0000045012-24-000015 | 10-Q | XBRL Viewer

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income	$ 22	$ 17

Shareholders' Equity

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Shareholders’ Equity

The following tables summarize our shareholders’ equity activity for the three months ended March 31, 2024 and March 31, 2023, respectively:


Millions of dollars		Common Stock		Paid-in Capital in Excess of Par Value		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest in Consolidated Subsidiaries		Total
Balance at December 31, 2023		$	2,663	$	63	$	(5,540)	$	12,536	$	(331)	$	42	$	9,433
Comprehensive income (loss):
Net income		—		—		—		606		—		3		609
Other comprehensive income (loss)		—		—		—		—		(1)		1		—
Cash dividends ($0.17 per share)		—		—		—		(151)		—		—		(151)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		(1)		(63)		108		(3)		—		—		41
Other		—		—		—		—		—		—		—
Balance at March 31, 2024		$	2,662	$	—	$	(5,682)	$	12,988	$	(332)	$	46	$	9,682

















(a)	In the first quarter of 2024, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. As a result, additional paid in capital was reduced to zero, which resulted in a reduction of retained earnings by $3 million. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.


Millions of dollars		Common Stock		Paid-in Capital in Excess of Par Value		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest in Consolidated Subsidiaries		Total
Balance at December 31, 2022		$	2,664	$	50	$	(5,108)	$	10,572	$	(230)	$	29	$	7,977
Comprehensive income (loss):
Net income		—		—		—		651		—		4		655
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(145)		—		—		(145)
Stock repurchase program		—		—		(100)		—		—		—		(100)
Stock plans (a)		—		(50)		113		(3)		—		—		60
Other		—		—		—		—		—		(3)		(3)
Balance at March 31, 2023		$	2,664	$	—	$	(5,095)	$	11,075	$	(229)	$	30	$	8,445
















(a)	In the first quarter of 2023, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. As a result, additional paid in capital was reduced to zero, which resulted in a reduction of retained earnings by $3 million. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.

Our Board of Directors has authorized a program to repurchase our common stock from time to time. We repurchased 7.0 million shares of our common stock under the program during the three months ended March 31, 2024 for approximately $250 million. Approximately $3.8 billion remained authorized for repurchases as of March 31, 2024. From the inception of this program in February of 2006 through March 31, 2024, we repurchased approximately 260 million shares of our common stock for a total cost of approximately $10.3 billion. We repurchased 2.9 million shares of our common stock under the program during the three months ended March 31, 2023 for approximately $100 million.

Accumulated other comprehensive loss consisted of the following:


Millions of dollars	March 31, 2024		December 31, 2023
Cumulative translation adjustments	$	(83)	$	(84)
Defined benefit and other postretirement liability adjustments	(210)		(207)

Other	(39)		(40)
Total accumulated other comprehensive loss	$	(332)	$	(331)

- Definition

The entire disclosure for equity.

+ References

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+ Details

Insider Trading Arrangements

3 Months Ended

Mar. 31, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

Reporting Officer

Title

Reporting Action

Plan Start Date

Plan End Date

Aggregated Shares Covered

Intended to Satisfy Rule 10b5-1?

Van H. Beckwith

Executive Vice President, Secretary and Chief Legal Officer

Plan Adoption

2/7/2024

2/6/2025

221,141

Yes

Eric J. Carre

Executive Vice President and Chief Financial Officer

Plan Adoption

2/7/2024

2/6/2025

309,428

Yes

Charles E. Geer, Jr

Senior Vice President and Chief Accounting Officer

Plan Adoption

2/7/2024

2/6/2025

33,800

Yes

Myrtle L. Jones

Senior Vice President, Tax

Plan Adoption

2/7/2024

2/6/2025

21,012

Yes

Timothy M. McKeon

Senior Vice President and Treasurer

Plan Adoption

2/7/2024

2/6/2025

48,521

Yes

Lawrence J. Pope

Executive Vice President of Administration and Chief Human Resources Officer

Plan Adoption

2/7/2024

2/6/2025

107,400

Yes

Mark J. Richard

President, Western Hemisphere

Plan Adoption

2/7/2024

2/6/2025

114,807

Yes

Jill D. Sharp

Senior Vice President, Internal Assurance Services

Plan Adoption

2/7/2024

2/6/2025

60,069

Yes

Shannon Slocum

President, Eastern Hemisphere

Plan Adoption

2/7/2024

2/6/2025

64,125

Yes

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

2/7/2024

Termination Date

2/6/2025

VHB [Member]

