Business Segment and Geographic Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure

Business Segment 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.

The following table presents information on our business segments.

		Three Months Ended March 31
Millions of dollars		2023		2022
Revenue:
Completion and Production		$	3,409	$	2,353
Drilling and Evaluation		2,268		1,931
Total revenue		$	5,677	$	4,284
Operating income:
Completion and Production		$	666	$	296
Drilling and Evaluation		369		294
Total operations		1,035		590
Corporate and other (a)		(58)		(57)
Impairments and other charges (b)		—		(22)
Total operating income		$	977	$	511
Interest expense, net of interest income		(79)		(107)
Loss on early extinguishment of debt		—		(42)
Other, net		(69)		(30)
Income before income taxes		$	829	$	332
(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)	For the three months ended March 31, 2022, the amount includes a $6 million charge attributable to Completions and Production, a $17 million charge attributable to Drilling and Evaluation, and a $1 million gain attributable to Corporate and other.