Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY | |
Trading Symbol | SLB | |
Entity Registrant Name | SCHLUMBERGER LIMITED/NV | |
Entity Central Index Key | 87,347 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,391,475,510 | |
Entity Public Float | $ 109.9 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Revenue | ||||
Services | $ 20,859 | $ 31,765 | $ 44,138 | |
Product sales | 6,951 | 3,710 | 4,442 | |
Total Revenue | 27,810 | 35,475 | 48,580 | |
Interest & other income | 200 | 236 | 291 | |
Expenses | ||||
Cost of services | 17,876 | 25,259 | 33,792 | |
Cost of sales | 6,234 | 3,062 | 3,606 | |
Research & engineering | 1,012 | 1,094 | 1,217 | |
General & administrative | 403 | 494 | 475 | |
Impairments & other | 3,172 | 2,575 | 1,773 | |
Merger & integration | 648 | |||
Interest | 570 | 346 | 369 | |
Income (loss) from continuing operations before taxes | (1,905) | 2,881 | 7,639 | |
Taxes on income (loss) | (278) | 746 | 1,928 | |
Income (loss) from continuing operations | (1,627) | 2,135 | 5,711 | |
Loss from discontinued operations | (205) | |||
Net income (loss) | (1,627) | 2,135 | 5,506 | |
Net income attributable to noncontrolling interests | 60 | 63 | 68 | |
Net income (loss) attributable to Schlumberger | (1,687) | 2,072 | 5,438 | |
Schlumberger amounts attributable to: | ||||
Income (loss) from continuing operations | (1,687) | 2,072 | 5,643 | |
Loss from discontinued operations | (205) | |||
Net income (loss) attributable to Schlumberger | $ (1,687) | $ 2,072 | $ 5,438 | |
Basic earnings per share of Schlumberger | ||||
Income (loss) from continuing operations | $ (1.24) | $ 1.63 | $ 4.36 | |
Loss from discontinued operations | (0.16) | |||
Net income (loss) | (1.24) | 1.63 | 4.20 | |
Diluted earnings per share of Schlumberger | ||||
Income (loss) from continuing operations | (1.24) | 1.63 | 4.31 | |
Loss from discontinued operations | (0.16) | |||
Net income (loss) | [1] | $ (1.24) | $ 1.63 | $ 4.16 |
Average shares outstanding: | ||||
Basic | 1,357 | 1,267 | 1,295 | |
Assuming dilution | 1,357 | 1,275 | 1,308 | |
[1] | Amounts may not add due to rounding. |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income (loss) | $ (1,627) | $ 2,135 | $ 5,506 |
Currency translation adjustments | |||
Unrealized net change arising during the period | (83) | (522) | (463) |
Marketable securities | |||
Unrealized gain (loss) arising during the period | 21 | (50) | (166) |
Reclassification to net income - impairment charge | 40 | ||
Cash flow hedges | |||
Net loss on cash flow hedges | (101) | (178) | (238) |
Reclassification to net income (loss) of net realized loss | 121 | 235 | 113 |
Actuarial gain (loss) | |||
Actuarial loss arising during the period | (289) | (210) | (1,285) |
Amortization to net income of net actuarial loss | 157 | 306 | 177 |
Prior service cost | |||
Amortization to net income (loss) of net prior service cost | 102 | 101 | 128 |
Income taxes on pension and other postretirement benefit plans | (13) | (74) | 82 |
Comprehensive income | (1,712) | 1,783 | 3,854 |
Comprehensive income attributable to noncontrolling interests | 60 | 63 | 68 |
Comprehensive income (loss) attributable to Schlumberger | $ (1,772) | $ 1,720 | $ 3,786 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash | $ 2,929 | $ 2,793 |
Short-term investments | 6,328 | 10,241 |
Receivables less allowance for doubtful accounts (2016 - $397; 2015 - $333) | 9,387 | 8,780 |
Inventories | 4,225 | 3,756 |
Deferred taxes | 208 | |
Other current assets | 1,058 | 1,134 |
Current assets total | 23,927 | 26,912 |
Fixed Income Investments, held to maturity | 238 | 418 |
Investments in Affiliated Companies | 1,243 | 3,311 |
Fixed Assets less accumulated depreciation | 12,821 | 13,415 |
Multiclient Seismic Data | 1,073 | 1,026 |
Goodwill | 24,990 | 15,605 |
Intangible Assets | 9,855 | 4,569 |
Other Assets | 3,809 | 2,749 |
Total Assets | 77,956 | 68,005 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 10,016 | 7,727 |
Estimated liability for taxes on income | 1,188 | 1,203 |
Long-term debt - current portion | 1,975 | 3,011 |
Short-term borrowings | 1,178 | 1,546 |
Dividends payable | 702 | 634 |
Current Liabilities Total | 15,059 | 14,121 |
Long-term Debt | 16,463 | 14,442 |
Postretirement Benefits | 1,495 | 1,434 |
Deferred Taxes | 1,880 | 1,075 |
Other Liabilities | 1,530 | 1,028 |
Total Liabilities | 36,427 | 32,100 |
Equity | ||
Common stock | 12,801 | 12,693 |
Treasury stock | (3,550) | (13,372) |
Retained earnings | 36,470 | 40,870 |
Accumulated other comprehensive loss | (4,643) | (4,558) |
Schlumberger stockholders' equity | 41,078 | 35,633 |
Noncontrolling interests | 451 | 272 |
Total equity | 41,529 | 35,905 |
Liabilities and stockholders equity | $ 77,956 | $ 68,005 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Statement Of Financial Position [Abstract] | ||||
Allowance for doubtful accounts on receivable | $ 397 | $ 333 | $ 275 | $ 384 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Cash flows from operating activities: | ||||
Net income (loss) | $ (1,627) | $ 2,135 | $ 5,506 | |
Add: Loss from discontinued operations | 205 | |||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||
Impairments and other charges | 3,820 | 2,575 | 1,773 | |
Depreciation and amortization | [1] | 4,094 | 4,078 | 4,094 |
Pension and other postretirement benefits expense | 187 | 438 | 355 | |
Stock-based compensation expense | 267 | 326 | 329 | |
Pension and other postretirement benefits funding | (174) | (346) | (390) | |
Earnings of equity method investments, less dividends received | (60) | (125) | (113) | |
Change in assets and liabilities: | ||||
Decrease (increase) in receivables | [2] | 1,098 | 2,176 | (187) |
Decrease (increase) in inventories | [2] | 800 | 625 | (36) |
Decrease in other current assets | [2] | 308 | 76 | 119 |
(Increase) decrease in other assets | [2] | (488) | 16 | (134) |
Decrease in accounts payable and accrued liabilities | [2] | (1,680) | (2,656) | (36) |
(Decrease) increase in estimated liability for taxes on income | [2] | (110) | (699) | 104 |
Increase (decrease) in other liabilities | [2] | 77 | 24 | (79) |
Other | [2] | (251) | 162 | (315) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 6,261 | 8,805 | 11,195 | |
Cash flows from investing activities: | ||||
Capital expenditures | (2,055) | (2,410) | (3,976) | |
SPM investments | (1,031) | (953) | (740) | |
Multiclient seismic data capitalized | (630) | (486) | (321) | |
Business acquisitions and investments, net of cash acquired | (2,398) | (443) | (1,008) | |
Sale (purchase) of investments, net | 5,544 | (5,848) | 446 | |
Other | (54) | (112) | 19 | |
NET CASH USED IN INVESTING ACTIVITIES | (624) | (10,252) | (5,580) | |
Cash flows from financing activities: | ||||
Dividends paid | (2,647) | (2,419) | (1,968) | |
Proceeds from employee stock purchase plan | 231 | 296 | 295 | |
Proceeds from exercise of stock options | 184 | 152 | 530 | |
Stock repurchase program | (778) | (2,182) | (4,678) | |
Proceeds from issuance of long-term debt | 3,640 | 9,565 | 2,289 | |
Repayment of long-term debt | (5,630) | (3,771) | (2,878) | |
Net (decrease) increase in short-term borrowings | (387) | (3) | 552 | |
Other | (41) | (264) | (38) | |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (5,428) | 1,374 | (5,896) | |
Cash flow (used in) provided by discontinued operations - operating activities | (233) | 24 | ||
Net increase (decrease) in cash before translation effect | 209 | (306) | (257) | |
Translation effect on cash | (73) | (31) | (85) | |
Cash, beginning of period | 2,793 | 3,130 | 3,472 | |
Cash, end of period | $ 2,929 | $ 2,793 | $ 3,130 | |
[1] | Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments. | |||
[2] | Net of the effect of business acquisitions and divestitures. |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Cameron | Common Stock Issued | Common Stock IssuedCameron | Common Stock In Treasury | Common Stock In TreasuryCameron | Retained Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interests |
Balance at Dec. 31, 2013 | $ 39,635 | $ 12,192 | $ (8,135) | $ 37,966 | $ (2,554) | $ 166 | |||
Balance, shares at Dec. 31, 2013 | 1,307 | 1,434 | |||||||
Treasury shares, Balance at Dec. 31, 2013 | (127) | ||||||||
Net income (loss) | $ 5,506 | 5,438 | 68 | ||||||
Currency translation adjustments | (463) | (463) | |||||||
Changes in unrealized gain on marketable securities | (166) | (166) | |||||||
Changes in fair value of cash flow hedges | (125) | (125) | |||||||
Pension and other postretirement benefit plans | (898) | (898) | |||||||
Shares sold to optionees, less shares exchanged | $ 530 | $ (26) | $ 556 | ||||||
Shares sold to optionees, less shares exchanged, shares | 9 | 9 | |||||||
Vesting of restricted stock | (79) | $ 79 | |||||||
Vesting of restricted stock, shares | 1 | 1 | |||||||
Shares issued under employee stock purchase plan | $ 295 | 33 | $ 262 | ||||||
Shares issued under employee stock purchase plan, shares | 4 | 4 | |||||||
Stock repurchase program | $ (4,678) | $ (4,678) | |||||||
Stock repurchase program, shares | (48) | (48) | |||||||
Stock-based compensation expense | $ 329 | 329 | |||||||
Dividends declared | (2,071) | (2,071) | |||||||
Shares issued for acquisition | $ 213 | 72 | $ 141 | ||||||
Shares issued for acquisition, shares | 2 | 2 | |||||||
Other | $ (58) | (26) | $ 3 | (35) | |||||
Balance at Dec. 31, 2014 | $ 38,049 | $ 12,495 | (11,772) | 41,333 | (4,206) | 199 | |||
Balance, shares at Dec. 31, 2014 | 1,275 | 1,434 | |||||||
Treasury shares, Balance at Dec. 31, 2014 | (159) | ||||||||
Net income (loss) | $ 2,135 | 2,072 | 63 | ||||||
Currency translation adjustments | (522) | (522) | |||||||
Changes in unrealized gain on marketable securities | (10) | (10) | |||||||
Changes in fair value of cash flow hedges | 57 | 57 | |||||||
Pension and other postretirement benefit plans | 123 | 123 | |||||||
Shares sold to optionees, less shares exchanged | $ 152 | $ (38) | $ 190 | ||||||
Shares sold to optionees, less shares exchanged, shares | 3 | 3 | |||||||
Vesting of restricted stock | (112) | $ 112 | |||||||
Vesting of restricted stock, shares | 1 | 1 | |||||||
Shares issued under employee stock purchase plan | $ 296 | 17 | $ 279 | ||||||
Shares issued under employee stock purchase plan, shares | 4 | 4 | |||||||
Stock repurchase program | $ (2,182) | $ (2,182) | |||||||
Stock repurchase program, shares | (27) | (27) | |||||||
Stock-based compensation expense | $ 326 | 326 | |||||||
Dividends declared | (2,535) | (2,535) | |||||||
Other | 16 | 5 | $ 1 | 10 | |||||
Balance at Dec. 31, 2015 | $ 35,905 | $ 12,693 | (13,372) | 40,870 | (4,558) | 272 | |||
Balance, shares at Dec. 31, 2015 | 1,256 | 1,434 | |||||||
Treasury shares, Balance at Dec. 31, 2015 | (178) | ||||||||
Net income (loss) | $ (1,627) | (1,687) | 60 | ||||||
Currency translation adjustments | (83) | (83) | |||||||
Changes in unrealized gain on marketable securities | 21 | 21 | |||||||
Changes in fair value of cash flow hedges | 20 | 20 | |||||||
Pension and other postretirement benefit plans | (43) | (43) | |||||||
Shares sold to optionees, less shares exchanged | $ 184 | $ (82) | $ 266 | ||||||
Shares sold to optionees, less shares exchanged, shares | 3 | 3 | |||||||
Vesting of restricted stock | (122) | $ 122 | |||||||
Vesting of restricted stock, shares | 1 | 1 | |||||||
Shares issued under employee stock purchase plan | $ 231 | (55) | $ 286 | ||||||
Shares issued under employee stock purchase plan, shares | 4 | 4 | |||||||
Stock repurchase program | $ (778) | $ (778) | |||||||
Stock repurchase program, shares | (11) | (11) | |||||||
Stock-based compensation expense | $ 267 | 267 | |||||||
Dividends declared | (2,713) | (2,713) | |||||||
Shares issued for acquisition | $ 10,027 | $ 103 | $ 9,924 | ||||||
Shares issued for acquisition, shares | 138 | 138 | |||||||
Acquisition of noncontrolling interest | 106 | 106 | |||||||
Other | 12 | (3) | $ 2 | 13 | |||||
Balance at Dec. 31, 2016 | $ 41,529 | $ 12,801 | $ (3,550) | $ 36,470 | $ (4,643) | $ 451 | |||
Balance, shares at Dec. 31, 2016 | 1,391 | 1,434 | |||||||
Treasury shares, Balance at Dec. 31, 2016 | (43) |
CONSOLIDATED STATEMENT OF STOC8
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Retained Earnings | |||
Dividends declared, per share | $ 2 | $ 2 | $ 1.60 |
Business Description
Business Description | 12 Months Ended |
Dec. 31, 2016 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Business Description | 1. Business Description Schlumberger Limited (Schlumberger N.V., incorporated in Curaçao) and its consolidated subsidiaries (collectively, “Schlumberger”) comprise the world’s leading supplier of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. |
Summary of Accounting Policies
Summary of Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Accounting Policies | 2. Summary of Accounting Policies The Consolidated Financial Statements Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, Schlumberger evaluates its estimates, including those related to collectibility of accounts receivable; revenue recognized under the percentage-of-completion method; recoverability of fixed assets, goodwill, intangible assets, Schlumberger Production Management investments and investments in affiliates; income taxes; multiclient seismic data; contingencies and actuarial assumptions for employee benefit plans. Schlumberger bases its estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Revenue Recognition Schlumberger recognizes revenue based upon purchase orders, contracts or other persuasive evidence of an arrangement with the customer that include fixed or determinable prices provided that collectibility is reasonably assured. Revenue is recognized for services when they are rendered. Revenue is recognized for products upon delivery and when the customer assumes the risks and rewards of ownership. Revenue is recognized for certain long-term construction-type contracts, primarily in the Cameron Group, based on the percentage-of-completion method. These contracts involve significant design and engineering efforts in order to satisfy custom designs for customer-specific applications. Under the percentage-of-completion method, revenue is recognized as work progresses on each such contract. Progress is measured by the ratio of actual costs incurred to date on the project in relation to total estimated project costs. Any expected losses on a project are recorded in full in the period in which they become probable. Progress billings are generally issued upon completion of certain phases of work as stipulated in the contract. Revenue in excess of billings is included within Receivables less allowance for doubtful accounts Consolidated Balance Sheet Accounts payable and accrued liabilities Consolidated Balance Sheet Revenue from seismic contract services performed on a dayrate basis is recognized as the service is performed. Revenue from other services, including pre-funded multiclient surveys, is recognized as the seismic data is acquired and/or processed on a proportionate basis as work is performed. This method requires revenue to be recognized based upon quantifiable measures of progress, such as square kilometers acquired. Multiclient data surveys are licensed or sold to customers on a non-transferable basis. Revenue from sales of completed multiclient data surveys is recognized upon obtaining a signed licensing agreement and providing customers with access to such data. Revenue is occasionally generated from contractual arrangements that include multiple deliverables. Revenue from these arrangements is recognized as each item is delivered based on its relative fair value, provided that the delivered items have stand-alone value to the customer. Revenue derived from the sale of licenses of Schlumberger software may include installation, maintenance, consulting and training services. If services are not essential to the functionality of the software, the revenue for each element of the contract is recognized separately based on its respective vendor specific objective evidence of fair value when all of the following conditions are met: a signed contract is obtained, delivery has occurred, the fee is fixed or determinable and collectibility is probable. Short-term and Fixed Income Investments The Consolidated Balance Sheet Short-term investments Fixed Income Investments, held to maturity Short-term investments For purposes of the Consolidated Statement of Cash Flows Short-term investments Fixed Income Investments, held to maturity at December 31, 2016 of $238 million mature as follows: $225 million in 2018 and $13 million in 2019. Investments in Affiliated Companies Investments in companies in which Schlumberger does not have a controlling financial interest, but over which it has significant influence are accounted for using the equity method. Schlumberger’s share of the after-tax earnings of equity method investees is included in Interest and other income Accumulated other comprehensive loss Equity and cost method investments as well as investments in publicly traded companies are classified as Investments in Affiliated Companies Consolidated Balance Sheet Multiclient Seismic Data Schlumberger’s multiclient library consists of completed and in-process seismic surveys that are licensed on a nonexclusive basis. Schlumberger capitalizes costs directly incurred in acquiring and processing the multiclient seismic data. Such costs are charged to Cost of revenue The carrying value of the multiclient library is reviewed for impairment annually as well as when an event or change in circumstance indicating impairment may have occurred. Adjustments to the carrying value are recorded when it is determined that estimated future cash flows, which involve significant judgment on the part of Schlumberger, would not be sufficient to recover the carrying value of the surveys . Significant adverse changes in Schlumberger’s estimated future cash flows could result in impairment charges in a future period. Schlumberger Production Management Schlumberger Production Management (SPM) projects are focused on developing and managing production on behalf of Schlumberger’s clients under long-term agreements. Schlumberger will invest its own services, products and in some cases cash, into the field development activities and operations. Although in certain arrangements Schlumberger is paid for a portion of the services or products it provides, generally Schlumberger will not be paid at the time of providing its services or upon delivery of its products. Instead, Schlumberger is compensated based upon cash flow generated or on a fee-per-barrel basis. This may include certain arrangements whereby Schlumberger is only compensated based upon incremental production it helps deliver above a mutually agreed baseline. Schlumberger capitalizes its cash investments in a project as well as the direct costs associated with providing services or products for which Schlumberger will be compensated when the related production is achieved. Revenue is recognized as the related production is achieved. These capitalized investments are amortized to the Consolidated Statement of Income The unamortized portion of Schlumberger’s investments in SPM projects was $2.458 billion and $1.829 billion at December 31, 2016 and 2015, respectively. These amounts are included within Other Assets Consolidated Balance Sheet Concentration of Credit Risk Schlumberger’s assets that are exposed to concentrations of credit risk consist primarily of cash, short-term investments, fixed income investments held to maturity, receivables from clients and derivative financial instruments. Schlumberger places its cash, short-term investments and fixed income investments held to maturity with financial institutions and corporations and limits the amount of credit exposure with any one of them. Schlumberger regularly evaluates the creditworthiness of the issuers in which it invests. By using derivative financial instruments to hedge certain exposures, Schlumberger exposes itself to some credit risk. Schlumberger minimizes this credit risk by entering into transactions with high-quality counterparties, limiting the exposure to each counterparty and monitoring the financial condition of its counterparties. Schlumberger operates in more than 85 countries and as such, its accounts receivable are spread over many countries and customers. The United States, Venezuela and Ecuador each represented approximately 11%, 12% and 12% of Schlumberger’s accounts receivable balance at December 31, 2016. No other country accounted for greater than 10% of Schlumberger’s accounts receivable balance. Schlumberger has continued to experience delays in payment from its national oil company customer in Venezuela. Schlumberger maintains an allowance for uncollectible accounts receivable based on expected collectibility and performs ongoing credit evaluations of its customers’ financial condition. If the financial condition of its customers were to deteriorate resulting in an impairment of their ability to make payments, adjustments to the allowance may be required. Earnings per Share The following is a reconciliation from basic to diluted earnings per share from continuing operations of Schlumberger for each of the last three years: (Stated in millions, except per share amounts) Schlumberger Income (Loss) from Continuing Operations Average Shares Outstanding Earnings (Loss) per Share from Continuing Operations 2016: Basic $ (1,687 ) 1,357 $ (1.24 ) Assumed exercise of stock options - - Unvested restricted stock - - Diluted $ (1,687 ) 1,357 $ (1.24 ) 2015: Basic $ 2,072 1,267 $ 1.63 Assumed exercise of stock options - 4 Unvested restricted stock - 4 Diluted $ 2,072 1,275 $ 1.63 2014: Basic $ 5,643 1,295 $ 4.36 Assumed exercise of stock options - 9 Unvested restricted stock - 4 Diluted $ 5,643 1,308 $ 4.31 Employee stock options to purchase 47 million shares of common stock as well as 5 million unvested restricted stock units were outstanding at December 31, 2016, but were not included in the computation of diluted loss per share as their effect, if included, would have been anti-dilutive. Employee stock options to purchase Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases Consolidated Balance Sheet In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. |
Charges and Credits
Charges and Credits | 12 Months Ended |
Dec. 31, 2016 | |
Restructuring And Related Activities [Abstract] | |
