10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____ to ____

Commission file number 001-41528

GE HEALTHCARE TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

Delaware	88-2515116
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
500 W. Monroe Street, Chicago, IL	60661
(Address of principal executive offices)	(Zip Code)

(Registrant’s telephone number, including area code) (833) 735-1139

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.01 per share	GEHC	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☑	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

There were 456,662,253 shares of common stock with a par value of $0.01 per share outstanding as of July 24, 2024.

Table of Contents
		Page
Forward-Looking Statements		3
Part I.	Financial Information
Item 1.	Condensed Consolidated Financial Statements (Unaudited)
	Condensed Consolidated Statements of Income	5
	Condensed Consolidated Statements of Comprehensive Income (Loss)	6
	Condensed Consolidated Statements of Financial Position	7
	Condensed Consolidated Statements of Changes in Equity	8
	Condensed Consolidated Statements of Cash Flows	10
	Notes to the Condensed Consolidated Financial Statements (Unaudited)	11
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”)	29
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	42
Item 4.	Controls and Procedures	42
Part II.	Other Information
Item 1.	Legal Proceedings	42
Item 1A.	Risk Factors	42
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	42
Item 3.	Defaults Upon Senior Securities	42
Item 4.	Mine Safety Disclosures	42
Item 5.	Other Information	43
Item 6.	Exhibits	43
Signatures		44

2

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “potential,” “position,” “forecast,” “target,” “guidance,” “outlook,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about our business; financial performance, financial condition, and results of operations, including revenue, revenue growth, profit, taxes, earnings per share, and cash flows; the impacts of macroeconomic and market conditions and volatility on our business operations, financial results, and financial position and on supply chains and the world economy; our cost structure; our funding and liquidity; the impacts on our business of manufacturing, sourcing, and supply chain management; the Russia and Ukraine conflict; our operations as a stand-alone company; and risks related to foreign currency exchange, interest rates, and commodity price volatility. These forward-looking statements involve risks and uncertainties, many of which are beyond our control. Factors that could cause our actual results to differ materially from those described in our forward-looking statements include, but are not limited to, operating in highly competitive markets; our ability to successfully complete strategic transactions; the actions or inactions of third parties with whom we partner and the various collaboration, licensing, and other partnerships and alliances we have with third parties; demand for our products, services, or solutions and factors that affect that demand; management of our supply chain and our ability to cost-effectively secure the materials we need to operate our business; disruptions in our operations; changes in third-party and government reimbursement processes, rates, contractual relationships, and mix of public and private payers, including related to government shutdowns; the delayed China stimulus and the ongoing anti-corruption campaign; our ability to attract and/or retain key personnel and qualified employees; global geopolitical and economic instability, including as a result of the conflict between Ukraine and Russia, the conflict in Israel and surrounding areas, and the actions in the Red Sea region; public health crises, epidemics, and pandemics, and their effects on our business; maintenance and protection of our intellectual property rights, as well as maintenance of successful research and development efforts with respect to commercially successful products and technologies; the impact of potential information technology, cybersecurity, or data security breaches; compliance with the various legal, regulatory, tax, privacy, and other laws to which we are subject, such as the Foreign Corrupt Practices Act and similar anti-corruption and anti-bribery laws globally, and related changes, claims, inquiries, investigations, or actions; our ability to control increases in healthcare costs and any subsequent effect on demand for our products, services, or solutions; the impacts related to our increasing focus on and investment in cloud, edge, artificial intelligence, and software offerings; the impact of potential product liability claims; environmental, social, and governance matters; our ability to operate effectively as an independent, publicly traded company; and our level of indebtedness, as well as our general ability to comply with covenants under our debt instruments, and any related effect on our business. Please also see the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the United States Securities and Exchange Commission (“SEC”) and any updates or amendments we make in future filings. There may be other factors not presently known to us or which we currently consider to be immaterial that could cause our actual results to differ materially from those projected in any forward-looking statements we make. We do not undertake any obligation to update or revise our forward-looking statements except as required by applicable law or regulation.

3

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Part I. Financial Information
Index
Item 1. Condensed Consolidated Financial Statements (Unaudited)	Page
Condensed Consolidated Statements of Income	5
Condensed Consolidated Statements of Comprehensive Income (Loss)	6
Condensed Consolidated Statements of Financial Position	7
Condensed Consolidated Statements of Changes in Equity	8
Condensed Consolidated Statements of Cash Flows	10
Notes to the Condensed Consolidated Financial Statements (Unaudited)	11
Note 1. Organization and Basis of Presentation	11
Note 2. Revenue Recognition	12
Note 3. Segment Information	13
Note 4. Receivables	14
Note 5. Financing Receivables	14
Note 6. Leases	14
Note 7. Acquisitions, Goodwill, and Other Intangible Assets	15
Note 8. Borrowings	15
Note 9. Postretirement Benefit Plans	16
Note 10. Income Taxes	17
Note 11. Accumulated Other Comprehensive Income (Loss) – Net	18
Note 12. Financial Instruments and Fair Value Measurements	19
Note 13. Commitments, Guarantees, Product Warranties, and Other Loss Contingencies	23
Note 14. Restructuring and Other Activities – Net	24
Note 15. Earnings Per Share	25
Note 16. Supplemental Financial Information	25
Note 17. Related Parties and Transition Services Agreement	28
Note 18. Subsequent Events	28

4

Condensed Consolidated Statements of Income (Unaudited)
	For the three months ended June 30				For the six months ended June 30
(In millions, except per share amounts)	2024		2023		2024		2023
Sales of products	$	3,207	$	3,213	$	6,253	$	6,344
Sales of services	1,632		1,604		3,237		3,180
Total revenues	4,839		4,817		9,489		9,524
Cost of products	2,045		2,084		4,012		4,121
Cost of services	792		793		1,574		1,572
Gross profit	2,002		1,940		3,904		3,831
Selling, general, and administrative	1,067		1,072		2,105		2,134
Research and development	327		298		651		568
Total operating expenses	1,395		1,370		2,756		2,702
Operating income	608		570		1,148		1,129
Interest and other financial charges – net	131		137		254		273
Non-operating benefit (income) costs	(101)		(123)		(204)		(238)
Other (income) expense – net	(1)		(14)		8		(22)
Income before income taxes	578		570		1,090		1,116
Benefit (provision) for income taxes	(143)		(137)		(267)		(300)
Net income	435		433		823		816
Net (income) loss attributable to noncontrolling interests	(7)		(15)		(21)		(26)
Net income attributable to GE HealthCare	428		418		802		790
Deemed preferred stock dividend of redeemable noncontrolling interest	—		—		—		(183)
Net income attributable to GE HealthCare common stockholders	$	428	$	418	$	802	$	607
Earnings per share attributable to GE HealthCare common stockholders:
Basic	$	0.94	$	0.92	$	1.76	$	1.34
Diluted	$	0.93	$	0.91	$	1.75	$	1.33
Weighted-average number of shares outstanding:
Basic	457		455		456		455
Diluted	459		458		459		458

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
	For the three months ended June 30				For the six months ended June 30
(In millions, net of tax)	2024		2023		2024		2023
Net income attributable to GE HealthCare	$	428	$	418	$	802	$	790
Net income (loss) attributable to noncontrolling interests	7		15		21		26
Net income	435		433		823		816
Other comprehensive income (loss):
Currency translation adjustments – net of taxes	(30)		3		(106)		60
Pension and Other Postretirement Plans – net of taxes	(36)		(18)		(71)		(83)
Cash flow hedges – net of taxes	8		10		24		(29)
Other comprehensive income (loss)	(58)		(5)		(154)		(52)
Comprehensive income (loss)	377		428		669		764
Less: Comprehensive income (loss) attributable to noncontrolling interests	7		15		21		26
Comprehensive income attributable to GE HealthCare	$	370	$	413	$	648	$	738

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Condensed Consolidated Statements of Financial Position (Unaudited)
	As of
(In millions, except share and per share amounts)	June 30, 2024		December 31, 2023
Cash, cash equivalents, and restricted cash	$	2,015	$	2,504
Receivables – net of allowances of $103 and $98	3,343		3,525
Due from related parties	11		32
Inventories	2,023		1,960
Contract and other deferred assets	977		1,000
All other current assets	437		389
Current assets	8,806		9,410
Property, plant, and equipment – net	2,458		2,500
Goodwill	13,116		12,936
Other intangible assets – net	1,195		1,253
Deferred income taxes	4,365		4,474
All other non-current assets	1,913		1,881
Total assets	$	31,852	$	32,454
Short-term borrowings	$	1,007	$	1,006
Accounts payable	2,824		2,947
Due to related parties	27		99
Contract liabilities	1,876		1,918
Current compensation and benefits	1,235		1,518
All other current liabilities	1,348		1,493
Current liabilities	8,318		8,981
Long-term borrowings	8,233		8,436
Non-current compensation and benefits	5,455		5,782
Deferred income taxes	55		68
All other non-current liabilities	1,796		1,877
Total liabilities	23,858		25,144
Commitments and contingencies
Redeemable noncontrolling interests	177		165
Common stock, par value $0.01 per share, 1,000,000,000 shares authorized, 456,654,068 shares issued and outstanding as of June 30, 2024; 455,342,290 shares issued and outstanding as of December 31, 2023	5		5
Additional paid-in capital	6,540		6,493
Retained earnings	2,101		1,326
Accumulated other comprehensive income (loss) – net	(845)		(691)
Total equity attributable to GE HealthCare	7,801		7,133
Noncontrolling interests	16		12
Total equity	7,817		7,145
Total liabilities, redeemable noncontrolling interests, and equity	$	31,852	$	32,454

The accompanying notes are an integral part of these condensed consolidated financial statements.

7

Condensed Consolidated Statements of Changes in Equity (Unaudited)
	Common stock
(In millions)	Common shares outstanding	Par value		Additional paid-in capital		Retained earnings		Accumulated other comprehensive income (loss) – net		Equity attributable to noncontrolling interests		Total equity
Balances as of March 31, 2024	456	$	5	$	6,504	$	1,687	$	(787)	$	14	$	7,423
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	—	—		—		—		—		—		—
Net income attributable to GE HealthCare	—	—		—		428		—		—		428
Dividends declared ($0.03 per common share)	—	—		—		(14)		—		—		(14)
Other comprehensive income (loss) attributable to GE HealthCare	—	—		—		—		(58)		—		(58)
Changes in equity attributable to noncontrolling interests	—	—		—		—		—		2		2
Share-based compensation	—	—		36		—		—		—		36
Balances as of June 30, 2024	457	$	5	$	6,540	$	2,101	$	(845)	$	16	$	7,817

	Common stock
(In millions)	Common shares outstanding	Par value		Additional paid-in capital		Retained earnings		Net parent investment		Accumulated other comprehensive income (loss) – net		Equity attributable to noncontrolling interests		Total equity
Balances as of March 31, 2023	455	$	5	$	6,425	$	185	$	—	$	75	$	6	$	6,696
Net transfers from GE, including Spin-Off-related adjustments	—	—		—		—		(9)		—		3		(6)
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment	—	—		(9)		—		9		—		—		—
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	—	—		7		—		—		—		—		7
Net income attributable to GE HealthCare	—	—		—		418		—		—		—		418
Dividends declared ($0.06 per common share)	—	—		—		(27)		—		—		—		(27)
Other comprehensive income (loss) attributable to GE HealthCare	—	—		—		—		—		(5)		—		(5)
Changes in equity attributable to noncontrolling interests	—	—		—		—		—		—		3		3
Share-based compensation	—	—		28		—		—		—		—		28
Balances as of June 30, 2023	455	$	5	$	6,451	$	576	$	—	$	70	$	12	$	7,114

The accompanying notes are an integral part of these condensed consolidated financial statements.

8

Condensed Consolidated Statements of Changes in Equity (Unaudited)
	Common stock
(In millions)	Common shares outstanding	Par value		Additional paid-in capital		Retained earnings		Accumulated other comprehensive income (loss) – net		Equity attributable to noncontrolling interests		Total equity
Balances as of December 31, 2023	455	$	5	$	6,493	$	1,326	$	(691)	$	12	$	7,145
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	1	—		(24)		—		—		—		(24)
Net income attributable to GE HealthCare	—	—		—		802		—		—		802
Dividends declared ($0.06 per common share)	—	—		—		(28)		—		—		(28)
Other comprehensive income (loss) attributable to GE HealthCare	—	—		—		—		(154)		—		(154)
Changes in equity attributable to noncontrolling interests	—	—		—		—		—		4		4
Share-based compensation	—	—		70		—		—		—		70
Balances as of June 30, 2024	457	$	5	$	6,540	$	2,101	$	(845)	$	16	$	7,817

	Common stock
(In millions)	Common shares outstanding	Par value		Additional paid-in capital		Retained earnings		Net parent investment		Accumulated other comprehensive income (loss) – net		Equity attributable to noncontrolling interests		Total equity
Balances as of December 31, 2022	—	$	—	$	—	$	—	$	11,235	$	(1,878)	$	5	$	9,362
Net transfers from GE, including Spin-Off-related adjustments	—	—		—		—		(4,842)		2,000		2		(2,840)
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment	454	5		6,388		—		(6,393)		—		—		—
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	1	—		11		—		—		—		—		11
Net income attributable to GE HealthCare	—	—		—		790		—		—		—		790
Dividends declared ($0.06 per common share)	—	—		—		(27)		—		—		—		(27)
Other comprehensive income (loss) attributable to GE HealthCare	—	—		—		—		—		(52)		—		(52)
Changes in equity attributable to noncontrolling interests	—	—		—		—		—		—		5		5
Share-based compensation	—	—		52		—		—		—		—		52
Changes in equity due to redemption value adjustments on redeemable noncontrolling interests	—	—		—		(187)		—		—		—		(187)
Balances as of June 30, 2023	455	$	5	$	6,451	$	576	$	—	$	70	$	12	$	7,114

The accompanying notes are an integral part of these condensed consolidated financial statements.

9

Condensed Consolidated Statements of Cash Flows (Unaudited)
	For the six months ended June 30
(In millions)	2024		2023
Net income	$	823	$	816
Adjustments to reconcile Net income to Cash from (used for) operating activities
Depreciation of property, plant, and equipment	137		124
Amortization of intangible assets	160		189
Gain on fair value remeasurement of contingent consideration	(10)		(3)
Net periodic postretirement benefit plan (income) expense	(180)		(207)
Postretirement plan contributions	(170)		(180)
Share-based compensation	70		52
Provision for income taxes	267		300
Cash paid during the year for income taxes	(287)		(271)
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Receivables	112		(32)
Due from related parties	19		10
Inventories	(116)		(172)
Contract and other deferred assets	12		(64)
Accounts payable	(41)		(40)
Due to related parties	(57)		(11)
Contract liabilities	(20)		111
Current compensation and benefits	(266)		(114)
All other operating activities - net	(155)		(107)
Cash from (used for) operating activities	300		401
Cash flows – investing activities
Additions to property, plant and equipment and internal-use software	(209)		(213)
Dispositions of property, plant, and equipment	—		1
Purchases of businesses, net of cash acquired	(259)		(147)
All other investing activities - net	(69)		9
Cash from (used for) investing activities	(537)		(350)
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	—		(12)
Newly issued debt, net of debt issuance costs (maturities longer than 90 days)	1		2,000
Repayments and other reductions (maturities longer than 90 days)	(156)		(6)
Dividends paid to stockholders	(28)		(14)
Redemption of noncontrolling interests	—		(211)
Net transfers (to) from GE	—		(1,317)
All other financing activities - net	(27)		6
Cash from (used for) financing activities	(210)		446
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash	(41)		(3)
Increase (decrease) in cash, cash equivalents, and restricted cash	(488)		494
Cash, cash equivalents, and restricted cash at beginning of year	2,506		1,451
Cash, cash equivalents, and restricted cash as of June 30	$	2,018	$	1,945
Supplemental disclosure of cash flows information
Cash paid during the year for interest	$	(274)	$	(250)
Non-cash investing activities
Acquired but unpaid property, plant, and equipment	$	76	$	70

The accompanying notes are an integral part of these condensed consolidated financial statements.

10

NOTE 1. ORGANIZATION AND BASIS OF PRESENTATION

GE HealthCare Technologies Inc. and its subsidiaries (“GE HealthCare,” the “Company,” “our,” “us,” or “we”) is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator. We operate at the center of the healthcare ecosystem, helping enable precision care by increasing health system capacity, enhancing productivity, digitizing healthcare delivery, and improving clinical outcomes while serving patients’ demand for greater efficiency, access, and personalized medicine. Our products, services, and solutions are designed to enable clinicians to make more informed decisions quickly and efficiently, improving patient care from diagnosis to therapy to monitoring.

On January 3, 2023, the General Electric Company, which now operates as GE Aerospace, (“GE”) completed the spin-off of GE HealthCare Technologies Inc. (the “Spin-Off”). The Spin-Off was completed through a distribution of approximately 80.1% of the Company’s outstanding common stock to holders of record of GE’s common stock as of the close of business on December 16, 2022 (the “Distribution”), which resulted in the issuance of approximately 454 million shares of common stock. Prior to the Distribution, the Company issued 100 shares of common stock in exchange for $1.00, all of which were held by GE as of December 31, 2022. As a result of the Distribution, the Company became an independent public company. On April 2, 2024, GE completed the separation of its GE Vernova business into an independent publicly traded company. As of June 30, 2024, GE’s beneficial ownership was approximately 6.7% of the Company’s outstanding common stock.

In connection with the Spin-Off, certain adjustments were recorded to reflect transfers from GE, the draw-down of the Term Loan Facility, and settlement of Spin-Off transactions with GE, which resulted in the net reduction in Total equity of $2,840 million. These items substantially consisted of the transfer of: (1) certain pension plan liabilities and assets, (2) certain deferred income taxes, (3) deferred compensation liabilities, and (4) employee termination obligations.

In connection with the Spin-Off, the Company entered into or adopted several agreements that provide a framework for the relationship between the Company and GE. See Note 17, “Related Parties and Transition Services Agreement” for more information on these agreements and related transactions.

The condensed consolidated financial statements (the “financial statements”) have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position and operating results have been included. All intercompany balances and transactions within the Company have been eliminated in the financial statements. Operating results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the fiscal year as a whole. The December 31, 2023 period presented on the Condensed Consolidated Statement of Financial Position was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The following tables are presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows throughout this document may not sum due to the use of rounded numbers. Percentages presented are calculated from the underlying whole-dollar amounts.

Certain prior year amounts in the financial statements and notes thereto have been reclassified to conform to the current year presentation, which provides additional detail to readers of the financial statements. Amounts related to current compensation and benefit obligations that were previously reported within the All other current liabilities and All other operating activities lines on the Condensed Consolidated Statements of Financial Position and Statements of Cash Flows, respectively, have been reclassified to separate lines on the respective financial statements.

The financial statements and notes should be read in conjunction with the Company’s audited consolidated and combined financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

ESTIMATES AND ASSUMPTIONS.

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions, which affect the reported amounts and related disclosures in the financial statements. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position, and cash flows.

11

RECENT ACCOUNTING PRONOUNCEMENTS.

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires annual and interim disclosures that are expected to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-07.

In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09.

NOTE 2. REVENUE RECOGNITION

Our revenues primarily consist of sales of products and services to customers. Products include equipment, imaging agents, software-related offerings, and upgrades. Services include contractual and stand-by preventative maintenance and corrective services, as well as on-demand service parts, extended warranties, training, and other service-type offerings. The Company recognizes revenue from contracts with customers when the customer obtains control of the underlying products or services.

CONTRACT ASSETS.

Contract assets reflect revenue recognized on contracts with customers in excess of billings based on contractual terms. Contract assets are classified as current or non-current based on the amount of time expected to lapse until the Company’s right to consideration becomes unconditional. Other deferred assets consist of costs to obtain contracts, primarily commissions, other cost deferrals for shipped products, and deferred service, labor, and direct overhead costs.

Contract and Other Deferred Assets	As of
	June 30, 2024		December 31, 2023
Contract assets	$	611	$	600
Other deferred assets	367		400
Contract and other deferred assets	977		1,000
Non-current contract assets(1)	81		72
Non-current other deferred assets(1)	96		96
Total contract and other deferred assets	$	1,155	$	1,168

(1)Non-current contract and other deferred assets are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

CONTRACT LIABILITIES.

Contract liabilities include customer advances and deposits received when orders are placed and billed in advance of completion of performance obligations. Contract liabilities are classified as current or non-current based on the periods over which remaining performance obligations (“RPO”) are expected to be satisfied with our customers.

As of June 30, 2024 and December 31, 2023, contract liabilities were approximately $2,562 million and $2,623 million, respectively, of which the non-current portion of $685 million and $705 million, respectively, was recognized in All other non-current liabilities in the Condensed Consolidated Statements of Financial Position. Contract liabilities decreased $61 million in 2024 primarily due to a decrease in customer advances. Revenue recognized related to the contract liabilities balance at the beginning of the year was approximately $1,116 million and $1,105 million for the six months ended June 30, 2024 and 2023, respectively.

REMAINING PERFORMANCE OBLIGATIONS.

RPO represents the estimated revenue expected from customer contracts that are partially or fully unperformed inclusive of amounts deferred in contract liabilities, excluding contracts, or portions thereof, that provide the customer with the ability to cancel or terminate without incurring a substantive penalty. As of June 30, 2024, the aggregate amount of the contracted revenues allocated to our unsatisfied performance obligations was $14,531 million. We expect to recognize revenue as we satisfy our RPO as follows: a) product-related RPO of $4,648 million of which 98% is expected to be recognized within two years, and the remaining thereafter; and b) services-related RPO of $9,883 million of which 64% and 93% are expected to be recognized within two years and five years, respectively, and the remaining thereafter.

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NOTE 3. SEGMENT INFORMATION

As of June 30, 2024, GE HealthCare’s operations were organized and managed through four reportable segments: Imaging, Ultrasound, Patient Care Solutions (“PCS”), and Pharmaceutical Diagnostics (“PDx”). These segments have been identified based on the nature of the products sold and how the Company manages its operations. We have not aggregated any of our operating segments to form reportable segments. A description of our reportable segments has been provided in the “Business” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

The performance of these segments was principally measured based on Total revenues and an earnings metric defined as “Segment EBIT.” Segment EBIT is calculated as Income before income taxes in our Condensed Consolidated Statements of Income excluding the impact of the following: Interest and other financial charges – net, Non-operating benefit (income) costs, restructuring costs, acquisition and disposition-related benefits (charges), gain (loss) on business and asset dispositions, Spin-Off and separation costs, amortization of acquisition-related intangible assets, and investment revaluation gain (loss).

Total Revenues by Segment	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Imaging:
Radiology	$	2,171	$	2,227	$	4,233	$	4,315
Interventional Guidance	425		393		829		801
Total Imaging	2,596		2,620		5,062		5,116
Total Ultrasound	823		839		1,647		1,698
PCS:
Monitoring Solutions	538		563		1,065		1,115
Life Support Solutions	235		207		454		436
Total PCS	772		770		1,519		1,551
Total PDx	639		568		1,238		1,126
Other(1)	9		20		24		33
Total revenues	$	4,839	$	4,817	$	9,489	$	9,524

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HealthCare Financial Services (“HFS”) which does not meet the definition of an operating segment.

Segment EBIT	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Segment EBIT
Imaging	$	286	$	278	$	526	$	469
Ultrasound	178		191		360		398
PCS	78		84		159		193
PDx	200		152		378		307
Other(1)	1		6		1		8
	742		711		1,423		1,375
Restructuring costs	(29)		(19)		(68)		(31)
Acquisition and disposition-related benefits (charges)	3		2		3		1
Gain (loss) on business and asset dispositions	—		—		—		—
Spin-Off and separation costs	(67)		(72)		(126)		(130)
Amortization of acquisition-related intangible assets	(35)		(32)		(66)		(63)
Investment revaluation gain (loss)	(6)		(6)		(26)		(1)
Interest and other financial charges – net	(131)		(137)		(254)		(273)
Non-operating benefit income (costs)	101		123		204		238
Income before income taxes	$	578	$	570	$	1,090	$	1,116

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HFS and certain other business activities which do not meet the definition of an operating segment.

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NOTE 4. RECEIVABLES

Current Receivables	As of
	June 30, 2024		December 31, 2023
Current customer receivables(1)	$	3,174	$	3,339
Non-income based tax receivables	143		166
Other sundry receivables	129		118
Current sundry receivables	272		284
Allowance for credit losses	(103)		(98)
Total current receivables – net	$	3,343	$	3,525

(1) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $126 million and $144 million as of June 30, 2024 and December 31, 2023, respectively.

Long-Term Receivables	As of
	June 30, 2024		December 31, 2023
Long-term customer receivables	$	63	$	55
Non-income based tax receivables	23		26
Other sundry receivables	97		73
Long-term sundry receivables	120		99
Allowance for credit losses	(30)		(30)
Total long-term receivables – net(1)	$	153	$	124

(1) Long-term receivables are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

NOTE 5. FINANCING RECEIVABLES

	As of
	June 30, 2024		December 31, 2023
Loans receivable, at amortized cost	$	26	$	29
Investment in financing leases, net of deferred income	70		71
Allowance for credit losses	(3)		(3)
Current financing receivables – net(1)	93		97
Loans receivable, at amortized cost	33		37
Investment in financing leases, net of deferred income	144		146
Allowance for credit losses	(5)		(5)
Non-current financing receivables – net(1)	$	172	$	178

(1) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other non-current assets, respectively, in the Condensed Consolidated Statements of Financial Position.

As of June 30, 2024, 4%, 4%, and 4% of financing receivables were over 30 days past due, over 90 days past due, and on nonaccrual, respectively, with the majority of nonaccrual financing receivables secured by collateral. As of December 31, 2023, 5%, 5%, and 6% of financing receivables were over 30 days past due, over 90 days past due, and on nonaccrual, respectively, with the majority of nonaccrual financing receivables secured by collateral.

NOTE 6. LEASES

Operating lease liabilities recognized within All other current liabilities and All other non-current liabilities in the Condensed Consolidated Statements of Financial Position were $380 million and $383 million as of June 30, 2024 and December 31, 2023, respectively. The total lease expense related to our operating lease portfolio was $59 million and $57 million for the three months ended June 30, 2024 and 2023, respectively, and $119 million and $113 million for the six months ended June 30, 2024 and 2023, respectively.

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NOTE 7. ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

ACQUISITIONS.

MIM Software

On April 1, 2024, the Company acquired 100% of the stock of MIM Software Inc. (“MIM Software”) for approximately $259 million, net of cash acquired, $13 million of potential earn-out payments, and up to $23 million of other contingent payments based on service requirements. The acquisition was funded with cash on hand. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $195 million, customer-related intangible assets of $52 million, developed technology intangible assets of $48 million, net deferred tax liabilities of $19 million, and other net assets of $7 million. The goodwill associated with the acquired business, recorded within the Imaging segment, is non-deductible for tax purposes and is attributed to expected synergies and commercial benefits from use of the MIM Software technology in our existing GE HealthCare portfolio. MIM Software is a global provider of medical imaging analysis and artificial intelligence (“AI”) solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centers, hospitals, specialty clinics, and research organizations worldwide.

