Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 61

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 time are not expected to have a material impact on the Company's financial position or results of operations.

NOTE 2. CURRENT RECEIVABLES

Current receivables consist of the following:March 31, 2025December 31, 2024Customer receivables$5,650 $5,945 Other1,310 1,409 Total current receivables6,960 7,354 Less: Allowance for credit losses(250)(232)Total current receivables, net$6,710 $7,122 Customer receivables are recorded at the invoiced amount. The "Other" category consists primarily of advance payments to suppliers and indirect taxes.The Company's customer receivables are spread over a broad and diverse group of customers across many countries. As of March 31, 2025, 16% of the Company's gross customer receivables were from customers in the U.S. and 11% were from customers in Saudi Arabia. As of December 31, 2024, 16% of the Company's gross customer receivables were from customers in the U.S. and 10% were from customers in Mexico. No other country accounted for more than 10% of the Company's gross customer receivables at these dates.

NOTE 3. INVENTORIES

Inventories, net of reserves of $387 million and $390 million as of March 31, 2025 and December 31, 2024, respectively, consist of the following:March 31, 2025December 31, 2024Finished goods$2,499 $2,494 Work in process and raw materials2,662 2,460 Total inventories, net$5,161 $4,954 

The Company had no inventory impairments during the three months ended March 31, 2025 and 2024.

Baker Hughes Company 2025 First Quarter Form 10-Q | 7

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

NOTE 4. OTHER INTANGIBLE ASSETS

Intangible assets consist of the following:March 31, 2025December 31, 2024GrossCarryingAmountAccumulatedAmortizationNetGrossCarryingAmountAccumulatedAmortizationNetCustomer relationships$1,924 $(901)$1,023 $1,921 $(883)$1,