0000808362-22-000016 | 10-Q | XBRL Viewer | Baker Hughes Holdings LLC

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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2022	Apr. 14, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	5.125% Senior Notes due 2040
Trading Symbol	-
Security Exchange Name	NASDAQ
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 Central Index Key	0000808362
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		1,025,166,953

Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Revenues	$ 4,835	$ 4,782
Costs and expenses:
Selling, general and administrative	621	587
Restructuring, impairment and other charges	61	80
Separation related	9	27
Total costs and expenses	4,556	4,618
Operating income	279	164
Other non-operating loss, net	(28)	(626)
Interest expense, net	(64)	(74)
Income (loss) before income taxes	187	(536)
Provision for income taxes	(95)	(83)
Net income (loss)	92	(619)
Less: Net income attributable to noncontrolling interests	5	9
Net income (loss) attributable to Baker Hughes Holdings LLC	$ 87	$ (628)
Units Held by Baker Hughes
Per share amounts:
Cash dividend per Class A common stock (in dollars per share)	$ 0.18	$ 0.18
Sales of goods
Revenue:
Revenues	$ 2,809	$ 2,936
Costs and expenses:
Costs	2,366	2,534
Sales of services
Revenue:
Revenues	2,026	1,846
Costs and expenses:
Costs	$ 1,499	$ 1,390

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 92	$ (619)
Less: Net income attributable to noncontrolling interests	5	9
Net income (loss) attributable to Baker Hughes Holdings LLC	87	(628)
Other comprehensive income (loss):
Foreign currency translation adjustments	17	(51)
Cash flow hedges	1	6
Benefit plans	8	3
Other comprehensive income (loss)	26	(42)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(1)	0
Other comprehensive income (loss) attributable to Baker Hughes Holdings LLC	27	(42)
Comprehensive income (loss)	118	(661)
Less: Comprehensive income attributable to noncontrolling interests	4	9
Comprehensive income (loss) attributable to Baker Hughes Holdings LLC	$ 114	$ (670)

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,187	$ 3,843
Current receivables, net	5,877	5,718
Inventories, net	4,151	3,979
All other current assets	1,627	1,582
Total current assets	14,842	15,122
Property, plant and equipment (net of accumulated depreciation of $5,116 and $5,003)	4,804	4,877
Goodwill	5,751	5,721
Other intangible assets, net	4,118	4,131
Contract and other deferred assets	1,671	1,598
All other assets	3,104	3,102
Deferred income taxes	761	735
Total assets	35,051	35,286
Current liabilities:
Accounts payable	3,755	3,745
Current portion of long-term debt	35	40
Progress collections and deferred income	3,481	3,232
All other current liabilities	1,927	2,163
Total current liabilities	9,198	9,180
Long-term debt	6,650	6,687
Deferred income taxes	127	73
Liabilities for pensions and other postretirement benefits	1,063	1,110
All other liabilities	$ 1,500	$ 1,510
Common Unit, Issued	1,025	1,026
Common Unit, Outstanding	1,025	1,026
Members' Equity:
Retained loss	$ (16,224)	$ (16,311)
Accumulated other comprehensive loss	(2,664)	(2,691)
Baker Hughes Holdings LLC equity	16,377	16,587
Noncontrolling interests	136	139
Total equity	16,513	16,726
Total liabilities and equity	35,051	35,286
Units Held by Baker Hughes
Members' Equity:
Common stock	$ 35,265	$ 35,589

Condensed Consolidated Statements of Financial Position (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property, plant and equipment, accumulated depreciation	$ 5,116	$ 5,003
Units Held by Baker Hughes
Common stock outstanding (in shares)	984,688	909,142
Units Held by GE
Common stock outstanding (in shares)	40,591	116,548

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Members' Capital	Retained Loss	Accumulated Other Comprehensive Loss	Non- controlling Interests
Beginning Balance at Dec. 31, 2020	$ 18,163	$ 36,512	$ (15,939)	$ (2,542)	$ 132
Comprehensive income:
Net income (loss)	(619)		(628)		9
Other comprehensive income (loss)	(42)			(42)
Dividends on Class A common stock	(187)	(187)
Baker Hughes stock-based compensation cost	50	50
Other	15	17		1	(1)
Ending Balance at Mar. 31, 2021	17,380	36,392	(16,567)	(2,585)	140
Beginning Balance at Dec. 31, 2021	16,726	35,589	(16,311)	(2,691)	139
Comprehensive income:
Net income (loss)	92		87		5
Other comprehensive income (loss)	26			27	(1)
Dividends on Class A common stock	(185)	(185)
Repurchase and cancellation of common units	(236)	(236)
Baker Hughes stock-based compensation cost	52	52
Other	38	45			(7)
Ending Balance at Mar. 31, 2022	$ 16,513	$ 35,265	$ (16,224)	$ (2,664)	$ 136

- 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
	Mar. 31, 2022	Mar. 31, 2021
Units Held by Baker Hughes
Cash dividends per share (in dollars per share)	$ 0.18	$ 0.18

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 92	$ (619)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	277	292
(Gain) loss on equity securities	(11)	788
Changes in operating assets and liabilities:
Current receivables	(264)	312
Inventories	(205)	88
Accounts payable	74	(11)
Progress collections and deferred income	280	(19)
Contract and other deferred assets	(38)	6
Other operating items, net	(127)	(175)
Net cash flows from operating activities	78	662
Cash flows from investing activities:
Expenditures for capital assets	(268)	(221)
Proceeds from disposal of assets	91	41
Other investing items, net	(89)	6
Net cash flows used in investing activities	(266)	(174)
Cash flows from financing activities:
Net repayments of debt and other borrowings	(11)	(36)
Distributions to Members	(185)	(187)
Repurchase of common units	(236)	0
Other financing items, net	(37)	(32)
Net cash flows used in financing activities	(469)	(255)
Effect of currency exchange rate changes on cash and cash equivalents	1	1
Increase (decrease) in cash and cash equivalents	(656)	234
Cash and cash equivalents, beginning of period	3,843	4,125
Cash and cash equivalents, end of period	3,187	4,359
Supplemental cash flows disclosures:
Income taxes paid, net of refunds	130	39
Interest paid	$ 48	$ 51

