Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 73

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 and subtotals included on the Company's income statement. The CODM assesses the performance of each segment based on segment EBITDA, which is defined as income (loss) before income taxes and before the following: net interest expense, costs associated with significant restructuring programs, depreciation and amortization, and unallocated corporate costs and other income (expense). The CODM uses segment EBITDA as the measure to make resource (including financial or capital resources) allocation decisions for each segment, predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis when evaluating performance for each segment and making decisions about capital allocation. Accounting policies have been applied consistently by all segments within the Company for all reporting periods. Intercompany revenue and expense amounts have been eliminated within each segment to report on the basis that management uses internally for evaluating segment performance.

Baker Hughes Company 2025 First Quarter Form 10-Q | 17

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

Summarized financial information for the Company's segments is shown in the following tables.Three Months Ended March 31, 2025OFSEIETTotalRevenue$3,499 $2,928 $6,427 Cost of goods and services sold(2,819)(2,112)(4,931)Research and development(61)(84)(146)Selling, general and administrative and other(221)(284)(505)Add: Depreciation and amortization226 53 279 Segment EBITDA$623 $501 $1,124 Three Months Ended March 31, 2024OFSEIETTotalRevenue$3,783 $2,634 $6,418 Cost of goods and services sold(3,053)(1,903)(4,956)Research and development(68)(96)(164)Selling, general and administrative and other(240)(305)(546)Add: Depreciation and amortization222 56 279 Segment EBITDA$644 $386 $1,030 Three Months Ended March 31,Reconciliation of segment EBITDA to Net Income Attributable to Baker Hughes Company:20252024OFSE$623 $644 IET 501 386 Total segment1,124 1,030 Corporate costs (1)(85)(88)Other income (expense), net (2)(141)22 Deprec