Segment Information (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule of Segment Reporting Information, by Segment |
Financial information by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2025 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
658 |
|
|
$ |
187 |
|
|
$ |
28 |
|
|
$ |
86 |
|
Reservoir Performance |
|
1,682 |
|
|
|
312 |
|
|
|
110 |
|
|
|
105 |
|
Well Construction |
|
2,967 |
|
|
|
558 |
|
|
|
170 |
|
|
|
110 |
|
Production Systems |
|
3,474 |
|
|
|
559 |
|
|
|
131 |
|
|
|
121 |
|
All Other |
|
397 |
|
|
|
96 |
|
|
|
62 |
|
|
|
94 |
|
Eliminations & other |
|
(250 |
) |
|
|
(86 |
) |
|
|
73 |
|
|
|
65 |
|
Corporate & other (1) |
|
|
|
|
(203 |
) |
|
|
64 |
|
|
|
|
Interest income (2) |
|
|
|
|
37 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(142 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(318 |
) |
|
|
|
|
|
|
|
$ |
8,928 |
|
|
$ |
1,000 |
|
|
$ |
638 |
|
|
$ |
581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2024 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
638 |
|
|
$ |
190 |
|
|
$ |
39 |
|
|
$ |
50 |
|
Reservoir Performance |
|
1,823 |
|
|
|
367 |
|
|
|
102 |
|
|
|
151 |
|
Well Construction |
|
3,312 |
|
|
|
714 |
|
|
|
166 |
|
|
|
165 |
|
Production Systems |
|
3,037 |
|
|
|
518 |
|
|
|
92 |
|
|
|
106 |
|
All Other |
|
554 |
|
|
|
188 |
|
|
|
124 |
|
|
|
140 |
|
Eliminations & other |
|
(205 |
) |
|
|
(75 |
) |
|
|
72 |
|
|
|
32 |
|
Corporate & other (1) |
|
|
|
|
(187 |
) |
|
|
45 |
|
|
|
|
Interest income (2) |
|
|
|
|
36 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(132 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(112 |
) |
|
|
|
|
|
|
|
$ |
9,159 |
|
|
$ |
1,507 |
|
|
$ |
640 |
|
|
$ |
644 |
|
(1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2)Interest income excludes amounts that are included in the segments’ income ($- million in 2025; $16 million in 2024). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in 2025; $4 million in 2024). (4)See Note 2 – Charges and Credits. (5)Capital investments included capital expenditures, APS investments, and exploration data costs capitalized.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2025 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
1,836 |
|
|
$ |
465 |
|
|
$ |
117 |
|
|
$ |
172 |
|
Reservoir Performance |
|
5,072 |
|
|
|
908 |
|
|
|
321 |
|
|
|
366 |
|
Well Construction |
|
8,908 |
|
|
|
1,698 |
|
|
|
502 |
|
|
|
358 |
|
Production Systems |
|
9,247 |
|
|
|
1,520 |
|
|
|
312 |
|
|
|
322 |
|
All Other |
|
1,542 |
|
|
|
414 |
|
|
|
290 |
|
|
|
323 |
|
Eliminations & other |
|
(642 |
) |
|
|
(239 |
) |
|
|
215 |
|
|
|
117 |
|
Corporate & other (1) |
|
|
|
|
(550 |
) |
|
|
154 |
|
|
|
|
Interest income (2) |
|
|
|
|
103 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(425 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(546 |
) |
|
|
|
|
|
|
|
$ |
25,963 |
|
|
$ |
3,348 |
|
|
$ |
1,911 |
|
|
$ |
1,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2024 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
1,734 |
|
|
$ |
370 |
|
|
$ |
126 |
|
|
$ |
142 |
|
Reservoir Performance |
|
5,368 |
|
|
|
1,082 |
|
|
|
302 |
|
|
|
403 |
|
Well Construction |
|
10,090 |
|
|
|
2,145 |
|
|
|
484 |
|
|
|
555 |
|
Production Systems |
|
8,808 |
|
|
|
1,390 |
|
|
|
257 |
|
|
|
275 |
|
All Other |
|
1,535 |
|
|
|
588 |
|
|
|
355 |
|
|
|
