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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended June 30, 2020

OR
Transition Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the transition period from _____ to _____
Commission File Number 001-03492

HALLIBURTON COMPANY

(a Delaware corporation)
75-2677995

3000 North Sam Houston Parkway East
Houston, Texas 77032
(Address of Principal Executive Offices)

Telephone Number – Area Code (281) 871-2699

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $2.50 per shareHALNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YesNo

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
YesNo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
 Large Accelerated FilerAccelerated Filer
 Non-accelerated FilerEmerging Growth Company
Smaller Reporting Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
YesNo

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
YesNo

As of July 17, 2020, there were 878,470,401 shares of Halliburton Company common stock, $2.50 par value per share, outstanding.



HALLIBURTON COMPANY

Index

  Page No.
   
 
 
 
 
 
   
   
   
   
 



PART I. FINANCIAL INFORMATION
Item 1. Financial Statements

HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
June 30
Six Months Ended
June 30
Millions of dollars and shares except per share data2020201920202019
Revenue:    
Services$2,188  $4,559  $5,872  $8,911  
Product sales1,008  1,371  2,361  2,756  
Total revenue3,196  5,930  8,233  11,667  
Operating costs and expenses:    
Cost of services2,097  4,204  5,490  8,360  
Cost of sales820  1,120  1,908  2,216  
Impairments and other charges2,147  247  3,220  308  
General and administrative43  56  97  115  
Total operating costs and expenses5,107  5,627  10,715  10,999  
Operating income (loss)(1,911) 303  (2,482) 668  
Interest expense, net of interest income of $7, $4, $17 and $12
(124) (144) (258) (287) 
Loss on early extinguishment of debt    (168)   
Other, net(48) (8) (71) (38) 
Income (loss) before income taxes(2,083) 151  (2,979) 343  
Income tax benefit (provision)402  (74) 283  (114) 
Net income (loss)$(1,681) $77  $(2,696) $229  
Net (income) loss attributable to noncontrolling interest5  (2) 3  (2) 
Net income (loss) attributable to company$(1,676) $75  $(2,693) $227  
Basic and diluted net income (loss) per share$(1.91) $0.09  $(3.07) $0.26  
Basic weighted average common shares outstanding877  874  877  874  
Diluted weighted average common shares outstanding877  875  877  874  
     See notes to condensed consolidated financial statements.
HAL Q2 2020 FORM 10-Q | 1

HALLIBURTON COMPANY
Condensed Consolidated Statements of Comprehensive Income (Loss)
(Unaudited)

Three Months Ended
June 30
Six Months Ended
June 30
Millions of dollars2020201920202019
Net income (loss)$(1,681) $77  $(2,696) $229  
Other comprehensive income, net of income taxes9  1  20  2  
Comprehensive income (loss)$(1,672) $78  $(2,676) $231  
Comprehensive (income) loss attributable to noncontrolling interest5  (2) 3  (2) 
Comprehensive income (loss) attributable to company shareholders$(1,667) $76  $(2,673) $229  
     See notes to condensed consolidated financial statements.

HAL Q2 2020 FORM 10-Q | 2

HALLIBURTON COMPANY
Condensed Consolidated Balance Sheets
(Unaudited)

