Schlumberger Ltd., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	323)	326)	372)	362)	483)
Buildings & improvements	4,569)	4,328)	4,371)	3,757)	5,156)
Machinery & equipment	25,073)	23,732)	24,334)	25,625)	29,370)
Fixed assets	29,965)	28,386)	29,077)	29,744)	35,009)
Accumulated depreciation	(22,725)	(21,779)	(22,648)	(22,918)	(25,739)
Fixed assets less accumulated depreciation	7,240)	6,607)	6,429)	6,826)	9,270)

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Item	Description	The company
Fixed assets	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Schlumberger Ltd. fixed assets decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Fixed assets less accumulated depreciation	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Schlumberger Ltd. fixed assets less accumulated depreciation increased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	76.66%	77.62%	78.90%	78.00%	74.55%
Estimated total useful life (years)	21	21	20	18	17
Estimated age, time elapsed since purchase (years)	16	16	16	14	13
Estimated remaining life (years)	5	5	4	4	4

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Schlumberger Ltd. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Schlumberger Ltd. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Schlumberger Ltd. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Schlumberger Ltd. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	22,725)	21,779)	22,648)	22,918)	25,739)
Fixed assets	29,965)	28,386)	29,077)	29,744)	35,009)
Land	323)	326)	372)	362)	483)
Asset Age Ratio
Average age¹	76.66%	77.62%	78.90%	78.00%	74.55%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Fixed assets – Land)
= 100 × 22,725 ÷ (29,965 – 323) = 76.66%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Schlumberger Ltd. average age ratio of depreciable property, plant and equipment 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
Selected Financial Data (US$ in millions)
Fixed assets	29,965)	28,386)	29,077)	29,744)	35,009)
Land	323)	326)	372)	362)	483)
Depreciation of fixed assets	1,445)	1,368)	1,402)	1,625)	1,976)
Asset Age Ratio (Years)
Estimated total useful life¹	21	21	20	18	17

2023 Calculations

¹ Estimated total useful life = (Fixed assets – Land) ÷ Depreciation of fixed assets
= (29,965 – 323) ÷ 1,445 = 21

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Schlumberger Ltd. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	22,725)	21,779)	22,648)	22,918)	25,739)
Depreciation of fixed assets	1,445)	1,368)	1,402)	1,625)	1,976)
Asset Age Ratio (Years)
Time elapsed since purchase¹	16	16	16	14	13

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation of fixed assets
= 22,725 ÷ 1,445 = 16

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Schlumberger Ltd. estimated time elapsed since purchase of depreciable property, plant and equipment 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
Selected Financial Data (US$ in millions)
Fixed assets less accumulated depreciation	7,240)	6,607)	6,429)	6,826)	9,270)
Land	323)	326)	372)	362)	483)
Depreciation of fixed assets	1,445)	1,368)	1,402)	1,625)	1,976)
Asset Age Ratio (Years)
Estimated remaining life¹	5	5	4	4	4

2023 Calculations

¹ Estimated remaining life = (Fixed assets less accumulated depreciation – Land) ÷ Depreciation of fixed assets
= (7,240 – 323) ÷ 1,445 = 5

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Asset age ratio	Description	The company
Estimated remaining life		Schlumberger Ltd. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd. (NYSE:SLB)

Analysis of Property, Plant and Equipment