NOV (NOV) 10-K 14 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Trading Symbol	NOV
Entity Registrant Name	NOV INC.
Entity Central Index Key	0001021860
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		380,819,811
Entity Public Float			$ 7.4
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NYSE
Entity File Number	1-12317
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0475815
Entity Address, Address Line One	10353 Richmond Avenue
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042-4103
City Area Code	346
Local Phone Number	223-3000
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference [Text Block]	Portions of the Proxy Statement in connection with the 2025 Annual Meeting of Stockholders are incorporated in Part III of this report.
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Houston, Texas
Auditor Opinion	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of NOV Inc. (the Company) as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income, cash flows, and stockholders’ equity for each of the three years in the period ended December 31, 2024, and the related notes and financial statement schedule listed in the Index at Item 15(2) (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated February 14, 2025, expressed an unqualified opinion thereon.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,230	$ 816
Receivables, net	1,819	1,905
Inventories, net	1,932	2,151
Contract assets	577	739
Prepaid and other current assets	212	229
Total current assets	5,770	5,840
Property, plant and equipment, net	1,922	1,865
Lease right-of-use assets, operating	353	372
Lease right-of-use assets, financing	196	172
Deferred income taxes	413	488
Goodwill	1,630	1,562
Intangibles, net	508	450
Investment in unconsolidated affiliates	163	211
Other assets	406	334
Total assets	11,361	11,294
Current liabilities:
Accounts payable	837	904
Accrued liabilities	861	870
Contract liabilities	492	532
Current portion of lease liabilities	102	94
Current portion of long-term debt	37	13
Accrued income taxes	18	22
Total current liabilities	2,347	2,435
Long-term debt	1,703	1,712
Lease liabilities	544	558
Deferred income taxes	56	70
Other liabilities	283	277
Total liabilities	4,933	5,052
Commitments and contingencies
Stockholders’ equity:
Common stock - par value $.01; 1 billion shares authorized; 381,549,541 and 393,945,659 shares issued and outstanding at December 31, 2024 and December 31, 2023	4	4
Additional paid-in capital	8,625	8,812
Accumulated other comprehensive loss	(1,625)	(1,493)
Retained deficit	(628)	(1,155)
Total Company stockholders' equity	6,376	6,168
Noncontrolling interests	52	74
Total stockholders’ equity	6,428	6,242
Total liabilities and stockholders’ equity	$ 11,361	$ 11,294

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	381,549,541	393,945,659
Common stock, shares outstanding	381,549,541	393,945,659

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue
Revenue	$ 8,870	$ 8,583	$ 7,237
Cost of revenue
Cost of revenue	6,860	6,750	5,903
Gross profit	2,010	1,833	1,334
Selling, general and administrative	1,134	1,182	1,070
Operating profit	876	651	264
Interest and financial costs	(91)	(88)	(78)
Interest income	38	28	19
Equity income in unconsolidated affiliates	36	119	68
Other expense, net	(28)	(98)	(35)
Income before income taxes	831	612	238
Provision (benefit) for income taxes	196	(373)	83
Net income	635	985	155
Net loss attributable to noncontrolling interests	0	(8)	0
Net income attributable to Company	$ 635	$ 993	$ 155
Net income attributable to Company per share:
Basic	$ 1.62	$ 2.53	$ 0.40
Diluted	1.6	2.50	0.39
Cash dividends per share	$ 0.275	$ 0.20	$ 0.20
Weighted average shares outstanding:
Basic	392	393	390
Diluted	396	397	394
Sales [Member]
Revenue
Revenue	$ 5,830	$ 5,775	$ 4,873
Cost of revenue
Cost of revenue	4,759	4,798	4,146
Service [Member]
Revenue
Revenue	1,991	1,789	1,482
Cost of revenue
Cost of revenue	1,543	1,367	1,186
Rental [Member]
Revenue
Revenue	1,049	1,019	882
Cost of revenue
Cost of revenue	$ 558	$ 585	$ 571

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 635	$ 985	$ 155
Other comprehensive income:
Currency translation adjustments	(137)	113	(30)
Change in derivative financial instruments, net of tax	(5)	(1)	(11)
Change in defined benefit plans, net of tax	10	(12)	(6)
Comprehensive income	503	1,085	108
Net loss attributable to noncontrolling interests	0	(8)	0
Comprehensive income attributable to Company	$ 503	$ 1,093	$ 108

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 635	$ 985	$ 155
Adjustments to reconcile net income to net cash provided (used in) by operating activities:
Depreciation and amortization	343	302	301
Russia/Belarus impairment and loss on assets held for sale		4	127
Deferred income taxes	49	(489)	(2)
Stock-based compensation	70	66	67
Equity income loss in unconsolidated affiliates	(36)	(119)	(68)
Dividend from unconsolidated affiliate	84
Gain on business divestiture	(130)
Provision for inventory losses	31	28	(18)
Other, net	43	(50)	18
Change in operating assets and liabilities, net of acquisitions:
Receivables	93	(269)	(440)
Inventories	270	(361)	(480)
Contract assets	162	(55)	(220)
Prepaid and other current assets	17	(40)	6
Accounts payable	(87)	(4)	289
Accrued liabilities	(51)	(116)	101
Contract liabilities	(42)	82	52
Income taxes payable	(5)	(6)	5
Other assets/liabilities, net	(142)	185	(72)
Net cash provided by (used in) operating activities	1,304	143	(179)
Cash flows from investing activities:
Purchases of property, plant and equipment	(351)	(283)	(214)
Business acquisitions, net of cash acquired	(298)	(22)	(49)
Business divestitures, net of cash disposed	176
Other, net	2	12	25
Net cash used in investing activities	(471)	(293)	(238)
Cash flows from financing activities:
Borrowings against lines of credit and other debt	420	184	20
Payments against lines of credit and other debt	(431)	(192)	(4)
Financing leases	(28)	(23)	(24)
Cash dividends paid	(108)	(79)	(78)
Shares repurchases	(229)
Other	(30)	7	(10)
Net cash used in financing activities	(406)	(103)	(96)
Effect of exchange rates on cash	(13)		(9)
Increase (decrease) in cash and cash equivalents	414	(253)	(522)
Cash and cash equivalents, beginning of period	816	1,069	1,591
Cash and cash equivalents, end of period	1,230	816	1,069
Cash payments during the period for:
Interest	86	85	75
Income taxes	$ 161	$ 114	$ 117

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Deficit [Member]	Total Company Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2021	$ 5,064	$ 4	$ 8,685	$ (1,546)	$ (2,146)	$ 4,997	$ 67
Begining Balance, shares at Dec. 31, 2021		393
Net income	155				155	155
Other comprehensive income (loss)	(47)			(47)		(47)
Cash dividends, per common share	(78)				(78)	(78)
Stock-based compensation	67		67			67
Withholding taxes	(12)		(12)			(12)
Purchase of equity/Transactions with non-controlling interest	(17)		12			12	(29)
Other	2		2			2
Ending Balance at Dec. 31, 2022	5,134	$ 4	8,754	(1,593)	(2,069)	5,096	38
Ending Balance, shares at Dec. 31, 2022		393
Net income	985				993	993	(8)
Other comprehensive income (loss)	100			100		100
Cash dividends, per common share	(79)				(79)	(79)
Stock-based compensation	66		66			66
Common stock issued		2
Withholding taxes	(18)		(18)			(18)
Withholding taxes, shares		(1)
Purchase of equity/Transactions with non-controlling interest	52		7			7	45
Other	2		3			3	(1)
Ending Balance at Dec. 31, 2023	6,242	$ 4	8,812	(1,493)	(1,155)	6,168	74
Ending Balance, shares at Dec. 31, 2023		394
Net income	635				635	635
Other comprehensive income (loss)	(132)			(132)		(132)
Cash dividends, per common share	(108)				(108)	(108)
Stock-based compensation	70		70			70
Common stock issued		3
Withholding taxes	(15)		(15)			(15)
Withholding taxes, shares		(1)
Share repurchases, values	(229)		(229)			(229)
Share repurchases, shares		(14)
Purchase of equity/Transactions with non-controlling interest	(37)		(16)			(16)	(21)
Other	2		3			3	(1)
Ending Balance at Dec. 31, 2024	$ 6,428	$ 4	$ 8,625	$ (1,625)	$ (628)	$ 6,376	$ 52
Ending Balance, shares at Dec. 31, 2024		382

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash dividends, per common share	$ 0.275	$ 0.20	$ 0.20

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 635	$ 993	$ 155

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	ITEM 1C. CYBERSECURITY As part of the Company’s enterprise risk management, we maintain a cyber risk program with established policies and procedures to detect, prevent, mitigate, and remediate cybersecurity incidents and related risks. The program is led by our Chief Information Security Officer (“CISO”), who has 30 years of experience in information security and is a Certified Information Systems Security Professional. Our CISO reports directly to our Chief Information Officer of Corporate IT, who has over 25 years of experience in all areas of information technology. Our cybersecurity team is comprised of experienced, educated, and certified professionals with decades of experience in cybersecurity leadership roles . Our cyber risk management program is based on recognized industry practices and standards in cybersecurity and information technology. These standards include the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework (“CSF”) and the International Organization for Standardization (“ISO”) 27001. Security controls are managed using an information security management system (“ISMS”), providing a systematic approach consisting of people, processes, and technology. NOV’s ISMS aims to minimize risk and ensure business continuity by proactively limiting the impact of security incidents. Our cybersecurity incident response plan includes an escalation process to senior management, who evaluates various factors related to the cybersecurity incident to assess the impact on the Company and any required disclosures. If a cybersecurity incident was determined to be material by senior management, our Board of Directors would be promptly notified and the incident reported based on applicable legal requirements. Our processes also address cybersecurity risks associated with third-party service providers, including those in our supply chain or who have access to our data or systems. We evaluate third-party service providers from a cybersecurity risk perspective, which may include an assessment of that service provider’s cybersecurity posture or a recommendation of specific mitigation controls. We conduct continuous vulnerability assessments and continuous penetration testing. Additionally, we undergo internal and external assessments of our processes to identify opportunities for improvement and reduce exposure to cybersecurity incidents. The Company’s Board of Directors provides oversight of the Company’s cybersecurity program through periodic updates, typically on a quarterly basis. Additionally, on an annual basis, cybersecurity risks are discussed as part of enterprise risk management. We have not experienced any cybersecurity incidents that have had a material adverse effect on our business, financial condition, results of operations, or cash flows. Although we have not experienced any cybersecurity incidents that are individually, or in aggregate, material, we have experienced cyberattacks in the past, which we believe have thus far been mitigated by preventative, detective, and responsive measures put in place by the Company. We recognize the potential impact of cybersecurity risks on our business strategy, results of operations, and financial condition and take proactive measures to mitigate these risks. See Item 1A. “Risk Factors.”
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company’s Board of Directors provides oversight of the Company’s cybersecurity program through periodic updates, typically on a quarterly basis. Additionally, on an annual basis, cybersecurity risks are discussed as part of enterprise risk management.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	We evaluate third-party service providers from a cybersecurity risk perspective, which may include an assessment of that service provider’s cybersecurity posture or a recommendation of specific mitigation controls. We conduct continuous vulnerability assessments and continuous penetration testing. Additionally, we undergo internal and external assessments of our processes to identify opportunities for improvement and reduce exposure to cybersecurity incidents.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	If a cybersecurity incident was determined to be material by senior management, our Board of Directors would be promptly notified and the incident reported based on applicable legal requirements.
Cybersecurity Risk Role of Management [Text Block]	As part of the Company’s enterprise risk management, we maintain a cyber risk program with established policies and procedures to detect, prevent, mitigate, and remediate cybersecurity incidents and related risks. The program is led by our Chief Information Security Officer (“CISO”), who has 30 years of experience in information security and is a Certified Information Systems Security Professional. Our CISO reports directly to our Chief Information Officer of Corporate IT, who has over 25 years of experience in all areas of information technology. Our cybersecurity team is comprised of experienced, educated, and certified professionals with decades of experience in cybersecurity leadership roles
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The program is led by our Chief Information Security Officer (“CISO”), who has 30 years of experience in information security and is a Certified Information Systems Security Professional. Our CISO reports directly to our Chief Information Officer of Corporate IT, who has over 25 years of experience in all areas of information technology. Our cybersecurity team is comprised of experienced, educated, and certified professionals with decades of experience in cybersecurity leadership roles .
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The program is led by our Chief Information Security Officer (“CISO”), who has 30 years of experience in information security and is a Certified Information Systems Security Professional. Our CISO reports directly to our Chief Information Officer of Corporate IT, who has over 25 years of experience in all areas of information technology. Our cybersecurity team is comprised of experienced, educated, and certified professionals with decades of experience in cybersecurity leadership roles .
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our cybersecurity incident response plan includes an escalation process to senior management, who evaluates various factors related to the cybersecurity incident to assess the impact on the Company and any required disclosures. If a cybersecurity incident was determined to be material by senior management, our Board of Directors would be promptly notified and the incident reported based on applicable legal requirements.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Nature of Business We design, construct, manufacture and sell comprehensive systems, components, and products used in oil and gas drilling and production and certain industrial and renewable energy sectors. We also provide technology and oilfield services and supplies, distribute products and provide supply chain integration services to the upstream oil and gas industry. Our revenues and operating results are directly related to the level of worldwide oil and gas drilling and production activities and the profitability and cash flow of oil and gas companies, drilling contractors and oilfield service companies, which in turn are affected by current and anticipated prices of oil and gas. Oil and gas prices have been, and are likely to continue to be, volatile. Basis of Consolidation The accompanying Consolidated Financial Statements include the accounts of NOV Inc. and its consolidated subsidiaries. Certain reclassifications have been made to the prior year financial statements for them to conform with the 2024 presentation. All significant intercompany transactions and balances have been eliminated in consolidation. Investments that are not wholly owned, but where we exercise control, are fully consolidated with the equity held by minority owners and their portion of net income (loss) reflected as noncontrolling interests in the accompanying consolidated financial statements. Investments in unconsolidated affiliates, over which we exercise significant influence, but not control, are accounted for by the equity method.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Fair Value of Financial Instruments The carrying amounts of financial instruments including cash and cash equivalents, receivables, and payables approximated fair value because of the relatively short maturity of these instruments. Cash equivalents include only those investments having a maturity date of three months or less at the time of purchase. Derivative Financial Instruments The Company records all derivative financial instruments at their fair value in its Consolidated Balance Sheet. Except for certain non-designated hedges discussed in Note 3 below, all derivative financial instruments that the Company holds are designated as cash flow hedges and are highly effective in offsetting movements in the underlying risks. Such arrangements typically have terms between two and 24 months but may have longer terms depending on the underlying cash flows being hedged, typically related to the projects in our backlog. Inventories Inventories are stated at the lower of cost or estimated net realizable value using the first-in, first-out or average cost methods. Inventories consist of raw materials and supplies, work-in-process and finished goods and purchased products. The Company reviews historical usage of inventory on-hand, assumptions about future demand and market conditions, and estimates about potential alternative uses, which are limited, to estimate net realizable value. The Company evaluates inventory using the best information available at the time to inform our assumptions and estimates about future demand and resulting sales volumes, and records reserves as necessary. We recorded charges (credits) to inventory reserves of $ 31 million, $ 28 million, and $ ( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. At December 31, 2024 and 2023, inventory reserves totaled $ 286 million and $ 354 million, or 12.9 % and 14.1 % of gross inventory, respectively. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for major improvements that extend the lives of property and equipment are capitalized while minor replacements, maintenance and repairs are charged to operations as incurred. Disposals are removed at cost less accumulated depreciation with any resulting gain or loss reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of individual items. Depreciation expense was $ 294 million, $ 260 million, and $ 250 million for the years ended December 31, 2024, 2023 and 2022, respectively. The estimated useful lives of the major classes of property, plant and equipment are included in Note 5 to the consolidated financial statements. We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets are impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The carrying value of assets used in operations that are not recoverable is reduced to fair value if lower than carrying value. In determining the fair market value of the assets, we consider market trends and recent transactions involving sales of similar assets, or when not available, discounted cash flow analysis. Acquisitions and Investments Acquisitions of businesses are accounted for using the acquisition method of accounting, and the financial statements include the results of the acquired operations from the respective dates of acquisition. The acquisition price of the acquired entities is preliminarily allocated to the net assets acquired and liabilities assumed based on the estimated fair value at the dates of acquisition, with any excess of acquisition price paid over the fair value of net assets acquired, including intangibles, recognized as goodwill. Subsequent changes to preliminary amounts are made prospectively. The Company paid cash of $ 298 million, $ 22 million, and $ 49 million, net of cash acquired, for acquisitions for the years ended December 31, 2024, 2023 and 2022 , respectively. Foreign Currency The functional currency for most of our foreign operations is the local currency. However, certain foreign operations, including our operations in Norway, use the U.S. dollar as the functional currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income (loss). Revenues and expenses are translated at average exchange rates in effect during the period. Accordingly, financial statements of these foreign subsidiaries are remeasured to U.S. dollars for consolidation purposes using current rates of exchange for monetary assets and liabilities and historical rates of exchange for nonmonetary assets and related elements of expense. Revenue and expense elements are remeasured at rates that approximate the rates in effect on the transaction dates. For all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. Net foreign currency transaction losses were $ 19 million, $ 84 million, and $ 25 million for the years ending December 31, 2024, 2023 and 2022 , respectively, and are included in other expenses, net, in the accompanying consolidated statements of income. Revenue Recognition The majority of the Company’s revenue streams record revenue at a point in time when a performance obligation has been satisfied by transferring control of promised goods or services to a customer. Products are sold or rented and services are provided based upon a fixed or determinable price and do not generally include right of return or other significant post-delivery obligations. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Payment terms and conditions vary by contract type. We have elected to apply the practical expedient that does not require an adjustment for a financing component if, at contract inception, the period between when we transfer the promised goods or service to the customer and when the customer pays for the goods or service is one year or less. Shipping and handling costs are recognized when incurred and are treated as costs to fulfill the original performance obligation instead of as a separate performance obligation. Revenue is generated from contracts that may include multiple performance obligations. The Company considers the degree of customization, integration and interdependency of the related products and services when assessing distinct performance obligations within one contract. Stand-alone selling price (“SSP”) for each distinct performance obligation is generally determined using the price at which the products and services would be sold separately to the customer. Discounts, when provided, are allocated based on the relative SSP of the various products and services. For revenue that is not recognized at a point in time, the Company follows accounting guidance for revenue recognized over time, as follows: Revenue Recognition under Long-term Construction Contracts Revenue is recognized over-time for certain long-term construction contracts in the Energy Equipment segment. These contracts include custom designs for customer-specific applications that are unique and require significant engineering efforts. Revenue is recognized as work progresses on each contract. Right to payment is enforceable for performance completed to date, including a reasonable profit. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost (input) measure of progress for our contracts because it best depicts the transfer of assets to the customer which occurs as we incur costs. Under the cost-to-cost measure of progress, progress towards completion of each contract is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. These costs include labor, materials, subcontractors’ costs, and other direct costs. Any expected losses on a project are recorded in full in the period in which the loss becomes probable. These long-term construction contracts generally include integrating a complex set of tasks and components into a single project or capability, so they are accounted for as one performance obligation. Estimating total revenue and cost at completion of long-term construction contracts is complex, subject to many variables and requires significant judgment. It is common for our long-term contracts to contain late delivery fees, work performance guarantees, and other provisions that can either increase or decrease the transaction price. We estimate variable consideration as the most likely amount we expect to receive. We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur, or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on an assessment of our anticipated performance and historical, current and forecasted information that is reasonably available to us. Net revenue recognized from performance obligations satisfied in previous periods was $ 19 million and $ 39 million for the years ended December 31, 2024 and 2023 , respectively, primarily due to change orders. Service and Repair Work For service and repair contracts, revenue is recognized over time. We generally use the output method to measure progress on service contracts due to the manner in which the customer receives and derives value from the services provided. For repair contracts, we generally use the cost-to-cost measure of progress because it best depicts the transfer of assets to the customer. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for all revenue streams for which work has not been performed on contracts with an original expected duration of one year or more. We do not disclose the remaining performance obligations of royalty contracts, service contracts for which there is a right to invoice, and short-term contracts that are expected to have a duration of one year or less. As of December 31, 2024 , the aggregate amount of the transaction price allocated to remaining performance obligations was $ 4,801 million. Although numerous factors can affect timing of revenue recognized on performance obligations, such as customer change orders and supplier accelerations or delays, the Company expects to recognize approximately $ 1,630 million in revenue for the remaining performance obligations in 2025 , $ 1,333 million in 2026 , $ 567 million in 2027 , and $ 1,271 million thereafter . Costs to Obtain and Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract, such as sales commissions, with a customer when we expect the benefit of those costs to be longer than one year. Costs to fulfill a contract, such as set-up and mobilization costs, are also capitalized when we expect to recover those costs. These contract costs are deferred and amortized over the period of contract performance. Total capitalized costs to obtain and fulfill a contract and the related amortization were immaterial during the periods presented and are included in other current and long-term assets on our consolidated balance sheets. We apply the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. Service and Product Warranties The Company provides service and warranty policies on certain of its products. The Company accrues liabilities under service and warranty policies based upon specific claims and a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience change. In addition, the Company incurs discretionary costs to service its products in connection with product performance issues and accrues for them when they are encountered. The Company monitors the actual cost of performing these discretionary services and adjusts the accrual based on the most current information available. The changes in the carrying amount of service and product warranties are as follows (in millions): Balance at December 31, 2022 $ 70 Net provisions for warranties issued during the year 16 Amounts incurred ( 16 ) Currency translation adjustments and other 2 Balance at December 31, 2023 $ 72 Net provisions for warranties issued during the year 22 Amounts incurred ( 27 ) Currency translation adjustments and other 1 Balance at December 31, 2024 $ 68 Income Taxes The liability method is used to account for income taxes. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to amounts which are more likely than not to be realized. Concentration of Credit Risk We grant credit to our customers, which operate primarily in the oil and gas industry. Concentrations of credit risk are limited because we have many geographically diverse customers, thus spreading trade credit risk. We control credit risk through credit evaluations, credit limits and monitoring procedures. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral but may require letters of credit for certain international sales. Credit losses are provided for in the financial statements. Allowances for credit losses are determined based on a continuous process of assessing the Company’s portfolio on an individual customer basis considering current market conditions and trends. This process consists of a review of historical collection experience, current aging status of the customer accounts, and financial condition of the Company’s customers. Based on a review of these factors, the Company will establish or adjust allowances for specific customers. As of December 31, 2024, and December 31, 2023, the allowance for credit losses totaled $ 67 million and $ 72 million, respectively. Stock-Based Compensation Compensation expense for the Company’s stock-based compensation plans is measured using the fair value method. The fair value of stock option grants and restricted stock is amortized to expense using the straight-line method over the shorter of the vesting period or the remaining employee service period. The Company provides compensation benefits to employees and non-employee directors under share-based payment arrangements, including various employee stock option plans. Environmental Liabilities When environmental assessments or remediations are probable and the costs can be reasonably estimated, remediation liabilities are recorded on an undiscounted basis and are adjusted as further information develops or circumstances change. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect reported and contingent amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Such estimates include but are not limited to, estimated losses on accounts receivable, estimated costs and related margins of projects accounted for over time, estimated realizable value on excess and obsolete inventory, contingencies, estimated liabilities for litigation and environmental exposures and liquidated damages, estimated warranty costs, estimates related to pension accounting, estimates related to the fair value of reporting units for purposes of assessing goodwill and other indefinite-lived intangible assets for impairment and estimates related to valuation allowances on deferred tax assets. Actual results could differ from those estimates. Contingencies The Company accrues for costs relating to litigation claims and other contingent matters, including liquidated damage liabilities, when such liabilities become probable and reasonably estimable. In circumstances where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than others, the low end of the range is accrued. Such estimates may be based on advice from third parties or on management’s judgment, as appropriate. Revisions to contingent liabilities are reflected in income in the period in which different facts or information become known or circumstances change that affect the Company’s previous judgments with respect to the likelihood or amount of loss. Amounts paid upon the ultimate resolution of contingent liabilities may be materially different from previous estimates and could require adjustments to the estimated reserves to be recognized in the period such new information becomes known. Net Income Attributable to Company Per Share The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data): Year Ended December 31, 2024 2023 2022 Numerator: Net income attributable to Company $ 635 $ 993 $ 155 Denominator: Basic—weighted average common shares outstanding 392 393 390 Dilutive effect of employee stock options and other unvested 4 4 4 Diluted outstanding shares 396 397 394 Net income attributable to Company per share: Basic $ 1.62 $ 2.53 $ 0.40 Diluted $ 1.60 $ 2.50 $ 0.39 Cash dividends per share $ 0.275 $ 0.20 $ 0.20 Net income attributable to Company allocated to participating securities was immaterial for the years ended December 31, 2024, 2023 and 2022 and therefore not excluded from net income attributable to Company per share calculation. The Company had stock options outstanding that were anti-dilutive totaling 16 million, 18 million, and 20 million at December 31, 2024, 2023 and 2022 , respectively. Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which is intended to improve the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide for required income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company prospectively to all annual periods beginning after December 15, 2024. The Company continues to evaluate the impact of this standard on its disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures” (“ASU 2024-03”), which improves the disclosures required for certain expense captions in the Company’s annual and interim consolidated financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. The Company is currently evaluating the impact of this standard on its disclosures. Recently Adopted Accounting Standards The Company has adopted ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), effective retrospectively for the fiscal year ended December 31, 2024 . ASU 2023-07 improves the disclosures required for operating segments in the Company’s annual and interim consolidated financial statements. As a result of this adoption, the Company’s segment disclosure now includes significant expense categories and the segment performance metric. See Note 16 to the Consolidated Financial Statements for the disclosures associated with the adoption of ASU 2023-07.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	3. Derivative Financial Instruments The Company uses derivative financial instruments to manage its foreign currency exchange rate risk. Forward currency contracts are executed to manage the foreign currency exchange rate risk on forecasted revenues and expenses denominated in currencies other than the functional currency of the operating unit (cash flow hedge). The Company also executes forward currency contracts to manage the foreign currency exchange rate risk on recognized nonfunctional currency monetary accounts (non-designated hedge). At December 31, 2024, the Company has determined the fair value of its derivative financial instruments representing assets of $ 5 million and liabilities of $ 26 million (currency related derivatives) using level 2 inputs (inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability) in the fair value hierarchy as the fair value is based on publicly available foreign exchange and interest rates at each financial reporting date. At December 31, 2024, the net fair value of the Company’s foreign currency forward contracts totaled a net liability of $ 21 million. Forward currency contracts consist of (in millions): Currency Denomination Currency December 31, 2024 December 31, 2023 Colombian Peso COP 60,970 COP 57,487 South Korean Won KRW 45,130 KRW — Norwegian Krone NOK 2,850 NOK 2,179 Japanese Yen JPY 1,039 JPY 1,118 U.S. Dollar USD 1,031 USD 677 Mexican Peso MXN 405 MXN 157 Euro EUR 95 EUR 102 South African Rand ZAR 25 ZAR 25 Singapore Dollar SGD 12 SGD 23 Danish Krone DKK 3 DKK 2 Canadian Dollar CAD 1 CAD 1 Brazilian Real BRL — BRL 291 British Pound Sterling GBP — GBP 5 Cash Flow Hedging Strategy To protect against the volatility of forecasted foreign currency cash flows resulting from forecasted revenues and expenses, the Company maintains a cash flow hedging program. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is recorded in accumulated other comprehensive loss and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings (e.g., in “revenues” when the hedged transactions are cash flows associated with forecasted revenues). The Company includes time value in hedge relationships. The Company expects accumulated other comprehensive loss of $ 12 million will be reclassified into earnings within the next twelve months. Non-designated Hedging Strategy The Company enters into forward exchange contracts to hedge certain nonfunctional currency monetary accounts. The gain or loss on the derivative instrument is recognized in earnings in other income (expense), together with the changes in the hedged nonfunctional monetary accounts. The amount of gain (loss) recognized in other expenses, net was $ 23 million, $ ( 10 ) million and $ ( 18 ) million for the years ended 2024, 2023 and 2022, respectively. The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions): Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives Fair Value Fair Value Balance Sheet December 31, Balance Sheet December 31, Location 2024 2023 Location 2024 2023 Derivatives designated as hedging Foreign exchange contracts Prepaid and other current assets $ 1 $ 8 Accrued liabilities $ 13 $ 2 Foreign exchange contracts Other assets — — Other liabilities 1 1 Total derivatives designated as hedging $ 1 $ 8 $ 14 $ 3 Derivatives not designated as hedging Foreign exchange contracts Prepaid and other current assets $ 4 $ 11 Accrued liabilities $ 11 $ 17 Foreign exchange contracts Other assets — — Other liabilities 1 1 Total derivatives not designated $ 4 $ 11 $ 12 $ 18 Total derivatives $ 5 $ 19 $ 26 $ 21

