Baker Hughes (BKR) 10-K 25 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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	NYSE
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			$ 5,492,452,024
Documents Incorporated by Reference	Portions of Registrant's Definitive Proxy Statement for the 2021 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	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		728,963,146
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		311,432,660

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenues	$ 20,705	$ 23,838	$ 22,877
Costs and expenses:
Selling, general and administrative	2,404	2,832	2,699
Goodwill impairment	14,773	0	0
Restructuring, impairment and other	1,866	342	433
Separation and merger related	134	184	153
Total costs and expenses	36,683	22,764	22,176
Operating income (loss)	(15,978)	1,074	701
Other non-operating income (loss), net	1,040	(84)	202
Interest expense, net	(264)	(237)	(223)
Income (loss) before income taxes and equity in loss of affiliate	(15,202)	753	680
Equity in loss of affiliate	0	0	(139)
Provision for income taxes	(559)	(482)	(258)
Net income (loss)	(15,761)	271	283
Less: Net income (loss) attributable to noncontrolling interests	(5,821)	143	88
Net income (loss) attributable to Baker Hughes Company	$ (9,940)	$ 128	$ 195
Per share amounts:
Basic earnings (loss) per Class A common share (in dollars per share)	$ (14.73)	$ 0.23	$ 0.46
Diluted earnings (loss) per Class A common share (in dollars per share)	(14.73)	0.23	0.45
Class A
Per share amounts:
Basic earnings (loss) per Class A common share (in dollars per share)	(14.73)	0.23	0.46
Diluted earnings (loss) per Class A common share (in dollars per share)	(14.73)	0.23	0.45
Dividends (in dollars per share)	$ 0.72	$ 0.72	$ 0.72
Sales of goods
Revenue:
Revenues	$ 12,846	$ 13,689	$ 13,113
Costs and expenses:
Cost	11,383	11,798	11,524
Sales of services
Revenue:
Revenues	7,859	10,149	9,764
Costs and expenses:
Cost	$ 6,123	$ 7,608	$ 7,367

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (15,761)	$ 271	$ 283
Less: Net income (loss) attributable to noncontrolling interests	(5,821)	143	88
Net income (loss) attributable to Baker Hughes Company	(9,940)	128	195
Other comprehensive income (loss):
Investment securities	(2)	2	(3)
Foreign currency translation adjustments	175	53	(502)
Cash flow hedges	(5)	12
Cash flow hedges			(4)
Benefit plans	(125)	(75)	(64)
Other comprehensive income (loss)	43	(8)	(573)
Less: Other comprehensive loss attributable to noncontrolling interests	0	(1)	(343)
Other comprehensive income (loss) attributable to Baker Hughes Company	43	(7)	(230)
Comprehensive income (loss)	(15,718)	263	(290)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(5,821)	142	(255)
Comprehensive income (loss) attributable to Baker Hughes Company	$ (9,897)	$ 121	$ (35)

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	[1]	$ 4,132	$ 3,249
Current receivables, net		5,622	6,416
Inventories, net		4,421	4,608
All other current assets		2,280	949
Total current assets		16,455	15,222
Property, plant and equipment, less accumulated depreciation		5,358	6,240
Goodwill		5,977	20,690
Other intangible assets, net		4,397	5,381
Contract and other deferred assets		2,001	1,881
All other assets		2,866	3,001
Deferred income taxes		953	954
Total assets	[1]	38,007	53,369
Current Liabilities:
Accounts payable		3,532	4,268
Short-term debt and current portion of long-term debt	[1]	889	321
Progress collections and deferred income		3,454	2,870
All other current liabilities		2,352	2,555
Total current liabilities		10,227	10,014
Long-term debt		6,744	6,301
Deferred income taxes		186	51
Liabilities for pensions and other employee benefits		1,217	1,079
All other liabilities		1,391	1,425
Equity:
Capital in excess of par value		24,613	23,565
Retained loss		(9,942)	0
Accumulated other comprehensive loss		(1,778)	(1,636)
Baker Hughes Company equity		12,893	21,929
Noncontrolling interests		5,349	12,570
Total equity		18,242	34,499
Total liabilities and equity		38,007	53,369
Class A
Equity:
Common stock		0	0
Class B
Equity:
Common stock		$ 0	$ 0
[1]	Total assets include $45 million and $273 million of assets held on behalf of GE, of which $44 million and $162 million is cash and cash equivalents and $1 million and $111 million is investment securities at December 31, 2020 and 2019, respectively, and a corresponding amount of liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details.

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Common stock par value (in dollars per share)	$ 0.0001
Investment securities	$ 1,532	$ 283
Related party amount, due to related party | GE
Assets held on behalf of GE	45	273
Cash and cash equivalents held on behalf of GE	44	162
Investment securities	$ 1	$ 111
Class A
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)	724,000,000	650,000,000
Common stock outstanding (in shares)	724,000,000	650,000,000
Class B
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)	311,000,000	377,000,000
Common stock outstanding (in shares)	311,000,000	377,000,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total	Effect of adoption of ASU 2016-16 on taxes	Common Stock	Capital in Excess of Par Value	Retained Earnings (Loss)	Retained Earnings (Loss)Effect of adoption of ASU 2016-16 on taxes	Accumulated Other Comprehensive Loss	Non-controlling Interests	Non-controlling InterestsEffect of adoption of ASU 2016-16 on taxes
Beginning balance at Dec. 31, 2017	$ 38,410	$ 67	$ 0	$ 15,083	$ (103)	$ 25	$ (703)	$ 24,133	$ 42
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	283				195			88
Other comprehensive loss	(573)						(230)	(343)
Dividend	(315)			(224)	(91)
Distributions to GE	(495)							(495)
Effect of exchange of Class B common stock and associated BHH LLC Units for Class A common stock	0			3,638			(230)	(3,408)
Repurchase and cancellation of Class B common stock and associated BHH LLC Units	(2,087)			405			(52)	(2,440)
Repurchase and cancellation of Class A common stock	(374)			(374)
Stock-based compensation cost	121			121
Other	(24)			10	(1)		(4)	(29)
Ending balance at Dec. 31, 2018	35,013		0	18,659	25		(1,219)	17,548
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	271				128			143
Other comprehensive loss	(8)						(7)	(1)
Dividend	(395)			(241)	(154)
Distributions to GE	(350)							(350)
Effect of exchange of Class B common stock and associated BHH LLC Units for Class A common stock	0			4,740			(332)	(4,408)
Repurchase and cancellation of Class B common stock and associated BHH LLC Units	(250)			107			(18)	(339)
Stock-based compensation cost	187			187
Other	31			113	1		(60)	(23)
Ending balance at Dec. 31, 2019	34,499		0	23,565	0		(1,636)	12,570
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(15,761)				(9,940)			(5,821)
Other comprehensive loss	43						43
Dividend	(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

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2020$ / shares
Accounting Standards Update [Extensible List]	bkr:AccountingStandardsUpdate2016-16Member
Class A
Dividends (in dollars per share)	$ 0.72

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (15,761,000,000)		$ 271,000,000		$ 283,000,000
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	1,317,000,000		1,418,000,000		1,486,000,000
Goodwill impairment	14,773,000,000		0		0
Intangible assets impairment	729,000,000		0		0
Property, plant and equipment impairment	461,000,000		107,000,000		80,000,000
Inventory impairment	246,000,000		0		105,000,000
Loss (gain) on business dispositions	353,000,000		138,000,000		(171,000,000)
Provision (benefit) for deferred income taxes	160,000,000		51,000,000		(249,000,000)
Unrealized gain on equity security	(1,417,000,000)		0		0
Equity in loss of affiliate	0		0		139,000,000
Changes in operating assets and liabilities:
Current receivables	680,000,000		(583,000,000)		(204,000,000)
Inventories	(80,000,000)		(200,000,000)		(339,000,000)
Accounts payable	(711,000,000)		249,000,000		794,000,000
Progress collections and deferred income	396,000,000		1,147,000,000		(27,000,000)
Contract and other deferred assets	(69,000,000)		(60,000,000)		129,000,000
Other operating items, net	227,000,000		(412,000,000)		(264,000,000)
Net cash flows from operating activities	1,304,000,000		2,126,000,000		1,762,000,000
Cash flows from investing activities:
Expenditures for capital assets	(974,000,000)		(1,240,000,000)		(995,000,000)
Proceeds from disposal of assets	187,000,000		264,000,000		458,000,000
Proceeds from business dispositions	187,000,000		77,000,000		453,000,000
Net cash paid for business interests	(26,000,000)		(176,000,000)		(530,000,000)
Other investing items, net	8,000,000		30,000,000		36,000,000
Net cash flows used in investing activities	(618,000,000)		(1,045,000,000)		(578,000,000)
Cash flows from financing activities:
Net repayments of short-term debt	(204,000,000)		(542,000,000)		(376,000,000)
Proceeds from the issuance of long-term debt	500,000,000		525,000,000		0
Proceeds from issuance of commercial paper	737,000,000		0		0
Repayments of long-term debt	(42,000,000)		(570,000,000)		(684,000,000)
Dividends paid	(488,000,000)		(395,000,000)		(315,000,000)
Distributions to GE	(256,000,000)		(350,000,000)		(495,000,000)
Repurchase of Class A common stock	0		0		(387,000,000)
Repurchase of common units from GE by BHH LLC	0		(250,000,000)		(2,099,000,000)
Other financing items, net	(22,000,000)		48,000,000		(7,000,000)
Net cash flows from (used in) financing activities	225,000,000		(1,534,000,000)		(4,363,000,000)
Effect of currency exchange rate changes on cash and cash equivalents	(28,000,000)		(21,000,000)		(128,000,000)
Increase (decrease) in cash and cash equivalents	883,000,000		(474,000,000)		(3,307,000,000)
Cash and cash equivalents, beginning of period	3,249,000,000	[1]	3,723,000,000		7,030,000,000
Cash and cash equivalents, end of period	$ 4,132,000,000	[1]	$ 3,249,000,000	[1]	$ 3,723,000,000
[1]	Total assets include $45 million and $273 million of assets held on behalf of GE, of which $44 million and $162 million is cash and cash equivalents and $1 million and $111 million is investment securities at December 31, 2020 and 2019, respectively, and a corresponding amount of liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
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. The Company was formed as the result of a combination between Baker Hughes Incorporated (BHI) and the oil and gas business (GE O&G) of General Electric Company (GE) (the Transactions). As of September 16, 2019, GE ceased to hold more than 50% of the voting power of all classes of our outstanding voting stock. Subsequently, on October 17, 2019, the Company changed its name from Baker Hughes, a GE company to Baker Hughes Company. On October 18, 2019, the Company began trading as BKR on the New York Stock Exchange. 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. All intercompany accounts and transactions have been eliminated. We hold a majority economic interest in Baker Hughes Holdings LLC (BHH LLC) and conduct and exercise full control over all activities of BHH LLC without the approval of any other member. Accordingly, we consolidate the financial results of BHH LLC and report a noncontrolling interest in our consolidated financial statements for the economic interest held by GE. As of December 31, 2020, GE's economic interest in BHH LLC was 30.1%. See "Note 14. Equity" for further information. 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, including 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; and expense allocations for certain corporate functions and shared services provided by GE. 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, 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 goods 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 include goods 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 products 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 goods and that acceptance is likely to occur. Our billing terms for these point in time equipment contracts vary, but are generally based on shipment of the goods 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 Turbomachinery & Process Solutions and Oilfield Equipment segments. 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, drilling rigs). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on other than a 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 is 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 goods 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 $595 million, $687 million and $700 million for the years ended December 31, 2020, 2019 and 2018, respectively. Research and development expenses were reported in cost of goods sold and cost of services sold. Separation and Merger Related In 2020 and 2019, separation and merger related costs primarily include costs incurred in connection with the separation from GE and the finalization of the Master Agreement Framework and Omnibus Agreement. Prior to 2019, separation and merger related costs primarily include costs associated with the combination of BHI and GE O&G. 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, 2020 and 2019, we had $687 million and $1,102 million, respectively, of cash held in bank accounts that cannot be released, transferred or otherwise converted into a currency that is regularly transacted internationally, due to lack of market liquidity, capital controls or similar monetary or exchange limitations limiting the flow of capital out of the jurisdiction. These funds are available to fund operations and growth in these jurisdictions and we do not currently anticipate a need to transfer these funds to the U.S. Included in these amounts are $42 million and $142 million, as of December 31, 2020 and 2019, respectively, held on behalf of GE. Cash and cash equivalents includes a total of $44 million and $162 million of cash at December 31, 2020 and 2019, respectively, held on behalf of GE, and a corresponding liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details. 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 We grant credit to our customers who primarily operate in the oil and natural gas industry. Although this concentration affects our overall exposure to credit risk, our current receivables are spread over a diverse group of customers across many countries, which mitigates this risk. We 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 OFS 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 6. 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 statement 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. These assets are not measured at fair value on an ongoing basis, but 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 and 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. Assets that are written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs. 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). Associated companies are 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%. Associated companies are accounted for as equity method investments. The results of associated companies are presented in the consolidated statements of income (loss) as follows: (i) if the associated company is integral to our operations, their results are included in "Selling, general and administrative," (ii) if the associated company is not integral to our operations, their results are included in "Other non-operating income (loss), net," and (iii) our equity method investment in BJ Services, which was a Delaware limited liability company, is presented in "Equity in loss of affiliate." Investments in, and advances to, associated companies are presented on a one-line basis in the caption "All other assets" in our consolidated statement of financial position. Income Taxes We file U.S. federal and state income tax returns which after the closing of the Transactions 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 tax return bases of assets and liabilities as well as from net operating losses and tax credit carryforwards, based on enacted tax rates expected to be in effect when taxes actually are paid or recovered and other provisions of the tax law. 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 may not more likely than not 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 otherwise 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. We operate in more than 120 countries and 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 recorded. Additionally, as part of U.S. tax reform, the U.S. has enacted a tax on "base eroding" payments from the U.S. and a minimum tax on foreign earnings (global intangible low-taxed income). In 2018, we made an accounting policy election to account for these taxes as period costs. 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 ADOPTED Financial Instruments - Credit Losses On January 1, 2020, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses. The ASU introduces a new accounting model, the Current Expected Credit Losses model (CECL), which requires earlier recognition of credit losses and additional disclosures related to credit risk. The CECL model utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses for loans and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. This model replaces the multiple existing impairment models previously used under U.S. GAAP, which generally require that a loss be incurred before it is recognized. The new standard also applies to financial assets arising from revenue transactions such as contract assets and accounts receivables. The adoption did not have a material impact on our consolidated financial statements. Intangibles - Goodwill and Other On January 1, 2020, we adopted FASB ASU No. 2017-04, Intangibles - Goodwill and Other - Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating the requirement to calculate the fair value of the individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the new ASU, when required to test goodwill for recoverability, an entity will perform its goodwill impairment test by comparing the fair value of the reporting unit with its carrying value and should recognize an impairment charge for the amount by which the carrying value exceeds the fair value of the reporting unit. We have applied this ASU on a prospective basis. See "Note 6. Goodwill and Other Intangible Assets" for further details. NEW ACCOUNTING STANDARDS TO BE ADOPTED All other new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

Revenue Related to Contracts Wi

Revenue Related to Contracts With Customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Related to Contracts with Customers	REVENUE RELATED TO CONTRACTS WITH CUSTOMERS DISAGGREGATED REVENUE We disaggregate our revenue from contracts with customers by primary geographic markets. Total Revenue 2020 2019 2018 U.S. $ 4,638 $ 6,188 $ 6,576 Non-U.S. 16,067 17,650 16,301 Total $ 20,705 $ 23,838 $ 22,877 REMAINING PERFORMANCE OBLIGATIONS As of December 31, 2020 and 2019, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $23.4 billion and $22.9 billion, respectively. As of December 31, 2020, we expect to recognize revenue of approximately 51%, 67% and 90% 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. 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: 2020 2019 Progress collections $ 3,352 $ 2,760 Deferred income 102 110 Progress collections and deferred income (contract liabilities) $ 3,454 $ 2,870 Revenue recognized during the year ended December 31, 2020 and 2019 that was included in the contract liabilities at the beginning of the year was $1,962 million and $1,239 million, respectively.

Current Receivables

Current Receivables	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Current Receivables	CURRENT RECEIVABLES Current receivables are comprised of the following at December 31: 2020 2019 Customer receivables $ 4,676 $ 5,448 Related parties 429 495 Other 890 796 Total current receivables 5,995 6,739 Less: Allowance for credit losses (373) (323) Total current receivables, net $ 5,622 $ 6,416 Customer receivables are recorded at the invoiced amount. Related parties consists primarily of amounts owed to us by GE. The "Other" category consists primarily of indirect taxes, advance payments to suppliers, other tax receivables and customer retentions.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventory, Net [Abstract]
Inventories	INVENTORIES Inventories, net of reserves of $421 million and $429 million in 2020 and 2019, respectively, are comprised of the following at December 31: 2020 2019 Finished goods $ 2,337 $ 2,546 Work in process and raw materials 2,084 2,062 Total inventories, net $ 4,421 $ 4,608 We recorded inventory impairments of $246 million, nil, and $105 million for the years ended December 31, 2020, 2019, and 2018, respectively. Inventory impairments in 2020 and 2018 are predominantly in our Oilfield Services segment and Oilfield Equipment segment, respectively, as a result of certain restructuring activities initiated by the Company. Charges for inventory impairments are reported in the "Cost of goods sold" caption of the consolidated statements of income (loss).

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2020
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 2020 2019 Land and improvements (1) 8 - 20 years (1) $ 404 $ 430 Buildings, structures and related equipment 5 - 40 years 2,618 2,870 Machinery, equipment and other 2 - 20 years 7,451 7,324 Total cost 10,473 10,624 Less: Accumulated depreciation (5,115) (4,384) Property, plant and equipment, less accumulated depreciation $ 5,358 $ 6,240 (1) Useful life excludes land. Depreciation expense relating to property, plant and equipment was $1,009 million, $1,053 million and $1,031 million for the years ended December 31, 2020, 2019 and 2018, respectively. See "Note 20. Restructuring, Impairment and Other" for additional information on property, plant and equipment impairments.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2020
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 Oilfield Equipment Turbo-machinery & Process Solutions Digital Solutions Total Balance at December 31, 2018, gross $ 15,676 $ 4,177 $ 2,186 $ 2,432 $ 24,471 Accumulated impairment at December 31, 2018 (2,633) (867) — (254) (3,754) Balance at December 31, 2018 13,043 3,310 2,186 2,178 20,717 Currency exchange and others — 9 (15) (21) (27) Balance at December 31, 2019 13,043 3,319 2,171 2,157 20,690 Impairment (11,484) (3,289) — — (14,773) Currency exchange and others (20) (24) 63 41 60 Balance at December 31, 2020 $ 1,539 $ 6 $ 2,234 $ 2,198 $ 5,977 We perform our annual goodwill impairment test for each of our reporting units as of July 1 of each fiscal year, in conjunction with our annual strategic planning process. Our reporting units are the same as our four reportable segments. In addition to our annual impairment test, we also test goodwill for impairment between annual impairment dates 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 first quarter of 2020, our market capitalization declined significantly compared to the fourth quarter of 2019. Our closing stock price fell to a historic low of $9.33 on March 23, 2020. Over the same period, the equity value of our peer group companies and the overall U.S. stock market also declined significantly amid market volatility. In addition, the Oilfield Services Index (OSX), an indicator of investors’ view of the earnings prospects and cost of capital of the oil and gas services industry, traded at prices that were the lowest in its history. These declines were driven by the uncertainty surrounding the outbreak of the coronavirus (COVID-19) and other macroeconomic events such as the geopolitical tensions between OPEC and Russia, which also resulted in a significant drop in oil prices. Based on these factors, we concluded that a triggering event occurred and, accordingly, an interim quantitative impairment test was performed as of March 31, 2020 (“testing date”). In performing the interim quantitative impairment test as of March 31, 2020 and consistent with our prior practice, we determined the fair value of each of our reporting units using a combination of the income approach and the market approach by assessing each of these valuation methodologies based upon availability and relevance of comparable company data and determining the appropriate weighting. Under the income approach, the fair value for each of our reporting units was determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. We used our internal forecasts, updated for recent events, to estimate future cash flows with cash flows beyond the specific operating plans estimated using a terminal value calculation, which incorporates historical and forecasted trends, including an estimate of long-term future growth rates, based on our most recent views of the long-term outlook for each reporting unit. Our internal forecasts include assumptions about future commodity pricing and expected demand for our goods and services. Due to the inherent uncertainties involved in making estimates and assumptions, actual results may differ from those assumed in our forecasts. We derived our discount rates using a capital asset pricing model and analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. We used discount rates that are commensurate with the risks and uncertainties inherent in the respective businesses and in our internally developed forecasts, updated for recent events. Valuations using the market approach were derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses was based on the markets in which the reporting units operate giving consideration to risk profiles, size, geography, and diversity of products and services. Based upon the results of our interim quantitative impairment test performed as of March 31, 2020, we concluded that the carrying value of the Oilfield Services (OFS) and Oilfield Equipment (OFE) reporting units exceeded their estimated fair value as of the testing date, which resulted in goodwill impairment charges of $11,484 million and $3,289 million, respectively. The goodwill impairment was calculated as the amount that the carrying value of the reporting unit, including any goodwill, exceeded its fair value. During the third quarter of 2020, we completed our annual impairment test for each reporting unit and determined it was more likely than not that the fair value of our reporting units exceeded their carrying amounts. Between our annual test date of July 1, 2020 and December 31, 2020, we did not identify any indicators that would lead to a determination that it is more likely than not that the fair value of any of our reporting units 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: 2020 2019 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 2,261 $ (916) $ 1,345 $ 3,027 $ (1,045) $ 1,982 Technology 1,127 (696) 431 1,075 (626) $ 449 Trade names and trademarks 326 (181) 145 696 (254) 442 Capitalized software 1,294 (1,041) 253 1,193 (928) 265 Other — — — 3 (2) 1 Finite-lived intangible assets (1) 5,008 (2,834) 2,174 5,994 (2,855) 3,139 Indefinite-lived intangible assets 2,223 — 2,223 2,242 — 2,242 Total intangible assets $ 7,231 $ (2,834) $ 4,397 $ 8,236 $ (2,855) $ 5,381 (1) For the year ended December 31, 2020, we recorded intangible asset impairments to customer relationships of $481 million, technology of $8 million, trade names and trademarks of $237 million, and capitalized software of $3 million. See "Note 20. Restructuring, Impairment and Other" for further discussion. Intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from one Estimated amortization expense for each of the subsequent five fiscal years is expected to be as follows: Year Estimated Amortization Expense 2021 $ 255 2022 214 2023 200 2024 182 2025 142

Contract and Other Deferred Ass

Contract and Other Deferred Assets	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract and Other Deferred Assets	CONTRACT AND OTHER DEFERRED ASSETS The majority of our long-term product service agreements relate to our Turbomachinery & Process Solutions segment. Contract assets reflect revenue earned in excess of billings on our long-term contracts to construct technically complex equipment, long-term product maintenance or extended warranty arrangements and other deferred contract related costs. Contract assets are comprised of the following at December 31: 2020 2019 Long-term product service agreements $ 660 $ 603 Long-term equipment contracts (1) 1,160 1,097 Contract assets (total revenue in excess of billings) 1,820 1,700 Deferred inventory costs 138 130 Non-recurring engineering costs 43 51 Contract and other deferred assets $ 2,001 $ 1,881 (1) Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements. Revenue recognized during the year ended December 31, 2020 and 2019 from performance obligations satisfied (or partially satisfied) in previous years related to our long-term service agreements was $17 million and $(1) 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.

