Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2017shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q1 |
Trading Symbol | SLB |
Entity Registrant Name | SCHLUMBERGER LIMITED/NV |
Entity Central Index Key | 87,347 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,389,476,854 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | ||
Services | $ 4,937 | $ 5,763 |
Product sales | 1,957 | 757 |
Total Revenue | 6,894 | 6,520 |
Interest & other income | 46 | 45 |
Expenses | ||
Cost of services | 4,251 | 4,795 |
Cost of sales | 1,825 | 665 |
Research & engineering | 211 | 240 |
General & administrative | 98 | 110 |
Merger & integration | 82 | |
Interest | 139 | 133 |
Income before taxes | 334 | 622 |
Taxes on income | 50 | 99 |
Net income | 284 | 523 |
Net income attributable to noncontrolling interests | 5 | 22 |
Net income attributable to Schlumberger | $ 279 | $ 501 |
Basic earnings per share of Schlumberger | $ 0.20 | $ 0.40 |
Diluted earnings per share of Schlumberger | $ 0.20 | $ 0.40 |
Average shares outstanding: | ||
Basic | 1,393 | 1,254 |
Assuming dilution | 1,402 | 1,259 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $ 284 | $ 523 |
Currency translation adjustments | ||
Unrealized net change arising during the period | 45 | 17 |
Marketable securities | ||
Unrealized gain (loss) arising during the period | (4) | 3 |
Cash flow hedges | ||
Net loss on cash flow hedges | 11 | (85) |
Reclassification to net income of net realized loss | 94 | |
Actuarial loss | ||
Amortization to net income of net actuarial loss | 43 | 45 |
Prior service cost | ||
Amortization to net income of net prior service cost | 20 | 25 |
Income taxes on pension and other postretirement benefit plans | (1) | (7) |
Comprehensive income | 398 | 615 |
Comprehensive income attributable to noncontrolling interests | 5 | 22 |
Comprehensive income attributable to Schlumberger | $ 393 | $ 593 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash | $ 1,902 | $ 2,929 |
Short-term investments | 5,451 | 6,328 |
Receivables less allowance for doubtful accounts (2017 - $356; 2016 - $397) | 8,636 | 9,387 |
Inventories | 4,288 | 4,225 |
Other current assets | 1,606 | 1,058 |
Current assets total | 21,883 | 23,927 |
Fixed Income Investments, held to maturity | 238 | 238 |
Investments in Affiliated Companies | 1,482 | 1,243 |
Fixed Assets less accumulated depreciation | 12,507 | 12,821 |
Multiclient Seismic Data | 1,089 | 1,073 |
Goodwill | 25,045 | 24,990 |
Intangible Assets | 9,743 | 9,855 |
Other Assets | 4,188 | 3,809 |
Total Assets | 76,175 | 77,956 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 9,408 | 10,016 |
Estimated liability for taxes on income | 1,215 | 1,188 |
Short-term borrowings and current portion of long-term debt | 2,449 | 3,153 |
Dividends payable | 704 | 702 |
Current Liabilities Total | 13,776 | 15,059 |
Long-term Debt | 16,538 | 16,463 |
Postretirement Benefits | 1,457 | 1,495 |
Deferred Taxes | 1,908 | 1,880 |
Other Liabilities | 1,442 | 1,530 |
Total Liabilities | 35,121 | 36,427 |
Equity | ||
Common stock | 12,780 | 12,801 |
Treasury stock | (3,697) | (3,550) |
Retained earnings | 36,052 | 36,470 |
Accumulated other comprehensive loss | (4,529) | (4,643) |
Schlumberger stockholders' equity | 40,606 | 41,078 |
Noncontrolling interests | 448 | 451 |
Total equity | 41,054 | 41,529 |
Liabilities and stockholders equity | $ 76,175 | $ 77,956 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts on receivable | $ 356 | $ 397 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Cash flows from operating activities: | |||
Net income | $ 284 | $ 523 | |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Merger & integration charges | 82 | ||
Depreciation and amortization | [1] | 989 | 967 |
Pension and other postretirement benefits expense | 37 | 60 | |
Stock-based compensation expense | 88 | 61 | |
Pension and other postretirement benefits funding | (29) | (45) | |
Earnings of equity method investments, less dividends received | (10) | (25) | |
Change in assets and liabilities: | |||
Decrease in receivables | [2] | 58 | 414 |
(Increase) decrease in inventories | [2] | (33) | 125 |
(Increase) decrease in other current assets | [2] | (115) | 85 |
(Increase) decrease in other assets | [2] | (56) | 5 |
Decrease in accounts payable and accrued liabilities | [2] | (670) | (983) |
Decrease in estimated liability for taxes on income | [2] | (31) | (104) |
(Decrease) increase in other liabilities | [2] | (28) | 2 |
Other | [2] | 90 | 125 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 656 | 1,210 | |
Cash flows from investing activities: | |||
Capital expenditures | (381) | (549) | |
SPM investments | (144) | (597) | |
Multiclient seismic data costs capitalized | (116) | (167) | |
Business acquisitions and investments, net of cash acquired | (273) | (81) | |
