GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

In conjunction with the GE Vernova separation, we changed our segment reporting structure. As a result, all prior period balances for those segments were updated to reflect this change.


	Commercial Engines & Services		Defense & Propulsion Technologies		Total


Balance at January 1, 2024	$	6,472	$	2,476	$	8,948
Goodwill adjustments(a)	(70)		(19)		(88)
Balance at June 30, 2024	$	6,402	$	2,457	$	8,859

(a) Goodwill adjustments are primarily related to foreign currency exchange.

The composition of our reporting units for evaluation of goodwill impairment has changed. As a result, we allocated goodwill among new and realigned reporting units using a relative fair value approach and performed assessments for the new reporting units. We continue to monitor our Additive reporting unit, which was not impacted by the reorganization, in our Defense & Propulsion Technologies segment as the fair value of this reporting unit was not significantly in excess of its carrying value based on the results of our most recent annual impairment test, performed in the fourth quarter of 2023. If the operating results and cash flow forecasts of the Additive reporting unit deteriorate, we may be required to impair some or all of the goodwill. At June 30, 2024, our Additive reporting unit had goodwill of $241 million.

Substantially all other intangible assets are subject to amortization. Intangible assets decreased $248 million during the six months ended June 30, 2024, primarily as a result of amortization and the classification of our non-core licensing business as held for sale. Consolidated amortization expense was $83 million and $96 million in the three months ended, and $172 million and $184 million in the six months ended,June 30, 2024 and 2023, respectively.