Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2020shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | SCHLUMBERGER LIMITED/NV |
Entity Central Index Key | 0000087347 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,388,101,743 |
Entity Shell Company | false |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity File Number | 1-4601 |
Entity Tax Identification Number | 52-0684746 |
Entity Address, Address Line One | 5599 SAN FELIPE |
Entity Address, City or Town | HOUSTON |
Entity Address, State or Province | TX |
Entity Incorporation, State or Country Code | P8 |
Entity Address, Country | US |
Entity Address, Postal Zip Code | 77056 |
City Area Code | 713 |
Local Phone Number | 513-2000 |
Document Quarterly Report | true |
Document Transition Report | false |
Title of 12(b) Security | common stock, par value $0.01 per share |
Security Exchange Name | NYSE |
Trading Symbol | SLB |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME (LOSS) (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue | ||||
Total Revenue | $ 5,356 | $ 8,269 | $ 12,811 | $ 16,149 |
Interest & other income | 33 | 25 | 72 | 39 |
Expenses | ||||
Research & engineering | 142 | 179 | 315 | 351 |
General & administrative | 81 | 114 | 208 | 225 |
Impairments & other | 3,724 | 12,247 | ||
Interest | 144 | 156 | 281 | 302 |
Income (loss) before taxes | (3,627) | 593 | (11,716) | 1,101 |
Tax expense (benefit) | (199) | 99 | (920) | 178 |
Net income (loss) | (3,428) | 494 | (10,796) | 923 |
Net income attributable to noncontrolling interests | 6 | 2 | 14 | 10 |
Net income (loss) attributable to Schlumberger | $ (3,434) | $ 492 | $ (10,810) | $ 913 |
Basic earnings (loss) per share of Schlumberger | $ (2.47) | $ 0.36 | $ (7.79) | $ 0.66 |
Diluted earnings (loss) per share of Schlumberger | $ (2.47) | $ 0.35 | $ (7.79) | $ 0.65 |
Average shares outstanding: | ||||
Basic | 1,388 | 1,384 | 1,388 | 1,385 |
Assuming dilution | 1,388 | 1,395 | 1,388 | 1,396 |
Services | ||||
Revenue | ||||
Total Revenue | $ 3,721 | $ 6,153 | $ 9,147 | $ 12,059 |
Expenses | ||||
Cost of services and sales | 3,383 | 5,308 | 8,109 | 10,422 |
Product | ||||
Revenue | ||||
Total Revenue | 1,635 | 2,116 | 3,664 | 4,090 |
Expenses | ||||
Cost of services and sales | $ 1,542 | $ 1,944 | $ 3,439 | $ 3,787 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income (loss) | $ (3,428) | $ 494 | $ (10,796) | $ 923 |
Currency translation adjustments | ||||
Unrealized net change arising during the period | 19 | (37) | (106) | 39 |
Cash flow hedges | ||||
Net (loss) gain on cash flow hedges | (28) | 1 | (231) | (4) |
Reclassification to net income (loss) of net realized loss | 4 | 1 | 5 | 4 |
Pension and other postretirement benefit plans | ||||
Amortization to net income (loss) of net actuarial loss | 37 | 23 | 88 | 47 |
Amortization to net income (loss) of net prior service credit | 8 | (3) | 3 | (6) |
Impact of curtailment | (69) | (69) | ||
Income taxes on pension and other postretirement benefit plans | 14 | (2) | 10 | (2) |
Comprehensive income (loss) | (3,443) | 477 | (11,096) | 1,001 |
Comprehensive income attributable to noncontrolling interests | 6 | 2 | 14 | 10 |
Comprehensive income (loss) attributable to Schlumberger | $ (3,449) | $ 475 | $ (11,110) | $ 991 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash | $ 1,462 | $ 1,137 |
Short-term investments | 2,127 | 1,030 |
Receivables less allowance for doubtful accounts (2020 - $312; 2019 - $255) | 5,808 | 7,747 |
Inventories | 3,601 | 4,130 |
Other current assets | 1,381 | 1,486 |
Current assets total | 14,379 | 15,530 |
Investments in Affiliated Companies | 1,484 | 1,565 |
Fixed Assets less accumulated depreciation | 7,729 | 9,270 |
Multiclient Seismic Data | 356 | 568 |
Goodwill | 12,954 | 16,042 |
Intangible Assets | 3,622 | 7,089 |
Other Assets | 4,143 | 6,248 |
Total Assets | 44,667 | 56,312 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 9,824 | 10,663 |
Estimated liability for taxes on income | 1,054 | 1,209 |
Short-term borrowings and current portion of long-term debt | 603 | 524 |
Dividends payable | 184 | 702 |
Current Liabilities Total | 11,665 | 13,098 |
Long-term Debt | 16,763 | 14,770 |
Postretirement Benefits | 905 | 967 |
Deferred Taxes | 42 | 491 |
Other Liabilities | 2,836 | 2,810 |
Total Liabilities | 32,211 | 32,136 |
Equity | ||
Common stock | 13,044 | 13,078 |
Treasury stock | (3,339) | (3,631) |
Retained earnings | 7,073 | 18,751 |
Accumulated other comprehensive loss | (4,738) | (4,438) |
Schlumberger stockholders' equity | 12,040 | 23,760 |
Noncontrolling interests | 416 | 416 |
Total equity | 12,456 | 24,176 |
Liabilities and stockholders equity | $ 44,667 | $ 56,312 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts on receivable | $ 312 | $ 255 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
Cash flows from operating activities: | |||
Net income (loss) | $ (10,796) | $ 923 | |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | |||
Impairments and other charges | 12,247 | ||
Depreciation and amortization | [1] | 1,396 | 1,841 |
Deferred taxes | (1,050) | (101) | |
Stock-based compensation expense | 213 | 194 | |
Earnings of equity method investments, less dividends received | (26) | ||
Change in assets and liabilities: | |||
Decrease (increase) in receivables | [2] | 1,910 | (581) |
Increase in inventories | [2] | (74) | (332) |
Decrease (increase) in other current assets | [2] | 129 | (57) |
Decrease (increase) in other assets | 16 | (16) | |
Decrease in accounts payable and accrued liabilities | [2] | (2,204) | (422) |
Decrease in estimated liability for taxes on income | (184) | (68) | |
Decrease in other liabilities | [2] | (42) | (39) |
Other | [2] | 52 | 92 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,587 | 1,434 | |
Cash flows from investing activities: | |||
Capital expenditures | (658) | (817) | |
APS investments | (224) | (332) | |
Multiclient seismic data costs capitalized | (61) | (109) | |
Business acquisitions and investments, net of cash acquired | (30) | (17) | |
(Purchase) sale of investments, net | (1,099) | 464 | |
Net proceeds from asset divestitures | 298 | ||
Other | (85) | (63) | |
NET CASH USED IN INVESTING ACTIVITIES | (1,859) | (874) | |
Cash flows from financing activities: | |||
Dividends paid | (1,386) | (1,385) | |
Proceeds from employee stock purchase plan | 85 | 85 | |
Proceeds from exercise of stock options | 21 | ||
Stock repurchase program | (26) | (199) | |
Proceeds from issuance of long-term debt | 4,985 | 2,350 | |
Repayment of long-term debt | (3,070) | (1,413) | |
Net increase (decrease) in short-term borrowings | 73 | (22) | |
Other | (51) | 32 | |
NET CASH PROVIDED BY (USED) IN FINANCING ACTIVITIES | 610 | (531) | |
Net increase in cash before translation effect | 338 | 29 | |
Translation effect on cash | (13) | 4 | |
Cash, beginning of period | 1,137 | 1,433 | |
Cash, end of period | $ 1,462 | $ 1,466 | |
[1] | Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs, and APS investments. | ||
[2] | Net of the effect of business acquisitions and divestitures. |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Common Stock Issued | Common Stock In Treasury | Retained Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interests |
Balance at Dec. 31, 2018 | $ 36,586 | $ 13,132 | $ (4,006) | $ 31,658 | $ (4,622) | $ 424 |
Net income (loss) | 923 | 913 | 10 | |||
Currency translation adjustments | 39 | 39 | ||||
Pension and other postretirement benefit plans | 39 | 39 | ||||
Shares sold to optionees, less shares exchanged | 21 | (26) | 47 | |||
Vesting of restricted stock | (126) | 126 | ||||
Shares issued under employee stock purchase plan | 85 | (115) | 200 | |||
Stock repurchase program | (199) | (199) | ||||
Stock-based compensation expense | 194 | 194 | ||||
Dividends declared | (1,385) | (1,385) | ||||
Other | (30) | (22) | 5 | (13) | ||
Balance at Jun. 30, 2019 | 36,273 | 13,037 | (3,827) | 31,186 | (4,544) | 421 |
Balance at Mar. 31, 2019 | 36,524 | 13,000 | (3,756) | 31,386 | (4,527) | 421 |
Net income (loss) | 494 | 492 | 2 | |||
Currency translation adjustments | (37) | (37) | ||||
Changes in fair value of cash flow hedges | 2 | 2 | ||||
Pension and other postretirement benefit plans | 18 | 18 | ||||
Shares sold to optionees, less shares exchanged | (1) | 1 | ||||
Vesting of restricted stock | (26) | 26 | ||||
Stock repurchase program | (101) | (101) | ||||
Stock-based compensation expense | 86 | 86 | ||||
Dividends declared | (692) | (692) | ||||
Other | (21) | (22) | 3 | (2) | ||
Balance at Jun. 30, 2019 | 36,273 | 13,037 | (3,827) | 31,186 | (4,544) | 421 |
Balance at Dec. 31, 2019 | $ 24,176 | $ 13,078 | $ (3,631) | 18,751 | (4,438) | 416 |
Balance, shares at Dec. 31, 2019 | 1,385 | 1,434 | ||||
Treasury shares, Balance at Dec. 31, 2019 | (49) | |||||
Net income (loss) | $ (10,796) | (10,810) | 14 | |||
Currency translation adjustments | (108) | (106) | (2) | |||
Changes in fair value of cash flow hedges | (226) | (226) | ||||
Pension and other postretirement benefit plans | $ 32 | 32 | ||||
Vesting of restricted stock | $ (131) | $ 131 | ||||
Vesting of restricted stock, shares | 2 | 2 | ||||
Shares issued under employee stock purchase plan | $ 85 | (95) | $ 180 | |||
Shares issued under employee stock purchase plan, shares | 2 | 2 | ||||
Stock repurchase program | $ (26) | $ (26) | ||||
Stock repurchase program, shares | (1) | (1) | ||||
Stock-based compensation expense | $ 213 | 213 | ||||
Dividends declared | (868) | (868) | ||||
Other | (26) | (21) | $ 7 | (12) | ||
Balance at Jun. 30, 2020 | $ 12,456 | $ 13,044 | $ (3,339) | 7,073 | (4,738) | 416 |
Balance, shares at Jun. 30, 2020 | 1,388 | 1,434 | ||||
Treasury shares, Balance at Jun. 30, 2020 | (46) | |||||
Balance at Mar. 31, 2020 | $ 15,983 | $ 12,963 | $ (3,360) | 10,681 | (4,723) | 422 |
Net income (loss) | (3,428) | (3,434) | 6 | |||
Currency translation adjustments | 20 | 19 | 1 | |||
Changes in fair value of cash flow hedges | (24) | (24) | ||||
