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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Revenue $ 2,975,000,000 $ 5,550,000,000 $ 11,208,000,000 $ 17,217,000,000
Operating costs and expenses:        
Impairments and other charges 133,000,000 [1] 0 3,353,000,000 [1] 308,000,000 [1]
General and administrative 41,000,000 53,000,000 138,000,000 168,000,000
Total operating costs and expenses 2,833,000,000 5,014,000,000 13,548,000,000 16,013,000,000
Operating income 142,000,000 536,000,000 (2,340,000,000) 1,204,000,000
Interest expense, net of interest income (122,000,000) (141,000,000) (380,000,000) (428,000,000)
Interest income 11,000,000 6,000,000 28,000,000 18,000,000
Loss on early extinguishment of debt 0 0 (168,000,000) [2] 0
Other, net (21,000,000) (23,000,000) (92,000,000) (61,000,000)
Income (loss) from continuing operations before income taxes (1,000,000) 372,000,000 (2,980,000,000) 715,000,000
Income tax (provision) benefit (18,000,000) (76,000,000) 265,000,000 (190,000,000)
Net income (loss) (19,000,000) 296,000,000 (2,715,000,000) 525,000,000
Net (income) loss attributable to noncontrolling interest 2,000,000 (1,000,000) 5,000,000 (3,000,000)
Net income (loss) attributable to company $ (17,000,000) $ 295,000,000 $ (2,710,000,000) $ 522,000,000
Basic and diluted net income per share $ (0.02) $ 0.34 $ (3.08) $ 0.60
Weighted Average Number of Shares Outstanding, Basic 882 876 879 874
Weighted Average Number of Shares Outstanding, Diluted 882 876 879 875
Services [Member]        
Revenue:        
Revenue $ 2,068,000,000 $ 4,207,000,000 $ 7,940,000,000 $ 13,118,000,000
Operating costs and expenses:        
Cost of services and sales 1,904,000,000 3,860,000,000 7,394,000,000 12,220,000,000
Product sales [Member]        
Revenue:        
Revenue 907,000,000 1,343,000,000 3,268,000,000 4,099,000,000
Operating costs and expenses:        
Cost of services and sales $ 755,000,000 $ 1,101,000,000 $ 2,663,000,000 $ 3,317,000,000
[1] For the three months ended September 30, 2020, amount includes approximately $90 million attributable to Completion and Production, $40 million attributable to Drilling and Evaluation, and $3 million attributable to Corporate and other. For the nine months ended September 30, 2020, amount includes $2.1 billion attributable to Completion and Production, $1.2 billion attributable to Drilling and Evaluation, and $44 million attributable to Corporate and other. For the nine months ended September 30, 2019, amount includes $127 million attributable to Completion and Production, $153 million attributable to Drilling and Evaluation, and $28 million attributable to Corporate and other. See Note 2 for further discussion on these impairments and other charges. There were no impairments and other charges recorded during the three months ended September 30, 2019.
[2] For the nine months ended September 30, 2020, amount includes a $168 million loss on extinguishment of debt related to the early repurchase of senior notes. See Note 6 for further discussion on this charge.