0000045012-24-000063 | 10-Q | XBRL Viewer

Shareholders' Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Shareholders’ Equity

The following tables summarize our shareholders’ equity activity for the three and nine months ended September 30, 2024 and September 30, 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
Comprehensive income (loss):
Net income		—		—		—		709		—		4		713
Other comprehensive income (loss)		—		—		—		—		—		—		—
Cash dividends ($0.17 per share)		—		—		—		(151)		—		—		(151)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		1		—		151		(96)		—		—		56
Other		—		—		—		—		—		(4)		(4)
Balance at June 30, 2024		$	2,663	$	—	$	(5,781)	$	13,450	$	(332)	$	46	$	10,046
Comprehensive income (loss):
Net income		—		—		—		571		—		9		580
Other comprehensive income		—		—		—		—		3		—		3
Cash dividends ($0.17 per share)		—		—		—		(150)		—		—		(150)
Stock repurchase program		—		—		(196)		—		—		—		(196)
Stock plans (a)		(1)		38		37		(6)		—		—		68
Other		—		—		—		—		—		1		1
Balance at September 30, 2024		$	2,662	$	38	$	(5,940)	$	13,865	$	(329)	$	56	$	10,352

(a)	In the first, second, and third 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, $96 million, and $6 million, respectively. 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
Comprehensive income (loss):
Net income		—		—		—		610		—		6		616
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(144)		—		—		(144)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		(1)		—		144		(82)		—		—		61
Other		—		—		—		—		—		(2)		(2)
Balance at June 30, 2023		$	2,663	$	—	$	(5,201)	$	11,459	$	(228)	$	34	$	8,727
Comprehensive income (loss):
Net income		—		—		—		716		—		8		724
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(144)		—		—		(144)
Stock repurchase program		—		—		(200)		—		—		—		(200)
Stock plans (a)		—		26		71		(13)		—		—		84
Other		—		—		—		—		—		(3)		(3)
Balance at September 30, 2023		$	2,663	$	26	$	(5,330)	$	12,018	$	(227)	$	39	$	9,189

(a)	In the first, second, and third quarters 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, $82 million, and $13 million, respectively. 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 6.2 million shares of our common stock under the program during the three months ended September 30, 2024 for $196 million. Approximately $3.4 billion remained authorized for repurchases under the program as of September 30, 2024. From the inception of this program in February of 2006 through September 30, 2024, we repurchased 273 million shares of our common stock for a total cost of approximately $10.8 billion. We repurchased 5.1 million shares of our common stock under the program during the three months ended September 30, 2023 for approximately $200 million.

Accumulated other comprehensive loss consisted of the following:


Millions of dollars	September 30, 2024		December 31, 2023
Cumulative translation adjustments	$	(82)	$	(84)
Defined benefit and other postretirement liability adjustments	(209)		(207)

Other	(38)		(40)
Total accumulated other comprehensive loss	$	(329)	$	(331)

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

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 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Summary of shareholders' equity activity

The following tables summarize our shareholders’ equity activity for the three and nine months ended September 30, 2024 and September 30, 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
Comprehensive income (loss):
Net income		—		—		—		709		—		4		713
Other comprehensive income (loss)		—		—		—		—		—		—		—
Cash dividends ($0.17 per share)		—		—		—		(151)		—		—		(151)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		1		—		151		(96)		—		—		56
Other		—		—		—		—		—		(4)		(4)
Balance at June 30, 2024		$	2,663	$	—	$	(5,781)	$	13,450	$	(332)	$	46	$	10,046
Comprehensive income (loss):
Net income		—		—		—		571		—		9		580
Other comprehensive income		—		—		—		—		3		—		3
Cash dividends ($0.17 per share)		—		—		—		(150)		—		—		(150)
Stock repurchase program		—		—		(196)		—		—		—		(196)
Stock plans (a)		(1)		38		37		(6)		—		—		68
Other		—		—		—		—		—		1		1
Balance at September 30, 2024		$	2,662	$	38	$	(5,940)	$	13,865	$	(329)	$	56	$	10,352

