Business Segment and Geographic Information

3 Months Ended

Mar. 31, 2012

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, such as the $300 million loss contingency related to the Macondo well incident recorded in "Corporate and other" during the first quarter of 2012.

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 March 31
Millions of dollars	2012			2011
Revenue:
Completion and Production	$	4,290		$	3,172
Drilling and Evaluation		2,578			2,110
Total revenue	$	6,868		$	5,282
Operating income:
Completion and Production	$	1,036		$	660
Drilling and Evaluation		368			230
Total operations		1,404			890
Corporate and other		(381	)		(76	)
Total operating income	$	1,023		$	814
Interest expense, net of interest income		(74	)		(69	)
Other, net		(7	)		(4	)
Income from continuing operations before income taxes	$	942		$	741

Receivables

As of March 31, 2012, 43% of our gross trade receivables were from customers in the United States. As of December 31, 2011, 45% of our gross trade receivables were from customers in the United States.