Summary
SLB LIMITED/NV (SLB) filed an 8-K on April 20, 2007, to report its First-Quarter 2007 financial results. The filing primarily serves to furnish the press release and supplemental information detailing these results. Investors should note that the company is providing both GAAP and non-GAAP financial measures. The non-GAAP measures discussed are "Net Debt" (defined as gross debt less cash and investments) and "Return on Capital Employed" (ROCE). SLB management believes these non-GAAP metrics offer valuable insights into the company's financial health and operational efficiency, specifically regarding its leverage and value creation for capital providers. Investors are advised to consider these non-GAAP measures in conjunction with, and not as a substitute for, GAAP-based financial reporting.
Key Highlights
- 1SLB reported its First-Quarter 2007 financial results on April 20, 2007, via an 8-K filing.
- 2The filing includes a Press Release (Exhibit 99.1) and Supplemental Information (Exhibit 99.2) for Q1 2007.
- 3The company is presenting both GAAP and non-GAAP financial measures.
- 4Key non-GAAP measures highlighted are Net Debt and Return on Capital Employed (ROCE).
- 5Net Debt is defined as gross debt minus cash, short-term investments, and held-to-maturity fixed income investments.
- 6ROCE is presented as a measure of value created for capital providers.
- 7Investors are reminded to consider these non-GAAP measures alongside, not instead of, GAAP results.