revenues $ 17,589 $ 15,666 $ 22,042 $ 18,009 $ 7,245 $ (932) $ 79,619 Non-U.S. revenues as a % of consolidated revenues 65 % 50 % 49 % 58 % 51 % 56 % Year ended December 31, 2019 Power Renewable Energy Aviation Healthcare Capital Corporate items and eliminations Total U.S. $ 5,992 $ 7,413 $ 13,384 $ 8,526 $ 4,149 $ (93) $ 39,372 Non-U.S. Europe 3,140 2,925 7,452 4,132 1,577 (135) 19,092 Asia 4,018 2,737 6,641 5,436 1,454 (130) 20,156 Americas 1,915 1,064 1,593 1,056 742 (33) 6,336 Middle East and Africa 3,560 1,198 3,805 792 819 86 10,259 Total Non-U.S. $ 12,633 $ 7,924 $ 19,491 $ 11,416 $ 4,592 $ (212) $ 55,843 Total geographic revenues $ 18,625 $ 15,337 $ 32,875 $ 19,942 $ 8,741 $ (305) $ 95,214 Non-U.S. revenues as a % of consolidated revenues 68 % 52 % 59 % 57 % 53 % 59 % Year ended December 31, 2018 U.S. $ 7,456 $ 4,912 $ 12,529 $ 8,574 $ 5,282 $ 1,124 $ 39,876 Non-U.S. Europe 4,538 3,212 7,027 4,164 1,383 (496) 19,828 Asia 4,072 2,933 5,787 5,219 1,368 (79) 19,300 Americas 2,546 2,179 1,459 988 632 87 7,892 Middle East and Africa 3,538 1,052 3,764 839 886 37 10,117 Total Non-U.S. $ 14,694 $ 9,376 $ 18,037 $ 11,210 $ 4,269 $ (451) $ 57,136 Total geographic revenues $ 22,150 $ 14,288 $ 30,566 $ 19,784 $ 9,551 $ 673 $ 97,012 Non-U.S. revenues as a % of consolidated revenues 66 % 66 % 59 % 57 % 45 % 59 %
Reconciliation of Profit and Earnings to Consolidated	PROFIT AND EARNINGS For the years ended December 31 2020 2019 2018 Power $ 274 $ 291 $ (1,105) Renewable Energy (715) (791) 140 Aviation 1,229 6,812 6,454 Healthcare 3,060 3,737 3,522 Capital (1,710) (530) (489) Total segment profit 2,138 9,519 8,521 Corporate items and eliminations 8,239 (1,825) (2,201) GE Industrial goodwill impairments (877) (1,486) (22,136) GE Industrial interest and other financial charges (1,333) (2,115) (2,415) GE Industrial non-operating benefit costs (2,424) (2,828) (2,740) GE Industrial provision for income taxes (388) (1,309) (467) Earnings (loss) from continuing operations attributable to GE common shareholders 5,355 (44) (21,438) Earnings (loss) from discontinued operations, net of taxes (125) (5,335) (1,363) Less net earnings (loss) attributable to noncontrolling interests, discontinued operations — 60 1 Earnings (loss) from discontinued operations, net of taxes and noncontrolling interests (125) (5,395) (1,364) Consolidated net earnings (loss) attributable to GE common shareholders $ 5,230 $ (5,439) $ (22,802)
Disclosure of Operating Segment Interest and Financial Charges and Provision for Income Taxes	Interest and other financial charges Benefit (provision) for income taxes For the years ended December 31 2020 2019 2018 2020 2019 2018 Capital $ 2,186 $ 2,532 $ 2,982 $ 862 $ 582 $ 374 Corporate items and eliminations(a) 1,087 1,695 1,784 (388) (1,309) (467) Total $ 3,273 $ 4,227 $ 4,766 $ 474 $ (726) $ (93) (a) Included amounts for Power, Renewable Energy, Aviation and Healthcare, for which our measure of segment profit excludes interest and other financial charges and income taxes.
Assets, PPE Additions, and Depreciation and Amortization	Assets Property, plant and Depreciation and amortization(b) At December 31 For the years ended December 31 For the years ended December 31 2020 2019 2018 2020 2019 2018 2020 2019 2018 Power $ 24,453 $ 26,731 $ 27,389 $ 245 $ 277 $ 358 $ 749 $ 880 $ 1,307 Renewable Energy 15,927 15,935 16,400 302 455 303 413 425 474 Aviation 38,634 41,083 37,488 737 1,031 1,070 1,142 1,150 1,042 Healthcare 22,229 30,503 28,037 256 395 378 628 702 832 Capital(c) 113,526 117,546 119,329 1,765 3,830 4,569 2,590 2,083 2,163 Corporate items and eliminations(d) 35,151 29,269 18,043 (51) (175) (46) 494 355 763 Total continuing $ 249,920 $ 261,068 $ 246,686 $ 3,252 $ 5,813 $ 6,632 $ 6,018 $ 5,595 $ 6,582 (a) Additions to property, plant and equipment include amounts relating to principal businesses purchased. (b) Included amortization expense related to intangible assets. (c) Included Capital deferred income taxes that are presented as assets for purposes of our balance sheet presentation. (d) Included GE Industrial deferred income taxes that are presented as assets for purposes of our balance sheet presentation.
Assets by Geographic Areas	We classify certain assets that cannot meaningfully be associated with specific geographic areas as “Other Global” for this purpose. December 31 2020 2019 U.S. $ 148,963 $ 143,534 Non-U.S. Europe 58,301 70,565 Asia 20,630 22,089 Americas 10,795 13,435 Other Global 11,230 11,445 Total Non-U.S. $ 100,956 $ 117,534 Total assets (Continuing Operations) $ 249,920 $ 261,068

BAKER HUGHES SUMMARIZED FINAN_2

BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Associated Companies Summarized Financial Information	Equity method investment balance Equity method income (loss) December 31 2020 2019 2020 2019 2018 Power $ 576 $ 565 $ 43 $ (4) $ (20) Renewable Energy 724 630 13 (2) (1) Aviation 2,032 2,073 (41) 204 126 Healthcare 251 245 7 19 16 Capital(a) 3,110 2,159 77 217 (254) Corporate items and eliminations 31 28 5 (11) (99) Total consolidated $ 6,724 $ 5,700 $ 104 $ 423 $ (233) (a) Equity method investments in GE Capital increased $951 million driven primarily by an increase in renewable energy tax equity investments at Energy Financial Services (EFS) and an increase in investments in our run-off insurance operations. Summarized financial information of Baker Hughes is as follows. For the years ended December 31 2020 2019(a) Revenues $ 20,705 $ 7,751 Gross Profit 3,199 1,558 Net income (loss) (15,761) 120 Net income (loss) attributable to the entity (9,940) 60 (a) Financial information is from September 16, 2019 (date of deconsolidation) to December 31, 2019. As of December 31 2020 2019 Current $ 16,455 $ 15,222 Noncurrent 21,552 38,147 Total assets $ 38,007 $ 53,369 Current $ 10,227 $ 10,014 Noncurrent 9,538 8,857 Total liabilities $ 19,765 $ 18,871 Noncontrolling interests $ 5,349 $ 12,570

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues from Sale of Services (Details)	12 Months Ended
	Dec. 31, 2020
Satisfied Over Time
Revenue from External Customer [Line Items]
Performance obligation, description of timing	5 to 25 years

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Collaborative Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from External Customer [Line Items]
Cost of goods and services	$ 60,421	$ 66,911
Services
Revenue from External Customer [Line Items]
Cost of goods and services	18,380	21,009	$ 21,833
Goods
Revenue from External Customer [Line Items]
Cost of goods and services	42,041	45,902	47,570
Collaborative Arrangement | Services
Revenue from External Customer [Line Items]
Cost of goods and services	1,221	1,939	1,809
Collaborative Arrangement | Goods
Revenue from External Customer [Line Items]
Cost of goods and services	$ 2,279	$ 2,974	$ 3,097

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Restricted cash	$ 411	$ 589

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting Changes (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 92,247	$ 87,732
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses		221
Retained earnings		$ (175)

BUSINESSES HELD FOR SALE AND _3

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS - Assets and Liabilities of Businesses Held for Sale, Narrative (Details) - BioPharma Business - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Mar. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of business		$ 12,362
Disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration			$ 21,112
Consideration, cash			20,695
Consideration, pension liabilities assumed			$ 417
Cash payments associated with transaction	$ 185
Pre-tax gain on sale of business		12,362
Gain on sale, after tax		$ 11,213

BUSINESSES HELD FOR SALE AND _4

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS - Discontinued Operations, Narrative (Details) - USD ($) $ in Millions	Aug. 31, 2019	Feb. 25, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal before income taxes				$ (31)	$ (5,183)	$ 4
Gain (loss) on disposals, net of taxes				(32)	(5,675)	3
Baker Hughes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal before income taxes				(23)	(8,715)	0
Gain (loss) on disposals, net of taxes				(23)	(8,238)	0
Baker Hughes | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal before income taxes			$ (8,715)
Gain (loss) on disposals, net of taxes			$ (8,238)
Transportation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal before income taxes				(12)	3,471	0
Gain (loss) on disposals, net of taxes				(12)	$ 2,508	$ 0
Transportation | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal before income taxes		$ 3,471
Gain (loss) on disposals, net of taxes		$ 2,508
Baker Hughes | Baker Hughes | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest (as a percentage)	50.20%
Ownership interest (as a percentage)			36.80%
Baker Hughes excluding joint venture | Investee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales of products and services				839
Net cash collected from affiliate				855
Purchases of products and services				216
Baker Hughes | Investee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Dividends received				267
Baker Hughes | Notes Payable, Other Payables | Baker Hughes Promissory Note | Investee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash collected from affiliate				204
Baker Hughes | Aeroderivative Joint Venture | Investee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales of products and services				563
Net cash collected from affiliate				$ 603

BUSINESSES HELD FOR SALE AND _5

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS - Financial Information for Discontinued Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operations
Sales of goods and services	$ 0	$ 16,598	$ 26,757
GE Capital revenues and other income (loss)	55	33	(1,347)
Cost of goods and services sold	0	(13,795)	(22,007)
Other income, costs and expenses	(249)	(2,650)	(4,360)
Earnings (loss) of discontinued operations before income taxes	(195)	186	(958)
Benefit (provision) for income taxes	101	153	(408)
Earnings (loss) from discontinued operations, net of taxes	(93)	339	(1,366)
Disposals
Gain (loss) on disposals before income taxes	(31)	(5,183)	4
Benefit (provision) for income taxes	(1)	(491)	(1)
Gain (loss) on disposals, net of taxes	(32)	(5,675)	3
Earnings (loss) from discontinued operations, net of taxes	(125)	(5,335)	(1,363)
Earnings (loss) of discontinued operations attributable to the Company after income taxes	(94)	279	(1,367)
Baker Hughes
Operations
Sales of goods and services	0	16,047	22,859
GE Capital revenues and other income (loss)	0	0	0
Cost of goods and services sold	0	(13,317)	(19,198)
Other income, costs and expenses	2	(2,390)	(3,346)
Earnings (loss) of discontinued operations before income taxes	2	340	315
Benefit (provision) for income taxes	(13)	(176)	(347)
Earnings (loss) from discontinued operations, net of taxes	(10)	165	(33)
Disposals
Gain (loss) on disposals before income taxes	(23)	(8,715)	0
Benefit (provision) for income taxes	0	477	0
Gain (loss) on disposals, net of taxes	(23)	(8,238)	0
Earnings (loss) from discontinued operations, net of taxes	(33)	(8,074)	(33)
Transportation and Other
Operations
Sales of goods and services	0	550	3,898
GE Capital revenues and other income (loss)	0	0	0
Cost of goods and services sold	0	(478)	(2,809)
Other income, costs and expenses	0	(19)	(607)
Earnings (loss) of discontinued operations before income taxes	0	53	482
Benefit (provision) for income taxes	9	(15)	(143)
Earnings (loss) from discontinued operations, net of taxes	9	39	339
Disposals
Gain (loss) on disposals before income taxes	(12)	3,471	0
Benefit (provision) for income taxes	0	(963)	0
Gain (loss) on disposals, net of taxes	(12)	2,508	0
Earnings (loss) from discontinued operations, net of taxes	(3)	2,547	339
GE Capital
Operations
Sales of goods and services	0	0	0
GE Capital revenues and other income (loss)	55	33	(1,347)
Cost of goods and services sold	0	0	0
Other income, costs and expenses	(252)	(240)	(407)
Earnings (loss) of discontinued operations before income taxes	(197)	(207)	(1,755)
Benefit (provision) for income taxes	105	344	82
Earnings (loss) from discontinued operations, net of taxes	(92)	136	(1,673)
Disposals
Gain (loss) on disposals before income taxes	3	61	4
Benefit (provision) for income taxes	(1)	(5)	(1)
Gain (loss) on disposals, net of taxes	2	56	3
Earnings (loss) from discontinued operations, net of taxes	$ (90)	$ 192	$ (1,670)

BUSINESSES HELD FOR SALE AND _6

BUSINESSES HELD FOR SALE AND DISCONTINUED OPERATIONS - Financial Information for Assets and Liabilities (Details) - Discontinued Operations - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash, cash equivalents and restricted cash	$ 524	$ 638
Investment securities	0	202
Current receivables	61	81
Financing receivables held for sale (Polish mortgage portfolio)	2,437	2,485
Property, plant and equipment - net	109	123
Deferred income taxes	199	264
All other assets	202	317
Assets of discontinued operations	3,532	4,109
Liabilities
Accounts payable & Progress collections and deferred income	20	40
All other liabilities	180	163
Liabilities of discontinued operations	200	203
GE Capital Exit Plan
Liabilities
Intercompany tax receivables	704	$ 839
GE Capital
Assets
Assets of discontinued operations	3,388
Liabilities
Liabilities of discontinued operations	$ 61

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt and Equity Securities, FV-NI [Line Items]
Equity (Baker Hughes)	$ 7,319	$ 9,888
Current investment securities	7,319	9,888
Equity securities	218	136
Non-current investment securities, amortized cost	34,313	32,928
Non-current investment securities, gross unrealized gains	8,342	5,736
Non-current investment securities, gross unrealized losses	(106)	(31)
Non-current investment securities, estimated fair value	42,549	38,632
Amortized cost	41,632	42,816
Gross unrealized gains	8,342	5,736
Gross unrealized losses	(106)	(31)
Estimated fair value	49,868	48,521
U.S. corporate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost	23,604	23,037
Gross unrealized gains	6,651	4,636
Gross unrealized losses	(26)	(11)
Estimated fair value	30,230	27,661
Non-U.S. corporate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost	2,283	2,161
Gross unrealized gains	458	260
Gross unrealized losses	(1)	(1)
Estimated fair value	2,740	2,420
State and municipal
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost	3,387	3,086
Gross unrealized gains	878	598
Gross unrealized losses	(9)	(15)
Estimated fair value	4,256	3,669
Mortgage and asset-backed
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost	3,652	3,117
Gross unrealized gains	171	116
Gross unrealized losses	(71)	(4)
Estimated fair value	3,752	3,229
Government and agencies
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost	1,169	1,391
Gross unrealized gains	184	126
Gross unrealized losses	0	0
Estimated fair value	$ 1,353	$ 1,516

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest	$ 414
Total debt securities in unrealized loss position	1,765	$ 999
Estimated fair value, 12 months or more	165	274
Gross unrealized losses, 12 months or more	(20)	(20)
Gross unrealized losses	(106)	(31)
Net unrealized gains (losses) recorded to earnings	(1,670)	800
Proceeds from investment securities sales and early redemptions by issuers	5,060	7,967	$ 3,222
Debt and equity securities, realized gain	177	115	249
Debt and equity securities, realized losses	(364)	(203)	$ (41)
Equity securities without readily determinable fair values	285	517
Fair value adjustments, including impairments	(161)
U.S. corporate
Debt and Equity Securities, FV-NI [Line Items]
Gross unrealized losses	(26)	$ (11)
CMBS
Debt and Equity Securities, FV-NI [Line Items]
Gross unrealized losses	$ (70)

INVESTMENT SECURITIES - Net (Pu

INVESTMENT SECURITIES - Net (Purchases) Dispositions of Investment Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Net (purchases) dispositions of GE Capital investment securities	$ (1,352)	$ (1,616)	$ 2,534
GE Capital
Marketable Securities [Line Items]
Purchases of investment securities	(6,031)	(6,205)
Dispositions and maturities of investment securities	4,679	4,589
Net (purchases) dispositions of GE Capital investment securities	$ (1,352)	$ (1,616)	$ 2,534

INVESTMENT SECURITIES - Contrac

INVESTMENT SECURITIES - Contractual Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
Amortized cost
Within one year	$ 494
After one year through five years	2,781
After five years through ten years	6,390
After ten years	20,778
Estimated fair value
Within one year	501
After one year through five years	3,070
After five years through ten years	7,687
After ten years	$ 27,321

CURRENT AND LONG-TERM RECEIVA_3

CURRENT AND LONG-TERM RECEIVABLES - Schedule of Current Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	$ 13,459	$ 12,594
Sundry receivables	4,395	4,848
Allowance for losses	(1,164)	(874)
Total current receivables	16,691	16,568
DPP balance	413	421
Increase in allowance for credit losses	274
GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	9,841	9,507
Sundry receivables	4,763	5,047
Allowance for losses	(1,161)	(872)
Total current receivables	13,442	13,682
Operating segments | Power
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	3,995	4,689
Operating segments | Power | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	2,656	3,289
Operating segments | Renewable Energy
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	2,401	2,306
Operating segments | Renewable Energy | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	1,903	1,749
Operating segments | Aviation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	4,417	3,249
Operating segments | Aviation | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	3,490	2,867
Operating segments | Healthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	2,336	2,105
Operating segments | Healthcare | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	1,498	1,379
Corporate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	310	246
Corporate | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	293	223
Boeing | Operating segments | Aviation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	$ 448	$ 1,397

