| Schedule of Financial Information |
Summarized financial information for the Company's segments is shown in the following tables. | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | | OFSE | IET | Total | | | | Revenue | $ | 3,237 | | $ | 3,350 | | $ | 6,587 | | | | | Cost of goods and services sold | (2,691) | | (2,382) | | (5,073) | | | | | Research and development costs | (54) | | (79) | | (133) | | | | | Selling, general and administrative | (204) | | (284) | | (488) | | | | | Other income (expense) | (1) | | 4 | | 3 | | | | | Add: Depreciation and amortization | 278 | | 69 | | 347 | | | | | | Segment EBITDA | $ | 565 | | $ | 678 | | $ | 1,243 | | | | |
| | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | | OFSE | IET | Total | | | | Revenue | $ | 3,499 | | $ | 2,928 | | $ | 6,427 | | | | | Cost of goods and services sold | (2,819) | | (2,112) | | (4,931) | | | | | Research and development costs | (61) | | (84) | | (146) | | | | | Selling, general and administrative | (221) | | (284) | | (505) | | | | | | | | | | | | Add: Depreciation and amortization | 226 | | 53 | | 279 | | | | | Segment EBITDA | $ | 623 | | $ | 501 | | $ | 1,124 | | | | |
| | | | | | | | | | | Reconciliation of segment EBITDA to Net Income Attributable to Baker Hughes Company: | Three Months Ended March 31, | | | 2026 | 2025 | | | | OFSE | $ | 565 | | $ | 623 | | | | IET | 678 | | 501 | | | | Total segment | 1,243 | | 1,124 | | | | Corporate costs (1) | (74) | | (85) | | | | Restructuring | (37) | | — | | | | | | | | | Inventory impairment | (2) | | — | | | | Other income (expense), net (2) | 584 | | (141) | | | | Depreciation and amortization | (354) | | (285) | | | | | Interest expense, net | (86) | | (51) | | | | Income before income taxes | 1,274 | | 561 | | | | | Provision for income taxes | (336) | | (152) | | | | Net income | 938 | | 409 | | | | | Less: Net income attributable to noncontrolling interests | 8 | | 7 | | | | Net income attributable to Baker Hughes Company | $ | 930 | | $ | 402 | | | |
(1)Corporate costs are primarily reported in "Selling, general and administrative" in the condensed consolidated statements of income and exclude $7 million and $6 million of depreciation and amortization for the three months ended March 31, 2026 and 2025, respectively. (2)Other income (expense), net excludes immaterial amounts recorded within Segment EBITDA and corporate costs for the three months ended March 31, 2026 and 2025. See "Note 18. Other (Income) Expense, Net" for further information. The following table presents total assets: | | | | | | | | | Assets | March 31, 2026 | December 31, 2025 | OFSE | $ | 18,632 | | $ | 18,744 | | IET | 14,337 | | 14,934 | | Total segment | 32,969 | | 33,678 | | Corporate and eliminations (1) | 17,927 | | 7,203 | | | Total | $ | 50,896 | | $ | 40,881 | |
(1)The assets reported in Corporate and eliminations consist primarily of the Baker Hughes trade name, cash, and tax assets. It also includes adjustments to eliminate intercompany investments and receivables reflected within the total assets of each of the reportable segments. The following table presents depreciation and amortization: | | | | | | | | | | | | Three Months Ended March 31, | | | Depreciation and amortization | 2026 | 2025 | | | OFSE | $ | 278 | | $ | 226 | | | | IET | 69 | | 53 | | | | | Total segment | 347 | | 279 | | | | | Corporate | 7 | | 6 | | | | | Total | $ | 354 | | $ | 285 | | | |
The following table presents capital expenditures: | | | | | | | | | | | | Three Months Ended March 31, | | Capital expenditures | 2026 | 2025 | | | OFSE | $ | 218 | | $ | 201 | | | | IET | 104 | | 85 | | | | | Total segment | 322 | | 286 | | | | | Corporate | 14 | | 14 | | | | | Total | $ | 336 | | $ | 300 | | | |
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