Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2022 shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q3 |
Entity Registrant Name | SCHLUMBERGER LIMITED/NV |
Entity Central Index Key | 0000087347 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,417,993,775 |
Entity Shell Company | false |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity File Number | 1-4601 |
Entity Tax Identification Number | 52-0684746 |
Entity Address, Address Line One | 5599 San Felipe |
Entity Address, City or Town | Houston |
Entity Address, State or Province | TX |
Entity Incorporation, State or Country Code | P8 |
Entity Address, Country | US |
Entity Address, Postal Zip Code | 77056 |
City Area Code | 713 |
Local Phone Number | 513-2000 |
Document Quarterly Report | true |
Document Transition Report | false |
Title of 12(b) Security | common stock, par value $0.01 per share |
Security Exchange Name | NYSE |
Trading Symbol | SLB |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenue | ||||
Total Revenue | $ 7,477 | $ 5,847 | $ 20,213 | $ 16,704 |
Interest & other income | 75 | 56 | 436 | 91 |
Expenses | ||||
Research & engineering | 160 | 140 | 456 | 409 |
General & administrative | 94 | 80 | 277 | 231 |
Interest | 122 | 130 | 369 | 402 |
Income before taxes | 1,134 | 691 | 2,924 | 1,618 |
Tax expense | 215 | 129 | 514 | 301 |
Net income | 919 | 562 | 2,410 | 1,317 |
Net income attributable to noncontrolling interests | 12 | 12 | 33 | 37 |
Net income attributable to Schlumberger | $ 907 | $ 550 | $ 2,377 | $ 1,280 |
Basic income per share of Schlumberger | $ 0.64 | $ 0.39 | $ 1.68 | $ 0.92 |
Diluted income per share of Schlumberger | $ 0.63 | $ 0.39 | $ 1.65 | $ 0.90 |
Average shares outstanding: | ||||
Basic | 1,418 | 1,402 | 1,414 | 1,399 |
Assuming dilution | 1,439 | 1,424 | 1,436 | 1,422 |
Services | ||||
Revenue | ||||
Total Revenue | $ 5,153 | $ 4,020 | $ 14,109 | $ 11,291 |
Expenses | ||||
Cost of services and sales | 3,975 | 3,334 | 11,082 | 9,588 |
Product | ||||
Revenue | ||||
Total Revenue | 2,324 | 1,827 | 6,104 | 5,413 |
Expenses | ||||
Cost of services and sales | $ 2,067 | $ 1,528 | $ 5,541 | $ 4,547 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 919 | $ 562 | $ 2,410 | $ 1,317 |
Currency translation adjustments | ||||
Unrealized net change arising during the period | (18) | 30 | 92 | 6 |
Cash flow hedges | ||||
Net gain (loss) on cash flow hedges | 45 | (9) | (53) | 13 |
Reclassification to net income of net realized (gain) loss | 30 | (2) | 103 | (7) |
Pension and other postretirement benefit plans | ||||
Amortization to net income of net actuarial loss | 16 | 69 | 46 | 202 |
Amortization to net income of net prior service credit | (6) | (6) | (17) | (17) |
Income taxes on pension and other postretirement benefit plans | 1 | (3) | 3 | (6) |
Other | (4) | |||
Comprehensive income | 987 | 641 | 2,584 | 1,504 |
Comprehensive income attributable to noncontrolling interests | 12 | 12 | 33 | 37 |
Comprehensive income attributable to Schlumberger | $ 975 | $ 629 | $ 2,551 | $ 1,467 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash | $ 2,180 | $ 1,757 |
Short-term investments | 1,429 | 1,382 |
Receivables less allowance for doubtful accounts (2022 - $335; 2021 - $320) | 6,650 | 5,315 |
Inventories | 4,143 | 3,272 |
Other current assets | 1,209 | 928 |
Current assets total | 15,611 | 12,654 |
Investments in Affiliated Companies | 1,762 | 2,044 |
Fixed Assets less accumulated depreciation | 6,407 | 6,429 |
Goodwill | 12,990 | 12,990 |
Intangible Assets | 3,043 | 3,211 |
Other Assets | 4,280 | 4,183 |
Total Assets | 44,093 | 41,511 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 9,034 | 8,382 |
Estimated liability for taxes on income | 938 | 879 |
Short-term borrowings and current portion of long-term debt | 899 | 909 |
Dividends payable | 263 | 189 |
Current Liabilities Total | 11,134 | 10,359 |
Long-term Debt | 12,452 | 13,286 |
Postretirement Benefits | 233 | 231 |
Deferred Taxes | 86 | 94 |
Other Liabilities | 2,677 | 2,255 |
Total Liabilities | 26,582 | 26,225 |
Equity | ||
Common stock | 11,867 | 12,608 |
Treasury stock | (1,176) | (2,233) |
Retained earnings | 9,904 | 8,199 |
Accumulated other comprehensive loss | (3,396) | (3,570) |
Schlumberger stockholders’ equity | 17,199 | 15,004 |
Noncontrolling interests | 312 | 282 |
Total equity | 17,511 | 15,286 |
Liabilities and stockholders equity | $ 44,093 | $ 41,511 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts on receivable | $ 335 | $ 320 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | ||
Cash flows from operating activities: | |||
Net income | $ 2,410 | $ 1,317 | |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Gain on sale of Liberty shares | (242) | ||
Gain on sale of real estate | (43) | ||
Gain on marketable securities | (47) | ||
Depreciation and amortization | [1] | 1,598 | 1,588 |
Deferred taxes | 3 | (33) | |
Stock-based compensation expense | 236 | 229 | |
Earnings of equity method investments, less dividends received | (52) | 6 | |
Change in assets and liabilities: | |||
Increase in receivables | (1,302) | (97) | |
(Increase) decrease in inventories | (849) | 54 | |
(Increase) decrease in other current assets | (144) | 506 | |
Increase in other assets | [2] | (40) | (9) |
Increase (decrease) in accounts payable and accrued liabilities | 475 | (660) | |
Increase (decrease) in estimated liability for taxes on income | 6 | (124) | |
Other | [2] | 50 | (11) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 2,106 | 2,719 | |
Cash flows from investing activities: | |||
Capital expenditures | (1,046) | (694) | |
APS investments | (420) | (305) | |
Exploration data costs capitalized | (77) | (21) | |
Business acquisitions and investments, net of cash acquired | (45) | (134) | |
Proceeds from sale of Liberty shares | 513 | ||
Proceeds from sale of real estate | 120 | ||
(Purchase) sale of short-term investments, net | (55) | 790 | |
Other | (106) | (29) | |
NET CASH USED IN INVESTING ACTIVITIES | (1,116) | (393) | |
Cash flows from financing activities: | |||
Dividends paid | (600) | (524) | |
Proceeds from employee stock purchase plan | 142 | 137 | |
Proceeds from exercise of stock options | 29 | ||
Proceeds from issuance of long-term debt | 34 | ||
Repayment of long-term debt | (1,076) | ||
Net decrease in short-term borrowings | (13) | (94) | |
Taxes paid on net settled stock-based compensation awards | (92) | (21) | |
Other | (4) | (60) | |
NET CASH USED IN FINANCING ACTIVITIES | (538) | (1,604) | |
Net increase in cash before translation effect | 452 | 722 | |
Translation effect on cash | (29) | 3 | |
Cash, beginning of period | 1,757 | 844 | |
Cash, end of period | $ 2,180 | $ 1,569 | |
[1]Includes depreciation of property, plant and equipment and amortization of intangible assets, exploration data costs, and APS investments.[2]Net of the effect of business acquisitions and divestitures. |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS' 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, 2020 | $ 12,489 | $ 12,970 | $ (3,033) | $ 7,018 | $ (4,884) | $ 418 |
Net income | 1,317 | 1,280 | 37 | |||
