Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2017shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | SLB |
Entity Registrant Name | SCHLUMBERGER LIMITED/NV |
Entity Central Index Key | 87,347 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,384,524,170 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME (LOSS) (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenue | ||||
Services | $ 5,477 | $ 4,955 | $ 10,414 | $ 10,718 |
Product sales | 1,985 | 2,209 | 3,942 | 2,966 |
Total Revenue | 7,462 | 7,164 | 14,356 | 13,684 |
Interest & other income | 62 | 54 | 108 | 98 |
Expenses | ||||
Cost of services | 4,624 | 4,332 | 8,875 | 9,127 |
Cost of sales | 1,844 | 2,133 | 3,669 | 2,798 |
Research & engineering | 196 | 257 | 406 | 497 |
General & administrative | 110 | 103 | 208 | 213 |
Impairments & other | 510 | 2,573 | 510 | 2,573 |
Merger & integration | 81 | 185 | 164 | 185 |
Interest | 142 | 149 | 281 | 282 |
Income (loss) before taxes | 17 | (2,514) | 351 | (1,893) |
Taxes on income (loss) | 98 | (368) | 148 | (270) |
Net income (loss) | (81) | (2,146) | 203 | (1,623) |
Net income (loss) attributable to noncontrolling interests | (7) | 14 | (2) | 36 |
Net income (loss) attributable to Schlumberger | $ (74) | $ (2,160) | $ 205 | $ (1,659) |
Basic earnings (loss) per share of Schlumberger | $ (0.05) | $ (1.56) | $ 0.15 | $ (1.26) |
Diluted earnings (loss) per share of Schlumberger | $ (0.05) | $ (1.56) | $ 0.15 | $ (1.26) |
Average shares outstanding: | ||||
Basic | 1,387 | 1,389 | 1,390 | 1,321 |
Assuming dilution | 1,387 | 1,389 | 1,397 | 1,321 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income (loss) | $ (81) | $ (2,146) | $ 203 | $ (1,623) |
Currency translation adjustments | ||||
Unrealized net change arising during the period | (71) | (70) | (26) | (51) |
Marketable securities | ||||
Unrealized gain (loss) arising during the period | (21) | (25) | 3 | |
Cash flow hedges | ||||
Net gain (loss) on cash flow hedges | 17 | 11 | (68) | |
Reclassification to net income (loss) of net realized loss (gain) | 8 | (14) | 8 | 80 |
Actuarial loss | ||||
Amortization to net income (loss) of net actuarial loss | 36 | 34 | 79 | 79 |
Prior service cost | ||||
Amortization to net income (loss) of net prior service cost | 20 | 26 | 40 | 51 |
Income taxes on pension and other postretirement benefit plans | (1) | (7) | (2) | (14) |
Comprehensive income (loss) | (110) | (2,160) | 288 | (1,543) |
Comprehensive income (loss) attributable to noncontrolling interests | (7) | 14 | (2) | 36 |
Comprehensive income (loss) attributable to Schlumberger | $ (103) | $ (2,174) | $ 290 | $ (1,579) |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash | $ 1,903 | $ 2,929 |
Short-term investments | 4,315 | 6,328 |
Receivables less allowance for doubtful accounts (2017 - $345; 2016 - $397) | 8,925 | 9,387 |
Inventories | 4,338 | 4,225 |
Other current assets | 1,792 | 1,058 |
Current assets total | 21,273 | 23,927 |
Fixed Income Investments, held to maturity | 13 | 238 |
Investments in Affiliated Companies | 1,553 | 1,243 |
Fixed Assets less accumulated depreciation | 12,358 | 12,821 |
Multiclient Seismic Data | 1,042 | 1,073 |
Goodwill | 25,058 | 24,990 |
Intangible Assets | 9,636 | 9,855 |
Other Assets | 3,929 | 3,809 |
Total Assets | 74,862 | 77,956 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 9,444 | 10,016 |
Estimated liability for taxes on income | 1,159 | 1,188 |
Short-term borrowings and current portion of long-term debt | 2,224 | 3,153 |
Dividends payable | 700 | 702 |
Current Liabilities Total | 13,527 | 15,059 |
Long-term Debt | 16,600 | 16,463 |
Postretirement Benefits | 1,385 | 1,495 |
Deferred Taxes | 2,000 | 1,880 |
Other Liabilities | 1,398 | 1,530 |
Total Liabilities | 34,910 | 36,427 |
Equity | ||
Common stock | 12,843 | 12,801 |
Treasury stock | (4,049) | (3,550) |
Retained earnings | 35,284 | 36,470 |
Accumulated other comprehensive loss | (4,558) | (4,643) |
Schlumberger stockholders' equity | 39,520 | 41,078 |
Noncontrolling interests | 432 | 451 |
Total equity | 39,952 | 41,529 |
Liabilities and stockholders equity | $ 74,862 | $ 77,956 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts on receivable | $ 345 | $ 397 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | ||
Cash flows from operating activities: | |||
Net income (loss) | $ 203 | $ (1,623) | |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | |||
Impairments and other charges | 674 | 2,908 | |
Depreciation and amortization | [1] | 1,975 | 2,080 |
Pension and other postretirement benefits expense | 52 | 92 | |
Stock-based compensation expense | 180 | 145 | |
Pension and other postretirement benefits funding | (74) | (83) | |
Earnings of equity method investments, less dividends received | (30) | (30) | |
Change in assets and liabilities: | |||
(Increase) decrease in receivables | [2] | (406) | 1,057 |
(Increase) decrease in inventories | [2] | (51) | 334 |
(Increase) decrease in other current assets | [2] | (123) | 92 |
Increase in other assets | [2] | (140) | (247) |
Decrease in accounts payable and accrued liabilities | [2] | (738) | (1,491) |
Decrease in estimated liability for taxes on income | [2] | (21) | (242) |
(Decrease) increase in other liabilities | [2] | (37) | 11 |
Other | [2] | 50 | (161) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,514 | 2,842 | |
Cash flows from investing activities: | |||
Capital expenditures | (884) | (998) | |
SPM investments | (328) | (729) | |
Multiclient seismic data costs capitalized | (190) | (333) | |
Business acquisitions and investments, net of cash acquired | (364) | (2,220) | |
Sale of investments, net | 2,245 | 3,476 | |
Other | (61) | 26 | |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 418 | (778) | |
Cash flows from financing activities: | |||
Dividends paid | (1,393) | (1,255) | |
Proceeds from employee stock purchase plan | 96 | 116 | |
Proceeds from exercise of stock options | 47 | 79 | |
Stock repurchase program | (770) | (506) | |
Proceeds from issuance of long-term debt | 625 | 3,560 | |
Repayment of long-term debt | (475) | (3,401) | |
Net decrease in short-term borrowings | (1,097) | (564) | |
Other | (2) | 48 | |
NET CASH USED IN FINANCING ACTIVITIES | (2,969) | (1,923) | |
Net (decrease) increase in cash before translation effect | (1,037) | 141 | |
Translation effect on cash | 11 | 13 | |
Cash, beginning of period | 2,929 | 2,793 | |
Cash, end of period | $ 1,903 | $ 2,947 | |
[1] | Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments. | ||
[2] | Net of the effect of business acquisitions. |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Cameron | Common Stock Issued | Common Stock IssuedCameron | Common Stock In Treasury | Common Stock In TreasuryCameron | Retained Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interests | Noncontrolling InterestsCameron |
Balance at Dec. 31, 2015 | $ 35,905 | $ 12,693 | $ (13,372) | $ 40,870 | $ (4,558) | $ 272 | ||||
Net income (loss) | (1,623) | (1,659) | 36 | |||||||
Currency translation adjustments | (51) | (51) | ||||||||
Changes in unrealized gain on marketable securities | 3 | 3 | ||||||||
Changes in fair value of cash flow hedges | 12 | 12 | ||||||||
Pension and other postretirement benefit plans | 116 | 116 | ||||||||
Shares sold to optionees, less shares exchanged | 79 | (38) | 117 | |||||||
Vesting of restricted stock | (63) | 63 | ||||||||
Shares issued under employee stock purchase plan | 116 | (19) | 135 | |||||||
Stock repurchase program | (506) | (506) | ||||||||
Stock-based compensation expense | 145 | 145 | ||||||||
Dividends declared | (1,322) | (1,322) | ||||||||
Shares issued for acquisition | $ 10,084 | $ 103 | $ 9,924 | $ 57 | ||||||
Other | 21 | 14 | 3 | 4 | ||||||
Balance at Jun. 30, 2016 | 42,979 | 12,835 | (3,636) | 37,889 | (4,478) | 369 | ||||
Balance at Dec. 31, 2016 | $ 41,529 | $ 12,801 | (3,550) | 36,470 | (4,643) | 451 | ||||
Balance, shares at Dec. 31, 2016 | 1,391 | 1,434 | ||||||||
Treasury shares, Balance at Dec. 31, 2016 | (43) | |||||||||
Net income (loss) | $ 203 | 205 | (2) | |||||||
Currency translation adjustments | (26) | (26) | ||||||||
Changes in unrealized gain on marketable securities | (25) | (25) | ||||||||
