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SEGMENT INFORMATION & REMAINING PERFORMANCE OBLIGATION | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
SEGMENT INFORMATION & REMAINING PERFORMANCE OBLIGATION | SEGMENT INFORMATION & REMAINING PERFORMANCE OBLIGATION. We have two reportable segments and three operating segments. Operating segments are aggregated into a reportable segment if the operating segments have similar quantitative economic characteristics and if the operating segments are similar in the following qualitative characteristics: (i) nature of products and services; (ii) nature of production processes; (iii) type or class of customer for their products and services; (iv) methods used to distribute the products or provide services; and (v) if applicable, the nature of the regulatory environment. We have aggregated Defense & Systems and Propulsion & Additive Technology into one reportable segment, Defense & Propulsion Technologies, based on similarity in economic characteristics, other qualitative factors and the objectives and principles of ASC 280, Segment Reporting. This is consistent with how our chief operating decision maker (CODM) allocates resources and makes decisions. Refer to our Annual Report on Form 10-K for the year ended December 31, 2025, for a description of our segments, further information regarding our determination of segment profit for continuing operations and our allocations of corporate costs to our segments. On January 15, 2026, we announced that our CES segment will expand to include the entire commercial engine lifecycle, including safety and quality, product management, engineering, supply chain, manufacturing and aftermarket services. In addition, our Aeroderivative business, previously reported in CES, has moved to our DPT segment. We have recast previously reported amounts to conform to the updated segment presentation. The Company does not report total assets by segment for internal or external reporting purposes as the Company’s CODM does not assess performance, make strategic decisions, or allocate resources based on assets.
EQUIPMENT & SERVICES REVENUE |
Three months ended June 30 | 2026 |  | 2025
| Equipment | Services | Total |  | Equipment | Services | Total
Commercial Engines & Services | $ | 2,297 |  | $ | 7,434 |  | $ | 9,731 |  |  | $ | 1,765 |  | $ | 5,881 |  | $ | 7,646 |
Defense & Propulsion Technologies | 1,744 |  | 1,699 |  | 3,443 |  |  | 1,469 |  | 1,509 |  | 2,978 |
Total segment revenue | $ | 4,041 |  | $ | 9,133 |  | $ | 13,174 |  |  | $ | 3,234 |  | $ | 7,390 |  | $ | 10,624 |
Six months ended June 30 | 2026 |  | 2025
| Equipment | Services | Total |  | Equipment | Services | Total
Commercial Engines & Services | $ | 4,399 |  | $ | 14,251 |  | $ | 18,650 |  |  | $ | 3,514 |  | $ | 10,796 |  | $ | 14,309 |
Defense & Propulsion Technologies | 3,350 |  | 3,307 |  | 6,657 |  |  | 2,692 |  | 2,984 |  | 5,676 |
Total segment revenue | $ | 7,749 |  | $ | 17,558 |  | $ | 25,307 |  |  | $ | 6,206 |  | $ | 13,780 |  | $ | 19,986 |
EXPENSES, PROFIT AND INCOME | Three months ended June 30 |  | Six months ended June 30 |
| 2026 | 2025 |  | 2026 | 2025 |
Commercial Engines & Services |  |  |  |  |  |
Cost of revenue | $ | 6,398 |  | $ | 4,925 |  |  | $ | 12,288 |  | $ | 9,140 |  |
Selling, general and administrative expenses | 507 |  | 423 |  |  | 1,004 |  | 832 |  |
Research and development | 386 |  | 297 |  |  | 735 |  | 583 |  |
Other segment expenses (income)(a) | (218) |  | (207) |  |  | (389) |  | (363) |  |
Total Commercial Engines & Services expenses | 7,074 |  | 5,438 |  |  | 13,638 |  | 10,192 |  |
Defense & Propulsion Technologies |  |  |  |  |  |
Cost of revenue | 2,580 |  | 2,244 |  |  | 5,018 |  | 4,296 |  |
Selling, general and administrative expenses | 307 |  | 271 |  |  | 626 |  | 530 |  |
Research and development | 88 |  | 72 |  |  | 174 |  | 144 |  |
Other segment expenses (income)(a) | (6) |  | (12) |  |  | (15) |  | (23) |  |
Total Defense & Propulsion Technologies expenses | 2,968 |  | 2,575 |  |  | 5,802 |  | 4,948 |  |
Commercial Engines & Services | 2,657 |  | 2,208 |  |  | 5,012 |  | 4,118 |  |
Defense & Propulsion Technologies | 475 |  | 403 |  |  | 855 |  | 729 |  |
Total segment profit (loss) | 3,132 |  | 2,611 |  |  | 5,867 |  | 4,846 |  |
Corporate & Other | (280) |  | (254) |  |  | (780) |  | (230) |  |
Interest and other financial charges | (215) |  | (158) |  |  | (444) |  | (368) |  |
Non-operating benefit income (cost) | 177 |  | 197 |  |  | 354 |  | 398 |  |
Benefit (provision) for income taxes | (407) |  | (388) |  |  | (658) |  | (671) |  |
Net income (loss) from continuing operations attributable to common shareholders | 2,408 |  | 2,008 |  |  | 4,338 |  | 3,975 |  |
Net income (loss) from discontinued operations attributable to common shareholders | (38) |  | 21 |  |  | (65) |  | 31 |  |
Net income (loss) attributable to common shareholders | $ | 2,370 |  | $ | 2,028 |  |  | $ | 4,273 |  | $ | 4,006 |  |
(a) Other segment expenses (income) primarily includes equity method income, interest income and licensing and royalty income. REMAINING PERFORMANCE OBLIGATION. As of June 30, 2026, the aggregate amount of the contracted revenue allocated to our unsatisfied (or partially unsatisfied) performance obligations was $210,790 million. We expect to recognize revenue as we satisfy our remaining performance obligations as follows: (1) equipment-related remaining performance obligation of $32,085 million, of which 32%, 54% and 91% is expected to be satisfied within 1, 2 and 5 years, respectively; and (2) services-related remaining performance obligation of $178,705 million, of which 12%, 40%, 66% and 82% is expected to be recognized within 1, 5, 10 and 15 years, respectively, and the remaining thereafter.

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