Sale (purchase) of investments, net | 883 | (2,093) | |
Other | (24) | (26) | |
NET CASH USED IN INVESTING ACTIVITIES | (55) | (3,513) | |
Cash flows from financing activities: | |||
Dividends paid | (696) | (629) | |
Proceeds from employee stock purchase plan | 96 | 116 | |
Proceeds from exercise of stock options | 39 | 47 | |
Stock repurchase program | (372) | (475) | |
Proceeds from issuance of long-term debt | 334 | 3,542 | |
Repayment of long-term debt | (1) | (500) | |
Net decrease in short-term borrowings | (1,015) | (561) | |
Other | (22) | 47 | |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (1,637) | 1,587 | |
Net decrease in cash before translation effect | (1,036) | (716) | |
Translation effect on cash | 9 | 3 | |
Cash, beginning of period | 2,929 | 2,793 | |
Cash, end of period | $ 1,902 | $ 2,080 | |
[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. |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Common Stock Issued | Common Stock In Treasury | Retained Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interests |
Balance at Dec. 31, 2015 | $ 35,905 | $ 12,693 | $ (13,372) | $ 40,870 | $ (4,558) | $ 272 |
Net income | 523 | 501 | 22 | |||
Currency translation adjustments | 17 | 17 | ||||
Changes in unrealized gain on marketable securities | 3 | 3 | ||||
Changes in fair value of cash flow hedges | 9 | 9 | ||||
Pension and other postretirement benefit plans | 63 | 63 | ||||
Shares sold to optionees, less shares exchanged | 47 | (17) | 64 | |||
Vesting of restricted stock | (28) | 28 | ||||
Shares issued under employee stock purchase plan | 116 | (19) | 135 | |||
Stock repurchase program | (475) | (475) | ||||
Stock-based compensation expense | 61 | 61 | ||||
Dividends declared | (626) | (626) | ||||
Other | 19 | 10 | 9 | |||
Balance at Mar. 31, 2016 | 35,662 | 12,700 | (13,620) | 40,745 | (4,466) | 303 |
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) | |||||
Net income | $ 284 | 279 | 5 | |||
Currency translation adjustments | 45 | 45 | ||||
Changes in unrealized gain on marketable securities | (4) | (4) | ||||
Changes in fair value of cash flow hedges | 11 | 11 | ||||
Pension and other postretirement benefit plans | 62 | 62 | ||||
Shares sold to optionees, less shares exchanged | $ 39 | $ (29) | $ 68 | |||
Shares sold to optionees, less shares exchanged, shares | 1 | 1 | ||||
Vesting of restricted stock | (49) | $ 49 | ||||
Vesting of restricted stock, shares | 1 | 1 | ||||
Shares issued under employee stock purchase plan | $ 96 | (12) | $ 108 | |||
Shares issued under employee stock purchase plan, shares | 1 | 1 | ||||
Stock repurchase program | $ (372) | $ (372) | ||||
Stock repurchase program, shares | (5) | (5) | ||||
Stock-based compensation expense | $ 88 | 88 | ||||
Dividends declared | (697) | (697) | ||||
Other | (27) | (19) | (8) | |||
Balance at Mar. 31, 2017 | $ 41,054 | $ 12,780 | $ (3,697) | $ 36,052 | $ (4,529) | $ 448 |
Balance, shares at Mar. 31, 2017 | 1,389 | 1,434 | ||||
Treasury shares, Balance at Mar. 31, 2017 | (45) |
CONSOLIDATED STATEMENT OF EQUI8
CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) (Unaudited) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Retained Earnings | ||
Dividends declared, per share | $ 0.50 | $ 0.50 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | 1. Basis of Presentation The accompanying unaudited consolidated financial statements of Schlumberger Limited and its subsidiaries (Schlumberger) have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of Schlumberger management, all adjustments considered necessary for a fair statement have been included in the accompanying unaudited financial statements. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the three-month period ended March 31, 2017 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2017. The December 31, 2016 balance sheet information has been derived from the Schlumberger 2016 audited financial statements. For further information, refer to the Consolidated Financial Statements New 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 |
Charges and Credits
Charges and Credits | 3 Months Ended |
Mar. 31, 2017 | |
Restructuring And Related Activities [Abstract] | |
Charges and Credits | 2. Charges and Credits In connection with Schlumberger’s acquisition of Cameron (See Note 4 – Acquisition of Cameron Merger & integration Consolidated Statement of Income There were no charges or credits recorded during the first quarter of 2016. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 3. Earnings Per Share The following is a reconciliation from basic earnings per share of Schlumberger to diluted earnings per share of Schlumberger: (Stated in millions, except per share amounts) 2017 2016 Schlumberger Net Income Average Shares Outstanding Earnings per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share First Quarter Basic $ 279 1,393 $ 0.20 $ 501 1,254 $ 0.40 Assumed exercise of stock options - 4 - 1 Unvested restricted stock - 5 - 4 Diluted $ 279 1,402 $ 0.20 $ 501 1,259 $ 0.40 The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) 2017 2016 First Quarter 23 32 |