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories, net	4. Inventories, net Inventories consist of (in millions): December 31, 2024 2023 Raw materials and supplies $ 394 $ 479 Work in process 181 230 Finished goods and purchased products 1,643 1,796 2,218 2,505 Less: Inventory reserve ( 286 ) ( 354 ) Total $ 1,932 $ 2,151

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	5. Property, Plant and Equipment, net Property, plant and equipment consist of (in millions): Estimated December 31, Useful Lives 2024 2023 Land $ 165 $ 180 Buildings and improvements 5 - 35 Years 1,278 1,285 Operating equipment 2 - 20 Years 2,813 2,803 Rental equipment 2 - 15 Years 1,076 923 5,332 5,191 Less: Accumulated Depreciation ( 3,410 ) ( 3,326 ) $ 1,922 $ 1,865

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets The Company has approximately $ 1.6 billion of goodwill and $ 508 million of identified intangible assets at December 31, 2024. Goodwill is identified by segment as follows (in millions): Energy Products and Services Energy Equipment Total Balance at December 31, 2022 $ 729 $ 776 $ 1,505 Goodwill acquired during period — 40 40 Adjustment during the measurement period of assets acquired 17 — 17 Balance at December 31, 2023 $ 746 $ 816 $ 1,562 Goodwill acquired during period 70 — 70 Currency translation adjustments and other ( 2 ) — ( 2 ) Balance at December 31, 2024 (1) $ 814 $ 816 $ 1,630 (1) Accumulated goodwill impairment was $ 7,261 million as of December 31, 2024 . Identified intangible assets with determinable lives consist primarily of customer relationships, trademarks, trade names, patents, and technical drawings acquired in acquisitions, and are being amortized in a manner consistent with the underlying cash flows over the estimated useful lives of 2 - 40 years. Amortization expense of identified intangibles is expected to be approximately $ 51 million, $ 49 million, $ 45 million, $ 40 million, and $ 30 million for the next five years. As of December 31, 2024, we provisionally recorded $ 102 million of amortizable intangible assets that were acquired through several strategic acquisitions made during the year. The fair value of the assets acquired are preliminary and subject to change until we finalize our accounting for these acquisitions. The net book values of identified intangible assets are identified by segment as follows (in millions): Energy Products and Services Energy Equipment Total Balance at December 31, 2022 $ 319 $ 171 $ 490 Additions to intangible assets 2 — 2 Amortization ( 22 ) ( 21 ) ( 43 ) Currency translation adjustments and other — 1 1 Balance at December 31, 2023 $ 299 $ 151 $ 450 Additions to intangible assets 1 6 7 Intangible assets acquired 102 — 102 Amortization ( 28 ) ( 21 ) ( 49 ) Currency translation adjustments and other — ( 2 ) ( 2 ) Balance at December 31, 2024 $ 374 $ 134 $ 508 Identified intangible assets by major classification consist of the following (in millions): Gross Accumulated Net Book Value December 31, 2023: Customer relationships $ 494 $ ( 369 ) $ 125 Trademarks 174 ( 133 ) 41 Patents 129 ( 75 ) 54 Indefinite-lived trade names 196 — 196 Other 105 ( 71 ) 34 Total identified intangibles $ 1,098 $ ( 648 ) $ 450 December 31, 2024: Customer relationships $ 531 $ ( 388 ) $ 143 Trademarks 194 ( 139 ) 55 Patents 153 ( 85 ) 68 Indefinite-lived trade names 196 — 196 Other 125 ( 79 ) 46 Total identified intangibles $ 1,199 $ ( 691 ) $ 508 The following table presents intangible assets that were acquired during the year ended December 31, 2024 by major classification (in millions): Gross Accumulated Net Book Value Weighted Average Amortization Period (in years) December 31, 2024: Customer relationships $ 39 $ ( 3 ) $ 36 9.2 Trademarks 21 ( 2 ) 19 9.6 Patents 27 ( 4 ) 23 5.0 Other 15 — 15 5.0 Total identified intangibles $ 102 $ ( 9 ) $ 92 7.6 Goodwill represents the excess of acquisition price paid over the fair value of the tangible and identifiable intangible assets acquired and liabilities assumed. Goodwill and intangibles with indefinite lives are not amortized. Goodwill is assigned to the reporting units that are expected to benefit from the synergies of a business combination. The recoverability of goodwill and indefinite-lived intangibles is assessed annually, or more frequently whenever events or circumstances indicate they might be impaired. The Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit or indefinite lived intangible asset is greater than its carrying amount. If the qualitative assessment indicates that it is more likely than not that the fair value of a reporting or indefinite lived intangible asset is greater than its carrying amount, no further testing is required. However, if the Company concludes otherwise, then it is required to perform a quantitative assessment. If and when the Company performs a quantitative assessment, it compares the reporting unit’s carrying value to the respective fair value. Fair value of the reporting unit is determined using significant unobservable inputs, or level 3 in the fair value hierarchy. These inputs are based on internal management estimates, forecasts and judgments, using discounted cash flow. The discounted cash flow is based on management’s forecast of operating performance for the reporting unit. The two main assumptions used in measuring goodwill impairment, which bear the risk of change and could impact the Company’s goodwill impairment analysis, include the cash flows from operations from each reporting unit and its weighted average cost of capital. The starting point for each of the reporting unit’s cash flows from operations is the detailed annual plan or updated forecast. Cash flows beyond the updated forecasted operating plans are estimated using a terminal value calculation, which incorporates historical and forecasted financial cyclical trends for each reporting unit and considered long-term earnings growth rates. The financial and credit market volatility directly impacts our fair value measurement through our weighted average cost of capital that we use to determine our discount rate. During times of volatility, significant judgment must be applied to determine whether credit changes are a short-term or long-term trend. The quantitative analysis for indefinite lived intangible assets is performed similarly using an income approach. Management reviews finite-lived intangibles for indicators of impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Cash flows expected to be generated by the finite-lived intangibles are estimated over the intangible asset’s useful life based on updated projections on an undiscounted basis. If the evaluation indicates that the carrying value of the finite-lived intangible asset may not be recoverable, the potential impairment is measured at fair value. During the fourth quarter of 2024, the Company performed its annual impairment test, as described in ASC Topic 350, by electing to first perform a qualitative assessment. Based on the results of the assessment, the Company concluded it was more likely than not that the fair values of each of its reporting units and indefinite lived intangible assets was greater than its carrying value and no further testing was performed. No impairment of goodwill or indefinite-lived intangible assets was recorded in 2024 or 2023 .

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	7. Accrued Liabilities Accrued liabilities consist of (in millions): December 31, 2024 2023 Compensation $ 268 $ 294 Vendor costs 141 133 Taxes (non-income) 119 112 Warranty 68 72 Insurance 43 44 Fair value of derivatives 24 19 Commissions 16 17 Interest 11 8 Other 171 171 Total $ 861 $ 870

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	8. Leases The Company leases certain facilities and equipment to support its operations around the world. These leases generally require the Company to pay maintenance, insurance, taxes and other operating costs in addition to rent. Renewal options are common in longer term leases; however, it is rare that the Company intends to exercise a lease option at inception due to the cyclical nature of the Company’s business. Residual value guarantees are not typically part of the Company’s leases. Occasionally, the Company sub-leases excess facility space, generally at terms similar to the source lease. The Company reviews new agreements to determine if they include a lease and, when they do, uses its incremental borrowing rate to determine the present value of the future lease payments as most do not include implicit interest rates. Components of leases are as follows (in millions): December 31, 2024 2023 Current portion of lease liabilities: Operating $ 72 $ 70 Financing 30 24 Total $ 102 $ 94 December 31, 2024 2023 Long-term portion of lease liability: Operating $ 301 $ 343 Financing 243 215 Total $ 544 $ 558 Components of lease expense were as follows (in millions): Year Ended December 31, 2024 2023 Lease cost Finance lease cost Amortization of right-of-use assets $ 28 $ 23 Interest on lease liabilities 10 10 Operating lease cost 90 85 Short-term lease cost 69 77 Sub-lease income ( 6 ) ( 8 ) Total $ 191 $ 187 Supplemental information related to the Company’s leases is as follows (in millions): Years Ended 2024 2023 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 10 $ 10 Operating cash flows - operating leases 90 85 Financing cash flows - finance leases 28 23 Right-of-use assets obtained in exchange for new: Operating lease liabilities $ 65 $ 68 Finance lease liabilities 28 27 Weighted average remaining lease term at December 31, 2024: Operating leases 11 years 10 years Finance leases 16 years 16 years Weighted average discount rate at December 31, 2024: Operating leases 5.25 % 5.17 % Finance leases 4.42 % 4.15 % Future minimum lease commitments for leases with initial or remaining terms of one year or more at December 31, 2024, are payable as follows (in millions): Operating Finance 2025 $ 91 $ 41 2026 75 36 2027 58 29 2028 47 23 2029 36 20 Thereafter 175 190 Total lease payments 482 339 Less: Interest ( 109 ) ( 66 ) Present value of lease liabilities $ 373 $ 273

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	9. Debt Debt consists of (in millions): December 31, 2024 2023 $ 1.1 billion in Senior Notes, interest at 3.95 % payable December 1, 2042 $ 1,091 $ 1,091 $ 0.5 billion in Senior Notes, interest at 3.60 % payable December 1, 2029 496 495 Other debt 153 139 Total debt 1,740 1,725 Less current portion 37 13 Long-term debt $ 1,703 $ 1,712 Principal payments of debt for years subsequent to 2024 are as follows (in millions): 2025 $ 37 2026 43 2027 12 2028 12 2029 513 Thereafter 1,137 $ 1,754 On September 12, 2024, the Company entered into a new $ 1.5 billion five-year unsecured revolving credit facility. This new credit facility replaced the Company’s previous $ 2.0 billion revolving credit facility. The Company has the right to increase the aggregate commitments under this new agreement to an aggregate amount of up to $ 2.5 billion upon the consent of only those lenders holding any such increase. Interest under the multicurrency facility is based upon Secured Overnight Financing Rate (SOFR), Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), Canadian Overnight Repo Rate Average (CORRA), or Norwegian Interbank Offered Rate (NIBOR), plus 1.25 % subject to a ratings-based grid or the U.S. prime rate. The new credit facility contains a financial covenant establishing a maximum debt-to-capitalization ratio of 60 %. As of December 31, 2024 , the Company was in compliance with a debt-to-capitalization ratio of 23.8 % and had no outstanding borrowings or letters of credit issued under the facility, resulting in $ 1.5 billion of available funds. A consolidated joint venture of the Company borrowed $ 120 million against a $ 150 million bank line of credit for the construction of a facility in Saudi Arabia. Interest under the bank line of credit is based upon SOFR plus 1.40 %. The bank line of credit contains a financial covenant regarding maximum debt-to-equity ratio of 75 %. As of December 31, 2024 , the joint venture was in compliance. The facility construction was completed in the fourth quarter of 2022, and the joint venture will not have future borrowings on the line of credit. The line of credit repayment schedule began in December 2022 with final payment no later than June 2032 . As of December 31, 2024 , the Company has a carrying value of $ 94 million in borrowings related to this line of credit. The carrying value of debt under the Company’s consolidated joint venture approximates fair value because the interest rates are variable and reflective of current market rates. The Company has $ 11 million in payments related to this line of credit due in the next twelve months. The Company can repay the entire outstanding facility balance without penalty at its sole discretion. Other debt at December 31, 2024 included $ 58 million of amounts owed to current and former minority interest partners of NOV consolidated joint ventures, of which $ 27 million is due in the next twelve months. The Company had $ 500 million of outstanding letters of credit at December 31, 2024, primarily in the U.S. and Norway, that are under various bilateral letter of credit facilities. Letters of credit are issued as bid bonds, advanced payment bonds and performance bonds. At December 31, 2024 and 2023 , the fair value of the Company’s unsecured Senior Notes approximated $ 1,285 million and $ 1,316 million, respectively. The fair value of the Company’s debt is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those of similar instruments. At December 31, 2024 and 2023 , the carrying value of the Company’s unsecured Senior Notes approximated $ 1,587 million and $ 1,586 million, respectively.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	10. Employee Benefit Plans We have benefit plans covering substantially all our employees. Defined-contribution retirement plans cover most of the U.S. and Canadian employees, and benefits are generally based on employee deferrals and matching on those employee contributions. We also have defined contribution plans in Norway and the United Kingdom. For the years ended December 31, 2024, 2023 and 2022 , expenses for defined-contribution retirement plans were $ 85 million, $ 84 million, and $ 67 million, respectively, and all funding is current. During the year ended December 31, 2023, the Company completed the settlement and termination of its defined benefit plan in the United States, resulting in excess plan assets being returned to the Company and an immaterial recognition of non-cash, pre-tax charges from accumulated other comprehensive loss to selling, general and administrative expenses in our consolidated statement of income. During the year ended December 31, 2022, the Company offered a new benefit plan providing retiree medical coverage in the United States, and as of December 31, 2024 , approximately 9,300 employees are eligible for this coverage. In addition, approximately 750 U.S. retirees and/or spouses participate in plans that provide post-retirement healthcare and/or life insurance benefits. The change in benefit obligation, plan assets and the funded status of the defined benefit pension plans in the United States, United Kingdom, Norway, Germany and the Netherlands and defined postretirement plans in the United States, using a measurement date of December 31, 2024 and 2023, is as follows (in millions): Pension benefits Postretirement benefits At year end 2024 2023 2024 2023 Benefit obligation at beginning of year $ 206 $ 382 $ 48 $ 50 Service cost — — 2 2 Interest cost 8 10 3 2 Actuarial loss (gain) ( 13 ) 6 ( 2 ) ( 3 ) Benefits paid ( 11 ) ( 16 ) ( 6 ) ( 6 ) Exchange rate loss (gain) ( 6 ) 8 — — Settlements — ( 184 ) ( 2 ) — Special Termination Benefits — — — 3 Benefit obligation at end of year $ 184 $ 206 $ 43 $ 48 Fair value of plan assets at beginning of year $ 180 $ 381 $ — $ — Actual return 6 2 — — Benefits paid ( 11 ) ( 16 ) ( 6 ) ( 6 ) Company contributions 2 ( 11 ) 8 6 Exchange rate gain (loss) ( 4 ) 8 — — Settlements — ( 184 ) ( 2 ) — Fair value of plan assets at end of year $ 173 $ 180 $ — $ — Funded status $ ( 11 ) $ ( 26 ) $ ( 43 ) $ ( 48 ) Accumulated benefit obligation at end of year $ 183 $ 205 Liabilities associated with the funded status of the defined benefit pension plans are included in the balances of accrued liabilities and other liabilities in the accompanying Consolidated Balance Sheets. Defined Benefit Pension Plans Net periodic benefit income (cost) for our defined benefit pension plans aggregated $( 3 ) million, $( 2 ) million, and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Assumed long-term rates of return on plan assets, discount rates and rates of compensation increases vary for the different plans according to the local economic conditions. The assumption rates used for benefit obligations are as follows: Year Ended December 31, 2024 2023 Discount rate: United States plan 4.90 % 5.50 % - 5.60 % International plans 3.40 % - 5.40 % 3.20 % - 4.50 % Salary increase: United States plan N/A N/A International plans 2.50 % - 3.50 % 2.50 % - 3.75 % The assumption rates used for net periodic benefit costs are as follows: Year Ended December 31, 2024 2023 2022 Discount rate: United States plan 5.50 % - 5.60 % 4.74 % - 5.20 % 1.80 % - 2.20 % International plans 3.20 % - 4.50 % 3.30 % - 4.80 % 1.00 % - 1.90 % Salary increase: United States plan N/A N/A N/A International plans 2.50 % - 3.75 % 2.50 % - 3.75 % 2.50 % - 3.40 % Expected return on assets: United States plan N/A 4.74 % 1.84 % International plans 3.20 % - 5.40 % 3.20 % - 4.90 % 1.00 % - 4.00 % In determining the overall expected long-term rate of return for plan assets, the Company takes into consideration the historical experience as well as future expectations of the asset mix involved. As different investments yield different returns, each asset category is reviewed individually and then weighted for significance in relation to the total portfolio. The majority of our plans have projected benefit obligations in excess of plan assets. The Company expects to pay future benefit amounts on its pension plans of approximately $ 12 million for each of the next five years and aggregate payments of $ 125 million. Plan Assets The Company and its investment advisers collaboratively reviewed market opportunities using historic and statistical data, as well as the actuarial valuation reports for the plans, to ensure that the levels of acceptable return and risk are well-defined and monitored. Currently, the Company’s management believes that there are no significant concentrations of risk associated with plan assets. Our pension investment strategy worldwide prohibits a direct investment in our own stock. The following table sets forth by level, within the fair value hierarchy, the plan’s assets carried at fair value (in millions): Fair Value Measurements Total Level 1 Level 2 Level 3 December 31, 2023: Equity securities $ — $ — $ — $ — Bonds 84 — 84 — Other (insurance contracts) 96 — 31 65 Total Fair Value Measurements $ 180 $ — $ 115 $ 65 December 31, 2024: Equity securities $ — $ — $ — $ — Bonds 90 — 90 — Other (insurance contracts) 83 — 20 63 Total Fair Value Measurements $ 173 $ — $ 110 $ 63 Level 3 inputs are unobservable (i.e., supported by little or no market activity). Level 3 inputs include management’s own judgment about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). The return on assets for Level 3 plan assets are immaterial for all periods presented

