Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2018	Feb. 08, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	NOV
Entity Registrant Name	NATIONAL OILWELL VARCO INC
Entity Central Index Key	0001021860
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		383,433,346
Entity Public Float			$ 16.6
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,427	$ 1,437
Receivables, net	2,101	2,015
Inventories, net	2,986	3,003
Contract assets	565	495
Prepaid and other current assets	200	267
Total current assets	7,279	7,217
Property, plant and equipment, net	2,797	3,002
Deferred income taxes	11	13
Goodwill	6,264	6,227
Intangibles, net	3,020	3,301
Investment in unconsolidated affiliates	301	309
Other assets	124	137
Total assets	19,796	20,206
Current liabilities:
Accounts payable	722	510
Accrued liabilities	1,088	1,238
Contract liabilities	458	519
Current portion of long-term debt and short-term borrowings	7	6
Accrued income taxes	66	81
Total current liabilities	2,341	2,354
Long-term debt	2,704	2,706
Deferred income taxes	564	677
Other liabilities	298	309
Total liabilities	5,907	6,046
Commitments and contingencies
Stockholders’ equity:
Common stock - par value $.01; 1 billion shares authorized; 383,426,654 and 380,104,970 shares issued and outstanding at December 31, 2018 and December 31, 2017	4	4
Additional paid-in capital	8,390	8,234
Accumulated other comprehensive loss	(1,437)	(1,110)
Retained earnings	6,862	6,966
Total Company stockholders' equity	13,819	14,094
Noncontrolling interests	70	66
Total stockholders’ equity	13,889	14,160
Total liabilities and stockholders’ equity	$ 19,796	$ 20,206

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	383,426,654	380,104,970
Common stock, shares outstanding	383,426,654	380,104,970

Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue
Revenue	$ 8,453	$ 7,304	$ 7,251
Cost of revenue
Cost of revenue	7,009	6,412	7,352
Gross profit (loss)	1,444	892	(101)
Selling, general and administrative	1,233	1,169	1,338
Goodwill and intangible asset impairment			972
Operating profit (loss)	211	(277)	(2,411)
Interest and financial costs	(93)	(102)	(105)
Interest income	25	25	15
Equity loss in unconsolidated affiliates	(3)	(5)	(21)
Other expense, net	(99)	(33)	(101)
Income (loss) before income taxes	41	(392)	(2,623)
Provision (benefit) for income taxes	63	(156)	(207)
Net loss	(22)	(236)	(2,416)
Net income (loss) attributable to noncontrolling interests	9	1	(4)
Net loss attributable to Company	$ (31)	$ (237)	$ (2,412)
Net loss attributable to Company per share:
Basic	$ (0.08)	$ (0.63)	$ (6.41)
Diluted	(0.08)	(0.63)	(6.41)
Cash dividends per share	$ 0.20	$ 0.20	$ 0.61
Weighted average shares outstanding:
Basic	378	377	376
Diluted	378	377	376
Sales [Member]
Revenue
Revenue	$ 5,699	$ 4,948	$ 5,351
Cost of revenue
Cost of revenue	4,883	4,499	5,671
Service [Member]
Revenue
Revenue	1,612	1,472	1,296
Cost of revenue
Cost of revenue	1,257	1,127	835
Rental [Member]
Revenue
Revenue	1,142	884	604
Cost of revenue
Cost of revenue	$ 869	$ 786	$ 846

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (22)	$ (236)	$ (2,416)
Other comprehensive income (loss):
Currency translation adjustments	(292)	272	(97)
Derivative financial instruments, net of tax	(21)	46	166
Change in defined benefit plans, net of tax	(14)	24	32
Comprehensive income (loss)	(349)	106	(2,315)
Net income (loss) attributable to noncontrolling interests	9	1	(4)
Comprehensive income (loss) attributable to Company	$ (358)	$ 105	$ (2,311)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (22)	$ (236)	$ (2,416)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	690	698	703
Deferred income taxes	(63)	(341)	(198)
Stock-based compensation	110	124	107
Excess tax benefit from stock-based compensation			7
Equity (income) loss in unconsolidated affiliates	3	5	21
Dividend from unconsolidated affiliate			6
Goodwill and intangible asset impairment			972
Provision for inventory losses	49	114	606
Other, net	(7)	20	108
Change in operating assets and liabilities, net of acquisitions:
Receivables	(72)	72	845
Inventories	(7)	229	782
Contract assets	(68)	170	646
Prepaid and other current assets	67	130	102
Accounts payable	196	86	(243)
Accrued liabilities	(186)	(130)	(773)
Contract liabilities	(62)	(160)	(366)
Income taxes payable	(15)	(44)	(146)
Other assets/liabilities, net	(92)	95	197
Net cash provided by operating activities	521	832	960
Cash flows from investing activities:
Purchases of property, plant and equipment	(244)	(192)	(284)
Business acquisitions, net of cash acquired	(280)	(86)	(230)
Other, net	67	33	26
Net cash used in investing activities	(457)	(245)	(488)
Cash flows from financing activities:
Borrowings against lines of credit and other debt			3,972
Payments against lines of credit and other debt	(8)	(506)	(4,872)
Cash dividends paid	(76)	(76)	(230)
Activity under stock incentive plans	54	(3)	4
Excess tax benefit from stock-based compensation			(7)
Other		(10)	(8)
Net cash used in financing activities	(30)	(595)	(1,141)
Effect of exchange rates on cash	(44)	37	(3)
Increase (decrease) in cash and cash equivalents	(10)	29	(672)
Cash and cash equivalents, beginning of period	1,437	1,408	2,080
Cash and cash equivalents, end of period	1,427	1,437	1,408
Cash payments during the period for:
Interest	90	97	101
Income taxes	$ 64	$ 50	$ 181

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Stock-Based Compensation on Tender Offer [Member]	Common Stock [Member]	Additional Paid in Capital [Member]	Additional Paid in Capital [Member] Stock-Based Compensation on Tender Offer [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Loss) [Member]	Total Company Stockholders' Equity [Member]	Total Company Stockholders' Equity [Member] Stock-Based Compensation on Tender Offer [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2015	$ 16,460		$ 4	$ 8,005		$ (1,553)	$ 9,927	$ 16,383		$ 77
Begining Balance, shares at Dec. 31, 2015			376
Net loss	(2,416)						(2,412)	(2,412)		(4)
Other comprehensive income (loss), net	101					101		101
Cash dividends, per common share	(230)						(230)	(230)
Noncontrolling interest	(10)									(10)
Stock-based compensation	87			87				87
Common stock issued	4			4				4
Common stock issued, shares			2
Stock issued in acquisition	18			18				18
Stock issued in acquisition, Shares			1
Withholding taxes	(4)			(4)				(4)
Excess tax benefit from stock-based compensation	(7)			(7)				(7)
Ending Balance at Dec. 31, 2016	14,003		$ 4	8,103		(1,452)	7,285	13,940		63
Ending Balance, shares at Dec. 31, 2016			379
Net loss	(236)						(237)	(237)		1
Other comprehensive income (loss), net	342					342		342
Cash dividends, per common share	(76)						(76)	(76)
Adoption of new accounting standards	(5)			1			(6)	(5)
Noncontrolling interest	2									2
Stock-based compensation	105	$ 20		105	$ 20			105	$ 20
Common stock issued	13			13				13
Common stock issued, shares			1
Withholding taxes	(8)			(8)				(8)
Ending Balance at Dec. 31, 2017	14,160		$ 4	8,234		(1,110)	6,966	14,094		66
Ending Balance, shares at Dec. 31, 2017			380
Net loss	(22)						(31)	(31)		9
Other comprehensive income (loss), net	(327)					(327)		(327)
Cash dividends, per common share	(76)						(76)	(76)
Adoption of new accounting standards	3						3	3
Noncontrolling interest	(5)									(5)
Stock-based compensation	110			110				110
Common stock issued	54			54				54
Common stock issued, shares			3
Withholding taxes	(8)			(8)				(8)
Ending Balance at Dec. 31, 2018	$ 13,889		$ 4	$ 8,390		$ (1,437)	$ 6,862	$ 13,819		$ 70
Ending Balance, shares at Dec. 31, 2018			383

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2018

Organization Consolidation And Presentation Of Financial Statements Abstract

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Nature of Business

We design, construct, manufacture and sell comprehensive systems, components, and products used in oil and gas drilling and production, provide oilfield services and supplies, and distribute products and provide supply chain integration services to the upstream oil and gas industry. Our revenues and operating results are directly related to the level of worldwide oil and gas drilling and production activities and the profitability and cash flow of oil and gas companies, drilling contractors and oilfield service companies, which in turn are affected by current and anticipated prices of oil and gas. Oil and gas prices have been, and are likely to continue to be, volatile.

Basis of Consolidation

The accompanying Consolidated Financial Statements include the accounts of National Oilwell Varco, Inc. and its consolidated subsidiaries. Certain reclassifications have been made to the prior year financial statements in order for them to conform with the 2018 presentation. All significant intercompany transactions and balances have been eliminated in consolidation. Investments that are not wholly-owned, but where we exercise control, are fully consolidated with the equity held by minority owners and their portion of net income (loss) reflected as noncontrolling interests in the accompanying consolidated financial statements. Investments in unconsolidated affiliates, over which we exercise significant influence, but not control, are accounted for by the equity method.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Fair Value of Financial Instruments

The carrying amounts of financial instruments including cash and cash equivalents, receivables, and payables approximated fair value because of the relatively short maturity of these instruments. Cash equivalents include only those investments having a maturity date of three months or less at the time of purchase.

Derivative Financial Instruments

The Company records all derivative financial instruments at their fair value in its Consolidated Balance Sheet. Except for certain non-designated hedges discussed below, all derivative financial instruments that the Company holds are designated as cash flow hedges and are highly effective in offsetting movements in the underlying risks. Such arrangements typically have terms between two and 24 months, but may have longer terms depending on the underlying cash flows being hedged, typically related to the projects in our backlog.

Inventories

Inventories are stated at the lower of cost or estimated net realizable value using the first-in, first-out or average cost methods. Inventories consist of raw materials and supplies, work-in-process and finished goods and purchased products. The Company determines reserves for inventory based on historical usage of inventory on-hand, assumptions about future demand and market conditions, and estimates about potential alternative uses, which are limited. The Company evaluates inventory quarterly using the best information available at the time to inform our assumptions and estimates about future demand and resulting sales volumes, and recognizes reserves as necessary to properly state inventory.

Based on an update of our assumptions at each point in time related to estimates of future demand, we recorded charges for additions to inventory reserves of $49 million, $114 million, and $606 million for the years ended December 31, 2018, 2017, and 2016, respectively, consisting primarily of obsolete and surplus inventories. At December 31, 2018 and 2017, inventory reserves totaled $644 million and $800 million, or 17.7% and 21.0% of gross inventory, respectively.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Expenditures for major improvements that extend the lives of property and equipment are capitalized while minor replacements, maintenance and repairs are charged to operations as incurred. Disposals are removed at cost less accumulated depreciation with any resulting gain or loss reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of individual items. Depreciation expense, which includes the amortization of assets recorded under capital leases, was $349 million, $359 million and $370 million for the years ended December 31, 2018, 2017 and 2016, respectively. Accumulated depreciation of $2,687 million as of December 31, 2018 included accumulated depreciation of $30 million for capital leases. The estimated useful lives of the major classes of property, plant and equipment are included in Note 5 to the consolidated financial statements.

We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets are impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The carrying value of assets used in operations that are not recoverable is reduced to fair value if lower than carrying value. In determining the fair market value of the assets, we consider market trends and recent transactions involving sales of similar assets, or when not available, discounted cash flow analysis. Impairments of long-lived assets were $21 million, $10 million and $54 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Acquisitions and Investments

Acquisitions of businesses are accounted for using the acquisition method of accounting, and the financial statements include the results of the acquired operations from the respective dates of acquisition.

The purchase price of the acquired entities is preliminarily allocated to the net assets acquired and liabilities assumed based on the estimated fair value at the dates of acquisition, with any excess of cost over the fair value of net assets acquired, including intangibles, recognized as goodwill. Subsequent changes to preliminary amounts are made prospectively.

The Company paid cash of $280 million, $86 million and $230 million for acquisitions for the years ended December 31, 2018, 2017 and 2016, respectively. These acquisitions did not have a material effect on the Company’s operating results, cash flows or financial position

Foreign Currency

Certain foreign operations, including our operations in Norway, use the U.S. dollar as the functional currency. The functional currency for most of our foreign operations is the local currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income (loss). Revenues and expenses are translated at average exchange rates in effect during the period. Accordingly, financial statements of these foreign subsidiaries are remeasured to U.S. dollars for consolidation purposes using current rates of exchange for monetary assets and liabilities and historical rates of exchange for nonmonetary assets and related elements of expense. Revenue and expense elements are remeasured at rates that approximate the rates in effect on the transaction dates. For all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. Net foreign currency transaction losses were $52 million, $3 million and $10 million for the years ending December 31, 2018, 2017 and 2016, respectively, and are included in other income (expense) in the accompanying statement of income.

Revenue Recognition

The majority of the Company’s revenue streams record revenue at a point in time when a performance obligation has been satisfied by transferring control of promised goods or services to a customer. Products and services are sold or rented based upon a fixed or determinable price and do not generally include right of return or other significant post-delivery obligations. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Payment terms and conditions vary by contract type. We have elected to apply the practical expedient that does not require an adjustment for a financing component if, at contract inception, the period between when we transfer the promised goods or service to the customer and when the customer pays for the goods or service is one year or less. Shipping and handling costs are recognized when incurred and are treated as costs to fulfill the original performance obligation instead of as a separate performance obligation.

Revenue is often generated from contracts that include multiple performance obligations. Using significant judgement, the Company considers the degree of customization, integration and interdependency of the related products and services when assessing distinct performance obligations within one contract. Stand-alone selling price (“SSP”) for each distinct performance obligation is generally determined using the price at which the products and services would be sold separately to the customer. Discounts, when provided, are allocated based on the relative SSP of the various products and services.

For revenue that is not recognized at a point in time, the Company follows accounting guidance for revenue recognized over time, as follows:

Revenue Recognition under Long-term Construction Contracts

Revenue is recognized over-time for certain long-term construction contracts in the Completion & Production Solutions and Rig Technologies segments. These contracts include custom designs for customer-specific applications that are unique and require significant engineering efforts. Revenue is recognized as work progresses on each contract. Right to payment is enforceable for performance completed to date, including a reasonable profit.

Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost (input) measure of progress for our contracts because it best depicts the transfer of assets to the customer which occurs as we incur costs. Under the cost-to-cost measure of progress, progress towards completion of each contract is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. These costs include labor, materials, subcontractors’ costs, and other direct costs. Any expected losses on a project are recorded in full in the period in which the loss becomes probable.

These long-term construction contracts generally include a significant service of integrating a complex set of tasks and components into a single project or capability, so are accounted for as one performance obligation.

Estimating total revenue and cost at completion of long-term construction contracts is complex, subject to many variables and requires significant judgment. It is common for our long-term contracts to contain late delivery fees, work performance guarantees, and other provisions that can either increase or decrease the transaction price. We estimate variable consideration as the most likely amount we expect to receive. We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur, or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on an assessment of our anticipated performance and historical, current and forecasted information that is reasonably available to us. Net revenue recognized from performance obligations satisfied in previous periods was $65 million for the year ended December 31, 2018 primarily due to change orders.

Service and Repair Work

For service and repair contracts, revenue is recognized over time. We generally use the output method to measure progress on service contracts due to the manner in which the customer receives and derives value from the services provided. For repair contracts, we generally use the cost-to-cost measure of progress because it best depicts the transfer of assets to the customer.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of firm orders for all revenue streams for which work has not been performed on contracts with an original expected duration of one year or more. We do not disclose the remaining performance obligations of royalty contracts, service contracts for which there is a right to invoice, and short-term contracts that are expected to have a duration of one year or less.

As of December 31, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,813 million. The Company expects to recognize approximately $887 million in revenue for the remaining performance obligations in 2019 and $926 million in 2020 and thereafter.

Costs to Obtain and Fulfill a Contract

We recognize an asset for the incremental costs of obtaining a contract, such as sales commissions, with a customer when we expect the benefit of those costs to be longer than one year. Costs to fulfill a contract, such as set-up and mobilization costs, are also capitalized when we expect to recover those costs. These contract costs are deferred and amortized over the period of contract performance. Total capitalized costs to obtain and fulfill a contract and the related amortization were immaterial during the periods presented and are included in other current and long-term assets on our consolidated balance sheets. We apply the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less.

Service and Product Warranties

The Company provides service and warranty policies on certain of its products. The Company accrues liabilities under service and warranty policies based upon specific claims and a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience change. In addition, the Company incurs discretionary costs to service its products in connection with product performance issues and accrues for them when they are encountered. The Company monitors the actual cost of performing these discretionary services and adjusts the accrual based on the most current information available.

The changes in the carrying amount of service and product warranties are as follows (in millions):

Balance at December 31, 2016	$	172
Net provisions for warranties issued during the year		46
Amounts incurred		(86	)
Currency translation adjustments		3
Balance at December 31, 2017	$	135
Net provisions for warranties issued during the year		38
Amounts incurred		(67	)
Currency translation adjustments		(1	)
Balance at December 31, 2018	$	105

Income Taxes

The liability method is used to account for income taxes. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to amounts which are more likely than not to be realized.

Concentration of Credit Risk

We grant credit to our customers, which operate primarily in the oil and gas industry. Concentrations of credit risk are limited because we have a large number of geographically diverse customers, thus spreading trade credit risk. We control credit risk through credit evaluations, credit limits and monitoring procedures. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral, but may require letters of credit for certain international sales. Credit losses are provided for in the financial statements. Allowances for doubtful accounts are determined based on a continuous process of assessing the Company’s portfolio on an individual customer basis taking into account current market conditions and trends. This process consists of a thorough review of historical collection experience, current aging status of the customer accounts, and financial condition of the Company’s customers. Based on a review of these factors, the Company will establish or adjust allowances for specific customers. Accounts receivable are net of allowances for doubtful accounts of approximately $161 million and $187 million at December 31, 2018 and 2017, respectively.

Stock-Based Compensation

Compensation expense for the Company’s stock-based compensation plans is measured using the fair value method. The fair value of stock option grants and restricted stock is amortized to expense using the straight-line method over the shorter of the vesting period or the remaining employee service period.

The Company provides compensation benefits to employees and non-employee directors under share-based payment arrangements, including various employee stock option plans.