CURRENT AND LONG-TERM RECEIVA_4

CURRENT AND LONG-TERM RECEIVABLES - Sales of GE Industrial Current Customer Receivables, Narrative (Details) - GE Industrial - Current Receivables - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of receivables sold	40.00%	51.00%
Costs recognized	$ 264	$ 515

CURRENT AND LONG-TERM RECEIVA_5

CURRENT AND LONG-TERM RECEIVABLES - Sales of GE Industrial Current Customer Receivables (Details) - GE Industrial - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current Receivables | GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	$ 3,087	$ 4,386
GE sales	32,869	40,988
GE Capital sales to third parties	(18,654)	(28,073)
Collections and other	(14,004)	(14,621)
Reclassification from long-term customer receivables	321	407
Balance at end of period	3,618	3,087
Current Receivables | Third Parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	6,757	7,880
GE sales	863	5,286
GE Capital sales to third parties	18,654	28,073
Collections and other	(23,283)	(34,482)
Reclassification from long-term customer receivables	0	0
Balance at end of period	2,992	6,757
Current Receivables with Recourse | GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	539
Balance at end of period	$ 505	$ 539

CURRENT AND LONG-TERM RECEIVA_6

CURRENT AND LONG-TERM RECEIVABLES - Schedule of Long-term Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term customer receivables	$ 585	$ 906
Long-term sundry receivables	1,748	1,705
Allowance for losses	(142)	(128)
Total long-term receivables	2,191	2,483
GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term customer receivables	474	506
Long-term sundry receivables	2,097	2,035
Allowance for losses	(142)	(128)
Total long-term receivables	2,430	2,413
GE Industrial | GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total long-term receivables	111	400
GE Industrial | GE Capital | Noncurrent Receivables with Recourse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables	$ 98	$ 312

CURRENT AND LONG-TERM RECEIVA_7

CURRENT AND LONG-TERM RECEIVABLES - Unconsolidated Receivables Facilities (Details)	12 Months Ended
	Dec. 31, 2020USD ($)receivable_facility	Dec. 31, 2019USD ($)
GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of receivables facility | receivable_facility	2
GE Capital | First facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Facility program size	$ 2,000,000,000	$ 3,100,000,000
GE Capital | Second facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Facility program size		1,200,000,000
Third Parties | GE Industrial | Current Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables sold to receivables facilities	13,591,000,000	21,695,000,000
Total cash purchase price for customer receivables	13,031,000,000	21,202,000,000
Cash collections re-invested to purchase customer receivables	11,567,000,000	18,012,000,000
Non-cash increases to deferred purchase price	481,000,000	257,000,000
Cash payments received on deferred purchase price	$ 489,000,000	$ 303,000,000

CURRENT AND LONG-TERM RECEIVA_8

CURRENT AND LONG-TERM RECEIVABLES - Consolidated Securitization Entities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)entity	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets	$ 253,452	$ 265,177
Liabilities	216,378	235,316
Consolidated VIEs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets	1,888	1,740
Liabilities	$ 812	943
Consolidated VIEs | GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of VIEs | entity	3
Consolidated VIEs | GE Capital | Receivables | Current Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets	$ 1,489	2,080
Consolidated VIEs | GE Capital | Receivables | Noncurrent Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets	93	375
Consolidated VIEs | GE Capital | Debt | Debt Facilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liabilities	$ 892	$ 1,655

FINANCING RECEIVABLES AND ALL_3

FINANCING RECEIVABLES AND ALLOWANCES - Financing Receivables, Net (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current financing receivables - net	$ 1,265	$ 1,077
Non-current financing receivables - net	1,771	2,057
Financing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of deferred income	1,300	1,098
Allowance for losses	(36)	(21)
Current financing receivables - net	1,265	1,077
Investment in financing leases, net of deferred income	1,805	2,070
Allowance for losses	(34)	(12)
Non-current financing receivables - net	1,771	2,057
Total financing receivables – net	3,036	3,134
GE Capital | Financing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of deferred income	5,124	4,927
Allowance for losses	(13)	(5)
Current financing receivables - net	5,110	4,922
Investment in financing leases, net of deferred income	1,805	2,070
Allowance for losses	(34)	(12)
Non-current financing receivables - net	1,771	2,057
Total financing receivables – net	$ 6,882	$ 6,979

FINANCING RECEIVABLES AND ALL_4

FINANCING RECEIVABLES AND ALLOWANCES - Net Investment in Financing Leases (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Total Financing Leases
Total minimum lease payments receivable	$ 1,202	$ 1,628
Less principal and interest on third-party non-recourse debt	(83)	(216)
Net minimum lease payments receivable	1,119	1,412
Less deferred income	(133)	(178)
Discounted lease receivable	986	1,234
Estimated unguaranteed residual value of leased assets, net of deferred income	819	835
Investment in financing leases, net of deferred income	1,805	2,070
Direct financing and sales type leases
Total minimum lease payments receivable	654	799
Less deferred income	(99)	(139)
Discounted lease receivable	556	660
Estimated unguaranteed residual value of leased assets, net of deferred income	472	412
Investment in financing leases, net of deferred income	1,028	1,072
Leveraged leases
Total minimum lease payments receivable	548	829
Less principal and interest on third-party non-recourse debt	(83)	(216)
Net minimum lease payments receivable	465	613
Less deferred income	(34)	(39)
Discounted lease receivable	431	574
Estimated unguaranteed residual value of leased assets, net of deferred income	347	423
Investment in financing leases, net of deferred income	777	997
Investment in sales type leases	$ 506	$ 506

FINANCING RECEIVABLES AND ALL_5

FINANCING RECEIVABLES AND ALLOWANCES - Cash Flows Associated with Financing Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net decrease (increase) in GE Capital financing receivables	$ (20)	$ 1,117	$ 1,796
GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase in loans to customers	(15,155)	(15,022)
Principal collections from customers - loans	15,311	18,083
Sales of financing receivables and other	42	328
Net decrease (increase) in GE Capital financing receivables	$ 199	$ 3,389	$ 9,986

FINANCING RECEIVABLES AND ALL_6

FINANCING RECEIVABLES AND ALLOWANCES - Contractual Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
Total loans
Due in
2021	$ 4,199
2022	261
2023	142
2024	134
2025	318
Thereafter	68
Total	5,124
Net minimum lease payments receivable
Due in
2021	294
2022	200
2023	281
2024	193
2025	68
Thereafter	83
Total	$ 1,119

FINANCING RECEIVABLES AND ALL_7

FINANCING RECEIVABLES AND ALLOWANCES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance lease income	$ 144	$ 173	$ 275
Financing receivables portfolio | GE Capital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, over 30 days past due (as a percent)	5.70%	4.20%
Financing receivables, over 90 days past due (as a percent)	5.00%	2.90%
Financing receivables, nonaccrual status (as a percent)	5.30%	6.10%

INVENTORIES, INCLUDING DEFERR_3

INVENTORIES, INCLUDING DEFERRED INVENTORY COSTS (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and work in process	$ 7,937	$ 8,771
Finished goods	5,654	5,333
Deferred inventory costs	2,299	3,111
Inventories, including deferred inventory costs	$ 15,890	$ 17,215

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Schedule of Property, Plant and Equipment and Depreciable Lives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Original Cost	$ 75,927	$ 74,880
Net Carrying Value	44,662	45,879
Property, plant and equipment - net	44,662	45,879
Eliminations
Property, Plant and Equipment [Line Items]
Original Cost	(1,282)	(1,279)
Property, plant and equipment - net	(1,372)	(1,453)
GE Industrial | Reportable Legal Entities
Property, Plant and Equipment [Line Items]
Original Cost	31,751	30,680
ROU assets	2,798	3,077
Property, plant and equipment - net	$ 16,433	17,447
GE Industrial | Reportable Legal Entities | Land and improvements
Property, Plant and Equipment [Line Items]
Depreciable lives	8 years
Original Cost	$ 599	608
Net Carrying Value	589	596
GE Industrial | Reportable Legal Entities | Buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Original Cost	8,210	7,824
Net Carrying Value	$ 3,828	3,875
GE Industrial | Reportable Legal Entities | Buildings, structures and related equipment | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	8 years
GE Industrial | Reportable Legal Entities | Buildings, structures and related equipment | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	40 years
GE Industrial | Reportable Legal Entities | Machinery and equipment
Property, Plant and Equipment [Line Items]
Original Cost	$ 20,915	20,082
Net Carrying Value	$ 7,869	8,360
GE Industrial | Reportable Legal Entities | Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	4 years
GE Industrial | Reportable Legal Entities | Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	20 years
GE Industrial | Reportable Legal Entities | Leasehold costs and manufacturing plant under construction
Property, Plant and Equipment [Line Items]
Original Cost	$ 2,028	2,165
Net Carrying Value	$ 1,350	1,539
GE Industrial | Reportable Legal Entities | Leasehold costs and manufacturing plant under construction | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	1 year
GE Industrial | Reportable Legal Entities | Leasehold costs and manufacturing plant under construction | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	10 years
GE Capital
Property, Plant and Equipment [Line Items]
Net Carrying Value	$ 29,600	29,886
GE Capital | Reportable Legal Entities
Property, Plant and Equipment [Line Items]
Original Cost	45,458	45,480
ROU assets	189	237
Property, plant and equipment - net	29,600	29,886
GE Capital | Reportable Legal Entities | Land and improvements, buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Original Cost	144	149
Net Carrying Value	$ 23	29
GE Capital | Reportable Legal Entities | Land and improvements, buildings, structures and related equipment | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	1 year
GE Capital | Reportable Legal Entities | Land and improvements, buildings, structures and related equipment | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	40 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Aircraft
Property, Plant and Equipment [Line Items]
Original Cost	$ 34,372	35,507
Net Carrying Value	$ 20,931	21,414
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Aircraft | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	15 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Aircraft | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	20 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Engines
Property, Plant and Equipment [Line Items]
Original Cost	$ 4,957	4,113
Net Carrying Value	$ 3,540	3,283
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Engines | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	15 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Engines | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	20 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Helicopters
Property, Plant and Equipment [Line Items]
Original Cost	$ 5,750	5,474
Net Carrying Value	$ 4,724	4,709
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Helicopters | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	15 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Helicopters | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	20 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Other
Property, Plant and Equipment [Line Items]
Original Cost	$ 235	237
Net Carrying Value	$ 194	214
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Other | Minimum
Property, Plant and Equipment [Line Items]
Depreciable lives	15 years
GE Capital | Reportable Legal Entities | Equipment Leased to Other Party, Other | Maximum
Property, Plant and Equipment [Line Items]
Depreciable lives	35 years
GE Industrial | GE Capital | Equipment leased to others (ELTO)
Property, Plant and Equipment [Line Items]
Original Cost	$ 1,475	1,539
Accumulated amortization	$ (306)	$ (251)

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization related to property, plant and equipment		$ 4,636	$ 4,026	$ 4,419
Operating lease income		3,342	3,804	4,075
Fixed lease income		2,834	3,045	3,243
Variable lease income		$ 508	$ 759	832
Operating Lease, Liability, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Operating lease liabilities		$ 2,973	$ 3,162
Remaining lease terms		11 years
Industrial segment
Property, Plant and Equipment [Line Items]
Operating lease liabilities		$ 3,133	3,369
Power
Property, Plant and Equipment [Line Items]
Pre-tax impairments	$ 316
Assets Leased to Others | Capital | GECAS
Property, Plant and Equipment [Line Items]
Pre-tax impairments		542	74
GE Industrial | Equipment leased to others (ELTO) | GE Capital
Property, Plant and Equipment [Line Items]
Depreciation and amortization related to property, plant and equipment		$ 2,527	$ 2,019	$ 2,089

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Schedule of Noncancellable Future Rentals Due (Details) $ in Millions	Dec. 31, 2020USD ($)
Due in
2021	$ 2,833
2022	2,451
2023	2,072
2024	1,970
2025	1,658
Thereafter	5,316
Total	$ 16,300

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Operating Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Long-term (fixed)	$ 745	$ 834	$ 966
Long-term (variable)	118	136	177
Short-term	209	206	133
Total operating lease expense	$ 1,072	$ 1,176	$ 1,276

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
2021	$ 727
2022	648
2023	549
2024	437
2025	267
Thereafter	805
Total undiscounted lease payments	3,433
Less: imputed interest	(460)
Operating lease liabilities	$ 2,973	$ 3,162

PROPERTY, PLANT AND EQUIPMENT_8

PROPERTY, PLANT AND EQUIPMENT AND OPERATING LEASES - Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Operating cash flows used for operating leases	$ 766	$ 888
Right-of-use assets obtained in exchange for new lease liabilities	$ 600	$ 746
Weighted-average remaining lease term	6 years 7 months 6 days	6 years 10 months 24 days
Weighted-average discount rate	4.50%	4.90%

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Goodwill Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill
Balance at beginning of period	$ 26,734	$ 33,974
Dispositions		(5,597)
Acquisitions	90
Impairments	(1,717)	(1,486)	$ (22,136)
Currency exchange and other	417	(156)
Balance at end of period	25,524	26,734	33,974
Power
Goodwill
Balance at beginning of period	145	139
Dispositions		0
Acquisitions	0
Impairments	0	0
Currency exchange and other	0	6
Balance at end of period	146	145	139
Renewable Energy
Goodwill
Balance at beginning of period	3,290	4,730
Dispositions		0
Acquisitions	0
Impairments	0	(1,486)
Currency exchange and other	111	46
Balance at end of period	3,401	3,290	4,730
Aviation
Goodwill
Balance at beginning of period	9,859	9,839
Dispositions		0
Acquisitions	0
Impairments	(877)	0
Currency exchange and other	266	20
Balance at end of period	9,247	9,859	9,839
Healthcare
Goodwill
Balance at beginning of period	11,728	17,226
Dispositions		(5,558)
Acquisitions	89
Impairments	0	0
Currency exchange and other	37	60
Balance at end of period	11,855	11,728	17,226
Capital
Goodwill
Balance at beginning of period	839	904
Dispositions		(39)
Acquisitions	0
Impairments	(839)	0
Currency exchange and other	0	(26)
Balance at end of period	0	839	904
Corporate
Goodwill
Balance at beginning of period	873	1,136
Dispositions		0
Acquisitions	0
Impairments	0	0
Currency exchange and other	2	(262)
Balance at end of period	$ 876	$ 873	$ 1,136

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2015
Goodwill [Line Items]
Goodwill			$ 25,524	$ 26,734	$ 33,974
Goodwill decrease				7,240
Goodwill impairments			1,717	1,486	22,136
Amortization of intangible assets			1,382	1,569	2,163
Additions to intangible assets			$ 420
Weighted-average amortizable period (in years)			5 years 10 months 24 days
Hydro
Goodwill [Line Items]
Goodwill impairments				742
Additive
Goodwill [Line Items]
Goodwill			$ 243
Grid Solutions equipment and services
Goodwill [Line Items]
Goodwill impairments				744
GECAS | Operating segments | Milestone Aviation
Goodwill [Line Items]
Goodwill						$ 729
Power
Goodwill [Line Items]
Goodwill			146	145	139
Non-cash impairment charge of intangibles	$ 113		113	103	428
Goodwill impairments			0	0
Renewable Energy
Goodwill [Line Items]
Goodwill			3,401	3,290	4,730
Goodwill impairments			0	1,486
Healthcare
Goodwill [Line Items]
Goodwill			11,855	11,728	17,226
Goodwill impairments			0	0
Aviation
Goodwill [Line Items]
Goodwill			9,247	9,859	9,839
Goodwill impairments			877	0
Aviation | Additive | Operating segments
Goodwill [Line Items]
Non-cash impairment charge of intangibles		$ 877
Capital
Goodwill [Line Items]
Goodwill			0	839	$ 904
Goodwill impairments			839	0
Capital | GECAS | Operating segments
Goodwill [Line Items]
Non-cash impairment charge of intangibles		$ 839
Capitalized software
Goodwill [Line Items]
Additions to intangible assets			$ 360
Weighted-average amortizable period (in years)			5 years 2 months 12 days
Discontinued Operations, Held-for-sale | BioPharma Business | Healthcare
Goodwill [Line Items]
Goodwill transfers				$ 5,548

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 21,657	$ 21,510
Accumulated amortization	(11,883)	(10,857)
Net	9,774	10,653
Customer-related
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,862	6,770
Accumulated amortization	(3,432)	(3,070)
Net	$ 3,430	3,701
Customer-related | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	3 years
Customer-related | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	30 years
Patents and technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 8,191	8,180
Accumulated amortization	(4,135)	(3,730)
Net	$ 4,056	4,450
Patents and technology | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	2 years
Patents and technology | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	25 years
Capitalized software
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 5,826	5,822
Accumulated amortization	(3,840)	(3,651)
Net	$ 1,986	2,171
Capitalized software | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	3 years
Capitalized software | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	10 years
Trademarks & other
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 778	737
Accumulated amortization	(477)	(406)
Net	$ 301	$ 332
Trademarks & other | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	3 years
Trademarks & other | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	50 years

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated 5 Year Amortization (Details) $ in Millions	Dec. 31, 2020USD ($)
Estimated annual pre-tax amortization
2021	$ 1,162
2022	1,085
2023	992
2024	889
2025	$ 817

