0001701605-23-000044 | 10-K | XBRL Viewer

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Segment Information - Assets by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	$ 34,181	$ 35,308
Segment depreciation and amortization	1,061	1,105	$ 1,317
Segment capital expenditures	989	856	974
Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	29,467	29,430
Segment depreciation and amortization	1,042	1,082	1,288
Segment capital expenditures	974	841	939
Operating segments \| Oilfield Services & Equipment
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	17,181	17,950
Segment depreciation and amortization	845	874	1,072
Segment capital expenditures	791	659	743
Operating segments \| Industrial & Energy Technology
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	12,286	11,480
Segment depreciation and amortization	197	208	216
Segment capital expenditures	183	182	196
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	4,714	5,878
Segment depreciation and amortization	19	23	29
Segment capital expenditures	$ 15	$ 15	$ 35

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS WITH GE During the second quarter of 2022, GE's ownership interest in us and BHH LLC was reduced to less than 5%. As a result, considering all aspects of our relationship with GE, as of June 30, 2022, we no longer consider GE a related party. Below we provide our disclosures for purchases and sales with GE through June 30, 2022. We had purchases with GE and its affiliates of $293 million during the six months ended June 30, 2022, and $716 million and $804 million during the years ended December 31, 2021 and 2020, respectively. In addition, we sold products and services to GE and its affiliates for $83 million during the six months ended June 30, 2022, and, $185 million and $212 million during the years ended December 31, 2021 and 2020, respectively. 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. We had purchases with the Aero JV of $528 million, $603 million, and $642 million during the years ended December 31, 2022, 2021 and 2020, respectively. We have $110 million and $86 million of accounts payable at December 31, 2022 and 2021, respectively, for products 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 years ended December 31, 2022, 2021 and 2020.

Financial Instruments - Narrative (Details) - USD ($)	12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Loss on equity securities	$ 0	$ 1,000,000
Investment securities	748,000,000	1,041,000,000
Current derivative asset	$ 17,000,000	$ 28,000,000
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	All other current assets	All other current assets
Noncurrent derivative asset	$ 1,000,000	$ 1,000,000
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	All other assets	All other assets
Current derivative liability	$ 17,000,000	$ 39,000,000
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	All other current liabilities	All other current liabilities
Noncurrent derivative liability	$ 69,000,000	$ 10,000,000
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	All other liabilities	All other liabilities
Notional amount	$ 3,800,000,000	$ 3,900,000,000
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term	1 year	1 year
3.337% Senior Notes due December 2027
Derivative Instruments, Gain (Loss) [Line Items]
Fixed rate	3.337%	3.337%
3.337% Senior Notes due December 2027 \| Senior Notes
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate principal amount	$ 1,350,000,000	$ 1,350,000,000
Fixed rate	3.337%
Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 500,000,000	500,000,000
All other current assets
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities	748,000,000	1,041,000,000
C3 AI
Derivative Instruments, Gain (Loss) [Line Items]
Equity securities economic interest fair value	$ 97,000,000	$ 270,000,000
Investment (in shares)	8,650,476	8,650,476
Investments owned, number of shares sold (in shares)		2,200,000
Proceeds from sale of long-term investments		$ 145,000,000
Loss on equity securities	$ 174,000,000	1,085,000,000
ADNOC Drilling
Derivative Instruments, Gain (Loss) [Line Items]
Equity securities economic interest fair value	$ 649,000,000	$ 741,000,000
Investment (in shares)	800,000,000	800,000,000
Mark to market unrealized gain	$ (91,000,000)	$ 241,000,000
Level 3
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on Level 3 instruments held at reporting date	$ 0

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 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. On December 12, 2022, the expert issued his final report, which found no liability on the part of the Company's subsidiaries. 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. During the second quarter of 2022, IEC paid the amounts owed under the arbitration award, which had an immaterial impact on the Company’s financial statements. 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 these proceedings. On March 15, 2019 and March 18, 2019, the City of Riviera Beach Pension Fund and Richard Schippnick, respectively, filed in the Delaware Court of Chancery shareholder derivative lawsuits for and on the Company’s behalf against GE, the then-current members of the Board of Directors of the Company and the Company as a nominal defendant, related to the decision to (i) terminate the contractual prohibition barring GE from selling any of the Company’s shares before July 3, 2019; (ii) repurchase $1.5 billion in the Company’s stock from GE; (iii) permit GE to sell approximately $2.5 billion in the Company’s stock through a secondary offering; and (iv) enter into a series of other agreements and amendments that will govern the ongoing relationship between the Company and GE (collectively, the “2018 Transactions”). The complaints in both lawsuits allege, among other things, that GE, as the Company’s controlling stockholder, and the members of the Company’s 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 the Company, 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 the Company’s 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 the Company’s Board of Directors to pursue the claims itself, and GE and the Company’s 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, the Company’s 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 BHI against 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. On or around January 27, 2023, the parties entered into a confidential Settlement Agreement. Any consideration contemplated by the Settlement Agreement is immaterial to the Company's financial statements. In December 2020, the Company received notice that the SEC was conducting a formal investigation that the Company understands was related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions. The Company cooperated with the SEC and provided requested information. The Company also initiated an internal review with the assistance of external legal counsel regarding internal controls and compliance related to U.S. sanctions requirements. While the Company's review was ongoing, in September 2021, the Company 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 the Company 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 the Company’s voluntary self-disclosure. The Company provided copies of its correspondence with OFAC to the SEC. On January 12, 2023, the Company was notified that the SEC had concluded its investigation and does not intend to recommend an enforcement action against the Company. 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. ENVIRONMENTAL MATTERS Item 103 of SEC Regulation S-K requires disclosure of certain environmental matters when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that the Company reasonably believes will exceed a specified threshold. The Company uses a threshold of $1 million for such proceedings. Applying this threshold, there are no environmental matters to disclose for this period. Estimated remediation costs are accrued using currently available facts, existing environmental permits, technology and enacted laws and regulations. Our cost estimates are developed based on internal evaluations and are not discounted. Accruals are recorded when it is probable that we will be obligated to pay for environmental site evaluation, remediation or related activities, and such costs can be reasonably estimated. As additional information becomes available, accruals are adjusted to reflect current cost estimates. Ongoing environmental compliance costs, such as obtaining or renewing environmental permits, installation of pollution control equipment and waste disposal are expensed as incurred. Where we have been identified as a potentially responsible party in a U.S. federal or state Comprehensive Environmental Response, Compensation and Liability Act ("Superfund") site, we accrue our share, if known, of the estimated remediation costs of the site. This share is based on the ratio of the estimated volume of waste we contributed to the site to the total volume of waste disposed at the site. 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 a guarantee to GE Capital on behalf of a customer who entered into a financing arrangement with GE Capital. Total off-balance sheet arrangements were approximately $4.5 billion at December 31, 2022. It is not practicable to estimate the fair value of these financial instruments. As of December 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 also had commitments outstanding for purchase obligations for each of the five years in the period ending December 31, 2027 of $1,584 million, $377 million, $267 million, $119 million and $113 million, respectively, and $31 million in the aggregate thereafter. We sometimes enter into consortium or similar arrangements for certain projects primarily in our OFSE 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.

Leases - Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 214
2024	175
2025	119
2026	91
2027	58
Thereafter	203
Total lease payments	860
Less: imputed interest	119
Total	$ 741	$ 820

Segment Information - Narrative (Details)		9 Months Ended	12 Months Ended
Segment Information - Narrative (Details)	Oct. 01, 2022 segment	Sep. 30, 2022 segment	Dec. 31, 2022 product_line
Segment Reporting [Abstract]
Number of operating segments \| segment	2	4
Segment Reporting Information
Number of operating segments \| segment	2	4
Oilfield Services & Equipment
Segment Reporting Information
Number of product line \| product_line			4
Industrial & Energy Technology
Segment Reporting Information
Number of product line \| product_line			6

Employee Benefit Plans - Assumptions Used for Net Periodic Cost (Details) - Pension Benefits	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	2.15%	1.66%	2.34%
Expected long-term return on plan assets	3.85%	4.07%	4.20%
Interest crediting rate	2.60%	2.60%	2.60%

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

GOODWILL

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


	Oilfield Services & Equipment		Industrial & Energy Technology		Total
Balance at December 31, 2020, gross	$	19,818	$	4,686	$	24,504
Accumulated impairment at December 31, 2020	(18,273)		(254)		(18,527)
Balance at December 31, 2020	1,545		4,432		5,977


Currency exchange and others	7		(25)		(18)
Balance at December 31, 2021	1,552		4,407		5,959

Disposition (1)	(161)		—		(161)
Acquisitions (2)	41		417		458
Currency exchange, impairment and other	—		(96)		(96)
Total	1,432		4,728		6,160
Classified as held for sale (3)	—		(230)		(230)
Balance at December 31, 2022	$	1,432	$	4,498	$	5,930

(1)The reduction in Oilfield Services & Equipment ("OFSE") goodwill relates to the sale of part of our OFSE Russia business. See "Note 21. Business Dispositions and Acquisitions" for further information.

(2)See "Note 21. Business Dispositions and Acquisitions" for further information related to acquisitions occurring during 2022.

(3)The reduction in Industrial & Energy Technology ("IET") goodwill relates to transferring our IET Nexus Controls business to held for sale. See "Note 22. Business Held for Sale" for further information.

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. 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 our market capitalization below our book value, and the magnitude and duration of those declines, if any.

During the third quarter of 2022, we completed our annual impairment test for each of our reporting units and determined that the fair value was substantially in excess of the carrying value for each reporting unit except for Subsea & Surface Pressure Systems (formerly Oilfield Equipment) resulting in an immaterial impairment of the residual amount of goodwill for this reporting unit. As previously disclosed, effective October 1, 2022, the Company reorganized to create two operating segments. In conjunction with the change in segments, the Company reevaluated its reporting units and concluded there was an immaterial change to the composition of its reporting units resulting in an immaterial goodwill allocation. In addition, we assessed our goodwill for recoverability following the reorganization, and concluded there was no impairment, which was consistent with our annual goodwill impairment test completed immediately prior to the reorganization. See "Note 17. Segment Information" for further details on the change in operating segments. Between our annual test and December 31, 2022, we did not identify any indicators that would lead to a determination that it is more likely than not the fair value of any 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 at December 31:


	2022						2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,917	$	(729)	$	1,189	$	1,922	$	(752)	$	1,170
Technology	1,212		(803)		409		1,090		(747)		$	343
Trade names and trademarks	287		(175)		112		292		(169)		123
Capitalized software	1,308		(1,040)		268		1,311		(1,057)		254



Finite-lived intangible assets	4,725		(2,747)		1,978		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,202		—		2,202		2,241		—		2,241
Total intangible assets	$	6,927	$	(2,747)	$	4,180	$	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 was $222 million, $253 million and $308 million for the years ended December 31, 2022, 2021 and 2020, respectively.

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


Year	Estimated Amortization Expense
2023	$	245
2024	223
2025	182
2026	135
2027	114

Leases - Lease Liabilities Statement of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	All other current liabilities	All other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	All other liabilities	All other liabilities
All other current liabilities	$ 189	$ 196
All other liabilities	552	624
Total	$ 741	$ 820

Restructuring, Impairment and Other (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Impairment Charges

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


	2022		2021		2020
Oilfield Services & Equipment	$	121	$	121	$	800
Industrial & Energy Technology	36		11		89
Corporate	39		6		14
Total	$	196	$	138	$	903

The following table presents restructuring and impairment charges by type:


	2022		2021		2020
Property, plant and equipment	$	58	$	7	$	385
Employee-related termination expenses	121		99		464
Asset relocation costs	3		20		15

Contract termination fees	1		2		23
Other incremental costs	13		10		16
Total	$	196	$	138	$	903

Supplementary Information - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Employee-related liabilities	$ 837	$ 955

Financial Instruments - Investment Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Equity securities, amortized cost	$ 557	$ 579
Equity securities, gross unrealized gain	191	455
Equity securities, gross unrealized loss	0	(1)
Equity securities, estimated fair value	748	1,033
Total, amortized cost	557	587
Total , gross unrealized gains	191	455
Total , gross unrealized losses	0	(1)
Total, estimated fair value	748	1,041
Net unrealized gain (loss)	(271)	(843)	$ 1,400
Non-U.S. debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, amortized cost	0	8
Debt securities, gross unrealized gains	0	0
Debt securities, gross unrealized losses	0	0
Debt securities, estimated fair value	$ 0	$ 8

Contract and Other Deferred Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	$ 1,347	$ 1,414
Deferred inventory costs	125	156
Non-recurring engineering costs	31	28
Contract and other deferred assets	1,503	1,598
Revenue recognized from performance obligations satisfied in previous periods	20	14
Long-term product service agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	392	589
Long-term equipment contracts and certain other service agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	$ 955	$ 825

Inventories

12 Months Ended

Dec. 31, 2022

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories, net of reserves of $396 million and $374 million in 2022 and 2021, respectively, are comprised of the following at December 31:


	2022		2021
Finished goods	$	2,419	$	2,228
Work in process and raw materials	2,168		1,751
Total inventories, net	$	4,587	$	3,979

For the year ended December 31, 2022, we recorded inventory impairments of $31 million. Inventory impairments in 2022 were primarily in our Industrial & Energy Technology segment as part of suspending our Russia operations. Inventory impairments are reported in the "Cost of goods sold" caption of the consolidated statements of income (loss). There were no inventory impairments during 2021.

Employee Benefit Plans - Fair Value of the Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	$ 2,266	$ 3,147	$ 3,202
Fixed income and cash investment funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	1,482	1,890
Global equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	180	250
U.S. equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	102	222
Insurance contracts
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	100	112
Real estate
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	53	59
Private equities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	37	48
Other investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets by asset category and by levels of fair value	$ 313	$ 566

Financial Instruments - Recurring fair value measurements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Derivatives	$ 18	$ 29
Investment securities	748	1,041
Liabilities
Derivatives	(86)	(49)
Recurring
Assets
Derivatives	18	29
Investment securities	748	1,041
Assets, fair value	766	1,070
Liabilities
Derivatives	(86)	(49)
Total liabilities	(86)	(49)
Recurring \| Level 1
Assets
Derivatives	0	0
Investment securities	748	1,033
Assets, fair value	748	1,033
Liabilities
Derivatives	0	0
Total liabilities	0	0
Recurring \| Level 2
Assets
Derivatives	18	29
Investment securities	0	0
Assets, fair value	18	29
Liabilities
Derivatives	(86)	(49)
Total liabilities	(86)	(49)
Recurring \| Level 3
Assets
Derivatives	0	0
Investment securities	0	8
Assets, fair value	0	8
Liabilities
Derivatives	0	0
Total liabilities	$ 0	$ 0

Goodwill and Intangible Assets - Future Estimated Amortization Expense (Details) $ in Millions	Dec. 31, 2022 USD ($)
Estimated Amortization Expense
2023	$ 245
2024	223
2025	182
2026	135
2027	$ 114

Progress Collections and Deferred Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 3,822	$ 3,232
Revenue recognized, included in contract liability	2,185	2,398
Progress collections
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	3,713	3,108
Deferred income
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 109	$ 124

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 16,746	$ 18,242	$ 34,499
Other comprehensive income (loss) before reclassifications	(293)	(220)
Amounts reclassified from accumulated other comprehensive loss	55	70
Deferred taxes	(43)	(1)
Other comprehensive income (loss)	(281)	(151)	43
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(3)	(16)	0
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	308	472
Ending balance	14,525	16,746	18,242
Foreign Currency Translation Adjustment, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,125)	(1,464)
Ending balance	(2,666)	(2,125)	(1,464)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(294)	(344)
Amounts reclassified from accumulated other comprehensive loss	25	39
Deferred taxes	0	0
Other comprehensive income (loss)	(269)	(305)
Foreign Currency Translation Adjustment, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(3)	(38)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	275	394
Cash Flow Hedges, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(10)	3
Ending balance	(9)	(10)	3
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(1)	(11)
Amounts reclassified from accumulated other comprehensive loss	3	(7)
Deferred taxes	0	2
Other comprehensive income (loss)	2	(16)
Cash Flow Hedges, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	(3)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	1	0
Benefit Plans, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(250)	(317)
Ending balance	(296)	(250)	(317)
Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	2	135
Amounts reclassified from accumulated other comprehensive loss	27	38
Deferred taxes	(43)	(3)
Other comprehensive income (loss)	(14)	170
Benefit Plans, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	25
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	32	78
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,385)	(1,778)	(1,636)
Other comprehensive income (loss)	(278)	(135)	43
Ending balance	$ (2,971)	$ (2,385)	$ (1,778)

Employee Benefit Plans - Information for Plans with ABOs and PBOs in Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Projected benefit obligation	$ 1,143	$ 1,476
Accumulated benefit obligation	1,103	1,423
Fair value of plan assets	717	964
Projected benefit obligation	1,143	1,476
Accumulated benefit obligation	1,103	1,423
Fair value of plan assets	$ 717	$ 964

Contract and Other Deferred Assets

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Contract and Other Deferred Assets

CONTRACT AND OTHER DEFERRED ASSETS

Contract assets reflect revenue earned in excess of billings on our long-term contracts to construct technically complex equipment, provide long-term product service and maintenance or extended warranty arrangements and other deferred contract related costs. Our long-term product service agreements are provided by our IET segment. Our long-term equipment contracts are provided by both our IET and OFSE segments. Contract assets are comprised of the following at December 31:


	2022		2021
Long-term product service agreements	$	392	$	589
Long-term equipment contracts and certain other service agreements	955		825
Contract assets (total revenue in excess of billings)	1,347		1,414
Deferred inventory costs	125		156
Non-recurring engineering costs	31		28
Contract and other deferred assets	$	1,503	$	1,598

Revenue recognized during the years ended December 31, 2022 and 2021 from performance obligations satisfied (or partially satisfied) in previous years related to our long-term service agreements was $20 million and $14 million, 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.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Revenues	$ 21,156	$ 20,502	$ 20,705
Costs and expenses:
Selling, general and administrative	2,510	2,470	2,404
Goodwill impairment	0	0	14,773
Restructuring, impairment and other	682	209	1,866
Separation related	23	60	134
Total costs and expenses	19,971	19,192	36,683
Operating income (loss)	1,185	1,310	(15,978)
Other non-operating income (loss), net	(911)	(583)	1,040
Interest expense, net	(252)	(299)	(264)
Income (loss) before income taxes	22	428	(15,202)
Provision for income taxes	(600)	(758)	(559)
Net loss	(578)	(330)	(15,761)
Less: Net income (loss) attributable to noncontrolling interests	23	(111)	(5,821)
Net loss attributable to Baker Hughes Company	$ (601)	$ (219)	$ (9,940)
Per share amounts:
Diluted income (loss) per Class A common share (in dollars per share)	$ (0.61)	$ (0.27)	$ (14.73)
Class A Common Stock
Per share amounts:
Basic income (loss) per Class A common share (in dollars per share)	(0.61)	(0.27)	(14.73)
Diluted income (loss) per Class A common share (in dollars per share)	(0.61)	(0.27)	(14.73)
Cash dividends per Class A common share (in dollars per share)	$ 0.73	$ 0.72	$ 0.72
Sales of goods
Revenue:
Revenues	$ 12,236	$ 12,248	$ 12,846
Costs and expenses:
Cost	10,445	10,458	11,383
Sales of services
Revenue:
Revenues	8,920	8,254	7,859
Costs and expenses:
Cost	$ 6,311	$ 5,995	$ 6,123

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (578,000,000)	$ (330,000,000)	$ (15,761,000,000)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation and amortization	1,061,000,000	1,105,000,000	1,317,000,000
Loss on business dispositions	451,000,000	0	353,000,000
Loss (gain) on equity securities	265,000,000	845,000,000	(1,417,000,000)
Stock-based compensation cost	207,000,000	205,000,000	210,000,000
Property, plant and equipment impairment	166,000,000	7,000,000	461,000,000
Inventory impairment	31,000,000	0	246,000,000
Goodwill impairment	0	0	14,773,000,000
Intangible assets impairment	18,000,000	0	729,000,000
Changes in operating assets and liabilities:
Current receivables	(625,000,000)	(126,000,000)	680,000,000
Inventories	(885,000,000)	170,000,000	(80,000,000)
Accounts payable	605,000,000	246,000,000	(711,000,000)
Progress collections and deferred income	1,103,000,000	(72,000,000)	396,000,000
Contract and other deferred assets	(76,000,000)	262,000,000	(69,000,000)
Other operating items, net	145,000,000	62,000,000	177,000,000
Net cash flows from operating activities	1,888,000,000	2,374,000,000	1,304,000,000
Cash flows from investing activities:
Expenditures for capital assets	(989,000,000)	(856,000,000)	(974,000,000)
Proceeds from disposal of assets	217,000,000	315,000,000	187,000,000
Proceeds from business dispositions	0	70,000,000	187,000,000
Net cash paid for acquisitions and business interests	(845,000,000)	(266,000,000)	(57,000,000)
Other investing items, net	53,000,000	274,000,000	39,000,000
Net cash flows used in investing activities	(1,564,000,000)	(463,000,000)	(618,000,000)
Cash flows from financing activities:
Net repayments of short-term debt	(28,000,000)	(41,000,000)	(204,000,000)
Proceeds from the issuance of long-term debt	0	1,250,000,000	500,000,000
Proceeds from (repayment of) commercial paper	0	(832,000,000)	737,000,000
Repayments of long-term debt	0	(1,313,000,000)	(42,000,000)
Dividends paid	(726,000,000)	(592,000,000)	(488,000,000)
Distributions to GE	(17,000,000)	(157,000,000)	(256,000,000)
Repurchase of Class A common stock	(828,000,000)	(434,000,000)	0
Other financing items, net	7,000,000	(24,000,000)	(22,000,000)
Net cash flows from (used in) financing activities	(1,592,000,000)	(2,143,000,000)	225,000,000
Effect of currency exchange rate changes on cash and cash equivalents	(97,000,000)	(47,000,000)	(28,000,000)
Increase (decrease) in cash and cash equivalents	(1,365,000,000)	(279,000,000)	883,000,000
Cash and cash equivalents, beginning of period	3,853,000,000	4,132,000,000	3,249,000,000
Cash and cash equivalents, end of period	$ 2,488,000,000	$ 3,853,000,000	$ 4,132,000,000

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provision for income taxes is comprised of the following:


	2022		2021		2020
Current:
U.S.	$	6	$	11	$	(59)
Foreign	489		614		458
Total current	495		625		399
Deferred:
U.S.	40		(24)		11
Foreign	65		157		149
Total deferred	105		133		160
Provision for income taxes	$	600	$	758	$	559

On August 16, 2022, the U.S. enacted The Inflation Reduction Act which included a number of additional credits and deductions for businesses and individuals. The tax provisions of this law, particularly the adoption of the corporate book minimum tax provision, are not effective until 2023. Currently, the Company does not believe the corporate book minimum tax provision, or any of the other tax provisions, will have a material impact on the Company for 2023, however, we will continue to monitor the future impact to Baker Hughes related to this new law. Further, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), which was enacted on March 27, 2020 in the U.S. in response to the COVID-19 pandemic, contained measures to assist companies, including

allowing net operating losses originating in 2018, 2019, or 2020 to be carried back up to five years. During 2020, we elected to carry back losses to 2014 and accordingly recognized a $117 million tax benefit. We received the cash refunds related to this benefit during 2021.

