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Acquisitions and Dispositions (Notes)
12 Months Ended
Dec. 31, 2016
Acquisitions and Dispositions [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures [Text Block]
Acquisitions and Dispositions
    
Termination of Baker Hughes acquisition
In November 2014, we entered into a merger agreement with Baker Hughes to acquire all outstanding shares of Baker Hughes in a stock and cash transaction. On April 30, 2016, we and Baker Hughes mutually terminated our merger agreement primarily because of the challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics.

In April 2015, we had announced our decision to market for sale our Fixed Cutter and Roller Cone Drill Bits, our Directional Drilling, and our Logging-While-Drilling/Measurement-While-Drilling businesses in connection with the anticipated Baker Hughes transaction. Accordingly, beginning in April 2015, the assets and liabilities for these businesses, which are included within our Drilling and Evaluation operating segment, were classified as held for sale and the corresponding depreciation and amortization expense ceased at that time. Since our proposed divestitures no longer met the assets held for sale accounting criteria at March 31, 2016, we reclassified these businesses to assets held and used in the consolidated balance sheets for both periods presented. We recorded corresponding charges during 2016 totaling $464 million within "Baker Hughes related costs and termination fee" in our consolidated statements of operations, which included $329 million of accumulated unrecognized depreciation and amortization expense for these businesses during the period the associated assets were classified as held for sale, along with $135 million of capitalized and other divestiture-related costs. Beginning April 1, 2016, all depreciation and amortization expense associated with these businesses were included in operating costs and expenses on our consolidated statements of operations.

The reclassification of assets held for sale to assets held and used resulted in the following changes from amounts previously reported on our consolidated balance sheets as of December 31, 2015: $2.1 billion decrease in "Assets held for sale;" $576 million increase in "Inventories;" $1.2 billion increase in "Property, plant and equipment;" $276 million increase in "Goodwill;" $57 million increase in "Other assets;" $24 million increase in "Accrued employee compensation and benefits;" $46 million decrease in "Other current liabilities;" and $22 million increase in "Employee compensation and benefits."

In conjunction with the termination of our merger agreement, we paid Baker Hughes a termination fee of $3.5 billion in May 2016 and recognized this expense during the second quarter. The termination also triggered a mandatory redemption of $2.5 billion of the senior notes we had issued in November 2015 in contemplation of the transaction. We redeemed those notes in May 2016 using cash on hand at a price of 101% of their principal amount, plus accrued and unpaid interest. The notes redeemed included the $1.25 billion of 2.7% senior notes due in 2020 and $1.25 billion of 3.375% senior notes due in 2022. The redemption resulted in $41 million of fees and associated expenses included in interest expense on our consolidated statements of operations for the year ended December 31, 2016.