0000950170-24-047250 | 10-Q | XBRL Viewer

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,098	$ 944
Currency translation adjustments
Unrealized net change arising during the period	23	(34)
Cash flow hedges
Net loss on cash flow hedges	(17)	(33)
Reclassification to net income of net realized gain	(1)	(5)
Pension and other postretirement benefit plans
Amortization to net income of net actuarial gain		(2)
Amortization to net income of net prior service credit	(6)	(6)
Income taxes on pension and other postretirement benefit plans	1	2
Other	5
Comprehensive income	1,103	866
Comprehensive income attributable to noncontrolling interests	30	10
Comprehensive income attributable to SLB	$ 1,073	$ 856

Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets consist of the following:


	(Stated in millions)

	Mar. 31, 2024						Dec. 31, 2023
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer relationships	$	1,886	$	731	$	1,155	$	1,887	$	709	$	1,178
Technology/technical know-how		1,516		795		721		1,516		770		746
Tradenames		795		274		521		795		265		530
Other		1,592		822		770		1,582		797		785
	$	5,789	$	2,622	$	3,167	$	5,780	$	2,541	$	3,239

Amortization expense charged to income was $81 million during the first quarter of 2024 and $76 million during the first quarter of 2023.

Based on the carrying value of intangible assets at March 31, 2024, amortization expense for the subsequent five years is estimated to be: remaining three quarters of 2024—$244 million; 2025—$306 million; 2026—$297 million; 2027—$293 million; 2028—$283 million; and 2029—$270 million.

Charges and Credits (Table)

3 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Summary of Charges and Credits

In connection with SLB's October 2023 acquisition of the Aker Solutions ("Aker") subsea business, SLB recorded $25 million of pretax charges during the first quarter of 2024 consisting of: $14 million relating to the amortization of purchase accounting adjustments associated with the write-up of acquired inventories to its estimated fair value and $11 million of other merger and integration-related costs. $14 million of these costs are classified in Cost of Sales in the Consolidated Statement of Income, with the remaining $11 million classified in Merger & integration.


	(Stated in millions)

					Noncontrolling
	Pretax Charge		Tax Benefit		Interests		Net
Merger and integration	$	25	$	6	$	5	$	14

Charges and Credits - Summary of Charges and Credits (Detail) - Interest And Other - Merger And Integration $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Charges And Credits [Line Items]
Charges and credits, Pretax Charge	$ 25
Charges and credits, Tax Benefit	6
Charges and credits, Noncontrolling Interests	5
Charges and credits, Net	$ 14

Fixed Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense relating to fixed assets	$ 377	$ 347

Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials & field materials	$ 2,400	$ 2,296
Work in progress	813	762
Finished goods	1,336	1,329
Inventories	$ 4,549	$ 4,387

Derivative Instruments and Hedging Activities - Additional Information (Detail) € in Billions	3 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 EUR (€)
Derivative [Line Items]
Denominated debt issued								$ 500,000,000	€ 1.5
Fair value of outstanding derivatives \| $					$ 0	$ 0
Credit Default Swap
Derivative [Line Items]
Notional amount of interest rate swap \| $					$ 521,000,000
Credit derivative term					23 months
Scenario Forecast
Derivative [Line Items]
Percentage of derivative contracts of oil price	25.00%	50.00%	75.00%	75.00%
0.00% Notes due 2024
Derivative [Line Items]
Notes, face amount									€ 0.5
Derivative swap interest rate									0.00%
0.25% Notes due 2027
Derivative [Line Items]
Notes, face amount							€ 0.4		€ 0.5
Derivative swap interest rate							0.25%	0.25%	0.25%
Promissory note interest rate					0.25%	0.25%
0.50% Notes due 2031
Derivative [Line Items]
Notes, face amount							€ 0.4		€ 0.5
Derivative swap interest rate							0.50%	0.50%	0.50%
Promissory note interest rate					0.50%	0.50%
Euro-denominated Notes
Derivative [Line Items]
Denominated debt issued							€ 0.8
Euro-denominated Guaranteed Notes
Derivative [Line Items]
Denominated debt issued							2.0
1.375% Guaranteed Notes due 2026
Derivative [Line Items]
Notes, face amount							€ 1.0
Derivative swap interest rate							1.375%	1.375%
2.00% Guaranteed Notes due 2032
Derivative [Line Items]
Notes, face amount							€ 1.0
Derivative swap interest rate							2.00%	2.00%
1.40% Senior Notes due 2025
Derivative [Line Items]
Notes, face amount \| $								$ 500,000,000
Derivative swap interest rate							1.40%	1.40%
Promissory note interest rate					1.40%	1.40%
Cross currency interest rate swaps \| 0.00% Notes due 2024
Derivative [Line Items]
Promissory note interest rate									2.29%
Cross currency interest rate swaps \| 0.25% Notes due 2027
Derivative [Line Items]
Promissory note interest rate							1.87%	1.87%	2.51%
Cross currency interest rate swaps \| 0.50% Notes due 2031
Derivative [Line Items]
Promissory note interest rate							2.20%	2.20%	2.76%
Cross currency interest rate swaps \| 1.375% Guaranteed Notes due 2026
Derivative [Line Items]
Promissory note interest rate							2.77%	2.77%
Cross currency interest rate swaps \| 2.00% Guaranteed Notes due 2032
Derivative [Line Items]
Promissory note interest rate							3.49%	3.49%
Cross currency interest rate swaps \| 1.40% Senior Notes due 2025
Derivative [Line Items]
Promissory note interest rate							1.73%	1.73%
Foreign exchange contracts
Derivative [Line Items]
Notional amount of interest rate swap \| $					$ 5,100,000,000	$ 5,400,000,000

Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

10. Segment Information


				(Stated in millions)

	First Quarter 2024						First Quarter 2023
				Income						Income
	Revenue			Before Taxes			Revenue			Before Taxes
Digital & Integration	$	953		$	254		$	894		$	265
Reservoir Performance		1,725			339			1,503			242
Well Construction		3,368			690			3,261			672
Production Systems		2,818			400			2,207			205
Eliminations & other		(157	)		(34	)		(129	)		7
Pretax segment operating income					1,649						1,391
Corporate & other (1)					(191	)					(169	)
Interest income (2)					34						17
Interest expense (3)					(110	)					(114	)
Charges and credits (4)					(25	)					36
	$	8,707		$	1,357		$	7,736		$	1,161

(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)

Interest income excludes amounts that are included in the segments’ income ($4 million in 2024; $- million in 2023).

