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Revenue (Tables)

3 Months Ended

Mar. 31, 2023

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,
		2023																				2022
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Elims.				Total				Technologies				Solutions				Technologies				Elims.				Total
North America		$	383			$	327			$	104			$	—			$	814			$	306			$	213			$	88			$	—			$	607
International			343				372				433				—				1,148				290				308				343				—				941
Eliminations			19				19				13				(51	)			—				12				9				10				(31	)			—
		$	745			$	718			$	550			$	(51	)		$	1,962			$	608			$	530			$	441			$	(31	)		$	1,548
Land		$	553			$	438			$	191			$	—			$	1,182			$	434			$	322			$	123			$	—			$	879
Offshore			173				261				346				—				780				162				199				308				—				669
Eliminations			19				19				13				(51	)			—				12				9				10				(31	)			—
		$	745			$	718			$	550			$	(51	)		$	1,962			$	608			$	530			$	441			$	(31	)		$	1,548

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, 2022		$	685			$	444
Provision			—				—
Billings			(378	)			273
Revenue recognized			317				(273	)
Currency translation adjustments and other			13				5
Balance at March 31, 2023		$	637			$	449

Summary of Allowance for Credit Losses

As of March 31, 2023, the allowance for credit losses totaled $71 million.

Balance at December 31, 2022		$	71
Provision for expected credit losses			9
Recoveries collected			(6	)
Other			(3	)
Balance at March 31, 2023		$	71

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

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- 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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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