Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 19

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

Baker Hughes Company

Condensed Consolidated Statements of Income (Loss)

(Unaudited)

Three Months Ended March 31,(In millions, except per share amounts)20252024Revenue:Sales of goods$4,144 $3,999 Sales of services2,283 2,419 Total revenue 6,427 6,418 Costs and expenses:Cost of goods sold3,329 3,276 Cost of services sold1,623 1,700 Selling, general and administrative577 618 Research and development costs146 164 Other (income) expense, net140 (22)Interest expense, net51 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 Per share amounts:Basic income per Class A common stock$0.41 $0.46 Diluted income per Class A common stock$0.40 $0.45 Cash dividend per Class A common stock$0.23 $0.21 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements.

Baker Hughes Company 2025 First Quarter Form 10-Q | 1

Baker Hughes Company

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited)

Three Months Ended March 31,(In millions)20252024Net income$409 $463 Less: Net income attributable to noncontrolling interests7 8 Net income attributable to Baker Hughes Company402 455 Other comprehensive income (loss):Foreign currency translation adjustments188 (63)Cash flow hedges2 2 Benefit plans1 2 Other comprehensive income (loss)191 (59)Less: Other comprehensive income attributable to noncontrolling interests— — Other comprehensive income (loss) attributable to Baker Hughes Company191 (59)Comprehensive income600 404 Less: Comprehensive income attributable to noncontrolling interests7 8 Comprehensive income attributable to Baker Hughes Company$593 $396 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements.

Baker Hughes Company 2025 First Quarter Form 10-Q | 2

Baker Hughes Company

Condensed Consolidated Statements of Financial