| Summary of Disaggregate Revenue by Destinations and Revenue Streams |
The following tables disaggregate our revenue by destinations and revenue streams, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors (in millions). In the table below, North America includes only the U.S. and Canada:
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Three Months Ended June 30, |
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2026 |
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2025 |
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Energy |
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Energy |
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Energy |
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Products |
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Energy |
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Products |
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Equipment |
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and Services |
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Eliminations |
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Total |
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Equipment |
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and Services |
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Eliminations |
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Total |
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North America |
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$ |
213 |
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$ |
565 |
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$ |
— |
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$ |
778 |
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$ |
271 |
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$ |
570 |
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$ |
— |
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$ |
841 |
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International |
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|
985 |
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|
371 |
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— |
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1,356 |
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919 |
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|
428 |
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— |
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1,347 |
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Intersegment revenue |
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20 |
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38 |
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(58 |
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— |
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17 |
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27 |
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(44 |
) |
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— |
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$ |
1,218 |
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$ |
974 |
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$ |
(58 |
) |
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$ |
2,134 |
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$ |
1,207 |
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$ |
1,025 |
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$ |
(44 |
) |
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$ |
2,188 |
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Land |
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$ |
397 |
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$ |
713 |
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$ |
— |
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$ |
1,110 |
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$ |
418 |
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$ |
737 |
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$ |
— |
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$ |
1,155 |
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Offshore |
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|
801 |
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|
223 |
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— |
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1,024 |
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|
772 |
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|
261 |
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— |
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|
1,033 |
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Intersegment revenue |
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20 |
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38 |
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(58 |
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— |
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17 |
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27 |
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(44 |
) |
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— |
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$ |
1,218 |
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$ |
974 |
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$ |
(58 |
) |
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$ |
2,134 |
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$ |
1,207 |
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$ |
1,025 |
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$ |
(44 |
) |
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$ |
2,188 |
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Six Months Ended June 30, |
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2026 |
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2025 |
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Energy |
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Energy |
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Energy |
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Products |
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Energy |
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Products |
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Equipment |
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and Services |
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Elims. |
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Total |
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Equipment |
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and Services |
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Elims. |
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Total |
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North America |
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$ |
450 |
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$ |
1,083 |
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$ |
— |
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$ |
1,533 |
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$ |
532 |
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$ |
1,121 |
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$ |
— |
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$ |
1,653 |
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International |
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1,927 |
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|
726 |
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— |
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2,653 |
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1,790 |
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|
848 |
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— |
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2,638 |
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Intersegment revenue |
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31 |
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62 |
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(93 |
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— |
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31 |
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48 |
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(79 |
) |
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— |
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$ |
2,408 |
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$ |
1,871 |
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$ |
(93 |
) |
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$ |
4,186 |
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$ |
2,353 |
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$ |
2,017 |
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$ |
(79 |
) |
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$ |
4,291 |
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Land |
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$ |
745 |
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$ |
1,386 |
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$ |
— |
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$ |
2,131 |
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$ |
819 |
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$ |
1,492 |
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$ |
— |
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$ |
2,311 |
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Offshore |
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1,632 |
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|
423 |
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— |
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2,055 |
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1,503 |
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|
477 |
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— |
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1,980 |
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Intersegment revenue |
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31 |
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62 |
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(93 |
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— |
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31 |
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48 |
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(79 |
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— |
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$ |
2,408 |
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$ |
1,871 |
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$ |
(93 |
) |
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$ |
4,186 |
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$ |
2,353 |
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$ |
2,017 |
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$ |
(79 |
) |
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$ |
4,291 |
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In the table below, the revenue streams of Energy Equipment are categorized as long-lived capital equipment sales and aftermarket sales and services. The revenue streams of the Energy Products and Services segment are categorized as services and rentals, sales of shorter-lived capital equipment, and sales of consumable products.
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Three Months Ended June 30, |
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2026 |
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2025 |
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Energy Equipment: |
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Capital equipment |
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$ |
751 |
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$ |
733 |
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Aftermarket |
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|
447 |
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|
457 |
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Intersegment revenue |
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20 |
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17 |
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Total |
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1,218 |
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1,207 |
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Energy Products and Services: |
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Services & rental |
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$ |
494 |
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$ |
501 |
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Capital equipment |
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|
282 |
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|
335 |
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Product sales |
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|
160 |
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|
162 |
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Intersegment revenue |
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|
38 |
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|
27 |
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Total |
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|
974 |
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1,025 |
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Eliminations |
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(58 |
) |
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(44 |
) |
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Total consolidated |
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$ |
2,134 |
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$ |
2,188 |
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Six Months Ended June 30, |
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2026 |
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2025 |
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Energy Equipment: |
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Capital equipment |
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$ |
1,497 |
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$ |
1,374 |
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Aftermarket |
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|
880 |
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|
948 |
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Intersegment revenue |
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|
31 |
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31 |
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Total |
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2,408 |
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2,353 |
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Energy Products and Services: |
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Services & rental |
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$ |
967 |
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$ |
1,008 |
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Capital equipment |
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|
534 |
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|
623 |
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Product sales |
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|
308 |
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|
338 |
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Intersegment revenue |
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|
62 |
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|
48 |
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Total |
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|
1,871 |
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|
2,017 |
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Eliminations |
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(93 |
) |
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(79 |
) |
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Total consolidated |
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$ |
4,186 |
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$ |
4,291 |
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