Progress Collections and Deferr

Progress Collections and Deferred Income	12 Months Ended
	Dec. 31, 2020
Revenue Recognition and Deferred Revenue [Abstract]
Progress Collections and Deferred Income	REVENUE RELATED TO CONTRACTS WITH CUSTOMERS DISAGGREGATED REVENUE We disaggregate our revenue from contracts with customers by primary geographic markets. Total Revenue 2020 2019 2018 U.S. $ 4,638 $ 6,188 $ 6,576 Non-U.S. 16,067 17,650 16,301 Total $ 20,705 $ 23,838 $ 22,877 REMAINING PERFORMANCE OBLIGATIONS As of December 31, 2020 and 2019, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $23.4 billion and $22.9 billion, respectively. As of December 31, 2020, we expect to recognize revenue of approximately 51%, 67% and 90% 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. 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: 2020 2019 Progress collections $ 3,352 $ 2,760 Deferred income 102 110 Progress collections and deferred income (contract liabilities) $ 3,454 $ 2,870 Revenue recognized during the year ended December 31, 2020 and 2019 that was included in the contract liabilities at the beginning of the year was $1,962 million and $1,239 million, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
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 2020 2019 Long-term fixed lease $ 288 $ 233 Long-term variable lease 25 48 Short-term lease (1) 477 706 Total operating lease expense $ 790 $ 987 (1) Leases with a term of one year or less, including leases with a term of one month or less. For the year ended December 31, 2018, total operating lease expense was $783 million. Cash flows used in operating activities for operating leases approximates our expense for the years ended December 31, 2020, 2019 and 2018. As of December 31, 2020, maturities of our operating lease liabilities are as follows: Year Operating Leases 2021 $ 235 2022 172 2023 114 2024 78 2025 60 Thereafter 313 Total lease payments 972 Less: imputed interest 163 Total $ 809 Amounts recognized in the consolidated statement of financial position for operating leases are as follows: 2020 2019 All other current liabilities $ 218 $ 201 All other liabilities 591 641 Total $ 809 $ 842 Right-of-use assets of $802 million and $829 million as of December 31, 2020 and 2019, 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 8 years for both years ended December 31, 2020 and 2019. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2020 and 2019 was 3.7% and 4.1%, respectively.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Short-term and long-term borrowings are comprised of the following at December 31: 2020 2019 Amount Weighted Average Rate (1) Amount Weighted Average Rate (1) Short-term borrowings Commercial paper $ 801 0.5 % $ — n/a Short-term borrowings from GE 45 n/a 273 n/a Other borrowings 43 4.2 % 48 4.8 % Total short-term borrowings 889 321 Long-term borrowings 2.773% Senior Notes due December 2022 1,247 2.9 % 1,246 2.9 % 8.55% Debentures due June 2024 (2) 123 4.1 % 127 4.1 % 3.337% Senior Notes due December 2027 1,344 3.4 % 1,343 3.4 % 6.875% Notes due January 2029 (2) 284 3.9 % 289 3.9 % 3.138% Senior Notes due November 2029 522 3.2 % 522 3.2 % 4.486% Senior Notes due May 2030 497 4.6 % — n/a 5.125% Senior Notes due September 2040 (2) 1,297 4.2 % 1,301 4.2 % 4.080% Senior Notes due December 2047 1,337 4.1 % 1,337 4.1 % Other long-term borrowings 93 3.0 % 136 3.4 % Total long-term borrowings 6,744 6,301 Total borrowings $ 7,633 $ 6,622 (1) Weighted average effective interest rate is based on the carrying value including step-up adjustments, as applicable, recorded upon the acquisition of BHI. See "Note 1. Summary of Significant Accounting Policies" for further discussion. (2) Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI, net of amounts repurchased subsequent to the closing of the Transactions. In May 2020, BHH LLC issued $500 million aggregate principal amount of 4.486% Senior Notes due May 2030. In November 2019, BHH LLC issued $525 million aggregate principal amount of 3.138% Senior Notes due November 2029. We used the proceeds from the November 2019 offering to repurchase all of our outstanding 3.2% Senior Notes due August 2021. The total cash consideration paid for this repurchase excluding interest was $526 million, resulting in a loss of $7 million which was recorded in the "Interest expense, net" caption of the consolidated statements of income (loss). These Senior Notes are presented net of issuance costs in our consolidated statements of financial position. The estimated fair value of total borrowings at December 31, 2020 and 2019 was $8,502 million and $6,847 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, 2025, and in the aggregate thereafter, are listed in the table below: 2021 2022 2023 2024 2025 Thereafter Total debt $ 889 $ 1,254 $ 4 $ 173 $ 19 $ 5,294 In December 2019, BHH LLC entered into a $3 billion committed unsecured revolving credit facility (the 2019 Credit Agreement) with commercial banks maturing in December 2024. The 2019 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 2019 Credit Agreement may be accelerated. Such events of default include payment defaults to lenders under the 2019 Credit Agreement and other customary defaults. No such events of default have occurred. In connection with BHH LLC’s entry into the 2019 Credit Agreement, BHH LLC terminated its then-existing five-year committed $3 billion revolving credit agreement dated as of July 3, 2017 (the 2017 Credit Agreement). During 2020 and 2019, there were no borrowings under the 2019 Credit Agreement or the 2017 Credit Agreement. We have a commercial paper program under which we may issue from time to time commercial paper with maturities of no more than 397 days. During the second quarter of 2020, we increased our commercial paper program from $3 billion to approximately $3.8 billion. Baker Hughes Co-Obligor, Inc. is a co-obligor, jointly and severally with BHH LLC on our long-term debt securities. This co-obligor is a 100%-owned finance subsidiary of BHH LLC that was incorporated for the sole purpose of serving as a corporate co-obligor of long-term debt securities and has no assets or operations other than those related to its sole purpose. As of 2020, Baker Hughes Co-Obligor, Inc. is a co-obligor of our long-term debt securities totaling $6,650 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, 2020, we were in compliance with all debt covenants. See "Note 18. Related Party Transactions" for additional information on the short-term borrowings with GE.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS DEFINED BENEFIT PLANS Certain of our employees are covered by company sponsored pension plans. Our primary pension plans in 2020 included four U.S. plans and seven non-U.S. pension plans, primarily in the UK, Germany, and Canada, all with pension 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, over half of these plans are either frozen or closed to new entrants. We also provide certain postretirement health care benefits (Other Postretirement Benefits), through an unfunded plan, to a closed group of U.S. employees who retire and meet certain age and service requirements. Funded Status The funded status position represents the difference between the benefit obligation and the plan assets. 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 plans. Pension Benefits Other Postretirement 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 3,451 $ 2,261 $ 80 $ 107 Service cost 27 21 — 1 Interest cost 77 90 2 4 Plan amendment 1 — (18) — Actuarial loss (gain) (1) 393 301 17 (16) Benefits paid (101) (102) (19) (16) Curtailments (3) (21) — — Settlements (79) (36) — — Transfer from GE - UK Plan — 837 — — Other — 15 — — Foreign currency translation adjustments 40 85 — — Benefit obligation at end of year 3,806 3,451 62 80 Change in plan assets: Fair value of plan assets at beginning of year 3,004 1,866 — — Actual return on plan assets 347 314 — — Employer contributions 20 23 19 16 Benefits paid (101) (102) (19) (16) Settlements (79) (36) — — Transfer from GE - UK Plan — 851 — — Foreign currency translation adjustments 11 88 — — Fair value of plan assets at end of year 3,202 3,004 — — Funded status - underfunded at end of year $ (604) $ (447) $ (62) $ (80) Accumulated benefit obligation $ 3,755 $ 3,401 $ 62 $ 80 (1) The actuarial loss (gain) was primarily related to a change in the discount rate used to measure the benefit obligation for our plans in 2020 and 2019. The amounts recognized in the consolidated statements of financial position consist of the following at December 31: Pension Benefits Other Postretirement 2020 2019 2020 2019 Noncurrent assets $ 14 $ 78 $ — $ — Current liabilities (18) (17) (9) (11) Noncurrent liabilities (600) (508) (53) (69) Net amount recognized $ (604) $ (447) $ (62) $ (80) Information for the plans with ABOs and PBOs in excess of plan assets is as follows at December 31: Pension Benefits Other Postretirement 2020 2019 2020 2019 Projected benefit obligation $ 3,390 $ 1,814 n/a n/a Accumulated benefit obligation $ 3,340 $ 1,763 $ 62 $ 80 Fair value of plan assets $ 2,772 $ 1,288 n/a n/a Net Periodic Cost (Income) The components of net periodic cost (income) are as follows: Pension Benefits Other Postretirement 2020 2019 2018 2020 2019 2018 Service cost $ 27 $ 21 $ 21 $ — $ 1 $ 2 Interest cost 77 90 71 2 4 5 Expected return on plan assets (121) (122) (121) — — — Amortization of prior service credit 1 1 — (3) (3) (5) Amortization of net actuarial loss (gain) 34 17 10 (3) (7) (2) Curtailment / settlement loss (gain) 10 9 2 — — (5) Net periodic cost (income) $ 28 $ 16 $ (17) $ (4) $ (5) $ (5) The service cost component of the net periodic cost (benefit) is included in "operating income (loss)" and all other components are included in "Other non-operating income, 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 will 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 Other Postretirement 2020 2019 2020 2019 Discount rate 1.66 % 2.34 % 1.67 % 2.89 % Rate of compensation increase 3.25 % 3.11 % n/a n/a Interest crediting rate 2.60 % 2.60 % n/a n/a Weighted average assumptions used to determine net periodic cost for these plans are as follows: Pension Benefits Other Postretirement 2020 2019 2018 2020 2019 2018 Discount rate 2.34 % 3.43 % 2.99 % 2.35 % 3.92 % 3.32 % Expected long-term return on plan assets 4.20 % 5.48 % 5.94 % n/a n/a n/a Interest crediting rate 2.60 % 3.15 % 2.60 % n/a n/a n/a 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 and pension expense in the following year; higher discount rates reduce the size of the benefit obligation and subsequent-year pension expense. 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. Assumed health care cost trend rates can have a significant effect on the amounts reported for Other Postretirement Benefits. As of December 31, 2020, the health care cost trend rate was 6.5%, declining gradually each successive year until it reaches 4.5%. Accumulated Other Comprehensive Loss The amount recorded before-tax in accumulated other comprehensive loss related to employee benefit plans consists of the following at December 31: Pension Benefits Other Postretirement 2020 2019 2020 2019 Net actuarial loss (gain) $ 527 $ 395 $ (30) $ (38) Net prior service cost (credit) 18 19 (17) (15) Total $ 545 $ 414 $ (47) $ (53) Plan Assets We have investment committees that meet regularly to review the portfolio returns and to determine asset-mix targets based on asset/liability studies. Third-party investment consultants assist such 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 pension assets at December 31: 2020 2019 Debt securities Fixed income and cash investment funds $ 1,807 $ 1,858 Equity securities Global equity securities (1) 346 333 U.S. equity securities (1) 299 258 Insurance contracts 120 — Real estate 85 84 Private equities 52 51 Other investments (2) 493 420 Total plan assets $ 3,202 $ 3,004 (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 $3,072 million and $2,988 million as of December 31, 2020 and 2019, respectively. The percentages of plan assets valued using NAV by investment fund type for equity securities, fixed income and cash, and alternative investments were 21%, 59%, and 20% as of December 31, 2020, respectively, and 20%, 62%, and 18% as of December 31, 2019, respectively. Those investments that were measured at fair value using NAV as practical expedient were excluded from the fair value hierarchy. The practical expedient was not applied for investments with a fair value of $130 million and $16 million as of December 31, 2020 and 2019, respectively. There were investments classified within Level 3 of $120 million as of December 31, 2020 for non U.S. insurance contracts. These contracts consisted of purchases of $124 million, reduced by $4 million of unrealized losses. There were no investments classified within Level 3 in 2019. The remaining investments were considered Level 2. 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 2020, we contributed approximately $20 million. We anticipate we will contribute between approximately $20 million to $35 million to our pension plans in 2021. We fund our Other Postretirement Benefits on a pay-as-you-go basis. In 2020, we funded $19 million and in 2021, we expect to fund approximately $10 million to such benefits. The following table presents the expected benefit payments over the next 10 years. The U.S. and non-U.S. pension benefit payments are made by the respective pension trust funds. Year Pension Other Postretirement 2021 $ 173 $ 10 2022 131 7 2023 130 6 2024 135 5 2025 136 5 2026-2030 743 18 GE MULTI-EMPLOYER PLANS Historically, we were allocated relevant participation costs for certain employees who participated in GE employee benefit plans as part of multi-employer plans. Certain of our U.S. employees were covered under various U.S. GE employee benefit plans, including GE's retirement plans (pension, retiree health and life insurance, and savings benefit plans). From January 1, 2019, these U.S. employees ceased to participate in the GE U.S. plans. In addition, certain United Kingdom (UK) employees participated in the GE UK Pension Plan. From May 1, 2019, these UK employees ceased to participate in the GE UK Pension Plan. In May 2019, the assets and liabilities of the GE UK Pension Plan related to the oil & gas businesses were transferred to us on a fully funded basis. Expenses associated with our participation in these plans were $3 million and $158 million in the years ended December 31, 2019 and 2018, respectively. We incurred no expenses associated with GE multi-employer plans in 2020. DEFINED CONTRIBUTION PLANS Our primary defined contribution plan during 2020 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 $236 million and $235 million, in 2020 and 2019, respectively. OTHER We have two non-qualified defined contribution plans that are invested through trusts. The assets and corresponding liabilities were $314 million and $276 million at December 31, 2020 and 2019, respectively, and are included in "All other assets" and "Liabilities for pensions and other employee benefits" captions in our consolidated statements of financial position.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to their income and non-income-based tax laws. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was enacted on March 27, 2020 in the U.S., includes 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. The provision or benefit for income taxes is comprised of the following: 2020 2019 2018 Current: U.S. $ (59) $ (12) $ 63 Foreign 458 443 444 Total current 399 431 507 Deferred: U.S. 11 (12) (211) Foreign 149 63 (38) Total deferred 160 51 (249) Provision for income taxes $ 559 $ 482 $ 258 The geographic sources of income (loss) before income taxes, inclusive of equity in loss of affiliate, are as follows: 2020 2019 2018 U.S. $ (14,288) $ (693) $ (672) Foreign (914) 1,446 1,213 Income (loss) before income taxes, inclusive of equity in loss of affiliate $ (15,202) $ 753 $ 541 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: 2020 2019 2018 Income (loss) before income taxes, inclusive of equity in loss of affiliate $ (15,202) $ 753 $ 541 Taxes at the U.S. federal statutory income tax rate (3,192) 158 114 Impact of goodwill impairment 3,102 — — Effect of foreign operations 183 85 103 Tax impact of partnership structure (33) 17 80 Change in valuation allowances 494 241 87 CARES Act (117) — — Tax Cuts and Jobs Act enactment — — (107) Other - net 122 (19) (19) Provision for income taxes $ 559 $ 482 $ 258 Actual income tax rate (3.7)% 64.0% 47.7% 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: 2020 2019 Deferred tax assets: Operating loss carryforwards $ 2,249 $ 1,654 Tax credit carryforwards 1,083 941 Investment in partnership 160 381 Goodwill and other intangibles 143 117 Employee benefits 138 98 Property 127 137 Receivables 53 79 Inventory 51 91 Other 264 317 Total deferred income tax asset 4,268 3,815 Valuation allowances (3,472) (2,883) Total deferred income tax asset after valuation allowance 796 932 Deferred tax liabilities: Other (29) (29) Total deferred income tax liability (29) (29) Net deferred tax asset $ 767 $ 903 At December 31, 2020, we had approximately $402 million of non-U.S. tax credits which may be carried forward indefinitely under applicable foreign law, $521 million of U.S. foreign tax credits and $160 million of other credits, the majority of which will expire after tax year 2027 under U.S. tax law. Additionally, we had $2,249 million of net operating loss carryforwards, of which approximately $347 million will expire within five years, $960 million will expire between 6 years and 20 years, and the remainder can be carried forward indefinitely. 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, 2020, $3,472 million of valuation allowances are recorded against various deferred tax assets, including foreign net operating losses (NOL) of $1,657 million, U.S. federal and foreign tax credit carryforwards of $924 million, other U.S. NOL's and tax credit carryforwards of $452 million, and certain other U.S. and foreign deferred tax assets of $439 million. There are $319 million of deferred tax assets related to foreign net operating loss carryforwards 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, 2020, the cumulative amount of undistributed foreign earnings is approximately $6 billion. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis differences is not practicable. At December 31, 2020, we had $483 million of tax liabilities for total gross unrecognized tax benefits related to uncertain tax positions. In addition to these uncertain tax positions, we had $95 million and $23 million related to interest and penalties, respectively, for total liabilities of $601 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 $523 million. The remaining $77 million comprised of $53 million for deferred tax assets that represent tax benefits that would be received in different taxing jurisdictions or in a different character in the event that we did not prevail on all uncertain tax positions and increased valuation allowances of $24 million. The following table presents the changes in our gross unrecognized tax benefits included in the consolidated statements of financial position. Asset / (Liability) 2020 2019 Balance at beginning of year $ (451) $ (472) Additions for tax positions of the current year (71) (25) Additions for tax positions of prior years (31) (27) Reductions for tax positions of prior years 35 55 Settlements with tax authorities 12 6 Lapse of statute of limitations 23 12 Balance at end of year $ (483) $ (451) 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, 2020, we had approximately $57 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 2016 for the most significant U.S. returns. We believe that we have made adequate provision for all income tax uncertainties.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The Company has a Long-Term Incentive Plan (LTI Plan) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the Company and our subsidiaries. A total of up to 57.4 million shares of Class A common stock are authorized 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 2027. A total of 26.1 million shares of Class A common stock are available for issuance as of December 31, 2020. Stock-based compensation cost was $210 million, $187 million and $121 million for the years ended December 31, 2020, 2019 and 2018, respectively. We recorded a tax benefit of approximately $19 million in 2020 on our stock-based compensation cost. 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 restricted stock awards (RSA), which is an award of common stock with no exercise price, or restricted stock units (RSU), 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 RSAs and RSUs are subject to cliff or graded vesting, generally ranging over a period of 3 years, or over a one year period for non-employee directors. Cash dividend equivalents are accrued on RSUs and are payable upon vesting of the awards. We determine the fair value of restricted stock awards and restricted stock units based on the market price of our common stock on the date of grant, discounted by the present value of future dividends. The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices): Number of Weighted Average Unvested balance at December 31, 2019 11,285 $ 27.26 Granted 9,301 22.33 Vested (5,066) 29.02 Forfeited (1,228) 24.18 Unvested balance at December 31, 2020 14,292 $ 23.70 In 2020, 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 $111 million and unvested RSUs was $298 million. The total fair value of RSUs vested in 2020 was $147 million. As of December 31, 2020, there was $184 million of total unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted average period of 1.78 years. Performance Share Units We may grant performance share units (PSUs) to certain officers and key employees. The PSUs are stock-based awards tied to predefined company metrics and total shareholder return (TSR), which determine the number of units to be received. PSUs generally cliff vest after a service period of 3 years. Cash dividend equivalents are accrued only on PSUs tied to predefined company metrics 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, discounted by the present value of future dividends. 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 Weighted Average Unvested balance at December 31, 2019 2,044 $ 27.91 Granted 1,418 21.37 Forfeited (301) 23.61 Unvested balance at December 31, 2020 3,161 $ 25.39 The total intrinsic value of PSUs (defined as the value of the shares awarded at the year-end market price) outstanding was $66 million as of December 31, 2020. Total unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted average period of 2.23 years, was $29 million as of December 31, 2020. Stock Options In addition to RSUs and PSUs, we may grant stock options to our officers, directors and key employees. Stock options generally vest in equal amounts over a vesting period of 3 years provided that the employee has remained continuously employed by the Company through such vesting date. The fair value of each stock option granted is estimated using the Black-Scholes option pricing model. The following table presents the weighted average assumptions used in the option pricing model for options granted under the LTI Plan. The expected life of the options represents the period of time the options are expected to be outstanding. The expected life is based on a simple average of the vesting term and original contractual term of the awards. The expected volatility is based on the historical volatility of our five main competitors over a six year period. The risk-free interest rate is based on the observed U.S. Treasury yield curve in effect at the time the options were granted. In 2019, the dividend yield is based on Baker Hughes' current annual cash dividend divided by the valuation date stock price. Prior to 2019, the dividend yield was based on a five year history of dividend payouts by BHI. We did not grant any stock options during 2020. 2019 2018 Expected life (years) 6 6 Risk-free interest rate 2.6 % 2.5 % Volatility 36.5 % 33.7 % Dividend yield 3.1 % 2.0 % Weighted average fair value per share at grant date $ 6.37 $ 10.34 The following table presents the changes in stock options outstanding and related information (in thousands, except per option prices): Number of Weighted Average Outstanding at December 31, 2019 8,410 $ 32.50 Exercised (17) 21.80 Forfeited (292) 25.89 Expired (816) 33.90 Outstanding at December 31, 2020 7,285 $ 32.63 Exercisable at December 31, 2020 5,882 $ 34.32 The weighted average remaining contractual term for options outstanding and options exercisable at December 31, 2020 were 4.3 years and 3.5 years, respectively. The maximum contractual term of options outstanding is 8.1 years. There were 1,553 thousand, 867 thousand and 505 thousand options that vested in 2020, 2019 and 2018, respectively. The total fair value of options vested was $14 million, $10 million and $6 million, in 2020, 2019 and 2018, respectively. As of December 31, 2020, there was $4 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 1 year. 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 2020 was immaterial. The total intrinsic value of stock options outstanding and options exercisable at December 31, 2020 was immaterial. The intrinsic value of stock options outstanding is calculated as the amount by which the quoted price of $20.85 of our common stock as of the end of 2020 exceeds the exercise price of the options. Employee Stock Purchase Plan The Employee Stock Purchase Plan (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 on March 31, June 30, September 30 and December 31 of each year at a 15% discount of the fair market value of our Class A common stock on March 31, June 30, September 30 and December 31. 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 15 million shares of Class A common stock are authorized for issuance, and at December 31, 2020, there were 8.5 million shares of Class A common stock reserved for future issuance.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
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, 2020 is 724 million and 311 million, respectively. We have not issued any preferred stock. GE owns all the issued and outstanding Class B common 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 and any assets in the event of liquidation of the Company. GE is entitled through BHH LLC Units (LLC Units) to receive distributions on an equal per share amount of any dividend paid by the Company. In July 2020, GE launched a program to divest of its ownership interest in us, at its discretion, in a series of transactions over approximately three years, subject to market conditions and other factors. In 2020, GE’s economic interest in BHH LLC was reduced to approximately 30.1% primarily as a result of the exchange of 66 million shares of Class B common stock, and associated LLC Units. The following table presents the changes in the number of shares outstanding (in thousands): 2020 2019 Class A Common Stock Class B Common Stock Class A Common Stock Class B Common Stock Balance at beginning of year 650,065 377,428 513,399 521,543 Issue of shares upon vesting of restricted stock units (1) 3,548 — 1,973 — Issue of shares on exercises of stock options (1) 13 — 362 — Issue of shares for employee stock purchase plan 4,378 — 2,081 — Exchange of Class B common stock for Class A common stock (2) 65,995 (65,995) 132,250 (132,250) Repurchase and cancellation of Class B common stock (3) — — — (11,865) Balance at end of year 723,999 311,433 650,065 377,428 (1) Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation. (2) In 2020, GE exchanged 66 million shares of Class B common stock and paired LLC Units for Class A common stock. In 2019, we completed underwritten secondary public offerings in which GE and its affiliates sold 132 million shares of our Class A common stock. We did not receive any proceeds from the shares sold by GE and its affiliates in these offerings. The offerings included the exchange by GE and its affiliates of LLC Units, together with the corresponding shares of our Class B common stock, for Class A common stock. 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. (3) In 2019, we repurchased and canceled 12 million shares of Class B common stock, together with an equal number of associated LLC Units, from GE and its affiliates for an aggregate of $250 million, or $21.07 per share, which is the same per share price paid by the underwriters to GE and its affiliates in the concurrent underwritten secondary public offering. During 2020 and 2019, the Company declared and paid aggregate regular dividends of $0.72 per share 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: Investment Securities Foreign Currency Translation Adjustments Cash Flow Hedges Benefit Plans Accumulated Other Comprehensive Loss Balance at December 31, 2018 $ — $ (1,152) $ (1) $ (66) $ (1,219) Other comprehensive income (loss) before reclassifications 2 53 13 (122) (54) Amounts reclassified from accumulated other comprehensive loss — — 1 26 27 Deferred taxes — — (2) 21 19 Other comprehensive income (loss) 2 53 12 (75) (8) Less: Other comprehensive income (loss) attributable to noncontrolling interests 1 23 4 (29) (1) Less: Reallocation of AOCL based on change in ownership of BHH LLC Units — 314 — 36 350 Less: Other adjustments — — 1 59 60 Balance at December 31, 2019 1 (1,436) 6 (207) (1,636) Other comprehensive income (loss) before reclassifications (2) 175 (2) (181) (10) Amounts reclassified from accumulated other comprehensive loss — — (4) 51 47 Deferred taxes — — 1 5 6 Other comprehensive income (loss) (2) 175 (5) (125) 43 Less: Other comprehensive income (loss) attributable to noncontrolling interests (1) 40 (2) (37) — Less: Reallocation of AOCL based on change in ownership of BHH LLC Units — 163 — 22 185 Balance at December 31, 2020 $ — $ (1,464) $ 3 $ (317) $ (1,778) The amounts reclassified from accumulated other comprehensive loss during the years ended December 31, 2020 and 2019 represent (i) gains (losses) reclassified on cash flow hedges when the hedged transaction occurs and (ii) the amortization of net actuarial loss and prior service credit, and curtailments which are included in the computation of net periodic pension cost (see "Note 11. Employee Benefit Plans" for additional details). Net periodic pension cost is recorded across the various cost and expense line items in the consolidated statements of income (loss). NONCONTROLLING INTEREST Noncontrolling interests represent the portion of net assets in consolidated entities that are not owned by the Company. As of December 31, 2020 and 2019, GE owned approximately 30.1% and 36.7%, respectively, of BHH LLC and this represents the majority of the noncontrolling interest balance reported within equity. 2020 2019 GE's interest in BHH LLC $ 5,216 $ 12,454 Other noncontrolling interests 133 116 Total noncontrolling interests $ 5,349 $ 12,570

