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Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

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.” Excluded from capital expenditures in the tables below is the capital expenditures related to the acquisition of assets held for sale.



	Successor
	Period From December 14 through December 31, 2019
(Dollars in millions)	Revenues		Income (Loss) from Operations			Depreciation and Amortization		Capital Expenditures
Western Hemisphere	$	121	$	(4	)	$	14	$	9
Eastern Hemisphere	140		10			20		7
	261		6			34		16
Corporate General and Administrative			(5		)	—		4
Total	$	261	$	1		$	34	$	20



	Predecessor
	Period From January 1, 2019 to December 13, 2019
(Dollars in millions)	Revenues		Income (Loss) from Operations			Depreciation and Amortization		Capital Expenditures
Western Hemisphere	$	2,620	$	54		$	171	$	113
Eastern Hemisphere	2,334		134			269		115
	4,954		188			440		228
Corporate General and Administrative			(118		)	7		22
Goodwill Impairment ^(a)			(730		)
Prepetition Charges ^(b)			(86		)
Long-live Asset Impairments, Asset Write-Downs, Inventory Write-Downs and Other ^(c)			(374		)
Restructuring Charges ^(d)			(189		)
Gain on Operational Assets Sale			15
Gain on Sale of Businesses, Net ^(e)			112
Total	$	4,954	$	(1,182	)	$	447	$	250


(a)	Impairment of the remaining goodwill related to our reporting units.


(b)	Prepetition charges for professional and other fees related to the Cases.


(c)	Includes asset write-downs, inventory write-downs and other charges, partially offset by a reduction of a contingency reserve on a legacy contract.


(d)	Includes restructuring charges of $189 million: $84 million in Western Hemisphere, $50 million in Eastern Hemisphere and $55 million in Corporate.


(e)	Primarily includes the gain on sale of our laboratory services business.



	Predecessor
	Year Ended December 31, 2018
(Dollars in millions)	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 ^(f)			(1,917		)
Long-Lived Asset Impairments, Asset Write-Downs and Other Charges^(g)			(238		)
Restructuring Charges ^(h)			(126		)
Total	$	5,744	$	(2,084	)	$	556	$	186


(f)	Goodwill impairment of $1.9 billion was taken during the fourth quarter of 2018.


(g)	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.


(h)	Includes restructuring charges of $126 million: $27 million in the Western Hemisphere, $45 million in the Eastern Hemisphere and $54 million in Corporate.



	Predecessor
	Year Ended December 31, 2017
(Dollars in millions)	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 Related Charges ⁽ⁱ⁾			(1,711		)
Restructuring Charges ^(j)			(183		)
Litigation Charges			10
Loss on Sale of Businesses, Net ^(k)			96
Total	$	5,699	$	(2,170	)	$	801	$	225


(i)	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.


(j)	Includes restructuring charges of $183 million: $70 million in the Western Hemisphere, $77 million in the Eastern Hemisphere and $36 million in Corporate.


(k)	In the fourth quarter of 2017, we recognized a gain on the disposition of our U.S. pressure pumping and pump-down perforating assets.

The following table presents total assets by segment at December 31:



	Successor		Predecessor
	December 31,		December 31,
(Dollars in millions)	2019		2018
Western Hemisphere	$	2,514	$	3,122
Eastern Hemisphere	4,392		2,966
Corporate	387		513
Total	$	7,293	$	6,601

Composition of consolidated revenues by product line

We provide 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 line are as follows:



	Successor		Predecessor
	Period From		Period From
	12/14/19		01/01/19		Years Ended
	through		through		December 31,
	12/31/2019		12/13/2019		2018		2017
Production	32	%	29	%	27	%	26	%
Completions	25		23		21		22
Drilling and Evaluation	22		24		25		24
Well Construction	21		24		27		28
Total	100	%	100	%	100	%	100	%

Long-lived Assets by Geo

Financial information by geographic area

phic Areas

Long-lived assets by geographic area within the segments are summarized below. 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 $39 million and $35 million at December 31, 2019 and 2018, respectively.



	Successor		Predecessor
	December 31,		December 31,
(Dollars in millions)	2019		2018
North America	$	753	$	809
Latin America	296		381
Western Hemisphere	$	1,049	$	1,190

Middle East & North Africa and Asia	$	715	$	587
Europe/Sub-Sahara Africa/Russia	684		411
Eastern Hemisphere	$	1,399	$	998

Total	$	2,448	$	2,188