v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay versus Performance
In this section, we are including the required disclosure for pay versus performance as defined by the SEC for our principal executive officer (“PEO”) and
Non-
PEO
NEOs and Company performance for the fiscal years listed below.
 
                                
Value of Initial Fixed
$100 Investment
Based On:
 (3)
 
                
Year
(1)
   
Summary
Compensation
Table Total
PEO
     
Compensation
Actually Paid to
PEO
(2)
     
Average Summary
Compensation
Table Total for Non-
PEO NEOs
     
Average
Compensation
Actually Paid to
Non-PEO NEOs
 (2)
     
Baker
Hughes
TSR
     
OSX Index
TSR
     
Net
Income
(Loss)
$MM
     
Adjusted
EBITDA 
(4)

$MM
  
2025
   
 
$21,363,825
 
   
 
$33,415,063
 
   
 
$4,933,143
 
   
 
$2,459,788
 
   
 
$248
 
   
 
$165
 
   
$
2,588
 
   
 
$4,820
 
2024
   
 
$19,897,221
 
   
 
$43,208,733
 
   
 
$5,012,487
 
   
 
$8,757,543
 
   
 
$219
 
   
 
$164
 
   
$
2,979
 
   
 
$4,591
 
2023
   
 
$22,186,164
 
   
 
$28,115,147
 
   
 
$5,292,423
 
   
 
$5,564,396
 
   
 
$178
 
   
 
$189
 
   
$
1,943
 
   
 
$3,763
 
2022
   
 
$16,091,588
 
   
 
$14,511,432
 
   
 
$6,533,381
 
   
 
$5,987,467
 
   
 
$150
 
   
 
$189
 
   
$
(601
) 
   
 
$2,981
 
2021
   
 
$15,646,452
 
   
 
$21,790,884
 
   
 
$5,751,387
 
   
 
$7,226,540
 
   
 
$119
 
   
 
$119
 
   
$
(219
) 
   
 
$2,681
 
 
(1)
For fiscal years 2025, 2024, 2023, 2022 and 2021, Mr. Simonelli was the PEO for the Company.
 
(2)
Compensation Actually Paid (“CAP”) is the Summary Compensation Table (“SCT”) total value for the period shown with adjustments for equity awards and pension (as described in more detail in the reconciliation table for our PEO and
non-PEOs
below). CAP reflects equity awards based on the
mark-to-market
valuation under ASC Topic 718: Compensation — Stock Compensation for each period in the above table. Pension values for CAP reflect the pension service cost as used in the financial statements for each period shown in the above table.
 
(3)
The Company calculates TSR with a base investment of $100 in a manner consistent with the stock performance graph disclosure
requirements
under Item 201(e) of Regulation
S-K
and is cumulative for the measurement periods beginning on December 31, 2020 and ending on December 31 of each 2025, 2024, 2023, 2022 and 2021, respectively. The peer group used for comparison for each of the fiscal years 2025, 2024, 2023, 2022 and 2021 is the Philadelphia Oil Service (“OSX”) Index.
 
(4)
We determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2025. Adjusted EBITDA is a key measure in our Short-Term Incentive Plan and influences payouts across our compensation programs. Adjusted EBITDA is a
non-GAAP
measure. A reconciliation of GAAP to
non-GAAP
measures is included in the Proxy Statement in Annex A.
The PEO Summary Compensation Table to CAP reconciliation is summarized in the following table:
 
Year
  
SCT
Total for
PEO
    
Minus SCT
Change in
Pension
Value for
PEO
    
Plus
Pension
Value
Service
Cost
(1)
    
Minus SCT
Equity for
PEO
    
Plus
EOY* Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus (Minus)
Change
from BOY* to
EOY in Fair
Value of
Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus Fair
Value at
Vesting
Date of
Awards
Granted
and Vested
During the
Fiscal Year
    
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
    
Minus Fair
Value at
BOY of
Awards
Granted in
Prior Year
that were
Forfeited
During the
Fiscal Year
    
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
    
PEO CAP
  
2025
  
 
21,363,825
 
  
 
911,327
 
  
 
—
 
  
 
13,310,819
 
  
 
13,843,791
 
  
 
