XML 44 R31.htm IDEA: XBRL DOCUMENT

Revenue (Tables)

9 Months Ended

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