Revenues (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

The following tables disaggregate our product and service revenues from contracts with customers by major product line and geographic region for the three months ended March 31, 2018:



	Three Months Ended March 31, 2018
	(Unaudited)
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Excluding Rental Revenues		Rental Revenues		Total Revenues
Product Lines:

Production	$	286	$	95	$	381	$	—	$	381
Completions	157		136		293		1		294
Drilling and Evaluation	156		194		350		8		358
Well Construction	101		216		317		73		390
Total	$	700	$	641	$	1,341	$	82	$	1,423



	Three Months Ended March 31, 2018
(Dollars in millions)	(Unaudited)
Geographic Areas:

United States	$	345
Latin America	226
Canada	129
Western Hemisphere	700

Middle East & North Africa	363
Europe/Sub-Sahara Africa/Russia	222
Asia	56
Eastern Hemisphere	641

Total Product and Service Revenue before Rental Revenues	1,341
Rental Revenues	82
Total Revenues	$	1,423

Schedule of Contract with Customer, Asset and Liability

Significant changes in the contract assets and liabilities balances during the period are as follows:



(Dollars in millions)	Contract Assets			Contract Liabilities
Balance, as of January 1, 2018	$	10		$	42
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	—			(20		)
Increase due to cash received, excluding amount recognized as revenue during the period	—			25
Increase due to revenue recognized during the period but contingent on future performance	6			—
Transferred to receivables from contract assets recognized at the beginning of the period	(1		)	—
Balance, as of March 31, 2018	$	15		$	47

The following table provides information about receivables for product and services included in “Accounts Receivable, Net” at March 31, 2018 and January 1, 2018, respectively:

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

In the following table, estimated revenue expected to be recognized in the future related to performance obligations that are either unsatisfied or partially unsatisfied as of March 31, 2018 relate to subsea services, an artificial lift contract, long-term early production facility construction contracts and rigs demobilization:



(Dollars in millions)	2018		2019	2020	2021	Thereafter	Total
Service revenue	$	80	51	20	—	—	$	151

(Dollars in millions)

March 31, 2018

January 1, 2018

Receivables for Product and Services in Accounts Receivable, Net