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Revenue Recognition
 12 Months Ended
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