During the second quarter of 2024, SLB started a program to realign and optimize its support and service delivery structure in certain parts of its organization. As a result, SLB recorded severance charges of $111 million during the second quarter of 2024 and $65 million during the third quarter of 2024, which are classified in Restructuring in the Consolidated Statement of Income.

In connection with the October 2023 acquisition of the Aker Solutions subsea business and the pending ChampionX transaction, SLB recorded $103 million of charges during the first nine months of 2024, consisting of: $43 million relating to the amortization of purchase accounting adjustments associated with the write-up of acquired inventories to its estimated fair value, and $60 million of other merger and integration-related costs. $43 million of these costs are classified in Cost of sales in the Consolidated Statement of Income, with the remaining $60 million classified in Merger & integration.


	(Stated in millions)

					Noncontrolling
	Pretax Charge		Tax Benefit		Interests		Net
First quarter:
Merger & integration	$	25	$	6	$	5	$	14
Second quarter:
Workforce reductions		111		17		-		94
Merger & integration		31		5		8		18
Third quarter:
Workforce reductions		65		10		-		55
Merger & integration		47		10		7		30
	$	279	$	48	$	20	$	211

On December 31, 2020, SLB contributed its onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand business to Liberty Energy Inc. (“Liberty”) in exchange for an equity interest in Liberty. During the first quarter of 2023, SLB sold all of its remaining approximately 9 million shares of Liberty and received net proceeds of $137 million. As a result, SLB recognized a pretax gain of $36 million ($28 million after-tax), which is classified in Interest & other income in the Consolidated Statement of Income.

SLB did not record any charges or credits during the second and third quarters of 2023.