$HAL
HALLIBURTON CO

2021 Q1 Form 10-Q Financial Statement

#000004501221000019 Filed on April 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.451B $5.037B
YoY Change -31.49% -12.2%
Cost Of Revenue $3.033B $4.481B
YoY Change -32.31% -14.68%
Gross Profit $418.0M $556.0M
YoY Change -24.82% 14.64%
Gross Profit Margin 12.11% 11.04%
Selling, General & Admin $48.00M $54.00M
YoY Change -11.11% -8.47%
% of Gross Profit 11.48% 9.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $226.0M $348.0M
YoY Change -35.06% -16.35%
% of Gross Profit 54.07% 62.59%
Operating Expenses $48.00M $54.00M
YoY Change -11.11% -8.47%
Operating Profit $370.0M -$571.0M
YoY Change -164.8% -256.44%
Interest Expense -$125.0M -$134.0M
YoY Change -6.72% -6.29%
% of Operating Profit -33.78%
Other Income/Expense, Net -$22.00M -$23.00M
YoY Change -4.35% -23.33%
Pretax Income $223.0M -$896.0M
YoY Change -124.89% -566.67%
Income Tax $52.00M $119.0M
% Of Pretax Income 23.32%
Net Earnings $170.0M -$1.017B
YoY Change -116.72% -769.08%
Net Earnings / Revenue 4.93% -20.19%
Basic Earnings Per Share
Diluted Earnings Per Share $191.2K -$1.158M
COMMON SHARES
Basic Shares Outstanding 889.0M shares 878.0M shares
Diluted Shares Outstanding 889.0M shares 878.0M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.446B $1.385B
YoY Change 76.61% 0.36%
Cash & Equivalents $2.446B $1.385B
Short-Term Investments
Other Short-Term Assets $1.475B $1.200B
YoY Change 22.92% 30.15%
Inventory $2.349B $3.220B
Prepaid Expenses
Receivables $3.250B $4.850B
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.520B $10.66B
YoY Change -10.65% -4.76%
LONG-TERM ASSETS
Property, Plant & Equipment $4.231B $6.223B
YoY Change -32.01% -29.71%
Goodwill $2.804B $2.812B
YoY Change -0.28% -0.42%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.095B $1.440B
YoY Change -23.96% -18.04%
Total Long-Term Assets $11.06B $12.97B
YoY Change -14.75% -17.94%
TOTAL ASSETS
Total Short-Term Assets $9.520B $10.66B
Total Long-Term Assets $11.06B $12.97B
Total Assets $20.58B $23.62B
YoY Change -12.9% -12.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.769B $2.640B
YoY Change -32.99% -14.29%
Accrued Expenses $729.0M $769.0M
YoY Change -5.2% -18.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $515.0M $193.0M
YoY Change 166.84% 1508.33%
Total Short-Term Liabilities $4.225B $5.053B
YoY Change -16.39% 0.12%
LONG-TERM LIABILITIES
Long-Term Debt $9.127B $1.500B
YoY Change 508.47% -85.64%
Other Long-Term Liabilities $808.0M $813.0M
YoY Change -0.62% 1.88%
Total Long-Term Liabilities $808.0M $2.313B
YoY Change -65.07% 189.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.225B $5.053B
Total Long-Term Liabilities $808.0M $2.313B
Total Liabilities $15.40B $16.78B
YoY Change -8.24% -3.37%
SHAREHOLDERS EQUITY
Retained Earnings $8.709B $10.81B
YoY Change -19.47% -21.26%
Common Stock $2.700B $2.779B
YoY Change -2.84% -4.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.877B $6.412B
YoY Change -8.34% -3.87%
Treasury Stock Shares 178.0M shares 194.0M shares
Shareholders Equity $5.170B $6.830B
YoY Change
Total Liabilities & Shareholders Equity $20.58B $23.62B
YoY Change -12.9% -12.48%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $170.0M -$1.017B
YoY Change -116.72% -769.08%
Depreciation, Depletion And Amortization $226.0M $348.0M
YoY Change -35.06% -16.35%
Cash From Operating Activities $203.0M $225.0M
YoY Change -9.78% -611.36%
INVESTING ACTIVITIES
Capital Expenditures -$104.0M -$213.0M
YoY Change -51.17% -51.26%
Acquisitions
YoY Change
Other Investing Activities $16.00M $21.00M
YoY Change -23.81% 23.53%
Cash From Investing Activities -$62.00M -$165.0M
YoY Change -62.42% -59.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $100.0M
YoY Change -100.0%
Debt Paid & Issued, Net $188.0M $1.651B
YoY Change -88.61% 20537.5%
Cash From Financing Activities -$223.0M -$903.0M
YoY Change -75.3% 482.58%
NET CHANGE
Cash From Operating Activities $203.0M $225.0M
Cash From Investing Activities -$62.00M -$165.0M
Cash From Financing Activities -$223.0M -$903.0M
Net Change In Cash -$117.0M -$883.0M
YoY Change -86.75% 40.61%
FREE CASH FLOW
Cash From Operating Activities $203.0M $225.0M
Capital Expenditures -$104.0M -$213.0M
Free Cash Flow $307.0M $438.0M
YoY Change -29.91% 11.45%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-883000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2563000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2268000000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2446000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1385000000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
138000000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
144000000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
54000000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
116000000 USD
CY2021Q1 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements were prepared using generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, these financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our 2020 Annual Report on Form 10-K.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="margin-bottom:3pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accounting policies are in accordance with United States generally accepted accounting principles. The preparation of financial statements in conformity with these accounting principles requires us to make estimates and assumptions that affect:</span></div><div style="margin-bottom:3pt;padding-left:49.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and</span></div><div style="padding-left:49.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the reported amounts of revenue and expenses during the reporting period.</span></div><div style="padding-left:45pt;text-indent:-9pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ultimate results could differ from our estimates.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In our opinion, the condensed consolidated financial statements included herein contain all adjustments necessary to present fairly our financial position as of March 31, 2021 and the results of our operations and cash flows for the three months ended March 31, 2021 and 2020. 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.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The results of our operations for the three months ended March 31, 2021 may not be indicative of results for the full year.</span></div>
