BAKER HUGHES CO, 10-K filed on 2/5/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2025
Jan. 27, 2026
Jun. 30, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 1-38143    
Entity Registrant Name Baker Hughes Company    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 81-4403168    
Entity Address, Address Line One 575 N. Dairy Ashford Rd.,    
Entity Address, Address Line Two Suite 100    
Entity Address, City or Town Houston,    
Entity Address, State or Province TX    
Entity Address, Postal Zip Code 77079-1121    
City Area Code 713    
Local Phone Number 439-8600    
Title of 12(b) Security Class A Common Stock, $0.0001 Par Value per Share    
Trading Symbol BKR    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 37,733,037,083
Entity Common Stock, Shares Outstanding   988,236,510  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Portions of Registrant's Definitive Proxy Statement for the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
    
Entity Central Index Key 0001701605    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
5.125% Senior Notes due 2040 of Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc.      
Document Information [Line Items]      
Title of 12(b) Security 5.125% Senior Notes due 2040 of Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc.    
Trading Symbol BKR40    
Security Exchange Name NASDAQ    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Houston, Texas
Auditor Firm ID 185
v3.25.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Total revenue $ 27,733 $ 27,829 $ 25,506
Costs and expenses:      
Selling, general and administrative 2,387 2,458 2,611
Research and development costs 600 643 651
Restructuring 215 260 313
Other (income) expense, net 243 (341) (544)
Interest expense, net 222 198 216
Income before income taxes 2,877 3,265 2,655
Provision for income taxes (253) (257) (685)
Net income 2,624 3,008 1,970
Less: Net income attributable to noncontrolling interests 36 29 27
Net income attributable to Baker Hughes Company $ 2,588 $ 2,979 $ 1,943
Class A Common Stock      
Per share amounts:      
Basic income per Class A common share (in dollars per share) $ 2.62 $ 3.00 $ 1.93
Diluted income per Class A common share (in dollars per share) 2.60 2.98 1.91
Cash dividend per Class A common share (in dollars per share) $ 0.92 $ 0.84 $ 0.78
Sales of goods      
Revenue:      
Total revenue $ 18,216 $ 17,810 $ 15,617
Costs and expenses:      
Cost 14,388 14,291 12,801
Sales of services      
Revenue:      
Total revenue 9,517 10,019 9,889
Costs and expenses:      
Cost $ 6,801 $ 7,055 $ 6,803
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 2,624 $ 3,008 $ 1,970
Less: Net income attributable to noncontrolling interests 36 29 27
Net income attributable to Baker Hughes Company 2,588 2,979 1,943
Other comprehensive income (loss):      
Foreign currency translation adjustments 528 (350) 153
Cash flow hedges 10 (1) 3
Benefit plans (28) (14) 19
Other comprehensive income (loss) 510 (365) 175
Less: Other comprehensive income attributable to noncontrolling interests 1 0 0
Other comprehensive income (loss) attributable to Baker Hughes Company 509 (365) 175
Comprehensive income 3,134 2,643 2,145
Less: Comprehensive income attributable to noncontrolling interests 37 29 27
Comprehensive income attributable to Baker Hughes Company $ 3,097 $ 2,614 $ 2,118
v3.25.4
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 3,715 $ 3,364
Current receivables, net 6,641 7,122
Inventories, net 4,954 4,954
All other current assets 3,518 1,771
Total current assets 18,828 17,211
Property, plant and equipment, less accumulated depreciation 5,326 5,127
Goodwill 6,068 6,078
Other intangible assets, net 4,097 3,951
Contract and other deferred assets 1,620 1,730
Deferred income tax assets 1,957 1,284
All other assets 2,985 2,982
Total assets 40,881 38,363
Current Liabilities:    
Accounts payable 4,579 4,542
Short-term and current portion of long-term debt 689 53
Progress collections and deferred income 5,904 5,672
All other current liabilities 2,705 2,724
Total current liabilities 13,877 12,991
Long-term debt 5,398 5,970
Liabilities for pensions and other postretirement benefits 1,066 988
Deferred income tax liabilities 84 83
All other liabilities 1,446 1,276
Equity:    
Capital in excess of par value 24,738 25,896
Retained loss (3,252) (5,840)
Accumulated other comprehensive loss (2,652) (3,161)
Baker Hughes Company equity 18,834 16,895
Noncontrolling interests 176 160
Total equity 19,010 17,055
Total liabilities and equity 40,881 38,363
Class A Common Stock    
Equity:    
Class A common stock, $0.0001 par value - 2,000 authorized, 987 and 990 issued and outstanding as of December 31, 2025 and 2024, respectively $ 0 $ 0
v3.25.4
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Common stock par value (in dollars per share) $ 0.0001  
Class A Common Stock    
Common stock par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock authorized (in shares) 2,000,000,000 2,000,000,000
Common stock issued (in shares) 987,000,000 990,000,000
Common stock outstanding (in shares) 986,815,000 989,646,000
v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Common Stock
Capital in Excess of Par Value
Retained Earnings (Loss)
Accumulated Other Comprehensive Loss
Non-controlling Interests
Beginning balance at Dec. 31, 2022 $ 14,525 $ 0 $ 28,126 $ (10,761) $ (2,971) $ 131
Comprehensive income (loss):            
Net income 1,970     1,943   27
Other comprehensive income (loss) 175       175
Dividends on Class A Common Stock (786)   (786)      
Repurchase and cancellation of Class A common stock (538)   (538)  
Stock-based compensation cost 197   197      
Other (24)   (16) (1)   (7)
Ending balance at Dec. 31, 2023 15,519 0 26,983 (8,819) (2,796) 151
Comprehensive income (loss):            
Net income 3,008     2,979   29
Other comprehensive income (loss) (365)       (365)  
Dividends on Class A Common Stock (836)   (836)      
Repurchase and cancellation of Class A common stock (484)   (484)      
Stock-based compensation cost 202   202      
Other 11   31   (20)
Ending balance at Dec. 31, 2024 17,055 0 25,896 (5,840) (3,161) 160
Comprehensive income (loss):            
Net income 2,624     2,588   36
Other comprehensive income (loss) 510       509 1
Dividends on Class A Common Stock (910)   (910)      
Repurchase and cancellation of Class A common stock (384)   (384)      
Stock-based compensation cost 203   203      
Other (88)   (67)     (21)
Ending balance at Dec. 31, 2025 $ 19,010 $ 0 $ 24,738 $ (3,252) $ (2,652) $ 176
v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class A Common Stock      
Dividends on Class A common stock (in dollars per share) $ 0.92 $ 0.84 $ 0.78
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 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 0 0 (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 0 0 293
Net cash paid for acquisitions (830) 0 (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 0 (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
v3.25.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
DESCRIPTION OF THE BUSINESS
Baker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain.
BASIS OF PRESENTATION
The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S." and such principles, "U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for annual financial information. The consolidated financial statements include the accounts of Baker Hughes and all of its subsidiaries and affiliates it controls or variable interest entities for which the Company has determined it is the primary beneficiary. All intercompany accounts and transactions have been eliminated.
In the Company's consolidated financial statements and notes, certain amounts have been reclassified to conform with the current year presentation. In the notes to the consolidated financial statements, all dollar and share amounts in tabulations are in millions of dollars and shares, respectively, unless otherwise indicated. Certain columns and rows in the financial statements and notes thereto may not add due to the use of rounded numbers.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of any contingent assets or liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company bases its estimates and judgments on historical experience and on various other assumptions and information that it believes to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty, and accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained, and as the Company's operating environment changes. While the Company believes that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Estimates are used for, but are not limited to, determining the following: allowance for credit losses and inventory valuation reserves; recoverability of long-lived assets and certain equity investments; revenue recognition on long-term contracts; valuation of goodwill; useful lives used in depreciation and amortization; income taxes and related valuation allowances; accruals for contingencies; actuarial assumptions to determine costs and liabilities related to employee benefit plans; stock-based compensation expense; valuation of derivatives; and the fair value of assets acquired and liabilities assumed in acquisitions.
Foreign Currency
Assets and liabilities of non-U.S. operations with a functional currency other than the U.S. dollar have been translated into U.S. dollars using the Company's period-end exchange rates, and revenue, expenses, and cash flows have been translated at average rates for the respective periods. Any resulting translation gains and losses are included in other comprehensive income. The impact of remeasurement of monetary assets and liabilities denominated in currencies other than the functional currency of the Company or its subsidiaries is included in the consolidated statements of income.
Revenue from Sale of Equipment
Performance Obligations Satisfied Over Time
The Company recognizes revenue on agreements for sales of equipment manufactured to unique customer specifications, including long-term construction projects, on an over time basis, utilizing cost inputs as the
measurement criteria in assessing the progress toward completion. The Company's estimate of costs to be incurred to fulfill its promise to a customer is based on the Company's history of manufacturing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. The Company begins to recognize revenue on these contracts when the contract-specific inventory becomes customized for a customer, which is reflective of its initial transfer of control of the incurred costs. The Company provides for potential losses on any of these agreements when it is probable that it will incur the loss.
The Company's billing terms for these over time contracts vary, but are generally based on achieving specified milestones. The differences between the timing of the Company's revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to its contract asset or contract liability positions.
Performance Obligations Satisfied at a Point In Time
The Company recognizes revenue for non-customized equipment at the point in time that the customer obtains control of the good. Equipment for which the Company recognizes revenue at a point in time includes equipment manufactured on a standardized basis for sale to the market. The Company uses proof of delivery for certain large equipment with more complex logistics associated with the shipment, whereas the delivery of other equipment is generally determined based on historical data of transit times between regions.
On occasion the Company sells equipment with a right of return. The Company uses its accumulated experience to estimate and provide for such returns when it records the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, the Company recognizes revenue when it has concluded that the customer has control of the equipment and that acceptance has or is likely to occur.
The Company's billing terms for these point in time equipment contracts vary, but are generally based on shipment of the equipment to the customer.
Revenue from Sale of Services
Performance Obligations Satisfied Over Time
The Company sells product services under long-term product maintenance or extended warranty agreements in the Industrial & Energy Technology ("IET") segment. These agreements require the Company to maintain the customers' assets over the service agreement contract terms, which generally range from 10 to 20 years. In general, these are contractual arrangements to provide services, repairs, and maintenance of a covered unit (gas turbines for mechanical drive or power generation, primarily on liquefied natural gas ("LNG") applications). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on an other than straight-line basis. The Company recognizes related sales based on the extent of its progress toward completion measured by actual costs incurred in relation to total expected costs. The Company provides for any loss that it expects to incur on any of these agreements when that loss becomes probable. The Company utilizes historical customer data, prior product performance data, statistical analysis, third-party data, and internal management estimates to calculate contract-specific margins. In certain contracts, the total transaction price is variable based on customer utilization, which is excluded from the contract margin until the period in which the customer has utilized the services to appropriately reflect the revenue activity in the period earned. In addition, revenue for certain oilfield services is recognized on an over time basis as performed.
The Company's billing terms for these contracts are generally based on asset utilization (i.e. usage per hour) or the occurrence of a major maintenance event within the contract. The differences between the timing of the Company's revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to its contract asset or contract liability positions.
Performance Obligations Satisfied at a Point In Time
The Company sells certain tangible products, largely spare equipment, through its services business. The Company recognizes revenue for this equipment at the point in time that the customer obtains control of the good, which is at the point in time the Company delivers the spare part to the customer. The Company's billing terms for these point in time service contracts vary, but are generally based on shipment of the equipment to the customer.
Research and Development
Research and development costs are expensed as incurred and relate to the research and development of new products and services. Research and development costs were $600 million, $643 million, and $651 million for the years ended December 31, 2025, 2024, and 2023, respectively, net of related funding received from third parties.
Cash and Cash Equivalents
Short-term investments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities.
Allowance for Credit Losses
The Company monitors its customers' payment history and current creditworthiness to determine that collectability of the related financial assets is reasonably assured. The Company also considers the overall business climate in which its customers operate. The Company does not generally require collateral in support of its current receivables, but it may require payment in advance or security in the form of a letter of credit or a bank guarantee. For accounts receivable, a loss allowance matrix is utilized to measure lifetime expected credit losses. The matrix contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations.
Inventories
All inventories are stated at the lower of cost or net realizable values and they are measured on a first-in, first-out ("FIFO") basis or average cost basis. As necessary, the Company records provisions and maintains reserves for excess, slow moving, and obsolete inventory. To determine these reserve amounts, the Company regularly reviews inventory quantities on hand and compares them to estimates of future product demand, market conditions, production requirements, and technological developments.
Property, Plant and Equipment
Property, plant and equipment ("PP&E") is initially stated at cost and is depreciated over its estimated economic life. Subsequently, PP&E is measured at cost less accumulated depreciation, which is generally provided by using the straight-line method over the estimated economic lives of the individual assets, and impairment losses. The Company manufactures a substantial portion of its tools and equipment in the Oilfield Services & Equipment ("OFSE") segment and the cost of these items, which includes direct and indirect manufacturing costs, is capitalized in inventory and subsequently moved to PP&E.
Goodwill and Other Long-Lived Assets
The Company performs an annual impairment test of goodwill on a qualitative or quantitative basis for each of its reporting units as of July 1, in conjunction with its annual strategic planning process, or more frequently when circumstances indicate an impairment may exist at the reporting unit level. When performing the annual impairment test, the Company has the option of first performing a qualitative assessment to determine the existence of events and circumstances that would lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If such a conclusion is reached, the Company would then be required to perform a quantitative impairment assessment of goodwill. However, if the assessment leads to a determination that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then no further assessments are required. A quantitative assessment for the determination of impairment is made by comparing the
carrying amount of each reporting unit with its fair value, which is generally calculated using a combination of market, comparable transactions, and discounted cash flow approaches. Potential impairment indicators include, but are not limited to, (i) the results of the Company's most recent annual or interim impairment testing, in particular the magnitude of the excess of fair value over carrying value observed; (ii) downward revisions to internal forecasts, and the magnitude thereof, if any; and (iii) declines in the Company's market capitalization below its book value, and the magnitude and duration of those declines, if any.
The Company amortizes the cost of other intangible assets over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life.
The Company reviews PP&E, intangible assets, and certain other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, and at least annually for indefinite-lived intangible assets. When testing for impairment, the Company groups its long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of recoverability is made based upon the estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related assets.
Leases
The Company enters into various contractual arrangements for the right to use facilities and equipment. At contract inception, management evaluates whether each of these arrangements contains a lease and classifies all identified leases as either operating or finance. If the arrangement is subsequently modified, the classification is re-evaluated. Upon commencement of the lease, management recognizes a lease liability and corresponding right-of-use ("ROU") asset. Lease assets are tested for impairment in the same manner as other long-lived assets.
Financial Instruments
The Company's financial instruments include cash and equivalents, current receivables, investments, accounts payables, short and long-term debt, and derivative financial instruments.
The Company monitors its exposure to various business risks including commodity prices, interest rates, and foreign currency exchange rates, and it regularly uses derivative financial instruments to manage these risks. At the inception of a new derivative, the Company designates the derivative as a hedge, or it determines the derivative to be undesignated as a hedging instrument. The Company documents the relationships between the hedging instruments and the hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company assesses whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged item at both the inception of the hedge and on an ongoing basis.
The Company records all derivatives as of the end of its reporting period in the consolidated statements of financial position at fair value. For the forward contracts held as undesignated hedging instruments, the Company records the changes in fair value in the consolidated statements of income along with the change in the fair value, related to foreign exchange movements, of the hedged item. Changes in the fair value of forward contracts designated as cash flow hedging instruments are recognized in other comprehensive income until the hedged item is recognized in earnings.
Fair Value Measurements
For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date.
Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. Preference is given to observable inputs and the Company maintains policies and procedures to identify, monitor and assess the reasonableness of these inputs to the valuation. These two types of inputs create the following fair value hierarchy:
•Level 1 - Quoted prices for identical instruments in active markets.
•Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
•Level 3 - Significant inputs to the valuation model are unobservable.
Recurring Fair Value Measurements
Derivatives
When the Company has Level 1 derivatives, which are traded either on exchanges or liquid markets, the Company uses closing prices for valuation. The majority of the Company's derivatives are valued using internal models and are included in Level 2. These internal models maximize the use of market observable inputs, including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent foreign currency and commodity forward contracts for the Company.
Investments in Debt and Equity Securities
When available, the Company uses quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities.
For investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), the Company uses pricing models and observable inputs that are consistent with what other market participants would use, and these are included in Level 2. The inputs and assumptions to the models are derived from market observable sources, including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. When the Company uses valuations that are based on significant unobservable inputs, it classifies the investment securities in Level 3.
Non-Recurring Fair Value Measurements
Certain assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments only in certain circumstances. These assets can include long-lived assets that have been reduced to fair value when they are held for sale, equity securities without readily determinable fair value, and equity method investments and long-lived assets that are written down to fair value when they are impaired.
Investments in Equity Securities
Investments in equity securities (in which the Company does not have a controlling financial interest or significant influence, most often because it holds a voting interest of 0% to 20%) with readily determinable fair values, are measured at fair value with changes recognized in earnings and reported in "Other (income) expense, net" in the consolidated statements of income. Equity securities that do not have readily determinable fair values are recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar equity securities of the same issuer. These changes are recorded in "Other (income) expense, net" in the consolidated statements of income.
Equity method investments are equity holdings in entities in which the Company does not have a controlling financial interest, but over which it has significant influence, most often because it holds a voting interest of 20% to 50%. At December 31, 2025 and 2024, the aggregate carrying amount of the Company's equity method investments
was $1,117 million and $1,080 million, respectively. The results of the Company's equity method investments are presented in the consolidated statements of income as follows: (i) if the investment is integral to the Company's operations, their results are included in Cost of Sales and (ii) if the investment is not integral to the Company's operations, their results are included in "Other (income) expense, net." Investments in, and advances to, equity method investments are presented on a one-line basis in "All other assets" in the consolidated statements of financial position.
Income Taxes
The Company accounts for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and the tax base of assets and liabilities based on enacted tax rates expected to be in effect when taxes are actually paid or recovered, as well as for net operating losses and tax credit carryforwards. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period in which such change is enacted. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes is not more likely than not to be realized.
Significant judgment is required in determining the Company's tax expense and in evaluating its tax positions, including evaluating uncertainties. The Company's tax filings are subject to audit by the tax authorities in the jurisdictions where it conducts business. These audits may result in assessments of additional taxes that are resolved with the tax authorities or through the courts. The Company has provided for the amounts that it believes will ultimately result from these proceedings. The Company recognizes uncertain tax positions that are "more likely than not" to be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, the Company measures the amount of tax benefit based on the largest amount of tax benefit that has a greater than 50% chance of being realized in a final settlement with the relevant authority. The Company classifies interest and penalties associated with uncertain tax positions as income tax expense. The effects of tax adjustments and settlements from taxing authorities are presented in the financial statements in the period they are finalized.
Prior to 2023, Baker Hughes Holdings LLC ("BHH LLC"), the Company's wholly owned primary operating subsidiary, was treated as a partnership for U.S. tax purposes. As a partnership, BHH LLC was not subject to U.S. federal income tax. Effective December 30, 2023, the Company completed a reorganization that resulted in BHH LLC no longer being treated as a partnership for U.S. tax purposes and is now included and taxed as part of the Company's consolidated U.S. tax return.
Supply Chain Finance Programs
Under the supply chain finance ("SCF") programs, administered by a third party, the Company's suppliers are given the opportunity to sell receivables from the Company to participating financial institutions at their sole discretion at a rate that leverages the Company's credit rating and thus might be more beneficial to the Company's suppliers. The Company's responsibility is limited to making payment on the terms originally negotiated with the Company's supplier, regardless of whether the supplier sells its receivable to a financial institution. The range of payment terms the Company negotiates with its suppliers is consistent, irrespective of whether a supplier participates in the program.
As of December 31, 2025 and 2024, $410 million and $411 million of SCF program liabilities are recorded in "Accounts payable" in the consolidated statements of financial position, respectively, and reflected in net cash flows from operating activities in the consolidated statements of cash flows when settled. See "Note 23. Supplementary Information" for further information on the changes in the Company's SCF program liabilities.
NEW ACCOUNTING STANDARDS ADOPTED
The Company has adopted ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"). See "Note 11. Income Taxes" for the enhanced disclosures associated with the adoption of ASU 2023-09. The adoption of this standard did not have an impact on the Company's operating results.
NEW ACCOUNTING STANDARDS TO BE ADOPTED
In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures" ("ASU 2024-03"), which enhances the disclosures required for certain expense captions in the Company's annual and interim consolidated financial statements. ASU 2024-03 is effective prospectively or retrospectively for fiscal years beginning after December 15, 2026 and for interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its disclosures.
In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software" ("ASU 2025-06"). Under the new guidance, internal-use software costs are capitalized when management has authorized and committed to funding the project and it is probable that the software will be completed and used for its intended function. ASU 2025-06 is effective for the Company for annual reporting periods beginning after December 15, 2027, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its accounting for internal-use software.
All other new accounting pronouncements that have been issued, but not yet effective are currently being evaluated and at this time are not expected to have a material impact on the Company's financial position or results of operations.
v3.25.4
CURRENT RECEIVABLES
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
CURRENT RECEIVABLES CURRENT RECEIVABLES
Current receivables consist of the following at December 31:
20252024
Customer receivables$5,558 $5,945 
Other1,360 1,409 
Total current receivables6,918 7,354 
Less: Allowance for credit losses(277)(232)
Total current receivables, net$6,641 $7,122 
Customer receivables are recorded at the invoiced amount. The "Other" category consists primarily of advance payments to suppliers and indirect taxes.
The Company's customer receivables are spread over a broad and diverse group of customers across many countries. As of December 31, 2025, 16% of the Company's gross customer receivables were from customers in the U.S. and 10% were from customers in the United Arab Emirates. As of December 31, 2024, 16% of the Company's gross customer receivables were from customers in the U.S. and 10% were from customers in Mexico. No other country accounted for more than 10% of the Company's gross customer receivables at these dates.
See "Note 23. Supplementary Information" for further information on the changes in the allowance for credit losses.
v3.25.4
INVENTORIES
 12 Months Ended
Dec. 31, 2025
Inventory, Net [Abstract]  
INVENTORIES INVENTORIES
Inventories, net of reserves of $381 million and $390 million in 2025 and 2024, respectively, consist of the following at December 31:
20252024
Finished goods$2,381 $2,494 
Work in process and raw materials2,573 2,460 
Total inventories, net$4,954 $4,954 
For the years ended December 31, 2025 and 2024, the Company recorded inventory impairments of $22 million and $73 million, respectively, primarily in the OFSE segment. See "Note 20. Restructuring" for further information.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following at December 31:
Useful Life20252024
Land and improvements
8 - 10 years (1)
$297 $297 
Buildings, structures and related equipment
5 - 40 years
2,531 2,347 
Machinery, equipment and other
1 - 20 years
9,184 8,539 
Total cost12,012 11,183 
Less: Accumulated depreciation
 (6,686)(6,056)
Property, plant and equipment, less accumulated depreciation
 $5,326 $5,127 
(1)Useful life excludes land.
Depreciation expense relating to property, plant and equipment was $938 million, $870 million, and $830 million for the years ended December 31, 2025, 2024, and 2023, respectively. For the year ended December 31, 2025, $4 million of accelerated depreciation expense was recorded in "Restructuring" in the consolidated statements of income. See "Note 20. Restructuring" for additional information on property, plant and equipment impairments.
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL
The changes in the carrying value of goodwill are detailed below by segment:
Oilfield Services & EquipmentIndustrial & Energy TechnologyTotal
Balance at December 31, 2023, gross
$19,817 $4,850 $24,667 
Accumulated impairment at December 31, 2023
(18,276)(254)(18,530)
Balance at December 31, 2023
1,541 4,596 6,137 
Currency exchange and other
6 (65)(59)
Balance at December 31, 2024
1,547 4,531 6,078 
Acquisitions— 254 254 
Currency exchange and other9 149 158 
Total1,556 4,934 6,490 
Classified as held for sale
— (422)(422)
Balance at December 31, 2025
$1,556 $4,512 $6,068 
As a result of the Company's goodwill impairment assessment performed in the year ended December 31, 2025, there were no goodwill impairments deemed necessary.
During 2025, the Company recorded goodwill of $254 million, of which $229 million related to the acquisition of Continental Disc Corporation ("CDC") in the Industrial & Energy Technology ("IET") segment.
OTHER INTANGIBLE ASSETS
Intangible assets consist of the following at December 31:
20252024
Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer relationships$2,186 $(986)$1,200 $1,921 $(883)$1,038 
Technology1,217 (987)230 1,248 (981)267 
Trade names and trademarks306 (208)98 290 (196)94 
Capitalized software1,636 (1,219)417 1,522 (1,172)350 
Finite-lived intangible assets5,345 (3,400)1,945 4,981 (3,232)1,749 
Indefinite-lived intangible assets2,152 — 2,152 2,202 — 2,202 
Total intangible assets$7,497 $(3,400)$4,097 $7,183 $(3,232)$3,951 
Finite-lived intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from 1 to 35 years. Amortization expense was $250 million, $266 million, and $257 million for the years ended December 31, 2025, 2024, and 2023, respectively. No impairment for indefinite-lived intangible assets was recorded in 2025. During 2025, the Company recorded intangible assets of $269 million, comprised of $227 million for customer relationships, $27 million for technology, $14 million for trademarks, and $1 million for capitalized software, related to the acquisition of CDC in the IET segment.
Estimated amortization expense for each of the subsequent five fiscal years is expected to be as follows:
YearEstimated Amortization Expense
2026$241 
2027220 
2028198 
2029168 
2030142 
v3.25.4
CONTRACT AND OTHER DEFERRED ASSETS
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
CONTRACT AND OTHER DEFERRED ASSETS CONTRACT AND OTHER DEFERRED ASSETS
Contract assets reflect revenue earned in excess of billings on long-term contracts to construct technically complex equipment, and provide long-term product service agreements and extended maintenance agreements and other deferred contract related costs. The Company's long-term product service agreements are provided by the IET segment. The Company's long-term equipment contracts are provided by both the IET and OFSE segments. Contract assets consist of the following at December 31:
20252024
Long-term equipment contracts and other service agreements$1,123 $1,247 
Long-term product service agreements330 346 
Contract assets (total revenue in excess of billings)1,453 1,593 
Deferred inventory costs141 124 
Other costs to fulfill or obtain a contract
26 13 
Contract and other deferred assets$1,620 $1,730 
Revenue recognized during the years ended December 31, 2025 and 2024 from performance obligations satisfied (or partially satisfied) in previous years related to long-term service agreements was $18 million and $(11) million, respectively. This includes revenue recognized from revisions to cost or billing estimates that may affect a contract's total estimated profitability.
v3.25.4
PROGRESS COLLECTIONS AND DEFERRED INCOME
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
PROGRESS COLLECTIONS AND DEFERRED INCOME PROGRESS COLLECTIONS AND DEFERRED INCOME
Contract liabilities include progress collections, which reflect billings in excess of revenue, and deferred income on long-term contracts to construct technically complex equipment and provide long-term product service agreements and extended maintenance arrangements. Contract liabilities consist of the following at December 31:
20252024
Equipment contracts and other service agreements$5,249 $5,047 
Long-term product service agreements507 503 
Progress collections5,756 5,550 
Deferred income148 122 
Progress collections and deferred income (contract liabilities)$5,904 $5,672 
Revenue recognized during the years ended December 31, 2025 and 2024 that was included in the contract liabilities at the beginning of the year was $4,315 million and $4,398 million, respectively.
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS
DISAGGREGATED REVENUE
The Company disaggregates its revenue from contracts with customers by product line for both the OFSE and IET segments, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. In addition, management views revenue from contracts with customers for OFSE by geography based on the location to where the product is shipped or the services are performed.
The series of tables below present the Company's revenue disaggregated by these categories.
Total Revenue202520242023
Well Construction$3,646 $4,145 $4,387 
Completions, Intervention, and Measurements
3,750 4,154 4,170 
Production Solutions3,806 3,860 3,854 
Subsea & Surface Pressure Systems3,122 3,470 2,950 
Oilfield Services & Equipment14,324 15,628 15,361 
Gas Technology Equipment
6,619 5,693 4,232 
Gas Technology Services
3,028 2,797 2,600 
Total Gas Technology9,647 8,490 6,832 
Industrial Products
1,991 2,040 1,962 
Industrial Solutions
1,123 1,065 983 
Controls (1)
— — 41 
Total Industrial Technology3,114 3,105 2,987 
Climate Technology Solutions
647 605 326 
Industrial & Energy Technology13,409 12,201 10,145 
Total$27,733 $27,829 $25,506 
(1)The sale of the Company's controls business was completed in April 2023.
Oilfield Services & Equipment Geographic Revenue202520242023
North America$3,773 $3,955 $4,116 
Latin America2,423 2,609 2,761 
Europe/CIS/Sub-Saharan Africa2,455 3,250 2,655 
Middle East/Asia5,673 5,814 5,829 
Oilfield Services & Equipment$14,324 $15,628 $15,361 
REMAINING PERFORMANCE OBLIGATIONS
As of December 31, 2025, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $35.9 billion. As of December 31, 2025, the Company expects to recognize revenue of approximately 59%, 74%, and 89% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as the Company fulfills the related remaining performance obligations.
v3.25.4
LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
The Company's leasing activities primarily consist of operating leases for service centers, manufacturing facilities, sales and administrative offices, and certain equipment.
The following table presents operating lease expense:
Operating Lease Expense202520242023
Short-term lease$492 $511 $503 
Long-term fixed lease272 292 276 
Long-term variable lease54 76 73 
Total operating lease expense$818 $879 $852 
Cash flows used in operating activities for operating leases approximate lease expense for the years ended December 31, 2025, 2024, and 2023.
As of December 31, 2025, maturities of operating lease liabilities are as follows:
YearOperating Leases
2026$204 
2027130 
202892 
202970 
2030
47 
Thereafter201 
Total lease payments744 
Less: imputed interest129 
Total$615 
Amounts recognized in the consolidated statements of financial position for operating leases consist of the following:
20252024
All other current liabilities$173 $198 
All other liabilities442 475 
Total$615 $673 
Right-of-use assets of $622 million and $678 million as of December 31, 2025 and 2024, respectively, are included in "All other assets" in the consolidated statements of financial position. The weighted-average remaining lease term for the Company's operating leases was approximately seven years for the years ended December 31, 2025 and 2024. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2025 and 2024 was 4.6% and 4.3%, respectively.
v3.25.4
DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
The carrying value of the Company's short-term and long-term debt consists of the following at December 31:
20252024
Amount
Effective Interest
Rate (1)
Amount
Effective Interest
Rate (1)
Short-term and current portion of long-term debt
2.061% Senior Notes due December 2026
$599 2.4 %$— — %
Other debt90 4.5 %53 4.6 %
Total short-term and current portion of long-term debt689 53 
Long-term debt  
2.061% Senior Notes due December 2026
— — %599 2.4 %
3.337% Senior Notes due December 2027
1,324 4.9 %1,302 5.4 %
6.875% Notes due January 2029 (2)
255 4.0 %262 3.9 %
3.138% Senior Notes due November 2029
524 3.2 %523 3.2 %
4.486% Senior Notes due May 2030
498 4.6 %498 4.6 %
5.125% Senior Notes due September 2040 (2)
1,269 4.2 %1,275 4.2 %
4.080% Senior Notes due December 2047
1,338 4.1 %1,338 4.1 %
Other long-term debt190 4.0 %173 4.2 %
Total long-term debt5,398 5,970 
Total debt$6,087 $6,023 
(1)Effective interest rate is based on the carrying value including issuance costs and interest rate swaps.
(2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.
The carrying value of short-term and long-term debt includes issuance costs and changes in fair value of the debt instrument hedged by interest rate swaps. At December 31, 2025 and 2024, these adjustments resulted in a net increase to the carrying value of the Company's debt totaling $102 million and $91 million, respectively. The estimated fair value of total debt at December 31, 2025 and 2024 was $5,628 million and $5,409 million, respectively. For a majority of the Company's debt, the fair value was determined using quoted period-end market prices. Where market prices are not available, the Company estimates fair values based on valuation methodologies using current market interest rate data adjusted for non-performance risk.
Maturities of debt for each of the five years in the period ending December 31, 2030, and in the aggregate thereafter, are listed in the table below:
20262027202820292030Thereafter
Total debt
$689 $1,387 $55 $821 $514 $2,621 
The Company has a $3.0 billion committed unsecured revolving credit facility (the "Credit Agreement") with commercial banks maturing in November 2028. The Credit Agreement contains certain representations and warranties, certain affirmative covenants and negative covenants, in each case considered customary. No related events of default have occurred. The Credit Agreement is fully and unconditionally guaranteed on a senior unsecured basis by Baker Hughes. At December 31, 2025 and 2024, there were no borrowings under the Credit Agreement.
On July 28, 2025, BHH LLC entered into a commitment letter providing for a $14.9 billion senior unsecured 364-day bridge facility (the "Bridge Facility") to finance all or a portion of the Chart Industries, Inc. ("Chart") acquisition. On August 15, 2025, BHH LLC, as borrower, and the Company, as parent guarantor, entered into a $2.6 billion senior unsecured delayed-draw term loan facility (the "DDTL"), which reduced the commitments remaining under the Bridge Facility to $12.3 billion. On November 12, 2025, BHH LLC elected to voluntarily reduce the commitments outstanding under the Bridge Facility to $11.0 billion. Of the total available facilities of $13.6 billion, no amounts were drawn under the Bridge Facility or the DDTL as of December 31, 2025. For the year ended December 31, 2025, the Company incurred $61.2 million in debt financing fees, which were capitalized as prepaid expenses in "All other current assets" in the Company's consolidated statements of financial position and will be recognized as interest expense over the term of the facility.
Baker Hughes Co-Obligor, Inc. is a co-obligor, jointly and severally with BHH LLC, of the Company's long-term debt securities. This co-obligor is a 100% owned finance subsidiary of BHH LLC that was incorporated for the sole purpose of serving as a corporate co-obligor of long-term debt securities and has no assets or operations other than those related to its sole purpose. As of December 31, 2025, Baker Hughes Co-Obligor, Inc. is a co-obligor of certain debt securities totaling $5.8 billion.
Certain Senior Notes contain covenants that restrict the Company's ability to take certain actions, including, but not limited to, the creation of certain liens securing debt, the entry into certain sale-leaseback transactions, and engaging in certain merger, consolidation and asset sale transactions in excess of specified limits. At December 31, 2025, the Company was in compliance with all debt covenants.
v3.25.4
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
DEFINED BENEFIT PLANS
The Company maintains Company sponsored pension plans for certain of its employees. The Company also maintains unfunded end-of-service benefit plans that are mandated in certain countries in which it operates. The Company's primary plans disclosed in 2025 included three U.S. plans and eight non-U.S. plans, primarily in the United Kingdom ("U.K.") and Germany, all with plan assets or obligations greater than $20 million. These defined benefit plans generally provide benefits to employees based on formulas recognizing length of service and earnings; however, the majority of these plans are either frozen or closed to new entrants. The Company also provides certain postretirement health care benefits, through unfunded plans, to a closed group of U.S. employees who retire and meet certain age and service requirements. The accumulated postretirement benefit obligation related to these plans was $25 million and $28 million at December 31, 2025 and 2024, respectively.
Funded Status
The funded status position represents the difference between the benefit obligation and the plan assets. The Company's primary plans consist of six funded plans and five unfunded plans. The projected benefit obligation ("PBO") for pension benefits represents the actuarial present value of benefits attributed to employee services and compensation and includes an assumption about future compensation levels. The accumulated benefit obligation ("ABO") is the actuarial present value of pension benefits attributed to employee service to date at present compensation levels. The ABO differs from the PBO in that the ABO does not include any assumptions about future compensation levels.
Below is the reconciliation of the beginning and ending balances of benefit obligations, fair value of plan assets, and the funded status of the Company's defined benefit plans ("Pension Benefits").
 Pension Benefits

