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Long-term Debt
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Long-term Debt

8.   Long-term Debt

A summary of Long-term Debt follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

Mar. 31,

 

 

Dec. 31,

 

 

2021

 

 

2020

 

3.65% Senior Notes due 2023

$

1,496

 

 

$

1,496

 

3.90% Senior Notes due 2028

 

1,452

 

 

 

1,450

 

2.65% Senior Notes due 2030

 

1,250

 

 

 

1,250

 

1.375% Guaranteed Notes due 2026

 

1,173

 

 

 

1,221

 

2.00% Guaranteed Notes due 2032

 

1,167

 

 

 

1,214

 

0.25% Notes due 2027

 

1,057

 

 

 

1,100

 

0.50% Notes due 2031

 

1,056

 

 

 

1,099

 

2.40% Senior Notes due 2022

 

999

 

 

 

999

 

4.00% Senior Notes due 2025

 

930

 

 

 

930

 

4.30% Senior Notes due 2029

 

845

 

 

 

846

 

3.75% Senior Notes due 2024

 

747

 

 

 

746

 

1.00% Guaranteed Notes due 2026

 

703

 

 

 

736

 

0.00% Notes due 2024

 

588

 

 

 

611

 

2.65% Senior Notes due 2022

 

599

 

 

 

598

 

1.40% Senior Notes due 2025

 

498

 

 

 

498

 

3.63% Senior Notes due 2022

 

295

 

 

 

295

 

7.00% Notes due 2038

 

205

 

 

 

206

 

5.95% Notes due 2041

 

113

 

 

 

114

 

5.13% Notes due 2043

 

99

 

 

 

99

 

4.00% Notes due 2023

 

80

 

 

 

80

 

3.70% Notes due 2024

 

55

 

 

 

55

 

Commercial paper borrowings

 

427

 

 

 

393

 

 

$

15,834

 

 

$

16,036

 

 

The estimated fair value of Schlumberger’s Long-term Debt, based on quoted market prices at March 31, 2021 and December 31, 2020, was $17.5 billion and $17.3 billion, respectively.

During the second quarter of 2020, Schlumberger entered into a €1.54 billion one-year committed revolving credit facility.  In March 2021, Schlumberger exercised an option to extend this facility for six months.  This facility can be extended for a further six months at Schlumberger’s election.  In April 2021, Schlumberger reduced the size of the facility to €0.75 billion.  At March 31, 2021 no amounts had been drawn under this facility.

In addition to the revolving credit facility described above, at March 31, 2021, Schlumberger had separate committed credit facility agreements aggregating $6.25 billion with commercial banks, of which $5.82 billion was available and unused.  These committed facilities support commercial paper programs in the United States and Europe, of which $2.75 billion matures in February 2023, $2.0 billion matures in February 2025 and $1.5 billion matures in July 2025.  Interest rates and other terms of borrowing under these lines of credit vary by facility.

Borrowings under the commercial paper programs at both March 31, 2021 and December 31, 2020 were $0.4 billion, all of which was classified in Long-term debt in the Consolidated Balance Sheet.   

During the first quarter of 2020, Schlumberger issued €400 million of 0.25% Notes due 2027 and €400 million of 0.50% Notes due 2031.

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA and Schlumberger Finance Canada Ltd., both wholly-owned subsidiaries of Schlumberger.