Pension and other postretirement benefit plans | (10) | (10) | ||||
Vesting of restricted stock | (14) | 14 | ||||
Stock-based compensation expense | 105 | 105 | ||||
Dividends declared | (174) | (174) | ||||
Other | (16) | (10) | 7 | (13) | ||
Balance at Jun. 30, 2020 | $ 12,456 | $ 13,044 | $ (3,339) | $ 7,073 | $ (4,738) | $ 416 |
Balance, shares at Jun. 30, 2020 | 1,388 | 1,434 | ||||
Treasury shares, Balance at Jun. 30, 2020 | (46) |
CONSOLIDATED STATEMENT OF STO_2
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (Unaudited) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Retained Earnings | ||||
Dividends declared, per share | $ 0.125 | $ 0.50 | $ 0.625 | $ 1 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2020 | |
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, 2020 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020. The December 31, 2019 balance sheet information has been derived from the Schlumberger 2019 audited financial statements. For further information, refer to the Consolidated Financial Statements |
Charges and Credits
Charges and Credits | 6 Months Ended |
Jun. 30, 2020 | |
Restructuring And Related Activities [Abstract] | |
Charges and Credits | 2. Charges and Credits Schlumberger recorded the following charges and credits during 2020, all of which are classified in Impairments & other Consolidated Statement of Income (Loss) (Stated in millions) Pretax Tax Net First quarter: Goodwill $ 3,070 $ - $ 3,070 Intangible asset impairments 3,321 (815 ) 2,506 Asset Performance Solutions investments 1,264 4 1,268 North America pressure pumping impairment 587 (133 ) 454 Workforce reductions 202 (7 ) 195 Other 79 (9 ) 70 Valuation allowance - 164 164 Second quarter: Workforce reductions 1,021 (71 ) 950 Asset Performance Solutions investments 730 (15 ) 715 Fixed asset impairments 666 (52 ) 614 Inventory write-downs 603 (49 ) 554 Right-of-use asset impairments 311 (67 ) 244 Costs associated with exiting certain activities 205 25 230 Multiclient seismic data impairment 156 (2 ) 154 Repurchase of bonds 40 (2 ) 38 Postretirement benefits curtailment gain (69 ) 16 (53 ) Other 61 (4 ) 57 $ 12,247 $ (1,017 ) $ 11,230 First quarter 2020: • Geopolitical events that increased the supply of low-priced oil to the global market occurred at the same time that demand weakened due to the worldwide effects of the COVID-19 pandemic, leading to a collapse in oil prices during March 2020. As a result, Schlumberger’s market capitalization deteriorated significantly compared to the end of 2019. Schlumberger’s stock price reached a low during the first quarter of 2020 not seen since 1995. Additionally, the Philadelphia Oil Services Sector index, which is comprised of companies involved in the oil services sector, reached an all-time low. As a result of these facts, Schlumberger determined that it was more likely than not that the fair value of certain of its reporting units were less than their carrying value. Therefore, Schlumberger performed an interim goodwill impairment test. Schlumberger had 11 reporting units with goodwill balances aggregating $16.0 billion. Schlumberger determined that the fair value of four of its reporting units, representing $4.5 billion of the goodwill, was substantially in excess of their carrying value. Schlumberger performed a detailed quantitative impairment assessment of the remaining seven reporting units, which represented $11.5 billion of goodwill. As a result of this assessment, Schlumberger concluded that the goodwill associated with each of these seven reporting units was impaired, resulting in a $3.1 billion goodwill impairment charge. This charge primarily relates to goodwill associated with the Drilling and Production segments. Following the $3.1 billion goodwill impairment charge relating to these seven reporting units, six of these reporting units had a remaining goodwill balance. These six reporting units had goodwill balances which ranged between $0.2 billion and $5.0 billion and aggregated to $8.4 billion as of March 31, 2020. Schlumberger used the income approach to estimate the fair value of its reporting units, but also considered the market approach to validate the results. The income approach estimates the fair value by discounting each reporting unit’s estimated future cash flows using Schlumberger’s estimate of the discount rate, or expected return, that a marketplace participant would have required as of the valuation date. The market approach includes the use of comparative multiples to corroborate the discounted cash flow results. The market approach involves significant judgement involved in the selection of the appropriate peer group companies and valuation multiples. Some of the more significant assumptions inherent in the income approach include the estimated future net annual cash flows for each reporting unit and the discount rate. Schlumberger selected the assumptions used in the discounted cash flow projections using historical data supplemented by current and anticipated market conditions and estimated growth rates. Schlumberger’s estimates are based upon assumptions believed to be reasonable. However, given the inherent uncertainty in determining the assumptions underlying a discounted cash flow analysis, particularly in the current volatile market, actual results may differ from those used in Schlumberger’s valuations which could result in additional impairment charges in the future. The discount rates utilized to value Schlumberger’s reporting units were between 12.0% and 13.5%, depending on the risks and uncertainty inherent in the respective reporting unit as well as the size of the reporting unit. Assuming all other assumptions and inputs used in each of the respective discounted cash flow analysis were held constant, a 50-basis point increase or decrease in the discount rate assumptions would have changed the fair value of the seven reporting units, on average, by less than 5%. • The negative market indicators described above were triggering events that indicated that certain of Schlumberger’s long-lived intangible and tangible assets may be impaired. Recoverability testing indicated that certain long-lived assets were impaired. The estimated fair value of these assets was determined to be below their carrying value. As a result, Schlumberger recorded the following impairment charges: - $3.3 billion of intangible assets, of which $2.2 billion relates to Schlumberger’s 2016 acquisition of Cameron International Corporation and $1.1 billion relates to Schlumberger’s 2010 acquisition of Smith International, Inc. Following this impairment charge, the carrying value of the impaired intangible assets was approximately $0.9 billion. - $1.3 billion relating to the carrying value of certain Asset Performance Solutions (“APS”) projects in North America. - $0.6 billion of fixed assets associated with the pressure pumping business in North America. • $202 million of severance. • $79 million of other restructuring charges, primarily consisting of the impairment of an equity method investment that was determined to be other-than-temporarily impaired. • $164 million relating to a valuation allowance against certain deferred tax assets. Second quarter 2020: • As previously noted, late in the first quarter of 2020 geopolitical events that increased the supply of low-priced oil to the global market occurred at the same time as demand weakened due to the worldwide effects of the COVID-19 pandemic, which led to a collapse in oil prices. As a result, the second quarter of 2020 was the most challenging quarter in past decades. Schlumberger responded to these market conditions by taking actions to restructure its business and rationalize its asset base during the second quarter of 2020. These actions included reducing headcount, closing facilities and exiting business lines in certain countries. Additionally, due to the resulting activity decline, Schlumberger had assets that will no longer be utilized. As a consequence of these circumstances and decisions, Schlumberger recorded the following restructuring and asset impairment charges: - $1.021 billion of severance associated with reducing its workforce by more than 21,000 employees. The vast majority of this charge is expected to be paid during the second half of 2020. - $730 million relating to the carrying value of certain APS projects in Latin America. - $666 million of fixed asset impairments primarily relating to equipment that will no longer be utilized and facilities it is exiting. - $603 million write-down of the carrying value of inventory to its net realizable value. - $311 million write-down of right-of-use assets under operating leases associated with leased facilities Schlumberger is exiting and excess equipment. - $205 million of costs associated with exiting certain activities. - $156 million impairment of certain multiclient seismic data. - $61 million of other costs, including a $42 million increase in the allowance for the doubtful accounts. • During the second quarter of 2020, Schlumberger repurchased certain Senior Notes (see Note 9 – Long-term debt), which resulted in a $40 million charge. • As a consequence of the workforce reductions described above, Schlumberger recorded a curtailment gain of $69 million relating to its US postretirement medical plan. See Note 13 – Pension and Other Postretirement Benefit Plans for further details. The fair value of the impaired intangible assets, fixed assets, APS investments, right-of-use assets and multiclient seismic data was estimated based on the present value of projected future cash flows that the underlying assets are expected to generate. Such estimates included unobservable inputs that required significant judgement. As market conditions evolve and Schlumberger continues to develop its strategy to deal with such conditions, it may result in further restructuring and/or impairment charges in future periods relating to, among other things, fixed assets, facilities, workforce reductions and other assets. There were no charges or credits recorded during the first six months of 2019. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | 3. Earnings (Loss) Per Share The following is a reconciliation from basic earnings (loss) per share of Schlumberger to diluted earnings (loss) per share of Schlumberger: (Stated in millions, except per share amounts) 2020 2019 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share Second Quarter Basic $ (3,434 ) 1,388 $ (2.47 ) $ 492 1,384 $ 0.36 Unvested restricted stock - - - 11 Diluted $ (3,434 ) 1,388 $ (2.47 ) $ 492 1,395 $ 0.35 2020 2019 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share Six Months Basic $ (10,810 ) $ 1,388 $ (7.79 ) $ 913 $ 1,385 $ 0.66 Unvested restricted stock - - - 11 Diluted $ (10,810 ) $ 1,388 $ (7.79 ) $ 913 $ 1,396 $ 0.65 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) Second Quarter Six Months 2020 2019 2020 2019 Employee stock options 50 48 50 42 Unvested restricted stock 15 - 15 - |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2020 | |