20252024
Change in benefit obligation:
Benefit obligation at beginning of year$2,084 $2,443 
Service cost18 16 
Interest cost106 107 
Actuarial (gain)/loss (1)
19 (148)
Benefits paid(107)(92)
Settlements(26)(227)
Settlement due to plan termination (2)
(117)— 
Foreign currency translation adjustments99 (15)
Benefit obligation at end of year2,076 2,084 
Change in plan assets:
Fair value of plan assets at beginning of year1,708 2,080 
Actual return on plan assets28 (73)
Employer contributions54 66 
Benefits paid(107)(92)
Settlements(26)(227)
Settlement due to plan termination (2)
(117)— 
Other(2)(39)
Foreign currency translation adjustments75 (7)
Fair value of plan assets at end of year1,613 1,708 
Funded status - underfunded at end of year$(463)$(376)
Accumulated benefit obligation$2,030 $2,039 
(1)The actuarial gain in 2024 was primarily related to a change in the discount rate used to measure the benefit obligation for the Company's plans.
(2)Plan termination relates to the termination of one of the Company's fully funded frozen U.S. defined benefit plans that was initiated in 2024.
The amounts recognized in the consolidated statements of financial position consist of the following at December 31:
 Pension Benefits

20252024
Noncurrent assets$— $43 
Current liabilities(77)(28)
Noncurrent liabilities(386)(391)
Net amount recognized$(463)$(376)
Information for the plans with ABOs and PBOs in excess of plan assets consists of the following at December 31:

Pension Benefits

20252024
Projected benefit obligation$2,076 $1,180 
Accumulated benefit obligation$2,030 $1,135 
Fair value of plan assets$1,613 $761 
The Company has a U.S. non-qualified supplemental pension plan ("BH SPP") for certain employees, which is included in the benefit obligations and funded status in the tables above. In order to meet a portion of the Company's obligations of the BH SPP, the Company established a trust comprised primarily of mutual fund assets. The value of these assets was $38 million and $36 million as of December 31, 2025 and 2024, respectively. These assets are not included as plan assets or in the funded status amounts in the tables above and below.
Net Periodic Cost
The components of net periodic cost consist of the following:
Pension Benefits
202520242023
Service cost$18 $16 $15 
Interest cost106 107 116 
Expected return on plan assets(86)(118)(102)
Amortization of prior service credit
1 1 1 
Amortization of net actuarial loss19 18 19 
Curtailment / settlement loss 28 20 (16)
Net periodic cost$85 $44 $33 
The service cost component of the net periodic cost is included in "Selling, general and administrative" and all other components are included in "Other (income) expense, net" in the consolidated statements of income.
Assumptions Used in Benefit Calculations
Accounting requirements necessitate the use of assumptions to reflect the uncertainties and the length of time over which the pension obligations will be paid. The actual amount of future benefit payments will depend upon when participants retire, the amount of their benefit at retirement, and how long they live. To reflect the obligation in today's dollars, the Company discounts the future payments using a rate that matches the time frame over which the payments are expected to be made. The Company also needs to assume a long-term rate of return that will be earned on investments used to fund these payments.
Another assumption used is the interest crediting rate for the Company's U.S. qualified cash balance plan. Under the provisions of this pension plan, a hypothetical cash balance account has been established for each participant. Such accounts receive quarterly interest credits based on a prescribed formula.
Weighted average assumptions used to determine benefit obligations for these plans are as follows:
 Pension Benefits

20252024
Discount rate4.74 %5.22 %
Rate of compensation increase3.32 %3.31 %
Interest crediting rate3.20 %4.46 %
Weighted average assumptions used to determine net periodic cost for these plans are as follows:
Pension Benefits
202520242023
Discount rate5.22 %4.54 %4.89 %
Expected long-term return on plan assets
5.18 %5.97 %5.05 %
Interest crediting rate4.46 %3.98 %4.31 %
The Company determines the discount rate using a bond matching model, whereby the weighted average yields on high-quality fixed-income securities have maturities consistent with the timing of benefit payments. Lower discount rates increase the size of the benefit obligations while higher discount rates reduce the size of the benefit obligation. The compensation assumption is used in the Company's active plans to estimate the annual rate at which the pay for plan participants will grow. If the rate of growth assumed increases, the size of the pension obligations will increase.
The expected return on plan assets is the estimated long-term rate of return that will be earned on the investments used to fund the pension obligations. To determine this rate, the Company considers the current and target composition of plan investments, historical returns earned, and expectations about the future.
Accumulated Other Comprehensive Loss
The amount recorded before-tax in accumulated other comprehensive loss related to the Company's defined benefit plans consists of the following at December 31:
 Pension Benefits

20252024
Net actuarial loss$384 $338 
Net prior service cost12 14 
Total$396 $352 
Plan Assets
The Company has an investment committee that meets regularly to review portfolio returns and to determine asset-mix targets based on asset/liability studies. Third-party investment consultants assist the committee in developing asset allocation strategies to determine the Company's expected rates of return and expected risk for various investment portfolios. The investment committee considered these strategies in the formal establishment of the current asset-mix targets based on the projected risk and return levels for all major asset classes.
The table below presents the fair value of the plan assets at December 31:
20252024
Debt securities
Fixed income and cash investment funds$190 $1,253 
Equity securities
Global equity securities (1)
— 73 
U.S. equity securities (1)
— 107 
Insurance contracts1,224 92 
Real estate2 3 
Private equities39 45 
Other investments (2)
158 135 
Total plan assets$1,613 $1,708 
(1)Includes direct investments and investment funds.
(2)Consists primarily of asset allocation fund investments.
Plan assets valued using Net Asset Value ("NAV") as a practical expedient amounted to $382 million and $1,557 million as of December 31, 2025 and 2024, respectively. The percentages of plan assets valued using NAV by investment fund type for equity securities, fixed income and cash, and alternative investments were 0%, 50%, and 50% as of December 31, 2025, respectively, and 12%, 80%, and 8% as of December 31, 2024, respectively. Those investments that were measured at fair value using NAV as a practical expedient were excluded from the fair value hierarchy. The practical expedient was not applied for investments with a fair value of $1,231 million and $151 million as of December 31, 2025 and 2024, respectively. There were investments classified within Level 3 of $1,224 million and $92 million for non U.S. insurance contracts as of December 31, 2025 and 2024, respectively.
Other
In 2025, the trustees of the Company's U.K. defined benefit pension plans executed annuity purchase transactions (collectively, the "buy‑ins") with an independent third‑party insurance company with no affiliation to the Company. The buy‑in premiums were funded from plan assets, with additional Company contributions as necessary. The aggregate premium paid was approximately $1,107 million. Under the buy‑in insurance contracts, the plans retain the legal responsibility to pay benefits to participants, and the insurer makes monthly payments to the plans that match the benefits due to the covered participants. As the plans remain primarily responsible for the pension obligation, the buy‑ins do not meet the settlement criteria under ASC 715, and settlement accounting was not applied.
The buy‑in insurance contracts are recognized as plan assets and measured at fair value in accordance with ASC 715 and ASC 820. Fair value reflects the present value of expected cash flows from the insurers under the contracts, using market‑based assumptions; because valuation incorporates significant unobservable inputs, these assets are typically classified within Level 3 of the fair value hierarchy. Gains and losses related to changes in the fair value of plan assets are recognized in other comprehensive income.
In 2025, the Company initiated the termination of one of its frozen U.S. defined benefit pension plans (the "Plan"), which would result in the full settlement of the Company's Plan obligations, which at December 31, 2025 was $406 million. The distribution of Plan assets from the pension trust fund pursuant to the termination will not be made until the Plan termination satisfies all regulatory requirements, which the Company currently expects to occur by the end of 2026. The Company does not expect the termination to have a material impact on its financial condition, results of operations, or cash flows.
Funding Policy
The funding policy for the Company's Pension Benefits is to contribute amounts sufficient to meet minimum funding requirements as set forth in employee benefit and tax laws plus such additional amounts as it may determine to be appropriate. In 2025, the Company contributed approximately $54 million, which includes benefit payments made directly to the employee, for its unfunded plans. The Company anticipates it will contribute between approximately $115 million to $120 million to its pension plans in 2026.
The following table presents the expected benefit payments for Pension Benefits over the next 10 years. For funded Company sponsored plans, the benefit payments are made by the respective pension trust funds.
YearPension Benefits
2026$486 
202783 
202888 
202994 
203097 
2031-2035
551 
DEFINED CONTRIBUTION PLANS
The Company's primary defined contribution plan during 2025 was the Company-sponsored U.S. 401(k) plan ("401(k) Plan"). The 401(k) Plan allows eligible employees to contribute portions of their eligible compensation to an investment trust. The Company matches employee contributions at the rate of $1.00 per $1.00 employee contribution for the first 5% of the employee's eligible compensation, and such contributions vest immediately. In addition, the Company makes cash contributions for all eligible employees of 4% of their eligible compensation and such contributions are fully vested after three years of employment. The 401(k) Plan provides several investment options, for which the employee has sole investment discretion; however, the 401(k) Plan does not offer the Company's common stock as an investment option. The Company's costs for the 401(k) Plan and several other U.S. and non-U.S. defined contribution plans amounted to $254 million and $180 million in 2025 and 2024, respectively.
The Company has two non-qualified defined contribution plans that are invested through trusts. The assets and corresponding liabilities were $330 million and $300 million at December 31, 2025 and 2024, respectively, and are included in "All other assets" and "Liabilities for pensions and other postretirement benefits," respectively, in the consolidated statements of financial position.
v3.25.4
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company has adopted ASU 2023-09, effective prospectively for the fiscal year ended December 31, 2025. ASU 2023-09 provides for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information.
The provision for income taxes consists of the following:
2025
Current:
U.S. federal
$6 
U.S. state
19 
Foreign930 
Total current955 
Deferred:
U.S. federal
(87)
U.S. state
(24)
Foreign(591)
Total deferred(702)
Provision for income taxes$253 
20242023
Current:
U.S.$39 $33 
Foreign889 711 
Total current928 744 
Deferred:
U.S.(556)(27)
Foreign(115)(32)
Total deferred(671)(59)
Provision for income taxes$257 $685 
On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act ("OBBBA"). The OBBBA preserves the 21% U.S. Federal statutory tax rate and makes a favorable change to the business interest expense limitation. Further, the OBBBA also makes key elements of the Tax Cuts and Jobs Act permanent, including 100% bonus depreciation, domestic research cost expensing, and various expiring international provisions (with some modifications). Pursuant to ASC 740, changes in tax rates and tax law are required to be recognized in the period in which the legislation is enacted. The Company has completed its evaluation of the impact of this legislation and has determined that the OBBBA did not have a material impact on its 2025 financial statements.
On August 16, 2022, the U.S. enacted The Inflation Reduction Act, which included a number of additional credits and deductions for businesses and individuals. The Inflation Reduction Act also included the adoption of the Corporate Alternative Minimum Tax in 2023, which is based on financial statement book income of large corporations. To date, the impact of the Corporate Alternative Minimum Tax has been immaterial to the Company.
The geographic sources of income before income taxes consist of the following:
202520242023
U.S.$911 $1,099 $882 
Foreign1,966 2,166 1,773 
Income before income taxes
$2,877 $3,265 $2,655 
The reconciliation of the tax provision at the U.S. federal statutory rate to income tax expense is as follows:
2025
%
Income before income taxes
$2,877 
U.S. federal statutory tax rate
604 21.0 %
State and local income taxes (1)
(2)(0.1)%
Federal
Effect of cross-border tax laws
FDII deduction
(73)(2.5)%
Other37 1.3 %
Tax credits
Foreign tax credits
(46)(1.6)%
Other credits
(26)(0.9)%
Changes in valuation allowances
55 1.9 %
Nontaxable or nondeductible items
Other(4)(0.1)%
Other adjustments