Acquisition of Cameron
Acquisition of Cameron | 3 Months Ended |
Mar. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisition of Cameron | 4. Acquisition of 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. Schlumberger issued approximately 138 million shares of its common stock, which were valued at $9.9 billion at the time of closing, and paid cash of $2.8 billion. Prior to being acquired by Schlumberger, Cameron reported revenue of approximately $1.6 billion during the first quarter of 2016. |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2017 | |
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) Mar. 31, Dec. 31, 2017 2016 Raw materials & field materials $ 1,633 $ 1,720 Work in progress 597 610 Finished goods 2,058 1,895 $ 4,288 $ 4,225 |
Fixed Assets
Fixed Assets | 3 Months Ended |
Mar. 31, 2017 | |
Property Plant And Equipment [Abstract] | |
Fixed Assets | 6. Fixed Assets A summary of fixed assets follows: (Stated in millions) Mar. 31, Dec. 31, 2017 2016 Property, plant & equipment $ 39,857 $ 40,008 Less: Accumulated depreciation 27,350 27,187 $ 12,507 $ 12,821 Depreciation expense relating to fixed assets was $613 million and $682 million in the first quarter of 2017 and 2016, respectively. |
Multiclient Seismic Data
Multiclient Seismic Data | 3 Months Ended |
Mar. 31, 2017 | |
Multiclient Seismic Data [Abstract] | |
Multiclient Seismic Data | 7. Multiclient Seismic Data The change in the carrying amount of multiclient seismic data for the three months ended March 31, 2017 was as follows: (Stated in millions) Balance at December 31, 2016 $ 1,073 Capitalized in period 116 Charged to expense (100 ) Balance at March 31, 2017 $ 1,089 |
Intangible Assets
Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 8. Intangible Assets The gross book value, accumulated amortization and net book value of intangible assets were as follows: (Stated in millions) Mar. 31, 2017 Dec. 31, 2016 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 4,960 $ 927 $ 4,033 $ 4,938 $ 865 $ 4,073 Technology/technical know-how 3,655 896 2,759 3,655 835 2,820 Tradenames 2,847 484 2,363 2,847 458 2,389 Other 1,166 578 588 1,122 549 573 $ 12,628 $ 2,885 $ 9,743 $ 12,562 $ 2,707 $ 9,855 Amortization expense charged to income was $169 million during the first quarter of 2017 and $89 million during the first quarter of 2016. Based on the net book value of intangible assets at March 31, 2017, amortization charged to income for the subsequent five years is estimated to be: remaining three quarters of 2017—$526 million; 2018—$668 million; 2019—$627 million; 2020—$599 million; 2021—$576 million; and 2022—$571 million. |
Long-term Debt
Long-term Debt | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Long-term Debt | 9. Long-term Debt A summary of Long-term Debt (Stated in millions) Mar. 31, Dec. 31, 2017 2016 4.00% Senior Notes due 2025 $ 1,740 $ 1,740 3.30% Senior Notes due 2021 1,594 1,594 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,491 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 996 996 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 645 622 1.50% Guaranteed Notes due 2019 551 536 6.38% Notes due 2018 294 297 7.00% Notes due 2038 214 214 4.50% Notes due 2021 137 137 5.95% Notes due 2041 116 116 3.60% Notes due 2022 110 110 5.13% Notes due 2043 99 99 4.00% Notes due 2023 82 83 3.70% Notes due 2024 56 56 Commercial paper borrowings 2,503 2,421 Other 1,077 1,118 $ 16,538 $ 16,463 The estimated fair value of Schlumberger’s Long-term Debt, Borrowings under the commercial paper program at March 31, 2017 were $2.9 billion, of which $2.5 billion was classified within Long-term Debt Short-term borrowings and current portion of long-term debt Consolidated Balance Sheet Long-term debt Short-term borrowings and current portion of long-term debt Consolidated Balance Sheet |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 10. Derivative Instruments and Hedging Activities Schlumberger is exposed to market risks related to fluctuations in foreign currency exchange rates and interest 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 March 31, 2017, Schlumberger had fixed rate debt of $14.2 billion and variable rate debt of $4.8 billion after taking into account the effect of the swap. Short-term investments and , totaled $5.7 billion at March 31, 2017. 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. 