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Revenue (Tables)

6 Months Ended

Jun. 30, 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 June 30,
		2024																2023
		Energy																Energy
		Products				Energy												Products				Energy
		and Services				Equipment				Elims.				Total				and Services				Equipment				Elims.				Total
North America		$	534			$	301			$	—			$	835			$	519			$	326			$	—			$	845
International			493				888				—				1,381				471				777				—				1,248
Eliminations			23				15				(38	)			—				39				14				(53	)			—
		$	1,050			$	1,204			$	(38	)		$	2,216			$	1,029			$	1,117			$	(53	)		$	2,093

Land		$	777			$	460			$	—			$	1,237			$	729			$	443			$	—			$	1,172
Offshore			250				729				—				979				261				660				—				921
Eliminations			23				15				(38	)			—				39				14				(53	)			—
		$	1,050			$	1,204			$	(38	)		$	2,216			$	1,029			$	1,117			$	(53	)		$	2,093


		Six Months Ended June 30,
		2024																2023
		Energy																Energy
		Products				Energy												Products				Energy
		and Services				Equipment				Elims.				Total				and Services				Equipment				Elims.				Total
North America		$	1,071			$	597			$	—			$	1,668			$	1,021			$	638			$	—			$	1,659
International			949				1,754				—				2,703				892				1,504				—				2,396
Eliminations			47				31				(78	)			—				57				27				(84	)			—
		$	2,067			$	2,382			$	(78	)		$	4,371			$	1,970			$	2,169			$	(84	)		$	4,055

Land		$	1,549			$	887			$	—			$	2,436			$	1,426			$	928			$	—			$	2,354
Offshore			471				1,464				—				1,935				487				1,214				—				1,701
Eliminations			47				31				(78	)			—				57				27				(84	)			—
		$	2,067			$	2,382			$	(78	)		$	4,371			$	1,970			$	2,169			$	(84	)		$	4,055

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			(639	)			582
Revenue recognized			710				(592	)
Currency translation adjustments and other			(38	)			(14	)
Balance at June 30, 2024		$	772			$	508

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			24
Recoveries collected			(8	)
Other			(15	)
Balance at June 30, 2024		$	73