Segment Information | 10. Segment Information (Stated in millions) Third Quarter 2024 Third Quarter 2023 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 1,088 $ 386 $ 982 $ 314 Reservoir Performance 1,823 367 1,680 344 Well Construction 3,312 714 3,430 759 Production Systems 3,103 519 2,367 319 Eliminations & other ( 167 ) ( 84 ) ( 149 ) ( 53 ) 1,902 1,683 Corporate & other (1) ( 187 ) ( 182 ) Interest income (2) 36 20 Interest expense (3) ( 132 ) ( 126 ) Charges and credits (4) ( 112 ) - $ 9,159 $ 1,507 $ 8,310 $ 1,395 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) Interest income excludes amounts that are included in the segments’ income ($ 16 million in 2024; $ 3 million in 2023). (3) Interest expense excludes amounts that are included in the segments’ income ( $ 4 million in 2024; $ 4 million in 2023). (4) See Note 2 – Charges and Credits . (Stated in millions) Nine Months 2024 Nine Months 2023 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 3,091 $ 965 $ 2,822 $ 901 Reservoir Performance 5,368 1,082 4,826 892 Well Construction 10,090 2,145 10,052 2,162 Production Systems 8,946 1,392 6,888 802 Eliminations & other ( 490 ) ( 180 ) ( 443 ) ( 102 ) 5,404 4,655 Corporate & other (1) ( 568 ) ( 536 ) Interest income (2) 98 57 Interest expense (3) ( 370 ) ( 363 ) Charges and credits (4) ( 279 ) 36 $ 27,005 $ 4,285 $ 24,145 $ 3,849 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) Interest income excludes amounts that are included in the segments’ income ($ 31 million in 2024; $ 2 million in 2023). (3) Interest expense excludes amounts that are included in the segments’ income ( $ 13 million in 2024 ; $ 10 million in 2023). (4) See Note 2 – Charges and Credits . Revenue by geographic area was as follows: (Stated in millions) Third Quarter Nine Months 2024 2023 2024 2023 North America $ 1,687 $ 1,643 $ 4,929 $ 5,086 Latin America 1,689 1,681 5,084 4,923 Europe & Africa (1) 2,434 2,091 7,199 6,095 Middle East & Asia 3,302 2,842 9,650 7,877 Other 47 53 143 164 $ 9,159 $ 8,310 $ 27,005 $ 24,145 (1) Includes Russia and the Caspian region. North America and International revenue disaggregated by segment was as follows: (Stated in millions) Third Quarter 2024 North America International Other Total Digital & Integration $ 258 $ 830 $ - $ 1,088 Reservoir Performance 145 1,676 2 1,823 Well Construction 581 2,675 56 3,312 Production Systems 723 2,373 7 3,103 Eliminations & other ( 20 ) ( 129 ) ( 18 ) ( 167 ) $ 1,687 $ 7,425 $ 47 $ 9,159 Third Quarter 2023 North America International Other Total Digital & Integration $ 242 $ 737 $ 3 $ 982 Reservoir Performance 125 1,554 1 1,680 Well Construction 663 2,707 60 3,430 Production Systems 626 1,740 1 2,367 Eliminations & other ( 13 ) ( 124 ) ( 12 ) ( 149 ) $ 1,643 $ 6,614 $ 53 $ 8,310 Nine Months 2024 North America International Other Total Digital & Integration $ 784 $ 2,303 $ 4 $ 3,091 Reservoir Performance 409 4,952 7 5,368 Well Construction 1,776 8,151 163 10,090 Production Systems 2,009 6,915 22 8,946 Eliminations & other ( 49 ) ( 388 ) ( 53 ) ( 490 ) $ 4,929 $ 21,933 $ 143 $ 27,005 Nine Months 2023 North America International Other Total Digital & Integration $ 727 $ 2,091 $ 4 $ 2,822 Reservoir Performance 375 4,446 5 4,826 Well Construction 2,095 7,782 175 10,052 Production Systems 1,931 4,943 14 6,888 Eliminations & other ( 42 ) ( 367 ) ( 34 ) ( 443 ) $ 5,086 $ 18,895 $ 164 $ 24,145 Revenue in excess of billings related to contracts where revenue is recognized over time was $ 0.4 billion at both September 30, 2024 and December 31, 2023. Such amounts are included within Receivables less allowance for doubtful accounts in the Consolidated Balance Sheet . Total backlog was $ 5.2 billion at September 30, 2024, of which approximately 60 % is expected to be recognized as revenue over the next 12 months. Billings and cash collections in excess of revenue was $ 2.0 b illion at both September 30, 2024 and December 31, 2023. Such amounts are included within Accounts payable and accrued liabilities in the Consolidated Balance Sheet . |