Revenue and earnings of MIM Software included in the Company’s financial statements since the acquisition date are not material to our consolidated revenue and earnings. If the acquisition of MIM Software had taken place as of the beginning of 2023, consolidated revenues and earnings would not have been significantly different from reported amounts.

Caption Health

On February 17, 2023, the Company acquired 100% of the stock of Caption Health, Inc. (“Caption Health”) for $127 million of upfront payment, $10 million of future holdback payment, and potential earn-out payments valued at $13 million based primarily on various milestones and sales targets. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $94 million, intangible assets of $60 million, and deferred tax liabilities of $3 million. The purchase price allocation for Caption Health was finalized in the first quarter of 2024 without material adjustments. The goodwill associated with the acquired business is non-deductible for tax purposes and is reported in the Ultrasound segment. Caption Health is an AI company whose technology expands access to AI-guided ultrasound screening for novice users.

GOODWILL.

	Balance as of December 31, 2023		Acquisitions		Foreign exchange and other		Balance as of June 30, 2024
Imaging	$	4,431	$	195	$	(7)	$	4,620
Ultrasound	3,933		—		(7)		3,926
PCS	2,038		—		(1)		2,036
PDx	2,534		—		(1)		2,533
Total Goodwill	$	12,936	$	195	$	(15)	$	13,116

We assess the possibility that a reporting unit’s fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. We did not identify any reporting units that required an interim impairment test since the last annual impairment testing date.

OTHER INTANGIBLE ASSETS.

Intangible assets decreased during the six months ended June 30, 2024, primarily as a result of amortization, partially offset by additions related to the acquisition of MIM Software. Substantially all of our intangible assets are subject to amortization. Amortization expense was $81 million and $93 million for the three months ended June 30, 2024 and 2023, respectively, and $160 million and $189 million for the six months ended June 30, 2024 and 2023, respectively.

NOTE 8. BORROWINGS

The Company’s borrowings include the following senior unsecured notes and credit agreements:

Senior Unsecured Notes

The Company’s borrowings include $8,250 million aggregate principal amount of senior unsecured notes in six series with maturity dates ranging from 2024 through 2052 (collectively, the “Notes”). Refer to the table below for further information about the Notes.

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Credit Facilities

The Company has credit agreements providing for:

•a five-year senior unsecured revolving credit facility in an aggregate committed amount of $2,500 million, maturing on January 3, 2028;

•a 364-day senior unsecured revolving credit facility in an aggregate committed amount of $1,000 million, maturing on December 11, 2024; and

•a three-year senior unsecured term loan credit facility in an aggregate principal amount of $2,000 million, maturing on January 2, 2026 (the “Term Loan Facility” and, together with the five-year revolving credit facility and the 364-day revolving credit facility, the “Credit Facilities”).

There were no outstanding amounts under the five-year revolving credit facility and 364-day revolving credit facility as of June 30, 2024 or December 31, 2023.

As of June 30, 2024, we have repaid a total of $1,000 million of the Term Loan Facility, $150 million of which was paid in the current year. We had no principal debt repayments on the Notes for the six months ended June 30, 2024.

Borrowings Composition	As of
	June 30, 2024		December 31, 2023
5.550% senior notes due November 15, 2024	$	1,000	$	1,000
5.600% senior notes due November 15, 2025	1,500		1,500
5.650% senior notes due November 15, 2027	1,750		1,750
5.857% senior notes due March 15, 2030	1,250		1,250
5.905% senior notes due November 22, 2032	1,750		1,750
6.377% senior notes due November 22, 2052	1,000		1,000
Floating rate Term Loan Facility due January 2, 2026	1,000		1,150
Other	47		52
Total principal debt issued	9,297		9,452
Less: Unamortized debt issuance costs and discounts	30		35
Add: Cumulative basis adjustment for fair value hedges	(27)		25
Total borrowings	9,240		9,442
Less: Short-term borrowings(1)	1,007		1,006
Long-term borrowings	$	8,233	$	8,436

(1) Short-term borrowings as of June 30, 2024 and December 31, 2023 includes $1,003 million and $1,002 million, respectively, related to the current portion of our long-term borrowings, net of unamortized debt issuance costs and discounts.

See Note 12, “Financial Instruments and Fair Value Measurements” for further information about borrowings and associated derivatives contracts.

LETTERS OF CREDIT, GUARANTEES, AND OTHER COMMITMENTS.

As of June 30, 2024 and December 31, 2023, the Company had bank guarantees and surety bonds of approximately $812 million and $751 million, respectively, related to certain commercial contracts. Additionally, we have issued approximately $28 million and $39 million of guarantees as of June 30, 2024 and December 31, 2023, respectively, primarily related to residual value and credit guarantees on equipment sold to third-party finance companies. Our Condensed Consolidated Statements of Financial Position reflect a liability of $4 million as of June 30, 2024 and December 31, 2023 related to these guarantees. For credit-related guarantees, we estimate our expected credit losses related to off-balance sheet credit exposure consistent with the method used to estimate the allowance for credit losses on financial assets held at amortized cost. See Note 13, “Commitments, Guarantees, Product Warranties, and Other Loss Contingencies” for further information on guarantee arrangements with GE.

NOTE 9. 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 Other Postretirement Plans (“OPEB Plans”). Please refer to Note 10, “Postretirement Benefit Plans” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 for further information. On January 1, 2024, we transitioned from legacy GE multiple-employer OPEB plans to GE HealthCare sponsored single-employer OPEB plans. This change did not have an impact on our results of operations or financial position. Pension plans with pension assets or obligations less than $50 million are not included in the results below.

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Components of Expense (Income)	For the three months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	7	$	9	$	6	$	6	$	2	$	2
Interest cost	227		238		50		53		14		15
Expected return on plan assets	(284)		(293)		(63)		(64)		—		—
Amortization of net loss (gain)	(19)		(35)		5		3		(15)		(16)
Amortization of prior service cost (credit)	2		—		—		(1)		(22)		(22)
Non-operating	$	(74)	$	(90)	$	(8)	$	(10)	$	(23)	$	(23)
Net periodic expense (income)	$	(67)	$	(81)	$	(2)	$	(4)	$	(21)	$	(21)

	For the six months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB Plans
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	14	$	17	$	12	$	12	$	4	$	4
Interest cost	454		478		100		105		27		30
Expected return on plan assets	(567)		(586)		(126)		(127)		—		—
Amortization of net loss (gain)	(38)		(66)		10		5		(30)		(32)
Amortization of prior service cost (credit)	4		—		—		(2)		(44)		(44)
Non-operating	$	(147)	$	(174)	$	(16)	$	(20)	$	(47)	$	(46)
Net periodic expense (income)	$	(133)	$	(157)	$	(4)	$	(8)	$	(43)	$	(42)

In the six months ended June 30, 2024, the Company made cash benefit payments totaling $59 million to its Principal Pension Plans, $40 million to its Other Pension Plans, and $71 million to its OPEB Plans. In 2024, the Company expects to make total cash contributions of approximately $336 million to these plans. The Company does not have a required minimum funding contribution for its U.S.-based GE HealthCare Pension Plan in 2024. Future contributions will depend on market conditions, interest rates, and other factors.

Defined Contribution Plan

GE HealthCare sponsors a defined contribution plan for its eligible U.S. employees. Expenses associated with our employees’ participation in GE HealthCare’s defined contribution plan were $40 million and $33 million for the three months ended June 30, 2024 and 2023, respectively, and $73 million and $66 million for the six months ended June 30, 2024 and 2023, respectively.

NOTE 10. INCOME TAXES

Our effective income tax rate was 24.7% and 24.0% for the three months ended June 30, 2024 and 2023, respectively, and 24.5% and 26.9% for the six months ended June 30, 2024 and 2023, respectively. The tax rate for the three and six months ended June 30, 2024 and 2023 is higher than the U.S. statutory rate primarily due to the cost of global activities, including the U.S. taxation on international operations, withholding taxes, and state taxes.

Post Spin-Off, the Company’s previously undistributed earnings of our foreign subsidiaries are no longer indefinitely reinvested in non-U.S. businesses due to current U.S. funding needs. Therefore, in the first quarter of 2023, an incremental deferred tax liability of $30 million was recorded for withholding and other foreign taxes due upon future distribution of earnings. In addition, the Company is providing for withholding and other foreign taxes due upon future distribution of current period earnings.

The Company is currently being audited in a number of jurisdictions for tax years 2004-2022, including China, Germany, Norway, the United Kingdom, and the United States.

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NOTE 11. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

Changes in Accumulated other comprehensive income (loss) (“AOCI”) by component, net of income taxes, were as follows.

	For the three months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2024	$	(1,781)	$	997	$	(2)	$	(787)
Other comprehensive income (loss) before reclassifications – net of taxes of $(6), $—, and $(2)	(30)		(1)		9		(23)
Reclassifications from AOCI – net of taxes(2) of $—, $10, and $—	—		(35)		—		(36)
Other comprehensive income (loss)	(30)		(36)		8		(58)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

	For the three months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2023	$	(1,760)	$	1,865	$	(30)	$	75
Other comprehensive income (loss) before reclassifications – net of taxes of $28, $(11), and $(2)	3		36		5		44
Reclassifications from AOCI – net of taxes(2) of $—, $17, and $(1)	—		(54)		5		(49)
Other comprehensive income (loss)	3		(18)		10		(5)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

	For the six months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2023	$	(1,706)	$	1,033	$	(18)	$	(691)
Other comprehensive income (loss) before reclassifications – net of taxes of $(14), $(1), and $(7)	(106)		1		24		(81)
Reclassifications from AOCI – net of taxes(2) of $—, $22, and $—	—		(73)		—		(73)
Other comprehensive income (loss)	(106)		(71)		24		(154)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

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	For the six months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2022	$	(1,845)	$	(42)	$	9	$	(1,878)
Other comprehensive income (loss) before reclassifications – net of taxes of $17, $(9), and $2	60		23		(8)		75
Reclassifications from AOCI – net of taxes(2) of $—, $33, and $6	—		(106)		(21)		(127)
Other comprehensive income (loss)	60		(83)		(29)		(52)
Spin-Off related adjustments – net of taxes of $—, $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and six months ended June 30, 2024 and 2023 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.”

(2) Reclassifications from AOCI into earnings for Pension and Other Postretirement Plans are recognized within Non-operating benefit (income) costs, while Cash flow hedges are recognized within Cost of products and Cost of services in our Condensed Consolidated Statements of Income.

NOTE 12. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

DERIVATIVES AND HEDGING.

Our primary objective in executing and holding derivative contracts is to reduce the volatility of earnings and cash flows associated with risks related to foreign currency exchange rates, interest rates, and equity prices. These derivative contracts reduce, but do not entirely eliminate, the aforementioned risks. Our policy is to use derivative contracts solely for managing risks and not for speculative purposes.

Cash Flow Hedges

For derivative instruments designated as cash flow hedges, changes in the fair value of designated hedging instruments are initially recorded as a component of AOCI and subsequently reclassified to earnings in the period in which the hedged transaction affects earnings and to the same financial statement line item impacted by the hedged transaction. As of June 30, 2024, we expect to reclassify $7 million of pre-tax net deferred gains associated with designated cash flow hedges to earnings in the next 12 months, contemporaneously with the impact on earnings of the related hedged transactions.

The cash flows associated with derivatives designated as cash flow hedges are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

Net Investment Hedges

We use cross-currency interest rate swaps and foreign currency forward contracts in combination with foreign currency option contracts to hedge the foreign currency risk associated with our net investment in foreign operations. As of June 30, 2024, these contracts were designated as hedges of our net investment in foreign operations, primarily in Euro and Chinese Renminbi currencies.

The cash flows associated with derivatives designated as net investment hedges are recorded in All other investing activities in the Condensed Consolidated Statements of Cash Flows. Cash flows from the periodic interest settlements on the cross-currency swaps are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

Fair Value Hedges

We use interest rate swaps to hedge the interest rate risk on our fixed rate borrowings. These derivatives are designated as fair value hedges to hedge the changes in fair value due to benchmark interest rate risk of specific designated cash flows of our senior unsecured notes.

We record the changes in fair value on these swap contracts in Interest and other financial charges – net in our Condensed Consolidated Statements of Income, the same line item where the offsetting change in the fair value of the designated cash flows of the senior unsecured note is recorded as a basis adjustment.

Cash flows for the periodic interest settlements on the interest rate swaps are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

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Derivatives Not Designated as Hedging Instruments

We also execute derivative instruments, such as foreign currency forward contracts and equity-linked total return swaps, which are not designated as qualifying hedges. These derivatives serve as economic hedges of the foreign currency rate risk and equity price risk. We also identify and record foreign currency-related features in our purchase or sales contracts where the currency is not the local or functional currency of any substantive party to the contract and record them as embedded derivatives.

The changes in fair value of derivatives not designated in qualifying hedge transactions are recorded in Cost of products, Cost of services, Selling, general, and administrative (“SG&A”), and Other (income) expense – net in the Condensed Consolidated Statements of Income based on the nature of the underlying hedged transaction. Changes in fair value of embedded derivatives are recognized in Other (income) expense – net in the Condensed Consolidated Statements of Income.

The cash flows associated with derivatives not designated but used as economic hedges are recorded, based on the nature of the underlying hedged transaction, in All other operating activities and All other investing activities in the Condensed Consolidated Statements of Cash Flows. The cash flows related to embedded derivatives are included in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

The following table presents the gross fair values of our outstanding derivative instruments.

Fair Value of Derivatives	June 30, 2024						December 31, 2023
	Gross Notional		Fair Value – Assets		Fair Value – Liabilities		Gross Notional		Fair Value – Assets		Fair Value – Liabilities
Foreign currency forward contracts	$	1,411	$	21	$	13	$	1,356	$	8	$	30
Derivatives accounted for as cash flow hedges	1,411		21		13		1,356		8		30
Cross-currency swaps(1)	2,149		—		148		2,209		—		204
Foreign currency forward and options contracts	1,859		17		12		991		9		11
Derivatives accounted for as net investment hedges	4,008		17		160		3,200		9		215
Interest rate swaps(1)	1,700		—		27		1,000		35		10
Derivatives accounted for as fair value hedges	1,700		—		27		1,000		35		10
Foreign currency forward contracts	4,108		9		8		3,597		19		12
Other derivatives(1)(2)	409		25		1		438		57		2
Derivatives not designated as hedging instruments	4,517		34		9		4,035		76		14
Total derivatives	$	11,636	$	72	$	209	$	9,591	$	128	$	269

(1) Accrued interest was immaterial for the periods presented and is excluded from fair value. These amounts are recognized within All other current assets and All other current liabilities in the Condensed Consolidated Statements of Financial Position.

(2) Other derivatives are comprised of embedded derivatives and derivatives related to equity contracts. As of December 31, 2023, Other derivatives also included commodity contracts.

The following table presents amounts recorded in Long-term borrowings in the Condensed Consolidated Statements of Financial Position related to cumulative basis adjustment for fair value hedges.

	June 30, 2024				December 31, 2023
	Carrying amount		Cumulative basis adjustment included in the carrying amount		Carrying amount		Cumulative basis adjustment included in the carrying amount
Long-term borrowings designated in fair value hedges	$	1,669	$	(27)	$	1,023	$	25

Under the master arrangements with the respective counterparties to our derivative contracts, in certain circumstances and subject to applicable requirements, we are allowed to net settle transactions with a single net amount payable by one party to the other. However, we have elected to present the derivative assets and derivative liabilities on a gross basis on our Condensed Consolidated Statements of Financial Position and in the table above.

As of June 30, 2024 and December 31, 2023, the potential effect of rights of offset associated with the derivative contracts would be an offset to both assets and liabilities by $41 million, respectively.

The table below presents the pre-tax gains (losses) recognized in OCI associated with the Company’s cash flow and net investment hedges.

20

Pre-tax Gains (Losses) Recognized in OCI Related to Cash Flow and Net Investment Hedges
	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Cash flow hedges	$	11	$	7	$	31	$	(10)
Net investment hedges(1)	27		(36)		59		(71)

(1) Amounts recognized in OCI for excluded components for the periods presented were immaterial.

The tables below present the gains (losses) on our derivative financial instruments and hedging activity in the Condensed Consolidated Statements of Income.

Derivative Financial Instruments and Hedging Activity	For the three months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	1	$	—	$	—	$	—	$	—
Effects of cash flow hedges	1		—		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and options contracts	—		—		—		2		—
Effects of net investment hedges(1)	—		—		—		11		—
Interest rate swaps(4)	—		—		—		(21)		—
Debt basis adjustment on Long-term borrowings	—		—		—		14		—
Effects of fair value hedges	—		—		—		(7)		—
Foreign currency forward contracts	5		1		—		—		—
Other derivatives(2)	—		—		1		—		3
Effects of derivatives not designated as hedging instruments	5		1		1		—		3

	For the three months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	(5)	$	(1)	$	—	$	—	$	—
Effects of cash flow hedges	(5)		(1)		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		9		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	3		1		—		—		4
Other derivatives(2)	—		—		18		—		—
Effects of derivatives not designated as hedging instruments	3		1		18		—		4

21

	For the six months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	—	$	—	$	—	$	—	$	—
Effects of cash flow hedges	—		—		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and options contracts	—		—		—		4		—
Effects of net investment hedges(1)	—		—		—		21		—
Interest rate swaps(4)	—		—		—		(66)		—
Debt basis adjustment on Long-term borrowings	—		—		—		52		—
Effects of fair value hedges	—		—		—		(13)		—
Foreign currency forward contracts	(7)		(2)		—		—		—
Other derivatives(2)	—		—		5		—		23
Effects of derivatives not designated as hedging instruments	(7)		(2)		5		—		23

	For the six months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	22	$	5	$	—	$	—	$	—
Effects of cash flow hedges	22		5		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		17		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	10		3		—		—		5
Other derivatives(2)	—		—		33		—		—
Effects of derivatives not designated as hedging instruments	10		3		33		—		5

(1) Changes in fair value related to components other than the spot rate are excluded from effectiveness testing for the three and six months ended June 30, 2024 and 2023.

(2) Other derivatives are primarily comprised of embedded derivatives and derivatives related to equity contracts.

(3) Amounts are inclusive of gains (losses) in Other (income) expense – net in the Condensed Consolidated Statements of Income.

(4) Amount includes $(7) million and $(13) million of interest expense on interest rate derivatives for the three and six months ended June 30, 2024, respectively.

FAIR VALUE MEASUREMENTS.

The following table represents assets and liabilities that are recorded and measured at fair value on a recurring basis.

Fair Value of Assets and Liabilities Measured on a Recurring Basis
	As of June 30, 2024								As of December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	215	$	—	$	215	$	—	$	200	$	—	$	200
Investment securities	26		—		—		26		31		—		—		31
Derivatives	—		72		—		72		—		128		—		128
Liabilities:
Deferred compensation	237		6		—		243		264		5		—		269
Derivatives	—		209		—		209		—		269		—		269
Contingent consideration	—		—		42		42		—		—		44		44

22

Cash equivalents

As of June 30, 2024 and December 31, 2023, Cash, cash equivalents and restricted cash of $2,015 million and $2,504 million, respectively, included money market funds of $215 million and $200 million, and other cash equivalents of $695 million and $1,023 million, respectively. The carrying values of the other cash equivalents approximate fair value due to their short maturities and are valued using Level 1 or Level 2 inputs.

Deferred compensation

The deferred compensation liabilities as of June 30, 2024 and December 31, 2023 are comprised of market-based obligations indexed to the S&P 500 index fund and GE HealthCare stock in Level 1, and mutual funds in Level 2.

Derivatives

Derivatives are measured at fair value using a discounted cash flow method or option models using interest rates, foreign exchange spot and forward rates and yield curves observable at commonly quoted intervals, implied volatilities, and credit spreads as key inputs. Unobservable inputs relate to our own credit risk which is not significant to the overall measurement of fair value.

Contingent consideration

The contingent consideration liabilities as of June 30, 2024 and December 31, 2023 were recorded in connection with business acquisitions. The contingent consideration is recorded at fair value based on estimates of future cash flows associated with the acquired businesses. To the extent that the valuation of these liabilities is based on inputs that are less observable or not observable in the market, the determination of fair value requires more judgment. Accordingly, the fair value of contingent consideration is classified within Level 3 of the fair value hierarchy.

Non-recurring fair value measurements

Changes in fair value measurements of assets and liabilities measured at fair value on a non-recurring basis, such as equity method investments, equity investments without readily determinable fair value, financing receivables, and long-lived assets, were not material for the six months ended June 30, 2024 and 2023.

Fair value of other financial instruments

The estimated fair value of borrowings as of June 30, 2024 and December 31, 2023 was $9,609 million and $9,959 million, respectively, compared to a carrying value (which includes a reduction for unamortized debt issuance costs and discounts and cumulative basis adjustment) of $9,240 million and $9,442 million, respectively. The fair value of our borrowings includes accrued interest and is determined based on observable and quoted prices and spreads of comparable debt and benchmark securities and is considered Level 2 in the fair value hierarchy. See Note 8, “Borrowings” for further information.

NOTE 13. COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES

GUARANTEES.

The Company has off-balance sheet credit exposure through standby letters of credit, bank guarantees, bid bonds, and surety bonds. See Note 8, “Borrowings” for further information.

Following the Spin-Off, which was completed pursuant to a Separation and Distribution Agreement (the “Separation and Distribution Agreement”), the Company had remaining performance guarantees on behalf of GE. Under the Separation and Distribution Agreement, GE was obligated to use reasonable best efforts to replace the Company as the guarantor or terminate all such performance guarantees. Until such termination or replacement, in the event of non-fulfillment of contractual obligations by the relevant obligors, the Company could have been obligated to make payments under the applicable instruments for which GE was obligated to reimburse and indemnify the Company. As of December 31, 2023, the Company’s maximum aggregate exposure, subject to GE reimbursement, was approximately $114 million. In the second quarter of 2024, these remaining performance guarantees were all terminated or replaced.

PRODUCT WARRANTIES.

We provide warranty coverage to our customers as part of customary practices in the market to provide assurance that the products we sell comply with agreed-upon specifications. We provide estimated product warranty expenses when we sell the related products. Warranty accruals are estimates that are based on the best available information, mostly historical claims experience, therefore claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties follows.

23

	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	192	$	193
Current-year provisions	96		102
Expenditures	(112)		(105)
Other changes	(4)		—
Balance at end of period	$	172	$	190

Product warranties are recognized within All other current liabilities in the Condensed Consolidated Statements of Financial Position.

LEGAL MATTERS.

In the normal course of our business, we are involved from time to time in various arbitrations; class actions; commercial, intellectual property, and product liability litigation; government investigations; investigations by competition/antitrust authorities; and other legal, regulatory, or governmental actions, including the significant matters described below that could have a material impact on our results of operations and cash flows. 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 such 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.

Contracts with Iraqi Ministry of Health

In 2017, a number of U.S. Service members, civilians, and their families brought a complaint in the U.S. District Court for the District of Columbia (the “District Court”) against a number of pharmaceutical and medical device companies, including GE HealthCare and certain affiliates, alleging that the defendants violated the U.S. Anti-Terrorism Act. The complaint seeks monetary relief and alleges that the defendants provided funding for an Iraqi terrorist organization through their sales practices pursuant to pharmaceutical and medical device contracts with the Iraqi Ministry of Health. In July 2020, the District Court granted defendants’ motions to dismiss and dismissed all of the plaintiffs’ claims. In January 2022, a panel of the U.S. Court of Appeals for the District of Columbia Circuit reversed the District Court’s decision. In February 2022, the defendants requested review of the decision by all of the judges on the U.S. Court of Appeals for the District of Columbia Circuit (the “D.C. Circuit”). In February 2023, the D.C. Circuit denied this request. In June 2023, defendants petitioned the Supreme Court to review the D.C. Circuit’s decision. On June 24, 2024, the Supreme Court vacated the D.C. Circuit’s decision and remanded the case to the D.C. Circuit for further consideration in light of Twitter, Inc. v. Taamneh, a separate case decided by the Supreme Court in May 2023. The proceedings in the District Court are currently inactive.

Government Disclosures

From time to time, we make self-disclosures regarding our compliance with the Foreign Corrupt Practices Act (“FCPA”) and similar laws to relevant authorities who may pursue or decline to pursue enforcement proceedings against us. We, with the assistance of outside counsel, made voluntary self-disclosures to the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) beginning in 2018 regarding tender irregularities and other potential violations of the FCPA relating to our activities in certain provinces in China. We have been engaged in ongoing discussions with each of the SEC and the DOJ regarding these matters. We are fully cooperating with the reviews by these agencies and have implemented, and continue to implement, enhancements to our compliance policies and practices. At this time, we are unable to predict the duration, scope, result, or related costs associated with these disclosures to the SEC and the DOJ. We also are unable to predict what, if any, action may be taken by the SEC or the DOJ or what penalties or remedial actions they may seek. Any determination that our operations or activities are not in compliance with existing laws or regulations, including applicable foreign laws, could result in the imposition of fines, penalties, disgorgement, equitable relief, or other losses.

NOTE 14. RESTRUCTURING AND OTHER ACTIVITIES – NET

Restructuring activities are essential to optimize the business operating model for GE HealthCare and mostly involve workforce reductions, organizational realignments, and revisions to our real estate footprint. Specifically, restructuring and other charges (gains) primarily include facility exit costs, employee-related termination benefits associated with workforce reductions, asset write-downs, and cease-use costs. For segment reporting, restructuring and other activities are not allocated.

Net expenses for restructuring initiatives committed to by management through June 30, 2024 are included in the table below.

24

Restructuring and Other Activities	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Employee termination costs	$	17	$	15	$	42	$	25
Facility and other exit costs	5		—		13		1
Asset write-downs	6		4		13		5
Total restructuring and other activities – net	$	29	$	19	$	68	$	31

These restructuring initiatives are expected to result in additional expenses of approximately $16 million, to be incurred primarily over the next 12 months, substantially related to employee-related termination benefits and asset write-downs. Restructuring expenses (gains) are recognized within Cost of products, Cost of services, or SG&A, as appropriate, in the Condensed Consolidated Statements of Income.

Liabilities related to restructuring are recognized within Current compensation and benefits, All other current liabilities, Non-current compensation and benefits, and All other non-current liabilities in the Condensed Consolidated Statements of Financial Position and totaled $76 million and $68 million as of June 30, 2024 and December 31, 2023, respectively.

NOTE 15. EARNINGS PER SHARE

The numerator for both basic and diluted earnings per share (“EPS”) is Net income attributable to GE HealthCare common stockholders. The denominator of basic EPS is the weighted-average number of shares outstanding during the period. The dilutive effect of outstanding stock options, restricted stock units, and performance share units is reflected in the denominator for diluted EPS using the treasury stock method.

Earnings Per Share	For the three months ended June 30				For the six months ended June 30
(In millions, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income	$	435	$	433	$	823	$	816
Net (income) loss attributable to noncontrolling interests	(7)		(15)		(21)		(26)
Net income attributable to GE HealthCare	428		418		802		790
Deemed preferred stock dividend of redeemable noncontrolling interest	—		—		—		(183)
Net income attributable to GE HealthCare common stockholders	$	428	$	418	$	802	$	607
Denominator:
Basic weighted-average shares outstanding	457		455		456		455
Dilutive effect of common stock equivalents	3		3		3		3
Diluted weighted-average shares outstanding	459		458		459		458
Basic earnings per share	$	0.94	$	0.92	$	1.76	$	1.34
Diluted earnings per share	$	0.93	$	0.91	$	1.75	$	1.33
Antidilutive securities(1)	5		4		4		4

(1) Diluted earnings per share excludes certain shares issuable under share-based compensation plans because the effect would have been antidilutive.

