0000950170-22-020421 | 10-Q | XBRL Viewer

Print Document View Excel Document

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Oct. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	NOV
Security Exchange Name	NYSE
Entity Registrant Name	NOV INC.
Entity Central Index Key	0001021860
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		392,804,959
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	1-12317
Entity Tax Identification Number	76-0475815
Entity Address, Address Line One	7909 Parkwood Circle Drive
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	77036-6565
City Area Code	713
Local Phone Number	341-4802
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 998	$ 1,591
Receivables, net	1,623	1,321
Inventories, net	1,755	1,331
Contract assets	591	461
Prepaid and other current assets	212	198
Total current assets	5,179	4,902
Property, plant and equipment, net	1,757	1,823
Lease right-of-use assets, operating	345	361
Lease right-of-use assets, financing	170	176
Goodwill	1,505	1,527
Intangibles, net	501	503
Investment in unconsolidated affiliates	82	50
Other assets	222	208
Total assets	9,761	9,550
Current liabilities:
Accounts payable	774	612
Accrued liabilities	904	778
Contract liabilities	431	392
Current portion of lease liabilities	85	99
Current portion of long-term debt	10	5
Accrued income taxes	43	24
Total current liabilities	2,247	1,910
Lease liabilities	546	576
Long-term debt	1,720	1,708
Deferred income taxes	51	66
Other liabilities	267	226
Total liabilities	4,831	4,486
Commitments and contingencies
Stockholders’ equity:
Common stock - par value $.01; 1 billion shares authorized; 392,803,236 and 392,673,077 shares issued and outstanding at September 30, 2022 and December 31, 2021	4	4
Additional paid-in capital	8,718	8,685
Accumulated other comprehensive loss	(1,700)	(1,546)
Retained deficit	(2,154)	(2,146)
Total Company stockholders' equity	4,868	4,997
Noncontrolling interests	62	67
Total stockholders’ equity	4,930	5,064
Total liabilities and stockholders’ equity	$ 9,761	$ 9,550

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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	392,805,244	392,673,077
Common stock, shares outstanding	392,805,244	392,673,077

Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 1,889	$ 1,341	$ 5,164	$ 4,007
Cost of revenue	1,521	1,156	4,273	3,435
Gross profit	368	185	891	572
Selling, general and administrative	313	228	789	691
Operating income (loss)	55	(43)	102	(119)
Interest and financial costs	(19)	(19)	(57)	(58)
Interest income	6	3	12	7
Equity income (loss) in unconsolidated affiliates	12	(2)	32	(6)
Other income (expense), net	10	1	8	(25)
Net income (loss) before income taxes	64	(60)	97	(201)
Provision for income taxes	29	5	41	1
Net income (loss)	35	(65)	56	(202)
Net income attributable to noncontrolling interests	3	4	5	8
Net income (loss) attributable to Company	$ 32	$ (69)	$ 51	$ (210)
Net income (loss) attributable to Company per share:
Basic	$ 0.08	$ (0.18)	$ 0.13	$ (0.54)
Diluted	0.08	$ (0.18)	0.13	$ (0.54)
Cash dividends per share	$ 0.05		$ 0.15
Weighted average shares outstanding:
Basic	391	387	389	386
Diluted	393	387	393	386

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 35	$ (65)	$ 56	$ (202)
Currency translation adjustments	(26)	(42)	(88)	(24)
Changes in derivative financial instruments, net of tax	(13)	(6)	(34)	(12)
Changes in defined benefit plans, net of tax	(32)		(32)
Comprehensive loss	(36)	(113)	(98)	(238)
Comprehensive income attributable to noncontrolling interest	3	4	5	8
Comprehensive loss attributable to Company	$ (39)	$ (117)	$ (103)	$ (246)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI https://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 56	$ (202)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	225	231
Provision for inventory losses	(9)	25
Deferred income taxes	(13)	2
Loss on extinguishment of debt		7
Equity (income) loss in unconsolidated affiliates	(32)	6
Stock-based compensation	50	59
Impairment and loss on assets held for sale	125
Other, net	43	12
Change in operating assets and liabilities, net of acquisitions:
Receivables	(319)	(21)
Inventories	(430)	58
Contract assets	(127)	145
Prepaid and other current assets	(19)	25
Accounts payable	156	30
Accrued liabilities	18	(89)
Contract liabilities	39	71
Income taxes payable	19	(30)
Other assets/liabilities, net	(115)	(74)
Net cash provided by (used in) operating activities	(333)	255
Cash flows from investing activities:
Purchases of property, plant and equipment	(148)	(137)
Other	(25)	35
Net cash used in investing activities	(173)	(102)
Cash flows from financing activities:
Borrowings against lines of credit and other debt	16	51
Payments against lines of credit and other debt		(183)
Cash dividends paid	(59)
Financing leases	(18)	(20)
Other	(11)	(20)
Net cash used in financing activities	(72)	(172)
Effect of exchange rates on cash	(15)	(5)
Decrease in cash and cash equivalents	(593)	(24)
Cash and cash equivalents, beginning of period	1,591	1,692
Cash and cash equivalents, end of period	998	1,668
Cash payments (refunds) during the period for:
Interest	39	42
Income taxes	$ 91	$ (87)

