Halliburton (HAL) 10-K 12 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ / shares in Units, $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 05, 2025	Jun. 30, 2024	Dec. 31, 2023
Document And Enity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Entity File Number	001-03492
Entity Registrant Name	HALLIBURTON COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2677995
Entity Address, Address Line One	3000 North Sam Houston Parkway East,
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77032
City Area Code	281
Local Phone Number	871-2699
Title of 12(b) Security	Common Stock, par value $2.50 per share
Trading Symbol	HAL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 22.2
Entity Common Stock, Shares Outstanding		868,091,623
Entity Central Index Key	0000045012
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock, Par or Stated Value Per Share	$ 2.50			$ 2.50
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Name [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Houston, TX
Auditor Firm ID	185

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Revenue		$ 22,944	$ 23,018	$ 20,297
Operating costs and expenses:
Impairments and other charges	[1]	116	0	366
SAP S4 Upgrade Expense		124	51	0
General and administrative		239	226	240
Total operating costs and expenses		19,122	18,935	17,590
Total operating income		3,822	4,083	2,707
Interest expense, net of interest income		(353)	(395)	(463)
Gain (Loss) on Blue Chip Swap Transaction		(8)	(110)	0
Argentina Currency Devaluation		0	(131)	(30)
Gain (Loss) on Extinguishment of Debt		0	0	(42)
Other, net		(227)	(84)	(62)
Income (loss) before income taxes		3,234	3,363	2,110
Income tax benefit (provision)		(718)	(701)	(515)
Net income (loss)		2,516	2,662	1,595
Net (income) loss attributable to noncontrolling interest		(15)	(24)	(23)
Net income (loss) attributable to company		$ 2,501	$ 2,638	$ 1,572
Income (Loss) from Continuing Operations, Per Basic Share		$ 2,840,000	$ 2,930,000	$ 1.74
Amounts attributable to company shareholders:
Net income (loss) attributable to company		$ 2,501	$ 2,638	$ 1,572
Basic and diluted income (loss) per share attributable to company shareholders:
Diluted weighted average common shares outstanding		883	902	908
Basic weighted average common shares outstanding		882	899	904
Income (loss) from continuing operations (in dollars per share)		$ 2,830,000	$ 2,920,000	$ 1.73
Services [Member]
Revenue:
Revenue		$ 16,348	$ 16,483	$ 14,749
Operating costs and expenses:
Cost of services and sales		13,470	13,402	12,381
Product sales [Member]
Revenue:
Revenue		6,596	6,535	5,548
Operating costs and expenses:
Cost of services and sales		$ 5,173	$ 5,256	$ 4,603
[1] Impairments and other charges are as follows: -For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other. -For the year ended December 31, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million net gain attributable to Corporate and other.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investment Income, Interest	$ 97	$ 81	$ 29

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income (loss)	$ 2,516	$ 2,662	$ 1,595
Other comprehensive income (loss), net of income taxes:
Defined benefit and other postretirement plans adjustments	(26)	(106)	(54)
Other	5	5	7
Other comprehensive loss, net of income taxes	(21)	(101)	(47)
Comprehensive income (loss)	2,495	2,561	1,548
Comprehensive income attributable to noncontrolling interest	(16)	(24)	(23)
Comprehensive income (loss) attributable to company shareholders	$ 2,479	$ 2,537	$ 1,525

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets, Current [Abstract]
Cash and equivalents	$ 2,618	$ 2,264
Receivables (net of allowances for bad debts)	5,117	4,860
Inventories	3,040	3,226
Other current assets	1,607	1,193
Total current assets	12,382	11,543
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	12,461	12,064
Property, plant and equipment (net of accumulated depreciation)	5,113	4,900
Goodwill	2,838	2,850
Deferred income taxes	2,339	2,505
Operating lease right-of-use assets	1,022	1,088
Other Assets	1,893	1,797
Total assets	25,587	24,683
Current liabilities:
Accounts payable	3,189	3,147
Accrued employee compensation and benefits	711	689
Accrued Income Taxes, Current	449	390
Long-Term Debt, Current Maturities	381	0
Accrual for Taxes Other than Income Taxes	328	370
Current portion of operating lease liabliities	263	262
Other current liabilities	729	750
Total current liabilities	6,050	5,608
Long-term debt	7,160	7,636
Operating lease liabilities	798	911
Employee compensation and benefits	414	408
Other liabilities	617	687
Total liabilities	$ 15,039	$ 15,250
Common Stock, Shares, Issued	1,065	1,065
Common Stock, Shares Authorized	2,000	2,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Common stock, par value $2.50 per share	$ 2,662	$ 2,663
Paid-in capital in excess of par value	79	63
Accumulated other comprehensive loss	(353)	(331)
Retained earnings	14,332	12,536
Treasury stock, at cost	(6,214)	(5,540)
Company shareholders’ equity	10,506	9,391
Noncontrolling interest in consolidated subsidiaries	42	42
Total shareholders’ equity	10,548	9,433
Total liabilities and shareholders’ equity	$ 25,587	$ 24,683

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 754	$ 742
Accounts Receivable, Allowance for Credit Loss, Current	$ 754	$ 742
Treasury Stock, Shares	197	176
Common Stock, Shares, Issued	1,065	1,065
Common Stock, Shares Authorized	2,000	2,000
Common Stock, Par or Stated Value Per Share	$ 2.50	$ 2.50

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 2,516	$ 2,662	$ 1,595
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Impairments and other charges	116	0	366
Depreciation, depletion and amortization	1,079	998	940
Deferred Income Taxes and Tax Credits	148	196	70
Changes in assets and liabilities:
Receivables	(312)	(257)	(1,151)
Accounts payable	62	49	852
Inventories	147	(303)	(642)
Other operating activities	109	113	212
Total cash flows provided by operating activities	3,865	3,458	2,242
Cash flows from investing activities:
Capital expenditures	(1,442)	(1,379)	(1,011)
Proceeds from sales of property, plant and equipment	223	195	200
Other investing activities	(211)	(114)	(81)
Total cash flows used in investing activities	(1,654)	(1,659)	(967)
Cash flows from financing activities:
Dividends to shareholders	(600)	(576)	(435)
Proceeds from issuance of common stock	105	136	229
Stock repurchase program	(1,005)	(800)	(250)
Payments on long-term borrowings	(100)	(305)	(1,242)
Other financing activities	(130)	(126)	(100)
Total cash flows used in financing activities	(1,730)	(1,671)	(1,798)
Cash and equivalents at beginning of year	2,264
Cash and equivalents at end of year	2,618	2,264
Cash payments (receipts) during the period for:
Interest	441	460	487
Income taxes	538	616	354
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	354	(82)	(698)
Cash and equivalents	2,618	2,264	2,346	$ 3,044
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	(127)	(210)	(175)
Payments to Acquire Marketable Securities	(438)	(492)	(75)
Proceeds from Sale and Maturity of Marketable Securities	$ 214	$ 131	$ 0

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock	Paid-in Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest in Consolidated Subsidiaries	Treasury Stock, Common
Beginning balance at Dec. 31, 2021	$ 6,728	$ 2,665	$ 32	$ 9,710	$ (183)	$ 15	$ (5,511)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,595	0	0	1,572	0	23	0
Other comprehensive income (loss)	(47)	0	0	0	(47)	0	0
Cash dividends	(435)	0	0	(435)	0		0
Cash dividends - Noncontrolling interest						0
Stock plans	(395)	(1)	(18)	(275)	0	0	(653)
Stock repurchase program	(250)	0	0	0	0	0	(250)
Other	(9)	0	0	0	0	(9)	0
Ending balance at Dec. 31, 2022	$ 7,977	2,664	50	10,572	(230)	29	(5,108)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared	$ 0.48
Net income (loss)	$ 2,662	0	0	2,638	0	24	0
Other comprehensive income (loss)	(101)	0	0	0	(101)	0	0
Cash dividends	(576)	0	0	(576)	0		0
Cash dividends - Noncontrolling interest						0
Stock plans	(282)	(1)	(13)	(98)	0	0	(368)
Stock repurchase program	(800)	0	0	0	0	0	(800)
Other	(11)	0	0	0	0	(11)	0
Ending balance at Dec. 31, 2023	$ 9,433	2,663	63	12,536	(331)	42	(5,540)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared	$ 0.64
Net income (loss)	$ 2,516	0	0	2,501	0	15	0
Other comprehensive income (loss)	(21)	0	0	0	(22)	1	0
Cash dividends	(600)	0	0	(600)	0		0
Cash dividends - Noncontrolling interest						0
Stock plans	(241)	(1)	(16)	(105)	0	0	(331)
Stock repurchase program	(1,005)	0	0	0	0	0	(1,005)
Other	(16)	0	0	0	0	(16)	0
Ending balance at Dec. 31, 2024	$ 10,548	$ 2,662	$ 79	$ 14,332	$ (353)	$ 42	$ (6,214)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared	$ 0.68

Description of Company and Sign

Description of Company and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Company and Significant Accounting Policies	Description of Company and Significant Accounting Policies Description of Company Halliburton Company is one of the world’s largest providers of products and services to the energy industry. Its predecessor was established in 1919 and incorporated under the laws of the State of Delaware in 1924. We help our customers maximize asset value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. We serve major, national, and independent oil and natural gas companies throughout the world and operate under two divisions, which form the basis for the two operating segments we report, the Completion and Production segment and the Drilling and Evaluation segment. Use of estimates Our financial statements are prepared in conformity with United States generally accepted accounting principles, requiring us to make estimates and assumptions that affect: - the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and - the reported amounts of revenue and expenses during the reporting period. We believe the most significant estimates and assumptions are associated with the forecasting of our income tax (provision) benefit and the valuation of deferred taxes, long-lived asset valuations, and allowance for credit losses. Ultimate results could differ from our estimates. Basis of presentation The consolidated financial statements include the accounts of our company and all of our subsidiaries that we control or variable interest entities for which we have determined that we are the primary beneficiary. All material intercompany accounts and transactions are eliminated. Investments in companies in which we do not have a controlling interest, but over which we do exercise significant influence, are accounted for using the equity method of accounting, unless we elect the fair value option. If we do not have significant influence and the investment has no readily determinable fair value, we elect the measurement alternative. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation. Revenue recognition Our services and products are generally sold based upon purchase orders or contracts with our customers that include fixed or determinable prices but do not include right of return provisions or other significant post-delivery obligations. The vast majority of our service and product contracts are short-term in nature. We recognize revenue based on the transfer of control or our customers’ ability to benefit from our services and products in an amount that reflects the consideration we expect to receive in exchange for those services and products. We also assess our customers’ ability and intention to pay, which is based on a variety of factors, including our historical payment experience with, and the financial condition of our customers. Rates for services are typically priced on a per day, per meter, per man-hour, or similar basis. See Notes to Consolidated Financial Statements, Note 4 for further information on revenue recognition. Research and development We maintain an active research and development program. The program improves products, processes, and engineering standards and practices that serve the changing needs of our customers. Research and development costs are expensed as incurred and were $426 million in 2024, $408 million in 2023, and $345 million in 2022. Cash equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Inventories Inventories are stated at the lower of cost or net realizable value. Cost represents invoice or production cost for new items and original cost. Production cost includes material, labor, and manufacturing overhead. Our inventory is recorded on the weighted average cost method. We regularly review inventory quantities on hand and record provisions for excess or obsolete inventory based primarily on historical usage, estimated product demand, and technological developments. Allowance for credit losses We establish an allowance for credit losses through a review of several factors, including historical collection experience, current aging status of the customer accounts, and current financial condition of our customers. Losses are charged against the allowance when the customer accounts are determined to be uncollectible. Property, plant, and equipment Other than those assets that have been written down to their fair values due to impairment, property, plant, and equipment are reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are often used for tax purposes, when permitted. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is recognized. Planned major maintenance costs are generally expensed as incurred. Expenditures for additions, modifications, and conversions are capitalized when they increase the value or extend the useful life of the asset. Goodwill and other intangible assets We record as goodwill the excess purchase price over the fair value of the tangible and identifiable intangible assets acquired in a business acquisition. Changes in the carrying amount of goodwill are detailed below by reportable segment. Millions of dollars Completion and Production Drilling and Evaluation Total Balance at December 31, 2022: $ 2,020 $ 809 $ 2,829 Current year acquisitions — 21 21 Other 12 (12) — Balance at December 31, 2023: $ 2,032 $ 818 $ 2,850 Current year acquisitions 8 — 8 Other (20) — (20) Balance at December 31, 2024: $ 2,020 $ 818 $ 2,838 The reported amounts of goodwill for each reporting unit are reviewed for impairment on an annual basis, during the third quarter, and more frequently when circumstances indicate an impairment may exist. As a result of our goodwill impairment assessments performed in the years ended December 31, 2024, 2023, and 2022, we determined that the fair value of each reporting unit exceeded its net book value and, therefore, no goodwill impairments were deemed necessary. We amortize other identifiable intangible assets with a finite life on a straight-line basis over the period which the asset is expected to contribute to our future cash flows, ranging from one year to thirty years. The components of these other intangible assets generally consist of patents, license agreements, non-compete agreements, trademarks, and customer lists and contracts. Evaluating impairment of long-lived assets When events or changes in circumstances indicate that long-lived assets other than goodwill may be impaired, an evaluation is performed. For assets classified as held for use, we first group individual assets based on the lowest level for which identifiable cash flows are largely independent of the cash flows from other assets. We then compare estimated future undiscounted cash flows expected to result from the use and eventual disposition of the asset group to its carrying amount. If the asset group’s undiscounted cash flows are less than its carrying amount, we then determine the asset group’s fair value by using a discounted cash flow analysis and recognize any resulting impairment. When an asset is classified as held for sale, the asset’s book value is evaluated and adjusted to the lower of its carrying amount or fair value less cost to sell. In addition, depreciation and amortization is ceased while it is classified as held for sale. See Notes to Consolidated Financial Statements, Note 2 for further information on impairments and other charges. Income taxes We recognize the amount of taxes payable or refundable for the year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that we will realize the benefits of these deductible differences, net of the existing valuation allowances. We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes on continuing operations in our consolidated statements of operations. Derivative instruments At times, we enter into derivative financial transactions to manage existing or projected exposures to changing foreign currency exchange rates, interest rates, and credit risk. We do not enter into derivative transactions for speculative or trading purposes. We recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value which are reflected within “Other, net” on our consolidated statements of operations. If the derivative is designated as a hedge, depending on the nature of the hedge, changes in the fair value of derivatives are either offset against: - the change in fair value of the hedged assets, liabilities, or firm commitments through earnings; or - recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is recognized in earnings. Recognized gains or losses on derivatives entered into to manage foreign currency exchange risk and credit risk are included in “Other, net” on the consolidated statements of operations. Gains or losses on interest rate derivatives are included in “Interest expense, net.” Foreign currency translation Foreign entities whose functional currency is the U.S. dollar translate monetary assets and liabilities at year-end exchange rates, and nonmonetary items are translated at historical rates. Revenue and expense transactions are translated at the average rates in effect during the year, except for those expenses associated with nonmonetary balance sheet accounts, which are translated at historical rates. Gains or losses from remeasurement of monetary assets and liabilities due to changes in exchange rates are recognized in our consolidated statements of operations in “Other, net” in the year of occurrence. Stock-based compensation Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award and is recognized as expense over the employee’s service period, which is generally the vesting period of the equity grant. Additionally, compensation cost is recognized based on awards ultimately expected to vest, therefore, we have reduced the cost for estimated forfeitures based on historical forfeiture rates. Forfeitures are estimated at the time of grant and revised in subsequent periods to reflect actual forfeitures. See Notes to Consolidated Financial Statements, Note 14 for additional information related to stock-based compensation.

