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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

Financial information by segment is as follows:

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

Pretax

 

 

 

 

 

and

 

 

Capital

 

 

Revenue

 

 

Income

 

 

Assets

 

 

Amortization

 

 

Investments

 

Digital & Integration

$

3,871

 

 

$

1,257

 

$

3,089

 

 

$

578

 

$

660

 

Reservoir Performance

 

6,561

 

 

 

1,263

 

 

3,491

 

 

 

387

 

 

514

 

Well Construction

 

13,478

 

 

 

2,932

 

 

7,129

 

 

 

587

 

 

908

 

Production Systems

 

9,831

 

 

 

1,245

 

 

 

6,640

 

 

 

325

 

 

 

384

 

Eliminations & other

 

(606

)

 

 

(174

)

 

1,352

 

 

 

277

 

 

133

 

Pretax segment operating income

 

 

 

 

6,523

 

 

 

 

 

 

 

 

Goodwill and intangible assets

 

 

 

 

 

 

 

17,323

 

 

 

 

 

 

 

Cash and short-term investments

 

 

 

 

 

 

 

3,989

 

 

 

 

 

 

 

All other assets

 

 

 

 

 

 

 

4,944

 

 

 

 

 

 

 

Corporate & other (1)

 

 

 

 

(729

)

 

 

 

 

158

 

 

 

Interest income (2)

 

 

 

 

87

 

 

 

 

 

 

 

 

Interest expense (3)

 

 

 

 

(489

)

 

 

 

 

 

 

 

 

 

Charges & credits (4)

 

 

 

 

(110

)

 

 

 

 

 

 

 

$

33,135

 

$

5,282

 

$

47,957

 

 

$

2,312

 

$

2,599

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

Pretax

 

 

 

 

 

and

 

 

Capital

 

 

Revenue

 

 

Income

 

 

Assets

 

 

Amortization

 

 

Investments

 

Digital & Integration

$

3,725

 

 

$

1,357

 

$

3,132

 

 

$

504

 

$

689

 

Reservoir Performance

 

5,553

 

 

 

881

 

 

3,159

 

 

 

386

 

 

478

 

Well Construction

 

11,397

 

 

 

2,202

 

 

6,481

 

 

 

524

 

 

687

 

Production Systems

 

7,862

 

 

 

748

 

 

 

5,603

 

 

 

311

 

 

 

346

 

Eliminations & other

 

(446

)

 

 

(177

)

 

1,426

 

 

 

271

 

 

102

 

Pretax segment operating income

 

 

 

 

5,011

 

 

 

 

 

 

 

 

Goodwill and intangible assets

 

 

 

 

 

 

 

15,974

 

 

 

 

 

 

 

Cash and short-term investments

 

 

 

 

 

 

 

2,897

 

 

 

 

 

 

 

All other assets

 

 

 

 

 

 

 

4,463

 

 

 

 

 

 

 

Corporate & other (1)

 

 

 

 

(637

)

 

 

 

 

151

 

 

 

Interest income (2)

 

 

 

 

27

 

 

 

 

 

 

 

 

Interest expense (3)

 

 

 

 

(477

)

 

 

 

 

 

 

 

 

 

Charges & credits (4)

 

 

 

 

347

 

 

 

 

 

 

 

 

$

28,091

 

$

4,271

 

$

43,135

 

 

$

2,147

 

$

2,302

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

Pretax

 

 

 

 

 

and

 

 

Capital

 

 

Revenue

 

 

Income

 

 

Assets

 

 

Amortization

 

 

Investments

 

Digital & Integration

$

3,290

 

 

$

1,141

 

$

3,134

 

 

$

446

 

$

516

 

Reservoir Performance

 

4,599

 

 

 

648

 

 

2,923

 

 

 

415

 

 

348

 

Well Construction

 

8,706

 

 

 

1,195

 

 

4,714

 

 

 

537

 

 

424

 

Production Systems

 

6,710

 

 

 

634

 

 

 

4,684

 

 

 

302

 

 

 

267

 

Eliminations & other

 

(376

)

 

 

(253

)

 

1,501

 

 

 

269

 

 

99

 

Pretax segment operating income

 

 

 

 

3,365

 

 

 

 

 

 

 

 

