SEC Filings

Baker Hughes Pins $8.33 Billion Of Its $14.8 Billion Chart Price On Goodwill

The Chart allocation is preliminary, with $5.92 billion in intangibles that push amortization to $741 million in 2027.

Baker Hughes assigned $8,330 million of goodwill and $5,920 million of other intangibles to its $14,809 million purchase of Chart Industries, a 10-Q filed Wednesday shows. The split is preliminary, and the intangibles will weigh on earnings through amortization charges for years.

Where the $14.8 billion went

Baker Hughes, an energy technology company that sells oilfield equipment and services, gas turbines and compressors, closed the Chart deal on July 16, 2026. Consideration was $10,054 million paid to Chart shareholders, $4,451 million to settle Chart's third-party debt, $258 million to end Chart's 2025 merger with Flowserve, and $46 million for stock-based awards.

Goodwill is the largest single piece, and the company says it mainly reflects expected synergies and is not deductible for tax purposes. Of the intangibles, customer relationships carry $3,610 million over 20 years, trade names $1,345 million over 20 years, technology $567 million over eight years, and software $28 million over five years. A one-year backlog asset accounts for $370 million.

The company also recorded $1,159 million of deferred income tax liabilities in the allocation.

Amortization steps up

The filing's amortization schedule projects $741 million for 2027, against $216 million in the prior quarter's schedule. It then falls to $522 million in 2028 and $448 million by 2031.

Chart contributed $888 million of revenue and $156 million of segment EBITDA from the acquisition date, but it also carried $143 million of acquired-intangible amortization. Baker Hughes' third-quarter net income attributable was $411 million, against $609 million a year earlier, and the company's discussion points to amortization, an inventory step-up, higher interest and transaction costs.

Debt tripled and the allocation stays open

Provisional amounts may be revised for up to one year from the acquisition date. Total debt reached $18,264 million, from $6,087 million at the end of 2025, after a March notes offering and two $1.0 billion two-year term loans signed in July.

The next maturity is a $600 million 2.06% note due in December 2026. The company repurchased no shares in the first nine months of 2026, against $384 million bought back in the same period of 2025.

Baker Hughes has until July 2027 to finalize the Chart numbers, and the December note comes due first.