GENERAL MOTORS COMPANY AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) In July 2009 Old GM recorded adjustments resulting in a net decrease in valuation allowances of $20.7 billion as a result of the 363 Sale and fresh-start reporting.
The net decrease primarily resulted from U. S.  federal and state tax attribute reduction of $12.2 billion related to debt cancellation income, a net difference of $5.5 billion between fresh-start reporting and historical U. S.  GAAP bases of assets and liabilities at entities with valuation allowances, net valuation allowances of $1.7 billion associated with assets and liabilities retained by Old GM, a foreign tax attribute reduction of $0.9 billion and release of valuation allowances of $0.7 billion.
After the deconsolidation of our Saab unit in February 2009, corresponding deferred taxes and valuation allowances in Sweden were no longer recorded in Old GM financial statements.
Old GM established or released the following significant valuation allowances for jurisdictions not on a full valuation allowance throughout the applicable period (dollars in millions):
## Table 0 ##
Over the past several years, we and Old GM have accumulated pre-tax losses in the U. S.  and various non-U.
S.  jurisdictions.
These historical pre-tax losses were driven by several factors including but not limited to instability of the global economic environment, automotive price competition, relatively high cost structure, unfavorable commodity prices, unfavorable regulatory and tax environments and a challenging foreign currency exchange environment.
By December 31, 2008, after weighing these objective and verifiable negative evidence factors with all other available positive and negative evidence, Old GM determined it was more likely than not it would not realize its net deferred tax assets, and established valuation allowances for major jurisdictions including the U. S. , Canada, Brazil, Australia, South Korea, Germany, Spain and the United Kingdom.
Additional concerns arose related to the U. S.  parent company’s liquidity which led us to establish valuation allowances for Texas and various non-U.
S.  jurisdictions, even though many of these jurisdictions had historical profits and no other significant negative evidence factors.
In 2009 the U. S.  parent company liquidity concerns were resolved in connection with the Chapter 11 Proceedings and the 363 Sale, and many non-U.
S.  jurisdictions, including Brazil, were generating and projecting U. S.  GAAP and local taxable income.
To the extent there were no other significant negative evidence factors, Old GM determined it was more likely than not it would realize its net deferred tax assets and reversed valuation allowances in Brazil and various non-U.
S.  jurisdictions.
Although we are a new company, and our ability to achieve future profitability was enhanced by the cost and liability reductions that occurred as a result of the Chapter 11 Proceedings and 363 Sale, Old GM’s historic operating results remain relevant as they are reflective of the industry and the effect of economic conditions.
The fundamental businesses and inherent risks in which we globally operate did not change from those in which Old GM operated.
As such, subsequent to the Chapter 11 Proceedings and the 363 Sale, due to objective and verifiable negative evidence including cumulative and current losses, we determined it was still more likely than not the net deferred tax assets would not be realized in major jurisdictions including the U. S. , Canada, Australia, South Korea, Germany, Spain and the United Kingdom.
At December 31, 2010 objective and verifiable negative evidence continues to outweigh positive evidence in our key valuation allowance jurisdictions.
If, in the future, we generate taxable income in jurisdictions where we have recorded full valuation allowances, on a sustained basis, our conclusion regarding the need for full valuation allowances in these tax jurisdictions could
Part II, Item 8 2007 Fourth quarter of 2007: ?
Schlumberger sold certain workover rigs for $32 million, resulting in a pretax gain of $24 million ($17 million after-tax) which is classified in Interest and other income, net in the Consolidated Statement of Income.4.
Acquisitions Acquisition of Eastern Echo Holding Plc On December 10, 2007, Schlumberger completed the acquisition of Eastern Echo Holding Plc (“Eastern Echo”) for $838 million in cash.
Eastern Echo was a Dubai-based marine seismic company that did not have any operations at the time of acquisition, but had signed contracts for the construction of six seismic vessels.
The purchase price has been allocated to the net assets acquired based upon their estimated fair values as follows:
## Table 1 ##
Other Acquisitions Schlumberger has made other acquisitions and minority interest investments, none of which were significant on an individual basis, for cash payments, net of cash acquired, of $514 million during 2009, $345 million during 2008, and $281 million during 2007.
Pro forma results pertaining to the above acquisitions are not presented as the impact was not significant.5.
Drilling Fluids Joint Venture The MI-SWACO drilling fluids joint venture is owned 40% by Schlumberger and 60% by Smith International, Inc.  Schlumberger records income relating to this venture using the equity method of accounting.
The carrying value of Schlumberger’s investment in the joint venture on December 31, 2009 and 2008 was $1.4 billion and $1.3 billion, respectively, and is included within Investments in Affiliated Companies on the Consolidated Balance Sheet.
Schlumberger’s equity income from this joint venture was $131 million in 2009, $210 million in 2008 and $178 million in 2007.
Schlumberger received cash distributions from the joint venture of $106 million in 2009, $57 million in 2008 and $46 million in 2007.
The joint venture agreement contains a provision under which either party to the joint venture may offer to sell its entire interest in the venture to the other party at a cash purchase price per percentage interest specified in an offer notice.
