Baker Hughes to change income statement presentation; removes operating income subtotal, separates R&D costs

Baker Hughes Co

Starting Q1 2025, R&D costs will be separately presented, removed from cost of goods/services sold.
Operating income subtotal and non-operating income (loss) line items will be removed from the income statement.
Financial supplement recasts FY2022–2024 results under new presentation; no impact on previously reported net income or segment results.
Change is a voluntary presentation adjustment, not a restatement, and has no effect on historical financials.

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