0000808362-21-000039 | 10-Q | XBRL Viewer | Baker Hughes Holdings LLC

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Oct. 15, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-09397
Registrant Name	Baker Hughes Holdings LLC
Entity Incorporation, State Code	DE
Entity Tax Identification Number	76-0207995
Entity Address, Address Line One	17021 Aldine Westfield
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77073-5101
City Area Code	713
Local Phone Number	439-8600
Title of 12(b) Security	Share 5.125% Senior Notes due 2040
Trading Symbol	-
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Entity Central Index Key	0000808362
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Revenues	$ 5,093	$ 5,049	$ 15,017	$ 15,210
Costs and expenses:
Selling, general and administrative	607	565	1,836	1,830
Goodwill impairment	0	0	0	14,717
Restructuring, impairment and other	14	209	219	1,637
Separation related	11	32	53	110
Total costs and expenses	4,715	5,098	14,281	31,314
Operating income (loss)	378	(49)	736	(16,104)
Other non-operating loss, net	(102)	(149)	(791)	(367)
Interest expense, net	(67)	(66)	(205)	(195)
Income (loss) before income taxes	209	(264)	(260)	(16,666)
Provision for income taxes	(189)	(47)	(422)	(110)
Net income (loss)	20	(311)	(682)	(16,776)
Less: Net income attributable to noncontrolling interests	5	9	24	23
Net income (loss) attributable to Baker Hughes Holdings LLC	15	(320)	(706)	(16,799)
Sales of goods
Revenue:
Revenues	2,984	3,290	8,997	9,240
Costs and expenses:
Costs	2,561	2,920	7,769	8,296
Sales of services
Revenue:
Revenues	2,109	1,759	6,020	5,970
Costs and expenses:
Costs	$ 1,522	$ 1,372	$ 4,404	$ 4,724

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 20	$ (311)	$ (682)	$ (16,776)
Less: Net income attributable to noncontrolling interests	5	9	24	23
Net income (loss) attributable to Baker Hughes Holdings LLC	15	(320)	(706)	(16,799)
Other comprehensive income (loss):
Investment securities	0	0	0	(2)
Foreign currency translation adjustments	(158)	135	(51)	(101)
Cash flow hedges	(2)	2	(13)	(6)
Benefit plans	25	(54)	78	(24)
Other comprehensive income (loss)	(135)	83	14	(133)
Less: Other comprehensive loss attributable to noncontrolling interests	(1)	0	(1)	(3)
Other comprehensive income (loss) attributable to Baker Hughes Holdings LLC	(134)	83	15	(130)
Comprehensive loss	(115)	(228)	(668)	(16,909)
Less: Comprehensive income attributable to noncontrolling interests	4	9	23	20
Comprehensive loss attributable to Baker Hughes Holdings LLC	$ (119)	$ (237)	$ (691)	$ (16,929)

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) shares in Thousands, $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 3,917	$ 4,125
Current receivables, net	5,403	5,700
Inventories, net	4,110	4,421
All other current assets	1,525	2,280
Total current assets	14,955	16,526
Property, plant and equipment (net of accumulated depreciation of $5,082 and $5,115)	4,982	5,358
Goodwill	5,777	5,739
Other intangible assets, net	4,151	4,397
Contract and other deferred assets	1,738	2,001
All other assets	3,172	2,955
Deferred income taxes	974	953
Total assets	35,749	37,929
Current liabilities:
Accounts payable	3,514	3,532
Short-term debt and current portion of long-term debt	56	889
Progress collections and deferred income	3,263	3,454
All other current liabilities	2,587	2,431
Total current liabilities	9,420	10,306
Long-term debt	6,708	6,744
Deferred income taxes	96	108
Liabilities for pensions and other postretirement benefits	1,132	1,217
All other liabilities	1,385	1,391
Members' equity:
Retained loss	(16,645)	(15,939)
Accumulated other comprehensive loss	(2,527)	(2,542)
Baker Hughes Holdings LLC equity	16,866	18,031
Noncontrolling interests	142	132
Total equity	17,008	18,163
Total liabilities and equity	$ 35,749	$ 37,929
Common Unit, Outstanding	1,038,000	1,035,000
Common Units Held by Baker Hughes
Members' equity:
Common stock	$ 36,038	$ 36,512

Condensed Consolidated Statements of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Property, plant and equipment, accumulated depreciation	$ 5,082	$ 5,115

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Common Units Held by Baker Hughes	Members' Capital	Retained Loss	Accumulated Other Comprehensive Loss	Non- controlling Interests
Beginning Balance at Dec. 31, 2019	$ 34,414		$ 36,998	$ (110)	$ (2,589)	$ 115
Comprehensive income (loss):
Net income (loss)	(16,776)			(16,799)		23
Other comprehensive income (loss)	(133)				(130)	(3)
Dividends on Class A common stock	(558)		(558)
Baker Hughes stock-based compensation cost	164		164
Other	29		37	(4)		(4)
Ending Balance at Sep. 30, 2020	17,140		36,641	(16,913)	(2,719)	131
Beginning Balance at Jun. 30, 2020	17,493		36,762	(16,593)	(2,802)	126
Comprehensive income (loss):
Net income (loss)	(311)			(320)		9
Other comprehensive income (loss)	83				83
Dividends on Class A common stock	(186)		(186)
Baker Hughes stock-based compensation cost	52		52
Other	9		13			(4)
Ending Balance at Sep. 30, 2020	17,140		36,641	(16,913)	(2,719)	131
Beginning Balance at Dec. 31, 2020	18,163		36,512	(15,939)	(2,542)	132
Comprehensive income (loss):
Net income (loss)	(682)			(706)		24
Other comprehensive income (loss)	14				15	(1)
Dividends on Class A common stock	(563)		(563)
Repurchase and cancellation of common units	(106)		(106)
Baker Hughes stock-based compensation cost	153		153
Other	29		42			(13)
Ending Balance at Sep. 30, 2021	17,008		36,038	(16,645)	(2,527)	142
Beginning Balance at Jun. 30, 2021	17,355		36,266	(16,660)	(2,393)	142
Comprehensive income (loss):
Net income (loss)	20			15		5
Other comprehensive income (loss)	(135)				(134)	(1)
Dividends on Class A common stock	(188)		(188)
Repurchase and cancellation of common units	(106)	$ (106)	(106)
Baker Hughes stock-based compensation cost	51		51
Other	11		15			(4)
Ending Balance at Sep. 30, 2021	$ 17,008		$ 36,038	$ (16,645)	$ (2,527)	$ 142

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Common Units Held by Baker Hughes
Cash dividends per share (in dollars per share)	$ 0.18	$ 0.18	$ 0.54	$ 0.54

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (682)	$ (16,776)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation and amortization	832	1,010
Loss on equity securities	955	0
Provision (benefit) for deferred income taxes	42	(254)
Property, plant and equipment impairment, net	21	290
Goodwill impairment	0	14,717
Intangible assets impairment	0	729
Inventory impairment	0	218
Loss on sale of business	0	217
Write-down of assets held for sale	0	129
Changes in operating assets and liabilities:
Current receivables	319	580
Inventories	151	(183)
Accounts payable	(10)	(674)
Progress collections and deferred income	(157)	619
Contract and other deferred assets	178	(90)
Other operating items, net	(51)	392
Net cash flows from operating activities	1,598	924
Cash flows from investing activities:
Expenditures for capital assets	(590)	(801)
Proceeds from disposal of assets	178	141
Other investing items, net	200	109
Net cash flows used in investing activities	(212)	(551)
Cash flows from financing activities:
Net repayments of debt and other borrowings	(60)	(170)
Proceeds from (repayment of) commercial paper	(832)	737
Proceeds from issuance of long-term debt	0	500
Distributions to Members	(563)	(558)
Repurchase of common units	(106)	0
Other financing items, net	(24)	(15)
Net cash flows from (used in) financing activities	(1,585)	494
Effect of currency exchange rate changes on cash and cash equivalents	(9)	(59)
Increase (decrease) in cash and cash equivalents	(208)	808
Cash and cash equivalents, beginning of period	4,125	3,245
Cash and cash equivalents, end of period	3,917	4,053
Supplemental cash flows disclosures:
Income taxes paid, net of refunds	181	317
Interest paid	$ 204	$ 188

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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 Holdings LLC, a Delaware limited liability company (the Company, BHH LLC, we, us, or our) and the successor to Baker Hughes Incorporated (BHI), is an energy technology company with a diversified portfolio of technologies and services that span the entire energy value chain. As of September 30, 2021, General Electric (GE) owns 17.2% of our common units and Baker Hughes Company (Baker Hughes) owns directly or indirectly 82.8% of our common units (collectively, the Members). BASIS OF PRESENTATION The accompanying unaudited condensed 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 interim financial information. Accordingly, certain information and disclosures normally included in our annual financial statements have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 (2020 Annual Report). In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state our results of operations, financial position and cash flows of the Company and its subsidiaries for the periods presented and are not indicative of the results that may be expected for a full year. The Company's financial statements have been prepared on a consolidated basis. Under this basis of presentation, our financial statements consolidate all of our subsidiaries (entities in which we have a controlling financial interest, most often because we hold a majority voting interest). All intercompany accounts and transactions have been eliminated. In the Company's financial statements and notes, certain amounts have been reclassified to conform to the current year presentation. In the notes to unaudited condensed consolidated financial statements, all dollar and common unit amounts in tabulations are in millions of dollars and units, respectively, unless otherwise indicated. Certain columns and rows in our financial statements and notes thereto may not add due to the use of rounded numbers. Separation related costs as reflected in our condensed consolidated statements of income (loss) include costs incurred in connection with the ongoing activities related to our separation from GE. See "Note 15. Related Party Transactions" for further information. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Please refer to "Note 1. Basis of Presentation and Summary of Significant Accounting Policies," to our consolidated financial statements from our 2020 Annual Report for the discussion of our significant accounting policies. Cash and Cash Equivalents As of September 30, 2021 and December 31, 2020, we had $691 million and $687 million, respectively, of cash held in bank accounts that cannot be released, transferred or otherwise converted into a currency that is regularly transacted internationally, due to lack of market liquidity, capital controls or similar monetary or exchange limitations limiting the flow of capital out of the jurisdiction. These funds are available to fund operations and growth in these jurisdictions, and we do not currently anticipate a need to transfer these funds to the U.S. NEW ACCOUNTING STANDARDS TO BE ADOPTED All 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 our financial position or results of operations.

Revenue Related to Contracts with Customers

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

REVENUE RELATED TO CONTRACTS WITH CUSTOMERS

DISAGGREGATED REVENUE

We disaggregate our revenue from contracts with customers by primary geographic markets.


	Three Months Ended September 30,				Nine Months Ended September 30,
Total Revenue	2021		2020		2021		2020
U.S.	$	1,199	$	1,032	$	3,337	$	3,330
Non-U.S.	3,894		4,017		11,680		11,880
Total	$	5,093	$	5,049	$	15,017	$	15,210

REMAINING PERFORMANCE OBLIGATIONS

As of September 30, 2021 and 2020, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $23.5 billion and $23.0 billion, respectively. As of September 30, 2021, we expect to recognize revenue of approximately 50%, 67% 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 we fulfill the related remaining performance obligations.

PROGRESS COLLECTIONS AND DEFERRED INCOME

Contract liabilities include progress collections, which reflects billings in excess of revenue, and deferred income on our long-term contracts to construct technically complex equipment, long-term product maintenance or extended warranty arrangements. Contract liabilities are comprised of the following:


	September 30, 2021		December 31, 2020
Progress collections	$	3,140	$	3,352
Deferred income	123		102
Progress collections and deferred income (contract liabilities)	$	3,263	$	3,454

Revenue recognized during the three months ended September 30, 2021 and 2020 that was included in the contract liabilities at the beginning of the period was $448 million and $501 million, respectively, and $2,033 million and $1,328 million during the nine months ended September 30, 2021 and 2020, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Current Receivables

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Current Receivables

CURRENT RECEIVABLES

Current receivables are comprised of the following:


	September 30, 2021		December 31, 2020
Customer receivables	$	4,569	$	4,676
Related parties	439		507
Other	782		890
Total current receivables	5,790		6,073
Less: Allowance for credit losses	(387)		(373)
Total current receivables, net	$	5,403	$	5,700

Customer receivables are recorded at the invoiced amount. Related parties consists primarily of amounts owed to us by GE. The "Other" category consists primarily of indirect taxes, advance payments to suppliers, other tax receivables and customer retentions.

Inventories

9 Months Ended

Sep. 30, 2021

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories, net of reserves of $390 million and $421 million as of September 30, 2021 and December 31, 2020, respectively, are comprised of the following:


	September 30, 2021		December 31, 2020
Finished goods	$	2,255	$	2,337
Work in process and raw materials	1,855		2,084

Total inventories, net	$	4,110	$	4,421

During the three and nine months ended September 30, 2020, we recorded inventory impairments of $42 million, predominately in our Oilfield Equipment segment, and $218 million, predominately in our Oilfield Services segment, respectively, as a result of certain restructuring activities initiated by the Company. Charges for inventory impairments are predominantly reported in the "Cost of goods sold" caption of the condensed consolidated statements of income (loss).

