View Filing Data

20,620

15,887

23,633

Operating costs and expenses:

Cost of services

14,213

11,253

16,014

Cost of sales

4,142

3,770

5,099

4,057

308

General and administrative

^[1]

647

3,357

2,177

256

228

200

Total operating costs and expenses

19,258

22,665

23,798

Operating income (loss)

1,362

(6,778)

(165)

Interest expense, net of interest income of $112, $59 and $16

(593)

(639)

(447)

Other, net

(87)

(208)

(324)

Income (loss) from continuing operations before income taxes

682

(7,625)

(936)

Income tax benefit (provision)

(1,131)

1,858

274

Loss from continuing operations

(449)

(5,767)

(662)

Loss from discontinued operations, net

(19)

(2)

(5)

Net loss

(468)

(5,769)

(667)

Net (income) loss attributable to noncontrolling interest

(4)

Net loss attributable to company

(463)

(5,763)

(671)

Amounts attributable to company shareholders:

Loss from continuing operations

(444)

(5,761)

(666)

Loss from discontinued operations, net

(19)

(2)

(5)

Net loss attributable to company

$ (463)

$ (5,763)

$ (671)

Basic and diluted loss per share attributable to company shareholders:

Loss from continuing operations (in dollars per share)

$ (0.51)

$ (6.69)

$ (0.78)

Loss from discontinued operations, net (in dollars per share)

(0.02)

0.00

(0.01)

Net loss per share (in dollars per share)

$ (0.53)

$ (6.69)

$ (0.79)

Basic and diluted weighted average common shares outstanding (in shares)

870

861

853

[1]

Impairments and other charges are as follows:-For the year ended December 31, 2017, the aggregate charge of $647 million represents a fair market value adjustment on our existing promissory note with our primary customer in Venezuela and a full reserve against our other accounts receivable with this customer. -For the year ended December 31, 2016, includes $2.1 billion attributable to Completion and Production, $1.2 billion attributable to Drilling and Evaluation and $10 million attributable to Corporate and other. -For the year ended December 31, 2015, includes $1.1 billion attributable to Completion and Production, $1.0 billion attributable to Drilling and Evaluation and $88 million attributable to Corporate and other.

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest income	$ 112	$ 59	$ 16

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net loss	$ (468)	$ (5,769)	$ (667)
Other comprehensive income (loss), net of income taxes:
Defined benefit and other postretirement plans adjustments	(22)	(92)	105
Unrealized loss on cash flow hedges	0	0	(67)
Other	7	1	(2)
Other comprehensive income (loss), net of income taxes	(15)	(91)	36
Comprehensive loss	(483)	(5,860)	(631)
Comprehensive (income) loss attributable to noncontrolling interest	5	6	(4)
Comprehensive loss attributable to company shareholders	$ (478)	$ (5,854)	$ (635)

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and equivalents	$ 2,337	$ 4,009
Receivables (net of allowances for bad debts of $725 and $175)	5,036	3,922
Inventories	2,396	2,275
Prepaid income taxes	133	585
Other current assets	875	886
Total current assets	10,777	11,677
Property, plant and equipment (net of accumulated depreciation of $12,249 and $11,198)	8,521	8,532
Goodwill	2,693	2,414
Deferred income taxes	1,230	1,960
Other assets	1,864	2,417
Total assets	25,085	27,000
Current liabilities:
Accounts payable	2,554	1,764
Accrued employee compensation and benefits	746	544
Short-term borrowings and current maturities of long-term debt	512	170
Deferred revenue	257	261
Taxes other than income	231	218
Liabilities for Macondo well incident	0	369
Other current liabilities	562	697
Total current liabilities	4,862	4,023
Long-term debt	10,430	12,214
Employee compensation and benefits	609	574
Other liabilities	835	741
Total liabilities	16,736	17,552
Shareholders’ equity:
Common shares, par value $2.50 per share (authorized 2,000 shares, issued 1,069 and 1,070 shares)	2,673	2,674
Paid-in capital in excess of par value	207	201
Accumulated other comprehensive loss	(469)	(454)
Retained earnings	12,668	14,141
Treasury stock, at cost (196 and 204 shares)	(6,757)	(7,153)
Company shareholders’ equity	8,322	9,409
Noncontrolling interest in consolidated subsidiaries	27	39
Total shareholders’ equity	8,349	9,448
Total liabilities and shareholders’ equity	$ 25,085	$ 27,000

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Allowance for bad debt	$ 725	$ 175
Accumulated depreciation	$ 12,249	$ 11,198
Shareholders’ equity:
Common stock, par value (in dollars per share)	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	2,000	2,000
Common stock, shares issued (in shares)	1,069	1,070
Treasury shares (in shares)	196	204

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (468)	$ (5,769)	$ (667)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation, depletion and amortization	1,556	1,503	1,835
Deferred income tax provision (benefit), continuing operations	734	(1,501)	(224)
Impairments and other charges	647	3,357	2,177
U.S. tax refund	478	430	0
Payment related to the Macondo well incident	(368)	(33)	(333)
Cash impact of impairments and other charges - severance payments	0	(273)	(304)
Changes in assets and liabilities:
Receivables	(1,350)	899	1,468
Accounts payable	753	(219)	(603)
Inventories	(29)	552	153
Other	515	(649)	(596)
Total cash flows provided by (used in) operating activities	2,468	(1,703)	2,906
Cash flows from investing activities:
Capital expenditures	(1,373)	(798)	(2,184)
Payments to acquire businesses, net of cash acquired	(628)	(31)	(39)
Proceeds from sales of property, plant and equipment	158	222	168
Other investing activities	(84)	(103)	(137)
Total cash flows used in investing activities	(1,927)	(710)	(2,192)
Cash flows from financing activities:
Payments on long-term borrowings	(1,641)	(3,171)	(8)
Dividends to shareholders	(626)	(620)	(614)
Proceeds from issuance of common stock	158	186	167
Proceeds from issuance of long-term debt, net	10	74	7,440
Other financing activities	(62)	(9)	96
Total cash flows used in financing activities	(2,161)	(3,540)	7,081
Effect of exchange rate changes on cash	(52)	(115)	(9)
Increase (decrease) in cash and equivalents	(1,672)	(6,068)	7,786
Cash and equivalents at beginning of year	4,009	10,077	2,291
Cash and equivalents at end of year	2,337	4,009	10,077
Cash payments (receipts) during the period for:
Interest	594	659	380
Income taxes	$ (178)	$ (20)	$ 370

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Shares	Paid-in Capital in Excess of Par Value	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling interest in Consolidated Subsidiaries
Beginning balance at Dec. 31, 2014	$ (16,298)	$ (2,679)	$ (309)	$ (8,131)	$ (21,809)	$ 399	$ (31)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(667)	0	0	0	(671)	0	4
Other comprehensive income (loss)	36	0	0	0	0	36	0
Stock plans	440	2	39	481	0	0	0
Cash dividends	(614)	0	0	0	(614)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							0
Other	2	0	4	0	0	0	(2)
Ending balance at Dec. 31, 2015	(15,495)	(2,677)	(274)	(7,650)	(20,524)	363	(33)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,769)	0	0	0	(5,763)	0	(6)
Other comprehensive income (loss)	(91)	0	0	0	0	(91)	0
Stock plans	425	3	69	497	0	0	0
Cash dividends	(620)	0	0	0	(620)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							0
Other	8	0	(4)	0	0	0	12
Ending balance at Dec. 31, 2016	(9,448)	(2,674)	(201)	(7,153)	(14,141)	454	(39)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(468)	0	0	0	(463)	0	(5)
Other comprehensive income (loss)	(15)	0	0	0	0	(15)	0
Stock plans	401	1	(6)	396	0	0	0
Cash dividends	(626)	0	0	0	(626)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							0
Other	7	0	0	0	0	0	(7)
Ending balance at Dec. 31, 2017	(8,349)	(2,673)	(207)	(6,757)	(12,668)	469	(27)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained earnings adjustment for new accounting standard	$ (384)	$ 0	$ 0	$ 0	$ (384)	$ 0	$ 0

Consolidated Statements of Shareholders' Equity Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.72	$ 0.72	$ 0.72

Description of Company and Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Company and Significant Accounting Policies

Description of Company

Halliburton Company’s predecessor was established in 1919 and incorporated under the laws of the State of Delaware in 1924. We help our customers maximize value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion and optimizing production throughout the life of the asset. We serve major, national and independent oil and natural gas companies throughout the world and operate under two divisions, which form the basis for the two operating segments we report, the Completion and Production segment and the Drilling and Evaluation segment.

Use of estimates

Our financial statements are prepared in conformity with United States generally accepted accounting principles, requiring us to make estimates and assumptions that affect:


-	the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and


-	the reported amounts of revenue and expenses during the reporting period.

We believe the most significant estimates and assumptions are associated with the forecasting of our effective income tax rate and the valuation of deferred taxes, legal and environmental reserves, long-lived asset valuations, purchase price allocations and allowance for bad debts. Ultimate results could differ from our estimates.

Basis of presentation

The consolidated financial statements include the accounts of our company and all of our subsidiaries that we control or variable interest entities for which we have determined that we are the primary beneficiary. All material intercompany accounts and transactions are eliminated. Investments in companies in which we do not have a controlling interest, but over which we do exercise significant influence, are accounted for using the equity method of accounting. If we do not have significant influence, we use the cost method of accounting. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation.

Revenue recognition

Our services and products are generally sold based upon purchase orders or contracts with our customers that include fixed or determinable prices but do not include right of return provisions or other significant post-delivery obligations. Our products are produced in a standard manufacturing operation, even if produced to our customer’s specifications. We recognize revenue from product sales when title passes to the customer, the customer assumes risks and rewards of ownership, collectability is reasonably assured and delivery occurs as directed by our customer. Service revenue, including training and consulting services, is recognized when the services are rendered and collectability is reasonably assured. Rates for services are typically priced on a per day, per meter, per man-hour or similar basis. We will adopt a new revenue recognition standard effective January 1, 2018 that will supersede existing revenue recognition guidance. See Note 14 for additional information.

Research and development

Research and development costs are expensed as incurred. Research and development costs were $360 million in 2017, $329 million in 2016 and $487 million in 2015.

Cash equivalents

We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost represents invoice or production cost for new items and original cost less allowance for condition for used material returned to stock. Production cost includes material, labor and manufacturing overhead. Some domestic manufacturing and field service finished products and parts inventories for drill bits, completion products and bulk materials are recorded using the last-in, first-out method. The remaining inventory is recorded on the average cost method. We regularly review inventory quantities on hand and record provisions for excess or obsolete inventory based primarily on historical usage, estimated product demand and technological developments.

Allowance for bad debts

We establish an allowance for bad debts through a review of several factors, including historical collection experience, current aging status of the customer accounts and financial condition of our customers. Our policy is to write off bad debts when the customer accounts are determined to be uncollectible.

Property, plant and equipment

Other than those assets that have been written down to their fair values due to impairment, property, plant and equipment are reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are used for tax purposes, wherever permitted. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is recognized. Planned major maintenance costs are generally expensed as incurred. Expenditures for additions, modifications and conversions are capitalized when they increase the value or extend the useful life of the asset.

Goodwill and other intangible assets

We record as goodwill the excess purchase price over the fair value of the tangible and identifiable intangible assets acquired in a business acquisition. Changes in the carrying amount of goodwill are detailed below by reportable segment.



Millions of dollars	Completion and Production			Drilling and Evaluation			Total
Balance at December 31, 2015:	$	1,634		$	751		$	2,385
Current year acquisitions	31			—			31
Purchase price adjustments for previous acquisitions	(2		)	—			(2		)
Other	16			(16		)	—
Balance at December 31, 2016:	$	1,679		$	735		$	2,414
Current year acquisitions	249			36			285
Purchase price adjustments for previous acquisitions	(6		)	—			(6		)
Balance at December 31, 2017:	$	1,922		$	771		$	2,693

During 2017, we acquired three businesses, Summit ESP, Ingrain Inc. and Optimization Petroleum Technology, which resulted in approximately $285 million of additional goodwill based on our preliminary purchase price allocations. The reported amounts of goodwill for each reporting unit are reviewed for impairment on an annual basis, during the third quarter, and more frequently when circumstances indicate an impairment may exist. As a result of our goodwill impairment assessments performed in the years ended December 31, 2017, 2016 and 2015, we determined that the fair value of each reporting unit exceeded its net book value and, therefore, no goodwill impairments were deemed necessary. For further information on our goodwill impairment assessments, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical Accounting Estimates.”

We amortize other identifiable intangible assets with a finite life on a straight-line basis over the period which the asset is expected to contribute to our future cash flows, ranging from one to fifteen years. The components of these other intangible assets generally consist of patents, license agreements, non-compete agreements, trademarks and customer lists and contracts.

Evaluating impairment of long-lived assets

When events or changes in circumstances indicate that long-lived assets other than goodwill may be impaired, an evaluation is performed. For an asset classified as held for use, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying amount to determine if a write-down to fair value is required. When an asset is classified as held for sale, the asset’s book value is evaluated and adjusted to the lower of its carrying amount or fair value less cost to sell. In addition, depreciation and amortization is ceased while it is classified as held for sale.

Income taxes

We recognize the amount of taxes payable or refundable for the year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will not be realized.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that we will realize the benefits of these deductible differences, net of the existing valuation allowances.

We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes on continuing operations in our consolidated statements of operations.

During 2017, the President of the United States signed into law what is informally called the Tax Cuts and Jobs Act of 2017, a comprehensive U.S. tax reform package that, effective January 1, 2018, among other things, lowered the corporate income tax rate from 35% to 21% and moved the country towards a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of foreign subsidiaries. See Note 8 for further information.

Derivative instruments

At times, we enter into derivative financial transactions to hedge existing or projected exposures to changing foreign currency exchange rates and interest rates. We do not enter into derivative transactions for speculative or trading purposes. We recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value and reflected through the results of operations. If the derivative is designated as a hedge, depending on the nature of the hedge, changes in the fair value of derivatives are either offset against:


-	the change in fair value of the hedged assets, liabilities or firm commitments through earnings; or


-	recognized in other comprehensive income until the hedged item is recognized in earnings.