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Deficit) [Member]	Total Company Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2020	$ 5,279,000,000	$ 4,000,000	$ 8,591,000,000	$ (1,509,000,000)	$ (1,876,000,000)	$ 5,210,000,000	$ 69,000,000
Beginning Balance, Shares at Dec. 31, 2020		388
Net income (loss)	(114,000,000)				(115,000,000)	(115,000,000)	1,000,000
Other comprehensive income (loss), net	(21,000,000)			(21,000,000)		(21,000,000)
Stock-based compensation	20,000,000		20,000,000			20,000,000
Common stock issued, shares		2
Withholding taxes	(13,000,000)		(13,000,000)			(13,000,000)
Other	(1,000,000)						(1,000,000)
Ending Balance at Mar. 31, 2021	5,150,000,000	$ 4,000,000	8,598,000,000	(1,530,000,000)	(1,991,000,000)	5,081,000,000	69,000,000
Ending Balance, Shares at Mar. 31, 2021		390
Beginning Balance at Dec. 31, 2020	5,279,000,000	$ 4,000,000	8,591,000,000	(1,509,000,000)	(1,876,000,000)	5,210,000,000	69,000,000
Beginning Balance, Shares at Dec. 31, 2020		388
Net income (loss)	(202,000,000)
Cash dividends, per common share	0
Ending Balance at Sep. 30, 2021	5,078,000,000	$ 4,000,000	8,637,000,000	(1,545,000,000)	(2,086,000,000)	5,010,000,000	68,000,000
Ending Balance, Shares at Sep. 30, 2021		391
Beginning Balance at Mar. 31, 2021	5,150,000,000	$ 4,000,000	8,598,000,000	(1,530,000,000)	(1,991,000,000)	5,081,000,000	69,000,000
Beginning Balance, Shares at Mar. 31, 2021		390
Net income (loss)	(23,000,000)				(26,000,000)	(26,000,000)	3,000,000
Other comprehensive income (loss), net	33,000,000			33,000,000		33,000,000
Stock-based compensation	20,000,000		20,000,000			20,000,000
Common stock issued, shares		1
Other	(2,000,000)						(2,000,000)
Ending Balance at Jun. 30, 2021	5,178,000,000	$ 4,000,000	8,618,000,000	(1,497,000,000)	(2,017,000,000)	5,108,000,000	70,000,000
Ending Balance, Shares at Jun. 30, 2021		391
Net income (loss)	(65,000,000)				(69,000,000)	(69,000,000)	4,000,000
Other comprehensive income (loss), net	(48,000,000)			(48,000,000)		(48,000,000)
Cash dividends, per common share	0
Stock-based compensation	19,000,000		19,000,000			19,000,000
Other	(6,000,000)						(6,000,000)
Ending Balance at Sep. 30, 2021	5,078,000,000	$ 4,000,000	8,637,000,000	(1,545,000,000)	(2,086,000,000)	5,010,000,000	68,000,000
Ending Balance, Shares at Sep. 30, 2021		391
Beginning Balance at Dec. 31, 2021	5,064,000,000	$ 4,000,000	8,685,000,000	(1,546,000,000)	(2,146,000,000)	4,997,000,000	67,000,000
Beginning Balance, Shares at Dec. 31, 2021		393
Net income (loss)	(49,000,000)				(50,000,000)	(50,000,000)	1,000,000
Other comprehensive income (loss), net	14,000,000			14,000,000		14,000,000
Cash dividends, per common share	(20,000,000)				(20,000,000)	(20,000,000)
Stock-based compensation	17,000,000		17,000,000			17,000,000
Withholding taxes	(12,000,000)		(12,000,000)			(12,000,000)
Other	(4,000,000)						(4,000,000)
Ending Balance at Mar. 31, 2022	5,010,000,000	$ 4,000,000	8,690,000,000	(1,532,000,000)	(2,216,000,000)	4,946,000,000	64,000,000
Ending Balance, Shares at Mar. 31, 2022		393
Beginning Balance at Dec. 31, 2021	5,064,000,000	$ 4,000,000	8,685,000,000	(1,546,000,000)	(2,146,000,000)	4,997,000,000	67,000,000
Beginning Balance, Shares at Dec. 31, 2021		393
Net income (loss)	56,000,000
Cash dividends, per common share	(59,000,000)
Ending Balance at Sep. 30, 2022	4,930,000,000	$ 4,000,000	8,718,000,000	(1,700,000,000)	(2,154,000,000)	4,868,000,000	62,000,000
Ending Balance, Shares at Sep. 30, 2022		393
Beginning Balance at Mar. 31, 2022	5,010,000,000	$ 4,000,000	8,690,000,000	(1,532,000,000)	(2,216,000,000)	4,946,000,000	64,000,000
Beginning Balance, Shares at Mar. 31, 2022		393
Net income (loss)	70,000,000				69,000,000	69,000,000	1,000,000
Other comprehensive income (loss), net	(97,000,000)			(97,000,000)		(97,000,000)
Cash dividends, per common share	(19,000,000)				(19,000,000)	(19,000,000)
Stock-based compensation	16,000,000		16,000,000			16,000,000
Other	(8,000,000)		(6,000,000)			(6,000,000)	(2,000,000)
Ending Balance at Jun. 30, 2022	4,972,000,000	$ 4,000,000	8,700,000,000	(1,629,000,000)	(2,166,000,000)	4,909,000,000	63,000,000
Ending Balance, Shares at Jun. 30, 2022		393
Net income (loss)	35,000,000				32,000,000	32,000,000	3,000,000
Other comprehensive income (loss), net	(71,000,000)			(71,000,000)		(71,000,000)
Cash dividends, per common share	(20,000,000)				(20,000,000)	(20,000,000)
Stock-based compensation	17,000,000		17,000,000			17,000,000
Other	(3,000,000)		1,000,000			1,000,000	(4,000,000)
Ending Balance at Sep. 30, 2022	$ 4,930,000,000	$ 4,000,000	$ 8,718,000,000	$ (1,700,000,000)	$ (2,154,000,000)	$ 4,868,000,000	$ 62,000,000
Ending Balance, Shares at Sep. 30, 2022		393

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=124507222&loc=d3e1436-108581

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

- Definition

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

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21914-107793

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4568740-111683

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 5
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21711-107793

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 25: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4568447-111683

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

+ Details

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Retained Earnings (Deficit) [Member]
Cash dividends, per common share	$ 0.05	$ 0.05	$ 0.05

Basis of Presentation

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying unaudited consolidated financial statements of NOV Inc. (“NOV” or the “Company”) present information in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information and the instructions to Form 10-Q and applicable rules of Regulation S-X. They do not include all information or footnotes required by GAAP in the United States for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements included in the Company’s 2021 Annual Report on Form 10-K. Certain reclassifications have been made to prior period financial information in order to conform with current period presentation.

In our opinion, the consolidated financial statements include all adjustments, which are of a normal recurring nature unless otherwise disclosed, necessary for a fair presentation of the results for the interim periods. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year.

The preparation of financial statements in conformity with GAAP 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. Actual results could differ from those estimates.

The fair values of cash and cash equivalents, receivables and payables were approximately the same as their presented carrying values because of the short maturities of these instruments. The fair value of long-term debt is provided in Note 9, and the fair values of derivative financial instruments are provided in Note 12.

Inventories, net

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventories, net

Inventories consist of (in millions):


	September 30,			December 31,
	2022			2021
Raw materials and supplies	$	468		$	350
Work in process		296			218
Finished goods and purchased products		1,388			1,207
		2,152			1,775
Less: Inventory reserve		(397	)		(444	)
Total	$	1,755		$	1,331

Accrued Liabilities

9 Months Ended

Sep. 30, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of (in millions):


	September 30,		December 31,
	2022		2021
Compensation	$	249	$	209
Taxes (non-income)		102		119
Vendor costs		151		124
Warranties		67		73
Insurance		44		45
Interest		22		6
Commissions		19		17
Fair value of derivatives		53		8
Other		197		177
Total	$	904	$	778

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

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


				Derivative			Employee
	Currency			Financial			Benefit
	Translation			Instruments,			Plans,
	Adjustments			Net of Tax			Net of Tax			Total
Balance at December 31, 2021	$	(1,515	)	$	7		$	(38	)	$	(1,546	)
Accumulated other comprehensive income (loss) before reclassifications		(88	)		(34	)		(31	)		(153	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			—			(1	)		(1	)
Balance at September 30, 2022	$	(1,603	)	$	(27	)	$	(70	)	$	(1,700	)

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


	Three Months Ended September 30,
	2022									2021
	Derivative			Defined						Derivative			Defined
	Financial			Benefit						Financial			Benefit
	Instruments			Plans			Total			Instruments			Plans		Total
Revenue	$	1		$	—		$	1		$	—		$	—	$	—
Cost of revenue		6			—			6			(3	)		—		(3	)
Selling, general, and administrative		—			(1	)		(1	)		—			—		—
Tax effect		(1	)		—			(1	)		1			—		1
	$	6		$	(1	)	$	5		$	(2	)	$	—	$	(2	)


	Nine Months Ended September 30,
	2022									2021
	Derivative			Defined						Derivative			Defined
	Financial			Benefit						Financial			Benefit
	Instruments			Plans			Total			Instruments			Plans		Total
Revenue	$	2		$	—		$	2		$	(1	)	$	—	$	(1	)
Cost of revenue		(2	)		—			(2	)		(6	)		—		(6	)
Selling, general, and administrative		—			(1	)		(1	)		—			—		—
Tax effect		—			—			—			2			—		2
	$	—		$	(1	)	$	(1	)	$	(5	)	$	—	$	(5	)

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 (loss).

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 are realized. The movement in other comprehensive income (loss) from period to period will be the combination of: 1) changes in fair value of open derivatives of ($19) million and ($34) million during the three and nine months ended September 30, 2022; and, 2) the outflow of other comprehensive income (loss) related to cumulative changes in the fair value of derivatives that have settled in the current period were ($6) million during the three months ended September 30, 2022, and zero during the nine months ended September 30, 2022.

The Company offered a new benefit plan to employees during the third quarter of 2022, resulting in the recognition of prior service cost in accumulated other comprehensive loss during the three and nine months ended September 30, 2022.

Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segments

Financial results by operating segment are as follows (in millions):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Revenue:
Wellbore Technologies	$	741		$	507		$	2,015		$	1,383
Completion & Production Solutions		681			478			1,850			1,414
Rig Technologies		511			390			1,414			1,308
Eliminations		(44	)		(34	)		(115	)		(98	)
Total revenue	$	1,889		$	1,341		$	5,164		$	4,007

Operating profit (loss):
Wellbore Technologies	$	74		$	32		$	194		$	24
Completion & Production Solutions		21			(26	)		19			(49	)
Rig Technologies		22			1			64			42
Eliminations and corporate costs		(62	)		(50	)		(175	)		(136	)
Total operating profit (loss)	$	55		$	(43	)	$	102		$	(119	)

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 include intercompany transactions conducted between the three reporting segments that are eliminated in consolidation. Intrasegment transactions are eliminated within each segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Impairment and Other Items

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Impairment and Other Items

Beginning February 2022, as a result of armed conflict in Ukraine, governments in the European Union, the United States, the United Kingdom, Switzerland, and other countries have enacted sanctions against Russia and Russian interests. Among other things, these sanctions include controls on the export, re-export, and in-country transfer in Russia of certain goods, supplies, and technologies, including some that we use in our business in Russia. They also impose restrictions on doing business with specially designated nationals, including certain state-owned Russian customers, certain financial institutions and certain individuals and restrict or prohibit new investments and business activities in Russia. As previously disclosed, in response to these sanctions, the Company ceased new investments and curtailed our activities in Russia. Further, during the third quarter of 2022, the Company sold its business in Belarus and committed to a plan to sell its businesses in Russia. The sale is subject to government approval under Russian law.

As a result of these actions, we recorded $76 million and $125 million in impairment and other charges for the three and nine months ended September 30, 2022, respectively, of which $51 million relates to accumulated foreign currency translation adjustment losses for Russia and Belarus. The impairment and other charges are reported in “Cost of revenue” ($25 million and $74 million for the three and nine months ended September 30, 2022, respectively) and “Selling, general and administrative” ($51 million for both the three and nine months ended September 30, 2022) in our Consolidated Statements of Income (Loss). Charges were $31 million and $61 million for the three and nine months ended September 30, 2022, respectively, for Wellbore Technologies, $22 million and $39 million, respectively, for Completion & Production Solutions, and $23 million and $25 million, respectively, for Rig Technologies. As of September 30, 2022, all our Russian assets and liabilities were classified as held for sale and reported in “Prepaid and Other Current Assets” and “Accrued Liabilities”, respectively, in our Consolidated Balance Sheet. We expect to complete the sale of our Russian entities within the next 12 months, subject to regulatory approval.

Total other items included in operating profit for the three months ended September 30, 2022, were $63 million (pre-tax costs of $76 million for the impairment and other charges discussed above partially offset by credits of ($13) million related to gains on sales of previously reserved inventory). Total other items included in operating profit for the nine months ended September 30, 2022, was $122 million (pre-tax charges of $125 million for the impairment and other charges discussed above, $23 million of severance, facility closure costs and restructure, partially offset by credits of ($26) million related to gains on sales of previously reserved inventory).

Cost of revenue and operating loss for the three months ending September 30, 2021, includes other items of $24 million ($24 million of restructure, severance and facility closure costs and an $8 million post-warranty product modification, partially offset by credits of $8 million related to gains on sales of previously reserved inventory and gains on the sales of fixed assets). Cost of revenue and operating loss for the nine months ending September 30, 2021, includes pre-tax charges for other items of $48 million ($67 million of restructure,

severance and facility closure costs and an $8 million post-warranty product modification, partially offset by credits of $27 million related to gains on sales of previously reserved inventory and gains on the sale of fixed assets).

Revenue

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table disaggregates the Company’s revenue by major geographic and market segment destination. In the table, North America includes the U.S. and Canada (in millions):


	Three Months Ended September 30,
	2022											2021
			Completion											Completion
	Wellbore		& Production		Rig							Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Elims.			Total		Technologies		Solutions		Technologies		Elims.			Total
North America	$	385	$	284	$	101	$	—		$	770	$	227	$	192	$	70	$	—		$	489
International		338		381		400		—			1,119		264		276		312		—			852
Eliminations		18		16		10		(44	)		—		16		10		8		(34	)		—
	$	741	$	681	$	511	$	(44	)	$	1,889	$	507	$	478	$	390	$	(34	)	$	1,341

Land	$	551	$	413	$	139	$	—		$	1,103	$	370	$	317	$	85	$	—		$	772
Offshore		172		252		362		—			786		121		151		297		—			569
Eliminations		18		16		10		(44	)		—		16		10		8		(34	)		—
	$	741	$	681	$	511	$	(44	)	$	1,889	$	507	$	478	$	390	$	(34	)	$	1,341


	Nine Months Ended September 30,
	2022											2021
			Completion											Completion
	Wellbore		& Production		Rig							Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Elims.			Total		Technologies		Solutions		Technologies		Elims.			Total
North America	$	1,037	$	733	$	309	$	—		$	2,079	$	630	$	563	$	194	$	—		$	1,387
International		933		1,080		1,072		—			3,085		708		818		1,094		—			2,620
Intercompany		45		37		33		(115	)		—		45		33		20		(98	)		—
	$	2,015	$	1,850	$	1,414	$	(115	)	$	5,164	$	1,383	$	1,414	$	1,308	$	(98	)	$	4,007

Land	$	1,503	$	1,122	$	377	$	—		$	3,002	$	994	$	911	$	289	$	—		$	2,194
Offshore		467		691		1,004		—			2,162		344		470		999		—			1,813
Intercompany		45		37		33		(115	)		—		45		33		20		(98	)		—
	$	2,015	$	1,850	$	1,414	$	(115	)	$	5,164	$	1,383	$	1,414	$	1,308	$	(98	)	$	4,007

Performance Obligations

Net revenue recognized from performance obligations satisfied in previous periods was $6 million for the three months ended September 30, 2022 primarily due to change orders.

Remaining performance obligations represent the transaction price of firm orders for all revenue streams for which work has not been performed on contracts with 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 September 30, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $4,151 million. The Company expects to recognize approximately $372 million in revenue for the remaining performance obligations in 2022 and $3,779 million in 2023 and thereafter.

Contract Assets and Liabilities

Contract assets include unbilled amounts when revenue recognized exceeds the amount billed to the customer under contracts where revenue is recognized over time. Contract liabilities consist of customer billings in excess of revenue recognized under over-time contracts, customer advance payments and deferred revenue.

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


	Contract Assets			Contract Liabilities
Balance at December 31, 2021	$	461		$	392
Provision		(1	)		—
Billings		(701	)		780
Revenue recognized		819			(738	)
Currency translation adjustments and other		13			(3	)
Balance at September 30, 2022	$	591		$	431

Allowance for Credit Losses

The Company estimates its allowance for credit losses using information about past events, current conditions and risk characteristics of each customer, and reasonable and supportable forecasts relevant to assessing risk associated with the collectability of receivables and contract assets. The Company’s customer base, mostly in the oil and gas industry, have generally similar collectability risk characteristics, although larger and state-owned customers may have lower risk than smaller independent customers. As of September 30, 2022, the allowance for credit losses totaled $70 million.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

The Company leases certain facilities and equipment to support its operations around the world. These leases generally require the Company to pay maintenance, insurance, taxes and other operating costs in addition to rent. Renewal options are common in longer term leases; however, it is rare that the Company initially intends that a lease option will be exercised due to the cyclical nature of the Company’s business. Residual value guarantees are not typically part of the Company’s leases. Occasionally, the Company sub-leases excess facility space, generally at terms similar to the source lease. The Company reviews agreements at inception to determine if they include a lease and, when they do, uses its incremental borrowing rate to determine the present value of the future lease payments as most do not include implicit interest rates.