CONTRACT AND OTHER DEFERRED A_3

CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Decrease in contract and other deferred assets	$ 1,474
Revenue recognized included in contract liability	12,314	$ 11,020
Aviation | GE Industrial | Operating segments
Segment Reporting Information [Line Items]
Early payments received			$ 708
Aviation and Renewable Energy Segments
Segment Reporting Information [Line Items]
Progress collections and deferred income increased	72
Long-term service agreements | Services Revenues
Segment Reporting Information [Line Items]
Net unfavorable change in estimated profitability	(9,571)
Revenues recognized for contract	8,971
Long-term service agreements | Aviation | Services Revenues
Segment Reporting Information [Line Items]
Net unfavorable change in estimated profitability	(1,100)
Non-cash pre-tax charge	587
Long-term service agreements | Power | Services Revenues
Segment Reporting Information [Line Items]
Net unfavorable change in estimated profitability	$ (229)

CONTRACT AND OTHER DEFERRED A_4

CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME - Schedule of Contract Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	$ (1,801)	$ (1,555)
GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(1,801)	(1,555)
Operating segments | GE Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(1,801)	(1,555)
Total contract assets	5,764	7,390
Nonrecurring engineering costs	2,490	2,391
Customer advances and other	3,398	3,346
Non-current contract and other deferred assets	5,888	5,737
Contract and other deferred assets	11,653	13,127
Operating segments | GE Industrial | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	8,354	9,822
Billings in excess of revenues	(7,015)	(6,476)
Operating segments | GE Industrial | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	3,707	3,327
Operating segments | GE Industrial | Power
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(116)	(31)
Total contract assets	5,786	5,569
Nonrecurring engineering costs	16	44
Customer advances and other	822	909
Non-current contract and other deferred assets	838	953
Contract and other deferred assets	6,623	6,522
Operating segments | GE Industrial | Power | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	5,282	5,342
Billings in excess of revenues	(1,640)	(1,561)
Operating segments | GE Industrial | Power | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	2,015	1,599
Operating segments | GE Industrial | Aviation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(898)	(874)
Total contract assets	(1,963)	(37)
Nonrecurring engineering costs	2,409	2,257
Customer advances and other	2,481	2,313
Non-current contract and other deferred assets	4,889	4,570
Contract and other deferred assets	2,927	4,533
Operating segments | GE Industrial | Aviation | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	3,072	4,480
Billings in excess of revenues	(5,375)	(4,914)
Operating segments | GE Industrial | Aviation | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	59	82
Operating segments | GE Industrial | Renewable Energy
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(214)	(144)
Total contract assets	1,233	1,260
Nonrecurring engineering costs	34	47
Customer advances and other	0	0
Non-current contract and other deferred assets	34	47
Contract and other deferred assets	1,268	1,307
Operating segments | GE Industrial | Renewable Energy | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	0	0
Billings in excess of revenues	0	0
Operating segments | GE Industrial | Renewable Energy | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	1,127	1,217
Operating segments | GE Industrial | Healthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(564)	(467)
Total contract assets	479	492
Nonrecurring engineering costs	31	35
Customer advances and other	128	156
Non-current contract and other deferred assets	159	190
Contract and other deferred assets	638	683
Operating segments | GE Industrial | Healthcare | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	0	0
Billings in excess of revenues	0	0
Operating segments | GE Industrial | Healthcare | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	306	324
Operating segments | GE Industrial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billings in excess of revenues	(10)	(39)
Total contract assets	229	106
Nonrecurring engineering costs	0	8
Customer advances and other	(32)	(32)
Non-current contract and other deferred assets	(32)	(24)
Contract and other deferred assets	197	82
Operating segments | GE Industrial | Other | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues in excess of billings	0	0
Billings in excess of revenues	0	0
Operating segments | GE Industrial | Other | Equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	201	106
Long-term service agreements | Operating segments | GE Industrial | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	1,338	3,346
Long-term service agreements | Operating segments | GE Industrial | Power | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	3,642	3,781
Long-term service agreements | Operating segments | GE Industrial | Aviation | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	(2,304)	(435)
Long-term service agreements | Operating segments | GE Industrial | Renewable Energy | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	0	0
Long-term service agreements | Operating segments | GE Industrial | Healthcare | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	0	0
Long-term service agreements | Operating segments | GE Industrial | Other | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	0	0
Short-term duration contracts | Operating segments | GE Industrial | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	719	717
Short-term duration contracts | Operating segments | GE Industrial | Power | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	129	190
Short-term duration contracts | Operating segments | GE Industrial | Aviation | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	282	316
Short-term duration contracts | Operating segments | GE Industrial | Renewable Energy | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	106	43
Short-term duration contracts | Operating segments | GE Industrial | Healthcare | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	173	169
Short-term duration contracts | Operating segments | GE Industrial | Other | Services Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total contract assets	$ 29	$ 0

CONTRACT AND OTHER DEFERRED A_5

CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME - Progress Collections and Deferred Income (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Line Items]
Progress collections and deferred income	$ 18,215	$ 18,389
Non-current deferred income	1,801	1,555
GE Industrial
Capitalized Contract Cost [Line Items]
Progress collections and deferred income	18,371	18,575
Non-current deferred income	1,801	1,555
Operating segments | GE Industrial
Capitalized Contract Cost [Line Items]
Progress collections	16,458	16,902
Current deferred income	1,757	1,487
Progress collections and deferred income	18,215	18,389
Non-current deferred income	1,801	1,555
Total progress collections and deferred income	20,016	19,944
Operating segments | GE Industrial | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	6,362	7,240
Operating segments | GE Industrial | Other
Capitalized Contract Cost [Line Items]
Progress collections	10,096	9,662
Operating segments | GE Industrial | Power
Capitalized Contract Cost [Line Items]
Progress collections	5,376	6,270
Current deferred income	17	18
Progress collections and deferred income	5,393	6,288
Non-current deferred income	116	31
Total progress collections and deferred income	5,509	6,319
Operating segments | GE Industrial | Power | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	4,918	5,857
Operating segments | GE Industrial | Power | Other
Capitalized Contract Cost [Line Items]
Progress collections	458	413
Operating segments | GE Industrial | Aviation
Capitalized Contract Cost [Line Items]
Progress collections	4,837	4,863
Current deferred income	132	90
Progress collections and deferred income	4,969	4,953
Non-current deferred income	898	874
Total progress collections and deferred income	5,867	5,827
Operating segments | GE Industrial | Aviation | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	214	115
Operating segments | GE Industrial | Aviation | Other
Capitalized Contract Cost [Line Items]
Progress collections	4,623	4,748
Operating segments | GE Industrial | Renewable Energy
Capitalized Contract Cost [Line Items]
Progress collections	5,834	5,461
Current deferred income	194	140
Progress collections and deferred income	6,028	5,602
Non-current deferred income	214	144
Total progress collections and deferred income	6,241	5,745
Operating segments | GE Industrial | Renewable Energy | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	1,229	1,268
Operating segments | GE Industrial | Renewable Energy | Other
Capitalized Contract Cost [Line Items]
Progress collections	4,604	4,193
Operating segments | GE Industrial | Healthcare
Capitalized Contract Cost [Line Items]
Progress collections	414	305
Current deferred income	1,309	1,180
Progress collections and deferred income	1,724	1,485
Non-current deferred income	564	467
Total progress collections and deferred income	2,288	1,952
Operating segments | GE Industrial | Healthcare | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	0	0
Operating segments | GE Industrial | Healthcare | Other
Capitalized Contract Cost [Line Items]
Progress collections	414	305
Operating segments | GE Industrial | Other
Capitalized Contract Cost [Line Items]
Progress collections	(4)	2
Current deferred income	105	59
Progress collections and deferred income	102	61
Non-current deferred income	10	39
Total progress collections and deferred income	112	100
Operating segments | GE Industrial | Other | Equipment contract
Capitalized Contract Cost [Line Items]
Progress collections	0	0
Operating segments | GE Industrial | Other | Other
Capitalized Contract Cost [Line Items]
Progress collections	$ (4)	$ 2

ALL OTHER ASSETS - Schedule of

ALL OTHER ASSETS - Schedule of All Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Entity Information [Line Items]
Long-term receivables (Note 4)	$ 2,191	$ 2,483
Other assets - Current	1,522	3,362
Other assets - Non-current	14,597	13,882
All other assets (Note 10)	16,119	17,244
Reportable Legal Entities
Entity Information [Line Items]
Other assets - Current	1,522	3,362
Other assets - Non-current	14,597	13,882
Eliminations
Entity Information [Line Items]
Other assets - Current	(334)	(426)
Other assets - Non-current	(419)	(160)
GE Industrial | Reportable Legal Entities
Entity Information [Line Items]
Prepaid taxes and deferred charges	368	610
Derivative instruments (Note 21)	440	211
Equity method and other investments	3,827	4,015
Long-term receivables (Note 4)	2,430	2,413
Other	27	31
Other assets - Current	835	852
Prepaid taxes and deferred charges	817	870
Other	874	449
Other assets - Non-current	7,948	7,748
GE Capital | Reportable Legal Entities
Entity Information [Line Items]
Derivative instruments (Note 21)	42	529
Equity method and other investments	3,199	2,227
Assets held for sale	871	2,294
Other	108	113
Other assets - Current	1,021	2,936
GECAS pre-delivery payments (Note 23)	2,871	2,934
Other	543	551
Other assets - Non-current	$ 7,068	$ 6,294

ALL OTHER ASSETS - Equity Metho

ALL OTHER ASSETS - Equity Method Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Entity Information [Line Items]
Equity method investment balance	$ 6,724	$ 5,700
Equity method income (loss)	104	423	$ (233)
Capital
Entity Information [Line Items]
Equity method investment balance	3,110	2,159
Equity method income (loss)	77	217	(254)
Increase in equity method investments	951
Operating segments | Industrial segment | Power
Entity Information [Line Items]
Equity method investment balance	576	565
Equity method income (loss)	43	(4)	(20)
Operating segments | Industrial segment | Renewable Energy
Entity Information [Line Items]
Equity method investment balance	724	630
Equity method income (loss)	13	(2)	(1)
Operating segments | Industrial segment | Aviation
Entity Information [Line Items]
Equity method investment balance	2,032	2,073
Equity method income (loss)	(41)	204	126
Operating segments | Industrial segment | Healthcare
Entity Information [Line Items]
Equity method investment balance	251	245
Equity method income (loss)	7	19	16
Corporate items and eliminations
Entity Information [Line Items]
Equity method investment balance	31	28
Equity method income (loss)	$ 5	$ (11)	$ (99)

BORROWINGS - Schedule of Borrow

BORROWINGS - Schedule of Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Short-term Borrowings
Amount	$ 4,778	$ 23,641
Eliminations	(3,033)	(3,140)
Long-term Borrowings
Amount	70,288	67,241
Eliminations	(16,780)	(17,038)
Total borrowings	75,067	90,882
GE Industrial
Short-term Borrowings
Amount	3,350	11,079
Long-term Borrowings
Amount	39,386	40,980
GE Industrial | Senior notes
Long-term Borrowings
Amount	$ 18,994	$ 14,762
Average Rate	2.90%	2.11%
GE Industrial | Senior notes assumed by GE
Long-term Borrowings
Amount	$ 18,178	$ 23,024
Average Rate	3.25%	4.17%
GE Industrial | Subordinated notes assumed by GE
Long-term Borrowings
Amount	$ 1,779	$ 2,871
Average Rate	3.28%	3.68%
GE Industrial | Other
Long-term Borrowings
Amount	$ 435	$ 324
GE Industrial | Commercial paper
Short-term Borrowings
Amount	$ 0	$ 3,008
Average Rate	0.00%	1.62%
GE Industrial | Current portion of long-term borrowings
Short-term Borrowings
Amount	$ 36	$ 766
Average Rate	5.03%	0.36%
GE Industrial | Current portion of long-term borrowings assumed by GE
Short-term Borrowings
Amount	$ 2,432	$ 5,473
Average Rate	3.49%	3.71%
GE Industrial | Other
Short-term Borrowings
Amount	$ 882	$ 1,832
GE Capital
Short-term Borrowings
Amount	4,461	15,702
Long-term Borrowings
Amount	47,683	43,299
GE Capital | Senior notes
Long-term Borrowings
Amount	$ 30,132	$ 25,371
Average Rate	3.41%	3.66%
GE Capital | Subordinated notes assumed by GE
Long-term Borrowings
Amount	$ 189	$ 178
GE Capital | Intercompany payable to GE
Long-term Borrowings
Amount	16,780	17,038
GE Capital | Other
Long-term Borrowings
Amount	582	626
GE Capital | Non-recourse borrowings of consolidated securitization entities
Long-term Borrowings
Amount	$ 0	$ 86
Non-recourse borrowings of consolidated securitization entities, Average Rate		2.82%
GE Capital | Current portion of long-term borrowings
Short-term Borrowings
Amount	$ 853	$ 11,226
Average Rate	1.72%	3.01%
GE Capital | Intercompany payable to GE
Short-term Borrowings
Amount	$ 2,432	$ 2,104
GE Capital | Other
Short-term Borrowings
Amount	283	804
GE Capital | Non-recourse borrowings of consolidated securitization entities
Short-term Borrowings
Amount	$ 892	$ 1,569
Long-term Borrowings
Non-recourse borrowings of consolidated securitization entities, Average Rate	0.81%	1.26%

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details) € in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Total interest payments on consolidated borrowings, 2021	$ 2,326,000,000		$ 2,326,000,000
Total interest payments on consolidated borrowings, 2022	2,210,000,000		2,210,000,000
Total interest payments on consolidated borrowings, 2023	2,072,000,000		2,072,000,000
Total interest payments on consolidated borrowings, 2024	2,006,000,000		2,006,000,000
Total interest payments on consolidated borrowings, 2025	1,932,000,000		1,932,000,000
GE Capital | Guaranteed Debt
Debt Instrument [Line Items]
Debt assumed	28,503,000,000		28,503,000,000		$ 34,683,000,000
GE Capital Exit Plan | GE Capital
Debt Instrument [Line Items]
Borrowings	22,390,000,000		22,390,000,000
Short-term borrowings	2,432,000,000		2,432,000,000
Long-term borrowings	19,957,000,000		19,957,000,000
GE Capital
Debt Instrument [Line Items]
Receivable from related parties	19,213,000,000		19,213,000,000
GE Industrial
Debt Instrument [Line Items]
Borrowings	23,523,000,000		23,523,000,000
GE Industrial | Intercompany Loan | GE Capital
Debt Instrument [Line Items]
Borrowings	3,177,000,000		3,177,000,000
Short-term borrowings	0		0
Long-term borrowings	3,177,000,000		3,177,000,000
Repayment of maturing intercompany loans		$ 7,500,000,000	9,049,000,000
GE-issued borrowings | GE Industrial
Debt Instrument [Line Items]
Borrowings	20,346,000,000		20,346,000,000
Senior unsecured debt | GE Industrial
Debt Instrument [Line Items]
Borrowings		4,228,000,000
Debt repurchase amount		4,237,000,000
Cash consideration paid		4,282,000,000
Loss on purchase of debt		63,000,000
Debt tender expenditures		9,000,000
Senior unsecured debt | Senior Unsecured Notes due 2027 | GE Industrial
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Debt interest rate		3.45%		3.45%
Senior unsecured debt | April 2020 Notes | GE Capital
Debt Instrument [Line Items]
Borrowings		$ 9,827,000,000
Cash consideration paid		9,950,000,000
Loss on purchase of debt		143,000,000
Debt tender expenditures		20,000,000
Senior unsecured debt | April 2020 Notes | GE Industrial
Debt Instrument [Line Items]
Aggregate principal amount		7,500,000,000
Senior unsecured debt | Senior Unsecured Notes due 2030 | GE Industrial
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,250,000,000
Debt interest rate		3.625%		3.625%
Senior unsecured debt | Senior Unsecured Notes due 2040 | GE Industrial
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,500,000,000
Debt interest rate		4.25%		4.25%
Senior unsecured debt | Senior Unsecured Notes due 2050 | GE Industrial
Debt Instrument [Line Items]
Aggregate principal amount		$ 3,750,000,000
Debt interest rate		4.35%		4.35%
Senior unsecured debt | 2.700% Senior Unsecured Notes due 2022 | GE Industrial
Debt Instrument [Line Items]
Debt interest rate		2.70%		2.70%
Debt repurchase amount		$ 2,046,000,000
Senior unsecured debt | 0.375% Senior Unsecured Notes due 2022 | GE Industrial
Debt Instrument [Line Items]
Debt interest rate		0.375%		0.375%
Debt repurchase amount		$ 1,011,000,000		€ 934
Senior unsecured debt | Senior Unsecured Notes due 2023 | GE Industrial
Debt Instrument [Line Items]
Debt interest rate		1.25%		1.25%
Debt repurchase amount		$ 460,000,000		€ 425
Senior unsecured debt | Floating-rate Senior Unsecured Notes due 2020 | GE Industrial
Debt Instrument [Line Items]
Debt repurchase amount		$ 407,000,000		€ 376
Senior unsecured debt | Senior Unsecured Notes due 2024 | GE Industrial
Debt Instrument [Line Items]
Debt interest rate		3.375%		3.375%
Debt repurchase amount		$ 312,000,000
Senior unsecured debt | Senior Unsecured Debt Due 2025 to 2032 | GE Capital
Debt Instrument [Line Items]
Aggregate principal amount		6,000,000,000
Senior unsecured debt | Purchased Notes | GE Capital
Debt Instrument [Line Items]
Borrowings	2,166,000,000		2,166,000,000
Debt repurchase amount	2,157,000,000	$ 9,787,000,000	2,157,000,000
Cash consideration paid	2,255,000,000
Loss on purchase of debt	95,000,000
Debt tender expenditures	$ 6,000,000		$ 6,000,000

BORROWINGS - Maturities of Borr

BORROWINGS - Maturities of Borrowings (Details) $ in Millions	Dec. 31, 2020USD ($)
Other Debt
Debt Instrument [Line Items]
Fixed and floating rate notes	$ 340
GE Industrial | Excluding Assumed Debt
Debt Instrument [Line Items]
2021	36
2022	2,016
2023	977
2024	477
2025	2,440
GE Industrial | Debt Assumed by GE
Debt Instrument [Line Items]
2021	2,432
2022	1,483
2023	1,977
2024	918
2025	237
GE Capital | Other Debt
Debt Instrument [Line Items]
2021	853
2022	1,469
2023	1,771
2024	142
2025	$ 3,477