The geographic sources of income (loss) before income taxes are as follows:


	2022		2021		2020
U.S.	$	(698)	$	(724)	$	(14,288)
Foreign	720		1,152		(914)
Income (loss) before income taxes	$	22	$	428	$	(15,202)

The provision for income taxes differs from the amount computed by applying the U.S. statutory income tax rate to the loss or income before income taxes for the reasons set forth below for the years ended December 31:


	2022			2021			2020
Income (loss) before income taxes	$	22		$	428		$	(15,202)

Taxes at the U.S. federal statutory income tax rate	5			90			(3,192)
Impact of goodwill impairment	—			—			3,102
Effect of foreign operations (1)	338			216			148
Tax expense (benefit) due to unrecognized tax benefits	(7)			201			35
Tax impact of partnership structure	6			137			(33)


Change in valuation allowances	164			70			494
CARES Act	—			—			(117)

Other - net	94			44			122
Provision for income taxes (2)	$	600		$	758		$	559
Actual income tax rate	2,727.3		%	177.1		%	(3.7)		%

(1)For December 31, 2022, $140 million of this amount relates to the charges associated with the sale and suspension of our Russia operations.

(2)For December 31, 2021, $121 million of this amount was previously indemnified under the Tax Matters Agreement with GE of which $119 million was included in tax expense due to unrecognized tax benefits. In December 2022, the Company and GE entered into an agreement to terminate the Tax Matters Agreement. See below for further information.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as operating loss and tax credit carryforwards.

The tax effects of our temporary differences and carryforwards are as follows at December 31:


	2022		2021
Deferred tax assets:
Operating & capital loss carryforwards	$	2,074	$	2,297
Tax credit & other carryforwards	1,087		1,183
Investment in partnership	846		457
Property	128		156
Employee benefits	62		116
Goodwill and other intangibles	46		97
Receivables	94		72
Inventory	52		61
Other	163		111
Total deferred income tax asset	4,552		4,550
Valuation allowances	(4,090)		(3,928)
Total deferred income tax asset after valuation allowance	462		622
Deferred tax liabilities:
Other	(34)		(14)
Total deferred income tax liability	(34)		(14)
Net deferred tax asset	$	428	$	608

At December 31, 2022, we had approximately $399 million of non-U.S. tax credits which may be carried forward indefinitely under applicable foreign law, $542 million of U.S. foreign tax credits and $146 million of other U.S. Federal and state tax credits and other carryforwards, the majority of which will expire after tax year 2027 under U.S. Federal and state tax law. Additionally, we had $1,977 million of net operating loss carryforwards ("NOLs"), of which approximately $301 million will expire within five years, $515 million will expire between six years and 20 years, and the remainder can be carried forward indefinitely. Lastly, we had $97 million of capital loss carryforwards, the majority of which will expire within five years.

We record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. At December 31, 2022, $4,090 million of valuation allowances are recorded against various deferred tax assets, including foreign operating and capital losses of $1,692 million, U.S. operating and capital losses of $116 million, U.S. foreign and non-U.S. tax credit carryforwards of $936 million, other tax credit carryforwards of $109 million, and certain other U.S. and foreign deferred tax assets of $1,237 million. There are $266 million of deferred tax assets related to NOLs and $196 million of various other deferred tax assets without a valuation allowance as we expect that the deferred tax assets will be realized within the carryforward period.

Indefinite reinvestment is determined by management’s intentions concerning the future operations of the Company. In cases where repatriation would otherwise incur significant withholding or income taxes, these earnings have been indefinitely reinvested in the Company's active non-U.S. business operations. As of December 31, 2022, the cumulative amount of undistributed foreign earnings is approximately $3,323 million. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis differences is not practicable.

At December 31, 2022, we had $496 million of tax liabilities for total gross unrecognized tax benefits related to uncertain tax positions. In addition to these uncertain tax positions, we had $127 million and $42 million related to interest and penalties, respectively, for total liabilities of $665 million for uncertain positions. If we were to prevail on all uncertain positions, the net effect would result in an income tax benefit of approximately $584 million. The remaining $81 million is comprised of $61 million for deferred tax assets that represent tax benefits that would be received in different taxing jurisdictions or in a different character and $20 million increased valuation allowances.

The following table presents the changes in our gross unrecognized tax benefits included in the consolidated statements of financial position.


Asset / (Liability)	2022		2021
Balance at beginning of year	$	(531)	$	(483)
Additions for tax positions of the current year	(19)		(32)
Additions for tax positions of prior years	(99)		(166)
Reductions for tax positions of prior years	100		42
Settlements with tax authorities	24		95
Lapse of statute of limitations	29		13
Balance at end of year	$	(496)	$	(531)

It is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes, audit activity, tax payments, and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate. At December 31, 2022, we had approximately $72 million of tax liabilities related to uncertain tax positions, each of which are individually insignificant, and each of which are reasonably possible of being settled within the next twelve months.

We conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate, each of which may have multiple open years subject to examination. All Internal Revenue Service examinations have been completed and closed through 2019 for the most significant U.S. returns. We believe that we have made adequate provision for all income tax uncertainties.

OTHER

In connection with the merger between BHI and the oil and gas business of GE in July 2017, the Company and BHH LLC had entered into a Tax Matters Agreement ("TMA") with GE. The TMA governed the administration and allocation between the parties of tax liabilities and benefits arising prior to, as a result of, and subsequent to the merger, including the respective rights, responsibilities, and obligations of the parties with respect to various other tax matters. In December 2022, the Company and GE entered into an agreement which resulted in the settlement of claims asserted under the TMA and the termination of the TMA. As a result, we recorded a charge of $81 million, of which $21 million was a cash payment to GE. This charge is reported in the "Other non-operating income (loss), net" caption of the consolidated statements of income (loss).

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Employee Benefit Plans - Amounts Recognized in the Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure
Noncurrent liabilities	$ (960)	$ (1,110)
Pension Benefits
Defined Benefit Plan Disclosure
Noncurrent assets	58	109
Current liabilities	(15)	(17)
Noncurrent liabilities	(411)	(495)
Net amount recognized	$ (368)	$ (403)

Equity - Changes in Number of Shares Outstanding (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	530	850	1,553
Issue of shares on exercises of stock options (in shares)	1,661
Common Stock \| Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	909,142	723,999
Issue of shares for employee stock purchase plan (in shares)	2,017	2,510
Exchange of Class B common stock for Class A common stock (in shares)	116,548	194,885
Repurchase and cancellation of Class A common stock (in shares)	(29,694)	(17,628)
Balance at end of year (in shares)	1,005,960	909,142	723,999
Common Stock \| Class A Common Stock \| RSUs
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	6,316	4,968
Common Stock \| Class A Common Stock \| Options
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares on exercises of stock options (in shares)	1,632	408
Common Stock \| Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	116,548	311,433
Issue of shares for employee stock purchase plan (in shares)	0	0
Exchange of Class B common stock for Class A common stock (in shares)	(116,548)	(194,885)
Repurchase and cancellation of Class A common stock (in shares)	0	0
Balance at end of year (in shares)	0	116,548	311,433
Common Stock \| Class B Common Stock \| RSUs
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	0	0
Common Stock \| Class B Common Stock \| Options
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares on exercises of stock options (in shares)	0	0

Restructuring, Impairment and Other

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring, Impairment and Other

RESTRUCTURING, IMPAIRMENT AND OTHER

We recorded restructuring, impairment and other charges of $682 million, $209 million, and $1,866 million during the years ended December 31, 2022, 2021 and 2020, respectively.

RESTRUCTURING AND IMPAIRMENT CHARGES

In 2022, we recorded restructuring and impairment charges of $196 million. In the third quarter of 2022, we announced a restructuring plan in conjunction with a change in our operating segments that was effective October 1, 2022. As a result, we incurred charges primarily related to employee termination expenses driven by actions taken by the Company to facilitate the reorganization into two segments. In addition, property, plant and equipment ("PP&E") impairments and other costs were recorded related to exit activities at specific locations in our OFSE segment to align with our current market outlook and rationalize our manufacturing supply chain footprint. See "Note 17. Segment Information" for further information on the change in segments. We expect to incur additional charges of approximately $100 million in 2023 in connection with our restructuring plan initiated in 2022, and currently expect this plan to come to completion by the end of 2023.

In 2021, we recorded restructuring and impairment charges totaling $138 million. Charges incurred were primarily related to the continuation of our overall strategy to restructure our business, which is designed to optimize our structural costs for the year-over-year change in activity levels and market conditions.

In 2020, in response to the impact on our business from the COVID-19 pandemic and the significant decline in oil and gas prices, we recorded restructuring and impairment charges totaling $903 million. Charges incurred were primarily related to rationalizing certain product lines and restructuring our business to right-size our operations and to address the challenging market conditions in the upstream oil and gas market.

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


	2022		2021		2020
Oilfield Services & Equipment	$	121	$	121	$	800
Industrial & Energy Technology	36		11		89
Corporate	39		6		14
Total	$	196	$	138	$	903

The following table presents restructuring and impairment charges by type:


	2022		2021		2020
Property, plant and equipment	$	58	$	7	$	385
Employee-related termination expenses	121		99		464
Asset relocation costs	3		20		15

Contract termination fees	1		2		23
Other incremental costs	13		10		16
Total	$	196	$	138	$	903

OTHER CHARGES

Other charges included in the "Restructuring, impairment and other" caption in the consolidated statements of income (loss) were $486 million, $71 million, and $963 million for the years ended December 31, 2022, 2021 and 2020, respectively.

In 2022, other charges were primarily associated with our Russia operations. As a result of the ongoing conflict between Russia and Ukraine that began in February of 2022, governments in the U.S., United Kingdom, European Union, and other countries enacted sanctions against Russia and certain Russian interests. On March 19, 2022, we

suspended any new investments in our Russia operations, but continued to comply with applicable laws and regulations as we fulfilled contractual obligations. Over the course of the second quarter of 2022, we closely monitored the developments in Ukraine and Russia and changes to sanctions all of which continued to make ongoing operations increasingly complex and significantly more challenging. As a result, in the second quarter of 2022, we committed to a plan to sell part of our OFSE Russia business. The sale was completed in the fourth quarter of 2022. See “Note 21. Business Dispositions and Acquisitions” for further information. In addition, given that some of our activities are prohibited under applicable sanctions and almost all of our activities are unsustainable in the current environment, we took actions to suspend substantially all of our operational activities related to Russia. These actions resulted in other charges of $334 million recorded in the second quarter of 2022 primarily associated with the suspension of contracts including all our IET LNG contracts, and the impairment of assets consisting primarily of contract assets, PP&E and reserve for accounts receivable. In addition to these charges, we recorded inventory impairments of $31 million primarily in IET as a result of suspending our Russia operations, which are reported in the “Cost of goods sold” caption in the consolidated statements of income (loss).

During 2022, we also recorded other charges of $84 million in our OFSE segment primarily related to the impairment of PP&E and intangibles for the SPS business due to a decrease in the estimated future cash flows driven by a decline in our long-term market outlook for this business, and $68 million in our IET segment primarily related to a write-off of an equity method investment and the release of foreign currency translation adjustments.

In 2021, other charges were primarily related to certain litigation matters in our IET segment and the release of foreign currency translation adjustments for certain restructured product lines in our IET segment.

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

Current Receivables

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Current Receivables

CURRENT RECEIVABLES

Current receivables are comprised of the following at December 31:


	2022		2021
Customer receivables	$	5,083	$	4,724
Related parties	—		481
Other	1,216		846
Total current receivables	6,299		6,051
Less: Allowance for credit losses	(341)		(400)
Total current receivables, net	$	5,958	$	5,651

Customer receivables are recorded at the invoiced amount. Related parties as of December 31, 2021 consists of amounts owed to us primarily by GE. As of June 30, 2022, GE is no longer considered a related party. See "Note 18. Related Party Transactions" for further information. The "Other" category consists primarily of advance payments to suppliers, indirect taxes, and customer retentions.

Revenue Related to Contracts With Customers - Schedule of Disaggregated Segment Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 21,156	$ 20,502	$ 20,705
Oilfield Services & Equipment
Disaggregation of Revenue [Line Items]
Revenues	13,229	12,028	12,984
Oilfield Services & Equipment \| North America
Disaggregation of Revenue [Line Items]
Revenues	3,764	2,904	3,107
Oilfield Services & Equipment \| Latin America
Disaggregation of Revenue [Line Items]
Revenues	2,099	1,681	1,447
Oilfield Services & Equipment \| Europe/CIS/Sub-Saharan Africa
Disaggregation of Revenue [Line Items]
Revenues	2,483	2,865	2,846
Oilfield Services & Equipment \| Middle East/Asia
Disaggregation of Revenue [Line Items]
Revenues	4,883	4,579	5,584
Oilfield Services & Equipment \| Well Construction
Disaggregation of Revenue [Line Items]
Revenues	3,854	3,301	3,257
Oilfield Services & Equipment \| Completions, Intervention & Measurements
Disaggregation of Revenue [Line Items]
Revenues	3,559	3,106	3,614
Oilfield Services & Equipment \| Production Solutions
Disaggregation of Revenue [Line Items]
Revenues	3,587	3,135	3,269
Oilfield Services & Equipment \| Subsea & Surface Pressure Systems
Disaggregation of Revenue [Line Items]
Revenues	2,230	2,486	2,844
Industrial & Energy Technology
Disaggregation of Revenue [Line Items]
Revenues	7,926	8,473	7,721
Industrial & Energy Technology \| Gas Technology - Equipment
Disaggregation of Revenue [Line Items]
Revenues	2,560	2,916	2,421
Industrial & Energy Technology \| Gas Technology - Services
Disaggregation of Revenue [Line Items]
Revenues	2,441	2,700	2,475
Industrial & Energy Technology \| Total Gas Technology
Disaggregation of Revenue [Line Items]
Revenues	5,002	5,616	4,896
Industrial & Energy Technology \| Condition Monitoring
Disaggregation of Revenue [Line Items]
Revenues	545	562	581
Industrial & Energy Technology \| Inspection
Disaggregation of Revenue [Line Items]
Revenues	995	949	865
Industrial & Energy Technology \| Pumps, Valves & Gears
Disaggregation of Revenue [Line Items]
Revenues	826	801	809
Industrial & Energy Technology \| PSI & Controls
Disaggregation of Revenue [Line Items]
Revenues	559	546	570
Industrial & Energy Technology \| Total Industrial Technology
Disaggregation of Revenue [Line Items]
Revenues	$ 2,925	$ 2,857	$ 2,824

Current Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	$ 6,299	$ 6,051
Less: Allowance for credit losses	(341)	(400)
Total current receivables, net	5,958	5,651
Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	5,083	4,724
Related parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	0	481
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	$ 1,216	$ 846

Financial Instruments

12 Months Ended

Dec. 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 consist of derivative instruments and investment securities.


	2022								2021
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	18	$	—	$	18	$	—	$	29	$	—	$	29
Investment securities	748		—		—		748		1,033		—		8		1,041
Total assets	748		18		—		766		1,033		29		8		1,070

Liabilities
Derivatives	—		(86)		—		(86)		—		(49)		—		(49)
Total liabilities	$	—	$	(86)	$	—	$	(86)	$	—	$	(49)	$	—	$	(49)

There were no transfers between Level 1, 2 and 3 during 2022.

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


	2022		2021
Balance at beginning of year	$	8	$	30

Proceeds at maturity	(8)		(22)

Balance at end of year	$	—	$	8

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 consolidated statements of income (loss) on account of any Level 3 instrument still held at the reporting date.


	2022								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 (1)
Non-U.S. debt securities	$	—	$	—	$	—	$	—	$	8	$	—	$	—	$	8
Equity securities	557		191		—		748		579		455		(1)		1,033
Total	$	557	$	191	$	—	$	748	$	587	$	455	$	(1)	$	1,041

(1)Gains (losses) recorded to earnings related to these securities were $(271) million, $(843) million and $1.4 billion for the years ended December 31, 2022, 2021, and 2020, respectively.

As of December 31, 2022 and 2021, our equity securities with readily determinable fair values are comprised primarily of our investment in C3.ai, Inc. ("C3 AI") of $97 million and $270 million, respectively, and ADNOC Drilling of $649 million and $741 million, respectively. We remeasured our investments to fair value based on quoted prices in active markets.

At December 31, 2022 and 2021, our investment in C3 AI consists of 8,650,476 shares of Class A common stock ("C3 AI Shares"). There were no C3 AI Shares sold during 2022. During 2021, we sold approximately 2.2 million of our C3 AI shares and received proceeds of $145 million. For the years ended December 31, 2022 and 2021, we recorded unrealized losses of $174 million and $1,085 million, respectively, from the net change in fair value of our investment in C3 AI, which is reported in “Other non-operating income (loss), net” in our consolidated statements of income (loss).

At December 31, 2022 and 2021, our investment in ADNOC Drilling consists of 800,000,000 shares. For the years ended December 31, 2022 and 2021, we recorded an unrealized loss of $91 million and an unrealized gain of $241 million, respectively, from the net change in fair value of our investment in ADNOC Drilling, which is reported in “Other non-operating income (loss), net” in our consolidated statements of income (loss).

As of December 31, 2022 and 2021, $748 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 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 at December 31, 2022 and 2021 approximates their carrying value as reflected in our 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.


	2022				2021
	Assets		(Liabilities)		Assets		(Liabilities)
Derivatives accounted for as hedges
Currency exchange contracts	$	1	$	—	$	—	$	(3)
Interest rate swap contracts	—		(69)		—		(10)

Derivatives not accounted for as hedges
Currency exchange contracts and other	17		(17)		29		(36)
Total derivatives	$	18	$	(86)	$	29	$	(49)

Derivatives are classified in the consolidated statements of financial position depending on their respective maturity date. As of December 31, 2022 and 2021, $17 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 consolidated statements of financial position, respectively. As of December 31, 2022 and 2021, $17 million and $39 million of derivative liabilities are recorded in "All other current liabilities" and $69 million and $10 million are recorded in "All other liabilities" of the 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 13. Equity" for further information on activity in AOCI for cash flow hedges. The maximum term of cash flow hedges that hedge forecasted transactions was less than one year at December 31, 2022 and 2021.

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 December 31, 2022 and 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 consolidated statements of income (loss):


Derivatives not designated as hedging instruments	Consolidated statements of income (loss) caption	2022		2021		2020
Currency exchange contracts (1)	Cost of goods sold	$	24	$	(9)	$	59
Currency exchange contracts	Cost of services sold	18		5		62
Commodity derivatives	Cost of goods sold	(6)		1		2
Other derivatives	Other non-operating income (loss), net	2		—		8
Total (2)		$	38	$	(3)	$	131

(1)Excludes a loss of nil, gains of $7 million and losses of $14 million on embedded derivatives for the years ended December 31, 2022, 2021 and 2020, respectively, as embedded derivatives are not considered to be hedging instruments in our economic hedges.

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

NOTIONAL AMOUNT OF DERIVATIVES

The notional amount of a derivative is the number of units of the underlying. A substantial majority of the outstanding notional amount of $3.8 billion and $3.9 billion at December 31, 2022 and 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.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

The Company has the Long-Term Incentive Plan ("LTI Plan") under which we may grant restricted stock units ("RSU"), performance share units ("PSU"), stock options and other equity-based awards to employees and non-employee directors providing services to the Company and our subsidiaries. The Company also provides an Employee Stock Purchase Plan ("ESPP") for eligible employees. A total of up to 29.5 million shares of Class A common stock are reserved and available for issuance pursuant to awards granted under the LTI Plan over its term which expires on the date of the annual meeting of the Company in 2031. A total of 27.8 million shares of Class A common stock are available for issuance as of December 31, 2022. This amount includes 20.2 million shares remaining from the initial reserve and 7.6 million shares added due to forfeitures, cancellations, and shares withheld to pay the employee's taxes, subject to the adjustments as provided in the LTI Plan.

Stock-based compensation cost was $207 million, $205 million and $210 million for the years ended December 31, 2022, 2021 and 2020, respectively. Stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant. The compensation cost is determined based on awards ultimately expected to vest; therefore, we have reduced the cost for estimated forfeitures based on historical forfeiture rates. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods to reflect actual forfeitures. There were no stock-based compensation costs capitalized as the amounts were not material.