The ineffective portion of a derivative’s change in fair value is recognized in earnings. Recognized gains or losses on derivatives entered into to manage foreign currency exchange risk are included in “Other, net” on the consolidated statements of operations. Gains or losses on interest rate derivatives are included in “Interest expense, net.”

Foreign currency translation

Foreign entities whose functional currency is the United States dollar translate monetary assets and liabilities at year-end exchange rates, and nonmonetary items are translated at historical rates. Revenue and expense transactions are translated at the average rates in effect during the year, except for those expenses associated with nonmonetary balance sheet accounts, which are translated at historical rates. Gains or losses from remeasurement of monetary assets and liabilities due to changes in exchange rates are recognized in our consolidated statements of operations in “Other, net” in the year of occurrence.

Stock-based compensation

Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award and is recognized as expense over the employee’s service period, which is generally the vesting period of the equity grant. Additionally, compensation cost is recognized based on awards ultimately expected to vest, therefore, we have reduced the cost for estimated forfeitures based on historical forfeiture rates. Forfeitures are estimated at the time of grant and revised in subsequent periods to reflect actual forfeitures. See Note 10 and Note 14 for additional information related to stock-based compensation.

Business Segment and Geographic Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Business Segment and Geographic Information

We operate under two divisions, which form the basis for the two operating segments we report: the Completion and Production segment and the Drilling and Evaluation segment. For more information about the product service lines included in each segment, see Part I, Item 1, "Business.” Corporate and other includes certain expenses not attributable to a particular business segment such as costs related to support functions and corporate executives. Other items include amortization expense associated with intangible assets recorded as a result of our acquisitions in 2017 and merger-related costs in 2016 and 2015. The balance sheet for Corporate is primarily composed of cash and equivalents, deferred tax assets and investment securities. Intersegment revenue and revenue between geographic areas are immaterial. Our equity in earnings and losses of unconsolidated affiliates that are accounted for using the equity method of accounting are included within cost of services and cost of sales on our statements of operations, which is part of operating income of the applicable segment.

The following tables present financial information on our business segments.



Operations by business segment
	Year Ended December 31
Millions of dollars	2017			2016			2015
Revenue:
Completion and Production	$	13,077		$	8,882		$	13,682
Drilling and Evaluation	7,543			7,005			9,951
Total revenue	$	20,620		$	15,887		$	23,633

Operating income (loss):
Completion and Production	$	1,621		$	107		$	1,069
Drilling and Evaluation	718			794			1,519
Total operations	2,339			901			2,588
Corporate and other (a)	(330		)	(4,322		)	(576		)
Impairments and other charges (b)	(647		)	(3,357		)	(2,177		)
Total operating income (loss)	$	1,362		$	(6,778	)	$	(165	)
Interest expense, net of interest income	$	(593	)	$	(639	)	$	(447	)
Other, net	(87		)	(208		)	(324		)
Income (loss) from continuing operations before income taxes	$	682		$	(7,625	)	$	(936	)
Capital expenditures:
Completion and Production	$	1,111		$	500		$	1,526
Drilling and Evaluation	261			297			650
Corporate and other	1			1			8
Total	$	1,373		$	798		$	2,184
Depreciation, depletion and amortization:
Completion and Production	$	953		$	900		$	1,160
Drilling and Evaluation	563			569			638
Corporate and other	40			34			37
Total	$	1,556		$	1,503		$	1,835

(a) Includes merger-related costs for the periods presented, including a $3.5 billion termination fee and an aggregate $464 million of charges for the reversal of assets held for sale accounting during the year ended December 31, 2016.

(b) Impairments and other charges are as follows:

-For the year ended December 31, 2017, the aggregate charge of $647 million represents a fair market value adjustment on our existing promissory note with our primary customer in Venezuela and a full reserve against our other accounts receivable with this customer.

-For the year ended December 31, 2016, includes $2.1 billion attributable to Completion and Production, $1.2 billion attributable to Drilling and Evaluation and $10 million attributable to Corporate and other.

-For the year ended December 31, 2015, includes $1.1 billion attributable to Completion and Production, $1.0 billion attributable to Drilling and Evaluation and $88 million attributable to Corporate and other.



	December 31
Millions of dollars	2017		2016
Total assets:
Completion and Production	$	12,276	$	10,349
Drilling and Evaluation	7,837		8,473
Shared assets	2,913		3,371
Corporate and other	2,059		4,807
Total	$	25,085	$	27,000

Not all assets are associated with specific segments. Those assets specific to segments include receivables, inventories, certain identified property, plant and equipment (including field service equipment), equity in and advances to related companies and goodwill. The remaining assets, such as cash and equivalents, are considered to be shared among the segments.

The following tables present information by geographic area. In 2017, 2016 and 2015, based on the location of services provided and products sold, 53%, 41% and 44% of our consolidated revenue was from the United States. As of December 31, 2017 and December 31, 2016, 56% and 50% of our property, plant and equipment was located in the United States. No other country accounted for more than 10% of our revenue or property, plant and equipment during the periods presented.



Operations by geographic region
	Year Ended December 31
Millions of dollars	2017		2016		2015
Revenue:
North America	$	11,564	$	6,770	$	10,856
Latin America	2,116		1,860		3,149
Europe/Africa/CIS	2,781		2,993		4,175
Middle East/Asia	4,159		4,264		5,453
Total	$	20,620	$	15,887	$	23,633



	December 31
Millions of dollars	2017		2016
Net property, plant and equipment:
North America	$	4,922	$	4,431
Latin America	945		1,068
Europe/Africa/CIS	1,098		1,253
Middle East/Asia	1,556		1,780
Total	$	8,521	$	8,532

Receivables

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Receivables

As of December 31, 2017, 42% of our net trade receivables were from customers in the United States. As of December 31, 2016, 27% of our net trade receivables were from customers in the United States and 15% were from customers in Venezuela. Other than the United States and Venezuela, no other country or single customer accounted for more than 10% of our trade receivables at these dates.

We routinely monitor the financial stability of our customers, and employ an extensive process to evaluate the collectability of outstanding receivables. This process, which involves a high degree of judgment utilizing significant assumptions, includes analysis of our customers’ historical time to pay, financial condition and various financial metrics, debt structure, credit agency ratings and production profile, as well as political and economic factors in countries of operations and other customer-specific factors.

Venezuela. We continue to experience delays in collecting payments on our receivables from our primary customer in Venezuela. These outstanding receivables are not disputed, and we have not historically had material write-offs relating to this customer. We are actively managing our strategic relationship with this customer, with ongoing dialogue between key executives of both companies, including discussions regarding this customer's intention to pay outstanding receivables. We will continue to vigorously pursue collection as we do business going forward in accordance with applicable U.S. sanctions.

During 2016, we exchanged $200 million of accounts receivables with our primary customer in Venezuela for an interest-bearing promissory note with a par value of the same amount. We recognized a pre-tax loss on the exchange of $148 million at that time and had been accreting the carrying amount of the note to its par value from the third quarter of 2016 through the fourth quarter of 2017. We received our first principal payment in November 2017 and received five scheduled interest payments since the note’s inception, but have not received the principal and interest payments scheduled in December 2017. In November 2017, several credit rating agencies downgraded this customer’s credit rating, some as low as a default level.

As a result of this credit downgrade, delayed payments, and deteriorating market conditions in Venezuela, we changed our accounting for our promissory note from held-to-maturity to available-for-sale, will no longer accrete the value of the note going forward, and will mark the note to its fair market value on a quarterly basis with any unrealized gains and losses included as a component of accumulated other comprehensive loss. Accordingly, we recognized an aggregate charge of $385 million during the fourth quarter of 2017, consisting of $77 million for a fair market value adjustment of the note and $308 million for a full reserve against our other accounts receivable with this customer. During the second quarter of 2017, we recognized a charge of $262 million in anticipation of completing an additional note exchange with this customer. However, based on recent executive management changes at, and recent conversations with, this customer, we no longer expect this transaction to take place. The aggregate charges of $647 million during 2017 relating to Venezuela are included within "Impairments and other charges" in our consolidated statements of operations.

As of December 31, 2017, we had $117 million in total outstanding net trade receivables in Venezuela, compared to $610 million as of December 31, 2016. The majority of these receivables are United States dollar-denominated. Additionally, the carrying amount of our existing promissory note was $32 million as of December 31, 2017 and classified as “Other assets” on our consolidated balance sheets, compared to its par value of $175 million. We still intend to hold this promissory note to maturity and will continue to vigorously pursue collection on this note and other accounts receivable with this customer.

On January 29, 2018, the Venezuelan government announced that it has changed the existing dual-rate foreign exchange system by eliminating the DIPRO foreign exchange rate. All future currency transactions will now be carried out at the DICOM floating rate. We are currently evaluating the impact that this change in foreign exchange system will have on our business, consolidated results of operations and consolidated financial condition. This includes potential further write-downs of our net investment in Venezuela, which was approximately $202 million as of December 31, 2017. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Business Environment and Results of Operations” for additional information about the foreign currency exchange system in Venezuela, Note 12 for additional information about the promissory note and Part I, Item 1(a), “Risk Factors” for additional information on risks associated with our operations in Venezuela, including recent sanctions imposed in the country.

The following table presents a rollforward of our global allowance for bad debts for 2015, 2016 and 2017.



Millions of dollars	Balance at Beginning of Period		Charged to Costs and Expenses		Write-Offs			Balance at End of Period
Year ended December 31, 2015	$	137	$	44	$	(36	)	$	145
Year ended December 31, 2016	145		50		(20		)	175
Year ended December 31, 2017	175		568		(18		)	725

Inventories

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost and net realizable value. In the United States, we manufacture certain finished products and parts inventories for drill bits, completion products, bulk materials and other tools that are recorded using the last-in, first-out method, which totaled $177 million at December 31, 2017 and $133 million at December 31, 2016. If the average cost method had been used, total inventories would have been $31 million higher than reported as of December 31, 2017 and $16 million higher as of December 31, 2016. The cost of the remaining inventory was recorded using the average cost method. Inventories consisted of the following:



	December 31
Millions of dollars	2017		2016
Finished products and parts	$	1,547	$	1,388
Raw materials and supplies	703		778
Work in process	146		109
Total	$	2,396	$	2,275

All amounts in the table above are reported net of obsolescence reserves of $276 million at December 31, 2017 and $263 million at December 31, 2016.

Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, Plant and Equipment

Property, plant and equipment were composed of the following:



	December 31
Millions of dollars	2017		2016
Land	$	248	$	228
Buildings and property improvements	3,460		3,399
Machinery, equipment and other	17,062		16,103
Total	20,770		19,730
Less accumulated depreciation	12,249		11,198
Net property, plant and equipment	$	8,521	$	8,532

Classes of assets are depreciated over the following useful lives:



	Buildings and Property Improvements
	2017	2016
1 - 10 years	11%	11%
11 - 20 years	42%	42%
21 - 30 years	22%	22%
31 - 40 years	25%	25%



	Machinery, Equipment and Other
	2017	2016
1 - 5 years	35%	34%
6 - 10 years	56%	57%
11 - 20 years	9%	9%

Debt

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Debt

Our total debt, including short-term borrowings and current maturities of long-term debt, consisted of the following:



	December 31
Millions of dollars	2017			2016
5.0% senior notes due November 2045	$	2,000		$	2,000
3.8% senior notes due November 2025	2,000			2,000
3.5% senior notes due August 2023	1,100			1,100
4.85% senior notes due November 2035	1,000			1,000
7.45% senior notes due September 2039	1,000			1,000
4.75% senior notes due August 2043	900			900
6.7% senior notes due September 2038	800			800
3.25% senior notes due November 2021	500			500
4.5% senior notes due November 2041	500			500
2.0% senior notes due August 2018	400			400
7.6% senior debentures due August 2096	300			300
8.75% senior debentures due February 2021	185			185
6.75% notes due February 2027	104			104
6.15% senior notes due September 2019	—			1,000
5.9% senior notes due September 2018	—			400
7.53% notes due May 2017	—			45
Other	251			260
Unamortized debt issuance costs and discounts	(98		)	(110		)
Total	10,942			12,384
Short-term borrowings and current maturities of long-term debt	(512		)	(170		)
Total long-term debt	$	10,430		$	12,214

Senior debt

All of our senior notes and debentures rank equally with our existing and future senior unsecured indebtedness, have semiannual interest payments and have no sinking fund requirements. We may redeem all of our senior notes from time to time or all of the notes of each series at any time at the applicable redemption prices, plus accrued and unpaid interest. Our 7.60% and 8.75% senior debentures may not be redeemed prior to maturity.

In March 2017, we used cash on hand to redeem an aggregate principal amount of $1.4 billion of senior notes, which consisted of $400 million of 5.9% senior notes due September 2018 and $1.0 billion of 6.15% senior notes due September 2019. In conjunction with this redemption, we terminated a series of interest rate swaps associated with these senior notes. As a result, we recorded $104 million in costs related to the early extinguishment of debt, which included the redemption premium and a write-off of the remaining original debt issuance costs and debt discount, partially offset by a gain from the termination of the related interest rate swap agreements. These debt extinguishment costs are included in interest expense on our consolidated statement of operations for the year ended December 31, 2017. We also repaid $45 million of notes that matured in May 2017. Our $400 million of 2.0% senior notes will mature in August 2018, which we intend to repay with cash on hand.

Revolving credit facilities

We have a revolving credit facility with a capacity of $3.0 billion which expires in July 2020. The facility is for working capital or general corporate purposes. The full amount of the revolving credit facility was available as of December 31, 2017.

