Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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 2024 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”.

The Company’s chief operating decision maker (“CODM”), our chief executive officer, uses segment adjusted EBITDA to measure the profitability of each segment. The regularly reviewed historical, current and forecasted segment adjusted EBITDA data is utilized by the CODM to allocate Company resources. The CODM also uses segment adjusted EBITDA to drive efficiencies and develop competitive strategies. Segment adjusted EBITDA is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. All other includes results from non-core business activities (including integrated services and projects), and corporate includes overhead support and centrally managed or shared facilities costs. All other and corporate do not individually meet the criteria for segment reporting.


	Three Months Ended March 31, 2025
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	350	$	441	$	334	$	68	$	1,193

Direct Costs(a)	(226)		(258)		(230)
Other Expense(b)	(50)		(55)		(42)
DRE Segment Adjusted EBITDA	74								74
WCC Segment Adjusted EBITDA			128						128
PRI Segment Adjusted EBITDA					62				62

All Other									4
Corporate									(15)

Depreciation and Amortization									(62)
Share-based Compensation									(7)







































Restructuring Charges									(29)
Other Charges, Net									(13)








Operating Income									$	142

(a)Segment cost of sales and direct operating costs.

(b)Segment selling, general and administrative and research and development costs.


	Three Months Ended March 31, 2024
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	422	$	458	$	348	$	130	$	1,358

Direct Costs(a)	(239)		(276)		(231)
Other Expense(b)	(53)		(62)		(44)
DRE Segment Adjusted EBITDA	130								130
WCC Segment Adjusted EBITDA			120						120
PRI Segment Adjusted EBITDA					73				73

All Other									27
Corporate									(14)

Depreciation and Amortization									(85)
Share-based Compensation									(13)







































Restructuring Charges									(3)
Other Charges, Net									(2)








Operating Income									$	233

(a)Segment cost of sales and direct operating costs.

(b)Segment selling, general and administrative and research and development costs.


	Three Months Ended March 31,
(Dollars in millions)	2025		2024
Depreciation and Amortization:
DRE	$	19	$	28
WCC	12		23
PRI	18		22

Corporate and Other	13		12
Total Depreciation and Amortization	$	62	$	85

Capital Expenditures:
DRE	$	25	$	23
WCC	8		14
PRI	31		13
Corporate and Other	13		9
Total Capital Expenditures	$	77	$	59


(Dollars in millions)	March 31, 2025		December 31, 2024
Total Assets:
DRE	$	959	$	925
WCC	1,024		1,040
PRI	788		789

Corporate and Other (a)	2,283		2,405
Total	$	5,054	$	5,159
(a) Corporate and other total 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


(Dollars in millions)	March 31, 2025		December 31, 2024
North America (a)	$	308	$	293
Latin America	175		195
Middle East/North Africa/Asia	465		443
Europe/Sub-Sahara Africa/Russia	223		219
PP&E, Net and Operating Lease Assets by Geography (b)	$	1,171	$	1,150
(a) North America consists of the U.S. and Canada.
(b) Corporate assets not allocated by geography are excluded from this total.