SLB LIMITED/NV Segments Disclosure
16. Segment Information
SLB is primarily organized under four Divisions that combine and integrate SLB’s technologies, enhancing the Company’s ability to support the emerging long-term growth opportunities in each of these market segments.
SLB previously reported its results on the basis of four Divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. Commencing the third quarter of 2025, SLB's Digital business is reported as a separate Division. Additionally, SLB's Asset Performance Solutions ("APS"), Data Center Solutions and SLB Capturi businesses are now reported in the All Other category. The acquired ChampionX businesses are predominantly reported in SLB's Production Systems Division, with the exception of its digital business, which is reported in SLB's Digital Division. Prior periods have been recast to conform to the current presentation.
SLB’s segments, are:
Financial information by segment is as follows:
|
|
|
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2025 |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|||||
|
|
|
|
Pretax |
|
|
|
|
|
and |
|
|
Capital |
|
|||||
|
Revenue |
|
|
Income |
|
|
Assets |
|
|
Amortization |
|
|
Investments |
|
|||||
Digital |
$ |
2,660 |
|
|
$ |
745 |
|
|
$ |
925 |
|
|
$ |
183 |
|
|
$ |
257 |
|
Reservoir Performance |
|
6,820 |
|
|
|
1,250 |
|
|
|
3,947 |
|
|
|
435 |
|
|
|
467 |
|
Well Construction |
|
11,856 |
|
|
|
2,248 |
|
|
|
6,167 |
|
|
|
672 |
|
|
|
514 |
|
Production Systems |
|
13,325 |
|
|
|
2,184 |
|
|
|
9,373 |
|
|
|
463 |
|
|
|
466 |
|
All other |
|
1,987 |
|
|
|
498 |
|
|
|
2,249 |
|
|
|
375 |
|
|
|
441 |
|
Eliminations & other |
|
(940 |
) |
|
|
(351 |
) |
|
|
1,033 |
|
|
|
288 |
|
|
|
229 |
|
Goodwill and intangible assets |
|
|
|
|
|
|
|
21,783 |
|
|
|
|
|
|
|
||||
Cash and short-term investments |
|
|
|
|
|
|
|
4,212 |
|
|
|
|
|
|
|
||||
All other assets |
|
|
|
|
|
|
|
5,179 |
|
|
|
|
|
|
|
||||
Corporate & other (1) |
|
|
|
|
(759 |
) |
|
|
|
|
|
227 |
|
|
|
|
|||
Interest income (2) |
|
|
|
|
134 |
|
|
|
|
|
|
|
|
|
|
||||
Interest expense (3) |
|
|
|
|
(551 |
) |
|
|
|
|
|
|
|
|
|
||||
Charges & credits (4) |
|
|
|
|
(1,107 |
) |
|
|
|
|
|
|
|
|
|
||||
|
$ |
35,708 |
|
|
$ |
4,291 |
|
|
$ |
54,868 |
|
|
$ |
2,643 |
|
|
$ |
2,374 |
|
|
|
|
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2024 |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|||||
|
|
|
|
Pretax |
|
|
|
|
|
and |
|
|
Capital |
|
|||||
|
Revenue |
|
|
Income |
|
|
Assets |
|
|
Amortization |
|
|
Investments |
|
|||||
Digital |
$ |
2,439 |
|
|
$ |
612 |
|
|
$ |
768 |
|
|
$ |
173 |
|
|
$ |
199 |
|
Reservoir Performance |
|
7,177 |
|
|
|
1,452 |
|
|
|
3,802 |
|
|
|
404 |
|
|
|
624 |
|
Well Construction |
|
13,357 |
|
|
|
2,826 |
|
|
|
6,740 |
|
|
|
649 |
|
|
|
745 |
|
Production Systems |
|
11,935 |
|
|
|
1,900 |
|
|
|
7,049 |
|
|
|
347 |
|
|
|
406 |
|
All Other |
|
