XML 71 R55.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Financial information by segment
Financial information by segment is summarized below. Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. The accounting policies of the segments are the same as those described in “Note 1 – Summary of Significant Accounting Policies.” Included in the 2016 loss from operations in the Eastern Hemisphere are losses related to our Zubair project in Iraq as described in “Note 3 – Revenues.” Excluded from capital expenditures in the tables below is the acquisition of assets held for sale.

 
Year Ended December 31, 2018
(Dollars in millions)
Net
Operating
Revenues
 
Income (Loss)
from
Operations
 
Depreciation
and
Amortization
 
Capital
Expenditures
Western Hemisphere
$
3,063

 
$
208

 
$
216

 
$
81

Eastern Hemisphere
2,681

 
119

 
333

 
87

 
5,744

 
327

 
549

 
168

Corporate General and Administrative
 
 
(130
)
 
7

 
18

Goodwill Impairment (a)
 
 
(1,917
)
 
 
 
 
Long-Lived Asset Impairments, Write-Downs and Other Charges (b)
 
 
(238
)
 
 
 
 
Restructuring and Transformation Charges (c)
 
 
(126
)
 
 
 
 
Total
$
5,744

 
$
(2,084
)
 
$
556

 
$
186


(a)
Goodwill impairment of $1.9 billion was taken during the fourth quarter of 2018.
(b)
During 2018, impairments, asset write-downs and other includes $151 million in long-lived asset impairments primarily related to the land drilling rigs business and $87 million of other asset write-downs, charges and credits.
(c)
Includes restructuring charges of $126 million: $27 million in Western Hemisphere, $45 million in Eastern Hemisphere and $54 million in Corporate.

 
Year Ended December 31, 2017
(Dollars in millions)
Net
Operating
Revenues
 
Income (Loss) from
Operations
 
Depreciation
and
Amortization
 
Capital
Expenditures
Western Hemisphere
$
2,937

 
$
(113
)
 
$
352

 
$
70

Eastern Hemisphere
2,762

 
(139
)
 
443

 
130

 
5,699

 
(252
)
 
795

 
200

Corporate General and Administrative
 
 
(130
)
 
6

 
25

Long-Lived Asset Impairments, Write-Downs and Other Charges (d) 
 
 
(1,711
)
 
 
 
 
Restructuring Charges (e)
 
 
(183
)
 
 
 
 
Litigation Charges, Net
 
 
10

 
 
 
 
Gain from Disposition of U.S. Pressure Pumping Assets (f)
 
 
96

 
 
 
 
Total
$
5,699

 
$
(2,170
)
 
$
801

 
$
225


(d)
During 2017, impairments, asset write-downs and other include $928 million in long-lived asset impairments (of which $740 million relates to the write-down to the lower of carrying amount or fair value less cost to sell of our land drilling rigs assets classified as held for sale), $506 million of asset write-downs, charges and credits and $230 million in the write-down of Venezuelan receivables.
(e)
Includes restructuring charges of $183 million: $70 million in the Western Hemisphere, $77 million in the Eastern Hemisphere and $36 million in Corporate.
(f)
In the fourth quarter of 2017, we recognized a gain on the disposition of our U.S. pressure pumping and pump-down perforating assets.


 
Year Ended December 31, 2016
(Dollars in millions)
Net
Operating
Revenues
 
Loss
from
Operations 
 
Depreciation
and
Amortization
 
Capital
Expenditures
Western Hemisphere
$
2,942

 
$
(407
)
 
$
446

 
$
55

Eastern Hemisphere
2,807

 
(157
)
 
501

 
134

 
5,749

 
(564
)
 
947

 
189

Corporate General and Administrative
 
 
(138
)
 
9

 
15

Long-Lived Asset Impairments and Other Related Charges (g)
 
 
(1,043
)
 
 
 
 
Restructuring Charges (h)
 
 
(280
)
 
 
 
 
Litigation Charges
 
 
(220
)
 
 
 
 
Total
$
5,749

 
$
(2,245
)
 
$
956

 
$
204


(g)
Includes $710 million related to long-lived asset impairments, asset write-downs, receivable write-offs and other charges and credits, $219 million in inventory write-downs and $114 million of pressure pumping related charges.
(h)
Includes restructuring charges of $280 million: $153 million in the Western Hemisphere, $75 million in the Eastern Hemisphere and $52 million in Corporate.

The following table presents total assets by segment at December 31:
 
Total Assets at
December 31,
(Dollars in millions)
2018
2017
Western Hemisphere
$
3,122

$
4,933

Eastern Hemisphere
2,966

4,311

Corporate
513

503

Total
$
6,601

$
9,747
Composition of consolidated revenues by product line
Products and Services

We are one of the world’s leading providers of equipment and services used in the production, completions, drilling and evaluation, and well construction of oil and natural gas wells. The composition of our consolidated revenues by product and service line group is as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Production
27
%
 
26
%
 
29
%
Completions
21

 
22

 
20

Drilling and Evaluation
25

 
24

 
22

Well Construction
27

 
28

 
29

Total
100
%
 
100
%
 
100
%
Financial information by geographic area
Geographic Areas

Financial information by geographic area within the hemispheres is summarized below. Revenues from customers and long-lived assets in Ireland were nil in each of the years presented. Long-lived assets exclude goodwill and intangible assets as well as deferred tax assets of $35 million and $36 million at December 31, 2018 and 2017, respectively.
 
Revenues
 
Long-lived Assets
(Dollars in millions)
2018
 
2017
 
2016
 
2018
 
2017
  United States
$
1,605

 
$
1,555

 
$
1,523

 
$
750

 
$
870

  Latin America
1,076

 
890

 
1,064

 
381

 
575

  Canada
382

 
492

 
355

 
59

 
118

  Western Hemisphere
$
3,063

 
$
2,937

 
$
2,942

 
$
1,190

 
$
1,563

 
 
 
 
 
 
 
 
 
 
  Middle East & North Africa
$
1,430

 
$
1,464

 
$
1,513

 
$
413

 
$
528

  Europe/Sub-Sahara Africa/Russia
953

 
999

 
939

 
411

 
532

  Asia
298

 
299

 
355

 
174

 
270

  Eastern Hemisphere
$
2,681

 
$
2,762

 
$
2,807

 
$
998

 
$
1,330

 
 
 
 
 
 
 
 
 
 
  Total
$
5,744

 
$
5,699

 
$
5,749

 
$
2,188

 
$
2,893