Components of leases are as follows (in millions):


	September 30,		December 31,
	2022		2021
Current portion of lease liabilities:
Operating	$	65	$	76
Financing		20		23
Total	$	85	$	99

	September 30,		December 31,
	2022		2021
Long-term portion of lease liabilities:
Operating	$	332	$	357
Financing		214	$	219
Total	$	546	$	576

Debt

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt

Debt consists of (in millions):


	September 30,		December 31,
	2022		2021
$1.1 billion in Senior Notes, interest at 3.95% payable semiannually, principal due on December 1, 2042	$	1,090	$	1,090
$0.5 billion in Senior Notes, interest at 3.60% payable semiannually, principal due on December 1, 2029		495		494
Other debt		145		129
Total Debt		1,730		1,713
Less current portion		10		5
Long-term debt	$	1,720	$	1,708

The Company has a revolving credit facility with a borrowing capacity of $2.0 billion through October 30, 2024, and a borrowing capacity of $1.7 billion from October 31, 2024, to October 30, 2025. The Company has the right to increase the commitments under this agreement to an aggregate amount of up to $3.0 billion upon the consent of only those lenders holding any such increase. Interest under the multicurrency facility is based upon LIBOR, NIBOR or CDOR plus 1.25% subject to a ratings-based grid or the U.S. prime rate. The credit facility contains a financial covenant regarding maximum debt-to-capitalization ratio of 60%. As of September 30, 2022, the Company was in compliance with a debt-to-capitalization ratio of 28.5% and had no outstanding borrowings or letters of credit issued under the facility, resulting in $2.0 billion of available funds.

Additionally, the consolidated joint venture of the Company has a $150 million bank line of credit for the construction of a facility in Saudi Arabia. Interest under the bank line of credit is based upon LIBOR plus 1.40%. The bank line of credit contains a financial covenant regarding maximum debt-to-equity ratio of 75%. As of September 30, 2022, the joint venture was in compliance. The line of credit repayment schedule begins in December 2022 with final payment no later than June 2032. As of September 30, 2022, the Company has a carrying value of $115 million in borrowings related to this line of credit. The carrying value of debt under the Company’s consolidated joint venture approximates fair value because the interest rates are variable and reflective of current market rates. The Company has $10 million in payments related to this line of credit due in the next twelve months. The Company can repay the entire outstanding facility balance without penalty at its sole discretion. Other debt at September 30, 2022 included $30 million of funding provided by minority interest partners of NOV consolidated joint ventures.

The Company had $485 million of outstanding letters of credit at September 30, 2022, primarily in the U.S. and Norway, that are under various bilateral letter of credit facilities. Letters of credit are issued as bid bonds, advanced payment bonds and performance bonds.

At September 30, 2022 and December 31, 2021, the fair value of the Company’s unsecured Senior Notes approximated $1,158 million and $1,610 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 of similar instruments. At September 30, 2022 and December 31, 2021, the carrying value of the Company’s unsecured Senior Notes approximated $1,585 million and $1,584 million, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The effective tax rate for the three and nine months ended September 30, 2022 was 45.3% and 42.3%, respectively, compared to (8.3%) and (0.5%) for the same periods in 2021. The Company has established valuation allowances on deferred tax assets for losses and tax credits generated in 2022 and 2021. The effective tax rate for 2022 was negatively impacted by current year losses in certain jurisdictions with no tax benefit, partially offset by favorable adjustments related to changes in certain exchange rates, utilization of previously unrealized losses, and tax credits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stock-Based Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

11.

Stock-Based Compensation

The Company’s stock-based compensation plan, known as the NOV Inc. Long-Term Incentive Plan (the “NOV Plan”), was approved by shareholders on May 11, 2018 and amended and restated on May 24, 2022. The NOV 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 NOV Plan is 55.7 million. The NOV Plan is also subject to a fungible ratio concept, such that the issuance of stock options and stock appreciation rights reduces the number of available shares under the NOV Plan on a 1-for-1 basis, and the issuance of other awards reduces the number of available shares under the NOV Plan on a 1.5-for-1 basis. At September 30, 2022, approximately 17.2 million shares remained available for future grants under the NOV Plan. The Company also has outstanding awards under its other stock-based compensation plan known as the National Oilwell Varco, Inc. Long-Term Incentive Plan (the “Plan”), however the Company is no longer granting new awards under the Plan.

Total expense for all stock-based compensation arrangements was $17 million and $50 million for the three and nine months ended September 30, 2022, respectively and $19 million and $59 million for the three and nine months ended September 30, 2021, respectively.

There was no income tax benefit recognized in the Consolidated Statements of Income (Loss) for stock-based compensation arrangements under the NOV Plan for each of the three and nine months ended September 30, 2022 and 2021.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

12.

Derivative Financial Instruments

The Company uses forward currency contracts 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). The Company also executes forward currency contracts to manage the foreign currency exchange rate risk on recognized nonfunctional currency monetary accounts (non-designated hedge).

The fair values of these derivative financial instruments 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.

Forward currency contracts consist of (in millions):


	Currency Denomination
	September 30,		December 31,
Foreign Currency	2022		2021
South Korean Won	KRW	44,179	KRW	17,600
Norwegian Krone	NOK	2,767	NOK	2,430
U.S. Dollar	USD	540	USD	415
Japanese Yen	JPY	492	JPY	476
Mexican Peso	MXN	409	MXN	637
Brazilian Real	BRL	291	BRL	—
Euro	EUR	134	EUR	106
South African Rand	ZAR	115	ZAR	124
Canadian Dollar	CAD	102	CAD	—
Singapore Dollar	SGD	40	SGD	36
British Pound Sterling	GBP	14	GBP	14
Danish Krone	DKK	6	DKK	7
Russian Ruble	RUB	—	RUB	1,128

Cash Flow Hedging Strategy

To protect against the volatility of forecasted foreign currency cash flows resulting from forecasted revenues and expenses, the Company instituted a cash flow hedging program. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is recorded in accumulated 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 Company includes time value in hedge relationships.

The Company expects $24 million of the accumulated other comprehensive loss will be reclassified into earnings within the next twelve months.

Non-designated Hedging Strategy

The Company enters into forward exchange contracts to hedge certain nonfunctional currency monetary accounts. The gain or loss on the derivative instrument is recognized in earnings in other income (expense), together with the changes in the hedged nonfunctional monetary accounts.

The amount of gain (loss) recognized in other income (expense), net was ($8) million and ($22) million for the three and nine months ended September 30, 2022, respectively, and ($5) million and ($10) million for the three and nine months ended September 30, 2021, respectively.

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


	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet	September 30,		December 31,		Balance Sheet	September 30,		December 31,
	Location	2022		2021		Location	2022		2021
Derivatives designated as hedging instruments under ASC Topic 815
Foreign exchange contracts	Prepaid and other current assets	$	3	$	11	Accrued liabilities	$	28	$	2
Foreign exchange contracts	Other Assets		—		—	Other liabilities		5		—
Total derivatives designated as hedging instruments under ASC Topic 815		$	3	$	11		$	33	$	2
Derivatives not designated as hedging instruments under ASC Topic 815
Foreign exchange contracts	Prepaid and other current assets	$	16	$	7	Accrued liabilities	$	25	$	6
Total derivatives		$	19	$	18		$	58	$	8

Net Income (Loss) Attributable to Company Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Attributable to Company Per Share

13.

Net Income (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):


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2022		2021			2022		2021
Numerator:
Net income (loss) attributable to Company	$	32	$	(69	)	$	51	$	(210	)
Denominator:
Basic—weighted average common shares outstanding		391		387			389		386
Dilutive effect of employee stock options and other unvested stock awards		2		—			4		—
Diluted outstanding shares		393		387			393		386

Net income (loss) attributable to Company per share:
Basic	$	0.08	$	(0.18	)	$	0.13	$	(0.54	)
Diluted	$	0.08	$	(0.18	)	$	0.13	$	(0.54	)

Cash dividends per share	$	0.05	$	—		$	0.15	$	—

Companies with unvested participating securities are required to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents if declared. Net income (loss) attributable to the Company allocated to these participating securities was immaterial for each of the three and nine months ended September 30, 2022 and 2021, respectively.

The Company had stock options outstanding that were anti-dilutive totaling 22 million and 20 million shares for the three and nine months ended September 30, 2022, respectively, compared to 23 million and 21 million shares for the three and nine months ended September 30, 2021, respectively.

