Business Segment and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents information on our business segments.


	Three Months Ended
	March 31,
Millions of dollars	2026	2025
Revenue:
Completion and Production	$3,016	$3,120
Drilling and Evaluation	2,386	2,297
Total revenue	$5,402	$5,417
Operating income:
Completion and Production	$439	$531
Drilling and Evaluation	351	352
Total operations	790	883
Corporate and other (a)	(69)	(66)
SAP S4 upgrade expense	(42)	(30)
Impairments and other charges (b)	—	(356)
Total operating income	$679	$431
Interest expense, net of interest income	$(82)	$(86)
Other, net	(28)	(39)
Income before income taxes	$569	$306
Capital expenditures:
Completion and Production	$109	$178
Drilling and Evaluation	83	124
Total capital expenditures	$192	$302
Depreciation, depletion, and amortization:
Completion and Production	$163	$152
Drilling and Evaluation	126	121
Corporate and other	6	4
Total depreciation, depletion, and amortization	$295	$277


(a)	Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and includes amortization expense associated with intangible assets recorded as a result of acquisitions.
(b)	For the three months ended March 31, 2025, the amount includes a $201 million charge attributable to Completion and Production, an $85 million charge attributable to Drilling and Evaluation, and a $70 million charge attributable to Corporate and other. See Notes to Condensed Consolidated Financial Statements, Note 2 for further discussion on impairments and other charges.

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.


	Three Months Ended
	March 31,
	2026
Millions of dollars	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,271	$913
Compensation	479	487
Depreciation, depletion, and amortization	163	126
Other	664	509
Total segment operating expenses	$2,577	$2,035


	Three Months Ended
	March 31,
	2025
Millions of dollars	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,300	$882
Compensation	474	467
Depreciation, depletion, and amortization	152	121
Other	663	475
Total segment operating expenses	$2,589	$1,945

Other segment operating expenses primarily consist of maintenance, overhead allocations, facilities cost, and other

miscellaneous costs.

The following table presents total assets by segment.


(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.