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.