GE Announces $4 Billion of Actions to Further Solidify Financial Position
Summary
With line of sight to at least $2.5 billion of Industrial free cash flow in the fourth quarter and positive free cash flow in 2021, these steps further reduce debt, de-risk our balance sheet, and put us on stronger financial footing to accelerate GE’s transformation. We remain committed to maintaining elevated liquidity amid an uncertain environment and achieving our leverage goals over time.” These actions reduced GE’s pension deficit by $2.5 billion and reduced the intercompany balance, further simplifying GE. GE had previously announced it would pre-fund approximately $4-5 billion in 2020 to meet its minimum ERISA pension funding requirements through at least 2022. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics.