BKR 10-Q Quarterly Reports

Baker Hughes Company reported total revenue of $7.0 billion for the third quarter of 2025, a slight increase of 1% compared to the same period in the prior year. This growth was primarily driven by a 15% increase in the Industrial & Energy Technology (IET) segment, which benefited from strong performance in Gas Technology Equipment and Services. However, the Oilfield Services & Equipment (OFSE) segment experienced an 8% decline in revenue, impacted by lower international activity and rig counts. Net income attributable to Baker Hughes Company for the quarter was $609 million, a decrease of 20% year-over-year, attributed to factors such as a decline in the market-to-market adjustment of equity securities, reduced volumes in OFSE, and transaction costs related to acquisitions and divestitures, partially offset by cost-saving initiatives. The company is progressing with its significant acquisition of Chart Industries, Inc., expected to close mid-2026, and has completed the acquisition of Continental Disc Corporation. Portfolio management actions, including the expected sale of the Precision Sensors & Instrumentation business and the formation of a Surface Pressure Control joint venture, are also moving forward. Despite a challenging oil market outlook due to geopolitical tensions and potential oversupply, Baker Hughes remains optimistic about the natural gas outlook and is focused on leveraging its diversified portfolio to deliver integrated, lower-emission solutions across the energy value chain.

Baker Hughes Company reported its second quarter 2025 results, showing a slight year-over-year revenue decrease to $6.9 billion, primarily due to softer activity in the Oilfield Services & Equipment (OFSE) segment, which saw a $0.4 billion decline. This was partially offset by a $0.2 billion revenue increase in the Industrial & Energy Technology (IET) segment, driven by growth in Gas Technology and Climate Technology solutions. Despite the revenue dip, net income attributable to Baker Hughes Company saw a healthy increase of 21% to $701 million ($0.71 per diluted share), compared to $579 million ($0.58 per diluted share) in the prior year's second quarter. This improved profitability was attributed to higher EBITDA margins across both segments, gains from the fair value of equity securities, and favorable foreign exchange, despite lower volumes in OFSE. The company also continues to return capital to shareholders, with a total of $423 million distributed through dividends and share repurchases in the quarter.

Baker Hughes Company reported total revenue of $6.43 billion for the first quarter of 2025, a slight increase of $9 million compared to the same period last year. Net income, however, saw a decline of $53 million to $402 million, largely due to a $140 million loss from the change in fair value of equity securities in Q1 2025 compared to a gain in Q1 2024. The Oilfield Services & Equipment (OFSE) segment experienced a revenue decrease of $285 million, primarily driven by lower international and domestic rig counts. Conversely, the Industrial & Energy Technology (IET) segment showed robust growth, with revenue increasing by $294 million, boosted by strong performance in Gas Technology Equipment and Climate Technology Solutions. Despite the year-over-year dip in net income, the company's financial health remains solid. Baker Hughes maintained a strong liquidity position with $3.3 billion in cash and cash equivalents and an undrawn $3.0 billion revolving credit facility. The company also demonstrated commitment to shareholder returns by increasing its quarterly dividend to $0.23 per share and returning a total of $417 million to shareholders through dividends and share repurchases in the quarter. Management expressed optimism about the long-term natural gas outlook while anticipating a softening in the global oil market for the remainder of 2025, with expectations for lower upstream spending globally.

Baker Hughes Company reported solid financial results for the third quarter and the first nine months of 2024, demonstrating revenue growth and improved operating income. Total revenue for the third quarter increased by 4% year-over-year to $6.9 billion, driven by strong performance in the Industrial & Energy Technology (IET) segment, which saw a 9% revenue increase. The Oilfield Services & Equipment (OFSE) segment experienced a slight revenue increase of 0.3%. Overall operating income saw a significant jump of 30% in the third quarter to $930 million, reflecting higher volumes, favorable pricing, and successful cost optimization initiatives across both segments, partially offset by cost inflation and unfavorable business mix. For the first nine months of the year, total revenue grew by 10% to $20.5 billion, with IET revenue up 20% and OFSE revenue up 3%. Operating income for the nine-month period increased by 45% to $2.4 billion. The company returned $361 million to shareholders in the third quarter through dividends and share repurchases, underscoring its commitment to a flexible capital allocation strategy. Baker Hughes maintains a positive outlook for the global gas market while acknowledging uncertainty in the oil outlook, expecting upstream spending to remain stable in 2025 compared to 2024.

