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10-Q Filing

BAKER HUGHES CO CIK: 1701605 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001701605-21-000048
Period End Date 20210331
Filing Date 20210423
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance bkr-20210331_htm.xml
Balance Sheet 63 line items
Line Item Tag Value Unit Period
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $5.12B USD Point-in-time
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.92B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.13B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.38B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.01B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.25B USD Point-in-time
Current receivables, net ReceivablesNetCurrent $5.62B USD Point-in-time
Current receivables, net ReceivablesNetCurrent $5.26B USD Point-in-time
Inventories, net InventoryNet $4.18B USD Point-in-time
Inventories, net InventoryNet $4.42B USD Point-in-time
All other current assets OtherAssetsCurrent $2.28B USD Point-in-time
All other current assets OtherAssetsCurrent $1.96B USD Point-in-time
Total current assets AssetsCurrent $16.45B USD Point-in-time
Total current assets AssetsCurrent $15.79B USD Point-in-time
Property, plant and equipment (net of accumulated depreciation of $4,925 and $5,115) PropertyPlantAndEquipmentNet $5.36B USD Point-in-time
Property, plant and equipment (net of accumulated depreciation of $4,925 and $5,115) PropertyPlantAndEquipmentNet $5.16B USD Point-in-time
Goodwill Goodwill $5.97B USD Point-in-time
Goodwill Goodwill $5.98B USD Point-in-time
Goodwill Goodwill $20.69B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $4.23B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $4.40B USD Point-in-time
Contract and other deferred assets UnbilledContractsReceivable $1.90B USD Point-in-time
Contract and other deferred assets UnbilledContractsReceivable $2.00B USD Point-in-time
All other assets OtherAssetsNoncurrent $2.87B USD Point-in-time
All other assets OtherAssetsNoncurrent $2.85B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $953.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $943.00M USD Point-in-time
Total assets Assets $38.01B USD Point-in-time
Total assets Assets $36.84B USD Point-in-time
Accounts payable AccountsPayableCurrent $3.47B USD Point-in-time
Accounts payable AccountsPayableCurrent $3.53B USD Point-in-time
Short-term debt and current portion of long-term debt DebtCurrent $889.00M USD Point-in-time
Short-term debt and current portion of long-term debt DebtCurrent $887.00M USD Point-in-time
Progress collections and deferred income ContractWithCustomerLiabilityCurrent $3.45B USD Point-in-time
Progress collections and deferred income ContractWithCustomerLiabilityCurrent $3.40B USD Point-in-time
All other current liabilities OtherLiabilitiesCurrent $2.35B USD Point-in-time
All other current liabilities OtherLiabilitiesCurrent $2.21B USD Point-in-time
Total current liabilities LiabilitiesCurrent $9.96B USD Point-in-time
Total current liabilities LiabilitiesCurrent $10.23B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $6.73B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $6.74B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $186.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $166.00M USD Point-in-time
Liabilities for pensions and other postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $1.22B USD Point-in-time
Liabilities for pensions and other postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $1.20B USD Point-in-time
All other liabilities OtherLiabilitiesNoncurrent $1.39B USD Point-in-time
All other liabilities OtherLiabilitiesNoncurrent $1.36B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $25.36B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $24.61B USD Point-in-time
Retained loss RetainedEarningsAccumulatedDeficit $-10.39B USD Point-in-time
Retained loss RetainedEarningsAccumulatedDeficit $-9.94B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.78B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.92B USD Point-in-time
Baker Hughes Company equity StockholdersEquity $12.89B USD Point-in-time
Baker Hughes Company equity StockholdersEquity $13.04B USD Point-in-time
Noncontrolling interests MinorityInterest $5.35B USD Point-in-time
Noncontrolling interests MinorityInterest $4.38B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.42B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.98B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $18.24B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $34.50B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $38.01B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $36.84B USD Point-in-time
Income Statement 29 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $5.42B USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $4.78B USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $675.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $587.00M USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $14.77B USD Annual
Goodwill impairment GoodwillImpairmentLoss - USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $14.77B USD 1 Quarter
