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Segment Information
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
Our operating segments are organized based on the nature of markets and customers. Following the Transactions, we revised our segment structure and began to manage and report our operating results through four operating segments as defined below. We have reflected this revised structure for all historical periods presented.
OILFIELD SERVICES

Oilfield Services provides equipment and services ranging from well evaluation to decommissioning. Products and services include diamond and tri-cone drill bits, drilling services (including directional drilling technology, measurement while drilling & logging while drilling), downhole completion tools and systems, wellbore intervention tools and services, wireline services, drilling and completions fluids, oilfield and industrial chemicals, pressure pumping, and artificial lift technologies (including electrical submersible pumps).
OILFIELD EQUIPMENT

Oilfield Equipment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the subsea wellhead to the surface. Products and services include pressure control equipment and services, Subsea production systems and services, drilling equipment, and flexible pipeline systems. Oilfield Equipment operation designs and manufactures onshore and offshore drilling and production systems and equipment for floating production platforms and provides a full range of services related to onshore and offshore drilling activities.
TURBOMACHINERY & PROCESS SOLUTIONS
Turbomachinery & Process Solutions provides equipment and related services for mechanical-drive, compression and power-generation applications across the oil and gas industry as well as products and services to serve the downstream segments of the industry including refining, petrochemical, distributed gas, flow and process control and other industrial applications.  The Turbomachinery & Process Solutions portfolio includes drivers (aero-derivative gas turbines, heavy-duty gas turbines and synchronous and induction electric motors), compressors (centrifugal and axial, direct drive high speed, integrated, subsea compressors, turbo expanders and reciprocating), turn-key solutions (industrial modules and waste heat recovery), pumps, valves, and compressed natural gas (CNG) and small-scale liquefied natural gas (LNG) solutions used primarily for shale oil and gas field development.
DIGITAL SOLUTIONS
Digital Solutions provides equipment and services for a wide range of industries, including oil & gas, power generation, aerospace, metals, and transportation. The offerings include sensor-based measurement, non-destructive testing and inspection, turbine, generator and plant controls and condition monitoring, as well as pipeline integrity solutions.
Summarized financial information is shown in the following tables. Consistent accounting policies have been applied by all segments within the Company, for all reporting periods.
The performance of our operating segments is evaluated based on segment operating income (loss), which is defined as income (loss) before income taxes and equity in loss of affiliate and before the following: net interest expense, net other non operating income (loss), corporate expenses, restructuring, impairment and other charges, inventory impairments, merger and related costs, and certain gains and losses not allocated to the operating segments.
 
Three Months Ended
Three Months Ended
 
September 30, 2017
September 30, 2016
Segments
Revenue
Income (Loss) before Income Taxes
Revenue
Income (Loss) before Income Taxes
Oilfield Services
$
2,635

$
75

$
192

$
(66
)
Oilfield Equipment
600

(43
)
829

61

Turbomachinery & Process Solutions
1,511

210

1,480

258

Digital Solutions
629

87

523

101

Total segment
5,375

329

3,024

354

Corporate

(89
)

(75
)
Inventory impairment (a)

(12
)

(24
)
Restructuring, impairment and other

(191
)

(77
)
Merger and related costs

(159
)

(2
)
Other non operating income (loss), net

(3
)

6

Interest expense, net

(42
)

(21
)
Total
$
5,375

$
(167
)
$
3,024

$
161


 
Nine Months Ended
Nine Months Ended
 
September 30, 2017
September 30, 2016
Segments
Revenue
Income (Loss) before Income Taxes
Revenue
Income (Loss) before Income Taxes
Oilfield Services
$
3,077

$
(42
)
$
599

$
(164
)
Oilfield Equipment
1,965

9

2,693

190

Turbomachinery & Process Solutions
4,841

707

4,950

942

Digital Solutions
1,613

226

1,511

240

Total segment
11,496

900

9,753

1,208

Corporate

(282
)

(240
)
Inventory impairment (a)

(31
)

(131
)
Restructuring, impairment and other

(292
)

(452
)
Merger and related costs

(310
)

(10
)
Other non operating income (loss), net

65


18

Interest expense, net

(75
)

(74
)
Total
$
11,496

$
(25
)
$
9,753

$
319


(a) 
Charges for inventory impairments are reported in the "Cost of goods sold" caption of the condensed consolidated and combined statements of income (loss).
The following table presents total assets by segment:
Segments
September 30, 2017
December 31, 2016
Oilfield Services (a)
$
33,505

$
3,266

Oilfield Equipment
8,887

9,406

Turbomachinery & Process Solutions
9,075

8,565

Digital Solutions
3,644

3,113

Total segment
55,111

24,350

Corporate and eliminations (b)
(301
)
(2,629
)
Total
$
54,810

$
21,721

(a) 
Goodwill acquired as a result of the Baker Hughes acquisition have preliminarily been allocated to Oilfield Services. See "Note 6. Goodwill and Other Intangible Assets" for further details.
(b) 
Corporate and eliminations in total segment assets include adjustments of intercompany investments and receivables that are reflected within the total assets of the four reportable segments.