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 March 31, 2017, Schlumberger recognized a cumulative net loss of $8 million 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 and foreign currency options 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 is recorded on the Consolidated Balance Sheet, Consolidated Statement of Income At March 31, 2017, contracts were outstanding for the US dollar equivalent of $3.8 billion in various foreign currencies, of which $0.7 billion related to hedges of debt denominated in currencies other than the functional currency. The fair values of outstanding derivative instruments were as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification Mar. 31, Dec. 31, 2017 2016 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 2 $ 1 Other current assets Derivatives not designated as hedges: Foreign exchange contracts $ 35 $ 42 Other current assets $ 37 $ 43 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 7 $ 18 Accounts payable and accrued liabilities Cross currency swap 37 49 Other Liabilities $ 44 $ 67 Derivatives not designated as hedges: Foreign exchange contracts $ 21 $ 59 Accounts payable and accrued liabilities $ 65 $ 126 The fair value of all outstanding derivatives was determined using a model with inputs that are observable in the market or that 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 First Quarter 2017 2016 Consolidated of Income Classification Derivatives designated as fair value hedges: Cross currency swap $ 18 $ 10 Interest Derivatives not designated as hedges: Foreign exchange contracts $ 6 $ (81 ) Cost of services/sales |
Contingencies
Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies | 11. 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 | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | 12. Segment Information (Stated in millions) First Quarter 2017 First Quarter 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,618 $ 281 $ 1,719 $ 334 Drilling 1,985 229 2,493 371 Production 2,187 110 2,376 206 Cameron 1,229 162 - - Eliminations & other (125 ) (25 ) (68 ) (10 ) Pretax operating income 757 901 Corporate & other (1) (239 ) (172 ) Interest income (2) 24 13 Interest expense (3) (126 ) (120 ) Charges and credits (4) (82 ) - $ 6,894 $ 334 $ 6,520 $ 622 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. The first quarter of 2017 includes $63 million of intangible asset amortization expense resulting from the April 2016 acquisition of Cameron. (2 ) Interest income excludes amounts which are included in the segments’ income ($5 million in 2017; $6 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($13 million in 2017; $13 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. |
Pension and Other Postretiremen
Pension and Other Postretirement Benefit Plans | 3 Months Ended |
Mar. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefit Plans | 13. Pension and Other Postretirement Benefit Plans Net pension cost for the Schlumberger pension plans included the following components: (Stated in millions) First Quarter 2017 2016 US Int'l US Int'l Service cost $ 15 $ 29 $ 18 $ 37 Interest cost 44 78 44 80 Expected return on plan assets (60 ) (136 ) (61 ) (134 ) Amortization of prior service cost 3 24 3 30 Amortization of net loss 10 33 23 22 $ 12 $ 28 $ 27 $ 35 The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) First Quarter 2017 2016 Service cost $ 8 $ 8 Interest cost 11 12 Expected return on plan assets (15 ) (14 ) Amortization of prior service credit (7 ) (8 ) $ (3 ) $ (2 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 14. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2017 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) Other comprehensive gain (loss) before reclassifications 45 (4 ) 11 - 52 Amounts reclassified from accumulated other comprehensive loss - - - 63 63 Income taxes - - - (1 ) (1 ) Net other comprehensive (loss) income 45 (4 ) 11 62 114 Balance, March 31, 2017 $ (2,091 ) $ 17 $ (8 ) $ (2,447 ) $ (4,529 ) (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2016 $ (2,053 ) $ - $ (39 ) $ (2,466 ) $ (4,558 ) Other comprehensive gain (loss) before reclassifications 17 3 (85 ) - (65 ) Amounts reclassified from accumulated other comprehensive loss - - 94 70 164 Income taxes - - - (7 ) (7 ) Net other comprehensive income 17 3 9 63 92 Balance, March 31, 2016 $ (2,036 ) $ 3 $ (30 ) $ (2,403 ) $ (4,466 ) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
