Segment Information (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule of Segment Reporting Information, by Segment |
Financial information by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2026 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
697 |
|
|
$ |
194 |
|
|
$ |
48 |
|
|
$ |
62 |
|
Reservoir Performance |
|
1,556 |
|
|
|
232 |
|
|
|
118 |
|
|
|
125 |
|
Well Construction |
|
2,742 |
|
|
|
417 |
|
|
|
161 |
|
|
|
136 |
|
Production Systems |
|
3,771 |
|
|
|
586 |
|
|
|
152 |
|
|
|
165 |
|
All Other |
|
505 |
|
|
|
142 |
|
|
|
85 |
|
|
|
125 |
|
Eliminations & other |
|
(299 |
) |
|
|
(167 |
) |
|
|
71 |
|
|
|
30 |
|
Corporate & other (1) |
|
|
|
|
(211 |
) |
|
|
77 |
|
|
|
|
Interest income (2) |
|
|
|
|
23 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(128 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(69 |
) |
|
|
|
|
|
|
|
$ |
8,972 |
|
|
$ |
1,019 |
|
|
$ |
712 |
|
|
$ |
643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2025 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
591 |
|
|
$ |
153 |
|
|
$ |
33 |
|
|
$ |
33 |
|
Reservoir Performance |
|
1,691 |
|
|
|
314 |
|
|
|
107 |
|
|
|
124 |
|
Well Construction |
|
2,963 |
|
|
|
551 |
|
|
|
169 |
|
|
|
118 |
|
Production Systems |
|
2,932 |
|
|
|
491 |
|
|
|
91 |
|
|
|
111 |
|
All Other |
|
583 |
|
|
|
155 |
|
|
|
117 |
|
|
|
107 |
|
Eliminations & other |
|
(214 |
) |
|
|
(80 |
) |
|
|
71 |
|
|
|
27 |
|
Corporate & other (1) |
|
|
|
|
(169 |
) |
|
|
45 |
|
|
|
|
Interest income (2) |
|
|
|
|
30 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(139 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(21 |
) |
|
|
|
|
|
|
|
$ |
8,546 |
|
|
$ |
1,285 |
|
|
$ |
633 |
|
|
$ |
520 |
|
(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 ($5 million in 2026; $- million in 2025). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in 2026; $3 million in 2025). (4)See Note 2 – Charges and Credits. (5)Capital investments includes capital expenditures, APS investments, and exploration data costs capitalized.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2026 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
1,337 |
|
|
$ |
328 |
|
|
$ |
81 |
|
|
$ |
127 |
|
Reservoir Performance |
|
3,150 |
|
|
|
489 |
|
|
|
231 |
|
|
|
214 |
|
Well Construction |
|
5,539 |
|
|
|
841 |
|
|
|
322 |
|
|
|
244 |
|
Production Systems |
|
7,279 |
|
|
|
1,083 |
|
|
|
304 |
|
|
|
294 |
|
All Other |
|
948 |
|
|
|
255 |
|
|
|
169 |
|
|
|
232 |
|
Eliminations & other |
|
(560 |
) |
|
|
(271 |
) |
|
|
140 |
|
|
|
42 |
|
Corporate & other (1) |
|
|
|
|
(439 |
) |
|
|
150 |
|
|
|
|
Interest income (2) |
|
|
|
|
43 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(244 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(110 |
) |
|
|
|
|
|
|
|
$ |
17,693 |
|
|
$ |
1,975 |
|
|
$ |
1,397 |
|
|
$ |
1,153 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2025 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
1,177 |
|
|
$ |
278 |
|
|
$ |
89 |
|
|
$ |
86 |
|
Reservoir Performance |
|
3,391 |
|
|
|
596 |
|
|
|
211 |
|
|
|
261 |
|
Well Construction |
|
5,940 |
|
|
|
1,140 |
|
|
|
333 |
|
|
|
247 |
|
Production Systems |
|
5,773 |
|
|
|
962 |
|
|
|
181 |