Environmental Liabilities

When environmental assessments or remediations are probable and the costs can be reasonably estimated, remediation liabilities are recorded on an undiscounted basis and are adjusted as further information develops or circumstances change.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect reported and contingent amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Such estimates include but are not limited to, estimated losses on accounts receivable, estimated costs and related margins of projects accounted for over time, estimated realizable value on excess and obsolete inventory, contingencies, estimated liabilities for litigation exposures and liquidated damages, estimated warranty costs, estimates related to pension accounting, estimates related to the fair value of reporting units for purposes of assessing goodwill and other indefinite-lived intangible assets for impairment and estimates related to deferred tax assets and liabilities, including valuation allowances on deferred tax assets. Actual results could differ from those estimates.

Contingencies

The Company accrues for costs relating to litigation claims and other contingent matters, including liquidated damage liabilities, when such liabilities become probable and reasonably estimable. In circumstances where the most likely outcome of a contingency can be reasonably estimated, we accrue a liability for that amount. Where the most likely outcome cannot be estimated, a range of potential losses is established and if no one amount in that range is more likely than others, the low end of the range is accrued. Such estimates may be based on advice from third parties or on management’s judgment, as appropriate. Revisions to contingent liabilities are reflected in income in the period in which different facts or information become known or circumstances change that affect the Company’s previous judgments with respect to the likelihood or amount of loss. Amounts paid upon the ultimate resolution of contingent liabilities may be materially different from previous estimates and could require adjustments to the estimated reserves to be recognized in the period such new information becomes known.

Net Loss Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):

	Years Ended December 31,
	2018			2017			2016
Numerator:
Net loss attributable to Company	$	(31	)	$	(237	)	$	(2,412	)
Denominator:
Basic—weighted average common shares outstanding		378			377			376
Dilutive effect of employee stock options and other unvested stock awards		—			—			—
Diluted outstanding shares		378			377			376
Basic loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Diluted loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Cash dividends per share	$	0.20		$	0.20		$	0.61

Net loss attributable to Company allocated to participating securities was immaterial for the years ended December 31, 2018, 2017 and 2016 and therefore not excluded from net loss attributable to Company per share calculation. The Company had stock options outstanding that were anti-dilutive totaling 20 million, 12 million, and 14 million at December 31, 2018, 2017 and 2016, respectively.

Recently Adopted Accounting Standards

In March 2017, the FASB issued Accounting Standard Update No. 2017-07 “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (ASU 2017-07). This update requires that an employer report the service cost component in the same line item as other compensation costs and separately from other components of net benefit cost. ASU 2017-07 is effective for fiscal periods beginning after December 15, 2017, and for interim periods within those fiscal years. The Company adopted this update on January 1, 2018 with no material impact.

In August 2016, the FASB issued Accounting Standard Update No. 2016-15 “Classification of Certain Cash Receipts and Cash Payments” (ASU 2016-15). This update amends Accounting Standard Codification Topic No. 230 “Statement of Cash Flows” and provides guidance and clarification on presentation of certain cash flow issues. ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017, and for interim periods within those fiscal years. The Company adopted this update on January 1, 2018 with no material impact.

In May 2014, the FASB issued Accounting Standard Update No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09), which supersedes the revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU proscribes a five-step model for determining when and how revenue is recognized. Under the model, an entity will recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 is effective for fiscal periods beginning after December 15, 2017. The Company adopted this update on January 1, 2018, using the modified retrospective approach, in which an immaterial cumulative effect adjustment was made to retained earnings. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the year ended December 31, 2018.

Recently Issued Accounting Standards

In August 2017, the FASB issued Accounting Standard Update No. 2017-12 “Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities” (ASU 2017-12). This update improves the financial reporting of hedging relationships and simplifies the application of the hedge accounting guidance. ASU 2017-12 is effective for fiscal periods beginning after December 15, 2018, and for interim periods within those fiscal years. Early adoption is permitted in any interim period after issuance of ASU 2017-12. The Company will adopt ASU No. 2017-12 effective January 1, 2019 with an immaterial effect on its consolidated financial position and results of operations.

In February 2016, the FASB issued ASC Topic 842, “Leases” (ASC Topic 842), which supersedes the lease requirements in ASC Topic No. 840 “Leases” and most industry-specific guidance. This update increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASC Topic 842 is effective for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years.

The Company’s internal team, assisted by an accounting and consulting firm, has implemented and is testing new software, processes, procedures and controls to correctly account for leases under the new requirements. We currently estimate implementing ASC Topic 842 in the first quarter of 2019 will gross-up the Company’s balance sheet with additional assets and liabilities in the range of approximately $500 to $650 million. Implementing the new standard will not affect the Company’s compliance with the debt-to-capitalization covenant of our $3 billion revolving credit facility (see Note 8) because that agreement grandfathers the prior treatment of operating leases for purposes of the calculation.

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

3. Derivative Financial Instruments

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is foreign currency exchange rate risk. Forward contracts against various foreign currencies are entered into to manage the foreign currency exchange rate risk on forecasted revenues and expenses denominated in currencies other than the functional currency of the operating unit (cash flow hedge). Other forward exchange contracts against various foreign currencies are entered into to manage the foreign currency exchange rate risk associated with certain firm commitments denominated in currencies other than the functional currency of the operating unit (fair value hedge). In addition, the Company will enter into non-designated forward contracts against various foreign currencies to manage the foreign currency exchange rate risk on recognized nonfunctional currency monetary accounts (non-designated hedge).

At December 31, 2018, the Company has determined that the fair value of its derivative financial instruments representing assets of $6 million and liabilities of $36 million (currency related derivatives) are determined using level 2 inputs (inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability) in the fair value hierarchy as the fair value is based on publicly available foreign exchange and interest rates at each financial reporting date. At December 31, 2018, the net fair value of the Company’s foreign currency forward contracts totaled a net liability of $30 million.

At December 31, 2018, the Company’s financial instruments do not contain any credit-risk-related or other contingent features that could cause accelerated payments when the Company’s financial instruments are in net liability positions. We do not use derivative financial instruments for trading or speculative purposes.

Cash Flow Hedging Strategy

To protect against the volatility of forecasted foreign currency cash flows resulting from forecasted revenues and expenses, the Company has instituted a cash flow hedging program. The Company hedges portions of its forecasted revenues and expenses denominated in nonfunctional currencies with forward contracts. When the U.S. dollar strengthens against the foreign currencies, the decrease in present value of future foreign currency revenues and expenses is offset by gains in the fair value of the forward contracts designated as hedges. Conversely, when the U.S. dollar weakens, the increase in the present value of future foreign currency cash flows is offset by losses in the fair value of the forward contracts.

For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is subject to a particular currency risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of Other Comprehensive Income (Loss) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings (e.g., in “revenues” when the hedged transactions are cash flows associated with forecasted revenues). The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any (i.e., the ineffective portion), or hedge components excluded from the assessment of effectiveness, is recognized in the Consolidated Statements of Income (Loss) during the current period.

The Company had the following outstanding foreign currency forward contracts that were entered into to hedge nonfunctional currency cash flows from forecasted revenues and expenses (in millions):

Currency Denomination

Foreign Currency

December 31, 2018

December 31, 2017

Norwegian Krone

NOK

4,118

NOK

4,013

Japanese Yen

JPY

121

JPY

982

U.S. Dollar

USD

163

Euro

EUR

120

Danish Krone

DKK

British Pound Sterling

GBP

Non-designated Hedging Strategy

The Company enters into forward exchange contracts to hedge certain nonfunctional currency monetary accounts. The purpose of the Company’s foreign currency hedging activities is to protect the Company from risk that the eventual U.S. dollar equivalent cash flows from the nonfunctional currency monetary accounts will be adversely affected by changes in the exchange rates.

For derivative instruments that are non-designated, the gain or loss on the derivative instrument subject to the hedged risk (i.e., nonfunctional currency monetary accounts) is recognized in other income (expense), net in the Consolidated Statement of Income (Loss).

The Company had the following outstanding foreign currency forward contracts that hedge the fair value of nonfunctional currency monetary accounts (in millions):

Currency Denomination

Foreign Currency

December 31, 2018

December 31, 2017

Norwegian Krone

NOK

1,111

NOK

1,734

U.S. Dollar

USD

535

USD

463

Mexican Peso

MXN

204

MXN

—

South African Rand

ZAR

124

ZAR

150

Euro

EUR

101

EUR

Danish Krone

DKK

British Pound Sterling

GBP

Russian Ruble

RUB

—

RUB

2,699

The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions):

	Fair Values of Derivative Instruments (In millions)
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet	December 31,				Balance Sheet	December 31,
	Location	2018		2017		Location	2018		2017
Derivatives designated as hedging instruments under ASC Topic 815

Foreign exchange contracts	Prepaid and other current assets	$	2	$	13	Accrued liabilities	$	17	$	3
Foreign exchange contracts	Other Assets		—		8	Other Liabilities		11		2
Total derivatives designated as hedging instruments under ASC Topic 815		$	2	$	21		$	28	$	5
Derivatives not designated as hedging instruments under ASC Topic 815

Foreign exchange contracts	Prepaid and other current assets	$	4	$	10	Accrued liabilities	$	6	$	5
Foreign exchange contracts	Other Assets		—		2	Other Liabilities		2		1
Total derivatives not designated as hedging instruments under ASC Topic 815		$	4	$	12		$	8	$	6
Total derivatives		$	6	$	33		$	36	$	11

The Effect of Derivative Instruments on the Consolidated Statements of Income (Loss) ($ in millions)

Location of Gain (Loss)

Recognized in Income on

Amount of Gain (Loss)

Location of Gain (Loss)

Derivatives (Ineffective

Recognized in Income on

Reclassified from

Amount of Gain (Loss)

Portion and Amount

Derivatives (Ineffective

Derivatives Designated as

Amount of Gain (Loss)

Accumulated OCI into

Reclassified from

Excluded from

Portion and Amount

Hedging Instruments under

Recognized in OCI on

Income

Accumulated OCI into

Effectiveness

Excluded from

ASC Topic 815

Derivatives (Effective Portion) (a)

(Effective Portion)

Income (Effective Portion)

Testing)

Effectiveness Testing) (b)

Years Ended

December 31,

Years Ended

December 31,

Years Ended

December 31,

2018

2017

2018

2017

2018

2017

Revenue

(2)

Cost of revenue

Foreign exchange contracts

(25)

Cost of revenue

(19)

Other income (expense), net

(9)

Total

(25)

(11)

(7)

Derivatives Not Designated as	Location of Gain (Loss)	Amount of Gain (Loss)
Hedging Instruments under	Recognized in Income	Recognized in Income on
ASC Topic 815	on Derivatives	Derivatives
		Years Ended December 31,
		2018	2017
Foreign exchange contracts	Other income (expense), net	(30)	58
Total		(30)	58

Inventories, net

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventories, net

4. Inventories, net

Inventories consist of (in millions):

	December 31,
	2018		2017
Raw materials and supplies	$	614	$	656
Work in process		501		513
Finished goods and purchased products		1,871		1,834
Total	$	2,986	$	3,003

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

5. Property, Plant and Equipment, net

Property, plant and equipment consist of (in millions):

	Estimated	December 31,
	Useful Lives	2018			2017
Land		$	227		$	252
Buildings and improvements	5-35 Years		1,271			1,340
Operating equipment	3-15 Years		3,140			3,169
Rental equipment	3-12 Years		597			581
Capital leases	20-24 Years		249			219
			5,484			5,561
Less: Accumulated Depreciation			(2,687	)		(2,559	)
		$	2,797		$	3,002

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Intangible Assets

The Company has approximately $6.3 billion of goodwill and $3.0 billion of identified intangible assets at December 31, 2018.

Goodwill is identified by segment as follows (in millions):

	Wellbore Technologies			Completion & Production Solutions			Rig Technologies			Total
Balance at December 31, 2016	$	2,874		$	2,058		$	1,135		$	6,067
Goodwill acquired and adjusted during period		37			41			11			89
Currency translation adjustments		45			23			3			71
Balance at December 31, 2017	$	2,956		$	2,122		$	1,149		$	6,227
Goodwill acquired and adjusted during period		64			(33	)		71			102
Currency translation adjustments		(9	)		(48	)		(8	)		(65	)
Balance at December 31, 2018 (1)	$	3,011		$	2,041		$	1,212		$	6,264

(1)

Accumulated goodwill impairment was $2,457 million as of December 31, 2018.

Identified intangible assets with determinable lives consist primarily of customer relationships, trademarks, trade names, patents, and technical drawings acquired in acquisitions, and are being amortized in a manner consistent with the underlying cash flows over the estimated useful lives of 2-30 years. Amortization expense of identified intangibles is expected to be approximately $336 million, $319 million, $308 million, $302 million, and $280 million for the next five years. Included in intangible assets are $383 million of indefinite-lived trade names.

The net book values of identified intangible assets are identified by segment as follows (in millions):

	Wellbore Technologies			Completion & Production Solutions			Rig Technologies			Total
Balance at December 31, 2016	$	2,064		$	1,191		$	275		$	3,530
Additions to intangible assets		18			41			2			61
Amortization		(208	)		(108	)		(23	)		(339	)
Currency translation adjustments		9			36			4			49
Balance at December 31, 2017	$	1,883		$	1,160		$	258		$	3,301
Additions to intangible assets		41			3			55			99
Amortization		(201	)		(111	)		(29	)		(341	)
Currency translation adjustments		12			(47	)		(4	)		(39	)
Balance at December 31, 2018	$	1,735		$	1,005		$	280		$	3,020

Identified intangible assets by major classification consist of the following (in millions):

	Gross		Accumulated Amortization			Net Book Value
December 31, 2017:
Customer relationships	$	4,074	$	(2,118	)	$	1,956
Trademarks		885		(317	)		568
Patents		602		(384	)		218
Indefinite-lived trade names		384		—			384
Other		499		(324	)		175
Total identified intangibles	$	6,444	$	(3,143	)	$	3,301
December 31, 2018:
Customer relationships	$	4,078	$	(2,352	)	$	1,726
Trademarks		891		(341	)		550
Patents		661		(414	)		247
Indefinite-lived trade names		383		—			383
Other		491		(377	)		114
Total identified intangibles	$	6,504	$	(3,484	)	$	3,020

Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill and intangibles with indefinite lives are not amortized. Goodwill is assigned to the reporting units that are expected to benefit from the synergies of a business combination. The recoverability of goodwill and indefinite-lived intangibles is assessed annually, or more frequently as needed when events or changes have occurred that would suggest an impairment of carrying value, by determining whether the fair values of the applicable reporting units exceed their carrying values.

The impairment analysis compares the reporting unit’s carrying value to the respective fair value. Fair value of the reporting unit is determined using significant unobservable inputs, or level 3 in the fair value hierarchy. These inputs are based on internal management estimates, forecasts and judgments, using discounted cash flow.

The discounted cash flow is based on management’s forecast of operating performance for the reporting unit. The two main assumptions used in measuring goodwill impairment, which bear the risk of change and could impact the Company’s goodwill impairment analysis, include the cash flow from operations from each reporting unit and its weighted average cost of capital. The starting point for each of the reporting unit’s cash flow from operations is the detailed annual plan or updated forecast. Cash flows beyond the updated forecasted operating plans were estimated using a terminal value calculation, which incorporated historical and forecasted financial cyclical trends for each reporting unit and considered long-term earnings growth rates. The financial and credit market volatility directly impacts our fair value measurement through our weighted average cost of capital that we use to determine our discount rate. During times of volatility, significant judgment must be applied to determine whether credit changes are a short-term or long-term trend.

In 2018, based on the annual impairment test, the calculated fair values for all of the Company’s reporting units were substantially in excess of the respective reporting unit’s carrying value with the exception of the Company’s Floating Production Systems business unit. Further deterioration in the offshore turret mooring systems and topside process modules market could lead to an impairment. This business unit has approximately $277 million in goodwill.

In July 2016, as a result of market indicators identified in the third quarter, the Company completed a step one impairment analysis for its Rig Offshore reporting unit and calculated a fair value below its carrying value requiring a step two analysis. The analysis compares the implied fair value of goodwill of a reporting unit to the carrying value of goodwill for the reporting unit. The implied fair value of goodwill is determined by deducting the fair value of a reporting unit’s identifiable assets and liabilities from the fair value of that reporting unit as a whole. Based on the step two analysis performed for the Rig Offshore reporting unit, the Company recorded a $972 million write-down of goodwill during the third quarter.

Management reviews finite-lived intangibles for indicators of impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Cash flows expected to be generated by the finite-lived intangibles are estimated over the intangible asset’s useful life based on updated projections on an undiscounted basis. If the evaluation indicates that the carrying value of the finite-lived intangible asset may not be recoverable, the potential impairment is measured at fair value.

Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Accrued Liabilities

7. Accrued Liabilities

Accrued liabilities consist of (in millions):

	December 31,
	2018		2017
Vendor costs	$	127	$	150
Compensation		331		345
Taxes (non income)		124		152
Warranty		105		135
Insurance		55		74
Fair value of derivatives		23		8
Commissions		34		58
Interest		7		7
Other		282		309
Total	$	1,088	$	1,238

Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

8. Debt

Debt consists of (in millions):

	December 31,
	2018		2017
$1.4 billion in Senior Notes, interest at 2.60% payable semiannually, principal due on December 1, 2022		1,394		1,392
$1.1 billion in Senior Notes, interest at 3.95% payable semiannually, principal due on December 1, 2042		1,088		1,088
Capital Leases and other debt		229		232
Total debt		2,711		2,712
Less current portion		7		6
Long-term debt	$	2,704	$	2,706

Principal payments of debt and capital leases for years subsequent to 2018 are as follows (in millions):

2019	$	7
2020		7
2021		7
2022		1,402
2023		8
Thereafter		1,280
	$	2,711

See Note 11 for additional details on future lease payments specific to capital leases.

On June 27, 2017, the Company entered into a new $3.0 billion credit agreement evidencing a five-year unsecured revolving credit facility, which expires on June 27, 2022, with a syndicate of financial institutions. This new credit facility replaced the Company’s previous $4.5 billion revolving credit facility. The Company has the right to increase the aggregate commitments under this new agreement to an aggregate amount of up to $4.0 billion upon the consent of only those lenders holding any such increase. Interest under the new multicurrency facility is based upon LIBOR, NIBOR or CDOR plus 1.125% subject to a ratings-based grid or the U.S. prime rate. The new credit facility contains a financial covenant regarding maximum debt-to-capitalization ratio of 60%. As of December 31, 2018, the Company was in compliance with a debt-to-capitalization ratio of 16.3%.

On November 29, 2017, the Company repaid in its entirety the $500 million of its 1.35% unsecured Senior Notes using available cash balances.

The Company has a commercial paper program under which borrowings are classified as long-term since the program is supported by the $3.0 billion, five-year credit facility. At December 31, 2018, there were no commercial paper borrowings, and there were no outstanding letters of credit issued under the credit facility, resulting in $3.0 billion of funds available under this credit facility.

