Q3 0000087347--12-31 false SCHLUMBERGER LIMITED/NV P8 2024-06-30 http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#InterestExpense http://fasb.org/us-gaap/2023#InterestExpense http://fasb.org/us-gaap/2023#RevenueFromContractWithCustomerExcludingAssessedTax http://fasb.org/us-gaap/2023#RevenueFromContractWithCustomerExcludingAssessedTax http://fasb.org/us-gaap/2023#RevenueFromContractWithCustomerExcludingAssessedTax http://fasb.org/us-gaap/2023#RevenueFromContractWithCustomerExcludingAssessedTax http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2023-07-01 2023-09-30 0000087347 us-gaap:CashFlowHedgingMember us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2022-01-01 2022-09-30 0000087347 slb:GainOnSaleOfLibertySharesMember slb:InterestAndOtherMember 2022-04-01 2022-06-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:DigitalIntegrationMember 2022-07-01 2022-09-30 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2022-01-01 2022-12-31 0000087347 us-gaap:TreasuryStockCommonMember 2023-01-01 2023-09-30 0000087347 slb:GainOnSaleOfLibertySharesMember slb:InterestAndOtherMember 2022-01-01 2022-03-31 0000087347 slb:CommercialPaperProgramsMaturingFebruaryTwoZeroTwoFourMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ProductionSystemsMember 2022-01-01 2022-09-30 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2023-01-01 2023-09-30 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:DigitalIntegrationMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:LatinAmericaMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember 2022-01-01 2022-09-30 0000087347 slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember 2022-01-01 2022-12-31 0000087347 slb:FourPointZeroZeroPercentNotesDueTwoThousandTwentyFiveMember 2023-09-30 0000087347 us-gaap:CommercialPaperMember 2022-12-31 0000087347 slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ReservoirPerformanceMember 2022-01-01 2022-09-30 0000087347 slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ProductionSystemsMember 2022-07-01 2022-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2019-12-31 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:WellConstructionMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ProductionSystemsMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:WellConstructionMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember 2023-07-01 2023-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0000087347 us-gaap:NoncontrollingInterestMember 2023-06-30 0000087347 us-gaap:OperatingSegmentsMember slb:WellConstructionMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:LatinAmericaMember 2023-07-01 2023-09-30 0000087347 2020-12-31 0000087347 us-gaap:OperatingSegmentsMember 2022-07-01 2022-09-30 0000087347 slb:ReservoirPerformanceMember 2023-01-01 2023-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember 2023-01-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2022-06-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:DigitalIntegrationMember 2022-07-01 2022-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember 2019-12-31 0000087347 us-gaap:RetainedEarningsMember 2022-12-31 0000087347 slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember 2022-01-01 2022-12-31 0000087347 slb:WellConstructionMember 2022-01-01 2022-09-30 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-09-30 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2022-12-31 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2023-01-01 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CommodityContractMember 2022-01-01 2022-09-30 0000087347 us-gaap:RetainedEarningsMember 2023-06-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2022-01-01 2022-09-30 0000087347 slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember 2023-09-30 0000087347 slb:CommercialPaperProgramsMaturingFebruaryTwoZeroTwentySevenMember 2023-09-30 0000087347 slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2022-01-01 2022-12-31 0000087347 us-gaap:NoncontrollingInterestMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:EuropeAfricaMember 2023-01-01 2023-09-30 0000087347 us-gaap:EmployeeStockOptionMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:WellConstructionMember 2022-07-01 2022-09-30 0000087347 2023-01-01 2023-09-30 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-01-01 2023-09-30 0000087347 us-gaap:RevolvingCreditFacilityMember 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CrossCurrencyInterestRateContractMember 2023-07-01 2023-09-30 0000087347 slb:WellConstructionMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ReservoirPerformanceMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ReservoirPerformanceMember 2022-07-01 2022-09-30 0000087347 slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember 2023-09-30 0000087347 us-gaap:TradeNamesMember 2023-09-30 0000087347 2022-07-01 2022-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CrossCurrencyInterestRateContractMember 2022-01-01 2022-09-30 0000087347 slb:ReservoirPerformanceMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:ProductionSystemsMember 2023-07-01 2023-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2022-07-01 2022-09-30 0000087347 us-gaap:CustomerRelationshipsMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2023-01-01 2023-09-30 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2022-12-31 0000087347 us-gaap:ServiceMember 2022-01-01 2022-09-30 0000087347 slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember 2022-01-01 2022-12-31 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-07-01 2022-09-30 0000087347 us-gaap:EmployeeStockOptionMember 2022-07-01 2022-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2021-12-31 0000087347 slb:DigitalIntegrationMember 2022-01-01 2022-09-30 0000087347 2022-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember 2022-01-01 2022-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember 2023-01-01 2023-09-30 0000087347 us-gaap:MaterialReconcilingItemsMember 2022-01-01 2022-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CrossCurrencyInterestRateContractMember 2023-01-01 2023-09-30 0000087347 slb:FourPointZeroZeroPercentNotesDueTwoThousandTwentyFiveMember 2022-01-01 2022-12-31 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2022-01-01 2022-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2023-01-01 2023-09-30 0000087347 slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember 2023-01-01 2023-09-30 0000087347 slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-09-30 0000087347 slb:EliminationsOtherMember 2022-07-01 2022-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2019-12-31 0000087347 slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember 2022-12-31 0000087347 us-gaap:OtherIntangibleAssetsMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ProductionSystemsMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:DigitalIntegrationMember 2023-01-01 2023-09-30 0000087347 2022-06-30 0000087347 us-gaap:RetainedEarningsMember 2023-09-30 0000087347 slb:CommercialPaperProgramsMaturingFebruaryTwoZeroTwoFiveMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:EuropeAfricaMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:MiddleEastMember 2023-07-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2022-01-01 2022-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2022-09-30 0000087347 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2023-07-01 2023-09-30 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2023-01-01 2023-09-30 0000087347 us-gaap:ForeignExchangeContractMember 2023-09-30 0000087347 us-gaap:RetainedEarningsMember 2021-12-31 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:DigitalIntegrationMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:WellConstructionMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2023-01-01 2023-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:TwoPointZeroZeroPercentGuaranteedNotesDueTwoThousandThirtyTwoMember 2020-12-31 0000087347 us-gaap:CommonStockMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:DigitalIntegrationMember 2023-01-01 2023-09-30 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2023-04-01 2023-06-30 0000087347 slb:ThreePointSevenFivePercentSeniorNotesDueTwoThousandTwentyFourMember 2023-09-30 0000087347 slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember 2023-01-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2021-12-31 0000087347 2022-04-01 2022-06-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ReservoirPerformanceMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:ProductionSystemsMember 2022-07-01 2022-09-30 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2019-12-31 0000087347 slb:FourPointZeroZeroPercentNotesDueTwoThousandTwentyFiveMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2022-01-01 2022-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0000087347 us-gaap:CommonStockMember 2022-12-31 0000087347 us-gaap:TreasuryStockCommonMember 2022-07-01 2022-09-30 0000087347 slb:GainOnSaleOfRealEstateMember slb:InterestAndOtherMember 2022-04-01 2022-06-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:MiddleEastMember 2022-07-01 2022-09-30 0000087347 slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember 2022-12-31 0000087347 2023-06-30 0000087347 us-gaap:OperatingSegmentsMember srt:LatinAmericaMember 2023-01-01 2023-09-30 0000087347 us-gaap:DevelopedTechnologyRightsMember 2022-12-31 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2019-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember 2023-01-01 2023-09-30 0000087347 slb:DigitalIntegrationMember 2023-07-01 2023-09-30 0000087347 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:WellConstructionMember 2023-07-01 2023-09-30 0000087347 slb:ThreePointSevenZeroPercentNotesDueTwoThousandAndTwentyFourMember 2022-12-31 0000087347 slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2022-01-01 2022-12-31 0000087347 slb:ProductionSystemsMember 2023-07-01 2023-09-30 0000087347 slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember 2023-09-30 0000087347 slb:DigitalIntegrationMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember 2022-07-01 2022-09-30 0000087347 us-gaap:MaterialReconcilingItemsMember 2023-01-01 2023-09-30 0000087347 slb:WellConstructionMember 2023-01-01 2023-09-30 0000087347 slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:ProductionSystemsMember 2023-01-01 2023-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2020-12-31 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:WellConstructionMember 2022-01-01 2022-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-09-30 0000087347 us-gaap:RetainedEarningsMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2022-07-01 2022-09-30 0000087347 us-gaap:CommonStockMember 2022-07-01 2022-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-01 2023-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-09-30 0000087347 slb:EuroDenominatedGuaranteedNotesMember 2020-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CrossCurrencyInterestRateContractMember 2022-07-01 2022-09-30 0000087347 us-gaap:DevelopedTechnologyRightsMember 2023-09-30 0000087347 slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember 2022-12-31 0000087347 us-gaap:ForeignExchangeContractMember 2022-12-31 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2020-12-31 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:WellConstructionMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember 2022-01-01 2022-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:MiddleEastMember 2022-01-01 2022-09-30 0000087347 slb:ThreePointSevenFivePercentSeniorNotesDueTwoThousandTwentyFourMember 2022-01-01 2022-12-31 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-06-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:ProductionSystemsMember 2022-01-01 2022-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:DigitalIntegrationMember 2022-07-01 2022-09-30 0000087347 us-gaap:TradeNamesMember 2022-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember 2022-07-01 2022-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2022-01-01 2022-09-30 0000087347 slb:ReservoirPerformanceMember 2022-01-01 2022-09-30 0000087347 slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember 2023-09-30 0000087347 slb:OnePointThreeSevenFivePercentGuaranteedNotesDueTwoThousandTwentySixMember 2020-12-31 0000087347 us-gaap:CashFlowHedgingMember us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:DigitalIntegrationMember 2023-07-01 2023-09-30 0000087347 slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember 2022-01-01 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:WellConstructionMember 2023-07-01 2023-09-30 0000087347 srt:ScenarioForecastMember 2024-07-01 2024-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2022-06-30 0000087347 slb:LibertyEnergyIncMember 2022-04-01 2022-06-30 0000087347 us-gaap:OperatingSegmentsMember slb:ProductionSystemsMember 2022-01-01 2022-09-30 0000087347 slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2023-09-30 0000087347 slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:WellConstructionMember 2022-01-01 2022-09-30 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ProductionSystemsMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ProductionSystemsMember 2023-07-01 2023-09-30 0000087347 slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember 2022-01-01 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember us-gaap:MiddleEastMember 2023-01-01 2023-09-30 0000087347 slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember 2023-09-30 0000087347 srt:ScenarioForecastMember 2024-10-01 2024-12-31 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2023-07-01 2023-09-30 0000087347 us-gaap:ProductMember 2023-01-01 2023-09-30 0000087347 slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember 2023-09-30 0000087347 slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember 2023-01-01 2023-09-30 0000087347 us-gaap:CustomerRelationshipsMember 2022-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ProductionSystemsMember 2023-07-01 2023-09-30 0000087347 slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember 2023-09-30 0000087347 slb:ThreePointSevenFivePercentSeniorNotesDueTwoThousandTwentyFourMember 2022-12-31 0000087347 slb:EliminationsOtherMember 2023-07-01 2023-09-30 0000087347 slb:EliminationsOtherMember 2023-01-01 2023-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2022-07-01 2022-09-30 0000087347 slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2020-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CommodityContractMember 2022-07-01 2022-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:DigitalIntegrationMember 2022-01-01 2022-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ProductionSystemsMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:WellConstructionMember 2023-01-01 2023-09-30 0000087347 us-gaap:CashFlowHedgingMember us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2022-07-01 2022-09-30 0000087347 slb:ThreePointSevenFivePercentSeniorNotesDueTwoThousandTwentyFourMember 2023-01-01 2023-09-30 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2020-12-31 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2023-07-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2022-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember 2022-12-31 0000087347 slb:LibertyEnergyIncMember 2023-01-01 2023-03-31 0000087347 slb:CrossCurrencyInterestRateContract1Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2023-01-01 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:DigitalIntegrationMember 2022-01-01 2022-09-30 0000087347 slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember 2022-01-01 2022-12-31 0000087347 slb:FourPointZeroZeroPercentNotesDueTwoThousandTwentyFiveMember 2022-12-31 0000087347 slb:ThreePointSevenZeroPercentNotesDueTwoThousandAndTwentyFourMember 2022-01-01 2022-12-31 0000087347 srt:ScenarioForecastMember 2024-01-01 2024-06-30 0000087347 slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember 2022-12-31 0000087347 us-gaap:ProductMember 2022-07-01 2022-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ReservoirPerformanceMember 2023-07-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2023-01-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2023-06-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ProductionSystemsMember 2023-07-01 2023-09-30 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ReservoirPerformanceMember 2023-07-01 2023-09-30 0000087347 us-gaap:ProductMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:WellConstructionMember 2023-07-01 2023-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:OnePointThreeSevenFivePercentGuaranteedNotesDueTwoThousandTwentySixMember 2020-12-31 0000087347 slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember 2023-01-01 2023-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:WellConstructionMember 2023-01-01 2023-09-30 0000087347 us-gaap:ProductMember 2023-07-01 2023-09-30 0000087347 us-gaap:OtherIntangibleAssetsMember 2022-12-31 0000087347 us-gaap:TreasuryStockCommonMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember srt:NorthAmericaMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:WellConstructionMember 2022-07-01 2022-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2022-06-30 0000087347 2023-07-01 2023-09-30 0000087347 us-gaap:RetainedEarningsMember 2023-07-01 2023-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2023-01-01 2023-09-30 0000087347 slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember 2023-01-01 2023-09-30 0000087347 slb:ThreePointSevenZeroPercentNotesDueTwoThousandAndTwentyFourMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:WellConstructionMember 2022-01-01 2022-09-30 0000087347 slb:ReservoirPerformanceMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ProductionSystemsMember 2022-07-01 2022-09-30 0000087347 slb:ThreePointSevenZeroPercentNotesDueTwoThousandAndTwentyFourMember 2023-01-01 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CommodityContractMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:DigitalIntegrationMember 2023-01-01 2023-09-30 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2022-12-31 0000087347 slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember 2022-01-01 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember slb:OtherCountriesMember 2022-07-01 2022-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2022-12-31 0000087347 srt:ScenarioForecastMember 2023-10-01 2023-12-31 0000087347 us-gaap:ServiceMember 2023-07-01 2023-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember 2022-01-01 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember slb:OtherCountriesMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2022-07-01 2022-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2023-07-01 2023-09-30 0000087347 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-09-30 0000087347 us-gaap:EmployeeStockOptionMember 2023-07-01 2023-09-30 0000087347 slb:ProductionSystemsMember 2023-01-01 2023-09-30 0000087347 slb:EuroDenominatedNotesMember 2020-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember slb:OtherCountriesMember 2023-07-01 2023-09-30 0000087347 slb:DigitalIntegrationMember 2022-07-01 2022-09-30 0000087347 slb:LibertyEnergyIncMember 2022-01-01 2022-03-31 0000087347 slb:ProductionSystemsMember 2022-07-01 2022-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember us-gaap:CrossCurrencyInterestRateContractMember 2019-12-31 0000087347 us-gaap:NoncontrollingInterestMember 2023-09-30 0000087347 2023-09-30 0000087347 us-gaap:NoncontrollingInterestMember 2022-07-01 2022-09-30 0000087347 us-gaap:MaterialReconcilingItemsMember 2022-07-01 2022-09-30 0000087347 slb:ProductionSystemsMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:LatinAmericaMember 2022-07-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:WellConstructionMember 2022-07-01 2022-09-30 0000087347 slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2023-01-01 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2023-01-01 2023-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2022-01-01 2022-09-30 0000087347 us-gaap:RevolvingCreditFacilityMember 2023-01-01 2023-09-30 0000087347 2021-12-31 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-06-30 0000087347 slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-01-01 2023-09-30 0000087347 us-gaap:RetainedEarningsMember 2022-06-30 0000087347 us-gaap:OperatingSegmentsMember slb:EuropeAfricaMember 2022-01-01 2022-09-30 0000087347 slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember 2022-12-31 0000087347 us-gaap:ServiceMember 2023-01-01 2023-09-30 0000087347 slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember 2023-01-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:ReservoirPerformanceMember slb:OtherCountriesMember 2022-01-01 2022-09-30 0000087347 slb:WellConstructionMember 2023-07-01 2023-09-30 0000087347 slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2023-04-01 2023-06-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2022-01-01 2022-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:EuropeAfricaMember 2023-07-01 2023-09-30 0000087347 us-gaap:CashFlowHedgingMember us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2023-07-01 2023-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember 2023-01-01 2023-09-30 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2022-01-01 2022-12-31 0000087347 slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember 2022-12-31 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember srt:NorthAmericaMember 2023-07-01 2023-09-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2020-12-31 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember us-gaap:NonUsMember 2022-01-01 2022-09-30 0000087347 slb:TwoPointZeroZeroPercentGuaranteedNotesDueTwoThousandThirtyTwoMember 2020-12-31 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2023-01-01 2023-09-30 0000087347 us-gaap:RetainedEarningsMember 2023-01-01 2023-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2023-07-01 2023-09-30 0000087347 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-09-30 0000087347 2019-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember slb:DigitalIntegrationMember 2023-07-01 2023-09-30 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2022-01-01 2022-12-31 0000087347 slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember 2020-12-31 0000087347 slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember 2022-12-31 0000087347 us-gaap:RetainedEarningsMember 2022-01-01 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:DigitalIntegrationMember 2023-07-01 2023-09-30 0000087347 slb:ZeroPointZeroZeroPercentNotesDueTwoThousandTwentyFourMember 2023-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2023-01-01 2023-09-30 0000087347 us-gaap:CommonStockMember 2023-09-30 0000087347 slb:CommercialPaperProgramsMaturingJulyTwoZeroTwentySixMember 2023-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2023-06-30 0000087347 slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember 2023-01-01 2023-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2021-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:DigitalIntegrationMember 2023-01-01 2023-09-30 0000087347 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:CommodityContractMember 2023-07-01 2023-09-30 0000087347 slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember 2022-01-01 2022-12-31 0000087347 us-gaap:OperatingSegmentsMember slb:DigitalIntegrationMember 2023-07-01 2023-09-30 0000087347 slb:EliminationsOtherMember us-gaap:OperatingSegmentsMember 2022-01-01 2022-09-30 0000087347 us-gaap:ServiceMember 2022-07-01 2022-09-30 0000087347 slb:EliminationsOtherMember 2022-01-01 2022-09-30 0000087347 slb:OnePointFourZeroPercentSeniorNotesDueTwoThousandTwentyFiveMember 2022-12-31 0000087347 slb:CrossCurrencyInterestRateContract1Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2023-07-01 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:DigitalIntegrationMember 2022-07-01 2022-09-30 0000087347 us-gaap:TreasuryStockCommonMember 2022-12-31 0000087347 us-gaap:CommercialPaperMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember slb:OtherCountriesMember 2022-07-01 2022-09-30 0000087347 us-gaap:RetainedEarningsMember 2022-09-30 0000087347 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember slb:ProductionSystemsMember 2022-07-01 2022-09-30 0000087347 slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember 2023-09-30 0000087347 us-gaap:MaterialReconcilingItemsMember 2023-07-01 2023-09-30 0000087347 slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember 2023-06-30 0000087347 us-gaap:CrossCurrencyInterestRateContractMember 2023-09-30 0000087347 us-gaap:OperatingSegmentsMember us-gaap:NonUsMember slb:ReservoirPerformanceMember 2022-01-01 2022-09-30 iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:shares iso4217:USD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2023

