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Revenue | 6 Months Ended
--- | ---
Jun. 30, 2019
Revenue From Contract With Customer [Abstract] |
Revenue |
6. | Revenue
Disaggregation of Revenue The following table disaggregates the Company’s revenue by major geographic and market segment destination. In the table, North America includes the U.S. and Canada (in millions):
|  | Three Months Ended June 30, |
|  | 2019 |  |  | 2018 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 461 |  |  | $ | 282 |  |  | $ | 127 |  |  | $ | — |  |  | $ | 870 |  |  | $ | 449 |  |  | $ | 342 |  |  | $ | 143 |  |  | $ | — |  |  | $ | 934 |
International |  |  | 375 |  |  |  | 364 |  |  |  | 523 |  |  |  | — |  |  |  | 1,262 |  |  |  | 326 |  |  |  | 374 |  |  |  | 472 |  |  |  | — |  |  |  | 1,172 |
Eliminations |  |  | 14 |  |  |  | 17 |  |  |  | 21 |  |  |  | (52 | ) |  |  | — |  |  |  | 18 |  |  |  | 22 |  |  |  | 36 |  |  |  | (76 | ) |  |  | — |
|  | $ | 850 |  |  | $ | 663 |  |  | $ | 671 |  |  | $ | (52 | ) |  | $ | 2,132 |  |  | $ | 793 |  |  | $ | 738 |  |  | $ | 651 |  |  | $ | (76 | ) |  | $ | 2,106 |
Land |  | $ | 679 |  |  | $ | 456 |  |  | $ | 171 |  |  | $ | — |  |  | $ | 1,306 |  |  | $ | 660 |  |  | $ | 509 |  |  | $ | 208 |  |  | $ | — |  |  | $ | 1,377 |
Offshore |  |  | 157 |  |  |  | 190 |  |  |  | 479 |  |  |  | — |  |  |  | 826 |  |  |  | 115 |  |  |  | 207 |  |  |  | 407 |  |  |  | — |  |  |  | 729 |
Eliminations |  |  | 14 |  |  |  | 17 |  |  |  | 21 |  |  |  | (52 | ) |  |  | — |  |  |  | 18 |  |  |  | 22 |  |  |  | 36 |  |  |  | (76 | ) |  |  | — |
|  | $ | 850 |  |  | $ | 663 |  |  | $ | 671 |  |  | $ | (52 | ) |  | $ | 2,132 |  |  | $ | 793 |  |  | $ | 738 |  |  | $ | 651 |  |  | $ | (76 | ) |  | $ | 2,106 |
|  | Six Months Ended June 30, |
|  | 2019 |  |  | 2018 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 921 |  |  | $ | 551 |  |  | $ | 268 |  |  | $ | — |  |  | $ | 1,740 |  |  | $ | 864 |  |  | $ | 634 |  |  | $ | 278 |  |  |  |  |  |  | $ | 1,776 |
International |  |  | 706 |  |  |  | 660 |  |  |  | 966 |  |  |  | — |  |  |  | 2,332 |  |  |  | 608 |  |  |  | 732 |  |  |  | 785 |  |  |  |  |  |  |  | 2,125 |
Eliminations |  |  | 30 |  |  |  | 33 |  |  |  | 40 |  |  |  | (103 | ) |  |  | — |  |  |  | 32 |  |  |  | 42 |  |  |  | 71 |  |  |  | (145 | ) |  |  | — |
|  | $ | 1,657 |  |  | $ | 1,244 |  |  | $ | 1,274 |  |  | $ | (103 | ) |  | $ | 4,072 |  |  | $ | 1,504 |  |  | $ | 1,408 |  |  | $ | 1,134 |  |  | $ | (145 | ) |  | $ | 3,901 |
Land |  | $ | 1,344 |  |  | $ | 861 |  |  | $ | 386 |  |  | $ | — |  |  | $ | 2,591 |  |  | $ | 1,243 |  |  | $ | 955 |  |  | $ | 380 |  |  |  |  |  |  | $ | 2,578 |
Offshore |  |  | 283 |  |  |  | 350 |  |  |  | 848 |  |  |  | — |  |  |  | 1,481 |  |  |  | 229 |  |  |  | 411 |  |  |  | 683 |  |  |  |  |  |  |  | 1,323 |
Eliminations |  |  | 30 |  |  |  | 33 |  |  |  | 40 |  |  |  | (103 | ) |  |  | — |  |  |  | 32 |  |  |  | 42 |  |  |  | 71 |  |  |  | (145 | ) |  |  | — |
|  | $ | 1,657 |  |  | $ | 1,244 |  |  | $ | 1,274 |  |  | $ | (103 | ) |  | $ | 4,072 |  |  | $ | 1,504 |  |  | $ | 1,408 |  |  | $ | 1,134 |  |  | $ | (145 | ) |  | $ | 3,901 |
Performance Obligations Net revenue recognized from performance obligations partially satisfied in previous periods was $34 million and $47 million for the six months ended June 30, 2019 and June 30, 2018, respectively, primarily due to change orders. Remaining performance obligations represents the transaction price of firm orders for all revenue streams for which work has not been performed on contracts with original expected duration of one year or more. The Company does not disclose the remaining performance obligations of royalty contracts, service contracts for which there is a right to invoice, and short-term contracts that are expected to have a duration of one year or less. As of June 30, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was $2,545 million. The Company expects to recognize approximately 23 percent of the remaining performance obligations in 2019 and 77 percent thereafter. Contract Assets and Liabilities Contract assets include unbilled amounts when revenue recognized exceeds the amount billed to the customer under contracts where revenue is recognized over-time. Contract liabilities consist of customer billings in excess of revenue recognized under over-time contracts, customer advance payments and deferred revenue. The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions):
|  | Contract Assets |  |  | Contract Liabilities |
Balance at December 31, 2018 |  | $ | 565 |  |  | $ | 458 |
Billings |  |  | (478 | ) |  |  | 278 |
Revenue recognized |  |  | 557 |  |  |  | (279 | )
Currency translation adjustments and other |  |  | (59 | ) |  |  | (2 | )
Balance at June 30, 2019 |  | $ | 585 |  |  | $ | 455 |
There were no impairment losses recorded on contract assets for the periods ending June 30, 2019 or 2018.

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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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