0000087347falsefalsefalseQ3false--12-31falseSLB LIMITED/NVP8http://fasb.org/us-gaap/2025#OtherAssetsCurrenthttp://fasb.org/us-gaap/2025#OtherAssetsCurrenthttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#InterestExpensehttp://fasb.org/us-gaap/2025#InterestExpensehttp://fasb.org/us-gaap/2025#InterestExpensehttp://fasb.org/us-gaap/2025#InterestExpensehttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#RevenueFromContractWithCustomerExcludingAssessedTaxhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSoldhttp://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSold0000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2025-01-012025-09-300000087347us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMembersrt:NorthAmericaMember2024-01-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandThirtyFourMember2025-09-300000087347slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2025-09-300000087347us-gaap:RetainedEarningsMember2024-09-300000087347us-gaap:ProductMember2025-01-012025-09-300000087347slb:DigitalIntegrationMember2024-01-012024-09-300000087347us-gaap:ServiceMember2024-01-012024-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2024-12-310000087347us-gaap:CommonStockMember2025-06-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-01-012025-09-300000087347us-gaap:MaterialReconcilingItemsMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:AllOtherMember2024-12-310000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2025-01-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMemberslb:OtherCountriesMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2024-01-012024-09-300000087347us-gaap:AllOtherSegmentsMember2024-01-012024-09-300000087347slb:ReservoirPerformanceMember2024-07-012024-09-300000087347slb:ChampionxCorporationMember2025-01-012025-07-310000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2024-07-012024-09-300000087347slb:ChampionxCorporationMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2025-07-012025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2024-07-012024-09-300000087347slb:WorkforceReductionsMemberslb:InterestAndOtherMember2025-04-012025-06-300000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2024-12-3100000873472024-07-012024-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-07-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2024-12-310000087347slb:SchlumbergerLimitedAndSubsidiariesMember2025-07-162025-07-160000087347slb:WellConstructionMember2024-01-012024-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-09-300000087347slb:ChampionxCorporationMember2025-08-012025-09-300000087347slb:AmortizationOfInventoryFairValueAdjustmentMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberus-gaap:MiddleEastMember2024-01-012024-09-300000087347slb:DigitalIntegrationMember2024-07-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347us-gaap:TradeNamesMember2024-12-310000087347slb:TwoPointZeroZeroPercentGuaranteedNotesDueTwoThousandThirtyTwoMemberus-gaap:CrossCurrencyInterestRateContractMember2020-12-310000087347slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember2024-12-310000087347slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember2024-01-012024-12-310000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2024-12-310000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2024-01-012024-09-300000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2020-12-310000087347slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2025-01-012025-09-300000087347slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember2024-12-310000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMemberslb:OtherCountriesMember2024-01-012024-09-300000087347slb:ReservoirPerformanceMember2025-01-012025-09-300000087347slb:SubseaBusinessMemberslb:AkerMember2025-04-012025-06-300000087347slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2025-07-012025-09-300000087347slb:ProductionSystemsMember2025-07-012025-09-3000000873472025-06-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2019-12-310000087347us-gaap:OperatingSegmentsMemberslb:EuropeAfricaMember2024-01-012024-09-300000087347us-gaap:ServiceMember2025-07-012025-09-300000087347slb:WorkforceReductionsMemberslb:InterestAndOtherMember2025-01-012025-03-310000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2025-07-012025-09-3000000873472025-01-012025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberus-gaap:AllOtherSegmentsMember2025-07-012025-09-300000087347us-gaap:NoncontrollingInterestMember2024-06-300000087347slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember2025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:WellConstructionMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2025-01-012025-09-300000087347slb:OnePointZeroZeroGuaranteedNotesDueTwoThousandTwentySixMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:AllOtherMember2025-09-300000087347slb:EliminationsOtherMember2024-07-012024-09-300000087347us-gaap:TreasuryStockCommonMember2024-06-300000087347us-gaap:AllOtherSegmentsMember2024-07-012024-09-300000087347us-gaap:TreasuryStockCommonMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:ProductMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMembersrt:NorthAmericaMember2024-01-012024-09-300000087347us-gaap:CreditDefaultSwapMember2025-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2025-09-300000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMemberslb:ChampionxCorporationMember2025-01-012025-09-300000087347us-gaap:EmployeeStockOptionMember2024-07-012024-09-300000087347us-gaap:RetainedEarningsMember2024-12-310000087347us-gaap:RetainedEarningsMember2025-06-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2024-01-012024-12-310000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberus-gaap:AllOtherSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:EliminationsOtherMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:EliminationsOtherMember2025-01-012025-09-3000000873472024-01-012024-09-300000087347us-gaap:OtherIntangibleAssetsMember2024-12-310000087347us-gaap:CommonStockMember2025-01-012025-09-300000087347slb:TwoPointZeroZeroPercentGuaranteedNotesDueTwoThousandThirtyTwoMember2020-12-310000087347us-gaap:CommercialPaperMember2024-12-310000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2025-09-300000087347us-gaap:EmployeeStockOptionMember2025-01-012025-09-3000000873472024-12-310000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CommodityContractMember2025-01-012025-09-300000087347us-gaap:EmployeeStockOptionMember2025-07-012025-09-300000087347slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2024-12-310000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-07-012025-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000087347us-gaap:CommonStockMember2024-06-300000087347slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember2024-12-310000