OR

☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file No.: 1-4601

Schlumberger N.V. (Schlumberger Limited)

(Exact name of registrant as specified in its charter)

C uraçao |  | 52-0684746
(State or other jurisdiction of incorporation or organization) |  | (IRS Employer Identification No.)
42 rue Saint-Dominique |  |
Paris, France |  | 75007
5599 San Felipe |  |
Houston, Texas, United States of America |  | 77056
62 Buckingham Gate |  |
London, United Kingdom |  | SW1E 6AJ
Parkstraat 83 |  |
The Hague, The Netherlands |  | 2514 JG
(Addresses of principal executive offices) |  | (Zip Codes)

Registrant’s telephone number in the United States, including area code, is: (713) 513-2000

Securities registered pursuant to Section 12(b) of the Act:

Title of each class | Trading Symbol(s) | Name of each exchange on which registered
common stock, par value $0.01 per share | SLB | New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer |  | ☒ |  | Accelerated filer |  | ☐
Non-accelerated filer |  | ☐ |  | Smaller reporting company |  | ☐
Emerging growth company |  | ☐ |  |  |  |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class | Outstanding at September 30, 2023
COMMON STOCK, $0.01 PAR VALUE PER SHARE | 1,423,420,641

SCHLUMBERGER LIMITED

Third Quarter 2023 Form 10-Q

Table of Contents

|  |  | Page
PART I |  | Financial Information |
Item 1. |  | Financial Statements | 3
Item 2. |  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 16
Item 3. |  | Quantitative and Qualitative Disclosures about Market Risk | 21
Item 4. |  | Controls and Procedures | 21
PART II |  | Other Information |
Item 1. |  | Legal Proceedings | 22
Item 1A. |  | Risk Factors | 22
Item 2. |  | Unregistered Sales of Equity Securities and Use of Proceeds | 22
Item 3. |  | Defaults Upon Senior Securities | 22
Item 4. |  | Mine Safety Disclosures | 22
Item 5. |  | Other Information | 22
Item 6. |  | Exhibits | 23

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

(Unaudited)

