GE · 10-Q · 2026Q2 · Full report

Interest Rate and Refinancing Exposure

GENERAL ELECTRIC CO · 2026-07-16 · Importance 61 · Surprise 32

Substantially all non‑current investment securities ($37,910 million estimated fair value at June 30, 2026) are held within the Company's run‑off insurance operations and support long‑duration insurance liabilities. Total estimated fair value of debt securities in an unrealized loss position was $20,078 million at June 30, 2026 (versus $18,484 million at December 31, 2025), with gross unrealized losses of $(2,604) million and aggregate gross unrealized losses reported of $(2,766) million on non‑current investment securities. The decrease in fair value since December 31, 2025 is attributed primarily to higher market yields and mark‑to‑market effects; the Company states these unrealized losses are not indicative of credit losses and it does not currently intend to sell the investments or expect to be required to sell before recovery. Level‑3 and illiquid limited partnership investments totaled material amounts ($3,353 million Level 3 and $2,041 million limited partnerships in run‑off insurance operations) and are generally illiquid.

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