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Revenue (Tables)

6 Months Ended

Jun. 30, 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 June 30,
		2023																				2022
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Elims.				Total				Technologies				Solutions				Technologies				Elims.				Total
North America		$	408			$	327			$	110			$	—			$	845			$	346			$	236			$	120			$	—			$	702
International			363				402				483				—				1,248				305				391				329				—				1,025
Eliminations			33				24				13				(70	)			—				15				12				13				(40	)			—
		$	804			$	753			$	606			$	(70	)		$	2,093			$	666			$	639			$	462			$	(40	)		$	1,727
Land		$	577			$	459			$	136			$	—			$	1,172			$	518			$	387			$	115			$	—			$	1,020
Offshore			194				270				457				—				921				133				240				334				—				707
Eliminations			33				24				13				(70	)			—				15				12				13				(40	)			—
		$	804			$	753			$	606			$	(70	)		$	2,093			$	666			$	639			$	462			$	(40	)		$	1,727

		Six Months Ended June 30,
		2023																				2022
						Completion																				Completion
		Wellbore				& Production				Rig												Wellbore				& Production				Rig
		Technologies				Solutions				Technologies				Elims.				Total				Technologies				Solutions				Technologies				Elims.				Total
North America		$	791			$	654			$	214			$	—			$	1,659			$	652			$	449			$	208			$	—			$	1,309
International			706				774				916				—				2,396				595				699				672				—				1,966
Eliminations			52				43				26				(121	)			—				27				21				23				(71	)			—
		$	1,549			$	1,471			$	1,156			$	(121	)		$	4,055			$	1,274			$	1,169			$	903			$	(71	)		$	3,275
Land		$	1,130			$	897			$	327			$	—			$	2,354			$	952			$	709			$	238			$	—			$	1,899
Offshore			367				531				803				—				1,701				295				439				642				—				1,376
Eliminations			52				43				26				(121	)			—				27				21				23				(71	)			—
		$	1,549			$	1,471			$	1,156			$	(121	)		$	4,055			$	1,274			$	1,169			$	903			$	(71	)		$	3,275

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			(668	)			548
Revenue recognized			655				(514	)
Currency translation adjustments and other			32				16
Balance at June 30, 2023		$	704			$	494

Summary of Changes Carrying Amount of Allowance for Credit Losses

The changes in the carrying amount of the allowance for credit losses are as follows (in millions):

Balance at December 31, 2022		$	71
Provision for expected credit losses			16
Recoveries collected			(7	)
Other			(4	)
Balance at June 30, 2023		$	76

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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