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Long-lived and Other Asset Impairments (Notes)
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Long-lived and Other Asset Impairments
Long-lived Asset Impairments

In the fourth quarter of 2014, a significant decline in crude oil prices contributed to lower anticipated exploration and production spending and a decline in the anticipated utilization of our drilling rig fleet. The decline and its impact on demand represent a significant adverse change in the business climate and an indication that these long-lived assets may not be recoverable. Based on the impairment indicators noted we performed an analysis of our drilling rig fleet and, in the fourth quarter of 2014, recorded long-lived impairment charges of $352 million to adjust the assets of our rig business to fair value. The impairment charges included the impairment of our drilling rigs and certain related intangible assets. To determine the fair value of these assets we utilized an income approach and assumptions related to future utilization rates of the long-lived assets. The long-lived asset impairments recognized in the fourth quarter of $175 million, $28 million, and $149 million related to our MENA/Asia Pacific, Europe/Sub-Sahara Africa (“SSA”)/Russia, and Latin America segments, respectively.
 
In July 2014, we completed the sale of our rig operations in Russia and Venezuela. We expected the sale would significantly impact the revenues and results of operations of our Russia reporting unit. We considered the associated circumstances and determined that the fair value of our Russia and Latin America reporting units was below their carrying amount. In July 2014, we completed the sale of our rig operations in Russia and Venezuela. As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment charge.