Adjustments to Financial Statements
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Schlumberger Ltd. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
- Aggregate Accruals
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Adjustments to Current Assets
Schlumberger Ltd., adjusted current assets
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
| Current assets | ||||||
| Adjustments | ||||||
| Add: Allowance for doubtful accounts | ||||||
| After Adjustment | ||||||
| Adjusted current assets | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
- Current Assets
-
The current assets exhibit a fluctuating yet overall increasing trend over the reviewed periods. Starting at 12,919 million USD at the end of 2020, there is a slight decline to 12,654 million USD by the end of 2021. Subsequently, the current assets increase significantly, reaching 15,003 million USD in 2022, and continue this upward trajectory to 17,718 million USD in 2023 and 18,570 million USD in 2024. This growth suggests an improvement in liquidity and possibly a strategic accumulation of assets.
- Adjusted Current Assets
-
The adjusted current assets mirror the pattern of the unadjusted current assets, starting at 13,220 million USD in 2020, slightly decreasing to 12,973 million USD in 2021, before increasing steadily to 15,343 million USD in 2022. The values further rise to 18,055 million USD in 2023 and 18,895 million USD in 2024. The adjusted figures remain consistently higher than the reported current assets, indicating that adjustments—potentially for more conservative or risk-assessed values—highlight a saldo that is relatively robust and growing over time.
- Overall Observations
-
Both data sets reflect a temporary dip in 2021, possibly indicative of market or operational challenges during that period. The strong recovery from 2022 onward points to effective management of short-term assets, improved operational efficiency, or favorable external conditions. The gap between current and adjusted current assets could signify reconciliation between reported and more prudently estimated liquidity indicators, with both showing positive momentum toward enhanced asset quality and liquidity position.
Adjustments to Total Assets
Schlumberger Ltd., adjusted total assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »
- Total Assets
- The total assets demonstrate a slightly fluctuating but overall upward trend over the five-year period. The value decreases marginally from 42,434 million US dollars in 2020 to 41,511 million in 2021, suggesting a modest contraction in asset base during that year. Subsequently, total assets recover and increase steadily to 43,135 million in 2022, followed by a more pronounced growth to 47,957 million in 2023. The upward momentum continues at a slower pace, reaching 48,935 million by the end of 2024. This pattern indicates a resilient asset base with some variability, possibly reflecting periodic investment cycles or asset revaluation events.
- Adjusted Total Assets
- The adjusted total assets follow a similar trajectory to total assets, consistently maintaining slightly higher values across all years. Starting at 42,735 million in 2020, the line shows the same initial decline in 2021 to 41,830 million, mirroring the total assets' movement. Following this, there is a consistent increase to 43,475 million in 2022, then a robust increase to 48,294 million in 2023, and finally reaching 49,260 million in 2024. The adjusted figures suggest the presence of certain asset adjustments or reclassifications that moderately elevate the asset base. The increasing trend from 2021 onwards reflects an expanding capacity or investment in assets, supporting growth or operational scaling.
- Summary of Trends
- Both total and adjusted total assets reflect initial contraction during 2021, potentially indicative of external pressures or strategic divestments. However, the subsequent years show recovery and expansion, with the most significant growth occurring between 2022 and 2023. This may indicate a period of intensified capital investment or asset acquisition. The consistent premium inherent in adjusted total assets over raw total assets suggests ongoing asset revaluation or accounting adjustments aimed at providing a more comprehensive asset valuation. Overall, the company's asset base appears to be growing over time, demonstrating resilience and positive momentum in capital structure.
Adjustments to Total Liabilities
Schlumberger Ltd., adjusted total liabilities
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Noncurrent deferred tax liabilities. See details »
- Total liabilities
-
The total liabilities exhibited a decreasing trend from 2020 to 2022, dropping from approximately 29,945 million US dollars in 2020 to 25,146 million US dollars in 2022. This decline suggests a period of liability reduction or repayment. However, from 2022 onward, the total liabilities slightly increased, reaching 26,598 million US dollars in 2023 and remaining relatively stable at 26,585 million US dollars in 2024.
- Adjusted total liabilities
-
The adjusted total liabilities closely mirror the pattern observed in total liabilities. Starting at around 29,926 million US dollars in 2020, there was a consistent decrease through 2022 down to 25,085 million US dollars. Similarly to total liabilities, the adjusted figures increased somewhat in 2023 to 26,458 million US dollars and then stabilized in 2024 at approximately 26,518 million US dollars.
- Overall trend analysis
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The financial data reveals a period of liability reduction over the first three years, possibly reflecting improvements in financial management or repayment strategies. The subsequent stabilization and slight increase in liabilities during the last two years may indicate changes in capital structure, new borrowings, or operational needs impacting the company’s financial obligations. The close alignment between total and adjusted total liabilities suggests consistency in the methodology of liability assessment or minimal adjustments between the two measurements over the observed periods.