Inventory Disclosure [Abstract] | |
Inventories | 4. Inventories A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows: (Stated in millions) Jun. 30, Dec. 31, 2020 2019 Raw materials & field materials $ 1,677 $ 1,857 Work in progress 481 515 Finished goods 1,443 1,758 $ 3,601 $ 4,130 |
Fixed Assets
Fixed Assets | 6 Months Ended |
Jun. 30, 2020 | |
Property Plant And Equipment [Abstract] | |
Fixed Assets | 5. Fixed Assets A summary of fixed assets follows: (Stated in millions) Jun. 30, Dec. 31, 2020 2019 Property, plant & equipment $ 32,737 $ 35,009 Less: Accumulated depreciation 25,008 25,739 $ 7,729 $ 9,270 Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2020 2019 Second Quarter $ 417 $ 514 Six Months $ 866 $ 1,026 |
Multiclient Seismic Data
Multiclient Seismic Data | 6 Months Ended |
Jun. 30, 2020 | |
Multiclient Seismic Data [Abstract] | |
Multiclient Seismic Data | 6. Multiclient Seismic Data The change in the carrying amount of multiclient seismic data for the six months ended June 30, 2020 was as follows: (Stated in millions) Balance at December 31, 2019 $ 568 Capitalized in period 61 Charged to expense (96 ) Impairments (See Note 2) (156 ) Other (21 ) Balance at June 30, 2020 $ 356 |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill | 7. Goodwill The changes in the carrying amount of goodwill by segment were as follows: (Stated in millions) Reservoir Characterization Drilling Production Cameron Total Balance at December 31, 2019 $ 4,560 $ 7,092 $ 3,949 $ 441 $ 16,042 Impairment (See Note 2) - (1,659 ) (1,228 ) (183 ) (3,070 ) Impact of changes in exchange rates and other (3 ) 6 (21 ) - (18 ) Balance at June 30, 2020 $ 4,557 $ 5,439 $ 2,700 $ 258 $ 12,954 |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2020 | |
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, 2020 Dec. 31, 2019 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 1,751 $ 458 $ 1,293 $ 3,779 $ 868 $ 2,911 Technology/technical know-how 1,387 538 849 2,498 779 1,719 Tradenames 770 153 617 1,885 264 1,621 Other 1,575 712 863 1,514 676 838 $ 5,483 $ 1,861 $ 3,622 $ 9,676 $ 2,587 $ 7,089 Amortization expense charged to income was as follows: (Stated in millions) 2020 2019 Second Quarter $ 80 $ 164 Six Months $ 213 $ 324 Based on the net book value of intangible assets at June 30, 2020, amortization charged to income for the subsequent five years is estimated to be: remaining two quarters of 2020—$161 million; 2021—$307 million; 2022—$302 million; 2023—$291 million; 2024—$261 million; and 2025—$254 million. |
Long-term Debt
Long-term Debt | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Long-term Debt | 9. Long-term Debt A summary of Long-term Debt (Stated in millions) Jun. 30, Dec. 31, 2020 2019 3.65% Senior Notes due 2023 $ 1,495 $ 1,495 3.90% Senior Notes due 2028 1,447 1,444 1.375% Guaranteed Notes due 2026 1,119 - 2.00% Guaranteed Notes due 2032 1,119 - 0.25% Notes due 2027 1,008 550 0.50% Notes due 2031 1,008 544 2.40% Senior Notes due 2022 999 998 4.00% Senior Notes due 2025 929 929 2.65% Senior Notes due 2030 892 - 4.30% Senior Notes due 2029 845 845 3.75% Senior Notes due 2024 746 746 1.00% Guaranteed Notes due 2026 671 665 3.30% Senior Notes due 2021 664 1,597 2.65% Senior Notes due 2022 598 598 0.00% Notes due 2024 560 551 3.63% Senior Notes due 2022 295 294 7.00% Notes due 2038 207 208 5.95% Notes due 2041 114 114 5.13% Notes due 2043 99 99 4.00% Notes due 2023 81 81 3.70% Notes due 2024 55 55 4.20% Senior Notes due 2021 - 600 Commercial paper borrowings 1,812 2,222 Other - 135 $ 16,763 $ 14,770 The estimate d fair value of Schlumberger’s Long-term Debt, based on quoted market prices at June 30, 2020 and December 31, 2019, was $17.3 billion and $15.3 billion, respectively. During the second quarter of 2020, Schlumberger entered into a €1.54 billion committed revolving credit facility. This one-year . At June 30, 2020, Schlumberger had separate committed credit facility agreements aggregating $7.98 billion with commercial banks, of which $6.17 billion was available and unused. These committed facilities support commercial paper programs in the United States and Europe, of which $1.73 billion matures in April 2021, $2.75 billion matures in February 2023, $1.5 billion matures in July 2024 and $2.0 billion matures in February 2025. Interest rates and other terms of borrowing under these lines of credit vary by facility. Borrowings under the commercial paper programs at June 30, 2020 were $1.81 billion, all of which was classified in Long-term debt Consolidated Balance Sheet Long-term debt Consolidated Balance Sheet During the first quarter of 2020, Schlumberger issued €400 million of 0.25% Notes due 2027 and €400 million of 0.50% Notes due 2031. During the second quarter of 2020, Schlumberger issued €1.0 billion of 1.375% Guaranteed Notes due 2026, $900 million of 2.65% Senior Notes due 2030 and €1.0 billion of 2.00% Guaranteed Notes due 2032. During the second quarter of 2020, Schlumberger repurchased all $600 million of its 4.20% Senior Notes due 2021 and $935 million of its 3.30% Senior Notes due 2021. Schlumberger paid a premium of approximately $40 million in connection with these repurchases. This premium was classified in Impairments & other Consolidated Statement of Income (Loss) Charge and Credits During the second quarter of 2020, Schlumberger established a €5.0 billion Guaranteed Euro Medium Term Note program that provides for the issuance of various types of debt instruments such as fixed or floating rate notes in euro, US dollar or other currencies. Schlumberger has not issued any debt under this program. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 6 Months Ended |
Jun. 30, 2020 | |
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, to mitigate the exposure to changes in interest rates. At June 30, 2020, Schlumberger had fixed rate debt aggregating $15.5 billion and variable rate debt aggregating $1.9 billion. Foreign Currency Exchange Rate Risk As a multinational company, Schlumberger generates revenue in more than 120 countries. Schlumberger’s functional currency is primarily the US dollar. However, outside the United States, a significant portion of Schlumberger’s expenses are 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 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 changes in the fair value of the hedge recorded on the Consolidated Balance Sheet Accumulated Other Comprehensive Loss. Accumulated Other Comprehensive Loss Schlumberger is also exposed to risks on future cash flows relating to certain of its fixed rate debt denominated in currencies other than the functional currency. Schlumberger uses cross-currency swaps to provide a hedge against these cash flow risks. During 2017, a Canadian-dollar functional currency subsidiary of Schlumberger issued $1.1 billion of US-dollar denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of $1.1 billion in order to hedge changes in the fair value of its $0.5 billion of 2.20% Senior Notes due 2020 and its $0.6 billion of 2.65% Senior Notes due 2022. These cross-currency swaps effectively convert the US-dollar denominated notes to Canadian-dollar denominated debt with fixed annual interest rates of 1.97% and 2.52%, respectively. During 2019, a US-dollar functional currency subsidiary of Schlumberger issued €1.5 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €1.5 billion in order to hedge changes in the fair value of its €0.5 billion 0.00% Notes due 2024, €0.5 billion 0.25% Notes due 2027 and €0.5 billion 0.50% Notes due 2031. These cross-currency swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.29%, 2.51% and 2.76%, respectively. During the first quarter of 2020, a US-dollar functional currency subsidiary of Schlumberger issued €0.8 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €0.8 billion in order to hedge changes in the fair value of its €0.4 billion of 0.25% Notes due 2027 and €0.4 billion of 0.50% Notes due 2031. These cross-currency swaps effectively convert the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 1.87% and 2.20%, respectively. During the second quarter of 2020, a US-dollar functional currency subsidiary of Schlumberger issued €2.0 billion of Euro-denominated debt. Schlumberger entered into cross-currency swaps for an aggregate notional amount of €1.6 billion in order to hedge changes in the fair value of its €1.0 billion of 1.375% Guaranteed Notes due 2026 and €0.6 billion of 2.00% Guaranteed Notes due 2032. These cross-currency swaps effectively convert the swapped portion of the Euro-denominated notes to US-dollar denominated debt with fixed annual interest rates of 2.77% and 3.45%, respectively. Schlumberger hedged its exposure to currency fluctuations on the remaining €0.4 billion of Euro-denominated debt issued by using foreign currency forward contracts that are not designated as hedges for accounting purposes. 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, 2020, contracts were outstanding for the US dollar equivalent of $9.8 billion in various foreign currencies, of which $6.0 billion relates to hedges of debt denominated in currencies other than the functional currency. At June 30, 2020, Schlumberger recognized a cumulative $260 million loss in Accumulated Other Comprehensive Loss The effect of derivative instruments designated as fair value and cash flow 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 2020 2019 2020 2019 Consolidated Statement of Income (Loss) Classification Derivatives designated as cash flow hedges: Foreign exchange contracts $ (4 ) $ (2 ) $ (5 ) $ (4 ) Cost of services/sales Cross currency swaps 92 (22 ) 150 (38 ) Interest expense $ 88 $ (24 ) $ 145 $ (42 ) Derivatives not designated as hedges: Foreign exchange contracts $ 11 $ (14 ) $ 2 $ (8 ) Cost of services/sales |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