Cash Dividends	9 Months Ended
Cash Dividends	Sep. 30, 2022
Dividends [Abstract]
Cash Dividends	14. Cash Dividends Cash dividends were $20 million and $59 million for the three and nine months ended September 30, 2022 compared to no dividends paid for both the three and nine months ended September 30, 2021. 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.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15.

Commitments and Contingencies

Our business is governed by laws and regulations, including those directed to the oilfield service industry, promulgated by U.S. federal and state governments and regulatory agencies, as well as international governmental authorities in the many countries in which we conduct business. In the United States these governmental authorities include: the U.S. Department of Labor, the Occupational Safety and Health Administration, the Environmental Protection Agency, the Bureau of Land Management, the Department of Treasury, Office of Foreign Asset Controls, state environmental agencies and many others. We are unaware of any material liabilities in connection with our compliance with such laws. New laws, regulations and enforcement policies may result in additional, presently unquantifiable, or unknown, costs or liabilities.

The Company is involved in various claims, regulatory agency audits and pending or threatened legal actions involving a variety of matters. The Company maintains insurance that covers many of the claims arising from risks associated with the business activities of the Company, including claims for premises liability, product liability, personal injury 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 enough to cover any such material risks.

The Company is also a party to claims, threatened and actual litigation, private arbitration, internal investigations of potential regulatory and compliance matters which arise both from legacy businesses that the Company has acquired over many years and from the Company’s current ordinary day-to-day business activities. These regulatory matters and disputes involve private parties and/or government authorities, which assert claims against the Company for a broad spectrum of potential claims, including employment law claims, collective actions or class action claims under employment laws, intellectual property claims (such as alleged patent infringement, and/or misappropriation of trade secrets by the company), premises liability claims, environmental claims, product liability claims, warranty claims, personal injury claims arising from exposure to or use of allegedly defective products, alleged regulatory violations, alleged violations of anti-corruption and anti-bribery laws and other commercial and/or regulatory claims seeking recovery for alleged actual or exemplary damages or fines and penalties. Such claims involve various theories of liability which include negligence, strict liability, product liability, and other theories of liability. For some of these 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 claims, individually or collectively, could have a material financial or reputational impact on the Company. As of September 30, 2022, the Company recorded reserves in an amount believed to be sufficient, given the range of potential outcomes, for contingent liabilities representing all contingencies believed to be probable. These reserves include all costs expected for reclamation of a closed barite mine and product liability claims, as well as other circumstances involving material claims.

Risks and Uncertainties

The Company has assessed the potential for additional losses above the amounts accrued as well as potential losses for matters that are believed to be not probable, but are reasonably possible. The Company sets accruals in accordance with GAAP based on its best judgment about the probable results of disputed claims, regulatory enforcement actions, tax and other governmental audits, and other contingencies. The litigation process as well as the outcome of regulatory oversight is inherently uncertain, and our best judgment concerning the probable outcome of litigation or regulatory enforcement matters may prove to be incorrect. No assurance can be given as to the outcome of these matters. The total potential loss on these matters cannot be determined; however, in our opinion, any ultimate liability, to the extent not otherwise provided for, 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 experience. Because of uncertainty and risk inherent to litigation, arbitration, audits, governmental investigations and enforcement actions, the Company’s actual liabilities incurred may exceed our estimated liabilities and reserves, which could have a material financial or reputational impact on the Company. Recently, the Company received and paid a $51 million transfer pricing tax assessment in Denmark. The Company and its advisors believe the assessment is without merit. The Company is presently appealing and believes it will be reimbursed following a successful appeals process. The payment has been recorded as a long-term receivable.

In many instances, the Company’s products and services embody or incorporate trade secrets or patented inventions. From time to time, we are engaged in disputes concerning protection of the Company’s trade secrets and confidential information, patents, and other intellectual property rights. Such disputes frequently involve complex, factual, technical and/or legal issues which result in high costs to adjudicate our rights and for which it may be difficult to predict the ultimate outcome. At any given time, the Company may be a plaintiff or defendant in disputes involving disputed intellectual property rights. The Company is currently pursuing, and intends to pursue future claims involving revenue recognized for technology related to drill bits. The amount of the Company's claims for outstanding receivables exceed $25 million dollars, and are likely to increase over time until we achieve resolution of such claims. Because of the importance of the Company’s intellectual property to the Company’s performance, an adverse result in such disputes could result in a material loss of revenue from royalties or a decline in sales of products protected by patents, which could materially and adversely impact our financial performance.

Further, in some instances, direct or indirect consumers of our products and services or members of the supply chain for our products and services 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, from time to time, become involved in these investigations, at substantial cost to the Company. We also are subject to trade regulations, supply chain regulations, and other regulatory compliance in which the laws and regulations of different jurisdictions conflict or these regulations may conflict with contractual terms. In such circumstances, our compliance with U.S. laws and regulations may subject us to risk of fines, penalties, or contractual liability in other jurisdictions. Our efforts to actively manage such risks may not always be successful which could lead to negative impacts on revenue or earnings.

The Company is exposed to customs and trade regulation risk in the countries in which we do business and countries from which or to which we import or export goods. Such trade regulations can be complex and conflicting, as different countries use trade regulation to promote conflicting policy objectives. Compliance with these laws and regulations present challenges which could result in future liabilities (for example, when laws conflict between countries). The Company may face increased tariffs and trade costs, loss of revenue, loss of customers, increased costs, the need for renegotiation of agreements, and other business disruptions. In addition, trade regulations, export controls, and other laws adversely impact our ability to do business in certain countries, e.g., Iran, Syria, Russia, China and Venezuela. In response to additional sanctions enacted by governments in the European Union, the United States, the United Kingdom, Switzerland, and other countries as a result of active armed conflict in Ukraine, we ceased new investments in Russia and have curtailed our activities in Russia. During the third quarter of 2022, we sold our business in Belarus committed to a plan to sell our business in Russia. The sale is subject to government approval under Russian law. Litigation may result from the confluence of these events in Russia and Belarus and our response to the various sanctions as we work to comply with applicable laws and regulations. We also may incur severance costs as a result of conditions in Russia if we are unable to obtain government approval.

Uncertainty arising from the COVID-19 pandemic continues to adversely impact many jurisdictions and disrupt normal economic activities. For example, lockdowns in China have disrupted supply chains for the Company’s vendors and products. The Company’s ability to manufacture equipment and perform services could also be impaired and the Company could be exposed to liabilities resulting from additional interruption or delay in its ability to perform due to limited manpower, travel restrictions, difficulty obtaining visas, adverse health consequences to employees, supply chain disruption, inflationary pressures, and materials shortages. The Company continues to see operational delays due to supply chain disruption and closure or limitations imposed on our facilities and work force regulations. We also face sometimes conflicting regulatory and legal regulations, for example, vaccine mandates and prohibitions of vaccine mandates. We may face loss of workers, labor shortages, litigation, fines and/or other adverse consequences resulting from vaccine mandates and enforcement of other COVID-19 regulations.

Disputes may arise regarding application of force majeure contract provisions and allocation of responsibility among customers, the Company, and suppliers, resulting in material added cost and/or litigation. Our customers may attempt to cancel or delay projects, cancel contracts, or may invoke force majeure clauses. Our customers may also seek to delay or may default on their payments to us. As a result, the Company may be exposed to additional costs, liabilities and risks which could materially, adversely impact our financial performance and results. These potential operational and service delays resulting from the COVID-19 pandemic could result in contractual or other legal claims from our customers. At this time, it is not possible to quantify all these risks, but the combination of these factors could have a material impact on our financial results.

Due to market conditions and ongoing concerns about the energy transition, demand for our products and services may decline. Legal restrictions on exploration and production may impede our customer’s ability to do business in certain jurisdictions. The political environment may adversely impact demand for hydrocarbons in different jurisdictions or worldwide. The demand for energy may be constrained with adverse consequences for our customers and for the company.