Trading Arrangements, by Individual

Name

Van H. Beckwith

Aggregate Available

221,141

Executive Vice President, Secretary and Chief Legal [Member]

Trading Arrangements, by Individual

Title

Executive Vice President, Secretary and Chief Legal Officer

EJC [Member]

Trading Arrangements, by Individual

Name

Eric J. Carre

Aggregate Available

309,428

Executive Vice President and Chief Financial Officer [Member]

Trading Arrangements, by Individual

Title

Executive Vice President and Chief Financial Officer

CEG [Member]

Trading Arrangements, by Individual

Name

Charles E. Geer, Jr

Aggregate Available

33,800

Senior Vice President and Chief Accounting Officer [Member]

Trading Arrangements, by Individual

Title

Senior Vice President and Chief Accounting Officer

MLJ [Member]

Trading Arrangements, by Individual

Name

Myrtle L. Jones

Aggregate Available

21,012

Senior Vice President, Tax [Member]

Trading Arrangements, by Individual

Title

Senior Vice President, Tax

TMM [Member]

Trading Arrangements, by Individual

Name

Timothy M. McKeon

Aggregate Available

48,521

Senior Vice President and Treasurer [Member]

Trading Arrangements, by Individual

Title

Senior Vice President and Treasurer

LJP [Member]

Trading Arrangements, by Individual

Name

Lawrence J. Pope

Aggregate Available

107,400

Executive Vice President of Administration and Chief Human Resources Officer [Member]

Trading Arrangements, by Individual

Title

Executive Vice President of Administration and Chief Human Resources Officer

MJR [Member]

Trading Arrangements, by Individual

Name

Mark J. Richard

Aggregate Available

114,807

President, Western Hemisphere [Member]

Trading Arrangements, by Individual

Title

President, Western Hemisphere

JDS [Member]

Trading Arrangements, by Individual

Name

Jill D. Sharp

Aggregate Available

60,069

Senior Vice President, Internal Assurance Services [Member]

Trading Arrangements, by Individual

Title

Senior Vice President, Internal Assurance Services

SS [Member]

Trading Arrangements, by Individual

Name

Shannon Slocum

Aggregate Available

64,125

President, Eastern Hemisphere [Member]

Trading Arrangements, by Individual

Title

President, Eastern Hemisphere

Business Segment and Geographic Information (Narrative) (Details)	Mar. 31, 2024 Division Customers	Dec. 31, 2023 Customers
Concentration Risk [Line Items]
Number of business segments \| Division	2
Maximum Percentage Gross Trade Receivables From One Customer	10.00%	10.00%
NumberOfCustomersExceedReceivablesThreshold \| Customers	0	0

Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Shareholders' equity activity [Roll Forward]

Beginning Balance

$ 9,433

$ 7,977

Net income (loss)

609

655

Other comprehensive income (loss)

Cash dividends

(151)

(145)

Stock Repurchased During Period, Value

(250)

(100)

Stock plans

Other

Ending Balance

$ 9,682

$ 8,445

Common Stock, Dividends, Per Share, Declared

$ 0.17

$ 0.16

Stock Repurchased During Period, Shares

7.0

2.9

Common Shares

Shareholders' equity activity [Roll Forward]

Beginning Balance

$ 2,663

$ 2,664

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

Stock plans

Other

Ending Balance

2,662

2,664

Paid-in Capital in Excess of Par Value

Shareholders' equity activity [Roll Forward]

Beginning Balance

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

Shareholders' equity activity [Roll Forward]

Beginning Balance

12,536

10,572

Net income (loss)

606

651

Other comprehensive income (loss)

