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Segment Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | 15. Segment Information SLB is organized under four Divisions that combine and integrate SLB’s technologies, enhancing the Company’s ability to support the emerging long-term growth opportunities in each of these market segments. The four Divisions, representing SLB’s segments, are:
| • | Digital & Integration – Combines SLB’s industry-leading digital solutions and data products with its integrated offering of Asset Performance Solutions.
| • | Reservoir Performance – Consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance.
| • | Well Construction – Combines the full portfolio of products and services to optimize well placement and performance, maximize drilling efficiency, and improve wellbore assurance.
| • | Production Systems – Develops technologies and provides expertise that enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries.
Financial information by segment is as follows:
|  |  |  |  | (Stated in millions) |
| 2022 |
|  |  |  |  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |  |
|  |  |  |  | Pretax |  |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 3,725 |  |  | $ | 1,357 |  |  | $ | 3,132 |  |  | $ | 504 |  |  | $ | 689 |
Reservoir Performance |  | 5,553 |  |  |  | 881 |  |  |  | 3,159 |  |  |  | 386 |  |  |  | 478 |
Well Construction |  | 11,397 |  |  |  | 2,202 |  |  |  | 6,481 |  |  |  | 524 |  |  |  | 687 |
Production Systems |  | 7,862 |  |  |  | 748 |  |  |  | 5,603 |  |  |  | 311 |  |  |  | 346 |
Eliminations & other |  | (446 | ) |  |  | (177 | ) |  |  | 1,426 |  |  |  | 271 |  |  |  | 102 |
Pretax segment operating income |  |  |  |  |  | 5,011 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and intangible assets |  |  |  |  |  |  |  |  |  | 15,974 |  |  |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  |  |  | 2,897 |  |  |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  |  |  | 4,463 |  |  |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  |  | (637 | ) |  |  |  |  |  |  | 151 |  |  |  |  |
Interest income (2) |  |  |  |  |  | 27 |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  |  | (477 | ) |  |  |  |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  |  | 347 |  |  |  |  |  |  |  |  |  |  |  |  |
| $ | 28,091 |  |  | $ | 4,271 |  |  | $ | 43,135 |  |  | $ | 2,147 |  |  | $ | 2,302 |
|  |  |  |  | (Stated in millions) |
| 2021 |
|  |  |  |  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |  |
|  |  |  |  | Pretax |  |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 3,290 |  |  | $ | 1,141 |  |  | $ | 3,134 |  |  | $ | 446 |  |  | $ | 516 |
Reservoir Performance |  | 4,599 |  |  |  | 648 |  |  |  | 2,923 |  |  |  | 415 |  |  |  | 348 |
Well Construction |  | 8,706 |  |  |  | 1,195 |  |  |  | 4,714 |  |  |  | 537 |  |  |  | 424 |
Production Systems |  | 6,710 |  |  |  | 634 |  |  |  | 4,684 |  |  |  | 302 |  |  |  | 267 |
Eliminations & other |  | (376 | ) |  |  | (253 | ) |  |  | 1,501 |  |  |  | 269 |  |  |  | 99 |
Pretax segment operating income |  |  |  |  |  | 3,365 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and intangible assets |  |  |  |  |  |  |  |  |  | 16,201 |  |  |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  |  |  | 3,139 |  |  |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  |  |  | 5,215 |  |  |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  |  | (573 | ) |  |  |  |  |  |  | 151 |  |  |  |  |
Interest income (2) |  |  |  |  |  | 31 |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  |  | (514 | ) |  |  |  |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  |  | 65 |  |  |  |  |  |  |  |  |  |  |  |  |
| $ | 22,929 |  |  | $ | 2,374 |  |  | $ | 41,511 |  |  | $ | 2,120 |  |  | $ | 1,654 |
|  |  |  |  | (Stated in millions) |
| 2020 |
|  |  |  |  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |  |
|  |  |  |  | Pretax |  |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income (Loss) |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 3,067 |  |  | $ | 727 |  |  | $ | 3,595 |  |  | $ | 615 |  |  | $ | 413 |
Reservoir Performance |  | 5,602 |  |  |  | 353 |  |  |  | 3,489 |  |  |  | 549 |  |  |  | 384 |
Well Construction |  | 8,614 |  |  |  | 870 |  |  |  | 4,768 |  |  |  | 580 |  |  |  | 420 |
Production Systems |  | 6,650 |  |  |  | 623 |  |  |  | 4,665 |  |  |  | 338 |  |  |  | 240 |
Eliminations & other |  | (332 | ) |  |  | (172 | ) |  |  | 940 |  |  |  | 276 |  |  |  | 63 |
Pretax segment operating income |  |  |  |  |  | 2,401 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and intangible assets |  |  |  |  |  |  |  |  |  | 16,436 |  |  |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  |  |  | 3,006 |  |  |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  |  |  | 5,535 |  |  |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  |  | (681 | ) |  |  |  |  |  |  | 208 |  |  |  |  |
Interest income (2) |  |  |  |  |  | 31 |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  |  | (534 | ) |  |  |  |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  |  | (12,515 | ) |  |  |  |  |  |  |  |  |  |  |  |
| $ | 23,601 |  |  | $ | (11,298 | ) |  | $ | 42,434 |  |  | $ | 2,566 |  |  | $ | 1,520 |
(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 (2022: $72 million; 2021: $2 million; 2020: $2 million).