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	16. New Accounting Pronouncements Recently Issued Accounting Standards In March 2020, the FASB issued ASU 2021-01 and 2020-04, “Reference Rate Reform (Topic 848).” This ASU applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. Management is currently assessing the impact of adopting ASU 2020-04 on the company’s financial position, results of operations and cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL122150809-237846

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

+ Details

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Fair Value of Financial Instruments	The fair values of cash and cash equivalents, receivables and payables were approximately the same as their presented carrying values because of the short maturities of these instruments. The fair value of long-term debt is provided in Note 9, and the fair values of derivative financial instruments are provided in Note 12.
Net Income (Loss) Attributable to Company Per Share	Companies with unvested participating securities are required to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents if declared. Net income (loss) attributable to the Company allocated to these participating securities was immaterial for each of the three and nine months ended September 30, 2022 and 2021, respectively.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the FASB issued ASU 2021-01 and 2020-04, “Reference Rate Reform (Topic 848).” This ASU applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. Management is currently assessing the impact of adopting ASU 2020-04 on the company’s financial position, results of operations and cash flows.

Inventories, net (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories consist of (in millions):


	September 30,			December 31,
	2022			2021
Raw materials and supplies	$	468		$	350
Work in process		296			218
Finished goods and purchased products		1,388			1,207
		2,152			1,775
Less: Inventory reserve		(397	)		(444	)
Total	$	1,755		$	1,331

Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of (in millions):


	September 30,		December 31,
	2022		2021
Compensation	$	249	$	209
Taxes (non-income)		102		119
Vendor costs		151		124
Warranties		67		73
Insurance		44		45
Interest		22		6
Commissions		19		17
Fair value of derivatives		53		8
Other		197		177
Total	$	904	$	778

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

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


				Derivative			Employee
	Currency			Financial			Benefit
	Translation			Instruments,			Plans,
	Adjustments			Net of Tax			Net of Tax			Total
Balance at December 31, 2021	$	(1,515	)	$	7		$	(38	)	$	(1,546	)
Accumulated other comprehensive income (loss) before reclassifications		(88	)		(34	)		(31	)		(153	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			—			(1	)		(1	)
Balance at September 30, 2022	$	(1,603	)	$	(27	)	$	(70	)	$	(1,700	)

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):


	Three Months Ended September 30,
	2022									2021
	Derivative			Defined						Derivative			Defined
	Financial			Benefit						Financial			Benefit
	Instruments			Plans			Total			Instruments			Plans		Total
Revenue	$	1		$	—		$	1		$	—		$	—	$	—
Cost of revenue		6			—			6			(3	)		—		(3	)
Selling, general, and administrative		—			(1	)		(1	)		—			—		—
Tax effect		(1	)		—			(1	)		1			—		1
	$	6		$	(1	)	$	5		$	(2	)	$	—	$	(2	)


	Nine Months Ended September 30,
	2022									2021
	Derivative			Defined						Derivative			Defined
	Financial			Benefit						Financial			Benefit
	Instruments			Plans			Total			Instruments			Plans		Total
Revenue	$	2		$	—		$	2		$	(1	)	$	—	$	(1	)
Cost of revenue		(2	)		—			(2	)		(6	)		—		(6	)
Selling, general, and administrative		—			(1	)		(1	)		—			—		—
Tax effect		—			—			—			2			—		2
	$	—		$	(1	)	$	(1	)	$	(5	)	$	—	$	(5	)

Segments (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Operating Segments

Financial results by operating segment are as follows (in millions):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Revenue:
Wellbore Technologies	$	741		$	507		$	2,015		$	1,383
Completion & Production Solutions		681			478			1,850			1,414
Rig Technologies		511			390			1,414			1,308
Eliminations		(44	)		(34	)		(115	)		(98	)
Total revenue	$	1,889		$	1,341		$	5,164		$	4,007

Operating profit (loss):
Wellbore Technologies	$	74		$	32		$	194		$	24
Completion & Production Solutions		21			(26	)		19			(49	)
Rig Technologies		22			1			64			42
Eliminations and corporate costs		(62	)		(50	)		(175	)		(136	)
Total operating profit (loss)	$	55		$	(43	)	$	102		$	(119	)

Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Summary of Disaggregate Revenue by Destinations

The following table disaggregates the Company’s revenue by major geographic and market segment destination. In the table, North America includes the U.S. and Canada (in millions):


	Three Months Ended September 30,
	2022											2021
			Completion											Completion
	Wellbore		& Production		Rig							Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Elims.			Total		Technologies		Solutions		Technologies		Elims.			Total
North America	$	385	$	284	$	101	$	—		$	770	$	227	$	192	$	70	$	—		$	489
International		338		381		400		—			1,119		264		276		312		—			852
Eliminations		18		16		10		(44	)		—		16		10		8		(34	)		—
	$	741	$	681	$	511	$	(44	)	$	1,889	$	507	$	478	$	390	$	(34	)	$	1,341

Land	$	551	$	413	$	139	$	—		$	1,103	$	370	$	317	$	85	$	—		$	772
Offshore		172		252		362		—			786		121		151		297		—			569
Eliminations		18		16		10		(44	)		—		16		10		8		(34	)		—
	$	741	$	681	$	511	$	(44	)	$	1,889	$	507	$	478	$	390	$	(34	)	$	1,341


	Nine Months Ended September 30,
	2022											2021
			Completion											Completion
	Wellbore		& Production		Rig							Wellbore		& Production		Rig
	Technologies		Solutions		Technologies		Elims.			Total		Technologies		Solutions		Technologies		Elims.			Total
North America	$	1,037	$	733	$	309	$	—		$	2,079	$	630	$	563	$	194	$	—		$	1,387
International		933		1,080		1,072		—			3,085		708		818		1,094		—			2,620
Intercompany		45		37		33		(115	)		—		45		33		20		(98	)		—
	$	2,015	$	1,850	$	1,414	$	(115	)	$	5,164	$	1,383	$	1,414	$	1,308	$	(98	)	$	4,007

Land	$	1,503	$	1,122	$	377	$	—		$	3,002	$	994	$	911	$	289	$	—		$	2,194
Offshore		467		691		1,004		—			2,162		344		470		999		—			1,813
Intercompany		45		37		33		(115	)		—		45		33		20		(98	)		—
	$	2,015	$	1,850	$	1,414	$	(115	)	$	5,164	$	1,383	$	1,414	$	1,308	$	(98	)	$	4,007

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			Contract Liabilities
Balance at December 31, 2021	$	461		$	392
Provision		(1	)		—
Billings		(701	)		780
Revenue recognized		819			(738	)
Currency translation adjustments and other		13			(3	)
Balance at September 30, 2022	$	591		$	431

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Components of Leases

Components of leases are as follows (in millions):


	September 30,		December 31,
	2022		2021
Current portion of lease liabilities:
Operating	$	65	$	76
Financing		20		23
Total	$	85	$	99

	September 30,		December 31,
	2022		2021
Long-term portion of lease liabilities:
Operating	$	332	$	357
Financing		214	$	219
Total	$	546	$	576

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt

Debt consists of (in millions):


	September 30,		December 31,
	2022		2021
$1.1 billion in Senior Notes, interest at 3.95% payable semiannually, principal due on December 1, 2042	$	1,090	$	1,090
$0.5 billion in Senior Notes, interest at 3.60% payable semiannually, principal due on December 1, 2029		495		494
Other debt		145		129
Total Debt		1,730		1,713
Less current portion		10		5
Long-term debt	$	1,720	$	1,708

- 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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Currency Forward Contracts

Forward currency contracts consist of (in millions):


	Currency Denomination
	September 30,		December 31,
Foreign Currency	2022		2021
South Korean Won	KRW	44,179	KRW	17,600
Norwegian Krone	NOK	2,767	NOK	2,430
U.S. Dollar	USD	540	USD	415
Japanese Yen	JPY	492	JPY	476
Mexican Peso	MXN	409	MXN	637
Brazilian Real	BRL	291	BRL	—
Euro	EUR	134	EUR	106
South African Rand	ZAR	115	ZAR	124
Canadian Dollar	CAD	102	CAD	—
Singapore Dollar	SGD	40	SGD	36
British Pound Sterling	GBP	14	GBP	14
Danish Krone	DKK	6	DKK	7
Russian Ruble	RUB	—	RUB	1,128

