BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION

NOTE 21. BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION. We account for our remaining interest in Baker Hughes (comprising 377.4 million shares and a promissory note receivable) at fair value. At June 30, 2020, the fair value of our interest in Baker Hughes was $5,910 million. Since the date of deconsolidation, we have not sold any shares of Baker Hughes and recognized a pre-tax unrealized gain of $1,846 million ($1,552 million after-tax) and a pre-tax unrealized loss of $3,865 million ($3,080 million after-tax) for the three and six months ended June 30, 2020, respectively, based on a share price of $15.39. See Notes 2 and 3 for further information.

Summarized financial information of Baker Hughes is as follows.

	Three months ended June 30, 2020			Six months ended June 30, 2020
Revenues	$	4,736		$	10,160
Gross profit	678			1,433
Net income (loss)	(355		)	(16,453		)
Net income (loss) attributable to the entity	(201		)	(10,411		)

Baker Hughes is a SEC registrant with separate filing requirements, and its financial information can be obtained from www.sec.gov or www.bakerhughes.com.