(Stated in millions, except per share amounts) |
| Third Quarter |  |  | Nine Months |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue |  |  |  |  |  |  |  |  |  |  |
Services | $ | 5,719 |  |  | $ | 5,153 |  |  | $ | 16,616 |  |  | $ | 14,109 |
Product sales |  | 2,591 |  |  |  | 2,324 |  |  |  | 7,529 |  |  |  | 6,104 |
Total Revenue |  | 8,310 |  |  |  | 7,477 |  |  |  | 24,145 |  |  |  | 20,213 |
Interest & other income |  | 73 |  |  |  | 75 |  |  |  | 247 |  |  |  | 436 |
Expenses |  |  |  |  |  |  |  |  |  |  |
Cost of services |  | 4,360 |  |  |  | 3,975 |  |  |  | 12,777 |  |  |  | 11,082 |
Cost of sales |  | 2,232 |  |  |  | 2,067 |  |  |  | 6,601 |  |  |  | 5,541 |
Research & engineering |  | 186 |  |  |  | 160 |  |  |  | 524 |  |  |  | 456 |
General & administrative |  | 81 |  |  |  | 94 |  |  |  | 268 |  |  |  | 277 |
Interest |  | 129 |  |  |  | 122 |  |  |  | 373 |  |  |  | 369 |
Income before taxes |  | 1,395 |  |  |  | 1,134 |  |  |  | 3,849 |  |  |  | 2,924 |
Tax expense |  | 259 |  |  |  | 215 |  |  |  | 722 |  |  |  | 514 |
Net income |  | 1,136 |  |  |  | 919 |  |  |  | 3,127 |  |  |  | 2,410 |
Net income attributable to noncontrolling interests |  | 13 |  |  |  | 12 |  |  |  | 36 |  |  |  | 33 |
Net income attributable to SLB | $ | 1,123 |  |  | $ | 907 |  |  | $ | 3,091 |  |  | $ | 2,377 |
Basic income per share of SLB | $ | 0.79 |  |  | $ | 0.64 |  |  | $ | 2.17 |  |  | $ | 1.68 |
Diluted income per share of SLB | $ | 0.78 |  |  | $ | 0.63 |  |  | $ | 2.14 |  |  | $ | 1.65 |
Average shares outstanding: |  |  |  |  |  |  |  |  |  |  |
Basic |  | 1,424 |  |  |  | 1,418 |  |  |  | 1,424 |  |  |  | 1,414 |
Assuming dilution |  | 1,442 |  |  |  | 1,439 |  |  |  | 1,442 |  |  |  | 1,436 |

See Notes to Consolidated Financial Statements

3

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Unaudited)

(Stated in millions) |
| Third Quarter |  |  | Nine Months |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net income | $ | 1,136 |  |  | $ | 919 |  |  | $ | 3,127 |  |  | $ | 2,410 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |
Unrealized net change arising during the period |  | (46 | ) |  |  | (18 | ) |  |  | (123 | ) |  |  | 92 |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |
Net gain (loss) on cash flow hedges |  | 24 |  |  |  | 45 |  |  |  | 96 |  |  |  | (53 | )
Reclassification to net income of net realized (gain) loss |  | (2 | ) |  |  | 30 |  |  |  | (16 | ) |  |  | 103 |
Pension and other postretirement benefit plans |  |  |  |  |  |  |  |  |  |  |
Amortization to net income of net actuarial (gain) loss |  | (2 | ) |  |  | 16 |  |  |  | (6 | ) |  |  | 46 |
Amortization to net income of net prior service credit |  | (6 | ) |  |  | (6 | ) |  |  | (17 | ) |  |  | (17 | )
Income taxes on pension and other postretirement benefit plans |  | 2 |  |  |  | 1 |  |  |  | 5 |  |  |  | 3 |
Comprehensive income |  | 1,106 |  |  |  | 987 |  |  |  | 3,066 |  |  |  | 2,584 |
Comprehensive income attributable to noncontrolling interests |  | 13 |  |  |  | 12 |  |  |  | 36 |  |  |  | 33 |
Comprehensive income attributable to SLB | $ | 1,093 |  |  | $ | 975 |  |  | $ | 3,030 |  |  | $ | 2,551 |

See Notes to Consolidated Financial Statements

4

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

(Stated in millions) |
| Sept. 30, |  |  |  |
| 2023 |  |  | Dec. 31, |
| (Unaudited) |  |  | 2022 |
ASSETS |  |  |  |  |
Current Assets |  |  |  |  |
Cash | $ | 2,488 |  |  | $ | 1,655 |
Short-term investments |  | 1,247 |  |  |  | 1,239 |
Receivables less allowance for doubtful accounts (2023 - $347; 2022 - $340) |  | 8,049 |  |  |  | 7,032 |
Inventories |  | 4,305 |  |  |  | 3,999 |
Other current assets |  | 949 |  |  |  | 1,078 |
|  | 17,038 |  |  |  | 15,003 |
Investments in Affiliated Companies |  | 1,622 |  |  |  | 1,581 |
Fixed Assets less accumulated depreciation |  | 6,875 |  |  |  | 6,607 |
Goodwill |  | 13,111 |  |  |  | 12,982 |
Intangible Assets |  | 2,912 |  |  |  | 2,992 |
Other Assets |  | 4,255 |  |  |  | 3,970 |
| $ | 45,813 |  |  | $ | 43,135 |
LIABILITIES AND EQUITY |  |  |  |  |
Current Liabilities |  |  |  |  |
Accounts payable and accrued liabilities | $ | 9,222 |  |  | $ | 9,121 |
Estimated liability for taxes on income |  | 935 |  |  |  | 1,002 |
Short-term borrowings and current portion of long-term debt |  | 1,998 |  |  |  | 1,632 |
Dividends payable |  | 373 |  |  |  | 263 |
|  | 12,528 |  |  |  | 12,018 |
Long-term Debt |  | 11,147 |  |  |  | 10,594 |
Postretirement Benefits |  | 166 |  |  |  | 165 |
Deferred Taxes |  | 157 |  |  |  | 61 |
Other Liabilities |  | 2,108 |  |  |  | 2,308 |
|  | 26,106 |  |  |  | 25,146 |
Equity |  |  |  |  |
Common stock |  | 11,182 |  |  |  | 11,837 |
Treasury stock |  | (621 | ) |  |  | (1,016 | )
Retained earnings |  | 12,742 |  |  |  | 10,719 |
Accumulated other comprehensive loss |  | (3,917 | ) |  |  | (3,855 | )
SLB stockholders’ equity |  | 19,386 |  |  |  | 17,685 |
Noncontrolling interests |  | 321 |  |  |  | 304 |
|  | 19,707 |  |  |  | 17,989 |
| $ | 45,813 |  |  | $ | 43,135 |

See Notes to Consolidated Financial Statements

5

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

(Stated in millions) |
| Nine Months Ended September 30, |
| 2023 |  |  | 2022 |
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 3,127 |  |  | $ | 2,410 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Gain on sale of Liberty shares |  | (36 | ) |  |  | (242 | )
Gain on sale of real estate |  | - |  |  |  | (43 | )
Depreciation and amortization (1) |  | 1,703 |  |  |  | 1,598 |
Deferred taxes |  | 94 |  |  |  | 3 |
Stock-based compensation expense |  | 218 |  |  |  | 236 |
Earnings of equity method investments, less dividends received |  | (120 | ) |  |  | (52 | )
Change in assets and liabilities: (2) |  |  |  |  |
Increase in receivables |  | (1,003 | ) |  |  | (1,302 | )
Increase in inventories |  | (334 | ) |  |  | (849 | )
Decrease (increase) in other current assets |  | 107 |  |  |  | (144 | )
Decrease (increase) in other assets |  | 2 |  |  |  | (40 | )
(Decrease) increase in accounts payable and accrued liabilities |  | (10 | ) |  |  | 475 |
(Decrease) increase in estimated liability for taxes on income |  | (113 | ) |  |  | 6 |
Decrease in other liabilities |  | (65 | ) |  |  | - |
Other |  | 45 |  |  |  | 50 |
NET CASH PROVIDED BY OPERATING ACTIVITIES |  | 3,615 |  |  |  | 2,106 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures |  | (1,345 | ) |  |  | (1,046 | )
APS investments |  | (391 | ) |  |  | (420 | )
Exploration data costs capitalized |  | (121 | ) |  |  | (77 | )
Business acquisitions and investments, net of cash acquired |  | (280 | ) |  |  | (45 | )
Proceeds from sale of Liberty shares |  | 137 |  |  |  | 513 |
Proceeds from sale of real estate |  | - |  |  |  | 120 |
Purchase of short-term investments, net |  | (12 | ) |  |  | (55 | )
Other |  | (251 | ) |  |  | (106 | )
NET CASH USED IN INVESTING ACTIVITIES |  | (2,263 | ) |  |  | (1,116 | )
Cash flows from financing activities: |  |  |  |  |
Dividends paid |  | (961 | ) |  |  | (600 | )
Proceeds from employee stock purchase plan |  | 191 |  |  |  | 142 |
Proceeds from exercise of stock options |  | 85 |  |  |  | 29 |
Stock repurchase program |  | (594 | ) |  |  | - |
Proceeds from issuance of long-term debt |  | 992 |  |  |  | - |
Net decrease in short-term borrowings |  | (43 | ) |  |  | (13 | )
Taxes paid on net settled stock-based compensation awards |  | (162 | ) |  |  | (92 | )
Other |  | (11 | ) |  |  | (4 | )
NET CASH USED IN FINANCING ACTIVITIES |  | (503 | ) |  |  | (538 | )
Net increase in cash before translation effect |  | 849 |  |  |  | 452 |
Translation effect on cash |  | (16 | ) |  |  | (29 | )
Cash, beginning of period |  | 1,655 |  |  |  | 1,757 |
Cash, end of period | $ | 2,488 |  |  | $ | 2,180 |

(1)
Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.
(2)
Net of the effect of business acquisitions.

See Notes to Consolidated Financial Statements

6

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT O F STOCKHOLDERS’ EQUITY

(Unaudited)

|  | (Stated in millions, except per share amounts)
|  |  |  |  |  |  |  | Accumulated |  |  |  |
|  |  |  |  |  |  |  | Other |  |  |  |
|  | Common Stock |  | Retained |  | Comprehensive |  | Noncontrolling |  |
January 1, 2023 – September 30, 2023 |  | Issued |  | In Treasury |  | Earnings |  | Loss |  | Interests |  | Total
Balance, January 1, 2023 |  | $11,837 |  | $(1,016) |  | $10,719 |  | $(3,855) |  | $304 |  | $17,989
Net income |  |  |  |  |  | 3,091 |  |  |  | 36 |  | 3,127
Currency translation adjustments |  |  |  |  |  |  |  | (123) |  |  |  | (123)
Changes in fair value of cash flow hedges |  |  |  |  |  |  |  | 80 |  |  |  | 80
Pension and other postretirement benefit plans |  |  |  |  |  |  |  | (18) |  |  |  | (18)
Shares sold to optionees, less shares exchanged |  | (53) |  | 138 |  |  |  |  |  |  |  | 85
Vesting of restricted stock, net of taxes withheld |  | (657) |  | 495 |  |  |  |  |  |  |  | (162)
Employee stock purchase plan |  | (162) |  | 352 |  |  |  |  |  |  |  | 190
Stock repurchase program |  |  |  | (594) |  |  |  |  |  |  |  | (594)
Stock-based compensation expense |  | 218 |  |  |  |  |  |  |  |  |  | 218
Dividends declared ($0.75 per share) |  |  |  |  |  | (1,068) |  |  |  |  |  | (1,068)
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  | (20) |  | (20)
Other |  | (1) |  | 4 |  |  |  | (1) |  | 1 |  | 3
Balance, September 30, 2023 |  | $11,182 |  | $(621) |  | $12,742 |  | $(3,917) |  | $321 |  | $19,707