Cash dividends

(151)

(145)

Stock Repurchased During Period, Value

Stock plans

^[1]

Other

Ending Balance

12,988

11,075

Accumulated Other Comprehensive Income (Loss)

Shareholders' equity activity [Roll Forward]

Beginning Balance

(331)

(230)

Net income (loss)

Other comprehensive income (loss)

(1)

Cash dividends

Stock Repurchased During Period, Value

Stock plans

Other

Ending Balance

(332)

(229)

Noncontrolling Interest in Consolidated Subsidiaries

Shareholders' equity activity [Roll Forward]

Beginning Balance

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

Stock plans

Other

Ending Balance

Treasury Stock, Common

Shareholders' equity activity [Roll Forward]

Beginning Balance

(5,540)

(5,108)

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

250

100

Stock plans

108

113

Other

Ending Balance

$ (5,682)

$ (5,095)

[1]

In the first quarter of 2024, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. As a result, additional paid in capital was reduced to zero, which resulted in a reduction of retained earnings by $3 million. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.

Payables and Accruals (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Outstanding Supplier Finance Payment Obligation	$ 325	$ 322

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 606	$ 651

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income (loss)	$ 609	$ 655
Other comprehensive income (loss), net of income taxes	0	1
Comprehensive income (loss)	609	656
Comprehensive (income) loss attributable to noncontrolling interest	(4)	(4)
Comprehensive income (loss) attributable to company shareholders	$ 605	$ 652

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various legal or governmental proceedings, claims or investigations, including personal injury, property damage, environmental, intellectual property, commercial, tax, and other matters arising in the ordinary course of business, the resolution of which, in the opinion of management, will not have a material adverse effect on our consolidated results of operations or consolidated financial position. There is inherent risk in any legal or governmental proceeding, claim or investigation, and no assurance can be given as to the outcome of these proceedings. Guarantee arrangements In the normal course of business, we have agreements with financial institutions under which approximately $2.6 billion of letters of credit, bank guarantees, or surety bonds were outstanding as of March 31, 2024. Some of the outstanding letters of credit have triggering events that would entitle a bank to require cash collateralization; however, none of these triggering events have occurred. As of March 31, 2024, we had no material off-balance sheet liabilities and were not required to make any material cash distributions to our unconsolidated subsidiaries.

Commitments and Contingencies (Guarantee Arrangements) (Details) $ in Billions	Mar. 31, 2024 USD ($)
Financial agreements
Guarantee arrangements [Abstract]
Guarantee arrangements outstanding	$ 2.6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 743	$ 742
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 12,218	$ 12,064

Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Revenue [Abstract]

Disaggregation of Revenue

The following table presents information on our disaggregated revenue.


	Three Months Ended March 31
Millions of dollars	2024		2023
Revenue by segment:
Completion and Production	$	3,373	$	3,409
Drilling and Evaluation	2,431		2,268
Total revenue	$	5,804	$	5,677
Revenue by geographic region:
North America	$	2,546	$	2,765
Latin America	1,108		915
Europe/Africa/CIS	729		662
Middle East/Asia	1,421		1,335
Total revenue	$	5,804	$	5,677

Revenue (Details) $ in Millions	3 Months Ended		12 Months Ended
Revenue (Details) $ in Millions	Mar. 31, 2024 USD ($) Division Customers	Mar. 31, 2023 USD ($)	Dec. 31, 2023 Customers
Disaggregation of Revenue [Line Items]
Number of business segments \| Division	2
Revenue	$ 5,804	$ 5,677
Revenue, Performance Obligation, Description of Timing	one year
NumberOfCustomersExceedReceivablesThreshold \| Customers	0		0
North America [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,546	2,765
Latin America [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,108	915
Europe/Africa/CIS [Member]
Disaggregation of Revenue [Line Items]
Revenue	729	662
Middle East/Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,421	1,335
Completion And Production [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,373	3,409
Drilling And Evaluation [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,431	$ 2,268
Minimum [Member]
Disaggregation of Revenue [Line Items]
Revenue, Performance Obligation, Description of Payment Terms	20
Maximum [Member]
Disaggregation of Revenue [Line Items]
Revenue, Performance Obligation, Description of Payment Terms	60
Revenue Benchmark [Member] \| UNITED STATES \| Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	42.00%	47.00%
Accounts Receivable [Member] \| UNITED STATES \| Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	32.00%		33.00%
Accounts Receivable [Member] \| MEXICO \| Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	10.00%		9.00%
Accounts Receivable [Member] \| MEXICO \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	8.00%		6.00%