Millions of dollars and shares except per share dataJune 30,
2020
December 31,
2019
Assets
Current assets:  
Cash and equivalents$1,811  $2,268  
Receivables (net of allowances for credit losses of $796 and $776)
3,345  4,577  
Inventories2,745  3,139  
Other current assets1,198  1,228  
Total current assets9,099  11,212  
Property, plant and equipment (net of accumulated depreciation of $11,145 and $12,630)
5,156  7,310  
Goodwill2,801  2,812  
Deferred income taxes2,034  1,683  
Operating lease right-of-use assets750  931  
Other assets1,264  1,429  
Total assets$21,104  $25,377  
Liabilities and Shareholders’ Equity
Current liabilities:  
Accounts payable$1,708  $2,432  
Accrued employee compensation and benefits486  604  
Current portion of operating lease liabilities212  208  
Current maturities of long-term debt188  11  
Other current liabilities1,500  1,623  
Total current liabilities4,094  4,878  
Long-term debt9,638  10,316  
Operating lease liabilities779  825  
Employee compensation and benefits511  525  
Other liabilities886  808  
Total liabilities15,908  17,352  
Shareholders’ equity:  
Common stock, par value $2.50 per share (authorized 2,000 shares,
issued 1,067 and 1,068 shares)
2,666  2,669  
Paid-in capital in excess of par value125  143  
Accumulated other comprehensive loss(342) (362) 
Retained earnings9,098  11,989  
Treasury stock, at cost (190 shares)
(6,358) (6,427) 
Company shareholders’ equity5,189  8,012  
Noncontrolling interest in consolidated subsidiaries7  13  
Total shareholders’ equity5,196  8,025  
Total liabilities and shareholders’ equity$21,104  $25,377  
     See notes to condensed consolidated financial statements.

HAL Q2 2020 FORM 10-Q | 3

HALLIBURTON COMPANY
Condensed Consolidated Statements of Cash Flows
(Unaudited)


Six Months Ended
June 30
Millions of dollars20202019
Cash flows from operating activities:  
Net income (loss)$(2,696) $229  
Adjustments to reconcile net income (loss) to cash flows from operating activities:  
Impairments and other charges3,220  308  
Depreciation, depletion and amortization599  836  
Deferred income tax benefit, continuing operations(353) (47) 
Changes in assets and liabilities:  
Receivables1,079  (394) 
Accounts payable(744) (14) 
Inventories(39) (347) 
Other operating activities(243) (164) 
Total cash flows provided by (used in) operating activities823  407  
Cash flows from investing activities:  
Capital expenditures(355) (845) 
Proceeds from sales of property, plant and equipment122  87  
Other investing activities(48) (53) 
Total cash flows provided by (used in) investing activities(281) (811) 
Cash flows from financing activities:  
Payments on long-term borrowings(1,653) (12) 
Proceeds from issuance of long-term debt, net994    
Dividends to shareholders(198) (314) 
Stock repurchase program(100) (100) 
Other financing activities20  18  
Total cash flows provided by (used in) financing activities(937) (408) 
Effect of exchange rate changes on cash(62) (20) 
Decrease in cash and equivalents(457) (832) 
Cash and equivalents at beginning of period2,268  2,008  
Cash and equivalents at end of period$1,811  $1,176  
Supplemental disclosure of cash flow information:  
Cash payments during the period for:  
Interest$258  $266  
Income taxes$197  $208  
     See notes to condensed consolidated financial statements.

HAL Q2 2020 FORM 10-Q | 4

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
HALLIBURTON COMPANY
Notes to Condensed Consolidated Financial Statements
(Unaudited)

Note 1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements were prepared using generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, these financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our 2019 Annual Report on Form 10-K.

Our accounting policies are in accordance with United States generally accepted accounting principles. The preparation of financial statements in conformity with these accounting principles requires us to make estimates and assumptions that affect:
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and
the reported amounts of revenue and expenses during the reporting period.

Ultimate results could differ from our estimates.

In our opinion, the condensed consolidated financial statements included herein contain all adjustments necessary to present fairly our financial position as of June 30, 2020 and the results of our operations for the three and six months ended June 30, 2020 and 2019, and our cash flows for the six months ended June 30, 2020 and 2019. Such adjustments are of a normal recurring nature. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation.

The results of our operations for the three and six months ended June 30, 2020 may not be indicative of results for the full year.