(3)

Interest expense excludes amounts that are included in the segments’ income ($3 million in 2024; $3 million in 2023).

(4)

See Note 2 – Charges and Credits.

Revenue by geographic area was as follows:


	(Stated in millions)

	First Quarter
	2024		2023
North America	$	1,598	$	1,698
Latin America		1,654		1,618
Europe & Africa (1)		2,322		1,974
Middle East & Asia		3,080		2,393
Other		53		53
	$	8,707	$	7,736

(1)

Includes Russia and the Caspian region.

North America and International revenue disaggregated by segment was as follows:


							(Stated in millions)

	First Quarter 2024
	North
	America			International			Other			Total
Digital & Integration	$	236		$	717		$	-		$	953
Reservoir Performance		130			1,592			3			1,725
Well Construction		604			2,707			57			3,368
Production Systems		647			2,164			7			2,818
Eliminations & other		(19	)		(124	)		(14	)		(157	)
	$	1,598		$	7,056		$	53		$	8,707


	First Quarter 2023
	North
	America			International			Other			Total
Digital & Integration	$	251		$	642		$	1		$	894
Reservoir Performance		120			1,380			3			1,503
Well Construction		711			2,493			57			3,261
Production Systems		626			1,574			7			2,207
Eliminations & other		(10	)		(104	)		(15	)		(129	)
	$	1,698		$	5,985		$	53		$	7,736

Revenue in excess of billings related to contracts where revenue is recognized over time was $0.4 billion at March 31, 2024 and December 31, 2023. Such amounts are included within Receivables less allowance for doubtful accounts in the Consolidated Balance Sheet.

Total backlog was $5.3 billion at March 31, 2024, of which approximately 65% is expected to be recognized as revenue over the next 12 months.

Billings and cash collections in excess of revenue was $2.0 billion at both March 31, 2024 and December 31, 2023. Such amounts are included within Accounts payable and accrued liabilities in the Consolidated Balance Sheet.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash	$ 2,788	$ 2,900
Short-term investments	703	1,089
Receivables less allowance for doubtful accounts (2024 - $333; 2023 - $337)	8,222	7,812
Inventories	4,549	4,387
Other current assets	1,438	1,530
Current assets total	17,700	17,718
Investments in Affiliated Companies	1,606	1,624
Fixed Assets less accumulated depreciation	7,253	7,240
Goodwill	14,086	14,084
Intangible Assets	3,167	3,239
Other Assets	4,044	4,052
Total Assets	47,856	47,957
Current Liabilities
Accounts payable and accrued liabilities	10,051	10,904
Estimated liability for taxes on income	987	994
Short-term borrowings and current portion of long-term debt	1,430	1,123
Dividends payable	411	374
Current Liabilities Total	12,879	13,395
Long-term Debt	10,740	10,842
Postretirement Benefits	177	175
Deferred Taxes	115	140
Other Liabilities	2,022	2,046
Total Liabilities	25,933	26,598
Equity
Common stock	11,344	11,624
Treasury stock	(531)	(678)
Retained earnings	14,172	13,497
Accumulated other comprehensive loss	(4,249)	(4,254)
SLB stockholders' equity	20,736	20,189
Noncontrolling interests	1,187	1,170
Total equity	21,923	21,359
Liabilities and stockholders equity	$ 47,856	$ 47,957

Derivative Instruments and Hedging Activities - Summary of Derivatives Included in the Consolidated Balance Sheet (Detail) - Cross currency interest rate swaps - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative liability current	$ 11
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities, Current
Derivative assets noncurrent	$ 17	$ 36
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Derivative liability noncurrent	$ 98	$ 67
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Long-term Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-term Debt

7. Long-term Debt

Long-term Debt consists of the following:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
3.90% Senior Notes due 2028	$	1,473	$	1,469
2.65% Senior Notes due 2030		1,250		1,250
1.375% Guaranteed Notes due 2026		1,080		1,104
2.00% Guaranteed Notes due 2032		1,074		1,098
0.25% Notes due 2027		972		994
0.50% Notes due 2031		971		992
4.30% Senior Notes due 2029		847		847
1.00% Guaranteed Notes due 2026		648		662
4.00% Senior Notes due 2025		523		523
1.40% Senior Notes due 2025		499		499
4.50% Senior Notes due 2028		497		497
4.85% Senior Notes due 2033		497		497
7.00% Notes due 2038		199		200
5.95% Notes due 2041		112		112
5.13% Notes due 2043		98		98
	$	10,740	$	10,842

The estimated fair value of SLB’s Long-term Debt, based on quoted market prices at March 31, 2024 and December 31, 2023, was $10.0 billion and $10.2 billion, respectively.

At March 31, 2024, SLB had committed credit facility agreements aggregating $5.0 billion with commercial banks, of which $4.7 billion was available and unused. These committed facilities, of which $2.0 billion matures in February 2027 and $3.0 billion matures in December 2028, support commercial paper programs in the United States and Europe. Borrowings under the commercial paper programs at March 31, 2024 were $345 million, all of which were classified in Short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheet. There were no borrowings under the commercial paper programs at December 31, 2023.

