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Revenue | 12 Months Ended
--- | ---
Dec. 31, 2021
Revenue From Contract With Customer [Abstract] |
Revenue |
1 4. | Revenue
Disaggregation of Revenue The following tables disaggregate our revenue by destinations, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. In the tables below, North America includes only the U.S. and Canada (in millions):
|  | Year Ended December 31, 2021 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 904 |  |  | $ | 789 |  |  | $ | 275 |  |  | $ | — |  |  | $ | 1,968 |
International |  |  | 991 |  |  |  | 1,131 |  |  |  | 1,434 |  |  |  | — |  |  |  | 3,556 |
Eliminations |  |  | 64 |  |  |  | 43 |  |  |  | 30 |  |  |  | (137 | ) |  |  | — |
|  | $ | 1,959 |  |  | $ | 1,963 |  |  | $ | 1,739 |  |  | $ | (137 | ) |  | $ | 5,524 |
Land |  | $ | 1,423 |  |  | $ | 1,250 |  |  | $ | 390 |  |  | $ | — |  |  | $ | 3,063 |
Offshore |  |  | 472 |  |  |  | 670 |  |  |  | 1,319 |  |  |  | — |  |  |  | 2,461 |
Eliminations |  |  | 64 |  |  |  | 43 |  |  |  | 30 |  |  |  | (137 | ) |  |  | — |
|  | $ | 1,959 |  |  | $ | 1,963 |  |  | $ | 1,739 |  |  | $ | (137 | ) |  | $ | 5,524 |
|  | Year Ended December 31, 2020 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 824 |  |  | $ | 751 |  |  | $ | 227 |  |  | $ | — |  |  | $ | 1,802 |
International |  |  | 988 |  |  |  | 1,639 |  |  |  | 1,661 |  |  |  | — |  |  |  | 4,288 |
Eliminations |  |  | 55 |  |  |  | 43 |  |  |  | 31 |  |  |  | (129 | ) |  |  | — |
|  | $ | 1,867 |  |  | $ | 2,433 |  |  | $ | 1,919 |  |  | $ | (129 | ) |  | $ | 6,090 |
Land |  | $ | 1,308 |  |  | $ | 1,426 |  |  | $ | 473 |  |  | $ | — |  |  | $ | 3,207 |
Offshore |  |  | 504 |  |  |  | 964 |  |  |  | 1,415 |  |  |  | — |  |  |  | 2,883 |
Eliminations |  |  | 55 |  |  |  | 43 |  |  |  | 31 |  |  |  | (129 | ) |  |  | — |
|  | $ | 1,867 |  |  | $ | 2,433 |  |  | $ | 1,919 |  |  | $ | (129 | ) |  | $ | 6,090 |
|  | Year Ended December 31, 2019 |
|  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Eliminations |  |  | Total |
North America |  | $ | 1,710 |  |  | $ | 1,122 |  |  | $ | 529 |  |  | $ | — |  |  | $ | 3,361 |
International |  |  | 1,441 |  |  |  | 1,590 |  |  |  | 2,087 |  |  |  | — |  |  |  | 5,118 |
Eliminations |  |  | 63 |  |  |  | 59 |  |  |  | 66 |  |  |  | (188 | ) |  |  | — |
|  | $ | 3,214 |  |  | $ | 2,771 |  |  | $ | 2,682 |  |  | $ | (188 | ) |  | $ | 8,479 |
Land |  | $ | 2,531 |  |  | $ | 1,808 |  |  | $ | 758 |  |  | $ | — |  |  | $ | 5,097 |
Offshore |  |  | 620 |  |  |  | 904 |  |  |  | 1,858 |  |  |  | — |  |  |  | 3,382 |
Eliminations |  |  | 63 |  |  |  | 59 |  |  |  | 66 |  |  |  | (188 | ) |  |  | — |
|  | $ | 3,214 |  |  | $ | 2,771 |  |  | $ | 2,682 |  |  | $ | (188 | ) |  | $ | 8,479 |
The Company did not have any customers with revenues greater than 10% of total revenue for the years ended December 31, 2021, 2020, or 2019. 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. There were no impairment losses recorded on contract assets for the years ending December 31, 2021, 2020 and 2019. Contract liabilities consist of advance payments, billings in excess of revenue recognized 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, 2020 |  | $ | 611 |  |  | $ | 354 |
Provision, net |  |  | 1 |  |  |  | — |
Billings |  |  | (866 | ) |  |  | 933 |
Revenue recognized |  |  | 806 |  |  |  | (818 | )
Currency translation adjustments and other |  |  | (91 | ) |  |  | (77 | )
Balance at December 31, 2021 |  | $ | 461 |  |  | $ | 392 |
Allowance for Credit Losses The Company estimates its allowance for credit losses using information about past events, current conditions and risk characteristics of each customer, and forecasts relevant to assessing risk associated with the collectability of receivables and contract assets. The Company’s customer base, mostly in the oil and gas industry, have generally similar collectability risk characteristics, although larger and state-owned customers may have lower risk than smaller independent customers. As of December 31, 2021, and December 31, 2020, the allowance for credit losses totaled $89 million and $102 million, respectively.

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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://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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&loc=SL49130554-203045 + Details
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