Note 2. Impairments and Other Charges
        
The oil and gas industry experienced an unprecedented disruption during the first half of 2020 as a result of a combination of factors, including the substantial decline in global demand for oil caused by the COVID-19 pandemic and subsequent mitigation efforts, and disagreements between the Organization of Petroleum Exporting Countries and other oil producing nations (OPEC+) in February 2020 regarding limits on production of oil. These events created a substantial surplus of oil. WTI oil spot prices decreased from a high of $63 per barrel in early January to a low of negative $37 per barrel in late April, a level which had never been experienced, and then rose to a high of $41 per barrel in early July. The drop to a negative per barrel price for WTI was a short term effect of a combination of forward contracts expiring, coupled with the decrease in demand and the absence of available storage capacity. As a result, global activity declined significantly, with the global rig count sinking to the lowest level since 1973. The U.S. average rig count for the second quarter declined 50% compared to the first quarter, while the international rig count dropped 22%.

These market conditions have significantly impacted our business and our outlook globally, with a more severe impact to our North America business in the near-term. Customers continue to revise their capital budgets in order to adjust spending levels in response to the lower commodity prices, and we have experienced significant activity reductions and pricing pressure for our products and services, which we expect to continue. In line with these rapidly changing market conditions, our market capitalization also deteriorated as a result during the first half of 2020. We determined these recent events constituted a triggering event that required us to review the recoverability of our long-lived assets and perform an interim goodwill impairment assessment as of May 1, 2020. We also took actions to rationalize our portfolio of real estate facilities and initiate reductions in our global workforce in an effort to mitigate the impact of market deterioration and better align our workforce and cost structure with anticipated activity levels. As part of our real estate rationalization, we identified owned properties to sell and leased properties to abandon.

HAL Q2 2020 FORM 10-Q | 5

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
We determined the fair value of our long-lived assets based on a discounted cash flow analysis, with the exception of real estate facilities which are classified as held for sale for which fair value was based on third party sales price estimates. We determined the fair value for each reporting unit in our goodwill impairment assessment using both a discounted cash flow analysis and a multiples-based market approach for comparable companies. Given the current volatile market environment, we utilized third-party valuation advisors to assist us with these valuations. These analyses included significant judgment, including management’s short-term and long-term forecast of operating performance, discount rates based on our weighted average cost of capital, revenue growth rates, profitability margins, capital expenditures, the timing of future cash flows based on an eventual recovery of the oil and gas industry, and in the case of long-lived assets, the remaining useful life and service potential of the asset. These impairment assessments incorporate inherent uncertainties, including projected commodity pricing, supply and demand for our services and future market conditions, which are difficult to predict in volatile economic environments and could result in impairment charges in future periods if actual results materially differ from the estimated assumptions utilized in our forecasts.

Based upon our impairment assessments, we determined the carrying amount of some of our long-lived assets exceeded their respective fair values. Therefore, we recorded impairments and other charges of approximately $1.3 billion during the three months ended June 30, 2020 relating to these assets. Long-lived asset impairments include impairments of property, plant and equipment, intangible assets, and real estate facilities. As a result of our goodwill impairment assessment, we determined that the fair value of each reporting unit exceeded its net book value and, therefore, no goodwill impairments were deemed necessary. We will continue to evaluate these reporting units for potential goodwill impairment in the third quarter of 2020 as market conditions evolve.

The following table presents various pre-tax charges we recorded during the three and six months ended June 30, 2020 and 2019, which are reflected within "Impairments and other charges" on our condensed consolidated statements of operations.

Three Months Ended
June 30
Six Months Ended
June 30
Millions of dollars2020201920202019
Long-lived asset impairments$1,252  $108  $2,268  $150  
Inventory costs and write-downs494  33  494  33  
Severance costs241  58  273  77  
Other160  48  185  48  
Total impairments and other charges$2,147  $247  $3,220  $308  

Of the $2.1 billion of impairments and other charges recorded during the three months ended June 30, 2020, approximately $1.4 billion was attributable to our Completion and Production segment and approximately $770 million was attributable to our Drilling and Evaluation segment. The $1.3 billion of long-lived asset impairments consists of the following: $368 million attributable to hydraulic fracturing equipment, the majority of which was located in North America; $281 million related to real estate properties; $122 million related to right-of-use assets, primarily operating leases; $146 million related to well intervention services equipment; $131 million related to intangible assets; and $204 million associated with other fixed asset impairments, including disposals. Inventory costs and write-downs in the table above primarily represent disposal of excess inventory, including drilling fluids and other chemicals, and write-downs in which some of our inventory cost exceeded its market value.

