Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Financial information by segment is summarized below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2019 Annual Report.


	Successor		Predecessor		Successor		Predecessor
	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
(Dollars in millions)	9/30/2020		9/30/2019		9/30/2020		9/30/2019
Revenue:
Western Hemisphere	$	316	$	675	$	1,214	$	2,120
Eastern Hemisphere	491		639		1,629		$	1,849
Total Revenue	$	807	$	1,314	$	2,843	$	3,969
Operating Income (Loss):
Western Hemisphere	$	(2)	15		$	4	$	35
Eastern Hemisphere	5		56		38		104
Total Segment Operating Income	3		71		42		139
Corporate	(28)		(31)		(80)		(95)
Impairments and Other Charges (a) (b)	(47)		(494)		(1,353)		(1,029)






Gain on Operational Assets Sale	12		15		12		15
Gain (Loss) on Sale of Businesses, Net (c)	—		(8)		—		104
Total Operating Loss	$	(60)	$	(447)	$	(1,379)	$	(866)
Interest Expense, Net	(79)		(26)		(196)		(341)
Reorganization Items	—		(303)		(9)		(303)
Other Expense, Net	(20)		(8)		(56)		(18)
Loss Before Income Taxes	$	(159)	$	(784)	$	(1,640)	$	(1,528)

(a)In the Successor three months ended September 30, 2020, primarily includes restructuring and other charges. In the Successor nine months ended September 30, 2020, primarily includes the impairment of goodwill, property, plant and equipment, intangibles and right of use assets, inventory excess and obsolete charges, and restructuring and other charges. See “Note 3 – Inventories, Net”, “Note 5 - Long-Lived Asset Impairments”, “Note 6 – Goodwill and Intangible Assets”, and “Note 7 – Restructuring, Facility Consolidation and Severance Charges” for additional information.

(b)In the Predecessor three months ended September 30, 2019, primarily includes goodwill impairment, and restructuring and other charges. In the Predecessor nine months ended September 30, 2019, primarily includes goodwill impairment, restructuring and other charges, and prepetition charges for professional and other fees related to the Predecessor bankruptcy cases. See “Note 5 - Long-Lived Asset Impairments”, “Note 6 – Goodwill and Intangible Assets”, and “Note 7 – Restructuring, Facility Consolidation and Severance Charges” for additional information.

(c)Primarily includes the gain on sale of our reservoir solutions business in the Predecessor second quarter of 2019.

The following table presents total assets by segment at for each period presented:


(Dollars in millions)	9/30/2020		12/31/2019
Western Hemisphere	$	1,694	$	2,514
Eastern Hemisphere	3,264		4,392
Corporate	706		387
Total	$	5,664	$	7,293