NOTE 16. SUPPLEMENTAL FINANCIAL INFORMATION

Cash, Cash Equivalents, and Restricted Cash	As of
	June 30, 2024		December 31, 2023
Cash and cash equivalents	$	1,997	$	2,494
Short-term restricted cash	17		10
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position	2,015		2,504
Long-term restricted cash(1)	3		2
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows	$	2,018	$	2,506

(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

25

Inventories	As of
	June 30, 2024		December 31, 2023
Raw materials	$	934	$	961
Work in process	102		91
Finished goods	987		908
Inventories(1)	$	2,023	$	1,960

(1) Certain inventory items are long-term in nature and therefore have been recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Property, Plant, and Equipment – Net	As of
	June 30, 2024		December 31, 2023
Original cost	$	5,207	$	5,208
Accumulated depreciation	(3,108)		(3,064)
Right-of-use operating lease assets, net of amortization	359		356
Property, plant, and equipment – net	$	2,458	$	2,500

All Other Current and Non-Current Assets	As of
	June 30, 2024		December 31, 2023
Prepaid expenses and deferred costs	$	218	$	147
Financing receivables – net	93		97
Derivative instruments	58		84
Other(1)	68		61
All other current assets	$	437	$	389
Prepaid pension asset	$	742	$	716
Equity method and other investments	340		357
Financing receivables – net	172		178
Long-term receivables – net	153		124
Inventories	149		147
Contract and other deferred assets	177		168
Other(2)	178		191
All other non-current assets	$	1,913	$	1,881

(1) Current Other primarily consists of tax receivables.

(2) Non-current Other primarily consists of indemnity assets associated with separation agreements with GE, capitalized cloud computing software, tax receivables, and derivative instruments.

26

All Other Current and Non-Current Liabilities	As of
	June 30, 2024		December 31, 2023
Sales allowances and related liabilities	$	211	$	228
Income and indirect tax liabilities including uncertain tax positions	200		260
Product warranties	172		192
Accrued freight and utilities	115		132
Operating lease liabilities	113		110
Derivative instruments(1)	99		128
Interest payable on borrowings	87		87
Environmental and asset retirement obligations	19		21
Other(2)	331		335
All other current liabilities	$	1,348	$	1,493
Contract liabilities	$	685	$	705
Operating lease liabilities	267		273
Environmental and asset retirement obligations	264		265
Income and indirect tax liabilities including uncertain tax positions	194		208
Derivative instruments	108		136
Finance lease obligations	42		38
Sales allowances and related liabilities	23		27
Other(3)	212		225
All other non-current liabilities	$	1,796	$	1,877

(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.

(2) Current Other primarily consists of miscellaneous accrued costs, dividends payable to stockholders, and contingent consideration liabilities.

(3) Non-current Other primarily consists of miscellaneous accrued costs, contingent consideration liabilities, and indemnity liabilities associated with separation agreements with GE.

SUPPLY CHAIN FINANCE PROGRAMS.

The Company participates in voluntary supply chain finance programs which provide participating suppliers the opportunity to sell their GE HealthCare receivables to third parties at the sole discretion of both the suppliers and the third parties. We evaluate supply chain finance programs to ensure the use of a third-party intermediary to settle our trade payables 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. In connection with the supply chain finance programs, payment terms normally range from 30 to 180 days, depending on the underlying supplier agreements.

Included within Accounts payable in the Condensed Consolidated Statements of Financial Position as of June 30, 2024 and December 31, 2023 were $393 million and $365 million, respectively, of confirmed supplier invoices that are outstanding and subject to third-party programs.

REDEEMABLE NONCONTROLLING INTERESTS.

The Company has noncontrolling interests with redemption features. These redemption features, such as put options, could require the Company to purchase the noncontrolling interests upon the occurrence of certain events. All noncontrolling interests with redemption features that are not solely within our control are recognized within the Condensed Consolidated Statements of Financial Position between liabilities and equity. Redeemable noncontrolling interests are initially recorded at the issuance date fair value. Those that are currently redeemable, or probable of becoming redeemable, are subsequently adjusted to the greater of current redemption value or initial carrying value.

The activity attributable to redeemable noncontrolling interests for the six months ended June 30, 2024 and 2023 is presented below.

27

Redeemable Noncontrolling Interests	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	165	$	230
Net income attributable to redeemable noncontrolling interests	16		21
Redemption value adjustments(1)	—		183
Distributions to and exercise of redeemable noncontrolling interests and other(2)	(4)		(225)
Balance at end of period	$	177	$	209

(1) As of January 3, 2023, certain redeemable noncontrolling interests were probable of becoming redeemable due to the change of control that occurred upon consummation of the Spin-Off. As a result, these redeemable noncontrolling interests were remeasured to their current redemption value. The remeasurement was accounted for as a deemed preferred stock dividend of redeemable noncontrolling interest and recorded as an adjustment to Retained earnings in the Condensed Consolidated Statements of Financial Position.

(2) In the first quarter of 2023, the redeemable noncontrolling interest holder exercised its option redemption provision. The redemption amount of $211 million was paid in the second quarter of 2023.

Other Income (Expense) – Net	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Net financing income and investment income (loss)	$	—	$	—	$	(15)	$	13
Equity method income (loss)	2		5		3		9
Change in fair value of assumed obligations	(9)		(6)		(17)		(19)
Other items, net(1)	7		15		21		19
Total other income (expense) – net	$	1	$	14	$	(8)	$	22

(1) Other items, net primarily consists of lease income and licensing and royalty income for the three and six months ended June 30, 2024, and lease income, gains and losses related to derivatives, and licensing and royalty income for the three and six months ended June 30, 2023.

NOTE 17. RELATED PARTIES AND TRANSITION SERVICES AGREEMENT

In connection with the Spin-Off, the Company entered into or adopted several agreements that provide a framework for the relationship between the Company and GE, including the Transition Services Agreement (“TSA”). These agreements were structured in anticipation of GE’s transaction to separate the GE Vernova business as described in Note 1, “Organization and Basis of Presentation.” Under these agreements, we incurred $45 million, net, and $84 million, net, for the three months ended June 30, 2024 and 2023, respectively, and $98 million, net, and $192 million, net, for the six months ended June 30, 2024 and 2023, respectively. These amounts represent fees charged from GE and GE Vernova to the Company primarily for information technology, human resources, and research and development and is net of fees charged from the Company to GE and GE Vernova for facilities and other shared services. For more information on these agreements, see Note 19, “Related Parties” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Current amounts due from and to GE under the various agreements are recognized within Due from related parties or Due to related parties, as applicable, in the Condensed Consolidated Statements of Financial Position. Non-current amounts due from GE were $70 million and $81 million, and due to GE were $41 million and $33 million, as of June 30, 2024 and December 31, 2023, respectively. These amounts were recognized within All other non-current assets and All other non-current liabilities, respectively, in the Condensed Consolidated Statements of Financial Position and primarily relate to tax and other indemnities. Following its separation from GE, GE Vernova does not meet the definition of a related party; accordingly, amounts as of June 30, 2024 due to and from GE Vernova in accordance with the TSA are excluded from the Due from related parties and Due to related parties financial statement line items and non-current balances disclosed above.

NOTE 18. SUBSEQUENT EVENTS

Effective July 1, 2024, the Image Guided Therapies subsegment, previously part of the Imaging segment, was realigned to the Ultrasound segment to better match its clinical usage and realize stronger business and customer impact by providing the right image guidance in the right care setting. Following this realignment, the Company continues to have four reportable segments. Beginning with the Form 10-Q filing for the period ending September 30, 2024, any historical segment financial information presented will be recast to conform to the new reportable segments structure.

28

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Part I. Financial Information
Index
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”)	Page
Trends and Factors Impacting Our Performance	30
Summary of Key Performance Measures	31
Results of Operations	31
Results of Operations – Segments	35
Non-GAAP Financial Measures	36
Liquidity and Capital Resources	40
Recently Issued Accounting Pronouncements	41
Critical Accounting Estimates	41

29

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and corresponding notes included elsewhere in this Quarterly Report on Form 10-Q. The following discussion and analysis provide information management believes to be relevant to understanding the financial condition and results of operations of GE HealthCare Technologies Inc. and its subsidiaries (“GE HealthCare,” the “Company,” “our,” “us,” or “we”) for the three and six months ended June 30, 2024 and 2023. For a full understanding of our financial condition and results of operations, the below discussion should be read alongside the Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. This discussion contains forward-looking statements that are based upon current expectations and are subject to uncertainty and changes in circumstances; see “Forward-Looking Statements.” Our actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors, including those discussed below and elsewhere in this Quarterly Report on Form 10-Q, and particularly in Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

On January 3, 2023, the General Electric Company, which now operates as GE Aerospace, (“GE”) completed the spin-off of GE HealthCare Technologies Inc. (the “Spin-Off”). For further information regarding the Spin-Off, refer to Note 1, “Organization and Basis of Presentation.”

The following tables are presented in millions of United States (“U.S.”) dollars unless otherwise stated, except for per-share amounts which are presented in U.S. dollars. Certain columns and rows throughout this document may not sum due to the use of rounded numbers. Percentages presented are calculated from the underlying whole-dollar amounts.

As of June 30, 2024, GE HealthCare’s operations were organized and managed through four reportable segments: Imaging, Ultrasound, Patient Care Solutions (“PCS”), and Pharmaceutical Diagnostics (“PDx”) and we evaluated their operating performance using Segment revenues and Segment EBIT.

TRENDS AND FACTORS IMPACTING OUR PERFORMANCE

We believe that our performance and future success depend on a number of factors that present significant opportunities for us but also pose risks and challenges, including those discussed below and particularly in Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

KEY TRENDS AFFECTING RESULTS OF OPERATIONS.

Russia and Ukraine Conflict

We had $126 million and $153 million of assets in, or directly related to, Russia and Ukraine as of June 30, 2024 and December 31, 2023, respectively, none of which are subject to sanctions that impact the carrying value of the assets. We generated revenues of $161 million and $155 million from customers in these two countries for the six months ended June 30, 2024 and 2023, respectively. The potential inability to repatriate earnings from these two countries will not have a material impact on our ability to operate.

We continue to monitor the effects of Russia’s invasion of Ukraine, including the consideration of financial impact, cybersecurity risks, the applicability and effect of sanctions, and the employee base in Ukraine and Russia. In May 2023, the U.S. Department of Commerce implemented expanded measures that required us to obtain a license for the export, re-export, or transfer of specified medical equipment and spare parts to customers in Russia. As of April 29, 2024, this requirement has been modified to permit us to export, re-export, or transfer medical equipment and spare parts that meet stated criteria under a License Exception, which is expected to eliminate the need for us to obtain individual U.S. licenses in most cases. The European Union and other countries have also expanded licensing requirements for certain spare parts, services, software, and other items. We will continue to apply for licenses to supply to these customers and to support our business in Russia, as required. The implementation of these measures affected our ability to supply customers in Russia during the first two quarters of 2024 and the last three quarters of 2023 and will continue to do so as we confirm applicability of the new U.S. License Exception to our transactions and continue to obtain licenses. There is no guarantee we will obtain all of the licenses for which we applied, that any approvals we obtain will be on a timely basis, or that our business in Russia will not be further disrupted due to evolving legal or operational considerations. The Board, together with management, will continue to assess whether developments related to the conflict have had, or are reasonably likely to have, a material impact on the Company.

China Market

We continue to monitor developments in the market in China. An anti-corruption campaign directed at the healthcare sector, launched last year, is still ongoing. In addition, in March 2024, the government in China announced a new stimulus program (“2024 stimulus”) that includes the healthcare sector and will be implemented through China’s provinces. Both of these factors have contributed to delayed orders and sales in our China business, including in the first half of 2024. We expect the 2024 stimulus program will result in opportunities for our business in China in the longer term, but it has had a short-term impact as provinces develop and announce their plans and customers wait to understand the details of the 2024 stimulus before making purchasing decisions. We expect the effects of the anti-corruption campaign and the delay in China 2024 stimulus to continue to impact our orders and sales in the near term, although we are unable to predict the exact duration or magnitude of the impact. We expect both of these impacts to be temporary, and we believe the focus of government policy in China on expanding access to healthcare will benefit our business in China in the long term.

30

Tax Valuation Allowances

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 evaluating all available positive and negative evidence. We have a valuation allowance against certain U.S. and foreign deferred tax assets and will release the valuation allowance when there is sufficient positive evidence to support a conclusion that it is more likely than not the deferred tax assets will be realized. Depending on our operating results in the future, we may release the valuation allowance associated with our Brazil deferred tax assets within the year. The timing and amount of the valuation allowance release could vary based on our assessment of all available evidence. Release of all, or a portion, of the valuation allowance would result in the recognition of certain deferred tax assets and may result in a decrease to income tax expense for the period in which the release is recorded.

SUMMARY OF KEY PERFORMANCE MEASURES

Management reviews and analyzes several key performance measures including Total revenues, remaining performance obligations (“RPO”), Operating income, Net income attributable to GE HealthCare, Earnings per share, and Cash from (used for) operating activities. Management also reviews and analyzes Organic revenue*, Adjusted earnings before interest and taxes* (“Adjusted EBIT*”), Adjusted net income*, Adjusted tax expense*, Adjusted effective tax rate* (“Adjusted ETR*”), Adjusted earnings per share*, and Free cash flow*, which are non-GAAP financial measures. These measures are reviewed and analyzed in order to evaluate our business performance, identify trends affecting our business, allocate capital, and make strategic decisions, including those discussed below. See “Results of Operations” and “Liquidity and Capital Resources” below for further discussion on our key performance measures.

The non-GAAP financial measures should be considered along with the most directly comparable U.S. GAAP financial measures. Definitions of these non-GAAP financial measures, a discussion of why we believe they are useful to management and investors as well as certain of their limitations, and reconciliations to their most directly comparable U.S. GAAP financial measures are provided below under “Non-GAAP Financial Measures.”

RESULTS OF OPERATIONS

The following tables set forth our results of operations for each of the periods presented.

Condensed Consolidated Statements of Income	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Sales of products	$	3,207	$	3,213	$	6,253	$	6,344
Sales of services	1,632		1,604		3,237		3,180
Total revenues	4,839		4,817		9,489		9,524
Cost of products	2,045		2,084		4,012		4,121
Cost of services	792		793		1,574		1,572
Gross profit	2,002		1,940		3,904		3,831
Selling, general, and administrative	1,067		1,072		2,105		2,134
Research and development	327		298		651		568
Total operating expenses	1,395		1,370		2,756		2,702
Operating income	608		570		1,148		1,129
Interest and other financial charges – net	131		137		254		273
Non-operating benefit (income) costs	(101)		(123)		(204)		(238)
Other (income) expense – net	(1)		(14)		8		(22)
Income before income taxes	578		570		1,090		1,116
Benefit (provision) for income taxes	(143)		(137)		(267)		(300)
Net income	435		433		823		816
Net (income) loss attributable to noncontrolling interests	(7)		(15)		(21)		(26)
Net income attributable to GE HealthCare	$	428	$	418	$	802	$	790

____________________

*Non-GAAP Financial Measure

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TOTAL REVENUES AND RPO.

Revenues by Segment	For the three months ended June 30						For the six months ended June 30
	2024		2023		% change	% organic* change	2024		2023		% change	% organic* change
Segment revenues
Imaging	$	2,596	$	2,620	(1)%	—%	$	5,062	$	5,116	(1)%	—%
Ultrasound	823		839		(2)%	(1)%	1,647		1,698		(3)%	(2)%
PCS	772		770		—%	1%	1,519		1,551		(2)%	(2)%
PDx	639		568		12%	14%	1,238		1,126		10%	11%
Other(1)	9		20				24		33
Total revenues	$	4,839	$	4,817	—%	1%	$	9,489	$	9,524	—%	—%

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HealthCare Financial Services which does not meet the definition of an operating segment.

Revenues by Region	For the three months ended June 30					For the six months ended June 30
	2024		2023		% change	2024		2023		% change
United States and Canada (“USCAN”)	$	2,243	$	2,139	5%	$	4,336	$	4,222	3%
Europe, the Middle East, and Africa (“EMEA”)	1,206		1,216		(1)%	2,380		2,384		—%
China region	583		714		(18)%	1,180		1,386		(15)%
Rest of World	807		748		8%	1,592		1,532		4%
Total revenues	$	4,839	$	4,817	—%	$	9,489	$	9,524	—%

For the three months ended June 30, 2024

Total revenues were $4,839 million, approximately flat as reported and growing 1% organically*. Sales of services increased 2% or $28 million primarily due to increased pricing, partially offset by a decrease in Sales of products of $6 million following double digit reported product revenue growth in the prior year, which benefited from improved supply chain fulfillment.

The segment revenues were as follows:

•Imaging segment revenues were $2,596 million, decreasing 1% or $24 million following high single digit Organic revenue growth* in the prior year, which benefited from improved supply chain fulfillment, and current year sales impacted by lower volume in China and unfavorable foreign currency impacts;

•Ultrasound segment revenues were $823 million, decreasing 2% or $16 million primarily due to lower sales volume in China and unfavorable foreign currency impacts;

•PCS segment revenues were $772 million, flat to the prior year and growing 1% organically*, following high single digit Organic revenue growth* in the prior year, which benefited from improved fulfillment; and

•PDx segment revenues were $639 million, growing 12% or $71 million with growth in the EMEA and USCAN regions driven by growth in volume, an increase in price, and new product introductions.

The regional revenues were as follows:

•USCAN revenues were $2,243 million, growing 5% or $104 million with growth across all segment revenues, led by double-digit growth in PDx;

•EMEA revenues were $1,206 million, decreasing 1% or $10 million, following high single digit growth in the prior year, with declines in Imaging and PCS revenues largely offset by increases in PDx and Ultrasound revenues;

•China region revenues were $583 million, decreasing 18% or $131 million with declines in all segment revenues following double digit growth in the prior year due to the impact from the 2022 COVID stimulus programs and current year sales impacted by the delayed 2024 stimulus and the ongoing anti-corruption campaign; and

•Rest of World revenues were $807 million, growing 8% or $59 million with growth in Imaging and PCS revenues, partially offset by unfavorable foreign currency impacts.

____________________

*Non-GAAP Financial Measure

32

For the six months ended June 30, 2024

Total revenues were $9,489 million, flat to the prior year both as reported and organically*. The flat result was due to Sales of products decreasing 1% or $91 million, primarily due to decreased volume following double digit reported product revenue growth in the prior year, partially offset by Sales of services increasing 2% or $57 million driven by increased pricing.

The segment revenues were as follows:

•Imaging segment revenues were $5,062 million, decreasing 1% or $54 million following double digit Organic revenue growth* in the prior year, which benefited from improved supply chain fulfillment, and unfavorable foreign currency impacts;

•Ultrasound segment revenues were $1,647 million, decreasing 3% or $51 million following high single digit Organic revenue growth* in the prior year, with current year impacts from lower sales volume in China and unfavorable foreign currency impacts;

•PCS segment revenues were $1,519 million, decreasing 2% or $32 million primarily due to decreased volume following double digit Organic revenue growth* in the prior year; and

•PDx segment revenues were $1,238 million, growing 10% or $112 million with growth in the EMEA and USCAN regions driven by growth in volume, an increase in price, and new product introductions.

The regional revenues were as follows:

•USCAN revenues were $4,336 million, growing 3% or $114 million with growth in PDx and Imaging revenues;

•EMEA revenues were $2,380 million, approximately flat, following high single digit growth in the prior year, with growth in PDx revenues largely offset by decreases in Imaging and PCS revenues;

•China region revenues were $1,180 million, decreasing 15% or $206 million with declines in all segment revenues following double digit growth in the prior year due to the impact from the 2022 COVID stimulus programs and current year sales impacted by the delayed 2024 stimulus and the ongoing anti-corruption campaign; and

•Rest of World revenues were $1,592 million, growing 4% or $60 million with growth in Imaging and PCS revenues, partially offset by unfavorable foreign currency impacts.

Remaining Performance Obligations	As of
	June 30, 2024		December 31, 2023		% change
Products	$	4,648	$	4,930	(6)%
Services	9,883		9,725		2%
Total RPO	$	14,531	$	14,655	(1)%

RPO represents the estimated revenue expected from customer contracts that are partially or fully unperformed inclusive of amounts deferred in contract liabilities, excluding contracts, or portions thereof, that provide the customer with the ability to cancel or terminate without incurring a substantive penalty. RPO as of June 30, 2024 decreased 1% from December 31, 2023, primarily due to fulfillment and cancellations outpacing new contracts, partially offset by the timing of multi-year service contract renewals in USCAN and Rest of World.

OPERATING INCOME, NET INCOME ATTRIBUTABLE TO GE HEALTHCARE, ADJUSTED EBIT*, AND ADJUSTED NET INCOME*.

	For the three months ended June 30							For the six months ended June 30
	2024		% of Total revenues	2023		% of Total revenues	% change	2024		% of Total revenues	2023		% of Total revenues	% change
Operating income	$	608	12.6%	$	570	11.8%	7%	$	1,148	12.1%	$	1,129	11.9%	2%
Net income attributable to GE HealthCare	428		8.9%	418		8.7%	2%	802		8.5%	790		8.3%	2%
Adjusted EBIT*	742		15.3%	711		14.8%	4%	1,423		15.0%	1,375		14.4%	3%
Adjusted net income*	459		9.5%	419		8.7%	10%	872		9.2%	807		8.5%	8%

____________________

*Non-GAAP Financial Measure

33

For the three months ended June 30, 2024

Operating income was $608 million, an increase of $38 million and 70 basis points as a percent of Total revenues. The increase was due to the following factors:

•Gross profit increased $62 million or 110 basis points as a percent of Total revenues primarily due to a reduction in Cost of products sold. Cost of products sold decreased $39 million or 110 basis points as a percent of Sales of products. The decrease as a percent of sales was driven primarily by cost productivity, partially offset by cost inflation. Cost of services sold decreased $1 million or 90 basis points as a percent of Sales of services. The decrease as a percent of sales was driven by cost productivity and an increase in pricing of our service offerings, partially offset by cost inflation. Included in our total cost of revenue as part of our product investment was $102 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $110 million for the prior year comparable period; and

•Total operating expenses increased $25 million due to an increase in Research and Development (“R&D”) investments of $29 million, partially offset by a decrease in Selling, general, and administrative (“SG&A”) expense of $5 million primarily driven by cost saving initiatives, including information technology. As a result, R&D as a percentage of Total revenues increased by 60 basis points while SG&A as a percentage of Total revenues decreased by 20 basis points.

Net income attributable to GE HealthCare and Net income margin were $428 million and 8.9%, an increase of $10 million and 20 basis points, respectively, primarily due to the following factors:

•Operating income increased $38 million, as discussed above;

•Interest and other financial charges – net decreased $6 million primarily driven by lower overall borrowings due to the repayments made on the Term Loan Facility;

•Non-operating benefit income decreased $22 million primarily related to lower amortization of net gains on our pension plans;

•Other income (expense) – net decreased $13 million primarily related to derivatives gains occurring in the prior year; and

•Provision for income taxes increased $6 million primarily due to incremental discrete adjustments in the current year. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $742 million and 15.3%, an increase of $31 million and 60 basis points, respectively, primarily due to an increase in Gross profit, partially offset by investment in R&D.

Adjusted net income* was $459 million, an increase of $40 million primarily due to the increase in Gross profit, partially offset by investment in R&D.

For the six months ended June 30, 2024

Operating income was $1,148 million, an increase of $19 million and 20 basis points as a percent of Total revenues. The increase was due to the following factors:

•Gross profit increased $73 million or 90 basis points as a percent of Total revenues primarily due to a reduction in Cost of products sold. Cost of products sold decreased $109 million or 80 basis points as a percent of Sales of products. The decrease as a percent of sales was driven by cost productivity and an increase in pricing of our products, partially offset by cost inflation. Cost of services sold increased $2 million but decreased 80 basis points as a percent of Sales of services. The decrease as a percent of sales was driven by cost productivity and an increase in pricing of our service offerings, partially offset by cost inflation. Included in our total cost of revenue as part of our product investment was $203 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $220 million for the prior year comparable period; and

•Total operating expenses increased $54 million due to an increase in R&D investments of $83 million, partially offset by a decrease in SG&A expense of $29 million primarily driven by cost saving initiatives, including information technology savings. As a result, R&D as a percentage of Total revenues increased by 90 basis points while SG&A as a percentage of Total revenues decreased by 20 basis points.

____________________

*Non-GAAP Financial Measure

34

Net income attributable to GE HealthCare and Net income margin were $802 million and 8.5%, an increase of $12 million and 20 basis points, respectively, primarily due to the following factors:

•Operating income increased $19 million, as discussed above;

•Interest and other financial charges – net decreased $19 million primarily driven by lower overall borrowings due to the repayments made on the Term Loan Facility;

•Non-operating benefit income decreased $34 million primarily related to lower amortization of net gains on our pension plans;

•Other income (expense) – net decreased $30 million primarily related to lower net financing and investment income and non-repeat derivatives gains in the prior year; and

•Provision for income taxes decreased $33 million primarily due to prior year results impacted by an incremental charge for the accrual of withholding and other foreign taxes due upon future distribution of earnings. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $1,423 million and 15.0%, an increase of $48 million and 60 basis points, respectively, primarily due to an increase in Gross profit, partially offset by investment in R&D.

Adjusted net income* was $872 million, an increase of $65 million primarily due to an increase in Gross profit and the decrease of Interest and other financial charges – net, partially offset by investment in R&D.

RESULTS OF OPERATIONS – SEGMENTS

We exclude from Segment EBIT certain corporate-related expenses and certain transactions or adjustments that our Chief Operating Decision Maker (which is our Chief Executive Officer) considers to be non-operational, such as Interest and other financial charges – net, Benefit (provision) for income taxes, restructuring costs, acquisition and disposition-related benefits (charges), Spin-Off and separation costs, Non-operating benefit (income) costs, gain (loss) on business and asset dispositions, amortization of acquisition-related intangible assets, Net (income) loss attributable to noncontrolling interests, Income (loss) from discontinued operations, net of taxes, and investment revaluation gain (loss). See “Results of Operations” section above for discussion on segment revenue performance.

Segment EBIT	For the three months ended June 30										For the six months ended June 30
	2024		% of segment revenues		2023		% of segment revenues		% change		2024		% of segment revenues		2023		% of segment revenues		% change
Segment EBIT(1)
Imaging	$	286	11.0	%	$	278	10.6	%	3	%	$	526	10.4	%	$	469	9.2	%	12	%
Ultrasound	178		21.6	%	191		22.8	%	(7)	%	360		21.9	%	398		23.4	%	(10)	%
PCS	78		10.1	%	84		10.9	%	(8)	%	159		10.5	%	193		12.4	%	(18)	%
PDx	200		31.2	%	152		26.8	%	31	%	378		30.5	%	307		27.3	%	23	%

(1)For additional details regarding Segment EBIT, see Note 3, “Segment Information.”

