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Revenue (Tables)

3 Months Ended

Mar. 31, 2021

Revenue From Contract With Customer [Abstract]

Summary of Disaggregate Revenue by Destinations

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 March 31,
		2021																				2020
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Eliminations				Total				Technologies				Solutions				Technologies				Eliminations				Total
North America		$	188			$	162			$	55			$	—			$	405			$	361			$	225			$	77			$	—			$	663
International			211				264				369				—				844				313				437				470				—				1,220
Eliminations			14				13				7				(34	)			—				17				13				10				(40	)			—
		$	413			$	439			$	431			$	(34	)		$	1,249			$	691			$	675			$	557			$	(40	)		$	1,883
Land		$	294			$	265			$	91			$	—			$	650			$	529			$	416			$	151			$	—			$	1,096
Offshore			105				161				333				—				599				145				246				396				—				787
Eliminations			14				13				7				(34	)			—				17				13				10				(40	)			—
		$	413			$	439			$	431			$	(34	)		$	1,249			$	691			$	675			$	557			$	(40	)		$	1,883

Summary of Changes in Carrying Amount of Net Contract Assets and Contract Liabilities

The changes in the carrying amount of net contract assets and contract liabilities are as follows (in millions):

		Contract Assets				Contract Liabilities
Balance at December 31, 2020		$	611			$	354
Provision			(1	)			-
Billings			(226	)			204
Revenue recognized			214				(205	)
Currency translation adjustments and other			(21	)			(4	)
Balance at March 31, 2021		$	577			$	349

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

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- References

No definition available.

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