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Segment Information (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

 

  

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2019

 

 

Third Quarter 2018

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Before

 

 

 

 

 

 

Before

 

 

Revenue

 

 

Taxes

 

 

Revenue

 

 

Taxes

 

Reservoir Characterization

$

1,651

 

 

$

360

 

 

$

1,587

 

 

$

361

 

Drilling

 

2,470

 

 

 

305

 

 

 

2,429

 

 

 

339

 

Production

 

3,153

 

 

 

288

 

 

 

3,249

 

 

 

320

 

Cameron

 

1,363

 

 

 

173

 

 

 

1,386

 

 

 

160

 

Eliminations & other

 

(96

)

 

 

(30

)

 

 

(147

)

 

 

(28

)

 

 

 

 

 

 

1,096

 

 

 

 

 

 

 

1,152

 

Corporate & other (1)

 

 

 

 

 

(231

)

 

 

 

 

 

 

(234

)

Interest income (2)

 

 

 

 

 

7

 

 

 

 

 

 

 

8

 

Interest expense (3)

 

 

 

 

 

(151

)

 

 

 

 

 

 

(139

)

Charges and credits (4)

 

 

 

 

 

(12,692

)

 

 

 

 

 

 

-

 

 

$

8,541

 

 

$

(11,971

)

 

$

8,504

 

 

$

787

 

 

 

(1)

Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.  

(2)

Interest income excludes amounts which are included in the segments’ income ($1 million in 2019; $2 million in 2018).

(3)

Interest expense excludes amounts which are included in the segments’ income ($9 million in 2019; $8 million in 2018).

(4)

See Note 2 – Charges and Credits.

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2019

 

 

Nine Months 2018

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Before

 

 

 

 

 

 

Before

 

 

Revenue

 

 

Taxes

 

 

Revenue

 

 

Taxes

 

Reservoir Characterization

$

4,669

 

 

$

959

 

 

$

4,602

 

 

$

987

 

Drilling

 

7,279

 

 

 

913

 

 

 

6,789

 

 

 

921

 

Production

 

9,120

 

 

 

740

 

 

 

9,458

 

 

 

853

 

Cameron

 

3,949

 

 

 

486

 

 

 

4,175

 

 

 

522

 

Eliminations & other

 

(328

)

 

 

(126

)

 

 

(388

)

 

 

(63

)

 

 

 

 

 

 

2,972

 

 

 

 

 

 

 

3,220

 

Corporate & other (1)

 

 

 

 

 

(742

)

 

 

 

 

 

 

(699

)

Interest income (2)

 

 

 

 

 

25

 

 

 

 

 

 

 

44

 

Interest expense (3)

 

 

 

 

 

(433

)

 

 

 

 

 

 

(405

)

Charges and credits (4)

 

 

 

 

 

(12,692

)

 

 

 

 

 

 

(184

)

 

$

24,689

 

 

$

(10,870

)

 

$

24,636

 

 

$

1,976

 

 

 

(1)

Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.  

(2)

Interest income excludes amounts which are included in the segments’ income ($6 million in 2019; $7 million in 2018).

(3)

Interest expense excludes amounts which are included in the segments’ income ($29 million in both 2019 and 2018).

(4)

See Note 2 – Charges and Credits.

 

Revenue by Geographic Area

Revenue by geographic area was as follows:

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter

 

 

Nine Months

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

North America

$

2,850

 

 

$

3,189

 

 

$

8,389

 

 

$

9,164

 

Latin America

 

1,014

 

 

 

978

 

 

 

3,121

 

 

 

2,767

 

Europe/CIS/Africa

 

2,062

 

 

 

1,820

 

 

 

5,665

 

 

 

5,316

 

Middle East & Asia

 

2,553

 

 

 

2,417

 

 

 

7,343

 

 

 

7,079

 

Eliminations & other

 

62

 

 

 

100

 

 

 

171

 

 

 

310

 

 

$

8,541

 

 

$

8,504

 

 

$

24,689

 

 

$

24,636

 

 

Summary of North America and International Revenue Disaggregated by Segment

North America and International revenue disaggregated by segment was as follows:

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2019

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

299

 

 

$

1,347

 

 

$

5

 

 

$

1,651

 

Drilling

 

553

 

 

 

1,861

 

 

 

56

 

 

 

2,470

 

Production

 

1,426

 

 

 

1,726

 

 

 

1

 

 

 

3,153

 

Cameron

 

589

 

 

 

772

 

 

 

2

 

 

 

1,363

 

Other

 

(17

)

 

 

(77

)

 

 

(2

)

 

 

(96

)

 

$

2,850

 

 

$

5,629

 

 

$

62

 

 

$

8,541

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2018

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

242

 

 

$

1,312

 

 

$

33

 

 

$

1,587

 

Drilling

 

601

 

 

 

1,760

 

 

 

68

 

 

 

2,429

 

Production

 

1,724

 

 

 

1,524

 

 

 

1

 

 

 

3,249

 

Cameron

 

644

 

 

 

713

 

 

 

29

 

 

 

1,386

 

Other

 

(22

)

 

 

(94

)

 

 

(31

)

 

 

(147

)

 

$

3,189

 

 

$

5,215

 

 

$

100

 

 

$

8,504

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2019

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

756

 

 

$

3,898

 

 

$

15

 

 

$

4,669

 

Drilling

 

1,683

 

 

 

5,435

 

 

 

161

 

 

 

7,279

 

Production

 

4,218

 

 

 

4,900

 

 

 

2

 

 

 

9,120

 

Cameron

 

1,771

 

 

 

2,146

 

 

 

32

 

 

 

3,949

 

Other

 

(39

)

 

 

(250

)

 

 

(39

)

 

 

(328

)

 

$

8,389

 

 

$

16,129

 

 

$

171

 

 

$

24,689

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2018

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

732

 

 

$

3,729

 

 

$

141

 

 

$

4,602

 

Drilling

 

1,733

 

 

 

4,884

 

 

 

172

 

 

 

6,789

 

Production

 

4,919

 

 

 

4,535

 

 

 

4

 

 

 

9,458

 

Cameron

 

1,842

 

 

 

2,250

 

 

 

83

 

 

 

4,175

 

Other

 

(62

)

 

 

(236

)

 

 

(90

)

 

 

(388

)

 

$

9,164

 

 

$

15,162

 

 

$

310

 

 

$

24,636