Goodwill and intangible assets

 

 

 

 

 

 

 

16,201

 

 

 

 

 

 

 

Cash and short-term investments

 

 

 

 

 

 

 

3,139

 

 

 

 

 

 

 

All other assets

 

 

 

 

 

 

 

5,215

 

 

 

 

 

 

 

Corporate & other (1)

 

 

 

 

(573

)

 

 

 

 

151

 

 

 

Interest income (2)

 

 

 

 

31

 

 

 

 

 

 

 

 

Interest expense (3)

 

 

 

 

(514

)

 

 

 

 

 

 

 

 

 

Charges & credits (4)

 

 

 

 

65

 

 

 

 

 

 

 

 

$

22,929

 

$

2,374

 

$

41,511

 

 

$

2,120

 

$

1,654

 

 

(1)
Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.
(2)
Interest income excludes amounts which are included in the segments’ income (2023: $12 million; 2022: $72 million; 2021: $2 million).
(3)
Interest expense excludes amounts which are included in the segments’ income (2023: $14 million; 2022: $13 million; 2021: $15 million) and $10 million interest expense included in Charges and credits in 2021.
(4)
See Note 3 – Charges and Credits.
Revenue by Geographic Area

Revenue by geographic area for the years ended December 31, 2023, 2022, and 2021 was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

North America

$

6,727

 

 

$

5,995

 

 

$

4,466

 

Latin America

 

6,645

 

 

 

5,661

 

 

 

4,459

 

Europe & Africa *

 

8,524

 

 

 

7,201

 

 

 

5,778

 

Middle East & Asia

 

11,019

 

 

 

9,033

 

 

 

8,059

 

Eliminations & other

 

220

 

 

 

201

 

 

 

167

 

 

$

33,135

 

 

$

28,091

 

 

$

22,929

 
Summary of North America and International Revenue Disaggregated by Segment

North America and International revenue disaggregated by segment was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

North America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

984

 

 

$

2,881

 

 

$

6

 

 

$

3,871

 

Reservoir Performance

 

498

 

 

 

6,057

 

 

 

6

 

 

 

6,561

 

Well Construction

 

2,709

 

 

 

10,530

 

 

 

239

 

 

 

13,478

 

Production Systems

 

2,598

 

 

 

7,219

 

 

 

14

 

 

 

9,831

 

Eliminations & other

 

(62

)

 

 

(499

)

 

 

(45

)

 

 

(606

)

 

$

6,727

 

 

$

26,188

 

 

$

220

 

 

$

33,135

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

North America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

1,069

 

 

$

2,651

 

 

$

5

 

 

$

3,725

 

Reservoir Performance

 

455

 

 

 

5,091

 

 

 

7

 

 

 

5,553

 

Well Construction

 

2,311

 

 

 

8,875

 

 

 

211

 

 

 

11,397

 

Production Systems

 

2,176

 

 

 

5,675

 

 

 

11

 

 

 

7,862

 

Eliminations & other

 

(16

)

 

 

(397

)

 

 

(33

)

 

 

(446

)

 

$

5,995

 

 

$

21,895

 

 

$

201

 

 

$

28,091

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

North America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

812

 

 

$

2,474

 

 

$

4

 

 

$

3,290

 

Reservoir Performance

 

329

 

 

 

4,266

 

 

 

4

 

 

 

4,599

 

Well Construction

 

1,485

 

 

 

7,025

 

 

 

196

 

 

 

8,706

 

Production Systems

 

1,832

 

 

 

4,865

 

 

 

13

 

 

 

6,710

 

Eliminations & other

 

8

 

 

 

(334

)

 

 

(50

)

 

 

(376

)

 

$

4,466

 

 

$

18,296

 

 

$

167

 

 

$

22,929

 
Fixed Assets Less Accumulated Depreciation by Geographic Area

Fixed Assets less accumulated depreciation by geographic area was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

2023

 

 

2022

 

North America

$

1,469

 

 

$

1,459

 

Latin America

 

1,071

 

 

 

913

 

Europe & Africa

 

1,724

 

 

 

1,668

 

Middle East & Asia

 

2,468

 

 

 

2,099

 

Unallocated

 

508

 

 

 

468

 

 

$

7,240

 

 

$

6,607