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Impairments and Other Charges

3 Months Ended

Mar. 31, 2025

The following table presents various pre-tax charges we recorded during the three months ended March 31, 2025,

which are reflected within “Impairments and other charges” on our condensed consolidated statements of operations.


	Three Months Ended
	March 31,
Millions of dollars	2025
Severance costs	$107
Impairment of assets held for sale	104
Impairment of real estate facilities	53
Other	92
Total impairments and other charges	$356

Of the $356 million pre-tax charges recorded during the three months ended March 31, 2025, $201 million was

attributable to our Completion and Production segment, $85 million was attributable to our Drilling and Evaluation segment,

and $70 million was attributable to Corporate and other.

During the first quarter of 2025, we recorded $107 million in severance expense as we rationalized global headcount to

align with activity levels and $104 million of additional impairment associated with a strategic decision to market for sale a

portion of our chemical business. Additionally, we recognized a $53 million impairment related to facility closures and lease

terminations. Other charges of $92 million is primarily related to legacy environmental remediation cost estimate increases.

During the three months ended March 31, 2024, there were no amounts recorded in impairments and other charges.