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2021

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		Oilfield Equipment		Turbo- machinery & Process Solutions		Digital Solutions		Total
Balance at December 31, 2019, gross	$	15,382	$	4,186	$	2,171	$	2,411	$	24,150
Accumulated impairment at December 31, 2019	(2,633)		(867)		—		(254)		(3,754)
Balance at December 31, 2019	12,749		3,319		2,171		2,157		20,396
Impairment	(11,428)		(3,289)		—		—		(14,717)
Currency exchange and others	(20)		(24)		63		41		60
Balance at December 31, 2020	1,301		6		2,234		2,198		5,739

Currency exchange and others	—		(3)		(20)		61		38
Balance at September 30, 2021	$	1,301	$	3	$	2,214	$	2,259	$	5,777

We perform our annual goodwill impairment test for each of our reporting units as of July 1 of each fiscal year, in conjunction with our annual strategic planning process. Our reporting units are the same as our four reportable segments. We also test goodwill for impairment whenever events or circumstances occur which, in our judgment, could more likely than not reduce the fair value of one or more reporting units below its carrying value. Potential impairment indicators include, but are not limited to, (i) the results of our 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 Baker Hughes' market capitalization below our book value, and the magnitude and duration of those declines, if any.

During the third quarter of 2021, we completed our annual impairment test and determined that the fair value was substantially in excess of the carrying value for each reporting unit resulting in no goodwill impairment. There can be no assurances that future sustained declines in macroeconomic or business conditions affecting our industry will not occur, which could result in goodwill impairment charges in future periods.

During the first quarter of 2020, Baker Hughes' market capitalization declined significantly. Baker Hughes' closing stock price fell to a historic low of $9.33 on March 23, 2020. Over the same period, the equity value of our peer group companies and the overall U.S. stock market also declined significantly amid market volatility. In addition, the Oilfield Services Index (OSX), an indicator of investors’ view of the earnings prospects and cost of capital of the oil and gas services industry, traded at prices that were the lowest in its history. These declines were driven by the uncertainty surrounding the outbreak of the coronavirus (COVID-19) and other macroeconomic events such as the geopolitical tensions between the Organization of Petroleum Exporting Countries (OPEC) and Russia, which also resulted in a significant drop in oil prices. Based on these factors, we concluded that a triggering event occurred and, accordingly, an interim quantitative impairment test was performed as of March 31, 2020. Based upon the results of our interim quantitative impairment test, we concluded that the carrying value of the Oilfield Services and Oilfield Equipment reporting units exceeded their estimated fair value as of March 31, 2020, which resulted in goodwill impairment charges of $11,428 million and $3,289 million, respectively. The goodwill impairment was calculated as the amount that the carrying value of the reporting unit, including any goodwill, exceeded its fair value.

OTHER INTANGIBLE ASSETS

Intangible assets are comprised of the following:


	September 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,944	$	(749)	$	1,195	$	2,261	$	(916)	$	1,345
Technology	1,105		(741)		364		1,127		(696)		431
Trade names and trademarks	293		(168)		125		326		(181)		145
Capitalized software	1,306		(1,062)		244		1,294		(1,041)		253


Finite-lived intangible assets	4,648		(2,720)		1,928		5,008		(2,834)		2,174
Indefinite-lived intangible assets	2,223		—		2,223		2,223		—		2,223
Total intangible assets	$	6,871	$	(2,720)	$	4,151	$	7,231	$	(2,834)	$	4,397

Intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from 1 to 35 years. Amortization expense for the three months ended September 30, 2021 and 2020 was $59 million and $75 million, respectively, and $193 million and $231 million for the nine months ended September 30, 2021 and 2020, respectively.

Estimated amortization expense for the remainder of 2021 and each of the subsequent five fiscal years is expected to be as follows:


Year	Estimated Amortization Expense
Remainder of 2021	$	58
2022	213
2023	200
2024	182
2025	135
2026	92

Contract and Other Deferred Assets

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Contract and Other Deferred Assets

CONTRACT AND OTHER DEFERRED ASSETS

A majority of our long-term product service agreements relate to our Turbomachinery & Process Solutions segment. Contract assets reflect revenue earned in excess of billings on our long-term contracts to construct technically complex equipment, long-term product maintenance or extended warranty arrangements and other deferred contract related costs. Contract assets are comprised of the following:


	September 30, 2021		December 31, 2020
Long-term product service agreements	$	644	$	660
Long-term equipment contracts (1)	909		1,160
Contract assets (total revenue in excess of billings)	1,553		1,820
Deferred inventory costs	153		138
Non-recurring engineering costs	32		43

Contract and other deferred assets	$	1,738	$	2,001

(1)Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements.

Revenue recognized during the three months ended September 30, 2021 and 2020 from performance obligations satisfied (or partially satisfied) in previous periods related to our long-term service agreements was $9 million and $(8) million, respectively, and $18 million and $22 million during the nine months ended September 30, 2021 and 2020, respectively. This includes revenue recognized from revisions to cost or billing estimates that may affect a contract’s total estimated profitability resulting in an adjustment of earnings.

- Definition

The entire disclosure for long-term contracts or programs.

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+ Details

Progress Collections and Deferred Income

9 Months Ended

Sep. 30, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Progress Collections and Deferred Income

REVENUE RELATED TO CONTRACTS WITH CUSTOMERS

DISAGGREGATED REVENUE

We disaggregate our revenue from contracts with customers by primary geographic markets.


	Three Months Ended September 30,				Nine Months Ended September 30,
Total Revenue	2021		2020		2021		2020
U.S.	$	1,199	$	1,032	$	3,337	$	3,330
Non-U.S.	3,894		4,017		11,680		11,880
Total	$	5,093	$	5,049	$	15,017	$	15,210

REMAINING PERFORMANCE OBLIGATIONS

PROGRESS COLLECTIONS AND DEFERRED INCOME


	September 30, 2021		December 31, 2020
Progress collections	$	3,140	$	3,352
Deferred income	123		102
Progress collections and deferred income (contract liabilities)	$	3,263	$	3,454

- Definition

+ References

+ Details

Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

LEASES

Our leasing activities primarily consist of operating leases for administrative offices, manufacturing facilities, research centers, service centers, sales offices and certain equipment.


	Three Months Ended September 30,				Nine Months Ended September 30,
Operating Lease Expense	2021		2020		2021		2020
Long-term fixed lease	$	64	$	71	$	192	$	213
Long-term variable lease	7		3		24		23
Short-term lease	119		102		328		382
Total operating lease expense	$	190	$	176	$	544	$	618

Cash flows used in operating activities for operating leases approximates our expense for the three and nine months ended September 30, 2021 and 2020.

The weighted-average remaining lease term as of September 30, 2021 and December 31, 2020 was approximately nine years and eight years for our operating leases, respectively. The weighted-average discount rate used to determine the operating lease liability as of September 30, 2021 and December 31, 2020 was 3.5% and 3.7%, respectively.

Borrowings

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

Short-term and long-term borrowings are comprised of the following:


	September 30, 2021		December 31, 2020
Short-term borrowings


Commercial paper	$	—	$	801
Short-term borrowings from GE	11		45
Other borrowings	45		43
Total short-term borrowings	56		889


Long-term borrowings

2.773% Senior Notes due December 2022	1,249		1,247
8.55% Debentures due June 2024	119		123
3.337% Senior Notes due December 2027	1,341		1,344
6.875% Notes due January 2029	280		284
3.138% Senior Notes due November 2029	522		522
4.486% Senior Notes due May 2030	497		497
5.125% Senior Notes due September 2040	1,293		1,297
4.08% Senior Notes due December 2047	1,337		1,337
Other long-term borrowings	70		93
Total long-term borrowings	6,708		6,744
Total borrowings	$	6,764	$	7,633

The estimated fair value of total borrowings at September 30, 2021 and December 31, 2020 was $7,498 million and $8,502 million, respectively. For a majority of our borrowings the fair value was determined using quoted period-end market prices. Where market prices are not available, we estimate fair values based on valuation methodologies using current market interest rate data adjusted for our non-performance risk.

BHH LLC has a $3 billion committed unsecured revolving credit facility (the Credit Agreement) with commercial banks maturing in December 2024. The Credit Agreement contains certain customary representations and warranties, certain customary affirmative covenants and certain customary negative covenants. Upon the occurrence of certain events of default, BHH LLC's obligations under the Credit Agreement may be accelerated. Such events of default include payment defaults to lenders under the Credit Agreement and other customary defaults. No such events of default have occurred. At September 30, 2021 and December 31, 2020, there were no borrowings under the Credit Agreement. In addition, we have a commercial paper program under which we may issue from time to time commercial paper with maturities of no more than 397 days. As a result of the repayment of our commercial paper that matured on April 30, 2021, our authorized commercial paper program was reduced from $3.8 billion to $3 billion.

Baker Hughes Co-Obligor, Inc. is a co-obligor, jointly and severally with BHH LLC on our 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 September 30, 2021, Baker Hughes Co-Obligor, Inc. is a co-obligor of our long-term debt securities totaling $6,638 million.

Certain Senior Notes contain covenants that restrict BHH LLC'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 September 30, 2021, we were in compliance with all debt covenants.

See "Note 15. Related Party Transactions" for additional information on the short-term borrowings from GE.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Employee Benefit Plans

9 Months Ended

Sep. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

We have both funded and unfunded defined benefit plans which include four U.S. plans and seven non-U.S. plans, primarily in the UK, Germany, and Canada, all with plan assets or obligations greater than $20 million. We use a December 31 measurement date for these plans, and generally provide benefits to employees based on formulas recognizing length of service and earnings.

The components of net periodic cost are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Service cost	$	7	$	7	$	21	$	21
Interest cost	15		19		47		59
Expected return on plan assets	(32)		(31)		(95)		(93)

Amortization of net actuarial loss	10		9		30		25
Curtailment/settlement & other loss	1		3		1		3

Net periodic cost	$	1	$	7	$	4	$	15

The service cost component of the net periodic cost is included in operating income (loss) and all other components are included in non-operating income (loss) in our condensed consolidated statements of income (loss).

- Definition

The entire disclosure for retirement benefits.

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We are a partnership for U.S. federal tax purposes, therefore, any tax effects associated with the U.S. are recognized by our Members and not reflected in our provision for income taxes. For the three and nine months ended September 30, 2021, the provision for income taxes was $189 million and $422 million, respectively. The difference between the U.S. statutory tax rate of 21% and the effective tax rate is primarily related to losses with no tax benefit due to valuation allowances and changes in unrecognized tax benefits related to uncertain tax positions. For the three months ended September 30, 2020, the provision for income taxes was $47 million. The difference between the U.S. statutory tax rate of 21% and the effective tax rate is primarily related to losses with no tax benefit due to valuation allowances. For the nine months ended September 30, 2020, the provision for income taxes was $110 million. The difference between the U.S. statutory tax rate of 21% and the effective tax rate is primarily related to non-deductible goodwill impairment, the geographical mix of earnings and losses, and losses with no tax benefit due to valuation allowances

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Equity

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Equity

EQUITY

COMMON UNITS

The BHH LLC Agreement provides that initially there is one class of common units (Units), which are currently held by the Members. If Baker Hughes issues a share of Class A common stock, including in connection with an equity incentive or similar plan, we will also issue a corresponding Unit to Baker Hughes or one of its direct subsidiaries. For the nine months ended September 30, 2021 and 2020 we issued 7,204 thousand and 6,721 thousand Units, respectively, to Baker Hughes or one of its direct subsidiaries in connection with the issuance of its Class A common stock. The Members are entitled through their Units to receive distributions on an equal amount of any dividend paid by Baker Hughes to its Class A shareholders.

During the nine months ended September 30, 2021, GE's economic interest in us was reduced to approximately 17.2% primarily as a result of the exchange of 132.7 million shares of Class B common stock, and associated Units. When shares of Class B common stock, together with associated Units, are exchanged for shares of Class A common stock pursuant to the Exchange Agreement, such shares of Class B common stock, together with associated Units, are canceled.

On July 30, 2021, our Board of Directors authorized us to repurchase up to $2 billion of our Units. We expect to fund the repurchase program from cash generated from operations, and we expect to make Unit 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. During the three months ended September 30, 2021, we repurchased and canceled 4.4 million Units for a total of $106 million. At September 30, 2021, we had authorization remaining to repurchase up to approximately $1.9 billion of our Units.

