SLB N.V. (NYSE:SLB)

The carrying amount of total debt exhibited a generally decreasing trend over the five-year period, with some fluctuation. Initial values decreased before stabilizing and then experiencing a slight increase towards the end of the period.

Overall Trend

Total debt decreased from US$14,195 million in 2021 to US$11,636 million in 2025. The most significant reduction occurred between 2021 and 2022, with a decrease of US$1,969 million. While the debt decreased overall, it did not follow a strictly linear path.

Short-Term Debt

Short-term borrowings and the current portion of long-term debt demonstrated volatility. It increased substantially from US$909 million in 2021 to US$1,632 million in 2022, then decreased to US$1,123 million in 2023, followed by a further decrease to US$1,051 million in 2024. A notable increase to US$1,894 million was observed in 2025.

Long-Term Debt

Long-term debt, excluding the current portion, showed a more moderate pattern. It decreased from US$13,286 million in 2021 to US$10,594 million in 2022. Subsequently, it increased slightly to US$10,842 million in 2023 and US$11,023 million in 2024 before decreasing to US$9,742 million in 2025. The fluctuations in long-term debt were less pronounced than those observed in short-term debt.

Combined Effect

The interplay between short-term and long-term debt influenced the total debt figure. The initial decrease in total debt from 2021 to 2022 was largely driven by the reduction in long-term debt. The increase in total debt from 2024 to 2025 was primarily due to the increase in short-term debt, partially offsetting the decrease in long-term debt.

The observed trends suggest a potential strategy of managing debt maturity profiles, with shifts between short-term and long-term financing. The increase in short-term debt in the final year warrants further investigation to understand the underlying reasons and potential implications for liquidity.