|  |  |  |  |  |  |  | Accumulated |  |  |  |
|  |  |  |  |  |  |  | Other |  |  |  |
|  | Common Stock |  | Retained |  | Comprehensive |  | Noncontrolling |  |
January 1, 2022 – September 30, 2022 |  | Issued |  | In Treasury |  | Earnings |  | Loss |  | Interests |  | Total
Balance, January 1, 2022 |  | $12,608 |  | $(2,233) |  | $8,199 |  | $(3,570) |  | $282 |  | $15,286
Net income |  |  |  |  |  | 2,377 |  |  |  | 33 |  | 2,410
Currency translation adjustments |  |  |  |  |  |  |  | 92 |  |  |  | 92
Changes in fair value of cash flow hedges |  |  |  |  |  |  |  | 50 |  |  |  | 50
Pension and other postretirement benefit plans |  |  |  |  |  |  |  | 32 |  |  |  | 32
Shares sold to optionees, less shares exchanged |  | (24) |  | 53 |  |  |  |  |  |  |  | 29
Vesting of restricted stock, net of taxes withheld |  | (730) |  | 638 |  |  |  |  |  |  |  | (92)
Employee stock purchase plan |  | (222) |  | 364 |  |  |  |  |  |  |  | 142
Stock-based compensation expense |  | 236 |  |  |  |  |  |  |  |  |  | 236
Dividends declared ($0.475 per share) |  |  |  |  |  | (672) |  |  |  |  |  | (672)
Dividends paid to noncontrolling interest |  |  |  |  |  |  |  |  |  | (4) |  | (4)
Other |  | (1) |  | 2 |  |  |  |  |  | 1 |  | 2
Balance, September 30, 2022 |  | $11,867 |  | $(1,176) |  | $9,904 |  | $(3,396) |  | $312 |  | $17,511

|  |  |  |  |  |  |  | Accumulated |  |  |  |
|  |  |  |  |  |  |  | Other |  |  |  |
|  | Common Stock |  | Retained |  | Comprehensive |  | Noncontrolling |  |
July 1, 2023 – September 30, 2023 |  | Issued |  | In Treasury |  | Earnings |  | Loss |  | Interests |  | Total
Balance, July 1, 2023 |  | $11,270 |  | $(750) |  | $11,974 |  | $(3,886) |  | $326 |  | $18,934
Net income |  |  |  |  |  | 1,123 |  |  |  | 13 |  | 1,136
Currency translation adjustments |  |  |  |  |  |  |  | (46) |  |  |  | (46)
Changes in fair value of cash flow hedges |  |  |  |  |  |  |  | 22 |  |  |  | 22
Pension and other postretirement benefit plans |  |  |  |  |  |  |  | (6) |  |  |  | (6)
Shares sold to optionees, less shares exchanged |  | (22) |  | 69 |  |  |  |  |  |  |  | 47
Vesting of restricted stock, net of taxes withheld |  | (84) |  | 66 |  |  |  |  |  |  |  | (18)
Employee stock purchase plan |  | (39) |  | 143 |  |  |  |  |  |  |  | 104
Stock repurchase program |  |  |  | (151) |  |  |  |  |  |  |  | (151)
Stock-based compensation expense |  | 58 |  |  |  |  |  |  |  |  |  | 58
Dividends declared ($0.25 per share) |  |  |  |  |  | (355) |  |  |  | (18) |  | (373)
Other |  | (1) |  | 2 |  |  |  | (1) |  |  |  | -
Balance, September 30, 2023 |  | $11,182 |  | $(621) |  | $12,742 |  | $(3,917) |  | $321 |  | $19,707

7

|  | (Stated in millions, except per share amounts)
|  |  |  |  |  |  |  | Accumulated |  |  |  |
|  |  |  |  |  |  |  | Other |  |  |  |
|  | Common Stock |  | Retained |  | Comprehensive |  | Noncontrolling |  |
July 1, 2022– September 30, 2022 |  | Issued |  | In Treasury |  | Earnings |  | Loss |  | Interests |  | Total
Balance, July 1, 2022 |  | $11,981 |  | $(1,436) |  | $9,244 |  | $(3,464) |  | $300 |  | $16,625
Net income |  |  |  |  |  | 907 |  |  |  | 12 |  | 919
Currency translation adjustments |  |  |  |  |  |  |  | (18) |  |  |  | (18)
Changes in fair value of cash flow hedges |  |  |  |  |  |  |  | 75 |  |  |  | 75
Pension and other postretirement benefit plans |  |  |  |  |  |  |  | 11 |  |  |  | 11
Shares sold to optionees, less shares exchanged |  | (72) |  | 65 |  |  |  |  |  |  |  | (7)
Vesting of restricted stock, net of taxes withheld |  | (118) |  | 196 |  |  |  |  |  |  |  | 78
Stock-based compensation expense |  | 76 |  |  |  |  |  |  |  |  |  | 76
Dividends declared ($0.175 per share) |  |  |  |  |  | (248) |  |  |  |  |  | (248)
Other |  |  |  | (1) |  | 1 |  |  |  |  |  | -
Balance, September 30, 2022 |  | $11,867 |  | $(1,176) |  | $9,904 |  | $(3,396) |  | $312 |  | $17,511

SHARES OF COMMON STOCK

(Unaudited)

|  |  |  | (Stated in millions) |
|  |  |  |  |  |  | Shares |
| Issued |  |  | In Treasury |  |  | Outstanding |
Balance, January 1, 2023 |  | 1,434 |  |  |  | (14 | ) |  |  | 1,420 |
Shares sold to optionees, less shares exchanged |  | - |  |  |  | 2 |  |  |  | 2 |
Vesting of restricted stock |  | - |  |  |  | 7 |  |  |  | 7 |
Shares issued under employee stock purchase plan |  | - |  |  |  | 5 |  |  |  | 5 |
Stock repurchase program |  | - |  |  |  | (11 | ) |  |  | (11 | )
Balance, September 30, 2023 |  | 1,434 |  |  |  | (11 | ) |  |  | 1,423 |

See Notes to Consolidated Financial Statements

8

SCHLUMBERGER LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. Basis of Presentation

The accompanying unaudited consolidated financial statements of Schlumberger Limited and its subsidiaries (“SLB”) have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of SLB management, all adjustments considered necessary for a fair statement have been included in the accompanying unaudited financial statements. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the nine-month period ended September 30, 2023 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023. The December 31, 2022 balance sheet information has been derived from the SLB 2022 audited financial statements. For further information, refer to the Consolidated Financial Statements and notes thereto included in the SLB Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on January 25, 2023.

2. Charges and Credits

2023

On December 31, 2020, SLB contributed its onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating and Permian frac sand business to Liberty Energy Inc. (“Liberty”) in exchange for an equity interest in Liberty. During the first quarter of 2023, SLB sold all of its remaining approximately 9 million shares of Liberty and received net proceeds of $137 million. As a result, SLB recognized a pretax gain of $36 million ($28 million after-tax) which is classified in Interest & other income in the Consolidated Statement of Income.

SLB did no t record any charges or credits during the third quarter of 2023.

2022

SLB recorded the following credits during the first nine months of 2022, all of which are classified in Interest & other income in the Consolidated Statement of Income:

| (Stated in millions) |
| Pretax Credit |  |  | Tax Expense |  |  | Net |
First quarter: |  |  |  |  |  |  |  |
Gain on sale of Liberty shares | $ | 26 |  |  | $ | 4 |  |  | $ | 22 |
Second quarter: |  |  |  |  |  |  |  |
Gain on sale of Liberty shares |  | 216 |  |  |  | 13 |  |  |  | 203 |
Gain on sale of real estate |  | 43 |  |  |  | 2 |  |  |  | 41 |
| $ | 285 |  |  | $ | 19 |  |  | $ | 266 |

During the first quarter of 2022, SLB sold 7.2 million of its shares of Liberty and received proceeds of $84 million. During the second quarter of 2022, SLB sold an additional 26.5 million of its shares in Liberty and received proceeds of $429 million. As a result of these transactions SLB recognized a gain of $26 million during the first quarter of 2022 and a gain of $216 million during the second quarter of 2022.

During the second quarter of 2022, SLB sold certain real estate and received proceeds of $120 million. As a result of this transaction, SLB recognized a gain of $43 million.

9

3. Earnings per Share

The following is a reconciliation from basic earnings per share of SLB to diluted earnings per share of SLB:

| (Stated in millions, except per share amounts) |
| 2023 |  |  | 2022 |
| Net Income Attributable to SLB |  |  | Average Shares Outstanding |  |  | Earnings per Share |  |  | Net Income Attributable to SLB |  |  | Average Shares Outstanding |  |  | Earnings per Share |
Third Quarter |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1,123 |  |  |  | 1,424 |  |  | $ | 0.79 |  |  | $ | 907 |  |  |  | 1,418 |  |  | $ | 0.64 |
Assumed exercise of stock options |  | - |  |  |  | 2 |  |  |  |  |  |  | - |  |  |  | - |  |  |  |
Unvested restricted stock |  | - |  |  |  | 16 |  |  |  |  |  |  | - |  |  |  | 21 |  |  |  |
Diluted | $ | 1,123 |  |  |  | 1,442 |  |  | $ | 0.78 |  |  | $ | 907 |  |  |  | 1,439 |  |  | $ | 0.63 |
| 2023 |  |  | 2022 |
| Net Income Attributable to SLB |  |  | Average Shares Outstanding |  |  | Earnings per Share |  |  | Net Income Attributable to SLB |  |  | Average Shares Outstanding |  |  | Earnings per Share |
Nine Months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 3,091 |  |  |  | 1,424 |  |  | $ | 2.17 |  |  | $ | 2,377 |  |  | $ | 1,414 |  |  | $ | 1.68 |
Assumed exercise of stock options |  | - |  |  |  | 2 |  |  |  |  |  |  | - |  |  |  | - |  |  |  |
Unvested restricted stock |  | - |  |  |  | 16 |  |  |  |  |  |  | - |  |  |  | 22 |  |  |  |
Diluted | $ | 3,091 |  |  |  | 1,442 |  |  | $ | 2.14 |  |  | $ | 2,377 |  |  | $ | 1,436 |  |  | $ | 1.65 |

The number of outstanding options to purchase shares of SLB common stock that were not included in the computation of diluted income per share, because to do so would have had an antidilutive effect, was as follows:

(Stated in millions) |
| Third Quarter |  |  | Nine Months |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Employee stock options |  | 21 |  |  |  | 37 |  |  |  | 21 |  |  |  | 31 |

4. Inventories

A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows:

(Stated in millions) |
| Sept. 30, |  |  | Dec. 31, |
| 2023 |  |  | 2022 |
Raw materials & field materials | $ | 2,316 |  |  | $ | 2,085 |
Work in progress |  | 612 |  |  |  | 547 |
Finished goods |  | 1,377 |  |  |  | 1,367 |
| $ | 4,305 |  |  | $ | 3,999 |

5. Fixed Assets

Fixed assets consist of the following:

(Stated in millions) |
| Sept. 30, |  |  | Dec. 31, |
| 2023 |  |  | 2022 |
Property, plant & equipment | $ | 28,946 |  |  | $ | 28,386 |
Less: Accumulated depreciation |  | 22,071 |  |  |  | 21,779 |
| $ | 6,875 |  |  | $ | 6,607 |

Depreciation expense was as follows:

10

(Stated in millions) |
| 2023 |  |  | 2022 |
Third Quarter | $ | 365 |  |  | $ | 343 |
Nine Months | $ | 1,065 |  |  | $ | 1,021 |

6. Intangible Assets

Intangible assets consist of the following:

| (Stated in millions) |
| Sept. 30, 2023 |  |  | Dec. 31, 2022 |
| Gross |  |  | Accumulated |  |  | Net Book |  |  | Gross |  |  | Accumulated |  |  | Net Book |
| Book Value |  |  | Amortization |  |  | Value |  |  | Book Value |  |  | Amortization |  |  | Value |
Customer relationships | $ | 1,708 |  |  | $ | 687 |  |  | $ | 1,021 |  |  | $ | 1,680 |  |  | $ | 631 |  |  | $ | 1,049 |
Technology/technical know-how |  | 1,304 |  |  |  | 742 |  |  |  | 562 |  |  |  | 1,280 |  |  |  | 676 |  |  |  | 604 |
Tradenames |  | 795 |  |  |  | 256 |  |  |  | 539 |  |  |  | 767 |  |  |  | 222 |  |  |  | 545 |
Other |  | 1,727 |  |  |  | 937 |  |  |  | 790 |  |  |  | 1,657 |  |  |  | 863 |  |  |  | 794 |
| $ | 5,534 |  |  | $ | 2,622 |  |  | $ | 2,912 |  |  | $ | 5,384 |  |  | $ | 2,392 |  |  | $ | 2,992 |

Amortization expense was as follows:

(Stated in millions) |
| 2023 |  |  | 2022 |
Third Quarter | $ | 78 |  |  | $ | 76 |
Nine Months | $ | 231 |  |  | $ | 226 |

Based on the carrying value of intangible assets at September 30, 2023, amortization expense for the subsequent five years is estimated to be: fourth quarter of 2023—$79 million; 2024—$301 million; 2025—$278 million; 2026—$272 million; 2027—$269 million; and 2028—$248 million.