New Accounting Pronouncements | New 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 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings Per Share | The following is a reconciliation from basic earnings per share of Schlumberger to diluted earnings per share of Schlumberger: (Stated in millions, except per share amounts) 2017 2016 Schlumberger Net Income Average Shares Outstanding Earnings per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share First Quarter Basic $ 279 1,393 $ 0.20 $ 501 1,254 $ 0.40 Assumed exercise of stock options - 4 - 1 Unvested restricted stock - 5 - 4 Diluted $ 279 1,402 $ 0.20 $ 501 1,259 $ 0.40 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) 2017 2016 First Quarter 23 32 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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) Mar. 31, Dec. 31, 2017 2016 Raw materials & field materials $ 1,633 $ 1,720 Work in progress 597 610 Finished goods 2,058 1,895 $ 4,288 $ 4,225 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Property Plant And Equipment [Abstract] | |
Summary of Fixed Assets | A summary of fixed assets follows: (Stated in millions) Mar. 31, Dec. 31, 2017 2016 Property, plant & equipment $ 39,857 $ 40,008 Less: Accumulated depreciation 27,350 27,187 $ 12,507 $ 12,821 |
Multiclient Seismic Data (Table
Multiclient Seismic Data (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Multiclient Seismic Data [Abstract] | |
Change in Carrying Amount of Multiclient Seismic Data | The change in the carrying amount of multiclient seismic data for the three months ended March 31, 2017 was as follows: (Stated in millions) Balance at December 31, 2016 $ 1,073 Capitalized in period 116 Charged to expense (100 ) Balance at March 31, 2017 $ 1,089 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets by Major Class | The gross book value, accumulated amortization and net book value of intangible assets were as follows: (Stated in millions) Mar. 31, 2017 Dec. 31, 2016 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 4,960 $ 927 $ 4,033 $ 4,938 $ 865 $ 4,073 Technology/technical know-how 3,655 896 2,759 3,655 835 2,820 Tradenames 2,847 484 2,363 2,847 458 2,389 Other 1,166 578 588 1,122 549 573 $ 12,628 $ 2,885 $ 9,743 $ 12,562 $ 2,707 $ 9,855 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | A summary of Long-term Debt (Stated in millions) Mar. 31, Dec. 31, 2017 2016 4.00% Senior Notes due 2025 $ 1,740 $ 1,740 3.30% Senior Notes due 2021 1,594 1,594 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,491 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 996 996 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 645 622 1.50% Guaranteed Notes due 2019 551 536 6.38% Notes due 2018 294 297 7.00% Notes due 2038 214 214 4.50% Notes due 2021 137 137 5.95% Notes due 2041 116 116 3.60% Notes due 2022 110 110 5.13% Notes due 2043 99 99 4.00% Notes due 2023 82 83 3.70% Notes due 2024 56 56 Commercial paper borrowings 2,503 2,421 Other 1,077 1,118 $ 16,538 $ 16,463 |
Derivative Instruments and He30
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Fair Values of Outstanding Derivative Instruments | The fair values of outstanding derivative instruments were as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification Mar. 31, Dec. 31, 2017 2016 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 2 $ 1 Other current assets Derivatives not designated as hedges: Foreign exchange contracts $ 35 $ 42 Other current assets $ 37 $ 43 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 7 $ 18 Accounts payable and accrued liabilities Cross currency swap 37 49 Other Liabilities $ 44 $ 67 Derivatives not designated as hedges: Foreign exchange contracts $ 21 $ 59 Accounts payable and accrued liabilities $ 65 $ 126 |
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 First Quarter 2017 2016 Consolidated of Income Classification Derivatives designated as fair value hedges: Cross currency swap $ 18 $ 10 Interest Derivatives not designated as hedges: Foreign exchange contracts $ 6 $ (81 ) Cost of services/sales |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | (Stated in millions) First Quarter 2017 First Quarter 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,618 $ 281 $ 1,719 $ 334 Drilling 1,985 229 2,493 371 Production 2,187 110 2,376 206 Cameron 1,229 162 - - Eliminations & other (125 ) (25 ) (68 ) (10 ) Pretax operating income 757 901 Corporate & other (1) (239 ) (172 ) Interest income (2) 24 13 Interest expense (3) (126 ) (120 ) Charges and credits (4) (82 ) - $ 6,894 $ 334 $ 6,520 $ 622 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. The first quarter of 2017 includes $63 million of intangible asset amortization expense resulting from the April 2016 acquisition of Cameron. (2 ) Interest income excludes amounts which are included in the segments’ income ($5 million in 2017; $6 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($13 million in 2017; $13 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. |
Pension and Other Postretirem32