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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 energy and industrial value chain. As of March 31, 2022, General Electric ("GE") owns 4% of our common units and Baker Hughes Company ("Baker Hughes") owns directly or indirectly 96% of our common units (collectively, "the Members"). BHH LLC is a Securities and Exchange Commission ("SEC") Registrant with separate filing requirements with the SEC and its separate financial information can be obtained from www.sec.gov. 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 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, 2021 ("2021 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. The condensed consolidated financial statements include the accounts of BHH LLC and all of its subsidiaries and affiliates which it controls or variable interest entities for which we have determined that we are the primary beneficiary. All intercompany accounts and transactions have been eliminated. In the Company's financial statements and notes, certain prior year amounts have been reclassified to conform to the current year presentation. In the notes to the 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. 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 2021 Annual Report for the discussion of our significant accounting policies. Cash and Cash Equivalents As of March 31, 2022 and December 31, 2021, we had $619 million and $601 million, respectively, of cash held in bank accounts that cannot be readily 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 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

3 Months Ended

Mar. 31, 2022

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 March 31,
Total Revenue	2022		2021
U.S.	$	1,104	$	1,052
Non-U.S.	3,731		3,730
Total	$	4,835	$	4,782

REMAINING PERFORMANCE OBLIGATIONS

As of March 31, 2022 and 2021, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $25.8 billion and $23.2 billion, respectively. As of March 31, 2022, we expect to recognize revenue of approximately 53%, 68% and 87% 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:


	March 31, 2022		December 31, 2021
Progress collections	$	3,349	$	3,108
Deferred income	132		124
Progress collections and deferred income (contract liabilities)	$	3,481	$	3,232

Revenue recognized during the three months ended March 31, 2022 and 2021 that was included in the contract liabilities at the beginning of the period was $739 million and $878 million, 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

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Current Receivables

CURRENT RECEIVABLES

Current receivables are comprised of the following:


	March 31, 2022		December 31, 2021
Customer receivables	$	4,849	$	4,724
Related parties	603		548
Other	769		846
Total current receivables	6,221		6,118
Less: Allowance for credit losses	(344)		(400)
Total current receivables, net	$	5,877	$	5,718

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

Inventories

3 Months Ended

Mar. 31, 2022

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories, net of reserves of $384 million and $374 million as of March 31, 2022 and December 31, 2021, respectively, are comprised of the following:


	March 31, 2022		December 31, 2021
Finished goods	$	2,174	$	2,228
Work in process and raw materials	1,977		1,751

Total inventories, net	$	4,151	$	3,979

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

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, 2020, gross	$	15,362	$	4,162	$	2,234	$	2,452	$	24,210
Accumulated impairment at December 31, 2020	(14,061)		(4,156)		—		(254)		(18,471)
Balance at December 31, 2020	1,301		6		2,234		2,198		5,739

Currency exchange and others	10		(3)		(62)		37		(18)
Balance at December 31, 2021	1,311		3		2,172		2,235		5,721

Currency exchange and others	—		—		(15)		45		30
Balance at March 31, 2022	$	1,311	$	3	$	2,157	$	2,280	$	5,751

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 its book value, and the magnitude and duration of those declines, if any.

During the first quarter of 2022, we completed a review to assess whether indicators of impairment existed. As a result of this assessment, we concluded that no indicators existed that would lead to a determination that it is more likely than not that the fair value of each reporting unit is less than its carrying value. 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.

OTHER INTANGIBLE ASSETS

Intangible assets are comprised of the following:


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,921	$	(767)	$	1,154	$	1,922	$	(752)	$	1,170
Technology	1,084		(761)		323		1,090		(747)		343
Trade names and trademarks	292		(172)		120		292		(169)		123
Capitalized software	1,321		(1,065)		256		1,311		(1,057)		254


Finite-lived intangible assets	4,618		(2,765)		1,853		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,265		—		2,265		2,241		—		2,241
Total intangible assets	$	6,883	$	(2,765)	$	4,118	$	6,856	$	(2,725)	$	4,131

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 March 31, 2022 and 2021 was $55 million and $69 million, respectively.

Estimated amortization expense for the remainder of 2022 and each of the subsequent five fiscal years is expected to be as follows:


Year	Estimated Amortization Expense
Remainder of 2022	$	161
2023	203
2024	188
2025	146
2026	100
2027	81

Contract and Other Deferred Assets

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Contract and Other Deferred Assets

CONTRACT AND OTHER DEFERRED ASSETS

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:


	March 31, 2022		December 31, 2021
Long-term product service agreements	$	550	$	589
Long-term equipment contracts (1)	922		825
Contract assets (total revenue in excess of billings)	1,472		1,414
Deferred inventory costs	173		156
Non-recurring engineering costs	26		28

Contract and other deferred assets	$	1,671	$	1,598

(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 March 31, 2022 and 2021 from performance obligations satisfied (or partially satisfied) in previous periods related to our long-term service agreements was $(4) million and nil, 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

3 Months Ended

Mar. 31, 2022

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 March 31,
Total Revenue	2022		2021
U.S.	$	1,104	$	1,052
Non-U.S.	3,731		3,730
Total	$	4,835	$	4,782

REMAINING PERFORMANCE OBLIGATIONS

PROGRESS COLLECTIONS AND DEFERRED INCOME


	March 31, 2022		December 31, 2021
Progress collections	$	3,349	$	3,108
Deferred income	132		124
Progress collections and deferred income (contract liabilities)	$	3,481	$	3,232

Revenue recognized during the three months ended March 31, 2022 and 2021 that was included in the contract liabilities at the beginning of the period was $739 million and $878 million, respectively.

- Definition

+ References

+ Details

Leases

3 Months Ended

Mar. 31, 2022

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 March 31,
Operating Lease Expense	2022		2021
Long-term fixed lease	$	63	$	62
Long-term variable lease	9		9
Short-term lease	109		99
Total operating lease expense	$	181	$	170

Cash flows used in operating activities for operating leases approximates our expense for the three months ended March 31, 2022 and 2021.

The weighted-average remaining lease term as of March 31, 2022 and December 31, 2021 was approximately nine years for our operating leases. The weighted-average discount rate used to determine the operating lease liability as of March 31, 2022 and December 31, 2021 was 3.3%.

Borrowings

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

The Company's borrowings are comprised of the following:


	March 31, 2022		December 31, 2021
Current borrowings




Other borrowings	$	35	$	40



Long-term borrowings
1.231% Senior Notes due December 2023	648		647
8.55% Debentures due June 2024	117		118
2.061% Senior Notes due December 2026	597		597
3.337% Senior Notes due December 2027	1,308		1,335
6.875% Notes due January 2029	277		279
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	1,290		1,292
4.080% Senior Notes due December 2047	1,337		1,337
Other long-term borrowings	57		63
Total long-term borrowings	6,650		6,687
Total borrowings	$	6,685	$	6,727

The estimated fair value of total borrowings at March 31, 2022 and December 31, 2021 was $6,732 million and $7,328 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. In addition, we have a commercial paper program with authorization up to $3 billion under which we may issue from time to time commercial paper with maturities of no

more than 397 days. At March 31, 2022 and December 31, 2021, there were no borrowings under either the Credit Agreement or the commercial paper program.

