Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
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Schlumberger Ltd., consolidated cash flow statement
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).
- Net Income and Charges
- The company experienced a significant turnaround in net income over the period. In 2020, the net loss was substantial at -$10,486 million; however, from 2021 onwards, net income turned positive and showed steady growth, reaching $4,579 million by 2024. Charges and credits followed a somewhat inverse pattern, with a large charge in 2020 but fluctuating minor credits and charges in subsequent years, peaking at $541 million in 2024.
- Depreciation and Amortization
- Depreciation and amortization expenses remained relatively stable but displayed a gradual increase from $2,566 million in 2020 to $2,519 million in 2024, reflecting consistent asset utilization and amortization policies.
- Deferred Taxes
- Deferred taxes exhibited minor fluctuations around zero, with slightly negative values in most years but a minor positive amount in 2023. The relatively small and unstable deferred tax amounts suggest ongoing adjustments in tax timing differences but no major tax deferrals or reversals.
- Stock-Based Compensation and Equity Investments
- Stock-based compensation expense declined slightly over the years from $397 million in 2020 to around $316 million by 2024. Earnings from equity method investments were mostly negative, indicating losses except for a positive amount in 2021, suggesting challenges or volatility in associated investments.
- Working Capital Movements
- Receivables showed an initial increase in 2020 but large decreases in subsequent years indicating improved collections or reduced sales volume. Inventories decreased significantly after 2021, aligning with efforts to optimize stock levels. Changes in accounts payable and accrued liabilities reversed from a large decrease in 2020 to increases in the following years, signaling improved supplier financing or operational scaling, though 2024 saw a sharp reversal.
- Cash Flow from Operations and Investing
- Net cash provided by operating activities increased steadily from $2,944 million in 2020 to peak at approximately $6,637 million in 2023, stabilizing slightly lower in 2024. Capital expenditures grew steadily, indicating ongoing investments in fixed assets and exploration data, with a peak in 2023 and a slight decline afterward. Investing activities consistently used cash, with a growing net outflow reaching $3,145 million by 2024, partly due to increased business acquisitions and consistent APS investments.
- Financing Activities
- Net cash used in financing activities increased in magnitude, with substantial dividends paid, sharply rising from $699 million in 2021 to $1,533 million in 2024. Stock repurchases showed increased activity especially in 2023 and 2024, demonstrating a focus on returning value to shareholders. Debt repayment remained significant over time, although proceeds from new long-term debt slightly increased in the last two years, suggesting a balanced approach toward debt management.
- Liquidity and Cash Position
- Cash and cash equivalents showed an overall increasing trend, rising from $844 million at the end of 2020 to $3,544 million at the end of 2024, reflecting improved liquidity. Periodic net increases in cash were driven primarily by robust operating cash flows despite significant investing and financing cash outflows.
- Other Observations
- Adjustments to reconcile net income to cash from operations declined sharply after 2020 but stabilized at a positive level from 2022 onwards. Fluctuations in other current and non-current assets and liabilities were relatively minor but contributed to working capital dynamics. Impact of exchange rate changes on cash was minimal but negative overall, indicating slight foreign currency translation effects on cash holdings.