2,117 |
|
|
|
775 |
|
|
|
2,512 |
|
|
|
482 |
|
|
|
503 |
|
Eliminations & other |
|
(736 |
) |
|
|
(244 |
) |
|
|
1,152 |
|
|
|
287 |
|
|
|
135 |
|
Goodwill and intangible assets |
|
|
|
|
|
|
|
17,605 |
|
|
|
|
|
|
|
||||
Cash and short-term investments |
|
|
|
|
|
|
|
4,669 |
|
|
|
|
|
|
|
||||
All other assets |
|
|
|
|
|
|
|
4,638 |
|
|
|
|
|
|
|
||||
Corporate & other (1) |
|
|
|
|
(744 |
) |
|
|
|
|
|
177 |
|
|
|
|
|||
Interest income (2) |
|
|
|
|
134 |
|
|
|
|
|
|
|
|
|
|
||||
Interest expense (3) |
|
|
|
|
(498 |
) |
|
|
|
|
|
|
|
|
|
||||
Charges & credits (4) |
|
|
|
|
(541 |
) |
|
|
|
|
|
|
|
|
|
||||
|
$ |
36,289 |
|
|
$ |
5,672 |
|
|
$ |
48,935 |
|
|
$ |
2,519 |
|
|
$ |
2,612 |
|
|
|
|
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2023 |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|||||
|
|
|
|
Pretax |
|
|
|
|
|
and |
|
|
Capital |
|
|||||
|
Revenue |
|
|
Income |
|
|
Assets |
|
|
Amortization |
|
|
Investments |
|
|||||
Digital |
$ |
2,034 |
|
|
$ |
366 |
|
|
$ |
652 |
|
|
$ |
167 |
|
|
$ |
162 |
|
Reservoir Performance |
|
6,561 |
|
|
|
1,263 |
|
|
|
3,483 |
|
|
|
387 |
|
|
|
514 |
|
Well Construction |
|
13,478 |
|
|
|
2,932 |
|
|
|
7,126 |
|
|
|
587 |
|
|
|
908 |
|
Production Systems |
|
9,831 |
|
|
|
1,245 |
|
|
|
6,634 |
|
|
|
325 |
|
|
|
384 |
|
All Other |
|
1,844 |
|
|
|
892 |
|
|
|
2,455 |
|
|
|
411 |
|
|
|
513 |
|
Eliminations & other |
|
(613 |
) |
|
|
(175 |
) |
|
|
1,351 |
|
|
|
277 |
|
|
|
118 |
|
Goodwill and intangible assets |
|
|
|
|
|
|
|
17,323 |
|
|
|
|
|
|
|
||||
Cash and short-term investments |
|
|
|
|
|
|
|
3,989 |
|
|
|
|
|
|
|
||||
All other assets |
|
|
|
|
|
|
|
4,944 |
|
|
|
|
|
|
|
||||
Corporate & other (1) |
|
|
|
|
(729 |
) |
|
|
|
|
|
158 |
|
|
|
|
|||
Interest income (2) |
|
|
|
|
87 |
|
|
|
|
|
|
|
|
|
|
||||
Interest expense (3) |
|
|
|
|
(489 |
) |
|
|
|
|
|
|
|
|
|
||||
Charges & credits (4) |
|
|
|
|
(110 |
) |
|
|
|
|
|
|
|
|
|
||||
|
$ |
33,135 |
|
|
$ |
5,282 |
|
|
$ |
47,957 |
|
|
$ |
2,312 |
|
|
$ |
2,599 |
|
Segment assets consist of receivables, inventories, fixed assets, exploration data, and APS investments.
Capital investments includes capital expenditures, APS investments, and exploration data cost capitalized.
Depreciation and amortization includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.
Revenue from Digital Operations of $464 million, $290 million, and $186 million in 2025, 2024 and 2023, respectively, is reflected in the Digital Division. Revenue from this solution is generated from the same customer base as SLB's Core divisions of Well Construction, Reservoir Performance and Production Systems. In order to incentivize the Core divisions and Digital to develop and promote digital operations, the resulting revenue and profitability is recognized in both the respective Core division as well as in the Digital Division. This effect is eliminated in consolidation.