|
|
|
201 |
|
All Other |
|
1,145 |
|
|
|
317 |
|
|
|
227 |
|
|
|
229 |
|
Eliminations & other |
|
(391 |
) |
|
|
(153 |
) |
|
|
142 |
|
|
|
53 |
|
Corporate & other (1) |
|
|
|
|
(347 |
) |
|
|
90 |
|
|
|
|
Interest income (2) |
|
|
|
|
66 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(283 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(228 |
) |
|
|
|
|
|
|
|
$ |
17,035 |
|
|
$ |
2,348 |
|
|
$ |
1,273 |
|
|
$ |
1,077 |
|
(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 ($11 million in 2026; $- million in 2025). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in 2026; $6 million in 2025). (4)See Note 2 – Charges and Credits. (5)Capital investments includes capital expenditures, APS investments, and exploration data costs capitalized. Total assets by segment are as follows:
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
Jun. 30, |
|
|
Dec. 31, |
|
|
|
2026 |
|
|
2025 |
|
Digital |
|
$ |
918 |
|
|
$ |
925 |
|
Reservoir Performance |
|
|
4,087 |
|
|
|
3,947 |
|
Well Construction |
|
|
6,365 |
|
|
|
6,167 |
|
Production Systems |
|
|
9,753 |
|
|
|
9,373 |
|
All Other |
|
|
2,315 |
|
|
|
2,249 |
|
Eliminations and other |
|
|
1,069 |
|
|
|
1,033 |
|
Goodwill and intangibles |
|
|
21,877 |
|
|
|
21,783 |
|
Cash and short-term investments |
|
|
4,071 |
|
|
|
4,212 |
|
All other assets |
|
|
5,077 |
|
|
|
5,179 |
|
|
|
$ |
55,532 |
|
|
$ |
54,868 |
|
|
| Revenue by Geographic Area |
Revenue by geographic area was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter |
|
|
Six Months |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
North America |
$ |
2,244 |
|
|
$ |
1,655 |
|
|
$ |
4,412 |
|
|
$ |
3,373 |
|
Latin America |
|
1,714 |
|
|
|
1,492 |
|
|
|
3,243 |
|
|
|
2,986 |
|
Europe & Africa (1) |
|
2,385 |
|
|
|
2,369 |
|
|
|
4,642 |
|
|
|
4,604 |
|
Middle East & Asia |
|
2,572 |
|
|
|
2,986 |
|
|
|
5,257 |
|
|
|
5,983 |
|
Other |
|
57 |
|
|
|
44 |
|
|
|
139 |
|
|
|
89 |
|
|
$ |
8,972 |
|
|
$ |
8,546 |
|
|
$ |
17,693 |
|
|
$ |
17,035 |
|
(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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2026 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
170 |
|
|
$ |
526 |
|
|
$ |
1 |
|
|
$ |
697 |
|
Reservoir Performance |
|
147 |
|
|
|
1,409 |
|
|
|
- |
|
|
|
1,556 |
|
Well Construction |
|
549 |
|
|
|
2,156 |
|
|
|
37 |
|
|
|
2,742 |
|
Production Systems |
|
1,259 |
|
|
|
2,478 |
|
|
|
34 |
|
|
|
3,771 |
|
All Other |
|
188 |
|
|
|
317 |
|
|
|
- |
|
|
|
505 |
|
Eliminations & other |
|
(69 |
) |
|
|
(215 |
) |
|
|
(15 |
) |
|
|
(299 |
) |
|
$ |
2,244 |
|
|
$ |
6,671 |
|
|
$ |
57 |
|
|
$ |
8,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2025 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
126 |
|
|
$ |
462 |
|
|
$ |
3 |
|
|
$ |
591 |
|
Reservoir Performance |
|
148 |
|
|
|
1,541 |
|
|
|
2 |
|
|
|
1,691 |
|
Well Construction |
|
512 |
|
|
|
2,394 |
|
|
|
57 |
|
|
|
2,963 |
|
Production Systems |
|
685 |
|
|
|
2,243 |
|
|
|
4 |
|
|
|
2,932 |
|
All Other |
|
203 |
|
|
|
380 |
|
|
|
- |
|
|
|
583 |
|
Eliminations & other |
|
(19 |
) |
|
|
(173 |
) |
|
|
(22 |
) |
|
|
(214 |
) |
|
$ |
1,655 |
|
|
$ |
6,847 |
|
|
$ |
44 |
|
|
$ |
