Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities, Classification
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Schlumberger Ltd., income tax expense (benefit), continuing operations

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
United States, federal	(23)	2)	(32)	21)	(81)
United States, state	5)	3)	—)	5)	11)
Outside United States	997)	813)	509)	410)	770)
Current	979)	818)	477)	436)	700)
United States, federal	(77)	98)	(132)	(824)	(660)
United States, state	6)	13)	12)	(67)	(93)
Outside United States	104)	(70)	(15)	(563)	(257)
Valuation allowance	(5)	(80)	104)	206)	(1)
Deferred	28)	(39)	(31)	(1,248)	(1,011)
Tax expense (benefit)	1,007)	779)	446)	(812)	(311)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Current	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	Schlumberger Ltd. current increased from 2021 to 2022 and from 2022 to 2023.
Deferred	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	Schlumberger Ltd. deferred decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Tax expense (benefit)	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Schlumberger Ltd. tax expense (benefit) increased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., effective income tax rate (EITR) reconciliation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
US federal statutory tax rate	21.00%	21.00%	21.00%	21.00%	21.00%
Charges and credits	0.00%	-1.00%	0.00%	-14.00%	-19.00%
Other	-2.00%	-2.00%	-2.00%	0.00%	1.00%
Effective tax rate	19.00%	18.00%	19.00%	7.00%	3.00%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Effective tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Schlumberger Ltd., components of deferred tax assets and liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Intangible assets	(844)	(780)	(855)	(881)	(1,790)
Net operating losses	214)	326)	427)	421)	144)
Fixed assets, net	190)	101)	151)	151)	434)
Research and development credits	162)	129)	118)	96)	—)
Capitalized research and development costs	155)	72)	—)	—)	—)
Pension and other postretirement benefits	(94)	(114)	(136)	(31)	—)
Foreign tax credits	—)	—)	—)	—)	312)
Other, net	77)	205)	201)	225)	409)
Net deferred tax assets (liabilities)	(140)	(61)	(94)	(19)	(491)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	Schlumberger Ltd. net deferred tax assets (liabilities) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Schlumberger Ltd., deferred tax assets and liabilities, classification

US$ in millions

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Noncurrent deferred tax liabilities	140)	61)	94)	19)	491)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Noncurrent deferred tax liabilities	Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent.	Schlumberger Ltd. noncurrent deferred tax liabilities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., adjustments to financial statements

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Adjustment to Total Liabilities
Total liabilities (as reported)	26,598)	25,146)	26,225)	29,945)	32,136)
Less: Noncurrent deferred tax liabilities, net	140)	61)	94)	19)	491)
Total liabilities (adjusted)	26,458)	25,085)	26,131)	29,926)	31,645)
Adjustment to Total SLB Stockholders’ Equity
Total SLB stockholders’ equity (as reported)	20,189)	17,685)	15,004)	12,071)	23,760)
Less: Net deferred tax assets (liabilities)	(140)	(61)	(94)	(19)	(491)
Total SLB stockholders’ equity (adjusted)	20,329)	17,746)	15,098)	12,090)	24,251)
Adjustment to Net Income (loss) Attributable To SLB
Net income (loss) attributable to SLB (as reported)	4,203)	3,441)	1,881)	(10,518)	(10,137)
Add: Deferred income tax expense (benefit)	28)	(39)	(31)	(1,248)	(1,011)
Net income (loss) attributable to SLB (adjusted)	4,231)	3,402)	1,850)	(11,766)	(11,148)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Schlumberger Ltd., Financial Data: Reported vs. Adjusted