Impact of transactions (2)
(210)(7.3)%
Other(12)(0.4)%
Foreign tax effects
CHINA
34 1.1 %
ITALY
State and local income taxes
39 1.4 %
Other(5)(0.2)%
SAUDI ARABIA
Withholding taxes
35 1.2 %
Other
(1)— %
SWITZERLAND
  Changes in valuation allowances
(33)(1.1)%
Taxable dividend
37 1.3 %
Other
10 0.3 %
UNITED ARAB EMIRATES
Effect of rates different than statutory
(50)(1.7)%
Other(7)(0.3)%
UNITED KINGDOM
  Changes in valuation allowances (3)
(432)(15.0)%
Other7 0.3 %
Other foreign jurisdictions
213 7.3 %
Changes in unrecognized tax benefits
83 2.9 %
Income tax expense
$253 8.8 %
(1)For the year ended December 31, 2025, the State and local income taxes are primarily related to the states of Louisiana, Oklahoma, Texas, and Alaska.
(2)For the year ended December 31, 2025, the Impact of transactions are associated with the pre-steps for the transactions discussed in "Note 22. Acquisitions, Dispositions, and Businesses Held for Sale."
(3)For the year ended December 31, 2025, this amount includes $308 million related to the release of a valuation allowance for certain deferred tax assets.
20242023
Income before income taxes
$3,265 $2,655 
Taxes at the U.S. federal statutory income tax rate
686 558 
Effect of foreign operations
269 112 
Tax impact of partnership structure
(40)(103)
Change in valuation allowances (1)
(625)53 
Tax expense (benefit) due to unrecognized tax benefits38 (5)
Other — net
(71)70 
Provision for income taxes
$257 $685 
Actual income tax rate7.9 %25.8 %
(1)For December 31, 2024 and 2023, this amount was reduced by $664 million and $81 million, respectively, related to the release of a valuation allowance for certain deferred tax assets.
The following table presents income taxes paid (net of refunds received) for the year ended December 31:
2025
U.S. federal
$11 
U.S. state & local
32 
Foreign
Italy- federal
286 
Brazil
101 
Germany- federal
80 
Other foreign jurisdictions
646 
Total foreign
1,113 
Total income taxes paid, net
$1,156 
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as operating loss and tax credit carryforwards.
The tax effects of differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities as of December 31 consist of the following:
20252024
Deferred tax assets:
Operating & capital loss carryforwards$3,273 $3,442 
Tax credit & other carryforwards734 772 
Investment in partnerships & subsidiaries
324 276 
Property, plant and equipment
248 250 
Employee benefits290 278 
Goodwill and other intangible assets
442 198 
Receivables127 150 
Inventory114 150 
Other
544 376 
Total deferred income tax asset 6,096 5,892 
Valuation allowances
(3,498)(3,908)
Total deferred income tax asset after valuation allowance2,598 1,984 
Deferred tax liabilities:
Indefinite-lived intangible assets
(382)(377)
Fair value of derivative financial instruments
(150)(166)
Other
(193)(240)
Total deferred income tax liability
(725)(783)
Net deferred tax asset$1,873 $1,201 
At December 31, 2025, the Company had approximately $456 million of non-U.S. tax credits and other carryforwards that may be carried forward indefinitely under applicable foreign law, $113 million of U.S. foreign tax credits, and $165 million of other U.S. Federal and state tax credits, the majority of which have expiration dates after tax year 2028 under U.S. Federal and state tax law. Additionally, the Company had $3,243 million of net operating loss carryforwards ("NOLs"), of which approximately $303 million have expiration dates within five years, $1,930 million have expiration dates between six years and 20 years, and the remainder can be carried forward indefinitely. Lastly, the Company had $30 million of capital loss carryforwards, the majority of which can be carried forward indefinitely.
The Company routinely assesses the recoverability of its deferred tax assets, giving consideration to a range of factors including, but not limited to, the pattern of historical taxable income generation, current performance, including active contractual arrangements, and the forecasted business outlook across operating jurisdictions. The ultimate realization of the deferred tax assets depends on a number of factors, including the ability to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. A valuation allowance is recorded (or maintained) when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company assessed both positive and negative evidence, with significant weight given to objective and verifiable factors, such as recent taxable income levels and credit utilization. Based on this evaluation, including consideration of our projected future taxable earnings, the Company concluded that it is more likely than not that its U.S. and U.K. deferred tax assets are recoverable. Accordingly, the Company released the associated valuation allowances, resulting in net tax benefits of $308 million and $664 million at December 31, 2025 and 2024, respectively.
At December 31, 2025, $3,498 million of valuation allowances are recorded against various deferred tax assets, primarily related to foreign operating and capital losses of $2,820 million and non-U.S. tax credit carryforwards of $438 million. The following table presents the change in the valuation allowances during the year:
20252024
Balance at the beginning of the year
$3,908 $4,416 
Releases, net of current year activity
(376)(625)
Other
(34)117 
Balance at end of year
$3,498 $3,908 
Indefinite reinvestment is determined by management's intentions concerning the future operations of the Company. In cases where repatriation would otherwise incur significant withholding or income taxes, these earnings have been indefinitely reinvested in the Company's active non-U.S. business operations. As of December 31, 2025, the cumulative amount of undistributed foreign earnings is approximately $6,622 million. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis differences is not practicable.
At December 31, 2025, the Company had $525 million of tax liabilities for total gross unrecognized tax benefits related to uncertain tax positions. In addition to these uncertain tax positions, the Company had $82 million and $49 million related to interest and penalties, respectively, for total liabilities of $656 million for uncertain positions. If the Company were to prevail on all uncertain positions, the net effect would result in an income tax benefit of approximately $612 million. The remaining $44 million is comprised of $29 million for deferred tax assets that represent tax benefits that would be received in different taxing jurisdictions or in a different character and $15 million for increased valuation allowances.
The following table presents the changes in the Company's gross unrecognized tax benefits included in the consolidated statements of financial position.
Asset / (Liability)20252024
Balance at beginning of year$(455)$(467)
Additions for tax positions of the current year(12)(17)
Additions for tax positions of prior years(193)(51)
Reductions for tax positions of prior years31 28 
Settlements with tax authorities61 24 
Lapse of statute of limitations43 28 
Balance at end of year$(525)$(455)
The Company conducts business in more than 120 countries and is subject to income taxes in most taxing jurisdictions in which it operates, each of which may have multiple open years subject to examination. All Internal Revenue Service examinations have been completed and closed through 2020 for the most significant U.S. returns. The Company believes that it has made adequate provision for all income tax uncertainties in all jurisdictions.
v3.25.4
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company has the Long-Term Incentive Plan ("LTI Plan") under which it may grant restricted stock units ("RSU"), performance share units ("PSU"), stock options, and other equity-based awards to employees and non-employee directors providing services to the Company and its subsidiaries. The Company also provides an Employee Stock Purchase Plan for eligible employees. A total of up to 29.5 million shares of Class A common stock are reserved and available for issuance pursuant to awards granted under the LTI Plan over its term, which expires on the date of the annual meeting of the Company in 2031. A total of 17.6 million shares of Class A common stock are available for issuance as of December 31, 2025.
Stock-based compensation cost was $203 million, $202 million, and $197 million for the years ended December
31, 2025, 2024, and 2023, respectively. Stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant. The compensation cost is determined based on awards ultimately expected to vest; therefore, the Company has reduced the cost for estimated forfeitures based on historical forfeiture rates. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods to reflect actual forfeitures. There were no stock-based compensation costs capitalized as the amounts were not material.
Restricted Stock
The Company may grant to its officers, directors, and key employees RSUs, where each unit represents the right to receive, at the end of a stipulated period, one unrestricted share of stock with no exercise price. Certain RSUs are subject to cliff or graded vesting, generally ranging over a period of three years. Non-employee directors are granted RSUs that immediately vest on the grant date. Cash dividend equivalents are accumulated on RSUs and are payable upon vesting of the awards. The Company determines the fair value of RSUs based on the market price of its common stock on the date of grant.
The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices):
Number of
Units		Weighted Average
Grant Date Fair
Value Per Unit
Unvested balance at December 31, 2024
11,494 $29.06 
Granted4,372 44.48 
Vested(5,586)29.05 
Forfeited(973)35.35 
Unvested balance at December 31, 2025
9,307 $35.65 
In 2025, the total intrinsic value of RSUs vested (defined as the value of shares awarded based on the price of the Company's common stock at vesting date) was $254 million and unvested RSUs was $424 million. The total grant date fair value of RSUs vested in 2025 was $162 million. As of December 31, 2025, there was $185 million of total unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted average period of 1.77 years.
Performance Share Units
The Company may grant PSUs to certain officers and key employees. The PSUs are stock-based awards tied to predefined company metrics and contain a payout modifier based on total shareholder return ("TSR"). PSUs generally cliff vest after a service period of three years. Cash dividend equivalents are accumulated on PSUs and are payable upon vesting of the awards. The fair value of the awards determined for the predefined company metrics are based on the market price of the Company's common stock on the date of grant. The fair value of the PSU awards is determined based on a Monte Carlo simulation method.
The following table presents the changes in PSUs outstanding and related information (in thousands, except per unit prices):
Number of
Units		Weighted Average
Grant Date Fair
Value Per Unit
Unvested balance at December 31, 2024
2,542 $32.45 
Granted1,224 41.08 
Vested(1,328)32.24 
Forfeited(344)36.93 
Unvested balance at December 31, 2025
2,094 $36.88 
The total intrinsic value of PSUs vested and unvested, (defined as the value of the shares awarded at the year-end market price) was $55 million and $95 million, respectively, as of December 31, 2025. The total grant date fair value of PSUs vested in 2025 was $43 million. Total unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted average period of 1.64 years, was $34 million as of December 31, 2025.
Stock Options
The Company previously granted stock options to its officers, directors, and key employees. Stock options generally vest in equal amounts over a vesting period of three years provided that the employee has remained continuously employed by the Company through such vesting date. The Company has not granted stock options to officers, directors, or key employees since 2019.
The following table presents the changes in stock options outstanding and related information (in thousands, except per option prices):
Number of
Options		Weighted Average
Exercise Price
Per Option
Outstanding at December 31, 2024
1,425 $31.99 
Exercised(581)27.54 
Outstanding and exercisable at December 31, 2025
844 $35.04 
The weighted average remaining contractual term for options outstanding and options exercisable at December 31, 2025 was 1.8 years. The maximum remaining contractual term of options outstanding is 3.1 years.
The total intrinsic value of stock options exercised (defined as the amount by which the market price of the Company's common stock on the date of exercise exceeds the exercise price of the option) in 2025 was $10 million. The total intrinsic value of stock options outstanding and options exercisable at December 31, 2025 was $9 million. The intrinsic value of stock options outstanding is calculated as the amount by which the quoted price of $45.54 of the Company's common stock as of the end of 2025 exceeds the exercise price of the options.
Employee Stock Purchase Plan
The employee stock purchase plan provides for eligible employees to purchase shares of Class A common stock quarterly on an after-tax basis in an amount between 1% and 20% of their annual pay at a 15% discount of the fair market value of the Company's Class A common stock at the end of each quarterly offering period. An employee may not purchase more than $3,000 in any of the three-month measurement periods described above or $12,000 annually.
A total of 21.5 million shares of Class A common stock are authorized for issuance, and at December 31, 2025, there were 5.3 million shares of Class A common stock reserved for future issuance.
v3.25.4
EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
EQUITY EQUITY
COMMON STOCK
The Company is authorized to issue 2 billion shares of Class A common stock and 50 million shares of preferred stock, each of which has a par value of $0.0001 per share.
The Company has a share repurchase program that it expects to fund from cash generated from operations, and it expects to make share repurchases from time to time subject to the Company's capital plan, market conditions, and other factors, including regulatory restrictions. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. In 2025 and 2024, the Company repurchased and canceled 9.8 million and 15.2 million shares of Class A common stock, each for $384 million and
$484 million, representing an average price per share of $39.38 and $31.78, respectively. As of December 31, 2025, the Company had authorization remaining to repurchase up to approximately $1.3 billion of its Class A common stock.
The following table presents the changes in the number of shares outstanding (in thousands):
Class A
Common Stock
20252024
Balance at beginning of year989,646 997,709 
Issue of shares upon vesting of restricted stock units (1)
4,777 4,975 
Issue of shares on exercise of stock options (1)
581 389 
Issue of shares for employee stock purchase plan
1,561 1,814 
Repurchase and cancellation of Class A common stock(9,751)(15,241)
Balance at end of year986,815 989,646 
(1)    Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.
During 2025 and 2024, the Company declared and paid aggregate regular dividends of $0.92 and $0.84 per share, respectively, to holders of record of the Company's Class A common stock.
ACCUMULATED OTHER COMPREHENSIVE LOSS
The following tables present the changes in accumulated other comprehensive loss, net of tax:
Foreign Currency Translation AdjustmentsCash Flow HedgesBenefit PlansAccumulated Other Comprehensive Loss
Balance at December 31, 2023$(2,513)$(6)$(277)$(2,796)
Other comprehensive income (loss) before reclassifications(350)9 (46)(387)
Amounts reclassified from accumulated other comprehensive loss
— (11)32 21 
Deferred taxes
— 1 — 1 
Other comprehensive loss
(350)(1)(14)(365)
Balance at December 31, 2024(2,863)(7)(291)(3,161)
Other comprehensive income (loss) before reclassifications
528 10 (90)448 
Amounts reclassified from accumulated other comprehensive loss
— — 45 45 
Deferred taxes
— — 17 17 
Other comprehensive income (loss)528 10 (28)510 
Less: Other comprehensive income attributable to noncontrolling interests
1 — — 1 
Balance at December 31, 2025$(2,336)$3 $(319)$(2,652)
The amounts reclassified from accumulated other comprehensive loss during the years ended December 31, 2025 and 2024 represent (i) net gains (losses) reclassified on cash flow hedges when the hedged transaction occurs, and (ii) the amortization of net actuarial gain (loss), prior service credit, settlements, and curtailments, which are included in the computation of net periodic pension cost (see "Note 10. Employee Benefit Plans" for additional details).
v3.25.4
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic and diluted net income per share of Class A common stock is presented below:
(In millions, except per share amounts)202520242023
Net income$2,624 $3,008 $1,970 
Less: Net income attributable to noncontrolling interests36 29 27 
Net income attributable to Baker Hughes Company$2,588 $2,979 $1,943 
Weighted average shares outstanding:
Class A basic
988 994 1,008 
Class A diluted
994 1,001 1,015 
Net income per share attributable to common stockholders:
Class A basic
$2.62 $3.00 $1.93 
Class A diluted
$2.60 $2.98 $1.91 
For the years ended December 31, 2025, 2024, and 2023, Class A diluted shares include the dilutive impact of equity awards except for approximately nil, 1 million, and 2 million options, respectively, that were excluded because the exercise price exceeded the average market price of the Company's Class A common stock and is therefore antidilutive.
v3.25.4
FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS
RECURRING FAIR VALUE MEASUREMENTS
The Company's assets and liabilities measured at fair value on a recurring basis consist of derivative instruments and investment securities.
20252024
Level 1Level 2Level 3Net BalanceLevel 1Level 2Level 3Net Balance
Assets   
Derivatives
$— $22 $— $22 $— $11 $— $11 
Investment securities1,217 — 24 1,241 1,282 — 2 1,284 
Total assets1,217 22 24 1,263 1,282 11 2 1,295 
Liabilities   
Derivatives
— (33)— (33)— (64)— (64)
Total liabilities$— $(33)$— $(33)$— $(64)$— $(64)
20252024
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Investment securities (1)
   