Currency translation adjustments | 4 | 6 | (2) | |||
Changes in fair value of cash flow hedges | 6 | 6 | ||||
Pension and other postretirement benefit plans | 179 | 179 | ||||
Vesting of restricted stock, net of taxes withheld | (21) | (248) | 227 | |||
Employee stock purchase plan | 137 | (377) | 514 | |||
Stock-based compensation expense | 229 | 229 | ||||
Dividends declared | (523) | (523) | ||||
Deconsolidation of subsidiary | (123) | (123) | ||||
Other | (29) | (3) | 5 | (4) | (27) | |
Balance at Sep. 30, 2021 | 13,665 | 12,571 | (2,287) | 7,775 | (4,697) | 303 |
Balance at Jun. 30, 2021 | 13,059 | 12,730 | (2,591) | 7,399 | (4,776) | 297 |
Net income | 562 | 550 | 12 | |||
Currency translation adjustments | 30 | 30 | ||||
Changes in fair value of cash flow hedges | (11) | (11) | ||||
Pension and other postretirement benefit plans | 60 | 60 | ||||
Vesting of restricted stock, net of taxes withheld | (3) | (56) | 53 | |||
Employee stock purchase plan | 75 | (175) | 250 | |||
Stock-based compensation expense | 73 | 73 | ||||
Dividends declared | (174) | (174) | ||||
Other | (6) | (1) | 1 | (6) | ||
Balance at Sep. 30, 2021 | 13,665 | 12,571 | (2,287) | 7,775 | (4,697) | 303 |
Balance at Dec. 31, 2021 | $ 15,286 | $ 12,608 | $ (2,233) | 8,199 | (3,570) | 282 |
Balance, shares at Dec. 31, 2021 | 1,403 | 1,434 | ||||
Treasury shares, Balance at Dec. 31, 2021 | (31) | |||||
Net income | $ 2,410 | 2,377 | 33 | |||
Currency translation adjustments | 92 | 92 | ||||
Changes in fair value of cash flow hedges | 50 | 50 | ||||
Pension and other postretirement benefit plans | 32 | 32 | ||||
Shares sold to optionees, less shares exchanged | $ 29 | $ (24) | $ 53 | |||
Shares sold to optionees, less shares exchanged, shares | 1 | 1 | ||||
Vesting of restricted stock, net of taxes withheld | $ (92) | (730) | $ 638 | |||
Vesting of restricted stock, shares | 9 | 9 | ||||
Employee stock purchase plan | $ 142 | (222) | $ 364 | |||
Shares issued under employee stock purchase plan, shares | 5 | 5 | ||||
Stock-based compensation expense | $ 236 | 236 | ||||
Dividends declared | (672) | (672) | ||||
Dividends paid to noncontrolling interests | (4) | (4) | ||||
Other | 2 | (1) | $ 2 | 1 | ||
Balance at Sep. 30, 2022 | $ 17,511 | $ 11,867 | $ (1,176) | 9,904 | (3,396) | 312 |
Balance, shares at Sep. 30, 2022 | 1,418 | 1,434 | ||||
Treasury shares, Balance at Sep. 30, 2022 | (16) | |||||
Balance at Jun. 30, 2022 | $ 16,625 | $ 11,981 | $ (1,436) | 9,244 | (3,464) | 300 |
Net income | 919 | 907 | 12 | |||
Currency translation adjustments | (18) | (18) | ||||
Changes in fair value of cash flow hedges | 75 | 75 | ||||
Pension and other postretirement benefit plans | 11 | 11 | ||||
Vesting of restricted stock, net of taxes withheld | (7) | (72) | 65 | |||
Employee stock purchase plan | 78 | (118) | 196 | |||
Stock-based compensation expense | 76 | 76 | ||||
Dividends declared | (248) | (248) | ||||
Other | (1) | 1 | ||||
Balance at Sep. 30, 2022 | $ 17,511 | $ 11,867 | $ (1,176) | $ 9,904 | $ (3,396) | $ 312 |
Balance, shares at Sep. 30, 2022 | 1,418 | 1,434 | ||||
Treasury shares, Balance at Sep. 30, 2022 | (16) |
CONSOLIDATED STATEMENT OF STO_2
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (Unaudited) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retained Earnings | ||||
Dividends declared, per share | $ 0.175 | $ 0.125 | $ 0.475 | $ 0.375 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
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 nine-month period ended September 30, 2022 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2022. The December 31, 2021 balance sheet information has been derived from the Schlumberger 2021 audited financial statements. For further information, refer to the Consolidated Financial Statements |
Charges and Credits
Charges and Credits | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring And Related Activities [Abstract] | |
Charges and Credits | 2. Charges and Credits 2022 Schlumberger recorded the following credits during the first nine months of 2022, all of which are classified in Interest & other income Consolidated Statement of Income (Stated in millions) Pretax Credit Tax Expense Net First quarter: Gain on sale of Liberty shares $ 26 $ 4 $ 22 Second quarter: Gain on sale of Liberty shares 216 13 203 Gain on sale of real estate 43 2 41 $ 285 $ 19 $ 266 On December 31, 2020, Schlumberger contributed its onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating and Permian frac sand business to Liberty Energy Inc. (“Liberty”) in exchange for an equity interest in Liberty. During the first quarter of 2022, Schlumberger sold 7.2 million of its shares of Liberty and received proceeds of $84 million. During the second quarter of 2022, Schlumberger sold an additional 26.5 million of its shares in Liberty and received proceeds of $429 million. As a result of these transactions Schlumberger recognized a gain of $26 million during the first quarter of 2022 and a gain of $216 million during the second quarter of 2022. As of September 30, 2022, Schlumberger had a 12% equity interest in Liberty. During the second quarter of 2022, Schlumberger sold certain real estate and received proceeds of $120 million. As a result of this transaction, Schlumberger recognized a gain of $43 million. 2021 During the third quarter of 2021, a start-up company that Schlumberger previously invested in was acquired. As a result of this transaction, Schlumberger’s ownership interest was converted into shares of a publicly traded company. Schlumberger recognized an unrealized pretax gain of $47 million ($36 million after-tax) to increase the carrying value of this investment to its estimated fair value of approximately $55 million. This unrealized gain is reflected in Interest & other income Consolidated Statement of Income |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 3. Earnings per Share The following is a reconciliation from basic income per share of Schlumberger to diluted income per share of Schlumberger: (Stated in millions, except per share amounts) 2022 2021 Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Third Quarter Basic $ 907 1,418 $ 0.64 $ 550 1,402 $ 0.39 Unvested restricted stock - 21 - 22 Diluted $ 907 1,439 $ 0.63 $ 550 1,424 $ 0.39 2022 2021 Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Nine Months Basic $ 2,377 1,414 $ 1.68 $ 1,280 $ 1,399 $ 0.92 Unvested restricted stock - 22 - 23 Diluted $ 2,377 1,436 $ 1.65 $ 1,280 $ 1,422 $ 0.90 The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted income per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) Third Quarter Nine Months 2022 2021 2022 2021 Employee stock options 37 43 31 43 |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | 4. Inventories A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows: (Stated in millions) Sept. 30, Dec. 31, 2022 2021 Raw materials & field materials $ 2,123 $ 1,594 Work in progress 604 425 Finished goods 1,416 1,253 $ 4,143 $ 3,272 |
Fixed Assets
Fixed Assets | 9 Months Ended |
Sep. 30, 2022 | |
Property Plant And Equipment [Abstract] | |