Revenue by geographic area for the years ended December 31, 2025, 2024, and 2023 was as follows:
(Stated in millions) |
|
||||||||||
|
|
|
|
|
|
|
|
|
|||
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
North America |
$ |
7,515 |
|
|
$ |
6,680 |
|
|
$ |
6,727 |
|
Latin America |
|
6,152 |
|
|
|
6,719 |
|
|
|
6,645 |
|
Europe & Africa * |
|
9,572 |
|
|
|
9,671 |
|
|
|
8,524 |
|
Middle East & Asia |
|
12,218 |
|
|
|
13,026 |
|
|
|
11,019 |
|
Eliminations & other |
|
251 |
|
|
|
193 |
|
|
|
220 |
|
|
$ |
35,708 |
|
|
$ |
36,289 |
|
|
$ |
33,135 |
|
* Includes Russia and the Caspian region
Revenue is based on the location where services are provided and products are sold.
SLB did not have revenue from third-party customers in its country of domicile during the last three years. Revenue in the United States in 2025, 2024, and 2023 was $6.3 billion, $5.3 billion, and $5.4 billion, respectively.
North America and International revenue disaggregated by segment was as follows:
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2025 |
|
|||||||||||||
|
North America |
|
|
International |
|
|
Other |
|
|
Total |
|
||||
Digital |
$ |
682 |
|
|
$ |
1,970 |
|
|
$ |
8 |
|
|
$ |
2,660 |
|
Reservoir Performance |
|
579 |
|
|
|
6,230 |
|
|
|
11 |
|
|
|
6,820 |
|
Well Construction |
|
2,137 |
|
|
|
9,475 |
|
|
|
244 |
|
|
|
11,856 |
|
Production Systems |
|
3,564 |
|
|
|
9,703 |
|
|
|
58 |
|
|
|
13,325 |
|
All Other |
|
682 |
|
|
|
1,306 |
|
|
|
(1 |
) |
|
|
1,987 |
|
Eliminations & other |
|
(129 |
) |
|
|
(742 |
) |
|
|
(69 |
) |
|
|
(940 |
) |
|
$ |
7,515 |
|
|
$ |
27,942 |
|
|
$ |
251 |
|
|
$ |
35,708 |
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2024 |
|
|||||||||||||
|
North America |
|
|
International |
|
|
Other |
|
|
Total |
|
||||
Digital |
$ |
613 |
|
|
$ |
1,821 |
|
|
$ |
5 |
|
|
$ |
2,439 |
|
Reservoir Performance |
|
548 |
|
|
|
6,622 |
|
|
|
7 |
|
|
|
7,177 |
|
Well Construction |
|
2,359 |
|
|
|
10,776 |
|
|
|
222 |
|
|
|
13,357 |
|
Production Systems |
|
2,516 |
|
|
|
9,386 |
|
|
|
33 |
|
|
|
11,935 |
|
All Other |
|
716 |
|
|
|
1,401 |
|
|
|
- |
|
|
|
2,117 |
|
Eliminations & other |
|
(72 |
) |
|
|
(590 |
) |
|
|
(74 |
) |
|
|
(736 |
) |
|
$ |
6,680 |
|
|
$ |
29,416 |
|
|
$ |
193 |
|
|
$ |
36,289 |
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2023 |
|
|||||||||||||
|
North America |
|
|
International |
|
|
Other |
|
|
Total |
|
||||
Digital |
$ |
477 |
|
|
$ |
1,551 |
|
|
$ |
6 |
|
|
$ |
2,034 |
|
Reservoir Performance |
|
498 |
|
|
|
6,057 |
|
|
|
6 |
|
|
|
6,561 |
|
Well Construction |
|
2,709 |
|
|
|
10,530 |
|
|
|
239 |
|
|
|
13,478 |
|
Production Systems |
|
2,598 |
|
|
|
7,219 |
|
|
|
14 |
|
|
|
9,831 |
|
All Other |
|
513 |
|
|
|
1,331 |
|
|
|
- |
|
|
|
1,844 |
|
Eliminations & other |
|
(68 |
) |
|
|
(500 |
) |
|
|
(45 |
) |
|
|
(613 |
) |
|
$ |
6,727 |
|
|
$ |
26,188 |
|
|
$ |
220 |
|
|
$ |
33,135 |
|
Fixed Assets less accumulated depreciation by geographic area was as follows:
(Stated in millions) |
|
||||||||||
|
|
|
|
|
|
|
|
|
|||
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
North America |
$ |
2,020 |
|
|
$ |
1,805 |
|
|
$ |
1,728 |
|
Latin America |
|
1,338 |
|
|
|
1,044 |
|
|
|
1,079 |
|
Europe & Africa |
|
1,909 |
|
|
|
1,721 |
|
|
|
1,804 |
|
Middle East & Asia |
|
2,627 |
|
|
|
2,789 |
|
|
|
2,629 |
|
|
$ |
7,894 |
|
|
$ |
7,359 |
|
|
$ |
7,240 |
|
Significant segment expenses, which represents the difference between segment revenue and pretax segment income, consist of the following:
(Stated in millions) |
|||||||
|
|
|
|
|
|
|
|
|
2025 |
||||||
|
|
|
Reservoir |
|
Well |
|
Production |
|
Digital |
|
Performance |
|
Construction |
|
Systems |
Compensation |
$744 |
|
$1,593 |
|
$2,362 |
|
$1,370 |
Cost of products, materials, and supplies |
- |
|
1,183 |
|
3,211 |
|
7,874 |
Depreciation and amortization |
183 |
|
435 |
|
672 |
|
463 |
Allocations |
328 |
|
643 |
|
944 |
|
532 |
Other |
660 |
|
1,716 |
|
2,419 |
|
902 |
|
$1,915 |
|
$5,570 |
|
$9,608 |
|
$11,141 |
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2024 |
|
|||||||||||||
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
||||
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
||||
Compensation |
$ |
747 |
|
|
$ |
1,638 |
|
|
$ |
2,587 |
|
|
$ |
1,037 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
1,232 |
|
|
|
3,579 |
|
|
|
7,408 |
|
Depreciation and amortization |
|
173 |
|
|
|
404 |
|
|
|
649 |
|
|
|
347 |
|
Allocations |
|
314 |
|
|
|
668 |
|
|
|
1,011 |
|
|
|
529 |
|
Other |
|
593 |
|
|
|
1,783 |
|
|
|
2,705 |
|
|
|
714 |
|
|
$ |
1,827 |
|
|
$ |
5,725 |
|
|
$ |
10,531 |
|
|
$ |
10,035 |
|
(Stated in millions) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2023 |
|
|||||||||||||
|
|
|
|
Reservoir |
|
|
Well |
|
|
Production |
|
||||
|
Digital |
|
|
Performance |
|
|
Construction |
|
|
Systems |
|
||||
Compensation |
$ |
745 |
|
|
$ |
1,501 |
|
|
$ |
2,526 |
|
|
$ |
1,104 |
|
Cost of products, materials, and supplies |
|
- |
|
|
|
1,157 |
|
|
|
3,673 |
|
|
|
5,946 |
|
Depreciation and amortization |
|
167 |
|
|
|
387 |
|
|
|
587 |
|
|
|
325 |
|
Allocations |
|
309 |
|
|
|
605 |
|
|
|
943 |
|
|
|
492 |
|
Other |
|
447 |
|
|
|
1,648 |
|
|
|
2,817 |
|
|
|
719 |
|
|
$ |
1,668 |
|
|
$ |
5,298 |
|
|
$ |
10,546 |
|
|
$ |
8,586 |
|
Other segment expenses include transportation, mobilization, lease, occupancy, professional, and other costs.
SLB's chief operating decision maker is its Chief Executive Officer who uses pretax segment income to assess the performance of each segment.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jan 23, 2026 | Showing above |
| 2024 | Jan 22, 2025 | |
| 2023 | Jan 24, 2024 | |
| 2022 | Jan 25, 2023 | |
| 2021 | Jan 26, 2022 | |
| 2020 | Jan 27, 2021 | |
| 2019 | Jan 22, 2020 | |
| 2018 | Jan 23, 2019 | |
| 2017 | Jan 24, 2018 | |
| 2016 | Jan 25, 2017 | |
| 2015 | Jan 27, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.