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2025-01-012025-09-300000087347slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMembersrt:NorthAmericaMember2025-01-012025-09-300000087347slb:CommercialPaperProgramsMaturingFebruaryTwoZeroTwoEightMember2025-09-300000087347slb:ChampionxCorporationMember2025-07-162025-07-160000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentySevenMember2024-12-310000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-07-012024-09-300000087347slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2024-07-012024-09-300000087347us-gaap:RetainedEarningsMember2023-12-310000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMemberslb:OtherCountriesMember2024-07-012024-09-300000087347us-gaap:MaterialReconcilingItemsMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMembersrt:LatinAmericaMember2025-01-012025-09-300000087347us-gaap:ProductMember2024-07-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CrossCurrencyInterestRateContractMember2024-01-012024-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2024-01-012024-12-310000087347slb:ReservoirPerformanceMember2024-01-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandThirtyFourMember2024-12-310000087347us-gaap:CommonStockMember2024-12-310000087347us-gaap:ProductMember2025-07-012025-09-300000087347slb:WellConstructionMember2025-07-012025-09-300000087347us-gaap:CommonStockMember2024-09-300000087347slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:CrossCurrencyInterestRateContract1Member2024-07-012024-09-300000087347us-gaap:CommercialPaperMember2025-09-300000087347us-gaap:NonUsMemberslb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMembersrt:NorthAmericaMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:CrossCurrencyInterestRateContract1Member2025-01-012025-09-300000087347us-gaap:TechnologyBasedIntangibleAssetsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:EuropeAfricaMember2024-07-012024-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347slb:EliminationsOtherMember2025-01-012025-09-300000087347slb:InterestAndOtherMember2024-07-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2024-01-012024-09-300000087347us-gaap:CommonStockMember2025-07-012025-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2025-01-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-01-012024-09-300000087347us-gaap:AllOtherSegmentsMember2025-07-012025-09-300000087347slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember2024-01-012024-12-310000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentySevenMember2025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMemberslb:OtherCountriesMember2025-01-012025-09-300000087347slb:OnePointThreeSevenFivePercentGuaranteedNotesDueTwoThousandTwentySixMember2020-12-310000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:CrossCurrencyInterestRateContract1Member2024-01-012024-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2025-09-300000087347us-gaap:NoncontrollingInterestMember2023-12-310000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMemberslb:ChampionxCorporationMember2025-01-012025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2024-12-310000087347slb:EliminationsOtherMember2024-01-012024-09-300000087347slb:OnePointZeroZeroGuaranteedNotesDueTwoThousandTwentySixMember2024-12-310000087347slb:AcquisitionRelatedEmployeeBenefitsMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347slb:ChampionxCorporationMemberus-gaap:TradeNamesMember2025-07-160000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:WellConstructionMember2024-01-012024-09-300000087347us-gaap:AllOtherSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:WellConstructionMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:WellConstructionMember2024-01-012024-09-300000087347us-gaap:RetainedEarningsMember2024-06-300000087347slb:CommercialPaperProgramsMaturingDecemberTwoZeroTwoNineMember2025-09-300000087347slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember2024-12-310000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2024-04-012024-06-300000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2025-09-300000087347us-gaap:OperatingSegmentsMembersrt:LatinAmericaMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2024-07-012024-09-300000087347slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember2025-01-012025-09-300000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2024-01-012024-03-310000087347slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMembersrt:LatinAmericaMember2024-07-012024-09-300000087347slb:WellConstructionMember2024-07-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CrossCurrencyInterestRateContractMember2025-01-012025-09-300000087347us-gaap:CrossCurrencyInterestRateContractMember2024-12-310000087347slb:ProductionSystemsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMembersrt:NorthAmericaMember2024-07-012024-09-300000087347us-gaap:ServiceMember2025-01-012025-09-300000087347us-gaap:NoncontrollingInterestMember2025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:WellConstructionMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:ForeignExchangeContract1Member2024-01-012024-09-3000000873472025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CommodityContractMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberus-gaap:AllOtherSegmentsMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberus-gaap:AllOtherSegmentsMember2025-07-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-07-012025-09-300000087347us-gaap:CommonStockMember2025-09-300000087347us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2025-07-012025-09-300000087347us-gaap:CrossCurrencyInterestRateContractMemberslb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2019-12-310000087347us-gaap:TreasuryStockCommonMember2024-01-012024-09-300000087347slb:ProductionSystemsMember2024-07-012024-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2024-12-310000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMemberslb:ChampionxCorporationMember2025-01-012025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-07-012024-09-300000087347us-gaap:ForeignExchangeContractMember2025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:EliminationsOtherMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:AllOtherMember2025-01-012025-09-300000087347us-gaap:NoncontrollingInterestMember2024-09-300000087347us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2024-07-012024-09-300000087347slb:WorkforceReductionsMemberslb:InterestAndOtherMember2024-07-012024-09-300000087347us-gaap:TreasuryStockCommonMember2023-12-310000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:WellConstructionMember2025-07-012025-09-300000087347slb:InterestAndOtherMember2024-04-012024-06-300000087347slb:EuroDenominatedNotesMember2020-12-310000087347us-gaap:ForeignExchangeContractMember2024-12-3100000873472