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	11. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are as follows (in millions): Derivative Employee Currency Financial Benefit Translation Instruments, Plans, Adjustments Net of Tax Net of Tax Total Balance at December 31, 2021 $ ( 1,515 ) $ 7 $ ( 38 ) $ ( 1,546 ) Accumulated other comprehensive income ( 30 ) ( 17 ) ( 4 ) ( 51 ) Amounts reclassified from accumulated other — 6 ( 2 ) 4 Balance at December 31, 2022 $ ( 1,545 ) $ ( 4 ) $ ( 44 ) $ ( 1,593 ) Accumulated other comprehensive income 101 ( 21 ) ( 13 ) 67 Amounts reclassified from accumulated other 12 20 1 33 Balance at December 31, 2023 $ ( 1,432 ) $ ( 5 ) $ ( 56 ) $ ( 1,493 ) Accumulated other comprehensive income ( 138 ) ( 12 ) 10 ( 140 ) Amounts reclassified from accumulated other 1 7 — 8 Balance at December 31, 2024 $ ( 1,569 ) $ ( 10 ) $ ( 46 ) $ ( 1,625 ) The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions): Year Ended December 31, 2024 2023 2022 Currency Derivative Employee Currency Derivative Employee Currency Derivative Employee Translation Financial Benefit Translation Financial Benefit Translation Financial Benefit Adjustments Instruments Plans Total Adjustments Instruments Plans Total Adjustments Instruments Plans Total Revenue $ — $ 5 $ — $ 5 $ — $ 11 $ — $ 11 $ — $ 3 $ — $ 3 Cost of revenue 1 4 — 5 12 9 — 21 — 6 — 6 Selling, general, — — — — — — 1 1 — — ( 2 ) ( 2 ) Tax effect — ( 2 ) — ( 2 ) — — — — — ( 3 ) — ( 3 ) $ 1 $ 7 $ — $ 8 $ 12 $ 20 $ 1 $ 33 $ — $ 6 $ ( 2 ) $ 4 The Company’s reporting currency is the U.S. dollar. A majority of the Company’s international entities in which there is a substantial investment have the local currency as their functional currency. As a result, currency translation adjustments resulting from the process of translating the entities’ financial statements into the reporting currency are reported in other comprehensive income or (loss). The Company recorded other comprehensive (loss) income of $( 137 ) million, $ 113 million and $( 30 ) million for the years ended December 31, 2024, 2023 and 2022, respectively. The effect of changes in the fair values of derivatives designated as cash flow hedges are accumulated in other comprehensive income (loss), net of tax, until the underlying transactions are realized. The movement in other comprehensive income (loss) from period to period will be the result of the combination of changes in fair value of open derivatives and the outflow of other comprehensive income (loss) related to cumulative changes in the fair value of derivatives that have settled in the current period. The accumulated effect was other comprehensive income (loss) of $( 5 ) million (net of $( 2 ) million tax), $( 1 ) million (net of $ 3 million tax), and $( 11 ) million (net of $( 3 ) million tax) for the years ended December 31, 2024, 2023 and 2022 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Our business is governed by laws and regulations, including those directed to the oilfield service industry, promulgated by U.S. federal and state governments and regulatory agencies, as well as international governmental authorities in the many countries in which we conduct business. In the United States, these governmental authorities include the U.S. Department of Labor, the Occupational Safety and Health Administration, the Environmental Protection Agency, the Bureau of Land Management, the Department of Treasury, Office of Foreign Assets Control, state environmental agencies and many others. We are unaware of any material liabilities in connection with our compliance with such laws. New laws, regulations and enforcement policies may result in additional, presently unquantifiable, or unknown, costs or liabilities. From time to time, the Company is involved in various claims, regulatory agency audits, investigations and legal actions involving a variety of matters. The Company maintains insurance that covers claims such as third-party personal injury or property damage claims arising from risks associated with the business activities of the Company, including premises liability, product liability, marine risk, property damage, and other insurable losses. The Company carries substantial insurance to cover insurable risks above a self-insured retention. The Company also from time to time may be a party to claims, threatened and actual litigation, arbitration, and internal investigations of potential regulatory and compliance matters which may arise from the Company’s business activities, some of which may not involve insured claims. The Company believes, and the Company’s experience has been, that such insurance has been sufficient to cover its material risks from operations. The regulatory matters and disputes which the Company faces may involve private parties and/or government authorities who may assert a broad variety of potential claims against the Company, such as employment law claims, collective actions or class action claims, intellectual property claims (such as alleged patent infringement, and/or misappropriation of trade secrets by the Company), premises liability claims, environmental claims, product liability claims, warranty claims, personal injury claims arising from exposure to or use of allegedly defective products or from activities of the Company, alleged regulatory violations, alleged violations of anti-corruption and anti-bribery, trade, customs or other laws and other commercial and/or regulatory claims seeking recovery for alleged actual or exemplary damages or fines and penalties. Such claims involve various theories of liability which may include negligence, breach of contract, strict liability, product liability, and others. For some of these contingent claims and potential liabilities, the Company’s insurance coverage may not apply, or exclusions to coverage or legal impediments may apply. In such instances, settlement or other resolution of such claims, individually or collectively, could have a material financial or reputational impact on the Company. As of December 31, 2024, in the ordinary course of business, the Company recorded reserves in an amount believed to be sufficient, given the estimated range of potential outcomes, for contingent liabilities believed to be probable. These reserves include costs currently and reasonably estimated to be incurred for reclamation of a closed barite mine and product liability claims, as well as other circumstances involving material claims. The Company periodically assesses the potential for losses above the amounts accrued as well as potential losses for matters that are believed to be not probable, but which are reasonably possible. The Company sets accruals in accordance with GAAP based on its best judgment about the probable results of disputed claims, regulatory enforcement actions, tax and other governmental audits, and other contingencies. The litigation process and the outcome of regulatory oversight is inherently uncertain, and our best judgment concerning the probable outcome of litigation or regulatory enforcement matters may prove to be incorrect. No assurance can be given as to the outcome of these matters. The total potential loss on these matters cannot be determined; however, in our opinion, any ultimate liability, to the extent not otherwise provided for, should not materially affect our financial position, cash flows or results of operations. These estimated liabilities are based on the Company’s assessment of the nature of these matters, their progress toward resolution, the advice of legal counsel and outside experts as well as management’s experience. Because of the uncertainty and risk inherent to litigation, arbitration, audits, governmental investigations, enforcement actions, and similar matters, the Company’s actual liabilities incurred may materially exceed our estimated liabilities and reserves, which could have a material financial or reputational impact on the Company. In many instances, the Company’s products and services embody or incorporate trade secrets or patented inventions. From time to time, we are engaged in disputes concerning protection of the Company’s trade secrets and confidential information, patents, and other intellectual property rights. Such disputes frequently involve complex, factual, technical and/or legal issues which result in high costs to adjudicate our rights and for which it may be difficult to predict the ultimate outcome. At any given time, the Company may be a plaintiff or defendant in disputes involving disputed intellectual property rights. The Company is currently pursuing litigation against several companies involving royalties due under licenses for technology related to drill bits. This technology resulted in a portfolio of patents related to leaching technology, a revolutionary technology owned by the Company that improves the performance of drill bits and other products utilizing certain synthetic diamond parts. The Company previously sued several drill bit manufacturers for patent infringement and those lawsuits were resolved by a series of licensing agreements with various drill bit manufacturers. To settle and end litigation or to avoid litigation, the licensees were provided access to the portfolio of leaching patents owned by the Company in exchange for a royalty payment, as defined in each license agreement. The companies agreed to pay the royalties for the right to use the portfolio of patents, whether they used some, all or none of the specific patented claims in any particular patent. The license agreements provide that they terminate on the date of the last to expire of the patents in the licensed portfolio. Having obtained the benefit of these licenses for more than a decade, all of the drill bit manufacturer licensees unilaterally stopped making royalty payments even though all of the patents in the portfolio have not expired. These companies have asserted, among other reasons, that they are entitled to stop making these payments because they claim to not manufacture products covered by the unexpired patents. Some of these companies stopped making payments after the expiration of what are allegedly the patents in the portfolio that they elected to use. Others paid for some period of time after that date but have since stopped making payments. The Company has sued asserting that failure to pay the royalties is a breach of the license agreements at issue. The Company is in litigation with most of the licensees seeking a judicial determination that it is entitled to be paid royalties pursuant to the terms of the licenses. The licensees have responded with a number of alleged defenses and requests for declaratory judgment all focused on avoiding the payments called for under the licenses. The parties’ legal filings to date can be found in two cases currently pending in the United States District Court for the Southern District of Texas: Grant Prideco, Inc., et al. v. Schlumberger Tech. Corp., et al., No. 4:23-cv-00730; and Halliburton Energy Serv, Inc. v. Grant Prideco, Inc., et al., No. 4:23-cv-01789. While the Company strongly believes that the royalties for which it has sued are due and owing pursuant to the terms of the licensing agreements, there is inherent risk with the related litigation and the Company makes no assurances as to the outcome of such litigation. See Note 14 to the Consolidated Financial Statements for discussion of the financial impact of royalties. The protection of intellectual property is important to the Company’s performance, and as such, an adverse result in disputes related to our intellectual property could result in materially adverse financial consequences such as a decline in sales of products protected by patents, which could materially and adversely impact our financial performance. From time to time purchasers of our products and services or members of our supply chain or sales chain become involved in litigation, governmental investigations, internal investigations, political or other enforcement matters, or other dispute proceedings. In such circumstances, such proceedings may adversely impact the ability of purchasers of our products, entities providing financial support to such consumers or entities in the supply chain or sales chain to timely perform their business plans or to timely perform under agreements with us. We may, from time to time, become involved in these proceedings at substantial cost to the Company. The Company is exposed to customs and trade regulation risk, including tariffs, in the countries in which we do business and countries from which, or to which, we import or export goods. Such trade regulations can be complex and conflicting, as different countries use trade regulation to promote conflicting policy objectives. Compliance with these laws and regulations presents challenges which could result in future liabilities (for example, alleged violation of those laws or when laws conflict between countries). The Company may face increased tariffs and trade costs, loss of revenue, loss of customers, fines, penalties, increased costs, the need for renegotiation of agreements, and other business disruptions. Trade regulations, supply chain regulations, and other regulatory compliance in different jurisdictions may conflict with one another or with contractual terms with our various counterparties. In such circumstances, our compliance with U.S. laws and regulations may subject us to risk of fines, penalties, or contractual liability in other jurisdictions. Our efforts to actively manage such risks may not always be successful, and this could lead to negative impacts on revenue or earnings. In addition, trade regulations, export controls, and other laws adversely impact our ability to do business in certain countries, e.g., Iran, Syria, Russia, China and Venezuela. In response to additional sanctions enacted by governments in the European Union, the United States, the United Kingdom, Switzerland, and other countries regarding the armed conflict in Ukraine, we ceased new investments in Russia and have curtailed our activities there. During the third quarter of 2022, we sold our business in Belarus and entered into an agreement to sell our business in Russia. The sale is subject to various government approvals in Russia, the U.S. and E.U. The Russian government continues to enact new laws impacting the exit of western companies from Russia, including some instances of expropriation of western businesses. We may incur additional costs as a result of conditions in Russia if we are unable to complete the transaction to sell our Russian business on the terms of the agreements. Geopolitical events continue to pose supply chain and other business risks. The Company’s ability to manufacture equipment and perform services could be impaired by such disruptions and the Company could be exposed to liabilities resulting from additional interruption or delay in its ability to perform due to factors such as war, materials shortages, inflationary pressures, limited manpower or otherwise. We may face loss of workers, labor shortages, litigation, fines and/or other adverse consequences resulting from ongoing labor impacts. The combined impact of supply chain and labor market disruptions along with continuing inflationary impacts, as well as monetary and regulatory policies could have material adverse impacts on our financial results. Disputes may arise from a variety of causes, including weather impacts, cyber, geopolitical, regulatory or other business risks, sometimes these risks may trigger application of force majeure and other contract provisions concerning allocation of responsibility among customers, the Company, and suppliers, resulting in material added cost and/or litigation. Our customers may attempt to cancel or delay projects, cancel contracts, or may invoke force majeure clauses. Our customers may also seek to delay or may default on their payments to us. As a result, the Company may be exposed to additional costs, liabilities and risks which could materially adversely impact our financial performance and results. These potential operational and service delays could result in contractual or other legal claims from our customers. At this time, it is not possible to quantify all these risks, but the combination of these factors could have a material impact on our financial results.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Common Stock	13. Common Stock NOV has authorized 1 billion shares of $ 0.01 par value common stock. The Company also has authorized 10 million shares of $ 0.01 par value preferred stock, none of which is issued or outstanding. Cash dividends aggregated $ 108 million and $ 79 million for the years ended December 31, 2024 and 2023, respectively. The declaration and payment of future dividends is at the discretion of the Company’s Board of Directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements and other factors deemed relevant by the Company’s Board of Directors. Total compensation cost that has been charged against income for all share-based compensation arrangements was $ 70 million, $ 66 million and $ 67 million for 2024, 2023 and 2022 , respectively. The total income tax benefit recognized before consideration of valuation allowance in the consolidated statements of income for all share-based compensation arrangements was $ 2 million, $ 7 million and $ 3 million for 2024, 2023 and 2022, respectively. The Company’s stock-based compensation plan, known as the NOV Inc. Long-Term Incentive Plan (the “NOV Plan”), was approved by shareholders on May 11, 2018 and amended and restated on May 24, 2022. The NOV Plan provides for the granting of stock options, restricted stock, restricted stock units, performance awards, phantom shares, stock appreciation rights, stock payments and substitute awards. The number of shares authorized under the NOV Plan is 55.7 million. The NOV Plan is also subject to a fungible ratio concept, such that the issuance of stock options and stock appreciation rights reduces the number of available shares under the NOV Plan on a 1-for-1 basis, and the issuance of other awards reduces the number of available shares under the NOV Plan on a 1.5-for-1 basis. At December 31, 2024, approximately 7.8 million shares remained available for future grants under the NOV Plan. The Company also has outstanding awards under its other stock-based compensation plan known as the National Oilwell Varco, Inc. Long-Term Incentive Plan (the “Plan”), however the Company is no longer granting new awards under the Plan. The Plan provides for the granting of stock options, performance-based share awards, restricted stock, phantom shares, stock payments and stock appreciation rights (“SARs”). The number of shares authorized under the Plan is 69.4 million. The Plan is subject to a fungible ratio concept, such that the issuance of stock options and SARs reduces the number of available shares under the Plan on a 1-for-1 basis, and the issuance of other awards reduces the number of available shares under the Plan on a 3-for-1 basis. Stock Options Options granted under our stock-based compensation plans generally vest over a three-year period starting one year from the date of grant and expire ten years from the date of grant. The purchase price of options granted may not be less than the closing market price of NOV common stock on the date of grant. Stock option information summarized below includes amounts for the NOV Plan and the Plan and stock plans of acquired companies. Options outstanding at December 31, 2024 under the stock option plans have exercise prices between $ 15.00 and $ 54.74 per share, and expire at various dates from February 26, 2025 to February 7, 2034. The following summarizes options activity: Year Ended December 31, 2024 2023 2022 Number Average Number Average Number Average of Exercise of Exercise of Exercise Shares Price Shares Price Shares Price Shares under option at beginning 19,975,103 $ 36.25 21,080,388 $ 38.68 21,276,961 $ 42.09 Granted 1,110,478 17.52 1,014,002 21.76 1,492,020 16.73 Forfeited ( 2,743,698 ) 56.16 ( 1,908,768 ) 57.61 ( 1,574,642 ) 65.44 Exercised ( 206,386 ) 16.87 ( 210,519 ) 16.68 ( 113,951 ) 17.77 Shares under option at end of year 18,135,497 $ 32.31 19,975,103 $ 36.25 21,080,388 $ 38.68 Exercisable at end of year 15,911,560 $ 34.23 17,437,459 $ 38.85 17,988,842 $ 42.46 The following summarizes information about stock options outstanding at December 31, 2024: Weighted-Avg Options Outstanding Options Exercisable Remaining Weighted-Avg Weighted-Avg Range of Exercise Price Contractual Life Shares Exercise Price Shares Exercise Price $ 15.00 - $ 30.00 5.60 8,906,198 $ 21.24 6,682,261 $ 22.13 $ 30.01 - $ 50.00 1.97 5,856,046 36.22 5,856,046 36.22 $ 50.01 - $ 54.74 0.15 3,373,253 54.74 3,373,253 54.74 Total 3.41 18,135,497 $ 32.31 15,911,560 $ 34.23 The weighted-average remaining contractual term for outstanding and exercisable stock options at December 31, 2024, was 3.41 years and 2.72 years, respectively. The aggregate intrinsic value of outstanding options as of December 31, 2024, was $ 0 . The weighted-average fair value of options granted during 2024, 2023 and 2022 , was approximately $ 7.90 , $ 9.75 , and $ 6.28 per share, respectively, as determined using the Black-Scholes option-pricing model. The total intrinsic value of options exercised was $ 1 million during 2024 and 2023. The determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise activity. The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term. Year Ended December 31, Valuation Assumptions: 2024 2023 2022 Expected volatility 46.8 % 45.7 % 43.6 % Risk-free interest rate 4.0 % 4.1 % 1.9 % Expected dividend yield 1.1 % 0.9 % 1.2 % Expected term (in years) 6.0 5.8 5.4 The Company used the actual volatility for traded options for the past 10 years prior to option date as the expected volatility assumption required in the Black Scholes model. The risk-free interest rate assumption is based upon observed interest rates appropriate for the term of our employee stock options. The dividend yield assumption is based on the history and expectation of dividend payouts. The estimated expected term is based on actual employee exercise activity for the past ten years. Forfeitures are accounted for as they occur. At December 31, 2024 , total unrecognized compensation cost related to nonvested stock options was $ 9 million. This cost is expected to be recognized over a weighted-average period of three years . The total fair value of stock options vested in 2024, 2023 and 2022 was approximately $ 9 million, $ 9 million and $ 10 million, respectively. Cash received from option exercises for 2024 was $ 3 million. Cash received from option exercises was $ 4 million and $ 2 million in 2023 and 2022 , respectively. The actual tax benefit (expense) realized for the tax deductions from share-based compensation was zero in 2024, 2023, and 2022. Stock Appreciation Rights On December 20, 2017, the Company made a tender offer to exchange SARs issued to certain employees on February 24, 2016 (“2016 SARs”) for cash, amended SARs, and new stock options. The transaction was structured to provide the employees an equal long-term incentive compensation value, while alleviating volatility in the Company’s earnings caused by required mark-to-market accounting on outstanding SARS. Of the outstanding 2016 SARs, 94.75 % were exchanged resulting in a total cash payment of $ 14 million and granting of 3,613,707 new stock options on the exchange date with an exercise price of $ 34.32 and a fair value of $ 8.47 , with vesting matched to the exchanged 2016 SARs. The following summary presents information regarding outstanding SARs: Year Ended December 31, 2024 2023 Number Average Number Average of Exercise of Exercise Shares Price Shares Price Shares under SARs at beginning of year 1,056,805 $ 28.37 1,105,106 $ 28.39 Granted — — — — Forfeited ( 35,248 ) 28.64 ( 48,301 ) 28.83 Exercised — — — — Shares under SARs at end of year 1,021,557 $ 28.36 1,056,805 $ 28.37 Exercisable at end of year 1,021,557 $ 28.36 1,056,805 $ 28.37 The Company recognized no expense related to SARs in 2024, 2023 , or 2022. There was no liability for cash-settled SARs at December 31, 2024. Restricted Shares The Company issues restricted stock awards and restricted stock units to officers and key employees in addition to stock options. On February 6, 2024, under the NOV Plan, the Company granted 1,110,478 stock options with a fair value of $ 7.90 per option and an exercise price of $ 17.52 per share; 2,571,356 restricted stock units with a fair value of $ 17.52 per share; and performance share awards (PSAs) to senior management employees with potential payouts varying from zero to 1,061,644 shares. The stock options vest over a three-year period from the grant date. The restricted stock units vest in three equal annual installments commencing on the first anniversary of the grant date. The 2024 PSAs can be earned based on performance against two established goals over a three-year period : 85 % with a TSR (total shareholder return) goal and 15 % with an internal NVA (“NOV Value Added”, a return on capital metric) goal. TSR performance is determined by comparing the Company’s TSR with the TSR of the members of the Philadelphia Stock Exchange’s Oil Services Sector Index (OSX) for the three-year performance period. The TSR portion of the performance share awards is subject to a vesting cap equal to 100% of Target Level if the Company’s absolute TSR is negative, regardless of relative TSR results. Conversely, if the Company’s absolute TSR is greater than 15% annualized over the three-year performance period the payout amount shall not be less than 50% of Target Level, regardless of relative TSR results. The NVA goal is based on the Company’s improvement in NVA from the beginning of the performance period until the end of the performance period. NVA is calculated as an amount equal to the Company’s (a) gross cash earnings less (b) average gross operating assets times an amount equal to a required return on assets, with certain adjustments. On May 15, 2024 the Company granted 85,950 restricted stock units with a fair value of $ 18.85 per share. The awards were granted to non-employee members of the board of directors and vest on the first anniversary of the grant date. On May 13, 2024, the Company granted 2,667 restricted stock units with a fair value of $ 18.76 per share. On May 30, 2024, the Company granted 13,639 restricted stock units with a fair value of $ 18.33 per share. The awards were granted to employees and vest in three equal annual installments commencing on the first anniversary of grant date. The following summary presents information regarding outstanding restricted shares: Year Ended December 31, 2024 2023 2022 Weighted- Weighted- Weighted- Number Average Number Average Number Average of Grant Date of Grant Date of Grant Date Units Fair Value Units Fair Value Units Fair Value Nonvested at beginning of year 6,615,478 $ 19.86 7,188,183 $ 18.30 6,936,574 $ 21.32 Granted 3,204,434 17.96 2,792,465 22.70 3,509,425 17.67 Vested ( 3,068,811 ) 17.46 ( 3,045,126 ) 21.77 ( 2,863,385 ) 17.11 Forfeited ( 312,828 ) 20.29 ( 320,044 ) 23.89 ( 394,431 ) 26.00 Nonvested at end of year 6,438,273 $ 19.76 6,615,478 $ 19.86 7,188,183 $ 18.30 At December 31, 2024 , there was approximately $ 64 million of unrecognized compensation cost related to nonvested restricted stock awards and restricted stock units, which is expected to be recognized over a weighted-average period of two years .

