What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report SLB's financial results for the fourth quarter and the full year ended December 31, 2010. It also serves to furnish important financial information, including non-GAAP measures, to investors.

What are the key financial performance indicators for 2010 as reported?

For the full year 2010, SLB reported GAAP income from continuing operations attributable to the company of $4.27 billion, translating to diluted EPS of $3.38. This represents a significant improvement compared to the $2.61 diluted EPS reported in 2009.

What non-GAAP financial measures does SLB highlight in this filing?

SLB highlights two non-GAAP financial measures: Net Debt (defined as gross debt less cash and short-term investments) and Income from continuing operations and diluted EPS, excluding charges and credits. Management uses these measures to provide a more comparable view of operational performance period-over-period.

How should investors interpret the financial information provided in this 8-K?

Investors should consider the provided financial information, including non-GAAP measures, in conjunction with the company's GAAP results. The non-GAAP figures are intended to offer additional insights into operational trends and financial condition, but they should not be considered a substitute for GAAP measures. It's also important to note that the information is furnished and not considered 'filed' for purposes of Section 18 of the Securities Exchange Act unless explicitly incorporated into other SEC filings.

SLB 8-K: Earnings & Results & Regulation FD

Summary

SLB LIMITED/NV (SLB) filed this 8-K on January 21, 2011, to report its Fourth-Quarter and Full-Year 2010 financial results. The filing primarily communicates earnings performance and introduces specific non-GAAP financial measures that management believes offer enhanced insights into the company's operational trends and debt management. Investors should note that the information presented, while informative, is furnished and not deemed "filed" under SEC rules, meaning it's not incorporated into broader SEC filings unless explicitly referenced. The key takeaway for investors is the reported performance for 2010, showing significant year-over-year improvement in GAAP income and diluted EPS compared to 2009. The company also highlights its non-GAAP metrics, Net Debt and Income excluding charges/credits, which management uses to provide a more normalized view of operational performance and financial leverage. The supplemental information and press release, which contain the detailed results, are attached as exhibits to this filing.

Key Highlights

1SLB reported its Fourth-Quarter and Full-Year 2010 financial results on January 21, 2011.
2Full-year 2010 GAAP income from continuing operations attributable to SLB was $4.27 billion, with diluted EPS of $3.38, an increase from $2.61 in 2009.
3Full-year 2010 non-GAAP income (excluding charges and credits) was $3.60 billion, with diluted EPS of $2.86, a slight increase from $2.78 in 2009.
4Fourth-quarter 2010 GAAP income from continuing operations was $1.04 billion, with diluted EPS of $0.76.
5Fourth-quarter 2010 non-GAAP income (excluding charges and credits) was $1.16 billion, with diluted EPS of $0.85.
6The report introduces non-GAAP measures: Net Debt (gross debt less cash and investments) and Income/EPS excluding charges and credits, for a clearer view of operational trends.
7The detailed financial results are provided in an attached press release (Exhibit 99.1) and supplemental information (Exhibit 99.2).

SLB LIMITED/NV 8-K Report, Financial Results (Jan 21, 2011)

Summary

Key Highlights

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