Baker Hughes Co
For the period ended Dec 31, 2023. Filed Feb 5, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 5, 2024
BKR$47.77-1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2023 | 2022 | 2021 |
| Cash flows from operating activities: | |||
| Net income (loss) | $1,970 | $(578) | $(330) |
| Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
| Depreciation and amortization | 1,087 | 1,061 | 1,105 |
| (Gain) loss on business dispositions | (40) | 451 | — |
| (Gain) loss on equity securities | (555) | 265 | 845 |
| Stock-based compensation cost | 197 | 207 | 205 |
| Property, plant and equipment impairment, net | (1) | 166 | 7 |
| (Benefit) provision for deferred income taxes | (59) | 105 | 133 |
| Inventory impairment | 35 | 31 | — |
| Changes in operating assets and liabilities: | |||
| Current receivables | (986) | (625) | (126) |
| Inventories | (461) | (885) | 170 |
| Accounts payable | 61 | 605 | 246 |
| Progress collections and deferred income | 1,639 | 1,103 | (72) |
| Contract and other deferred assets | (211) | (76) | 262 |
| Other operating items, net | 386 | 58 | (71) |
| Net cash flows from operating activities | 3,062 | 1,888 | 2,374 |
| Cash flows from investing activities: | |||
| Expenditures for capital assets | (1,224) | (989) | (856) |
| Proceeds from disposal of assets | 208 | 217 | 315 |
| Proceeds from sale of equity securities | 372 | 26 | 147 |
| Proceeds from business dispositions | 293 | — | 70 |
| Net cash paid for acquisitions | (301) | (767) | (87) |
| Other investing items, net | (165) | (51) | (52) |
| Net cash flows used in investing activities | (817) | (1,564) | (463) |
| Cash flows from financing activities: | |||
| Repayment of long-term debt | (651) | — | (1,313) |
| Proceeds from the issuance of long-term debt | — | — | 1,250 |
| Repayment of commercial paper | — | — | (832) |
| Dividends paid | (786) | (726) | (592) |
| Repurchase of Class A common stock | (538) | (828) | (434) |
| Distributions to GE | — | (17) | (157) |
| Other financing items, net | (53) | (21) | (65) |
| Net cash flows used in financing activities | (2,028) | (1,592) | (2,143) |
| Effect of currency exchange rate changes on cash and cash equivalents | (59) | (97) | (47) |
| Increase (decrease) in cash and cash equivalents | 158 | (1,365) | (279) |
| Cash and cash equivalents, beginning of period | 2,488 | 3,853 | 4,132 |
| Cash and cash equivalents, end of period | $2,646 | $2,488 | $3,853 |
See "Note 22. Supplementary Information" for additional cash flow disclosures
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