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Long-term Debt
3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Long-term Debt

7. Long-term Debt

Long-term Debt consist of the following:

 

(Stated in millions)

 

 

 

 

 

 

 

 

Mar. 31,

 

 

Dec. 31,

 

 

2023

 

 

2022

 

3.90% Senior Notes due 2028

$

1,464

 

$

1,464

 

2.65% Senior Notes due 2030

 

1,250

 

 

 

1,250

 

1.375% Guaranteed Notes due 2026

 

1,082

 

 

 

1,061

 

2.00% Guaranteed Notes due 2032

 

1,076

 

 

 

1,055

 

0.25% Notes due 2027

 

974

 

 

 

955

 

0.50% Notes due 2031

 

973

 

 

 

954

 

4.30% Senior Notes due 2029

 

847

 

 

847

 

1.00% Guaranteed Notes due 2026

 

648

 

 

635

 

0.00% Notes due 2024

 

542

 

 

 

531

 

4.00% Senior Notes due 2025

 

523

 

 

522

 

1.40% Senior Notes due 2025

 

499

 

 

 

499

 

3.75% Senior Notes due 2024

 

355

 

 

355

 

7.00% Notes due 2038

 

201

 

 

 

202

 

5.95% Notes due 2041

 

112

 

 

 

112

 

5.13% Notes due 2043

 

98

 

 

 

98

 

3.70% Notes due 2024

 

54

 

 

 

54

 

$

10,698

 

$

10,594

 

 

The estimated fair value of SLB’s Long-term Debt, based on quoted market prices at March 31, 2023 and December 31, 2022, was $9.8 billion and $9.4 billion, respectively.

 

At March 31, 2023, SLB had committed credit facility agreements aggregating $5.75 billion with commercial banks, of which $5.19 billion was available and unused. These committed facilities support commercial paper programs in the United States and Europe, of which $0.75 billion matures in February 2024, $2.0 billion matures in February 2025, $1.0 billion matures in July 2026 and $2.0 billion matures in February 2027. SLB also has a €750 million three-year committed revolving credit facility maturing in June 2024. At March 31, 2023 no amounts had been drawn under this facility. Interest rates and other terms of borrowing under these lines of credit vary by facility.

 

Borrowings under the commercial paper programs at March 31, 2023 were $559 million, all of which was classified in Short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheet. There were no borrowings under the commercial paper programs at December 31, 2022.

 

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA and Schlumberger Finance Canada Ltd., both indirect wholly-owned subsidiaries of Schlumberger Limited.