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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 16. Segment Information SLB is organized under four Divisions that combine and integrate SLB’s technologies, enhancing the Company’s ability to support the emerging long-term growth opportunities in each of these market segments. The four Divisions, representing SLB’s segments, are: • Digital & Integration – Combines SLB’s industry-leading digital solutions and data products with its integrated offering of Asset Performance Solutions. • Reservoir Performance – Consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance. • Well Construction – Combines the full portfolio of products and services to optimize well placement and performance, maximize drilling efficiency, and improve wellbore assurance. • Production Systems – Develops technologies and provides expertise that enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries. Financial information by segment is as follows:
|  |  |  | (Stated in millions) |
| 2024 |
|  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |
|  |  |  | Pretax |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 4,247 |  |  | $ | 1,408 |  |  | $ | 3,117 |  |  | $ | 654 |  |  | $ | 682 |
Reservoir Performance |  | 7,177 |  |  |  | 1,452 |  |  |  | 3,802 |  |  |  | 403 |  |  |  | 624 |
Well Construction |  | 13,357 |  |  |  | 2,826 |  |  |  | 6,741 |  |  |  | 649 |  |  |  | 745 |
Production Systems |  | 12,143 |  |  |  | 1,898 |  |  |  | 7,116 |  |  |  | 348 |  |  |  | 418 |
Eliminations & other |  | (635 | ) |  |  | (263 | ) |  |  | 1,247 |  |  |  | 287 |  |  |  | 143 |
Goodwill and intangible assets |  |  |  |  |  |  |  | 17,605 |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  | 4,669 |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  | 4,638 |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  | (744 | ) |  |  |  |  |  | 178 |  |  |  |
Interest income (2) |  |  |  |  | 134 |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  | (498 | ) |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  | (541 | ) |  |  |  |  |  |  |  |  |
| $ | 36,289 |  |  | $ | 5,672 |  |  | $ | 48,935 |  |  | $ | 2,519 |  |  | $ | 2,612 |
|  |  |  | (Stated in millions) |
| 2023 |
|  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |
|  |  |  | Pretax |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 3,871 |  |  | $ | 1,257 |  |  | $ | 3,089 |  |  | $ | 578 |  |  | $ | 660 |
Reservoir Performance |  | 6,561 |  |  |  | 1,263 |  |  |  | 3,491 |  |  |  | 387 |  |  |  | 514 |
Well Construction |  | 13,478 |  |  |  | 2,932 |  |  |  | 7,129 |  |  |  | 587 |  |  |  | 908 |
Production Systems |  | 9,831 |  |  |  | 1,245 |  |  |  | 6,640 |  |  |  | 325 |  |  |  | 384 |
Eliminations & other |  | (606 | ) |  |  | (174 | ) |  |  | 1,352 |  |  |  | 277 |  |  |  | 133 |
Goodwill and intangible assets |  |  |  |  |  |  |  | 17,323 |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  | 3,989 |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  | 4,944 |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  | (729 | ) |  |  |  |  |  | 158 |  |  |  |
Interest income (2) |  |  |  |  | 87 |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  | (489 | ) |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  | (110 | ) |  |  |  |  |  |  |  |  |
| $ | 33,135 |  |  | $ | 5,282 |  |  | $ | 47,957 |  |  | $ | 2,312 |  |  | $ | 2,599 |
|  |  |  | (Stated in millions) |
| 2022 |
|  |  |  |  |  |  |  |  |  | Depreciation |  |  |  |
|  |  |  | Pretax |  |  |  |  |  | and |  |  | Capital |