INSURANCE LIABILITIES AND ANN_3

INSURANCE LIABILITIES AND ANNUITY BENEFITS - Schedule of Investment Contracts, Insurance Liabilities and Insurance Annuity Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Liability for Claims and Claims Adjustment Expense [Line Items]
Future policy benefit reserves	$ 34,482	$ 32,104
Claim reserves	5,736	5,615
Investment contracts	2,049	2,191
Unearned premiums and other	298	322
Future policy benefit reserves, investment contracts, claim reserves and unearned premiums and other	42,565	40,232
Eliminations	(374)	(406)
Total	42,191	39,826
Other adjustment	8,160	5,655
Long-term care insurance contracts
Liability for Claims and Claims Adjustment Expense [Line Items]
Future policy benefit reserves	16,934	16,755
Claim reserves	4,393	4,238
Investment contracts	0	0
Unearned premiums and other	19	30
Future policy benefit reserves, investment contracts, claim reserves and unearned premiums and other	21,346	21,023
Total	21,346	21,023
Structured settlement annuities & life insurance contracts
Liability for Claims and Claims Adjustment Expense [Line Items]
Future policy benefit reserves	9,207	9,511
Claim reserves	275	252
Investment contracts	1,034	1,136
Unearned premiums and other	189	196
Future policy benefit reserves, investment contracts, claim reserves and unearned premiums and other	10,705	11,095
Total	10,705	11,095
Other contracts
Liability for Claims and Claims Adjustment Expense [Line Items]
Future policy benefit reserves	181	183
Claim reserves	1,068	1,125
Investment contracts	1,016	1,055
Unearned premiums and other	89	96
Future policy benefit reserves, investment contracts, claim reserves and unearned premiums and other	2,354	2,459
Eliminations	(374)	(406)
Total	1,980	2,053
Short-term duration contracts | Other contracts
Liability for Claims and Claims Adjustment Expense [Line Items]
Claim reserves	$ 316	$ 342

INSURANCE LIABILITIES AND ANN_4

INSURANCE LIABILITIES AND ANNUITY BENEFITS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended			69 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Increase in insurance liabilities and annuity benefits					$ 2,365
Adjustment of insurance liabilities and annuity benefits					2,505
Claims incurred					1,801	$ 1,873	$ 2,106
Prior year claims					(1)	(36)	(46)
Paid claims					1,728	1,626	1,937
Reinsurance recoverables, allowances					1,510	1,355
Reinsurance recoveries					350	362	$ 324
Reinsurance recoverables, net of allowances					$ 2,552	2,416
Expected capital contributions						$ 14,500
Statutory capital levels to maintain					300.00%
GE Capital
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Capital contributions to insurance subsidiaries		$ 2,000	$ 1,900	$ 3,500
GE Capital | Scenario, Forecast
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Capital contributions to insurance subsidiaries	$ 2,000							$ 7,000

POSTRETIREMENT BENEFIT PLANS -

POSTRETIREMENT BENEFIT PLANS - Pension Benefits and Retiree Health and Life Benefits (Details)	12 Months Ended
	Dec. 31, 2020USD ($)category
Defined Benefit Plan Disclosure [Line Items]
Number of categories | category	3
Other pension
Defined Benefit Plan Disclosure [Line Items]
Assets or obligations of U.S. and non-U.S. pension plans (greater than) | $	$ 50,000,000

POSTRETIREMENT BENEFIT PLANS _2

POSTRETIREMENT BENEFIT PLANS - Description of Postretirement Benefit Plans (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2020employeeplan	Dec. 31, 2020USD ($)employeeplan
Principal pension | GE Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirees and beneficiaries covered	70,000	176,500
Number of vested former employees		93,000
Number of active employees		26,500
Frozen benefit plan, number of salaried employees | plan	20,000	20,000
Principal pension | GE Supplementary Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Frozen benefit plan, number of executive employees	700	700
Other pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirees and beneficiaries covered		56,500
Number of vested former employees		49,500
Number of active employees		20,000
Number of U.S. and non-U.S. pension plans | plan		44
Assets or obligations of U.S. and non-U.S. pension plans (greater than) | $		$ 50,000,000
Principal retiree benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirees and beneficiaries covered		170,000

POSTRETIREMENT BENEFIT PLANS _3

POSTRETIREMENT BENEFIT PLANS - Funding Status by Plan Type (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	$ 105,975,000	$ 99,837,000
Fair Value of Assets	80,483,000	72,064,000
Deficit/(Surplus)	25,492,000	27,773,000
Subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	90,738,000	84,972,000
Fair Value of Assets	80,126,000	71,539,000
Deficit/(Surplus)	10,612,000	13,433,000
Not subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	15,237,000	14,865,000
Fair Value of Assets	357,000	525,000
Deficit/(Surplus)	14,880,000	14,340,000
Principal pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	76,298,000	71,756,000	$ 68,500,000
Fair Value of Assets	58,843,000	52,633,000	50,009,000
Deficit/(Surplus)	17,455,000	19,123,000
Principal pension | GE Pension Plan | Subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	68,945,000	65,065,000
Fair Value of Assets	58,843,000	52,633,000
Deficit/(Surplus)	10,102,000	12,432,000
Principal pension | GE Supplementary Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	7,353,000	6,691,000
Principal pension | GE Supplementary Pension Plan | Not subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	7,353,000	6,691,000
Fair Value of Assets	0	0
Deficit/(Surplus)	7,353,000	6,691,000
Other pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	24,658,000	22,921,000	21,091,000
Fair Value of Assets	21,506,000	19,142,000	17,537,000
Deficit/(Surplus)	3,152,000	3,779,000
Other pension | Subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	21,793,000	19,907,000
Fair Value of Assets	21,283,000	18,906,000
Deficit/(Surplus)	510,000	1,001,000
Other pension | Not subject to regulatory funding requirements
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	2,865,000	3,014,000
Fair Value of Assets	223,000	236,000
Deficit/(Surplus)	2,642,000	2,778,000
Principal retiree benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation	5,019,000	5,160,000	5,153,000
Fair Value of Assets	134,000	289,000	$ 362,000
Deficit/(Surplus)	$ 4,885,000	$ 4,871,000

POSTRETIREMENT BENEFIT PLANS _4

POSTRETIREMENT BENEFIT PLANS - Funding (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Principal pension
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 2,806	$ 298
Other pension
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	509	716
Principal retiree benefit
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	295	$ 342
GE Pension Plan | Principal pension
Defined Benefit Plan Disclosure [Line Items]
Voluntary contribution	$ 2,500
Funded percentage, ERISA	94.00%	93.00%
Funded percentage	85.00%	81.00%
GE Supplementary Pension Plan | Principal pension
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions	$ 325
GE Supplementary Pension Plan | Other pension
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions	460
Employer contributions	$ 335

POSTRETIREMENT BENEFIT PLANS _5

POSTRETIREMENT BENEFIT PLANS - Actions (Details) - Principal pension $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)employee	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)employee	Dec. 31, 2019USD ($)	Oct. 31, 2019employee
Defined Benefit Plan Disclosure [Line Items]
Settlements | $			$ 1,706	$ 2,657
GE Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Settlements | $	$ 1,706	$ 2,657
Number of retirees and beneficiaries | employee	70,000		176,500
Former U.S. employees offered lump sum distribution option | employee					100,000

POSTRETIREMENT BENEFIT PLANS _6

POSTRETIREMENT BENEFIT PLANS - Cost of Benefits Plans and Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2019
Scenario, Forecast
Components of expense (income)
Net periodic expense (income)	$ 2,400
Weighted-average assumptions used to determine benefit cost
Decrease in net periodic benefit cost	$ 1,100
Principal pension
Components of expense (income)
Service cost		$ 657	$ 654	$ 888
Interest cost		2,350	2,780	2,658
Expected return on plan assets		(2,993)	(3,428)	(3,248)
Amortization of net actuarial loss (gain)		3,399	3,439	3,785
Amortization of prior service cost (credit)		146	135	143
Non-cash pre-tax curtailment loss		0	349	34
Non-operating		2,902	3,275	3,372
Net periodic expense (income)		3,559	3,929	4,260
Other pension
Components of expense (income)
Service cost		243	246	323
Interest cost		422	542	548
Expected return on plan assets		(1,082)	(1,144)	(1,285)
Amortization of net actuarial loss (gain)		434	319	312
Amortization of prior service cost (credit)		1	3	(9)
Non-cash pre-tax curtailment loss		12	13	1
Non-operating		(213)	(267)	(433)
Net periodic expense (income)		30	(21)	(110)
Principal retiree benefit
Components of expense (income)
Service cost		59	58	63
Interest cost		150	202	196
Expected return on plan assets		(11)	(21)	(29)
Amortization of net actuarial loss (gain)		(82)	(118)	(79)
Amortization of prior service cost (credit)		(234)	(232)	(230)
Non-cash pre-tax curtailment loss		0	(38)	0
Non-operating		(177)	(207)	(142)
Net periodic expense (income)		$ (118)	$ (149)	$ (79)
Weighted-average assumptions used to determine benefit obligations
Discount rate			3.24%		4.34%
Weighted-average assumptions used to determine benefit cost
Ultimate health care cost trend rate		5.00%
Weighted average | Principal pension
Weighted-average assumptions used to determine benefit obligations
Discount rate		2.61%	3.36%	4.34%
Compensation increases		2.95%	2.95%	3.60%
Weighted-average assumptions used to determine benefit cost
Discount rate		3.36%	4.07%	3.64%
Expected rate of return on plan assets		6.25%	6.75%	6.75%
Weighted average | Other pension
Weighted-average assumptions used to determine benefit obligations
Discount rate		1.44%	1.97%	2.75%
Compensation increases		3.06%	3.16%	3.16%
Weighted-average assumptions used to determine benefit cost
Discount rate		1.97%	2.75%	2.41%
Expected rate of return on plan assets		5.69%	6.76%	6.75%
Weighted average | Principal retiree benefit
Weighted-average assumptions used to determine benefit obligations
Discount rate		2.15%	3.05%	4.12%
Compensation increases		2.82%	3.75%	3.60%
Initial healthcare trend rate		5.90%	5.90%	6.00%
Weighted-average assumptions used to determine benefit cost
Discount rate		3.05%	4.12%	3.43%
Expected rate of return on plan assets		7.00%	7.00%	7.00%
GE Pension Plan | Principal pension
Weighted-average assumptions used to determine benefit cost
Expected rate of return on plan assets		6.25%	6.75%	6.75%
Change in mortality assumptions decreased benefit plan obligations		$ 180	$ 529
Increase in principal pension plan cost assuming 25 basis point decrease in discount rate		220
Increase in principal pension benefit obligation assuming 25 basis point decrease in discount rate		2,400
Increase in principal pension plan cost assuming 50 basis point decrease in expected return on assets		$ 250

POSTRETIREMENT BENEFIT PLANS _7

POSTRETIREMENT BENEFIT PLANS - Plan Funded Status and Amounts Recorded in Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	$ 99,837,000
Balance at December 31	105,975,000	$ 99,837,000
Change in plan assets
Balance at January 1	72,064,000
Balance at December 31	80,483,000	72,064,000
Funded status - Deficit	25,492,000	27,773,000
Principal pension
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	71,756,000	68,500,000
Service cost	657,000	654,000	$ 888,000
Interest cost	2,350,000	2,780,000	2,658,000
Participant contributions	69,000	77,000
Plan amendments	0	(42,000)
Actuarial loss (gain) - net	7,057,000	7,073,000
Benefits paid	(3,885,000)	(3,788,000)
Curtailments	0	(838,000)
Settlements	(1,706,000)	(2,657,000)
Dispositions/ acquisitions / other - net	0	(3,000)
Exchange rate adjustments	0	0
Balance at December 31	76,298,000	71,756,000	68,500,000
Change in plan assets
Balance at January 1	52,633,000	50,009,000
Actual gain (loss) on plan assets	8,926,000	8,694,000
Employer contributions	2,806,000	298,000
Participant contributions	69,000	77,000
Benefits paid	(3,885,000)	(3,788,000)
Settlements	(1,706,000)	(2,657,000)
Dispositions/ acquisitions / other - net	0	0
Exchange rate adjustments	0	0
Balance at December 31	58,843,000	52,633,000	50,009,000
Funded status - Deficit	17,455,000	19,123,000
Amounts recorded in the consolidated Statement of Financial Position
Non-current assets - other	0	0
Current liabilities - other	(315,000)	(296,000)
Non-current liabilities - compensation and benefits	(17,140,000)	(18,827,000)
Net amount recorded	(17,455,000)	(19,123,000)
Prior service cost (credit)	(80,000)	67,000
Actuarial loss (gain)	5,687,000	7,961,000
Total recorded in Accumulated other comprehensive income (loss)	5,607,000	8,028,000
Principal pension | GE Supplementary Pension Plan
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	6,691,000
Balance at December 31	7,353,000	6,691,000
Other pension
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	22,921,000	21,091,000
Service cost	243,000	246,000	323,000
Interest cost	422,000	542,000	548,000
Participant contributions	28,000	29,000
Plan amendments	27,000	(17,000)
Actuarial loss (gain) - net	1,927,000	2,422,000
Benefits paid	(1,062,000)	(1,043,000)
Curtailments	(69,000)	(32,000)
Settlements	0	0
Dispositions/ acquisitions / other - net	(335,000)	(1,030,000)
Exchange rate adjustments	556,000	713,000
Balance at December 31	24,658,000	22,921,000	21,091,000
Change in plan assets
Balance at January 1	19,142,000	17,537,000
Actual gain (loss) on plan assets	2,542,000	2,229,000
Employer contributions	509,000	716,000
Participant contributions	28,000	29,000
Benefits paid	(1,062,000)	(1,043,000)
Settlements	0	0
Dispositions/ acquisitions / other - net	(59,000)	(1,030,000)
Exchange rate adjustments	406,000	704,000
Balance at December 31	21,506,000	19,142,000	17,537,000
Funded status - Deficit	3,152,000	3,779,000
Amounts recorded in the consolidated Statement of Financial Position
Non-current assets - other	845,000	475,000
Current liabilities - other	(106,000)	(123,000)
Non-current liabilities - compensation and benefits	(3,891,000)	(4,131,000)
Net amount recorded	(3,152,000)	(3,779,000)
Prior service cost (credit)	19,000	(16,000)
Actuarial loss (gain)	4,582,000	4,665,000
Total recorded in Accumulated other comprehensive income (loss)	4,601,000	4,649,000
Other pension | GE Supplementary Pension Plan
Change in plan assets
Employer contributions	335,000
Principal retiree benefit
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	5,160,000	5,153,000
Service cost	59,000	58,000	63,000
Interest cost	150,000	202,000	196,000
Participant contributions	63,000	61,000
Plan amendments	(7,000)	(23,000)
Actuarial loss (gain) - net	85,000	275,000
Benefits paid	(491,000)	(533,000)
Curtailments	0	(33,000)
Settlements	0	0
Dispositions/ acquisitions / other - net	0	0
Exchange rate adjustments	0	0
Balance at December 31	5,019,000	5,160,000	5,153,000
Change in plan assets
Balance at January 1	289,000	362,000
Actual gain (loss) on plan assets	(22,000)	57,000
Employer contributions	295,000	342,000
Participant contributions	63,000	61,000
Benefits paid	(491,000)	(533,000)
Settlements	0	0
Dispositions/ acquisitions / other - net	0	0
Exchange rate adjustments	0	0
Balance at December 31	134,000	289,000	$ 362,000
Funded status - Deficit	4,885,000	4,871,000
Amounts recorded in the consolidated Statement of Financial Position
Non-current assets - other	0	0
Current liabilities - other	(330,000)	(355,000)
Non-current liabilities - compensation and benefits	(4,555,000)	(4,516,000)
Net amount recorded	(4,885,000)	(4,871,000)
Prior service cost (credit)	(2,148,000)	(2,376,000)
Actuarial loss (gain)	(633,000)	(833,000)
Total recorded in Accumulated other comprehensive income (loss)	(2,781,000)	(3,209,000)
Retiree health plans
Defined Benefit Plan, Change in Benefit Obligation
Balance at January 1	3,306,000
Balance at December 31	$ 3,094,000	$ 3,306,000

POSTRETIREMENT BENEFIT PLANS _8

POSTRETIREMENT BENEFIT PLANS - Composition of Plan Assets, Pension Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 80,483,000	$ 72,064,000
Principal pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58,843,000	52,633,000	$ 50,009,000
Principal pension | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29,164,000	27,657,000
Principal pension | Global equities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,552,000	6,826,000
Principal pension | Global equities | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16,259,000	14,616,000
Principal pension | Fixed income and cash investment funds | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,831,000	4,398,000
Principal pension | U.S. corporate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,512,000	8,025,000
Principal pension | Other debt securities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,505,000	6,076,000
Principal pension | Debt securities | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,445,000	3,744,000
Principal pension | Real estate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,274,000	2,309,000
Principal pension | Real estate | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,324,000	1,167,000
Principal pension | Private equities & other investments | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	490,000	23,000
Principal pension | Private equities & other investments | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,651,000	5,449,000
Other pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21,506,000	19,142,000	$ 17,537,000
Other pension | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15,107,000	12,954,000
Other pension | Global equities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,674,000	3,484,000
Other pension | Global equities | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,415,000	1,450,000
Other pension | Fixed income and cash investment funds | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,003,000	8,089,000
Other pension | U.S. corporate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	410,000	365,000
Other pension | Other debt securities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	440,000	424,000
Other pension | Debt securities | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,268,000	914,000
Other pension | Real estate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	81,000	140,000
Other pension | Real estate | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,978,000	1,930,000
Other pension | Private equities & other investments | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	499,000	452,000
Other pension | Private equities & other investments | Plan assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,738,000	$ 1,894,000

