Pension and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Weighted-Average Assumed Discount Rate, Compensation Increases and Expected Long-Term Rate of Return on Plan Assets Used to Determine Net Pension Cost for US and International Plans

The weighted-average assumed discount rate, compensation increases and expected long-term rate of return on plan assets used to determine the net pension cost for the US and International plans were as follows:

	US									International
	2024			2023			2022			2024			2023			2022
Discount rate		5.25	%		5.50	%		3.00	%		5.14	%		5.41	%		2.83	%
Compensation increases		4.00	%		4.00	%		4.00	%		4.84	%		4.84	%		4.83	%
Return on plan assets		6.00	%		6.00	%		4.40	%		5.91	%		6.00	%		5.05	%

Net Pension Cost (Credit) for Schlumberger Pension Plans and US Postretirement Medical Plan

Net pension cost (credit) included the following components:

(Stated in millions)
	US									International
	2024			2023			2022			2024			2023			2022
Service cost	$	23		$	23		$	37		$	56		$	54		$	101
Interest cost		173			178			137			413			407			298
Expected return on plan assets		(200	)		(198	)		(202	)		(553	)		(607	)		(530	)
Amortization of net loss		-			-			5			10			-			80
	$	(4	)	$	3		$	(23	)	$	(74	)	$	(146	)	$	(51	)

The net credit for the US postretirement medical plan included the following components:

(Stated in millions)
	2024			2023			2022
Service cost	$	19		$	16		$	23
Interest cost		41			42			33
Expected return on plan assets		(42	)		(41	)		(38	)
Amortization of prior service credit		(23	)		(23	)		(23	)
Amortization of net gain		(13	)		(12	)		(10	)
	$	(18	)	$	(18	)	$	(15	)

Weighted-Average Assumed Discount Rate and Compensation Increases Used to Determine Projected Benefit Obligations for US and International Plans

The weighted-average assumed discount rate and compensation increases used to determine the projected benefit obligations for the US and International plans were as follows:

	US						International
	2024			2023			2024			2023
Discount rate		5.70	%		5.25	%		5.67	%		5.14	%
Compensation increases		4.00	%		4.00	%		4.85	%		4.84	%

Changes In Projected Benefit Obligation Plan Assets And Funded Status Of Plans

The changes in the projected benefit obligation, plan assets and funded status of the plans were as follows:

(Stated in millions)
	US						International
	2024			2023			2024			2023
Change in Projected Benefit Obligations:
Projected benefit obligation at beginning of year	$	3,413		$	3,315		$	8,109		$	7,598
Service cost		23			23			56			54
Interest cost		173			178			413			407
Contribution by plan participants		-			-			61			52
Actuarial losses (gains)		(160	)		117			(457	)		302
Currency effect		-			-			(2	)		56
Benefits paid		(224	)		(220	)		(384	)		(360	)
Projected benefit obligation at end of year	$	3,225		$	3,413		$	7,796		$	8,109
Change in Plan Assets:
Plan assets at fair value at beginning of year	$	3,427		$	3,396		$	8,390		$	8,126
Actual return on plan assets		(38	)		242			(408	)		494
Currency effect		-			-			(2	)		71
Company contributions		10			9			17			7
Contributions by plan participants		-			-			61			52
Benefits paid		(224	)		(220	)		(384	)		(360	)
Plan assets at fair value at end of year	$	3,175		$	3,427		$	7,674		$	8,390
Asset / (Unfunded Liability)	$	(50	)	$	14		$	(122	)	$	281
Amounts Recognized in Balance Sheet:
Postretirement Benefits	$	(154	)	$	(159	)	$	(358	)	$	(16	)
Other Assets		104			173			236			297
	$	(50	)	$	14		$	(122	)	$	281
Amounts Recognized in Accumulated Other Comprehensive Loss:
Actuarial losses	$	405		$	328		$	2,296		$	1,804
Accumulated benefit obligation	$	3,137		$	3,313		$	7,634		$	7,942

Weighted-Average Allocation of Plan Assets and Target Allocation by Asset Category

Actuarial gains and losses arising during 2024 and 2023 were primarily attributable to changes in the discount rate used to determine the PBO.

The weighted-average allocation of plan assets as of December 31, 2024 and 2023 and the target allocations by asset category as of December 31, 2024 were as follows:

	US									International
	Target			2024			2023			Target			2024			2023
Cash and cash equivalents	0 - 3		%		1	%		1	%	0 - 5		%		1	%		3	%
Equity securities	0 - 5				2			-		0 - 5				3			1
Debt securities	80 - 90				82			84		60 - 70				69			69
Private equity and real estate	5 - 12				9			10		15 - 20				17			17
Private debt	2 - 8				6			5		9 - 15				10			10
		100	%		100	%		100	%		100	%		100	%		100	%

Fair Value of Schlumberger's Pension Plan Assets

The fair value of SLB’s pension plan assets at December 31, 2024 and 2023, by asset category, is presented below and was determined based on valuation techniques categorized as follows:

•Level One: The use of quoted prices in active markets for identical instruments.