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 March 31, 2022, Baker Hughes Co-Obligor, Inc. is a co-obligor of our long-term debt securities totaling $6,594 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 March 31, 2022, we were in compliance with all debt covenants.

- 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

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended March 31, 2022, the provision for income taxes was $95 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 and earnings in jurisdictions with tax rates higher than the U.S., partially offset by tax benefits related to uncertain tax positions. In addition, since we are a partnership for U.S. federal tax purposes, any tax benefits associated with U.S. losses are recognized by our Members and not reflected in our tax expense. For the three months ended March 31, 2021, the provision for income taxes was $83 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.

- 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

3 Months Ended

Mar. 31, 2022

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 three months ended March 31, 2022 and 2021, we issued 7,730 thousand and 5,522 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.

In 2021, Baker Hughes' 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 March 31, 2022, we repurchased and canceled 8.1 million Units for a total of $236 million, representing an average price per Unit of $28.96. This includes 0.4 million Units totaling $11 million that were repurchased in December 2021 but not settled and cancelled until January 2022. At March 31, 2022, we had authorization remaining to repurchase up to approximately $1.3 billion of our Units.

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


	Units Held by Baker Hughes		Units Held by GE
	2022	2021	2022	2021
Balance at January 1	909,142	723,999	116,548	311,433
Issue of Units to Baker Hughes under equity incentive plan	7,730	5,522	—	—


Exchange of Units (1)	75,957	43,686	(75,957)	(43,686)
Repurchase and cancellation of Units	(8,142)	—	—	—
Balance at March 31	984,688	773,207	40,591	267,747

(1)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.

ACCUMULATED OTHER COMPREHENSIVE LOSS (AOCL)

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


	Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2021	$	(2,398)	$	(12)	$	(281)	$	(2,691)
Other comprehensive income (loss) before reclassifications	(17)		—		5		(12)
Amounts reclassified from accumulated other comprehensive loss	34		1		6		41
Deferred taxes	—		—		(2)		(2)
Other comprehensive income	17		1		8		26
Less: Other comprehensive loss attributable to noncontrolling interests	(1)		—		—		(1)


Balance at March 31, 2022	$	(2,380)	$	(11)	$	(273)	$	(2,664)


	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	(50)		8		(9)		(51)
Amounts reclassified from accumulated other comprehensive loss	—		(2)		11		9
Deferred taxes	(1)		—		1		—
Other comprehensive income (loss)	(51)		6		3		(42)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—



Balance at March 31, 2021	$	(2,147)	$	11	$	(448)	$	(2,585)

The amounts reclassified from accumulated other comprehensive loss during the three months ended March 31, 2022 and 2021 represent (i) gains (losses) reclassified on cash flow hedges when the hedged transaction occurs, (ii) the amortization of net actuarial gain (loss), prior service credit, and curtailments which are included in the computation of net periodic pension cost and (iii) the release of foreign currency translation adjustments (see "Note 16. Restructuring, Impairment, and Other" for additional details).

- 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.

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+ Details

Financial Instruments

3 Months Ended

Mar. 31, 2022

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.


	March 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	37	$	—	$	37	$	—	$	29	$	—	$	29
Investment securities	1,023		19		8		1,050		1,033		—		8		1,041
Total assets	1,023		56		8		1,087		1,033		29		8		1,070

Liabilities
Derivatives	—		(67)		—		(67)		—		(49)		—		(49)
Total liabilities	$	—	$	(67)	$	—	$	(67)	$	—	$	(49)	$	—	$	(49)

There were no transfers to, or from, Level 3 during the three months ended March 31, 2022.

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


	2022		2021
Balance at January 1	$	8	$	30

Proceeds at maturity	—		(16)

Balance at March 31	$	8	$	14

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.


	March 31, 2022								December 31, 2021
	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)	$	8	$	—	$	—	$	8	$	8	$	—	$	—	$	8
Equity securities (2)	575		467		—		1,042		579		455		(1)		1,033
Total	$	583	$	467	$	—	$	1,050	$	587	$	455	$	(1)	$	1,041

(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 $12 million and $(786) million for the three months ended March 31, 2022 and 2021, respectively.

As of March 31, 2022 and December 31, 2021, our equity securities with readily determinable fair values are comprised primarily of our investment in C3.ai, Inc. ("C3 AI") of $196 million and $270 million, respectively, and

ADNOC Drilling of $825 million and $741 million, respectively. We measured our investments to fair value based on quoted prices in active markets.

As of March 31, 2022 and December 31, 2021, our investment in C3 AI consists of 8,650,476 shares, of C3 AI Class A common stock ("C3 AI Shares"). There were no C3 AI Shares sold during the three months ended March 31, 2022. For the three months ended March 31, 2022 and 2021, we recorded a loss of $74 million and $788 million, respectively, from the net change in fair value of our investment in C3 AI, which is reported in “Other non-operating loss, net” in our condensed consolidated statements of income (loss).

As of March 31, 2022 and December 31, 2021, our investment in ADNOC Drilling consists of 800,000,000 shares. For the three months ended March 31, 2022, we recorded a gain of $85 million from the net change in fair value of our investment in ADNOC Drilling, which is reported in “Other non-operating loss, net” in our condensed consolidated statements of income (loss).

As of March 31, 2022 and December 31, 2021, $1,050 million and $1,041 million of total investment securities are recorded in "All other current assets," respectively.

FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTS

Our financial instruments include cash and 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 March 31, 2022 and December 31, 2021 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.


	March 31, 2022				December 31, 2021
	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Currency exchange contracts	$	—	$	(2)	$	—	$	(3)
Interest rate swap contracts	—		(37)		—		(10)

Derivatives not accounted for as hedges
Currency exchange contracts and other	37		(28)		29		(36)


Total derivatives	$	37	$	(67)	$	29	$	(49)

Derivatives are classified in the condensed consolidated statements of financial position depending on their respective maturity date. As of March 31, 2022 and December 31, 2021, $36 million and $28 million of derivative assets are recorded in "All other current assets" and $1 million and $1 million are recorded in "All other assets" of the condensed consolidated statements of financial position, respectively. As of March 31, 2022 and December 31, 2021, $29 million and $39 million of derivative liabilities are recorded in "All other current liabilities" and $38 million and $10 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. 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 11. Equity" for further information on activity in AOCI for cash flow hedges. As of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 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 March 31,
		2022		2021
Currency exchange contracts (1)	Cost of goods sold	$	(2)	$	11
Currency exchange contracts	Cost of services sold	3		3
Commodity derivatives	Cost of goods sold	9		3

Total (2)		$	10	$	17

(1)Excludes gains of $1 million and $3 million on embedded derivatives for the three months ended March 31, 2022 and 2021, 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 $3.8 billion and $3.9 billion at March 31, 2022 and December 31, 2021, 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.

