35 new in the latest 10-Q
Paragraphs with nothing like them in last year's 10-K
No new paragraphs in Risk Factors, or fewer than two 10-Ks to compare.
Paragraphs in the 10-Q filed Oct 23, 2026 that were not in the one before
35 paragraphs in the 10-Q filed Oct 23, 2026 with nothing like them in the 10-Q filed Jul 24, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
$ 107 million of severance costs associated with the rationalization of our global headcount, $ 25 million of inventory costs and
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During the nine months ended September 30, 2026, we recorded a pre-tax charge of $ 12 million. The charge primarily reflected $ 107 million in severance costs, $ 25 million of inventory costs and write-downs, and $ 14 million of fixed and other assets write-offs. These charges were substantially offset by gains of $ 100 million, primarily related to a $ 54 million gain resulting from changes in our ownership interest in an equity investment and a $ 36 million gain resulting from the sale of a portion of our shares in an equity investment, and $ 51 million of other gains, primarily due to a government refund recovery. During the three months ended September 30, 2025, we recorded a pre-tax charge of $ 392 million primarily related to $169 million of severance costs, $ 115 million of fixed and other assets write-offs primarily related to our North America Land operations, and $ 96 million in impairment of assets held for sale related to our chemical business, partially offset by a $ 10 million release of cybersecurity related accruals and a $ 6 million gain on an equity investment. For the nine months ended September 30, 2025, we recorded a pre-tax charge of $ 748 million, which included $ 276 million of severance costs, a $ 200 million impairment of assets held for sale related to our chemical business, $ 115 million of fixed and other assets write-offs, a $ 53 million impairment associated with facility closures and lease terminations, and $ 120 million of other charges, primarily related to increases in legacy environmental remediation cost estimates.
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respectively. No other country accounted for more than 10% of our revenue for those periods.
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2026 and December 31, 2025 were not material to our condensed consolidated financial statements. Revenue recognized during
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of our primary customers in Mexico matured during the third quarter of 2026. Accordingly, there were no outstanding notional
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Show the other 30
amounts under these CDSs as of September 30, 2026, compared to $ 592 million as of December 31, 2025. No country other
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Millions of dollars Common Paid-in Treasury Retained Accumulated Noncontrolling Total Stock Capital in Stock Earnings Other Interest in Shareholders' Excess of Comprehensive Consolidated Equity Par Value Income (Loss) Subsidiaries ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Balance at December 31, 2024 $2,662 $79 $(6,214) $14,332 $(353) $42 $10,548 Comprehensive income (loss): Net income (loss) - - - 204 - (1) 203 Other comprehensive income (loss) - - - - (6) - (6) Cash dividends ($0.17 per share) - - - (147) - - (147) Stock repurchase program - - (252) - - - (252) Stock plans (a) (1) (24) 83 - - - 58 Other - 4 - - - 1 5 Balance at March 31, 2025 $2,661 $59 $(6,383) $14,389 $(359) $42 $10,409 Comprehensive income: Net income - - - 472 - 8 480 Other comprehensive income - - - - 3 - 3 Cash dividends ($0.17 per share) - - - (145) - - (145) Stock repurchase program - - (252) - - - (252) Stock plans (a) - (28) 88 - - - 60 Other - - - - - (8) (8) Balance at June 30, 2025 $2,661 $31 $(6,547) $14,716 $(356) $42 $10,547 Comprehensive income: Net income - - - 18 - 2 20 Other comprehensive income - - - - 2 - 2 Cash dividends ($0.17 per share) - - - (144) - - (144) Stock repurchase program - - (252) - - - (252) Stock plans (a) (2) 43 33 - - - 74 Other - - - - - (1) (1) Balance at September 30, 2025 $2,659 $74 $(6,766) $14,590 $(354) $43 $10,246 (a) In the first, second, and third quarters of 2025, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Our Board of Directors has authorized a program to repurchase our common stock from time to time. We repurchased 7.3 million shares of our common stock under the program during the three months ended September 30, 2026 for $ 252 million. Approximately $ 1.5 billion remained authorized for repurchases under the program as of September 30, 2026. From the inception of this program in February of 2006 through September 30, 2026, we repurchased 342 million shares of our common stock for a total cost of approximately $ 12.6 billion. We repurchased 11.3 million shares of our common stock under the program during the three months ended September 30, 2025 for approximately $ 252 million. Accumulated other comprehensive loss consisted of the following: September 30, December 31, Millions of dollars 2026 2025 ─────────────────────────────────────────────────────────────────────────────────────────────────────── Cumulative translation adjustments $(83) $(81) Defined benefit and other postretirement liability adjustments (223) (245) Other (36) (37) Total accumulated other comprehensive loss $(342) $(363)
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During the third quarter of 2026, oil and natural gas markets remained volatile due to geopolitical developments and
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global economic uncertainty. These factors continued to disrupt global oil supply and contribute to supply constraints.
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increases on to our customers and believe we have effective solutions in place to minimize their operational impact.
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decrease was primarily driven by lower stimulation activity in the region and reduced specialty chemicals in U.S. Land as a
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• We paid $101 million primarily in connection with the purchase of an equity investment.
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authorized for repurchases as of September 30, 2026 and may be used for open market and other share purchases.
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discipline, production optimization, and operational efficiency across both international and North America markets. At the
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same time, efforts to restore production, rebuild inventories and strengthen energy security are expected to drive growth for
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Outside of the Middle East, our international businesses continue to demonstrate strong performance relative to recent
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and generating appropriate returns on our investments. During the third quarter, we re-established our operations in Venezuela
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periodic operational disruptions, persistent inflationary pressures that we expect to continue for some time, reduced activity in
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East markets, the pace and breadth of that recovery remain uncertain and continue to be influenced by geopolitical
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within existing capital budgets. We remain focused on reducing exposure to commoditized activity and differentiating through
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Three Months Ended September 30, 2026 Compared with Three Months Ended September 30, 2025
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In the third quarter of 2026, results in both of our operating segments reflected continued recovery in activity
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following disruptions related to the geopolitical conflict in the Middle East, partially offset by ongoing inflationary pressures on
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2025. This decrease was primarily driven by lower stimulation activity in the region and decreased specialty chemicals in U.S.
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of $107 million recorded in impairments and other charges due to severance costs, inventory costs and write-downs, and fixed
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and other assets write-offs, partially offset by a gain resulting from the sale of a portion of our shares in an equity investment.
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other charges due to severance costs, fixed and other assets write-offs, an impairment of assets held for sale, a reserve release
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Argentina Impairment on Investment. In years 2022, 2023 and 2024, we executed a series of loans to a third party and
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received notes that are to be repaid in U.S. dollars upon maturity or earlier if certain conditions are met. During the three
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Nine Months Ended September 30, 2026 Compared with Nine Months Ended September 30, 2025
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of $12 million in impairments and other charges due to severance costs, inventory costs and write-downs, fixed and other assets
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terminations, a reserve release related to a cybersecurity incident, a gain on an equity investment and other items, primarily
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related to legacy environmental remediation cost estimate increases. See Notes to Condensed Consolidated Financial
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Argentina Impairment on Investment. In years 2022, 2023 and 2024, we executed a series of loans to a third party and
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received notes that are to be repaid in U.S. dollars upon maturity or earlier if certain conditions are met. During the nine months
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