3,431,639
 
  
 
—
 
  
 
8,997,953
 
  
 
—
 
  
 
—
 
  
 
33,415,063
 
2024
  
 
19,897,221
 
  
 
(171,000
) 
  
 
—
 
  
 
12,425,422
 
  
 
21,433,752
 
  
 
5,332,118
 
  
 
—
 
  
 
8,800,064
 
  
 
—
 
  
 
—
 
  
 
43,208,733
 
2023
  
 
22,186,164
 
  
 
992,907
 
  
 
—
 
  
 
12,588,972
 
  
 
15,121,517
 
  
 
2,022,918
 
  
 
—
 
  
 
2,366,427
 
  
 
—
 
  
 
—
 
  
 
28,115,147
 
2022
  
 
16,091,588
 
  
 
—
 
  
 
—
 
  
 
12,056,262
 
  
 
11,277,242
 
  
 
149,308
 
  
 
—
 
  
 
(950,444
) 
  
 
—
 
  
 
—
 
  
 
14,511,432
 
2021
  
 
15,646,452
 
  
 
—
 
  
 
—
 
  
 
10,856,292
 
  
 
13,182,502
 
  
 
2,328,558
 
  
 
—
 
  
 
1,489,664
 
  
 
—
 
  
 
—
 
  
 
21,790,884
 
*“EOY” = End of Year, “BOY” = Beginning of Year
 
Executive Compensation
 
The Average Other NEOs Summary Compensation Table to CAP reconciliation is summarized in the
following
table:
 
Year
  
SCT
Total for
Average
Other
NEOs
    
Minus SCT
Change in
Pension
Value for
Average
Other
NEOs
    
Plus
Pension
Value
Service
Cost
(1)
    
Minus SCT
Equity for
Average
Other
NEOs
    
Plus
EOY Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus (Minus)
Change
from BOY to
EOY in Fair
Value of
Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus Fair
Value at
Vesting
Date of
Awards
Granted
and Vested
During the
Fiscal Year
    
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
    
Minus Fair
Value at
BOY of
Awards
Granted in
Prior Year
that were
Forfeited
During the
Fiscal Year
    
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
    
Average
Other NEOs
CAP
  
2025
(1)
  
 
4,933,143
 
  
 
38,047
 
  
 
—
 
  
 
2,952,804
 
  
 
1,615,144
 
  
 
274,199
 
  
 
86,076
 
  
 
892,479
 
  
 
(2,350,402
) 
  
 
—
 
  
 
2,459,788
 
2024
(2)
  
 
5,012,487
 
  
 
514
 
  
 
—
 
  
 
2,625,312
 
  
 
4,416,916
 
  
 
1,390,290
 
  
 
—
 
  
 
563,677
 
  
 
—
 
  
 
—
 
  
 
8,757,543
 
2023
(3)
  
 
5,292,423
 
  
 
43,117
 
  
 
—
 
  
 
2,641,397
 
  
 
2,765,060
 
  
 
360,489
 
  
 
—
 
  
 
248,028
 
  
 
(417,089
) 
  
 
—
 
  
 
5,564,396
 
2022
(4)
  
 
6,533,381
 
  
 
—
 
  
 
—
 
  
 
4,542,718
 
  
 
4,004,019
 
  
 
104,392
 
  
 
—
 
  
 
(111,607
) 
  
 
—
 
  
 
—
 
  
 
5,987,467
 
2021
(5)
  
 
5,751,387
 
  
 
—
 
  
 
—
 
  
 
2,678,371
 
  
 
3,247,540
 
  
 
540,265
 
  
 
—
 
  
 
365,719
 
  
 
—
 
  
 
—
 
  
 
7,226,540
 
 
(1)
The average CAP for 2025 comprised of compensation for Mr. Moghal, Ms. Borras, Mr. Gatti, Ms. Magno, Ms. Buese and Mr. Ramaswamy.
 
(2)
The average CAP for 2024 comprised of compensation for Ms. Buese, Ms. Borras, Mr. Ramaswamy, and Ms. Magno.
 
(3)
The average CAP for 2023 comprised of compensation for Ms. Buese, Ms. Borras, Mr. Ramaswamy, Mr. Apostolides, Mr. Christie, and Ms. Jones.
 