For the three months ended June 30, 2024

•Imaging Segment EBIT was $286 million, an increase of $8 million due to cost productivity and an increase in price, partially offset by cost inflation;

•Ultrasound Segment EBIT was $178 million, a decrease of $13 million primarily due to lower sales in China and cost inflation, partially offset by cost productivity;

•PCS Segment EBIT was $78 million, a decrease of $6 million due to product mix, with cost productivity offsetting inflation; and

•PDx Segment EBIT was $200 million, an increase of $48 million due to a growth in sales volume, cost productivity, and an increase in price, partially offset by cost inflation.

____________________

*Non-GAAP Financial Measure

35

For the six months ended June 30, 2024

•Imaging Segment EBIT was $526 million, an increase of $57 million due to cost productivity and an increase in price, partially offset by cost inflation;

•Ultrasound Segment EBIT was $360 million, a decrease of $38 million due to cost inflation and a decrease in sales volume, particularly in China, partially offset by cost productivity;

•PCS Segment EBIT was $159 million, a decrease of $34 million due to cost inflation and a decrease in sales volume, partially offset by cost productivity; and

•PDx Segment EBIT was $378 million, an increase of $71 million due to growth in sales volume, an increase in price, and cost productivity, partially offset by cost inflation and investments.

NON-GAAP FINANCIAL MEASURES

The non-GAAP financial measures presented in this Quarterly Report on Form 10-Q are supplemental measures of our performance and our liquidity that we believe will help investors understand our financial condition, cash flows, and operating results, and assess our future prospects. When read in conjunction with our U.S. GAAP results, these non-GAAP financial measures provide a baseline for analyzing trends in our underlying businesses and can be used by management as one basis for making financial, operational, and planning decisions. Descriptions of the reported non-GAAP measures are included below.

We report Organic revenue and Organic revenue growth rate to provide management and investors with additional understanding and visibility into the underlying revenue trends of our established, ongoing operations, as well as provide insights into overall demand for our products and services. To calculate these measures, we exclude the effect of acquisitions, dispositions, and foreign currency rate fluctuations.

We report EBIT, Adjusted EBIT, Adjusted EBIT margin, Adjusted net income, and Adjusted earnings per share to provide management and investors with additional understanding of our business by highlighting the results from ongoing operations and the underlying profitability factors, on a normalized basis. To calculate these measures we exclude, and reflect in the detailed reconciliations below, the following adjustments as applicable: Interest and other financial charges - net, Net (income) loss attributable to noncontrolling interests, Non-operating benefit (income) costs, Benefit (provision) for income taxes and certain tax related adjustments, and certain non-recurring and/or non-cash items. We may from time to time consider excluding other non-recurring items to enhance comparability between periods. Adjusted EBIT margin is calculated by taking Adjusted EBIT divided by Total revenues for the same period.

We report Adjusted tax expense and Adjusted ETR to provide investors with a better understanding of the normalized tax rate applicable to our business and provide more consistent comparability across periods. Adjusted tax expense excludes the income tax related to the pre-tax income adjustments included as part of Adjusted net income and certain income tax adjustments, such as adjustments to deferred tax assets or liabilities. We may from time to time consider excluding other non-recurring tax items to enhance comparability between periods. Adjusted ETR is Adjusted tax expense divided by Income before income taxes less the pre-tax income adjustments referenced above.

We report Free cash flow to provide management and investors with an important measure of our ability to generate cash on a normalized basis and provide insight into our flexibility to allocate capital. Free cash flow is Cash from (used for) operating activities including cash flows related to the additions and dispositions of property, plant, and equipment (“PP&E”) and additions of internal-use software. Free cash flow does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the capital required for debt repayments.

Management recognizes that these non-GAAP financial measures have limitations, including that they may be calculated differently by other companies or may be used under different circumstances or for different purposes. In order to compensate for the discussed limitations, management does not consider these measures in isolation from or as alternatives to the comparable financial measures determined in accordance with U.S. GAAP. The detailed reconciliations of each non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure are provided below, and no single financial measure should be relied on to evaluate our business.

36

Organic Revenue*	For the three months ended June 30					For the six months ended June 30
	2024		2023		% change	2024		2023		% change
Imaging revenues	$	2,596	$	2,620	(1)%	$	5,062	$	5,116	(1)%
Less: Acquisitions(1)	13		—			13		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	(37)		—			(64)		—
Imaging Organic revenue*	$	2,620	$	2,620	—%	$	5,113	$	5,116	—%
Ultrasound revenues	$	823	$	839	(2)%	$	1,647	$	1,698	(3)%
Less: Acquisitions(1)	—		—			—		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	(8)		—			(13)		—
Ultrasound Organic revenue*	$	831	$	839	(1)%	$	1,659	$	1,698	(2)%
PCS revenues	$	772	$	770	—%	$	1,519	$	1,551	(2)%
Less: Acquisitions(1)	—		—			—		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	(2)		—			(4)		—
PCS Organic revenue*	$	775	$	770	1%	$	1,523	$	1,551	(2)%
PDx revenues	$	639	$	568	12%	$	1,238	$	1,126	10%
Less: Acquisitions(1)	—		—			—		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	(7)		—			(8)		—
PDx Organic revenue*	$	646	$	568	14%	$	1,246	$	1,126	11%
Other revenues	$	9	$	20	(53)%	$	24	$	33	(27)%
Less: Acquisitions(1)	—		—			—		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	—		—			—		—
Other Organic revenue*	$	9	$	20	(53)%	$	24	$	33	(27)%
Total revenues	$	4,839	$	4,817	—%	$	9,489	$	9,524	—%
Less: Acquisitions(1)	13		—			14		—
Less: Dispositions(2)	—		—			—		—
Less: Foreign currency exchange	(54)		—			(89)		—
Organic revenue*	$	4,881	$	4,817	1%	$	9,565	$	9,524	—%

(1)	Represents revenues attributable to acquisitions from the date the Company completed the transaction through the end of four quarters following the transaction.
(2)	Represents revenues attributable to dispositions for the four quarters preceding the disposition date.

____________________
*Non-GAAP Financial Measure

37

Adjusted EBIT*	For the three months ended June 30					For the six months ended June 30
	2024		2023		% change	2024		2023		% change
Net income attributable to GE HealthCare	$	428	$	418	2%	$	802	$	790	2%
Add: Interest and other financial charges – net	131		137			254		273
Add: Non-operating benefit (income) costs	(101)		(123)			(204)		(238)
Less: Benefit (provision) for income taxes	(143)		(137)			(267)		(300)
Less: Net (income) loss attributable to noncontrolling interests	(7)		(15)			(21)		(26)
EBIT*	$	608	$	584	4%	$	1,140	$	1,151	(1)%
Add: Restructuring costs(1)	29		19			68		31
Add: Acquisition and disposition-related charges (benefits)(2)	(3)		(2)			(3)		(1)
Add: Spin-Off and separation costs(3)	67		72			126		130
Add: (Gain) loss on business and asset dispositions(4)	—		—			—		—
Add: Amortization of acquisition-related intangible assets	35		32			66		63
Add: Investment revaluation (gain) loss(5)	6		6			26		1
Adjusted EBIT*	$	742	$	711	4%	$	1,423	$	1,375	3%
Net income margin	8.9%		8.7%		20 bps	8.5%		8.3%		20 bps
Adjusted EBIT margin*	15.3%		14.8%		60 bps	15.0%		14.4%		60 bps

(1)	Consists of severance, facility closures, and other charges associated with restructuring programs.
(2)	Consists of legal, consulting, and other transaction and integration fees, and adjustments to contingent consideration, as well as other purchase accounting related charges and other costs directly related to the transactions.
(3)	Costs incurred in the Spin-Off and separation from GE, including system implementations, audit and advisory fees, legal entity separation, Founders Grant equity awards, separation agreements with GE, and other one-time costs.
(4)	Consists of gains and losses resulting from the sale of assets and investments.
(5)	Primarily relates to valuation adjustments for equity investments.

Adjusted Net Income*	For the three months ended June 30					For the six months ended June 30
	2024		2023		% change	2024		2023		% change
Net income attributable to GE HealthCare	$	428	$	418	2%	$	802	$	790	2%
Add: Non-operating benefit (income) costs	(101)		(123)			(204)		(238)
Add: Restructuring costs(1)	29		19			68		31
Add: Acquisition and disposition-related charges (benefits)(2)	(3)		(2)			(3)		(1)
Add: Spin-Off and separation costs(3)	67		72			126		130
Add: (Gain) loss on business and asset dispositions(4)	—		—			—		—
Add: Amortization of acquisition-related intangible assets	35		32			66		63
Add: Investment revaluation (gain) loss(5)	6		6			26		1
Add: Tax effect of reconciling items	(1)		(3)			(10)		1
Add: Certain tax adjustments(6)	—		—			—		30
Adjusted net income*	$	459	$	419	10%	$	872	$	807	8%

(1)	Consists of severance, facility closures, and other charges associated with restructuring programs.
(2)	Consists of legal, consulting, and other transaction and integration fees, and adjustments to contingent consideration, as well as other purchase accounting related charges and other costs directly related to the transactions.
(3)	Costs incurred in the Spin-Off and separation from GE, including system implementations, audit and advisory fees, legal entity separation, Founders Grant equity awards, separation agreements with GE, and other one-time costs.
(4)	Consists of gains and losses resulting from the sale of assets and investments.
(5)	Primarily relates to valuation adjustments for equity investments.
(6)	Consists of certain income tax adjustments, including the accrual of a deferred tax liability on the prior period earnings of certain of the Company’s foreign subsidiaries for which the Company is no longer permanently reinvested and the impact of adjusting deferred tax assets and liabilities to stand-alone GE HealthCare tax rates.

____________________
*Non-GAAP Financial Measure

38

Adjusted Earnings Per Share*	For the three months ended June 30						For the six months ended June 30
(In dollars, except shares outstanding presented in millions)	2024		2023		$ change		2024		2023		$ change
Diluted earnings per share	$	0.93	$	0.91	$	0.02	$	1.75	$	1.33	$	0.42
Add: Deemed preferred stock dividend of redeemable noncontrolling interest	—		—				—		0.40
Add: Non-operating benefit (income) costs	(0.22)		(0.27)				(0.44)		(0.52)
Add: Restructuring costs(1)	0.06		0.04				0.15		0.07
Add: Acquisition and disposition-related charges (benefits)(2)	(0.01)		(0.00)				(0.01)		(0.00)
Add: Spin-Off and separation costs(3)	0.15		0.16				0.28		0.28
Add: (Gain) loss on business and asset dispositions(4)	—		—				—		—
Add: Amortization of acquisition-related intangible assets	0.08		0.07				0.14		0.14
Add: Investment revaluation (gain) loss(5)	0.01		0.01				0.06		0.00
Add: Tax effect of reconciling items	(0.00)		(0.01)				(0.02)		0.00
Add: Certain tax adjustments(6)	—		—				—		0.07
Adjusted earnings per share*	$	1.00	$	0.92	$	0.09	$	1.90	$	1.76	$	0.14
Diluted weighted-average shares outstanding	459		458				459		458

(1)	Consists of severance, facility closures, and other charges associated with restructuring programs.
(2)	Consists of legal, consulting, and other transaction and integration fees, and adjustments to contingent consideration, as well as other purchase accounting related charges and other costs directly related to the transactions.
(3)	Costs incurred in the Spin-Off and separation from GE, including system implementations, audit and advisory fees, legal entity separation, Founders Grant equity awards, separation agreements with GE, and other one-time costs.
(4)	Consists of gains and losses resulting from the sale of assets and investments.
(5)	Primarily relates to valuation adjustments for equity investments.
(6)	Consists of certain income tax adjustments, including the accrual of a deferred tax liability on the prior period earnings of certain of the Company’s foreign subsidiaries for which the Company is no longer permanently reinvested and the impact of adjusting deferred tax assets and liabilities to stand-alone GE HealthCare tax rates.

Adjusted Tax Expense* and Adjusted ETR*	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Benefit (provision) for income taxes	$	(143)	$	(137)	$	(267)	$	(300)
Add: Tax effect of reconciling items	(1)		(3)		(10)		1
Add: Certain tax adjustments(1)	—		—		—		30
Adjusted tax expense*	$	(144)	$	(140)	$	(277)	$	(269)
Effective tax rate	24.7%		24.0%		24.5%		26.9%
Adjusted effective tax rate*	23.6%		24.4%		23.7%		24.4%

(1) Consists of certain income tax adjustments, including the accrual of a deferred tax liability on the prior period earnings of certain of the Company’s foreign subsidiaries for which the Company is no longer permanently reinvested and the impact of adjusting deferred tax assets and liabilities to stand-alone GE HealthCare tax rates.

Free Cash Flow*	For the six months ended June 30
	2024		2023		% change
Cash from (used for) operating activities	$	300	$	401	(25)%
Add: Additions to PP&E and internal-use software	(209)		(213)
Add: Dispositions of PP&E	—		1
Free cash flow*	$	92	$	189	(51)%

____________________

*Non-GAAP Financial Measure

39

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2024, our Cash, cash equivalents, and restricted cash balance in the Condensed Consolidated Statements of Financial Position was $2,015 million. We have historically generated positive cash flows from operating activities. Additionally, we have access to revolving credit facilities of $3,500 million in aggregate, described in detail in Note 8, “Borrowings.”

We believe that our existing balance of Cash, cash equivalents, and restricted cash, future cash generated from operating activities, access to capital markets, and existing credit facilities will be sufficient to meet the needs of our current and ongoing operations, pay taxes due, service our existing debt, and fund investments in our business for at least the next 12 months.

The following table summarizes our cash flows for the periods presented:

Cash Flow	For the six months ended June 30
	2024		2023
Cash from (used for) operating activities	$	300	$	401
Cash from (used for) investing activities	(537)		(350)
Cash from (used for) financing activities	(210)		446
Free cash flow*	92		189

Operating Activities

Cash generated from operating activities in the six months ended June 30, 2024 was $300 million and included Net income of $823 million, non-cash charges primarily for depreciation and amortization of $297 million, and $820 million in outflows from incremental changes in assets and liabilities, primarily driven by compensation and benefit payments, company-funded benefit payments for postretirement benefit plans, and an increase in inventories mainly due to inventory build to meet higher demand in the second half of the year.

Cash generated from operating activities in the six months ended June 30, 2023 was $401 million and included Net income of $816 million, non-cash charges primarily for depreciation and amortization of $313 million, and $728 million in outflows from incremental changes in assets and liabilities, primarily driven by company funded benefit payments for postretirement benefit plans, an increase in inventories mainly due to inventory build to meet higher demand in the second half of the year, and compensation and benefit payments.

Investing Activities

Cash used for investing activities in the six months ended June 30, 2024 was $537 million and primarily included purchases of businesses, net of cash acquired, of $259 million related to MIM Software Inc. (“MIM Software”), and additions to PP&E of $209 million related mostly to manufacturing capacity expansion and new product introductions. Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for additional information on the MIM Software acquisition.

Cash used for investing activities in the six months ended June 30, 2023 was $350 million and primarily included additions to PP&E of $213 million related mostly to new product introductions, manufacturing capacity expansion, and purchases of businesses, net of cash acquired, of $147 million primarily related to Caption Health, Inc.

Financing Activities

Cash used for financing activities in the six months ended June 30, 2024 was $210 million and primarily included a repayment of $150 million of our outstanding Term Loan Facility.

Cash generated from financing activities in the six months ended June 30, 2023 was $446 million and primarily included $2,000 million of newly issued debt, partially offset by $1,317 million of transfers to GE, and $211 million of Redemption of noncontrolling interests.

Free cash flow*

Free cash flow* was $92 million for the six months ended June 30, 2024 and primarily included $300 million of cash generated from operating activities, partially offset by $209 million of cash used for additions to PP&E.

Free cash flow* was $189 million for the six months ended June 30, 2023 and primarily included $401 million of cash generated from operating activities, partially offset by $213 million of cash used for additions to PP&E.

Capital Expenditures

Cash used for capital expenditures was $209 million and $213 million for the six months ended June 30, 2024 and 2023, respectively. Capital expenditures were primarily for manufacturing capacity expansion, new product introductions, and equipment and tooling for new and existing products.

____________________

*Non-GAAP Financial Measure

40

Material Cash Requirements

In the normal course of business, we enter into contracts and commitments that obligate us to make payments in the future. Information regarding our obligations under lease, debt, and other commitments are provided in Note 7, “Leases,” Note 9, “Borrowings,” and Note 14, “Commitments, Guarantees, Product Warranties, and Other Loss Contingencies” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We have material cash requirements related to our pension obligations as described in Note 9, “Postretirement Benefit Plans.” Additionally, on April 1, 2024, we funded the acquisition of MIM Software with cash on hand. Further information regarding this acquisition is provided in Note 7, “Acquisitions, Goodwill, and Other Intangible Assets.”

Debt and Credit Facilities

As part of our capital structure, we have incurred debt. The servicing of this debt is supported by cash flows from our operations. As of June 30, 2024, we had $9,240 million of total debt compared to $9,442 million as of December 31, 2023. The decrease in debt was mainly driven by a repayment of $150 million of the outstanding Term Loan Facility in the first quarter of 2024. As of June 30, 2024, there were $1,000 million of senior notes due in November 2024 recognized within Short-term borrowings in our Condensed Consolidated Statements of Financial Position.

The weighted average interest rate for the Notes and our Credit Facilities for the six months ended June 30, 2024 was 6.08%. We had no principal debt repayments on the Notes for the six months ended June 30, 2024.

In addition to the Term Loan Facility, our credit facilities include a five-year senior unsecured revolving facility that provides borrowings of up to $2,500 million expiring in January 2028, and a 364-day senior unsecured revolving facility that provides borrowings of up to $1,000 million expiring in December 2024. As of June 30, 2024, there were no outstanding borrowings on either of the two revolving facilities.

The Credit Facilities include various customary covenants that limit, among other things, the incurrence of liens securing debt, the entry into certain fundamental change transactions by GE HealthCare, and the maximum permitted leverage ratio. As of June 30, 2024, we were in compliance with the covenant requirements, including the maximum consolidated net leverage ratio.

For additional details on debt and credit facilities, see Note 8, “Borrowings.”

Access to Capital and Credit Ratings

In connection with the Spin-Off, we accessed the capital markets and raised $10,250 million of debt by issuing $8,250 million of senior unsecured notes in November 2022, and completed a drawdown of the Term Loan Facility of $2,000 million in January 2023. In addition, we arranged $3,500 million of revolving credit facilities to further support our liquidity needs. We plan to continue to rely on capital markets, and we expect to have access to credit facilities to fund our operations. The cost and availability of debt financing will be influenced by our credit ratings and market conditions. Moody’s Investors Service (“Moody’s”), Standard and Poor’s Global Ratings (“S&P”), and Fitch Ratings (“Fitch”) currently issue ratings on our long-term debt. Our credit ratings as of July 24, 2024 are set forth in the table below.

	Moody’s	S&P	Fitch
Long-term rating	Baa2	BBB	BBB
Outlook	Stable	Stable	Stable

We are disclosing our credit ratings to enhance the understanding of our sources of liquidity and the effects of our ratings on our costs of funds and access to liquidity. Our ratings may be subject to a revision or withdrawal at any time by the assigning rating organization, and each rating should be evaluated independently of any other rating.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

For a discussion of recently issued accounting standards, see Note 1, “Organization and Basis of Presentation.”

CRITICAL ACCOUNTING ESTIMATES

Management believes that there have been no significant changes during the six months ended June 30, 2024 to the items that we disclosed as our critical accounting estimates in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

41

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to market risk primarily from changes in interest rates, foreign currency exchange rates, commodity prices, and equity prices, which may impact future income, cash flows, and fair value of our business. There have been no material changes in our exposure to market risk from those disclosed in Item 7A, “Quantitative and Qualitative Disclosures About Market Risk” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES.

Under the supervision and with the participation of the Company’s management, including the Chief Executive Officer and Chief Financial Officer, the Company evaluated its disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of June 30, 2024, and that the information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized, and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING.

During the quarter ended June 30, 2024, the Company continued to exit from various transition service agreements with GE, primarily related to IT systems that impact financial reporting. Consequently, responsibility for execution of related internal controls transferred to the Company, including general IT controls in connection with IT environment changes. Other than those discussed in the preceding sentences, there were no changes in the Company’s internal control over financial reporting that occurred during the quarter ended June 30, 2024 that materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

INHERENT LIMITATIONS ON EFFECTIVENESS OF CONTROLS.

All internal control systems have inherent limitations; as such, they may not prevent or detect all misstatements or all fraud. Therefore, even those internal control systems determined to be effective can provide only reasonable assurance with respect to financial statements preparation and reporting. Additionally, projections of any evaluation of effectiveness to future periods are subject to the risk that the current control structure may become inadequate for changes in conditions or the degree of compliance with the policies may deteriorate.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Information on material pending legal proceedings is incorporated herein by reference to the information set forth in Note 13, “Commitments, Guarantees, Product Warranties, and Other Loss Contingencies” to the financial statements included elsewhere in this Quarterly Report on Form 10-Q.

ITEM 1A. RISK FACTORS

There have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

There were no unregistered sales of equity securities during the period covered by this report.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

42

ITEM 5. OTHER INFORMATION

DIRECTOR AND OFFICER TRADING ARRANGEMENTS.

None of our directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarterly period covered by this report.

ITEM 6. EXHIBITS

Number	Description
3.1	Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 29, 2022).
3.2	Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 29, 2022).
31.1	Certification of the Registrant’s Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of the Registrant’s Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certifications of the Registrant’s Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	The following materials from GE HealthCare Technologies Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, formatted in inline XBRL (eXtensible Business Reporting Language); (1) Condensed Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023; (2) Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023; (3) Condensed Consolidated Statements of Financial Position as of June 30, 2024 and December 31, 2023; (4) Condensed Consolidated Statements of Changes in Equity for the three and six months ended June 30, 2024 and 2023; (5) Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023; and (6) Notes to the Condensed Consolidated Financial Statements.
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

43

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	GE HealthCare Technologies Inc.
	(Registrant)
July 31, 2024	/s/ George A. Newcomb
Date	George A. Newcomb, Controller & Chief Accounting Officer (authorized signatory)

44

EX-31.1

Exhibit 31.1

Certification Pursuant to
Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, Peter J. Arduini, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of GE HealthCare Technologies Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 31, 2024

/s/ Peter J. Arduini

Peter J. Arduini

President & Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification Pursuant to
Rules 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, James K. Saccaro, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of GE HealthCare Technologies Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 31, 2024

/s/ James K. Saccaro

James K. Saccaro

Vice President & Chief Financial Officer

EX-32.1

Exhibit 32.1

Certification Pursuant to
18 U.S.C. Section 1350

In connection with the Quarterly Report of GE HealthCare Technologies Inc. (the “registrant”) on Form 10-Q for the period ended June 30, 2024, as filed with the Securities and Exchange Commission on the date hereof (the “report”), we, Peter J. Arduini and James K. Saccaro, President & Chief Executive Officer and Vice President & Chief Financial Officer, respectively, of the registrant, certify, pursuant to 18 U.S.C. § 1350, that to our knowledge:

(1)The report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

July 31, 2024

/s/ Peter J. Arduini

Peter J. Arduini

President & Chief Executive Officer

/s/ James K. Saccaro

James K. Saccaro

Vice President & Chief Financial Officer

XML

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-41528
Entity Registrant Name	GE HEALTHCARE TECHNOLOGIES INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-2515116
Entity Address, Address Line One	500 W. Monroe Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60661
City Area Code	833
Local Phone Number	735-1139
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	GEHC
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		456,662,253
Amendment Flag	false
Entity Central Index Key	0001932393
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31

XML

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenues	$ 4,839	$ 4,817	$ 9,489	$ 9,524
Gross profit	2,002	1,940	3,904	3,831
Selling, general, and administrative	1,067	1,072	2,105	2,134
Research and development	327	298	651	568
Total operating expenses	1,395	1,370	2,756	2,702
Operating income	608	570	1,148	1,129
Interest and other financial charges – net	131	137	254	273
Non-operating benefit (income) costs	(101)	(123)	(204)	(238)
Other (income) expense – net	(1)	(14)	8	(22)
Income before income taxes	578	570	1,090	1,116
Benefit (provision) for income taxes	(143)	(137)	(267)	(300)
Net income	435	433	823	816
Net (income) loss attributable to noncontrolling interests	(7)	(15)	(21)	(26)
Net income attributable to GE HealthCare	428	418	802	790
Deemed preferred stock dividend of redeemable noncontrolling interest	0	0	0	(183)
Net income attributable to GE HealthCare common stockholders	$ 428	$ 418	$ 802	$ 607
Earnings per share attributable to GE HealthCare common stockholders:
Basic (in dollars per share)	$ 0.94	$ 0.92	$ 1.76	$ 1.34
Diluted (in dollars per share)	$ 0.93	$ 0.91	$ 1.75	$ 1.33
Weighted-average number of shares outstanding:
Basic (in shares)	457	455	456	455
Diluted (in shares)	459	458	459	458
Product
Total revenues	$ 3,207	$ 3,213	$ 6,253	$ 6,344
Cost of revenue	2,045	2,084	4,012	4,121
Service
Total revenues	1,632	1,604	3,237	3,180
Cost of revenue	$ 792	$ 793	$ 1,574	$ 1,572

XML

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income attributable to GE HealthCare	$ 428	$ 418	$ 802	$ 790
Net (income) loss attributable to noncontrolling interests	7	15	21	26
Net income	435	433	823	816
Other comprehensive income (loss):
Currency translation adjustments – net of taxes	(30)	3	(106)	60
Pension and Other Postretirement Plans – net of taxes	(36)	(18)	(71)	(83)
Cash flow hedges – net of taxes	8	10	24	(29)
Other comprehensive income (loss)	(58)	(5)	(154)	(52)
Comprehensive income (loss)	377	428	669	764
Less: Comprehensive income (loss) attributable to noncontrolling interests	7	15	21	26
Comprehensive income attributable to GE HealthCare	$ 370	$ 413	$ 648	$ 738

XML

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Cash, cash equivalents, and restricted cash	$ 2,015	$ 2,504
Inventories	2,023	1,960
Contract and other deferred assets	977	1,000
All other current assets	437	389
Current assets	8,806	9,410
Property, plant, and equipment – net	2,458	2,500
Goodwill	13,116	12,936
Other intangible assets – net	1,195	1,253
Deferred income taxes	4,365	4,474
All other non-current assets	1,913	1,881
Total assets	31,852	32,454
Short-term borrowings	1,007	1,006
Accounts payable	2,824	2,947
Contract liabilities	1,876	1,918
Current compensation and benefits	1,235	1,518
Current liabilities	8,318	8,981
Long-term borrowings	8,233	8,436
Non-current compensation and benefits	5,455	5,782
Deferred income taxes	55	68
All other non-current liabilities	1,796	1,877
Total liabilities	23,858	25,144
Commitments and contingencies
Redeemable noncontrolling interests	177	165
Common stock, par value $0.01 per share, 1,000,000,000 shares authorized, 456,654,068 shares issued and outstanding as of June 30, 2024; 455,342,290 shares issued and outstanding as of December 31, 2023	5	5
Additional paid-in capital	6,540	6,493
Retained earnings	2,101	1,326
Accumulated other comprehensive income (loss) – net	(845)	(691)
Total equity attributable to GE HealthCare	7,801	7,133
Noncontrolling interests	16	12
Total equity	7,817	7,145
Total liabilities, redeemable noncontrolling interests, and equity	31,852	32,454
Nonrelated party
Receivables, net	3,343	3,525
All other current liabilities	1,348	1,493
Related party
Receivables, net	11	32
All other non-current assets	70	81
All other current liabilities	27	99
All other non-current liabilities	$ 41	$ 33

