Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

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 2023 Form 10-K. We have three reportable segments: (1) Drilling and Evaluation “DRE”, (2) Well Construction and Completions “WCC”, and (3) Production and Intervention “PRI.”

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. All Other results were from non-core business activities (including pass through and project management services included in integrated services and projects). Corporate includes overhead support and centrally managed or shared facility costs. All other and corporate do not individually meet the criteria for segment reporting.


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2024		2023		2024		2023
Revenues:
DRE Revenues	$	435	$	388	$	1,284	$	1,154
WCC Revenues	509		459		1,471		1,320
PRI Revenues	371		371		1,088		1,086

All Other	94		95		329		213
Total Revenues	$	1,409	$	1,313	$	4,172	$	3,773

Operating Income:
DRE Segment Adjusted EBITDA	$	111	$	111	$	371	$	325
WCC Segment Adjusted EBITDA	151		119		416		324
PRI Segment Adjusted EBITDA	83		86		241		235

All Other	23		7		73		25
Corporate	(13)		(18)		(45)		(44)

Depreciation and Amortization	(89)		(83)		(260)		(244)
Share-based Compensation	(10)		(9)		(35)		(26)







































Other Credits (Charges)	(13)		5		(21)		9








Operating Income	$	243	$	218	$	740	$	604