The Company had $480 million of outstanding letters of credit at December 31, 2018, primarily in the U.S. and Norway, that are under various bilateral committed letter of credit facilities. Letters of credit are issued as bid bonds, advanced payment bonds and performance bonds.

At December 31, 2018 and 2017, the fair value of the Company’s unsecured Senior Notes approximated $2,211 million and $2,346 million, respectively. The fair value of the Company’s debt is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those or similar instruments. At December 31, 2018 and 2017, the carrying value of the Company’s unsecured Senior Notes approximated $2,482 million and $2,480 million, respectively.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

9. Employee Benefit Plans

We have benefit plans covering substantially all of our employees. Defined-contribution benefit plans cover most of the U.S. and Canadian employees, and benefits are based on years of service, a percentage of current earnings and matching of employee contributions. We also have defined contribution plans in Norway and the United Kingdom. For the years ended December 31, 2018, 2017 and 2016, expenses for defined-contribution plans were $68 million, $64 million, and $66 million, respectively, and all funding is current.

Certain retired or terminated employees of predecessor or acquired companies participate in a defined benefit plan in the United States. Approximately 43 employees represented by certain collective bargaining agreements continue to accrue benefits under the plan. In addition, approximately 1,694 U.S. retirees and spouses participate in defined benefit health care plans of predecessor or acquired companies that provide postretirement medical and life insurance benefits. Except for two locations represented by certain collective bargaining agreements, active employees are ineligible to participate in any of these U.S. defined benefit plans. Active employees based in the United Kingdom are ineligible to participate in any defined benefit plans.

During 2016, the Company settled its Norway defined benefit plan and transferred all participants to the defined-contribution plan. The impact on the defined benefit plans is reflected in the table below.

Net periodic benefit cost for our defined benefit plans aggregated ($3) million, $1 million and $5 million for the years ended December 31, 2018, 2017 and 2016, respectively.

The change in benefit obligation, plan assets and the funded status of the defined benefit pension plans in the United States, United Kingdom, Norway, Germany and the Netherlands and defined postretirement plans in the United States, using a measurement date of December 31, 2018 and 2017, is as follows (in millions):

	Pension benefits						Postretirement benefits
At year end	2018			2017			2018			2017
Benefit obligation at beginning of year	$	633		$	622		$	62		$	92
Service cost		1			1			—			—
Interest cost		18			20			2			3
Actuarial loss (gain)		(24	)		6			(8	)		(17	)
Benefits paid		(40	)		(31	)		(13	)		(14	)
Participants contributions		—			—			2			2
Exchange rate loss (gain)		(15	)		30			—			—
Plan amendments		4			—			—			—
Curtailments		—			—			—			(4	)
Settlements		(2	)		(15	)		—			—
Benefit obligation at end of year	$	575		$	633		$	45		$	62
Fair value of plan assets at beginning of year	$	588		$	543		$	—		$	—
Actual return		(21	)		57			—			—
Benefits paid		(40	)		(31	)		(13	)		(14	)
Company contributions		5			11			11			12
Participants contributions		—			—			2			2
Exchange rate gain (loss)		(13	)		24			—			—
Settlements		(2	)		(15	)		—			—
Other		—			(1	)		—			—
Fair value of plan assets at end of year	$	517		$	588		$	—		$	—
Funded status	$	(58	)	$	(45	)	$	(45	)	$	(62	)
Accumulated benefit obligation at end of year	$	572		$	630

Liabilities associated with the funded status of the defined benefit pension plans are included in the balances of accrued liabilities and other liabilities in the Consolidated Balance Sheet.

Defined Benefit Pension Plans

Assumed long-term rates of return on plan assets, discount rates and rates of compensation increases vary for the different plans according to the local economic conditions. The assumption rates used for benefit obligations are as follows:

	Years Ended December 31,
	2018	2017
Discount rate:
United States plan	3.90% - 4.20%	3.00% - 3.60%
International plans	1.80% - 2.90%	1.80% - 2.40%
Salary increase:
United States plan	N/A	N/A
International plans	1.80% - 3.40%	1.80% - 3.30%

The assumption rates used for net periodic benefit costs are as follows:

	Years Ended December 31,
	2018	2017	2016
Discount rate:
United States plan	3.00% - 3.60%	3.10% - 4.00%	3.20% - 4.20%
International plans	1.80% - 2.40%	1.80% - 2.80%	2.20% - 3.70%
Salary increase:
United States plan	N/A	N/A	N/A
International plans	1.80% - 3.30%	1.80% - 3.50%	2.00% - 4.20%
Expected return on assets:
United States plan	5.60%	5.60%	5.60%
International plans	1.80% - 4.00%	1.80% - 3.00%	1.80% - 3.00%

In determining the overall expected long-term rate of return for plan assets, the Company takes into consideration the historical experience as well as future expectations of the asset mix involved. As different investments yield different returns, each asset category is reviewed individually and then weighted for significance in relation to the total portfolio.

The majority of our plans have projected benefit obligations in excess of plan assets.

The Company expects to pay future benefit amounts on its defined benefit plans of approximately $33 million for each of the next five years and aggregate payments of $319 million.

Plan Assets

The Company and its investment advisers collaboratively reviewed market opportunities using historic and statistical data, as well as the actuarial valuation reports for the plans, to ensure that the levels of acceptable return and risk are well-defined and monitored. Currently, the Company’s management believes that there are no significant concentrations of risk associated with plan assets. Our pension investment strategy worldwide prohibits a direct investment in our own stock.

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets carried at fair value (in millions):

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
December 31, 2017:
Equity securities	$	161	$	—	$	161	$	—
Bonds		284		—		284		—
Other (insurance contracts)		143		—		82		61
Total Fair Value Measurements	$	588	$	—	$	527	$	61
December 31, 2018:
Equity securities	$	140	$	—	$	140	$	—
Bonds		209		—		209		—
Other (insurance contracts)		168		—		113		55
Total Fair Value Measurements	$	517	$	—	$	462	$	55

Level 3 inputs are unobservable (i.e., supported by little or no market activity). Level 3 inputs include management’s own judgement about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). The following table sets forth a summary of changes in the fair value of the Plan’s Level 3 assets (in millions):

	Level 3 Plan Assets
Balance at December 31, 2016	$	53
Actual return on plan assets still held at reporting date		2
Purchases, sales and settlements		(1	)
Currency translation adjustments		7
Balance at December 31, 2017	$	61
Actual return on plan assets still held at reporting date		(1	)
Purchases, sales and settlements		(2	)
Currency translation adjustments		(3	)
Balance at December 31, 2018	$	55

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

10. Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows (in millions):

				Derivative			Defined
	Currency			Financial			Benefit
	Translation			Instruments,			Plans,
	Adjustments			Net of Tax			Net of Tax			Total
Balance at December 31, 2015	$	(1,279	)	$	(205	)	$	(69	)	$	(1,553	)
Accumulated other comprehensive income (loss) before reclassifications		(97	)		32			35			(30	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			134			(3	)		131
Balance at December 31, 2016	$	(1,376	)	$	(39	)	$	(37	)	$	(1,452	)
Accumulated other comprehensive income (loss) before reclassifications		272			41			25			338
Amounts reclassified from accumulated other comprehensive income (loss)		—			5			(1	)		4
Balance at December 31, 2017	$	(1,104	)	$	7		$	(13	)	$	(1,110	)
Accumulated other comprehensive income (loss) before reclassifications		(298	)		(19	)		(13	)		(330	)
Amounts reclassified from accumulated other comprehensive income (loss)		6			(2	)		(1	)		3
Balance at December 31, 2018	$	(1,396	)	$	(14	)	$	(27	)	$	(1,437	)

The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions):

	Years Ended December 31,
	2018											2017											2016
	Currency		Derivative			Defined						Currency		Derivative			Defined						Currency		Derivative			Defined
	Translation		Financial			Benefit						Translation		Financial			Benefit						Translation		Financial			Benefit
	Adjustments		Instruments			Plans			Total			Adjustments		Instruments			Plans			Total			Adjustments		Instruments			Plans			Total
Revenue	$	—	$	2		$	—		$	2		$	—	$	(8	)	$	—			(8	)	$	—	$	(5	)	$	—		$	(5	)
Cost of revenue		—		(6	)		—			(6	)		—		12			—			12			—		191			—			191
Selling, general, and administrative		—		—			(1	)		(1	)		—		—			(1	)		(1	)		—		—			(5	)		(5	)
Other income (expense), net		6		—			—			6			—		—			—			—			—		—			—			—
Tax effect		—		2			—			2			—		1			—			1			—		(52	)		2			(50	)
	$	6	$	(2	)	$	(1	)	$	3		$	—	$	5		$	(1	)	$	4		$	—	$	134		$	(3	)	$	131

The Company’s reporting currency is the U.S. dollar. A majority of the Company’s international entities in which there is a substantial investment have the local currency as their functional currency. As a result, currency translation adjustments resulting from the process of translating the entities’ financial statements into the reporting currency are reported in other comprehensive income or (loss). For the years ended December 31, 2018 and 2016, a majority of these local currencies weakened against the U.S. dollar, while for the year ended December 31, 2017, a majority of these local currencies strengthened against the U.S. dollar. Other comprehensive income (loss) was ($298) million, $272 million and ($97) million for the years ended December 31, 2018, 2017 and 2016, respectively. Due to the sale of a non-core industrial business, $6 million of currency translation losses were reclassified from accumulated other comprehensive income (loss) into other income (expense), net in the Consolidated Statements of Income (Loss) for the year ended December 31, 2018.

The effect of changes in the fair values of derivatives designated as cash flow hedges are accumulated in other comprehensive income (loss), net of tax, until the underlying transactions to which they are designed to hedge are realized. The movement in other comprehensive income (loss) from period to period will be the result of the combination of changes in fair value for open derivatives and the outflow of other comprehensive income (loss) related to cumulative changes in the fair value of derivatives that have settled in the current or prior periods. The accumulated effect was other comprehensive income (loss) of ($21) million (net of $2 million tax), $46 million (net of $13 million tax) and $166 million (net of $65 million tax) for the years ended December 31, 2018, 2017 and 2016.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Our business is affected both directly and indirectly by governmental laws and regulations relating to the oilfield service industry in general, as well as by environmental and safety regulations that specifically apply to our business. We have not incurred material unreserved costs in connection with our compliance with such laws. However, there can be no assurance that other developments, such as new environmental laws, regulations and enforcement policies may not result in additional, presently unquantifiable, costs or liabilities to us.

The Company is involved in various other claims, internal investigations, regulatory agency audits and pending or threatened legal actions involving a variety of matters. In many instances, the Company maintains insurance that covers claims arising from risks associated with the business activities of the Company, including claims for premises liability, product liability and other such claims. The Company carries substantial insurance to cover such risks above a self-insured retention. The Company believes, and the Company’s experience has been, that such insurance has been sufficient to cover such risks. See Item 1A. Risk Factors.

The Company is also a party to claims, threatened and actual litigation, and private arbitration arising from ordinary day to day business activities, in which parties assert claims against the Company for a broad spectrum of potential liabilities, including: individual employment law claims, collective actions under federal employment laws, intellectual property claims, including alleged patent infringement, and/or misappropriation of trade secrets, premises liability claims, personal injuries arising from allegedly defective products, alleged improper payments under anti-corruption and anti-bribery laws and other commercial claims seeking recovery for alleged actual or exemplary damages. For many such contingent claims, the Company’s insurance coverage is inapplicable or an exclusion to coverage may apply. In such instances, settlement or other resolution of such contingent claims could have a material financial or reputational impact on the Company.

As of December 31, 2018, the Company recorded reserves in an amount believed to be sufficient for contingent liabilities representing all contingencies believed to be probable. The Company has also assessed the potential for additional losses above the amounts accrued as well as potential losses for matters that are not probable but are reasonably possible. The total potential loss on these matters cannot be determined; however, in our opinion, any ultimate liability, to the extent not otherwise provided for and except for the specific cases referred to above, will not materially affect our financial position, cash flow or results of operations. These estimated liabilities are based on the Company’s assessment of the nature of these matters, their progress toward resolution, the advice of legal counsel and outside experts as well as management’s intention and experience. Of course, because of uncertainty and risk inherent to litigation and arbitration, the actual liabilities incurred may exceed our estimated liabilities and reserves, which could have a material financial or reputational impact on the Company.

Further, in some instances, direct or indirect consumers of our products and services, entities providing financing for purchases of our products and services or members of the supply chain for our products and services have become involved in governmental investigations, internal investigations, political or other enforcement matters. In such circumstances, such investigations may adversely impact the ability of consumers of our products, entities providing financial support to such consumers or entities in the supply chain to timely perform their business plans or to timely perform under agreements with us. We may also become involved in these investigations, at substantial cost to the Company.

The on-going, publicly disclosed investigations in Brazil may continue to adversely impact our shipyard customers, their customers, entities providing financing for our shipyard customers and/or entities in the supply chain. We have executed settlements with several shipyard customers since December 28, 2015 concerning contracts for the supply of drilling equipment packages for 16 drillship construction projects in Brazil (collectively the “Supply Contracts”). Pursuant to the terms of the settlements, the Supply Contracts have been terminated. We did not take a charge as a result of the settlement and, on a net basis, there was no change to our prior estimates on our Brazil contracts impacting income. Though there have not been any material developments in some time, the situation in Brazil involves political and judicial uncertainty and could develop in ways that are presently unknown or unforeseen.

The Company leases certain facilities and equipment under operating leases that expire at various dates through 2041. These leases generally contain renewal options and require the lessee to pay maintenance, insurance, taxes and other operating expenses in addition to the minimum annual rentals. Rental expense related to operating leases approximated $212 million, $209 million, and $246 million in 2018, 2017 and 2016, respectively.

Future minimum lease commitments under capital leases and noncancellable operating leases with initial or remaining terms of one year or more at December 31, 2018, are payable as follows (in millions):

	Capital Lease		Operating Lease
	Payments		Payments
2019	$	15	$	126
2020		15		106
2021		15		88
2022		15		68
2023		15		51
Thereafter		262		293
Total future lease commitments	$	337	$	732

Common Stock

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Common Stock

12. Common Stock

National Oilwell Varco has authorized 1 billion shares of $0.01 par value common stock. The Company also has authorized 10 million shares of $0.01 par value preferred stock, none of which is issued or outstanding.

Cash dividends aggregated $76 million for each of the years ended December 31, 2018 and 2017. The declaration and payment of future dividends is at the discretion of the Company’s Board of Directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements and other factors deemed relevant by the Company’s Board of Directors.

Total compensation cost that has been charged against income for all share-based compensation arrangements was $110 million, $124 million and $107 million for 2018, 2017 and 2016, respectively. The total income tax benefit recognized in the consolidated statements of income for all share-based compensation arrangements was $16 million, $24 million and $30 million for 2018, 2017 and 2016, respectively.

The Company has a stock-based compensation plan known as the National Oilwell Varco, Inc. Long-Term Incentive Plan (the “Plan”). The Plan provides for the granting of stock options, performance-based share awards, restricted stock, phantom shares, stock payments and stock appreciation rights (“SARs”). The number of shares authorized under the Plan is 69.4 million. The Plan is subject to a fungible ratio concept, such that the issuance of stock options and SARs reduces the number of available shares under the Plan on a 1-for-1 basis, and the issuance of other awards reduces the number of available shares under the Plan on a 3-for-1 basis.

The Company’s other stock-based compensation plan, known as the National Oilwell Varco, Inc. 2018 Long-Term Incentive Plan (the “2018 Plan”), was approved by shareholders on May 11, 2018. The 2018 Plan provides for the granting of stock options, restricted stock, restricted stock units, performance awards, phantom shares, stock appreciation rights, stock payments and substitute awards. The number of shares authorized under the 2018 Plan is 17.8 million. The 2018 Plan is also subject to a fungible ratio concept, such that the issuance of stock options and SARs reduces the number of available shares under the 2015 Plan on a 1-for-1 basis, and the issuance of other awards reduces the number of available shares under the 2018 Plan on a 2.5-for-1 basis. At December 31, 2018, approximately 17.7 million shares were available for future grants.

Stock Options

Options granted under our stock option plan generally vest over a three-year period starting one year from the date of grant and expire ten years from the date of grant. The purchase price of options granted may not be less than the closing market price of National Oilwell Varco common stock on the date of grant.

We also have an inactive stock option plan that was acquired in connection with the acquisition of Grant Prideco in 2008. We converted the outstanding stock options under this plan to options to acquire our common stock and no further options are being issued under this plan. Stock option information summarized below includes amounts for the National Oilwell Varco Long-Term Incentive Plan and stock plans of acquired companies. Options outstanding at December 31, 2018 under the stock option plans have exercise prices between $23.94 and $77.99 per share, and expire at various dates from February 21, 2019 to February 29, 2028.

The following summarizes options activity:

	Years Ended December 31,
	2018					2017					2016
	Number			Average		Number			Average		Number			Average
	of			Exercise		of			Exercise		of			Exercise
	Shares			Price		Shares			Price		Shares			Price
Shares under option at beginning of year		22,472,047		$	48.99		17,439,060		$	54.08		15,430,307		$	59.50
Granted		1,610,599			35.09		6,961,041			36.51		3,672,411			28.26
Forfeited		(1,318,380	)		57.56		(1,482,531	)		55.22		(1,517,065	)		49.95
Exercised		(1,754,758	)		44.12		(445,523	)		29.83		(146,593	)		28.53
Shares under option at end of year		21,009,508		$	48.88		22,472,047		$	48.99		17,439,060		$	54.08
Exercisable at end of year		15,223,029		$	54.13		14,309,944		$	55.00		9,828,897		$	61.56

The following summarizes information about stock options outstanding at December 31, 2018:

	Weighted-Avg		Options Outstanding				Options Exercisable
	Remaining				Weighted-Avg				Weighted-Avg
Range of Exercise Price	Contractual Life		Shares		Exercise Price		Shares		Exercise Price
$23.94 - $55.00		6.81		15,179,485	$	40.68		9,393,006	$	44.14
$55.01 - $70.00		4.69		3,658,652		66.82		3,658,652		66.82
$70.01 - $77.99		2.69		2,171,371		75.95		2,171,371		75.95
Total		6.01		21,009,508	$	48.88		15,223,029	$	54.13

The weighted-average fair value of options granted during 2018, 2017 and 2016, was approximately $10.01, $9.68 and $6.44 per share, respectively, as determined using the Black-Scholes option-pricing model. The total intrinsic value of options exercised during 2018 and 2017 was $54 million and $13 million, respectively.

The determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise activity. The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term.