Charges and Credits | 3. Charges and Credits Schlumberger recorded the following charges and credits in continuing operations during 2016, 2015 and 2014: 2016 • Schlumberger reduced its headcount during the second quarter of 2016 as a result of persistent unfavorable oil and gas industry market conditions and the expected impact on customer activity levels. Schlumberger recorded a $646 million charge during the second quarter of 2016 associated with this headcount reduction. During the fourth quarter of 2016, Schlumberger decided to further reduce its headcount in order to streamline its support cost structure. Schlumberger recorded an additional $234 million charge during the fourth quarter associated with these actions. Approximately $400 million of the costs remain unpaid as of December 31, 2016. • During the fourth quarter of 2016, Schlumberger recorded $302 million of restructuring charges consisting of the following: $165 million of facility closure costs due to the expected sale of certain owned properties and the termination of certain facility leases; $98 million of asset write-offs associated with exiting certain activities; and $39 million of contract termination costs. • During the fourth quarter of 2016, the Central Bank of Egypt took the decision to float its currency and the Egyptian pound devalued relative to the US dollar. As a result, Schlumberger recorded a $63 million devaluation charge during the fourth quarter of 2016. • As a result of the persistent unfavorable oil and gas industry market conditions that continued to deteriorate in the first half of 2016, and the related impact on first half operating results and expected customer activity levels, Schlumberger determined that the carrying values of certain assets were no longer recoverable and also took certain decisions that resulted in the following impairment and other charges during the second quarter of 2016: - $209 million impairment of pressure pumping equipment in North America. - $165 million impairment of facilities in North America. - $684 million of other fixed asset impairments primarily relating to underutilized equipment. - $616 million write-down of the carrying value of certain inventory to its net realizable value. - $198 million impairment of certain multiclient seismic data, largely related to the US Gulf of Mexico. - $55 million of other restructuring costs. The fair value of the impaired fixed assets and multiclient seismic data was estimated based on the projected present value of future cash flows that these assets are expected to generate. Such estimates included unobservable inputs that required significant judgments. Additional charges may be required in future periods should industry conditions worsen. The above items are classified in Impairments & other Consolidated Statement of Income • In connection with Schlumberger’s April 2016 acquisition of Cameron International Corporation (“Cameron”) (see Note 4 - Acquisitions Merger & integration Consolidated Statement of Income The following is a summary of these charges and credits, of which $3.172 billion were classified as Impairments & other Merger & integration Consolidated Statement of Income (Stated in millions) Pretax Tax Net Workforce reductions $ 880 $ 69 $ 811 Other fixed asset impairments 684 52 632 Inventory write-downs 616 49 567 Amortization of inventory fair value adjustment 299 90 209 Facility closure costs 226 53 173 North America pressure pumping asset impairments 209 67 142 Multiclient seismic data impairment 198 62 136 Facility impairments 165 58 107 Other merger and integration-related 160 28 132 Costs associated with exiting certain activities 98 23 75 Merger-related employee benefits 83 13 70 Currency devaluation loss in Egypt 63 - 63 Other restructuring charges 55 - 55 Professional fees 45 10 35 Contract termination costs 39 9 30 $ 3,820 $ 583 $ 3,237 2015 • Schlumberger reduced its headcount during the first quarter of 2015 as a result of the severe fall in activity in North America, combined with the impact of lower international activity due to customer budget cuts driven by lower oil prices. Schlumberger recorded a $390 million charge during the first quarter associated with this headcount reduction as well as an incentivized leave of absence program. Based on the activity outlook for 2016, as well as to further streamline its support structure, Schlumberger decided to further reduce its headcount and expand its incentivized leave of absence program during the fourth quarter of 2015. Schlumberger recorded an additional $530 million charge during the fourth quarter associated with these actions. • As a result of unfavorable oil and gas industry market conditions that continued to deteriorate and their impact on the activity outlook, Schlumberger determined that the carrying values of certain assets were no longer recoverable and also took certain decisions that resulted in the following impairment and restructuring charges during the fourth quarter of 2015: - $776 million of fixed asset impairments primarily related to underutilized pressure pumping and other equipment in North America, as well as certain lower-tier drilling rigs. - $269 million to write-down the carrying value of certain inventory, primarily in North America. - $182 million to reduce the carrying value of an investment in an SPM project to its estimated fair value, as a result of the decline in commodity prices and considering this project is approaching the end of its contractual term. - $177 million associated with certain of Schlumberger’s owned and leased facilities, including the expected sale of certain properties and the termination of certain leases. - $77 million relating to assets that are no longer recoverable as a result of geopolitical issues in certain countries in the Middle East. - $41 million relating to contract termination costs. - $84 million of other charges associated with current market conditions, including $40 million relating to an other-than-temporary impairment of marketable securities and $15 million relating to the impairment of an equity-method investment. Certain of these impairment charges were estimated based on the projected present value of future cash flows, which included unobservable inputs that required significant judgments . • In February 2015, the Venezuelan government replaced the SICAD II exchange rate (described in further detail below) with a new foreign exchange market system known as SIMADI. The SIMADI exchange rate was approximately 192 Venezuelan Bolivares fuertes to the US dollar as of March 31, 2015. As a result, Schlumberger recorded a $49 million devaluation charge during the first quarter of 2015, reflecting the adoption of the SIMADI exchange rate. This change results in a reduction in the US dollar reported amount of local currency denominated revenues, expenses and, consequently, income before taxes and net income in Venezuela. If Schlumberger had applied an exchange rate of 192 Venezuelan Bolivares fuertes to the US dollar throughout 2014, it would have reduced Schlumberger earnings by approximately $0.09 per share. The following is a summary of these charges and credits, all of which were classified as Impairments & other Consolidated Statement of Income (Stated in millions) Pretax Tax Net Workforce reductions $ 920 $ 107 $ 813 Fixed asset impairments 776 141 635 Inventory write-downs 269 27 242 Impairment of SPM project 182 36 146 Facility closures 177 37 140 Geopolitical events 77 - 77 Currency devaluation loss in Venezuela 49 - 49 Contract termination costs 41 2 39 Other 84 7 77 $ 2,575 $ 357 $ 2,218 2014 • During the fourth quarter of 2014, Schlumberger restructured its WesternGeco marine seismic fleet in order to lower its operating costs. Three previous-generation acquisition vessels with lower towing capacity and higher operating costs will be converted to source vessels, allowing for the termination of two third-party source vessel leases and the retirement of two owned source vessels. As a result of this restructuring, Schlumberger performed an impairment test and determined that the carrying values of certain of its vessels exceeded their respective fair values by $590 million. This impairment charge related to the six Explorer-class vessels that were acquired at a premium in Schlumberger’s 2007 acquisition of Eastern Echo Holdings Plc. The fair value of these vessels was estimated primarily based on the replacement cost method, which was largely based on unobservable inputs that required significant judgments. In addition to the $590 million impairment charge relating to these six vessels, Schlumberger also recorded an $85 million impairment charge relating to a seismic intangible asset and $131 million of other charges primarily related to lease termination costs and other seismic assets as a result of the restructuring. Schlumberger did not incur any significant cash expenditures as a result of these charges. • During 2014, Venezuela enacted certain changes to its foreign exchange system such that, in addition to the official rate of 6.3 Venezuelan Bolivares fuertes per US dollar, there were two other legal exchange rates that could be obtained via different exchange rate mechanisms at the time. These changes included the expansion of what was known as the SICAD I auction rate and the introduction of the SICAD II auction process. The SICAD I and SICAD II exchange rates were approximately 11 and 50 Venezuelan Bolivares fuertes to the US dollar, respectively, at December 31, 2014. Schlumberger had historically applied the official exchange rate to remeasure local currency transactions and balances into US dollars. Effective December 31, 2014, Schlumberger concluded that it was appropriate to apply the SICAD II exchange rate as it believed that rate best represented the economics of Schlumberger’s business activity in Venezuela. As a result, Schlumberger recorded a $472 million devaluation charge during the fourth quarter of 2014. • In response to lower commodity pricing and anticipated lower exploration and production spending in 2015, Schlumberger decided during the fourth quarter of 2014 to reduce its overall headcount primarily to better align with anticipated activity levels for 2015. As a result of these reductions, Schlumberger recorded a charge of $296 million in the fourth quarter of 2014. • During the fourth quarter of 2014, Schlumberger determined that, primarily as a result of the recent decline in commodity prices, the carrying value of its investment in an SPM development project in the Eagle Ford Shale was in excess of its fair value. Accordingly, Schlumberger recorded a $199 million impairment charge. The fair value of this investment was estimated based on the projected present value of future cash flows. The following is a summary of these charges, all of which were classified as Impairments & other Consolidated Statement of Income (Stated in millions) Pretax Tax Net WesternGeco restructuring $ 806 $ 25 $ 781 Currency devaluation loss in Venezuela 472 - 472 Workforce reduction 296 37 259 Impairment of SPM project 199 72 127 $ 1,773 $ 134 $ 1,639 |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | 4. Acquisitions Cameron On April 1, 2016, Schlumberger acquired all of the outstanding shares of Cameron, a leading provider of flow equipment products, systems and services to the oil and gas industry worldwide. The acquisition is expected to create technology-driven growth by integrating Schlumberger reservoir and well technologies with Cameron wellhead and surface equipment, flow control and processing technology. The combination of the two complementary technology portfolios provides the industry’s most comprehensive range of products and services, from exploration to production and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance. Under the terms of the merger agreement, Cameron became a wholly-owned subsidiary of Schlumberger. Each share of Cameron common stock issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive 0.716 shares of Schlumberger stock and $14.44 in cash. Calculation of Consideration Transferred The following details the fair value of the consideration transferred to effect the acquisition of Cameron: (stated in millions, except exchange ratio and per share amounts) Equity consideration: Number of shares of Cameron stock outstanding 192 Exchange ratio 0.716 Schlumberger shares of common stock issued 138 Schlumberger closing stock share price on April 1, 2016 $ 72.12 Equity consideration $ 9,924 Cash consideration: Number of shares of Cameron stock outstanding 192 Cash consideration per Cameron share $ 14.44 Cash consideration 2,776 Other: Fair value of replacement equity awards 103 Total fair value of the consideration transferred $ 12,803 Certain amounts reflect rounding adjustments Preliminary Allocation of Consideration Transferred to Net Assets Acquired The following amounts represent the preliminary estimates of the fair value of assets acquired and liabilities assumed in the merger. The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained. These amounts, which are not expected to differ materially from current estimates, will be finalized in the first quarter of 2017. (Stated in millions) Cash $ 785 Short-term investments 1,448 Accounts receivable 1,669 Inventories (1) 2,350 Fixed assets 1,320 Intangible assets: Customer relationships (weighted-average life of 25 years) 2,371 Technology/Technical know-how (weighted-average life of 16 years) 1,736 Tradenames (weighted-average life of 25 years) 1,225 Other assets 511 Accounts payable and accrued liabilities (2,604 ) Long-term debt (2) (3,018 ) Deferred taxes (3) (1,343 ) Other liabilities (538 ) Sub-total $ 5,912 Less: Investment in OneSubsea (4) (2,065 ) Noncontrolling interests (57 ) Total identifiable net assets $ 3,790 Goodwill (5) 9,013 Total consideration transferred $ 12,803 (1) (2) (3) (4) (5) Supplemental Pro Forma Financial Information Cameron’s results of operations have been included in Schlumberger’s financial statements for periods subsequent to the closing of the acquisition on April 1, 2016. Businesses acquired from Cameron contributed revenues of approximately $4 billion and pretax operating income of approximately $0.7 billion for the period from April 1, 2016 through December 31, 2016. The following supplemental pro forma results of operations assume that Cameron had been acquired on January 1, 2015. The supplemental pro forma financial information was prepared based on the historical financial information of Schlumberger and Cameron and has been adjusted to give effect to pro forma adjustments that are both directly attributable to the transaction and factually supportable. The pro forma amounts reflect certain adjustments to amortization expense, interest expense and income taxes resulting from purchase accounting. The pro forma results for the year ended December 31, 2016 reflect adjustments to exclude after-tax merger and integration costs of $285 million and after-tax charges relating to the amortization of the inventory fair value adjustment of $209 million. As required by generally accepted accounting principles, the pro forma results for the year ended December 31, 2015 have been adjusted to include after-tax adjustments for merger and integration costs of $285 million and the after-tax charges relating to the amortization of the inventory fair value adjustment of $209 million. The supplemental pro forma financial information presented below is unaudited and does not include any anticipated cost savings or the expected realization of other synergies associated with this transaction. Accordingly, this supplemental pro forma financial information is presented for informational purposes only and is not necessarily indicative of what the actual results of operations of the combined company would have been had the acquisition occurred on January 1, 2015, nor is it indicative of future results of operations. (Stated in millions, except per share amounts) 2016 2015 Revenue $ 29,438 $ 44,306 Net income (loss) attributable to Schlumberger $ (1,419 ) $ 2,000 Diluted earnings (loss) per share $ (1.02 ) $ 1.42 Other Schlumberger made other acquisitions and investments for cash payments, net of cash acquired, of $407 million during 2016, $443 million during 2015, and $1.008 billion during 2014. Additionally, during 2014 Schlumberger issued 2.1 million shares of its common stock, valued at $213 million, in connection with an acquisition. None of these transactions were significant to Schlumberger’s consolidated financial statements, either individually or in the aggregate. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Inventories | 5. Inventories A summary of inventories, which are stated at the lower of average cost or market, follows: (Stated in millions) 2016 2015 Raw materials & field materials $ 1,720 $ 2,300 Work in progress 610 178 Finished goods 1,895 1,278 $ 4,225 $ 3,756 |
Fixed Assets
Fixed Assets | 12 Months Ended |
Dec. 31, 2016 | |
Property Plant And Equipment [Abstract] | |
Fixed Assets | 6. Fixed Assets A summary of fixed assets follows: (Stated in millions) 2016 2015 Land $ 479 $ 425 Buildings & improvements 4,849 3,960 Machinery & equipment 33,834 31,885 Seismic vessels 846 850 40,008 37,120 Less: Accumulated depreciation 27,187 23,705 $ 12,821 $ 13,415 The estimated useful lives of Buildings & improvements are primarily 25 to 30 years. The estimated useful lives of Machinery & equipment are primarily 5 to 10 years. Seismic vessels are depreciated over periods ranging from 20 to 30 years. Depreciation expense, which is recorded on a straight-line basis, was $2.7 billion, $3.2 billion and $3.2 billion in 2016, 2015 and 2014, respectively. |
Multiclient Seismic Data
Multiclient Seismic Data | 12 Months Ended |
Dec. 31, 2016 | |
Multiclient Seismic Data [Abstract] | |
Multiclient Seismic Data | 7. Multiclient Seismic Data The change in the carrying amount of multiclient seismic data is as follows: (Stated in millions) 2016 2015 Balance at beginning of year $ 1,026 $ 793 Capitalized in period 630 486 Charged to expense (385 ) (253 ) Impairment charge (see Note 3) (198 ) - $ 1,073 $ 1,026 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill | 8. Goodwill The changes in the carrying amount of goodwill by reporting unit were as follows: (Stated in millions) Reservoir Characterization Drilling Production Cameron Total Balance, January 1, 2015 $ 3,812 $ 8,488 $ 3,187 $ - $ 15,487 Acquisitions 38 130 76 - 244 Impact of changes in exchange rates (52 ) (34 ) (40 ) - (126 ) Balance, December 31, 2015 3,798 8,584 3,223 - 15,605 Acquisition of Cameron 790 1,490 1,170 5,563 9,013 Other acquisitions 79 24 242 - 345 Reallocation 146 - - (146 ) - Impact of changes in exchange rates 7 16 4 - 27 Balance, December 31, 2016 $ 4,820 $ 10,114 $ 4,639 $ 5,417 $ 24,990 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 9. Intangible Assets A summary of intangible assets follows: (Stated in millions) 2016 2015 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer Relationships $ 4,938 $ 865 $ 4,073 $ 2,489 $ 645 $ 1,844 Technology/Technical Know-How 3,655 835 2,820 1,864 653 1,211 Tradenames 2,847 458 2,389 1,625 367 1,258 Other 1,122 549 573 513 257 256 $ 12,562 $ 2,707 $ 9,855 $ 6,491 $ 1,922 $ 4,569 Customer relationships are generally amortized over periods ranging from 18 to 28 years, technology/technical know-how are generally amortized over periods ranging from 10 to 18 years, and tradenames are generally amortized over periods ranging from 15 to 30 years. Amortization expense was $567 million in 2016, $354 million in 2015 and $344 million in 2014. Based on the carrying value of intangible assets at December 31, 2016, amortization expense for the subsequent five years is estimated to be as follows: 2017: $677 million, 2018: $669 million, 2019: $647 million, 2020: $606 million and 2021: $581 million. |
Long-term Debt and Debt Facilit
Long-term Debt and Debt Facility Agreements | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-term Debt and Debt Facility Agreements | 10. Long-term Debt and Debt Facility Agreements Long-term Debt consists of the following: (Stated in millions) 2016 2015 4.00% Senior Notes due 2025 $ 1,740 $ 1,741 3.30% Senior Notes due 2021 1,594 1,597 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,496 2.35% Senior Notes due 2018 1,297 1,297 4.20% Senior Notes due 2021 1,100 1,100 2.40% Senior Notes due 2022 996 999 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 622 - 1.50% Guaranteed Notes due 2019 (1) 536 566 6.38% Notes due 2018 (2) 297 - 7.00% Notes due 2038 (2) 214 - 4.50% Notes due 2021 (2) 137 - 5.95% Notes due 2041 (2) 116 - 3.60% Notes due 2022 (2) 110 - 5.13% Notes due 2043 (2) 99 - 4.00% Notes due 2023 (2) 83 - 3.70% Notes due 2024 (2) 56 - 1.25% Senior Notes due 2017 - 1,000 1.90% Senior Notes due 2017 - 499 Commercial paper borrowings 2,421 1,000 Other 1,118 711 $ 16,463 $ 14,442 (1) ( 2 ) Represents long-term fixed rate debt obligations assumed in connection with the acquisition of Cameron, net of amounts repurchased subsequent to the closing of the transaction. Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA, a wholly-owned finance subsidiary of Schlumberger. At December 31, 2016, Schlumberger had separate committed debt facility agreements aggregating $6.6 billion with commercial banks, of which $4.0 billion was available and unused. This included $6.3 billion of committed facilities which support commercial paper programs in the United States and Europe, of which $1.0 billion matures in February 2017, $1.8 billion matures in July 2018, $1.5 billion matures in November 2020, and $2.0 billion matures in February 2021. Interest rates and other terms of borrowing under these lines of credit vary from country to country. Commercial paper borrowings are classified as long-term debt to the extent they are backed up by available and unused committed credit facilities maturing in more than one year and to the extent it is Schlumberger’s intent to maintain these obligations for longer than one year. Borrowings under the commercial paper program at December 31, 2016 were $2.6 billion, of which $2.4 billion was classified within Long-term debt Long-term debt – current portion Consolidated Balance Sheet Long-term debt Long-term debt – current portion Consolidated Balance Sheet The weighted average interest rate on variable rate debt as of December 31, 2016 was 1.7%. Long-term Debt as of December 31, 2016, is due as follows: $2.0 billion in 2018, $1.3 billion in 2019, $2.6 billion in 2020, $4.8 billion in 2021, $2.0 billion in 2022, $1.6 billion in 2023, $1.8 billion in 2025 and $0.4 billion thereafter. The fair value of Schlumberger’s Long-term Debt |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 11. Derivative Instruments and Hedging Activities Schlumberger is exposed to market risks related to fluctuations in interest rates and foreign currency exchange rates. To mitigate these risks, Schlumberger utilizes derivative instruments. Schlumberger does not enter into derivative transactions for speculative purposes. Interest Rate Risk Schlumberger is subject to interest rate risk on its debt and its investment portfolio. Schlumberger maintains an interest rate risk management strategy that uses a mix of variable and fixed rate debt combined with its investment portfolio, and occasionally interest rate swaps, to mitigate the exposure to changes in interest rates. During 2013, Schlumberger entered into a cross currency swap for a notional amount of €0.5 billion in order to hedge changes in the fair value of Schlumberger’s €0.5 billion 1.50% Guaranteed Notes due 2019. Under the terms of this swap, Schlumberger will receive interest at a fixed rate of 1.50% on the euro notional amount and pay interest at a floating rate of three-month LIBOR plus approximately 64 basis points on the US dollar notional amount. This cross currency swap is designated as a fair value hedge of the underlying debt. This derivative instrument is marked to market with gains and losses recognized currently in income to largely offset the respective gains and losses recognized on changes in the fair value of the hedged debt. At December 31, 2016, Schlumberger had fixed rate debt aggregating $14.1 billion and variable rate debt aggregating $5.5 billion, after taking into account the effect of the swap. Short-term investments and , , totaled $6.6 billion at December 31, 2016. The carrying value of these investments approximated fair value, which was estimated using quoted market prices for those or similar investments. Foreign Currency Exchange Rate Risk As a multinational company, Schlumberger conducts its business in over 85 countries. Schlumberger’s functional currency is primarily the US dollar. Approximately 77% of Schlumberger’s revenues in 2016 was denominated in US dollars. However, outside the United States, a significant portion of Schlumberger’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 Schlumberger conducts business, the US dollar–reported expenses will increase (decrease). Schlumberger 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. Schlumberger is also exposed to risks on future cash flows relating to certain of its fixed rate debt that is denominated in currencies other than the functional currency. Schlumberger 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, with the effective portion of changes in the fair value of the hedge recorded on the Consolidated Balance Sheet Accumulated Other Comprehensive Loss. Accumulated Other Comprehensive Loss At December 31, 2016, Schlumberger recognized a cumulative net $19 million loss in Accumulated other comprehensive loss Schlumberger is exposed to changes in the fair value of assets and liabilities that are denominated in currencies other than the functional currency. While Schlumberger 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 contracts are recorded on the Consolidated Balance Sheet Consolidated Statement of Income Consolidated Statement of Income Charges and Credits At December 31, 2016, contracts were outstanding for the US dollar equivalent of $5.5 billion in various foreign currencies, of which $1.1 billion relates to hedges of debt denominated in currencies other than the functional currency. The fair values of outstanding derivative instruments are summarized as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification 2016 2015 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 1 $ 4 Other current assets Foreign exchange contracts - 6 Other Assets $ 1 $ 10 Derivatives not designated as hedges: Foreign exchange contracts $ 42 $ 15 Other current assets $ 43 $ 25 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 18 $ 37 Accounts payable and accrued liabilities Foreign exchange contracts - 3 Other Liabilities Cross currency swap 49 22 Other Liabilities $ 67 $ 62 Derivatives not designated as hedges: Foreign exchange contracts $ 59 $ 25 Accounts payable and accrued liabilities $ 126 $ 87 The fair value of all outstanding derivatives is determined using a model with inputs that are observable in the market or can be derived from or corroborated by observable data. The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statement of Income (Stated in millions) Gain (Loss) Recognized in Income 2016 2015 2014 Consolidated of Income Classification Derivatives designated as fair value hedges: Cross currency swap $ (31 ) $ (64 ) $ (82 ) Interest expense Derivatives not designated as hedges: Foreign exchange contracts $ (246 ) $ (154 ) $ (95 ) Cost of services/sales |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Stockholders' Equity | 12. Stockholders’ Equity Schlumberger is authorized to issue 4,500,000,000 shares of common stock, par value $0.01 per share, of which 1,391,475,510 and 1,256,367,980 shares were outstanding on December 31, 2016 and 2015, respectively. Holders of common stock are entitled to one vote for each share of stock held. Schlumberger is also authorized to issue 200,000,000 shares of preferred stock, par value $0.01 per share, which may be issued in series with terms and conditions determined by the Schlumberger Board of Directors. No shares of preferred stock have been issued. Accumulated Other Comprehensive Loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain/(Loss) on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2014 $ (1,068 ) $ 176 $ 29 $ (1,691 ) $ (2,554 ) Other comprehensive income (loss) before reclassifications (463 ) (166 ) (238 ) (1,285 ) (2,152 ) Amounts reclassified from accumulated other comprehensive loss - - 113 305 418 Income taxes - - 82 82 Balance, December 31, 2014 (1,531 ) 10 (96 ) (2,589 ) (4,206 ) Other comprehensive income (loss) before reclassifications (522 ) (50 ) (178 ) (210 ) (960 ) Amounts reclassified from accumulated other comprehensive loss - 40 235 407 682 Income taxes - - - (74 ) (74 ) Balance, December 31, 2015 (2,053 ) - (39 ) (2,466 ) (4,558 ) Other comprehensive income (loss) before reclassifications (83 ) 21 (101 ) (289 ) (452 ) Amounts reclassified from accumulated other comprehensive loss - - 121 259 380 Income taxes - - - (13 ) (13 ) Balance, December 31, 2016 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) Other comprehensive loss was $85 million in 2016, $352 million in 2015 and $1.652 billion in 2014. |
Stock-based Compensation Plans
Stock-based Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-based Compensation Plans | 13. Stock-based Compensation Plans Schlumberger has three types of stock-based compensation programs: (i) stock options, (ii) a restricted stock, restricted stock unit and performance share unit program (collectively referred to as “restricted stock”) and (iii) a discounted stock purchase plan (DSPP). Stock Options Key employees are granted stock options under Schlumberger stock option plans. For all stock options granted, the exercise price equals the average of the high and low sales prices of Schlumberger stock on the date of grant; the maximum term is ten years, and the options generally vest in increments over five years. The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions and resulting weighted-average fair value per share: 2016 2015 2014 Dividend yield 2.7 % 2.3 % 1.6 % Expected volatility 30 % 36 % 37 % Risk-free interest rate 1.7 % 1.7 % 2.2 % Expected option life in years 7.0 7.0 7.0 Weighted-average fair value per share $ 17.45 $ 25.96 $ 34.20 The following table summarizes information related to options outstanding and options exercisable as of December 31, 2016: (Shares stated in thousands) Options Outstanding Options Exercisable Weighted- Average Remaining Weighted- Weighted- Options Contractual Life Average Options Average Exercise prices range Outstanding (in years) Exercise Price Exercisable Exercise Price $37.85 - $67.87 6,526 5.2 $ 55.58 4,524 $ 52.78 $68.51 - $72.00 7,501 5.3 $ 70.08 5,761 $ 69.79 $72.11 - $79.85 8,767 6.3 $ 74.01 5,108 $ 72.82 $80.53 - $84.93 12,375 5.9 $ 82.72 7,093 $ 84.17 $88.61 - $114.83 11,333 6.9 $ 95.37 4,859 $ 95.89 46,502 6.0 $ 78.31 27,345 $ 75.91 The weighted-average remaining contractual life of stock options exercisable as of December 31, 2016 was 4.5 years. The following table summarizes stock option activity during the years ended December 31, 2016, 2015 and 2014: (Shares stated in thousands) 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding at beginning of year 41,087 $ 78.73 38,583 $ 76.10 41,939 $ 70.33 Granted 7,672 $ 76.14 7,118 $ 86.86 6,105 $ 99.04 Assumed in Cameron transaction 3,088 $ 63.24 - $ - - $ - Exercised (3,357 ) $ 60.70 (2,561 ) $ 60.10 (8,269 ) $ 64.19 Forfeited (1,988 ) $ 84.60 (2,053 ) $ 80.34 (1,192 ) $ 73.56 Outstanding at year-end 46,502 $ 78.31 41,087 $ 78.73 38,583 $ 76.10 The aggregate intrinsic value of stock options outstanding and stock options exercisable as of December 31, 2016 was $393 million and $280 million, respectively. The total intrinsic value of options exercised during the years ended December 31, 2016, 2015 and 2014 was $45 million, $62 million and $314 million, respectively. Restricted Stock Schlumberger grants performance share units to certain executives. The number of shares earned is determined at the end of each performance period, which is generally three years, based on Schlumberger’s achievement of certain predefined targets as defined in the underlying performance share unit agreement. In the event Schlumberger exceeds the predefined target, shares for up to the maximum of 250% of the target award may be granted. In the event Schlumberger falls below the predefined target, a reduced number of shares may be granted. If Schlumberger falls below the threshold award performance level, no shares will be granted. As of December 31, 2016, 1.0 million performance share units All other restricted stock awards generally vest at the end of three years. Restricted stock awards do not pay dividends or have voting rights prior to vesting. Accordingly, the fair value of a restricted stock award is the quoted market price of Schlumberger’s stock on the date of grant less the present value of the expected dividends not received prior to vesting. The following table summarizes information related to restricted stock transactions: (Shares stated in thousands) 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Stock Fair Value Stock Fair Value Stock Fair Value Unvested at beginning of year 3,571 $ 85.04 4,138 $ 80.80 4,171 $ 76.01 Granted 1,678 $ 68.66 1,254 $ 82.37 1,341 $ 96.08 Assumed in Cameron transaction 1,824 $ 72.12 - $ - - $ - Vested (1,720 ) $ 72.64 (1,495 ) $ 71.30 (1,186 ) $ 81.59 Forfeited (241 ) $ 80.87 (326 ) $ 83.86 (188 ) $ 78.68 Unvested at year-end 5,112 $ 78.31 3,571 $ 85.04 4,138 $ 80.80 Discounted Stock Purchase Plan Under the terms of the DSPP, employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase Schlumberger common stock. The purchase price of the stock is 92.5% of the lower of the stock price at the beginning or end of the plan period at six-month intervals. The fair value of the employees’ purchase rights under the DSPP was estimated using the Black-Scholes model with the following assumptions and resulting weighted-average fair value per share: 2016 2015 2014 Dividend yield 2.7 % 2.3 % 1.6 % Expected volatility 25 % 27 % 19 % Risk-free interest rate 0.5 % 0.2 % 0.1 % Weighted-average fair value per share $ 10.37 $ 12.45 $ 12.67 Total Stock-based Compensation Expense The following summarizes stock-based compensation expense recognized in income: (Stated in millions) 2016 2015 2014 Stock options $ 175 $ 176 $ 177 Restricted stock 47 107 114 DSPP 45 43 38 $ 267 $ 326 $ 329 At December 31, 2016, there was $480 million of total unrecognized compensation cost related to nonvested stock-based compensation arrangements, of which $212 million is expected to be recognized in 2017, $157 million in 2018, $74 million in 2019, $31 million in 2020 and $6 million in 2021. As of December 31, 2016, approximately 20 million shares of Schlumberger common stock were available for future grants under Schlumberger’s stock-based compensation programs. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 14. Income Taxes Schlumberger operates in more than 100 tax jurisdictions, where statutory tax rates generally vary from 0% to 40%. Income (loss) from continuing operations before taxes subject to United States and non-United States income taxes were as follows: (Stated in millions) 2016 2015 2014 United States $ (3,103 ) $ (691 ) $ 1,990 Outside United States 1,198 3,572 5,649 $ (1,905 ) $ 2,881 $ 7,639 Schlumberger recorded pretax charges of $3.820 billion in 2016 ($1.848 billion in the US and $1.972 billion outside of the US); $2.575 billion in 2015 ($883 million in the US and $1.692 billion outside the US); and $1.773 billion in 2014 ($289 million in the US and $1.484 billion outside the US). These charges and credits are included in the table above and are more fully described in Note 3 – Charges and Credits The components of net deferred tax assets (liabilities) were as follows: (Stated in millions) 2016 2015 Postretirement benefits $ 253 $ 266 Intangible assets (2,869 ) (1,418 ) Investments in non-US subsidiaries (271 ) (152 ) Fixed assets, net (79 ) (176 ) Inventories 248 159 Other, net 838 454 $ (1,880 ) $ (867 ) The above deferred tax balances at December 31, 2016 and 2015 were net of valuation allowances relating to net operating losses in certain countries of $186 million and $162 million, respectively. Schlumberger generally does not provide for taxes relating to undistributed earnings because such earnings would not be taxable when remitted or they are considered to be indefinitely reinvested. In connection with Schlumberger’s 2016 acquisition of Cameron, certain non-US subsidiaries of Cameron are now either wholly or partially owned by a US subsidiary of Schlumberger. Undistributed earnings of these non-US subsidiaries that are indefinitely invested outside the US are approximately $3 billion. Such earnings would be subject to US taxes if they were to be repatriated to the US. However, determination of the unrecognized deferred tax liability that would be incurred if such amounts were repatriated to the US is not practicable. In addition, any taxes that would be incurred if the undistributed earnings of The components of Taxes on income (loss) (Stated in millions) 2016 2015 2014 Current: United States-Federal $ (511 ) $ 90 $ 718 United States-State (36 ) 12 51 Outside United States 648 1,085 1,380 101 1,187 2,149 Deferred: United States-Federal $ (352 ) $ (356 ) $ (194 ) United States-State (13 ) (19 ) (9 ) Outside United States (51 ) (52 ) (12 ) Valuation allowance 37 (14 ) (6 ) (379 ) (441 ) (221 ) $ (278 ) $ 746 $ 1,928 A reconciliation of the United States statutory federal tax rate (35%) to the consolidated effective tax rate follows: 2016 2015 2014 US federal statutory rate 35 % 35 % 35 % State tax 2 - - Non-US income taxed at different rates (21 ) (13 ) (11 ) Charges and credits (See Note 3) (1 ) 6 3 Other - (2 ) (2 ) 15 % 26 % 25 % A number of the jurisdictions in which Schlumberger operates have tax laws that are not fully defined and are evolving. Schlumberger’s tax filings are subject to regular audit by the tax authorities. These audits may result in assessments for additional taxes that are resolved with the tax authorities or, potentially, through the courts. Tax liabilities are recorded based on estimates of additional taxes that will be due upon the conclusion of these audits. Due to the uncertain and complex application of tax regulations, the ultimate resolution of audits may result in liabilities which could be materially different from these estimates. A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the years ended December 31, 2016, 2015 and 2014 is as follows: (Stated in millions) 2016 2015 2014 Balance at beginning of year $ 1,285 $ 1,402 $ 1,452 Additions based on tax positions related to the current year 70 140 154 Additions for tax positions of prior years 119 136 96 Additions related to acquisitions 127 5 43 Impact of changes in exchange rates (25 ) (78 ) (62 ) Settlements with tax authorities (45 ) (99 ) (27 ) Reductions for tax positions of prior years (85 ) (203 ) (212 ) Reductions due to the lapse of the applicable statute of limitations (27 ) (18 ) (42 ) Balance at end of year $ 1,419 $ 1,285 $ 1,402 The amounts above exclude accrued interest and penalties of $178 million, $176 million and $243 million at December 31, 2016, 2015 and 2014, respectively. Schlumberger classifies interest and penalties relating to uncertain tax positions within Taxes on income (loss) Consolidated Statement of Income The following table summarizes the tax years that are either currently under audit or remain open and subject to examination by the tax authorities in the most significant jurisdictions in which Schlumberger operates: Brazil 2011 - 2016 Canada 2009 - 2016 Ecuador 2013 - 2016 Mexico 2010 - 2016 Norway 2013 - 2016 Russia 2013 - 2016 Saudi Arabia 2004 - 2016 United Kingdom 2014 - 2016 United States 2014 - 2016 In certain of the jurisdictions noted above, Schlumberger operates through more than one legal entity, each of which may have different open years subject to examination. The table above presents the open years subject to examination for the most material of the legal entities in each jurisdiction. Additionally, it is important to note that tax years are technically not closed until the statute of limitations in each jurisdiction expires. In the jurisdictions noted above, the statute of limitations can extend beyond the open years subject to examination. |
Leases and Lease Commitments
Leases and Lease Commitments | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Leases and Lease Commitments | 15. Leases and Lease Commitments Total rental expense was $1.2 billion in 2016, $1.6 billion in 2015, and $2.1 billion in 2014. Future minimum rental commitments under noncancelable operating leases for each of the next five years are as follows: (Stated in millions) 2017 $ 292 2018 220 2019 195 2020 167 2021 132 Thereafter 471 $ 1,477 |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies | 16. Contingencies Schlumberger and its subsidiaries are 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. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | 17. Segment Information Schlumberger’s segments are as follows: Reservoir Characterization Group Drilling Group Production Group ● Cameron Group Financial information for the years ended December 31, 2016, 2015 and 2014, by segment, is as follows: (Stated in millions) 2016 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 6,743 $ 1,228 $ 6,913 $ 1,116 $ 531 Drilling 8,561 994 6,741 904 418 Production 8,709 528 10,453 1,222 647 Cameron 4,211 653 4,246 211 176 Eliminations & other (414 ) (130 ) 1,611 257 283 Pretax operating income 3,273 Goodwill and intangible assets 34,845 All other assets 2,408 Corporate & other (1) (925 ) 10,739 384 Interest income (2) 84 Interest expense (3) (517 ) Charges & credits (4) (3,820 ) $ 27,810 $ (1,905 ) $ 77,956 $ 4,094 $ 2,055 (Stated in millions) 2015 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 9,738 $ 2,465 $ 8,338 $ 1,294 $ 661 Drilling 13,563 2,538 8,549 1,177 672 Production 12,311 1,570 9,866 1,201 812 Eliminations & other (137 ) (63 ) 2,052 213 265 Pretax operating income 6,510 Goodwill and intangible assets 20,174 All other assets 2,262 Corporate & other (1) (768 ) 16,764 193 Interest income (2) 30 Interest expense (3) (316 ) Charges & credits (4) (2,575 ) $ 35,475 $ 2,881 $ 68,005 $ 4,078 $ 2,410 (Stated in millions) 2014 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 13,339 $ 3,770 $ 9,324 $ 1,482 $ 1,234 Drilling 18,128 3,805 11,155 1,173 1,328 Production 17,329 3,130 11,348 1,043 1,165 Eliminations & other (216 ) (129 ) 1,572 198 249 Pretax operating income 10,576 Goodwill and intangible assets 20,141 All other assets 2,186 Corporate & other (1) (848 ) 11,178 198 Interest income (2) 31 Interest expense (3) (347 ) Charges & credits (4) (1,773 ) $ 48,580 $ 7,639 $ 66,904 $ 4,094 $ 3,976 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets (including intangible asset amortization expense resulting from the 2016 acquisition of Cameron), certain centrally managed initiatives and other nonoperating items. (2) Interest income excludes amounts which are included in the segments’ income (2016: $26 million; 2015: $22 million; 2014: $20 million). (3) Interest expense excludes amounts which are included in the segments’ income (2016: $53 million; 2015: $30 million; 2014: $22 million). (4) See Note 3 – Charges and Credits . Segment assets consist of receivables, inventories, fixed assets, multiclient seismic data and SPM investments. Depreciation and amortization includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments. Revenue by geographic area for the years ended December 31, 2016, 2015 and 2014 is as follows: (Stated in millions) 2016 2015 2014 North America $ 6,665 $ 9,811 $ 16,151 Latin America 4,230 6,014 7,699 Europe/CIS/Africa 7,351 9,284 12,515 Middle East & Asia 9,286 9,898 11,875 Eliminations & other 278 468 340 $ 27,810 $ 35,475 $ 48,580 Revenue is based on the location where services are provided and products are sold. During each of the three years ended December 31, 2016, 2015 and 2014, no single customer exceeded 10% of consolidated revenue. Schlumberger did not have revenue from third-party customers in its country of domicile during the last three years. Revenue in the United States in 2016, 2015 and 2014 was $5.4 billion, $8.5 billion and $14.0 billion, respectively. Fixed Assets less accumulated depreciation by geographic area are as follows: (Stated in millions) 2016 2015 2014 North America $ 4,428 $ 4,392 $ 4,885 Latin America 1,460 1,728 1,969 Europe/CIS/Africa 2,706 2,978 3,640 Middle East & Asia 3,149 3,078 3,446 Unallocated (1) 1,078 1,239 1,456 $ 12,821 $ 13,415 $ 15,396 (1) Represents seismic vessels, including the related on-board equipment, which frequently transition between geographic areas. |
Pension and Other Benefit Plans
Pension and Other Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension and Other Benefit Plans | 18. Pension and Other Benefit Plans Pension Plans Schlumberger sponsors several defined benefit pension plans that cover substantially all US employees hired prior to October 1, 2004. The benefits are based on years of service and compensation, on a career-average pay basis. In addition to the US defined benefit pension plans, Schlumberger sponsors several other international defined benefit pension plans. The most significant of these international plans are the International Staff Pension Plan and the UK pension plan (collectively, the “International plans”). The International Staff Pension Plan covers certain international employees hired prior to July 1, 2014 and is based on years of service and compensation on a career-average pay basis. The UK plan covers employees hired prior to April 1, 1999, and is based on years of service and compensation, on a final salary basis. The weighted-average assumed discount rate, compensation increases and the expected long-term rate of return on plan assets used to determine the net pension cost for the US and International plans were as follows: US International 2016 2015 2014 2016 2015 2014 Discount rate 4.50 % 4.15 % 4.85 % 4.36 % 4.07 % 4.76 % Compensation increases 4.00 % 4.00 % 4.00 % 4.80 % 4.79 % 4.80 % Return on plan assets 7.25 % 7.25 % 7.25 % 7.40 % 7.40 % 7.50 % Net pension cost for 2016, 2015 and 2014 included the following components: (Stated in millions) US International 2016 2015 2014 2016 2015 2014 Service cost - benefits earned during the period $ 62 $ 86 $ 72 $ 110 $ 167 $ 126 Interest cost on projected benefit obligation 177 170 164 311 297 288 Expected return on plan assets (235 ) (229 ) (208 ) (517 ) (498 ) (450 ) Amortization of prior service cost 12 12 12 122 121 120 Amortization of net loss 79 123 82 78 170 94 $ 95 $ 162 $ 122 $ 104 $ 257 $ 178 The weighted-average assumed discount rate and compensation increases used to determine the projected benefit obligations for the US and International plans were as follows: US International 2016 2015 2016 2015 Discount rate 4.20 % 4.50 % 4.13 % 4.36 % Compensation increases 4.00 % 4.00 % 4.81 % 4.80 % The changes in the projected benefit obligation, plan assets and funded status of the plans were as follows: (Stated in millions) US International 2016 2015 2016 2015 Change in Projected Benefit Obligations Projected benefit obligation at beginning of year $ 4,025 $ 4,137 $ 7,340 $ 7,249 Service cost 62 86 110 167 Interest cost 177 170 311 297 Contribution by plan participants - - 117 143 Actuarial (gains) losses 137 (205 ) 477 (203 ) Currency effect - - (290 ) (66 ) Benefits paid (183 ) (163 ) (272 ) (247 ) Other 22 - - - Projected benefit obligation at end of year $ 4,240 $ 4,025 $ 7,793 $ 7,340 Change in Plan Assets Plan assets at fair value at beginning of year $ 3,467 $ 3,549 $ 6,832 $ 6,830 Actual return on plan assets 320 (1 ) 715 (5 ) Currency effect - - (318 ) (69 ) Company contributions 4 82 130 198 Contributions by plan participants - - 107 125 Benefits paid (183 ) (163 ) (272 ) (247 ) Other 17 - - - Plan assets at fair value at end of year $ 3,625 $ 3,467 $ 7,194 $ 6,832 Unfunded Liability $ (615 ) $ (558 ) $ (599 ) $ (508 ) Amounts Recognized in Balance Sheet Postretirement Benefits $ (615 ) $ (558 ) $ (724 ) $ (657 ) Other Assets - - 125 149 $ (615 ) $ (558 ) $ (599 ) $ (508 ) Amounts Recognized in Accumulated Other Comprehensive Loss Actuarial losses $ 982 $ 1,008 $ 1,644 $ 1,474 Prior service cost 42 54 114 235 $ 1,024 $ 1,062 $ 1,758 $ 1,709 Accumulated benefit obligation $ 3,999 $ 3,763 $ 7,454 $ 6,913 The unfunded liability represents the difference between the plan assets and the projected benefit obligation (PBO). The PBO represents the actuarial present value of benefits based on employee service and compensation and includes an assumption about future compensation levels. The accumulated benefit obligation represents the actuarial present value of benefits based on employee service and compensation, but does not include an assumption about future compensation levels. The weighted-average allocation of plan assets and the target allocations by asset category are as follows: US International Target 2016 2015 Target 2016 2015 Equity securities 37 - 56 % 52 % 52 % 45 - 71 % 64 % 64 % Debt securities 35 - 62 37 36 20 - 35 25 27 Cash and cash equivalents 0 - 3 2 2 0 - 5 2 2 Alternative investments 0 - 10 9 10 0 - 25 9 7 100 % 100 % 100 % 100 % 100 % 100 % Asset performance is monitored frequently with an overall expectation that plan assets will meet or exceed the weighted index of its target asset allocation and component benchmark over rolling five-year periods. The expected rate of return on assets assumptions reflect the long-term average rate of earnings expected on funds invested or to be invested. The assumptions have been determined based on expectations regarding future rates of return for the portfolio considering the asset allocation and related historical rates of return. The appropriateness of the assumptions is reviewed annually. The fair value of Schlumberger’s pension plan assets at December 31, 2016 and 2015, by asset category, is presented below and was determined based on valuation techniques categorized as follows: Level One: The use of quoted prices in active markets for identical instruments. Level Two: The use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or other inputs that are observable in the market or can be corroborated by observable market data. Level Three: The use of significant unobservable inputs that typically require the use of management’s estimates of assumptions that market participants would use in pricing. (Stated in millions) US Plan Assets 2016 2015 Level Level Level Level Level Level Total One Two Three Total One Two Three Asset Category: Cash and Cash Equivalents $ 60 $ 15 $ 45 $ - $ 86 $ 40 $ 46 $ - Equity Securities: US (a) 1,210 1,049 161 1,195 655 540 International (b) 662 649 13 605 473 132 Debt Securities Corporate bonds (c) 625 625 599 599 Government and government-related debt securities (d) 643 164 479 589 159 430 Collateralized mortgage obligations and mortgage backed securities (e) 92 92 65 65 Alternative Investments: Private equity (f) 191 191 203 203 Real estate (g) 142 142 125 125 Total $ 3,625 $ 1,877 $ 1,415 $ 333 $ 3,467 $ 1,327 $ 1,812 $ 328 (Stated in millions) International Plan Assets 2016 2015 Level Level Level Level Level Level Total One Two Three Total One Two Three Asset Category: Cash and Cash Equivalents $ 184 $ 135 $ 49 $ - $ 138 $ 115 $ 23 $ - Equity Securities: US (a) 2,854 2,324 530 2,736 2,240 496 International (b) 1,726 1,475 251 1,639 1,179 460 Debt Securities Corporate bonds (c) 685 685 657 657 Government and government-related debt securities (d) 1,001 10 991 1,036 8 1,028 Collateralized mortgage obligations and mortgage backed securities (e) 130 130 143 143 Alternative Investments: Private equity (f) 385 385 331 331 Real estate (g) 106 106 49 49 Other 123 123 103 103 Total $ 7,194 $ 3,944 $ 2,636 $ 614 $ 6,832 $ 3,542 $ 2,807 $ 483 (a) US equities include companies that are well-diversified by industry sector and equity style (i.e., growth and value strategies). Active and passive management strategies are employed. Investments are primarily in large capitalization stocks and, to a lesser extent, mid- and small-cap stocks. (b) International equities are invested in companies that are traded on exchanges outside the US and are well-diversified by industry sector, country and equity style. Active and passive strategies are employed. The vast majority of the investments are made in companies in developed markets with a small percentage in emerging markets. (c) Corporate bonds consist primarily of investment grade bonds from diversified industries. (d) Government and government-related debt securities are comprised primarily of inflation-protected US treasuries and, to a lesser extent, other government-related securities. (e) Collateralized mortgage obligations and mortgage backed-securities are debt obligations that represent claims to the cash flows from pools of mortgage loans, which are purchased from banks, mortgage companies, and other originators and then assembled into pools by governmental, quasi-governmental and private entities. (f) Private equity includes investments in several fund of funds limited partnerships. (g) Real estate primarily includes investments in real estate limited partnerships, concentrated in commercial real estate. Schlumberger’s funding policy is to annually contribute amounts that are based upon a number of factors including the actuarial accrued liability, amounts that are deductible for income tax purposes, legal funding requirements and available cash flow. Schlumberger expects to contribute approximately $200 million to its postretirement benefit plans