8-KEarnings & ResultsRegulation FDExhibits & Filings

SLB LIMITED/NV 8-K Report, Financial Results (Jan 18, 2013)

Filed January 18, 2013For Securities:SLB

Summary

Schlumberger (SLB) filed an 8-K on January 18, 2013, to report its fourth-quarter and full-year results for 2012. The report primarily serves to furnish a press release detailing these financial results. Key information presented includes both GAAP and non-GAAP financial measures, such as net debt and earnings per share excluding certain charges and credits, which management believes provide a clearer operational trend analysis. For the full year 2012, Schlumberger reported GAAP income from continuing operations of $5.44 billion, or $4.06 per diluted share, compared to $3.47 per diluted share in 2011. Excluding charges and credits, adjusted income was $5.58 billion, or $4.17 per diluted share, up from $3.61 in 2011. The fourth quarter of 2012 saw GAAP income from continuing operations at $1.36 billion, or $1.02 per diluted share, a slight decrease from the prior quarter's $1.06 and a decrease from $1.04 in the fourth quarter of 2011.

Key Highlights

  • 1Schlumberger reported full-year 2012 GAAP income from continuing operations of $5.44 billion ($4.06 diluted EPS), an increase from $3.47 EPS in 2011.
  • 2Full-year 2012 adjusted income (excluding charges/credits) was $5.58 billion ($4.17 diluted EPS), showing growth from $3.61 EPS in 2011.
  • 3Fourth-quarter 2012 GAAP income from continuing operations was $1.36 billion ($1.02 diluted EPS).
  • 4The filing includes definitions and explanations of non-GAAP financial measures used by management, such as Net Debt and adjusted income/EPS, to provide deeper operational insights.
  • 5Management believes these non-GAAP measures help in evaluating performance and identifying operating trends without the impact of specific charges and credits.
  • 6The company provided comparative figures for Q4 2012 versus Q4 2011 and the preceding quarter, indicating a slight sequential and year-over-year decline in Q4 GAAP EPS.
  • 7The 8-K filing incorporates by reference the official press release and supplemental information concerning the Q4 and Full Year 2012 results.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly disclose Schlumberger's financial results for the fourth quarter and full year of 2012. It incorporates by reference the company's official press release and supplemental information that contain these detailed results.

The filing highlights both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. Key GAAP metrics include income from continuing operations and diluted earnings per share. Non-GAAP metrics discussed include Net Debt and various earnings per share and return on sales figures, adjusted to exclude specific charges and credits.

For the full year 2012, Schlumberger reported a significant increase in income from continuing operations attributable to the company. GAAP income was $5.44 billion ($4.06 diluted EPS) compared to $3.47 diluted EPS in 2011. On an adjusted basis (excluding charges and credits), income was $5.58 billion ($4.17 diluted EPS) versus $3.61 diluted EPS in 2011.

In the fourth quarter of 2012, Schlumberger reported GAAP income from continuing operations of $1.36 billion, resulting in diluted earnings per share of $1.02. This represents a decrease from $1.06 per share in the previous quarter and a slight decrease from $1.04 per share in the fourth quarter of 2011. Adjusted earnings per share for Q4 2012 was $1.08.