Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The Selected Financial Data should be read in conjunction with Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data, both contained herein.



	Year Ended December 31,(1)
(In millions, except per share amounts)	2018			2017			2016			2015			2014
Revenue	$	22,877		$	17,179		$	13,082		$	16,688		$	19,191

Cost of revenue	18,891			14,143			10,150			12,193			14,256
Selling, general and administrative	2,699			2,535			1,926			2,115			2,288
Restructuring, impairment and other (2)	433			412			516			411			189
Goodwill impairment (3)	—			—			—			2,080			—
Merger and related costs (4)	153			373			33			27			67
Operating income (loss)	701			(284		)	457			(138		)	2,391
Other non operating income, net	202			80			3			100			124
Interest expense, net	(223		)	(131		)	(102		)	(120		)	(179		)
Income (loss) before income taxes and equity in loss of affiliate	680			(335		)	358			(158		)	2,336
Equity in loss of affiliate	(139		)	(11		)	—			—			—
Income tax provision	(258		)	(45		)	(173		)	(473		)	(484		)
Net income (loss)	283			(391		)	185			(631		)	1,852
Less: Net income (loss) attributable to GE O&G pre-merger	—			42			254			(606		)	1,840
Less: Net income (loss) attributable to noncontrolling interests	88			(330		)	(69		)	(25		)	12
Net income (loss) attributable to Baker Hughes, a GE company	$	195		$	(103	)	$	—		$	—		$	—

Per share of common stock:
Basic income (loss) per Class A common share	$	0.46		$	(0.24	)
Diluted income (loss) per Class A common share	0.45			(0.24		)

Dividend:
Cash dividend per Class A common share	0.72			0.35
Special dividend per Class A common share				17.50

Balance Sheet Data:
Cash, cash equivalents and restricted cash (5)	$	3,723		$	7,030		$	981		$	1,432		$	1,390
Total assets	52,439			56,500			21,466			23,133			26,496
Long-term debt	6,285			6,312			38			13			14
Total equity	35,013			38,410			14,280			14,545			16,386

Notes to Selected Financial Data


(1)	The current year results are not comparable to prior years as the results of Baker Hughes are included only from July 3, 2017. Additionally, we adopted FASB ASU No. 2014-09, Revenue from Contracts with Customers, and the related amendments with effect from January 1, 2016 on a full retrospective basis. Accordingly, the 2016, 2017 and 2018 fiscal year periods are presented under the new revenue standard and the 2014 and 2015 periods are not presented under the new revenue standard.

(1)

The current year results are not comparable to prior years as the results of Baker Hughes are included only from July 3, 2017. Additionally, we adopted FASB ASU No. 2014-09, Revenue from Contracts with Customers, and the related amendments with effect from January 1, 2016 on a full retrospective basis. Accordingly, the 2016, 2017 and 2018 fiscal year periods are presented under the new revenue standard and the 2014 and 2015 periods are not presented under the new revenue standard.


(2)	See "Note 20. Restructuring, Impairment and Other" of the Notes to Consolidated and Combined Financial Statements in Item 8 herein for further discussion.

BHGE 2018 FORM 10-K | 27


(3)	In performing the annual impairment test for goodwill in the third quarter of 2015 using data as of July 1 of that year, we determined that a step two test was required for a reporting unit within our OFS operating segment. As a consequence of the continued pressure on oil prices, the revised expected cash flows for this reporting unit resulted in a goodwill impairment charge of $2,080 million


(4)	See "Note 3. Business Acquisition and Disposition" of the Notes to Consolidated and Combined Financial Statements in Item 8 herein for further discussion of merger and related costs.


(5)	Cash, cash equivalents and restricted cash includes $747 million and $997 million of cash held on behalf of GE at December 31, 2018 and 2017, respectively.

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