Segment Information

3 Months Ended

Mar. 31, 2022

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 and gas and broader energy and industrial markets.

OILFIELD SERVICES ("OFS")

Oilfield Services provides discrete products and services, as well as 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, measurement while drilling & logging while drilling, diamond and tri-cone drill bits, drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping, oilfield and industrial chemicals and artificial lift technologies, including electrical submersible pumps and surface pumping systems.

OILFIELD EQUIPMENT ("OFE")

Oilfield Equipment provides a broad portfolio of products and services required to facilitate the safe and reliable control and 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 wellheads, pressure control and production systems and services, flexible pipe systems for offshore and onshore applications, and life-of-field solutions including well intervention and decommissioning solutions, 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 lower carbon 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 and 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 March 31,
Segment revenue	2022		2021
Oilfield Services	$	2,489	$	2,200
Oilfield Equipment	528		628
Turbomachinery & Process Solutions	1,345		1,485
Digital Solutions	474		470
Total	$	4,835	$	4,782

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 loss, corporate expenses, restructuring, impairment and other charges, separation related costs and certain gains and losses not allocated to the operating segments.


	Three Months Ended March 31,
Segment income (loss) before income taxes	2022		2021
Oilfield Services	$	221	$	143
Oilfield Equipment	(8)		4
Turbomachinery & Process Solutions	226		207
Digital Solutions	15		24
Total segment	453		379
Corporate	(105)		(109)


Restructuring, impairment and other	(61)		(80)
Separation related	(9)		(27)
Other non-operating loss, net	(28)		(626)
Interest expense, net	(64)		(74)
Income (loss) before income taxes	$	187	$	(536)

The following table presents depreciation and amortization by segment:


	Three Months Ended March 31,
Segment depreciation and amortization	2022		2021
Oilfield Services	$	201	$	201
Oilfield Equipment	21		32
Turbomachinery & Process Solutions	29		30
Digital Solutions	22		21
Total segment	272		285
Corporate	4		7
Total	$	277	$	292

- 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	3 Months Ended
Related Party Transactions	Mar. 31, 2022
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, and transition services that they provide. At March 31, 2022, GE's economic interest in us through their ownership of Class B common stock and associated LLC Units was 4%. At March 31, 2022, GE owned Class A common stock in addition to their Class B common stock, which represents their overall Baker Hughes ownership of 11.4%. We had purchases with GE and its affiliates of $144 million and $155 million during the three months ended March 31, 2022 and 2021, respectively. In addition, we sold products and services to GE and its affiliates for $37 million and $49 million during the three months ended March 31, 2022 and 2021, respectively. We have $180 million and $192 million of accounts payable and $463 million and $480 million of current receivables at March 31, 2022 and December 31, 2021, respectively, for goods and services provided by, or to, GE in the ordinary course of business and includes amounts owed to, or from, GE for certain tax matters indemnified pursuant to the Tax Matters Agreement. Additionally, the Company has $139 million and $67 million of current receivables at March 31, 2022 and December 31, 2021, respectively, from Baker Hughes. OTHER RELATED PARTIES We have an aeroderivative joint venture ("Aero JV") we formed with GE in 2019. The Aero JV is jointly controlled by GE and us, each with ownership interest of 50%, and therefore, we do not consolidate the JV nor does GE. We had purchases with the Aero JV of $108 million and $160 million during the three months ended March 31, 2022 and 2021, respectively. We have $59 million and $86 million of accounts payable at March 31, 2022 and December 31, 2021, respectively, for goods and services provided by the Aero JV in the ordinary course of business. Sales of products and services and related receivables with the Aero JV were immaterial for the three months ended March 31, 2022 and 2021.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
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. On November 16, 2021, the court granted the Company's petition to confirm the award and denied IEC's petition to vacate. On February 3, 2022, IEC initiated another arbitration proceeding in New York administered by the ICDR against certain of the Company’s subsidiaries arising out of the same project which formed the basis of the first arbitration. On March 25, 2022, the Company's subsidiaries initiated a separate demand for ICDR arbitration against IEC for claims of additional costs and amounts due. At this time, we are not able to predict the outcome of this proceeding. 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. 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 ("BHI") 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. In February 2022, OFAC informed Baker Hughes that it has issued a cautionary letter and that it will not pursue a civil monetary penalty or further enforcement action. The cautionary letter reflects OFAC’s final enforcement response to Baker Hughes' voluntary self-disclosure. Baker Hughes provided copies of its correspondence with OFAC to the SEC. As the SEC investigation is ongoing, Baker Hughes cannot anticipate the timing, outcome or possible impact of the SEC 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 a customer who has entered into financing arrangements with GE Capital. Total off-balance sheet arrangements were approximately $4.5 billion at March 31, 2022. It is not practicable to estimate the fair value of these financial instruments. As of March 31, 2022, 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	3 Months Ended
Restructuring, Impairment and Other	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring, Impairment and Other	RESTRUCTURING, IMPAIRMENT AND OTHER We recorded restructuring, impairment and other charges of $61 million for the three months ended March 31, 2022. These charges were predominately in our TPS segment for a write-off of an equity method investment and the release of foreign currency translation adjustments. We recorded restructuring, impairment and other charges of $80 million for the three months ended March 31, 2021. These charges were predominately in our OFS and TPS segments and related primarily to employee termination expenses from reducing our headcount in certain geographical locations, partially offset by the gain on the dispositions of certain property, plant and equipment previously impaired as a consequence of exit activities.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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 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, 2021 ("2021 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. The condensed consolidated financial statements include the accounts of BHH LLC and all of its subsidiaries and affiliates which it controls or variable interest entities for which we have determined that we are the primary beneficiary. All intercompany accounts and transactions have been eliminated. In the Company's financial statements and notes, certain prior year amounts have been reclassified to conform to the current year presentation. In the notes to the 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.
Cash and Cash Equivalents	Cash and Cash Equivalents As of March 31, 2022 and December 31, 2021, we had $619 million and $601 million, respectively, of cash held in bank accounts that cannot be readily 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 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)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of 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 March 31,
Total Revenue	2022		2021
U.S.	$	1,104	$	1,052
Non-U.S.	3,731		3,730
Total	$	4,835	$	4,782

Current Receivables (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Current Receivables

Current receivables are comprised of the following:


	March 31, 2022		December 31, 2021
Customer receivables	$	4,849	$	4,724
Related parties	603		548
Other	769		846
Total current receivables	6,221		6,118
Less: Allowance for credit losses	(344)		(400)
Total current receivables, net	$	5,877	$	5,718