Changes in fair value of cash flow hedges | 19 | 19 | ||||||||
Pension and other postretirement benefit plans | 117 | 117 | ||||||||
Shares sold to optionees, less shares exchanged | $ 47 | $ (33) | $ 80 | |||||||
Shares sold to optionees, less shares exchanged, shares | 1 | 1 | ||||||||
Vesting of restricted stock | (80) | $ 80 | ||||||||
Vesting of restricted stock, shares | 1 | 1 | ||||||||
Shares issued under employee stock purchase plan | $ 96 | (12) | $ 108 | |||||||
Shares issued under employee stock purchase plan, shares | 2 | 2 | ||||||||
Stock repurchase program | $ (770) | $ (770) | ||||||||
Stock repurchase program, shares | (10) | (10) | ||||||||
Stock-based compensation expense | $ 180 | 180 | ||||||||
Dividends declared | (1,391) | (1,391) | ||||||||
Other | (27) | (13) | $ 3 | (17) | ||||||
Balance at Jun. 30, 2017 | $ 39,952 | $ 12,843 | $ (4,049) | $ 35,284 | $ (4,558) | $ 432 | ||||
Balance, shares at Jun. 30, 2017 | 1,385 | 1,434 | ||||||||
Treasury shares, Balance at Jun. 30, 2017 | (49) |
CONSOLIDATED STATEMENT OF EQUI8
CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) (Unaudited) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Retained Earnings | ||
Dividends declared, per share | $ 1 | $ 1 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | 1. Basis of Presentation The accompanying unaudited consolidated financial statements of Schlumberger Limited and its subsidiaries (Schlumberger) 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 Schlumberger 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 six-month period ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2017. The December 31, 2016 balance sheet information has been derived from the Schlumberger 2016 audited financial statements. For further information, refer to the Consolidated Financial Statements New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases Consolidated Balance Sheet |
Charges and Credits
Charges and Credits | 6 Months Ended |
Jun. 30, 2017 | |
Restructuring And Related Activities [Abstract] | |
Charges and Credits | 2. Charges and Credits Schlumberger recorded the following charges and credits during the first six months of 2017: Second quarter 2017: • During the second quarter of 2017, Schlumberger entered into a financing agreement with its primary customer in Venezuela. This agreement resulted in the exchange of $700 million of outstanding accounts receivable for a promissory note with a three-year term that bears interest at the rate of 6.50% per annum. Schlumberger recorded this note at its estimated fair value on the date of the exchange, which resulted in a pretax and after-tax charge of $460 million. Schlumberger is accounting for the promissory note as an available-for-sale security reported at fair value in Other Assets, Accumulated other comprehensive loss During the second quarter of 2017, Schlumberger also entered into discussions with another customer relating to certain of its outstanding accounts receivable. As a result of these ongoing discussions, Schlumberger recorded a pretax charge of $50 million ($38 million after taxes and noncontrolling interests) to adjust these receivables to their estimated net realizable value. These charges are classified in Impairments & other Consolidated Statement of Income (Loss). • In connection with Schlumberger’s acquisition of Cameron (See Note 4 – Acquisition of Cameron Merger & integration Consolidated Statement of Income (Loss) First quarter of 2017: • In connection with Schlumberger’s acquisition of Cameron (See Note 4 – Acquisition of Cameron Merger & integration Consolidated Statement of Income (Loss) The following is a summary of the charges and credits recorded during the first six months of 2017: (Stated in millions) Noncontrolling Pretax Tax Interests Net Promissory note fair value adjustment and other $ 510 $ - $ 12 $ 498 Merger & integration 164 31 - 133 $ 674 $ 31 $ 12 $ 631 Schlumberger recorded the following charges and credits during the second quarter of 2016: • As a result of the persistent unfavorable oil and gas industry market conditions that continued to deteriorate in the first half of 2016, and the related impact on first-half operating results and expected customer activity levels, Schlumberger determined that the carrying values of certain assets were no longer recoverable and took certain decisions that resulted in the following impairments and other charges: - $646 million of severance costs associated with further headcount reductions. - $209 million impairment of pressure pumping equipment in North America. - $165 million impairment of facilities in North America. - $684 million of other fixed asset impairments primarily relating to other underutilized equipment. - $616 million write-down of the carrying value of certain inventory to its net realizable value. - $198 million impairment of certain multiclient seismic data, largely related to the US Gulf of Mexico. - $55 million of other costs, primarily relating to facility closure costs. The fair value of the impaired fixed assets and multiclient seismic data was estimated based on the projected present value of future cash flows that these assets are expected to generate. Such estimates included unobservable inputs that required significant judgments. Additional charges may be required in future periods should industry conditions worsen. The above items are classified in Impairments & other Consolidated Statement of Income (Loss) • In connection with Schlumberger’s acquisition of Cameron (see Note 4 – Acquisition of Cameron Merger & integration Consolidated Statement of Income (Loss), Cost of sales Consolidated Statement of Income (Loss) Merger & integration Cost of sales The following is a summary of the charges and credits recorded during the second quarter of 2016: (Stated in millions) Pretax Tax Net Impairments & other Workforce reduction $ 646 $ 63 $ 583 North America pressure pumping asset impairments 209 67 142 Facilities impairments 165 58 107 Other fixed asset impairments 684 52 632 Inventory write-downs 616 49 567 Multiclient seismic data impairment 198 62 136 Other restructuring charges 55 - 55 Merger & integration Merger-related employee benefits 47 7 40 Professional fees 45 10 35 Facility closure costs 40 10 30 Other merger and integration-related 53 9 44 Amortization of inventory fair value adjustment 150 45 105 $ 2,908 $ 432 $ 2,476 There were no charges or credits recorded during the first quarter of 2016. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 3. Earnings Per Share The following is a reconciliation from basic earnings per share of Schlumberger to diluted earnings per share of Schlumberger: (Stated in millions, except per share amounts) 2017 2016 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Loss Average Shares Outstanding Loss per Share Second Quarter Basic $ (74 ) 1,387 $ (0.05 ) $ (2,160 ) 1,389 $ (1.56 ) Assumed exercise of stock options - - - - Unvested restricted stock - - - - Diluted $ (74 ) 1,387 $ (0.05 ) $ (2,160 ) 1,389 $ (1.56 ) 2017 2016 Schlumberger Net Income Average Shares Outstanding Earnings per Share Schlumberger Net Loss Average Shares Outstanding Loss per Share Six Months Basic $ 205 $ 1,390 $ 0.15 $ (1,659 ) $ 1,321 $ (1.26 ) Assumed exercise of stock options - 2 - - Unvested restricted stock - 5 - - Diluted $ 205 $ 1,397 $ 0.15 $ (1,659 ) $ 1,321 $ (1.26 ) The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) 2017 2016 Second Quarter 49 49 Six Months 29 49 |
Acquisition of Cameron
