Baker Hughes

As of September 30, 2025, cash and equivalents were about $2.7 billion and total debt about $6.1 billion, with the next senior notes maturity in December 2026 and a $3.0 billion undrawn revolver. Trailing adjusted EBITDA is roughly $4.8 billion, leaving pre‑deal net leverage well below 1x.

The all‑cash Chart acquisition is backed by committed financing and will likely lift net leverage to about 2.25x at close, with a stated plan to de‑lever to 1.0‑1.5x within 24 months via FCF and divestiture proceeds, including the PSI sale to Crane.

Balance sheet strength is solid today, but pro‑forma leverage and integration financing elevate risk in the near term.