The following table presents the changes in the number of Units outstanding (in thousands):


	Common Units Held by Baker Hughes		Common Units Held by GE
	2021	2020	2021	2020
Balance at January 1	723,999	650,065	311,433	377,428
Issue of Units to Baker Hughes under equity incentive plan	7,204	6,721	—	—


Exchange of Units	132,706	27,988	(132,706)	(27,988)
Repurchase and cancellation of Units	(4,430)	—	—	—
Balance at September 30	859,480	684,775	178,726	349,440

ACCUMULATED OTHER COMPREHENSIVE LOSS (AOCL)

The following tables present the changes in accumulated other comprehensive loss, net of tax:


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2020	$	—	$	(2,096)	$	5	$	(451)	$	(2,542)
Other comprehensive income (loss) before reclassifications	—		(82)		(6)		47		(41)
Amounts reclassified from accumulated other comprehensive income (loss)	—		31		(7)		32		56
Deferred taxes	—		—		—		(1)		(1)
Other comprehensive income (loss)	—		(51)		(13)		78		14
Less: Other comprehensive loss attributable to noncontrolling interests	—		(1)		—		—		(1)


Balance at September 30, 2021	$	—	$	(2,146)	$	(8)	$	(373)	$	(2,527)


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2019	$	2	$	(2,274)	$	10	$	(327)	$	(2,589)
Other comprehensive loss before reclassifications	(2)		(101)		(5)		(56)		(164)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(2)		35		33
Deferred taxes	—		—		1		(3)		(2)
Other comprehensive (loss)	(2)		(101)		(6)		(24)		(133)
Less: Other comprehensive loss attributable to noncontrolling interests	—		(3)		—		—		(3)

Less: Other adjustments	—		(1)		—		1		—

Balance at September 30, 2020	$	—	$	(2,371)	$	4	$	(352)	$	(2,719)

The amounts reclassified from accumulated other comprehensive loss during the nine months ended September 30, 2021 and 2020 for benefit plans represent amortization of net actuarial gain (loss) which are included in the computation of net periodic pension cost (see "Note 10. Employee Benefit Plans" for additional details) and recorded in "Other non-operating loss, net" in our condensed consolidated statements of income (loss).

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Financial Instruments

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

RECURRING FAIR VALUE MEASUREMENTS

Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities.


	September 30, 2021								December 31, 2020
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	19	$	—	$	19	$	—	$	118	$	—	$	118
Investment securities	403		—		9		411		1,502		—		30		1,532
Total assets	403		19		9		430		1,502		118		30		1,650

Liabilities
Derivatives	—		(30)		—		(30)		—		(52)		—		(52)
Total liabilities	$	—	$	(30)	$	—	$	(30)	$	—	$	(52)	$	—	$	(52)

There were no transfers between Level 1, 2 and 3 during the nine months ended September 30, 2021.

The following table provides a reconciliation of recurring Level 3 fair value measurements for investment securities:


	2021		2020
Balance at January 1	$	30	$	259
Purchases	—		10
Proceeds at maturity	(21)		(168)
Unrealized gains (losses) recognized in accumulated other comprehensive income (loss)	—		(3)
Balance at September 30	$	9	$	98

The most significant unobservable input used in the valuation of our Level 3 instruments is the discount rate. Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value of our investment securities. There are no unrealized gains or losses recognized in the condensed consolidated statement of income (loss) on account of any Level 3 instrument still held at the reporting date.


	September 30, 2021								December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Investment securities
Non-U.S. debt securities (1)	$	9	$	—	$	—	$	9	$	30	$	—	$	—	$	30
Equity securities (2)	61		345		(3)		403		76		1,431		(5)		1,502
Total	$	70	$	345	$	(3)	$	411	$	106	$	1,431	$	(5)	$	1,532

(1)All of our investment securities are classified as available for sale instruments. Non-U.S. debt securities mature within one year.

(2)Gains (losses) recorded to earnings related to these securities were $(141) million and nil for the three months ended September 30, 2021 and 2020, respectively, and $(954) million and $(12) million for the nine months ended September 30, 2021 and 2020, respectively.

As of September 30, 2021 and December 31, 2020, our equity securities are comprised primarily of our investment in C3.ai, which consists of 8,650,476 and 10,813,095 shares, respectively, of C3.ai Class A common stock (C3.ai Shares), with a fair value of $401 million and $1,500 million, respectively. There were no C3.ai Shares sold during the three months ended September 30, 2021. We sold approximately 2.2 million of C3.ai Shares during the nine months ended September 30, 2021 and received proceeds of $145 million. For the three and nine months ended September 30, 2021, we recorded a loss of $140 million and $955 million, respectively, from the net change in fair value of our investment in C3.ai, which is reported in the “Other non-operating loss, net” caption in our condensed consolidated statement of income (loss). See “Note 15. Related Party Transactions” for further details on our agreements with C3.ai.

As of September 30, 2021 and December 31, 2020, $403 million and $1,514 million of total investment securities are recorded in "All other current assets" and $9 million and $18 million are recorded in "All other assets" of the condensed consolidated statements of financial position, respectively.

FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTS

Our financial instruments include cash, cash equivalents, current 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 as of September 30, 2021 and December 31, 2020 approximates their carrying value as reflected in our condensed consolidated financial statements. For further information on the fair value of our debt, see "Note 9. Borrowings."

DERIVATIVES AND HEDGING

We use derivatives to manage our risks and do not use derivatives for speculation. The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.


	September 30, 2021				December 31, 2020
	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Currency exchange contracts	$	—	$	—	$	5	$	—
Interest rate swap contracts	—		(12)		—		—

Derivatives not accounted for as hedges
Currency exchange contracts and other	19		(18)		113		(52)


Total derivatives	$	19	$	(30)	$	118	$	(52)

Derivatives are classified in condensed consolidated statements of financial position depending on their respective maturity date. As of September 30, 2021 and December 31, 2020, $18 million and $115 million of derivative assets are recorded in "All other current assets" and $1 million and $3 million are recorded in "All other assets" of the condensed consolidated statements of financial position, respectively. As of September 30, 2021 and December 31, 2020, $27 million and $48 million of derivative liabilities are recorded in "All other current liabilities" and $4 million and $4 million are recorded in "All other liabilities" of the condensed consolidated statements of financial position, respectively.

FORMS OF HEDGING

Cash Flow Hedges

We use cash flow hedging primarily to reduce or eliminate the effects of foreign exchange rate changes on purchase and sale contracts. Accordingly, the vast majority of our derivative activity in this category consists of currency exchange contracts. In addition, we are exposed to interest rate risk fluctuations in connection with the planned issuance of long-term debt. During the nine months ended September 30, 2021, the Company executed interest rate swap contracts designated as cash flow hedges. These contracts are expected to mitigate interest rate risk associated with the anticipated refinancing of certain portions of long-term debt.

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 12. Members' Equity" for further information on activity in AOCI for cash flow hedges.

As of September 30, 2021 and December 31, 2020, the maximum term of derivative instruments that hedge forecasted transactions was one year.

Fair Value Hedges

All of our long-term debt is comprised of fixed rate instruments. We are subject to interest rate risk on our debt portfolio and may use interest rate swaps to manage the economic effect of fixed rate obligations associated with certain debt. Under these arrangements, we agree 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 September 30, 2021, we had interest rate swaps with a notional amount of $500 million that converted a portion of our $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 LIBOR index as a hedge of its exposure to changes in fair value that are attributable to interest rate risk. We concluded that the interest rate swap met the criteria necessary to qualify for the short-cut method of hedge accounting, and as such, an assumption is made that the change in the fair value of the hedged debt, due to changes in the benchmark rate, exactly offsets the change in the fair value of

the interest rate swaps. Therefore, the derivative is considered to be effective at achieving offsetting changes in the fair value of the hedged liability, and no ineffectiveness is recognized. The mark-to-market of this fair value hedge is recorded as gains or losses in interest expense and is equally offset by the gain or loss of the underlying debt instrument, which also is recorded in interest expense.

Economic Hedges

These derivatives are not designated as hedges from an accounting standpoint (and therefore we do not apply hedge accounting to the relationship) but otherwise serve the same economic purpose as other hedging arrangements. Economic hedges are marked to fair value through earnings each period.

The following table summarizes the gains (losses) from derivatives not designated as hedges in the condensed consolidated statements of income (loss).


Derivatives not designated as hedging instruments	Condensed consolidated statement of income caption	Three Months Ended September 30,				Nine Months Ended September 30,
		2021		2020		2021		2020
Currency exchange contracts (1)	Cost of goods sold	$	(2)	$	20	$	7	$	37
Currency exchange contracts	Cost of services sold	8		17		—		63
Commodity derivatives	Cost of goods sold	—		3		5		2
Other derivatives	Other non-operating loss, net	—		—		—		8
Total (2)		$	6	$	40	$	12	$	110

(1)Excludes gains of $2 million and losses of $14 million on embedded derivatives for the three months ended September 30, 2021 and 2020, respectively, and gains of $5 million and losses of $9 million during the nine months ended September 30, 2021 and 2020, respectively, as embedded derivatives are not considered to be hedging instruments in our economic hedges.

(2)The effect on earnings of derivatives not designated as hedges is substantially offset by the change in fair value of the economically hedged items in the current and future periods.

NOTIONAL AMOUNT OF DERIVATIVES

The notional amount of a derivative is the number of units of the underlying. A substantial majority of the outstanding notional amount of $5.3 billion and $7.0 billion at September 30, 2021 and December 31, 2020, 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. We generally disclose derivative notional amounts on a gross basis to indicate the total counterparty risk. Where we have gross purchase and sale derivative contracts for a particular currency, we look to execute these contracts with the same counterparty to reduce our exposure. The notional amount of these derivative instruments do not generally represent cash amounts exchanged by us and the counterparties, but rather the nominal amount upon which changes in the value of the derivatives are measured.

COUNTERPARTY CREDIT RISK

Fair values of our derivatives can change significantly from period to period based on, among other factors, market movements and changes in our positions. We manage counterparty credit risk (the risk that counterparties will default and not make payments to us according to the terms of our agreements) on an individual counterparty basis.

OTHER EQUITY INVESTMENTS

As of September 30, 2021 and December 31, 2020, the carrying amount of equity securities without readily determinable fair values was $572 million and $554 million, respectively, and includes $500 million related to our five percent investment in ADNOC Drilling. These investments are recorded in "All other assets" of the condensed consolidated statements of financial position.

Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Our reportable segments, which are the same as our operating segments, are organized based on the nature of markets and customers. We report our operating results through our four operating segments that consist of similar products and services within each segment. These products and services operate across upstream oil & gas and broader energy and industrial markets.

OILFIELD SERVICES (OFS)

Oilfield Services provides discrete products and integrated well services for onshore and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention. Products and services include drilling services, including directional drilling technology, measurement while drilling & logging while drilling, oilfield and industrial chemicals, artificial lift technologies, including electrical submersible pumps, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping, drilling and completions fluids, wireline services and diamond and tri-cone drill bits.

OILFIELD EQUIPMENT (OFE)

Oilfield Equipment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the wellhead to the production facilities. The Oilfield Equipment portfolio has solutions for the subsea, offshore surface, and onshore operating environments. Products and services include subsea and surface pressure control and production systems and services, flexible pipe systems for offshore and onshore applications, and life-of-field solutions including well intervention, covering the entire life cycle of a field.

TURBOMACHINERY & PROCESS SOLUTIONS (TPS)

Turbomachinery & Process Solutions provides technology solutions and services for mechanical-drive, compression and power-generation applications across the energy industry, including oil and gas, liquefied natural gas (LNG) operations, downstream refining and petrochemical segments, as well as decarbonization solutions to broader energy and industrial sectors. The Turbomachinery & Process Solutions portfolio includes drivers (aero-derivative gas turbines, heavy-duty gas turbines and synchronous and induction electric motors), compressors (centrifugal and axial, direct drive high speed, integrated, subsea compressors, turbo expanders and reciprocating), turnkey solutions (industrial modules and waste heat recovery), pumps, valves, and compressed natural gas (CNG) and small-scale LNG solutions.

DIGITAL SOLUTIONS (DS)

Digital Solutions provides equipment, software, and services for a wide range of industries, including oil & gas, power generation, aerospace, metals, and transportation. The offerings include a number of products and solutions that provide industrial asset management capabilities, including sensor-based process measurement, machine health and condition monitoring, asset strategy and management, control systems, as well as non-destructive testing and inspection, and pipeline integrity solutions.

SEGMENT RESULTS

Segment revenue and profit are determined based on the internal performance measures used by the Company to assess the performance of each segment in a financial period. Summarized financial information is shown in the following tables. Consistent accounting policies have been applied by all segments within the Company, for all reporting periods.


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment revenue	2021		2020		2021		2020
Oilfield Services	$	2,419	$	2,308	$	6,976	$	7,858
Oilfield Equipment	603		726		1,867		2,133
Turbomachinery & Process Solutions	1,562		1,513		4,675		3,759
Digital Solutions	510		503		1,499		1,460
Total	$	5,093	$	5,049	$	15,017	$	15,210

The performance of our operating segments is evaluated based on segment operating income (loss), which is defined as income (loss) before income taxes before the following: net interest expense, net other non-operating income (loss), corporate expenses, restructuring, impairment and other charges, inventory impairments, separation related costs, goodwill impairments and certain gains and losses not allocated to the operating segments.


