Schlumberger 2011 Annual Report - page 42

The following is a summary of the 2011 charges and credits:
(Stated in millions)
Pretax Tax Net
Consolidated Statement of
Income Classification
Merger-related integration costs
$115 $19 $ 96
Merger & integration
Donation to the Schlumberger Foundation
50
10
40
General & administrative
Write-off of assets in Libya
60
– 60
Cost of revenue -Oilfield Services
$225 $29 $196
The following is a summary of the 2010 charges and credits:
(Stated in millions)
Pretax Tax
Net
Consolidated Statement of
Income Classification
Restructuring and Merger-related Charges:
Severance and other
$ 90 $ 13 $ 77
Restructuring & other
Impairment relating to WesternGeco’s first generation Q-Land acquisition system 78
7
71
Restructuring & other
Other WesternGeco-related charges
63
63
Restructuring & other
Professional fees and other
107
1
106
Merger & integration
Merger-related employee benefits
58 10
48
Merger & integration
Inventory fair value adjustments
153 56
97
Cost of revenue - Oilfield Services
Mexico restructuring
40
4
36
Restructuring & other
Repurchase of bonds
60 23
37
Restructuring & other
Total restructuring and merger-related charges
649 114
535
Gain on investment in M-I SWACO
(1,270) (32) (1,238)
Gain on Investment in M-I SWACO
Impact of elimination of tax deduction related to Medicare Part D subsidy
– (40)
40
Taxes on income
$ (621) $ 42 $ (663)
The following is a summary of the 2009 charges:
(Stated in millions)
Pretax Tax Net
Consolidated Statement of
Income Classification
Workforce reductions
$102 $17 $ 85
Restructuring & other
Postretirement benefits curtailment
136
14 122
Restructuring & other
$238 $31 $207
Cash Flow
Net Debt represents gross debt less cash, short-term investments and fixed income investments, held to maturity.
Management believes that Net Debt provides useful information regarding the level of Schlumberger’s indebtedness by
reflecting cash and investments that could be used to repay debt.
24
1...,32,33,34,35,36,37,38,39,40,41 43,44,45,46,47,48,49,50,51,52,...106
Powered by FlippingBook