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	14. Revenue Disaggregation of Revenue 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 tables below, North America includes only the U.S. and Canada: Year Ended December 31, 2024 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 2,105 $ 1,201 $ — $ 3,306 International 1,935 3,629 — 5,564 Intersegment revenue 90 58 ( 148 ) — $ 4,130 $ 4,888 $ ( 148 ) $ 8,870 Land $ 3,088 $ 1,800 $ — $ 4,888 Offshore 952 3,030 — 3,982 Intersegment revenue 90 58 ( 148 ) — $ 4,130 $ 4,888 $ ( 148 ) $ 8,870 Year Ended December 31, 2023 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 2,019 $ 1,237 $ — $ 3,256 International 1,954 3,373 — 5,327 Intersegment revenue 104 59 ( 163 ) — $ 4,077 $ 4,669 $ ( 163 ) $ 8,583 Land $ 2,921 $ 1,864 $ — $ 4,785 Offshore 1,052 2,746 — 3,798 Intersegment revenue 104 59 ( 163 ) — $ 4,077 $ 4,669 $ ( 163 ) $ 8,583 Year Ended December 31, 2022 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 1,845 $ 1,034 $ — $ 2,879 International 1,629 2,729 — 4,358 Eliminations 63 56 ( 119 ) — $ 3,537 $ 3,819 $ ( 119 ) $ 7,237 Land $ 2,620 $ 1,527 $ — $ 4,147 Offshore 854 2,236 — 3,090 Eliminations 63 56 ( 119 ) — $ 3,537 $ 3,819 $ ( 119 ) $ 7,237 In the table below, 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. The revenue streams of Energy Equipment are categorized as long-lived capital equipment sales and aftermarket sales and services. Year Ended December 31, 2024 2023 2022 Energy Products and Services: Services & rental $ 1,996 $ 1,959 $ 1,740 Capital equipment 1,238 1,336 1,148 Product sales 806 678 586 Intersegment revenue 90 104 63 Total 4,130 4,077 3,537 Energy Equipment: Capital equipment 2,625 2,556 2,173 Aftermarket 2,205 2,054 1,590 Intersegment revenue 58 59 56 Total 4,888 4,669 3,819 Eliminations ( 148 ) ( 163 ) ( 119 ) Total consolidated $ 8,870 $ 8,583 $ 7,237 The Company did no t have any customers with revenues greater than 10 % of total revenue for the years ended December 31, 2024, 2023, or 2022. Contract Assets and Liabilities Contract assets include unbilled amounts when revenue recognized exceeds the amount billed to the customer under contracts where revenue is recognized over-time. There were no impairment losses recorded on contract assets for the years ending December 31, 2024, 2023 and 2022. Contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue. The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions): Contract Contract Balance at December 31, 2023 $ 739 $ 532 Billings ( 1,553 ) 1,261 Revenue recognized 1,490 ( 1,247 ) Currency translation adjustments and other ( 99 ) ( 54 ) Balance at December 31, 2024 $ 577 $ 492 Royalty Revenue The Company recognizes royalty revenue due under various licenses for the Company’s intellectual property, including for technology related to drill bits. The Company recognized revenue for drill bit licenses of approximately $ 67 million, $ 78 million, and $ 80 million for years ended December 31, 2024, 2023, and 2022, respectively. The Company is currently pursuing litigation against certain non-paying licensees, which will impact our ability to collect the receivables timely. As such, revenue and the related receivables are recorded at a discount to reflect the delayed timing of future cash collections. As of December 31, 2024 , the receivables of $ 121 million, net of allowances of $ 26 million for credit losses and $ 14 million for the remaining timing related discount, are included in Other Assets on the Consolidated Balance Sheets. These allowances do not impact the amount the Company is entitled to recover on its claims from the licensees in litigation. While we continue to believe it is probable the Company will collect all or substantially all of the consideration to which it is entitled pursuant to the terms of the licensing agreements, the Company will also continue to evaluate the credit quality of the receivables in accordance with the policy described in Note 2. See Note 12 to the Consolidated Financial Statements for discussion of the ongoing litigation. Allowance for Credit Losses The Company estimates its allowance for credit losses using information about past events, current conditions and risk characteristics of each customer, and reasonable and supportable forecasts relevant to assessing risk associated with the collectability of receivables and contract assets. See Note 2 to the Consolidated Financial Statements for discussion of credit risk. As of December 31, 2024 , the allowance for credit losses totaled $ 67 million. The changes in the carrying amount of the allowance for credit losses are as follows (in millions): Balance at December 31, 2023 $ 72 Provision for expected credit losses 40 Recoveries collected ( 13 ) Reclass for long-term receivables ( 17 ) Writeoffs ( 13 ) Other ( 2 ) Balance at December 31, 2024 $ 67

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The domestic and foreign components of income before income taxes were as follows (in millions): Year Ended December 31, 2024 2023 2022 Domestic $ 413 $ 249 $ 113 Foreign 418 363 125 $ 831 $ 612 $ 238 The components of the provision (benefit) for income taxes consisted of (in millions): Year Ended December 31, 2024 2023 2022 Current: Federal $ 9 $ ( 4 ) $ ( 1 ) State 5 2 — Foreign 133 118 86 Total current income tax provision 147 116 85 Deferred: Federal 41 ( 252 ) 3 State 4 ( 47 ) — Foreign 4 ( 190 ) ( 5 ) Total deferred income tax provision (benefit) 49 ( 489 ) ( 2 ) Total income tax provision (benefit) $ 196 $ ( 373 ) $ 83 The difference between the effective tax rate reflected in the provision (benefit) for income taxes and the U.S. federal statutory rate was as follows (in millions): Year Ended December 31, 2024 2023 2022 Federal income tax at U.S. statutory rate $ 175 $ 129 $ 50 Foreign income tax rate differential — 3 1 Change in deferred tax valuation allowance ( 64 ) ( 564 ) 24 Nondeductible expenses 47 18 18 Foreign inclusions and FDII, net of foreign tax credits ( 36 ) 5 ( 4 ) Change in uncertain tax positions 3 12 4 Withholding taxes 47 30 31 Income tax credits ( 6 ) ( 8 ) ( 5 ) Other 30 2 ( 36 ) Total income tax provision (benefit) $ 196 $ ( 373 ) $ 83 The effective tax rate for the year ended December 31, 2024 was 23.6 %, compared to ( 60.9 %) for 2023. For the year ended 2024 , the effective tax rate was negatively impacted by increased withholding taxes, nondeductible expenses, and losses in certain jurisdiction with no tax benefit, partially offset by a lower rate of U.S. tax on global intangible low-taxed income (GILTI) and the deduction of foreign-derived intangible income (FDII) and the release of valuation allowances in certain jurisdictions as a result of improving forecasted taxable income and availability of net operating losses. During 2023, the Company determined it was more likely than not that the Company would be able to realize the benefit of a substantial portion of the deferred tax assets in the United States and the majority of its other international jurisdictions. In reaching this determination, the Company considered the growing trend of profitability over the preceding three years, particularly in the United States, as well as expectations regarding the generation of future taxable income and the sources of future taxable income. As a result of this analysis, the Company recognized a discrete tax benefit related to the release of valuation allowances of $ 299 million in the United States and $ 186 million outside the United States. The effective tax rate was also favorably impacted by adjustments related to utilization of losses and tax credits for current and prior year tax returns, partially offset by current year losses in certain jurisdictions with no tax benefit. As of December 31, 2024, the Company continues to maintain a valuation allowance of $ 266 million primarily related to foreign tax credit carryforwards in the United States and deferred tax assets in certain other jurisdictions due to several factors, including specific jurisdictions in which the Company does not project to generate sufficient future taxable income to realize all or a portion of its deferred tax assets specific to that jurisdiction; the specific nature and timing of future taxable income required to realize certain tax credit carryforwards, most notably U.S. foreign tax credits; and the timing of expiration of certain tax credit carryforwards. Significant components of our deferred tax assets and liabilities were as follows (in millions): December 31, 2024 2023 Deferred tax assets: Allowances and operating liabilities $ 235 $ 264 Net operating loss carryforwards 186 249 Stock Compensation 38 48 Tax credit carryforwards 257 301 Other 113 121 Valuation allowance ( 266 ) ( 346 ) Total deferred tax assets 563 637 Deferred tax liabilities: Tax over book depreciation 31 43 Capital leases 68 67 Intangible assets 44 39 Deferred income 22 24 Accrued tax on unremitted earnings 41 38 Other — 8 Total deferred tax liabilities 206 219 Net deferred tax asset $ 357 $ 418 The valuation allowance decreased by $ 80 million during 2024 . This decrease is comprised of $ 40 million due to the Company’s evaluation of the realizability of deferred tax assets based on future projections of taxable income, $ 24 million related to current year utilization of deferred tax assets, $ 11 million related to the expiration or forfeiture of deferred tax assets, and $ 5 million related to foreign currency exchange rate changes. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): 2024 2023 2022 Unrecognized tax benefit at beginning of year $ 67 $ 62 $ 60 Gross increase for tax position in current year — 18 — Gross increase for tax positions in prior years 4 1 9 Gross decrease for tax positions in prior years — ( 3 ) ( 1 ) Cash Settlements — ( 4 ) ( 1 ) Lapse of statute of limitations ( 3 ) ( 7 ) ( 5 ) Unrecognized tax benefit at end of year $ 68 $ 67 $ 62 The balance of unrecognized tax benefits at December 31, 2024, 2023 and 2022 was $ 68 million, $ 67 million and $ 62 million, respectively. Accruals related to prior year domestic and foreign jurisdiction issues resulted in uncertain tax position increases of $ 4 million in 2024. Substantially all of the unrecognized tax benefits, if ultimately realized, would be recorded as a reduction to income tax expense in the period realized. The Company does not anticipate any material change within the next twelve months due to settlements and conclusions of tax examinations. To the extent penalties and interest would be assessed on any underpayment of income tax, such accrued amounts have been classified as a component of income tax expense in the financial statements consistent with the Company’s policy. For the years ended December 31, 2024, 2023 and 2022, we recorded income tax expense of $ 4 million, $ 5 million and $ 8 million, respectively, for interest and penalty related to unrecognized tax benefits. As of December 31, 2024 and 2023, the Company had accrued $ 24 million and $ 20 million, respectively, of interest and penalty relating to unrecognized tax benefits. The Company is subject to taxation in the United States as well as various states and foreign jurisdictions. The Company has significant operations in the United States, Norway, Saudi Arabia, Brazil, China, the United Kingdom, the Netherlands, Denmark, and Mexico. Tax years that remain subject to examination by major tax jurisdictions vary by legal entity, but are generally open in the U.S. for tax years ending after 2013 and outside the U.S. for tax years ending after 2018. Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2024 were as follows (in millions): Federal State Foreign Total 2025 - 2029 Expiration $ — $ 101 $ 44 $ 145 2030 - 2040 Expiration 13 191 92 296 Unlimited Expiration 54 — 443 497 Total Net Operating Loss (NOL) $ 67 $ 292 $ 579 $ 938 Tax Effected NOL $ 14 $ 20 $ 152 $ 186 The Company has $ 239 million of excess foreign tax credits in the United States as of December 31, 2024 , of which $ 116 million, $ 92 million, $ 10 million, $ 10 million, $ 8 million and $ 3 million will expire in 2027, 2028, 2030, 2031, 2032 and 2033 respectively.

Business Segments and Geographi

Business Segments and Geographic Areas	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business Segments and Geographic Areas	16. Business Segments and Geographic Areas The Company is comprised of 17 business units to provide products and services to the energy industry. Each of the business units is managed by a business unit president, recognizes revenue, incurs expenses, and has discrete financial information readily available. The business units are aggregated into our 2 reportable segments, Energy Products and Services, and Energy Equipment, based on the products and services provided, customer base, and operating environment. The reportable segments are led by Segment Presidents, who are responsible for oversight of the business units’ strategy and performance. The Segment Presidents report directly to the CEO and provide monthly operating and financial updates. The CEO has final authority over resource allocation decisions and performance assessment for the Company. Consequently, the CEO has been identified as the CODM. The CODM regularly receives information directly from the Segment Presidents as well as the business units. However, for decision-making purposes related to the assessment of performance and allocation of resources, the CODM uses financial information at the segment level. The CODM regularly reviews Operating Profit for each segment to assess performance and for resource allocation decisions in the annual budgeting process and in the quarterly performance review processes. Energy Products and Services The Company’s Energy Products and Services segment primarily designs, manufactures, rents, and sells products and equipment used in drilling, intervention, completion, and production activities. Products include drill bits, downhole tools, premium drill pipe, drilling fluids, managed pressure drilling, integral and weld-on connectors for conductor strings and surface casing, completion tools, and artificial lift systems. The segment also designs, manufactures, and delivers high-end composite pipe, tanks, and structures engineered to solve both corrosion and weight challenges in a wide variety of applications, including oil and gas, chemical, industrial, wastewater, fuel handling, marine and offshore, and rare earth mineral extraction. In addition to product and equipment sales, the segment provides services, software, and digital solutions to improve drilling and completion operational performance. Services include tubular inspection and coating, solids control, waste management, and managed pressure drilling. Software and digital solutions offered include drilling and completion optimization and remote monitoring (via downhole and surface instrumentation), wired drill pipe services, software controls and applications, and data management and analytics services at the edge and in the cloud. Energy Products and Services serves oil and gas companies, drilling contractors, oilfield service companies, oilfield equipment rental companies and developers of geothermal energy. Demand for the segment’s products and services primarily depends on the level of oilfield drilling activity by oil and gas companies, drilling contractors, and oilfield service companies. Demand for the segment’s composite solutions serving applications outside of oil and gas are driven by industrial activity, infrastructure spend, and population growth. Energy Equipment The Company’s Energy Equipment segment manufactures and supports the capital equipment and integrated systems needed for oil and gas exploration and production, both onshore and offshore, as well as for other marine-based, industrial and renewable energy markets. The segment designs, manufactures, and integrates technologies for drilling and producing oil and gas wells. This includes equipment and technologies needed for drilling, including land rigs, offshore drilling equipment packages, drilling rig components, and software control systems that mechanize and automate the drilling process and rig functionality; hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration units, injection units, flowline, and manifolds; well intervention, including coiled tubing units, coiled tubing, and wireline units and tools; cementing products for pumping, mixing, transport, and storage; onshore production, including fluid processing, and surface transfer as well as progressive cavity pumps; offshore production, including integrated production systems and subsea production technologies; and aftermarket support of these technologies, providing spare parts, service, and repair. Energy Equipment primarily serves contract drillers, oilfield service companies, and oil and gas companies. Demand for the segment’s products primarily depends on capital spending plans by drilling contractors, service companies, and oil and gas companies, and secondarily on the overall level of oilfield drilling, completions, and workover activity which drives demand for equipment, spare parts, service, and repair for the segment’s large installed base of equipment. The segment also serves marine and offshore markets, where it designs and builds equipment for wind turbine installation and cable lay vessels, and offers heavy lift cranes and jacking systems; industrial markets, where the segment provides pumps and mixers for a wide breadth of industrial end markets; and other energy transition markets, where it is applying its gas processing expertise to provide solutions that aid in wind power development, hydrogen production and carbon sequestration. The following table presents financial data by business segment (in millions): Year Ended December 31, 2024 2023 2022 Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Revenue from external customers $ 4,040 $ 4,830 $ - $ 8,870 $ 3,973 $ 4,610 $ - $ 8,583 $ 3,474 $ 3,763 $ - $ 7,237 Intersegment revenue 90 58 ( 148 ) - 104 59 ( 163 ) - 63 56 ( 119 ) - Total revenue 4,130 4,888 ( 148 ) 8,870 4,077 4,669 ( 163 ) 8,583 3,537 3,819 ( 119 ) 7,237 Less: Cost of revenue (2) 2,934 3,671 ( 62 ) 6,543 2,870 3,670 ( 67 ) 6,473 2,537 3,085 ( 48 ) 5,574 Selling, general, and administrative (2) 500 494 114 1,108 518 521 121 1,160 488 482 128 1,098 Depreciation and amortization 221 115 7 343 183 111 8 302 179 115 7 301 (Gain)/loss on sales of fixed assets - - - - ( 1 ) ( 4 ) 2 ( 3 ) 2 - ( 2 ) - Operating profit $ 475 $ 608 $ ( 207 ) $ 876 $ 507 $ 371 $ ( 227 ) $ 651 $ 331 $ 137 $ ( 204 ) $ 264 Reconciliation to income before income taxes: Interest and financial costs - - ( 91 ) ( 91 ) - - ( 88 ) ( 88 ) - - ( 78 ) ( 78 ) Interest income - - 38 38 - - 28 28 - - 19 19 Equity income (loss) in unconsolidated affiliates 33 3 - 36 111 8 - 119 71 ( 3 ) - 68 Other expenses, net - - ( 28 ) ( 28 ) - - ( 98 ) ( 98 ) - - ( 35 ) ( 35 ) Income before income taxes $ 508 $ 611 $ ( 288 ) $ 831 $ 618 $ 379 $ ( 385 ) $ 612 $ 402 $ 134 $ ( 298 ) $ 238 Other segment information: Capital expenditures $ 255 $ 86 $ 10 $ 351 $ 198 $ 68 $ 17 $ 283 $ 131 $ 71 $ 12 $ 214 Investment in unconsolidated affiliates $ 158 $ 5 $ - $ 163 $ 211 $ - $ - $ 211 $ 87 $ 30 $ - $ 117 Total assets $ 5,054 $ 4,895 $ 1,412 $ 11,361 $ 4,777 $ 5,509 $ 1,008 $ 11,294 $ 4,126 $ 4,745 $ 1,264 $ 10,135 (1) Sales from one segment to another generally are priced at estimated equivalent commercial selling prices; however, segments originating an external sale are credited with the full profit to the Company. Eliminations and corporate costs include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation, as well as corporate costs not allocated to the segments. Intercompany transactions within each reporting segment are eliminated within each reporting segment. Also included in the eliminations and corporate costs column are capital expenditures and total assets related to corporate. Corporate assets consist primarily of cash and fixed assets. (2) Included in cost of revenue and selling, general, and administrative expenses are pre-tax charges (credits) within Other Items of $( 109 ) million, $ 51 million, and $ 114 million, for the years ended December 31, 2024, 2023, and 2022, respectively. Other Items included in cost of revenue for 2024 includes a credit related to a gain on business divestiture (Energy Equipment $ 130 million); credits related to gains on sales of previously reserved inventory (Energy Equipment $ 3 million); charges related to severance and other restructuring costs (Energy Products and Services $ 8 million and Energy Equipment $ 15 million), and a credit related to Russia impairment (Energy Products and Services $ 1 million). Other Items included in selling, general, and administrative expenses for 2023 includes charges related to voluntary early retirement program (VERP) (Energy Products and Services $ 29 million and Energy Equipment $ 19 million); credit related to release of an earnout accrual (Energy Equipment $ 25 million); charges related to severance and other restructure costs (Energy Equipment $ 10 million). Other items included in cost of revenue for 2023 include a non-cash discount charge on royalty receivables (Energy Products and Services $ 25 million); credits related to gains on sales of previously reserved inventory (Energy Products and Services $ 1 million and Energy Equipment $ 19 million); charges related to severance and other restructuring costs (Energy Equipment $ 1 million). Other Items included in selling, general, and administrative expenses for 2022 include Russia impairment and other charges (Energy Products and Services $ 11 million and Energy Equipment $ 40 million). Other items included in cost of revenue for 2022 include Russia impairment and other charges (Energy Products and Services $ 60 million and Energy Equipment $ 12 million); charges related to severance and other restructuring costs (Energy Products and Services $ 2 million and Energy Equipment $ 6 million); and credits related to gains on sales of previously reserved inventory (Energy Products and Services $ 1 million and Energy Equipment $ 34 million). Geographic Areas: The following table presents consolidated revenues by country based on sales destination of the products or service (in millions): Year Ended December 31, 2024 2023 2022 United States $ 2,984 $ 2,933 $ 2,603 Other Countries 5,886 5,650 4,634 Total $ 8,870 $ 8,583 $ 7,237 The following table presents net property, plant and equipment by country based on the location (in millions): December 31, 2024 2023 United States $ 928 $ 906 Saudi Arabia 303 258 Other Countries 691 701 Total $ 1,922 $ 1,865

Impairment and Other Items

Impairment and Other Items	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment and Other Items	17. Impairment and Other Items We recorded a net credit of $ 109 million in other items for the year ended December 31, 2024, of which $ 130 million related to a gain from the divestiture of its Pole Products business, offset by charges related to severance, facility closure and other restructuring costs of $ 21 million. The other items are reported in “Cost of revenue” ($( 110 ) million for the year ended December 31, 2024) and “Selling, general and administrative” ($ 1 million for the year ended December 31, 2024) in our Consolidated Statements of Income. We recorded $ 51 million in other items for the year ended December 31, 2023, of which $ 52 million related to charges related to VERP, $ 25 million related to a non-cash discount charge on royalty receivables, offset by credits related to the release of an earnout accrual of $ 25 million, and credits related to gains on sales of previously reserved inventory of $ 20 million. The other items are reported in “Cost of revenue” ($ 10 million for the year ended December 31, 2023) and “Selling, general and administrative” ($ 41 million for the year ended December 31, 2023) in our Consolidated Statements of Income . We recorded $ 114 million in other items for the year ended December 31, 2022, of which $ 127 million relates to impairments for Russia and Belarus. The other items are reported in "Cost of revenue" ($ 63 million for the year ended December 31, 2022) and "Selling, general and administrative" ($ 51 million for the year ended December 31, 2022) in our Consolidated Statement of Income (Loss). As previously disclosed, in response to sanctions against Russia and Russian interests, the Company ceased new investments and curtailed our activities in Russia. Further, during the third quarter of 2022, the Company sold its business in Belarus and committed to a plan to sell its businesses in Russia. The sale is subject to various government approvals in Russia and other jurisdictions. For the years ended December 31, 2024 and 2023, all our Russian assets and liabilities were classified as held for sale and reported in “Prepaid and other current assets” and “Accrued liabilities”, respectively, in our Consolidated Balance Sheets.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2024
Business Combinations [Abstract]
Acquisitions and Divestitures	18. Acquisitions and Divestitures For the year ended December 31, 2024, our Energy Products and Services segment made three strategic acquisitions to enhance and expand our existing portfolio for a total consideration of $ 291 million, net of cash acquired. One of the three acquisitions was a company owned by White Deer Energy, a middle market private equity fund focused on energy investments. As the transaction involved a related party at the time it was entered into (i.e., directors Ben A. Guill and Eric L. Mattson both had an investment interest in certain White Deer Energy funds), the acquisition was approved by the disinterested members of the Company’s Board of Directors. As of December 31, 2024 , we provisionally recorded $ 171 million of goodwill and amortizable intangible assets, $ 64 million of PP&E, including financing and operating lease right of use assets, $ 92 million of net working capital, $ 18 million of finance and operating lease liabilities, and $ 18 million in other liabilities. The fair values of the assets acquired and liabilities assumed are preliminary and subject to change until we finalize our accounting for these acquisitions. On April 9, 2024, NOV completed the divestiture of its Pole Products business. Pole Products is a leading manufacturer of premium spun-cast concrete and tapered steel poles for diverse applications. We recorded a gain of $ 130 million, which is included as a reduction of Cost of Revenue on the Consolidated Statements of Income. During the second quarter, the Company purchased the remaining noncontrolling interest in Keystone Tower Systems (KTS) for total consideration of $ 30 million.

