Segment Information (Tables)
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9 Months Ended |
Sep. 30, 2020 |
Segment Reporting [Abstract] |
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Schedule of Segment Reporting Information, by Segment |
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(Stated in millions) |
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Third Quarter 2020 |
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|
Third Quarter 2019 |
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Income (Loss) |
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|
Income (Loss) |
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|
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Before |
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|
|
|
|
Before |
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|
Revenue |
|
|
Taxes |
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|
Revenue |
|
|
Taxes |
|
Reservoir Characterization |
$ |
1,010 |
|
|
$ |
169 |
|
|
$ |
1,651 |
|
|
$ |
360 |
|
Drilling |
|
1,519 |
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|
|
144 |
|
|
|
2,469 |
|
|
|
306 |
|
Production |
|
1,801 |
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|
|
227 |
|
|
|
3,153 |
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|
|
288 |
|
Cameron |
|
965 |
|
|
|
60 |
|
|
|
1,363 |
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|
|
173 |
|
Eliminations & other |
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(37 |
) |
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|
(25 |
) |
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|
(95 |
) |
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|
(31 |
) |
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|
|
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|
575 |
|
|
|
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|
1,096 |
|
Corporate & other (1) |
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(151 |
) |
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(231 |
) |
Interest income (2) |
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3 |
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7 |
|
Interest expense (3) |
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(131 |
) |
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(151 |
) |
Charges and credits (4) |
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|
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(350 |
) |
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|
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(12,692 |
) |
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$ |
5,258 |
|
|
$ |
(54 |
) |
|
$ |
8,541 |
|
|
$ |
(11,971 |
) |
(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 which are included in the segments’ income ($- million in 2020; $1 million in 2019). |
(3) |
Interest expense excludes amounts which are included in the segments’ income ($7 million in 2020; $9 million in 2019). |
(4) |
See Note 2 – Charges and Credits. |
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(Stated in millions) |
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Nine Months 2020 |
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|
Nine Months 2019 |
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|
Income (Loss) |
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|
Income (Loss) |
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|
|
|
|
|
Before |
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|
|
|
|
|
Before |
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|
Revenue |
|
|
Taxes |
|
|
Revenue |
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|
Taxes |
|
Reservoir Characterization |
$ |
3,372 |
|
|
$ |
538 |
|
|
$ |
4,669 |
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|
$ |
959 |
|
Drilling |
|
5,540 |
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|
594 |
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|
7,275 |
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|
914 |
|
Production |
|
6,119 |
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|
464 |
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|
9,120 |
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|
|
740 |
|
Cameron |
|
3,235 |
|
|
|
262 |
|
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|
3,949 |
|
|
|
486 |
|
Eliminations & other |
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(197 |
) |
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|
(111 |
) |
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(324 |
) |
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|
(127 |
) |
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1,747 |
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|
2,972 |
|
Corporate & other (1) |
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(548 |
) |
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(742 |
) |
Interest income (2) |
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25 |
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|
25 |
|
Interest expense (3) |
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(397 |
) |
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(433 |
) |
Charges and credits (4) |
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(12,596 |
) |
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(12,692 |
) |
|
$ |
18,069 |
|
|
$ |
(11,769 |
) |
|
$ |
24,689 |
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|
$ |
(10,870 |
) |
Certain prior period amounts have been reclassified to conform to the current period presentation.