Inventories (Tables)

3 Months Ended

Mar. 31, 2022

Inventory, Net [Abstract]

Schedule of Inventories, Net of Reserves

Inventories, net of reserves of $384 million and $374 million as of March 31, 2022 and December 31, 2021, respectively, are comprised of the following:


	March 31, 2022		December 31, 2021
Finished goods	$	2,174	$	2,228
Work in process and raw materials	1,977		1,751

Total inventories, net	$	4,151	$	3,979

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

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, 2020, gross	$	15,362	$	4,162	$	2,234	$	2,452	$	24,210
Accumulated impairment at December 31, 2020	(14,061)		(4,156)		—		(254)		(18,471)
Balance at December 31, 2020	1,301		6		2,234		2,198		5,739

Currency exchange and others	10		(3)		(62)		37		(18)
Balance at December 31, 2021	1,311		3		2,172		2,235		5,721

Currency exchange and others	—		—		(15)		45		30
Balance at March 31, 2022	$	1,311	$	3	$	2,157	$	2,280	$	5,751

Schedule of finite-lived intangible assets

Intangible assets are comprised of the following:


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,921	$	(767)	$	1,154	$	1,922	$	(752)	$	1,170
Technology	1,084		(761)		323		1,090		(747)		343
Trade names and trademarks	292		(172)		120		292		(169)		123
Capitalized software	1,321		(1,065)		256		1,311		(1,057)		254


Finite-lived intangible assets	4,618		(2,765)		1,853		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,265		—		2,265		2,241		—		2,241
Total intangible assets	$	6,883	$	(2,765)	$	4,118	$	6,856	$	(2,725)	$	4,131

Schedule of indefinite-lived intangible assets

Intangible assets are comprised of the following:


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,921	$	(767)	$	1,154	$	1,922	$	(752)	$	1,170
Technology	1,084		(761)		323		1,090		(747)		343
Trade names and trademarks	292		(172)		120		292		(169)		123
Capitalized software	1,321		(1,065)		256		1,311		(1,057)		254


Finite-lived intangible assets	4,618		(2,765)		1,853		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,265		—		2,265		2,241		—		2,241
Total intangible assets	$	6,883	$	(2,765)	$	4,118	$	6,856	$	(2,725)	$	4,131

Schedule of finite-lived intangible assets, future amortization expense

Estimated amortization expense for the remainder of 2022 and each of the subsequent five fiscal years is expected to be as follows:


Year	Estimated Amortization Expense
Remainder of 2022	$	161
2023	203
2024	188
2025	146
2026	100
2027	81

Contract and Other Deferred Assets (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets

Contract assets are comprised of the following:


	March 31, 2022		December 31, 2021
Long-term product service agreements	$	550	$	589
Long-term equipment contracts (1)	922		825
Contract assets (total revenue in excess of billings)	1,472		1,414
Deferred inventory costs	173		156
Non-recurring engineering costs	26		28

Contract and other deferred assets	$	1,671	$	1,598

(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:


	March 31, 2022		December 31, 2021
Progress collections	$	3,349	$	3,108
Deferred income	132		124
Progress collections and deferred income (contract liabilities)	$	3,481	$	3,232

Progress Collections and Deferred Income (Tables)

3 Months Ended

Mar. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of Contract Liabilities

Contract assets are comprised of the following:


	March 31, 2022		December 31, 2021
Long-term product service agreements	$	550	$	589
Long-term equipment contracts (1)	922		825
Contract assets (total revenue in excess of billings)	1,472		1,414
Deferred inventory costs	173		156
Non-recurring engineering costs	26		28

Contract and other deferred assets	$	1,671	$	1,598

(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:


	March 31, 2022		December 31, 2021
Progress collections	$	3,349	$	3,108
Deferred income	132		124
Progress collections and deferred income (contract liabilities)	$	3,481	$	3,232

Leases (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31,
Operating Lease Expense	2022		2021
Long-term fixed lease	$	63	$	62
Long-term variable lease	9		9
Short-term lease	109		99
Total operating lease expense	$	181	$	170

Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Short-term and Long-term Borrowings

borrowings are comprised of the following:


	March 31, 2022		December 31, 2021
Current borrowings




Other borrowings	$	35	$	40



Long-term borrowings
1.231% Senior Notes due December 2023	648		647
8.55% Debentures due June 2024	117		118
2.061% Senior Notes due December 2026	597		597
3.337% Senior Notes due December 2027	1,308		1,335
6.875% Notes due January 2029	277		279
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	1,290		1,292
4.080% Senior Notes due December 2047	1,337		1,337
Other long-term borrowings	57		63
Total long-term borrowings	6,650		6,687
Total borrowings	$	6,685	$	6,727

Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of changes in number of shares outstanding

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


	Units Held by Baker Hughes		Units Held by GE
	2022	2021	2022	2021
Balance at January 1	909,142	723,999	116,548	311,433
Issue of Units to Baker Hughes under equity incentive plan	7,730	5,522	—	—


Exchange of Units (1)	75,957	43,686	(75,957)	(43,686)
Repurchase and cancellation of Units	(8,142)	—	—	—
Balance at March 31	984,688	773,207	40,591	267,747

Schedule of accumulated other comprehensive loss

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


	Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2021	$	(2,398)	$	(12)	$	(281)	$	(2,691)
Other comprehensive income (loss) before reclassifications	(17)		—		5		(12)
Amounts reclassified from accumulated other comprehensive loss	34		1		6		41
Deferred taxes	—		—		(2)		(2)
Other comprehensive income	17		1		8		26
Less: Other comprehensive loss attributable to noncontrolling interests	(1)		—		—		(1)


Balance at March 31, 2022	$	(2,380)	$	(11)	$	(273)	$	(2,664)


	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	(50)		8		(9)		(51)
Amounts reclassified from accumulated other comprehensive loss	—		(2)		11		9
Deferred taxes	(1)		—		1		—
Other comprehensive income (loss)	(51)		6		3		(42)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—



Balance at March 31, 2021	$	(2,147)	$	11	$	(448)	$	(2,585)

- 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)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of 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.