Share Repurchase Program

Share Repurchase Program	12 Months Ended
	Dec. 31, 2024
Class of Stock Disclosures [Abstract]
Share Repurchase Program	19. Share Repurchase Program On April 25, 2024, the Company established a share repurchase program for up to $ 1 billion of the currently outstanding shares of the Company’s common stock over a period of 36 months. Under the share repurchase program, the Company may repurchase shares from time to time through open market purchases, in privately negotiated transactions or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, in accordance with applicable securities laws and other restrictions, including Rule 10b-18. The timing and total amount of any stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices and other considerations. The Company intends to fund the repurchases using its available U.S. cash balances, which may involve the repatriation of foreign earnings not indefinitely reinvested. However, depending on U.S cash balances, the Company may choose to borrow against its revolving credit facility or issue new debt to finance the repurchases. As shares are repurchased, they are constructively retired and returned to an unissued state. During the three months ended December 31, 2024 , the Company repurchased 7.5 million shares of common stock under the program for an aggregate amount of $ 112 million. During the year ended December, 31, 2024 , the Company repurchased 14.2 million shares of common stock under the program for an aggregate amount of $ 229 million.

Schedule II Nov Inc. Valuation

Schedule II Nov Inc. Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Nov Inc. Valuation and Qualifying Accounts	SCHEDU LE II NOV INC. VALUATION AND QUALIFYING ACCOUNTS Years Ended December 31, 2024, 2023 and 2022 (in millions) Balance Additions Charge offs Balance Reserve for excess and obsolete inventories: 2024 $ 354 $ 31 $ ( 99 ) $ 286 2023 378 28 ( 52 ) 354 2022 444 ( 18 ) ( 48 ) 378 Valuation allowance for deferred tax assets: 2024 $ 346 $ ( 64 ) $ ( 16 ) $ 266 2023 920 ( 564 ) ( 10 ) 346 2022 1,127 24 ( 231 ) 920

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of financial instruments including cash and cash equivalents, receivables, and payables approximated fair value because of the relatively short maturity of these instruments. Cash equivalents include only those investments having a maturity date of three months or less at the time of purchase.
Derivative Financial Instruments	Derivative Financial Instruments The Company records all derivative financial instruments at their fair value in its Consolidated Balance Sheet. Except for certain non-designated hedges discussed in Note 3 below, all derivative financial instruments that the Company holds are designated as cash flow hedges and are highly effective in offsetting movements in the underlying risks. Such arrangements typically have terms between two and 24 months but may have longer terms depending on the underlying cash flows being hedged, typically related to the projects in our backlog.
Inventories	Inventories Inventories are stated at the lower of cost or estimated net realizable value using the first-in, first-out or average cost methods. Inventories consist of raw materials and supplies, work-in-process and finished goods and purchased products. The Company reviews historical usage of inventory on-hand, assumptions about future demand and market conditions, and estimates about potential alternative uses, which are limited, to estimate net realizable value. The Company evaluates inventory using the best information available at the time to inform our assumptions and estimates about future demand and resulting sales volumes, and records reserves as necessary. We recorded charges (credits) to inventory reserves of $ 31 million, $ 28 million, and $ ( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. At December 31, 2024 and 2023, inventory reserves totaled $ 286 million and $ 354 million, or 12.9 % and 14.1 % of gross inventory, respectively.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for major improvements that extend the lives of property and equipment are capitalized while minor replacements, maintenance and repairs are charged to operations as incurred. Disposals are removed at cost less accumulated depreciation with any resulting gain or loss reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of individual items. Depreciation expense was $ 294 million, $ 260 million, and $ 250 million for the years ended December 31, 2024, 2023 and 2022, respectively. The estimated useful lives of the major classes of property, plant and equipment are included in Note 5 to the consolidated financial statements. We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets are impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The carrying value of assets used in operations that are not recoverable is reduced to fair value if lower than carrying value. In determining the fair market value of the assets, we consider market trends and recent transactions involving sales of similar assets, or when not available, discounted cash flow analysis.
Acquisitions and Investments	Acquisitions and Investments Acquisitions of businesses are accounted for using the acquisition method of accounting, and the financial statements include the results of the acquired operations from the respective dates of acquisition. The acquisition price of the acquired entities is preliminarily allocated to the net assets acquired and liabilities assumed based on the estimated fair value at the dates of acquisition, with any excess of acquisition price paid over the fair value of net assets acquired, including intangibles, recognized as goodwill. Subsequent changes to preliminary amounts are made prospectively. The Company paid cash of $ 298 million, $ 22 million, and $ 49 million, net of cash acquired, for acquisitions for the years ended December 31, 2024, 2023 and 2022 , respectively.
Foreign Currency	Foreign Currency The functional currency for most of our foreign operations is the local currency. However, certain foreign operations, including our operations in Norway, use the U.S. dollar as the functional currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income (loss). Revenues and expenses are translated at average exchange rates in effect during the period. Accordingly, financial statements of these foreign subsidiaries are remeasured to U.S. dollars for consolidation purposes using current rates of exchange for monetary assets and liabilities and historical rates of exchange for nonmonetary assets and related elements of expense. Revenue and expense elements are remeasured at rates that approximate the rates in effect on the transaction dates. For all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. Net foreign currency transaction losses were $ 19 million, $ 84 million, and $ 25 million for the years ending December 31, 2024, 2023 and 2022 , respectively, and are included in other expenses, net, in the accompanying consolidated statements of income.
Revenue Recognition, Service and Repair Work, and Costs to Obtain and Fulfill a Contract	Revenue Recognition The majority of the Company’s revenue streams record revenue at a point in time when a performance obligation has been satisfied by transferring control of promised goods or services to a customer. Products are sold or rented and services are provided based upon a fixed or determinable price and do not generally include right of return or other significant post-delivery obligations. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Payment terms and conditions vary by contract type. We have elected to apply the practical expedient that does not require an adjustment for a financing component if, at contract inception, the period between when we transfer the promised goods or service to the customer and when the customer pays for the goods or service is one year or less. Shipping and handling costs are recognized when incurred and are treated as costs to fulfill the original performance obligation instead of as a separate performance obligation. Revenue is generated from contracts that may include multiple performance obligations. The Company considers the degree of customization, integration and interdependency of the related products and services when assessing distinct performance obligations within one contract. Stand-alone selling price (“SSP”) for each distinct performance obligation is generally determined using the price at which the products and services would be sold separately to the customer. Discounts, when provided, are allocated based on the relative SSP of the various products and services. For revenue that is not recognized at a point in time, the Company follows accounting guidance for revenue recognized over time, as follows: Revenue Recognition under Long-term Construction Contracts Revenue is recognized over-time for certain long-term construction contracts in the Energy Equipment segment. These contracts include custom designs for customer-specific applications that are unique and require significant engineering efforts. Revenue is recognized as work progresses on each contract. Right to payment is enforceable for performance completed to date, including a reasonable profit. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost (input) measure of progress for our contracts because it best depicts the transfer of assets to the customer which occurs as we incur costs. Under the cost-to-cost measure of progress, progress towards completion of each contract is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. These costs include labor, materials, subcontractors’ costs, and other direct costs. Any expected losses on a project are recorded in full in the period in which the loss becomes probable. These long-term construction contracts generally include integrating a complex set of tasks and components into a single project or capability, so they are accounted for as one performance obligation. Estimating total revenue and cost at completion of long-term construction contracts is complex, subject to many variables and requires significant judgment. It is common for our long-term contracts to contain late delivery fees, work performance guarantees, and other provisions that can either increase or decrease the transaction price. We estimate variable consideration as the most likely amount we expect to receive. We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur, or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on an assessment of our anticipated performance and historical, current and forecasted information that is reasonably available to us. Net revenue recognized from performance obligations satisfied in previous periods was $ 19 million and $ 39 million for the years ended December 31, 2024 and 2023 , respectively, primarily due to change orders. Service and Repair Work For service and repair contracts, revenue is recognized over time. We generally use the output method to measure progress on service contracts due to the manner in which the customer receives and derives value from the services provided. For repair contracts, we generally use the cost-to-cost measure of progress because it best depicts the transfer of assets to the customer. Costs to Obtain and Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract, such as sales commissions, with a customer when we expect the benefit of those costs to be longer than one year. Costs to fulfill a contract, such as set-up and mobilization costs, are also capitalized when we expect to recover those costs. These contract costs are deferred and amortized over the period of contract performance. Total capitalized costs to obtain and fulfill a contract and the related amortization were immaterial during the periods presented and are included in other current and long-term assets on our consolidated balance sheets. We apply the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less.
Remaining Performance Obligations	Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for all revenue streams for which work has not been performed on contracts with an original expected duration of one year or more. We do not disclose the remaining performance obligations of royalty contracts, service contracts for which there is a right to invoice, and short-term contracts that are expected to have a duration of one year or less. As of December 31, 2024 , the aggregate amount of the transaction price allocated to remaining performance obligations was $ 4,801 million. Although numerous factors can affect timing of revenue recognized on performance obligations, such as customer change orders and supplier accelerations or delays, the Company expects to recognize approximately $ 1,630 million in revenue for the remaining performance obligations in 2025 , $ 1,333 million in 2026 , $ 567 million in 2027 , and $ 1,271 million thereafter .
Service and Product Warranties	Service and Product Warranties The Company provides service and warranty policies on certain of its products. The Company accrues liabilities under service and warranty policies based upon specific claims and a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience change. In addition, the Company incurs discretionary costs to service its products in connection with product performance issues and accrues for them when they are encountered. The Company monitors the actual cost of performing these discretionary services and adjusts the accrual based on the most current information available. The changes in the carrying amount of service and product warranties are as follows (in millions): Balance at December 31, 2022 $ 70 Net provisions for warranties issued during the year 16 Amounts incurred ( 16 ) Currency translation adjustments and other 2 Balance at December 31, 2023 $ 72 Net provisions for warranties issued during the year 22 Amounts incurred ( 27 ) Currency translation adjustments and other 1 Balance at December 31, 2024 $ 68
Income Taxes	Income Taxes The liability method is used to account for income taxes. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to amounts which are more likely than not to be realized.
Concentration of Credit Risk	Concentration of Credit Risk We grant credit to our customers, which operate primarily in the oil and gas industry. Concentrations of credit risk are limited because we have many geographically diverse customers, thus spreading trade credit risk. We control credit risk through credit evaluations, credit limits and monitoring procedures. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral but may require letters of credit for certain international sales. Credit losses are provided for in the financial statements. Allowances for credit losses are determined based on a continuous process of assessing the Company’s portfolio on an individual customer basis considering current market conditions and trends. This process consists of a review of historical collection experience, current aging status of the customer accounts, and financial condition of the Company’s customers. Based on a review of these factors, the Company will establish or adjust allowances for specific customers. As of December 31, 2024, and December 31, 2023, the allowance for credit losses totaled $ 67 million and $ 72 million, respectively.
Stock-Based Compensation	Stock-Based Compensation Compensation expense for the Company’s stock-based compensation plans is measured using the fair value method. The fair value of stock option grants and restricted stock is amortized to expense using the straight-line method over the shorter of the vesting period or the remaining employee service period. The Company provides compensation benefits to employees and non-employee directors under share-based payment arrangements, including various employee stock option plans.
Environmental Liabilities	Environmental Liabilities When environmental assessments or remediations are probable and the costs can be reasonably estimated, remediation liabilities are recorded on an undiscounted basis and are adjusted as further information develops or circumstances change.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect reported and contingent amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Such estimates include but are not limited to, estimated losses on accounts receivable, estimated costs and related margins of projects accounted for over time, estimated realizable value on excess and obsolete inventory, contingencies, estimated liabilities for litigation and environmental exposures and liquidated damages, estimated warranty costs, estimates related to pension accounting, estimates related to the fair value of reporting units for purposes of assessing goodwill and other indefinite-lived intangible assets for impairment and estimates related to valuation allowances on deferred tax assets. Actual results could differ from those estimates.
Contingencies	Contingencies The Company accrues for costs relating to litigation claims and other contingent matters, including liquidated damage liabilities, when such liabilities become probable and reasonably estimable. In circumstances where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than others, the low end of the range is accrued. Such estimates may be based on advice from third parties or on management’s judgment, as appropriate. Revisions to contingent liabilities are reflected in income in the period in which different facts or information become known or circumstances change that affect the Company’s previous judgments with respect to the likelihood or amount of loss. Amounts paid upon the ultimate resolution of contingent liabilities may be materially different from previous estimates and could require adjustments to the estimated reserves to be recognized in the period such new information becomes known.
Net Income Attributable to Company Per Share	Net Income Attributable to Company Per Share The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data): Year Ended December 31, 2024 2023 2022 Numerator: Net income attributable to Company $ 635 $ 993 $ 155 Denominator: Basic—weighted average common shares outstanding 392 393 390 Dilutive effect of employee stock options and other unvested 4 4 4 Diluted outstanding shares 396 397 394 Net income attributable to Company per share: Basic $ 1.62 $ 2.53 $ 0.40 Diluted $ 1.60 $ 2.50 $ 0.39 Cash dividends per share $ 0.275 $ 0.20 $ 0.20 Net income attributable to Company allocated to participating securities was immaterial for the years ended December 31, 2024, 2023 and 2022 and therefore not excluded from net income attributable to Company per share calculation. The Company had stock options outstanding that were anti-dilutive totaling 16 million, 18 million, and 20 million at December 31, 2024, 2023 and 2022 , respectively.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which is intended to improve the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide for required income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company prospectively to all annual periods beginning after December 15, 2024. The Company continues to evaluate the impact of this standard on its disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures” (“ASU 2024-03”), which improves the disclosures required for certain expense captions in the Company’s annual and interim consolidated financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. The Company is currently evaluating the impact of this standard on its disclosures. Recently Adopted Accounting Standards The Company has adopted ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), effective retrospectively for the fiscal year ended December 31, 2024 . ASU 2023-07 improves the disclosures required for operating segments in the Company’s annual and interim consolidated financial statements. As a result of this adoption, the Company’s segment disclosure now includes significant expense categories and the segment performance metric. See Note 16 to the Consolidated Financial Statements for the disclosures associated with the adoption of ASU 2023-07.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Changes in Carrying Amount of Service and Product Warranties	The changes in the carrying amount of service and product warranties are as follows (in millions): Balance at December 31, 2022 $ 70 Net provisions for warranties issued during the year 16 Amounts incurred ( 16 ) Currency translation adjustments and other 2 Balance at December 31, 2023 $ 72 Net provisions for warranties issued during the year 22 Amounts incurred ( 27 ) Currency translation adjustments and other 1 Balance at December 31, 2024 $ 68
Computation of Weighted Average Basic and Diluted Shares Outstanding	The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data): Year Ended December 31, 2024 2023 2022 Numerator: Net income attributable to Company $ 635 $ 993 $ 155 Denominator: Basic—weighted average common shares outstanding 392 393 390 Dilutive effect of employee stock options and other unvested 4 4 4 Diluted outstanding shares 396 397 394 Net income attributable to Company per share: Basic $ 1.62 $ 2.53 $ 0.40 Diluted $ 1.60 $ 2.50 $ 0.39 Cash dividends per share $ 0.275 $ 0.20 $ 0.20

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Foreign Currency Forward Contracts	Forward currency contracts consist of (in millions): Currency Denomination Currency December 31, 2024 December 31, 2023 Colombian Peso COP 60,970 COP 57,487 South Korean Won KRW 45,130 KRW — Norwegian Krone NOK 2,850 NOK 2,179 Japanese Yen JPY 1,039 JPY 1,118 U.S. Dollar USD 1,031 USD 677 Mexican Peso MXN 405 MXN 157 Euro EUR 95 EUR 102 South African Rand ZAR 25 ZAR 25 Singapore Dollar SGD 12 SGD 23 Danish Krone DKK 3 DKK 2 Canadian Dollar CAD 1 CAD 1 Brazilian Real BRL — BRL 291 British Pound Sterling GBP — GBP 5
Derivative Instruments and their Balance Sheet Classifications	The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions): Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives Fair Value Fair Value Balance Sheet December 31, Balance Sheet December 31, Location 2024 2023 Location 2024 2023 Derivatives designated as hedging Foreign exchange contracts Prepaid and other current assets $ 1 $ 8 Accrued liabilities $ 13 $ 2 Foreign exchange contracts Other assets — — Other liabilities 1 1 Total derivatives designated as hedging $ 1 $ 8 $ 14 $ 3 Derivatives not designated as hedging Foreign exchange contracts Prepaid and other current assets $ 4 $ 11 Accrued liabilities $ 11 $ 17 Foreign exchange contracts Other assets — — Other liabilities 1 1 Total derivatives not designated $ 4 $ 11 $ 12 $ 18 Total derivatives $ 5 $ 19 $ 26 $ 21

Inventories, net (Tables)

Inventories, net (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories consist of (in millions): December 31, 2024 2023 Raw materials and supplies $ 394 $ 479 Work in process 181 230 Finished goods and purchased products 1,643 1,796 2,218 2,505 Less: Inventory reserve ( 286 ) ( 354 ) Total $ 1,932 $ 2,151

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of (in millions): Estimated December 31, Useful Lives 2024 2023 Land $ 165 $ 180 Buildings and improvements 5 - 35 Years 1,278 1,285 Operating equipment 2 - 20 Years 2,813 2,803 Rental equipment 2 - 15 Years 1,076 923 5,332 5,191 Less: Accumulated Depreciation ( 3,410 ) ( 3,326 ) $ 1,922 $ 1,865

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Identified, by Segment	Goodwill is identified by segment as follows (in millions): Energy Products and Services Energy Equipment Total Balance at December 31, 2022 $ 729 $ 776 $ 1,505 Goodwill acquired during period — 40 40 Adjustment during the measurement period of assets acquired 17 — 17 Balance at December 31, 2023 $ 746 $ 816 $ 1,562 Goodwill acquired during period 70 — 70 Currency translation adjustments and other ( 2 ) — ( 2 ) Balance at December 31, 2024 (1) $ 814 $ 816 $ 1,630 (1) Accumulated goodwill impairment was $ 7,261 million as of December 31, 2024 .
Identified Intangible Assets, by Segment	The net book values of identified intangible assets are identified by segment as follows (in millions): Energy Products and Services Energy Equipment Total Balance at December 31, 2022 $ 319 $ 171 $ 490 Additions to intangible assets 2 — 2 Amortization ( 22 ) ( 21 ) ( 43 ) Currency translation adjustments and other — 1 1 Balance at December 31, 2023 $ 299 $ 151 $ 450 Additions to intangible assets 1 6 7 Intangible assets acquired 102 — 102 Amortization ( 28 ) ( 21 ) ( 49 ) Currency translation adjustments and other — ( 2 ) ( 2 ) Balance at December 31, 2024 $ 374 $ 134 $ 508
Identified Intangible Assets, by Major Classification	Identified intangible assets by major classification consist of the following (in millions): Gross Accumulated Net Book Value December 31, 2023: Customer relationships $ 494 $ ( 369 ) $ 125 Trademarks 174 ( 133 ) 41 Patents 129 ( 75 ) 54 Indefinite-lived trade names 196 — 196 Other 105 ( 71 ) 34 Total identified intangibles $ 1,098 $ ( 648 ) $ 450 December 31, 2024: Customer relationships $ 531 $ ( 388 ) $ 143 Trademarks 194 ( 139 ) 55 Patents 153 ( 85 ) 68 Indefinite-lived trade names 196 — 196 Other 125 ( 79 ) 46 Total identified intangibles $ 1,199 $ ( 691 ) $ 508
Intangible Assets Acquired, by Major Classification	The following table presents intangible assets that were acquired during the year ended December 31, 2024 by major classification (in millions): Gross Accumulated Net Book Value Weighted Average Amortization Period (in years) December 31, 2024: Customer relationships $ 39 $ ( 3 ) $ 36 9.2 Trademarks 21 ( 2 ) 19 9.6 Patents 27 ( 4 ) 23 5.0 Other 15 — 15 5.0 Total identified intangibles $ 102 $ ( 9 ) $ 92 7.6

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued liabilities consist of (in millions): December 31, 2024 2023 Compensation $ 268 $ 294 Vendor costs 141 133 Taxes (non-income) 119 112 Warranty 68 72 Insurance 43 44 Fair value of derivatives 24 19 Commissions 16 17 Interest 11 8 Other 171 171 Total $ 861 $ 870

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Components of Leases	Components of leases are as follows (in millions): December 31, 2024 2023 Current portion of lease liabilities: Operating $ 72 $ 70 Financing 30 24 Total $ 102 $ 94 December 31, 2024 2023 Long-term portion of lease liability: Operating $ 301 $ 343 Financing 243 215 Total $ 544 $ 558
Components of Lease Expense	Components of lease expense were as follows (in millions): Year Ended December 31, 2024 2023 Lease cost Finance lease cost Amortization of right-of-use assets $ 28 $ 23 Interest on lease liabilities 10 10 Operating lease cost 90 85 Short-term lease cost 69 77 Sub-lease income ( 6 ) ( 8 ) Total $ 191 $ 187
Schedule of Supplemental information Related to Leases	Supplemental information related to the Company’s leases is as follows (in millions): Years Ended 2024 2023 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 10 $ 10 Operating cash flows - operating leases 90 85 Financing cash flows - finance leases 28 23 Right-of-use assets obtained in exchange for new: Operating lease liabilities $ 65 $ 68 Finance lease liabilities 28 27 Weighted average remaining lease term at December 31, 2024: Operating leases 11 years 10 years Finance leases 16 years 16 years Weighted average discount rate at December 31, 2024: Operating leases 5.25 % 5.17 % Finance leases 4.42 % 4.15 %
Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More	Future minimum lease commitments for leases with initial or remaining terms of one year or more at December 31, 2024, are payable as follows (in millions): Operating Finance 2025 $ 91 $ 41 2026 75 36 2027 58 29 2028 47 23 2029 36 20 Thereafter 175 190 Total lease payments 482 339 Less: Interest ( 109 ) ( 66 ) Present value of lease liabilities $ 373 $ 273