Impairment and Other Charges (N

Impairment and Other Charges (Notes)	12 Months Ended
	Dec. 31, 2024
Impairments and Other Charges [Abstract]
Impairments and Other Charges	Impairments and Other Charges The following table presents various pre-tax charges we recorded during the years ended December 31, 2024 and 2022 which are reflected within “Impairments and other charges” on our consolidated statements of operations. Year Ended December 31, Millions of dollars 2024 2023 2022 Severance costs $ 63 $ — $ — Impairment of assets held for sale 49 — — Cybersecurity 35 — — Gain on investment (43) — — Receivables — — 202 Long-lived asset impairments — — 100 Inventory costs and write-downs — — 70 Other 12 — (6) Total impairments and other charges $ 116 $ — $ 366 During the year ended December 31, 2024, we recorded $116 million net charges, of which $45 million was attributable to our Completion and Production segment, $34 million was attributable to our Drilling and Evaluation segment, and $37 million was attributable to Corporate and other. These charges included $63 million in severance expense as we rationalized global headcount to reflect growth expectations in addition to a $49 million impairment associated with a strategic decision to market for sale a portion of our chemical business. Also, a s disclosed within our Form 8-Ks filed with the SEC on August 23, 2024, and September 3, 2024, we became aware that an unauthorized third party gained access to certain of our systems. As a result, we incurred $35 million in expenses related to the engagement of external advisors to assess and remediate the effects of the activity, and restore our systems, as well as legal fees, payroll related costs, and other expenses. Additionally, we recognized a gain of $43 million related to a fair value adjustment on an equity investment during the year ended December 31, 2024. During the year ended December 31, 2023, there were no amounts recorded in impairment and other charges. During the year ended December 31, 2022, due to Russia’s invasion of Ukraine and resulting sanctions imposed on Russia, we made the decision to sell our Russian operations and completed the sale in the third quarter of 2022. We wrote down the disposal group to fair value less costs to sell, which resulted in a pre-tax charge of $344 million. Of this pre-tax charge, approximately $131 million was attributable to our Completion and Production segment, approximately $178 million was attributable to our Drilling and Evaluation segment, and $35 million was selling costs and was attributable to Corporate and other. We no longer conduct operations in Russia. Additionally, during the first quarter of 2022, we recorded a pre-tax charge of $22 million primarily related to the write down of all our assets in Ukraine. Included in this charge is a $16 million allowance for credit loss as we do not expect to collect our receivables in Ukraine. Long-lived asset impairments include impairments of property, plant, and equipment.

Business Segment and Geographic

Business Segment and Geographic Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business Segment and Geographic Information	Business Segment and Geographic Information We operate under two divisions, which form the basis for the two operating segments we report: the Completion and Production segment and the Drilling and Evaluation segment. Our equity in earnings and losses of unconsolidated affiliates that are accounted for using the equity method of accounting are included within cost of services and cost of sales on our statements of operations, which is part of operating income of the applicable segment. Our company’s chief operating decision maker (CODM) is Jeffrey Miller, Chairman of the Board, President and Chief Executive Officer. Our CODM assesses the performance of the two divisions and makes resource allocation decisions based on divisional revenue and operating income. Operations by business segment The following tables present financial information on our business segments. Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue: Completion and Production $ 13,251 $ 13,689 $ 11,582 Drilling and Evaluation 9,693 9,329 8,715 Total revenue $ 22,944 $ 23,018 $ 20,297 Operating income: Completion and Production $ 2,709 $ 2,835 $ 2,037 Drilling and Evaluation 1,608 1,543 1,292 Total operations 4,317 4,378 3,329 Corporate and other (a) (255) (244) (256) SAP S4 upgrade expense (124) (51) — Impairments and other charges (b) (116) — (366) Total operating income $ 3,822 $ 4,083 $ 2,707 Interest expense, net of interest income $ (353) $ (395) $ (463) Loss on Blue Chip Swap transactions (8) (110) — Argentina currency impact — (131) (30) Loss on early extinguishment of debt — — (42) Other, net (227) (84) (62) Income before income taxes $ 3,234 $ 3,363 $ 2,110 Capital expenditures: Completion and Production $ 775 $ 765 $ 589 Drilling and Evaluation 665 613 420 Corporate and other 2 1 2 Total capital expenditures $ 1,442 $ 1,379 $ 1,011 Depreciation, depletion, and amortization: Completion and Production $ 588 $ 553 $ 520 Drilling and Evaluation 475 430 406 Corporate and other 16 15 14 Total depreciation, depletion, and amortization $ 1,079 $ 998 $ 940 (a) Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions. (b) Impairments and other charges are as follows: -For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other. -For the year ended December 31, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million net gain attributable to Corporate and other. The following table presents significant segment expenses, which represent the difference between segment revenue and segment operating income and are regularly reviewed by our CODM. 2024 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,428 $ 3,803 Compensation 1,922 1,865 Depreciation, depletion, and amortization 588 475 Other 2,604 1,942 Total segment operating expenses $ 10,542 $ 8,085 2023 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,906 $ 3,771 Compensation 1,810 1,750 Depreciation, depletion, and amortization 553 430 Other 2,585 1,835 Total segment operating expenses $ 10,854 $ 7,786 2022 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,573 $ 3,293 Compensation 1,614 1,596 Depreciation, depletion, and amortization 520 406 Other 1,838 2,128 Total segment operating expenses $ 9,545 $ 7,423 Other segment operating expenses primarily consist of maintenance, overhead allocations, facilities cost, and other miscellaneous costs. The following table presents total assets by segment. December 31, Millions of dollars 2024 2023 Total assets: Completion and Production (a) $ 11,987 $ 11,606 Drilling and Evaluation (a) 7,806 7,532 Corporate and other (b) 5,794 5,545 Total assets $ 25,587 $ 24,683 (a) Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill. (b) Includes primarily cash and equivalents and deferred tax assets. Operations by geographic region The following tables present information by geographic area. In 2024, 2023, and 2022, based on the location of services provided and products sold, 40%, 44%, and 45%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue or property, plant, and equipment during the periods presented. As of December 31, 2024 and December 31, 2023, 49% and 59%, respectively, of our property, plant, and equipment was located in the United States. Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue: North America $ 9,626 $ 10,492 $ 9,597 Latin America 4,211 3,987 3,197 Europe/Africa/CIS 3,003 2,861 2,691 Middle East/Asia 6,104 5,678 4,812 Total revenue $ 22,944 $ 23,018 $ 20,297 December 31, Millions of dollars 2024 2023 Net property, plant, and equipment: North America $ 2,595 $ 2,961 Latin America 1,002 527 Europe/Africa/CIS 593 444 Middle East/Asia 923 968 Total net property, plant, and equipment $ 5,113 $ 4,900

Revenue (Notes)

Revenue (Notes)	12 Months Ended
	Dec. 31, 2024
Revenue [Abstract]
Revenue	Revenue Revenue is recognized based on the transfer of control or our customers’ ability to benefit from our services and products in an amount that reflects the consideration we expect to receive in exchange for those services and products. Most of our service and product contracts are short-term in nature. In recognizing revenue for our services and products, we determine the transaction price of purchase orders or contracts with our customers, which may consist of fixed and variable consideration. We also assess our customers’ ability and intention to pay, which is based on a variety of factors, including our historical payment experience with, and the financial condition of our customers. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 20 to 60 days. Other judgments involved in recognizing revenue include an assessment of progress towards completion of performance obligations for certain long-term contracts, which involve estimating total costs to determine our progress towards contract completion, and calculating the corresponding amount of revenue to recognize. Disaggregation of revenue We disaggregate revenue from contracts with customers into types of services or products, consistent with our two reportable segments, in addition to geographical area. Based on the location of services provided and products sold, 40%, 44%, and 45% of our consolidated revenue was from the United States for the years ended December 31, 2024, 2023, and 2022, respectively. No other country accounted for more than 10% of our revenue. The following table presents information on our disaggregated revenue. Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue by segment: Completion and Production $ 13,251 $ 13,689 $ 11,582 Drilling and Evaluation 9,693 9,329 8,715 Total revenue $ 22,944 $ 23,018 $ 20,297 Revenue by geographic region: North America $ 9,626 $ 10,492 $ 9,597 Latin America 4,211 3,987 3,197 Europe/Africa/CIS 3,003 2,861 2,691 Middle East/Asia 6,104 5,678 4,812 Total revenue $ 22,944 $ 23,018 $ 20,297 Contract balances We perform our obligations under contracts with our customers by transferring services and products in exchange for consideration. The timing of our performance often differs from the timing of our customer’s payment, which results in the recognition of receivables and deferred revenue. Deferred revenue represents advance consideration received from customers for contracts where revenue is recognized on future performance of service. Deferred revenue, as well as revenue recognized during the period relating to amounts included as deferred revenue at the beginning of the period, was not material to our consolidated financial statements. Transaction price allocated to remaining performance obligations Remaining performance obligations represent firm contracts for which work has not been performed and future revenue recognition is expected. We have elected the practical expedient permitting the exclusion of disclosing remaining performance obligations for contracts that have an original expected duration of one year or less. We have some long-term contracts related to software and integrated project management services such as lump sum turnkey contracts. For software contracts, revenue is generally recognized over the duration of the contract period when the software is considered to be a right to access our intellectual property. For lump sum turnkey projects, we recognize revenue over time using an input method, which requires us to exercise judgment. Revenue allocated to remaining performance obligations for these long-term contracts is not material.

Receivables

Receivables	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Receivables	Receivables As of December 31, 2024, 30% of our net trade receivables were from customers in the United States and 11% were from customers in Mexico. As of December 31, 2023, 33% of our net trade receivables were from customers in the United States and 9% were from customers in Mexico. Receivables from our primary customer in Mexico accounted for approximately 8% and 6% of our total receivables as of December 31, 2024 and December 31, 2023, respectively. While we have experienced payment delays from our primary customer in Mexico, the amounts are not in dispute and we have not historically had, and we do not expect any material write-offs due to collectability of receivables from this customer. Furthermore, we have entered into CDSs with third-party financial institutions that have an aggregate notional amount outstanding as of December 31, 2024 of $739 million related to borrowings provided by the financial institutions to one of our primary customers in Mexico, of which, portions of the proceeds were utilized by this customer to pay certain of our outstanding receivables. See Notes to Consolidated Financial Statements, Note 16 for further information on these CDSs. No country other than the United States and Mexico and no single customer accounted for more than 10% of our receivables at those dates. We have risk of delayed customer payments and payment defaults associated with customer liquidity issues. We routinely monitor the financial stability of our customers and employ an extensive process to evaluate the collectability of outstanding receivables. This process, which involves judgment and estimates, includes analysis of our customers’ historical time to pay, financial condition and various financial metrics, debt structure, credit ratings, and production profile, as well as political and economic factors in countries of operations and other customer-specific factors. The table below presents a rollforward of our allowance for credit losses for 2022, 2023 and 2024. Millions of dollars Balance at Beginning of Period Provision (a) Other (b) Balance at End of Period (c) Year ended December 31, 2022 $ 754 $ 2 $ (25) $ 731 Year ended December 31, 2023 731 22 (11) 742 Year ended December 31, 2024 742 17 (5) 754 (a) Represents increases to allowance for credit losses charged to costs and expenses, net of recoveries. (b) Includes write-offs, balance sheet reclassifications, and other activity. (c) The allowance for credit losses in all years is primarily comprised of a full reserve against accounts receivable with our primary customer in Venezuela.

Leases (Notes)

Leases (Notes)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Lessee, Finance Leases	Leases For operating leases, lease expense for lease payments is recognized on a straight-line basis over the lease term and accretion of the lease liability, while finance leases include both an operating expense and an interest expense component. For all leases with a term of 12 months or less, we recognize lease expense for these short-term leases on a straight-line basis over the lease term. We are a lessee for numerous operating leases, primarily related to real estate, transportation, and equipment. The vast majority of our operating leases have remaining lease terms of 10 years or less, some of which include options to extend the leases, and some of which include options to terminate the leases. We generally do not include renewal or termination options in our assessment of the leases unless extension or termination for certain assets is deemed to be reasonably certain. The accounting for some of our leases may require judgment, which includes determining whether a contract contains a lease, determining the incremental borrowing rates to utilize in our net present value calculation of lease payments for lease agreements which do not provide an implicit rate, and assessing the likelihood of renewal or termination options. We also have some lease agreements with lease and non-lease components, which are generally accounted for as a single lease component. For certain equipment leases, such as offshore vessels and drilling rigs, we account for the lease and non-lease components separately. The following tables illustrate the financial impact of our leases as of and for the years ended December 31, 2024, 2023, and 2022, along with other supplemental information about our existing leases: Year Ended December 31, Millions of dollars 2024 2023 2022 Components of lease expense: Finance lease cost: Amortization of right-of-use assets $ 37 $ 30 $ 20 Interest on lease liabilities 38 41 38 Operating lease cost 353 337 301 Short-term lease cost 42 35 31 Sublease income (3) (2) (3) Total lease cost $ 467 $ 441 $ 387 As of December 31, Millions of dollars 2024 2023 Components of balance sheet: Operating leases: Operating lease right-of-use assets (non-current) $ 1,022 $ 1,088 Current portion of operating lease liabilities 263 262 Operating lease liabilities (non-current) 798 911 Finance leases: Other assets (non-current) $ 139 $ 120 Other current liabilities 44 32 Other liabilities (non-current) 126 132 Year Ended December 31, Millions of dollars except years and percentages 2024 2023 2022 Other supplemental information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 374 $ 354 $ 332 Operating cash flows for finance leases 38 41 38 Financing cash flows for finance leases 33 37 26 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 274 $ 487 $ 249 Finance leases 57 64 62 Weighted-average remaining lease term: Operating leases 7.9 years 8.2 years 9.5 years Finance leases 4.6 years 5.3 years 5.9 years Weighted-average discount rate for operating leases 5.4 % 5.3 % 5.2 % The following table summarizes the maturity of our operating and finance leases as of December 31, 2024: Millions of dollars Operating Leases Finance Leases 2025 $ 317 $ 78 2026 232 75 2027 159 40 2028 101 19 2029 82 10 Thereafter 453 16 Total lease payments 1,344 238 Imputed interest (284) (68) Total lease payments, net of imputed interest $ 1,060 $ 170
Lessee, Operating Leases	Leases For operating leases, lease expense for lease payments is recognized on a straight-line basis over the lease term and accretion of the lease liability, while finance leases include both an operating expense and an interest expense component. For all leases with a term of 12 months or less, we recognize lease expense for these short-term leases on a straight-line basis over the lease term. We are a lessee for numerous operating leases, primarily related to real estate, transportation, and equipment. The vast majority of our operating leases have remaining lease terms of 10 years or less, some of which include options to extend the leases, and some of which include options to terminate the leases. We generally do not include renewal or termination options in our assessment of the leases unless extension or termination for certain assets is deemed to be reasonably certain. The accounting for some of our leases may require judgment, which includes determining whether a contract contains a lease, determining the incremental borrowing rates to utilize in our net present value calculation of lease payments for lease agreements which do not provide an implicit rate, and assessing the likelihood of renewal or termination options. We also have some lease agreements with lease and non-lease components, which are generally accounted for as a single lease component. For certain equipment leases, such as offshore vessels and drilling rigs, we account for the lease and non-lease components separately. The following tables illustrate the financial impact of our leases as of and for the years ended December 31, 2024, 2023, and 2022, along with other supplemental information about our existing leases: Year Ended December 31, Millions of dollars 2024 2023 2022 Components of lease expense: Finance lease cost: Amortization of right-of-use assets $ 37 $ 30 $ 20 Interest on lease liabilities 38 41 38 Operating lease cost 353 337 301 Short-term lease cost 42 35 31 Sublease income (3) (2) (3) Total lease cost $ 467 $ 441 $ 387 As of December 31, Millions of dollars 2024 2023 Components of balance sheet: Operating leases: Operating lease right-of-use assets (non-current) $ 1,022 $ 1,088 Current portion of operating lease liabilities 263 262 Operating lease liabilities (non-current) 798 911 Finance leases: Other assets (non-current) $ 139 $ 120 Other current liabilities 44 32 Other liabilities (non-current) 126 132 Year Ended December 31, Millions of dollars except years and percentages 2024 2023 2022 Other supplemental information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 374 $ 354 $ 332 Operating cash flows for finance leases 38 41 38 Financing cash flows for finance leases 33 37 26 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 274 $ 487 $ 249 Finance leases 57 64 62 Weighted-average remaining lease term: Operating leases 7.9 years 8.2 years 9.5 years Finance leases 4.6 years 5.3 years 5.9 years Weighted-average discount rate for operating leases 5.4 % 5.3 % 5.2 % The following table summarizes the maturity of our operating and finance leases as of December 31, 2024: Millions of dollars Operating Leases Finance Leases 2025 $ 317 $ 78 2026 232 75 2027 159 40 2028 101 19 2029 82 10 Thereafter 453 16 Total lease payments 1,344 238 Imputed interest (284) (68) Total lease payments, net of imputed interest $ 1,060 $ 170

Inventories

Inventories	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: December 31, Millions of dollars 2024 2023 Finished products and parts $ 1,956 $ 2,069 Raw materials and supplies 952 1,021 Work in process 132 136 Total inventories $ 3,040 $ 3,226 All amounts in the table above are reported net of obsolescence reserves of $62 million at December 31, 2024 and $81 million at December 31, 2023. During the years ended December 31, 2024 and 2023, there were no impairments charges related to inventory.