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment income (loss) before income taxes	2021		2020		2021		2020
Oilfield Services	$	190	$	93	$	505	$	345
Oilfield Equipment	14		19		45		(4)
Turbomachinery & Process Solutions	278		191		705		473
Digital Solutions	26		46		75		117
Total segment	508		349		1,330		931
Corporate	(105)		(115)		(324)		(353)
Goodwill impairment	—		—		—		(14,717)
Inventory impairment (1)	—		(42)		—		(218)
Restructuring, impairment and other	(14)		(209)		(219)		(1,637)
Separation related	(11)		(32)		(53)		(110)
Other non-operating loss, net	(102)		(149)		(791)		(367)
Interest expense, net	(67)		(66)		(205)		(195)
Income (loss) before income taxes	$	209	$	(264)	$	(260)	$	(16,666)

(1)Charges for inventory impairments are predominantly reported in the "Cost of goods sold" caption of the condensed consolidated statements of income (loss).

The following table presents depreciation and amortization by segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment depreciation and amortization	2021		2020		2021		2020
Oilfield Services	$	183	$	217	$	578	$	714
Oilfield Equipment	22		35		81		114
Turbomachinery & Process Solutions	30		33		90		87
Digital Solutions	22		24		66		73
Total segment	257		309		815		988
Corporate	5		6		17		22
Total	$	262	$	315	$	832	$	1,010

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS WITH GE Our most significant related party transactions are transactions that we have entered into with our Members and their affiliates. We have continuing involvement with GE primarily through their remaining interest in us, ongoing purchases and sales of products and services, transition services that they provide, as well as an aeroderivative joint venture (Aero JV) we formed with GE in 2019. We also enter into certain transactions with Baker Hughes as provided in the BHH LLC Agreement. Until GE and its affiliates own less than 20% of the voting power of Baker Hughes' outstanding common stock, which includes both Class A and B common stock, GE is entitled to designate one person for nomination to our board of directors. At September 30, 2021 and December 31, 2020, GE's ownership interest in BHH LLC was 17.2% and 30.1%, respectively. At September 30, 2021, GE owned Class A common stock in addition to their Class B common stock, which represents their overall Baker Hughes ownership of 20.6%. The Aero JV is jointly controlled by GE and us, and therefore, we do not consolidate the JV. We had purchases with GE and its affiliates, including the Aero JV, of $366 million and $384 million during the three months ended September 30, 2021 and 2020, respectively, and $988 million and $993 million during the nine months ended September 30, 2021 and 2020, respectively. In addition, we sold products and services to GE and its affiliates for $48 million and $46 million during the three months ended September 30, 2021 and 2020, respectively, and $136 million and $150 million during the nine months ended September 30, 2021 and 2020, respectively. The Company has $300 million and $356 million of accounts payable at September 30, 2021 and December 31, 2020, respectively, for goods and services provided by GE in the ordinary course of business. The Company has $362 million and $429 million of current receivables at September 30, 2021 and December 31, 2020, respectively, for goods and services provided to GE in the ordinary course of business. Additionally, the Company has $77 million and $78 million of current receivables at September 30, 2021 and December 31, 2020, respectively, from Baker Hughes. On July 3, 2017, we executed a promissory note with GE that represents certain cash that we are holding on GE's behalf due to the restricted nature of the cash. The restriction arises as the majority of the cash cannot be released, transferred or otherwise converted into a non-restricted market currency due to the lack of market liquidity, capital controls or similar monetary or exchange limitations by a government entity of the jurisdiction in which such cash is situated. There is no maturity date on the promissory note, but we remain obligated to repay GE, therefore, this obligation is reflected as short-term borrowings. As of September 30, 2021, of the $11 million due to GE, all was held in the form of cash. As of December 31, 2020, of the $45 million due to GE, $44 million was held in the form of cash and $1 million was held in the form of investment securities. A corresponding liability is reported in short-term debt in the condensed consolidated statements of financial position. RELATED PARTY TRANSACTIONS WITH C3.ai We have agreements with C3.ai under which, among other things, we received a subscription (which we refer to below as direct subscription fees) to use certain C3.ai offerings for internal use and the development of applications on the C3.ai AI Suite, as well as the right to resell C3.ai offerings worldwide on an exclusive basis in the oil and gas market and, with C3.ai's prior consent, non-exclusively in other markets, in each case subject to certain exceptions and conditions. The agreement has an expiration date in the fiscal year ending April 30, 2024 with annual contractual amounts of our minimum revenue commitment of $75 million, $125 million, and $150 million per year, which amounts are inclusive of direct subscription fees of approximately $28 million per year, over the fiscal years ending April 30, 2022, 2023, and 2024, respectively. To the extent we are unable to meet the annual minimum revenue commitment under such arrangement, we are obligated to pay C3.ai the shortfall; if we exceed the annual minimum revenue commitment, C3.ai will pay us a sales commission. Lorenzo Simonelli, Chief Executive Officer of Baker Hughes, serves as a member of the board of directors of C3.ai. See “Note 13. Financial Instruments” for further discussion of our investment in C3.ai.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES LITIGATION We are subject to legal proceedings arising in the ordinary course of our business. Because legal proceedings are inherently uncertain, we are unable to predict the ultimate outcome of such matters. We record a liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. Based on the opinion of management, we do not expect the ultimate outcome of currently pending legal proceedings to have a material adverse effect on our results of operations, financial position or cash flows. However, there can be no assurance as to the ultimate outcome of these matters. In January 2013, INEOS and Naphtachimie initiated expertise proceedings in Aix-en-Provence, France arising out of a fire at a chemical plant owned by INEOS in Lavera, France, which resulted in a 15-day plant shutdown and destruction of a steam turbine, which was part of a compressor train owned by Naphtachimie. The most recent quantification of the alleged damages is €250 million. Two of the Company's subsidiaries (and 17 other companies) were notified to participate in the proceedings. The proceedings are ongoing, and at this time, there is no indication that the Company's subsidiaries were involved in the incident. Although the outcome of the claims remains uncertain, our insurer has accepted coverage and is defending the Company in the expertise proceeding. On July 31, 2018, International Engineering & Construction S.A. (IEC) initiated arbitration proceedings in New York administered by the International Center for Dispute Resolution (ICDR) against the Company and its subsidiaries arising out of a series of sales and service contracts entered between IEC and the Company’s subsidiaries for the sale and installation of LNG plants and related power generation equipment in Nigeria (Contracts). Prior to the filing of the IEC Arbitration, the Company’s subsidiaries made demands for payment due under the Contracts. On August 15, 2018, the Company’s subsidiaries initiated a separate demand for ICDR arbitration against IEC for claims of additional costs and amounts due under the Contracts. On October 10, 2018, IEC filed a Petition to Compel Arbitration in the United States District Court for the Southern District of New York against the Company seeking to compel non-signatory Baker Hughes entities to participate in the arbitration filed by IEC. The complaint is captioned International Engineering & Construction S.A. et al. v. Baker Hughes, a GE company, LLC, et al. No. 18-cv-09241 (S.D.N.Y 2018); this action was dismissed by the Court on August 13, 2019. In the arbitration, IEC alleges breach of contract and other claims against the Company and its subsidiaries and seeks recovery of alleged compensatory damages, in addition to reasonable attorneys' fees, expenses and arbitration costs. On March 15, 2019, IEC amended its request for arbitration to alleged damages of $591 million of lost profits plus unspecified additional costs based on alleged non-performance of the contracts in dispute. The arbitration hearing was held from December 9, 2019 to December 20, 2019. On March 3, 2020, IEC amended their damages claim to $700 million of alleged loss cash flow or, in the alternative, $244.9 million of lost profits and various costs based on alleged non-performance of the contracts in dispute, and in addition $4.8 million of liquidated damages, $58.6 million in take-or-pay costs of feed gas, and unspecified additional costs of rectification and take-or-pay future obligations, plus unspecified interest and attorneys' fees. On May 3, 2020, the arbitration panel dismissed IEC's request for take-or-pay damages. On May 29, 2020, IEC quantified their claim for legal fees at $14.2 million and reduced their alternative claim from $244.9 million to approximately $235 million. The Company and its subsidiaries have contested IEC’s claims and are pursuing claims for compensation under the contracts. On October 31, 2020, the ICDR notified the arbitration panel’s final award, which dismissed the majority of IEC’s claims and awarded a portion of the Company’s claims. On January 27, 2021, IEC filed a petition to vacate the arbitral award in the Supreme Court of New York, County of New York. On March 5, 2021, the Company filed a petition to confirm the arbitral award, and on March 8, 2021, the Company removed the matter to the United States District Court for the Southern District of New York. At this time, we are not able to predict the outcome of these proceedings. On March 15, 2019 and March 18, 2019, the City of Riviera Beach Pension Fund and Richard Schippnick, respectively, filed in the Delaware Court of Chancery shareholder derivative lawsuits for and on Baker Hughes' behalf against GE, the then-current members of the Board of Directors of Baker Hughes and Baker Hughes as a nominal defendant, related to the decision to (i) terminate the contractual prohibition barring GE from selling any of Baker Hughes' shares before July 3, 2019; (ii) repurchase $1.5 billion in Baker Hughes' stock from GE; (iii) permit GE to sell approximately $2.5 billion in Baker Hughes' stock through a secondary offering; and (iv) enter into a series of other agreements and amendments that will govern the ongoing relationship between Baker Hughes and GE (collectively, the “2018 Transactions”). The complaints in both lawsuits allege, among other things, that GE, as Baker Hughes' controlling stockholder, and the members of Baker Hughes' Board of Directors breached their fiduciary duties by entering into the 2018 Transactions. The relief sought in the complaints includes a request for a declaration that the defendants breached their fiduciary duties, that GE was unjustly enriched, disgorgement of profits, an award of damages sustained by Baker Hughes, pre- and post-judgment interest, and attorneys’ fees and costs. On March 21, 2019, the Chancery Court entered an order consolidating the Schippnick and City of Riviera Beach complaints under consolidated C.A. No. 2019-0201-AGB, styled in re Baker Hughes, a GE company derivative litigation. On May 10, 2019, Plaintiffs voluntarily dismissed their claims against the members of Baker Hughes' Conflicts Committee, and on May 15, 2019, Plaintiffs voluntarily dismissed their claims against former Baker Hughes director Martin Craighead. On June 7, 2019, the defendants and nominal defendant filed a motion to dismiss the lawsuit on the ground that the derivative plaintiffs failed to make a demand on Baker Hughes' Board of Directors to pursue the claims itself, and GE and Baker Hughes' Board of Directors filed a motion to dismiss the lawsuit on the ground that the complaint failed to state a claim on which relief can be granted. The Chancery Court denied the motions on October 8, 2019, except granted GE’s motion to dismiss the unjust enrichment claim against it. On October 31, 2019, Baker Hughes' Board of Directors designated a Special Litigation Committee and empowered it with full authority to investigate and evaluate the allegations and issues raised in the derivative litigation. The Special Litigation Committee filed a motion to stay the derivative litigation during its investigation. On December 3, 2019, the Chancery Court granted the motion and stayed the derivative litigation until June 1, 2020. On May 20, 2020, the Chancery Court granted an extension of the stay to October 1, 2020, and on September 29, 2020, the Court granted a further extension of the stay to October 15, 2020. On October 13, 2020, the Special Litigation Committee filed its report with the Court. At this time, we are not able to predict the outcome of these claims. In March 2019, Baker Hughes received a document request from the United States Department of Justice (the “DOJ”) related to certain of Baker Hughes' operations in Iraq and its dealings with Unaoil Limited and its affiliates. In December 2019, Baker Hughes received a similar document request from the SEC. Baker Hughes has cooperated with the DOJ and the SEC in connection with their requests and any related matters. On September 30, 2021, Baker Hughes was informed that the matter has been closed and no enforcement action has been taken. On August 13, 2019, Tri-State Joint Fund filed in the Delaware Court of Chancery, a shareholder class action lawsuit for and on the behalf of itself and all similarly situated public stockholders of Baker Hughes Incorporated against the General Electric Company (GE), the former members of the Board of Directors of BHI, and certain former BHI Officers alleging breaches of fiduciary duty, aiding and abetting, and other claims in connection with the combination of BHI and the oil and gas business (GE O&G) of GE (the Transactions). On October 28, 2019, City of Providence filed in the Delaware Court of Chancery a shareholder class action lawsuit for and on behalf of itself and all similarly situated public shareholders of BHI against GE, the former members of the Board of Directors of BHI, and certain former BHI Officers alleging substantially the same claims in connection with the Transactions. The relief sought in these complaints include a request for a declaration that Defendants breached their fiduciary duties, an award of damages, pre- and post-judgment interest, and attorneys’ fees and costs. The lawsuits have been consolidated, and plaintiffs filed a consolidated class action complaint on December 17, 2019 against certain former BHI officers alleging breaches of fiduciary duty and against GE for aiding and abetting those breaches. The December 2019 complaint omitted the former members of the Board of Directors of BHI, except for Mr. Craighead who also served as President and CEO of BHI. Mr. Craighead and Ms. Ross, who served as Senior Vice President and Chief Financial Officer of BHI, remain named in the December 2019 complaint along with GE. The relief sought in the consolidated complaint includes a declaration that the former BHI officers breached their fiduciary duties and that GE aided and abetted those breaches, an award of damages, pre- and post-judgment interest, and attorneys’ fees and costs. On or around February 12, 2020, the defendants filed motions to dismiss the lawsuit on the grounds that the complaint failed to state a claim on which relief could be granted. On or around October 27, 2020, the Chancery Court granted GE’s motion to dismiss, and granted in part the motion to dismiss filed by Mr. Craighead and Ms. Ross, thereby dismissing all of the claims against GE and Ms. Ross, and all but one of the claims against Mr. Craighead. At this time, we are not able to predict the outcome of the remaining claim. On December 11, 2019, BMC Software, Inc. (“BMC”) filed a lawsuit in federal court in the Southern District of Texas against Baker Hughes, a GE company, LLC alleging trademark infringement, unfair competition, and unjust enrichment, arising out of the Company’s use of its new logo and affiliated branding. On January 1, 2020, BMC amended its complaint to add Baker Hughes Company. The relief sought in the complaint includes a request for injunctive relief, an award of damages (including punitive damages), pre- and post-judgment interest, and attorneys’ fees and costs. At this time, we are not able to predict the outcome of these claims. In December 2020, Baker Hughes received notice that the SEC is conducting a formal investigation that Baker Hughes understands is related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions. Baker Hughes is cooperating with the SEC and providing requested information. Baker Hughes has also initiated an internal review with the assistance of external legal counsel regarding internal controls and compliance related to U.S. sanctions requirements. While Baker Hughes' review remains ongoing, in September 2021, Baker Hughes voluntarily informed the Office of Foreign Assets Control (OFAC) that non-U.S. Baker Hughes affiliates in two foreign countries appear to have received payments, involving U.S. touchpoints, that are subject to debt restrictions pursuant to applicable U.S. sanctions laws. Although the value of the payments in connection with the identified transactions is immaterial, Baker Hughes is unable to determine at this time if any remedial or other actions may be taken by OFAC. Baker Hughes provided a copy of the letter to the SEC, and, as the SEC investigation is ongoing, Baker Hughes cannot anticipate the timing, outcome or possible impact of the investigation or review, financial or otherwise. We insure against risks arising from our business to the extent deemed prudent by our 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 us against liabilities arising out of pending or future legal proceedings or other claims. Most of our insurance policies contain deductibles or self-insured retentions in amounts we deem prudent and for which we are responsible for payment. In determining the amount of self-insurance, it is our 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. OTHER In the normal course of business with customers, vendors and others, we have entered into off-balance sheet arrangements, such as surety bonds for performance, letters of credit and other bank issued guarantees. We also provide guarantees to GE Capital on behalf of some customers who have entered into financing arrangements with GE Capital. Total off-balance sheet arrangements were approximately $4.5 billion at September 30, 2021. It is not practicable to estimate the fair value of these financial instruments. None of the off-balance sheet arrangements either has, or is likely to have, a material effect on our financial position, results of operations or cash flows. We sometimes enter into consortium or similar arrangements for certain projects primarily in our Oilfield Equipment segment. 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 us. These factors could result in unanticipated costs to complete the project, liquidated damages or contract disputes.