Pension and Other Postretirement Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Net Pension Cost for Schlumberger Pension Plans and US Postretirement Medical Plan | Net pension cost for the Schlumberger pension plans included the following components: (Stated in millions) First Quarter 2017 2016 US Int'l US Int'l Service cost $ 15 $ 29 $ 18 $ 37 Interest cost 44 78 44 80 Expected return on plan assets (60 ) (136 ) (61 ) (134 ) Amortization of prior service cost 3 24 3 30 Amortization of net loss 10 33 23 22 $ 12 $ 28 $ 27 $ 35 The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) First Quarter 2017 2016 Service cost $ 8 $ 8 Interest cost 11 12 Expected return on plan assets (15 ) (14 ) Amortization of prior service credit (7 ) (8 ) $ (3 ) $ (2 ) |
Accumulated Other Comprehensi33
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2017 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) Other comprehensive gain (loss) before reclassifications 45 (4 ) 11 - 52 Amounts reclassified from accumulated other comprehensive loss - - - 63 63 Income taxes - - - (1 ) (1 ) Net other comprehensive (loss) income 45 (4 ) 11 62 114 Balance, March 31, 2017 $ (2,091 ) $ 17 $ (8 ) $ (2,447 ) $ (4,529 ) (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2016 $ (2,053 ) $ - $ (39 ) $ (2,466 ) $ (4,558 ) Other comprehensive gain (loss) before reclassifications 17 3 (85 ) - (65 ) Amounts reclassified from accumulated other comprehensive loss - - 94 70 164 Income taxes - - - (7 ) (7 ) Net other comprehensive income 17 3 9 63 92 Balance, March 31, 2016 $ (2,036 ) $ 3 $ (30 ) $ (2,403 ) $ (4,466 ) |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) $ in Billions | Feb. 29, 2016USD ($) |
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 | $ 1.3 |
Charges and Credits - Additiona
Charges and Credits - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Restructuring And Related Activities [Abstract] | ||
Charges and credits, Pretax | $ 82,000,000 | $ 0 |
Charges and credits, After-tax | $ 68,000,000 | $ 0 |
Earnings Per Share - Reconcilia
Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schlumberger Net Income | ||
Basic | $ 279 | $ 501 |
Diluted | $ 279 | $ 501 |
Average Shares Outstanding | ||
Basic | 1,393 | 1,254 |
Assumed exercise of stock options | 4 | 1 |
Unvested restricted stock | 5 | 4 |
Diluted | 1,402 | 1,259 |
Earnings per Share | ||
Basic | $ 0.20 | $ 0.40 |
Diluted | $ 0.20 | $ 0.40 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 23 | 32 |
Acquisition of Cameron - Additi
Acquisition of Cameron - Additional Information (Detail) - Cameron - USD ($) shares in Millions, $ in Billions | Apr. 02, 2016 | Mar. 31, 2016 |
Business Acquisition [Line Items] | ||
Shares of common stock issued in connection with acquisition | 138 | |
Value of common stock issued in connection with acquisition | $ 9.9 | |
Cash paid for acquisition | $ 2.8 | |
Revenue reported by Cameron during the first quarter | $ 1.6 |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Inventory Disclosure [Abstract] | ||
Raw materials & field materials | $ 1,633 | $ 1,720 |
Work in progress | 597 | 610 |
Finished goods | 2,058 | 1,895 |
Inventories | $ 4,288 | $ 4,225 |
Fixed Assets - Summary of Fixed
Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Property Plant And Equipment [Abstract] | ||
Property, plant & equipment | $ 39,857 | $ 40,008 |
Less: Accumulated depreciation | 27,350 | 27,187 |
Fixed assets less accumulated depreciation | $ 12,507 | $ 12,821 |
Fixed Assets - Additional Infor
Fixed Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Property Plant And Equipment [Abstract] | ||
Depreciation expense relating to fixed assets | $ 613 | $ 682 |
Multiclient Seismic Data - Chan
Multiclient Seismic Data - Change in Carrying Amount of Multiclient Seismic Data (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Multiclient Seismic Data [Abstract] | |
Balance at December 31, 2016 | $ 1,073 |
Capitalized in period | 116 |
Charged to expense | (100) |
Balance at March 31, 2017 | $ 1,089 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | $ 12,628 | $ 12,562 |
Accumulated Amortization | 2,885 | 2,707 |
Net Book Value | 9,743 | 9,855 |
Customer Relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 4,960 | 4,938 |
Accumulated Amortization | 927 | 865 |
Net Book Value | 4,033 | 4,073 |
Technology/Technical Know-how | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 3,655 | 3,655 |
Accumulated Amortization | 896 | 835 |
Net Book Value | 2,759 | 2,820 |
Tradenames | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 2,847 | 2,847 |
Accumulated Amortization | 484 | 458 |
Net Book Value | 2,363 | 2,389 |
Other | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,166 | 1,122 |
Accumulated Amortization | 578 | 549 |
Net Book Value | $ 588 | $ 573 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $ 169 | $ 89 |
Estimated amortization charged to income, remaining three quarters of 2017 | 526 | |