	Years Ended December 31,
Valuation Assumptions:	2018			2017			2016
Expected volatility		31.8	%		36.1	%		48.6	%
Risk-free interest rate		2.7	%		2.2	%		1.2	%
Expected dividend yield		0.6	%		0.6	%		6.5	%
Expected term (in years)		4.3			3.0			3.0

The Company used the actual volatility for traded options for the past 10 years prior to option date as the expected volatility assumption required in the Black Scholes model.

The risk-free interest rate assumption is based upon observed interest rates appropriate for the term of our employee stock options. The dividend yield assumption is based on the history and expectation of dividend payouts. The estimated expected term is based on actual employee exercise activity for the past ten years. Forfeitures are accounted for as they occur.

The following summary presents information regarding outstanding options at December 31, 2018 and changes during 2017 with regard to options under all stock option plans:

				Weighted- Average		Weighted Average Remaining Contractual		Aggregate
	Shares			Exercise Price		Term (years)		Intrinsic Value
Outstanding at December 31, 2017		22,472,047		$	48.99		6.66	$	34,186,368
Granted		1,610,599		$	35.09
Forfeited		(1,318,380	)	$	57.56
Exercised		(1,754,758	)	$	44.12
Outstanding at December 31, 2018		21,009,508		$	48.88		6.01	$	458,576
Exercisable at December 31, 2018		15,223,029		$	54.13		5.24	$	458,576

At December 31, 2018, total unrecognized compensation cost related to nonvested stock options was $25 million. This cost is expected to be recognized over a weighted-average period of three years. The total fair value of stock options vested in 2018, 2017 and 2016 was approximately $26 million, $70 million and $61 million, respectively. Cash received from option exercises for 2018, 2017 and 2016 was $54 million, $13 million and $4 million, respectively. The actual tax benefit (expense) realized for the tax deductions from option exercises totaled $2 million, (2) million, and $nil for 2018, 2017 and 2016, respectively.

Stock Appreciation Rights

On December 20, 2017, the Company made a tender offer to exchange SARs issued to certain employees on February 24, 2016 (“2016 SARs”) for cash, amended SARs, and new stock options. The transaction was structured to provide the employees an equal long-term incentive compensation value, while alleviating volatility in the Company’s earnings caused by required mark-to-market accounting on outstanding SARS. Of the outstanding 2016 SARs, 94.75% were exchanged resulting in a total cash payment of $14 million and granting of 3,613,707 new stock options on the exchange date with an exercise price of $34.32 and a fair value of $8.47, with vesting matched to the exchanged 2016 SARs.

The following summary presents information regarding outstanding SARs:

	Year Ended December 31,
	2018					2017
	Number			Average		Number			Average
	of			Exercise		of			Exercise
	Shares			Price		Shares			Price
Shares under SARs at beginning of year		1,493,689		$	28.41		4,341,740		$	28.32
Granted		14,228			35.09		14,400			38.86
Forfeited		(83,124	)		28.32		(283,822	)		28.35
Exercised		(25,491	)		42.61		(2,578,629	)		34.72
Shares under SARs at end of year		1,399,302		$	28.49		1,493,689		$	28.41
Exercisable at end of year		165,755		$	28.57		75,102		$	28.33

The expense recognized in 2018, 2017, and 2016 was nil, $8 million, and $20 million, respectively. There was no liability for cash-settled SARs at December 31, 2018.

Restricted Shares

The Company issues restricted stock awards and restricted stock units to officers and key employees in addition to stock options. On February 28, 2018, the Company granted 2,391,933 shares of restricted stock and restricted stock units with a fair value of $35.09 per share; and performance share awards to senior management employees with potential payouts varying from zero to 449,532 shares. The restricted stock and restricted stock units vest in three equal annual installments commencing on the first anniversary of the date of grant. The performance share awards can be earned based on performance against established goals over a three-year performance period. The performance share awards are based entirely on a TSR (total shareholder return) goal. Performance against the TSR goal is determined by comparing the performance of the Company’s TSR with the TSR performance of the members of the OSX (Oil Service Sector) index for the three-year performance period.

On May 11, 2018, the Company granted 35,432 restricted stock awards under the 2018 Plan with a fair value of $40.65 per share. The awards were granted to non-employee members of the board of directors and vest on the first anniversary of the grant date.

The following summary presents information regarding outstanding restricted shares:

	Years Ended December 31,
	2018					2017					2016
				Weighted-					Weighted-					Weighted-
	Number			Average		Number			Average		Number			Average
	of			Grant Date		of			Grant Date		of			Grant Date
	Units			Fair Value		Units			Fair Value		Units			Fair Value
Nonvested at beginning of year		4,889,678		$	37.04		4,563,983		$	41.10		1,969,250		$	61.53
Granted		2,657,115			35.17		1,738,589			38.74		3,384,325			31.59
Vested		(1,242,682	)		34.86		(1,018,206	)		34.84		(565,202	)		29.32
Forfeited		(389,251	)		57.56		(394,688	)		55.22		(224,390	)		49.95
Nonvested at end of year		5,914,860		$	34.41		4,889,678		$	37.04		4,563,983		$	41.10

The weighted-average grant day fair value of restricted stock awards and restricted stock units granted during the years ended 2018, 2017 and 2016 was $35.17, $38.74 and $31.59 per share, respectively. There were 1,242,682, 1,018,206 and 565,202 restricted stock awards that vested during 2018, 2017 and 2016, respectively. At December 31, 2018, there was approximately $108 million of unrecognized compensation cost related to nonvested restricted stock awards and restricted stock units, which is expected to be recognized over a weighted-average period of two years.

Revenue Recognition

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Revenue Recognition

13.

Revenue

Disaggregation of Revenue

The following tables disaggregate our revenue by destinations, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. In the tables below, North America includes only the U.S. and Canada (in millions):

	Year Ended December 31, 2018
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,817	$	1,302	$	663	$	—		$	3,782
International		1,345		1,543		1,783		—			4,671
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453

Land	$	2,683	$	1,985	$	854	$	—		$	5,522
Offshore		479		860		1,592		—			2,931
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453

	Year Ended December 31, 2017
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,408	$	1,093	$	545	$	—		$	3,046
International		1,116		1,528		1,614		—			4,258
Eliminations		53		51		93		(197	)		—
	$	2,577	$	2,672	$	2,252	$	(197	)	$	7,304

Land	$	2,047	$	1,752	$	740	$	—		$	4,539
Offshore		477		869		1,419		—			2,765
Eliminations		53		51		93		(197	)		—
	$	2,577	$	2,672	$	2,252	$	(197	)	$	7,304

	Year Ended December 31, 2016
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	925	$	793	$	460	$	—		$	2,178
International		1,104		1,404		2,565		—			5,073
Eliminations		170		44		85		(299	)		—
	$	2,199	$	2,241	$	3,110	$	(299	)	$	7,251

Land	$	1,497	$	1,342	$	819	$	—		$	3,658
Offshore		532		855		2,206		—			3,593
Eliminations		170		44		85		(299	)		—
	$	2,199	$	2,241	$	3,110	$	(299	)	$	7,251

The Company did not have any customers with revenues greater than 10% of total revenue for the years ended December 31, 2018, 2017, or 2016.

Contract Assets and Liabilities

Contract assets include unbilled amounts resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not only subject to the passage of time. There were no impairment losses recorded on contract assets for the years ending December 31, 2018 and 2017.

Contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue. For the balance at December 31, 2017, we reclassified $240 million of advance payments and deferred revenue from accrued liabilities to contract liabilities to conform with the 2018 presentation.

The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions):

Contract Assets
Balance at December 31, 2017	$	495
Additions and Milestone Billings		(948	)
Revenue Recognized		1,094
Currency translation adjustments and other		(76	)
Balance at December 31, 2018	$	565

Contract Liabilities
Balance at December 31, 2017	$	519
Additions and Milestone Billings		861
Revenue Recognized		(798	)
Currency translation adjustments and other		(124	)
Balance at December 31, 2018	$	458

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

The Tax Cuts and Jobs Act (the “Act”) was enacted on December 22, 2017. The Act reduced the U.S. federal corporate tax rate from 35% to 21%, effective January 1, 2018. We recognized an income tax benefit of $242 million in the year ended December 31, 2017 associated with the revaluation of our net deferred tax liability. The one-time Transition Tax, Global Intangible Low Taxed Income (“GILTI”), Foreign Derived Intangible Income (“FDII”), Base Erosion and Anti-Abuse Tax (“BEAT”) and IRC Section 163(j) interest limitation do not impact our cash taxes or total tax expense for the years ended December 31, 2018 and 2017, respectively.

The accounting for the initial impact of the Act is complete. SAB 118 provided for a one-year period to complete the accounting for this expansive new law. Final accounting did not have a material impact to cash tax or total tax expense, but the finalization of the transition tax inclusions in our 2017 and 2018 tax returns, along with recording the impact of tax regulations released in 2018, impacted our foreign tax credit carryforward position. However, our excess foreign tax credits carry a full valuation allowance as we currently estimate that they will expire unutilized. Accordingly, the true-ups only impact the total foreign tax credits recorded and related valuation allowance and do not impact the income tax provision on a net basis. The movement in the valuation allowance during 2018 included the impact of our foreign tax credit carryover position in response to new treasury regulations and finalization of our transition tax calculations.

The domestic and foreign components of income (loss) before income taxes were as follows (in millions):

	Years Ended December 31,
	2018			2017			2016
Domestic	$	(168	)	$	(470	)	$	(2,095	)
Foreign		209			78			(528	)
	$	41		$	(392	)	$	(2,623	)

The components of the provision for income taxes consisted of (in millions):

	Years Ended December 31,
	2018			2017			2016
Current:
Federal	$	(5	)	$	23		$	(79	)
State		(3	)		1			(4	)
Foreign		134			161			74
Total current income tax provision		126			185			(9	)
Deferred:
Federal		11			(332	)		(132	)
State		-			(2	)		(7	)
Foreign		(74	)		(7	)		(59	)
Total deferred income tax provision		(63	)		(341	)		(198	)
Total income tax provision	$	63		$	(156	)	$	(207	)

The difference between the effective tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows (in millions):

	Years Ended December 31,
	2018			2017			2016
Federal income tax at U.S. statutory rate	$	9		$	(137	)	$	(918	)
Foreign income tax rate differential		(3	)		(21	)		32
Goodwill impairment		—			—			271
Nondeductible expenses		20			38			30
Foreign dividends, net of foreign tax credits		27			(132	)		(25	)
Tax rate change on timing differences		(7	)		(245	)		(8	)
Change in uncertain tax positions		(5	)		81			11
Prior years taxes		(13	)		(26	)		(29	)
Tax impact on foreign exchange		(3	)		5			(4	)
Change in deferred tax valuation allowance		49			280			476
State income taxes - net of federal benefit		(3	)		(1	)		(10	)
Tax exempt income		(5	)		-			(7	)
Income tax credits		(3	)		(4	)		-
Other		—			6			(26	)
Total income tax provision	$	63		$	(156	)	$	(207	)

The effective tax rate for the year ended December 31, 2018 was 153.7%, compared to 39.8% for 2017. For the year ended December 31, 2018, valuation allowances established on deferred tax assets and tax due on foreign income not offset by foreign tax credits resulted in a higher effective tax rate than the U.S. statutory rate. For the year ended December 31, 2017, the revaluation of net deferred tax liabilities in the U.S. partially offset by valuation allowances established on foreign tax credits generated during the year, when applied to losses resulted in a higher effective tax rate than the U.S. statutory rate.

Significant components of our deferred tax assets and liabilities were as follows (in millions):

	December 31,
	2018			2017
Deferred tax assets:
Allowances and operating liabilities	$	293		$	355
Net operating loss carryforwards		182			182
Postretirement benefits		30			31
Tax credit carryforwards		768			1,002
Other		95			78
Valuation allowance		(955	)		(1,202	)
Total deferred tax assets		413			446
Deferred tax liabilities:
Tax over book depreciation		139			174
Intangible assets		688			716
Deferred income		70			111
Accrued tax on unremitted earnings		17			17
Other		52			92
Total deferred tax liabilities		966			1,110
Net deferred tax liability	$	553		$	664

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	2018			2017			2016
Unrecognized tax benefit at beginning of year	$	132		$	78		$	46
Gross increase for current period tax positions		15			10			3
Gross increase for tax positions in prior years		31			64			65
Gross decrease for tax positions in prior years		(10	)		(14	)		(21	)
Settlements		(69	)		—			(3	)
Lapse of statute of limitations		(1	)		(6	)		(12	)
Unrecognized tax benefit at end of year	$	98		$	132		$	78

The balance of unrecognized tax benefits at December 31, 2018, 2017 and 2016 was $98 million, $132 million and $78 million, respectively. For the year ended December 31, 2018, the settlement of a foreign jurisdiction audit resulted in a $69 million decrease in uncertain tax provisions. Accruals related to foreign jurisdiction audits of prior years resulted in uncertain tax position increases of $64 million and $65 million in 2017 and 2016.

Substantially all of the unrecognized tax benefits, if ultimately realized, would be recorded as a benefit to the effective tax rate. The Company anticipates that it is reasonably possible that the amount of unrecognized tax benefits may decrease by up to $7 million in the next twelve months due to settlements and conclusions of tax examinations. To the extent penalties and interest would be assessed on any underpayment of income tax, such accrued amounts have been classified as a component of income tax expense in the financial statements consistent with the Company’s policy. For the years ended December 31, 2018, 2017 and 2016, we recorded income tax expense of nil, $17 million and $10 million, respectively, for interest and penalty related to unrecognized tax benefits. As of December 31, 2018 and 2017, the Company had accrued $12 million and $32 million, respectively, of interest and penalty relating to unrecognized tax benefits.

The Company is subject to taxation in the United States, various states and foreign jurisdictions. The Company has significant operations in the United States, Norway, Canada, the United Kingdom, the Netherlands, France and Denmark. Tax years that remain subject to examination by major tax jurisdictions vary by legal entity, but are generally open in the U.S. for tax years ending after 2013 and outside the U.S. for tax years ending after 2010.

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2018 were as follows (in millions):


	Federal			State			Foreign			Total
2019 - 2021 Expiration	$	6		$	2		$	51		$	59
2022 - 2033 Expiration		16			20			142			178
2034 - 2038 Expiration		12			122			94			228
Unlimited Expiration		—			—			428			428
Total Net Operating Loss (NOL)	$	34		$	144		$	715		$	893
Tax Effected NOL	$	7		$	8		$	167		$	182
Valuation Allowance (VA)		(6	)		(8	)		(140	)		(154	)
Tax Effected NOL Net of VA	$	1		$	—		$	27		$	28

The Company has $766 million of excess foreign tax credits in the United States as of December 31, 2018, of which $10 million, $141 million, $286 million, $142 million, and $187 million will expire in 2020, 2022, 2026, 2027, and 2028, respectively. As of December 31, 2018, the Company has remaining tax-deductible goodwill of $133 million, resulting from acquisitions. The amortization of this goodwill is deductible over various periods ranging up to 12 years.

Undistributed earnings of certain of the Company’s foreign subsidiaries amounted to $3,254 million at December 31, 2018. These earnings are considered to be indefinitely reinvested and no provision for U.S. federal and state income taxes has been made. Distribution of these earnings in the form of dividends or otherwise could result in incremental U.S. federal and state taxes at statutory rates and withholding taxes payable in various foreign countries.

Business Segments and Geographic Areas

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Business Segments and Geographic Areas

15. Business Segments. and Geographic Areas

The Company’s operations are organized into three operating segments: Wellbore Technologies, Completion & Production Solutions and Rig Technologies.

Wellbore Technologies

The Company’s Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance, including: solids control and waste management equipment and services; drilling fluids; portable power generation; premium drill pipe; wired pipe; drilling optimization and automation services; tubular inspection, repair and coating services; rope access inspection; instrumentation; measuring and monitoring; downhole and fishing tools; steerable technologies; hole openers; and drill bits.

Wellbore Technologies focuses on oil and gas companies and supports drilling contractors, oilfield service companies, and oilfield equipment rental companies. Demand for the segment’s products and services depends on the level of oilfield drilling activity by oil and gas companies, drilling contractors, and oilfield service companies.

Completion & Production Solutions

The Company’s Completion & Production Solutions segment integrates technologies for well completions and oil and gas production. The segment designs, manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration units, injection units, flowline, and manifolds; well intervention, including coiled tubing units, coiled tubing, and wireline units, BOPs, and tools; onshore production, including fluid processing systems, composite pipe, surface transfer and progressive cavity pumps, and artificial lift systems; and, offshore production, including fluid processing systems, floating production systems, subsea production technologies, and connectors for conductor pipe.

Completion & Production Solutions supports service companies and oil and gas companies. Demand for the segment’s products depends on the level of oilfield completions and workover activity by oilfield service companies and drilling contractors, and capital spending plans by oil and gas companies and oilfield service companies.

Rig Technologies

The Company’s Rig Technologies segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore as well as other marine-based markets, including offshore wind vessels. The segment designs, manufactures and sells land rigs, offshore drilling equipment packages, including installation and commissioning services, and drilling rig components that mechanize and automate the drilling process and rig functionality. Equipment and technologies in Rig Technologies include: substructures, derricks, and masts; cranes; jacking systems; pipe lifting, racking, rotating, and assembly systems; fluid transfer technologies, such as mud pumps; pressure control equipment, including blowout preventers; power transmission systems, including drives and generators; rig instrumentation and control systems; mooring, anchor, and deck handling machinery; and pipelay and construction systems. The segment also provides spare parts, repair, and rentals as well as comprehensive remote equipment monitoring, technical support, field service, and customer training through an extensive network of aftermarket service and repair facilities strategically located in major areas of drilling operations around the world.

Rig Technologies supports land and offshore drillers. Demand for the segment’s products depends on drilling contractors’ and oil and gas companies’ capital spending plans, specifically capital expenditures on rig construction and refurbishment; and secondarily on the overall level of oilfield drilling activity, which drives demand for spare parts, service, and repair for the segment’s large installed base of equipment.