Non-U.S. debt securities (2)
$24 $— $— $24 $3 $— $— $3 
Equity securities578 666 (27)1,217 544 737 — 1,281 
Total$602 $666 $(27)$1,241 $547 $737 $— $1,284 
(1)Net gains (losses) recorded to earnings related to these securities were $(103) million, $341 million, and $405 million for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)As of December 31, 2025, the Company's non-U.S. debt securities are classified as available for sale securities and mature in approximately one year.
As of December 31, 2025 and 2024, the balance of the Company's equity securities with readily determinable fair values is $1,217 million and $1,281 million, respectively, and is comprised mainly of the Company's investment in Abu Dhabi National Oil Company Drilling, and is recorded primarily in "All other current assets" in the consolidated statements of financial position. The Company measures its investments at fair value based on quoted prices in active markets. Net gains (losses) related to the Company's equity securities with readily determinable fair values are reported in "Other (income) expense, net" in the consolidated statements of income. See "Note 21. Other (Income) Expense, Net" for further information.
FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTS
The Company's financial instruments include cash and cash equivalents, receivables, certain investments, accounts payable, short and long-term debt, and derivative financial instruments. Except for long-term debt, the estimated fair value of these financial instruments at December 31, 2025 and 2024 approximates their carrying value as reflected in the consolidated financial statements. For further information on the fair value of the Company's debt, see "Note 9. Debt."
DERIVATIVES AND HEDGING
The Company uses derivatives to manage its risks and does not use derivatives for speculation. The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.
 20252024
Assets(Liabilities)Assets(Liabilities)
Derivatives accounted for as hedges
Currency exchange contracts
$— $— $2 $(2)
Interest rate swap contracts9 (24)— (45)
Derivatives not accounted for as hedges
Currency exchange contracts and other
13 (9)9 (17)
Total derivatives$22 $(33)$11 $(64)
Derivatives are classified in the consolidated statements of financial position depending on their respective maturity date. As of December 31, 2025 and 2024, $22 million and $9 million of derivative assets are recorded in "All other current assets" and nil and $3 million are recorded in "All other assets" in the consolidated statements of financial position, respectively. As of December 31, 2025 and 2024, $8 million and $16 million of derivative liabilities are recorded in "All other current liabilities" and $25 million and $50 million are recorded in "All other liabilities" in the consolidated statements of financial position, respectively.
During 2025 and 2024, the Company had issued credit default swaps ("CDS") totaling $775 million and $553 million, respectively, to third-party financial institutions. The CDS relate to borrowings provided by these financial institutions to a customer in Mexico who utilized these borrowings to pay certain of the Company's outstanding receivables. The total notional amount remaining on the issued CDS was $287 million and $412 million as of December 31, 2025 and 2024, respectively, which will reduce each month through September 2026 as the customer repays the borrowings. As of December 31, 2025, the fair value of these derivative liabilities is not material.
FORMS OF HEDGING
Cash Flow Hedges
The Company uses cash flow hedging primarily to mitigate the effects of foreign exchange rate changes on purchase and sale contracts. Accordingly, the vast majority of derivative activity in this category consists of currency exchange contracts. In addition, the Company is exposed to interest rate risk fluctuations in connection with long-term debt that it issues from time to time to fund its operations. Changes in the fair value of cash flow hedges are recorded in a separate component of equity (referred to as "Accumulated Other Comprehensive Income" or "AOCI")
and are recorded in earnings in the period in which the hedged transaction occurs. See "Note 13. Equity" for further information on activity in AOCI for cash flow hedges. As of December 31, 2025 and 2024, the maximum term of cash flow hedges that hedge forecasted transactions was approximately two years and one year, respectively.
During 2025, the Company had outstanding interest rate swap contracts designated as cash flow hedges with a notional amount of $2,500 million in order to hedge a portion of the Company's expected exposure in connection with future debt financing activities related to the acquisition of Chart, expected to take place in the second quarter of 2026. As of December 31, 2025, the fair value of these interest rate swap contracts is $9 million.
Fair Value Hedges
All of the Company's long-term debt is comprised of fixed rate instruments. The Company is subject to interest rate risk on its debt portfolio and may use interest rate swaps to manage the economic effect of fixed rate obligations associated with certain debt. Under these arrangements, the Company agrees to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount.
As of December 31, 2025 and 2024, the Company had interest rate swaps with a notional amount of $500 million that converted a portion of its $1,350 million aggregate principal amount of 3.337% fixed rate Senior Notes due 2027 into a floating rate instrument with an interest rate based on a Secured Overnight Financing Rate index. The Company concluded that the interest rate swap met the criteria necessary to qualify for hedge accounting, and as such, the changes in this fair value hedge are recorded as gains or losses in interest expense and are equally offset by the gains or losses of the underlying debt instrument, which are also recorded in interest expense.
NOTIONAL AMOUNT OF DERIVATIVES
The notional amount of a derivative is used to determine, along with the other terms of the derivative, the amounts to be exchanged between the counterparties. The Company discloses the derivative notional amounts on a gross basis to indicate the total counterparty risk, but it does not generally represent amounts exchanged by the Company and the counterparties. A substantial majority of the outstanding notional amount of $7.1 billion and $4.0 billion at December 31, 2025 and 2024, respectively, is related to hedges of anticipated sales and purchases in foreign currency, commodity purchases, changes in interest rates, and contractual terms in contracts that are considered embedded derivatives and for intercompany borrowings in foreign currencies.
COUNTERPARTY CREDIT RISK
Fair values of the Company's derivatives can change significantly from period to period based on, among other factors, market movements and changes in the Company's positions. The Company manages counterparty credit risk (the risk that counterparties will default and not make payments according to the terms of the agreements) on an individual counterparty basis.
v3.25.4
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS PROGRESS COLLECTIONS AND DEFERRED INCOME
Contract liabilities include progress collections, which reflect billings in excess of revenue, and deferred income on long-term contracts to construct technically complex equipment and provide long-term product service agreements and extended maintenance arrangements. Contract liabilities consist of the following at December 31:
20252024
Equipment contracts and other service agreements$5,249 $5,047 
Long-term product service agreements507 503 
Progress collections5,756 5,550 
Deferred income148 122 
Progress collections and deferred income (contract liabilities)$5,904 $5,672 
Revenue recognized during the years ended December 31, 2025 and 2024 that was included in the contract liabilities at the beginning of the year was $4,315 million and $4,398 million, respectively.
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS
DISAGGREGATED REVENUE
The Company disaggregates its revenue from contracts with customers by product line for both the OFSE and IET segments, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. In addition, management views revenue from contracts with customers for OFSE by geography based on the location to where the product is shipped or the services are performed.
The series of tables below present the Company's revenue disaggregated by these categories.
Total Revenue202520242023
Well Construction$3,646 $4,145 $4,387 
Completions, Intervention, and Measurements
3,750 4,154 4,170 
Production Solutions3,806 3,860 3,854 
Subsea & Surface Pressure Systems3,122 3,470 2,950 
Oilfield Services & Equipment14,324 15,628 15,361 
Gas Technology Equipment
6,619 5,693 4,232 
Gas Technology Services
3,028 2,797 2,600 
Total Gas Technology9,647 8,490 6,832 
Industrial Products
1,991 2,040 1,962 
Industrial Solutions
1,123 1,065 983 
Controls (1)
— — 41 
Total Industrial Technology3,114 3,105 2,987 
Climate Technology Solutions
647 605 326 
Industrial & Energy Technology13,409 12,201 10,145 
Total$27,733 $27,829 $25,506 
(1)The sale of the Company's controls business was completed in April 2023.
Oilfield Services & Equipment Geographic Revenue202520242023
North America$3,773 $3,955 $4,116 
Latin America2,423 2,609 2,761 
Europe/CIS/Sub-Saharan Africa2,455 3,250 2,655 
Middle East/Asia5,673 5,814 5,829 
Oilfield Services & Equipment$14,324 $15,628 $15,361 
REMAINING PERFORMANCE OBLIGATIONS
As of December 31, 2025, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $35.9 billion. As of December 31, 2025, the Company expects to recognize revenue of approximately 59%, 74%, and 89% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as the Company fulfills the related remaining performance obligations.
v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's segments are determined as those operations whose results are reviewed regularly by the chief operating decision maker ("CODM"), who is the Company's Chief Executive Officer, in deciding how to allocate resources and assess performance. The Company reports its operating results through two operating segments, OFSE and IET. Each segment is organized and managed based upon the nature of the Company's markets and customers and consists of similar products and services. These products and services operate across upstream oil and gas and broader energy and industrial markets. The following is a description of each segment's business operations:
Oilfield Services & Equipment provides products and services for onshore and offshore oilfield operations across the lifecycle of a well, ranging from exploration, appraisal, and development, to production, rejuvenation, and decommissioning. OFSE is organized into four product lines: Well Construction, which encompasses drilling
services, drill bits, and drilling & completions fluids; Completions, Intervention, and Measurements, which encompasses well completions, pressure pumping, and wireline services; Production Solutions, which spans artificial lift systems and oilfield & industrial chemicals; and Subsea & Surface Pressure Systems, which encompasses subsea projects and services, surface pressure control, and flexible pipe systems. Beyond its traditional oilfield concentration, OFSE is expanding its capabilities and technology portfolio to meet the challenges of a net-zero future. These efforts include expanding into new energy areas such as geothermal and carbon capture, utilization and storage, strengthening its digital architecture, and addressing key energy market themes.
Industrial & Energy Technology provides technology solutions and services for mechanical-drive, compression, and power-generation applications across the energy industry, including oil and gas, LNG operations, downstream refining, and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors. IET also provides equipment, software, and services that serve a wide range of industries including petrochemical and refining, nuclear, aviation, automotive, mining, cement, metals, pulp and paper, and food and beverage. IET is organized into five product lines - Gas Technology Equipment, Gas Technology Services, Industrial Products, Industrial Solutions, and Climate Technology Solutions.
In the first quarter of 2025, the Company changed the internal financial information regularly provided to the CODM to formalize the transition to evaluation of the performance of the Company's reportable segments utilizing segment Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA") as the measure of profit. This accompanied a change to the captions and subtotals included on the Company's income statement. The CODM assesses the performance of each segment based on segment EBITDA, which is defined as income (loss) before income taxes and before the following: net interest expense, costs associated with significant restructuring programs, depreciation and amortization, and unallocated corporate costs and other income (expense). The CODM uses segment EBITDA as the measure to make resource (including financial or capital resources) allocation decisions for each segment, predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis when evaluating performance for each segment and making decisions about capital allocation. Accounting policies have been applied consistently by all segments within the Company for all reporting periods. Intercompany revenue and expense amounts have been eliminated within each segment to report on the basis that management uses internally for evaluating segment performance.
Summarized financial information for the Company's segments is shown in the following tables.
2025
OFSE
IET
Total
Revenue
$14,324 $13,409 $27,733 
Cost of goods and services sold
(11,532)(9,594)(21,126)
Research and development costs
(241)(359)(600)
Selling, general and administrative(876)(1,215)(2,091)
Other income (expense)
11 8 19 
Add: Depreciation and amortization
932 233 1,165 
Segment EBITDA
$2,618 $2,482 $5,100 
2024
OFSE
IET
Total
Revenue
$15,628 $12,201 $27,829 
Cost of goods and services sold(12,448)(8,738)(21,186)
Research and development costs
(260)(383)(643)
Selling, general and administrative(932)(1,250)(2,182)
Add: Depreciation and amortization
893 220 1,113 
Segment EBITDA
$2,881 $2,050 $4,931 
2023
OFSE
IET
Total
Revenue
$15,361 $10,145 $25,506 
Cost of goods and services sold
(12,282)(7,220)(19,502)
Research and development costs
(278)(373)(651)
Selling, general and administrative(1,055)(1,242)(2,297)
Add: Depreciation and amortization
849 217 1,066 
Segment EBITDA
$2,595 $1,527 $4,121 
Reconciliation of segment EBITDA to Net Income Attributable to Baker Hughes Company:
202520242023
OFSE
$2,618 $2,881 $2,595 
IET
2,482 2,050 1,527 
Total segment5,100 4,931 4,121 
Corporate costs (1)
(318)(340)(359)
Inventory impairment (2)
(22)(73)(35)
Restructuring (3)
(215)(260)(313)
Other income (expense), net (4)
(262)341 544 
Depreciation and amortization (3)
(1,184)(1,136)(1,087)
Interest expense, net(222)(198)(216)
Income before income taxes
2,877 3,265 2,655 
Provision for income taxes
(253)(257)(685)
Net Income
2,624 3,008 1,970 
Less: Net income attributable to noncontrolling interests36 29 27 
Net income attributable to Baker Hughes Company
$2,588 $2,979 $1,943 
(1)Corporate costs are primarily reported in "Selling, general and administrative" in the consolidated statements of income and exclude $23 million, $23 million, and $21 million of depreciation and amortization for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)Charges for inventory impairments are reported in "Cost of goods sold" in the consolidated statements of income.
(3)For the year ended December 31, 2025, $4 million of accelerated depreciation expense related to certain PP&E was recorded in "Restructuring" in the consolidated statements of income. See "Note 20. Restructuring" for further information.
(4)Other income (expense), net excludes immaterial amounts recorded within Segment EBITDA and corporate costs for the years ended December 31, 2025. See "Note 21. Other (Income) Expense, Net" for further information.
The following table presents total assets at December 31:
Assets
20252024
OFSE
$18,744 $18,781 
IET
14,934 13,838 
Total segment33,678 32,619 
Corporate and eliminations (1)
7,203 5,744 
Total $40,881 $38,363 
(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 for the year ended December 31:
Depreciation and amortization
202520242023
OFSE
$932 $893 $849 
IET
233 220 217 
Total segment
1,165 1,113 1,066 
Corporate23 23 21 
Total (1)
$1,188 $1,136 $1,087 
(1)For the year ended December 31, 2025, total depreciation and amortization includes $4 million of accelerated depreciation expense, recorded in "Restructuring" in the consolidated statements of income, related to the OFSE segment.
The following table presents capital expenditures for the year ended December 31:
Capital expenditures
202520242023
OFSE
$887 $954 $960 
IET
325 284 229 
Total segment
1,212 1,238 1,189 
Corporate61 40 35 
Total$1,273 $1,278 $1,224 
The following table presents consolidated revenue based on the location to which the product is shipped or the services are performed. Other than the U.S., no other country accounted for more than 10% of the Company's consolidated revenue during the periods presented.
Revenue202520242023
U.S.$7,700 $7,383 $6,557 
Non-U.S.20,033 20,446 18,949 
Total$27,733 $27,829 $25,506 
The following table presents net property, plant and equipment by its geographic location at December 31:
Property, plant and equipment - net20252024
U.S.$1,647 $1,794 
Non-U.S.3,679 3,333 
Total$5,326 $5,127 
v3.25.4
RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
The Company has an aeroderivative joint venture ("Aero JV") that is jointly controlled by GE Vernova (NYSE: GEV) and the Company, each with ownership interest of 50%. The Company had purchases from the Aero JV of $800 million, $698 million, and $517 million during the years ended December 31, 2025, 2024, and 2023, respectively. The Company had $136 million and $117 million of amounts due at December 31, 2025 and 2024, respectively, for products and services provided by the Aero JV in the ordinary course of business.
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
LITIGATION
The Company is subject to legal proceedings arising in the ordinary course of business. Because legal proceedings are inherently uncertain, management is unable to predict the ultimate outcome of such matters. For matters where the range of possible loss is probable and reasonably estimable, the Company has accrued the appropriate amount for the matters disclosed. Unless otherwise disclosed, any potential loss above accrued amounts is not reasonably estimable. Based on the opinion of management, the Company does not expect the ultimate outcome of currently pending legal proceedings to have a material adverse effect on its results of operations, financial position, or cash flows. However, there can be no assurance as to the ultimate outcome of these matters.
On or around February 15, 2023, the lead plaintiff and three additional named plaintiffs in a putative securities class action styled The Reckstin Family Trust, et al., v. C3.ai, Inc., et al., No. 4:22-cv-01413-HSG, filed an amended class action complaint (the "Amended Complaint") in the United States District Court for the Northern District of California. The Amended Complaint names the following as defendants: (i) C3.ai., Inc. ("C3 AI"), (ii) certain of C3 AI's current and/or former officers and directors, (iii) certain underwriters for the C3 AI initial public offering (the "IPO"), and (iv) the Company, and its President and CEO (who formerly served as a director on the board of C3 AI). The Amended Complaint alleges violations of the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the IPO and the subsequent period between December 9, 2020 and December 2, 2021, during which BHH LLC held equity investments in C3 AI. The action seeks unspecified damages and the award of costs and expenses, including reasonable attorneys' fees. On February 22, 2024, the Court dismissed the claims against the Company. However, on April 4, 2024, the plaintiffs filed an amended complaint, reasserting their claims against the Company under the Securities Act and the Exchange Act. On or around February 14, 2025, the plaintiffs filed a further amended complaint, once again reasserting their claims against the Company under the Securities Act and the Exchange Act. At this time, the Company is not able to predict the outcome of these proceedings.
The Company insures against risks arising from its business to the extent deemed prudent by management and to the extent insurance is available, but no assurance can be given that the nature and amount of that insurance will be sufficient to fully indemnify the Company against liabilities arising out of pending or future legal proceedings or other claims. Most of the Company's insurance policies contain deductibles or self-insured retentions in amounts management deems prudent and for which the Company is responsible for payment. In determining the amount of self-insurance, it is the Company's policy to self-insure those losses that are predictable, measurable and recurring in nature, such as claims for automobile liability, general liability and workers compensation.
ENVIRONMENTAL MATTERS
Item 103 of SEC Regulation S-K requires disclosure of certain environmental matters when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that the Company reasonably believes will exceed a specified threshold. The Company uses a threshold of $1 million for such proceedings. Applying this threshold, there are no environmental matters to disclose for this period.
Estimated remediation costs are accrued using currently available facts, existing environmental permits, technology and enacted laws and regulations. The Company's cost estimates are developed based on internal evaluations and are not discounted. Accruals are recorded when it is probable that the Company will be obligated to pay for environmental site evaluation, remediation, or related activities, and such costs can be reasonably estimated. As additional information becomes available, accruals are adjusted to reflect current cost estimates. The Company's total accrual for environmental remediation was $53 million and $54 million at December 31, 2025 and 2024, respectively.
OTHER
In the normal course of business with customers, vendors, and others, the Company has entered into off-balance sheet arrangements, such as surety bonds for performance, letters of credit, and other bank issued
guarantees. Total off-balance sheet arrangements were approximately $6.2 billion at December 31, 2025. It is not practicable to estimate the fair value of these financial instruments. As of December 31, 2025, none of the off-balance sheet arrangements either has, or is likely to have, a material effect on the Company's financial position, results of operations, or cash flows. The Company also had commitments outstanding for purchase obligations for each of the five years in the period ending December 31, 2030 of $1,840 million, $292 million, $146 million, $45 million, and $35 million, respectively, and $22 million in the aggregate thereafter.
The Company sometimes enters into joint and several liability consortiums or similar arrangements for certain projects. Under such arrangements, each party is responsible for performing a certain scope of work within the total scope of the contracted work, and the obligations expire when all contractual obligations are completed. The failure or inability, financially or otherwise, of any of the parties to perform their obligations could impose additional costs and obligations on the Company. These factors could result in unanticipated costs to complete the project, liquidated damages, or contract disputes.
v3.25.4
RESTRUCTURING
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
The Company recorded restructuring charges of $215 million, $260 million, and $313 million during the years ended December 31, 2025, 2024, and 2023, respectively.
In 2025, the Company recorded restructuring charges primarily related to actions taken in the segments to align with the Company's market outlook including footprint consolidation. These actions also resulted in inventory impairments of $22 million in 2025, recorded in "Cost of goods sold" in the consolidated statements of income.
In 2024, the Company initiated a streamlining of the OFSE operating model, which reduced its facility footprint and resulted in employee termination expenses and associated impairment of PP&E. These actions also resulted in inventory impairments of $73 million in 2024, recorded in "Cost of goods sold" in the consolidated statements of income.
In 2023, restructuring charges primarily include costs recognized for employee termination expenses related to exit activities at specific locations in the Company's segments to rationalize the Company's manufacturing supply chain footprint and facilitate further cost efficiency. These actions also resulted in inventory impairments of $35 million in 2023, recorded in "Cost of goods sold" in the consolidated statements of income.
The following table presents restructuring charges by the impacted segment:
202520242023
Oilfield Services & Equipment$121 $206 $148 
Industrial & Energy Technology (1)
84 13 98 
Corporate10 41 67 
Total$215 $260 $313 
(1)For the year ended December 31, 2024, $6 million of additional restructuring charges are included within segment EBITDA and reported in "Selling, general and administrative" in the consolidated statements of income.
The following table presents restructuring charges by type and includes gains on the dispositions of certain property, plant and equipment as a consequence of exit activities:
202520242023
Employee-related termination expenses$122 $153 $270 
Long-lived asset impairments
53 77 (2)
Contract termination fees13 2 1 
Other incremental costs27 34 44 
Total$215 $266 $313 
v3.25.4
OTHER (INCOME) AND EXPENSE, NET
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
OTHER (INCOME) AND EXPENSE, NET OTHER (INCOME) EXPENSE, NET
Other (income) expense, net consists of the following:
202520242023
Change in fair value of equity securities
$103 $(367)$(555)
Transaction related costs
107 — 19 
Other charges and credits (1)
33 26 (8)
Total$243 $(341)$(544)
(1)Other charges and credits of $(19) million for the year ended December 31, 2025 and nil for the years ended December 31, 2024 and 2023, respectively, consists of other (income) expense, net within OFSE and IET.
The Company recorded other (income) expense, net of $243 million, $(341) million, and $(544) million, for the years ended December 31, 2025, 2024, and 2023, respectively. Transaction related costs consist of legal and other professional fees in connection with the businesses being disposed of and acquired, the most significant of which is the ongoing Chart acquisition activities.
v3.25.4
ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE
The Company had no business acquisitions, dispositions, or businesses held for sale for the year ended December 31, 2024.
ACQUISITIONS
During 2025, the Company entered into a definitive agreement to acquire Chart. The Company will acquire all outstanding shares of Chart's common stock for $210 per share in cash, equivalent to a total enterprise value of approximately $13.6 billion. Under the terms of the agreement, the Company agreed to pay $258 million for the termination fee and the reimbursement of certain expenses on behalf of Chart to Flowserve Corporation ("Flowserve"), as a result of the termination of the merger agreement by and among Chart, Flowserve, and certain subsidiaries of Flowserve. This payment on behalf of Chart was recorded as an advance payment in "All other current assets" in the Company's consolidated statements of financial position and in "Net cash paid for acquisitions" in the Company's consolidated statements of cash flows. With regulatory reviews still underway in certain jurisdictions, the Company presently expects closing in the second quarter of 2026, understanding that the timing may evolve as those processes progress. See "Note 9. Debt" for further information on the financing for this transaction.
During 2025, the Company completed the acquisition of CDC in the IET segment for total consideration of $554 million. CDC is a leading provider of safety-critical pressure management solutions. The assets acquired and liabilities assumed in this acquisition were recorded based on preliminary estimates of their fair values as of the acquisition date. As a result of this acquisition, the Company recorded $229 million of goodwill and $269 million of intangible assets, subject to final fair value adjustments. Pro forma results of operations for this acquisition have not been presented because the effects of the acquisition were not material to the Company's consolidated financial statements.
During 2023, the Company completed the acquisition of businesses for total cash consideration of $301 million, net of cash acquired, which consisted primarily of the acquisition of Altus Intervention in the OFSE segment in April 2023. Altus Intervention is a leading international provider of well intervention services and downhole technology. The assets acquired and liabilities assumed in these acquisitions were recorded based on preliminary estimates of their fair values as of the acquisition date. As a result of these acquisitions, the Company recorded $138 million of goodwill and $58 million of intangible assets, subject to final fair value adjustments. Pro forma results of operations for these acquisitions have not been presented because the effects of these acquisitions were not material to the Company's consolidated financial statements.
DISPOSITIONS
During 2023, the Company completed the sale of businesses and received total cash consideration of $293 million. Any gain or loss on a business disposition is reported in "Other (income) expense, net" in the consolidated statements of income. The dispositions consisted primarily of the sale of the Nexus Controls business in the IET segment to GE in April 2023, which resulted in an immaterial gain. Nexus Controls specializes in scalable industrial controls systems, safety systems, hardware, and software cybersecurity solutions and services.
BUSINESSES HELD FOR SALE
The Company classifies assets and liabilities as held for sale ("disposal group") when management commits to a plan to sell the disposal group and concludes that it meets the relevant criteria. Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. Conversely, gains are not recognized until the date of sale.
During 2025, the Company entered into an agreement to form a joint venture with a subsidiary of Cactus, Inc. ("Cactus"). The Company will contribute the Surface Pressure Control ("SPC") business, a business within the Subsea & Surface Pressure Systems product line of its OFSE segment, to the newly formed joint venture in exchange for a 35% non-controlling interest and cash consideration of approximately $345 million. The Company completed the sale of the business to the joint venture on January 1, 2026.
During 2025, the Company entered into an agreement with Crane Company, a diversified manufacturer of engineered industrial products, to sell its Precision Sensors & Instrumentation ("PSI") business, a business within the Industrial Solutions product line of its IET segment, for a total cash consideration of approximately $1.15 billion. The Company completed the sale on January 1, 2026.
For both transactions, as of December 31, 2025, the businesses continued to meet the criteria to be classified as held for sale. The disposition proceeds exceeded the carrying value of the businesses.
The following table presents financial information related to the assets and liabilities of the businesses classified as held for sale and reported in "All other current assets" and "All other current liabilities" in the consolidated statements of financial position as of December 31, 2025.
Assets and liabilities of businesses held for sale
SPC
PSI
Total
Assets
Current receivables$235 $81 $316 
Inventories117 110 227 
Property, plant and equipment39 76 115 
Operating lease right-of use assets
20 9 29 
Goodwill— 422 422 
Intangible assets
— 3 3 
Contract assets
12 1 13 
All other assets
9 2 11 
Total assets of businesses held for sale
432 704 1,136 
Liabilities
Accounts payable116 30 146 
Progress collections and deferred income23 17 40 
Operating lease liabilities
18 7 25 
All other liabilities
41 20 61 
Total liabilities of businesses held for sale
198 74 272 
Total net assets of businesses held for sale
$234 $630 $864 
v3.25.4
SUPPLEMENTARY INFORMATION
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
SUPPLEMENTARY INFORMATION SUPPLEMENTARY INFORMATION
ALL OTHER CURRENT LIABILITIES
All other current liabilities as of December 31, 2025 and 2024 include $1,115 million and $1,237 million, respectively, of employee-related liabilities.
ALLOWANCE FOR CREDIT LOSSES
The following table presents the change in allowance for credit losses:
20252024
Balance at beginning of year$232 $350 
Provision80 77 
Write-offs(14)(153)
Prior year recoveries(23)(35)
Other2 (7)
Balance at end of year$277 $232 
SUPPLY CHAIN FINANCE PROGRAMS
The following table presents the change in SCF program liabilities:
20252024
Balance at beginning of year$411 $332 
Purchases
1,375 1,484 
Payments(1,376)(1,405)
Balance at end of year$410 $411 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During the three months ended December 31, 2025, certain of our officers or directors listed below adopted or terminated trading arrangements for the sale of shares of our Class A common stock in amounts and prices determined in accordance with a formula set forth in each such plan:
Plans
Name and Title
Action
Date
Rule 10b5-1 (1)
Non-Rule 10b5-1 (2)
Number of Shares to be Sold
Expiration
Lorenzo Simonelli,
Chairman, President and Chief Executive Officer
Adoption
November 10, 2025
X
545,187
Earlier of when all shares under plan are sold and December 31, 2026
Ahmed Moghal,
Executive Vice President and Chief Financial Officer (3)
Adoption
November 10, 2025
X
18,102
Earlier of when all shares under plan are sold and December 31, 2026
James Apostolides,
Chief Infrastructure & Performance Officer
Adoption
November 10, 2025
X
37,735
(4)
Earlier of when all shares under the plan are sold and December 31, 2026
Maria Claudia Borras, Chief Growth & Experience Officer and Interim Executive Vice President, Industrial & Energy Technology
Adoption
November 10, 2025
X
104,293
(4)
Earlier of when all shares under the plan are sold and June 30, 2026
Georgia Magno, Chief Legal Officer
Adoption
November 10, 2025
X
24,337
(4)
Earlier of when all shares under the plan are sold and December 31, 2026
(1)Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) as defined in Item 408(c) of Regulation S-K
(2)Not intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) as defined in Item 408(c) of Regulation S-K
(3)Reflects a 10b5-1 trading plan adopted by the officer's spouse
(4)This figure is an estimation of after-tax sale amounts based on the Company's best estimates at this time
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Lorenzo Simoneli [Member]  
Trading Arrangements, by Individual  
Name Lorenzo Simonelli
Title Chairman, President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date December 31, 2026
Arrangement Duration 416 days
Aggregate Available 545,187
Ahmed Moghal [Member]  
Trading Arrangements, by Individual  
Name Ahmed Moghal
Title Executive Vice President and Chief Financial Officer (3)
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date December 31, 2026
Arrangement Duration 416 days
Aggregate Available 18,102
James Apostolides [Member]  
Trading Arrangements, by Individual  
Name James Apostolides
Title Chief Infrastructure & Performance Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date December 31, 2026
Arrangement Duration 416 days
Aggregate Available 37,735
Maria Claudia Borras [Member]  
Trading Arrangements, by Individual  
Name Maria Claudia Borras
Title Chief Growth & Experience Officer and Interim Executive Vice President, Industrial & Energy Technology
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date June 30, 2026
Arrangement Duration 232 days
Aggregate Available 104,293
Georgia Magno [Member]  
Trading Arrangements, by Individual  
Name Georgia Magno
Title Chief Legal Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date December 31, 2026
Arrangement Duration 416 days
Aggregate Available 24,337
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Overall Process
We protect our digital systems and data through a comprehensive cybersecurity management program, which includes a dedicated cybersecurity function, risk assessments, policies and procedures, and technical measures and related services from third party service providers. We have a dedicated Chief Information Security Officer ("CISO") with overall responsibility for the cybersecurity program, including threat detection and response, vulnerability management, governance, risk and compliance, security strategy and architecture, security engineering and operations, product and operational technology security. As part of our cybersecurity management program, we operate a CFC to monitor both internal and external cybersecurity threats, conduct initial assessment of severity, coordinate incident response resources, reduce incident response time, and shift toward a proactive cyber-defense model, which includes a dedicated threat intelligence program that leverages custom intelligence platforms as well as industry specific professional associations and ongoing threat hunting. Through our cybersecurity risk management program, we monitor cybersecurity vulnerabilities and potential attack vectors and evaluate the potential operational and financial effects of any threat and countermeasures made to defend against such threats.
We have established policies and procedures, including our Incident Response Plan ("IRP"), for assessing, identifying, managing, and responding to events that may jeopardize the company digital information or systems, including protocols for assessing potential material impact from cybersecurity threats and incidents, escalating to executive leadership and the Board, engaging external stakeholders, and reporting incidents based on applicable legal requirements. Our IRP provides guidance in the event of a cybersecurity incident, including processes with assigned roles and responsibilities to triage, assess severity, escalate, contain, investigate, and remediate incidents, as well as to comply with applicable legal obligations and mitigate brand and reputational damage. We conduct regular tabletop exercises to test established policies and procedures for responding to cybersecurity threats and incidents. In addition, employees and stakeholders can report cybersecurity threats, cybersecurity and data privacy incidents, or other concerns through external and internal reporting channels.
Enterprise Risk Management Process Integration
Cybersecurity risk management processes are an integral part of our enterprise risk management, which is overseen by the Audit Committee of the Board. Our processes include periodic program maturity assessments, ongoing information technology risk assessments, and third-party security risks assessments.
Our cybersecurity risk management efforts have also been integrated into the overall Enterprise Risk Management ("ERM") process, which includes assessment of cybersecurity risks that could result in significant operational disruption to the Company, such as production disruption, business downtime, loss of containment or other operation interruptions, as well as risks that could have significant reputational and compliance/regulatory impact. Cybersecurity risks identified and tracked through our ERM risk register have assigned risk owners at the executive leadership level and risk delegates who are responsible to identify and manage risk mitigation actions. Key risk indicators are updated quarterly by risk delegates and communicated to our executive leadership and the Audit Committee.
We leverage recognized cybersecurity frameworks to drive strategic direction and maturity improvement and engage third party security experts for risk assessments, risk mitigation actions, and program enhancements. We also include cybersecurity training as part of our required annual employee training program. In addition, cybersecurity and privacy training and awareness is integrated and continues throughout the year, utilizing various delivery methods such as mock phishing campaigns, training sessions, and informational articles.
Third-Party Security Experts
We engage third-party security experts to supplement our internal CFC team as well as for assessments, penetration tests and program enhancements, including vulnerability assessments, security framework maturity assessments and identification of areas for continued focus and improvement. In addition, our third-party experts work with us to conduct tabletop exercises and internal phishing awareness campaigns. We use the findings of
these exercises to improve our practices, procedures, and technologies. We also engage third-party security experts to support our cybersecurity threat and incident response management and maintain information security risk insurance coverage.
Identification of Threats Associated with Third Parties