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment S.A. and Schlumberger Finance Canada Ltd., both indirect wholly-owned subsidiaries of Schlumberger Limited.

Long-term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, carrying amount	$ 10,740	$ 10,842
3.90% Senior Notes due 2028
Debt Instrument [Line Items]
Long-term debt, carrying amount	1,473	1,469
2.65% Senior Notes due 2030
Debt Instrument [Line Items]
Long-term debt, carrying amount	1,250	1,250
1.375% Guaranteed Notes due 2026
Debt Instrument [Line Items]
Long-term debt, carrying amount	1,080	1,104
2.00% Guaranteed Notes due 2032
Debt Instrument [Line Items]
Long-term debt, carrying amount	1,074	1,098
0.25% Notes due 2027
Debt Instrument [Line Items]
Long-term debt, carrying amount	972	994
0.50% Notes due 2031
Debt Instrument [Line Items]
Long-term debt, carrying amount	971	992
4.30% Senior Notes due 2029
Debt Instrument [Line Items]
Long-term debt, carrying amount	847	847
1.00% Guaranteed Notes due 2026
Debt Instrument [Line Items]
Long-term debt, carrying amount	648	662
4.00% Senior Notes due 2025
Debt Instrument [Line Items]
Long-term debt, carrying amount	523	523
1.40% Senior Notes due 2025
Debt Instrument [Line Items]
Long-term debt, carrying amount	499	499
4.50% Senior Notes due 2028
Debt Instrument [Line Items]
Long-term debt, carrying amount	497	497
4.85% Senior Notes due 2033
Debt Instrument [Line Items]
Long-term debt, carrying amount	497	497
7.00% Notes due 2038
Debt Instrument [Line Items]
Long-term debt, carrying amount	199	200
5.95% Notes due 2041
Debt Instrument [Line Items]
Long-term debt, carrying amount	112	112
5.13% Notes due 2043
Debt Instrument [Line Items]
Long-term debt, carrying amount	$ 98	$ 98

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock Issued	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at Dec. 31, 2022	$ 17,989	$ 11,837	$ (1,016)	$ 10,719	$ (3,855)	$ 304
Net income	944			934		10
Currency translation adjustments	(34)				(34)
Changes in fair value of cash flow hedges	(38)				(38)
Pension and other postretirement benefit plans	(6)				(6)
Shares sold to optionees, less shares exchanged	35	(28)	63
Vesting of restricted stock, net of taxes withheld	(88)	(503)	415
Employee stock purchase plan	86	(123)	209
Stock repurchase program	(230)		(230)
Stock-based compensation expense	81	81
Dividends declared	(357)			(357)
Dividends paid to noncontrolling interests	(2)					(2)
Balance at Mar. 31, 2023	18,380	11,264	(559)	11,296	(3,933)	312
Balance at Dec. 31, 2023	$ 21,359	$ 11,624	$ (678)	13,497	(4,254)	1,170
Balance, shares at Dec. 31, 2023	1,427	1,439
Treasury shares , Balance at Dec. 31, 2023			(12)
Net income	$ 1,098			1,068		30
Currency translation adjustments	23				23
Changes in fair value of cash flow hedges	(18)				(18)
Pension and other postretirement benefit plans	(5)				(5)
Shares sold to optionees, less shares exchanged	15	$ (6)	$ 21
Vesting of restricted stock, net of taxes withheld	$ (78)	(338)	$ 260
Vesting of restricted stock, shares	5		5
Employee stock purchase plan	$ 100	(36)	$ 136
Shares issued under employee stock purchase plan, shares	2		2
Stock repurchase program	$ (270)		$ (270)
Stock repurchase program, shares	(5)		(5)
Stock-based compensation expense	$ 100	100
Dividends declared	(393)			(393)
Other	(8)				5	(13)
Balance at Mar. 31, 2024	$ 21,923	$ 11,344	$ (531)	$ 14,172	$ (4,249)	$ 1,187
Balance, shares at Mar. 31, 2024	1,429	1,439
Treasury shares, Balance at Mar. 31, 2024			(10)

Segment Information - Additional Information (Detail) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting [Abstract]
Revenue in excess of billings	$ 0.4	$ 0.4
Total backlog	$ 5.3
Percentage of revenue expected to be recognized over next 12 months	65.00%
Billings and cash collections in excess of revenue	$ 2.0	$ 2.0

Fixed Assets (Tables)

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Summary of Fixed Assets

Fixed assets consist of the following:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
Property, plant & equipment	$	29,934	$	29,965
Less: Accumulated depreciation		22,681		22,725
	$	7,253	$	7,240

Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Income Attributable to Schlumberger
Basic	$ 1,068	$ 934
Diluted	$ 1,068	$ 934
Average Shares Outstanding
Basic	1,431	1,426
Assumed exercise of stock options	1	2
Unvested restricted stock	15	18
Diluted	1,447	1,446
Earnings per Share
Basic	$ 0.75	$ 0.65
Diluted	$ 0.74	$ 0.65

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share

The following is a reconciliation from basic earnings per share of SLB to diluted earnings per share of SLB:


	(Stated in millions, except per share amounts)

	2024						2023
	Net Income Attributable to SLB		Average Shares Outstanding		Earnings per Share		Net Income Attributable to SLB		Average Shares Outstanding		Earnings per Share
First Quarter
Basic	$	1,068		1,431	$	0.75	$	934		1,426	$	0.65
Assumed exercise of stock options		-		1				-		2
Unvested restricted stock		-		15				-		18
Diluted	$	1,068		1,447	$	0.74	$	934		1,446	$	0.65

Schedule of Antidilutive Securities Excluded from Computation of Income Per Share

The number of outstanding options to purchase shares of SLB common stock that were not included in the computation of diluted income per share, because to do so would have had an antidilutive effect, was as follows:


(Stated in millions)

	Three Months Ended March 31,
	2024		2023
Employee stock options		20		24

Basis of Presentation

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

1. Basis of Presentation

The accompanying unaudited consolidated financial statements of Schlumberger Limited and its subsidiaries (“SLB”) have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of SLB management, all adjustments considered necessary for a fair statement have been included in the accompanying unaudited financial statements. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the three-month period ended March 31, 2024 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024. The December 31, 2023 balance sheet information has been derived from the SLB 2023 audited financial statements. For further information, refer to the Consolidated Financial Statements and notes thereto included in the SLB Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on January 24, 2024.

Recently Announced Transaction

On April 2, 2024, SLB announced a definitive agreement to purchase ChampionX Corporation ("ChampionX") in an all-stock transaction. ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of the transaction ChampionX shareholders will own approximately 9% of SLB's outstanding shares of common stock. ChampionX reported revenue of approximately $3.8 billion in 2023. The transaction is subject to ChampionX stockholder approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur before the end of 2024.

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

8. Derivative Instruments and Hedging Activities

SLB’s functional currency is primarily the US dollar. However, outside the United States, a significant portion of SLB’s expenses is incurred in foreign currencies. Therefore, when the US dollar weakens (strengthens) in relation to the foreign currencies of the countries in which SLB conducts business, the US dollar-reported expenses will increase (decrease).

Changes in foreign currency exchange rates expose SLB to risks on future cash flows relating to its fixed rate debt denominated in currencies other than the functional currency. SLB uses cross-currency interest rate swaps to provide a hedge against these risks. These contracts are accounted for as cash flow hedges, with the fair value of the derivative recorded on the Consolidated Balance Sheet and in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are reclassified into earnings in the same period or periods that the hedged item is recognized in earnings.

Details regarding SLB’s outstanding cross-currency interest rate swaps as of March 31, 2024, were as follows:

•

During 2019, a US-dollar functional currency subsidiary of SLB issued €1.5 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps in order to hedge changes in the US dollar value of its €0.5 billion 0.00% Notes due 2024, €0.5 billion 0.25% Notes due 2027 and €0.5 billion 0.50% Notes due 2031. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.29%, 2.51% and 2.76%, respectively.

•

During 2020, a US-dollar functional currency subsidiary of SLB issued €0.8 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its €0.4 billion of 0.25% Notes due 2027 and €0.4 billion of 0.50% Notes due 2031. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 1.87% and 2.20%, respectively.

•

During 2020, a US-dollar functional currency subsidiary of SLB issued €2.0 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its €1.0 billion of 1.375% Guaranteed Notes due 2026 and €1.0 billion of 2.00% Guaranteed Notes due 2032. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.77% and 3.49%, respectively.

•

During 2020, a Canadian dollar functional currency subsidiary of SLB issued $0.5 billion of US dollar denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its $0.5 billion 1.40% Senior Notes due 2025. These cross-currency interest rate swaps effectively convert the US dollar notes to Canadian dollar denominated debt with a fixed annual interest rate of 1.73%.

A summary of the amounts included in the Consolidated Balance Sheet relating to cross currency interest rate swaps was as follows:


	(Stated in millions)

	Mar. 31, 2024		Dec. 31, 2023
Accounts payable and accrued liabilities	$	11	$	-
Other Assets	$	17	$	36
Other Liabilities	$	98	$	67

The fair values were determined using a model with inputs that are observable in the market or can be derived or corroborated by observable data.

SLB has entered into derivative contracts that hedge the price of oil related to approximately 75% of the projected oil production for the second and third quarters of 2024, approximately 50% for the fourth quarter of 2024, and approximately 25% for the first quarter of 2025 for one of its Asset Performance Solutions ("APS") projects. These contracts are accounted for as cash flow hedges, with changes in the fair value of the hedge recorded in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are reclassified to earnings in the same period or periods that the hedged item is recognized in earnings.

SLB is exposed to risks on future cash flows to the extent that the local currency is not the functional currency and expenses denominated in local currency are not equal to revenues denominated in local currency. SLB uses foreign currency forward contracts to provide a hedge against a portion of these cash flow risks. These contracts are accounted for as cash flow hedges.

SLB is also exposed to changes in the fair value of assets and liabilities denominated in currencies other than the functional currency. While SLB uses foreign currency forward contracts to economically hedge this exposure as it relates to certain currencies, these contracts are not designated as hedges for accounting purposes. Instead, the fair value of the derivative is recorded on the Consolidated Balance Sheet and changes in the fair value are recognized in the Consolidated Statement of Income, as are changes in the fair value of the hedged item.

Foreign currency forward contracts were outstanding for the US dollar equivalent of $5.1 billion and $5.4 billion in various foreign currencies as of March 31, 2024 and December 31, 2023, respectively.

Other than the previously mentioned cross-currency interest rate swaps, the fair value of the other outstanding derivatives was not material as of March 31, 2024 and December 31, 2023.

The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income was as follows:


	(Stated in millions)

	Gain (Loss) Recognized in Income
	First Quarter
	2024			2023			Consolidated Statement of Income Classification
Derivatives designated as cash flow hedges:
Cross-currency interest rate swaps	$	(94	)	$	95		Cost of services/sales
Cross-currency interest rate swaps		(21	)		(22	)	Interest expense
Commodity contracts		(3	)		2		Revenue
Foreign exchange contracts		-			3		Cost of services/sales
Foreign exchange contracts		3			-		Revenue
	$	(115	)	$	78
Derivatives not designated as hedges:
Foreign exchange contracts	$	5		$	1		Cost of services/sales

SLB issued a credit default swap ("CDS") to a third-party financial institution that has a notional amount outstanding, as of March 31, 2024, of $521 million. The CDS related to a secured borrowing provided by the financial institution to SLB's primary customer in Mexico. The secured borrowing was utilized by this customer to pay certain of SLB's outstanding receivables. The notional amount of the CDS reduces on a monthly basis over its remaining 23-month term. The fair value of this derivative liability was not material at March 31, 2024.

