Impairment and Other Items	9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment and Other Items	6. Impairment and Other Items Beginning February 2022, as a result of armed conflict in Ukraine, governments in the European Union, the United States, the United Kingdom, Switzerland, and other countries have enacted sanctions against Russia and Russian interests. Among other things, these sanctions include controls on the export, re-export, and in-country transfer in Russia of certain goods, supplies, and technologies, including some that we use in our business in Russia. They also impose restrictions on doing business with specially designated nationals, including certain state-owned Russian customers, certain financial institutions and certain individuals and restrict or prohibit new investments and business activities in Russia. As previously disclosed, in response to these sanctions, the Company ceased new investments and curtailed our activities in Russia. Further, during the third quarter of 2022, the Company sold its business in Belarus and committed to a plan to sell its businesses in Russia. The sale is subject to government approval under Russian law and other jurisdictions. As a result of these actions, $76 million and $125 million in impairment and other charges were recorded for the three and nine months ended September 30, 2022, respectively, of which $51 million relates to accumulated foreign currency translation adjustment losses for Russia and Belarus. The impairment and other charges are reported in “Cost of revenue” ($25 million and $74 million for the three and nine months ended September 30, 2022, respectively) and “Selling, general and administrative” ($51 million for both the three and nine months ended September 30, 2022) in our Consolidated Statements of Income (Loss). Charges were $31 million and $61 million for the three and nine months ended September 30, 2022, respectively, for Wellbore Technologies, $22 million and $39 million, respectively, for Completion & Production Solutions, and $23 million and $25 million, respectively, for Rig Technologies. As of September 30, 2023, all our Russian assets and liabilities were classified as held for sale and reported in “Prepaid and Other Current Assets” and “Accrued Liabilities”, respectively, in our Consolidated Balance Sheet. We expect to complete the sale of our Russian entities within the next 12 months, subject to regulatory approval. Total other items included in operating profit for the three months ended September 30, 2023 totaled $7 million, consisting of pre-tax charges for a voluntary early retirement program and other items of $13 million partially offset by credits related to gains on sale of previously reserved inventory of $6 million. Total other items included in operating profit for the nine months ended September 30, 2023 were ($4) million, consisting of pre-tax credits related to gains on sale of previously reserved inventory of $17 million partially offset by charges for a voluntary early retirement program and other items of $13 million. Total other items included in operating profit for the three months ended September 30, 2022, were $63 million (pre-tax costs of $76 million for the impairment and other charges discussed above partially offset by credits of ($13) million related to gains on sales of previously reserved inventory). Total other items included in operating profit for the nine months ended September 30, 2022, was $122 million (pre-tax charges of $125 million for the impairment and other charges discussed above, $23 million of severance, facility closure costs and restructure, partially offset by credits of ($26) million related to gains on sales of previously reserved inventory).

Impairment and Other Items

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Beginning February 2022, as a result of armed conflict in Ukraine, governments in the European Union, the United States, the United Kingdom, Switzerland, and other countries have enacted sanctions against Russia and Russian interests. Among other things, these sanctions include controls on the export, re-export, and in-country transfer in Russia of certain goods, supplies, and technologies, including some that we use in our business in Russia. They also impose restrictions on doing business with specially designated nationals, including certain state-owned Russian customers, certain financial institutions and certain individuals and restrict or prohibit new investments and business activities in Russia. As previously disclosed, in response to these sanctions, the Company ceased new investments and curtailed our activities in Russia. Further, during the third quarter of 2022, the Company sold its business in Belarus and committed to a plan to sell its businesses in Russia. The sale is subject to government approval under Russian law and other jurisdictions.

As a result of these actions, $76 million and $125 million in impairment and other charges were recorded for the three and nine months ended September 30, 2022, respectively, of which $51 million relates to accumulated foreign currency translation adjustment losses for Russia and Belarus. The impairment and other charges are reported in “Cost of revenue” ($25 million and $74 million for the three and nine months ended September 30, 2022, respectively) and “Selling, general and administrative” ($51 million for both the three and nine months ended September 30, 2022) in our Consolidated Statements of Income (Loss). Charges were $31 million and $61 million for the three and nine months ended September 30, 2022, respectively, for Wellbore Technologies, $22 million and $39 million, respectively, for Completion & Production Solutions, and $23 million and $25 million, respectively, for Rig Technologies. As of September 30, 2023, all our Russian assets and liabilities were classified as held for sale and reported in “Prepaid and Other Current Assets” and “Accrued Liabilities”, respectively, in our Consolidated Balance Sheet. We expect to complete the sale of our Russian entities within the next 12 months, subject to regulatory approval.

Total other items included in operating profit for the three months ended September 30, 2023 totaled $7 million, consisting of pre-tax charges for a voluntary early retirement program and other items of $13 million partially offset by credits related to gains on sale of previously reserved inventory of $6 million. Total other items included in operating profit for the nine months ended September 30, 2023 were ($4) million, consisting of pre-tax credits related to gains on sale of previously reserved inventory of $17 million partially offset by charges for a voluntary early retirement program and other items of $13 million. Total other items included in operating profit for the three months ended September 30, 2022, were $63 million (pre-tax costs of $76 million for the impairment and other charges discussed above partially offset by credits of ($13) million related to gains on sales of previously reserved inventory). Total other items included in operating profit for the nine months ended September 30, 2022, was $122 million (pre-tax charges of $125 million for the impairment and other charges discussed above, $23 million of severance, facility closure costs and restructure, partially offset by credits of ($26) million related to gains on sales of previously reserved inventory).