Segment Information (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule of Segment Reporting Information, by Segment |
Financial information by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter 2026 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
693 |
|
|
$ |
194 |
|
|
$ |
34 |
|
|
$ |
83 |
|
Reservoir Performance |
|
1,634 |
|
|
|
266 |
|
|
|
118 |
|
|
|
105 |
|
Well Construction |
|
2,888 |
|
|
|
475 |
|
|
|
157 |
|
|
|
166 |
|
Production Systems |
|
4,000 |
|
|
|
646 |
|
|
|
154 |
|
|
|
170 |
|
All Other |
|
544 |
|
|
|
136 |
|
|
|
90 |
|
|
|
120 |
|
Eliminations & other |
|
(310 |
) |
|
|
(141 |
) |
|
|
73 |
|
|
|
38 |
|
Corporate & other (1) |
|
|
|
|
(204 |
) |
|
|
72 |
|
|
|
|
Interest income (2) |
|
|
|
|
22 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(133 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(242 |
) |
|
|
|
|
|
|
|
$ |
9,449 |
|
|
$ |
1,019 |
|
|
$ |
698 |
|
|
$ |
682 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
) |
|
|
72 |
|
|
|
65 |
|
Corporate & other (1) |
|
|
|
|
(203 |
) |
|
|
65 |
|
|
|
|
Interest income (2) |
|
|
|
|
37 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(142 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(318 |
) |
|
|
|
|
|
|
|
$ |
8,928 |
|
|
$ |
1,000 |
|
|
$ |
638 |
|
|
$ |
581 |
|
(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 ($4 million in 2026; $- million in 2025). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in 2026; $- 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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2026 |
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
Income |
|
and |
|
|
Capital |
|
|
Revenue |
|
|
Before Taxes |
|
Amortization |
|
|
Investments (5) |
|
Digital |
$ |
2,030 |
|
|
$ |
522 |
|
|
$ |
115 |
|
|
$ |
211 |
|
Reservoir Performance |
|
4,783 |
|
|
|
754 |
|
|
|
348 |
|
|
|
319 |
|
Well Construction |
|
8,427 |
|
|
|
1,315 |
|
|
|
479 |
|
|
|
410 |
|
Production Systems |
|
11,278 |
|
|
|
1,728 |
|
|
|
458 |
|
|
|
464 |
|
All Other |
|
1,492 |
|
|
|
391 |
|
|
|
258 |
|
|
|
352 |
|
Eliminations & other |
|
(868 |
) |
|
|
(409 |
) |
|
|
215 |
|
|
|
79 |
|
Corporate & other (1) |
|
|
|
|
(643 |
) |
|
|
222 |
|
|
|
|
Interest income (2) |
|
|
|
|
65 |
|
|
|
|
|
|
|
Interest expense (3) |
|
|
|
|
(377 |
) |
|
|
|
|
|
|
Charges and credits (4) |
|
|
|
|
(352 |
) |
|
|
|
|
|
|
|
$ |
27,142 |
|
|
$ |
2,994 |
|
|
$ |
2,095 |
|
|
$ |
1,835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
|
(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 ($14 million in 2026; $1 million in 2025). (3)Interest expense excludes amounts that are included in the segments’ income ($- 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) |
|
|
|
|
|
|
|
|
|
|
Sept. 30, |
|
|
Dec. 31, |
|
|
|
2026 |
|
|
2025 |
|
Digital |
|
$ |
1,024 |
|
|
$ |
925 |
|
Reservoir Performance |
|
|
4,159 |
|
|
|
3,947 |
|
Well Construction |
|
|
6,564 |
|
|
|
6,167 |
|
Production Systems |
|
|
9,987 |
|
|
|
9,373 |
|
All Other |
|
|
2,432 |
|
|
|
2,249 |
|
Eliminations and other |
|
|
1,066 |
|
|
|
1,033 |
|
Goodwill and intangibles |
|
|
22,190 |
|
|
|
21,783 |
|