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets by Major Class

Intangible assets consist of the following:


	(Stated in millions)

	Mar. 31, 2024						Dec. 31, 2023
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer relationships	$	1,886	$	731	$	1,155	$	1,887	$	709	$	1,178
Technology/technical know-how		1,516		795		721		1,516		770		746
Tradenames		795		274		521		795		265		530
Other		1,592		822		770		1,582		797		785
	$	5,789	$	2,622	$	3,167	$	5,780	$	2,541	$	3,239

Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

4. Inventories

A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
Raw materials & field materials	$	2,400	$	2,296
Work in progress		813		762
Finished goods		1,336		1,329
	$	4,549	$	4,387

Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Interest expense	$ 113	$ 117
Operating Segments
Segment Reporting Information [Line Items]
Interest income	4
Interest expense	$ 3	$ 3

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

- Definition

Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities.

+ References + Details

Long-term Debt - Summary of Long-term Debt (Parenthetical) (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
3.90% Senior Notes due 2028
Debt Instrument [Line Items]
Debt instrument interest rate	3.90%	3.90%
Debt instrument maturity date	2028	2028
2.65% Senior Notes due 2030
Debt Instrument [Line Items]
Debt instrument interest rate	2.65%	2.65%
Debt instrument maturity date	2030	2030
1.375% Guaranteed Notes due 2026
Debt Instrument [Line Items]
Debt instrument interest rate	1.375%	1.375%
Debt instrument maturity date	2026	2026
2.00% Guaranteed Notes due 2032
Debt Instrument [Line Items]
Debt instrument interest rate	2.00%	2.00%
Debt instrument maturity date	2032	2032
0.25% Notes due 2027
Debt Instrument [Line Items]
Debt instrument interest rate	0.25%	0.25%
Debt instrument maturity date	2027	2027
0.50% Notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate	0.50%	0.50%
Debt instrument maturity date	2031	2031
4.30% Senior Notes due 2029
Debt Instrument [Line Items]
Debt instrument interest rate	4.30%	4.30%
Debt instrument maturity date	2029	2029
1.00% Guaranteed Notes due 2026
Debt Instrument [Line Items]
Debt instrument interest rate	1.00%	1.00%
Debt instrument maturity date	2026	2026
4.00% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument interest rate	4.00%	4.00%
Debt instrument maturity date	2025	2025
1.40% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument interest rate	1.40%	1.40%
Debt instrument maturity date	2025	2025
4.50% Senior Notes due 2028
Debt Instrument [Line Items]
Debt instrument interest rate	4.50%	4.50%
Debt instrument maturity date	2028	2028
4.85% Senior Notes due 2033
Debt Instrument [Line Items]
Debt instrument interest rate	4.85%	4.85%
Debt instrument maturity date	2033	2033
7.00% Notes due 2038
Debt Instrument [Line Items]
Debt instrument interest rate	7.00%	7.00%
Debt instrument maturity date	2038	2038
5.95% Notes due 2041
Debt Instrument [Line Items]
Debt instrument interest rate	5.95%	5.95%
Debt instrument maturity date	2041	2041
5.13% Notes due 2043
Debt Instrument [Line Items]
Debt instrument interest rate	5.13%	5.13%
Debt instrument maturity date	2043	2043

Segment Information - Summary of North America and International Revenue Disaggregated by Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 8,707	$ 7,736
Digital Integration
Segment Reporting Information [Line Items]
Revenue	953	894
Reservoir Performance
Segment Reporting Information [Line Items]
Revenue	1,725	1,503
Well Construction
Segment Reporting Information [Line Items]
Revenue	3,368	3,261
Production Systems
Segment Reporting Information [Line Items]
Revenue	2,818	2,207
Eliminations & Other
Segment Reporting Information [Line Items]
Revenue	(157)	(129)
Operating Segments
Segment Reporting Information [Line Items]
Revenue	8,707	7,736
Operating Segments \| Digital Integration
Segment Reporting Information [Line Items]
Revenue	953	894
Operating Segments \| Reservoir Performance
Segment Reporting Information [Line Items]
Revenue	1,725	1,503
Operating Segments \| Well Construction
Segment Reporting Information [Line Items]
Revenue	3,368	3,261
Operating Segments \| Production Systems
Segment Reporting Information [Line Items]
Revenue	2,818	2,207
Operating Segments \| Eliminations & Other
Segment Reporting Information [Line Items]
Revenue	(157)	(129)
North America \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,598	1,698
North America \| Operating Segments \| Digital Integration
Segment Reporting Information [Line Items]
Revenue	236	251
North America \| Operating Segments \| Reservoir Performance
Segment Reporting Information [Line Items]
Revenue	130	120
North America \| Operating Segments \| Well Construction
Segment Reporting Information [Line Items]
Revenue	604	711
North America \| Operating Segments \| Production Systems
Segment Reporting Information [Line Items]
Revenue	647	626
North America \| Operating Segments \| Eliminations & Other
Segment Reporting Information [Line Items]
Revenue	(19)	(10)
International \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	7,056	5,985
International \| Operating Segments \| Digital Integration
Segment Reporting Information [Line Items]
Revenue	717	642
International \| Operating Segments \| Reservoir Performance
Segment Reporting Information [Line Items]
Revenue	1,592	1,380
International \| Operating Segments \| Well Construction
Segment Reporting Information [Line Items]
Revenue	2,707	2,493
International \| Operating Segments \| Production Systems
Segment Reporting Information [Line Items]
Revenue	2,164	1,574
International \| Operating Segments \| Eliminations & Other
Segment Reporting Information [Line Items]
Revenue	(124)	(104)
Other \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	53	53
Other \| Operating Segments \| Digital Integration
Segment Reporting Information [Line Items]
Revenue		1
Other \| Operating Segments \| Reservoir Performance
Segment Reporting Information [Line Items]
Revenue	3	3
Other \| Operating Segments \| Well Construction
Segment Reporting Information [Line Items]
Revenue	57	57
Other \| Operating Segments \| Production Systems
Segment Reporting Information [Line Items]
Revenue	7	7
Other \| Operating Segments \| Eliminations & Other
Segment Reporting Information [Line Items]
Revenue	$ (14)	$ (15)