Restricted Stock

We may grant to our officers, directors and key employees RSUs, where each unit represents the right to receive, at the end of a stipulated period, one unrestricted share of stock with no exercise price. Certain RSUs are subject to cliff or graded vesting, generally ranging over a period of three years, or over a one year period for non-employee directors. Cash dividend equivalents are accumulated on RSUs and are payable upon vesting of the awards. We determine the fair value of RSUs based on the market price of our common stock on the date of grant.

The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices):


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested balance at December 31, 2021	16,035	$	21.50
Granted	7,203	27.90
Vested	(7,719)	21.99
Forfeited	(1,177)	23.59
Unvested balance at December 31, 2022	14,342	$	24.31

In 2022, the total intrinsic value of RSUs vested (defined as the value of shares awarded based on the price of our common stock at vesting date) was $210 million and unvested RSUs was $424 million. The total grant date fair value of RSUs vested in 2022 was $170 million. As of December 31, 2022, there was $181 million of total unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted average period of 1.77 years.

Performance Share Units

We may grant PSUs to certain officers and key employees. The PSUs are stock-based awards tied to predefined company metrics and total shareholder return ("TSR"). PSUs generally cliff vest after a service period of three years. Cash dividend equivalents are accumulated on certain PSUs and are payable upon vesting of the awards. The fair value of the awards determined for the predefined company metrics are based on the market price of our common stock on the date of grant. The fair value of the TSR awards are determined based on a Monte Carlo simulation method.

The following table presents the changes in PSUs outstanding and related information (in thousands, except per unit prices):


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested balance at December 31, 2021	3,702	$	22.57
Granted	1,380	30.76
Vested	(1,268)	22.70
Forfeited	(290)	24.64
Unvested balance at December 31, 2022	3,525	$	25.56

The total intrinsic value of PSUs vested and unvested, (defined as the value of the shares awarded at the year-end market price) was $44 million and $104 million, respectively, as of December 31, 2022. The total grant date fair value of PSUs vested in 2022 was $29 million. Total unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted average period of 1.69 years, was $34 million as of December 31, 2022.

Stock Options

We previously granted stock options to our officers, directors and key employees. Stock options generally vest in equal amounts over a vesting period of three years provided that the employee has remained continuously employed by the Company through such vesting date. We have not granted stock options to officers, directors, or key employees since 2019.

The following table presents the changes in stock options outstanding and related information (in thousands, except per option prices):


	Number of Options	Weighted Average Exercise Price Per Option
Outstanding at December 31, 2021	5,249	$	31.25

Exercised	(1,661)	25.82

Expired	(681)	36.97
Outstanding and exercisable at December 31, 2022	2,907	$	33.02

The weighted average remaining contractual term for options outstanding and options exercisable at December 31, 2022 was 4.3 years. The maximum contractual term of options outstanding is 6.1 years.

There were 530 thousand, 850 thousand and 1,553 thousand options that vested in 2022, 2021 and 2020, respectively. The total fair value of options vested was $3 million, $7 million and $14 million, in 2022, 2021 and 2020, respectively. Unrecognized compensation cost related to unvested stock options was immaterial as of December 31, 2022.

The total intrinsic value of stock options exercised (defined as the amount by which the market price of our common stock on the date of exercise exceeds the exercise price of the option) in 2022 was $12 million. The total intrinsic value of stock options outstanding and options exercisable at December 31, 2022 was $5 million. The intrinsic value of stock options outstanding is calculated as the amount by which the quoted price of $29.53 of our common stock as of the end of 2022 exceeds the exercise price of the options.

Employee Stock Purchase Plan

The ESPP provides for eligible employees to purchase shares of Class A common stock quarterly on an after-tax basis in an amount between 1% and 20% of their annual pay at a 15% discount of the fair market value of our Class A common stock at the end of each quarterly offering period. An employee may not purchase more than $3,000 in any of the three-month measurement periods described above or $12,000 annually.

A total of 21.5 million shares of Class A common stock are authorized for issuance, and at December 31, 2022, there were 10.5 million shares of Class A common stock reserved for future issuance.

Inventories (Details) - USD ($)	12 Months Ended
Inventories (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventory, Net [Abstract]
Inventory valuation reserves	$ 396,000,000	$ 374,000,000
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished goods	2,419,000,000	2,228,000,000
Work in process and raw materials	2,168,000,000	1,751,000,000
Total inventories, net	4,587,000,000	3,979,000,000
Inventory impairment	$ 31,000,000	$ 0	$ 246,000,000

Current Receivables (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Schedule of Current Receivables

Current receivables are comprised of the following at December 31:


	2022		2021
Customer receivables	$	5,083	$	4,724
Related parties	—		481
Other	1,216		846
Total current receivables	6,299		6,051
Less: Allowance for credit losses	(341)		(400)
Total current receivables, net	$	5,958	$	5,651

The change in allowance for credit losses is as follows:


	2022		2021
Balance at beginning of year	$	400	$	373
Provision	69		111
Write-offs	(34)		(23)
Prior year recoveries	(44)		(39)
Other	(50)		(22)
Balance at end of year	$	341	$	400

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are comprised of the following at December 31:


	Useful Life	2022		2021
Land and improvements (1)	8 - 20 years (1)	$	347	$	350
Buildings, structures and related equipment	5 - 40 years	2,120		2,271
Machinery, equipment and other	2 - 20 years	7,192		7,259
Total cost		9,659		9,880
Less: Accumulated depreciation		(5,121)		(5,003)
Property, plant and equipment, less accumulated depreciation		$	4,538	$	4,877

(1)Useful life excludes land.

Depreciation expense relating to property, plant and equipment was $839 million, $852 million and $1,009 million for the years ended December 31, 2022, 2021 and 2020, respectively. See "Note 20. Restructuring, Impairment and Other" for additional information on property, plant and equipment impairments.

Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company's segments are determined as those operations whose results are reviewed regularly by the chief operating decision maker ("CODM"), who is our Chief Executive Officer, in deciding how to allocate resources and assess performance. Each segment is organized and managed based upon the nature of our markets and customers and consist of similar products and services.

In the third quarter of 2022, we announced a reorganization of the Company to create two operating segments focused on different growth profiles and designed to simplify our operations and enhance profitability. Effective

October 1, 2022, the two operating segments, also our reportable segments, are Oilfield Services & Equipment (“OFSE”) and Industrial & Energy Technology (“IET”). The financial information for 2021 and 2020 have been recast to conform to the new segment presentation.

We previously operated the Company through four segments. Through this reorganization, we merged the Oilfield Services segment with the Oilfield Equipment segment to form the OFSE segment, and we merged the Turbomachinery & Process Solutions segment with the Digital Solutions segment to form the IET segment. We believe the new structure will allow each segment to better adapt to the quickly changing energy markets, and by removing certain management layers, will upgrade a number of key operational processes across our businesses and enhance their economies of scale. The following is a description of each segment’s business operations:

Oilfield Services & Equipment provides products and services for onshore and offshore oilfield operations across the lifecycle of a well, ranging from exploration, appraisal, and development, to production, rejuvenation, and decommissioning. OFSE is organized into four product lines: Well Construction, which encompasses drilling services, drill bits, and drilling & completions fluids; Completions, Intervention, and Measurements, which encompasses well completions, pressure pumping, and wireline services; Production Solutions, which spans artificial lift systems and oilfield & industrial chemicals, and Subsea & Surface Pressure Systems, which encompasses subsea projects services and drilling systems, surface pressure control, and flexible pipe systems. Beyond its traditional oilfield concentration, OFSE is expanding its capabilities and technology portfolio to meet the challenges of a net-zero future. These efforts include expanding into new energy areas such as geothermal and CCUS, strengthening its digital architecture and addressing key energy market themes.

Industrial & Energy Technology provides technology solutions and services for mechanical-drive, compression and power-generation applications across the energy industry, including oil and gas, liquefied natural gas ("LNG") operations, downstream refining and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors. IET also provides equipment, software, and services that serve a wide range of industries including petrochemical and refining, nuclear, aviation, automotive, mining, cement, metals, pulp and paper, and food and beverage. IET is organized into six product lines - Gas Technology Equipment and Gas Technology Services, collectively referred to as Gas Technology, and Condition Monitoring, Inspection, Pumps Valves & Gears, and PSI & Controls, collectively referred to as Industrial Technology.

Segment revenue and operating income are determined based on the internal performance measures used by the CODM to assess the performance of each segment in a financial period. The performance of our operating segments is evaluated based on segment operating income (loss), which is defined as income (loss) before income taxes before the following: net interest expense, net other non-operating income (loss), corporate expenses, restructuring, impairment and other charges, separation related costs, inventory impairments, goodwill impairments and certain gains and losses not allocated to the operating segments. Consistent accounting policies have been applied by all segments, for all reporting periods. Intercompany revenue and expense amounts have been eliminated within each segment to report on the basis that management uses internally for evaluating segment performance. Summarized financial information for the Company's segments is shown in the following tables.


Segment revenue	2022		2021		2020
Oilfield Services & Equipment	$	13,229	$	12,028	$	12,984
Industrial & Energy Technology	7,926		8,473		7,721
Total	$	21,156	$	20,502	$	20,705


Segment income (loss) before income taxes	2022		2021		2020
Oilfield Services & Equipment	$	1,201	$	830	$	506
Industrial & Energy Technology	1,135		1,177		998
Total segment	2,336		2,006		1,504
Corporate	(416)		(429)		(464)
Inventory impairment (1)	(31)		—		(246)
Goodwill impairment	—		—		(14,773)
Restructuring, impairment and other	(682)		(209)		(1,866)
Separation related	(23)		(60)		(134)
Other non-operating income (loss), net	(911)		(583)		1,040
Interest expense, net	(252)		(299)		(264)
Income (loss) before income taxes	$	22	$	428	$	(15,202)

(1)Inventory impairments are reported in the "Cost of goods sold" caption of the consolidated statements of income (loss).

The following table presents total assets by segment at December 31:


Segment assets	2022		2021
Oilfield Services & Equipment	$	17,181	$	17,950
Industrial & Energy Technology	12,286		11,480
Total segment	29,467		29,430
Corporate and eliminations (1)	4,714		5,878
Total	$	34,181	$	35,308

(1)The assets in Corporate and eliminations consist primarily of cash, the Baker Hughes trade name, our investment in C3 AI, certain facilities, and certain other noncurrent assets. It also includes adjustments to eliminate intercompany investments and receivables reflected within the total assets of each of our reportable segments.

The following table presents depreciation and amortization by segment:


Segment depreciation and amortization	2022		2021		2020
Oilfield Services & Equipment	$	845	$	874	$	1,072
Industrial & Energy Technology	197		208		216
Total Segment	1,042		1,082		1,288
Corporate	19		23		29
Total	$	1,061	$	1,105	$	1,317

The following table presents capital expenditures by segment:


Segment capital expenditures	2022		2021		2020
Oilfield Services & Equipment	$	791	$	659	$	743
Industrial & Energy Technology	183		182		196
Total Segment	974		841		939
Corporate	15		15		35
Total	$	989	$	856	$	974

The following table presents consolidated revenue based on the location to where the product is shipped or the services are performed. Other than the U.S., no other country accounted for more than 10% of our consolidated revenue during the periods presented.


Revenue	2022		2021		2020
U.S.	$	4,942	$	4,497	$	4,638
Non-U.S.	16,214		16,005		16,067
Total	$	21,156	$	20,502	$	20,705

The following table presents net property, plant and equipment by its geographic location at December 31:


Property, plant and equipment - net	2022		2021
U.S.	$	1,554	$	1,651
Non-U.S.	2,984		3,226
Total	$	4,538	$	4,877

- 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

Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions					1 Months Ended	12 Months Ended
	May 29, 2020 USD ($)	Mar. 03, 2020 USD ($)	Mar. 18, 2019 USD ($)	Mar. 15, 2019 USD ($)	Jan. 31, 2013	Dec. 31, 2022 EUR (€) subsidiary company	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Environmental loss contingencies							$ 1.0
Total, off-balance sheet liability							4,500.0
Purchase obligations, within next twelve months							1,584.0
Purchase obligations, year two							377.0
Purchase obligations, year three							267.0
Purchase obligations, year four							119.0
Purchase obligations, year five							113.0
Purchase obligations, thereafter							$ 31.0
Pending litigation \| INOES and Naphtachimie \| Damage from fire
Loss Contingencies [Line Items]
Plant shutdown days					15 days
Damages sought \| €						€ 250
Subsidiaries participating \| subsidiary						2
Other companies participating \| company						17
Pending litigation \| IEC \| Lost profits and various costs
Loss Contingencies [Line Items]
Damages sought	$ 235.0	$ 244.9		$ 591.0
Pending litigation \| IEC \| Loss of cash flow
Loss Contingencies [Line Items]
Damages sought		700.0
Pending litigation \| IEC \| Liquidated damages
Loss Contingencies [Line Items]
Damages sought		4.8
Pending litigation \| IEC \| Take-or-pay future obligations
Loss Contingencies [Line Items]
Damages sought		$ 58.6
Pending litigation \| IEC \| Legal fees
Loss Contingencies [Line Items]
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

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) per Share

Basic and diluted net income (loss) per share of Class A common stock is presented below:


(In millions, except per share amounts)	2022		2021		2020
Net loss	$	(578)	$	(330)	$	(15,761)

Less: Net income (loss) attributable to noncontrolling interests	23		(111)		(5,821)
Net loss attributable to Baker Hughes Company	$	(601)	$	(219)	$	(9,940)

Weighted average shares outstanding:
Class A basic & diluted	987		824		675

Net loss per share attributable to common stockholders:
Class A basic & diluted	$	(0.61)	$	(0.27)	$	(14.73)

Financial Instruments (Tables)

12 Months Ended

Dec. 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 consist of derivative instruments and investment securities.


	2022								2021
	Level 1		Level 2		Level 3		Net Balance		Level 1		Level 2		Level 3		Net Balance
Assets
Derivatives	$	—	$	18	$	—	$	18	$	—	$	29	$	—	$	29
Investment securities	748		—		—		748		1,033		—		8		1,041
Total assets	748		18		—		766		1,033		29		8		1,070

Liabilities
Derivatives	—		(86)		—		(86)		—		(49)		—		(49)
Total liabilities	$	—	$	(86)	$	—	$	(86)	$	—	$	(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 beginning of year	$	8	$	30

Proceeds at maturity	(8)		(22)

Balance at end of year	$	—	$	8

Schedule of Investment Securities Classified as Available for Sale


	2022								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 (1)
Non-U.S. debt securities	$	—	$	—	$	—	$	—	$	8	$	—	$	—	$	8
Equity securities	557		191		—		748		579		455		(1)		1,033
Total	$	557	$	191	$	—	$	748	$	587	$	455	$	(1)	$	1,041

(1)Gains (losses) recorded to earnings related to these securities were $(271) million, $(843) million and $1.4 billion for the years ended December 31, 2022, 2021, and 2020, respectively.

Schedule of Derivatives

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


	2022				2021
	Assets		(Liabilities)		Assets		(Liabilities)
Derivatives accounted for as hedges
Currency exchange contracts	$	1	$	—	$	—	$	(3)
Interest rate swap contracts	—		(69)		—		(10)

Derivatives not accounted for as hedges
Currency exchange contracts and other	17		(17)		29		(36)
Total derivatives	$	18	$	(86)	$	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 consolidated statements of income (loss):


Derivatives not designated as hedging instruments	Consolidated statements of income (loss) caption	2022		2021		2020
Currency exchange contracts (1)	Cost of goods sold	$	24	$	(9)	$	59
Currency exchange contracts	Cost of services sold	18		5		62
Commodity derivatives	Cost of goods sold	(6)		1		2
Other derivatives	Other non-operating income (loss), net	2		—		8
Total (2)		$	38	$	(3)	$	131

(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

Businesses Held for Sale

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Businesses Held for Sale

BUSINESS HELD FOR SALE

The Company classifies assets and liabilities as held for sale (“disposal group”) when management commits to a plan to sell the disposal group and concludes that it meets the relevant criteria. Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. Conversely, gains are not recognized until the date of sale.

In July 2022, we entered into an agreement with GE to sell Nexus Controls, a business in our IET segment, specializing in scalable industrial controls systems, safety systems, hardware, and software cybersecurity solutions and services. Based on preliminary estimates, the carrying value is expected to approximate the fair value of the business, less costs to sell. We expect to complete the sale in mid-2023 subject to customary conditions, including regulatory approvals.

The following table presents financial information related to the assets and liabilities of our Nexus Controls business classified as held for sale and reported in “All other current assets” and “All other current liabilities” in our consolidated statements of financial position as of December 31, 2022.


Assets and liabilities of business held for sale	Nexus Controls
Assets
Current receivables	$	59

Inventories	36
Property, plant and equipment	2
Goodwill	230
Other assets	10

Total assets of business held for sale	337

Liabilities

Accounts payable	30
All other current liabilities	56
Other liabilities	7
Total liabilities of business held for sale	93
Total net assets of business held for sale	$	244

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total cost	$ 9,659	$ 9,880
Less: Accumulated depreciation	(5,121)	(5,003)
Property, plant and equipment, less accumulated depreciation	4,538	4,877
Depreciation expense	839	852	$ 1,009
Land and improvements
Property, Plant and Equipment [Line Items]
Total cost	347	350
Buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Total cost	2,120	2,271
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Total cost	$ 7,192	$ 7,259
Minimum \| Land and improvements
Property, Plant and Equipment [Line Items]
Useful Life	8 years
Minimum \| Buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Minimum \| Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Useful Life	2 years
Maximum \| Land and improvements
Property, Plant and Equipment [Line Items]
Useful Life	20 years
Maximum \| Buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Useful Life	40 years
Maximum \| Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Useful Life	20 years

Employee Benefit Plans - Reconciliation to Accumulated Other Comprehensive Loss (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial loss	$ 348	$ 365
Net prior service cost	15	17
Total	$ 363	$ 382

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Operating Lease Expense

The following table presents operating lease expense:


Operating Lease Expense	2022		2021		2020
Long-term fixed lease	$	254	$	255	$	288
Long-term variable lease	48		32		25
Short-term lease (1)	477		440		477
Total operating lease expense	$	779	$	727	$	790

(1)Leases with a term of one year or less, including leases with a term of one month or less.

Schedule of Maturities of Lease Liabilities, Operating Leases

As of December 31, 2022, maturities of our operating lease liabilities are as follows:


Year	Operating Leases
2023	$	214
2024	175
2025	119
2026	91
2027	58
Thereafter	203
Total lease payments	860
Less: imputed interest	119
Total	$	741

Schedule of Liabilities

Amounts recognized in the consolidated statements of financial position for operating leases are as follows:


	2022		2021
All other current liabilities	$	189	$	196
All other liabilities	552		624


Total	$	741	$	820

Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic and diluted net income (loss) per share of Class A common stock is presented below:


(In millions, except per share amounts)	2022		2021		2020
Net loss	$	(578)	$	(330)	$	(15,761)

Less: Net income (loss) attributable to noncontrolling interests	23		(111)		(5,821)
Net loss attributable to Baker Hughes Company	$	(601)	$	(219)	$	(9,940)

Weighted average shares outstanding:
Class A basic & diluted	987		824		675

Net loss per share attributable to common stockholders:
Class A basic & diluted	$	(0.61)	$	(0.27)	$	(14.73)

Shares of our Class B common stock do not share in earnings or losses of the Company and are not considered in the calculation of basic or diluted earnings per share ("EPS") above. As such, separate presentation of basic and diluted EPS of Class B under the two class method has not been presented. The basic weighted average shares outstanding for our Class B common stock were 30 million, 215 million, and 359 million for the years ended December 31, 2022, 2021 and 2020, respectively. The basic weighted average shares outstanding for both our Class A and Class B common stock combined were 1,017 million, 1,039 million, and 1,034 million for the years ended December 31, 2022, 2021 and 2020, respectively.

An exchange agreement existed between GE, BHH LLC, and us, ("Exchange Agreement") where GE was entitled to exchange its holding in our Class B common stock, and associated LLC Units, for Class A common stock on a one-for-one basis (subject to adjustment in accordance with the terms of the Exchange Agreement) or, at the option of Baker Hughes, an amount of cash equal to the aggregate value (determined in accordance with the terms of the Exchange Agreement) of the shares of Class A common stock that would have otherwise been received by GE in the exchange. In computing the dilutive effect, if any, that the aforementioned exchange would have on net income (loss) per share, net income (loss) attributable to holders of Class A common stock would be adjusted due to the elimination of the noncontrolling interests associated with the Class B common stock (including any tax impact). For the three years ended December 31, 2022, 2021 and 2020, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive. As of December 31, 2022, GE no longer holds any of our Class B common stock and associated LLC Units. See "Note 13. Equity" for further information.

For the years ended December 31, 2022, 2021, and 2020 we excluded all outstanding equity awards from the computation of diluted net loss per share because their effect is antidilutive.

Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2022

Other Liabilities Disclosure [Abstract]

Schedule of Allowance for Credit Losses

Current receivables are comprised of the following at December 31:


	2022		2021
Customer receivables	$	5,083	$	4,724
Related parties	—		481
Other	1,216		846
Total current receivables	6,299		6,051
Less: Allowance for credit losses	(341)		(400)
Total current receivables, net	$	5,958	$	5,651

The change in allowance for credit losses is as follows:


	2022		2021
Balance at beginning of year	$	400	$	373
Provision	69		111
Write-offs	(34)		(23)
Prior year recoveries	(44)		(39)
Other	(50)		(22)
Balance at end of year	$	341	$	400

Schedule of Cash Flow Supplemental Disclosures

Supplemental cash flow disclosures are as follows for the years ended December 31:


	2022		2021		2020
Income taxes paid, net of refunds	$	498	$	314	$	441
Interest paid	$	291	$	305	$	289

Business Dispositions And Acquisitions (Details) - USD ($) $ in Millions	1 Months Ended				3 Months Ended	12 Months Ended
	Nov. 30, 2022	Oct. 31, 2021	Oct. 31, 2020	Jun. 30, 2020	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]						Operating Income (Loss)
Goodwill						$ 5,930	$ 5,959	$ 5,977
Joint Venture Company
Business Acquisition [Line Items]
Approximate interest to be acquired		50.00%
Payments to acquire membership interest		$ 70
Promissory note		$ 80
Several acquisitions
Business Acquisition [Line Items]
Total purchase consideration						767
Goodwill						458
Intangible assets						211
Cash Acquired from Acquisition						$ 50
Sale \| Oilfield Services & Equipment
Business Acquisition [Line Items]
Loss					$ (426)
Other non operating income (loss) resulted from sale	$ 25
Sale \| Surface Pressure Control Flow (SPC Flow)
Business Acquisition [Line Items]
Other non operating income (loss) resulted from sale			$ 137
Sale \| Rod Lift Systems (RLS)
Business Acquisition [Line Items]
Other non operating income (loss) resulted from sale				$ 216

Earnings Per Share - Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share
Net loss	$ (578)	$ (330)	$ (15,761)
Less: Net income (loss) attributable to noncontrolling interests	23	(111)	(5,821)
Net loss attributable to Baker Hughes Company	$ (601)	$ (219)	$ (9,940)
Net loss per share attributable to common stockholders:
Class A diluted (in dollars per share)	$ (0.61)	$ (0.27)	$ (14.73)
Class A Common Stock
Weighted average shares outstanding:
Class A basic (in shares)	987	824	675
Class A diluted (in shares)	987	824	675
Net loss per share attributable to common stockholders:
Class A basic (in dollars per share)	$ (0.61)	$ (0.27)	$ (14.73)
Class A diluted (in dollars per share)	$ (0.61)	$ (0.27)	$ (14.73)

Earnings Per Share - Narrative (Details) shares in Millions	12 Months Ended
Earnings Per Share - Narrative (Details) shares in Millions	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Class B Common Stock
Class of Stock [Line Items]
Basic weighted average shares outstanding (in shares)	30	215	359
Common Class A and B
Class of Stock [Line Items]
Basic weighted average shares outstanding (in shares)	1,017	1,039	1,034
Class A Common Stock
Class of Stock [Line Items]
Basic weighted average shares outstanding (in shares)	987	824	675
Conversion ratio	1

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 2,488	$ 3,853
Current receivables, net	5,958	5,651
Inventories, net	4,587	3,979
All other current assets	1,559	1,582
Total current assets	14,592	15,065
Property, plant and equipment, less accumulated depreciation	4,538	4,877
Goodwill	5,930	5,959
Other intangible assets, net	4,180	4,131
Contract and other deferred assets	1,503	1,598
All other assets	2,781	2,943
Deferred income taxes	657	735
Total assets	34,181	35,308
Current Liabilities:
Accounts payable	4,298	3,745
Short-term debt and current portion of long-term debt	677	40
Progress collections and deferred income	3,822	3,232
All other current liabilities	2,278	2,111
Total current liabilities	11,075	9,128
Long-term debt	5,980	6,687
Deferred income taxes	229	127
Liabilities for pensions and other postretirement benefits	960	1,110
All other liabilities	1,412	1,510
Equity:
Capital in excess of par value	28,126	27,375
Retained loss	(10,761)	(10,160)
Accumulated other comprehensive loss	(2,971)	(2,385)
Baker Hughes Company equity	14,394	14,830
Noncontrolling interests	131	1,916
Total equity	14,525	16,746
Total liabilities and equity	34,181	35,308
Class A Common Stock
Equity:
Common stock	0	0
Class B Common Stock
Equity:
Common stock	$ 0	$ 0

Supplementary Information - Supplemental cash flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Income taxes paid, net of refunds	$ 498	$ 314	$ 441
Interest paid	$ 291	$ 305	$ 289

Income Taxes - Provision or Benefit for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
U.S.	$ 6	$ 11	$ (59)
Foreign	489	614	458
Total current	495	625	399
Deferred:
U.S.	40	(24)	11
Foreign	65	157	149
Total deferred	105	133	160
Provision for income taxes	$ 600	$ 758	$ 559

- Definition

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

+ References + Details

Stock-Based Compensation - PSU (Details) - PSUs shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) \| shares	3,702
Granted (in shares) \| shares	1,380
Vested (in shares) \| shares	1,268
Forfeited (in shares) \| shares	(290)
Outstanding, ending balance (in shares) \| shares	3,525
Weighted Average Grant Date Fair Value Per Unit
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 22.57
Granted (in dollars per share) \| $ / shares	30.76
Vested (in dollars per share) \| $ / shares	22.70
Forfeited (in dollars per share) \| $ / shares	24.64
Unvested, ending balance (in dollars per share) \| $ / shares	$ 25.56

Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease assets	$ 757	$ 822
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	All other assets	All other assets
Operating lease, weighted-average remaining lease term	7 years	9 years
Operating lease, weighted-average discount rate	3.10%	3.30%

Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Changes in Number of Shares Outstanding

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


	2022		2021
	Class A Common Stock	Class B Common Stock	Class A Common Stock	Class B Common Stock
Balance at beginning of year	909,142	116,548	723,999	311,433
Issue of shares upon vesting of restricted stock units (1)	6,316	—	4,968	—
Issue of shares on exercises of stock options (1)	1,632	—	408	—
Issue of shares for employee stock purchase plan	2,017	—	2,510	—
Exchange of Class B common stock for Class A common stock (2)	116,548	(116,548)	194,885	(194,885)
Repurchase and cancellation of Class A common stock	(29,694)	—	(17,628)	—
Balance at end of year	1,005,960	—	909,142	116,548

(1) Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.

(2) When shares of Class B common stock, together with associated LLC Units, are exchanged for shares of Class A common stock pursuant to the Exchange Agreement, such shares of Class B common stock are canceled.

Schedule of Accumulated Other Comprehensive Loss

The following table presents 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, 2020	$	(1,464)	$	3	$	(317)	$	(1,778)
Other comprehensive income (loss) before reclassifications	(344)		(11)		135		(220)
Amounts reclassified from accumulated other comprehensive loss	39		(7)		38		70
Deferred taxes	—		2		(3)		(1)
Other comprehensive income (loss)	(305)		(16)		170		(151)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(38)		(3)		25		(16)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	394		—		78		472

Balance at December 31, 2021	(2,125)		(10)		(250)		(2,385)
Other comprehensive income (loss) before reclassifications	(294)		(1)		2		(293)
Amounts reclassified from accumulated other comprehensive loss	25		3		27		55
Deferred taxes	—		—		(43)		(43)
Other comprehensive income (loss)	(269)		2		(14)		(281)
Less: Other comprehensive loss attributable to noncontrolling interests	(3)		—		—		(3)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	275		1		32		308

Balance at December 31, 2022	$	(2,666)	$	(9)	$	(296)	$	(2,971)

- 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

Income Taxes - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) country	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)
Total Gross Unrecognized Tax Benefits
CARES Act tax benefit		$ 117
NOLs	$ 1,977
Valuation allowances	4,090		$ 3,928
Deferred tax assets, foreign operating loss carryforwards	266
Various other deferred tax assets without a valuation allowance	196
Cumulative amount of undistributed foreign earnings	3,323
Tax liabilities for gross unrecognized tax benefits	(496)	$ (483)	$ (531)
Interest accrued on income taxes for unrecognized tax benefits	127
Penalties accrued on income taxes for unrecognized tax benefits	42
Uncertain tax positions	665
Unrecognized tax benefits that would impact effective tax rate	584
Deferred tax asset that we did not prevail on all uncertain tax position	81
Deferred tax asset that we did not prevail on all uncertain tax position, foreign taxing jurisdiction	61
Deferred tax asset that we did not prevail on all uncertain tax position, increased valuation allowances	20
Uncertain tax positions liabilities	$ 72
Number of countries in which entity operates (more than) \| country	120
GE \| Indemnification Agreement
Total Gross Unrecognized Tax Benefits
Charge	$ 81
Cash payment	21
Foreign Net Operating Loss
Total Gross Unrecognized Tax Benefits
Valuation allowances	1,692
U.S Net Operating Loss
Total Gross Unrecognized Tax Benefits
Valuation allowances	116
US And Foreign Tax Credit Carryforward
Total Gross Unrecognized Tax Benefits
Valuation allowances	936
Other United States Net Operating Loss Tax Credit Carryforward
Total Gross Unrecognized Tax Benefits
Valuation allowances	109
Other US And Foreign Deferred Tax Assets
Total Gross Unrecognized Tax Benefits
Valuation allowances	1,237
Five years
Total Gross Unrecognized Tax Benefits
Expiring operating loss carryforwards	301
Capital loss carryforwards	97
Six to 20 years
Total Gross Unrecognized Tax Benefits
Expiring operating loss carryforwards	515
Indefinite Foreign Tax
Total Gross Unrecognized Tax Benefits
Non-U.S. tax credits	399
Definite Foreign Tax
Total Gross Unrecognized Tax Benefits
Non-U.S. tax credits	542
Other Tax
Total Gross Unrecognized Tax Benefits
Other credits	$ 146

Employee Benefit Plans - Narrative (Details)	12 Months Ended
Employee Benefit Plans - Narrative (Details)	Dec. 31, 2022 USD ($) plan	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution per dollar	$ 1.00
Defined contribution plan, employer matching contribution	5.00%
Defined contribution plan, employers matching contribution for vesting plan	4.00%
Defined contribution plan, employers matching contribution for vesting, period	3 years
Defined contribution plans, cost	$ 212,000,000	$ 194,000,000
Number of non-qualified defined contribution plans \| plan	2
Defined contribution plan, assets and liabilities	$ 256,000,000	322,000,000
Pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension assets or obligations, threshold, per plan	20,000,000
Accumulated postretirement benefit obligation	2,634,000,000	3,550,000,000	$ 3,806,000,000
Fair values of the plan assets	2,266,000,000	3,147,000,000	$ 3,202,000,000
Payment for settlement	24,000,000	33,000,000
Employer contributions	$ 32,000,000	28,000,000
Pension plan \| Funded plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| plan	7
Pension plan \| Underfunded plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| plan	5
Pension plan \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated future employer contributions in next fiscal year	$ 15,000,000
Pension plan \| Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated future employer contributions in next fiscal year	20,000,000
Pension plan \| Fixed income and cash investment funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	1,482,000,000	1,890,000,000
Pension plan \| Fair value measured at Net Asset Value per share
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	$ 2,157,000,000	$ 3,028,000,000
Pension plan \| Fair value measured at Net Asset Value per share \| Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percent of plan assets valued using NAV	13.00%	16.00%
Pension plan \| Fair value measured at Net Asset Value per share \| Fixed income and cash investment funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percent of plan assets valued using NAV	69.00%	62.00%
Pension plan \| Fair value measured at Net Asset Value per share \| Alternative investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percent of plan assets valued using NAV	18.00%	22.00%
Pension plan \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	$ 109,000,000	$ 119,000,000
Pension plan \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	$ 100,000,000	112,000,000
Pension plan \| UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| plan	4
Payment for settlement	$ 286,000,000
Pension plan \| Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| plan	8
Postretirement Health Care Benefits \| UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated postretirement benefit obligation	$ 37,000,000	50,000,000
Supplemental Pension Plan \| UNITED STATES \| Nonqualified Plan \| BH SPP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Trust assets	$ 34,000,000	$ 45,000,000

Financial Instruments - Reconciliation of recurring Level 3 fair value measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ 8	$ 30
Proceeds at maturity	(8)	(22)
Balance at end of year	$ 0	$ 8

Leases - Operating Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Expense
Long-term fixed lease	$ 254	$ 255	$ 288
Long-term variable lease	48	32	25
Short-term lease	477	440	477
Total operating lease expense	$ 779	$ 727	$ 790

Contract and Other Deferred Assets (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets

Contract assets are comprised of the following at December 31:


	2022		2021
Long-term product service agreements	$	392	$	589
Long-term equipment contracts and certain other service agreements	955		825
Contract assets (total revenue in excess of billings)	1,347		1,414
Deferred inventory costs	125		156
Non-recurring engineering costs	31		28
Contract and other deferred assets	$	1,503	$	1,598

Contract liabilities are comprised of the following at December 31:


	2022		2021
Progress collections	$	3,713	$	3,108
Deferred income	109		124
Progress collections and deferred income (contract liabilities)	$	3,822	$	3,232

Employee Benefit Plans - Future Expected Benefit Payments (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure
2023	$ 447
2024	129
2025	133
2026	138
2027	139
2028-2032	730
Payment for settlement	24	$ 33
UNITED STATES
Defined Benefit Plan Disclosure
Payment for settlement	$ 286

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 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 & Equipment		Industrial & Energy Technology		Total
Balance at December 31, 2020, gross	$	19,818	$	4,686	$	24,504
Accumulated impairment at December 31, 2020	(18,273)		(254)		(18,527)
Balance at December 31, 2020	1,545		4,432		5,977


Currency exchange and others	7		(25)		(18)
Balance at December 31, 2021	1,552		4,407		5,959

Disposition (1)	(161)		—		(161)
Acquisitions (2)	41		417		458
Currency exchange, impairment and other	—		(96)		(96)
Total	1,432		4,728		6,160
Classified as held for sale (3)	—		(230)		(230)
Balance at December 31, 2022	$	1,432	$	4,498	$	5,930

(2)See "Note 21. Business Dispositions and Acquisitions" for further information related to acquisitions occurring during 2022.

Schedule of Finite-lived Intangible Assets

Intangible assets are comprised of the following at December 31:


	2022						2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,917	$	(729)	$	1,189	$	1,922	$	(752)	$	1,170
Technology	1,212		(803)		409		1,090		(747)		$	343
Trade names and trademarks	287		(175)		112		292		(169)		123
Capitalized software	1,308		(1,040)		268		1,311		(1,057)		254



Finite-lived intangible assets	4,725		(2,747)		1,978		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,202		—		2,202		2,241		—		2,241
Total intangible assets	$	6,927	$	(2,747)	$	4,180	$	6,856	$	(2,725)	$	4,131

Schedule of Indefinite-lived Intangible Assets

Intangible assets are comprised of the following at December 31:


	2022						2021
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	1,917	$	(729)	$	1,189	$	1,922	$	(752)	$	1,170
Technology	1,212		(803)		409		1,090		(747)		$	343
Trade names and trademarks	287		(175)		112		292		(169)		123
Capitalized software	1,308		(1,040)		268		1,311		(1,057)		254



Finite-lived intangible assets	4,725		(2,747)		1,978		4,615		(2,725)		1,890
Indefinite-lived intangible assets	2,202		—		2,202		2,241		—		2,241
Total intangible assets	$	6,927	$	(2,747)	$	4,180	$	6,856	$	(2,725)	$	4,131

Schedule of Finite-lived Intangible Assets, Future Amortization Expense

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


Year	Estimated Amortization Expense
2023	$	245
2024	223
2025	182
2026	135
2027	114

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

The carrying value of our short-term and long-term borrowings are comprised of the following at December 31:


	2022				2021
	Amount		Effective Interest Rate (1)		Amount		Effective Interest Rate (1)
Short-term borrowings


1.231% Senior Notes due December 2023	$	649	1.5	%	$	—	—
Other borrowings	29		2.9	%	40		4.5	%
Total short-term borrowings	677				40

Long-term borrowings

1.231% Senior Notes due December 2023	—		—	%	647		1.5	%
8.55% Debentures due June 2024 (2)	114		4.1	%	118		4.1	%
2.061% Senior Notes due December 2026	597		2.4	%	597		2.2	%
3.337% Senior Notes due December 2027	1,277		3.8	%	1,335		3.2	%
6.875% Notes due January 2029 (2)	273		3.9	%	279		4.0	%
3.138% Senior Notes due November 2029	523		3.2	%	522		3.2	%
4.486% Senior Notes due May 2030	497		4.6	%	497		4.6	%
5.125% Senior Notes due September 2040 (2)	1,286		4.2	%	1,292		4.2	%
4.080% Senior Notes due December 2047	1,338		4.1	%	1,337		4.1	%
Other long-term borrowings	75		4.2	%	63		2.9	%

Total long-term borrowings	5,980				6,687
Total borrowings	$	6,658			$	6,727

(1)Effective interest rate is based on the carrying value including issuance costs, interest rate swaps, and step-up adjustments from the Baker Hughes Incorporated ("BHI") acquisition recorded for certain Senior Notes and Debentures.

(2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.

The carrying value of our short-term and long-term borrowings include issuance costs, changes in fair value of the debt instrument hedged by interest rate swaps, and step-up adjustments for the BHI acquisition. At December 31, 2022 and 2021, these adjustments resulted in a net increase to the carrying value of our borrowings totaling $91 million and $162 million, respectively. The estimated fair value of total borrowings at December 31, 2022 and 2021 was $5,863 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.

Maturities of debt for each of the five years in the period ending December 31, 2027, and in the aggregate thereafter, are listed in the table below:


	2023		2024		2025		2026		2027		Thereafter
Total debt	$	677	$	150	$	14	$	611	$	1,280	$	3,926

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. The Credit Agreement contains certain customary representations and warranties, certain customary affirmative covenants and certain customary negative covenants. Upon the occurrence of certain events of default, BHH LLC's obligations under the Credit Agreement may be accelerated. Such events of default include payment defaults to lenders under the Credit Agreement and other customary defaults. No such events of default have occurred. At December 31, 2022 and 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 December 31, 2022, Baker Hughes Co-Obligor, Inc. is a co-obligor of our long-term debt securities totaling $6,554 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 December 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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-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Revenue Related to Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Segment Revenue

We disaggregate our OFSE and IET segment revenue from contracts with customers by product lines. See "Note 17. Segment Information" for further details.


Total Revenue	2022		2021		2020
Well Construction	$	3,854	$	3,301	$	3,257
Completions, Intervention & Measurements	3,559		3,106		3,614
Production Solutions	3,587		3,135		3,269
Subsea & Surface Pressure Systems	2,230		2,486		2,844
Oilfield Services & Equipment	13,229		12,028		12,984
Gas Technology - Equipment	2,560		2,916		2,421
Gas Technology - Services	2,441		2,700		2,475
Total Gas Technology	5,002		5,616		4,896
Condition Monitoring	545		562		581
Inspection	995		949		865
Pumps, Valves & Gears	826		801		809
PSI & Controls	559		546		570
Total Industrial Technology	2,925		2,857		2,824
Industrial & Energy Technology	7,926		8,473		7,721
Total	$	21,156	$	20,502	$	20,705

Schedule of Revenue by Geographic Region

In addition, management views OFSE segment revenue from contracts with customers by geographic region:


Oilfield Services & Equipment Geographic Revenue	2022		2021		2020
North America	$	3,764	$	2,904	$	3,107
Latin America	2,099		1,681		1,447
Europe/CIS/Sub-Saharan Africa	2,483		2,865		2,846
Middle East/Asia	4,883		4,579		5,584
Oilfield Services & Equipment	$	13,229	$	12,028	$	12,984

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock authorized (in shares)	50,000,000
Common stock par value (in dollars per share)	$ 0.0001
Authorized stock repurchase (in shares)	4,000,000,000	2,000,000,000
Stock repurchased and canceled (in shares)	29,700,000	17,600,000
Repurchase and cancellation of Class A common stock	$ 828	$ 434
Treasury stock acquired, average cost (in dollars per share)	$ 27.91	$ 24.63
Remaining authorized repurchase amount	$ 2,800
BHH LLC
Class of Stock [Line Items]
Stock Repurchase Program, Increase To Number of Shares Authorized to be Repurchased	2,000,000,000
Class A Common Stock
Class of Stock [Line Items]
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock outstanding (in shares)	1,006,000,000	909,000,000
Cash dividends per share (in dollars per share)	$ 0.73	$ 0.72	$ 0.72
Class A Common Stock \| Cash dividend
Class of Stock [Line Items]
Cash dividends per share (in dollars per share)	$ 0.73	$ 0.72
Class B Common Stock
Class of Stock [Line Items]
Common stock authorized (in shares)	1,250,000,000	1,250,000,000
Common stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock outstanding (in shares)	0	117,000,000

Borrowings - Schedule of Carrying Value of Short-term and Long-term Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Short-term borrowings
Effective Interest Rate	4.20%	2.90%
Total short-term borrowings	$ 677	$ 40
Long-term borrowings
Other long-term borrowings	75	63
Total long-term borrowings	5,980	6,687
Total borrowings	$ 6,658	$ 6,727
3.337% Senior Notes due December 2027
Debt Instrument [Line Items]
Stated interest rate	3.337%	3.337%
Senior Notes \| 1.231% Senior Notes due December 2023
Debt Instrument [Line Items]
Stated interest rate	1.231%
Short-term borrowings
Effective Interest Rate	0.00%	1.50%
Long-term borrowings
Long-term borrowings	$ 0	$ 647
Senior Notes \| 2.061% Senior Notes due December 2026
Debt Instrument [Line Items]
Stated interest rate	2.061%
Short-term borrowings
Effective Interest Rate	2.40%	2.20%
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%
Short-term borrowings
Effective Interest Rate	3.80%	3.20%
Long-term borrowings
Long-term borrowings	$ 1,277	$ 1,335
Senior Notes \| 6.875% Notes due January 2029
Debt Instrument [Line Items]
Stated interest rate	6.875%
Short-term borrowings
Effective Interest Rate	3.90%	4.00%
Long-term borrowings
Long-term borrowings	$ 273	$ 279
Senior Notes \| 3.138% Senior Notes due November 2029
Debt Instrument [Line Items]
Stated interest rate	3.138%
Short-term borrowings
Effective Interest Rate	3.20%	3.20%
Long-term borrowings
Long-term borrowings	$ 523	$ 522
Senior Notes \| 4.486% Senior Notes due May 2030
Debt Instrument [Line Items]
Stated interest rate	4.486%
Short-term borrowings
Effective Interest Rate	4.60%	4.60%
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%
Short-term borrowings
Effective Interest Rate	4.20%	4.20%
Long-term borrowings
Long-term borrowings	$ 1,286	$ 1,292
Senior Notes \| 4.080% Senior Notes due December 2047
Debt Instrument [Line Items]
Stated interest rate	4.08%
Short-term borrowings
Effective Interest Rate	4.10%	4.10%
Long-term borrowings
Long-term borrowings	$ 1,338	$ 1,337
Debentures \| 8.55% Debentures due June 2024
Debt Instrument [Line Items]
Stated interest rate	8.55%
Short-term borrowings
Effective Interest Rate	4.10%	4.10%
Long-term borrowings
Long-term borrowings	$ 114	$ 118
Senior Notes \| 1.231% Senior Notes due December 2023
Debt Instrument [Line Items]
Stated interest rate	1.231%
Short-term borrowings
Effective Interest Rate	1.50%	0.00%
Total short-term borrowings	$ 649	$ 0
Other borrowings
Short-term borrowings
Effective Interest Rate	2.90%	4.50%
Total short-term borrowings	$ 29	$ 40

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Financial Information


Segment revenue	2022		2021		2020
Oilfield Services & Equipment	$	13,229	$	12,028	$	12,984
Industrial & Energy Technology	7,926		8,473		7,721
Total	$	21,156	$	20,502	$	20,705


Segment income (loss) before income taxes	2022		2021		2020
Oilfield Services & Equipment	$	1,201	$	830	$	506
Industrial & Energy Technology	1,135		1,177		998
Total segment	2,336		2,006		1,504
Corporate	(416)		(429)		(464)
Inventory impairment (1)	(31)		—		(246)
Goodwill impairment	—		—		(14,773)
Restructuring, impairment and other	(682)		(209)		(1,866)
Separation related	(23)		(60)		(134)
Other non-operating income (loss), net	(911)		(583)		1,040
Interest expense, net	(252)		(299)		(264)
Income (loss) before income taxes	$	22	$	428	$	(15,202)

(1)Inventory impairments are reported in the "Cost of goods sold" caption of the consolidated statements of income (loss).

