v3.25.4

Revenue (Tables)

12 Months Ended

Dec. 31, 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 tables below, North America includes only the U.S. and Canada:

		Year Ended December 31, 2025
		Energy Products				Energy
		and Services				Equipment				Eliminations				Total
North America		$	2,194			$	1,081			$	—			$	3,275
International			1,677				3,792				—				5,469
Intersegment revenue			106				61				(167	)			—
		$	3,977			$	4,934			$	(167	)		$	8,744
Land		$	2,910			$	1,571			$	—			$	4,481
Offshore			961				3,302				—				4,263
Intersegment revenue			106				61				(167	)			—
		$	3,977			$	4,934			$	(167	)		$	8,744

		Year Ended December 31, 2024
		Energy Products				Energy
		and Services				Equipment				Eliminations				Total
North America		$	2,105			$	1,201			$	—			$	3,306
International			1,935				3,629				—				5,564
Intersegment revenue			90				58				(148	)			—
		$	4,130			$	4,888			$	(148	)		$	8,870
Land		$	3,088			$	1,800			$	—			$	4,888
Offshore			952				3,030				—				3,982
Intersegment revenue			90				58				(148	)			—
		$	4,130			$	4,888			$	(148	)		$	8,870

		Year Ended December 31, 2023
		Energy Products				Energy
		and Services				Equipment				Eliminations				Total
North America		$	2,019			$	1,237			$	—			$	3,256
International			1,954				3,373				—				5,327
Intersegment revenue			104				59				(163	)			—
		$	4,077			$	4,669			$	(163	)		$	8,583
Land		$	2,921			$	1,864			$	—			$	4,785
Offshore			1,052				2,746				—				3,798
Intersegment revenue			104				59				(163	)			—
		$	4,077			$	4,669			$	(163	)		$	8,583

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.

	Year Ended December 31,
	2025				2024				2023
Energy Products and Services:
Services & rental	$	1,962			$	1,996			$	1,959
Capital equipment		1,235				1,238				1,336
Product sales		674				806				678
Intersegment revenue		106				90				104
Total		3,977				4,130				4,077
Energy Equipment:
Capital equipment		2,989				2,625				2,556
Aftermarket		1,884				2,205				2,054
Intersegment revenue		61				58				59
Total		4,934				4,888				4,669
Eliminations		(167	)			(148	)			(163	)
Total consolidated	$	8,744			$	8,870			$	8,583

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			(1,838	)			1,586
Revenue recognized			1,813				(1,545	)
Currency translation adjustments and other			44				32
Balance at December 31, 2025		$	596			$	565

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			71
Recoveries collected			(18	)
Reclass for long-term receivables			(43	)
Write-offs			(10	)
Other			(3	)
Balance at December 31, 2025		$	64

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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