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Revenue (Tables)

9 Months Ended

Sep. 30, 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 September 30,
		2021																				2020
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Elims.				Total				Technologies				Solutions				Technologies				Elims.				Total
North America		$	227			$	192			$	70			$	—			$	489			$	132			$	168			$	54			$	—			$	354
International			264				276				312				—				852				217				424				389				—				1,030
Intercompany			16				10				8				(34	)			—				12				9				6				(27	)			—
		$	507			$	478			$	390			$	(34	)		$	1,341			$	361			$	601			$	449			$	(27	)		$	1,384
Land		$	370			$	317			$	85			$	—			$	772			$	226			$	346			$	103			$	—			$	675
Offshore			121				151				297				—				569				123				246				340				—				709
Intercompany			16				10				8				(34	)			—				12				9				6				(27	)			—
		$	507			$	478			$	390			$	(34	)		$	1,341			$	361			$	601			$	449			$	(27	)		$	1,384

		Nine Months Ended September 30,
		2021																				2020
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Elims.				Total				Technologies				Solutions				Technologies				Elims.				Total
North America		$	630			$	563			$	194			$	—			$	1,387			$	676			$	574			$	184			$	—			$	1,434
International			708				818				1,094				—				2,620				776				1,280				1,273				—				3,329
Intercompany			45				33				20				(98	)			—				42				33				25				(100	)			—
		$	1,383			$	1,414			$	1,308			$	(98	)		$	4,007			$	1,494			$	1,887			$	1,482			$	(100	)		$	4,763
Land		$	994			$	911			$	289			$	—			$	2,194			$	1,051			$	1,107			$	367			$	—			$	2,525
Offshore			344				470				999				—				1,813				401				747				1,090				—				2,238
Intercompany			45				33				20				(98	)			—				42				33				25				(100	)			—
		$	1,383			$	1,414			$	1,308			$	(98	)		$	4,007			$	1,494			$	1,887			$	1,482			$	(100	)		$	4,763

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

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, 2020		$	611			$	354
Provision			1				—
Billings			(627	)			678
Revenue recognized			573				(588	)
Currency translation adjustments and other			(92	)			(19	)
Balance at September 30, 2021		$	466			$	425

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- 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=123351226&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=123351226&loc=SL49130545-203045

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- References

No definition available.

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