Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 70

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 70
---
30, 2025December 31, 2024Finished goods$2,404 $2,494 Work in process and raw materials2,632 2,460 Total inventories, net$5,036 $4,954 

NOTE 4. GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILLThe changes in the carrying value of goodwill are detailed below by segment:Oilfield Services & EquipmentIndustrial & Energy TechnologyTotalBalance at December 31, 2023, gross$19,817 $4,850 $24,667 Accumulated impairment at December 31, 2023(18,276)(254)(18,530)Balance at December 31, 20231,541 4,596 6,137 Currency exchange and other6 (65)(59)Balance at December 31, 20241,547 4,531 6,078 Acquisitions— 228 228 Currency exchange and other13 157 170 Total1,560 4,916 6,476 Classified as held for sale— (425)(425)Balance at September 30, 2025$1,560 $4,491 $6,051 During the third quarter of 2025, the Company completed its annual goodwill impairment test, concluding that there are no events or circumstances that existed that would lead to a determination that it is more likely than not that the fair value of any reporting unit is less than its carrying value.During the three and nine months ended September 30, 2025, the Company recorded goodwill of $228 million related to the acquisition of Continental Disc Corporation ("CDC") in the Industrial & Energy Technology ("IET") segment.

Baker Hughes Company 2025 Third Quarter Form 10-Q | 9

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

OTHER INTANGIBLE ASSETSIntangible assets consist of the following:September 30, 2025December 31, 2024GrossCarryingAmountAccumulatedAmortizationNetGrossCarryingAmountAccumulatedAmortizationNetCustomer relationships$2,193 $(970)$1,223 $1,921 $(883)$1,038 Technology1,215 (973)242 1,248 (981)267 Trade names and trademarks306 (206)100 290 (196)