Estimated amortization charged to income, 2018 | 668 | |
Estimated amortization charged to income, 2019 | 627 | |
Estimated amortization charged to income, 2020 | 599 | |
Estimated amortization charged to income, 2021 | 576 | |
Estimated amortization charged to income, 2022 | $ 571 |
Long-term Debt - Summary of Lon
Long-term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 16,538 | $ 16,463 |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 2,503 | 2,421 |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,740 | 1,740 |
3.30% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,594 | 1,594 |
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 | 1,491 |
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 | 996 |
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 | 645 | 622 |
1.50% Guaranteed Notes due 2019 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 551 | 536 |
6.38% Notes due 2018 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 294 | 297 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 214 | 214 |
Other | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,077 | 1,118 |
4.50% Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 137 | 137 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 116 | 116 |
3.60% Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 110 | 110 |
5.13% Notes due 2043 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 99 | 99 |
4.00% Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 82 | 83 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 56 | $ 56 |
Long-term Debt - Summary of L46
Long-term Debt - Summary of Long-term Debt (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
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% |
Debt instrument maturity date | 2,019 | 2,019 |
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 |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term debt, fair value | $ 16,800 | $ 16,800 |
Short-term borrowings and current portion of long-term debt | 2,449 | 3,153 |
Long-term debt, carrying amount | 16,538 | 16,463 |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Short-term borrowings and current portion of long-term debt | 400 | 200 |
Long-term debt, carrying amount | 2,503 | 2,421 |
Long-term debt | $ 2,900 | $ 2,600 |
Derivative Instruments and He48
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2017USD ($)Country | Dec. 31, 2013EUR (€) | |
Derivative [Line Items] | ||
Fixed rate debt, after taking into account the effects of the interest rate swaps | $ 14,200,000,000 | |
Variable rate debt, after taking into account the effects of the interest rate swaps | 4,800,000,000 | |
Short-term investments and fixed income investments, held to maturity | 5,700,000,000 | |
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 | $ (8,000,000) | |
Minimum | ||
Derivative [Line Items] | ||
Number of countries in which Schlumberger conducts business | Country | 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 | $ 3,800,000,000 | |
Foreign exchange contracts | Debt | Derivatives designated as hedges | ||
Derivative [Line Items] | ||
Notional amount of interest rate swap | $ 700,000,000 | |
London Interbank Offered Rate (LIBOR) | Floating Rate Debt | 1.50% Guaranteed Notes due 2019 | ||
Derivative [Line Items] | ||
Basis point | 0.64% |
Derivative Instruments and He49
Derivative Instruments and Hedging Activities - Fair Values of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative Assets | ||
Derivative Assets | $ 37 | $ 43 |
Derivative Liabilities | ||
Derivative Liabilities | 65 | 126 |
Derivatives designated as hedges | ||
Derivative Liabilities | ||
Derivative Liabilities | 44 | 67 |
Foreign exchange contracts | Derivatives designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 2 | 1 |
Foreign exchange contracts | Derivatives designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 7 | 18 |
Foreign exchange contracts | Derivatives not designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 35 | 42 |
Foreign exchange contracts | Derivatives not designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 21 | 59 |
Cross currency swap | Derivatives designated as hedges | Other Liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | $ 37 | $ 49 |
Derivative Instruments and He50
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 | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivatives designated as hedges | Cross currency swap | Interest | ||
Derivative Instruments Gain Loss [Line Items] | ||
Gain (Loss) Recognized in Income | $ 18 | $ 10 |
Derivatives not designated as hedges | Foreign exchange contracts | Cost of services/sales | ||
Derivative Instruments Gain Loss [Line Items] | ||
Gain (Loss) Recognized in Income | $ 6 | $ (81) |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Segment Reporting Information [Line Items] | |||
