Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 90

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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269 million of intangible assets, subject to final fair value adjustments. Pro forma results of operations for this acquisition have not been presented because the effects of the acquisition were not material to the Company's condensed consolidated financial statements.BUSINESSES HELD FOR SALEThe Company classifies assets and liabilities as held for sale ("disposal group") when management commits to a plan to sell the disposal group and concludes that it meets the relevant criteria. Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. Conversely, gains are not recognized until the date of sale.On June 2, 2025, the Company entered into an agreement to form a joint venture with a subsidiary of Cactus, Inc. The Company will contribute the Surface Pressure Control ("SPC") business, a business within the Subsea & 

Baker Hughes Company 2025 Third Quarter Form 10-Q | 24

Baker Hughes CompanyNotes to Unaudited Condensed Consolidated Financial Statements

Surface Pressure Systems product line of its OFSE segment, to the newly formed joint venture in exchange for a 35% non-controlling interest and cash consideration of approximately $345 million. The Company expects to complete the sale early 2026 subject to customary conditions, including regulatory approvals.On June 9, 2025, the Company entered into an agreement with Crane Company, a diversified manufacturer of engineered industrial products, to sell its Precision Sensors & Instrumentation ("PSI") business, a business within the Industrial Solutions product line of its IET segment, for a total cash consideration of approximately $1.15 billion. The Company expects to complete the sale early 2026 subject to customary conditions, including regulatory approvals.For both transactions, as of September 30, 2025, the businesses continue to meet the criteria to be classified as held for sale. The disposition proceeds are expected to exceed the carrying value of the businesses.The following table presents financial information related to the assets and liabilities of the businesses classified as held for sale and reported in "All other current assets" and "All other current liabilities" in the condensed consolidated statements of financial position as of September 30, 2025.Assets and liabilities of businesses held for saleSPCPSITotalAssetsCurrent receivables$221 $71 $292 Inventories118 108 226 All other current assets2 1 3 Property, plant and equipment