Property, Plant, and Equipment

Property, Plant, and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment were composed of the following: December 31, Millions of dollars 2024 2023 Land $ 119 $ 119 Buildings and property improvements 1,751 1,724 Machinery, equipment, and other 15,704 15,121 Total property, plant, and equipment 17,574 16,964 Accumulated depreciation (12,461) (12,064) Net property, plant, and equipment $ 5,113 $ 4,900 During the years ended December 31, 2024 and 2023, no impairment charges were recorded on property, plant, and equipment. Classes of assets are depreciated over the following useful lives: Buildings and Property 2024 2023 1 - 10 years 17% 16% 11 - 20 years 40% 40% 21 - 30 years 26% 26% 31 - 40 years 17% 18% Machinery, Equipment, 2024 2023 1 - 5 years 46% 47% 6 - 10 years 45% 43% 11 - 20 years 9% 10%

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Our long-term total debt consisted of the following: December 31, Millions of dollars 2024 2023 5.0% senior notes due November 2045 $ 1,887 $ 1,911 2.92% senior notes due March 2030 1,000 1,000 4.85% senior notes due November 2035 997 1,000 7.45% senior notes due September 2039 938 946 4.75% senior notes due August 2043 846 879 6.7% senior notes due September 2038 763 763 4.5% senior notes due November 2041 469 500 7.6% senior debentures due August 2096 226 228 6.75% notes due February 2027 90 90 3.8% senior notes due November 2025 — 382 Other 6 5 Unamortized debt issuance costs and discounts (62) (68) Total long-term debt $ 7,160 $ 7,636 Short-term borrowings and current maturities of long-term debt, net 381 — Total debt $ 7,541 $ 7,636 There were no short-term borrowings and $381 million of current maturities of long-term debt as of December 31, 2024. There were no short-term borrowings or current maturities of long-term debt as of December 31, 2023. Senior debt We may redeem all of our senior notes from time to time or all of the notes of each series at any time at the applicable redemption prices, plus accrued and unpaid interest. Our 6.75% notes due February 2027 and 7.6% senior debentures due August 2096 may not be redeemed prior to maturity. Repurchases of senior debt Our total debt repurchases consisted of the following: December 31, Millions of dollars 2024 2023 4.75% senior notes due August 2043 $ 32 $ 21 4.5% senior notes due November 2041 31 — 5.0% senior notes due November 2045 24 90 7.45% senior notes due September 2039 8 54 4.85% senior notes due November 2035 3 — 7.6% senior debentures due August 2096 2 66 6.7% senior notes due September 2038 — 37 3.8% senior notes due November 2025 — 18 6.75% notes due February 2027 — 14 Total Repurchases $ 100 $ 300 We used cash on hand to fund these repurchases, which included the principal amount, a net premium or discount, and accrued interest. The remaining principal balance of these instruments of $6.6 billion in the aggregate remains outstanding as of December 31, 2024. Redemption of 3.8% senior notes due November 2025 redemption In February of 2022, we redeemed $600 million aggregate principal amount of our 3.8% senior notes due in November 2025. The early redemption of the notes resulted in a loss of $42 million, consisting of premiums and unamortized expenses. The loss is included in “Loss on early extinguishment of debt” in our consolidated statements of operations for the year ended December 31, 2022. We used cash on hand to fund the aggregate redemption price of the notes in the amount of $641 million, which included the principal amount, the make-whole premium, and accrued interest. The remaining $382 million aggregate principal amount of our 3.8% senior notes remains outstanding. Revolving credit facilities We have a revolving credit facility with a capacity of $3.5 billion, which expires in April 2027. The facility is for general working capital purposes. The full amount of the revolving credit facility was available as of December 31, 2024. Debt maturities Our debt matures as follows: $381 million in 2025, no amounts in 2026, $90 million in 2027, no amounts in 2028, or 2029, and the remainder thereafter.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various legal or governmental proceedings, claims or investigations, including personal injury, property damage, environmental, intellectual property, commercial, tax, and other matters arising in the ordinary course of business, the resolution of which, in the opinion of management, will not have a material adverse effect on our consolidated results of operations or consolidated financial position. There is inherent risk in any legal or governmental proceeding, claim or investigation, and no assurance can be given as to the outcome of these proceedings. Guarantee arrangements In the normal course of business, we have in place agreements with financial institutions under which approximately $2.8 billion of letters of credit, bank guarantees, or surety bonds were outstanding as of December 31, 2024. Some of the outstanding letters of credit have triggering events that would entitle a bank to require cash collateralization. None of these off-balance sheet arrangements either has, or is likely to have, a material effect on our consolidated financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of the (provision) benefit for income taxes on continuing operations were as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Current income taxes: Federal $ 10 $ (21) $ (17) Foreign (571) (472) (417) State (9) (12) (11) Total current income taxes (570) (505) (445) Deferred income taxes: Federal (167) (123) (159) Foreign 31 (59) 103 State (12) (14) (14) Total deferred income taxes (148) (196) (70) Income tax provision $ (718) $ (701) $ (515) The United States and foreign components of income from continuing operations before income taxes were as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 United States $ 1,695 $ 1,666 $ 992 Foreign 1,539 1,697 1,118 Total income from continuing operations before income taxes $ 3,234 $ 3,363 $ 2,110 Reconciliations between the actual (provision) benefit for income taxes on continuing operations and that computed by applying the United States statutory rate to income from continuing operations before income taxes were as follows: Year Ended December 31, 2024 2023 2022 United States statutory rate 21.0 % 21.0 % 21.0 % Valuation allowance against tax assets (2.1) 0.8 (2.9) Impact of foreign income taxed at different rates 4.7 0.2 3.0 State income taxes 0.6 0.7 0.8 Impact of impairments and other charges 0.6 0.6 0.7 Adjustments of prior year taxes (2.5) (1.3) 0.2 Other items, net (0.1) (1.2) 1.6 Total effective tax rate on continuing operations 22.2 % 20.8 % 24.4 % During the year ended December 31, 2024, we recorded a total income tax provision of $718 million on pre-tax income of $3.2 billion, resulting in an effective tax rate of 22.2%. The effective tax rate for 2024 was primarily impacted by our geographic mix of earnings, tax adjustments related to the reassessment of prior year tax accruals, and changes of valuation allowance on some of our deferred tax assets. During the year ended December 31, 2023, we recorded a total income tax provision of $701 million on pre-tax income of $3.4 billion, resulting in an effective tax rate of 20.8%. The effective tax rate for 2023 was primarily impacted by our geographic mix of earnings, tax adjustments related to the reassessment of prior year tax accruals, and valuation allowances on some of our deferred tax assets. During the year ended December 31, 2022, we recorded a total income tax provision of $515 million on pre-tax income of $2.1 billion, resulting in an effective tax rate of 24.4%. The effective tax rate for 2022 was primarily impacted by our geographic mix of earnings, tax adjustments related to the reassessment of prior year tax accruals, and valuation allowances on some of our deferred tax assets. The primary components of our deferred tax assets and liabilities were as follows: December 31, Millions of dollars 2024 2023 Gross deferred tax assets: Foreign tax credit carryforwards $ 950 $ 902 Intangible assets 727 789 Net operating loss carryforwards 581 663 Accrued liabilities 227 293 Research and development tax credit carryforwards 85 173 Employee compensation and benefits 170 193 Other 639 579 Total gross deferred tax assets 3,379 3,592 Gross deferred tax liabilities: Operating lease right-of-use assets 144 189 Depreciation and amortization 164 115 Other 50 51 Total gross deferred tax liabilities 358 355 Valuation allowances 718 761 Net deferred income tax asset $ 2,303 $ 2,476 At December 31, 2024, we had $591 million of domestic and foreign tax-effected net operating loss carryforwards, with approximately $10 million estimated to be utilized against our unrecognized tax benefits. In addition, we had approximately $957 million of foreign tax credit carryforwards which are offset by $7 million of foreign branch deferred activity and unrecognized tax benefits reflected in the table above. The ultimate realization of these deferred tax assets depends on our ability to generate sufficient taxable income in the appropriate taxing jurisdiction. Our deferred tax assets from net operating losses, foreign tax credits, and research and development credits will expire as follows: Millions of dollars U.S. Net Operating Loss Foreign Net Operating Loss Foreign Tax Credits Research and Development Credit Total Deferred Tax Assets 2025-2029 $ 3 $ 126 $ 642 $ — $ 771 2030-2034 8 5 315 — 328 2035-2044 23 68 — 84 175 Non-Expiring 13 345 — — 358 $ 47 $ 544 $ 957 $ 84 $ 1,632 We have not provided incremental United States income taxes or foreign withholding taxes on undistributed foreign subsidiaries’ earnings after December 31, 2017. We generally do not provide for taxes related to undistributed earnings because such earnings either would not be taxable when remitted or they are considered to be indefinitely reinvested. The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties. Millions of dollars Unrecognized Tax Benefits Interest Balance at January 1, 2022 $ 352 $ 72 Change in prior year tax positions (36) (5) Change in current year tax positions 13 2 Cash settlements with taxing authorities (6) (2) Lapse of statute of limitations (12) (3) Balance at December 31, 2022 $ 311 (a) $ 64 Change in prior year tax positions (38) (10) Change in current year tax positions 8 1 Cash settlements with taxing authorities (4) (3) Lapse of statute of limitations (9) (3) Balance at December 31, 2023 $ 268 (a) $ 49 Change in prior year tax positions (68) — Change in current year tax positions 10 1 Cash settlements with taxing authorities (1) (1) Lapse of statute of limitations (13) (4) Balance at December 31, 2024 $ 196 (a)(b) $ 45 (a) Includes $40 million as of December 31, 2024, $43 million as of December 31, 2023, and $51 million as of December 31, 2022 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2024, December 31, 2023, and December 31, 2022, a net $137 million, $192 million and $208 million after a net operating loss carryforward offset, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor. (b) Includes $64 million as of December 31, 2024 that we believe could be resolved within the next 12 months. Our tax returns are subject to review by the taxing authorities in the jurisdictions where we file tax returns. In most cases we are no longer subject to examination by tax authorities for years before 2013. The only significant operating jurisdiction that has tax filings under review or subject to examination by the tax authorities is the United States. The United States federal income tax filings for tax years 2016 through 2023 are currently under review or remain open for review by the IRS. As of December 31, 2024, the primary unresolved issue for the IRS audit for 2016 relates to the classification of the $3.5 billion ordinary deduction that we claimed for the termination fee we paid to Baker Hughes in the second quarter of 2016 for which we received a NOPA from the IRS on September 28, 2023. We regularly assess the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of our tax reserves, and we believe our income tax reserves are appropriately provided for all open tax years. We do not expect a final resolution of this issue in the next 12 months. Based on the information currently available, we do not anticipate a significant increase or decrease to our tax contingencies within the next 12 months. In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures,

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Shares of common stock The following table summarizes total shares of common stock outstanding: December 31, Millions of shares 2024 2023 Issued 1,065 1,065 In treasury (197) (176) Total shares of common stock outstanding 868 889 Our Board of Directors has authorized a program to repurchase a specified dollar amount of our common stock from time to time. The program does not require a specific number of shares to be purchased and the program may be effected through solicited or unsolicited transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time. We purchased 30.5 million shares of our common stock under the program during the year ended December 31, 2024. During the year ended December 31, 2023, we purchased 22.7 million shares of our common stock under the program. Approximately $3.0 billion remained authorized for repurchases as of December 31, 2024. From the inception of this program in February 2006 through December 31, 2024, we repurchased approximately 284 million shares of our common stock for a total cost of approximately $11.1 billion. Paid-in Capital in Excess of Par Value During 2024, 2023 and 2022, we issued common stock from treasury shares under our employee stock purchase plan awards and for restricted stock grants. As a result, additional paid in capital would have resulted in a balance below zero. Therefore, for the years ended December 31, 2024, 2023 and 2022, we reduced retained earnings by $105 million, $98 million, and $275 million, respectively. Additional issuances from treasury shares could similarly impact additional paid in capital and retained earnings. Preferred stock Our preferred stock consists of five million total authorized shares at December 31, 2024, of which none are issued. Accumulated other comprehensive loss Accumulated other comprehensive loss consisted of the following: December 31, Millions of dollars 2024 2023 Cumulative translation adjustment $ (82) $ (84) Defined benefit and other postretirement liability adjustments (a) (234) (207) Other (37) (40) Total accumulated other comprehensive loss $ (353) $ (331) (a) Included net actuarial losses for our international pension plans of $233 million at December 31, 2024 and $209 million at December 31, 2023.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based Compensation	Stock-based Compensation The following table summarizes stock-based compensation costs for the years ended December 31, 2024, 2023, and 2022. . Year Ended December 31, Millions of dollars 2024 2023 2022 Stock-based compensation cost $ 223 $ 219 $ 219 Tax benefit (38) (36) (33) Stock-based compensation cost, net of tax $ 185 $ 183 $ 186 Our Stock and Incentive Plan, as amended (Stock Plan), provides for the grant of any or all of the following types of stock-based awards: - stock options, including incentive stock options and nonqualified stock options; - restricted stock awards; - restricted stock unit awards; - stock appreciation rights; and - stock value equivalent awards. There are currently no stock appreciation rights, stock value equivalent awards, or incentive stock options outstanding. Under the terms of the Stock Plan, approximately 284 million shares of common stock have been reserved for issuance to employees and non-employee directors. At December 31, 2024, approximately 23 million shares were available for future grants under the Stock Plan. The stock to be offered pursuant to the grant of an award under the Stock Plan may be authorized but unissued common shares or treasury shares. In addition to the provisions of the Stock Plan, we also have stock-based compensation provisions under the Restricted Stock Plan for Non-Employee Directors and the Employee Stock Purchase Plan (ESPP). Each of the active stock-based compensation arrangements is discussed below. Stock options There were no stock options granted during 2024 and there are no plans to grant stock options in 2025. All stock options under the Stock Plan were granted at the fair market value of our common stock at the grant date. Employee stock options generally vest ratably over a period of three years and expire ten years from the grant date. Compensation expense for stock options is generally recognized on a straight line basis over the entire vesting period. The following table represents our stock options activity during 2024. Number Weighted Weighted Aggregate Outstanding at January 1, 2024 14.3 $ 45.47 Exercised (0.3) 26.89 Forfeited/expired (3.6) 58.04 Outstanding at December 31, 2024 10.4 $ 41.75 2.4 $ 4.0 Exercisable at December 31, 2024 10.4 $ 41.75 2.4 $ 4.0 The total intrinsic value of options exercised was $3 million in 2024, $20 million in 2023, and $43 million in 2022. As of December 31, 2024, there was no unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock options. Cash received from issuance of common stock for 2024, 2023, and 2022 was $105 million, $136 million, and $229 million, respectively, of which $9 million, $48 million, and $148 million, respectively, are related to proceeds from exercises of stock options. All other cash received from issuance of common stock during 2024, 2023 and 2022 relates to cash proceeds from the issuance of shares under our employee stock purchase plan. The fair value of options at the date of grant was estimated using the Black-Scholes option pricing model. The expected volatility of options granted was a blended rate based upon implied volatility calculated on actively traded options on our common stock and upon the historical volatility of our common stock. The expected term of options granted was based upon historical observation of actual time elapsed between date of grant and exercise of options for all employees. There were no stock options granted for the years ended December 31, 2024, 2023 and 2022. Restricted stock Restricted shares issued under the Stock Plan are restricted as to sale or disposition. These restrictions generally lapse periodically over a period of five years. Restrictions may also lapse for early retirement and other conditions in accordance with our established policies. Upon termination of employment, shares on which restrictions have not lapsed must be returned to us, resulting in restricted stock forfeitures. The fair market value of the stock on the date of grant is amortized and charged to income on a straight-line basis over the requisite service period for the entire award. In 2024, we also granted performance based restricted stock units, with the actual number of shares earned to be determined at the end of a three year performance period based on our achievement of certain predefined targets. These targets are based upon our average return on capital employed as compared to certain competitors and a modifier based upon stock performance compared to the Oilfield Services Index (OSX). A Monte Carlo simulation that uses a probabilistic approach was performed by an actuary to measure grant date fair value. The fair value of these performance based restricted stock units is recognized on a straight-line basis over the three year performance cycle. The following table represents our restricted stock awards and restricted stock units granted, vested, and forfeited during 2024. . Number of Shares Weighted Average Nonvested shares at January 1, 2024 20.9 $ 27.42 Granted 7.3 36.76 Vested (7.7) 25.10 Forfeited (1.0) 29.30 Nonvested shares at December 31, 2024 19.5 $ 31.64 The weighted average grant-date fair value of shares granted was $36.76 during 2024, $31.73 during 2023, and $31.40 during 2022. The total fair value of shares vested was $263 million during 2024, $283 million during 2023, and $248 million during 2022. As of December 31, 2024, there was $410 million of unrecognized compensation cost, net of estimated forfeitures, related to nonvested restricted stock, which is expected to be recognized over a weighted average period of three years. Employee Stock Purchase Plan Under the ESPP, eligible employees may have up to 10% of their earnings withheld, subject to some limitations, to be used to purchase shares of our common stock. The ESPP contains four three-month offering periods commencing on January 1, April 1, July 1, and October 1 of each year. The price at which common stock may be purchased under the ESPP in 2022, 2023, and 2024 is equal to 90% of the lower of the fair market value of the common stock on the commencement date or last trading day of each offering period. Under the ESPP, 104 million shares of common stock have been reserved for issuance, of which 79 million shares have been sold through the ESPP since the inception of the plan through December 31, 2024 and 25 million shares are available for future issuance. The stock to be offered may be authorized but unissued common shares or treasury shares. The fair value of ESPP shares was estimated using the Black-Scholes option pricing model. The expected volatility was a one-year historical volatility of our common stock. The assumptions and resulting fair values were as follows: Year Ended December 31, 2024 2023 2022 Expected volatility 30 % 48 % 46 % Expected dividend yield 2.00 % 1.44 % 1.67 % Risk-free interest rate 5.24 % 5.11 % 1.42 % Weighted average grant-date fair value per share $ 5.60 $ 7.16 $ 5.63

