Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

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


	Rig Systems			Rig Aftermarket			Wellbore Technologies			Completion & Production Solutions			Discontinued Operations			Total
Balance at December 31, 2013	$	1,279		$	906		$	4,425		$	2,106		$	333		$	9,049
Goodwill acquired and adjusted during period		—			—			17			150			—			167
Goodwill disposed of during the period		—			—			—			(71	)		(332	)		(403	)
Currency translation adjustments and other		(43	)		(29	)		(85	)		(116	)		(1	)		(274	)

Balance at December 31, 2014	$	1,236		$	877		$	4,357		$	2,069		$	—		$	8,539
Goodwill acquired and adjusted during period		—			—			8			(8	)		—			—
Impairment		—			—			(1,485	)		—			—			(1,485	)
Currency translation adjustments and other		(4	)		—			(6	)		(64	)		—			(74	)

Balance at December 31, 2015	$	1,232		$	877		$	2,874		$	1,997		$	—		$	6,980

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


	Rig Systems			Rig Aftermarket			Wellbore Technologies			Completion & Production Solutions			Discontinued Operations			Total
Balance at December 31, 2013	$	232		$	142		$	2,999		$	1,614		$	68		$	5,055
Additions to intangible assets		—			—			5			54			—			59
Disposal of intangible assets		—			—			—			(50	)		(67	)		(117	)
Asset impairment		—			—			(104	)		—			—			(104	)
Amortization		(22	)		(6	)		(218	)		(119	)		(1	)		(366	)
Currency translation adjustments and other		(2	)		(3	)		(16	)		(62	)		—			(83	)

Balance at December 31, 2014	$	208		$	133		$	2,666		$	1,437		$	—		$	4,444
Additions to intangible assets		—			—			2			57			—			59
Asset impairment		(7	)		—			(173	)		(24	)		—			(204	)
Amortization		(22	)		(6	)		(214	)		(114	)		—			(356	)
Currency translation adjustments and other		(3	)		(4	)		(27	)		(60	)		—			(94	)

Balance at December 31, 2015	$	176		$	123		$	2,254		$	1,296		$	—		$	3,849

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


	Gross		Accumulated Amortization			Net Book Value
December 31, 2014:

Customer relationships	$	4,094	$	(1,379	)	$	2,715
Trademarks		871		(226	)		645
Indefinite-lived trade names		536		—			536
Other		1,058		(510	)		548

Total identified intangibles	$	6,559	$	(2,115	)	$	4,444

December 31, 2015:

Customer relationships	$	4,016	$	(1,630	)	$	2,386
Trademarks		880		(265	)		615
Indefinite-lived trade names		384		—			384
Other		1,040		(576	)		464

Total identified intangibles	$	6,320	$	(2,471	)	$	3,849

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


Balance at December 31, 2013	$	228

Net provisions for warranties issued during the year		123
Amounts incurred		(78	)
Currency translation adjustments and other		(1	)

Balance at December 31, 2014	$	272

Net provisions for warranties issued during the year		92
Amounts incurred		(117	)
Currency translation adjustments and other		(3	)

Balance at December 31, 2015	$	244

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,
	2015			2014		2013
Numerator:
Income (loss) from continuing operations	$	(769	)	$	2,450	$	2,180

Income from discontinued operations	$	—		$	52	$	147

Net income (loss) attributable to Company	$	(769	)	$	2,502	$	2,327

Denominator:
Basic—weighted average common shares outstanding		387			428		426
Dilutive effect of employee stock options and other unvested stock awards		—			2		2

Diluted outstanding shares		387			430		428

Per share data:
Basic:
Income (loss) from continuing operations	$	(1.99	)	$	5.73	$	5.11

Income from discontinued operations	$	—		$	0.12	$	0.35

Net income (loss) attributable to Company	$	(1.99	)	$	5.85	$	5.46

Diluted:
Income (loss) from continuing operations	$	(1.99	)	$	5.70	$	5.09

Income from discontinued operations	$	—		$	0.12	$	0.35

Net income (loss) attributable to Company	$	(1.99	)	$	5.82	$	5.44

Cash dividends per share	$	1.84		$	1.64	$	0.91