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Net income (loss) $ (15,761) $ 271 $ 283 Less: Net income (loss) attributable to noncontrolling interests (5,821) 143 88 Net income (loss) attributable to Baker Hughes Company $ (9,940) $ 128 $ 195 Weighted average shares outstanding: Class A basic 675 555 427 Class A diluted 675 557 429 Net income (loss) per share attributable to common stockholders: Class A basic $ (14.73) $ 0.23 $ 0.46 Class A diluted $ (14.73) $ 0.23 $ 0.45 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 both our Class A and Class B common stock combined were 1,034 million, 1,034 million, and 1,100 million for the years ended December 31, 2020, 2019 and 2018, respectively. Under the Exchange Agreement between GE and us, GE is 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 2020, 2019 and 2018, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive. For the year ended December 31, 2020, we excluded all outstanding equity awards from the computation of diluted net loss per share because their effect is antidilutive. For years ended December 31, 2019 and 2018, Class A diluted shares include the dilutive impact of equity awards except for approximately 6 million and 4 million options that were excluded because the exercise price exceeded the average market price of the Class A common stock and is therefore antidilutive.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS RECURRING FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities. 2020 2019 Level 1 Level 2 Level 3 Net Balance Level 1 Level 2 Level 3 Net Balance Assets Derivatives $ — $ 118 $ — $ 118 $ — $ 58 $ — $ 58 Investment securities 1,502 — 30 1,532 24 — 259 283 Total assets 1,502 118 30 1,650 24 58 259 341 Liabilities Derivatives — (52) — (52) — (27) — (27) Total liabilities $ — $ (52) $ — $ (52) $ — $ (27) $ — $ (27) There were no transfers between Level 1, 2 and 3 during 2020. The following table provides a reconciliation of recurring Level 3 fair value measurements for investment securities: 2020 2019 Balance at beginning of year $ 259 $ 288 Purchases 12 7 Proceeds at maturity (239) (38) Unrealized gains (losses) recognized in accumulated other comprehensive income (loss) (2) 2 Balance at end of year $ 30 $ 259 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 statement of income (loss) on account of any Level 3 instrument still held at the reporting date. We held $1 million and $111 million of these investment securities on behalf of GE at December 31, 2020 and 2019, respectively. 2020 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investment securities Non-U.S. debt securities (1) $ 30 $ — $ — $ 30 $ 257 $ 2 $ — $ 259 Equity securities (2) 76 1,431 (5) 1,502 17 8 (1) 24 Total $ 106 $ 1,431 $ (5) $ 1,532 $ 274 $ 10 $ (1) $ 283 (1) All of our investment securities are classified as available for sale instruments. Non-U.S. debt securities mature within two years. (2) Gains (losses) recorded to earnings related to these securities were $1.4 billion, $2 million and $(25) million for the years ended December 31, 2020, 2019, and 2018, respectively. At December 31, 2020, our equity securities consist primarily of our investment in C3.ai. In June 2019, we entered into a stock purchase agreement and certain other related agreements with C3.ai, a company with a suite of artificial intelligence (AI) software that resulted in us acquiring an economic interest in C3.ai of approximately 15%. Our investment in C3.ai did not have a recurring readily determinable fair value until December 9, 2020 when C3.ai stock began trading publicly. At December 31, 2020, we owned 10,813,095 shares of C3.ai Class A common stock, an economic interest of approximately 11%, with a fair value of $1,500 million. For the year ended December 31, 2020, we recorded a mark-to-market unrealized gain of $1,417 million on our investment in C3.ai, which is reported in the “Non-operating income (loss)” caption in our consolidated statement of income (loss). See “Note 18. Related Party Transactions” for further details on our agreements with C3.ai. As of December 31, 2020, $1,514 million of total investment securities are recorded in "All other current assets" of the consolidated statements of financial position, with the remaining $18 million in "All other assets." As of December 31, 2019, $254 million of equity securities are recorded in "All other current assets" of the consolidated statements of financial position, with the remaining $29 million in "All other assets." FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTS Our financial instruments include cash and equivalents, current receivables, 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, 2020 and 2019 approximates their carrying value as reflected in our consolidated financial statements. For further information on the fair value of our debt, see "Note 10. 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. 2020 2019 Assets (Liabilities) Assets (Liabilities) Derivatives accounted for as hedges Currency exchange contracts $ 5 $ — $ 11 $ — Derivatives not accounted for as hedges Currency exchange contracts and other 113 (52) 47 (27) Total derivatives $ 118 $ (52) $ 58 $ (27) Derivatives are classified in the consolidated statements of financial position depending on their respective maturity date. As of December 31, 2020 and 2019, $115 million and $52 million of derivative assets are recorded in "All other current assets" and $3 million and $6 million are recorded in "All other assets" of the consolidated statements of financial position, respectively. As of December 31, 2020 and 2019, $48 million and $24 million of derivative liabilities are recorded in "All other current liabilities" and $4 million and $3 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. We also use commodity derivatives to reduce or eliminate price risk on raw materials purchased for use in manufacturing. Changes in the fair value of cash flow hedges are recorded in a separate component of equity (referred to below as Accumulated Other Comprehensive Income, or AOCI) and are recorded in earnings in the period in which the hedged transaction occurs. The table below summarizes our hedging instrument activity for currency exchange contracts. 2020 2019 2018 Gain (loss) recognized in AOCI $ (2) $ 13 $ (6) Gain (loss) reclassified from AOCI to earnings $ 4 $ (1) $ (1) We expect to transfer $5 million to earnings as a gain in the next 12 months contemporaneously with the earnings effects of the related forecasted transactions. The maximum term of derivative instruments that hedge forecasted transactions was one year at December 31, 2020 and 2019. 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. These derivatives are marked to fair value through earnings each period. The following table summarizes the gains (losses) from derivatives not designated as hedges on the consolidated statements of income (loss): Derivatives not designated as hedging instruments Consolidated statement of income caption 2020 2019 2018 Currency exchange contracts (1) Cost of goods sold $ 59 $ (13) $ (35) Currency exchange contracts Cost of services sold 62 (15) 32 Commodity derivatives Cost of goods sold 2 2 (1) Other derivatives Other non-operating income (loss), net 8 2 — Total (2) $ 131 $ (24) $ (4) (1) Excludes losses on embedded derivatives of $14 million, $7 million and $3 million for the years ended December 31, 2020, 2019 and 2018, respectively, as embedded derivatives are not considered to be hedging instruments in our economic hedges. (2) The effect on earnings from changes in fair value of derivatives not designated as hedges is substantially offset by the earnings effect of the economically hedged items in the same income statement caption in 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 $7.0 billion and $5.7 billion at December 31, 2020 and 2019, respectively, is related to hedges of anticipated sales and purchases in foreign currency, commodity purchases, and contractual terms in contracts that are considered embedded derivatives and for intercompany borrowings in foreign currencies. We generally disclose derivative notional amounts on a gross basis to indicate the total counterparty risk. Where we have gross purchase and sale derivative contracts for a particular currency, we look to execute these contracts with the same counterparty to reduce our exposure. The notional amount of these derivative instruments do not generally represent cash amounts exchanged by us and the counterparties, but rather the nominal amount upon which changes in the value of the derivatives are measured. COUNTERPARTY CREDIT RISK Fair values of our derivatives can change significantly from period to period based on, among other factors, market movements and changes in our positions. We manage counterparty credit risk (the risk that counterparties will default and not make payments to us according to the terms of our agreements) on an individual counterparty basis. OTHER EQUITY INVESTMENTS As of December 31, 2020 and 2019, the carrying amount of equity securities without readily determinable fair values was $554 million and $637 million, respectively. In 2019, certain of these equity securities were remeasured to fair value as of the date that an observable transaction occurred, which resulted in the Company recording an unrealized gain of $19 million. During 2018, we discontinued applying the equity method on our investment in BJ Services, as required under U.S. GAAP, as previous losses had reduced our investment to zero, and we have no requirements to advance any additional funds.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our reportable segments, which are the same as our operating segments, are organized based on the nature of markets and customers. We report our operating results through our four operating segments that consist of similar products and services within each segment as described below. Our operating results are reviewed regularly by the chief operating decision maker, who is our Chief Executive Officer, in deciding how to allocate resources and assess performance. OILFIELD SERVICES Oilfield Services provides products and services for onshore and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production and intervention. Products and services include diamond and tri-cone drill bits, drilling services, including directional drilling technology, measurement while drilling & logging while drilling, downhole completion tools and systems, wellbore intervention tools and services, wireline services, drilling and completions fluids, oilfield and industrial chemicals, pressure pumping, and artificial lift technologies, including electrical submersible pumps. OILFIELD EQUIPMENT Oilfield Equipment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the wellhead to the production facilities. The Oilfield Equipment portfolio has solutions for the subsea, offshore surface, and onshore operating environments. Products and services include subsea and surface pressure control and production systems and services, capital drilling equipment and services, flexible pipe systems for offshore and onshore applications, and life-of-field solutions including well intervention, covering the entire life cycle of a field. TURBOMACHINERY & PROCESS SOLUTIONS Turbomachinery & Process Solutions provides equipment and related services for mechanical-drive, compression and power-generation applications across the oil and gas industry as well as products and services to serve the downstream segments of the industry including refining, petrochemical, distributed gas, flow and process control and other industrial applications. The Turbomachinery & Process Solutions portfolio includes drivers (aero-derivative gas turbines, heavy-duty gas turbines and synchronous and induction electric motors), compressors (centrifugal and axial, direct drive high speed, integrated, subsea compressors, turbo expanders and reciprocating), turn-key solutions (industrial modules and waste heat recovery), pumps, valves, and compressed natural gas (CNG) and small-scale liquefied natural gas (LNG) solutions used primarily for shale oil and gas field development. DIGITAL SOLUTIONS Digital Solutions provides equipment, software, and services for a wide range of industries, including oil & gas, power generation, aerospace, metals, and transportation. The offerings include sensor-based process measurement, non-destructive testing and inspection, turbine, generator and plant controls and condition monitoring, as well as pipeline integrity solutions. SEGMENT RESULTS Summarized financial information is shown in the following tables. Consistent accounting policies have been applied by all segments within the Company, for all reporting periods. Segment revenue 2020 2019 2018 Oilfield Services $ 10,140 $ 12,889 $ 11,617 Oilfield Equipment 2,844 2,921 2,641 Turbomachinery & Process Solutions 5,705 5,536 6,015 Digital Solutions 2,015 2,492 2,604 Total $ 20,705 $ 23,838 $ 22,877 The performance of our operating segments is evaluated based on segment operating income (loss), which is defined as income (loss) before income taxes and equity in loss of affiliate and before the following: net interest expense, net other non-operating income (loss), corporate expenses, restructuring, impairment and other charges, inventory impairments, separation and merger related costs, goodwill impairment and certain gains and losses not allocated to the operating segments. Segment income (loss) before income taxes 2020 2019 2018 Oilfield Services $ 487 $ 917 $ 785 Oilfield Equipment 19 55 — Turbomachinery & Process Solutions 805 719 621 Digital Solutions 193 343 390 Total segment 1,504 2,035 1,796 Corporate (464) (433) (405) Inventory impairment and related charges (1) (246) — (105) Goodwill impairment (14,773) — — Restructuring, impairment and other (1,866) (342) (433) Separation and merger related (134) (184) (153) Other non-operating income (loss), net 1,040 (84) 202 Interest expense, net (264) (237) (223) Total $ (15,202) $ 753 $ 680 (1) Inventory impairments and related charges are reported in "Cost of goods sold" of the consolidated statements of income (loss). The following table presents total assets by segment at December 31: Segment assets 2020 2019 Oilfield Services $ 15,482 $ 30,611 Oilfield Equipment 3,344 7,645 Turbomachinery & Process Solutions 8,951 8,365 Digital Solutions 3,948 3,983 Total segment 31,725 50,604 Corporate and eliminations (1) 6,282 2,765 Total $ 38,007 $ 53,369 (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 2020 2019 2018 Oilfield Services $ 926 $ 985 $ 1,003 Oilfield Equipment 146 175 173 Turbomachinery & Process Solutions 118 116 156 Digital Solutions 98 103 112 Total Segment 1,288 1,379 1,444 Corporate 29 39 42 Total $ 1,317 $ 1,418 $ 1,486 The following table presents net property, plant and equipment by its geographic location at December 31: Property, plant and equipment - net 2020 2019 2018 U.S. $ 2,007 $ 2,594 $ 2,654 Non-U.S. 3,351 3,646 3,574 Total $ 5,358 $ 6,240 $ 6,228