POSTRETIREMENT BENEFIT PLANS _9

POSTRETIREMENT BENEFIT PLANS - Composition of Plan Assets, Pension Plans (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 80,483,000	$ 72,064,000
Principal pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58,843,000	52,633,000	$ 50,009,000
Principal pension | GE Pension Plan | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,721,000	2,838,000
Other pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21,506,000	19,142,000	17,537,000
Other pension | GE Pension Plan | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	97,000	105,000
Principal retiree benefit plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 134,000	$ 289,000	$ 362,000

POSTRETIREMENT BENEFIT PLANS_10

POSTRETIREMENT BENEFIT PLANS - Asset Allocation (Details)	Dec. 31, 2020
Principal pension | Global equities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation	37.00%
Principal pension | Global equities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	30.00%
Principal pension | Global equities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	47.00%
Principal pension | Debt securities (including cash equivalents)
Defined Benefit Plan Disclosure [Line Items]
Actual allocation	45.00%
Principal pension | Debt securities (including cash equivalents) | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	21.00%
Principal pension | Debt securities (including cash equivalents) | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	65.00%
Principal pension | Real estate
Defined Benefit Plan Disclosure [Line Items]
Actual allocation	6.00%
Principal pension | Real estate | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	3.50%
Principal pension | Real estate | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	13.50%
Principal pension | Private equities & other investments
Defined Benefit Plan Disclosure [Line Items]
Actual allocation	12.00%
Principal pension | Private equities & other investments | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	6.00%
Principal pension | Private equities & other investments | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	16.00%
Other pension | Global equities
Defined Benefit Plan Disclosure [Line Items]
Target allocation	22.00%
Actual allocation	25.00%
Other pension | Debt securities (including cash equivalents)
Defined Benefit Plan Disclosure [Line Items]
Target allocation	52.00%
Actual allocation	56.00%
Other pension | Real estate
Defined Benefit Plan Disclosure [Line Items]
Target allocation	9.00%
Actual allocation	10.00%
Other pension | Private equities & other investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation	17.00%
Actual allocation	9.00%

POSTRETIREMENT BENEFIT PLANS_11

POSTRETIREMENT BENEFIT PLANS - Asset Allocation (Narrative) (Details) - GE Pension Plan - Principal pension	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Sector concentration of assets (as a percent) (not exceeded)	15.00%
Qualifying employer securities (GE securities)
Defined Benefit Plan Disclosure [Line Items]
Plan assets (as a percent)	0.60%	0.60%

POSTRETIREMENT BENEFIT PLANS_12

POSTRETIREMENT BENEFIT PLANS - Annualized Returns (Details) - Principal pension - GE Pension Plan	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
1 year	17.60%
5 years	9.70%
10 years	8.00%
25 years	8.00%

POSTRETIREMENT BENEFIT PLANS_13

POSTRETIREMENT BENEFIT PLANS - Estimated Future Benefit Payments, Benefit Plans (Details) $ in Millions	Dec. 31, 2020USD ($)
Principal pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	$ 3,725
2022	3,785
2023	3,820
2024	3,845
2025	3,865
2026 - 2030	19,410
Other pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	945
2022	945
2023	955
2024	970
2025	995
2026 - 2030	5,185
Principal retiree benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	460
2022	440
2023	420
2024	395
2025	380
2026 - 2030	$ 1,615

POSTRETIREMENT BENEFIT PLANS_14

POSTRETIREMENT BENEFIT PLANS - Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer contributions to defined contribution plan	$ 318	$ 355	$ 410

POSTRETIREMENT BENEFIT PLANS_15

POSTRETIREMENT BENEFIT PLANS - Cost of Postretirement Benefit Plans and Changes in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Principal pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost (income) of postretirement benefit plans	$ 3,559	$ 3,929	$ 4,260
Prior service cost (credit) - current year	0	(42)	0
Actuarial loss (gain) - current year	1,124	971	(111)
Reclassifications out of AOCI
Curtailment / settlement gain (loss)	0	(353)	(45)
Dispositions	0	0	0
Amortization of net actuarial gain (loss)	(3,399)	(3,439)	(3,785)
Amortization of prior service credit (cost)	(146)	(135)	(143)
Total changes in other comprehensive income	(2,421)	(2,998)	(4,084)
Cost of postretirement benefit plans and changes in other comprehensive income	1,138	931	176
Other pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost (income) of postretirement benefit plans	30	(21)	(110)
Prior service cost (credit) - current year	27	(17)	82
Actuarial loss (gain) - current year	529	1,592	464
Reclassifications out of AOCI
Curtailment / settlement gain (loss)	(3)	(12)	(2)
Dispositions	(166)	(340)	0
Amortization of net actuarial gain (loss)	(434)	(319)	(312)
Amortization of prior service credit (cost)	(1)	(3)	9
Total changes in other comprehensive income	(48)	901	241
Cost of postretirement benefit plans and changes in other comprehensive income	(18)	880	131
Principal retiree benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost (income) of postretirement benefit plans	(118)	(149)	(79)
Prior service cost (credit) - current year	(7)	(23)	0
Actuarial loss (gain) - current year	119	240	(543)
Reclassifications out of AOCI
Curtailment / settlement gain (loss)	0	4	0
Dispositions	0	0	0
Amortization of net actuarial gain (loss)	82	118	79
Amortization of prior service credit (cost)	234	232	230
Total changes in other comprehensive income	428	571	(234)
Cost of postretirement benefit plans and changes in other comprehensive income	$ 310	$ 422	$ (313)

CURRENT AND ALL OTHER LIABILI_3

CURRENT AND ALL OTHER LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Subsidiary or Equity Method Investee [Line Items]
Other current liabilities	$ 16,600	$ 17,821
Operating lease liabilities (Note 7)	2,973	3,162
Alstom legacy legal matters (Note 23)	858	875
Redeemable noncontrolling interests (Note 16)	487	439
All other liabilities	16,077	15,938
Total	32,677	33,759
Accounts payable and equipment project accruals	16,476	17,357
Revision of Prior Period, Reclassification, Adjustment [Member]
Subsidiary or Equity Method Investee [Line Items]
Other current liabilities	(1,432)
Accounts payable and equipment project accruals	1,432
Eliminations
Subsidiary or Equity Method Investee [Line Items]
Other current liabilities	(1,422)	(1,483)
All other liabilities	(1,514)	(1,593)
GE Industrial | Reportable Legal Entities
Subsidiary or Equity Method Investee [Line Items]
Sales allowances, equipment projects and other commercial liabilities	5,123	4,277
Product warranties (Note 23)	1,197	1,371
Employee compensation and benefit liabilities	4,763	5,114
Taxes payable	413	429
Environmental, health and safety liabilities (Note 23)	359	330
Due to GE Capital	984	1,080
Derivative instruments (Note 21)	250	171
Other	1,044	2,479
Other current liabilities	14,131	15,251
Sales allowances, equipment projects and other commercial liabilities	3,917	3,923
Product warranties (Note 23)	857	793
Operating lease liabilities (Note 7)	3,133	3,369
Uncertain and other income taxes and related liabilities	3,652	3,410
Alstom legacy legal matters (Note 23)	858	875
Environmental, health and safety liabilities (Note 23)	2,210	2,154
Redeemable noncontrolling interests (Note 16)	487	439
Other	1,326	1,342
All other liabilities	16,440	16,306
GE Capital
Subsidiary or Equity Method Investee [Line Items]
Other	1,244	495
Other current liabilities	3,890	4,052
All other liabilities	1,151	1,226
Accounts payable and equipment project accruals	947	886
GE Capital | Reportable Legal Entities
Subsidiary or Equity Method Investee [Line Items]
Derivative instruments (Note 21)	117	31
Aircraft maintenance reserve, sales deposits and other commercial liabilities	1,465	2,336
Interest payable	1,064	1,189
Other current liabilities	3,890	4,052
Operating lease liabilities (Note 7)	221	238
Uncertain and other income taxes and related liabilities	475	415
Other commercial liabilities	455	573
All other liabilities	$ 1,151	$ 1,226

INCOME TAXES - (Benefit) Provis

INCOME TAXES - (Benefit) Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Current tax expense (benefit)	$ 2,452	$ 1,831	$ 2,339
Deferred tax expense (benefit) from temporary differences	(2,926)	(1,104)	(2,245)
Total consolidated	(474)	726	93
GE Industrial
Income Tax Contingency [Line Items]
Current tax expense (benefit)	2,123	2,551	1,743
Deferred tax expense (benefit) from temporary differences	(1,735)	(1,242)	(1,276)
Total consolidated	388	1,309	467
GE Capital
Income Tax Contingency [Line Items]
Current tax expense (benefit)	329	(720)	596
Deferred tax expense (benefit) from temporary differences	(1,191)	138	(970)
Total consolidated	$ (862)	$ (582)	$ (374)

INCOME TAXES - Consolidated Ear

INCOME TAXES - Consolidated Earnings (Loss) from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. earnings (loss)	$ (5,325)	$ 506	$ (9,861)
Non-U.S. earnings (loss)	10,522	643	(11,126)
Earnings (loss) from continuing operations before income taxes	$ 5,197	$ 1,149	$ (20,987)

INCOME TAXES - Consolidated (Be

INCOME TAXES - Consolidated (Benefit) Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. Federal
Current	$ 939	$ 146	$ 1,019
Deferred	(2,032)	(1,266)	(3,144)
Non - U.S.
Current	1,331	2,008	1,132
Deferred	(793)	106	1,197
Other	80	(267)	(111)
Total consolidated	$ (474)	$ 726	$ 93

INCOME TAXES - Income Taxes Pai

INCOME TAXES - Income Taxes Paid (Recovered) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Income taxes paid (recovered)	$ 1,291	$ 2,228	$ 1,868
GE Capital
Income Tax Contingency [Line Items]
Income taxes paid (recovered)	(1,108)	45	65
GE Industrial
Income Tax Contingency [Line Items]
Income taxes paid (recovered)	$ 2,399	$ 2,183	$ 1,803

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Tax on global activities including exports	(28.50%)	91.00%	(5.00%)
U.S. business credits	(3.30%)	(22.50%)	2.60%
Goodwill impairments	6.90%	26.00%	(21.50%)
Tax Cuts and Jobs Act enactment	0.009	0.002	(0.002)
All other – net	(6.10%)	(52.50%)	2.70%
Total income tax reconciliation items	(30.10%)	42.20%	(21.40%)
Actual income tax rate	(9.10%)	63.20%	(0.40%)
Tax reconciliation related to resolution of IRS audit	(2.70%)	(32.90%)
Reconciliation change related to deductible stock losses	(3.90%)		2.80%
BioPharma Business
Income Tax Contingency [Line Items]
Tax reconciliation related to disposition of business	(27.80%)	55.10%
Digital ServiceMax
Income Tax Contingency [Line Items]
Tax reconciliation related to disposition of business		(12.50%)
GE Industrial
Income Tax Contingency [Line Items]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Tax on global activities including exports	(16.30%)	61.00%	(5.10%)
U.S. business credits	(1.00%)	(6.40%)	0.40%
Goodwill impairments	2.50%	16.60%	(21.90%)
Tax Cuts and Jobs Act enactment	0.007	0.056	0.005
All other – net	(1.60%)	(25.10%)	2.80%
Total income tax reconciliation items	(15.70%)	51.70%	(23.30%)
Actual income tax rate	5.30%	72.70%	(2.30%)
Tax reconciliation related to resolution of IRS audit	(0.90%)	(19.70%)
Reconciliation change related to deductible stock losses	(2.10%)		2.80%
GE Industrial | BioPharma Business
Income Tax Contingency [Line Items]
Tax reconciliation related to disposition of business	(18.50%)	35.10%
GE Industrial | Digital ServiceMax
Income Tax Contingency [Line Items]
Tax reconciliation related to disposition of business		(8.00%)
GE Capital
Income Tax Contingency [Line Items]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Tax on global activities including exports	13.80%	8.10%	3.20%
U.S. business credits	4.70%	21.90%	120.00%
Goodwill impairments	(8.30%)	0.00%	0.00%
Tax Cuts and Jobs Act enactment	0.001	0.152	(0.365)
All other – net	9.80%	23.10%	(8.00%)
Total income tax reconciliation items	20.10%	68.30%	78.70%
Actual income tax rate	41.10%	89.30%	99.70%
Tax reconciliation related to resolution of IRS audit	3.60%	3.50%
Reconciliation change related to deductible stock losses	2.20%
GE Capital | BioPharma Business
Income Tax Contingency [Line Items]
Tax reconciliation related to disposition of business	4.60%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2020USD ($)jurisdictiontax_return	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Tax Contingency [Line Items]
Tax expense recorded resulting from the U.S. tax reform					$ 41
Additional tax expense based on issuance of final regulations on transition tax on historic foreign earnings			$ 49	$ 2
Number of income tax returns filed annually | tax_return			3,600
Number of taxing jurisdictions throughout the globe where we file tax returns on an annual basis | jurisdiction			300
Interest expense (income)			$ (30)	(93)	127
Tax expense (income) related to penalties			(13)	$ 20	$ (7)
Undistributed earnings of foreign affiliates and associated companies	$ 42,000		42,000
Continuing Operations
Income Tax Contingency [Line Items]
Tax benefit	140	$ 378
Net interest benefits	96	107
Discontinued Operations | GE Capital
Income Tax Contingency [Line Items]
Tax benefit	130	332
Net interest benefits	25	$ 46
Her Majesty's Revenue and Customs (HMRC) | Foreign Tax Authority | GE Capital
Income Tax Contingency [Line Items]
Potential impact on disallowance of interest deductions	$ 1,100		$ 1,100

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	$ 4,191	$ 4,169	$ 5,563	$ 5,449
Portion that, if recognized, would reduce tax expense and effective tax rate	2,986	2,701	4,265
Accrued interest on unrecognized tax benefits	628	722	934
Accrued penalties on unrecognized tax benefits	179	195	182
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Portion that, if recognized, would reduce tax expense and effective tax rate	0	0	0
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months	0	0	0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Portion that, if recognized, would reduce tax expense and effective tax rate	250	650	1,200
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months	$ 350	$ 700	$ 1,300

INCOME TAXES - Unrecognized T_2

INCOME TAXES - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Balance at beginning of period	$ 4,169	$ 5,563	$ 5,449
Additions for tax positions of the current year	836	403	300
Additions for tax positions of prior years	326	500	945
Reductions for tax positions of prior years	(863)	(1,927)	(905)
Settlements with tax authorities	(127)	(155)	(64)
Expiration of the statute of limitations	(151)	(214)	(162)
Balance at end of period	$ 4,191	4,169	$ 5,563
Discontinued Operations | Baker Hughes
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Reductions for tax positions of prior years		(442)
Tax Years 2012-2013 | Internal Revenue Service (IRS) | U.S. Federal
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Reductions for tax positions of prior years		$ (710)

INCOME TAXES - Components of Ne

INCOME TAXES - Components of Net Deferred Income Tax Assets (Liability) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Assets	$ 13,679	$ 11,388
Liabilities	(1,598)	(1,499)
Net deferred income tax asset (liability)	12,081	9,889
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Non-U.S. loss carryforwards	2,008
Net Operating Loss Carryforwards Expiring in Various Years Ending from 2021 Through 2023
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Non-U.S. loss carryforwards	19
Net Operating Loss Carryforwards Expiring in Various Years Ending from 2024 Through 2040
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Non-U.S. loss carryforwards	112
Net Operating Loss Carryforwards That May be Carried Forward Indefinitely
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Non-U.S. loss carryforwards	1,957
GE Industrial
Income Tax Contingency [Line Items]
Assets	10,069	8,888
Net deferred income tax asset (liability)	9,350	8,189
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Principal pension plans	3,666	4,016
Provision for expenses	2,258	1,990
Other compensation and benefits	1,968	2,206
Principal retiree benefit plans	1,026	1,023
Capitalized expenditures	993	860
Non-U.S. loss carryforwards	814	602
Intangible assets	486	1,315
Baker Hughes investment	(973)	(1,256)
Depreciation	(676)	(823)
Contract assets	(460)	(1,232)
Other – net	248	(512)
Valuation allowances related to assets other than non-U.S. loss carryforwards	898	1,897
GE Industrial | Valuation Allowance for Non-U.S. Loss Carryforwards
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Valuation allowances	5,934	4,801
GE Industrial | Operating segments
Income Tax Contingency [Line Items]
Liabilities	(719)	(699)
GE Capital
Income Tax Contingency [Line Items]
Assets	3,610	2,500
Net deferred income tax asset (liability)	2,731	1,700
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Capitalized expenditures	799	742
Non-U.S. loss carryforwards	1,194	1,274
Other – net	1,347	664
Insurance company loss reserves	1,684	1,715
Operating leases	(1,900)	(2,218)
Financing leases	(393)	(477)
Valuation allowances related to assets other than non-U.S. loss carryforwards	221	248
GE Capital | Valuation Allowance for Non-U.S. Loss Carryforwards
COMPONENTS OF THE NET DEFERRED INCOME TAX ASSET (LIABILITY)
Valuation allowances	265	201
GE Capital | Operating segments
Income Tax Contingency [Line Items]
Liabilities	$ (879)	$ (800)

