BAKER HUGHES HOLDINGS LLC Financial Statements (2024 and earlier)
Company Profile
| Business Address |
575 NORTH DAIRY ASHFORD ROAD, SUITE 100 HOUSTON, TX 77079-1121 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3533 - Oil and Gas Field Machinery and Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 748 | 1,033 | 1,502 | 24 | 39 | 7,019 | |||
| Cash and cash equivalents | 7,019 | ||||||||
| Short-term investments | 748 | 1,033 | 1,502 | 24 | 39 | ||||
| Receivables | 5,974 | 5,718 | 5,700 | 6,491 | 6,062 | 6,127 | |||
| Inventory, net of allowances, customer advances and progress billings | 4,587 | 3,979 | 4,421 | 4,608 | 4,620 | 4,590 | |||
| Inventory | 4,587 | 3,979 | 4,421 | 4,608 | 4,620 | 4,590 | |||
| Derivative instruments and hedges, assets | 17 | ||||||||
| Other current assets | 1,559 | 1,582 | 2,280 | 949 | 639 | 872 | |||
| Other undisclosed current assets | 1,720 | 2,810 | 2,623 | 3,221 | 3,638 | ||||
| Total current assets: | 14,605 | 15,122 | 16,526 | 15,293 | 14,998 | 18,608 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 4,538 | 4,877 | 5,358 | 6,240 | 6,228 | 6,959 | |||
| Intangible assets, net (including goodwill) | 9,871 | 9,852 | 10,136 | 25,777 | 26,142 | 26,012 | |||
| Goodwill | 5,691 | 5,721 | 5,739 | 20,396 | 20,423 | 19,654 | |||
| Intangible assets, net (excluding goodwill) | 4,180 | 4,131 | 4,397 | 5,381 | 5,719 | 6,358 | |||
| Contract with customer, asset, after allowance for credit loss | 1,347 | 1,414 | 1,820 | 1,700 | 1,694 | ✕ | |||
| Deferred costs | 125 | 156 | 138 | 130 | 179 | ||||
| Deferred income tax assets | 657 | 735 | 953 | 964 | ✕ | ✕ | |||
| Other noncurrent assets | 2,998 | 3,102 | 2,955 | 3,058 | 1,900 | 2,080 | |||
| Costs in excess of billings | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2,407 | ||
| Other undisclosed noncurrent assets | 31 | 28 | 43 | 51 | 1,093 | 820 | |||
| Total noncurrent assets: | 19,567 | 20,164 | 21,403 | 37,920 | 37,236 | 38,278 | |||
| TOTAL ASSETS: | 34,172 | 35,286 | 37,929 | 53,213 | 52,234 | 56,886 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 4,298 | 3,745 | 3,532 | 4,268 | 4,018 | 3,377 | |||
| Accounts payable | 4,298 | 3,745 | 3,532 | 4,268 | 4,018 | 3,377 | |||
| Deferred revenue | 3,822 | 3,232 | 3,454 | 2,870 | ✕ | ✕ | |||
| Debt | 677 | 40 | 889 | 321 | 942 | 2,037 | |||
| Other liabilities | 2,235 | 2,163 | 2,431 | 2,535 | 2,276 | 2,110 | |||
| Customer advances and deposits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,381 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 1,765 | ✕ | ||
| Total current liabilities: | 11,032 | 9,180 | 10,306 | 9,994 | 9,001 | 8,905 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 5,980 | 6,687 | 6,744 | 6,301 | 6,285 | 6,312 | |||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | 103 | 87 | ||
| Other undisclosed long-term debt and lease obligation | 5,980 | 6,063 | 6,153 | 5,660 | 6,182 | 6,225 | |||
| Liabilities, other than long-term debt | 2,501 | 2,693 | 2,716 | 2,504 | 2,072 | 2,511 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 94 | 367 | ||
| Deferred income tax liabilities | 135 | 73 | 108 | ✕ | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 960 | 1,110 | 1,217 | 1,079 | 1,018 | 1,172 | |||
| Other liabilities | 1,406 | 1,510 | 1,391 | 1,425 | 960 | 972 | |||
| Operating lease, liability | 624 | 591 | 641 | ✕ | ✕ | ||||
| Total noncurrent liabilities: | 8,481 | 9,380 | 9,460 | 8,805 | 8,357 | 8,823 | |||
| Total liabilities: | 19,513 | 18,560 | 19,766 | 18,799 | 17,358 | 17,728 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 14,528 | 16,587 | 18,031 | 34,299 | 34,766 | 39,018 | |||
| Additional paid in capital | 36,998 | ||||||||
| Accumulated other comprehensive loss | (2,971) | (2,691) | (2,542) | (2,589) | (2,462) | (1,874) | |||
| Accumulated deficit | (16,837) | (16,311) | (15,939) | (110) | (354) | (459) | |||
| Other undisclosed equity, attributable to parent | 34,336 | 35,589 | 36,512 | 37,582 | 41,351 | ||||
| Equity, attributable to noncontrolling interest | 131 | 139 | 132 | 115 | 110 | 140 | |||
| Total equity: | 14,659 | 16,726 | 18,163 | 34,414 | 34,876 | 39,158 | |||
| TOTAL LIABILITIES AND EQUITY: | 34,172 | 35,286 | 37,929 | 53,213 | 52,234 | 56,886 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 21,156 | 20,502 | 20,705 | 23,838 | 22,877 | 17,259 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 17,259 | |
| Cost of revenue | (31) | (246) | (19,590) | (19,044) | (14,419) | |||
| Cost of goods and services sold | (31) | (246) | (105) | (14,203) | ||||
| Other undisclosed gross profit | 184 | 153 | 373 | |||||
| Gross profit: | 21,125 | 20,502 | 20,459 | 4,432 | 3,986 | 3,213 | ||
| Operating expenses | (19,971) | (19,192) | (36,627) | (3,174) | (3,132) | (2,947) | ||
| Other undisclosed operating income (loss) | 31 | 246 | (184) | (153) | (373) | |||
| Operating income (loss): | 1,185 | 1,310 | (15,922) | 1,074 | 701 | (107) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (881) | (583) | 1,040 | (84) | 202 | 78 | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (264) | (237) | (223) | (131) | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 304 | 727 | (15,146) | 753 | 680 | (160) | ||
| Loss from equity method investments | (139) | (11) | ||||||
| Other undisclosed loss from continuing operations before income taxes | (252) | (299) | ||||||
| Income (loss) from continuing operations before income taxes: | 52 | 428 | (15,146) | 753 | 541 | (171) | ||
| Income tax expense | (554) | (772) | (650) | (476) | (402) | (172) | ||
| Income (loss) from continuing operations: | (502) | (344) | (15,796) | 277 | 139 | (343) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | (344) | (15,796) | 277 | 139 | (343) | |
| Net income (loss): | (502) | (344) | (15,796) | 277 | 139 | (343) | ||
| Net loss attributable to noncontrolling interest | (24) | (28) | (29) | (36) | (19) | (7) | ||
| Net income (loss) available to common stockholders, diluted: | (526) | (372) | (15,825) | 241 | 120 | (350) | ||
Comprehensive Income ($ in millions)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (502) | (344) | (15,796) | 277 | 139 | (343) | ||
| Other comprehensive income (loss) | (281) | (151) | 44 | (8) | (573) | 68 | ||
| Comprehensive income (loss): | (783) | (495) | (15,752) | 269 | (434) | (275) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (23) | (26) | (26) | (36) | (19) | (10) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (806) | (521) | (15,778) | 233 | (453) | (285) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.