2016 Q1 Form 10-Q Financial Statement

#000156459016016687 Filed on April 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $757.0M $10.25B
YoY Change -92.61% -8.82%
Cost Of Revenue $4.795B $7.978B
YoY Change -39.9% -8.77%
Gross Profit -$4.038B $2.270B
YoY Change -277.89% -8.5%
Gross Profit Margin -533.42% 22.15%
Selling, General & Admin $110.0M $119.0M
YoY Change -7.56% 12.26%
% of Gross Profit 5.24%
Research & Development $240.0M $267.0M
YoY Change -10.11% -5.99%
% of Gross Profit 11.76%
Depreciation & Amortization $967.0M $1.042B
YoY Change -7.2% 11.8%
% of Gross Profit 45.9%
Operating Expenses $350.0M $386.0M
YoY Change -9.33% 35.92%
Operating Profit $901.0M $1.993B
YoY Change -54.79% -9.29%
Interest Expense $133.0M -$151.0M
YoY Change -188.08% -246.6%
% of Operating Profit 14.76% -7.58%
Other Income/Expense, Net
YoY Change
Pretax Income $622.0M $1.294B
YoY Change -51.93% -37.7%
Income Tax $99.00M $306.0M
% Of Pretax Income 15.92% 23.65%
Net Earnings $501.0M $975.0M
YoY Change -48.62% -38.76%
Net Earnings / Revenue 66.18% 9.51%
Basic Earnings Per Share $0.40 $0.76
Diluted Earnings Per Share $0.40 $0.76
COMMON SHARES
Basic Shares Outstanding 1.254B 1.276B
Diluted Shares Outstanding 1.259B 1.285B

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.43B $7.221B
YoY Change 99.86% 2.02%
Cash & Equivalents $2.121B
Short-Term Investments $12.80B $5.100B
Other Short-Term Assets $1.066B $1.482B
YoY Change -28.07% -5.18%
Inventory $3.612B $4.666B
Prepaid Expenses
Receivables $8.382B $10.44B
Other Receivables $0.00 $0.00
Total Short-Term Assets $27.70B $23.39B
YoY Change 18.41% -7.73%
LONG-TERM ASSETS
Property, Plant & Equipment $13.26B $15.14B
YoY Change -12.4% 0.14%
Goodwill $15.65B
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.742B $3.708B
YoY Change 0.92% -1.51%
Other Assets $3.132B $3.087B
YoY Change 1.46% 37.57%
Total Long-Term Assets $41.44B $42.02B
YoY Change -1.37% 1.58%
TOTAL ASSETS
Total Short-Term Assets $27.70B $23.39B
Total Long-Term Assets $41.44B $42.02B
Total Assets $69.14B $65.41B
YoY Change 5.7% -1.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.692B $8.311B
YoY Change -19.48% 0.69%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $987.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $3.267B $3.828B
YoY Change -14.66% 509.55%
Total Short-Term Liabilities $12.88B $14.57B
YoY Change -11.61% 22.46%
LONG-TERM LIABILITIES
Long-Term Debt $17.23B $8.898B
YoY Change 93.67% -19.98%
Other Long-Term Liabilities $1.051B $2.712B
YoY Change -61.25% 136.44%
Total Long-Term Liabilities $18.28B $11.61B
YoY Change 57.48% 912.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.88B $14.57B
Total Long-Term Liabilities $18.28B $11.61B
Total Liabilities $33.48B $27.76B
YoY Change 20.62% 4.59%
SHAREHOLDERS EQUITY
Retained Earnings $40.75B
YoY Change
Common Stock $12.70B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.62B
YoY Change
Treasury Stock Shares
Shareholders Equity $35.36B $37.66B
YoY Change
Total Liabilities & Shareholders Equity $69.14B $65.41B
YoY Change 5.7% -1.96%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $501.0M $975.0M
YoY Change -48.62% -38.76%
Depreciation, Depletion And Amortization $967.0M $1.042B
YoY Change -7.2% 11.8%
Cash From Operating Activities $1.210B $1.770B
YoY Change -31.64% 8.26%
INVESTING ACTIVITIES
Capital Expenditures $549.0M $606.0M
YoY Change -9.41% -29.86%
Acquisitions
YoY Change
Other Investing Activities $26.00M $70.00M
YoY Change -62.86% 311.76%
Cash From Investing Activities -$3.513B -$1.237B
YoY Change 183.99% -430.75%
FINANCING ACTIVITIES
Cash Dividend Paid $629.0M $512.0M
YoY Change 22.85% 24.88%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $500.0M $1.144B
YoY Change -56.29% -27.32%
Cash From Financing Activities 1.587B -1.525B
YoY Change -204.07% -10.71%
NET CHANGE
Cash From Operating Activities 1.210B 1.770B
Cash From Investing Activities -3.513B -1.237B
Cash From Financing Activities 1.587B -1.525B
Net Change In Cash -716.0M -992.0M
YoY Change -27.82% -429.57%
FREE CASH FLOW
Cash From Operating Activities $1.210B $1.770B
Capital Expenditures $549.0M $606.0M
Free Cash Flow $661.0M $1.164B
YoY Change -43.21% 50.97%

