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Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segments

5. Segments

Financial results by operating segment are as follows (in millions):

		Three Months Ended
		March 31,
		2019				2018
Revenue:
Wellbore Technologies		$	807			$	711
Completion & Production Solutions			581				670
Rig Technologies			603				483
Eliminations			(51	)			(69	)
Total revenue		$	1,940			$	1,795
Operating profit (loss):
Wellbore Technologies		$	19				12
Completion & Production Solutions			(35	)			16
Rig Technologies			31				18
Eliminations and corporate costs			(63	)			(47	)
Total operating profit (loss)		$	(48	)		$	(1	)
Operating profit (loss)%:
Wellbore Technologies			2.4	%			1.7	%
Completion & Production Solutions			(6.0	%)			2.4	%
Rig Technologies			5.1	%			3.7	%
Total operating profit (loss)%			(2.5	%)			(0.1	%)

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

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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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