| Revenue |  |  | Income |  |  | Assets |  |  | Amortization |  |  | Investments |
Digital & Integration | $ | 3,725 |  |  | $ | 1,357 |  |  | $ | 3,132 |  |  | $ | 504 |  |  | $ | 689 |
Reservoir Performance |  | 5,553 |  |  |  | 881 |  |  |  | 3,159 |  |  |  | 386 |  |  |  | 478 |
Well Construction |  | 11,397 |  |  |  | 2,202 |  |  |  | 6,481 |  |  |  | 524 |  |  |  | 687 |
Production Systems |  | 7,862 |  |  |  | 748 |  |  |  | 5,603 |  |  |  | 311 |  |  |  | 346 |
Eliminations & other |  | (446 | ) |  |  | (177 | ) |  |  | 1,426 |  |  |  | 271 |  |  |  | 102 |
Goodwill and intangible assets |  |  |  |  |  |  |  | 15,974 |  |  |  |  |  |  |
Cash and short-term investments |  |  |  |  |  |  |  | 2,897 |  |  |  |  |  |  |
All other assets |  |  |  |  |  |  |  | 4,463 |  |  |  |  |  |  |
Corporate & other (1) |  |  |  |  | (637 | ) |  |  |  |  |  | 151 |  |  |  |
Interest income (2) |  |  |  |  | 27 |  |  |  |  |  |  |  |  |  |
Interest expense (3) |  |  |  |  | (477 | ) |  |  |  |  |  |  |  |  |
Charges & credits (4) |  |  |  |  | 347 |  |  |  |  |  |  |  |  |  |
| $ | 28,091 |  |  | $ | 4,271 |  |  | $ | 43,135 |  |  | $ | 2,147 |  |  | $ | 2,302 |
(1) Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2) Interest income excludes amounts which are included in the segments’ income (2024: $39 million; 2023: $12 million; 2022: $72 million). (3) Interest expense excludes amounts which are included in the segments’ income (2024: $14 million; 2023: $14 million; 2022: $13 million). (4) See Note 3 – Charges and Credits. Segment assets consist of receivables, inventories, fixed assets, exploration data, and APS investments. Capital investments includes capital expenditures, APS investments, and exploration data cost capitalized. Depreciation and amortization includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments. Revenue by geographic area for the years ended December 31, 2024, 2023, and 2022 was as follows:
(Stated in millions) |
| 2024 |  |  | 2023 |  |  | 2022 |
North America | $ | 6,680 |  |  | $ | 6,727 |  |  | $ | 5,995 |
Latin America |  | 6,719 |  |  |  | 6,645 |  |  |  | 5,661 |
Europe & Africa * |  | 9,671 |  |  |  | 8,524 |  |  |  | 7,201 |
Middle East & Asia |  | 13,026 |  |  |  | 11,019 |  |  |  | 9,033 |
Eliminations & other |  | 193 |  |  |  | 220 |  |  |  | 201 |
| $ | 36,289 |  |  | $ | 33,135 |  |  | $ | 28,091 |
* Includes Russia and the Caspian region Revenue is based on the location where services are provided and products are sold. SLB did not have revenue from third-party customers in its country of domicile during the last three years. Revenue in the United States in 2024, 2023, and 2022 was $5.3 billion, $5.4 billion, and $4.6 billion, respectively. North America and International revenue disaggregated by segment was as follows:
(Stated in millions) |
| 2024 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 1,115 |  |  | $ | 3,127 |  |  | $ | 5 |  |  | $ | 4,247 |
Reservoir Performance |  | 548 |  |  |  | 6,622 |  |  |  | 7 |  |  |  | 7,177 |
Well Construction |  | 2,359 |  |  |  | 10,776 |  |  |  | 222 |  |  |  | 13,357 |
Production Systems |  | 2,725 |  |  |  | 9,386 |  |  |  | 32 |  |  |  | 12,143 |
Eliminations & other |  | (67 | ) |  |  | (496 | ) |  |  | (72 | ) |  |  | (635 | )
| $ | 6,680 |  |  | $ | 29,415 |  |  | $ | 194 |  |  | $ | 36,289 |
(Stated in millions) |
| 2023 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 984 |  |  | $ | 2,881 |  |  | $ | 6 |  |  | $ | 3,871 |
Reservoir Performance |  | 498 |  |  |  | 6,057 |  |  |  | 6 |  |  |  | 6,561 |