8,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2026 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
367 |
|
|
$ |
969 |
|
|
$ |
1 |
|
|
$ |
1,337 |
|
Reservoir Performance |
|
290 |
|
|
|
2,854 |
|
|
|
6 |
|
|
|
3,150 |
|
Well Construction |
|
1,097 |
|
|
|
4,351 |
|
|
|
91 |
|
|
|
5,539 |
|
Production Systems |
|
2,465 |
|
|
|
4,750 |
|
|
|
64 |
|
|
|
7,279 |
|
All Other |
|
331 |
|
|
|
617 |
|
|
|
- |
|
|
|
948 |
|
Eliminations & other |
|
(138 |
) |
|
|
(399 |
) |
|
|
(23 |
) |
|
|
(560 |
) |
|
$ |
4,412 |
|
|
$ |
13,142 |
|
|
$ |
139 |
|
|
$ |
17,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2025 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
297 |
|
|
$ |
877 |
|
|
$ |
3 |
|
|
$ |
1,177 |
|
Reservoir Performance |
|
290 |
|
|
|
3,097 |
|
|
|
4 |
|
|
|
3,391 |
|
Well Construction |
|
1,054 |
|
|
|
4,775 |
|
|
|
111 |
|
|
|
5,940 |
|
Production Systems |
|
1,356 |
|
|
|
4,410 |
|
|
|
7 |
|
|
|
5,773 |
|
All Other |
|
419 |
|
|
|
727 |
|
|
|
(1 |
) |
|
|
1,145 |
|
Eliminations & other |
|
(43 |
) |
|
|
(313 |
) |
|
|
(35 |
) |
|
|
(391 |
) |
|
$ |
3,373 |
|
|
$ |
13,573 |
|
|
$ |
89 |
|
|
$ |
17,035 |
|
|
| 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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2026 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
193 |
|
|
$ |
390 |
|
|
$ |
579 |
|
|
$ |
481 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
244 |
|
|
|
751 |
|
|
|
2,154 |
|
Depreciation and amortization |
|
48 |
|
|
|
118 |
|
|
|
161 |
|
|
|
152 |
|
Allocations |
|
92 |
|
|
|
161 |
|
|
|
232 |
|
|
|
137 |
|
Other |
|
170 |
|
|
|
411 |
|
|
|
602 |
|
|
|
261 |
|
|
$ |
503 |
|
|
$ |
1,324 |
|
|
$ |
2,325 |
|
|
$ |
3,185 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter 2025 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
182 |
|
|
$ |
407 |
|
|
$ |
592 |
|
|
$ |
233 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
279 |
|
|
|
818 |
|
|
|
1,790 |
|
Depreciation and amortization |
|
33 |
|
|
|
107 |
|
|
|
169 |
|
|
|
91 |
|
Allocations |
|
84 |
|
|
|
163 |
|
|
|
240 |
|
|
|
139 |
|
Other |
|
139 |
|
|
|
421 |
|
|
|
593 |
|
|
|
188 |
|
|
$ |
438 |
|
|
$ |
1,377 |
|
|
$ |
2,412 |
|
|
$ |
2,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2026 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
376 |
|
|
$ |
776 |
|
|
$ |
1,161 |
|
|
$ |
948 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
514 |
|
|
|
1,519 |
|
|
|
4,144 |
|
Depreciation and amortization |
|
81 |
|
|
|
231 |
|
|
|
322 |
|
|
|
304 |
|
Allocations |
|
179 |
|
|
|
323 |
|
|
|
461 |
|
|
|
273 |
|
Other |
|
373 |
|
|
|
817 |
|
|
|
1,235 |
|
|
|
527 |
|
|
$ |
1,009 |
|
|
$ |
2,661 |
|
|
$ |
4,698 |
|
|
$ |
6,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months 2025 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
372 |
|
|
$ |
814 |
|
|
$ |
1,195 |
|
|
$ |
473 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
587 |
|
|
|
1,620 |
|
|
|
3,521 |
|
Depreciation and amortization |
|
89 |
|
|
|
211 |
|
|
|
333 |
|
|
|
181 |
|
Allocations |
|
162 |
|
|
|
327 |
|
|
|
490 |
|
|
|
276 |
|
Other |
|
276 |
|
|
|
856 |
|
|
|
1,162 |
|
|
|
360 |
|
|
$ |
899 |
|
|
$ |
2,795 |
|
|
$ |
4,800 |
|
|
$ |
4,811 |
|
|