How did corporate restructuring impact GE's 2022 expenses?

General Electric's (GE) 2022 expenses were significantly impacted by corporate restructuring, particularly in the areas of selling, general, and administrative (SG&A) expenses and research and development (R&D). Here's a detailed analysis: 1. **Selling, General, and Administrative (SG&A) Expenses**: - GE's SG&A expenses increased by 4.5% year-over-year, reaching $2,868 million. - This rise was primarily due to restructuring costs associated with the spin-off of GE HealthCare. 2. **Research and Development (R&D) Expenses**: - R&D expenses totaled $686 million, reflecting a 9.4% increase year-over-year. - Similar to SG&A, these expenses were influenced by the ongoing restructuring efforts. 3. **Impact on Profitability**: - Despite the increase in expenses, GE's adjusted profit for the quarter was $1,064 million, representing a 19% decline year-over-year. - The margin for the quarter was 5.8%, which decreased by 1 percentage point compared to the previous year. 4. **Segmental Analysis**: - Specific segments, such as Renewable Energy and HealthCare, experienced significant shortfalls in revenue and orders, which contributed to the overall expense burden. - Conversely, the Aerospace and Power segments showed robust performance, with strong revenue growth and order increases. In summary, GE's 2022 expenses were heavily influenced by restructuring activities related to the spin-off of GE HealthCare. While these efforts led to increased SG&A and R&D expenses, the impact on profitability was notable, with a decrease in adjusted profit and margin. The varied performance across different segments further highlights the complexities and challenges associated with corporate restructuring.