Business Segment and Geographic Information

6 Months Ended

Jun. 30, 2011

Business Segment and Geographic Information [Abstract]

Business Segment and Geographic Information [Text Block]

Note 2. Business Segment and Geographic Information

We operate under two divisions, which form the basis for the two operating segments we report: the Completion and Production segment and the Drilling and Evaluation segment.

The following table presents information on our business segments. "Corporate and other" includes expenses related to support functions and corporate executives. Also included are certain gains and losses not attributable to a particular business segment.

Intersegment revenue was immaterial. Our equity in earnings and losses of unconsolidated affiliates that are accounted for by the equity method are included in revenue and operating income of the applicable segment.

	Three Months Ended						Six Months Ended
	June 30						June 30
Millions of dollars	2011			2010			2011			2010
Revenue:
Completion and Production	$	3,618		$	2,393		$	6,790		$	4,357
Drilling and Evaluation		2,317			1,994			4,427			3,791
Total revenue	$	5,935		$	4,387		$	11,217		$	8,148
Operating income:
Completion and Production	$	918		$	497		$	1,578		$	735
Drilling and Evaluation		324			318			554			588
Total operations		1,242			815			2,132			1,323
Corporate and other		(81	)		(53	)		(157	)		(112	)
Total operating income	$	1,161		$	762		$	1,975		$	1,211
Interest expense, net of interest income		(63	)		(76	)		(132	)		(152	)
Other, net		(5	)		(9	)		(9	)		(49	)
Income from continuing operations before
income taxes	$	1,093		$	677		$	1,834		$	1,010

Receivables

As of June 30, 2011, 43% of our gross trade receivables were from customers in the United States. As of December 31, 2010, 36% of our gross trade receivables were from customers in the United States.