Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 37

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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2026 subject to customary conditions, including regulatory approvals.For both transactions, as of June 30, 2025, the businesses met the criteria to be classified as held for sale. The disposition proceeds are expected to exceed the carrying value of the businesses.

Baker Hughes Company 2025 Second Quarter Form 10-Q | 23

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

The following table presents financial information related to the assets and liabilities of the businesses classified as held for sale and reported in "All other current assets" and "All other current liabilities" in the condensed consolidated statements of financial position as of June 30, 2025.Assets and liabilities of business held for saleSPCPSITotalAssetsCurrent receivables$195 $62 $257 Inventories113 103 216 All other current assets2 1 3 Property, plant and equipment37 69 106 Operating lease right-of-use assets13 9 22 Goodwill— 425 425 Intangible assets— 3 3 Contract assets8 3 11 All other assets4 1 5 Total assets of business held for sale372 676 1,048 LiabilitiesAccounts payable102 38 140 Progress collections and deferred income28 19 47 Operating lease liabilities-current1 4 5 All other current liabilities25 13 38 Operating lease liabilities11 4 15 All other liabilities17 6 23 Total liabilities of business held for sale184 84 268 Total net assets of business held for sale$188 $592 $780 

Baker Hughes Company 2025 Second Quarter Form 10-Q | 24

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