Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 22

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
(193)170 Contract and other deferred assets117 (68)Other operating items, net(340)(146)Net cash flows provided by operating activities709 784 Cash flows from investing activities:Expenditures for capital assets(300)(333)Proceeds from disposal of assets45 51 Other investing items, net(55)13 Net cash flows used in investing activities(310)(269)Cash flows from financing activities:Dividends paid(229)(210)Repurchase of Class A common stock(188)(158)Other financing items, net(85)(59)Net cash flows used in financing activities(502)(427)Effect of currency exchange rate changes on cash and cash equivalents16 (17)Increase (decrease) in cash and cash equivalents(87)71 Cash and cash equivalents, beginning of period3,364 2,646 Cash and cash equivalents, end of period$3,277 $2,717 Supplemental cash flows disclosures:Income taxes paid, net of refunds$207 $108 Interest paid$50 $48 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements.

Baker Hughes Company 2025 First Quarter Form 10-Q | 5

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

DESCRIPTION OF THE BUSINESSBaker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain.BASIS OF PRESENTATIONThe accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S.") and pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, certain information and disclosures normally included in the Company's annual financial statements have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (the "2024 Annual Report").In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state the results of operations, financial