Schedule of Assets and Segment Depreciation and Amortization

The following table presents total assets by segment at December 31:


Segment assets	2022		2021
Oilfield Services & Equipment	$	17,181	$	17,950
Industrial & Energy Technology	12,286		11,480
Total segment	29,467		29,430
Corporate and eliminations (1)	4,714		5,878
Total	$	34,181	$	35,308

The following table presents depreciation and amortization by segment:


Segment depreciation and amortization	2022		2021		2020
Oilfield Services & Equipment	$	845	$	874	$	1,072
Industrial & Energy Technology	197		208		216
Total Segment	1,042		1,082		1,288
Corporate	19		23		29
Total	$	1,061	$	1,105	$	1,317

The following table presents capital expenditures by segment:


Segment capital expenditures	2022		2021		2020
Oilfield Services & Equipment	$	791	$	659	$	743
Industrial & Energy Technology	183		182		196
Total Segment	974		841		939
Corporate	15		15		35
Total	$	989	$	856	$	974

Schedule of Revenues and Property, Plant and Equipment, Net


Revenue	2022		2021		2020
U.S.	$	4,942	$	4,497	$	4,638
Non-U.S.	16,214		16,005		16,067
Total	$	21,156	$	20,502	$	20,705

The following table presents net property, plant and equipment by its geographic location at December 31:


Property, plant and equipment - net	2022		2021
U.S.	$	1,554	$	1,651
Non-U.S.	2,984		3,226
Total	$	4,538	$	4,877

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Performance obligations expected to be satisfied, expected timing	We sell product services under long-term product maintenance or extended warranty agreements in our Industrial & Energy Technology segment. These agreements require us to maintain the customers' assets over the service agreement contract terms, which generally range from 10 to 20 years.
Research and development expenses	$ 556	$ 492	$ 595
Restricted cash and cash equivalents held in bank accounts	$ 605	$ 601
BHH LLC \| GE \| GE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage by noncontrolling owners		11.40%

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATIONThe accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S." and such principles, "U.S. GAAP") and pursuant to the rules and regulations of the SEC for annual financial information.
Consolidation	The consolidated financial statements include the accounts of Baker Hughes 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.
Reclassification	In the Company's consolidated financial statements and notes, certain amounts have been reclassified to conform with the current year presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of any contingent assets or liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty, and accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. While we believe that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Estimates are used for, but are not limited to, determining the following: allowance for credit losses and inventory valuation reserves; recoverability of long-lived assets; revenue recognition on long-term contracts; valuation of goodwill; useful lives used in depreciation and amortization; income taxes and related valuation allowances; accruals for contingencies; actuarial assumptions to determine costs and liabilities related to employee benefit plans; stock-based compensation expense; valuation of derivatives; and the fair value of assets acquired and liabilities assumed in acquisitions.
Foreign Currency	Foreign Currency Assets and liabilities of non-U.S. operations with a functional currency other than the U.S. dollar have been translated into U.S. dollars using our period end exchange rates, and revenue, expenses, and cash flows have been translated at average rates for the respective periods. Any resulting translation gains and losses are included in other comprehensive income (loss). Gains and losses from foreign currency transactions, such as those resulting from the settlement of receivables or payables in the non-functional currency and those resulting from remeasurements of monetary items of non-U.S. operations where the functional currency is the U.S. dollar, are included in the consolidated statements of income (loss).
Revenue from Sale of Equipment	Revenue from Sale of Equipment Performance Obligations Satisfied Over Time We recognize revenue on agreements for sales of equipment manufactured to unique customer specifications including long-term construction projects, on an over time basis, utilizing cost inputs as the measurement criteria in assessing the progress toward completion. Our estimate of costs to be incurred to fulfill our promise to a customer is based on our history of manufacturing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. We begin to recognize revenue on these contracts when the contract specific inventory becomes customized for a customer, which is reflective of our initial transfer of control of the incurred costs. We provide for potential losses on any of these agreements when it is probable that we will incur the loss. Our billing terms for these over time contracts vary, but are generally based on achieving specified milestones. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. Performance Obligations Satisfied at a Point In Time We recognize revenue for non-customized equipment at the point in time that the customer obtains control of the good. Equipment for which we recognize revenue at a point in time includes equipment we manufacture on a standardized basis for sale to the market. We use proof of delivery for certain large equipment with more complex logistics associated with the shipment, whereas the delivery of other equipment is generally determined based on historical data of transit times between regions. On occasion we sell equipment with a right of return. We use our accumulated experience to estimate and provide for such returns when we record the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have concluded that the customer has control of the equipment and that acceptance has or is likely to occur. Our billing terms for these point in time equipment contracts vary, but are generally based on shipment of the equipment to the customer. Revenue from Sale of Services Performance Obligations Satisfied Over Time We sell product services under long-term product maintenance or extended warranty agreements in our Industrial & Energy Technology segment. These agreements require us to maintain the customers' assets over the service agreement contract terms, which generally range from 10 to 20 years. In general, these are contractual arrangements to provide services, repairs, and maintenance of a covered unit (gas turbines for mechanical drive or power generation, primarily on LNG applications). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on an other than straight-line basis. We recognize related sales based on the extent of our progress toward completion measured by actual costs incurred in relation to total expected costs. We provide for any loss that we expect to incur on any of these agreements when that loss becomes probable. The Company utilizes historical customer data, prior product performance data, statistical analysis, third-party data, and internal management estimates to calculate contract-specific margins. In certain contracts, the total transaction price is variable based on customer utilization, which is excluded from the contract margin until the period that the customer has utilized to appropriately reflect the revenue activity in the period earned. In addition, revenue for certain oilfield services is recognized on an over time basis as performed. Our billing terms for these contracts are generally based on asset utilization (i.e. usage per hour) or the occurrence of a major maintenance event within the contract. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. Performance Obligations Satisfied at a Point In Time We sell certain tangible products, largely spare equipment, through our services business. We recognize revenue for this equipment at the point in time that the customer obtains control of the good, which is at the point in time we deliver the spare part to the customer. Our billing terms for these point in time service contracts vary, but are generally based on shipment of the equipment to the customer.
Research and Development	Research and Development Research and development costs are expensed as incurred and relate to the research and development of new products and services. These costs amounted to $556 million, $492 million and $595 million for the years ended December 31, 2022, 2021 and 2020, respectively. Research and development expenses were reported in cost of goods sold and cost of services sold.
Separation Related	Separation Related Separation related costs relate to activities performed to facilitate the separation from GE including costs for the build-out of certain information technology infrastructures as a result of the separation. Separation activities were substantially completed by the end of 2022.
Cash and Cash Equivalents	Cash and Cash Equivalents Short-term investments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities.
Allowance for Credit Losses	Allowance for Credit Losses We monitor our customers' payment history and current credit worthiness to determine that collectability of the related financial assets are reasonably assured. We also consider the overall business climate in which our customers operate. For accounts receivable, a loss allowance matrix is utilized to measure lifetime expected credit losses. The matrix contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations.
Concentration of Credit Risk	Concentration of Credit Risk Our current receivables are spread over a broad and diverse group of customers across many countries. We grant credit to our customers and perform periodic credit evaluations of our customers' financial conditions, including monitoring our customers' payment history and current credit worthiness to manage this risk. We do not generally require collateral in support of our current receivables, but we may require payment in advance or security in the form of a letter of credit or a bank guarantee.
Inventories	Inventories All inventories are stated at the lower of cost or net realizable values and they are measured on a first-in, first-out ("FIFO") basis or average cost basis. As necessary, we record provisions and maintain reserves for excess, slow moving and obsolete inventory. To determine these reserve amounts, we regularly review inventory quantities on hand and compare them to estimates of future product demand, market conditions, production requirements and technological developments.
Property, Plant and Equipment (PP&E)	Property, Plant and Equipment ("PP&E") Property, plant and equipment is initially stated at cost and is depreciated over its estimated economic life. Subsequently, property, plant and equipment is measured at cost less accumulated depreciation, which is generally provided by using the straight-line method over the estimated economic lives of the individual assets, and impairment losses. We manufacture a substantial portion of our tools and equipment in our OFSE segment and the cost of these items, which includes direct and indirect manufacturing costs, is capitalized in inventory and subsequently moved to PP&E.
Other Intangible Assets	Other Intangible AssetsWe amortize the cost of other intangible assets over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life. Amortizable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. In these circumstances, they are tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on either discounted cash flows or appraised values. Intangible assets with indefinite lives are tested annually for impairment and written down to fair value as required.
Impairment of Goodwill	We perform an annual impairment test of goodwill on a qualitative or quantitative basis for each of our reporting units as of July 1, or more frequently when circumstances indicate an impairment may exist at the reporting unit level. When performing the annual impairment test we have the option of first performing a qualitative assessment to determine the existence of events and circumstances that would lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If such a conclusion is reached, we would then be required to perform a quantitative impairment assessment of goodwill. However, if the assessment leads to a determination that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then no further assessments are required. A quantitative assessment for the determination of impairment is made by comparing the carrying amount of each reporting unit with its fair value, which is generally calculated using a combination of market, comparable transaction and discounted cash flow approaches. See "Note 5. Goodwill and Other Intangible Assets" for further information on valuation methodology and impairment of goodwill.
Impairment of Other Long-Lived Assets	We review PP&E, intangible assets and certain other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable and at least annually for indefinite-lived intangible assets. When testing for impairment, we group our long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of recoverability is made based upon the estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related assets.
Financial Instruments	Financial Instruments Our financial instruments include cash and equivalents, current receivables, investments, accounts payables, short and long-term debt, and derivative financial instruments. We monitor our exposure to various business risks including commodity prices and foreign currency exchange rates and we regularly use derivative financial instruments to manage these risks. At the inception of a new derivative, we designate the derivative as a hedge or we determine the derivative to be undesignated as a hedging instrument. We document the relationships between the hedging instruments and the hedged items, as well as our risk management objectives and strategy for undertaking various hedge transactions. We assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged item at both the inception of the hedge and on an ongoing basis. We have a program that utilizes foreign currency forward contracts to reduce the risks associated with the effects of certain foreign currency exposures. Under this program, our strategy is to have gains or losses on the foreign currency forward contracts mitigate the foreign currency transaction and translation gains or losses to the extent practical. These foreign currency exposures typically arise from changes in the value of assets (for example, current receivables) and liabilities (for example, current payables) which are denominated in currencies other than the functional currency of the respective entity. We record all derivatives as of the end of our reporting period in our consolidated statements of financial position at fair value. For the forward contracts held as undesignated hedging instruments, we record the changes in fair value of the forward contracts in our consolidated statements of income (loss) along with the change in the fair value, related to foreign exchange movements, of the hedged item. Changes in the fair value of forward contracts designated as cash flow hedging instruments are recognized in other comprehensive income until the hedged item is recognized in earnings.
Fair Value Measurements	Fair Value Measurements For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: •Level 1 - Quoted prices for identical instruments in active markets. •Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. •Level 3 - Significant inputs to the valuation model are unobservable. We maintain policies and procedures to value instruments using the best and most relevant data available. In addition, we perform reviews to assess the reasonableness of the valuations. With regard to Level 3 valuations (including instruments valued by third parties), we perform a variety of procedures to assess the reasonableness of the valuations. Such reviews include an evaluation of instruments whose fair value change exceeds predefined thresholds (and/or does not change) and consider the current interest rate, currency and credit environment, as well as other published data, such as rating agency market reports and current appraisals. Recurring Fair Value Measurements Derivatives When we have Level 1 derivatives, which are traded either on exchanges or liquid over-the-counter markets, we use closing prices for valuation. The majority of our derivatives are valued using internal models and are included in Level 2. These internal models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent foreign currency and commodity forward contracts for the Company. Investments in Debt and Equity Securities When available, we use quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities. For investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), we use pricing models that are consistent with what other market participants would use. The inputs and assumptions to the models are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. Thus, certain securities may not be priced using quoted prices, but rather determined from market observable information. These investments are included in Level 2. When we use valuations that are based on significant unobservable inputs we classify the investment securities in Level 3. Non-Recurring Fair Value Measurements Certain assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments only in certain circumstances. These assets can include long-lived assets that have been reduced to fair value when they are held for sale, equity securities without readily determinable fair value, equity method investments and long-lived assets that are written down to fair value when they are impaired, and the remeasurement of retained investments in formerly consolidated subsidiaries upon a change in control that results in a deconsolidation of a subsidiary, if we sell a controlling interest and retain a noncontrolling stake in the entity.
Investments in Equity Securities	Investments in Equity Securities Investments in equity securities (of entities in which we do not have either a controlling financial interest or significant influence, most often because we hold a voting interest of 0% to 20%) with readily determinable fair values are measured at fair value with changes in fair value recognized in earnings and reported in "other non- operating income (loss), net" in the consolidated statements of income (loss). Equity securities that do not have readily determinable fair values are recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar equity securities of the same issuer. These changes are recorded in "other non-operating income (loss), net" in the consolidated statements of income (loss). Equity method investments are equity holdings in entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. The results of our equity method investments are presented in the consolidated statements of income (loss) as follows: (i) if the investment is integral to our operations, their results are included in "Selling, general and administrative," and (ii) if the investment is not integral to our operations, their results are included in "Other non-operating income (loss), net." Investments in, and advances to, equity method investments are presented on a one-line basis in the caption "All other assets" in our consolidated statements of financial position.
Income Taxes	Income Taxes We file U.S. federal and state income tax returns which primarily includes our distributive share of items of income, gain, loss and deduction of BHH LLC, which is treated as a partnership for U.S. tax purposes. As such, BHH LLC will not itself be subject to U.S. federal income tax under current U.S. tax laws. Non-U.S. current and deferred income taxes owed by the subsidiaries of BHH LLC are reflected in the financial statements. We account for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and the tax base of assets and liabilities based on enacted tax rates expected to be in effect when taxes are actually paid or recovered, as well as for net operating losses and tax credit carryforwards. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period in which such change is enacted. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes is not more likely than not to be realized. We provide U.S. deferred taxes on our outside basis difference in our investment in BHH LLC. In determining this outside basis difference, we exclude non-deductible goodwill and the basis difference related to certain foreign corporations owned by BHH LLC where the undistributed earnings of the foreign corporation have been, or will be, reinvested indefinitely. Indefinite reinvestment is determined by management’s judgment and intentions concerning the future operations of the Company. In cases where repatriation would incur significant withholding or income taxes, these foreign earnings have been indefinitely reinvested in the Company’s active non-U.S. business operations. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis difference is not practicable. Significant judgment is required in determining our tax expense and in evaluating our tax positions, including evaluating uncertainties. Our tax filings are subject to audit by the tax authorities in the jurisdictions where we conduct business. These audits may result in assessments of additional taxes that are resolved with the tax authorities or through the courts. We have provided for the amounts that we believe will ultimately result from these proceedings. We recognize uncertain tax positions that are “more likely than not” to be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, we measure the amount of tax benefit based on the largest amount of tax benefit that has a greater than 50% chance of being realized in a final settlement with the relevant authority. We classify interest and penalties associated with uncertain tax positions as income tax expense. The effects of tax adjustments and settlements from taxing authorities are presented in financial statements in the period they are finalized.
Environmental Liabilities	Environmental Liabilities We are involved in numerous remediation actions to clean up hazardous waste as required by federal and state laws. Liabilities for remediation costs exclude possible insurance recoveries and, when dates and amounts of such costs are not known, are not discounted. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low end of such range. It is reasonably possible that our environmental remediation exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual sites, such amounts are not reasonably estimable. The determination of the required accruals for remediation costs is subject to uncertainty, including the evolving nature of environmental regulations and the difficulty in estimating the extent and type of remediation activity that is necessary.
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.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Houston, Texas
Auditor Firm ID	185

Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Carrying Value of Short-term and Long-term Borrowings

The carrying value of our short-term and long-term borrowings are comprised of the following at December 31:


	2022				2021
	Amount		Effective Interest Rate (1)		Amount		Effective Interest Rate (1)
Short-term borrowings


1.231% Senior Notes due December 2023	$	649	1.5	%	$	—	—
Other borrowings	29		2.9	%	40		4.5	%
Total short-term borrowings	677				40

Long-term borrowings

1.231% Senior Notes due December 2023	—		—	%	647		1.5	%
8.55% Debentures due June 2024 (2)	114		4.1	%	118		4.1	%
2.061% Senior Notes due December 2026	597		2.4	%	597		2.2	%
3.337% Senior Notes due December 2027	1,277		3.8	%	1,335		3.2	%
6.875% Notes due January 2029 (2)	273		3.9	%	279		4.0	%
3.138% Senior Notes due November 2029	523		3.2	%	522		3.2	%
4.486% Senior Notes due May 2030	497		4.6	%	497		4.6	%
5.125% Senior Notes due September 2040 (2)	1,286		4.2	%	1,292		4.2	%
4.080% Senior Notes due December 2047	1,338		4.1	%	1,337		4.1	%
Other long-term borrowings	75		4.2	%	63		2.9	%

Total long-term borrowings	5,980				6,687
Total borrowings	$	6,658			$	6,727

(2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.

Schedule of Maturities of Debt

Maturities of debt for each of the five years in the period ending December 31, 2027, and in the aggregate thereafter, are listed in the table below:


	2023		2024		2025		2026		2027		Thereafter
Total debt	$	677	$	150	$	14	$	611	$	1,280	$	3,926

Progress Collections and Deferred Income (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract Liabilities

Contract assets are comprised of the following at December 31:


	2022		2021
Long-term product service agreements	$	392	$	589
Long-term equipment contracts and certain other service agreements	955		825
Contract assets (total revenue in excess of billings)	1,347		1,414
Deferred inventory costs	125		156
Non-recurring engineering costs	31		28
Contract and other deferred assets	$	1,503	$	1,598

Contract liabilities are comprised of the following at December 31:


	2022		2021
Progress collections	$	3,713	$	3,108
Deferred income	109		124
Progress collections and deferred income (contract liabilities)	$	3,822	$	3,232

Employee Benefit Plans - Components of Net Periodic Cost (Income) (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 23	$ 27	$ 27
Interest cost	78	64	77
Expected return on plan assets	(114)	(130)	(121)
Amortization of prior service credit	1	1	1
Amortization of net actuarial loss	27	40	34
Curtailment / settlement loss	2	2	10
Net periodic cost	$ 17	$ 4	$ 28

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment are comprised of the following at December 31:


	Useful Life	2022		2021
Land and improvements (1)	8 - 20 years (1)	$	347	$	350
Buildings, structures and related equipment	5 - 40 years	2,120		2,271
Machinery, equipment and other	2 - 20 years	7,192		7,259
Total cost		9,659		9,880
Less: Accumulated depreciation		(5,121)		(5,003)
Property, plant and equipment, less accumulated depreciation		$	4,538	$	4,877

(1)Useful life excludes land.

