Revenues (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

The following tables disaggregate our product, service and rental revenues from contracts with customers by major product line and geographic region for the third quarter and the first nine months ended September 30, 2018:



	Three Months Ended September 30, 2018
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Excluding Rental Revenues		Rental Revenues		Total Revenues
Product Lines:

Production	$	293	$	89	$	382	$	1	$	383
Completions	154		149		303		—		303
Drilling and Evaluation	152		201		353		4		357
Well Construction	106		225		331		70		401
Total	$	705	$	664	$	1,369	$	75	$	1,444



	Nine Months Ended September 30, 2018
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Excluding Rental Revenues		Rental Revenues		Total Revenues
Product Lines:

Production	$	887	$	270	$	1,157	$	1	$	1,158
Completions	459		440		899		1		900
Drilling and Evaluation	449		575		1,024		32		1,056
Well Construction	294		671		965		236		1,201
Total	$	2,089	$	1,956	$	4,045	$	270	$	4,315



	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
(Dollars in millions)
Geographic Areas:

United States	$	359	$	1,050
Latin America	258		754
Canada	88		285
Western Hemisphere	705		2,089

Middle East & North Africa	355		1,074
Europe/Sub-Sahara Africa/Russia	230		671
Asia	79		211
Eastern Hemisphere	664		1,956

Total Product and Service Revenue before Rental Revenues	1,369		4,045
Rental Revenues	75		270
Total Revenues	$	1,444	$	4,315

Schedule of Contract with Customer, Asset and Liability

The following table provides information about receivables for product and services included in “Accounts Receivable, Net”

at September 30, 2018 and January 1, 2018, respectively:

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



(Dollars in millions)	Contract Assets			Contract Liabilities
Balance at January 1, 2018	$	10		$	42
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	—			(74		)
Increase due to cash received, excluding amount recognized as revenue during the period	—			75
Increase due to revenue recognized during the period but contingent on future performance	11			—
Transferred to receivables from contract assets recognized at the beginning of the period	(7		)	—
Changes as a result of adjustments due to changes in estimates or contract modifications	—			26
Impairment of contract assets	(5		)	—
Reclassification to Held for Sale	(2		)	(3		)
Balance at September 30, 2018	$	7		$	66

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 September 30, 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	$	14	$	61	$	33	$	18	$	37	$	163
Product revenue	4		—		—		—		—		4
Total	$	18	$	61	$	33	$	18	$	37	$	167

(Dollars in millions)

September 30, 2018

January 1, 2018

Receivables for Product and Services in Accounts Receivable, Net