Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 79

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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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 March 31, 2025 and 2024, respectively, primarily due to change in fair value of equity securities.

Baker Hughes Company 2025 First Quarter Form 10-Q | 22

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 in Item 1 thereto, as well as our Annual Report on Form 10-K for the year ended December 31, 2024 ("2024 Annual Report").

Baker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a broad and diversified portfolio of technologies and services that span the energy and industrial value chain. We conduct business in more than 120 countries and employ approximately 57,000 employees. We operate through our two business segments: Oilfield Services & Equipment ("OFSE") and Industrial & Energy Technology ("IET"). We sell products and services primarily in the global oil and gas markets, within the upstream, midstream and downstream segments, as well as broader industrial and new energy markets.

EXECUTIVE SUMMARY

Market