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Condensed Consolidated Statements of Financial Position (Unaudited) (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 103	$ 98
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	456,654,068	455,342,290
Common stock, outstanding (in shares)	456,654,068	455,342,290

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Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Net parent investment	Accumulated other comprehensive income (loss) – net	Equity attributable to noncontrolling interests
Equity, beginning balance (in shares) at Dec. 31, 2022		0
Equity, beginning balance at Dec. 31, 2022	$ 9,362	$ 0	$ 0	$ 0	$ 11,235	$ (1,878)	$ 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net transfers from GE, including Spin-Off-related adjustments	(2,840)				(4,842)	2,000	2
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment (in shares)		454,000,000
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment	0	$ 5	6,388		(6,393)
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		1,000,000
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	11		11
Net income attributable to GE HealthCare	790			790
Dividends declared	(27)			(27)
Other comprehensive income (loss) attributable to GE HealthCare	(52)					(52)
Changes in equity attributable to noncontrolling interests	5						5
Share-based compensation	52		52
Changes in equity due to redemption value adjustments on redeemable noncontrolling interests	(187)			(187)
Equity, ending balance (in shares) at Jun. 30, 2023		455,000,000
Equity, ending balance at Jun. 30, 2023	7,114	$ 5	6,451	576	0	70	12
Equity, beginning balance (in shares) at Mar. 31, 2023		455,000,000
Equity, beginning balance at Mar. 31, 2023	6,696	$ 5	6,425	185	0	75	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net transfers from GE, including Spin-Off-related adjustments	(6)				(9)		3
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment	0		(9)		9
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	7		7
Net income attributable to GE HealthCare	418			418
Dividends declared	(27)			(27)
Other comprehensive income (loss) attributable to GE HealthCare	(5)					(5)
Changes in equity attributable to noncontrolling interests	3						3
Share-based compensation	28		28
Equity, ending balance (in shares) at Jun. 30, 2023		455,000,000
Equity, ending balance at Jun. 30, 2023	$ 7,114	$ 5	6,451	576	$ 0	70	12
Equity, beginning balance (in shares) at Dec. 31, 2023	455,342,290	455,000,000
Equity, beginning balance at Dec. 31, 2023	$ 7,145	$ 5	6,493	1,326		(691)	12
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		1,000,000
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	(24)		(24)
Net income attributable to GE HealthCare	802			802
Dividends declared	(28)			(28)
Other comprehensive income (loss) attributable to GE HealthCare	(154)					(154)
Changes in equity attributable to noncontrolling interests	4						4
Share-based compensation	$ 70		70
Equity, ending balance (in shares) at Jun. 30, 2024	456,654,068	457,000,000
Equity, ending balance at Jun. 30, 2024	$ 7,817	$ 5	6,540	2,101		(845)	16
Equity, beginning balance (in shares) at Mar. 31, 2024		456,000,000
Equity, beginning balance at Mar. 31, 2024	7,423	$ 5	6,504	1,687		(787)	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with employee stock plans, net of shares withheld for employee taxes	0
Net income attributable to GE HealthCare	428			428
Dividends declared	(14)			(14)
Other comprehensive income (loss) attributable to GE HealthCare	(58)					(58)
Changes in equity attributable to noncontrolling interests	2						2
Share-based compensation	$ 36		36
Equity, ending balance (in shares) at Jun. 30, 2024	456,654,068	457,000,000
Equity, ending balance at Jun. 30, 2024	$ 7,817	$ 5	$ 6,540	$ 2,101		$ (845)	$ 16

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Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.03	$ 0.06	$ 0.06	$ 0.06

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows - operating activities
Net income	$ 823	$ 816
Adjustments to reconcile Net income to Cash from (used for) operating activities
Depreciation of property, plant, and equipment	137	124
Amortization of intangible assets	160	189
Gain on fair value remeasurement of contingent consideration	(10)	(3)
Net periodic postretirement benefit plan (income) expense	(180)	(207)
Postretirement plan contributions	(170)	(180)
Share-based compensation	70	52
Provision for income taxes	267	300
Cash paid during the year for income taxes	(287)	(271)
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Receivables	112	(32)
Due from related parties	19	10
Inventories	(116)	(172)
Contract and other deferred assets	12	(64)
Accounts payable	(41)	(40)
Due to related parties	(57)	(11)
Contract liabilities	(20)	111
Current compensation and benefits	(266)	(114)
All other operating activities - net	(155)	(107)
Cash from (used for) operating activities	300	401
Cash flows – investing activities
Additions to property, plant and equipment and internal-use software	(209)	(213)
Dispositions of property, plant, and equipment	0	1
Purchases of businesses, net of cash acquired	(259)	(147)
All other investing activities - net	(69)	9
Cash from (used for) investing activities	(537)	(350)
Cash flows – financing activities
Net increase (decrease) in borrowings (maturities of 90 days or less)	0	(12)
Newly issued debt, net of debt issuance costs (maturities longer than 90 days)	1	2,000
Repayments and other reductions (maturities longer than 90 days)	(156)	(6)
Dividends paid to stockholders	(28)	(14)
Redemption of noncontrolling interests	0	(211)
Net transfers (to) from GE	0	(1,317)
All other financing activities - net	(27)	6
Cash from (used for) financing activities	(210)	446
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash	(41)	(3)
Increase (decrease) in cash, cash equivalents, and restricted cash	(488)	494
Cash, cash equivalents, and restricted cash at beginning of year	2,506	1,451
Cash, cash equivalents, and restricted cash as of June 30	2,018	1,945
Supplemental disclosure of cash flows information
Cash paid during the year for interest	(274)	(250)
Non-cash investing activities
Acquired but unpaid property, plant, and equipment	$ 76	$ 70

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ORGANIZATION AND BASIS OF PRESENTATION

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

ORGANIZATION AND BASIS OF PRESENTATION

GE HealthCare Technologies Inc. and its subsidiaries (“GE HealthCare,” the “Company,” “our,” “us,” or “we”) is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator. We operate at the center of the healthcare ecosystem, helping enable precision care by increasing health system capacity, enhancing productivity, digitizing healthcare delivery, and improving clinical outcomes while serving patients’ demand for greater efficiency, access, and personalized medicine. Our products, services, and solutions are designed to enable clinicians to make more informed decisions quickly and efficiently, improving patient care from diagnosis to therapy to monitoring.

On January 3, 2023, the General Electric Company, which now operates as GE Aerospace, (“GE”) completed the spin-off of GE HealthCare Technologies Inc. (the “Spin-Off”). The Spin-Off was completed through a distribution of approximately 80.1% of the Company’s outstanding common stock to holders of record of GE’s common stock as of the close of business on December 16, 2022 (the “Distribution”), which resulted in the issuance of approximately 454 million shares of common stock. Prior to the Distribution, the Company issued 100 shares of common stock in exchange for $1.00, all of which were held by GE as of December 31, 2022. As a result of the Distribution, the Company became an independent public company. On April 2, 2024, GE completed the separation of its GE Vernova business into an independent publicly traded company. As of June 30, 2024, GE’s beneficial ownership was approximately 6.7% of the Company’s outstanding common stock.

In connection with the Spin-Off, certain adjustments were recorded to reflect transfers from GE, the draw-down of the Term Loan Facility, and settlement of Spin-Off transactions with GE, which resulted in the net reduction in Total equity of $2,840 million. These items substantially consisted of the transfer of: (1) certain pension plan liabilities and assets, (2) certain deferred income taxes, (3) deferred compensation liabilities, and (4) employee termination obligations.

In connection with the Spin-Off, the Company entered into or adopted several agreements that provide a framework for the relationship between the Company and GE. See Note 17, “Related Parties and Transition Services Agreement” for more information on these agreements and related transactions.

The condensed consolidated financial statements (the “financial statements”) have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position and operating results have been included. All intercompany balances and transactions within the Company have been eliminated in the financial statements. Operating results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the fiscal year as a whole. The December 31, 2023 period presented on the Condensed Consolidated Statement of Financial Position was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The following tables are presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows throughout this document may not sum due to the use of rounded numbers. Percentages presented are calculated from the underlying whole-dollar amounts.

Certain prior year amounts in the financial statements and notes thereto have been reclassified to conform to the current year presentation, which provides additional detail to readers of the financial statements. Amounts related to current compensation and benefit obligations that were previously reported within the All other current liabilities and All other operating activities lines on the Condensed Consolidated Statements of Financial Position and Statements of Cash Flows, respectively, have been reclassified to separate lines on the respective financial statements.

The financial statements and notes should be read in conjunction with the Company’s audited consolidated and combined financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

ESTIMATES AND ASSUMPTIONS.

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions, which affect the reported amounts and related disclosures in the financial statements. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position, and cash flows.

RECENT ACCOUNTING PRONOUNCEMENTS.

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires annual and interim disclosures that are expected to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-07.

In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09.

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REVENUE RECOGNITION

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

Our revenues primarily consist of sales of products and services to customers. Products include equipment, imaging agents, software-related offerings, and upgrades. Services include contractual and stand-by preventative maintenance and corrective services, as well as on-demand service parts, extended warranties, training, and other service-type offerings. The Company recognizes revenue from contracts with customers when the customer obtains control of the underlying products or services.

CONTRACT ASSETS.

Contract assets reflect revenue recognized on contracts with customers in excess of billings based on contractual terms. Contract assets are classified as current or non-current based on the amount of time expected to lapse until the Company’s right to consideration becomes unconditional. Other deferred assets consist of costs to obtain contracts, primarily commissions, other cost deferrals for shipped products, and deferred service, labor, and direct overhead costs.

Contract and Other Deferred Assets	As of
	June 30, 2024		December 31, 2023
Contract assets	$	611	$	600
Other deferred assets	367		400
Contract and other deferred assets	977		1,000
Non-current contract assets(1)	81		72
Non-current other deferred assets(1)	96		96
Total contract and other deferred assets	$	1,155	$	1,168

(1)Non-current contract and other deferred assets are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

CONTRACT LIABILITIES.

Contract liabilities include customer advances and deposits received when orders are placed and billed in advance of completion of performance obligations. Contract liabilities are classified as current or non-current based on the periods over which remaining performance obligations (“RPO”) are expected to be satisfied with our customers.

As of June 30, 2024 and December 31, 2023, contract liabilities were approximately $2,562 million and $2,623 million, respectively, of which the non-current portion of $685 million and $705 million, respectively, was recognized in All other non-current liabilities in the Condensed Consolidated Statements of Financial Position. Contract liabilities decreased $61 million in 2024 primarily due to a decrease in customer advances. Revenue recognized related to the contract liabilities balance at the beginning of the year was approximately $1,116 million and $1,105 million for the six months ended June 30, 2024 and 2023, respectively.

REMAINING PERFORMANCE OBLIGATIONS.

RPO represents the estimated revenue expected from customer contracts that are partially or fully unperformed inclusive of amounts deferred in contract liabilities, excluding contracts, or portions thereof, that provide the customer with the ability to cancel or terminate without incurring a substantive penalty. As of June 30, 2024, the aggregate amount of the contracted revenues allocated to our unsatisfied performance obligations was $14,531 million. We expect to recognize revenue as we satisfy our RPO as follows: a) product-related RPO of $4,648 million of which 98% is expected to be recognized within two years, and the remaining thereafter; and b) services-related RPO of $9,883 million of which 64% and 93% are expected to be recognized within two years and five years, respectively, and the remaining thereafter.

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

As of June 30, 2024, GE HealthCare’s operations were organized and managed through four reportable segments: Imaging, Ultrasound, Patient Care Solutions (“PCS”), and Pharmaceutical Diagnostics (“PDx”). These segments have been identified based on the nature of the products sold and how the Company manages its operations. We have not aggregated any of our operating segments to form reportable segments. A description of our reportable segments has been provided in the “Business” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

The performance of these segments was principally measured based on Total revenues and an earnings metric defined as “Segment EBIT.” Segment EBIT is calculated as Income before income taxes in our Condensed Consolidated Statements of Income excluding the impact of the following: Interest and other financial charges – net, Non-operating benefit (income) costs, restructuring costs, acquisition and disposition-related benefits (charges), gain (loss) on business and asset dispositions, Spin-Off and separation costs, amortization of acquisition-related intangible assets, and investment revaluation gain (loss).

Total Revenues by Segment	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Imaging:
Radiology	$	2,171	$	2,227	$	4,233	$	4,315
Interventional Guidance	425		393		829		801
Total Imaging	2,596		2,620		5,062		5,116
Total Ultrasound	823		839		1,647		1,698
PCS:
Monitoring Solutions	538		563		1,065		1,115
Life Support Solutions	235		207		454		436
Total PCS	772		770		1,519		1,551
Total PDx	639		568		1,238		1,126
Other(1)	9		20		24		33
Total revenues	$	4,839	$	4,817	$	9,489	$	9,524

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HealthCare Financial Services (“HFS”) which does not meet the definition of an operating segment.

Segment EBIT	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Segment EBIT
Imaging	$	286	$	278	$	526	$	469
Ultrasound	178		191		360		398
PCS	78		84		159		193
PDx	200		152		378		307
Other(1)	1		6		1		8
	742		711		1,423		1,375
Restructuring costs	(29)		(19)		(68)		(31)
Acquisition and disposition-related benefits (charges)	3		2		3		1
Gain (loss) on business and asset dispositions	—		—		—		—
Spin-Off and separation costs	(67)		(72)		(126)		(130)
Amortization of acquisition-related intangible assets	(35)		(32)		(66)		(63)
Investment revaluation gain (loss)	(6)		(6)		(26)		(1)
Interest and other financial charges – net	(131)		(137)		(254)		(273)
Non-operating benefit income (costs)	101		123		204		238
Income before income taxes	$	578	$	570	$	1,090	$	1,116

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HFS and certain other business activities which do not meet the definition of an operating segment.

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RECEIVABLES

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

RECEIVABLES

RECEIVABLES

Current Receivables	As of
	June 30, 2024		December 31, 2023
Current customer receivables(1)	$	3,174	$	3,339
Non-income based tax receivables	143		166
Other sundry receivables	129		118
Current sundry receivables	272		284
Allowance for credit losses	(103)		(98)
Total current receivables – net	$	3,343	$	3,525

(1) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $126 million and $144 million as of June 30, 2024 and December 31, 2023, respectively.

Long-Term Receivables	As of
	June 30, 2024		December 31, 2023
Long-term customer receivables	$	63	$	55
Non-income based tax receivables	23		26
Other sundry receivables	97		73
Long-term sundry receivables	120		99
Allowance for credit losses	(30)		(30)
Total long-term receivables – net(1)	$	153	$	124

(1) Long-term receivables are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

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FINANCING RECEIVABLES

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

FINANCING RECEIVABLES

FINANCING RECEIVABLES

	As of
	June 30, 2024		December 31, 2023
Loans receivable, at amortized cost	$	26	$	29
Investment in financing leases, net of deferred income	70		71
Allowance for credit losses	(3)		(3)
Current financing receivables – net(1)	93		97
Loans receivable, at amortized cost	33		37
Investment in financing leases, net of deferred income	144		146
Allowance for credit losses	(5)		(5)
Non-current financing receivables – net(1)	$	172	$	178

(1) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other non-current assets, respectively, in the Condensed Consolidated Statements of Financial Position.

As of June 30, 2024, 4%, 4%, and 4% of financing receivables were over 30 days past due, over 90 days past due, and on nonaccrual, respectively, with the majority of nonaccrual financing receivables secured by collateral. As of December 31, 2023, 5%, 5%, and 6% of financing receivables were over 30 days past due, over 90 days past due, and on nonaccrual, respectively, with the majority of nonaccrual financing receivables secured by collateral.

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LEASES

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

LEASES

LEASES

Operating lease liabilities recognized within All other current liabilities and All other non-current liabilities in the Condensed Consolidated Statements of Financial Position were $380 million and $383 million as of June 30, 2024 and December 31, 2023, respectively. The total lease expense related to our operating lease portfolio was $59 million and $57 million for the three months ended June 30, 2024 and 2023, respectively, and $119 million and $113 million for the six months ended June 30, 2024 and 2023, respectively.

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ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

ACQUISITIONS.

MIM Software

On April 1, 2024, the Company acquired 100% of the stock of MIM Software Inc. (“MIM Software”) for approximately $259 million, net of cash acquired, $13 million of potential earn-out payments, and up to $23 million of other contingent payments based on service requirements. The acquisition was funded with cash on hand. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $195 million, customer-related intangible assets of $52 million, developed technology intangible assets of $48 million, net deferred tax liabilities of $19 million, and other net assets of $7 million. The goodwill associated with the acquired business, recorded within the Imaging segment, is non-deductible for tax purposes and is attributed to expected synergies and commercial benefits from use of the MIM Software technology in our existing GE HealthCare portfolio. MIM Software is a global provider of medical imaging analysis and artificial intelligence (“AI”) solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centers, hospitals, specialty clinics, and research organizations worldwide.

Revenue and earnings of MIM Software included in the Company’s financial statements since the acquisition date are not material to our consolidated revenue and earnings. If the acquisition of MIM Software had taken place as of the beginning of 2023, consolidated revenues and earnings would not have been significantly different from reported amounts.

Caption Health

On February 17, 2023, the Company acquired 100% of the stock of Caption Health, Inc. (“Caption Health”) for $127 million of upfront payment, $10 million of future holdback payment, and potential earn-out payments valued at $13 million based primarily on various milestones and sales targets. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $94 million, intangible assets of $60 million, and deferred tax liabilities of $3 million. The purchase price allocation for Caption Health was finalized in the first quarter of 2024 without material adjustments. The goodwill associated with the acquired business is non-deductible for tax purposes and is reported in the Ultrasound segment. Caption Health is an AI company whose technology expands access to AI-guided ultrasound screening for novice users.

GOODWILL.

	Balance as of December 31, 2023		Acquisitions		Foreign exchange and other		Balance as of June 30, 2024
Imaging	$	4,431	$	195	$	(7)	$	4,620
Ultrasound	3,933		—		(7)		3,926
PCS	2,038		—		(1)		2,036
PDx	2,534		—		(1)		2,533
Total Goodwill	$	12,936	$	195	$	(15)	$	13,116

We assess the possibility that a reporting unit’s fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. We did not identify any reporting units that required an interim impairment test since the last annual impairment testing date.

OTHER INTANGIBLE ASSETS.

Intangible assets decreased during the six months ended June 30, 2024, primarily as a result of amortization, partially offset by additions related to the acquisition of MIM Software. Substantially all of our intangible assets are subject to amortization. Amortization expense was $81 million and $93 million for the three months ended June 30, 2024 and 2023, respectively, and $160 million and $189 million for the six months ended June 30, 2024 and 2023, respectively.

ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS

ACQUISITIONS.

MIM Software

On April 1, 2024, the Company acquired 100% of the stock of MIM Software Inc. (“MIM Software”) for approximately $259 million, net of cash acquired, $13 million of potential earn-out payments, and up to $23 million of other contingent payments based on service requirements. The acquisition was funded with cash on hand. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $195 million, customer-related intangible assets of $52 million, developed technology intangible assets of $48 million, net deferred tax liabilities of $19 million, and other net assets of $7 million. The goodwill associated with the acquired business, recorded within the Imaging segment, is non-deductible for tax purposes and is attributed to expected synergies and commercial benefits from use of the MIM Software technology in our existing GE HealthCare portfolio. MIM Software is a global provider of medical imaging analysis and artificial intelligence (“AI”) solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centers, hospitals, specialty clinics, and research organizations worldwide.

Revenue and earnings of MIM Software included in the Company’s financial statements since the acquisition date are not material to our consolidated revenue and earnings. If the acquisition of MIM Software had taken place as of the beginning of 2023, consolidated revenues and earnings would not have been significantly different from reported amounts.

Caption Health

On February 17, 2023, the Company acquired 100% of the stock of Caption Health, Inc. (“Caption Health”) for $127 million of upfront payment, $10 million of future holdback payment, and potential earn-out payments valued at $13 million based primarily on various milestones and sales targets. This transaction was accounted for as a business combination. The preliminary purchase price allocation resulted in goodwill of $94 million, intangible assets of $60 million, and deferred tax liabilities of $3 million. The purchase price allocation for Caption Health was finalized in the first quarter of 2024 without material adjustments. The goodwill associated with the acquired business is non-deductible for tax purposes and is reported in the Ultrasound segment. Caption Health is an AI company whose technology expands access to AI-guided ultrasound screening for novice users.

GOODWILL.

	Balance as of December 31, 2023		Acquisitions		Foreign exchange and other		Balance as of June 30, 2024
Imaging	$	4,431	$	195	$	(7)	$	4,620
Ultrasound	3,933		—		(7)		3,926
PCS	2,038		—		(1)		2,036
PDx	2,534		—		(1)		2,533
Total Goodwill	$	12,936	$	195	$	(15)	$	13,116

We assess the possibility that a reporting unit’s fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. We did not identify any reporting units that required an interim impairment test since the last annual impairment testing date.

OTHER INTANGIBLE ASSETS.

Intangible assets decreased during the six months ended June 30, 2024, primarily as a result of amortization, partially offset by additions related to the acquisition of MIM Software. Substantially all of our intangible assets are subject to amortization. Amortization expense was $81 million and $93 million for the three months ended June 30, 2024 and 2023, respectively, and $160 million and $189 million for the six months ended June 30, 2024 and 2023, respectively.

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BORROWINGS

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

BORROWINGS

BORROWINGS

The Company’s borrowings include the following senior unsecured notes and credit agreements:

Senior Unsecured Notes

The Company’s borrowings include $8,250 million aggregate principal amount of senior unsecured notes in six series with maturity dates ranging from 2024 through 2052 (collectively, the “Notes”). Refer to the table below for further information about the Notes.

Credit Facilities

The Company has credit agreements providing for:

•a five-year senior unsecured revolving credit facility in an aggregate committed amount of $2,500 million, maturing on January 3, 2028;

•a 364-day senior unsecured revolving credit facility in an aggregate committed amount of $1,000 million, maturing on December 11, 2024; and

•a three-year senior unsecured term loan credit facility in an aggregate principal amount of $2,000 million, maturing on January 2, 2026 (the “Term Loan Facility” and, together with the five-year revolving credit facility and the 364-day revolving credit facility, the “Credit Facilities”).

There were no outstanding amounts under the five-year revolving credit facility and 364-day revolving credit facility as of June 30, 2024 or December 31, 2023.

As of June 30, 2024, we have repaid a total of $1,000 million of the Term Loan Facility, $150 million of which was paid in the current year. We had no principal debt repayments on the Notes for the six months ended June 30, 2024.

Borrowings Composition	As of
	June 30, 2024		December 31, 2023
5.550% senior notes due November 15, 2024	$	1,000	$	1,000
5.600% senior notes due November 15, 2025	1,500		1,500
5.650% senior notes due November 15, 2027	1,750		1,750
5.857% senior notes due March 15, 2030	1,250		1,250
5.905% senior notes due November 22, 2032	1,750		1,750
6.377% senior notes due November 22, 2052	1,000		1,000
Floating rate Term Loan Facility due January 2, 2026	1,000		1,150
Other	47		52
Total principal debt issued	9,297		9,452
Less: Unamortized debt issuance costs and discounts	30		35
Add: Cumulative basis adjustment for fair value hedges	(27)		25
Total borrowings	9,240		9,442
Less: Short-term borrowings(1)	1,007		1,006
Long-term borrowings	$	8,233	$	8,436

(1) Short-term borrowings as of June 30, 2024 and December 31, 2023 includes $1,003 million and $1,002 million, respectively, related to the current portion of our long-term borrowings, net of unamortized debt issuance costs and discounts.

See Note 12, “Financial Instruments and Fair Value Measurements” for further information about borrowings and associated derivatives contracts.

LETTERS OF CREDIT, GUARANTEES, AND OTHER COMMITMENTS.

As of June 30, 2024 and December 31, 2023, the Company had bank guarantees and surety bonds of approximately $812 million and $751 million, respectively, related to certain commercial contracts. Additionally, we have issued approximately $28 million and $39 million of guarantees as of June 30, 2024 and December 31, 2023, respectively, primarily related to residual value and credit guarantees on equipment sold to third-party finance companies. Our Condensed Consolidated Statements of Financial Position reflect a liability of $4 million as of June 30, 2024 and December 31, 2023 related to these guarantees. For credit-related guarantees, we estimate our expected credit losses related to off-balance sheet credit exposure consistent with the method used to estimate the allowance for credit losses on financial assets held at amortized cost. See Note 13, “Commitments, Guarantees, Product Warranties, and Other Loss Contingencies” for further information on guarantee arrangements with GE.

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POSTRETIREMENT BENEFIT PLANS

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

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 Other Postretirement Plans (“OPEB Plans”). Please refer to Note 10, “Postretirement Benefit Plans” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 for further information. On January 1, 2024, we transitioned from legacy GE multiple-employer OPEB plans to GE HealthCare sponsored single-employer OPEB plans. This change did not have an impact on our results of operations or financial position. Pension plans with pension assets or obligations less than $50 million are not included in the results below.

Components of Expense (Income)	For the three months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	7	$	9	$	6	$	6	$	2	$	2
Interest cost	227		238		50		53		14		15
Expected return on plan assets	(284)		(293)		(63)		(64)		—		—
Amortization of net loss (gain)	(19)		(35)		5		3		(15)		(16)
Amortization of prior service cost (credit)	2		—		—		(1)		(22)		(22)
Non-operating	$	(74)	$	(90)	$	(8)	$	(10)	$	(23)	$	(23)
Net periodic expense (income)	$	(67)	$	(81)	$	(2)	$	(4)	$	(21)	$	(21)

	For the six months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB Plans
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	14	$	17	$	12	$	12	$	4	$	4
Interest cost	454		478		100		105		27		30
Expected return on plan assets	(567)		(586)		(126)		(127)		—		—
Amortization of net loss (gain)	(38)		(66)		10		5		(30)		(32)
Amortization of prior service cost (credit)	4		—		—		(2)		(44)		(44)
Non-operating	$	(147)	$	(174)	$	(16)	$	(20)	$	(47)	$	(46)
Net periodic expense (income)	$	(133)	$	(157)	$	(4)	$	(8)	$	(43)	$	(42)

In the six months ended June 30, 2024, the Company made cash benefit payments totaling $59 million to its Principal Pension Plans, $40 million to its Other Pension Plans, and $71 million to its OPEB Plans. In 2024, the Company expects to make total cash contributions of approximately $336 million to these plans. The Company does not have a required minimum funding contribution for its U.S.-based GE HealthCare Pension Plan in 2024. Future contributions will depend on market conditions, interest rates, and other factors.