Cash and short-term investments |
|
|
3,551 |
|
|
|
4,212 |
|
All other assets |
|
|
5,227 |
|
|
|
5,179 |
|
|
|
$ |
56,200 |
|
|
$ |
54,868 |
|
|
| Revenue by Geographic Area |
Revenue by geographic area was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Stated in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter |
|
|
Nine Months |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
North America |
$ |
2,401 |
|
|
$ |
1,930 |
|
|
$ |
6,812 |
|
|
$ |
5,303 |
|
Latin America |
|
1,749 |
|
|
|
1,482 |
|
|
|
4,992 |
|
|
|
4,469 |
|
Europe & Africa (1) |
|
2,437 |
|
|
|
2,434 |
|
|
|
7,078 |
|
|
|
7,038 |
|
Middle East & Asia |
|
2,807 |
|
|
|
3,000 |
|
|
|
8,064 |
|
|
|
8,983 |
|
Other |
|
55 |
|
|
|
82 |
|
|
|
196 |
|
|
|
170 |
|
|
$ |
9,449 |
|
|
$ |
8,928 |
|
|
$ |
27,142 |
|
|
$ |
25,963 |
|
(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 2026 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
168 |
|
|
$ |
523 |
|
|
$ |
2 |
|
|
$ |
693 |
|
Reservoir Performance |
|
154 |
|
|
|
1,472 |
|
|
|
8 |
|
|
|
1,634 |
|
Well Construction |
|
579 |
|
|
|
2,274 |
|
|
|
35 |
|
|
|
2,888 |
|
Production Systems |
|
1,335 |
|
|
|
2,642 |
|
|
|
23 |
|
|
|
4,000 |
|
All Other |
|
231 |
|
|
|
313 |
|
|
|
- |
|
|
|
544 |
|
Eliminations & other |
|
(66 |
) |
|
|
(231 |
) |
|
|
(13 |
) |
|
|
(310 |
) |
|
$ |
2,401 |
|
|
$ |
6,993 |
|
|
$ |
55 |
|
|
$ |
9,449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2026 |
|
|
North |
|
|
|
|
|
|
|
|
|
|
America |
|
|
International |
|
|
Other |
|
|
Total |
|
Digital |
$ |
535 |
|
|
$ |
1,492 |
|
|
$ |
3 |
|
|
$ |
2,030 |
|
Reservoir Performance |
|
443 |
|
|
|
4,325 |
|
|
|
15 |
|
|
|
4,783 |
|
Well Construction |
|
1,676 |
|
|
|
6,624 |
|
|
|
127 |
|
|
|
8,427 |
|
Production Systems |
|
3,800 |
|
|
|
7,392 |
|
|
|
86 |
|
|
|
11,278 |
|
All Other |
|
562 |
|
|
|
930 |
|
|
|
- |
|
|
|
1,492 |
|
Eliminations & other |
|
(204 |
) |
|
|
(629 |
) |
|
|
(35 |
) |
|
|
(868 |
) |
|
$ |
6,812 |
|
|
$ |
20,134 |
|
|
$ |
196 |
|
|
$ |
27,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
|
|
| 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 2026 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
191 |
|
|
$ |
384 |
|
|
$ |
576 |
|
|
$ |
472 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
248 |
|
|
|
808 |
|
|
|
2,302 |
|
Depreciation and amortization |
|
34 |
|
|
|
118 |
|
|
|
157 |
|
|
|
154 |
|
Allocations |
|
86 |
|
|
|
162 |
|
|
|
230 |
|
|
|
137 |
|
Other |
|
188 |
|
|
|
456 |
|
|
|
642 |
|
|
|
289 |
|
|
$ |
499 |
|
|
$ |
1,368 |
|
|
$ |
2,413 |
|
|
$ |
3,354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months 2026 |
|
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
Compensation |
$ |
566 |
|
|
$ |
1,160 |
|
|
$ |
1,737 |
|
|
$ |
1,420 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
762 |
|
|
|
2,327 |
|
|
|
6,445 |
|
Depreciation and amortization |
|
115 |
|
|
|
348 |
|
|
|
479 |
|
|
|
458 |
|
Allocations |
|
265 |
|
|
|
485 |
|
|
|
691 |
|
|
|
410 |
|
Other |
|
562 |
|
|
|
1,274 |
|
|
|
1,878 |
|
|
|
817 |
|
|
$ |
1,508 |
|
|
$ |
4,029 |
|
|
$ |
7,112 |
|
|
$ |
9,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
|
|