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS WITH GE GE is our largest shareholder, and we have continuing involvement with GE primarily through their remaining interest in us and BHH LLC, ongoing purchases and sales of products and services, transition services that they provide, as well as an aeroderivative joint venture (Aero JV) we formed with GE in the fourth quarter of 2019. On September 16, 2019 (the Trigger Date), as a result of the secondary offering and the repurchase of Class B common stock and associated LLC Units, GE's ownership interest was reduced from approximately 50.3% to approximately 36.8%, and GE ceased to be our controlling shareholder. Following the Trigger Date and until GE and its affiliates own less than 20% of the voting power of our outstanding common stock, GE is entitled to designate one person for nomination to our board of directors. At December 31, 2020, GE's economic interest in BHH LLC through their ownership of Class B common stock and associated LLC Units was 30.1%. The Aero JV is jointly controlled by GE and us, and therefore, we do not consolidate the JV. In 2020, we had purchases with GE and its affiliates, including the Aero JV, of $1,446 million, $1,498 million and $1,791 million during the years ended December 31, 2020, 2019 and 2018, respectively. In addition, we sold products and services to GE and its affiliates for $216 million, $337 million and $363 million during the years ended December 31, 2020, 2019 and 2018, respectively. The Company has $356 million and $536 million of accounts payable at December 31, 2020 and 2019, respectively, for goods and services provided by GE in the ordinary course of business. The Company has $429 million and $495 million of current receivables at December 31, 2020 and 2019, respectively, for goods and services provided to GE in the ordinary course of business. On July 3, 2017, we executed a promissory note with GE that represents certain cash that we are holding on GE's behalf due to the restricted nature of the cash. The restriction arises as the majority of the cash cannot be released, transferred or otherwise converted into a non-restricted market currency due to the lack of market liquidity, capital controls or similar monetary or exchange limitations by a government entity of the jurisdiction in which such cash is situated. There is no maturity date on the promissory note, but we remain obligated to repay GE, therefore, this obligation is reflected as short-term debt. As of December 31, 2020, of the $45 million due to GE, $44 million was held in the form of cash and $1 million was held in the form of investment securities. As of December 31, 2019, of the $273 million due to GE, $162 million was held in the form of cash and $111 million was held in the form of investment securities. A corresponding liability is reported in short-term debt in the consolidated statements of financial position. We also provide guarantees to GE Capital on behalf of some customers who have entered into financing arrangements with GE Capital. RELATED PARTY TRANSACTIONS WITH C3.ai In June 2019, we entered into a stock purchase agreement and certain other related agreements with C3.ai, a company with a suite of artificial intelligence (AI) software that resulted in us acquiring approximately 15% economic interest in C3.ai. In April and June 2019, we also entered into agreements with C3.ai under which, among other things, we received a three-year subscription (which we refer to below as direct subscription fees) to use certain C3.ai offerings for internal use and the development of applications on the C3.ai AI Suite, as well as the right to resell C3.ai offerings worldwide on an exclusive basis in the oil and gas market and, with C3.ai's prior consent, non-exclusively in other markets, in each case subject to certain exceptions and conditions. This arrangement was subsequently revised in September 2019 and again in June 2020, when the term was extended to a total of five years with an expiration date in the fiscal year ending April 30, 2024 and the annual contractual amounts of our minimum revenue commitment were modified to $53 million, $75 million, $125 million, and $150 million per year, which amounts are inclusive of the revised direct subscription fees of approximately $28 million per year, over the fiscal years ending April 30, 2021, 2022, 2023, and 2024, respectively. To the extent we are unable to meet the annual minimum revenue commitment under such arrangement, we are obligated to pay C3.ai the shortfall; if we exceed the annual minimum revenue commitment, C3.ai will pay us a sales commission. For the fiscal year ended April 30, 2020, we fulfilled the annual minimum revenue commitment. Lorenzo Simonelli, Chief Executive Officer of Baker Hughes, serves as a member of the board of directors of C3.ai. As of December 31, 2020, we hold an economic interest in C3.ai of approximately 11%. See “Note 16. Financial Instruments” for further discussion of our investment in C3.ai.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
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. During 2014, we received notification from a customer related to a possible equipment failure in a natural gas storage system in Northern Germany, which includes certain of our products. The customer initiated arbitration proceedings against us on June 19, 2015, under the rules of the German Institute of Arbitration e.V. (DIS). On August 3, 2016, the customer amended its claims and alleged damages of €202 million plus interest at an annual rate of prime + 5%. Hearings before the arbitration panel were held January 16, 2017 through January 23, 2017, and March 20, 2017 through March 21, 2017. In addition, on September 21, 2015, TRIUVA Kapitalverwaltungsgesellschaft mbH (TRIUVA) filed a lawsuit in the United States District Court for the Southern District of Texas, Houston Division against the Company and Baker Hughes Oilfield Operations, Inc. alleging that the plaintiff is the owner of gas storage caverns in Etzel, Germany in which the Company provided certain equipment in connection with the development of the gas storage caverns. The plaintiff further alleges that the Company supplied equipment that was either defectively designed or failed to warn of risks that the equipment posed, and that these alleged defects caused damage to the plaintiff's property. The plaintiff seeks recovery of alleged compensatory and punitive damages of an unspecified amount, in addition to reasonable attorneys' fees, court costs and pre-judgment and post-judgment interest. The allegations in this lawsuit are related to the claims made in the June 19, 2015 German arbitration referenced above. On June 7, 2018, the DIS arbitration panel issued a confidential Arbitration Ruling, which addressed all claims asserted by the customer. The estimated financial impact of the Arbitration Ruling has been reflected in the Company's financial statements and did not have a material impact. Further, on March 11, 2019, the customer initiated a second arbitral proceeding against us, under the rules of the German Institute of Arbitration e.V. (DIS). The customer alleged damages of €142 million plus interest at an annual rate of prime + 5% since June 20, 2015. The allegations in this second arbitration proceeding are related to the claims made in the June 19, 2015 German arbitration and Houston Federal Court proceedings referenced above. The Company is contesting the claims made by TRIUVA in the Houston Federal Court and the claims made by the customer in the second arbitration proceeding. In October 2020, the DIS notified the Company of a partial award in the second arbitration, which addressed certain of the claims asserted by the customer. At this time, we are not able to predict the outcome of the claims asserted in the Houston Federal Court or the claims that remain pending in the second arbitration. In January 2013, INEOS and Naphtachimie initiated expertise proceedings in Aix-en-Provence, France arising out of a fire at a chemical plant owned by INEOS in Lavera, France, which resulted in a 15-day plant shutdown and destruction of a steam turbine, which was part of a compressor train owned by Naphtachimie. The most recent quantification of the alleged damages is €250 million. Two of the Company's subsidiaries (and 17 other companies) were notified to participate in the proceedings. The proceedings are ongoing, and at this time, there is no indication that the Company's subsidiaries were involved in the incident. Although the outcome of the claims remains uncertain, our insurer has accepted coverage and is defending the Company in the expertise proceeding. On July 31, 2018, International Engineering & Construction S.A. (IEC) initiated arbitration proceedings in New York administered by the International Center for Dispute Resolution (ICDR) against the Company and its subsidiaries arising out of a series of sales and service contracts entered between IEC and the Company’s subsidiaries for the sale and installation of LNG plants and related power generation equipment in Nigeria (Contracts). Prior to the filing of the IEC Arbitration, the Company’s subsidiaries made demands for payment due under the Contracts. On August 15, 2018, the Company’s subsidiaries initiated a separate demand for ICDR arbitration against IEC for claims of additional costs and amounts due under the Contracts. On October 10, 2018, IEC filed a Petition to Compel Arbitration in the United States District Court for the Southern District of New York against the Company seeking to compel non-signatory Baker Hughes entities to participate in the arbitration filed by IEC. The complaint is captioned International Engineering & Construction S.A. et al. v. Baker Hughes, a GE company, LLC, et al. No. 18-cv-09241 (S.D.N.Y 2018); this action was dismissed by the Court on August 13, 2019. In the arbitration, IEC alleges breach of contract and other claims against the Company and its subsidiaries and seeks recovery of alleged compensatory damages, in addition to reasonable attorneys' fees, expenses and arbitration costs. On March 15, 2019, IEC amended its request for arbitration to alleged damages of $591 million of lost profits plus unspecified additional costs based on alleged non-performance of the contracts in dispute. The arbitration hearing was held from December 9, 2019 to December 20, 2019. On March 3, 2020, IEC amended their damages claim to $700 million of alleged loss cash flow or, in the alternative, $244.9 million of lost profits and various costs based on alleged non-performance of the contracts in dispute, and in addition $4.8 million of liquidated damages, $58.6 million in take-or-pay costs of feed gas, and unspecified additional costs of rectification and take-or-pay future obligations, plus unspecified interest and attorneys' fees. On May 3, 2020, the arbitration panel dismissed IEC's request for take-or-pay damages. On May 29, 2020, IEC quantified their claim for legal fees at $14.2 million and reduced their alternative claim from $244.9 million to approximately $235 million. The Company and its subsidiaries have contested IEC’s claims and are pursuing claims for compensation under the contracts. On October 31, 2020, the ICDR notified the arbitration panel’s final award, which dismissed the majority of IEC’s claims and awarded a portion of the Company’s claims. On January 27, 2021, IEC filed a petition to vacate the arbitral award in the Supreme Court of New York, County of New York. 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. In March 2019, the Company received a document request from the United States Department of Justice (the “DOJ”) related to certain of the Company’s operations in Iraq and its dealings with Unaoil Limited and its affiliates. In December 2019, the Company received a similar document request from the Securities Exchange Commission (the "SEC"). The Company is cooperating with the DOJ and the SEC in connection with their requests and any related matters. In addition, the Company has agreed to toll any statute of limitations in connection with the matters subject to the DOJ’s document request. On August 13, 2019, Tri-State Joint Fund filed in the Delaware Court of Chancery, a shareholder class action lawsuit for and on the behalf of itself and all similarly situated public stockholders of Baker Hughes Incorporated (“BHI”) against the General Electric Company (GE), the former members of the Board of Directors of BHI, and certain former BHI Officers alleging breaches of fiduciary duty, aiding and abetting, and other claims in connection with the combination of BHI and the oil and gas business (GE O&G) of GE (the Transactions). On October 28, 2019, City of Providence filed in the Delaware Court of Chancery a shareholder class action lawsuit for and on behalf of itself and all similarly situated public shareholders of BHI against GE, the former members of the Board of Directors of BHI, and certain former BHI Officers alleging substantially the same claims in connection with the Transactions. The relief sought in these complaints include a request for a declaration that Defendants breached their fiduciary duties, an award of damages, pre- and post-judgment interest, and attorneys’ fees and costs. The lawsuits have been consolidated, and plaintiffs filed a consolidated class action complaint on December 17, 2019 against certain former BHI officers alleging breaches of fiduciary duty and against GE for aiding and abetting those breaches. The December 2019 complaint omitted the former members of the Board of Directors of BHI, except for Mr. Craighead who also served as President and CEO of BHI. Mr. Craighead and Ms. Ross, who served as Senior Vice President and Chief Financial Officer of BHI, remain named in the December 2019 complaint along with GE. The relief sought in the consolidated complaint includes a declaration that the former BHI officers breached their fiduciary duties and that GE aided and abetted those breaches, an award of damages, pre- and post-judgment interest, and attorneys’ fees and costs. On or around February 12, 2020, the defendants filed motions to dismiss the lawsuit on the grounds that the complaint failed to state a claim on which relief could be granted. On or around October 27, 2020, the Chancery Court granted GE’s motion to dismiss, and granted in part the motion to dismiss filed by Mr. Craighead and Ms. Ross, thereby dismissing all of the claims against GE and Ms. Ross, and all but one of the claims against Mr. Craighead. At this time, we are not able to predict the outcome of the remaining claim. On December 11, 2019, BMC Software, Inc. (“BMC”) filed a lawsuit in federal court in the Southern District of Texas against Baker Hughes, a GE company, LLC alleging trademark infringement, unfair competition, and unjust enrichment, arising out of the Company’s use of its new logo and affiliated branding. On January 1, 2020, BMC amended its complaint to add Baker Hughes Company. The relief sought in the complaint includes a request for injunctive relief, an award of damages (including punitive damages), pre- and post-judgment interest, and attorneys’ fees and costs. At this time, we are not able to predict the outcome of these claims. In December 2020, the Company received notice that the SEC is conducting a formal investigation that the Company understands is related to its books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions. The Company is cooperating with the SEC and providing requested information. The Company has also initiated an internal review with the assistance of external legal counsel regarding internal controls and compliance related to U.S. sanctions requirements. The SEC's investigation and the Company's internal review are ongoing, and the Company cannot anticipate the timing, outcome or possible impact of the investigation or review, financial or otherwise. We insure against risks arising from our business to the extent deemed prudent by our management and to the extent insurance is available, but no assurance can be given that the nature and amount of that insurance will be sufficient to fully indemnify us against liabilities arising out of pending or future legal proceedings or other claims. Most of our insurance policies contain deductibles or self-insured retentions in amounts we deem prudent and for which we are responsible for payment. In determining the amount of self-insurance, it is our policy to self-insure those losses that are predictable, measurable and recurring in nature, such as claims for automobile liability, general liability and workers compensation. 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. Pursuant to recent SEC amendments to this item, the Company will be using 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, which totaled approximately $4.1 billion at December 31, 2020. It is not practicable to estimate the fair value of these financial instruments. None of the off-balance sheet arrangements either has, or is likely to have, a material effect on our financial position, results of operations or cash flows. We also had commitments outstanding for purchase obligations for each of the five years in the period ending December 31, 2025 of $838 million, $86 million, $37 million, $8 million and $5 million, respectively, and $18 million in the aggregate thereafter.

Restructuring, Impairment and O

Restructuring, Impairment and Other	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring, Impairment and Other	RESTRUCTURING, IMPAIRMENT AND OTHER In the first quarter of 2020, in response to the impact on our business from the COVID-19 pandemic and the significant decline in oil and gas prices, we approved a plan of $1.8 billion (the 2020 Plan) primarily associated with rationalizing certain product lines and restructuring our business, which is designed to, among other things, right-size our operations for anticipated activity levels and market conditions. During the remainder of the year, we incurred additional charges not originally contemplated by the 2020 Plan, primarily in our OFS segment to address the challenging market conditions in the upstream oil and gas market. We recorded restructuring, impairment and other charges totaling $1,866 million, and inventory impairments of $246 million in 2020. See "Note 4. Inventories" for further discussion. Substantially all of the activities and charges associated with the original 2020 Plan were completed by December 31, 2020. During the years ended December 31, 2019 and 2018, we recorded restructuring, impairment and other charges of $342 million, and $433 million, respectively. These charges are included in the "Restructuring, impairment and other" caption in the consolidated statements of income (loss). Details of all these charges are discussed below. RESTRUCTURING AND IMPAIRMENT CHARGES In the current and prior periods, we approved various restructuring plans globally, mainly to consolidate manufacturing and service facilities, rationalize product lines and rooftops, and reduce headcount across various functions. As a result, we recognized a charge of $903 million, $314 million and $304 million for the years ended December 31, 2020, 2019 and 2018, respectively. The following table presents the restructuring and impairment charges by the impacted segment, however, these charges are not included in the reported segment results. 2020 2019 2018 Oilfield Services $ 675 $ 211 $ 160 Oilfield Equipment 125 18 25 Turbomachinery & Process Solutions 35 48 71 Digital Solutions 54 15 17 Corporate 14 22 31 Total $ 903 $ 314 $ 304 Restructuring and impairment charges were primarily related to employee termination expenses from reducing our headcount in certain geographical locations, and product line rationalization, including plant closures and related expenses such as property, plant and equipment impairments, and other incremental costs that were a direct result of the restructuring plans. 2020 2019 2018 Property, plant & equipment, net $ 385 $ 107 $ 80 Employee-related termination expenses 464 179 123 Asset relocation costs 15 4 28 Contract termination fees 23 12 44 Other incremental costs 16 12 29 Total $ 903 $ 314 $ 304 OTHER CHARGES Other charges included in "Restructuring, impairment and other" caption in the consolidated statements of income (loss) were $963 million, $28 million, and $129 million for the years ended December 31, 2020, 2019 and 2018, respectively. In 2020, such charges consisted primarily of intangible asset impairments of $605 million driven by our decision to exit certain businesses primarily in our OFS segment, other long-lived asset impairments of $216 million ($124 million of intangible assets, $77 million of property, plant and equipment and $15 million of other assets) in our OFE segment, other charges of $73 million driven by certain litigation matters and the impairment of an equity method investment, and charges of $61 million related to corporate facility rationalization. In 2019, such charges primarily relate to currency devaluations in our OFS segment. In 2018, other charges consist primarily of accelerated amortization of $80 million related to trade names and technology in our OFS segment, litigation charges of $25 million in Corporate and costs of $13 million to exit certain operations that impacted our TPS and OFS segments.

Business Dispositions

Business Dispositions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Business Dispositions	BUSINESS DISPOSITIONS We completed several product line 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). • In October 2020, we completed the sale of our Surface Pressure Control Flow business, a non-strategic product line in our OFE 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 OFS 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. • In July 2019, we completed the sale of our high-speed reciprocating compression (Recip) business. Recip was part of our TPS segment and provided high-speed reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries. The sale resulted in a loss before income taxes of $138 million. • In October 2018, we completed the sale of our Natural Gas Solution (NGS) business. NGS was part of our TPS segment and provided commercial and industrial products such as gas meters, chemical injection pumps, pipeline repair products and electric actuators. The sale resulted in a gain before income taxes of $171 million.