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, 2020 | |
Segment Reporting [Abstract] | |
Segment Information | 12. Segment Information (Stated in millions) Second Quarter 2020 Second Quarter 2019 Income (Loss) Income (Loss) Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,052 $ 185 $ 1,558 $ 317 Drilling 1,731 165 2,420 301 Production 1,615 25 3,077 235 Cameron 1,015 80 1,328 165 Eliminations & other (57 ) (59 ) (114 ) (50 ) 396 968 Corporate & other (1) (169 ) (238 ) Interest income (2) 7 9 Interest expense (3) (137 ) (146 ) Charges and credits (4) (3,724 ) - $ 5,356 $ (3,627 ) $ 8,269 $ 593 Certain prior period amounts have been reclassified to conform to the current period presentation. (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 ($- million in 2020; $2 million in 2019). (3) (4) Charges and Credits (Stated in millions) Six Months 2020 Six Months 2019 Income (Loss) Income (Loss) Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 2,363 $ 369 $ 3,017 $ 598 Drilling 4,020 450 4,806 608 Production 4,318 237 5,967 453 Cameron 2,270 201 2,586 313 Eliminations & other (160 ) (85 ) (227 ) (96 ) 1,172 1,876 Corporate & other (1) (397 ) (511 ) Interest income (2) 22 18 Interest expense (3) (266 ) (282 ) Charges and credits (4) (12,247 ) - $ 12,811 $ (11,716 ) $ 16,149 $ 1,101 Certain prior period amounts have been reclassified to conform to the current period presentation. (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 ($1 million in 2020; $5 million in 2019). (3) (4) Charges and Credits Revenue by geographic area was as follows: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 North America $ 1,183 $ 2,801 $ 3,463 $ 5,539 Latin America 543 1,115 1,488 2,107 Europe/CIS/Africa 1,449 1,896 3,200 3,602 Middle East & Asia 2,146 2,452 4,572 4,790 Eliminations & other 35 5 88 111 $ 5,356 $ 8,269 $ 12,811 $ 16,149 North America and International revenue disaggregated by segment was as follows: (Stated in millions) Second Quarter 2020 North Eliminations America International & other Total Reservoir Characterization $ 165 $ 880 $ 7 $ 1,052 Drilling 269 1,417 45 1,731 Production 408 1,205 2 1,615 Cameron 341 676 (2 ) 1,015 Other - (40 ) (17 ) (57 ) $ 1,183 $ 4,138 $ 35 $ 5,356 Second Quarter 2019 North Eliminations America International & other Total Reservoir Characterization $ 242 $ 1,312 $ 4 $ 1,558 Drilling 552 1,819 49 2,420 Production 1,419 1,657 1 3,077 Cameron 600 754 (26 ) 1,328 Other (12 ) (79 ) (23 ) (114 ) $ 2,801 $ 5,463 $ 5 $ 8,269 (Stated in millions) Six Months 2020 North Eliminations America International & other Total Reservoir Characterization $ 365 $ 1,988 $ 10 $ 2,363 Drilling 792 3,139 89 4,020 Production 1,475 2,842 1 4,318 Cameron 847 1,402 21 2,270 Other (16 ) (111 ) (33 ) (160 ) $ 3,463 $ 9,260 $ 88 $ 12,811 Six Months 2019 North Eliminations America International & other Total Reservoir Characterization $ 458 $ 2,552 $ 7 $ 3,017 Drilling 1,128 3,574 104 4,806 Production 2,792 3,173 2 5,967 Cameron 1,182 1,375 29 2,586 Other (21 ) (175 ) (31 ) (227 ) $ 5,539 $ 10,499 $ 111 $ 16,149 Revenue in excess of billings related to contracts where revenue is recognized over time was $0.2 billion at both June 30, 2020 and December 31, 2019. Such amounts are included within Receivables less allowance for doubtful accounts Consolidated Balance Sheet Due to the nature of its business, Schlumberger does not have significant backlog. Total backlog was $2.8 billion at June 30, 2020, of which approximately 50% is expected to be recognized as revenue over the next 12 months. Billings and cash collections in excess of revenue was $1.1 billion at June 30, 2020 and $0.9 billion at December 31, 2019. Such amounts are included within Accounts payable and accrued liabilities Consolidated Balance Sheet |
Pension and Other Postretiremen
Pension and Other Postretirement Benefit Plans | 6 Months Ended |
Jun. 30, 2020 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefit Plans | 13. Pension and Other Postretirement Benefit Plans Net pension cost (credit) for the Schlumberger pension plans included the following components: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 US Int'l US Int'l US Int'l US Int'l Service cost $ 16 $ 37 $ 13 $ 32 $ 31 $ 74 $ 27 $ 64 Interest cost 38 75 46 83 75 150 91 166 Expected return on plan assets (59 ) (147 ) (57 ) (148 ) (117 ) (294 ) (115 ) (298 ) Amortization of prior service cost 2 - 2 2 4 - 4 4 Amortization of net loss 11 39 8 15 22 79 16 31 $ 8 $ 4 $ 12 $ (16 ) $ 15 $ 9 $ 23 $ (33 ) The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 Service cost $ 9 $ 7 $ 18 $ 15 Interest cost 10 12 20 24 Expected return on plan assets (17 ) (17 ) (34 ) (33 ) Amortization of prior service credit (7 ) (7 ) (14 ) (14 ) Curtailment gain (69 ) - (69 ) - $ (74 ) $ (5 ) $ (79 ) $ (8 ) |
Charges and Credits (Tables)
Charges and Credits (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Restructuring And Related Activities [Abstract] | |
Summary of Charges and Credits | Schlumberger recorded the following charges and credits during 2020, all of which are classified in Impairments & other Consolidated Statement of Income (Loss) (Stated in millions) Pretax Tax Net First quarter: Goodwill $ 3,070 $ - $ 3,070 Intangible asset impairments 3,321 (815 ) 2,506 Asset Performance Solutions investments 1,264 4 1,268 North America pressure pumping impairment 587 (133 ) 454 Workforce reductions 202 (7 ) 195 Other 79 (9 ) 70 Valuation allowance - 164 164 Second quarter: Workforce reductions 1,021 (71 ) 950 Asset Performance Solutions investments 730 (15 ) 715 Fixed asset impairments 666 (52 ) 614 Inventory write-downs 603 (49 ) 554 Right-of-use asset impairments 311 (67 ) 244 Costs associated with exiting certain activities 205 25 230 Multiclient seismic data impairment 156 (2 ) 154 Repurchase of bonds 40 (2 ) 38 Postretirement benefits curtailment gain (69 ) 16 (53 ) Other 61 (4 ) 57 $ 12,247 $ (1,017 ) $ 11,230 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings (loss) Per Share | The following is a reconciliation from basic earnings (loss) per share of Schlumberger to diluted earnings (loss) per share of Schlumberger: (Stated in millions, except per share amounts) 2020 2019 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share Second Quarter Basic $ (3,434 ) 1,388 $ (2.47 ) $ 492 1,384 $ 0.36 Unvested restricted stock - - - 11 Diluted $ (3,434 ) 1,388 $ (2.47 ) $ 492 1,395 $ 0.35 2020 2019 Schlumberger Net Loss Average Shares Outstanding Loss per Share Schlumberger Net Income Average Shares Outstanding Earnings per Share Six Months Basic $ (10,810 ) $ 1,388 $ (7.79 ) $ 913 $ 1,385 $ 0.66 Unvested restricted stock - - - 11 Diluted $ (10,810 ) $ 1,388 $ (7.79 ) $ 913 $ 1,396 $ 0.65 |
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) Second Quarter Six Months 2020 2019 2020 2019 Employee stock options 50 48 50 42 Unvested restricted stock 15 - 15 - |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Inventory Disclosure [Abstract] | |
Summary of Inventory | A summary of inventories, which are stated at the lower of average cost or net realizable value, is as follows: (Stated in millions) Jun. 30, Dec. 31, 2020 2019 Raw materials & field materials $ 1,677 $ 1,857 Work in progress 481 515 Finished goods 1,443 1,758 $ 3,601 $ 4,130 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Property Plant And Equipment [Abstract] | |
Summary of Fixed Assets | A summary of fixed assets follows: (Stated in millions) Jun. 30, Dec. 31, 2020 2019 Property, plant & equipment $ 32,737 $ 35,009 Less: Accumulated depreciation 25,008 25,739 $ 7,729 $ 9,270 |
Depreciation Expense Relating to Fixed Assets | Depreciation expense relating to fixed assets was as follows: (Stated in millions) 2020 2019 Second Quarter $ 417 $ 514 Six Months $ 866 $ 1,026 |
Multiclient Seismic Data (Table
Multiclient Seismic Data (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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, 2020 was as follows: (Stated in millions) Balance at December 31, 2019 $ 568 Capitalized in period 61 Charged to expense (96 ) Impairments (See Note 2) (156 ) Other (21 ) Balance at June 30, 2020 $ 356 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill by segment were as follows: (Stated in millions) Reservoir Characterization Drilling Production Cameron Total Balance at December 31, 2019 $ 4,560 $ 7,092 $ 3,949 $ 441 $ 16,042 Impairment (See Note 2) - (1,659 ) (1,228 ) (183 ) (3,070 ) Impact of changes in exchange rates and other (3 ) 6 (21 ) - (18 ) Balance at June 30, 2020 $ 4,557 $ 5,439 $ 2,700 $ 258 $ 12,954 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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, 2020 Dec. 31, 2019 Gross Accumulated Net Book Gross Accumulated Net Book Book Amortization Value Book Value Amortization Value Customer relationships $ 1,751 $ 458 $ 1,293 $ 3,779 $ 868 $ 2,911 Technology/technical know-how 1,387 538 849 2,498 779 1,719 Tradenames 770 153 617 1,885 264 1,621 Other 1,575 712 863 1,514 676 838 $ 5,483 $ 1,861 $ 3,622 $ 9,676 $ 2,587 $ 7,089 |
