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44 B a k e r H u g h e s I n c o r p o r a t e d
The following table presents the details of “Corporate
and Other” segment loss for the years ended December 31:
2010 2009 2008
Corporate and
other expenses $ (222) $ (298) $ (240)
Interest expense (144) (131) (89)
Interest and
dividend income 3 6 27
Gain (loss) on
investments 6 4 (25)
Acquisition-related
costs (134) (18) –
Gain on sale of
product line – – 28
Litigation settlement – – (62)
Total $ (491) $ (437) $ (361)
The following table presents the details of “Corporate
and Other” total assets at December 31:
2010 2009 2008
Cash and other assets $ 1,391 $ 1,266 $ 1,684
Accounts receivable 28 17 20
Current deferred
tax asset – 1 2
Property, plant
and equipment 63 10 28
Other noncurrent assets 278 275 141
Total $ 1,760 $ 1,569 $ 1,875
The following table presents geographic consolidated
revenues for the years ended December 31:
2010 2009 2008
United States $ 6,043 $ 3,091 $ 4,512
Canada and other 1,186 493 666
North America 7,229 3,584 5,178
Latin America 1,583 1,134 1,127
Europe/Africa/
Russia Caspian 3,218 2,925 3,386
Middle East/Asia Pacific 2,384 2,021 2,173
Total $ 14,414 $ 9,664 $ 11,864
The following table presents consolidated revenues for
each group of similar products and services for the years
ended December 31:
2010 2009 2008
Completion and
Production $ 8,547 $ 4,454 $ 5,094
Drilling and Evaluation 4,896 4,516 5,985
Industrial Services
and Other 971 694 785
Total $ 14,414 $ 9,664 $ 11,864
The following table presents net property, plant and equip-
ment by its geographic location at December 31:
2010 2009 2008
United States $ 3,023 $ 1,377 $ 1,356
Canada and other 467 105 104
North America 3,490 1,482 1,460
Latin America 788 354 259
Europe/Africa/
Russia Caspian 1,118 809 679
Middle East/Asia Pacific 914 516 435
Total $ 6,310 $ 3,161 $ 2,833
NOTE 5. 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. Addi-
tionally, compensation cost is recognized based on awards ulti-
mately 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, if
necessary, in subsequent periods to reflect actual forfeitures.
The following table summarizes stock-based compensation
costs for the years ended December 31, 2010, 2009 and 2008.
There were no stock-based compensation costs capitalized as
the amounts were not material.
2010 2009 2008
Stock-based
compensation costs $ 87 $ 88 $ 60
Tax benefit (18) (15) (11)
Stock-based
compensation costs,
net of tax $ 69 $ 73 $ 49
For our stock options and restricted stock awards and
units, we currently have 25 million shares authorized for issu-
ance and as of December 31, 2010, approximately 8.9 million
shares were available for future grants. Our policy is to issue
new shares for exercises of stock options, when restricted
stock awards are granted, at vesting of restricted stock units,
and issuances under the employee stock purchase plan.