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Long-term Debt and Debt Facility Agreements
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Long-term Debt and Debt Facility Agreements

8. Long-term Debt and Debt Facility Agreements

Long-term Debt consists of the following:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

3.65% Senior Notes due 2023

$

1,497

 

 

$

1,496

 

3.90% Senior Notes due 2028

 

1,457

 

 

 

1,450

 

2.65% Senior Notes due 2030

 

1,250

 

 

 

1,250

 

1.375% Guaranteed Notes due 2026

 

1,125

 

 

 

1,221

 

2.00% Guaranteed Notes due 2032

 

1,118

 

 

 

1,214

 

0.25% Notes due 2027

 

1,013

 

 

 

1,100

 

0.50% Notes due 2031

 

1,012

 

 

 

1,099

 

4.00% Senior Notes due 2025

 

930

 

 

 

930

 

4.30% Senior Notes due 2029

 

846

 

 

 

846

 

3.75% Senior Notes due 2024

 

748

 

 

 

746

 

1.00% Guaranteed Notes due 2026

 

679

 

 

 

736

 

0.00% Notes due 2024

 

563

 

 

 

611

 

1.40% Senior Notes due 2025

 

498

 

 

 

498

 

7.00% Notes due 2038

 

204

 

 

 

206

 

5.95% Notes due 2041

 

113

 

 

 

114

 

5.13% Notes due 2043

 

98

 

 

 

99

 

4.00% Notes due 2023

 

80

 

 

 

80

 

3.70% Notes due 2024

 

55

 

 

 

55

 

3.63% Senior Notes due 2022

 

-

 

 

 

295

 

2.65% Senior Notes due 2022

 

-

 

 

 

598

 

2.40% Senior Notes due 2022

 

-

 

 

 

999

 

Commercial paper borrowings

 

-

 

 

 

393

 

 

$

13,286

 

 

$

16,036

 

At December 31, 2021, Schlumberger had committed credit facility agreements with commercial banks aggregating $5.75 billion, all of which was available and unused.  These committed facilities support commercial paper programs in the United States and Europe,

of which $2.75 billion matures in February 2023, $2.0 billion matures in February 2025 and $1.0 billion matures in July 2026.  Schlumberger also has a €750 million three-year committed revolving credit facility that matures in June 2024.  At December 31, 2021, no amounts had been drawn under this facility. Interest rates and other terms of borrowing under these lines of credit vary by facility.

Commercial paper borrowings are classified as long-term debt to the extent they are backed up by available and unused committed credit facilities maturing in more than one year and to the extent it is Schlumberger’s intent to maintain these obligations for longer than one year.  There were no borrowings under the commercial paper programs at December 31, 2021.  At December 31, 2020, borrowings under the commercial paper programs were $0.4 billion, all of which was classified in Long-term Debt in the Consolidated Balance Sheet.  

Long-term Debt as of December 31, 2021 is due as follows:  $1.6 billion in 2023, $1.4 billion in 2024, $1.4 billion in 2025, $1.8 billion in 2026, $1.0 billion in 2027, $1.5 billion in 2028 and $4.6 billion thereafter.

The fair value of Schlumberger’s Long-term Debt at December 31, 2021 and December 31, 2020 was $13.9 billion and $17.3 billion, respectively, and was estimated based on quoted market prices.

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 Limited.