Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 42

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 and other bank issued guarantees. The Company also provides a guarantee to GE Vernova on behalf of a customer who entered into a financing arrangement with GE Vernova. Total off-balance sheet arrangements were approximately $5.7 billion at March 31, 2025. It is not practicable to estimate the fair value of these financial instruments. As of March 31, 2025, none of the off-balance sheet arrangements either has, or is likely to have, a material effect on the Company's financial position, results of operations or cash flows.The Company sometimes enters into joint and several liability consortiums or similar arrangements for certain projects. Under such arrangements, each party is responsible for performing a certain scope of work within the total scope of the contracted work, and the obligations expire when all contractual obligations are completed. The failure or inability, financially or otherwise, of any of the parties to perform their obligations could impose additional costs and obligations on the Company. These factors could result in unanticipated costs to complete the project, liquidated damages or contract disputes.

NOTE 17. RESTRUCTURING

The Company recorded restructuring charges of nil during the three months ended March 31, 2025 and 2024. The following table presents restructuring and associated impairment charges by the impacted segment:Three Months Ended March 31,20252024Oilfield Services & Equipment$— $(5)Industrial & Energy Technology— — Corporate— 5 Total$— $— The following table presents restructuring charges by type:Three Months Ended March 31,20252024Property, plant and equipment$— $— Employee-related termination expenses— (2)Other incremental costs— 2 Total$— $— 

Baker Hughes Company 2025 First Quarter Form 10-Q | 21

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

NOTE 18. OTHER (INCOME) EXPENSE, NET

Other (income) expense, net consists of the following:Three Months Ended March 31,20252024Change in fair value of equity securities$140 $(52)Other charges and credits (1)— 30 Total$140 $(22)(1)Other charges and credits of $1 million for the three months ended March 31, 2025 consist of other income within OFSE, IET, and Corporate.The Company recorded other (income) expense, net of $140 million and $(22) million for the three months ended