SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

Year Ended December 31,

2010 Vertical-C S
(Stated in millions, except per share amounts)
Revenue
$27,447
Interest and other income, net
214
Gain on investment in M-I SWACO
1,270
Expenses
Cost of revenue
21,499
Research & engineering
919
General & administrative
650
Merger & integration
169
Restructuring & other
331
Interest
207
Income from Continuing Operations before taxes
5,156
Taxes on income
890
Income from Continuing Operations
4,266
Income (Loss) from Discontinued Operations

Net Income
4,266
Net (income) loss attributable to noncontrolling interests 1
Net Income attributable to Schlumberger
$4,267
Schlumberger amounts attributable to:
Income from Continuing Operations
$4,267
Income (Loss) from Discontinued Operations

Net Income
$4,267
Basic earnings per share of Schlumberger:
Income from Continuing Operations
$3.41
Income (Loss) from Discontinued Operations

Net Income(1)
$3.41
Diluted earnings per share of Schlumberger:
Income from Continuing Operations
$3.38
Income (Loss) from Discontinued Operations

Net Income
$3.38
Average shares outstanding
Basic
1,250
Assuming dilution
1,263
(1) Amounts may not add due to rounding
See the Notes to Consolidated Financial Statements

Horizontal
100

101

52

5
78

113

112

111

1
1

285

84

19

75

62

16

79

16

78

-4

16

79

16

79

16

79

2009 Vertical
$22,702
273

Horizontal

2008 Vertical

100

84

66

$27,163

Horizontal
100

100

412

100

17,245

76

91

18,957

70

100

802

98

819

100

535

92

584

100

116

100

238

205

221

89

247

100

3,934

17

57

6,852

25

100

770

54

1,430

100

3,164

14

58

5,422

20

100

-22

-58

38

100

3,142

14

58

5,460

20

100

-8

32

-25

100

$3,134

14

58

$5,435

20

100

$3,156

14

58

$5,397

20

100

-58

100

14

58

20

100

-22
$3,134
$2.63
-0.02

38
$5,435
$4.51
0.03

$2.62

$4.54

$2.61

$4.42

-0.02
$2.59

0.03
$4.45

1,198

1,196

1,214

1,224

SCHLUMBERGER LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

December 31, 2010 2009

(Stated in millions)
ASSETS
Current Assets
Cash
Short-term investments
Receivables less allowance for doubtful accounts (2010 $185; 2009 $160)
Inventories
Deferred taxes
Other current assets
Fixed Income Investments, held to maturity
Investments in Affiliated Companies
Fixed Assets less accumulated depreciation
Multiclient Seismic Data
Goodwill
Intangible Assets
Deferred Taxes
Other Assets
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued liabilities
Estimated liability for taxes on income
Long-term debt current portion
Short-term borrowings
Dividend payable
Convertible debentures
Long-term Debt
Postretirement Benefits
Deferred Taxes
Other Liabilities
Equity
Common stock
Treasury stock
Retained earnings
Accumulated other comprehensive loss
Schlumberger stockholders equity
Noncontrolling interests

2010 Vertical

Horizontal

2009 Vertical

$1,764
3,226
8,278
3,804
51
975
18098
484
1,071
12,071
394
13,952
5,162

330
603
1547
711
10
182
35
90
200
2256
74
2608
965

535

100

$6,488
1,493
2,214
381
289

13
3
4
1
1

130
170
499
106
114

5,517
1,262
1,636
1,043

11
2
3
2

127
76

11,920
-3,136
25,210
-2,768
31,226
218

23
-6
49
-5
60
0
61

51767

286
81
136
204
33
105
133
21
11
4191

$617
3,999
6,088
1,866
154
926
13650
738
2,306
9,660
288
263
5,305
657
786
376
150
356
$33,465

2
12
18
6
0
3
41
2
7
29
1
16
2
1
1
100

100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

$5,003
878
444
360
253
321
7259
4,355
1,660

15
3
1
1
1
1
22
13
5

100
100
100
100
100
100
100
100
100

108

962
14236

3
43

100
100

250
63
114
104
163
200
164

4,777
-5,002
22,019
-2,674
19,120
109
19,229

14
-15
66
-8
57
0
57

100
100
100
100
100
100
100

10,865

20,323

31,444

Horizontal

$51,767

100

155 $33,465

100

100