Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 71

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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10-Q | 15

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

NOTE 13. REVENUE RELATED TO CONTRACTS WITH CUSTOMERS

DISAGGREGATED REVENUEThe Company disaggregates its revenue from contracts with customers by product line for both the OFSE and IET segments, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. In addition, management views revenue from contracts with customers for OFSE by geography based on the location to where the product is shipped or the services are performed.The series of tables below present the Company's revenue disaggregated by these categories.Three Months Ended March 31,Total Revenue20252024Well Construction$892 $1,061 Completions, Intervention, and Measurements925 1,006 Production Solutions899 945 Subsea & Surface Pressure Systems782 771 Oilfield Services & Equipment3,499 3,783 Gas Technology Equipment1,456 1,210 Gas Technology Services592 614 Total Gas Technology2,047 1,824 Industrial Products445 462 Industrial Solutions258 265 Total Industrial Technology703 727 Climate Technology Solutions178 83 Industrial & Energy Technology2,928 2,634 Total$6,427 $6,418 Three Months Ended March 31,Oilfield Services & Equipment Geographic Revenue20252024North America$922 $990 Latin America568 637 Europe/CIS/Sub-Saharan Africa580 750 Middle East/Asia1,429 1,405 Oilfield Services & Equipment$3,499 $3,783 REMAINING PERFORMANCE OBLIGATIONSAs of March 31, 2025, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $33.2 billion. As of March 31, 2025, the Company expects to recognize revenue of approximately 61%, 73% and 89% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as the Company fulfills the related remaining performance obligations.

Baker Hughes Company 2025 First Quarter Form 10-Q | 16

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial