(Stated in millions)
Gain (Loss) Recognized in AOCL
2011
2010
2009
Foreign exchange contracts
$79
$(269)
$223
12. Stockholders’ Equity
Schlumberger is authorized to issue 4,500,000,000 shares of common stock, par value $0.01 per share, of which
1,333,775,406 and 1,361,171,428 shares were outstanding on December 31, 2011 and 2010, respectively. Schlumberger is
also authorized to issue 200,000,000 shares of preferred stock, par value $0.01 per share, which may be issued in series
with terms and conditions determined by the Board of Directors. No shares of preferred stock have been issued.
Holders of common stock are entitled to one vote for each share of stock held.
Accumulated Other Comprehensive Loss
consists of the following:
(Stated in millions)
2011 2010 2009
Currency translation adjustments
$ (993)
$ (912) $ (886)
Fair value of derivatives
(26)
45
40
Pension and other postretirement benefit plans
(2,538)
(1,901) (1,828)
$(3,557)
$(2,768) $(2,674)
13. Stock Compensation Plans
Schlumberger has three types of stock-based compensation programs: stock options, a restricted stock and
restricted stock unit program (collectively referred to as “restricted stock”) and a discounted stock purchase plan
(“DSPP”).
Stock Options
Key employees are granted stock options under Schlumberger stock option plans. For all of the stock options
granted, the exercise price equals the average of the high and low sales prices of Schlumberger stock on the date of
grant; an option’s maximum term is ten years, and options generally vest in increments over four or five years.
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing
model with the following weighted-average assumptions and resulting weighted-average fair value per share:
2011 2010 2009
Dividend yield
1.2%
1.3% 1.2%
Expected volatility
37%
35% 34%
Risk free interest rate
2.8%
2.9% 2.2%
Expected option life in years
6.9
6.9
6.9
Weighted-average fair value per share
$31.38
$24.13 $13.92
The following table summarizes information concerning options outstanding and options exercisable by five ranges
of exercise prices as of December 31, 2011:
56
