Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

10. Segment Information

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

(1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.

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

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

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

(1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items.

(2)Interest income excludes amounts that are included in the segments’ income ($2 million in 2023; $53 million in 2022).

(3)Interest expense excludes amounts that are included in the segments’ income ($10 million in 2023; $9 million in 2022).

(4)See Note 2 – Charges and Credits.

Revenue by geographic area was as follows:

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

(1)Includes Russia and the Caspian region.

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

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

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

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

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

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