Given the dynamic nature of the COVID-19 pandemic and related market conditions, we cannot reasonably estimate the period of time that these events will persist or the full extent of the impact they will have on our business. If market conditions continue to deteriorate, including crude oil prices further declining and remaining at low levels for a sustained period of time, we may record further asset impairments, which may include an impairment of the carrying value of our goodwill.

Note 3. Business Segment Information

We operate under two divisions, which form the basis for the two operating segments we report: the Completion and Production segment and the Drilling and Evaluation segment. Our equity in earnings and losses of unconsolidated affiliates that are accounted for using the equity method of accounting are included within cost of services and cost of sales on our statements of operations, which is part of operating income of the applicable segment.

HAL Q2 2020 FORM 10-Q | 6

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
The following table presents information on our business segments.
 Three Months Ended
June 30
Six Months Ended
June 30
Millions of dollars2020201920202019
Revenue:  
Completion and Production$1,672  $3,805  $4,634  $7,467  
Drilling and Evaluation1,524  2,125  3,599  4,200  
Total revenue$3,196  $5,930  $8,233  $11,667  
Operating income (loss):
Completion and Production$159  $470  $504  $838  
Drilling and Evaluation127  145  344  268  
Total operations286  615  848  1,106  
Corporate and other (a)(50) (65) (110) (130) 
Impairments and other charges (b)(2,147) (247) (3,220) (308) 
Total operating income (loss)$(1,911) $303  $(2,482) $668  
Interest expense, net of interest income(124) (144) (258) (287) 
Loss on early extinguishment of debt (c)    (168)   
Other, net(48) (8) (71) (38) 
Income (loss) before income taxes$(2,083) $151  $(2,979) $343  
(a) Includes certain expenses not attributable to a particular business segment, such as costs related to support functions and corporate executives, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions.
(b) For the three months ended June 30, 2020, amount includes approximately $1.4 billion attributable to Completion and Production, $770 million attributable to Drilling and Evaluation, and $25 million attributable to Corporate and other. For the three months ended June 30, 2019, amount includes $77 million attributable to Completion and Production, $142 million attributable to Drilling and Evaluation, and $28 million attributable to Corporate and other. For the six months ended June 30, 2020, amount includes $2.1 billion attributable to Completion and Production, $1.0 billion attributable to Drilling and Evaluation, and $41 million attributable to Corporate and other. For the six months ended June 30, 2019, amount includes $127 million attributable to Completion and Production, $153 million attributable to Drilling and Evaluation, and $28 million attributable to Corporate and other. See Note 2 for further discussion on these impairments and other charges.
(c) For the six months ended June 30, 2020, amount includes a $168 million loss on extinguishment of debt related to the early repurchase of senior notes. See Note 6 for further discussion on this charge.

Note 4. Revenue

Revenue is recognized based on the transfer of control or our customers' ability to benefit from our services and products in an amount that reflects the consideration we expect to receive in exchange for those services and products. The vast majority of our service and product contracts are short-term in nature. In recognizing revenue for our services and products, we determine the transaction price of purchase orders or contracts with our customers, which may consist of fixed and variable consideration. We also assess our customers' ability and intention to pay, which is based on a variety of factors, including our customers' historical payment experience and financial condition. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 20 to 60 days. Other judgments involved in recognizing revenue include an assessment of progress towards completion of performance obligations for certain long-term contracts, which involve estimating total costs to determine our progress towards contract completion and calculating the corresponding amount of revenue to recognize.