Debt maturities

Our long-term debt matures as follows: $440 million in 2018, $30 million in 2019, $26 million in 2020, $709 million in 2021, $14 million in 2022 and the remainder in 2023 and thereafter.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Securities and related litigation

In June 2002, a class action lawsuit was commenced against us in federal court alleging violations of the federal securities laws in connection with our change in accounting for revenue on long-term construction projects and related disclosures. In the weeks that followed, approximately twenty similar class actions were filed against us. The class action cases were later consolidated, and the amended consolidated class action complaint was filed and served upon us in April 2003. In June 2003, the plaintiffs filed a second amended consolidated complaint that included claims arising out of our 1998 acquisition of Dresser Industries, Inc. and our disclosures and reserves relating to our asbestos liability exposure.

In December 2016, we reached an agreement in principle to settle this lawsuit, without any admission of liability and subject to approval by the district court. During the second quarter of 2017, we paid approximately $54 million of the $100 million settlement fund, and our insurer paid the balance. On July 31, 2017, the district court issued final approval of the settlement.

The settlement resolves all pending cases other than Magruder v. Halliburton Co., et. al. (the Magruder case). The allegations arise out of the same general events described above, but for a later class period, December 8, 2001 to May 28, 2002. There has been limited activity in the Magruder case. In March 2009, our motion to dismiss was granted, with leave to re-plead. In March 2012, plaintiffs filed an amended complaint and in May 2012, we filed another motion to dismiss, which remains pending. We cannot predict the outcome or consequences of this case, which we intend to vigorously defend.

Environmental

We are subject to numerous environmental, legal and regulatory requirements related to our operations worldwide. In the United States, these laws and regulations include, among others:


-	the Comprehensive Environmental Response, Compensation and Liability Act;


-	the Resource Conservation and Recovery Act;


-	the Clean Air Act;


-	the Federal Water Pollution Control Act;


-	the Toxic Substances Control Act; and


-	the Oil Pollution Act.

In addition to the federal laws and regulations, states and other countries where we do business often have numerous environmental, legal and regulatory requirements by which we must abide. We evaluate and address the environmental impact of our operations by assessing and remediating contaminated properties in order to avoid future liabilities and comply with environmental, legal and regulatory requirements. Our Health, Safety and Environment group has several programs in place to maintain environmental leadership and to help prevent the occurrence of environmental contamination. On occasion we are involved in environmental litigation and claims, including the remediation of properties we own or have operated, as well as efforts to meet or correct compliance-related matters. We do not expect costs related to those claims and remediation requirements to have a material adverse effect on our liquidity, consolidated results of operations, or consolidated financial position. Our accrued liabilities for environmental matters were $48 million as of December 31, 2017 and $50 million as of December 31, 2016. Because our estimated liability is typically within a range and our accrued liability may be the amount on the low end of that range, our actual liability could eventually be well in excess of the amount accrued. Our total liability related to environmental matters covers numerous properties.

Additionally, we have subsidiaries that have been named as potentially responsible parties along with other third parties for eight federal and state Superfund sites for which we have established reserves. As of December 31, 2017, those eight sites accounted for approximately $5 million of our $48 million total environmental reserve. Despite attempts to resolve these Superfund matters, the relevant regulatory agency may at any time bring suit against us for amounts in excess of the amount accrued. With respect to some Superfund sites, we have been named a potentially responsible party by a regulatory agency; however, in each of those cases, we do not believe we have any material liability. We also could be subject to third-party claims with respect to environmental matters for which we have been named as a potentially responsible party.

Guarantee arrangements

In the normal course of business, we have agreements with financial institutions under which approximately $1.8 billion of letters of credit, bank guarantees, or surety bonds were outstanding as of December 31, 2017. Some of the outstanding letters of credit have triggering events that would entitle a bank to require cash collateralization. None of these off balance sheet arrangements either has, or is likely to have, a material effect on our consolidated financial statements.

Leases

We are party to numerous operating leases, primarily related to real estate, transportation and equipment. Total rentals on our operating leases, net of sublease rentals, were $574 million in 2017, $587 million in 2016 and $875 million in 2015.

Future total rentals on our noncancellable operating leases are $720 million in the aggregate, which includes the following: $166 million in 2018; $135 million in 2019; $100 million in 2020; $71 million in 2021; $54 million in 2022; and $194 million thereafter.

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

The components of the benefit (provision) for income taxes on continuing operations were:



	Year Ended December 31
Millions of dollars	2017			2016			2015
Current income taxes:
Federal	$	40		$	737		$	635
Foreign	(423		)	(415		)	(636		)
State	(14		)	35			51
Total current	(397		)	357			50
Deferred income taxes:
Federal	(678		)	1,343			(18		)
Foreign	(31		)	77			262
State	(25		)	81			(20		)
Total deferred	(734		)	1,501			224
Income tax benefit (provision)	$	(1,131	)	$	1,858		$	274

The United States and foreign components of income (loss) from continuing operations before income taxes were as follows:



	Year Ended December 31
Millions of dollars	2017			2016			2015
United States	$	694		$	(6,636	)	$	(1,560	)
Foreign	(12		)	(989		)	624
Total	$	682		$	(7,625	)	$	(936	)

Reconciliations between the actual provision for income taxes on continuing operations and that computed by applying the United States statutory rate to income (loss) from continuing operations before income taxes were as follows:



	Year Ended December 31
	2017		2016		2015
United States statutory rate	35.0	%	35.0	%	35.0	%
Impact of U.S. tax reform	113.0		—		—
Venezuela receivables adjustment	36.6		—		(7.5	)
Impact of foreign income taxed at different rates	(18.3	)	(3.2	)	17.0
Valuation allowance against tax assets	(6.2	)	(2.1	)	(8.3	)
Undistributed foreign earnings	3.8		(5.1	)	—
Adjustments of prior year taxes	(2.3	)	0.2		1.3
State income taxes	1.7		1.0		2.0
Domestic manufacturing deduction	—		(1.3	)	—
Non-deductible acquisition costs	—		0.6		(4.5	)
Other items, net	2.5		(0.7	)	(5.7	)
Total effective tax rate on continuing operations	165.8	%	24.4	%	29.3	%

Our effective tax rate on continuing operations was 165.8% for 2017, 24.4% for 2016 and 29.3% for 2015. For the year ended December 31, 2017, we had the following significant items impacting our effective tax rate:


–	we recorded an aggregate charge of $647 million on Venezuela receivables for which we are not recognizing a corresponding tax benefit. See Note 3 to the consolidated financial statements for further information;


–	we recorded $770 million of tax expenses associated with United States tax reform, as described below; and


–	we recognized income in our foreign operations in which the corresponding tax expenses are applied at lower statutory rates in certain jurisdictions.

On December 22, 2017, the President of the United States signed into law what is informally called the Tax Cuts and Jobs Act of 2017 (the “Act”), a comprehensive U.S. tax reform package that, effective January 1, 2018, among other things, lowered the corporate income tax rate from 35% to 21% and moved the country towards a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of foreign subsidiaries. Under the accounting rules, companies are required to recognize the effects of changes in tax laws and tax rates on deferred tax assets and liabilities in the period in which the new legislation is enacted. The effects of the Act on Halliburton include three major categories: (i) recognition of liabilities for taxes on mandatory deemed repatriation, (ii) remeasurement of deferred taxes and (iii) reassessment of the realizability of deferred tax assets. As described further below, we recorded a total provision to income taxes of $770 million in the year ended December 31, 2017. As we do not have all the necessary information to analyze all income tax effects of the Act, this is a provisional amount which we believe represents a reasonable estimate of the accounting implications of this tax reform. We will continue to evaluate the Act and adjust the provisional amounts as additional information is obtained. The ultimate impact of tax reform may differ from our provisional amounts due to changes in our interpretations and assumptions, as well as additional regulatory guidance that may be issued.

We expect to complete our detailed analysis no later than the fourth quarter of 2018. Below is a brief description of each of the three categories of effects from U.S. tax reform and its impact on us:

(i)

Liability for taxes due on mandatory deemed repatriation - under the Act, a company’s foreign earnings accumulated under the legacy tax laws are deemed to be repatriated into the United States. We recorded a provisional estimate of federal and state tax related to deemed repatriation in the amount of approximately $305 million. However, we had an existing United States tax liability associated with foreign earnings that were not permanently reinvested outside the United States in the amount of $435 million. It is now expected that these foreign earnings can be repatriated to the United States without any additional United States tax above the amount accrued related to the mandatory deemed repatriation. Accordingly, we released the entire $435 million liability. This $435 million release combined with the provisional amount accrued related to the mandatory deemed repatriation of $305 million resulted in us recognizing a net benefit of approximately $130 million for this item. We are currently analyzing the potential tax liabilities attributable to any additional repatriation, but we have yet to determine whether we plan to change our prior assertion and repatriate any additional earnings. Accordingly, we have not recorded any deferred taxes attributable to other investments in our foreign subsidiaries. We will record the tax effects of any change in our prior assertion in the period that we complete our analysis and are able to make a reasonable estimate, and disclose any unrecognized deferred tax liability for temporary differences related to our foreign investments, if practicable.


(ii)	Remeasurement of deferred taxes - under the Act, the U.S. corporate income tax rate was reduced from 35% to 21%. Accordingly, we remeasured our U.S. deferred tax assets as of December 31, 2017 to a 21% rate, resulting in a tax expense of $283 million.

(iii)

Reassessment of the realizability of deferred tax assets - under the Act, many of the foreign tax credit utilization rules were changed that required us to reassess the realizability of our foreign tax credit deferred tax asset. After review, it was determined that under the new U.S. foreign tax credit rules we would not ultimately realize the full benefit associated with our foreign tax credits at December 31, 2017. Accordingly, we recognized a provisional estimate of a valuation allowance related to our foreign tax credits in the amount of $575 million. In addition, we had recorded foreign tax credit benefits associated with a liability related to uncertain tax benefits recorded on foreign branches of our U.S. subsidiaries. We determined that these foreign tax credits would also ultimately become unrealizable. Accordingly, a provision of approximately $40 million was recognized.

The primary components of our deferred tax assets and liabilities were as follows:



	December 31
Millions of dollars	2017		2016
Gross deferred tax assets:
Net operating loss carryforwards	$	1,370	$	1,647
Foreign tax credit carryforwards	828		648
Employee compensation and benefits	263		352
Accrued liabilities	97		325
Other	416		536
Total gross deferred tax assets	2,974		3,508
Gross deferred tax liabilities:
Depreciation and amortization	315		585
Undistributed foreign earnings	242		406
Other	56		145
Total gross deferred tax liabilities	613		1,136
Valuation allowances	1,173		453
Net deferred income tax asset	$	1,188	$	1,919

At December 31, 2017, we had $1.4 billion of domestic and foreign tax-effected net operating loss carryforwards. The ultimate realization of these deferred tax assets depends on the ability to generate sufficient taxable income in the appropriate taxing jurisdiction. $161 million of the net operating loss carryforwards will expire after taxable years ended from 2018 through 2022, $160 million will expire after taxable years ended from 2023 through 2027, and $693 million will expire after taxable years ended from 2028 through 2037. The remaining balance will not expire. Additionally, we had $911 million of foreign tax credit carryforwards that will expire from 2023 through 2027, which are offset by foreign branch deferred activity reflected in the above table, along with $102 million of research and development tax credit carryforwards that will expire from 2028 through 2037.

The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties.



Millions of dollars	Unrecognized Tax Benefits				Interest and Penalties
Balance at January 1, 2015	$	314			$	56
Change in prior year tax positions	(33		)		7
Change in current year tax positions	62				1
Cash settlements with taxing authorities	(16		)		(15		)
Lapse of statute of limitations	(5		)		(2		)
Balance at December 31, 2015	$	322			$	47
Change in prior year tax positions	44				20
Change in current year tax positions	129				3
Cash settlements with taxing authorities	(62		)		(8		)
Lapse of statute of limitations	(6		)		(1		)
Balance at December 31, 2016	$	427		(a)	$	61
Change in prior year tax positions	(108		)		—
Change in current year tax positions	24				2
Cash settlements with taxing authorities	(6		)		—
Lapse of statute of limitations	(4		)		(3		)
Balance at December 31, 2017	$	333		(a)(b)	$	60

(a)

Includes $9 million as of December 31, 2017 and $84 million as of December 31, 2016 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2017 and December 31, 2016, approximately $319 million and $257 million, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor.


(b)	Includes $23 million that could be resolved within the next 12 months.

We file income tax returns in the United States federal jurisdiction and in various states and foreign jurisdictions. In most cases, we are no longer subject to state, local, or non-United States income tax examination by tax authorities for years before 2009. Tax filings of our subsidiaries, unconsolidated affiliates and related entities are routinely examined in the normal course of business by tax authorities. Currently, our United States federal tax filings for the tax years 2012 through 2015 are under review by the Internal Revenue Service, and the appeal process is closed for the tax years 2010 through 2011.

Shareholders' Equity

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Shares of common stock

The following table summarizes total shares of common stock outstanding:



	December 31
Millions of shares	2017		2016
Issued	1,069		1,070
In treasury	(196	)	(204	)
Total shares of common stock outstanding	873		866

Our Board of Directors has authorized a program to repurchase our common stock from time to time. The program does not require a specific number of shares to be purchased and the program may be effected through solicited or unsolicited transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time. There were no repurchases made under the program during the years ended December 31, 2017 and 2016. Approximately $5.7 billion remains authorized for repurchases as of December 31, 2017. From the inception of this program in February 2006 through December 31, 2017, we repurchased approximately 201 million shares of our common stock for a total cost of approximately $8.4 billion.

Preferred stock

Our preferred stock consists of five million total authorized shares at December 31, 2017, of which none are issued.

Accumulated other comprehensive loss

Accumulated other comprehensive loss consisted of the following:



	December 31
Millions of dollars	2017			2016
Defined benefit and other postretirement liability adjustments (a)	$	(334	)	$	(313	)
Cumulative translation adjustment	(80		)	(80		)
Other	(55		)	(61		)
Total accumulated other comprehensive loss	$	(469	)	$	(454	)

(a) Included net actuarial losses for our international pension plans of $295 million at December 31, 2017 and $290 million at December 31, 2016.

