Business Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reconciliation of assets from segment to consolidated

		December 31
Millions of dollars		2023		2022
Total assets:
Completion and Production (a)		$	11,606	$	9,311
Drilling and Evaluation (a)		7,532		7,199
Corporate and other (b)		5,545		6,745
Total assets		$	24,683	$	23,255
(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.

Schedule of revenue from external customers and long-lived assets, by geographical areas

	Year Ended December 31
Millions of dollars	2023		2022		2021
Revenue:
North America	$	10,492	$	9,597	$	6,371
Latin America	3,987		3,197		2,362
Europe/Africa/CIS	2,861		2,691		2,719
Middle East/Asia	5,678		4,812		3,843
Total revenue	$	23,018	$	20,297	$	15,295

	December 31
Millions of dollars	2023		2022
Net property, plant, and equipment:
North America	$	2,961	$	2,424
Latin America	527		520
Europe/Africa/CIS	444		435
Middle East/Asia	968		969
Total net property, plant, and equipment	$	4,900	$	4,348

Information on business segments

The following tables present financial information on our business segments.

		Year Ended December 31
Millions of dollars		2023		2022		2021
Revenue:
Completion and Production		$	13,689	$	11,582	$	8,410
Drilling and Evaluation		9,329		8,715		6,885
Total revenue		$	23,018	$	20,297	$	15,295
Operating income:
Completion and Production		$	2,835	$	2,037	$	1,238
Drilling and Evaluation		1,543		1,292		801
Total operations		4,378		3,329		2,039
Corporate and other (a)		(244)		(256)		(227)
SAP S4 upgrade expense		(51)		—		—
Impairments and other charges (b)		—		(366)		(12)
Total operating income		$	4,083	$	2,707	$	1,800
Interest expense, net of interest income		$	(395)	$	(463)	$	(520)
Loss on Blue Chip Swap transactions (c)		(110)		—		—
Argentina currency impact (d)		(131)		(30)		6
Loss on early extinguishment of debt		—		(42)		—
Other, net		(84)		(62)		(34)
Income before income taxes		$	3,363	$	2,110	$	1,252
Capital expenditures:
Completion and Production		$	765	$	589	$	402
Drilling and Evaluation		613		420		392
Corporate and other		1		2		5
Total capital expenditures		$	1,379	$	1,011	$	799
Depreciation, depletion, and amortization:
Completion and Production		$	553	$	520	$	502
Drilling and Evaluation		430		406		388
Corporate and other		15		14		14
Total depreciation, depletion, and amortization		$	998	$	940	$	904
(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 $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.
(c)	The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations. Our execution of certain trades, known as Blue Chip Swaps, which effectively results in a parallel U.S. dollar exchange rate, resulted in a $110 million pre-tax loss for the year ended December 31, 2023.
(d)	For the year ended December 31, 2023, we incurred a loss of $131 million due to the devaluation of the currency in Argentina.