Baker Hughes utilizes a third-party risk management ("TPRM") program to identify, assess, monitor, and mitigate risks associated with suppliers and vendors, including cybersecurity risks. We conduct initial risk assessments of third-party suppliers and service providers based on various factors to classify each into a risk category. Our TPRM program is designed to apply our most rigorous processes to those suppliers and service providers that are classified into the highest risk category. These processes include due diligence assessments of third-party suppliers and service providers that have access to Baker Hughes networks, digital confidential information, and information systems in order to assess the risks from cybersecurity threats that could impact our suppliers and third-party service providers. We leverage external partners to assist with the regular assessment of our top-priority suppliers and third-party service providers to identify, review and address risks, including deeper reviews of their cybersecurity controls. We track the identified deficiencies and include with other cybersecurity metrics based on their severity. We also require that our suppliers and third-party service providers have in place appropriate technical and organizational security measures and security-control principles based on recognized cybersecurity standards.
Incidents & Risks
To our knowledge, we have not experienced a material cybersecurity incident and although we are subject to ongoing and evolving cybersecurity threats, we are not aware of any material risks from cybersecurity threats that have affected the Company. For more information on our cybersecurity risks, see "Technology Risks" identified in the "Risk Factors" section of Part 1 of Item 1A herein.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity risk management efforts have also been integrated into the overall Enterprise Risk Management ("ERM") process, which includes assessment of cybersecurity risks that could result in significant operational disruption to the Company, such as production disruption, business downtime, loss of containment or other operation interruptions, as well as risks that could have significant reputational and compliance/regulatory impact. Cybersecurity risks identified and tracked through our ERM risk register have assigned risk owners at the executive leadership level and risk delegates who are responsible to identify and manage risk mitigation actions. Key risk indicators are updated quarterly by risk delegates and communicated to our executive leadership and the Audit Committee.
We leverage recognized cybersecurity frameworks to drive strategic direction and maturity improvement and engage third party security experts for risk assessments, risk mitigation actions, and program enhancements. We also include cybersecurity training as part of our required annual employee training program. In addition, cybersecurity and privacy training and awareness is integrated and continues throughout the year, utilizing various delivery methods such as mock phishing campaigns, training sessions, and informational articles.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Board of Directors
Oversight responsibilities for our cybersecurity and digital security programs and risks lie with the Audit Committee of the Board. The Board is actively engaged in the oversight of our cybersecurity and digital security programs and oversees all operational, financial, strategic, and reputational risks with oversight of specific risks undertaken with the committee structure including risks related to cybersecurity, data security, and technology.
The Audit Committee receives reports on our cybersecurity program and developments from our CISO at each of our regular meetings, which occur at least four times per year. These reports typically include analyses of recent cybersecurity threats and incidents at the Company and across the industry, as well as a review of our own security controls, assessments and program maturity, and risk mitigation status, as well as a review of our third-party service providers. Our digital technology, legal, and the corporate audit functions also routinely present to the Audit Committee on key cybersecurity topics and, on at least an annual basis, the Board receives reports on our cybersecurity program and developments from the CISO.
Management
Our programs are focused on building digital trust through sound oversight of cybersecurity and data privacy protections and the responsible use of data and technology. We operate a CFC, and we have a cross-functional approach to addressing cybersecurity-related risks through the functional compliance structures in our digital technology and legal organizations with oversight from the corporate audit and controllership functions. The cybersecurity and legal functions employ full-time resources in cybersecurity and privacy roles with expertise in managing cybersecurity and privacy compliance and risks and responding to incidents.
Our senior executive leadership is actively engaged in the oversight and strategic direction of our cybersecurity and digital data protection programs. The senior executive leadership-level Cybersecurity Steering Committee ("CSC") is responsible for assessing cybersecurity risks, providing direction and oversight for risk mitigation action, and assisting the Audit Committee in overseeing the Company’s cybersecurity risks. The CSC also receives monthly reports on the Company's cybersecurity program and developments from our CISO and legal representatives. The
CSC is chaired by our CISO. The senior executive leadership members include the Chief Information & Infrastructure Officer; Chief Legal Officer; Executive Vice President and Chief Financial Officer; Vice President, Chief Compliance Officer and Corporate Secretary; and Chief Infrastructure & Performance Officer.
The CISO has over 25 years of business experience in information technology and cybersecurity and is a long-standing certified information systems security professional ("CISSP") with the International Information System Security Certification Consortium.
We have an Incident Response Team ("IRT") that consists primarily of representatives from the CFC, legal, corporate communications, finance, and other relevant stakeholders. The IRT follows the guidance as outlined in the IRP to respond to cybersecurity incidents and escalate as necessary to the CSC based on a defined severity matrix. Internal legal and finance stakeholders are responsible for assessing materiality of risks in consultation with the IRT, CSC, the CEO, and external advisors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Oversight responsibilities for our cybersecurity and digital security programs and risks lie with the Audit Committee of the Board. The Board is actively engaged in the oversight of our cybersecurity and digital security programs and oversees all operational, financial, strategic, and reputational risks with oversight of specific risks undertaken with the committee structure including risks related to cybersecurity, data security, and technology.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our programs are focused on building digital trust through sound oversight of cybersecurity and data privacy protections and the responsible use of data and technology. We operate a CFC, and we have a cross-functional approach to addressing cybersecurity-related risks through the functional compliance structures in our digital technology and legal organizations with oversight from the corporate audit and controllership functions. The cybersecurity and legal functions employ full-time resources in cybersecurity and privacy roles with expertise in managing cybersecurity and privacy compliance and risks and responding to incidents.
Our senior executive leadership is actively engaged in the oversight and strategic direction of our cybersecurity and digital data protection programs. The senior executive leadership-level Cybersecurity Steering Committee ("CSC") is responsible for assessing cybersecurity risks, providing direction and oversight for risk mitigation action, and assisting the Audit Committee in overseeing the Company’s cybersecurity risks. The CSC also receives monthly reports on the Company's cybersecurity program and developments from our CISO and legal representatives. The
CSC is chaired by our CISO. The senior executive leadership members include the Chief Information & Infrastructure Officer; Chief Legal Officer; Executive Vice President and Chief Financial Officer; Vice President, Chief Compliance Officer and Corporate Secretary; and Chief Infrastructure & Performance Officer.
Cybersecurity Risk Role of Management [Text Block]
The Audit Committee receives reports on our cybersecurity program and developments from our CISO at each of our regular meetings, which occur at least four times per year. These reports typically include analyses of recent cybersecurity threats and incidents at the Company and across the industry, as well as a review of our own security controls, assessments and program maturity, and risk mitigation status, as well as a review of our third-party service providers. Our digital technology, legal, and the corporate audit functions also routinely present to the Audit Committee on key cybersecurity topics and, on at least an annual basis, the Board receives reports on our cybersecurity program and developments from the CISO.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our senior executive leadership is actively engaged in the oversight and strategic direction of our cybersecurity and digital data protection programs. The senior executive leadership-level Cybersecurity Steering Committee ("CSC") is responsible for assessing cybersecurity risks, providing direction and oversight for risk mitigation action, and assisting the Audit Committee in overseeing the Company’s cybersecurity risks. The CSC also receives monthly reports on the Company's cybersecurity program and developments from our CISO and legal representatives. The
CSC is chaired by our CISO. The senior executive leadership members include the Chief Information & Infrastructure Officer; Chief Legal Officer; Executive Vice President and Chief Financial Officer; Vice President, Chief Compliance Officer and Corporate Secretary; and Chief Infrastructure & Performance Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
The CISO has over 25 years of business experience in information technology and cybersecurity and is a long-standing certified information systems security professional ("CISSP") with the International Information System Security Certification Consortium.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our programs are focused on building digital trust through sound oversight of cybersecurity and data privacy protections and the responsible use of data and technology. We operate a CFC, and we have a cross-functional approach to addressing cybersecurity-related risks through the functional compliance structures in our digital technology and legal organizations with oversight from the corporate audit and controllership functions. The cybersecurity and legal functions employ full-time resources in cybersecurity and privacy roles with expertise in managing cybersecurity and privacy compliance and risks and responding to incidents.
Our senior executive leadership is actively engaged in the oversight and strategic direction of our cybersecurity and digital data protection programs. The senior executive leadership-level Cybersecurity Steering Committee ("CSC") is responsible for assessing cybersecurity risks, providing direction and oversight for risk mitigation action, and assisting the Audit Committee in overseeing the Company’s cybersecurity risks. The CSC also receives monthly reports on the Company's cybersecurity program and developments from our CISO and legal representatives. The
CSC is chaired by our CISO. The senior executive leadership members include the Chief Information & Infrastructure Officer; Chief Legal Officer; Executive Vice President and Chief Financial Officer; Vice President, Chief Compliance Officer and Corporate Secretary; and Chief Infrastructure & Performance Officer.
The CISO has over 25 years of business experience in information technology and cybersecurity and is a long-standing certified information systems security professional ("CISSP") with the International Information System Security Certification Consortium.
We have an Incident Response Team ("IRT") that consists primarily of representatives from the CFC, legal, corporate communications, finance, and other relevant stakeholders. The IRT follows the guidance as outlined in the IRP to respond to cybersecurity incidents and escalate as necessary to the CSC based on a defined severity matrix. Internal legal and finance stakeholders are responsible for assessing materiality of risks in consultation with the IRT, CSC, the CEO, and external advisors.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
BASIS OF PRESENTATION
The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S." and such principles, "U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for annual financial information.
Consolidation The consolidated financial statements include the accounts of Baker Hughes and all of its subsidiaries and affiliates it controls or variable interest entities for which the Company has determined it is the primary beneficiary. All intercompany accounts and transactions have been eliminated.
Reclassification In the Company's consolidated financial statements and notes, certain amounts have been reclassified to conform with the current year presentation.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of any contingent assets or liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company bases its estimates and judgments on historical experience and on various other assumptions and information that it believes to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty, and accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained, and as the Company's operating environment changes. While the Company believes that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Estimates are used for, but are not limited to, determining the following: allowance for credit losses and inventory valuation reserves; recoverability of long-lived assets and certain equity investments; revenue recognition on long-term contracts; valuation of goodwill; useful lives used in depreciation and amortization; income taxes and related valuation allowances; accruals for contingencies; actuarial assumptions to determine costs and liabilities related to employee benefit plans; stock-based compensation expense; valuation of derivatives; and the fair value of assets acquired and liabilities assumed in acquisitions.
Foreign Currency
Foreign Currency
Assets and liabilities of non-U.S. operations with a functional currency other than the U.S. dollar have been translated into U.S. dollars using the Company's period-end exchange rates, and revenue, expenses, and cash flows have been translated at average rates for the respective periods. Any resulting translation gains and losses are included in other comprehensive income. The impact of remeasurement of monetary assets and liabilities denominated in currencies other than the functional currency of the Company or its subsidiaries is included in the consolidated statements of income.
Revenue from Sale of Equipment
Revenue from Sale of Equipment
Performance Obligations Satisfied Over Time
The Company recognizes revenue on agreements for sales of equipment manufactured to unique customer specifications, including long-term construction projects, on an over time basis, utilizing cost inputs as the
measurement criteria in assessing the progress toward completion. The Company's estimate of costs to be incurred to fulfill its promise to a customer is based on the Company's history of manufacturing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. The Company begins to recognize revenue on these contracts when the contract-specific inventory becomes customized for a customer, which is reflective of its initial transfer of control of the incurred costs. The Company provides for potential losses on any of these agreements when it is probable that it will incur the loss.
The Company's billing terms for these over time contracts vary, but are generally based on achieving specified milestones. The differences between the timing of the Company's revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to its contract asset or contract liability positions.
Performance Obligations Satisfied at a Point In Time
The Company recognizes revenue for non-customized equipment at the point in time that the customer obtains control of the good. Equipment for which the Company recognizes revenue at a point in time includes equipment manufactured on a standardized basis for sale to the market. The Company uses proof of delivery for certain large equipment with more complex logistics associated with the shipment, whereas the delivery of other equipment is generally determined based on historical data of transit times between regions.
On occasion the Company sells equipment with a right of return. The Company uses its accumulated experience to estimate and provide for such returns when it records the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, the Company recognizes revenue when it has concluded that the customer has control of the equipment and that acceptance has or is likely to occur.
The Company's billing terms for these point in time equipment contracts vary, but are generally based on shipment of the equipment to the customer.
Revenue from Sale of Services
Performance Obligations Satisfied Over Time
The Company sells product services under long-term product maintenance or extended warranty agreements in the Industrial & Energy Technology ("IET") segment. These agreements require the Company to maintain the customers' assets over the service agreement contract terms, which generally range from 10 to 20 years. In general, these are contractual arrangements to provide services, repairs, and maintenance of a covered unit (gas turbines for mechanical drive or power generation, primarily on liquefied natural gas ("LNG") applications). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on an other than straight-line basis. The Company recognizes related sales based on the extent of its progress toward completion measured by actual costs incurred in relation to total expected costs. The Company provides for any loss that it expects to incur on any of these agreements when that loss becomes probable. The Company utilizes historical customer data, prior product performance data, statistical analysis, third-party data, and internal management estimates to calculate contract-specific margins. In certain contracts, the total transaction price is variable based on customer utilization, which is excluded from the contract margin until the period in which the customer has utilized the services to appropriately reflect the revenue activity in the period earned. In addition, revenue for certain oilfield services is recognized on an over time basis as performed.
The Company's billing terms for these contracts are generally based on asset utilization (i.e. usage per hour) or the occurrence of a major maintenance event within the contract. The differences between the timing of the Company's revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to its contract asset or contract liability positions.
Performance Obligations Satisfied at a Point In Time
The Company sells certain tangible products, largely spare equipment, through its services business. The Company recognizes revenue for this equipment at the point in time that the customer obtains control of the good, which is at the point in time the Company delivers the spare part to the customer. The Company's billing terms for these point in time service contracts vary, but are generally based on shipment of the equipment to the customer.
Research and Development
Research and Development
Research and development costs are expensed as incurred and relate to the research and development of new products and services. Research and development costs were $600 million, $643 million, and $651 million for the years ended December 31, 2025, 2024, and 2023, respectively, net of related funding received from third parties.
Cash and Cash Equivalents
Cash and Cash Equivalents
Short-term investments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities.
Allowance for Credit Losses
Allowance for Credit Losses
The Company monitors its customers' payment history and current creditworthiness to determine that collectability of the related financial assets is reasonably assured. The Company also considers the overall business climate in which its customers operate. The Company does not generally require collateral in support of its current receivables, but it may require payment in advance or security in the form of a letter of credit or a bank guarantee. For accounts receivable, a loss allowance matrix is utilized to measure lifetime expected credit losses. The matrix contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations.
Inventories
Inventories
All inventories are stated at the lower of cost or net realizable values and they are measured on a first-in, first-out ("FIFO") basis or average cost basis. As necessary, the Company records provisions and maintains reserves for excess, slow moving, and obsolete inventory. To determine these reserve amounts, the Company regularly reviews inventory quantities on hand and compares them to estimates of future product demand, market conditions, production requirements, and technological developments.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment ("PP&E") is initially stated at cost and is depreciated over its estimated economic life. Subsequently, PP&E is measured at cost less accumulated depreciation, which is generally provided by using the straight-line method over the estimated economic lives of the individual assets, and impairment losses. The Company manufactures a substantial portion of its tools and equipment in the Oilfield Services & Equipment ("OFSE") segment and the cost of these items, which includes direct and indirect manufacturing costs, is capitalized in inventory and subsequently moved to PP&E.
Goodwill and Other Long-Lived Assets
Goodwill and Other Long-Lived Assets
The Company performs an annual impairment test of goodwill on a qualitative or quantitative basis for each of its reporting units as of July 1, in conjunction with its annual strategic planning process, or more frequently when circumstances indicate an impairment may exist at the reporting unit level. When performing the annual impairment test, the Company has the option of first performing a qualitative assessment to determine the existence of events and circumstances that would lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If such a conclusion is reached, the Company would then be required to perform a quantitative impairment assessment of goodwill. However, if the assessment leads to a determination that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then no further assessments are required. A quantitative assessment for the determination of impairment is made by comparing the
carrying amount of each reporting unit with its fair value, which is generally calculated using a combination of market, comparable transactions, and discounted cash flow approaches. Potential impairment indicators include, but are not limited to, (i) the results of the Company's most recent annual or interim impairment testing, in particular the magnitude of the excess of fair value over carrying value observed; (ii) downward revisions to internal forecasts, and the magnitude thereof, if any; and (iii) declines in the Company's market capitalization below its book value, and the magnitude and duration of those declines, if any.
Other Intangible Assets
The Company amortizes the cost of other intangible assets over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life.
Impairment of Other Long-Lived Assets
The Company reviews PP&E, intangible assets, and certain other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, and at least annually for indefinite-lived intangible assets. When testing for impairment, the Company groups its long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of recoverability is made based upon the estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related assets.
Leases
Leases
The Company enters into various contractual arrangements for the right to use facilities and equipment. At contract inception, management evaluates whether each of these arrangements contains a lease and classifies all identified leases as either operating or finance. If the arrangement is subsequently modified, the classification is re-evaluated. Upon commencement of the lease, management recognizes a lease liability and corresponding right-of-use ("ROU") asset. Lease assets are tested for impairment in the same manner as other long-lived assets.
Financial Instruments
Financial Instruments
The Company's financial instruments include cash and equivalents, current receivables, investments, accounts payables, short and long-term debt, and derivative financial instruments.
The Company monitors its exposure to various business risks including commodity prices, interest rates, and foreign currency exchange rates, and it regularly uses derivative financial instruments to manage these risks. At the inception of a new derivative, the Company designates the derivative as a hedge, or it determines the derivative to be undesignated as a hedging instrument. The Company documents the relationships between the hedging instruments and the hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company assesses whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged item at both the inception of the hedge and on an ongoing basis.
The Company records all derivatives as of the end of its reporting period in the consolidated statements of financial position at fair value. For the forward contracts held as undesignated hedging instruments, the Company records the changes in fair value in the consolidated statements of income along with the change in the fair value, related to foreign exchange movements, of the hedged item. Changes in the fair value of forward contracts designated as cash flow hedging instruments are recognized in other comprehensive income until the hedged item is recognized in earnings.
Fair Value Measurements
Fair Value Measurements
For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date.
Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. Preference is given to observable inputs and the Company maintains policies and procedures to identify, monitor and assess the reasonableness of these inputs to the valuation. These two types of inputs create the following fair value hierarchy:
•Level 1 - Quoted prices for identical instruments in active markets.
•Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
•Level 3 - Significant inputs to the valuation model are unobservable.
Recurring Fair Value Measurements
Derivatives
When the Company has Level 1 derivatives, which are traded either on exchanges or liquid markets, the Company uses closing prices for valuation. The majority of the Company's derivatives are valued using internal models and are included in Level 2. These internal models maximize the use of market observable inputs, including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent foreign currency and commodity forward contracts for the Company.
Investments in Debt and Equity Securities
When available, the Company uses quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities.
For investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), the Company uses pricing models and observable inputs that are consistent with what other market participants would use, and these are included in Level 2. The inputs and assumptions to the models are derived from market observable sources, including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. When the Company uses valuations that are based on significant unobservable inputs, it classifies the investment securities in Level 3.
Non-Recurring Fair Value Measurements
Certain assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments only in certain circumstances. These assets can include long-lived assets that have been reduced to fair value when they are held for sale, equity securities without readily determinable fair value, and equity method investments and long-lived assets that are written down to fair value when they are impaired.
Investments in Equity Securities
Investments in Equity Securities
Investments in equity securities (in which the Company does not have a controlling financial interest or significant influence, most often because it holds a voting interest of 0% to 20%) with readily determinable fair values, are measured at fair value with changes recognized in earnings and reported in "Other (income) expense, net" in the consolidated statements of income. Equity securities that do not have readily determinable fair values are recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar equity securities of the same issuer. These changes are recorded in "Other (income) expense, net" in the consolidated statements of income.
Equity method investments are equity holdings in entities in which the Company does not have a controlling financial interest, but over which it has significant influence, most often because it holds a voting interest of 20% to 50%. At December 31, 2025 and 2024, the aggregate carrying amount of the Company's equity method investments
was $1,117 million and $1,080 million, respectively. The results of the Company's equity method investments are presented in the consolidated statements of income as follows: (i) if the investment is integral to the Company's operations, their results are included in Cost of Sales and (ii) if the investment is not integral to the Company's operations, their results are included in "Other (income) expense, net." Investments in, and advances to, equity method investments are presented on a one-line basis in "All other assets" in the consolidated statements of financial position.
Income Taxes
Income Taxes
The Company accounts for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and the tax base of assets and liabilities based on enacted tax rates expected to be in effect when taxes are actually paid or recovered, as well as for net operating losses and tax credit carryforwards. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period in which such change is enacted. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes is not more likely than not to be realized.
Significant judgment is required in determining the Company's tax expense and in evaluating its tax positions, including evaluating uncertainties. The Company's tax filings are subject to audit by the tax authorities in the jurisdictions where it conducts business. These audits may result in assessments of additional taxes that are resolved with the tax authorities or through the courts. The Company has provided for the amounts that it believes will ultimately result from these proceedings. The Company recognizes uncertain tax positions that are "more likely than not" to be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, the Company measures the amount of tax benefit based on the largest amount of tax benefit that has a greater than 50% chance of being realized in a final settlement with the relevant authority. The Company classifies interest and penalties associated with uncertain tax positions as income tax expense. The effects of tax adjustments and settlements from taxing authorities are presented in the financial statements in the period they are finalized.
Prior to 2023, Baker Hughes Holdings LLC ("BHH LLC"), the Company's wholly owned primary operating subsidiary, was treated as a partnership for U.S. tax purposes. As a partnership, BHH LLC was not subject to U.S. federal income tax. Effective December 30, 2023, the Company completed a reorganization that resulted in BHH LLC no longer being treated as a partnership for U.S. tax purposes and is now included and taxed as part of the Company's consolidated U.S. tax return.
Supply Chain Finance Programs
Supply Chain Finance Programs
Under the supply chain finance ("SCF") programs, administered by a third party, the Company's suppliers are given the opportunity to sell receivables from the Company to participating financial institutions at their sole discretion at a rate that leverages the Company's credit rating and thus might be more beneficial to the Company's suppliers. The Company's responsibility is limited to making payment on the terms originally negotiated with the Company's supplier, regardless of whether the supplier sells its receivable to a financial institution. The range of payment terms the Company negotiates with its suppliers is consistent, irrespective of whether a supplier participates in the program.
New Accounting Standards Adopted and To Be Adopted
NEW ACCOUNTING STANDARDS ADOPTED
The Company has adopted ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"). See "Note 11. Income Taxes" for the enhanced disclosures associated with the adoption of ASU 2023-09. The adoption of this standard did not have an impact on the Company's operating results.
NEW ACCOUNTING STANDARDS TO BE ADOPTED
In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures" ("ASU 2024-03"), which enhances the disclosures required for certain expense captions in the Company's annual and interim consolidated financial statements. ASU 2024-03 is effective prospectively or retrospectively for fiscal years beginning after December 15, 2026 and for interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its disclosures.
In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software" ("ASU 2025-06"). Under the new guidance, internal-use software costs are capitalized when management has authorized and committed to funding the project and it is probable that the software will be completed and used for its intended function. ASU 2025-06 is effective for the Company for annual reporting periods beginning after December 15, 2027, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its accounting for internal-use software.
All other new accounting pronouncements that have been issued, but not yet effective are currently being evaluated and at this time are not expected to have a material impact on the Company's financial position or results of operations.
v3.25.4
CURRENT RECEIVABLES (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of Current Receivables
Current receivables consist of the following at December 31:
20252024
Customer receivables$5,558 $5,945 
Other1,360 1,409 
Total current receivables6,918 7,354 
Less: Allowance for credit losses(277)(232)
Total current receivables, net$6,641 $7,122 
The following table presents the change in allowance for credit losses:
20252024
Balance at beginning of year$232 $350 
Provision80 77 
Write-offs(14)(153)
Prior year recoveries(23)(35)
Other2 (7)
Balance at end of year$277 $232 
v3.25.4
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory, Net [Abstract]  
Schedule of Inventories, Net of Reserves
Inventories, net of reserves of $381 million and $390 million in 2025 and 2024, respectively, consist of the following at December 31:
20252024
Finished goods$2,381 $2,494 
Work in process and raw materials2,573 2,460 
Total inventories, net$4,954 $4,954 
v3.25.4
PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment consist of the following at December 31:
Useful Life20252024
Land and improvements
8 - 10 years (1)
$297 $297 
Buildings, structures and related equipment
5 - 40 years
2,531 2,347 
Machinery, equipment and other
1 - 20 years
9,184 8,539 
Total cost12,012 11,183 
Less: Accumulated depreciation
 (6,686)(6,056)
Property, plant and equipment, less accumulated depreciation
 $5,326 $5,127 
(1)Useful life excludes land.
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying value of goodwill are detailed below by segment:
Oilfield Services & EquipmentIndustrial & Energy TechnologyTotal
Balance at December 31, 2023, gross
$19,817 $4,850 $24,667 
Accumulated impairment at December 31, 2023
(18,276)(254)(18,530)
Balance at December 31, 2023
1,541 4,596 6,137 
Currency exchange and other
6 (65)(59)
Balance at December 31, 2024
1,547 4,531 6,078 
Acquisitions— 254 254 
Currency exchange and other9 149 158 
Total1,556 4,934 6,490 
Classified as held for sale
— (422)(422)
Balance at December 31, 2025
$1,556 $4,512 $6,068 
Schedule of Finite-lived Intangible Assets
Intangible assets consist of the following at December 31:
20252024
Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer relationships$2,186 $(986)$1,200 $1,921 $(883)$1,038 
Technology1,217 (987)230 1,248 (981)267 
Trade names and trademarks306 (208)98 290 (196)94 
Capitalized software1,636 (1,219)417 1,522 (1,172)350 
Finite-lived intangible assets5,345 (3,400)1,945 4,981 (3,232)1,749 
Indefinite-lived intangible assets2,152 — 2,152 2,202 — 2,202 
Total intangible assets$7,497 $(3,400)$4,097 $7,183 $(3,232)$3,951 
Schedule of Indefinite-lived Intangible Assets
Intangible assets consist of the following at December 31:
20252024
Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer relationships$2,186 $(986)$1,200 $1,921 $(883)$1,038 
Technology1,217 (987)230 1,248 (981)267 
Trade names and trademarks306 (208)98 290 (196)94 
Capitalized software1,636 (1,219)417 1,522 (1,172)350 
Finite-lived intangible assets5,345 (3,400)1,945 4,981 (3,232)1,749 
Indefinite-lived intangible assets2,152 — 2,152 2,202 — 2,202 
Total intangible assets$7,497 $(3,400)$4,097 $7,183 $(3,232)$3,951 
Schedule of Estimated Amortization Expense
Estimated amortization expense for each of the subsequent five fiscal years is expected to be as follows:
YearEstimated Amortization Expense
2026$241 
2027220 
2028198 
2029168 
2030142 
v3.25.4
CONTRACT AND OTHER DEFERRED ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Assets Contract assets consist of the following at December 31:
20252024
Long-term equipment contracts and other service agreements$1,123 $1,247 
Long-term product service agreements330 346 
Contract assets (total revenue in excess of billings)1,453 1,593 
Deferred inventory costs141 124 
Other costs to fulfill or obtain a contract
26 13 
Contract and other deferred assets$1,620 $1,730 
Contract liabilities consist of the following at December 31:
20252024
Equipment contracts and other service agreements$5,249 $5,047 
Long-term product service agreements507 503 
Progress collections5,756 5,550 
Deferred income148 122 
Progress collections and deferred income (contract liabilities)$5,904 $5,672 
v3.25.4
PROGRESS COLLECTIONS AND DEFERRED INCOME (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Contract assets consist of the following at December 31:
20252024
Long-term equipment contracts and other service agreements$1,123 $1,247 
Long-term product service agreements330 346 
Contract assets (total revenue in excess of billings)1,453 1,593 
Deferred inventory costs141 124 
Other costs to fulfill or obtain a contract
26 13 
Contract and other deferred assets$1,620 $1,730 
Contract liabilities consist of the following at December 31:
20252024
Equipment contracts and other service agreements$5,249 $5,047 
Long-term product service agreements507 503 
Progress collections5,756 5,550 
Deferred income148 122 
Progress collections and deferred income (contract liabilities)$5,904 $5,672 
v3.25.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Expense
The following table presents operating lease expense:
Operating Lease Expense202520242023
Short-term lease$492 $511 $503 
Long-term fixed lease272 292 276 
Long-term variable lease54 76 73 
Total operating lease expense$818 $879 $852 
Schedule of Maturities of Operating Leases Liabilities
As of December 31, 2025, maturities of operating lease liabilities are as follows:
YearOperating Leases
2026$204 
2027130 
202892 
202970 
2030
47 
Thereafter201 
Total lease payments744 
Less: imputed interest129 
Total$615 
Schedule of Liabilities
Amounts recognized in the consolidated statements of financial position for operating leases consist of the following:
20252024
All other current liabilities$173 $198 
All other liabilities442 475 
Total$615 $673 
v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Borrowings
The carrying value of the Company's short-term and long-term debt consists of the following at December 31:
20252024
Amount
Effective Interest
Rate (1)
Amount
Effective Interest
Rate (1)
Short-term and current portion of long-term debt
2.061% Senior Notes due December 2026
$599 2.4 %$— — %
Other debt90 4.5 %53 4.6 %
Total short-term and current portion of long-term debt689 53 
Long-term debt  
2.061% Senior Notes due December 2026
— — %599 2.4 %
3.337% Senior Notes due December 2027
1,324 4.9 %1,302 5.4 %
6.875% Notes due January 2029 (2)
255 4.0 %262 3.9 %
3.138% Senior Notes due November 2029
524 3.2 %523 3.2 %
4.486% Senior Notes due May 2030
498 4.6 %498 4.6 %
5.125% Senior Notes due September 2040 (2)
1,269 4.2 %1,275 4.2 %
4.080% Senior Notes due December 2047
1,338 4.1 %1,338 4.1 %
Other long-term debt190 4.0 %173 4.2 %
Total long-term debt5,398 5,970 
Total debt$6,087 $6,023 
(1)Effective interest rate is based on the carrying value including issuance costs and interest rate swaps.
(2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.
Schedule of Maturities of Debt
Maturities of debt for each of the five years in the period ending December 31, 2030, and in the aggregate thereafter, are listed in the table below:
20262027202820292030Thereafter
Total debt
$689 $1,387 $55 $821 $514 $2,621 
v3.25.4
EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plan Funded Status of Defined Benefit Plan (Pension Benefits)
Below is the reconciliation of the beginning and ending balances of benefit obligations, fair value of plan assets, and the funded status of the Company's defined benefit plans ("Pension Benefits").
 Pension Benefits