Amortization Expense Charged to Income for Intangible Assets | (Stated in millions) 2020 2019 Second Quarter $ 80 $ 164 Six Months $ 213 $ 324 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | A summary of Long-term Debt (Stated in millions) Jun. 30, Dec. 31, 2020 2019 3.65% Senior Notes due 2023 $ 1,495 $ 1,495 3.90% Senior Notes due 2028 1,447 1,444 1.375% Guaranteed Notes due 2026 1,119 - 2.00% Guaranteed Notes due 2032 1,119 - 0.25% Notes due 2027 1,008 550 0.50% Notes due 2031 1,008 544 2.40% Senior Notes due 2022 999 998 4.00% Senior Notes due 2025 929 929 2.65% Senior Notes due 2030 892 - 4.30% Senior Notes due 2029 845 845 3.75% Senior Notes due 2024 746 746 1.00% Guaranteed Notes due 2026 671 665 3.30% Senior Notes due 2021 664 1,597 2.65% Senior Notes due 2022 598 598 0.00% Notes due 2024 560 551 3.63% Senior Notes due 2022 295 294 7.00% Notes due 2038 207 208 5.95% Notes due 2041 114 114 5.13% Notes due 2043 99 99 4.00% Notes due 2023 81 81 3.70% Notes due 2024 55 55 4.20% Senior Notes due 2021 - 600 Commercial paper borrowings 1,812 2,222 Other - 135 $ 16,763 $ 14,770 |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Effect of Derivative Instruments Designated as Fair Value and Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of (Loss) Income | The effect of derivative instruments designated as fair value and cash flow 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 2020 2019 2020 2019 Consolidated Statement of Income (Loss) Classification Derivatives designated as cash flow hedges: Foreign exchange contracts $ (4 ) $ (2 ) $ (5 ) $ (4 ) Cost of services/sales Cross currency swaps 92 (22 ) 150 (38 ) Interest expense $ 88 $ (24 ) $ 145 $ (42 ) Derivatives not designated as hedges: Foreign exchange contracts $ 11 $ (14 ) $ 2 $ (8 ) Cost of services/sales |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | (Stated in millions) Second Quarter 2020 Second Quarter 2019 Income (Loss) Income (Loss) Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 1,052 $ 185 $ 1,558 $ 317 Drilling 1,731 165 2,420 301 Production 1,615 25 3,077 235 Cameron 1,015 80 1,328 165 Eliminations & other (57 ) (59 ) (114 ) (50 ) 396 968 Corporate & other (1) (169 ) (238 ) Interest income (2) 7 9 Interest expense (3) (137 ) (146 ) Charges and credits (4) (3,724 ) - $ 5,356 $ (3,627 ) $ 8,269 $ 593 Certain prior period amounts have been reclassified to conform to the current period presentation. (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 ($- million in 2020; $2 million in 2019). (3) (4) Charges and Credits (Stated in millions) Six Months 2020 Six Months 2019 Income (Loss) Income (Loss) Before Before Revenue Taxes Revenue Taxes Reservoir Characterization $ 2,363 $ 369 $ 3,017 $ 598 Drilling 4,020 450 4,806 608 Production 4,318 237 5,967 453 Cameron 2,270 201 2,586 313 Eliminations & other (160 ) (85 ) (227 ) (96 ) 1,172 1,876 Corporate & other (1) (397 ) (511 ) Interest income (2) 22 18 Interest expense (3) (266 ) (282 ) Charges and credits (4) (12,247 ) - $ 12,811 $ (11,716 ) $ 16,149 $ 1,101 Certain prior period amounts have been reclassified to conform to the current period presentation. (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 ($1 million in 2020; $5 million in 2019). (3) (4) Charges and Credits |
Revenue by Geographic Area | Revenue by geographic area was as follows: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 North America $ 1,183 $ 2,801 $ 3,463 $ 5,539 Latin America 543 1,115 1,488 2,107 Europe/CIS/Africa 1,449 1,896 3,200 3,602 Middle East & Asia 2,146 2,452 4,572 4,790 Eliminations & other 35 5 88 111 $ 5,356 $ 8,269 $ 12,811 $ 16,149 |
Summary of North America and International Revenue Disaggregated by Segment | North America and International revenue disaggregated by segment was as follows: (Stated in millions) Second Quarter 2020 North Eliminations America International & other Total Reservoir Characterization $ 165 $ 880 $ 7 $ 1,052 Drilling 269 1,417 45 1,731 Production 408 1,205 2 1,615 Cameron 341 676 (2 ) 1,015 Other - (40 ) (17 ) (57 ) $ 1,183 $ 4,138 $ 35 $ 5,356 Second Quarter 2019 North Eliminations America International & other Total Reservoir Characterization $ 242 $ 1,312 $ 4 $ 1,558 Drilling 552 1,819 49 2,420 Production 1,419 1,657 1 3,077 Cameron 600 754 (26 ) 1,328 Other (12 ) (79 ) (23 ) (114 ) $ 2,801 $ 5,463 $ 5 $ 8,269 (Stated in millions) Six Months 2020 North Eliminations America International & other Total Reservoir Characterization $ 365 $ 1,988 $ 10 $ 2,363 Drilling 792 3,139 89 4,020 Production 1,475 2,842 1 4,318 Cameron 847 1,402 21 2,270 Other (16 ) (111 ) (33 ) (160 ) $ 3,463 $ 9,260 $ 88 $ 12,811 Six Months 2019 North Eliminations America International & other Total Reservoir Characterization $ 458 $ 2,552 $ 7 $ 3,017 Drilling 1,128 3,574 104 4,806 Production 2,792 3,173 2 5,967 Cameron 1,182 1,375 29 2,586 Other (21 ) (175 ) (31 ) (227 ) $ 5,539 $ 10,499 $ 111 $ 16,149 |
Pension and Other Postretirem_2
Pension and Other Postretirement Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Compensation And Retirement Disclosure [Abstract] | |
Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan | Net pension cost (credit) for the Schlumberger pension plans included the following components: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 US Int'l US Int'l US Int'l US Int'l Service cost $ 16 $ 37 $ 13 $ 32 $ 31 $ 74 $ 27 $ 64 Interest cost 38 75 46 83 75 150 91 166 Expected return on plan assets (59 ) (147 ) (57 ) (148 ) (117 ) (294 ) (115 ) (298 ) Amortization of prior service cost 2 - 2 2 4 - 4 4 Amortization of net loss 11 39 8 15 22 79 16 31 $ 8 $ 4 $ 12 $ (16 ) $ 15 $ 9 $ 23 $ (33 ) The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components: (Stated in millions) Second Quarter Six Months 2020 2019 2020 2019 Service cost $ 9 $ 7 $ 18 $ 15 Interest cost 10 12 20 24 Expected return on plan assets (17 ) (17 ) (34 ) (33 ) Amortization of prior service credit (7 ) (7 ) (14 ) (14 ) Curtailment gain (69 ) - (69 ) - $ (74 ) $ (5 ) $ (79 ) $ (8 ) |
Charges and Credits - Summary o
Charges and Credits - Summary of Charges and Credits (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | |
Charges And Credits [Line Items] | ||||
Charges and credits, Net | $ 0 | |||
Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | $ 12,247,000,000 | |||
Charges and credits, Tax | (1,017,000,000) | |||
Charges and credits, Net | $ 11,230,000,000 | |||
Goodwill | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | $ 3,070,000,000 | |||
Charges and credits, Net | 3,070,000,000 | |||
Intangible assets impairment | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 3,321,000,000 | |||
Charges and credits, Tax | (815,000,000) | |||
Charges and credits, Net | 2,506,000,000 | |||
Asset Performance Solutions Investments | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | $ 730,000,000 | 1,264,000,000 | ||
Charges and credits, Tax | (15,000,000) | 4,000,000 | ||
Charges and credits, Net | 715,000,000 | 1,268,000,000 | ||
North America pressure pumping asset impairments | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 587,000,000 | |||
Charges and credits, Tax | (133,000,000) | |||
Charges and credits, Net | 454,000,000 | |||
Workforce reductions | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 1,021,000,000 | 202,000,000 | ||
Charges and credits, Tax | (71,000,000) | (7,000,000) | ||
Charges and credits, Net | 950,000,000 | 195,000,000 | ||
Other | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 61,000,000 | 79,000,000 | ||
Charges and credits, Tax | (4,000,000) | (9,000,000) | ||
Charges and credits, Net | 57,000,000 | 70,000,000 | ||
Valuation allowance | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Tax | 164,000,000 | |||
Charges and credits, Net | $ 164,000,000 | |||
Fixed Asset Impairments | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 666,000,000 | |||
Charges and credits, Tax | (52,000,000) | |||
Charges and credits, Net | 614,000,000 | |||
Inventory Write Down | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 603,000,000 | |||
Charges and credits, Tax | (49,000,000) | |||
Charges and credits, Net | 554,000,000 | |||
Right-of-use Asset Impairments | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 311,000,000 | |||
Charges and credits, Tax | (67,000,000) | |||
Charges and credits, Net | 244,000,000 | |||
Costs Associated With Exiting Certain Activities | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 205,000,000 | |||
Charges and credits, Tax | 25,000,000 | |||
Charges and credits, Net | 230,000,000 | |||
Multiclient Seismic Data Impairment | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 156,000,000 | |||
Charges and credits, Tax | (2,000,000) | |||
Charges and credits, Net | 154,000,000 | |||
Repurchase of bonds | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | 40,000,000 | |||
Charges and credits, Tax | (2,000,000) | |||
Charges and credits, Net | 38,000,000 | |||
Postretirement Benefits Curtailment Gain | Impairment and Other | ||||
Charges And Credits [Line Items] | ||||
Charges and credits, Pretax | (69,000,000) | |||
Charges and credits, Tax | 16,000,000 | |||
Charges and credits, Net | $ (53,000,000) |
Charges and Credits - Additiona
Charges and Credits - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020USD ($)Emp | Mar. 31, 2020USD ($)Unit | Jun. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Charges And Credits [Line Items] | ||||
Total number of reporting units | Unit | 11 | |||
Goodwill | $ 16,000,000,000 | |||
Goodwill impairment charge | $ 3,100,000,000 | |||
Goodwill | $ 12,954,000,000 | $ 16,042,000,000 | ||
Expected increase/decrease in discount rate assumption | 0.50% | |||
Number of reporting units fair value to be impacted | Unit | 7 | |||
Intangible assets | $ 3,300,000,000 | |||
Charges And Credits | $ 0 | |||
Carrying Value Of Impaired Intangible Asset | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 900,000,000 | |||
Carrying Value Of Asset Production Solutions | North America | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 1,300,000,000 | |||
