Revenues

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenues

3 – Revenues

Disaggregated Revenues

For additional details on our revenue recognition policies see “Note 1 – Summary of Significant Accounting Policies”.

The following tables disaggregate our revenues from contracts with customers by geographic region and includes equipment rental revenues. Equipment rental revenues were $146 million, $131 million and $150 million in 2022, 2021 and 2020, respectively.

The U.S. accounted for 20%, 19% and 20% of revenues in 2022, 2021 and 2020, respectively. No other country accounted for more than 10% of our revenue in 2022, 2021 and 2020. We had no revenue in our country of domicile (Ireland) in 2022, 2021 and 2020.

	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Revenues by Geographic Areas:
North America (a)	$	1,104	$	896	$	889
Latin America	1,062		814		697
Europe/Sub-Sahara Africa/Russia	764		737		747
Middle East/North Africa/Asia	1,401		1,198		1,352
Total Revenues	$	4,331	$	3,645	$	3,685

(a) North America consists of the U.S. and Canada.

Contract Balances

The timing of our revenue recognition, billings and cash collections result in the recording of accounts receivable, contract assets, and contract liabilities. The following table summarizes these balances as of December 31, 2022 and December 31, 2021:

	December 31,
(Dollars in millions)	2022		2021
Receivables for Product and Services in Accounts Receivable, Net	$	954	$	795
Receivables for Equipment Rentals in Account Receivable, Net	$	35	$	30
Accounts Receivable, Net of Allowance for Credit Losses of $26 at December 31, 2022 and $31 at December 31, 2021 (a)	$	989	$	825
Contract Assets in Other Current Assets	$	39	$	47
Contract Assets in Other Non-Current Assets	$	21	$	14
Contract Liabilities in Other Current Liabilities (b)	$	54	$	45

(a)The change in allowance for credit losses includes charges offset primarily by recoveries and write-offs. The credit loss charges were $10 million, $30 million and $32 million during 2022, 2021 and 2020, respectively. Offsets to allowance for credit losses were primarily recoveries and write-offs of $15 million, $31 million and nil during 2022, 2021 and 2020, respectively.

(b)Revenues recognized during the year ended December 31, 2022 and 2021 that were included in the contract liabilities balance at the beginning of each year were approximately $39 million and $35 million, respectively.