Baker Hughes 2015 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2015 Baker Hughes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

46
BAKER HUGHES INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Year Ended December 31,
(In millions, except per share amounts) 2015 2014 2013
Revenue:
Sales $ 5,649 $ 8,056 $ 7,594
Services 10,093 16,495 14,770
Total revenue 15,742 24,551 22,364
Costs and expenses:
Cost of sales 4,863 6,294 5,932
Cost of services 9,639 13,452 12,621
Research and engineering 483 613 556
Marketing, general and administrative 1,173 1,271 1,306
Impairment and restructuring charges 1,993 — —
Litigation settlements (13) 62 —
Total costs and expenses 18,138 21,692 20,415
Operating (loss) income (2,396) 2,859 1,949
Interest expense, net (217) (232) (234)
(Loss) income before income taxes (2,613) 2,627 1,715
Income taxes 639 (896) (612)
Net (loss) income (1,974) 1,731 1,103
Net loss (income) attributable to noncontrolling interests 7 (12) (7)
Net (loss) income attributable to Baker Hughes $ (1,967) $ 1,719 $ 1,096
Basic (loss) earnings per share attributable to Baker Hughes $ (4.49) $ 3.93 $ 2.47
Diluted (loss) earnings per share attributable to Baker Hughes $ (4.49) $ 3.92 $ 2.47
See Notes to Consolidated Financial Statements