Supplementary Information

Supplementary Information	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Supplementary Information	SUPPLEMENTARY INFORMATION ALL OTHER CURRENT LIABILITIES All other current liabilities as of December 31, 2020 and 2019 include $910 million and $1,121 million, respectively, of employee related liabilities. PRODUCT WARRANTIES We provide for estimated product warranty expenses when we sell the related products. Because warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, claims costs may differ from amounts provided. An analysis of changes in the liability for product warranties are as follows: 2020 2019 Balance at beginning of year $ 220 $ 236 Provisions 6 4 Expenditures (11) (14) Other 1 (6) Balance at end of year $ 216 $ 220 ALLOWANCE FOR CREDIT LOSSES The change in allowance for credit losses is as follows: 2020 2019 Balance at beginning of year $ 323 $ 327 Provision 66 48 Write-offs & other (16) (52) Balance at end of year $ 373 $ 323 CASH FLOW DISCLOSURES Supplemental cash flow disclosures are as follows for the years ended December 31: 2020 2019 2018 Income taxes paid, net of refunds $ 441 $ 438 $ 424 Interest paid $ 289 $ 285 $ 301

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	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. All intercompany accounts and transactions have been eliminated. We hold a majority economic interest in Baker Hughes Holdings LLC (BHH LLC) and conduct and exercise full control over all activities of BHH LLC without the approval of any other member. Accordingly, we consolidate the financial results of BHH LLC and report a noncontrolling interest in our consolidated financial statements for the economic interest held by GE. As of December 31, 2020, GE's economic interest in BHH LLC was 30.1%. See "Note 14. Equity" for further information. 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.
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, including 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; and expense allocations for certain corporate functions and shared services provided by GE.
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, are included in the consolidated statements of income (loss).
Revenue from Sale of Equipment and Services	Revenue from Sale of Equipment Performance Obligations Satisfied Over Time We recognize revenue on agreements for sales of goods 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 include goods 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 products 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 goods and that acceptance is likely to occur. Our billing terms for these point in time equipment contracts vary, but are generally based on shipment of the goods 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 Turbomachinery & Process Solutions and Oilfield Equipment segments. 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, drilling rigs). These services are performed at various times during the life of the contract, thus the costs of performing services are incurred on other than a 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 is 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 goods 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 $595 million, $687 million and $700 million for the years ended December 31, 2020, 2019 and 2018, respectively. Research and development expenses were reported in cost of goods sold and cost of services sold.
Separation and Merger Related	Separation and Merger RelatedIn 2020 and 2019, separation and merger related costs primarily include costs incurred in connection with the separation from GE and the finalization of the Master Agreement Framework and Omnibus Agreement. Prior to 2019, separation and merger related costs primarily include costs associated with the combination of BHI and GE O&G.
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. As of December 31, 2020 and 2019, we had $687 million and $1,102 million, respectively, of cash held in bank accounts that cannot be released, transferred or otherwise converted into a currency that is regularly transacted internationally, due to lack of market liquidity, capital controls or similar monetary or exchange limitations limiting the flow of capital out of the jurisdiction. These funds are available to fund operations and growth in these jurisdictions and we do not currently anticipate a need to transfer these funds to the U.S. Included in these amounts are $42 million and $142 million, as of December 31, 2020 and 2019, respectively, held on behalf of GE. Cash and cash equivalents includes a total of $44 million and $162 million of cash at December 31, 2020 and 2019, respectively, held on behalf of GE, and a corresponding liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details.
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 RiskWe grant credit to our customers who primarily operate in the oil and natural gas industry. Although this concentration affects our overall exposure to credit risk, our current receivables are spread over a diverse group of customers across many countries, which mitigates this risk. We 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	InventoriesAll 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 OFS 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 6. 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.
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. These assets are not measured at fair value on an ongoing basis, but 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 and 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. Assets that are written down to fair value when impaired and retained investments are not subsequently adjusted to fair value unless further impairment occurs.
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). Associated companies are 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%. Associated companies are accounted for as equity method investments. The results of associated companies are presented in the consolidated statements of income (loss) as follows: (i) if the associated company is integral to our operations, their results are included in "Selling, general and administrative," (ii) if the associated company is not integral to our operations, their results are included in "Other non-operating income (loss), net," and (iii) our equity method investment in BJ Services, which was a Delaware limited liability company, is presented in "Equity in loss of affiliate." Investments in, and advances to, associated companies are presented on a one-line basis in the caption "All other assets" in our consolidated statement of financial position.
Income Taxes	Income Taxes We file U.S. federal and state income tax returns which after the closing of the Transactions 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 tax return bases of assets and liabilities as well as from net operating losses and tax credit carryforwards, based on enacted tax rates expected to be in effect when taxes actually are paid or recovered and other provisions of the tax law. 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 may not more likely than not 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 otherwise 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. We operate in more than 120 countries and 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 recorded.
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 Adopted and To Be Adopted	NEW ACCOUNTING STANDARDS ADOPTED Financial Instruments - Credit Losses On January 1, 2020, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses. The ASU introduces a new accounting model, the Current Expected Credit Losses model (CECL), which requires earlier recognition of credit losses and additional disclosures related to credit risk. The CECL model utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses for loans and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. This model replaces the multiple existing impairment models previously used under U.S. GAAP, which generally require that a loss be incurred before it is recognized. The new standard also applies to financial assets arising from revenue transactions such as contract assets and accounts receivables. The adoption did not have a material impact on our consolidated financial statements. Intangibles - Goodwill and Other On January 1, 2020, we adopted FASB ASU No. 2017-04, Intangibles - Goodwill and Other - Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating the requirement to calculate the fair value of the individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the new ASU, when required to test goodwill for recoverability, an entity will perform its goodwill impairment test by comparing the fair value of the reporting unit with its carrying value and should recognize an impairment charge for the amount by which the carrying value exceeds the fair value of the reporting unit. We have applied this ASU on a prospective basis. See "Note 6. Goodwill and Other Intangible Assets" for further details. NEW ACCOUNTING STANDARDS TO BE ADOPTED All other new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

Revenue Related to Contracts _2

Revenue Related to Contracts With Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregated revenue from contracts with customers by primary geographical markets	We disaggregate our revenue from contracts with customers by primary geographic markets. Total Revenue 2020 2019 2018 U.S. $ 4,638 $ 6,188 $ 6,576 Non-U.S. 16,067 17,650 16,301 Total $ 20,705 $ 23,838 $ 22,877

Current Receivables (Tables)

Current Receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Current receivables	Current receivables are comprised of the following at December 31: 2020 2019 Customer receivables $ 4,676 $ 5,448 Related parties 429 495 Other 890 796 Total current receivables 5,995 6,739 Less: Allowance for credit losses (373) (323) Total current receivables, net $ 5,622 $ 6,416 The change in allowance for credit losses is as follows: 2020 2019 Balance at beginning of year $ 323 $ 327 Provision 66 48 Write-offs & other (16) (52) Balance at end of year $ 373 $ 323

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory, Net [Abstract]
Inventories, net of reserves	Inventories, net of reserves of $421 million and $429 million in 2020 and 2019, respectively, are comprised of the following at December 31: 2020 2019 Finished goods $ 2,337 $ 2,546 Work in process and raw materials 2,084 2,062 Total inventories, net $ 4,421 $ 4,608

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment are comprised of the following at December 31: Useful Life 2020 2019 Land and improvements (1) 8 - 20 years (1) $ 404 $ 430 Buildings, structures and related equipment 5 - 40 years 2,618 2,870 Machinery, equipment and other 2 - 20 years 7,451 7,324 Total cost 10,473 10,624 Less: Accumulated depreciation (5,115) (4,384) Property, plant and equipment, less accumulated depreciation $ 5,358 $ 6,240 (1) Useful life excludes land.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying value of goodwill are detailed below by segment: Oilfield Services Oilfield Equipment Turbo-machinery & Process Solutions Digital Solutions Total Balance at December 31, 2018, gross $ 15,676 $ 4,177 $ 2,186 $ 2,432 $ 24,471 Accumulated impairment at December 31, 2018 (2,633) (867) — (254) (3,754) Balance at December 31, 2018 13,043 3,310 2,186 2,178 20,717 Currency exchange and others — 9 (15) (21) (27) Balance at December 31, 2019 13,043 3,319 2,171 2,157 20,690 Impairment (11,484) (3,289) — — (14,773) Currency exchange and others (20) (24) 63 41 60 Balance at December 31, 2020 $ 1,539 $ 6 $ 2,234 $ 2,198 $ 5,977
Schedule of finite-lived intangible assets	Intangible assets are comprised of the following at December 31: 2020 2019 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 2,261 $ (916) $ 1,345 $ 3,027 $ (1,045) $ 1,982 Technology 1,127 (696) 431 1,075 (626) $ 449 Trade names and trademarks 326 (181) 145 696 (254) 442 Capitalized software 1,294 (1,041) 253 1,193 (928) 265 Other — — — 3 (2) 1 Finite-lived intangible assets (1) 5,008 (2,834) 2,174 5,994 (2,855) 3,139 Indefinite-lived intangible assets 2,223 — 2,223 2,242 — 2,242 Total intangible assets $ 7,231 $ (2,834) $ 4,397 $ 8,236 $ (2,855) $ 5,381 (1) For the year ended December 31, 2020, we recorded intangible asset impairments to customer relationships of $481 million, technology of $8 million, trade names and trademarks of $237 million, and capitalized software of $3 million. See "Note 20. Restructuring, Impairment and Other" for further discussion.
Schedule of indefinite-lived intangible assets	Intangible assets are comprised of the following at December 31: 2020 2019 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 2,261 $ (916) $ 1,345 $ 3,027 $ (1,045) $ 1,982 Technology 1,127 (696) 431 1,075 (626) $ 449 Trade names and trademarks 326 (181) 145 696 (254) 442 Capitalized software 1,294 (1,041) 253 1,193 (928) 265 Other — — — 3 (2) 1 Finite-lived intangible assets (1) 5,008 (2,834) 2,174 5,994 (2,855) 3,139 Indefinite-lived intangible assets 2,223 — 2,223 2,242 — 2,242 Total intangible assets $ 7,231 $ (2,834) $ 4,397 $ 8,236 $ (2,855) $ 5,381 (1) For the year ended December 31, 2020, we recorded intangible asset impairments to customer relationships of $481 million, technology of $8 million, trade names and trademarks of $237 million, and capitalized software of $3 million. See "Note 20. Restructuring, Impairment and Other" for further discussion.
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 2021 $ 255 2022 214 2023 200 2024 182 2025 142

Contract and Other Deferred A_2

Contract and Other Deferred Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	Contract assets are comprised of the following at December 31: 2020 2019 Long-term product service agreements $ 660 $ 603 Long-term equipment contracts (1) 1,160 1,097 Contract assets (total revenue in excess of billings) 1,820 1,700 Deferred inventory costs 138 130 Non-recurring engineering costs 43 51 Contract and other deferred assets $ 2,001 $ 1,881 (1) Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements. 2020 2019 Progress collections $ 3,352 $ 2,760 Deferred income 102 110 Progress collections and deferred income (contract liabilities) $ 3,454 $ 2,870

Progress Collections and Defe_2

Progress Collections and Deferred Income (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue Recognition and Deferred Revenue [Abstract]
Contract liabilities	Contract assets are comprised of the following at December 31: 2020 2019 Long-term product service agreements $ 660 $ 603 Long-term equipment contracts (1) 1,160 1,097 Contract assets (total revenue in excess of billings) 1,820 1,700 Deferred inventory costs 138 130 Non-recurring engineering costs 43 51 Contract and other deferred assets $ 2,001 $ 1,881 (1) Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements. 2020 2019 Progress collections $ 3,352 $ 2,760 Deferred income 102 110 Progress collections and deferred income (contract liabilities) $ 3,454 $ 2,870

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of operating lease expense	The following table presents operating lease expense: Operating Lease Expense 2020 2019 Long-term fixed lease $ 288 $ 233 Long-term variable lease 25 48 Short-term lease (1) 477 706 Total operating lease expense $ 790 $ 987 (1) Leases with a term of one year or less, including leases with a term of one month or less.
Maturities of lease liabilities, operating leases	As of December 31, 2020, maturities of our operating lease liabilities are as follows: Year Operating Leases 2021 $ 235 2022 172 2023 114 2024 78 2025 60 Thereafter 313 Total lease payments 972 Less: imputed interest 163 Total $ 809
Schedule of liabilities	Amounts recognized in the consolidated statement of financial position for operating leases are as follows: 2020 2019 All other current liabilities $ 218 $ 201 All other liabilities 591 641 Total $ 809 $ 842

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-term and long-term borrowings	Short-term and long-term borrowings are comprised of the following at December 31: 2020 2019 Amount Weighted Average Rate (1) Amount Weighted Average Rate (1) Short-term borrowings Commercial paper $ 801 0.5 % $ — n/a Short-term borrowings from GE 45 n/a 273 n/a Other borrowings 43 4.2 % 48 4.8 % Total short-term borrowings 889 321 Long-term borrowings 2.773% Senior Notes due December 2022 1,247 2.9 % 1,246 2.9 % 8.55% Debentures due June 2024 (2) 123 4.1 % 127 4.1 % 3.337% Senior Notes due December 2027 1,344 3.4 % 1,343 3.4 % 6.875% Notes due January 2029 (2) 284 3.9 % 289 3.9 % 3.138% Senior Notes due November 2029 522 3.2 % 522 3.2 % 4.486% Senior Notes due May 2030 497 4.6 % — n/a 5.125% Senior Notes due September 2040 (2) 1,297 4.2 % 1,301 4.2 % 4.080% Senior Notes due December 2047 1,337 4.1 % 1,337 4.1 % Other long-term borrowings 93 3.0 % 136 3.4 % Total long-term borrowings 6,744 6,301 Total borrowings $ 7,633 $ 6,622 (1) Weighted average effective interest rate is based on the carrying value including step-up adjustments, as applicable, recorded upon the acquisition of BHI. See "Note 1. Summary of Significant Accounting Policies" for further discussion. (2) Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI, net of amounts repurchased subsequent to the closing of the Transactions.
Schedule of maturities of debt	Maturities of debt for each of the five years in the period ending December 31, 2025, and in the aggregate thereafter, are listed in the table below: 2021 2022 2023 2024 2025 Thereafter Total debt $ 889 $ 1,254 $ 4 $ 173 $ 19 $ 5,294

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Defined benefit plan funded status of plan	Below is the reconciliation of the beginning and ending balances of benefit obligations, fair value of plan assets and the funded status of our plans. Pension Benefits Other Postretirement 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 3,451 $ 2,261 $ 80 $ 107 Service cost 27 21 — 1 Interest cost 77 90 2 4 Plan amendment 1 — (18) — Actuarial loss (gain) (1) 393 301 17 (16) Benefits paid (101) (102) (19) (16) Curtailments (3) (21) — — Settlements (79) (36) — — Transfer from GE - UK Plan — 837 — — Other — 15 — — Foreign currency translation adjustments 40 85 — — Benefit obligation at end of year 3,806 3,451 62 80 Change in plan assets: Fair value of plan assets at beginning of year 3,004 1,866 — — Actual return on plan assets 347 314 — — Employer contributions 20 23 19 16 Benefits paid (101) (102) (19) (16) Settlements (79) (36) — — Transfer from GE - UK Plan — 851 — — Foreign currency translation adjustments 11 88 — — Fair value of plan assets at end of year 3,202 3,004 — — Funded status - underfunded at end of year $ (604) $ (447) $ (62) $ (80) Accumulated benefit obligation $ 3,755 $ 3,401 $ 62 $ 80 (1) The actuarial loss (gain) was primarily related to a change in the discount rate used to measure the benefit obligation for our plans in 2020 and 2019.
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 Other Postretirement 2020 2019 2020 2019 Noncurrent assets $ 14 $ 78 $ — $ — Current liabilities (18) (17) (9) (11) Noncurrent liabilities (600) (508) (53) (69) Net amount recognized $ (604) $ (447) $ (62) $ (80)
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 Other Postretirement 2020 2019 2020 2019 Projected benefit obligation $ 3,390 $ 1,814 n/a n/a Accumulated benefit obligation $ 3,340 $ 1,763 $ 62 $ 80 Fair value of plan assets $ 2,772 $ 1,288 n/a n/a
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 Other Postretirement 2020 2019 2020 2019 Projected benefit obligation $ 3,390 $ 1,814 n/a n/a Accumulated benefit obligation $ 3,340 $ 1,763 $ 62 $ 80 Fair value of plan assets $ 2,772 $ 1,288 n/a n/a
Schedule of net period cost (income)	The components of net periodic cost (income) are as follows: Pension Benefits Other Postretirement 2020 2019 2018 2020 2019 2018 Service cost $ 27 $ 21 $ 21 $ — $ 1 $ 2 Interest cost 77 90 71 2 4 5 Expected return on plan assets (121) (122) (121) — — — Amortization of prior service credit 1 1 — (3) (3) (5) Amortization of net actuarial loss (gain) 34 17 10 (3) (7) (2) Curtailment / settlement loss (gain) 10 9 2 — — (5) Net periodic cost (income) $ 28 $ 16 $ (17) $ (4) $ (5) $ (5)
Weighted average assumptions used to determine benefit obligations	Weighted average assumptions used to determine benefit obligations for these plans are as follows: Pension Benefits Other Postretirement 2020 2019 2020 2019 Discount rate 1.66 % 2.34 % 1.67 % 2.89 % Rate of compensation increase 3.25 % 3.11 % n/a n/a Interest crediting rate 2.60 % 2.60 % n/a n/a
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 Other Postretirement 2020 2019 2018 2020 2019 2018 Discount rate 2.34 % 3.43 % 2.99 % 2.35 % 3.92 % 3.32 % Expected long-term return on plan assets 4.20 % 5.48 % 5.94 % n/a n/a n/a Interest crediting rate 2.60 % 3.15 % 2.60 % n/a n/a n/a
Accumulated other comprehensive loss	The amount recorded before-tax in accumulated other comprehensive loss related to employee benefit plans consists of the following at December 31: Pension Benefits Other Postretirement 2020 2019 2020 2019 Net actuarial loss (gain) $ 527 $ 395 $ (30) $ (38) Net prior service cost (credit) 18 19 (17) (15) Total $ 545 $ 414 $ (47) $ (53)
Fair values of the assets in U.S. Plan	The table below presents the fair value of the pension assets at December 31: 2020 2019 Debt securities Fixed income and cash investment funds $ 1,807 $ 1,858 Equity securities Global equity securities (1) 346 333 U.S. equity securities (1) 299 258 Insurance contracts 120 — Real estate 85 84 Private equities 52 51 Other investments (2) 493 420 Total plan assets $ 3,202 $ 3,004 (1) Include direct investments and investment funds. (2) Consists primarily of asset allocation fund investments.
Expected future benefit payments	The following table presents the expected benefit payments over the next 10 years. The U.S. and non-U.S. pension benefit payments are made by the respective pension trust funds. Year Pension Other Postretirement 2021 $ 173 $ 10 2022 131 7 2023 130 6 2024 135 5 2025 136 5 2026-2030 743 18

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Provision or benefit for income taxes	The provision or benefit for income taxes is comprised of the following: 2020 2019 2018 Current: U.S. $ (59) $ (12) $ 63 Foreign 458 443 444 Total current 399 431 507 Deferred: U.S. 11 (12) (211) Foreign 149 63 (38) Total deferred 160 51 (249) Provision for income taxes $ 559 $ 482 $ 258
Geographic sources of income before income taxes	The geographic sources of income (loss) before income taxes, inclusive of equity in loss of affiliate, are as follows: 2020 2019 2018 U.S. $ (14,288) $ (693) $ (672) Foreign (914) 1,446 1,213 Income (loss) before income taxes, inclusive of equity in loss of affiliate $ (15,202) $ 753 $ 541
Difference between provision and U.S. statutory tax rate	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: 2020 2019 2018 Income (loss) before income taxes, inclusive of equity in loss of affiliate $ (15,202) $ 753 $ 541 Taxes at the U.S. federal statutory income tax rate (3,192) 158 114 Impact of goodwill impairment 3,102 — — Effect of foreign operations 183 85 103 Tax impact of partnership structure (33) 17 80 Change in valuation allowances 494 241 87 CARES Act (117) — — Tax Cuts and Jobs Act enactment — — (107) Other - net 122 (19) (19) Provision for income taxes $ 559 $ 482 $ 258 Actual income tax rate (3.7)% 64.0% 47.7%
Deferred tax assets and liabilities	The tax effects of our temporary differences and carryforwards are as follows at December 31: 2020 2019 Deferred tax assets: Operating loss carryforwards $ 2,249 $ 1,654 Tax credit carryforwards 1,083 941 Investment in partnership 160 381 Goodwill and other intangibles 143 117 Employee benefits 138 98 Property 127 137 Receivables 53 79 Inventory 51 91 Other 264 317 Total deferred income tax asset 4,268 3,815 Valuation allowances (3,472) (2,883) Total deferred income tax asset after valuation allowance 796 932 Deferred tax liabilities: Other (29) (29) Total deferred income tax liability (29) (29) Net deferred tax asset $ 767 $ 903
Rollforward of unrecognized tax benefits and associated interest and penalties	The following table presents the changes in our gross unrecognized tax benefits included in the consolidated statements of financial position. Asset / (Liability) 2020 2019 Balance at beginning of year $ (451) $ (472) Additions for tax positions of the current year (71) (25) Additions for tax positions of prior years (31) (27) Reductions for tax positions of prior years 35 55 Settlements with tax authorities 12 6 Lapse of statute of limitations 23 12 Balance at end of year $ (483) $ (451)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Changes of RSUs and related information	The following table presents the changes in RSUs outstanding and related information (in thousands, except per unit prices): Number of Weighted Average Unvested balance at December 31, 2019 11,285 $ 27.26 Granted 9,301 22.33 Vested (5,066) 29.02 Forfeited (1,228) 24.18 Unvested balance at December 31, 2020 14,292 $ 23.70
Changes of PSUs and related information	The following table presents the changes in PSUs outstanding and related information (in thousands, except per unit prices): Number of Weighted Average Unvested balance at December 31, 2019 2,044 $ 27.91 Granted 1,418 21.37 Forfeited (301) 23.61 Unvested balance at December 31, 2020 3,161 $ 25.39
Weighted average assumptions used in the option pricing model	The following table presents the weighted average assumptions used in the option pricing model for options granted under the LTI Plan. The expected life of the options represents the period of time the options are expected to be outstanding. The expected life is based on a simple average of the vesting term and original contractual term of the awards. The expected volatility is based on the historical volatility of our five main competitors over a six year period. The risk-free interest rate is based on the observed U.S. Treasury yield curve in effect at the time the options were granted. In 2019, the dividend yield is based on Baker Hughes' current annual cash dividend divided by the valuation date stock price. Prior to 2019, the dividend yield was based on a five year history of dividend payouts by BHI. We did not grant any stock options during 2020. 2019 2018 Expected life (years) 6 6 Risk-free interest rate 2.6 % 2.5 % Volatility 36.5 % 33.7 % Dividend yield 3.1 % 2.0 % Weighted average fair value per share at grant date $ 6.37 $ 10.34
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 Weighted Average Outstanding at December 31, 2019 8,410 $ 32.50 Exercised (17) 21.80 Forfeited (292) 25.89 Expired (816) 33.90 Outstanding at December 31, 2020 7,285 $ 32.63 Exercisable at December 31, 2020 5,882 $ 34.32

