Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 74

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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iation and amortization(285)(283)Interest expense, net(51)(41)Income before income taxes561 641 Provision for income taxes(152)(178)Net income409 463 Less: Net income attributable to noncontrolling interests7 8 Net income attributable to Baker Hughes Company$402 $455 (1)Corporate costs are primarily reported in "Selling, general and administrative" in the condensed consolidated statements of income (loss) and exclude $6 million and $4 million of depreciation and amortization for the three months ended March 31, 2025 and 2024, respectively.(2)Other income (expense), net excludes immaterial amounts recorded within Segment EBITDA and corporate costs for the three months ended March 31, 2025. See "Note 18. Other (Income) Expense, Net" for further information.

Baker Hughes Company 2025 First Quarter Form 10-Q | 18

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

The following table presents total assets:AssetsMarch 31, 2025December 31, 2024OFSE$18,456 $18,781 IET13,484 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 Vern