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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2025

 

First Quarter 2024

 

 

 

Income

 

 

 

Income

 

 

Revenue

 

 

Before Taxes

 

 

Revenue

 

 

Before Taxes

 

Digital & Integration

$

1,006

 

 

$

306

 

$

953

 

 

$

254

 

Reservoir Performance

 

1,700

 

 

 

282

 

 

1,725

 

 

 

339

 

Well Construction

 

2,977

 

 

 

589

 

 

3,368

 

 

 

690

 

Production Systems

 

2,938

 

 

 

475

 

 

 

2,818

 

 

 

400

 

Eliminations & other

 

(131

)

 

 

(96

)

 

(157

)

 

 

(34

)

 

 

 

 

1,556

 

 

 

 

 

1,649

 

Corporate & other (1)

 

 

 

 

(179

)

 

 

 

 

(191

)

Interest income (2)

 

 

 

 

36

 

 

 

 

 

34

 

Interest expense (3)

 

 

 

 

(144

)

 

 

 

 

 

(110

)

Charges and credits (4)

 

 

 

 

(206

)

 

 

 

 

(25

)

$

8,490

 

$

1,063

 

$

8,707

 

$

1,357

 

 

(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 that are included in the segments’ income ($- million in 2025; $4 million in 2024).
(3)
Interest expense excludes amounts that are included in the segments’ income ($3 million in 2025; $3 million in 2024).
(4)
See Note 2 – Charges and Credits.
Revenue by Geographic Area

Revenue by geographic area was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

First Quarter

 

 

2025

 

 

2024

 

North America

$

1,719

 

$

1,598

 

Latin America

 

1,495

 

 

1,654

 

Europe & Africa (1)

 

2,235

 

 

2,322

 

Middle East & Asia

 

2,997

 

 

 

3,080

 

Other

 

44

 

 

 

53

 

$

8,490

 

$

8,707

 

 

(1)
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)

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2025

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

289

 

 

$

717

 

$

-

 

$

1,006

 

Reservoir Performance

 

142

 

 

 

1,557

 

 

 

1

 

 

1,700

 

Well Construction

 

541

 

 

 

2,381

 

 

 

55

 

 

2,977

 

Production Systems

 

768

 

 

 

2,166

 

 

4

 

 

 

2,938

 

Eliminations & other

 

(21

)

 

 

(94

)

 

(16

)

 

(131

)

 

$

1,719

 

 

$

6,727

 

$

44

 

$

8,490

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2024

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

236

 

 

$

717

 

$

-

 

$

953

 

Reservoir Performance

 

130

 

 

 

1,592

 

 

 

3

 

 

 

1,725

 

Well Construction

 

604

 

 

 

2,707

 

 

 

57

 

 

 

3,368

 

Production Systems

 

647

 

 

 

2,164

 

 

7

 

 

2,818

 

Eliminations & other

 

(19

)

 

 

(124

)

 

(14

)

 

(157

)

$

1,598

 

$

7,056

 

$

53

 

$

8,707

 

 
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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2025

 

 

Digital &

 

 

Reservoir

 

 

Well

 

 

Production

 

 

Integration

 

 

Performance

 

 

Construction

 

 

Systems

 

Compensation

$

206

 

 

$

407

 

 

$

604

 

 

$

241

 

Cost of products, materials, and supplies

 

-

 

 

 

309

 

 

 

802

 

 

 

1,820

 

Depreciation and amortization

 

166

 

 

 

104

 

 

 

164

 

 

 

90

 

Allocations

 

101

 

 

 

165

 

 

 

250

 

 

 

137

 

Other

 

227

 

 

 

433

 

 

 

568

 

 

 

175

 

 

$

700

 

 

$

1,418

 

 

$

2,388

 

 

$

2,463

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2024

 

 

Digital &

 

 

Reservoir

 

 

Well

 

 

Production

 

 

Integration

 

 

Performance

 

 

Construction

 

 

Systems

 

Compensation

$

221

 

 

$

392

 

 

$

654

 

 

$

294

 

Cost of products, materials, and supplies

 

-

 

 

 

298

 

 

 

926

 

 

 

1,761

 

Depreciation and amortization

 

148

 

 

 

99

 

 

 

156

 

 

 

82

 

Allocations

 

107

 

 

 

162

 

 

 

251

 

 

 

129

 

Other

 

223

 

 

 

435

 

 

 

691

 

 

 

152

 

 

$

699

 

 

$

1,386

 

 

$

2,678

 

 

$

2,418