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Revenue (Tables)

3 Months Ended

Mar. 31, 2024

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,
		2024																2023
		Energy																Energy
		Products				Energy												Products				Energy
		and Services				Equipment				Elims.				Total				and Services				Equipment				Elims.				Total
North America		$	537			$	296			$	—			$	833			$	502			$	312			$	—			$	814
International			456				866				—				1,322				421				727				—				1,148
Eliminations			24				16				(40	)			—				18				13				(31	)			—
		$	1,017			$	1,178			$	(40	)		$	2,155			$	941			$	1,052			$	(31	)		$	1,962
Land		$	772			$	427			$	—			$	1,199			$	697			$	485			$	—			$	1,182
Offshore			221				735				—				956				226				554				—				780
Eliminations			24				16				(40	)			—				18				13				(31	)			—
		$	1,017			$	1,178			$	(40	)		$	2,155			$	941			$	1,052			$	(31	)		$	1,962

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, 2023		$	739			$	532
Billings			(275	)			314
Revenue recognized			366				(301	)
Currency translation adjustments and other			(16	)			(12	)
Balance at March 31, 2024		$	814			$	533

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, 2023		$	72
Provision for expected credit losses			15
Recoveries collected			(5	)
Other			(7	)
Balance at March 31, 2024		$	75

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

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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

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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