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Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information

12.   Segment Information

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2020

 

 

Third Quarter 2019

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Before

 

 

 

 

 

 

Before

 

 

Revenue

 

 

Taxes

 

 

Revenue

 

 

Taxes

 

Reservoir Characterization

$

1,010

 

 

$

169

 

 

$

1,651

 

 

$

360

 

Drilling

 

1,519

 

 

 

144

 

 

 

2,469

 

 

 

306

 

Production

 

1,801

 

 

 

227

 

 

 

3,153

 

 

 

288

 

Cameron

 

965

 

 

 

60

 

 

 

1,363

 

 

 

173

 

Eliminations & other

 

(37

)

 

 

(25

)

 

 

(95

)

 

 

(31

)

 

 

 

 

 

 

575

 

 

 

 

 

 

 

1,096

 

Corporate & other (1)

 

 

 

 

 

(151

)

 

 

 

 

 

 

(231

)

Interest income (2)

 

 

 

 

 

3

 

 

 

 

 

 

 

7

 

Interest expense (3)

 

 

 

 

 

(131

)

 

 

 

 

 

 

(151

)

Charges and credits (4)

 

 

 

 

 

(350

)

 

 

 

 

 

 

(12,692

)

 

$

5,258

 

 

$

(54

)

 

$

8,541

 

 

$

(11,971

)

 

 

(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 ($- million in 2020; $1 million in 2019).

(3)

Interest expense excludes amounts which are included in the segments’ income ($7 million in 2020; $9 million in 2019).

(4)

See Note 2 – Charges and Credits.

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2020

 

 

Nine Months 2019

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Income (Loss)

 

 

 

 

 

 

Before

 

 

 

 

 

 

Before

 

 

Revenue

 

 

Taxes

 

 

Revenue

 

 

Taxes

 

Reservoir Characterization

$

3,372

 

 

$

538

 

 

$

4,669

 

 

$

959

 

Drilling

 

5,540

 

 

 

594

 

 

 

7,275

 

 

 

914

 

Production

 

6,119

 

 

 

464

 

 

 

9,120

 

 

 

740

 

Cameron

 

3,235

 

 

 

262

 

 

 

3,949

 

 

 

486

 

Eliminations & other

 

(197

)

 

 

(111

)

 

 

(324

)

 

 

(127

)

 

 

 

 

 

 

1,747

 

 

 

 

 

 

 

2,972

 

Corporate & other (1)

 

 

 

 

 

(548

)

 

 

 

 

 

 

(742

)

Interest income (2)

 

 

 

 

 

25

 

 

 

 

 

 

 

25

 

Interest expense (3)

 

 

 

 

 

(397

)

 

 

 

 

 

 

(433

)

Charges and credits (4)

 

 

 

 

 

(12,596

)

 

 

 

 

 

 

(12,692

)

 

$

18,069

 

 

$

(11,769

)

 

$

24,689

 

 

$

(10,870

)

 

Certain prior period amounts have been reclassified to conform to the current period presentation.

(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 ($1 million in 2020; $6 million in 2019).

(3)

Interest expense excludes amounts which are included in the segments’ income ($22 million in 2020; $29 million in 2019).

(4)

See Note 2 – Charges and Credits.

 

Revenue by geographic area was as follows:

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter

 

 

Nine Months

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

North America

$

1,157

 

 

$

2,850

 

 

$

4,620

 

 

$

8,389

 

Latin America

 

707

 

 

 

1,014

 

 

 

2,195

 

 

 

3,121

 

Europe/CIS/Africa

 

1,397

 

 

 

2,062

 

 

 

4,597

 

 

 

5,665

 

Middle East & Asia

 

1,987

 

 

 

2,553

 

 

 

6,559

 

 

 

7,343

 

Eliminations & other

 

10

 

 

 

62

 

 

 

98

 

 

 

171

 

 

$

5,258

 

 

$

8,541

 

 

$

18,069

 

 

$

24,689

 

 

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

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2020

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

143

 

 

$

863

 

 

$

4

 

 

$

1,010

 

Drilling

 

226

 

 

 

1,265

 

 

 

28

 

 

 

1,519

 

Production

 

462

 

 

 

1,338

 

 

 

1

 

 

 

1,801

 

Cameron

 

326

 

 

 

646

 

 

 

(7

)

 

 

965

 

Other

 

-

 

 

 

(21

)

 

 

(16

)

 

 

(37

)

 

$

1,157

 

 

$

4,091

 

 

$

10

 

 

$

5,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter 2019

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

299

 

 

$

1,347

 

 

$

5

 

 

$

1,651

 

Drilling

 

552

 

 

 

1,861

 

 

 

56

 

 

 

2,469

 

Production

 

1,426

 

 

 

1,726

 

 

 

1

 

 

 

3,153

 

Cameron

 

589

 

 

 

772

 

 

 

2

 

 

 

1,363

 

Other

 

(16

)

 

 

(77

)

 

 

(2

)

 

 

(95

)

 

$

2,850

 

 

$

5,629

 

 

$

62

 

 

$

8,541

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2020

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

508

 

 

$

2,851

 

 

$

13

 

 

$

3,372

 

Drilling

 

1,018

 

 

 

4,404

 

 

 

118

 

 

 

5,540

 

Production

 

1,937

 

 

 

4,180

 

 

 

2

 

 

 

6,119

 

Cameron

 

1,173

 

 

 

2,048

 

 

 

14

 

 

 

3,235

 

Other

 

(16

)

 

 

(132

)

 

 

(49

)

 

 

(197

)

 

$

4,620

 

 

$

13,351

 

 

$

98

 

 

$

18,069

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months 2019

 

 

North

 

 

 

 

 

 

Eliminations

 

 

 

 

 

 

America

 

 

International

 

 

& other

 

 

Total

 

Reservoir Characterization

$

756

 

 

$

3,898

 

 

$

15

 

 

$

4,669

 

Drilling

 

1,680

 

 

 

5,435

 

 

 

160

 

 

 

7,275

 

Production

 

4,218

 

 

 

4,900

 

 

 

2

 

 

 

9,120

 

Cameron

 

1,771

 

 

 

2,146

 

 

 

32

 

 

 

3,949

 

Other

 

(36

)

 

 

(250

)

 

 

(38

)

 

 

(324

)

 

$

8,389

 

 

$

16,129

 

 

$

171

 

 

$

24,689

 

 

 

Revenue in excess of billings related to contracts where revenue is recognized over time was $0.2 billion at both September 30, 2020 and December 31, 2019.  Such amounts are included within Receivables less allowance for doubtful accounts in the Consolidated Balance Sheet.

Due to the nature of its business, Schlumberger does not have significant backlog.  Total backlog was $2.7 billion at September 30, 2020, of which approximately 65% is expected to be recognized as revenue over the next 12 months.

Billings and cash collections in excess of revenue was $1.0 billion at September 30, 2020 and $0.9 billion at December 31, 2019.  Such amounts are included within Accounts payable and accrued liabilities in the Consolidated Balance Sheet.