Income per Share

Income per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Income per Share	Income per Share Basic income or loss per share is based on the weighted average number of common shares outstanding during the period. Diluted income per share includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted income or loss per share as their impact was antidilutive. A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows: Year Ended December 31, Millions of shares 2024 2023 2022 Basic weighted average common shares outstanding 882 899 904 Dilutive effect of awards granted under our stock incentive plans 1 3 4 Diluted weighted average common shares outstanding 883 902 908 Antidilutive shares: Options with exercise price greater than the average market price 10 12 15 Total antidilutive shares 10 12 15

Financial Instruments and Risk

Financial Instruments and Risk Management	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Risk Management	Financial Instruments and Risk Management The carrying amount of cash and equivalents, receivables, and accounts payable, as reflected in the consolidated balance sheets, approximates fair value due to the short maturities of these instruments. The carrying amount and fair value of our total debt is as follows: December 31, 2024 December 31, 2023 Millions of dollars Level 1 Level 2 Total fair value Carrying value Level 1 Level 2 Total fair value Carrying value Total debt $ 4,503 $ 2,825 $ 7,328 $ 7,541 $ 7,419 $ 378 $ 7,797 $ 7,636 The total fair value of our debt decreased during 2024 primarily as a result of higher bond yields and $100 million in debt repurchases, as discussed in Notes to Consolidated Financial Statements, Note 10. Our debt categorized within level 1 on the fair value hierarchy is calculated using quoted prices in active markets for identical liabilities with transactions occurring on the last two days of period-end. Our debt categorized within level 2 on the fair value hierarchy is calculated using significant observable inputs for similar liabilities where estimated values are determined from observable data points on our other bonds and on other similarly rated corporate debt or from observable data points of transactions occurring prior to two days from period-end and adjusting for changes in market conditions. Differences between the periods presented in our level 1 and level 2 classification of our long-term debt relate to the timing of when third party market transactions on our debt are executed. We have no debt categorized within level 3 on the fair value hierarchy. We are exposed to market risk from changes in foreign currency exchange rates, interest rates, and credit risk. We selectively manage these exposures through the use of derivative instruments, including forward foreign exchange contracts, foreign exchange options, interest rate swaps, and CDS’s. The objective of our risk management strategy is to minimize the volatility from fluctuations in foreign currency and interest rates. We do not use derivative instruments for trading purposes. The fair value of our forward contracts, options, and CDS’s was not material as of December 31, 2024 or December 31, 2023. The counterparties to our derivatives are primarily global commercial and investment banks. Foreign currency exchange risk We have operations in many international locations and are involved in transactions denominated in currencies other than the U.S. dollar, our functional currency, which exposes us to foreign currency exchange rate risk. Techniques in managing foreign currency exchange risk include, but are not limited to, foreign currency borrowing and investing, and the use of currency exchange instruments. We attempt to selectively manage significant exposures to potential foreign currency exchange losses based on current market conditions, future operating activities, and the associated cost in relation to the perceived risk of loss. The purpose of our foreign currency risk management activities is to minimize the risk that our cash flows from the purchase and sale of products and services in foreign currencies will be adversely affected by changes in exchange rates. We use forward contracts and options to manage our exposure to fluctuations in the currencies of certain countries in which we do business internationally. These instruments are not treated as hedges for accounting purposes, generally have an expiration date of one year or less, and are not exchange traded. While these instruments are subject to fluctuations in value, the fluctuations are generally offset by the value of the underlying exposures being managed. The use of some of these instruments may limit our ability to benefit from favorable fluctuations in foreign currency exchange rates. Derivatives are not utilized to manage exposures in some currencies due primarily to the lack of available markets, cost considerations, or immaterial exposures (non-hedged currencies). We attempt to minimize foreign currency exposure in non-hedged currencies and recognize that pricing for the services and products offered in these countries should account for the cost of exchange rate devaluations. The notional amounts of open foreign exchange derivatives were $781 million at December 31, 2024 and $715 million at December 31, 2023. The notional amounts of these instruments do not generally represent amounts exchanged by the parties, and thus are not a measure of our exposure or of the cash requirements related to these contracts. The fair value of our foreign exchange derivatives as of December 31, 2024 and December 31, 2023 is included in both “Other current assets” and in “Other current liabilities” in our consolidated balance sheets and was immaterial. The fair value of these instruments is categorized within level 2 on the fair value hierarchy and was determined using a market approach with certain inputs, such as notional amounts hedged, exchange rates, and other terms of the contracts that are observable in the market or can be derived from or corroborated by observable data. Interest rate risk We are subject to interest rate risk on our debt and investment portfolios. We had fixed rate long-term debt totaling $7.2 billion at December 31, 2024 and $7.6 billion at December 31, 2023. We maintain an interest rate management strategy that is intended to mitigate the exposure to changes in interest rates. As of December 31, 2024 and December 31, 2023, we did not have any interest rate swaps outstanding. Credit risk Financial instruments that potentially subject us to concentrations of credit risk are primarily cash equivalents and net trade receivables. It is our practice to place our cash equivalents in high quality investments with various institutions. Our net trade receivables are from a broad and diverse group of customers and are generally not collateralized. As of December 31, 2024, 30% of our net trade receivables were from customers in the United States and 11% were from customers in Mexico. As of December 31, 2023, 33% of our net trade receivables were from customers in the United States and 9% were from customers in Mexico. We maintain an allowance for credit losses based upon several factors, including historical collection experience, current aging status of the customer accounts and financial condition of our customers. See Notes to Consolidated Financial Statements, Note 5 for further information on receivables. We have entered into CDSs with third-party financial institutions that had an aggregate notional amount outstanding as of December 31, 2024 of $739 million related to borrowings provided by the financial institutions to one of our primary customers in Mexico, of which a portion of the proceeds were then utilized by this customer to pay certain of our outstanding receivables. Approximately $186 million of the outstanding amount of the CDSs reduces on a monthly basis over its remaining 14-month term and $203 million reduces on a monthly basis over its remaining 18-month term. The remaining $350 million outstanding amount is expected to increase to as much as $805 million in the first quarter of 2025 and will reduce over its remaining 19-month term beginning February 2025. The fair value of these derivative liabilities was not material at December 31, 2024. We do not have any significant concentrations of credit risk with any individual counterparty to our derivative contracts. We select counterparties to those contracts based on our belief that each counterparty’s profitability, balance sheet, and capacity for timely payment of financial commitments is unlikely to be materially adversely affected by foreseeable events.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans Our company and subsidiaries have various plans that cover a significant number of our employees. These plans include defined contribution plans, defined benefit plans, and other postretirement plans: - Our defined contribution plans provide retirement benefits in return for services rendered. These plans provide an individual account for each participant and have terms that specify how contributions to the participant’s account are to be determined rather than the amount of pension benefits the participant is to receive. Contributions to these plans are based on a percentage of pre-tax income, after-tax income, or discretionary amounts determined on an annual basis. Our expense for the defined contribution plans totaled $182 million in 2024, $181 million in 2023, and $160 million in 2022. The increase in expense from 2023 to 2024 was due to headcount and salary increase for the year ended December 31, 2024. The increase in expense from 2022 to 2023 was also due to headcount and salary increase. - Our defined benefit plans, which include both overfunded and underfunded pension plans, define an amount of pension benefit to be provided, usually as a function of age, years of service and/or compensation. The underfunded obligations and net periodic benefit cost of our United States defined benefit plans were not material for the periods presented. - Our postretirement plans other than pensions are offered to specific eligible employees. The accumulated benefit obligations and net periodic benefit cost for these plans were not material for the periods presented. - In 2024, an annuity purchase transaction, commonly known as a ‘buy-in’, was executed for the pension plan in the United Kingdom. The buy-in agreement was secured by paying a premium of approximately $590 million from plan assets. Under the terms of the insurance contract, which were issued by a third-party insurance company with no affiliation to the Company, all pension obligations will be funded by the insurer’s annuity payments. However, the plan retains full legal responsibility to pay the benefits to plan participants using the insurance payments. As the plan maintains full legal responsibility, and the insurance contract is considered an asset of the plan, settlement accounting has not been applied. Funded status For our international pension plans, at December 31, 2024, the projected benefit obligation was $773 million and the fair value of plan assets was $594 million, which resulted in an underfunded obligation of $179 million. At December 31, 2023, the projected benefit obligation was $745 million and the fair value of plan assets was $622 million, which resulted in an underfunded obligation of $123 million. The accumulated benefit obligation for our international plans was $694 million at December 31, 2024 and $672 million at December 31, 2023. The increase in projected benefit obligation and accumulated benefit obligation from 2023 to 2024 was due to assumption changes, mainly a decrease in discount rate. The following table presents additional information about our international pension plans. December 31, Millions of dollars 2024 2023 Amounts recognized on the Consolidated Balance Sheets Other assets $ 11 $ 39 Accrued employee compensation and benefits 11 10 Employee compensation and benefits 177 154 Pension plans in which projected benefit obligation exceeded plan assets Projected benefit obligation $ 200 $ 179 Fair value of plan assets 12 15 Pension plans in which accumulated benefit obligation exceeded plan assets Accumulated benefit obligation $ 122 $ 106 Fair value of plan assets 12 15 Fair value measurements of plan assets The fair value of our plan assets categorized within level 1 on the fair value hierarchy is based on quoted prices in active markets for identical assets. The fair value of our plan assets categorized within level 2 on the fair value hierarchy is based on significant observable inputs for similar assets. The fair value of our plan assets categorized within level 3 on the fair value hierarchy is based on significant unobservable inputs. The following table sets forth the fair values of assets held by our international pension plans by level within the fair value hierarchy. Millions of dollars Level 1 Level 2 Level 3 Net Asset Value (a) Total Cash and equivalents $ — $ — $ — $ — $ — Bond funds (b) — 11 — — 11 Real estate funds (c) — — — 8 8 Other investments (d) 1 9 565 — 575 Fair value of plan assets at December 31, 2024 $ 1 $ 20 $ 565 $ 8 $ 594 Cash and equivalents $ 29 $ 234 $ — $ — $ 263 Bond funds (e) — 159 — 156 315 Real estate funds (c) — — — 30 30 Other investments (d) 1 11 2 — 14 Fair value of plan assets at December 31, 2023 $ 30 $ 404 $ 2 $ 186 $ 622 (a) Represents investments measured at fair value using the Net Asset Value (NAV) per share practical expedient and thus has not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of our international pension plans assets. (b) Strategy of bond funds is to invest in fixed income securities meeting certain ratings thresholds focused on mitigating interest rate risk and protecting funded status. (c) Strategy of real estate funds is to invest in diversified funds of real estate investment trusts and private real estate. (d) Other investments consist of insurance contracts, a buy-in annuity insurance contract, balanced funds, and government bonds. The fair value of the buy-in annuity insurance contract is determined using the quote provided by an insurance company, reflecting prevailing market conditions for similar transactions. (e) Strategy of bond funds is to invest in diversified funds of fixed income securities of varying geographies and credit quality. Level 3 Rollforward The following presents our Level 3 Rollforward for buy-in annuity insurance contract for 2024. Level 3 assets in 2023 were immaterial. Millions of dollars 2024 Balance at the beginning of the year $ 2 Purchase of insurance contract 590 Return on assets (18) Payment from the insurance policy (9) Balance at the end of the year $ 565 Risk management practices for these plans include diversification by issuer, industry, and geography, where permitted, as well as by asset classes and investment managers. Our United Kingdom pension plan, which constituted 73% of our international pension plans’ projected benefit obligation on December 31, 2024, is no longer accruing service benefits and completed a pension buy-in transaction during 2024 entering into a bulk annuity contract with an insurance company. The bulk annuity contract effectively covers all benefit payments to members. The investments backing the contract are invested at the discretion of the insurance company, which assumes the investment risk associated with these assets. Net periodic benefit cost Net periodic benefit cost for our international pension plans was $43 million in 2024, $32 million in 2023, and $14 million in 2022. Actuarial assumptions Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension plans at December 31 were as follows: 2024 2023 Discount rate 5.3% 5.1% Rate of compensation increase 4.9% 5.6% Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international pension plans for the years ended December 31 were as follows: 2024 2023 2022 Discount rate 5.1% 5.6% 2.3% Expected long-term return on plan assets 4.0% 3.8% 3.0% Rate of compensation increase 2.9% 5.4% 5.3% Assumed long-term rates of return on plan assets, discount rates for estimating benefit obligations, and rates of compensation increases vary by plan according to local economic conditions. Where possible, discount rates were determined based on the prevailing market rates of a portfolio of high-quality debt instruments with maturities matching the expected timing of the payment of the benefit obligations. Expected long-term rates of return on plan assets were determined based upon an evaluation of our plan assets and historical trends and experience, taking into account current and expected market conditions. Other information Contributions. Funding requirements for each plan are determined based on the local laws of the country where such plan resides. In certain countries the funding requirements are mandatory, while in other countries they are discretionary. We currently expect to contribute $1 million to our international pension plans in 2025. Benefit payments. Expected benefit payments over the next 10 years for our international pension plans are as follows: $38 million in 2025, $32 million in 2026, $34 million in 2027, $37 million in 2028, $37 million in 2029, and an aggregate $225 million in years 2030 through 2034.