024-04-012024-06-300000087347slb:SubseaBusinessMember2024-01-012024-09-300000087347us-gaap:MaterialReconcilingItemsMember2024-12-310000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CommodityContractMember2024-07-012024-09-300000087347slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember2024-01-012024-12-310000087347slb:WorkforceReductionsMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMemberus-gaap:CrossCurrencyInterestRateContractMember2020-12-310000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2024-07-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentySevenMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:WellConstructionMember2025-07-012025-09-300000087347us-gaap:CrossCurrencyInterestRateContractMemberslb:OnePointThreeSevenFivePercentGuaranteedNotesDueTwoThousandTwentySixMember2020-12-310000087347slb:DigitalIntegrationMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMembersrt:LatinAmericaMember2025-07-012025-09-300000087347slb:DigitalIntegrationMember2025-01-012025-09-300000087347slb:ChampionxCorporationMember2025-07-150000087347slb:ImpairmentOfEquityMethodInvestmentMemberslb:InterestAndOtherMember2025-04-012025-06-300000087347us-gaap:MiddleEastMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2025-01-012025-09-300000087347slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-01-012025-09-300000087347slb:WellConstructionMember2025-01-012025-09-300000087347us-gaap:NoncontrollingInterestMember2024-12-310000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMembersrt:NorthAmericaMember2025-07-012025-09-300000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2024-12-310000087347slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember2024-12-310000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000087347us-gaap:NonUsMemberslb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandThirtyFourMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMemberslb:EuropeAfricaMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-01-012024-09-300000087347slb:ChampionxCorporationMember2025-07-160000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300000087347us-gaap:MaterialReconcilingItemsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberus-gaap:MiddleEastMember2025-07-012025-09-3000000873472025-07-162025-07-160000087347slb:ReservoirPerformanceMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2024-12-310000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-07-012025-09-300000087347slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember2025-09-300000087347us-gaap:TradeNamesMember2025-09-300000087347us-gaap:MaterialReconcilingItemsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-07-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:ForeignExchangeContract1Member2025-01-012025-09-300000087347us-gaap:TreasuryStockCommonMember2025-06-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2024-01-012024-09-3000000873472025-07-012025-09-300000087347us-gaap:CreditDefaultSwapMemberslb:ReductionOnMonthlyBasisOneMember2025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:ForeignExchangeContract1Member2025-07-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CommodityContractMember2025-07-012025-09-300000087347us-gaap:CreditDefaultSwapMemberslb:ReductionOnMonthlyBasisTwoMember2025-01-012025-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMemberus-gaap:CrossCurrencyInterestRateContractMember2019-12-310000087347us-gaap:DevelopedTechnologyRightsMember2025-09-300000087347us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2024-01-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2024-01-012024-09-300000087347us-gaap:RetainedEarningsMember2025-07-012025-09-300000087347us-gaap:NonUsMemberslb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347us-gaap:EmployeeStockOptionMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMembersrt:NorthAmericaMember2025-01-012025-09-300000087347us-gaap:CustomerRelationshipsMember2025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2025-07-012025-09-300000087347slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember2025-09-300000087347us-gaap:RetainedEarningsMember2024-07-012024-09-300000087347slb:ZeroPointFiveZeroPercentNotesDueTwoThousandThirtyOneMember2020-12-310000087347us-gaap:TreasuryStockCommonMember2024-07-012024-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMembersrt:NorthAmericaMember2025-01-012025-09-300000087347slb:EuroDenominatedGuaranteedNotesMember2020-12-310000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberus-gaap:AllOtherSegmentsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2025-01-012025-09-300000087347us-gaap:RetainedEarningsMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:ForeignExchangeContract1Member2024-07-012024-09-300000087347us-gaap:MaterialReconcilingItemsMember2025-09-300000087347slb:SubseaBusinessMemberslb:ChampionxCorporationMember2025-07-012025-09-300000087347slb:SubseaBusinessMember2025-07-012025-09-300000087347us-gaap:NoncontrollingInterestMember2025-07-012025-09-300000087347us-gaap:DevelopedTechnologyRightsMember2024-12-310000087347us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2024-07-012024-09-300000087347slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2024-01-012024-12-310000087347slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember2025-01-012025-09-300000087347us-gaap:NoncontrollingInterestMember2025-06-300000087347slb:ImpairmentOfEquityMethodInvestmentMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberslb:CrossCurrencyInterestRateContract1Member2025-07-012025-09-300000087347us-gaap:NoncontrollingInterestMember2025-01-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2024-01-012024-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-07-012025-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-07-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMember2024-07-012024-09-3000000873472024-06-300000087347slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2024-12-310000087347us-gaap:CreditDefaultSwapMemberslb:ReductionOnMonthlyBasisOneMember2025-01-012025-09-300000087347slb:O2025Q3DividendsMember2025-07-012025-09-300000087347us-gaap:NoncontrollingInterestMember2024-07-012024-09-300000087347us-gaap:CommonStockMember2024-01-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandThirtyFourMember2025-01-012025-09-300000087347slb:ChampionxCorporationMember2024-01-012024-12-310000087347us-gaap:TreasuryStockCommonMember2024-09-3000000873472024-09-300000087347slb:FivePointNineFivePercentNotesDueTwoThousandFortyOneMember2024-01-012024-12-310000087347slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember2025-01-012025-09-300000087347slb:ReservoirPerformanceMember2025-07-012025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2024-07-012024-09-3000000873472023-12-310000087347us-gaap:NonUsMemberslb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