Stock-based Compensation

12 Months Ended

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Stock-based Compensation

The following table summarizes stock-based compensation costs for the years ended December 31, 2017, 2016 and 2015.



	Year Ended December 31
Millions of dollars	2017			2016			2015
Stock-based compensation cost	$	290		$	262		$	294
Tax benefit	(64		)	(77		)	(99		)
Stock-based compensation cost, net of tax	$	226		$	185		$	195

Our Stock and Incentive Plan, as amended (Stock Plan), provides for the grant of any or all of the following types of stock-based awards:


-	stock options, including incentive stock options and nonqualified stock options;


-	restricted stock awards;


-	restricted stock unit awards;


-	stock appreciation rights; and


-	stock value equivalent awards.

There are currently no stock appreciation rights, stock value equivalent awards, or incentive stock options outstanding. Under the terms of the Stock Plan, approximately 206 million shares of common stock have been reserved for issuance to employees and non-employee directors. At December 31, 2017, approximately 19 million shares were available for future grants under the Stock Plan. The stock to be offered pursuant to the grant of an award under the Stock Plan may be authorized but unissued common shares or treasury shares.

In addition to the provisions of the Stock Plan, we also have stock-based compensation provisions under our Restricted Stock Plan for Non-Employee Directors and our Employee Stock Purchase Plan (ESPP).

Each of the active stock-based compensation arrangements is discussed below.

Stock options

The majority of our options are generally issued during the second quarter of the year. All stock options under the Stock Plan are granted at the fair market value of our common stock at the grant date. Employee stock options generally vest ratably over a three-year period and expire 10 years from the grant date. Compensation expense for stock options is generally recognized on a straight line basis over the entire vesting period.

The following table represents our stock options activity during 2017.



	Number of Shares (in millions)		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2017	20.6		$	44.01
Granted	2.5		48.39
Exercised	(1.4	)	36.60
Forfeited/expired	(0.7	)	47.99
Outstanding at December 31, 2017	21.0		$	44.92	6.3	$	138
Exercisable at December 31, 2017	15.0		$	45.04	5.4	$	105

The total intrinsic value of options exercised was $21 million in 2017, $25 million in 2016 and $9 million in 2015. As of December 31, 2017, there was $48 million of unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock options, which is expected to be recognized over a weighted average period of approximately two years.

Cash received from issuance of common stock was $158 million during 2017, $186 million during 2016 and $167 million during 2015, of which $53 million, $80 million and $23 million related to proceeds from exercises of stock options in 2017, 2016 and 2015, respectively. The remainder relates to cash proceeds from the issuance of shares related to our employee stock purchase plan.

The fair value of options at the date of grant was estimated using the Black-Scholes option pricing model. The expected volatility of options granted was a blended rate based upon implied volatility calculated on actively traded options on our common stock and upon the historical volatility of our common stock. The expected term of options granted was based upon historical observation of actual time elapsed between date of grant and exercise of options for all employees. The assumptions and resulting fair values of options granted were as follows:



	Year Ended December 31
	2017	2016	2015
Expected term (in years)	5.24	5.21	5.16
Expected volatility	32%	37%	39%
Expected dividend yield	1.28 - 1.72%	1.35 - 2.46%	1.51 - 1.85%
Risk-free interest rate	1.79 - 2.14%	1.13 - 1.84%	1.43 - 1.72%
Weighted average grant-date fair value per share	$13.11	$12.33	$13.47

Restricted stock

Restricted shares issued under the Stock Plan are restricted as to sale or disposition. These restrictions lapse periodically generally over a period of five years. Restrictions may also lapse for early retirement and other conditions in accordance with our established policies. Upon termination of employment, shares on which restrictions have not lapsed must be returned to us, resulting in restricted stock forfeitures. The fair market value of the stock on the date of grant is amortized and charged to income on a straight-line basis over the requisite service period for the entire award.

The following table represents our restricted stock awards and restricted stock units granted, vested and forfeited during 2017.



	Number of Shares (in millions)		Weighted Average Grant-Date Fair Value per Share
Nonvested shares at January 1, 2017	15.1		$	44.96
Granted	5.6		45.99
Vested	(4.5	)	44.40
Forfeited	(1.1	)	46.25
Nonvested shares at December 31, 2017	15.1		$	45.42

The weighted average grant-date fair value of shares granted was $45.99 during 2017, $42.87 during 2016 and $43.24 during 2015. The total fair value of shares vested was $204 million during 2017, $223 million during 2016, and $211 million during 2015. As of December 31, 2017, there was $448 million of unrecognized compensation cost, net of estimated forfeitures, related to nonvested restricted stock, which is expected to be recognized over a weighted average period of three years.

Employee Stock Purchase Plan

Under the ESPP, eligible employees may have up to 10% of their earnings withheld, subject to some limitations, to be used to purchase shares of our common stock. The ESPP contains four three-month offering periods commencing on January 1, April 1, July 1 and October 1 of each year. The price at which common stock may be purchased under the ESPP is equal to 85% of the lower of the fair market value of the common stock on the commencement date or last trading day of each offering period. Under this plan, 74 million shares of common stock have been reserved for issuance. The stock to be offered may be authorized but unissued common shares or treasury shares. As of December 31, 2017, 46 million shares have been sold through the ESPP since the inception of the plan and 28 million shares are available for future issuance.

The fair value of ESPP shares was estimated using the Black-Scholes option pricing model. The expected volatility was a one-year historical volatility of our common stock. The assumptions and resulting fair values were as follows:



	Year Ended December 31
	2017			2016			2015
Expected volatility	29		%	36		%	35		%
Expected dividend yield	1.51		%	1.87		%	1.82		%
Risk-free interest rate	0.86		%	0.25		%	0.01		%
Weighted average grant-date fair value per share	$	9.95		$	8.61		$	8.62

Income per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Income per Share

Basic income or loss per share is based on the weighted average number of common shares outstanding during the period. Diluted income per share includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted income or loss per share as their impact was antidilutive.

A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows:



	Year Ended December 31
Millions of shares	2017	2016	2015
Basic weighted average common shares outstanding	870	861	853
Dilutive effect of awards granted under our stock incentive plans	—	—	—
Diluted weighted average common shares outstanding	870	861	853

Antidilutive shares:
Options with exercise price greater than the average market price	6	11	10
Options which are antidilutive due to net loss position	2	1	2
Total antidilutive shares	8	12	12

Financial Instruments and Risk Management

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments and Risk Management

At December 31, 2017, we held $106 million of investments in fixed income securities with maturities ranging from less than one year to November 2020, of which $69 million are classified as “Other current assets” and $37 million are classified as “Other assets” on our consolidated balance sheets. At December 31, 2016, we held $92 million of investments in fixed income securities. These securities consist primarily of corporate bonds and other debt instruments, are accounted for as available-for-sale and are recorded at fair value based on quoted prices for identical assets in less active markets, which are categorized within level 2 on the fair value hierarchy.

We have an interest-bearing promissory note with our primary customer in Venezuela. At December 31, 2017, the carrying amount of this note was $32 million compared to its par value of $175 million. At December 31, 2016, the carrying amount of this note was $70 million compared to its par value of $200 million. Fair market value was measured based on pricing data points for similar assets in an illiquid market and categorized within level 3 on the fair value hierarchy. We had been using an effective interest method to accrete the carrying amount to its par value as it matures with accretion income being recorded through “Interest expense, net of interest income” on our consolidated statements of operations. During the fourth quarter of 2017, we changed our accounting for our promissory note from held-to-maturity to available-for-sale and will no longer accrete the value of the note going forward. Instead, we are required to mark the note to its fair market value on a quarterly basis with any unrealized gains and losses included as a component of accumulated other comprehensive loss. See Note 3 for additional information about our promissory note from our primary customer in Venezuela.

The carrying amount of cash and equivalents, receivables and accounts payable, as reflected in the consolidated balance sheets, approximates fair value due to the short maturities of these instruments.

The carrying amount and fair value of our total debt, including short-term borrowings and current maturities of long term debt, is as follows:



	December 31, 2017								December 31, 2016
Millions of dollars	Level 1		Level 2		Total fair value		Carrying value		Level 1		Level 2		Total fair value		Carrying value
Total debt	$	3,285	$	9,172	$	12,457	$	10,942	$	753	$	12,812	$	13,565	$	12,384

Our debt categorized within level 1 on the fair value hierarchy is calculated using quoted prices in active markets for identical liabilities with transactions occurring on the last two days of period-end. Our debt categorized within level 2 on the fair value hierarchy is calculated using significant observable inputs for similar liabilities where estimated values are determined from observable data points on our other bonds and on other similarly rated corporate debt or from observable data points of transactions occurring prior to two days from period-end and adjusting for changes in market conditions. Our total fair value and carrying value of debt decreased in 2017 compared to 2016 primarily due to the early extinguishment of $1.4 billion of senior notes. Additionally, differences between the periods presented in our level 1 and level 2 classification of our long-term debt relate to the timing of when transactions are executed. We have no debt categorized within level 3 on the fair value hierarchy based on unobservable inputs.

We are exposed to market risk from changes in foreign currency exchange rates and interest rates. We selectively manage these exposures through the use of derivative instruments, including forward foreign exchange contracts, foreign exchange options and interest rate swaps. The objective of our risk management strategy is to minimize the volatility from fluctuations in foreign currency and interest rates. We do not use derivative instruments for trading purposes. The fair value of our forward contracts, options and interest rate swaps was not material as of December 31, 2017 or December 31, 2016. The counterparties to our derivatives are primarily global commercial and investment banks.

Foreign currency exchange risk

We have operations in many international locations and are involved in transactions denominated in currencies other than the United States dollar, our functional currency, which exposes us to foreign currency exchange rate risk. Techniques in managing foreign currency exchange risk include, but are not limited to, foreign currency borrowing and investing and the use of currency exchange instruments. We attempt to selectively manage significant exposures to potential foreign currency exchange losses based on current market conditions, future operating activities and the associated cost in relation to the perceived risk of loss. The purpose of our foreign currency risk management activities is to minimize the risk that our cash flows from the purchase and sale of products and services in foreign currencies will be adversely affected by changes in exchange rates.

We use forward contracts and options to manage our exposure to fluctuations in the currencies of certain countries in which we do business internationally. These instruments are not treated as hedges for accounting purposes, generally have an expiration date of one year or less and are not exchange traded. While these instruments are subject to fluctuations in value, the fluctuations are generally offset by the value of the underlying exposures being managed. The use of some of these instruments may limit our ability to benefit from favorable fluctuations in foreign currency exchange rates.

Derivatives are not utilized to manage exposures in some currencies due primarily to the lack of available markets or cost considerations (non-traded currencies). We attempt to manage our working capital position to minimize foreign currency exposure in non-traded currencies and recognize that pricing for the services and products offered in these countries should account for the cost of exchange rate devaluations. We have historically incurred transaction losses in non-traded currencies.

The notional amounts of open foreign exchange derivatives were $633 million at December 31, 2017 and $603 million at December 31, 2016. The notional amounts of these instruments do not generally represent amounts exchanged by the parties, and thus are not a measure of our exposure or of the cash requirements related to these contracts. As such, cash flows related to these contracts are typically not material. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the contracts, such as exchange rates.

Interest rate risk

We are subject to interest rate risk on our existing long-term debt and some of our long-term investments in fixed income securities. Our short-term borrowings and short-term investments in fixed income securities do not give rise to significant interest rate risk due to their short-term nature. We had fixed rate long-term debt totaling $10.4 billion at December 31, 2017 and $12.2 billion at December 31, 2016. We also had $37 million of long-term investments in fixed income securities at December 31, 2017 with maturities that extend through November 2020.

We maintain an interest rate management strategy that is intended to mitigate the exposure to changes in interest rates in the aggregate for our debt portfolio. We use interest rate swaps to effectively convert a portion of our fixed rate debt to floating LIBOR-based rates. Our interest rate swaps, which expire when the underlying debt matures, are designated as fair value hedges of the underlying debt and are determined to be highly effective. These derivative instruments are marked to market with gains and losses recognized currently in interest expense to offset the respective gains and losses recognized on changes in the fair value of the hedged debt. During the first quarter of 2017, we terminated a series of our interest rate swaps with a notional amount of $1.4 billion in conjunction with our early redemption of senior notes. We included the gain from the swap termination in our calculation of early debt extinguishment costs. See Note 6 for further information. As of December 31, 2017, we had one remaining interest rate swap relating to one of our debt instruments with a total notional amount of $100 million. The fair value of our interest rate swaps as of December 31, 2017 and December 31, 2016 are included in “Other assets” in our consolidated balance sheets and were immaterial. The fair value of our interest rate swaps are categorized within level 2 on the fair value hierarchy and were determined using an income approach model with inputs, such as the notional amount, LIBOR rate spread and settlement terms that are observable in the market or can be derived from or corroborated by observable data.

Credit risk

Financial instruments that potentially subject us to concentrations of credit risk are primarily cash equivalents, investments in fixed income securities, trade receivables and a promissory note we hold with our primary customer in Venezuela. It is our practice to place our cash equivalents and investments in fixed income securities in high quality investments with various institutions. Our revenue is generated from selling products and providing services to the energy industry. Our trade receivables are from a broad and diverse group of customers and are generally not collateralized. As of December 31, 2017, 42% of our net trade receivables were from customers in the United States. As of December 31, 2016, 27% of our net trade receivables were from customers in the United States and 15% were from customers in Venezuela. We maintain an allowance for bad debts based upon several factors, including historical collection experience, current aging status of the customer accounts and financial condition of our customers. See Note 3 for further information.