403 |
|
Eliminations & other |
|
(530 |
) |
|
|
(171 |
) |
|
|
214 |
|
|
|
75 |
|
Corporate & other (1) |
|
|
|
|
(568 |
) |
|
|
133 |
|
|
|
|
Interest income (2) |
|
|
|
|
98 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(370 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(279 |
) |
|
|
|
|
|
|
|
$ |
27,005 |
|
|
$ |
4,285 |
|
|
$ |
1,871 |
|
|
$ |
1,853 |
|
(1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2)Interest income excludes amounts that are included in the segments’ income ($1 million in 2025; $31 million in 2024). (3)Interest expense excludes amounts that are included in the segments’ income ($6 million in 2025; $13 million in 2024). (4)See Note 2 – Charges and Credits. (5)Capital investments included capital expenditures, APS investments, and exploration data costs capitalized. Total assets by segment are as follows:
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
Sept. 30, |
|
|
Dec. 31, |
|
|
|
2025 |
|
|
2024 |
|
Digital |
|
$ |
754 |
|
|
$ |
768 |
|
Reservoir Performance |
|
|
4,110 |
|
|
|
3,802 |
|
Well Construction |
|
|
6,690 |
|
|
|
6,741 |
|
Production Systems |
|
|
9,420 |
|
|
|
7,049 |
|
All Other |
|
|
2,257 |
|
|
|
2,511 |
|
Eliminations and other |
|
|
1,216 |
|
|
|
1,152 |
|
Goodwill and intangibles |
|
|
22,096 |
|
|
|
17,605 |
|
Cash and short-term investments |
|
|
3,585 |
|
|
|
4,669 |
|
All other assets |
|
|
4,965 |
|
|
|
4,638 |
|
|
|
$ |
55,093 |
|
|
$ |
48,935 |
|
|
| Revenue by Geographic Area |
Revenue by geographic area was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter |
|
|
Nine Months |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
North America |
$ |
1,930 |
|
|
$ |
1,687 |
|
|
$ |
5,303 |
|
|
$ |
4,929 |
|
Latin America |
|
1,482 |
|
|
|
1,689 |
|
|
|
4,469 |
|
|
|
5,084 |
|
Europe & Africa (1) |
|
2,434 |
|
|
|
2,434 |
|
|
|
7,038 |
|
|
|
7,199 |
|
Middle East & Asia |
|
3,000 |
|
|
|
3,302 |
|
|
|
8,983 |
|
|
|
9,650 |
|
Other |
|
82 |
|
|
|
47 |
|
|
|
170 |
|
|
|
143 |
|
|
$ |
8,928 |
|
|
$ |
9,159 |
|
|
$ |
25,963 |
|
|
$ |
27,005 |
|
(1)Includes Russia and the Caspian region.
|
| Summary of North America and International Revenue Disaggregated by Segment |
North America and International revenue disaggregated by segment was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2025 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
156 |
|
|
$ |
500 |
|
|
$ |
2 |
|
|
$ |
658 |
|
Reservoir Performance |
|
143 |
|
|
|
1,536 |
|
|
|
3 |
|
|
|
1,682 |
|
Well Construction |
|
527 |
|
|
|
2,371 |
|
|
|
69 |
|
|
|
2,967 |
|
Production Systems |
|
1,008 |
|
|
|
2,440 |
|
|
|
26 |
|
|
|
3,474 |
|
All Other |
|
132 |
|
|
|
264 |
|
|
|
1 |
|
|
|
397 |
|
Eliminations & other |
|
(36 |
) |
|
|
(195 |
) |
|
|
(19 |
) |
|
|
(250 |
) |
|
$ |
1,930 |
|
|
$ |
6,916 |
|
|
$ |
82 |
|
|
$ |
8,928 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2024 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
128 |
|
|
$ |
509 |
|
|
$ |
1 |
|
|
$ |
638 |
|
Reservoir Performance |
|
145 |
|
|
|
1,676 |
|
|
|
2 |
|
|
|
1,823 |
|
Well Construction |
|
581 |
|
|
|
2,675 |
|
|
|
56 |
|
|
|
3,312 |
|
Production Systems |
|
657 |
|
|
|
2,373 |
|
|
|
7 |
|
|
|
3,037 |
|
All Other |
|
357 |
|
|
|
197 |
|
|
|
- |
|
|
|
554 |
|
Eliminations & other |
|
(181 |
) |
|
|
(5 |
) |
|
|
(19 |
) |
|
|
(205 |
) |
|
$ |
1,687 |
|
|
$ |
7,425 |