7. Long-term Debt

Long-term Debt consists of the following:

(Stated in millions) |
| Sept. 30, |  |  | Dec. 31, |
| 2023 |  |  | 2022 |
3.90% Senior Notes due 2028 | $ | 1,470 |  |  | $ | 1,464 |
2.65% Senior Notes due 2030 |  | 1,250 |  |  |  | 1,250 |
1.375% Guaranteed Notes due 2026 |  | 1,054 |  |  |  | 1,061 |
2.00% Guaranteed Notes due 2032 |  | 1,047 |  |  |  | 1,055 |
0.25% Notes due 2027 |  | 948 |  |  |  | 955 |
0.50% Notes due 2031 |  | 947 |  |  |  | 954 |
4.30% Senior Notes due 2029 |  | 847 |  |  |  | 847 |
1.00% Guaranteed Notes due 2026 |  | 631 |  |  |  | 635 |
0.00% Notes due 2024 |  | 528 |  |  |  | 531 |
4.00% Senior Notes due 2025 |  | 523 |  |  |  | 522 |
1.40% Senior Notes due 2025 |  | 499 |  |  |  | 499 |
4.50% Senior Notes due 2028 |  | 497 |  |  |  | - |
4.85% Senior Notes due 2033 |  | 496 |  |  |  | - |
7.00% Notes due 2038 |  | 200 |  |  |  | 202 |
5.95% Notes due 2041 |  | 112 |  |  |  | 112 |
5.13% Notes due 2043 |  | 98 |  |  |  | 98 |
3.75% Senior Notes due 2024 |  | - |  |  |  | 355 |
3.70% Notes due 2024 |  | - |  |  |  | 54 |
| $ | 11,147 |  |  | $ | 10,594 |

11

During the second quarter of 2023 SLB issued $500 million of 4.50% Senior Notes due 2028 and $500 million of 4.85% Senior Notes due 2033.

The estimated fair value of SLB’s Long-term Debt, based on quoted market prices at September 30, 2023 and December 31, 2022, was $10.0 billion and $9.4 billion, respectively.

At September 30, 2023, SLB had committed credit facility agreements aggregating $5.75 billion with commercial banks. These committed facilities support commercial paper programs in the United States and Europe, of which $0.75 billion matures in February 2024, $2.0 billion matures in February 2025, $1.0 billion matures in July 2026 and $2.0 billion matures in Februar y 2027. SLB also has a €750 million three-year committed revolving credit facility maturing in June 2024. At September 30, 2023 no amounts had been drawn under these facilities. Interest rates and other terms of borrowing under these lines of credit vary by facility.

There were no borrowings u nder the commercial paper programs at September 30, 2023 and December 31, 2022, respectively.

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment S.A. and Schlumberger Finance Canada Ltd., both indirect wholly-owned subsidiaries of Schlumberger Limited.

8. Derivative Instruments and Hedging Activities

SLB’s functional currency is primarily the US dollar. However, outside the United States, a significant portion of SLB’s expenses is incurred in foreign currencies. Therefore, when the US dollar weakens (strengthens) in relation to the foreign currencies of the countries in which SLB conducts business, the US dollar-reported expenses will increase (decrease).

SLB is exposed to risks on future cash flows relating to its fixed rate debt denominated in currencies other than the functional currency. SLB uses cross-currency interest rate swaps to provide a hedge against these risks. These contracts are accounted for as cash flow hedges, with the fair value of the derivative recorded on the Consolidated Balance Sheet and in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are reclassified into earnings in the same period or periods that the hedged item is recognized in earnings.

Details regarding SLB’s outstanding cross-currency interest rate swaps as of September 30, 2023, were as follows:

•
During 2019, a US-dollar functional currency subsidiary of SLB issued €1.5 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps in order to hedge changes in the US dollar value of its €0.5 billion 0.00% Notes due 2024, €0.5 billion 0.25% Notes due 2027 and €0.5 billion 0.50% Notes due 2031. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.29%, 2.51% and 2.76%, respectively.
•
During 2020, a US-dollar functional currency subsidiary of SLB issued €0.8 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its €0.4 billion of 0.25% Notes due 2027 and €0.4 billion of 0.50% Notes due 2031. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 1.87% and 2.20%, respectively.
•
During 2020, a US-dollar functional currency subsidiary of SLB issued €2.0 billion of Euro-denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its €1.0 billion of 1.375% Guaranteed Notes due 2026 and €1.0 billion of 2.00% Guaranteed Notes due 2032. These cross-currency interest rate swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.77% and 3.49%, respectively.
•
During 2020, a Canadian dollar functional currency subsidiary of SLB issued $0.5 billion of US dollar denominated debt. SLB entered into cross-currency interest rate swaps to hedge changes in the US dollar value of its $0.5 billion 1.40% Senior Notes due 2025. These cross-currency interest rate swaps effectively convert the US dollar notes to Canadian dollar denominated debt with a fixed annual interest rate of 1.73%.

A summary of the amounts included in the Consolidated Balance Sheet relating to cross currency interest rate swaps was as follows:

| (Stated in millions) |
| Sept. 30, 2023 |  |  | Dec. 31, 2022 |
Other Assets | $ | 12 |  |  | $ | 1 |
Other Liabilities | $ | 241 |  |  | $ | 326 |

The fair values were determined using a model with inputs that are observable in the market or can be derived or corroborated by observable data.

SLB has entered into derivative contracts that hedge the price of oil related to approximately 75% of the projected oil production for the fourth quarter of 2023 and the first half of 2024; approximately 50% for the third quarter of 2024; and 25% for the fourth quarter of 2024 for one of its Asset Performance Solutions ("APS") projects. These contracts are accounted for as cash flow hedges, with changes in the

12

fair value of the hedge recorded in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss are reclassified to earnings in the same period or periods that the hedged item is recognized in earnings.

SLB is exposed to risks on future cash flows to the extent that the local currency is not the functional currency and expenses denominated in local currency are not equal to revenues denominated in local currency. SLB uses foreign currency forward contracts to provide a hedge against a portion of these cash flow risks. These contracts are accounted for as cash flow hedges.

SLB is also exposed to changes in the fair value of assets and liabilities denominated in currencies other than the functional currency. While SLB uses foreign currency forward contracts to economically hedge this exposure as it relates to certain currencies, these contracts are not designated as hedges for accounting purposes. Instead, the fair value of the derivative is recorded on the Consolidated Balance Sheet and changes in the fair value are recognized in the Consolidated Statement of Income, as are changes in the fair value of the hedged item.

Foreign currency forward contracts were outstanding for the US dollar equivalent of $2.3 billion and $2.1 billion in various foreign currencies as of September 30, 2023 and December 31, 2022, respectively.

Other than the previously mentioned cross-currency interest rate swaps, the fair value of the other outstanding derivatives was no t material as of September 30, 2023 and December 31, 2022.

The effect of derivative instruments designated as cash flow hedges, and those not designated as hedges, on the Consolidated Statement of Income was as follows:

|  |  |  |  |  |  | (Stated in millions) |  |  |
| Gain (Loss) Recognized in Income |  |  |
| Third Quarter |  |  | Nine Months |  |  |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | Consolidated Statement of Income Classification
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency interest rate swaps | $ | (159 | ) |  | $ | (362 | ) |  | $ | (27 | ) |  | $ | (653 | ) |  | Cost of services/sales
Cross-currency interest rate swaps |  | (22 | ) |  |  | - |  |  |  | (66 | ) |  |  | - |  |  | Interest expense
Commodity contracts |  | (5 | ) |  |  | (20 | ) |  |  | 2 |  |  |  | (85 | ) |  | Revenue
Foreign exchange contracts |  | 7 |  |  |  | (10 | ) |  |  | 14 |  |  |  | (17 | ) |  | Cost of services/sales
| $ | (179 | ) |  | $ | (392 | ) |  | $ | (77 | ) |  | $ | (755 | ) |  |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | $ | 5 |  |  | $ | 8 |  |  | $ | (21 | ) |  | $ | (30 | ) |  | Cost of services/sales

9. Contingencies

SLB is party to various legal proceedings from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. Management believes that the probability of a material loss with respect to any currently pending legal proceeding is remote. However, litigation is inherently uncertain and it is not possible to predict the ultimate disposition of any of these proceedings.

10. Segment Information

|  |  |  | (Stated in millions) |
| Third Quarter 2023 |  |  | Third Quarter 2022 |
|  |  |  | Income |  |  |  |  |  | Income |
| Revenue |  |  | Before Taxes |  |  | Revenue |  |  | Before Taxes |
Digital & Integration | $ | 982 |  |  | $ | 314 |  |  | $ | 900 |  |  | $ | 305 |
Reservoir Performance |  | 1,680 |  |  |  | 344 |  |  |  | 1,456 |  |  |  | 244 |
Well Construction |  | 3,430 |  |  |  | 759 |  |  |  | 3,084 |  |  |  | 664 |
Production Systems |  | 2,367 |  |  |  | 319 |  |  |  | 2,150 |  |  |  | 224 |
Eliminations & other |  | (149 | ) |  |  | (53 | ) |  |  | (113 | ) |  |  | (37 | )
Pretax segment operating income |  |  |  |  | 1,683 |  |  |  |  |  |  | 1,400 |
Corporate & other (1) |  |  |  |  | (182 | ) |  |  |  |  |  | (155 | )
Interest income (2) |  |  |  |  | 20 |  |  |  |  |  |  | 8 |
Interest expense (3) |  |  |  |  | (126 | ) |  |  |  |  |  | (119 | )
| $ | 8,310 |  |  | $ | 1,395 |  |  | $ | 7,477 |  |  | $ | 1,134 |

(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 that are included in the segments’ income ($2 million in 2023; $25 million in 2022).

