Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
SLB N.V., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The balance sheet reflects a significant strengthening of the capital structure over the analyzed period, characterized by a substantial expansion in total equity and a strategic shift in the composition of liabilities. Total liabilities and equity grew from 42,036 million USD in March 2021 to 56,200 million USD by September 2026, indicating an overall growth in the company's asset base and financial scale.
- Liability Trends and Debt Management
- Current liabilities exhibited a consistent upward trajectory, increasing from 9,873 million USD in March 2021 to 14,757 million USD in September 2026. This growth was primarily driven by accounts payable and accrued liabilities, which rose from 7,956 million USD to 11,955 million USD over the same period. Short-term borrowings showed higher volatility, peaking in March 2025 at 3,475 million USD before stabilizing around 1,653 million USD by late 2026.
- Long-term debt, excluding the current portion, demonstrated a general trend of deleveraging for several years, falling from a peak of 15,834 million USD in March 2021 to a low of 9,670 million USD in March 2025. However, a slight increase is observed in the final quarters, with the balance returning to 11,147 million USD by September 2026.
- Equity Expansion and Capital Allocation
- Total equity experienced robust growth, more than doubling from 12,972 million USD in March 2021 to 27,213 million USD in September 2026. A primary driver of this expansion was the steady and uninterrupted increase in retained earnings, which climbed from 7,142 million USD to 19,006 million USD, signaling consistent profitability and a strong capacity for internal funding.
- Shareholder return strategies are evident in the treasury stock account, which moved from -2,598 million USD in March 2021 to -4,698 million USD in September 2026, indicating an aggressive program of share repurchases. Additionally, common stock saw a notable step-increase in September 2024, rising from approximately 11,400 million USD to over 16,300 million USD.
- Financial Solvency and Risk Profile
- The relationship between liabilities and equity shifted favorably over the period. While total liabilities remained relatively stable—fluctuating between 25,146 million USD and 28,987 million USD—the rapid growth in total equity significantly reduced the company's overall leverage. The increase in the equity-to-assets ratio suggests a lower reliance on external debt and a more resilient financial cushion against market volatility.
- Noncontrolling interests remained relatively stable for the first few years before increasing significantly in December 2023 to 1,170 million USD and maintaining that higher level through 2026, suggesting changes in subsidiary ownership or the acquisition of new minority-owned interests.
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