Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 91

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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31 73 104 Operating lease right-of-use assets19 9 28 Goodwill— 425 425 Intangible assets— 3 3 Contract assets13 3 16 All other assets6 1 7 Total assets of businesses held for sale410 694 1,104 LiabilitiesAccounts payable112 33 145 Progress collections and deferred income25 20 45 Operating lease liabilities-current3 5 8 All other current liabilities31 16 47 Operating lease liabilities15 3 18 All other liabilities15 5 20 Total liabilities of businesses held for sale201 82 283 Total net assets of businesses held for sale$209 $612 $821 

Baker Hughes Company 2025 Third Quarter Form 10-Q | 25

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 Conditions

In the third quarter of 2025, we saw continued slowing of activity across global oil markets, primarily due to ongoing geopolitical tensions, uncertainty around international trade policy, and operator concerns about the accelerated return of idled supply from the Organization of the Petroleum Exporting Countries and its allies ("OPEC+").

As we look to the fourth quarter of 2025 and into 2026, we remain positive on the global natural gas outlook, while we anticipate ongoing volatility in oil markets. We expect that softer demand combined with increased OPEC+ production will contribute to rising oil inventories, which may