Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 94

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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 the cash flows from operating activities for the six months ended June 30, 2025 and 2024 were payments of $67 million and $130 million, respectively, made primarily for employee severance as a result of our restructuring activities.

Investing Activities

Cash flows used in investing activities were $596 million and $530 million for the six months ended June 30, 2025 and 2024, respectively.

Our principal recurring investing activity is the funding of capital expenditures including property, plant and equipment ("PP&E") and software, to support and generate revenue from operations. Expenditures for capital assets were $601 million and $625 million for the six months ended June 30, 2025 and 2024, respectively, partially offset by cash flows from the disposal of PP&E of $74 million and $101 million for the six months ended June 30, 2025 and 2024, respectively. Proceeds from the disposal of assets were primarily related to OFSE equipment that was lost-in-hole, and PP&E no longer used in operations that was sold throughout the period.

Baker Hughes Company 2025 Second Quarter Form 10-Q | 33

Financing Activities

Cash flows used in financing activities were $945 million and $929 million for the six months ended June 30, 2025 and 2024, respectively.

We increased our quarterly dividend during the six months ended June 30, 2025 and 2024 by two cents to $0.23 and one cent to $0.21 per share, respectively. We paid dividends of $456 million and $419 million to our Class A shareholders during the six months ended June 30, 2025 and 2024, respectively.

We repurchased and canceled 9.8 million shares of Class A common stock for a total of $384 million during the six months ended June 30, 2025. During the six months ended June 30, 2024, we repurchased and canceled 10.5 million shares of Class A common stock for a total of $324 million.

We repaid long-term debt of $125 million primarily related to debentures that matured in June 2024 during the six months ended June 30, 2024.

Cash Requirements

We believe cash on hand, cash flows from operating activities, the available revolving credit facility, access to our uncommitted lines of credit, and availability under our existing shelf registrations of debt will provide us with sufficient capital resources and