Baker Hughes Company reported a strong second quarter of 2024, demonstrating significant year-over-year improvement in financial results, driven by robust revenue growth and margin expansion across both its Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. Total revenue increased by 13% to $7.14 billion, bolstered by higher volumes in IET's Gas Technology Equipment and increased activity in OFSE. Net income attributable to Baker Hughes Company rose to $579 million, or $0.58 per diluted share, compared to $410 million, or $0.40 per diluted share, in the prior year's second quarter. The company's outlook remains cautiously optimistic, anticipating continued strength in international OFSE markets and strong momentum in IET's natural gas, LNG, and new energy solutions segments. While North America OFSE activity is expected to stabilize, global geopolitical tensions add a layer of uncertainty. Baker Hughes reaffirmed its commitment to returning capital to shareholders, distributing $375 million through dividends and share repurchases in the quarter. The company's financial position remains solid with substantial liquidity and no borrowings under its credit facility, positioning it to navigate market dynamics and invest in future growth.

Baker Hughes Company reported a solid first quarter for 2024, with total revenue increasing by 12% year-over-year to $6.4 billion. This growth was primarily driven by higher volumes in the Industrial & Energy Technology (IET) segment, particularly in Gas Technology Equipment, and improved activity in the Oilfield Services & Equipment (OFSE) segment. Despite the revenue growth, income before taxes decreased by $119 million, largely due to a significant year-over-year drop in the gain from equity securities. The company also highlighted its commitment to returning capital to shareholders, increasing its quarterly dividend and returning a total of $368 million through dividends and share repurchases in the quarter. Baker Hughes remains optimistic about the energy markets, expecting continued upstream spending growth, especially in international and offshore areas, and a strong outlook for LNG projects, while also acknowledging geopolitical uncertainties.

Baker Hughes Company reported a strong third quarter of 2023, with total revenue increasing by 24% year-over-year to $6.64 billion. This growth was primarily driven by higher volumes in both the Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. Income before income taxes saw a significant improvement, rising to $759 million from $144 million in the prior year's quarter, benefiting from increased volumes, pricing, cost-out initiatives, and lower restructuring charges. For the first nine months of 2023, revenue grew 22% to $18.67 billion, with substantial contributions from both segments. Net income for the nine-month period was $1.52 billion, a marked turnaround from a net loss of $766 million in the same period of 2022. The company highlighted its optimism for the oil and gas outlook, particularly international and offshore markets, and the continued strength in LNG projects, while acknowledging ongoing economic uncertainties and geopolitical risks. Baker Hughes also continued its transformation journey, focusing on efficiency and organizational streamlining.

Baker Hughes Company reported strong revenue growth in the second quarter of 2023, reaching $6.3 billion, a significant increase from $5.0 billion in the prior year's quarter. This growth was driven by robust performance in both the Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The company also achieved a notable shift to profitability, with income before income taxes of $614 million, a substantial improvement from a loss of $655 million in the same period last year. This turnaround was attributed to increased activity across segments, reduced charges related to the cessation of Russian operations, and favorable fair value adjustments on equity investments. Looking ahead, Baker Hughes maintains a constructive outlook, anticipating continued strength in international and offshore oilfield activity to counterbalance softness in North America. The company sees the current spending cycle as more durable than in the past due to industry discipline. Furthermore, optimism remains for the LNG market, with expectations of a multi-decade growth opportunity as natural gas plays a crucial role in the energy transition. Strategic initiatives include ongoing investment in the Baker Hughes portfolio through targeted acquisitions, such as Altus Intervention, and continued focus on optimizing its corporate structure for improved margins and returns.

Baker Hughes Company reported a significant increase in revenue and net income for the first quarter of 2023 compared to the same period in 2022. Total revenue rose to $5.72 billion from $4.84 billion, driven by higher activity in both the Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. Net income attributable to Baker Hughes Company surged to $576 million ($0.57 per diluted share) from $72 million ($0.08 per diluted share). The company benefited from a substantial gain of $392 million from the change in fair value of certain equity investments, which significantly boosted other non-operating income. The OFSE segment showed strong growth, with revenue up 19% and operating income increasing considerably due to higher volume and pricing. The IET segment also saw revenue growth of 18%, though its operating income remained flat year-over-year due to inflationary pressures and higher R&D costs. The company maintained a strong balance sheet with $2.4 billion in cash and cash equivalents and an undrawn revolving credit facility, demonstrating solid liquidity.