Fixed Assets | 5. Fixed Assets A summary of fixed assets follows: (Stated in millions) Sept. 30, Dec. 31, 2022 2021 Property, plant & equipment $ 28,260 $ 29,077 Less: Accumulated depreciation 21,853 22,648 $ 6,407 $ 6,429 Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2022 2021 Third Quarter $ 343 $ 350 Nine Months $ 1,021 $ 1,057 |
Intangible Assets
Intangible Assets | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 6. Intangible Assets The gross book value, accumulated amortization and net book value of intangible assets were as follows: (Stated in millions) Sept. 30, 2022 Dec. 31, 2021 Gross Accumulated Net Book Gross Accumulated Net Book Book Value Amortization Value Book Value Amortization Value Customer relationships $ 1,694 $ 617 $ 1,077 $ 1,681 $ 551 $ 1,130 Technology/technical know-how 1,285 658 627 1,264 562 702 Tradenames 759 215 544 766 191 575 Other 1,635 840 795 1,578 774 804 $ 5,373 $ 2,330 $ 3,043 $ 5,289 $ 2,078 $ 3,211 Amortization expense charged to income was as follows: (Stated in millions) 2022 2021 Third Quarter $ 76 $ 75 Nine Months $ 226 $ 226 Based on the net book value of intangible assets at September 30, 2022, amortization expense for the subsequent five years is estimated to be: fourth quarter of 2022—$72 million; 2023—$288 million; 2024—$278 million; 2025—$263 million; 2026—$254 million; and 2027—$252 million. |
Long-term Debt
Long-term Debt | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Long-term Debt | 7. Long-term Debt A summary of Long-term Debt (Stated in millions) Sept. 30, Dec. 31, 2022 2021 3.65% Senior Notes due 2023 $ 1,498 $ 1,497 3.90% Senior Notes due 2028 1,462 1,457 2.65% Senior Notes due 2030 1,250 1,250 1.375% Guaranteed Notes due 2026 955 1,125 2.00% Guaranteed Notes due 2032 948 1,118 4.00% Senior Notes due 2025 931 930 0.25% Notes due 2027 860 1,013 0.50% Notes due 2031 858 1,012 4.30% Senior Notes due 2029 846 846 3.75% Senior Notes due 2024 749 748 1.00% Guaranteed Notes due 2026 572 679 1.40% Senior Notes due 2025 499 498 0.00% Notes due 2024 478 563 7.00% Notes due 2038 202 204 5.95% Notes due 2041 113 113 5.13% Notes due 2043 98 98 4.00% Notes due 2023 79 80 3.70% Notes due 2024 54 55 $ 12,452 $ 13,286 The estimated fair value of Schlumberger’s Long-term Debt, Schlumberger has a €750 million three-year June 2024 In addition to the revolving credit facility described above, at September 30, 2022, Schlumberger had committed credit facility agreements aggregating $5.75 billion with commercial banks, all of which was available and unused. These committed facilities support commercial paper programs in the United States and Europe, of which $0.75 billion matures in February 2024, $2.0 billion matures in February 2025, $1.0 billion matures in July 2026 and $2.0 billion matures in February 2027. Interest rates and other terms of borrowing under these lines of credit vary by facility. There were no borrowings under the commercial paper programs at September 30, 2022 and December 31, 2021. Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA and Schlumberger Finance Canada Ltd., both wholly-owned subsidiaries of Schlumberger. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 8. Derivative Instruments and Hedging Activities As a multinational company, Schlumberger conducts its business in over 120 countries. Schlumberger’s functional currency is primarily the US dollar. 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 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 changes in the fair value of the hedge recorded on the Consolidated Balance Sheet Accumulated other comprehensive loss. Accumulated other comprehensive loss Schlumberger is exposed to risks on future cash flows relating to certain of its fixed rate debt denominated in currencies other than the functional currency. Schlumberger uses cross-currency swaps to provide a hedge against these cash flow risks. A summary of the fair value of the outstanding cross-currency swap derivatives, which was determined using a model with inputs that are observable in the market or can be derived or corroborated by observable data, included in the Consolidated Balance Sheet (Stated in millions) Sept. 30, 2022 Dec. 31, 2021 Other current assets $ 45 $ - Other assets $ 10 $ 66 Other Liabilities $ 666 $ 78 During 2019, a US-dollar functional currency subsidiary of Schlumberger issued €1.5 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €1.5 billion in order to hedge changes in the fair value of its €0.5 billion 0.00% Notes due 2024, €0.5 billion 0.25% Notes due 2027 and €0.5 billion 0.50% Notes due 2031. These cross-currency swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.29%, 2.51% and 2.76%, respectively. During 2020, a US-dollar functional currency subsidiary of Schlumberger issued €0.8 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €0.8 billion in order to hedge changes in the fair value of its €0.4 billion of 0.25% Notes due 2027 and €0.4 billion of 0.50% Notes due 2031. These cross-currency swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 1.87% and 2.20%, respectively. During 2020, a US-dollar functional currency subsidiary of Schlumberger issued €2.0 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €2.0 billion in order to hedge changes in the fair value of its €1.0 billion of 1.375% Guaranteed Notes due 2026 and €1.0 billion of 2.00% Guaranteed Notes due 2032. These cross-currency swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.77% and 3.49%, respectively. During 2020, a Canadian dollar functional currency subsidiary of Schlumberger issued $0.5 billion of US dollar denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of $0.5 billion in order to hedge changes in the fair value of its $0.5 billion 1.40% Senior Notes due 2025. These cross-currency swaps effectively convert the US dollar notes to Canadian dollar denominated debt with a fixed annual interest rate of 1.73%. Schlumberger has entered into derivative contracts that hedge the price of oil related to approximately 75% of the projected oil production for all of 2022 and approximately 30% of the projected oil production for the first six months of 2023 for one of its Asset Performance Solutions ("APS") projects. These contracts are accounted for as cash flow hedges, with the changes in the fair value of the hedge recorded in Accumulated other comprehensive loss Accumulated other comprehensive loss in Other current assets was $ 8 million and included in Accounts payable and accrued liabilities was $ 6 million relating to the fair value of the outstanding commodity contracts. Schlumberger is exposed to changes in the fair value of assets and liabilities 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 is recorded on the Consolidated Balance Sheet Consolidated Statement of Income, At September 30, 2022, contracts were outstanding for the US dollar equivalent of $7.2 billion in various foreign currencies, of which $5.2 billion relates to hedges of debt denominated in currencies other than the functional currency. Other than the previously mentioned cross-currency swaps and commodity hedges, the fair value of the other outstanding derivatives was not material at September 30, 2022 and December 31, 2021. The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income (Stated in millions) Gain (Loss) Recognized in Income Third Quarter Nine Months 2022 2021 2022 2021 Consolidated Statement of Income Classification Derivatives designated as cash flow hedges: Cross currency swaps $ (362 ) $ (89 ) $ (653 ) $ (267 ) Cost of services/sales Commodity contracts (20 ) - (85 ) - Revenue Foreign exchange contracts (10 ) 2 (17 ) 7 Cost of services/sales $ (392 ) $ (87 ) $ (755 ) $ (260 ) Derivatives not designated as hedges: Foreign exchange contracts $ 8 $ (45 ) $ (30 ) $ (19 ) Cost of services/sales |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies | 9. Contingencies Schlumberger is party to various legal proceedings from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. Management believes that the probability of a material loss with respect to any currently pending legal proceeding is remote. However, litigation is inherently uncertain and it is not possible to predict the ultimate disposition of any of these proceedings. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | 10. Segment Information (Stated in millions) Third Quarter 2022 Third Quarter 2021 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 900 $ 305 $ 812 $ 284 Reservoir Performance 1,456 244 1,192 190 Well Construction 3,084 664 2,273 345 Production Systems 2,150 224 1,674 166 Eliminations & other (113 ) (37 ) (104 ) (77 ) Pretax segment operating income 1,400 908 Corporate & other (1) (155 ) (145 ) Interest income (2) 8 8 Interest expense (3) (119 ) (127 ) Charges and credits (4) - 47 $ 7,477 $ 1,134 $ 5,847 $ 691 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) ( 3 ) ( 4 ) Charges and Credits (Stated in millions) Nine Months 2022 Nine Months 2021 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 2,713 $ 976 $ 2,401 $ 805 Reservoir Performance 3,999 598 3,312 448 Well Construction 8,168 1,522 6,319 827 Production Systems 5,647 509 4,946 475 Eliminations & other (314 ) (151 ) (274 ) (176 ) Pretax segment operating income 3,454 2,379 Corporate & other (1) (468 ) (434 ) Interest income (2) 13 17 Interest expense (3) (360 ) (391 ) Charges and credits (4) 285 47 $ 20,213 $ 2,924 $ 16,704 $ 1,618 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) (3) (4) Charges and Credits Revenue by geographic area was as follows: (Stated in millions) Third Quarter Nine Months 2022 2021 2022 2021 North America $ 1,543 $ 1,129 $ 4,362 $ 3,185 Latin America 1,508 1,160 4,042 3,255 Europe/CIS/Africa 2,039 1,481 5,134 4,190 Middle East & Asia 2,334 2,034 6,525 5,952 Other 53 43 150 122 $ 7,477 $ 5,847 $ 20,213 $ 16,704 North America and International revenue disaggregated by segment was as follows: (Stated in millions) Third Quarter 2022 North America International Other Total Digital & Integration $ 229 $ 671 $ - $ 900 Reservoir Performance 119 1,335 2 1,456 Well Construction 621 2,406 57 3,084 Production Systems 578 1,569 3 2,150 Eliminations & other (4 ) (100 ) (9 ) (113 ) $ 1,543 $ 5,881 $ 53 $ 7,477 Third Quarter 2021 North America International Other Total Digital & Integration $ 196 $ 615 $ 1 $ 812 Reservoir Performance 79 1,112 1 1,192 Well Construction 382 1,839 52 2,273 Production Systems 469 1,205 - 1,674 Eliminations & other 3 (96 ) (11 ) (104 ) $ 1,129 $ 4,675 $ 43 $ 5,847 Nine Months 2022 North America International Other Total Digital & Integration $ 781 $ 1,928 $ 4 $ 2,713 Reservoir Performance 333 3,661 5 3,999 Well Construction 1,659 6,354 155 8,168 Production Systems 1,601 4,037 9 5,647 Eliminations & other (12 ) (279 ) (23 ) (314 ) $ 4,362 $ 15,701 $ 150 $ 20,213 Nine Months 2021 North America International Other Total Digital & Integration $ 549 $ 1,850 $ 2 $ 2,401 Reservoir Performance 237 3,072 3 3,312 Well Construction 1,045 5,124 150 6,319 Production Systems 1,347 3,587 12 4,946 Eliminations & other 7 (236 ) (45 ) (274 ) $ 3,185 $ 13,397 $ 122 $ 16,704 Revenue in excess of billings related to contracts where revenue is recognized over time was $0.2 billion at both September 30, 2022 and December 31, 2021. Such amounts are included within Receivables less allowance for doubtful accounts Consolidated Balance Sheet Due to the nature of its business, Schlumberger does not have significant backlog. Total backlog was $2.9 billion at September 30, 2022, of which approximately 60% is expected to be recognized as revenue over the next 12 months. Billings and cash collections in excess of revenue was $1.2 billion at September 30, 2022 and $1.1 billion at December 31, 2021. Such amounts are included within Accounts payable and accrued liabilities Consolidated Balance Sheet |
Charges and Credits (Table)
Charges and Credits (Table) | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring And Related Activities [Abstract] | |
Summary of Charges and Credits | Schlumberger recorded the following credits during the first nine months of 2022, all of which are classified in Interest & other income Consolidated Statement of Income (Stated in millions) Pretax Credit Tax Expense Net First quarter: Gain on sale of Liberty shares $ 26 $ 4 $ 22 Second quarter: Gain on sale of Liberty shares 216 13 203 Gain on sale of real estate 43 2 41 $ 285 $ 19 $ 266 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Reconciliation of Income Per Share | The following is a reconciliation from basic income per share of Schlumberger to diluted income per share of Schlumberger: (Stated in millions, except per share amounts) 2022 2021 Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Third Quarter Basic $ 907 1,418 $ 0.64 $ 550 1,402 $ 0.39 Unvested restricted stock - 21 - 22 Diluted $ 907 1,439 $ 0.63 $ 550 1,424 $ 0.39 2022 2021 Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Net Income Attributable to Schlumberger Average Shares Outstanding Earnings per Share Nine Months Basic $ 2,377 1,414 $ 1.68 $ 1,280 $ 1,399 $ 0.92 Unvested restricted stock - 22 - 23 Diluted $ 2,377 1,436 $ 1.65 $ 1,280 $ 1,422 $ 0.90 |
Schedule of Antidilutive Securities Excluded from Computation of Income Per Share | The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted income per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) Third Quarter Nine Months 2022 2021 2022 2021 Employee stock options 37 43 31 43 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Summary of Inventory | A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows: (Stated in millions) Sept. 30, Dec. 31, 2022 2021 Raw materials & field materials $ 2,123 $ 1,594 Work in progress 604 425 Finished goods 1,416 1,253 $ 4,143 $ 3,272 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Property Plant And Equipment [Abstract] | |
Summary of Fixed Assets | A summary of fixed assets follows: (Stated in millions) Sept. 30, Dec. 31, 2022 2021 Property, plant & equipment $ 28,260 $ 29,077 Less: Accumulated depreciation 21,853 22,648 $ 6,407 $ 6,429 |