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):


	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet	September 30,		December 31,		Balance Sheet	September 30,		December 31,
	Location	2022		2021		Location	2022		2021
Derivatives designated as hedging instruments under ASC Topic 815
Foreign exchange contracts	Prepaid and other current assets	$	3	$	11	Accrued liabilities	$	28	$	2
Foreign exchange contracts	Other Assets		—		—	Other liabilities		5		—
Total derivatives designated as hedging instruments under ASC Topic 815		$	3	$	11		$	33	$	2
Derivatives not designated as hedging instruments under ASC Topic 815
Foreign exchange contracts	Prepaid and other current assets	$	16	$	7	Accrued liabilities	$	25	$	6
Total derivatives		$	19	$	18		$	58	$	8

Net Income (Loss) Attributable to Company Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

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):


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2022		2021			2022		2021
Numerator:
Net income (loss) attributable to Company	$	32	$	(69	)	$	51	$	(210	)
Denominator:
Basic—weighted average common shares outstanding		391		387			389		386
Dilutive effect of employee stock options and other unvested stock awards		2		—			4		—
Diluted outstanding shares		393		387			393		386

Net income (loss) attributable to Company per share:
Basic	$	0.08	$	(0.18	)	$	0.13	$	(0.54	)
Diluted	$	0.08	$	(0.18	)	$	0.13	$	(0.54	)

Cash dividends per share	$	0.05	$	—		$	0.15	$	—

Inventories, net - Inventories (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 468	$ 350
Work in process	296	218
Finished goods and purchased products	1,388	1,207
Inventory, Gross	2,152	1,775
Less: Inventory reserve	(397)	(444)
Total	$ 1,755	$ 1,331

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Compensation	$ 249	$ 209
Taxes (non-income)	102	119
Vendor costs	151	124
Warranties	67	73
Insurance	44	45
Interest	22	6
Commissions	19	17
Fair value of derivatives	53	8
Other	197	177
Total	$ 904	$ 778

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 5,064
Ending Balance	4,930
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,515)
Accumulated other comprehensive income (loss) before reclassifications	(88)
Ending Balance	(1,603)
Derivative Financial Instruments, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	7
Accumulated other comprehensive income (loss) before reclassifications	(34)
Ending Balance	(27)
Employee Benefit Plans, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(38)
Accumulated other comprehensive income (loss) before reclassifications	(31)
Amounts reclassified from accumulated other comprehensive income (loss)	(1)
Ending Balance	(70)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,546)
Accumulated other comprehensive income (loss) before reclassifications	(153)
Amounts reclassified from accumulated other comprehensive income (loss)	(1)
Ending Balance	$ (1,700)

- Definition

+ References

+ Details

Accumulated Other Comprehensive Income (Loss) - Components of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	$ 1,889	$ 1,341	$ 5,164	$ 4,007
Selling, general and administrative	313	228	789	691
Tax effect	(29)	(5)	(41)	(1)
Net income (loss) attributable to Company	32	(69)	51	(210)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	1		2	(1)
Cost of revenue	6	(3)	(2)	(6)
Selling, general and administrative	(1)		(1)
Tax effect	(1)	1		2
Net income (loss) attributable to Company	5	(2)	(1)	(5)
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	1		2	(1)
Cost of revenue	6	(3)	(2)	(6)
Tax effect	(1)	1		2
Net income (loss) attributable to Company	6	$ (2)		$ (5)
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)
Net income (loss) attributable to Company	$ (1)		$ (1)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Changes in fair value of open derivatives	$ (19)	$ (34)
Cumulative changes in the fair value of derivatives	$ (6)	$ 0

Segments - Operating Segments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 1,889	$ 1,341	$ 5,164	$ 4,007
Total operating profit (loss)	55	(43)	102	(119)
Operating Segments [Member] \| Wellbore Technologies [Member]
Segment Reporting Information [Line Items]
Total revenue	741	507	2,015	1,383
Total operating profit (loss)	74	32	194	24
Operating Segments [Member] \| Completion & Production Solutions [Member]
Segment Reporting Information [Line Items]
Total revenue	681	478	1,850	1,414
Total operating profit (loss)	21	(26)	19	(49)
Operating Segments [Member] \| Rig Technologies [Member]
Segment Reporting Information [Line Items]
Total revenue	511	390	1,414	1,308
Total operating profit (loss)	22	1	64	42
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenue	(44)	(34)	(115)	(98)
Total operating profit (loss)	$ (62)	$ (50)	$ (175)	$ (136)

- Definition

+ References

+ Details

Segments - Additional Information (Detail)	9 Months Ended
Segments - Additional Information (Detail)	Sep. 30, 2022 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	3

Impairment and Other Items - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Wellbore Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	$ 31		$ 61
Completion & Production Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	22		39
Rig Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	23		25
Cost of Revenue [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	25		74
Selling, General and Administrative [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	51		51
Russia, Belarus and Ukraine [Member]
Restructuring Cost and Reserve [Line Items]
Other asset impairment charges	76		125
Russia and Belarus [Member]
Restructuring Cost and Reserve [Line Items]
Accumulated other comprehensive income foreign currency translation loss	51		51
Impairment Restructure, Severance, Facility Closure Costs and Inventory Charges [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)	63		122
Impairment and Other Charges And Inventory Charges [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)	76		125
Severance, Facility Closure Costs and Restructure [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)			23
Gains On Sales Of Previously Reserved Inventory [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)	$ (13)		$ (26)
Severance, Facility Closures And Other Items [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		$ 24		$ 48
Restructure, Severance and Facility Closure Costs [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		24		67
Gains on Sales of Previously Reserved Inventory and Fixed Assets [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		(8)		(27)
Post-Warranty Product Modification [Member]
Restructuring Cost and Reserve [Line Items]
Charges/ (reversals)		$ 8		$ 8

Revenue - Summary of Disaggregate Revenue by Destinations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ 1,889	$ 1,341	$ 5,164	$ 4,007
Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	741	507	2,015	1,383
Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	681	478	1,850	1,414
Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	511	390	1,414	1,308
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(44)	(34)	(115)	(98)
Continental [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	18	16	45	45
Continental [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	16	10	37	33
Continental [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	10	8	33	20
Continental [Member] \| Eliminations [Member] \| Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(44)	(34)	(115)	(98)
Continental [Member] \| North America [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	770	489	2,079	1,387
Continental [Member] \| North America [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	385	227	1,037	630
Continental [Member] \| North America [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	284	192	733	563
Continental [Member] \| North America [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	101	70	309	194
Continental [Member] \| International [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,119	852	3,085	2,620
Continental [Member] \| International [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	338	264	933	708
Continental [Member] \| International [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	381	276	1,080	818
Continental [Member] \| International [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	400	312	1,072	1,094
Land and Offshore [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	18	16	45	45
Land and Offshore [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	16	10	37	33
Land and Offshore [Member] \| Eliminations [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	10	8	33	20
Land and Offshore [Member] \| Eliminations [Member] \| Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	(44)	(34)	(115)	(98)
Land and Offshore [Member] \| Land Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	1,103	772	3,002	2,194
Land and Offshore [Member] \| Land Destination [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	551	370	1,503	994
Land and Offshore [Member] \| Land Destination [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	413	317	1,122	911
Land and Offshore [Member] \| Land Destination [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	139	85	377	289
Land and Offshore [Member] \| Offshore Destination [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	786	569	2,162	1,813
Land and Offshore [Member] \| Offshore Destination [Member] \| Operating Segments [Member] \| Wellbore Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	172	121	467	344
Land and Offshore [Member] \| Offshore Destination [Member] \| Operating Segments [Member] \| Completion & Production Solutions [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	252	151	691	470
Land and Offshore [Member] \| Offshore Destination [Member] \| Operating Segments [Member] \| Rig Technologies [Member]
Disaggregation of Revenue [Line Items]
Disaggregate revenue	$ 362	$ 297	$ 1,004	$ 999

