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Long-term Debt
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Long-term Debt

7.   Long-term Debt

A summary of Long-term Debt follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

Jun. 30,

 

 

Dec. 31,

 

 

2021

 

 

2020

 

3.65% Senior Notes due 2023

$

1,497

 

 

$

1,496

 

3.90% Senior Notes due 2028

 

1,453

 

 

 

1,450

 

2.65% Senior Notes due 2030

 

1,250

 

 

 

1,250

 

1.375% Guaranteed Notes due 2026

 

1,191

 

 

 

1,221

 

2.00% Guaranteed Notes due 2032

 

1,184

 

 

 

1,214

 

0.25% Notes due 2027

 

1,072

 

 

 

1,100

 

0.50% Notes due 2031

 

1,071

 

 

 

1,099

 

2.40% Senior Notes due 2022

 

999

 

 

 

999

 

4.00% Senior Notes due 2025

 

930

 

 

 

930

 

4.30% Senior Notes due 2029

 

846

 

 

 

846

 

3.75% Senior Notes due 2024

 

747

 

 

 

746

 

1.00% Guaranteed Notes due 2026

 

715

 

 

 

736

 

0.00% Notes due 2024

 

596

 

 

 

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

 

192

 

 

 

393

 

 

$

15,687

 

 

$

16,036

 

 

The estimated fair value of Schlumberger’s Long-term Debt, based on quoted market prices at June 30, 2021 and December 31, 2020, was $16.7 billion and $17.3 billion, respectively.

During the second quarter of 2021, Schlumberger replaced its €1.54 billion one-year committed facility with a €750 million three-year committed revolving credit facility maturing in June 2024.  At June 30, 2021 no amounts had been drawn under this facility.

In addition to the revolving credit facility described above, at June 30, 2021, Schlumberger had separate committed credit facility agreements aggregating $5.75 billion with commercial banks, of which $5.56 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 $1.0 billion matures in July 2026.  Interest rates and other terms of borrowing under these lines of credit vary by facility.

Borrowings under the commercial paper programs at June 30, 2021 and December 31, 2020 were $0.2 billion and $0.4 billion, respectively, all of which was classified in Long-term debt in the Consolidated Balance Sheet.   

During the second quarter of 2021, Schlumberger repurchased all $665 million of its 3.30% Senior Notes due 2021.

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.

During the second quarter of 2020, Schlumberger issued €1.0 billion of 1.375% Guaranteed Notes due 2026, $900 million of 2.65% Senior Notes due 2030 and €1.0 billion of 2.00% Guaranteed Notes due 2032.

 

During the second quarter of 2020, Schlumberger repurchased all $600 million of its 4.20% Senior Notes due 2021 and $935 million of its 3.30% Senior Notes due 2021.  Schlumberger paid a premium of approximately $40 million in connection with these repurchases.  This premium was classified in Impairments & other in the Consolidated Statement of Income (Loss).  See Note 2 – Charges and Credits.          

During the second quarter of 2020, Schlumberger established a €5.0 billion Guaranteed Euro Medium Term Note program that provides for the issuance of various types of debt instruments such as fixed or floating rate notes in euro, US dollar or other currencies.  Schlumberger has not issued any debt under this program.

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.