Restructuring, Impairment and Other

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring, Impairment and Other

RESTRUCTURING, IMPAIRMENT AND OTHERWe recorded restructuring, impairment and other charges of $14 million and $209 million during the three months ended September 30, 2021 and 2020, respectively, and $219 million and $1,637 million during the nine months ended September 30, 2021 and 2020, respectively. Charges incurred in 2021 are primarily related to the continuation of our overall strategy to right-size our structural costs for the year-over-year change in activity levels and market conditions. Details of these charges are discussed below.

RESTRUCTURING AND IMPAIRMENT

The following table presents restructuring and impairment charges by the impacted segment, however, these charges are not included in the reported segment results:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Oilfield Services	$	14	$	144	$	119	$	453
Oilfield Equipment	3		21		4		121
Turbomachinery & Process Solutions	(3)		7		11		27
Digital Solutions	—		18		3		52
Corporate	—		1		7		15
Total	$	14	$	191	$	144	$	668

Restructuring and impairment charges were primarily related to employee termination expenses from reducing our headcount in certain geographical locations, and product line rationalization, including facility closures and related expenses such as property, plant & equipment impairments and contract termination fees. The table below includes any gains on the dispositions of certain property, plant & equipment previously impaired as a consequence of exit activities. Details of these charges are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Property, plant & equipment, net	$	(1)	$	65	$	21	$	214
Employee-related termination expenses	1		108		94		406

Contract termination fees	3		1		4		23
Other incremental costs	11		17		25		25
Total	$	14	$	191	$	144	$	668

OTHER

During the three months ended September 30, 2021, there were no other charges incurred. During the nine months ended September 30, 2021, we incurred other charges of $75 million. During the three and nine months ended September 30, 2020, we incurred other charges of $18 million and $969 million, respectively.

Charges for the nine months ended September 30, 2021 were primarily related to certain litigation matters in our TPS segment and the release of foreign currency translation adjustments for certain restructured product lines in our DS segment.

Charges for the nine months ended September 30, 2020 were comprised of intangible asset impairments of $605 million driven by our decision to exit certain businesses primarily in our OFS segment, other long-lived asset impairments of $216 million ($124 million of intangible assets, $77 million of property, plant and equipment and $15 million of other assets) in our OFE segment and other charges of $73 million driven by certain litigation matters and impairment of an equity method investment primarily in corporate and the OFE segment, and charges related to corporate facility rationalization.

Assets and Liabilities of Business Held for Sale

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities of Business Held for Sale

ASSETS AND LIABILITIES OF BUSINESS HELD FOR SALE

In March 2021, we announced that we entered into an agreement with Akastor ASA to create a joint venture company (JV Company) to deliver global offshore drilling solutions. The JV Company will be known as HMH and owned 50-50 by Baker Hughes and Akastor ASA. Consequently, on October 1, 2021, we closed the transaction and contributed our subsea drilling systems (SDS) business, a division of our Oilfield Equipment segment, to the JV Company and received as consideration 50% of the shares of the JV Company and $200 million cash of which $120 million was paid at the time of closing. The JV Company issued notes to Baker Hughes for $80 million representing the balance of the consideration owed that will be subordinated to the JV Company’s external debt financing. Our ongoing operations in the JV Company will not be integral to our operations. The Company's interest in the JV Company will be accounted for as an equity method investment.

As of September 30, 2021, the SDS business was classified as held for sale and measured and reported at the lower of its carrying amount or fair value less costs to sell. Based on our preliminary estimates, the carrying value is expected to approximate the fair value less costs to sell, which would include deal costs and foreign currency translation adjustments associated with this business. The following table presents financial information related to the assets and liabilities of the SDS business being contributed to the JV Company that are classified as held for sale and reported in "All other current assets" and "All other current liabilities" in our condensed consolidated statement of financial position as of September 30, 2021.


Assets and liabilities of business held for sale	September 30, 2021
Assets

Current assets (1)	$	122

Property, plant and equipment	108
Intangible assets	122
All other assets	56
Total assets	408
Liabilities
Current liabilities	48


All other liabilities	6
Total liabilities	54
Total carrying amount of net assets contributed	$	354

(1)On the closing date, we contributed cash in lieu of customer receivables, which was incremental to the assets held for sale detailed in the table above

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited condensed 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 interim financial information. Accordingly, certain information and disclosures normally included in our annual financial statements have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 (2020 Annual Report). In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state our results of operations, financial position and cash flows of the Company and its subsidiaries for the periods presented and are not indicative of the results that may be expected for a full year. The Company's financial statements have been prepared on a consolidated basis. Under this basis of presentation, our financial statements consolidate all of our subsidiaries (entities in which we have a controlling financial interest, most often because we hold a majority voting interest). All intercompany accounts and transactions have been eliminated. In the Company's financial statements and notes, certain amounts have been reclassified to conform to the current year presentation. In the notes to unaudited condensed consolidated financial statements, all dollar and common unit amounts in tabulations are in millions of dollars and units, respectively, unless otherwise indicated. Certain columns and rows in our financial statements and notes thereto may not add due to the use of rounded numbers. Separation related costs as reflected in our condensed consolidated statements of income (loss) include costs incurred in connection with the ongoing activities related to our separation from GE. See "Note 15. Related Party Transactions" for further information.
Cash and Cash Equivalents	Cash and Cash Equivalents As of September 30, 2021 and December 31, 2020, we had $691 million and $687 million, respectively, of cash held in bank accounts that cannot be released, transferred or otherwise converted into a currency that is regularly transacted internationally, due to lack of market liquidity, capital controls or similar monetary or exchange limitations limiting the flow of capital out of the jurisdiction. These funds are available to fund operations and growth in these jurisdictions, and we do not currently anticipate a need to transfer these funds to the U.S.
New Accounting Standards To Be Adopted	NEW ACCOUNTING STANDARDS TO BE ADOPTED All 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 our financial position or results of operations.
Fair Value Measurements	The most significant unobservable input used in the valuation of our Level 3 instruments is the discount rate. Discount rates are determined based on inputs that market participants would use when pricing investments, including credit and liquidity risk. An increase in the discount rate would result in a decrease in the fair value of our investment securities.

Revenue Related to Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregated revenue from contracts with customers by primary geographical markets

We disaggregate our revenue from contracts with customers by primary geographic markets.


	Three Months Ended September 30,				Nine Months Ended September 30,
Total Revenue	2021		2020		2021		2020
U.S.	$	1,199	$	1,032	$	3,337	$	3,330
Non-U.S.	3,894		4,017		11,680		11,880
Total	$	5,093	$	5,049	$	15,017	$	15,210

Current Receivables (Tables)

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Current receivables

Current receivables are comprised of the following:


	September 30, 2021		December 31, 2020
Customer receivables	$	4,569	$	4,676
Related parties	439		507
Other	782		890
Total current receivables	5,790		6,073
Less: Allowance for credit losses	(387)		(373)
Total current receivables, net	$	5,403	$	5,700

Inventories (Tables)

9 Months Ended

Sep. 30, 2021

Inventory, Net [Abstract]

Inventories, net of reserves

Inventories, net of reserves of $390 million and $421 million as of September 30, 2021 and December 31, 2020, respectively, are comprised of the following:


	September 30, 2021		December 31, 2020
Finished goods	$	2,255	$	2,337
Work in process and raw materials	1,855		2,084

Total inventories, net	$	4,110	$	4,421

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The changes in the carrying value of goodwill are detailed below by segment:


	Oilfield Services		Oilfield Equipment		Turbo- machinery & Process Solutions		Digital Solutions		Total
Balance at December 31, 2019, gross	$	15,382	$	4,186	$	2,171	$	2,411	$	24,150
Accumulated impairment at December 31, 2019	(2,633)		(867)		—		(254)		(3,754)
Balance at December 31, 2019	12,749		3,319		2,171		2,157		20,396
Impairment	(11,428)		(3,289)		—		—		(14,717)
Currency exchange and others	(20)		(24)		63		41		60
Balance at December 31, 2020	1,301		6		2,234		2,198		5,739

Currency exchange and others	—		(3)		(20)		61		38
Balance at September 30, 2021	$	1,301	$	3	$	2,214	$	2,259	$	5,777

Schedule of finite-lived intangible assets

Intangible assets are comprised of the following:


	September 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,944	$	(749)	$	1,195	$	2,261	$	(916)	$	1,345
Technology	1,105		(741)		364		1,127		(696)		431
Trade names and trademarks	293		(168)		125		326		(181)		145
Capitalized software	1,306		(1,062)		244		1,294		(1,041)		253


Finite-lived intangible assets	4,648		(2,720)		1,928		5,008		(2,834)		2,174
Indefinite-lived intangible assets	2,223		—		2,223		2,223		—		2,223
Total intangible assets	$	6,871	$	(2,720)	$	4,151	$	7,231	$	(2,834)	$	4,397

Schedule of indefinite-lived intangible assets

Intangible assets are comprised of the following:


	September 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,944	$	(749)	$	1,195	$	2,261	$	(916)	$	1,345
Technology	1,105		(741)		364		1,127		(696)		431
Trade names and trademarks	293		(168)		125		326		(181)		145
Capitalized software	1,306		(1,062)		244		1,294		(1,041)		253


