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Pension and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Compensation And Retirement Disclosure [Abstract]

Weighted-Average Assumed Discount Rate, Compensation Increases and Expected Long-Term Rate of Return on Plan Assets Used to Determine Net Pension Cost for US and International Plans

The weighted-average assumed discount rate, compensation increases and expected long-term rate of return on plan assets used to determine the net pension cost for the US and International plans were as follows:

	US												International
	2022				2021				2020				2022				2021				2020
Discount rate		3.00	%			2.60	%			3.30	%			2.83	%			2.38	%			3.27	%
Compensation increases		4.00	%			4.00	%			4.00	%			4.83	%			4.82	%			4.83	%
Return on plan assets		4.40	%			6.60	%			6.60	%			5.05	%			6.73	%			6.71	%

Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan

Net pension cost (credit) included the following components:

(Stated in millions)
	US												International
	2022				2021				2020				2022				2021				2020
Service cost	$	37			$	44			$	55			$	101			$	117			$	140
Interest cost		137				127				148				298				267				301
Expected return on plan assets		(202	)			(254	)			(233	)			(530	)			(640	)			(591	)
Amortization of prior service cost		-				-				8				-				-				-
Amortization of net loss		5				44				41				80				227				159
	$	(23	)		$	(39	)		$	19			$	(51	)		$	(29	)		$	9

The net periodic benefit credit for the US postretirement medical plan included the following components:

(Stated in millions)
	2022				2021				2020
Service cost	$	23			$	28			$	31
Interest cost		33				32				36
Expected return on plan assets		(38	)			(73	)			(70	)
Amortization of prior service credit		(23	)			(23	)			(25	)
Amortization of net loss		(10	)			-				-
Curtailment gain		-				-				(69	)
	$	(15	)		$	(36	)		$	(97	)

Weighted-Average Assumed Discount Rate and Compensation Increases Used to Determine Projected Benefit Obligations for US and International Plans

The weighted-average assumed discount rate and compensation increases used to determine the projected benefit obligations for the US and International plans were as follows:

	US								International
	2022				2021				2022				2021
Discount rate		5.50	%			3.00	%			5.41	%			2.83	%
Compensation increases		4.00	%			4.00	%			4.84	%			4.83	%

Changes In Projected Benefit Obligation Plan Assets And Funded Status Of Plans

The changes in the projected benefit obligation, plan assets and funded status of the plans were as follows:

(Stated in millions)
	US								International
	2022				2021				2022				2021
Change in Projected Benefit Obligations:
Projected benefit obligation at beginning of year	$	4,668			$	4,940			$	10,618			$	11,140
Service cost		37				44				101				117
Interest cost		137				127				298				267
Contribution by plan participants		-				-				47				53
Actuarial gains		(1,152	)			(211	)			(3,140	)			(586	)
Currency effect		-				-				(148	)			(18	)
Benefits paid		(375	)			(232	)			(363	)			(355	)
Other		-				-				185				-
Projected benefit obligation at end of year	$	3,315			$	4,668			$	7,598			$	10,618
Change in Plan Assets:
Plan assets at fair value at beginning of year	$	4,696			$	4,776			$	11,221			$	10,493
Actual return on plan assets		(933	)			145				(2,834	)			1,040
Currency effect		-				-				(188	)			(28	)
Company contributions		8				7				18				18
Contributions by plan participants		-				-				47				53
Benefits paid		(375	)			(232	)			(363	)			(355	)
Other		-				-				225				-
Plan assets at fair value at end of year	$	3,396			$	4,696			$	8,126			$	11,221
Asset	$	81			$	28			$	528			$	603
Amounts Recognized in Balance Sheet:
Postretirement Benefits	$	(151	)		$	(212	)		$	(14	)		$	(19	)
Other Assets		232				240				542				622
	$	81			$	28			$	528			$	603
Amounts Recognized in Accumulated Other Comprehensive Loss:
Actuarial losses	$	255			$	276			$	1,366			$	1,174
Accumulated benefit obligation	$	3,221			$	4,484			$	7,454			$	10,370

Weighted-Average Allocation of Plan Assets and Target Allocation by Asset Category

Actuarial gains arising during each of 2022 and 2021 were primarily attributable to increases in the discount rate used to determine the PBO.

The weighted-average allocation of plan assets as of December 31, 2022 and 2021 and the target allocations by asset category as of December 31, 2022 were as follows:

	US															International
	Target					2022					2021					Target					2022					2021
Cash and cash equivalents	0 - 3			%			2		%			2		%		0 - 5			%			2		%			3		%
Equity securities	0 - 5						-					5				10 - 20						10					23
Debt securities	80 - 90						83					84				50 - 60						56					53
Private equity and real estate	5 - 12						11					8				15 - 22						19					13
Private debt	2 - 8						4					1				9 - 15						13					8
		100		%			100		%			100		%			100		%			100		%			100		%

Fair Value of Schlumberger's Pension Plan Assets

The fair value of SLB’s pension plan assets at December 31, 2022 and 2021, by asset category, is presented below and was determined based on valuation techniques categorized as follows:

• Level One: The use of quoted prices in active markets for identical instruments.