Depreciation Expense Relating To Fixed Assets | Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2022 2021 Third Quarter $ 343 $ 350 Nine Months $ 1,021 $ 1,057 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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) Sept. 30, 2022 Dec. 31, 2021 Gross Accumulated Net Book Gross Accumulated Net Book Book Value Amortization Value Book Value Amortization Value Customer relationships $ 1,694 $ 617 $ 1,077 $ 1,681 $ 551 $ 1,130 Technology/technical know-how 1,285 658 627 1,264 562 702 Tradenames 759 215 544 766 191 575 Other 1,635 840 795 1,578 774 804 $ 5,373 $ 2,330 $ 3,043 $ 5,289 $ 2,078 $ 3,211 |
Amortization Expense Charged to Income for Intangible Assets | Amortization expense charged to income was as follows: (Stated in millions) 2022 2021 Third Quarter $ 76 $ 75 Nine Months $ 226 $ 226 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | A summary of Long-term Debt (Stated in millions) Sept. 30, Dec. 31, 2022 2021 3.65% Senior Notes due 2023 $ 1,498 $ 1,497 3.90% Senior Notes due 2028 1,462 1,457 2.65% Senior Notes due 2030 1,250 1,250 1.375% Guaranteed Notes due 2026 955 1,125 2.00% Guaranteed Notes due 2032 948 1,118 4.00% Senior Notes due 2025 931 930 0.25% Notes due 2027 860 1,013 0.50% Notes due 2031 858 1,012 4.30% Senior Notes due 2029 846 846 3.75% Senior Notes due 2024 749 748 1.00% Guaranteed Notes due 2026 572 679 1.40% Senior Notes due 2025 499 498 0.00% Notes due 2024 478 563 7.00% Notes due 2038 202 204 5.95% Notes due 2041 113 113 5.13% Notes due 2043 98 98 4.00% Notes due 2023 79 80 3.70% Notes due 2024 54 55 $ 12,452 $ 13,286 |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Derivatives Included in the Consolidated Balance Sheet | . A summary of the fair value of the outstanding cross-currency swap derivatives, which was determined using a model with inputs that are observable in the market or can be derived or corroborated by observable data, included in the Consolidated Balance Sheet (Stated in millions) Sept. 30, 2022 Dec. 31, 2021 Other current assets $ 45 $ - Other assets $ 10 $ 66 Other Liabilities $ 666 $ 78 |
Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of (Loss) Income | The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income (Stated in millions) Gain (Loss) Recognized in Income Third Quarter Nine Months 2022 2021 2022 2021 Consolidated Statement of Income Classification Derivatives designated as cash flow hedges: Cross currency swaps $ (362 ) $ (89 ) $ (653 ) $ (267 ) Cost of services/sales Commodity contracts (20 ) - (85 ) - Revenue Foreign exchange contracts (10 ) 2 (17 ) 7 Cost of services/sales $ (392 ) $ (87 ) $ (755 ) $ (260 ) Derivatives not designated as hedges: Foreign exchange contracts $ 8 $ (45 ) $ (30 ) $ (19 ) Cost of services/sales |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | (Stated in millions) Third Quarter 2022 Third Quarter 2021 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 900 $ 305 $ 812 $ 284 Reservoir Performance 1,456 244 1,192 190 Well Construction 3,084 664 2,273 345 Production Systems 2,150 224 1,674 166 Eliminations & other (113 ) (37 ) (104 ) (77 ) Pretax segment operating income 1,400 908 Corporate & other (1) (155 ) (145 ) Interest income (2) 8 8 Interest expense (3) (119 ) (127 ) Charges and credits (4) - 47 $ 7,477 $ 1,134 $ 5,847 $ 691 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) ( 3 ) ( 4 ) Charges and Credits (Stated in millions) Nine Months 2022 Nine Months 2021 Income Income Revenue Before Taxes Revenue Before Taxes Digital & Integration $ 2,713 $ 976 $ 2,401 $ 805 Reservoir Performance 3,999 598 3,312 448 Well Construction 8,168 1,522 6,319 827 Production Systems 5,647 509 4,946 475 Eliminations & other (314 ) (151 ) (274 ) (176 ) Pretax segment operating income 3,454 2,379 Corporate & other (1) (468 ) (434 ) Interest income (2) 13 17 Interest expense (3) (360 ) (391 ) Charges and credits (4) 285 47 $ 20,213 $ 2,924 $ 16,704 $ 1,618 (1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) (3) (4) Charges and Credits |
Revenue by Geographic Area | Revenue by geographic area was as follows: (Stated in millions) Third Quarter Nine Months 2022 2021 2022 2021 North America $ 1,543 $ 1,129 $ 4,362 $ 3,185 Latin America 1,508 1,160 4,042 3,255 Europe/CIS/Africa 2,039 1,481 5,134 4,190 Middle East & Asia 2,334 2,034 6,525 5,952 Other 53 43 150 122 $ 7,477 $ 5,847 $ 20,213 $ 16,704 |
Summary Of Geographical Segment Revenue Disaggregated By Segment | North America and International revenue disaggregated by segment was as follows: (Stated in millions) Third Quarter 2022 North America International Other Total Digital & Integration $ 229 $ 671 $ - $ 900 Reservoir Performance 119 1,335 2 1,456 Well Construction 621 2,406 57 3,084 Production Systems 578 1,569 3 2,150 Eliminations & other (4 ) (100 ) (9 ) (113 ) $ 1,543 $ 5,881 $ 53 $ 7,477 Third Quarter 2021 North America International Other Total Digital & Integration $ 196 $ 615 $ 1 $ 812 Reservoir Performance 79 1,112 1 1,192 Well Construction 382 1,839 52 2,273 Production Systems 469 1,205 - 1,674 Eliminations & other 3 (96 ) (11 ) (104 ) $ 1,129 $ 4,675 $ 43 $ 5,847 Nine Months 2022 North America International Other Total Digital & Integration $ 781 $ 1,928 $ 4 $ 2,713 Reservoir Performance 333 3,661 5 3,999 Well Construction 1,659 6,354 155 8,168 Production Systems 1,601 4,037 9 5,647 Eliminations & other (12 ) (279 ) (23 ) (314 ) $ 4,362 $ 15,701 $ 150 $ 20,213 Nine Months 2021 North America International Other Total Digital & Integration $ 549 $ 1,850 $ 2 $ 2,401 Reservoir Performance 237 3,072 3 3,312 Well Construction 1,045 5,124 150 6,319 Production Systems 1,347 3,587 12 4,946 Eliminations & other 7 (236 ) (45 ) (274 ) $ 3,185 $ 13,397 $ 122 $ 16,704 |
Charges and Credits - Summary o
Charges and Credits - Summary of Charges and Credits (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2022 | |
Charges And Credits [Line Items] | |||
Charges and credits, Pretax Credit | $ 285 | ||
Charges and credits, Tax Expense | 19 | ||
Charges and credits, Net | $ 266 | ||
Interest And Other | Gain On Sale Of Liberty Shares | |||
Charges And Credits [Line Items] | |||
Charges and credits, Pretax Credit | $ 216 | $ 26 | |
Charges and credits, Tax Expense | 13 | 4 | |
Charges and credits, Net | 203 | $ 22 | |
Interest And Other | Gain On Sale Of Real Estate | |||
Charges And Credits [Line Items] | |||
Charges and credits, Pretax Credit | 43 | ||
Charges and credits, Tax Expense | 2 | ||
Charges and credits, Net | $ 41 |
Charges and Credits - Additiona
Charges and Credits - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | ||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Charges And Credits [Line Items] | |||
Unrealized gain on investments pretax | $ 47 | ||
Unrealized gain on investments after tax | 36 | ||
Investments, fair value | $ 55 | ||
Gain On Sale Of Real Estate | |||
Charges And Credits [Line Items] | |||
Gains on sales of businesses | $ 43 | ||
Sold certain real estate and received proceeds | $ 120 | ||
Liberty Energy Inc | |||
Charges And Credits [Line Items] | |||
Shares issued | 26.5 | 7.2 | |
Received proceeds from sale of shares | $ 429 | $ 84 | |
Gains on sales of businesses | $ 216 | $ 26 | |
Percentage of equity ownership interest | 12% |
Earnings Per Share - Reconcilia
Earnings Per Share - Reconciliation of Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net Income Attributable to Schlumberger | ||||