Geographic Areas:

The following table presents consolidated revenues by country based on sales destination of the products or services (in millions):

	Years Ended December 31,
	2018		2017		2016
United States	$	3,480	$	2,760	$	1,961
Saudi Arabia		444		310		258
Brazil		415		498		242
Norway		368		295		339
Singapore		321		188		340
United Kingdom		309		279		299
Canada		302		286		217
United Arab Emirates		248		223		334
China		231		298		557
South Korea		169		261		495
Other Countries		2,166		1,906		2,209
Total	$	8,453	$	7,304	$	7,251

The following table presents long-lived assets by country based on the location (in millions):

	December 31,
	2018		2017
United States	$	1,603	$	1,675
Brazil		217		269
United Kingdom		125		140
Denmark		119		128
South Korea		91		97
Canada		79		84
Russia		69		90
United Arab Emirates		60		65
Mexico		48		71
Singapore		47		59
Other Countries		339		324
Total	$	2,797	$	3,002

Business Segments:

The following table presents selected financial data by business segment (in millions):

	Wellbore Technologies			Completion & Production Solutions			Rig Technologies			Eliminations and corporate costs (1)			Total
December 31, 2018
Revenue	$	3,235		$	2,931		$	2,575		$	(288	)	$	8,453
Operating profit (loss)		131			166			213			(299	)		211
Capital expenditures		135			87			17			5			244
Depreciation and amortization		374			212			90			14			690
Goodwill		3,011			2,041			1,212			—			6,264
Total assets		7,929			6,233			3,906			1,728			19,796
December 31, 2017
Revenue	$	2,577		$	2,672		$	2,252		$	(197	)	$	7,304
Operating profit (loss)		(102	)		98			(14	)		(259	)		(277	)
Capital expenditures		99			69			16			8			192
Depreciation and amortization		379			215			88			16			698
Goodwill		2,956			2,122			1,149			—			6,227
Total assets		7,848			5,782			4,625			1,951			20,206
December 31, 2016
Revenue	$	2,199		$	2,241		$	3,110		$	(299	)	$	7,251
Operating profit (loss)		(770	)		(266	)		(1,033	)		(342	)		(2,411	)
Capital expenditures		124			61			24			75			284
Depreciation and amortization		384			209			94			16			703
Goodwill		2,874			2,058			1,135			—			6,067
Total assets		7,911			5,765			5,327			2,137			21,140

(1)

Sales from one segment to another generally are priced at estimated equivalent commercial selling prices; however, segments originating an external sale are credited with the full profit to the Company. Eliminations and corporate costs include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation, as well as corporate costs not allocated to the segments. Intercompany transactions within each reporting segment are eliminated within each reporting segment. Also included in the eliminations and corporate costs column are capital expenditures and total assets related to corporate. Corporate assets consist primarily of cash and fixed assets.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

16. Quarterly Financial Data (Unaudited)

Summarized quarterly results, were as follows (in millions, except per share data):

	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter
Year ended December 31, 2018
Revenue	$	1,795		$	2,106		$	2,154		$	2,398
Gross profit		287			355			393			409
Net profit (loss) attributable to Company		(68	)		24			1			12
Net profit (loss) attributable to Company per basic share		(0.18	)		0.06			0.00			0.03
Net profit (loss) attributable to Company per diluted share		(0.18	)		0.06			0.00			0.03
Cash dividends per share		0.05			0.05			0.05			0.05
Year ended December 31, 2017
Revenue	$	1,741		$	1,759		$	1,835		$	1,969
Gross profit (loss)		209			231			285			167
Net loss attributable to Company		(122	)		(75	)		(26	)		(14	)
Net loss attributable to Company per basic share		(0.32	)		(0.20	)		(0.07	)		(0.04	)
Net loss attributable to Company per diluted share		(0.32	)		(0.20	)		(0.07	)		(0.04	)
Cash dividends per share		0.05			0.05			0.05			0.05

Schedule II National Oilwell Varco, Inc. Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2018

Valuation And Qualifying Accounts [Abstract]

Schedule II National Oilwell Varco, Inc. Valuation and Qualifying Accounts

SCHEDULE II

NATIONAL OILWELL VARCO, INC.

VALUATION AND QUALIFYING ACCOUNTS

Years Ended December 31, 2018, 2017 and 2016

(in millions)

	Balance beginning of year		Additions (Deductions) charged to costs and expenses		Charge off's and other			Balance end of year
Allowance for doubtful accounts:
2018	$	187	$	17	$	(43	)	$	161
2017		209		6		(28	)		187
2016		159		52		(2	)		209
Reserve for excess and obsolete inventories:
2018	$	800	$	49	$	(205	)	$	644
2017		1,017		114		(331	)		800
2016		500		606		(89	)		1,017
Valuation allowance for deferred tax assets:
2018	$	1,202	$	49	$	(296	)	$	955
2017		544		280		378			1,202
2016		63		476		5			544
Warranty reserve:
2018	$	135	$	38	$	(68	)	$	105
2017		172		46		(83	)		135
2016		244		50		(122	)		172

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Fair Value of Financial Instruments

Derivative Financial Instruments

Inventories

Property, Plant and Equipment

Acquisitions and Investments

Foreign Currency

Revenue Recognition, Service and Repair Work, and Costs to Obtain and Fulfill a Contract

Revenue Recognition

For revenue that is not recognized at a point in time, the Company follows accounting guidance for revenue recognized over time, as follows:

Revenue Recognition under Long-term Construction Contracts

Service and Repair Work

Costs to Obtain and Fulfill a Contract

Remaining Performance Obligations

Service and Product Warranties

The changes in the carrying amount of service and product warranties are as follows (in millions):

Balance at December 31, 2016	$	172
Net provisions for warranties issued during the year		46
Amounts incurred		(86	)
Currency translation adjustments		3
Balance at December 31, 2017	$	135
Net provisions for warranties issued during the year		38
Amounts incurred		(67	)
Currency translation adjustments		(1	)
Balance at December 31, 2018	$	105

Income Taxes

Concentration of Credit Risk

Stock-Based Compensation

The Company provides compensation benefits to employees and non-employee directors under share-based payment arrangements, including various employee stock option plans.

Environmental Liabilities

Use of Estimates

Contingencies

Net Loss Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):

	Years Ended December 31,
	2018			2017			2016
Numerator:
Net loss attributable to Company	$	(31	)	$	(237	)	$	(2,412	)
Denominator:
Basic—weighted average common shares outstanding		378			377			376
Dilutive effect of employee stock options and other unvested stock awards		—			—			—
Diluted outstanding shares		378			377			376
Basic loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Diluted loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Cash dividends per share	$	0.20		$	0.20		$	0.61

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Changes in Carrying Amount of Service and Product Warranties

The changes in the carrying amount of service and product warranties are as follows (in millions):

Balance at December 31, 2016	$	172
Net provisions for warranties issued during the year		46
Amounts incurred		(86	)
Currency translation adjustments		3
Balance at December 31, 2017	$	135
Net provisions for warranties issued during the year		38
Amounts incurred		(67	)
Currency translation adjustments		(1	)
Balance at December 31, 2018	$	105

Computation of Weighted Average Basic and Diluted Shares Outstanding

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):

	Years Ended December 31,
	2018			2017			2016
Numerator:
Net loss attributable to Company	$	(31	)	$	(237	)	$	(2,412	)
Denominator:
Basic—weighted average common shares outstanding		378			377			376
Dilutive effect of employee stock options and other unvested stock awards		—			—			—
Diluted outstanding shares		378			377			376
Basic loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Diluted loss attributable to Company per share	$	(0.08	)	$	(0.63	)	$	(6.41	)
Cash dividends per share	$	0.20		$	0.20		$	0.61

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Outstanding Foreign Currency Forward Contracts

The Company had the following outstanding foreign currency forward contracts that were entered into to hedge nonfunctional currency cash flows from forecasted revenues and expenses (in millions):

Currency Denomination

Foreign Currency

December 31, 2018

December 31, 2017

Norwegian Krone

NOK

4,118

NOK

4,013

Japanese Yen

JPY

121

JPY

982

U.S. Dollar

USD

163

Euro

EUR

120

Danish Krone

DKK

British Pound Sterling

GBP

The Company had the following outstanding foreign currency forward contracts that hedge the fair value of nonfunctional currency monetary accounts (in millions):

Currency Denomination

Foreign Currency

December 31, 2018

December 31, 2017

Norwegian Krone

NOK

1,111

NOK

1,734

U.S. Dollar

USD

535

USD

463

Mexican Peso

MXN

204

MXN

—

South African Rand

ZAR

124

ZAR

150

Euro

EUR

101

EUR

Danish Krone

DKK

British Pound Sterling

GBP

Russian Ruble

RUB

—

RUB

2,699

Derivative Instruments and their Balance Sheet Classifications

The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions):

	Fair Values of Derivative Instruments (In millions)
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet	December 31,				Balance Sheet	December 31,
	Location	2018		2017		Location	2018		2017
Derivatives designated as hedging instruments under ASC Topic 815

Foreign exchange contracts	Prepaid and other current assets	$	2	$	13	Accrued liabilities	$	17	$	3
Foreign exchange contracts	Other Assets		—		8	Other Liabilities		11		2
Total derivatives designated as hedging instruments under ASC Topic 815		$	2	$	21		$	28	$	5
Derivatives not designated as hedging instruments under ASC Topic 815

Foreign exchange contracts	Prepaid and other current assets	$	4	$	10	Accrued liabilities	$	6	$	5
Foreign exchange contracts	Other Assets		—		2	Other Liabilities		2		1
Total derivatives not designated as hedging instruments under ASC Topic 815		$	4	$	12		$	8	$	6
Total derivatives		$	6	$	33		$	36	$	11

Effect of Derivative Instruments on Consolidated Statements of Income (Loss)

The Effect of Derivative Instruments on the Consolidated Statements of Income (Loss) ($ in millions)

Location of Gain (Loss)

Recognized in Income on

Amount of Gain (Loss)

Location of Gain (Loss)

Derivatives (Ineffective

Recognized in Income on

Reclassified from

Amount of Gain (Loss)

Portion and Amount

Derivatives (Ineffective

Derivatives Designated as

Amount of Gain (Loss)

Accumulated OCI into

Reclassified from

Excluded from

Portion and Amount

Hedging Instruments under

Recognized in OCI on

Income

Accumulated OCI into

Effectiveness

Excluded from

ASC Topic 815

Derivatives (Effective Portion) (a)

(Effective Portion)

Income (Effective Portion)

Testing)

Effectiveness Testing) (b)

Years Ended

December 31,

Years Ended

December 31,

Years Ended

December 31,

2018

2017

2018

2017

2018

2017

Revenue

(2)

Cost of revenue

Foreign exchange contracts

(25)

Cost of revenue

(19)

Other income (expense), net

(9)

Total

(25)

(11)

(7)

Derivatives Not Designated as	Location of Gain (Loss)	Amount of Gain (Loss)
Hedging Instruments under	Recognized in Income	Recognized in Income on
ASC Topic 815	on Derivatives	Derivatives
		Years Ended December 31,
		2018	2017
Foreign exchange contracts	Other income (expense), net	(30)	58
Total		(30)	58

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventories

Inventories consist of (in millions):

	December 31,
	2018		2017
Raw materials and supplies	$	614	$	656
Work in process		501		513
Finished goods and purchased products		1,871		1,834
Total	$	2,986	$	3,003

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consist of (in millions):

	Estimated	December 31,
	Useful Lives	2018			2017
Land		$	227		$	252
Buildings and improvements	5-35 Years		1,271			1,340
Operating equipment	3-15 Years		3,140			3,169
Rental equipment	3-12 Years		597			581
Capital leases	20-24 Years		249			219
			5,484			5,561
Less: Accumulated Depreciation			(2,687	)		(2,559	)
		$	2,797		$	3,002

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Identified Intangible Assets Identified by Segment

Error extracting Word content

Identified Intangible Assets by Major Classification

Error extracting Word content

Goodwill Identified by Segment

Goodwill is identified by segment as follows (in millions):

	Wellbore Technologies			Completion & Production Solutions			Rig Technologies			Total
Balance at December 31, 2016	$	2,874		$	2,058		$	1,135		$	6,067
Goodwill acquired and adjusted during period		37			41			11			89
Currency translation adjustments		45			23			3			71
Balance at December 31, 2017	$	2,956		$	2,122		$	1,149		$	6,227
Goodwill acquired and adjusted during period		64			(33	)		71			102
Currency translation adjustments		(9	)		(48	)		(8	)		(65	)
Balance at December 31, 2018 (1)	$	3,011		$	2,041		$	1,212		$	6,264

(1)

Accumulated goodwill impairment was $2,457 million as of December 31, 2018.

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of (in millions):

	December 31,
	2018		2017
Vendor costs	$	127	$	150
Compensation		331		345
Taxes (non income)		124		152
Warranty		105		135
Insurance		55		74
Fair value of derivatives		23		8
Commissions		34		58
Interest		7		7
Other		282		309
Total	$	1,088	$	1,238

Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

Debt consists of (in millions):

	December 31,
	2018		2017
$1.4 billion in Senior Notes, interest at 2.60% payable semiannually, principal due on December 1, 2022		1,394		1,392
$1.1 billion in Senior Notes, interest at 3.95% payable semiannually, principal due on December 1, 2042		1,088		1,088
Capital Leases and other debt		229		232
Total debt		2,711		2,712
Less current portion		7		6
Long-term debt	$	2,704	$	2,706

Principal Payments of Debt and Capital Leases

Principal payments of debt and capital leases for years subsequent to 2018 are as follows (in millions):

2019	$	7
2020		7
2021		7
2022		1,402
2023		8
Thereafter		1,280
	$	2,711

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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-Name Accounting Standards Codification
-Topic 835
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+ Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Change in Benefit Obligation, Plan Assets and Funded Status of Defined Benefit Pension Plans

	Pension benefits						Postretirement benefits
At year end	2018			2017			2018			2017
Benefit obligation at beginning of year	$	633		$	622		$	62		$	92
Service cost		1			1			—			—
Interest cost		18			20			2			3
Actuarial loss (gain)		(24	)		6			(8	)		(17	)
Benefits paid		(40	)		(31	)		(13	)		(14	)
Participants contributions		—			—			2			2
Exchange rate loss (gain)		(15	)		30			—			—
Plan amendments		4			—			—			—
Curtailments		—			—			—			(4	)
Settlements		(2	)		(15	)		—			—
Benefit obligation at end of year	$	575		$	633		$	45		$	62
Fair value of plan assets at beginning of year	$	588		$	543		$	—		$	—
Actual return		(21	)		57			—			—
Benefits paid		(40	)		(31	)		(13	)		(14	)
Company contributions		5			11			11			12
Participants contributions		—			—			2			2
Exchange rate gain (loss)		(13	)		24			—			—
Settlements		(2	)		(15	)		—			—
Other		—			(1	)		—			—
Fair value of plan assets at end of year	$	517		$	588		$	—		$	—
Funded status	$	(58	)	$	(45	)	$	(45	)	$	(62	)
Accumulated benefit obligation at end of year	$	572		$	630

Assumption Rates Used for Benefit Obligations

The assumption rates used for benefit obligations are as follows:

	Years Ended December 31,
	2018	2017
Discount rate:
United States plan	3.90% - 4.20%	3.00% - 3.60%
International plans	1.80% - 2.90%	1.80% - 2.40%
Salary increase:
United States plan	N/A	N/A
International plans	1.80% - 3.40%	1.80% - 3.30%

Assumption Rates Used for Net Periodic Benefit Costs

The assumption rates used for net periodic benefit costs are as follows:

	Years Ended December 31,
	2018	2017	2016
Discount rate:
United States plan	3.00% - 3.60%	3.10% - 4.00%	3.20% - 4.20%
International plans	1.80% - 2.40%	1.80% - 2.80%	2.20% - 3.70%
Salary increase:
United States plan	N/A	N/A	N/A
International plans	1.80% - 3.30%	1.80% - 3.50%	2.00% - 4.20%
Expected return on assets:
United States plan	5.60%	5.60%	5.60%
International plans	1.80% - 4.00%	1.80% - 3.00%	1.80% - 3.00%

Plan's Assets Carried at Fair Value

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets carried at fair value (in millions):

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
December 31, 2017:
Equity securities	$	161	$	—	$	161	$	—
Bonds		284		—		284		—
Other (insurance contracts)		143		—		82		61
Total Fair Value Measurements	$	588	$	—	$	527	$	61
December 31, 2018:
Equity securities	$	140	$	—	$	140	$	—
Bonds		209		—		209		—
Other (insurance contracts)		168		—		113		55
Total Fair Value Measurements	$	517	$	—	$	462	$	55

Summary of Changes in Fair Value of Plan's Level Three Assets

The following table sets forth a summary of changes in the fair value of the Plan’s Level 3 assets (in millions):

	Level 3 Plan Assets
Balance at December 31, 2016	$	53
Actual return on plan assets still held at reporting date		2
Purchases, sales and settlements		(1	)
Currency translation adjustments		7
Balance at December 31, 2017	$	61
Actual return on plan assets still held at reporting date		(1	)
Purchases, sales and settlements		(2	)
Currency translation adjustments		(3	)
Balance at December 31, 2018	$	55

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows (in millions):

				Derivative			Defined
	Currency			Financial			Benefit
	Translation			Instruments,			Plans,
	Adjustments			Net of Tax			Net of Tax			Total
Balance at December 31, 2015	$	(1,279	)	$	(205	)	$	(69	)	$	(1,553	)
Accumulated other comprehensive income (loss) before reclassifications		(97	)		32			35			(30	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			134			(3	)		131
Balance at December 31, 2016	$	(1,376	)	$	(39	)	$	(37	)	$	(1,452	)
Accumulated other comprehensive income (loss) before reclassifications		272			41			25			338
Amounts reclassified from accumulated other comprehensive income (loss)		—			5			(1	)		4
Balance at December 31, 2017	$	(1,104	)	$	7		$	(13	)	$	(1,110	)
Accumulated other comprehensive income (loss) before reclassifications		(298	)		(19	)		(13	)		(330	)
Amounts reclassified from accumulated other comprehensive income (loss)		6			(2	)		(1	)		3
Balance at December 31, 2018	$	(1,396	)	$	(14	)	$	(27	)	$	(1,437	)

Components of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)

The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions):

	Years Ended December 31,
	2018											2017											2016
	Currency		Derivative			Defined						Currency		Derivative			Defined						Currency		Derivative			Defined
	Translation		Financial			Benefit						Translation		Financial			Benefit						Translation		Financial			Benefit
	Adjustments		Instruments			Plans			Total			Adjustments		Instruments			Plans			Total			Adjustments		Instruments			Plans			Total
Revenue	$	—	$	2		$	—		$	2		$	—	$	(8	)	$	—			(8	)	$	—	$	(5	)	$	—		$	(5	)
Cost of revenue		—		(6	)		—			(6	)		—		12			—			12			—		191			—			191
Selling, general, and administrative		—		—			(1	)		(1	)		—		—			(1	)		(1	)		—		—			(5	)		(5	)
Other income (expense), net		6		—			—			6			—		—			—			—			—		—			—			—
Tax effect		—		2			—			2			—		1			—			1			—		(52	)		2			(50	)
	$	6	$	(2	)	$	(1	)	$	3		$	—	$	5		$	(1	)	$	4		$	—	$	134		$	(3	)	$	131

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Future Minimum Lease Commitments Under Capital Leases and Noncancellable Operating Leases with Initial or Remaining Terms of One Year or More

	Capital Lease		Operating Lease
	Payments		Payments
2019	$	15	$	126
2020		15		106
2021		15		88
2022		15		68
2023		15		51
Thereafter		262		293
Total future lease commitments	$	337	$	732

Common Stock (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Summary of Stock Options

The following summarizes options activity:

	Years Ended December 31,
	2018					2017					2016
	Number			Average		Number			Average		Number			Average
	of			Exercise		of			Exercise		of			Exercise
	Shares			Price		Shares			Price		Shares			Price
Shares under option at beginning of year		22,472,047		$	48.99		17,439,060		$	54.08		15,430,307		$	59.50
Granted		1,610,599			35.09		6,961,041			36.51		3,672,411			28.26
Forfeited		(1,318,380	)		57.56		(1,482,531	)		55.22		(1,517,065	)		49.95
Exercised		(1,754,758	)		44.12		(445,523	)		29.83		(146,593	)		28.53
Shares under option at end of year		21,009,508		$	48.88		22,472,047		$	48.99		17,439,060		$	54.08
Exercisable at end of year		15,223,029		$	54.13		14,309,944		$	55.00		9,828,897		$	61.56

Summary of Stock Option Outstanding Information

The following summarizes information about stock options outstanding at December 31, 2018:

	Weighted-Avg		Options Outstanding				Options Exercisable
	Remaining				Weighted-Avg				Weighted-Avg
Range of Exercise Price	Contractual Life		Shares		Exercise Price		Shares		Exercise Price
$23.94 - $55.00		6.81		15,179,485	$	40.68		9,393,006	$	44.14
$55.01 - $70.00		4.69		3,658,652		66.82		3,658,652		66.82
$70.01 - $77.99		2.69		2,171,371		75.95		2,171,371		75.95
Total		6.01		21,009,508	$	48.88		15,223,029	$	54.13

Assumption Used in Determination of Fair Value of Share Based Payment Awards

The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term.

