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Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information
2 – Segment Information

Financial information by segment is summarized below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2022 Form 10-K. We have three reportable segments: (1) Drilling and Evaluation “DRE”, (2) Well Construction and Completions “WCC”, and (3) Production and Intervention “PRI”.

Our primary measure of segment profitability is segment adjusted EBITDA, which is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. Research and development expenses are included in segment adjusted EBITDA. All other includes results from non-core business activities (including integrated services and projects), and corporate includes overhead support and centrally managed or shared facilities costs. All other and corporate do not individually meet the criteria for segment reporting.
Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in millions)2023202220232022
Revenues:
DRE Revenues$388 $348 $1,154 $957 
WCC Revenues459 391 1,320 1,118 
PRI Revenues371 357 1,086 988 
All Other95 24 213 59 
  Total Revenues$1,313 $1,120 $3,773 $3,122 
Operating Income:
DRE Segment Adjusted EBITDA$111 $85 $325 $213 
WCC Segment Adjusted EBITDA119 78 324 212 
PRI Segment Adjusted EBITDA86 66 235 173 
All Other25 
Corporate(18)(18)(44)(52)
Depreciation and Amortization(83)(88)(244)(265)
Share-Based Compensation (9)(5)(26)(18)
Other Credits (Charges)
— (25)
Operating Income$218 $121 $604 $243