Revenue (Policies)	3 Months Ended
Revenue (Policies)	Mar. 31, 2024
Revenue [Abstract]
Revenue Recognition, Policy	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. Most 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 historical payment experience with, and the financial condition of, our customers. 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.

Business Segment and Geographic Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure

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.

The following table presents information on our business segments.


		Three Months Ended March 31
Millions of dollars		2024		2023
Revenue:
Completion and Production		$	3,373	$	3,409
Drilling and Evaluation		2,431		2,268
Total revenue		$	5,804	$	5,677
Operating income:
Completion and Production		$	688	$	666
Drilling and Evaluation		398		369
Total operations		1,086		1,035
Corporate and other (a)		(65)		(58)
SAP S4 upgrade expense		(34)		—

Total operating income		$	987	$	977
Interest expense, net of interest income		(92)		(101)



Other, net (b)		(108)		(47)
Income before income taxes		$	787	$	829

(a)	Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions.

(b)	During the three months ended March 31, 2024, Halliburton incurred a charge of $82 million primarily due to impairment of an investment in Argentina and currency devaluation in Egypt.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Income (Loss) per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Income (Loss) per Share

Income per Share

Basic income or loss per share is based on the weighted average number of common shares outstanding during the period. Diluted income per share includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted income or loss per share as their impact was antidilutive.

A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows:


	Three Months Ended March 31
Millions of shares	2024	2023
Basic weighted average common shares outstanding	889	904
Dilutive effect of awards granted under our stock incentive plans	2	3
Diluted weighted average common shares outstanding	891	907

Antidilutive shares:
Options with exercise price greater than the average market price	11	14

Total antidilutive shares	11	14

Inventories (Tables)

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


Millions of dollars	March 31, 2024		December 31, 2023
Finished products and parts	$	2,098	$	2,069
Raw materials and supplies	1,019		1,021
Work in process	141		136
Total inventories	$	3,258	$	3,226

Payables and Accruals	3 Months Ended
Payables and Accruals	Mar. 31, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure	Accounts Payable Effective January 1, 2023, we adopted new supplier finance program disclosure requirements contained in guidance issued by the Financial Accounting Standards Board (ASU 2022-04, “Disclosure of Supplier Finance Program Obligations”). The standards update also includes a prospective annual requirement to disclose a rollforward of the amount of the obligations during the annual reporting period. We will include the rollforward disclosure in our Annual Report on Form 10-K for the year ending December 31, 2024, as required. We have agreements with third parties that allow our participating suppliers to finance payment obligations from us with designated third-party financial institutions who act as our paying agent. We have generally extended our payment terms with suppliers to 90 days. A participating supplier may request a participating financial institution to finance one or more of our payment obligations to such supplier prior to the scheduled due date thereof at a discounted price. We are not required to provide collateral to the financial institutions. Our obligations to participating suppliers, including amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to finance amounts due under these financing arrangements. Our outstanding payment obligations under these agreements were $325 million as of March 31, 2024, and $322 million as of December 31, 2023, and are included in accounts payable on the condensed consolidated balance sheets.