20252024
Change in benefit obligation:
Benefit obligation at beginning of year$2,084 $2,443 
Service cost18 16 
Interest cost106 107 
Actuarial (gain)/loss (1)
19 (148)
Benefits paid(107)(92)
Settlements(26)(227)
Settlement due to plan termination (2)
(117)— 
Foreign currency translation adjustments99 (15)
Benefit obligation at end of year2,076 2,084 
Change in plan assets:
Fair value of plan assets at beginning of year1,708 2,080 
Actual return on plan assets28 (73)
Employer contributions54 66 
Benefits paid(107)(92)
Settlements(26)(227)
Settlement due to plan termination (2)
(117)— 
Other(2)(39)
Foreign currency translation adjustments75 (7)
Fair value of plan assets at end of year1,613 1,708 
Funded status - underfunded at end of year$(463)$(376)
Accumulated benefit obligation$2,030 $2,039 
(1)The actuarial gain in 2024 was primarily related to a change in the discount rate used to measure the benefit obligation for the Company's plans.
(2)Plan termination relates to the termination of one of the Company's fully funded frozen U.S. defined benefit plans that was initiated in 2024.
Schedule of Amounts Recognized in the Consolidated Balance Sheets
The amounts recognized in the consolidated statements of financial position consist of the following at December 31:
 Pension Benefits

