Baker Hughes Co
For the period ended Dec 31, 2023. Filed Feb 5, 2024.
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FY2023 · Filed Feb 5, 2024
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Consolidated Statements of Income (Loss)
| Year Ended December 31, | |||
|---|---|---|---|
| (In millions, except per share amounts) | 2023 | 2022 | 2021 |
| Revenue: | |||
| Sales of goods | $15,617 | $12,236 | $12,248 |
| Sales of services | 9,889 | 8,920 | 8,254 |
| Total revenue | 25,506 | 21,156 | 20,502 |
| Costs and expenses: | |||
| Cost of goods sold | 13,309 | 10,445 | 10,458 |
| Cost of services sold | 6,946 | 6,311 | 5,995 |
| Selling, general and administrative | 2,611 | 2,510 | 2,470 |
| Restructuring, impairment and other | 323 | 705 | 269 |
| Total costs and expenses | 23,189 | 19,971 | 19,192 |
| Operating income | 2,317 | 1,185 | 1,310 |
| Other non-operating income (loss), net | 554 | (911) | (583) |
| Interest expense, net | (216) | (252) | (299) |
| Income before income taxes | 2,655 | 22 | 428 |
| Provision for income taxes | (685) | (600) | (758) |
| Net income (loss) | 1,970 | (578) | (330) |
| Less: Net income (loss) attributable to noncontrolling interests | 27 | 23 | (111) |
| Net income (loss) attributable to Baker Hughes Company | $1,943 | $(601) | $(219) |
| Per share amounts: | |||
| Basic income (loss) per Class A common share | $1.93 | $(0.61) | $(0.27) |
| Diluted income (loss) per Class A common share | $1.91 | $(0.61) | $(0.27) |
| Cash dividend per Class A common share | $0.78 | $0.73 | $0.72 |
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