During the first quarter of 2025, in connection with the ChampionX transaction and the October 2023 acquisition of the Aker Solutions subsea business, SLB recorded $49 million of charges related to merger and integration-related costs. These costs are classified in Merger & integration in the Consolidated Statement of Income.
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(Stated in millions) |
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Pretax Charge |
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Tax Benefit |
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Noncontrolling |
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(Credit) |
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(Expense) |
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Interests |
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Net |
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First quarter: |
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Workforce reductions |
$ |
158 |
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$ |
10 |
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$ |
- |
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$ |
148 |
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Merger and integration |
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49 |
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1 |
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4 |
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44 |
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Second quarter: |
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- |
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Impairment of equity method investment |
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69 |
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12 |
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- |
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57 |
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Workforce reductions |
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66 |
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3 |
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- |
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63 |
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Merger and integration |
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35 |
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4 |
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4 |
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27 |
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Gain on sale of Palliser APS project |
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(149 |
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(4 |
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- |
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(145 |
) |
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$ |
228 |
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$ |
26 |
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$ |
8 |
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$ |
194 |
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(Stated in millions) |
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Noncontrolling |
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Pretax Charge |
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Tax Benefit |
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Interests |
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Net |
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First quarter: |
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Merger and integration |
$ |
25 |
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$ |
6 |
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$ |
5 |
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$ |
14 |
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Second quarter: |
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Workforce reductions |
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111 |
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17 |
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- |
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94 |
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Merger and integration |
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31 |
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5 |
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8 |
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18 |
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$ |
167 |
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$ |
28 |
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$ |
13 |
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$ |
126 |
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