Payables and Accruals

Payables and Accruals	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure	Accounts Payable We have agreements with third parties that allow our participating suppliers to finance payment obligations from us with designated third-party financial institutions who act as our paying agent. We have generally extended our payment terms with suppliers to 90 days. A participating supplier may request a participating financial institution to finance one or more of our payment obligations to such supplier prior to the scheduled due date thereof at a discounted price. We are not required to provide collateral to the financial institutions. Our obligations to participating suppliers, including amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to finance amounts due under these financing arrangements. Our outstanding payment obligations under these agreements were $317 million as of December 31, 2024, and $322 million as of December 31, 2023, and are included in accounts payable The following table presents a rollforward of our supplier finance program obligations: December 31, Millions of dollars 2024 2023 Confirmed obligations outstanding at the beginning of the year $ 322 $ 273 Invoices confirmed during the year 1,217 1,257 Confirmed invoices paid during the year (1,222) (1,208) Confirmed obligations outstanding at the end of the year $ 317 $ 322

Comprehensive Text Block List

Comprehensive Text Block List	12 Months Ended
	Dec. 31, 2024
Text Block [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 (Subtopic 220-40), “Disaggregation of Income Statement Expenses” (DISE), which requires additional disclosure of certain expense captions presented on the face of the Company’s income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for the Company’s annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and should be applied on a prospective or retrospective basis, with early adoption permitted. We are currently evaluating the effect that adoption of ASU 2024-03 will have on our disclosures.

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) attributable to company	$ 2,501	$ 2,638	$ 1,572

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Reporting Officer Title Reporting Action Plan Adoption Date Plan End Date Aggregated Shares Covered Intended to Satisfy Rule 10b5-1? Eric J. Carre Executive Vice President and Chief Financial Officer Plan Adoption 11/12/2024 11/11/2025 348,344 Yes Van H. Beckwith Executive Vice President, Secretary and Chief Legal Officer Plan Adoption 11/12/2024 11/11/2025 267,681 Yes Lawrence J. Pope Executive Vice President of Administration and Chief Human Resources Officer Plan Adoption 11/13/2024 11/11/2025 144,500 Yes Mark J. Richard President - Western Hemisphere Plan Adoption 11/12/2024 11/11/2025 105,186 Yes Shannon Slocum President - Eastern Hemisphere Plan Adoption 11/12/2024 11/11/2025 80,828 Yes Timothy M. McKeon Senior Vice President and Treasurer Plan Adoption 11/12/2024 11/11/2025 47,240 Yes Charles E. Geer, Jr. Senior Vice President and Chief Accounting Officer Plan Adoption 11/12/2024 11/11/2025 38,700 Yes Jill D. Sharp Senior Vice President, Internal Assurance Services Plan Adoption 11/12/2024 11/11/2025 30,930 Yes
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Eric J. Carre [Member]
Trading Arrangements, by Individual
Name	Eric J. Carre
Title	Executive Vice President and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	348,344	348,344
VHB [Member]
Trading Arrangements, by Individual
Name	Van H. Beckwith
Title	Executive Vice President, Secretary and Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	267,681	267,681
Lawrence J. Pope [Member]
Trading Arrangements, by Individual
Name	Lawrence J. Pope
Title	Executive Vice President of Administration and Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/13/2024
Expiration Date	11/11/2025
Arrangement Duration	363 days
Aggregate Available	144,500	144,500
Mark J. Richard [Member]
Trading Arrangements, by Individual
Name	Mark J. Richard
Title	President - Western Hemisphere
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	105,186	105,186
Shannon Slocum [Member]
Trading Arrangements, by Individual
Name	Shannon Slocum
Title	President - Eastern Hemisphere
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	80,828	80,828
Timothy M. McKeon [Member]
Trading Arrangements, by Individual
Name	Timothy M. McKeon
Title	Senior Vice President and Treasurer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	47,240	47,240
Charles E. Geer, Jr. [Member]
Trading Arrangements, by Individual
Name	Charles E. Geer, Jr.
Title	Senior Vice President and Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	38,700	38,700
Jill D. Sharp [Member]
Trading Arrangements, by Individual
Name	Jill D. Sharp
Title	Senior Vice President, Internal Assurance Services
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/12/2024
Expiration Date	11/11/2025
Arrangement Duration	364 days
Aggregate Available	30,930	30,930

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	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]	We maintain a cyber risk management program designed to identify, assess, manage, mitigate, and respond to cybersecurity threats. An analysis of the impact, likelihood, and management preparedness of cybersecurity threats to our strategic priorities is integrated into our enterprise risk management program and enterprise risk assessment process. This provides cross-functional and geographical visibility, as well as executive leadership oversight, to address and mitigate associated risks. We engage our internal information technology (IT) audit group to audit our information security programs, and the results are reported to our executive management and the Audit Committee of our Board of Directors. We also engage third party firms to identify, assess, and manage cybersecurity risks in alignment with cybersecurity standards, such as the National Institute of Standards and Technology (NIST) Cyber Security Framework, NIST 800-53, NIST 800-82, and International Electrotechnical Commission 62443. In managing material risks from cybersecurity threats, we require that a security and technical architecture review is conducted for all new software and applications, and for all changes to the underlying information technology infrastructure that manages, processes, stores, or transmits our data or data of our customers, vendors, suppliers, joint ventures, or employees. Any deviations from our information security policies and standards are assessed by our Information Security Governance team. Any critical and high-risk levels that are identified are then documented and reported to relevant key stakeholders. Our policies and procedures also address the oversight, identification, and mitigation of cybersecurity risks associated with our use of third-party service providers. Our policy requires that all software vendors and IT related service providers submit to an IT security and governance review and obtain formal approval by our Information Security Governance team before it can be used.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We maintain a cyber risk management program designed to identify, assess, manage, mitigate, and respond to cybersecurity threats. An analysis of the impact, likelihood, and management preparedness of cybersecurity threats to our strategic priorities is integrated into our enterprise risk management program and enterprise risk assessment process.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	We have experienced cybersecurity incidents and attempted breaches in the past, one of which resulted in an unauthorized third party gaining access to certain of our systems and exfiltrating information from those systems, which we determined was a material event as previously disclosed in a Form 8-K we filed with the SEC on September 3, 2024
Cybersecurity Risk Board of Directors Oversight [Text Block]	Aside from more immediate reporting of material incidents to our Board of Directors as described above, our CISO provides our Board of Directors an update on cybersecurity during each of its quarterly meetings. This update includes data on certain cybersecurity metrics, information on internal and third-party cybersecurity incidents, and general discussion of cybersecurity risks. In addition, our Audit Committee receives a detailed update annually from the CIO and CISO, which includes in-depth updates on our cybersecurity program and strategy including cybersecurity risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	CISO provides our Board of Directors an update on cybersecurity during each of its quarterly meetings.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	This update includes data on certain cybersecurity metrics, information on internal and third-party cybersecurity incidents, and general discussion of cybersecurity risks. In addition, our Audit Committee receives a detailed update annually from the CIO and CISO, which includes in-depth updates on our cybersecurity program and strategy including cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block]	The CIO leads all components of our IT functions. Our CIO has over 20 years of experience with Halliburton and has had numerous global assignments across all areas of IT delivery, operations, and management. Our CISO, who reports directly to our Executive Vice President of Administration and Chief Human Resources Officer, has over 20 years of technology and cybersecurity experience across global enterprises, risk advisory, and incident response firms.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	We have an Incident Response Plan that defines and documents procedures for assessing, identifying, and managing a cybersecurity incident. In the event there is a cybersecurity incident, an Incident Response Team will assess the cybersecurity incident’s impact as the basis for assigning a preliminary severity rating. This team then provides the Chief Information Security Officer (CISO) with a summary and preliminary severity rating and the CISO subsequently notifies the Chief Information Officer (CIO) as appropriate. The CISO and CIO will assess situational information and business impact to finalize the severity rating. The CISO is then responsible for communicating incidents to other members of management as appropriate.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO has over 20 years of experience with Halliburton and has had numerous global assignments across all areas of IT delivery, operations, and management. Our CISO, who reports directly to our Executive Vice President of Administration and Chief Human Resources Officer, has over 20 years of technology and cybersecurity experience across global enterprises, risk advisory, and incident response firms.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	We have an Incident Response Plan that defines and documents procedures for assessing, identifying, and managing a cybersecurity incident. In the event there is a cybersecurity incident, an Incident Response Team will assess the cybersecurity incident’s impact as the basis for assigning a preliminary severity rating. This team then provides the Chief Information Security Officer (CISO) with a summary and preliminary severity rating and the CISO subsequently notifies the Chief Information Officer (CIO) as appropriate. The CISO and CIO will assess situational information and business impact to finalize the severity rating. The CISO is then responsible for communicating incidents to other members of management as appropriate
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Description of Company and Si_2

Description of Company and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of estimates	Use of estimates Our financial statements are prepared in conformity with United States generally accepted accounting principles, requiring us to make estimates and assumptions that affect: - the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and - the reported amounts of revenue and expenses during the reporting period. We believe the most significant estimates and assumptions are associated with the forecasting of our income tax (provision) benefit and the valuation of deferred taxes, long-lived asset valuations, and allowance for credit losses. Ultimate results could differ from our estimates.
Basis of presentation	Basis of presentation The consolidated financial statements include the accounts of our company and all of our subsidiaries that we control or variable interest entities for which we have determined that we are the primary beneficiary. All material intercompany accounts and transactions are eliminated. Investments in companies in which we do not have a controlling interest, but over which we do exercise significant influence, are accounted for using the equity method of accounting, unless we elect the fair value option. If we do not have significant influence and the investment has no readily determinable fair value, we elect the measurement alternative. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation.
Revenue recognition	Revenue recognition
Research and development	Research and development We maintain an active research and development program. The program improves products, processes, and engineering standards and practices that serve the changing needs of our customers. Research and development costs are expensed as incurred and were $426 million in 2024, $408 million in 2023, and $345 million in 2022.
Cash equivalents	Cash equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost represents invoice or production cost for new items and original cost. Production cost includes material, labor, and manufacturing overhead. Our inventory is recorded on the weighted average cost method. We regularly review inventory quantities on hand and record provisions for excess or obsolete inventory based primarily on historical usage, estimated product demand, and technological developments.
Allowance for bad debts	Allowance for credit losses We establish an allowance for credit losses through a review of several factors, including historical collection experience, current aging status of the customer accounts, and current financial condition of our customers. Losses are charged against the allowance when the customer accounts are determined to be uncollectible.
Property, plant and equipment	Property, plant, and equipment Other than those assets that have been written down to their fair values due to impairment, property, plant, and equipment are reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are often used for tax purposes, when permitted. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is recognized. Planned major maintenance costs are generally expensed as incurred. Expenditures for additions, modifications, and conversions are capitalized when they increase the value or extend the useful life of the asset.
Goodwill and other intangible assets	Goodwill and other intangible assets We record as goodwill the excess purchase price over the fair value of the tangible and identifiable intangible assets acquired in a business acquisition. Changes in the carrying amount of goodwill are detailed below by reportable segment. Millions of dollars Completion and Production Drilling and Evaluation Total Balance at December 31, 2022: $ 2,020 $ 809 $ 2,829 Current year acquisitions — 21 21 Other 12 (12) — Balance at December 31, 2023: $ 2,032 $ 818 $ 2,850 Current year acquisitions 8 — 8 Other (20) — (20) Balance at December 31, 2024: $ 2,020 $ 818 $ 2,838 The reported amounts of goodwill for each reporting unit are reviewed for impairment on an annual basis, during the third quarter, and more frequently when circumstances indicate an impairment may exist. As a result of our goodwill impairment assessments performed in the years ended December 31, 2024, 2023, and 2022, we determined that the fair value of each reporting unit exceeded its net book value and, therefore, no goodwill impairments were deemed necessary.
Finite-lived intangible assets	We amortize other identifiable intangible assets with a finite life on a straight-line basis over the period which the asset is expected to contribute to our future cash flows, ranging from one year to thirty years. The components of these other intangible assets generally consist of patents, license agreements, non-compete agreements, trademarks, and customer lists and contracts.
Impairment of long-lived assets	Evaluating impairment of long-lived assets
Income taxes	Income taxes We recognize the amount of taxes payable or refundable for the year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that we will realize the benefits of these deductible differences, net of the existing valuation allowances. We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes on continuing operations in our consolidated statements of operations.
Derivative instruments	Derivative instruments At times, we enter into derivative financial transactions to manage existing or projected exposures to changing foreign currency exchange rates, interest rates, and credit risk. We do not enter into derivative transactions for speculative or trading purposes. We recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value which are reflected within “Other, net” on our consolidated statements of operations. If the derivative is designated as a hedge, depending on the nature of the hedge, changes in the fair value of derivatives are either offset against: - the change in fair value of the hedged assets, liabilities, or firm commitments through earnings; or - recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is recognized in earnings. Recognized gains or losses on derivatives entered into to manage foreign currency exchange risk and credit risk are included in “Other, net” on the consolidated statements of operations. Gains or losses on interest rate derivatives are included in “Interest expense, net.”
Foreign currency translations	Foreign currency translation Foreign entities whose functional currency is the U.S. dollar translate monetary assets and liabilities at year-end exchange rates, and nonmonetary items are translated at historical rates. Revenue and expense transactions are translated at the average rates in effect during the year, except for those expenses associated with nonmonetary balance sheet accounts, which are translated at historical rates. Gains or losses from remeasurement of monetary assets and liabilities due to changes in exchange rates are recognized in our consolidated statements of operations in “Other, net” in the year of occurrence.
Stock-based compensation	Stock-based compensation

Revenue (Policies)

Revenue (Policies)	12 Months Ended
	Dec. 31, 2024
Revenue [Abstract]
Revenue recognition	Revenue recognition

Description of Company and Si_3

Description of Company and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill are detailed below by reportable segment. Millions of dollars Completion and Production Drilling and Evaluation Total Balance at December 31, 2022: $ 2,020 $ 809 $ 2,829 Current year acquisitions — 21 21 Other 12 (12) — Balance at December 31, 2023: $ 2,032 $ 818 $ 2,850 Current year acquisitions 8 — 8 Other (20) — (20) Balance at December 31, 2024: $ 2,020 $ 818 $ 2,838

Impairment and Other Charges (T

Impairment and Other Charges (Tables)	12 Months Ended
	Dec. 31, 2024
Impairments and Other Charges [Abstract]
Lessee, Operating and Finance Leases, Liability Maturity Table	The following table summarizes the maturity of our operating and finance leases as of December 31, 2024: Millions of dollars Operating Leases Finance Leases 2025 $ 317 $ 78 2026 232 75 2027 159 40 2028 101 19 2029 82 10 Thereafter 453 16 Total lease payments 1,344 238 Imputed interest (284) (68) Total lease payments, net of imputed interest $ 1,060 $ 170
Restructuring and Related Costs	The following table presents various pre-tax charges we recorded during the years ended December 31, 2024 and 2022 which are reflected within “Impairments and other charges” on our consolidated statements of operations. Year Ended December 31, Millions of dollars 2024 2023 2022 Severance costs $ 63 $ — $ — Impairment of assets held for sale 49 — — Cybersecurity 35 — — Gain on investment (43) — — Receivables — — 202 Long-lived asset impairments — — 100 Inventory costs and write-downs — — 70 Other 12 — (6) Total impairments and other charges $ 116 $ — $ 366