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CY2016Q1 us-gaap Loss Contingency Disclosures
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<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">12.&nbsp;&nbsp; <font style="text-decoration:underline;">Contingencies</font> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Schlumberger and its subsidiaries are party to various legal proceedings from time to time.&nbsp;&nbsp;A liability is accrued when a loss is both probable and can be reasonably estimated. Management believes that the probability of a material loss with respect to any currently pending legal proceedings is remote.&nbsp;&nbsp;However, litigation is inherently uncertain and it is not possible to predict the ultimate disposition of any of these proceedings.&nbsp;&nbsp; </p></div>
CY2016Q1 slb Restructuring And Other Charges
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0
CY2015Q1 us-gaap Foreign Currency Exchange Rate Remeasurement1
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CY2015Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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32000000
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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16000000
CY2016Q1 us-gaap Inventory Raw Materials And Supplies
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2355000000
CY2015Q4 us-gaap Inventory Raw Materials And Supplies
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2300000000
CY2016Q1 us-gaap Foreign Currency Transactions Description
ForeignCurrencyTransactionsDescription
This change resulted in a reduction in the US dollar reported amount of local currency denominated revenues, expenses and, consequently, income before taxes and net income in Venezuela.
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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501000000
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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975000000
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501000000
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975000000
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CY2016Q1 us-gaap Inventory Work In Process
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155000000
CY2015Q4 us-gaap Inventory Work In Process
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178000000
CY2016Q1 us-gaap Inventory Finished Goods
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1102000000
CY2015Q4 us-gaap Inventory Finished Goods
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1278000000
CY2016Q1 us-gaap Property Plant And Equipment Gross
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37275000000
CY2015Q4 us-gaap Property Plant And Equipment Gross
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37120000000
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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24016000000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23705000000
CY2016Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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4000000
CY2015Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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4000000
CY2016Q1 us-gaap Depreciation
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682000000
CY2015Q1 us-gaap Depreciation
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827000000
CY2016Q1 slb Multiclient Seismic Data Capitalized In Period
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167000000
CY2016Q1 slb Multiclient Seismic Data Charged To Cost Of Goods Sold And Services
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85000000
CY2016Q1 us-gaap Goodwill Acquired During Period
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24000000
CY2016Q1 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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20000000
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6549000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1998000000
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6491000000
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1922000000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
89000000
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
88000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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287000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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372000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
364000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
351000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
330000000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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307000000
CY2015Q4 us-gaap Debt Instrument Fair Value
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14400000000
CY2016Q1 slb Fixed Rate Debt
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CY2016Q1 slb Variable Rate Debt
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CY2016Q1 us-gaap Marketable Securities
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CY2016Q1 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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-30000000
CY2016Q1 us-gaap Derivative Fair Value Of Derivative Asset
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17000000
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
25000000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-203000000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
165000000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
825000000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1129000000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
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266000000
CY2015Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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1418000000
CY2015Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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152000000
CY2016Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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173000000
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
176000000
CY2016Q1 us-gaap Deferred Tax Assets Inventory
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144000000
CY2015Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
159000000
CY2016Q1 us-gaap Deferred Tax Assets Other
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613000000
CY2015Q4 us-gaap Deferred Tax Assets Other
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454000000
CY2016Q1 us-gaap Deferred Tax Liabilities
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715000000
CY2015Q4 us-gaap Deferred Tax Liabilities
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867000000
CY2016Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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155000000
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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162000000
CY2016Q1 us-gaap Current Federal Tax Expense Benefit
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40000000
CY2015Q1 us-gaap Current Federal Tax Expense Benefit
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75000000
CY2016Q1 us-gaap Current State And Local Tax Expense Benefit
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CY2015Q1 us-gaap Current State And Local Tax Expense Benefit
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CY2016Q1 us-gaap Current Foreign Tax Expense Benefit
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217000000
CY2015Q1 us-gaap Current Foreign Tax Expense Benefit
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248000000
CY2016Q1 us-gaap Current Income Tax Expense Benefit
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258000000
CY2015Q1 us-gaap Current Income Tax Expense Benefit
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328000000
CY2016Q1 us-gaap Deferred Federal Income Tax Expense Benefit
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-116000000
CY2015Q1 us-gaap Deferred Federal Income Tax Expense Benefit
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-26000000
CY2016Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
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-7000000
CY2016Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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-35000000
CY2015Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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4000000
CY2016Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2015Q1 us-gaap Deferred Income Tax Expense Benefit
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-22000000
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0.35
CY2015Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2016Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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-0.01
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-0.16
CY2015Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.12
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-0.02
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.16
CY2015Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.24
CY2016Q1 us-gaap Operating Income Loss
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901000000
CY2015Q1 us-gaap Operating Income Loss
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1993000000
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CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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92000000
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CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Tax
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15000000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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-79000000
CY2015Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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