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.