Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill is identified by segment as follows (in millions):


	Rig Technology			Petroleum Services & Supplies			Distribution & Transmission			Total
Balance at December 31, 2011	$	1,959		$	4,089		$	103		$	6,151
Goodwill acquired during period		412			241			347			1,000
Currency translation adjustments and other		15			3			3			21

Balance at December 31, 2012	$	2,386		$	4,333		$	453		$	7,172
Goodwill acquired during the period		262			1,363			278			1,903
Currency translation adjustments and other		(5	)		(13	)		(8	)		(26	)

Balance at December 31, 2013	$	2,643		$	5,683		$	723		$	9,049

The net book values of identified intangible assets are identified by segment as follows (in millions):


	Rig Technology			Petroleum Services & Supplies			Distribution & Transmission			Total
Balance at December 31, 2011	$	654		$	3,391		$	28		$	4,073
Additions to intangible assets		545			380			56			981
Amortization		(76	)		(224	)		(5	)		(305	)
Currency translation adjustments and other		(11	)		3			2			(6	)

Balance at December 31, 2012	$	1,112		$	3,550		$	81		$	4,743
Additions to intangible assets		101			421			174			696
Amortization		(90	)		(259	)		(14	)		(363	)
Currency translation adjustments and other		2			(24	)		1			(21	)

Balance at December 31, 2013	$	1,125		$	3,688		$	242		$	5,055

Identified intangible assets by major classification consist of the following (in millions):


	Gross		Accumulated Amortization			Net Book Value
December 31, 2012:
Customer relationships	$	3,522	$	(907	)	$	2,615
Trademarks		877		(152	)		725
Indefinite-lived trade names		643		—			643
Other		1,087		(327	)		760

Total identified intangibles	$	6,129	$	(1,386	)	$	4,743

December 31, 2013:
Customer relationships	$	4,093	$	(1,147	)	$	2,946
Trademarks		893		(195	)		698
Indefinite-lived trade names		643		—			643
Other		1,175		(407	)		768

Total identified intangibles	$	6,804	$	(1,749	)	$	5,055

The changes in the carrying amount of service and product warranties are as follows (in millions):


Balance at December 31, 2011	$	211

Net provisions for warranties issued during the year		51
Amounts incurred		(76	)
Currency translation adjustments and other		8

Balance at December 31, 2012	$	194

Net provisions for warranties issued during the year		101
Amounts incurred		(73	)
Currency translation adjustments and other		6

Balance at December 31, 2013	$	228

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):


	Years Ended December 31,
	2013		2012		2011
Numerator:
Net income attributable to Company	$	2,327	$	2,491	$	1,994

Denominator:
Basic—weighted average common shares outstanding		426		425		422
Dilutive effect of employee stock options and other unvested stock awards		2		2		2

Diluted outstanding shares		428		427		424

Basic earnings attributable to Company per share	$	5.46	$	5.86	$	4.73

Diluted earnings attributable to Company per share	$	5.44	$	5.83	$	4.70

Cash dividends per share	$	0.91	$	0.49	$	0.45