(a)	In the first, second, and third 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, $96 million, and $6 million, respectively. 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
Comprehensive income (loss):
Net income		—		—		—		610		—		6		616
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(144)		—		—		(144)
Stock repurchase program		—		—		(250)		—		—		—		(250)
Stock plans (a)		(1)		—		144		(82)		—		—		61
Other		—		—		—		—		—		(2)		(2)
Balance at June 30, 2023		$	2,663	$	—	$	(5,201)	$	11,459	$	(228)	$	34	$	8,727
Comprehensive income (loss):
Net income		—		—		—		716		—		8		724
Other comprehensive income		—		—		—		—		1		—		1
Cash dividends ($0.16 per share)		—		—		—		(144)		—		—		(144)
Stock repurchase program		—		—		(200)		—		—		—		(200)
Stock plans (a)		—		26		71		(13)		—		—		84
Other		—		—		—		—		—		(3)		(3)
Balance at September 30, 2023		$	2,663	$	26	$	(5,330)	$	12,018	$	(227)	$	39	$	9,189

(a)	In the first, second, and third quarters 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, $82 million, and $13 million, respectively. 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	September 30, 2024		December 31, 2023
Cumulative translation adjustments	$	(82)	$	(84)
Defined benefit and other postretirement liability adjustments	(209)		(207)

Other	(38)		(40)
Total accumulated other comprehensive loss	$	(329)	$	(331)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Cash flows from operating activities:

Net income (loss)

$ 609

$ 655

$ 1,902

$ 1,995

Adjustments to reconcile net income (loss) to net cash flows from operating activities:

Depreciation, depletion and amortization

804

742

Changes in assets and liabilities:

Receivables

(516)

(522)

Accounts payable

(145)

137

Inventories

(413)

Other operating activities

232

109

Total cash flows provided by operating activities

2,409

2,048

Cash flows from investing activities:

Capital expenditures

(1,016)

(980)

Payments to Acquire Marketable Securities

(320)

(301)

Proceeds from sales of property, plant and equipment

149

136

Other investing activities

(160)

(91)

Total cash flows used in investing activities

(1,210)

(1,124)

Cash flows from financing activities:

Dividends to shareholders

(452)

(433)

Repayments of Long-term Debt

(150)

Payments for Repurchase of Common Stock

696

546

Other financing activities

(37)

Total cash flows used in financing activities

(1,185)

(1,127)

Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations

(100)

(107)

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total

(86)

(310)

Cash and equivalents at beginning of period

$ 2,264

$ 2,346

2,264

2,346

$ 2,346

Cash and equivalents at end of period

2,264

Cash and equivalents at end of period

2,178

2,036

$ 2,264

Cash payments during the period for:

Interest

336

355

Income taxes

$ 369

528

Maximum Percentage Gross Trade Receivables From One Customer

10.00%

Proceeds from Sale and Maturity of Marketable Securities

$ 137

112

Impairments and other charges

^[1]

$ 116

$ 0

UNITED STATES | Accounts Receivable [Member] | Geographic Concentration Risk [Member]

Cash payments during the period for:

Concentration Risk, Percentage

30.00%

33.00%

MEXICO | Accounts Receivable [Member] | Geographic Concentration Risk [Member]

Cash payments during the period for:

Concentration Risk, Percentage

12.00%

9.00%

[1]

For the three and nine months ended September 30, 2024, the amount includes a $45 million charge attributable to Completion and Production, a $34 million charge attributable to Drilling and Evaluation, and a $37 million charge attributable to Corporate and other. See Note 2 for further discussion on impairments and other charges.

Business Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Information on business segments

The following table presents information on our business segments.