Acquisition of Cameron | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Acquisition of Cameron | 4. Acquisition of Cameron On April 1, 2016, Schlumberger acquired all of the outstanding shares of Cameron, a leading provider of flow equipment products, systems and services to the oil and gas industry worldwide. Schlumberger issued approximately 138 million shares of its common stock, which were valued at $9.9 billion at the time of closing, and paid cash of $2.8 billion. Prior to being acquired by Schlumberger, Cameron reported revenue of approximately $1.6 billion during the first quarter of 2016. Supplemental Pro Forma Financial Information The following supplemental pro forma results of operations assume that Cameron had been acquired as of January 1, 2015. The supplemental pro forma financial information was prepared based on the historical financial information of Schlumberger and Cameron and has been adjusted to give effect to pro forma adjustments that are both directly attributable to the transaction and factually supportable. The pro forma amounts reflect certain adjustments to intangible asset amortization expense, interest and income taxes resulting from purchasing accounting. The pro forma amounts also reflect adjustments to the 2016 results to exclude the amortization of purchase accounting adjustments associated with the write-up of acquired inventory to its estimated fair value and other merger and integration costs of $254 million, net of taxes, for the three and six months ended June 30, 2016. The supplemental pro forma financial information presented below does not include any anticipated cost savings or the expected realization of other synergies associated with this transaction. Accordingly, this supplemental pro forma financial information is presented for informational purposes only and is not necessarily indicative of what the actual results of operations of the combined company would have been had the acquisition occurred on January 1, 2015, nor is it indicative of future results of operations. (Stated in millions, except per share amounts) 2016 Second Quarter Six Months Revenue $ 7,164 $ 15,312 Net loss attributable to Schlumberger $ (1,905 ) $ (1,290 ) Diluted loss per share $ (1.37 ) $ (0.93 ) |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | 5. Inventories A summary of inventories, which are stated at the lower of average cost or market, follows: (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Raw materials & field materials $ 1,701 $ 1,720 Work in progress 570 610 Finished goods 2,067 1,895 $ 4,338 $ 4,225 |
Fixed Assets
Fixed Assets | 6 Months Ended |
Jun. 30, 2017 | |
Property Plant And Equipment [Abstract] | |
Fixed Assets | 6. Fixed Assets A summary of fixed assets follows: (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Property, plant & equipment $ 40,073 $ 40,008 Less: Accumulated depreciation 27,715 27,187 $ 12,358 $ 12,821 Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2017 2016 Second Quarter $ 592 $ 744 Six Months $ 1,205 $ 1,426 |
Multiclient Seismic Data
Multiclient Seismic Data | 6 Months Ended |
Jun. 30, 2017 | |
Multiclient Seismic Data [Abstract] | |
Multiclient Seismic Data | 7. Multiclient Seismic Data The change in the carrying amount of multiclient seismic data for the six months ended June 30, 2017 was as follows: (Stated in millions) Balance at December 31, 2016 $ 1,073 Capitalized in period 190 Charged to expense (221 ) Balance at June 30, 2017 $ 1,042 |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 8. Intangible Assets The gross book value, accumulated amortization and net book value of intangible assets were as follows: (Stated in millions) Jun. 30, 2017 Dec. 31, 2016 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 4,944 $ 985 $ 3,959 $ 4,938 $ 865 $ 4,073 Technology/technical know-how 3,664 960 2,704 3,655 835 2,820 Tradenames 2,847 511 2,336 2,847 458 2,389 Other 1,222 585 637 1,122 549 573 $ 12,677 $ 3,041 $ 9,636 $ 12,562 $ 2,707 $ 9,855 Amortization expense charged to income was as follows: (Stated in millions) 2017 2016 Second Quarter $ 167 $ 160 Six Months $ 336 $ 249 Based on the net book value of intangible assets at June 30, 2017, amortization charged to income for the subsequent five years is estimated to be: remaining two quarters of 2017—$350 million; 2018—$681 million; 2019—$668 million; 2020—$621 million; 2021—$597 million; and 2022—$586 million. |
Long-term Debt
Long-term Debt | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Long-term Debt | 9. Long-term Debt A summary of Long-term Debt (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Commercial paper borrowings $ 2,833 $ 2,421 4.00% Senior Notes due 2025 1,741 1,740 3.30% Senior Notes due 2021 1,594 1,594 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,491 2.35% Senior Notes due 2018 1,298 1,297 4.20% Senior Notes due 2021 1,100 1,100 2.40% Senior Notes due 2022 996 996 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 680 622 1.50% Guaranteed Notes due 2019 580 536 6.38% Notes due 2018 294 297 7.00% Notes due 2038 213 214 4.50% Notes due 2021 136 137 5.95% Notes due 2041 115 116 3.60% Notes due 2022 110 110 5.13% Notes due 2043 99 99 4.00% Notes due 2023 82 83 3.70% Notes due 2024 56 56 Other 746 1,118 $ 16,600 $ 16,463 The estimated fair value of Schlumberger’s Long-term Debt, Borrowings under the commercial paper program at June 30, 2017 were $3.0 billion, of which $2.8 billion was classified within Long-term Debt Short-term borrowings and current portion of long-term debt Consolidated Balance Sheet Long-term debt Short-term borrowings and current portion of long-term debt Consolidated Balance Sheet |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 10. Derivative Instruments and Hedging Activities Schlumberger is exposed to market risks related to fluctuations in foreign currency exchange rates and interest rates. To mitigate these risks, Schlumberger utilizes derivative instruments. Schlumberger does not enter into derivative transactions for speculative purposes. Interest Rate Risk Schlumberger is subject to interest rate risk on its debt and its investment portfolio. Schlumberger maintains an interest rate risk management strategy that uses a mix of variable and fixed rate debt combined with its investment portfolio, and occasionally interest rate swaps, to mitigate the exposure to changes in interest rates. During 2013, Schlumberger entered into a cross currency swap for a notional amount of €0.5 billion in order to hedge changes in the fair value of Schlumberger’s €0.5 billion 1.50% Guaranteed Notes due 2019. Under the terms of this swap, Schlumberger will receive interest at a fixed rate of 1.50% on the euro notional amount and pay interest at a floating rate of three-month LIBOR plus approximately 64 basis points on the US dollar notional amount. This cross currency swap is designated as a fair value hedge of the underlying debt. This derivative instrument is marked to market with gains and losses recognized currently in income to largely offset the respective gains and losses recognized on changes in the fair value of the hedged debt. At June 30, 2017, Schlumberger had fixed rate debt of $13.9 billion and variable rate debt of $4.9 billion after taking into account the effect of the swap. Short-term investments and , totaled $4.3 billion at June 30, 2017. The carrying value of these investments approximated fair value, which was estimated using quoted market prices for those or similar investments. Foreign Currency Exchange Rate Risk As a multinational company, Schlumberger conducts its business in over 85 countries. Schlumberger’s functional currency is primarily the US dollar. However, outside the United States, a significant portion of Schlumberger’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 Schlumberger conducts business, the US dollar–reported expenses will increase (decrease). Schlumberger 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. Schlumberger is also exposed to risks on future cash flows relating to certain of its fixed rate debt that is denominated in currencies other than the functional currency. Schlumberger 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, with the effective portion of changes in the fair value of the hedge recorded on the Consolidated Balance Sheet Accumulated Other Comprehensive Loss. Accumulated Other Comprehensive Loss At June 30, 2017, Schlumberger recognized a cumulative net loss of $0.1 million in Accumulated other comprehensive loss Schlumberger is exposed to changes in the fair value of assets and liabilities that are denominated in currencies other than the functional currency. While Schlumberger uses foreign currency forward contracts and foreign currency options 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 contracts is recorded on the Consolidated Balance Sheet, Consolidated Statement of Income (Loss) At June 30, 2017, contracts