North America pressure pumping asset impairments | North America | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 600,000,000 | |||
Severance | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 202,000,000 | |||
Other Restructuring | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 79,000,000 | |||
Valuation allowance | North America | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 164,000,000 | |||
Workforce reductions | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | $ 1,021,000,000 | |||
Reduction in workforce | Emp | 21,000 | |||
Asset Performance Solutions Investments | Latin America | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | $ 730,000,000 | |||
Fixed Asset Impairments | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 666,000,000 | |||
Inventory Write Down | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 603,000,000 | |||
Right-of-use Asset Impairments | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 311,000,000 | |||
Costs Associated With Exiting Certain Activities | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 205,000,000 | |||
Multiclient Seismic Data Impairment | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 156,000,000 | |||
Other | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 61,000,000 | |||
Allowance For Doubtful Accounts | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 42,000,000 | |||
Repurchase of bonds | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | 40,000,000 | |||
Postretirement Benefits Curtailment Gain | ||||
Charges And Credits [Line Items] | ||||
Restructuring and asset impairment charges | $ 69,000,000 | |||
Cameron | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | 2,200,000,000 | |||
Smith International Inc Smith Aand Geoservices | ||||
Charges And Credits [Line Items] | ||||
Intangible assets | $ 1,100,000,000 | |||
Minimum | ||||
Charges And Credits [Line Items] | ||||
Discount rate utilized | 12.00% | |||
Maximum | ||||
Charges And Credits [Line Items] | ||||
Discount rate utilized | 13.50% | |||
Expected percentage change in fair value of reporting units | 5.00% | |||
Four Reporting Units [Member] | ||||
Charges And Credits [Line Items] | ||||
Total number of reporting units | Unit | 4 | |||
Goodwill | $ 4,500,000,000 | |||
Seven Reporting Units [Member] | ||||
Charges And Credits [Line Items] | ||||
Total number of reporting units | Unit | 7 | |||
Goodwill | $ 11,500,000,000 | |||
Six Reporting Units | ||||
Charges And Credits [Line Items] | ||||
Total number of reporting units | Unit | 6 | |||
Goodwill | $ 8,400,000,000 | |||
Six Reporting Units | Minimum | ||||
Charges And Credits [Line Items] | ||||
Goodwill | 200,000,000 | |||
Six Reporting Units | Maximum | ||||
Charges And Credits [Line Items] | ||||
Goodwill | $ 5,000,000,000 |
Earnings (Loss) Per Share - Rec
Earnings (Loss) Per Share - Reconciliation of Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Schlumberger Net Income (Loss) | ||||
Basic | $ (3,434) | $ 492 | $ (10,810) | $ 913 |
Diluted | $ (3,434) | $ 492 | $ (10,810) | $ 913 |
Average Shares Outstanding | ||||
Basic | 1,388 | 1,384 | 1,388 | 1,385 |
Unvested restricted stock | 11 | 11 | ||
Diluted | 1,388 | 1,395 | 1,388 | 1,396 |
Earnings (loss) per Share | ||||
Basic | $ (2.47) | $ 0.36 | $ (7.79) | $ 0.66 |
Diluted | $ (2.47) | $ 0.35 | $ (7.79) | $ 0.65 |
Earnings (Loss) Per Share - Sch
Earnings (Loss) 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, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Employee Stock Options | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 50 | 48 | 50 | 42 |
Unvested Restricted Stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 15 | 15 |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Inventory Disclosure [Abstract] | ||
Raw materials & field materials | $ 1,677 | $ 1,857 |
Work in progress | 481 | 515 |
Finished goods | 1,443 | 1,758 |
Inventories | $ 3,601 | $ 4,130 |
Fixed Assets - Summary of Fixed
Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Property Plant And Equipment [Abstract] | ||
Property, plant & equipment | $ 32,737 | $ 35,009 |
Less: Accumulated depreciation | 25,008 | 25,739 |
Fixed assets less accumulated depreciation | $ 7,729 | $ 9,270 |
Fixed Assets - Depreciation Exp
Fixed Assets - Depreciation Expense Relating to Fixed Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Property Plant And Equipment [Abstract] | ||||
Depreciation expense relating to fixed assets | $ 417 | $ 514 | $ 866 | $ 1,026 |
Multiclient Seismic Data - Chan
Multiclient Seismic Data - Change in Carrying Amount of Multiclient Seismic Data (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Multiclient Seismic Data [Abstract] | |
Opening balance | $ 568 |
Capitalized in period | 61 |
Charged to expense | (96) |
Impairments (See Note 2) | (156) |
Other | (21) |
Ending balance | $ 356 |
Goodwill - Changes in Carrying
Goodwill - Changes in Carrying Amount of Goodwill (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | $ 16,042 |
Impairment (See Note 2) | (3,070) |
Impact of changes in exchange rates and other | (18) |
Goodwill, Ending Balance | 12,954 |
Cameron | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 441 |
Impairment (See Note 2) | (183) |
Goodwill, Ending Balance | 258 |
Operating Segments | Reservoir Characterization | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 4,560 |
Impact of changes in exchange rates and other | (3) |
Goodwill, Ending Balance | 4,557 |
Operating Segments | Drilling | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 7,092 |
Impairment (See Note 2) | (1,659) |
Impact of changes in exchange rates and other | 6 |
Goodwill, Ending Balance | 5,439 |
Operating Segments | Production | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 3,949 |
Impairment (See Note 2) | (1,228) |
Impact of changes in exchange rates and other | (21) |
Goodwill, Ending Balance | $ 2,700 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets by Major Class (Detail) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | $ 5,483 | $ 9,676 |
Accumulated Amortization | 1,861 | 2,587 |
Net Book Value | 3,622 | 7,089 |
Customer Relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,751 | 3,779 |
Accumulated Amortization | 458 | 868 |
Net Book Value | 1,293 | 2,911 |
Technology/Technical Know-How | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,387 | 2,498 |
Accumulated Amortization | 538 | 779 |
Net Book Value | 849 | 1,719 |
Tradenames | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 770 | 1,885 |
Accumulated Amortization | 153 | 264 |
Net Book Value | 617 | 1,621 |
Other | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Book Value | 1,575 | 1,514 |
Accumulated Amortization | 712 | 676 |
Net Book Value | $ 863 | $ 838 |
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, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Amortization expense | $ 80 | $ 164 | $ 213 | $ 324 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) $ in Millions | Jun. 30, 2020USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Estimated amortization charged to income, remaining two quarters of 2020 | $ 161 |
Estimated amortization charged to income, 2021 | 307 |
Estimated amortization charged to income, 2022 | 302 |
Estimated amortization charged to income, 2023 | 291 |
Estimated amortization charged to income, 2024 | 261 |
Estimated amortization charged to income, 2025 | $ 254 |
Long-term Debt - Summary of Lon
Long-term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 16,763 | $ 14,770 |
3.65% Senior Notes due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,495 | 1,495 |
3.90% Senior Notes due 2028 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,447 | 1,444 |
1.375% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,119 | |
2.0% Guaranteed Notes due 2032 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,119 | |
0.25% Notes due 2027 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,008 | 550 |
0.50% Notes due 2031 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 1,008 | 544 |
4.00% Senior Notes due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 929 | 929 |
2.40% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 999 | 998 |
2.65% Senior Notes due 2030 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 892 | |
4.30% Senior Notes due 2029 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 845 | 845 |
3.75% Senior Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 746 | 746 |
1.00% Guaranteed Notes due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 671 | 665 |
3.30% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 664 | 1,597 |
0.00% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 560 | 551 |
3.63% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 295 | 294 |
7.00% Notes due 2038 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 207 | 208 |
5.95% Notes due 2041 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 114 | 114 |
2.65% Senior Notes due 2022 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 598 | 598 |
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 | 81 | 81 |
3.70% Notes due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 55 | 55 |
4.20% Senior Notes due 2021 | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 600 | |
Other | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | 135 | |
Commercial paper borrowings | ||
Debt Instrument [Line Items] | ||
Long-term debt, carrying amount | $ 1,812 | $ 2,222 |
Long-term Debt - Summary of L_2
Long-term Debt - Summary of Long-term Debt (Parenthetical) (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
3.65% Senior Notes due 2023 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.65% | 3.65% | 3.65% | |
Debt instrument maturity date | 2023 | 2023 | ||
3.90% Senior Notes due 2028 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.90% | 3.90% | 3.90% | |
Debt instrument maturity date | 2028 | 2028 | ||
1.375% Notes due 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 1.375% | 1.375% | 1.375% | |