20252024
Noncurrent assets$— $43 
Current liabilities(77)(28)
Noncurrent liabilities(386)(391)
Net amount recognized$(463)$(376)
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
Information for the plans with ABOs and PBOs in excess of plan assets consists of the following at December 31:

Pension Benefits

20252024
Projected benefit obligation$2,076 $1,180 
Accumulated benefit obligation$2,030 $1,135 
Fair value of plan assets$1,613 $761 
Schedule of Projected Benefit Obligation in Excess of Plan Assets
Information for the plans with ABOs and PBOs in excess of plan assets consists of the following at December 31:

Pension Benefits

20252024
Projected benefit obligation$2,076 $1,180 
Accumulated benefit obligation$2,030 $1,135 
Fair value of plan assets$1,613 $761 
Schedule of Net Period Cost
The components of net periodic cost consist of the following:
Pension Benefits
202520242023
Service cost$18 $16 $15 
Interest cost106 107 116 
Expected return on plan assets(86)(118)(102)
Amortization of prior service credit
1 1 1 
Amortization of net actuarial loss19 18 19 
Curtailment / settlement loss 28 20 (16)
Net periodic cost$85 $44 $33 
Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations
Weighted average assumptions used to determine benefit obligations for these plans are as follows:
 Pension Benefits

20252024
Discount rate4.74 %5.22 %
Rate of compensation increase3.32 %3.31 %
Interest crediting rate3.20 %4.46 %
Schedule of Weighted Average Assumptions Used to Determine Net Periodic Cost
Weighted average assumptions used to determine net periodic cost for these plans are as follows:
Pension Benefits
202520242023
Discount rate5.22 %4.54 %4.89 %
Expected long-term return on plan assets
5.18 %5.97 %5.05 %
Interest crediting rate4.46 %3.98 %4.31 %
Schedule of Accumulated Other Comprehensive Loss
The amount recorded before-tax in accumulated other comprehensive loss related to the Company's defined benefit plans consists of the following at December 31:
 Pension Benefits

20252024
Net actuarial loss$384 $338 
Net prior service cost12 14 
Total$396 $352 
Schedule of Fair Values of the Assets in U.S. Plan
The table below presents the fair value of the plan assets at December 31:
20252024
Debt securities
Fixed income and cash investment funds$190 $1,253 
Equity securities
Global equity securities (1)
— 73 
U.S. equity securities (1)
— 107 
Insurance contracts1,224 92 
Real estate2 3 
Private equities39 45 
Other investments (2)
158 135 
Total plan assets$1,613 $1,708 
(1)Includes direct investments and investment funds.
(2)Consists primarily of asset allocation fund investments.
Schedule of Expected Future Benefit Payments
The following table presents the expected benefit payments for Pension Benefits over the next 10 years. For funded Company sponsored plans, the benefit payments are made by the respective pension trust funds.
YearPension Benefits
2026$486 
202783 
202888 
202994 
203097 
2031-2035
551 
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes
The provision for income taxes consists of the following:
2025
Current:
U.S. federal
$6 
U.S. state
19 
Foreign930 
Total current955 
Deferred:
U.S. federal
(87)
U.S. state
(24)
Foreign(591)
Total deferred(702)
Provision for income taxes$253 
20242023
Current:
U.S.$39 $33 
Foreign889 711 
Total current928 744 
Deferred:
U.S.(556)(27)
Foreign(115)(32)
Total deferred(671)(59)
Provision for income taxes$257 $685 
Schedule of Geographic Sources of Income (Loss) Before Income Taxes
The geographic sources of income before income taxes consist of the following:
202520242023
U.S.$911 $1,099 $882 
Foreign1,966 2,166 1,773 
Income before income taxes
$2,877 $3,265 $2,655 
Schedule of Difference Between Provision and U.S. Statutory Tax Rate
The reconciliation of the tax provision at the U.S. federal statutory rate to income tax expense is as follows:
2025
%
Income before income taxes
$2,877 
U.S. federal statutory tax rate
604 21.0 %
State and local income taxes (1)
(2)(0.1)%
Federal
Effect of cross-border tax laws
FDII deduction
(73)(2.5)%
Other37 1.3 %
Tax credits
Foreign tax credits
(46)(1.6)%
Other credits
(26)(0.9)%
Changes in valuation allowances
55 1.9 %
Nontaxable or nondeductible items
Other(4)(0.1)%
Other adjustments

Impact of transactions (2)
(210)(7.3)%
Other(12)(0.4)%
Foreign tax effects
CHINA
34 1.1 %
ITALY
State and local income taxes
39 1.4 %
Other(5)(0.2)%
SAUDI ARABIA
Withholding taxes
35 1.2 %
Other
(1)— %
SWITZERLAND
  Changes in valuation allowances
(33)(1.1)%
Taxable dividend
37 1.3 %
Other
10 0.3 %
UNITED ARAB EMIRATES
Effect of rates different than statutory
(50)(1.7)%
Other(7)(0.3)%
UNITED KINGDOM
  Changes in valuation allowances (3)
(432)(15.0)%
Other7 0.3 %
Other foreign jurisdictions
213 7.3 %
Changes in unrecognized tax benefits
83 2.9 %
Income tax expense
$253 8.8 %
(1)For the year ended December 31, 2025, the State and local income taxes are primarily related to the states of Louisiana, Oklahoma, Texas, and Alaska.
(2)For the year ended December 31, 2025, the Impact of transactions are associated with the pre-steps for the transactions discussed in "Note 22. Acquisitions, Dispositions, and Businesses Held for Sale."
(3)For the year ended December 31, 2025, this amount includes $308 million related to the release of a valuation allowance for certain deferred tax assets.
20242023
Income before income taxes
$3,265 $2,655 
Taxes at the U.S. federal statutory income tax rate
686 558 
Effect of foreign operations
269 112 
Tax impact of partnership structure
(40)(103)
Change in valuation allowances (1)
(625)53 
Tax expense (benefit) due to unrecognized tax benefits38 (5)
Other — net
(71)70 
Provision for income taxes
$257 $685 
Actual income tax rate7.9 %25.8 %
(1)For December 31, 2024 and 2023, this amount was reduced by $664 million and $81 million, respectively, related to the release of a valuation allowance for certain deferred tax assets.
Schedule of Income Taxes Paid Net of Refunds Received
The following table presents income taxes paid (net of refunds received) for the year ended December 31:
2025
U.S. federal
$11 
U.S. state & local
32 
Foreign
Italy- federal
286 
Brazil
101 
Germany- federal
80 
Other foreign jurisdictions
646 
Total foreign
1,113 
Total income taxes paid, net
$1,156 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities as of December 31 consist of the following:
20252024
Deferred tax assets:
Operating & capital loss carryforwards$3,273 $3,442 
Tax credit & other carryforwards734 772 
Investment in partnerships & subsidiaries
324 276 
Property, plant and equipment
248 250 
Employee benefits290 278 
Goodwill and other intangible assets
442 198 
Receivables127 150 
Inventory114 150 
Other
544 376 
Total deferred income tax asset 6,096 5,892 
Valuation allowances
(3,498)(3,908)
Total deferred income tax asset after valuation allowance2,598 1,984 
Deferred tax liabilities:
Indefinite-lived intangible assets
(382)(377)
Fair value of derivative financial instruments
(150)(166)
Other
(193)(240)
Total deferred income tax liability
(725)(783)
Net deferred tax asset$1,873 $1,201 
Schedule of Unrecognized Tax Benefits Roll Forward
The following table presents the changes in the Company's gross unrecognized tax benefits included in the consolidated statements of financial position.
Asset / (Liability)20252024
Balance at beginning of year$(455)$(467)
Additions for tax positions of the current year(12)(17)
Additions for tax positions of prior years(193)(51)
Reductions for tax positions of prior years31 28 
Settlements with tax authorities61 24 
Lapse of statute of limitations43 28 
Balance at end of year$(525)$(455)
Summary of Valuation Allowance The following table presents the change in the valuation allowances during the year:
20252024
Balance at the beginning of the year
$3,908 $4,416 
Releases, net of current year activity
(376)(625)
Other
(34)117 
Balance at end of year
$3,498 $3,908 
v3.25.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes of RSUs Outstanding and Related Information
The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices):
Number of
Units		Weighted Average
Grant Date Fair
Value Per Unit
Unvested balance at December 31, 2024
11,494 $29.06 
Granted4,372 44.48 
Vested(5,586)29.05 
Forfeited(973)35.35 
Unvested balance at December 31, 2025
9,307 $35.65 
Schedule of Changes of PSUs Outstanding and Related Information
The following table presents the changes in PSUs outstanding and related information (in thousands, except per unit prices):
Number of
Units		Weighted Average
Grant Date Fair
Value Per Unit
Unvested balance at December 31, 2024
2,542 $32.45 
Granted1,224 41.08 
Vested(1,328)32.24 
Forfeited(344)36.93 
Unvested balance at December 31, 2025
2,094 $36.88 
Schedule of Changes in Stock Options Outstanding
The following table presents the changes in stock options outstanding and related information (in thousands, except per option prices):
Number of
Options		Weighted Average
Exercise Price
Per Option
Outstanding at December 31, 2024
1,425 $31.99 
Exercised(581)27.54 
Outstanding and exercisable at December 31, 2025
844 $35.04 
v3.25.4
EQUITY (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Changes in Number of Shares Outstanding
The following table presents the changes in the number of shares outstanding (in thousands):
Class A
Common Stock
20252024
Balance at beginning of year989,646 997,709 
Issue of shares upon vesting of restricted stock units (1)
4,777 4,975 
Issue of shares on exercise of stock options (1)
581 389 
Issue of shares for employee stock purchase plan
1,561 1,814 
Repurchase and cancellation of Class A common stock(9,751)(15,241)
Balance at end of year986,815 989,646 
(1)    Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.
Schedule of Accumulated Other Comprehensive Loss
The following tables present the changes in accumulated other comprehensive loss, net of tax:
Foreign Currency Translation AdjustmentsCash Flow HedgesBenefit PlansAccumulated Other Comprehensive Loss
Balance at December 31, 2023$(2,513)$(6)$(277)$(2,796)
Other comprehensive income (loss) before reclassifications(350)9 (46)(387)
Amounts reclassified from accumulated other comprehensive loss
— (11)32 21 
Deferred taxes
— 1 — 1 
Other comprehensive loss
(350)(1)(14)(365)
Balance at December 31, 2024(2,863)(7)(291)(3,161)
Other comprehensive income (loss) before reclassifications
528 10 (90)448 
Amounts reclassified from accumulated other comprehensive loss
— — 45 45 
Deferred taxes
— — 17 17 
Other comprehensive income (loss)528 10 (28)510 
Less: Other comprehensive income attributable to noncontrolling interests
1 — — 1 
Balance at December 31, 2025$(2,336)$3 $(319)$(2,652)
v3.25.4
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income per Share
Basic and diluted net income per share of Class A common stock is presented below:
(In millions, except per share amounts)202520242023
Net income$2,624 $3,008 $1,970 
Less: Net income attributable to noncontrolling interests36 29 27 
Net income attributable to Baker Hughes Company$2,588 $2,979 $1,943 
Weighted average shares outstanding:
Class A basic
988 994 1,008 
Class A diluted
994 1,001 1,015 
Net income per share attributable to common stockholders:
Class A basic
$2.62 $3.00 $1.93 
Class A diluted
$2.60 $2.98 $1.91 
v3.25.4
FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The Company's assets and liabilities measured at fair value on a recurring basis consist of derivative instruments and investment securities.
20252024
Level 1Level 2Level 3Net BalanceLevel 1Level 2Level 3Net Balance
Assets   
Derivatives
$— $22 $— $22 $— $11 $— $11 
Investment securities1,217 — 24 1,241 1,282 — 2 1,284 
Total assets1,217 22 24 1,263 1,282 11 2 1,295 
Liabilities   
Derivatives
— (33)— (33)— (64)— (64)
Total liabilities$— $(33)$— $(33)$— $(64)$— $(64)
Schedule of Investment Securities Classified as Available for Sale
20252024
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Investment securities (1)
   