	Years Ended December 31,
Valuation Assumptions:	2018			2017			2016
Expected volatility		31.8	%		36.1	%		48.6	%
Risk-free interest rate		2.7	%		2.2	%		1.2	%
Expected dividend yield		0.6	%		0.6	%		6.5	%
Expected term (in years)		4.3			3.0			3.0

Summary of Information and Changes in Stock Options with Regard to Stock Option Plans

The following summary presents information regarding outstanding options at December 31, 2018 and changes during 2017 with regard to options under all stock option plans:

				Weighted- Average		Weighted Average Remaining Contractual		Aggregate
	Shares			Exercise Price		Term (years)		Intrinsic Value
Outstanding at December 31, 2017		22,472,047		$	48.99		6.66	$	34,186,368
Granted		1,610,599		$	35.09
Forfeited		(1,318,380	)	$	57.56
Exercised		(1,754,758	)	$	44.12
Outstanding at December 31, 2018		21,009,508		$	48.88		6.01	$	458,576
Exercisable at December 31, 2018		15,223,029		$	54.13		5.24	$	458,576

Summary of Information Regarding Outstanding SARs

The following summary presents information regarding outstanding SARs:

	Year Ended December 31,
	2018					2017
	Number			Average		Number			Average
	of			Exercise		of			Exercise
	Shares			Price		Shares			Price
Shares under SARs at beginning of year		1,493,689		$	28.41		4,341,740		$	28.32
Granted		14,228			35.09		14,400			38.86
Forfeited		(83,124	)		28.32		(283,822	)		28.35
Exercised		(25,491	)		42.61		(2,578,629	)		34.72
Shares under SARs at end of year		1,399,302		$	28.49		1,493,689		$	28.41
Exercisable at end of year		165,755		$	28.57		75,102		$	28.33

Summary of Information Regarding Outstanding Restricted Shares

The following summary presents information regarding outstanding restricted shares:

	Years Ended December 31,
	2018					2017					2016
				Weighted-					Weighted-					Weighted-
	Number			Average		Number			Average		Number			Average
	of			Grant Date		of			Grant Date		of			Grant Date
	Units			Fair Value		Units			Fair Value		Units			Fair Value
Nonvested at beginning of year		4,889,678		$	37.04		4,563,983		$	41.10		1,969,250		$	61.53
Granted		2,657,115			35.17		1,738,589			38.74		3,384,325			31.59
Vested		(1,242,682	)		34.86		(1,018,206	)		34.84		(565,202	)		29.32
Forfeited		(389,251	)		57.56		(394,688	)		55.22		(224,390	)		49.95
Nonvested at end of year		5,914,860		$	34.41		4,889,678		$	37.04		4,563,983		$	41.10

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Summary of Disaggregate Revenue by Destinations

	Year Ended December 31, 2018
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,817	$	1,302	$	663	$	—		$	3,782
International		1,345		1,543		1,783		—			4,671
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453

Land	$	2,683	$	1,985	$	854	$	—		$	5,522
Offshore		479		860		1,592		—			2,931
Eliminations		73		86		129		(288	)		—
	$	3,235	$	2,931	$	2,575	$	(288	)	$	8,453

	Year Ended December 31, 2017
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	1,408	$	1,093	$	545	$	—		$	3,046
International		1,116		1,528		1,614		—			4,258
Eliminations		53		51		93		(197	)		—
	$	2,577	$	2,672	$	2,252	$	(197	)	$	7,304

Land	$	2,047	$	1,752	$	740	$	—		$	4,539
Offshore		477		869		1,419		—			2,765
Eliminations		53		51		93		(197	)		—
	$	2,577	$	2,672	$	2,252	$	(197	)	$	7,304

	Year Ended December 31, 2016
			Completion
	Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Eliminations			Total
North America	$	925	$	793	$	460	$	—		$	2,178
International		1,104		1,404		2,565		—			5,073
Eliminations		170		44		85		(299	)		—
	$	2,199	$	2,241	$	3,110	$	(299	)	$	7,251

Land	$	1,497	$	1,342	$	819	$	—		$	3,658
Offshore		532		855		2,206		—			3,593
Eliminations		170		44		85		(299	)		—
	$	2,199	$	2,241	$	3,110	$	(299	)	$	7,251

Summary of Changes in Carrying Amount of Contract Assets and Contract Liabilities

The changes in the carrying amount of contract assets and contract liabilities are as follows (in millions):

Contract Assets
Balance at December 31, 2017	$	495
Additions and Milestone Billings		(948	)
Revenue Recognized		1,094
Currency translation adjustments and other		(76	)
Balance at December 31, 2018	$	565

Contract Liabilities
Balance at December 31, 2017	$	519
Additions and Milestone Billings		861
Revenue Recognized		(798	)
Currency translation adjustments and other		(124	)
Balance at December 31, 2018	$	458

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income taxes were as follows (in millions):

	Years Ended December 31,
	2018			2017			2016
Domestic	$	(168	)	$	(470	)	$	(2,095	)
Foreign		209			78			(528	)
	$	41		$	(392	)	$	(2,623	)

Components of Provision for Income Taxes

The components of the provision for income taxes consisted of (in millions):

	Years Ended December 31,
	2018			2017			2016
Current:
Federal	$	(5	)	$	23		$	(79	)
State		(3	)		1			(4	)
Foreign		134			161			74
Total current income tax provision		126			185			(9	)
Deferred:
Federal		11			(332	)		(132	)
State		-			(2	)		(7	)
Foreign		(74	)		(7	)		(59	)
Total deferred income tax provision		(63	)		(341	)		(198	)
Total income tax provision	$	63		$	(156	)	$	(207	)

Difference Between Effective Tax Rate

The difference between the effective tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows (in millions):

	Years Ended December 31,
	2018			2017			2016
Federal income tax at U.S. statutory rate	$	9		$	(137	)	$	(918	)
Foreign income tax rate differential		(3	)		(21	)		32
Goodwill impairment		—			—			271
Nondeductible expenses		20			38			30
Foreign dividends, net of foreign tax credits		27			(132	)		(25	)
Tax rate change on timing differences		(7	)		(245	)		(8	)
Change in uncertain tax positions		(5	)		81			11
Prior years taxes		(13	)		(26	)		(29	)
Tax impact on foreign exchange		(3	)		5			(4	)
Change in deferred tax valuation allowance		49			280			476
State income taxes - net of federal benefit		(3	)		(1	)		(10	)
Tax exempt income		(5	)		-			(7	)
Income tax credits		(3	)		(4	)		-
Other		—			6			(26	)
Total income tax provision	$	63		$	(156	)	$	(207	)

Significant Components of Deferred Tax Assets and Liability

Significant components of our deferred tax assets and liabilities were as follows (in millions):

	December 31,
	2018			2017
Deferred tax assets:
Allowances and operating liabilities	$	293		$	355
Net operating loss carryforwards		182			182
Postretirement benefits		30			31
Tax credit carryforwards		768			1,002
Other		95			78
Valuation allowance		(955	)		(1,202	)
Total deferred tax assets		413			446
Deferred tax liabilities:
Tax over book depreciation		139			174
Intangible assets		688			716
Deferred income		70			111
Accrued tax on unremitted earnings		17			17
Other		52			92
Total deferred tax liabilities		966			1,110
Net deferred tax liability	$	553		$	664

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	2018			2017			2016
Unrecognized tax benefit at beginning of year	$	132		$	78		$	46
Gross increase for current period tax positions		15			10			3
Gross increase for tax positions in prior years		31			64			65
Gross decrease for tax positions in prior years		(10	)		(14	)		(21	)
Settlements		(69	)		—			(3	)
Lapse of statute of limitations		(1	)		(6	)		(12	)
Unrecognized tax benefit at end of year	$	98		$	132		$	78

Summary of Net Operating Loss Carryforwards

Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2018 were as follows (in millions):


	Federal			State			Foreign			Total
2019 - 2021 Expiration	$	6		$	2		$	51		$	59
2022 - 2033 Expiration		16			20			142			178
2034 - 2038 Expiration		12			122			94			228
Unlimited Expiration		—			—			428			428
Total Net Operating Loss (NOL)	$	34		$	144		$	715		$	893
Tax Effected NOL	$	7		$	8		$	167		$	182
Valuation Allowance (VA)		(6	)		(8	)		(140	)		(154	)
Tax Effected NOL Net of VA	$	1		$	—		$	27		$	28

Business Segments and Geographic Areas (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Revenues by Country Based on Sales Destination of Products or Services

The following table presents consolidated revenues by country based on sales destination of the products or services (in millions):

	Years Ended December 31,
	2018		2017		2016
United States	$	3,480	$	2,760	$	1,961
Saudi Arabia		444		310		258
Brazil		415		498		242
Norway		368		295		339
Singapore		321		188		340
United Kingdom		309		279		299
Canada		302		286		217
United Arab Emirates		248		223		334
China		231		298		557
South Korea		169		261		495
Other Countries		2,166		1,906		2,209
Total	$	8,453	$	7,304	$	7,251

Long-Lived Assets by Country Based on the Location

The following table presents long-lived assets by country based on the location (in millions):

	December 31,
	2018		2017
United States	$	1,603	$	1,675
Brazil		217		269
United Kingdom		125		140
Denmark		119		128
South Korea		91		97
Canada		79		84
Russia		69		90
United Arab Emirates		60		65
Mexico		48		71
Singapore		47		59
Other Countries		339		324
Total	$	2,797	$	3,002

Business Segments

The following table presents selected financial data by business segment (in millions):

	Wellbore Technologies			Completion & Production Solutions			Rig Technologies			Eliminations and corporate costs (1)			Total
December 31, 2018
Revenue	$	3,235		$	2,931		$	2,575		$	(288	)	$	8,453
Operating profit (loss)		131			166			213			(299	)		211
Capital expenditures		135			87			17			5			244
Depreciation and amortization		374			212			90			14			690
Goodwill		3,011			2,041			1,212			—			6,264
Total assets		7,929			6,233			3,906			1,728			19,796
December 31, 2017
Revenue	$	2,577		$	2,672		$	2,252		$	(197	)	$	7,304
Operating profit (loss)		(102	)		98			(14	)		(259	)		(277	)
Capital expenditures		99			69			16			8			192
Depreciation and amortization		379			215			88			16			698
Goodwill		2,956			2,122			1,149			—			6,227
Total assets		7,848			5,782			4,625			1,951			20,206
December 31, 2016
Revenue	$	2,199		$	2,241		$	3,110		$	(299	)	$	7,251
Operating profit (loss)		(770	)		(266	)		(1,033	)		(342	)		(2,411	)
Capital expenditures		124			61			24			75			284
Depreciation and amortization		384			209			94			16			703
Goodwill		2,874			2,058			1,135			—			6,067
Total assets		7,911			5,765			5,327			2,137			21,140

(1)

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results

Summarized quarterly results, were as follows (in millions, except per share data):

	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter
Year ended December 31, 2018
Revenue	$	1,795		$	2,106		$	2,154		$	2,398
Gross profit		287			355			393			409
Net profit (loss) attributable to Company		(68	)		24			1			12
Net profit (loss) attributable to Company per basic share		(0.18	)		0.06			0.00			0.03
Net profit (loss) attributable to Company per diluted share		(0.18	)		0.06			0.00			0.03
Cash dividends per share		0.05			0.05			0.05			0.05
Year ended December 31, 2017
Revenue	$	1,741		$	1,759		$	1,835		$	1,969
Gross profit (loss)		209			231			285			167
Net loss attributable to Company		(122	)		(75	)		(26	)		(14	)
Net loss attributable to Company per basic share		(0.32	)		(0.20	)		(0.07	)		(0.04	)
Net loss attributable to Company per diluted share		(0.32	)		(0.20	)		(0.07	)		(0.04	)
Cash dividends per share		0.05			0.05			0.05			0.05

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2019	Jun. 27, 2017
Significant Accounting Policies [Line Items]
Maturity period of investments description	three months or less
Minimum derivative financial instrument's term (months)	2 months
Maximum derivative financial instrument's term (months)	24 months
Additional inventory reserve charges	$ 49,000,000	$ 114,000,000	$ 606,000,000
Inventory reserves total	$ 644,000,000	$ 800,000,000
Percentage of inventory reserve	17.70%	21.00%
Depreciation expense related to property, plant and equipment	$ 349,000,000	$ 359,000,000	370,000,000
Accumulated depreciation	2,687,000,000	2,559,000,000
Accumulated depreciation for capital leases	30,000,000
Impairment of long-lived assets	21,000,000	10,000,000	54,000,000
Cash payment for acquisition	280,000,000	86,000,000	230,000,000
Net foreign currency transaction gains (losses)	(52,000,000)	(3,000,000)	$ (10,000,000)
Net revenue recognized from performance obligations satisfied in previous periods	65,000,000
Remaining performance obligations	1,813,000,000
Net allowances for doubtful accounts	$ 161,000,000	$ 187,000,000
Anti-dilutive stock options outstanding	20	12	14
Five Year Unsecured Revolving Credit Facility [Member]
Significant Accounting Policies [Line Items]
Credit facility, borrowing capacity					$ 3,000,000,000
Scenario, Forecast [Member] \| Five Year Unsecured Revolving Credit Facility [Member]
Significant Accounting Policies [Line Items]
Credit facility, borrowing capacity				$ 3,000,000,000
Scenario, Forecast [Member] \| Minimum [Member]
Significant Accounting Policies [Line Items]
Lease assets				500,000,000
Lease liabilities				500,000,000
Scenario, Forecast [Member] \| Maximum [Member]
Significant Accounting Policies [Line Items]
Lease assets				650,000,000
Lease liabilities				$ 650,000,000

Summary of Significant Accounting Policies - Additional Information (Detail 1) $ in Millions	Dec. 31, 2018 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 1,813
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, period	12 months
Remaining performance obligations	$ 887
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, period
Remaining performance obligations	$ 926

Summary of Significant Accounting Policies - Changes in Carrying Amount of Service and Product Warranties (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Product Warranties Disclosures [Abstract]
Beginning Balance	$ 135	$ 172
Net provisions for warranties issued during the year	38	46
Amounts incurred	(67)	(86)
Currency translation adjustments	(1)	3
Ending Balance	$ 105	$ 135

Summary of Significant Accounting Policies - Computation of Weighted Average Basic and Diluted Shares Outstanding (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net loss attributable to Company	$ 12	$ 1	$ 24	$ (68)	$ (14)	$ (26)	$ (75)	$ (122)	$ (31)	$ (237)	$ (2,412)
Denominator:
Basic—weighted average common shares outstanding									378	377	376
Dilutive effect of employee stock options and other unvested stock awards									0	0	0
Diluted outstanding shares									378	377	376
Basic loss attributable to Company per share	$ 0.03	$ 0.00	$ 0.06	$ (0.18)	$ (0.04)	$ (0.07)	$ (0.20)	$ (0.32)	$ (0.08)	$ (0.63)	$ (6.41)
Diluted loss attributable to Company per share	0.03	0.00	0.06	(0.18)	(0.04)	(0.07)	(0.20)	(0.32)	(0.08)	(0.63)	(6.41)
Cash dividends per share	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.20	$ 0.20	$ 0.61

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 6	$ 33
Derivative Liabilities	36	$ 11
Fair value of the Company's foreign currency forward contracts	30
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	6
Derivative Liabilities	$ 36

Derivative Financial Instruments - Outstanding Foreign Currency Forward Contracts (Detail) - Forward Contracts [Member] ₽ in Millions, € in Millions, ¥ in Millions, £ in Millions, kr in Millions, kr in Millions, R in Millions, $ in Millions, $ in Millions	Dec. 31, 2018 USD ($)	Dec. 31, 2018 NOK (kr)	Dec. 31, 2018 JPY (¥)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 DKK (kr)	Dec. 31, 2018 GBP (£)	Dec. 31, 2018 MXN ($)	Dec. 31, 2018 ZAR (R)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 NOK (kr)	Dec. 31, 2017 JPY (¥)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 DKK (kr)	Dec. 31, 2017 GBP (£)	Dec. 31, 2017 ZAR (R)	Dec. 31, 2017 RUB (₽)
Derivative [Line Items]
Foreign currency, Cash flow hedging	$ 96	kr 4,118	¥ 121	€ 71	kr 14	£ 9			$ 163	kr 4,013	¥ 982	€ 120	kr 30	£ 11
Foreign currency, Non-designated hedging	$ 535	kr 1,111		€ 101	kr 21	£ 3	$ 204	R 124	$ 463	kr 1,734		€ 99	kr 15	£ 3	R 150	₽ 2,699

