Business Segments

6 Months Ended

Jun. 30, 2014

Business Segments [Abstract]

Business Segments

Note 10: Business Segments

The Company's operations are organized into three separate business segments – Drilling & Production Systems (DPS), Valves & Measurement (V&M) and PCS.  Summary financial data by segment follows (in millions):

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Revenues:
DPS	$	1,903		$	1,438		$	3,608		$	2,707
V&M		536			534			1,028			1,056
PCS		202			237			436			507
	$	2,641		$	2,209		$	5,072		$	4,270
Income (loss) before income taxes:
DPS	$	235		$	196		$	418		$	350
V&M		107			109			201			222
PCS		13			17			28			37
Corporate & other		(69	)		(122	)		(191	)		(229	)
	$	286		$	200		$	456		$	380

Corporate & other includes expenses associated with the Company's back office support and public company costs, all of the Company's interest income and interest expense and other costs as described further in Note 3 of the Notes to Consolidated Condensed Financial Statements.