Income (Loss) per Share (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average common shares outstanding (in shares)	889	904
Dilutive effect of awards granted under our stock incentive plans	2	3
Diluted weighted average common shares outstanding (in shares)	891	907
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options with exercise price greater than the average market price	11	14
Total antidilutive shares	11	14

Business Segment and Geographic Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Revenue	$ 5,804	$ 5,677
Operating income (loss):
Operating income	987	977
Interest expense, net of interest income	(92)	(101)
Other, net	(108)	(47)
Income (loss) from continuing operations before income taxes	787	829
SAP S4 Upgrade Expense	(34)	0
Argentina investment impairment and Egypt Devaluation	(82)
Total operations
Operating income (loss):
Operating income	1,086	1,035
Completion and Production
Revenue:
Revenue	3,373	3,409
Completion and Production \| Total operations
Operating income (loss):
Operating income	688	666
Drilling and Evaluation
Revenue:
Revenue	2,431	2,268
Drilling and Evaluation \| Total operations
Operating income (loss):
Operating income	398	369
Corporate and Other [Member]
Operating income (loss):
Operating income	$ (65)	$ (58)

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Summary of shareholders' equity activity

The following tables summarize our shareholders’ equity activity for the three months ended March 31, 2024 and March 31, 2023, respectively:


Millions of dollars		Common Stock		Paid-in Capital in Excess of Par Value		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest in Consolidated Subsidiaries		Total
Balance at December 31, 2023		$	2,663	$	63	$	(5,540)	$	12,536	$	(331)	$	42	$	9,433
Comprehensive income (loss):
Net income		—		—		—		606		—		3		609
Other comprehensive income (loss)		—		—		—		—		(1)		1		—
Cash dividends ($0.17 per share)		—		—		—		(151)		—		—		(151)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		(1)		(63)		108		(3)		—		—		41
Other		—		—		—		—		—		—		—
Balance at March 31, 2024		$	2,662	$	—	$	(5,682)	$	12,988	$	(332)	$	46	$	9,682

















(a)	In the first quarter of 2024, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. As a result, additional paid in capital was reduced to zero, which resulted in a reduction of retained earnings by $3 million. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.


Millions of dollars		Common Stock		Paid-in Capital in Excess of Par Value		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest in Consolidated Subsidiaries		Total
Balance at December 31, 2022		$	2,664	$	50	$	(5,108)	$	10,572	$	(230)	$	29	$	7,977
Comprehensive income (loss):
Net income		—		—		—		651		—		4		655
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(145)		—		—		(145)
Stock repurchase program		—		—		(100)		—		—		—		(100)
Stock plans (a)		—		(50)		113		(3)		—		—		60
Other		—		—		—		—		—		(3)		(3)
Balance at March 31, 2023		$	2,664	$	—	$	(5,095)	$	11,075	$	(229)	$	30	$	8,445
















(a)	In the first quarter of 2023, we issued common stock from treasury shares for stock options exercised, restricted stock grants, performance shares under our performance unit program, and purchases under our employee stock purchase plan. As a result, additional paid in capital was reduced to zero, which resulted in a reduction of retained earnings by $3 million. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.

Schedule of comprehensive income (loss)

Accumulated other comprehensive loss consisted of the following:


Millions of dollars	March 31, 2024		December 31, 2023
Cumulative translation adjustments	$	(83)	$	(84)
Defined benefit and other postretirement liability adjustments	(210)		(207)

Other	(39)		(40)
Total accumulated other comprehensive loss	$	(332)	$	(331)

Business Segment and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Information on business segments

The following table presents information on our business segments.


		Three Months Ended March 31
Millions of dollars		2024		2023
Revenue:
Completion and Production		$	3,373	$	3,409
Drilling and Evaluation		2,431		2,268
Total revenue		$	5,804	$	5,677
Operating income:
Completion and Production		$	688	$	666
Drilling and Evaluation		398		369
Total operations		1,086		1,035
Corporate and other (a)		(65)		(58)
SAP S4 upgrade expense		(34)		—

Total operating income		$	987	$	977
Interest expense, net of interest income		(92)		(101)



Other, net (b)		(108)		(47)
Income before income taxes		$	787	$	829

(a)	Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions.