Finite-lived intangible assets	4,648		(2,720)		1,928		5,008		(2,834)		2,174
Indefinite-lived intangible assets	2,223		—		2,223		2,223		—		2,223
Total intangible assets	$	6,871	$	(2,720)	$	4,151	$	7,231	$	(2,834)	$	4,397

Schedule of finite-lived intangible assets, future amortization expense

Estimated amortization expense for the remainder of 2021 and each of the subsequent five fiscal years is expected to be as follows:


Year	Estimated Amortization Expense
Remainder of 2021	$	58
2022	213
2023	200
2024	182
2025	135
2026	92

Contract and Other Deferred Assets (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Contract assets

Contract assets are comprised of the following:


	September 30, 2021		December 31, 2020
Long-term product service agreements	$	644	$	660
Long-term equipment contracts (1)	909		1,160
Contract assets (total revenue in excess of billings)	1,553		1,820
Deferred inventory costs	153		138
Non-recurring engineering costs	32		43

Contract and other deferred assets	$	1,738	$	2,001

(1)Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements.Contract liabilities are comprised of the following:


	September 30, 2021		December 31, 2020
Progress collections	$	3,140	$	3,352
Deferred income	123		102
Progress collections and deferred income (contract liabilities)	$	3,263	$	3,454

Progress Collections and Deferred Income (Tables)

9 Months Ended

Sep. 30, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Contract liabilities

Contract assets are comprised of the following:


	September 30, 2021		December 31, 2020
Long-term product service agreements	$	644	$	660
Long-term equipment contracts (1)	909		1,160
Contract assets (total revenue in excess of billings)	1,553		1,820
Deferred inventory costs	153		138
Non-recurring engineering costs	32		43

Contract and other deferred assets	$	1,738	$	2,001


	September 30, 2021		December 31, 2020
Progress collections	$	3,140	$	3,352
Deferred income	123		102
Progress collections and deferred income (contract liabilities)	$	3,263	$	3,454

Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Schedule of operating lease expense

Our leasing activities primarily consist of operating leases for administrative offices, manufacturing facilities, research centers, service centers, sales offices and certain equipment.


	Three Months Ended September 30,				Nine Months Ended September 30,
Operating Lease Expense	2021		2020		2021		2020
Long-term fixed lease	$	64	$	71	$	192	$	213
Long-term variable lease	7		3		24		23
Short-term lease	119		102		328		382
Total operating lease expense	$	190	$	176	$	544	$	618

Borrowings (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Short-term and long-term borrowings

Short-term and long-term borrowings are comprised of the following:


	September 30, 2021		December 31, 2020
Short-term borrowings


Commercial paper	$	—	$	801
Short-term borrowings from GE	11		45
Other borrowings	45		43
Total short-term borrowings	56		889


Long-term borrowings

2.773% Senior Notes due December 2022	1,249		1,247
8.55% Debentures due June 2024	119		123
3.337% Senior Notes due December 2027	1,341		1,344
6.875% Notes due January 2029	280		284
3.138% Senior Notes due November 2029	522		522
4.486% Senior Notes due May 2030	497		497
5.125% Senior Notes due September 2040	1,293		1,297
4.08% Senior Notes due December 2047	1,337		1,337
Other long-term borrowings	70		93
Total long-term borrowings	6,708		6,744
Total borrowings	$	6,764	$	7,633

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2021

Retirement Benefits [Abstract]

Schedule of net periodic cost

The components of net periodic cost are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Service cost	$	7	$	7	$	21	$	21
Interest cost	15		19		47		59
Expected return on plan assets	(32)		(31)		(95)		(93)

Amortization of net actuarial loss	10		9		30		25
Curtailment/settlement & other loss	1		3		1		3

Net periodic cost	$	1	$	7	$	4	$	15

Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of changes in number of shares outstanding

The following table presents the changes in the number of Units outstanding (in thousands):


	Common Units Held by Baker Hughes		Common Units Held by GE
	2021	2020	2021	2020
Balance at January 1	723,999	650,065	311,433	377,428
Issue of Units to Baker Hughes under equity incentive plan	7,204	6,721	—	—


Exchange of Units	132,706	27,988	(132,706)	(27,988)
Repurchase and cancellation of Units	(4,430)	—	—	—
Balance at September 30	859,480	684,775	178,726	349,440

Schedule of accumulated other comprehensive loss

The following tables present the changes in accumulated other comprehensive loss, net of tax:


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2020	$	—	$	(2,096)	$	5	$	(451)	$	(2,542)
Other comprehensive income (loss) before reclassifications	—		(82)		(6)		47		(41)
Amounts reclassified from accumulated other comprehensive income (loss)	—		31		(7)		32		56
Deferred taxes	—		—		—		(1)		(1)
Other comprehensive income (loss)	—		(51)		(13)		78		14
Less: Other comprehensive loss attributable to noncontrolling interests	—		(1)		—		—		(1)


Balance at September 30, 2021	$	—	$	(2,146)	$	(8)	$	(373)	$	(2,527)


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2019	$	2	$	(2,274)	$	10	$	(327)	$	(2,589)
Other comprehensive loss before reclassifications	(2)		(101)		(5)		(56)		(164)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(2)		35		33
Deferred taxes	—		—		1		(3)		(2)
Other comprehensive (loss)	(2)		(101)		(6)		(24)		(133)
Less: Other comprehensive loss attributable to noncontrolling interests	—		(3)		—		—		(3)

Less: Other adjustments	—		(1)		—		1		—

Balance at September 30, 2020	$	—	$	(2,371)	$	4	$	(352)	$	(2,719)

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Assets and liabilities measured at fair value on a recurring basis

Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities.


	September 30, 2021								December 31, 2020
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	19	$	—	$	19	$	—	$	118	$	—	$	118
Investment securities	403		—		9		411		1,502		—		30		1,532
Total assets	403		19		9		430		1,502		118		30		1,650

Liabilities
Derivatives	—		(30)		—		(30)		—		(52)		—		(52)
Total liabilities	$	—	$	(30)	$	—	$	(30)	$	—	$	(52)	$	—	$	(52)

Reconciliation of recurring Level 3 fair value measurements

The following table provides a reconciliation of recurring Level 3 fair value measurements for investment securities:


	2021		2020
Balance at January 1	$	30	$	259
Purchases	—		10
Proceeds at maturity	(21)		(168)
Unrealized gains (losses) recognized in accumulated other comprehensive income (loss)	—		(3)
Balance at September 30	$	9	$	98

Schedule of investment securities classified as available for sale


	September 30, 2021								December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Investment securities
Non-U.S. debt securities (1)	$	9	$	—	$	—	$	9	$	30	$	—	$	—	$	30
Equity securities (2)	61		345		(3)		403		76		1,431		(5)		1,502
Total	$	70	$	345	$	(3)	$	411	$	106	$	1,431	$	(5)	$	1,532

(1)All of our investment securities are classified as available for sale instruments. Non-U.S. debt securities mature within one year.

Schedule of derivatives

The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives.


	September 30, 2021				December 31, 2020
	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Currency exchange contracts	$	—	$	—	$	5	$	—
Interest rate swap contracts	—		(12)		—		—

Derivatives not accounted for as hedges
Currency exchange contracts and other	19		(18)		113		(52)


Total derivatives	$	19	$	(30)	$	118	$	(52)

Schedule of gains (losses) from derivatives not designated as hedges

The following table summarizes the gains (losses) from derivatives not designated as hedges in the condensed consolidated statements of income (loss).


Derivatives not designated as hedging instruments	Condensed consolidated statement of income caption	Three Months Ended September 30,				Nine Months Ended September 30,
		2021		2020		2021		2020
Currency exchange contracts (1)	Cost of goods sold	$	(2)	$	20	$	7	$	37
Currency exchange contracts	Cost of services sold	8		17		—		63
Commodity derivatives	Cost of goods sold	—		3		5		2
Other derivatives	Other non-operating loss, net	—		—		—		8
Total (2)		$	6	$	40	$	12	$	110

(2)The effect on earnings of derivatives not designated as hedges is substantially offset by the change in fair value of the economically hedged items in the current and future periods.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summarized financial information

Summarized financial information is shown in the following tables. Consistent accounting policies have been applied by all segments within the Company, for all reporting periods.


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment revenue	2021		2020		2021		2020
Oilfield Services	$	2,419	$	2,308	$	6,976	$	7,858
Oilfield Equipment	603		726		1,867		2,133
Turbomachinery & Process Solutions	1,562		1,513		4,675		3,759
Digital Solutions	510		503		1,499		1,460
Total	$	5,093	$	5,049	$	15,017	$	15,210


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment income (loss) before income taxes	2021		2020		2021		2020
Oilfield Services	$	190	$	93	$	505	$	345
Oilfield Equipment	14		19		45		(4)
Turbomachinery & Process Solutions	278		191		705		473
Digital Solutions	26		46		75		117
Total segment	508		349		1,330		931
Corporate	(105)		(115)		(324)		(353)
Goodwill impairment	—		—		—		(14,717)
Inventory impairment (1)	—		(42)		—		(218)
Restructuring, impairment and other	(14)		(209)		(219)		(1,637)
Separation related	(11)		(32)		(53)		(110)
Other non-operating loss, net	(102)		(149)		(791)		(367)
Interest expense, net	(67)		(66)		(205)		(195)
Income (loss) before income taxes	$	209	$	(264)	$	(260)	$	(16,666)

(1)Charges for inventory impairments are predominantly reported in the "Cost of goods sold" caption of the condensed consolidated statements of income (loss).

The following table presents depreciation and amortization by segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
Segment depreciation and amortization	2021		2020		2021		2020
Oilfield Services	$	183	$	217	$	578	$	714
Oilfield Equipment	22		35		81		114
Turbomachinery & Process Solutions	30		33		90		87
Digital Solutions	22		24		66		73
Total segment	257		309		815		988
Corporate	5		6		17		22
Total	$	262	$	315	$	832	$	1,010

Restructuring, Impairment and Other (Tables)

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Impairment and restructuring charges

The following table presents restructuring and impairment charges by the impacted segment, however, these charges are not included in the reported segment results:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Oilfield Services	$	14	$	144	$	119	$	453
Oilfield Equipment	3		21		4		121
Turbomachinery & Process Solutions	(3)		7		11		27
Digital Solutions	—		18		3		52
Corporate	—		1		7		15
Total	$	14	$	191	$	144	$	668


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Property, plant & equipment, net	$	(1)	$	65	$	21	$	214
Employee-related termination expenses	1		108		94		406

Contract termination fees	3		1		4		23
Other incremental costs	11		17		25		25
Total	$	14	$	191	$	144	$	668

Assets and Liabilities of Business Held for Sale (Tables)

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of assets and liabilities of business held for sale

The following table presents financial information related to the assets and liabilities of the SDS business being contributed to the JV Company that are classified as held for sale and reported in "All other current assets" and "All other current liabilities" in our condensed consolidated statement of financial position as of September 30, 2021.


Assets and liabilities of business held for sale	September 30, 2021
Assets

Current assets (1)	$	122

Property, plant and equipment	108
Intangible assets	122
All other assets	56
Total assets	408
Liabilities
Current liabilities	48


All other liabilities	6
Total liabilities	54
Total carrying amount of net assets contributed	$	354

(1)On the closing date, we contributed cash in lieu of customer receivables, which was incremental to the assets held for sale detailed in the table above

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Restricted cash and cash equivalents held in bank accounts	$ 691	$ 687
BHH LLC
Business Acquisition [Line Items]
Approximate interest	82.80%
BHH LLC \| GE \| GE
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	17.20%	30.10%

Revenue Related to Contracts with Customers - Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 5,093	$ 5,049	$ 15,017	$ 15,210
U.S.
Disaggregation of Revenue [Line Items]
Revenues	1,199	1,032	3,337	3,330
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenues	$ 3,894	$ 4,017	$ 11,680	$ 11,880

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue Related to Contracts with Customers - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 23.5	$ 23.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Period one
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	50.00%
Performance obligations expected to be satisfied, expected timing	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Period two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	67.00%
Performance obligations expected to be satisfied, expected timing	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Period three
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	89.00%
Performance obligations expected to be satisfied, expected timing	15 years

Current Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	$ 5,790	$ 6,073
Less: Allowance for credit losses	(387)	(373)
Total current receivables, net	5,403	5,700
Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	4,569	4,676
Related parties \| GE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	439	507
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	$ 782	$ 890

Inventories (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Inventory, Net [Abstract]
Inventory valuation reserves		$ 390		$ 421
Finished goods		2,255		2,337
Work in process and raw materials		1,855		2,084
Total inventories, net		4,110		$ 4,421
Inventory impairment	$ 42	$ 0	$ 218