Charges and Credits - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Charges And Credits [Line Items]
Merger & integration	$ 11
Liberty Energy Inc
Charges And Credits [Line Items]
Shares issued		9
Received proceeds from sale of shares		$ 137
Gains on sales of businesses		28
Pretax gain on sale of business		36
Product
Charges And Credits [Line Items]
Cost of services and sales	2,592	$ 2,156
Aker \| Subsea Business
Charges And Credits [Line Items]
Business acquisition pre tax charges	25
Amortization of purchase accounting adjustments related to acquired inventories	14
Other merger and integration-related costs	11
Merger & integration	11
Aker \| Subsea Business \| Product
Charges And Credits [Line Items]
Cost of services and sales	$ 14

Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Summary of Long-term Debt

Long-term Debt consists of the following:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
3.90% Senior Notes due 2028	$	1,473	$	1,469
2.65% Senior Notes due 2030		1,250		1,250
1.375% Guaranteed Notes due 2026		1,080		1,104
2.00% Guaranteed Notes due 2032		1,074		1,098
0.25% Notes due 2027		972		994
0.50% Notes due 2031		971		992
4.30% Senior Notes due 2029		847		847
1.00% Guaranteed Notes due 2026		648		662
4.00% Senior Notes due 2025		523		523
1.40% Senior Notes due 2025		499		499
4.50% Senior Notes due 2028		497		497
4.85% Senior Notes due 2033		497		497
7.00% Notes due 2038		199		200
5.95% Notes due 2041		112		112
5.13% Notes due 2043		98		98
	$	10,740	$	10,842

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 69B
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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+ Details

Inventories (Tables)

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Summary of Inventory

A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
Raw materials & field materials	$	2,400	$	2,296
Work in progress		813		762
Finished goods		1,336		1,329
	$	4,549	$	4,387

Fixed Assets

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Fixed Assets

5. Fixed Assets

Fixed assets consist of the following:


(Stated in millions)

	Mar. 31,		Dec. 31,
	2024		2023
Property, plant & equipment	$	29,934	$	29,965
Less: Accumulated depreciation		22,681		22,725
	$	7,253	$	7,240

Depreciation expense relating to fixed assets was $377 million and $347 million in the first quarter of 2024 and 2023, respectively.

Derivative Instruments and Hedging Activities - Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of Income (Detail) - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivatives designated as hedges
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ (115)	$ 78
Derivatives designated as hedges \| Cross currency interest rate swaps
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ (94)	$ 95
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of services and sales	Cost of services and sales
Derivatives designated as hedges \| Cross currency interest rate swaps
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ (21)	$ (22)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest	Interest
Derivatives designated as hedges \| Commodity contracts
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ (3)	$ 2
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total Revenue	Total Revenue
Derivatives designated as hedges \| Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ 3	$ 3
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total Revenue	Cost of services and sales
Derivatives not designated as hedges \| Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Income	$ 5	$ 1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of services and sales	Cost of services and sales

Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, plant & equipment	$ 29,934	$ 29,965
Less: Accumulated depreciation	22,681	22,725
Fixed assets less accumulated depreciation	$ 7,253	$ 7,240

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Retained Earnings
Dividends declared, per share	$ 0.275	$ 0.25

Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

3. Earnings per Share

The following is a reconciliation from basic earnings per share of SLB to diluted earnings per share of SLB:


	(Stated in millions, except per share amounts)

	2024						2023
	Net Income Attributable to SLB		Average Shares Outstanding		Earnings per Share		Net Income Attributable to SLB		Average Shares Outstanding		Earnings per Share
First Quarter
Basic	$	1,068		1,431	$	0.75	$	934		1,426	$	0.65
Assumed exercise of stock options		-		1				-		2
Unvested restricted stock		-		15				-		18
Diluted	$	1,068		1,447	$	0.74	$	934		1,446	$	0.65


(Stated in millions)

	Three Months Ended March 31,
	2024		2023
Employee stock options		20		24

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Cash flows from operating activities:

Net income

$ 1,098

$ 944

Adjustments to reconcile net income to net cash provided by operating activities:

Charges and credits

(36)

Depreciation and amortization

^[1]

600

563

Deferred taxes

(30)

112

Stock-based compensation expense

100

Earnings of equity method investments, less dividends received

(16)

(32)

Change in assets and liabilities:

Increase in receivables

^[2]

(429)

(509)

Increase in inventories

^[2]

(172)

(288)

Decrease in other current assets

^[2]

Decrease (increase) in other assets

^[2]

(10)

Decrease in accounts payable and accrued liabilities

^[2]

(885)

(473)

Decrease in estimated liability for taxes on income

^[2]

(46)

(84)

Other

^[2]

NET CASH PROVIDED BY OPERATING ACTIVITIES

327

330

Cash flows from investing activities:

Capital expenditures

(399)

(410)

APS investments

(121)

(133)

Exploration data costs capitalized

(29)

(52)

Business acquisitions and investments, net of cash acquired

(27)

