6. Fixed Assets
A summary of fixed assets follows:
As at December 31,
2010 2009
(Stated in millions)
Land
$ 314
$ 141
Buildings & improvements
2,631
1,806
Machinery & equipment
21,873
17,939
Seismic vessels and related equipment
1,861
924
Seismic vessels under construction
–
695
26,679
21,505
Less accumulated depreciation
14,608
11,845
$12,071
$ 9,660
The estimated useful lives of Buildings & improvements are primarily 30 to 40 years. The estimated useful lives of
Machinery & equipment are primarily 5 to 10 years. Seismic vessels are depreciated over periods ranging from 20 to
30 years with the related equipment generally depreciated over 5 years.
Depreciation expense relating to fixed assets was $2.4 billion, $2.1 billion and $1.9 billion in 2010, 2009 and 2008,
respectively.
7. Multiclient Seismic Data
The change in the carrying amount of multiclient seismic data is as follows:
2010 2009
(Stated in millions)
Balance at beginning of year
$ 288
$ 287
Capitalized in year
326
230
Charged to expense
(220)
(229)
$ 394
$ 288
8. Goodwill
The changes in the carrying amount of goodwill by business segment were as follows:
Oilfield
Services
Western
Geco
M-I
SWACO
Smith
Oilfield Distribution
Total
(Stated in millions)
Balance, January 1, 2009
$4,174
$1,015
$–
$–
$–
$5,189
Additions
121
–
–
–
–
121
Impact of change in exchange rates
(5)
–
–
–
–
(5)
Balance, December 31, 2009
4,290
1,015
–
–
–
5,305
Acquisition of Smith
1,030
–
3,443
3,349
70
7,892
Additions
740
17
4
–
–
761
Transfers
58
(58)
–
–
–
–
Impact of change in exchange rates
(6)
–
–
–
–
(6)
Balance, December 31, 2010
$6,112
$974
$3,447
$3,349
$70
$13,952
52
Part II, Item 8