Well Construction |  | 2,709 |  |  |  | 10,530 |  |  |  | 239 |  |  |  | 13,478 |
Production Systems |  | 2,598 |  |  |  | 7,219 |  |  |  | 14 |  |  |  | 9,831 |
Eliminations & other |  | (62 | ) |  |  | (499 | ) |  |  | (45 | ) |  |  | (606 | )
| $ | 6,727 |  |  | $ | 26,188 |  |  | $ | 220 |  |  | $ | 33,135 |
(Stated in millions) |
| 2022 |
| North America |  |  | International |  |  | Other |  |  | Total |
Digital & Integration | $ | 1,069 |  |  | $ | 2,651 |  |  | $ | 5 |  |  | $ | 3,725 |
Reservoir Performance |  | 455 |  |  |  | 5,091 |  |  |  | 7 |  |  |  | 5,553 |
Well Construction |  | 2,311 |  |  |  | 8,875 |  |  |  | 211 |  |  |  | 11,397 |
Production Systems |  | 2,176 |  |  |  | 5,675 |  |  |  | 11 |  |  |  | 7,862 |
Eliminations & other |  | (16 | ) |  |  | (397 | ) |  |  | (33 | ) |  |  | (446 | )
| $ | 5,995 |  |  | $ | 21,895 |  |  | $ | 201 |  |  | $ | 28,091 |
Fixed Assets less accumulated depreciation by geographic area was as follows:
(Stated in millions) |
| 2024 |  |  | 2023 |
North America | $ | 1,805 |  |  | $ | 1,728 |
Latin America |  | 1,044 |  |  |  | 1,079 |
Europe & Africa |  | 1,721 |  |  |  | 1,804 |
Middle East & Asia |  | 2,789 |  |  |  | 2,629 |
| $ | 7,359 |  |  | $ | 7,240 |
Significant segment expenses, which represents the difference between segment revenue and pretax segment income, consist of the following:
(Stated in millions) |
| 2024 |
| Digital & |  |  | Reservoir |  |  | Well |  |  | Production |
| Integration |  |  | Performance |  |  | Construction |  |  | Systems |
Compensation | $ | 811 |  |  | $ | 1,638 |  |  | $ | 2,587 |  |  | $ | 1,043 |
Cost of products, materials, and supplies |  | - |  |  |  | 1,232 |  |  |  | 3,579 |  |  |  | 7,610 |
Depreciation and amortization |  | 654 |  |  |  | 403 |  |  |  | 649 |  |  |  | 348 |
Allocations |  | 426 |  |  |  | 668 |  |  |  | 1,011 |  |  |  | 529 |
Other |  | 948 |  |  |  | 1,784 |  |  |  | 2,705 |  |  |  | 715 |
| $ | 2,839 |  |  | $ | 5,725 |  |  | $ | 10,531 |  |  | $ | 10,245 |
(Stated in millions) |
| 2023 |
| Digital & |  |  | Reservoir |  |  | Well |  |  | Production |
| Integration |  |  | Performance |  |  | Construction |  |  | Systems |
Compensation | $ | 806 |  |  | $ | 1,501 |  |  | $ | 2,526 |  |  | $ | 1,104 |
Cost of products, materials, and supplies |  | - |  |  |  | 1,157 |  |  |  | 3,673 |  |  |  | 5,946 |
Depreciation and amortization |  | 578 |  |  |  | 387 |  |  |  | 587 |  |  |  | 325 |
Allocations |  | 424 |  |  |  | 605 |  |  |  | 943 |  |  |  | 492 |
Other |  | 806 |  |  |  | 1,648 |  |  |  | 2,817 |  |  |  | 719 |
| $ | 2,614 |  |  | $ | 5,298 |  |  | $ | 10,546 |  |  | $ | 8,586 |
(Stated in millions) |
| 2022 |
| Digital & |  |  | Reservoir |  |  | Well |  |  | Production |
| Integration |  |  | Performance |  |  | Construction |  |  | Systems |
Compensation | $ | 751 |  |  | $ | 1,366 |  |  | $ | 2,247 |  |  | $ | 976 |
Cost of products, materials, and supplies |  | - |  |  |  | 977 |  |  |  | 3,273 |  |  |  | 4,732 |
Depreciation and amortization |  | 504 |  |  |  | 386 |  |  |  | 524 |  |  |  | 311 |
Allocations |  | 406 |  |  |  | 571 |  |  |  | 828 |  |  |  | 470 |
Other |  | 707 |  |  |  | 1,372 |  |  |  | 2,323 |  |  |  | 625 |
| $ | 2,368 |  |  | $ | 4,672 |  |  | $ | 9,195 |  |  | $ | 7,114 |
Other segment expenses include transportation, mobilization, lease, occupancy, professional, and other costs. SLB's chief operating decision maker is its Chief Executive Officer who uses pretax segment income to assess the performance of each segment.

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