(244)

Proceeds from sale of Liberty shares

137

Sale of short-term investments, net

390

236

Other

(81)

NET CASH USED IN INVESTING ACTIVITIES

(151)

(547)

Cash flows from financing activities:

Dividends paid

(357)

(249)

Proceeds from employee stock purchase plan

100

Proceeds from exercise of stock options

Taxes paid on net settled stock-based compensation awards

(78)

(88)

Stock repurchase program

(270)

(230)

Proceeds from issuance of long-term debt

345

559

Net decrease in short-term borrowings

(9)

(50)

Other

(13)

(1)

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES

(267)

Net increase in cash before translation effect

(91)

(155)

Translation effect on cash

(21)

Cash, beginning of period

2,900

1,655

Cash, end of period

$ 2,788

$ 1,501

[1]	Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.
[2]	Net of the effect of business acquisitions.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


				(Stated in millions)

	First Quarter 2024						First Quarter 2023
				Income						Income
	Revenue			Before Taxes			Revenue			Before Taxes
Digital & Integration	$	953		$	254		$	894		$	265
Reservoir Performance		1,725			339			1,503			242
Well Construction		3,368			690			3,261			672
Production Systems		2,818			400			2,207			205
Eliminations & other		(157	)		(34	)		(129	)		7
Pretax segment operating income					1,649						1,391
Corporate & other (1)					(191	)					(169	)
Interest income (2)					34						17
Interest expense (3)					(110	)					(114	)
Charges and credits (4)					(25	)					36
	$	8,707		$	1,357		$	7,736		$	1,161

(1)

(2)

Interest income excludes amounts that are included in the segments’ income ($4 million in 2024; $- million in 2023).

(3)

Interest expense excludes amounts that are included in the segments’ income ($3 million in 2024; $3 million in 2023).

(4)

See Note 2 – Charges and Credits.

Revenue by Geographic Area

Revenue by geographic area was as follows:


	(Stated in millions)

	First Quarter
	2024		2023
North America	$	1,598	$	1,698
Latin America		1,654		1,618
Europe & Africa (1)		2,322		1,974
Middle East & Asia		3,080		2,393
Other		53		53
	$	8,707	$	7,736

(1)

Includes Russia and the Caspian region.

Summary of North America and International Revenue Disaggregated by Segment

North America and International revenue disaggregated by segment was as follows:


							(Stated in millions)

	First Quarter 2024
	North
	America			International			Other			Total
Digital & Integration	$	236		$	717		$	-		$	953
Reservoir Performance		130			1,592			3			1,725
Well Construction		604			2,707			57			3,368
Production Systems		647			2,164			7			2,818
Eliminations & other		(19	)		(124	)		(14	)		(157	)
	$	1,598		$	7,056		$	53		$	8,707


	First Quarter 2023
	North
	America			International			Other			Total
Digital & Integration	$	251		$	642		$	1		$	894
Reservoir Performance		120			1,380			3			1,503
Well Construction		711			2,493			57			3,261
Production Systems		626			1,574			7			2,207
Eliminations & other		(10	)		(104	)		(15	)		(129	)
	$	1,698		$	5,985		$	53		$	7,736

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Apr. 02, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Revenue		$ 8,707	$ 7,736
ChampionX
Business Acquisition [Line Items]
Revenue				$ 3,800
ChampionX \| Subsequent Event
Business Acquisition [Line Items]
Business acquisition, number of shares receivable for each share	0.735
Business acquisition, percentage of voting interests acquired	9.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense charged to income	$ 81	$ 76
Estimated amortization expense, remaining three quarters of 2024	244
Estimated amortization expense, 2025	306
Estimated amortization expense, 2026	297
Estimated amortization expense, 2027	293
Estimated amortization expense, 2028	283
Estimated amortization expense, 2029	$ 270

Long-term Debt - Additional Information (Detail) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, fair value	$ 10,000,000,000.0	$ 10,200,000,000
Committed credit facility agreement aggregated	5,000,000,000
Committed credit facility agreement, unused borrowing capacity	4,700,000,000
Short-term borrowings and current portion of long-term debt	1,430,000,000	1,123,000,000
Commercial paper programs mature in February 2027
Debt Instrument [Line Items]
Committed credit facility agreement aggregated	2,000,000,000
Commercial paper programs mature in December 2028
Debt Instrument [Line Items]
Committed credit facility agreement aggregated	3,000,000,000
Commercial paper borrowings
Debt Instrument [Line Items]
Long-term debt		$ 0
Short-term borrowings and current portion of long-term debt	$ 345,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(f))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Subparagraph (SX 210.12-04(a))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 470
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts on receivable	$ 333	$ 337

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Income Per Share (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Employee Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	20	24

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	9. Contingencies SLB is party to various legal proceedings from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. Management believes that the probability of a material loss with respect to any currently pending legal proceeding is remote. However, litigation is inherently uncertain and it is not possible to predict the ultimate disposition of any of these proceedings.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Segment Reporting Information [Line Items]

Revenue

$ 8,707

$ 7,736

Pretax segment operating income

1,649

1,391

Interest expense

113

117

Income Before Taxes

1,357

1,161

Digital Integration

Segment Reporting Information [Line Items]

Revenue

953

894

Reservoir Performance

Segment Reporting Information [Line Items]

Revenue

1,725

1,503

Well Construction

Segment Reporting Information [Line Items]

Revenue

3,368

3,261

Production Systems

Segment Reporting Information [Line Items]

Revenue

2,818

2,207

Eliminations & Other

Segment Reporting Information [Line Items]

Revenue

(157)

(129)

Operating Segments

Segment Reporting Information [Line Items]

Revenue

8,707

7,736

Interest income

Interest expense

Operating Segments | Digital Integration

Segment Reporting Information [Line Items]