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt consists of (in millions): December 31, 2024 2023 $ 1.1 billion in Senior Notes, interest at 3.95 % payable December 1, 2042 $ 1,091 $ 1,091 $ 0.5 billion in Senior Notes, interest at 3.60 % payable December 1, 2029 496 495 Other debt 153 139 Total debt 1,740 1,725 Less current portion 37 13 Long-term debt $ 1,703 $ 1,712
Principal Payments of Debt	Principal payments of debt for years subsequent to 2024 are as follows (in millions): 2025 $ 37 2026 43 2027 12 2028 12 2029 513 Thereafter 1,137 $ 1,754

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Change in Benefit Obligation, Plan Assets and Funded Status of Defined Benefit Pension Plans	The change in benefit obligation, plan assets and the funded status of the defined benefit pension plans in the United States, United Kingdom, Norway, Germany and the Netherlands and defined postretirement plans in the United States, using a measurement date of December 31, 2024 and 2023, is as follows (in millions): Pension benefits Postretirement benefits At year end 2024 2023 2024 2023 Benefit obligation at beginning of year $ 206 $ 382 $ 48 $ 50 Service cost — — 2 2 Interest cost 8 10 3 2 Actuarial loss (gain) ( 13 ) 6 ( 2 ) ( 3 ) Benefits paid ( 11 ) ( 16 ) ( 6 ) ( 6 ) Exchange rate loss (gain) ( 6 ) 8 — — Settlements — ( 184 ) ( 2 ) — Special Termination Benefits — — — 3 Benefit obligation at end of year $ 184 $ 206 $ 43 $ 48 Fair value of plan assets at beginning of year $ 180 $ 381 $ — $ — Actual return 6 2 — — Benefits paid ( 11 ) ( 16 ) ( 6 ) ( 6 ) Company contributions 2 ( 11 ) 8 6 Exchange rate gain (loss) ( 4 ) 8 — — Settlements — ( 184 ) ( 2 ) — Fair value of plan assets at end of year $ 173 $ 180 $ — $ — Funded status $ ( 11 ) $ ( 26 ) $ ( 43 ) $ ( 48 ) Accumulated benefit obligation at end of year $ 183 $ 205
Assumption Rates Used for Benefit Obligations	The assumption rates used for benefit obligations are as follows: Year Ended December 31, 2024 2023 Discount rate: United States plan 4.90 % 5.50 % - 5.60 % International plans 3.40 % - 5.40 % 3.20 % - 4.50 % Salary increase: United States plan N/A N/A International plans 2.50 % - 3.50 % 2.50 % - 3.75 %
Assumption Rates Used for Net Periodic Benefit Costs	The assumption rates used for net periodic benefit costs are as follows: Year Ended December 31, 2024 2023 2022 Discount rate: United States plan 5.50 % - 5.60 % 4.74 % - 5.20 % 1.80 % - 2.20 % International plans 3.20 % - 4.50 % 3.30 % - 4.80 % 1.00 % - 1.90 % Salary increase: United States plan N/A N/A N/A International plans 2.50 % - 3.75 % 2.50 % - 3.75 % 2.50 % - 3.40 % Expected return on assets: United States plan N/A 4.74 % 1.84 % International plans 3.20 % - 5.40 % 3.20 % - 4.90 % 1.00 % - 4.00 %
Plan's Assets Carried at Fair Value	The following table sets forth by level, within the fair value hierarchy, the plan’s assets carried at fair value (in millions): Fair Value Measurements Total Level 1 Level 2 Level 3 December 31, 2023: Equity securities $ — $ — $ — $ — Bonds 84 — 84 — Other (insurance contracts) 96 — 31 65 Total Fair Value Measurements $ 180 $ — $ 115 $ 65 December 31, 2024: Equity securities $ — $ — $ — $ — Bonds 90 — 90 — Other (insurance contracts) 83 — 20 63 Total Fair Value Measurements $ 173 $ — $ 110 $ 63

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss are as follows (in millions): Derivative Employee Currency Financial Benefit Translation Instruments, Plans, Adjustments Net of Tax Net of Tax Total Balance at December 31, 2021 $ ( 1,515 ) $ 7 $ ( 38 ) $ ( 1,546 ) Accumulated other comprehensive income ( 30 ) ( 17 ) ( 4 ) ( 51 ) Amounts reclassified from accumulated other — 6 ( 2 ) 4 Balance at December 31, 2022 $ ( 1,545 ) $ ( 4 ) $ ( 44 ) $ ( 1,593 ) Accumulated other comprehensive income 101 ( 21 ) ( 13 ) 67 Amounts reclassified from accumulated other 12 20 1 33 Balance at December 31, 2023 $ ( 1,432 ) $ ( 5 ) $ ( 56 ) $ ( 1,493 ) Accumulated other comprehensive income ( 138 ) ( 12 ) 10 ( 140 ) Amounts reclassified from accumulated other 1 7 — 8 Balance at December 31, 2024 $ ( 1,569 ) $ ( 10 ) $ ( 46 ) $ ( 1,625 )
Components of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions): Year Ended December 31, 2024 2023 2022 Currency Derivative Employee Currency Derivative Employee Currency Derivative Employee Translation Financial Benefit Translation Financial Benefit Translation Financial Benefit Adjustments Instruments Plans Total Adjustments Instruments Plans Total Adjustments Instruments Plans Total Revenue $ — $ 5 $ — $ 5 $ — $ 11 $ — $ 11 $ — $ 3 $ — $ 3 Cost of revenue 1 4 — 5 12 9 — 21 — 6 — 6 Selling, general, — — — — — — 1 1 — — ( 2 ) ( 2 ) Tax effect — ( 2 ) — ( 2 ) — — — — — ( 3 ) — ( 3 ) $ 1 $ 7 $ — $ 8 $ 12 $ 20 $ 1 $ 33 $ — $ 6 $ ( 2 ) $ 4

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Summary of Stock Options Activity	The following summarizes options activity: Year Ended December 31, 2024 2023 2022 Number Average Number Average Number Average of Exercise of Exercise of Exercise Shares Price Shares Price Shares Price Shares under option at beginning 19,975,103 $ 36.25 21,080,388 $ 38.68 21,276,961 $ 42.09 Granted 1,110,478 17.52 1,014,002 21.76 1,492,020 16.73 Forfeited ( 2,743,698 ) 56.16 ( 1,908,768 ) 57.61 ( 1,574,642 ) 65.44 Exercised ( 206,386 ) 16.87 ( 210,519 ) 16.68 ( 113,951 ) 17.77 Shares under option at end of year 18,135,497 $ 32.31 19,975,103 $ 36.25 21,080,388 $ 38.68 Exercisable at end of year 15,911,560 $ 34.23 17,437,459 $ 38.85 17,988,842 $ 42.46
Summary of Stock Option Outstanding Information	The following summarizes information about stock options outstanding at December 31, 2024: Weighted-Avg Options Outstanding Options Exercisable Remaining Weighted-Avg Weighted-Avg Range of Exercise Price Contractual Life Shares Exercise Price Shares Exercise Price $ 15.00 - $ 30.00 5.60 8,906,198 $ 21.24 6,682,261 $ 22.13 $ 30.01 - $ 50.00 1.97 5,856,046 36.22 5,856,046 36.22 $ 50.01 - $ 54.74 0.15 3,373,253 54.74 3,373,253 54.74 Total 3.41 18,135,497 $ 32.31 15,911,560 $ 34.23
Assumption Used in Determination of Fair Value of Share Based Payment Awards	The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term. Year Ended December 31, Valuation Assumptions: 2024 2023 2022 Expected volatility 46.8 % 45.7 % 43.6 % Risk-free interest rate 4.0 % 4.1 % 1.9 % Expected dividend yield 1.1 % 0.9 % 1.2 % Expected term (in years) 6.0 5.8 5.4
Summary of Information Regarding Outstanding SARs	The following summary presents information regarding outstanding SARs: Year Ended December 31, 2024 2023 Number Average Number Average of Exercise of Exercise Shares Price Shares Price Shares under SARs at beginning of year 1,056,805 $ 28.37 1,105,106 $ 28.39 Granted — — — — Forfeited ( 35,248 ) 28.64 ( 48,301 ) 28.83 Exercised — — — — Shares under SARs at end of year 1,021,557 $ 28.36 1,056,805 $ 28.37 Exercisable at end of year 1,021,557 $ 28.36 1,056,805 $ 28.37
Summary of Information Regarding Outstanding Restricted Shares	The following summary presents information regarding outstanding restricted shares: Year Ended December 31, 2024 2023 2022 Weighted- Weighted- Weighted- Number Average Number Average Number Average of Grant Date of Grant Date of Grant Date Units Fair Value Units Fair Value Units Fair Value Nonvested at beginning of year 6,615,478 $ 19.86 7,188,183 $ 18.30 6,936,574 $ 21.32 Granted 3,204,434 17.96 2,792,465 22.70 3,509,425 17.67 Vested ( 3,068,811 ) 17.46 ( 3,045,126 ) 21.77 ( 2,863,385 ) 17.11 Forfeited ( 312,828 ) 20.29 ( 320,044 ) 23.89 ( 394,431 ) 26.00 Nonvested at end of year 6,438,273 $ 19.76 6,615,478 $ 19.86 7,188,183 $ 18.30

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
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 tables below, North America includes only the U.S. and Canada: Year Ended December 31, 2024 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 2,105 $ 1,201 $ — $ 3,306 International 1,935 3,629 — 5,564 Intersegment revenue 90 58 ( 148 ) — $ 4,130 $ 4,888 $ ( 148 ) $ 8,870 Land $ 3,088 $ 1,800 $ — $ 4,888 Offshore 952 3,030 — 3,982 Intersegment revenue 90 58 ( 148 ) — $ 4,130 $ 4,888 $ ( 148 ) $ 8,870 Year Ended December 31, 2023 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 2,019 $ 1,237 $ — $ 3,256 International 1,954 3,373 — 5,327 Intersegment revenue 104 59 ( 163 ) — $ 4,077 $ 4,669 $ ( 163 ) $ 8,583 Land $ 2,921 $ 1,864 $ — $ 4,785 Offshore 1,052 2,746 — 3,798 Intersegment revenue 104 59 ( 163 ) — $ 4,077 $ 4,669 $ ( 163 ) $ 8,583 Year Ended December 31, 2022 Energy Products Energy and Solutions Equipment Eliminations Total North America $ 1,845 $ 1,034 $ — $ 2,879 International 1,629 2,729 — 4,358 Eliminations 63 56 ( 119 ) — $ 3,537 $ 3,819 $ ( 119 ) $ 7,237 Land $ 2,620 $ 1,527 $ — $ 4,147 Offshore 854 2,236 — 3,090 Eliminations 63 56 ( 119 ) — $ 3,537 $ 3,819 $ ( 119 ) $ 7,237 In the table below, 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. The revenue streams of Energy Equipment are categorized as long-lived capital equipment sales and aftermarket sales and services. Year Ended December 31, 2024 2023 2022 Energy Products and Services: Services & rental $ 1,996 $ 1,959 $ 1,740 Capital equipment 1,238 1,336 1,148 Product sales 806 678 586 Intersegment revenue 90 104 63 Total 4,130 4,077 3,537 Energy Equipment: Capital equipment 2,625 2,556 2,173 Aftermarket 2,205 2,054 1,590 Intersegment revenue 58 59 56 Total 4,888 4,669 3,819 Eliminations ( 148 ) ( 163 ) ( 119 ) Total consolidated $ 8,870 $ 8,583 $ 7,237
Summary of Changes in Carrying Amount of Contract Assets and Contract Liabilities	The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions): Contract Contract Balance at December 31, 2023 $ 739 $ 532 Billings ( 1,553 ) 1,261 Revenue recognized 1,490 ( 1,247 ) Currency translation adjustments and other ( 99 ) ( 54 ) Balance at December 31, 2024 $ 577 $ 492
Summary of Changes Carrying Amount of Allowance for Credit Losses	The changes in the carrying amount of the allowance for credit losses are as follows (in millions): Balance at December 31, 2023 $ 72 Provision for expected credit losses 40 Recoveries collected ( 13 ) Reclass for long-term receivables ( 17 ) Writeoffs ( 13 ) Other ( 2 ) Balance at December 31, 2024 $ 67

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Domestic and Foreign Components of Income Before Income Taxes	The domestic and foreign components of income before income taxes were as follows (in millions): Year Ended December 31, 2024 2023 2022 Domestic $ 413 $ 249 $ 113 Foreign 418 363 125 $ 831 $ 612 $ 238
Components of Provision (Benefit) for Income Taxes	The components of the provision (benefit) for income taxes consisted of (in millions): Year Ended December 31, 2024 2023 2022 Current: Federal $ 9 $ ( 4 ) $ ( 1 ) State 5 2 — Foreign 133 118 86 Total current income tax provision 147 116 85 Deferred: Federal 41 ( 252 ) 3 State 4 ( 47 ) — Foreign 4 ( 190 ) ( 5 ) Total deferred income tax provision (benefit) 49 ( 489 ) ( 2 ) Total income tax provision (benefit) $ 196 $ ( 373 ) $ 83
Difference Between Effective Tax Rate	The difference between the effective tax rate reflected in the provision (benefit) for income taxes and the U.S. federal statutory rate was as follows (in millions): Year Ended December 31, 2024 2023 2022 Federal income tax at U.S. statutory rate $ 175 $ 129 $ 50 Foreign income tax rate differential — 3 1 Change in deferred tax valuation allowance ( 64 ) ( 564 ) 24 Nondeductible expenses 47 18 18 Foreign inclusions and FDII, net of foreign tax credits ( 36 ) 5 ( 4 ) Change in uncertain tax positions 3 12 4 Withholding taxes 47 30 31 Income tax credits ( 6 ) ( 8 ) ( 5 ) Other 30 2 ( 36 ) Total income tax provision (benefit) $ 196 $ ( 373 ) $ 83
Significant Components of Deferred Tax Assets and Liability	Significant components of our deferred tax assets and liabilities were as follows (in millions): December 31, 2024 2023 Deferred tax assets: Allowances and operating liabilities $ 235 $ 264 Net operating loss carryforwards 186 249 Stock Compensation 38 48 Tax credit carryforwards 257 301 Other 113 121 Valuation allowance ( 266 ) ( 346 ) Total deferred tax assets 563 637 Deferred tax liabilities: Tax over book depreciation 31 43 Capital leases 68 67 Intangible assets 44 39 Deferred income 22 24 Accrued tax on unremitted earnings 41 38 Other — 8 Total deferred tax liabilities 206 219 Net deferred tax asset $ 357 $ 418
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): 2024 2023 2022 Unrecognized tax benefit at beginning of year $ 67 $ 62 $ 60 Gross increase for tax position in current year — 18 — Gross increase for tax positions in prior years 4 1 9 Gross decrease for tax positions in prior years — ( 3 ) ( 1 ) Cash Settlements — ( 4 ) ( 1 ) Lapse of statute of limitations ( 3 ) ( 7 ) ( 5 ) Unrecognized tax benefit at end of year $ 68 $ 67 $ 62
Summary of Net Operating Loss Carryforwards	Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2024 were as follows (in millions): Federal State Foreign Total 2025 - 2029 Expiration $ — $ 101 $ 44 $ 145 2030 - 2040 Expiration 13 191 92 296 Unlimited Expiration 54 — 443 497 Total Net Operating Loss (NOL) $ 67 $ 292 $ 579 $ 938 Tax Effected NOL $ 14 $ 20 $ 152 $ 186

Business Segments and Geograp_2

Business Segments and Geographic Areas (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business Segments	The following table presents financial data by business segment (in millions): Year Ended December 31, 2024 2023 2022 Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Energy Products and Services Energy Equipment Eliminations and corporate costs (1) Total Revenue from external customers $ 4,040 $ 4,830 $ - $ 8,870 $ 3,973 $ 4,610 $ - $ 8,583 $ 3,474 $ 3,763 $ - $ 7,237 Intersegment revenue 90 58 ( 148 ) - 104 59 ( 163 ) - 63 56 ( 119 ) - Total revenue 4,130 4,888 ( 148 ) 8,870 4,077 4,669 ( 163 ) 8,583 3,537 3,819 ( 119 ) 7,237 Less: Cost of revenue (2) 2,934 3,671 ( 62 ) 6,543 2,870 3,670 ( 67 ) 6,473 2,537 3,085 ( 48 ) 5,574 Selling, general, and administrative (2) 500 494 114 1,108 518 521 121 1,160 488 482 128 1,098 Depreciation and amortization 221 115 7 343 183 111 8 302 179 115 7 301 (Gain)/loss on sales of fixed assets - - - - ( 1 ) ( 4 ) 2 ( 3 ) 2 - ( 2 ) - Operating profit $ 475 $ 608 $ ( 207 ) $ 876 $ 507 $ 371 $ ( 227 ) $ 651 $ 331 $ 137 $ ( 204 ) $ 264 Reconciliation to income before income taxes: Interest and financial costs - - ( 91 ) ( 91 ) - - ( 88 ) ( 88 ) - - ( 78 ) ( 78 ) Interest income - - 38 38 - - 28 28 - - 19 19 Equity income (loss) in unconsolidated affiliates 33 3 - 36 111 8 - 119 71 ( 3 ) - 68 Other expenses, net - - ( 28 ) ( 28 ) - - ( 98 ) ( 98 ) - - ( 35 ) ( 35 ) Income before income taxes $ 508 $ 611 $ ( 288 ) $ 831 $ 618 $ 379 $ ( 385 ) $ 612 $ 402 $ 134 $ ( 298 ) $ 238 Other segment information: Capital expenditures $ 255 $ 86 $ 10 $ 351 $ 198 $ 68 $ 17 $ 283 $ 131 $ 71 $ 12 $ 214 Investment in unconsolidated affiliates $ 158 $ 5 $ - $ 163 $ 211 $ - $ - $ 211 $ 87 $ 30 $ - $ 117 Total assets $ 5,054 $ 4,895 $ 1,412 $ 11,361 $ 4,777 $ 5,509 $ 1,008 $ 11,294 $ 4,126 $ 4,745 $ 1,264 $ 10,135 (1) Sales from one segment to another generally are priced at estimated equivalent commercial selling prices; however, segments originating an external sale are credited with the full profit to the Company. Eliminations and corporate costs include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation, as well as corporate costs not allocated to the segments. Intercompany transactions within each reporting segment are eliminated within each reporting segment. Also included in the eliminations and corporate costs column are capital expenditures and total assets related to corporate. Corporate assets consist primarily of cash and fixed assets. (2) Included in cost of revenue and selling, general, and administrative expenses are pre-tax charges (credits) within Other Items of $( 109 ) million, $ 51 million, and $ 114 million, for the years ended December 31, 2024, 2023, and 2022, respectively. Other Items included in cost of revenue for 2024 includes a credit related to a gain on business divestiture (Energy Equipment $ 130 million); credits related to gains on sales of previously reserved inventory (Energy Equipment $ 3 million); charges related to severance and other restructuring costs (Energy Products and Services $ 8 million and Energy Equipment $ 15 million), and a credit related to Russia impairment (Energy Products and Services $ 1 million). Other Items included in selling, general, and administrative expenses for 2023 includes charges related to voluntary early retirement program (VERP) (Energy Products and Services $ 29 million and Energy Equipment $ 19 million); credit related to release of an earnout accrual (Energy Equipment $ 25 million); charges related to severance and other restructure costs (Energy Equipment $ 10 million). Other items included in cost of revenue for 2023 include a non-cash discount charge on royalty receivables (Energy Products and Services $ 25 million); credits related to gains on sales of previously reserved inventory (Energy Products and Services $ 1 million and Energy Equipment $ 19 million); charges related to severance and other restructuring costs (Energy Equipment $ 1 million). Other Items included in selling, general, and administrative expenses for 2022 include Russia impairment and other charges (Energy Products and Services $ 11 million and Energy Equipment $ 40 million). Other items included in cost of revenue for 2022 include Russia impairment and other charges (Energy Products and Services $ 60 million and Energy Equipment $ 12 million); charges related to severance and other restructuring costs (Energy Products and Services $ 2 million and Energy Equipment $ 6 million); and credits related to gains on sales of previously reserved inventory (Energy Products and Services $ 1 million and Energy Equipment $ 34 million).
Revenues by Country Based on Sales Destination of Products or Service	The following table presents consolidated revenues by country based on sales destination of the products or service (in millions): Year Ended December 31, 2024 2023 2022 United States $ 2,984 $ 2,933 $ 2,603 Other Countries 5,886 5,650 4,634 Total $ 8,870 $ 8,583 $ 7,237
Net Property, Plant and Equipment by Country Based on the Location	The following table presents net property, plant and equipment by country based on the location (in millions): December 31, 2024 2023 United States $ 928 $ 906 Saudi Arabia 303 258 Other Countries 691 701 Total $ 1,922 $ 1,865

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Maturity period of investments description	three months or less
Charges (credits) to inventory reserves	$ 31	$ 28	$ (18)
Inventory reserves total	$ 286	$ 354
Percentage of inventory reserve	12.90%	14.10%
Depreciation expense related to property, plant and equipment	$ 294	$ 260	250
Cash payment for acquisition, net of cash acquired	298	22	49
Net foreign currency transaction gains (losses)	(19)	(84)	$ (25)
Net revenue recognized from performance obligations satisfied in previous periods	19	39
Allowance for credit losses	67	$ 72
Remaining performance obligations	$ 4,801
Anti-dilutive stock options outstanding	16	18	20
ASU 2023-07 [Member]
Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Dec. 31, 2024
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Minimum [Member]
Significant Accounting Policies [Line Items]
Derivative, term of contract	2 months
Maximum [Member]
Significant Accounting Policies [Line Items]
Derivative, term of contract	24 months

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail 1) $ in Millions	Dec. 31, 2024 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 4,801
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 1,630
Remaining performance obligations, expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 1,333
Remaining performance obligations, expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 567
Remaining performance obligations, expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 1,271
Remaining performance obligations, expected to be recognized, period

