Baker Hughes Files 2024 Annual Report on Form 10-K

Ticker: BKR · Form: 10-K · Filed: Feb 4, 2025 · CIK: 1701605

Baker Hughes CO 10-K Filing Summary
FieldDetail
CompanyBaker Hughes CO (BKR)
Form Type10-K
Filed DateFeb 4, 2025
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.0001, $643 million, $28.2 b, $30.5 b, $26.8 billion
Sentimentneutral

Sentiment: neutral

Topics: annual-report, debt, sec-filing

Related Tickers: BKR

TL;DR

BKR filed its 2024 10-K. Stock trades on Nasdaq (BKR).

AI Summary

Baker Hughes Company filed its annual report for the fiscal year ended December 31, 2024. The company is incorporated in Delaware and its principal executive offices are located at 575 N. Dairy Ashford Rd., Suite 100, Houston, Texas. Its Class A Common Stock trades on The Nasdaq Stock Market LLC under the symbol BKR, and its 5.125% Senior Notes due 2040 also trade on Nasdaq under the symbol BKR40.

Why It Matters

This filing provides a comprehensive overview of Baker Hughes' financial performance and operational status for the past fiscal year, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing, not indicating immediate operational or financial distress.

Key Numbers

Key Players & Entities

FAQ

What is the trading symbol for Baker Hughes Company's Class A Common Stock?

The trading symbol for Baker Hughes Company's Class A Common Stock is BKR.

On which exchange does Baker Hughes Company's Class A Common Stock trade?

Baker Hughes Company's Class A Common Stock trades on The Nasdaq Stock Market LLC.

What is the interest rate on Baker Hughes' Senior Notes due 2040?

The interest rate on Baker Hughes' 5.125% Senior Notes due 2040 is 5.125%.

What is the trading symbol for Baker Hughes' 5.125% Senior Notes due 2040?

The trading symbol for Baker Hughes' 5.125% Senior Notes due 2040 is BKR40.

In which state was Baker Hughes Company incorporated?

Baker Hughes Company was incorporated in Delaware.

Filing Stats: 4,276 words · 17 min read · ~14 pages · Grade level 15.6 · Accepted 2025-02-04 07:05:30

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 27 Item 1C. Cybersecurity 27 Item 2.

Properties

Properties 30 Item 3.

Legal Proceedings

Legal Proceedings 30 Item 4. Mine Safety Disclosures 30 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31 Item 6. [Reserved] 32 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Management's Report on Internal Control Over Financial Reporting 51 Report of Independent Registered Public Accounting Firm 52 Consolidated Statements of Income (Loss) 55 Consolidated Statements of Comprehensive Income (Loss) 56 Consolidated Statements of Financial Position 57 Consolidated Statements of Changes in Equity 58 Consolidated Statements of Cash Flows 59

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 60 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 97 Item 9A.

Controls and Procedures

Controls and Procedures 97 Item 9B. Other Information 97 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 97 Part III Item 10. Directors, Executive Officers and Corporate Governance 98 Item 11.

Executive Compensation

Executive Compensation 98 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98 Item 13. Certain Relationships and Related Transactions, and Director Independence 99 Item 14. Principal Accounting Fees and Services 99 Part IV Item 15. Exhibits and Financial Statement Schedules 100 Item 16. Form 10-K Summary 102

Signatures

Signatures 103 Baker Hughes Company 2024 Form 10-K | i PART I

BUSINESS

ITEM 1. BUSINESS Baker 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. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward. OUR VISION & STRATEGY With our diverse portfolio, leading technology, and unique partnership models, we are positioned to deliver outcome-based solutions across the energy and industrial markets. By integrating health, safety & environment ("HSE") into everything we do, we protect our people, our customers, and the environment. The oil and gas macroeconomic environment continues to be complex. While we believe the world will need hydrocarbons for many decades to come - and therefore oil and gas will continue to remain relevant in meeting global energy demand - we also acknowledge the need to transition to new energy sources. Over the last several years, this transition has progressed, with governments and society focused on a long-term goal of net-zero emissions while trying to balance the "energy trilemma" - energy security, sustainability, and affordability. There is a growing consensus the energy transition will likely take longer than many expected due to its inherent complexity overcoming technology, economics, politics, and regulatory challenges. We believe the industry is going through a transformation that requires a change in how work gets done to enable sustainable energy development. Our existing and new customers require new partnerships, commercial models and technology solutions to deliver sustainable productivity improvements and leverage economies of scale, with a lower carbon footprint. That is why our strategy is focused on improving our core competitiveness and delivering higher-productivity solutions today, while positioning to lead the energy transition and solving th

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