Financial Instruments - Derivatives and hedging (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Assets	$ 18	$ 29
(Liabilities)	$ (86)	$ (49)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	All other current assets, All other assets	All other current assets, All other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	All other current liabilities, All other liabilities	All other current liabilities, All other liabilities
Currency exchange contracts \| Derivatives accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	$ 1	$ 0
(Liabilities)	0	(3)
Currency exchange contracts \| Derivatives not accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	17	29
(Liabilities)	(17)	(36)
Interest rate swap contracts \| Derivatives accounted for as hedges
Derivatives, Fair Value [Line Items]
Assets	0	0
(Liabilities)	$ (69)	$ (10)

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Inventory, Net [Abstract]

Schedule of Inventories, Net of Reserves

Inventories, net of reserves of $396 million and $374 million in 2022 and 2021, respectively, are comprised of the following at December 31:


	2022		2021
Finished goods	$	2,419	$	2,228
Work in process and raw materials	2,168		1,751
Total inventories, net	$	4,587	$	3,979

Segment Information - Operating Profit (Loss) by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information
Revenues	$ 21,156,000,000	$ 20,502,000,000	$ 20,705,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	22,000,000	428,000,000	(15,202,000,000)
Inventory impairment	(31,000,000)	0	(246,000,000)
Goodwill impairment	0	0	(14,773,000,000)
Restructuring, impairment and other	(682,000,000)	(209,000,000)	(1,866,000,000)
Separation related	(23,000,000)	(60,000,000)	(134,000,000)
Other non-operating income (loss), net	(911,000,000)	(583,000,000)	1,040,000,000
Interest expense, net	(252,000,000)	(299,000,000)	(264,000,000)
Operating segments
Segment Reporting Information
Revenues	21,156,000,000	20,502,000,000	20,705,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	2,336,000,000	2,006,000,000	1,504,000,000
Corporate
Segment income (loss) before income taxes
Income (loss) before income taxes	(416,000,000)	(429,000,000)	(464,000,000)
Segment reconciling items
Segment income (loss) before income taxes
Inventory impairment	(31,000,000)	0	(246,000,000)
Goodwill impairment	0	0	(14,773,000,000)
Restructuring, impairment and other	(682,000,000)	(209,000,000)	(1,866,000,000)
Separation related	(23,000,000)	(60,000,000)	(134,000,000)
Other non-operating income (loss), net	(911,000,000)	(583,000,000)	1,040,000,000
Interest expense, net	(252,000,000)	(299,000,000)	(264,000,000)
Oilfield Services & Equipment
Segment Reporting Information
Revenues	13,229,000,000	12,028,000,000	12,984,000,000
Oilfield Services & Equipment \| Operating segments
Segment income (loss) before income taxes
Income (loss) before income taxes	1,201,000,000	830,000,000	506,000,000
Industrial & Energy Technology
Segment Reporting Information
Revenues	7,926,000,000	8,473,000,000	7,721,000,000
Industrial & Energy Technology \| Operating segments
Segment Reporting Information
Revenues	7,926,000,000	8,473,000,000	7,721,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	$ 1,135,000,000	$ 1,177,000,000	$ 998,000,000

Segment Information - Revenue based on the Location of Product and Services and Net Property, Plant and Equipment by Geographic Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from geographic segments
Revenue	$ 21,156	$ 20,502	$ 20,705
Property, plant and equipment - net	4,538	4,877
U.S.
Revenue from geographic segments
Revenue	4,942	4,497	4,638
Property, plant and equipment - net	1,554	1,651
Non-U.S.
Revenue from geographic segments
Revenue	16,214	16,005	$ 16,067
Property, plant and equipment - net	$ 2,984	$ 3,226

- Definition

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

+ References

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+ Details

Stock-Based Compensation - Changes in Stock Options Outstanding (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Options
Outstanding, beginning balance (in shares) \| shares	5,249
Exercised (in shares) \| shares	(1,661)
Expired (in shares) \| shares	(681)
Outstanding, ending balance (in shares) \| shares	2,907
Exercisable, ending balance (in shares) \| shares	2,907
Weighted Average Exercise Price Per Option
Outstanding, beginning (in dollars per share) \| $ / shares	$ 31.25
Exercised (in dollars per share) \| $ / shares	25.82
Expired (in dollars per share) \| $ / shares	36.97
Outstanding, ending (in dollars per share) \| $ / shares	33.02
Exercisable, ending (in dollars per share) \| $ / shares	$ 33.02

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock
Cash dividends per share (in dollars per share)	$ 0.73	$ 0.72	$ 0.72

Restructuring, Impairment and Other - Schedule of Restructuring and Impairment Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 196	$ 138	$ 903
Property, plant and equipment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	58	7	385
Employee-related termination expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	121	99	464
Asset relocation costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	3	20	15
Contract termination fees
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1	2	23
Other incremental costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	13	10	16
Operating segments \| Oilfield Services & Equipment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	121	121	800
Operating segments \| Industrial & Energy Technology
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	36	11	89
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 39	$ 6	$ 14

Restructuring, Impairment and Other - Narrative (Details)		3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 01, 2022 segment	Jun. 30, 2022 USD ($)	Sep. 30, 2022 segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other				$ 682,000,000	$ 209,000,000	$ 1,866,000,000
Restructuring charges				196,000,000	138,000,000	903,000,000
Number of operating segments \| segment	2		4
Expected additional charges				100,000,000
Other charges				486,000,000	71,000,000	963,000,000
Inventory impairment				31,000,000	0	246,000,000
Intangible assets impairment				18,000,000	0	729,000,000
Property, plant and equipment impairment				166,000,000	$ 7,000,000	461,000,000
Litigation and impairment of equity method investment						73,000,000
Sale \| Oilfield Services and Equipment Russia business
Restructuring Cost and Reserve [Line Items]
Other impairment charges		$ 334,000,000
Sale \| Industrial & Energy Technology
Restructuring Cost and Reserve [Line Items]
Inventory impairment		$ 31,000,000
Oilfield Services & Equipment
Restructuring Cost and Reserve [Line Items]
Other charges				84,000,000
Intangible asset impairments						605,000,000
Other long-lived asset impairments						216,000,000
Intangible assets impairment						124,000,000
Property, plant and equipment impairment						77,000,000
Other assets						$ 15,000,000
Industrial & Energy Technology
Restructuring Cost and Reserve [Line Items]
Other charges				$ 68,000,000

Stock-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 207,000,000	$ 205,000,000	$ 210,000,000
Weighted average remaining contractual term for options outstanding	4 years 3 months 18 days
Weighted average remaining contractual term for options exercisable	4 years 3 months 18 days
Options vested (in shares)	530,000	850,000	1,553,000
Fair value of options vested	$ 3,000,000	$ 7,000,000	$ 14,000,000
Total intrinsic value of stock options exercised	12,000,000
Total intrinsic value of stock options outstanding	5,000,000
Total intrinsic value of stock options exercisable	$ 5,000,000
Share price (in dollars per share)	$ 29.53
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award of common stock, right to receive (in shares)	1
Stock-based compensation, service period	3 years
Vested intrinsic value	$ 210,000,000
Intrinsic value, outstanding	424,000,000
Fair value options vested in period	170,000,000
Unrecognized compensation cost, unvested	$ 181,000,000
Weighted average period of recognition for unrecognized compensation cost	1 year 9 months 7 days
RSUs \| Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, service period	1 year
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, service period	3 years
Vested intrinsic value	$ 44,000,000
Fair value options vested in period	29,000,000
Unrecognized compensation cost, unvested	$ 34,000,000
Weighted average period of recognition for unrecognized compensation cost	1 year 8 months 8 days
Unvested intrinsic value	$ 104,000,000
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum contractual term	6 years 1 month 6 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee purchase, maximum per quarter	$ 3,000
Employee purchase, maximum	$ 12,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Class A Common Stock \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount of the fair market value	15.00%
Common stock authorized (in shares)	21,500,000
Common stock reserved for future issuance (in shares)	10,500,000
Class A Common Stock \| Employee Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
After-tax basis	1.00%
Class A Common Stock \| Employee Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
After-tax basis	20.00%
LTI Plan \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	29,500,000
Number of shares available for issuance (in shares)	27,800,000
Number of shares from initial reserve (in shares)	7,600,000
LTI Plan, initial reserve \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)	20,200,000

Employee Benefit Plans - Benefit Obligation and Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in benefit obligation:
Benefit obligation at beginning of year	$ 3,550	$ 3,806
Service cost	23	27	$ 27
Interest cost	78	64	77
Actuarial gain	(928)	(154)
Benefits paid	(119)	(111)
Settlements	(24)	(33)
Acquisition	202	0
Other	0	(7)
Foreign currency translation adjustments	(148)	(42)
Benefit obligation at end of year	2,634	3,550	3,806
Change in plan assets:
Fair value of plan assets at beginning of year	3,147	3,202
Actual return on plan assets	(850)	83
Employer contributions	32	28
Benefits paid	(119)	(111)
Settlements	(24)	(33)
Acquisition	214	0
Foreign currency translation adjustments	(134)	(22)
Fair value of plan assets at end of year	2,266	3,147	$ 3,202
Funded status - underfunded at end of year	(368)	(403)
Accumulated benefit obligation	$ 2,595	$ 3,497

Income Taxes - Geographic Sources of Income (Loss) before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S.	$ (698)	$ (724)	$ (14,288)
Foreign	720	1,152	(914)
Income (loss) before income taxes	$ 22	$ 428	$ (15,202)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets - Narrative (Details) $ in Millions		9 Months Ended	12 Months Ended
	Oct. 01, 2022 segment	Sep. 30, 2022 segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of operating segments \| segment	2	4
Amortization expense for intangible assets \| $			$ 222	$ 253	$ 308
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated weighted average life (years)			1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated weighted average life (years)			35 years

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (578)	$ (330)	$ (15,761)
Less: Net income (loss) attributable to noncontrolling interests	23	(111)	(5,821)
Net loss attributable to Baker Hughes Company	(601)	(219)	(9,940)
Other comprehensive income (loss):
Investment securities	0	0	(2)
Foreign currency translation adjustments	(269)	(305)	175
Cash flow hedges	2	(16)	(5)
Benefit plans	(14)	170	(125)
Other comprehensive income (loss)	(281)	(151)	43
Less: Other comprehensive loss attributable to noncontrolling interests	(3)	(16)	0
Other comprehensive income (loss) attributable to Baker Hughes Company	(278)	(135)	43
Comprehensive loss	(859)	(481)	(15,718)
Less: Comprehensive income (loss) attributable to noncontrolling interests	20	(127)	(5,821)
Comprehensive loss attributable to Baker Hughes Company	$ (879)	$ (354)	$ (9,897)

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 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 Company ("Baker Hughes", "the Company", "we", "us", or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain. We are a holding company and have no material assets other than our wholly owned operating company, Baker Hughes Holdings LLC ("BHH LLC"). As of December 31, 2022, General Electric Company ("GE") no longer had an economic interest in BHH LLC. As of December 31, 2021, GE's economic interest in BHH LLC was 11.4%. See "Note 13. Equity" for further information. 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 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 annual financial information. The consolidated financial statements include the accounts of Baker Hughes 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 consolidated financial statements and notes, certain amounts have been reclassified to conform with the current year presentation. In the notes to the consolidated financial statements, all dollar and share amounts in tabulations are in millions of dollars and shares, respectively, unless otherwise indicated. Certain columns and rows in our financial statements and notes thereto may not add due to the use of rounded numbers. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of any contingent assets or liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty, and accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. While we believe that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Estimates are used for, but are not limited to, determining the following: allowance for credit losses and inventory valuation reserves; recoverability of long-lived assets; revenue recognition on long-term contracts; valuation of goodwill; useful lives used in depreciation and amortization; income taxes and related valuation allowances; accruals for contingencies; actuarial assumptions to determine costs and liabilities related to employee benefit plans; stock-based compensation expense; valuation of derivatives; and the fair value of assets acquired and liabilities assumed in acquisitions. Foreign Currency Assets and liabilities of non-U.S. operations with a functional currency other than the U.S. dollar have been translated into U.S. dollars using our period end exchange rates, and revenue, expenses, and cash flows have been translated at average rates for the respective periods. Any resulting translation gains and losses are included in other comprehensive income (loss). Gains and losses from foreign currency transactions, such as those resulting from the settlement of receivables or payables in the non-functional currency and those resulting from remeasurements of monetary items of non-U.S. operations where the functional currency is the U.S. dollar, are included in the consolidated statements of income (loss). Revenue from Sale of Equipment Performance Obligations Satisfied Over Time We recognize revenue on agreements for sales of equipment manufactured to unique customer specifications including long-term construction projects, on an over time basis, utilizing cost inputs as the measurement criteria in assessing the progress toward completion. Our estimate of costs to be incurred to fulfill our promise to a customer is based on our history of manufacturing similar assets for customers and is updated routinely to reflect changes in quantity or pricing of the inputs. We begin to recognize revenue on these contracts when the contract specific inventory becomes customized for a customer, which is reflective of our initial transfer of control of the incurred costs. We provide for potential losses on any of these agreements when it is probable that we will incur the loss. Our billing terms for these over time contracts vary, but are generally based on achieving specified milestones. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. Performance Obligations Satisfied at a Point In Time We recognize revenue for non-customized equipment at the point in time that the customer obtains control of the good. Equipment for which we recognize revenue at a point in time includes equipment we manufacture on a standardized basis for sale to the market. We use proof of delivery for certain large equipment with more complex logistics associated with the shipment, whereas the delivery of other equipment is generally determined based on historical data of transit times between regions. On occasion we sell equipment with a right of return. We use our accumulated experience to estimate and provide for such returns when we record the sale. In situations where arrangements include customer acceptance provisions based on seller or customer-specified objective criteria, we recognize revenue when we have concluded that the customer has control of the equipment and that acceptance has or is likely to occur. Our billing terms for these point in time equipment contracts vary, but are generally based on shipment of the equipment to the customer. Revenue from Sale of Services Performance Obligations Satisfied Over Time We sell product services under long-term product maintenance or extended warranty agreements in our Industrial & Energy Technology segment. These agreements require us to maintain the customers' assets over the service agreement contract terms, which generally range from 10 to 20 years. In general, these are contractual arrangements to provide services, repairs, and maintenance of a covered unit (gas turbines for mechanical drive or power generation, primarily on LNG applications). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on an other than straight-line basis. We recognize related sales based on the extent of our progress toward completion measured by actual costs incurred in relation to total expected costs. We provide for any loss that we expect to incur on any of these agreements when that loss becomes probable. The Company utilizes historical customer data, prior product performance data, statistical analysis, third-party data, and internal management estimates to calculate contract-specific margins. In certain contracts, the total transaction price is variable based on customer utilization, which is excluded from the contract margin until the period that the customer has utilized to appropriately reflect the revenue activity in the period earned. In addition, revenue for certain oilfield services is recognized on an over time basis as performed. Our billing terms for these contracts are generally based on asset utilization (i.e. usage per hour) or the occurrence of a major maintenance event within the contract. The differences between the timing of our revenue recognized (based on costs incurred) and customer billings (based on contractual terms) results in changes to our contract asset or contract liability positions. Performance Obligations Satisfied at a Point In Time We sell certain tangible products, largely spare equipment, through our services business. We recognize revenue for this equipment at the point in time that the customer obtains control of the good, which is at the point in time we deliver the spare part to the customer. Our billing terms for these point in time service contracts vary, but are generally based on shipment of the equipment to the customer. Research and Development Research and development costs are expensed as incurred and relate to the research and development of new products and services. These costs amounted to $556 million, $492 million and $595 million for the years ended December 31, 2022, 2021 and 2020, respectively. Research and development expenses were reported in cost of goods sold and cost of services sold. Separation Related Separation related costs relate to activities performed to facilitate the separation from GE including costs for the build-out of certain information technology infrastructures as a result of the separation. Separation activities were substantially completed by the end of 2022. Cash and Cash Equivalents Short-term investments with original maturities of three months or less are included in cash equivalents unless designated as available-for-sale and classified as investment securities. As of December 31, 2022 and 2021, we had $605 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. Allowance for Credit Losses We monitor our customers' payment history and current credit worthiness to determine that collectability of the related financial assets are reasonably assured. We also consider the overall business climate in which our customers operate. For accounts receivable, a loss allowance matrix is utilized to measure lifetime expected credit losses. The matrix contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations. Concentration of Credit Risk Our current receivables are spread over a broad and diverse group of customers across many countries. We grant credit to our customers and perform periodic credit evaluations of our customers' financial conditions, including monitoring our customers' payment history and current credit worthiness to manage this risk. We do not generally require collateral in support of our current receivables, but we may require payment in advance or security in the form of a letter of credit or a bank guarantee. Inventories All inventories are stated at the lower of cost or net realizable values and they are measured on a first-in, first-out ("FIFO") basis or average cost basis. As necessary, we record provisions and maintain reserves for excess, slow moving and obsolete inventory. To determine these reserve amounts, we regularly review inventory quantities on hand and compare them to estimates of future product demand, market conditions, production requirements and technological developments. Property, Plant and Equipment ("PP&E") Property, plant and equipment is initially stated at cost and is depreciated over its estimated economic life. Subsequently, property, plant and equipment is measured at cost less accumulated depreciation, which is generally provided by using the straight-line method over the estimated economic lives of the individual assets, and impairment losses. We manufacture a substantial portion of our tools and equipment in our OFSE segment and the cost of these items, which includes direct and indirect manufacturing costs, is capitalized in inventory and subsequently moved to PP&E. Other Intangible Assets We amortize the cost of other intangible assets over their estimated useful lives unless such lives are deemed indefinite. The cost of intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life. Amortizable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. In these circumstances, they are tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on either discounted cash flows or appraised values. Intangible assets with indefinite lives are tested annually for impairment and written down to fair value as required. Refer to the Impairment of Goodwill and Other Long-Lived Assets accounting policy. Impairment of Goodwill and Other Long-lived Assets We perform an annual impairment test of goodwill on a qualitative or quantitative basis for each of our reporting units as of July 1, or more frequently when circumstances indicate an impairment may exist at the reporting unit level. When performing the annual impairment test we have the option of first performing a qualitative assessment to determine the existence of events and circumstances that would lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If such a conclusion is reached, we would then be required to perform a quantitative impairment assessment of goodwill. However, if the assessment leads to a determination that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then no further assessments are required. A quantitative assessment for the determination of impairment is made by comparing the carrying amount of each reporting unit with its fair value, which is generally calculated using a combination of market, comparable transaction and discounted cash flow approaches. See "Note 5. Goodwill and Other Intangible Assets" for further information on valuation methodology and impairment of goodwill. We review PP&E, intangible assets and certain other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable and at least annually for indefinite-lived intangible assets. When testing for impairment, we group our long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of recoverability is made based upon the estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related assets. Financial Instruments Our financial instruments include cash and equivalents, current receivables, investments, accounts payables, short and long-term debt, and derivative financial instruments. We monitor our exposure to various business risks including commodity prices and foreign currency exchange rates and we regularly use derivative financial instruments to manage these risks. At the inception of a new derivative, we designate the derivative as a hedge or we determine the derivative to be undesignated as a hedging instrument. We document the relationships between the hedging instruments and the hedged items, as well as our risk management objectives and strategy for undertaking various hedge transactions. We assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged item at both the inception of the hedge and on an ongoing basis. We have a program that utilizes foreign currency forward contracts to reduce the risks associated with the effects of certain foreign currency exposures. Under this program, our strategy is to have gains or losses on the foreign currency forward contracts mitigate the foreign currency transaction and translation gains or losses to the extent practical. These foreign currency exposures typically arise from changes in the value of assets (for example, current receivables) and liabilities (for example, current payables) which are denominated in currencies other than the functional currency of the respective entity. We record all derivatives as of the end of our reporting period in our consolidated statements of financial position at fair value. For the forward contracts held as undesignated hedging instruments, we record the changes in fair value of the forward contracts in our consolidated statements of income (loss) along with the change in the fair value, related to foreign exchange movements, of the hedged item. Changes in the fair value of forward contracts designated as cash flow hedging instruments are recognized in other comprehensive income until the hedged item is recognized in earnings. Fair Value Measurements For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: •Level 1 - Quoted prices for identical instruments in active markets. •Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. •Level 3 - Significant inputs to the valuation model are unobservable. We maintain policies and procedures to value instruments using the best and most relevant data available. In addition, we perform reviews to assess the reasonableness of the valuations. With regard to Level 3 valuations (including instruments valued by third parties), we perform a variety of procedures to assess the reasonableness of the valuations. Such reviews include an evaluation of instruments whose fair value change exceeds predefined thresholds (and/or does not change) and consider the current interest rate, currency and credit environment, as well as other published data, such as rating agency market reports and current appraisals. Recurring Fair Value Measurements Derivatives When we have Level 1 derivatives, which are traded either on exchanges or liquid over-the-counter markets, we use closing prices for valuation. The majority of our derivatives are valued using internal models and are included in Level 2. These internal models maximize the use of market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent foreign currency and commodity forward contracts for the Company. Investments in Debt and Equity Securities When available, we use quoted market prices to determine the fair value of investment securities, and they are included in Level 1. Level 1 securities primarily include publicly traded equity securities. For investment securities for which market prices are observable for identical or similar investment securities but not readily accessible for each of those investments individually (that is, it is difficult to obtain pricing information for each individual investment security at the measurement date), we use pricing models that are consistent with what other market participants would use. The inputs and assumptions to the models are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. Thus, certain securities may not be priced using quoted prices, but rather determined from market observable information. These investments are included in Level 2. When we use valuations that are based on significant unobservable inputs we classify the investment securities in Level 3. Non-Recurring Fair Value Measurements Certain assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments only in certain circumstances. These assets can include long-lived assets that have been reduced to fair value when they are held for sale, equity securities without readily determinable fair value, equity method investments and long-lived assets that are written down to fair value when they are impaired, and the remeasurement of retained investments in formerly consolidated subsidiaries upon a change in control that results in a deconsolidation of a subsidiary, if we sell a controlling interest and retain a noncontrolling stake in the entity. Investments in Equity Securities Investments in equity securities (of entities in which we do not have either a controlling financial interest or significant influence, most often because we hold a voting interest of 0% to 20%) with readily determinable fair values are measured at fair value with changes in fair value recognized in earnings and reported in "other non- operating income (loss), net" in the consolidated statements of income (loss). Equity securities that do not have readily determinable fair values are recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar equity securities of the same issuer. These changes are recorded in "other non-operating income (loss), net" in the consolidated statements of income (loss). Equity method investments are equity holdings in entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. The results of our equity method investments are presented in the consolidated statements of income (loss) as follows: (i) if the investment is integral to our operations, their results are included in "Selling, general and administrative," and (ii) if the investment is not integral to our operations, their results are included in "Other non-operating income (loss), net." Investments in, and advances to, equity method investments are presented on a one-line basis in the caption "All other assets" in our consolidated statements of financial position. Income Taxes We file U.S. federal and state income tax returns which primarily includes our distributive share of items of income, gain, loss and deduction of BHH LLC, which is treated as a partnership for U.S. tax purposes. As such, BHH LLC will not itself be subject to U.S. federal income tax under current U.S. tax laws. Non-U.S. current and deferred income taxes owed by the subsidiaries of BHH LLC are reflected in the financial statements. We account for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and the tax base of assets and liabilities based on enacted tax rates expected to be in effect when taxes are actually paid or recovered, as well as for net operating losses and tax credit carryforwards. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period in which such change is enacted. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes is not more likely than not to be realized. We provide U.S. deferred taxes on our outside basis difference in our investment in BHH LLC. In determining this outside basis difference, we exclude non-deductible goodwill and the basis difference related to certain foreign corporations owned by BHH LLC where the undistributed earnings of the foreign corporation have been, or will be, reinvested indefinitely. Indefinite reinvestment is determined by management’s judgment and intentions concerning the future operations of the Company. In cases where repatriation would incur significant withholding or income taxes, these foreign earnings have been indefinitely reinvested in the Company’s active non-U.S. business operations. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis difference is not practicable. Significant judgment is required in determining our tax expense and in evaluating our tax positions, including evaluating uncertainties. Our tax filings are subject to audit by the tax authorities in the jurisdictions where we conduct business. These audits may result in assessments of additional taxes that are resolved with the tax authorities or through the courts. We have provided for the amounts that we believe will ultimately result from these proceedings. We recognize uncertain tax positions that are “more likely than not” to be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, we measure the amount of tax benefit based on the largest amount of tax benefit that has a greater than 50% chance of being realized in a final settlement with the relevant authority. We classify interest and penalties associated with uncertain tax positions as income tax expense. The effects of tax adjustments and settlements from taxing authorities are presented in financial statements in the period they are finalized. Environmental Liabilities We are involved in numerous remediation actions to clean up hazardous waste as required by federal and state laws. Liabilities for remediation costs exclude possible insurance recoveries and, when dates and amounts of such costs are not known, are not discounted. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low end of such range. It is reasonably possible that our environmental remediation exposure will exceed amounts accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual sites, such amounts are not reasonably estimable. The determination of the required accruals for remediation costs is subject to uncertainty, including the evolving nature of environmental regulations and the difficulty in estimating the extent and type of remediation activity that is necessary. 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.

Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Equity

EQUITY

COMMON STOCK

We are authorized to issue 2 billion shares of Class A common stock, 1.25 billion shares of Class B common stock and 50 million shares of preferred stock each of which have a par value of $0.0001 per share. The number of shares of Class A common stock and Class B common stock outstanding at December 31, 2022 is 1,006 million and nil, respectively. We have not issued any preferred stock. Each share of Class A and Class B common stock and the associated membership interest in BHH LLC form a paired interest. While each share of Class B common stock has equal voting rights to a share of Class A common stock, it has no economic rights, meaning holders of Class B common stock have no right to dividends or any assets in the event of liquidation of the Company. Class B common stock is entitled through their ownership of BHH LLC common units ("LLC Units") to receive distributions on an equal amount of any dividend paid by the Company. GE previously owned all the issued and outstanding

Class B common stock, however, during the fourth quarter of 2022, GE completed the exchange of their remaining Class B common stock and as of December 31, 2022, GE no longer owns any Class B common stock nor the associated common units in BHH LLC.

In 2022, our Board of Directors authorized an increase to our repurchase program of $2 billion of additional Class A common stock and LLC units for each of the Company and BHH LLC, respectively, increasing its existing repurchase authorization of $2 billion to $4 billion. We expect to fund the repurchase program from cash generated from operations, and we expect to make share repurchases from time to time subject to the Company's capital plan, market conditions, and other factors, including regulatory restrictions. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. In 2022 and 2021, the Company and BHH LLC repurchased and canceled 29.7 million and 17.6 million shares of Class A common stock and LLC Units, each for $828 million and $434 million, representing an average price per share of $27.91 and $24.63, respectively. As of December 31, 2022, the Company and BHH LLC had authorization remaining to repurchase up to approximately $2.8 billion of its Class A common stock and LLC Units, respectively.

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


	2022		2021
	Class A Common Stock	Class B Common Stock	Class A Common Stock	Class B Common Stock
Balance at beginning of year	909,142	116,548	723,999	311,433
Issue of shares upon vesting of restricted stock units (1)	6,316	—	4,968	—
Issue of shares on exercises of stock options (1)	1,632	—	408	—
Issue of shares for employee stock purchase plan	2,017	—	2,510	—
Exchange of Class B common stock for Class A common stock (2)	116,548	(116,548)	194,885	(194,885)
Repurchase and cancellation of Class A common stock	(29,694)	—	(17,628)	—
Balance at end of year	1,005,960	—	909,142	116,548

(1) Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.

During 2022 and 2021, the Company declared and paid aggregate regular dividends of $0.73 and $0.72 per share, respectively, to holders of record of the Company's Class A common stock.

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

The following table presents 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, 2020	$	(1,464)	$	3	$	(317)	$	(1,778)
Other comprehensive income (loss) before reclassifications	(344)		(11)		135		(220)
Amounts reclassified from accumulated other comprehensive loss	39		(7)		38		70
Deferred taxes	—		2		(3)		(1)
Other comprehensive income (loss)	(305)		(16)		170		(151)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(38)		(3)		25		(16)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	394		—		78		472

Balance at December 31, 2021	(2,125)		(10)		(250)		(2,385)
Other comprehensive income (loss) before reclassifications	(294)		(1)		2		(293)
Amounts reclassified from accumulated other comprehensive loss	25		3		27		55
Deferred taxes	—		—		(43)		(43)
Other comprehensive income (loss)	(269)		2		(14)		(281)
Less: Other comprehensive loss attributable to noncontrolling interests	(3)		—		—		(3)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	275		1		32		308

Balance at December 31, 2022	$	(2,666)	$	(9)	$	(296)	$	(2,971)

The amounts reclassified from accumulated other comprehensive loss during the years ended December 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, settlements, and curtailments which are included in the computation of net periodic pension cost (see "Note 10. Employee Benefit Plans" for additional details), and (iii) the release of foreign currency translation adjustments (see "Note 20. 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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+ Details

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Operating & capital loss carryforwards	$ 2,074	$ 2,297
Tax credit & other carryforwards	1,087	1,183
Investment in partnership	846	457
Property	128	156
Employee benefits	62	116
Goodwill and other intangibles	46	97
Receivables	94	72
Inventory	52	61
Other	163	111
Total deferred income tax asset	4,552	4,550
Valuation allowances	(4,090)	(3,928)
Total deferred income tax asset after valuation allowance	462	622
Deferred tax liabilities:
Other	(34)	(14)
Total deferred income tax liability	(34)	(14)
Net deferred tax asset	$ 428	$ 608

Businesses Held for Sale (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities of Businesses Held for Sale and All Other Current Assets and All Other Current Liabilities


Assets and liabilities of business held for sale	Nexus Controls
Assets
Current receivables	$	59

Inventories	36
Property, plant and equipment	2
Goodwill	230
Other assets	10

Total assets of business held for sale	337

Liabilities

Accounts payable	30
All other current liabilities	56
Other liabilities	7
Total liabilities of business held for sale	93
Total net assets of business held for sale	$	244

- Definition

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

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+ Details

Borrowings - Maturities of Debt Schedule (Details) $ in Millions	Dec. 31, 2022 USD ($)
Debt
2023	$ 677
2024	150
2025	14
2026	611
2027	1,280
Thereafter	$ 3,926

Supplementary Information - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts
Balance at beginning of year	$ 400	$ 373
Provision	69	111
Write-offs	(34)	(23)
Prior year recoveries	(44)	(39)
Other	(50)	(22)
Balance at end of year	$ 341	$ 400

Employee Benefit Plans - Assumptions Used for Benefit Obligation (Details) - Pension Benefits	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.89%	2.15%
Rate of compensation increase	3.30%	3.21%
Interest crediting rate	4.31%	2.60%

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Feb. 06, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-38143
Entity Registrant Name	Baker Hughes Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4403168
Entity Address, Address Line One	17021 Aldine Westfield Road
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	Class A Common Stock, $0.0001 Par Value per Share
Trading Symbol	BKR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 26,299,951,662
Entity Common Stock, Shares Outstanding		1,011,217,705
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Registrant's Definitive Proxy Statement for the 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001701605
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Progress Collections and Deferred Income

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Progress Collections and Deferred Income

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 at December 31:


	2022		2021
Progress collections	$	3,713	$	3,108
Deferred income	109		124
Progress collections and deferred income (contract liabilities)	$	3,822	$	3,232

Revenue recognized during the years ended December 31, 2022 and 2021 that was included in the contract liabilities at the beginning of the year was $2,185 million and $2,398 million, respectively.

REVENUE RELATED TO CONTRACTS WITH CUSTOMERS

DISAGGREGATED REVENUE

We disaggregate our OFSE and IET segment revenue from contracts with customers by product lines. See "Note 17. Segment Information" for further details.


Total Revenue	2022		2021		2020
Well Construction	$	3,854	$	3,301	$	3,257
Completions, Intervention & Measurements	3,559		3,106		3,614
Production Solutions	3,587		3,135		3,269
Subsea & Surface Pressure Systems	2,230		2,486		2,844
Oilfield Services & Equipment	13,229		12,028		12,984
Gas Technology - Equipment	2,560		2,916		2,421
Gas Technology - Services	2,441		2,700		2,475
Total Gas Technology	5,002		5,616		4,896
Condition Monitoring	545		562		581
Inspection	995		949		865
Pumps, Valves & Gears	826		801		809
PSI & Controls	559		546		570
Total Industrial Technology	2,925		2,857		2,824
Industrial & Energy Technology	7,926		8,473		7,721
Total	$	21,156	$	20,502	$	20,705

In addition, management views OFSE segment revenue from contracts with customers by geographic region:


Oilfield Services & Equipment Geographic Revenue	2022		2021		2020
North America	$	3,764	$	2,904	$	3,107
Latin America	2,099		1,681		1,447
Europe/CIS/Sub-Saharan Africa	2,483		2,865		2,846
Middle East/Asia	4,883		4,579		5,584
Oilfield Services & Equipment	$	13,229	$	12,028	$	12,984

REMAINING PERFORMANCE OBLIGATIONS

As of December 31, 2022 and 2021, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $27.8 billion and $23.6 billion, respectively. As of December 31, 2022, we expect to recognize revenue of approximately 57%, 70% and 88% 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.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation - RSUs (Details) - RSUs shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Units
Outstanding, beginning balance (in shares) \| shares	16,035
Granted (in shares) \| shares	7,203
Vested (in shares) \| shares	(7,719)
Forfeited (in shares) \| shares	(1,177)
Outstanding, ending balance (in shares) \| shares	14,342
Weighted Average Grant Date Fair Value Per Unit
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 21.50
Granted (in dollars per share) \| $ / shares	27.90
Vested (in dollars per share) \| $ / shares	21.99
Forfeited (in dollars per share) \| $ / shares	23.59
Unvested, ending balance (in dollars per share) \| $ / shares	$ 24.31

Revenue Related to Contracts With Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

PROGRESS COLLECTIONS AND DEFERRED INCOME


	2022		2021
Progress collections	$	3,713	$	3,108
Deferred income	109		124
Progress collections and deferred income (contract liabilities)	$	3,822	$	3,232

Revenue recognized during the years ended December 31, 2022 and 2021 that was included in the contract liabilities at the beginning of the year was $2,185 million and $2,398 million, respectively.

REVENUE RELATED TO CONTRACTS WITH CUSTOMERS

DISAGGREGATED REVENUE

We disaggregate our OFSE and IET segment revenue from contracts with customers by product lines. See "Note 17. Segment Information" for further details.


Total Revenue	2022		2021		2020
Well Construction	$	3,854	$	3,301	$	3,257
Completions, Intervention & Measurements	3,559		3,106		3,614
Production Solutions	3,587		3,135		3,269
Subsea & Surface Pressure Systems	2,230		2,486		2,844
Oilfield Services & Equipment	13,229		12,028		12,984
Gas Technology - Equipment	2,560		2,916		2,421
Gas Technology - Services	2,441		2,700		2,475
Total Gas Technology	5,002		5,616		4,896
Condition Monitoring	545		562		581
Inspection	995		949		865
Pumps, Valves & Gears	826		801		809
PSI & Controls	559		546		570
Total Industrial Technology	2,925		2,857		2,824
Industrial & Energy Technology	7,926		8,473		7,721
Total	$	21,156	$	20,502	$	20,705

In addition, management views OFSE segment revenue from contracts with customers by geographic region:


Oilfield Services & Equipment Geographic Revenue	2022		2021		2020
North America	$	3,764	$	2,904	$	3,107
Latin America	2,099		1,681		1,447
Europe/CIS/Sub-Saharan Africa	2,483		2,865		2,846
Middle East/Asia	4,883		4,579		5,584
Oilfield Services & Equipment	$	13,229	$	12,028	$	12,984

REMAINING PERFORMANCE OBLIGATIONS

- Definition

+ References

+ Details

Businesses Held for Sale - Assets and Liabilities of Businesses Held for Sale and All Other Current Assets and All Other Current Liabilities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Assets
Goodwill	$ 230
Sale \| Nexus Controls
Assets
Current receivables	59
Inventories	36
Property, plant and equipment	2
Goodwill	230
Other assets	10
Total assets of business held for sale	337
Liabilities
Accounts payable	30
All other current liabilities	56
Other liabilities	7
Total liabilities of business held for sale	93
Total net assets of business held for sale	$ 244

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Balance at December 31, 2020, gross			$ 24,504
Accumulated impairment at December 31, 2020			(18,527)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 5,959	$ 5,977
Currency exchange and others	(96)	(18)
Disposition	(161)
Acquisitions	458
Total	6,160
Classified as held for sale	(230)
Goodwill, net, ending balance	5,930	5,959
Oilfield Services & Equipment
Goodwill [Line Items]
Balance at December 31, 2020, gross			19,818
Accumulated impairment at December 31, 2020			(18,273)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	1,552	1,545
Currency exchange and others	0	7
Disposition	(161)
Acquisitions	41
Total	1,432
Classified as held for sale	0
Goodwill, net, ending balance	1,432	1,552
Industrial & Energy Technology
Goodwill [Line Items]
Balance at December 31, 2020, gross			4,686
Accumulated impairment at December 31, 2020			$ (254)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	4,407	4,432
Currency exchange and others	(96)	(25)
Disposition	0
Acquisitions	417
Total	4,728
Classified as held for sale	(230)
Goodwill, net, ending balance	$ 4,498	$ 4,407

Income Taxes - Difference between Provision and U.S. Statutory Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total Gross Unrecognized Tax Benefits
Income (loss) before income taxes	$ 22	$ 428	$ (15,202)
Taxes at the U.S. federal statutory income tax rate	5	90	(3,192)
Impact of goodwill impairment	0	0	3,102
Effect of foreign operations	338	216	148
Tax expense (benefit) due to unrecognized tax benefits	(7)	201	35
Tax impact of partnership structure	6	137	(33)
Change in valuation allowances	164	70	494
CARES Act	0	0	(117)
Other - net	94	44	122
Provision for income taxes	$ 600	$ 758	$ 559
Actual income tax rate	2727.30%	177.10%	(3.70%)
Charges associated with the sale and suspension of Russia operations	$ 140
GE \| GE
Total Gross Unrecognized Tax Benefits
Tax expense (benefit) due to unrecognized tax benefits		$ 121
Tax expense due to unrecognized tax benefits		$ 119

Supplementary Information

12 Months Ended

Dec. 31, 2022

Other Liabilities Disclosure [Abstract]

Supplementary Information

SUPPLEMENTARY INFORMATION

ALL OTHER CURRENT LIABILITIES

All other current liabilities as of December 31, 2022 and 2021 include $837 million and $955 million, respectively, of employee related liabilities.

ALLOWANCE FOR CREDIT LOSSES

The change in allowance for credit losses is as follows:


	2022		2021
Balance at beginning of year	$	400	$	373
Provision	69		111
Write-offs	(34)		(23)
Prior year recoveries	(44)		(39)
Other	(50)		(22)
Balance at end of year	$	341	$	400

CASH FLOW DISCLOSURES

Supplemental cash flow disclosures are as follows for the years ended December 31:


	2022		2021		2020
Income taxes paid, net of refunds	$	498	$	314	$	441
Interest paid	$	291	$	305	$	289

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings (Loss)	Accumulated Other Comprehensive Loss	Non-controlling Interests
Beginning balance at Dec. 31, 2019	$ 34,499	$ 0	$ 23,565	$ 0	$ (1,636)	$ 12,570
Comprehensive income (loss):
Net loss	(15,761)			(9,940)		(5,821)
Other comprehensive income (loss)	43				43
Dividends on Class A Common Stock	(488)		(488)
Distributions to GE	(256)					(256)
Effect of exchange of Class B common stock and associated BHH LLC Units for Class A common stock	0		1,317		(185)	(1,132)
Stock-based compensation cost	210		210
Other	(5)		9	(2)		(12)
Ending balance at Dec. 31, 2020	18,242	0	24,613	(9,942)	(1,778)	5,349
Comprehensive income (loss):
Net loss	(330)			(219)		(111)
Other comprehensive income (loss)	(151)				(135)	(16)
Dividends on Class A Common Stock	(592)		(592)
Distributions to GE	(157)					(157)
Effect of exchange of Class B common stock and associated BHH LLC Units for Class A common stock	0		3,584		(477)	(3,107)
Repurchase and cancellation of Class B common stock and associated BHH LLC Units	(434)		(418)		5	(21)
Repurchase and cancellation of Class A common stock	(434)
Stock-based compensation cost	205		205
Other	(37)		(17)	1		(21)
Ending balance at Dec. 31, 2021	16,746	0	27,375	(10,160)	(2,385)	1,916
Comprehensive income (loss):
Net loss	(578)			(601)		23
Other comprehensive income (loss)	(281)				(278)	(3)
Dividends on Class A Common Stock	(726)		(726)
Distributions to GE	(17)					(17)
Effect of exchange of Class B common stock and associated BHH LLC Units for Class A common stock	0		2,060		(309)	(1,751)
Repurchase and cancellation of Class A common stock	(828)		(823)		1	(6)
Stock-based compensation cost	207		207
Other	2		33			(31)
Ending balance at Dec. 31, 2022	$ 14,525	$ 0	$ 28,126	$ (10,761)	$ (2,971)	$ 131

Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

DEFINED BENEFIT PLANS

Certain of our employees are covered by Company sponsored pension plans. We also maintain unfunded end-of-service benefit plans that are mandated in certain countries in which we operate. Our primary plans disclosed in 2022 included four U.S. plans and eight non-U.S. plans, primarily in the UK and Germany, all with plan assets or obligations greater than $20 million. We use a December 31 measurement date for these plans. These defined benefit plans generally provide benefits to employees based on formulas recognizing length of service and earnings; however, the majority of these plans are either frozen or closed to new entrants. We also provide certain postretirement health care benefits, through unfunded plans, to a closed group of U.S. employees who retire and meet certain age and service requirements. The accumulated postretirement benefit obligation related to these plans was $37 million and $50 million at December 31, 2022 and 2021, respectively.

Funded Status

The funded status position represents the difference between the benefit obligation and the plan assets. Our primary plans consist of seven funded plans and five unfunded plans. The projected benefit obligation ("PBO") for pension benefits represents the actuarial present value of benefits attributed to employee services and compensation and includes an assumption about future compensation levels. The accumulated benefit obligation ("ABO") is the actuarial present value of pension benefits attributed to employee service to date at present compensation levels. The ABO differs from the PBO in that the ABO does not include any assumptions about future compensation levels.

Below is the reconciliation of the beginning and ending balances of benefit obligations, fair value of plan assets and the funded status of our defined benefit plans ("Pension Benefits").


	Pension Benefits
	2022		2021
Change in benefit obligation:
Benefit obligation at beginning of year	$	3,550	$	3,806
Service cost	23		27
Interest cost	78		64

Actuarial gain (1)	(928)		(154)
Benefits paid	(119)		(111)

Settlements	(24)		(33)
Acquisition	202		—
Other	—		(7)
Foreign currency translation adjustments	(148)		(42)
Benefit obligation at end of year	2,634		3,550

Change in plan assets:
Fair value of plan assets at beginning of year	3,147		3,202
Actual return on plan assets	(850)		83
Employer contributions	32		28
Benefits paid	(119)		(111)
Settlements	(24)		(33)
Acquisition	214		—

Foreign currency translation adjustments	(134)		(22)
Fair value of plan assets at end of year	2,266		3,147

Funded status - underfunded at end of year	$	(368)	$	(403)

Accumulated benefit obligation	$	2,595	$	3,497

(1)The actuarial gain was primarily related to a change in the discount rate used to measure the benefit obligation for our plans in 2022 and 2021.

The amounts recognized in the consolidated statements of financial position consist of the following at December 31:


	Pension Benefits
	2022		2021
Noncurrent assets	$	58	$	109
Current liabilities	(15)		(17)
Noncurrent liabilities	(411)		(495)
Net amount recognized	$	(368)	$	(403)

Information for the plans with ABOs and PBOs in excess of plan assets is as follows at December 31:


	Pension Benefits
	2022		2021
Projected benefit obligation	$	1,143	$	1,476
Accumulated benefit obligation	$	1,103	$	1,423
Fair value of plan assets	$	717	$	964

We have a U.S. non-qualified supplemental pension plan (“BH SPP”) for certain employees which are included in the benefit obligations and funded status in the tables above. In order to meet a portion of our obligations of the BH SPP, we have established a trust comprised primarily of mutual fund assets. The value of these assets were $34 million and $45 million as of December 31, 2022 and 2021, respectively. These assets are not included as plan assets or in the funded status amounts in the tables above and below.