We do not have any significant concentrations of credit risk with any individual counterparty to our derivative contracts. We select counterparties to those contracts based on our belief that each counterparty’s profitability, balance sheet and capacity for timely payment of financial commitments is unlikely to be materially adversely affected by foreseeable events.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Retirement Plans

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Retirement Plans

Our company and subsidiaries have various plans that cover a significant number of our employees. These plans include defined contribution plans, defined benefit plans and other postretirement plans:

our defined contribution plans provide retirement benefits in return for services rendered. These plans provide an individual account for each participant and have terms that specify how contributions to the participant’s account are to be determined rather than the amount of pension benefits the participant is to receive. Contributions to these plans are based on pretax income and/or discretionary amounts determined on an annual basis. Our expense for the defined contribution plans for continuing operations totaled $173 million in 2017, $111 million in 2016 and $288 million in 2015. The increase in 2017 resulted from an increase in the domestic workforce and the reinstatement of discretionary contributions in 2017.


-	our defined benefit plans, which include both funded and unfunded pension plans, define an amount of pension benefit to be provided, usually as a function of age, years of service and/or compensation. The unfunded obligations and net periodic benefit cost of our United States defined benefit plans were not material for the periods presented; and


-	our postretirement plans other than pensions are offered to specific eligible employees. The accumulated benefit obligations and net periodic benefit cost for these plans were not material for the periods presented.

Funded status

For our international pension plans, at December 31, 2017, the projected benefit obligation was $1.2 billion and the fair value of plan assets was $940 million, which resulted in an unfunded obligation of $280 million. At December 31, 2016, the projected benefit obligation was $1.1 billion and the fair value of plan assets was $865 million, which resulted in an unfunded obligation of $241 million. The accumulated benefit obligation was approximately the same as the projected benefit obligation for our international plans in both years presented.

The following table presents additional information about our international pension plans.



	December 31
Millions of dollars	2017		2016
Amounts recognized on the Consolidated Balance Sheets
Accrued employee compensation and benefits	$	15	$	16
Employee compensation and benefits	267		227
Pension plans in which projected benefit obligation exceeded plan assets
Projected benefit obligation	$	1,202	$	1,083
Fair value of plan assets	920		840
Pension plans in which accumulated benefit obligation exceeded plan assets
Accumulated benefit obligation	$	1,139	$	1,037
Fair value of plan assets	920		840

Fair value measurements of plan assets

The fair value of our plan assets categorized within level 1 on the fair value hierarchy is based on quoted prices in active markets for identical assets. The fair value of our plan assets categorized within level 2 on the fair value hierarchy is based on significant observable inputs for similar assets. The fair value of our plan assets categorized within level 3 on the fair value hierarchy is based on significant unobservable inputs.

The following table sets forth the fair values of assets held by our international pension plans by level within the fair value hierarchy.



Millions of dollars	Level 1		Level 2		Level 3		Total
Cash and equivalents	$	—	$	11	$	—	$	11
Common/collective trust funds (a)
Equity funds (b)	—		204		—		204
Bond funds (c)	—		323		46		369
Alternatives funds (d)	—		184		—		184
Real estate funds (e)	—		98		28		126
Other assets	7		22		17		46
Fair value of plan assets at December 31, 2017	$	7	$	842	$	91	$	940

Cash and equivalents	$	—	$	49	$	—	$	49
Common/collective trust funds (a)
Equity funds (b)	—		197		—		197
Bond funds (c)	—		232		44		276
Alternatives fund (d)	—		221		—		221
Real estate funds (e)	—		36		35		71
Other assets	5		20		26		51
Fair value of plan assets at December 31, 2016	$	5	$	755	$	105	$	865

(a) Common/collective trust funds are valued at the net asset value of units held by the plans at year-end.

(b) Strategy is to invest in diversified funds of global common stocks.

(c) Strategy is to invest in diversified funds of fixed income securities of varying geographies and credit quality and whose cash flows approximate the maturities of the benefit obligation.

(d) Strategy is to invest in a fund of diversifying investments, including but not limited to reinsurance, commodities and currencies.

(e) Strategy is to invest in diversified funds of real estate investment trusts and private real estate.

Our investment strategy varies by country depending on the circumstances of the underlying plan. Risk management practices include diversification by issuer, industry and geography, as well as the use of multiple asset classes and investment managers within each asset class. Our investment strategy for our United Kingdom pension plan, which constituted 84% of our international pension plans’ projected benefit obligation at December 31, 2017 and is no longer accruing service benefits, aims to achieve full funding of the benefit obligation, with the plan's assets increasingly composed of investments whose cash flows match the maturities of the obligation.

Net periodic benefit cost

Net periodic benefit cost for our international pension plans was $30 million in 2017, $30 million in 2016 and $42 million in 2015. Included in net periodic benefit cost were $13 million in 2017 and $8 million in 2016 of net curtailment and settlement cost arising from reductions in workforce during these years.

Actuarial assumptions

Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension plans at December 31 were as follows:



	2017	2016
Discount rate	2.8%	2.9%
Rate of compensation increase	5.5%	4.8%

Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international pension plans for the years ended December 31 were as follows:



	2017	2016	2015
Discount rate	2.9%	4.2%	4.1%
Expected long-term return on plan assets	4.2%	5.3%	5.9%
Rate of compensation increase	4.8%	5.4%	5.3%

Assumed long-term rates of return on plan assets, discount rates for estimating benefit obligations and rates of compensation increases vary by plan according to local economic conditions. Where possible, discount rates were determined based on the prevailing market rates of a portfolio of high-quality debt instruments with maturities matching the expected timing of the payment of the benefit obligations. Expected long-term rates of return on plan assets were determined based upon an evaluation of our plan assets and historical trends and experience, taking into account current and expected market conditions.

Other information

Contributions. Funding requirements for each plan are determined based on the local laws of the country where such plan resides. In certain countries the funding requirements are mandatory, while in other countries they are discretionary. We currently expect to contribute $17 million to our international pension plans in 2018.

Benefit payments. Expected benefit payments over the next 10 years for our international pension plans are as follows: $68 million in 2018, $61 million in 2019, $63 million in 2020, $67 million in 2021, $72 million in 2022 and $424 million in years 2023 through 2027.

New Accounting Pronouncements (Notes)	12 Months Ended
New Accounting Pronouncements (Notes)	Dec. 31, 2017
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	New Accounting Pronouncements Standards adopted in 2017 Stock-Based Compensation On January 1, 2017, we adopted an accounting standards update issued by the Financial Accounting Standards Board (FASB) which simplifies several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and the classification on the statement of cash flows. In addition, the update allows an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The element of the update that has the most impact on our financial statements is income tax consequences. Excess tax benefits and tax deficiencies on stock-based compensation awards are now included in our tax provision within our consolidated statement of operations as discrete items in the reporting period in which they occur, rather than previous accounting of recording in additional paid-in capital on our consolidated balance sheets. We have also elected to continue our current policy of estimating forfeitures of stock-based compensation awards at the time of grant and revising in subsequent periods to reflect actual forfeitures. We applied the update prospectively beginning January 1, 2017, and the adoption did not have a material impact on our consolidated financial statements. Intra-Entity Transfers of Assets On January 1, 2017, we adopted an accounting standards update issued by the FASB to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than the previous requirement to defer recognition of current and deferred income taxes for an intra-entity asset transfer until the asset had been sold to an outside party. Two common examples of assets included in the scope of this update are intellectual property and property, plant and equipment. The update was applied on a modified retrospective basis resulting in a cumulative-effect adjustment of $384 million recorded directly to retained earnings as of January 1, 2017. Inventory On January 1, 2017, we adopted an accounting standards update issued by the FASB which simplifies the measurement of inventory. The update now requires inventory measured using the first in, first out or average cost methods to be subsequently measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal and transportation. The update eliminated the requirement to subsequently measure inventory at the lower of cost or market, which could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The adoption of this update did not impact our consolidated financial statements. Standards not yet adopted Revenue Recognition In May 2014, the FASB issued a comprehensive new revenue recognition standard that will supersede existing revenue recognition guidance under U.S. GAAP. The core principle of the new guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard creates a five step model that requires companies to exercise judgment when considering the terms of a contract and all relevant facts and circumstances. The standard allows for several transition methods: (a) a full retrospective adoption in which the standard is applied to all of the periods presented, or (b) a modified retrospective adoption in which the standard is applied only to the most current period presented in the financial statements with a cumulative-effect adjustment reflected in retained earnings. The standard also requires expanded disclosures regarding the qualitative and quantitative information of an entity's nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This new revenue recognition standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. We performed a detailed review of our contract portfolio representative of our different businesses and compared historical accounting policies and practices to the new standard. Because the standard will impact our business processes, systems and controls, we also developed a comprehensive change management project plan to guide the implementation. Over the course of 2017, we have conducted training sessions for those in our global organization that will be impacted by the new standard and have developed a web-based training course providing a detailed overview of the key changes within the new standard. Our services are primarily short-term in nature, and we do not expect the new revenue recognition standard to have a material impact on our financial statements. We adopted the new standard effective January 1, 2018 utilizing the modified retrospective method. The cumulative-effect adjustment to retained earnings upon adoption is not material. Leases In February 2016, the FASB issued an accounting standards update related to accounting for leases, which requires the assets and liabilities that arise from leases to be recognized on the balance sheet. Currently only capital leases are recorded on the balance sheet. This update will require the lessee to recognize a lease liability equal to the present value of the lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases longer than 12 months. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities and recognize the lease expense for such leases generally on a straight-line basis over the lease term. The new lease standard will be effective for fiscal periods beginning after December 15, 2018, including interim periods within that reporting period. We are currently evaluating the impact that this update will have on our consolidated financial statements.

Description of Company and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use of estimates

Our financial statements are prepared in conformity with United States generally accepted accounting principles, requiring us to make estimates and assumptions that affect:


-	the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and


-	the reported amounts of revenue and expenses during the reporting period.

Basis of presentation

Revenue recognition

Research and development

Research and development costs are expensed as incurred. Research and development costs were $360 million in 2017, $329 million in 2016 and $487 million in 2015.

Cash equivalents

We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Inventories

Inventories are stated at the lower of cost and net realizable value.

Allowance for bad debts

Property, plant and equipment

Goodwill and other intangible assets



Millions of dollars	Completion and Production			Drilling and Evaluation			Total
Balance at December 31, 2015:	$	1,634		$	751		$	2,385
Current year acquisitions	31			—			31
Purchase price adjustments for previous acquisitions	(2		)	—			(2		)
Other	16			(16		)	—
Balance at December 31, 2016:	$	1,679		$	735		$	2,414
Current year acquisitions	249			36			285
Purchase price adjustments for previous acquisitions	(6		)	—			(6		)
Balance at December 31, 2017:	$	1,922		$	771		$	2,693

Finite-lived intangible assets

Impairment of long-lived assets

Evaluating impairment of long-lived assets

Income taxes

We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes on continuing operations in our consolidated statements of operations.

Derivative instruments


-	the change in fair value of the hedged assets, liabilities or firm commitments through earnings; or


-	recognized in other comprehensive income until the hedged item is recognized in earnings.

Foreign currency translations

Foreign currency translation

Stock-based compensation

Inventories (Policies)	12 Months Ended
Inventories (Policies)	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventory, Policy	Inventories Inventories are stated at the lower of cost and net realizable value. Cost represents invoice or production cost for new items and original cost less allowance for condition for used material returned to stock. Production cost includes material, labor and manufacturing overhead. Some domestic manufacturing and field service finished products and parts inventories for drill bits, completion products and bulk materials are recorded using the last-in, first-out method. The remaining inventory is recorded on the average cost method. We regularly review inventory quantities on hand and record provisions for excess or obsolete inventory based primarily on historical usage, estimated product demand and technological developments. Inventories are stated at the lower of cost and net realizable value.

Description of Company and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill are detailed below by reportable segment.



Millions of dollars	Completion and Production			Drilling and Evaluation			Total
Balance at December 31, 2015:	$	1,634		$	751		$	2,385
Current year acquisitions	31			—			31
Purchase price adjustments for previous acquisitions	(2		)	—			(2		)
Other	16			(16		)	—
Balance at December 31, 2016:	$	1,679		$	735		$	2,414
Current year acquisitions	249			36			285
Purchase price adjustments for previous acquisitions	(6		)	—			(6		)
Balance at December 31, 2017:	$	1,922		$	771		$	2,693

Business Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Information on business segments

The following tables present financial information on our business segments.



Operations by business segment
	Year Ended December 31
Millions of dollars	2017			2016			2015
Revenue:
Completion and Production	$	13,077		$	8,882		$	13,682
Drilling and Evaluation	7,543			7,005			9,951
Total revenue	$	20,620		$	15,887		$	23,633

Operating income (loss):
Completion and Production	$	1,621		$	107		$	1,069
Drilling and Evaluation	718			794			1,519
Total operations	2,339			901			2,588
Corporate and other (a)	(330		)	(4,322		)	(576		)
Impairments and other charges (b)	(647		)	(3,357		)	(2,177		)
Total operating income (loss)	$	1,362		$	(6,778	)	$	(165	)
Interest expense, net of interest income	$	(593	)	$	(639	)	$	(447	)
Other, net	(87		)	(208		)	(324		)
Income (loss) from continuing operations before income taxes	$	682		$	(7,625	)	$	(936	)
Capital expenditures:
Completion and Production	$	1,111		$	500		$	1,526
Drilling and Evaluation	261			297			650
Corporate and other	1			1			8
Total	$	1,373		$	798		$	2,184
Depreciation, depletion and amortization:
Completion and Production	$	953		$	900		$	1,160
Drilling and Evaluation	563			569			638
Corporate and other	40			34			37
Total	$	1,556		$	1,503		$	1,835

(b) Impairments and other charges are as follows:

Reconciliation of assets from segment to consolidated



	December 31
Millions of dollars	2017		2016
Total assets:
Completion and Production	$	12,276	$	10,349
Drilling and Evaluation	7,837		8,473
Shared assets	2,913		3,371
Corporate and other	2,059		4,807
Total	$	25,085	$	27,000

Schedule of revenue from external customers and long-lived assets, by geographical areas



Operations by geographic region
	Year Ended December 31
Millions of dollars	2017		2016		2015
Revenue:
North America	$	11,564	$	6,770	$	10,856
Latin America	2,116		1,860		3,149
Europe/Africa/CIS	2,781		2,993		4,175
Middle East/Asia	4,159		4,264		5,453
Total	$	20,620	$	15,887	$	23,633



	December 31
Millions of dollars	2017		2016
Net property, plant and equipment:
North America	$	4,922	$	4,431
Latin America	945		1,068
Europe/Africa/CIS	1,098		1,253
Middle East/Asia	1,556		1,780
Total	$	8,521	$	8,532

Receivables (Tables)

12 Months Ended

Dec. 31, 2017

Financing Receivable, Allowance for Credit Losses [Line Items]

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The following table presents a rollforward of our global allowance for bad debts for 2015, 2016 and 2017.