:OtherIntangibleAssetsMember2025-09-300000087347us-gaap:CommonStockMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMembersrt:NorthAmericaMember2024-07-012024-09-300000087347us-gaap:RetainedEarningsMember2025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2025-01-012025-09-300000087347slb:OnePointThreeSevenFivePercentNotesDueTwoThousandTwentySixMember2025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-07-012024-09-300000087347slb:AcquisitionRelatedProfessionalFeesMemberslb:InterestAndOtherMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-07-012025-09-300000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2025-04-012025-06-300000087347slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2025-01-012025-09-300000087347slb:WorkforceReductionsMemberslb:InterestAndOtherMember2024-04-012024-06-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2024-01-012024-09-300000087347slb:SubseaBusinessMemberslb:AkerMember2025-01-012025-03-310000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-07-012025-09-300000087347us-gaap:CrossCurrencyInterestRateContractMemberslb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2020-12-310000087347slb:GainOnSaleOfPalliserAPSProjectMemberslb:InterestAndOtherMember2025-04-012025-06-300000087347slb:ZeroPointTwoFivePercentNotesDueTwoThousandTwentySevenMember2019-12-310000087347slb:TwoPointZeroPercentNotesDueTwoThousandThirtyTwoMember2025-09-300000087347slb:OnePointZeroZeroGuaranteedNotesDueTwoThousandTwentySixMember2025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMembersrt:NorthAmericaMember2024-01-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2024-07-012024-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-09-300000087347slb:O2025M9DividendsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMembersrt:NorthAmericaMember2024-07-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2025-07-012025-09-300000087347us-gaap:TechnologyBasedIntangibleAssetsMemberslb:ChampionxCorporationMember2025-07-160000087347slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember2025-09-300000087347us-gaap:TreasuryStockCommonMember2024-12-310000087347us-gaap:CommonStockMember2023-12-310000087347slb:InterestAndOtherMember2024-01-012024-03-310000087347us-gaap:NonUsMemberslb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2025-07-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-01-012025-09-300000087347slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember2025-09-300000087347us-gaap:OperatingSegmentsMemberslb:ChampionxCorporationMemberslb:WellConstructionMember2025-01-012025-09-300000087347slb:ChampionxCorporationMemberus-gaap:CustomerRelationshipsMember2025-07-160000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-01-012025-09-300000087347us-gaap:CrossCurrencyInterestRateContractMember2025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMemberslb:OtherCountriesMember2025-01-012025-09-300000087347slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2025-09-3000000873472025-01-012025-03-310000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2024-07-012024-09-300000087347slb:TwoPointSixFivePercentSeniorNotesDueTwoThousandThirtyMember2024-12-310000087347us-gaap:NoncontrollingInterestMember2024-01-012024-09-300000087347slb:O2024M9DividendsMember2024-01-012024-09-300000087347slb:ProductionSystemsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:EuropeAfricaMember2025-01-012025-09-300000087347slb:ThreePointNineZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2024-01-012024-12-310000087347slb:FivePointOneThreePercentNotesDueTwoThousandFortyThreeMember2024-12-310000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMembersrt:NorthAmericaMember2025-07-012025-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2025-01-012025-09-300000087347slb:EliminationsOtherMember2025-07-012025-09-300000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310000087347us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300000087347us-gaap:CreditDefaultSwapMemberslb:ReductionOnMonthlyBasisTwoMember2025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2025-01-012025-09-300000087347us-gaap:CustomerRelationshipsMember2024-12-310000087347us-gaap:CustomerRelationshipsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:OtherCountriesMemberslb:EliminationsOtherMember2024-01-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347us-gaap:ServiceMember2024-07-012024-09-300000087347us-gaap:NonUsMemberslb:ProductionSystemsMemberus-gaap:OperatingSegmentsMember2024-07-012024-09-300000087347slb:O2024Q3DividendsMember2024-07-012024-09-300000087347us-gaap:TreasuryStockCommonMember2025-07-012025-09-300000087347slb:OnePointZeroZeroGuaranteedNotesDueTwoThousandTwentySixMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMemberus-gaap:MiddleEastMember2024-07-012024-09-300000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentySevenMember2025-01-012025-09-300000087347slb:ProductionSystemsMemberus-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-01-012024-09-300000087347slb:MergerAndIntegrationMemberslb:InterestAndOtherMember2025-01-012025-03-310000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:WellConstructionMember2024-07-012024-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2025-07-012025-09-300000087347slb:GuaranteedNotesOnePointZeroZeroPercentDueTwoThousandTwentySixMember2025-09-300000087347us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2024-01-012024-09-300000087347us-gaap:TreasuryStockCommonMember2025-09-300000087347slb:FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyEightMember2025-09-3000000873472025-04-012025-06-300000087347slb:FourPointEightFivePercentSeniorNotesDueTwoThousandThirtyThreeMember2024-01-012024-12-310000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMember2024-01-012024-09-300000087347us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2025-07-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:WellConstructionMember2024-07-012024-09-300000087347us-gaap:OperatingSegmentsMemberslb:EliminationsOtherMember2024-12-310000087347us-gaap:TradeNamesMember2025-01-012025-09-300000087347slb:ReservoirPerformanceMemberus-gaap:OperatingSegmentsMember2025-01-012025-09-300000087347us-gaap:OperatingSegmentsMemberslb:DigitalIntegrationMember2024-12-310000087347slb:FourPointThreeZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2024-01-012024-12-310000087347slb:FivePointZeroPercentSeniorNotesDueTwoThousandTwentyNineMember2025-09-300000087347us-gaap:RetainedEarningsMember2024-01-012024-09-300000087347us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberus-gaap:AllOtherSegmentsMember2025-01-012025-09-300000087347slb:SevenPointZeroZeroPercentNotesDueTwoThousandThirtyEightMember2024-12-31iso4217:EURiso4217:USDxbrli:sharesxbrli:purexbrli:sharesiso4217:USD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file No.: 1-4601

