Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 38

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 13,838 Total segment31,940 32,619 Corporate and eliminations (1)6,170 5,744 Total$38,110 $38,363 (1)The assets reported in Corporate and eliminations consist primarily of the Baker Hughes trade name, cash, and tax assets. It also includes adjustments to eliminate intercompany investments and receivables reflected within the total assets of each of the reportable segments.The following table presents depreciation and amortization:Three Months Ended March 31,Depreciation and amortization20252024OFSE$226 $222 IET53 56 Total segment279 279 Corporate6 4 Total$285 $283 The following table presents capital expenditures:Three Months Ended March 31,Capital expenditures20252024OFSE$201 $259 IET85 70 Total segment286 329 Corporate14 4 Total$300 $333 

NOTE 15. RELATED PARTY TRANSACTIONS

The Company has an aeroderivative joint venture ("Aero JV") it formed with General Electric Company ("GE") in 2019. As of March 31, 2025, the Aero JV was jointly controlled by GE Vernova (NYSE: GEV) and the Company, each with ownership interest of 50%, and therefore, the Company does not consolidate the Aero JV. As a result of GE's spin-off of GE Vernova, GE transferred its interest in the Aero JV to GE Vernova in the second quarter of 2024. The Company had purchases from the Aero JV of $148 million and $103 million during the three months ended March 31, 2025 and 2024, respectively. The Company had $107 million and $117 million of amounts due at March 31, 2025 and December 31, 2024, respectively, for products and services provided by the Aero JV in the ordinary course of business.

NOTE 16. COMMITMENTS AND CONTINGENCIES

LITIGATIONThe Company is subject to legal proceedings arising in the ordinary course of business. Because legal proceedings are inherently uncertain, management is unable to predict the ultimate outcome of such matters. The Company records a liability for those contingencies where the incurrence of a loss is probable and the amount can 

Baker Hughes Company 2025 First Quarter Form 10-Q | 19

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

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