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PROGRESS COLLECTIONS AND DEFERRED INCOME
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
PROGRESS COLLECTIONS AND DEFERRED INCOME PROGRESS COLLECTIONS AND DEFERRED INCOME
Contract liabilities include progress collections, which reflects billings in excess of revenue, and deferred income on long-term contracts to construct technically complex equipment, long-term product maintenance or extended warranty arrangements. Contract liabilities consist of the following:
June 30, 2025December 31, 2024
Progress collections$5,549 $5,550 
Deferred income131 122 
Progress collections and deferred income (contract liabilities)$5,680 $5,672 
Revenue recognized during the three months ended June 30, 2025 and 2024 that was included in the contract liabilities at the beginning of the period was $1,373 million and $1,392 million, respectively, and $2,919 million and $2,868 million during the six months ended June 30, 2025 and 2024, respectivelyREVENUE RELATED TO CONTRACTS WITH CUSTOMERS
DISAGGREGATED REVENUE
The Company disaggregates its revenue from contracts with customers by product line for both the OFSE and IET segments, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. In addition, management views revenue from contracts with customers for OFSE by geography based on the location to where the product is shipped or the services are performed.
The series of tables below present the Company's revenue disaggregated by these categories.
Three Months Ended June 30,Six Months Ended June 30,
Total Revenue2025202420252024
Well Construction$921 $1,090 $1,812 $2,151 
Completions, Intervention, and Measurements
935 1,118 1,861 2,123 
Production Solutions968 958 1,867 1,903 
Subsea & Surface Pressure Systems793 845 1,576 1,617 
Oilfield Services & Equipment3,617 4,011 7,116 7,794 
Gas Technology Equipment
1,624 1,539 3,080 2,749 
Gas Technology Services
752 691 1,344 1,305 
Total Gas Technology2,377 2,230 4,424 4,054 
Industrial Products
488 509 933 971 
Industrial Solutions273 262 531 526 
Total Industrial Technology761 770 1,464 1,498 
Climate Technology Solutions156 128 334 211 
Industrial & Energy Technology3,293 3,128 6,221 5,763 
Total$6,910 $7,139 $13,337 $13,557 
Three Months Ended June 30,Six Months Ended June 30,
Oilfield Services & Equipment
Geographic Revenue
2025202420252024
North America$928 $1,023 $1,849 $2,013 
Latin America639 663 1,207 1,300 
Europe/CIS/Sub-Saharan Africa653 827 1,232 1,577 
Middle East/Asia1,398 1,498 2,827 2,903 
Oilfield Services & Equipment$3,617 $4,011 $7,116 $7,794 
REMAINING PERFORMANCE OBLIGATIONS
As of June 30, 2025, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $34 billion. As of June 30, 2025, the Company expects to recognize revenue of approximately 60%, 73% and 89% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as the Company fulfills the related remaining performance obligations.