(b)	During the three months ended March 31, 2024, Halliburton incurred a charge of $82 million primarily due to impairment of an investment in Argentina and currency devaluation in Egypt.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three months ended March 31, 2024, we recorded a total income tax provision of $178 million on a pre-tax income of $787 million, resulting in an effective tax rate of 22.6% for the quarter. During the three months ended March 31, 2023, we recorded a total income tax provision of $174 million on a pre-tax income of $829 million, resulting in an effective tax rate of 21.0% for the quarter. Our tax returns are subject to review by the taxing authorities in the jurisdictions where we file tax returns. In most cases we are no longer subject to examination by tax authorities for years before 2012. The only significant operating jurisdiction that has tax filings under review or subject to examination by the tax authorities is the United States. The United States federal income tax filings for tax years 2016 through 2023 are currently under review or remain open for review by the IRS. As of March 31, 2024, the primary unresolved issue for the IRS audit for 2016 relates to the classification of the $3.5 billion ordinary deduction that we claimed for the termination fee we paid to Baker Hughes in the second quarter of 2016 for which we received a Notice of Proposed Adjustment (NOPA) from the IRS on September 28, 2023. We regularly assess the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of our tax reserves, and we believe our income tax reserves are appropriately provided for all open tax years. We do not expect a final resolution of this issue in the next 12 months. Based on the information currently available, we do not anticipate a significant increase or decrease to our tax contingencies within the next twelve months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 178	$ 174
Income (loss) from continuing operations before income taxes	$ 787	$ 829
Effective tax rate	22.60%	21.00%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements were prepared using United States generally accepted accounting principles (GAAP) 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 U.S. GAAP for annual financial statements and should be read together with our 2023 Annual Report on Form 10-K. Our accounting policies are in accordance with U.S. GAAP. 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 March 31, 2024 and the results of our operations for the three months ended March 31, 2024 and 2023, and our cash flows for the three months ended March 31, 2024 and 2023. 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 months ended March 31, 2024 may not be indicative of results for the full year.

Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


Millions of dollars	March 31, 2024		December 31, 2023
Finished products and parts	$	2,098	$	2,069
Raw materials and supplies	1,019		1,021
Work in process	141		136
Total inventories	$	3,258	$	3,226

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 609	$ 655
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation, depletion and amortization	263	241
Changes in assets and liabilities:
Receivables	(268)	(575)
Accounts payable	(41)	57
Inventories	(32)	(210)
Other operating activities	(44)	(46)
Total cash flows provided by operating activities	487	122
Cash flows from investing activities:
Capital expenditures	(330)	(268)
Proceeds from sales of property, plant and equipment	49	41
Other investing activities	(100)	(68)
Total cash flows used in investing activities	(381)	(295)
Cash flows from financing activities:
Dividends to shareholders	(151)	(145)
Payments for Repurchase of Common Stock	250	100
Other financing activities	(21)	(4)
Total cash flows used in financing activities	(422)	(249)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	(57)	(45)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(373)	(467)
Cash and equivalents at beginning of period	2,264	2,346	$ 2,346
Cash and equivalents at end of period			2,264
Cash and equivalents at end of period	1,891	1,879	$ 2,264
Cash payments during the period for:
Interest	118	127
Income taxes	$ 95	$ 148
Maximum Percentage Gross Trade Receivables From One Customer	10.00%		10.00%
UNITED STATES \| Accounts Receivable [Member] \| Geographic Concentration Risk [Member]
Cash payments during the period for:
Concentration Risk, Percentage	32.00%		33.00%
MEXICO \| Accounts Receivable [Member] \| Geographic Concentration Risk [Member]
Cash payments during the period for:
Concentration Risk, Percentage	10.00%		9.00%

Fair value by balance sheet grouping table (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amount and fair value of our total debt is as follows:


	March 31, 2024								December 31, 2023
Millions of dollars	Level 1		Level 2		Total fair value		Carrying value		Level 1		Level 2		Total fair value		Carrying value
Total debt	$	7,294	$	361	$	7,655	$	7,637	$	7,419	$	378	$	7,797	$	7,636

Impairments and Other Charges (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Operating lease right-of-use assets	$ 1,082	$ 1,088
Current portion of operating lease liabilities	$ 267	$ 262