(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 which are included in the segments’ income ($1 million in 2020; $6 million in 2019). |
(3) |
Interest expense excludes amounts which are included in the segments’ income ($22 million in 2020; $29 million in 2019). |
(4) |
See Note 2 – Charges and Credits. |
|
Revenue by Geographic Area |
Revenue by geographic area was as follows:
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(Stated in millions) |
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Third Quarter |
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Nine Months |
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|
2020 |
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2019 |
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2020 |
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|
2019 |
|
North America |
$ |
1,157 |
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|
$ |
2,850 |
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$ |
4,620 |
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|
$ |
8,389 |
|
Latin America |
|
707 |
|
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|
1,014 |
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|
2,195 |
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|
3,121 |
|
Europe/CIS/Africa |
|
1,397 |
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|
2,062 |
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|
4,597 |
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|
5,665 |
|
Middle East & Asia |
|
1,987 |
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|
2,553 |
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6,559 |
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|
7,343 |
|
Eliminations & other |
|
10 |
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|
62 |
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|
98 |
|
|
|
171 |
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|
$ |
5,258 |
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|
$ |
8,541 |
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$ |
18,069 |
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$ |
24,689 |
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|
Summary of North America and International Revenue Disaggregated by Segment |
North America and International revenue disaggregated by segment was as follows:
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(Stated in millions) |
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|
Third Quarter 2020 |
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North |
|
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Eliminations |
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America |
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International |
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& other |
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Total |
|
Reservoir Characterization |
$ |
143 |
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|
$ |
863 |
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|
$ |
4 |
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|
$ |
1,010 |
|
Drilling |
|
226 |
|
|
|
1,265 |
|
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|
28 |
|
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|
1,519 |
|
Production |
|
462 |
|
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|
1,338 |
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|
1 |
|
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|
1,801 |
|
Cameron |
|
326 |
|
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|
646 |
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|
(7 |
) |
|
|
965 |
|
Other |
|
- |
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|
(21 |
) |
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(16 |
) |
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(37 |
) |
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$ |
1,157 |
|
|
$ |
4,091 |
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|
$ |
10 |
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$ |
5,258 |
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|
Third Quarter 2019 |
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|
North |
|
|
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|
Eliminations |
|
|
|
|
|
|
America |
|
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International |
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& other |
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|
Total |
|
Reservoir Characterization |
$ |
299 |
|
|
$ |
1,347 |
|
|
$ |
5 |
|
|
$ |
1,651 |
|
Drilling |
|
552 |
|
|
|
1,861 |
|
|
|
56 |
|
|
|
2,469 |
|
Production |
|
1,426 |
|
|
|
1,726 |
|
|
|
1 |
|
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|
3,153 |
|
Cameron |
|
589 |
|
|
|
772 |
|
|
|
2 |
|
|
|
1,363 |
|
Other |
|
(16 |
) |
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|
(77 |
) |
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|
(2 |
) |
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(95 |
) |
|
$ |
2,850 |
|
|
$ |
5,629 |
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|
$ |
62 |
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$ |
8,541 |
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(Stated in millions) |
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|
Nine Months 2020 |
|
|
North |
|
|
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|
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|
Eliminations |
|
|
|
|
|
|
America |
|
|
International |
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|
& other |
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|
Total |
|
Reservoir Characterization |
$ |
508 |
|
|
$ |
2,851 |
|
|
$ |
13 |
|
|
$ |
3,372 |
|
Drilling |
|
1,018 |
|
|
|
4,404 |
|
|
|
118 |
|
|
|
5,540 |
|
Production |
|
1,937 |
|
|
|
4,180 |
|
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|
2 |
|
|
|
6,119 |
|
Cameron |
|
1,173 |
|
|
|
2,048 |
|
|
|
14 |
|
|
|
3,235 |
|
Other |
|
(16 |
) |
|
|
(132 |
) |
|
|
(49 |
) |
|
|
(197 |
) |
|
$ |
4,620 |
|
|
$ |
13,351 |
|
|
$ |
98 |
|
|
$ |
18,069 |
|
|
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|
|
|
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|
Nine Months 2019 |
|
|
North |
|
|
|
|
|
|
Eliminations |
|
|
|
|
|
|
America |
|
|
International |
|
|
& other |
|
|
Total |
|
Reservoir Characterization |
$ |
756 |
|
|
$ |
3,898 |
|
|
$ |
15 |
|
|
$ |
4,669 |
|
Drilling |
|
1,680 |
|
|
|
5,435 |
|
|
|
160 |
|
|
|
7,275 |
|
Production |
|
4,218 |
|
|
|
4,900 |
|
|
|
2 |
|
|
|
9,120 |
|
Cameron |
|
1,771 |
|
|
|
2,146 |
|
|
|
32 |
|
|
|
3,949 |
|
Other |
|
(36 |
) |
|
|
(250 |
) |
|
|
(38 |
) |
|
|
(324 |
) |
|
$ |
8,389 |
|
|
$ |
16,129 |
|
|
$ |
171 |
|
|
$ |
24,689 |
|
|