in 2017, subject to market and business conditions. Postretirement Benefits Other Than Pensions Schlumberger provides certain healthcare benefits to certain former US employees who have retired. Effective April 1, 2015, Schlumberger changed the way it provides healthcare coverage to certain retirees who are age 65 and over. Under the amended plan, these retirees transferred to individual coverage under the Medicare Exchange. Schlumberger subsidizes the cost of the program by providing these retirees with a Health Reimbursement Account. The annual subsidy may be increased based on medical cost inflation, but it will not be increased by more than 5% in any given year. The actuarial assumptions used to determine the accumulated postretirement benefit obligation and net periodic benefit cost for the US postretirement medical plan were as follows: Benefit Obligations Net Periodic Benefit At December 31, Cost for the Year 2016 2015 2016 2015 2014 Discount rate 4.20 % 4.50 % 4.50 % 4.15 % 4.85 % Return on plan assets - - 7.00 % 7.00 % 7.00 % Current medical cost trend rate 7.25 % 7.50 % 7.50 % 7.00 % 7.25 % Ultimate medical cost trend rate 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Year that the rate reaches the ultimate trend rate 2026 2023 2026 2023 2023 The net periodic benefit cost (credit) for the US postretirement medical plan included the following components: (Stated in millions) 2016 2015 2014 Service cost $ 30 $ 42 $ 43 Interest cost 47 48 60 Expected return on plan assets (57 ) (52 ) (45 ) Amortization of prior service credit (32 ) (32 ) (4 ) Amortization of net loss - 13 1 $ (12 ) $ 19 $ 55 The changes in the accumulated postretirement benefit obligation, plan assets and funded status were as follows: (Stated in millions) 2016 2015 Change in Projected Benefit Obligations Benefit obligation at beginning of year $ 1,103 $ 1,221 Service cost 30 42 Interest cost 47 48 Contribution by plan participants 8 7 Actuarial gains (32 ) (168 ) Benefits paid (48 ) (47 ) Benefit obligation at end of year $ 1,108 $ 1,103 Change in Plan Assets Plan assets at fair value at beginning of year $ 884 $ 854 Actual return on plan assets 68 4 Company contributions 40 66 Contributions by plan participants 8 7 Benefits paid (48 ) (47 ) Plan assets at fair value at end of year $ 952 $ 884 Unfunded Liability $ (156 ) $ (219 ) Amounts Recognized in Accumulated Other Comprehensive Loss Actuarial losses $ 62 $ 106 Prior service credit (243 ) (275 ) $ (181 ) $ (169 ) The unfunded liability is included in Postretirement Benefits Consolidated Balance Sheet The assets of the US postretirement medical plan are invested 63% in equity securities and 37% in debt securities at December 31, 2016. The fair value of these assets was primarily determined based on Level Two valuation techniques. Assumed health care cost trend rates have a significant effect on the amounts reported for the US postretirement medical plan. A one percentage point change in assumed health care cost trend rates would have the following effects: (Stated in millions) One Percentage One Percentage Point Increase Point Decrease Effect on total service and interest cost components $ 3 $ (3 ) Effect on accumulated postretirement benefit obligation $ 34 $ (30 ) Other Information The expected benefits to be paid under the US and International pension plans as well as the postretirement medical plan are as follows: (Stated in millions) Pension Benefits Postretirement US International Medical Plan 2017 $ 189 $ 258 $ 52 2018 $ 195 $ 273 $ 54 2019 $ 201 $ 286 $ 55 2020 $ 208 $ 300 $ 59 2021 $ 215 $ 313 $ 60 2022-2026 $ 1,188 $ 1,784 $ 325 Included in Accumulated other comprehensive loss Accumulated other comprehensive loss (Stated in millions) Postretirement Pension Plans Medical Plan Net actuarial losses $ 157 $ - Prior service cost (credit) $ 109 $ (29 ) In addition to providing defined pension benefits and a postretirement medical plan, Schlumberger and its subsidiaries have other deferred benefit programs, primarily profit sharing and defined contribution pension plans. Expenses for these programs were $445 million, $565 million and $749 million in 2016, 2015 and 2014, respectively. |
Supplementary Information
Supplementary Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Supplementary Information | 19. Supplementary Information Cash paid for interest and income taxes was as follows: (Stated in millions) 2016 2015 2014 Interest $ 599 $ 346 $ 389 Income tax $ 750 $ 1,567 $ 2,048 During the fourth quarter of 2015, Schlumberger entered into an agreement with one of its customers to receive certain fixed assets in lieu of payment of approximately $200 million of accounts receivable. Interest and other income includes the following: (Stated in millions) 2016 2015 2014 Interest income $ 110 $ 52 $ 51 Earnings of equity method investments 90 184 240 $ 200 $ 236 $ 291 The change in Allowance for doubtful accounts (Stated in millions) 2016 2015 2014 Balance at beginning of year $ 333 $ 275 $ 384 Additions 123 75 39 Amounts written off (59 ) (17 ) (148 ) Balance at end of year $ 397 $ 333 $ 275 Revenue in excess of billings related to contracts accounted for under the percentage-of-completion method was $0.5 billion at December 31, 2016. Accounts payable and accrued liabilities are summarized as follows: (Stated in millions) 2016 2015 Payroll, vacation and employee benefits $ 1,349 $ 1,424 Trade 4,004 3,243 Deferred revenue 1,088 406 Other 3,575 2,654 $ 10,016 $ 7,727 |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 31, 2016 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued Operations | 20. Discontinued Operations During 2013, Schlumberger completed the wind down of its operations in Iran and, therefore, classified the historical results of this business as a discontinued operation. In 2009, the US Department of Justice began an investigation into past violations of US sanctions regarding Schlumberger’s historical operations in Iran and Sudan that occurred between 2004 and 2010. During the second quarter of 2014, Schlumberger increased its accrual for this contingency and recorded a $205 million charge, which was reflected within Loss from discontinued operations Consolidated Statement of Income During 2015, Schlumberger resolved this investigation and a non-US subsidiary of Schlumberger pleaded guilty to one criminal count of conspiracy to violate the International Emergency Economic Powers Act. Under the terms of the plea agreement, Schlumberger paid approximately $233 million in fines, penalties and assessments during the second quarter of 2015, which had been previously accrued. This payment is reflected within Cash flows used in discontinued operations – operating activities Consolidated Statement of Cash Flows. |
Summary of Accounting Policies
Summary of Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, Schlumberger evaluates its estimates, including those related to collectibility of accounts receivable; revenue recognized under the percentage-of-completion method; recoverability of fixed assets, goodwill, intangible assets, Schlumberger Production Management investments and investments in affiliates; income taxes; multiclient seismic data; contingencies and actuarial assumptions for employee benefit plans. Schlumberger bases its estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. |
Revenue Recognition | Revenue Recognition Schlumberger recognizes revenue based upon purchase orders, contracts or other persuasive evidence of an arrangement with the customer that include fixed or determinable prices provided that collectibility is reasonably assured. Revenue is recognized for services when they are rendered. Revenue is recognized for products upon delivery and when the customer assumes the risks and rewards of ownership. Revenue is recognized for certain long-term construction-type contracts, primarily in the Cameron Group, based on the percentage-of-completion method. These contracts involve significant design and engineering efforts in order to satisfy custom designs for customer-specific applications. Under the percentage-of-completion method, revenue is recognized as work progresses on each such contract. Progress is measured by the ratio of actual costs incurred to date on the project in relation to total estimated project costs. Any expected losses on a project are recorded in full in the period in which they become probable. Progress billings are generally issued upon completion of certain phases of work as stipulated in the contract. Revenue in excess of billings is included within Receivables less allowance for doubtful accounts Consolidated Balance Sheet Accounts payable and accrued liabilities Consolidated Balance Sheet Revenue from seismic contract services performed on a dayrate basis is recognized as the service is performed. Revenue from other services, including pre-funded multiclient surveys, is recognized as the seismic data is acquired and/or processed on a proportionate basis as work is performed. This method requires revenue to be recognized based upon quantifiable measures of progress, such as square kilometers acquired. Multiclient data surveys are licensed or sold to customers on a non-transferable basis. Revenue from sales of completed multiclient data surveys is recognized upon obtaining a signed licensing agreement and providing customers with access to such data. Revenue is occasionally generated from contractual arrangements that include multiple deliverables. Revenue from these arrangements is recognized as each item is delivered based on its relative fair value, provided that the delivered items have stand-alone value to the customer. Revenue derived from the sale of licenses of Schlumberger software may include installation, maintenance, consulting and training services. If services are not essential to the functionality of the software, the revenue for each element of the contract is recognized separately based on its respective vendor specific objective evidence of fair value when all of the following conditions are met: a signed contract is obtained, delivery has occurred, the fee is fixed or determinable and collectibility is probable. |
Short-term and Fixed Income Investments | Short-term and Fixed Income Investments The Consolidated Balance Sheet Short-term investments Fixed Income Investments, held to maturity Short-term investments For purposes of the Consolidated Statement of Cash Flows Short-term investments Fixed Income Investments, held to maturity at December 31, 2016 of $238 million mature as follows: $225 million in 2018 and $13 million in 2019. |
Investments in Affiliated Companies | Investments in Affiliated Companies Investments in companies in which Schlumberger does not have a controlling financial interest, but over which it has significant influence are accounted for using the equity method. Schlumberger’s share of the after-tax earnings of equity method investees is included in Interest and other income Accumulated other comprehensive loss Equity and cost method investments as well as investments in publicly traded companies are classified as Investments in Affiliated Companies Consolidated Balance Sheet |
Multiclient Seismic Data | Multiclient Seismic Data Schlumberger’s multiclient library consists of completed and in-process seismic surveys that are licensed on a nonexclusive basis. Schlumberger capitalizes costs directly incurred in acquiring and processing the multiclient seismic data. Such costs are charged to Cost of revenue The carrying value of the multiclient library is reviewed for impairment annually as well as when an event or change in circumstance indicating impairment may have occurred. Adjustments to the carrying value are recorded when it is determined that estimated future cash flows, which involve significant judgment on the part of Schlumberger, would not be sufficient to recover the carrying value of the surveys . Significant adverse changes in Schlumberger’s estimated future cash flows could result in impairment charges in a future period. |
Schlumberger Production Management | Schlumberger Production Management Schlumberger Production Management (SPM) projects are focused on developing and managing production on behalf of Schlumberger’s clients under long-term agreements. Schlumberger will invest its own services, products and in some cases cash, into the field development activities and operations. Although in certain arrangements Schlumberger is paid for a portion of the services or products it provides, generally Schlumberger will not be paid at the time of providing its services or upon delivery of its products. Instead, Schlumberger is compensated based upon cash flow generated or on a fee-per-barrel basis. This may include certain arrangements whereby Schlumberger is only compensated based upon incremental production it helps deliver above a mutually agreed baseline. Schlumberger capitalizes its cash investments in a project as well as the direct costs associated with providing services or products for which Schlumberger will be compensated when the related production is achieved. Revenue is recognized as the related production is achieved. These capitalized investments are amortized to the Consolidated Statement of Income The unamortized portion of Schlumberger’s investments in SPM projects was $2.458 billion and $1.829 billion at December 31, 2016 and 2015, respectively. These amounts are included within Other Assets Consolidated Balance Sheet |
Concentration of Credit Risk | Concentration of Credit Risk Schlumberger’s assets that are exposed to concentrations of credit risk consist primarily of cash, short-term investments, fixed income investments held to maturity, receivables from clients and derivative financial instruments. Schlumberger places its cash, short-term investments and fixed income investments held to maturity with financial institutions and corporations and limits the amount of credit exposure with any one of them. Schlumberger regularly evaluates the creditworthiness of the issuers in which it invests. By using derivative financial instruments to hedge certain exposures, Schlumberger exposes itself to some credit risk. Schlumberger minimizes this credit risk by entering into transactions with high-quality counterparties, limiting the exposure to each counterparty and monitoring the financial condition of its counterparties. Schlumberger operates in more than 85 countries and as such, its accounts receivable are spread over many countries and customers. The United States, Venezuela and Ecuador each represented approximately 11%, 12% and 12% of Schlumberger’s accounts receivable balance at December 31, 2016. No other country accounted for greater than 10% of Schlumberger’s accounts receivable balance. Schlumberger has continued to experience delays in payment from its national oil company customer in Venezuela. Schlumberger maintains an allowance for uncollectible accounts receivable based on expected collectibility and performs ongoing credit evaluations of its customers’ financial condition. If the financial condition of its customers were to deteriorate resulting in an impairment of their ability to make payments, adjustments to the allowance may be required. |
Earnings per Share | Earnings per Share The following is a reconciliation from basic to diluted earnings per share from continuing operations of Schlumberger for each of the last three years: (Stated in millions, except per share amounts) Schlumberger Income (Loss) from Continuing Operations Average Shares Outstanding Earnings (Loss) per Share from Continuing Operations 2016: Basic $ (1,687 ) 1,357 $ (1.24 ) Assumed exercise of stock options - - Unvested restricted stock - - Diluted $ (1,687 ) 1,357 $ (1.24 ) 2015: Basic $ 2,072 1,267 $ 1.63 Assumed exercise of stock options - 4 Unvested restricted stock - 4 Diluted $ 2,072 1,275 $ 1.63 2014: Basic $ 5,643 1,295 $ 4.36 Assumed exercise of stock options - 9 Unvested restricted stock - 4 Diluted $ 5,643 1,308 $ 4.31 Employee stock options to purchase 47 million shares of common stock as well as 5 million unvested restricted stock units were outstanding at December 31, 2016, but were not included in the computation of diluted loss per share as their effect, if included, would have been anti-dilutive. Employee stock options to purchase |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases Consolidated Balance Sheet In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes |
Reclassifications | Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. |
Summary of Accounting Policie30
Summary of Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Reconciliation of Earnings Per Share from Continuing Operations | The following is a reconciliation from basic to diluted earnings per share from continuing operations of Schlumberger for each of the last three years: (Stated in millions, except per share amounts) Schlumberger Income (Loss) from Continuing Operations Average Shares Outstanding Earnings (Loss) per Share from Continuing Operations 2016: Basic $ (1,687 ) 1,357 $ (1.24 ) Assumed exercise of stock options - - Unvested restricted stock - - Diluted $ (1,687 ) 1,357 $ (1.24 ) 2015: Basic $ 2,072 1,267 $ 1.63 Assumed exercise of stock options - 4 Unvested restricted stock - 4 Diluted $ 2,072 1,275 $ 1.63 2014: Basic $ 5,643 1,295 $ 4.36 Assumed exercise of stock options - 9 Unvested restricted stock - 4 Diluted $ 5,643 1,308 $ 4.31 |
Charges and Credits (Tables)
Charges and Credits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Restructuring And Related Activities [Abstract] | |
Summary of Charges and Credits | The following is a summary of these charges and credits, of which $3.172 billion were classified as Impairments & other Merger & integration Consolidated Statement of Income (Stated in millions) Pretax Tax Net Workforce reductions $ 880 $ 69 $ 811 Other fixed asset impairments 684 52 632 Inventory write-downs 616 49 567 Amortization of inventory fair value adjustment 299 90 209 Facility closure costs 226 53 173 North America pressure pumping asset impairments 209 67 142 Multiclient seismic data impairment 198 62 136 Facility impairments 165 58 107 Other merger and integration-related 160 28 132 Costs associated with exiting certain activities 98 23 75 Merger-related employee benefits 83 13 70 Currency devaluation loss in Egypt 63 - 63 Other restructuring charges 55 - 55 Professional fees 45 10 35 Contract termination costs 39 9 30 $ 3,820 $ 583 $ 3,237 The following is a summary of these charges and credits, all of which were classified as Impairments & other Consolidated Statement of Income (Stated in millions) Pretax Tax Net Workforce reductions $ 920 $ 107 $ 813 Fixed asset impairments 776 141 635 Inventory write-downs 269 27 242 Impairment of SPM project 182 36 146 Facility closures 177 37 140 Geopolitical events 77 - 77 Currency devaluation loss in Venezuela 49 - 49 Contract termination costs 41 2 39 Other 84 7 77 $ 2,575 $ 357 $ 2,218 The following is a summary of these charges, all of which were classified as Impairments & other Consolidated Statement of Income (Stated in millions) Pretax Tax Net WesternGeco restructuring $ 806 $ 25 $ 781 Currency devaluation loss in Venezuela 472 - 472 Workforce reduction 296 37 259 Impairment of SPM project 199 72 127 $ 1,773 $ 134 $ 1,639 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Fair Value of Consideration Transferred to Effect Acquisition | The following details the fair value of the consideration transferred to effect the acquisition of Cameron: (stated in millions, except exchange ratio and per share amounts) Equity consideration: Number of shares of Cameron stock outstanding 192 Exchange ratio 0.716 Schlumberger shares of common stock issued 138 Schlumberger closing stock share price on April 1, 2016 $ 72.12 Equity consideration $ 9,924 Cash consideration: Number of shares of Cameron stock outstanding 192 Cash consideration per Cameron share $ 14.44 Cash consideration 2,776 Other: Fair value of replacement equity awards 103 Total fair value of the consideration transferred $ 12,803 |
Schedule of Preliminary Estimates of Fair Values of Identifiable Assets Acquired and Liabilities Assumed | The following amounts represent the preliminary estimates of the fair value of assets acquired and liabilities assumed in the merger. The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained. These amounts, which are not expected to differ materially from current estimates, will be finalized in the first quarter of 2017. (Stated in millions) Cash $ 785 Short-term investments 1,448 Accounts receivable 1,669 Inventories (1) 2,350 Fixed assets 1,320 Intangible assets: Customer relationships (weighted-average life of 25 years) 2,371 Technology/Technical know-how (weighted-average life of 16 years) 1,736 Tradenames (weighted-average life of 25 years) 1,225 Other assets 511 Accounts payable and accrued liabilities (2,604 ) Long-term debt (2) (3,018 ) Deferred taxes (3) (1,343 ) Other liabilities (538 ) Sub-total $ 5,912 Less: Investment in OneSubsea (4) (2,065 ) Noncontrolling interests (57 ) Total identifiable net assets $ 3,790 Goodwill (5) 9,013 Total consideration transferred $ 12,803 (1) (2) (3) (4) (5) |
Schedule of Supplemental Pro Forma Financial Information from Results of Operations | The supplemental pro forma financial information presented below is unaudited and does not include any anticipated cost savings or the expected realization of other synergies associated with this transaction. Accordingly, this supplemental pro forma financial information is presented for informational purposes only and is not necessarily indicative of what the actual results of operations of the combined company would have been had the acquisition occurred on January 1, 2015, nor is it indicative of future results of operations. (Stated in millions, except per share amounts) 2016 2015 Revenue $ 29,438 $ 44,306 Net income (loss) attributable to Schlumberger $ (1,419 ) $ 2,000 Diluted earnings (loss) per share $ (1.02 ) $ 1.42 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Summary of Inventory | A summary of inventories, which are stated at the lower of average cost or market, follows: (Stated in millions) 2016 2015 Raw materials & field materials $ 1,720 $ 2,300 Work in progress 610 178 Finished goods 1,895 1,278 $ 4,225 $ 3,756 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property Plant And Equipment [Abstract] | |
Summary of Fixed Assets | A summary of fixed assets follows: (Stated in millions) 2016 2015 Land $ 479 $ 425 Buildings & improvements 4,849 3,960 Machinery & equipment 33,834 31,885 Seismic vessels 846 850 40,008 37,120 Less: Accumulated depreciation 27,187 23,705 $ 12,821 $ 13,415 |
Multiclient Seismic Data (Table
Multiclient Seismic Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Multiclient Seismic Data [Abstract] | |
Change in Carrying Amount of Multiclient Seismic Data | The change in the carrying amount of multiclient seismic data is as follows: (Stated in millions) 2016 2015 Balance at beginning of year $ 1,026 $ 793 Capitalized in period 630 486 Charged to expense (385 ) (253 ) Impairment charge (see Note 3) (198 ) - $ 1,073 $ 1,026 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill by reporting unit were as follows: (Stated in millions) Reservoir Characterization Drilling Production Cameron Total Balance, January 1, 2015 $ 3,812 $ 8,488 $ 3,187 $ - $ 15,487 Acquisitions 38 130 76 - 244 Impact of changes in exchange rates (52 ) (34 ) (40 ) - (126 ) Balance, December 31, 2015 3,798 8,584 3,223 - 15,605 Acquisition of Cameron 790 1,490 1,170 5,563 9,013 Other acquisitions 79 24 242 - 345 Reallocation 146 - - (146 ) - Impact of changes in exchange rates 7 16 4 - 27 Balance, December 31, 2016 $ 4,820 $ 10,114 $ 4,639 $ 5,417 $ 24,990 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets by Major Class | A summary of intangible assets follows: (Stated in millions) 2016 2015 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer Relationships $ 4,938 $ 865 $ 4,073 $ 2,489 $ 645 $ 1,844 Technology/Technical Know-How 3,655 835 2,820 1,864 653 1,211 Tradenames 2,847 458 2,389 1,625 367 1,258 Other 1,122 549 573 513 257 256 $ 12,562 $ 2,707 $ 9,855 $ 6,491 $ 1,922 $ 4,569 |
Long-term Debt and Debt Facil38
Long-term Debt and Debt Facility Agreements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-term Debt | Long-term Debt consists of the following: (Stated in millions) 2016 2015 4.00% Senior Notes due 2025 $ 1,740 $ 1,741 3.30% Senior Notes due 2021 1,594 1,597 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,496 2.35% Senior Notes due 2018 1,297 1,297 4.20% Senior Notes due 2021 1,100 1,100 2.40% Senior Notes due 2022 996 999 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 622 - 1.50% Guaranteed Notes due 2019 (1) 536 566 6.38% Notes due 2018 (2) 297 - 7.00% Notes due 2038 (2) 214 - 4.50% Notes due 2021 (2) 137 - 5.95% Notes due 2041 (2) 116 - 3.60% Notes due 2022 (2) 110 - 5.13% Notes due 2043 (2) 99 - 4.00% Notes due 2023 (2) 83 - 3.70% Notes due 2024 (2) 56 - 1.25% Senior Notes due 2017 - 1,000 1.90% Senior Notes due 2017 - 499 Commercial paper borrowings 2,421 1,000 Other 1,118 711 $ 16,463 $ 14,442 (1) ( 2 ) Represents long-term fixed rate debt obligations assumed in connection with the acquisition of Cameron, net of amounts repurchased subsequent to the closing of the transaction. |
Derivative Instruments and He39