were outstanding for the US dollar equivalent of $4.8 billion in various foreign currencies, of which $0.8 billion related to hedges of debt denominated in currencies other than the functional currency. The fair values of outstanding derivative instruments were as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification Jun. 30, Dec. 31, 2017 2016 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 5 $ 1 Other current assets Derivatives not designated as hedges: Foreign exchange contracts $ 18 $ 42 Other current assets $ 23 $ 43 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 3 $ 18 Accounts payable and accrued liabilities Cross currency swap 28 49 Other Liabilities $ 31 $ 67 Derivatives not designated as hedges: Foreign exchange contracts $ 28 $ 59 Accounts payable and accrued liabilities $ 59 $ 126 The fair value of all outstanding derivatives was determined using a model with inputs that are observable in the market or that can be derived from, or corroborated by, observable data. The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statement of Income (Loss) (Stated in millions) Gain (Loss) Recognized in Income (Loss) Second Quarter Six Months 2017 2016 2017 2016 Consolidated Statement of Income (Loss) Classification Derivatives designated as fair value hedges: Cross currency swap $ 29 $ (6 ) $ 47 $ 4 Interest Derivatives not designated as hedges: Foreign exchange contracts $ 1 $ (57 ) $ 7 $ (138 ) Cost of services/sales |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies | 11. Contingencies Schlumberger 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. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | 12. Segment Information (Stated in millions) Second Quarter 2017 Second Quarter 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,759 $ 299 $ 1,586 $ 268 Drilling 2,107 302 2,034 171 Production 2,496 221 2,121 82 Cameron 1,265 174 1,525 250 Eliminations & other (165 ) (46 ) (102 ) (24 ) Pretax operating income 950 747 Corporate & other (1) (242 ) (241 ) Interest income (2) 28 24 Interest expense (3) (128 ) (136 ) Charges and credits (4) (591 ) (2,908 ) $ 7,462 $ 17 $ 7,164 $ (2,514 ) (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 ($6 million in 2017; $6 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($14 million in 2017; $13 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. (Stated in millions) Six Months 2017 Six Months 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 3,377 $ 580 $ 3,305 $ 601 Drilling 4,092 531 4,527 542 Production 4,683 331 4,497 288 Cameron 2,494 336 1,525 250 Eliminations & other (290 ) (71 ) (170 ) (33 ) Pretax operating income 1,707 1,648 Corporate & other (1) (480 ) (414 ) Interest income (2) 52 37 Interest expense (3) (254 ) (256 ) Charges and credits (4) (674 ) (2,908 ) $ 14,356 $ 351 $ 13,684 $ (1,893 ) (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 ($11 million in 2017; $12 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($27 million in 2017; $26 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. |
Pension and Other Postretiremen
Pension and Other Postretirement Benefit Plans | 6 Months Ended |
Jun. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefit Plans | 13. Pension and Other Postretirement Benefit Plans Net pension cost for the Schlumberger pension plans included the following components: (Stated in millions) Second Quarter Six Months 2017 2016 2017 2016 US Int'l US Int'l US Int'l US Int'l Service cost $ 14 $ 19 $ 13 $ 19 $ 29 $ 48 $ 31 $ 56 Interest cost 44 75 45 77 88 153 89 157 Expected return on plan assets (62 ) (134 ) (58 ) (129 ) (122 ) (270 ) (118 ) (263 ) Amortization of prior service cost 3 24 3 31 6 48 6 61 Amortization of net loss 9 27 17 17 19 60 40 39 $ 8 $ 11 $ 20 $ 15 $ 20 $ 39 $ 48 $ 50 The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) Second Quarter Six Months 2017 2016 2017 2016 Service cost $ 7 $ 7 $ 15 $ 15 Interest cost 12 12 23 24 Expected return on plan assets (16 ) (15 ) (31 ) (29 ) Amortization of prior service credit (7 ) (8 ) (14 ) (16 ) $ (4 ) $ (4 ) $ (7 ) $ (6 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 14. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2017 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) Other comprehensive gain (loss) before reclassifications (26 ) (25 ) 11 - (40 ) Amounts reclassified from accumulated other comprehensive loss - - 8 119 127 Income taxes - - - (2 ) (2 ) Net other comprehensive (loss) income (26 ) (25 ) 19 117 85 Balance, June 30, 2017 $ (2,162 ) $ (4 ) $ - $ (2,392 ) $ (4,558 ) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2016 $ (2,053 ) $ - $ (39 ) $ (2,466 ) $ (4,558 ) Other comprehensive gain (loss) before reclassifications (51 ) 3 (68 ) - (116 ) Amounts reclassified from accumulated other comprehensive loss - - 80 130 210 Income taxes - - - (14 ) (14 ) Net other comprehensive income (51 ) 3 12 116 80 Balance, June 30, 2016 $ (2,104 ) $ 3 $ (27 ) $ (2,350 ) $ (4,478 ) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases Consolidated Balance Sheet |
Charges and Credits (Tables)
Charges and Credits (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Restructuring And Related Activities [Abstract] | |
Summary of Charges and Credits | The following is a summary of the charges and credits recorded during the first six months of 2017: (Stated in millions) Noncontrolling Pretax Tax Interests Net Promissory note fair value adjustment and other $ 510 $ - $ 12 $ 498 Merger & integration 164 31 - 133 $ 674 $ 31 $ 12 $ 631 The following is a summary of the charges and credits recorded during the second quarter of 2016: (Stated in millions) Pretax Tax Net Impairments & other Workforce reduction $ 646 $ 63 $ 583 North America pressure pumping asset impairments 209 67 142 Facilities impairments 165 58 107 Other fixed asset impairments 684 52 632 Inventory write-downs 616 49 567 Multiclient seismic data impairment 198 62 136 Other restructuring charges 55 - 55 Merger & integration Merger-related employee benefits 47 7 40 Professional fees 45 10 35 Facility closure costs 40 10 30 Other merger and integration-related 53 9 44 Amortization of inventory fair value adjustment 150 45 105 $ 2,908 $ 432 $ 2,476 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings Per Share | The following is a reconciliation from basic earnings per share of Schlumberger to diluted earnings per share of Schlumberger: (Stated in millions, except per share amounts) 2017 2016 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Loss Average Shares Outstanding Loss per Share Second Quarter Basic $ (74 ) 1,387 $ (0.05 ) $ (2,160 ) 1,389 $ (1.56 ) Assumed exercise of stock options - - - - Unvested restricted stock - - - - Diluted $ (74 ) 1,387 $ (0.05 ) $ (2,160 ) 1,389 $ (1.56 ) 2017 2016 Schlumberger Net Income Average Shares Outstanding Earnings per Share Schlumberger Net Loss Average Shares Outstanding Loss per Share Six Months Basic $ 205 $ 1,390 $ 0.15 $ (1,659 ) $ 1,321 $ (1.26 ) Assumed exercise of stock options - 2 - - Unvested restricted stock - 5 - - Diluted $ 205 $ 1,397 $ 0.15 $ (1,659 ) $ 1,321 $ (1.26 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The number of outstanding options to purchase shares of Schlumberger common stock that were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive effect, was as follows: (Stated in millions) 2017 2016 Second Quarter 49 49 Six Months 29 49 |
Acquisition of Cameron (Tables)
Acquisition of Cameron (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule of Supplemental Pro Forma Financial Information from Results of Operations | The supplemental pro forma financial information presented below does not include any anticipated cost savings or the expected realization of other synergies associated with this transaction. Accordingly, this supplemental pro forma financial information is presented for informational purposes only and is not necessarily indicative of what the actual results of operations of the combined company would have been had the acquisition occurred on January 1, 2015, nor is it indicative of future results of operations. (Stated in millions, except per share amounts) 2016 Second Quarter Six Months Revenue $ 7,164 $ 15,312 Net loss attributable to Schlumberger $ (1,905 ) $ (1,290 ) Diluted loss per share $ (1.37 ) $ (0.93 ) |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Inventory Disclosure [Abstract] | |
