XML 28 R14.htm IDEA: XBRL DOCUMENT
v3.20.2

Revenue | 9 Months Ended
--- | ---
Sep. 30, 2020
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 September 30, |
|  | 2020 |  |  | 2019 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |
North America |  | $ | 132 |  |  | $ | 168 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 354 |  |  | $ | 422 |  |  | $ | 295 |  |  | $ | 113 |  |  | $ | — |  |  | $ | 830 |
International |  |  | 217 |  |  |  | 424 |  |  |  | 389 |  |  |  | — |  |  |  | 1,030 |  |  |  | 355 |  |  |  | 420 |  |  |  | 521 |  |  |  | — |  |  |  | 1,296 |
Eliminations |  |  | 12 |  |  |  | 9 |  |  |  | 6 |  |  |  | (27 | ) |  |  | — |  |  |  | 16 |  |  |  | 13 |  |  |  | 15 |  |  |  | (44 | ) |  |  | — |
|  | $ | 361 |  |  | $ | 601 |  |  | $ | 449 |  |  | $ | (27 | ) |  | $ | 1,384 |  |  | $ | 793 |  |  | $ | 728 |  |  | $ | 649 |  |  | $ | (44 | ) |  | $ | 2,126 |
Land |  | $ | 226 |  |  | $ | 346 |  |  | $ | 103 |  |  | $ | — |  |  | $ | 675 |  |  | $ | 616 |  |  | $ | 479 |  |  | $ | 151 |  |  | $ | — |  |  | $ | 1,246 |
Offshore |  |  | 123 |  |  |  | 246 |  |  |  | 340 |  |  |  | — |  |  |  | 709 |  |  |  | 161 |  |  |  | 236 |  |  |  | 483 |  |  |  | — |  |  |  | 880 |
Eliminations |  |  | 12 |  |  |  | 9 |  |  |  | 6 |  |  |  | (27 | ) |  |  | — |  |  |  | 16 |  |  |  | 13 |  |  |  | 15 |  |  |  | (44 | ) |  |  | — |
|  | $ | 361 |  |  | $ | 601 |  |  | $ | 449 |  |  | $ | (27 | ) |  | $ | 1,384 |  |  | $ | 793 |  |  | $ | 728 |  |  | $ | 649 |  |  | $ | (44 | ) |  | $ | 2,126 |
|  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |
North America |  | $ | 676 |  |  | $ | 574 |  |  | $ | 184 |  |  | $ | — |  |  | $ | 1,434 |  |  | $ | 1,343 |  |  | $ | 846 |  |  | $ | 381 |  |  | $ | — |  |  | $ | 2,570 |
International |  |  | 776 |  |  |  | 1,280 |  |  |  | 1,273 |  |  |  | — |  |  |  | 3,329 |  |  |  | 1,061 |  |  |  | 1,080 |  |  |  | 1,487 |  |  |  | — |  |  |  | 3,628 |
Eliminations |  |  | 42 |  |  |  | 33 |  |  |  | 25 |  |  |  | (100 | ) |  |  | — |  |  |  | 46 |  |  |  | 46 |  |  |  | 55 |  |  |  | (147 | ) |  |  | — |
|  | $ | 1,494 |  |  | $ | 1,887 |  |  | $ | 1,482 |  |  | $ | (100 | ) |  | $ | 4,763 |  |  | $ | 2,450 |  |  | $ | 1,972 |  |  | $ | 1,923 |  |  | $ | (147 | ) |  | $ | 6,198 |
Land |  | $ | 1,051 |  |  | $ | 1,107 |  |  | $ | 367 |  |  | $ | — |  |  | $ | 2,525 |  |  | $ | 1,960 |  |  | $ | 1,340 |  |  | $ | 537 |  |  | $ | — |  |  | $ | 3,837 |
Offshore |  |  | 401 |  |  |  | 747 |  |  |  | 1,090 |  |  |  | — |  |  |  | 2,238 |  |  |  | 444 |  |  |  | 586 |  |  |  | 1,331 |  |  |  | — |  |  |  | 2,361 |
Eliminations |  |  | 42 |  |  |  | 33 |  |  |  | 25 |  |  |  | (100 | ) |  |  | — |  |  |  | 46 |  |  |  | 46 |  |  |  | 55 |  |  |  | (147 | ) |  |  | — |
|  | $ | 1,494 |  |  | $ | 1,887 |  |  | $ | 1,482 |  |  | $ | (100 | ) |  | $ | 4,763 |  |  | $ | 2,450 |  |  | $ | 1,972 |  |  | $ | 1,923 |  |  | $ | (147 | ) |  | $ | 6,198 |
Performance Obligations Net revenue recognized from performance obligations satisfied in previous periods was $15 million for the three months ended September 30, 2020, 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. We do 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 September 30, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $3,718 million. The Company expects to recognize approximately $288 million in revenue for the remaining performance obligations in 2020 and $3,430 million in 2021 and 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, 2019 |  | $ | 643 |  |  | $ | 427 |
Provision |  |  | (2 | ) |  |  | — |
Billings |  |  | (692 | ) |  |  | 924 |
Revenue recognized |  |  | 655 |  |  |  | (946 | )
Currency translation adjustments and other |  |  | (49 | ) |  |  | (34 | )
Balance at September 30, 2020 |  | $ | 555 |  |  | $ | 371 |

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration