UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
42 rue Saint-Dominique, Paris, France 75007
| (address) |
62 Buckingham Gate, London, United Kingdom SW1E 6AJ
Parkstraat 83, The Hague, The Netherlands 2514 JG
(Addresses of principal executive offices and zip or postal codes)
Registrant’s telephone number in the United States, including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events. |
Schlumberger Limited (“Schlumberger”) has restructured and reorganized to prepare for a new industry future. This new structure is aligned with our customers’ workflows and is directly linked to our corporate strategy, a key element of which is customer collaboration. The new Schlumberger organization consists of four Divisions that combine and integrate our technologies, enhancing the portfolio of capabilities that support the emerging long-term growth opportunities in each of these market segments. The four Divisions are: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. Commencing in the fourth quarter of 2020, the Divisions form the basis of Schlumberger’s segment reporting.
In order to provide additional perspective on this change in segments, Schlumberger has prepared unaudited historical consolidated financial information on the basis of the new reporting structure, as well as supplemental unaudited financial information on a geographical basis. Such information is filed as Exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K should be read in conjunction with Schlumberger’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and its Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2020, June 30, 2020, and September 30, 2020.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
The exhibit listed below is furnished pursuant to Item 9.01 of this Form 8-K.
| 99 | Schlumberger Limited Historical Unaudited Consolidated Financial Information. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SCHLUMBERGER LIMITED |
| /s/ Howard Guild |
| Howard Guild |
| Chief Accounting Officer |
| Date: November 23, 2020 |
Exhibit 99
SCHLUMBERGER LIMITED
HISTORICAL UNAUDITED CONSOLIDATED FINANCIAL INFORMATION
1
SCHLUMBERGER LIMITED
HISTORICAL UNAUDITED CONSOLIDATED FINANCIAL INFORMATION
Schlumberger has restructured and reorganized to prepare for a new industry future. This new structure is aligned with our customers’ workflows and is directly linked to our corporate strategy, a key element of which is customer collaboration.
The new Schlumberger organization consists of four Divisions that combine and integrate our technologies, enhancing the portfolio of capabilities that support the emerging long-term growth opportunities in each of these market segments.
The four Divisions are:
| • | Digital & Integration |
| • | Reservoir Performance |
| • | Well Construction |
| • | Production Systems |
Digital & Integration - Combines our software and seismic businesses with our integrated offering of Asset Performance Solutions (“APS”). APS helps develop or redevelop fields while increasing production, improving cash flow, and extending recovery for our customers by providing fit-for-purpose solutions. Through digital solutions and technologies, this Division supports the future of software, digital infrastructure, connected assets, and data, while enhancing efficiency to improve asset and enterprise-wide performance for our customers.
The primary offerings comprising this Division are: software integrated solutions, multiclient seismic, and Asset Performance Solutions.
Reservoir Performance - Consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance. Reservoir Performance develops and deploys innovative technologies and services to evaluate, intervene and stimulate reservoirs that help customers understand subsurface assets and maximize their value.
The primary offerings comprising this Division are: wireline, testing services, well stimulation, slickline, coiled tubing services and OneStim®.
Well Construction - Combines the full portfolio of products and services to optimize well placement and performance, maximize drilling efficiency, and improve wellbore assurance. Well Construction provides operators and drilling rig manufacturers with services and products related to designing and constructing a well.
The primary offerings comprising this Division are: wellbore drilling (including measurements-while-drilling), drilling fluids, drill bits, drilling tools, integrated drilling services, cementing, pressure control equipment, rotary drilling equipment, and land rigs.
Production Systems - Develops technologies and provides expertise that enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries. Production Systems provides a comprehensive portfolio of equipment and services including subsurface production systems, subsea and surface equipment and services, and midstream production systems.
The primary offerings comprising this Division are: artificial lift, surface systems, valves and process systems, completions equipment, production technology solutions, production facilities, and OneSubsea®.
2
SCHLUMBERGER LIMITED
HISTORICAL UNAUDITED CONSOLIDATED FINANCIAL INFORMATION
Commencing in the fourth quarter of 2020, the Divisions form the basis of Schlumberger’s segment reporting. In order to provide additional perspective on this change in segments, Schlumberger has prepared the accompanying unaudited historical consolidated financial information on the basis of the new reporting structure. Schlumberger has also provided supplemental unaudited financial information on a geographical basis.
The change in segment reporting had no impact on Schlumberger’s consolidated revenue, income before taxes, net income or earnings per share for any period.
3
SCHLUMBERGER LIMITED
UNAUDITED QUARTERLY FINANCIAL INFORMATION
(Stated in Millions)
| Nine Months 2020 | ||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Nine Months | |||||||||||||||||||||||||||||
| Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
|||||||||||||||||||||||||
| Digital & Integration |
$ | 885 | $ | 151 | $ | 619 | $ | 108 | $ | 739 | $ | 202 | $ | 2,243 | $ | 461 | ||||||||||||||||
| Reservoir Performance |
1,969 | 134 | 1,170 | 22 | 1,215 | 103 | 4,354 | 259 | ||||||||||||||||||||||||
| Well Construction |
2,815 | 331 | 2,089 | 180 | 1,835 | 172 | 6,739 | 683 | ||||||||||||||||||||||||
| Production Systems |
1,912 | 191 | 1,557 | 145 | 1,532 | 132 | 5,001 | 468 | ||||||||||||||||||||||||
| Eliminations & other |
(126 | ) | (31 | ) | (79 | ) | (59 | ) | (63 | ) | (34 | ) | (268 | ) | (124 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| 776 | 396 | 575 | 1,747 | |||||||||||||||||||||||||||||
| Corporate & other (1) |
(228 | ) | (169 | ) | (151 | ) | (548 | ) | ||||||||||||||||||||||||
| Interest income (2) |
15 | 7 | 3 | 25 | ||||||||||||||||||||||||||||
| Interest expense (3) |
(129 | ) | (137 | ) | (131 | ) | (397 | ) | ||||||||||||||||||||||||
| Charges & credits |
(8,523 | ) | (3,723 | ) | (350 | ) | (12,596 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| $ | 7,455 | $ | (8,089 | ) | $ | 5,356 | $ | (3,626 | ) | $ | 5,258 | $ | (54 | ) | $ | 18,069 | $ | (11,769 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Full Year 2019 | ||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | 2019 | ||||||||||||||||||||||||||||||||||||
| Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
Revenue | Income (Loss) Before Taxes |
|||||||||||||||||||||||||||||||
| Digital & Integration |
$ | 935 | $ | 188 | $ | 1,017 | $ | 205 | $ | 1,081 | $ | 230 | $ | 1,112 | $ | 259 | $ | 4,145 | $ | 882 | ||||||||||||||||||||
| Reservoir Performance |
2,308 | 221 | 2,409 | 250 | 2,460 | 294 | 2,122 | 227 | 9,299 | 992 | ||||||||||||||||||||||||||||||
| Well Construction |
2,890 | 352 | 2,960 | 337 | 3,021 | 367 | 3,009 | 373 | 11,880 | 1,429 | ||||||||||||||||||||||||||||||
| Production Systems |
1,893 | 173 | 2,030 | 218 | 2,112 | 250 | 2,132 | 206 | 8,167 | 847 | ||||||||||||||||||||||||||||||
| Eliminations & other |
(147 | ) | (26 | ) | (147 | ) | (42 | ) | (133 | ) | (45 | ) | (147 | ) | (59 | ) | (574 | ) | (172 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| 908 | 968 | 1,096 | 1,006 | 3,978 | ||||||||||||||||||||||||||||||||||||
| Corporate & other (1) |
(273 | ) | (238 | ) | (231 | ) | (215 | ) | (957 | ) | ||||||||||||||||||||||||||||||
| Interest income (2) |
10 | 9 | 7 | 7 | 33 | |||||||||||||||||||||||||||||||||||
| Interest expense (3) |
(136 | ) | (146 | ) | (151 | ) | (138 | ) | (571 | ) | ||||||||||||||||||||||||||||||
| Charges & credits |
— | — | (12,692 | ) | (209 | ) | (12,901 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| $ | 7,879 | $ | 509 | $ | 8,269 | $ | 593 | $ | 8,541 | $ | (11,971 | ) | $ | 8,228 | $ | 451 | $ | 32,917 | $ | (10,418 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
4
SCHLUMBERGER LIMITED
UNAUDITED QUARTERLY FINANCIAL INFORMATION
(Stated in Millions)
| Full Year 2018 | ||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | 2018 | ||||||||||||||||||||||||||||||||||||
| Revenue | Income Before Taxes |
Revenue | Income Before Taxes |
Revenue | Income Before Taxes |
Revenue | Income Before Taxes |
Revenue | Income Before Taxes |
|||||||||||||||||||||||||||||||
| Digital & Integration |
$ | 923 | $ | 191 | $ | 940 | $ | 228 | $ | 960 | $ | 222 | $ | 997 | $ | 241 | $ | 3,820 | $ | 882 | ||||||||||||||||||||
| Reservoir Performance |
2,385 | 222 | 2,629 | 331 | 2,699 | 365 | 2,337 | 251 | 10,050 | 1,169 | ||||||||||||||||||||||||||||||
| Well Construction |
2,628 | 351 | 2,743 | 346 | 2,944 | 397 | 2,995 | 371 | 11,310 | 1,465 | ||||||||||||||||||||||||||||||
| Production Systems |
1,993 | 200 | 2,079 | 230 | 2,080 | 221 | 2,016 | 192 | 8,168 | 843 | ||||||||||||||||||||||||||||||
| Eliminations & other |
(100 | ) | 8 | (88 | ) | (40 | ) | (179 | ) | (52 | ) | (166 | ) | (88 | ) | (533 | ) | (172 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| 972 | 1,095 | 1,153 | 967 | 4,187 | ||||||||||||||||||||||||||||||||||||
| Corporate & other (1) |
(224 | ) | (240 | ) | (235 | ) | (238 | ) | (937 | ) | ||||||||||||||||||||||||||||||
| Interest income (2) |
26 | 11 | 8 | 7 | 52 | |||||||||||||||||||||||||||||||||||
| Interest expense (3) |
(131 | ) | (135 | ) | (139 | ) | (132 | ) | (537 | ) | ||||||||||||||||||||||||||||||
| Charges & credits |
— | (184 | ) | — | 43 | (141 | ) | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| $ | 7,829 | $ | 643 | $ | 8,303 | $ | 547 | $ | 8,504 | $ | 787 | $ | 8,179 | $ | 647 | $ | 32,815 | $ | 2,624 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| (1) | Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. |
| (2) | Excludes amounts which are included in the segments’ income (nine months ended September 30, 2020: $1 million; full year 2019: $8 million; full year 2018: $8 million). |
| (3) | Excludes amounts which are included in the segments’ income (nine months ended September 30, 2020: $22 million; full year 2019: $38 million; full year 2018: $38 million). |
5
SCHLUMBERGER LIMITED
UNAUDITED FINANCIAL INFORMATION
(Stated in Millions)
| Full Year 2019 | ||||||||||||||||||||||||
| Revenue | Income (Loss) Before Taxes |
Depreciation and Amortization (4) |
Interest, net (5) | EBITDA (6) | Capital Investments (7) |
|||||||||||||||||||
| Digital & Integration |
$ | 4,145 | $ | 882 | $ | 1,069 | $ | 19 | $ | 1,970 | $ | 1,020 | ||||||||||||
| Reservoir Performance |
9,299 | 992 | 807 | 13 | 1,812 | 569 | ||||||||||||||||||
| Well Construction |
11,880 | 1,429 | 656 | — | 2,085 | 650 | ||||||||||||||||||
| Production Systems |
8,167 | 847 | 390 | (1 | ) | 1,236 | 384 | |||||||||||||||||
| Eliminations & other |
(574 | ) | (172 | ) | 250 | (1 | ) | 77 | 113 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| 3,978 | 3,172 | 30 | 7,180 | 2,736 | ||||||||||||||||||||
| Corporate & other (1) |
(957 | ) | 417 | (540 | ) | |||||||||||||||||||
| Interest income (2) |
33 | |||||||||||||||||||||||
| Interest expense (3) |
(571 | ) | ||||||||||||||||||||||
| Charges & credits |
(12,901 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| $ | 32,917 | $ | (10,418 | ) | $ | 3,589 | $ | 30 | $ | 6,640 | $ | 2,736 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Full Year 2018 | ||||||||||||||||||||||||
| Revenue | Income (Loss) Before Taxes |
Depreciation and Amortization (4) |
Interest, net (5) | EBITDA (6) | Capital Investments (7) |
|||||||||||||||||||
| Digital & Integration |
$ | 3,820 | $ | 882 | $ | 894 | $ | 29 | $ | 1,805 | $ | 1,091 | ||||||||||||
| Reservoir Performance |
10,050 | 1,169 | 850 | 1 | 2,020 | 899 | ||||||||||||||||||
| Well Construction |
11,310 | 1,465 | 713 | — | 2,178 | 769 | ||||||||||||||||||
| Production Systems |
8,168 | 843 | 423 | (1 | ) | 1,265 | 343 | |||||||||||||||||
| Eliminations & other |
(533 | ) | (172 | ) | 237 | 1 | 66 | 139 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 4,187 | 3,117 | 30 | 7,334 | 3,241 | ||||||||||||||||||||
| Corporate & other (1) |
(937 | ) | 439 | (498 | ) | |||||||||||||||||||
| Interest income (2) |
52 | |||||||||||||||||||||||
| Interest expense (3) |
(537 | ) | ||||||||||||||||||||||
| Charges & credits |
(141 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| $ | 32,815 | $ | 2,624 | $ | 3,556 | $ | 30 | $ | 6,836 | $ | 3,241 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (1) | Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. |
| (2) | Excludes amounts which are included in the segments’ income (2019: $8 million; 2018: $8 million.) |
| (3) | Excludes amounts which are included in the segments’ income (2019: $38 million; 2018: $38 million.) |
| (4) | Includes depreciation of property, plant and equipment and amortization of intangible assets, Asset Performance Solutions (“APS”) investments and multiclient data seismic costs. |
| (5) | Excludes interest income and expense recorded at the corporate level. |
| (6) | EBITDA represents income before taxes excluding depreciation and amortization, interest income, interest expense and charges & credits. Management believes that EBITDA is an important profitability measure for Schlumberger and that it allows investors and management to more efficiently evaluate Schlumberger’s operations period over period, and to identify operating trends that could otherwise be masked. EBITDA is also used by management as a performance measure in determining certain incentive compensation. EBITDA should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. |
| (7) | Capital investments includes capital expenditures, APS investments and multiclient seismic data costs capitalized. |
6
SCHLUMBERGER LIMITED
UNAUDITED GEOGRAPHICAL FINANCIAL INFORMATION
(Stated in Millions)
| Full Year 2019 | ||||||||||||||||||||
| Revenue | Income (Loss) Before Taxes |
Depreciation and Amortization (4) |
Interest, net (5) | EBITDA (6) | ||||||||||||||||
| International |
$ | 22,242 | $ | 3,645 | $ | 2,004 | $ | 7 | $ | 5,656 | ||||||||||
| North America |
10,446 | 526 | 955 | 22 | 1,503 | |||||||||||||||
| Eliminations & other |
229 | (193 | ) | 213 | 1 | 21 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| 3,978 | 3,172 | 30 | 7,180 | |||||||||||||||||
| Corporate & other (1) |
(957 | ) | 417 | (540 | ) | |||||||||||||||
| Interest income (2) |
33 | |||||||||||||||||||
| Interest expense (3) |
(571 | ) | ||||||||||||||||||
| Charges & credits |
(12,901 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 32,917 | $ | (10,418 | ) | $ | 3,589 | $ | 30 | $ | 6,640 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Full Year 2018 | ||||||||||||||||||||
| Revenue | Income Before Taxes |
Depreciation and Amortization (4) |
Interest, net (5) | EBITDA (6) | ||||||||||||||||
| International |
$ | 20,708 | $ | 3,559 | $ | 1,956 | $ | 20 | $ | 5,535 | ||||||||||
| North America |
11,730 | 872 | 922 | 11 | 1,805 | |||||||||||||||
| Eliminations & other |
377 | (244 | ) | 239 | (1 | ) | (6 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| 4,187 | 3,117 | 30 | 7,334 | |||||||||||||||||
| Corporate & other (1) |
(937 | ) | 439 | (498 | ) | |||||||||||||||
| Interest income (2) |
52 | |||||||||||||||||||
| Interest expense (3) |
(537 | ) | ||||||||||||||||||
| Charges & credits |
(141 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 32,815 | $ | 2,624 | $ | 3,556 | $ | 30 | $ | 6,836 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| (1) | Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. |
| (2) | Excludes amounts which are included in the segments’ income (2019: $8 million; 2018: $8 million.) |
| (3) | Expense excludes amounts which are included in the segments’ income (2019: $38 million; 2018: $38 million.) |
| (4) | Includes depreciation of property, plant and equipment and amortization of intangible assets, APS investments and multiclient data seismic costs. |
| (5) | Excludes interest income and expense recorded at the corporate level. |
| (6) | EBITDA represents income before taxes excluding depreciation and amortization, interest income, interest expense and charges & credits. Management believes that EBITDA is an important profitability measure for Schlumberger and that it allows investors and management to more efficiently evaluate Schlumberger’s operations period over period, and to identify operating trends that could otherwise be masked. EBITDA is also used by management as a performance measure in determining certain incentive compensation. EBITDA should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. |
| (7) | Capital investments includes capital expenditures, APS investments and multiclient seismic data costs capitalized. |
7
SCHLUMBERGER LIMITED
UNAUDITED QUARTERLY DIVISION REVENUE BY GEOGRAPHY
(Stated in Millions)
| Nine Months 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Nine Months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
|||||||||||||||||||||||||||||||||||||||||||||||||
| Digital & Integration |
$ | 731 | $ | 152 | $ | 2 | $ | 885 | $ | 470 | $ | 145 | $ | 4 | $ | 619 | $ | 605 | $ | 134 | $ | — | $ | 739 | $ | 1,806 | $ | 431 | $ | 6 | $ | 2,243 | ||||||||||||||||||||||||||||||||
| Reservoir Performance |
1,249 | 718 | 2 | 1,969 | 952 | 215 | 3 | 1,170 | 937 | 275 | 3 | 1,215 | 3,138 | 1,208 | 8 | 4,354 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Well Construction |
2,124 | 635 | 56 | 2,815 | 1,704 | 331 | 54 | 2,089 | 1,560 | 235 | 40 | 1,835 | 5,388 | 1,201 | 150 | 6,739 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Production Systems |
1,203 | 690 | 19 | 1,912 | 1,146 | 409 | 2 | 1,557 | 1,138 | 389 | 5 | 1,532 | 3,487 | 1,488 | 26 | 5,001 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Eliminations & other |
(82 | ) | (15 | ) | (29 | ) | (126 | ) | (48 | ) | (3 | ) | (28 | ) | (79 | ) | (30 | ) | 1 | (34 | ) | (63 | ) | (160 | ) | (17 | ) | (91 | ) | (268 | ) | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| $ | 5,225 | $ | 2,180 | $ | 50 | $ | 7,455 | $ | 4,224 | $ | 1,097 | $ | 35 | $ | 5,356 | $ | 4,210 | $ | 1,034 | $ | 14 | $ | 5,258 | $ | 13,659 | $ | 4,311 | $ | 99 | $ | 18,069 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| Full Year 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Digital & Integration |
$ | 767 | $ | 166 | $ | 2 | $ | 935 | $ | 817 | $ | 197 | $ | 3 | $ | 1,017 | $ | 817 | $ | 262 | $ | 2 | $ | 1,081 | $ | 871 | $ | 240 | $ | 1 | $ | 1,112 | $ | 3,272 | $ | 865 | $ | 8 | $ | 4,145 | ||||||||||||||||||||||||||||||||||||||||
| Reservoir Performance |
1,296 | 1,010 | 2 | 2,308 | 1,385 | 1,023 | 1 | 2,409 | 1,436 | 1,021 | 3 | 2,460 | 1,392 | 725 | 5 | 2,122 | 5,509 | 3,779 | 11 | 9,299 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Well Construction |
2,089 | 738 | 63 | 2,890 | 2,173 | 718 | 69 | 2,960 | 2,255 | 696 | 70 | 3,021 | 2,292 | 662 | 55 | 3,009 | 8,809 | 2,814 | 257 | 11,880 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Production Systems |
1,072 | 761 | 60 | 1,893 | 1,281 | 778 | (29 | ) | 2,030 | 1,324 | 782 | 6 | 2,112 | 1,382 | 732 | 18 | 2,132 | 5,059 | 3,053 | 55 | 8,167 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Eliminations & other |
(113 | ) | (11 | ) | (23 | ) | (147 | ) | (96 | ) | (15 | ) | (36 | ) | (147 | ) | (96 | ) | (19 | ) | (18 | ) | (133 | ) | (102 | ) | (20 | ) | (25 | ) | (147 | ) | (407 | ) | (65 | ) | (102 | ) | (574 | ) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
| $ | 5,111 | $ | 2,664 | $ | 104 | $ | 7,879 | $ | 5,560 | $ | 2,701 | $ | 8 | $ | 8,269 | $ | 5,736 | $ | 2,742 | $ | 63 | $ | 8,541 | $ | 5,835 | $ | 2,339 | $ | 54 | $ | 8,228 | $ | 22,242 | $ | 10,446 | $ | 229 | $ | 32,917 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
