Business Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2025

The following table presents information on our business segments.


	Three Months Ended		Six Months Ended
	June 30,		June 30,
Millions of dollars	2025	2024	2025	2024
Revenue:
Completion and Production	$3,171	$3,401	$6,291	$6,774
Drilling and Evaluation	2,339	2,432	4,636	4,863
Total revenue	$5,510	$5,833	$10,927	$11,637
Operating income:
Completion and Production	$513	$723	$1,044	$1,411
Drilling and Evaluation	312	403	664	801
Total operations	825	1,126	1,708	2,212
Corporate and other (a)	(66)	(65)	(132)	(130)
SAP S4 upgrade expense	(32)	(29)	(62)	(63)
Impairments and other charges (b)	—	—	(356)	—
Total operating income	$727	$1,032	$1,158	$2,019
Interest expense, net of interest income	(92)	(92)	(178)	(184)
Other, net (c)	(24)	(20)	(63)	(128)
Income before income taxes	$611	$920	$917	$1,707
Capital expenditures:
Completion and Production	$205	$166	$383	$342
Drilling and Evaluation	149	181	273	334
Corporate and other	—	—	—	1
Total capital expenditures	$354	$347	$656	$677
Depreciation, depletion, and amortization:
Completion and Production	$154	$150	$306	$294
Drilling and Evaluation	124	118	245	233
Corporate and other	6	3	10	7
Total depreciation, depletion, and amortization	$284	$271	$561	$534

The following table presents significant segment expenses, which represent the difference between segment revenue

and segment operating income and are regularly reviewed by our CODM.


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025		2025
Millions of dollars	Completion and Production	Drilling and Evaluation	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,319	$922	$2,619	$1,804
Compensation	483	479	957	946
Depreciation, depletion, and amortization	154	124	306	245
Other	702	502	1,365	977
Total segment operating expenses	$2,658	$2,027	$5,247	$3,972


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2024		2024
Millions of dollars	Completion and Production	Drilling and Evaluation	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,374	$961	$2,766	$1,938
Compensation	477	461	961	926
Depreciation, depletion, and amortization	150	118	294	233
Other	677	489	1,342	965
Total segment operating expenses	$2,678	$2,029	$5,363	$4,062

The following table presents total assets by segment.


(a)	Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill.
(b)	Includes primarily cash and equivalents and deferred tax assets.