Business Segment and Geograph_2

Business Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Reconciliation of assets from segment to consolidated	December 31, Millions of dollars 2024 2023 Total assets: Completion and Production (a) $ 11,987 $ 11,606 Drilling and Evaluation (a) 7,806 7,532 Corporate and other (b) 5,794 5,545 Total assets $ 25,587 $ 24,683 (a) Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill. (b) Includes primarily cash and equivalents and deferred tax assets.
Schedule of revenue from external customers and long-lived assets, by geographical areas	Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue: North America $ 9,626 $ 10,492 $ 9,597 Latin America 4,211 3,987 3,197 Europe/Africa/CIS 3,003 2,861 2,691 Middle East/Asia 6,104 5,678 4,812 Total revenue $ 22,944 $ 23,018 $ 20,297 December 31, Millions of dollars 2024 2023 Net property, plant, and equipment: North America $ 2,595 $ 2,961 Latin America 1,002 527 Europe/Africa/CIS 593 444 Middle East/Asia 923 968 Total net property, plant, and equipment $ 5,113 $ 4,900
Information on business segments	The following tables present financial information on our business segments. Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue: Completion and Production $ 13,251 $ 13,689 $ 11,582 Drilling and Evaluation 9,693 9,329 8,715 Total revenue $ 22,944 $ 23,018 $ 20,297 Operating income: Completion and Production $ 2,709 $ 2,835 $ 2,037 Drilling and Evaluation 1,608 1,543 1,292 Total operations 4,317 4,378 3,329 Corporate and other (a) (255) (244) (256) SAP S4 upgrade expense (124) (51) — Impairments and other charges (b) (116) — (366) Total operating income $ 3,822 $ 4,083 $ 2,707 Interest expense, net of interest income $ (353) $ (395) $ (463) Loss on Blue Chip Swap transactions (8) (110) — Argentina currency impact — (131) (30) Loss on early extinguishment of debt — — (42) Other, net (227) (84) (62) Income before income taxes $ 3,234 $ 3,363 $ 2,110 Capital expenditures: Completion and Production $ 775 $ 765 $ 589 Drilling and Evaluation 665 613 420 Corporate and other 2 1 2 Total capital expenditures $ 1,442 $ 1,379 $ 1,011 Depreciation, depletion, and amortization: Completion and Production $ 588 $ 553 $ 520 Drilling and Evaluation 475 430 406 Corporate and other 16 15 14 Total depreciation, depletion, and amortization $ 1,079 $ 998 $ 940 (a) Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions. (b) Impairments and other charges are as follows: -For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other. -For the year ended December 31, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million net gain attributable to Corporate and other.
Summary of Significant Segment Expenses	The following table presents significant segment expenses, which represent the difference between segment revenue and segment operating income and are regularly reviewed by our CODM. 2024 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,428 $ 3,803 Compensation 1,922 1,865 Depreciation, depletion, and amortization 588 475 Other 2,604 1,942 Total segment operating expenses $ 10,542 $ 8,085 2023 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,906 $ 3,771 Compensation 1,810 1,750 Depreciation, depletion, and amortization 553 430 Other 2,585 1,835 Total segment operating expenses $ 10,854 $ 7,786 2022 Millions of dollars Completion and Production Drilling and Evaluation Cost of products, materials, and supplies $ 5,573 $ 3,293 Compensation 1,614 1,596 Depreciation, depletion, and amortization 520 406 Other 1,838 2,128 Total segment operating expenses $ 9,545 $ 7,423 Other segment operating expenses primarily consist of maintenance, overhead allocations, facilities cost, and other miscellaneous costs.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue [Abstract]
Disaggregation of Revenue	The following table presents information on our disaggregated revenue. Year Ended December 31, Millions of dollars 2024 2023 2022 Revenue by segment: Completion and Production $ 13,251 $ 13,689 $ 11,582 Drilling and Evaluation 9,693 9,329 8,715 Total revenue $ 22,944 $ 23,018 $ 20,297 Revenue by geographic region: North America $ 9,626 $ 10,492 $ 9,597 Latin America 4,211 3,987 3,197 Europe/Africa/CIS 3,003 2,861 2,691 Middle East/Asia 6,104 5,678 4,812 Total revenue $ 22,944 $ 23,018 $ 20,297

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]
Rollforward of Allowance for Bad Debts	The table below presents a rollforward of our allowance for credit losses for 2022, 2023 and 2024. Millions of dollars Balance at Beginning of Period Provision (a) Other (b) Balance at End of Period (c) Year ended December 31, 2022 $ 754 $ 2 $ (25) $ 731 Year ended December 31, 2023 731 22 (11) 742 Year ended December 31, 2024 742 17 (5) 754 (a) Represents increases to allowance for credit losses charged to costs and expenses, net of recoveries. (b) Includes write-offs, balance sheet reclassifications, and other activity. (c) The allowance for credit losses in all years is primarily comprised of a full reserve against accounts receivable with our primary customer in Venezuela.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Lease, Cost	The following tables illustrate the financial impact of our leases as of and for the years ended December 31, 2024, 2023, and 2022, along with other supplemental information about our existing leases: Year Ended December 31, Millions of dollars 2024 2023 2022 Components of lease expense: Finance lease cost: Amortization of right-of-use assets $ 37 $ 30 $ 20 Interest on lease liabilities 38 41 38 Operating lease cost 353 337 301 Short-term lease cost 42 35 31 Sublease income (3) (2) (3) Total lease cost $ 467 $ 441 $ 387
Lease supplemental disclosure	As of December 31, Millions of dollars 2024 2023 Components of balance sheet: Operating leases: Operating lease right-of-use assets (non-current) $ 1,022 $ 1,088 Current portion of operating lease liabilities 263 262 Operating lease liabilities (non-current) 798 911 Finance leases: Other assets (non-current) $ 139 $ 120 Other current liabilities 44 32 Other liabilities (non-current) 126 132 Year Ended December 31, Millions of dollars except years and percentages 2024 2023 2022 Other supplemental information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 374 $ 354 $ 332 Operating cash flows for finance leases 38 41 38 Financing cash flows for finance leases 33 37 26 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 274 $ 487 $ 249 Finance leases 57 64 62 Weighted-average remaining lease term: Operating leases 7.9 years 8.2 years 9.5 years Finance leases 4.6 years 5.3 years 5.9 years Weighted-average discount rate for operating leases 5.4 % 5.3 % 5.2 %
Lessee, Operating and Finance Leases, Liability Maturity Table	The following table summarizes the maturity of our operating and finance leases as of December 31, 2024: Millions of dollars Operating Leases Finance Leases 2025 $ 317 $ 78 2026 232 75 2027 159 40 2028 101 19 2029 82 10 Thereafter 453 16 Total lease payments 1,344 238 Imputed interest (284) (68) Total lease payments, net of imputed interest $ 1,060 $ 170

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	December 31, Millions of dollars 2024 2023 Finished products and parts $ 1,956 $ 2,069 Raw materials and supplies 952 1,021 Work in process 132 136 Total inventories $ 3,040 $ 3,226

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, plant, and equipment	Property, plant, and equipment were composed of the following: December 31, Millions of dollars 2024 2023 Land $ 119 $ 119 Buildings and property improvements 1,751 1,724 Machinery, equipment, and other 15,704 15,121 Total property, plant, and equipment 17,574 16,964 Accumulated depreciation (12,461) (12,064) Net property, plant, and equipment $ 5,113 $ 4,900
Percentages of building and property improvements, and total machinery, and equipment and other, excluding oil and natural gas investments, depreciated over useful lives	Classes of assets are depreciated over the following useful lives: Buildings and Property 2024 2023 1 - 10 years 17% 16% 11 - 20 years 40% 40% 21 - 30 years 26% 26% 31 - 40 years 17% 18% Machinery, Equipment, 2024 2023 1 - 5 years 46% 47% 6 - 10 years 45% 43% 11 - 20 years 9% 10%

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of debt	Our long-term total debt consisted of the following: December 31, Millions of dollars 2024 2023 5.0% senior notes due November 2045 $ 1,887 $ 1,911 2.92% senior notes due March 2030 1,000 1,000 4.85% senior notes due November 2035 997 1,000 7.45% senior notes due September 2039 938 946 4.75% senior notes due August 2043 846 879 6.7% senior notes due September 2038 763 763 4.5% senior notes due November 2041 469 500 7.6% senior debentures due August 2096 226 228 6.75% notes due February 2027 90 90 3.8% senior notes due November 2025 — 382 Other 6 5 Unamortized debt issuance costs and discounts (62) (68) Total long-term debt $ 7,160 $ 7,636 Short-term borrowings and current maturities of long-term debt, net 381 — Total debt $ 7,541 $ 7,636
Schedule of Repurchase Agreements	Our total debt repurchases consisted of the following: December 31, Millions of dollars 2024 2023 4.75% senior notes due August 2043 $ 32 $ 21 4.5% senior notes due November 2041 31 — 5.0% senior notes due November 2045 24 90 7.45% senior notes due September 2039 8 54 4.85% senior notes due November 2035 3 — 7.6% senior debentures due August 2096 2 66 6.7% senior notes due September 2038 — 37 3.8% senior notes due November 2025 — 18 6.75% notes due February 2027 — 14 Total Repurchases $ 100 $ 300

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Components of the (provision)/benefit for income taxes on continuing operations	The components of the (provision) benefit for income taxes on continuing operations were as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 Current income taxes: Federal $ 10 $ (21) $ (17) Foreign (571) (472) (417) State (9) (12) (11) Total current income taxes (570) (505) (445) Deferred income taxes: Federal (167) (123) (159) Foreign 31 (59) 103 State (12) (14) (14) Total deferred income taxes (148) (196) (70) Income tax provision $ (718) $ (701) $ (515)
United States and foreign components of income from continuing operations before income taxes	The United States and foreign components of income from continuing operations before income taxes were as follows: Year Ended December 31, Millions of dollars 2024 2023 2022 United States $ 1,695 $ 1,666 $ 992 Foreign 1,539 1,697 1,118 Total income from continuing operations before income taxes $ 3,234 $ 3,363 $ 2,110
Reconciliations between the actual provision for income taxes on continuing operations and that computed by applying the US statutory rate to income from continuing operations before income taxes	Reconciliations between the actual (provision) benefit for income taxes on continuing operations and that computed by applying the United States statutory rate to income from continuing operations before income taxes were as follows: Year Ended December 31, 2024 2023 2022 United States statutory rate 21.0 % 21.0 % 21.0 % Valuation allowance against tax assets (2.1) 0.8 (2.9) Impact of foreign income taxed at different rates 4.7 0.2 3.0 State income taxes 0.6 0.7 0.8 Impact of impairments and other charges 0.6 0.6 0.7 Adjustments of prior year taxes (2.5) (1.3) 0.2 Other items, net (0.1) (1.2) 1.6 Total effective tax rate on continuing operations 22.2 % 20.8 % 24.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The primary components of our deferred tax assets and liabilities were as follows: December 31, Millions of dollars 2024 2023 Gross deferred tax assets: Foreign tax credit carryforwards $ 950 $ 902 Intangible assets 727 789 Net operating loss carryforwards 581 663 Accrued liabilities 227 293 Research and development tax credit carryforwards 85 173 Employee compensation and benefits 170 193 Other 639 579 Total gross deferred tax assets 3,379 3,592 Gross deferred tax liabilities: Operating lease right-of-use assets 144 189 Depreciation and amortization 164 115 Other 50 51 Total gross deferred tax liabilities 358 355 Valuation allowances 718 761 Net deferred income tax asset $ 2,303 $ 2,476
Summary of Tax Credit Carryforwards	Our deferred tax assets from net operating losses, foreign tax credits, and research and development credits will expire as follows: Millions of dollars U.S. Net Operating Loss Foreign Net Operating Loss Foreign Tax Credits Research and Development Credit Total Deferred Tax Assets 2025-2029 $ 3 $ 126 $ 642 $ — $ 771 2030-2034 8 5 315 — 328 2035-2044 23 68 — 84 175 Non-Expiring 13 345 — — 358 $ 47 $ 544 $ 957 $ 84 $ 1,632
Schedule of Unrecognized Tax Benefits Roll Forward	The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties. Millions of dollars Unrecognized Tax Benefits Interest Balance at January 1, 2022 $ 352 $ 72 Change in prior year tax positions (36) (5) Change in current year tax positions 13 2 Cash settlements with taxing authorities (6) (2) Lapse of statute of limitations (12) (3) Balance at December 31, 2022 $ 311 (a) $ 64 Change in prior year tax positions (38) (10) Change in current year tax positions 8 1 Cash settlements with taxing authorities (4) (3) Lapse of statute of limitations (9) (3) Balance at December 31, 2023 $ 268 (a) $ 49 Change in prior year tax positions (68) — Change in current year tax positions 10 1 Cash settlements with taxing authorities (1) (1) Lapse of statute of limitations (13) (4) Balance at December 31, 2024 $ 196 (a)(b) $ 45 (a) Includes $40 million as of December 31, 2024, $43 million as of December 31, 2023, and $51 million as of December 31, 2022 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2024, December 31, 2023, and December 31, 2022, a net $137 million, $192 million and $208 million after a net operating loss carryforward offset, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor. (b) Includes $64 million as of December 31, 2024 that we believe could be resolved within the next 12 months.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of shares of common stock	The following table summarizes total shares of common stock outstanding: December 31, Millions of shares 2024 2023 Issued 1,065 1,065 In treasury (197) (176) Total shares of common stock outstanding 868 889
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive loss consisted of the following: December 31, Millions of dollars 2024 2023 Cumulative translation adjustment $ (82) $ (84) Defined benefit and other postretirement liability adjustments (a) (234) (207) Other (37) (40) Total accumulated other comprehensive loss $ (353) $ (331) (a) Included net actuarial losses for our international pension plans of $233 million at December 31, 2024 and $209 million at December 31, 2023.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Payment Arrangement, Cost by Plan	The following table summarizes stock-based compensation costs for the years ended December 31, 2024, 2023, and 2022. . Year Ended December 31, Millions of dollars 2024 2023 2022 Stock-based compensation cost $ 223 $ 219 $ 219 Tax benefit (38) (36) (33) Stock-based compensation cost, net of tax $ 185 $ 183 $ 186
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Payment Arrangement, Option, Activity	The following table represents our stock options activity during 2024. Number Weighted Weighted Aggregate Outstanding at January 1, 2024 14.3 $ 45.47 Exercised (0.3) 26.89 Forfeited/expired (3.6) 58.04 Outstanding at December 31, 2024 10.4 $ 41.75 2.4 $ 4.0 Exercisable at December 31, 2024 10.4 $ 41.75 2.4 $ 4.0
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table represents our restricted stock awards and restricted stock units granted, vested, and forfeited during 2024. . Number of Shares Weighted Average Nonvested shares at January 1, 2024 20.9 $ 27.42 Granted 7.3 36.76 Vested (7.7) 25.10 Forfeited (1.0) 29.30 Nonvested shares at December 31, 2024 19.5 $ 31.64
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The assumptions and resulting fair values were as follows: Year Ended December 31, 2024 2023 2022 Expected volatility 30 % 48 % 46 % Expected dividend yield 2.00 % 1.44 % 1.67 % Risk-free interest rate 5.24 % 5.11 % 1.42 % Weighted average grant-date fair value per share $ 5.60 $ 7.16 $ 5.63

Income per Share Income per Sha

Income per Share Income per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Weighted average shares outstanding and antidilutive shares [Line Items]
Weighted average shares outstanding and antidilutive shares	A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows: Year Ended December 31, Millions of shares 2024 2023 2022 Basic weighted average common shares outstanding 882 899 904 Dilutive effect of awards granted under our stock incentive plans 1 3 4 Diluted weighted average common shares outstanding 883 902 908 Antidilutive shares: Options with exercise price greater than the average market price 10 12 15 Total antidilutive shares 10 12 15

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The carrying amount and fair value of our total debt is as follows: December 31, 2024 December 31, 2023 Millions of dollars Level 1 Level 2 Total fair value Carrying value Level 1 Level 2 Total fair value Carrying value Total debt $ 4,503 $ 2,825 $ 7,328 $ 7,541 $ 7,419 $ 378 $ 7,797 $ 7,636