Summary of Inventory | A summary of inventories, which are stated at the lower of average cost or market, follows: (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Raw materials & field materials $ 1,701 $ 1,720 Work in progress 570 610 Finished goods 2,067 1,895 $ 4,338 $ 4,225 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Property Plant And Equipment [Abstract] | |
Summary of Fixed Assets | A summary of fixed assets follows: (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Property, plant & equipment $ 40,073 $ 40,008 Less: Accumulated depreciation 27,715 27,187 $ 12,358 $ 12,821 |
Depreciation Expense Relating to Fixed Assets | Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2017 2016 Second Quarter $ 592 $ 744 Six Months $ 1,205 $ 1,426 |
Multiclient Seismic Data (Table
Multiclient Seismic Data (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Multiclient Seismic Data [Abstract] | |
Change in Carrying Amount of Multiclient Seismic Data | The change in the carrying amount of multiclient seismic data for the six months ended June 30, 2017 was as follows: (Stated in millions) Balance at December 31, 2016 $ 1,073 Capitalized in period 190 Charged to expense (221 ) Balance at June 30, 2017 $ 1,042 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets by Major Class | The gross book value, accumulated amortization and net book value of intangible assets were as follows: (Stated in millions) Jun. 30, 2017 Dec. 31, 2016 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 4,944 $ 985 $ 3,959 $ 4,938 $ 865 $ 4,073 Technology/technical know-how 3,664 960 2,704 3,655 835 2,820 Tradenames 2,847 511 2,336 2,847 458 2,389 Other 1,222 585 637 1,122 549 573 $ 12,677 $ 3,041 $ 9,636 $ 12,562 $ 2,707 $ 9,855 |
Amortization Expense Charged to Income for Intangible Assets | Amortization expense charged to income was as follows: (Stated in millions) 2017 2016 Second Quarter $ 167 $ 160 Six Months $ 336 $ 249 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | A summary of Long-term Debt (Stated in millions) Jun. 30, Dec. 31, 2017 2016 Commercial paper borrowings $ 2,833 $ 2,421 4.00% Senior Notes due 2025 1,741 1,740 3.30% Senior Notes due 2021 1,594 1,594 3.00% Senior Notes due 2020 1,591 1,591 3.65% Senior Notes due 2023 1,491 1,491 2.35% Senior Notes due 2018 1,298 1,297 4.20% Senior Notes due 2021 1,100 1,100 2.40% Senior Notes due 2022 996 996 3.63% Senior Notes due 2022 845 845 0.63% Guaranteed Notes due 2019 680 622 1.50% Guaranteed Notes due 2019 580 536 6.38% Notes due 2018 294 297 7.00% Notes due 2038 213 214 4.50% Notes due 2021 136 137 5.95% Notes due 2041 115 116 3.60% Notes due 2022 110 110 5.13% Notes due 2043 99 99 4.00% Notes due 2023 82 83 3.70% Notes due 2024 56 56 Other 746 1,118 $ 16,600 $ 16,463 |
Derivative Instruments and He32
Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Fair Values of Outstanding Derivative Instruments | The fair values of outstanding derivative instruments were as follows: (Stated in millions) Fair Value of Derivatives Consolidated Balance Sheet Classification Jun. 30, Dec. 31, 2017 2016 Derivative Assets Derivatives designated as hedges: Foreign exchange contracts $ 5 $ 1 Other current assets Derivatives not designated as hedges: Foreign exchange contracts $ 18 $ 42 Other current assets $ 23 $ 43 Derivative Liabilities Derivatives designated as hedges: Foreign exchange contracts $ 3 $ 18 Accounts payable and accrued liabilities Cross currency swap 28 49 Other Liabilities $ 31 $ 67 Derivatives not designated as hedges: Foreign exchange contracts $ 28 $ 59 Accounts payable and accrued liabilities $ 59 $ 126 |
Effect of Derivative Instruments Designated as Fair Value Hedges and Not Designated as Hedges on Consolidated Statement of Income (Loss) | The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statement of Income (Loss) (Stated in millions) Gain (Loss) Recognized in Income (Loss) Second Quarter Six Months 2017 2016 2017 2016 Consolidated Statement of Income (Loss) Classification Derivatives designated as fair value hedges: Cross currency swap $ 29 $ (6 ) $ 47 $ 4 Interest Derivatives not designated as hedges: Foreign exchange contracts $ 1 $ (57 ) $ 7 $ (138 ) Cost of services/sales |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | (Stated in millions) Second Quarter 2017 Second Quarter 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,759 $ 299 $ 1,586 $ 268 Drilling 2,107 302 2,034 171 Production 2,496 221 2,121 82 Cameron 1,265 174 1,525 250 Eliminations & other (165 ) (46 ) (102 ) (24 ) Pretax operating income 950 747 Corporate & other (1) (242 ) (241 ) Interest income (2) 28 24 Interest expense (3) (128 ) (136 ) Charges and credits (4) (591 ) (2,908 ) $ 7,462 $ 17 $ 7,164 $ (2,514 ) (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 ($6 million in 2017; $6 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($14 million in 2017; $13 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. (Stated in millions) Six Months 2017 Six Months 2016 Income Income Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 3,377 $ 580 $ 3,305 $ 601 Drilling 4,092 531 4,527 542 Production 4,683 331 4,497 288 Cameron 2,494 336 1,525 250 Eliminations & other (290 ) (71 ) (170 ) (33 ) Pretax operating income 1,707 1,648 Corporate & other (1) (480 ) (414 ) Interest income (2) 52 37 Interest expense (3) (254 ) (256 ) Charges and credits (4) (674 ) (2,908 ) $ 14,356 $ 351 $ 13,684 $ (1,893 ) (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 ($11 million in 2017; $12 million in 2016). (3) Interest expense excludes amounts which are included in the segments’ income ($27 million in 2017; $26 million in 2016). (4) See Note 2 – Charges and Credits . Certain prior period items have been reclassified to conform to the current period presentation. |
Pension and Other Postretirem34
Pension and Other Postretirement Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Net Pension Cost for Schlumberger Pension Plans and US Postretirement Medical Plan | Net pension cost for the Schlumberger pension plans included the following components: (Stated in millions) Second Quarter Six Months 2017 2016 2017 2016 US Int'l US Int'l US Int'l US Int'l Service cost $ 14 $ 19 $ 13 $ 19 $ 29 $ 48 $ 31 $ 56 Interest cost 44 75 45 77 88 153 89 157 Expected return on plan assets (62 ) (134 ) (58 ) (129 ) (122 ) (270 ) (118 ) (263 ) Amortization of prior service cost 3 24 3 31 6 48 6 61 Amortization of net loss 9 27 17 17 19 60 40 39 $ 8 $ 11 $ 20 $ 15 $ 20 $ 39 $ 48 $ 50 The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) Second Quarter Six Months 2017 2016 2017 2016 Service cost $ 7 $ 7 $ 15 $ 15 Interest cost 12 12 23 24 Expected return on plan assets (16 ) (15 ) (31 ) (29 ) Amortization of prior service credit (7 ) (8 ) (14 ) (16 ) $ (4 ) $ (4 ) $ (7 ) $ (6 ) |
Accumulated Other Comprehensi35
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss consists of the following: (Stated in millions) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2017 $ (2,136 ) $ 21 $ (19 ) $ (2,509 ) $ (4,643 ) Other comprehensive gain (loss) before reclassifications (26 ) (25 ) 11 - (40 ) Amounts reclassified from accumulated other comprehensive loss - - 8 119 127 Income taxes - - - (2 ) (2 ) Net other comprehensive (loss) income (26 ) (25 ) 19 117 85 Balance, June 30, 2017 $ (2,162 ) $ (4 ) $ - $ (2,392 ) $ (4,558 ) Unrealized Pension and Currency Gain on Other Translation Marketable Cash Flow Postretirement Adjustments Securities Hedges Benefit Plans Total Balance, January 1, 2016 $ (2,053 ) $ - $ (39 ) $ (2,466 ) $ (4,558 ) Other comprehensive gain (loss) before reclassifications (51 ) 3 (68 ) - (116 ) Amounts reclassified from accumulated other comprehensive loss - - 80 130 210 Income taxes - - - (14 ) (14 ) Net other comprehensive income (51 ) 3 12 116 80 Balance, June 30, 2016 $ (2,104 ) $ 3 $ (27 ) $ (2,350 ) $ (4,478 ) |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) $ in Billions | Feb. 29, 2016USD ($) |
ASU No. 2016-02 | |
Organization And Summary Of Significant Accounting Policies [Line Items] | |
