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Business Segments and Geographic Areas | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Business Segments and Geographic Areas | 15. Business Segments and Geographic Areas The Company’s operations are organized into three reportable segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. Within the three reporting segments, the Company has six business units under Wellbore Technologies, nine business units under Completion & Production Solutions and two under Rig Technologies, for a total of 17 business units. The Company has aggregated each of its business units in one of the three reporting segments based on the guidelines of ASC Topic 280, “Segment Reporting” (“ASC Topic 280”). Wellbore Technologies The Company’s Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance, including: solids control and waste management equipment and services; drilling fluids; portable power generation; premium drill pipe; wired pipe; drilling optimization and automation services; tubular inspection, repair and coating services; rope access inspection; instrumentation; measuring and monitoring; downhole and fishing tools; steerable technologies; hole openers; and drill bits. Wellbore Technologies focuses on oil and gas companies and supports drilling contractors, oilfield service companies, and oilfield equipment rental companies. Demand for the segment’s products and services depends on the level of oilfield drilling activity by oil and gas companies, drilling contractors, and oilfield service companies. Completion & Production Solutions The Company’s Completion & Production Solutions segment integrates technologies for well completions and oil and gas production. The segment designs, manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration units, injection units, flowline, and manifolds; well intervention, including coiled tubing units, coiled tubing, and wireline units and tools; onshore production, including composite pipe, surface transfer and progressive cavity pumps, and artificial lift systems; and, offshore production, including floating production systems and subsea production technologies. Completion & Production Solutions supports service companies and oil and gas companies. Demand for the segment’s products depends on the level of oilfield completions and workover activity by oilfield service companies and drilling contractors, and capital spending plans by oil and gas companies and oilfield service companies. Rig Technologies To achieve higher efficiencies and reduce costs in the current market, the Company combined the Rig Systems and Rig Aftermarket segments during the fourth quarter of 2017. See Note 2. The Company’s Rig Technologies segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. The segment designs, manufactures and sells land rigs, offshore drilling equipment packages, including installation and commissioning services, and drilling rig components that mechanize and automate the drilling process and rig functionality. Equipment and technologies in Rig Technologies include: substructures, derricks, and masts; cranes; pipe lifting, racking, rotating, and assembly systems; fluid transfer technologies, such as mud pumps; pressure control equipment, including blowout preventers; power transmission systems, including drives and generators; and rig instrumentation and control systems. The segment also provides spare parts, repair, and rentals as well as comprehensive remote equipment monitoring, technical support, field service, and customer training through an extensive network of aftermarket service and repair facilities strategically located in major areas of drilling operations around the world. Rig Technologies supports land and offshore drillers. Demand for the segment’s products depends on drilling contractors’ and oil and gas companies’ capital spending plans, specifically capital expenditures on rig construction and refurbishment; and secondarily on the overall level of oilfield drilling activity, which drives demand for spare parts, service, and repair for the segment’s large installed base of equipment. The Company did not have any customers with revenues greater than 10% of total revenue for the years ended December 31, 2017, 2016, or 2015. The Company’s revenue from rentals for 2017, 2016 and 2015 was 12%, 8% and 7%, respectively, of total revenue. Geographic Areas: The following table presents consolidated revenues by country based on sales destination of the products or services (in millions):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