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Fair Values of Outstanding Derivative Instruments | The fair values of outstanding derivative instruments are summarized as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification 2016 2015 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 1 $ 4 Other current assets Foreign exchange contracts - 6 Other Assets $ 1 $ 10 Derivatives not designated as hedges: Foreign exchange contracts $ 42 $ 15 Other current assets $ 43 $ 25 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 18 $ 37 Accounts payable and accrued liabilities Foreign exchange contracts - 3 Other Liabilities Cross currency swap 49 22 Other Liabilities $ 67 $ 62 Derivatives not designated as hedges: Foreign exchange contracts $ 59 $ 25 Accounts payable and accrued liabilities $ 126 $ 87 |
Effect of Derivative Instruments Designated as Fair Value Hedges and Not Designated as Hedges on Consolidated Statement of Income | The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statement of Income (Stated in millions) Gain (Loss) Recognized in Income 2016 2015 2014 Consolidated of Income Classification Derivatives designated as fair value hedges: Cross currency swap $ (31 ) $ (64 ) $ (82 ) Interest expense Derivatives not designated as hedges: Foreign exchange contracts $ (246 ) $ (154 ) $ (95 ) Cost of services/sales |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain/(Loss) on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2014 $ (1,068 ) $ 176 $ 29 $ (1,691 ) $ (2,554 ) Other comprehensive income (loss) before reclassifications (463 ) (166 ) (238 ) (1,285 ) (2,152 ) Amounts reclassified from accumulated other comprehensive loss - - 113 305 418 Income taxes - - 82 82 Balance, December 31, 2014 (1,531 ) 10 (96 ) (2,589 ) (4,206 ) Other comprehensive income (loss) before reclassifications (522 ) (50 ) (178 ) (210 ) (960 ) Amounts reclassified from accumulated other comprehensive loss - 40 235 407 682 Income taxes - - - (74 ) (74 ) Balance, December 31, 2015 (2,053 ) - (39 ) (2,466 ) (4,558 ) Other comprehensive income (loss) before reclassifications (83 ) 21 (101 ) (289 ) (452 ) Amounts reclassified from accumulated other comprehensive loss - - 121 259 380 Income taxes - - - (13 ) (13 ) Balance, December 31, 2016 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) |
Stock-based Compensation Plans
Stock-based Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Weighted Average Assumptions Used in Estimating Fair Value of Stock Options | The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions and resulting weighted-average fair value per share: 2016 2015 2014 Dividend yield 2.7 % 2.3 % 1.6 % Expected volatility 30 % 36 % 37 % Risk-free interest rate 1.7 % 1.7 % 2.2 % Expected option life in years 7.0 7.0 7.0 Weighted-average fair value per share $ 17.45 $ 25.96 $ 34.20 |
Options Outstanding and Option Exercisable | The following table summarizes information related to options outstanding and options exercisable as of December 31, 2016: (Shares stated in thousands) Options Outstanding Options Exercisable Weighted- Average Remaining Weighted- Weighted- Options Contractual Life Average Options Average Exercise prices range Outstanding (in years) Exercise Price Exercisable Exercise Price $37.85 - $67.87 6,526 5.2 $ 55.58 4,524 $ 52.78 $68.51 - $72.00 7,501 5.3 $ 70.08 5,761 $ 69.79 $72.11 - $79.85 8,767 6.3 $ 74.01 5,108 $ 72.82 $80.53 - $84.93 12,375 5.9 $ 82.72 7,093 $ 84.17 $88.61 - $114.83 11,333 6.9 $ 95.37 4,859 $ 95.89 46,502 6.0 $ 78.31 27,345 $ 75.91 |
Summary of Stock Option Activity | The following table summarizes stock option activity during the years ended December 31, 2016, 2015 and 2014: (Shares stated in thousands) 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding at beginning of year 41,087 $ 78.73 38,583 $ 76.10 41,939 $ 70.33 Granted 7,672 $ 76.14 7,118 $ 86.86 6,105 $ 99.04 Assumed in Cameron transaction 3,088 $ 63.24 - $ - - $ - Exercised (3,357 ) $ 60.70 (2,561 ) $ 60.10 (8,269 ) $ 64.19 Forfeited (1,988 ) $ 84.60 (2,053 ) $ 80.34 (1,192 ) $ 73.56 Outstanding at year-end 46,502 $ 78.31 41,087 $ 78.73 38,583 $ 76.10 |
Restricted Stock Transactions | The following table summarizes information related to restricted stock transactions: (Shares stated in thousands) 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Stock Fair Value Stock Fair Value Stock Fair Value Unvested at beginning of year 3,571 $ 85.04 4,138 $ 80.80 4,171 $ 76.01 Granted 1,678 $ 68.66 1,254 $ 82.37 1,341 $ 96.08 Assumed in Cameron transaction 1,824 $ 72.12 - $ - - $ - Vested (1,720 ) $ 72.64 (1,495 ) $ 71.30 (1,186 ) $ 81.59 Forfeited (241 ) $ 80.87 (326 ) $ 83.86 (188 ) $ 78.68 Unvested at year-end 5,112 $ 78.31 3,571 $ 85.04 4,138 $ 80.80 |
Assumptions Used in Estimating Fair Value of Purchase Rights under Discounted Stock Purchase Plan | The fair value of the employees’ purchase rights under the DSPP was estimated using the Black-Scholes model with the following assumptions and resulting weighted-average fair value per share: 2016 2015 2014 Dividend yield 2.7 % 2.3 % 1.6 % Expected volatility 25 % 27 % 19 % Risk-free interest rate 0.5 % 0.2 % 0.1 % Weighted-average fair value per share $ 10.37 $ 12.45 $ 12.67 |
Stock-Based Compensation Expense Recognized in Income | The following summarizes stock-based compensation expense recognized in income: (Stated in millions) 2016 2015 2014 Stock options $ 175 $ 176 $ 177 Restricted stock 47 107 114 DSPP 45 43 38 $ 267 $ 326 $ 329 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income (Loss) from Continuing Operations Before Taxes | Income (loss) from continuing operations before taxes subject to United States and non-United States income taxes were as follows: (Stated in millions) 2016 2015 2014 United States $ (3,103 ) $ (691 ) $ 1,990 Outside United States 1,198 3,572 5,649 $ (1,905 ) $ 2,881 $ 7,639 |
Components of Net Deferred Tax Assets (Liabilities) | The components of net deferred tax assets (liabilities) were as follows: (Stated in millions) 2016 2015 Postretirement benefits $ 253 $ 266 Intangible assets (2,869 ) (1,418 ) Investments in non-US subsidiaries (271 ) (152 ) Fixed assets, net (79 ) (176 ) Inventories 248 159 Other, net 838 454 $ (1,880 ) $ (867 ) |
Components of Income (Loss) Taxes | The components of Taxes on income (loss) (Stated in millions) 2016 2015 2014 Current: United States-Federal $ (511 ) $ 90 $ 718 United States-State (36 ) 12 51 Outside United States 648 1,085 1,380 101 1,187 2,149 Deferred: United States-Federal $ (352 ) $ (356 ) $ (194 ) United States-State (13 ) (19 ) (9 ) Outside United States (51 ) (52 ) (12 ) Valuation allowance 37 (14 ) (6 ) (379 ) (441 ) (221 ) $ (278 ) $ 746 $ 1,928 |
Reconciliation of US Statutory Federal Tax Rate | A reconciliation of the United States statutory federal tax rate (35%) to the consolidated effective tax rate follows: 2016 2015 2014 US federal statutory rate 35 % 35 % 35 % State tax 2 - - Non-US income taxed at different rates (21 ) (13 ) (11 ) Charges and credits (See Note 3) (1 ) 6 3 Other - (2 ) (2 ) 15 % 26 % 25 % |
Reconciliation of Liabilities Associated with Uncertain Tax Provisions | A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the years ended December 31, 2016, 2015 and 2014 is as follows: (Stated in millions) 2016 2015 2014 Balance at beginning of year $ 1,285 $ 1,402 $ 1,452 Additions based on tax positions related to the current year 70 140 154 Additions for tax positions of prior years 119 136 96 Additions related to acquisitions 127 5 43 Impact of changes in exchange rates (25 ) (78 ) (62 ) Settlements with tax authorities (45 ) (99 ) (27 ) Reductions for tax positions of prior years (85 ) (203 ) (212 ) Reductions due to the lapse of the applicable statute of limitations (27 ) (18 ) (42 ) Balance at end of year $ 1,419 $ 1,285 $ 1,402 |
Tax Years Subject to Examination by Tax Authorities | The following table summarizes the tax years that are either currently under audit or remain open and subject to examination by the tax authorities in the most significant jurisdictions in which Schlumberger operates: Brazil 2011 - 2016 Canada 2009 - 2016 Ecuador 2013 - 2016 Mexico 2010 - 2016 Norway 2013 - 2016 Russia 2013 - 2016 Saudi Arabia 2004 - 2016 United Kingdom 2014 - 2016 United States 2014 - 2016 |
Leases and Lease Commitments (T
Leases and Lease Commitments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Future Minimum Rental Commitments Under Noncancelable Operating Leases | Future minimum rental commitments under noncancelable operating leases for each of the next five years are as follows: (Stated in millions) 2017 $ 292 2018 220 2019 195 2020 167 2021 132 Thereafter 471 $ 1,477 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Financial information for the years ended December 31, 2016, 2015 and 2014, by segment, is as follows: (Stated in millions) 2016 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 6,743 $ 1,228 $ 6,913 $ 1,116 $ 531 Drilling 8,561 994 6,741 904 418 Production 8,709 528 10,453 1,222 647 Cameron 4,211 653 4,246 211 176 Eliminations & other (414 ) (130 ) 1,611 257 283 Pretax operating income 3,273 Goodwill and intangible assets 34,845 All other assets 2,408 Corporate & other (1) (925 ) 10,739 384 Interest income (2) 84 Interest expense (3) (517 ) Charges & credits (4) (3,820 ) $ 27,810 $ (1,905 ) $ 77,956 $ 4,094 $ 2,055 (Stated in millions) 2015 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 9,738 $ 2,465 $ 8,338 $ 1,294 $ 661 Drilling 13,563 2,538 8,549 1,177 672 Production 12,311 1,570 9,866 1,201 812 Eliminations & other (137 ) (63 ) 2,052 213 265 Pretax operating income 6,510 Goodwill and intangible assets 20,174 All other assets 2,262 Corporate & other (1) (768 ) 16,764 193 Interest income (2) 30 Interest expense (3) (316 ) Charges & credits (4) (2,575 ) $ 35,475 $ 2,881 $ 68,005 $ 4,078 $ 2,410 (Stated in millions) 2014 Depreciation Income and Capital Revenue Before Taxes Assets Amortization Expenditures Reservoir Characterization $ 13,339 $ 3,770 $ 9,324 $ 1,482 $ 1,234 Drilling 18,128 3,805 11,155 1,173 1,328 Production 17,329 3,130 11,348 1,043 1,165 Eliminations & other (216 ) (129 ) 1,572 198 249 Pretax operating income 10,576 Goodwill and intangible assets 20,141 All other assets 2,186 Corporate & other (1) (848 ) 11,178 198 Interest income (2) 31 Interest expense (3) (347 ) Charges & credits (4) (1,773 ) $ 48,580 $ 7,639 $ 66,904 $ 4,094 $ 3,976 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets (including intangible asset amortization expense resulting from the 2016 acquisition of Cameron), certain centrally managed initiatives and other nonoperating items. (2) Interest income excludes amounts which are included in the segments’ income (2016: $26 million; 2015: $22 million; 2014: $20 million). (3) Interest expense excludes amounts which are included in the segments’ income (2016: $53 million; 2015: $30 million; 2014: $22 million). (4) See Note 3 – Charges and Credits . |
Revenue by Geographic Area | Revenue by geographic area for the years ended December 31, 2016, 2015 and 2014 is as follows: (Stated in millions) 2016 2015 2014 North America $ 6,665 $ 9,811 $ 16,151 Latin America 4,230 6,014 7,699 Europe/CIS/Africa 7,351 9,284 12,515 Middle East & Asia 9,286 9,898 11,875 Eliminations & other 278 468 340 $ 27,810 $ 35,475 $ 48,580 |
Fixed Assets Less Accumulated Depreciation by Geographic Area | Fixed Assets less accumulated depreciation by geographic area are as follows: (Stated in millions) 2016 2015 2014 North America $ 4,428 $ 4,392 $ 4,885 Latin America 1,460 1,728 1,969 Europe/CIS/Africa 2,706 2,978 3,640 Middle East & Asia 3,149 3,078 3,446 Unallocated (1) 1,078 1,239 1,456 $ 12,821 $ 13,415 $ 15,396 (1) Represents seismic vessels, including the related on-board equipment, which frequently transition between geographic areas. |
Pension and Other Benefit Pla45
Pension and Other Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation And Retirement Disclosure [Abstract] | |
Weighted-Average Assumed Discount Rate, Compensation Increases and Expected Long-Term Rate of Return on Plan Assets Used to Determine Net Pension Cost for US and International Plans | The weighted-average assumed discount rate, compensation increases and the expected long-term rate of return on plan assets used to determine the net pension cost for the US and International plans were as follows: US International 2016 2015 2014 2016 2015 2014 Discount rate 4.50 % 4.15 % 4.85 % 4.36 % 4.07 % 4.76 % Compensation increases 4.00 % 4.00 % 4.00 % 4.80 % 4.79 % 4.80 % Return on plan assets 7.25 % 7.25 % 7.25 % 7.40 % 7.40 % 7.50 % |
Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan | Net pension cost for 2016, 2015 and 2014 included the following components: (Stated in millions) US International 2016 2015 2014 2016 2015 2014 Service cost - benefits earned during the period $ 62 $ 86 $ 72 $ 110 $ 167 $ 126 Interest cost on projected benefit obligation 177 170 164 311 297 288 Expected return on plan assets (235 ) (229 ) (208 ) (517 ) (498 ) (450 ) Amortization of prior service cost 12 12 12 122 121 120 Amortization of net loss 79 123 82 78 170 94 $ 95 $ 162 $ 122 $ 104 $ 257 $ 178 The net periodic benefit cost (credit) for the US postretirement medical plan included the following components: (Stated in millions) 2016 2015 2014 Service cost $ 30 $ 42 $ 43 Interest cost 47 48 60 Expected return on plan assets (57 ) (52 ) (45 ) Amortization of prior service credit (32 ) (32 ) (4 ) Amortization of net loss - 13 1 $ (12 ) $ 19 $ 55 |
Weighted-Average Assumed Discount Rate and Compensation Increases Used to Determine Projected Benefit Obligations for US and International Plans | The weighted-average assumed discount rate and compensation increases used to determine the projected benefit obligations for the US and International plans were as follows: US International 2016 2015 2016 2015 Discount rate 4.20 % 4.50 % 4.13 % 4.36 % Compensation increases 4.00 % 4.00 % 4.81 % 4.80 % |
Changes In Projected Benefit Obligation Plan Assets And Funded Status Of Plans | The changes in the projected benefit obligation, plan assets and funded status of the plans were as follows: (Stated in millions) US International 2016 2015 2016 2015 Change in Projected Benefit Obligations Projected benefit obligation at beginning of year $ 4,025 $ 4,137 $ 7,340 $ 7,249 Service cost 62 86 110 167 Interest cost 177 170 311 297 Contribution by plan participants - - 117 143 Actuarial (gains) losses 137 (205 ) 477 (203 ) Currency effect - - (290 ) (66 ) Benefits paid (183 ) (163 ) (272 ) (247 ) Other 22 - - - Projected benefit obligation at end of year $ 4,240 $ 4,025 $ 7,793 $ 7,340 Change in Plan Assets Plan assets at fair value at beginning of year $ 3,467 $ 3,549 $ 6,832 $ 6,830 Actual return on plan assets 320 (1 ) 715 (5 ) Currency effect - - (318 ) (69 ) Company contributions 4 82 130 198 Contributions by plan participants - - 107 125 Benefits paid (183 ) (163 ) (272 ) (247 ) Other 17 - - - Plan assets at fair value at end of year $ 3,625 $ 3,467 $ 7,194 $ 6,832 Unfunded Liability $ (615 ) $ (558 ) $ (599 ) $ (508 ) Amounts Recognized in Balance Sheet Postretirement Benefits $ (615 ) $ (558 ) $ (724 ) $ (657 ) Other Assets - - 125 149 $ (615 ) $ (558 ) $ (599 ) $ (508 ) Amounts Recognized in Accumulated Other Comprehensive Loss Actuarial losses $ 982 $ 1,008 $ 1,644 $ 1,474 Prior service cost 42 54 114 235 $ 1,024 $ 1,062 $ 1,758 $ 1,709 Accumulated benefit obligation $ 3,999 $ 3,763 $ 7,454 $ 6,913 |
Weighted-Average Allocation of Plan Assets and Target Allocation by Asset Category | The weighted-average allocation of plan assets and the target allocations by asset category are as follows: US International Target 2016 2015 Target 2016 2015 Equity securities 37 - 56 % 52 % 52 % 45 - 71 % 64 % 64 % Debt securities 35 - 62 37 36 20 - 35 25 27 Cash and cash equivalents 0 - 3 2 2 0 - 5 2 2 Alternative investments 0 - 10 9 10 0 - 25 9 7 100 % 100 % 100 % 100 % 100 % 100 % |
Fair Value of Schlumberger's Pension Plan Assets | The fair value of Schlumberger’s pension plan assets at December 31, 2016 and 2015, by asset category, is presented below and was determined based on valuation techniques categorized as follows: Level One: The use of quoted prices in active markets for identical instruments. Level Two: The use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or other inputs that are observable in the market or can be corroborated by observable market data. Level Three: The use of significant unobservable inputs that typically require the use of management’s estimates of assumptions that market participants would use in pricing. (Stated in millions) US Plan Assets 2016 2015 Level Level Level Level Level Level Total One Two Three Total One Two Three Asset Category: Cash and Cash Equivalents $ 60 $ 15 $ 45 $ - $ 86 $ 40 $ 46 $ - Equity Securities: US (a) 1,210 1,049 161 1,195 655 540 International (b) 662 649 13 605 473 132 Debt Securities Corporate bonds (c) 625 625 599 599 Government and government-related debt securities (d) 643 164 479 589 159 430 Collateralized mortgage obligations and mortgage backed securities (e) 92 92 65 65 Alternative Investments: Private equity (f) 191 191 203 203 Real estate (g) 142 142 125 125 Total $ 3,625 $ 1,877 $ 1,415 $ 333 $ 3,467 $ 1,327 $ 1,812 $ 328 (Stated in millions) International Plan Assets 2016 2015 Level Level Level Level Level Level Total One Two Three Total One Two Three Asset Category: Cash and Cash Equivalents $ 184 $ 135 $ 49 $ - $ 138 $ 115 $ 23 $ - Equity Securities: US (a) 2,854 2,324 530 2,736 2,240 496 International (b) 1,726 1,475 251 1,639 1,179 460 Debt Securities Corporate bonds (c) 685 685 657 657 Government and government-related debt securities (d) 1,001 10 991 1,036 8 1,028 Collateralized mortgage obligations and mortgage backed securities (e) 130 130 143 143 Alternative Investments: Private equity (f) 385 385 331 331 Real estate (g) 106 106 49 49 Other 123 123 103 103 Total $ 7,194 $ 3,944 $ 2,636 $ 614 $ 6,832 $ 3,542 $ 2,807 $ 483 (a) US equities include companies that are well-diversified by industry sector and equity style (i.e., growth and value strategies). Active and passive management strategies are employed. Investments are primarily in large capitalization stocks and, to a lesser extent, mid- and small-cap stocks. (b) International equities are invested in companies that are traded on exchanges outside the US and are well-diversified by industry sector, country and equity style. Active and passive strategies are employed. The vast majority of the investments are made in companies in developed markets with a small percentage in emerging markets. (c) Corporate bonds consist primarily of investment grade bonds from diversified industries. (d) Government and government-related debt securities are comprised primarily of inflation-protected US treasuries and, to a lesser extent, other government-related securities. (e) Collateralized mortgage obligations and mortgage backed-securities are debt obligations that represent claims to the cash flows from pools of mortgage loans, which are purchased from banks, mortgage companies, and other originators and then assembled into pools by governmental, quasi-governmental and private entities. (f) Private equity includes investments in several fund of funds limited partnerships. (g) Real estate primarily includes investments in real estate limited partnerships, concentrated in commercial real estate. |
Defined Benefit Plan Weighted Average Assumptions Used in Calculating Benefit Obligation and Net Periodic Benefit Cost for US Postretirement Medical Plan | The actuarial assumptions used to determine the accumulated postretirement benefit obligation and net periodic benefit cost for the US postretirement medical plan were as follows: Benefit Obligations Net Periodic Benefit At December 31, Cost for the Year 2016 2015 2016 2015 2014 Discount rate 4.20 % 4.50 % 4.50 % 4.15 % 4.85 % Return on plan assets - - 7.00 % 7.00 % 7.00 % Current medical cost trend rate 7.25 % 7.50 % 7.50 % 7.00 % 7.25 % Ultimate medical cost trend rate 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Year that the rate reaches the ultimate trend rate 2026 2023 2026 2023 2023 |
Changes in Accumulated Postretirement Benefit Obligation, Plan Assets and Funded Status | The changes in the accumulated postretirement benefit obligation, plan assets and funded status were as follows: (Stated in millions) 2016 2015 Change in Projected Benefit Obligations Benefit obligation at beginning of year $ 1,103 $ 1,221 Service cost 30 42 Interest cost 47 48 Contribution by plan participants 8 7 Actuarial gains (32 ) (168 ) Benefits paid (48 ) (47 ) Benefit obligation at end of year $ 1,108 $ 1,103 Change in Plan Assets Plan assets at fair value at beginning of year $ 884 $ 854 Actual return on plan assets 68 4 Company contributions 40 66 Contributions by plan participants 8 7 Benefits paid (48 ) (47 ) Plan assets at fair value at end of year $ 952 $ 884 Unfunded Liability $ (156 ) $ (219 ) Amounts Recognized in Accumulated Other Comprehensive Loss Actuarial losses $ 62 $ 106 Prior service credit (243 ) (275 ) $ (181 ) $ (169 ) |
Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates | Assumed health care cost trend rates have a significant effect on the amounts reported for the US postretirement medical plan. A one percentage point change in assumed health care cost trend rates would have the following effects: (Stated in millions) One Percentage One Percentage Point Increase Point Decrease Effect on total service and interest cost components $ 3 $ (3 ) Effect on accumulated postretirement benefit obligation $ 34 $ (30 ) |
Expected Benefits to be Paid Under US and International Pension Plans and Postretirement Medical Plan | The expected benefits to be paid under the US and International pension plans as well as the postretirement medical plan are as follows: (Stated in millions) Pension Benefits Postretirement US International Medical Plan 2017 $ 189 $ 258 $ 52 2018 $ 195 $ 273 $ 54 2019 $ 201 $ 286 $ 55 2020 $ 208 $ 300 $ 59 2021 $ 215 $ 313 $ 60 2022-2026 $ 1,188 $ 1,784 $ 325 |
Defined Benefit Plan, Amounts that will be Amortized from Accumulated Other Comprehensive Income (Loss) In Next Fiscal Year | Included in Accumulated other comprehensive loss Accumulated other comprehensive loss (Stated in millions) Postretirement Pension Plans Medical Plan Net actuarial losses $ 157 $ - Prior service cost (credit) $ 109 $ (29 ) |
Supplementary Information (Tabl
Supplementary Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Cash Paid for Interest and Income Taxes | Cash paid for interest and income taxes was as follows: (Stated in millions) 2016 2015 2014 Interest $ 599 $ 346 $ 389 Income tax $ 750 $ 1,567 $ 2,048 |
Interest and Other Income | Interest and other income includes the following: (Stated in millions) 2016 2015 2014 Interest income $ 110 $ 52 $ 51 Earnings of equity method investments 90 184 240 $ 200 $ 236 $ 291 |
Change in Allowance for Doubtful Accounts | The change in Allowance for doubtful accounts (Stated in millions) 2016 2015 2014 Balance at beginning of year $ 333 $ 275 $ 384 Additions 123 75 39 Amounts written off (59 ) (17 ) (148 ) Balance at end of year $ 397 $ 333 $ 275 |
Accounts Payable and Accrued Liabilities | Revenue in excess of billings related to contracts accounted for under the percentage-of-completion method was $0.5 billion at December 31, 2016. Accounts payable and accrued liabilities are summarized as follows: (Stated in millions) 2016 2015 Payroll, vacation and employee benefits $ 1,349 $ 1,424 Trade 4,004 3,243 Deferred revenue 1,088 406 Other 3,575 2,654 $ 10,016 $ 7,727 |
Summary of Accounting Policie47
Summary of Accounting Policies - Additional Information (Detail) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2016USD ($)Countryshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Feb. 29, 2016USD ($) | |
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Fair value of short-term investments considered available-for-sale | $ 503 | |||
Fixed Income Investments, held to maturity | 238 | $ 418 | ||
Fixed Income Investments, held to maturity, 2018 | 225 | |||
Fixed Income Investments, held to maturity, 2019 | 13 | |||
Carrying value of marketable securities | 41 | 41 | ||
Fair value of marketable securities | 59 | 41 | ||
Amortization expenses of capitalized investments | $ 449 | $ 317 | $ 315 | |
Number of reportable segments accounted for greater than 10% of accounts receivable | Country | 0 | |||
Employee stock options to purchase | shares | 47 | 20 | 5 | |
Unvested restricted stock outstanding | shares | 4 | 4 | ||
ASU No. 2016-02 | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
New accounting pronouncement or change in accounting principle effect of additional assets and liabilities | $ 1,300 | |||
Unvested Restricted Stock Units | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Unvested restricted stock outstanding | shares | 5 | |||
Minimum | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Number of countries in which Schlumberger conducts business | Country | 85 | |||
Customer Concentration Risk | United States | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Concentration risk, percentage | 11.00% | |||
Customer Concentration Risk | Venezuela | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Concentration risk, percentage | 12.00% | |||
Customer Concentration Risk | Ecuador | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Concentration risk, percentage | 12.00% | |||
