Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 104

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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34 million, mainly due to progress collections and accounts payable payments partially offset by accounts receivable collections, contract assets, and inventory reduction.

For the nine months ended September 30, 2024, net working capital cash usage was $57 million, mainly due to an increase in inventory and contract assets as we continued to build for growth, partially offset by accounts receivable.

Included in the cash flows from operating activities for the nine months ended September 30, 2025 and 2024 were payments of $129 million and $187 million, respectively, made primarily for employee severance as a result of our restructuring activities.

Baker Hughes Company 2025 Third Quarter Form 10-Q | 34

Investing Activities

Cash flows used in investing activities were $1,651 million and $799 million for the nine months ended September 30, 2025 and 2024, respectively.

Our principal recurring investing activity is the funding of capital expenditures including property, plant and equipment ("PP&E") and software, to support and generate revenue from operations. Expenditures for capital assets were $896 million and $925 million for the nine months ended September 30, 2025 and 2024, respectively, partially offset by cash flows from the disposal of PP&E of $139 million and $145 million for the nine months ended September 30, 2025 and 2024, respectively. Proceeds from the disposal of assets were primarily related to OFSE equipment that was lost-in-hole, and PP&E no longer used in operations that was sold throughout the period.

During the nine months ended September 30, 2025, we completed the acquisition of CDC in the IET segment in an all-cash transaction for approximately $542 million.

During the nine months ended September 30, 2025, we entered into an agreement to acquire Chart. Under the terms of the agreement, we paid $258 million for the termination fee and the reimbursement of certain expenses on behalf of Chart to Flowserve Corporation ("Flowserve"), as a result of the termination of the merger agreement by and among Chart and Flowserve.

Financing Activities

Cash flows used in financing activities were $1,224 million and $1,293 million for the nine months ended September 30, 2025 and 2024, respectively.

We increased our quarterly dividend during the nine months ended September 30, 2025 and 2024 by two cents to $0.23 and one cent to $0.21 per share, respectively