Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 37

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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$6,427 Cost of goods and services sold(2,819)(2,112)(4,931)Research and development(61)(84)(146)Selling, general and administrative and other(221)(284)(505)Add: Depreciation and amortization226 53 279 Segment EBITDA$623 $501 $1,124 Three Months Ended March 31, 2024OFSEIETTotalRevenue$3,783 $2,634 $6,418 Cost of goods and services sold(3,053)(1,903)(4,956)Research and development(68)(96)(164)Selling, general and administrative and other(240)(305)(546)Add: Depreciation and amortization222 56 279 Segment EBITDA$644 $386 $1,030 Three Months Ended March 31,Reconciliation of segment EBITDA to Net Income Attributable to Baker Hughes Company:20252024OFSE$623 $644 IET 501 386 Total segment1,124 1,030 Corporate costs (1)(85)(88)Other income (expense), net (2)(141)22 Depreciation and amortization(285)(283)Interest expense, net(51)(41)Income before income taxes561 641 Provision for income taxes(152)(178)Net income409 463 Less: Net income attributable to noncontrolling interests7 8 Net income attributable to Baker Hughes Company$402 $455 (1)Corporate costs are primarily reported in "Selling, general and administrative" in the condensed consolidated statements of income (loss) and exclude $6 million and $4 million of depreciation and amortization for the three months ended March 31, 2025 and 2024, respectively.(2)Other income (expense), net excludes immaterial amounts recorded within Segment EBITDA and corporate costs for the three months ended March 31, 2025. See "Note 18. Other (Income) Expense, Net" for further information.

Baker Hughes Company 2025 First Quarter Form 10-Q | 18

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

The following table presents total assets:AssetsMarch 31, 2025December 31, 2024OFSE$18,456 $18,781 IET13,484