Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 81

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 or early 2026 subject to customary conditions, including regulatory approvals.On June 9, 2025, the Company entered into an agreement with Crane Company, a diversified manufacturer of engineered industrial products, to sell its Precision Sensors & Instrumentation ("PSI") business, a business within the Industrial Solutions product line of its IET segment, for a total cash consideration of approximately $1.15 billion. The Company expects to complete the sale at the end of 2025 or early 2026 subject to customary conditions, including regulatory approvals.For both transactions, as of June 30, 2025, the businesses met the criteria to be classified as held for sale. The disposition proceeds are expected to exceed the carrying value of the businesses.

Baker Hughes Company 2025 Second Quarter Form 10-Q | 23

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

The following table presents financial information related to the assets and liabilities of the businesses classified as held for sale and reported in "All other current assets" and "All other current liabilities" in the condensed consolidated statements of financial position as of June 30, 2025.Assets and liabilities of business held for saleSPCPSITotalAssetsCurrent receivables$195 $62 $257 Inventories113 103 216 All other current assets2 1 3 Property, plant and equipment37 69 106 Operating lease right-of-use assets13 9 22 Goodwill— 425 425 Intangible assets— 3 3 Contract assets8 3 11 All other assets4 1 5 Total assets of business held for sale372 676 1,048 LiabilitiesAccounts payable102 38 140 Progress collections and deferred income28 19 47 Operating lease liabilities-current1 4 5 All other current liabilities25 13 38 Operating lease liabilities11 4 15 All other liabilities17 6 23 Total liabilities of business held for sale184 84 268 Total net assets of business held for sale$188 $592 $780 

Baker Hughes Company 2025 Second Quarter Form 10-Q | 24

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Management's Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the condensed consolidated financial statements and the related notes included