Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

16. Segment Information

SLB is organized under four Divisions that combine and integrate SLB’s technologies, enhancing the Company’s ability to support the emerging long-term growth opportunities in each of these market segments.

The four Divisions, representing SLB’s segments, are:

•Digital & Integration – Combines SLB’s industry-leading digital solutions and data products with its integrated offering of Asset Performance Solutions.

•Reservoir Performance – Consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance.

•Well Construction – Combines the full portfolio of products and services to optimize well placement and performance, maximize drilling efficiency, and improve wellbore assurance.

•Production Systems – Develops technologies and provides expertise that enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries.

Financial information by segment is as follows:

				(Stated in millions)
	2023
									Depreciation
				Pretax					and		Capital
	Revenue			Income			Assets		Amortization		Investments
Digital & Integration	$	3,871		$	1,257		$	3,089	$	578	$	660
Reservoir Performance		6,561			1,263			3,491		387		514
Well Construction		13,478			2,932			7,129		587		908
Production Systems		9,831			1,245			6,640		325		384
Eliminations & other		(606	)		(174	)		1,352		277		133
Pretax segment operating income					6,523
Goodwill and intangible assets								17,323
Cash and short-term investments								3,989
All other assets								4,944
Corporate & other (1)					(729	)				158
Interest income (2)					87
Interest expense (3)					(489	)
Charges & credits (4)					(110	)
	$	33,135		$	5,282		$	47,957	$	2,312	$	2,599

				(Stated in millions)
	2022
									Depreciation
				Pretax					and		Capital
	Revenue			Income			Assets		Amortization		Investments
Digital & Integration	$	3,725		$	1,357		$	3,132	$	504	$	689
Reservoir Performance		5,553			881			3,159		386		478
Well Construction		11,397			2,202			6,481		524		687
Production Systems		7,862			748			5,603		311		346
Eliminations & other		(446	)		(177	)		1,426		271		102
Pretax segment operating income					5,011
Goodwill and intangible assets								15,974
Cash and short-term investments								2,897
All other assets								4,463
Corporate & other (1)					(637	)				151
Interest income (2)					27
Interest expense (3)					(477	)
Charges & credits (4)					347
	$	28,091		$	4,271		$	43,135	$	2,147	$	2,302

				(Stated in millions)
	2021
									Depreciation
				Pretax					and		Capital
	Revenue			Income			Assets		Amortization		Investments
Digital & Integration	$	3,290		$	1,141		$	3,134	$	446	$	516
Reservoir Performance		4,599			648			2,923		415		348
Well Construction		8,706			1,195			4,714		537		424
Production Systems		6,710			634			4,684		302		267
Eliminations & other		(376	)		(253	)		1,501		269		99
Pretax segment operating income					3,365
Goodwill and intangible assets								16,201
Cash and short-term investments								3,139
All other assets								5,215
Corporate & other (1)					(573	)				151
Interest income (2)					31
Interest expense (3)					(514	)
Charges & credits (4)					65
	$	22,929		$	2,374		$	41,511	$	2,120	$	1,654

(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 (2023: $12 million; 2022: $72 million; 2021: $2 million).

(3)Interest expense excludes amounts which are included in the segments’ income (2023: $14 million; 2022: $13 million; 2021: $15 million) and $10 million interest expense included in Charges and credits in 2021.

(4)See Note 3 – Charges and Credits.

Segment assets consist of receivables, inventories, fixed assets, exploration data, and APS investments.

Capital investments includes capital expenditures, APS investments, and exploration data cost capitalized.

Depreciation and amortization includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.

Revenue by geographic area for the years ended December 31, 2023, 2022, and 2021 was as follows:

(Stated in millions)
	2023		2022		2021
North America	$	6,727	$	5,995	$	4,466
Latin America		6,645		5,661		4,459
Europe & Africa *		8,524		7,201		5,778
Middle East & Asia		11,019		9,033		8,059
Eliminations & other		220		201		167
	$	33,135	$	28,091	$	22,929

* Includes Russia and the Caspian region

Revenue is based on the location where services are provided and products are sold.

During each of the three years ended December 31, 2023, 2022, and 2021, no single customer exceeded 10% of consolidated revenue.

SLB did not have revenue from third-party customers in its country of domicile during the last three years. Revenue in the United States in 2023, 2022, and 2021 was $5.4 billion, $4.6 billion, and $3.4 billion, respectively.

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

(Stated in millions)
	2023
	North America			International			Other			Total
Digital & Integration	$	984		$	2,881		$	6		$	3,871
Reservoir Performance		498			6,057			6			6,561
Well Construction		2,709			10,530			239			13,478
Production Systems		2,598			7,219			14			9,831
Eliminations & other		(62	)		(499	)		(45	)		(606	)
	$	6,727		$	26,188		$	220		$	33,135

(Stated in millions)
	2022
	North America			International			Other			Total
Digital & Integration	$	1,069		$	2,651		$	5		$	3,725
Reservoir Performance		455			5,091			7			5,553
Well Construction		2,311			8,875			211			11,397
Production Systems		2,176			5,675			11			7,862
Eliminations & other		(16	)		(397	)		(33	)		(446	)
	$	5,995		$	21,895		$	201		$	28,091

(Stated in millions)
	2021
	North America		International			Other			Total
Digital & Integration	$	812	$	2,474		$	4		$	3,290
Reservoir Performance		329		4,266			4			4,599
Well Construction		1,485		7,025			196			8,706
Production Systems		1,832		4,865			13			6,710
Eliminations & other		8		(334	)		(50	)		(376	)
	$	4,466	$	18,296		$	167		$	22,929

Fixed Assets less accumulated depreciation by geographic area was as follows:

(Stated in millions)
	2023		2022
North America	$	1,469	$	1,459
Latin America		1,071		913
Europe & Africa		1,724		1,668
Middle East & Asia		2,468		2,099
Unallocated		508		468
	$	7,240	$	6,607