Defined Contribution Plan

GE HealthCare sponsors a defined contribution plan for its eligible U.S. employees. Expenses associated with our employees’ participation in GE HealthCare’s defined contribution plan were $40 million and $33 million for the three months ended June 30, 2024 and 2023, respectively, and $73 million and $66 million for the six months ended June 30, 2024 and 2023, respectively.

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INCOME TAXES

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

Our effective income tax rate was 24.7% and 24.0% for the three months ended June 30, 2024 and 2023, respectively, and 24.5% and 26.9% for the six months ended June 30, 2024 and 2023, respectively. The tax rate for the three and six months ended June 30, 2024 and 2023 is higher than the U.S. statutory rate primarily due to the cost of global activities, including the U.S. taxation on international operations, withholding taxes, and state taxes.

Post Spin-Off, the Company’s previously undistributed earnings of our foreign subsidiaries are no longer indefinitely reinvested in non-U.S. businesses due to current U.S. funding needs. Therefore, in the first quarter of 2023, an incremental deferred tax liability of $30 million was recorded for withholding and other foreign taxes due upon future distribution of earnings. In addition, the Company is providing for withholding and other foreign taxes due upon future distribution of current period earnings.

The Company is currently being audited in a number of jurisdictions for tax years 2004-2022, including China, Germany, Norway, the United Kingdom, and the United States.

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

Changes in Accumulated other comprehensive income (loss) (“AOCI”) by component, net of income taxes, were as follows.

	For the three months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2024	$	(1,781)	$	997	$	(2)	$	(787)
Other comprehensive income (loss) before reclassifications – net of taxes of $(6), $—, and $(2)	(30)		(1)		9		(23)
Reclassifications from AOCI – net of taxes(2) of $—, $10, and $—	—		(35)		—		(36)
Other comprehensive income (loss)	(30)		(36)		8		(58)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

	For the three months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2023	$	(1,760)	$	1,865	$	(30)	$	75
Other comprehensive income (loss) before reclassifications – net of taxes of $28, $(11), and $(2)	3		36		5		44
Reclassifications from AOCI – net of taxes(2) of $—, $17, and $(1)	—		(54)		5		(49)
Other comprehensive income (loss)	3		(18)		10		(5)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

	For the six months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2023	$	(1,706)	$	1,033	$	(18)	$	(691)
Other comprehensive income (loss) before reclassifications – net of taxes of $(14), $(1), and $(7)	(106)		1		24		(81)
Reclassifications from AOCI – net of taxes(2) of $—, $22, and $—	—		(73)		—		(73)
Other comprehensive income (loss)	(106)		(71)		24		(154)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

	For the six months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2022	$	(1,845)	$	(42)	$	9	$	(1,878)
Other comprehensive income (loss) before reclassifications – net of taxes of $17, $(9), and $2	60		23		(8)		75
Reclassifications from AOCI – net of taxes(2) of $—, $33, and $6	—		(106)		(21)		(127)
Other comprehensive income (loss)	60		(83)		(29)		(52)
Spin-Off related adjustments – net of taxes of $—, $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and six months ended June 30, 2024 and 2023 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.”

(2) Reclassifications from AOCI into earnings for Pension and Other Postretirement Plans are recognized within Non-operating benefit (income) costs, while Cash flow hedges are recognized within Cost of products and Cost of services in our Condensed Consolidated Statements of Income.

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

DERIVATIVES AND HEDGING.

Our primary objective in executing and holding derivative contracts is to reduce the volatility of earnings and cash flows associated with risks related to foreign currency exchange rates, interest rates, and equity prices. These derivative contracts reduce, but do not entirely eliminate, the aforementioned risks. Our policy is to use derivative contracts solely for managing risks and not for speculative purposes.

Cash Flow Hedges

For derivative instruments designated as cash flow hedges, changes in the fair value of designated hedging instruments are initially recorded as a component of AOCI and subsequently reclassified to earnings in the period in which the hedged transaction affects earnings and to the same financial statement line item impacted by the hedged transaction. As of June 30, 2024, we expect to reclassify $7 million of pre-tax net deferred gains associated with designated cash flow hedges to earnings in the next 12 months, contemporaneously with the impact on earnings of the related hedged transactions.

The cash flows associated with derivatives designated as cash flow hedges are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

Net Investment Hedges

We use cross-currency interest rate swaps and foreign currency forward contracts in combination with foreign currency option contracts to hedge the foreign currency risk associated with our net investment in foreign operations. As of June 30, 2024, these contracts were designated as hedges of our net investment in foreign operations, primarily in Euro and Chinese Renminbi currencies.

The cash flows associated with derivatives designated as net investment hedges are recorded in All other investing activities in the Condensed Consolidated Statements of Cash Flows. Cash flows from the periodic interest settlements on the cross-currency swaps are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

Fair Value Hedges

We use interest rate swaps to hedge the interest rate risk on our fixed rate borrowings. These derivatives are designated as fair value hedges to hedge the changes in fair value due to benchmark interest rate risk of specific designated cash flows of our senior unsecured notes.

We record the changes in fair value on these swap contracts in Interest and other financial charges – net in our Condensed Consolidated Statements of Income, the same line item where the offsetting change in the fair value of the designated cash flows of the senior unsecured note is recorded as a basis adjustment.

Cash flows for the periodic interest settlements on the interest rate swaps are recorded in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

Derivatives Not Designated as Hedging Instruments

We also execute derivative instruments, such as foreign currency forward contracts and equity-linked total return swaps, which are not designated as qualifying hedges. These derivatives serve as economic hedges of the foreign currency rate risk and equity price risk. We also identify and record foreign currency-related features in our purchase or sales contracts where the currency is not the local or functional currency of any substantive party to the contract and record them as embedded derivatives.

The changes in fair value of derivatives not designated in qualifying hedge transactions are recorded in Cost of products, Cost of services, Selling, general, and administrative (“SG&A”), and Other (income) expense – net in the Condensed Consolidated Statements of Income based on the nature of the underlying hedged transaction. Changes in fair value of embedded derivatives are recognized in Other (income) expense – net in the Condensed Consolidated Statements of Income.

The cash flows associated with derivatives not designated but used as economic hedges are recorded, based on the nature of the underlying hedged transaction, in All other operating activities and All other investing activities in the Condensed Consolidated Statements of Cash Flows. The cash flows related to embedded derivatives are included in All other operating activities in the Condensed Consolidated Statements of Cash Flows.

The following table presents the gross fair values of our outstanding derivative instruments.

Fair Value of Derivatives	June 30, 2024						December 31, 2023
	Gross Notional		Fair Value – Assets		Fair Value – Liabilities		Gross Notional		Fair Value – Assets		Fair Value – Liabilities
Foreign currency forward contracts	$	1,411	$	21	$	13	$	1,356	$	8	$	30
Derivatives accounted for as cash flow hedges	1,411		21		13		1,356		8		30
Cross-currency swaps(1)	2,149		—		148		2,209		—		204
Foreign currency forward and options contracts	1,859		17		12		991		9		11
Derivatives accounted for as net investment hedges	4,008		17		160		3,200		9		215
Interest rate swaps(1)	1,700		—		27		1,000		35		10
Derivatives accounted for as fair value hedges	1,700		—		27		1,000		35		10
Foreign currency forward contracts	4,108		9		8		3,597		19		12
Other derivatives(1)(2)	409		25		1		438		57		2
Derivatives not designated as hedging instruments	4,517		34		9		4,035		76		14
Total derivatives	$	11,636	$	72	$	209	$	9,591	$	128	$	269

(1) Accrued interest was immaterial for the periods presented and is excluded from fair value. These amounts are recognized within All other current assets and All other current liabilities in the Condensed Consolidated Statements of Financial Position.

(2) Other derivatives are comprised of embedded derivatives and derivatives related to equity contracts. As of December 31, 2023, Other derivatives also included commodity contracts.

The following table presents amounts recorded in Long-term borrowings in the Condensed Consolidated Statements of Financial Position related to cumulative basis adjustment for fair value hedges.

	June 30, 2024				December 31, 2023
	Carrying amount		Cumulative basis adjustment included in the carrying amount		Carrying amount		Cumulative basis adjustment included in the carrying amount
Long-term borrowings designated in fair value hedges	$	1,669	$	(27)	$	1,023	$	25

Under the master arrangements with the respective counterparties to our derivative contracts, in certain circumstances and subject to applicable requirements, we are allowed to net settle transactions with a single net amount payable by one party to the other. However, we have elected to present the derivative assets and derivative liabilities on a gross basis on our Condensed Consolidated Statements of Financial Position and in the table above.

As of June 30, 2024 and December 31, 2023, the potential effect of rights of offset associated with the derivative contracts would be an offset to both assets and liabilities by $41 million, respectively.

The table below presents the pre-tax gains (losses) recognized in OCI associated with the Company’s cash flow and net investment hedges.

Pre-tax Gains (Losses) Recognized in OCI Related to Cash Flow and Net Investment Hedges
	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Cash flow hedges	$	11	$	7	$	31	$	(10)
Net investment hedges(1)	27		(36)		59		(71)

(1) Amounts recognized in OCI for excluded components for the periods presented were immaterial.

The tables below present the gains (losses) on our derivative financial instruments and hedging activity in the Condensed Consolidated Statements of Income.

Derivative Financial Instruments and Hedging Activity	For the three months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	1	$	—	$	—	$	—	$	—
Effects of cash flow hedges	1		—		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and options contracts	—		—		—		2		—
Effects of net investment hedges(1)	—		—		—		11		—
Interest rate swaps(4)	—		—		—		(21)		—
Debt basis adjustment on Long-term borrowings	—		—		—		14		—
Effects of fair value hedges	—		—		—		(7)		—
Foreign currency forward contracts	5		1		—		—		—
Other derivatives(2)	—		—		1		—		3
Effects of derivatives not designated as hedging instruments	5		1		1		—		3

	For the three months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	(5)	$	(1)	$	—	$	—	$	—
Effects of cash flow hedges	(5)		(1)		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		9		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	3		1		—		—		4
Other derivatives(2)	—		—		18		—		—
Effects of derivatives not designated as hedging instruments	3		1		18		—		4

	For the six months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	—	$	—	$	—	$	—	$	—
Effects of cash flow hedges	—		—		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and options contracts	—		—		—		4		—
Effects of net investment hedges(1)	—		—		—		21		—
Interest rate swaps(4)	—		—		—		(66)		—
Debt basis adjustment on Long-term borrowings	—		—		—		52		—
Effects of fair value hedges	—		—		—		(13)		—
Foreign currency forward contracts	(7)		(2)		—		—		—
Other derivatives(2)	—		—		5		—		23
Effects of derivatives not designated as hedging instruments	(7)		(2)		5		—		23

	For the six months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	22	$	5	$	—	$	—	$	—
Effects of cash flow hedges	22		5		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		17		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	10		3		—		—		5
Other derivatives(2)	—		—		33		—		—
Effects of derivatives not designated as hedging instruments	10		3		33		—		5

(1) Changes in fair value related to components other than the spot rate are excluded from effectiveness testing for the three and six months ended June 30, 2024 and 2023.

(2) Other derivatives are primarily comprised of embedded derivatives and derivatives related to equity contracts.

(3) Amounts are inclusive of gains (losses) in Other (income) expense – net in the Condensed Consolidated Statements of Income.

(4) Amount includes $(7) million and $(13) million of interest expense on interest rate derivatives for the three and six months ended June 30, 2024, respectively.

FAIR VALUE MEASUREMENTS.

The following table represents assets and liabilities that are recorded and measured at fair value on a recurring basis.

Fair Value of Assets and Liabilities Measured on a Recurring Basis
	As of June 30, 2024								As of December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	215	$	—	$	215	$	—	$	200	$	—	$	200
Investment securities	26		—		—		26		31		—		—		31
Derivatives	—		72		—		72		—		128		—		128
Liabilities:
Deferred compensation	237		6		—		243		264		5		—		269
Derivatives	—		209		—		209		—		269		—		269
Contingent consideration	—		—		42		42		—		—		44		44

Cash equivalents

As of June 30, 2024 and December 31, 2023, Cash, cash equivalents and restricted cash of $2,015 million and $2,504 million, respectively, included money market funds of $215 million and $200 million, and other cash equivalents of $695 million and $1,023 million, respectively. The carrying values of the other cash equivalents approximate fair value due to their short maturities and are valued using Level 1 or Level 2 inputs.

Deferred compensation

The deferred compensation liabilities as of June 30, 2024 and December 31, 2023 are comprised of market-based obligations indexed to the S&P 500 index fund and GE HealthCare stock in Level 1, and mutual funds in Level 2.

Derivatives

Derivatives are measured at fair value using a discounted cash flow method or option models using interest rates, foreign exchange spot and forward rates and yield curves observable at commonly quoted intervals, implied volatilities, and credit spreads as key inputs. Unobservable inputs relate to our own credit risk which is not significant to the overall measurement of fair value.

Contingent consideration

The contingent consideration liabilities as of June 30, 2024 and December 31, 2023 were recorded in connection with business acquisitions. The contingent consideration is recorded at fair value based on estimates of future cash flows associated with the acquired businesses. To the extent that the valuation of these liabilities is based on inputs that are less observable or not observable in the market, the determination of fair value requires more judgment. Accordingly, the fair value of contingent consideration is classified within Level 3 of the fair value hierarchy.

Non-recurring fair value measurements

Changes in fair value measurements of assets and liabilities measured at fair value on a non-recurring basis, such as equity method investments, equity investments without readily determinable fair value, financing receivables, and long-lived assets, were not material for the six months ended June 30, 2024 and 2023.

Fair value of other financial instruments

The estimated fair value of borrowings as of June 30, 2024 and December 31, 2023 was $9,609 million and $9,959 million, respectively, compared to a carrying value (which includes a reduction for unamortized debt issuance costs and discounts and cumulative basis adjustment) of $9,240 million and $9,442 million, respectively. The fair value of our borrowings includes accrued interest and is determined based on observable and quoted prices and spreads of comparable debt and benchmark securities and is considered Level 2 in the fair value hierarchy. See Note 8, “Borrowings” for further information.

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COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES

COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES

GUARANTEES.

The Company has off-balance sheet credit exposure through standby letters of credit, bank guarantees, bid bonds, and surety bonds. See Note 8, “Borrowings” for further information.

Following the Spin-Off, which was completed pursuant to a Separation and Distribution Agreement (the “Separation and Distribution Agreement”), the Company had remaining performance guarantees on behalf of GE. Under the Separation and Distribution Agreement, GE was obligated to use reasonable best efforts to replace the Company as the guarantor or terminate all such performance guarantees. Until such termination or replacement, in the event of non-fulfillment of contractual obligations by the relevant obligors, the Company could have been obligated to make payments under the applicable instruments for which GE was obligated to reimburse and indemnify the Company. As of December 31, 2023, the Company’s maximum aggregate exposure, subject to GE reimbursement, was approximately $114 million. In the second quarter of 2024, these remaining performance guarantees were all terminated or replaced.

PRODUCT WARRANTIES.

We provide warranty coverage to our customers as part of customary practices in the market to provide assurance that the products we sell comply with agreed-upon specifications. We provide estimated product warranty expenses when we sell the related products. Warranty accruals are estimates that are based on the best available information, mostly historical claims experience, therefore claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties follows.

	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	192	$	193
Current-year provisions	96		102
Expenditures	(112)		(105)
Other changes	(4)		—
Balance at end of period	$	172	$	190

Product warranties are recognized within All other current liabilities in the Condensed Consolidated Statements of Financial Position.

LEGAL MATTERS.

In the normal course of our business, we are involved from time to time in various arbitrations; class actions; commercial, intellectual property, and product liability litigation; government investigations; investigations by competition/antitrust authorities; and other legal, regulatory, or governmental actions, including the significant matters described below that could have a material impact on our results of operations and cash flows. 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 such 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.

Contracts with Iraqi Ministry of Health

In 2017, a number of U.S. Service members, civilians, and their families brought a complaint in the U.S. District Court for the District of Columbia (the “District Court”) against a number of pharmaceutical and medical device companies, including GE HealthCare and certain affiliates, alleging that the defendants violated the U.S. Anti-Terrorism Act. The complaint seeks monetary relief and alleges that the defendants provided funding for an Iraqi terrorist organization through their sales practices pursuant to pharmaceutical and medical device contracts with the Iraqi Ministry of Health. In July 2020, the District Court granted defendants’ motions to dismiss and dismissed all of the plaintiffs’ claims. In January 2022, a panel of the U.S. Court of Appeals for the District of Columbia Circuit reversed the District Court’s decision. In February 2022, the defendants requested review of the decision by all of the judges on the U.S. Court of Appeals for the District of Columbia Circuit (the “D.C. Circuit”). In February 2023, the D.C. Circuit denied this request. In June 2023, defendants petitioned the Supreme Court to review the D.C. Circuit’s decision. On June 24, 2024, the Supreme Court vacated the D.C. Circuit’s decision and remanded the case to the D.C. Circuit for further consideration in light of Twitter, Inc. v. Taamneh, a separate case decided by the Supreme Court in May 2023. The proceedings in the District Court are currently inactive.

Government Disclosures

From time to time, we make self-disclosures regarding our compliance with the Foreign Corrupt Practices Act (“FCPA”) and similar laws to relevant authorities who may pursue or decline to pursue enforcement proceedings against us. We, with the assistance of outside counsel, made voluntary self-disclosures to the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) beginning in 2018 regarding tender irregularities and other potential violations of the FCPA relating to our activities in certain provinces in China. We have been engaged in ongoing discussions with each of the SEC and the DOJ regarding these matters. We are fully cooperating with the reviews by these agencies and have implemented, and continue to implement, enhancements to our compliance policies and practices. At this time, we are unable to predict the duration, scope, result, or related costs associated with these disclosures to the SEC and the DOJ. We also are unable to predict what, if any, action may be taken by the SEC or the DOJ or what penalties or remedial actions they may seek. Any determination that our operations or activities are not in compliance with existing laws or regulations, including applicable foreign laws, could result in the imposition of fines, penalties, disgorgement, equitable relief, or other losses.

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RESTRUCTURING AND OTHER ACTIVITIES - NET

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER ACTIVITIES - NET

RESTRUCTURING AND OTHER ACTIVITIES – NET

Restructuring activities are essential to optimize the business operating model for GE HealthCare and mostly involve workforce reductions, organizational realignments, and revisions to our real estate footprint. Specifically, restructuring and other charges (gains) primarily include facility exit costs, employee-related termination benefits associated with workforce reductions, asset write-downs, and cease-use costs. For segment reporting, restructuring and other activities are not allocated.

Net expenses for restructuring initiatives committed to by management through June 30, 2024 are included in the table below.

Restructuring and Other Activities	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Employee termination costs	$	17	$	15	$	42	$	25
Facility and other exit costs	5		—		13		1
Asset write-downs	6		4		13		5
Total restructuring and other activities – net	$	29	$	19	$	68	$	31

These restructuring initiatives are expected to result in additional expenses of approximately $16 million, to be incurred primarily over the next 12 months, substantially related to employee-related termination benefits and asset write-downs. Restructuring expenses (gains) are recognized within Cost of products, Cost of services, or SG&A, as appropriate, in the Condensed Consolidated Statements of Income.

Liabilities related to restructuring are recognized within Current compensation and benefits, All other current liabilities, Non-current compensation and benefits, and All other non-current liabilities in the Condensed Consolidated Statements of Financial Position and totaled $76 million and $68 million as of June 30, 2024 and December 31, 2023, respectively.

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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

The numerator for both basic and diluted earnings per share (“EPS”) is Net income attributable to GE HealthCare common stockholders. The denominator of basic EPS is the weighted-average number of shares outstanding during the period. The dilutive effect of outstanding stock options, restricted stock units, and performance share units is reflected in the denominator for diluted EPS using the treasury stock method.

Earnings Per Share	For the three months ended June 30				For the six months ended June 30
(In millions, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income	$	435	$	433	$	823	$	816
Net (income) loss attributable to noncontrolling interests	(7)		(15)		(21)		(26)
Net income attributable to GE HealthCare	428		418		802		790
Deemed preferred stock dividend of redeemable noncontrolling interest	—		—		—		(183)
Net income attributable to GE HealthCare common stockholders	$	428	$	418	$	802	$	607
Denominator:
Basic weighted-average shares outstanding	457		455		456		455
Dilutive effect of common stock equivalents	3		3		3		3
Diluted weighted-average shares outstanding	459		458		459		458
Basic earnings per share	$	0.94	$	0.92	$	1.76	$	1.34
Diluted earnings per share	$	0.93	$	0.91	$	1.75	$	1.33
Antidilutive securities(1)	5		4		4		4

(1) Diluted earnings per share excludes certain shares issuable under share-based compensation plans because the effect would have been antidilutive.

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SUPPLEMENTAL FINANCIAL INFORMATION

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL FINANCIAL INFORMATION

SUPPLEMENTAL FINANCIAL INFORMATION

Cash, Cash Equivalents, and Restricted Cash	As of
	June 30, 2024		December 31, 2023
Cash and cash equivalents	$	1,997	$	2,494
Short-term restricted cash	17		10
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position	2,015		2,504
Long-term restricted cash(1)	3		2
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows	$	2,018	$	2,506

(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Inventories	As of
	June 30, 2024		December 31, 2023
Raw materials	$	934	$	961
Work in process	102		91
Finished goods	987		908
Inventories(1)	$	2,023	$	1,960

(1) Certain inventory items are long-term in nature and therefore have been recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Property, Plant, and Equipment – Net	As of
	June 30, 2024		December 31, 2023
Original cost	$	5,207	$	5,208
Accumulated depreciation	(3,108)		(3,064)
Right-of-use operating lease assets, net of amortization	359		356
Property, plant, and equipment – net	$	2,458	$	2,500

All Other Current and Non-Current Assets	As of
	June 30, 2024		December 31, 2023
Prepaid expenses and deferred costs	$	218	$	147
Financing receivables – net	93		97
Derivative instruments	58		84
Other(1)	68		61
All other current assets	$	437	$	389
Prepaid pension asset	$	742	$	716
Equity method and other investments	340		357
Financing receivables – net	172		178
Long-term receivables – net	153		124
Inventories	149		147
Contract and other deferred assets	177		168
Other(2)	178		191
All other non-current assets	$	1,913	$	1,881

(1) Current Other primarily consists of tax receivables.

(2) Non-current Other primarily consists of indemnity assets associated with separation agreements with GE, capitalized cloud computing software, tax receivables, and derivative instruments.

All Other Current and Non-Current Liabilities	As of
	June 30, 2024		December 31, 2023
Sales allowances and related liabilities	$	211	$	228
Income and indirect tax liabilities including uncertain tax positions	200		260
Product warranties	172		192
Accrued freight and utilities	115		132
Operating lease liabilities	113		110
Derivative instruments(1)	99		128
Interest payable on borrowings	87		87
Environmental and asset retirement obligations	19		21
Other(2)	331		335
All other current liabilities	$	1,348	$	1,493
Contract liabilities	$	685	$	705
Operating lease liabilities	267		273
Environmental and asset retirement obligations	264		265
Income and indirect tax liabilities including uncertain tax positions	194		208
Derivative instruments	108		136
Finance lease obligations	42		38
Sales allowances and related liabilities	23		27
Other(3)	212		225
All other non-current liabilities	$	1,796	$	1,877

(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.

(2) Current Other primarily consists of miscellaneous accrued costs, dividends payable to stockholders, and contingent consideration liabilities.

(3) Non-current Other primarily consists of miscellaneous accrued costs, contingent consideration liabilities, and indemnity liabilities associated with separation agreements with GE.

SUPPLY CHAIN FINANCE PROGRAMS.

The Company participates in voluntary supply chain finance programs which provide participating suppliers the opportunity to sell their GE HealthCare receivables to third parties at the sole discretion of both the suppliers and the third parties. We evaluate supply chain finance programs to ensure the use of a third-party intermediary to settle our trade payables 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. In connection with the supply chain finance programs, payment terms normally range from 30 to 180 days, depending on the underlying supplier agreements.

Included within Accounts payable in the Condensed Consolidated Statements of Financial Position as of June 30, 2024 and December 31, 2023 were $393 million and $365 million, respectively, of confirmed supplier invoices that are outstanding and subject to third-party programs.

REDEEMABLE NONCONTROLLING INTERESTS.

The Company has noncontrolling interests with redemption features. These redemption features, such as put options, could require the Company to purchase the noncontrolling interests upon the occurrence of certain events. All noncontrolling interests with redemption features that are not solely within our control are recognized within the Condensed Consolidated Statements of Financial Position between liabilities and equity. Redeemable noncontrolling interests are initially recorded at the issuance date fair value. Those that are currently redeemable, or probable of becoming redeemable, are subsequently adjusted to the greater of current redemption value or initial carrying value.

The activity attributable to redeemable noncontrolling interests for the six months ended June 30, 2024 and 2023 is presented below.

Redeemable Noncontrolling Interests	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	165	$	230
Net income attributable to redeemable noncontrolling interests	16		21
Redemption value adjustments(1)	—		183
Distributions to and exercise of redeemable noncontrolling interests and other(2)	(4)		(225)
Balance at end of period	$	177	$	209

(1) As of January 3, 2023, certain redeemable noncontrolling interests were probable of becoming redeemable due to the change of control that occurred upon consummation of the Spin-Off. As a result, these redeemable noncontrolling interests were remeasured to their current redemption value. The remeasurement was accounted for as a deemed preferred stock dividend of redeemable noncontrolling interest and recorded as an adjustment to Retained earnings in the Condensed Consolidated Statements of Financial Position.

(2) In the first quarter of 2023, the redeemable noncontrolling interest holder exercised its option redemption provision. The redemption amount of $211 million was paid in the second quarter of 2023.

Other Income (Expense) – Net	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Net financing income and investment income (loss)	$	—	$	—	$	(15)	$	13
Equity method income (loss)	2		5		3		9
Change in fair value of assumed obligations	(9)		(6)		(17)		(19)
Other items, net(1)	7		15		21		19
Total other income (expense) – net	$	1	$	14	$	(8)	$	22

(1) Other items, net primarily consists of lease income and licensing and royalty income for the three and six months ended June 30, 2024, and lease income, gains and losses related to derivatives, and licensing and royalty income for the three and six months ended June 30, 2023.

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RELATED PARTIES AND TRANSITION SERVICES AGREEMENT

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTIES AND TRANSITION SERVICES AGREEMENT

RELATED PARTIES AND TRANSITION SERVICES AGREEMENT

In connection with the Spin-Off, the Company entered into or adopted several agreements that provide a framework for the relationship between the Company and GE, including the Transition Services Agreement (“TSA”). These agreements were structured in anticipation of GE’s transaction to separate the GE Vernova business as described in Note 1, “Organization and Basis of Presentation.” Under these agreements, we incurred $45 million, net, and $84 million, net, for the three months ended June 30, 2024 and 2023, respectively, and $98 million, net, and $192 million, net, for the six months ended June 30, 2024 and 2023, respectively. These amounts represent fees charged from GE and GE Vernova to the Company primarily for information technology, human resources, and research and development and is net of fees charged from the Company to GE and GE Vernova for facilities and other shared services. For more information on these agreements, see Note 19, “Related Parties” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Current amounts due from and to GE under the various agreements are recognized within Due from related parties or Due to related parties, as applicable, in the Condensed Consolidated Statements of Financial Position. Non-current amounts due from GE were $70 million and $81 million, and due to GE were $41 million and $33 million, as of June 30, 2024 and December 31, 2023, respectively. These amounts were recognized within All other non-current assets and All other non-current liabilities, respectively, in the Condensed Consolidated Statements of Financial Position and primarily relate to tax and other indemnities. Following its separation from GE, GE Vernova does not meet the definition of a related party; accordingly, amounts as of June 30, 2024 due to and from GE Vernova in accordance with the TSA are excluded from the Due from related parties and Due to related parties financial statement line items and non-current balances disclosed above.