Derivative Financial Instruments - Derivative Instruments and their Balance Sheet Classifications (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 6	$ 33
Derivative Liabilities	36	11
Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	2	21
Derivative Liabilities	28	5
Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	4	12
Derivative Liabilities	8	6
Foreign Exchange Contracts [Member] \| Designated as Hedging Instruments [Member] \| Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	17	3
Foreign Exchange Contracts [Member] \| Not Designated as Hedging Instruments [Member] \| Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	6	5
Foreign Exchange Contracts [Member] \| Prepaid and Other Current Assets [Member] \| Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	2	13
Foreign Exchange Contracts [Member] \| Prepaid and Other Current Assets [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	4	10
Foreign Exchange Contracts [Member] \| Other Assets [Member] \| Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets		8
Foreign Exchange Contracts [Member] \| Other Assets [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets		2
Foreign Exchange Contracts [Member] \| Other Liabilities [Member] \| Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	11	2
Foreign Exchange Contracts [Member] \| Other Liabilities [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 2	$ 1

Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivative	$ (30)	$ 58
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	(25)	56
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	2	(11)
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(7)	9
Foreign Exchange Contracts [Member] \| Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(2)	8
Foreign Exchange Contracts [Member] \| Cost of Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	4	(19)
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	2	7
Foreign Exchange Contracts [Member] \| Other income (expense), net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(9)	2
Foreign Exchange Contracts [Member] \| Other income (expense), net [Member] \| Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivative	(30)	58
Foreign Exchange Contracts [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ (25)	$ 56

Inventories, net - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 614	$ 656
Work in process	501	513
Finished goods and purchased products	1,871	1,834
Total	$ 2,986	$ 3,003

Property, Plant and Equipment - Property, Plant and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 5,484	$ 5,561
Less: Accumulated Depreciation	(2,687)	(2,559)
Property, plant and equipment, net	2,797	3,002
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	227	252
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 1,271	1,340
Estimated Useful Lives	5-35 Years
Operating Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 3,140	3,169
Estimated Useful Lives	3-15 Years
Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 597	581
Estimated Useful Lives	3-12 Years
Capital Leases [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment Gross	$ 249	$ 219
Estimated Useful Lives	20-24 Years

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Indefinite-lived Intangible Assets [Line Items]
Goodwill		$ 6,264	$ 6,227	$ 6,067
Identifiable intangible assets		$ 3,020	$ 3,301
Estimated useful lives of intangible assets, minimum		2 years
Estimated useful lives of intangible assets, maximum		30 years
Amortization expense, 2019		$ 336
Amortization expense, 2020		319
Amortization expense, 2021		308
Amortization expense, 2022		302
Amortization expense, 2023		280
Floating Production Systems [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 277
Rig Offshore [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of goodwill	$ 972
Indefinite-lived Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 383

Goodwill and Intangible Assets - Goodwill Identified by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 6,227	$ 6,067
Goodwill acquired and adjusted during period	102	89
Currency translation adjustments	(65)	71
Goodwill, Ending Balance	6,264	6,227
Wellbore Technologies [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	2,956	2,874
Goodwill acquired and adjusted during period	64	37
Currency translation adjustments	(9)	45
Goodwill, Ending Balance	3,011	2,956
Completion & Production Solutions [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	2,122	2,058
Goodwill acquired and adjusted during period	(33)	41
Currency translation adjustments	(48)	23
Goodwill, Ending Balance	2,041	2,122
Rig Technologies [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	1,149	1,135
Goodwill acquired and adjusted during period	71	11
Currency translation adjustments	(8)	3
Goodwill, Ending Balance	$ 1,212	$ 1,149

Goodwill and Intangible Assets - Identified Intangible Assets Identified by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	$ 3,301	$ 3,530
Additions to intangible assets	99	61
Amortization	(341)	(339)
Currency translation adjustments	(39)	49
Ending Balance	3,020	3,301
Wellbore Technologies [Member]
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	1,883	2,064
Additions to intangible assets	41	18
Amortization	(201)	(208)
Currency translation adjustments	12	9
Ending Balance	1,735	1,883
Completion & Production Solutions [Member]
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	1,160	1,191
Additions to intangible assets	3	41
Amortization	(111)	(108)
Currency translation adjustments	(47)	36
Ending Balance	1,005	1,160
Rig Technologies [Member]
Intangible Asset Excluding Goodwill [Line Items]
Beginning Balance	258	275
Additions to intangible assets	55	2
Amortization	(29)	(23)
Currency translation adjustments	(4)	4
Ending Balance	$ 280	$ 258

Goodwill and Intangible Assets - Identified Intangible Assets by Major Classification (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	$ 6,504	$ 6,444
Accumulated Amortization	(3,484)	(3,143)
Net Book Value	3,020	3,301	$ 3,530
Indefinite-lived Trade Names [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	383	384
Net Book Value	383	384
Customer Relationships [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	4,078	4,074
Accumulated Amortization	(2,352)	(2,118)
Net Book Value	1,726	1,956
Trademarks [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	891	885
Accumulated Amortization	(341)	(317)
Net Book Value	550	568
Patents [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	661	602
Accumulated Amortization	(414)	(384)
Net Book Value	247	218
Other [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Gross	491	499
Accumulated Amortization	(377)	(324)
Net Book Value	$ 114	$ 175

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Vendor costs	$ 127	$ 150
Compensation	331	345
Taxes (non income)	124	152
Warranty	105	135	$ 172
Insurance	55	74
Fair value of derivatives	23	8
Commissions	34	58
Interest	7	7
Other	282	309
Total	$ 1,088	$ 1,238

Debt - Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Senior Notes	$ 2,482	$ 2,480
Capital Leases and other debt	229	232
Total debt	2,711	2,712
Less current portion	7	6
Long-term debt	2,704	2,706
Senior Notes, Interest at 2.60% Payable Semiannually, Principal Due on December 1, 2022 [Member]
Debt Instrument [Line Items]
Senior Notes	1,394	1,392
Senior Notes, Interest at 3.95% Payable Semiannually, Principal Due on December 1, 2042 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,088	$ 1,088

Debt - Debt (Parenthetical) (Detail) - USD ($)	12 Months Ended
Debt - Debt (Parenthetical) (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Senior Notes, Interest at 2.60% Payable Semiannually, Principal Due on December 1, 2022 [Member]
Debt Instrument [Line Items]
Senior note face amount	$ 1,400,000,000	$ 1,400,000,000
Senior notes interest rate	2.60%	2.60%
Senior note due date	Dec. 01, 2022	Dec. 01, 2022
Senior Notes, Interest at 3.95% Payable Semiannually, Principal Due on December 1, 2042 [Member]
Debt Instrument [Line Items]
Senior note face amount	$ 1,100,000,000	$ 1,100,000,000
Senior notes interest rate	3.95%	3.95%
Senior note due date	Dec. 01, 2042	Dec. 01, 2042

Debt - Principal Payments of Debt and Capital Leases (Detail) $ in Millions	Dec. 31, 2018 USD ($)
Debt Disclosure [Abstract]
2019	$ 7
2020	7
2021	7
2022	1,402
2023	8
Thereafter	1,280
Total debt	$ 2,711

Debt - Additional Information (Detail) - USD ($)			12 Months Ended
Debt - Additional Information (Detail) - USD ($)	Nov. 29, 2017	Jun. 27, 2017	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Interest rate under multi currency facility			LIBOR, NIBOR or CDOR plus 1.125%
Capitalization ratio, Maximum			60.00%
Capitalization ratio, Actual			16.30%
Funds available under revolving credit facility			$ 3,000,000,000
Outstanding letters of credit under various bilateral letter of credit facilities			480,000,000
Carrying value of Unsecured Senior Notes			2,482,000,000	$ 2,480,000,000
Fair Value, Inputs, Level 2 [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
Fair value of Unsecured Senior Notes			$ 2,211,000,000	$ 2,346,000,000
Senior Notes, Interest at 1.35% Payable Semiannually, Principal Due on December 1, 2017 [Member]
Debt Instrument [Line Items]
Repayment of debt	$ 500,000,000
Senior notes interest rate	1.35%
Canadian Dollar Offered Rate (CDOR) [Member]
Debt Instrument [Line Items]
Variable rate		1.125%
Five Year Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity		$ 3,000,000,000
Credit facility, maturity date			Jun. 27, 2022
Credit facility, extendable borrowing capacity		4,000,000,000
Variable rate basis			LIBOR, NIBOR or CDOR plus
Previous Five Year Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity		$ 4,500,000,000
Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, Period			5 years
Five Year Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity			$ 3,000,000,000
Credit facility, Period			5 years
Borrowings under commercial paper			$ 0
Outstanding letters of credit issued			$ 0

Employee Benefit Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) Employee	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Compensation Related Costs Disclosure [Line Items]
Expenses for defined-contribution plans	$ 68	$ 64	$ 66
Net periodic benefit cost	(3)	$ 1	$ 5
Defined benefit plan, expected future benefit payments in year five	$ 33
Expected years of defined benefit plans	5 years
Expected future benefit amounts to pay, total	$ 319
United States [Member]
Compensation Related Costs Disclosure [Line Items]
Number of U.S. employees participate in defined benefit health care plans \| Employee	43
Number of U.S retirees and spouses participate in defined benefit health care plans \| Employee	1,694

Employee Benefit Plans - Change in Benefit Obligation, Plan Assets and Funded Status of Defined Benefit Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	$ 588
Fair value of plan assets at end of year	517	$ 588
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	633	622
Service cost	1	1
Interest cost	18	20
Actuarial loss (gain)	(24)	6
Benefits paid	(40)	(31)
Exchange rate loss (gain)	(15)	30
Plan amendments	4
Settlements	(2)	(15)
Benefit obligation at end of year	575	633
Fair value of plan assets at beginning of year	588	543
Actual return	(21)	57
Benefits paid	(40)	(31)
Company contributions	5	11
Exchange rate gain (loss)	(13)	24
Settlements	(2)	(15)
Other		(1)
Fair value of plan assets at end of year	517	588
Funded status	(58)	(45)
Accumulated benefit obligation at end of year	572	630
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	62	92
Interest cost	2	3
Actuarial loss (gain)	(8)	(17)
Benefits paid	(13)	(14)
Participants contributions	2	2
Curtailments		(4)
Benefit obligation at end of year	45	62
Benefits paid	(13)	(14)
Company contributions	11	12
Participants contributions	2	2
Funded status	$ (45)	$ (62)

Employee Benefit Plans - Assumption Rates Used for Benefit Obligations (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	3.90%	3.00%
Discount rate maximum	4.20%	3.60%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	1.80%	1.80%
Discount rate maximum	2.90%	2.40%
Salary increase minimum	1.80%	1.80%
Salary increase maximum	3.40%	3.30%

Employee Benefit Plans - Assumption Rates Used for Net Periodic Benefit Costs (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	3.10%	3.10%	3.20%
Discount rate maximum	3.60%	4.00%	4.20%
Expected return on assets	5.60%	5.60%	5.60%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate minimum	1.80%	1.80%	2.20%
Discount rate maximum	2.40%	2.80%	3.70%
Salary increase minimum	1.80%	1.80%	2.00%
Salary increase maximum	3.30%	3.50%	4.20%
Expected return on assets, minimum	1.80%	1.80%	1.80%
Expected return on assets, maximum	4.00%	3.00%	3.00%

Employee Benefit Plans - Plan's Assets Carried at Fair Value (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	$ 517	$ 588
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	140	161
Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	209	284
Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	168	143
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	462	527
Fair Value, Inputs, Level 2 [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	140	161
Fair Value, Inputs, Level 2 [Member] \| Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	209	284
Fair Value, Inputs, Level 2 [Member] \| Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	113	82
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	55	61	$ 53
Fair Value, Inputs, Level 3 [Member] \| Other Contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Fair Value Measurements	$ 55	$ 61

Employee Benefit Plans - Summary of Changes in Fair Value of Plan's Level Three Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	$ 588
Fair value of plan assets at end of year	517	$ 588
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	61	53
Actual return on plan assets still held at reporting date	(1)	2
Purchases, sales and settlements	(2)	(1)
Currency translation adjustments	(3)	7
Fair value of plan assets at end of year	$ 55	$ 61

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 14,160	$ 14,003	$ 16,460
Ending Balance	13,889	14,160	14,003
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,104)	(1,376)	(1,279)
Accumulated other comprehensive income (loss) before reclassifications	(298)	272	(97)
Amounts reclassified from accumulated other comprehensive income (loss)	6
Ending Balance	(1,396)	(1,104)	(1,376)
Derivative Financial Instruments, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	7	(39)	(205)
Accumulated other comprehensive income (loss) before reclassifications	(19)	41	32
Amounts reclassified from accumulated other comprehensive income (loss)	(2)	5	134
Ending Balance	(14)	7	(39)
Defined Benefit Plans, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(13)	(37)	(69)
Accumulated other comprehensive income (loss) before reclassifications	(13)	25	35
Amounts reclassified from accumulated other comprehensive income (loss)	(1)	(1)	(3)
Ending Balance	(27)	(13)	(37)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,110)	(1,452)	(1,553)
Accumulated other comprehensive income (loss) before reclassifications	(330)	338	(30)
Amounts reclassified from accumulated other comprehensive income (loss)	3	4	131
Ending Balance	$ (1,437)	$ (1,110)	$ (1,452)

Accumulated Other Comprehensive Income (Loss) - Components of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	$ 2,398	$ 2,154	$ 2,106	$ 1,795	$ 1,969	$ 1,835	$ 1,759	$ 1,741	$ 8,453	$ 7,304	$ 7,251
Selling, general, and administrative									(1,233)	(1,169)	(1,338)
Other income (expense), net									(99)	(33)	(101)
Tax effect									(63)	156	207
Net loss attributable to Company	$ 12	$ 1	$ 24	$ (68)	$ (14)	$ (26)	$ (75)	$ (122)	(31)	(237)	(2,412)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue									2	(8)	(5)
Cost of revenue									(6)	12	191
Selling, general, and administrative									(1)	(1)	(5)
Other income (expense), net									6
Tax effect									2	1	(50)
Net loss attributable to Company									3	4	131
Currency Translation Adjustments [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other income (expense), net									6
Net loss attributable to Company									6
Derivative Financial Instruments, Net of Tax [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue									2	(8)	(5)
Cost of revenue									(6)	12	191
Tax effect									2	1	(52)
Net loss attributable to Company									(2)	5	134
Defined Benefit Plans, Net of Tax [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Selling, general, and administrative									(1)	(1)	(5)
Tax effect											2
Net loss attributable to Company									$ (1)	$ (1)	$ (3)

Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	$ (298)	$ 272	$ (97)
Other Nonoperating Income Expense	(99)	(33)	(101)
Changes in derivative financial instruments, net of tax	(21)	46	166
Changes in derivative financial instruments, tax	2	$ 13	$ 65
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Nonoperating Income Expense	6
Currency Translation Adjustments [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Nonoperating Income Expense	$ 6

Commitments and Contingencies - Future Minimum Lease Commitments Under Capital Leases and Noncancellable Operating Leases with Initial or Remaining Terms of One Year or More (Detail) $ in Millions	Dec. 31, 2018 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Capital Lease Payments, 2019	$ 15
Capital Lease Payments, 2020	15
Capital Lease Payments, 2021	15
Capital Lease Payments, 2022	15
Capital Lease Payments, 2023	15
Capital Lease Payments, Thereafter	262
Total Capital Lease Payments	337
Operating Lease Payments, 2019	126
Operating Lease Payments, 2020	106
Operating Lease Payments, 2021	88
Operating Lease Payments, 2022	68
Operating Lease Payments, 2023	51
Operating Lease Payments, Thereafter	293
Total Operating Lease Payments	$ 732

Common Stock - Additional Information (Detail) $ / shares in Units, $ in Millions				12 Months Ended
	May 11, 2018 $ / shares shares	Feb. 28, 2018 $ / shares shares	Dec. 20, 2017 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) Installment $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock, authorized				1,000,000,000	1,000,000,000
Number of preferred stock, authorized				10,000,000
Common stock, par value \| $ / shares				$ 0.01	$ 0.01
Preferred stock, par value \| $ / shares				$ 0.01
Preferred stock, shares issued				0
Preferred stock, shares outstanding				0
Aggregated cash dividends paid \| $				$ 76	$ 76	$ 230
Stock-based compensation expense \| $				110	124	107
Income tax provision recognized \| $				$ 16	$ 24	$ 30
Earlier authorized shares under stock based compensation \| shares				69,400,000
Duration of performance-based restricted stock awards, vested				Options granted under our stock option plan generally vest over a three-year period starting one year from the date of grant and expire ten years from the date of grant.
Stock option, Minimum Range \| $ / shares				$ 23.94
Stock option, Maximum Range \| $ / shares				77.99
Weighted average grant-date fair value of options \| $ / shares				$ 10.01	$ 9.68	$ 6.44
Total intrinsic value of options exercised \| $				$ 54	$ 13
Total unrecognized compensation cost related to nonvested stock options \| $				$ 25
Compensation cost not yet recognized, period for recognition				3 years
Total fair value of stock options vested \| $				$ 26	70	$ 61
Cash received from option exercises \| $				54	13	4
Tax benefit (expense) realized for the tax deductions from option exercises \| $				$ 2	$ (2)	$ 0
Stock options granted				1,610,599	6,961,041	3,672,411
Weighted average exercise price per share of options \| $ / shares				$ 35.09	$ 36.51	$ 28.26
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights exchange percentage			94.75%
Cash payment of stock appreciation rights \| $			$ 14
Cash paid to settle SARs \| $				$ 0
Compensation cost recognized \| $				$ 0	$ 8	$ 20
Shares granted				14,228	14,400
Restricted stock granted fair value \| $ / shares				$ 35.09	$ 38.86
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of options \| $ / shares			$ 8.47
Stock options granted			3,613,707
Weighted average exercise price per share of options \| $ / shares			$ 34.32
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of performance-based restricted stock awards, vested				The restricted stock and restricted stock units vest in three equal annual installments commencing on the first anniversary of the date of grant.
Shares granted		2,391,933		2,657,115	1,738,589	3,384,325
Restricted stock granted fair value \| $ / shares		$ 35.09		$ 35.17	$ 38.74	$ 31.59
Number of equal annual vesting installments \| Installment				3
Total number of restricted stock awards and restricted stock units vested				1,242,682	1,018,206	565,202
Performance-base restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of performance goal				The performance share awards can be earned based on performance against established goals over a three-year performance period.
Performance-base restricted stock [Member] \| Senior Management Employees [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		0
Performance-base restricted stock [Member] \| Senior Management Employees [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		449,532
TSR Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of performance goal				The performance share awards are based entirely on a TSR (total shareholder return) goal. Performance against the TSR goal is determined by comparing the performance of the Company’s TSR with the TSR performance of the members of the OSX (Oil Service Sector) index for the three-year performance period.
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to nonvested stock options \| $				$ 108
Compensation cost not yet recognized, period for recognition				2 years
Restricted stock granted fair value \| $ / shares				$ 35.17	$ 38.74	$ 31.59
Total number of restricted stock awards and restricted stock units vested				1,242,682	1,018,206	565,202
2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares under stock based compensation				17,800,000
Remaining shares available for future grants under the Plan				17,700,000
2018 Plan [Member] \| Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	35,432
Restricted stock granted fair value \| $ / shares	$ 40.65