Schlumberger Production Management | ||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ||||
Unamortized investments | $ 2,458 | $ 1,829 |
Summary of Accounting Policie48
Summary of Accounting Policies - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schlumberger Income (Loss) from Continuing Operations | |||
Basic | $ (1,687) | $ 2,072 | $ 5,643 |
Diluted | $ (1,687) | $ 2,072 | $ 5,643 |
Average Shares Outstanding | |||
Basic | 1,357 | 1,267 | 1,295 |
Assumed exercise of stock options | 4 | 9 | |
Unvested restricted stock | 4 | 4 | |
Diluted | 1,357 | 1,275 | 1,308 |
Earnings (Loss) per Share from Continuing Operations | |||
Basic | $ (1.24) | $ 1.63 | $ 4.36 |
Diluted | $ (1.24) | $ 1.63 | $ 4.31 |
Charges and Credits - Additiona
Charges and Credits - Additional Information (Detail) $ / shares in Units, $ in Millions | Apr. 02, 2016USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($)VEF / $ | Dec. 31, 2014USD ($)VEF / $ | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)VesselVEF / $ |
Charges And Credits [Line Items] | |||||||||
Restructuring and other charges | $ 3,820 | $ 2,575 | $ 1,773 | ||||||
Exchange rate | VEF / $ | 192 | 6.3 | 6.3 | ||||||
Foreign currency transactions, description | This change results in a reduction in the US dollar reported amount of local currency denominated revenues, expenses and, consequently, income before taxes and net income in Venezuela. If Schlumberger had applied an exchange rate of 192 Venezuelan Bolivares fuertes to the US dollar throughout 2014, it would have reduced Schlumberger earnings by approximately $0.09 per share. | ||||||||
Foreign currency translation decrease in earnings per share | $ / shares | $ 0.09 | ||||||||
Vessel termination, description | Three previous-generation acquisition vessels with lower towing capacity and higher operating costs will be converted to source vessels, allowing for the termination of two third-party source vessel leases and the retirement of two owned source vessels. | ||||||||
Impairment charge, Pretax | $ 199 | ||||||||
Charges, Pretax | $ 296 | ||||||||
SICAD I | |||||||||
Charges And Credits [Line Items] | |||||||||
Exchange rate, approximated | VEF / $ | 11 | 11 | |||||||
SICAD II | |||||||||
Charges And Credits [Line Items] | |||||||||
Exchange rate, approximated | VEF / $ | 50 | 50 | |||||||
Certain intangible assets | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment charge, Pretax | $ 85 | ||||||||
Current Market Conditions | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | $ 84 | ||||||||
Other Than Temporary Impairment Of Marketable Securities | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 40 | ||||||||
Impairment of Equity Method Investment | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 15 | ||||||||
Explorer-class vessels | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment charge, Pretax | 590 | ||||||||
Eastern Echo Holdings Plc. | Explorer-class vessels | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment charge, Pretax | $ 590 | ||||||||
Number of vessels acquired | Vessel | 6 | ||||||||
North America | Lower-Tier Drilling Rigs | Pressure Pumping And Other Equipment | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 776 | ||||||||
Lease termination facility | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring charges | $ 302 | ||||||||
Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | $ 648 | $ 648 | |||||||
Merger and Integration | Cameron | Inventory fair value adjustments | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 299 | ||||||||
Impairment And Other | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 3,172 | ||||||||
Lease termination costs | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 177 | ||||||||
Lease termination costs | Other seismic assets | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring, other pretax charge | $ 131 | ||||||||
Workforce reduction | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring and other charges | 234 | $ 646 | 530 | $ 390 | 400 | ||||
Facility closure costs | Lease termination facility | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring charges | 165 | ||||||||
Facility closure costs | Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 226 | ||||||||
Facility closure costs | Merger and Integration | Cameron | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 61 | ||||||||
Asset write-offs | Lease termination facility | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring charges | 98 | ||||||||
Contract termination costs | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 41 | ||||||||
Contract termination costs | Lease termination facility | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring charges | 39 | ||||||||
Currency Devaluation Loss In Egypt | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring and other charges | $ 63 | 63 | |||||||
Currency Devaluation Loss In Egypt | Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 63 | ||||||||
North America pressure pumping asset impairments | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | 209 | ||||||||
Facilities impairments | North America | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | 165 | ||||||||
Other fixed asset impairments | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | 684 | ||||||||
Inventory Write Down | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | 616 | ||||||||
Inventory Write Down | North America | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 269 | ||||||||
Multiclient seismic data impairment | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | 198 | ||||||||
Other restructuring costs | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and other charges | $ 55 | ||||||||
Merger-related employee benefits | Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 83 | ||||||||
Merger-related employee benefits | Merger and Integration | Cameron | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 83 | ||||||||
Professional fees | Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 45 | ||||||||
Professional fees | Merger and Integration | Cameron | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | 45 | ||||||||
Other merger and integration-related | Merger and Integration | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | $ 160 | ||||||||
Other merger and integration-related | Merger and Integration | Cameron | |||||||||
Charges And Credits [Line Items] | |||||||||
Charges and credits, Pretax | $ 160 | ||||||||
Impairment of SPM Project | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | 182 | ||||||||
Geopolitical Events | Middle East | |||||||||
Charges And Credits [Line Items] | |||||||||
Impairment and restructuring charges | $ 77 | ||||||||
Currency Devaluation Loss In Venezuela | |||||||||
Charges And Credits [Line Items] | |||||||||
Restructuring and other charges | $ 49 | $ 472 | $ 49 | $ 472 |
Charges and Credits - Summary o
Charges and Credits - Summary of Charges and Credits (Detail) - USD ($) $ in Millions | Apr. 02, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Impairment And Other | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | $ 2,575 | $ 1,773 | ||
Charges and credits, Tax | 357 | 134 | ||
Charges and credits, Net | 2,218 | 1,639 | ||
Impairment And Other | Workforce reduction | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | $ 880 | 920 | 296 | |
Charges and credits, Tax | 69 | 107 | 37 | |
Charges and credits, Net | 811 | 813 | 259 | |
Impairment And Other | North America pressure pumping asset impairments | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 209 | |||
Charges and credits, Tax | 67 | |||
Charges and credits, Net | 142 | |||
Impairment And Other | Inventory Write Down | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 616 | 269 | ||
Charges and credits, Tax | 49 | 27 | ||
Charges and credits, Net | 567 | 242 | ||
Impairment And Other | Facilities impairments | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 165 | |||
Charges and credits, Tax | 58 | |||
Charges and credits, Net | 107 | |||
Impairment And Other | Other fixed asset impairments | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 684 | |||
Charges and credits, Tax | 52 | |||
Charges and credits, Net | 632 | |||
Impairment And Other | Multiclient seismic data impairment | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 198 | |||
Charges and credits, Tax | 62 | |||
Charges and credits, Net | 136 | |||
Impairment And Other | Other restructuring charges | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 55 | 84 | ||
Charges and credits, Tax | 7 | |||
Charges and credits, Net | 55 | 77 | ||
Impairment And Other | Costs associated with exiting certain activities | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 98 | |||
Charges and credits, Tax | 23 | |||
Charges and credits, Net | 75 | |||
Impairment And Other | Contract termination costs | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 39 | 41 | ||
Charges and credits, Tax | 9 | 2 | ||
Charges and credits, Net | 30 | 39 | ||
Impairment And Other | Fixed asset impairments | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 776 | |||
Charges and credits, Tax | 141 | |||
Charges and credits, Net | 635 | |||
Impairment And Other | Impairment of SPM Project | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 182 | 199 | ||
Charges and credits, Tax | 36 | 72 | ||
Charges and credits, Net | 146 | 127 | ||
Impairment And Other | Facility closures | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 177 | |||
Charges and credits, Tax | 37 | |||
Charges and credits, Net | 140 | |||
Impairment And Other | Geopolitical Events | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 77 | |||
Charges and credits, Net | 77 | |||
Impairment And Other | Currency Devaluation Loss In Venezuela | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 49 | 472 | ||
Charges and credits, Net | $ 49 | 472 | ||
Impairment And Other | WesternGeco restructuring | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 806 | |||
Charges and credits, Tax | 25 | |||
Charges and credits, Net | $ 781 | |||
Merger and Integration | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | $ 648 | 648 | ||
Merger and Integration | Amortization of inventory fair value adjustment | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 299 | |||
Charges and credits, Tax | 90 | |||
Charges and credits, Net | 209 | |||
Merger and Integration | Merger-related employee benefits | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 83 | |||
Charges and credits, Tax | 13 | |||
Charges and credits, Net | 70 | |||
Merger and Integration | Professional fees | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 45 | |||
Charges and credits, Tax | 10 | |||
Charges and credits, Net | 35 | |||
Merger and Integration | Facility closure costs | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 226 | |||
Charges and credits, Tax | 53 | |||
Charges and credits, Net | 173 | |||
Merger and Integration | Currency Devaluation Loss In Egypt | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 63 | |||
Charges and credits, Net | 63 | |||
Merger and Integration | Other merger and integration-related | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 160 | |||
Charges and credits, Tax | 28 | |||
Charges and credits, Net | 132 | |||
Impairment & Other and Merger & Integration | ||||
Investment In Joint Venture [Line Items] | ||||
Charges and credits, Pretax | 3,820 | |||
Charges and credits, Tax | 583 | |||
Charges and credits, Net | $ 3,237 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Apr. 02, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||||
Revenues | $ 29,438 | $ 44,306 | |||
Acquisitions and investments, net of cash acquired | 2,398 | 443 | $ 1,008 | ||
Cameron | |||||
Business Acquisition [Line Items] | |||||
Common stock received by Cameron shareholders | 71.60% | ||||
Cash payment in exchange of each share of common stock | $ 14.44 | ||||
Revenues | $ 4,000 | ||||
Pretax operating income | $ 700 | ||||
After-tax merger and integration charges included or excluded in pro forma amounts | 285 | 285 | |||
Shares of common stock issued in connection with acquisition | 138 | ||||
Cameron | Inventory Fair Value Adjustment | |||||
Business Acquisition [Line Items] | |||||
After-tax amortization charges included in pro forma amounts | 209 | 209 | |||
Other Acquisitions | |||||
Business Acquisition [Line Items] | |||||
Acquisitions and investments, net of cash acquired | $ 407 | $ 443 | $ 1,008 | ||
Shares of common stock issued in connection with acquisition | 2.1 | ||||
Value of common stock issued in connection with acquisition | $ 213 |
Acquisitions - Schedule of Fair
Acquisitions - Schedule of Fair Value of Consideration Transferred to Effect Acquisition (Detail) $ / shares in Units, $ in Millions | Apr. 02, 2016USD ($)$ / sharesshares | Dec. 31, 2016shares | Dec. 31, 2015shares |
Equity consideration: | |||
Number of shares of Cameron stock outstanding | 1,391,475,510 | 1,256,367,980 | |
Cash consideration: | |||
Number of shares of Cameron stock outstanding | 1,391,475,510 | 1,256,367,980 | |
Cameron | |||
Equity consideration: | |||
Number of shares of Cameron stock outstanding | 192,000,000 | ||
Exchange ratio | 0.716 | ||
Schlumberger shares of common stock issued | 138,000,000 | ||
Schlumberger closing stock share price on April 1, 2016 | $ / shares | $ 72.12 | ||
Equity consideration | $ | $ 9,924 | ||
Cash consideration: | |||
Number of shares of Cameron stock outstanding | 192,000,000 | ||
Cash consideration per Cameron share | $ / shares | $ 14.44 | ||
Cash consideration | $ | $ 2,776 | ||
Other: | |||
Fair value of replacement equity awards | $ | 103 | ||
Total fair value of the consideration transferred | $ | $ 12,803 |
Acquisitions - Schedule of Prel
Acquisitions - Schedule of Preliminary Estimates of Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Apr. 02, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Business Acquisition [Line Items] | ||||||
Cash | $ 785 | |||||
Short-term investments | 1,448 | |||||
Accounts receivable | 1,669 | |||||
Inventories | [1] | 2,350 | ||||
Fixed assets | 1,320 | |||||
Intangible assets: | ||||||
Other assets | 511 | |||||
Accounts payable and accrued liabilities | (2,604) | |||||
Long-term debt | [2] | (3,018) | ||||
Deferred taxes | [3] | (1,343) | ||||
Other liabilities | (538) | |||||
Sub-total | 5,912 | |||||
Noncontrolling interests | (57) | |||||
Total identifiable net assets | 3,790 | |||||
Goodwill | $ 24,990 | 9,013 | [4] | $ 15,605 | $ 15,487 | |
Total consideration transferred | 12,803 | |||||
Customer Relationships | ||||||
Intangible assets: | ||||||
Intangible assets | 2,371 | |||||
Technology/Technical know-how | ||||||
Intangible assets: | ||||||
Intangible assets | 1,736 | |||||
Tradenames | ||||||
Intangible assets: | ||||||
Intangible assets | 1,225 | |||||
OneSubsea | ||||||
Intangible assets: | ||||||
Investment in OneSubsea | [5] | $ (2,065) | ||||
[1] | Schlumberger recorded an adjustment of $299 million to write-up the acquired inventory to its estimated fair value. Schlumberger’s 2016 cost of sales reflected this increased valuation. | |||||
[2] | In connection with the merger, Schlumberger assumed all of the debt obligations of Cameron, including its $2.75 billion of fixed rate notes. Schlumberger recorded a $244 million adjustment to increase the carrying amount of these notes to their estimated fair value. This adjustment is being amortized as a reduction of interest expense over the remaining term of the respective obligations. | |||||
[3] | In connection with the acquisition accounting, Schlumberger provided deferred taxes related to, among other items, the estimated fair value adjustments for acquired inventory, intangible assets and assumed debt obligations. | |||||
[4] | The goodwill recognized is primarily attributable to expected synergies that will result from combining the operations of Schlumberger and Cameron, as well as intangible assets which do not qualify for separate recognition. The amount of goodwill that is deductible for income tax purposes is not significant. | |||||
[5] | Prior to the completion of the merger, Cameron and Schlumberger operated OneSubsea, a joint venture that manufactured and developed products, systems and services for the subsea oil and gas market, which was 40% owned by Schlumberger and 60% owned by Cameron. OneSubsea is now owned 100% by Schlumberger. As a result of obtaining control of this joint venture, Schlumberger was required to remeasure its previously held equity interest in the joint venture to its acquisition-date fair value. Schlumberger determined that the estimated fair value of its previously held equity interest approximated its carrying value. Accordingly, Schlumberger did not recognize any gain or loss on this transaction. |
Acquisitions - Schedule of Pr54
Acquisitions - Schedule of Preliminary Estimates of Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Millions | Apr. 02, 2016USD ($) | |
Business Acquisition [Line Items] | ||
Fair value adjustment to inventory | $ 299 | |
Debt obligations assumed | 3,018 | [1] |
Increase in fair value of notes | $ 244 | |
Customer Relationships | ||
Business Acquisition [Line Items] | ||
Weighted-average life | 25 years | |
Technology/Technical know-how | ||
Business Acquisition [Line Items] | ||
Weighted-average life | 16 years | |
Tradenames | ||
Business Acquisition [Line Items] | ||
Weighted-average life | 25 years | |
Cameron | ||
Business Acquisition [Line Items] | ||
Debt obligations assumed | $ 2,750 | |
OneSubsea | ||
Business Acquisition [Line Items] | ||
Prior to completion of merger, ownership percentage in joint venture | 40.00% | |
Ownership percentage after completion of merger | 100.00% | |
OneSubsea | Cameron | ||
Business Acquisition [Line Items] | ||
Prior to completion of merger, ownership percentage in joint venture by parent | 60.00% | |
[1] | In connection with the merger, Schlumberger assumed all of the debt obligations of Cameron, including its $2.75 billion of fixed rate notes. Schlumberger recorded a $244 million adjustment to increase the carrying amount of these notes to their estimated fair value. This adjustment is being amortized as a reduction of interest expense over the remaining term of the respective obligations. |
Acquisitions - Schedule of Supp
Acquisitions - Schedule of Supplemental Pro Forma Financial Information from Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Business Combinations [Abstract] | ||
Revenue | $ 29,438 | $ 44,306 |
Net income (loss) attributable to Schlumberger | $ (1,419) | $ 2,000 |
Diluted earnings (loss) per share | $ (1.02) | $ 1.42 |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Raw materials & field materials | $ 1,720 | $ 2,300 |
Work in progress | 610 | 178 |
Finished goods | 1,895 | 1,278 |
Inventories | $ 4,225 | $ 3,756 |
Fixed Assets - Summary of Fixed
Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Property Plant And Equipment [Line Items] | |||
Fixed assets gross | $ 40,008 | $ 37,120 | |
Less: Accumulated depreciation | 27,187 | 23,705 | |
Fixed assets less accumulated depreciation | 12,821 | 13,415 | $ 15,396 |
Land | |||
Property Plant And Equipment [Line Items] | |||
Fixed assets gross | 479 | 425 | |
Buildings & improvements | |||
Property Plant And Equipment [Line Items] | |||
Fixed assets gross | 4,849 | 3,960 | |
Machinery & equipment | |||
Property Plant And Equipment [Line Items] | |||
Fixed assets gross | 33,834 | 31,885 | |
Seismic vessels | |||
Property Plant And Equipment [Line Items] | |||
Fixed assets gross | $ 846 | $ 850 |
Fixed Assets - Additional Infor
Fixed Assets - Additional Information (Detail) - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property Plant And Equipment [Line Items] | |||
Depreciation expense relating to fixed assets | $ 2.7 | $ 3.2 | $ 3.2 |
Building and Building Improvements | Minimum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 25 years | ||
Building and Building Improvements | Maximum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 30 years | ||
Machinery and Equipment | Minimum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 5 years | ||
Machinery and Equipment | Maximum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 10 years | ||
Seismic Vessels | Minimum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 20 years | ||
Seismic Vessels | Maximum | |||
Property Plant And Equipment [Line Items] | |||
Useful Life | 30 years |
Multiclient Seismic Data - Chan
Multiclient Seismic Data - Change in Carrying Amount of Multiclient Seismic Data (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Multiclient Seismic Data [Abstract] | ||
Opening balance | $ 1,026 | $ 793 |
Capitalized in period | 630 | 486 |
Charged to expense | (385) | (253) |
Impairment charge (see Note 3) | (198) | |
Ending balance | $ 1,073 | $ 1,026 |
Goodwill - Changes in Carrying
Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 15,605 | $ 15,487 |
Acquisitions | 9,013 | 244 |
Other acquisitions | 345 | |
Impact of changes in exchange rates | 27 | (126) |
Goodwill, Ending Balance | 24,990 | 15,605 |
Cameron | ||
Goodwill [Line Items] | ||
Acquisitions | 5,563 | |
Reallocation | (146) | |
Goodwill, Ending Balance | 5,417 | |
Operating Segments | Reservoir Characterization | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 3,798 | 3,812 |
Acquisitions | 790 | 38 |
Other acquisitions | 79 | |
Reallocation | 146 | |
Impact of changes in exchange rates | 7 | (52) |
Goodwill, Ending Balance | 4,820 | 3,798 |
Operating Segments | Drilling | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 8,584 | 8,488 |
Acquisitions | 1,490 | 130 |
Other acquisitions | 24 | |
Impact of changes in exchange rates | 16 | (34) |
Goodwill, Ending Balance | 10,114 | 8,584 |
Operating Segments | Production | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 3,223 | 3,187 |
Acquisitions | 1,170 | 76 |
Other acquisitions | 242 | |
Impact of changes in exchange rates | 4 | (40) |
Goodwill, Ending Balance | $ 4,639 | $ 3,223 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | $ 12,562 | $ 6,491 |
Accumulated Amortization | 2,707 | 1,922 |
Net Book Value | 9,855 | 4,569 |
Customer Relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 4,938 | 2,489 |
Accumulated Amortization | 865 | 645 |
Net Book Value | 4,073 | 1,844 |
Technology/Technical Know-How | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 3,655 | 1,864 |
Accumulated Amortization | 835 | 653 |
Net Book Value | 2,820 | 1,211 |
Tradenames | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 2,847 | 1,625 |
Accumulated Amortization | 458 | 367 |
Net Book Value | 2,389 | 1,258 |
Other | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,122 | 513 |
Accumulated Amortization | 549 | 257 |
Net Book Value | $ 573 | $ 256 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Finite Lived Intangible Assets [Line Items] | |||
Estimated amortization charged to income, 2017 | $ 677 | ||
Estimated amortization charged to income, 2018 | 669 | ||
Estimated amortization charged to income, 2019 | 647 | ||
Estimated amortization charged to income, 2020 | 606 | ||
Estimated amortization charged to income, 2021 | 581 | ||
Amortization expense | $ 567 | $ 354 | $ 344 |
Customer Relationships | Minimum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 18 years | ||
Customer Relationships | Maximum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 28 years | ||
Technology/Technical Know-How | Minimum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 10 years | ||
Technology/Technical Know-How | Maximum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 18 years | ||
Tradenames | Minimum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 15 years | ||
Tradenames | Maximum | |||
Finite Lived Intangible Assets [Line Items] | |||
Amortization period | 30 years |
Long-term Debt and Debt Facil63
Long-term Debt and Debt Facility Agreements - Long-term Debt (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | $ 16,463 | $ 14,442 | |
Commercial paper borrowings | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 2,421 | 1,000 | |
4.00% Senior Notes due 2025 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,740 | 1,741 | |
3.30% Senior Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,594 | 1,597 | |
3.00% Senior Notes due 2020 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,591 | 1,591 | |
3.65% Senior Notes due 2023 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,491 | 1,496 | |
2.35% Senior Notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,297 | 1,297 | |
4.20% Senior Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,100 | 1,100 | |
2.40% Senior Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 996 | 999 | |
3.63% Senior Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 845 | 845 | |
0.63% Guaranteed Notes due 2019 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 622 | ||
1.50% Guaranteed Notes due 2019 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [1] | 536 | 566 |
1.90% Senior Notes due 2017 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 499 | ||
6.38% Notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 297 | |
1.25% Senior Notes due 2017 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,000 | ||
7.00% Notes due 2038 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 214 | |
4.50% Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 137 | |
5.95% Notes due 2041 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 116 | |
