Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

14. Leases

SLB’s leasing activities primarily consist of operating leases for administrative offices, manufacturing facilities, research centers, service centers, sales offices, and certain equipment. Total operating lease expense, which approximates cash paid and includes short-term leases, was $1.4 billion in 2023 and $1.2 billion in both 2022 and 2021.

Maturities of operating lease liabilities as of December 31, 2023 were as follows:

(Stated in millions)
2024	$	208
2025		170
2026		117
2027		98
2028		80
Thereafter		271
Total lease payments	$	944
Less: Interest		(134	)
	$	810
Amounts recognized in balance sheet:
Accounts payable and accrued liabilities	$	201
Other Liabilities		609
	$	810

The weighted-average remaining lease term as of December 31, 2023 was 9 years. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2023 was 3.6%.