		Three Months Ended September 30,				Nine Months Ended September 30,
Millions of dollars		2024		2023		2024		2023
Revenue:
Completion and Production		$	3,299	$	3,487	$	10,073	$	10,372
Drilling and Evaluation		2,398		2,317		7,261		6,907
Total revenue		$	5,697	$	5,804	$	17,334	$	17,279
Operating income:
Completion and Production		$	669	$	746	$	2,080	$	2,119
Drilling and Evaluation		406		378		1,207		1,123
Total operations		1,075		1,124		3,287		3,242
Corporate and other (a)		(60)		(64)		(190)		(181)
SAP S4 upgrade expense		(28)		(23)		(91)		(36)
Impairments and other charges (b)		(116)		—		(116)		—
Total operating income		$	871	$	1,037	$	2,890	$	3,025
Interest expense, net of interest income		(85)		(94)		(269)		(297)
Loss on Blue Chip Swap transactions (c)		—		—		—		(104)


Other, net (d)		(52)		(27)		(180)		(96)
Income before income taxes		$	734	$	916	$	2,441	$	2,528

(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)	For the three and nine months ended September 30, 2024, the amount includes a $45 million charge attributable to Completion and Production, a $34 million charge attributable to Drilling and Evaluation, and a $37 million charge attributable to Corporate and other. See Note 2 for further discussion on impairments and other charges.
(c)	The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations. Our execution of certain trades, known as Blue Chip Swaps, which effectively results in a parallel U.S. dollar exchange rate, resulted in a $104 million pre-tax loss during the nine months ended September 30, 2023.

(d)	During the nine months ended September 30, 2024, Halliburton incurred a charge of $82 million primarily due to the impairment of an investment in Argentina and currency devaluation in Egypt.

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

3 Months Ended

9 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Shareholders' equity activity [Roll Forward]

Beginning Balance

$ 10,046

$ 9,682

$ 9,433

$ 8,727

$ 8,445

$ 7,977

$ 9,433

$ 7,977

Net income (loss)

580

713

609

724

616

655

1,902

1,995

Other comprehensive income (loss)

Cash dividends

(150)

(151)

(144)

(145)

Stock Repurchased During Period, Value

(196)

(250)

(200)

(250)

(100)

Stock plans

(68)

(56)

(41)

(84)

(61)

(60)

Other

(1)

Ending Balance

$ 10,352

$ 10,046

$ 9,682

$ 9,189

$ 8,727

$ 8,445

10,352

9,189

Common Stock, Dividends, Per Share, Declared

$ 0.17

$ 0.16

Stock Repurchased During Period, Shares

6.2

5.1

Common Shares

Shareholders' equity activity [Roll Forward]

Beginning Balance

$ 2,663

$ 2,662

$ 2,663

$ 2,664

2,663

2,664

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

Stock plans

(1)

Other

Ending Balance

2,662

2,663

2,662

2,663

2,664

2,662

2,663

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

Stock plans

(38)

(63)

(26)

(50)

Other

Ending Balance

Retained Earnings

Shareholders' equity activity [Roll Forward]

Beginning Balance

13,450

12,988

12,536

11,459

11,075

10,572

12,536

10,572

Net income (loss)

571

709

606

716

610

651

Other comprehensive income (loss)

Cash dividends

(150)

(151)

(144)

(145)

Stock Repurchased During Period, Value

Stock plans

(6)

(96)

^[1]

(3)

^[1]

(13)

(82)

^[2]

(3)

^[2]

Other

Ending Balance

13,865

13,450

12,988

12,018

11,459

11,075

13,865

12,018

Accumulated Other Comprehensive Income (Loss)

Shareholders' equity activity [Roll Forward]

Beginning Balance

(332)

(331)

(228)

(229)

(230)

(331)

(230)

Net income (loss)

Other comprehensive income (loss)

(1)

Cash dividends

Stock Repurchased During Period, Value

Stock plans

Other

Ending Balance

(329)

(332)

(227)

(228)

(229)

(329)

(227)

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

(1)

Ending Balance

Treasury Stock, Common

Shareholders' equity activity [Roll Forward]

Beginning Balance

(5,781)

(5,682)

(5,540)

(5,201)

(5,095)

(5,108)

(5,540)

(5,108)

Net income (loss)

Other comprehensive income (loss)

Cash dividends

Stock Repurchased During Period, Value

196

250

200

250

100

Stock plans

(37)

(151)

(108)

(71)

(144)

(113)

Other

Ending Balance

$ (5,940)

$ (5,781)

$ (5,682)

$ (5,330)

$ (5,201)

$ (5,095)

$ (5,940)

$ (5,330)

[1]

In the first, second, and third 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, $96 million, and $6 million, respectively. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.