Other | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | 1,118 | $ 711 | |
3.60% Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 110 | |
5.13% Notes due 2043 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 99 | |
4.00% Notes due 2023 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | 83 | |
3.70% Notes due 2024 | |||
Debt Instrument [Line Items] | |||
Long-term debt, carrying amount | [2] | $ 56 | |
[1] | Schlumberger maintains a €5.0 billion Guaranteed Euro Medium Term Note program that provides for the issuance of various types of debt instruments such as fixed or floating rate notes in euro, US dollar or other currencies. Schlumberger issued €0.5 billion 1.50% Guaranteed Notes due 2019 under this program in 2013. | ||
[2] | Represents long-term fixed rate debt obligations assumed in connection with the acquisition of Cameron, net of amounts repurchased subsequent to the closing of the transaction. |
Long-term Debt and Debt Facil64
Long-term Debt and Debt Facility Agreements - Long-term Debt (Parenthetical) (Detail) - EUR (€) € in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2013 | |
4.00% Senior Notes due 2025 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 4.00% | 4.00% | |
Debt instrument maturity date | 2,025 | 2,025 | |
3.30% Senior Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.30% | 3.30% | |
Debt instrument maturity date | 2,021 | 2,021 | |
3.00% Senior Notes due 2020 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.00% | 3.00% | |
Debt instrument maturity date | 2,020 | 2,020 | |
3.65% Senior Notes due 2023 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.65% | 3.65% | |
Debt instrument maturity date | 2,023 | 2,023 | |
2.35% Senior Notes due 2018 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 2.35% | 2.35% | |
Debt instrument maturity date | 2,018 | 2,018 | |
4.20% Senior Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 4.20% | 4.20% | |
Debt instrument maturity date | 2,021 | 2,021 | |
2.40% Senior Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 2.40% | 2.40% | |
Debt instrument maturity date | 2,022 | 2,022 | |
3.63% Senior Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.63% | 3.63% | |
Debt instrument maturity date | 2,022 | 2,022 | |
0.63% Guaranteed Notes due 2019 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.63% | 0.63% | |
Debt instrument maturity date | 2,019 | 2,019 | |
1.50% Guaranteed Notes due 2019 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 1.50% | 1.50% | 1.50% |
Debt instrument maturity date | 2,019 | 2,019 | 2,019 |
Guaranteed notes face amount | € 0.5 | ||
Long-term debt, carrying amount | € 0.5 | ||
6.38% Notes due 2018 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 6.38% | 6.38% | |
Debt instrument maturity date | 2,018 | 2,018 | |
7.00% Notes due 2038 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 7.00% | 7.00% | |
Debt instrument maturity date | 2,038 | 2,038 | |
4.50% Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 4.50% | 4.50% | |
Debt instrument maturity date | 2,021 | 2,021 | |
5.95% Notes due 2041 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 5.95% | 5.95% | |
Debt instrument maturity date | 2,041 | 2,041 | |
3.60% Notes due 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.60% | 3.60% | |
Debt instrument maturity date | 2,022 | 2,022 | |
5.13% Notes due 2043 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 5.13% | 5.13% | |
Debt instrument maturity date | 2,043 | 2,043 | |
4.00% Notes due 2023 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 4.00% | 4.00% | |
Debt instrument maturity date | 2,023 | 2,023 | |
3.70% Notes due 2024 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 3.70% | 3.70% | |
Debt instrument maturity date | 2,024 | 2,024 | |
1.25% Senior Notes due 2017 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 1.25% | 1.25% | |
Debt instrument maturity date | 2,017 | 2,017 | |
1.90% Senior Notes due 2017 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 1.90% | 1.90% | |
Debt instrument maturity date | 2,017 | 2,017 | |
Euro Medium Term Note Program | |||
Debt Instrument [Line Items] | |||
Guaranteed notes face amount | € 5 |
Long-term Debt and Debt Facil65
Long-term Debt and Debt Facility Agreements - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Investment in subsidiary-Schlumberger Investment SA | 100.00% | |
Committed debt facility agreement aggregated | $ 6,600 | |
Unused debt facility | 4,000 | |
Long-term debt - current portion | 1,975 | $ 3,011 |
Long-term debt, carrying amount | $ 16,463 | 14,442 |
Weighted average interest rate on variable rate debt | 1.70% | |
Long-term Debt maturity in 2018 | $ 2,000 | |
Long-term Debt maturity in 2019 | 1,300 | |
Long-term Debt maturity in 2020 | 2,600 | |
Long-term Debt maturity in 2021 | 4,800 | |
Long-term Debt maturity in 2022 | 2,000 | |
Long-term Debt maturity in 2023 | 1,600 | |
Long-term Debt maturity in 2025 | 1,800 | |
Long-term Debt maturity thereafter | 400 | |
Long-term debt, fair value | 16,800 | 14,400 |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Committed debt facility agreement aggregated | 6,300 | |
Long-term debt - current portion | 200 | 1,400 |
Long-term debt, carrying amount | 2,421 | 1,000 |
Long-term debt | 2,600 | $ 2,400 |
Commercial paper programs mature in February 2017 | ||
Debt Instrument [Line Items] | ||
Committed debt facility agreement aggregated | 1,000 | |
Commercial paper programs mature in July 2018 | ||
Debt Instrument [Line Items] | ||
Committed debt facility agreement aggregated | 1,800 | |
Commercial paper programs mature in November 2020 | ||
Debt Instrument [Line Items] | ||
Committed debt facility agreement aggregated | 1,500 | |
Commercial paper programs mature in February 2021 | ||
Debt Instrument [Line Items] | ||
Committed debt facility agreement aggregated | $ 2,000 |
Derivative Instruments and He66
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2016USD ($)Country | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2016USD ($)Country | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013EUR (€) | |
Derivative [Line Items] | |||||||
Fixed rate debt aggregate, after taking into account the effects of the interest rate swaps | $ 14,100,000,000 | $ 14,100,000,000 | |||||
Variable rate debt aggregate, after taking into account the effects of the interest rate swaps | 5,500,000,000 | 5,500,000,000 | |||||
Short-term investments and fixed income investments, held to maturity | 6,600,000,000 | $ 6,600,000,000 | |||||
Percentage of revenue denominated in domestic currency | 77.00% | ||||||
Recognized a cumulative net (loss) in Accumulated other comprehensive loss relating to revaluation of foreign currency forward contracts and foreign currency options designated as cash flow hedges | $ (19,000,000) | ||||||
Transaction losses of hedging activities | 93,000,000 | $ 76,000,000 | $ 539,000,000 | ||||
Restructuring and other charges | 3,820,000,000 | 2,575,000,000 | 1,773,000,000 | ||||
Currency Devaluation Loss In Egypt | |||||||
Derivative [Line Items] | |||||||
Restructuring and other charges | $ 63,000,000 | $ 63,000,000 | |||||
Currency Devaluation Loss In Venezuela | |||||||
Derivative [Line Items] | |||||||
Restructuring and other charges | $ 49,000,000 | $ 472,000,000 | $ 49,000,000 | $ 472,000,000 | |||
Minimum | |||||||
Derivative [Line Items] | |||||||
Number of countries in which Schlumberger conducts business | Country | 85 | 85 | |||||
1.50% Guaranteed Notes due 2019 | |||||||
Derivative [Line Items] | |||||||
Guaranteed notes face amount | € | € 500,000,000 | ||||||
Cross currency swap | |||||||
Derivative [Line Items] | |||||||
Notional amount of interest rate swap | € | € 500,000,000 | ||||||
Fixed Rate Debt | 1.50% Guaranteed Notes due 2019 | |||||||
Derivative [Line Items] | |||||||
Derivative swap interest rate | 1.50% | ||||||
Floating Rate Debt | 1.50% Guaranteed Notes due 2019 | |||||||
Derivative [Line Items] | |||||||
Floating interest rate on securities | three-month LIBOR plus approximately 64 basis points | ||||||
Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
Notional amount of interest rate swap | $ 5,500,000,000 | $ 5,500,000,000 | |||||
Foreign exchange contracts | Debt | Derivatives designated as hedges | |||||||
Derivative [Line Items] | |||||||
Notional amount of interest rate swap | $ 1,100,000,000 | $ 1,100,000,000 | |||||
London Interbank Offered Rate (LIBOR) | Floating Rate Debt | 1.50% Guaranteed Notes due 2019 | |||||||
Derivative [Line Items] | |||||||
Basis point | 0.64% | 0.64% |
Derivative Instruments and He67
Derivative Instruments and Hedging Activities - Fair Values of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative Assets | ||
Derivative Assets | $ 43 | $ 25 |
Derivative Liabilities | ||
Derivative Liabilities | 126 | 87 |
Derivatives designated as hedges | ||
Derivative Assets | ||
Derivative Assets | 1 | 10 |
Derivative Liabilities | ||
Derivative Liabilities | 67 | 62 |
Foreign exchange contracts | Derivatives designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 1 | 4 |
Foreign exchange contracts | Derivatives designated as hedges | Other Assets | ||
Derivative Assets | ||
Derivative Assets | 6 | |
Foreign exchange contracts | Derivatives designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 18 | 37 |
Foreign exchange contracts | Derivatives designated as hedges | Other Liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 3 | |
Foreign exchange contracts | Derivatives not designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 42 | 15 |
Foreign exchange contracts | Derivatives not designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 59 | 25 |
Cross currency swap | Derivatives designated as hedges | Other Liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | $ 49 | $ 22 |
Derivative Instruments and He68
Derivative Instruments and Hedging Activities - Effect of Derivative Instruments Designated as Fair Value Hedges and Not Designated as Hedges on Consolidated Statement of Income (Detail) - Cash Flow Hedging - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivatives designated as hedges | Cross currency swap | Interest expense | |||
Derivative Instruments Gain Loss [Line Items] | |||
Gain (Loss) Recognized in Income | $ (31) | $ (64) | $ (82) |
Derivatives not designated as hedges | Foreign exchange contracts | Cost of services/sales | |||
Derivative Instruments Gain Loss [Line Items] | |||
Gain (Loss) Recognized in Income | $ (246) | $ (154) | $ (95) |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Equity [Abstract] | |||
Common stock, shares authorized | 4,500,000,000 | ||
Common stock, par value | $ 0.01 | ||
Common stock, shares outstanding | 1,391,475,510 | 1,256,367,980 | |
Preferred stock, shares authorized | 200,000,000 | ||
Preferred stock, par value | $ 0.01 | ||
Preferred stock, issued | 0 | ||
Other comprehensive loss | $ 85 | $ 352 | $ 1,652 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | $ 35,905 | $ 38,049 | $ 39,635 |
Other comprehensive income (loss) before reclassifications | (452) | (960) | (2,152) |
Amounts reclassified from accumulated other comprehensive loss | 380 | 682 | 418 |
Income taxes | (13) | (74) | 82 |
Balance | 41,529 | 35,905 | 38,049 |
Currency Translation Adjustments | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | (2,053) | (1,531) | (1,068) |
Other comprehensive income (loss) before reclassifications | (83) | (522) | (463) |
Balance | (2,136) | (2,053) | (1,531) |
Unrealized Gain/(Loss) on Marketable Securities | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | 10 | 176 | |
Other comprehensive income (loss) before reclassifications | 21 | (50) | (166) |
Amounts reclassified from accumulated other comprehensive loss | 40 | ||
Balance | 21 | 10 | |
Cash Flow Hedges | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | (39) | (96) | 29 |
Other comprehensive income (loss) before reclassifications | (101) | (178) | (238) |
Amounts reclassified from accumulated other comprehensive loss | 121 | 235 | 113 |
Balance | (19) | (39) | (96) |
Pension and Other Postretirement Benefit Plans | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | (2,466) | (2,589) | (1,691) |
Other comprehensive income (loss) before reclassifications | (289) | (210) | (1,285) |
Amounts reclassified from accumulated other comprehensive loss | 259 | 407 | 305 |
Income taxes | (13) | (74) | 82 |
Balance | (2,509) | (2,466) | (2,589) |
Accumulated Other Comprehensive Loss | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Balance | (4,558) | (4,206) | (2,554) |
Balance | $ (4,643) | $ (4,558) | $ (4,206) |
Stock-based Compensation Plan71
Stock-based Compensation Plans - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Aggregate intrinsic value of stock options outstanding | $ 393 | |||
Aggregate intrinsic value of stock options exercisable | 280 | |||
Total intrinsic value of options exercised | 45 | $ 62 | $ 314 | |
Total unrecognized compensation cost related to nonvested stock-based compensation arrangements | 480 | |||
Expected to be recognized in 2017 | 212 | |||
Expected to be recognized in 2018 | 157 | |||
Expected to be recognized in 2019 | 74 | |||
Expected to be recognized in 2020 | 31 | |||
Expected to be recognized in 2021 | $ 6 | |||
Future Grants Shares | 20,000,000 | |||
Employee Stock Option | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock option maximum term | 10 years | |||
Stock options vesting period | Four or Five Years | |||
Weighted-average remaining contractual life of stock options exercisable, in years | 4 years 6 months | |||
Performance Shares | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Performance period to determine shares earned | 3 years | |||
Performance shares outstanding | 1,000,000 | |||
Performance Shares | Achievement Exceeds Predefined Target | Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Performance shares to be granted as a percentage of total target award | 250.00% | |||
Performance Shares | Achievement Falls Below Threshold | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Performance shares to be granted | 0 | |||
Restricted Stock | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Performance shares to be granted | 1,678,000 | 1,254,000 | 1,341,000 | |
Performance shares outstanding | 5,112,000 | 3,571,000 | 4,138,000 | 4,171,000 |
Restricted stock awards, vesting period | 3 years | |||
DSPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Percentage purchase price of stock lower of stock price at beginning or end of plan period at specified intervals | 92.50% |
Stock-based Compensation Plan72
Stock-based Compensation Plans - Weighted-Average Assumptions (Detail) - Employee Stock Option - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Dividend yield | 2.70% | 2.30% | 1.60% |
Expected volatility | 30.00% | 36.00% | 37.00% |
Risk-free interest rate | 1.70% | 1.70% | 2.20% |
Expected option life in years | 7 years | 7 years | 7 years |
Weighted-average fair value per share | $ 17.45 | $ 25.96 | $ 34.20 |
Stock-based Compensation Plan73
Stock-based Compensation Plans - Options Outstanding and Option Exercisable (Detail) shares in Thousands | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Options Outstanding | shares | 46,502 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 6 years |
Options Outstanding, Weighted- Average Exercise Price | $ 78.31 |
Options Exercisable | shares | 27,345 |
Options Exercisable, Weighted-Average Exercise Price | $ 75.91 |
Exercise prices range $37.85 - $67.87 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise prices minimum range | 37.85 |
Exercise prices maximum range | $ 67.87 |
Options Outstanding | shares | 6,526 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 5 years 2 months 12 days |
Options Outstanding, Weighted- Average Exercise Price | $ 55.58 |
Options Exercisable | shares | 4,524 |
Options Exercisable, Weighted-Average Exercise Price | $ 52.78 |
Exercise prices range $68.51 - $72.00 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise prices minimum range | 68.51 |
Exercise prices maximum range | $ 72 |
Options Outstanding | shares | 7,501 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 5 years 3 months 18 days |
Options Outstanding, Weighted- Average Exercise Price | $ 70.08 |
Options Exercisable | shares | 5,761 |
Options Exercisable, Weighted-Average Exercise Price | $ 69.79 |
Exercise prices range $72.11 - $79.85 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise prices minimum range | 72.11 |
Exercise prices maximum range | $ 79.85 |
Options Outstanding | shares | 8,767 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 6 years 3 months 18 days |
Options Outstanding, Weighted- Average Exercise Price | $ 74.01 |
Options Exercisable | shares | 5,108 |
Options Exercisable, Weighted-Average Exercise Price | $ 72.82 |
Exercise prices range $80.53 - $84.93 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise prices minimum range | 80.53 |
Exercise prices maximum range | $ 84.93 |
Options Outstanding | shares | 12,375 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 5 years 10 months 24 days |
Options Outstanding, Weighted- Average Exercise Price | $ 82.72 |
Options Exercisable | shares | 7,093 |
Options Exercisable, Weighted-Average Exercise Price | $ 84.17 |
Exercise prices range $88.61 - $114.83 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise prices minimum range | 88.61 |
Exercise prices maximum range | $ 114.83 |
Options Outstanding | shares | 11,333 |
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) | 6 years 10 months 24 days |
Options Outstanding, Weighted- Average Exercise Price | $ 95.37 |
Options Exercisable | shares | 4,859 |
Options Exercisable, Weighted-Average Exercise Price | $ 95.89 |
Stock-based Compensation Plan74
Stock-based Compensation Plans - Summary of Stock Option Activity (Detail) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |||
Outstanding at beginning of year, Shares | 41,087 | 38,583 | 41,939 |
Granted, Shares | 7,672 | 7,118 | 6,105 |
Exercised, Shares | (3,357) | (2,561) | (8,269) |
Forfeited, Shares | (1,988) | (2,053) | (1,192) |
Outstanding at year-end, Shares | 46,502 | 41,087 | 38,583 |
Outstanding at beginning of year, Weighted-Average Exercise Price | $ 78.73 | $ 76.10 | $ 70.33 |
Granted, Weighted-Average Exercise Price | 76.14 | 86.86 | 99.04 |
Exercised, Weighted-Average Exercise Price | 60.70 | 60.10 | 64.19 |
Forfeited, Weighted-Average Exercise Price | 84.60 | 80.34 | 73.56 |
Outstanding at year-end, Weighted-Average Exercise Price | $ 78.31 | $ 78.73 | $ 76.10 |
Cameron | |||
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |||
Assumed in transaction, Shares | 3,088 | ||
Assumed in transaction, Weighted-Average Exercise Price | $ 63.24 |
Stock-based Compensation Plan75
Stock-based Compensation Plans - Restricted Stock Transactions (Detail) - Restricted Stock - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Unvested at beginning of year, Restricted Stock | 3,571 | 4,138 | 4,171 |
Granted, Restricted Stock | 1,678 | 1,254 | 1,341 |
Vested, Restricted Stock | (1,720) | (1,495) | (1,186) |
Forfeited, Restricted Stock | (241) | (326) | (188) |
Unvested at year-end, Restricted Stock | 5,112 | 3,571 | 4,138 |
Unvested at beginning of year, Weighted-Average Grant Date Fair Value | $ 85.04 | $ 80.80 | $ 76.01 |
Granted, Weighted-Average Grant Date Fair Value | 68.66 | 82.37 | 96.08 |
Vested, Weighted-Average Grant Date Fair Value | 72.64 | 71.30 | 81.59 |
Forfeited, Weighted-Average Grant Date Fair Value | 80.87 | 83.86 | 78.68 |
Unvested at year-end, Weighted-Average Grant Date Fair Value | $ 78.31 | $ 85.04 | $ 80.80 |
Cameron | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Assumed in transaction, Restricted Stock | 1,824 | ||
Assumed in transaction, Weighted-Average Grant Date Fair Value | $ 72.12 |
Stock-based Compensation Plan76
Stock-based Compensation Plans - Discounted Stock Purchase Plan Assumptions and Resulting Weighted Average Fair Value (Detail) - DSPP - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Dividend yield | 2.70% | 2.30% | 1.60% |
Expected volatility | 25.00% | 27.00% | 19.00% |
Risk-free interest rate | 0.50% | 0.20% | 0.10% |
Weighted-average fair value per share | $ 10.37 | $ 12.45 | $ 12.67 |
Stock-based Compensation Plan77
Stock-based Compensation Plans - Stock-Based Compensation Expense Recognized in Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 267 | $ 326 | $ 329 |
Stock Options | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expense | 175 | 176 | 177 |
Restricted Stock | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expense | 47 | 107 | 114 |
DSPP | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 45 | $ 43 | $ 38 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)Jurisdictions | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Income Tax Disclosure [Line Items] | |||
Minimum number of jurisdictions to Schlumberger operates | Jurisdictions | 100 | ||
US federal statutory rate | 35.00% | 35.00% | 35.00% |
Restructuring and other charges | $ 3,820 | $ 2,575 | $ 1,773 |
Deferred tax assets, valuation allowances relating to net operating losses in certain countries | 186 | 162 | |
Undistributed earnings of non-US subsidiaries | 3,000 | ||
Accrued interest and penalties | 178 | 176 | 243 |
Domestic Country | |||
Income Tax Disclosure [Line Items] | |||
Restructuring and other charges | 1,848 | 883 | 289 |
Foreign Country | |||
Income Tax Disclosure [Line Items] | |||
Restructuring and other charges | $ 1,972 | $ 1,692 | $ 1,484 |
Minimum | |||
Income Tax Disclosure [Line Items] | |||
US federal statutory rate | 0.00% | ||
Maximum | |||
Income Tax Disclosure [Line Items] | |||
US federal statutory rate | 40.00% |
Income Taxes - Income (Loss) fr
Income Taxes - Income (Loss) from Continuing Operations Before Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Income before taxes, United States | $ (3,103) | $ (691) | $ 1,990 |
Income before taxes, Outside United States | 1,198 | 3,572 | 5,649 |
Income (loss) from continuing operations before taxes | $ (1,905) | $ 2,881 | $ 7,639 |
Income Taxes - Components of Ne
Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Postretirement benefits | $ 253 | $ 266 |
Intangible assets | (2,869) | (1,418) |
Investments in non-US subsidiaries | (271) | (152) |
Fixed assets, net | (79) | (176) |
Inventories | 248 | 159 |
Other, net | 838 | 454 |
Net deferred tax assets (liabilities) | $ (1,880) | $ (867) |
Income Taxes - Components of In
Income Taxes - Components of Income (Loss) Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | |||
United States-Federal | $ (511) | $ 90 | $ 718 |
United States-State | (36) | 12 | 51 |
Outside United States | 648 | 1,085 | 1,380 |
Current Income Tax Expense (Benefit), Total | 101 | 1,187 | 2,149 |
Deferred: | |||
United States-Federal | (352) | (356) | (194) |
United States-State | (13) | (19) | (9) |
Outside United States | (51) | (52) | (12) |
Valuation allowance | 37 | (14) | (6) |
Deferred income taxes | (379) | (441) | (221) |
Consolidated taxes on (loss) income | $ (278) | $ 746 | $ 1,928 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of US Statutory Federal Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure Income Tax Reconciliation Of U S Statutory Federal Tax Rate Detail [Line Items] | |||
US federal statutory rate | 35.00% | 35.00% | 35.00% |
State tax | 2.00% | ||
Non-US income taxed at different rates | (21.00%) | (13.00%) | (11.00%) |
Other | (2.00%) | (2.00%) | |
Effective income tax rate | 15.00% | 26.00% | 25.00% |
Charges And Credits | |||
Disclosure Income Tax Reconciliation Of U S Statutory Federal Tax Rate Detail [Line Items] | |||
Charges and credits (See Note 3) | (1.00%) | 6.00% | 3.00% |
Income Taxes - Reconciliation83
Income Taxes - Reconciliation of Liabilities Associated with Uncertain Tax Provisions (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of year | $ 1,285 | $ 1,402 | $ 1,452 |
Additions based on tax positions related to the current year | 70 | 140 | 154 |
Additions for tax positions of prior years | 119 | 136 | 96 |
Additions related to acquisitions | 127 | 5 | 43 |
Impact of changes in exchange rates | (25) | (78) | (62) |
Settlements with tax authorities | (45) | (99) | (27) |
Reductions for tax positions of prior years | (85) | (203) | (212) |
Reductions due to the lapse of the applicable statute of limitations | (27) | (18) | (42) |
Balance at end of year | $ 1,419 | $ 1,285 | $ 1,402 |
Income Taxes - Tax Years Subjec
Income Taxes - Tax Years Subject to Examination by Tax Authorities (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Brazil | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,011 |
Brazil | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Canada | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,009 |
Canada | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Ecuador | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,013 |
Ecuador | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Mexico | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,010 |
Mexico | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Norway | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,013 |
Norway | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Russia | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,013 |
Russia | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Saudi Arabia | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,004 |