Adjustments to Stockholders’ Equity
Schlumberger Ltd., adjusted total SLB stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Net deferred tax assets (liabilities). See details »
The financial data reveals a consistent upward trend in both the total stockholders' equity and the adjusted total equity over the five-year period ending in 2024. This indicates a strengthening capital base and potentially an increase in retained earnings or capital injections.
- Total SLB stockholders’ equity
- Beginning at approximately $12.1 billion in 2020, the stockholders' equity exhibits steady growth each year, reaching about $21.1 billion by the end of 2024. This represents a cumulative increase of nearly 75% over the five years, reflecting a robust enhancement in the company’s net assets attributable to shareholders.
- Adjusted total equity
- The adjusted total equity also demonstrates a similar positive trajectory, growing from $12.8 billion in 2020 to approximately $22.7 billion in 2024. The adjusted figures consistently exceed the total stockholders' equity values, suggesting additional adjustments such as revaluation reserves or other comprehensive income items not reflected in the basic equity measure.
Overall, the upward movement in both equity measures implies effective financial management and resiliency in maintaining capital strength. The consistency of growth year-over-year points towards sustained operational performance or strategic financial policies that contribute to enhancing shareholder value.
Adjustments to Capitalization Table
Schlumberger Ltd., adjusted capitalization table
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Operating lease liabilities (recognized in Accounts payable and accrued liabilities). See details »
3 Operating lease liabilities (recognized in Other Liabilities). See details »
4 Net deferred tax assets (liabilities). See details »
The financial data reveals several notable trends in the company's capital structure and debt management over the five-year period.
- Total reported debt
- There is a consistent decline in total reported debt from US$16,886 million in 2020 to US$12,074 million in 2024, indicating a strengthening debt position and possible deleveraging efforts.
- Total stockholders’ equity
- Stockholders’ equity shows a steady growth, rising from US$12,071 million in 2020 to US$21,130 million in 2024, reflecting enhanced retained earnings or capital infusions contributing to increased net worth.
- Total reported capital
- Total reported capital remains relatively stable around the US$29,000 million to US$33,000 million range, with a gradual increase over the years, emphasizing balanced growth in the combination of debt and equity financing.
- Adjusted total debt
- Adjusted total debt mirrors the decreasing trend seen in total reported debt, falling from US$17,897 million in 2020 to US$12,816 million by 2024, underscoring the company's commitment to lowering leverage on an adjusted basis.
- Adjusted total equity
- Adjusted total equity increases markedly from US$12,809 million in 2020 to US$22,742 million in 2024, a significant growth trajectory that suggests improvement in the company’s financial stability and resilience.
- Adjusted total capital
- Adjusted total capital shows a steady rise from US$30,706 million in 2020 to US$35,558 million in 2024. This growth highlights an overall expansion in the company’s capital resources and possibly increased investment capacity.
Overall, the data suggests the company has been actively reducing its debt levels while simultaneously increasing its equity base, leading to a stronger, more balanced capital structure. The steady growth in adjusted total capital indicates improving financial flexibility and potential for future growth initiatives.
Adjustments to Reported Income
Schlumberger Ltd., adjusted net income (loss) attributable to SLB
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Deferred income tax expense (benefit). See details »
The financial data reveals a notable transformation in profitability over the five-year period. Initially, there is a significant net loss attributable to the company, with a substantial negative net income recorded in 2020. This loss sharply reverses in the following years, transitioning to positive values from 2021 onward, with a consistent upward trajectory through 2024. Specifically, net income increases steadily each year after 2020, indicating a strengthening financial performance and operational recovery or growth.
Similarly, the adjusted net income mirrors this pattern, starting with a considerable negative figure in 2020, which suggests that non-recurring or one-time adjustments impacted profitability in that year. From 2021 onwards, adjusted net income remains positive and relatively stable, showing slight fluctuations but maintaining an overall upward trend until 2023, followed by a minor decrease in 2024. This suggests the company has managed to stabilize its core earnings performance following the challenging initial period.
- Net Income (Loss) Trend:
- - Severe loss in 2020, indicating a challenging financial year.
- - Substantial improvement in 2021, shifting to profitability.
- - Steady growth in net income from 2021 through 2024, reflecting improving operational effectiveness or favorable market conditions.
- Adjusted Net Income Trend:
- - Significant negative adjusted income in 2020, potentially related to extraordinary or non-recurring items impacting that year's earnings.
- - Positive adjusted income from 2021 onwards, demonstrating improved core profitability.
- - Relative stability with minor fluctuations in adjusted net income from 2021 to 2024, indicating consistent underlying financial performance.
Overall, the data illustrates the company's recovery from a period of substantial losses to achieving stable and increasing profitability. The improvements seen in both net income and adjusted net income suggest successful management actions or market recovery that have positively influenced earnings over the analyzed timeframe.