Item 8. Financial Statements and Supplementary Data.
SCHLUMBERGER LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(Stated in millions, except per share amounts)
Year Ended December 31,
2011 2010 2009
Revenue
Oilfield Services
$36,959
$26,673 $22,702
Distribution
2,581
774
–
39,540
27,447 22,702
Interest and other income, net
129
214
273
Gain on investment in M-I SWACO
–
1,270
–
Expenses
Cost of revenue
Oilfield Services
28,940
21,098 17,519
Distribution
2,478
745
–
Research & engineering
1,073
919
802
General & administrative
427
311
261
Merger & integration
115
164
–
Restructuring & other
–
331
238
Interest
298
207
221
Income from continuing operations before taxes
6,338
5,156 3,934
Taxes on income
1,545
890
770
Income from continuing operations
4,793
4,266 3,164
Income (loss) from discontinued operations
220
–
(22)
Net income
5,013
4,266 3,142
Net income (loss) attributable to noncontrolling interests
16
(1)
8
Net income attributable to Schlumberger
$ 4,997
$ 4,267 $ 3,134
Schlumberger amounts attributable to:
Income from continuing operations
$ 4,777
$ 4,267 $ 3,156
Income (loss) from discontinued operations
220
–
(22)
Net income
$ 4,997
$ 4,267 $ 3,134
Basic earnings per share of Schlumberger:
Income from continuing operations
$ 3.54
$ 3.41 $ 2.63
Income (loss) from discontinued operations
0.16
– (0.02)
Net income
(1)
$ 3.70
$ 3.41 $ 2.62
Diluted earnings per share of Schlumberger:
Income from continuing operations
$ 3.51
$ 3.38 $ 2.61
Income (loss) from discontinued operations
0.16
– (0.02)
Net income
$ 3.67
$ 3.38 $ 2.59
Average shares outstanding:
Basic
1,349
1,250 1,198
Assuming dilution
1,361
1,263 1,214
(1)
Amounts may not add due to rounding
See the
Notes to Consolidated Financial Statements
33
