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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Services $ 2,640 $ 4,271 $ 5,625 $ 9,461
Product sales 1,195 1,648 2,408 3,508
Total revenue 3,835 5,919 8,033 12,969
Operating costs and expenses:        
Cost of services 2,777 3,971 5,733 8,794
Cost of sales 955 1,262 1,924 2,724
Baker Hughes related costs and termination fee 3,519 83 4,057 122
Impairments and other charges [1] 423 306 3,189 1,514
General and administrative 41 43 89 109
Total operating costs and expenses 7,715 5,665 14,992 13,263
Operating income (loss) (3,880) 254 (6,959) (294)
Interest expense, net of interest income [2] (196) (106) (361) (212)
Other, net (31) (23) (78) (247)
Income (loss) from continuing operations before income taxes (4,107) 125 (7,398) (753)
Income tax benefit (provision) 902 (71) 1,777 170
Income (loss) from continuing operations (3,205) 54 (5,621) (583)
Income (loss) from discontinued operations, net of income tax (provision) benefit 0 (1) (2) (5)
Net income (loss) (3,205) 53 (5,623) (588)
Net (income) loss attributable to noncontrolling interest (3) 1 3 (1)
Net income (loss) attributable to company (3,208) 54 (5,620) (589)
Amounts attributable to company shareholders:        
Income (loss) from continuing operations (3,208) 55 (5,618) (584)
Income (loss) from discontinued operations, net 0 (1) (2) (5)
Net income (loss) attributable to company $ (3,208) $ 54 $ (5,620) $ (589)
Basic income per share attributable to company shareholders:        
Income (loss) from continuing operations (in dollars per share) $ (3.73) $ 0.06 $ (6.54) $ (0.69)
Income (loss) from discontinued operations, net (in dollars per share) 0.00 0.00 0.00 (0.01)
Net income (loss) per share (in dollars per share) (3.73) 0.06 (6.54) (0.70)
Diluted income per share attributable to company shareholders:        
Income (loss) from continuing operations (in dollars per share) (3.73) 0.06 (6.54) (0.69)
Income (loss) from discontinued operations, net (in dollars per share) 0.00 0.00 0.00 (0.01)
Net (loss) income per share (in dollars per share) (3.73) 0.06 (6.54) (0.70)
Cash dividends per share $ 0.18 $ 0.18 $ 0.36 $ 0.36
Basic weighted average common shares outstanding (in shares) 860 852 859 851
Diluted weighted average common shares outstanding (in shares) 860 854 859 851
[1] Impairments and other charges are as follows:-For the three months ended June 30, 2016, includes $290 million attributable to Completion and Production, $129 million attributable to Drilling and Evaluation, and $4 million attributable to Corporate and other. -For the six months ended June 30, 2016, includes $2.0 billion attributable to Completion and Production, $1.1 billion attributable to Drilling and Evaluation, and $8 million attributable to Corporate and other. -For the three months ended June 30, 2015, includes $211 million attributable to Completion and Production, $89 million attributable to Drilling and Evaluation, and $6 million attributable to Corporate and other. -For the six months ended June 30, 2015, includes $720 million attributable to Completion and Production, $727 million attributable to Drilling and Evaluation, and $67 million attributable to Corporate and other.
[2] Includes $41 million of debt redemption fees and associated expenses related to the $2.5 billion of debt mandatorily redeemed during the second quarter of 2016, as well as additional interest resulting from the senior notes issued in late 2015, in the three and six months ended June 30, 2016.