Business Segments (Tables)

6 Months Ended

Jun. 30, 2015

Business Segments [Abstract]

Summarized financial data by segment

Summary financial data by segment follows:

	Three Months Ended June 30,						Six Month Ended June 30,
(dollars in millions)	2015			2014			2015			2014
Revenues:
Subsea	$	658		$	735		$	1,289		$	1,416
Surface		510			613			1,053			1,151
Drilling		719			766			1,445			1,433
V&M		381			539			809			1,039
Elimination of intersegment revenues		(46	)		(83	)		(101	)		(140	)
Total revenues	$	2,222		$	2,570		$	4,495		$	4,899
Segment income before interest and income taxes:
Subsea	$	67		$	46		$	124		$	75
Surface		69			108			161			199
Drilling		119			97			254			164
V&M		44			110			89			208
Elimination of intersegment earning		(7	)		(24	)		(23	)		(36	)
Segment income before interest and income taxes		292			337			605			610
Corporate items:
Corporate expenses		(23	)		(38	)		(46	)		(75	)
Interest, net		(33	)		(30	)		(71	)		(62	)
Other (costs) gains, net (see Note 3)		(37	)		6			614			(43	)
Income (loss) from continuing operations before income taxes	$	199		$	275		$	(126	)	$	430