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Business Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Information on business segments | The following tables present financial information on our business segments.
| Year Ended December 31
Millions of dollars | 2018 | 2017 | 2016
Revenue: |  |  |
Completion and Production | $ | 15,973 |  | $ | 13,077 |  | $ | 8,882 |
Drilling and Evaluation | 8,022 |  | 7,543 |  | 7,005 |
Total revenue | $ | 23,995 |  | $ | 20,620 |  | $ | 15,887 |
Operating income (loss): |  |  |
Completion and Production | $ | 2,278 |  | $ | 1,625 |  | $ | 108 |
Drilling and Evaluation | 745 |  | 726 |  | 801 |
Total operations | 3,023 |  | 2,351 |  | 909 |
Corporate and other (a) | (291 | ) | (330 | ) | (4,322 | )
Impairments and other charges (b) | (265 | ) | (647 | ) | (3,357 | )
Total operating income (loss) | $ | 2,467 |  | $ | 1,374 |  | $ | (6,770 | )
Interest expense, net of interest income | $ | (554 | ) | $ | (593 | ) | $ | (639 | )
Other, net | (99 | ) | (99 | ) | (216 | )
Income (loss) from continuing operations before income taxes | $ | 1,814 |  | $ | 682 |  | $ | (7,625 | )
Capital expenditures: |  |  |
Completion and Production | $ | 1,364 |  | $ | 1,111 |  | $ | 500 |
Drilling and Evaluation | 657 |  | 261 |  | 297 |
Corporate and other | 5 |  | 1 |  | 1 |
Total | $ | 2,026 |  | $ | 1,373 |  | $ | 798 |
Depreciation, depletion and amortization: |  |  |
Completion and Production | $ | 1,058 |  | $ | 953 |  | $ | 900 |
Drilling and Evaluation | 512 |  | 563 |  | 569 |
Corporate and other | 36 |  | 40 |  | 34 |
Total | $ | 1,606 |  | $ | 1,556 |  | $ | 1,503 |
(a) Includes certain expenses not attributable to a particular business segment, such as costs related to support functions and corporate executives, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions. Also includes merger-related costs and a termination fee during the year ended December 31, 2016. (b) Impairments and other charges are as follows: -For the year ended December 31, 2018, the aggregate charge of $265 million represents a write-down of all of our remaining investment in Venezuela, consisting of receivables, fixed assets, inventory and other assets and liabilities. -For the year ended December 31, 2017, the aggregate charge of $647 million represents a fair market value adjustment on our existing promissory note with our primary customer in Venezuela and a full reserve against our other accounts receivable with this customer. -For the year ended December 31, 2016, the aggregate charge of $3.4 billion consisted of fixed asset impairments and write-offs, inventory write-downs, impairments of intangible assets, severance costs, country and facility closures, and other charges related to the energy downturn. This included $2.1 billion attributable to Completion and Production, $1.2 billion attributable to Drilling and Evaluation and $10 million attributable to Corporate and other.
Reconciliation of assets from segment to consolidated |
| December 31
Millions of dollars | 2018 | 2017
Total assets: |  |
Completion and Production (a) | $ | 13,231 |  | $ | 12,276 |
Drilling and Evaluation (a) | 8,037 |  | 7,837 |
Corporate and shared assets (b) | 4,714 |  | 4,972 |
Total | $ | 25,982 |  | $ | 25,085 |
(a) Assets associated with specific segments primarily include receivables, inventories, certain identified property, plant and equipment (including field service equipment), equity in and advances to related companies and goodwill. (b) Corporate and other shared assets primarily include cash and equivalents and deferred tax assets.
Schedule of revenue from external customers and long-lived assets, by geographical areas |
| Year Ended December 31
Millions of dollars | 2018 | 2017 | 2016
Revenue: |  |  |
North America | $ | 14,431 |  | $ | 11,564 |  | $ | 6,770 |
Latin America | 2,065 |  | 2,116 |  | 1,860 |
Europe/Africa/CIS | 2,945 |  | 2,781 |  | 2,993 |
Middle East/Asia | 4,554 |  | 4,159 |  | 4,264 |
Total | $ | 23,995 |  | $ | 20,620 |  | $ | 15,887 |
| December 31
Millions of dollars | 2018 | 2017
Net property, plant and equipment: |  |
North America | $ | 5,672 |  | $ | 4,922 |
Latin America | 974 |  | 945 |
Europe/Africa/CIS | 938 |  | 1,098 |
Middle East/Asia | 1,377 |  | 1,556 |
Total | $ | 8,961 |  | $ | 8,521 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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