Millions of dollars	Balance at Beginning of Period		Charged to Costs and Expenses		Write-Offs			Balance at End of Period
Year ended December 31, 2015	$	137	$	44	$	(36	)	$	145
Year ended December 31, 2016	145		50		(20		)	175
Year ended December 31, 2017	175		568		(18		)	725

Inventories (Tables)

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventories

The cost of the remaining inventory was recorded using the average cost method. Inventories consisted of the following:



	December 31
Millions of dollars	2017		2016
Finished products and parts	$	1,547	$	1,388
Raw materials and supplies	703		778
Work in process	146		109
Total	$	2,396	$	2,275

Property, Plant, and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, plant, and equipment

Property, plant and equipment were composed of the following:



	December 31
Millions of dollars	2017		2016
Land	$	248	$	228
Buildings and property improvements	3,460		3,399
Machinery, equipment and other	17,062		16,103
Total	20,770		19,730
Less accumulated depreciation	12,249		11,198
Net property, plant and equipment	$	8,521	$	8,532

Percentages of building and property improvements, and total machinery, and equipment and other, excluding oil and natural gas investments, depreciated over useful lives

Classes of assets are depreciated over the following useful lives:



	Buildings and Property Improvements
	2017	2016
1 - 10 years	11%	11%
11 - 20 years	42%	42%
21 - 30 years	22%	22%
31 - 40 years	25%	25%



	Machinery, Equipment and Other
	2017	2016
1 - 5 years	35%	34%
6 - 10 years	56%	57%
11 - 20 years	9%	9%

Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of debt

Our total debt, including short-term borrowings and current maturities of long-term debt, consisted of the following:



	December 31
Millions of dollars	2017			2016
5.0% senior notes due November 2045	$	2,000		$	2,000
3.8% senior notes due November 2025	2,000			2,000
3.5% senior notes due August 2023	1,100			1,100
4.85% senior notes due November 2035	1,000			1,000
7.45% senior notes due September 2039	1,000			1,000
4.75% senior notes due August 2043	900			900
6.7% senior notes due September 2038	800			800
3.25% senior notes due November 2021	500			500
4.5% senior notes due November 2041	500			500
2.0% senior notes due August 2018	400			400
7.6% senior debentures due August 2096	300			300
8.75% senior debentures due February 2021	185			185
6.75% notes due February 2027	104			104
6.15% senior notes due September 2019	—			1,000
5.9% senior notes due September 2018	—			400
7.53% notes due May 2017	—			45
Other	251			260
Unamortized debt issuance costs and discounts	(98		)	(110		)
Total	10,942			12,384
Short-term borrowings and current maturities of long-term debt	(512		)	(170		)
Total long-term debt	$	10,430		$	12,214

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of the (provision)/benefit for income taxes on continuing operations

The components of the benefit (provision) for income taxes on continuing operations were:



	Year Ended December 31
Millions of dollars	2017			2016			2015
Current income taxes:
Federal	$	40		$	737		$	635
Foreign	(423		)	(415		)	(636		)
State	(14		)	35			51
Total current	(397		)	357			50
Deferred income taxes:
Federal	(678		)	1,343			(18		)
Foreign	(31		)	77			262
State	(25		)	81			(20		)
Total deferred	(734		)	1,501			224
Income tax benefit (provision)	$	(1,131	)	$	1,858		$	274

United States and foreign components of income from continuing operations before income taxes

The United States and foreign components of income (loss) from continuing operations before income taxes were as follows:



	Year Ended December 31
Millions of dollars	2017			2016			2015
United States	$	694		$	(6,636	)	$	(1,560	)
Foreign	(12		)	(989		)	624
Total	$	682		$	(7,625	)	$	(936	)

Reconciliations between the actual provision for income taxes on continuing operations and that computed by applying the US statutory rate to income from continuing operations before income taxes



	Year Ended December 31
	2017		2016		2015
United States statutory rate	35.0	%	35.0	%	35.0	%
Impact of U.S. tax reform	113.0		—		—
Venezuela receivables adjustment	36.6		—		(7.5	)
Impact of foreign income taxed at different rates	(18.3	)	(3.2	)	17.0
Valuation allowance against tax assets	(6.2	)	(2.1	)	(8.3	)
Undistributed foreign earnings	3.8		(5.1	)	—
Adjustments of prior year taxes	(2.3	)	0.2		1.3
State income taxes	1.7		1.0		2.0
Domestic manufacturing deduction	—		(1.3	)	—
Non-deductible acquisition costs	—		0.6		(4.5	)
Other items, net	2.5		(0.7	)	(5.7	)
Total effective tax rate on continuing operations	165.8	%	24.4	%	29.3	%

Primary components of deferred tax assets and liabilities

The primary components of our deferred tax assets and liabilities were as follows:



	December 31
Millions of dollars	2017		2016
Gross deferred tax assets:
Net operating loss carryforwards	$	1,370	$	1,647
Foreign tax credit carryforwards	828		648
Employee compensation and benefits	263		352
Accrued liabilities	97		325
Other	416		536
Total gross deferred tax assets	2,974		3,508
Gross deferred tax liabilities:
Depreciation and amortization	315		585
Undistributed foreign earnings	242		406
Other	56		145
Total gross deferred tax liabilities	613		1,136
Valuation allowances	1,173		453
Net deferred income tax asset	$	1,188	$	1,919

Rollforward of unrecognized tax benefits and associated interest and penalties

The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties.



Millions of dollars	Unrecognized Tax Benefits				Interest and Penalties
Balance at January 1, 2015	$	314			$	56
Change in prior year tax positions	(33		)		7
Change in current year tax positions	62				1
Cash settlements with taxing authorities	(16		)		(15		)
Lapse of statute of limitations	(5		)		(2		)
Balance at December 31, 2015	$	322			$	47
Change in prior year tax positions	44				20
Change in current year tax positions	129				3
Cash settlements with taxing authorities	(62		)		(8		)
Lapse of statute of limitations	(6		)		(1		)
Balance at December 31, 2016	$	427		(a)	$	61
Change in prior year tax positions	(108		)		—
Change in current year tax positions	24				2
Cash settlements with taxing authorities	(6		)		—
Lapse of statute of limitations	(4		)		(3		)
Balance at December 31, 2017	$	333		(a)(b)	$	60

(a)


(b)	Includes $23 million that could be resolved within the next 12 months.

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Schedule of shares of common stock

The following table summarizes total shares of common stock outstanding:



	December 31
Millions of shares	2017		2016
Issued	1,069		1,070
In treasury	(196	)	(204	)
Total shares of common stock outstanding	873		866

Schedule of accumulated other comprehensive income (loss)

Accumulated other comprehensive loss consisted of the following:



	December 31
Millions of dollars	2017			2016
Defined benefit and other postretirement liability adjustments (a)	$	(334	)	$	(313	)
Cumulative translation adjustment	(80		)	(80		)
Other	(55		)	(61		)
Total accumulated other comprehensive loss	$	(469	)	$	(454	)

(a) Included net actuarial losses for our international pension plans of $295 million at December 31, 2017 and $290 million at December 31, 2016

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes stock-based compensation costs for the years ended December 31, 2017, 2016 and 2015.



	Year Ended December 31
Millions of dollars	2017			2016			2015
Stock-based compensation cost	$	290		$	262		$	294
Tax benefit	(64		)	(77		)	(99		)
Stock-based compensation cost, net of tax	$	226		$	185		$	195

Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions and resulting fair values of options granted were as follows:



	Year Ended December 31
	2017	2016	2015
Expected term (in years)	5.24	5.21	5.16
Expected volatility	32%	37%	39%
Expected dividend yield	1.28 - 1.72%	1.35 - 2.46%	1.51 - 1.85%
Risk-free interest rate	1.79 - 2.14%	1.13 - 1.84%	1.43 - 1.72%
Weighted average grant-date fair value per share	$13.11	$12.33	$13.47

Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table represents our stock options activity during 2017.



	Number of Shares (in millions)		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2017	20.6		$	44.01
Granted	2.5		48.39
Exercised	(1.4	)	36.60
Forfeited/expired	(0.7	)	47.99
Outstanding at December 31, 2017	21.0		$	44.92	6.3	$	138
Exercisable at December 31, 2017	15.0		$	45.04	5.4	$	105

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table represents our restricted stock awards and restricted stock units granted, vested and forfeited during 2017.



	Number of Shares (in millions)		Weighted Average Grant-Date Fair Value per Share
Nonvested shares at January 1, 2017	15.1		$	44.96
Granted	5.6		45.99
Vested	(4.5	)	44.40
Forfeited	(1.1	)	46.25
Nonvested shares at December 31, 2017	15.1		$	45.42

Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions and resulting fair values were as follows:



	Year Ended December 31
	2017			2016			2015
Expected volatility	29		%	36		%	35		%
Expected dividend yield	1.51		%	1.87		%	1.82		%
Risk-free interest rate	0.86		%	0.25		%	0.01		%
Weighted average grant-date fair value per share	$	9.95		$	8.61		$	8.62

Income per Share Income per Share (Tables)

12 Months Ended

Dec. 31, 2017

Weighted average shares outstanding and antidilutive shares [Line Items]

Weighted average shares outstanding and antidilutive shares [Table Text Block]

A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows:



	Year Ended December 31
Millions of shares	2017	2016	2015
Basic weighted average common shares outstanding	870	861	853
Dilutive effect of awards granted under our stock incentive plans	—	—	—
Diluted weighted average common shares outstanding	870	861	853

Antidilutive shares:
Options with exercise price greater than the average market price	6	11	10
Options which are antidilutive due to net loss position	2	1	2
Total antidilutive shares	8	12	12

Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments



	December 31, 2017								December 31, 2016
Millions of dollars	Level 1		Level 2		Total fair value		Carrying value		Level 1		Level 2		Total fair value		Carrying value
Total debt	$	3,285	$	9,172	$	12,457	$	10,942	$	753	$	12,812	$	13,565	$	12,384

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The following table presents additional information about our international pension plans.



	December 31
Millions of dollars	2017		2016
Amounts recognized on the Consolidated Balance Sheets
Accrued employee compensation and benefits	$	15	$	16
Employee compensation and benefits	267		227
Pension plans in which projected benefit obligation exceeded plan assets
Projected benefit obligation	$	1,202	$	1,083
Fair value of plan assets	920		840
Pension plans in which accumulated benefit obligation exceeded plan assets
Accumulated benefit obligation	$	1,139	$	1,037
Fair value of plan assets	920		840

Schedule of Allocation of Plan Assets [Table Text Block]

The following table sets forth the fair values of assets held by our international pension plans by level within the fair value hierarchy.



Millions of dollars	Level 1		Level 2		Level 3		Total
Cash and equivalents	$	—	$	11	$	—	$	11
Common/collective trust funds (a)
Equity funds (b)	—		204		—		204
Bond funds (c)	—		323		46		369
Alternatives funds (d)	—		184		—		184
Real estate funds (e)	—		98		28		126
Other assets	7		22		17		46
Fair value of plan assets at December 31, 2017	$	7	$	842	$	91	$	940

Cash and equivalents	$	—	$	49	$	—	$	49
Common/collective trust funds (a)
Equity funds (b)	—		197		—		197
Bond funds (c)	—		232		44		276
Alternatives fund (d)	—		221		—		221
Real estate funds (e)	—		36		35		71
Other assets	5		20		26		51
Fair value of plan assets at December 31, 2016	$	5	$	755	$	105	$	865

(a) Common/collective trust funds are valued at the net asset value of units held by the plans at year-end.

(b) Strategy is to invest in diversified funds of global common stocks.

(c) Strategy is to invest in diversified funds of fixed income securities of varying geographies and credit quality and whose cash flows approximate the maturities of the benefit obligation.

(d) Strategy is to invest in a fund of diversifying investments, including but not limited to reinsurance, commodities and currencies.

(e) Strategy is to invest in diversified funds of real estate investment trusts and private real estate.

