Full-Year 2012 Results
Product Groups
(Stated in millions)
2012
2011
Revenue
Income
before
taxes
Revenue
Income
before
taxes
Oilfield Services
Reservoir Characterization
$11,424 $3,212
$ 9,929 $2,449
Drilling
(1)
15,971 2,824
13,860 2,254
Production
(1)
14,875 2,371
13,136 2,637
Eliminations & other
(121)
(60)
34
(35)
42,149 8,347
36,959 7,305
Corporate & other
(2)
– (694)
–
(590)
Interest income
(3)
–
30
–
37
Interest expense
(4)
– (331)
–
(290)
Charges & credits
(5)
– (161)
–
(223)
$42,149 $7,191
$36,959 $6,239
Geographic Areas
(Stated in millions)
2012
2011
Revenue
Income
before
taxes Revenue
Income
before
taxes
Oilfield Services
North America
$13,485 $2,736
$12,323 $3,052
Latin America
7,554 1,387
6,467 1,074
Europe/CIS/Africa
11,443 2,245
9,676 1,477
Middle East & Asia
9,194 2,152
8,102 1,874
Eliminations & other
473 (173)
391
(172)
42,149 8,347
36,959 7,305
Corporate & other
(2)
– (694)
–
(590)
Interest income
(3)
–
30
–
37
Interest expense
(4)
– (331)
–
(290)
Charges & credits
(5)
– (161)
–
(223)
$42,149 $7,191
$36,959 $6,239
(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 (2012 – $- million; 2011 – $3 million).
(4)
Excludes interest expense included in the segments’ income (2012 – $8 million; 2011 – $8 million).
(5)
Charges and credits are described in detail in Note 3 to the
Consolidated Financial Statements
.
Oilfield Services
Full-year 2012 revenue of $42.15 billion increased 14% versus the same period last year with North America Area 9%
higher and international activity 16% higher. Internationally, higher exploration and development activities in a
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