Revenue | $ 6,894 | $ 6,520 | |
Income Before Taxes | 334 | 622 | |
Pretax operating income | 757 | 901 | |
Interest expense | 139 | 133 | |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Interest income | 5 | 6 | |
Interest expense | 13 | 13 | |
Operating Segments | Reservoir Characterization | |||
Segment Reporting Information [Line Items] | |||
Revenue | 1,618 | 1,719 | |
Income Before Taxes | 281 | 334 | |
Operating Segments | Drilling | |||
Segment Reporting Information [Line Items] | |||
Revenue | 1,985 | 2,493 | |
Income Before Taxes | 229 | 371 | |
Operating Segments | Production | |||
Segment Reporting Information [Line Items] | |||
Revenue | 2,187 | 2,376 | |
Income Before Taxes | 110 | 206 | |
Operating Segments | Cameron | |||
Segment Reporting Information [Line Items] | |||
Revenue | 1,229 | ||
Income Before Taxes | 162 | ||
Eliminations & other | |||
Segment Reporting Information [Line Items] | |||
Revenue | (125) | (68) | |
Income Before Taxes | (25) | (10) | |
Material Reconciling Items | |||
Segment Reporting Information [Line Items] | |||
Corporate & other | [1] | (239) | (172) |
Interest income | [2] | 24 | 13 |
Interest expense | [3] | (126) | $ (120) |
Charges and credits | [4] | $ (82) | |
[1] | Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. The first quarter of 2017 includes $63 million of intangible asset amortization expense resulting from the April 2016 acquisition of Cameron. | ||
[2] | Interest income excludes amounts which are included in the segments’ income ($5 million in 2017; $6 million in 2016). | ||
[3] | Interest expense excludes amounts which are included in the segments’ income ($13 million in 2017; $13 million in 2016). | ||
[4] | See Note 2 – Charges and Credits. |
Segment Information - Schedul52
Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Intangible asset amortization expense | $ 169 | $ 89 |
Interest expense | 139 | 133 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Interest income | 5 | 6 |
Interest expense | 13 | $ 13 |
Operating Segments | April 2016 Acquisition | Cameron | ||
Segment Reporting Information [Line Items] | ||
Intangible asset amortization expense | $ 63 |
Pension and Other Postretirem53
Pension and Other Postretirement Benefit Plans - Net Pension Cost for Schlumberger Pension Plans and US Postretirement Medical Plan (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
US Plan Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 15 | $ 18 |
Interest cost | 44 | 44 |
Expected return on plan assets | (60) | (61) |
Amortization of prior service cost | 3 | 3 |
Amortization of net loss | 10 | 23 |
Total pension cost | 12 | 27 |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 29 | 37 |
Interest cost | 78 | 80 |
Expected return on plan assets | (136) | (134) |
Amortization of prior service cost | 24 | 30 |
Amortization of net loss | 33 | 22 |
Total pension cost | 28 | 35 |
Postretirement medical plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 8 | 8 |
Interest cost | 11 | 12 |
Expected return on plan assets | (15) | (14) |
Amortization of prior service cost | (7) | (8) |
Total pension cost | $ (3) | $ (2) |
Accumulated Other Comprehensi54
Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | $ 41,529 | $ 35,905 |
Other comprehensive gain (loss) before reclassifications | 52 | (65) |
Amounts reclassified from accumulated other comprehensive loss | 63 | 164 |
Income taxes | (1) | (7) |
Net other comprehensive (loss) income | 114 | 92 |
Balance | 41,054 | 35,662 |
Currency Translation Adjustments | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (2,136) | (2,053) |
Other comprehensive gain (loss) before reclassifications | 45 | 17 |
Net other comprehensive (loss) income | 45 | 17 |
Balance | (2,091) | (2,036) |
Unrealized Gain/(Loss) on Marketable Securities | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | 21 | |
Other comprehensive gain (loss) before reclassifications | (4) | 3 |
Net other comprehensive (loss) income | (4) | 3 |
Balance | 17 | 3 |
Cash Flow Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (19) | (39) |
Other comprehensive gain (loss) before reclassifications | 11 | (85) |
Amounts reclassified from accumulated other comprehensive loss | 94 | |
Net other comprehensive (loss) income | 11 | 9 |
Balance | (8) | (30) |
Pension and Other Postretirement Benefit Plans | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (2,509) | (2,466) |
Amounts reclassified from accumulated other comprehensive loss | 63 | 70 |
Income taxes | (1) | (7) |
Net other comprehensive (loss) income | 62 | 63 |
Balance | (2,447) | (2,403) |
Accumulated Other Comprehensive Loss | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (4,643) | (4,558) |
Balance | $ (4,529) | $ (4,466) |