Summary
This Form 8-K filing from SLB LIMITED/NV (SLB) on April 24, 2009, primarily serves to report the release of their First-Quarter 2009 financial results. The company made available a press release and supplemental information detailing these results on their investor relations website. Investors should note that in addition to standard GAAP figures, SLB also presents non-GAAP financial measures, specifically 'Net Debt' and 'Income from continuing operations, before charges and credits'. The non-GAAP measure of Net Debt is defined as gross debt minus cash, short-term investments, and fixed income investments held to maturity. Management believes this provides a clearer picture of the company's indebtedness by accounting for liquid assets available for debt repayment. The 'Income from continuing operations, before charges and credits' metric is used by management to better assess operational performance and identify trends without the distortion of specific charges or credits.
Key Highlights
- 1SLB released its First-Quarter 2009 financial results on April 24, 2009.
- 2Financial results were made available via press release and supplemental information on the company's investor website.
- 3The filing includes both GAAP and non-GAAP financial measures.
- 4A key non-GAAP measure presented is 'Net Debt', defined as gross debt less cash and certain investments.
- 5Management uses 'Net Debt' to provide insight into the company's leverage by considering liquid assets.
- 6Another non-GAAP measure is 'Income from continuing operations, before charges and credits', aimed at showing underlying operational trends.
- 7These non-GAAP measures are intended to supplement, not replace, GAAP financial figures.