Baker Hughes Company (BKR) reported its third quarter 2022 financial results, indicating a year-over-year increase in total revenue to $5.37 billion, up from $5.09 billion in Q3 2021. This revenue growth was primarily driven by increased activity in the Oilfield Services (OFS) and Digital Solutions (DS) segments. However, operating income saw a notable decrease to $269 million from $378 million in the prior year's quarter. This decline was significantly influenced by higher restructuring, impairment, and other charges, totaling $230 million in Q3 2022, compared to only $14 million in Q3 2021. The company also recorded a substantial loss of $426 million related to its Oilfield Services business in Russia, which was classified as held for sale. Despite the decline in operating income, the company's backlog of remaining performance obligations remained strong at $24.7 billion as of September 30, 2022. Baker Hughes is actively managing the dynamic macro environment, including inflationary pressures and geopolitical uncertainties, by focusing on operational execution and strategic initiatives such as reorganizing into two reporting segments (OFSE and IET) effective October 1, 2022, and pursuing strategic acquisitions to complement its portfolio.

Baker Hughes Company reported mixed financial results for the second quarter of 2022. While total revenue saw a slight decline compared to the prior year, driven by lower volumes in the Turbomachinery & Process Solutions (TPS) and Oilfield Equipment (OFE) segments, the Oilfield Services (OFS) segment demonstrated robust growth. This growth was largely attributed to increased activity in North America and international markets, reflecting a positive trend in the global rig count. The company incurred a significant net loss for the quarter, heavily influenced by substantial restructuring, impairment, and other charges, particularly related to the suspension of operations in Russia and the classification of its OFS Russia business as held for sale. These charges, along with other non-operating losses such as those from equity investments, led to a substantial loss before income taxes. Despite the quarterly loss, Baker Hughes maintains a positive outlook for certain energy markets, especially natural gas and LNG, anticipating continued investment. The company highlights its strong order intake and substantial remaining performance obligations, which provide revenue visibility. However, the broader economic environment, characterized by inflation and rising interest rates, introduces uncertainty. Baker Hughes is focusing on executing its long-term strategy, including opportunistic investments and returning cash to shareholders, while navigating the volatile macro backdrop and ongoing geopolitical events that impact its operations, particularly in Russia.

Baker Hughes Company (BKR) reported its first quarter 2022 financial results, showing a slight increase in total revenue to $4.835 billion, up from $4.782 billion in the prior year's quarter. This growth was primarily driven by a significant increase in the Oilfield Services (OFS) segment, which saw revenue rise by 13% due to higher activity levels and favorable pricing. Despite the revenue increase, the company faced challenges with inflationary pressures and supply chain constraints, particularly impacting the Turbomachinery & Process Solutions (TPS) and Oilfield Equipment (OFE) segments, which experienced revenue declines. Net income attributable to Baker Hughes Company turned positive at $72 million ($0.08 per diluted share), a substantial improvement from a net loss of $452 million ($0.61 per diluted share) in the first quarter of 2021. This turnaround was significantly aided by a notable reduction in other non-operating losses, primarily due to a smaller negative impact from the fair value adjustment of its investment in C3 AI, compared to the prior year. The company also highlighted strategic investments and acquisitions aimed at positioning for the energy transition, including partnerships in low-carbon power generation and eFuels, as well as the acquisition of Mosaic Materials for CO2 separation technology.

Baker Hughes Company reported a modest increase in revenue for the third quarter of 2021, reaching $5,093 million, up slightly from $5,049 million in the prior year's third quarter. This revenue growth was primarily driven by increased activity in the Oilfield Services (OFS), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS) segments, though partially offset by a decline in the Oilfield Equipment (OFE) segment. The company demonstrated improved profitability, with income before income taxes at $209 million in Q3 2021, a significant turnaround from a loss of $264 million in Q3 2020. This improvement reflects higher volumes, cost efficiencies, and restructuring actions taken. Despite some headwinds from supply chain disruptions and commodity cost inflation, Baker Hughes maintained a positive outlook, anticipating continued improvement in North America and international onshore activity, stabilization in offshore, and long-term strength in the LNG market.

