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Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases

13. Leases

SLB’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  $1.2 billion in both 2022 and 2021 and $1.4 billion in 2020.  

 

Maturities of operating lease liabilities as of December 31, 2022 were as follows:

 

(Stated in millions)

 

 

 

 

 

2023

$

165

 

2024

 

134

 

2025

 

105

 

2026

 

79

 

2027

 

67

 

Thereafter

 

262

 

Total lease payments

$

812

 

Less: Interest

 

(113

)

 

$

699

 

Amounts recognized in balance sheet:

 

 

 

Accounts payable and accrued liabilities

$

160

 

Other Liabilities

 

539

 

 

$

699

 

 

The weighted-average remaining lease term as of December 31, 2022 was 10 years. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2022 was 3.3%.