Baker Hughes Co
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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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.
FY2025 · Filed Feb 5, 2026
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) | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net income | $2,624 | $3,008 | $1,970 |
| Adjustments to reconcile net income to net cash flows from operating activities: | |||
| Depreciation and amortization | 1,188 | 1,136 | 1,087 |
| Benefit for deferred income taxes | (702) | (671) | (59) |
| Change in fair value of equity securities | 103 | (367) | (555) |
| Stock-based compensation cost | 203 | 202 | 197 |
| (Gain) loss on business dispositions | — | — | (40) |
| Changes in operating assets and liabilities: | |||
| Current receivables | 358 | (159) | (986) |
| Inventories | 79 | (102) | (461) |
| Accounts payable | 11 | 91 | 61 |
| Progress collections and deferred income | (58) | 273 | 1,639 |
| Contract and other deferred assets | 323 | (96) | (211) |
| Other operating items, net | (319) | 17 | 420 |
| Net cash flows provided by operating activities | 3,810 | 3,332 | 3,062 |
| Cash flows from investing activities: | |||
| Expenditures for capital assets | (1,273) | (1,278) | (1,224) |
| Proceeds from disposal of assets | 195 | 203 | 208 |
| Proceeds from sale of equity securities | 1 | 92 | 372 |
| Proceeds from business dispositions | — | — | 293 |
| Net cash paid for acquisitions | (830) | — | (301) |
| Other investing items, net | (137) | (33) | (165) |
| Net cash flows used in investing activities | (2,044) | (1,016) | (817) |
| Cash flows from financing activities: | |||
| Repayment of long-term debt | — | (143) | (651) |
| Dividends paid | (910) | (836) | (786) |
| Repurchase of Class A common stock | (384) | (484) | (538) |
| Other financing items, net | (188) | (64) | (53) |
| Net cash flows used in financing activities | (1,482) | (1,527) | (2,028) |
| Effect of currency exchange rate changes on cash and cash equivalents | 67 | (71) | (59) |
| Increase in cash and cash equivalents | 351 | 718 | 158 |
| Cash and cash equivalents, beginning of period | 3,364 | 2,646 | 2,488 |
| Cash and cash equivalents, end of period | $3,715 | $3,364 | $2,646 |
| Supplemental cash flows disclosures: | |||
| Income taxes paid, net of refunds | $1,156 | $1,040 | $595 |
| Interest paid | $294 | $298 | $309 |
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