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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

Financial information by segment is as follows:

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

Pretax

 

 

 

 

 

and

 

 

Capital

 

 

Revenue

 

 

Income

 

 

Assets

 

 

Amortization

 

 

Investments

 

Digital & Integration

$

4,247

 

 

$

1,408

 

$

3,117

 

 

$

654

 

$

682

 

Reservoir Performance

 

7,177

 

 

 

1,452

 

 

3,802

 

 

 

403

 

 

624

 

Well Construction

 

13,357

 

 

 

2,826

 

 

6,741

 

 

 

649

 

 

745

 

Production Systems

 

12,143

 

 

 

1,898

 

 

 

7,116

 

 

 

348

 

 

 

418

 

Eliminations & other

 

(635

)

 

 

(263

)

 

1,247

 

 

 

287

 

 

143

 

Goodwill and intangible assets

 

 

 

 

 

 

 

17,605

 

 

 

 

 

 

 

Cash and short-term investments

 

 

 

 

 

 

 

4,669

 

 

 

 

 

 

 

All other assets

 

 

 

 

 

 

 

4,638

 

 

 

 

 

 

 

Corporate & other (1)

 

 

 

 

(744

)

 

 

 

 

178

 

 

 

Interest income (2)

 

 

 

 

134

 

 

 

 

 

 

 

 

Interest expense (3)

 

 

 

 

(498

)

 

 

 

 

 

 

 

 

 

Charges & credits (4)

 

 

 

 

(541

)

 

 

 

 

 

 

 

$

36,289

 

$

5,672

 

$

48,935

 

 

$

2,519

 

$

2,612

 

 

 

 

 

 

(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

 

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

 

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

 

 

(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 (2024: $39 million; 2023: $12 million; 2022: $72 million).
(3)
Interest expense excludes amounts which are included in the segments’ income (2024: $14 million; 2023: $14 million; 2022: $13 million).
(4)
See Note 3 – Charges and Credits.
Revenue by Geographic Area

Revenue by geographic area for the years ended December 31, 2024, 2023, and 2022 was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

North America

$

6,680

 

 

$

6,727

 

 

$

5,995

 

Latin America

 

6,719

 

 

 

6,645

 

 

 

5,661

 

Europe & Africa *

 

9,671

 

 

 

8,524

 

 

 

7,201

 

Middle East & Asia

 

13,026

 

 

 

11,019

 

 

 

9,033

 

Eliminations & other

 

193

 

 

 

220

 

 

 

201

 

 

$

36,289

 

 

$

33,135

 

 

$

28,091

 

 

* Includes Russia and the Caspian region
Summary of North America and International Revenue Disaggregated by Segment

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

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

North America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

1,115

 

 

$

3,127

 

 

$

5

 

 

$

4,247

 

Reservoir Performance

 

548

 

 

 

6,622

 

 

 

7

 

 

 

7,177

 

Well Construction

 

2,359

 

 

 

10,776

 

 

 

222

 

 

 

13,357

 

Production Systems

 

2,725

 

 

 

9,386

 

 

 

32

 

 

 

12,143

 

Eliminations & other

 

(67

)

 

 

(496

)

 

 

(72

)

 

 

(635

)

 

$

6,680

 

 

$

29,415

 

 

$

194

 

 

$

36,289

 

 

(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

 
Fixed Assets Less Accumulated Depreciation by Geographic Area

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

 

(Stated in millions)

 

 

 

 

 

 

 

 

2024

 

 

2023

 

North America

$

1,805

 

 

$

1,728

 

Latin America

 

1,044

 

 

 

1,079

 

Europe & Africa

 

1,721

 

 

 

1,804

 

Middle East & Asia

 

2,789

 

 

 

2,629

 

 

$

7,359

 

 

$

7,240

 
Summary of Significant Segment Expenses

Significant segment expenses, which represents the difference between segment revenue and pretax segment income, consist of the following:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

Digital &

 

 

Reservoir

 

 

Well

 

 

Production

 

 

Integration

 

 

Performance

 

 

Construction

 

 

Systems

 

Compensation

$

811

 

 

$

1,638

 

 

$

2,587

 

 

$

1,043

 

Cost of products, materials, and supplies

 

-

 

 

 

1,232

 

 

 

3,579

 

 

 

7,610

 

Depreciation and amortization

 

654

 

 

 

403

 

 

 

649

 

 

 

348

 

Allocations

 

426

 

 

 

668

 

 

 

1,011

 

 

 

529

 

Other

 

948

 

 

 

1,784

 

 

 

2,705

 

 

 

715

 

 

$

2,839

 

 

$

5,725

 

 

$

10,531

 

 

$

10,245

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

Digital &

 

 

Reservoir

 

 

Well

 

 

Production

 

 

Integration

 

 

Performance

 

 

Construction

 

 

Systems

 

Compensation

$

806

 

 

$

1,501

 

 

$

2,526

 

 

$

1,104

 

Cost of products, materials, and supplies

 

-

 

 

 

1,157

 

 

 

3,673

 

 

 

5,946

 

Depreciation and amortization

 

578

 

 

 

387

 

 

 

587

 

 

 

325

 

Allocations

 

424

 

 

 

605

 

 

 

943

 

 

 

492

 

Other

 

806

 

 

 

1,648

 

 

 

2,817

 

 

 

719

 

 

$

2,614

 

 

$

5,298

 

 

$

10,546

 

 

$

8,586

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

Digital &

 

 

Reservoir

 

 

Well

 

 

Production

 

 

Integration

 

 

Performance

 

 

Construction

 

 

Systems

 

Compensation

$

751

 

 

$

1,366

 

 

$

2,247

 

 

$

976

 

Cost of products, materials, and supplies

 

-

 

 

 

977

 

 

 

3,273

 

 

 

4,732

 

Depreciation and amortization

 

504

 

 

 

386

 

 

 

524

 

 

 

311

 

Allocations

 

406

 

 

 

571

 

 

 

828

 

 

 

470

 

Other

 

707

 

 

 

1,372

 

 

 

2,323

 

 

 

625

 

 

$

2,368

 

 

$

4,672

 

 

$

9,195

 

 

$

7,114