EX-99.1 2 bkrsegrecast_111822.htm EX-99.1 bkrsegrecast_111822
1 Copyright 2022 Baker Hughes Company. All rights reserved. Financial Supplement - Baker Hughes and Baker Hughes Holdings LLC (unaudited) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 Well Construction $ 4,222 $ 1,023 $ 767 $ 731 $ 736 $ 3,257 $ 743 $ 800 $ 844 $ 914 $ 3,301 $ 883 $ 936 $ 991 Completions, Intervention & Measurements 4,491 1,112 882 832 788 3,614 716 782 791 817 3,106 781 886 920 Production Solutions 4,175 1,004 762 745 758 3,269 740 777 783 835 3,135 825 866 931 Subsea & Surface Pressure Systems 2,921 712 696 726 712 2,844 628 637 603 619 2,486 528 541 561 Oilfield Services & Equipment 15,809 3,851 3,106 3,034 2,993 12,984 2,827 2,995 3,021 3,185 12,028 3,017 3,230 3,403 Gas Technology - Equipment 1,958 328 402 663 1,028 2,421 733 795 703 686 2,916 543 556 610 Gas Technology - Services 2,710 557 588 625 704 2,475 573 636 661 829 2,700 581 542 629 Total Gas Technology 4,668 885 990 1,289 1,732 4,896 1,306 1,431 1,364 1,516 5,616 1,124 1,098 1,239 Condition Monitoring 647 136 141 141 163 581 136 147 129 149 562 126 133 131 Inspection 1,189 215 197 220 233 865 204 236 249 259 949 212 257 259 Pumps, Valves & Gears 868 200 172 224 214 809 179 197 198 226 801 221 194 199 PSI & Controls 656 138 130 142 160 570 130 136 131 149 546 136 135 138 Total Industrial Technology 3,360 689 640 727 769 2,824 648 717 708 784 2,857 694 718 728 Industrial & Energy Technology 8,028 1,574 1,629 2,016 2,501 7,721 1,954 2,148 2,072 2,300 8,473 1,818 1,816 1,967 Total Revenue $ 23,838 $ 5,425 $ 4,736 $ 5,049 $ 5,495 $ 20,705 $ 4,782 $ 5,142 $ 5,093 $ 5,485 $ 20,502 $ 4,835 $ 5,047 $ 5,369 Table 1. Consolidated Revenue by Reporting Segment and Product Line (in millions) Exhibit 99.1 Table 2. Oilfield Services & Equipment Geographic Revenue (in millions) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 North America $ 5,095 $ 1,139 $ 706 $ 637 $ 625 $ 3,107 $ 681 $ 719 $ 753 $ 751 $ 2,904 $ 823 $ 925 $ 986 Latin America 1,677 454 307 311 374 1,447 379 411 436 454 1,681 440 509 549 Europe/CIS/Sub-Saharan Africa 3,138 768 676 718 684 2,846 649 695 726 795 2,865 660 660 586 Middle East/Asia 5,900 1,489 1,417 1,368 1,310 5,584 1,118 1,170 1,106 1,185 4,579 1,094 1,136 1,282 Oilfield Services & Equipment $ 15,809 $ 3,851 $ 3,106 $ 3,034 $ 2,993 $ 12,984 $ 2,827 $ 2,995 $ 3,021 $ 3,185 $ 12,028 $ 3,017 $ 3,230 $ 3,403 North America $ 5,095 $ 1,139 $ 706 $ 637 $ 625 $ 3,107 $ 681 $ 719 $ 753 $ 751 $ 2,904 $ 823 $ 925 $ 986 International $ 10,714 $ 2,712 $ 2,400 $ 2,397 $ 2,369 $ 9,877 $ 2,146 $ 2,275 $ 2,269 $ 2,434 $ 9,124 $ 2,194 $ 2,305 $ 2,417 Certain columns and rows in our tables may not sum up due to the use of rounded numbers.