SHAREHOLDERS_ EQUITY - Schedule

SHAREHOLDERS’ EQUITY - Schedule of Shareowners' Equity (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	[1]	$ 29,861,000,000	$ 51,481,000,000
Other comprehensive income (loss)		1,989,000,000	2,641,000,000	$ (235,000,000)
Ending balance	[1]	37,073,000,000	29,861,000,000	51,481,000,000
Adjustments to deferred acquisition costs, present value of future profits, and investment contracts, insurance liabilities and insurance annuity benefits		(1,979,000,000)	(2,693,000,000)	1,825,000,000
Currency translation, net of taxes			1,066,000,000
Currency translation gains (losses) on disposition			1,343,000,000
Investment securities - net of deferred taxes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss) before reclassifications		55,000,000	141,000,000	87,000,000
Other comprehensive income (loss) before reclassifications, tax		10,000,000	32,000,000	41,000,000
Reclassifications from other comprehensive income		(56,000,000)	(42,000,000)	(23,000,000)
Reclassification from other comprehensive income, tax		(14,000,000)	(11,000,000)	(6,000,000)
Other comprehensive income (loss)		(1,000,000)	100,000,000	64,000,000
Investment securities - noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss)		0	0	0
Investment securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance		61,000,000	(39,000,000)	(102,000,000)
Other comprehensive income (loss)		(1,000,000)	100,000,000	63,000,000
Ending balance		60,000,000	61,000,000	(39,000,000)
Currency translation - net of deferred taxes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss) before reclassifications		(255,000,000)	41,000,000	(2,076,000,000)
Other comprehensive income (loss) before reclassifications, tax		(25,000,000)	(98,000,000)	29,000,000
Reclassifications from other comprehensive income		691,000,000	1,234,000,000	412,000,000
Reclassification from other comprehensive income, tax		0	(9,000,000)	89,000,000
Other comprehensive income (loss)		435,000,000	1,275,000,000	(1,664,000,000)
Currency translation adjustments - noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss)		2,000,000	(40,000,000)	(192,000,000)
Currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance		(4,818,000,000)	(6,134,000,000)	(4,661,000,000)
Other comprehensive income (loss)		433,000,000	1,315,000,000	(1,472,000,000)
Ending balance		(4,386,000,000)	(4,818,000,000)	(6,134,000,000)
Cash flow hedges - net of deferred taxes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss) before reclassifications		(94,000,000)	(21,000,000)	(149,000,000)
Other comprehensive income (loss) before reclassifications, tax		(11,000,000)	(6,000,000)	26,000,000
Reclassifications from other comprehensive income		17,000,000	58,000,000	98,000,000
Reclassification from other comprehensive income, tax		(11,000,000)	2,000,000	4,000,000
Other comprehensive income (loss)		(77,000,000)	37,000,000	(51,000,000)
Cash flow hedges - noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss)		0	2,000,000	(2,000,000)
Cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance		49,000,000	13,000,000	62,000,000
Other comprehensive income (loss)		(77,000,000)	35,000,000	(49,000,000)
Ending balance		(28,000,000)	49,000,000	13,000,000
Benefit plans - net of deferred taxes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss) before reclassifications		(1,256,000,000)	(2,097,000,000)	71,000,000
Other comprehensive income (loss) before reclassifications, tax		(283,000,000)	(418,000,000)	115,000,000
Reclassifications from other comprehensive income		2,888,000,000	3,325,000,000	1,345,000,000
Reclassification from other comprehensive income, tax		805,000,000	915,000,000	2,610,000,000
Other comprehensive income (loss)		1,632,000,000	1,228,000,000	1,416,000,000
Benefit plans - net of deferred taxes | BioPharma Business
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Reclassifications from other comprehensive income		(836,000,000)
Currency translation, net of taxes		688,000,000
Benefit plans - noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Other comprehensive income (loss)		4,000,000	(2,000,000)	(32,000,000)
Benefit plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance		(7,024,000,000)	(8,254,000,000)	(9,702,000,000)
Other comprehensive income (loss)		1,628,000,000	1,231,000,000	1,448,000,000
Ending balance		(5,395,000,000)	(7,024,000,000)	(8,254,000,000)
AOCI attributable to parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance		(11,732,000,000)	(14,414,000,000)	(14,404,000,000)
Ending balance		$ (9,749,000,000)	$ (11,732,000,000)	$ (14,414,000,000)
[1]	Total equity balance decreased by $(14,408) million from December 31, 2018, primarily due to reduction of noncontrolling interest balance of $(19,239) million attributable to Baker Hughes Class A shareholders at December 31, 2018, after-tax loss of $(8,238) million in discontinued operations due to deconsolidation of Baker Hughes in 2019, and after-tax net realized and unrealized loss on our remaining interest in Baker Hughes of $(936) million in 2019 and 2020, partially offset by after-tax gain of $11,213 million due to the sale of our BioPharma business within our Healthcare segment, and after-tax gain of $2,508 million in discontinued operations due to spin-off and subsequent merger of our Transportation business with Wabtec in 2019.

SHAREHOLDERS_ EQUITY - Narrativ

SHAREHOLDERS’ EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 21, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Preferred stock issued		$ 6	$ 6	$ 6
Preferred stock, shares outstanding		5,939,875	5,939,875
Issued (in shares)		8,765,493,000	8,738,434,000
Noncontrolling interests		$ 1,522	$ 1,545	20,500
Net earnings (loss)		(33)	33	203
Dividends attributable to noncontrolling interests		(16)	(331)	(362)
Redeemable noncontrolling interests		487	439
Net earnings (loss)		(125)	33	(291)
GE Industrial
Related Party Transaction [Line Items]
Preferred stock issued		5,918			$ 5,940
Preferred stock dividends		474	460	447
Cash dividends		$ 295	$ 295	$ 295
Authorized preferred stock (in shares)		50,000,000
Par value (in dollars per share)		$ 1
Preferred stock, shares outstanding		5,939,875
Authorized common stock (in shares)		13,200,000,000
Par value (in dollars per share)		$ 0.06
Issued (in shares)		11,694,000,000	11,694,000,000
Repurchased (in shares)		500,000	1,100,000
Value of shares repurchased		$ 15.3	$ 9.6
Series D Preferred Stock | GE Industrial
Related Party Transaction [Line Items]
Preferred stock issued		$ 5,694				$ 5,694
Series A, B and C Preferred Stock | GE Industrial
Related Party Transaction [Line Items]
Preferred stock, value outstanding							$ 245
Subsequent Event | Series D Preferred Stock
Related Party Transaction [Line Items]
Preferred stock dividend percentage	5.00%
Subsequent Event | Series D Preferred Stock | London Interbank Offered Rate (LIBOR) [Member]
Related Party Transaction [Line Items]
Preferred stock variable rate	3.33%

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019$ / sharesshares	Dec. 31, 2018$ / shares
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Risk-free interest rate (as a percent)	1.00%	2.50%	2.80%
Dividend yield (as a percent)	0.40%	0.40%	2.30%
Expected volatility (as a percent)	36.00%	33.00%	32.00%
Expected lives (in years)	6 years 1 month 6 days	6 years	5 years 10 months 24 days
Strike price (in dollars per share)	$ 10.56	$ 10	$ 12.13
Stock options | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock options | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU/common stock conversion ratio	1
Outstanding (in shares) | shares	60	28
Outstanding (in dollars per share)	$ 9.04	$ 13.29
Intrinsic value, outstanding | $	$ 653
Weighted average remaining contractual term, outstanding	2 years 1 month 6 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares) | shares	21
Outstanding (in dollars per share)	$ 8.62
Intrinsic value, outstanding | $	$ 232
Weighted average remaining contractual term, outstanding	3 years

SHARE-BASED COMPENSATION - Weig

SHARE-BASED COMPENSATION - Weighted Average Grant Date Fair Value (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of stock options (in dollars per share)	$ 3.58	$ 3.48	$ 3
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (in dollars per share)	7.91	10.12	13.96
PSUs/Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (in dollars per share)	$ 7.91	$ 10.73	$ 4.80

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock-Based Compensation Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares, Stock Options
Outstanding at beginning of period (in shares)	458
Granted (in shares)	36
Exercised (in shares)	(1)
Forfeited (in shares)	(15)
Expired (in shares)	(78)
Outstanding at end of period (in shares)	400	458
Exercisable (in shares)	305
Expected to vest (in shares)	90
Weighted average exercise price, Stock Options
Outstanding at beginning of period (in dollars per share)	$ 18.66
Granted (in dollars per share)	10.56
Forfeited (in dollars per share)	7.48
Exercised (in dollars per share)	11.12
Expired (in dollars per share)	19.14
Outstanding at end of period (in dollars per share)	18.16	$ 18.66
Exercisable (in dollars per share)	20.28
Expected to vest (in dollars per share)	$ 11.50
Weighted average contractual term (in years)
Stock options, weighted average remaining contractual term, outstanding	4 years 6 months
Stock options, weighted average remaining contractual term, exercisable	3 years 3 months 18 days
Stock options, weighted average remaining contractual term, expected to vest	8 years 2 months 12 days
Intrinsic value
Stock options, intrinsic value, outstanding	$ 156
Stock options, intrinsic value, exercisable	62
Stock options, intrinsic value, expected to vest	$ 87
RSUs
Shares
Outstanding at beginning of period (in shares)	28
Granted (in shares)	46
Exercised (in shares)	(10)
Forfeited (in shares)	(4)
Outstanding at end of period (in shares)	60	28
Expected to vest (in shares)	49
Weighted average grant date fair value
Outstanding at beginning of period (in dollars per share)	$ 13.29
Granted (in dollars per share)	7.91	$ 10.12	$ 13.96
Exercised (in dollars per share)	14.44
Forfeited (in dollars per share)	11.80
Outstanding at end of period (in dollars per share)	9.04	$ 13.29
Expected to vest (in dollars per share)	$ 9.41
Intrinsic value
Intrinsic value, outstanding	$ 653
Intrinsic value, expected to vest	$ 533
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term, outstanding	2 years 1 month 6 days
Weighted average remaining contractual term, expected to vest	1 year 10 months 24 days

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of Compensation Expense, Cash Proceeds and Intrinsic Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (after-tax)	$ 353	$ 400	$ 336
Intrinsic value of stock options exercised and RSUs vested	81	154	83
Unrecognized compensation expense related to unvested equity awards	$ 543
Amortization period of unrecognized compensation expense	1 year 3 months 18 days
Income tax benefit recognized in earnings	$ 10	20	40
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from stock options exercised	$ 6	$ 69	$ 24

EARNINGS PER SHARE INFORMATIO_2

EARNINGS PER SHARE INFORMATION (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated
Earnings (loss) from continuing operations for per-share calculation	$ 5,817	$ 416	$ (20,997)
Preferred stock dividends	(474)	(460)	(447)
Accretion of redeemable noncontrolling interests, net of tax	(151)	0	0
Earnings (loss) from continuing operations attributable to common shareowners for per-share calculation	5,191	(45)	(21,445)
Earnings (loss) from discontinued operations for per-share calculation	(125)	(5,396)	(1,372)
Net earnings (loss) attributable to GE common shareowners for per-share calculation	$ 5,066	$ (5,440)	$ (22,809)
Average equivalent shares
Shares of GE common stock outstanding (in shares)	8,753	8,724	8,691
Employee compensation-related shares (including stock options) and warrants (in shares)	9	0	0
Total average equivalent shares (in shares)	8,761	8,724	8,691
Per-share amounts
Earnings (loss) from continuing operations (in dollars per share)	$ 0.59	$ (0.01)	$ (2.47)
Earnings (loss) from discontinued operations (in dollars per share)	(0.01)	(0.62)	(0.16)
Net earnings (loss) (in dollars per share)	$ 0.58	$ (0.62)	$ (2.62)
Consolidated
Earnings (loss) from continuing operations for per-share calculation	$ 5,817	$ 416	$ (20,997)
Preferred stock dividends	(474)	(460)	(447)
Accretion of redeemable noncontrolling interests, net of tax	(151)	0	0
Earnings (loss) from continuing operations attributable to common shareowners for per-share calculation	5,191	(45)	(21,445)
Earnings (loss) from discontinued operations for per-share calculation	(125)	(5,396)	(1,372)
Net earnings (loss) attributable to GE common shareowners for per-share calculation	$ 5,066	$ (5,440)	$ (22,809)
Average equivalent shares
Shares of GE common stock outstanding (in shares)	8,753	8,724	8,691
Employee compensation-related shares (including stock options) and warrants (in shares)	0	0	0
Total average equivalent shares (in shares)	8,753	8,724	8,691
Per-share amounts
Earnings (loss) from continuing operations (in dollars per share)	$ 0.59	$ (0.01)	$ (2.47)
Earnings (loss) from discontinued operations (in dollars per share)	(0.01)	(0.62)	(0.16)
Net earnings (loss) (in dollars per share)	$ 0.58	$ (0.62)	$ (2.62)
Outstanding anti-dilutive stock awards not included in computation of diluted earnings per share (in shares)	444	450	420

OTHER INCOME (Details)

OTHER INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests	$ 12,526	$ 53	$ 1,522
Equity method income	104	423	(233)
Total other income	11,387	2,222	2,321
Interest income	146	143	136
Business Restructuring Reserve
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Valuation allowance on businesses classified as held for sale		245	554
BioPharma Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of business	12,362
ServiceMax
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests		224
Distributed Power
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests		737
Healthcare Value Based Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests		681
Industrial Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests		267
GE
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchases and sales of business interests	12,468	3	1,234
Sales	161	256	218
Equity method income	27	206	21
Net interest and investment income	(1,546)	1,220	562
Other items	334	515	282
Total other income	11,444	2,200	2,317
Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total other income	(57)	$ 22	$ 4
Baker Hughes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Realized and unrealized pre-tax loss	2,037
Unrealized pre-tax gain	$ 793

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Derivative assets	$ 3,065	$ 2,572
Netting adjustment	(647)	(546)
Net derivative assets	483	740
Liabilities
Derivatives	1,118	853
Netting adjustment	(647)	(546)
Net derivative liabilities	367	202
Recurring
Assets
Investment securities	49,868	48,521
Total assets	50,352	49,261
Netting adjustment	(2,582)	(1,832)
Net derivative assets	483	740
Liabilities
Other	780	807
Total liabilities	1,147	1,009
Netting adjustment	(752)	(651)
Net derivative liabilities	367	202
Recurring | Level 1
Assets
Investment securities	7,319	9,704
Derivative assets	0	0
Total assets	7,319	9,704
Liabilities
Derivatives	0	0
Other	0	0
Total liabilities	0	0
Recurring | Level 2
Assets
Investment securities	36,684	33,606
Derivative assets	3,057	2,561
Total assets	39,741	36,167
Liabilities
Derivatives	1,112	834
Other	780	807
Total liabilities	1,892	1,641
Recurring | Level 3
Assets
Investment securities	5,866	5,210
Derivative assets	8	11
Total assets	5,874	5,221
Liabilities
Derivatives	7	19
Other	0	0
Total liabilities	7	19
Recurring | Level 3 | U.S. corporate
Assets
Investment securities	4,185	3,977
Recurring | Level 3 | Mortgage and asset-backed
Assets
Investment securities	$ 976
Recurring | Level 3 | Government and agencies
Assets
Investment securities		$ 330

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Level 3 Instruments (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Net unrealized gain (losses) in other comprehensive income	$ 323	$ 404
Investment securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance at beginning of period	5,210	4,013
Net realized/unrealized gains (losses)	357	399
Purchases	1,301	2,159
Sales & Settlements	(958)	(1,308)
Transfers into Level 3	2	0
Transfers out of Level 3	(45)	(53)
Balance at end of period	5,866	5,210
U.S. corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Purchases		$ 975
Mortgage and asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Purchases	$ 745

FINANCIAL INSTRUMENTS - Assets

FINANCIAL INSTRUMENTS - Assets and Liabilities Not Carried at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Carrying amount (net)
Assets
Notes receivable	$ 3,842	$ 4,113
Liabilities
Borrowings	75,067	90,882
Investment contracts	2,049	2,191
Estimated fair value
Assets
Notes receivable	3,970	4,208
Liabilities
Borrowings	86,171	97,754
Investment contracts	2,547	2,588
Accrued interest	$ 898	$ 1,106

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivatives and Hedging (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative, gross notional	$ 95,874	$ 98,018
GE Capital
Derivative [Line Items]
Derivative, gross notional	45,672	55,704
GE Industrial
Derivative [Line Items]
Derivative, gross notional	$ 50,202	$ 42,314

