XML 55 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segments
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Business Segments
6. Business Segments

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

 

     Three Months Ended
March 31,		  
     2014     2013  

Revenue:

     

Rig Technology

    $ 3,009      $ 2,628   

Petroleum Services & Supplies

      1,789        1,701   

Distribution & Transmission

      1,281        1,227   

Eliminations

      (302 )      (249 ) 
  

 

 

    

 

 

  

Total Revenue

    $ 5,777      $ 5,307   
  

 

 

    

 

 

  

Operating Profit:

     

Rig Technology

    $ 634      $ 550   

Petroleum Services & Supplies

      321        255   

Distribution & Transmission

      55        63   

Unallocated expenses and eliminations

      (149 )      (117 ) 
  

 

 

    

 

 

  

Total Operating Profit

    $ 861      $ 751   
  

 

 

    

 

 

  

Operating Profit %:

     

Rig Technology

      21.1 %      20.9 % 

Petroleum Services & Supplies

      17.9 %      15.0 % 

Distribution & Transmission

      4.3 %      5.1 % 

Total Operating Profit %

      14.9 %      14.2 % 

Included in operating profit are other costs related to acquisitions, such as transaction costs, the amortization of backlog and inventory that was stepped up to fair value during purchase accounting, the costs of the proposed spin-off of the Company’s distribution business and certain legal costs. Other costs by segment are as follows (in millions):

 

     Three Months Ended
March 31,		  
     2014      2013  

Other costs:

      

Rig Technology

    $ 1       $ 7   

Petroleum Services & Supplies

      5         56   

Distribution & Transmission

      13         2   
  

 

 

     

 

 

  

Total other costs

    $ 19       $ 65