 
2 Copyright 2022 Baker Hughes Company. All rights reserved. Financial Supplement - Baker Hughes and Baker Hughes Holdings LLC (unaudited) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 Oilfield Services & Equipment $ 16,419 $ 3,639 $ 3,110 $ 2,728 $ 2,827 $ 12,304 $ 2,544 $ 3,040 $ 3,136 $ 3,077 $ 11,798 $ 3,270 $ 3,392 $ 3,707 Industrial & Energy Technology 10,555 1,893 1,778 2,378 2,361 8,410 1,996 2,053 2,242 3,579 9,870 3,567 2,467 2,357 Total Orders $ 26,973 $ 5,532 $ 4,888 $ 5,106 $ 5,188 $ 20,714 $ 4,541 $ 5,093 $ 5,378 $ 6,656 $ 21,668 $ 6,837 $ 5,860 $ 6,063 Table 3. Orders by Reporting Segment (in millions) Exhibit 99.1 Certain columns and rows in our tables may not sum up due to the use of rounded numbers.


 
3 Copyright 2022 Baker Hughes Company. All rights reserved. Financial Supplement - Baker Hughes (unaudited) Operating Income (loss) by Segment (GAAP) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 Oilfield Services & Equipment $ 972 $ 198 $ 31 $ 112 $ 165 $ 506 $ 147 $ 199 $ 204 $ 280 $ 830 $ 213 $ 249 $ 324 Industrial & Energy Technology 1,062 163 190 237 408 998 231 245 304 397 1,177 241 236 282 Segment operating income 2,035 361 221 349 573 1,504 379 444 508 676 2,006 453 485 606 Corporate (433) (122) (117) (115) (111) (464) (109) (111) (105) (106) (429) (105) (108) (103) Inventory impairment — (160) (16) (42) (27) (246) — — — — — — (31) — Goodwill impairment — (14,773) — — — (14,773) — — — — — — — — Restructuring, impairment and other (342) (1,325) (103) (209) (229) (1,866) (80) (125) (14) 11 (209) (61) (362) (230) Separation related (184) (41) (37) (32) (24) (134) (27) (15) (11) (8) (60) (9) (9) (5) Operating income (loss) $ 1,074 $ (16,059) $ (52) $ (49) $ 182 $ (15,978) $ 164 $ 194 $ 378 $ 574 $ 1,310 $ 279 $ (25) $ 269 Add: Depreciation & Amortization Oilfield Services & Equipment $ 1,160 $ 294 $ 282 $ 252 $ 244 $ 1,072 $ 233 $ 221 $ 205 $ 215 $ 874 $ 222 $ 221 $ 204 Industrial & Energy Technology 219 53 51 57 55 216 52 53 52 52 208 51 49 45 Segment depreciation and amortization 1,379 347 333 309 300 1,288 285 273 257 267 1,082 272 270 249 Corporate 39 8 7 6 7 29 7 5 5 6 23 4 5 5 Total depreciation and amortization $ 1,418 $ 355 $ 340 $ 315 $ 307 $ 1,317 $ 292 $ 278 $ 262 $ 273 $ 1,105 $ 277 $ 275 $ 254 EBITDA by Segment (non-GAAP) Oilfield Services & Equipment $ 2,132 $ 492 $ 313 $ 364 $ 409 $ 1,578 $ 380 $ 420 $ 409 $ 495 $ 1,704 $ 434 $ 470 $ 528 Industrial & Energy Technology 1,281 216 241 293 464 1,214 283 297 356 449 1,385 291 285 327 Segment EBITDA (non-GAAP) 3,413 708 554 657 873 2,792 664 717 765 944 3,088 725 755 855 Corporate (394) (114) (110) (109) (104) (435) (102) (106) (100) (100) (407) (101) (103) (98) Inventory impairment — (160) (16) (42) (27) (246) — — — — — — (31) — Goodwill impairment — (14,773) — — — (14,773) — — — — — — — — Restructuring, impairment and other (342) (1,325) (103) (209) (229) (1,866) (80) (125) (14) 11 (209) (61) (362) (230) Separation related (184) (41) (37) (32) (24) (134) (27) (15) (11) (8) (60) (9) (9) $ (5) EBITDA (non-GAAP) $ 2,493 $ (15,705) $ 288 $ 267 $ 489 $ (14,661) $ 456 $ 472 $ 640 $ 847 $ 2,415 $ 555 $ 250 $ 523 Table 4. Reconciliation of Operating Income (Loss) by Segment (GAAP) to EBITDA (non-GAAP) (in millions) Exhibit 99.1 Certain columns and rows in our tables may not sum up due to the use of rounded numbers.


