During the first quarter of 2025, SLB recorded $49 million of charges in connection with the acquisition of ChampionX and the October 2023 acquisition of the Aker Solutions subsea business. 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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Other 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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Third quarter: |
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Amortization of inventory fair value adjustment |
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66 |
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15 |
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- |
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51 |
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Acquisition-related professional fees |
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61 |
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- |
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- |
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61 |
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Workforce reductions |
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57 |
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4 |
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- |
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53 |
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Acquisition-related employee benefits |
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54 |
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2 |
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- |
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52 |
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Impairment of equity-method investment |
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52 |
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4 |
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- |
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48 |
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Other merger and integration |
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28 |
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2 |
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4 |
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22 |
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$ |
546 |
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$ |
53 |
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$ |
12 |
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$ |
481 |
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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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Amortization of inventory fair value adjustment |
$ |
14 |
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$ |
4 |
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$ |
3 |
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$ |
7 |
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Merger and integration |
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11 |
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2 |
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2 |
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7 |
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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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16 |
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1 |
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5 |
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10 |
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Amortization of inventory fair value adjustment |
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15 |
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4 |
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3 |
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8 |
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Third quarter: |
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Workforce reductions |
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65 |
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10 |
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- |
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55 |
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Merger and integration |
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33 |
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6 |
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4 |
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23 |
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Amortization of inventory fair value adjustment |
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14 |
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4 |
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3 |
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7 |
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$ |
279 |
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$ |
48 |
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$ |
20 |
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$ |
211 |
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