CY2021Q1 hal Number Of Business Segments
NumberOfBusinessSegments
2 Division
CY2021Q1 hal Number Of Business Segments
NumberOfBusinessSegments
2 Division
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3451000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5037000000 USD
CY2021Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0 USD
CY2020Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1073000000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
370000000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-571000000 USD
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-125000000 USD
CY2020Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-134000000 USD
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-168000000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22000000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-23000000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
223000000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-896000000 USD
CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-168000000 USD
CY2021Q1 hal Number Of Business Segments
NumberOfBusinessSegments
2 Division
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3451000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5037000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3451000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5037000000 USD
CY2021Q1 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
one year
CY2021Q1 hal Number Of Customers Exceed Receivables Threshold
NumberOfCustomersExceedReceivablesThreshold
0 Customers
CY2020Q4 hal Number Of Customers Exceed Receivables Threshold
NumberOfCustomersExceedReceivablesThreshold
0 Customers
CY2020Q4 hal Maximum Percentage Gross Trade Receivables From One Customer
MaximumPercentageGrossTradeReceivablesFromOneCustomer
0.10
CY2021Q1 hal Maximum Percentage Gross Trade Receivables From One Customer
MaximumPercentageGrossTradeReceivablesFromOneCustomer
0.10
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1337000000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1330000000 USD
CY2021Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
935000000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
952000000 USD
CY2021Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
77000000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
67000000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
2349000000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
2349000000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4983000000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
171000000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.045
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
40000000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
66000000 USD
CY2021Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
1000000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5179000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8025000000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-1015000000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11000000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.18
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
158000000 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
100000000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
82000000 USD
CY2020Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
2000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6843000000 USD
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
5100000000 USD
CY2021Q1 hal Treasury Stock Shares Acquired From Inception
TreasuryStockSharesAcquiredFromInception
224000000 shares
CY2021Q1 hal Treasury Stock Value Acquired Cost Method From Inception
TreasuryStockValueAcquiredCostMethodFromInception
9000000000.0 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
225000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
226000000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-85000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-83000000 USD
CY2021Q1 hal Accumulated Other Comprehensive Income Loss Other Net Of Tax
AccumulatedOtherComprehensiveIncomeLossOtherNetOfTax
-52000000 USD
CY2020Q4 hal Accumulated Other Comprehensive Income Loss Other Net Of Tax
AccumulatedOtherComprehensiveIncomeLossOtherNetOfTax
-53000000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-362000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-362000000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
889000000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
878000000 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
889000000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
878000000 shares
CY2021Q1 hal Numberofdaysfromperiodend
Numberofdaysfromperiodend
P2D
CY2021Q1 hal Numberofdaysfromperiodend
Numberofdaysfromperiodend
P2D

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