 
4 Copyright 2022 Baker Hughes Company. All rights reserved. Financial Supplement - Baker Hughes Holdings LLC (unaudited) Operating Income (loss) by Segment (GAAP) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 Oilfield Services & Equipment $ 972 $ 198 $ 31 $ 112 $ 165 $ 506 $ 147 $ 199 $ 204 $ 280 $ 830 $ 213 $ 249 $ 324 Industrial & Energy Technology 1,062 163 190 237 408 998 231 245 304 397 1,177 241 236 282 Segment operating income 2,035 361 221 349 573 1,504 379 444 508 676 2,006 453 485 606 Corporate (433) (122) (117) (115) (111) (464) (109) (111) (105) (106) (429) (105) (108) (103) Inventory impairment — (160) (16) (42) (27) (246) — — — — — — (31) — Goodwill impairment — (14,717) — — — (14,717) — — — — — — — — Restructuring, impairment and other (342) (1,325) (103) (209) (229) (1,866) (80) (125) (14) 11 (209) (61) (362) (230) Separation related (184) (41) (37) (32) (24) (134) (27) (15) (11) (8) (60) (9) (9) (5) Operating income (loss) $ 1,074 $ (16,003) $ (52) $ (49) $ 182 $ (15,922) $ 164 $ 194 $ 378 $ 574 $ 1,310 $ 279 $ (25) $ 269 Add: Depreciation & Amortization Oilfield Services & Equipment $ 1,160 $ 294 $ 282 $ 252 $ 244 $ 1,072 $ 233 $ 221 $ 205 $ 215 $ 874 $ 222 $ 221 $ 204 Industrial & Energy Technology 219 53 51 57 55 216 52 53 52 52 208 51 49 45 Segment depreciation and amortization 1,379 347 333 309 300 1,288 285 273 257 267 1,082 272 270 249 Corporate 39 8 7 6 7 29 7 5 5 6 23 4 5 5 Total depreciation and amortization $ 1,418 $ 355 $ 340 $ 315 $ 307 $ 1,317 $ 292 $ 278 $ 262 $ 273 $ 1,105 $ 277 $ 275 $ 254 EBITDA by Segment (non-GAAP) Oilfield Services & Equipment $ 2,132 $ 492 $ 313 $ 364 $ 409 $ 1,578 $ 380 $ 420 $ 409 $ 495 $ 1,704 $ 434 $ 470 $ 528 Industrial & Energy Technology 1,281 216 241 293 464 1,214 283 297 356 449 1,385 291 285 327 Segment EBITDA (non-GAAP) 3,413 708 554 657 873 2,792 664 717 765 944 3,088 725 755 855 Corporate (394) (114) (110) (109) (104) (435) (102) (106) (100) (100) (407) (101) (103) (98) Inventory impairment — (160) (16) (42) (27) (246) — — — — — — (31) — Goodwill impairment — (14,717) — — — (14,717) — — — — — — — — Restructuring, impairment and other (342) (1,325) (103) (209) (229) (1,866) (80) (125) (14) 11 (209) (61) (362) (230) Separation related (184) (41) (37) (32) (24) (134) (27) (15) (11) (8) (60) (9) (9) $ (5) EBITDA (non-GAAP) $ 2,493 $ (15,649) $ 288 $ 267 $ 489 $ (14,605) $ 456 $ 472 $ 640 $ 847 $ 2,415 $ 555 $ 250 $ 523 Table 5. Reconciliation of Operating Income (Loss) by Segment (GAAP) to EBITDA (non-GAAP) (in millions) Exhibit 99.1 Certain columns and rows in our tables may not sum up due to the use of rounded numbers. The Financial Supplement for BHH LLC is the same for all periods presented as compared to Baker Hughes, except for 1Q 2020 and FY 2020.