Schedule of Assumptions Used [Table Text Block]

Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension plans at December 31 were as follows:



	2017	2016
Discount rate	2.8%	2.9%
Rate of compensation increase	5.5%	4.8%

Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international pension plans for the years ended December 31 were as follows:



	2017	2016	2015
Discount rate	2.9%	4.2%	4.1%
Expected long-term return on plan assets	4.2%	5.3%	5.9%
Rate of compensation increase	4.8%	5.4%	5.3%

Description of Company and Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) Division	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments \| Division		2
Goodwill [Line Items]
Number of Businesses Acquired		3
Goodwill, Impairment Loss		$ 0	$ 0	$ 0
Research and Development [Abstract]
Research and development costs		$ 360,000,000	329,000,000	487,000,000
Cash and Cash Equivalents [Abstract]
Cash equivalents, maximum maturity (in months)		3 months
Goodwill [Roll Forward]
Goodwill	$ 2,693,000,000	$ 2,414,000,000	2,385,000,000
Current year acquisitions		285,000,000	31,000,000
Purchase price adjustments for previous acquisitions		(6,000,000)	(2,000,000)
Goodwill, Transfers			0
Goodwill		$ 2,693,000,000	$ 2,414,000,000	$ 2,385,000,000
Income Taxes [Abstract]
United States statutory rate		35.00%	35.00%	35.00%
Minimum
Finite-lived intangible assets [Abstract]
Useful life of finite-lived intangible assets (in years)		1 year
Maximum
Finite-lived intangible assets [Abstract]
Useful life of finite-lived intangible assets (in years)		15 years
Completion and Production
Goodwill [Roll Forward]
Goodwill	1,922,000,000	$ 1,679,000,000	$ 1,634,000,000
Current year acquisitions		249,000,000	31,000,000
Purchase price adjustments for previous acquisitions		(6,000,000)	(2,000,000)
Goodwill, Transfers			16,000,000
Goodwill		1,922,000,000	1,679,000,000	$ 1,634,000,000
Drilling and Evaluation
Goodwill [Roll Forward]
Goodwill	$ 771,000,000	735,000,000	751,000,000
Current year acquisitions		36,000,000	0
Purchase price adjustments for previous acquisitions		0	0
Goodwill, Transfers			(16,000,000)
Goodwill		$ 771,000,000	$ 735,000,000	$ 751,000,000
Subsequent Event [Member]
Income Taxes [Abstract]
United States statutory rate	21.00%

Business Segment and Geographic Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2017 Division Countries	Dec. 31, 2016 Countries	Dec. 31, 2015
Segment Reporting Information [Line Items]
Number of business segments \| Division	2
Maximum Percentage Revenue from One Geographic Segment	10.00%	10.00%
Maximum Percentage Property Plant and Equipment from One Geographic Segment	10.00%	10.00%
Number of Countries Exceed Revenue Threshold	1	1
Number of Countries Exceed Property Plant and Equipment Threshold	1	1
Property, Plant and Equipment [Member] \| UNITED STATES
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	56.00%	50.00%
Sales Revenue, Net [Member] \| UNITED STATES
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	53.00%	41.00%	44.00%

Business Segment and Geographic Information (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Baker Hughes Contract Termination Fee

$ 3,500

Total charges related to Baker Hughes acquisition

464

$ 8,521

8,532

Revenue:

20,620

15,887

$ 23,633

1,362

(6,778)

(165)

Interest expense, net of interest income

^[1]

647

3,357

2,177

(593)

(639)

(447)

Other, net

(87)

(208)

(324)

Income (loss) from continuing operations before income taxes

682

(7,625)

(936)

1,373

798

2,184

1,556

1,503

1,835

25,085

27,000

Completion and Production

647

3,357

2,177

Revenue:

13,077

8,882

13,682

1,621

107

1,069

1,111

500

1,526

953

900

1,160

12,276

10,349

2,100

1,100

Drilling and Evaluation

Revenue:

7,543

7,005

9,951

718

794

1,519

261

297

650

563

569

638

7,837

8,473

1,200

1,000

Shared assets

2,913

3,371

Total operations

2,339

901

2,588

Corporate and other

^[2]

(330)

(4,322)

(576)

2,059

4,807

VENEZUELA

^[1]

647

North America [Member]

11,564

6,770

10,856

4,922

4,431

Latin America [Member]

2,116

1,860

3,149

Europe/ Africa/ CIS [Member]

945

1,068

2,781

2,993

4,175

Middle East/Asia [Member]

1,098

1,253

4,159

4,264

$ 5,453

$ 1,556

$ 1,780

[1]

[2]

Includes merger-related costs for the periods presented, including a $3.5 billion termination fee and an aggregate $464 million of charges for the reversal of assets held for sale accounting during the year ended December 31, 2016.

Receivables (Details)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2017

USD ($)

Countries

Customers

Jun. 30, 2017

USD ($)

Jun. 30, 2016

USD ($)

Dec. 31, 2017

USD ($)

Countries

Customers

Dec. 31, 2016

USD ($)

Countries

Customers

Dec. 31, 2015

USD ($)

Venezuela trade receivables exchanged for promissory note

$ 200

Pre-tax loss on promissory note

$ 262

148

Maximum Percentage Gross Trade Receivables From One Geographic Segment

^[1]

$ 647

$ 3,357

$ 2,177

10.00%

Maximum Percentage Gross Trade Receivables From One Customer

10.00%

Allowance for Doubtful Accounts Receivable [Roll Forward]

Balance at Beginning of Period

$ 175

$ 145

137

Charged to Costs and Expenses

568

Write-Offs

(18)

(20)

(36)

Balance at End of Period

$ 725

$ 175

$ 145

NumberOfCountriesExceedReceivablesThreshold | Countries

NumberOfCustomersExceedReceivablesThreshold | Customers

Venezuela Net Investment

$ 202

Geographic Concentration Risk | UNITED STATES | Accounts Receivable

Concentration Risk, Percentage (in hundredths)

42.00%

27.00%

VENEZUELA

Venezuela promissory note, carrying value

Accounts Receivable, Net

117

$ 117

$ 610

$ 70

Venezuela aggregate charges

385

Assets, Fair Value Adjustment

Allowance for Doubtful Accounts Receivable, Write-offs

308

Allowance for Doubtful Accounts Receivable [Roll Forward]

^[1]

647

Venezuela promissory note, par value

175

$ 200

175

VENEZUELA | Accounts Receivable

Concentration Risk, Percentage (in hundredths)

15.00%

Other assets | VENEZUELA

Venezuela promissory note, carrying value

$ 32

[1]

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
LIFO method related items [Abstract]
LIFO inventory amount	$ 177	$ 133
Inventory, LIFO reserve	31	16
Inventory, net [Abstract]
Finished products and parts	1,547	1,388
Raw materials and supplies	703	778
Work in process	146	109
Total	2,396	2,275
Obsolescence reserves	$ 276	$ 263

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 20,770	$ 19,730
Accumulated depreciation	12,249	11,198
Net property, plant and equipment	8,521	8,532
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 3,460	$ 3,399
Building and Building Improvements [Member] \| 1 - 10 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	11.00%	11.00%
Building and Building Improvements [Member] \| 11 - 20 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	42.00%	42.00%
Building and Building Improvements [Member] \| 21 - 30 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	22.00%	22.00%
Building and Building Improvements [Member] \| 31 - 40 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	25.00%	25.00%
Land
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 248	$ 228
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 17,062	$ 16,103
Machinery, equipment and other \| 1 - 5 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	35.00%	34.00%
Machinery, equipment and other \| 6 - 10 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	56.00%	57.00%
Machinery, equipment and other \| 11 - 20 years
Property Plant Equipment Useful Lives Total Depreciated Percentages [Abstract]
Ratio of depreciation by useful asset life over total depreciation of asset (in hundredths)	9.00%	9.00%
Minimum \| Building and Building Improvements [Member] \| 1 - 10 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	1 year
Minimum \| Building and Building Improvements [Member] \| 11 - 20 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	11 years
Minimum \| Building and Building Improvements [Member] \| 21 - 30 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	21 years
Minimum \| Building and Building Improvements [Member] \| 31 - 40 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	31 years
Minimum \| Machinery, equipment and other \| 1 - 5 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	1 year
Minimum \| Machinery, equipment and other \| 6 - 10 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	6 years
Minimum \| Machinery, equipment and other \| 11 - 20 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	11 years
Maximum \| Building and Building Improvements [Member] \| 1 - 10 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	10 years
Maximum \| Building and Building Improvements [Member] \| 11 - 20 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	20 years
Maximum \| Building and Building Improvements [Member] \| 21 - 30 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	30 years
Maximum \| Building and Building Improvements [Member] \| 31 - 40 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	40 years
Maximum \| Machinery, equipment and other \| 1 - 5 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	5 years
Maximum \| Machinery, equipment and other \| 6 - 10 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	10 years
Maximum \| Machinery, equipment and other \| 11 - 20 years
Property, Plant and Equipment [Line Items]
Property, plant, and equipment useful lives	20 years

Debt (Details) - USD ($)	3 Months Ended		12 Months Ended
Debt (Details) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Jul. 21, 2015
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities			$ 10,942,000,000	$ 12,384,000,000
Long-term debt			10,430,000,000	12,214,000,000
Debt Instrument, Unamortized Discount			$ (98,000,000)	(110,000,000)
Debt instrument call feature description			We may redeem all of our senior notes from time to time or all of the notes of each series at any time at the applicable redemption prices, plus accrued and unpaid interest.
Early Repayment of Senior Debt		$ 1,400,000,000
Gain (Loss) on Extinguishment of Debt			$ 104,000,000
Line of credit facility, maximum borrowing capacity					$ 3,000,000,000
Long-term Debt, Current Maturities			440,000,000
Line of Credit Facility, Remaining Borrowing Capacity			3,000,000,000	3,000,000,000
Short-term borrowings and current maturities of long-term debt			512,000,000	170,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two			30,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three			26,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four			709,000,000
Long-term Debt, Maturities Repayments of Principal in Year Five			14,000,000
Senior notes due November 2045 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 2,000,000,000	$ 2,000,000,000
Interest rate (in hundredths)			5.00%	5.00%
Maturity date			November 2045	November 2045
Senior Notes due November 2025 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 2,000,000,000	$ 2,000,000,000
Interest rate (in hundredths)			3.80%	3.80%
Maturity date			November 2025	November 2025
Senior notes due August 2023
Debt Instrument [Line Items]
Long-term debt			$ 1,100,000,000	$ 1,100,000,000
Interest rate (in hundredths)			3.50%	3.50%
Maturity date			August 2023	August 2023
Senior Notes due November 2035 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 1,000,000,000	$ 1,000,000,000
Interest rate (in hundredths)			4.85%	4.85%
Maturity date			November 2035	November 2035
Senior notes due September 2019
Debt Instrument [Line Items]
Long-term debt		1,000,000,000	$ 0	$ 1,000,000,000
Interest rate (in hundredths)			6.15%	6.15%
Maturity date			September 2019	September 2019
Senior notes due September 2039
Debt Instrument [Line Items]
Long-term debt			$ 1,000,000,000	$ 1,000,000,000
Interest rate (in hundredths)			7.45%	7.45%
Maturity date			September 2039	September 2039
Senior notes due August 2043
Debt Instrument [Line Items]
Long-term debt			$ 900,000,000	$ 900,000,000
Interest rate (in hundredths)			4.75%	4.75%
Maturity date			August 2043	August 2043
Senior notes due September 2038
Debt Instrument [Line Items]
Long-term debt			$ 800,000,000	$ 800,000,000
Interest rate (in hundredths)			6.70%	6.70%
Maturity date			September 2038	September 2038
Senior notes due November 2021
Debt Instrument [Line Items]
Long-term debt			$ 500,000,000	$ 500,000,000
Interest rate (in hundredths)			3.25%	3.25%
Maturity date			November 2021	November 2021
Senior notes due November 2041
Debt Instrument [Line Items]
Long-term debt			$ 500,000,000	$ 500,000,000
Interest rate (in hundredths)			4.50%	4.50%
Maturity date			November 2041	November 2041
Senior notes due August 2018
Debt Instrument [Line Items]
Long-term debt			$ 400,000,000	$ 400,000,000
Interest rate (in hundredths)			2.00%	2.00%
Maturity date			August 2018	August 2018
Senior notes due September 2018
Debt Instrument [Line Items]
Long-term debt		$ 400,000,000	$ 0	$ 400,000,000
Interest rate (in hundredths)			5.90%	5.90%
Maturity date			September 2018	September 2018
Senior debentures due August 2096
Debt Instrument [Line Items]
Long-term debt			$ 300,000,000	$ 300,000,000
Interest rate (in hundredths)			7.60%	7.60%
Debt instruments non-call feature description			may not be redeemed prior to maturity
Maturity date			August 2096	August 2096
Senior debentures due February 2021
Debt Instrument [Line Items]
Long-term debt			$ 185,000,000	$ 185,000,000
Interest rate (in hundredths)			8.75%	8.75%
Maturity date			February 2021	February 2021
Senior notes due February 2027 [Member] [Domain]
Debt Instrument [Line Items]
Long-term debt			$ 104,000,000	$ 104,000,000
Interest rate (in hundredths)			6.75%	6.75%
Maturity date			February 2027	February 2027
Senior notes due May 2017
Debt Instrument [Line Items]
Long-term debt			$ 0	$ 45,000,000
Interest rate (in hundredths)			7.53%	7.53%
Repayments of Senior Debt	$ 45,000,000
Maturity date			May 2017	May 2017
Other Debt Obligations [Member]
Debt Instrument [Line Items]
Long-term debt			$ 251,000,000	$ 260,000,000

Commitments and Contingencies (Details) $ in Millions	12 Months Ended
Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2017 USD ($) Class_Actions
Loss Contingencies [Line Items]
Payments for Legal Settlements	$ 54
Litigation Settlement, Amount Awarded to Other Party	$ 100
Securities and related litigation
Loss Contingencies [Line Items]
Number of similar class action lawsuits that were later consolidated into one suit \| Class_Actions	20

Commitments and Contingencies (Environmental) (Details) $ in Millions	Dec. 31, 2017 USD ($) Superfund_Sites	Dec. 31, 2016 USD ($)
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Accrued liabilities for environmental matters	$ 48	$ 50
Superfund Sites [Member]
Accrual for Environmental Loss Contingencies Disclosure [Abstract]
Number of superfund sites \| Superfund_Sites	8
Accrual for site contingency	$ 5

Commitments and Contingencies (Guarantee Arrangements) (Details) $ in Billions	Dec. 31, 2017 USD ($)
Financial agreements
Guarantee arrangements [Abstract]
Guarantee arrangements outstanding	$ 1.8

Commitments and Contingencies (Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Total rentals, net of sublease rentals	$ 574	$ 587	$ 875
Future total rentals on noncancellable operating leases	720
2018	166
2019	135
2020	100
2021	71
2022	54
Thereafter	$ 194

Income Taxes (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Current income taxes:

Current Federal Tax Expense (Benefit)

$ 40

$ 737

$ 635

Current Foreign Tax Expense (Benefit)

(423)

(415)

(636)

Current State Tax Expense (Benefit)

(14)

Total current

397

(357)

(50)

Deferred income taxes:

Federal

(678)

1,343

(18)

Foreign

(31)

262

State

(25)

(20)

Total deferred

(734)

