Revenues

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue by Product Line and Geographic Region

The following tables disaggregate our product and service revenues from contracts with customers by major product line and geographic region for the third quarter and the first nine months ended September 30, 2019 and 2018:



	Three Months Ended September 30, 2019
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Revenues Excluding Rental Revenues
Product Lines:
Production	$	295	$	90	$	385
Completions	117		168		285
Drilling and Evaluation	114		197		311
Well Construction	108		161		269
Total	$	634	$	616	$	1,250



	Three Months Ended September 30, 2018
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Revenues Excluding Rental Revenues
Product Lines:
Production	$	293	$	89	$	382
Completions	154		149		303
Drilling and Evaluation	152		201		353
Well Construction	106		225		331
Total	$	705	$	664	$	1,369



	Nine Months Ended September 30, 2019
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Revenues Excluding Rental Revenues
Product Lines:
Production	$	898	$	251	$	1,149
Completions	378		515		893
Drilling and Evaluation	382		554		936
Well Construction	304		461		765
Total	$	1,962	$	1,781	$	3,743



	Nine Months Ended September 30, 2018
(Dollars in millions)	Western Hemisphere		Eastern Hemisphere		Total Revenues Excluding Rental Revenues
Product Lines:
Production	$	887	$	270	$	1,157
Completions	459		440		899
Drilling and Evaluation	449		575		1,024
Well Construction	294		671		965
Total	$	2,089	$	1,956	$	4,045



	Three months ended				Nine months ended
	September 30,				September 30,
(Dollars in millions)	2019		2018		2019		2018
Geographic Areas:
United States	$	285	$	359	$	938	$	1,050
Latin America	293		258		835		754
Canada	56		88		189		285
Western Hemisphere	634		705		1,962		2,089

Middle East & North Africa	286		355		864		1,074
Europe/Sub-Sahara Africa/Russia	252		230		683		671
Asia	78		79		234		211
Eastern Hemisphere	616		664		1,781		1,956

Total Product and Service Revenue before Rental Revenues	1,250		1,369		3,743		4,045
Equipment Rental Revenues	64		75		226		270
Total Revenues	$	1,314	$	1,444	$	3,969	$	4,315

The unmanned equipment that we lease to customers as operating leases consist primarily of drilling rental tools and artificial lift pumping equipment. These equipment rental revenues are generally provided based on call-out work orders that include fixed per unit prices and are derived from short-term contracts.

Contract Balances

The following table provides information about receivables for product and services included in “Accounts Receivable, Net” at September 30, 2019 and December 31, 2018, respectively.

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



(Dollars in millions)	Contract Assets			Contract Liabilities
Balance at December 31, 2018	$	4		$	64
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	—			(50		)
Increase due to consideration received, net of amount recognized as revenue during the period	—			31
Increase due to revenue recognized during the period but contingent on future performance	8			—
Transferred to receivables from contract assets recognized at the beginning of the period	(8		)	—
Adjustments due to changes in estimates or contract modifications	—			9
Balance at September 30, 2019	$	4		$	54

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, 2019 primarily relate to subsea services and an artificial lift contract.



(Dollars in millions)	2019		2020		2021		2022		Thereafter		Total
Service Revenue	$	17	$	42	$	18	$	18	$	18	$	113

(Dollars in millions)

September 30, 2019

December 31, 2018

Receivables for Product and Services in Accounts Receivable, Net