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Shareholders' Equity Repurchase Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Repurchase Activity [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	$ 3,800
Treasury Stock Shares Acquired From Inception	260.0
Treasury Stock Value Acquired Cost Method From Inception	$ 10,300
Shareholders' Equity Activity Summarization [Line Items]
Stock Repurchased During Period, Shares	7.0	2.9
Stock Repurchased During Period, Value	$ (250)	$ (100)
Treasury Stock, Common
Shareholders' Equity Activity Summarization [Line Items]
Stock Repurchased During Period, Value	$ 250	$ 100

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of days from period end	2 days
Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 7,655	$ 7,797
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	7,637	7,636
Level 1 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	7,294	7,419
Level 2 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	361	378
Level 3 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 0	$ 0

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents	$ 1,891	$ 2,264
Receivables net of allowances for bad debts	5,103	4,860
Inventories	3,258	3,226
Other current assets	1,171	1,193
Total current assets	11,423	11,543
Property, Plant and Equipment, Net	4,973	4,900
Goodwill	2,850	2,850
Deferred income taxes	2,472	2,505
Operating lease right-of-use assets	1,082	1,088
Other assets	1,854	1,797
Total assets	24,654	24,683
Current liabilities:
Accounts payable	3,092	3,147
Accrued employee compensation and benefits	542	689
Accrual for Taxes Other than Income Taxes, Current	311	370
Current portion of operating lease liabilities	267	262
Other current liabilities	739	750
Total current liabilities	5,379	5,608
Long-term debt	7,637	7,636
Operating lease liabilities	883	911
Employee compensation and benefits	381	408
Other liabilities	692	687
Total liabilities	14,972	15,250
Shareholders' equity:
Common stock, par value $2.50 per share	$ 2,662	$ 2,663
Common stock, par value (in dollars per share)	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	2,000	2,000
Common stock, shares issued (in shares)	1,065	1,065
Paid-in capital in excess of par value	$ 0	$ 63
Accumulated other comprehensive loss	(332)	(331)
Retained earnings	12,988	12,536
Treasury stock, at cost	$ (5,682)	$ (5,540)
Treasury shares (in shares)	180	176
Company shareholders' equity	$ 9,636	$ 9,391
Noncontrolling interest in consolidated subsidiaries	46	42
Total shareholders' equity	9,682	9,433
Total liabilities and shareholders' equity	24,654	24,683
Accrued Income Taxes, Current	$ 428	$ 390
UNITED STATES \| Revenue Benchmark [Member] \| Geographic Concentration Risk [Member]
Shareholders' equity:
Concentration Risk, Percentage	42.00%

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished products and parts	$ 2,098	$ 2,069
Raw materials and supplies	1,019	1,021
Work in process	141	136
Inventory, net	$ 3,258	$ 3,226

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The carrying amount of cash and equivalents, receivables, and accounts payable, as reflected in the condensed consolidated balance sheets, approximates fair value due to the short maturities of these instruments.

The carrying amount and fair value of our total debt is as follows:


	March 31, 2024								December 31, 2023
Millions of dollars	Level 1		Level 2		Total fair value		Carrying value		Level 1		Level 2		Total fair value		Carrying value
Total debt	$	7,294	$	361	$	7,655	$	7,637	$	7,419	$	378	$	7,797	$	7,636

In the first three months of 2024, the fair value of our total debt decreased as a result of higher bond yields.

Our debt categorized within level 1 on the fair value hierarchy is calculated using quoted prices in active markets for identical liabilities with transactions occurring on the last two days of period-end. Our debt categorized within level 2 on the fair value hierarchy is calculated using significant observable inputs for similar liabilities where estimated values are determined from observable data points on our other bonds and on other similarly rated corporate debt or from observable data points of transactions occurring prior to two days from period-end and adjusting for changes in market conditions. Differences between the periods presented in our level 1 and level 2 classification of our long-term debt relate to the timing of when third party market transactions on our debt are executed. We have no debt categorized within level 3 on the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenue

3 Months Ended

Mar. 31, 2024

Revenue [Abstract]

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. Most 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 historical payment experience with, and the financial condition of, our customers. 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, 42% and 47% of our consolidated revenue was from the United States for the three months ended March 31, 2024 and 2023, respectively. No other country accounted for more than 10% of our revenue for those periods.

