FAIRFIELD (dpa-AFX) - GE (GE) said the company has voluntarily pre-funded $2.5 billion of estimated minimum ERISA GE Pension Plan funding requirements for 2021, 2022, and into 2023. The company also repaid $1.5 billion of its intercompany loan to GE Capital. These actions reduced GE's pension deficit by $2.5 billion and reduced the intercompany balance.
GE CEO Lawrence Culp, Jr., said, '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.'
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