8-KEarnings & ResultsExhibits & Filings

SLB LIMITED/NV 8-K Report, Financial Results (Jul 24, 2009)

Filed July 24, 2009For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an 8-K on July 24, 2009, primarily to report its second-quarter 2009 financial results. The filing includes a press release and supplemental information detailing the company's performance. Investors should note that SLB presented both GAAP and non-GAAP financial measures. The non-GAAP measures include Net Debt (defined as gross debt less cash and certain investments), Income from continuing operations excluding charges, and Diluted earnings-per-share from continuing operations excluding charges. Management believes these non-GAAP measures offer a more effective way to assess operational trends and performance over time by removing the impact of specific charges. Investors are advised to consider these non-GAAP figures in conjunction with, but not as a replacement for, GAAP-based financial metrics and disclosures found in SLB's other SEC filings.

Key Highlights

  • 1SLB filed an 8-K on July 24, 2009, to report its Second-Quarter 2009 financial results.
  • 2The report includes a press release (Exhibit 99.1) and supplemental financial information (Exhibit 99.2).
  • 3SLB provided both GAAP and non-GAAP financial measures in its earnings release.
  • 4Key non-GAAP measures disclosed include Net Debt, Income from continuing operations excluding charges, and Diluted earnings-per-share excluding charges.
  • 5Net Debt is defined as gross debt minus cash, short-term investments, and fixed income investments held to maturity.
  • 6The company stated that non-GAAP measures are intended to provide a clearer view of operational trends.
  • 7Investors are cautioned to consider non-GAAP measures alongside GAAP results.

Frequently Asked Questions

The main purpose of this 8-K filing is to report SLB's financial results for the second quarter of 2009, along with related commentary and supplemental information. This includes making their earnings press release and supplemental data publicly available.

SLB is reporting Net Debt (gross debt less cash and certain investments), Income from continuing operations excluding charges, and Diluted earnings-per-share from continuing operations excluding charges. These are presented in addition to their standard GAAP financial results.

SLB states that management believes these non-GAAP measures provide useful information by allowing for a more effective evaluation of the company's operations period over period and identification of operating trends, which might otherwise be obscured by specific charges.

The detailed financial results are available in the press release (Exhibit 99.1) and the supplemental information (Exhibit 99.2) that were furnished with this 8-K filing and posted on SLB's investor relations website.