Basic | $ 907 | $ 550 | $ 2,377 | $ 1,280 |
Diluted | $ 907 | $ 550 | $ 2,377 | $ 1,280 |
Average Shares Outstanding | ||||
Basic | 1,418 | 1,402 | 1,414 | 1,399 |
Unvested restricted stock | 21 | 22 | 22 | 23 |
Diluted | 1,439 | 1,424 | 1,436 | 1,422 |
Earnings per Share | ||||
Basic | $ 0.64 | $ 0.39 | $ 1.68 | $ 0.92 |
Diluted | $ 0.63 | $ 0.39 | $ 1.65 | $ 0.90 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Income Per Share (Detail) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Employee Stock Options | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 37 | 43 | 31 | 43 |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Raw materials & field materials | $ 2,123 | $ 1,594 |
Work in progress | 604 | 425 |
Finished goods | 1,416 | 1,253 |
Inventories | $ 4,143 | $ 3,272 |
Fixed Assets - Summary of Fixed
Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Property Plant And Equipment [Abstract] | ||
Property, plant & equipment | $ 28,260 | $ 29,077 |
Less: Accumulated depreciation | 21,853 | 22,648 |
Fixed assets less accumulated depreciation | $ 6,407 | $ 6,429 |
Fixed Assets - Depreciation Exp
Fixed Assets - Depreciation Expense Relating to Fixed Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Property Plant And Equipment [Abstract] | ||||
Depreciation expense relating to fixed assets | $ 343 | $ 350 | $ 1,021 | $ 1,057 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | $ 5,373 | $ 5,289 |
Accumulated Amortization | 2,330 | 2,078 |
Net Book Value | 3,043 | 3,211 |
Customer Relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,694 | 1,681 |
Accumulated Amortization | 617 | 551 |
Net Book Value | 1,077 | 1,130 |
Technology/Technical Know-How | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,285 | 1,264 |
Accumulated Amortization | 658 | 562 |
Net Book Value | 627 | 702 |
Tradenames | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 759 | 766 |
Accumulated Amortization | 215 | 191 |
Net Book Value | 544 | 575 |
Other | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,635 | 1,578 |
Accumulated Amortization | 840 | 774 |
Net Book Value | $ 795 | $ 804 |
Intangible Assets - Amortizatio
Intangible Assets - Amortization Expense Charged to Income for Intangible Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Third Quarter | $ 76 | $ 75 | $ 226 | $ 226 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) $ in Millions | Sep. 30, 2022 USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Estimated amortization expense, remaining two quarters of 2022 | $ 72 |
Estimated amortization expense, 2023 | 288 |
Estimated amortization expense, 2024 | 278 |
Estimated amortization expense, 2025 | 263 |
Estimated amortization expense, 2026 | 254 |
Estimated amortization expense, 2027 | $ 252 |
Long-term Debt - Summary of Lon
Long-term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 12,452 | $ 13,286 |
3.65% Senior Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,498 | 1,497 |
3.90% Senior Notes due 2028 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,462 | 1,457 |
2.65% Senior Notes due 2030 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,250 | 1,250 |
1.375% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 955 | 1,125 |
2.0% Guaranteed Notes due 2032 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 948 | 1,118 |
0.25% Notes due 2027 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 860 | 1,013 |
0.50% Notes due 2031 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 858 | 1,012 |
4.30% Senior Notes due 2029 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 846 | 846 |
3.75% Senior Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 749 | 748 |
1.40% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 499 | 498 |
1.00% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 572 | 679 |
0.00% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 478 | 563 |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 931 | 930 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 202 | 204 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 113 | 113 |
5.13% Notes due 2043 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 98 | 98 |
4.00% Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 79 | 80 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 54 | $ 55 |
Long-term Debt - Summary of L_2
Long-term Debt - Summary of Long-term Debt (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
3.65% Senior Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.65% | 3.65% |
Debt instrument maturity date | 2023 | 2023 |
3.90% Senior Notes due 2028 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.90% | 3.90% |
Debt instrument maturity date | 2028 | 2028 |
2.65% Senior Notes due 2030 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 2.65% | 2.65% |
Debt instrument maturity date | 2030 | 2030 |
1.375% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 1.375% | 1.375% |
Debt instrument maturity date | 2026 | 2026 |
2.0% Guaranteed Notes due 2032 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 2% | 2% |
Debt instrument maturity date | 2032 | 2032 |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4% | 4% |
Debt instrument maturity date | 2025 | 2025 |
0.25% Notes due 2027 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 0.25% | 0.25% |
Debt instrument maturity date | 2027 | 2027 |
0.50% Notes due 2031 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 0.50% | 0.50% |
Debt instrument maturity date | 2031 | 2031 |
4.30% Senior Notes due 2029 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.30% | 4.30% |
Debt instrument maturity date | 2029 | 2029 |
3.75% Senior Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.75% | 3.75% |
Debt instrument maturity date | 2024 | 2024 |
1.00% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 1% | 1% |
Debt instrument maturity date | 2026 | 2026 |
1.40% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 1.40% | 1.40% |
Debt instrument maturity date | 2025 | 2025 |
0.00% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 0% | 0% |
Debt instrument maturity date | 2024 | 2024 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 7% | 7% |
Debt instrument maturity date | 2038 | 2038 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.95% | 5.95% |
Debt instrument maturity date | 2041 | 2041 |
5.13% Notes due 2043 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.13% | 5.13% |
Debt instrument maturity date | 2043 | 2043 |
4.00% Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4% | 4% |
Debt instrument maturity date | 2023 | 2023 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.70% | 3.70% |
Debt instrument maturity date | 2024 | 2024 |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) € in Millions, $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2022 EUR (€) | Dec. 31, 2021 USD ($) | |
Debt Instrument [Line Items] | |||
Long-term debt, fair value | $ 11,200 | $ 13,900 | |
Committed credit facility agreement aggregated | 5,750 | ||
Commercial paper programs mature in February 2024 | |||
Debt Instrument [Line Items] | |||
Committed credit facility agreement aggregated | 750 | ||
