Business Segment and Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business Segment and Geographic Information

Business Segment and Geographic InformationWe 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. Our equity in earnings and losses of unconsolidated affiliates that are accounted for using the equity method of accounting are included within cost of services and cost of sales on our statements of operations, which is part of operating income of the applicable segment.

Operations by business segment

The following tables present financial information on our business segments.

	Year Ended December 31
Millions of dollars	2020		2019		2018
Revenue:
Completion and Production	$	7,839	$	14,031	$	15,973
Drilling and Evaluation	6,606		8,377		8,022
Total revenue	$	14,445	$	22,408	$	23,995
Operating income:
Completion and Production	$	995	$	1,671	$	2,278
Drilling and Evaluation	569		642		745
Total operations	1,564		2,313		3,023
Corporate and other (a)	(201)		(255)		(291)
Impairments and other charges (b)	(3,799)		(2,506)		(265)
Total operating income (loss)	$	(2,436)	$	(448)	$	2,467
Interest expense, net of interest income	$	(505)	$	(569)	$	(554)
Loss on early extinguishment of debt	(168)		—		—
Other, net	(111)		(105)		(99)
Income (loss) before income taxes	$	(3,220)	$	(1,122)	$	1,814
Capital expenditures:
Completion and Production	$	314	$	800	$	1,364
Drilling and Evaluation	410		728		657
Corporate and other	4		2		5
Total	$	728	$	1,530	$	2,026
Depreciation, depletion and amortization:
Completion and Production	$	615	$	1,049	$	1,058
Drilling and Evaluation	430		552		512
Corporate and other	13		24		36
Total	$	1,058	$	1,625	$	1,606

(a) Includes certain expenses not attributable to a business segment, such as costs related to support functions and corporate executives, operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions.

(b) Impairments and other charges are as follows:

    -For the year ended December 31, 2020, amount includes approximately $2.4 billion attributable to Completion and Production, $1.4 billion attributable to Drilling and Evaluation, and $62 million attributable to Corporate and other.

-For the year ended December 31, 2019, amount includes approximately $1.6 billion attributable to Completion and Production, $849 million attributable to Drilling and Evaluation, and $56 million attributable to Corporate and other.

    -For the years ended December 31, 2018, we recorded aggregate charges of $265 million to write-down our investment in Venezuela.

	December 31
Millions of dollars	2020		2019
Total assets:
Completion and Production (a)	$	7,924	$	11,894
Drilling and Evaluation (a)	6,371		8,059
Corporate and other (b)	6,385		5,424
Total	$	20,680	$	25,377

(a) Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill.

(b) Corporate and other primarily include cash and equivalents and deferred tax assets.

Operations by geographic region

The following tables present information by geographic area. In 2020, 2019, and 2018, based on the location of services provided and products sold, 38%, 51%, and 58%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue or property, plant, and equipment during the periods presented. As of December 31, 2020 and December 31, 2019, 49% and 59% of our property, plant, and equipment was located in the United States.

	Year Ended December 31
Millions of dollars	2020		2019		2018
Revenue:
North America	$	5,731	$	11,884	$	14,431
Latin America	1,668		2,364		2,065
Europe/Africa/CIS	2,813		3,285		2,945
Middle East/Asia	4,233		4,875		4,554
Total	$	14,445	$	22,408	$	23,995

	December 31
Millions of dollars	2020		2019
Net property, plant and equipment:
North America	$	2,211	$	4,666
Latin America	544		754
Europe/Africa/CIS	602		772
Middle East/Asia	968		1,118
Total	$	4,325	$	7,310