Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations

17. Discontinued Operations

During the second quarter of 2013, Schlumberger completed the wind down of its operations in Iran and, therefore, has classified the historical results of this business as a discontinued operation.

During the second quarter of 2012, Schlumberger sold its Wilson distribution business to National Oilwell Varco Inc. (“NOV”) for $906 million in cash. During the third quarter of 2012, Schlumberger completed the sale of its 56% interest in CE Franklin Ltd. to NOV for $122 million in cash. As Wilson and CE Franklin comprised Schlumberger’s entire Distribution segment, the results of this segment were classified as discontinued operations in the Consolidated Statement of Income.

The following table summarizes the results of these discontinued operations (in millions):

	Third Quarter						Nine Months
	2013		2012			2013				2012
Revenue	$	—	$	110		$		102		$	1,308
Income (loss) before taxes	$	—	$	59		$		(63	)	$	221
Tax expense		—		(6	)			(6	)		(33	)
Net income attributable to noncontrolling interests		—		—				—			(5	)
Gain on divestiture, net of tax		—		12				—			28
Income (loss) from discontinued operations	$	—	$	65		$		(69	)	$	211