Summary
SLB LIMITED/NV (SLB) filed an 8-K on July 23, 2010, primarily to furnish its Second-Quarter 2010 financial results. The filing includes a press release and supplemental information detailing the company's performance for the quarter ended June 30, 2010. Investors should note that alongside GAAP-based financial results, SLB also provided several non-GAAP financial measures. These non-GAAP measures include Net Debt (defined as gross debt less cash and certain investments), as well as various "excluding charges" metrics for income, earnings per share, and return on sales. Management states these exclusions are intended to provide a clearer view of operational trends over time by removing the impact of specific "charges." While these non-GAAP figures offer additional insight, investors are reminded to consider them in conjunction with, and not as a replacement for, standard GAAP financial reporting.
Key Highlights
- 1SLB announced its Second-Quarter 2010 financial results on July 23, 2010, via an 8-K filing.
- 2The filing furnished a press release and supplemental information detailing Q2 2010 performance.
- 3SLB provided non-GAAP financial measures, including Net Debt, in addition to GAAP results.
- 4Net Debt is defined as gross debt minus cash, short-term investments, and fixed income investments held to maturity.
- 5Other non-GAAP measures exclude specific "charges" to allow for better period-over-period operational evaluation.
- 6These non-GAAP measures are intended to supplement, not replace, standard GAAP financial reporting.
- 7The Chief Accounting Officer, Howard Guild, signed the filing.