XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.24.3

Revenue (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 30, |
|  | 2024 |  |  | 2023 |
|  | Energy |  |  |  |  |  |  |  |  |  |  |  | Energy |  |  |  |  |  |  |  |  |  |
|  | Products |  |  | Energy |  |  |  |  |  |  |  |  | Products |  |  | Energy |  |  |  |  |  |  |
|  | and Services |  |  | Equipment |  |  | Elims. |  |  | Total |  |  | and Services |  |  | Equipment |  |  | Elims. |  |  | Total |
North America |  | $ | 502 |  |  | $ | 319 |  |  | $ | — |  |  | $ | 821 |  |  | $ | 495 |  |  | $ | 302 |  |  | $ | — |  |  | $ | 797 |
International |  |  | 483 |  |  |  | 887 |  |  |  | — |  |  |  | 1,370 |  |  |  | 511 |  |  |  | 877 |  |  |  | — |  |  |  | 1,388 |
Eliminations |  |  | 18 |  |  |  | 13 |  |  |  | (31 | ) |  |  | — |  |  |  | 28 |  |  |  | 16 |  |  |  | (44 | ) |  |  | — |
|  | $ | 1,003 |  |  | $ | 1,219 |  |  | $ | (31 | ) |  | $ | 2,191 |  |  | $ | 1,034 |  |  | $ | 1,195 |  |  | $ | (44 | ) |  | $ | 2,185 |
Land |  | $ | 761 |  |  | $ | 436 |  |  | $ | — |  |  | $ | 1,197 |  |  | $ | 739 |  |  | $ | 435 |  |  | $ | — |  |  | $ | 1,174 |
Offshore |  |  | 224 |  |  |  | 770 |  |  |  | — |  |  |  | 994 |  |  |  | 267 |  |  |  | 744 |  |  |  | — |  |  |  | 1,011 |
Eliminations |  |  | 18 |  |  |  | 13 |  |  |  | (31 | ) |  |  | — |  |  |  | 28 |  |  |  | 16 |  |  |  | (44 | ) |  |  | — |
|  | $ | 1,003 |  |  | $ | 1,219 |  |  | $ | (31 | ) |  | $ | 2,191 |  |  | $ | 1,034 |  |  | $ | 1,195 |  |  | $ | (44 | ) |  | $ | 2,185 |
|  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
|  | Energy |  |  |  |  |  |  |  |  |  |  |  | Energy |  |  |  |  |  |  |  |  |  |
|  | Products |  |  | Energy |  |  |  |  |  |  |  |  | Products |  |  | Energy |  |  |  |  |  |  |
|  | and Services |  |  | Equipment |  |  | Elims. |  |  | Total |  |  | and Services |  |  | Equipment |  |  | Elims. |  |  | Total |
North America |  | $ | 1,573 |  |  | $ | 916 |  |  | $ | — |  |  | $ | 2,489 |  |  | $ | 1,516 |  |  | $ | 940 |  |  | $ | — |  |  | $ | 2,456 |
International |  |  | 1,432 |  |  |  | 2,641 |  |  |  | — |  |  |  | 4,073 |  |  |  | 1,403 |  |  |  | 2,381 |  |  |  | — |  |  |  | 3,784 |
Eliminations |  |  | 65 |  |  |  | 44 |  |  |  | (109 | ) |  |  | — |  |  |  | 85 |  |  |  | 43 |  |  |  | (128 | ) |  |  | — |
|  | $ | 3,070 |  |  | $ | 3,601 |  |  | $ | (109 | ) |  | $ | 6,562 |  |  | $ | 3,004 |  |  | $ | 3,364 |  |  | $ | (128 | ) |  | $ | 6,240 |
Land |  | $ | 2,310 |  |  | $ | 1,323 |  |  | $ | — |  |  | $ | 3,633 |  |  | $ | 2,165 |  |  | $ | 1,363 |  |  | $ | — |  |  | $ | 3,528 |
Offshore |  |  | 695 |  |  |  | 2,234 |  |  |  | — |  |  |  | 2,929 |  |  |  | 754 |  |  |  | 1,958 |  |  |  | — |  |  |  | 2,712 |
Eliminations |  |  | 65 |  |  |  | 44 |  |  |  | (109 | ) |  |  | — |  |  |  | 85 |  |  |  | 43 |  |  |  | (128 | ) |  |  | — |
|  | $ | 3,070 |  |  | $ | 3,601 |  |  | $ | (109 | ) |  | $ | 6,562 |  |  | $ | 3,004 |  |  | $ | 3,364 |  |  | $ | (128 | ) |  | $ | 6,240 |
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 |  |  | (1,148 | ) |  |  | 890 |
Revenue recognized |  |  | 1,137 |  |  |  | (906 | )
Currency translation adjustments and other |  |  | (44 | ) |  |  | (21 | )
Balance at September 30, 2024 |  | $ | 684 |  |  | $ | 495 |
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 |  |  | 34 |
Recoveries collected |  |  | (11 | )
Reclass for long-term receivables |  |  | (12 | )
Writeoffs |  |  | (13 | )
Other |  |  | (1 | )
Balance at September 30, 2024 |  | $ | 69 |

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 + Details
Name: | us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration