Business Segment and Geographic Information

3 Months Ended

Mar. 31, 2025

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.

Our company’s chief operating decision maker (CODM) is Jeffrey Miller, Chairman of the Board, President and Chief

Executive Officer. Our CODM assesses the performance of the two divisions and makes resource allocation decisions based on

divisional revenue and operating income.

The following table presents information on our business segments.

	Three Months Ended
	March 31,
Millions of dollars	2025	2024
Revenue:
Completion and Production	$3,120	$3,373
Drilling and Evaluation	2,297	2,431
Total revenue	$5,417	$5,804
Operating income:
Completion and Production	$531	$688
Drilling and Evaluation	352	398
Total operations	883	1,086
Corporate and other (a)	(66)	(65)
SAP S4 upgrade expense	(30)	(34)
Impairments and other charges (b)	(356)	—
Total operating income	$431	$987
Interest expense, net of interest income	(86)	(92)
Other, net (c)	(39)	(108)
Income before income taxes	$306	$787
Capital expenditures:
Completion and Production	$178	$176
Drilling and Evaluation	124	153
Corporate and other	—	1
Total capital expenditures	$302	$330
Depreciation, depletion, and amortization:
Completion and Production	$152	$144
Drilling and Evaluation	121	115
Corporate and other	4	4
Total depreciation, depletion, and amortization	$277	$263

(a)	Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and includes amortization expense associated with intangible assets recorded as a result of acquisitions.
(b)	For the three months ended March 31, 2025, the amount includes a $201 million charge attributable to Completion and Production, an $85 million charge attributable to Drilling and Evaluation, and a $70 million charge attributable to Corporate and other. See Note 2 for further discussion on impairments and other charges.
(c)	During the three months ended March 31, 2024, Halliburton incurred a charge of $82 million primarily due to the impairment of an investment in Argentina and currency devaluation in Egypt.

The following table presents significant segment expenses, which represent the difference between segment revenue

and segment operating income and are regularly reviewed by our CODM.

	Three Months Ended
	March 31,
	2025
Millions of dollars	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,300	$882
Compensation	474	467
Depreciation, depletion, and amortization	152	121
Other	663	475
Total segment operating expenses	$2,589	$1,945

	Three Months Ended
	March 31,
	2024
Millions of dollars	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,392	$977
Compensation	484	465
Depreciation, depletion, and amortization	144	115
Other	665	476
Total segment operating expenses	$2,685	$2,033

Other segment operating expenses primarily consist of maintenance, overhead allocations, facilities cost, and other

miscellaneous costs.

The following table presents total assets by segment.

Millions of dollars	March 31, 2025	December 31, 2024
Total assets:
Completion and Production (a)	$12,169	$11,987
Drilling and Evaluation (a)	7,972	7,806
Corporate and other (b)	5,038	5,794
Total assets	$25,179	$25,587

(a)	Assets associated with specific segments primarily include receivables, inventories, property, plant, and equipment, operating lease right-of-use assets, equity in and advances to related companies, and goodwill.
(b)	Includes primarily cash and equivalents and deferred tax assets.