	March 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	37	$	—	$	37	$	—	$	29	$	—	$	29
Investment securities	1,023		19		8		1,050		1,033		—		8		1,041
Total assets	1,023		56		8		1,087		1,033		29		8		1,070

Liabilities
Derivatives	—		(67)		—		(67)		—		(49)		—		(49)
Total liabilities	$	—	$	(67)	$	—	$	(67)	$	—	$	(49)	$	—	$	(49)

Schedule of Reconciliation of Recurring Level 3 Fair Value Measurements

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


	2022		2021
Balance at January 1	$	8	$	30

Proceeds at maturity	—		(16)

Balance at March 31	$	8	$	14

Schedule of Investment Securities Classified as Available for Sale


	March 31, 2022								December 31, 2021
	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)	$	8	$	—	$	—	$	8	$	8	$	—	$	—	$	8
Equity securities (2)	575		467		—		1,042		579		455		(1)		1,033
Total	$	583	$	467	$	—	$	1,050	$	587	$	455	$	(1)	$	1,041

(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 $12 million and $(786) million for the three months ended March 31, 2022 and 2021, respectively.

Schedule of Derivatives

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


	March 31, 2022				December 31, 2021
	Assets		Liabilities		Assets		Liabilities
Derivatives accounted for as hedges
Currency exchange contracts	$	—	$	(2)	$	—	$	(3)
Interest rate swap contracts	—		(37)		—		(10)

Derivatives not accounted for as hedges
Currency exchange contracts and other	37		(28)		29		(36)


Total derivatives	$	37	$	(67)	$	29	$	(49)

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 March 31,
		2022		2021
Currency exchange contracts (1)	Cost of goods sold	$	(2)	$	11
Currency exchange contracts	Cost of services sold	3		3
Commodity derivatives	Cost of goods sold	9		3

Total (2)		$	10	$	17

(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)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of 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 March 31,
Segment revenue	2022		2021
Oilfield Services	$	2,489	$	2,200
Oilfield Equipment	528		628
Turbomachinery & Process Solutions	1,345		1,485
Digital Solutions	474		470
Total	$	4,835	$	4,782


	Three Months Ended March 31,
Segment income (loss) before income taxes	2022		2021
Oilfield Services	$	221	$	143
Oilfield Equipment	(8)		4
Turbomachinery & Process Solutions	226		207
Digital Solutions	15		24
Total segment	453		379
Corporate	(105)		(109)


Restructuring, impairment and other	(61)		(80)
Separation related	(9)		(27)
Other non-operating loss, net	(28)		(626)
Interest expense, net	(64)		(74)
Income (loss) before income taxes	$	187	$	(536)

The following table presents depreciation and amortization by segment:


	Three Months Ended March 31,
Segment depreciation and amortization	2022		2021
Oilfield Services	$	201	$	201
Oilfield Equipment	21		32
Turbomachinery & Process Solutions	29		30
Digital Solutions	22		21
Total segment	272		285
Corporate	4		7
Total	$	277	$	292

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Restricted cash and cash equivalents held in bank accounts	$ 619	$ 601
BHH LLC
Business Acquisition [Line Items]
Approximate interest	96.00%
BHH LLC \| GE \| GE
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	4.00%

Revenue Related to Contracts with Customers - Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 4,835	$ 4,782
U.S.
Disaggregation of Revenue [Line Items]
Revenues	1,104	1,052
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenues	$ 3,731	$ 3,730

- 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.

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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	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 25.8	$ 23.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Within 2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	53.00%
Performance obligations expected to be satisfied, expected timing	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Within 5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	68.00%
Performance obligations expected to be satisfied, expected timing	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 \| Within 15 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, percent	87.00%
Performance obligations expected to be satisfied, expected timing	15 years

Current Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	$ 6,221	$ 6,118
Less: Allowance for credit losses	(344)	(400)
Total current receivables, net	5,877	5,718
Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	4,849	4,724
Related parties \| GE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	603	548
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables	$ 769	$ 846

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory, Net [Abstract]
Inventory valuation reserves	$ 384	$ 374
Finished goods	2,174	2,228
Work in process and raw materials	1,977	1,751
Total inventories, net	$ 4,151	$ 3,979

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Balance at December 31, 2020, gross			$ 24,210
Accumulated impairment at December 31, 2020			(18,471)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 5,721	$ 5,739
Currency exchange and others	30	(18)
Goodwill, net, ending balance	5,751	5,721
Oilfield Services
Goodwill [Line Items]
Balance at December 31, 2020, gross			15,362
Accumulated impairment at December 31, 2020			(14,061)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	1,311	1,301
Currency exchange and others	0	10
Goodwill, net, ending balance	1,311	1,311
Oilfield Equipment
Goodwill [Line Items]
Balance at December 31, 2020, gross			4,162
Accumulated impairment at December 31, 2020			(4,156)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	3	6
Currency exchange and others	0	(3)
Goodwill, net, ending balance	3	3
Turbo- machinery & Process Solutions
Goodwill [Line Items]
Balance at December 31, 2020, gross			2,234
Accumulated impairment at December 31, 2020			0
Goodwill [Roll Forward]
Goodwill, net, beginning balance	2,172	2,234
Currency exchange and others	(15)	(62)
Goodwill, net, ending balance	2,157	2,172
Digital Solutions
Goodwill [Line Items]
Balance at December 31, 2020, gross			2,452
Accumulated impairment at December 31, 2020			$ (254)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	2,235	2,198
Currency exchange and others	45	37
Goodwill, net, ending balance	$ 2,280	$ 2,235

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) segment	Mar. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments	4
Number of reportable units	4
Finite-Lived Intangible Assets [Line Items]
Amortization expense \| $	$ 55	$ 69
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	35 years

Goodwill and Other Intangible Assets - Intangible Assets by Type (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 4,618	$ 4,615
Accumulated Amortization	(2,765)	(2,725)
Net	1,853	1,890
Indefinite-lived intangible assets	2,265	2,241
Total intangible assets, Gross Carrying Amount	6,883	6,856
Total intangible assets, Net	4,118	4,131
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,921	1,922
Accumulated Amortization	(767)	(752)
Net	1,154	1,170
Technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,084	1,090
Accumulated Amortization	(761)	(747)
Net	323	343
Trade names and trademarks
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	292	292
Accumulated Amortization	(172)	(169)
Net	120	123
Capitalized software
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,321	1,311
Accumulated Amortization	(1,065)	(1,057)
Net	$ 256	$ 254

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense (Details) $ in Millions	Mar. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 161
2023	203
2024	188
2025	146
2026	100
2027	$ 81

Contract and Other Deferred Assets (Details) - USD ($)	3 Months Ended
Contract and Other Deferred Assets (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	$ 1,472,000,000		$ 1,414,000,000
Deferred inventory costs	173,000,000		156,000,000
Non-recurring engineering costs	26,000,000		28,000,000
Contract and other deferred assets	1,671,000,000		1,598,000,000
Revenue recognized from performance obligations satisfied in previous periods	(4,000,000)	$ 0
Long-term product service agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	550,000,000		589,000,000
Long-term equipment contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (revenue in excess of billings)	$ 922,000,000		$ 825,000,000

