Acquisition (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following amounts represent the preliminary estimates of the fair value of assets acquired and liabilities assumed in the merger. The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained. These amounts, which are not expected to differ materially from current estimates, will be finalized no later than one year from the acquisition date.


(Stated in millions)

Cash	$	479
Accounts receivable		489
Inventories (1)		696
Net assets held for sale (2)		286
Fixed assets		676
Intangible assets:
Customer relationships (weighted-average life of 25 years)		950
Technology/Technical know-how (weighted-average life of 16 years)		980
Tradenames (weighted-average life of 20 years)		330
Other assets		204
Accounts payable and accrued liabilities		(717	)
Long-term debt		(612	)
Deferred taxes		(835	)
Other liabilities		(189	)
Noncontrolling interests		(19	)
Total identifiable net assets	$	2,718
Goodwill (3)		2,287
Total consideration transferred	$	5,005

(1)

SLB recorded an adjustment of $166 million to write-up the acquired inventory to its estimated fair value. This adjustment will be amortized as the acquired inventory is sold.

(2)

Concurrent with the closing of the acquisition, SLB completed the sale of ChampionX's Drilling Technologies business for net cash proceeds of $286 million.

(3)

The goodwill recognized is primarily attributable to expected synergies that will result from combining the operations of SLB and ChampionX, as well as intangible assets which do not qualify for separate recognition. The amount of goodwill that is deductible for income tax purposes is not significant.

Schedule of Fair Value of Consideration Transferred to Effect Merger

The following details the fair value of the consideration transferred to effect the acquisition of ChampionX:


(stated in millions, except exchange ratio and per share amounts)

Equity consideration:
Number of shares of ChampionX stock outstanding		191
Exchange ratio		0.735
SLB shares of common stock issued		141
SLB closing stock share price on July 15, 2025	$	35.07
Equity consideration			$	4,936
Fair value of replacement equity awards				69
Total fair value of the consideration transferred			$	5,005