XML 41 R31.htm IDEA: XBRL DOCUMENT v3.25.3

Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Summary of Disaggregate Revenue by Destinations and Revenue Streams

The following tables disaggregate our revenue by destinations and revenue streams, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors (in millions).

In the table below, North America includes only the U.S. and Canada:

		Three Months Ended
		September 30,
		2025																2024
		Energy																Energy
		Products				Energy												Products				Energy
		and Services				Equipment				Eliminations				Total				and Services				Equipment				Eliminations				Total
North America		$	537			$	275			$	—			$	812			$	502			$	319			$	—			$	821
International			409				955				—				1,364				483				887				—				1,370
Intersegment revenue			25				17				(42	)			—				18				13				(31	)			—
		$	971			$	1,247			$	(42	)		$	2,176			$	1,003			$	1,219			$	(31	)		$	2,191
Land		$	700			$	379			$	—			$	1,079			$	761			$	436			$	—			$	1,197
Offshore			246				851				—				1,097				224				770				—				994
Intersegment revenue			25				17				(42	)			—				18				13				(31	)			—
		$	971			$	1,247			$	(42	)		$	2,176			$	1,003			$	1,219			$	(31	)		$	2,191

		Nine Months Ended
		September 30,
		2025																2024
		Energy																Energy
		Products				Energy												Products				Energy
		and Services				Equipment				Elims.				Total				and Services				Equipment				Elims.				Total
North America		$	1,658			$	807			$	—			$	2,465			$	1,573			$	916			$	—			$	2,489
International			1,257				2,745				—				4,002				1,432				2,641				—				4,073
Intersegment revenue			73				48				(121	)			—				65				44				(109	)			—
		$	2,988			$	3,600			$	(121	)		$	6,467			$	3,070			$	3,601			$	(109	)		$	6,562
Land		$	2,192			$	1,198			$	—			$	3,390			$	2,310			$	1,323			$	—			$	3,633
Offshore			723				2,354				—				3,077				695				2,234				—				2,929
Intersegment revenue			73				48				(121	)			—				65				44				(109	)			—
		$	2,988			$	3,600			$	(121	)		$	6,467			$	3,070			$	3,601			$	(109	)		$	6,562

In the table below, the revenue streams of the Energy Products and Services segment are categorized as services and rentals, sales of shorter-lived capital equipment, and sales of consumable products. The revenue streams of Energy Equipment are categorized as long-lived capital equipment sales and aftermarket sales and services.

		Three Months Ended
		September 30,
		2025				2024
Energy Products and Services:
Services & rental		$	485			$	507
Capital equipment			293				280
Product sales			168				198
Intersegment revenue			25				18
Total			971				1,003
Energy Equipment:
Capital equipment			777				648
Aftermarket			453				558
Intersegment revenue			17				13
Total			1,247				1,219
Eliminations			(42	)			(31	)
Total consolidated		$	2,176			$	2,191

		Nine Months Ended
		September 30,
		2025				2024
Energy Products and Services:
Services & rental		$	1,493			$	1,491
Capital equipment			916				910
Product sales			506				604
Intersegment revenue			73				65
Total			2,988				3,070
Energy Equipment:
Capital equipment			2,151				1,898
Aftermarket			1,401				1,659
Intersegment revenue			48				44
Total			3,600				3,601
Eliminations			(121	)			(109	)
Total consolidated		$	6,467			$	6,562

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, 2024		$	577			$	492
Billings			(1,360	)			1,212
Revenue recognized			1,335				(1,152	)
Currency translation adjustments and other			24				12
Balance at September 30, 2025		$	576			$	564

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, 2024		$	67
Provision for expected credit losses			68
Recoveries collected			(13	)
Reclass for long-term receivables			(47	)
Write-offs			(5	)
Other			(2	)
Balance at September 30, 2025		$	68

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