•Level Two: The use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or other inputs that are observable in the market or can be corroborated by observable market data.

•Level Three: The use of significant unobservable inputs that typically require the use of management’s estimates of assumptions that market participants would use in pricing.

(Stated in millions)
	US Plan Assets
	2024								2023
			Level		Level		Level				Level		Level		Level
	Total		One		Two		Three		Total		One		Two		Three
Asset Category:
Cash and Cash Equivalents	$	33	$	33	$	-	$	-	$	33	$	33	$	-	$	-
Equity Securities		70		58		12		-		6		-		6		-
Debt Securities:
Corporate bonds		1,713		-		1,713		-		1,540		-		1,540		-
Government and related debt securities		861		13		848		-		1,334		163		1,171		-
Other		13		-		13		-		12		-		12		-
Alternative Investments:
Private equity		234		-		-		234		287		-		-		287
Private debt		186		-		-		186		148		-		-		148
Real estate		65		-		-		65		67		-		-		67
Total	$	3,175	$	104	$	2,586	$	485	$	3,427	$	196	$	2,729	$	502

(Stated in millions)
	International Plan Assets
	2024								2023
			Level		Level		Level				Level		Level		Level
	Total		One		Two		Three		Total		One		Two		Three
Asset Category:
Cash and Cash Equivalents	$	90	$	89	$	1	$	-	$	267	$	260	$	7	$	-
Equity Securities		264		264						122		122
Debt Securities:
Corporate bonds		2,948		-		2,948		-		3,001		-		3,001		-
Government and related debt securities		1,969		448		1,521		-		2,466		563		1,903		-
Other		390		-		390		-		292		-		292		-
Alternative Investments:
Private equity		1,136		-		-		1,136		1,269		-		-		1,269
Private debt		738		-		-		738		805		-		-		805
Real estate		139		-		-		139		168		-		-		168
Total	$	7,674	$	801	$	4,860	$	2,013	$	8,390	$	945	$	5,203	$	2,242

Defined Benefit Plan Weighted Average Assumptions Used in Calculating Benefit Obligation and Net Periodic Benefit Cost for US Postretirement Medical Plan

The actuarial assumptions used to determine the accumulated postretirement benefit obligation and net periodic benefit cost for the US postretirement medical plan were as follows:

	Benefit Obligation						Net Periodic Benefit
	At December 31,						Cost for the Year
	2024			2023			2024			2023			2022
Discount rate		5.25	%		5.25	%		5.25	%		5.50	%		3.00	%
Return on plan assets	-			-				4.43	%		4.41	%		2.94	%
Current medical cost trend rate		7.25	%		7.50	%		7.25	%		7.50	%		6.75	%
Ultimate medical cost trend rate		4.50	%		4.50	%		4.50	%		4.50	%		4.50	%
Year that the rate reaches the ultimate trend rate		2035			2035			2035			2035			2031

Changes in Accumulated Postretirement Benefit Obligation, Plan Assets and Funded Status

The changes in the accumulated postretirement benefit obligation, plan assets and funded status were as follows:

(Stated in millions)
	2024			2023
Change in Accumulated Postretirement Benefit Obligation:
Benefit obligation at beginning of year	$	805		$	808
Service cost		19			16
Interest cost		41			42
Contribution by plan participants		6			7
Actuarial gains		(37	)		(7	)
Benefits paid		(53	)		(61	)
Benefit obligation at end of year	$	781		$	805
Change in Plan Assets:
Plan assets at fair value at beginning of year	$	964		$	938
Actual return on plan assets		1			87
Contributions by plan participants		6			7
Benefits paid		(58	)		(68	)
Plan assets at fair value at end of year	$	913		$	964
Asset	$	132		$	159
Amounts Recognized in Accumulated Other Comprehensive Loss:
Actuarial gains	$	224		$	239
Prior service credit		13			36
	$	237		$	275

Expected Benefits to be Paid Under US and International Pension Plans and Postretirement Medical Plan

The expected benefits to be paid under the US and International pension plans as well as the postretirement medical plan are as follows:

(Stated in millions)
	Pension Plans				Postretirement
	US		International		Medical Plan
2025	$	230	$	423	$	49
2026	$	233	$	437	$	50
2027	$	232	$	454	$	51
2028	$	233	$	469	$	53
2029	$	234	$	475	$	55
2030-2034	$	1,180	$	2,591	$	310