Disaggregation of revenue
We disaggregate revenue from contracts with customers into types of services or products, consistent with our two reportable segments, in addition to geographical area. Based on the location of services provided and products sold, 41% and 54% of our consolidated revenue was from the United States for the six months ended June 30, 2020 and 2019, respectively. No other country accounted for more than 10% of our revenue.

HAL Q2 2020 FORM 10-Q | 7

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
The following table presents information on our disaggregated revenue.

Millions of dollarsThree Months Ended
June 30
Six Months Ended
June 30
Revenue by segment:2020201920202019
Completion and Production$1,672  $3,805  $4,634  $7,467  
Drilling and Evaluation1,524  2,125  3,599  4,200  
Total revenue$3,196  $5,930  $8,233  $11,667  
Revenue by geographic region:
North America$1,049  $3,327  $3,509  $6,602  
Latin America346  571  862  1,158  
Europe/Africa/CIS691  823  1,522  1,571  
Middle East/Asia1,110  1,209  2,340  2,336  
Total revenue$3,196  $5,930  $8,233  $11,667  

Contract balances
We perform our obligations under contracts with our customers by transferring services and products in exchange for consideration. The timing of our performance often differs from the timing of our customer’s payment, which results in the recognition of receivables and deferred revenue. Deferred revenue represents advance consideration received from customers for contracts where revenue is recognized on future performance of service. Deferred revenue, as well as revenue recognized during the period relating to amounts included as deferred revenue at the beginning of the period, was not material to our condensed consolidated financial statements.

Transaction price allocated to remaining performance obligations
Remaining performance obligations represent firm contracts for which work has not been performed and future revenue recognition is expected. We have elected the practical expedient permitting the exclusion of disclosing remaining performance obligations for contracts that have an original expected duration of one year or less. We have some long-term contracts related to software and integrated project management services such as lump sum turnkey contracts. For software contracts, revenue is generally recognized over time throughout the license period when the software is considered to be a right to access our intellectual property. For lump sum turnkey projects, we recognize revenue over time using an input method, which requires us to exercise judgment. Revenue allocated to remaining performance obligations for these long-term contracts is not material.

Receivables
As of June 30, 2020, 27% of our net trade receivables were from customers in the United States. As of December 31, 2019, 36% of our net trade receivables were from customers in the United States. No other country or single customer accounted for more than 10% of our trade receivables at those dates. As a result of the current market environment, we have an increased risk of delayed customer payments and payment defaults associated with customer liquidity issues and bankruptcies. We routinely monitor the financial stability of our customers and employ an extensive process to evaluate the collectability of outstanding receivables. This process, which involves a high degree of judgment utilizing significant assumptions, includes analysis of our customers’ historical time to pay, financial condition and various financial metrics, debt structure, credit agency ratings, and production profile, as well as political and economic factors in countries of operations and other customer-specific factors.

HAL Q2 2020 FORM 10-Q | 8

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
Note 5. Inventories

Inventories consisted of the following:
Millions of dollarsJune 30,
2020
December 31,
2019
Finished products and parts$1,514  $1,865  
Raw materials and supplies1,154  1,147  
Work in process77  127  
Total$2,745  $3,139  

During the six months ended June 30, 2020, we recorded $494 million of impairment charges related to inventory. See Note 2 for further discussion on impairments and other charges.

Note 6. Debt

On March 3, 2020, we issued $1.0 billion aggregate principal amount of 2.92% senior notes due March 2030. Subsequently, on March 5, 2020, we completed a tender offer to purchase $1.5 billion aggregate principal amount of senior notes using proceeds from the debt issuance and cash on hand. The tender offer consisted of $500 million of 3.50% senior notes due August 2023 and $1.0 billion of 3.80% senior notes due November 2025. This early debt repurchase resulted in a $168 million loss on extinguishment, which included a tender premium, unamortized discounts and costs on the retired notes, and other tender fees. These costs were included in "Loss on early extinguishment of debt" on our condensed consolidated statements of operations for the six months ended June 30, 2020.