Revenue - Additional Information (Detail) $ in Millions	3 Months Ended
Revenue - Additional Information (Detail) $ in Millions	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Net revenue recognized from performance obligations satisfied in previous periods	$ 6
Remaining performance obligations	4,151
Allowance for credit losses	$ 70

Revenue - Additional Information (Detail 1) $ in Millions	Sep. 30, 2022 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 4,151
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 372,000
Remaining performance obligations, expected to be recognized, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 3,779
Remaining performance obligations, expected to be recognized, period	1 year

Revenue - Summary of Changes in Carrying Amount of Contract Assets and Contract Liabilities (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at December 31, 2021	$ 461
Provision	(1)
Billings	(701)
Revenue recognized	819
Currency translation adjustments and other	13
Balance at September 30, 2022	591
Balance at December 31, 2021	392
Billings	780
Revenue recognized	(738)
Currency translation adjustments and other	(3)
Balance at September 30, 2022	$ 431

Leases - Schedule of Components of Leases (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current portion of lease liabilities:
Operating	$ 65	$ 76
Financing	20	23
Total	85	99
Long-term portion of lease liabilities:
Operating	332	357
Financing	214	219
Total	$ 546	$ 576

Debt - Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Senior Notes	$ 1,585	$ 1,584
Other debt	145	129
Total Debt	1,730	1,713
Less current portion	10	5
Long-term debt	1,720	1,708
Senior Notes, Interest at 3.95% Payable Semiannually, Principal Due on December 1, 2042 [Member]
Debt Instrument [Line Items]
Senior Notes	1,090	1,090
Senior Notes, Interest at 3.60% Payable Semiannually, Principal Due on December 1, 2029 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 495	$ 494

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Debt - Debt (Parenthetical) (Detail) - USD ($)	9 Months Ended	12 Months Ended
Debt - Debt (Parenthetical) (Detail) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Senior Notes, Interest at 3.60% Payable Semiannually, Principal Due on December 1, 2029 [Member]
Debt Instrument [Line Items]
Senior note face amount	$ 500,000,000	$ 500,000,000
Senior notes interest rate	3.60%	3.60%
Senior note due date	Dec. 01, 2029	Dec. 01, 2029
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 - Additional Information (Detail) - USD ($)	9 Months Ended
Debt - Additional Information (Detail) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Funds available under revolving credit facility	$ 2,000,000,000.0
Interest rate under multi currency facility	LIBOR, NIBOR or CDOR plus 1.25%
Capitalization ratio, Maximum	60.00%
Capitalization ratio, Actual	28.50%
Other debt	$ 145,000,000	$ 129,000,000
Outstanding letters of credit under various bilateral letter of credit facilities	485,000,000
Carrying value of Unsecured Senior Notes	1,585,000,000	1,584,000,000
Unsecured Debt [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Fair value of Unsecured Senior Notes	1,158,000,000	$ 1,610,000,000
Noncontrolling Interests [Member]
Debt Instrument [Line Items]
Other debt	$ 30,000,000
Canadian Dollar Offered Rate (CDOR) [Member]
Debt Instrument [Line Items]
Variable rate	1.25%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility current borrowing capacity	$ 2,000,000,000.0
Funds available under revolving credit facility	1,700,000,000
Credit facility, extendable borrowing capacity	$ 3,000,000,000.0
Variable rate basis	LIBOR, NIBOR or CDOR plus
Outstanding letters of credit issued	$ 0
Foreign Line of Credit [Member]
Debt Instrument [Line Items]
Variable rate	1.40%
Additional line of credit facility borrowing capacity	$ 150,000,000
Debt to equity ratio maximum	75.00%
Carrying value of borrowings	$ 115,000,000
First payment	$ 10,000,000
Line of credit repayment schedule beginning date	2022-12
Line of credit repayment schedule ending date	2032-06

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Detail)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	45.30%	(8.30%)	42.30%	(0.50%)

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 24, 2022
2018 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 17,000,000	$ 19,000,000	$ 50,000,000	$ 59,000,000
NOV Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Authorized shares under stock based compensation					55,700,000
Remaining shares available for future grants under the Plan	17,200,000		17,200,000
Income tax benefit recognized	$ 0	$ 0	$ 0	$ 0

Derivative Financial Instruments - Outstanding Foreign Currency Forward Contracts (Detail) ₽ in Millions, € in Millions, ₩ in Millions, ¥ in Millions, £ in Millions, kr in Millions, kr in Millions, R$ in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	Sep. 30, 2022 EUR (€)	Sep. 30, 2022 JPY (¥)	Sep. 30, 2022 BRL (R$)	Sep. 30, 2022 MXN ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2022 KRW (₩)	Sep. 30, 2022 ZAR (R)	Sep. 30, 2022 SGD ($)	Sep. 30, 2022 GBP (£)	Sep. 30, 2022 DKK (kr)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 NOK (kr)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 JPY (¥)	Dec. 31, 2021 MXN ($)	Dec. 31, 2021 KRW (₩)	Dec. 31, 2021 ZAR (R)	Dec. 31, 2021 SGD ($)	Dec. 31, 2021 RUB (₽)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 DKK (kr)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 NOK (kr)
Forward Contracts [Member]
Derivative [Line Items]
Foreign currency, Cash flow hedging	€ 134	¥ 492	R$ 291	$ 409	$ 102	₩ 44,179	R 115	$ 40	£ 14	kr 6	$ 540	kr 2,767	€ 106	¥ 476	$ 637	₩ 17,600	R 124	$ 36	₽ 1,128	£ 14	kr 7	$ 415	kr 2,430

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Accumulated other comprehensive loss reclassified into earnings within the next twelve months			$ 24
Gain (loss) recognized in other income (expense), net	$ (8)	$ (5)	$ (22)	$ (10)

Derivative Financial Instruments - Derivative Instruments and their Balance Sheet Classifications (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Asset Derivatives	$ 19	$ 18
Liability Derivatives	58	8
Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	3	11
Liability Derivatives	33	2
Foreign Exchange Contracts [Member] \| Designated as Hedging Instruments [Member] \| Accrued liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	28	2
Foreign Exchange Contracts [Member] \| Not Designated as Hedging Instruments [Member] \| Accrued liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	25	6
Foreign Exchange Contracts [Member] \| Prepaid and Other Current Assets [Member] \| Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	3	11
Foreign Exchange Contracts [Member] \| Prepaid and Other Current Assets [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives	16	$ 7
Foreign Exchange Contracts [Member] \| Other Liabilities [Member] \| Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives	$ 5

Net Income (Loss) Attributable to Company Per Share - Computation of Weighted Average Basic and Diluted Shares Outstanding (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income (loss) attributable to Company	$ 32	$ (69)	$ 51	$ (210)
Denominator:
Basic—weighted average common shares outstanding	391	387	389	386
Dilutive effect of employee stock options and other unvested stock awards	2		4
Diluted outstanding shares	393	387	393	386
Basic	$ 0.08	$ (0.18)	$ 0.13	$ (0.54)
Diluted	0.08	$ (0.18)	0.13	$ (0.54)
Cash dividends per share	$ 0.05		$ 0.15

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

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

+ References

+ Details

Net Income (Loss) Attributable to Company Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive stock options outstanding	22	23	20	21

Cash Dividends - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Dividends [Abstract]
Cash dividends paid	$ 20,000,000	$ 19,000,000	$ 20,000,000	$ 0	$ 59,000,000	$ 0

Commitments and Contingencies - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 USD ($)
Minimum [Member]
Other Commitments [Line Items]
Amount of claims outstanding receivables	$ 25,000,000
Denmark [Member]
Other Commitments [Line Items]
Received and paid of transfer pricing tax assessment	$ 51,000,000