[2]

In the first, second, and third quarters 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, $82 million, and $13 million, respectively. Future issuances from treasury shares could similarly impact additional paid in capital and retained earnings.

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 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:


	September 30, 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	$	7,711	$	101	$	7,812	$	7,639	$	7,419	$	378	$	7,797	$	7,636

In the first nine months of 2024, the fair value of our total debt increased as a result of lower 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three months ended September 30, 2024, we recorded a total income tax provision of $154 million, which included a partial release of a valuation allowance on our deferred tax assets in the amount of $41 million, on a pre-tax income of $734 million, resulting in an effective tax rate of 21.0% for the quarter. During the three months ended September 30, 2023, we recorded a total income tax provision of $192 million on a pre-tax income of $916 million, resulting in an effective tax rate of 21.0% for the quarter. During the nine months ended September 30, 2024, we recorded a total income tax provision of $539 million, which included a partial release of a valuation allowance on our deferred tax assets in the amount of $41 million, on a pre-tax income of $2.4 billion, resulting in an effective tax rate of 22.1% for the period. During the nine months ended September 30, 2023, we recorded a total income tax provision of $533 million on a pre-tax income of $2.5 billion, resulting in an effective tax rate of 21.1% for the period. 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 Internal Revenue Service (the IRS). As of September 30, 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 twelve 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 tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Revenue (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
Revenue (Details) $ in Millions	Sep. 30, 2024 USD ($) Division Customers	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Division Customers	Sep. 30, 2023 USD ($)	Dec. 31, 2023 Customers
Disaggregation of Revenue [Line Items]
Number of business segments \| Division	2		2
Revenue	$ 5,697	$ 5,804	$ 17,334	$ 17,279
Revenue, Performance Obligation, Description of Timing			one year
NumberOfCustomersExceedReceivablesThreshold \| Customers	0		0		0
North America [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,386	2,608	$ 7,413	8,069
Latin America [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,053	1,048	3,258	2,957
Europe/Africa/CIS [Member]
Disaggregation of Revenue [Line Items]
Revenue	722	734	2,208	2,094
Middle East/Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,536	1,414	4,455	4,159
Completion And Production [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,299	3,487	10,073	10,372
Drilling And Evaluation [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,398	$ 2,317	$ 7,261	$ 6,907
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			41.00%	45.00%
Accounts Receivable [Member] \| UNITED STATES \| Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage			30.00%		33.00%
Accounts Receivable [Member] \| MEXICO \| Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage			12.00%		9.00%
Accounts Receivable [Member] \| MEXICO \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage			10.00%		6.00%

Impairments and Other Charges (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Restructuring Cost and Reserve [Line Items]

Operating lease right-of-use assets

$ 1,001

$ 1,088

Current portion of operating lease liabilities

251

$ 262

Gain (Loss) on Investments

(43)

Other

Impairments and other charges

^[1]

116

$ 0

116

$ 0

Severance costs

Impairment Charge on Reclassified Assets

Self Insurance Reserve, Current

Completion And Production [Member]

Restructuring Cost and Reserve [Line Items]

Impairments and other charges

Drilling And Evaluation [Member]

Restructuring Cost and Reserve [Line Items]

Impairments and other charges

Corporate Segment and Other Operating Segment [Member]

Restructuring Cost and Reserve [Line Items]

Impairments and other charges

$ 37

[1]

Impairments and Other Charges

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Impairments and Other Charges

The following table presents various pre-tax charges we recorded during the three and nine months ended September 30, 2024, which are reflected within “Impairments and other charges” on our condensed consolidated statements of operations.