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of changes in number of shares outstanding	The following table presents the changes in the number of shares outstanding (in thousands): 2020 2019 Class A Common Stock Class B Common Stock Class A Common Stock Class B Common Stock Balance at beginning of year 650,065 377,428 513,399 521,543 Issue of shares upon vesting of restricted stock units (1) 3,548 — 1,973 — Issue of shares on exercises of stock options (1) 13 — 362 — Issue of shares for employee stock purchase plan 4,378 — 2,081 — Exchange of Class B common stock for Class A common stock (2) 65,995 (65,995) 132,250 (132,250) Repurchase and cancellation of Class B common stock (3) — — — (11,865) Balance at end of year 723,999 311,433 650,065 377,428 (1) Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation. (2) In 2020, GE exchanged 66 million shares of Class B common stock and paired LLC Units for Class A common stock. In 2019, we completed underwritten secondary public offerings in which GE and its affiliates sold 132 million shares of our Class A common stock. We did not receive any proceeds from the shares sold by GE and its affiliates in these offerings. The offerings included the exchange by GE and its affiliates of LLC Units, together with the corresponding shares of our Class B common stock, for Class A common stock. 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. (3) In 2019, we repurchased and canceled 12 million shares of Class B common stock, together with an equal number of associated LLC Units, from GE and its affiliates for an aggregate of $250 million, or $21.07 per share, which is the same per share price paid by the underwriters to GE and its affiliates in the concurrent underwritten secondary public offering.
Schedule of accumulated other comprehensive loss	The following table presents the changes in accumulated other comprehensive loss, net of tax: Investment Securities Foreign Currency Translation Adjustments Cash Flow Hedges Benefit Plans Accumulated Other Comprehensive Loss Balance at December 31, 2018 $ — $ (1,152) $ (1) $ (66) $ (1,219) Other comprehensive income (loss) before reclassifications 2 53 13 (122) (54) Amounts reclassified from accumulated other comprehensive loss — — 1 26 27 Deferred taxes — — (2) 21 19 Other comprehensive income (loss) 2 53 12 (75) (8) Less: Other comprehensive income (loss) attributable to noncontrolling interests 1 23 4 (29) (1) Less: Reallocation of AOCL based on change in ownership of BHH LLC Units — 314 — 36 350 Less: Other adjustments — — 1 59 60 Balance at December 31, 2019 1 (1,436) 6 (207) (1,636) Other comprehensive income (loss) before reclassifications (2) 175 (2) (181) (10) Amounts reclassified from accumulated other comprehensive loss — — (4) 51 47 Deferred taxes — — 1 5 6 Other comprehensive income (loss) (2) 175 (5) (125) 43 Less: Other comprehensive income (loss) attributable to noncontrolling interests (1) 40 (2) (37) — Less: Reallocation of AOCL based on change in ownership of BHH LLC Units — 163 — 22 185 Balance at December 31, 2020 $ — $ (1,464) $ 3 $ (317) $ (1,778)
Schedule of noncontrolling interest	As of December 31, 2020 and 2019, GE owned approximately 30.1% and 36.7%, respectively, of BHH LLC and this represents the majority of the noncontrolling interest balance reported within equity. 2020 2019 GE's interest in BHH LLC $ 5,216 $ 12,454 Other noncontrolling interests 133 116 Total noncontrolling interests $ 5,349 $ 12,570

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
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) 2020 2019 2018 Net income (loss) $ (15,761) $ 271 $ 283 Less: Net income (loss) attributable to noncontrolling interests (5,821) 143 88 Net income (loss) attributable to Baker Hughes Company $ (9,940) $ 128 $ 195 Weighted average shares outstanding: Class A basic 675 555 427 Class A diluted 675 557 429 Net income (loss) per share attributable to common stockholders: Class A basic $ (14.73) $ 0.23 $ 0.46 Class A diluted $ (14.73) $ 0.23 $ 0.45

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Assets and liabilities measured at fair value on a recurring basis	Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities. 2020 2019 Level 1 Level 2 Level 3 Net Balance Level 1 Level 2 Level 3 Net Balance Assets Derivatives $ — $ 118 $ — $ 118 $ — $ 58 $ — $ 58 Investment securities 1,502 — 30 1,532 24 — 259 283 Total assets 1,502 118 30 1,650 24 58 259 341 Liabilities Derivatives — (52) — (52) — (27) — (27) Total liabilities $ — $ (52) $ — $ (52) $ — $ (27) $ — $ (27)
Changes in the fair value of assets	The following table provides a reconciliation of recurring Level 3 fair value measurements for investment securities: 2020 2019 Balance at beginning of year $ 259 $ 288 Purchases 12 7 Proceeds at maturity (239) (38) Unrealized gains (losses) recognized in accumulated other comprehensive income (loss) (2) 2 Balance at end of year $ 30 $ 259
Schedule of investment securities classified as available for sale	2020 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investment securities Non-U.S. debt securities (1) $ 30 $ — $ — $ 30 $ 257 $ 2 $ — $ 259 Equity securities (2) 76 1,431 (5) 1,502 17 8 (1) 24 Total $ 106 $ 1,431 $ (5) $ 1,532 $ 274 $ 10 $ (1) $ 283 (1) All of our investment securities are classified as available for sale instruments. Non-U.S. debt securities mature within two years. (2) Gains (losses) recorded to earnings related to these securities were $1.4 billion, $2 million and $(25) million for the years ended December 31, 2020, 2019, and 2018, respectively.
Schedule of derivatives	The table below summarizes the fair value of all derivatives, including hedging instruments and embedded derivatives. 2020 2019 Assets (Liabilities) Assets (Liabilities) Derivatives accounted for as hedges Currency exchange contracts $ 5 $ — $ 11 $ — Derivatives not accounted for as hedges Currency exchange contracts and other 113 (52) 47 (27) Total derivatives $ 118 $ (52) $ 58 $ (27)
Schedule of hedging instrument, currency exchange contract	The table below summarizes our hedging instrument activity for currency exchange contracts. 2020 2019 2018 Gain (loss) recognized in AOCI $ (2) $ 13 $ (6) Gain (loss) reclassified from AOCI to earnings $ 4 $ (1) $ (1)
Schedule of gains (losses) from derivatives not designated as hedges	The following table summarizes the gains (losses) from derivatives not designated as hedges on the consolidated statements of income (loss): Derivatives not designated as hedging instruments Consolidated statement of income caption 2020 2019 2018 Currency exchange contracts (1) Cost of goods sold $ 59 $ (13) $ (35) Currency exchange contracts Cost of services sold 62 (15) 32 Commodity derivatives Cost of goods sold 2 2 (1) Other derivatives Other non-operating income (loss), net 8 2 — Total (2) $ 131 $ (24) $ (4) (1) Excludes losses on embedded derivatives of $14 million, $7 million and $3 million for the years ended December 31, 2020, 2019 and 2018, respectively, as embedded derivatives are not considered to be hedging instruments in our economic hedges. (2) The effect on earnings from changes in fair value of derivatives not designated as hedges is substantially offset by the earnings effect of the economically hedged items in the same income statement caption in current and future periods.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summarized financial information	Summarized financial information is shown in the following tables. Consistent accounting policies have been applied by all segments within the Company, for all reporting periods. Segment revenue 2020 2019 2018 Oilfield Services $ 10,140 $ 12,889 $ 11,617 Oilfield Equipment 2,844 2,921 2,641 Turbomachinery & Process Solutions 5,705 5,536 6,015 Digital Solutions 2,015 2,492 2,604 Total $ 20,705 $ 23,838 $ 22,877 The performance of our operating segments is evaluated based on segment operating income (loss), which is defined as income (loss) before income taxes and equity in loss of affiliate and before the following: net interest expense, net other non-operating income (loss), corporate expenses, restructuring, impairment and other charges, inventory impairments, separation and merger related costs, goodwill impairment and certain gains and losses not allocated to the operating segments. Segment income (loss) before income taxes 2020 2019 2018 Oilfield Services $ 487 $ 917 $ 785 Oilfield Equipment 19 55 — Turbomachinery & Process Solutions 805 719 621 Digital Solutions 193 343 390 Total segment 1,504 2,035 1,796 Corporate (464) (433) (405) Inventory impairment and related charges (1) (246) — (105) Goodwill impairment (14,773) — — Restructuring, impairment and other (1,866) (342) (433) Separation and merger related (134) (184) (153) Other non-operating income (loss), net 1,040 (84) 202 Interest expense, net (264) (237) (223) Total $ (15,202) $ 753 $ 680 (1) Inventory impairments and related charges are reported in "Cost of goods sold" of the consolidated statements of income (loss).
Schedule of assets, depreciation, amortization and capital expenditures by segment	The following table presents total assets by segment at December 31: Segment assets 2020 2019 Oilfield Services $ 15,482 $ 30,611 Oilfield Equipment 3,344 7,645 Turbomachinery & Process Solutions 8,951 8,365 Digital Solutions 3,948 3,983 Total segment 31,725 50,604 Corporate and eliminations (1) 6,282 2,765 Total $ 38,007 $ 53,369 (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 2020 2019 2018 Oilfield Services $ 926 $ 985 $ 1,003 Oilfield Equipment 146 175 173 Turbomachinery & Process Solutions 118 116 156 Digital Solutions 98 103 112 Total Segment 1,288 1,379 1,444 Corporate 29 39 42 Total $ 1,317 $ 1,418 $ 1,486
Schedule of revenues and property, plant and equipment, net	The following table presents net property, plant and equipment by its geographic location at December 31: Property, plant and equipment - net 2020 2019 2018 U.S. $ 2,007 $ 2,594 $ 2,654 Non-U.S. 3,351 3,646 3,574 Total $ 5,358 $ 6,240 $ 6,228

Restructuring, Impairment and_2

Restructuring, Impairment and Other (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Impairment and restructuring 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. 2020 2019 2018 Oilfield Services $ 675 $ 211 $ 160 Oilfield Equipment 125 18 25 Turbomachinery & Process Solutions 35 48 71 Digital Solutions 54 15 17 Corporate 14 22 31 Total $ 903 $ 314 $ 304 Restructuring and impairment charges were primarily related to employee termination expenses from reducing our headcount in certain geographical locations, and product line rationalization, including plant closures and related expenses such as property, plant and equipment impairments, and other incremental costs that were a direct result of the restructuring plans. 2020 2019 2018 Property, plant & equipment, net $ 385 $ 107 $ 80 Employee-related termination expenses 464 179 123 Asset relocation costs 15 4 28 Contract termination fees 23 12 44 Other incremental costs 16 12 29 Total $ 903 $ 314 $ 304

Supplementary Information (Tabl

Supplementary Information (Tables)	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Changes in liability for product warranties	An analysis of changes in the liability for product warranties are as follows: 2020 2019 Balance at beginning of year $ 220 $ 236 Provisions 6 4 Expenditures (11) (14) Other 1 (6) Balance at end of year $ 216 $ 220
Allowance for credit losses	Current receivables are comprised of the following at December 31: 2020 2019 Customer receivables $ 4,676 $ 5,448 Related parties 429 495 Other 890 796 Total current receivables 5,995 6,739 Less: Allowance for credit losses (373) (323) Total current receivables, net $ 5,622 $ 6,416 The change in allowance for credit losses is as follows: 2020 2019 Balance at beginning of year $ 323 $ 327 Provision 66 48 Write-offs & other (16) (52) Balance at end of year $ 373 $ 323
Schedule of cash flow supplemental disclosures	Supplemental cash flow disclosures are as follows for the years ended December 31: 2020 2019 2018 Income taxes paid, net of refunds $ 441 $ 438 $ 424 Interest paid $ 289 $ 285 $ 301

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)country	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 16, 2019
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 Turbomachinery & Process Solutions and Oilfield Equipment segments. 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	$ 595	$ 687	$ 700
Restricted cash and cash equivalents held in bank accounts	$ 687	1,102
Number of countries in which entity operates (more than) | country	120
GE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash and cash equivalents held in bank accounts	$ 42	$ 142
GE | BHH LLC | GE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage by noncontrolling owners	30.10%	36.70%
Joint venture, GE aero-derivative gas turbine products and services | JV aero-derivative gas turbine products and services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Related party transaction, joint venture ownership percentage				50.00%
Related party amount, due to related party | GE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents held on behalf of GE	$ 44	$ 162

Revenue Related to Contracts _3

Revenue Related to Contracts With Customers - Disaggregated revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 20,705	$ 23,838	$ 22,877
U.S.
Disaggregation of Revenue [Line Items]
Revenues	4,638	6,188	6,576
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenues	$ 16,067	$ 17,650	$ 16,301

Revenue Related to Contracts _4

Revenue Related to Contracts With Customers - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 23.4	$ 22.9
Period one | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	51.00%
Performance obligations expected to be satisfied, expected timing	2 years
Period two | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	67.00%
Performance obligations expected to be satisfied, expected timing	5 years
Period three | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, percentage	90.00%
Performance obligations expected to be satisfied, expected timing	15 years

Current Receivables (Details)

Current Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	$ 5,995	$ 6,739
Less: Allowance for credit losses	(373)	(323)
Total current receivables, net	5,622	6,416
Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	4,676	5,448
Related parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	429	495
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current receivables, gross	$ 890	$ 796

Inventories (Details)

Inventories (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Inventory valuation reserves	$ 421,000,000	$ 429,000,000
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished goods	2,337,000,000	2,546,000,000
Work in process and raw materials	2,084,000,000	2,062,000,000
Total inventories, net	4,421,000,000	4,608,000,000
Inventory impairment	$ 246,000,000	$ 0	$ 105,000,000

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 10,473	$ 10,624
Less: Accumulated depreciation	(5,115)	(4,384)
Property, plant and equipment, less accumulated depreciation	5,358	6,240	$ 6,228
Depreciation on property, plant and equipment	1,009	1,053	$ 1,031
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	404	430
Buildings, structures and related equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,618	2,870
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,451	$ 7,324
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

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Balance at December 31, 2018, gross			$ 24,471
Accumulated impairment at December 31, 2018			(3,754)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 20,690	$ 20,717
Goodwill impairment	(14,773)	0	0
Currency exchange and others	60	(27)
Goodwill, net, ending balance	5,977	20,690	20,717
Oilfield Services
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Balance at December 31, 2018, gross			15,676
Accumulated impairment at December 31, 2018			(2,633)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	13,043	13,043
Goodwill impairment	(11,484)
Currency exchange and others	(20)	0
Goodwill, net, ending balance	1,539	13,043	13,043
Oilfield Equipment
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Balance at December 31, 2018, gross			4,177
Accumulated impairment at December 31, 2018			(867)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	3,319	3,310
Goodwill impairment	(3,289)
Currency exchange and others	(24)	9
Goodwill, net, ending balance	6	3,319	3,310
Turbo-machinery & Process Solutions
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Balance at December 31, 2018, gross			2,186
Accumulated impairment at December 31, 2018			0
Goodwill [Roll Forward]
Goodwill, net, beginning balance	2,171	2,186
Goodwill impairment	0
Currency exchange and others	63	(15)
Goodwill, net, ending balance	2,234	2,171	2,186
Digital Solutions
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Balance at December 31, 2018, gross			2,432
Accumulated impairment at December 31, 2018			(254)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	2,157	2,178
Goodwill impairment	0
Currency exchange and others	41	(21)
Goodwill, net, ending balance	$ 2,198	$ 2,157	$ 2,178

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) $ / shares in Units, $ in Millions	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)segment$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 23, 2020$ / shares
Goodwill and Intangible Assets Disclosure [Abstract]
Number of operating segments | segment		4
Share price (in dollars per share) | $ / shares		$ 20.85			$ 9.33
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment		$ 14,773	$ 0	$ 0
Amortization expense for intangible assets		$ 308	$ 365	$ 455
Number of reportable segments | segment		4
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)		30 years
Oilfield Services
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 11,484
Oilfield Equipment
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 3,289

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets by Type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	$ 5,008	$ 5,994
Finite-lived intangible assets, accumulated amortization	(2,834)	(2,855)
Finite-lived intangible assets, net	2,174	3,139
Indefinite-lived intangible assets	2,223	2,242
Intangible assets, gross	7,231	8,236
Other intangible assets, net	4,397	5,381
Intangible assets impairment	729	0	$ 0
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	2,261	3,027
Finite-lived intangible assets, accumulated amortization	(916)	(1,045)
Finite-lived intangible assets, net	1,345	1,982
Intangible assets impairment	481
Technology
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	1,127	1,075
Finite-lived intangible assets, accumulated amortization	(696)	(626)
Finite-lived intangible assets, net	431	449
Intangible assets impairment	8
Trade names and trademarks
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	326	696
Finite-lived intangible assets, accumulated amortization	(181)	(254)
Finite-lived intangible assets, net	145	442
Intangible assets impairment	237
Capitalized software
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	1,294	1,193
Finite-lived intangible assets, accumulated amortization	(1,041)	(928)
Finite-lived intangible assets, net	253	265
Intangible assets impairment	3
Other
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, gross	0	3
Finite-lived intangible assets, accumulated amortization	0	(2)
Finite-lived intangible assets, net	$ 0	$ 1

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Future Estimated Amortization Expense (Details) $ in Millions	Dec. 31, 2020USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	$ 255
2022	214
2023	200
2024	182
2025	$ 142

Contract and Other Deferred A_3

Contract and Other Deferred Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	$ 1,820	$ 1,700
Deferred inventory costs	138	130
Non-recurring engineering costs	43	51
Contract and other deferred assets	2,001	1,881
Revenue recognized from performance obligations satisfied in previous periods	17	(1)
Long-term product service agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	660	603
Long-term equipment contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets (total revenue in excess of billings)	$ 1,160	$ 1,097

Progress Collections and Defe_3

Progress Collections and Deferred Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 3,454	$ 2,870
Revenue recognized, included in contract liability	1,962	1,239
Progress collections
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	3,352	2,760
Deferred income
Disaggregation of Revenue [Line Items]
Progress collections and deferred income (contract liabilities)	$ 102	$ 110

Leases - Operating Lease Expens

Leases - Operating Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Long-term fixed lease	$ 288	$ 233
Long-term variable lease	25	48
Short-term lease	477	706
Total operating lease expense	$ 790	$ 987

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating leases	$ 783
Operating lease assets		$ 802	$ 829
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Operating lease, weighted-average remaining lease term		8 years	8 years
Operating lease, weighted-average discount rate		3.70%	4.10%

Leases - Operating Lease Liabil

Leases - Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 235
2022	172
2023	114
2024	78
2025	60
Thereafter	313
Total lease payments	972
Less: imputed interest	163
Total	$ 809	$ 842

Leases - Lease Liabilities Stat

Leases - Lease Liabilities Statement of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
All other current liabilities	$ 218	$ 201
All other liabilities	591	641
Total	$ 809	$ 842
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Borrowings - Short-term and lon

Borrowings - Short-term and long-term borrowings (Details) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted average rate		3.00%	3.40%
Short-term borrowings
Short-term debt and current portion of long-term debt	[1]	$ 889	$ 321
Long-term borrowings
Other long-term borrowings		93	136
Total long-term borrowings		6,744	6,301
Total debt		$ 7,633	$ 6,622
Senior Notes | 2.773% Senior Notes due December 2022
Debt Instrument [Line Items]
Stated interest rate		2.773%
Weighted average rate		2.90%	2.90%
Long-term borrowings
Long-term borrowings		$ 1,247	$ 1,246
Senior Notes | 3.337% Senior Notes due December 2027
Debt Instrument [Line Items]
Stated interest rate		3.337%
Weighted average rate		3.40%	3.40%
Long-term borrowings
Long-term borrowings		$ 1,344	$ 1,343
Senior Notes | 6.875% Notes due January 2029
Debt Instrument [Line Items]
Stated interest rate		6.875%
Weighted average rate		3.90%	3.90%
Long-term borrowings
Long-term borrowings		$ 284	$ 289
Senior Notes | 3.138% Senior Notes due November 2029
Debt Instrument [Line Items]
Stated interest rate		3.138%
Weighted average rate		3.20%	3.20%
Long-term borrowings
Long-term borrowings		$ 522	$ 522
Senior Notes | 4.486% Senior Notes due May 2030
Debt Instrument [Line Items]
Stated interest rate		4.486%
Weighted average rate		4.60%
Long-term borrowings
Long-term borrowings		$ 497	$ 0
Senior Notes | 5.125% Notes due September 2040
Debt Instrument [Line Items]
Stated interest rate		5.125%
Weighted average rate		4.20%	4.20%
Long-term borrowings
Long-term borrowings		$ 1,297	$ 1,301
Senior Notes | 4.080% Senior Notes due December 2047
Debt Instrument [Line Items]
Stated interest rate		4.08%
Weighted average rate		4.10%	4.10%
Long-term borrowings
Long-term borrowings		$ 1,337	$ 1,337
Debentures | 8.55% Debentures due June 2024
Debt Instrument [Line Items]
Stated interest rate		8.55%
Weighted average rate		4.10%	4.10%
Long-term borrowings
Long-term borrowings		$ 123	$ 127
Commercial paper
Debt Instrument [Line Items]
Weighted average rate		0.50%
Short-term borrowings
Short-term debt and current portion of long-term debt		$ 801	0
Short-term borrowings from GE
Short-term borrowings
Short-term debt and current portion of long-term debt		$ 45	$ 273
Other borrowings
Debt Instrument [Line Items]
Weighted average rate		4.20%	4.80%
Short-term borrowings
Short-term debt and current portion of long-term debt		$ 43	$ 48
[1]	Total assets include $45 million and $273 million of assets held on behalf of GE, of which $44 million and $162 million is cash and cash equivalents and $1 million and $111 million is investment securities at December 31, 2020 and 2019, respectively, and a corresponding amount of liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details.

