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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2023

 

Second Quarter 2022

 

 

 

Income

 

 

 

Income

 

 

Revenue

 

 

Before Taxes

 

 

Revenue

 

 

Before Taxes

 

Digital & Integration

$

947

 

 

$

322

 

$

955

 

 

$

379

 

Reservoir Performance

 

1,643

 

 

 

306

 

 

1,333

 

 

 

195

 

Well Construction

 

3,362

 

 

 

731

 

 

2,686

 

 

 

470

 

Production Systems

 

2,313

 

 

 

278

 

 

 

1,893

 

 

 

171

 

Eliminations & other

 

(166

)

 

 

(56

)

 

(94

)

 

 

(56

)

Pretax segment operating income

 

 

 

 

1,581

 

 

 

 

 

1,159

 

Corporate & other (1)

 

 

 

 

(183

)

 

 

 

 

(148

)

Interest income (2)

 

 

 

 

19

 

 

 

 

 

3

 

Interest expense (3)

 

 

 

 

(124

)

 

 

 

 

 

(121

)

Charges and credits (4)

 

 

 

 

-

 

 

 

 

 

259

 

$

8,099

 

$

1,293

 

$

6,773

 

$

1,152

 

 

(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 2023; $16 million in 2022).
(3)
Interest expense excludes amounts that are included in the segments’ income ($3 million in 2023; $3 million in 2022).
(4)
See Note 2 – Charges and Credits.

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months 2023

 

Six Months 2022

 

 

 

Income

 

 

 

Income

 

 

Revenue

 

 

Before Taxes

 

 

Revenue

 

 

Before Taxes

 

Digital & Integration

$

1,840

 

 

$

587

 

$

1,813

 

$

671

 

Reservoir Performance

 

3,146

 

 

 

548

 

 

2,543

 

 

355

 

Well Construction

 

6,623

 

 

 

1,403

 

 

5,083

 

 

858

 

Production Systems

 

4,520

 

 

 

483

 

 

 

3,497

 

 

 

285

 

Eliminations & other

 

(294

)

 

 

(49

)

 

(201

)

 

(115

)

Pretax segment operating income

 

 

 

 

2,972

 

 

 

 

2,054

 

Corporate & other (1)

 

 

 

 

(353

)

 

 

 

(313

)

Interest income (2)

 

 

 

 

36

 

 

 

 

5

 

Interest expense (3)

 

 

 

 

(237

)

 

 

 

(241

)

Charges and credits (4)

 

 

 

 

36

 

 

 

 

 

 

285

 

$

15,835

 

$

2,454

 

$

12,735

 

$

1,790

 

 

(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 2023; $28 million in 2022).
(3)
Interest expense excludes amounts that are included in the segments’ income ($7 million in 2023; $6 million in 2022).
(4)
See Note 2 – Charges and Credits.
Revenue by Geographic Area

Revenue by geographic area was as follows:

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter

 

 

Six Months

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

North America

$

1,746

 

$

1,537

 

$

3,443

 

$

2,819

 

Latin America

 

1,624

 

 

1,329

 

 

3,242

 

 

2,534

 

Europe & Africa (1)

 

2,031

 

 

1,691

 

 

4,005

 

 

3,094

 

Middle East & Asia

 

2,642

 

 

 

2,168

 

 

 

5,035

 

 

 

4,192

 

Other

 

56

 

 

 

48

 

 

 

110

 

 

 

96

 

$

8,099

 

$

6,773

 

$

15,835

 

$

12,735

 

 

(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)

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2023

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

234

 

 

$

712

 

$

1

 

$

947

 

Reservoir Performance

 

130

 

 

 

1,512

 

 

 

1

 

 

1,643

 

Well Construction

 

721

 

 

 

2,582

 

 

 

59

 

 

3,362

 

Production Systems

 

679

 

 

 

1,628

 

 

6

 

 

 

2,313

 

Eliminations & other

 

(18

)

 

 

(137

)

 

(11

)

 

(166

)

 

$

1,746

 

 

$

6,297

 

$

56

 

$

8,099

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2022

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

327

 

 

$

627

 

$

1

 

$

955

 

Reservoir Performance

 

111

 

 

 

1,222

 

 

 

-

 

 

 

1,333

 

Well Construction

 

553

 

 

 

2,083

 

 

 

50

 

 

 

2,686

 

Production Systems

 

550

 

 

 

1,341

 

 

2

 

 

1,893

 

Eliminations & other

 

(4

)

 

 

(85

)

 

(5

)

 

(94

)

$

1,537

 

$

5,188

 

$

48

 

$

6,773

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months 2023

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

485

 

 

$

1,354

 

$

1

 

$

1,840

 

Reservoir Performance

 

250

 

 

 

2,892

 

 

 

4

 

 

3,146

 

Well Construction

 

1,432

 

 

 

5,075

 

 

 

116

 

 

6,623

 

Production Systems

 

1,305

 

 

 

3,202

 

 

13

 

 

 

4,520

 

Eliminations & other

 

(29

)

 

 

(241

)

 

(24

)

 

(294

)

 

$

3,443

 

 

$

12,282

 

$

110

 

$

15,835

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months 2022

 

 

North

 

 

 

 

 

 

 

 

 

 

 

America

 

 

International

 

 

Other

 

 

Total

 

Digital & Integration

$

552

 

 

$

1,258

 

$

3

 

$

1,813

 

Reservoir Performance

 

214

 

 

 

2,326

 

 

 

3

 

 

 

2,543

 

Well Construction

 

1,038

 

 

 

3,948

 

 

 

97

 

 

 

5,083

 

Production Systems

 

1,023

 

 

 

2,468

 

 

6

 

 

3,497

 

Eliminations & other

 

(8

)

 

 

(180

)

 

(13

)

 

(201

)

$

2,819

 

$

9,820

 

$

96

 

$

12,735