Baker Hughes Company reported revenue of $5.14 billion for the second quarter of 2021, an increase of 9% compared to $4.74 billion in the same period of 2020. This growth was primarily driven by higher volume in the Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS) segments, which offset decreases in Oilfield Services (OFS) and Oilfield Equipment (OFE). The company swung to an operating income of $194 million from a loss of $52 million in the prior year's quarter, reflecting improved cost productivity and restructuring efforts, particularly in the OFS segment. For the first six months of 2021, revenue was $9.92 billion, a slight decrease from $10.16 billion in the prior year. However, total segment operating income saw a significant improvement, increasing to $824 million from $583 million in the first half of 2020, largely due to strong performance in TPS and cost efficiencies across segments. The company maintained a strong liquidity position with $3.9 billion in cash and cash equivalents and no outstanding borrowings under its credit facilities, positioning it to navigate the evolving energy market and capitalize on opportunities in cleaner energy solutions.

Baker Hughes Company reported its first-quarter 2021 financial results, highlighting a year-over-year revenue decrease to $4.78 billion from $5.42 billion, impacted by lower activity in its Oilfield Services, Oilfield Equipment, and Digital Solutions segments. Despite the revenue decline, the company saw a significant reduction in its net loss attributable to Baker Hughes Company to $452 million, compared to $10.23 billion in the prior year period, largely due to the absence of the substantial goodwill impairment charge recorded in Q1 2020. The company generated $678 million in cash from operating activities, an improvement from $478 million in Q1 2020, demonstrating progress in working capital management. Baker Hughes also highlighted its strategic positioning for the energy transition, announcing new collaborations for decarbonization and acquiring ARMS Reliability to bolster its digital transformation capabilities. The company maintained a strong liquidity position with $4.4 billion in cash and cash equivalents, underscoring its financial resilience amidst volatile market conditions.

Baker Hughes Company reported a net loss attributable to stockholders of $170 million, or $0.25 per share, for the third quarter of 2020, a significant decline compared to a net income of $57 million, or $0.11 per share, in the same period last year. This downturn was largely driven by a substantial goodwill impairment charge of $14.77 billion recorded in the first quarter of 2020, alongside ongoing impacts from the challenging oil and gas market environment influenced by the COVID-19 pandemic and price volatility. Despite the net loss, the company's revenue for the third quarter of 2020 was $5.05 billion, a decrease from $5.88 billion in the prior year's third quarter, primarily due to lower volumes in the Oilfield Services (OFS) and Digital Solutions (DS) segments. However, the Turbomachinery & Process Solutions (TPS) segment showed strength with revenue growth driven by increased equipment volume. The company maintained a strong liquidity position with $4.1 billion in cash and cash equivalents and continued to manage its operational costs and capital expenditures conservatively.

Baker Hughes Company reported its second quarter 2020 results, marked by significant impacts from the challenging macroeconomic environment, including the COVID-19 pandemic and a sharp decline in oil and gas prices. Total revenue for the quarter was $4.74 billion, down from $6.00 billion in the prior year's second quarter, reflecting lower activity across most segments, particularly Oilfield Services (OFS) and Turbomachinery & Process Solutions (TPS). The company recognized a substantial goodwill impairment charge of $14.77 billion in the first quarter of 2020, which significantly impacted net income. For the second quarter of 2020, Baker Hughes reported a net loss attributable to the company of $201 million ($0.31 loss per share), compared to a net loss of $9 million ($0.02 loss per share) in the prior year. However, cash flow from operations remained positive, demonstrating the company's ability to generate cash even in a downturn. The company also completed the sale of its Rod Lift Systems (RLS) business for a pre-tax loss of $228 million.