New accounting pronouncement or change in accounting principle effect of additional assets and liabilities | $ 1.3 |
Charges and Credits - Additiona
Charges and Credits - Additional Information (Detail) - USD ($) | Apr. 02, 2016 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 |
Charges And Credits [Line Items] | ||||||
Promissory note in exchange of accounts receivable | $ 700,000,000 | $ 700,000,000 | ||||
Promissory note term | 3 years | |||||
Promissory note interest rate | 6.50% | 6.50% | ||||
Charges and credits, Pretax | $ 50,000,000 | $ 82,000,000 | $ 2,908,000,000 | $ 0 | $ 674,000,000 | |
Charges and credits, After-tax | 38,000,000 | $ 68,000,000 | 2,476,000,000 | 631,000,000 | ||
Workforce reduction | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 646,000,000 | |||||
North America pressure pumping asset impairments | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 209,000,000 | |||||
Facilities impairments | North America | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 165,000,000 | |||||
Other fixed asset impairments | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 684,000,000 | |||||
Inventory Write Down | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 616,000,000 | |||||
Multiclient seismic data impairment | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 198,000,000 | |||||
Other restructuring costs | ||||||
Charges And Credits [Line Items] | ||||||
Impairment and other charges | 55,000,000 | |||||
Promissory Note Fair Value Adjustment and Other | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 460,000,000 | 510,000,000 | ||||
Charges and credits, After-tax | 460,000,000 | 498,000,000 | ||||
Merger and Integration | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | $ 185,000,000 | 164,000,000 | ||||
Charges and credits, After-tax | $ 133,000,000 | |||||
Merger and Integration | Merger-related employee benefits | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 47,000,000 | |||||
Charges and credits, After-tax | 40,000,000 | |||||
Merger and Integration | Professional fees | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 45,000,000 | |||||
Charges and credits, After-tax | 35,000,000 | |||||
Merger and Integration | Facility closure costs | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 40,000,000 | |||||
Charges and credits, After-tax | 30,000,000 | |||||
Merger and Integration | Other merger and integration-related | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 53,000,000 | |||||
Charges and credits, After-tax | $ 44,000,000 | |||||
Merger and Integration | Cameron | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 81,000,000 | |||||
Charges and credits, After-tax | $ 64,000,000 | |||||
Merger and Integration | Cameron | Inventory fair value adjustments | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 150,000,000 | |||||
Merger and Integration | Cameron | Merger-related employee benefits | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 47,000,000 | |||||
Merger and Integration | Cameron | Professional fees | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 45,000,000 | |||||
Merger and Integration | Cameron | Facility closure costs | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 40,000,000 | |||||
Merger and Integration | Cameron | Other merger and integration-related | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | $ 53,000,000 |
Charges and Credits - Summary o
Charges and Credits - Summary of Charges and Credits (Detail) - USD ($) | Apr. 02, 2016 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 |
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | $ 50,000,000 | $ 82,000,000 | $ 2,908,000,000 | $ 0 | $ 674,000,000 | |
Charges and credits, Tax | 432,000,000 | 31,000,000 | ||||
Charges and credits, Noncontolling interests | 12,000,000 | |||||
Charges and credits, Net | 38,000,000 | $ 68,000,000 | 2,476,000,000 | 631,000,000 | ||
Promissory Note Fair Value Adjustment and Other | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 460,000,000 | 510,000,000 | ||||
Charges and credits, Noncontolling interests | 12,000,000 | |||||
Charges and credits, Net | $ 460,000,000 | 498,000,000 | ||||
Merger and Integration | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | $ 185,000,000 | 164,000,000 | ||||
Charges and credits, Tax | 31,000,000 | |||||
Charges and credits, Net | $ 133,000,000 | |||||
Merger and Integration | Amortization of inventory fair value adjustment | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 150,000,000 | |||||
Charges and credits, Tax | 45,000,000 | |||||
Charges and credits, Net | 105,000,000 | |||||
Merger and Integration | Merger-related employee benefits | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 47,000,000 | |||||
Charges and credits, Tax | 7,000,000 | |||||
Charges and credits, Net | 40,000,000 | |||||
Merger and Integration | Professional fees | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 45,000,000 | |||||
Charges and credits, Tax | 10,000,000 | |||||
Charges and credits, Net | 35,000,000 | |||||
Merger and Integration | Facility closure costs | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 40,000,000 | |||||
Charges and credits, Tax | 10,000,000 | |||||
Charges and credits, Net | 30,000,000 | |||||
Merger and Integration | Other merger and integration-related | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 53,000,000 | |||||
Charges and credits, Tax | 9,000,000 | |||||
Charges and credits, Net | 44,000,000 | |||||
Impairment And Other | Workforce reduction | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 646,000,000 | |||||
Charges and credits, Tax | 63,000,000 | |||||
Charges and credits, Net | 583,000,000 | |||||
Impairment And Other | North America pressure pumping asset impairments | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 209,000,000 | |||||
Charges and credits, Tax | 67,000,000 | |||||
Charges and credits, Net | 142,000,000 | |||||
Impairment And Other | Facilities impairments | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 165,000,000 | |||||
Charges and credits, Tax | 58,000,000 | |||||
Charges and credits, Net | 107,000,000 | |||||
Impairment And Other | Other fixed asset impairments | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 684,000,000 | |||||
Charges and credits, Tax | 52,000,000 | |||||
Charges and credits, Net | 632,000,000 | |||||
Impairment And Other | Inventory write-downs | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 616,000,000 | |||||
Charges and credits, Tax | 49,000,000 | |||||
Charges and credits, Net | 567,000,000 | |||||
Impairment And Other | Multiclient seismic data impairment | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 198,000,000 | |||||
Charges and credits, Tax | 62,000,000 | |||||
Charges and credits, Net | 136,000,000 | |||||
Impairment And Other | Other restructuring charges | ||||||
Charges And Credits [Line Items] | ||||||
Charges and credits, Pretax | 55,000,000 | |||||
Charges and credits, Net | $ 55,000,000 |
Earnings Per Share - Reconcilia
Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Schlumberger Net (Loss) Income | ||||
Basic | $ (74) | $ (2,160) | $ 205 | $ (1,659) |
Diluted | $ (74) | $ (2,160) | $ 205 | $ (1,659) |
Average Shares Outstanding | ||||
Basic | 1,387 | 1,389 | 1,390 | 1,321 |
Assumed exercise of stock options | 2 | |||
Unvested restricted stock | 5 | |||
Diluted | 1,387 | 1,389 | 1,397 | 1,321 |
(Loss) Earnings per Share | ||||
Basic | $ (0.05) | $ (1.56) | $ 0.15 | $ (1.26) |
Diluted | $ (0.05) | $ (1.56) | $ 0.15 | $ (1.26) |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 49 | 49 | 29 | 49 |
Acquisition of Cameron - Additi
Acquisition of Cameron - Additional Information (Detail) - Cameron - USD ($) shares in Millions, $ in Millions | Apr. 02, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2016 |
Business Acquisition [Line Items] | ||||
Shares of common stock issued in connection with acquisition | 138 | |||
Value of common stock issued in connection with acquisition | $ 9,900 | |||
Cash paid for acquisition | $ 2,800 | |||
Revenue reported by Cameron during the first quarter | $ 1,600 | |||
Inventory fair value adjustments | ||||