13

(3)
Interest expense excludes amounts that are included in the segments’ income ($3 million in 2023; $3 million in 2022).

|  |  |  | (Stated in millions) |
| Nine Months 2023 |  |  | Nine Months 2022 |
|  |  |  | Income |  |  |  |  |  | Income |
| Revenue |  |  | Before Taxes |  |  | Revenue |  |  | Before Taxes |
Digital & Integration | $ | 2,822 |  |  | $ | 901 |  |  | $ | 2,713 |  |  | $ | 976 |
Reservoir Performance |  | 4,826 |  |  |  | 892 |  |  |  | 3,999 |  |  |  | 598 |
Well Construction |  | 10,052 |  |  |  | 2,162 |  |  |  | 8,168 |  |  |  | 1,522 |
Production Systems |  | 6,888 |  |  |  | 802 |  |  |  | 5,647 |  |  |  | 509 |
Eliminations & other |  | (443 | ) |  |  | (102 | ) |  |  | (314 | ) |  |  | (151 | )
Pretax segment operating income |  |  |  |  | 4,655 |  |  |  |  |  |  | 3,454 |
Corporate & other (1) |  |  |  |  | (536 | ) |  |  |  |  |  | (468 | )
Interest income (2) |  |  |  |  | 57 |  |  |  |  |  |  | 13 |
Interest expense (3) |  |  |  |  | (363 | ) |  |  |  |  |  | (360 | )
Charges and credits (4) |  |  |  |  | 36 |  |  |  |  |  |  | 285 |
| $ | 24,145 |  |  | $ | 3,849 |  |  | $ | 20,213 |  |  | $ | 2,924 |

(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 that are included in the segments’ income ($2 million in 2023; $53 million in 2022).
(3)
Interest expense excludes amounts that are included in the segments’ income ($10 million in 2023; $9 million in 2022).
(4)
See Note 2 – Charges and Credits.

Revenue by geographic area was as follows:

|  |  |  |  |  |  | (Stated in millions) |
| Third Quarter |  |  | Nine Months |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
North America | $ | 1,643 |  |  | $ | 1,543 |  |  | $ | 5,086 |  |  | $ | 4,362 |
Latin America |  | 1,681 |  |  |  | 1,508 |  |  |  | 4,923 |  |  |  | 4,042 |
Europe & Africa (1) |  | 2,091 |  |  |  | 2,039 |  |  |  | 6,095 |  |  |  | 5,134 |
Middle East & Asia |  | 2,842 |  |  |  | 2,334 |  |  |  | 7,877 |  |  |  | 6,525 |
Other |  | 53 |  |  |  | 53 |  |  |  | 164 |  |  |  | 150 |
| $ | 8,310 |  |  | $ | 7,477 |  |  | $ | 24,145 |  |  | $ | 20,213 |

(1)
Includes Russia and the Caspian region.

14

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

|  |  |  |  |  |  | (Stated in millions) |
| Third Quarter 2023 |
| North |  |  |  |  |  |  |  |  |  |
| America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 242 |  |  | $ | 737 |  |  | $ | 3 |  |  | $ | 982 |
Reservoir Performance |  | 125 |  |  |  | 1,554 |  |  |  | 1 |  |  |  | 1,680 |
Well Construction |  | 663 |  |  |  | 2,707 |  |  |  | 60 |  |  |  | 3,430 |
Production Systems |  | 626 |  |  |  | 1,740 |  |  |  | 1 |  |  |  | 2,367 |
Eliminations & other |  | (13 | ) |  |  | (124 | ) |  |  | (12 | ) |  |  | (149 | )
| $ | 1,643 |  |  | $ | 6,614 |  |  | $ | 53 |  |  | $ | 8,310 |
| Third Quarter 2022 |
| North |  |  |  |  |  |  |  |  |  |
| America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 229 |  |  | $ | 671 |  |  | $ | - |  |  | $ | 900 |
Reservoir Performance |  | 119 |  |  |  | 1,335 |  |  |  | 2 |  |  |  | 1,456 |
Well Construction |  | 621 |  |  |  | 2,406 |  |  |  | 57 |  |  |  | 3,084 |
Production Systems |  | 578 |  |  |  | 1,569 |  |  |  | 3 |  |  |  | 2,150 |
Eliminations & other |  | (4 | ) |  |  | (100 | ) |  |  | (9 | ) |  |  | (113 | )
| $ | 1,543 |  |  | $ | 5,881 |  |  | $ | 53 |  |  | $ | 7,477 |

| Nine Months 2023 |
| North |  |  |  |  |  |  |  |  |  |
| America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 727 |  |  | $ | 2,091 |  |  | $ | 4 |  |  | $ | 2,822 |
Reservoir Performance |  | 375 |  |  |  | 4,446 |  |  |  | 5 |  |  |  | 4,826 |
Well Construction |  | 2,095 |  |  |  | 7,782 |  |  |  | 175 |  |  |  | 10,052 |
Production Systems |  | 1,931 |  |  |  | 4,943 |  |  |  | 14 |  |  |  | 6,888 |
Eliminations & other |  | (42 | ) |  |  | (367 | ) |  |  | (34 | ) |  |  | (443 | )
| $ | 5,086 |  |  | $ | 18,895 |  |  | $ | 164 |  |  | $ | 24,145 |
| Nine Months 2022 |
| North |  |  |  |  |  |  |  |  |  |
| America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 781 |  |  | $ | 1,928 |  |  | $ | 4 |  |  | $ | 2,713 |
Reservoir Performance |  | 333 |  |  |  | 3,661 |  |  |  | 5 |  |  |  | 3,999 |
Well Construction |  | 1,659 |  |  |  | 6,354 |  |  |  | 155 |  |  |  | 8,168 |
Production Systems |  | 1,601 |  |  |  | 4,037 |  |  |  | 9 |  |  |  | 5,647 |
Eliminations & other |  | (12 | ) |  |  | (279 | ) |  |  | (23 | ) |  |  | (314 | )
| $ | 4,362 |  |  | $ | 15,701 |  |  | $ | 150 |  |  | $ | 20,213 |

Revenue in excess of billings related to contracts where revenue is recognized over time was $0.2 billion at September 30, 2023 and $0.3 billion at December 31, 2022. Such amounts are included within Receivables less allowance for doubtful accounts in the Consolidated Balance Sheet.

Due to the nature of its business, SLB does not have significant backlog. Total backlog was $3.2 billion at September 30, 2023, of which approximately 60% is expected to be recognized as revenue over the next 12 months.

Billings and cash collections in excess of revenue was $1.3 b illion at September 30, 2023 and $1.2 billion at December 31, 2022. Such amounts are included within Accounts payable and accrued liabilities in the Consolidated Balance Sheet.

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This section of the Form 10-Q discusses third-quarter 2023 results of operations with comparisons to the second-quarter 2023, as well as the first nine months of 2023 results of operations with comparisons to the first nine months of 2022. Detailed financial information with respect to second-quarter 2023 can be found in Part I, Item 1, “Financial Statements” of SLB’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023.

Third Quarter 2023 Compared to Second Quarter 2023

|  |  |  | (Stated in millions) |
| Third Quarter 2023 |  |  | Second Quarter 2023 |
|  |  |  | Income Before |  |  |  |  |  | Income Before |
| Revenue |  |  | Taxes |  |  | Revenue |  |  | Taxes |
Digital & Integration | $ | 982 |  |  | $ | 314 |  |  | $ | 947 |  |  | $ | 322 |
Reservoir Performance |  | 1,680 |  |  |  | 344 |  |  |  | 1,643 |  |  |  | 306 |
Well Construction |  | 3,430 |  |  |  | 759 |  |  |  | 3,362 |  |  |  | 731 |
Production Systems |  | 2,367 |  |  |  | 319 |  |  |  | 2,313 |  |  |  | 278 |
Eliminations & other |  | (149 | ) |  |  | (53 | ) |  |  | (166 | ) |  |  | (56 | )
Pretax segment operating income |  |  |  |  | 1,683 |  |  |  |  |  |  | 1,581 |
Corporate & other (1) |  |  |  |  | (182 | ) |  |  |  |  |  | (183 | )
Interest income (2) |  |  |  |  | 20 |  |  |  |  |  |  | 19 |
Interest expense (3) |  |  |  |  | (126 | ) |  |  |  |  |  | (124 | )
| $ | 8,310 |  |  | $ | 1,395 |  |  | $ | 8,099 |  |  | $ | 1,293 |

(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 that are included in the segments’ income ($2 million in Q3 2023; $- million in Q2 2023).
(3)
Interest expense excludes amounts that are included in the segments’ income ($3 million in Q3 2023; $3 million in Q2 2023).

SLB’s third-quarter 2023 results continue to reflect strong year-to-date performance with revenue growth of 19%. These results were driven by sustained growth in the international markets, where SLB reported its ninth consecutive quarter of double-digit year-on-year revenue growth.

Compared to the same quarter a year ago, international revenue grew 12%, outpacing North America, which increased 6%. Year on year, global third-quarter revenue grew 11% and pretax segment operating margin expanded 153 basis points (bps) to 20%.

Third-quarter 2023 revenue increased 3% sequentially—by more than $200 million—driven by the Middle East & Asia, which increased 8% in the quarter and continues to demonstrate positive investment momentum. Our strong quarterly performance was propelled by broad-based growth across Saudi Arabia, the United Arab Emirates, Indonesia, China, Malaysia, Kuwait, and Oman.

Third-quarter 2023 pretax segment operating margin expanded 73 bps sequentially.

Looking ahead, SLB believes the market fundamentals remain very compelling for its business. The oil and gas industry continues to benefit from a multiyear growth cycle that has shifted to the international and offshore markets where we are the clear leader. Concurrently, upstream spending is accelerating as operators continue to invest in long-cycle developments, production capacity expansions, exploration and appraisal, and enhanced gas production. The long-term nature of these global investments underscores the breadth, durability, and resilience of this cycle, and SLB expects these market dynamics to continue to drive profitable growth in the years ahead.

Digital & Integration

Digital & Integration revenue of $982 million increased 4% sequentially due to increased Asset Performance Solutions ("APS") revenue in Ecuador and increased digital revenue, which includes higher exploration data sales in Angola, the US Gulf of Mexico, and Malaysia.

Digital & Integration pretax operating margin of 32% contracted 200 bps sequentially due to lower profitability in APS, more than offsetting improved digital margins.

Reservoir Performance

Reservoir Performance revenue of $1.68 billion grew 2% sequentially primarily due to increased evaluation and stimulation activity internationally. More than 70% of the revenue growth came from Europe & Africa, mainly in offshore Angola, Namibia, and the United Kingdom. Strong growth was also achieved in Saudi Arabia from robust stimulation activity.

16

Reservoir Performance pretax operating margin of 20% expanded 190 bps sequentially. This increase was primarily driven by higher activity, pricing, and improved operating leverage across evaluation and stimulation.

Well Construction

Well Construction revenue of $3.43 billion increased 2% sequentially led by strong growth in the Middle East & Asia, which was partially offset by lower revenue in North America, which declined 8%.

Well Construction pretax operating margin of 22% expanded 38 bps sequentially driven by the international markets, mainly in Europe & Africa and the Middle East & Asia.

Production Systems

Production Systems revenue of $2.37 billion increased 2% sequentially primarily driven by strong sales of completions, artificial lift, and surface production systems. Strong international sequential revenue growth of 7% was led by the Middle East & Asia, with double-digit growth, followed by Latin America. North America revenue declined 8% due to lower subsea activity.

