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Microsoft Excel LibreOffice Calc

Schlumberger Ltd. (SLB)


Analysis of Goodwill and Intangible Assets

Advanced level


Goodwill and Intangible Asset Disclosure

Schlumberger Ltd., balance sheet: goodwill and intangible assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Customer relationships
Technology/technical know-how
Tradenames
Other
Intangible assets, gross book value
Accumulated amortization
Intangible assets, net book value
Goodwill
Intangible assets and goodwill

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

Item Description The company
Intangible assets, net book value Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Schlumberger Ltd.’s intangible assets, net book value decreased from 2017 to 2018 and from 2018 to 2019.
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Schlumberger Ltd.’s goodwill decreased from 2017 to 2018 and from 2018 to 2019.
Intangible assets and goodwill Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Schlumberger Ltd.’s intangible assets and goodwill decreased from 2017 to 2018 and from 2018 to 2019.

Adjustments to Financial Statements: Removal of Goodwill

Schlumberger Ltd., adjustments to financial statements

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Adjustment to Total Assets
Total assets (as reported)
Less: Goodwill
Total assets (adjusted)
Adjustment to Total Schlumberger Stockholders’ Equity
Total Schlumberger stockholders’ equity (as reported)
Less: Goodwill
Total Schlumberger stockholders’ equity (adjusted)
Adjustment to Net Income (loss) Attributable To Schlumberger
Net income (loss) attributable to Schlumberger (as reported)
Add: Goodwill impairment
Net income (loss) attributable to Schlumberger (adjusted)

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).


Schlumberger Ltd., Financial Data: Reported vs. Adjusted


Adjusted Financial Ratios: Removal of Goodwill (Summary)

Schlumberger Ltd., adjusted financial ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

Financial ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Schlumberger Ltd.’s adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Schlumberger Ltd.’s adjusted total asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019.
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.’s adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Schlumberger Ltd.’s adjusted ROE improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Schlumberger Ltd.’s adjusted ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Schlumberger Ltd., Financial Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Schlumberger
Revenue
Profitability Ratio
Net profit margin1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Schlumberger
Revenue
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

2019 Calculations

1 Net profit margin = 100 × Net income (loss) attributable to Schlumberger ÷ Revenue
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to Schlumberger ÷ Revenue
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Schlumberger Ltd.’s adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Adjusted Total Asset Turnover

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Revenue
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenue
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

2019 Calculations

1 Total asset turnover = Revenue ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Schlumberger Ltd.’s adjusted total asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019.

Adjusted Financial Leverage

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Total assets
Total Schlumberger stockholders’ equity
Solvency Ratio
Financial leverage1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets
Adjusted total Schlumberger stockholders’ equity
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

2019 Calculations

1 Financial leverage = Total assets ÷ Total Schlumberger stockholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Schlumberger stockholders’ equity
= ÷ =

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.’s adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Adjusted Return on Equity (ROE)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Schlumberger
Total Schlumberger stockholders’ equity
Profitability Ratio
ROE1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Schlumberger
Adjusted total Schlumberger stockholders’ equity
Profitability Ratio
Adjusted ROE2

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

2019 Calculations

1 ROE = 100 × Net income (loss) attributable to Schlumberger ÷ Total Schlumberger stockholders’ equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to Schlumberger ÷ Adjusted total Schlumberger stockholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Schlumberger Ltd.’s adjusted ROE improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Adjusted Return on Assets (ROA)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Schlumberger
Total assets
Profitability Ratio
ROA1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Schlumberger
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).

2019 Calculations

1 ROA = 100 × Net income (loss) attributable to Schlumberger ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to Schlumberger ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Schlumberger Ltd.’s adjusted ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.