If the offer to sell is not accepted, the offering party will be obligated to purchase the entire interest of the other party at the same price per percentage interest as the prices specified in the offer notice.
## Table 2 ##
Oilfield Services Other include certain headquarter administrative costs which are not allocated geographically, manufacturing and certain other operations, and other cost and income items maintained at the Oilfield Services level.
Corporate and Other is comprised principally of corporate expenses as well as interest income and interest expense not allocated to the segments in addition to interest on postretirement medical benefits, stock-based compensation costs and certain other nonoperating expenses.
Corporate assets consist of cash, short-term investments, fixed income investments, held to maturity and investments in affiliates.
Segments assets consist of receivables, inventories, fixed assets and multiclient seismic data.
During each of the three years ended December 31, 2009, no single customer exceeded 10% of consolidated revenue.
Schlumberger did not have revenue from third-party customers in its country of domicile during the last three years.
Revenue in the United States in 2009, 2008 and 2007 was $3.7 billion, $5.9 billion and $5.6 billion, respectively.
Interest income excludes amounts which are included in the segments’ income (2009 – $10 million: 2008 – $7 million; 2007 – $2 million).
Interest expense excludes amounts which are included in the segments’ income (2009 – $33 million; 2008 – $30 million; 2007 – $7 million).
Depreciation & Amortization includes multiclient seismic data costs.19.
Pension and Other Benefit Plans Pension Plans Schlumberger sponsors several defined benefit pension plans that cover substantially all U. S.  employees hired prior to October 1, 2004.
The benefits are based on years of service and compensation, on a career-average pay basis.
In addition to the United States defined benefit pension plans, Schlumberger sponsors several other international defined benefit pension plans.
The most significant of these international plans are the International Staff Pension Plan, which was converted from a defined contribution plan to a defined benefit

<table><tr><td></td><td colspan="2"> Predecessor</td></tr><tr><td> Jurisdiction(s)</td><td>Valuation Allowance Charge/(Release)</td><td> Period Ended</td></tr><tr><td>Brazil</td><td>$-465</td><td>July 9, 2009</td></tr><tr><td>Various non-U.S.</td><td>$-286</td><td>July 9, 2009</td></tr><tr><td>South Korea</td><td>$725</td><td>December 31, 2008</td></tr><tr><td>Various non-U.S.</td><td>$329</td><td>December 31, 2008</td></tr><tr><td>Australia</td><td>$284</td><td>December 31, 2008</td></tr><tr><td>Texas</td><td>$152</td><td>December 31, 2008</td></tr><tr><td>Spain</td><td>$206</td><td>March 31, 2008</td></tr><tr><td>United Kingdom</td><td>$173</td><td>March 31, 2008</td></tr></table>
<table><tr><td>Cash and short-term investments</td><td>$266</td></tr><tr><td>Other current assets</td><td>23</td></tr><tr><td>Fixed income investments, held to maturity</td><td>54</td></tr><tr><td>Vessels under construction</td><td>694</td></tr><tr><td>Accounts payable and accrued liabilities</td><td>-17</td></tr><tr><td>Long-term debt</td><td>-182</td></tr><tr><td>Total purchase price</td><td>$838</td></tr></table>
<table><tr><td></td><td colspan="5">2007</td></tr><tr><td></td><td> Revenue</td><td>Income before taxes</td><td> Assets</td><td> Depn. & Amortn.</td><td>Capital Expenditure</td></tr><tr><td> OFS</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>North America</td><td>$5,345</td><td>$1,537</td><td>$2,369</td><td>$367</td><td>$591</td></tr><tr><td>Latin America</td><td>3,295</td><td>755</td><td>1,951</td><td>185</td><td>292</td></tr><tr><td>Europe/CIS/Africa</td><td>6,602</td><td>1,885</td><td>3,489</td><td>451</td><td>920</td></tr><tr><td>Middle East & Asia</td><td>4,869</td><td>1,707</td><td>2,874</td><td>393</td><td>772</td></tr><tr><td>Other</td><td>195</td><td>75</td><td>1,706</td><td>5</td><td>-18</td></tr><tr><td></td><td>20,306</td><td>5,959</td><td>12,389</td><td>1,401</td><td>2,557</td></tr><tr><td> WESTERNGECO</td><td>2,963</td><td>1,060</td><td>2,650</td><td>546</td><td>359</td></tr><tr><td>Goodwill and Intangible assets</td><td></td><td></td><td>6,045</td><td></td><td></td></tr><tr><td>All other assets</td><td></td><td></td><td>1,748</td><td></td><td></td></tr><tr><td>Corporate</td><td>8</td><td>-311</td><td>5,021</td><td>7</td><td>15</td></tr><tr><td>Interest income</td><td></td><td>160</td><td></td><td></td><td></td></tr><tr><td>Interest expense</td><td></td><td>-268</td><td></td><td></td><td></td></tr><tr><td>Charges and credits</td><td></td><td>25</td><td></td><td></td><td></td></tr><tr><td></td><td>$23,277</td><td>$6,625</td><td>$27,853</td><td>$1,954</td><td>$2,931</td></tr></table>

Question: what was the growth rate of the equity income in drilling fluids joint venture the mi-swaco from 2007 to 2007 for schlumberger