Business Segment and Geographic Information

12 Months Ended

Dec. 31, 2022

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		2022		2021		2020
Revenue:
Completion and Production		$	11,582	$	8,410	$	7,839
Drilling and Evaluation		8,715		6,885		6,606
Total revenue		$	20,297	$	15,295	$	14,445
Operating income:
Completion and Production		$	2,037	$	1,238	$	995
Drilling and Evaluation		1,292		801		569
Total operations		3,329		2,039		1,564
Corporate and other (a)		(256)		(227)		(201)
Impairments and other charges (b)		(366)		(12)		(3,799)
Total operating income (loss)		$	2,707	$	1,800	$	(2,436)
Interest expense, net of interest income		$	(375)	$	(469)	$	(505)
Loss on early extinguishment of debt		(42)		—		(168)
Other, net		(180)		(79)		(111)
Income (loss) before income taxes		$	2,110	$	1,252	$	(3,220)
Capital expenditures:
Completion and Production		$	589	$	402	$	314
Drilling and Evaluation		420		392		410
Corporate and other		2		5		4
Total capital expenditures		$	1,011	$	799	$	728
Depreciation, depletion, and amortization:
Completion and Production		$	520	$	502	$	615
Drilling and Evaluation		406		388		430
Corporate and other		14		14		13
Total depreciation, depletion, and amortization		$	940	$	904	$	1,058
(a)	Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and 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, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million attributable to Corporate and other. -For the year ended December 31, 2021, amount includes approximately $42 million attributable to Completion and Production, $9 million attributable to Drilling and Evaluation, and a $39 million net gain attributable to Corporate and other. -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.

		December 31
Millions of dollars		2022		2021
Total assets:
Completion and Production (a)		$	9,311	$	8,186
Drilling and Evaluation (a)		7,199		6,606
Corporate and other (b)		6,745		7,529
Total assets		$	23,255	$	22,321
(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)	Includes primarily cash and equivalents and deferred tax assets.

Operations by geographic region

The following tables present information by geographic area. In 2022, 2021, and 2020, based on the location of services provided and products sold, 45%, 40%, and 38%, 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, 2022 and December 31, 2021, 54% and 50%, respectively, of our property, plant, and equipment was located in the United States.

	Year Ended December 31
Millions of dollars	2022		2021		2020
Revenue:
North America	$	9,597	$	6,371	$	5,731
Latin America	3,197		2,362		1,668
Europe/Africa/CIS	2,691		2,719		2,813
Middle East/Asia	4,812		3,843		4,233
Total revenue	$	20,297	$	15,295	$	14,445

	December 31
Millions of dollars	2022		2021
Net property, plant, and equipment:
North America	$	2,424	$	2,238
Latin America	520		510
Europe/Africa/CIS	435		584
Middle East/Asia	969		994
Total net property, plant, and equipment	$	4,348	$	4,326