Business Acquisition [Line Items] | ||||
After-tax amortization of purchase accounting adjustments and other merger and integration cost excluded in pro forma amounts | $ 254 | $ 254 |
Acquisition of Cameron - Schedu
Acquisition of Cameron - Schedule of Supplemental Pro Forma Financial Information from Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Business Combinations [Abstract] | ||
Revenue | $ 7,164 | $ 15,312 |
Net loss attributable to Schlumberger | $ (1,905) | $ (1,290) |
Diluted loss per share | $ (1.37) | $ (0.93) |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Inventory Disclosure [Abstract] | ||
Raw materials & field materials | $ 1,701 | $ 1,720 |
Work in progress | 570 | 610 |
Finished goods | 2,067 | 1,895 |
Inventories | $ 4,338 | $ 4,225 |
Fixed Assets - Summary of Fixed
Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Property Plant And Equipment [Abstract] | ||
Property, plant & equipment | $ 40,073 | $ 40,008 |
Less: Accumulated depreciation | 27,715 | 27,187 |
Fixed assets less accumulated depreciation | $ 12,358 | $ 12,821 |
Fixed Assets - Depreciation Exp
Fixed Assets - Depreciation Expense Relating to Fixed Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Property Plant And Equipment [Abstract] | ||||
Depreciation expense relating to fixed assets | $ 592 | $ 744 | $ 1,205 | $ 1,426 |
Multiclient Seismic Data - Chan
Multiclient Seismic Data - Change in Carrying Amount of Multiclient Seismic Data (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Multiclient Seismic Data [Abstract] | |
Balance at December 31, 2016 | $ 1,073 |
Capitalized in period | 190 |
Charged to expense | (221) |
Balance at June 30, 2017 | $ 1,042 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | $ 12,677 | $ 12,562 |
Accumulated Amortization | 3,041 | 2,707 |
Net Book Value | 9,636 | 9,855 |
Customer Relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 4,944 | 4,938 |
Accumulated Amortization | 985 | 865 |
Net Book Value | 3,959 | 4,073 |
Technology/Technical Know-how | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 3,664 | 3,655 |
Accumulated Amortization | 960 | 835 |
Net Book Value | 2,704 | 2,820 |
Tradenames | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 2,847 | 2,847 |
Accumulated Amortization | 511 | 458 |
Net Book Value | 2,336 | 2,389 |
Other | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,222 | 1,122 |
Accumulated Amortization | 585 | 549 |
Net Book Value | $ 637 | $ 573 |
Intangible Assets - Amortizatio
Intangible Assets - Amortization Expense Charged to Income for Intangible Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Amortization expense | $ 167 | $ 160 | $ 336 | $ 249 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) $ in Millions | Jun. 30, 2017USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Estimated amortization charged to income, remaining two quarters of 2017 | $ 350 |
Estimated amortization charged to income, 2018 | 681 |
Estimated amortization charged to income, 2019 | 668 |
Estimated amortization charged to income, 2020 | 621 |
Estimated amortization charged to income, 2021 | 597 |
Estimated amortization charged to income, 2022 | $ 586 |
Long-term Debt - Summary of Lon
Long-term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 16,600 | $ 16,463 |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 2,833 | 2,421 |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,741 | 1,740 |
3.30% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,594 | 1,594 |
3.00% Senior Notes due 2020 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,591 | 1,591 |
3.65% Senior Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,491 | 1,491 |
2.35% Senior Notes due 2018 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,298 | 1,297 |
4.20% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,100 | 1,100 |
2.40% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 996 | 996 |
3.63% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 845 | 845 |
0.63% Guaranteed Notes due 2019 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 680 | 622 |
1.50% Guaranteed Notes due 2019 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 580 | 536 |
6.38% Notes due 2018 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 294 | 297 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 213 | 214 |
Other | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 746 | 1,118 |
4.50% Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 136 | 137 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 115 | 116 |
3.60% Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 110 | 110 |
5.13% Notes due 2043 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 99 | 99 |
4.00% Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 82 | 83 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 56 | $ 56 |
Long-term Debt - Summary of L51
Long-term Debt - Summary of Long-term Debt (Parenthetical) (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 6.50% | |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.00% | 4.00% |
Debt instrument maturity date | 2,025 | 2,025 |
3.30% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.30% | 3.30% |
Debt instrument maturity date | 2,021 | 2,021 |
3.00% Senior Notes due 2020 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.00% | 3.00% |
Debt instrument maturity date | 2,020 | 2,020 |
3.65% Senior Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.65% | 3.65% |
Debt instrument maturity date | 2,023 | 2,023 |
2.35% Senior Notes due 2018 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 2.35% | 2.35% |
Debt instrument maturity date | 2,018 | 2,018 |
4.20% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.20% | 4.20% |
Debt instrument maturity date | 2,021 | 2,021 |
2.40% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 2.40% | 2.40% |
Debt instrument maturity date | 2,022 | 2,022 |
3.63% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.63% | 3.63% |
Debt instrument maturity date | 2,022 | 2,022 |
0.63% Guaranteed Notes due 2019 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 0.63% | 0.63% |
Debt instrument maturity date | 2,019 | 2,019 |
1.50% Guaranteed Notes due 2019 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 1.50% | 1.50% |
Debt instrument maturity date | 2,019 | 2,019 |
6.38% Notes due 2018 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 6.38% | 6.38% |
Debt instrument maturity date | 2,018 | 2,018 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 7.00% | 7.00% |
Debt instrument maturity date | 2,038 | 2,038 |
4.50% Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.50% | 4.50% |
Debt instrument maturity date | 2,021 | 2,021 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.95% | 5.95% |
Debt instrument maturity date | 2,041 | 2,041 |
3.60% Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.60% | 3.60% |
Debt instrument maturity date | 2,022 | 2,022 |
5.13% Notes due 2043 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.13% | 5.13% |
Debt instrument maturity date | 2,043 | 2,043 |
4.00% Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.00% | 4.00% |
Debt instrument maturity date | 2,023 | 2,023 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.70% | 3.70% |
Debt instrument maturity date | 2,024 | 2,024 |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term debt, fair value | $ 16,900 | $ 16,800 |
Short-term borrowings and current portion of long-term debt | 2,224 | 3,153 |
Long-term debt, carrying amount | 16,600 | 16,463 |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Short-term borrowings and current portion of long-term debt | 200 | 200 |
Long-term debt, carrying amount | 2,833 | 2,421 |
Long-term debt | $ 3,000 | $ 2,600 |
Derivative Instruments and He53
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2017USD ($)Country | Dec. 31, 2013EUR (€) | |
Derivative [Line Items] | ||
Fixed rate debt, after taking into account the effects of the interest rate swaps | $ 13,900,000,000 | |
Variable rate debt, after taking into account the effects of the interest rate swaps | 4,900,000,000 | |
Short-term investments and fixed income investments, held to maturity | 4,300,000,000 | |