	Three Months Ended September 30,		Nine Months Ended September 30,
Millions of dollars	2024			2024

Severance	$	63		$	63
Impairment of assets held for sale	49			49
Cybersecurity incident	35			35



Gain on equity investment	(43)			(43)
Other	12			12
Total impairments and other charges	$	116		$	116

Of the $116 million net charges recorded during the three and nine months ended September 30, 2024, $45 million was attributable to our Completion and Production segment, $34 million was attributable to our Drilling and Evaluation segment, and $37 million was attributable to Corporate and other.

During the three months ended September 30, 2024, we recorded $63 million in severance expense as we rationalized global headcount to reflect growth expectations.

During the third quarter of 2024, we recorded a $49 million impairment associated with a strategic decision to market for sale a portion of our chemical business.

As disclosed within our Form 8-Ks filed on August 23, 2024, and September 3, 2024, we became aware that an unauthorized third party gained access to certain of our systems. As a result, we incurred $35 million in expenses during the three months ended September 30, 2024 related to the engagement of external advisors to assess and remediate the effects of the activity, and restore our systems, as well as legal fees, payroll related costs, and other expenses.

Additionally, we recognized a gain of $43 million related to a fair value adjustment on an equity investment during the three months ended September 30, 2024.

During the three and nine months ended September 30, 2023, there were no amounts recorded in impairments and other charges.

Shareholders' Equity (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Defined benefit and other postretirement liability adjustments	$ (209)	$ (207)
Cumulative translation adjustments	(82)	(84)
Other	(38)	(40)
Total accumulated other comprehensive loss	$ (329)	$ (331)

- Definition

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

+ References + Details

Business Segment and Geographic Information (Narrative) (Details)	Sep. 30, 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

Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


Millions of dollars	September 30, 2024		December 31, 2023
Finished products and parts	$	1,987	$	2,069
Raw materials and supplies	1,063		1,021
Work in process	144		136
Total inventories	$	3,194	$	3,226

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished products and parts	$ 1,987	$ 2,069
Raw materials and supplies	1,063	1,021
Work in process	144	136
Inventory, net	$ 3,194	$ 3,226

Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Revenue [Abstract]

Disaggregation of Revenue

The following table presents information on our disaggregated revenue.


	Three Months Ended September 30,				Nine Months Ended September 30,
Millions of dollars	2024		2023		2024		2023
Revenue by segment:
Completion and Production	$	3,299	$	3,487	$	10,073	$	10,372
Drilling and Evaluation	2,398		2,317		7,261		6,907
Total revenue	$	5,697	$	5,804	$	17,334	$	17,279
Revenue by geographic region:
North America	$	2,386	$	2,608	$	7,413	$	8,069
Latin America	1,053		1,048		3,258		2,957
Europe/Africa/CIS	722		734		2,208		2,094
Middle East/Asia	1,536		1,414		4,455		4,159
Total revenue	$	5,697	$	5,804	$	17,334	$	17,279

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income	$ 28	$ 24	$ 72	$ 59

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)	$ 580	$ 724	$ 1,902	$ 1,995
Other comprehensive income (loss), net of income taxes	3	1	3	3
Comprehensive income (loss)	583	725	1,905	1,998
Comprehensive (income) loss attributable to noncontrolling interest	(9)	(8)	(17)	(18)
Comprehensive income (loss) attributable to company shareholders	$ 574	$ 717	$ 1,888	$ 1,980

- Definition

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

+ References

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-Name Accounting Standards Codification
-Section 45
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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.

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

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+ Details

Payables and Accruals (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Outstanding Supplier Finance Payment Obligation	$ 321	$ 322
Supplier Finance Program [Line Items]
Supplier Finance Program, Payment Timing, Period	90 days

Commitments and Contingencies (Guarantee Arrangements) (Details) $ in Billions	Sep. 30, 2024 USD ($)
Financial agreements
Guarantee arrangements [Abstract]
Guarantee arrangements outstanding	$ 2.6

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 31, 2024
Document And Enity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 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	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		878,501,985
Entity Emerging Growth Company	false

Impairments and Other Charges (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Impairments and Other Charges


	Three Months Ended September 30,		Nine Months Ended September 30,
Millions of dollars	2024			2024

Severance	$	63		$	63
Impairment of assets held for sale	49			49
Cybersecurity incident	35			35



Gain on equity investment	(43)			(43)
Other	12			12
Total impairments and other charges	$	116		$	116

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 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 September 30, 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 September 30, 2024, we had no material off-balance sheet liabilities and were not required to make any material cash distributions to our unconsolidated subsidiaries.