Debt instrument maturity date | 2026 | 2026 | 2026 | |
2.0% Notes due 2032 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 2.00% | 2.00% | 2.00% | |
Debt instrument maturity date | 2032 | 2032 | 2032 | |
2.40% Senior Notes due 2022 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 2.40% | 2.40% | 2.40% | |
Debt instrument maturity date | 2022 | 2022 | ||
0.25% Notes due 2027 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.25% | 0.25% | 0.25% | 0.25% |
Debt instrument maturity date | 2027 | 2027 | 2027 | |
0.50% Notes due 2031 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.50% | 0.50% | 0.50% | 0.50% |
Debt instrument maturity date | 2031 | 2031 | 2031 | |
4.00% Senior Notes due 2025 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 4.00% | 4.00% | 4.00% | |
Debt instrument maturity date | 2025 | 2025 | ||
4.30% Senior Notes due 2029 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 4.30% | 4.30% | 4.30% | |
Debt instrument maturity date | 2029 | 2029 | ||
3.75% Senior Notes due 2024 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.75% | 3.75% | 3.75% | |
Debt instrument maturity date | 2024 | 2024 | ||
2.65% Senior Notes due 2030 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 2.65% | 2.65% | 2.65% | |
Debt instrument maturity date | 2030 | 2030 | 2030 | |
1.00% Guaranteed Notes due 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 1.00% | 1.00% | 1.00% | |
Debt instrument maturity date | 2026 | 2026 | ||
2.65% Senior Notes due 2022 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 2.65% | 2.65% | 2.65% | |
Debt instrument maturity date | 2022 | 2022 | ||
0.00% Notes due 2024 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.00% | 0.00% | 0.00% | |
Debt instrument maturity date | 2024 | 2024 | ||
3.30% Senior Notes due 2021 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.30% | 3.30% | 3.30% | |
Debt instrument maturity date | 2021 | 2021 | 2021 | |
3.63% Senior Notes due 2022 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.63% | 3.63% | 3.63% | |
Debt instrument maturity date | 2022 | 2022 | ||
7.00% Notes due 2038 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 7.00% | 7.00% | 7.00% | |
Debt instrument maturity date | 2038 | 2038 | ||
5.95% Notes due 2041 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 5.95% | 5.95% | 5.95% | |
Debt instrument maturity date | 2041 | 2041 | ||
5.13% Notes due 2043 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 5.13% | 5.13% | 5.13% | |
Debt instrument maturity date | 2043 | 2043 | ||
4.00% Notes due 2023 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 4.00% | 4.00% | 4.00% | |
Debt instrument maturity date | 2023 | 2023 | ||
3.70% Notes due 2024 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 3.70% | 3.70% | 3.70% | |
Debt instrument maturity date | 2024 | 2024 | ||
4.20% Senior Notes due 2021 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 4.20% | 4.20% | 4.20% | |
Debt instrument maturity date | 2021 | 2021 | 2021 |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) € in Millions, $ in Millions | Jul. 29, 2020USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020EUR (€) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2020EUR (€) | Dec. 31, 2019EUR (€) |
Debt Instrument [Line Items] | |||||||
Long-term debt, fair value | $ 17,300 | $ 17,300 | $ 15,300 | ||||
Committed credit facility agreement aggregated | 7,980 | 7,980 | |||||
Unused credit facility | 6,170 | 6,170 | |||||
Debt instrument premium paid on repurchase | 40 | ||||||
Long-term debt, carrying amount | $ 16,763 | $ 16,763 | $ 14,770 | ||||
0.25% Notes due 2027 | |||||||
Debt Instrument [Line Items] | |||||||
Notes, face amount | € | € 400 | € 1,000 | € 500 | ||||
Debt instrument interest rate | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | |
Debt instrument maturity date | 2027 | 2027 | 2027 | ||||
Long-term debt, carrying amount | $ 1,008 | $ 1,008 | $ 550 | ||||
0.50% Notes due 2031 | |||||||
Debt Instrument [Line Items] | |||||||
Notes, face amount | € | € 400 | € 500 | |||||
Debt instrument interest rate | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | |
Debt instrument maturity date | 2031 | 2031 | 2031 | ||||
Long-term debt, carrying amount | $ 1,008 | $ 1,008 | $ 544 | ||||
1.375% Notes due 2026 | |||||||
Debt Instrument [Line Items] | |||||||
Notes, face amount | € | € 1,000 | ||||||
Debt instrument interest rate | 1.375% | 1.375% | 1.375% | 1.375% | 1.375% | ||
Debt instrument maturity date | 2026 | 2026 | 2026 | ||||
Long-term debt, carrying amount | $ 1,119 | $ 1,119 | |||||
2.65% Senior Notes due 2030 | |||||||
Debt Instrument [Line Items] | |||||||
Notes, face amount | € | € 900 | ||||||
Debt instrument interest rate | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | ||
Debt instrument maturity date | 2030 | 2030 | 2030 | ||||
Long-term debt, carrying amount | $ 892 | $ 892 | |||||
2.0% Notes due 2032 | |||||||
Debt Instrument [Line Items] | |||||||
Notes, face amount | $ 1,000 | $ 1,000 | |||||
Debt instrument interest rate | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | ||
Debt instrument maturity date | 2032 | 2032 | 2032 | ||||
Long-term debt, carrying amount | $ 1,119 | $ 1,119 | |||||
4.20% Senior Notes due 2021 | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | ||
Debt instrument maturity date | 2021 | 2021 | 2021 | ||||
Debt instrument, repurchase amount | $ 600 | $ 600 | |||||
Long-term debt, carrying amount | $ 600 | ||||||
3.30% Senior Notes due 2021 | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | ||
Debt instrument maturity date | 2021 | 2021 | 2021 | ||||
Debt instrument, repurchase amount | $ 935 | $ 935 | |||||
Long-term debt, carrying amount | 664 | 664 | $ 1,597 | ||||
Commercial paper programs mature in April 2021 | |||||||
Debt Instrument [Line Items] | |||||||
Committed credit facility agreement aggregated | 1,730 | 1,730 | |||||
Commercial paper programs mature in February 2023 | |||||||
Debt Instrument [Line Items] | |||||||
Committed credit facility agreement aggregated | 2,750 | 2,750 | |||||
Commercial paper programs mature in July 2024 | |||||||
Debt Instrument [Line Items] | |||||||
Committed credit facility agreement aggregated | 1,500 | 1,500 | |||||
Commercial paper programs mature in February 2025 | |||||||
Debt Instrument [Line Items] | |||||||
Committed credit facility agreement aggregated | 2,000 | 2,000 | |||||
Commercial paper borrowings | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | 1,810 | 1,810 | 2,220 | ||||
Long-term debt, carrying amount | $ 1,812 | $ 1,812 | $ 2,222 | ||||
Guaranteed Euro Medium Term Note Program | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt, carrying amount | € | € 5,000 | ||||||
Revolving Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Committed credit facility agreement aggregated | € | € 1,540 | ||||||
Credit facility extended period | 1 year | ||||||
Credit facility drawn | $ 0 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 6 Months Ended | ||||
Jun. 30, 2020USD ($)Country | Jun. 30, 2020EUR (€)Country | Mar. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2017USD ($) | |
Derivative [Line Items] | |||||
Fixed rate debt aggregate | $ 15,500,000,000 | ||||
Variable rate debt aggregate | $ 1,900,000,000 | ||||
Number of countries in which Schlumberger generates revenue | Country | 120 | 120 | |||
Denominated debt issued | € 2,000,000,000 | € 800,000,000 | € 1,500,000,000 | $ 1,100,000,000 | |
Recognized a cumulative loss in accumulated other comprehensive loss relating to changes in the fair value of foreign currency forward contracts and cross-currency swaps | $ 260,000,000 | ||||
2.20% Senior Notes due 2020 | |||||
Derivative [Line Items] | |||||
Notes, face amount | $ 500,000,000 | ||||
Derivative swap interest rate | 2.20% | ||||
2.65% Senior Notes due 2022 | |||||
Derivative [Line Items] | |||||
Notes, face amount | $ 600,000,000 | ||||
Derivative swap interest rate | 2.65% | ||||
Promissory note interest rate | 2.65% | 2.65% | 2.65% | ||
0.00% Notes due 2024 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 500,000,000 | ||||
Derivative swap interest rate | 0.00% | ||||
Promissory note interest rate | 0.00% | 0.00% | 0.00% | ||
0.25% Notes due 2027 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 1,000,000,000 | € 400,000,000 | € 500,000,000 | ||
Derivative swap interest rate | 1.375% | 1.375% | 0.25% | 0.25% | |
Promissory note interest rate | 0.25% | 0.25% | 0.25% | 0.25% | |
0.50% Notes due 2031 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 400,000,000 | € 500,000,000 | |||
Derivative swap interest rate | 0.50% | 0.50% | |||
Promissory note interest rate | 0.50% | 0.50% | 0.50% | 0.50% | |
0.50% Notes due 2031 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 400,000,000 | ||||
Derivative swap interest rate | 0.50% | ||||
1.375% Notes due 2026 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 1,000,000,000 | ||||
Derivative swap interest rate | 1.375% | 1.375% | |||
Promissory note interest rate | 1.375% | 1.375% | 1.375% | ||
2.00% Notes due 2032 | |||||
Derivative [Line Items] | |||||
Notes, face amount | € | € 600,000,000 | ||||
Derivative swap interest rate | 2.00% | 2.00% | |||
Cross currency swaps | |||||
Derivative [Line Items] | |||||
Notional amount of interest rate swap | € 1,600,000,000 | € 800,000,000 | € 1,500,000,000 | $ 1,100,000,000 | |
Cross currency swaps | 2.20% Senior Notes due 2020 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 1.97% | ||||
Cross currency swaps | 2.65% Senior Notes due 2022 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 2.52% | ||||
Cross currency swaps | 0.00% Notes due 2024 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 2.29% | ||||
Cross currency swaps | 0.25% Notes due 2027 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 1.87% | 2.51% | |||
Cross currency swaps | 0.50% Notes due 2031 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 2.20% | 2.76% | |||
Cross currency swaps | 1.375% Notes due 2026 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 2.77% | 2.77% | |||