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Derivative, gross notional	$ 95,874,000,000	$ 98,018,000,000
Amount	3,065,000,000	2,572,000,000
Netting adjustments offset in statement of financial position	(647,000,000)	(546,000,000)
Cash collateral offset in statement of financial position	(1,935,000,000)	(1,286,000,000)
Net derivatives	483,000,000	740,000,000
Net accrued interest	0	182,000,000
Securities held as collateral not offset in statement of financial position	(2,000,000)	(469,000,000)
Net amount	480,000,000	452,000,000
Liabilities
Amount	1,118,000,000	853,000,000
Netting adjustments offset in statement of financial position	(647,000,000)	(546,000,000)
Cash collateral offset in statement of financial position	(104,000,000)	(105,000,000)
Net derivatives	367,000,000	202,000,000
Net accrued interest	0	1,000,000
Securities held as collateral not offset in statement of financial position	0	0
Net amount	367,000,000	203,000,000
Excess cash collateral received	3,000,000	104,000,000
Excess cash collateral posted	805,000,000	603,000,000
Net accrued interest	292,000,000	207,000,000
Net cash collateral posted	802,000,000	499,000,000
Excess securities collateral received	0	27,000,000
GE Capital
Assets
Derivative, gross notional	45,672,000,000	55,704,000,000
Liabilities
Total net cash collateral received on derivatives	3,289,000,000	1,584,000,000
Excess cash collateral received	4,203,000,000	2,294,000,000
Excess cash collateral posted	914,000,000	710,000,000
Interest rate contracts | GE Capital
Liabilities
Total net cash collateral received on derivatives	1,968,000,000	695,000,000
Derivatives accounted for as hedges
Assets
Derivative, gross notional	28,011,000,000	30,961,000,000
Amount	2,077,000,000	1,734,000,000
Liabilities
Amount	135,000,000	57,000,000
Derivatives accounted for as hedges | Interest rate contracts
Assets
Derivative, gross notional	20,500,000,000	23,918,000,000
Amount	1,912,000,000	1,636,000,000
Liabilities
Amount	7,000,000	11,000,000
Derivatives accounted for as hedges | Currency exchange contracts
Assets
Derivative, gross notional	7,512,000,000	7,044,000,000
Amount	165,000,000	99,000,000
Liabilities
Amount	128,000,000	46,000,000
Derivatives not accounted for as hedges
Assets
Derivative, gross notional	67,863,000,000	67,056,000,000
Amount	988,000,000	838,000,000
Liabilities
Amount	983,000,000	796,000,000
Derivatives not accounted for as hedges | Interest rate contracts
Assets
Derivative, gross notional	448,000,000	3,185,000,000
Amount	6,000,000	18,000,000
Liabilities
Amount	1,000,000	12,000,000
Derivatives not accounted for as hedges | Currency exchange contracts
Assets
Derivative, gross notional	65,379,000,000	62,165,000,000
Amount	764,000,000	697,000,000
Liabilities
Amount	913,000,000	744,000,000
Derivatives not accounted for as hedges | Other contracts
Assets
Derivative, gross notional	2,036,000,000	1,706,000,000
Amount	218,000,000	123,000,000
Liabilities
Amount	$ 71,000,000	$ 40,000,000

FINANCIAL INSTRUMENTS - Fair _2

FINANCIAL INSTRUMENTS - Fair Value Hedges (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cumulative amount of fair value hedging adjustments	$ 5,687	$ 4,234
Cumulative amount of fair value hedging on discontinued hedging relationships	2,248	2,458
Hedged liability	$ 29,374	$ 42,759

FINANCIAL INSTRUMENTS - Cash Fl

FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) recognized in AOCI	$ (61)	$ 25	$ (154)
Gain (loss) reclassified from AOCI to earnings	(7)	$ (60)	$ (102)
Pre-tax gain included in AOCI related to cash flow hedges of forecasted transactions	16
Amount of loss expected to be transferred to earnings as an expense	$ 32
Maximum term of hedged forecasted transactions	14 years	13 years	14 years

FINANCIAL INSTRUMENTS - Net Inv

FINANCIAL INSTRUMENTS - Net Investment Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Gain (loss) recognized in AOCI on hedging instruments	$ (675)	$ 120	$ 646
Reclassified from AOCI into earnings	0	7	(1)
Currency exchange contracts
Derivative [Line Items]
Gain (loss) recognized in AOCI on hedging instruments	(41)	(36)	162
Foreign currency debt
Derivative [Line Items]
Gain (loss) recognized in AOCI on hedging instruments	(633)	156	484
Carrying value designated as net investment hedges	$ 8,348	$ 9,190	$ 12,458

FINANCIAL INSTRUMENTS - Effects

FINANCIAL INSTRUMENTS - Effects of Derivative Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total revenues	$ 79,619	$ 95,214	$ 97,012
Cost of goods and services	60,421	66,911
Interest and other financial charges	3,273	4,227	4,766
Selling, general and administrative expenses	12,621	13,949	14,643
Other income	11,387	2,222	2,321
Total effect of cash flow hedges	(7)	(60)	$ (102)
Gain (loss) excluded for cash flow hedges	25	(1)
Revenues
Derivative [Line Items]
Total effect of cash flow hedges	88	5
Total effect of derivatives not designated as hedges	(362)	154
Revenues | Interest rate contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	(35)	(24)
Revenues | Currency exchange contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	(328)	180
Revenues | Other contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	(2)
Cost of sales
Derivative [Line Items]
Total effect of cash flow hedges	(56)	(24)
Total effect of derivatives not designated as hedges	16	(35)
Cost of sales | Interest rate contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	0
Cost of sales | Currency exchange contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	16	(35)
Cost of sales | Other contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	0
Interest Expense
Derivative [Line Items]
Total effect of cash flow hedges	(40)	(37)
Hedged items	(1,775)	(1,276)
Derivatives designated as hedging instruments	1,743	1,229
Total effect of fair value hedges	(31)	(48)
Total effect of derivatives not designated as hedges	(11)	145
Interest Expense | Interest rate contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	(11)	(50)
Interest Expense | Currency exchange contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	0
Interest Expense | Other contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	195
SG&A
Derivative [Line Items]
Total effect of cash flow hedges	1	(3)
Total effect of derivatives not designated as hedges	215	(6)
SG&A | Interest rate contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	0	0
SG&A | Currency exchange contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	129	(6)
SG&A | Other contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	86	0
Other Income
Derivative [Line Items]
Total effect of cash flow hedges	0	0
Total effect of derivatives not designated as hedges	(19)	(58)
Other Income | Interest rate contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	8	(6)
Other Income | Currency exchange contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	19	(59)
Other Income | Other contracts
Derivative [Line Items]
Total effect of derivatives not designated as hedges	$ (46)	$ 7

FINANCIAL INSTRUMENTS - Counter

FINANCIAL INSTRUMENTS - Counterparty Credit Risk (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Net derivative liability	$ 367	$ 203
Counterparty Credit Risk
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Exposure to counterparties including interest net collateral, excluding embedded derivatives	388	368
Net derivative liability	$ 304	$ 159

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)entity	Dec. 31, 2019USD ($)
Variable Interest Entity [Line Items]
Assets	$ 253,452	$ 265,177
Liabilities	216,378	235,316
Consolidated VIE
Variable Interest Entity [Line Items]
Assets	1,888	1,740
Liabilities	812	943
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	3,378	1,937
Energy Financial Services | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	1,141	621
Insurance | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	$ 1,833	$ 896
GE Capital | Consolidated VIE
Variable Interest Entity [Line Items]
Number of VIEs | entity	3

COMMITMENTS, GUARANTEES, PROD_3

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Commitments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)aircraft
GECAS | Aircraft with GE Engines
Other Commitments [Line Items]
Long-term purchase commitment	$ 26,760
Advances on Inventory Purchases	$ 2,871
GECAS | New Aircraft
Other Commitments [Line Items]
Number of aircrafts for delivery | aircraft	279
Percentage of aircrafts to be delivered in 2021	25.00%
Percentage of aircrafts to be delivered in 2022	14.00%
Percentage of aircrafts to be delivered in 2023 through 2026	61.00%
GECAS | Used Aircraft
Other Commitments [Line Items]
Long-term purchase commitment	$ 1,985
Number of aircrafts for delivery | aircraft	43
Percentage of aircrafts to be delivered in 2021	72.00%
Percentage of aircrafts to be delivered in 2022	21.00%
Percentage of aircrafts to be delivered in 2023	7.00%
Aviation
Other Commitments [Line Items]
Financial assistance commitment	$ 1,935
GE Capital | Investment commitments
Other Commitments [Line Items]
Other commitments	1,957
GE Capital | Thermal and wind energy projects
Other Commitments [Line Items]
Other commitments	684
GE Capital | Thermal and wind energy projects, unconsolidated VIE investment commitment
Other Commitments [Line Items]
Other commitments	549
GE Capital | Run-off insurance operations
Other Commitments [Line Items]
Other commitments	1,249
GE Capital | Run-off insurance operations, unconsolidated VIE investment commitment
Other Commitments [Line Items]
Other commitments	$ 1,047

COMMITMENTS, GUARANTEES, PROD_4

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Guarantees (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Liabilities recorded	$ 32,677	$ 33,759
Credit Support
Other Commitments [Line Items]
Other commitments	1,525
Liability for arrangements	46
Indemnification Agreements - Continuing Operations
Other Commitments [Line Items]
Other commitments	1,455
Liabilities recorded	142
Indemnification Agreements - Discontinued Operations
Other Commitments [Line Items]
Liability for arrangements	104
Indemnification Agreements - Discontinued Operations | Maximum
Other Commitments [Line Items]
Other commitments	$ 630

COMMITMENTS, GUARANTEES, PROD_5

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Product Warranties Roll Forward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Standard Product Warranty Accrual
Balance at beginning of period	$ 2,165	$ 2,192	$ 2,103
Current-year provisions	788	713	945
Expenditures	(913)	(715)	(788)
Other changes	14	(26)	(69)
Balance at end of period	$ 2,054	$ 2,165	$ 2,192

COMMITMENTS, GUARANTEES, PROD_6

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Alstom Legacy Legal Matters (Details) € in Millions, $ in Millions	Nov. 02, 2015USD ($)significant_case	Jan. 31, 2017USD ($)	Dec. 31, 2014USD ($)	Jan. 31, 2007EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Loss Contingencies [Line Items]
Reserve balance					$ 858	$ 875
Alstom Legacy Matters
Loss Contingencies [Line Items]
Number of significant cases involving anti-competitive activities and improper payments | significant_case	2
Damages sought		$ 430		€ 65
Reduced fine | €				€ 59
Penalty paid			$ 772
Reserve established for legal and compliance matters	$ 858

COMMITMENTS, GUARANTEES, PROD_7

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Shareholder and Related Lawsuits (Details)	1 Months Ended
	Feb. 28, 2019plantiffclaim	Dec. 31, 2020claimlawsuit	Mar. 31, 2019claim	Nov. 30, 2018
Loss Contingencies [Line Items]
Number of putative class actions	2
Shareholder Derivative Lawsuits
Loss Contingencies [Line Items]
Number of pending lawsuits		6
Touchstone
Loss Contingencies [Line Items]
Number of institutional investors seeking damages | plantiff	6
Baker Hughes Case
Loss Contingencies [Line Items]
Number of pending lawsuits			2
Other GE Retirement Savings Plan Class Actions
Loss Contingencies [Line Items]
Number of putative class actions | lawsuit		4
Baker Hughes | Baker Hughes Case
Loss Contingencies [Line Items]
Ownership interest				12.00%

COMMITMENTS, GUARANTEES, PROD_8

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Other GE Retirement Savings Plan Class Actions (Details)	5 Months Ended
	Dec. 31, 2018claim	Dec. 31, 2020proprietary_fundlawsuit	Feb. 28, 2019claim
Loss Contingencies [Line Items]
Number of putative class actions			2
Other GE Retirement Savings Plan Class Actions
Loss Contingencies [Line Items]
Number of putative class actions | lawsuit		4
Number of proprietary funds | proprietary_fund		5
Number of dismissed complaints	1

COMMITMENTS, GUARANTEES, PROD_9

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - SEC Investigation (Details) $ in Millions	1 Months Ended
	Dec. 31, 2020USD ($)
SEC investigation | Settled litigation
Loss Contingencies [Line Items]
Civil penalty payment	$ 200

COMMITMENTS, GUARANTEES, PRO_10

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Bank BPH (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Total portfolio carrying value	$ 253,452	$ 265,177
Bank BPH | Bank BPH
Related Party Transaction [Line Items]
Percentage indexed to or denominated in foreign currencies	87.00%
Total portfolio carrying value	$ 2,437
Estimated losses	$ 315

COMMITMENTS, GUARANTEES, PRO_11

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES AND OTHER LOSS CONTINGENCIES - Environmental, Health and Safety Matters (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Total reserves related to environmental remediation, nuclear decommissioning and worker exposure claims	$ 2,569	$ 2,484
Expenditures for site remediation, nuclear decommissioning and worker exposure claims	247	$ 236	$ 214
Expected expenditures for site remediation, nuclear decommissioning and worker exposure claims, 2021	350
Expected expenditures for site remediation, nuclear decommissioning and worker exposure claims, 2022	$ 240

INTERCOMPANY TRANSACTIONS (Deta

INTERCOMPANY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	$ 3,597	$ 10,419	$ 3,210
Consolidated cash from (used for) investing activities	16,778	10,684	18,925
Consolidated cash from (used for) financing activities	(19,853)	(15,764)	(27,345)
GE and GE Capital totals
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	2,240	6,495	2,282
Consolidated cash from (used for) investing activities	25,960	13,509	14,915
Consolidated cash from (used for) financing activities	(27,678)	(14,665)	(22,408)
GE and GE Capital totals | GE Industrial current receivables sold to GE Capital
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	(597)	1,081	5
Consolidated cash from (used for) investing activities	496	(1,677)	(839)
Consolidated cash from (used for) financing activities	102	596	835
GE and GE Capital totals | GE Industrial current receivables sold to GE Capital | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Volume of current receivables sold to related party	14,677	14,716	20,675
Collections on current receivables sold to related party	14,079	15,797	20,680
GE and GE Capital totals | GE Industrial long-term receivables sold to GE Capital
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	312	468	1,079
Consolidated cash from (used for) investing activities	(312)	(468)	(1,079)
GE and GE Capital totals | Supply chain finance programs
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	2,002	2,289	(18)
Consolidated cash from (used for) investing activities	(2,002)	(2,289)	18
GE and GE Capital totals | Capital contribution from GE Industrial to GE Capital
Related Party Transaction [Line Items]
Consolidated cash from (used for) investing activities	2,000	4,000	0
Consolidated cash from (used for) financing activities	(2,000)	(4,000)	0
GE and GE Capital totals | GE Capital loans to GE Industrial
Related Party Transaction [Line Items]
Consolidated cash from (used for) investing activities	0	0	6,479
Consolidated cash from (used for) financing activities	0	0	(6,479)
GE and GE Capital totals | Repayment of GE Capital loans by GE Industrial
Related Party Transaction [Line Items]
Consolidated cash from (used for) investing activities	(9,049)	(1,523)	0
Consolidated cash from (used for) financing activities	9,049	1,523	0
Other reclassifications and eliminations
Related Party Transaction [Line Items]
Consolidated cash from (used for) operating activities	(360)	86	(138)
Consolidated cash from (used for) investing activities	(315)	(868)	(570)
Consolidated cash from (used for) financing activities	$ 675	$ 782	$ 706

OPERATING SEGMENTS - Reconcilia

OPERATING SEGMENTS - Reconciliation of Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 79,619	$ 95,214	$ 97,012
Capital
Segment Reporting Information [Line Items]
Total revenues	6,679	7,770	8,167
GE Industrial
Segment Reporting Information [Line Items]
Total revenues	73,100	87,719	89,038
Operating segments | Capital
Segment Reporting Information [Line Items]
Total revenues	7,245	8,741	9,551
Corporate items and eliminations
Segment Reporting Information [Line Items]
Total revenues	(932)	(305)	673
Corporate items and eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(206)	940	2,250
GE Capital-GE Industrial eliminations
Segment Reporting Information [Line Items]
Total revenues	2,507	2,225	2,097
GE Capital-GE Industrial eliminations | Capital
Segment Reporting Information [Line Items]
Total revenues	(566)	(971)	(1,384)
Corporate, non-segment
Segment Reporting Information [Line Items]
Total revenues	1,575	1,920	2,770
Power | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	17,237	18,267	21,997
Power | Operating segments | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	17,589	18,625	22,150
Power | GE Capital-GE Industrial eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(352)	(357)	(152)
Renewable Energy | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	15,523	15,198	14,102
Renewable Energy | Operating segments | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	15,666	15,337	14,288
Renewable Energy | GE Capital-GE Industrial eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(142)	(139)	(186)
Aviation | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	20,597	32,117	30,191
Aviation | Operating segments | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	22,042	32,875	30,566
Aviation | GE Capital-GE Industrial eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(1,445)	(758)	(375)
Healthcare | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	18,008	19,942	19,784
Healthcare | Operating segments | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	18,009	19,942	19,784
Healthcare | GE Capital-GE Industrial eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	$ (1)	$ 0	$ 0

OPERATING SEGMENTS - Equipment

OPERATING SEGMENTS - Equipment and Services Revenues Classification (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Consolidated Revenues	$ 79,619	$ 95,214	$ 97,012
GE Industrial
Segment Reporting Information [Line Items]
Consolidated Revenues	73,100	87,719	89,038
Corporate items and eliminations
Segment Reporting Information [Line Items]
Consolidated Revenues	(932)	(305)	673
GE Industrial
Segment Reporting Information [Line Items]
Consolidated Revenues	73,100	87,719	89,038
GE Industrial | Corporate items and eliminations
Segment Reporting Information [Line Items]
Consolidated Revenues	(206)	940	2,250
GE Industrial | Equipment
Segment Reporting Information [Line Items]
Consolidated Revenues	37,620	43,080	43,679
GE Industrial | Equipment | Corporate items and eliminations
Segment Reporting Information [Line Items]
Consolidated Revenues	(520)	243	1,263
GE Industrial | Services Revenues
Segment Reporting Information [Line Items]
Consolidated Revenues	35,480	44,639	45,359
GE Industrial | Services Revenues | Corporate items and eliminations
Segment Reporting Information [Line Items]
Consolidated Revenues	314	697	987
GE Industrial | Power
Segment Reporting Information [Line Items]
Consolidated Revenues	17,237	18,267	21,997
GE Industrial | Power | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	17,589	18,625	22,150
GE Industrial | Power | Equipment | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	6,707	6,247	8,077
GE Industrial | Power | Services Revenues | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	10,883	12,378	14,073
GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Consolidated Revenues	15,523	15,198	14,102
GE Industrial | Renewable Energy | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	15,666	15,337	14,288
GE Industrial | Renewable Energy | Equipment | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	12,859	12,267	11,419
GE Industrial | Renewable Energy | Services Revenues | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	2,807	3,069	2,870
GE Industrial | Aviation
Segment Reporting Information [Line Items]
Consolidated Revenues	20,597	32,117	30,191
GE Industrial | Aviation | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	22,042	32,875	30,566
GE Industrial | Aviation | Equipment | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	8,582	12,737	11,499
GE Industrial | Aviation | Services Revenues | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	13,460	20,138	19,067
GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Consolidated Revenues	18,008	19,942	19,784
GE Industrial | Healthcare | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	18,009	19,942	19,784
GE Industrial | Healthcare | Equipment | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	9,992	11,585	11,422
GE Industrial | Healthcare | Services Revenues | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	8,017	8,357	8,363
Capital
Segment Reporting Information [Line Items]
Consolidated Revenues	6,679	7,770	8,167
Capital | Operating segments
Segment Reporting Information [Line Items]
Consolidated Revenues	$ 7,245	$ 8,741	$ 9,551