Saudi Arabia | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
United Kingdom | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,014 |
United Kingdom | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
United States | Earliest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,014 |
United States | Latest Tax Year | |
Income Tax Examination [Line Items] | |
Income tax examination, year(s) under examination | 2,016 |
Leases and Lease Commitments -
Leases and Lease Commitments - Additional Information (Detail) - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Leases [Abstract] | |||
Total rental expense | $ 1.2 | $ 1.6 | $ 2.1 |
Leases and Lease Commitments 86
Leases and Lease Commitments - Future Minimum Rental Commitments Under Noncancelable Operating Leases (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Leases [Abstract] | |
2,017 | $ 292 |
2,018 | 220 |
2,019 | 195 |
2,020 | 167 |
2,021 | 132 |
Thereafter | 471 |
Total | $ 1,477 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 27,810 | $ 35,475 | $ 48,580 | |
Income Before Taxes | (1,905) | 2,881 | 7,639 | |
Assets | 77,956 | 68,005 | 66,904 | |
Depreciation and Amortization | [1] | 4,094 | 4,078 | 4,094 |
Capital Expenditures | 2,055 | 2,410 | 3,976 | |
Pretax operating income | 3,273 | 6,510 | 10,576 | |
Interest expense | 570 | 346 | 369 | |
Charges & credits | 3,820 | 2,575 | 1,773 | |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 27,810 | 35,475 | 48,580 | |
Interest income | 26 | 22 | 20 | |
Interest expense | 53 | 30 | 22 | |
Operating Segments | Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 6,743 | 9,738 | 13,339 | |
Income Before Taxes | 1,228 | 2,465 | 3,770 | |
Assets | 6,913 | 8,338 | 9,324 | |
Depreciation and Amortization | 1,116 | 1,294 | 1,482 | |
Capital Expenditures | 531 | 661 | 1,234 | |
Operating Segments | Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 8,561 | 13,563 | 18,128 | |
Income Before Taxes | 994 | 2,538 | 3,805 | |
Assets | 6,741 | 8,549 | 11,155 | |
Depreciation and Amortization | 904 | 1,177 | 1,173 | |
Capital Expenditures | 418 | 672 | 1,328 | |
Operating Segments | Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 8,709 | 12,311 | 17,329 | |
Income Before Taxes | 528 | 1,570 | 3,130 | |
Assets | 10,453 | 9,866 | 11,348 | |
Depreciation and Amortization | 1,222 | 1,201 | 1,043 | |
Capital Expenditures | 647 | 812 | 1,165 | |
Operating Segments | Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 4,211 | |||
Income Before Taxes | 653 | |||
Assets | 4,246 | |||
Depreciation and Amortization | 211 | |||
Capital Expenditures | 176 | |||
Eliminations & other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (414) | (137) | (216) | |
Income Before Taxes | (130) | (63) | (129) | |
Assets | 1,611 | 2,052 | 1,572 | |
Depreciation and Amortization | 257 | 213 | 198 | |
Capital Expenditures | 283 | 265 | 249 | |
Material Reconciling Items | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and Amortization | [2] | 384 | 193 | 198 |
Goodwill and intangible assets | 34,845 | 20,174 | 20,141 | |
All other assets | 2,408 | 2,262 | 2,186 | |
Corporate & other | [2] | (925) | (768) | (848) |
Corporate & other | [2] | 10,739 | 16,764 | 11,178 |
Interest income | [3] | 84 | 30 | 31 |
Interest expense | [4] | (517) | (316) | (347) |
Charges & credits | [5] | $ (3,820) | $ (2,575) | $ (1,773) |
[1] | Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments. | |||
[2] | Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets (including intangible asset amortization expense resulting from the 2016 acquisition of Cameron), certain centrally managed initiatives and other nonoperating items. | |||
[3] | Interest income excludes amounts which are included in the segments’ income (2016: $26 million; 2015: $22 million; 2014: $20 million). | |||
[4] | Interest expense excludes amounts which are included in the segments’ income (2016: $53 million; 2015: $30 million; 2014: $22 million). | |||
[5] | See Note 3 – Charges and Credits. |
Segment Information - Schedul88
Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Interest expense | $ 570 | $ 346 | $ 369 |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Interest income | 26 | 22 | 20 |
Interest expense | $ 53 | $ 30 | $ 22 |
Segment Information - Revenue b
Segment Information - Revenue by Geographic Area (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 27,810 | $ 35,475 | $ 48,580 |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenue | 27,810 | 35,475 | 48,580 |
Operating Segments | North America | |||
Segment Reporting Information [Line Items] | |||
Revenue | 6,665 | 9,811 | 16,151 |
Operating Segments | Latin America | |||
Segment Reporting Information [Line Items] | |||
Revenue | 4,230 | 6,014 | 7,699 |
Operating Segments | Europe/CIS/Africa | |||
Segment Reporting Information [Line Items] | |||
Revenue | 7,351 | 9,284 | 12,515 |
Operating Segments | Middle East & Asia | |||
Segment Reporting Information [Line Items] | |||
Revenue | 9,286 | 9,898 | 11,875 |
Eliminations & other | |||
Segment Reporting Information [Line Items] | |||
Revenue | $ 278 | $ 468 | $ 340 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 27,810 | $ 35,475 | $ 48,580 |
United States | |||
Segment Reporting Information [Line Items] | |||
Revenue | $ 5,400 | $ 8,500 | $ 14,000 |
Segment Information - Fixed Ass
Segment Information - Fixed Assets Less Accumulated Depreciation by Geographic Area (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | ||||
Fixed Assets less accumulated depreciation | $ 12,821 | $ 13,415 | $ 15,396 | |
Operating Segments | North America | ||||
Segment Reporting Information [Line Items] | ||||
Fixed Assets | 4,428 | 4,392 | 4,885 | |
Operating Segments | Latin America | ||||
Segment Reporting Information [Line Items] | ||||
Fixed Assets | 1,460 | 1,728 | 1,969 | |
Operating Segments | Europe | ||||
Segment Reporting Information [Line Items] | ||||
Fixed Assets | 2,706 | 2,978 | 3,640 | |
Operating Segments | Middle East & Asia | ||||
Segment Reporting Information [Line Items] | ||||
Fixed Assets | 3,149 | 3,078 | 3,446 | |
Unallocated | ||||
Segment Reporting Information [Line Items] | ||||
Fixed Assets | [1] | $ 1,078 | $ 1,239 | $ 1,456 |
[1] | Represents seismic vessels, including the related on-board equipment, which frequently transition between geographic areas. |
Pension and Other Benefit Pla92
Pension and Other Benefit Plans - Weighted-Average Assumed Discount Rate, Compensation Increases and Expected Long-Term Rate of Return on Plan Assets Used to Determine Net Pension Cost for US and International Plans (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.20% | 4.50% | |
US Plan Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.50% | 4.15% | 4.85% |
Compensation increases | 4.00% | 4.00% | 4.00% |
Return on plan assets | 7.25% | 7.25% | 7.25% |
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.36% | 4.07% | 4.76% |
Compensation increases | 4.80% | 4.79% | 4.80% |
Return on plan assets | 7.40% | 7.40% | 7.50% |
Pension and Other Benefit Pla93
Pension and Other Benefit Plans - Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
US Plan Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | $ 62 | $ 86 | $ 72 |
Interest cost on projected benefit obligation | 177 | 170 | 164 |
Expected return on plan assets | (235) | (229) | (208) |
Amortization of prior service cost | 12 | 12 | 12 |
Amortization of net loss | 79 | 123 | 82 |
Total pension cost | 95 | 162 | 122 |
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 110 | 167 | 126 |
Interest cost on projected benefit obligation | 311 | 297 | 288 |
Expected return on plan assets | (517) | (498) | (450) |
Amortization of prior service cost | 122 | 121 | 120 |
Amortization of net loss | 78 | 170 | 94 |
Total pension cost | 104 | 257 | 178 |
Postretirement medical plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 30 | 42 | 43 |
Interest cost on projected benefit obligation | 47 | 48 | 60 |
Expected return on plan assets | (57) | (52) | (45) |
Amortization of prior service cost | (32) | (32) | (4) |
Amortization of net loss | 13 | 1 | |
Total pension cost | $ (12) | $ 19 | $ 55 |
Pension and Other Benefit Pla94
Pension and Other Benefit Plans - Weighted-Average Assumed Discount Rate and Compensation Increases Used to Determine Projected Benefit Obligations for US and International Plans (Detail) | Dec. 31, 2016 | Dec. 31, 2015 |
US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Discount rate | 4.20% | 4.50% |
Compensation increases | 4.00% | 4.00% |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Discount rate | 4.13% | 4.36% |
Compensation increases | 4.81% | 4.80% |
Pension and Other Benefit Pla95
Pension and Other Benefit Plans - Changes in Projected Benefit Obligation, Plan Assets and Funded Status of Plans (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amounts Recognized in Balance Sheet | |||
Postretirement Benefits | $ (1,495) | $ (1,434) | |
US Plan Assets | |||
Change in Projected Benefit Obligations | |||
Projected benefit obligation at beginning of year | 4,025 | 4,137 | |
Service cost | 62 | 86 | $ 72 |
Interest cost | 177 | 170 | 164 |
Actuarial (gains) losses | 137 | (205) | |
Benefits paid | (183) | (163) | |
Other | 22 | ||
Projected benefit obligation at end of year | 4,240 | 4,025 | 4,137 |
Change in Plan Assets | |||
Plan assets at fair value at beginning of year | 3,467 | 3,549 | |
Actual return on plan assets | 320 | (1) | |
Company contributions | 4 | 82 | |
Benefits paid | (183) | (163) | |
Other | 17 | ||
Plan assets at fair value at end of year | 3,625 | 3,467 | 3,549 |
Unfunded Liability | (615) | (558) | |
Amounts Recognized in Balance Sheet | |||
Postretirement Benefits | (615) | (558) | |
Total of post retirement benefits | (615) | (558) | |
Amounts Recognized in Accumulated Other Comprehensive Loss | |||
Actuarial losses | 982 | 1,008 | |
Prior service cost | 42 | 54 | |
Total amount recognized in accumulated other comprehensive income | 1,024 | 1,062 | |
Accumulated benefit obligation | 3,999 | 3,763 | |
International | |||
Change in Projected Benefit Obligations | |||
Projected benefit obligation at beginning of year | 7,340 | 7,249 | |
Service cost | 110 | 167 | 126 |
Interest cost | 311 | 297 | 288 |
Contribution by plan participants | 117 | 143 | |
Actuarial (gains) losses | 477 | (203) | |
Currency effect | (290) | (66) | |
Benefits paid | (272) | (247) | |
Projected benefit obligation at end of year | 7,793 | 7,340 | 7,249 |
Change in Plan Assets | |||
Plan assets at fair value at beginning of year | 6,832 | 6,830 | |
Actual return on plan assets | 715 | (5) | |
Currency effect | (318) | (69) | |
Company contributions | 130 | 198 | |
Contributions by plan participants | 107 | 125 | |
Benefits paid | (272) | (247) | |
Plan assets at fair value at end of year | 7,194 | 6,832 | $ 6,830 |
Unfunded Liability | (599) | (508) | |
Amounts Recognized in Balance Sheet | |||
Postretirement Benefits | (724) | (657) | |
Other Assets | 125 | 149 | |
Total of post retirement benefits | (599) | (508) | |
Amounts Recognized in Accumulated Other Comprehensive Loss | |||
Actuarial losses | 1,644 | 1,474 | |
Prior service cost | 114 | 235 | |
Total amount recognized in accumulated other comprehensive income | 1,758 | 1,709 | |
Accumulated benefit obligation | $ 7,454 | $ 6,913 |
Pension and Other Benefit Pla96
Pension and Other Benefit Plans - Weighted-Average Allocation of Plan Assets and Target Allocation by Asset Category (Detail) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation of assets | 100.00% | 100.00% |
Target Allocation Percentage of Assets, Total | 100.00% | 100.00% |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation of assets | 100.00% | 100.00% |
Target Allocation Percentage of Assets, Total | 100.00% | 100.00% |
Equity securities | US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 56.00% | |
Target Allocation Percentage of Assets, Range Minimum | 37.00% | |
Target allocation of assets | 52.00% | 52.00% |
Equity securities | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 71.00% | |
Target Allocation Percentage of Assets, Range Minimum | 45.00% | |
Target allocation of assets | 64.00% | 64.00% |
Debt securities | US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 62.00% | |
Target Allocation Percentage of Assets, Range Minimum | 35.00% | |
Target allocation of assets | 37.00% | 36.00% |
Debt securities | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 35.00% | |
Target Allocation Percentage of Assets, Range Minimum | 20.00% | |
Target allocation of assets | 25.00% | 27.00% |
Cash and cash equivalents | US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 3.00% | |
Target Allocation Percentage of Assets, Range Minimum | 0.00% | |
Target allocation of assets | 2.00% | 2.00% |
Cash and cash equivalents | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 5.00% | |
Target Allocation Percentage of Assets, Range Minimum | 0.00% | |
Target allocation of assets | 2.00% | 2.00% |
Alternative investments | US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 10.00% | |
Target Allocation Percentage of Assets, Range Minimum | 0.00% | |
Target allocation of assets | 9.00% | 10.00% |
Alternative investments | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Percentage of Assets, Range Maximum | 25.00% | |
Target Allocation Percentage of Assets, Range Minimum | 0.00% | |
Target allocation of assets | 9.00% | 7.00% |
Pension and Other Benefit Pla97
Pension and Other Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Frequency of asset performance monitored, years | 5 years | ||
Expected contributions to postretirement benefit plans | $ 200 | ||
Expenses for deferred benefit programs | $ 445 | $ 565 | $ 749 |
US Employees Postretirement Benefits Other Than Pensions | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Retirement coverage plan, description | Effective April 1, 2015, Schlumberger changed the way it provides healthcare coverage to certain retirees who are age 65 and over. Under the amended plan, these retirees transferred to individual coverage under the Medicare Exchange. Schlumberger subsidizes the cost of the program by providing these retirees with a Health Reimbursement Account. The annual subsidy may be increased based on medical cost inflation, but it will not be increased by more than 5% in any given year. | ||
US Employees Postretirement Benefits Other Than Pensions | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Compensation increases | 5.00% | ||
Postretirement medical plan | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investment of assets in government and government-related debt securities under US postretirement medical plan | 37.00% | ||
Postretirement medical plan | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investment of assets in government and government-related debt securities under US postretirement medical plan | 63.00% |
Pension and Other Benefit Pla98
Pension and Other Benefit Plans - Fair Value of Schlumberger's Pension Plan Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
US Plan Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 3,625 | $ 3,467 | $ 3,549 |
US Plan Assets | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 60 | 86 | |
US Plan Assets | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 662 | 605 | |
US Plan Assets | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 625 | 599 | |
US Plan Assets | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 643 | 589 | |
US Plan Assets | Collateralized mortgage obligations and mortgage backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 92 | 65 | |
US Plan Assets | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 191 | 203 | |
US Plan Assets | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 142 | 125 | |
US Plan Assets | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,210 | 1,195 | |
US Plan Assets | Level One | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,877 | 1,327 | |
US Plan Assets | Level One | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 15 | 40 | |
US Plan Assets | Level One | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 649 | 473 | |
US Plan Assets | Level One | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 164 | 159 | |
US Plan Assets | Level One | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,049 | 655 | |
US Plan Assets | Level Two | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,415 | 1,812 | |
US Plan Assets | Level Two | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 45 | 46 | |
US Plan Assets | Level Two | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 13 | 132 | |
US Plan Assets | Level Two | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 625 | 599 | |
US Plan Assets | Level Two | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 479 | 430 | |
US Plan Assets | Level Two | Collateralized mortgage obligations and mortgage backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 92 | 65 | |
US Plan Assets | Level Two | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 161 | 540 | |
US Plan Assets | Level Three | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 333 | 328 | |
US Plan Assets | Level Three | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 191 | 203 | |
US Plan Assets | Level Three | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 142 | 125 | |
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 7,194 | 6,832 | $ 6,830 |
International | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 184 | 138 | |
International | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,726 | 1,639 | |
International | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 685 | 657 | |
International | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,001 | 1,036 | |
International | Collateralized mortgage obligations and mortgage backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 130 | 143 | |
International | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 385 | 331 | |
International | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 106 | 49 | |
International | Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 123 | 103 | |
International | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 2,854 | 2,736 | |
International | Level One | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 3,944 | 3,542 | |
International | Level One | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 135 | 115 | |
International | Level One | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,475 | 1,179 | |
International | Level One | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 10 | 8 | |
International | Level One | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 2,324 | 2,240 | |
International | Level Two | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 2,636 | 2,807 | |
International | Level Two | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 49 | 23 | |
International | Level Two | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 251 | 460 | |
International | Level Two | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 685 | 657 | |
International | Level Two | Government and government-related debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 991 | 1,028 | |
International | Level Two | Collateralized mortgage obligations and mortgage backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 130 | 143 | |
International | Level Two | United States | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 530 | 496 | |
International | Level Three | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 614 | 483 | |
International | Level Three | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 385 | 331 | |
International | Level Three | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 106 | 49 | |
International | Level Three | Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 123 | $ 103 |
Pension and Other Benefit Pla99
Pension and Other Benefit Plans - Defined Benefit Plan Weighted Average Assumptions Used in Calculating Benefit Obligation and Net Periodic Benefit Cost For US Postretirement Medical Plan (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.20% | 4.50% | |
Current medical cost trend rate | 7.25% | 7.50% | |
Ultimate medical cost trend rate | 5.00% | 5.00% | |
Year that the rate reaches the ultimate trend rate | 2,026 | 2,023 | |
Postretirement medical plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.50% | 4.15% | 4.85% |
Return on plan assets | 7.00% | 7.00% | 7.00% |
Current medical cost trend rate | 7.50% | 7.00% | 7.25% |
Ultimate medical cost trend rate | 5.00% | 5.00% | 5.00% |
Year that the rate reaches the ultimate trend rate | 2,026 | 2,023 | 2,023 |
Pension and Other Benefit Pl100
Pension and Other Benefit Plans - Changes in Accumulated Postretirement Benefit Obligation, Plan Assets and Funded Status (Detail) - Postretirement medical plan - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Change in Projected Benefit Obligations | ||
Projected benefit obligation at beginning of year | $ 1,103 | $ 1,221 |
Service cost | 30 | 42 |
Interest cost | 47 | 48 |
Contribution by plan participants | 8 | 7 |
Actuarial gains | (32) | (168) |
Benefits paid | (48) | (47) |
Projected benefit obligation at end of year | 1,108 | 1,103 |
Change in Plan Assets | ||
Plan assets at fair value at beginning of year | 884 | 854 |
Actual return on plan assets | 68 | 4 |
Company contributions | 40 | 66 |
Contribution by plan participants | 8 | 7 |
Benefits paid | (48) | (47) |
Plan assets at fair value at end of year | 952 | 884 |
Unfunded Liability | (156) | (219) |
Amounts Recognized in Accumulated Other Comprehensive Loss | ||
Actuarial losses | 62 | 106 |
Prior service credit | (243) | (275) |
Total amount recognized in accumulated other comprehensive income | $ (181) | $ (169) |
Pension and Other Benefit Pl101
Pension and Other Benefit Plans - Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates (Detail) - Postretirement medical plan $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest cost components, One Percentage Point Increase | $ 3 |
Effect on accumulated postretirement benefit obligation, One Percentage Point Increase | 34 |
Effect on total service and interest cost components, One Percentage Point Decrease | (3) |
Effect on accumulated postretirement benefit obligation, One Percentage Point Decrease | $ (30) |
Pension and Other Benefit Pl102
Pension and Other Benefit Plans - Expected Benefits to be Paid Under US and International Pension Plans and Postretirement Medical Plan (Detail) $ in Millions | Dec. 31, 2016USD ($) |
US Plan Assets | |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | $ 189 |
2,018 | 195 |
2,019 | 201 |
2,020 | 208 |
2,021 | 215 |
2022-2026 | 1,188 |
International | |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | 258 |
2,018 | 273 |
2,019 | 286 |
2,020 | 300 |
2,021 | 313 |
2022-2026 | 1,784 |
Postretirement medical plan | |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | 52 |
2,018 | 54 |
2,019 | 55 |
2,020 | 59 |
2,021 | 60 |
2022-2026 | $ 325 |
Pension and Other Benefit Pl103
Pension and Other Benefit Plans - Defined Benefit Plan, Amounts That Will be Amortized from Accumulated Other Comprehensive Income (loss) in Next Fiscal Year (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Pension Plans | |
Pension Plans Postretirement And Other Employee Benefits [Line Items] | |
Net actuarial losses | $ 157 |
Prior service cost (credit) | 109 |
Postretirement medical plan | |
Pension Plans Postretirement And Other Employee Benefits [Line Items] | |
Prior service cost (credit) | $ (29) |
Supplementary Information - Cas
Supplementary Information - Cash Paid for Interest and Income Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting [Abstract] | |||
Interest | $ 599 | $ 346 | $ 389 |
Income tax | $ 750 | $ 1,567 | $ 2,048 |
Supplementary Information - Add
Supplementary Information - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting [Abstract] | ||
Fixed assets receivable in lieu of accounts receivable | $ 200 | |
Revenue in excess of billings | $ 500 |
Supplementary Information - Int
Supplementary Information - Interest and Other Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting [Abstract] | |||
Interest income | $ 110 | $ 52 | $ 51 |
Earnings of equity method investments | 90 | 184 | 240 |
Interest and other income, net | $ 200 | $ 236 | $ 291 |
Supplementary Information - Cha
Supplementary Information - Change in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting [Abstract] | |||
Balance at beginning of year | $ 333 | $ 275 | $ 384 |
Additions | 123 | 75 | 39 |
Amounts written off | (59) | (17) | (148) |
Balance at end of year | $ 397 | $ 333 | $ 275 |
Supplementary Information - Acc
Supplementary Information - Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting [Abstract] | ||
Payroll, vacation and employee benefits | $ 1,349 | $ 1,424 |
Trade | 4,004 | 3,243 |
Deferred revenue | 1,088 | 406 |
Other | 3,575 | 2,654 |
Accounts payable and accrued liabilities | $ 10,016 | $ 7,727 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2014USD ($) | Dec. 31, 2015Conspiracy | Dec. 31, 2014USD ($) | Jun. 30, 2015USD ($) | |
Discontinued Operations And Disposal Groups [Abstract] | ||||
Loss from discontinued operations | $ 205 | $ 205 | ||
Number of resolved criminal counts of conspiracy to violate International Emergency Powers Act | Conspiracy | 1 | |||
Amount of fines, penalties and assessments | $ 233 |