1,501

224

Income tax benefit (provision)

(1,131)

1,858

274

The United States and foreign components of income from continuing operations before income taxes [Abstract]

United States

694

(6,636)

(1,560)

Foreign

(12)

(989)

624

Income (loss) from continuing operations before income taxes

$ 682

$ (7,625)

$ (936)

Reconciliations between the actual provision for income taxes on continuing operations [Abstract]

United States statutory rate

35.00%

Impact of U.S. tax reform

113.00%

0.00%

Venezuela receivables adjustments

36.60%

(0.00%)

(7.50%)

Impact of foreign income taxed at different rates

(18.30%)

(3.20%)

17.00%

Valuation allowance against tax assets

(6.20%)

(2.10%)

(8.30%)

Undistributed foreign earnings

3.80%

(5.10%)

0.00%

Adjustments of prior year taxes

(2.30%)

0.20%

1.30%

State income taxes

1.70%

1.00%

2.00%

Domestic manufacturing deduction

0.00%

(1.30%)

0.00%

Non-deductible acquisition costs

0.00%

0.60%

(4.50%)

Other items, net

2.50%

(0.70%)

(5.70%)

Total effective tax rate on continuing operations

165.80%

24.40%

29.30%

Net operating loss carryforwards

^[1]

$ 647

$ 3,357

$ 2,177

Gross deferred tax assets:

$ 1,370

1,370

1,647

Foreign tax credit carryforwards

828

648

Employee compensation and benefits

263

352

Accrued Liabilities

325

Other

416

536

Total gross deferred tax assets

2,974

3,508

Gross deferred tax liabilities:

Depreciation and amortization

315

585

Deferred Tax Liabilities, Undistributed Foreign Earnings

242

406

Other

145

Total gross deferred tax liabilities

613

1,136

Valuation allowances

1,173

453

Net deferred income tax asset

1,188

1,919

Unrecognized Tax Benefits

Beginning Balance

$ 333

^[2],[3]

427

^[3]

322

314

Change in prior year tax positions

(108)

(33)

Change in prior year tax positions

Change in current year tax positions

129

Cash settlements with taxing authorities

(6)

(62)

(16)

Lapse of statute of limitations

(4)

(6)

(5)

Ending balance

333

^[2],[3]

333

^[2],[3]

427

^[3]

322

Interest and Penalties

Beginning balance

$ 60

Change in prior year tax positions

Change in current year tax positions

Cash settlements with taxing authorities

(8)

(15)

Lapse of statute of limitations

(3)

(1)

(2)

Ending balance

$ 47

Remaining balance if resolved in our favor would positively impact the effective tax rate

319

257

Portion of unrecognized tax benefits that could be resolved within the next 12 months

Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount

283

770

Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount

305

Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability

130

Tax Credit Carryforward, Valuation Allowance

575

Other Deductions or Allowable Credits

Domestic Tax Authority [Member]

Gross deferred tax liabilities:

Deferred Tax Liabilities, Undistributed Foreign Earnings

435

Foreign Country

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

1,400

Years 2018-2022 [Domain]

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

161

Years 2023-2027 [Domain]

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

160

Deferred Tax Assets, Tax Credit Carryforwards, Research and Foreign That Expire

911

Years 2028-2037 [Domain]

Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration

693

Deferred Tax Assets, Tax Credit Carryforwards, Research and Foreign That Expire

102

VENEZUELA

Reconciliations between the actual provision for income taxes on continuing operations [Abstract]

All Other Countries [Domain]

^[1]

647

Interest and Penalties

Remaining balance if resolved in our favor would positively impact the effective tax rate

$ 9

$ 84

Subsequent Event [Member]

Reconciliations between the actual provision for income taxes on continuing operations [Abstract]

United States statutory rate

21.00%

[1]	Impairments and other charges are as follows:-For the year ended December 31, 2017, the aggregate charge of $647 million represents a fair market value adjustment on our existing promissory note with our primary customer in Venezuela and a full reserve against our other accounts receivable with this customer. -For the year ended December 31, 2016, includes $2.1 billion attributable to Completion and Production, $1.2 billion attributable to Drilling and Evaluation and $10 million attributable to Corporate and other. -For the year ended December 31, 2015, includes $1.1 billion attributable to Completion and Production, $1.0 billion attributable to Drilling and Evaluation and $88 million attributable to Corporate and other.
[2]	Includes $23 million that could be resolved within the next 12 months.
[3]	Includes $9 million as of December 31, 2017 and $84 million as of December 31, 2016 in foreign unrecognized tax benefits that would give rise to a United States tax credit. As of December 31, 2017 and December 31, 2016, approximately $319 million and $257 million, respectively, of unrecognized tax benefits would positively impact the effective tax rate and be recognized as additional tax benefits in our statement of operations if resolved in our favor.

Shareholders' Equity (Shareholders' Equity, Accumulated Other Comprehensive Loss, Common Stock, and Preferred Stock) (Details) - USD ($)

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Class of Stock [Line Items]

Stock Repurchased During Period, Shares

Issued

1,069,000,000

1,070,000,000

In treasury

(196,000,000)

(204,000,000)

Total shares of common stock outstanding

873,000,000

866,000,000

Defined benefit and other postretirement liability adjustments

^[1]

$ (334,000,000)

$ (313,000,000)

Cumulative translation adjustment

(80,000,000)

Other

(55,000,000)

(61,000,000)

Total accumulated other comprehensive loss

(469,000,000)

(454,000,000)

Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

Stock authorized to repurchase

$ 5,700,000,000

Number of shares of common stock repurchased from inception (in shares)

201,000,000

Approximate value of shares of common stock repurchased from inception

$ 8,400,000,000

Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

Number of shares of preferred stock that are authorized for issuance (in shares)

5,000,000

Number of shares preferred stock that are issued at period end (in shares)

Foreign Plan [Member]

Class of Stock [Line Items]

Net actuarial losses

$ 295,000,000

$ 290,000,000

[1]	Included net actuarial losses for our international pension plans of $295 million at December 31, 2017 and $290 million at December 31, 2016.

Stock-based Compensation (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) Offering_Period $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Proceeds from issuance of common stock \| $	$ 158	$ 186	$ 167
Stock Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost \| $	290	262	294
Tax benefit \| $	(64)	(77)	(99)
Stock-based compensation cost, net of tax \| $	$ 226	$ 185	195
Number of shares reserved for issuance to recipient (in shares)	206.0
Number of shares available for future grant (in shares)	19.0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration from date of award (in years)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period	20.6
Granted	2.5
Exercised	(1.4)
Forfeited/expired	(0.7)
Outstanding at end of period	21.0	20.6
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding- weighted average exercise price at beginning of period (in dollars per share) \| $ / shares	$ 44.01
Granted \| $ / shares	48.39
Exercised \| $ / shares	36.60
Forfeited/expired \| $ / shares	47.99
Outstanding- weighted average price per share end of period (in dollars per share) \| $ / shares	$ 44.92	$ 44.01
Weighted Average Remaining Contractual Term (years)	6 years 3 months 4 days
Aggregate Intrinsic Value \| $	$ 138
Number of shares exercisable at the end of the period	15.0
Weighted Average Exercise Price per Share, Exercisable at the end of the period \| $ / shares	$ 45.04
Weighted Average Remaining Contractual Term (years), Exercisable at the end of the period	5 years 4 months 20 days
Aggregate Intrinsic Value, Exercisable at the end of the Period \| $	$ 105
Intrinsic value of stock options exercised during the period \| $	21	$ 25	9
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Unrecognized compensation cost, non vested awards at period end \| $	$ 48
Weighted average period unrecognized compensation costs to be recognized (in years)	2 years
Proceeds from issuance of common stock \| $	$ 158	$ 186	$ 167
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected term	5 years 2 months 26 days	5 years 2 months 15 days	5 years 1 month 27 days
Expected volatility	32.00%	37.00%	39.00%
Weighted average grant-date fair value per share \| $ / shares	$ 13.11	$ 12.33	$ 13.47
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	1.28%	1.35%	1.51%
Risk-free interest rate	1.79%	1.13%	1.43%
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	1.72%	2.46%	1.85%
Risk-free interest rate	2.14%	1.84%	1.72%
Exercise of stock options [Member]
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Proceeds from issuance of common stock \| $	$ 53	$ 80	$ 23
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance to recipient (in shares)	74.0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected volatility	29.00%	36.00%	35.00%
Expected dividend yield	1.51%	1.87%	1.82%
Risk-free interest rate	0.86%	0.25%	0.01%
Weighted average grant-date fair value per share \| $ / shares	$ 9.95	$ 8.61	$ 8.62
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares available for future issuance through the plan	28.0
Employee Stock Purchase Plan [Abstract]
Percentage of earnings eligible employees may have withheld under the employee stock purchase plan	10.00%
Number of offering periods \| Offering_Period	4
Number of months each offering period lasts beginning January 1 and July 1 each year (in months)	3 months
Percentage of the lower of fair market value of the unit on the commencement date or the fair market value of unit on the last trading day of the offering period	85.00%
Number of shares sold through the plan (in shares)	46.0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration from date of award (in years)	5 years
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Unrecognized compensation cost, non vested awards at period end \| $	$ 448
Weighted average period unrecognized compensation costs to be recognized (in years)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted \| $ / shares	$ 45.99	$ 42.87	$ 43.24
Total fair value of shares vested during the period \| $	$ 204	$ 223	$ 211
Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares at the beginning of the period	15.1
Granted	5.6
Vested	(4.5)
Forfeited	(1.1)
Non vested shares at the end of the period	15.1	15.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant-Date Fair Value per Share, Non vested shares at the beginning of the period \| $ / shares	$ 44.96
Vested \| $ / shares	44.40
Forfeited \| $ / shares	46.25
Weighted Average Grant-Date Fair Value Per Share, Nonvested shares at the end of the period \| $ / shares	$ 45.42	$ 44.96

Income per Share (Details) - shares shares in Millions	12 Months Ended
Income per Share (Details) - shares shares in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	870	861	853
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0	0
Weighted Average Number of Shares Outstanding, Diluted	870	861	853
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities During Period	6	11	10
Ordinarily Dilutive Shares	2	1	2
Antidilutive securities excluded from the computation of diluted income per share (shares)	8	12	12

Financial Instruments and Risk Management (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($) Debt_Instrument	Dec. 31, 2016 USD ($)	Jun. 30, 2016 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment maturity range (current)		1 year
Available-for-sale Securities, Debt Maturities, Date		Nov. 01, 2020
Foreign Currency Derivatives [Abstract]
Maximum term of currency derivative instruments (in years)		1 year
Interest Rate Derivatives [Abstract]
Number of debt instruments with related interest rate swaps \| Debt_Instrument		1
Long-term Debt, Excluding Current Maturities		$ 10,430	$ 12,214
Early Repayment of Senior Debt	$ 1,400
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt		0	0
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Fair value of marketable securities		32	70
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Fair value of marketable securities		0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Fair value of marketable securities		106	92
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt		12,457	13,565
Estimate of Fair Value, Fair Value Disclosure \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt		3,285	753
Estimate of Fair Value, Fair Value Disclosure \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt		9,172	12,812
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount		10,942	12,384
Other current assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale securities, current		69
Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale securities, noncurrent		37
Interest Rate Swap [Member]
Foreign Currency Derivatives [Abstract]
Derivative, Notional Amount		100
Foreign Exchange Contract [Member]
Foreign Currency Derivatives [Abstract]
Derivative, Notional Amount		633	603
VENEZUELA
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Venezuela promissory note, carrying value		32	$ 70
Venezuela promissory note, par value		175		$ 200
VENEZUELA \| Other assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Venezuela promissory note, carrying value		$ 32

Financial Instruments and Risk Management (Credit Risk) (Details) - Accounts Receivable	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Geographic Concentration Risk \| United States
Concentration Risk [Line Items]
Concentration Risk, Percentage (in hundredths)	42.00%	27.00%
VENEZUELA
Concentration Risk [Line Items]
Concentration Risk, Percentage (in hundredths)		15.00%

Retirement Plans (Retirement Plans, Funded Status) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Defined Benefit Plan Disclosure [Line Items]

Expense for the defined contribution plans for continuing operations

$ 173

$ 111

$ 288

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Benefit obligation at end of period

1,200

1,100

Funded status at end of period

940

865

280

241

Amounts recognized on the Consolidated Balance Sheets

Accrued employee compensation and benefits

Employee compensation and benefits

267

227

Pension plans in which projected benefit obligation exceeded plan assets

Projected benefit obligation

1,202

1,083

Fair value of plan assets

920

840

Pension plans in which accumulated benefit obligation exceeded plan assets

Accumulated benefit obligation

1,139

1,037

Fair value of plan assets

920

840

Foreign Pension Plans, Defined Benefit

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Cash and Cash Equivalents [Member]

940

865

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Equity funds (b)

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Bond funds (c)

^[1],[2]

204

197

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | alternatives fund [Domain]

^[1],[3]

369

276

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Real Estate Funds [Member]

^[1],[4]

184

221

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Other assets

^[1],[5]

126

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | Cash and Cash Equivalents [Member]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | Equity funds (b)

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | Bond funds (c)

^[1],[2]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | alternatives fund [Domain]

^[1],[3]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | Real Estate Funds [Member]

^[1],[4]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 1 | Other assets

^[1],[5]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | Cash and Cash Equivalents [Member]

842

755

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | Equity funds (b)

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | Bond funds (c)

^[1],[2]

204

197

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | alternatives fund [Domain]

^[1],[3]

323

232

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | Real Estate Funds [Member]

^[1],[4]

184

221

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 2 | Other assets

^[1],[5]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | Cash and Cash Equivalents [Member]

105

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | Equity funds (b)

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | Bond funds (c)

^[1],[2]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | alternatives fund [Domain]

^[1],[3]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | Real Estate Funds [Member]

^[1],[4]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Foreign Pension Plans, Defined Benefit | Level 3 | Other assets

^[1],[5]

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]