Non-U.S. debt securities (2)
$24 $— $— $24 $3 $— $— $3 
Equity securities578 666 (27)1,217 544 737 — 1,281 
Total$602 $666 $(27)$1,241 $547 $737 $— $1,284 
(1)Net gains (losses) recorded to earnings related to these securities were $(103) million, $341 million, and $405 million for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)As of December 31, 2025, the Company's non-U.S. debt securities are classified as available for sale securities and mature in approximately one year.
Schedule of Derivatives The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.
 20252024
Assets(Liabilities)Assets(Liabilities)
Derivatives accounted for as hedges
Currency exchange contracts
$— $— $2 $(2)
Interest rate swap contracts9 (24)— (45)
Derivatives not accounted for as hedges
Currency exchange contracts and other
13 (9)9 (17)
Total derivatives$22 $(33)$11 $(64)
v3.25.4
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Segment Revenue
The series of tables below present the Company's revenue disaggregated by these categories.
Total Revenue202520242023
Well Construction$3,646 $4,145 $4,387 
Completions, Intervention, and Measurements
3,750 4,154 4,170 
Production Solutions3,806 3,860 3,854 
Subsea & Surface Pressure Systems3,122 3,470 2,950 
Oilfield Services & Equipment14,324 15,628 15,361 
Gas Technology Equipment
6,619 5,693 4,232 
Gas Technology Services
3,028 2,797 2,600 
Total Gas Technology9,647 8,490 6,832 
Industrial Products
1,991 2,040 1,962 
Industrial Solutions
1,123 1,065 983 
Controls (1)
— — 41 
Total Industrial Technology3,114 3,105 2,987 
Climate Technology Solutions
647 605 326 
Industrial & Energy Technology13,409 12,201 10,145 
Total$27,733 $27,829 $25,506 
(1)The sale of the Company's controls business was completed in April 2023.
Schedule of Revenue by Geographic Region
Oilfield Services & Equipment Geographic Revenue202520242023
North America$3,773 $3,955 $4,116 
Latin America2,423 2,609 2,761 
Europe/CIS/Sub-Saharan Africa2,455 3,250 2,655 
Middle East/Asia5,673 5,814 5,829 
Oilfield Services & Equipment$14,324 $15,628 $15,361 
v3.25.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information
Summarized financial information for the Company's segments is shown in the following tables.
2025
OFSE
IET
Total
Revenue
$14,324 $13,409 $27,733 
Cost of goods and services sold
(11,532)(9,594)(21,126)
Research and development costs
(241)(359)(600)
Selling, general and administrative(876)(1,215)(2,091)
Other income (expense)
11 8 19 
Add: Depreciation and amortization
932 233 1,165 
Segment EBITDA
$2,618 $2,482 $5,100 
2024
OFSE
IET
Total
Revenue
$15,628 $12,201 $27,829 
Cost of goods and services sold(12,448)(8,738)(21,186)
Research and development costs
(260)(383)(643)
Selling, general and administrative(932)(1,250)(2,182)
Add: Depreciation and amortization
893 220 1,113 
Segment EBITDA
$2,881 $2,050 $4,931 
2023
OFSE
IET
Total
Revenue
$15,361 $10,145 $25,506 
Cost of goods and services sold
(12,282)(7,220)(19,502)
Research and development costs
(278)(373)(651)
Selling, general and administrative(1,055)(1,242)(2,297)
Add: Depreciation and amortization
849 217 1,066 
Segment EBITDA
$2,595 $1,527 $4,121 
Reconciliation of segment EBITDA to Net Income Attributable to Baker Hughes Company:
202520242023
OFSE
$2,618 $2,881 $2,595 
IET
2,482 2,050 1,527 
Total segment5,100 4,931 4,121 
Corporate costs (1)
(318)(340)(359)
Inventory impairment (2)
(22)(73)(35)
Restructuring (3)
(215)(260)(313)
Other income (expense), net (4)
(262)341 544 
Depreciation and amortization (3)
(1,184)(1,136)(1,087)
Interest expense, net(222)(198)(216)
Income before income taxes
2,877 3,265 2,655 
Provision for income taxes
(253)(257)(685)
Net Income
2,624 3,008 1,970 
Less: Net income attributable to noncontrolling interests36 29 27 
Net income attributable to Baker Hughes Company
$2,588 $2,979 $1,943 
(1)Corporate costs are primarily reported in "Selling, general and administrative" in the consolidated statements of income and exclude $23 million, $23 million, and $21 million of depreciation and amortization for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)Charges for inventory impairments are reported in "Cost of goods sold" in the consolidated statements of income.
(3)For the year ended December 31, 2025, $4 million of accelerated depreciation expense related to certain PP&E was recorded in "Restructuring" in the consolidated statements of income. See "Note 20. Restructuring" for further information.
(4)Other income (expense), net excludes immaterial amounts recorded within Segment EBITDA and corporate costs for the years ended December 31, 2025. See "Note 21. Other (Income) Expense, Net" for further information.
The following table presents total assets at December 31:
Assets
20252024
OFSE
$18,744 $18,781 
IET
14,934 13,838 
Total segment33,678 32,619 
Corporate and eliminations (1)
7,203 5,744 
Total $40,881 $38,363 
(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 for the year ended December 31:
Depreciation and amortization
202520242023
OFSE
$932 $893 $849 
IET
233 220 217 
Total segment
1,165 1,113 1,066 
Corporate23 23 21 
Total (1)
$1,188 $1,136 $1,087 
(1)For the year ended December 31, 2025, total depreciation and amortization includes $4 million of accelerated depreciation expense, recorded in "Restructuring" in the consolidated statements of income, related to the OFSE segment.
The following table presents capital expenditures for the year ended December 31:
Capital expenditures
202520242023
OFSE
$887 $954 $960 
IET
325 284 229 
Total segment
1,212 1,238 1,189 
Corporate61 40 35 
Total$1,273 $1,278 $1,224 
Schedule of Revenues and Property, Plant and Equipment, Net
The following table presents consolidated revenue based on the location to which the product is shipped or the services are performed. Other than the U.S., no other country accounted for more than 10% of the Company's consolidated revenue during the periods presented.
Revenue202520242023
U.S.$7,700 $7,383 $6,557 
Non-U.S.20,033 20,446 18,949 
Total$27,733 $27,829 $25,506 
The following table presents net property, plant and equipment by its geographic location at December 31:
Property, plant and equipment - net20252024
U.S.$1,647 $1,794 
Non-U.S.3,679 3,333 
Total$5,326 $5,127 
v3.25.4
RESTRUCTURING (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Impairment Charges
The following table presents restructuring charges by the impacted segment:
202520242023
Oilfield Services & Equipment$121 $206 $148 
Industrial & Energy Technology (1)
84 13 98 
Corporate10 41 67 
Total$215 $260 $313 
(1)For the year ended December 31, 2024, $6 million of additional restructuring charges are included within segment EBITDA and reported in "Selling, general and administrative" in the consolidated statements of income.
The following table presents restructuring charges by type and includes gains on the dispositions of certain property, plant and equipment as a consequence of exit activities:
202520242023
Employee-related termination expenses$122 $153 $270 
Long-lived asset impairments
53 77 (2)
Contract termination fees13 2 1 
Other incremental costs27 34 44 
Total$215 $266 $313 
v3.25.4
OTHER (INCOME) AND EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Nonoperating Income (Expense)
Other (income) expense, net consists of the following:
202520242023
Change in fair value of equity securities
$103 $(367)$(555)
Transaction related costs
107 — 19 
Other charges and credits (1)
33 26 (8)
Total$243 $(341)$(544)
(1)Other charges and credits of $(19) million for the year ended December 31, 2025 and nil for the years ended December 31, 2024 and 2023, respectively, consists of other (income) expense, net within OFSE and IET.
v3.25.4
ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Assets and Liabilities of Businesses Held for Sale and All Other Current Assets and All Other Current Liabilities
The following table presents financial information related to the assets and liabilities of the businesses classified as held for sale and reported in "All other current assets" and "All other current liabilities" in the consolidated statements of financial position as of December 31, 2025.
Assets and liabilities of businesses held for sale
SPC
PSI
Total
Assets
Current receivables$235 $81 $316 
Inventories117 110 227 
Property, plant and equipment39 76 115 
Operating lease right-of use assets
20 9 29 
Goodwill— 422 422 
Intangible assets
— 3 3 
Contract assets
12 1 13 
All other assets
9 2 11 
Total assets of businesses held for sale
432 704 1,136 
Liabilities
Accounts payable116 30 146 
Progress collections and deferred income23 17 40 
Operating lease liabilities
18 7 25 
All other liabilities
41 20 61 
Total liabilities of businesses held for sale
198 74 272 
Total net assets of businesses held for sale
$234 $630 $864 
v3.25.4
SUPPLEMENTARY INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Schedule of Allowance for Credit Losses
Current receivables consist of the following at December 31:
20252024
Customer receivables$5,558 $5,945 
Other1,360 1,409 
Total current receivables6,918 7,354 
Less: Allowance for credit losses(277)(232)
Total current receivables, net$6,641 $7,122 
The following table presents the change in allowance for credit losses:
20252024
Balance at beginning of year$232 $350 
Provision80 77 
Write-offs(14)(153)
Prior year recoveries(23)(35)
Other2 (7)
Balance at end of year$277 $232 
Schedule of Supplier Finance Program
The following table presents the change in SCF program liabilities:
20252024
Balance at beginning of year$411 $332 
Purchases
1,375 1,484 
Payments(1,376)(1,405)
Balance at end of year$410 $411 
v3.25.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]      
Research and development costs $ 600 $ 643 $ 651
Equity method investment 1,117 1,080  
Supply chain finance program liabilities $ 410 $ 411 $ 332
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable  
Minimum      
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]      
Service agreement contract terms 10 years    
Maximum      
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]      
Service agreement contract terms 20 years    
v3.25.4
CURRENT RECEIVABLES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total current receivables $ 6,918 $ 7,354
Less: Allowance for credit losses (277) (232)
Total current receivables, net $ 6,641 $ 7,122
UNITED STATES | Customer Concentration Risk | Accounts Receivable    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Customer receivables (as a percent) 16.00% 16.00%
UNITED ARAB EMIRATES | Customer Concentration Risk | Accounts Receivable    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Customer receivables (as a percent) 10.00%  
MEXICO | Customer Concentration Risk | Accounts Receivable    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Customer receivables (as a percent)   10.00%
Customer receivables    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total current receivables $ 5,558 $ 5,945
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total current receivables $ 1,360 $ 1,409
v3.25.4
INVENTORIES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Inventory, Net [Abstract]      
Inventory valuation reserves $ 381 $ 390  
Inventory, Net, Items Net of Reserve Alternative [Abstract]      
Finished goods 2,381 2,494  
Work in process and raw materials 2,573 2,460  
Total inventories, net 4,954 4,954  
Inventory Write-down $ 22 $ 73 $ 35
v3.25.4
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Total cost $ 12,012 $ 11,183  
Less: Accumulated depreciation (6,686) (6,056)  
Property, plant and equipment, less accumulated depreciation 5,326 5,127  
Depreciation expense 938 870 $ 830
Accelerated depreciation 4    
Land and improvements      
Property, Plant and Equipment [Line Items]      
Total cost 297 297  
Buildings, structures and related equipment      
Property, Plant and Equipment [Line Items]      
Total cost 2,531 2,347  
Machinery, equipment and other      
Property, Plant and Equipment [Line Items]      
Total cost $ 9,184 $ 8,539  
Minimum | Land and improvements      
Property, Plant and Equipment [Line Items]      
Useful Life 8 years    
Minimum | Buildings, structures and related equipment      
Property, Plant and Equipment [Line Items]      
Useful Life 5 years    
Minimum | Machinery, equipment and other      
Property, Plant and Equipment [Line Items]      
Useful Life 1 year    
Maximum | Land and improvements      
Property, Plant and Equipment [Line Items]      
Useful Life 10 years    
Maximum | Buildings, structures and related equipment      
Property, Plant and Equipment [Line Items]      
Useful Life 40 years    
Maximum | Machinery, equipment and other      
Property, Plant and Equipment [Line Items]      
Useful Life 20 years    
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Balance at December 31, 2023, gross     $ 24,667
Accumulated impairment at December 31, 2023     (18,530)
Goodwill [Roll Forward]      
Goodwill, net, beginning balance $ 6,078 $ 6,137  
Acquisitions 254    
Currency exchange and other 158 (59)  
Total 6,490    
Classified as held for sale (422)    
Goodwill, net, ending balance 6,068 6,078  
Oilfield Services & Equipment      
Goodwill [Line Items]      
Balance at December 31, 2023, gross     19,817
Accumulated impairment at December 31, 2023     (18,276)
Goodwill [Roll Forward]      
Goodwill, net, beginning balance 1,547 1,541  
Acquisitions 0    
Currency exchange and other 9 6  
Total 1,556    
Classified as held for sale 0    
Goodwill, net, ending balance 1,556 1,547  
Industrial & Energy Technology      
Goodwill [Line Items]      
Balance at December 31, 2023, gross     4,850
Accumulated impairment at December 31, 2023     $ (254)
Goodwill [Roll Forward]      
Goodwill, net, beginning balance 4,531 4,596  
Acquisitions 254    
Currency exchange and other 149 (65)  
Total 4,934    
Classified as held for sale (422)    
Goodwill, net, ending balance $ 4,512 $ 4,531  
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Goodwill $ 6,068,000,000 $ 6,078,000,000 $ 6,137,000,000
Goodwill, acquired 254,000,000    
Amortization expense 250,000,000 266,000,000 257,000,000
Impairment for indefinite-lived intangible assets $ 0    
Minimum      
Finite-Lived Intangible Assets [Line Items]      
Estimated weighted average life (years) 1 year    
Maximum      
Finite-Lived Intangible Assets [Line Items]      
Estimated weighted average life (years) 35 years    
Industrial & Energy Technology      
Finite-Lived Intangible Assets [Line Items]      
Goodwill $ 4,512,000,000 $ 4,531,000,000 $ 4,596,000,000
Goodwill, acquired 254,000,000    
Continental Disc Corporation      
Finite-Lived Intangible Assets [Line Items]      
Goodwill, acquired 229,000,000    
Continental Disc Corporation | Industrial & Energy Technology      
Finite-Lived Intangible Assets [Line Items]      
Goodwill 254,000,000    
Goodwill, acquired 229,000,000    
Intangible assets acquired 269,000,000    
Continental Disc Corporation | Industrial & Energy Technology | Customer relationships      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired 227,000,000    
Continental Disc Corporation | Industrial & Energy Technology | Technology      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired 27,000,000    
Continental Disc Corporation | Industrial & Energy Technology | Trademarks      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired 14,000,000    
Continental Disc Corporation | Industrial & Energy Technology | Capitalized software      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired $ 1,000,000    
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS- Intangible Assets by Type (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 5,345 $ 4,981
Accumulated Amortization (3,400) (3,232)
Net 1,945 1,749
Indefinite-lived intangible assets 2,152 2,202
Total intangible assets, Gross Carrying Amount 7,497 7,183
Total intangible assets, Net 4,097 3,951
Customer relationships    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount 2,186 1,921
Accumulated Amortization (986) (883)
Net 1,200 1,038
Technology    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount 1,217 1,248
Accumulated Amortization (987) (981)
Net 230 267
Trade names and trademarks    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount 306 290
Accumulated Amortization (208) (196)
Net 98 94
Capitalized software    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount 1,636 1,522
Accumulated Amortization (1,219) (1,172)
Net $ 417 $ 350
v3.25.4
GOODWILL AND OTHER INTANGIBLE ASSETS - Future Estimated Amortization Expense (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Estimated Amortization Expense  
2026 $ 241
2027 220
2028 198
2029 168
2030 $ 142
v3.25.4
CONTRACT AND OTHER DEFERRED ASSETS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets (total revenue in excess of billings) $ 1,453 $ 1,593
Deferred inventory costs 141 124
Other costs to fulfill or obtain a contract 26 13
Contract and other deferred assets 1,620 1,730
Revenue recognized from performance obligations satisfied in previous periods 18 (11)
Long-term equipment contracts and other service agreements    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets (total revenue in excess of billings) 1,123 1,247
Long-term product service agreements    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets (total revenue in excess of billings) $ 330 $ 346
v3.25.4
PROGRESS COLLECTIONS AND DEFERRED INCOME (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]    
Progress collections and deferred income (contract liabilities) $ 5,904 $ 5,672
Revenue recognized, included in contract liability 4,315 4,398
Equipment contracts and other service agreements    
Disaggregation of Revenue [Line Items]    
Long-term product service and equipment contracts and other service agreements 5,249 5,047
Long-term product service agreements    
Disaggregation of Revenue [Line Items]    
Long-term product service and equipment contracts and other service agreements 507 503
Progress collections    
Disaggregation of Revenue [Line Items]    
Progress collections and deferred income (contract liabilities) 5,756 5,550
Deferred income    
Disaggregation of Revenue [Line Items]    
Progress collections and deferred income (contract liabilities) $ 148 $ 122
v3.25.4
LEASES - Operating Lease Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Lease Expense      
Short-term lease $ 492 $ 511 $ 503
Long-term fixed lease 272 292 276
Long-term variable lease 54 76 73
Total operating lease expense $ 818 $ 879 $ 852
v3.25.4
LEASES - Operating Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leases    
2026 $ 204  
2027 130  
2028 92  
2029 70  
2030 47  
Thereafter 201  
Total lease payments 744  
Less: imputed interest 129  
Total $ 615 $ 673
v3.25.4
LEASES - Lease Liabilities Statement of Financial Position (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] All other current liabilities All other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] All other liabilities All other liabilities
All other current liabilities $ 173 $ 198
All other liabilities 442 475
Total $ 615 $ 673
v3.25.4
LEASES - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease assets $ 622 $ 678
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] All other assets All other assets
Weighted-average remaining lease term 7 years 7 years
Weighted-average discount rate 4.60% 4.30%
v3.25.4
DEBT - Schedule of Carrying Value of Short-term and Long-term Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Short-term and current portion of long-term debt    
Total short-term and current portion of long-term debt $ 689 $ 53
Effective Interest Rate 4.00% 4.20%
Long-term debt    
Other long-term debt $ 190 $ 173
Total long-term debt 5,398 5,970
Total debt $ 6,087 $ 6,023
Senior Notes | 2.061% Senior Notes due December 2026    
Debt Instrument [Line Items]    
Stated interest rate 2.061%  
Short-term and current portion of long-term debt    
Effective Interest Rate 0.00% 2.40%
Long-term debt    
Long-term borrowings $ 0 $ 599
Senior Notes | 3.337% Senior Notes due December 2027    
Debt Instrument [Line Items]    
Stated interest rate 3.337% 3.337%
Short-term and current portion of long-term debt    
Effective Interest Rate 4.90% 5.40%
Long-term debt    
Long-term borrowings $ 1,324 $ 1,302
Senior Notes | 6.875% Notes due January 2029    
Debt Instrument [Line Items]    
Stated interest rate 6.875%  
Short-term and current portion of long-term debt    
Effective Interest Rate 4.00% 3.90%
Long-term debt    
Long-term borrowings $ 255 $ 262
Senior Notes | 3.138% Senior Notes due November 2029    
Debt Instrument [Line Items]    
Stated interest rate 3.138%  
Short-term and current portion of long-term debt    
Effective Interest Rate 3.20% 3.20%
Long-term debt    
Long-term borrowings $ 524 $ 523
Senior Notes | 4.486% Senior Notes due May 2030    
Debt Instrument [Line Items]    
Stated interest rate 4.486%  
Short-term and current portion of long-term debt    
Effective Interest Rate 4.60% 4.60%
Long-term debt    
Long-term borrowings $ 498 $ 498
Senior Notes | 5.125% Senior Notes due September 2040    
Debt Instrument [Line Items]    
Stated interest rate 5.125%  
Short-term and current portion of long-term debt    
Effective Interest Rate 4.20% 4.20%
Long-term debt    
Long-term borrowings $ 1,269 $ 1,275
Senior Notes | 4.080% Senior Notes due December 2047    
Debt Instrument [Line Items]    
Stated interest rate 4.08%  
Short-term and current portion of long-term debt    
Effective Interest Rate 4.10% 4.10%
Long-term debt    
Long-term borrowings $ 1,338 $ 1,338
Senior Notes | 2.061% Senior Notes due December 2026    
Debt Instrument [Line Items]    
Stated interest rate 2.061%  
Short-term and current portion of long-term debt    
Total short-term and current portion of long-term debt $ 599 $ 0
Effective Interest Rate 2.40% 0.00%
Other debt    
Short-term and current portion of long-term debt    
Total short-term and current portion of long-term debt $ 90 $ 53
Effective Interest Rate 4.50% 4.60%
v3.25.4
DEBT - Narrative (Details) - USD ($)
 12 Months Ended
Jul. 28, 2025
Dec. 31, 2025
Dec. 31, 2024
Nov. 12, 2025
Aug. 15, 2025
Line of Credit Facility [Line Items]          
Debt Instrument, Increase (Decrease), Changes In Fair Value   $ (102,000,000) $ (91,000,000)    
Estimated fair value of debt   $ 5,628,000,000 5,409,000,000    
Baker Hughes Co-Obligor, Inc.          
Line of Credit Facility [Line Items]          
Ownership percentage   100.00%      
Long-term borrowings   $ 5,800,000,000      
Bridge Loan Credit Facility          
Line of Credit Facility [Line Items]          
Borrowings   0      
Bridge Loan Credit Facility | Line of Credit          
Line of Credit Facility [Line Items]          
Maximum borrowing capacity $ 14,900,000,000        
Debt instrument, term 364 days        
Remaining borrowing capacity       $ 13,600,000,000 $ 12,300,000,000
Debt financing fees   61,200,000      
Term Loan | Line of Credit          
Line of Credit Facility [Line Items]          
Maximum borrowing capacity       $ 11,000,000,000.0 $ 2,600,000,000
Revolving Credit Facility | The Credit Agreement | BHH LLC          
Line of Credit Facility [Line Items]          
Borrowings   0 $ 0    
Revolving Credit Facility | The Credit Agreement | Unsecured | BHH LLC          
Line of Credit Facility [Line Items]          
Maximum borrowing capacity   $ 3,000,000,000.0      
v3.25.4
DEBT - Maturities of Debt Schedule (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Debt  
2026 $ 689
2027 1,387
2028 55
2029 821
2030 514
Thereafter $ 2,621
v3.25.4
EMPLOYEE BENEFIT PLANS - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
plan
Dec. 31, 2024
USD ($)
plan
Dec. 31, 2023
USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined contribution plan, employer matching contribution per dollar $ 1.00    
Defined contribution plan, employer matching contribution 5.00%    
Defined contribution plan, employers matching contribution for vesting plan 4.00%    
Defined contribution plan, employers matching contribution for vesting, period 3 years    
Defined contribution plans, cost $ 254,000,000 $ 180,000,000  
Number of non-qualified defined contribution plans | plan 2    
Defined contribution plan, assets and liabilities $ 330,000,000 $ 300,000,000  
Dresser Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Liability, defined benefit pension plan 406,000,000    
Funded plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Buy-ins insurance contract funded with plan assets aggregate premium 1,107,000,000    
Pension plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Number of retirement plans | plan   1  
Pension assets or obligations, threshold, per plan 20,000,000    
Accumulated postretirement benefit obligation 2,076,000,000 $ 2,084,000,000 $ 2,443,000,000
Fair values of the plan assets 1,613,000,000 1,708,000,000 $ 2,080,000,000
Employer contributions 54,000,000 66,000,000  
Pension plan | Minimum      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Estimated future employer contributions in next fiscal year 115,000,000    
Pension plan | Maximum      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Estimated future employer contributions in next fiscal year 120,000,000    
Pension plan | Fixed income and cash investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets $ 190,000,000 1,253,000,000  
Pension plan | Funded plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Number of retirement plans | plan 6    
Pension plan | Underfunded plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Number of retirement plans | plan 5    
Pension plan | Fair value measured at Net Asset Value per share      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets $ 382,000,000 $ 1,557,000,000  
Pension plan | Fair value measured at Net Asset Value per share | Equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Percent of plan assets valued using NAV 0.00% 12.00%  
Pension plan | Fair value measured at Net Asset Value per share | Fixed income and cash investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Percent of plan assets valued using NAV 50.00% 80.00%  
Pension plan | Fair value measured at Net Asset Value per share | Alternative investments      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Percent of plan assets valued using NAV 50.00% 8.00%  
Pension plan | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets $ 1,231,000,000 $ 151,000,000  
Pension plan | Level 3      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets $ 1,224,000,000 92,000,000  
Pension plan | UNITED STATES      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Number of retirement plans | plan 3    
Pension plan | Foreign      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Number of retirement plans | plan 8    
Postretirement Health Care Benefits | UNITED STATES      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Accumulated postretirement benefit obligation $ 25,000,000 28,000,000  
Supplemental Pension Plan | UNITED STATES | BH SPP      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Trust assets $ 38,000,000 $ 36,000,000  
v3.25.4
EMPLOYEE BENEFIT PLANS - Benefit Obligation and Plan Assets (Details) - Pension Benefits
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
plan
Dec. 31, 2023
USD ($)
Change in benefit obligation:      
Benefit obligation at beginning of year $ 2,084 $ 2,443  
Service cost 18 16 $ 15
Interest cost 106 107 116
Actuarial (gain)/loss 19 (148)  
Benefits paid (107) (92)  
Settlements (26) (227)  
Settlement due to plan termination (117) 0  
Foreign currency translation adjustments 99 (15)  
Benefit obligation at end of year 2,076 2,084 2,443
Change in plan assets:      
Fair value of plan assets at beginning of year 1,708 2,080  
Actual return on plan assets 28 (73)  
Employer contributions 54 66  
Benefits paid (107) (92)  
Settlements (26) (227)  
Settlement due to plan termination (117) 0  
Other (2) (39)  
Foreign currency translation adjustments 75 (7)  
Fair value of plan assets at end of year 1,613 1,708 $ 2,080
Funded status - underfunded at end of year (463) (376)  
Accumulated benefit obligation $ 2,030 $ 2,039  
Number of retirement plans | plan   1  
v3.25.4
EMPLOYEE BENEFIT PLANS - Amounts Recognized in the Balance Sheet (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure    
Noncurrent liabilities $ (1,066) $ (988)
Pension Benefits    
Defined Benefit Plan Disclosure    
Noncurrent assets 0 43
Current liabilities (77) (28)
Noncurrent liabilities (386) (391)
Net amount recognized $ (463) $ (376)
v3.25.4
EMPLOYEE BENEFIT PLANS - Information for Plans with ABOs and PBOs in Excess of Plan Assets (Details) - Pension Benefits - UNITED STATES - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Projected benefit obligation $ 2,076 $ 1,180
Accumulated benefit obligation 2,030 1,135
Fair value of plan assets 1,613 761
Projected benefit obligation 2,076 1,180
Accumulated benefit obligation 2,030 1,135
Fair value of plan assets $ 1,613 $ 761
v3.25.4
EMPLOYEE BENEFIT PLANS - Components of Net Periodic Cost (Details) - Pension Benefits - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Service cost $ 18 $ 16 $ 15
Interest cost 106 107 116
Expected return on plan assets (86) (118) (102)
Amortization of prior service credit 1 1 1
Amortization of net actuarial loss 19 18 19
Curtailment / settlement loss 28 20 (16)
Net periodic cost $ 85 $ 44 $ 33
v3.25.4
EMPLOYEE BENEFIT PLANS - Assumptions Used for Benefit Obligation (Details) - Pension Benefits
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Discount rate 4.74% 5.22%
Rate of compensation increase 3.32% 3.31%
Interest crediting rate 3.20% 4.46%
v3.25.4
EMPLOYEE BENEFIT PLANS - Assumptions Used for Net Periodic Cost (Details) - Pension Benefits
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 5.22% 4.54% 4.89%
Expected long-term return on plan assets 5.18% 5.97% 5.05%
Interest crediting rate 4.46% 3.98% 4.31%
v3.25.4
EMPLOYEE BENEFIT PLANS - Reconciliation to Accumulated Other Comprehensive Loss (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial loss $ 384 $ 338
Net prior service cost 12 14
Total $ 396 $ 352
v3.25.4
EMPLOYEE BENEFIT PLANS - Fair Value of the Plan Assets (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value $ 1,613 $ 1,708 $ 2,080
Fixed income and cash investment funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 190 1,253  
Global equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 0 73  
U.S. equity securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 0 107  
Insurance contracts      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 1,224 92  
Real estate      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 2 3  
Private equities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value 39 45  
Other investments      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair values of the plan assets by asset category and by levels of fair value $ 158 $ 135  
v3.25.4
EMPLOYEE BENEFIT PLANS - Future Expected Benefit Payments (Details) - Pension Benefits
$ in Millions
Dec. 31, 2025
USD ($)
Defined Benefit Plan Disclosure  
2026 $ 486
2027 83
2028 88
2029 94
2030 97
2031-2035 $ 551
v3.25.4
INCOME TAXES - Provision or Benefit for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
U.S. federal $ 6 $ 39 $ 33
U.S. state 19    
Foreign 930 889 711
Total current 955 928 744
Deferred:      
U.S. federal (87) (556) (27)
U.S. state (24)    
Foreign (591) (115) (32)
Total deferred (702) (671) (59)
Provision for income taxes $ 253 $ 257 $ 685
v3.25.4
INCOME TAXES - Geographic Sources of Income (Loss) before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. $ 911 $ 1,099 $ 882
Foreign 1,966 2,166 1,773
Income before income taxes $ 2,877 $ 3,265 $ 2,655
v3.25.4
Income Taxes - Schedule of Reconciliation of Tax Provision (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Income before income taxes $ 2,877 $ 3,265 $ 2,655
U.S. federal statutory tax rate 604 686 558
State and local income taxes (2)    
Effect of cross-border tax laws      
FDII deduction (73)    
Other 37    
Tax credits      
Foreign tax credits (46)    
Other credits (26)    
Changes in valuation allowances 55 (625) 53
Nontaxable or nondeductible items      
Other (4)    
Other adjustments      
Impact of transactions (2) (210) (71) 70
Other (12)    
Foreign tax effects   269 112
Changes in unrecognized tax benefits 83    
Provision for income taxes $ 253 $ 257 $ 685
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Income before income taxes    
U.S. federal statutory tax rate 21.00%    
State and local income taxes (0.10%)    
Effect of cross-border tax laws      
FDII deduction (2.50%)    
Other 1.30%    
Tax credits      
Foreign tax credits (1.60%)    
Other credits (0.90%)    
Changes in valuation allowances 1.90%    
Nontaxable or nondeductible items      
Other (0.10%)    
Other adjustments      
Impact of transactions (2) (7.30%)    
Other (0.40%)    
Changes in unrecognized tax benefits 2.90%    
Income tax expense 8.80% 7.90% 25.80%
Release of a valuation allowance for certain deferred tax benefits $ 308 $ 664 $ 81
CHINA      
Other adjustments      
Foreign tax effects $ 34    
Other adjustments      
Foreign tax effects 1.10%    
ITALY      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
State and local income taxes $ 39    
Other adjustments      
Other $ (5)    
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
State and local income taxes 1.40%    
Other adjustments      
Other (0.20%)    
SAUDI ARABIA      
Other adjustments      
Other $ (1)    
Withholding taxes $ 35    
Other adjustments      
Other 0.00%    
Withholding taxes 1.20%    
SWITZERLAND      
Tax credits      
Changes in valuation allowances $ (33)    
Other adjustments      
Other 10    
Taxable dividend $ 37    
Tax credits      
Changes in valuation allowances (1.10%)    
Other adjustments      
Other 0.30%    
Taxable dividend 1.30%    
UNITED ARAB EMIRATES      
Other adjustments      
Other $ (7)    
Foreign tax effects $ (50)    
Other adjustments      
Other (0.30%)    
Foreign tax effects (1.70%)    
UNITED KINGDOM      
Tax credits      
Changes in valuation allowances $ (432)    
Other adjustments      
Other $ 7    
Tax credits      
Changes in valuation allowances (15.00%)    
Other adjustments      
Other 0.30%    
Other foreign jurisdictions      
Other adjustments      
Foreign tax effects $ 213    
Other adjustments      
Foreign tax effects 7.30%    
v3.25.4
INCOME TAXES - Difference between Provision and U.S. Statutory Income Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Income before income taxes $ 2,877 $ 3,265 $ 2,655
Taxes at the U.S. federal statutory income tax rate 604 686 558
Foreign tax effects   269 112
Tax impact of partnership structure   (40) (103)
Changes in valuation allowances 55 (625) 53
Tax expense (benefit) due to unrecognized tax benefits   38 (5)
Other — net (210) (71) 70
Provision for income taxes $ 253 $ 257 $ 685
Actual income tax rate 8.80% 7.90% 25.80%
Release of a valuation allowance for certain deferred tax assets $ 308 $ 664 $ 81
v3.25.4
INCOME TAXES - Schedule of Income Taxes Paid Net of Refunds Received (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
U.S. federal $ 11    
U.S. state & local 32    
Foreign 1,113    
Total income taxes paid, net 1,156 $ 1,040 $ 595
Italy- federal      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign 286    
Brazil      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign 101    
Germany- federal      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign 80    
Other foreign jurisdictions      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign $ 646    
v3.25.4
INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
Operating & capital loss carryforwards $ 3,273 $ 3,442  
Tax credit & other carryforwards 734 772  
Investment in partnerships & subsidiaries 324 276  
Property, plant and equipment 248 250  
Employee benefits 290 278  
Goodwill and other intangible assets 442 198  
Receivables 127 150  
Inventory 114 150  
Other 544 376  
Total deferred income tax asset 6,096 5,892  
Valuation allowances (3,498) (3,908) $ (4,416)
Total deferred income tax asset after valuation allowance 2,598 1,984  
Deferred tax liabilities:      
Indefinite-lived intangible assets (382) (377)  
Fair value of derivative financial instruments (150) (166)  
Other (193) (240)  
Total deferred income tax liability (725) (783)  
Net deferred tax asset 1,873 1,201  
Valuation Allowance [Line Items]      
Release of a valuation allowance for certain deferred tax assets (308) (664) $ (81)
Other Expense      
Valuation Allowance [Line Items]      
Release of a valuation allowance for certain deferred tax assets (34) 117  
UNITED STATES      
Valuation Allowance [Line Items]      
Release of a valuation allowance for certain deferred tax assets $ (376) $ (625)  
v3.25.4
INCOME TAXES - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
country
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Total Gross Unrecognized Tax Benefits      
NOLs $ 3,243    
Release of a valuation allowance for certain deferred tax benefits 308 $ 664 $ 81
Valuation allowances 3,498 3,908 4,416
Cumulative amount of undistributed foreign earnings 6,622    
Tax liabilities for gross unrecognized tax benefits 525 $ 455 $ 467
Interest accrued on income taxes for unrecognized tax benefits 82    
Penalties accrued on income taxes for unrecognized tax benefits 49    
Uncertain tax positions 656    
Unrecognized tax benefits that would impact effective tax rate 612    
Deferred tax asset that we did not prevail on all uncertain tax position 44    
Deferred tax asset that we did not prevail on all uncertain tax position, foreign taxing jurisdiction 29    
Deferred tax asset that we did not prevail on all uncertain tax position, increased valuation allowances $ 15    
Number of countries | country 120    
Foreign operating and capital losses      
Total Gross Unrecognized Tax Benefits      
Valuation allowances $ 2,820    
U.S. foreign and non-U.S. tax credit carryforwards      
Total Gross Unrecognized Tax Benefits      
Valuation allowances 438    
Five years      
Total Gross Unrecognized Tax Benefits      
Expiring operating loss carryforwards 303    
Six to 20 years      
Total Gross Unrecognized Tax Benefits      
Expiring operating loss carryforwards 1,930    
Indefinitely      
Total Gross Unrecognized Tax Benefits      
Capital loss carryforwards 30    
Indefinite Foreign Tax      
Total Gross Unrecognized Tax Benefits      
Non-U.S. tax credits 456    
Definite Foreign Tax      
Total Gross Unrecognized Tax Benefits      
Non-U.S. tax credits 113    
Other Tax      
Total Gross Unrecognized Tax Benefits      
Other credits $ 165    
v3.25.4
INCOME TAXES - Changes in Gross Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]    
Balance at beginning of year $ (455) $ (467)
Additions for tax positions of the current year (12) (17)
Additions for tax positions of prior years (193) (51)
Reductions for tax positions of prior years 31 28
Settlements with tax authorities 61 24
Lapse of statute of limitations 43 28
Balance at end of year $ (525) $ (455)
v3.25.4
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation cost $ 203,000 $ 202,000 $ 197,000
Weighted average remaining contractual term for options exercisable 1 year 9 months 18 days    
Weighted average remaining contractual term for options outstanding 1 year 9 months 18 days    
Total intrinsic value of stock options exercised $ 10,000    
Total intrinsic value of stock options exercisable 9,000    
Total intrinsic value of stock options outstanding $ 9,000    
Baker Hughes share price on July 3, 2017 per share (in dollars per share) $ 45.54    
RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award of common stock, right to receive (in shares) 1    
Stock-based compensation, service period 3 years    
Vested intrinsic value $ 254,000    
Intrinsic value, outstanding 424,000    
Fair value options vested in period 162,000    
Unrecognized compensation cost, unvested $ 185,000    
Weighted average period of recognition for unrecognized compensation cost 1 year 9 months 7 days    
PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation, service period 3 years    
Vested intrinsic value $ 55,000    
Fair value options vested in period 43,000    
Unrecognized compensation cost, unvested $ 34,000    
Weighted average period of recognition for unrecognized compensation cost 1 year 7 months 20 days    
Unvested intrinsic value $ 95,000    
Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Maximum contractual term 3 years 1 month 6 days    
Employee Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Employee purchase, maximum per quarter $ 3    
Employee purchase, maximum $ 12    
Class A Common Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock authorized (in shares) 2,000,000,000 2,000,000,000  
Class A Common Stock | Employee Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Discount of the fair market value 15.00%    
Common stock authorized (in shares) 21,500,000    
Common stock reserved for future issuance (in shares) 5,300,000    
Class A Common Stock | Employee Stock | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
After-tax basis 1.00%    
Class A Common Stock | Employee Stock | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
After-tax basis 20.00%    
LTI Plan | Class A Common Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares authorized (in shares) 29,500,000    
Number of shares available for issuance (in shares) 17,600,000    
v3.25.4
STOCK-BASED COMPENSATION - RSUs (Details) - RSUs
shares in Thousands
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Units  
Outstanding, beginning balance (in shares) | shares 11,494
Granted (in shares) | shares 4,372
Vested (in shares) | shares (5,586)
Forfeited (in shares) | shares (973)
Outstanding, ending balance (in shares) | shares 9,307
Weighted Average Grant Date Fair Value Per Unit  
Unvested, beginning balance (in dollars per share) | $ / shares $ 29.06
Granted (in dollars per share) | $ / shares 44.48
Vested (in dollars per share) | $ / shares 29.05
Forfeited (in dollars per share) | $ / shares 35.35
Unvested, ending balance (in dollars per share) | $ / shares $ 35.65
v3.25.4
STOCK-BASED COMPENSATION - PSU (Details) - PSUs
shares in Thousands
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Units  
Outstanding, beginning balance (in shares) | shares 2,542
Granted (in shares) | shares 1,224
Vested (in shares) | shares 1,328
Forfeited (in shares) | shares (344)
Outstanding, ending balance (in shares) | shares 2,094
Weighted Average Grant Date Fair Value Per Unit  
Unvested, beginning balance (in dollars per share) | $ / shares $ 32.45
Granted (in dollars per share) | $ / shares 41.08
Vested (in dollars per share) | $ / shares 32.24
Forfeited (in dollars per share) | $ / shares 36.93
Unvested, ending balance (in dollars per share) | $ / shares $ 36.88
v3.25.4
STOCK-BASED COMPENSATION - Changes in Stock Options Outstanding (Details)
shares in Thousands
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Options  
Outstanding, beginning balance (in shares) | shares 1,425
Exercised (in shares) | shares (581)
Outstanding, ending balance (in shares) | shares 844
Exercisable, ending balance (in shares) | shares 844
Weighted Average Exercise Price Per Option  
Outstanding, beginning (in dollars per share) | $ / shares $ 31.99
Exercised (in dollars per share) | $ / shares 27.54
Outstanding, ending (in dollars per share) | $ / shares 35.04
Exercisable, ending (in dollars per share) | $ / shares $ 35.04
v3.25.4
EQUITY - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]      
Preferred stock authorized (in shares) 50,000,000    
Common stock par value (in dollars per share) $ 0.0001    
Stock repurchased and canceled (in shares) 9,800,000 15,200,000  
Repurchase and cancellation of Class A common stock $ 384 $ 484 $ 538
Treasury stock acquired, average cost (in dollars per share) $ 39.38 $ 31.78  
Remaining authorized repurchase amount $ 1,300    
Class A Common Stock      
Class of Stock [Line Items]      
Common stock authorized (in shares) 2,000,000,000 2,000,000,000  
Common stock par value (in dollars per share) $ 0.0001 $ 0.0001  
Preferred stock par value (in dollars per share) $ 0.0001    
Stock repurchased and canceled (in shares) 9,751,000 15,241,000  
Dividends on Class A common stock (in dollars per share) $ 0.92 $ 0.84 $ 0.78
v3.25.4
EQUITY - Changes in Number of Shares Outstanding (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Issue of shares on exercises of stock options (in shares) 581  
Repurchase and cancellation of Class A common stock (in shares) (9,800) (15,200)
Class A Common Stock    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance (in shares) 989,646 997,709
Issue of shares upon vesting of restricted stock units (in shares) 4,777 4,975
Issue of shares on exercises of stock options (in shares) 581 389
Issue of shares for employee stock purchase plan (in shares) 1,561 1,814
Repurchase and cancellation of Class A common stock (in shares) (9,751) (15,241)
Ending balance (in shares) 986,815 989,646
v3.25.4
EQUITY - Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance $ 17,055 $ 15,519 $ 14,525
Other comprehensive income (loss) 510 (365) 175
Ending balance 19,010 17,055 15,519
Accumulated Other Comprehensive Loss      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (3,161) (2,796) (2,971)
Other comprehensive income (loss) 509 (365) 175
Ending balance (2,652) (3,161) (2,796)
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (2,863) (2,513)  
Ending balance (2,336) (2,863) (2,513)
Cash Flow Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (7) (6)  
Ending balance 3 (7) (6)
Benefit Plans      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (291) (277)  
Ending balance (319) (291) $ (277)
Accumulated Other Comprehensive Loss      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) 1    
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) 1    
Cash Flow Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) 0    
Benefit Plans      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) 0    
Accumulated Other Comprehensive Loss      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) before reclassifications 448 (387)  
Amounts reclassified from accumulated other comprehensive loss 45 21  
Deferred taxes 17 1  
Other comprehensive income (loss) 510 (365)  
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) before reclassifications 528 (350)  
Amounts reclassified from accumulated other comprehensive loss 0 0  
Deferred taxes 0 0  
Other comprehensive income (loss) 528 (350)  
Cash Flow Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) before reclassifications 10 9  
Amounts reclassified from accumulated other comprehensive loss 0 (11)  
Deferred taxes 0 1  
Other comprehensive income (loss) 10 (1)  
Benefit Plans      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Other comprehensive income (loss) before reclassifications (90) (46)  
Amounts reclassified from accumulated other comprehensive loss 45 32  
Deferred taxes 17 0  
Other comprehensive income (loss) $ (28) $ (14)  
v3.25.4
EARNINGS PER SHARE - Basic and Diluted Net Income (Loss) per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share      
Net income $ 2,624 $ 3,008 $ 1,970
Less: Net income attributable to noncontrolling interests 36 29 27
Net income attributable to Baker Hughes Company $ 2,588 $ 2,979 $ 1,943
Class A Common Stock      
Weighted average shares outstanding:      
Class A basic (in shares) 988 994 1,008
Class A diluted (in shares) 994 1,001 1,015
Net income per share attributable to common stockholders:      
Class A basic (in dollars per share) $ 2.62 $ 3.00 $ 1.93
Class A diluted (in dollars per share) $ 2.60 $ 2.98 $ 1.91
v3.25.4
EARNINGS PER SHARE - Narrative (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Antidilutive securities excluded from diluted EPS calculation (in shares) 0 1 2
v3.25.4
FINANCIAL INSTRUMENTS - Recurring Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets    
Derivatives $ 22 $ 11
Investment securities 1,241 1,284
Total assets 1,263 1,295
Liabilities    
Derivatives (33) (64)
Total liabilities (33) (64)
Level 1    
Assets    
Derivatives 0 0
Investment securities 1,217 1,282
Total assets 1,217 1,282
Liabilities    
Derivatives 0 0
Total liabilities 0 0
Level 2    
Assets    
Derivatives 22 11
Investment securities 0 0
Total assets 22 11
Liabilities    
Derivatives (33) (64)
Total liabilities (33) (64)
Level 3    
Assets    
Derivatives 0 0
Investment securities 24 2
Total assets 24 2
Liabilities    
Derivatives 0 0
Total liabilities $ 0 $ 0
v3.25.4
FINANCIAL INSTRUMENTS - Investment Securities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]      
Equity securities, amortized cost $ 578 $ 544  
Total, amortized cost 602 547  
Equity securities, gross unrealized gains 666 737  
Total, gross unrealized gains 666 737  
Equity securities, gross unrealized losses (27) 0  
Total, gross unrealized losses (27) 0  
Equity securities, estimated fair value 1,217 1,281  
Total, estimated fair value 1,241 1,284  
Gains (losses) recorded to earnings (103) 341 $ 405
Non-U.S. debt securities      
Debt Securities, Available-for-sale [Line Items]      
Debt securities, amortized cost 24 3  
Debt securities, gross unrealized gains 0 0  
Debt securities, gross unrealized losses 0 0  
Debt securities, estimated fair value $ 24 $ 3  
Maturity period 1 year    
v3.25.4
FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Equity securities, estimated fair value $ 1,217 $ 1,281
Derivative asset, current $ 22 $ 9
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] All other current assets All other current assets
Derivative asset, noncurrent $ 0 $ 3
Current derivative liability $ 8 $ 16
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] All other current liabilities All other current liabilities
Noncurrent derivative liability $ 25 $ 50
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] All other liabilities All other liabilities
Derivative liability $ 33 $ 64
Notional amount 7,100 4,000
3.337% Senior Notes due December 2027 | Senior Notes    
Derivative Instruments, Gain (Loss) [Line Items]    
Aggregate principal amount $ 1,350 $ 1,350
Stated interest rate 3.337% 3.337%
Cash Flow Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, term 2 years 1 year
Credit Default Swap    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative liability $ 775 $ 553
Notional amount 287 412
Interest rate swap contracts | Cash Flow Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount 2,500  
Interest rate swap, fair value 9  
Interest rate swap contracts | Fair Value Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount $ 500 $ 500
v3.25.4
FINANCIAL INSTRUMENTS - Derivatives and Hedging (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Assets $ 22 $ 11
(Liabilities) $ (33) $ (64)
Derivative Asset, Statement of Financial Position [Extensible Enumeration] All other current assets, All other assets All other current assets, All other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] All other current liabilities, All other liabilities All other current liabilities, All other liabilities
Currency exchange contracts and other | Derivatives accounted for as hedges    
Derivatives, Fair Value [Line Items]    
Assets $ 0 $ 2
(Liabilities) 0 (2)
Currency exchange contracts and other | Derivatives not accounted for as hedges    
Derivatives, Fair Value [Line Items]    
Assets 13 9
(Liabilities) (9) (17)
Interest rate swap contracts | Derivatives accounted for as hedges    
Derivatives, Fair Value [Line Items]    
Assets 9 0
(Liabilities) $ (24) $ (45)
v3.25.4
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS - Schedule of Disaggregated Segment Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Total revenue $ 27,733 $ 27,829 $ 25,506
Oilfield Services & Equipment      
Disaggregation of Revenue [Line Items]      
Total revenue 14,324 15,628 15,361
Oilfield Services & Equipment | North America      
Disaggregation of Revenue [Line Items]      
Total revenue 3,773 3,955 4,116
Oilfield Services & Equipment | Latin America      
Disaggregation of Revenue [Line Items]      
Total revenue 2,423 2,609 2,761
Oilfield Services & Equipment | Europe/CIS/Sub-Saharan Africa      
Disaggregation of Revenue [Line Items]      
Total revenue 2,455 3,250 2,655
Oilfield Services & Equipment | Middle East/Asia      
Disaggregation of Revenue [Line Items]      
Total revenue 5,673 5,814 5,829
Oilfield Services & Equipment | Well Construction      
Disaggregation of Revenue [Line Items]      
Total revenue 3,646 4,145 4,387
Oilfield Services & Equipment | Completions, Intervention, and Measurements      
Disaggregation of Revenue [Line Items]      
Total revenue 3,750 4,154 4,170
Oilfield Services & Equipment | Production Solutions      
Disaggregation of Revenue [Line Items]      
Total revenue 3,806 3,860 3,854
Oilfield Services & Equipment | Subsea & Surface Pressure Systems      
Disaggregation of Revenue [Line Items]      
Total revenue 3,122 3,470 2,950
Industrial & Energy Technology      
Disaggregation of Revenue [Line Items]      
Total revenue 13,409 12,201 10,145
Industrial & Energy Technology | Total Gas Technology      
Disaggregation of Revenue [Line Items]      
Total revenue 9,647 8,490 6,832
Industrial & Energy Technology | Gas Technology Equipment      
Disaggregation of Revenue [Line Items]      
Total revenue 6,619 5,693 4,232
Industrial & Energy Technology | Gas Technology Services      
Disaggregation of Revenue [Line Items]      
Total revenue 3,028 2,797 2,600
Industrial & Energy Technology | Total Industrial Technology      
Disaggregation of Revenue [Line Items]      
Total revenue 3,114 3,105 2,987
Industrial & Energy Technology | Industrial Products      
Disaggregation of Revenue [Line Items]      
Total revenue 1,991 2,040 1,962
Industrial & Energy Technology | Industrial Solutions      
Disaggregation of Revenue [Line Items]      
Total revenue 1,123 1,065 983
Industrial & Energy Technology | Controls      
Disaggregation of Revenue [Line Items]      
Total revenue 0 0 41
Industrial & Energy Technology | Climate Technology Solutions      
Disaggregation of Revenue [Line Items]      
Total revenue $ 647 $ 605 $ 326
v3.25.4
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS - Narrative (Details)
$ in Billions
Dec. 31, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Performance obligations expected to be satisfied $ 35.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Within 2 years  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized 59.00%
Timing of revenue expected to be recognized 2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Within 5 years  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized 74.00%
Timing of revenue expected to be recognized 5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Within 15 years  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized 89.00%
Timing of revenue expected to be recognized 15 years
v3.25.4
SEGMENT INFORMATION - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
productLine
Segment Reporting Information  
Number of operating segments | segment 2
Number of reportable segments | segment 2
Oilfield Services & Equipment  
Segment Reporting Information  
Number of product line | productLine 4
Industrial & Energy Technology  
Segment Reporting Information  
Number of product line | productLine 5
v3.25.4
SEGMENT INFORMATION - Summarized Financial Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Summarized financial information [Abstract]      
Total revenue $ 27,733 $ 27,829 $ 25,506
Research and development costs (600) (643) (651)
Selling, general and administrative (2,387) (2,458) (2,611)
Add: Depreciation and amortization 1,188 1,136 1,087
Inventory impairment (22) (73) (35)
Other income (expense), net (243) 341 544
Interest expense, net (222) (198) (216)
Income before income taxes 2,877 3,265 2,655
Provision for income taxes (253) (257) (685)
Net income 2,624 3,008 1,970
Less: Net income attributable to noncontrolling interests 36 29 27
Net Income (Loss) Attributable to Parent 2,588 2,979 1,943
Depreciation and amortization (1,188) (1,136) (1,087)
Accelerated depreciation 4    
Assets 40,881 38,363  
Operating segments      
Summarized financial information [Abstract]      
Total revenue 27,733 27,829 25,506
Cost of goods and services sold (21,126) (21,186) (19,502)
Research and development costs (600) (643) (651)
Selling, general and administrative (2,091) (2,182) (2,297)
Add: Depreciation and amortization 1,165 1,113 1,066
Segment EBITDA 5,100 4,931 4,121
Other income (expense), net 19 0 0
Depreciation and amortization (1,165) (1,113) (1,066)
Assets 33,678 32,619  
Corporate      
Summarized financial information [Abstract]      
Add: Depreciation and amortization 23 23 21
Corporate costs (318) (340) (359)
Depreciation and amortization (23) (23) (21)
Segment reconciling items      
Summarized financial information [Abstract]      
Inventory impairment (22) (73) (35)
Restructuring (3) (215) (260) (313)
Other income (expense), net (262) 341 544
Depreciation and amortization (1,184) (1,136) (1,087)
Interest expense, net (222) (198) (216)
Corporate and eliminations      
Summarized financial information [Abstract]      
Assets 7,203 5,744  
Oilfield Services & Equipment      
Summarized financial information [Abstract]      
Total revenue 14,324 15,628 15,361
Oilfield Services & Equipment | Operating segments      
Summarized financial information [Abstract]      
Total revenue 14,324 15,628 15,361
Cost of goods and services sold (11,532) (12,448) (12,282)
Research and development costs (241) (260) (278)
Selling, general and administrative (876) (932) (1,055)
Add: Depreciation and amortization 932 893 849
Segment EBITDA 2,618 2,881 2,595
Other income (expense), net 11    
Depreciation and amortization (932) (893) (849)
Assets 18,744 18,781  
Industrial & Energy Technology      
Summarized financial information [Abstract]      
Total revenue 13,409 12,201 10,145
Industrial & Energy Technology | Operating segments      
Summarized financial information [Abstract]      
Total revenue 13,409 12,201 10,145
Cost of goods and services sold (9,594) (8,738) (7,220)
Research and development costs (359) (383) (373)
Selling, general and administrative (1,215) (1,250) (1,242)
Add: Depreciation and amortization 233 220 217
Segment EBITDA 2,482 2,050 1,527
Other income (expense), net 8    
Depreciation and amortization (233) (220) $ (217)
Assets $ 14,934 $ 13,838  
v3.25.4
SEGMENT INFORMATION - Capital Expenditures and Depreciation and Amortization by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Depreciation and amortization $ 1,188 $ 1,136 $ 1,087
Accelerated depreciation 4    
Capital expenditures 1,273 1,278 1,224
Operating segments      
Segment Reporting Information      
Depreciation and amortization 1,165 1,113 1,066
Capital expenditures 1,212 1,238 1,189
Operating segments | Oilfield Services & Equipment      
Segment Reporting Information      
Depreciation and amortization 932 893 849
Capital expenditures 887 954 960
Operating segments | Industrial & Energy Technology      
Segment Reporting Information      
Depreciation and amortization 233 220 217
Capital expenditures 325 284 229
Corporate      
Segment Reporting Information      
Depreciation and amortization 23 23 21
Capital expenditures $ 61 $ 40 $ 35
v3.25.4
SEGMENT INFORMATION - Revenue based on the Location of Product and Services and Net Property, Plant and Equipment by Geographic Location (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue from geographic segments      
Revenue $ 27,733 $ 27,829 $ 25,506
Property, plant and equipment - net 5,326 5,127  
U.S.      
Revenue from geographic segments      
Revenue 7,700 7,383 6,557
Property, plant and equipment - net 1,647 1,794  
Non-U.S.      
Revenue from geographic segments      
Revenue 20,033 20,446 $ 18,949
Property, plant and equipment - net $ 3,679 $ 3,333  
v3.25.4
RELATED PARTY TRANSACTIONS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Purchases $ 800 $ 698 $ 517
Accounts payable 4,579 4,542  
Corporate joint venture      
Related Party Transaction [Line Items]      
Accounts payable $ 136 $ 117  
Aero JV | Corporate joint venture      
Related Party Transaction [Line Items]      
Ownership percentage 50.00%    
Aero JV | Corporate joint venture | GE Vernova      
Related Party Transaction [Line Items]      
Ownership percentage 50.00%    
v3.25.4
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Environmental loss contingencies $ 1  
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] All other liabilities  
Off-balance sheet arrangements $ 6,200  
Purchase obligations, within next twelve months 1,840  
Purchase obligations, year two 292  
Purchase obligations, year three 146  
Purchase obligations, year four 45  
Purchase obligations, year five 35  
Purchase obligations, thereafter 22  
Environmental Remediation    
Loss Contingencies [Line Items]    
Environmental loss contingencies $ 53 $ 54
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]   All other liabilities
v3.25.4
RESTRUCTURING - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Restructuring $ 215 $ 260 $ 313
Inventory impairment 22 73 35
Total      
Restructuring Cost and Reserve [Line Items]      
Restructuring $ 215 $ 266 $ 313
v3.25.4
RESTRUCTURING - Schedule of Restructuring and Impairment Charges (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges $ 215 $ 260 $ 313
Restructuring Costs   6  
Total      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 215 266 313
Employee-related termination expenses      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 122 153 270
Long-lived asset impairments      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 53 77 (2)
Contract termination fees      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 13 2 1
Other incremental costs      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 27 34 44
Operating segments | Oilfield Services & Equipment      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 121 206 148
Operating segments | Industrial & Energy Technology      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges 84 13 98
Corporate      
Restructuring Cost and Reserve [Line Items]      
Total restructuring charges $ 10 $ 41 $ 67
v3.25.4
OTHER (INCOME) AND EXPENSE, NET (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Commitments [Line Items]      
Change in fair value of equity securities $ 103 $ (367) $ (555)
Transaction related costs 107 0 19
Other charges and credits 33 26 (8)
Total 243 (341) (544)
Operating segments      
Other Commitments [Line Items]      
Total $ (19) $ 0 $ 0
v3.25.4
ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]      
Acquisitions $ 254    
Goodwill 6,068 $ 6,078 $ 6,137
Proceeds from business dispositions $ 0 $ 0 293
SPC      
Business Combination [Line Items]      
Joint venture ownership percentage 35.00%    
Sale | Businesses Including Nexus Controls      
Business Combination [Line Items]      
Proceeds from business dispositions     293
Sale | SPC      
Business Combination [Line Items]      
Consideration $ 345    
Sale | PSI      
Business Combination [Line Items]      
Consideration $ 1,150    
Chart      
Business Combination [Line Items]      
Price in cash (in dollar per share) $ 210    
Total purchase consideration $ 13,600    
Termination fee 258    
Continental Disc Corporation      
Business Combination [Line Items]      
Total purchase consideration 554    
Acquisitions 229    
Intangible assets acquired $ 269    
Several Acquisitions Including Altus Intervention      
Business Combination [Line Items]      
Total purchase consideration     301
Goodwill     138
Intangible assets     $ 58
v3.25.4
ACQUISITIONS, DISPOSITIONS, AND BUSINESSES HELD FOR SALE - Assets and Liabilities Held for Sale (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Assets  
Goodwill $ 422
Sale  
Assets  
Current receivables 316
Inventories 227
Property, plant and equipment 115
Operating lease right-of use assets 29
Goodwill 422
Intangible assets 3
Contract assets 13
All other assets 11
Total assets of businesses held for sale 1,136
Liabilities  
Accounts payable 146
Progress collections and deferred income 40
Operating lease liabilities 25
All other liabilities 61
Total liabilities of business held for sale 272
Total net assets of business held for sale 864
Sale | SPC  
Assets  
Current receivables 235
Inventories 117
Property, plant and equipment 39
Operating lease right-of use assets 20
Goodwill 0
Intangible assets 0
Contract assets 12
All other assets 9
Total assets of businesses held for sale 432
Liabilities  
Accounts payable 116
Progress collections and deferred income 23
Operating lease liabilities 18
All other liabilities 41
Total liabilities of business held for sale 198
Total net assets of business held for sale 234
Sale | PSI  
Assets  
Current receivables 81
Inventories 110
Property, plant and equipment 76
Operating lease right-of use assets 9
Goodwill 422
Intangible assets 3
Contract assets 1
All other assets 2
Total assets of businesses held for sale 704
Liabilities  
Accounts payable 30
Progress collections and deferred income 17
Operating lease liabilities 7
All other liabilities 20
Total liabilities of business held for sale 74
Total net assets of business held for sale $ 630
v3.25.4
SUPPLEMENTARY INFORMATION - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Employee-related liabilities $ 1,115 $ 1,237
v3.25.4
SUPPLEMENTARY INFORMATION - Allowance for Credit Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Allowance for doubtful accounts    
Balance at beginning of year $ 232 $ 350
Provision 80 77
Write-offs (14) (153)
Prior year recoveries (23) (35)
Other 2 (7)
Balance at end of year $ 277 $ 232
v3.25.4
SUPPLEMENTARY INFORMATION - Supplier Finance Program (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Guarantees and Product Warranties [Abstract]    
Balance at beginning of year $ 411 $ 332
Purchases 1,375 1,484
Payments (1,376) (1,405)
Balance at end of year $ 410 $ 411