Revenue

953

894

Pretax segment operating income

254

265

Operating Segments | Reservoir Performance

Segment Reporting Information [Line Items]

Revenue

1,725

1,503

Pretax segment operating income

339

242

Operating Segments | Well Construction

Segment Reporting Information [Line Items]

Revenue

3,368

3,261

Pretax segment operating income

690

672

Operating Segments | Production Systems

Segment Reporting Information [Line Items]

Revenue

2,818

2,207

Pretax segment operating income

400

205

Operating Segments | Eliminations & Other

Segment Reporting Information [Line Items]

Revenue

(157)

(129)

Pretax segment operating income

(34)

Eliminations & other

Segment Reporting Information [Line Items]

Corporate & other

^[1]

(191)

(169)

Interest income

^[2]

Interest expense

^[3]

(110)

(114)

Charges and credits

^[4]

$ (25)

$ 36

[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]	Interest income excludes amounts that are included in the segments’ income ($4 million in 2024; $- million in 2023).
[3]	Interest expense excludes amounts that are included in the segments’ income ($3 million in 2024; $3 million in 2023).
[4]	See Note 2 – Charges and Credits.

Charges and Credits

3 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Charges and Credits

2. Charges and Credits

2024


	(Stated in millions)

					Noncontrolling
	Pretax Charge		Tax Benefit		Interests		Net
Merger and integration	$	25	$	6	$	5	$	14

2023

On December 31, 2020, SLB contributed its onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating and Permian frac sand business to Liberty Energy Inc. (“Liberty”) in exchange for an equity interest in Liberty. During the first quarter of 2023, SLB sold all of its remaining approximately 9 million shares of Liberty and received net proceeds of $137 million. As a result, SLB recognized a pretax gain of $36 million ($28 million after-tax) which is classified in Interest & other income in the Consolidated Statement of Income.

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivatives Included in the Consolidated Balance Sheet

A summary of the amounts included in the Consolidated Balance Sheet relating to cross currency interest rate swaps was as follows:


	(Stated in millions)

	Mar. 31, 2024		Dec. 31, 2023
Accounts payable and accrued liabilities	$	11	$	-
Other Assets	$	17	$	36
Other Liabilities	$	98	$	67

Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of Income

The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income was as follows:


	(Stated in millions)

	Gain (Loss) Recognized in Income
	First Quarter
	2024			2023			Consolidated Statement of Income Classification
Derivatives designated as cash flow hedges:
Cross-currency interest rate swaps	$	(94	)	$	95		Cost of services/sales
Cross-currency interest rate swaps		(21	)		(22	)	Interest expense
Commodity contracts		(3	)		2		Revenue
Foreign exchange contracts		-			3		Cost of services/sales
Foreign exchange contracts		3			-		Revenue
	$	(115	)	$	78
Derivatives not designated as hedges:
Foreign exchange contracts	$	5		$	1		Cost of services/sales

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Registrant Name	SCHLUMBERGER LIMITED/NV
Entity Central Index Key	0000087347
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,429,337,724
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-4601
Entity Tax Identification Number	52-0684746
Entity Address, Address Line One	5599 San Felipe
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Incorporation, State or Country Code	P8
Entity Address, Country	US
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	513-2000
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	common stock, par value $0.01 per share
Security Exchange Name	NYSE
Trading Symbol	SLB

Segment Information - Revenue by Geographic Area (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Segment Reporting Information [Line Items]

Revenue

$ 8,707

$ 7,736

Operating Segments

Segment Reporting Information [Line Items]

Revenue

8,707

7,736

Operating Segments | North America

Segment Reporting Information [Line Items]

Revenue

1,598

1,698

Operating Segments | Latin America

Segment Reporting Information [Line Items]

Revenue

1,654

1,618

Operating Segments | Europe & Africa

Segment Reporting Information [Line Items]

Revenue

^[1]

2,322

1,974

Operating Segments | Middle East & Asia

Segment Reporting Information [Line Items]

Revenue

3,080

2,393

Operating Segments | Other

Segment Reporting Information [Line Items]

Revenue

$ 53

[1]	Includes Russia and the Caspian region.

- Definition

+ References

+ Details

Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Book Value	$ 5,789	$ 5,780
Accumulated Amortization	2,622	2,541
Net Book Value	3,167	3,239
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross Book Value	1,886	1,887
Accumulated Amortization	731	709
Net Book Value	1,155	1,178
Technology/Technical Know-How
Finite Lived Intangible Assets [Line Items]
Gross Book Value	1,516	1,516
Accumulated Amortization	795	770
Net Book Value	721	746
Tradenames
Finite Lived Intangible Assets [Line Items]
Gross Book Value	795	795
Accumulated Amortization	274	265
Net Book Value	521	530
Other
Finite Lived Intangible Assets [Line Items]
Gross Book Value	1,592	1,582
Accumulated Amortization	822	797
Net Book Value	$ 770	$ 785

CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue
Total Revenue	$ 8,707	$ 7,736
Interest & other income	84	92
Expenses
Research & engineering	182	174
General & administrative	121	91
Merger & integration	11
Interest	113	117
Income before taxes	1,357	1,161
Tax expense	259	217
Net income	1,098	944
Net income attributable to noncontrolling interests	30	10
Net income attributable to SLB	$ 1,068	$ 934
Basic income per share of SLB	$ 0.75	$ 0.65
Diluted income per share of SLB	$ 0.74	$ 0.65
Average shares outstanding:
Basic	1,431	1,426
Assuming dilution	1,447	1,446
Services
Revenue
Total Revenue	$ 5,676	$ 5,334
Expenses
Cost of services and sales	4,415	4,129
Product
Revenue
Total Revenue	3,031	2,402
Expenses
Cost of services and sales	$ 2,592	$ 2,156