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v3.23.3

Revenue (Tables) | 9 Months Ended
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Sep. 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 September 30, |
|  | 2023 |  |  | 2022 |
|  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |
North America |  | $ | 375 |  |  | $ | 296 |  |  | $ | 126 |  |  | $ | — |  |  | $ | 797 |  |  | $ | 385 |  |  | $ | 284 |  |  | $ | 101 |  |  | $ | — |  |  | $ | 770 |
International |  |  | 401 |  |  |  | 437 |  |  |  | 550 |  |  |  | — |  |  |  | 1,388 |  |  |  | 338 |  |  |  | 381 |  |  |  | 400 |  |  |  | — |  |  |  | 1,119 |
Eliminations |  |  | 23 |  |  |  | 27 |  |  |  | 10 |  |  |  | (60 | ) |  |  | — |  |  |  | 18 |  |  |  | 16 |  |  |  | 10 |  |  |  | (44 | ) |  |  | — |
|  | $ | 799 |  |  | $ | 760 |  |  | $ | 686 |  |  | $ | (60 | ) |  | $ | 2,185 |  |  | $ | 741 |  |  | $ | 681 |  |  | $ | 511 |  |  | $ | (44 | ) |  | $ | 1,889 |
Land |  | $ | 576 |  |  | $ | 432 |  |  | $ | 166 |  |  | $ | — |  |  | $ | 1,174 |  |  | $ | 551 |  |  | $ | 413 |  |  | $ | 139 |  |  | $ | — |  |  | $ | 1,103 |
Offshore |  |  | 200 |  |  |  | 301 |  |  |  | 510 |  |  |  | — |  |  |  | 1,011 |  |  |  | 172 |  |  |  | 252 |  |  |  | 362 |  |  |  | — |  |  |  | 786 |
Eliminations |  |  | 23 |  |  |  | 27 |  |  |  | 10 |  |  |  | (60 | ) |  |  | — |  |  |  | 18 |  |  |  | 16 |  |  |  | 10 |  |  |  | (44 | ) |  |  | — |
|  | $ | 799 |  |  | $ | 760 |  |  | $ | 686 |  |  | $ | (60 | ) |  | $ | 2,185 |  |  | $ | 741 |  |  | $ | 681 |  |  | $ | 511 |  |  | $ | (44 | ) |  | $ | 1,889 |
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
|  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Completion |  |  |  |  |  |  |  |  |  |
|  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |  |  | Wellbore |  |  | & Production |  |  | Rig |  |  |  |  |  |  |
|  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |  |  | Technologies |  |  | Solutions |  |  | Technologies |  |  | Elims. |  |  | Total |
North America |  | $ | 1,166 |  |  | $ | 950 |  |  | $ | 340 |  |  | $ | — |  |  | $ | 2,456 |  |  | $ | 1,037 |  |  | $ | 733 |  |  | $ | 309 |  |  | $ | — |  |  | $ | 2,079 |
International |  |  | 1,107 |  |  |  | 1,211 |  |  |  | 1,466 |  |  |  | — |  |  |  | 3,784 |  |  |  | 933 |  |  |  | 1,080 |  |  |  | 1,072 |  |  |  | — |  |  |  | 3,085 |
Eliminations |  |  | 75 |  |  |  | 70 |  |  |  | 36 |  |  |  | (181 | ) |  |  | — |  |  |  | 45 |  |  |  | 37 |  |  |  | 33 |  |  |  | (115 | ) |  |  | — |
|  | $ | 2,348 |  |  | $ | 2,231 |  |  | $ | 1,842 |  |  | $ | (181 | ) |  | $ | 6,240 |  |  | $ | 2,015 |  |  | $ | 1,850 |  |  | $ | 1,414 |  |  | $ | (115 | ) |  | $ | 5,164 |
Land |  | $ | 1,706 |  |  | $ | 1,329 |  |  | $ | 493 |  |  | $ | — |  |  | $ | 3,528 |  |  | $ | 1,503 |  |  | $ | 1,122 |  |  | $ | 377 |  |  | $ | — |  |  | $ | 3,002 |
Offshore |  |  | 567 |  |  |  | 832 |  |  |  | 1,313 |  |  |  | — |  |  |  | 2,712 |  |  |  | 467 |  |  |  | 691 |  |  |  | 1,004 |  |  |  | — |  |  |  | 2,162 |
Eliminations |  |  | 75 |  |  |  | 70 |  |  |  | 36 |  |  |  | (181 | ) |  |  | — |  |  |  | 45 |  |  |  | 37 |  |  |  | 33 |  |  |  | (115 | ) |  |  | — |
|  | $ | 2,348 |  |  | $ | 2,231 |  |  | $ | 1,842 |  |  | $ | (181 | ) |  | $ | 6,240 |  |  | $ | 2,015 |  |  | $ | 1,850 |  |  | $ | 1,414 |  |  | $ | (115 | ) |  | $ | 5,164 |
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 |
Billings |  |  | (1,014 | ) |  |  | 918 |
Revenue recognized |  |  | 986 |  |  |  | (875 | )
Currency translation adjustments and other |  |  | 18 |  |  |  | 1 |
Balance at September 30, 2023 |  | $ | 675 |  |  | $ | 488 |
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 |  |  | 21 |
Recoveries collected |  |  | (11 | )
Other |  |  | (4 | )
Balance at September 30, 2023 |  | $ | 77 |

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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