Production Systems pretax operating margin expanded 147 bps sequentially to 13%. The expansion was driven primarily by higher sales of completions, artificial lift, and surface production systems.

Nine Months 2023 Compared to Nine Months 2022

|  |  |  |  | (Stated in millions) |
|  | Nine Months 2023 |  |  | Nine Months 2022 |
|  |  |  |  | Income |  |  |  |  |  | Income |
|  |  |  |  | Before |  |  |  |  |  | Before |
|  | Revenue |  |  | Taxes |  |  | Revenue |  |  | Taxes |
Digital & Integration |  | $ | 2,822 |  |  | $ | 901 |  |  | $ | 2,713 |  |  | $ | 976 |
Reservoir Performance |  |  | 4,826 |  |  |  | 892 |  |  |  | 3,999 |  |  |  | 598 |
Well Construction |  |  | 10,052 |  |  |  | 2,162 |  |  |  | 8,168 |  |  |  | 1,522 |
Production Systems |  |  | 6,888 |  |  |  | 802 |  |  |  | 5,647 |  |  |  | 509 |
Eliminations & other |  |  | (443 | ) |  |  | (102 | ) |  |  | (314 | ) |  |  | (151 | )
Pretax segment operating income |  |  |  |  |  | 4,655 |  |  |  |  |  |  | 3,454 |
Corporate & other (1) |  |  |  |  |  | (536 | ) |  |  |  |  |  | (468 | )
Interest income (2) |  |  |  |  |  | 57 |  |  |  |  |  |  | 13 |
Interest expense (3) |  |  |  |  |  | (363 | ) |  |  |  |  |  | (360 | )
Charges and credits (4) |  |  |  |  |  | 36 |  |  |  |  |  |  | 285 |
|  | $ | 24,145 |  |  | $ | 3,849 |  |  | $ | 20,213 |  |  | $ | 2,924 |

(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 that are included in the segments’ income ($2 million in 2023; $53 million in 2022).
(3)
Interest expense excludes amounts that are included in the segments’ income ($10 million in 2023; $9 million in 2022).
(4)
Charges and credits are described in detail in Note 2 to the Consolidated Financial Statements.

Nine-month 2023 revenue of $24.15 billion increased 19% year on year led by Well Construction and Production Systems. On a geographic basis, year-on-year revenue growth was broad-based with North America revenue increasing 17% due to strong land and offshore drilling and higher sales of production systems, while international revenue grew 20%. International growth was widespread across all areas, led by the Middle East & Asia, which grew 21% due to higher drilling and intervention activity. Europe & Africa grew 19% primarily from higher sales of production systems in Europe and increased activity in offshore Africa, while Latin America revenue increased 22% due to robust drilling activity and higher sale of production systems.

Nine-month 2023 pretax segment operating margin of 19% expanded by 219 bps as compared to the same period last year driven by higher activity, improved pricing, and a more favorable activity mix.

Digital & Integration

Nine-month 2023 revenue of $2.82 billion increased 4% year on year, as strong growth in digital sales were largely offset by lower revenue in APS projects and decreased exploration data licensing sales. The APS revenue decline resulted primarily from a temporary production interruption in the projects in Ecuador during the first quarter of 2023 due to a pipeline disruption and lower commodity prices that impacted

17

the project in Canada. The lower exploration data licensing sales were driven by the absence of the $95 million of transfer fees recorded in the second quarter of 2022.

Year on year, pretax segment operating margin contracted 405 bps to 32% primarily due to the lower revenue from exploration data licenses and reduced profitability from APS projects.

Reservoir Performance

Nine-month 2023 revenue of $4.83 billion increased 21% year on year due primarily to increased activity internationally.

Year on year, pretax segment operating margin expanded 352 bps to 18% primarily due to higher activity levels and improved pricing.

Well Construction

Nine-month 2023 revenue of $10.05 billion increased 23% year on year with double-digit growth across all areas. North America grew 26% while international revenue increased 22% This growth was driven by drilling fluids and measurements—both on higher land and offshore activity—along with improved pricing.

Year on year, pretax segment operating margin expanded 286 bps to 22% with profitability improving across all geographic areas driven by the higher activity and improved pricing.

Production Systems

Nine-month 2023 revenue of $6.89 billion increased 22% driven by strong growth across all areas led by Latin America and the Middle East & Asia.

Year on year, pretax segment operating margin expanded 263 bps to 12% mainly driven by higher artificial lift, surface production system, and subsea production system sales, improved pricing, and the easing of supply chain constraints.

Interest and Other Income

Interest & other income consisted of the following:

(Stated in millions) |
| Third Quarter |  |  | Second Quarter |  |  | Nine Months |
| 2023 |  |  | 2023 |  |  | 2023 |  |  | 2022 |
Earnings of equity method investments | $ | 51 |  |  | $ | 63 |  |  | $ | 152 |  |  | $ | 85 |
Interest income |  | 22 |  |  |  | 19 |  |  |  | 59 |  |  |  | 66 |
Gain on sale of Liberty shares |  | - |  |  |  | - |  |  |  | 36 |  |  |  | 242 |
Gain on sale of real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | 43 |
| $ | 73 |  |  | $ | 82 |  |  | $ | 247 |  |  | $ | 436 |

Earnings of equity method investments for the first nine months of 2023 increased $67 million as compared to the same period of 2022 driven primarily by increased profitability of certain seismic-related investments.

Other

Research & engineering and General & administrative expenses, as a percentage of Revenue, for the third quarter and second quarter of 2023 and the first nine months of 2023 and 2022 were as follows:

| Third |  |  | Second |  |  |  |
| Quarter |  |  | Quarter |  |  | Nine Months |
| 2023 |  |  | 2023 |  |  | 2023 |  |  | 2022 |
Research & engineering |  | 2.2 | % |  |  | 2.0 | % |  |  | 2.2 | % |  |  | 2.3 | %
General & administrative |  | 1.0 | % |  |  | 1.2 | % |  |  | 1.1 | % |  |  | 1.4 | %

The effective tax rate was 19.0% for both the third and second quarters of 2023.

The effective tax rate for the first nine months of 2023 was 19%, as compared to 18% for the same period of 2022. The increase in the effective tax rate was primarily due to the credits described in Note 2 to the Consolidated Financial Statements, which lowered the effective tax rate during the first nine months of 2022 by one percentage point.

Charges and Credits

On December 31, 2020, SLB contributed its onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating and Permian frac sand business to Liberty in exchange for an equity interest in Liberty. During the first

18

quarter of 2023, SLB sold all of its remaining approximately 9 million shares of Liberty and received net proceeds of $137 million. As a result, SLB recognized a pretax gain of $36 million ($28 million after-tax) which is classified in Interest & other income in the Consolidated Statement of Income.

SLB did not record any charges or credits during the third quarter of 2023.

SLB recorded the following credits during the first nine months of 2022, all of which are classified in Interest & other income in the Consolidated Statement of Income.

| (Stated in millions) |
| Pretax Credit |  |  | Tax Expense |  |  | Net |
First quarter: |  |  |  |  |  |  |  |
Gain on sale of Liberty shares | $ | 26 |  |  | $ | 4 |  |  | $ | 22 |
Second quarter: |  |  |  |  |  |  |  |
Gain on sale of Liberty shares |  | 216 |  |  |  | 13 |  |  |  | 203 |
Gain on sale of real estate |  | 43 |  |  |  | 2 |  |  |  | 41 |
| $ | 285 |  |  | $ | 19 |  |  | $ | 266 |

Liquidity and Capital Resources

Details of the components of liquidity as well as changes in liquidity are as follows:

| (Stated in millions) |
| Sept. 30, |  |  | Sept. 30, |  |  | Dec. 31, |
Components of Liquidity: | 2023 |  |  | 2022 |  |  | 2022 |
Cash | $ | 2,488 |  |  | $ | 2,180 |  |  | $ | 1,655 |
Short-term investments |  | 1,247 |  |  |  | 1,429 |  |  |  | 1,239 |
Short-term borrowings and current portion of long-term debt |  | (1,998 | ) |  |  | (899 | ) |  |  | (1,632 | )
Long-term debt |  | (11,147 | ) |  |  | (12,452 | ) |  |  | (10,594 | )
Net debt (1) | $ | (9,410 | ) |  | $ | (9,742 | ) |  | $ | (9,332 | )

| Nine Months Ended Sept. 30, |
Changes in Liquidity: | 2023 |  |  | 2022 |
Net income | $ | 3,127 |  |  | $ | 2,410 |
Gain on sale of Liberty shares |  | (36 | ) |  |  | (242 | )
Gain on sale of real estate |  | - |  |  |  | (43 | )
Depreciation and amortization (2) |  | 1,703 |  |  |  | 1,598 |
Earnings of equity method investments, less dividends received |  | (120 | ) |  |  | (52 | )
Deferred taxes |  | 94 |  |  |  | 3 |
Stock-based compensation expense |  | 218 |  |  |  | 236 |
Increase in working capital |  | (1,353 | ) |  |  | (1,814 | )
Other |  | (18 | ) |  |  | 10 |
Cash flow from operations |  | 3,615 |  |  |  | 2,106 |
Capital expenditures |  | (1,345 | ) |  |  | (1,046 | )
APS investments |  | (391 | ) |  |  | (420 | )
Exploration data costs capitalized |  | (121 | ) |  |  | (77 | )
Free cash flow (3) |  | 1,758 |  |  |  | 563 |
Dividends paid |  | (961 | ) |  |  | (600 | )
Stock repurchase program |  | (594 | ) |  |  | - |
Proceeds from employee stock plans |  | 191 |  |  |  | 142 |
Proceeds from stock options |  | 85 |  |  |  | 29 |
Taxes paid on net settled stock-based compensation awards |  | (162 | ) |  |  | (92 | )
Business acquisitions and investments, net of cash acquired |  | (280 | ) |  |  | (45 | )
Proceeds from sale of Liberty shares |  | 137 |  |  |  | 513 |
Proceeds from sale of real estate |  | - |  |  |  | 120 |
Other |  | (272 | ) |  |  | (118 | )
(Increase) decrease in net debt before impact of changes in foreign exchange rates |  | (98 | ) |  |  | 512 |
Impact of changes in foreign exchange rates on net debt |  | 20 |  |  |  | 802 |
(Increase) decrease in net debt |  | (78 | ) |  |  | 1,314 |
Net debt, beginning of period (1) |  | (9,332 | ) |  |  | (11,056 | )
Net debt, end of period (1) | $ | (9,410 | ) |  | $ | (9,742 | )

19

(1)
“Net debt” represents gross debt less cash and short-term investments. Management believes that Net debt provides useful information regarding the level of SLB’s indebtedness by reflecting cash and investments that could be used to repay debt. Net debt is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, total debt.
(2)
Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.
(3)
“Free cash flow” represents cash flow from operations less capital expenditures, APS investments and exploration data costs capitalized. Management believes that free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of our ability to generate cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. Free cash flow does not represent the residual cash flow available for discretionary expenditures. Free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations.