Commercial paper programs mature in February 2025 | |||
Debt Instrument [Line Items] | |||
Committed credit facility agreement aggregated | 2,000 | ||
Commercial paper programs mature in February 2027 | |||
Debt Instrument [Line Items] | |||
Committed credit facility agreement aggregated | 2,000 | ||
Commercial paper programs mature in July 2026 | |||
Debt Instrument [Line Items] | |||
Committed credit facility agreement aggregated | 1,000 | ||
Commercial paper borrowings | |||
Debt Instrument [Line Items] | |||
Long-term debt | $ 0 | $ 0 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Credit facility extended period | 3 years | ||
Credit facility extended date | Jun. 30, 2024 | ||
Reduced size of credit facility | € | € 750 | ||
Credit facility drawn | $ 0 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Dec. 31, 2021 USD ($) | Jun. 30, 2022 | Sep. 30, 2022 USD ($) Country | Dec. 31, 2020 USD ($) | Dec. 31, 2020 EUR (€) | Dec. 31, 2019 EUR (€) | |
Derivative [Line Items] | ||||||
Number of countries in which Schlumberger generates revenue | Country | 120 | |||||
Denominated debt issued | $ 500,000,000 | € 1,500,000,000 | ||||
Percentage of derivative contracts of oil price | 75% | 30% | ||||
Amount recognized relating to hedging activity | $ | $ 6,000,000 | |||||
Derivative assets | $ | $ 8,000,000 | |||||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other current assets | |||||
Fair value of outstanding derivatives | $ | $ 0 | $ 0 | ||||
0.00% Notes due 2024 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | € 500,000,000 | |||||
Derivative swap interest rate | 0% | |||||
Promissory note interest rate | 0% | 0% | ||||
0.25% Notes due 2027 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | € 400,000,000 | € 500,000,000 | ||||
Derivative swap interest rate | 0.25% | 0.25% | 0.25% | |||
Promissory note interest rate | 0.25% | 0.25% | ||||
0.50% Notes due 2031 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | € 400,000,000 | € 500,000,000 | ||||
Derivative swap interest rate | 0.50% | 0.50% | 0.50% | |||
Promissory note interest rate | 0.50% | 0.50% | ||||
Euro-denominated Notes | ||||||
Derivative [Line Items] | ||||||
Denominated debt issued | € 800,000,000 | |||||
Euro-denominated Guaranteed Notes | ||||||
Derivative [Line Items] | ||||||
Denominated debt issued | 2,000,000,000 | |||||
1.375% Guaranteed Notes due 2026 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | € 1,000,000,000 | |||||
Derivative swap interest rate | 1.375% | 1.375% | ||||
2.00% Guaranteed Notes due 2032 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | € 1,000,000,000 | |||||
Derivative swap interest rate | 2% | 2% | ||||
1.40% Senior Notes due 2025 | ||||||
Derivative [Line Items] | ||||||
Notes, face amount | $ | $ 500,000,000 | |||||
Derivative swap interest rate | 1.40% | 1.40% | ||||
Promissory note interest rate | 1.40% | 1.40% | ||||
Cross currency swaps | ||||||
Derivative [Line Items] | ||||||
Notional amount of interest rate swap | $ 500,000,000 | € 1,500,000,000 | ||||
Derivative assets | $ | $ 66,000,000 | $ 10,000,000 | ||||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other current assets | Other current assets | ||||
Cross currency swaps | 0.00% Notes due 2024 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 2.29% | |||||
Cross currency swaps | 0.25% Notes due 2027 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 1.87% | 1.87% | 2.51% | |||
Cross currency swaps | 0.50% Notes due 2031 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 2.20% | 2.20% | 2.76% | |||
Cross currency swaps | Euro-denominated Notes | ||||||
Derivative [Line Items] | ||||||
Notional amount of interest rate swap | € 800,000,000 | |||||
Cross currency swaps | Euro-denominated Guaranteed Notes | ||||||
Derivative [Line Items] | ||||||
Notional amount of interest rate swap | € 2,000,000,000 | |||||
Cross currency swaps | 1.375% Guaranteed Notes due 2026 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 2.77% | 2.77% | ||||
Cross currency swaps | 2.00% Guaranteed Notes due 2032 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 3.49% | 3.49% | ||||
Cross currency swaps | 1.40% Senior Notes due 2025 | ||||||
Derivative [Line Items] | ||||||
Promissory note interest rate | 1.73% | 1.73% | ||||
Foreign exchange contracts | ||||||
Derivative [Line Items] | ||||||
Notional amount of interest rate swap | $ | $ 7,200,000,000 | |||||
Foreign exchange contracts | Debt | Derivatives designated as hedges | ||||||
Derivative [Line Items] | ||||||
Notional amount of interest rate swap | $ | $ 5,200,000,000 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Summary of Derivatives Included in the Consolidated Balance Sheet (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other current assets | |
Derivative assets | $ 8 | |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets |
Other Liabilities, Noncurrent | Other Liabilities | Other Liabilities |
Cross currency swaps | ||
Derivative [Line Items] | ||
Derivative assets | $ 45 | |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other current assets | Other current assets |
Derivative assets | $ 10 | $ 66 |
Derivative liability | $ 666 | $ 78 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities - Effect of Derivative Instruments Designated as Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of Income (Loss) (Detail) - Cash Flow Hedging - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Derivatives designated as hedges | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ (392) | $ (87) | $ (755) | $ (260) |
Derivatives designated as hedges | Cross currency swaps | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ (362) | $ (89) | $ (653) | $ (267) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of services and sales | Cost of services and sales | Cost of services and sales | Cost of services and sales |
Derivatives designated as hedges | Commodity contracts | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ (20) | $ (85) | ||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Total Revenue | Total Revenue | Total Revenue | Total Revenue |
Derivatives designated as hedges | Foreign exchange contracts | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ (10) | $ 2 | $ (17) | $ 7 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of services and sales | Cost of services and sales | Cost of services and sales | Cost of services and sales |
Derivatives not designated as hedges | Foreign exchange contracts | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ 8 | $ (45) | $ (30) | $ (19) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of services and sales | Cost of services and sales | Cost of services and sales | Cost of services and sales |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | $ 7,477 | $ 5,847 | $ 20,213 | $ 16,704 | |||||
Pretax segment operating income | 1,400 | 908 | 3,454 | 2,379 | |||||
Interest expense | 122 | 130 | 369 | 402 | |||||
Income Before Taxes | 1,134 | 691 | 2,924 | 1,618 | |||||
Digital Integration | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 900 | 812 | 2,713 | 2,401 | |||||