(4)
The average CAP for 2022 comprised of compensation for Mr. Worrell, Ms. Buese, Ms. Borras, Mr. Christie, and Mr. Saunders.
 
(5)
The average CAP for 2021 comprised of compensation for Mr. Worrell, Ms. Borras, Mr. Christie, and Mr. Saunders.
       
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote
(1)
The average CAP for 2025 comprised of compensation for Mr. Moghal, Ms. Borras, Mr. Gatti, Ms. Magno, Ms. Buese and Mr. Ramaswamy.
 
(2)
The average CAP for 2024 comprised of compensation for Ms. Buese, Ms. Borras, Mr. Ramaswamy, and Ms. Magno.
 
(3)
The average CAP for 2023 comprised of compensation for Ms. Buese, Ms. Borras, Mr. Ramaswamy, Mr. Apostolides, Mr. Christie, and Ms. Jones.
 
(4)
The average CAP for 2022 comprised of compensation for Mr. Worrell, Ms. Buese, Ms. Borras, Mr. Christie, and Mr. Saunders.
 
(5)
The average CAP for 2021 comprised of compensation for Mr. Worrell, Ms. Borras, Mr. Christie, and Mr. Saunders.
       
Peer Group Issuers, Footnote The peer group used for comparison for each of the fiscal years 2025, 2024, 2023, 2022 and 2021 is the Philadelphia Oil Service (“OSX”) Index.        
PEO Total Compensation Amount $ 21,363,825 $ 19,897,221 $ 22,186,164 $ 16,091,588 $ 15,646,452
PEO Actually Paid Compensation Amount $ 33,415,063 43,208,733 28,115,147 14,511,432 21,790,884
Adjustment To PEO Compensation, Footnote
Year
  
SCT
Total for
PEO
    
Minus SCT
Change in
Pension
Value for
PEO
    
Plus
Pension
Value
Service
Cost
(1)
    
Minus SCT
Equity for
PEO
    
Plus
EOY* Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus (Minus)
Change
from BOY* to
EOY in Fair
Value of
Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus Fair
Value at
Vesting
Date of
Awards
Granted
and Vested
During the
Fiscal Year
    
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
    
Minus Fair
Value at
BOY of
Awards
Granted in
Prior Year
that were
Forfeited
During the
Fiscal Year
    
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
    
PEO CAP
  
2025
  
 
21,363,825
 
  
 
911,327
 
  
 
—
 
  
 
13,310,819
 
  
 
13,843,791
 
  
 
3,431,639
 
  
 
—
 
  
 
8,997,953
 
  
 
—
 
  
 
—
 
  
 
33,415,063
 
2024
  
 
19,897,221
 
  
 
(171,000
) 
  
 
—
 
  
 
12,425,422
 
  
 
21,433,752
 
  
 
5,332,118
 
  
 
—
 
  
 
8,800,064
 
  
 
—
 
  
 
—
 
  
 
43,208,733
 
2023
  
 
22,186,164
 
  
 
992,907
 
  
 
—
 
  
 
12,588,972
 
  
 
15,121,517
 
  
 
2,022,918
 
  
 
—
 
  
 
2,366,427
 
  
 
—
 
  
 
—
 
  
 
28,115,147
 
2022
  
 
16,091,588
 
  
 
—
 
  
 
—
 
  
 
12,056,262
 
  
 
11,277,242
 
  
 
149,308
 
  
 
—
 
  
 
(950,444
) 
  
 
—
 
  
 
—
 
  
 
14,511,432
 
2021
  
 
15,646,452
 
  
 
—
 
  
 
—
 
  
 
10,856,292
 
  
 
13,182,502
 
  
 
2,328,558
 
  
 
—
 
  
 
1,489,664
 
  
 
—
 
  
 
—
 
  
 
21,790,884
 
        
Non-PEO NEO Average Total Compensation Amount $ 4,933,143 5,012,487 5,292,423 6,533,381 5,751,387
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,459,788 8,757,543 5,564,396 5,987,467 7,226,540
Adjustment to Non-PEO NEO Compensation Footnote
Year
  