Progress Collections and Deferred Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 3,481		$ 3,232
Revenue recognized, included in contract liability	739	$ 878
Progress collections
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	3,349		3,108
Deferred income
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 132		$ 124

Leases - Operating Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Lease Expense
Long-term fixed lease	$ 63	$ 62
Long-term variable lease	9	9
Short-term lease	109	99
Total operating lease expense	$ 181	$ 170

Leases - Narrative (Details)	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease, weighted-average remaining lease term	9 years	9 years
Operating lease, weighted-average discount rate	3.30%	3.30%

Borrowings - Short-term and Long-term Borrowings (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current borrowings
Other borrowings	$ 35	$ 40
Long-term borrowings
Other long-term borrowings	57	63
Total long-term borrowings	6,650	6,687
Total borrowings	$ 6,685	6,727
Senior Notes \| 1.231% Senior Notes due December 2023
Debt Instrument [Line Items]
Stated interest rate	1.231%
Long-term borrowings
Long-term borrowings	$ 648	647
Senior Notes \| 2.061% Senior Notes due December 2026
Debt Instrument [Line Items]
Stated interest rate	2.061%
Long-term borrowings
Long-term borrowings	$ 597	$ 597
Senior Notes \| 3.337% Senior Notes due December 2027
Debt Instrument [Line Items]
Stated interest rate	3.337%	3.337%
Long-term borrowings
Long-term borrowings	$ 1,308	$ 1,335
Senior Notes \| 6.875% Notes due January 2029
Debt Instrument [Line Items]
Stated interest rate	6.875%
Long-term borrowings
Long-term borrowings	$ 277	279
Senior Notes \| 3.138% Senior Notes due November 2029
Debt Instrument [Line Items]
Stated interest rate	3.138%
Long-term borrowings
Long-term borrowings	$ 522	522
Senior Notes \| 4.486% Senior Notes due May 2030
Debt Instrument [Line Items]
Stated interest rate	4.486%
Long-term borrowings
Long-term borrowings	$ 497	497
Senior Notes \| 5.125% Senior Notes due September 2040
Debt Instrument [Line Items]
Stated interest rate	5.125%
Long-term borrowings
Long-term borrowings	$ 1,290	1,292
Senior Notes \| 4.080% Senior Notes due December 2047
Debt Instrument [Line Items]
Stated interest rate	4.08%
Long-term borrowings
Long-term borrowings	$ 1,337	1,337
Debentures \| 8.55% Debentures due June 2024
Debt Instrument [Line Items]
Stated interest rate	8.55%
Long-term borrowings
Long-term borrowings	$ 117	118
Other borrowings
Current borrowings
Other borrowings	$ 35	$ 40

Borrowings - Narrative (Details) - USD ($)	3 Months Ended
Borrowings - Narrative (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Estimated fair value of debt	$ 6,732,000,000	$ 7,328,000,000
Commercial paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 3,000,000,000
Debt term (no more than)	397 days
BHH LLC \| Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Ownership percentage	100.00%
Long-term borrowings	$ 6,594,000,000
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

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (95)	$ (83)

- Definition

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

+ References + Details

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Jul. 31, 2021
Class of Stock [Line Items]
Repurchase and cancellation of common units		$ 236
BHH LLC
Class of Stock [Line Items]
Authorized stock repurchase (in shares)			2,000,000,000
Stock repurchased and canceled (in shares)		8,100,000
Repurchase and cancellation of common units		$ 236
Remaining authorized repurchase amount		$ 1,300
Stock repurchased (in shares)	400,000
Stock Repurchased During Period, Value	$ 11
Treasury Stock Acquired, Average Cost Per Share		$ 28.96

Equity - Changes in Number of Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Units Held by Baker Hughes
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	909,142	723,999
Issue of shares upon vesting of restricted stock units (in shares)	7,730	5,522
Exchange of Class B common stock for Class A common stock (in shares)	(75,957)	(43,686)
Repurchase and cancellation of Class A common stock (in shares)	(8,142)	0
Ending balance (in shares)	984,688	773,207
Units Held by GE
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	116,548	311,433
Issue of shares upon vesting of restricted stock units (in shares)	0	0
Exchange of Class B common stock for Class A common stock (in shares)	(75,957)	(43,686)
Repurchase and cancellation of Class A common stock (in shares)	0	0
Ending balance (in shares)	40,591	267,747

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 16,726	$ 18,163
Other comprehensive income (loss) before reclassifications	(12)	(51)
Amounts reclassified from accumulated other comprehensive loss	41	9
Deferred taxes	(2)	0
Other comprehensive income (loss)	26	(42)
Less: Other comprehensive loss attributable to noncontrolling interests	(1)	0
Ending Balance	16,513	17,380
Foreign Currency Translation Adjustment, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(2,398)	(2,096)
Ending Balance	(2,380)	(2,147)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(17)	(50)
Amounts reclassified from accumulated other comprehensive loss	34	0
Deferred taxes	0	(1)
Other comprehensive income (loss)	17	(51)
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)	0
Cash Flow Hedges, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(12)	5
Ending Balance	(11)	11
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	0	8
Amounts reclassified from accumulated other comprehensive loss	1	(2)
Deferred taxes	0	0
Other comprehensive income (loss)	1	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
Benefit Plans, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(281)	(451)
Ending Balance	(273)	(448)
Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	5	(9)
Amounts reclassified from accumulated other comprehensive loss	6	11
Deferred taxes	(2)	1
Other comprehensive income (loss)	8	3
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
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(2,691)	(2,542)
Other comprehensive income (loss)	27	(42)
Ending Balance	$ (2,664)	$ (2,585)

Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets
Investment securities	$ 1,050	$ 1,041
Total assets	37	29
Liabilities
Total liabilities	(67)	(49)
Recurring
Assets
Derivatives	37	29
Investment securities	1,050	1,041
Total assets	1,087	1,070
Liabilities
Derivatives	(67)	(49)
Total liabilities	(67)	(49)
Recurring \| Level 1
Assets
Derivatives	0	0
Investment securities	1,023	1,033
Total assets	1,023	1,033
Liabilities
Derivatives	0	0
Total liabilities	0	0
Recurring \| Level 2
Assets
Derivatives	37	29
Investment securities	19	0
Total assets	56	29
Liabilities
Derivatives	(67)	(49)
Total liabilities	(67)	(49)
Recurring \| Level 3
Assets
Derivatives	0	0
Investment securities	8	8
Total assets	8	8
Liabilities
Derivatives	0	0
Total liabilities	$ 0	$ 0

Financial Instruments - Reconciliation of Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 8	$ 30
Proceeds at maturity	0	(16)
Ending balance	$ 8	$ 14