SLB N.V. (SLB Limited)

(Exact name of registrant as specified in its charter)


Curaçao		52-0684746
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

42 rue Saint-Dominique
Paris, France		75007

5599 San Felipe
Houston, Texas, United States of America		77056

62 Buckingham Gate
London, United Kingdom		SW1E 6AJ

Parkstraat 83
The Hague, The Netherlands		2514 JG
(Addresses of principal executive offices)		(Zip Codes)

Registrant’s telephone number in the United States, including area code, is: (713) 513-2000

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
common stock, par value $0.01 per share	SLB	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

     Class

     Outstanding at September 30, 2025

     COMMON STOCK, $0.01 PAR VALUE PER SHARE

     1,493,923,635

SLB Limited

Third Quarter 2025 Form 10-Q

Table of Contents


		Page
PART I	Financial Information

Item 1.	Financial Statements	3

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28

Item 4.	Controls and Procedures	28

PART II	Other Information

Item 1.	Legal Proceedings	29

Item 1A.	Risk Factors	29

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29

Item 3.	Defaults Upon Senior Securities	29

Item 4.	Mine Safety Disclosures	29

Item 5.	Other Information	29

Item 6.	Exhibits	30

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

SLB LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

(Unaudited)


(Stated in millions, except per share amounts)

	Third Quarter				Nine Months
	2025		2024		2025		2024
Revenue
Services	$	5,152	$	5,841	$	15,844	$	17,419
Product sales		3,776		3,318		10,119		9,586
Total Revenue		8,928		9,159		25,963		27,005
Interest & other income		78		96		408		265
Expenses
Cost of services		4,075		4,465		12,554		13,403
Cost of sales		3,295		2,772		8,631		8,103
Research & engineering		170		187		522		557
General & administrative		72		90		256		305
Restructuring & other		109		65		402		176
Merger & integration		143		33		226		60
Interest		142		136		432		381
Income before taxes		1,000		1,507		3,348		4,285
Tax expense		226		289		697		824
Net income		774		1,218		2,651		3,461
Net income attributable to noncontrolling interests		35		32		101		95
Net income attributable to SLB	$	739	$	1,186	$	2,550	$	3,366

Basic income per share of SLB	$	0.50	$	0.84	$	1.83	$	2.36

Diluted income per share of SLB	$	0.50	$	0.83	$	1.80	$	2.34
Average shares outstanding:
Basic		1,471		1,417		1,396		1,425
Assuming dilution		1,488		1,432		1,414		1,441

See Notes to Consolidated Financial Statements

SLB LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Unaudited)


(Stated in millions)