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SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSEffective July 1, 2024, the Image Guided Therapies subsegment, previously part of the Imaging segment, was realigned to the Ultrasound segment to better match its clinical usage and realize stronger business and customer impact by providing the right image guidance in the right care setting. Following this realignment, the Company continues to have four reportable segments. Beginning with the Form 10-Q filing for the period ending September 30, 2024, any historical segment financial information presented will be recast to conform to the new reportable segments structure.

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Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to GE HealthCare	$ 428	$ 418	$ 802	$ 790

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Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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ORGANIZATION AND BASIS OF PRESENTATION (Policies)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

The condensed consolidated financial statements (the “financial statements”) have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position and operating results have been included. All intercompany balances and transactions within the Company have been eliminated in the financial statements. Operating results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the fiscal year as a whole. The December 31, 2023 period presented on the Condensed Consolidated Statement of Financial Position was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The following tables are presented in millions of U.S. dollars unless otherwise stated. Certain columns and rows throughout this document may not sum due to the use of rounded numbers. Percentages presented are calculated from the underlying whole-dollar amounts.

RECLASSIFICATION

Certain prior year amounts in the financial statements and notes thereto have been reclassified to conform to the current year presentation, which provides additional detail to readers of the financial statements. Amounts related to current compensation and benefit obligations that were previously reported within the All other current liabilities and All other operating activities lines on the Condensed Consolidated Statements of Financial Position and Statements of Cash Flows, respectively, have been reclassified to separate lines on the respective financial statements.

ESTIMATES AND ASSUMPTIONS

ESTIMATES AND ASSUMPTIONS.

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions, which affect the reported amounts and related disclosures in the financial statements. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position, and cash flows.

RECENT ACCOUNTING PRONOUNCEMENTS

RECENT ACCOUNTING PRONOUNCEMENTS.

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires annual and interim disclosures that are expected to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-07.

In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09.

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REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Contract and Other Deferred Assets

Contract and Other Deferred Assets	As of
	June 30, 2024		December 31, 2023
Contract assets	$	611	$	600
Other deferred assets	367		400
Contract and other deferred assets	977		1,000
Non-current contract assets(1)	81		72
Non-current other deferred assets(1)	96		96
Total contract and other deferred assets	$	1,155	$	1,168

(1)Non-current contract and other deferred assets are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Total Revenues by Segment	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Imaging:
Radiology	$	2,171	$	2,227	$	4,233	$	4,315
Interventional Guidance	425		393		829		801
Total Imaging	2,596		2,620		5,062		5,116
Total Ultrasound	823		839		1,647		1,698
PCS:
Monitoring Solutions	538		563		1,065		1,115
Life Support Solutions	235		207		454		436
Total PCS	772		770		1,519		1,551
Total PDx	639		568		1,238		1,126
Other(1)	9		20		24		33
Total revenues	$	4,839	$	4,817	$	9,489	$	9,524

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HealthCare Financial Services (“HFS”) which does not meet the definition of an operating segment.

Segment EBIT	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Segment EBIT
Imaging	$	286	$	278	$	526	$	469
Ultrasound	178		191		360		398
PCS	78		84		159		193
PDx	200		152		378		307
Other(1)	1		6		1		8
	742		711		1,423		1,375
Restructuring costs	(29)		(19)		(68)		(31)
Acquisition and disposition-related benefits (charges)	3		2		3		1
Gain (loss) on business and asset dispositions	—		—		—		—
Spin-Off and separation costs	(67)		(72)		(126)		(130)
Amortization of acquisition-related intangible assets	(35)		(32)		(66)		(63)
Investment revaluation gain (loss)	(6)		(6)		(26)		(1)
Interest and other financial charges – net	(131)		(137)		(254)		(273)
Non-operating benefit income (costs)	101		123		204		238
Income before income taxes	$	578	$	570	$	1,090	$	1,116

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HFS and certain other business activities which do not meet the definition of an operating segment.

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RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Receivables

Current Receivables	As of
	June 30, 2024		December 31, 2023
Current customer receivables(1)	$	3,174	$	3,339
Non-income based tax receivables	143		166
Other sundry receivables	129		118
Current sundry receivables	272		284
Allowance for credit losses	(103)		(98)
Total current receivables – net	$	3,343	$	3,525

(1) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $126 million and $144 million as of June 30, 2024 and December 31, 2023, respectively.

Long-Term Receivables	As of
	June 30, 2024		December 31, 2023
Long-term customer receivables	$	63	$	55
Non-income based tax receivables	23		26
Other sundry receivables	97		73
Long-term sundry receivables	120		99
Allowance for credit losses	(30)		(30)
Total long-term receivables – net(1)	$	153	$	124

(1) Long-term receivables are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

	As of
	June 30, 2024		December 31, 2023
Loans receivable, at amortized cost	$	26	$	29
Investment in financing leases, net of deferred income	70		71
Allowance for credit losses	(3)		(3)
Current financing receivables – net(1)	93		97
Loans receivable, at amortized cost	33		37
Investment in financing leases, net of deferred income	144		146
Allowance for credit losses	(5)		(5)
Non-current financing receivables – net(1)	$	172	$	178

(1) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other non-current assets, respectively, in the Condensed Consolidated Statements of Financial Position.

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FINANCING RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Receivables

Current Receivables	As of
	June 30, 2024		December 31, 2023
Current customer receivables(1)	$	3,174	$	3,339
Non-income based tax receivables	143		166
Other sundry receivables	129		118
Current sundry receivables	272		284
Allowance for credit losses	(103)		(98)
Total current receivables – net	$	3,343	$	3,525

(1) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $126 million and $144 million as of June 30, 2024 and December 31, 2023, respectively.

Long-Term Receivables	As of
	June 30, 2024		December 31, 2023
Long-term customer receivables	$	63	$	55
Non-income based tax receivables	23		26
Other sundry receivables	97		73
Long-term sundry receivables	120		99
Allowance for credit losses	(30)		(30)
Total long-term receivables – net(1)	$	153	$	124

(1) Long-term receivables are recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

	As of
	June 30, 2024		December 31, 2023
Loans receivable, at amortized cost	$	26	$	29
Investment in financing leases, net of deferred income	70		71
Allowance for credit losses	(3)		(3)
Current financing receivables – net(1)	93		97
Loans receivable, at amortized cost	33		37
Investment in financing leases, net of deferred income	144		146
Allowance for credit losses	(5)		(5)
Non-current financing receivables – net(1)	$	172	$	178

(1) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other non-current assets, respectively, in the Condensed Consolidated Statements of Financial Position.

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ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

GOODWILL.

	Balance as of December 31, 2023		Acquisitions		Foreign exchange and other		Balance as of June 30, 2024
Imaging	$	4,431	$	195	$	(7)	$	4,620
Ultrasound	3,933		—		(7)		3,926
PCS	2,038		—		(1)		2,036
PDx	2,534		—		(1)		2,533
Total Goodwill	$	12,936	$	195	$	(15)	$	13,116

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BORROWINGS (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings

Borrowings Composition	As of
	June 30, 2024		December 31, 2023
5.550% senior notes due November 15, 2024	$	1,000	$	1,000
5.600% senior notes due November 15, 2025	1,500		1,500
5.650% senior notes due November 15, 2027	1,750		1,750
5.857% senior notes due March 15, 2030	1,250		1,250
5.905% senior notes due November 22, 2032	1,750		1,750
6.377% senior notes due November 22, 2052	1,000		1,000
Floating rate Term Loan Facility due January 2, 2026	1,000		1,150
Other	47		52
Total principal debt issued	9,297		9,452
Less: Unamortized debt issuance costs and discounts	30		35
Add: Cumulative basis adjustment for fair value hedges	(27)		25
Total borrowings	9,240		9,442
Less: Short-term borrowings(1)	1,007		1,006
Long-term borrowings	$	8,233	$	8,436

(1) Short-term borrowings as of June 30, 2024 and December 31, 2023 includes $1,003 million and $1,002 million, respectively, related to the current portion of our long-term borrowings, net of unamortized debt issuance costs and discounts.

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POSTRETIREMENT BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Components of Net Periodic Expense

Components of Expense (Income)	For the three months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	7	$	9	$	6	$	6	$	2	$	2
Interest cost	227		238		50		53		14		15
Expected return on plan assets	(284)		(293)		(63)		(64)		—		—
Amortization of net loss (gain)	(19)		(35)		5		3		(15)		(16)
Amortization of prior service cost (credit)	2		—		—		(1)		(22)		(22)
Non-operating	$	(74)	$	(90)	$	(8)	$	(10)	$	(23)	$	(23)
Net periodic expense (income)	$	(67)	$	(81)	$	(2)	$	(4)	$	(21)	$	(21)

	For the six months ended June 30
	Principal Pension Plans				Other Pension Plans				OPEB Plans
	2024		2023		2024		2023		2024		2023
Service cost – Operating	$	14	$	17	$	12	$	12	$	4	$	4
Interest cost	454		478		100		105		27		30
Expected return on plan assets	(567)		(586)		(126)		(127)		—		—
Amortization of net loss (gain)	(38)		(66)		10		5		(30)		(32)
Amortization of prior service cost (credit)	4		—		—		(2)		(44)		(44)
Non-operating	$	(147)	$	(174)	$	(16)	$	(20)	$	(47)	$	(46)
Net periodic expense (income)	$	(133)	$	(157)	$	(4)	$	(8)	$	(43)	$	(42)

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive income (loss) (“AOCI”) by component, net of income taxes, were as follows.

	For the three months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2024	$	(1,781)	$	997	$	(2)	$	(787)
Other comprehensive income (loss) before reclassifications – net of taxes of $(6), $—, and $(2)	(30)		(1)		9		(23)
Reclassifications from AOCI – net of taxes(2) of $—, $10, and $—	—		(35)		—		(36)
Other comprehensive income (loss)	(30)		(36)		8		(58)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

	For the three months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2023	$	(1,760)	$	1,865	$	(30)	$	75
Other comprehensive income (loss) before reclassifications – net of taxes of $28, $(11), and $(2)	3		36		5		44
Reclassifications from AOCI – net of taxes(2) of $—, $17, and $(1)	—		(54)		5		(49)
Other comprehensive income (loss)	3		(18)		10		(5)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

	For the six months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2023	$	(1,706)	$	1,033	$	(18)	$	(691)
Other comprehensive income (loss) before reclassifications – net of taxes of $(14), $(1), and $(7)	(106)		1		24		(81)
Reclassifications from AOCI – net of taxes(2) of $—, $22, and $—	—		(73)		—		(73)
Other comprehensive income (loss)	(106)		(71)		24		(154)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)

	For the six months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2022	$	(1,845)	$	(42)	$	9	$	(1,878)
Other comprehensive income (loss) before reclassifications – net of taxes of $17, $(9), and $2	60		23		(8)		75
Reclassifications from AOCI – net of taxes(2) of $—, $33, and $6	—		(106)		(21)		(127)
Other comprehensive income (loss)	60		(83)		(29)		(52)
Spin-Off related adjustments – net of taxes of $—, $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and six months ended June 30, 2024 and 2023 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.”

(2) Reclassifications from AOCI into earnings for Pension and Other Postretirement Plans are recognized within Non-operating benefit (income) costs, while Cash flow hedges are recognized within Cost of products and Cost of services in our Condensed Consolidated Statements of Income.

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Derivative Assets at Fair Value

The following table presents the gross fair values of our outstanding derivative instruments.

Fair Value of Derivatives	June 30, 2024						December 31, 2023
	Gross Notional		Fair Value – Assets		Fair Value – Liabilities		Gross Notional		Fair Value – Assets		Fair Value – Liabilities
Foreign currency forward contracts	$	1,411	$	21	$	13	$	1,356	$	8	$	30
Derivatives accounted for as cash flow hedges	1,411		21		13		1,356		8		30
Cross-currency swaps(1)	2,149		—		148		2,209		—		204
Foreign currency forward and options contracts	1,859		17		12		991		9		11
Derivatives accounted for as net investment hedges	4,008		17		160		3,200		9		215
Interest rate swaps(1)	1,700		—		27		1,000		35		10
Derivatives accounted for as fair value hedges	1,700		—		27		1,000		35		10
Foreign currency forward contracts	4,108		9		8		3,597		19		12
Other derivatives(1)(2)	409		25		1		438		57		2
Derivatives not designated as hedging instruments	4,517		34		9		4,035		76		14
Total derivatives	$	11,636	$	72	$	209	$	9,591	$	128	$	269

(1) Accrued interest was immaterial for the periods presented and is excluded from fair value. These amounts are recognized within All other current assets and All other current liabilities in the Condensed Consolidated Statements of Financial Position.

(2) Other derivatives are comprised of embedded derivatives and derivatives related to equity contracts. As of December 31, 2023, Other derivatives also included commodity contracts.

Schedule of Derivative Liabilities at Fair Value

The following table presents the gross fair values of our outstanding derivative instruments.

Fair Value of Derivatives	June 30, 2024						December 31, 2023
	Gross Notional		Fair Value – Assets		Fair Value – Liabilities		Gross Notional		Fair Value – Assets		Fair Value – Liabilities
Foreign currency forward contracts	$	1,411	$	21	$	13	$	1,356	$	8	$	30
Derivatives accounted for as cash flow hedges	1,411		21		13		1,356		8		30
Cross-currency swaps(1)	2,149		—		148		2,209		—		204
Foreign currency forward and options contracts	1,859		17		12		991		9		11
Derivatives accounted for as net investment hedges	4,008		17		160		3,200		9		215
Interest rate swaps(1)	1,700		—		27		1,000		35		10
Derivatives accounted for as fair value hedges	1,700		—		27		1,000		35		10
Foreign currency forward contracts	4,108		9		8		3,597		19		12
Other derivatives(1)(2)	409		25		1		438		57		2
Derivatives not designated as hedging instruments	4,517		34		9		4,035		76		14
Total derivatives	$	11,636	$	72	$	209	$	9,591	$	128	$	269

(1) Accrued interest was immaterial for the periods presented and is excluded from fair value. These amounts are recognized within All other current assets and All other current liabilities in the Condensed Consolidated Statements of Financial Position.

(2) Other derivatives are comprised of embedded derivatives and derivatives related to equity contracts. As of December 31, 2023, Other derivatives also included commodity contracts.

Schedule of Effect of Derivatives Instruments on Statement of Financial Position and Statement of Income

The following table presents amounts recorded in Long-term borrowings in the Condensed Consolidated Statements of Financial Position related to cumulative basis adjustment for fair value hedges.

	June 30, 2024				December 31, 2023
	Carrying amount		Cumulative basis adjustment included in the carrying amount		Carrying amount		Cumulative basis adjustment included in the carrying amount
Long-term borrowings designated in fair value hedges	$	1,669	$	(27)	$	1,023	$	25

The tables below present the gains (losses) on our derivative financial instruments and hedging activity in the Condensed Consolidated Statements of Income.

Derivative Financial Instruments and Hedging Activity	For the three months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	1	$	—	$	—	$	—	$	—
Effects of cash flow hedges	1		—		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and options contracts	—		—		—		2		—
Effects of net investment hedges(1)	—		—		—		11		—
Interest rate swaps(4)	—		—		—		(21)		—
Debt basis adjustment on Long-term borrowings	—		—		—		14		—
Effects of fair value hedges	—		—		—		(7)		—
Foreign currency forward contracts	5		1		—		—		—
Other derivatives(2)	—		—		1		—		3
Effects of derivatives not designated as hedging instruments	5		1		1		—		3

	For the three months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	(5)	$	(1)	$	—	$	—	$	—
Effects of cash flow hedges	(5)		(1)		—		—		—
Cross-currency swaps	—		—		—		8		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		9		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	3		1		—		—		4
Other derivatives(2)	—		—		18		—		—
Effects of derivatives not designated as hedging instruments	3		1		18		—		4

	For the six months ended June 30, 2024
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	—	$	—	$	—	$	—	$	—
Effects of cash flow hedges	—		—		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and options contracts	—		—		—		4		—
Effects of net investment hedges(1)	—		—		—		21		—
Interest rate swaps(4)	—		—		—		(66)		—
Debt basis adjustment on Long-term borrowings	—		—		—		52		—
Effects of fair value hedges	—		—		—		(13)		—
Foreign currency forward contracts	(7)		(2)		—		—		—
Other derivatives(2)	—		—		5		—		23
Effects of derivatives not designated as hedging instruments	(7)		(2)		5		—		23

	For the six months ended June 30, 2023
	Cost of products		Cost of services		SG&A		Interest and other financial charges – net		Other(3)
Foreign currency forward contracts	$	22	$	5	$	—	$	—	$	—
Effects of cash flow hedges	22		5		—		—		—
Cross-currency swaps	—		—		—		17		—
Foreign currency forward and option contracts	—		—		—		—		—
Effects of net investment hedges(1)	—		—		—		17		—
Interest rate swaps	—		—		—		—		—
Debt basis adjustment on Long-term borrowings	—		—		—		—		—
Effects of fair value hedges	—		—		—		—		—
Foreign currency forward contracts	10		3		—		—		5
Other derivatives(2)	—		—		33		—		—
Effects of derivatives not designated as hedging instruments	10		3		33		—		5

(1) Changes in fair value related to components other than the spot rate are excluded from effectiveness testing for the three and six months ended June 30, 2024 and 2023.

(2) Other derivatives are primarily comprised of embedded derivatives and derivatives related to equity contracts.

(3) Amounts are inclusive of gains (losses) in Other (income) expense – net in the Condensed Consolidated Statements of Income.

(4) Amount includes $(7) million and $(13) million of interest expense on interest rate derivatives for the three and six months ended June 30, 2024, respectively.

Schedule of Derivative Pre-tax Gains (Losses) Recognized in OCI

The table below presents the pre-tax gains (losses) recognized in OCI associated with the Company’s cash flow and net investment hedges.

Pre-tax Gains (Losses) Recognized in OCI Related to Cash Flow and Net Investment Hedges
	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Cash flow hedges	$	11	$	7	$	31	$	(10)
Net investment hedges(1)	27		(36)		59		(71)

(1) Amounts recognized in OCI for excluded components for the periods presented were immaterial.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table represents assets and liabilities that are recorded and measured at fair value on a recurring basis.

Fair Value of Assets and Liabilities Measured on a Recurring Basis
	As of June 30, 2024								As of December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	215	$	—	$	215	$	—	$	200	$	—	$	200
Investment securities	26		—		—		26		31		—		—		31
Derivatives	—		72		—		72		—		128		—		128
Liabilities:
Deferred compensation	237		6		—		243		264		5		—		269
Derivatives	—		209		—		209		—		269		—		269
Contingent consideration	—		—		42		42		—		—		44		44

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COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranties

An analysis of changes in the liability for product warranties follows.

	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	192	$	193
Current-year provisions	96		102
Expenditures	(112)		(105)
Other changes	(4)		—
Balance at end of period	$	172	$	190

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RESTRUCTURING AND OTHER ACTIVITIES - NET (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

Net expenses for restructuring initiatives committed to by management through June 30, 2024 are included in the table below.

Restructuring and Other Activities	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Employee termination costs	$	17	$	15	$	42	$	25
Facility and other exit costs	5		—		13		1
Asset write-downs	6		4		13		5
Total restructuring and other activities – net	$	29	$	19	$	68	$	31

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EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings per Share

Earnings Per Share	For the three months ended June 30				For the six months ended June 30
(In millions, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income	$	435	$	433	$	823	$	816
Net (income) loss attributable to noncontrolling interests	(7)		(15)		(21)		(26)
Net income attributable to GE HealthCare	428		418		802		790
Deemed preferred stock dividend of redeemable noncontrolling interest	—		—		—		(183)
Net income attributable to GE HealthCare common stockholders	$	428	$	418	$	802	$	607
Denominator:
Basic weighted-average shares outstanding	457		455		456		455
Dilutive effect of common stock equivalents	3		3		3		3
Diluted weighted-average shares outstanding	459		458		459		458
Basic earnings per share	$	0.94	$	0.92	$	1.76	$	1.34
Diluted earnings per share	$	0.93	$	0.91	$	1.75	$	1.33
Antidilutive securities(1)	5		4		4		4

(1) Diluted earnings per share excludes certain shares issuable under share-based compensation plans because the effect would have been antidilutive.

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SUPPLEMENTAL FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

Cash, Cash Equivalents, and Restricted Cash	As of
	June 30, 2024		December 31, 2023
Cash and cash equivalents	$	1,997	$	2,494
Short-term restricted cash	17		10
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position	2,015		2,504
Long-term restricted cash(1)	3		2
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows	$	2,018	$	2,506

(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Schedule of Restricted Cash and Cash Equivalents

Cash, Cash Equivalents, and Restricted Cash	As of
	June 30, 2024		December 31, 2023
Cash and cash equivalents	$	1,997	$	2,494
Short-term restricted cash	17		10
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position	2,015		2,504
Long-term restricted cash(1)	3		2
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows	$	2,018	$	2,506

(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Schedule of Inventory

Inventories	As of
	June 30, 2024		December 31, 2023
Raw materials	$	934	$	961
Work in process	102		91
Finished goods	987		908
Inventories(1)	$	2,023	$	1,960

(1) Certain inventory items are long-term in nature and therefore have been recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.

Summary of Property, Plant and Equipment

Property, Plant, and Equipment – Net	As of
	June 30, 2024		December 31, 2023
Original cost	$	5,207	$	5,208
Accumulated depreciation	(3,108)		(3,064)
Right-of-use operating lease assets, net of amortization	359		356
Property, plant, and equipment – net	$	2,458	$	2,500

Schedule of Other Current Assets

All Other Current and Non-Current Assets	As of
	June 30, 2024		December 31, 2023
Prepaid expenses and deferred costs	$	218	$	147
Financing receivables – net	93		97
Derivative instruments	58		84
Other(1)	68		61
All other current assets	$	437	$	389
Prepaid pension asset	$	742	$	716
Equity method and other investments	340		357
Financing receivables – net	172		178
Long-term receivables – net	153		124
Inventories	149		147
Contract and other deferred assets	177		168
Other(2)	178		191
All other non-current assets	$	1,913	$	1,881

(1) Current Other primarily consists of tax receivables.

(2) Non-current Other primarily consists of indemnity assets associated with separation agreements with GE, capitalized cloud computing software, tax receivables, and derivative instruments.

Schedule of Other Noncurrent Assets

All Other Current and Non-Current Assets	As of
	June 30, 2024		December 31, 2023
Prepaid expenses and deferred costs	$	218	$	147
Financing receivables – net	93		97
Derivative instruments	58		84
Other(1)	68		61
All other current assets	$	437	$	389
Prepaid pension asset	$	742	$	716
Equity method and other investments	340		357
Financing receivables – net	172		178
Long-term receivables – net	153		124
Inventories	149		147
Contract and other deferred assets	177		168
Other(2)	178		191
All other non-current assets	$	1,913	$	1,881

(1) Current Other primarily consists of tax receivables.

(2) Non-current Other primarily consists of indemnity assets associated with separation agreements with GE, capitalized cloud computing software, tax receivables, and derivative instruments.

Schedule of Other Current Liabilities

All Other Current and Non-Current Liabilities	As of
	June 30, 2024		December 31, 2023
Sales allowances and related liabilities	$	211	$	228
Income and indirect tax liabilities including uncertain tax positions	200		260
Product warranties	172		192
Accrued freight and utilities	115		132
Operating lease liabilities	113		110
Derivative instruments(1)	99		128
Interest payable on borrowings	87		87
Environmental and asset retirement obligations	19		21
Other(2)	331		335
All other current liabilities	$	1,348	$	1,493
Contract liabilities	$	685	$	705
Operating lease liabilities	267		273
Environmental and asset retirement obligations	264		265
Income and indirect tax liabilities including uncertain tax positions	194		208
Derivative instruments	108		136
Finance lease obligations	42		38
Sales allowances and related liabilities	23		27
Other(3)	212		225
All other non-current liabilities	$	1,796	$	1,877

(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.

(2) Current Other primarily consists of miscellaneous accrued costs, dividends payable to stockholders, and contingent consideration liabilities.

(3) Non-current Other primarily consists of miscellaneous accrued costs, contingent consideration liabilities, and indemnity liabilities associated with separation agreements with GE.

Schedule of Other Noncurrent Liabilities

All Other Current and Non-Current Liabilities	As of
	June 30, 2024		December 31, 2023
Sales allowances and related liabilities	$	211	$	228
Income and indirect tax liabilities including uncertain tax positions	200		260
Product warranties	172		192
Accrued freight and utilities	115		132
Operating lease liabilities	113		110
Derivative instruments(1)	99		128
Interest payable on borrowings	87		87
Environmental and asset retirement obligations	19		21
Other(2)	331		335
All other current liabilities	$	1,348	$	1,493
Contract liabilities	$	685	$	705
Operating lease liabilities	267		273
Environmental and asset retirement obligations	264		265
Income and indirect tax liabilities including uncertain tax positions	194		208
Derivative instruments	108		136
Finance lease obligations	42		38
Sales allowances and related liabilities	23		27
Other(3)	212		225
All other non-current liabilities	$	1,796	$	1,877

(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.

(2) Current Other primarily consists of miscellaneous accrued costs, dividends payable to stockholders, and contingent consideration liabilities.

(3) Non-current Other primarily consists of miscellaneous accrued costs, contingent consideration liabilities, and indemnity liabilities associated with separation agreements with GE.

Schedule of Redeemable Noncontrolling Interest

The activity attributable to redeemable noncontrolling interests for the six months ended June 30, 2024 and 2023 is presented below.

Redeemable Noncontrolling Interests	For the six months ended June 30
	2024		2023
Balance at beginning of period	$	165	$	230
Net income attributable to redeemable noncontrolling interests	16		21
Redemption value adjustments(1)	—		183
Distributions to and exercise of redeemable noncontrolling interests and other(2)	(4)		(225)
Balance at end of period	$	177	$	209

(1) As of January 3, 2023, certain redeemable noncontrolling interests were probable of becoming redeemable due to the change of control that occurred upon consummation of the Spin-Off. As a result, these redeemable noncontrolling interests were remeasured to their current redemption value. The remeasurement was accounted for as a deemed preferred stock dividend of redeemable noncontrolling interest and recorded as an adjustment to Retained earnings in the Condensed Consolidated Statements of Financial Position.

(2) In the first quarter of 2023, the redeemable noncontrolling interest holder exercised its option redemption provision. The redemption amount of $211 million was paid in the second quarter of 2023.