Baker Hughes Company reported a significant net loss of $10.21 billion ($15.64 per share) for the first quarter of 2020, a stark contrast to the $32 million net income ($0.06 per share) in the same period last year. This dramatic swing was primarily driven by a massive goodwill impairment charge of $14.77 billion, stemming from the severe downturn in oil and gas prices and the economic uncertainty caused by the COVID-19 pandemic. Revenue also saw a slight decline of 3% to $5.43 billion from $5.62 billion year-over-year, impacted by reduced activity in Digital Solutions and Turbomachinery & Process Solutions segments. Despite the significant loss, the company maintained a solid liquidity position with $3.0 billion in cash and cash equivalents and an undrawn $3 billion revolving credit facility. Management is actively taking steps to navigate the challenging market, including a $1.8 billion restructuring plan to align operations with anticipated activity levels and preserve cash. The outlook for the oil and gas industry remains volatile, with expectations of significant declines in North America drilling and completion spending.

Baker Hughes Company's third quarter 2019 results showed a modest increase in total revenue to $5.88 billion, up from $5.66 billion in the prior year's comparable quarter. This growth was primarily driven by increased activity in the Oilfield Services (OFS) and Oilfield Equipment (OFE) segments. Net income attributable to Baker Hughes Company was $57 million, or $0.11 per diluted share, an improvement from $13 million in Q3 2018. A significant development during the quarter was the further reduction of GE's ownership stake in Baker Hughes, falling to approximately 36.8% by the end of the period. This marks a significant step in the company's transition towards greater independence. The company also reported strong order intake, particularly in Turbomachinery & Process Solutions and Oilfield Services, with remaining performance obligations at $22.2 billion, indicating a solid future revenue pipeline.

Baker Hughes Co. (BKR) reported a net loss of $9 million attributable to the company for the second quarter of 2019, compared to a net loss of $19 million in the same period last year. Despite the net loss, total revenue increased by 8% year-over-year to $5.99 billion, driven by stronger performance in the Oilfield Services (OFS), Oilfield Equipment (OFE), and Turbomachinery & Process Solutions (TPS) segments. The company saw a significant increase in international rig count, which benefited the OFS segment. While the company continues to navigate industry volatility, the outlook for the long term remains positive, supported by projected growth in international activity, LNG projects, and industrial markets. Management highlighted efforts to manage costs and maintain financial flexibility, with substantial cash and cash equivalents on hand and an available credit facility. The company also continues to manage its relationship with GE, with significant agreements in place to facilitate the eventual separation and ensure ongoing collaboration.

Baker Hughes Co. (BKR) reported its first quarter 2019 results, showing a modest increase in total revenue to $5.615 billion from $5.399 billion in the prior year's comparable quarter. The company returned to profitability, reporting a net income of $71 million, a significant improvement from a net loss of $19 million in Q1 2018. This turnaround was primarily driven by increased activity in the Oilfield Services (OFS) and Oilfield Equipment (OFE) segments, which more than offset declines in Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The company also reported reduced restructuring and separation costs compared to the prior year, signaling progress in operational adjustments. Financially, the company ended the quarter with $3.073 billion in cash and cash equivalents. While operating activities used cash flow of $184 million, largely due to working capital needs, the company maintains a solid liquidity position supported by its available credit facilities. The ongoing separation from GE is a key theme, with new agreements finalized in the Master Agreement Framework to govern their future collaboration and position BKR for independent operation. Investors will be watching the execution of these separation strategies and the company's ability to leverage its diversified portfolio in a fluctuating energy market.

Baker Hughes, a GE company (BHGE) reported an increase in revenue for the third quarter of 2018 to $5.67 billion, up from $5.30 billion in the prior year period, primarily driven by higher activity in the Oilfield Services (OFS) segment. Net income attributable to Baker Hughes, a GE company, was $13 million, a significant improvement from a net loss of $134 million in the same quarter of the previous year. The company also saw an increase in cash flow from operations to $673 million for the first nine months of 2018, a notable turnaround from a negative $585 million in the comparable period of 2017. The company's outlook remains cautiously optimistic, anticipating continued growth in North America onshore activity and moderate growth internationally, supported by stabilizing commodity prices which are beginning to spur offshore project decisions and LNG development. Despite the positive revenue and net income trends, the company incurred significant merger and related costs ($17 million in Q3 2018) and restructuring/impairment charges ($66 million in Q3 2018) as it continued to adjust its operations. The company also noted a substantial decrease in its cash, cash equivalents, and restricted cash balance to $4.77 billion from $7.03 billion at the end of 2017, mainly due to financing activities including debt repayment, dividends, and share repurchases. GE's ongoing separation plan from BHGE, expected over the next 2-3 years, suggests a strategic shift for the company as it aims for greater independence.

