Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 62

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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038 Technology1,233 (987)246 1,248 (981)267 Trade names and trademarks290 (199)91 290 (196)94 Capitalized software1,562 (1,199)363 1,522 (1,172)350 Finite-lived intangible assets5,009 (3,286)1,723 4,981 (3,232)1,749 Indefinite-lived intangible assets2,204 — 2,204 2,202 — 2,202 Total intangible assets$7,213 $(3,286)$3,927 $7,183 $(3,232)$3,951 Amortization expense for the three months ended March 31, 2025 and 2024 was $66 million and $68 million, respectively.Estimated amortization expense for the remainder of 2025 and each of the subsequent five fiscal years is expected to be as follows:YearEstimated Amortization ExpenseRemainder of 2025$174 2026195 2027175 2028153 2029124 203099 

NOTE 5. CONTRACT AND OTHER DEFERRED ASSETS

Contract assets reflect revenue earned in excess of billings on long-term contracts to construct technically complex equipment, provide long-term product service and maintenance or extended warranty arrangements and other deferred contract related costs. The Company's long-term product service agreements are provided by the Industrial & Energy Technology ("IET") segment. The Company's long-term equipment contracts are provided by both the IET and Oilfield Services & Equipment ("OFSE") segments. Contract assets consist of the following:March 31, 2025December 31, 2024Long-term product service agreements $343 $346 Long-term equipment contracts and certain other service agreements1,204 1,247 Contract assets (total revenue in excess of billings)1,547 1,593 Deferred inventory costs114 124 Other costs to fulfill or obtain a contract19 13 Contract and other deferred assets$1,680 $1,730 

Baker Hughes Company 2025 First Quarter Form 10-Q | 8

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

Revenue recognized during the three months ended March 31, 2025 and 2024 from performance obligations satisfied (or partially satisfied) in previous periods