Inventories (Tables)

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


Millions of dollars	September 30, 2024		December 31, 2023
Finished products and parts	$	1,987	$	2,069
Raw materials and supplies	1,063		1,021
Work in process	144		136
Total inventories	$	3,194	$	3,226

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 756	$ 742
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 12,431	$ 12,064

Shareholders' Equity Repurchase Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Repurchase Activity [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	$ 3,400
Treasury Stock Shares Acquired From Inception	273.0
Treasury Stock Value Acquired Cost Method From Inception	$ 10,800
Shareholders' Equity Activity Summarization [Line Items]
Stock Repurchased During Period, Shares	6.2			5.1
Stock Repurchased During Period, Value	$ (196)	$ (250)	$ (250)	$ (200)	$ (250)	$ (100)
Treasury Stock, Common
Shareholders' Equity Activity Summarization [Line Items]
Stock Repurchased During Period, Value	$ 196	$ 250	$ 250	$ 200	$ 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

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 154	$ 192	$ 539	$ 533
Income (loss) from continuing operations before income taxes	$ 734	$ 916	$ 2,441	$ 2,528
Effective tax rate	21.00%	21.00%	22.10%	21.10%
2016 Baker Hughes Merger Termination Fee	$ 3,500		$ 3,500
Valuation Allowance [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 41		$ 41

- 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.

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+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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+ Details

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Revenue:

Revenue

$ 5,697

$ 5,804

$ 17,334

$ 17,279

Operating costs and expenses:

SAP S4 Upgrade Expense

General and administrative

178

166

Total operating costs and expenses

4,826

4,767

14,444

14,254

Operating income

871

1,037

2,890

3,025

Interest expense, net of interest income

(85)

(94)

(269)

(297)

Other, net

(52)

(27)

(180)

(96)

Income (loss) from continuing operations before income taxes

734

916

2,441

2,528

Income tax (provision) benefit

(154)

(192)

(539)

(533)

Net income (loss)

580

724

1,902

1,995

Net (income) loss attributable to noncontrolling interest

(9)

(8)

(16)

(18)

Net income (loss) attributable to company

$ 571

$ 716

$ 1,886

$ 1,977

Earnings Per Share, Basic

$ 650,000

$ 800,000

$ 2,130,000

$ 2,190,000

Earnings Per Share, Diluted

$ 650,000

$ 790,000

$ 2,130,000

$ 2,190,000

Weighted Average Number of Shares Outstanding, Basic

881

898

885

901

Weighted Average Number of Shares Outstanding, Diluted

881

902

886

904

Impairments and other charges

^[1]

$ 116

$ 0

$ 116

$ 0

Gain (loss) on Blue Chip Swap transactions

$ 0

104

MEXICO | Accounts Receivable [Member] | Customer Concentration Risk

Operating costs and expenses:

Concentration Risk, Percentage

10.00%

Noncontrolling Interest in Consolidated Subsidiaries

Operating costs and expenses:

Net income (loss)

Services [Member]

Revenue:

Revenue

4,093

4,131

$ 12,454

12,478

Operating costs and expenses:

Cost of services and sales

3,361

3,349

10,206

10,152

Product sales [Member]

Revenue:

Revenue

1,604

1,673

4,880

4,801

Operating costs and expenses:

Cost of services and sales

$ 1,266

$ 1,337

$ 3,853

$ 3,900

[1]

Income (Loss) per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average common shares outstanding (in shares)	881	898	885	901
Dilutive effect of awards granted under our stock incentive plans	0	4	1	3
Diluted weighted average common shares outstanding (in shares)	881	902	886	904
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options with exercise price greater than the average market price	9	11	10	13
Total antidilutive shares	9	11	10	13

Payables and Accruals	9 Months Ended
Payables and Accruals	Sep. 30, 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 supplier finance program 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 $321 million as of September 30, 2024, and $322 million as of December 31, 2023, and are included in accounts payable on the condensed consolidated balance sheets.

