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PROGRESS COLLECTIONS AND DEFERRED INCOME
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
PROGRESS COLLECTIONS AND DEFERRED INCOME PROGRESS COLLECTIONS AND DEFERRED INCOME
Contract liabilities include progress collections, which reflect billings in excess of revenue, and deferred income on long-term contracts to construct technically complex equipment, and provide long-term product service agreements and extended maintenance arrangements. Contract liabilities consist of the following:
March 31, 2026December 31, 2025
Equipment contracts and other service agreements$5,349 $5,249 
Long-term product service agreements518 507 
Progress collections5,867 5,756 
Deferred income132 148 
Progress collections and deferred income (contract liabilities)$5,999 $5,904 
Revenue recognized during the three months ended March 31, 2026 and 2025 that was included in the contract liabilities at the beginning of the period was $1,610 million and $1,546 million, respectively.
REVENUE RELATED TO CONTRACTS WITH CUSTOMERS
DISAGGREGATED REVENUE
The Company disaggregates its revenue from contracts with customers by product line for both the OFSE and IET segments, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. In addition, management views revenue from contracts with customers for OFSE by geography based on the location to where the product is shipped or the services are performed.
The series of tables below present the Company's revenue disaggregated by these categories.
Three Months Ended March 31,
Total Revenue20262025
Well Construction$843 $892 
Completions, Intervention, and Measurements
883 925 
Production Solutions898 899 
Subsea & Surface Pressure Systems613 782 
Oilfield Services & Equipment3,237 3,499 
Gas Technology Equipment
1,665 1,456 
Gas Technology Services
791 592 
Total Gas Technology2,456 2,047 
Industrial Products
491 445 
Industrial Solutions185 258 
Total Industrial Technology676 703 
Climate Technology Solutions218 178 
Industrial & Energy Technology3,350 2,928 
Total$6,587 $6,427 
Three Months Ended March 31,
Oilfield Services & Equipment
Geographic Revenue
20262025
North America$927 $922 
Latin America600 568 
Europe/CIS/Sub-Saharan Africa558 580 
Middle East/Asia1,152 1,429 
Oilfield Services & Equipment$3,237 $3,499 
REMAINING PERFORMANCE OBLIGATIONS
As of March 31, 2026, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $36.1 billion. As of March 31, 2026, the Company expects to recognize revenue of approximately 58%, 74% and 89% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as the Company fulfills the related remaining performance obligations.