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Business Segments
 3 Months Ended
Mar. 31, 2012
Business Segments [Abstract]  
Business Segments

6. Business Segments

Operating results by segment are as follows (in millions):

 

 

                 
    Three Months Ended
March  31,		  
    2012     2011  

Revenue:

                

Rig Technology

   $ 2,259     $ 1,608  

Petroleum Services & Supplies

     1,704       1,265  

Distribution & Transmission

     564       410  

Elimination

     (224 )      (137 ) 
   

 

 

    

 

 

  

Total Revenue

   $ 4,303     $ 3,146  
   

 

 

    

 

 

  

Operating Profit:

                

Rig Technology

   $ 547     $ 419  

Petroleum Services & Supplies

     388       231  

Distribution & Transmission

     43       27  

Unallocated expenses and eliminations

     (101 )      (68 ) 
   

 

 

    

 

 

  

Total Operating Profit

   $ 877     $ 609  
   

 

 

    

 

 

  

Operating Profit %:

                

Rig Technology

     24.2 %      26.1 % 

Petroleum Services & Supplies

     22.8 %      18.3 % 

Distribution & Transmission

     7.6 %      6.6 % 

Total Operating Profit %

     20.4 %      19.4 % 

The Company had revenues of 11% and 12% of total revenue from one of its customers for the three months ended March 31, 2012 and 2011, respectively. This customer, Samsung Heavy Industries, is a shipyard acting as a general contractor for its customers, who are drillship owners and drilling contractors. This shipyard’s customers have specified that the Company’s drilling equipment be installed on their drillships and have required the shipyard to issue contracts to the Company.