(3) | Interest expense excludes amounts which are included in the segments’ income (2022: $13 million; 2021: $15 million; 2020: $28 million) and $10 million interest expense included in Charges & credits in 2021.
(4) | See Note 3 – Charges and Credits.
Segment assets consist of receivables, inventories, fixed assets, exploration data and APS investments. Capital investments includes capital expenditures, APS investments and exploration data cost capitalized. Depreciation and amortization includes depreciation of property, plant and equipment and amortization of intangible assets, exploration data costs and APS investments. Revenue by geographic area for the years ended December 31, 2022, 2021 and 2020 was as follows:
(Stated in millions) |
| 2022 |  |  | 2021 |  |  | 2020 |
North America | $ | 5,995 |  |  | $ | 4,466 |  |  | $ | 5,478 |
Latin America |  | 5,661 |  |  |  | 4,459 |  |  |  | 3,472 |
Europe/CIS/Africa |  | 7,201 |  |  |  | 5,778 |  |  |  | 5,963 |
Middle East & Asia |  | 9,033 |  |  |  | 8,059 |  |  |  | 8,567 |
Eliminations & other |  | 201 |  |  |  | 167 |  |  |  | 121 |
| $ | 28,091 |  |  | $ | 22,929 |  |  | $ | 23,601 |
Revenue is based on the location where services are provided and products are sold. During each of the three years ended December 31, 2022, 2021 and 2020, no single customer exceeded 10% of consolidated revenue. SLB did not have revenue from third-party customers in its country of domicile during the last three years. Revenue in the United States in 2022, 2021 and 2020 was $4.6 billion, $3.4 billion and $4.5 billion, respectively. North America and International revenue disaggregated by segment was as follows:
(Stated in millions) |
| 2022 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 1,069 |  |  | $ | 2,651 |  |  | $ | 5 |  |  | $ | 3,725 |
Reservoir Performance |  | 455 |  |  |  | 5,091 |  |  |  | 7 |  |  |  | 5,553 |
Well Construction |  | 2,311 |  |  |  | 8,875 |  |  |  | 211 |  |  |  | 11,397 |
Production Systems |  | 2,176 |  |  |  | 5,675 |  |  |  | 11 |  |  |  | 7,862 |
Eliminations & other |  | (16 | ) |  |  | (397 | ) |  |  | (33 | ) |  |  | (446 | )
| $ | 5,995 |  |  | $ | 21,895 |  |  | $ | 201 |  |  | $ | 28,091 |
(Stated in millions) |
| 2021 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 812 |  |  | $ | 2,474 |  |  | $ | 4 |  |  | $ | 3,290 |
Reservoir Performance |  | 329 |  |  |  | 4,266 |  |  |  | 4 |  |  |  | 4,599 |
Well Construction |  | 1,485 |  |  |  | 7,025 |  |  |  | 196 |  |  |  | 8,706 |
Production Systems |  | 1,832 |  |  |  | 4,865 |  |  |  | 13 |  |  |  | 6,710 |
Eliminations & other |  | 8 |  |  |  | (334 | ) |  |  | (50 | ) |  |  | (376 | )
| $ | 4,466 |  |  | $ | 18,296 |  |  | $ | 167 |  |  | $ | 22,929 |
(Stated in millions) |
| 2020 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 573 |  |  | $ | 2,487 |  |  | $ | 7 |  |  | $ | 3,067 |
Reservoir Performance |  | 1,547 |  |  |  | 4,043 |  |  |  | 12 |  |  |  | 5,602 |
Well Construction |  | 1,453 |  |  |  | 6,965 |  |  |  | 196 |  |  |  | 8,614 |
Production Systems |  | 1,921 |  |  |  | 4,702 |  |  |  | 27 |  |  |  | 6,650 |
Eliminations & other |  | (16 | ) |  |  | (195 | ) |  |  | (121 | ) |  |  | (332 | )
| $ | 5,478 |  |  | $ | 18,002 |  |  | $ | 121 |  |  | $ | 23,601 |
Fixed Assets less accumulated depreciation by geographic area was as follows:
(Stated in millions) |
| 2022 |  |  | 2021 |
