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Business Segments

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Business Segments

5. Business Segments

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2018				2017				2018				2017
Revenue:
Wellbore Technologies		$	793			$	614			$	1,504			$	1,169
Completion & Production Solutions			738				652				1,408				1,300
Rig Technologies			651				546				1,134				1,128
Eliminations			(76	)			(53	)			(145	)			(97	)
Total revenue		$	2,106			$	1,759			$	3,901			$	3,500
Operating profit (loss):
Wellbore Technologies		$	38			$	(24	)		$	50			$	(81	)
Completion & Production Solutions			40				27				56				35
Rig Technologies			62				6				80				19
Eliminations and corporate costs			(88	)			(71	)			(135	)			(132	)
Total operating profit (loss)		$	52			$	(62	)		$	51			$	(159	)
Operating profit (loss)%:
Wellbore Technologies			4.8	%			(3.9	%)			3.3	%			(6.9	%)
Completion & Production Solutions			5.4	%			4.1	%			4.0	%			2.7	%
Rig Technologies			9.5	%			1.1	%			7.1	%			1.7	%
Total operating profit (loss)%			2.5	%			(3.5	%)			1.3	%			(4.5	%)

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 include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation. Intercompany transactions within each reporting segment are eliminated within each reporting segment.

Included in operating profit (loss) are other items primarily related to costs associated with severance, facility closures, and credits for the reversals of certain accruals.

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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