SCT
Total for
Average
Other
NEOs
    
Minus SCT
Change in
Pension
Value for
Average
Other
NEOs
    
Plus
Pension
Value
Service
Cost
(1)
    
Minus SCT
Equity for
Average
Other
NEOs
    
Plus
EOY Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus (Minus)
Change
from BOY to
EOY in Fair
Value of
Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
    
Plus Fair
Value at
Vesting
Date of
Awards
Granted
and Vested
During the
Fiscal Year
    
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
    
Minus Fair
Value at
BOY of
Awards
Granted in
Prior Year
that were
Forfeited
During the
Fiscal Year
    
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
    
Average
Other NEOs
CAP
  
2025
(1)
  
 
4,933,143
 
  
 
38,047
 
  
 
—
 
  
 
2,952,804
 
  
 
1,615,144
 
  
 
274,199
 
  
 
86,076
 
  
 
892,479
 
  
 
(2,350,402
) 
  
 
—
 
  
 
2,459,788
 
2024
(2)
  
 
5,012,487
 
  
 
514
 
  
 
—
 
  
 
2,625,312
 
  
 
4,416,916
 
  
 
1,390,290
 
  
 
—
 
  
 
563,677
 
  
 
—
 
  
 
—
 
  
 
8,757,543
 
2023
(3)
  
 
5,292,423
 
  
 
43,117
 
  
 
—
 
  
 
2,641,397
 
  
 
2,765,060
 
  
 
360,489
 
  
 
—
 
  
 
248,028
 
  
 
(417,089
) 
  
 
—
 
  
 
5,564,396
 
2022
(4)
  
 
6,533,381
 
  
 
—
 
  
 
—
 
  
 
4,542,718
 
  
 
4,004,019
 
  
 
104,392
 
  
 
—
 
  
 
(111,607
) 
  
 
—
 
  
 
—
 
  
 
5,987,467
 
2021
(5)
  
 
5,751,387
 
  
 
—
 
  
 
—
 
  
 
2,678,371
 
  
 
3,247,540
 
  
 
540,265
 
  
 
—
 
  
 
365,719
 
  
 
—
 
  
 
—
 
  
 
7,226,540
 
        
Compensation Actually Paid vs. Total Shareholder Return
 
LOGO
       
Compensation Actually Paid vs. Net Income
 
LOGO
       
Compensation Actually Paid vs. Company Selected Measure
 
LOGO
       
Total Shareholder Return Vs Peer Group
 
LOGO
       
Tabular List, Table
Most Important Performance Measures
Adjusted EBITDA
FCF
ROIC
Relative TSR
        
Total Shareholder Return Amount $ 248 219 178 150 119
Peer Group Total Shareholder Return Amount 165 164 189 189 119
Net Income (Loss) $ 2,588,000,000 $ 2,979,000,000 $ 1,943,000,000 $ (601,000,000) $ (219,000,000)
Company Selected Measure Amount 4,820,000,000 4,591,000,000 3,763,000,000 2,981,000,000 2,681,000,000
PEO Name Mr. Simonelli        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Non-GAAP Measure Description Adjusted EBITDA is a
non-GAAP
measure. A reconciliation of GAAP to
non-GAAP
measures is included in the Proxy Statement in Annex A. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name FCF        
Measure:: 3          
Pay vs Performance Disclosure          
Name ROIC        
Measure:: 4          
Pay vs Performance Disclosure          
Name Relative TSR        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (911,327) $ 171,000 $ (992,907)    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (13,310,819) (12,425,422) (12,588,972) $ (12,056,262) $ (10,856,292)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 13,843,791 21,433,752 15,121,517 11,277,242 13,182,502
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,431,639 5,332,118 2,022,918 149,308 2,328,558
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,997,953 8,800,064 2,366,427 (950,444) 1,489,664
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (38,047) (514) (43,117)    
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,952,804) (2,625,312) (2,641,397) (4,542,718) (2,678,371)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,615,144 4,416,916 2,765,060 4,004,019 3,247,540
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 274,199 1,390,290 360,489 104,392 540,265
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 86,076        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 892,479 $ 563,677 248,028 $ (111,607) $ 365,719
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (2,350,402)   $ (417,089)