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Impairments and Other Charges | 3 Months Ended
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Mar. 31, 2025
Restructuring and Related Activities [Abstract] |
Impairments and Other Charges | Impairments and Other Charges The following table presents various pre-tax charges we recorded during the three months ended March 31, 2025, which are reflected within “Impairments and other charges” on our condensed consolidated statements of operations.
| Three Months Ended
| March 31,
Millions of dollars | 2025
Severance costs | $107
Impairment of assets held for sale | 104
Impairment of real estate facilities | 53
Other | 92
Total impairments and other charges | $356
Of the $356 million pre-tax charges recorded during the three months ended March 31, 2025, $201 million was attributable to our Completion and Production segment, $85 million was attributable to our Drilling and Evaluation segment, and $70 million was attributable to Corporate and other. During the first quarter of 2025, we recorded $107 million in severance expense as we rationalized global headcount to align with activity levels and $104 million of additional impairment associated with a strategic decision to market for sale a portion of our chemical business. Additionally, we recognized a $53 million impairment related to facility closures and lease terminations. Other charges of $92 million is primarily related to legacy environmental remediation cost estimate increases. During the three months ended March 31, 2024, there were no amounts recorded in impairments and other charges.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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