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)	Jul. 03, 2017	Nov. 30, 2019	Dec. 31, 2020	Jun. 30, 2020	May 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Estimated fair value of debt			$ 8,502,000,000			$ 6,847,000,000
Commercial paper
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 3,800,000,000	$ 3,000,000,000
Debt instrument term			397 days
BHH LLC | Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Ownership percentage			100.00%
BHH LLC | 2019 Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity						3,000,000,000
Line of credit outstanding			$ 0			0
BHH LLC | 2017 Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, term	5 years
Line of credit outstanding			$ 0			0
Senior Notes | 4.486% Senior Notes due May 2030
Line of Credit Facility [Line Items]
Stated interest rate			4.486%
Long-term borrowings			$ 497,000,000			0
Senior Notes | 3.138% Senior Notes due November 2029
Line of Credit Facility [Line Items]
Stated interest rate			3.138%
Long-term borrowings			$ 522,000,000			$ 522,000,000
Senior Notes | 3.2% Senior Notes due August 2021
Line of Credit Facility [Line Items]
Stated interest rate		3.20%
Repayments of senior debt		$ 526,000,000
Gain (loss) on repurchase of debt instrument		7,000,000
Senior Notes | BHH LLC | Baker Hughes Co-Obligor, Inc.
Line of Credit Facility [Line Items]
Long-term borrowings			$ 6,650,000,000
Senior Notes | BHH LLC | 4.486% Senior Notes due May 2030
Line of Credit Facility [Line Items]
Debt instrument, principal					$ 500,000,000
Stated interest rate					4.486%
Senior Notes | BHH LLC | 3.138% Senior Notes due November 2029
Line of Credit Facility [Line Items]
Debt instrument, principal		$ 525,000,000
Stated interest rate		3.138%

Borrowings - Maturities of Debt

Borrowings - Maturities of Debt Schedule (Details) $ in Millions	Dec. 31, 2020USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	$ 889
2022	1,254
2023	4
2024	173
2025	19
Thereafter	$ 5,294

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)plan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Health care cost trend rate assumed next fiscal year	6.50%
Health care cost trend rate	4.50%
Multiemployer plan, contributions by employer	$ 0	$ 3,000,000	$ 158,000,000
Defined contribution plan, employer matching contribution per dollar	$ 1
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	$ 236,000,000	235,000,000
Number of non-qualified defined contribution plans | plan	2
Defined contribution plan, assets and liabilities	$ 314,000,000	276,000,000
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	$ 3,072,000,000	$ 2,988,000,000
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	21.00%	20.00%
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	59.00%	62.00%
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	20.00%	18.00%
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
Fair values of the plan assets	3,202,000,000	$ 3,004,000,000	1,866,000,000
Actual return on plan assets	347,000,000	314,000,000
Employer contributions	20,000,000	23,000,000
Pension plan | Minimum
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 | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated future employer contributions in next fiscal year	35,000,000
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	1,807,000,000	1,858,000,000
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	130,000,000	16,000,000
Pension plan | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	120,000,000	0
Plan assets level 3 reconciliation increase for purchase	124,000,000
Actual return on plan assets	4,000,000
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair values of the plan assets	0	0	$ 0
Actual return on plan assets	0	0
Employer contributions	19,000,000	$ 16,000,000
Estimated future employer contributions in next fiscal year	$ 10,000,000
U.S. | Pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans | plan	4
Foreign | Pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans | plan	7

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	$ 3,451	$ 2,261
Service cost	27	21	$ 21
Interest cost	77	90	71
Plan amendment	1	0
Actuarial loss (gain)	393	301
Benefits paid	(101)	(102)
Curtailments	(3)	(21)
Settlements	(79)	(36)
Transfer from GE - UK Plan	0	837
Other	0	15
Foreign currency translation adjustments	40	85
Benefit obligation at end of year	3,806	3,451	2,261
Change in plan assets:
Fair value of plan assets at beginning of year	3,004	1,866
Actual return on plan assets	347	314
Employer contributions	20	23
Benefits paid	(101)	(102)
Settlements	(79)	(36)
Transfer from GE - UK Plan	0	851
Foreign currency translation adjustments	11	88
Fair value of plan assets at end of year	3,202	3,004	1,866
Funded status - underfunded at end of year	(604)	(447)
Accumulated benefit obligation	3,755	3,401
Other Postretirement Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	80	107
Service cost	0	1	2
Interest cost	2	4	5
Plan amendment	(18)	0
Actuarial loss (gain)	17	(16)
Benefits paid	(19)	(16)
Curtailments	0	0
Settlements	0	0
Transfer from GE - UK Plan	0	0
Other	0	0
Foreign currency translation adjustments	0	0
Benefit obligation at end of year	62	80	107
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	19	16
Benefits paid	(19)	(16)
Settlements	0	0
Transfer from GE - UK Plan	0	0
Foreign currency translation adjustments	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status - underfunded at end of year	(62)	(80)
Accumulated benefit obligation	$ 62	$ 80

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Amounts Recognized in the Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure
Noncurrent liabilities	$ (1,217)	$ (1,079)
Pension Benefits
Defined Benefit Plan Disclosure
Noncurrent assets	14	78
Current liabilities	(18)	(17)
Noncurrent liabilities	(600)	(508)
Net amount recognized	(604)	(447)
Other Postretirement Benefits
Defined Benefit Plan Disclosure
Noncurrent assets	0	0
Current liabilities	(9)	(11)
Noncurrent liabilities	(53)	(69)
Net amount recognized	$ (62)	$ (80)

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of Information for Plans with ABOs in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Projected benefit obligation	$ 3,390	$ 1,814
Accumulated benefit obligation	3,340	1,763
Fair value of plan assets	2,772	1,288
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation	$ 62	$ 80

Employee Benefit Plans - Sche_4

Employee Benefit Plans - Schedule of Information for Plans with PBOs in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Projected benefit obligation	$ 3,390	$ 1,814
Accumulated benefit obligation	3,340	1,763
Fair value of plan assets	2,772	1,288
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation	$ 62	$ 80

Employee Benefit Plans - Sche_5

Employee Benefit Plans - Schedule of Components of Net Periodic Cost (Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 27	$ 21	$ 21
Interest cost	77	90	71
Expected return on plan assets	(121)	(122)	(121)
Amortization of prior service credit	1	1	0
Amortization of net actuarial loss (gain)	34	17	10
Curtailment / settlement loss (gain)	10	9	2
Net periodic cost (income)	28	16	(17)
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	1	2
Interest cost	2	4	5
Expected return on plan assets	0	0	0
Amortization of prior service credit	(3)	(3)	(5)
Amortization of net actuarial loss (gain)	(3)	(7)	(2)
Curtailment / settlement loss (gain)	0	0	(5)
Net periodic cost (income)	$ (4)	$ (5)	$ (5)

Employee Benefit Plans - Sche_6

Employee Benefit Plans - Schedule of Assumptions Used for Benefit Obligation (Details)	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	1.66%	2.34%
Rate of compensation increase	3.25%	3.11%
Interest crediting rate	2.60%	2.60%
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	1.67%	2.89%

Employee Benefit Plans - Sche_7

Employee Benefit Plans - Schedule of Assumptions Used for Net Periodic Cost (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	2.34%	3.43%	2.99%
Expected long-term return on plan assets	4.20%	5.48%	5.94%
Interest crediting rate	2.60%	3.15%	2.60%
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	2.35%	3.92%	3.32%

Employee Benefit Plans - Sche_8

Employee Benefit Plans - Schedule of Reconciliation to Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial loss (gain)	$ 527	$ 395
Net prior service cost (credit)	18	19
Total	545	414
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial loss (gain)	(30)	(38)
Net prior service cost (credit)	(17)	(15)
Total	$ (47)	$ (53)

Employee Benefit Plans - Sche_9

Employee Benefit Plans - Schedule Fair Value of the Pension Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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	$ 3,202	$ 3,004	$ 1,866
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	1,807	1,858
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	346	333
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	299	258
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	120	0
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	85	84
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	52	51
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	$ 493	$ 420

Employee Benefit Plans - Sch_10

Employee Benefit Plans - Schedule of Future Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension Benefits
Defined Benefit Plan Disclosure
2021	$ 173
2022	131
2023	130
2024	135
2025	136
2026-2030	743
Other Postretirement Benefits
Defined Benefit Plan Disclosure
2021	10
2022	7
2023	6
2024	5
2025	5
2026-2030	$ 18

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)country	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Total Gross Unrecognized Tax Benefits
Tax Cuts and Jobs Act, income tax benefit	$ 117
Operating loss carryforwards	2,249	$ 1,654
Valuation allowances	3,472	2,883
Deferred tax assets, operating loss carryforwards, foreign	319
Deferred tax liability not provided for temporary difference	6,000
Tax liabilities for gross unrecognized tax benefits	(483)	$ (451)	$ (472)
Interest accrued on income taxes for unrecognized tax benefits	95
Penalties accrued on income taxes for unrecognized tax benefits	23
Uncertain tax positions	601
Unrecognized tax benefits that would impact effective tax rate	523
Deferred tax asset that we did not prevail on all uncertain tax position	77
Deferred tax asset that we did not prevail on all uncertain tax position, foreign taxing jurisdiction	53
Deferred tax asset that we did not prevail on all uncertain tax position, increased valuation allowances	24
Uncertain tax positions, liabilities	$ 57
Number of countries in which entity operates (more than) | country	120
Foreign Net Operating Loss
Total Gross Unrecognized Tax Benefits
Valuation allowances	$ 1,657
US And Foreign Tax Credit Carryforward
Total Gross Unrecognized Tax Benefits
Valuation allowances	924
Other United States Net Operating Loss Tax Credit Carryforward
Total Gross Unrecognized Tax Benefits
Valuation allowances	452
Other US And Foreign Deferred Tax Assets
Total Gross Unrecognized Tax Benefits
Valuation allowances	439
Five year carryforward
Total Gross Unrecognized Tax Benefits
Operating loss carryforwards	$ 347
Expiration of operation loss carryforwards over the next 5 years	5 years
Six to twenty year carryforward
Total Gross Unrecognized Tax Benefits
Operating loss carryforwards	$ 960
Six to twenty year carryforward | Minimum
Total Gross Unrecognized Tax Benefits
Expiration of operation loss carryforwards over the next six to 20 years	6 years
Six to twenty year carryforward | Maximum
Total Gross Unrecognized Tax Benefits
Expiration of operation loss carryforwards over the next six to 20 years	20 years
Indefinite Foreign Tax
Total Gross Unrecognized Tax Benefits
Deferred tax assets, tax credit carryforwards, foreign	$ 402
Definite Foreign Tax
Total Gross Unrecognized Tax Benefits
Deferred tax assets, tax credit carryforwards, foreign	521
Other Tax
Total Gross Unrecognized Tax Benefits
Deferred tax assets, tax credit carryforwards	$ 160

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
U.S.	$ (59)	$ (12)	$ 63
Foreign	458	443	444
Total current	399	431	507
Deferred:
U.S.	11	(12)	(211)
Foreign	149	63	(38)
Total deferred	160	51	(249)
Provision for income taxes	$ 559	$ 482	$ 258

Income Taxes - Schedule of Geog

Income Taxes - Schedule of Geographic Sources of Income before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S.	$ (14,288)	$ (693)	$ (672)
Foreign	(914)	1,446	1,213
Income (loss) before income taxes, inclusive of equity in loss of affiliate	$ (15,202)	$ 753	$ 541

Income Taxes - Schedule of Diff

Income Taxes - Schedule of Difference between Provision and U.S. Statutory Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income (loss) before income taxes, inclusive of equity in loss of affiliate	$ (15,202)	$ 753	$ 541
Taxes at the U.S. federal statutory income tax rate	(3,192)	158	114
Impact of goodwill impairment	3,102	0	0
Effect of foreign operations	183	85	103
Tax impact of partnership structure	(33)	17	80
Change in valuation allowances	494	241	87
CARES Act	(117)	0	0
Tax Cuts and Jobs Act enactment	0	0	(107)
Other - net	122	(19)	(19)
Provision for income taxes	$ 559	$ 482	$ 258
Actual income tax rate	(3.70%)	64.00%	47.70%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Operating loss carryforwards	$ 2,249	$ 1,654
Tax credit carryforwards	1,083	941
Investment in partnership	160	381
Goodwill and other intangibles	143	117
Employee benefits	138	98
Property	127	137
Receivables	53	79
Inventory	51	91
Other	264	317
Total deferred income tax asset	4,268	3,815
Valuation allowances	(3,472)	(2,883)
Total deferred income tax asset after valuation allowance	796	932
Deferred tax liabilities:
Other	(29)	(29)
Total deferred income tax liability	(29)	(29)
Net deferred tax asset	$ 767	$ 903

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ (451)	$ (472)
Additions for tax positions of the current year	(71)	(25)
Additions for tax positions of prior years	(31)	(27)
Reductions for tax positions of prior years	35	55
Settlements with tax authorities	12	6
Lapse of statute of limitations	23	12
Balance at end of year	$ (483)	$ (451)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 23, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 210,000,000	$ 187,000,000	$ 121,000,000
Tax benefit of stock-based compensation cost	19,000,000
Unrecognized compensation cost, unvested	$ 4,000,000
Vesting period	3 years
Expected volatility term	6 years	6 years	6 years
Options outstanding, weighted average remaining contractual term	4 years 3 months 18 days
Options exercisable, weighted average remaining contractual term	3 years 6 months
Options vested (in shares)	1,553,000	867,000	505,000
Fair value of options vested	$ 14,000,000	$ 10,000,000	$ 6,000,000
Share price (in dollars per share)	$ 20.85			$ 9.33
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award of common stock, right to receive (in shares)	1
Intrinsic value, vested	$ 111,000,000
Intrinsic value, outstanding	298,000,000
Fair value options vested in period	147,000,000
Unrecognized compensation cost, unvested	$ 184,000,000
Unvested, weighted average period	1 year 9 months 10 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, service period	3 years
Intrinsic value, vested	$ 66,000,000
Unrecognized compensation cost, unvested	$ 29,000,000
Unvested, weighted average period	2 years 2 months 23 days
PSUs | Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, service period	1 year
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, weighted average period	1 year
Options outstanding, maximum weighted average contractual term	8 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
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 | 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)	15,000,000
Common stock reserved for future issuance (in shares)	8,500,000
Class A | Employee Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
After-tax basis	1.00%
Class A | Employee Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
After-tax basis	20.00%
Long-Term Inventive Plan (LTI Plan) | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	57,400,000
Number of shares available for issuance (in shares)	26,100,000

Stock-Based Compensation - RSUs

Stock-Based Compensation - RSUs (Details) - RSUs shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Units
Outstanding, beginning balance (in shares) | shares	11,285
Granted (in shares) | shares	9,301
Vested (in shares) | shares	(5,066)
Forfeited (in shares) | shares	(1,228)
Outstanding, ending balance (in shares) | shares	14,292
Weighted Average Grant Date Fair Value Per Unit
Unvested, beginning balance (in dollars per share) | $ / shares	$ 27.26
Granted (in dollars per share) | $ / shares	22.33
Vested (in dollars per share) | $ / shares	29.02
Forfeited (in dollars per share) | $ / shares	24.18
Unvested, ending balance (in dollars per share) | $ / shares	$ 23.70

Stock-Based Compensation - PSU

Stock-Based Compensation - PSU (Details) - PSUs shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) | shares	2,044
Granted (in shares) | shares	1,418
Forfeited (in shares) | shares	(301)
Outstanding, ending balance (in shares) | shares	3,161
Weighted Average Grant Date Fair Value Per Unit
Unvested, beginning balance (in dollars per share) | $ / shares	$ 27.91
Granted (in dollars per share) | $ / shares	21.37
Forfeited (in dollars per share) | $ / shares	23.61
Unvested, ending balance (in dollars per share) | $ / shares	$ 25.39

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Expected life (years)	6 years	6 years	6 years
Risk-free interest rate		2.60%	2.50%
Volatility		36.50%	33.70%
Dividend yield		3.10%	2.00%
Weighted average fair value per share at grant date (in dollars per share)		$ 6.37	$ 10.34

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options Outstanding (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Options
Outstanding, beginning balance (in shares) | shares	8,410
Exercised (in shares) | shares	(17)
Forfeited (in shares) | shares	(292)
Expired (in shares) | shares	(816)
Outstanding, ending balance (in shares) | shares	7,285
Weighted Average Exercise Price Per Option
Outstanding, beginning (in dollars per share) | $ / shares	$ 32.50
Exercised (in dollars per share) | $ / shares	21.80
Forfeited (in dollars per share) | $ / shares	25.89
Expired (in dollars per share) | $ / shares	33.90
Outstanding, ending (in dollars per share) | $ / shares	$ 32.63
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable (in shares) | shares	5,882
Options exercisable (in dollars per share) | $ / shares	$ 34.32

Equity - Narrative (Details)

Equity - Narrative (Details) - $ / shares	1 Months Ended	12 Months Ended
	Jul. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Preferred stock authorized (in shares)		50,000,000
Common stock par value (in dollars per share)		$ 0.0001
GE | BHH LLC
Class of Stock [Line Items]
Period of complete divestment	3 years
GE | BHH LLC | GE
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners		30.10%	36.70%
Class A
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)		724,000,000	650,000,000
Dividends (in dollars per share)		$ 0.72	$ 0.72	$ 0.72
Class A | Cash dividend
Class of Stock [Line Items]
Dividends (in dollars per share)		$ 0.72	$ 0.72
Class B
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)		311,000,000	377,000,000
Class B | BHH LLC
Class of Stock [Line Items]
Exchange of Class B common stock for Class A common stock (in shares)		66,000,000

Equity - Changes in Number of S

Equity - Changes in Number of Shares Outstanding (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	1,553,000	867,000	505,000
Issue of shares on exercises of stock options (in shares)	17,000
Payments for repurchase of common stock	$ 0	$ 0	$ 387
Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends (in dollars per share)	$ 0.72	$ 0.72	$ 0.72
Class A | BHGE LLC | GE
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of stock, number of shares issued in transaction (in shares)		132,000,000
Class B | BHGE LLC | GE
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock repurchased (in shares)		12,000,000
Payments for repurchase of common stock		$ 250
Dividends (in dollars per share)		$ 21.07
Common Stock | Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	650,065,000	513,399,000
Issue of shares for employee stock purchase plan	4,378,000	2,081,000
Exchange of Class B common stock for Class A common stock (in shares)	65,995,000	132,250,000
Repurchase and cancellation of Class B common stock (in shares)	0	0
Ending balance (in shares)	723,999,000	650,065,000	513,399,000
Common Stock | Class A | RSUs
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares upon vesting of restricted stock units (in shares)	3,548,000	1,973,000
Common Stock | Class A | Options
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares on exercises of stock options (in shares)	13,000	362,000
Common Stock | Class B
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	377,428,000	521,543,000
Issue of shares for employee stock purchase plan	0	0
Exchange of Class B common stock for Class A common stock (in shares)	(65,995,000)	(132,250,000)
Repurchase and cancellation of Class B common stock (in shares)	0	(11,865,000)
Ending balance (in shares)	311,433,000	377,428,000	521,543,000
Common Stock | Class B | 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 | Options
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issue of shares on exercises of stock options (in shares)	0	0