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Changes in Carrying Amount of Service and Product Warranties (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
Beginning Balance	$ 72	$ 70
Net provisions for warranties issued during the year	22	16
Amounts incurred	(27)	(16)
Currency translation adjustments and other	1	2
Ending Balance	$ 68	$ 72

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Computation of Weighted Average Basic and Diluted Shares Outstanding (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income attributable to Company	$ 635	$ 993	$ 155
Denominator:
Basic—weighted average common shares outstanding	392	393	390
Dilutive effect of employee stock options and other unvested stock awards	4	4	4
Diluted outstanding shares	396	397	394
Net income attributable to Company per share:
Basic	$ 1.62	$ 2.53	$ 0.40
Diluted	1.6	2.50	0.39
Cash dividends per share	$ 0.275	$ 0.20	$ 0.20

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of currency related derivatives, assets	$ 5
Fair value of currency related derivatives, liabilities	26
Fair value of foreign currency forward contracts, net asset	21
Accumulated other comprehensive loss reclassified into earnings within the next twelve months	12
Gain (loss) recognized in other expenses, net	$ 23	$ (10)	$ (18)

Derivative Financial Instrume_4

Derivative Financial Instruments - Outstanding Foreign Currency Forward Contracts (Detail) € in Millions, ₩ in Millions, ¥ in Millions, £ in Millions, kr in Millions, kr in Millions, R$ in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions

Dec. 31, 2024 USD ($)

Dec. 31, 2024 COP ($)

Dec. 31, 2024 KRW (₩)

Dec. 31, 2024 NOK (kr)

Dec. 31, 2024 JPY (¥)

Dec. 31, 2024 MXN ($)

Dec. 31, 2024 EUR (€)

Dec. 31, 2024 ZAR (R)

Dec. 31, 2024 SGD ($)

Dec. 31, 2024 DKK (kr)

Dec. 31, 2024 CAD ($)

Dec. 31, 2024 BRL (R$)

Dec. 31, 2024 GBP (£)

Dec. 31, 2023 USD ($)

Dec. 31, 2023 COP ($)

Dec. 31, 2023 KRW (₩)

Dec. 31, 2023 NOK (kr)

Dec. 31, 2023 JPY (¥)

Dec. 31, 2023 MXN ($)

Dec. 31, 2023 EUR (€)

Dec. 31, 2023 ZAR (R)

Dec. 31, 2023 SGD ($)

Dec. 31, 2023 DKK (kr)

Dec. 31, 2023 CAD ($)

Dec. 31, 2023 BRL (R$)

Dec. 31, 2023 GBP (£)

Derivative [Line Items]

Foreign currency, Cash flow hedging

$ 21

Forward Contracts [Member]

Derivative [Line Items]

Foreign currency, Cash flow hedging

$ 1,031

$ 60,970

₩ 45,130

kr 2,850

¥ 1,039

$ 405

€ 95

R 25

$ 12

kr 3

$ 1

R$ 0

£ 0

$ 677

$ 57,487

₩ 0

kr 2,179

¥ 1,118

$ 157

€ 102

R 25

$ 23

kr 2

$ 1

R$ 291

£ 5

Derivative Financial Instrume_5

Derivative Financial Instruments - Derivative Instruments and their Balance Sheet Classifications (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives Fair Value [Line Items]
Asset Derivatives	$ 5	$ 19
Liability Derivatives	26	21
Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	1	8
Liability Derivatives	14	3
Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	4	11
Liability Derivatives	12	18
Foreign Exchange Contracts [Member] | Designated as Hedging Instruments [Member] | Accrued liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	13	2
Foreign Exchange Contracts [Member] | Not Designated as Hedging Instruments [Member] | Accrued liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	11	17
Foreign Exchange Contracts [Member] | Prepaid and Other Current Assets [Member] | Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	1	8
Foreign Exchange Contracts [Member] | Prepaid and Other Current Assets [Member] | Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	4	11
Foreign Exchange Contracts [Member] | Other Liabilities [Member] | Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	1	1
Foreign Exchange Contracts [Member] | Other Liabilities [Member] | Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	$ 1	$ 1

Inventories, net - Inventories

Inventories, net - Inventories (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 394	$ 479
Work in process	181	230
Finished goods and purchased products	1,643	1,796
Inventory, Gross	2,218	2,505
Less: Inventory reserve	(286)	(354)
Total	$ 1,932	$ 2,151

Property, Plant and Equipment -

Property, Plant and Equipment - Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 5,332	$ 5,191
Less: Accumulated Depreciation	(3,410)	(3,326)
Property, plant and equipment, net	1,922	1,865
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	165	180
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 1,278	$ 1,285
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeTermOfLeaseMember	us-gaap:UsefulLifeTermOfLeaseMember
Operating Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 2,813	$ 2,803
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeTermOfLeaseMember	us-gaap:UsefulLifeTermOfLeaseMember
Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 1,076	$ 923
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeTermOfLeaseMember	us-gaap:UsefulLifeTermOfLeaseMember
Minimum [Member] | Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Minimum [Member] | Operating Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	2 years
Minimum [Member] | Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	2 years
Maximum [Member] | Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	35 years
Maximum [Member] | Operating Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	20 years
Maximum [Member] | Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	15 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,630,000,000	$ 1,562,000,000	$ 1,505,000,000
Intangibles, net	$ 508,000,000	450,000,000
Estimated useful lives of intangible assets, minimum	2 years
Estimated useful lives of intangible assets, maximum	40 years
Amortization expense, 2025	$ 51,000,000
Amortization expense, 2026	49,000,000
Amortization expense, 2027	45,000,000
Amortization expense, 2028	40,000,000
Amortization expense, 2029	30,000,000
Amortizable intangible assets	102,000,000
Impairment charge on goodwill	0	0
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Goodwill Identified, by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Beginning Balance	$ 1,562	$ 1,505
Goodwill acquired during period	70	40
Adjustment during the measurement period of assets acquired		17
Currency translation adjustments and other	(2)
Ending Balance	1,630	1,562
Energy Products and Services [Member]
Goodwill [Line Items]
Beginning Balance	746	729
Goodwill acquired during period	70
Adjustment during the measurement period of assets acquired		17
Currency translation adjustments and other	(2)
Ending Balance	814	746
Energy Equipments [Member]
Goodwill [Line Items]
Beginning Balance	816	776
Goodwill acquired during period		40
Ending Balance	$ 816	$ 816

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Goodwill Identified, by Segment (Parenthetical) (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment	$ 7,261

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Identified Intangible Assets, by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	$ 450	$ 490
Additions to intangible assets	7	2
Intangible assets acquired	102
Amortization	(49)	(43)
Currency translation adjustments and other	(2)	1
Ending Balance	508	450
Energy Products and Services [Member]
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	299	319
Additions to intangible assets	1	2
Intangible assets acquired	102
Amortization	(28)	(22)
Ending Balance	374	299
Energy Equipments [Member]
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	151	171
Additions to intangible assets	6
Amortization	(21)	(21)
Currency translation adjustments and other	(2)	1
Ending Balance	$ 134	$ 151

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Identified Intangible Assets, by Major Classification (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	$ 1,199	$ 1,098
Accumulated Amortization	(691)	(648)
Net Book Value	508	450	$ 490
Indefinite-lived Trade Names [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	196	196
Net Book Value	196	196
Customer Relationships [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	531	494
Accumulated Amortization	(388)	(369)
Net Book Value	143	125
Trademarks [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	194	174
Accumulated Amortization	(139)	(133)
Net Book Value	55	41
Patents [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	153	129
Accumulated Amortization	(85)	(75)
Net Book Value	68	54
Other [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	125	105
Accumulated Amortization	(79)	(71)
Net Book Value	$ 46	$ 34

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets - Intangible Assets Acquired, by Major Classification (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (691)	$ (648)
Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	102
Accumulated Amortization	(9)
Net Book Value	$ 92
Weighted Average Amortization Period (in years)	7 years 7 months 6 days
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (388)	(369)
Customer Relationships [Member] | Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	39
Accumulated Amortization	(3)
Net Book Value	$ 36
Weighted Average Amortization Period (in years)	9 years 2 months 12 days
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (139)	(133)
Trademarks [Member] | Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	21
Accumulated Amortization	(2)
Net Book Value	$ 19
Weighted Average Amortization Period (in years)	9 years 7 months 6 days
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (85)	(75)
Patents [Member] | Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	27
Accumulated Amortization	(4)
Net Book Value	$ 23
Weighted Average Amortization Period (in years)	5 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (79)	$ (71)
Other [Member] | Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	15
Net Book Value	$ 15
Weighted Average Amortization Period (in years)	5 years

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Compensation	$ 268	$ 294
Vendor costs	141	133
Taxes (non-income)	119	112
Warranty	68	72	$ 70
Insurance	43	44
Commissions	16	17
Fair value of derivatives	24	19
Interest	11	8
Other	171	171
Total	$ 861	$ 870

Leases - Schedule of Components

Leases - Schedule of Components of Leases (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current portion of lease liabilities:
Operating	$ 72	$ 70
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total
Financing	$ 30	$ 24
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total
Total	$ 102	$ 94
Long-term portion of lease liability:
Operating	$ 301	$ 343
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total	Total
Financing	$ 243	$ 215
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total	Total
Total	$ 544	$ 558

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Finance lease cost, amortization of right-of-use assets	$ 28	$ 23
Finance lease cost, interest on lease liabilities	10	10
Operating lease cost	90	85
Short-term lease cost	69	77
Sub-lease income	(6)	(8)
Total	$ 191	$ 187

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities, operating cash flows from finance leases	$ 10	$ 10
Cash paid for amounts included in the measurement of lease liabilities, operating cash flows from operating leases	90	85
Cash paid for amounts included in the measurement of lease liabilities, financing cash flows from finance leases	28	23	$ 24
Right-of-use assets obtained in exchange for new:
Right-of-use assets obtained in exchange for new operating lease liabilities	65	68
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 28	$ 27
Weighted average remaining lease term at December 31, 2024:
Weighted average remaining lease term (years), operating leases	11 years	10 years
Weighted average remaining lease term (years), finance leases	16 years	16 years
Weighted average discount rate at December 31, 2024:
Weighted average discount rate, operating leases	5.25%	5.17%
Weighted average discount rate, finance leases	4.42%	4.15%

Leases - Future Minimum Lease C

Leases - Future Minimum Lease Commitments for Leases with Initial or Remaining Terms of One Year or More (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Operating
Operating lease, 2025	$ 91
Operating lease, 2026	75
Operating lease, 2027	58
Operating lease, 2028	47
Operating lease, 2029	36
Operating lease, Thereafter	175
Total lease payments	482
Less: Interest	(109)
Present value of lease liabilities	$ 373
Operating Lease Liability Statement Of Financial Position [Extensible List]	us-gaap:OtherLiabilities
Finance
Finance leases, 2025	$ 41
Finance leases, 2026	36
Finance leases, 2027	29
Finance leases, 2028	23
Finance leases, 2029	20
Finance leases, Thereafter	190
Total lease payments	339
Less: Interest	(66)
Present value of lease liabilities	$ 273
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherLiabilities

Debt - Debt (Detail)

Debt - Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Senior Notes	$ 1,587	$ 1,586
Other debt	153	139
Total debt	1,740	1,725
Less current portion	37	13
Long-term debt	1,703	1,712
Senior Notes, Interest at 3.95% Payable Semiannually, Principal Due on December 1, 2042 [Member]
Debt Instrument [Line Items]
Senior Notes	1,091	1,091
Senior Notes, Interest at 3.60% Payable Semiannually, Principal Due on December 1, 2029 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 496	$ 495

Debt - Debt (Parenthetical) (De

Debt - Debt (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Senior Notes, Interest at 3.95% Payable Semiannually, Principal Due on December 1, 2042 [Member]
Debt Instrument [Line Items]
Senior note face amount	$ 1,100,000,000	$ 1,100,000,000
Senior notes interest rate	3.95%	3.95%
Senior note due date	Dec. 01, 2042	Dec. 01, 2042
Senior Notes, Interest at 3.60% Payable Semiannually, Principal Due on December 1, 2029 [Member]
Debt Instrument [Line Items]
Senior note face amount	$ 500,000,000	$ 500,000,000
Senior notes interest rate	3.60%	3.60%
Senior note due date	Dec. 01, 2029	Dec. 01, 2029

Debt - Principal Payments of De

Debt - Principal Payments of Debt (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 37
2026	43
2027	12
2028	12
2029	513
Thereafter	1,137
Total Debt	$ 1,754

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)		12 Months Ended
	Sep. 12, 2024	Dec. 31, 2024	Sep. 11, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Funds available under revolving credit facility		$ 1,500,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Canadian Dollar Offered Rate C D O R [Member]
Variable rate	1.25%
Capitalization ratio, Maximum	60%
Capitalization ratio, Actual		23.80%
Other debt		$ 153,000,000		$ 139,000,000
First payment		37,000,000
Outstanding letters of credit under various bilateral letter of credit facilities		500,000,000
Carrying value of Unsecured Senior Notes		1,587,000,000		1,586,000,000
Unsecured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Fair value of Unsecured Senior Notes		1,285,000,000		$ 1,316,000,000
Noncontrolling Interests [Member]
Debt Instrument [Line Items]
Other debt		58,000,000
Other debt due in next twelve months		27,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, extendable borrowing capacity	$ 2,500,000,000
Line of credit facility current borrowing capacity			$ 2,000,000,000
Variable rate basis	Secured Overnight Financing Rate (SOFR), Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), Canadian Overnight Repo Rate Average (CORRA), or Norwegian Interbank Offered Rate (NIBOR),
Outstanding letters of credit issued		0
Foreign Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility current borrowing capacity		$ 150,000,000
Variable rate		1.40%
Additional line of credit facility borrowing capacity		$ 120,000,000
Debt to equity ratio maximum		75%
Borrowings		$ 94,000,000
First payment		$ 11,000,000
Line of credit repayments beginning date		2022-12
Line of credit repayments ending date		2032-06
Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, term	5 years
Line of credit facility current borrowing capacity	$ 1,500,000,000

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Employee	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Compensation Related Costs Disclosure [Line Items]
Expenses for defined-contribution retirement plans	$ 85	$ 84	$ 67
Pension plans, expected future benefit payments in year five	$ 12
Expected years of pension plans	5 years
Expected future pension plans amounts to pay, total	$ 125
United States [Member]
Compensation Related Costs Disclosure [Line Items]
Number of U.S retirees and spouses participate in defined benefit health care plans | Employee	9,300
Number of additional U.S retirees and spouses participate in defined benefit health care plans | Employee	750
Pension Plan [Member]
Compensation Related Costs Disclosure [Line Items]
Net periodic benefit income (cost)	$ (3)	$ (2)	$ 1

Employee Benefit Plans - Change

Employee Benefit Plans - Change in Benefit Obligation, Plan Assets and Funded Status of Defined Benefit Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Fair value of plan assets at beginning of year	$ 180
Fair value of plan assets at end of year	173	$ 180
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	206	382
Interest cost	8	10
Actuarial loss (gain)	(13)	6
Benefits paid	(11)	(16)
Exchange rate loss (gain)	(6)	8
Settlements		(184)
Benefit obligation at end of year	184	206
Fair value of plan assets at beginning of year	180	381
Actual return	6	2
Benefits paid	(11)	(16)
Company contributions	2	(11)
Exchange rate gain (loss)	(4)	8
Settlements		(184)
Fair value of plan assets at end of year	173	180
Funded status	(11)	(26)
Accumulated benefit obligation at end of year	183	205
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	48	50
Service cost	2	2
Interest cost	3	2
Actuarial loss (gain)	(2)	(3)
Benefits paid	(6)	(6)
Settlements	(2)
Special Termination Benefits		3
Benefit obligation at end of year	43	48
Benefits paid	(6)	(6)
Company contributions	8	6
Settlements	(2)
Funded status	$ (43)	$ (48)

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumption Rates Used for Benefit Obligations (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.90%
Discount rate minimum		5.50%
Discount rate maximum		5.60%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	3.40%	3.20%
Discount rate maximum	5.40%	4.50%
Salary increase minimum	2.50%	2.50%
Salary increase maximum	3.50%	3.75%

Employee Benefit Plans - Assu_2

Employee Benefit Plans - Assumption Rates Used for Net Periodic Benefit Costs (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	5.50%	4.74%	1.80%
Discount rate maximum	5.60%	5.20%	2.20%
Expected return on assets		4.74%	1.84%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	3.20%	3.30%	1%
Discount rate maximum	4.50%	4.80%	1.90%
Salary increase minimum	2.50%	2.50%	1%
Salary increase maximum	3.75%	3.75%	4%
Expected return on assets, minimum	3.20%	3.20%	2.50%
Expected return on assets, maximum	5.40%	4.90%	3.40%

Employee Benefit Plans - Plan's

Employee Benefit Plans - Plan's Assets Carried at Fair Value (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	$ 173	$ 180
Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	90	84
Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	83	96
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	110	115
Fair Value, Inputs, Level 2 [Member] | Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	90	84
Fair Value, Inputs, Level 2 [Member] | Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	20	31
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	63	65
Fair Value, Inputs, Level 3 [Member] | Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	$ 63	$ 65

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 6,242	$ 5,134	$ 5,064
Ending Balance	6,428	6,242	5,134
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,432)	(1,545)	(1,515)
Accumulated other comprehensive income (loss) before reclassifications	(138)	101	(30)
Amounts reclassified from accumulated other comprehensive income (loss)	1	12
Ending Balance	(1,569)	(1,432)	(1,545)
Derivative Financial Instruments, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(5)	(4)	7
Accumulated other comprehensive income (loss) before reclassifications	(12)	(21)	(17)
Amounts reclassified from accumulated other comprehensive income (loss)	7	20	6
Ending Balance	(10)	(5)	(4)
Employee Benefit Plans, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(56)	(44)	(38)
Accumulated other comprehensive income (loss) before reclassifications	10	(13)	(4)
Amounts reclassified from accumulated other comprehensive income (loss)		1	(2)
Ending Balance	(46)	(56)	(44)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,493)	(1,593)	(1,546)
Accumulated other comprehensive income (loss) before reclassifications	(140)	67	(51)
Amounts reclassified from accumulated other comprehensive income (loss)	8	33	4
Ending Balance	$ (1,625)	$ (1,493)	$ (1,593)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Components of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	$ 8,870	$ 8,583	$ 7,237
Selling, general, and administrative	(1,134)	(1,182)	(1,070)
Tax effect	(196)	373	(83)
Net income attributable to Company	635	993	155
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	5	11	3
Cost of revenue	5	21	6
Selling, general, and administrative		1	(2)
Tax effect	(2)		(3)
Net income attributable to Company	8	33	4
Derivative Financial Instruments, Net of Tax [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	5	11	3
Cost of revenue	4	9	6
Tax effect	(2)		(3)
Net income attributable to Company	7	20	6
Employee Benefit Plans, Net of Tax [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Selling, general, and administrative		1	(2)
Net income attributable to Company		1	$ (2)
Currency Translation Adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of revenue	1	12
Net income attributable to Company	$ 1	$ 12

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Other comprehensive (loss) income before reclassifications	$ (137)	$ 113	$ (30)
Change in derivative financial instruments, net of tax	(5)	(1)	(11)
Changes in derivative financial instruments, tax	$ 2	$ 3	$ (3)

Common Stock - Additional Infor

Common Stock - Additional Information (Detail)						12 Months Ended
	May 30, 2024 $ / shares shares	May 15, 2024 $ / shares shares	May 13, 2024 $ / shares shares	Feb. 06, 2024 $ / shares shares	Dec. 20, 2017 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) Installment $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock, authorized | shares						1,000,000,000	1,000,000,000
Number of preferred stock, authorized | shares						10,000,000
Common stock, par value | $ / shares						$ 0.01	$ 0.01
Preferred stock, par value | $ / shares						$ 0.01
Preferred stock, shares issued | shares						0
Preferred stock, shares outstanding | shares						0
Aggregated cash dividends paid | $						$ 108,000,000	$ 79,000,000	$ 78,000,000
Stock-based compensation expense | $						70,000,000	66,000,000	67,000,000
Income tax provision recognized | $						$ 2,000,000	$ 7,000,000	$ 3,000,000
Earlier authorized shares under stock based compensation | shares | shares						69,400,000
Duration of performance-based restricted stock awards, vested						Options granted under our stock-based compensation plans generally vest over a three-year period starting one year from the date of grant and expire ten years from the date of grant.
Weighted average grant-date fair value of options | $ / shares						$ 7.9	$ 9.75	$ 6.28
Total intrinsic value of options exercised | $						$ 1,000,000	$ 1,000,000
Stock option, Minimum Range | $ / shares						$ 15
Stock option, Maximum Range | $ / shares						$ 54.74
Weighted-average remaining contractual term for outstanding stock options						3 years 4 months 28 days
Weighted-average remaining contractual term for exercisable stock options						2 years 8 months 19 days
Aggregate intrinsic value of outstanding options | $						$ 0
Total unrecognized compensation cost related to nonvested stock options | $						$ 9,000,000
Compensation cost not yet recognized, period for recognition						3 years
Total fair value of stock options vested | $						$ 9,000,000	9,000,000	$ 10,000,000
Cash received from option exercises | $						3,000,000	4,000,000	2,000,000
Actual tax benefit (expense) from share based compensation | $						0	$ 0	$ 0
Cash payment of stock appreciation rights | $						$ 229,000,000
Stock options granted | shares						1,110,478	1,014,002	1,492,020
Weighted average exercise price per share of options | $ / shares						$ 17.52	$ 21.76	$ 16.73
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights exchange percentage					94.75%
Cash payment of stock appreciation rights | $					$ 14,000,000
Cash paid to settle SARs | $						$ 0
Compensation cost recognized | $						$ 0	$ 0	$ 0
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of options | $ / shares					$ 8.47
Stock options granted | shares					3,613,707
Weighted average exercise price per share of options | $ / shares					$ 34.32
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of performance-based restricted stock awards, vested						The restricted stock units vest in three equal annual installments commencing on the first anniversary of the grant date.
Shares granted | shares				2,571,356		3,204,434	2,792,465	3,509,425
Restricted stock granted fair value | $ / shares				$ 17.52		$ 17.96	$ 22.70	$ 17.67
Number of equal annual vesting installments | Installment						3
Performance-base restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of performance goal						The 2024 PSAs can be earned based on performance against two established goals over a three-year period
Performance-base restricted stock [Member] | Senior Management Employees [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares				0
Performance-base restricted stock [Member] | Senior Management Employees [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares				1,061,644
TSR Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of performance goal						85% with a TSR (total shareholder return) goal and 15% with an internal NVA (“NOV Value Added”, a return on capital metric) goal. TSR performance is determined by comparing the Company’s TSR with the TSR of the members of the Philadelphia Stock Exchange’s Oil Services Sector Index (OSX) for the three-year performance period. The TSR portion of the performance share awards is subject to a vesting cap equal to 100% of Target Level if the Company’s absolute TSR is negative, regardless of relative TSR results. Conversely, if the Company’s absolute TSR is greater than 15% annualized over the three-year performance period the payout amount shall not be less than 50% of Target Level, regardless of relative TSR results. The NVA goal is based on the Company’s improvement in NVA from the beginning of the performance period until the end of the performance period. NVA is calculated as an amount equal to the Company’s (a) gross cash earnings less (b) average gross operating assets times an amount equal to a required return on assets, with certain adjustments.
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to nonvested stock options | $						$ 64,000,000
Compensation cost not yet recognized, period for recognition						2 years
TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance shares awarded						85%
NVA [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance shares awarded						15%
2018 Plan [Member] | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of options | $ / shares				$ 7.9
Stock options granted | shares				1,110,478
Weighted average exercise price per share of options | $ / shares				$ 17.52
2018 Plan [Member] | Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted | shares	13,639	85,950	2,667
Restricted stock granted fair value | $ / shares	$ 18.33	$ 18.85	$ 18.76
NOV Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares under stock based compensation | shares						55,700,000
Remaining shares available for future grants under the Plan | shares						7,800,000