	Third Quarter						Nine Months
	2025			2024			2025			2024
Net income	$	774		$	1,218		$	2,651		$	3,461
Currency translation adjustments
Unrealized net change arising during the period		(43	)		(42	)		183			11
Cash flow hedges
Net loss on cash flow hedges		(28	)		(5	)		(67	)		(48	)
Reclassification to net income of net realized loss (gain)		(8	)		(2	)		(8	)		3
Pension and other postretirement benefit plans
Amortization to net income of net actuarial (gain) loss		9			(1	)		25			(2	)
Amortization to net income of net prior service credit		(3	)		(6	)		(9	)		(17	)
Income taxes on pension and other postretirement benefit plans		-			1			(1	)		4
Other		3			12			14			13
Comprehensive income		704			1,175			2,788			3,425
Comprehensive income attributable to noncontrolling interests		35			32			101			95
Comprehensive income attributable to SLB	$	669		$	1,143		$	2,687		$	3,330

See Notes to Consolidated Financial Statements

SLB LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET


(Stated in millions)

	Sept. 30,
	2025			Dec. 31,
	(Unaudited)			2024
ASSETS
Current Assets
Cash	$	3,014		$	3,544
Short-term investments		571			1,125
Receivables less allowance for doubtful accounts (2025 - $341; 2024 - $325)		9,101			8,011
Inventories		5,321			4,375
Other current assets		1,461			1,515
		19,468			18,570
Investments in Affiliated Companies		1,691			1,635
Fixed Assets less accumulated depreciation		7,999			7,359
Goodwill		17,007			14,593
Intangible Assets		5,089			3,012
Other Assets		3,839			3,766
	$	55,093		$	48,935
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued liabilities	$	10,857		$	10,375
Estimated liability for taxes on income		814			982
Short-term borrowings and current portion of long-term debt		1,923			1,051
Dividends payable		443			403
		14,037			12,811
Long-term Debt		10,843			11,023
Postretirement Benefits		502			512
Deferred Taxes		827			67
Other Liabilities		1,962			2,172
		28,171			26,585
Equity
Common stock		16,338			11,458
Treasury stock		(3,636	)		(1,773	)
Retained earnings		17,746			16,395
Accumulated other comprehensive loss		(4,813	)		(4,950	)
SLB stockholders’ equity		25,635			21,130
Noncontrolling interests		1,287			1,220
		26,922			22,350
	$	55,093		$	48,935

See Notes to Consolidated Financial Statements

SLB LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)


(Stated in millions)

	Nine Months Ended September 30,
	2025			2024
Cash flows from operating activities:
Net income	$	2,651		$	3,461
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (1)		1,911			1,871
Gain on sale of APS project		(149	)		-
Impairment of equity method investment		121			-
Deferred taxes		(89	)		32
Stock-based compensation expense		257			244
Earnings of equity method investments, less dividends received		(59	)		(9	)
Change in assets and liabilities: (2)
Increase in receivables		(528	)		(396	)
Increase in inventories		(249	)		(243	)
Decrease in other current assets		87			23
Increase in other assets		(39	)		(3	)
Decrease in accounts payable and accrued liabilities		(381	)		(732	)
Decrease in estimated liability for taxes on income		(202	)		(147	)
Increase in other liabilities		40			39
Other		113			72
NET CASH PROVIDED BY OPERATING ACTIVITIES		3,484			4,212
Cash flows from investing activities:
Capital expenditures		(1,178	)		(1,322	)
APS investments		(312	)		(390	)
Exploration data costs capitalized		(168	)		(141	)
Cash acquired in ChampionX Corporation acquisition		479			-
Proceeds from sale of APS project		338			-
Proceeds from sale of ChampionX Drilling Technologies business		286			-
Other business acquisitions and investments, net of cash acquired		(144	)		(552	)
Sales (purchase) of short-term investments, net		572			(268	)
Purchase of Blue Chip Swap securities		(167	)		(136	)
Proceeds from sale of Blue Chip securities		144			92
Other		8			49
NET CASH USED IN INVESTING ACTIVITIES		(142	)		(2,668	)
Cash flows from financing activities:
Dividends paid		(1,176	)		(1,144	)
Proceeds from employee stock purchase plan		222			219
Proceeds from exercise of stock options		8			25
Taxes paid on net settled stock-based compensation awards		(61	)		(86	)
Stock repurchase program		(2,414	)		(1,236	)
Proceeds from issuance of long-term debt		660			1,475
Repayment of long-term debt		(1,112	)		(416	)
Net increase (decrease) in short-term borrowings		17			(142	)
Other		(65	)		(36	)
NET CASH USED IN FINANCING ACTIVITIES		(3,921	)		(1,341	)
Net (decrease) increase in cash before translation effect		(579	)		203
Translation effect on cash		49			(17	)
Cash, beginning of period		3,544			2,900
Cash, end of period	$	3,014		$	3,086

(1)

Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and Asset Performance Solutions ("APS") investments.

(2)

Net of the effect of business acquisitions and divestitures.

