Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue Recognition

14. Revenue

Disaggregation of Revenue

The following tables disaggregate our revenue by destinations, 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 the tables below, North America includes only the U.S. and Canada (in millions):

	Year Ended December 31, 2020
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	824	$	751	$	227	$	—		$	1,802
International		988		1,639		1,661		—			4,288
Eliminations		55		43		31		(129	)		—
	$	1,867	$	2,433	$	1,919	$	(129	)	$	6,090
Land	$	1,308	$	1,426	$	473	$	—		$	3,207
Offshore		504		964		1,415		—			2,883
Eliminations		55		43		31		(129	)		—
	$	1,867	$	2,433	$	1,919	$	(129	)	$	6,090

	Year Ended December 31, 2019
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,710	$	1,122	$	529	$	—		$	3,361
International		1,441		1,590		2,087		—			5,118
Eliminations		63		59		66		(188	)		—
	$	3,214	$	2,771	$	2,682	$	(188	)	$	8,479
Land	$	2,531	$	1,808	$	758	$	—		$	5,097
Offshore		620		904		1,858		—			3,382
Eliminations		63		59		66		(188	)		—
	$	3,214	$	2,771	$	2,682	$	(188	)	$	8,479

	Year Ended December 31, 2018
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,817	$	1,302	$	663	$	—		$	3,782
International		1,345		1,543		1,783		—			4,671
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453
Land	$	2,683	$	1,985	$	854	$	—		$	5,522
Offshore		479		860		1,592		—			2,931
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453

The Company did not have any customers with revenues greater than 10% of total revenue for the years ended December 31, 2020, 2019, or 2018.

Contract Assets and Liabilities

Contract assets include unbilled amounts when revenue recognized exceeds the amount billed to the customer under contracts where revenue is recognized over-time. There were no impairment losses recorded on contract assets for the years ending December 31, 2020, 2019 and 2018.  

Contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue.

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, 2019	$	643		$	427
Provision		(2	)		—
Billings		(945	)		1,130
Revenue recognized		953			(1,185	)
Currency translation adjustments and other		(38	)		(18	)
Balance at December 31, 2020	$	611		$	354