Key liquidity events during the first nine months of 2023 and 2022 included:

•
Capital investments (consisting of capital expenditures, APS investments and exploration data capitalized) were $1.9 billion during the first nine months of 2023 compared to $1.5 billion during the first nine months of 2022. Capital investments for the full year 2023 are expected to be approximately $2.5 to $2.6 billion as compared to $2.3 billion for the full year 2022.
•
During the second quarter of 2023, SLB issued $500 million of 4.50% Senior Notes due 2028 and $500 million of 4.85% Senior Notes due 2033.
•
During the first quarter of 2023, SLB sold all of its remaining approximately 9 million shares in Liberty and received proceeds of $137 million.
•
As of September 30, 2023, SLB had cumulatively repurchased $1.6 billion of SLB common stock under its $10 billion share repurchase program. SLB repurchased approximately 11.5 million shares of its common stock under this program during the first nine months of 2023 for a total purchase price of $594 million. SLB did not repurchase any of its common stock during the first nine months of 2022.

As of September 30, 2023, SLB had $3.74 billion of cash and short-term investments on hand and committed debt facility agreements with commercial banks aggregating $6.54 billion, all of which was available and unused. SLB believes these amounts are sufficient to meet future business requirements for at least the next 12 months and beyond.

There were no borrowings under SLB's commercial paper programs at September 30, 2023.

SLB has a global footprint in more than 100 countries. As of September 30, 2023, only four of those countries individually accounted for greater than 5% of SLB’s net receivable balance. Two of these countries, the United States and Mexico, each represented greater than 10% of such receivables.

Included in Receivables, less allowance for doubtful accounts in the Consolidated Balance Sheet as of September 30, 2023 was approximately $1.2 billion of receivables relating to Mexico. SLB’s receivables from its primary customer in Mexico are not in dispute and SLB has not historically had any material write-offs due to uncollectible accounts receivable relating to this customer.

Additional Information

On October 2, 2023, SLB, Aker Solutions and Subsea7 closed their previously announced joint venture. The new business, OneSubsea, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time. OneSubsea now comprises SLB’s and Aker Solution’s subsea businesses, which include an extensive complementary subsea production and processing technology portfolio, world-class manufacturing scale and capacity, access to industry-leading reservoir and digital domain expertise, unique pore-to-process integration capabilities, and strengthened research and development capabilities.

In addition to contributing its subsea business to the joint venture, at closing SLB issued to Aker Solutions 5.1 million shares of SLB common stock valued at $306.5 million. Concurrently, Subsea7 purchased its 10% interest in exchange for $306.5 million in cash to Aker Solutions. The joint venture also issued a promissory note to Aker Solutions for $87.5 million. SLB owns 70% of the joint venture, and will consolidate it for financial reporting purposes, while Aker Solutions owns 20% and Subsea7 owns 10%.

Aker Solutions reported revenue for its subsea business of approximately $1.5 billion for the year ended December 31, 2022 and $0.9 billion for the six months ended June 30, 2023. As this transaction closed subsequent to the end of the third quarter of 2023, the Consolidated Financial Statements do not reflect any amounts relating to the acquired Aker Solutions subsea business. Additionally, because this transaction just recently closed, the initial purchase accounting has not yet been completed.

In March 2022, SLB decided to immediately suspend new investment and technology deployment to its Russia operations. In July 2023, SLB announced that it was halting shipments of products and technology into Russia from all SLB facilities worldwide in response to the continued expansion of international sanctions. This follows SLB’s previous ban on shipments from SLB facilities in the United States, United Kingdom, the European Union and Canada into Russia. Russia represented approximately 5% of SLB’s worldwide revenue during the first nine months of 2023. The carrying value of SLB’s net assets in Russia was approximately $0.7 billion as of September 30, 2023. This consisted of $0.2 billion of receivables, $0.3 billion of fixed assets, $0.5 billion of other assets and $0.3 billion of current liabilities.

20

SLB continues to actively monitor the dynamic situation in Ukraine and applicable laws, sanctions, and trade control restrictions resulting from the conflict. The extent to which SLB’s operations and financial results may be affected by the ongoing conflict in Ukraine will depend on various factors, including the extent and duration of the conflict; the effects of the conflict on regional and global economic and geopolitical conditions; the effect of further laws, sanctions, and trade control restrictions on SLB’s business, the global economy and global supply chains; and the impact of fluctuations in the exchange rate of the ruble. Continuation or escalation of the conflict may also aggravate the risk factors that SLB identified in its Annual Report on Form 10-K for the year ended December 31, 2022, including cybersecurity, regulatory, and reputational risks.

FORWARD-LOOKING STATEMENTS

This third-quarter 2023 Form 10-Q, as well as other statements we make, contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “outlook,” “expectations,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “scheduled,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about SLB’s financial and performance targets and other forecasts or expectations regarding, or dependent on, its business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas or technologies within each Division); oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; capital expenditures by SLB and the oil and gas industry; the business strategies of SLB, including digital and “fit for basin,” as well as the strategies of SLB’s customers; SLB’s capital allocation plans, including dividend plans and share repurchase programs; SLB’s APS projects, joint ventures, and other alliances; the impact of the ongoing conflict in Ukraine on global energy supply; access to raw materials; future global economic and geopolitical conditions; future liquidity, including free cash flow; and future results of operations, such as margin levels. These statements are subject to risks and uncertainties, including, but not limited to, changing global economic and geopolitical conditions; changes in exploration and production spending by SLB’s customers and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of SLB’s customers and suppliers; SLB’s inability to achieve its financial and performance targets and other forecasts and expectations; SLB’s inability to achieve net-zero carbon emissions goals or interim emissions reduction goals; general economic, geopolitical and business conditions in key regions of the world; the ongoing conflict in Ukraine; foreign currency risk; inflation; changes in monetary policy by governments; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays or cancellations; challenges in SLB’s supply chain; production declines; the extent of future charges; SLB’s inability to recognize efficiencies and other intended benefits from its business strategies and initiatives, such as digital or new energy, as well as its cost reduction strategies; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this Form 10-Q and our most recent Form 10-K and Forms 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this Form 10-Q regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this Form 10-Q are made as of October 25, 2023, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Item 3. Quantitative and Qualitati ve Disclosures about Market Risk.

For quantitative and qualitative disclosures about market risk affecting SLB, see Item 7A, “Quantitative and Qualitative Disclosures about Market Risk,” of the SLB Annual Report on Form 10-K for the fiscal year ended December 31, 2022. SLB’s exposure to market risk has not changed materially since December 31, 2022.

Item 4. Cont rols and Procedures.

SLB has carried out an evaluation under the supervision and with the participation of SLB’s management, including the Chief Executive Officer (“CEO”) and the Chief Financial Officer (“CFO”), of the effectiveness of SLB’s “disclosure controls and procedures” (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) as of the end of the period covered by this report. Based on this evaluation, the CEO and the CFO have concluded that, as of the end of the period covered by this report, SLB’s disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed in the reports that SLB files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. SLB’s disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is accumulated and communicated to its management, including the CEO and the CFO, as appropriate, to allow timely decisions regarding required disclosure. There was no change in SLB’s internal control over financial reporting during the quarter to which this report relates that has materially affected, or is reasonably likely to materially affect, SLB’s internal control over financial reporting.

21

PART II. OTHER INFORMATION

I tem 1. Legal Proceedings.

The information with respect to this Item 1 is set forth under Note 9—Contingencies, in the accompanying Consolidated Financial Statements.

Item 1A. R isk Factors.

As of the date of this filing, there have been no material changes from the risk factors disclosed in Part 1, Item 1A, of SLB’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

Item 2. Unregistered Sales of Equit y Securities and Use of Proceeds.

Unregistered Sales of Equity Securities

None.

Issuer Repurchases of Equity Securities

On January 21, 2016, the SLB Board of Directors approved a $10 billion share repurchase program for SLB common stock. As of September 30, 2023, SLB had repurchased $1.6 billion of SLB common stock under this program.

SLB's common stock repurchase activity for the three months ended September 30, 2023 was as follows:

| (Stated in thousands, except per share amounts) |
| Total number of shares purchased |  |  | Average price paid per share |  |  | Total number of shares purchased as part of publicly announced plans or programs |  |  | Maximum value of shares that may yet be purchased under the plans or programs |
July 2023 |  | 930.2 |  |  | $ | 54.61 |  |  |  | 930.2 |  |  | $ | 8,478,147 |
August 2023 |  | 999.7 |  |  | $ | 57.97 |  |  |  | 999.7 |  |  | $ | 8,420,189 |
September 2023 |  | 691.1 |  |  | $ | 57.46 |  |  |  | 691.1 |  |  | $ | 8,378,332 |
|  | 2,621.0 |  |  | $ | 57.46 |  |  |  | 2,621.0 |  |  |  |

I tem 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Our mining operations are subject to regulation by the federal Mine Safety and Health Administration under the Federal Mine Safety and Health Act of 1977. Information concerning mine safety violations or other regulatory matters required by section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this report.

I tem 5. Other Information.

In 2013, SLB completed the wind down of its service operations in Iran. Prior to this, certain non-US subsidiaries provided oilfield services to the National Iranian Oil Company and certain of its affiliates (“NIOC”).

SLB’s residual transactions or dealings with the government of Iran during the third quarter of 2023 consisted of payments of taxes and other typical governmental charges. Certain non-US subsidiaries of SLB maintain depository accounts at the Dubai branch of Bank Saderat Iran (“Saderat”), and at Bank Tejarat (“Tejarat”) in Tehran and in Kish for the deposit by NIOC of amounts owed to non-US subsidiaries of SLB for prior services rendered in Iran and for the maintenance of such amounts previously received. One non-US subsidiary also maintained an account at Tejarat for payment of local expenses such as taxes. SLB anticipates that it will discontinue dealings with Saderat and Tejarat following the receipt of all amounts owed to SLB for prior services rendered in Iran.

22

Item 6. Exhibits.

Exhibit 3.1—Articles of Incorporation of Schlumberger Limited (Schlumberger N.V.) (incorporated by reference to Exhibit 3.1 to SLB’s Current Report on Form 8-K filed on April 6, 2016)
Exhibit 3.2—Amended and Restated By-Laws of Schlumberger Limited (Schlumberger N.V.) (incorporated by reference to Exhibit 3 to SLB’s Current Report on Form 8-K filed on April 21, 2023)
* (+) Exhibit 10.1—Schlumberger Limited Supplementary Benefit Plan, as established effective June 1, 1995 and conformed to include amendments through January 1, 2023
* (+) Exhibit 10.2—Schlumberger Limited Restoration Savings Plan, as established effective June 1, 1995 and conformed to include amendments through January 1, 2023
* Exhibit 22—Issuers of Registered Guaranteed Debt Securities
* Exhibit 31.1—Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
* Exhibit 31.2—Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
** Exhibit 32.1—Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
** Exhibit 32.2—Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
* Exhibit 95—Mine Safety Disclosures
* Exhibit 101.INS—Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document
* Exhibit 101.SCH—Inline XBRL Taxonomy Extension Schema Document
* Exhibit 101.CAL—Inline XBRL Taxonomy Extension Calculation Linkbase Document
* Exhibit 101.DEF—Inline XBRL Taxonomy Extension Definition Linkbase Document
* Exhibit 101.LAB—Inline XBRL Taxonomy Extension Label Linkbase Document
* Exhibit 101.PRE—Inline XBRL Taxonomy Extension Presentation Linkbase Document
* Exhibit 104—Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed with this Form 10-Q.

** Furnished with this Form 10-Q.

(+) Management contracts or compensatory plans or arrangements.

23

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

|  |  | SCHLUMBERGER LIMITED
Date: | October 25, 2023 |  | /s/ Howard Guild
|  |  | Howard Guild
|  |  | Chief Accounting Officer and Duly Authorized Signatory

24