Schedule of Other Income (Expense)

Other Income (Expense) – Net	For the three months ended June 30				For the six months ended June 30
	2024		2023		2024		2023
Net financing income and investment income (loss)	$	—	$	—	$	(15)	$	13
Equity method income (loss)	2		5		3		9
Change in fair value of assumed obligations	(9)		(6)		(17)		(19)
Other items, net(1)	7		15		21		19
Total other income (expense) – net	$	1	$	14	$	(8)	$	22

(1) Other items, net primarily consists of lease income and licensing and royalty income for the three and six months ended June 30, 2024, and lease income, gains and losses related to derivatives, and licensing and royalty income for the three and six months ended June 30, 2023.

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ORGANIZATION AND BASIS OF PRESENTATION (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	6 Months Ended
	Jan. 03, 2023	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2024
Subsidiary, Sale of Stock [Line Items]
Sale of stock, percent of stock distributed	80.10%
Sale of stock, number of shares issued	454,000,000	100
Sale of stock, price per share (in dollars per share)		$ 1.00
Net transfers from GE, including Spin-Off-related adjustments	$ 2,840		$ 6	$ 2,840
GE | GE HealthCare Technologies Inc
Subsidiary, Sale of Stock [Line Items]
Ownership percentage					6.70%

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REVENUE RECOGNITION - Summary of Contract and Other Deferred Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 611	$ 600
Other deferred assets	367	400
Contract and other deferred assets	977	1,000
Non-current contract assets	81	72
Non-current other deferred assets	96	96
Total contract and other deferred assets	$ 1,155	$ 1,168

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REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	$ 2,562		$ 2,623
Contract liabilities	685		$ 705
Increase (decrease) in contract liabilities due to customer advances	(61)
Contract liabilities, revenue recognized	1,116	$ 1,105
Remaining performance obligation, amount	14,531
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 4,648
Product | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	98.00%
Remaining performance obligation, period	2 years
Service
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 9,883
Service | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Period one
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	64.00%
Remaining performance obligation, period	2 years
Service | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Period two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	93.00%
Remaining performance obligation, period	5 years

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SEGMENT INFORMATION- Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	4
Number of reportable segments	4

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SEGMENT INFORMATION - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 4,839	$ 4,817	$ 9,489	$ 9,524
EBIT	742	711	1,423	1,375
Restructuring costs	(29)	(19)	(68)	(31)
Acquisition and disposition-related benefits (charges)	3	2	3	1
Gain (loss) on business and asset dispositions	0	0	0	0
Spin-Off and separation costs	(67)	(72)	(126)	(130)
Amortization of acquisition-related intangible assets	(35)	(32)	(66)	(63)
Investment revaluation gain (loss)	(6)	(6)	(26)	(1)
Interest and other financial charges – net	(131)	(137)	(254)	(273)
Non-operating benefit income (costs)	101	123	204	238
Income before income taxes	578	570	1,090	1,116
Operating segments | Imaging
Segment Reporting Information [Line Items]
Total revenues	2,596	2,620	5,062	5,116
EBIT	286	278	526	469
Operating segments | Imaging | Radiology
Segment Reporting Information [Line Items]
Total revenues	2,171	2,227	4,233	4,315
Operating segments | Imaging | Interventional Guidance
Segment Reporting Information [Line Items]
Total revenues	425	393	829	801
Operating segments | Ultrasound
Segment Reporting Information [Line Items]
Total revenues	823	839	1,647	1,698
EBIT	178	191	360	398
Operating segments | PCS
Segment Reporting Information [Line Items]
Total revenues	772	770	1,519	1,551
EBIT	78	84	159	193
Operating segments | PCS | Monitoring Solutions
Segment Reporting Information [Line Items]
Total revenues	538	563	1,065	1,115
Operating segments | PCS | Life Support Solutions
Segment Reporting Information [Line Items]
Total revenues	235	207	454	436
Operating segments | PDx
Segment Reporting Information [Line Items]
Total revenues	639	568	1,238	1,126
EBIT	200	152	378	307
Other
Segment Reporting Information [Line Items]
Total revenues	9	20	24	33
EBIT	$ 1	$ 6	$ 1	$ 8

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RECEIVABLES - Current Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (103)	$ (98)
Chargebacks	126	144
Nonrelated party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current customer receivables	3,174	3,339
Non-income based tax receivables	143	166
Other sundry receivables	129	118
Current sundry receivables	272	284
Allowance for credit losses	(103)	(98)
Total current receivables – net	$ 3,343	$ 3,525

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RECEIVABLES - Long-Term Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Long-term customer receivables	$ 63	$ 55
Non-income based tax receivables	23	26
Other sundry receivables	97	73
Long-term sundry receivables	120	99
Allowance for credit losses	(30)	(30)
Total long-term receivables – net	$ 153	$ 124

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FINANCING RECEIVABLES - Schedule of Financing Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses, current	$ (3)	$ (3)
Current financing receivables, net	93	97
Allowance for credit losses, noncurrent	(5)	(5)
Non-current financing receivables, net	172	178
Loans receivable, at amortized cost
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current financing receivables, gross	26	29
Non-current financing receivables, gross	33	37
Investment in financing leases, net of deferred income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current financing receivables, gross	70	71
Non-current financing receivables, gross	$ 144	$ 146

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FINANCING RECEIVABLES - Narrative (Details)	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Financing receivable, nonaccrual, percent past due	4.00%	6.00%
Over 30 days past due
Financing Receivable, Past Due [Line Items]
Financing receivable, percent past due	4.00%	5.00%
Over 90 days past due
Financing Receivable, Past Due [Line Items]
Financing receivable, percent past due	4.00%	5.00%

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LEASES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Leases [Abstract]
Operating lease liability	$ 380		$ 380		$ 383
Operating lease cost	$ 59	$ 57	$ 119	$ 113

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ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
	Apr. 01, 2024	Feb. 17, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired					$ 259	$ 147
Goodwill			$ 13,116		13,116		$ 12,936
Amortization of acquisition-related intangible assets			$ 81	$ 93	$ 160	$ 189
MIM Software
Business Acquisition [Line Items]
Percent of interest acquired	100.00%
Consideration transferred, net of cash acquired	$ 259
Goodwill	195
Deferred tax liabilities	19
Other net assets	7
MIM Software | Customer-related intangible assets
Business Acquisition [Line Items]
Intangible assets	52
MIM Software | Developed technology intangible assets
Business Acquisition [Line Items]
Intangible assets	48
MIM Software | Purchase price
Business Acquisition [Line Items]
Contingent consideration	13
MIM Software | Service requirements
Business Acquisition [Line Items]
Contingent consideration	$ 23
Caption Health
Business Acquisition [Line Items]
Percent of interest acquired		100.00%
Consideration transferred, net of cash acquired		$ 127
Contingent consideration		13
Goodwill		94
Intangible assets		60
Deferred tax liabilities		3
Consideration transferred, holdback payment		$ 10

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ACQUISITIONS, GOODWILL, AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 12,936
Acquisitions	195
Foreign exchange and other	(15)
Ending balance	13,116
Imaging
Goodwill [Roll Forward]
Beginning balance	4,431
Acquisitions	195
Foreign exchange and other	(7)
Ending balance	4,620
Ultrasound
Goodwill [Roll Forward]
Beginning balance	3,933
Acquisitions	0
Foreign exchange and other	(7)
Ending balance	3,926
PCS
Goodwill [Roll Forward]
Beginning balance	2,038
Acquisitions	0
Foreign exchange and other	(1)
Ending balance	2,036
PDx
Goodwill [Roll Forward]
Beginning balance	2,534
Acquisitions	0
Foreign exchange and other	(1)
Ending balance	$ 2,533

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BORROWINGS - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) series	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Guarantor obligations, maximum exposure		$ 114,000,000
Guarantee obligation, carrying value	$ 4,000,000	4,000,000
Commercial contracts
Debt Instrument [Line Items]
Guarantor obligations, maximum exposure	812,000,000	751,000,000
Equipment residual value obligation
Debt Instrument [Line Items]
Guarantor obligations, maximum exposure	28,000,000	39,000,000
Senior notes | Senior unsecured notes
Debt Instrument [Line Items]
Debt, principal amount	$ 8,250,000,000
Number of debt series | series	6
Debt repayments	$ 0
Line of credit | Floating rate Term Loan Facility due January 2, 2026
Debt Instrument [Line Items]
Total amount of debt repaid	1,000,000,000
Debt repayments	150,000,000
Line of credit | Revolving credit facility
Debt Instrument [Line Items]
Line of credit outstanding	$ 0	$ 0
Line of credit | Revolving credit facility | 5-Year Revolving Credit Facility
Debt Instrument [Line Items]
Debt, term	5 years
Maximum borrowing capacity	$ 2,500,000,000
Line of credit | Revolving credit facility | 364-Day Revolving Credit Facility
Debt Instrument [Line Items]
Debt, term	364 days
Maximum borrowing capacity	$ 1,000,000,000
Line of credit | Unsecured debt | Floating rate Term Loan Facility due January 2, 2026
Debt Instrument [Line Items]
Debt, term	3 years
Maximum borrowing capacity	$ 2,000,000,000

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BORROWINGS - Schedule of Long-Term Borrowings (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal debt issued	$ 9,297	$ 9,452
Less: Unamortized debt issuance costs and discounts	30	35
Add: Cumulative basis adjustment for fair value hedges	(27)	25
Total borrowings	9,240	9,442
Less: Short-term borrowings	1,007	1,006
Long-term borrowings	8,233	8,436
Long-term borrowings, current	$ 1,003	1,002
Senior notes | 5.550% senior notes due November 15, 2024
Debt Instrument [Line Items]
Stated interest rate	5.55%
Principal debt issued	$ 1,000	1,000
Senior notes | 5.600% senior notes due November 15, 2025
Debt Instrument [Line Items]
Stated interest rate	5.60%
Principal debt issued	$ 1,500	1,500
Senior notes | 5.650% senior notes due November 15, 2027
Debt Instrument [Line Items]
Stated interest rate	5.65%
Principal debt issued	$ 1,750	1,750
Senior notes | 5.857% senior notes due March 15, 2030
Debt Instrument [Line Items]
Stated interest rate	5.857%
Principal debt issued	$ 1,250	1,250
Senior notes | 5.905% senior notes due November 22, 2032
Debt Instrument [Line Items]
Stated interest rate	5.905%
Principal debt issued	$ 1,750	1,750
Senior notes | 6.377% senior notes due November 22, 2052
Debt Instrument [Line Items]
Stated interest rate	6.377%
Principal debt issued	$ 1,000	1,000
Line of credit | Floating rate Term Loan Facility due January 2, 2026
Debt Instrument [Line Items]
Principal debt issued	1,000	1,150
Other
Debt Instrument [Line Items]
Principal debt issued	$ 47	$ 52

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POSTRETIREMENT BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Plan asset or obligation reporting threshold			$ 50
Defined benefit plan, expected future employer contributions, next fiscal year	$ 336		336
Defined contribution plan, employer contribution amount	$ 40	$ 33	73	$ 66
OPEB Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contribution amount			71
GE HealthCare Supplemental Pension Plan | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contribution amount			59
Other Pension Plans | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contribution amount			$ 40

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POSTRETIREMENT BENEFIT PLANS - Components of Expense (Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Non-operating	$ (101)	$ (123)	$ (204)	$ (238)
Pension Plans | Principal Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost – Operating	7	9	14	17
Interest cost	227	238	454	478
Expected return on plan assets	(284)	(293)	(567)	(586)
Amortization of net loss (gain)	(19)	(35)	(38)	(66)
Amortization of prior service cost (credit)	2	0	4	0
Non-operating	(74)	(90)	(147)	(174)
Net periodic expense (income)	(67)	(81)	(133)	(157)
Pension Plans | Other Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost – Operating	6	6	12	12
Interest cost	50	53	100	105
Expected return on plan assets	(63)	(64)	(126)	(127)
Amortization of net loss (gain)	5	3	10	5
Amortization of prior service cost (credit)	0	(1)	0	(2)
Non-operating	(8)	(10)	(16)	(20)
Net periodic expense (income)	(2)	(4)	(4)	(8)
OPEB Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost – Operating	2	2	4	4
Interest cost	14	15	27	30
Expected return on plan assets	0	0	0	0
Amortization of net loss (gain)	(15)	(16)	(30)	(32)
Amortization of prior service cost (credit)	(22)	(22)	(44)	(44)
Non-operating	(23)	(23)	(47)	(46)
Net periodic expense (income)	$ (21)	$ (21)	$ (43)	$ (42)

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INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	24.70%	24.00%	24.50%	26.90%
Deferred tax liabilities, undistributed foreign earnings					$ 30

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity, beginning balance	$ 7,423	$ 6,696	$ 7,145	$ 9,362
Other comprehensive income (loss) before reclassifications – net of taxes	(23)	44	(81)	75
Reclassifications from AOCI – net of taxes	(36)	(49)	(73)	(127)
Other comprehensive income (loss)	(58)	(5)	(154)	(52)
Spin-Off related adjustments – net of taxes				2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Equity, ending balance	7,817	7,114	7,817	7,114
Accumulated other comprehensive income (loss) – net
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity, beginning balance	(787)	75	(691)	(1,878)
Equity, ending balance	(845)	70	(845)	70
Currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity, beginning balance	(1,781)	(1,760)	(1,706)	(1,845)
Other comprehensive income (loss) before reclassifications – net of taxes	(30)	3	(106)	60
Reclassifications from AOCI – net of taxes	0	0	0	0
Other comprehensive income (loss)	(30)	3	(106)	60
Spin-Off related adjustments – net of taxes				28
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Equity, ending balance	(1,812)	(1,757)	(1,812)	(1,757)
Other comprehensive income (loss) before reclass, tax	(6)	28	(14)	17
Reclass from AOCI, tax	0	0	0	0
Spin-Off related adjustments, tax				0
Pension and Other Postretirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity, beginning balance	997	1,865	1,033	(42)
Other comprehensive income (loss) before reclassifications – net of taxes	(1)	36	1	23
Reclassifications from AOCI – net of taxes	(35)	(54)	(73)	(106)
Other comprehensive income (loss)	(36)	(18)	(71)	(83)
Spin-Off related adjustments – net of taxes				1,972
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Equity, ending balance	961	1,847	961	1,847
Other comprehensive income (loss) before reclass, tax	0	(11)	(1)	(9)
Reclass from AOCI, tax	10	17	22	33
Spin-Off related adjustments, tax				(509)
Cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity, beginning balance	(2)	(30)	(18)	9
Other comprehensive income (loss) before reclassifications – net of taxes	9	5	24	(8)
Reclassifications from AOCI – net of taxes	0	5	0	(21)
Other comprehensive income (loss)	8	10	24	(29)
Spin-Off related adjustments – net of taxes				0
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Equity, ending balance	6	(20)	6	(20)
Other comprehensive income (loss) before reclass, tax	(2)	(2)	(7)	2
Reclass from AOCI, tax	$ 0	$ (1)	$ 0	6
Spin-Off related adjustments, tax				$ 0

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Cash flow hedge gains to be reclassified within 12 months	$ 7
Derivative, potential effect of rights of offset to assets and liabilities	41	$ 41
Cash, cash equivalents, and restricted cash	2,015	2,504
Money market funds | Recurring
Derivative [Line Items]
Cash, cash equivalents, and restricted cash	215	200
Other cash equivalents | Recurring
Derivative [Line Items]
Cash, cash equivalents, and restricted cash	695	1,023
Estimated fair value
Derivative [Line Items]
Borrowings	9,609	9,959
Carrying value
Derivative [Line Items]
Borrowings	$ 9,240	$ 9,442

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Derivative Fair Values (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Gross Notional	$ 11,636	$ 9,591
Fair Value – Assets	72	128
Fair Value – Liabilities	209	269
Designated as hedging instrument | Cash flow hedges
Derivative [Line Items]
Gross Notional	1,411	1,356
Fair Value – Assets	21	8
Fair Value – Liabilities	13	30
Designated as hedging instrument | Cash flow hedges | Foreign currency forward contracts
Derivative [Line Items]
Gross Notional	1,411	1,356
Fair Value – Assets	21	8
Fair Value – Liabilities	13	30
Designated as hedging instrument | Net investment hedges
Derivative [Line Items]
Gross Notional	4,008	3,200
Fair Value – Assets	17	9
Fair Value – Liabilities	160	215
Designated as hedging instrument | Net investment hedges | Cross-currency swaps
Derivative [Line Items]
Gross Notional	2,149	2,209
Fair Value – Assets	0	0
Fair Value – Liabilities	148	204
Designated as hedging instrument | Net investment hedges | Foreign currency forward and options contracts
Derivative [Line Items]
Gross Notional	1,859	991
Fair Value – Assets	17	9
Fair Value – Liabilities	12	11
Designated as hedging instrument | Fair value hedges
Derivative [Line Items]
Gross Notional	1,700	1,000
Fair Value – Assets	0	35
Fair Value – Liabilities	27	10
Designated as hedging instrument | Fair value hedges | Interest rate swaps
Derivative [Line Items]
Gross Notional	1,700	1,000
Fair Value – Assets	0	35
Fair Value – Liabilities	27	10
Not designated as hedging instrument
Derivative [Line Items]
Gross Notional	4,517	4,035
Fair Value – Assets	34	76
Fair Value – Liabilities	9	14
Not designated as hedging instrument | Foreign currency forward contracts
Derivative [Line Items]
Gross Notional	4,108	3,597
Fair Value – Assets	9	19
Fair Value – Liabilities	8	12
Not designated as hedging instrument | Other derivatives
Derivative [Line Items]
Gross Notional	409	438
Fair Value – Assets	25	57
Fair Value – Liabilities	$ 1	$ 2

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Cumulative Basis Adjustment for Fair value Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Long-term borrowings designated in fair value hedges	$ 1,669	$ 1,023
Hedged Liability, Statement of Financial Position [Extensible Enumeration]	Long-term borrowings	Long-term borrowings
Cumulative basis adjustment included in the carrying amount	$ (27)	$ 25

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Derivative Pre-tax Gains (Losses) Recognized in OCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Cash flow hedges	$ 11	$ 7	$ 31	$ (10)
Net investment hedges	$ 27	$ (36)	$ 59	$ (71)

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Effect of Derivatives Instruments on Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
SG&A
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	$ 0	$ 0	$ 0	$ 0
Effects of net investment hedges	0	0	0	0
Effects of fair value hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	1	18	5	33
SG&A | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	0	0	0	0
SG&A | Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
SG&A | Foreign currency forward and options contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
SG&A | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
SG&A | Debt basis adjustment on Long-term borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
SG&A | Other derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Effects of derivatives not designated as hedging instruments	1	18	5	33
Interest and other financial charges – net
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	0	0	0
Effects of net investment hedges	11	9	21	17
Effects of fair value hedges	(7)	0	(13)	0
Effects of derivatives not designated as hedging instruments	0	0	0	0
Interest and other financial charges – net | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	0	0	0	0
Interest and other financial charges – net | Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	8	8	17	17
Interest and other financial charges – net | Foreign currency forward and options contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	2	0	4	0
Interest and other financial charges – net | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	(21)	0	(66)	0
Interest and other financial charges – net | Debt basis adjustment on Long-term borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	14	0	52	0
Interest and other financial charges – net | Other derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Effects of derivatives not designated as hedging instruments	0	0	0	0
Interest expense | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	(7)		(13)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	0	0	0
Effects of net investment hedges	0	0	0	0
Effects of fair value hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	3	4	23	5
Other | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	0	4	0	5
Other | Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Other | Foreign currency forward and options contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Other | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Other | Debt basis adjustment on Long-term borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Other | Other derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Effects of derivatives not designated as hedging instruments	3	0	23	0
Product | Cost of revenue
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	1	(5)	0	22
Effects of net investment hedges	0	0	0	0
Effects of fair value hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	5	3	(7)	10
Product | Cost of revenue | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	1	(5)	0	22
Effects of derivatives not designated as hedging instruments	5	3	(7)	10
Product | Cost of revenue | Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Product | Cost of revenue | Foreign currency forward and options contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Product | Cost of revenue | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Product | Cost of revenue | Debt basis adjustment on Long-term borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Product | Cost of revenue | Other derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Effects of derivatives not designated as hedging instruments	0	0	0	0
Service | Cost of revenue
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	(1)	0	5
Effects of net investment hedges	0	0	0	0
Effects of fair value hedges	0	0	0	0
Effects of derivatives not designated as hedging instruments	1	1	(2)	3
Service | Cost of revenue | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of cash flow hedges	0	(1)	0	5
Effects of derivatives not designated as hedging instruments	1	1	(2)	3
Service | Cost of revenue | Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Service | Cost of revenue | Foreign currency forward and options contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effects of net investment hedges	0	0	0	0
Service | Cost of revenue | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Service | Cost of revenue | Debt basis adjustment on Long-term borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Effects of fair value hedges	0	0	0	0
Service | Cost of revenue | Other derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Effects of derivatives not designated as hedging instruments	$ 0	$ 0	$ 0	$ 0

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Assets:
Cash, cash equivalents, and restricted cash	$ 2,015	$ 2,504
Recurring
Assets:
Investment securities	26	31
Derivatives	72	128
Liabilities:
Deferred compensation	243	269
Derivatives	209	269
Contingent consideration	42	44
Recurring | Money market funds
Assets:
Cash, cash equivalents, and restricted cash	215	200
Level 1 | Recurring
Assets:
Investment securities	26	31
Derivatives	0	0
Liabilities:
Deferred compensation	237	264
Derivatives	0	0
Contingent consideration	0	0
Level 1 | Recurring | Money market funds
Assets:
Cash, cash equivalents, and restricted cash	0	0
Level 2 | Recurring
Assets:
Investment securities	0	0
Derivatives	72	128
Liabilities:
Deferred compensation	6	5
Derivatives	209	269
Contingent consideration	0	0
Level 2 | Recurring | Money market funds
Assets:
Cash, cash equivalents, and restricted cash	215	200
Level 3 | Recurring
Assets:
Investment securities	0	0
Derivatives	0	0
Liabilities:
Deferred compensation	0	0
Derivatives	0	0
Contingent consideration	42	44
Level 3 | Recurring | Money market funds
Assets:
Cash, cash equivalents, and restricted cash	$ 0	$ 0

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COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantor obligations, maximum exposure	$ 114

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COMMITMENTS, GUARANTEES, PRODUCT WARRANTIES, AND OTHER LOSS CONTINGENCIES - Schedule of Product Warranties (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 192	$ 193
Current-year provisions	96	102
Expenditures	(112)	(105)
Other changes	(4)	0
Balance at end of period	$ 172	$ 190

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RESTRUCTURING AND OTHER ACTIVITIES - NET - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Employee termination costs	$ 17	$ 15	$ 42	$ 25
Facility and other exit costs	5	0	13	1
Asset write-downs	6	4	13	5
Total restructuring and other activities – net	$ 29	$ 19	$ 68	$ 31

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RESTRUCTURING AND OTHER ACTIVITIES - NET - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Expected restructuring expense remaining	$ 16
Restructuring liabilities	$ 76	$ 68

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EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income	$ 435	$ 433	$ 823	$ 816
Net (income) loss attributable to noncontrolling interests	(7)	(15)	(21)	(26)
Net income attributable to GE HealthCare	428	418	802	790
Deemed preferred stock dividend of redeemable noncontrolling interest	0	0	0	(183)
Net income attributable to GE HealthCare common stockholders	$ 428	$ 418	$ 802	$ 607
Denominator:
Basic weighted-average shares outstanding	457	455	456	455
Dilutive effect of common stock equivalents (in shares)	3	3	3	3
Diluted weighted-average shares outstanding	459	458	459	458
Basic earnings per share (in dollars per share)	$ 0.94	$ 0.92	$ 1.76	$ 1.34
Diluted earnings per share (in dollars per share)	$ 0.93	$ 0.91	$ 1.75	$ 1.33
Antidilutive securities (in shares)	5	4	4	4

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,997	$ 2,494
Short-term restricted cash	17	10
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position	2,015	2,504
Long-term restricted cash	3	2
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows	$ 2,018	$ 2,506	$ 1,945	$ 1,451

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 934	$ 961
Work in process	102	91
Finished goods	987	908
Inventories	$ 2,023	$ 1,960

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SUPPLEMENTAL FINANCIAL INFORMATION - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Original cost	$ 5,207	$ 5,208
Accumulated depreciation	(3,108)	(3,064)
Right-of-use operating lease assets, net of amortization	359	356
Property, plant, and equipment – net	$ 2,458	$ 2,500

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of All Other Current and Noncurrent Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses and deferred costs	$ 218	$ 147
Financing receivables – net	93	97
Derivative instruments	58	84
Other	68	61
All other current assets	437	389
Prepaid pension asset	742	716
Equity method and other investments	340	357
Financing receivables – net	172	178
Long-term receivables – net	153	124
Inventories	149	147
Contract and other deferred assets	177	168
Other	178	191
All other non-current assets	$ 1,913	$ 1,881

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of All Other Current and Noncurrent Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Sales allowances and related liabilities	$ 211	$ 228
Income and indirect tax liabilities including uncertain tax positions	200	260
Product warranties	172	192
Accrued freight and utilities	115	132
Operating lease liabilities	113	110
Derivative instruments	99	128
Interest payable on borrowings	87	87
Environmental and asset retirement obligations	19	21
Other	331	335
Contract liabilities	685	705
Operating lease liabilities	267	273
Environmental and asset retirement obligations	264	265
Income and indirect tax liabilities including uncertain tax positions	194	208
Derivative instruments	108	136
Finance lease obligations	$ 42	$ 38
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	All other non-current liabilities	All other non-current liabilities
Sales allowances and related liabilities	$ 23	$ 27
Other	212	225
All other non-current liabilities	1,796	1,877
Nonrelated party
Related Party Transaction [Line Items]
All other current liabilities	$ 1,348	$ 1,493

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SUPPLEMENTAL FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Supplier finance program obligation	$ 393	$ 365
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable
Minimum
Supplier Finance Program [Line Items]
Supplier finance program, payment terms	30 days
Maximum
Supplier Finance Program [Line Items]
Supplier finance program, payment terms	180 days

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period		$ 165	$ 230
Net income attributable to redeemable noncontrolling interests		16	21
Redemption value adjustments		0	183
Distributions to and exercise of redeemable noncontrolling interests and other		(4)	(225)
Balance at end of period	$ 209	177	209
Redemption of noncontrolling interests	$ 211	$ 0	$ 211

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SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net financing income and investment income (loss)	$ 0	$ 0	$ (15)	$ 13
Equity method income (loss)	2	5	3	9
Change in fair value of assumed obligations	(9)	(6)	(17)	(19)
Other items, net	7	15	21	19
Total other income (expense) – net	$ 1	$ 14	$ (8)	$ 22

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RELATED PARTIES AND TRANSITION SERVICES AGREEMENT (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
All other non-current assets	$ 1,913		$ 1,913		$ 1,881
All other non-current liabilities	1,796		1,796		1,877
Related party
Related Party Transaction [Line Items]
All other non-current assets	70		70		81
All other non-current liabilities	41		41		$ 33
TSA | Related party
Related Party Transaction [Line Items]
Transaction amount	$ 45	$ 84	$ 98	$ 192

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SUBSEQUENT EVENTS (Details) - segment		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2024
Subsequent Event [Line Items]
Number of reportable segments		4
Number of operating segments		4
Subsequent event
Subsequent Event [Line Items]
Number of reportable segments	4
Number of operating segments	4