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Schlumberger Ltd., adjusted financial ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Profit Margin
Reported net profit margin	12.68%	12.25%	8.20%	-44.57%	-30.80%
Adjusted net profit margin	12.77%	12.11%	8.07%	-49.85%	-33.87%
Financial Leverage
Reported financial leverage	2.38	2.44	2.77	3.52	2.37
Adjusted financial leverage	2.36	2.43	2.75	3.51	2.32
Return on Equity (ROE)
Reported ROE	20.82%	19.46%	12.54%	-87.13%	-42.66%
Adjusted ROE	20.81%	19.17%	12.25%	-97.32%	-45.97%
Return on Assets (ROA)
Reported ROA	8.76%	7.98%	4.53%	-24.79%	-18.00%
Adjusted ROA	8.82%	7.89%	4.46%	-27.73%	-19.80%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Schlumberger Ltd. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Schlumberger Ltd. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Schlumberger Ltd. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Schlumberger Ltd. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB	4,203)	3,441)	1,881)	(10,518)	(10,137)
Revenue	33,135)	28,091)	22,929)	23,601)	32,917)
Profitability Ratio
Net profit margin¹	12.68%	12.25%	8.20%	-44.57%	-30.80%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to SLB	4,231)	3,402)	1,850)	(11,766)	(11,148)
Revenue	33,135)	28,091)	22,929)	23,601)	32,917)
Profitability Ratio
Adjusted net profit margin²	12.77%	12.11%	8.07%	-49.85%	-33.87%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Net profit margin = 100 × Net income (loss) attributable to SLB ÷ Revenue
= 100 × 4,203 ÷ 33,135 = 12.68%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to SLB ÷ Revenue
= 100 × 4,231 ÷ 33,135 = 12.77%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Schlumberger Ltd. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets	47,957)	43,135)	41,511)	42,434)	56,312)
Total SLB stockholders’ equity	20,189)	17,685)	15,004)	12,071)	23,760)
Solvency Ratio
Financial leverage¹	2.38	2.44	2.77	3.52	2.37
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Total assets	47,957)	43,135)	41,511)	42,434)	56,312)
Adjusted total SLB stockholders’ equity	20,329)	17,746)	15,098)	12,090)	24,251)
Solvency Ratio
Adjusted financial leverage²	2.36	2.43	2.75	3.51	2.32

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Financial leverage = Total assets ÷ Total SLB stockholders’ equity
= 47,957 ÷ 20,189 = 2.38

² Adjusted financial leverage = Total assets ÷ Adjusted total SLB stockholders’ equity
= 47,957 ÷ 20,329 = 2.36

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Schlumberger Ltd. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB	4,203)	3,441)	1,881)	(10,518)	(10,137)
Total SLB stockholders’ equity	20,189)	17,685)	15,004)	12,071)	23,760)
Profitability Ratio
ROE¹	20.82%	19.46%	12.54%	-87.13%	-42.66%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to SLB	4,231)	3,402)	1,850)	(11,766)	(11,148)
Adjusted total SLB stockholders’ equity	20,329)	17,746)	15,098)	12,090)	24,251)
Profitability Ratio
Adjusted ROE²	20.81%	19.17%	12.25%	-97.32%	-45.97%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROE = 100 × Net income (loss) attributable to SLB ÷ Total SLB stockholders’ equity
= 100 × 4,203 ÷ 20,189 = 20.82%

² Adjusted ROE = 100 × Adjusted net income (loss) attributable to SLB ÷ Adjusted total SLB stockholders’ equity
= 100 × 4,231 ÷ 20,329 = 20.81%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Schlumberger Ltd. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB	4,203)	3,441)	1,881)	(10,518)	(10,137)
Total assets	47,957)	43,135)	41,511)	42,434)	56,312)
Profitability Ratio
ROA¹	8.76%	7.98%	4.53%	-24.79%	-18.00%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to SLB	4,231)	3,402)	1,850)	(11,766)	(11,148)
Total assets	47,957)	43,135)	41,511)	42,434)	56,312)
Profitability Ratio
Adjusted ROA²	8.82%	7.89%	4.46%	-27.73%	-19.80%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROA = 100 × Net income (loss) attributable to SLB ÷ Total assets
= 100 × 4,203 ÷ 47,957 = 8.76%

² Adjusted ROA = 100 × Adjusted net income (loss) attributable to SLB ÷ Total assets
= 100 × 4,231 ÷ 47,957 = 8.82%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Schlumberger Ltd. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd. (NYSE:SLB)

Analysis of Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities, Classification

Adjustments to Financial Statements: Removal of Deferred Taxes

Schlumberger Ltd., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Schlumberger Ltd., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)