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)	2019			2018			2017			2016			2015
Revenue	$	23,838		$	22,877		$	17,179		$	13,082		$	16,688

Cost of revenue	19,406			18,891			14,143			10,150			12,193
Selling, general and administrative	2,832			2,699			2,535			1,926			2,115
Restructuring, impairment and other (2)	342			433			412			516			411
Goodwill impairment (3)	—			—			—			—			2,080
Separation and merger related (4)	184			153			373			33			27
Operating income (loss)	1,074			701			(284		)	457			(138		)
Other non operating income (loss), net	(84		)	202			80			3			100
Interest expense, net	(237		)	(223		)	(131		)	(102		)	(120		)
Income (loss) before income taxes and equity in loss of affiliate	753			680			(335		)	358			(158		)
Equity in loss of affiliate	—			(139		)	(11		)	—			—
Income tax provision	(482		)	(258		)	(45		)	(173		)	(473		)
Net income (loss)	271			283			(391		)	185			(631		)
Less: Net income (loss) attributable to GE O&G pre-merger	—			—			42			254			(606		)
Less: Net income (loss) attributable to noncontrolling interests	143			88			(330		)	(69		)	(25		)
Net income (loss) attributable to Baker Hughes Company	$	128		$	195		$	(103	)	$	—		$	—

Per share of common stock:
Basic income (loss) per Class A common share	$	0.23		$	0.46		$	(0.24	)
Diluted income (loss) per Class A common share	0.23			0.45			(0.24		)

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

Balance Sheet Data:
Cash and cash equivalents(5)	$	3,249		$	3,723		$	7,030		$	981		$	1,432
Total assets	53,369			52,439			56,500			21,466			23,133
Long-term debt	6,301			6,285			6,312			38			13
Total equity	34,499			35,013			38,410			14,280			14,545

Notes to Selected Financial Data


(1)	The 2019 and 2018 results are not comparable to prior years as the results of BHI are included only from July 3, 2017. Additionally, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, and the related amendments with effect from January 1, 2016. Accordingly, 2015 period is not presented under the new revenue standard.

(1)

The 2019 and 2018 results are not comparable to prior years as the results of BHI are included only from July 3, 2017. Additionally, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, and the related amendments with effect from January 1, 2016. Accordingly, 2015 period is not presented under the new revenue standard.


(2)	See "Note 21. Restructuring, Impairment and Other" of the Notes to Consolidated and Combined Financial Statements in Item 8 herein for further discussion.

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(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 1. Basis of Presentation and Summary of Significant Accounting Policies " of the Notes to Consolidated and Combined Financial Statements in Item 8 herein for further discussion of separation and merger related costs.


(5)	Cash and cash equivalents includes $162 million and $747 million of cash held on behalf of GE at December 31, 2019 and 2018, respectively.

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