Smith International, Inc., together with its subsidiaries, provides products and services that are used in the drilling, completion, and production phases of oil and natural gas exploration and development activities worldwide. Smith International, Inc. operates in three segments: M-I SWACO, Smith Oilfield, and Distribution. The M-I SWACO segment supplies drilling fluid systems and oilfield production chemicals; offers various waste management equipment and services; and provides completion fluids and related tools. The Smith Oilfield segment offers products and services used in oil and natural gas development activities. Smith International, Inc. designs, manufactures, and markets drill bits and borehole enlargement tools; supplies drilling tools and services that include directional drilling systems, measurement-while-drilling and logging-while-drilling services, tubulars, completion services, and downhole solutions; and provides completion and production related operations, which include coiled tubing and cased-hole wireline services, packers, and liner hangers. Smith International, Inc. offers its products and services to independent oil companies, national oil companies, and independent drilling contractors through its direct sales force, as well as through independent sales agents, distributors, or joint ventures. Smith International, Inc. was founded in 1937 and is headquartered in Houston, Texas.