The following table presents information on our disaggregated revenue.


	Three Months Ended March 31
Millions of dollars	2024		2023
Revenue by segment:
Completion and Production	$	3,373	$	3,409
Drilling and Evaluation	2,431		2,268
Total revenue	$	5,804	$	5,677
Revenue by geographic region:
North America	$	2,546	$	2,765
Latin America	1,108		915
Europe/Africa/CIS	729		662
Middle East/Asia	1,421		1,335
Total revenue	$	5,804	$	5,677

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 the duration of the contract 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 March 31, 2024, 32% of our net trade receivables were from customers in the United States and 10% were from customers in Mexico. As of December 31, 2023, 33% of our net trade receivables were from customers in the United States and 9% were from customers in Mexico. Receivables from our primary customer in Mexico accounted for approximately 8% and 6% of our total receivables as of March 31, 2024 and December 31, 2023, respectively. While we have experienced payment delays from our primary customer in Mexico, the amounts are not in dispute and we have not historically had, and we do not expect, any material write-offs due to collectability of receivables from this customer. No country other than the United States or single customer accounted for more than 10% of our net trade receivables at those dates.

We have risk of delayed customer payments and payment defaults associated with customer liquidity issues. 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 judgment and estimates, includes analysis of our customers’ historical time to pay, financial condition and various financial metrics, debt structure, credit ratings, and production profile, as well as political and economic factors in countries of operations and other customer-specific factors.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Income (Loss) per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Weighted average shares outstanding and antidilutive shares

A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows:


	Three Months Ended March 31
Millions of shares	2024	2023
Basic weighted average common shares outstanding	889	904
Dilutive effect of awards granted under our stock incentive plans	2	3
Diluted weighted average common shares outstanding	891	907

Antidilutive shares:
Options with exercise price greater than the average market price	11	14

Total antidilutive shares	11	14

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 17, 2024
Document And Enity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Entity File Number	001-03492
Entity Registrant Name	HALLIBURTON COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2677995
Entity Address, Address Line One	3000 North Sam Houston Parkway East,
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77032
City Area Code	281
Local Phone Number	871-2699
Title of 12(b) Security	Common Stock, par value $2.50 per share
Trading Symbol	HAL
Security Exchange Name	NYSE
Entity Central Index Key	0000045012
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		885,301,252
Entity Emerging Growth Company	false

Shareholders' Equity (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Defined benefit and other postretirement liability adjustments	$ (210)	$ (207)
Cumulative translation adjustments	(83)	(84)
Other	(39)	(40)
Total accumulated other comprehensive loss	$ (332)	$ (331)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Revenue	$ 5,804	$ 5,677
Operating costs and expenses:
SAP S4 Upgrade Expense	34	0
General and administrative	61	54
Total operating costs and expenses	4,817	4,700
Operating income	987	977
Interest expense, net of interest income	(92)	(101)
Other, net	(108)	(47)
Income (loss) from continuing operations before income taxes	787	829
Income tax (provision) benefit	(178)	(174)
Net income (loss)	609	655
Net (income) loss attributable to noncontrolling interest	(3)	(4)
Net income (loss) attributable to company	$ 606	$ 651
Earnings Per Share, Basic	$ 680,000	$ 720,000
Earnings Per Share, Diluted	$ 680,000	$ 720,000
Weighted Average Number of Shares Outstanding, Basic	889	904
Weighted Average Number of Shares Outstanding, Diluted	891	907
MEXICO \| Accounts Receivable [Member] \| Customer Concentration Risk
Operating costs and expenses:
Concentration Risk, Percentage	8.00%
Noncontrolling Interest in Consolidated Subsidiaries
Operating costs and expenses:
Net income (loss)	$ 3	$ 4
Services [Member]
Revenue:
Revenue	4,146	4,166
Operating costs and expenses:
Cost of services and sales	3,428	3,399
Product sales [Member]
Revenue:
Revenue	1,658	1,511
Operating costs and expenses:
Cost of services and sales	$ 1,294	$ 1,247