Financial information by segment is summarized below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2024 Form 10-K. We have three reportable segments: (1) Drilling and Evaluation “DRE,” (2) Well Construction and Completions “WCC,” and (3) Production and Intervention “PRI.”

The Company’s chief operating decision maker (“CODM”), our chief executive officer, uses segment adjusted EBITDA to measure the profitability of each segment. The regularly reviewed historical, current and forecasted segment adjusted EBITDA data is utilized by the CODM to allocate Company resources. The CODM also uses segment adjusted EBITDA to drive efficiencies and develop competitive strategies. Segment adjusted EBITDA is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. All other includes results from non-core business activities (including integrated services and projects), and corporate includes overhead support and centrally managed or shared facilities costs. All other and corporate do not individually meet the criteria for segment reporting.


	Three Months Ended June 30, 2025
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	335	$	456	$	327	$	86	$	1,204

Direct Costs(a)	(220)		(279)		(220)
Other Expense(b)	(46)		(59)		(44)
DRE Segment Adjusted EBITDA	69								69
WCC Segment Adjusted EBITDA			118						118
PRI Segment Adjusted EBITDA					63				63

All Other									19
Corporate									(15)

Depreciation and Amortization									(64)
Share-based Compensation									(9)







































Gain on Sale of Business									70
Restructuring Charges									(11)
Other Charges, Net									(3)








Operating Income									$	237


	Six Months Ended June 30, 2025
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	685	$	897	$	661	$	154	$	2,397

Direct Costs(a)	(446)		(537)		(450)
Other Expense(b)	(96)		(114)		(86)
DRE Segment Adjusted EBITDA	143								143
WCC Segment Adjusted EBITDA			246						246
PRI Segment Adjusted EBITDA					125				125

All Other									23
Corporate									(30)

Depreciation and Amortization									(126)
Share-based Compensation									(16)







































Gain on Sale of Business									70
Restructuring Charges									(40)
Other Charges, Net									(16)








Operating Income									$	379


	Three Months Ended June 30, 2024
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	427	$	504	$	369	$	105	$	1,405

Direct Costs(a)	(241)		(297)		(236)
Other Expense(b)	(56)		(62)		(48)
DRE Segment Adjusted EBITDA	130								130
WCC Segment Adjusted EBITDA			145						145
PRI Segment Adjusted EBITDA					85				85

All Other									23
Corporate									(18)

Depreciation and Amortization									(86)
Share-based Compensation									(12)







































Restructuring Charges									(5)
Other Credits, Net									2








Operating Income									$	264


	Six Months Ended June 30, 2024
	Reportable Segments						All
(Dollars in millions)	DRE		WCC		PRI		Other		Total
Revenue	$	849	$	962	$	717	$	235	$	2,763

Direct Costs(a)	(480)		(573)		(467)
Other Expense(b)	(109)		(124)		(92)
DRE Segment Adjusted EBITDA	260								260
WCC Segment Adjusted EBITDA			265						265
PRI Segment Adjusted EBITDA					158				158

All Other									50
Corporate									(32)

Depreciation and Amortization									(171)
Share-based Compensation									(25)







































Restructuring Charges									(8)









Operating Income									$	497


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	2025		2024		2025		2024
Depreciation and Amortization:
DRE	$	21	$	27	$	40	$	55
WCC	12		25		24		48
PRI	18		24		36		46

Corporate and Other	13		10		26		22
Total Depreciation and Amortization	$	64	$	86	$	126	$	171

Capital Expenditures:
DRE	$	25	$	23	$	50	$	45
WCC	8		15		16		30
PRI	15		17		46		30
Corporate and Other	6		7		19		16
Total Capital Expenditures	$	54	$	62	$	131	$	121


(Dollars in millions)	June 30, 2025		December 31, 2024
Total Assets:
DRE	$	952	$	925
WCC	1,031		1,040
PRI	774		789

Corporate and Other (a)	2,384		2,405
Total	$	5,141	$	5,159
(a) Corporate and other total assets primarily include cash and cash equivalents, certain intangible assets, and centrally managed or shared facilities.