Fair value by balance sheet grouping table (Tables)

9 Months Ended

Sep. 30, 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:


	September 30, 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	$	7,711	$	101	$	7,812	$	7,639	$	7,419	$	378	$	7,797	$	7,636

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Aug. 05, 2024	Dec. 31, 2023	Dec. 26, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of days from period end	2 days
CDS Contract A
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Derivative, Term	17 months
Derivative, Notional Amount	$ 217			$ 300
CDS Contract B
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Derivative, Term	21 months
Derivative, Notional Amount	$ 235	$ 256
Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	7,812		$ 7,797
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Long-term and Short-term, Combined Amount	7,639		7,636
Level 1 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	7,711		7,419
Level 2 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	101		378
Level 3 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 0		$ 0

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 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 (U.S. 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 September 30, 2024, the results of our operations for the three and nine months ended September 30, 2024 and 2023, and our cash flows for the nine months ended September 30, 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 and nine months ended September 30, 2024 may not be indicative of results for the full year.

Income (Loss) per Share (Tables)

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
Millions of shares	2024	2023	2024	2023
Basic weighted average common shares outstanding	881	898	885	901
Dilutive effect of awards granted under our stock incentive plans	—	4	1	3
Diluted weighted average common shares outstanding	881	902	886	904

Antidilutive shares:
Options with exercise price greater than the average market price	9	11	10	13

Total antidilutive shares	9	11	10	13

Revenue (Policies)	9 Months Ended
Revenue (Policies)	Sep. 30, 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 (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Revenue:

Revenue

$ 5,697

$ 5,804

$ 17,334

$ 17,279

Operating income (loss):

Operating income

871

1,037

2,890

3,025

Interest expense, net of interest income

(85)

(94)

(269)

(297)

Other, net

(52)

(27)

(180)

(96)

Income (loss) from continuing operations before income taxes

734

916

2,441

2,528

SAP S4 Upgrade Expense

(28)

(23)

(91)

(36)

Argentina investment impairment and Egypt Devaluation

(82)

Impairments and other charges

^[1]

116

Total operations

Operating income (loss):

Gross Profit

1,075

1,124

3,287

3,242

Completion and Production

Revenue:

Revenue

3,299

3,487

10,073

10,372

Operating income (loss):

Impairments and other charges

Completion and Production | Total operations

Operating income (loss):

Gross Profit

669

746

2,080

2,119

Drilling and Evaluation

Revenue:

Revenue

2,398

2,317

7,261

6,907

Operating income (loss):

Impairments and other charges

Drilling and Evaluation | Total operations

Operating income (loss):

Gross Profit

406

378

1,207

1,123

Corporate Segment and Other Operating Segment [Member]

Operating income (loss):

Other General Expense

(60)

$ (64)

(190)

$ (181)

Impairments and other charges

$ 37

[1]

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents	$ 2,178	$ 2,264
Receivables net of allowances for bad debts	5,339	4,860
Inventories	3,194	3,226
Other current assets	1,332	1,193
Total current assets	12,043	11,543
Property, Plant and Equipment, Net	4,945	4,900
Goodwill	2,838	2,850
Deferred income taxes	2,446	2,505
Operating lease right-of-use assets	1,001	1,088
Other assets	2,058	1,797
Total assets	25,331	24,683
Current liabilities:
Accounts payable	3,009	3,147
Accrued employee compensation and benefits	690	689
Accrual for Taxes Other than Income Taxes, Current	281	370
Current portion of operating lease liabilities	251	262
Other current liabilities	747	750
Total current liabilities	5,460	5,608
Long-term debt	7,639	7,636
Operating lease liabilities	805	911
Employee compensation and benefits	392	408
Other liabilities	683	687
Total liabilities	14,979	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	$ 38	$ 63
Accumulated other comprehensive loss	(329)	(331)
Retained earnings	13,865	12,536
Treasury stock, at cost	$ (5,940)	$ (5,540)
Treasury shares (in shares)	187	176
Company shareholders' equity	$ 10,296	$ 9,391
Noncontrolling interest in consolidated subsidiaries	56	42
Total shareholders' equity	10,352	9,433
Total liabilities and shareholders' equity	25,331	24,683
Accrued Income Taxes, Current	$ 482	$ 390
UNITED STATES \| Revenue Benchmark [Member] \| Geographic Concentration Risk [Member]
Shareholders' equity:
Concentration Risk, Percentage	41.00%

