A rotating machine including a rotor operable to rotate about a centerline axis and subjected to axial thrust loads along the centerline axis during operation; a balance piston engaged with the rotor; a stator positioned around the balance piston and the rotor wherein a fluid passageway extends between the internal face of the stator and the external face of the balance piston; the fluid passageway including at least one cavity. A balance piston for a rotating machine including at least two segments arranged with a shift in diameter between each other.