Common Stock - Summary of Stock Options (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of shares under stock option, Beginning of the year	22,472,047	17,439,060	15,430,307
Number of Shares Granted	1,610,599	6,961,041	3,672,411
Number of Shares Forfeited	(1,318,380)	(1,482,531)	(1,517,065)
Number of Shares Exercised	(1,754,758)	(445,523)	(146,593)
Number of shares under stock option, End of the year	21,009,508	22,472,047	17,439,060
Number of stock options vested and expected to be vest, exercisable	15,223,029	14,309,944	9,828,897
Weighted Average Exercise Price, Beginning of year	$ 48.99	$ 54.08	$ 59.50
Weighted Average Exercise Price, Stock Options Granted	35.09	36.51	28.26
Weighted Average Exercise Price, Stock Options Forfeited	57.56	55.22	49.95
Weighted Average Exercise Price, Stock Options Exercised	44.12	29.83	28.53
Weighted Average Exercise Price, End of the year	48.88	48.99	54.08
Weighted Average Exercise Price, Stock Options Exercisable	$ 54.13	$ 55.00	$ 61.56

Common Stock - Summary of Stock Option Outstanding Information (Detail)	12 Months Ended
	Dec. 31, 2018 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	6 years 4 days
Stock Options Outstanding, Shares \| shares	21,009,508
Stock Options Outstanding, Weighted - Average Exercise Price	$ 48.88
Stock Options Exercisable, Shares \| shares	15,223,029
Stock Options Exercisable, Weighted - Average Exercise Price	$ 54.13
Stock option, Minimum Range	23.94
Stock option, Maximum Range	$ 77.99
$23.94 - $55.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	6 years 9 months 22 days
Stock Options Outstanding, Shares \| shares	15,179,485
Stock Options Outstanding, Weighted - Average Exercise Price	$ 40.68
Stock Options Exercisable, Shares \| shares	9,393,006
Stock Options Exercisable, Weighted - Average Exercise Price	$ 44.14
Stock option, Minimum Range	23.94
Stock option, Maximum Range	$ 55.00
$55.01 - $70.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	4 years 8 months 9 days
Stock Options Outstanding, Shares \| shares	3,658,652
Stock Options Outstanding, Weighted - Average Exercise Price	$ 66.82
Stock Options Exercisable, Shares \| shares	3,658,652
Stock Options Exercisable, Weighted - Average Exercise Price	$ 66.82
Stock option, Minimum Range	55.01
Stock option, Maximum Range	$ 70.00
$70.01 - $77.99
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-Avg Remaining Contractual Life	2 years 8 months 9 days
Stock Options Outstanding, Shares \| shares	2,171,371
Stock Options Outstanding, Weighted - Average Exercise Price	$ 75.95
Stock Options Exercisable, Shares \| shares	2,171,371
Stock Options Exercisable, Weighted - Average Exercise Price	$ 75.95
Stock option, Minimum Range	70.01
Stock option, Maximum Range	$ 77.99

Common Stock - Assumption Used in Determination of Fair Value of Share Based Payment Awards (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected volatility	31.80%	36.10%	48.60%
Risk-free interest rate	2.70%	2.20%	1.20%
Expected dividend yield	0.60%	0.60%	6.50%
Expected term (in years)	4 years 3 months 19 days	3 years	3 years

Common Stock - Summary of Information and Changes in Stock Options with Regard to Stock Option Plans (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of shares under stock option, Beginning of the year	22,472,047	17,439,060	15,430,307
Number of Shares Granted	1,610,599	6,961,041	3,672,411
Number of Shares Forfeited	(1,318,380)	(1,482,531)	(1,517,065)
Number of Shares Exercised	(1,754,758)	(445,523)	(146,593)
Number of shares under stock option, End of the year	21,009,508	22,472,047	17,439,060
Number of stock options, Exercisable	15,223,029	14,309,944	9,828,897
Weighted Average Exercise Price, Beginning of year	$ 48.99	$ 54.08	$ 59.50
Weighted Average Exercise Price, Stock Options Granted	35.09	36.51	28.26
Weighted Average Exercise Price, Stock Options Forfeited	57.56	55.22	49.95
Weighted Average Exercise Price, Stock Options Exercised	44.12	29.83	28.53
Weighted Average Exercise Price, End of the year	48.88	48.99	54.08
Weighted Average Exercise Price, Stock Options, Exercisable	$ 54.13	$ 55.00	$ 61.56
Weighted Average Remaining Contractual Term, Outstanding	6 years 4 days	6 years 7 months 28 days
Weighted Average Remaining Contractual Term, Exercisable	5 years 2 months 27 days
Stock Options Aggregate Intrinsic Value, Beginning	$ 34,186,368
Stock Options Aggregate Intrinsic Value, Ending	458,576	$ 34,186,368
Stock Options Average Aggregate Intrinsic Value, Exercisable	$ 458,576

Common Stock - Summary of Information Regarding Outstanding SARs (Detail) - Stock Appreciation Rights (SARs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Outstanding, Beginning balance	1,493,689	4,341,740
Granted	14,228	14,400
Forfeited	(83,124)	(283,822)
Exercised	(25,491)	(2,578,629)
Restricted Shares Outstanding, Ending balance	1,399,302	1,493,689
Exercisable at end of year	165,755	75,102
Weighted-Average Grant Date Fair Value of Restricted Stock, Beginning Balance	$ 28.41	$ 28.32
Granted	35.09	38.86
Forfeited	28.32	28.35
Exercised	42.61	34.72
Weighted-Average Grant Date Fair Value of Restricted Stock, Ending Balance	28.49	28.41
Average Exercise Price, Exercisable at end of year	$ 28.57	$ 28.33

Common Stock - Summary of Information Regarding Outstanding Restricted Shares (Detail) - Restricted Stock and Restricted Stock Units [Member] - $ / shares		12 Months Ended
	Feb. 28, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Outstanding, Beginning balance		4,889,678	4,563,983	1,969,250
Restricted Stock Granted, Shares	2,391,933	2,657,115	1,738,589	3,384,325
Restricted Stock Vested, Shares		(1,242,682)	(1,018,206)	(565,202)
Restricted Stock Forfeited, Shares		(389,251)	(394,688)	(224,390)
Restricted Shares Outstanding, Ending balance		5,914,860	4,889,678	4,563,983
Weighted-Average Grant Date Fair Value of Restricted Stock, Beginning Balance		$ 37.04	$ 41.10	$ 61.53
Restricted Stock Granted, Weighted-Average Grant Date Fair Value	$ 35.09	35.17	38.74	31.59
Restricted Stock Vested, Weighted-Average Grant Date Fair Value		34.86	34.84	29.32
Restricted Stock Forfeited, Weighted-Average Grant Date Fair Value		57.56	55.22	49.95
Weighted-Average Grant Date Fair Value of Restricted Stock, Ending Balance		$ 34.41	$ 37.04	$ 41.10

Revenue Recognition - Additional Information (Detail)	12 Months Ended
Revenue Recognition - Additional Information (Detail)	Dec. 31, 2018 USD ($) Customer	Dec. 31, 2017 USD ($) Customer	Dec. 31, 2016 Customer
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Impairment losses on contract assets	$ 0	$ 0
Advance payments and deferred revenue	$ 240,000,000
Customer Concentration Risk [Member] \| Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Concentration risk, number of customers \| Customer	0	0	0
Concentration risk, percentage	10.00%	10.00%	10.00%

Revenue Recognition - Summary of Changes in Carrying Amount of Contract Assets and Contract Liabilities (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Change in Contract with Customer, Asset and Liability [Abstract]
Balance at December 31, 2017	$ 495
Additions and Milestone Billings	(948)
Revenue Recognized	1,094
Currency translation adjustments and other	(76)
Balance at December 31, 2018	565
Balance at December 31, 2017	519
Additions and Milestone Billings	861
Revenue Recognized	(798)
Currency translation adjustments and other	(124)
Balance at December 31, 2018	$ 458

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Tax Credit Carryforward [Line Items]
Federal statutory income tax rate	21.00%	35.00%
Income tax benefit related to revaluation of net deferred tax liability		$ 242
Effective income tax rate	153.70%	39.80%
Unrecognized tax benefit	$ 98	$ 132	$ 78	$ 46
Decrease in unrecognized tax benefits from settlements of foreign jurisdiction audit	69		3
Increase in unrecognized tax position from completion of audits of foreign jurisdictions from prior years	31	64	65
Decrease in unrecognized tax benefits is reasonably possible	7
Income tax interest and penalties related to unrecognized tax benefit	0	17	$ 10
Accrued income tax interest and penalties related to unrecognized tax benefit	12	$ 32
Foreign tax credit	766
Net operating loss carry forward	893
Tax-deductible goodwill	133
Undistributed earnings of foreign subsidiaries	$ 3,254
Maximum [Member]
Tax Credit Carryforward [Line Items]
Period of amortization of goodwill	12 years
Carry Forward Expiration Year 2020 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	$ 10
Carry Forward Expiration Year 2022 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	141
Carry Forward Expiration Year 2026 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	286
Carry Forward Expiration Year 2027 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	142
Carry Forward Expiration Year 2028 [Member]
Tax Credit Carryforward [Line Items]
Net operating loss carry forward	$ 187

Income Taxes - Domestic and Foreign Components of Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income before income taxes, Domestic	$ (168)	$ (470)	$ (2,095)
Income before income taxes, Foreign	209	78	(528)
Income before income taxes	$ 41	$ (392)	$ (2,623)

Income Taxes - Components of Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ (5)	$ 23	$ (79)
State	(3)	1	(4)
Foreign	134	161	74
Total current income tax provision	126	185	(9)
Deferred:
Federal	11	(332)	(132)
State		(2)	(7)
Foreign	(74)	(7)	(59)
Total deferred income tax provision	(63)	(341)	(198)
Total income tax provision	$ 63	$ (156)	$ (207)

Income Taxes - Difference Between Effective Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax at U.S. statutory rate	$ 9	$ (137)	$ (918)
Foreign income tax rate differential	(3)	(21)	32
Goodwill impairment			271
Nondeductible expenses	20	38	30
Foreign dividends, net of foreign tax credits	27	(132)	(25)
Tax rate change on timing differences	(7)	(245)	(8)
Change in uncertain tax positions	(5)	81	11
Prior years taxes	(13)	(26)	(29)
Tax impact on foreign exchange	(3)	5	(4)
Change in deferred tax valuation allowance	49	280	476
State income taxes - net of federal benefit	(3)	(1)	(10)
Tax exempt income	(5)		(7)
Income tax credits	(3)	(4)
Other		6	(26)
Total income tax provision	$ 63	$ (156)	$ (207)

Income Taxes - Significant Components of Deferred Tax Assets and Liability (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowances and operating liabilities	$ 293	$ 355
Net operating loss carryforwards	182	182
Postretirement benefits	30	31
Tax credit carryforwards	768	1,002
Other	95	78
Valuation allowance	(955)	(1,202)
Total deferred tax assets	413	446
Deferred tax liabilities:
Tax over book depreciation	139	174
Intangible assets	688	716
Deferred income	70	111
Accrued tax on unremitted earnings	17	17
Other	52	92
Total deferred tax liabilities	966	1,110
Net deferred tax liability	$ 553	$ 664

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized tax benefit at beginning of year	$ 132	$ 78	$ 46
Gross increase for current period tax positions	15	10	3
Gross increase for tax positions in prior years	31	64	65
Gross decrease for tax positions in prior years	(10)	(14)	(21)
Settlements	(69)		(3)
Lapse of statute of limitations	(1)	(6)	(12)
Unrecognized tax benefit at end of year	$ 98	$ 132	$ 78

Income Taxes - Summary of Net Operating Loss Carryforwards (Detail) $ in Millions	Dec. 31, 2018 USD ($)
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	$ 893
Tax Effected NOL	182
Valuation Allowance (VA)	(154)
Tax Effected NOL Net of VA	28
Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	34
Tax Effected NOL	7
Valuation Allowance (VA)	(6)
Tax Effected NOL Net of VA	1
State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	144
Tax Effected NOL	8
Valuation Allowance (VA)	(8)
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	715
Tax Effected NOL	167
Valuation Allowance (VA)	(140)
Tax Effected NOL Net of VA	27
2019 - 2021 Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	59
2019 - 2021 Expiration [Member] \| Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	6
2019 - 2021 Expiration [Member] \| State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	2
2019 - 2021 Expiration [Member] \| Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	51
2022 - 2033 Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	178
2022 - 2033 Expiration [Member] \| Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	16
2022 - 2033 Expiration [Member] \| State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	20
2022 - 2033 Expiration [Member] \| Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	142
2034 - 2038 Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	228
2034 - 2038 Expiration [Member] \| Federal [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	12
2034 - 2038 Expiration [Member] \| State [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	122
2034 - 2038 Expiration [Member] \| Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	94
Unlimited Expiration [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	428
Unlimited Expiration [Member] \| Foreign [Member]
Operating Loss Carryforwards [Line Items]
Total Net Operating Loss (NOL)	$ 428

Business Segments and Geographic Areas - Revenues by Country Based on Sales Destination of Products or Services (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,398	$ 2,154	$ 2,106	$ 1,795	$ 1,969	$ 1,835	$ 1,759	$ 1,741	$ 8,453	$ 7,304	$ 7,251
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									3,480	2,760	1,961
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									415	498	242
Saudi Arabia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									444	310	258
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									231	298	557
Norway [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									368	295	339
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									302	286	217
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									309	279	299
South Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									169	261	495
United Arab Emirates [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									248	223	334
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									321	188	340
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 2,166	$ 1,906	$ 2,209

Business Segments and Geographic Areas - Long-Lived Assets by Country Based on the Location (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 2,797	$ 3,002
United States [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	1,603	1,675
Brazil [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	217	269
United Kingdom [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	125	140
Denmark [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	119	128
South Korea [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	91	97
Russia [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	69	90
Canada [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	79	84
Mexico [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	48	71
United Arab Emirates [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	60	65
Singapore [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	47	59
Other Countries [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 339	$ 324

Business Segments and Geographic Areas - Business Segments (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 2,398	$ 2,154	$ 2,106	$ 1,795	$ 1,969	$ 1,835	$ 1,759	$ 1,741	$ 8,453	$ 7,304	$ 7,251
Operating profit (loss)									211	(277)	(2,411)
Capital expenditures									244	192	284
Depreciation and amortization									690	698	703
Goodwill	6,264				6,227				6,264	6,227	6,067
Total assets	19,796				20,206				19,796	20,206	21,140
Wellbore Technologies [Member]
Segment Reporting Information [Line Items]
Goodwill	3,011				2,956				3,011	2,956	2,874
Completion & Production Solutions [Member]
Segment Reporting Information [Line Items]
Goodwill	2,041				2,122				2,041	2,122	2,058
Rig Technologies [Member]
Segment Reporting Information [Line Items]
Goodwill	1,212				1,149				1,212	1,149	1,135
Eliminations and Corporate Costs [Member]
Segment Reporting Information [Line Items]
Revenue									(288)	(197)	(299)
Operating profit (loss)									(299)	(259)	(342)
Capital expenditures									5	8	75
Depreciation and amortization									14	16	16
Total assets	1,728				1,951				1,728	1,951	2,137
Operating Segments [Member] \| Wellbore Technologies [Member]
Segment Reporting Information [Line Items]
Revenue									3,235	2,577	2,199
Operating profit (loss)									131	(102)	(770)
Capital expenditures									135	99	124
Depreciation and amortization									374	379	384
Goodwill	3,011				2,956				3,011	2,956	2,874
Total assets	7,929				7,848				7,929	7,848	7,911
Operating Segments [Member] \| Completion & Production Solutions [Member]
Segment Reporting Information [Line Items]
Revenue									2,931	2,672	2,241
Operating profit (loss)									166	98	(266)
Capital expenditures									87	69	61
Depreciation and amortization									212	215	209
Goodwill	2,041				2,122				2,041	2,122	2,058
Total assets	6,233				5,782				6,233	5,782	5,765
Operating Segments [Member] \| Rig Technologies [Member]
Segment Reporting Information [Line Items]
Revenue									2,575	2,252	3,110
Operating profit (loss)									213	(14)	(1,033)
Capital expenditures									17	16	24
Depreciation and amortization									90	88	94
Goodwill	1,212				1,149				1,212	1,149	1,135
Total assets	$ 3,906				$ 4,625				$ 3,906	$ 4,625	$ 5,327

Quarterly Financial Data (Unaudited) - Summarized Quarterly Results (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 2,398	$ 2,154	$ 2,106	$ 1,795	$ 1,969	$ 1,835	$ 1,759	$ 1,741	$ 8,453	$ 7,304	$ 7,251
Gross profit (loss)	409	393	355	287	167	285	231	209	1,444	892	(101)
Net loss attributable to Company	$ 12	$ 1	$ 24	$ (68)	$ (14)	$ (26)	$ (75)	$ (122)	$ (31)	$ (237)	$ (2,412)
Basic loss attributable to Company per share	$ 0.03	$ 0.00	$ 0.06	$ (0.18)	$ (0.04)	$ (0.07)	$ (0.20)	$ (0.32)	$ (0.08)	$ (0.63)	$ (6.41)
Diluted loss attributable to Company per share	0.03	0.00	0.06	(0.18)	(0.04)	(0.07)	(0.20)	(0.32)	(0.08)	(0.63)	(6.41)
Cash dividends per share	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.20	$ 0.20	$ 0.61

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	$ 187	$ 209	$ 159
Additions (Deductions) charged to costs and expenses	17	6	52
Charge off's and other	(43)	(28)	(2)
Balance end of year	161	187	209
Reserve for Excess and Obsolete Inventories [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	800	1,017	500
Additions (Deductions) charged to costs and expenses	49	114	606
Charge off's and other	(205)	(331)	(89)
Balance end of year	644	800	1,017
Valuation Allowance for Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	1,202	544	63
Additions (Deductions) charged to costs and expenses	49	280	476
Charge off's and other	(296)	378	5
Balance end of year	955	1,202	544
Warranty Reserve [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance beginning of year	135	172	244
Additions (Deductions) charged to costs and expenses	38	46	50
Charge off's and other	(68)	(83)	(122)
Balance end of year	$ 105	$ 135	$ 172

Goodwill and Intangible Assets - Goodwill Identified by Segment (Parenthetical) (Detail) $ in Millions	Dec. 31, 2018 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment	$ 2,457

Business Segments and Geographic Areas - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018 Segment
Segment Reporting [Abstract]
Number of reportable segments	3