Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 70

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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22) million and $45 million for the six months ended June 30, 2025 and 2024, respectively.(2)As of June 30, 2025, the Company's non-U.S. debt securities are classified as available for sale securities and mature within one year.As of June 30, 2025 and December 31, 2024, the balance of the Company's equity securities with readily determinable fair values is $1,277 million and $1,281 million, respectively, and is comprised mainly of the Company's investment in Abu Dhabi National Oil Company Drilling, and is recorded primarily in "All other current assets" in the condensed consolidated statements of financial position. The Company measured its investments at fair value based on quoted prices in active markets. Net gains (losses) related to the Company's equity securities with readily determinable fair values are reported in "Other (income) expense, net" in the condensed consolidated statements of income (loss). See "Note 17. Other (Income) Expense, Net" for further information.FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTSThe Company's financial instruments include cash and cash equivalents, receivables, certain investments, accounts payable, short and long-term debt, and derivative financial instruments. Except for long-term debt, the estimated fair value of these financial instruments as of June 30, 2025 and December 31, 2024 approximates their carrying value as reflected in the condensed consolidated financial statements. For further information on the fair value of the Company's debt, see "Note 8. Debt."

Baker Hughes Company 2025 Second Quarter Form 10-Q | 15

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

DERIVATIVES AND HEDGINGThe Company uses derivatives to manage its risks and does not use derivatives for speculation. The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives. June 30, 2025December 31, 2024AssetsLiabilitiesAssetsLiabilitiesDerivatives accounted for as hedgesCurrency exchange contracts$2 $— $2 $(2)Interest rate swap contracts— (32)— (45)Derivatives not accounted for as hedgesCurrency exchange contracts and other15 (12)9 (17)Total derivatives$17 $(44)$11 $(64)Derivatives are classified in the condensed consolidated statements of