The $1.0 billion senior notes issued in March rank equally with our existing and future senior unsecured indebtedness, have semiannual interest payments, and have no sinking fund requirements. We may redeem some or all of the notes at any time at the applicable redemption prices, plus accrued and unpaid interest.

Note 7. Income Taxes

During the three months ended June 30, 2020, we recorded a total income tax benefit of $402 million on a pre-tax loss of $2.1 billion, resulting in an effective tax rate of 19.3%. Our effective tax rate during the three months ended June 30, 2020 was impacted by the geographic mix of our earnings.

During the six months ended June 30, 2020, we recorded a total income tax benefit of $283 million on a pre-tax loss of $3.0 billion, resulting in an effective tax rate of 9.5%. The effective tax rate for this period was primarily impacted by our first quarter results, which included the impacts of the COVID-19 pandemic and OPEC+ disagreements which created an unprecedented disruption in the oil and gas industry. After evaluating the negative impact that these events are expected to have on our business outlook, we determined that it was more likely than not that certain foreign tax credits would not be realized. Accordingly, we recognized a valuation allowance on our deferred tax assets in the amount of $310 million during the first quarter. Additionally, we recorded $3.2 billion of impairments and other charges and a $168 million loss on extinguishment of debt during the six months ended June 30, 2020, resulting in a $686 million tax benefit recognized during the period. Our effective tax rate during the six months ended June 30, 2020 was also impacted by the geographic mix of our earnings.

See Note 2 for further information on these adverse market conditions and impairments and other charges recognized during the three and six months ended June 30, 2020.

HAL Q2 2020 FORM 10-Q | 9

Part I. Item 1 | Notes to Condensed Consolidated Financial Statements
Note 8. Shareholders’ Equity

The following tables summarize our shareholders’ equity activity for the three and six months ended June 30, 2020 and June 30, 2019, respectively:
Millions of dollarsCommon StockPaid-in Capital in Excess of Par ValueTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Noncontrolling Interest in Consolidated SubsidiariesTotal
Balance at December 31, 2019$2,669  $143  $(6,427) $11,989  $(362) $13  $8,025  
Comprehensive income (loss):
Net income (loss)      (1,017)   2  (1,015) 
Other comprehensive income        11    11  
Cash dividends ($0.18 per share)
      (158)     (158) 
Stock repurchase program    (100)       (100) 
Stock plans  (33) 115        82  
Other          (2) (2) 
Balance at March 31, 2020$2,669  $110  $(6,412) $10,814  $(351) $13  $6,843  
Comprehensive income (loss):
Net loss      (1,676)   (5) (1,681) 
Other comprehensive income        9    9  
Cash dividends ($0.045 per share)
      (40)     (40) 
Stock plans(3) 15  54        66  
Other          (1) (1) 
Balance at June 30, 2020$2,666  $125  $(6,358) $9,098  $(342) $7  $5,196  

Millions of dollarsCommon StockPaid-in Capital in Excess of Par ValueTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Noncontrolling Interest in Consolidated SubsidiariesTotal
Balance at December 31, 2018$2,671  $211  $(6,744) $13,739  $(355) $22  $9,544  
Comprehensive income (loss):
Net income      152      152  
Other comprehensive income        1    1  
Cash dividends ($0.18 per share)
      (157)     (157) 
Stock plans  13  74        87  
Other          (2) (2) 
Balance at March 31, 2019$2,671  $224  $(6,670) $13,734  $(354) $20  $9,625  
Comprehensive income (loss):
Net income      75    2  77  
Other comprehensive income        1    1  
Cash dividends ($0.18 per share)
      (157)     (157) 
Stock repurchase program    (100)       (100) 
Stock plans(1) (166) 250        83  
Other