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 34,499	$ 35,013	$ 38,410
Other comprehensive income (loss) before reclassifications	(10)	(54)
Amounts reclassified from accumulated other comprehensive loss	47	27
Deferred taxes	6	19
Other comprehensive income (loss)	43	(8)	(573)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	0	(1)	(343)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	185	350
Less: Other adjustments		60
Ending balance	18,242	34,499	35,013
Investment Securities, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	1	0
Ending balance	0	1	0
Investment Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(2)	2
Amounts reclassified from accumulated other comprehensive loss	0	0
Deferred taxes	0	0
Other comprehensive income (loss)	(2)	2
Investment Securities, Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(1)	1
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	0	0
Less: Other adjustments		0
Foreign Currency Translation Adjustment, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,436)	(1,152)
Ending balance	(1,464)	(1,436)	(1,152)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	175	53
Amounts reclassified from accumulated other comprehensive loss	0	0
Deferred taxes	0	0
Other comprehensive income (loss)	175	53
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	40	23
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	163	314
Less: Other adjustments		0
Cash Flow Hedges, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	6	(1)
Ending balance	3	6	(1)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(2)	13
Amounts reclassified from accumulated other comprehensive loss	(4)	1
Deferred taxes	1	(2)
Other comprehensive income (loss)	(5)	12
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	(2)	4
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	0	0
Less: Other adjustments		1
Benefit Plans, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(207)	(66)
Ending balance	(317)	(207)	(66)
Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	(181)	(122)
Amounts reclassified from accumulated other comprehensive loss	51	26
Deferred taxes	5	21
Other comprehensive income (loss)	(125)	(75)
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	(37)	(29)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units	22	36
Less: Other adjustments		59
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,636)	(1,219)	(703)
Other comprehensive income (loss)	43	(7)	(230)
Ending balance	$ (1,778)	$ (1,636)	$ (1,219)

Equity - Non-Controlling Intere

Equity - Non-Controlling Interest (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Line Items]
GE's interest in BHH LLC	$ 5,349	$ 12,570
Total equity	18,242	34,499	$ 35,013	$ 38,410
GE
Noncontrolling Interest [Line Items]
GE's interest in BHH LLC	5,216	12,454
Other noncontrolling interests	133	116
Total equity	$ 5,349	$ 12,570

Earnings Per Share - Basic and

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share
Net income (loss)	$ (15,761)	$ 271	$ 283
Less: Net income (loss) attributable to noncontrolling interests	(5,821)	143	88
Net income (loss) attributable to Baker Hughes Company	$ (9,940)	$ 128	$ 195
Net income (loss) per share attributable to common stockholders:
Class A basic (in dollars per share)	$ (14.73)	$ 0.23	$ 0.46
Class A diluted (in dollars per share)	$ (14.73)	$ 0.23	$ 0.45
Class A
Weighted average shares outstanding:
Class A basic (in shares)	675	555	427
Class A diluted (in shares)	675	557	429
Net income (loss) per share attributable to common stockholders:
Class A basic (in dollars per share)	$ (14.73)	$ 0.23	$ 0.46
Class A diluted (in dollars per share)	$ (14.73)	$ 0.23	$ 0.45

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) shares in Millions	12 Months Ended
	Dec. 31, 2020shares	Dec. 31, 2019shares	Dec. 31, 2018shares
Common Class A and B
Class of Stock [Line Items]
Basic weighted average shares outstanding (in shares)	1,034	1,034	1,100
Class A
Class of Stock [Line Items]
Basic weighted average shares outstanding (in shares)	675	555	427
Conversion ratio	1
Class A | Options
Class of Stock [Line Items]
Antidilutive securities excluded from diluted EPS calculation (in options)		6	4

Financial Instruments - Recurri

Financial Instruments - Recurring fair value measurements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Derivatives	$ 118	$ 58
Investment securities	1,532	283
Liabilities
Derivatives	(52)	(27)
Fair value, measurements, recurring
Assets
Derivatives	118	58
Investment securities	1,532	283
Assets, fair value	1,650	341
Liabilities
Derivatives	(52)	(27)
Total liabilities	(52)	(27)
Fair value, measurements, recurring | Level 1
Assets
Derivatives	0	0
Investment securities	1,502	24
Assets, fair value	1,502	24
Liabilities
Derivatives	0	0
Total liabilities	0	0
Fair value, measurements, recurring | Level 2
Assets
Derivatives	118	58
Investment securities	0	0
Assets, fair value	118	58
Liabilities
Derivatives	(52)	(27)
Total liabilities	(52)	(27)
Fair value, measurements, recurring | Level 3
Assets
Derivatives	0	0
Investment securities	30	259
Assets, fair value	30	259
Liabilities
Derivatives	0	0
Total liabilities	$ 0	$ 0

Financial Instruments - Reconci

Financial Instruments - Reconciliation of recurring Level 3 fair value measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 259	$ 288
Purchases	12	7
Proceeds at maturity	(239)	(38)
Unrealized gains (losses) recognized in accumulated other comprehensive income (loss)	(2)	2
Ending balance	$ 30	$ 259

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities held on behalf of GE	$ 1,532,000,000	$ 283,000,000
Investment securities	1,532,000,000	283,000,000
Equity securities, estimated fair value	1,502,000,000	24,000,000
Derivative asset	118,000,000	58,000,000
Derivative liability	52,000,000	27,000,000
Gain (loss) earnings effects of related forecast transactions	5,000,000
Derivative, notional amount	7,000,000,000	5,700,000,000
Equity securities without readily determinable fair values	554,000,000	$ 637,000,000
Equity securities, unrealized gain	$ 19,000,000
Equity method on our investment in BJ Services				$ 0
Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term	1 year	1 year
All other current assets
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities held on behalf of GE	$ 1,514,000,000
Investment securities	1,514,000,000
Equity securities, estimated fair value		$ 254,000,000
Derivative asset	115,000,000	52,000,000
All other assets
Derivative Instruments, Gain (Loss) [Line Items]
Investment securities held on behalf of GE	18,000,000
Investment securities	18,000,000
Equity securities, estimated fair value		29,000,000
Derivative asset	3,000,000	6,000,000
All other current liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	48,000,000	24,000,000
All other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	$ 4,000,000	$ 3,000,000
C3.ai
Derivative Instruments, Gain (Loss) [Line Items]
Approximate interest to be acquired	11.00%
Mark to market unrealized gain	$ 1,417,000,000
C3.ai | Class A
Derivative Instruments, Gain (Loss) [Line Items]
Approximate interest to be acquired	11.00%
Investment shares owned (in shares)	10,813,095
Equity securities economic interest fair value	$ 1,500,000,000
Corporate joint venture | C3.ai
Derivative Instruments, Gain (Loss) [Line Items]
Approximate interest to be acquired			15.00%
Level 3
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on Level 3 instruments held at reporting date	$ 0

Financial Instruments - Investm

Financial Instruments - Investment Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Equity securities, amortized cost	$ 76	$ 17
Equity securities, gross unrealized gain	1,431	8
Equity securities, gross unrealized loss	(5)	(1)
Equity securities, estimated fair value	1,502	24
Total, amortized cost	106	274
Total , gross unrealized gains	1,431	10
Total , gross unrealized losses	(5)	(1)
Total, estimated fair value	1,532	283
Net unrealized gain (loss)	1,400	2	$ (25)
Non-U.S. debt securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, amortized cost	30	257
Debt securities, gross unrealized gains	0	2
Debt securities, gross unrealized losses	0	0
Debt securities, estimated fair value	$ 30	$ 259
Debt securities, term	2 years

Financial Instruments - Derivat

Financial Instruments - Derivatives and hedging (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative asset	$ 118	$ 58
Derivative liability	(52)	(27)
Currency exchange contracts | Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Derivative asset	5	11
Derivative liability	0	0
Currency exchange contracts | Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Derivative asset	113	47
Derivative liability	$ (52)	$ (27)

Financial Instruments - Cash fl

Financial Instruments - Cash flow hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	$ (5)	$ 12
Gain (loss) recognized in AOCI			$ (4)
Cash flow hedging | Currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	(2)	13
Gain (loss) recognized in AOCI			(6)
Gain (loss) reclassified from AOCI to earnings	$ 4	$ (1)
Gain (loss) reclassified from AOCI to earnings			$ (1)

Financial Instruments - Economi

Financial Instruments - Economic Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Embedded derivatives, loss	$ 14	$ 7	$ 3
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	131	(24)	(4)
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	59	(13)	(35)
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	62	(15)	32
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	2	2	(1)
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	$ 8	$ 2	$ 0

Segment Information (Details)

Segment Information (Details)	12 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Information - Operating

Segment Information - Operating Profit (Loss) by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information
Revenues	$ 20,705,000,000	$ 23,838,000,000	$ 22,877,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	(15,202,000,000)	753,000,000	680,000,000
Inventory impairment and related charges	(246,000,000)	0	(105,000,000)
Goodwill impairment	(14,773,000,000)	0	0
Separation and merger related	(134,000,000)	(184,000,000)	(153,000,000)
Other non-operating income (loss), net	1,040,000,000	(84,000,000)	202,000,000
Interest expense, net	(264,000,000)	(237,000,000)	(223,000,000)
Operating segments
Segment Reporting Information
Revenues	20,705,000,000	23,838,000,000	22,877,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	1,504,000,000	2,035,000,000	1,796,000,000
Corporate
Segment income (loss) before income taxes
Income (loss) before income taxes	(464,000,000)	(433,000,000)	(405,000,000)
Segment reconciling items
Segment income (loss) before income taxes
Inventory impairment and related charges	(246,000,000)	0	(105,000,000)
Goodwill impairment	(14,773,000,000)	0	0
Restructuring, impairment and other	(1,866,000,000)	(342,000,000)	(433,000,000)
Separation and merger related	(134,000,000)	(184,000,000)	(153,000,000)
Other non-operating income (loss), net	1,040,000,000	(84,000,000)	202,000,000
Interest expense, net	(264,000,000)	(237,000,000)	(223,000,000)
Oilfield Services
Segment income (loss) before income taxes
Goodwill impairment	(11,484,000,000)
Oilfield Services | Operating segments
Segment Reporting Information
Revenues	10,140,000,000	12,889,000,000	11,617,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	487,000,000	917,000,000	785,000,000
Oilfield Equipment
Segment income (loss) before income taxes
Goodwill impairment	(3,289,000,000)
Oilfield Equipment | Operating segments
Segment Reporting Information
Revenues	2,844,000,000	2,921,000,000	2,641,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	19,000,000	55,000,000	0
Turbo-machinery & Process Solutions
Segment income (loss) before income taxes
Goodwill impairment	0
Turbo-machinery & Process Solutions | Operating segments
Segment Reporting Information
Revenues	5,705,000,000	5,536,000,000	6,015,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	805,000,000	719,000,000	621,000,000
Digital Solutions
Segment income (loss) before income taxes
Goodwill impairment	0
Digital Solutions | Operating segments
Segment Reporting Information
Revenues	2,015,000,000	2,492,000,000	2,604,000,000
Segment income (loss) before income taxes
Income (loss) before income taxes	$ 193,000,000	$ 343,000,000	$ 390,000,000

Segment Information - Assets by

Segment Information - Assets by Segment (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets	[1]	$ 38,007	$ 53,369
Segment depreciation and amortization		1,317	1,418	$ 1,486
Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		31,725	50,604
Segment depreciation and amortization		1,288	1,379	1,444
Operating segments | Oilfield Services
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		15,482	30,611
Segment depreciation and amortization		926	985	1,003
Operating segments | Oilfield Equipment
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		3,344	7,645
Segment depreciation and amortization		146	175	173
Operating segments | Turbo-machinery & Process Solutions
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		8,951	8,365
Segment depreciation and amortization		118	116	156
Operating segments | Digital Solutions
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		3,948	3,983
Segment depreciation and amortization		98	103	112
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets		6,282	2,765
Segment depreciation and amortization		$ 29	$ 39	$ 42
[1]	Total assets include $45 million and $273 million of assets held on behalf of GE, of which $44 million and $162 million is cash and cash equivalents and $1 million and $111 million is investment securities at December 31, 2020 and 2019, respectively, and a corresponding amount of liability is reported in short-term borrowings. See "Note 18. Related Party Transactions" for further details.

Segment Information - Schedule

Segment Information - Schedule of Net Property, Plant and Equipment by Geographic Location (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from geographic segments
Property, plant and equipment - net	$ 5,358	$ 6,240	$ 6,228
U.S.
Revenue from geographic segments
Property, plant and equipment - net	2,007	2,594	2,654
Non-U.S.
Revenue from geographic segments
Property, plant and equipment - net	$ 3,351	$ 3,646	$ 3,574

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Millions	Sep. 16, 2016person	Jun. 30, 2020USD ($)	Jun. 30, 2019	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 15, 2016
Related Party Transaction [Line Items]
Current receivables					$ 5,995	$ 6,739
Related parties
Related Party Transaction [Line Items]
Current receivables					429	495
Joint venture, GE aero-derivative gas turbine products and services | GE
Related Party Transaction [Line Items]
Voting power of outstanding common stock	20.00%
Purchases, GE and its affiliates | GE, majority shareholder
Related Party Transaction [Line Items]
Related party purchases					1,446	1,498	$ 1,791
Sales of products and services, GE and its affiliates | GE, majority shareholder
Related Party Transaction [Line Items]
Revenue from related parties					216	337	$ 363
Accounts Payable, GE and its affiliates
Related Party Transaction [Line Items]
Accounts payable, related party					356	536
Related party amount, due to related party | GE
Related Party Transaction [Line Items]
Cash held on behalf of GE					45	$ 273
Cash					44
Investment securities					$ 1
Corporate joint venture | GE
Related Party Transaction [Line Items]
Board of directors nomination, upon triggering event | person	1
C3.ai
Related Party Transaction [Line Items]
Approximate interest to be acquired					11.00%
C3.ai | Corporate joint venture
Related Party Transaction [Line Items]
Approximate interest to be acquired			15.00%
Subscription term		5 years	3 years
Purchase commitment, to be paid, year one		$ 53		$ 53
Purchase commitment, to be paid, year two		75		75
Purchase commitment, to be paid, year three		125		125
Purchase commitment, to be paid, year four		$ 150		150
Subscription fee				$ 28
GE | Baker Hughes Incorporated | GE, majority shareholder
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners								50.30%
GE | Baker Hughes Incorporated | GE
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	36.80%
GE | BHH LLC | GE
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners					30.10%	36.70%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions	May 29, 2020USD ($)	Mar. 03, 2020USD ($)	Mar. 15, 2019USD ($)	Mar. 11, 2019EUR (€)	Mar. 18, 2018USD ($)	Aug. 03, 2016EUR (€)	Jan. 31, 2013	Dec. 31, 2020EUR (€)companysubsidiary	Dec. 31, 2020USD ($)	Mar. 18, 2019USD ($)
Loss Contingencies [Line Items]
Environmental loss contingencies									$ 1
Total, off-balance sheet liability									4,100
Purchase obligations, within next twelve months									838
Purchase obligations, year two									86
Purchase obligations, year three									37
Purchase obligations, year four									8
Purchase obligations, year five									5
Purchase obligations, thereafter									$ 18
Equipment failure | Pending litigation | Natural gas storage system in northern germany
Loss Contingencies [Line Items]
Damages sought | €				€ 142		€ 202
Marginal rate on annual prime rate (percent)				5.00%		5.00%
Damage from fire | Pending litigation | INOES and Naphtachimie
Loss Contingencies [Line Items]
Damages sought | €								€ 250
Plant shutdown days							15 days
Subsidiaries participating | subsidiary								2
Other companies participating | company								17
Lost profits and various costs | Pending litigation | International Engineering & Construction S.A. (IEC)
Loss Contingencies [Line Items]
Damages sought	$ 235	$ 244.9	$ 591
Loss of cash flow | Pending litigation | International Engineering & Construction S.A. (IEC)
Loss Contingencies [Line Items]
Damages sought		700
Liquidated damages | Pending litigation | International Engineering & Construction S.A. (IEC)
Loss Contingencies [Line Items]
Damages sought		4.8
Take-or-pay future obligations | Pending litigation | International Engineering & Construction S.A. (IEC)
Loss Contingencies [Line Items]
Damages sought		$ 58.6
Legal fees | Pending litigation | International Engineering & Construction S.A. (IEC)
Loss Contingencies [Line Items]
Damages sought	$ 14.2
Breach of fiduciary duties | Pending litigation | 2018 Transactions
Loss Contingencies [Line Items]
Repurchase of stock from GE										$ 1,500
GE sale of stock					$ 2,500

Restructuring, Impairment and_3

Restructuring, Impairment and Other - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Approved restructuring plan				$ 1,800,000,000
Restructuring, impairment and other	$ 1,866,000,000	$ 342,000,000	$ 433,000,000
Inventory impairment	246,000,000	0	105,000,000
Restructuring charges	903,000,000	314,000,000	304,000,000
Intangible assets impairment	729,000,000	0	0
Property, plant and equipment impairment	461,000,000	107,000,000	80,000,000
Litigation and impairment of equity method investment	73,000,000
Corporate facility rationalization	61,000,000
Amortization expense for intangible assets included in net income	308,000,000	365,000,000	455,000,000
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	14,000,000	22,000,000	31,000,000
Trade names and trademarks
Restructuring Cost and Reserve [Line Items]
Amortization expense for intangible assets included in net income		80,000,000
Oilfield Services
Restructuring Cost and Reserve [Line Items]
Intangible assets impairment	605,000,000
Oilfield Services | Operating segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	675,000,000	211,000,000	160,000,000
Oilfield Equipment
Restructuring Cost and Reserve [Line Items]
Intangible assets impairment	124,000,000
Other long-lived asset impairments	216,000,000
Property, plant and equipment impairment	77,000,000
Other assets	15,000,000
Oilfield Equipment | Operating segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	125,000,000	18,000,000	25,000,000
Restructuring, impairment and other
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges and foreign currency translation gain (loss), realized	$ 963,000,000	28,000,000	$ 129,000,000
Restructuring, impairment and other | Corporate
Restructuring Cost and Reserve [Line Items]
Legal fees		25,000,000
Restructuring, impairment and other | Turbomachinery and Process Solutions and Oilfield Services | Operating segments
Restructuring Cost and Reserve [Line Items]
Business exit costs		$ 13,000,000

Restructuring, Impairment and_4

Restructuring, Impairment and Other - Schedule of Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 903	$ 314	$ 304
Property, plant & equipment, net
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	385	107	80
Employee-related termination expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	464	179	123
Asset relocation costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	15	4	28
Contract termination fees
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	23	12	44
Other incremental costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	16	12	29
Operating segments | Oilfield Services
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	675	211	160
Operating segments | Oilfield Equipment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	125	18	25
Operating segments | Turbo-machinery & Process Solutions
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	35	48	71
Operating segments | Digital Solutions
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	54	15	17
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 14	$ 22	$ 31

Business Dispositions - Narrati

Business Dispositions - Narrative (Details) - Disposal group, disposed of by sale, not discontinued operations - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2020	Jun. 30, 2020	Jul. 31, 2019	Oct. 31, 2018
Surface Pressure Control Flow (SPC Flow)
Business Acquisition [Line Items]
Other non operating income (loss)	$ 137
Rod Lift Systems (RLS)
Business Acquisition [Line Items]
Other non operating income (loss)		$ 216
Recip
Business Acquisition [Line Items]
Other non operating income (loss)			$ 138
Natural Gas Solutions (NGS)
Business Acquisition [Line Items]
Other non operating income (loss)				$ 171

Supplementary Information - Oth

Supplementary Information - Other Current Liabilities and Product Warranties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Other current liabilities, employee related	$ 910	$ 1,121
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranties, beginning balance	220	236
Provisions	6	4
Expenditures	(11)	(14)
Other	1	(6)
Product warranties, ending balance	$ 216	$ 220

Supplementary Information - All

Supplementary Information - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts
Balance at beginning of year	$ 373	$ 323	$ 327
Provision	66	48
Write-offs & other	(16)	(52)
Balance at end of year	$ 373	$ 323

Supplementary Information -Supp

Supplementary Information -Supplemental cash flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Guarantees and Product Warranties [Abstract]
Income taxes paid, net of refunds	$ 441	$ 438	$ 424
Interest paid	$ 289	$ 285	$ 301