Business Combinations and Divestitures	12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]
Business Combinations and Dispositions	Business Combinations and Divestitures Acquisitions From time to time, we acquire businesses we believe are important to our long-term strategy. Results of operations for acquisitions are included in the accompanying Consolidated Statements of Operations from the date of acquisition. The balances included in the Consolidated Balance Sheets related to current year acquisitions are based on preliminary information and are subject to change when final asset valuations are obtained and the potential for liabilities has been evaluated. The purchase price for the acquisitions is allocated to the net assets acquired based upon their estimated fair values at the date of acquisition. We did not complete any material acquisitions or divestitures during the year ended December 31, 2016 or 2015. In April 2014, we acquired an additional 30% ownership interest in a joint venture in China. We paid $13 million for the incremental interest, thereby increasing our ownership interest from 45% to 75% and gaining control of the joint venture. As a result of this transaction, we adjusted our previously held equity investment to fair value, recognizing a $16 million gain, and we applied the consolidation method of accounting, recognizing $6 million of goodwill and $30 million of cash. In May 2012, we acquired a company that designs and produces well completion tools. Our purchase consideration included a contingent consideration valued at approximately $17 million that we paid at settlement during the fourth quarter of 2016. This contingent consideration arrangement is dependent on the acquired company’s revenue and is marked to market through current earnings in each reporting period prior to settlement. The liability is valued using Level 3 inputs. Divestitures On December 31, 2014, we completed the sale of our engineered chemistry and Integrity drilling fluids businesses for proceeds totaling $750 million less estimated working capital adjustments of $16 million and transaction fees of $12 million and recognized a gain of $250 million. In addition, we disposed of all of our shares in Proserv Group Inc. (“Proserv”) and recognized a gain of $65 million resulting from this transaction. The income before income taxes related to our engineered chemistry and Integrity drilling fluids businesses of $57 million in 2014 were segregated from our Consolidated Financial Statements. The major classes of assets sold in this transaction included $48 million of accounts receivable, $99 million of inventory and $369 million of other assets primarily comprised of PP&E and other intangible assets. Liabilities of $44 million were also transferred in the sale, of which $32 million were current liabilities. In September 2014, we completed the sale of our pipeline and specialty services business. We received cash consideration of $246 million ($245 million, net of cash disposed) and recognized a gain of approximately $49 million resulting from this transaction. In July 2014, we completed the sale of our land drilling and workover rig operations in Russia and Venezuela. We received cash consideration upon closing of $499 million ($486 million, net of cash disposed). As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment loss and a $121 million goodwill impairment loss in the second quarter of 2014. Of the $121 million goodwill impairment loss, $95 million pertained to goodwill attributable to our divested land drilling and workover rig operations in Russia. See “Note 9 – Goodwill” for additional information regarding the goodwill impairment. On October 7, 2013, we completed the sale of our 38.5% equity interest in Borets International Limited (“Borets”) for $400 million, net of settlement items. We recorded a gain on sale of $18 million. The consideration consisted of $359 million in cash and a three-year $30 million promissory note. In the fourth quarter of 2016, we received the principal and interest due on the promissory note.

Business Combinations and Divestitures

Acquisitions

From time to time, we acquire businesses we believe are important to our long-term strategy. Results of operations for acquisitions are included in the accompanying Consolidated Statements of Operations from the date of acquisition. The balances included in the Consolidated Balance Sheets related to current year acquisitions are based on preliminary information and are subject to change when final asset valuations are obtained and the potential for liabilities has been evaluated. The purchase price for the acquisitions is allocated to the net assets acquired based upon their estimated fair values at the date of acquisition. We did not complete any material acquisitions or divestitures during the year ended December 31, 2016 or 2015.

In April 2014, we acquired an additional 30% ownership interest in a joint venture in China. We paid $13 million for the incremental interest, thereby increasing our ownership interest from 45% to 75% and gaining control of the joint venture. As a result of this transaction, we adjusted our previously held equity investment to fair value, recognizing a $16 million gain, and we applied the consolidation method of accounting, recognizing $6 million of goodwill and $30 million of cash.

In May 2012, we acquired a company that designs and produces well completion tools. Our purchase consideration included a contingent consideration valued at approximately $17 million that we paid at settlement during the fourth quarter of 2016. This contingent consideration arrangement is dependent on the acquired company’s revenue and is marked to market through current earnings in each reporting period prior to settlement. The liability is valued using Level 3 inputs.

Divestitures

On December 31, 2014, we completed the sale of our engineered chemistry and Integrity drilling fluids businesses for proceeds totaling $750 million less estimated working capital adjustments of $16 million and transaction fees of $12 million and recognized a gain of $250 million. In addition, we disposed of all of our shares in Proserv Group Inc. (“Proserv”) and recognized a gain of $65 million resulting from this transaction.

The income before income taxes related to our engineered chemistry and Integrity drilling fluids businesses of $57 million in 2014 were segregated from our Consolidated Financial Statements. The major classes of assets sold in this transaction included $48 million of accounts receivable, $99 million of inventory and $369 million of other assets primarily comprised of PP&E and other intangible assets. Liabilities of $44 million were also transferred in the sale, of which $32 million were current liabilities.

In September 2014, we completed the sale of our pipeline and specialty services business. We received cash consideration of $246 million ($245 million, net of cash disposed) and recognized a gain of approximately $49 million resulting from this transaction.

In July 2014, we completed the sale of our land drilling and workover rig operations in Russia and Venezuela. We received cash consideration upon closing of $499 million ($486 million, net of cash disposed). As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment loss and a $121 million goodwill impairment loss in the second quarter of 2014. Of the $121 million goodwill impairment loss, $95 million pertained to goodwill attributable to our divested land drilling and workover rig operations in Russia. See “Note 9 – Goodwill” for additional information regarding the goodwill impairment.

On October 7, 2013, we completed the sale of our 38.5% equity interest in Borets International Limited (“Borets”) for $400 million, net of settlement items. We recorded a gain on sale of $18 million. The consideration consisted of $359 million in cash and a three-year $30 million promissory note. In the fourth quarter of 2016, we received the principal and interest due on the promissory note.