Business Segment and Geographic Information

9 Months Ended

Sep. 30, 2011

Business Segment and Geographic Information [Abstract]

Business Segment and Geographic Information

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 of accounting are included in revenue and operating income of the applicable segment.

	Three Months Ended						Nine Months Ended
	September 30						September 30
Millions of dollars	2011			2010			2011			2010
Revenue:
Completion and Production	$	4,025		$	2,655		$	10,815		$	7,012
Drilling and Evaluation		2,523			2,010			6,950			5,801
Total revenue	$	6,548		$	4,665		$	17,765		$	12,813
Operating income:
Completion and Production	$	1,068		$	609		$	2,646		$	1,344
Drilling and Evaluation		369			271			923			859
Total operations		1,437			880			3,569			2,203
Corporate and other		(105	)		(62	)		(262	)		(174	)
Total operating income	$	1,332		$	818		$	3,307		$	2,029
Interest expense, net of interest income		(62	)		(76	)		(194	)		(228	)
Other, net		(9	)		(7	)		(18	)		(56	)
Income from continuing operations before
income taxes	$	1,261		$	735		$	3,095		$	1,745

Receivables

As of September 30, 2011, 46% 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.