Full-Year 2011 Results
Product Groups
(Stated in millions)
2011
2010
Revenue
Income
before
taxes
Revenue
Income
before
taxes
Oilfield Services
Reservoir Characterization
$ 9,929 $2,449
$ 9,321 $2,321
Drilling
(1)
13,860 2,254
7,917 1,313
Production
(1)
13,136 2,637
9,366 1,389
Eliminations & other
34
(35)
68
48
36,959 7,305
26,672 5,071
Corporate & other
(2)
– (590)
– (405)
Interest income
(3)
–
37
–
43
Interest expense
(4)
– (290)
– (202)
Charges & credits
(5)
– (223)
–
625
$36,959 $6,239
$26,672 $5,132
Geographic Areas
(Stated in millions)
2011
2010
Revenue
Income
before
taxes
Revenue
Income
before
taxes
Oilfield Services
North America
$12,323 $3,052
$ 6,730 $1,145
Latin America
6,467 1,074
4,985
807
Europe/CIS/Africa
9,676 1,477
7,850 1,449
Middle East & Asia
8,102 1,874
6,652 1,762
Eliminations & other
391 (172)
455
(92)
36,959 7,305
26,672 5,071
Corporate & other
(2)
– (590)
– (405)
Interest income
(3)
–
37
–
43
Interest expense
(4)
– (290)
– (202)
Charges & credits
(5)
– (223)
–
625
$36,959 $6,239
$26,672 $5,132
(1)
Effective January 1, 2012, a component of the Drilling Group was reallocated to the Production Group. Historical information has been
reclassified to conform to this presentation.
(2)
Comprised principally of corporate expenses not allocated to the segments, interest on postretirement medical benefits, stock-based
compensation costs, amortization expense associated with intangible assets recorded as a result of the acquisition of Smith and certain other
nonoperating items.
(3)
Excludes interest income included in the segments’ income (2011—$3 million; 2010—$7 million).
(4)
Excludes interest expense included in the segments’ income (2011—$8 million; 2010—$5 million).
(5)
Charges and credits are described in detail in Note 3 to the
Consolidated Financial Statements
.
21