| Full Year 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
Intl. | North America |
Elims & other |
Total Revenue |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Digital & Integration |
$ | 676 | $ | 187 | $ | 60 | $ | 923 | $ | 699 | $ | 200 | $ | 41 | $ | 940 | $ | 735 | $ | 192 | $ | 33 | $ | 960 | $ | 784 | $ | 207 | $ | 6 | $ | 997 | $ | 2,894 | $ | 786 | $ | 140 | $ | 3,820 | ||||||||||||||||||||||||||||||||||||||||
| Reservoir Performance |
1,200 | 1,182 | 3 | 2,385 | 1,253 | 1,373 | 3 | 2,629 | 1,323 | 1,374 | 2 | 2,699 | 1,290 | 1,046 | 1 | 2,337 | 5,066 | 4,975 | 9 | 10,050 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Well Construction |
1,858 | 699 | 71 | 2,628 | 1,941 | 717 | 85 | 2,743 | 2,112 | 738 | 94 | 2,944 | 2,172 | 757 | 66 | 2,995 | 8,083 | 2,911 | 316 | 11,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Production Systems |
1,243 | 738 | 12 | 1,993 | 1,284 | 784 | 11 | 2,079 | 1,203 | 849 | 28 | 2,080 | 1,236 | 768 | 12 | 2,016 | 4,966 | 3,139 | 63 | 8,168 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Eliminations & other |
(36 | ) | (27 | ) | (37 | ) | (100 | ) | (30 | ) | (15 | ) | (43 | ) | (88 | ) | (97 | ) | (22 | ) | (60 | ) | (179 | ) | (138 | ) | (17 | ) | (11 | ) | (166 | ) | (301 | ) | (81 | ) | (151 | ) | (533 | ) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
| $ | 4,941 | $ | 2,779 | $ | 109 | $ | 7,829 | $ | 5,147 | $ | 3,059 | $ | 97 | $ | 8,303 | $ | 5,276 | $ | 3,131 | $ | 97 | $ | 8,504 | $ | 5,344 | $ | 2,761 | $ | 74 | $ | 8,179 | $ | 20,708 | $ | 11,730 | $ | 377 | $ | 32,815 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
8
SCHLUMBERGER LIMITED
UNAUDITED REVENUE BY GEOGRAPHAL AREA
(Stated in Millions)
| Nine Months 2020 | ||||||||||||||||||||
| Q1 | Q2 | Q3 | Nine Months |
|||||||||||||||||
| North America |
$ | 2,180 | $ | 1,097 | $ | 1,034 | $ | 4,311 | ||||||||||||
| Latin America |
1,046 | 629 | 828 | 2,503 | ||||||||||||||||
| Europe/CIS/Africa |
1,751 | 1,449 | 1,397 | 4,597 | ||||||||||||||||
| Middle East & Asia |
2,428 | 2,146 | 1,985 | 6,559 | ||||||||||||||||
| Eliminations & other |
50 | 35 | 14 | 99 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| $ | 7,455 | $ | 5,356 | $ | 5,258 | $ | 18,069 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Full Year 2019 | ||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | Full Year | ||||||||||||||||
| North America |
$ | 2,664 | $ | 2,701 | $ | 2,742 | $ | 2,339 | $ | 10,446 | ||||||||||
| Latin America |
1,066 | 1,214 | 1,121 | 1,143 | 4,544 | |||||||||||||||
| Europe/CIS/Africa |
1,707 | 1,895 | 2,062 | 2,018 | 7,682 | |||||||||||||||
| Middle East & Asia |
2,338 | 2,451 | 2,553 | 2,674 | 10,016 | |||||||||||||||
| Eliminations & other |
104 | 8 | 63 | 54 | 229 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 7,879 | $ | 8,269 | $ | 8,541 | $ | 8,228 | $ | 32,917 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Full Year 2018 | ||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | Full Year | ||||||||||||||||
| North America |
$ | 2,779 | $ | 3,059 | $ | 3,131 | $ | 2,761 | $ | 11,730 | ||||||||||
| Latin America |
929 | 1,004 | 1,042 | 1,038 | 4,013 | |||||||||||||||
| Europe/CIS/Africa |
1,672 | 1,783 | 1,816 | 1,842 | 7,113 | |||||||||||||||
| Middle East & Asia |
2,340 | 2,360 | 2,418 | 2,464 | 9,582 | |||||||||||||||
| Eliminations & other |
109 | 97 | 97 | 74 | 377 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 7,829 | $ | 8,303 | $ | 8,504 | $ | 8,179 | $ | 32,815 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
9