• Print-friendly Annual Report:       English (size 912 KB)                         Part I     Part II     • Market for Schlumberger’s Common Stock and Related Stockholder Matters     • Selected Financial Data     • Management’s Discussion and Analysis of Financial Condition and Results of Operations     • Quantitative and Qualitative Disclosures About Market Risk     • Financial Statements and Supplementary Data       Consolidated Statement of Income       Consolidated Balance Sheet       Consolidated Statement of Cash Flow       Consolidated Statement of Stockholders' Equity       Shares of Common Stock     Notes to Consolidated Financial Statements       Report of Independent Auditors       Quarterly Results     • Changes in and Disagreements with Accountants on Account and Financial Disclosures     • Controls and Procedures     Part III     Part IV		Print friendly pdf of Form 10-K Part II Part II   Item 8    Notes to Consolidated Financial Statements   7.   Investments in Affiliated Companies Schlumberger and Smith International Inc. operate a drilling fluids joint venture of which Schlumberger owns a 40% interest and records income using the equity method of accounting. Schlumberger's investment on December 31, 2003 and 2002 was $657 million and $592 million, respectively. Schlumberger's equity income from this joint venture in 2003 was $52 million, $48 million in 2002 and $51 million in 2001.       Go to Part II, Item 8, Notes: 8. Investments