OPERATING SEGMENTS - Geographic

OPERATING SEGMENTS - Geographic Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 79,619	$ 95,214	$ 97,012
GE Industrial
Segment Reporting Information [Line Items]
Total revenues	73,100	87,719	89,038
GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	17,237	18,267	21,997
GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	15,523	15,198	14,102
GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	20,597	32,117	30,191
GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	18,008	19,942	19,784
Capital
Segment Reporting Information [Line Items]
Total revenues	6,679	7,770	8,167
U.S.
Segment Reporting Information [Line Items]
Total revenues	35,314	39,372	39,876
Europe
Segment Reporting Information [Line Items]
Total revenues	15,733	19,092	19,828
Asia
Segment Reporting Information [Line Items]
Total revenues	16,216	20,156	19,300
Americas
Segment Reporting Information [Line Items]
Total revenues	4,701	6,336	7,892
Middle East and Africa
Segment Reporting Information [Line Items]
Total revenues	7,655	10,259	10,117
Non-U.S.
Segment Reporting Information [Line Items]
Total revenues	$ 44,305	$ 55,843	$ 57,136
Non-U.S. | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	56.00%	59.00%	59.00%
Operating segments | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	$ 17,589	$ 18,625	$ 22,150
Operating segments | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	15,666	15,337	14,288
Operating segments | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	22,042	32,875	30,566
Operating segments | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	18,009	19,942	19,784
Operating segments | Capital
Segment Reporting Information [Line Items]
Total revenues	7,245	8,741	9,551
Operating segments | U.S. | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	6,186	5,992	7,456
Operating segments | U.S. | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	7,846	7,413	4,912
Operating segments | U.S. | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	11,239	13,384	12,529
Operating segments | U.S. | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	7,611	8,526	8,574
Operating segments | U.S. | Capital
Segment Reporting Information [Line Items]
Total revenues	3,550	4,149	5,282
Operating segments | Europe | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	2,895	3,140	4,538
Operating segments | Europe | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	3,047	2,925	3,212
Operating segments | Europe | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	4,288	7,452	7,027
Operating segments | Europe | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	3,952	4,132	4,164
Operating segments | Europe | Capital
Segment Reporting Information [Line Items]
Total revenues	1,395	1,577	1,383
Operating segments | Asia | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	3,961	4,018	4,072
Operating segments | Asia | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	2,640	2,737	2,933
Operating segments | Asia | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	3,920	6,641	5,787
Operating segments | Asia | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	4,719	5,436	5,219
Operating segments | Asia | Capital
Segment Reporting Information [Line Items]
Total revenues	997	1,454	1,368
Operating segments | Americas | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	1,483	1,915	2,546
Operating segments | Americas | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	819	1,064	2,179
Operating segments | Americas | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	882	1,593	1,459
Operating segments | Americas | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	879	1,056	988
Operating segments | Americas | Capital
Segment Reporting Information [Line Items]
Total revenues	639	742	632
Operating segments | Middle East and Africa | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	3,064	3,560	3,538
Operating segments | Middle East and Africa | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	1,314	1,198	1,052
Operating segments | Middle East and Africa | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	1,713	3,805	3,764
Operating segments | Middle East and Africa | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	848	792	839
Operating segments | Middle East and Africa | Capital
Segment Reporting Information [Line Items]
Total revenues	664	819	886
Operating segments | Non-U.S. | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	$ 11,403	$ 12,633	$ 14,694
Operating segments | Non-U.S. | GE Industrial | Power | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	65.00%	68.00%	66.00%
Operating segments | Non-U.S. | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	$ 7,820	$ 7,924	$ 9,376
Operating segments | Non-U.S. | GE Industrial | Renewable Energy | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	50.00%	52.00%	66.00%
Operating segments | Non-U.S. | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	$ 10,803	$ 19,491	$ 18,037
Operating segments | Non-U.S. | GE Industrial | Aviation | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	49.00%	59.00%	59.00%
Operating segments | Non-U.S. | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	$ 10,398	$ 11,416	$ 11,210
Operating segments | Non-U.S. | GE Industrial | Healthcare | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	58.00%	57.00%	57.00%
Operating segments | Non-U.S. | Capital
Segment Reporting Information [Line Items]
Total revenues	$ 3,695	$ 4,592	$ 4,269
Operating segments | Non-U.S. | Capital | Revenue benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	51.00%	53.00%	45.00%
Corporate items and eliminations
Segment Reporting Information [Line Items]
Total revenues	$ (932)	$ (305)	$ 673
Corporate items and eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(206)	940	2,250
Corporate items and eliminations | U.S.
Segment Reporting Information [Line Items]
Total revenues	(1,117)	(93)	1,124
Corporate items and eliminations | Europe
Segment Reporting Information [Line Items]
Total revenues	155	(135)	(496)
Corporate items and eliminations | Asia
Segment Reporting Information [Line Items]
Total revenues	(20)	(130)	(79)
Corporate items and eliminations | Americas
Segment Reporting Information [Line Items]
Total revenues	(2)	(33)	87
Corporate items and eliminations | Middle East and Africa
Segment Reporting Information [Line Items]
Total revenues	52	86	37
Corporate items and eliminations | Non-U.S.
Segment Reporting Information [Line Items]
Total revenues	$ 185	$ (212)	$ (451)

OPERATING SEGMENTS - Segment Re

OPERATING SEGMENTS - Segment Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 79,619	$ 95,214	$ 97,012
Capital
Segment Reporting Information [Line Items]
Total revenues	6,679	7,770	8,167
GE Industrial
Segment Reporting Information [Line Items]
Total revenues	73,100	87,719	89,038
GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	17,237	18,267	21,997
GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	15,523	15,198	14,102
GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	20,597	32,117	30,191
GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	18,008	19,942	19,784
Operating segments | Capital
Segment Reporting Information [Line Items]
Total revenues	7,245	8,741	9,551
Operating segments | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	17,589	18,625	22,150
Operating segments | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	15,666	15,337	14,288
Operating segments | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	22,042	32,875	30,566
Operating segments | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	18,009	19,942	19,784
Corporate items and eliminations
Segment Reporting Information [Line Items]
Total revenues	(932)	(305)	673
Corporate items and eliminations | GE Industrial
Segment Reporting Information [Line Items]
Total revenues	(206)	940	2,250
Eliminations
Segment Reporting Information [Line Items]
Total revenues	(726)	(1,245)	(1,577)
Gas Power | Operating segments | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	12,655	13,122	13,296
Power Portfolio | Operating segments | GE Industrial | Power
Segment Reporting Information [Line Items]
Total revenues	4,935	5,503	8,853
Onshore Wind | Operating segments | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	10,881	10,421	8,220
Grid Solutions equipment and services | Operating segments | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	3,585	4,016	4,579
Hydro, Offshore Wind and Hybrid Solutions | Operating segments | GE Industrial | Renewable Energy
Segment Reporting Information [Line Items]
Total revenues	1,200	900	1,489
Commercial Engines & Services | Operating segments | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	13,017	24,217	22,724
Military | Operating segments | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	4,572	4,389	4,103
Systems & Other | Operating segments | GE Industrial | Aviation
Segment Reporting Information [Line Items]
Total revenues	4,453	4,269	3,740
Healthcare Systems | Operating segments | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	15,387	14,648	14,886
Pharmaceutical Diagnostics | Operating segments | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	1,792	2,005	1,888
BioPharma | Operating segments | GE Industrial | Healthcare
Segment Reporting Information [Line Items]
Total revenues	$ 830	$ 3,289	$ 3,010

OPERATING SEGMENTS - Narrative

OPERATING SEGMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Performance obligations expected to be satisfied	$ 230,600
Property, plant and equipment - net	44,662	$ 45,879
U.S.
Segment Reporting Information [Line Items]
Property, plant and equipment - net	13,010	13,447
Non-U.S.
Segment Reporting Information [Line Items]
Property, plant and equipment - net	31,651	$ 32,432
Equipment
Segment Reporting Information [Line Items]
Performance obligations expected to be satisfied	45,991
Services Revenues
Segment Reporting Information [Line Items]
Performance obligations expected to be satisfied	$ 184,608
Revenue benchmark | Customer Concentration Risk | Aviation
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	6.00%	5.00%	4.00%
Revenue benchmark | Agencies of the U.S. Government | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percentage)	7.00%	5.00%	5.00%

OPERATING SEGMENTS - Remaining

OPERATING SEGMENTS - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01	Dec. 31, 2020
Performance Obligation Satisfaction, Period One | Equipment Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	58.00%
Performance obligations expected to be satisfied, expected timing	1 year
Performance Obligation Satisfaction, Period One | Services Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	14.00%
Performance obligations expected to be satisfied, expected timing	1 year
Performance Obligation Satisfaction, Period Two | Equipment Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	80.00%
Performance obligations expected to be satisfied, expected timing	2 years
Performance Obligation Satisfaction, Period Two | Services Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	45.00%
Performance obligations expected to be satisfied, expected timing	5 years
Performance Obligation Satisfaction, Period Three | Equipment Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	98.00%
Performance obligations expected to be satisfied, expected timing	5 years
Performance Obligation Satisfaction, Period Three | Services Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	65.00%
Performance obligations expected to be satisfied, expected timing	10 years
Performance Obligation Satisfaction, Period Four | Services Revenues
Segment Reporting Information [Line Items]
Performance obligation expected to be satisfied (as a percentage)	81.00%
Performance obligations expected to be satisfied, expected timing	15 years

OPERATING SEGMENTS - Reconcil_2

OPERATING SEGMENTS - Reconciliation of Profit and Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Goodwill impairments	$ (1,717)	$ (1,486)	$ (22,136)
Interest and other financial charges	(3,273)	(4,227)	(4,766)
Non-operating benefit costs	(2,433)	(2,844)	(2,753)
Benefit (provision) for income taxes	474	(726)	(93)
Earnings (loss) from continuing operations attributable to GE common shareholders	5,355	(44)	(21,438)
Earnings (loss) from discontinued operations, net of taxes	(125)	(5,335)	(1,363)
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations	0	60	1
Earnings (loss) from discontinued operations, net of taxes	(125)	(5,395)	(1,364)
Net earnings (loss) attributable to GE common shareholders	5,230	(5,439)	(22,802)
GE Industrial
Segment Reporting Information [Line Items]
Goodwill impairments	(877)	(1,486)	(22,136)
Interest and other financial charges	(1,333)	(2,115)	(2,415)
Non-operating benefit costs	(2,424)	(2,828)	(2,740)
Benefit (provision) for income taxes	(388)	(1,309)	(467)
Earnings (loss) from continuing operations attributable to GE common shareholders	7,065	486	(20,949)
Earnings (loss) from discontinued operations, net of taxes	(35)	(5,527)	307
Less net earnings (loss) attributable to noncontrolling interests, discontinued operations	0	60	1
Net earnings (loss) attributable to GE common shareholders	7,029	(5,101)	(20,643)
Capital
Segment Reporting Information [Line Items]
Goodwill impairments	(839)	0
Operating segments
Segment Reporting Information [Line Items]
Total segment profit	2,138	9,519	8,521
Operating segments | Capital
Segment Reporting Information [Line Items]
Total segment profit	(1,710)	(530)	(489)
Interest and other financial charges	(2,186)	(2,532)	(2,982)
Benefit (provision) for income taxes	862	582	374
Corporate items and eliminations
Segment Reporting Information [Line Items]
Total segment profit	8,239	(1,825)	(2,201)
Interest and other financial charges	(1,087)	(1,695)	(1,784)
Benefit (provision) for income taxes	(388)	(1,309)	(467)
Power | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Total segment profit	274	291	(1,105)
Renewable Energy | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Total segment profit	(715)	(791)	140
Aviation | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Total segment profit	1,229	6,812	6,454
Healthcare | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Total segment profit	$ 3,060	$ 3,737	$ 3,522

OPERATING SEGMENTS - Reconcil_3

OPERATING SEGMENTS - Reconciliation of Interest and Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Interest and other financial charges	$ 3,273	$ 4,227	$ 4,766
Benefit (provision) for income taxes	474	(726)	(93)
Operating segments | Capital
Segment Reporting Information [Line Items]
Interest and other financial charges	2,186	2,532	2,982
Benefit (provision) for income taxes	862	582	374
Corporate items and eliminations
Segment Reporting Information [Line Items]
Interest and other financial charges	1,087	1,695	1,784
Benefit (provision) for income taxes	$ (388)	$ (1,309)	$ (467)

OPERATING SEGMENTS - Reconcil_4

OPERATING SEGMENTS - Reconciliation of Assets, Property, Plant and Equipment Additions and Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 253,452	$ 265,177
Equity in earnings (loss) of affiliates	104	423	$ (233)
Capital
Segment Reporting Information [Line Items]
Equity in earnings (loss) of affiliates	77	217	(254)
Continuing Operations
Segment Reporting Information [Line Items]
Assets	249,920	261,068	246,686
Property, plant and equipment additions	3,252	5,813	6,632
Depreciation and amortization	6,018	5,595	6,582
Continuing Operations | Operating segments | Capital
Segment Reporting Information [Line Items]
Assets	113,526	117,546	119,329
Property, plant and equipment additions	1,765	3,830	4,569
Depreciation and amortization	2,590	2,083	2,163
Continuing Operations | Corporate items and eliminations
Segment Reporting Information [Line Items]
Assets	35,151	29,269	18,043
Property, plant and equipment additions	(51)	(175)	(46)
Depreciation and amortization	494	355	763
Power | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Equity in earnings (loss) of affiliates	43	(4)	(20)
Power | Continuing Operations | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Assets	24,453	26,731	27,389
Property, plant and equipment additions	245	277	358
Depreciation and amortization	749	880	1,307
Renewable Energy | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Equity in earnings (loss) of affiliates	13	(2)	(1)
Renewable Energy | Continuing Operations | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Assets	15,927	15,935	16,400
Property, plant and equipment additions	302	455	303
Depreciation and amortization	413	425	474
Aviation | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Equity in earnings (loss) of affiliates	(41)	204	126
Aviation | Continuing Operations | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Assets	38,634	41,083	37,488
Property, plant and equipment additions	737	1,031	1,070
Depreciation and amortization	1,142	1,150	1,042
Healthcare | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Equity in earnings (loss) of affiliates	7	19	16
Healthcare | Continuing Operations | Operating segments | Industrial segment
Segment Reporting Information [Line Items]
Assets	22,229	30,503	28,037
Property, plant and equipment additions	256	395	378
Depreciation and amortization	$ 628	$ 702	$ 832

OPERATING SEGMENTS - Assets by

OPERATING SEGMENTS - Assets by Geographic Area (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 253,452	$ 265,177
Continuing Operations
Segment Reporting Information [Line Items]
Assets	249,920	261,068	$ 246,686
Continuing Operations | U.S.
Segment Reporting Information [Line Items]
Assets	148,963	143,534
Continuing Operations | Europe
Segment Reporting Information [Line Items]
Assets	58,301	70,565
Continuing Operations | Asia
Segment Reporting Information [Line Items]
Assets	20,630	22,089
Continuing Operations | Americas
Segment Reporting Information [Line Items]
Assets	10,795	13,435
Continuing Operations | Other Global
Segment Reporting Information [Line Items]
Assets	11,230	11,445
Continuing Operations | Total Non-U.S.
Segment Reporting Information [Line Items]
Assets	$ 100,956	$ 117,534

BAKER HUGHES SUMMARIZED FINAN_3

BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		4 Months Ended	12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Net pre-tax gain (loss)				$ (1,670)	$ 800
Proceeds received from sale		$ 417
Total revenues				79,619	95,214	$ 97,012
Net earnings (loss)				5,546	(4,912)	(22,443)
Net earnings (loss) attributable to the Company				5,704	(4,979)	$ (22,355)
Current assets			$ 103,096	88,412	103,096
Total assets			265,177	253,452	265,177
Current liabilities			78,865	56,069	78,865
Total liabilities			235,316	$ 216,378	235,316
Subsequent Event
Schedule of Equity Method Investments [Line Items]
Proceeds received from sale	$ 735
Baker Hughes
Schedule of Equity Method Investments [Line Items]
Remaining interest (in shares)				349.4
Ownership interest, equity method (as a percentage)				33.80%
Fair value of investment			$ 9,888	$ 7,319	9,888
Net pre-tax gain (loss)				(2,037)	793
Net after-tax gain (loss)				$ (1,562)	$ 626
Share price (in dollars per share)			$ 25.63	$ 20.85	$ 25.63
Derivative loss on sale				$ 54
Shares sold (in shares)		28
Total revenues			$ 7,751	20,705
Gross profit from sales			1,558	3,199
Net earnings (loss)			120	(15,761)
Net earnings (loss) attributable to the Company			60	(9,940)
Current assets			15,222	16,455	$ 15,222
Noncurrent assets			38,147	21,552	38,147
Total assets			53,369	38,007	53,369
Current liabilities			10,014	10,227	10,014
Noncurrent liabilities			8,857	9,538	8,857
Total liabilities			18,871	19,765	18,871
Noncontrolling interests			$ 12,570	$ 5,349	$ 12,570
Baker Hughes | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Shares sold (in shares)	38