Restructuring, impairment and other RestructuringImpairmentAndOther $1.32B USD 1 Quarter
Restructuring, impairment and other RestructuringImpairmentAndOther $80.00M USD 1 Quarter
Separation related SeparationAndMergerRelatedCosts $41.00M USD 1 Quarter
Separation related SeparationAndMergerRelatedCosts $27.00M USD 1 Quarter
Total costs and expenses CostsAndExpenses $21.48B USD 1 Quarter
Total costs and expenses CostsAndExpenses $4.62B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-16.06B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $164.00M USD 1 Quarter
Other non-operating income (loss), net OtherNonoperatingIncomeExpense $25.00M USD 1 Quarter
Other non-operating income (loss), net OtherNonoperatingIncomeExpense $-626.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-74.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-59.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-536.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-16.09B USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $69.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $5.00M USD 1 Quarter
Net loss ProfitLoss $-16.10B USD 1 Quarter
Net loss ProfitLoss $-605.00M USD 1 Quarter
Less: Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-5.87B USD 1 Quarter
Less: Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-153.00M USD 1 Quarter
Net loss attributable to Baker Hughes Company NetIncomeLoss $-10.23B USD 1 Quarter
Net loss attributable to Baker Hughes Company NetIncomeLoss $-452.00M USD 1 Quarter
Cash Flow Statement 63 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-16.10B USD 1 Quarter
Net loss ProfitLoss $-605.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $292.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $355.00M USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $14.77B USD Annual
Goodwill impairment GoodwillImpairmentLoss - USD 1 Quarter
Goodwill impairment GoodwillImpairmentLoss $14.77B USD 1 Quarter
Intangible assets impairment ImpairmentOfIntangibleAssetsFinitelived - USD 1 Quarter
Intangible assets impairment ImpairmentOfIntangibleAssetsFinitelived $725.00M USD 1 Quarter
Property, plant and equipment impairment ImpairmentOfLongLivedAssetsHeldForUse - USD 1 Quarter
Property, plant and equipment impairment ImpairmentOfLongLivedAssetsHeldForUse $218.00M USD 1 Quarter
Inventory impairment InventoryWriteDown - USD 1 Quarter
Inventory impairment InventoryWriteDown $160.00M USD 1 Quarter
Unrealized loss on equity security EquitySecuritiesFvNiUnrealizedLoss - USD 1 Quarter
Unrealized loss on equity security EquitySecuritiesFvNiUnrealizedLoss $788.00M USD 1 Quarter
Current receivables IncreaseDecreaseInAccountsReceivable $-341.00M USD 1 Quarter
Current receivables IncreaseDecreaseInAccountsReceivable $-179.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-88.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $140.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-182.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-11.00M USD 1 Quarter
Progress collections and deferred income IncreaseDecreaseInContractWithCustomerLiability $-19.00M USD 1 Quarter
Progress collections and deferred income IncreaseDecreaseInContractWithCustomerLiability $311.00M USD 1 Quarter
Contract and other deferred assets IncreaseDecreaseInDeferredCharges $-6.00M USD 1 Quarter
Contract and other deferred assets IncreaseDecreaseInDeferredCharges $-15.00M USD 1 Quarter
Other operating items, net IncreaseDecreaseInOtherOperatingCapitalNet $202.00M USD 1 Quarter
Other operating items, net IncreaseDecreaseInOtherOperatingCapitalNet $-162.00M USD 1 Quarter
Net cash flows from operating activities NetCashProvidedByUsedInOperatingActivities $678.00M USD 1 Quarter
Net cash flows from operating activities NetCashProvidedByUsedInOperatingActivities $478.00M USD 1 Quarter
Expenditures for capital assets PaymentsToAcquireProductiveAssets $221.00M USD 1 Quarter
Expenditures for capital assets PaymentsToAcquireProductiveAssets $365.00M USD 1 Quarter
Proceeds from disposal of assets ProceedsFromSaleOfProductiveAssets $40.00M USD 1 Quarter
Proceeds from disposal of assets ProceedsFromSaleOfProductiveAssets $41.00M USD 1 Quarter
Other investing items, net PaymentsForProceedsFromOtherInvestingActivities $-7.00M USD 1 Quarter
Other investing items, net PaymentsForProceedsFromOtherInvestingActivities $-6.00M USD 1 Quarter
Net cash flows used in investing activities NetCashProvidedByUsedInInvestingActivities $-318.00M USD 1 Quarter
Net cash flows used in investing activities NetCashProvidedByUsedInInvestingActivities $-174.00M USD 1 Quarter
Net repayments of debt and other borrowings ProceedsFromRepaymentsOfOtherDebtAndOtherBorrowings $-115.00M USD 1 Quarter
Net repayments of debt and other borrowings ProceedsFromRepaymentsOfOtherDebtAndOtherBorrowings $-36.00M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $131.00M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $118.00M USD 1 Quarter
Distributions to GE PaymentsToMinorityShareholders $56.00M USD 1 Quarter
Distributions to GE PaymentsToMinorityShareholders $68.00M USD 1 Quarter
Other financing items, net ProceedsFromPaymentsForOtherFinancingActivities $-26.00M USD 1 Quarter