See Notes to Consolidated Financial Statements

SLB LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

(Unaudited)


	(Stated in millions, except per share amounts)

										Accumulated
										Other
	Common Stock						Retained			Comprehensive			Noncontrolling
January 1, 2025 – September 30, 2025	Issued			In Treasury			Earnings			Loss			Interests			Total
Balance, January 1, 2025	$	11,458		$	(1,773	)	$	16,395		$	(4,950	)	$	1,220		$	22,350
Net income								2,550						101			2,651
Currency translation adjustments											183						183
Changes in fair value of cash flow hedges											(75	)					(75	)
Pension and other postretirement benefit plans											15						15
Shares sold to optionees, less shares exchanged		(9	)		17												8
Vesting of restricted stock, net of taxes withheld		(267	)		206												(61	)
Employee stock purchase plan		(99	)		321												222
Stock repurchase program					(2,414	)											(2,414	)
Stock-based compensation expense		257															257
Dividends declared ($0.855 per share)								(1,199	)								(1,199	)
Dividends paid to noncontrolling interests														(65	)		(65	)
Acquisition of ChampionX Corporation		5,005												19			5,024
Other		(7	)		7						14			12			26
Balance, September 30, 2025	$	16,338		$	(3,636	)	$	17,746		$	(4,813	)	$	1,287		$	26,922



										Accumulated
										Other
	Common Stock						Retained			Comprehensive			Noncontrolling
January 1, 2024 – September 30, 2024	Issued			In Treasury			Earnings			Loss			Interests			Total
Balance, January 1, 2024	$	11,624		$	(678	)	$	13,497		$	(4,254	)	$	1,170		$	21,359
Net income								3,366						95			3,461
Currency translation adjustments											11						11
Changes in fair value of cash flow hedges											(45	)					(45	)
Pension and other postretirement benefit plans											(15	)					(15	)
Shares sold to optionees, less shares exchanged		(9	)		34												25
Vesting of restricted stock, net of taxes withheld		(386	)		300												(86	)
Employee stock purchase plan		(65	)		284												219
Stock repurchase program					(1,236	)											(1,236	)
Stock-based compensation expense		244															244
Dividends declared ($0.825 per share)								(1,176	)								(1,176	)
Dividends paid to noncontrolling interests														(36	)		(36	)
Other					2						13			(12	)		3
Balance, September 30, 2024	$	11,408		$	(1,294	)	$	15,687		$	(4,290	)	$	1,217		$	22,728



										Accumulated
										Other
	Common Stock						Retained			Comprehensive			Noncontrolling
July 1, 2025 – September 30, 2025	Issued			In Treasury			Earnings			Loss			Interests			Total
Balance, July 1, 2025	$	11,354		$	(3,742	)	$	17,433		$	(4,743	)	$	1,249		$	21,551
Net income								739						35			774
Currency translation adjustments											(43	)					(43	)
Changes in fair value of cash flow hedges											(36	)					(36	)
Pension and other postretirement benefit plans											6						6
Shares sold to optionees, less shares exchanged		(7	)		7												-
Vesting of restricted stock, net of taxes withheld		(41	)		35												(6	)
Employee stock purchase plan		(55	)		172												117
Stock repurchase program					(114	)											(114	)
Stock-based compensation expense		89															89
Dividends declared ($0.285 per share)								(426	)								(426	)
Dividends paid to noncontrolling interests														(22	)		(22	)
Acquisition of ChampionX Corporation		5,005												19			5,024
Other		(7	)		6						3			6			8
Balance, September 30, 2025	$	16,338		$	(3,636	)	$	17,746		$	(4,813	)	$	1,287		$	26,922


	(Stated in millions, except per share amounts)

										Accumulated
										Other
	Common Stock						Retained			Comprehensive			Noncontrolling
July 1, 2024 – September 30, 2024	Issued			In Treasury			Earnings			Loss			Interests			Total
Balance, July 1, 2024	$	11,401		$	(973	)	$	14,890		$	(4,247	)	$	1,209		$	22,280
Net income								1,186						32			1,218
Currency translation adjustments											(42	)					(42	)
Changes in fair value of cash flow hedges											(7	)					(7	)
Pension and other postretirement benefit plans											(6	)					(6	)
Shares sold to optionees, less shares exchanged					5												5
Vesting of restricted stock, net of taxes withheld		(35	)		27												(8	)
Employee stock purchase plan		(29	)		148												119
Stock repurchase program					(501	)											(501	)
Stock-based compensation expense		71															71
Dividends declared ($0.275 per share)								(389	)								(389	)
Dividends paid to noncontrolling interests														(24	)		(24	)
Other											12						12
Balance, September 30, 2024	$	11,408		$	(1,294	)	$	15,687		$	(4,290	)	$	1,217		$	22,728

SHARES OF COMMON STOCK

(Unaudited)


			(Stated in millions)

						Shares
	Issued		In Treasury			Outstanding
Balance, January 1, 2025		1,439		(38	)		1,401
Shares sold to optionees, less shares exchanged		-		1			1
Vesting of restricted stock		-		4			4
Shares issued under employee stock purchase plan		-		7			7
Stock repurchase program		-		(60	)		(60	)
Acquisition of ChampionX Corporation		141		-			141
Balance, September 30, 2025		1,580		(86	)		1,494

See Notes to Consolidated Financial Statements

SLB LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. Basis of Presentation

The accompanying unaudited consolidated financial statements of SLB Limited and its subsidiaries (“SLB”) have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of SLB management, all adjustments considered necessary for a fair statement have been included in the accompanying unaudited financial statements. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the three-month period ended September 30, 2025 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2025. The December 31, 2024 balance sheet information has been derived from the SLB 2024 audited financial statements. For further information, refer to the Consolidated Financial Statements and notes thereto included in the SLB Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on January 22, 2025.

