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. |