Baker Hughes, a GE company (BHGE) reported a mixed financial performance for the second quarter of 2018. While total revenue significantly increased to $5.55 billion, up from $3.02 billion in the prior year quarter, this was largely driven by the acquisition of Baker Hughes completed in July 2017. The company reported a net loss of $38 million for the quarter, compared to a loss of $20 million in the prior year quarter. This loss is attributable to increased restructuring and merger-related costs, as well as an equity in loss of affiliate. Despite the net loss, operating income showed improvement, turning positive at $78 million compared to a loss of $66 million in Q2 2017, indicating underlying operational improvements. Key factors impacting the results include substantial revenue growth in the Oilfield Services segment, bolstered by the acquisition, and continued strength in Digital Solutions. However, longer-cycle businesses like Turbomachinery & Process Solutions and Oilfield Equipment saw revenue declines. The company is navigating a complex market environment with volatile oil and gas prices but maintains optimism for long-term industry growth, focusing on innovative solutions and operational efficiency. Investors should monitor the impact of ongoing restructuring efforts and the company's ability to integrate the acquired Baker Hughes operations effectively.

Baker Hughes, a GE company (BHGE) reported its first quarter 2018 results, showing a significant increase in revenue to $5.4 billion, up from $3.1 billion in the prior year, primarily driven by the acquisition of Baker Hughes. Despite the revenue growth, the company reported a net loss of $19 million for the quarter, compared to a net income of $66 million in Q1 2017. This loss was impacted by restructuring, impairment, and merger-related costs totaling $208 million. The company's operating segments showed mixed performance. Oilfield Services (OFS) revenue saw a substantial increase due to the acquisition, while Turbomachinery & Process Solutions (TPS) experienced a revenue decline. The company is optimistic about the North American onshore activity outlook but remains cautious about international markets and offshore projects due to continued oil price volatility. Overall, the company faces near-term volatility but maintains a positive long-term view on energy demand and industry complexity.

Baker Hughes, a GE Company (BHGE) reported its first quarterly results following the significant business combination with GE's Oil & Gas (GE O&G) segment, which closed on July 3, 2017. For the third quarter of 2017, the company experienced a notable increase in revenue to $5.4 billion, up from $3.0 billion in the prior year, largely due to the consolidation of the acquired GE O&G business. However, the company reported a net loss of $273 million for the quarter, a significant shift from a net income of $91 million in Q3 2016. This loss was heavily influenced by substantial merger and related costs ($159 million) and restructuring and impairment charges ($191 million) associated with integrating the two businesses. Despite the quarterly loss, the underlying operational performance shows mixed signals. The Oilfield Services segment saw a significant revenue increase driven by the acquisition, while Oilfield Equipment experienced a revenue decline due to activity reductions. The company's outlook points to continued, albeit slowing, growth in North America onshore activity and cautious optimism for international markets, while offshore projects remain fluid due to oil price volatility. Investors should closely monitor the integration progress, the realization of synergies, and the company's ability to return to profitability amidst ongoing industry challenges and restructuring efforts.

This 10-Q filing for Baker Hughes, a GE Company, covers the period ending June 30, 2017. It is important to note that the financial statements presented are for a "shell company" and do not reflect the operational results of the combined Baker Hughes and GE Oil & Gas (GE O&G) businesses. The significant event for investors during this period was the impending completion of the merger between Baker Hughes and GE O&G, which was finalized on July 3, 2017, shortly after the reporting period's end. The filing primarily details the formation of the new entity, Baker Hughes, a GE Company (BHGE), and the subsequent transactions that combined Baker Hughes' operations with GE O&G. Investors should focus on the "Subsequent Events" section (Note 6) for details on the merger's closing, the new ownership structure (GE holding approximately 62.5% and former Baker Hughes shareholders holding 37.5%), and the Special Dividend of $17.50 per share paid to former Baker Hughes shareholders. The report also mentions a settlement in principle for a class-action lawsuit challenging the merger, which was resolved with additional disclosures.