United States |  | $ | 2,760 |  |  | $ | 1,961 |  |  | $ | 3,640 |
Brazil |  |  | 498 |  |  |  | 242 |  |  |  | 605 |
Saudi Arabia |  |  | 310 |  |  |  | 258 |  |  |  | 416 |
China |  |  | 298 |  |  |  | 557 |  |  |  | 1,623 |
Norway |  |  | 295 |  |  |  | 339 |  |  |  | 555 |
Canada |  |  | 286 |  |  |  | 217 |  |  |  | 365 |
United Kingdom |  |  | 279 |  |  |  | 299 |  |  |  | 634 |
South Korea |  |  | 261 |  |  |  | 495 |  |  |  | 1,835 |
United Arab Emirates |  |  | 223 |  |  |  | 334 |  |  |  | 532 |
Singapore |  |  | 188 |  |  |  | 340 |  |  |  | 1,035 |
Other Countries |  |  | 1,906 |  |  |  | 2,209 |  |  |  | 3,517 |
Total |  | $ | 7,304 |  |  | $ | 7,251 |  |  | $ | 14,757 |
The following table presents long-lived assets by country based on the location (in millions):
|  | December 31, |
|  | 2017 |  |  | 2016 |
United States |  | $ | 1,675 |  |  | $ | 1,810 |
Brazil |  |  | 269 |  |  |  | 281 |
United Kingdom |  |  | 140 |  |  |  | 137 |
Denmark |  |  | 128 |  |  |  | 120 |
South Korea |  |  | 97 |  |  |  | 94 |
Russia |  |  | 90 |  |  |  | 88 |
Canada |  |  | 84 |  |  |  | 82 |
Mexico |  |  | 71 |  |  |  | 77 |
United Arab Emirates |  |  | 65 |  |  |  | 90 |
Singapore |  |  | 59 |  |  |  | 63 |
Other Countries |  |  | 324 |  |  |  | 308 |
Total |  | $ | 3,002 |  |  | $ | 3,150 |
Business Segments: The following table presents selected financial data by business segment (in millions):
|  | Wellbore Technologies |  |  | Completion & Production Solutions |  |  | Rig Technologies |  |  | Eliminations and corporate costs (1) |  |  | Total |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 2,577 |  |  | $ | 2,672 |  |  | $ | 2,252 |  |  | $ | (197 | ) |  | $ | 7,304 |
Operating profit (loss) |  |  | (102 | ) |  |  | 98 |  |  |  | (14 | ) |  |  | (259 | ) |  |  | (277 | )
Capital expenditures |  |  | 99 |  |  |  | 69 |  |  |  | 16 |  |  |  | 8 |  |  |  | 192 |
Depreciation and amortization |  |  | 379 |  |  |  | 215 |  |  |  | 88 |  |  |  | 16 |  |  |  | 698 |
Goodwill |  |  | 2,956 |  |  |  | 2,122 |  |  |  | 1,149 |  |  |  | — |  |  |  | 6,227 |
Total assets |  |  | 7,848 |  |  |  | 5,782 |  |  |  | 4,625 |  |  |  | 1,951 |  |  |  | 20,206 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 2,199 |  |  | $ | 2,241 |  |  | $ | 3,110 |  |  | $ | (299 | ) |  | $ | 7,251 |
Operating profit |  |  | (770 | ) |  |  | (266 | ) |  |  | (1,033 | ) |  |  | (342 | ) |  |  | (2,411 | )
Capital expenditures |  |  | 124 |  |  |  | 61 |  |  |  | 24 |  |  |  | 75 |  |  |  | 284 |
Depreciation and amortization |  |  | 384 |  |  |  | 209 |  |  |  | 94 |  |  |  | 16 |  |  |  | 703 |
Goodwill |  |  | 2,874 |  |  |  | 2,058 |  |  |  | 1,135 |  |  |  | — |  |  |  | 6,067 |
Total assets |  |  | 7,911 |  |  |  | 5,765 |  |  |  | 5,327 |  |  |  | 2,137 |  |  |  | 21,140 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 3,718 |  |  | $ | 3,365 |  |  | $ | 8,279 |  |  | $ | (605 | ) |  | $ | 14,757 |
Operating profit |  |  | (1,573 | ) |  |  | 187 |  |  |  | 1,501 |  |  |  | (505 | ) |  |  | (390 | )
Capital expenditures |  |  | 180 |  |  |  | 87 |  |  |  | 91 |  |  |  | 95 |  |  |  | 453 |
Depreciation and amortization |  |  | 403 |  |  |  | 223 |  |  |  | 107 |  |  |  | 14 |  |  |  | 747 |
Goodwill |  |  | 2,874 |  |  |  | 1,997 |  |  |  | 2,109 |  |  |  | — |  |  |  | 6,980 |
Total assets |  |  | 8,766 |  |  |  | 5,916 |  |  |  | 9,227 |  |  |  | 2,061 |  |  |  | 25,970 |
(1) | Sales from one segment to another generally are priced at estimated equivalent commercial selling prices; however, segments originating an external sale are credited with the full profit to the Company. Eliminations and corporate costs include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation, as well as corporate costs not allocated to the segments. Intercompany transactions within each reporting segment are eliminated within each reporting segment. Also included in the eliminations and corporate costs column are capital expenditures and total assets related to corporate. Corporate assets consist primarily of cash and fixed assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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