Other financing items, net ProceedsFromPaymentsForOtherFinancingActivities $-32.00M USD 1 Quarter
Net cash flows used in financing activities NetCashProvidedByUsedInFinancingActivities $-327.00M USD 1 Quarter
Net cash flows used in financing activities NetCashProvidedByUsedInFinancingActivities $-255.00M USD 1 Quarter
Effect of currency exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.00M USD 1 Quarter
Effect of currency exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-72.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $250.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-239.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.13B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.38B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.01B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.25B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.13B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.38B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.01B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.25B USD Point-in-time
Income taxes paid, net of refunds IncomeTaxesPaidNet $39.00M USD 1 Quarter
Income taxes paid, net of refunds IncomeTaxesPaidNet $118.00M USD 1 Quarter
Interest paid InterestPaidNet $51.00M USD 1 Quarter
Interest paid InterestPaidNet $49.00M USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.42B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.98B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $18.24B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $34.50B USD Point-in-time
Net loss ProfitLoss $-16.10B USD 1 Quarter
Net loss ProfitLoss $-605.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-265.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-42.00M USD 1 Quarter
Dividends on Class A common stock ($0.18 per share) DividendsCommonStockCash $118.00M USD 1 Quarter
Dividends on Class A common stock ($0.18 per share) DividendsCommonStockCash $131.00M USD 1 Quarter
Distributions to GE MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $56.00M USD 1 Quarter
Distributions to GE MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $68.00M USD 1 Quarter
Effect of exchange of Class B common stock and associated BHH LLC Units MinorityInterestDecreaseFromRedemptions - USD 1 Quarter
Stock-based compensation cost AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $56.00M USD 1 Quarter
Stock-based compensation cost AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $50.00M USD 1 Quarter
Other StockholdersEquityOther $34.00M USD 1 Quarter
Other StockholdersEquityOther $21.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.42B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.98B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $18.24B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $34.50B USD Point-in-time
Comprehensive Income 26 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-16.10B USD 1 Quarter
Net loss ProfitLoss $-605.00M USD 1 Quarter
Less: Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-5.87B USD 1 Quarter
Less: Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-153.00M USD 1 Quarter
Net loss attributable to Baker Hughes Company NetIncomeLoss $-10.23B USD 1 Quarter
Net loss attributable to Baker Hughes Company NetIncomeLoss $-452.00M USD 1 Quarter
Investment securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Investment securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-2.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-51.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-277.00M USD 1 Quarter
Cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $6.00M USD 1 Quarter
Cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-8.00M USD 1 Quarter
Benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-3.00M USD 1 Quarter
Benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-22.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-265.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-42.00M USD 1 Quarter
Less: Other comprehensive loss attributable to noncontrolling interests OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $-11.00M USD 1 Quarter
Less: Other comprehensive loss attributable to noncontrolling interests OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $-97.00M USD 1 Quarter
Other comprehensive loss attributable to Baker Hughes Company OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-31.00M USD 1 Quarter
Other comprehensive loss attributable to Baker Hughes Company OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-168.00M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-647.00M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-16.36B USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-5.97B USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-164.00M USD 1 Quarter
Comprehensive loss attributable to Baker Hughes Company ComprehensiveIncomeNetOfTax $-483.00M USD 1 Quarter
Comprehensive loss attributable to Baker Hughes Company ComprehensiveIncomeNetOfTax $-10.39B USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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