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Leases and Lease Commitments | 12 Months Ended
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Dec. 31, 2018
Leases [Abstract] |
Leases and Lease Commitments | 15. Leases and Lease Commitments During the fourth quarter of 2018, Schlumberger adopted ASU No. 2016-02, Leases, effective January 1, 2018. This ASU requires lessees to recognize an operating lease asset and a lease liability on the balance sheet, with the exception of short-term leases. Under the transition method selected by Schlumberger, leases existing at, or entered into after, January 1, 2018 were required to be recognized and measured. Prior period amounts have not been adjusted and continue to be reflected in accordance with Schlumberger’s historical accounting. The adoption of this standard resulted in the recording of operating lease assets and operating lease liabilities of approximately of $1.3 billion as of January 1, 2018, with no related impact on Schlumberger’s Consolidated Statement of Equity or Consolidated Statement of Income (Loss). Short-term leases have not been recorded on the balance sheet. Schlumberger elected the package of practical expedients permitted under the transition guidance within the new standard which, among other things, allows companies to carry forward their historical lease classification. Schlumberger’s leasing activities primarily consist of operating leases for administrative offices, manufacturing facilities, research centers, service centers, sales offices and certain equipment. Total operating lease expense, which approximates cash paid and includes short-term leases, was $1.7 billion in 2018, $1.4 billion in 2017, and $1.2 billion in 2016. Future minimum rental commitments under noncancelable operating leases as of December 31, 2017 were as follows:
(Stated in millions) |
2018 | $ | 284 |
2019 |  | 244 |
2020 |  | 203 |
2021 |  | 164 |
2022 |  | 127 |
Thereafter |  | 410 |
| $ | 1,432 |
Maturities of operating lease liabilities as of December 31, 2018 were as follows:
(Stated in millions) |
2019 | $ | 568 |
2020 |  | 486 |
2021 |  | 246 |
2022 |  | 161 |
2023 |  | 132 |
Thereafter |  | 392 |
Total lease payments | $ | 1,985 |
Less: Interest |  | (209 | )
| $ | 1,776 |
Amounts recognized in Balance Sheet |  |  |
Accounts payable and accrued liabilities | $ | 551 |
Other Liabilities |  | 1,225 |
| $ | 1,776 |
Operating lease assets of $1.8 billion as of December 31, 2018 were included in Other Assets in the Consolidated Balance Sheet. The weighted-average remaining lease term as of December 31, 2018 was 7 years. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2018 was 3.2%.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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- References No definition available. + Details
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