Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 15

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Baker Hughes Company

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Six Months Ended June 30,(In millions)20252024Cash flows from operating activities:Net income$1,120 $1,044 Adjustments to reconcile net income to net cash flows from operating activities:Depreciation and amortization579 566 Change in fair value of equity securities21 (71)Stock-based compensation cost102 101 (Benefit) provision for deferred income taxes(17)33 Changes in operating assets and liabilities:Current receivables532 (5)Inventories(92)(124)Accounts payable(153)227 Progress collections and deferred income(258)17 Contract and other deferred assets69 (151)Other operating items, net(684)(505)Net cash flows provided by operating activities1,219 1,132 Cash flows from investing activities:Expenditures for capital assets(601)(625)Proceeds from disposal of assets74 101 Other investing items, net(69)(6)Net cash flows used in investing activities(596)(530)Cash flows from financing activities:Repayment of long-term debt— (125)Dividends paid(456)(419)Repurchase of Class A common stock(384)(324)Other financing items, net(105)(61)Net cash flows used in financing activities(945)(929)Effect of currency exchange rate changes on cash and cash equivalents45 (35)Decrease in cash and cash equivalents(277)(362)Cash and cash equivalents, beginning of period3,364 2,646 Cash and cash equivalents, end of period$3,087 $2,284 Supplemental cash flows disclosures:Income taxes paid, net of refunds$418 $336 Interest paid$148 $150 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements.

Baker Hughes Company 2025 Second Quarter Form 10-Q | 6

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

DESCRIPTION OF THE BUSINESSBaker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain.BASIS OF PRESENTATIONThe accompanying unaudited condensed