2. Charges and Credits

2025

Third quarter 2025:

In connection with the acquisition of ChampionX Corporation ("ChampionX") (see Note 4), SLB recorded charges of $66 million relating to the amortization of purchase accounting adjustments associated with the write-up of acquired inventory to its estimated fair value; $61 million of transaction costs, including advisory and legal fees; and $54 million relating to employee benefits for change-in-control arrangements, accelerated stock-based compensation and retention. In addition, SLB recorded $28 million of other merger and integration costs associated with the acquisition of ChampionX and the October 2023 acquisition of the Aker Solutions subsea business. $143 million of these costs are classified in Merger & integration with the remaining $66 million classified in Cost of sales in the Consolidated Statement of Income.

During the third quarter of 2025, SLB recorded a charge of $57 million relating to workforce reductions to align its resources with activity levels. This charge is classified in Restructuring & other in the Consolidated Statement of Income. SLB may record additional charges related to workforce reductions in 2025 as it continues to align its resources with activity levels.

During the third quarter of 2025, SLB recorded a $52 million impairment charge relating to an equity method investment that was determined to be other-than-temporarily impaired. This charge is classified in Restructuring & other in the Consolidated Statement of Income.

Second quarter 2025:

During the second quarter of 2025, SLB recorded a $69 million impairment charge relating to an equity method investment that was determined to be other-than-temporarily impaired. This charge is classified in Restructuring & other in the Consolidated Statement of Income.

During the second quarter of 2025, SLB recorded a charge of $66 million relating to workforce reductions to align its resources with activity levels. This charge is classified in Restructuring & other in the Consolidated Statement of Income.

During the second quarter of 2025, SLB recorded $35 million of charges in connection with the acquisition of ChampionX and the October 2023 acquisition of Aker solutions subsea business. These costs are classified in Merger & integration in the Consolidated Statement of Income.

During the second quarter of 2025, SLB completed the sale of its interest in the Palliser APS project in Canada in exchange for net cash proceeds of $338 million, of which $22 million were received in the third quarter of 2025. SLB recorded a gain of $149 million as a result of this transaction. This gain is classified in Interest & other income in the Consolidated Statement of Income.

First quarter 2025:

During the first quarter of 2025, SLB recorded a $158 million charge relating to workforce reductions to realign and optimize its support and service delivery structure. This charge is classified in Restructuring & other in the Consolidated Statement of Income.

During the first quarter of 2025, SLB recorded $49 million of charges in connection with the acquisition of ChampionX and the October 2023 acquisition of the Aker Solutions subsea business. These costs are classified in Merger & integration in the Consolidated Statement of Income.


	(Stated in millions)

	Pretax Charge			Tax Benefit			Noncontrolling
	(Credit)			(Expense)			Interests		Net
First quarter:
Workforce reductions	$	158		$	10		$	-	$	148
Merger and integration		49			1			4		44
Second quarter:										-
Impairment of equity method investment		69			12			-		57
Workforce reductions		66			3			-		63
Other merger and integration		35			4			4		27
Gain on sale of Palliser APS project		(149	)		(4	)		-		(145	)
Third quarter:
Amortization of inventory fair value adjustment		66			15			-		51
Acquisition-related professional fees		61			-			-		61
Workforce reductions		57			4			-		53
Acquisition-related employee benefits		54			2			-		52
Impairment of equity-method investment		52			4			-		48
Other merger and integration		28			2			4		22
	$	546		$	53		$	12	$	481

2024

During the second and third quarters of 2024, SLB recorded charges of $111 million and $65 million, respectively, related to workforce reductions to realign and optimize its support and service delivery structure. These charges are classified in Restructuring & other in the Consolidated Statement of Income.

During the first nine months of 2024, SLB recorded $103 million of charges in connection with the October 2023 acquisition of the Aker Solutions subsea business and the ChampionX transaction consisting of $43 million relating to the amortization of purchase accounting adjustments associated with the write-up of acquired inventory to its estimated fair value, which is classified in Cost of sales in the Consolidated Statement of Income, and $60 million of other merger and integration-related costs that are classified in Merger & integration.


	(Stated in millions)

					Noncontrolling
	Pretax Charge		Tax Benefit		Interests		Net
First quarter:
Amortization of inventory fair value adjustment	$	14	$	4	$	3	$

SLB LIMITED/NV 10-Q