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Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information
2 – Segment Information
 
The Company's chief operating decision maker (“CODM”), our chief executive officer, regularly reviews information to make operating decisions, allocate resources and assess performance of the business. The CODM regularly reviews information aligned with how we offer our services and technologies in relation to the well life cycle as reflected in our reportable segments. All of our segments are enabled by a suite of digital monitoring, control and optimization solutions using advanced analytics to provide safe, reliable and efficient solutions throughout the well life cycle, including responsible abandonment. We have three reportable segments: (1) Drilling and Evaluation (2) Well Construction and Completions, and (3) Production and Intervention.

Drilling and Evaluation (“DRE”) offers a suite of services including managed pressure drilling, drilling services, wireline and drilling fluids. DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access and productivity.

Well Construction and Completions (“WCC”) offers products and services for well integrity assurance across the full life cycle of the well. The primary offerings are tubular running services, cementation products, completions, liner hangers and well services. WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction phase.

Production and Intervention (“PRI”) offers a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs. The primary offerings are intervention services & drilling tools, artificial lift, digital solutions (previously production automation & software), sub-sea intervention and pressure pumping services in select markets.

Total revenues are from external customers and segment revenues are specific to our three reportable segments and all other revenues are specific to our non-operating segment revenues. Revenues are further described in “Note 3 – Revenues.”

Our primary measure of segment profitability is segment adjusted EBITDA, which is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. Research and development expenses are included in segment adjusted EBITDA. Corporate and other includes business activities (profit and loss), corporate and other expenses (overhead support and centrally managed or shared facilities costs) that do not individually meet the criteria for segment reporting.
 Year Ended December 31,
(Dollars in millions)202220212020
Revenues:
Drilling and Evaluation$1,328 $1,066 $1,044 
Well Construction and Completions1,521 1,353 1,414 
Production and Intervention1,395 1,127 1,106 
  Segment Revenues4,244 3,546 3,564 
All Other87 99 121 
  Total Revenues$4,331 $3,645 $3,685 
Segment Adjusted EBITDA:
Drilling and Evaluation$324 $186 $132 
Well Construction and Completions299 256 273 
Production and Intervention261 191 154 
  Segment Adjusted EBITDA$884 $633 $559 
Corporate and Other(67)(62)(100)
Depreciation and Amortization(349)(440)(503)
Share-based Compensation Expense (a)
(25)(25)— 
Other Adjustments (b) :
Long-Lived and Other Asset Impairment$— $— $(1,053)
Restructuring Charges(22)— (206)
Other (Charges) Credits(9)10 (183)
   Other Adjustments
$(31)$10 $(1,442)
Operating Income (Loss)$412 $116 $(1,486)
(a)See “Note 15 – Share-Based Compensation” for additional information.
(b)See “Note 4 – Goodwill and Long-Lived Assets Impairment” and “Note 5 – Restructuring Charges” for
additional information. During 2020, segment adjusted EBITDA for Well Construction and Completions included
a $12 million gain on sale of operational assets otherwise shown as part of “Other Charges (Credits)” on the
accompanying Consolidated Statements of Operations.
Year Ended December 31,
(Dollars in millions)202220212020
Depreciation and Amortization:
Drilling and Evaluation$112 $164 $183 
Well Construction and Completions99 123 151 
Production and Intervention86 102 112 
Corporate and Other52 51 57 
Total Depreciation and Amortization$349 $440 $503 
Capital Expenditures:
Drilling and Evaluation$54 $18 $27 
Well Construction and Completions35 18 23 
Production and Intervention32 36 73 
Corporate and Other11 13 31 
Total Capital Expenditures$132 $85 $154 

December 31,
(Dollars in millions)
2022
2021
Total Assets:
Drilling and Evaluation$713 $783 
Well Construction and Completions993 974 
Production and Intervention729 686 
     Total Reportable Segment Assets2,435 2,443 
Corporate and Other (a)
2,285 2,331 
     Total$4,720 $4,774 
(a) Corporate and other assets primarily include cash and cash equivalents, certain intangible assets, and centrally
managed or shared facilities.

PP&E, Net and Operating Lease Assets by Geographic Area

As of December 31, 2022 and 2021 the U.S. accounted for 22% and 23%, respectively, of our PP&E, Net and operating lease assets identifiable by geography. No other country accounted for more than 10% of our PP&E, Net and operating lease assets identifiable by geography as of December 31, 2022 and 2021. We had no PP&E, Net and operating lease assets in our country of domicile (Ireland) as of December 31, 2022 and 2021.
December 31,
(Dollars in millions)
2022
2021
North America (a)
$246 $269 
  Latin America176 163 
  Middle East/North Africa/Asia354 385 
  Europe/Sub-Sahara Africa/Russia239 267 
PP&E, Net and Operating Lease Assets by Geography (b)
$1,015 $1,084 
(a) North America consists of the U.S. and Canada.
(b) Corporate assets not allocated by geography are excluded from this total.