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The following table presents additional information about our international pension plans. December 31, Millions of dollars 2024 2023 Amounts recognized on the Consolidated Balance Sheets Other assets $ 11 $ 39 Accrued employee compensation and benefits 11 10 Employee compensation and benefits 177 154 Pension plans in which projected benefit obligation exceeded plan assets Projected benefit obligation $ 200 $ 179 Fair value of plan assets 12 15 Pension plans in which accumulated benefit obligation exceeded plan assets Accumulated benefit obligation $ 122 $ 106 Fair value of plan assets 12 15
Schedule of Allocation of Plan Assets	The following table sets forth the fair values of assets held by our international pension plans by level within the fair value hierarchy. Millions of dollars Level 1 Level 2 Level 3 Net Asset Value (a) Total Cash and equivalents $ — $ — $ — $ — $ — Bond funds (b) — 11 — — 11 Real estate funds (c) — — — 8 8 Other investments (d) 1 9 565 — 575 Fair value of plan assets at December 31, 2024 $ 1 $ 20 $ 565 $ 8 $ 594 Cash and equivalents $ 29 $ 234 $ — $ — $ 263 Bond funds (e) — 159 — 156 315 Real estate funds (c) — — — 30 30 Other investments (d) 1 11 2 — 14 Fair value of plan assets at December 31, 2023 $ 30 $ 404 $ 2 $ 186 $ 622 (a) Represents investments measured at fair value using the Net Asset Value (NAV) per share practical expedient and thus has not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of our international pension plans assets. (b) Strategy of bond funds is to invest in fixed income securities meeting certain ratings thresholds focused on mitigating interest rate risk and protecting funded status. (c) Strategy of real estate funds is to invest in diversified funds of real estate investment trusts and private real estate. (d) Other investments consist of insurance contracts, a buy-in annuity insurance contract, balanced funds, and government bonds. The fair value of the buy-in annuity insurance contract is determined using the quote provided by an insurance company, reflecting prevailing market conditions for similar transactions. (e) Strategy of bond funds is to invest in diversified funds of fixed income securities of varying geographies and credit quality.
Defined Benefit Plan, Assumptions	Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension plans at December 31 were as follows: 2024 2023 Discount rate 5.3% 5.1% Rate of compensation increase 4.9% 5.6% Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international pension plans for the years ended December 31 were as follows: 2024 2023 2022 Discount rate 5.1% 5.6% 2.3% Expected long-term return on plan assets 4.0% 3.8% 3.0% Rate of compensation increase 2.9% 5.4% 5.3%
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The following presents our Level 3 Rollforward for buy-in annuity insurance contract for 2024. Level 3 assets in 2023 were immaterial. Millions of dollars 2024 Balance at the beginning of the year $ 2 Purchase of insurance contract 590 Return on assets (18) Payment from the insurance policy (9) Balance at the end of the year $ 565

Payables and Accruals (Tables)

Payables and Accruals (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Supplier Finance Program	The following table presents a rollforward of our supplier finance program obligations: December 31, Millions of dollars 2024 2023 Confirmed obligations outstanding at the beginning of the year $ 322 $ 273 Invoices confirmed during the year 1,217 1,257 Confirmed invoices paid during the year (1,222) (1,208) Confirmed obligations outstanding at the end of the year $ 317 $ 322

Description of Company and Si_4

Description of Company and Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) Division	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments | Division	2
Goodwill [Line Items]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Research and Development [Abstract]
Research and development costs	$ 426,000,000	408,000,000	345,000,000
Cash and Cash Equivalents [Abstract]
Cash equivalents, maximum maturity (in months)	3 months
Goodwill [Roll Forward]
Goodwill	$ 2,850,000,000	2,829,000,000
Current year acquisitions	8,000,000	21,000,000
Other	(20,000,000)	0
Goodwill	$ 2,838,000,000	2,850,000,000	2,829,000,000
Minimum
Finite-lived intangible assets [Abstract]
Useful life of finite-lived intangible assets (in years)	1 year
Completion and Production
Goodwill [Roll Forward]
Goodwill	$ 2,032,000,000	2,020,000,000
Current year acquisitions	8,000,000	0
Other	(20,000,000)	12,000,000
Goodwill	2,020,000,000	2,032,000,000	2,020,000,000
Drilling and Evaluation
Goodwill [Roll Forward]
Goodwill	818,000,000	809,000,000
Current year acquisitions	0	21,000,000
Other	0	(12,000,000)
Goodwill	$ 818,000,000	$ 818,000,000	$ 809,000,000

Impairment and Other Charges (D

Impairment and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Long-lived asset impairments			$ 0		$ 0		$ 100
Inventory costs and write-downs			0		0		70
Severance			63		0		0
Impairment Charge on Reclassified Assets			49		0		0
Cybersecurity incident			35		0		0
Gain (Loss) on Investments			(43)		0		0
Other			(12)		0		(6)
Total impairments and other charges	$ 344	$ 22	116	[1]	0	[1]	366	[1]
Right-of-Use Assets Obtained in Exchange for Operating Lease Liability			274	[2]	487		249
Income before income taxes			3,234		3,363		2,110
Impairments and other charges			116		$ 0		366
Completion and Production
Restructuring Cost and Reserve [Line Items]
Total impairments and other charges	131		45				136
Drilling and Evaluation
Restructuring Cost and Reserve [Line Items]
Total impairments and other charges	$ 178		34				195
Corporate Segment and Other Operating Segment [Member]
Restructuring Cost and Reserve [Line Items]
Total impairments and other charges			$ 37				$ 35
UNITED STATES | Revenue Benchmark [Member] | Geographic Concentration Risk
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage			40%		44%		45%
UNITED STATES | Accounts Receivable | Geographic Concentration Risk
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage			30%		33%
Russia/Ukraine
Restructuring Cost and Reserve [Line Items]
Write-down of A/R in Russia & Ukraine			$ 0		$ 0		$ 202
UKRAINE
Restructuring Cost and Reserve [Line Items]
Write-down of A/R in Ukraine							$ 16
MEXICO | Accounts Receivable | Geographic Concentration Risk
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage			11%		9%
MEXICO | Accounts Receivable | Customer Concentration Risk
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage			8%		6%
[1] Impairments and other charges are as follows: -For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other. -For the year ended December 31, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million net gain attributable to Corporate and other.

Business Segment and Geograph_3

Business Segment and Geographic Information (Narrative) (Details) - Division	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of business segments	2
Property, Plant and Equipment [Member] | Geographic Concentration Risk | UNITED STATES
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	49%	59%
Revenue Benchmark [Member] | Geographic Concentration Risk | UNITED STATES
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	40%	44%	45%

Business Segment and Geograph_4

Business Segment and Geographic Information (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Revenue:
Revenue				$ 22,944		$ 23,018		$ 20,297
Operating income:
Total operating income				3,822		4,083		2,707
Impairments and other charges		$ (344)	$ (22)	(116)	[1]	0	[1]	(366)	[1]
Interest expense, net of interest income				(353)		(395)		(463)
Gain (Loss) on Blue Chip Swap Transaction				(8)		(110)		0
Other, net				(227)		(84)		(62)
Income before income taxes				3,234		3,363		2,110
Depreciation, depletion, and amortization:
Total depreciation, depletion and amortization				1,079		998		940
Total assets:
Total assets				25,587		24,683
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net				5,113		4,900
Gain (Loss) on Extinguishment of Debt				0		0		(42)
SAP S4 Upgrade Expense				(124)		(51)		0
Argentina Currency Devaluation				0		131		30
Payments to Acquire Marketable Securities				(438)		(492)		(75)
Payments to Acquire Productive Assets				1,442		1,379		1,011
Total operations
Operating income:
Total operating income				4,317		4,378		3,329
Completion and Production
Revenue:
Revenue				13,251		13,689		11,582
Operating income:
Total operating income				2,709		2,835		2,037
Impairments and other charges		(131)		(45)				(136)
Depreciation, depletion, and amortization:
Total depreciation, depletion and amortization				588		553		520
Total assets:
Total assets	[2]			11,987		11,606
Property, Plant and Equipment [Abstract]
Operating Expenses				10,542		10,854		9,545
Payments to Acquire Productive Assets				775		765		589
Cost, Direct Material				5,428		5,906		5,573
Cost, Direct Labor				1,922		1,810		1,614
Other Cost of Operating Revenue				2,604		2,585		1,838
Drilling and Evaluation
Revenue:
Revenue				9,693		9,329		8,715
Operating income:
Total operating income				1,608		1,543		1,292
Impairments and other charges		$ (178)		(34)				(195)
Depreciation, depletion, and amortization:
Total depreciation, depletion and amortization				475		430		406
Total assets:
Total assets	[2]			7,806		7,532
Property, Plant and Equipment [Abstract]
Operating Expenses				8,085		7,786		7,423
Payments to Acquire Productive Assets				665		613		420
Cost, Direct Material				3,803		3,771		3,293
Cost, Direct Labor				1,865		1,750		1,596
Other Cost of Operating Revenue				1,942		1,835		2,128
Corporate Segment and Other Operating Segment [Member]
Operating income:
Other General Expense				(255)		(244)		(256)
Impairments and other charges				(37)				(35)
Depreciation, depletion, and amortization:
Total depreciation, depletion and amortization				16		15		14
Total assets:
Total assets	[3]			5,794		5,545
Property, Plant and Equipment [Abstract]
Payments to Acquire Productive Assets				2		1		2
North America [Member]
Revenue:
Revenue				9,626		10,492		9,597
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net				2,595		2,961
Latin America [Member]
Revenue:
Revenue				4,211		3,987		3,197
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net				1,002		527
Europe/Africa/CIS [Member]
Revenue:
Revenue				3,003		2,861		2,691
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net				593		444
Middle East/Asia [Member]
Revenue:
Revenue				6,104		5,678		$ 4,812
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net				$ 923		$ 968
[1] Impairments and other charges are as follows: -For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other. -For the year ended December 31, 2022, amount includes approximately $136 million attributable to Completion and Production, $195 million attributable to Drilling and Evaluation, and a $35 million net gain attributable to Corporate and other. Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill. Includes primarily cash and equivalents and deferred tax assets.

Revenue (Details)

Revenue (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Division	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of business segments | Division	2
Revenue, Performance Obligation, Description of Timing	one year
Revenue	$ 22,944	$ 23,018	$ 20,297
North America [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,626	10,492	9,597
Latin America [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,211	3,987	3,197
Europe/Africa/CIS [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,003	2,861	2,691
Middle East/Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 6,104	5,678	4,812
Minimum
Disaggregation of Revenue [Line Items]
Revenue, Performance Obligation, Description of Payment Terms	20
Maximum
Disaggregation of Revenue [Line Items]
Revenue, Performance Obligation, Description of Payment Terms	60
Completion and Production
Disaggregation of Revenue [Line Items]
Revenue	$ 13,251	13,689	11,582
Drilling and Evaluation
Disaggregation of Revenue [Line Items]
Revenue	$ 9,693	$ 9,329	$ 8,715

Receivables (Details)

Receivables (Details) $ in Millions		12 Months Ended
		Dec. 31, 2024 USD ($) Customers		Dec. 31, 2023 USD ($) Customers		Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Maximum Percentage Gross Trade Receivables From One Customer		10%		10%
NumberOfCustomersExceedReceivablesThreshold | Customers		0		0
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period		$ 742	[1]	$ 731	[1]	$ 754
Provision (a)	[2]	17		22		2
Other (b)	[3]	(5)		(11)		(25)
Balance at End of Period (c)	[1]	754		$ 742		$ 731
CDS Contracts Aggregate
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Derivative, Notional Amount		$ 739
UNITED STATES | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration Risk, Percentage		30%		33%
MEXICO | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration Risk, Percentage		11%		9%
MEXICO | Customer Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration Risk, Percentage		8%		6%
[1] The allowance for credit losses in all years is primarily comprised of a full reserve against accounts receivable with our primary customer in Venezuela. Represents increases to allowance for credit losses charged to costs and expenses, net of recoveries. Includes write-offs, balance sheet reclassifications, and other activity.

Leases (Details)

Leases (Details)	Dec. 31, 2024
Leases [Abstract]
Lessee, Operating Lease, Term of Contract	10 years

Leases Components of lease expe

Leases Components of lease expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Short-term lease cost	$ 42	$ 35	$ 31
Sublease income	(3)	(2)	(3)
Total lease cost	467	441	387
Finance lease cost - Amortization of right-of-use assets	37	30	20
Finance lease cost - Interest on lease liabilities	38	41	38
Operating Lease, Cost	$ 353	$ 337	$ 301

Leases Components of balance sh

Leases Components of balance sheet (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Operating lease right-of-use assets (non-current)	$ 1,022	$ 1,088
Current portion of operating lease liabliities	263	262
Operating lease liabilities (non-current)	$ 798	$ 911

Leases Other supplemental infor

Leases Other supplemental information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 374		$ 354	$ 332
Operating cash flows from finance leases	38		41	38
Financing cash flows from finance leases	33		37	26
Right-of-Use Assets Obtained in Exchange for Operating Lease Liability	274	[1]	487	249
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 57		$ 64	$ 62
Operating Lease, Weighted Average Remaining Lease Term	7 years 10 months 24 days		8 years 2 months 12 days	9 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	5.40%		5.30%	5.20%
Finance Lease, Weighted Average Remaining Lease Term	4 years 7 months 6 days		5 years 3 months 18 days	5 years 10 months 24 days
[1]

Leases Maturity (Details)

Leases Maturity (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2020 - Operating Leases	$ 317
2020 - Financing Leases	78
2021 - Operating Leases	232
2021 - Financing Leases	75
2022 - Operating Leases	159
2022 - Financing Leases	40
2023 - Operating Leases	101
2023 - Financing Leases	19
2024 - Operating Leases	82
2024 - Financing Leases	10
Thereafter - Operating Leases	453
Thereafter - Financing Leases	16
Total lease payments - Operating Leases	1,344
Total lease payments - Financing Leases	238
Imputed interest - Operating Leases	(284)
Imputed interest - Financing Leases	(68)
Total - Operating Leases	1,060
Total - Financing Leases	$ 170

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventory costs and write-downs	$ 0	$ 0	$ 70
Inventory, net [Abstract]
Finished products and parts	1,956	2,069
Raw materials and supplies	952	1,021
Work in process	132	136
Total inventories	3,040	3,226
Obsolescence reserves	$ 62	$ 81

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 17,574	$ 16,964
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(12,461)	(12,064)
Net property, plant, and equipment	5,113	4,900
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Long-lived asset impairments	0	0	$ 100
Land
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	119	119
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,751	$ 1,724
Building and Building Improvements [Member] | 1    -   10 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	17%	16%
Building and Building Improvements [Member] |    11    -   20 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	40%	40%
Building and Building Improvements [Member] |    21    -   30 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	26%	26%
Building and Building Improvements [Member] |    31    -   40 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	17%	18%
Machinery, equipment, and other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 15,704	$ 15,121
Machinery, equipment, and other |      1    -    5 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	46%	47%
Machinery, equipment, and other |      6    -   10 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	45%	43%
Machinery, equipment, and other |    11    -   20 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	9%	10%

Debt (Details)

Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Apr. 27, 2022
Debt Instrument [Line Items]
Long-term debt	$ 7,541	$ 7,636
Long-term Debt and Lease Obligation, Including Current Maturities	7,160	7,636
Unamortized debt issuance costs and discounts	$ (62)	(68)
Debt instrument call feature description	We may redeem all of our senior notes from time to time or all of the notes of each series at any time at the applicable redemption prices, plus accrued and unpaid interest.
Gain (Loss) on Extinguishment of Debt	$ 0	0	$ (42)
Long-term Line of Credit				$ 3,500
Long-Term Debt, Maturity, Year One	381
Long-term Debt, Maturities, Repayments of Principal in Year Two	0
Long-term Debt, Maturities, Repayments of Principal in Year Three	90
Long-term Debt, Maturities, Repayments of Principal in Year Four	0
Long-term Debt, Maturities Repayments of Principal in Year Five	0
Short-term borrowings and current maturities of long-term debt	381	0
Senior notes due November 2045
Debt Instrument [Line Items]
Long-term debt	1,887	1,911
Debt Instrument, Repurchase Amount	24	90
Senior notes due March 2030
Debt Instrument [Line Items]
Long-term debt	1,000	1,000
Senior Notes due November 2035
Debt Instrument [Line Items]
Long-term debt	997	1,000
Debt Instrument, Repurchase Amount	3	0
Senior notes due September 2039
Debt Instrument [Line Items]
Long-term debt	938	946
Debt Instrument, Repurchase Amount	8	54
Senior notes due August 2043
Debt Instrument [Line Items]
Long-term debt	846	879
Debt Instrument, Repurchase Amount	32	21
Senior notes due September 2038
Debt Instrument [Line Items]
Long-term debt	763	763
Debt Instrument, Repurchase Amount	0	37
Senior notes due November 2041
Debt Instrument [Line Items]
Long-term debt	469	500
Debt Instrument, Repurchase Amount	31	0
Senior debentures due August 2096
Debt Instrument [Line Items]
Long-term debt	$ 226	228
Debt instruments non-call feature description	may not be redeemed prior to maturity
Debt Instrument, Repurchase Amount	$ 2	66
Senior notes due February 2027
Debt Instrument [Line Items]
Long-term debt	90	90
Debt Instrument, Repurchase Amount	0	14
Senior Notes due November 2025
Debt Instrument [Line Items]
Long-term debt	$ 0	382
Interest rate (in hundredths)	3.80%		3.80%
Debt Instrument, Repurchase Amount	$ 0	18
Early Repayment of Senior Debt			$ 600
Repayments of Senior Debt			$ 641
Other Debt Obligations
Debt Instrument [Line Items]
Long-term debt	$ 6	5
Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate (in hundredths)	6.75%
Senior Notes due 2096
Debt Instrument [Line Items]
Interest rate (in hundredths)	7.60%
Senior & Medium Term Notes due with Various Maturity Dates
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount	$ 100	$ 300
Outstanding balance of Senior Notes due Various Dates
Debt Instrument [Line Items]
Long-term debt	6,600
Outstanding balance of Senior Notes due November 2025
Debt Instrument [Line Items]
Long-term debt	$ 382

