MERGER: Schlumberger and Smith International

Issue: How do I enter the Schlumberger merger with Smith International?

Cause: Schlumberger completed its merger with Smith International on 8/27/2010. Smith shareholders received Schlumberger stock in this merger.

The SEC filing for this merger can be found through the Schlumberger web site at:

http://investorcenter.slb.com/phoenix.zhtml?c=97513&p=irol-sec&seccat01enhanced.1_rs=1&seccat01enhanced.1_rc=10

Choose the S-4A filing of 7/16/2010.

Resolution:

This merger is a simple merger. The information below is based on the information available from the S-4 filed with the SEC. Price information is from websites offering historical prices.

The Merger Entry

Go to Transactions > Merger or Accounting > Securities > Record merger of securities depending on the version of the software being used. If you are unfamiliar with merger transactions you can get help at this url: http://www.iclub.com/support/kb/default.asp?page=normal_merger

Here is the information you need to enter the merger in Club Accounting.

Date: 8/27/2010

Old Security or Merging Company: Smith International (SII)

Price per share of old Security / SII: 38.84

Cash received:  See your broker statement for cash-in-lieu

New Security: Schlumberger (SLB)

Shares received : 0.6966 x (#of SII shares owned)

For example, if you owned 100 SII shares, enter (.6966 x 100) = 69.66 SLB shares.

(Remember to include fractional shares.)

Price per Share: 55.76  (SLB closing price on 8/27/2010)

Save the transaction and the merger has been entered.