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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Identified, by Segment

Goodwill is identified by segment as follows (in millions):

 

 

 

Wellbore Technologies

 

 

Completion & Production Solutions

 

 

Rig Technologies

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2020

 

 

308

 

 

 

473

 

 

 

712

 

 

 

1,493

 

Goodwill acquired during period

 

 

34

 

 

 

—

 

 

 

—

 

 

 

34

 

Balance at December 31, 2021

 

$

342

 

 

$

473

 

 

$

712

 

 

$

1,527

 

Goodwill acquired during period

 

 

3

 

 

 

7

 

 

 

—

 

 

 

10

 

Adjustment during the measurement period of assets acquired

 

 

(32

)

 

 

—

 

 

 

—

 

 

 

(32

)

Balance at December 31, 2022 (1)

 

$

313

 

 

$

480

 

 

$

712

 

 

$

1,505

 

 

(1)
Accumulated goodwill impairment was $7,261 million as of December 31, 2022.
Identified Intangible Assets, by Segment

The net book values of identified intangible assets are identified by segment as follows (in millions):

 

 

 

Wellbore Technologies

 

 

Completion & Production Solutions

 

 

Rig Technologies

 

 

Total

 

Balance at December 31, 2020

 

$

253

 

 

$

47

 

 

$

227

 

 

$

527

 

Additions to intangible assets

 

 

22

 

 

 

—

 

 

 

—

 

 

 

22

 

Amortization

 

 

(10

)

 

 

(5

)

 

 

(28

)

 

 

(43

)

Currency translation adjustments

 

 

(1

)

 

 

—

 

 

 

(2

)

 

 

(3

)

Balance at December 31, 2021

 

$

264

 

 

$

42

 

 

$

197

 

 

$

503

 

Additions to intangible assets

 

 

3

 

 

 

—

 

 

 

—

 

 

 

3

 

Adjustment during the measurement period of assets acquired

 

 

32

 

 

 

—

 

 

 

—

 

 

 

32

 

Amortization

 

 

(17

)

 

 

(5

)

 

 

(29

)

 

 

(51

)

Currency translation adjustments

 

 

—

 

 

 

—

 

 

 

3

 

 

 

3

 

Balance at December 31, 2022

 

$

282

 

 

$

37

 

 

$

171

 

 

$

490

 
Identified Intangible Assets, by Major Classification

Identified intangible assets by major classification consist of the following (in millions):

 

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net Book Value

 

December 31, 2021:

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

471

 

 

$

(323

)

 

$

148

 

Trademarks

 

 

174

 

 

 

(122

)

 

 

52

 

Patents

 

 

145

 

 

 

(59

)

 

 

86

 

Indefinite-lived trade names

 

 

196

 

 

 

—

 

 

 

196

 

Other

 

 

82

 

 

 

(61

)

 

 

21

 

Total identified intangibles

 

$

1,068

 

 

$

(565

)

 

$

503

 

December 31, 2022:

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

499

 

 

$

(351

)

 

$

148

 

Trademarks

 

 

173

 

 

 

(127

)

 

 

46

 

Patents

 

 

128

 

 

 

(66

)

 

 

62

 

Indefinite-lived trade names

 

 

196

 

 

 

—

 

 

 

196

 

Other

 

 

104

 

 

 

(66

)

 

 

38

 

Total identified intangibles

 

$

1,100

 

 

$

(610

)

 

$

490