Baker Hughes Co (BHGE) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Total revenues [+]	20,502	20,705	23,838	22,877	17,179	13,082	16,688
Products							12,353
Services							4,335
Revenue growth [+]	-1.0%	-13.1%	4.2%	33.2%	31.3%	-21.6%
Oilfield Services	-5.9%	-21.3%	10.9%	97.5%
Cost of goods sold [+]	16,513	17,640	19,590	18,891	13,731	10,150	12,193
Cost of product sales							9,271
Cost of services							2,922
Gross profit	3,989	3,065	4,248	3,986	3,448	2,932	4,495
Gross margin	19.5%	14.8%	17.8%	17.4%	20.1%	22.4%	26.9%
Selling, general and administrative	2,470	2,404	2,832	2,699	2,535	1,926	2,115
Equity in earnings				139	11
EBITDA [+]	2,624	1,978	2,834	2,912	2,027	1,556	2,910
EBITDA growth	32.7%	-30.2%	-2.7%	43.7%	30.3%	-46.5%
EBITDA margin	12.8%	9.6%	11.9%	12.7%	11.8%	11.9%	17.4%
Depreciation	852	1,009	1,053	1,031	716	311	351
EBITA	1,772	969	1,781	1,881	1,311	1,245	2,559
EBITA margin	8.6%	4.7%	7.5%	8.2%	7.6%	9.5%	15.3%
Amortization of intangibles	253	308	365	455	387	239	179
EBIT [+]	1,519	661	1,416	1,426	924	1,006	2,380
EBIT growth	129.8%	-53.3%	-0.7%	54.3%	-8.2%	-57.7%
EBIT margin	7.4%	3.2%	5.9%	6.2%	5.4%	7.7%	14.3%
Non-recurring items [+]	209	16,639	342	586	1,197	549	2,518
Asset impairment		14,773			412	516	2,491
Interest expense	299	264	237	223	131	102	120
Interest expense	299	264	237	223	131	102	120
Other income (expense), net	-583	1,040	-84	-76	58	3	100
Pre-tax income	428	-15,202	753	541	-346	358	-158
Income taxes	758	559	482	258	45	173	473
Tax rate	177.1%		64.0%	47.7%		48.3%
Minority interest	-111	-5,821	143	88	-330	-69	-25
Net income	-219	-9,940	128	195	-61	254	-606
Net margin	-1.1%	-48.0%	0.5%	0.9%	-0.4%	1.9%	-3.6%

Basic EPS [+]	($0.27)	($14.73)	$0.23	$0.46	($0.14)
Growth	-98.2%	-6508.1%	-49.7%	-419.7%
Diluted EPS [+]	($0.21)	($9.61)	$0.12	$0.45	($0.14)
Growth	-97.8%	-7865.6%	-72.8%	-418.2%

Dividends per share [+]	$0.72	$0.72	$0.71	$0.74	$0.36
Growth	-0.6%	1.9%	-3.9%	103.2%

Shares outstanding (basic) [+]	824	675	557	427	427
Growth	22.1%	21.2%	30.4%	0.0%
Shares outstanding (diluted) [+]	1,039	1,034	1,034	429	427
Growth	0.5%	0.0%	141.0%	0.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.