Commitments and Contingencies (

Commitments and Contingencies (Guarantee Arrangements) (Details) $ in Billions	Dec. 31, 2024 USD ($)
Financial agreements
Guarantee arrangements [Abstract]
Guarantee arrangements outstanding	$ 2.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Current income taxes:
Federal	$ 10		$ (21)		$ (17)
Foreign	(571)		(472)		(417)
State	(9)		(12)		(11)
Total current	(570)		(505)		(445)
Deferred income taxes:
Federal	(167)		(123)		(159)
Foreign	31		(59)		103
State	(12)		(14)		(14)
Total deferred	(148)		(196)		(70)
Income Tax Expense (Benefit)	(718)		(701)		(515)
The United States and foreign components of income from continuing operations before income taxes [Abstract]
United States	1,695		1,666		992
Foreign	1,539		1,697		1,118
Income (loss) before income taxes	$ 3,234		$ 3,363		$ 2,110
Reconciliations between the actual provision for income taxes on continuing operations [Abstract]
United States statutory rate	21%		21%		21%
Impact of impairments and other charges	0.60%		0.60%		0.70%
Adjustments of prior year taxes	(2.50%)		(1.30%)		0.20%
Valuation allowance against tax assets	(2.10%)		0.80%		(2.90%)
State income taxes	0.60%		0.70%		0.80%
Impact of foreign income taxed at different rates	4.70%		0.20%		3%
Other items, net	(0.10%)		(1.20%)		1.60%
Total effective tax rate on continuing operations	22.20%		20.80%		24.40%
Gross deferred tax assets:
Net operating loss carryforwards	$ 581		$ 663
Foreign tax credit carryforwards	950		902
Deferred Tax Assets, Goodwill and Intangible Assets	727		789
Research and development tax credit carryforwards	85		173
Employee compensation and benefits	170		193
Accrued Liabilities	227		293
Other	639		579
Total gross deferred tax assets	3,379		3,592
Gross deferred tax liabilities:
Depreciation and amortization	164		115
Operating lease right-of-use assets	144		189
Other	50		51
Total gross deferred tax liabilities	358		355
Valuation allowances	718		761
Net deferred income tax asset	2,303		2,476
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	591
Unrecognized Tax Benefits, Period Increase (Decrease)	10
Unrecognized Tax Benefits
Beginning Balance	268	[1]	311		$ 352
Change in prior year tax positions	68				36
Change in prior year tax positions			(38)
Change in current year tax positions	10		8		13
Cash settlements with taxing authorities	(1)		(4)		(6)
Lapse of statute of limitations	(13)		(9)		(12)
Ending balance	196	[1]	268	[1]	311
Interest and Penalties
Beginning balance	49		64		72
Change in prior year tax positions	0		(10)		5
Change in current year tax positions	1		1		2
Cash settlements with taxing authorities	(1)		(3)		(2)
Lapse of statute of limitations	(4)		(3)		(3)
Ending balance	45		49		64
Remaining balance if resolved in our favor would positively impact the effective tax rate	137		192		208
Portion of unrecognized tax benefits that could be resolved within the next 12 months	64
Net operating loss carryforwards	581		663
Foreign tax credit carryforwards	950		902
Research and development tax credit carryforwards	85		173
Deferred Tax Assets, Operating Loss Carryforwards, Domestic, Not Subject to Expiration	13
Deferred Tax Assets, Operating Loss Carryforwards, Foreign, Not Subject to Expiration	345
Deferred Tax Assets, Tax Credit Carryforwards, Foreign, Not Subject to Expiration	0
Deferred Tax Assets, Tax Credit Carryforwards, Research, Not Subject to Expiration	0
Deferred Tax Assets, Operating Loss Carryforwards and Tax Credit Carryforwards, Not Subject to Expiration	358
Deferred Tax Assets, Estimated Tax Credit Carryforwards, Research	84
Deferred Tax Assets, Estimated Tax Credit Carryforwards, Foreign	957
Deferred Tax Assets, Estimated Operating Loss Carryforwards, Foreign	544
Deferred Tax Assets, Estimated Operating Loss Carryforwards, Domestic	47
Deferred Tax Assets, Operating Loss Carryforwards and Tax Credit Carryforwards	1,632
2016 Baker Hughes Merger Termination Fee	3,500
Foreign branch deferred activity and UnrecognizedTaxBenefits	7
2025-2029
Gross deferred tax assets:
Foreign tax credit carryforwards	642
Research and development tax credit carryforwards	0
Interest and Penalties
U.S. Net Operating Loss	3
Foreign Net Operating Loss	126
Foreign tax credit carryforwards	642
Research and development tax credit carryforwards	0
Deferred Tax Assets, Gross	771
2030-2034
Gross deferred tax assets:
Foreign tax credit carryforwards	315
Research and development tax credit carryforwards	0
Interest and Penalties
U.S. Net Operating Loss	8
Foreign Net Operating Loss	5
Foreign tax credit carryforwards	315
Research and development tax credit carryforwards	0
Deferred Tax Assets, Gross	328
2035-2044
Gross deferred tax assets:
Foreign tax credit carryforwards	0
Research and development tax credit carryforwards	84
Interest and Penalties
U.S. Net Operating Loss	23
Foreign Net Operating Loss	68
Foreign tax credit carryforwards	0
Research and development tax credit carryforwards	84
Deferred Tax Assets, Gross	175
All Other Countries [Domain]
Interest and Penalties
Remaining balance if resolved in our favor would positively impact the effective tax rate	$ 40		$ 43		$ 51
[1] Includes $40 million as of December 31, 2024, $43 million as of December 31, 2023, and $51 million as of December 31, 2022 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2024, December 31, 2023, and December 31, 2022, a net $137 million, $192 million and $208 million after a net operating loss carryforward offset, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor.

Shareholders' Equity (Sharehold

Shareholders' Equity (Shareholders' Equity, Accumulated Other Comprehensive Loss, Common Stock, and Preferred Stock) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Issued		1,065,000,000	1,065,000,000
Treasury Stock, Shares		197,000,000	176,000,000
Total shares of common stock outstanding		868,000,000	889,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	[1]	$ (234,000,000)	$ (207,000,000)
Other		(37,000,000)	(40,000,000)
Accumulated other comprehensive loss		$ (353,000,000)	$ (331,000,000)
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Stock Repurchased During Period, Shares		30,500,000	22,700,000
Stock authorized to repurchase		$ 3,000,000,000
Number of shares of common stock repurchased from inception (in shares)		284,000,000
Approximate value of shares of common stock repurchased from inception		$ 11,100,000,000
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Number of shares of preferred stock that are authorized for issuance (in shares)		5,000,000
Number of shares preferred stock that are issued at period end (in shares)		0
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax		$ (82,000,000)	$ (84,000,000)
Stock plans		241,000,000	282,000,000	$ 395,000,000
Retained Earnings
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Stock plans		105,000,000	98,000,000	$ 275,000,000
Foreign Plan [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net actuarial losses		$ 233,000,000	$ 209,000,000
[1] Included net actuarial losses for our international pension plans of $233 million at December 31, 2024 and $209 million at December 31, 2023.

Stock-based Compensation (Detai

Stock-based Compensation (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) Offering_Period $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Proceeds from issuance of common stock | $	$ 105,000	$ 136,000	$ 229,000
Employee Stock Purchase Plan [Abstract]
Granted	0	0	0
Stock Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation cost | $	$ 223,000	$ 219,000	$ 219,000
Tax benefit | $	(38,000)	(36,000)	(33,000)
Stock-based compensation cost, net of tax | $	$ 185,000	$ 183,000	186,000
Number of shares reserved for issuance to recipient (in shares)	284,000
Number of shares available for future grant (in shares)	23,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Expiration from date of award (in years)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period	14,300
Exercised	(300)
Forfeited/expired	(3,600)
Outstanding at end of period	10,400	14,300
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding- weighted average exercise price at beginning of period (in dollars per share) | $ / shares	$ 45.47
Exercised | $ / shares	26.89
Forfeited/expired | $ / shares	58.04
Outstanding- weighted average price per share end of period (in dollars per share) | $ / shares	$ 41.75	$ 45.47
Weighted Average Remaining Contractual Term (years)	2 years 4 months 24 days
Aggregate Intrinsic Value | $	$ 4,000
Number of shares exercisable at the end of the period	10,400
Weighted Average Exercise Price per Share, Exercisable at the end of the period | $ / shares	$ 41.75
Weighted Average Remaining Contractual Term (years), Exercisable at the end of the period	2 years 4 months 24 days
Aggregate Intrinsic Value, Exercisable at the end of the Period | $	$ 4,000
Intrinsic value of stock options exercised during the period | $	3,000	$ 20,000	43,000
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Unrecognized compensation cost, non vested awards at period end | $	0
Proceeds from issuance of common stock | $	$ 105,000	136,000	229,000
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	3 years
Exercise of stock options [Member]
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Proceeds from issuance of common stock | $	$ 9,000	$ 48,000	$ 148,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares reserved for issuance to recipient (in shares)	104,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected volatility	30%	48%	46%
Expected dividend yield	2%	1.44%	1.67%
Risk-free interest rate	5.24%	5.11%	1.42%
Weighted average grant-date fair value of option | $ / shares	$ 5.60	$ 7.16	$ 5.63
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares available for future issuance through the plan	25,000
Employee Stock Purchase Plan [Abstract]
Percentage of earnings eligible employees may have withheld under the employee stock purchase plan	10%
Number of offering periods | Offering_Period	4
Percentage of the lower of fair market value of the unit on the commencement date or the fair market value of unit on the last trading day of the offering period	90%
Number of shares sold through the plan (in shares)	79,000
Restricted Stock And Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares at the beginning of the period	20,900
Granted	7,300
Vested	(7,700)
Forfeited	(1,000)
Non vested shares at the end of the period	19,500	20,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant-Date Fair Value per Share, Non vested shares at the beginning of the period | $ / shares	$ 27.42
Granted | $ / shares	36.76	$ 31.73	$ 31.40
Vested | $ / shares	25.10
Forfeited | $ / shares	29.30
Weighted Average Grant-Date Fair Value Per Share, Nonvested shares at the end of the period | $ / shares	$ 31.64	$ 27.42
Total fair value of shares vested during the period | $	$ 263,000	$ 283,000	$ 248,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Expiration from date of award (in years)	5 years
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Unrecognized compensation cost, non vested awards at period end | $	$ 410,000
Weighted average period unrecognized compensation costs to be recognized (in years)	3 years

Income per Share (Details)

Income per Share (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive shares:
Basic weighted average common shares outstanding	882	899	904
Dilutive effect of awards granted under our stock incentive plans	1	3	4
Diluted weighted average common shares outstanding	883	902	908
Stock Options
Antidilutive shares:
Options with exercise price greater than the average market price	10	12	15
Total antidilutive shares	10	12	15

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Carrying Amount and Fair Value of Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Total fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt	$ 7,328	$ 7,797
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt	7,541	7,636
Level 1 | Total fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt	4,503	7,419
Level 2 | Total fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt	$ 2,825	$ 378

Financial Instruments and Ris_4

Financial Instruments and Risk Management (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of days from period end	2 days
Maximum term of currency derivative instruments (in years)	1 year
Long-Term Debt, Percentage Bearing Variable Interest, Amount	$ 7,200	$ 7,600
CDS Contracts Aggregate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount	739
CDS Contract A
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount	$ 186
Credit Derivative, Term	14 months
CDS Contract B
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount	$ 203
Credit Derivative, Term	18 months
CDS Contract C
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount	$ 350
Credit Derivative, Term	19 months
CDS Contract C | Forecast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount			$ 805
Senior & Medium Term Notes due with Various Maturity Dates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Repurchase Amount	$ 100	300
Senior Notes due with Various Maturity Dates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Repurchase Amount	100
Level 2 | Other current assets | Foreign Exchange Contract [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Notional Amount	781	715
Level 3 | Total fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt	$ 0	$ 0
UNITED STATES | Geographic Concentration Risk | Accounts Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Concentration Risk, Percentage	30%	33%
MEXICO | Geographic Concentration Risk | Accounts Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Concentration Risk, Percentage	11%	9%

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Expense for the defined contribution plans for continuing operations	$ 182	$ 181	$ 160
Buy-In Annuity Insurance Contract
Defined Benefit Plan Disclosure [Line Items]
Purchase of insurance contract	590
Defined Benefit Plan, Plan Assets, Amount	565	2
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	773	745
Defined Benefit Plan, Plan Assets, Amount	594	622
Defined Benefit Plan, Funded (Unfunded) Status of Plan	179	123
Defined Benefit Plan, Accumulated Benefit Obligation	694	672
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	43	$ 32	$ 14
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year	$ 1
Number of years annual benefit payments	10 years
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	$ 38
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	32
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	34
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	37
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	37
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	$ 225
United Kingdom Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
United Kingdom pension plan percentage of international pension plans' projected benefit obligations	73%

Retirement Plans (Additional In

Retirement Plans (Additional Information About International Plans) (Details) - Foreign Plan [Member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Amounts recognized on the Consolidated Balance Sheets
Other Assets	$ 11	$ 39
Accrued employee compensation and benefits	11	10
Employee compensation and benefits	177	154
Pension plans in which projected benefit obligation exceeded plan assets
Projected benefit obligation	200	179
Fair value of plan assets	12	15
Pension plans in which accumulated benefit obligation exceeded plan assets
Accumulated benefit obligation	122	106
Fair value of plan assets	$ 12	$ 15

Retirement Plans (Fair Value of

Retirement Plans (Fair Value of Assets Held by International Pension Plans) (Details) - Foreign Plan [Member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 594	$ 622
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	30
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	20	404
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	565	2
Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	8	186
Cash and equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	263
Cash and equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	29
Cash and equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	234
Cash and equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Cash and equivalents | Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Bond funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	11	315
Bond funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Bond funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	11	159
Bond funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Bond funds | Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	156
Real estate funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	8	30
Real estate funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Real estate funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Real estate funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Real estate funds | Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	8	30
Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	575	14
Other investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	1
Other investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	9	11
Other investments | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	565	2
Other investments | Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 0

Retirement Plans (Level 3 Rollf

Retirement Plans (Level 3 Rollforward) (Details) - Buy-In Annuity Insurance Contract $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at the beginning of the year	$ 2
Purchase of insurance contract	590
Return on assets	(18)
Payment from the insurance policy	(9)
Balance at the end of the year	$ 565

Retirement Plans (Actuarial Ass

Retirement Plans (Actuarial Assumptions) (Details) - Foreign Plan [Member]	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.30%	5.10%
Rate of compensation increase	4.90%	5.60%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	5.10%	5.60%	2.30%
Expected long-term return on plan assets	4%	3.80%	3%
Rate of compensation increase	2.90%	5.40%	5.30%

Payables and Accruals (Details)

Payables and Accruals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Outstanding Supplier Finance Payment Obligation	$ 317	$ 322
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding at the beginning of the year	322	273
Invoices confirmed during the year	1,217	1,257
Confirmed invoices paid during the year	(1,222)	(1,208)
Confirmed obligations outstanding at the end of the year	$ 317	$ 322
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current