Recognized a cumulative net (loss) in Accumulated other comprehensive loss relating to revaluation of foreign currency forward contracts and foreign currency options designated as cash flow hedges | $ (100,000) | |
Minimum | ||
Derivative [Line Items] | ||
Number of countries in which Schlumberger conducts business | Country | 85 | |
1.50% Guaranteed Notes due 2019 | ||
Derivative [Line Items] | ||
Guaranteed notes face amount | € | € 500,000,000 | |
Cross currency swap | ||
Derivative [Line Items] | ||
Notional amount of interest rate swap | € | € 500,000,000 | |
Fixed Rate Debt | 1.50% Guaranteed Notes due 2019 | ||
Derivative [Line Items] | ||
Derivative swap interest rate | 1.50% | |
Floating Rate Debt | 1.50% Guaranteed Notes due 2019 | ||
Derivative [Line Items] | ||
Floating interest rate on securities | three-month LIBOR plus approximately 64 basis points | |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amount of interest rate swap | $ 4,800,000,000 | |
Foreign exchange contracts | Debt | Derivatives designated as hedges | ||
Derivative [Line Items] | ||
Notional amount of interest rate swap | $ 800,000,000 | |
London Interbank Offered Rate (LIBOR) | Floating Rate Debt | 1.50% Guaranteed Notes due 2019 | ||
Derivative [Line Items] | ||
Basis point | 0.64% |
Derivative Instruments and He54
Derivative Instruments and Hedging Activities - Fair Values of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative Assets | ||
Derivative Assets | $ 23 | $ 43 |
Derivative Liabilities | ||
Derivative Liabilities | 59 | 126 |
Derivatives designated as hedges | ||
Derivative Liabilities | ||
Derivative Liabilities | 31 | 67 |
Foreign exchange contracts | Derivatives designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 5 | 1 |
Foreign exchange contracts | Derivatives designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 3 | 18 |
Foreign exchange contracts | Derivatives not designated as hedges | Other current assets | ||
Derivative Assets | ||
Derivative Assets | 18 | 42 |
Foreign exchange contracts | Derivatives not designated as hedges | Accounts payable and accrued liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | 28 | 59 |
Cross currency swap | Derivatives designated as hedges | Other Liabilities | ||
Derivative Liabilities | ||
Derivative Liabilities | $ 28 | $ 49 |
Derivative Instruments and He55
Derivative Instruments and Hedging Activities - Effect of Derivative Instruments Designated as Fair Value Hedges and Not Designated as Hedges on Consolidated Statement of Income (Loss) (Detail) - Cash Flow Hedging - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivatives designated as hedges | Cross currency swap | Interest | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income (Loss) | $ 29 | $ (6) | $ 47 | $ 4 |
Derivatives not designated as hedges | Foreign exchange contracts | Cost of services/sales | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income (Loss) | $ 1 | $ (57) | $ 7 | $ (138) |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | $ 7,462 | $ 7,164 | $ 14,356 | $ 13,684 | |||||
Income Before Taxes | 17 | (2,514) | 351 | (1,893) | |||||
Pretax operating income | 950 | 747 | 1,707 | 1,648 | |||||
Interest expense | 142 | 149 | 281 | 282 | |||||
Operating Segments | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest income | 6 | 6 | 11 | 12 | |||||
Interest expense | 14 | 13 | 27 | 26 | |||||
Operating Segments | Reservoir Characterization | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 1,759 | 1,586 | 3,377 | 3,305 | |||||
Income Before Taxes | 299 | 268 | 580 | 601 | |||||
Operating Segments | Drilling | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 2,107 | 2,034 | 4,092 | 4,527 | |||||
Income Before Taxes | 302 | 171 | 531 | 542 | |||||
Operating Segments | Production | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 2,496 | 2,121 | 4,683 | 4,497 | |||||
Income Before Taxes | 221 | 82 | 331 | 288 | |||||
Operating Segments | Cameron | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | 1,265 | 1,525 | 2,494 | 1,525 | |||||
Income Before Taxes | 174 | 250 | 336 | 250 | |||||
Eliminations & other | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue | (165) | (102) | (290) | (170) | |||||
Income Before Taxes | (46) | (24) | (71) | (33) | |||||
Material Reconciling Items | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Corporate & other | [1] | (242) | (241) | (480) | (414) | ||||
Interest income | 28 | [2] | 24 | [2] | 52 | [3] | 37 | [3] | |
Interest expense | (128) | [4] | (136) | [4] | (254) | [5] | (256) | [5] | |
Charges and credits | [6] | $ (591) | $ (2,908) | $ (674) | $ (2,908) | ||||
[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 ($6 million in 2017; $6 million in 2016). | ||||||||
[3] | Interest income excludes amounts which are included in the segments’ income ($11 million in 2017; $12 million in 2016). | ||||||||
[4] | Interest expense excludes amounts which are included in the segments’ income ($14 million in 2017; $13 million in 2016). | ||||||||
[5] | Interest expense excludes amounts which are included in the segments’ income ($27 million in 2017; $26 million in 2016). | ||||||||
[6] | See Note 2 – Charges and Credits. |
Segment Information - Schedul57
Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Interest expense | $ 142 | $ 149 | $ 281 | $ 282 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 6 | 6 | 11 | 12 |
Interest expense | $ 14 | $ 13 | $ 27 | $ 26 |
Pension and Other Postretirem58
Pension and Other Postretirement Benefit Plans - Net Pension Cost for Schlumberger Pension Plans and US Postretirement Medical Plan (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Postretirement medical plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 7 | $ 7 | $ 15 | $ 15 |
Interest cost | 12 | 12 | 23 | 24 |
Expected return on plan assets | (16) | (15) | (31) | (29) |
Amortization of prior service cost | (7) | (8) | (14) | (16) |
Total pension cost | (4) | (4) | (7) | (6) |
US Plan Assets | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 14 | 13 | 29 | 31 |
Interest cost | 44 | 45 | 88 | 89 |
Expected return on plan assets | (62) | (58) | (122) | (118) |
Amortization of prior service cost | 3 | 3 | 6 | 6 |
Amortization of net loss | 9 | 17 | 19 | 40 |
Total pension cost | 8 | 20 | 20 | 48 |
International | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 19 | 19 | 48 | 56 |
Interest cost | 75 | 77 | 153 | 157 |
Expected return on plan assets | (134) | (129) | (270) | (263) |
Amortization of prior service cost | 24 | 31 | 48 | 61 |
Amortization of net loss | 27 | 17 | 60 | 39 |
Total pension cost | $ 11 | $ 15 | $ 39 | $ 50 |
Accumulated Other Comprehensi59
Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | $ 41,529 | $ 35,905 |
Other comprehensive gain (loss) before reclassifications | (40) | (116) |
Amounts reclassified from accumulated other comprehensive loss | 127 | 210 |
Income taxes | (2) | (14) |
Net other comprehensive (loss) income | 85 | 80 |
Balance | 39,952 | 42,979 |
Currency Translation Adjustments | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (2,136) | (2,053) |
Other comprehensive gain (loss) before reclassifications | (26) | (51) |
Net other comprehensive (loss) income | (26) | (51) |
Balance | (2,162) | (2,104) |
Unrealized Gain/(Loss) on Marketable Securities | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | 21 | |
Other comprehensive gain (loss) before reclassifications | (25) | 3 |
Net other comprehensive (loss) income | (25) | 3 |
Balance | (4) | 3 |
Cash Flow Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (19) | (39) |
Other comprehensive gain (loss) before reclassifications | 11 | (68) |
Amounts reclassified from accumulated other comprehensive loss | 8 | 80 |
Net other comprehensive (loss) income | 19 | 12 |
Balance | (27) | |
Pension and Other Postretirement Benefit Plans | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (2,509) | (2,466) |
Amounts reclassified from accumulated other comprehensive loss | 119 | 130 |
Income taxes | (2) | (14) |
Net other comprehensive (loss) income | 117 | 116 |
Balance | (2,392) | (2,350) |
Accumulated Other Comprehensive Loss | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balance | (4,643) | (4,558) |
Balance | $ (4,558) | $ (4,478) |