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Revenues
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Revenue by Product Line and Geographic Region

Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. During the second quarter of 2020, in order to support the streamlining and realignment of the business, we combined our prior reported four product lines into two product lines, and all prior periods have been retrospectively recast to conform to this new presentation. Our two primary product lines are as follows: (1) Production and Completions and (2) Drilling, Evaluation and Intervention. Our new combined Production and Completion product line was previously reported as two separate product lines. Our new Drilling, Evaluation and Intervention product line was previously reported as two separate product lines of Drilling and Evaluation and Well Construction. The unmanned equipment that we lease to customers as operating leases consists primarily of drilling rental tools (in the Drilling, Evaluation and Intervention product line) and artificial lift pumping equipment (in the Production and Completions product line). 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. Equipment rental revenues recognized under Accounting Standards Update No. 2016-02, Leases (Topic 842) were $30 million and $119 million for the three and nine months Successor Periods ended September 30, 2020, respectively, and $64 million and $226 million for the three and nine months Predecessor Periods ended September 30, 2019, respectively.

The following tables disaggregate our product and service revenues by major product line and geographic region for the three and nine months ended September 30, 2020 and 2019.
SuccessorPredecessorSuccessorPredecessor
Three Months EndedThree Months Ended
Nine Months Ended
Nine Months Ended
(Dollars in millions)
9/30/2020
9/30/2019
9/30/2020
9/30/2019
Product Line Revenue by Hemisphere:
  Production and Completions$170 $348 $632 $1,098 
  Drilling, Evaluation and Intervention146 327 582 1,022 
 Western Hemisphere$316 $675 $1,214 $2,120 
  Production and Completions$241 $265 $783 $792 
  Drilling, Evaluation and Intervention250 374 846 1,057 
 Eastern Hemisphere$491 $639 $1,629 $1,849 
Total Revenue$807 $1,314 $2,843 $3,969 

 SuccessorPredecessorSuccessorPredecessor
Three Months EndedThree Months Ended
Nine Months Ended
Nine Months Ended
(Dollars in millions)
9/30/2020
9/30/2019
9/30/2020
9/30/2019
Revenue by Geographic Areas:
  North America$175 $383 $688 $1,259 
  Latin America141 292 526 861 
 Western Hemisphere $316 $675 $1,214 $2,120 
  Middle East & North Africa and Asia$319 $377 $1,063 $1,129 
  Europe/Sub-Sahara Africa/Russia172 262 566 720 
 Eastern Hemisphere $491 $639 $1,629 $1,849 
Total Revenues$807 $1,314 $2,843 $3,969 
The following table provides information about receivables for product and services included in “Accounts Receivable, Net,” “Contrast Assets” and “Contract Liabilities” at September 30, 2020 and December 31, 2019.
(Dollars in millions)
9/30/2020
12/31/2019
Receivables for Product and Services in Accounts Receivable, Net$793 $1,156 
Receivables for Equipment Rentals in Account Receivable, Net$42 $85 
Contract Assets$1 $3 
Contract Liabilities$29 $12 

Revenue recognized for the nine months ended September 30, 2020 that were included in the contract liabilities balance at the beginning of 2020 was $8 million.

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, 2020 primarily relate to subsea services and an artificial lift contract.
(Dollars in millions)2020202120222023ThereafterTotal
Service Revenue$35 $34 $34 $34 $80 $217