Business Segment and Geographic Information

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
Millions of dollars		2024		2023		2024		2023
Revenue:
Completion and Production		$	3,299	$	3,487	$	10,073	$	10,372
Drilling and Evaluation		2,398		2,317		7,261		6,907
Total revenue		$	5,697	$	5,804	$	17,334	$	17,279
Operating income:
Completion and Production		$	669	$	746	$	2,080	$	2,119
Drilling and Evaluation		406		378		1,207		1,123
Total operations		1,075		1,124		3,287		3,242
Corporate and other (a)		(60)		(64)		(190)		(181)
SAP S4 upgrade expense		(28)		(23)		(91)		(36)
Impairments and other charges (b)		(116)		—		(116)		—
Total operating income		$	871	$	1,037	$	2,890	$	3,025
Interest expense, net of interest income		(85)		(94)		(269)		(297)
Loss on Blue Chip Swap transactions (c)		—		—		—		(104)


Other, net (d)		(52)		(27)		(180)		(96)
Income before income taxes		$	734	$	916	$	2,441	$	2,528

(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)	For the three and nine months ended September 30, 2024, the amount includes a $45 million charge attributable to Completion and Production, a $34 million charge attributable to Drilling and Evaluation, and a $37 million charge attributable to Corporate and other. See Note 2 for further discussion on impairments and other charges.
(c)	The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations. Our execution of certain trades, known as Blue Chip Swaps, which effectively results in a parallel U.S. dollar exchange rate, resulted in a $104 million pre-tax loss during the nine months ended September 30, 2023.

(d)	During the nine months ended September 30, 2024, Halliburton incurred a charge of $82 million primarily due to the 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/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

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+ Details

Income (Loss) per Share

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
Millions of shares	2024	2023	2024	2023
Basic weighted average common shares outstanding	881	898	885	901
Dilutive effect of awards granted under our stock incentive plans	—	4	1	3
Diluted weighted average common shares outstanding	881	902	886	904

Antidilutive shares:
Options with exercise price greater than the average market price	9	11	10	13

Total antidilutive shares	9	11	10	13

Revenue

9 Months Ended

Sep. 30, 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, 41% and 45% of our consolidated revenue was from the United States for the nine months ended September 30, 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 September 30,				Nine Months Ended September 30,
Millions of dollars	2024		2023		2024		2023
Revenue by segment:
Completion and Production	$	3,299	$	3,487	$	10,073	$	10,372
Drilling and Evaluation	2,398		2,317		7,261		6,907
Total revenue	$	5,697	$	5,804	$	17,334	$	17,279
Revenue by geographic region:
North America	$	2,386	$	2,608	$	7,413	$	8,069
Latin America	1,053		1,048		3,258		2,957
Europe/Africa/CIS	722		734		2,208		2,094
Middle East/Asia	1,536		1,414		4,455		4,159
Total revenue	$	5,697	$	5,804	$	17,334	$	17,279

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 customers’ 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 September 30, 2024, 30% of our net trade receivables was from customers in the United States and 12% was from customers in Mexico. As of December 31, 2023, 33% of our net trade receivables was from customers in the United States and 9% was from customers in Mexico. Receivables from our primary customer in Mexico accounted for approximately 10% and 6% of our total receivables as of September 30, 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 and Mexico 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
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+ Details