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Balance at December 31, 2019, gross						$ 24,150
Accumulated impairment at December 31, 2019						(3,754)
Goodwill [Roll Forward]
Goodwill, net, beginning balance			$ 5,739	$ 20,396	$ 20,396
Impairment	$ 0	$ 0	0	(14,717)	(14,717)
Currency exchange and others			38		60
Goodwill, net, ending balance	5,777		5,777		5,739
Oilfield Services
Goodwill [Line Items]
Balance at December 31, 2019, gross						15,382
Accumulated impairment at December 31, 2019						(2,633)
Goodwill [Roll Forward]
Goodwill, net, beginning balance			1,301	12,749	12,749
Impairment					(11,428)
Currency exchange and others			0		(20)
Goodwill, net, ending balance	1,301		1,301		1,301
Oilfield Equipment
Goodwill [Line Items]
Balance at December 31, 2019, gross						4,186
Accumulated impairment at December 31, 2019						(867)
Goodwill [Roll Forward]
Goodwill, net, beginning balance			6	3,319	3,319
Impairment					(3,289)
Currency exchange and others			(3)		(24)
Goodwill, net, ending balance	3		3		6
Turbo- machinery & Process Solutions
Goodwill [Line Items]
Balance at December 31, 2019, gross						2,171
Accumulated impairment at December 31, 2019						0
Goodwill [Roll Forward]
Goodwill, net, beginning balance			2,234	2,171	2,171
Impairment					0
Currency exchange and others			(20)		63
Goodwill, net, ending balance	2,214		2,214		2,234
Digital Solutions
Goodwill [Line Items]
Balance at December 31, 2019, gross						2,411
Accumulated impairment at December 31, 2019						$ (254)
Goodwill [Roll Forward]
Goodwill, net, beginning balance			2,198	$ 2,157	2,157
Impairment					0
Currency exchange and others			61		41
Goodwill, net, ending balance	$ 2,259		$ 2,259		$ 2,198

Goodwill and Other Intangible Assets - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2021 USD ($) segment	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Mar. 23, 2020 $ / shares
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments \| segment				4
Number of reportable units \| segment				4
Share price (in dollars per share) \| $ / shares							$ 9.33
Finite-Lived Intangible Assets [Line Items]
Impairment	$ 0	$ 0		$ 0	$ 14,717	$ 14,717
Amortization expense for intangible assets included in net income	$ 59	$ 75		$ 193	$ 231
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives				1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives				35 years
OFS
Finite-Lived Intangible Assets [Line Items]
Impairment			$ 11,428
OFE
Finite-Lived Intangible Assets [Line Items]
Impairment			$ 3,289

Goodwill and Other Intangible Assets - Schedule of Intangible Assets by Type (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Finite-lived intangible assets
Gross Carrying Amount	$ 4,648	$ 5,008
Accumulated Amortization	(2,720)	(2,834)
Net	1,928	2,174
Indefinite-lived intangible assets	2,223	2,223
Total intangible assets, Gross Carrying Amount	6,871	7,231
Total intangible assets, Net	4,151	4,397
Customer relationships
Finite-lived intangible assets
Gross Carrying Amount	1,944	2,261
Accumulated Amortization	(749)	(916)
Net	1,195	1,345
Technology
Finite-lived intangible assets
Gross Carrying Amount	1,105	1,127
Accumulated Amortization	(741)	(696)
Net	364	431
Trade names and trademarks
Finite-lived intangible assets
Gross Carrying Amount	293	326
Accumulated Amortization	(168)	(181)
Net	125	145
Capitalized software
Finite-lived intangible assets
Gross Carrying Amount	1,306	1,294
Accumulated Amortization	(1,062)	(1,041)
Net	$ 244	$ 253

Goodwill and Other Intangible Assets - Schedule of Future Estimated Amortization Expense (Details) $ in Millions	Sep. 30, 2021 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	$ 58
2022	213
2023	200
2024	182
2025	135
2026	$ 92

Contract and Other Deferred Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	$ 1,553		$ 1,553		$ 1,820
Deferred inventory costs	153		153		138
Non-recurring engineering costs	32		32		43
Contract and other deferred assets	1,738		1,738		2,001
Revenue recognized from performance obligations satisfied in previous periods	9	$ (8)	18	$ 22
Long-term product service agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	644		644		660
Long-term equipment contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	$ 909		$ 909		$ 1,160

Progress Collections and Deferred Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 3,263		$ 3,263		$ 3,454
Revenue recognized, included in contract liability	448	$ 501	2,033	$ 1,328
Progress collections
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	3,140		3,140		3,352
Deferred income
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 123		$ 123		$ 102

Leases - Operating Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Lease Expense
Long-term fixed lease	$ 64	$ 71	$ 192	$ 213
Long-term variable lease	7	3	24	23
Short-term lease	119	102	328	382
Total operating lease expense	$ 190	$ 176	$ 544	$ 618

Leases - Narrative (Details)	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease, weighted-average remaining lease term	9 years	8 years
Operating lease, weighted-average discount rate	3.50%	3.70%

Borrowings - Short-term and Long-term Borrowings (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Short-term borrowings
Total short-term borrowings	$ 56	$ 889
Long-term borrowings
Other long-term borrowings	70	93
Total long-term borrowings	6,708	6,744
Total borrowings	$ 6,764	7,633
2.773% Senior Notes due December 2022
Debt Instrument [Line Items]
Stated interest rate	2.773%
8.55% Debentures due June 2024
Debt Instrument [Line Items]
Stated interest rate	8.55%
3.337% Senior Notes due December 2027
Debt Instrument [Line Items]
Stated interest rate	3.337%
6.875% Notes due January 2029
Debt Instrument [Line Items]
Stated interest rate	6.875%
Long-term borrowings
Long-term borrowings	$ 280	284
3.138% Senior Notes due November 2029
Debt Instrument [Line Items]
Stated interest rate	3.138%
4.486% Senior Notes due May 2030
Debt Instrument [Line Items]
Stated interest rate	4.486%
5.125% Senior Notes due September 2040
Debt Instrument [Line Items]
Stated interest rate	5.125%
4.08% Senior Notes due December 2047
Debt Instrument [Line Items]
Stated interest rate	4.08%
Senior Notes \| 2.773% Senior Notes due December 2022
Long-term borrowings
Long-term borrowings	$ 1,249	1,247
Senior Notes \| 3.337% Senior Notes due December 2027
Long-term borrowings
Long-term borrowings	1,341	1,344
Senior Notes \| 3.138% Senior Notes due November 2029
Long-term borrowings
Long-term borrowings	522	522
Senior Notes \| 4.486% Senior Notes due May 2030
Long-term borrowings
Long-term borrowings	497	497
Senior Notes \| 5.125% Senior Notes due September 2040
Long-term borrowings
Long-term borrowings	1,293	1,297
Senior Notes \| 4.08% Senior Notes due December 2047
Long-term borrowings
Long-term borrowings	1,337	1,337
Debentures \| 8.55% Debentures due June 2024
Long-term borrowings
Long-term borrowings	119	123
Commercial paper
Short-term borrowings
Total short-term borrowings	0	801
Short-term borrowings from GE
Short-term borrowings
Total short-term borrowings	11	45
Other borrowings
Short-term borrowings
Total short-term borrowings	$ 45	$ 43

Borrowings - Narrative (Details) - USD ($)	9 Months Ended
Borrowings - Narrative (Details) - USD ($)	Sep. 30, 2021	Apr. 30, 2021	Apr. 29, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Estimated fair value of debt	$ 7,498,000,000			$ 8,502,000,000
Commercial paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 3,000,000,000	$ 3,800,000,000
Debt term (no more than)	397 days
BHH LLC \| Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Ownership percentage	100.00%
BHH LLC \| Baker Hughes Co-Obligor, Inc. \| Senior Notes
Line of Credit Facility [Line Items]
Long-term borrowings	$ 6,638,000,000
BHH LLC \| Revolving credit facility \| The Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	3,000,000,000
Line of credit outstanding	$ 0			$ 0

Employee Benefit Plans - Narrative (Details) - Pension Benefits	9 Months Ended
	Sep. 30, 2021 USD ($) plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension assets or obligations, threshold, per plan \| $	$ 20,000,000
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of plans	4
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of plans	7

Employee Benefit Plans - Net Period Cost (Details) - Pension Benefits - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Components of net periodic benefit cost [Abstract]
Service cost	$ 7	$ 7	$ 21	$ 21
Interest cost	15	19	47	59
Expected return on plan assets	(32)	(31)	(95)	(93)
Amortization of net actuarial loss	10	9	30	25
Curtailment/settlement & other loss	1	3	1	3
Net periodic cost	$ 1	$ 7	$ 4	$ 15

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (189)	$ (47)	$ (422)	$ (110)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Equity - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2021	Jul. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Repurchase and cancellation of common units	$ 106	$ 106
BHH LLC
Class of Stock [Line Items]
Authorized stock repurchase (in shares)			2,000,000,000
Remaining authorized repurchase amount	$ 1,900	$ 1,900
BHH LLC \| GE \| GE
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners	17.20%	17.20%		30.10%
Common Units Held by Baker Hughes
Class of Stock [Line Items]
Stock repurchased and canceled (in shares)	4,400,000
Repurchase and cancellation of common units	$ 106
Common Units Held by GE \| BHH LLC
Class of Stock [Line Items]
Exchange of Class B common stock for Class A common stock (in shares)		132,700,000

Equity - Changes in Number of Shares Outstanding (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Common Units Held by GE \| BHH LLC
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class B common stock for Class A common stock (in shares)	(132,700)
Common Stock \| Common Units Held by Baker Hughes
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	723,999	650,065
Exchange of Class B common stock for Class A common stock (in shares)	(132,706)	(27,988)
Repurchase and cancellation of Class A common stock (in shares)	(4,430)	0
Ending balance (in shares)	859,480	684,775
Common Stock \| Common Units Held by Baker Hughes \| Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	7,204	6,721
Common Stock \| Common Units Held by GE
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	311,433	377,428
Exchange of Class B common stock for Class A common stock (in shares)	(132,706)	(27,988)
Repurchase and cancellation of Class A common stock (in shares)	0	0
Ending balance (in shares)	178,726	349,440
Common Stock \| Common Units Held by GE \| Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	0	0

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 17,355	$ 17,493	$ 18,163	$ 34,414
Other comprehensive income (loss) before reclassifications			(41)	(164)
Amounts reclassified from accumulated other comprehensive income (loss)			56	33
Deferred taxes			(1)	(2)
Other comprehensive income (loss)	(135)	83	14	(133)
Less: Other comprehensive loss attributable to noncontrolling interests	(1)	0	(1)	(3)
Less: Other adjustments				0
Ending Balance	17,008	17,140	17,008	17,140
Investment Securities, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			0	2
Ending Balance	0	0	0	0
Investment Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			0	(2)
Amounts reclassified from accumulated other comprehensive income (loss)			0	0
Deferred taxes			0	0
Other comprehensive income (loss)			0	(2)
Investment Securities, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive loss attributable to noncontrolling interests			0	0
Less: Other adjustments				0
Foreign Currency Translation Adjustment, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			(2,096)	(2,274)
Ending Balance	(2,146)	(2,371)	(2,146)	(2,371)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			(82)	(101)
Amounts reclassified from accumulated other comprehensive income (loss)			31	0
Deferred taxes			0	0
Other comprehensive income (loss)			(51)	(101)
Foreign Currency Translation Adjustments, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive loss attributable to noncontrolling interests			(1)	(3)
Less: Other adjustments				(1)
Cash Flow Hedges, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			5	10
Ending Balance	(8)	4	(8)	4
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			(6)	(5)
Amounts reclassified from accumulated other comprehensive income (loss)			(7)	(2)
Deferred taxes			0	1
Other comprehensive income (loss)			(13)	(6)
Cash Flow Hedges, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive loss attributable to noncontrolling interests			0	0
Less: Other adjustments				0
Benefit Plans, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			(451)	(327)
Ending Balance	(373)	(352)	(373)	(352)
Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			47	(56)
Amounts reclassified from accumulated other comprehensive income (loss)			32	35
Deferred taxes			(1)	(3)
Other comprehensive income (loss)			78	(24)
Benefit Plans, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive loss attributable to noncontrolling interests			0	0
Less: Other adjustments				1
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(2,393)	(2,802)	(2,542)	(2,589)
Other comprehensive income (loss)	(134)	83	15	(130)
Ending Balance	$ (2,527)	$ (2,719)	$ (2,527)	$ (2,719)

Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets
Investment securities	$ 411	$ 1,532
Total assets	19	118
Liabilities
Total liabilities	(30)	(52)
Recurring basis
Assets
Derivatives	19	118
Investment securities	411	1,532
Total assets	430	1,650
Liabilities
Derivatives	(30)	(52)
Total liabilities	(30)	(52)
Recurring basis \| Level 1
Assets
Derivatives	0	0
Investment securities	403	1,502
Total assets	403	1,502
Liabilities
Derivatives	0	0
Total liabilities	0	0
Recurring basis \| Level 2
Assets
Derivatives	19	118
Investment securities	0	0
Total assets	19	118
Liabilities
Derivatives	(30)	(52)
Total liabilities	(30)	(52)
Recurring basis \| Level 3
Assets
Derivatives	0	0
Investment securities	9	30
Total assets	9	30
Liabilities
Derivatives	0	0
Total liabilities	$ 0	$ 0