|
|
$ |
47 |
|
|
$ |
9,159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2025 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
453 |
|
|
$ |
1,377 |
|
|
$ |
6 |
|
|
$ |
1,836 |
|
Reservoir Performance |
|
433 |
|
|
|
4,633 |
|
|
|
6 |
|
|
|
5,072 |
|
Well Construction |
|
1,581 |
|
|
|
7,146 |
|
|
|
181 |
|
|
|
8,908 |
|
Production Systems |
|
2,365 |
|
|
|
6,850 |
|
|
|
32 |
|
|
|
9,247 |
|
All Other |
|
990 |
|
|
|
550 |
|
|
|
2 |
|
|
|
1,542 |
|
Eliminations & other |
|
(519 |
) |
|
|
(66 |
) |
|
|
(57 |
) |
|
|
(642 |
) |
|
$ |
5,303 |
|
|
$ |
20,490 |
|
|
$ |
170 |
|
|
$ |
25,963 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2024 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
413 |
|
|
$ |
1,318 |
|
|
$ |
3 |
|
|
$ |
1,734 |
|
Reservoir Performance |
|
409 |
|
|
|
4,952 |
|
|
|
7 |
|
|
|
5,368 |
|
Well Construction |
|
1,776 |
|
|
|
8,151 |
|
|
|
163 |
|
|
|
10,090 |
|
Production Systems |
|
1,871 |
|
|
|
6,915 |
|
|
|
22 |
|
|
|
8,808 |
|
All Other |
|
1,022 |
|
|
|
513 |
|
|
|
- |
|
|
|
1,535 |
|
Eliminations & other |
|
(562 |
) |
|
|
84 |
|
|
|
(52 |
) |
|
|
(530 |
) |
|
$ |
4,929 |
|
|
$ |
21,933 |
|
|
$ |
143 |
|
|
$ |
27,005 |
|
|
| Summary of Significant Segment Expenses |
Significant segment expenses, which represent the difference between segment revenue and pretax segment income, consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2025 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
185 |
|
|
$ |
393 |
|
|
$ |
586 |
|
|
$ |
404 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
292 |
|
|
|
807 |
|
|
|
2,005 |
|
Depreciation and amortization |
|
28 |
|
|
|
110 |
|
|
|
170 |
|
|
|
131 |
|
Allocations |
|
82 |
|
|
|
160 |
|
|
|
230 |
|
|
|
130 |
|
Other |
|
176 |
|
|
|
415 |
|
|
|
616 |
|
|
|
245 |
|
|
$ |
471 |
|
|
$ |
1,370 |
|
|
$ |
2,409 |
|
|
$ |
2,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2024 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
180 |
|
|
$ |
417 |
|
|
$ |
647 |
|
|
$ |
238 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
314 |
|
|
|
869 |
|
|
|
1,867 |
|
Depreciation and amortization |
|
39 |
|
|
|
102 |
|
|
|
166 |
|
|
|
92 |
|
Allocations |
|
78 |
|
|
|
169 |
|
|
|
254 |
|
|
|
134 |
|
Other |
|
151 |
|
|
|
454 |
|
|
|
662 |
|
|
|
188 |
|
|
$ |
448 |
|
|
$ |
1,456 |
|
|
$ |
2,598 |
|
|
$ |
2,519 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2025 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
557 |
|
|
$ |
1,207 |
|
|
$ |
1,781 |
|
|
$ |
877 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
879 |
|
|
|
2,427 |
|
|
|
5,526 |
|
Depreciation and amortization |
|
117 |
|
|
|
321 |
|
|
|
502 |
|
|
|
312 |
|
Allocations |
|
244 |
|
|
|
487 |
|
|
|
720 |
|
|
|
406 |
|
Other |
|
453 |
|
|
|
1,270 |
|
|
|
1,780 |
|
|
|
606 |
|
|
$ |
1,371 |
|
|
$ |
4,164 |
|
|
$ |
7,210 |
|
|
$ |
7,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2024 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
577 |
|
|
$ |
1,231 |
|
|
$ |
1,965 |
|
|
$ |
797 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
922 |
|
|
|
2,695 |
|
|
|
5,467 |
|
Depreciation and amortization |
|
126 |
|
|
|
302 |
|
|
|
484 |
|
|
|
257 |
|
Allocations |
|
236 |
|
|
|
497 |
|
|
|
758 |
|
|
|
396 |
|
Other |
|
425 |
|
|
|
1,334 |
|
|
|
2,043 |
|
|
|
501 |
|
|
$ |
1,364 |
|
|
$ |
4,286 |
|
|
$ |
7,945 |
|
|
$ |
7,418 |
|
|