Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 89

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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Other charges and credits (1)16 (35)(10)(11)Total$71 $(134)$77 $(182)(1)Other charges and credits of $1 million and $(5) million for the three and nine months ended September 30, 2025, respectively, consist of other (income) expense, net within OFSE and IET.The Company recorded other (income) expense, net of $71 million and $(134) million for the three months ended September 30, 2025 and 2024, respectively, and $77 million and $(182) million for the nine months ended September 30, 2025 and 2024, respectively. Transaction related costs consist of legal and other professional fees in connection with the businesses being disposed of and acquired, the most significant of which is the ongoing Chart acquisition activities.

NOTE 18. ACQUISITIONS AND BUSINESSES HELD FOR SALE

ACQUISITIONSOn July 28, 2025, the Company entered into a definitive agreement to acquire Chart in the IET segment. Chart is a global leader in the design, engineering and manufacturing of process technologies and equipment for gas and liquid molecule handling across a broad range of industrial and energy end markets. The Company will acquire all outstanding shares of Chart's common stock for $210 per share in cash, equivalent to a total enterprise value of $13.6 billion. Under the terms of the agreement, the Company agreed to pay $258 million for the termination fee and the reimbursement of certain expenses on behalf of Chart to Flowserve Corporation ("Flowserve"), as a result of the termination of the merger agreement by and among Chart and Flowserve. This payment on behalf of Chart was recorded as an advance payment in "All other current assets" in the Company's condensed consolidated statements of financial position and in "Net cash paid for acquisitions" in the Company's condensed consolidated statements of cash flows. The acquisition is expected to close mid-2026, subject to customary conditions, including regulatory approvals. See "Note 8. Debt" for further information on the financing for this transaction.On August 7, 2025, the Company completed the acquisition of CDC in the IET segment for total consideration of $553 million. CDC is a leading provider of safety-critical pressure management solutions. The assets acquired and liabilities assumed in this acquisition were recorded based on preliminary estimates of their fair values as of the acquisition date. As a result of this acquisition, the Company recorded $228 million of goodwill and $