Cross currency swaps | 2.00% Notes due 2032 | |||||
Derivative [Line Items] | |||||
Promissory note interest rate | 3.45% | 3.45% | |||
Foreign exchange contracts | |||||
Derivative [Line Items] | |||||
Notional amount of interest rate swap | $ 9,800,000,000 | ||||
Foreign exchange contracts | Debt | Derivatives designated as hedges | |||||
Derivative [Line Items] | |||||
Notional amount of interest rate swap | $ 6,000,000,000 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Effect of Derivative Instruments Designated as Fair Value and Cash Flow Hedges and Not Designated as Hedges on Consolidated Statement of Income (Loss) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Derivatives not designated as hedges | Foreign exchange contracts | Cost of services/sales | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ 11 | $ (14) | $ 2 | $ (8) |
Cash Flow Hedging | Derivatives designated as hedges | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | 88 | (24) | 145 | (42) |
Cash Flow Hedging | Derivatives designated as hedges | Foreign exchange contracts | Cost of services/sales | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | (4) | (2) | (5) | (4) |
Cash Flow Hedging | Derivatives designated as hedges | Cross currency swaps | Interest expense | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gain (Loss) Recognized in Income | $ 92 | $ (22) | $ 150 | $ (38) |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Segment Reporting Information [Line Items] | |||||
Revenue | $ 5,356 | $ 8,269 | $ 12,811 | $ 16,149 | |
Income (Loss) Before Taxes | (3,627) | 593 | (11,716) | 1,101 | |
Pretax segment operating income | 396 | 968 | 1,172 | 1,876 | |
Interest expense | 144 | 156 | 281 | 302 | |
Reservoir Characterization | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,052 | 1,558 | 2,363 | 3,017 | |
Drilling | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,731 | 2,420 | 4,020 | 4,806 | |
Production | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,615 | 3,077 | 4,318 | 5,967 | |
Cameron | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,015 | 1,328 | 2,270 | 2,586 | |
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 5,356 | 8,269 | 12,811 | 16,149 | |
Interest income | 2 | 1 | 5 | ||
Interest expense | 7 | 10 | 15 | 20 | |
Operating Segments | Reservoir Characterization | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,052 | 1,558 | 2,363 | 3,017 | |
Income (Loss) Before Taxes | 185 | 317 | 369 | 598 | |
Operating Segments | Drilling | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,731 | 2,420 | 4,020 | 4,806 | |
Income (Loss) Before Taxes | 165 | 301 | 450 | 608 | |
Operating Segments | Production | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,615 | 3,077 | 4,318 | 5,967 | |
Income (Loss) Before Taxes | 25 | 235 | 237 | 453 | |
Operating Segments | Cameron | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,015 | 1,328 | 2,270 | 2,586 | |
Income (Loss) Before Taxes | 80 | 165 | 201 | 313 | |
Eliminations & other | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | (57) | (114) | (160) | (227) | |
Income (Loss) Before Taxes | (59) | (50) | (85) | (96) | |
Corporate & other | [1] | (169) | (238) | (397) | (511) |
Interest income | [2] | 7 | 9 | 22 | 18 |
Interest expense | [3] | (137) | $ (146) | (266) | $ (282) |
Charges and credits | [4] | $ (3,724) | $ (12,247) | ||
[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 ($- million in 2020; $2 million in 2019). | ||||
[3] | Interest expense excludes amounts which are included in the segments’ income ($7 million in 2020; $10 million in 2019). | ||||
[4] | See Note 2 – Charges and Credits |
Segment Information - Schedul_2
Segment Information - Schedule of Segment Reporting Information, by Segment (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Interest expense | $ 144 | $ 156 | $ 281 | $ 302 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 2 | 1 | 5 | |
Interest expense | $ 7 | $ 10 | $ 15 | $ 20 |
Segment Information - Revenue b
Segment Information - Revenue by Geographic Area (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 5,356 | $ 8,269 | $ 12,811 | $ 16,149 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,356 | 8,269 | 12,811 | 16,149 |
Operating Segments | North America | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,183 | 2,801 | 3,463 | 5,539 |
Operating Segments | Latin America | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 543 | 1,115 | 1,488 | 2,107 |
Operating Segments | Europe/CIS/Africa | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,449 | 1,896 | 3,200 | 3,602 |
Operating Segments | Middle East & Asia | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,146 | 2,452 | 4,572 | 4,790 |
Eliminations & other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 35 | $ 5 | $ 88 | $ 111 |
Segment Information - Summary o
Segment Information - Summary of North America and International Revenue Disaggregated by Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 5,356 | $ 8,269 | $ 12,811 | $ 16,149 |
Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,052 | 1,558 | 2,363 | 3,017 |
Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,731 | 2,420 | 4,020 | 4,806 |
Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,615 | 3,077 | 4,318 | 5,967 |
Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,015 | 1,328 | 2,270 | 2,586 |
Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (57) | (114) | (160) | (227) |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,356 | 8,269 | 12,811 | 16,149 |
Operating Segments | Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,052 | 1,558 | 2,363 | 3,017 |
Operating Segments | Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,731 | 2,420 | 4,020 | 4,806 |
Operating Segments | Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,615 | 3,077 | 4,318 | 5,967 |
Operating Segments | Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,015 | 1,328 | 2,270 | 2,586 |
Eliminations & other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 35 | 5 | 88 | 111 |
Eliminations & other | Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 7 | 4 | 10 | 7 |
Eliminations & other | Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 45 | 49 | 89 | 104 |
Eliminations & other | Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2 | 1 | 1 | 2 |
Eliminations & other | Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (2) | (26) | 21 | 29 |
Eliminations & other | Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (17) | (23) | (33) | (31) |
North America | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,183 | 2,801 | 3,463 | 5,539 |
North America | Operating Segments | Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 165 | 242 | 365 | 458 |
North America | Operating Segments | Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 269 | 552 | 792 | 1,128 |
North America | Operating Segments | Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 408 | 1,419 | 1,475 | 2,792 |
North America | Operating Segments | Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 341 | 600 | 847 | 1,182 |
North America | Operating Segments | Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (12) | (16) | (21) | |
International | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 4,138 | 5,463 | 9,260 | 10,499 |
International | Operating Segments | Reservoir Characterization | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 880 | 1,312 | 1,988 | 2,552 |
International | Operating Segments | Drilling | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,417 | 1,819 | 3,139 | 3,574 |
International | Operating Segments | Production | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,205 | 1,657 | 2,842 | 3,173 |
International | Operating Segments | Cameron | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 676 | 754 | 1,402 | 1,375 |
International | Operating Segments | Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ (40) | $ (79) | $ (111) | $ (175) |
Segment Information - Additiona
Segment Information - Additional Information (Detail) - USD ($) $ in Billions | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Segment Reporting [Abstract] | ||
Revenue in excess of billings | $ 0.2 | $ 0.2 |
Total backlog | $ 2.8 | |
Percentage of revenue expected to be recognized over next 12 months | 50.00% | |
Billings and cash collections in excess of revenue | $ 1.1 | $ 0.9 |
Pension and Other Postretirem_3
Pension and Other Postretirement Benefit Plans - Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Curtailment gain | $ 69 | $ 69 | ||
Postretirement medical plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 9 | $ 7 | 18 | $ 15 |
Interest cost | 10 | 12 | 20 | 24 |
Expected return on plan assets | (17) | (17) | (34) | (33) |
Amortization of prior service cost | (7) | (7) | (14) | (14) |
Total pension cost (credit) | (74) | (5) | (79) | (8) |
Curtailment gain | (69) | (69) | ||
US | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 16 | 13 | 31 | 27 |
Interest cost | 38 | 46 | 75 | 91 |
Expected return on plan assets | (59) | (57) | (117) | (115) |
Amortization of prior service cost | 2 | 2 | 4 | 4 |
Amortization of net loss | 11 | 8 | 22 | 16 |
Total pension cost (credit) | 8 | 12 | 15 | 23 |
International | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 37 | 32 | 74 | 64 |
Interest cost | 75 | 83 | 150 | 166 |
Expected return on plan assets | (147) | (148) | (294) | (298) |
Amortization of prior service cost | 2 | 4 | ||
Amortization of net loss | 39 | 15 | 79 | 31 |
Total pension cost (credit) | $ 4 | $ (16) | $ 9 | $ (33) |
Pension and Other Postretirem_4
Pension and Other Postretirement Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Impact of curtailment | $ (69) | $ (69) |
Postretirement medical plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Impact of curtailment | 69 | $ 69 |
Postretirement medical plan | Impairment and Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Impact of curtailment | $ 69 |