Common Stock - Summary of Stock

Common Stock - Summary of Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of shares under stock option, Beginning of the year	19,975,103	21,080,388	21,276,961
Number of Shares Granted	1,110,478	1,014,002	1,492,020
Number of Shares Forfeited	(2,743,698)	(1,908,768)	(1,574,642)
Number of Shares Exercised	(206,386)	(210,519)	(113,951)
Number of shares under stock option, End of the year	18,135,497	19,975,103	21,080,388
Number of stock options vested and expected to be vest, exercisable	15,911,560	17,437,459	17,988,842
Weighted Average Exercise Price, Beginning of year	$ 36.25	$ 38.68	$ 42.09
Weighted Average Exercise Price, Stock Options Granted	17.52	21.76	16.73
Weighted Average Exercise Price, Stock Options Forfeited	56.16	57.61	65.44
Weighted Average Exercise Price, Stock Options Exercised	16.87	16.68	17.77
Weighted Average Exercise Price, End of the year	32.31	36.25	38.68
Weighted Average Exercise Price, Stock Options Exercisable	$ 34.23	$ 38.85	$ 42.46

Common Stock - Summary of Sto_2

Common Stock - Summary of Stock Option Outstanding Information (Detail)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	3 years 4 months 28 days
Stock Options Outstanding, Shares | shares	18,135,497
Stock Options Outstanding, Weighted - Average Exercise Price	$ 32.31
Stock Options Exercisable, Shares | shares	15,911,560
Stock Options Exercisable, Weighted - Average Exercise Price	$ 34.23
Stock option, Minimum Range	15
Stock option, Maximum Range	$ 54.74
$15.00 - $30.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	5 years 7 months 6 days
Stock Options Outstanding, Shares | shares	8,906,198
Stock Options Outstanding, Weighted - Average Exercise Price	$ 21.24
Stock Options Exercisable, Shares | shares	6,682,261
Stock Options Exercisable, Weighted - Average Exercise Price	$ 22.13
Stock option, Minimum Range	15
Stock option, Maximum Range	$ 30
$30.01 - $50.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	1 year 11 months 19 days
Stock Options Outstanding, Shares | shares	5,856,046
Stock Options Outstanding, Weighted - Average Exercise Price	$ 36.22
Stock Options Exercisable, Shares | shares	5,856,046
Stock Options Exercisable, Weighted - Average Exercise Price	$ 36.22
Stock option, Minimum Range	30.01
Stock option, Maximum Range	$ 50
$50.01 - $54.74
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	1 month 24 days
Stock Options Outstanding, Shares | shares	3,373,253
Stock Options Outstanding, Weighted - Average Exercise Price	$ 54.74
Stock Options Exercisable, Shares | shares	3,373,253
Stock Options Exercisable, Weighted - Average Exercise Price	$ 54.74
Stock option, Minimum Range	50.01
Stock option, Maximum Range	$ 54.74

Common Stock - Assumption Used

Common Stock - Assumption Used in Determination of Fair Value of Share Based Payment Awards (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Expected volatility	46.80%	45.70%	43.60%
Risk-free interest rate	4%	4.10%	1.90%
Expected dividend yield	1.10%	0.90%	1.20%
Expected term (in years)	6 years	5 years 9 months 18 days	5 years 4 months 24 days

Common Stock - Summary of Infor

Common Stock - Summary of Information Regarding Outstanding SARs (Detail) - Stock Appreciation Rights (SARs) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Outstanding, Beginning balance	1,056,805	1,105,106
Forfeited	(35,248)	(48,301)
Restricted Shares Outstanding, Ending balance	1,021,557	1,056,805
Exercisable at end of year	1,021,557	1,056,805
Weighted-Average Grant Date Fair Value of Restricted Stock, Beginning Balance	$ 28.37	$ 28.39
Forfeited	28.64	28.83
Weighted-Average Grant Date Fair Value of Restricted Stock, Ending Balance	28.36	28.37
Average Exercise Price, Exercisable at end of year	$ 28.36	$ 28.37

Common Stock - Summary of Inf_2

Common Stock - Summary of Information Regarding Outstanding Restricted Shares (Detail) - Restricted Stock and Restricted Stock Units [Member] - $ / shares		12 Months Ended
	Feb. 06, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Outstanding, Beginning balance		6,615,478	7,188,183	6,936,574
Restricted Stock Granted, Shares	2,571,356	3,204,434	2,792,465	3,509,425
Restricted Stock Vested, Shares		(3,068,811)	(3,045,126)	(2,863,385)
Restricted Stock Forfeited, Shares		(312,828)	(320,044)	(394,431)
Restricted Shares Outstanding, Ending balance		6,438,273	6,615,478	7,188,183
Weighted-Average Grant Date Fair Value of Restricted Stock, Beginning Balance		$ 19.86	$ 18.30	$ 21.32
Restricted Stock Granted, Weighted-Average Grant Date Fair Value	$ 17.52	17.96	22.70	17.67
Restricted Stock Vested, Weighted-Average Grant Date Fair Value		17.46	21.77	17.11
Restricted Stock Forfeited, Weighted-Average Grant Date Fair Value		20.29	23.89	26
Weighted-Average Grant Date Fair Value of Restricted Stock, Ending Balance		$ 19.76	$ 19.86	$ 18.30

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregate Revenue by Destinations and Revenue Streams (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ 8,870	$ 8,583	$ 7,237
Continental [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	3,306	3,256	2,879
Continental [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	5,564	5,327	4,358
Continental [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			0
Continental [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	0	0
Land and Offshore [Member] | Land Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	4,888	4,785	4,147
Land and Offshore [Member] | Offshore Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	3,982	3,798	3,090
Land and Offshore [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			0
Land and Offshore [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	0	0
Operating Segments [Member] | Energy Products and Services [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	4,130	4,077	3,537
Operating Segments [Member] | Energy Products and Services [Member] | Continental [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	2,105	2,019	1,845
Operating Segments [Member] | Energy Products and Services [Member] | Continental [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,935	1,954	1,629
Operating Segments [Member] | Energy Products and Services [Member] | Continental [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			63
Operating Segments [Member] | Energy Products and Services [Member] | Continental [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	90	104
Operating Segments [Member] | Energy Products and Services [Member] | Land and Offshore [Member] | Land Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	3,088	2,921	2,620
Operating Segments [Member] | Energy Products and Services [Member] | Land and Offshore [Member] | Offshore Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	952	1,052	854
Operating Segments [Member] | Energy Products and Services [Member] | Land and Offshore [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			63
Operating Segments [Member] | Energy Products and Services [Member] | Land and Offshore [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	90	104
Operating Segments [Member] | Energy Equipments [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	4,888	4,669	3,819
Operating Segments [Member] | Energy Equipments [Member] | Continental [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,201	1,237	1,034
Operating Segments [Member] | Energy Equipments [Member] | Continental [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	3,629	3,373	2,729
Operating Segments [Member] | Energy Equipments [Member] | Continental [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			56
Operating Segments [Member] | Energy Equipments [Member] | Continental [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	58	59
Operating Segments [Member] | Energy Equipments [Member] | Land and Offshore [Member] | Land Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,800	1,864	1,527
Operating Segments [Member] | Energy Equipments [Member] | Land and Offshore [Member] | Offshore Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	3,030	2,746	2,236
Operating Segments [Member] | Energy Equipments [Member] | Land and Offshore [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			56
Operating Segments [Member] | Energy Equipments [Member] | Land and Offshore [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	58	59
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(148)	(163)	(119)
Intersegment Eliminations [Member] | Continental [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			(119)
Intersegment Eliminations [Member] | Continental [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(148)	(163)
Intersegment Eliminations [Member] | Land and Offshore [Member] | Intersubsegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue			$ (119)
Intersegment Eliminations [Member] | Land and Offshore [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ (148)	$ (163)

Revenue - Summary of Disaggre_2

Revenue - Summary of Disaggregate Revenue by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ 8,870	$ 8,583	$ 7,237
Eliminations and Corporate Costs [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(148)	(163)	(119)
Operating Segments [Member] | Energy Products and Services [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	4,130	4,077	3,537
Operating Segments [Member] | Energy Products and Services [Member] | Services and Rental [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,996	1,959	1,740
Operating Segments [Member] | Energy Products and Services [Member] | Capital Equipment [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,238	1,336	1,148
Operating Segments [Member] | Energy Products and Services [Member] | Product Sales [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	806	678	586
Operating Segments [Member] | Energy Products and Services [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	90	104	63
Operating Segments [Member] | Energy Equipment [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	4,888	4,669	3,819
Operating Segments [Member] | Energy Equipment [Member] | Capital Equipment [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	2,625	2,556	2,173
Operating Segments [Member] | Energy Equipment [Member] | Intersegment Revenue [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	58	59	56
Operating Segments [Member] | Energy Equipment [Member] | Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ 2,205	$ 2,054	$ 1,590

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 USD ($) Customer	Dec. 31, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Impairment losses on contract assets	$ 0	$ 0	$ 0
Revenue	8,870,000,000	8,583,000,000	7,237,000,000
Allowance for credit losses	67,000,000	72,000,000
Royalty Revenue
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue	67,000,000	$ 78,000,000	$ 80,000,000
Receivables allowances for credit losses	121,000,000
Receivable remaining allowance for Credit Loss	14,000,000
Net of related allowances for credit losses	$ 26,000,000
Customers [Member] | Customer Concentration Risk [Member] | Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Concentration risk, number of customers | Customer	0	0	0
Concentration risk, percentage	10%	10%	10%

Revenue - Summary of Changes in

Revenue - Summary of Changes in Carrying Amount of Contract Assets and Contract Liabilities (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at December 31, 2023	$ 739
Billings	(1,553)
Revenue recognized	1,490
Currency translation adjustments and other	(99)
Balance at December 31, 2024	577
Balance at December 31, 2023	532
Billings	1,261
Revenue recognized	(1,247)
Currency translation adjustments and other	(54)
Balance at December 31, 2024	$ 492

Revenue - Summary of Changes Ca

Revenue - Summary of Changes Carrying Amount of Allowance for Credit Losses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at December 31, 2023	$ 72
Provision for expected credit losses	40
Recoveries collected	(13)
Reclass for long-term receivables	(17)
Writeoffs	(13)
Other	(2)
Balance at December 31, 2024	$ 67

Income Taxes - Domestic and For

Income Taxes - Domestic and Foreign Components of Income Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income before income taxes, Domestic	$ 413	$ 249	$ 113
Income before income taxes, Foreign	418	363	125
Income before income taxes	$ 831	$ 612	$ 238

Income Taxes - Components of Pr

Income Taxes - Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 9	$ (4)	$ (1)
State	5	2
Foreign	133	118	86
Total current income tax provision	147	116	85
Deferred:
Federal	41	(252)	3
State	4	(47)
Foreign	4	(190)	(5)
Total deferred income tax provision (benefit)	49	(489)	(2)
Total income tax provision (benefit)	$ 196	$ (373)	$ 83

Income Taxes - Difference Betwe

Income Taxes - Difference Between Effective Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal income tax at U.S. statutory rate	$ 175	$ 129	$ 50
Foreign income tax rate differential		3	1
Change in deferred tax valuation allowance	(64)	(564)	24
Nondeductible expenses	47	18	18
Foreign inclusions and FDII, net of foreign tax credits	(36)	5	(4)
Change in uncertain tax positions	3	12	4
Withholding taxes	47	30	31
Income tax credits	(6)	(8)	(5)
Other	30	2	(36)
Total income tax provision (benefit)	$ 196	$ (373)	$ 83

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Carryforward [Line Items]
Effective income tax rate	23.60%	(60.90%)
Increase (decrease) in valuation allowance	$ (80)
Unrecognized tax benefit	68	$ 67	$ 62	$ 60
Income tax interest and penalties related to unrecognized tax benefit	4	5	$ 8
Increase in unrecognized tax position from completion of audits of domestic and foreign jurisdictions from prior years	4
Accrued income tax interest and penalties related to unrecognized tax benefit	24	20
Foreign tax credit	239
Net operating loss carry forward	938
Deferred tax assets, valuation allowances in numerous jurisdictions	266	$ 346
Carry Forward Expiration Year 2027 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	116
Carry Forward Expiration Year 2028 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	92
Carry Forward Expiration Year 2030 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	10
Carry Forward Expiration Year 2031 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	10
Carry Forward Expiration Year 2032 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	8
Carry Forward Expiration Year 2033 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	3
Release Of Valuation Allowances In United States [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	299
Release of Valuation Allowances in Outsude United States [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	186
Future Projections Taxable Income [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	(40)
Current Year Utilization Of Deferred Tax Assets [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	(24)
Expiration or Forfeiture of Deferred Tax Assets [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	(11)
FX [Member]
Tax Credit Carryforward [Line Items]
Increase (decrease) in valuation allowance	$ (5)

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets and Liability (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Allowances and operating liabilities	$ 235	$ 264
Net operating loss carryforwards	186	249
Stock Compensation	38	48
Tax credit carryforwards	257	301
Other	113	121
Valuation allowance	(266)	(346)
Total deferred tax assets	563	637
Deferred tax liabilities:
Tax over book depreciation	31	43
Capital leases	68	67
Intangible assets	44	39
Deferred income	22	24
Accrued tax on unremitted earnings	41	38
Other		8
Total deferred tax liabilities	206	219
Net deferred tax asset	$ 357	$ 418

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Unrecognized tax benefit at beginning of year	$ 67	$ 62	$ 60
Gross increase for tax position in current year		18
Gross increase for tax positions in prior years	4	1	9
Gross decrease for tax positions in prior years		(3)	(1)
Cash Settlements		(4)	(1)
Lapse of statute of limitations	(3)	(7)	(5)
Unrecognized tax benefit at end of year	$ 68	$ 67	$ 62

Income Taxes - Summary of Net O

Income Taxes - Summary of Net Operating Loss Carryforwards (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	$ 938
Tax Effected NOL	186
Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	67
Tax Effected NOL	14
State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	292
Tax Effected NOL	20
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	579
Tax Effected NOL	152
2025 - 2029 Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	145
2025 - 2029 Expiration [Member] | State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	101
2025 - 2029 Expiration [Member] | Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	44
2030 - 2040 Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	296
2030 - 2040 Expiration [Member] | Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	13
2030 - 2040 Expiration [Member] | State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	191
2030 - 2040 Expiration [Member] | Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	92
Unlimited Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	497
Unlimited Expiration [Member] | Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	54
Unlimited Expiration [Member] | Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	$ 443

Business Segments and Geograp_3

Business Segments and Geographic Areas - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 Segment BusinessUnit
Segment Reporting [Abstract]
Number of reportable segments | Segment	2
Number of business units | BusinessUnit	17

Business Segments and Geograp_4

Business Segments and Geographic Areas - Business Segments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from external customers	$ 8,870	$ 8,583	$ 7,237
Total revenue	8,870	8,583	7,237
Cost of revenue	6,543	6,473	5,574
Selling, general, and administrative	1,108	1,160	1,098
Depreciation and amortization	343	302	301
(Gain)/loss on sales of fixed assets		(3)
Operating profit	876	651	264
Interest and financial costs	(91)	(88)	(78)
Interest income	38	28	19
Equity income (loss) in unconsolidated affiliates	36	119	68
Other expense, net	(28)	(98)	(35)
Income before income taxes	831	612	238
Capital expenditures	351	283	214
Investment in unconsolidated affiliates	163	211	117
Total assets	11,361	11,294	10,135
Operating Segments [Member] | Energy Products and Services [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	4,040	3,973	3,474
Intersegment revenue	90	104	63
Total revenue	4,130	4,077	3,537
Cost of revenue	2,934	2,870	2,537
Selling, general, and administrative	500	518	488
Depreciation and amortization	221	183	179
(Gain)/loss on sales of fixed assets		(1)	2
Operating profit	475	507	331
Equity income (loss) in unconsolidated affiliates	33	111	71
Income before income taxes	508	618	402
Capital expenditures	255	198	131
Investment in unconsolidated affiliates	158	211	87
Total assets	5,054	4,777	4,126
Operating Segments [Member] | Energy Equipments [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	4,830	4,610	3,763
Intersegment revenue	58	59	56
Total revenue	4,888	4,669	3,819
Cost of revenue	3,671	3,670	3,085
Selling, general, and administrative	494	521	482
Depreciation and amortization	115	111	115
(Gain)/loss on sales of fixed assets		(4)
Operating profit	608	371	137
Equity income (loss) in unconsolidated affiliates	3	8	(3)
Income before income taxes	611	379	134
Capital expenditures	86	68	71
Investment in unconsolidated affiliates	5		30
Total assets	4,895	5,509	4,745
Eliminations and Corporate Costs [Member]
Segment Reporting Information [Line Items]
Intersegment revenue	(148)	(163)	(119)
Total revenue	(148)	(163)	(119)
Cost of revenue	(62)	(67)	(48)
Selling, general, and administrative	114	121	128
Depreciation and amortization	7	8	7
(Gain)/loss on sales of fixed assets		2	(2)
Operating profit	(207)	(227)	(204)
Interest and financial costs	(91)	(88)	(78)
Interest income	38	28	19
Other expense, net	(28)	(98)	(35)
Income before income taxes	(288)	(385)	(298)
Capital expenditures	10	17	12
Total assets	$ 1,412	$ 1,008	$ 1,264

Business Segments and Geograp_5

Business Segments and Geographic Areas - Business Segments (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Other items, net	$ (109)	$ 51	$ 114
Energy Products and Services [Member] | Voluntary Early Retirement Program (VERP) [Member] | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net		29
Energy Products and Services [Member] | Non-cash Discount Charge on Royalty Receivables [Member] | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net		25
Energy Products and Services [Member] | Inventory Charges [Member] | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net		1	1
Energy Products and Services [Member] | Severance and Other Restructuring Costs | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net	8		2
Energy Equipment [Member] | Gain on Business Divestiture | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net	130
Energy Equipment [Member] | Voluntary Early Retirement Program (VERP) [Member] | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net		19
Energy Equipment [Member] | Inventory Charges [Member] | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net	3	19	34
Energy Equipment [Member] | Release of Earnout Accrual [Member] | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net		25
Energy Equipment [Member] | Severance and Other Restructuring Costs | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net	15	1	6
Energy Equipment [Member] | Severance and Other Restructuring Costs | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net		$ 10
Russia [Member] | Energy Products and Services [Member] | Impairment Charges [Member] | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net	$ 1
Russia [Member] | Energy Products and Services [Member] | Impairment And Other Charges | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net			60
Russia [Member] | Energy Products and Services [Member] | Impairment And Other Charges | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net			11
Russia [Member] | Energy Equipment [Member] | Impairment And Other Charges | Cost of Revenue [Member]
Segment Reporting Information [Line Items]
Other items, net			12
Russia [Member] | Energy Equipment [Member] | Impairment And Other Charges | Selling, General and Administrative [Member]
Segment Reporting Information [Line Items]
Other items, net			$ 40

Business Segments and Geograp_6

Business Segments and Geographic Areas - Revenues by Country Based on Sales Destination of Products or Service (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 8,870	$ 8,583	$ 7,237
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,984	2,933	2,603
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 5,886	$ 5,650	$ 4,634

Business Segments and Geograp_7

Business Segments and Geographic Areas - Net Property, Plant and Equipment by Country Based on the Location (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 1,922	$ 1,865
United States [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	928	906
Saudi Arabia [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	303	258
Other Countries [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 691	$ 701

Impairment and Other Items - Ad

Impairment and Other Items - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	$ 109	$ 51	$ 114
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of Revenue, Selling, General and Administrative Expense
VERP [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		$ 52
Non-cash Discount Charge on Royalty Receivables [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		25
Release of Earnout Accrual [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		25
Gains On Sales Of Previously Reserved Inventory [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		20
Facility Closure and Other Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	21
Cost of Revenue [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	110	10	63
Selling, General and Administrative [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	1	$ 41	51
Pole Products Business [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	$ 130
Russia and Belarus [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges			$ 127

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Detail) $ in Millions		3 Months Ended	12 Months Ended
	Apr. 09, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2024 USD ($) Acquisition	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Number of strategic acquisition | Acquisition			3
Business acquisitions, net of cash acquired			$ 298	$ 22	$ 49
Goodwill and amortizable intangible assets			171
Property, plant, and equipment			64
Net working capital			92
Finance and operating lease liabilities			18
Finance and other liabilities			18
Gain	$ 130
Keystone Tower Systems [Member]
Business Acquisition [Line Items]
Purchase of remaining noncontrolling interest		$ 30
Energy Products and Services Segment [Member]
Business Acquisition [Line Items]
Business acquisitions, net of cash acquired			$ 291

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions		3 Months Ended	12 Months Ended
	Apr. 25, 2024	Dec. 31, 2024	Dec. 31, 2024
Class of Stock [Line Items]
Share repurchases aggregate amount			$ 229
Common Stock [Member]
Class of Stock [Line Items]
Stock repurchase program period	36 months
Share repurchased under the program		7.5	14.2
Share repurchases aggregate amount		$ 112	$ 229
Common Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Share repurchase program authorized amount	$ 1,000

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reserve for Excess and Obsolete Inventories [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	$ 354	$ 378	$ 444
Additions (Deductions) charged to costs and expenses	31	28	(18)
Charge offs and other	(99)	(52)	(48)
Balance end of year	286	354	378
Valuation Allowance for Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	346	920	1,127
Additions (Deductions) charged to costs and expenses	(64)	(564)	24
Charge offs and other	(16)	(10)	(231)
Balance end of year	$ 266	$ 346	$ 920