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities	$ 1,050,000,000		$ 1,041,000,000
Notional amount	3,800,000,000		3,900,000,000
Aeroderivative Joint venture \| Corporate joint venture
Derivative Instruments, Gain (Loss) [Line Items]
Ownership percentage by noncontrolling owners				50.00%
Aeroderivative Joint venture \| Corporate joint venture \| General Electric Company [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Ownership percentage by noncontrolling owners				50.00%
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
Stated interest rate	3.337%		3.337%
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	$ 1,050,000,000		$ 1,041,000,000
Derivative assets	36,000,000		28,000,000
All other assets
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	1,000,000		1,000,000
All other current liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	29,000,000		39,000,000
All other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	38,000,000		10,000,000
C3 AI
Derivative Instruments, Gain (Loss) [Line Items]
Equity securities economic interest fair value	196,000,000		$ 270,000,000
Loss on equity securities	$ 74,000,000	$ 788,000,000
C3 AI \| C3 AI Shares
Derivative Instruments, Gain (Loss) [Line Items]
Investment shares owned (in shares)	8,650,476		8,650,476
Investments owned, number of shares sold (in shares)	0
ADNOC Drilling
Derivative Instruments, Gain (Loss) [Line Items]
Equity securities economic interest fair value	$ 825,000,000		$ 741,000,000
Investment shares owned (in shares)	800,000,000		800,000,000
Mark to market unrealized gain	$ 85,000,000
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 ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Equity securities, amortized cost	$ 575		$ 579
Equity securities, gross unrealized gains	467		455
Equity securities, gross unrealized losses	0		(1)
Equity securities, estimated fair value	1,042		1,033
Total, amortized cost	583		587
Total, gross unrealized gains	467		455
Total, gross unrealized losses	0		(1)
Total, estimated fair value	1,050		1,041
Net unrealized gain (loss)	12	$ (786)
Non-U.S. debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, amortized cost	8		8
Debt securities, gross unrealized gains	0		0
Debt securities, gross unrealized losses	0		0
Debt securities, estimated fair value	$ 8		$ 8
Debt securities maturity	1 year		1 year

Financial Instruments - Derivatives and Hedging (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Assets	$ 37,000,000	$ 29,000,000
Liabilities	(67,000,000)	(49,000,000)
Notional amount	$ 3,800,000,000	$ 3,900,000,000
3.337% Senior Notes due December 2027 \| Senior Notes
Derivatives, Fair Value [Line Items]
Stated interest rate	3.337%	3.337%
Aggregate principal amount	$ 1,350,000,000	$ 1,350,000,000
Currency exchange contracts \| Derivatives accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	(2,000,000)	(3,000,000)
Currency exchange contracts \| Derivatives not accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	37,000,000	29,000,000
Liabilities	(28,000,000)	(36,000,000)
Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Notional amount	500,000,000	500,000,000
Interest rate swap contracts \| Derivatives accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	$ (37,000,000)	$ (10,000,000)

Financial Instruments - Economic Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Embedded derivatives, loss	$ 1	$ 3
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	10	17
Derivatives not designated as hedging instruments \| Currency exchange contracts \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	(2)	11
Derivatives not designated as hedging instruments \| Currency exchange contracts \| Cost of services sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	3	3
Derivatives not designated as hedging instruments \| Commodity derivatives \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	$ 9	$ 3

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 31, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Information - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Segment revenue	$ 4,835	$ 4,782
Summarized financial information [Abstract]
Income (loss) before income taxes	187	(536)
Other non-operating loss, net	(28)	(626)
Interest expense, net	(64)	(74)
Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	453	379
Corporate
Summarized financial information [Abstract]
Income (loss) before income taxes	(105)	(109)
Segment reconciling items
Summarized financial information [Abstract]
Restructuring, impairment and other	(61)	(80)
Separation related	(9)	(27)
Other non-operating loss, net	(28)	(626)
Interest expense, net	(64)	(74)
Oilfield Services
Segment Reporting Information [Line Items]
Segment revenue	2,489	2,200
Oilfield Services \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	221	143
Oilfield Equipment
Segment Reporting Information [Line Items]
Segment revenue	528	628
Oilfield Equipment \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	(8)	4
Turbomachinery & Process Solutions
Segment Reporting Information [Line Items]
Segment revenue	1,345	1,485
Turbomachinery & Process Solutions \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	226	207
Digital Solutions
Segment Reporting Information [Line Items]
Segment revenue	474	470
Digital Solutions \| Operating segments
Summarized financial information [Abstract]
Income (loss) before income taxes	$ 15	$ 24

Segment Information - Capital Expenditures and Depreciation and Amortization by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 277	$ 292
Operating segments
Segment Reporting Information [Line Items]
Depreciation and amortization	272	285
Operating segments \| Oilfield Services
Segment Reporting Information [Line Items]
Depreciation and amortization	201	201
Operating segments \| Oilfield Equipment
Segment Reporting Information [Line Items]
Depreciation and amortization	21	32
Operating segments \| Turbo- machinery & Process Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	29	30
Operating segments \| Digital Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	22	21
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 4	$ 7

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2019
Related Party Transaction [Line Items]
Total current receivables, gross	$ 6,221		$ 6,118
GE
Related Party Transaction [Line Items]
Total current receivables, gross	139		67
GE \| Purchases, GE and its affiliates
Related Party Transaction [Line Items]
Purchases	144	$ 155
GE \| Sales of products and services, GE and its affiliates
Related Party Transaction [Line Items]
Revenue from related parties	37	49
GE \| Accounts Payable, GE and its affiliates
Related Party Transaction [Line Items]
Accounts payable	180		192
GE \| Accounts Receivable, GE and its Affiliates
Related Party Transaction [Line Items]
Current receivables	$ 463		480
GE \| GE \| BHH LLC
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	4.00%
GE \| GE \| BHH LLC \| Common Class A and B
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	11.40%
Corporate joint venture
Related Party Transaction [Line Items]
Purchases	$ 108	$ 160
Accounts payable	$ 59		$ 86
Corporate joint venture \| Aeroderivative Joint venture
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners				50.00%
Corporate joint venture \| GE \| Aeroderivative Joint venture
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners				50.00%

Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions					1 Months Ended	3 Months Ended
	May 29, 2020 USD ($)	Mar. 03, 2020 USD ($)	Mar. 15, 2019 USD ($)	Mar. 18, 2018 USD ($)	Jan. 31, 2013	Mar. 31, 2022 EUR (€) subsidiary company	Mar. 31, 2022 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 \| City of Riviera Beach Pension Fund and Richard Schippnick
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
	Mar. 31, 2022	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring, impairment and other	$ 61	$ 80