• Level Two: The use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or other inputs that are observable in the market or can be corroborated by observable market data.

• Level Three: The use of significant unobservable inputs that typically require the use of management’s estimates of assumptions that market participants would use in pricing.

(Stated in millions)
	US Plan Assets
	2022																2021
					Level				Level				Level								Level				Level				Level
	Total				One				Two				Three				Total				One				Two				Three
Asset Category:
Cash and Cash Equivalents	$	81			$	77			$	4			$	-			$	68			$	61			$	7			$	-
Equity Securities:
US		3				-				3				-				212				196				16				-
International		-				-				-				-				49				48				1				-
Debt Securities:
Corporate bonds		1,775				-				1,775				-				2,583				-				2,583				-
Government and related debt securities		1,014				157				857				-				1,353				199				1,154				-
Mortgage and asset-based securities		29				-				29				-				-				-				-				-
Alternative Investments:
Private equity		291				-				-				291				293				-				-				293
Private debt		124				-				-				124				39				-				-				39
Real estate		79				-				-				79				99				-				-				99
Total	$	3,396			$	234			$	2,668			$	494			$	4,696			$	504			$	3,761			$	431

(Stated in millions)
	International Plan Assets
	2022																2021
					Level				Level				Level								Level				Level				Level
	Total				One				Two				Three				Total				One				Two				Three
Asset Category:
Cash and Cash Equivalents	$	170			$	163			$	7			$	-			$	362			$	353			$	9			$	-
Equity Securities:
US		580				497				83				-				1,909				1,600				309				-
International		273				273				-				-				717				717				-				-
Debt Securities:
Corporate bonds		2,224				-				2,224				-				2,859				-				2,859				-
Government and related debt securities		2,283				336				1,947				-				2,390				221				2,169				-
Mortgage and asset-based securities		13				-				13				-				644				-				644				-
Alternative Investments:
Private equity		1,362				-				-				1,362				1,284				-				-				1,284
Private debt		1,041				-				-				1,041				869				-				-				869
Real estate		180				-				-				180				187				-				-				187
Total	$	8,126			$	1,269			$	4,274			$	2,583			$	11,221			$	2,891			$	5,990			$	2,340

Defined Benefit Plan Weighted Average Assumptions Used in Calculating Benefit Obligation and Net Periodic Benefit Cost for US Postretirement Medical Plan

The actuarial assumptions used to determine the accumulated postretirement benefit obligation and net periodic benefit cost for the US postretirement medical plan were as follows:

	Benefit Obligations								Net Periodic Benefit
	At December 31,								Cost for the Year
	2022				2021				2022				2021				2020
Discount rate		5.50	%			3.00	%			3.00	%			2.60	%			3.30	%
Return on plan assets	-				-					2.94	%			6.21	%			6.21	%
Current medical cost trend rate		7.50	%			6.75	%			6.75	%			7.00	%			7.25	%
Ultimate medical cost trend rate		4.50	%			4.50	%			4.50	%			4.50	%			4.50	%
Year that the rate reaches the ultimate trend rate	2035				2031				2031				2031				2031

Changes in Accumulated Postretirement Benefit Obligation, Plan Assets and Funded Status

The changes in the accumulated postretirement benefit obligation, plan assets and funded status were as follows:

(Stated in millions)
	2022				2021
Change in Accumulated Postretirement Benefit Obligation:
Benefit obligation at beginning of year	$	1,146			$	1,234
Service cost		23				28
Interest cost		33				32
Contribution by plan participants		9				10
Actuarial gains		(338	)			(95	)
Benefits paid		(65	)			(63	)
Benefit obligation at end of year	$	808			$	1,146
Change in Plan Assets:
Plan assets at fair value at beginning of year	$	1,318			$	1,356
Actual return on plan assets		(323	)			15
Contributions by plan participants		8				10
Benefits paid		(65	)			(63	)
Plan assets at fair value at end of year	$	938			$	1,318
Asset	$	130			$	172
Amounts Recognized in Accumulated Other Comprehensive Loss:
Actuarial gains	$	199			$	225
Prior service credit		59				81
	$	258			$	306

Expected Benefits to be Paid Under US and International Pension Plans and Postretirement Medical Plan

The expected benefits to be paid under the US and International pension plans as well as the postretirement medical plan are as follows:

(Stated in millions)
	Pension Plans								Postretirement
	US				International				Medical Plan
2023	$	226			$	390			$	51
2024	$	227			$	399			$	51
2025	$	228			$	412			$	52
2026	$	230			$	425			$	52
2027	$	231			$	432			$	54
2028-2032	$	1,168			$	2,376			$	296

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