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Revenue Recognition | 12 Months Ended
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Dec. 31, 2018
Revenue From Contract With Customer [Abstract] |
Revenue Recognition |
13. | Revenue
Disaggregation of Revenue The following tables disaggregate our revenue by destinations, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. In the tables below, North America includes only the U.S. and Canada (in millions):
|  | Year Ended December 31, 2018 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 1,817 |  |  | $ | 1,302 |  |  | $ | 663 |  |  | $ | — |  |  | $ | 3,782 |
International |  |  | 1,345 |  |  |  | 1,543 |  |  |  | 1,783 |  |  |  | — |  |  |  | 4,671 |
Eliminations |  |  | 73 |  |  |  | 86 |  |  |  | 129 |  |  |  | (288 | ) |  |  | — |
|  | $ | 3,235 |  |  | $ | 2,931 |  |  | $ | 2,575 |  |  | $ | (288 | ) |  | $ | 8,453 |
Land |  | $ | 2,683 |  |  | $ | 1,985 |  |  | $ | 854 |  |  | $ | — |  |  | $ | 5,522 |
Offshore |  |  | 479 |  |  |  | 860 |  |  |  | 1,592 |  |  |  | — |  |  |  | 2,931 |
Eliminations |  |  | 73 |  |  |  | 86 |  |  |  | 129 |  |  |  | (288 | ) |  |  | — |
|  | $ | 3,235 |  |  | $ | 2,931 |  |  | $ | 2,575 |  |  | $ | (288 | ) |  | $ | 8,453 |
|  | Year Ended December 31, 2017 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 1,408 |  |  | $ | 1,093 |  |  | $ | 545 |  |  | $ | — |  |  | $ | 3,046 |
International |  |  | 1,116 |  |  |  | 1,528 |  |  |  | 1,614 |  |  |  | — |  |  |  | 4,258 |
Eliminations |  |  | 53 |  |  |  | 51 |  |  |  | 93 |  |  |  | (197 | ) |  |  | — |
|  | $ | 2,577 |  |  | $ | 2,672 |  |  | $ | 2,252 |  |  | $ | (197 | ) |  | $ | 7,304 |
Land |  | $ | 2,047 |  |  | $ | 1,752 |  |  | $ | 740 |  |  | $ | — |  |  | $ | 4,539 |
Offshore |  |  | 477 |  |  |  | 869 |  |  |  | 1,419 |  |  |  | — |  |  |  | 2,765 |
Eliminations |  |  | 53 |  |  |  | 51 |  |  |  | 93 |  |  |  | (197 | ) |  |  | — |
|  | $ | 2,577 |  |  | $ | 2,672 |  |  | $ | 2,252 |  |  | $ | (197 | ) |  | $ | 7,304 |
|  | Year Ended December 31, 2016 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 925 |  |  | $ | 793 |  |  | $ | 460 |  |  | $ | — |  |  | $ | 2,178 |
International |  |  | 1,104 |  |  |  | 1,404 |  |  |  | 2,565 |  |  |  | — |  |  |  | 5,073 |
Eliminations |  |  | 170 |  |  |  | 44 |  |  |  | 85 |  |  |  | (299 | ) |  |  | — |
|  | $ | 2,199 |  |  | $ | 2,241 |  |  | $ | 3,110 |  |  | $ | (299 | ) |  | $ | 7,251 |
Land |  | $ | 1,497 |  |  | $ | 1,342 |  |  | $ | 819 |  |  | $ | — |  |  | $ | 3,658 |
Offshore |  |  | 532 |  |  |  | 855 |  |  |  | 2,206 |  |  |  | — |  |  |  | 3,593 |
Eliminations |  |  | 170 |  |  |  | 44 |  |  |  | 85 |  |  |  | (299 | ) |  |  | — |
|  | $ | 2,199 |  |  | $ | 2,241 |  |  | $ | 3,110 |  |  | $ | (299 | ) |  | $ | 7,251 |
The Company did not have any customers with revenues greater than 10% of total revenue for the years ended December 31, 2018, 2017, or 2016. Contract Assets and Liabilities Contract assets include unbilled amounts resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not only subject to the passage of time. There were no impairment losses recorded on contract assets for the years ending December 31, 2018 and 2017. Contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue. For the balance at December 31, 2017, we reclassified $240 million of advance payments and deferred revenue from accrued liabilities to contract liabilities to conform with the 2018 presentation. The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions):
Contract Assets |  |  |
Balance at December 31, 2017 | $ | 495 |
Additions and Milestone Billings |  | (948 | )
Revenue Recognized |  | 1,094 |
Currency translation adjustments and other |  | (76 | )
Balance at December 31, 2018 | $ | 565 |
Contract Liabilities |  |  |
Balance at December 31, 2017 | $ | 519 |
Additions and Milestone Billings |  | 861 |
Revenue Recognized |  | (798 | )
Currency translation adjustments and other |  | (124 | )
Balance at December 31, 2018 | $ | 458 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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