Reservoir Performance | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 1,456 | 1,192 | 3,999 | 3,312 | |||||
Production Systems | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 2,150 | 1,674 | 5,647 | 4,946 | |||||
Operating Segments | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 7,477 | 5,847 | 20,213 | 16,704 | |||||
Interest income | 25 | 53 | 1 | ||||||
Interest expense | 3 | 3 | 9 | 11 | |||||
Operating Segments | Digital Integration | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 900 | 812 | 2,713 | 2,401 | |||||
Pretax segment operating income | 305 | 284 | 976 | 805 | |||||
Operating Segments | Reservoir Performance | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 1,456 | 1,192 | 3,999 | 3,312 | |||||
Pretax segment operating income | 244 | 190 | 598 | 448 | |||||
Operating Segments | Well Construction | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 3,084 | 2,273 | 8,168 | 6,319 | |||||
Pretax segment operating income | 664 | 345 | 1,522 | 827 | |||||
Operating Segments | Production Systems | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 2,150 | 1,674 | 5,647 | 4,946 | |||||
Pretax segment operating income | 224 | 166 | 509 | 475 | |||||
Eliminations & other | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | (113) | (104) | (314) | (274) | |||||
Pretax segment operating income | (37) | (77) | (151) | (176) | |||||
Corporate & other | [1] | (155) | (145) | (468) | (434) | ||||
Interest income | 8 | [2] | 8 | [2] | 13 | [3] | 17 | [3] | |
Interest expense | $ (119) | [4] | (127) | [4] | (360) | [5] | (391) | [5] | |
Charges and credits | [6] | $ 47 | $ 285 | $ 47 | |||||
[1]Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.[2]Interest income excludes amounts which are included in the segments’ income ($25 million in 2022; $- million in 2021).[3]Interest income excludes amounts which are included in the segments’ income ($53 million in 2022; $1 million in 2021).[4]Interest expense excludes amounts which are included in the segments’ income ($3 million in 2022; $3 million in 2021).[5]Interest expense excludes amounts which are included in the segments’ income ($9 million in 2022; $11 million in 2021).[6]See Note 2 – Charges and Credits |
Segment Information - Schedul_2
Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Interest expense | $ 122 | $ 130 | $ 369 | $ 402 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 25 | 53 | 1 | |
Interest expense | $ 3 | $ 3 | $ 9 | $ 11 |
Segment Information - Revenue b
Segment Information - Revenue by Geographic Area (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 7,477 | $ 5,847 | $ 20,213 | $ 16,704 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 7,477 | 5,847 | 20,213 | 16,704 |
Operating Segments | North America | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,543 | 1,129 | 4,362 | 3,185 |
Operating Segments | Latin America | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,508 | 1,160 | 4,042 | 3,255 |
Operating Segments | Europe/CIS/Africa | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,039 | 1,481 | 5,134 | 4,190 |
Operating Segments | Middle East & Asia | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,334 | 2,034 | 6,525 | 5,952 |
Operating Segments | Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 53 | $ 43 | $ 150 | $ 122 |
Segment Information - Summary o
Segment Information - Summary of North America and International Revenue Disaggregated by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 7,477 | $ 5,847 | $ 20,213 | $ 16,704 |
Digital Integration | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 900 | 812 | 2,713 | 2,401 |
Reservoir Performance | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,456 | 1,192 | 3,999 | 3,312 |
Well Construction | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,084 | 2,273 | 8,168 | 6,319 |
Production Systems | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,150 | 1,674 | 5,647 | 4,946 |
Eliminations & Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (113) | (104) | (314) | (274) |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 7,477 | 5,847 | 20,213 | 16,704 |
Operating Segments | Digital Integration | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 900 | 812 | 2,713 | 2,401 |
Operating Segments | Reservoir Performance | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,456 | 1,192 | 3,999 | 3,312 |
Operating Segments | Production Systems | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,150 | 1,674 | 5,647 | 4,946 |
North America | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,543 | 1,129 | 4,362 | 3,185 |
North America | Operating Segments | Digital Integration | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 229 | 196 | 781 | 549 |
North America | Operating Segments | Reservoir Performance | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 119 | 79 | 333 | 237 |
North America | Operating Segments | Well Construction | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 621 | 382 | 1,659 | 1,045 |
North America | Operating Segments | Production Systems | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 578 | 469 | 1,601 | 1,347 |
North America | Operating Segments | Eliminations & Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (4) | 3 | (12) | 7 |
International | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,881 | 4,675 | 15,701 | 13,397 |
International | Operating Segments | Digital Integration | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 671 | 615 | 1,928 | 1,850 |
International | Operating Segments | Reservoir Performance | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,335 | 1,112 | 3,661 | 3,072 |
International | Operating Segments | Well Construction | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,406 | 1,839 | 6,354 | 5,124 |
International | Operating Segments | Production Systems | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,569 | 1,205 | 4,037 | 3,587 |
International | Operating Segments | Eliminations & Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (100) | (96) | (279) | (236) |
Other | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 53 | 43 | 150 | 122 |
Other | Operating Segments | Digital Integration | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1 | 4 | 2 | |
Other | Operating Segments | Reservoir Performance | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2 | 1 | 5 | 3 |
Other | Operating Segments | Well Construction | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 57 | 52 | 155 | 150 |
Other | Operating Segments | Production Systems | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3 | 9 | 12 | |
Other | Operating Segments | Eliminations & Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ (9) | $ (11) | $ (23) | $ (45) |
Segment Information - Additiona
Segment Information - Additional Information (Detail) - USD ($) $ in Billions | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Segment Reporting [Abstract] | ||
Revenue in excess of billings | $ 0.2 | $ 0.2 |
Total backlog | $ 2.9 | |
Percentage of revenue expected to be recognized over next 12 months | 60% | |
Billings and cash collections in excess of revenue | $ 1.2 | $ 1.1 |