Financial Instruments - Reconciliation of Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 30	$ 259
Purchases	0	10
Proceeds at maturity	(21)	(168)
Unrealized gains (losses) recognized in accumulated other comprehensive income (loss)	0	(3)
Ending balance	$ 9	$ 98

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities	$ 411,000,000	$ 411,000,000	$ 1,532,000,000
Notional amount	5,300,000,000	5,300,000,000	7,000,000,000
Equity securities without readily determinable fair values	572,000,000	572,000,000	554,000,000
ADNOC Drilling
Derivative Instruments, Gain (Loss) [Line Items]
Equity securities without readily determinable fair values	$ 500,000,000	$ 500,000,000	$ 500,000,000
Investment percent		5.00%	5.00%
3.337% Senior Notes due December 2027
Derivative Instruments, Gain (Loss) [Line Items]
Stated interest rate	3.337%	3.337%
3.337% Senior Notes due December 2027 \| Senior Notes
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate principal amount	$ 1,350,000,000	$ 1,350,000,000
Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	500,000,000	$ 500,000,000
Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term		1 year	1 year
All other current assets
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities	403,000,000	$ 403,000,000	$ 1,514,000,000
Derivative assets	18,000,000	18,000,000	115,000,000
All other assets
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities	9,000,000	9,000,000	18,000,000
Derivative assets	1,000,000	1,000,000	3,000,000
All other current liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	27,000,000	27,000,000	48,000,000
All other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	$ 4,000,000	$ 4,000,000	$ 4,000,000
C3.ai
Derivative Instruments, Gain (Loss) [Line Items]
Investments owned, number of shares sold (in shares)	0	2,200,000
Proceeds from sale of long-term investments		$ 145,000,000
Loss on equity securities	$ 140,000,000	$ 955,000,000
C3.ai \| Common Units Held by Baker Hughes
Derivative Instruments, Gain (Loss) [Line Items]
Investment shares owned (in shares)	8,650,476	8,650,476	10,813,095
Equity securities economic interest fair value	$ 401,000,000	$ 401,000,000	$ 1,500,000,000
Level 3
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on Level 3 instruments held at reporting date		$ 0

Financial Instruments - Investment Securities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Equity securities, amortized cost	$ 61,000,000		$ 61,000,000		$ 76,000,000
Equity securities, gross unrealized gains	345,000,000		345,000,000		1,431,000,000
Equity securities, gross unrealized losses	(3,000,000)		(3,000,000)		(5,000,000)
Equity securities, estimated fair value	403,000,000		403,000,000		1,502,000,000
Total, amortized cost	70,000,000		70,000,000		106,000,000
Total, gross unrealized gains	345,000,000		345,000,000		1,431,000,000
Total, gross unrealized losses	(3,000,000)		(3,000,000)		(5,000,000)
Investment securities	411,000,000		411,000,000		1,532,000,000
Loss on equity securities	(141,000,000)	$ 0	(954,000,000)	$ (12,000,000)
Non-U.S. debt securities
Debt Securities, Available-for-sale [Line Items]
Investment securities, amortized cost	9,000,000		9,000,000		30,000,000
Investment securities, gross unrealized gains	0		0		0
Investment securities, gross unrealized losses	0		0		0
Investment securities	$ 9,000,000		$ 9,000,000		$ 30,000,000
Derivative, term			1 year

Financial Instruments - Derivatives and Hedging (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Assets	$ 19	$ 118
Liabilities	(30)	(52)
Derivatives accounted for as hedges \| Currency exchange contracts
Derivatives, Fair Value [Line Items]
Assets	0	5
Liabilities	0	0
Derivatives accounted for as hedges \| Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	(12)	0
Derivatives not accounted for as hedges \| Currency exchange contracts
Derivatives, Fair Value [Line Items]
Assets	19	113
Liabilities	$ (18)	$ (52)

Financial Instruments - Economic Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net gain (loss) on embedded derivatives	$ 2	$ 14	$ 5	$ 9
Not designated as hedging instrument, economic hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	6	40	12	110
Not designated as hedging instrument, economic hedge \| Currency exchange contracts \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	(2)	20	7	37
Not designated as hedging instrument, economic hedge \| Currency exchange contracts \| Cost of services sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	8	17	0	63
Not designated as hedging instrument, economic hedge \| Commodity derivatives \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	0	3	5	2
Not designated as hedging instrument, economic hedge \| Other derivatives \| Other non-operating loss, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	$ 0	$ 0	$ 0	$ 8

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Sep. 30, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Information - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Segment revenue	$ 5,093	$ 5,049	$ 15,017	$ 15,210
Summarized financial information [Abstract]
Income (loss) before income taxes	209	(264)	(260)	(16,666)
Goodwill impairment	0	0	0	(14,717)	$ (14,717)
Inventory impairments		(42)	0	(218)
Other non-operating loss, net	(102)	(149)	(791)	(367)
Interest expense, net	(67)	(66)	(205)	(195)
Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	508	349	1,330	931
Corporate
Summarized financial information [Abstract]
Income (loss) before income taxes	(105)	(115)	(324)	(353)
Segment reconciling items
Summarized financial information [Abstract]
Goodwill impairment	0	0	0	(14,717)
Inventory impairments	0	(42)	0	(218)
Restructuring, impairment and other	(14)	(209)	(219)	(1,637)
Separation related	(11)	(32)	(53)	(110)
Other non-operating loss, net	(102)	(149)	(791)	(367)
Interest expense, net	(67)	(66)	(205)	(195)
Oilfield Services
Segment Reporting Information [Line Items]
Segment revenue	2,419	2,308	6,976	7,858
Summarized financial information [Abstract]
Goodwill impairment					(11,428)
Oilfield Services \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	190	93	505	345
Oilfield Equipment
Segment Reporting Information [Line Items]
Segment revenue	603	726	1,867	2,133
Summarized financial information [Abstract]
Goodwill impairment					(3,289)
Oilfield Equipment \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	14	19	45	(4)
Turbomachinery & Process Solutions
Segment Reporting Information [Line Items]
Segment revenue	1,562	1,513	4,675	3,759
Summarized financial information [Abstract]
Goodwill impairment					0
Turbomachinery & Process Solutions \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	278	191	705	473
Digital Solutions
Segment Reporting Information [Line Items]
Segment revenue	510	503	1,499	1,460
Summarized financial information [Abstract]
Goodwill impairment					$ 0
Digital Solutions \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	$ 26	$ 46	$ 75	$ 117

Segment Information - Capital Expenditures and Depreciation and Amortization by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 262	$ 315	$ 832	$ 1,010
Operating segments
Segment Reporting Information [Line Items]
Depreciation and amortization	257	309	815	988
Operating segments \| Oilfield Services
Segment Reporting Information [Line Items]
Depreciation and amortization	183	217	578	714
Operating segments \| Oilfield Equipment
Segment Reporting Information [Line Items]
Depreciation and amortization	22	35	81	114
Operating segments \| Turbo- machinery & Process Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	30	33	90	87
Operating segments \| Digital Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	22	24	66	73
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 5	$ 6	$ 17	$ 22

Related Party Transactions (Details) $ in Millions	3 Months Ended		9 Months Ended
Related Party Transactions (Details) $ in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) people	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Total current receivables, gross	$ 5,790		$ 5,790		$ 6,073
Investment securities held on behalf of GE	411		411		1,532
C3.ai \| Related Party Transactions with C3.ai
Related Party Transaction [Line Items]
Purchase commitment, to be paid, year one	75		75
Purchase commitment, to be paid, year two	125		125
Purchase commitment, to be paid, year three	150		150
Subscription fee			$ 28
GE
Related Party Transaction [Line Items]
Voting power threshold			20.00%
Board of directors nomination, upon triggering event \| people			1
GE \| Related parties
Related Party Transaction [Line Items]
Total current receivables, gross	439		$ 439		507
GE \| Purchases, GE and its affiliates
Related Party Transaction [Line Items]
Total current receivables, gross	77		77		78
GE \| Accounts Payable, GE and its affiliates
Related Party Transaction [Line Items]
Accounts payable, related party	300		300		356
GE \| Related party amount, due to related party
Related Party Transaction [Line Items]
Cash and cash equivalents held on behalf of GE	$ 11		$ 11		45
Cash held on behalf of GE					44
Investment securities held on behalf of GE					$ 1
GE \| GE \| BHH LLC
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	17.20%		17.20%		30.10%
GE \| GE \| Baker Hughes
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	20.60%		20.60%
Areo JV \| Purchases, GE and its affiliates
Related Party Transaction [Line Items]
Related party purchases	$ 366	$ 384	$ 988	$ 993
Areo JV \| Sales of products and services, GE and its affiliates
Related Party Transaction [Line Items]
Revenue from related parties	48	$ 46	136	$ 150
GE \| Related parties
Related Party Transaction [Line Items]
Total current receivables, gross	$ 362		$ 362		$ 429

Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions					1 Months Ended	9 Months Ended
	May 29, 2020 USD ($)	Mar. 03, 2020 USD ($)	Mar. 15, 2019 USD ($)	Mar. 18, 2018 USD ($)	Jan. 31, 2013	Sep. 30, 2021 EUR (€) subsidiary company	Sep. 30, 2021 USD ($)	Mar. 18, 2019 USD ($)
Loss Contingencies [Line Items]
Off-balance sheet arrangements							$ 4,500.0
Pending litigation \| INOES and Naphtachimie \| Damage from fire
Loss Contingencies [Line Items]
Plant shutdown days					15 days
Value of alleged damages sought \| €						€ 250
Subsidiaries participating \| subsidiary						2
Other companies participating \| company						17
Pending litigation \| International Engineering & Construction S.A. (IEC) \| Lost profits and various costs
Loss Contingencies [Line Items]
Value of alleged damages sought	$ 235.0	$ 244.9	$ 591.0
Pending litigation \| International Engineering & Construction S.A. (IEC) \| Loss of cash flow
Loss Contingencies [Line Items]
Value of alleged damages sought		700.0
Pending litigation \| International Engineering & Construction S.A. (IEC) \| Liquidated damages
Loss Contingencies [Line Items]
Value of alleged damages sought		4.8
Pending litigation \| International Engineering & Construction S.A. (IEC) \| Take-or-pay future obligations
Loss Contingencies [Line Items]
Value of alleged damages sought		$ 58.6
Pending litigation \| International Engineering & Construction S.A. (IEC) \| Legal fees
Loss Contingencies [Line Items]
Value of alleged damages sought	$ 14.2
Pending litigation \| 2018 Transactions \| Breach of fiduciary duties
Loss Contingencies [Line Items]
Repurchase of stock from GE								$ 1,500.0
GE sale of stock				$ 2,500.0

Restructuring, Impairment and Other - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other	$ 14	$ 209	$ 219	$ 1,637
Intangible assets impairment			0	729
Property, plant and equipment impairment, net			21	290
Litigation and impairment of equity method investment				73
OFS
Restructuring Cost and Reserve [Line Items]
Intangible assets impairment				605
OFE
Restructuring Cost and Reserve [Line Items]
Intangible assets impairment				124
Other long-lived asset impairments				216
Property, plant and equipment impairment, net				77
Other assets				15
Restructuring Impairmentand Other Charges
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges and foreign currency translation gain (loss), realized	$ 0	$ 18	$ 75	$ 969

Restructuring, Impairment and Other - Schedule of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 14	$ 191	$ 144	$ 668
Property, plant & equipment, net
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(1)	65	21	214
Employee-related termination expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1	108	94	406
Contract termination fees
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	3	1	4	23
Other incremental costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	11	17	25	25
Operating segments \| Oilfield Services
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	14	144	119	453
Operating segments \| Oilfield Equipment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	3	21	4	121
Operating segments \| Turbo- machinery & Process Solutions
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(3)	7	11	27
Operating segments \| Digital Solutions
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0	18	3	52
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	$ 1	$ 7	$ 15

Assets and Liabilities of Business Held for Sale - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2021	Mar. 31, 2021
SDS \| Held for sale \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration	$ 200
Cash consideration paid	120
Balance of consideration	$ 80
JV Company
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Joint venture ownership percentage		50.00%
JV Company \| SDS \| Held for sale \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
JV ownership received as consideration	50.00%
JV Company \| Akastor ASA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Joint venture ownership percentage		50.00%

Assets and Liabilities of Business Held for Sale - Schedule of Assets and Liabilities of Business Held for Sale (Details) - Held for sale - SDS $ in Millions	Sep. 30, 2021 USD ($)
Assets
Current assets	$ 122
Property, plant and equipment	108
Intangible assets	122
All other assets	56
Total assets	408
Liabilities
Current liabilities	48
All other liabilities	6
Total liabilities	54
Total carrying amount of net assets contributed	$ 354