North America | $ | 1,459 |  |  | $ | 1,368 |
Latin America |  | 913 |  |  |  | 868 |
Europe/CIS/Africa |  | 1,668 |  |  |  | 1,690 |
Middle East & Asia |  | 2,099 |  |  |  | 2,049 |
Unallocated |  | 468 |  |  |  | 454 |
| $ | 6,607 |  |  | $ | 6,429 |
17. Supplementary Information Cash paid for interest and income taxes was as follows:
(Stated in millions) |
| 2022 |  |  | 2021 |  |  | 2020 |
Interest | $ | 562 |  |  | $ | 560 |  |  | $ | 598 |
Income tax | $ | 716 |  |  | $ | 591 |  |  | $ | 582 |
Interest and other income, net includes the following:
(Stated in millions) |
| 2022 |  |  | 2021 |  |  | 2020 |
Gain on sale of Liberty shares * | $ | 325 |  |  | $ | 28 |  |  | $ | - |
Loss on Blue Chip Swap transactions * |  | (139 | ) |  |  | - |  |  |  | - |
Gain on ADC equity investment * |  | 107 |  |  |  | - |  |  |  | - |
Earnings of equity method investments |  | 164 |  |  |  | 40 |  |  |  | 91 |
Interest income |  | 99 |  |  |  | 33 |  |  |  | 33 |
Gain on sale of real estate * |  | 43 |  |  |  | - |  |  |  | - |
Gain on repurchase of bonds * |  | 11 |  |  |  | - |  |  |  | - |
Unrealized gain on marketable securities * |  | - |  |  |  | 47 |  |  |  | 39 |
Gain on sale of OneStim * |  | - |  |  |  | - |  |  |  | 104 |
| $ | 610 |  |  | $ | 148 |  |  | $ | 267 |
* See Note 3 – Charges and Credits The components of depreciation and amortization expense were as follows:
(Stated in millions) |
| 2022 |  |  | 2021 |  |  | 2020 |
Depreciation of fixed assets | $ | 1,368 |  |  | $ | 1,402 |  |  | $ | 1,625 |
Amortization of APS investments |  | 368 |  |  |  | 305 |  |  |  | 396 |
Amortization of intangible assets |  | 301 |  |  |  | 302 |  |  |  | 371 |
Amortization of exploration data costs |  | 110 |  |  |  | 111 |  |  |  | 174 |
| $ | 2,147 |  |  | $ | 2,120 |  |  | $ | 2,566 |
The change in Allowance for doubtful accounts was as follows:
(Stated in millions) |
| 2022 |  |  | 2021 |  |  | 2020 |
Balance at beginning of year | $ | 319 |  |  | $ | 301 |  |  | $ | 255 |
Additions |  | 54 |  |  |  | 47 |  |  |  | 58 |
Amounts written off |  | (33 | ) |  |  | (29 | ) |  |  | (12 | )
Balance at end of year | $ | 340 |  |  | $ | 319 |  |  | $ | 301 |
Revenue in excess of billings related to contracts where revenue is recognized over time was $0.3 billion at December 31, 2022 and $0.2 billion at December 31, 2021. Such amounts are included within Receivables less allowance for doubtful accounts in the Consolidated Balance Sheet. Other Assets consist of the following:
(Stated in millions) |
| 2022 |  |  | 2021 |
Investments in APS projects | $ | 2,023 |  |  | $ | 1,786 |
Pension and other postretirement plan assets |  | 904 |  |  |  | 1,034 |
Operating lease assets |  | 538 |  |  |  | 553 |
Exploration data costs capitalized |  | 141 |  |  |  | 154 |
Fair value of hedge contracts |  | 1 |  |  |  | 66 |
Other |  | 363 |  |  |  | 590 |
| $ | 3,970 |  |  | $ | 4,183 |
Accounts payable and accrued liabilities consist of the following:
(Stated in millions) |
| 2022 |  |  | 2021 |
Trade | $ | 3,921 |  |  | $ | 3,205 |
Payroll, vacation and employee benefits |  | 1,493 |  |  |  | 1,377 |
Billings and cash collections in excess of revenue |  | 1,157 |  |  |  | 1,088 |
Other |  | 2,550 |  |  |  | 2,712 |
| $ | 9,121 |  |  | $ | 8,382 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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