Revenues (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

The following table disaggregates our revenues from contracts with customers by geographic region and includes equipment rental revenues. North America in the table below consists of the U.S. and Canada.


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	2022		2021		2022		2021








Revenues by Geographic Areas:
Middle East/North Africa/Asia	$	350	$	289	$	660	$	556
North America	268		220		506		434
Latin America	265		205		492		381
Europe/Sub-Sahara Africa/Russia	181		189		344		364

Total Revenues	$	1,064	$	903	$	2,002	$	1,735

Schedule of Contract with Customer, Asset and Liability

Contract Balances

The timing of our revenue recognition, billings and cash collections results in the recording of billed and unbilled accounts receivable, contract assets, customer advances and deposits (contract liabilities classified as deferred revenues). Receivables with customers are included in “Accounts Receivable, Net,” short-term contract assets are included in “Other Current Assets,” long-term contract assets are included in “Other Non-Current Assets” and contract liabilities are included in “Other Current Liabilities” on our Condensed Consolidated Balance Sheets. The following table summarizes these balances as of June 30, 2022 and December 31, 2021:


(Dollars in millions)	June 30, 2022		December 31, 2021
Total Accounts Receivables	$	930	$	825
Receivables for Product and Services in Accounts Receivable, Net	$	900	$	795
Receivables for Equipment Rentals in Account Receivable, Net	$	30	$	30

Short-Term Contract Assets in Other Current Assets	$	41	$	47
Long-term Contract Assets in Other Non-Current Assets	$	18	$	14
Contract Liabilities in Other Current Liabilities (a)	$	22	$	26

(a)Revenues recognized during the six months ended June 30, 2022 and 2021 that were included in the contract liabilities balance at the beginning of each year were $18 million and $25 million, respectively.

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Performance Obligations

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASU 2014-09, Revenues from Contracts with Customers (Topic 606). A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. In the following table, estimated revenue for contracts with original performance obligations greater than twelve months are expected to be recognized in the future related to performance obligations that are either unsatisfied or partially unsatisfied as of June 30, 2022.


(Dollars in millions)	2022		2023		2024		2025		Thereafter		Total
Service Revenue	$	35	$	63	$	65	$	52	$	22	$	237