Net Periodic Cost

The components of net periodic cost are as follows:


	Pension Benefits
	2022		2021		2020
Service cost	$	23	$	27	$	27
Interest cost	78		64		77
Expected return on plan assets	(114)		(130)		(121)
Amortization of prior service credit	1		1		1
Amortization of net actuarial loss	27		40		34
Curtailment / settlement loss	2		2		10

Net periodic cost	$	17	$	4	$	28

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

Assumptions Used in Benefit Calculations

Accounting requirements necessitate the use of assumptions to reflect the uncertainties and the length of time over which the pension obligations will be paid. The actual amount of future benefit payments will depend upon when participants retire, the amount of their benefit at retirement and how long they live. To reflect the obligation in today’s dollars, we discount the future payments using a rate that matches the time frame over which the payments are expected to be made. We also need to assume a long-term rate of return that will be earned on investments used to fund these payments.

Another assumption used is the interest crediting rate for our U.S. qualified cash balance plan. Under the provisions of this pension plan, a hypothetical cash balance account has been established for each participant. Such accounts receive quarterly interest credits based on a prescribed formula.

Weighted average assumptions used to determine benefit obligations for these plans are as follows:


	Pension Benefits
	2022		2021
Discount rate	4.89	%	2.15	%
Rate of compensation increase	3.30	%	3.21	%
Interest crediting rate	4.31	%	2.60	%

Weighted average assumptions used to determine net periodic cost for these plans are as follows:


	Pension Benefits
	2022		2021		2020
Discount rate	2.15	%	1.66	%	2.34	%
Expected long-term return on plan assets	3.85	%	4.07	%	4.20	%
Interest crediting rate	2.60	%	2.60	%	2.60	%

We determine the discount rate using a bond matching model, whereby the weighted average yields on high-quality fixed-income securities have maturities consistent with the timing of benefit payments. Lower discount rates increase the size of the benefit obligations while higher discount rates reduce the size of the benefit obligation. The compensation assumption is used in our active plans to estimate the annual rate at which the pay for plan participants will grow. If the rate of growth assumed increases, the size of the pension obligations will increase.

The expected return on plan assets is the estimated long-term rate of return that will be earned on the investments used to fund the pension obligations. To determine this rate, we consider the current and target composition of plan investments, our historical returns earned, and our expectations about the future.

Accumulated Other Comprehensive Loss

The amount recorded before-tax in accumulated other comprehensive loss related to our defined benefit plans consists of the following at December 31:


	Pension Benefits
	2022		2021
Net actuarial loss	$	348	$	365
Net prior service cost	15		17
Total	$	363	$	382

Plan Assets

We have investment committees that meet regularly to review portfolio returns and to determine asset-mix targets based on asset/liability studies. Third-party investment consultants assist these committees in developing asset allocation strategies to determine our expected rates of return and expected risk for various investment portfolios. The investment committees considered these strategies in the formal establishment of the current asset-mix targets based on the projected risk and return levels for all major asset classes.

The table below presents the fair value of the plan assets at December 31:


	2022		2021
Debt securities
Fixed income and cash investment funds	$	1,482	$	1,890

Equity securities
Global equity securities (1)	180		250
U.S. equity securities (1)	102		222
Insurance contracts	100		112
Real estate	53		59
Private equities	37		48
Other investments (2)	313		566
Total plan assets	$	2,266	$	3,147

(1)Include direct investments and investment funds.

(2)Consists primarily of asset allocation fund investments.

Plan assets valued using Net Asset Value ("NAV") as a practical expedient amounted to $2,157 million and $3,028 million as of December 31, 2022 and 2021, respectively. The percentages of plan assets valued using NAV by investment fund type for equity securities, fixed income and cash, and alternative investments were 13%, 69%, and 18% as of December 31, 2022, respectively, and 16%, 62%, and 22% as of December 31, 2021, respectively. Those investments that were measured at fair value using NAV as a practical expedient were excluded from the fair value hierarchy. The practical expedient was not applied for investments with a fair value of $109 million and $119 million as of December 31, 2022 and 2021, respectively. There were investments classified within Level 3 of $100 million and $112 million for non U.S. insurance contracts as of December 31, 2022 and 2021, respectively.

Other

In April 2022, we initiated the termination of one of our fully funded frozen U.S. defined benefit pension plans (the "Plan"), which would result in the full settlement of our Plan obligations, which at December 31, 2022 was $286 million. The distribution of Plan assets from the pension trust fund pursuant to the termination will not be made until the Plan termination satisfies all regulatory requirements, which we currently expect to occur by the end of 2023. We do not expect the termination to have a material impact on our financial condition, results of operations or cash flows.

Funding Policy

The funding policy for our Pension Benefits is to contribute amounts sufficient to meet minimum funding requirements as set forth in employee benefit and tax laws plus such additional amounts as we may determine to be appropriate. In 2022, we contributed approximately $32 million, which includes benefit payments made directly to the employee for our unfunded plans. We anticipate we will contribute between approximately $15 million to $20 million to our pension plans in 2023.

The following table presents the expected benefit payments for Pension Benefits over the next 10 years. For funded Company sponsored plans, the benefit payments are made by the respective pension trust funds.


Year	Pension Benefits
2023 (1)	$	447
2024	129
2025	133
2026	138
2027	139
2028-2032	730

(1)Includes $286 million related to the Plan termination discussed above.

DEFINED CONTRIBUTION PLANS

Our primary defined contribution plan during 2022 was the Company-sponsored U.S. 401(k) plan ("401(k) Plan"). The 401(k) Plan allows eligible employees to contribute portions of their eligible compensation to an investment trust. The Company matches employee contributions at the rate of $1.00 per $1.00 employee contribution for the first 5% of the employee's eligible compensation, and such contributions vest immediately. In addition, we make cash contributions for all eligible employees of 4% of their eligible compensation and such contributions are fully vested after three years of employment. The 401(k) Plan provides several investment options, for which the employee has sole investment discretion; however, the 401(k) Plan does not offer the Company's common stock as an investment option. Our costs for the 401(k) Plan and several other U.S. and non-U.S. defined contribution plans amounted to $212 million and $194 million in 2022 and 2021, respectively.

We have two non-qualified defined contribution plans that are invested through trusts. The assets and corresponding liabilities were $256 million and $322 million at December 31, 2022 and 2021, respectively, and are included in the captions "All other assets" and "Liabilities for pensions and other postretirement benefits," respectively, in our consolidated statements of financial position.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Provision or Benefit for Income Taxes

The provision for income taxes is comprised of the following:


	2022		2021		2020
Current:
U.S.	$	6	$	11	$	(59)
Foreign	489		614		458
Total current	495		625		399
Deferred:
U.S.	40		(24)		11
Foreign	65		157		149
Total deferred	105		133		160
Provision for income taxes	$	600	$	758	$	559

Schedule of Geographic Sources of Income (Loss) Before Income Taxes

The geographic sources of income (loss) before income taxes are as follows:


	2022		2021		2020
U.S.	$	(698)	$	(724)	$	(14,288)
Foreign	720		1,152		(914)
Income (loss) before income taxes	$	22	$	428	$	(15,202)

Schedule of Difference Between Provision and U.S. Statutory Tax Rate


	2022			2021			2020
Income (loss) before income taxes	$	22		$	428		$	(15,202)

Taxes at the U.S. federal statutory income tax rate	5			90			(3,192)
Impact of goodwill impairment	—			—			3,102
Effect of foreign operations (1)	338			216			148
Tax expense (benefit) due to unrecognized tax benefits	(7)			201			35
Tax impact of partnership structure	6			137			(33)


Change in valuation allowances	164			70			494
CARES Act	—			—			(117)

Other - net	94			44			122
Provision for income taxes (2)	$	600		$	758		$	559
Actual income tax rate	2,727.3		%	177.1		%	(3.7)		%

(1)For December 31, 2022, $140 million of this amount relates to the charges associated with the sale and suspension of our Russia operations.

Schedule of Deferred Tax Assets and Liabilities

The tax effects of our temporary differences and carryforwards are as follows at December 31:


	2022		2021
Deferred tax assets:
Operating & capital loss carryforwards	$	2,074	$	2,297
Tax credit & other carryforwards	1,087		1,183
Investment in partnership	846		457
Property	128		156
Employee benefits	62		116
Goodwill and other intangibles	46		97
Receivables	94		72
Inventory	52		61
Other	163		111
Total deferred income tax asset	4,552		4,550
Valuation allowances	(4,090)		(3,928)
Total deferred income tax asset after valuation allowance	462		622
Deferred tax liabilities:
Other	(34)		(14)
Total deferred income tax liability	(34)		(14)
Net deferred tax asset	$	428	$	608

Schedule of Changes in Gross Unrecognized Tax Benefits

The following table presents the changes in our gross unrecognized tax benefits included in the consolidated statements of financial position.


Asset / (Liability)	2022		2021
Balance at beginning of year	$	(531)	$	(483)
Additions for tax positions of the current year	(19)		(32)
Additions for tax positions of prior years	(99)		(166)
Reductions for tax positions of prior years	100		42
Settlements with tax authorities	24		95
Lapse of statute of limitations	29		13
Balance at end of year	$	(496)	$	(531)

Leases

12 Months Ended

Dec. 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.

The following table presents operating lease expense:


Operating Lease Expense	2022		2021		2020
Long-term fixed lease	$	254	$	255	$	288
Long-term variable lease	48		32		25
Short-term lease (1)	477		440		477
Total operating lease expense	$	779	$	727	$	790

(1)Leases with a term of one year or less, including leases with a term of one month or less.

Cash flows used in operating activities for operating leases approximates our expense for the years ended December 31, 2022, 2021 and 2020.

As of December 31, 2022, maturities of our operating lease liabilities are as follows:


Year	Operating Leases
2023	$	214
2024	175
2025	119
2026	91
2027	58
Thereafter	203
Total lease payments	860
Less: imputed interest	119
Total	$	741

Amounts recognized in the consolidated statements of financial position for operating leases are as follows:


	2022		2021
All other current liabilities	$	189	$	196
All other liabilities	552		624


Total	$	741	$	820

Right-of-use assets of $757 million and $822 million as of December 31, 2022 and 2021, respectively, were included in "All other assets" in our consolidated statements of financial position. The weighted-average remaining lease term for our operating leases was approximately seven years and nine years for the years ended December 31, 2022 and 2021, respectively. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2022 and 2021 was 3.1% and 3.3%, respectively.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plan Funded Status of Defined Benefit Plan (Pension Benefits)

Below is the reconciliation of the beginning and ending balances of benefit obligations, fair value of plan assets and the funded status of our defined benefit plans ("Pension Benefits").


	Pension Benefits
	2022		2021
Change in benefit obligation:
Benefit obligation at beginning of year	$	3,550	$	3,806
Service cost	23		27
Interest cost	78		64

Actuarial gain (1)	(928)		(154)
Benefits paid	(119)		(111)

Settlements	(24)		(33)
Acquisition	202		—
Other	—		(7)
Foreign currency translation adjustments	(148)		(42)
Benefit obligation at end of year	2,634		3,550

Change in plan assets:
Fair value of plan assets at beginning of year	3,147		3,202
Actual return on plan assets	(850)		83
Employer contributions	32		28
Benefits paid	(119)		(111)
Settlements	(24)		(33)
Acquisition	214		—

Foreign currency translation adjustments	(134)		(22)
Fair value of plan assets at end of year	2,266		3,147

Funded status - underfunded at end of year	$	(368)	$	(403)

Accumulated benefit obligation	$	2,595	$	3,497

(1)The actuarial gain was primarily related to a change in the discount rate used to measure the benefit obligation for our plans in 2022 and 2021.

Schedule of Amounts Recognized in the Consolidated Balance Sheets

The amounts recognized in the consolidated statements of financial position consist of the following at December 31:


	Pension Benefits
	2022		2021
Noncurrent assets	$	58	$	109
Current liabilities	(15)		(17)
Noncurrent liabilities	(411)		(495)
Net amount recognized	$	(368)	$	(403)

Schedule of Accumulated Benefit Obligations in Excess of Plan Assets

Information for the plans with ABOs and PBOs in excess of plan assets is as follows at December 31:


	Pension Benefits
	2022		2021
Projected benefit obligation	$	1,143	$	1,476
Accumulated benefit obligation	$	1,103	$	1,423
Fair value of plan assets	$	717	$	964

Schedule of Projected Benefit Obligation in Excess of Plan Assets

Information for the plans with ABOs and PBOs in excess of plan assets is as follows at December 31:


	Pension Benefits
	2022		2021
Projected benefit obligation	$	1,143	$	1,476
Accumulated benefit obligation	$	1,103	$	1,423
Fair value of plan assets	$	717	$	964

Schedule of Net Period Cost (Income)

The components of net periodic cost are as follows:


	Pension Benefits
	2022		2021		2020
Service cost	$	23	$	27	$	27
Interest cost	78		64		77
Expected return on plan assets	(114)		(130)		(121)
Amortization of prior service credit	1		1		1
Amortization of net actuarial loss	27		40		34
Curtailment / settlement loss	2		2		10

Net periodic cost	$	17	$	4	$	28

Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations for these plans are as follows:


	Pension Benefits
	2022		2021
Discount rate	4.89	%	2.15	%
Rate of compensation increase	3.30	%	3.21	%
Interest crediting rate	4.31	%	2.60	%

Schedule of Weighted Average Assumptions Used to Determine Net Periodic Cost

Weighted average assumptions used to determine net periodic cost for these plans are as follows:


	Pension Benefits
	2022		2021		2020
Discount rate	2.15	%	1.66	%	2.34	%
Expected long-term return on plan assets	3.85	%	4.07	%	4.20	%
Interest crediting rate	2.60	%	2.60	%	2.60	%

Schedule of Accumulated Other Comprehensive Loss

The amount recorded before-tax in accumulated other comprehensive loss related to our defined benefit plans consists of the following at December 31:


	Pension Benefits
	2022		2021
Net actuarial loss	$	348	$	365
Net prior service cost	15		17
Total	$	363	$	382

Schedule of Fair Values of the Assets in U.S. Plan

The table below presents the fair value of the plan assets at December 31:


	2022		2021
Debt securities
Fixed income and cash investment funds	$	1,482	$	1,890

Equity securities
Global equity securities (1)	180		250
U.S. equity securities (1)	102		222
Insurance contracts	100		112
Real estate	53		59
Private equities	37		48
Other investments (2)	313		566
Total plan assets	$	2,266	$	3,147

(1)Include direct investments and investment funds.

(2)Consists primarily of asset allocation fund investments.

Schedule of Expected Future Benefit Payments


Year	Pension Benefits
2023 (1)	$	447
2024	129
2025	133
2026	138
2027	139
2028-2032	730

(1)Includes $286 million related to the Plan termination discussed above.

Business Dispositions And Acquisitions	12 Months Ended
Business Dispositions And Acquisitions	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business Dispositions And Acquisitions	BUSINESS DISPOSITIONS AND ACQUISITIONS DISPOSITIONS We completed several business dispositions over the past three years as described below. Any gain or loss on a business disposition is reported in the "Other non-operating income (loss), net" caption of the consolidated statements of income (loss). •During the second quarter of 2022, we took actions to suspend substantially all of our operational activities related to Russia across the Company. In addition, we committed to a plan to sell part of our OFSE Russia business, which met the criteria to be classified as held for sale and was measured and reported at the lower of its carrying value or fair value less costs to sell which resulted in a loss before income taxes of $426 million. In November 2022, we completed the sale of part of our OFSE Russia business to local management for a nominal amount, which resulted in the recognition of an additional loss before income taxes of $25 million. •In October 2021, we closed a transaction with Akastor ASA to create a joint venture company ("JV Company") to deliver global offshore drilling solutions. We contributed our subsea drilling systems business, a division of our OFSE segment, to the JV Company and received as consideration 50% of the shares of the JV Company, cash of $70 million, and a promissory note of $80 million. The transaction resulted in an immaterial gain. •In October 2020, we completed the sale of our surface pressure control flow business, a non-strategic product line in our OFSE segment that provided surface wellhead and surface tree systems for the onshore market. The sale resulted in a loss before income taxes of $137 million. •In June 2020, we completed the sale of our rod lift systems ("RLS") business. RLS was part of our OFSE segment and provided rod lift products, technologies, services and solutions to the oil and gas industry. The sale resulted in a loss before income taxes of $216 million. ACQUISITIONS •During 2022, we completed several acquisitions for total cash consideration of $767 million, net of cash acquired of $50 million, subject to the finalization of post-closing working capital adjustments. The transactions have been accounted for using the acquisition method of accounting and accordingly, assets acquired and liabilities assumed were recorded at their fair values as of the acquisition date. As a result of these acquisitions, we recorded $458 million of goodwill and $211 million of intangible assets. Pro forma results of operations for these acquisitions have not been presented because the effects of these acquisitions were not material to our consolidated financial statements.

Revenue Related to Contracts With Customers - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 27.8	$ 23.6
Within 2 years \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	57.00%
Performance obligations expected to be satisfied, expected timing	2 years
Within 5 years \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	70.00%
Performance obligations expected to be satisfied, expected timing	5 years
Within 15 years \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	88.00%
Performance obligations expected to be satisfied, expected timing	15 years

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock par value (in dollars per share)	$ 0.0001
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock issued (in shares)	1,006,000,000	909,000,000
Common stock outstanding (in shares)	1,006,000,000	909,000,000
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,250,000,000	1,250,000,000
Common stock issued (in shares)	0	117,000,000
Common stock outstanding (in shares)	0	117,000,000

Goodwill and Intangible Assets - Intangible Assets by Type (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 4,725	$ 4,615
Accumulated Amortization	(2,747)	(2,725)
Net	1,978	1,890
Indefinite-lived intangible assets	2,202	2,241
Total intangible assets	6,927	6,856
Total intangible assets	4,180	4,131
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,917	1,922
Accumulated Amortization	(729)	(752)
Net	1,189	1,170
Technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,212	1,090
Accumulated Amortization	(803)	(747)
Net	409	343
Trade names and trademarks
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	287	292
Accumulated Amortization	(175)	(169)
Net	112	123
Capitalized software
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	1,308	1,311
Accumulated Amortization	(1,040)	(1,057)
Net	$ 268	$ 254

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Affiliated Entity \| Purchases, GE and its affiliates
Related Party Transaction [Line Items]
Related party purchases	$ 293		$ 716	$ 804
Affiliated Entity \| Sales of products and services, GE and its affiliates
Related Party Transaction [Line Items]
Revenue from related parties	$ 83		185	212
JV aero-derivative gas turbine products and services
Related Party Transaction [Line Items]
Related party purchases		$ 528	603	$ 642
Accounts payable		$ 110	$ 86
JV aero-derivative gas turbine products and services \| Aeroderivative Joint venture
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners					50.00%
GE \| Affiliated Entity \| Baker Hughes Company
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	5.00%
GE \| JV aero-derivative gas turbine products and services \| Aeroderivative Joint venture
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners					50.00%

Financial Instruments - Economic Hedges (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Embedded derivatives, gain (loss)	$ 0	$ 7,000,000	$ (14,000,000)
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	38,000,000	(3,000,000)	131,000,000
Derivatives not designated as hedging instruments \| Currency exchange contracts \| Cost of goods sold \| Sales of goods
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	24,000,000	(9,000,000)	59,000,000
Derivatives not designated as hedging instruments \| Currency exchange contracts \| Cost of goods sold \| Sales of services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	18,000,000	5,000,000	62,000,000
Derivatives not designated as hedging instruments \| Commodity derivatives \| Cost of goods sold \| Sales of goods
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	(6,000,000)	1,000,000	2,000,000
Derivatives not designated as hedging instruments \| Other derivatives \| Other non-operating income (loss), net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) from derivatives	$ 2,000,000	$ 0	$ 8,000,000

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Changes of RSUs Outstanding and Related Information

The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices):


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested balance at December 31, 2021	16,035	$	21.50
Granted	7,203	27.90
Vested	(7,719)	21.99
Forfeited	(1,177)	23.59
Unvested balance at December 31, 2022	14,342	$	24.31

Schedule of Changes of PSUs Outstanding and Related Information

The following table presents the changes in PSUs outstanding and related information (in thousands, except per unit prices):


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested balance at December 31, 2021	3,702	$	22.57
Granted	1,380	30.76
Vested	(1,268)	22.70
Forfeited	(290)	24.64
Unvested balance at December 31, 2022	3,525	$	25.56

Schedule of Changes in Stock Options Outstanding

The following table presents the changes in stock options outstanding and related information (in thousands, except per option prices):


	Number of Options	Weighted Average Exercise Price Per Option
Outstanding at December 31, 2021	5,249	$	31.25

Exercised	(1,661)	25.82

Expired	(681)	36.97
Outstanding and exercisable at December 31, 2022	2,907	$	33.02

Income Taxes - Changes in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ (531)	$ (483)
Additions for tax positions of the current year	(19)	(32)
Additions for tax positions of prior years	(99)	(166)
Reductions for tax positions of prior years	100	42
Settlements with tax authorities	24	95
Lapse of statute of limitations	29	13
Balance at end of year	$ (496)	$ (531)

Borrowings - Narrative (Details) - USD ($)	12 Months Ended
Borrowings - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Net increase to carrying value	$ 91,000,000	$ 162,000,000
Estimated fair value of debt	5,863,000,000	7,328,000,000
Commercial paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 3,000,000,000
Maturity (no more than)	397 days
BHH LLC \| Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Ownership percentage	100.00%
BHH LLC \| Credit Agreement \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 3,000,000,000
Borrowings	0	$ 0
Senior Notes \| BHH LLC \| Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Long-term debt securities	$ 6,554,000,000