Halliburton supplies equipment, services, chemicals and software that help oil and gas producers drill, complete and operate wells. Its two segments are Completion and Production and Drilling and Evaluation.
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A snapshot of what HALLIBURTON CO owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000045012-24-000007 | Feb 6, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000045012-25-000010 | Feb 12, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250000045012-26-000015 | Feb 6, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Halliburton’s reported earnings recovery is stronger than its underlying operating improvement. Through September 2026, revenue increased modestly, but lower exceptional charges and a lighter tax burden explain much of the profit rebound. Drilling and Evaluation growth partly offset weaker North American stimulation and Middle Eastern disruption. Cash generation weakened as receivables and inventories absorbed funds; lower capital spending helped cushion the effect. September cash was $1.843 billion, separate from $3.5 billion of reported available revolving credit. The chemical-business disposal is complete and Venezuela operations have restarted, but transaction economics and future collections remain uncertain. Management’s early 2027 outlook anticipates growth, subject to market assumptions and an unspecified forecast-margin basis. Mexican payment delays and the unresolved IRS dispute remain important financial risks.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · EX-99.1 · 2026-07-21 · EX-99.1 · 2026-10-20
Halliburton serves upstream producers rather than producing hydrocarbons itself. Most contracts are short term, with payment generally due within 20–60 days; recognizing revenue does not establish collection. Turnkey projects expose it to estimated-cost errors, delays and subcontractor performance. Disclosed remaining performance obligations exclude contracts originally lasting one year or less, so they are not a comprehensive backlog.
In the first nine months of 2026, Completion and Production segment income fell to $1.370 billion from $1.558 billion, while Drilling and Evaluation increased to $1.080 billion from $1.012 billion. Management cited weaker North American stimulation and Middle Eastern activity, partly offset by Latin American and European/African growth. Segment income excludes separately reported corporate costs, SAP expense and special charges. The sale of part—not all—of the chemical business closed in April 2026, reducing specialty-chemical revenue and generating a $17 million disposal loss. Sale proceeds and removed revenue are not disclosed, preventing a clean organic-growth comparison.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · EX-99.1 · 2026-07-21
The October 23, 2026 unaudited 10-Q reports nine-month revenue of $16.819 billion versus $16.527 billion and GAAP operating income of $2.081 billion versus $1.514 billion. Lower net charges contributed $736 million to that operating-income improvement, while combined segment income fell $120 million. The October 20 release reports non-GAAP adjusted operating income falling to $2.093 billion from $2.262 billion. Its adjustments retain SAP expenses and the current-year $32 million tax valuation-allowance benefit; adjusted earnings therefore are not free of unusual effects.
Third-quarter parent earnings rebounded to $417 million from $18 million, but adjusted earnings were only slightly higher at $501 million versus $496 million. The effective tax rate fell to 18.3% from 90.9%; the prior period included substantial charges and a foreign-tax-credit valuation allowance. Fewer diluted shares also supported EPS. Sequentially, adjusted operating income improved, even as GAAP operating income declined: Q3 carried a $107 million net charge, whereas Q2 benefited from a $95 million net credit. Q3 severance, inventory and asset costs were partly offset by investment gains; these net and gross amounts must not be counted twice.
Sources: 10-Q · 2026-09-30 · EX-99.1 · 2026-10-20 · EX-99.1 · 2026-04-21 · EX-99.1 · 2026-07-21
Nine-month operating cash flow fell to $1.465 billion from $1.761 billion. Receivables and inventories, partly offset by payables, consumed $517 million versus $111 million. Capital expenditure declined to $693 million from $917 million. Company-defined non-GAAP free cash flow—operating cash flow less capex plus property and equipment sale proceeds—was $947 million versus $982 million. Dividends and repurchases used $984 million, exceeding that measure; acquisitions and investments imposed additional cash demands. Cash ended September at $1.843 billion, down from $2.206 billion at year-end.
Management still expected approximately $1.1 billion of 2026 capex and $34 million of fourth-quarter SAP migration expense, with completion expected that quarter—not yet established. Benefits and payback are unquantified. Electric-fracturing deployment also depends on adequate power infrastructure. The shareholder-return framework is an annual goal, not a guaranteed quarterly distribution.
Sources: 10-Q · 2026-09-30 · EX-99.1 · 2026-10-20 · 10-K · 2025-12-31
At September 30, debt carrying value was $7.162 billion, including $90 million due in February 2027; lease liabilities are separately reported. Management reported $3.5 billion available under its revolver expiring August 16, 2030, with no financial covenants or material-adverse-change provisions. This is dated availability, not unconditional future access or independently verified contractual headroom. A separate $3.5 billion of letters of credit, guarantees and surety bonds was outstanding; specified cash-collateral triggers had not occurred. The annual filing also identified lease, purchase and interest commitments, which remain capital demands rather than September cash balances.
Sources: 10-Q · 2026-09-30 · 10-K · 2025-12-31
Mexican customers represented 10% of net trade receivables in September, versus 8% at year-end. Management acknowledges payment delays but expects no material collection write-offs; that is a judgment, not a guarantee. Related credit-default swaps matured in Q3 with zero outstanding notional and no derivative liabilities, without eliminating customer receivables or proving the absence of every private obligation. Venezuela operations restarted in Q3, but new memorandums of understanding are opportunities, not booked revenue or assured collections.
The IRS appeal over the 2016 Baker Hughes termination-fee deduction remains ongoing. If the IRS prevails, management estimates approximately $640 million of cash tax plus interest, subject to changing tax attributes; no additional payment is currently required. Middle Eastern recovery remains uneven and exposed to conflict and inflation. Legacy environmental obligations, sanctions and possible legal or regulatory consequences of the material 2024 cyber incident also remain relevant.
Management’s October 20 early outlook for 2027 calls for mid-single-digit revenue growth and approximately 15% operating margins, assuming a flat North American market and no hydraulic-fracturing recovery. The margin is not explicitly labeled GAAP or adjusted, and its comparison baseline and forward reconciliation are unspecified. These expectations, and power-generation opportunities, are not guaranteed future results.
The mine-safety exhibits report one significant-and-substantial citation and $549 of proposed assessments for full-year 2025, and two citations and $386 for Q3 2026 alone. Assessment cutoffs were January 5 and October 1, 2026, respectively. These are not established final penalties or payments, and the periods are not directly comparable. Neither exhibit reports mining fatalities or pending legal actions within its stated scope.
Sources: 10-Q · 2026-09-30 · EX-99.1 · 2026-10-20 · 10-K · 2025-12-31 · EX-95 · 2025-12-31 · EX-95 · 2026-09-30
USD 22.184 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 22.184 bn | -3.3% |
| 2024 | USD 22.944 bn | -0.3% |
| 2023 | USD 23.018 bn | — |
Consolidated services revenue plus product sales.
Sources: 10-K · 2025-12-31
USD 1.283 bn
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 1.283 bn | -48.7% |
| 2024 | USD 2.501 bn | -5.2% |
| 2023 | USD 2.638 bn | — |
Net income after deducting income attributable to noncontrolling interests.
Sources: 10-K · 2025-12-31
USD 2.926 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 2.926 bn | -24.3% |
| 2024 | USD 3.865 bn | 11.8% |
| 2023 | USD 3.458 bn | — |
Net cash provided by operating activities in the consolidated statement of cash flows.
Sources: 10-K · 2025-12-31
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