Business Segment and Geographic Information

9 Months Ended

Sep. 30, 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		Nine Months Ended
	September 30,		September 30,
Millions of dollars	2025	2024	2025	2024
Revenue:
Completion and Production	$3,223	$3,299	$9,514	$10,073
Drilling and Evaluation	2,377	2,398	7,013	7,261
Total revenue	$5,600	$5,697	$16,527	$17,334
Operating income:
Completion and Production	$514	$669	$1,558	$2,080
Drilling and Evaluation	348	406	1,012	1,207
Total operations	862	1,075	2,570	3,287
Corporate and other (a)	(64)	(60)	(196)	(190)
SAP S4 upgrade expense	(50)	(28)	(112)	(91)
Impairments and other charges (b)	(392)	(116)	(748)	(116)
Total operating income	$356	$871	$1,514	$2,890
Interest expense, net of interest income	(88)	(85)	(266)	(269)
Other, net (c)	(49)	(52)	(112)	(180)
Income before income taxes	$219	$734	$1,136	$2,441
Capital expenditures:
Completion and Production	$163	$193	$546	$535
Drilling and Evaluation	98	145	371	479
Corporate and other	—	1	—	2
Total capital expenditures	$261	$339	$917	$1,016
Depreciation, depletion, and amortization:
Completion and Production	$156	$146	$462	$440
Drilling and Evaluation	123	120	368	353
Corporate and other	6	4	16	11
Total depreciation, depletion, and amortization	$285	$270	$846	$804

(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 September 30, 2025, the amount includes a $252 million charge attributable to Completion and Production, a $140 million charge attributable to Drilling and Evaluation segment. For the nine months ended September 30, 2025, the amount included a $453 million charge attributable to Completion and Production, a $225 million charge attributable to Drilling and Evaluation, and a $70 million charge attributable to Corporate and other. For the three and nine months ended September 30, 2024, the amount included 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)	During the three and nine months ended September 30, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. 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.

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		Nine Months Ended
	September 30,		September 30,
	2025		2025
Millions of dollars	Completion and Production	Drilling and Evaluation	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,361	$911	$3,980	$2,715
Compensation	492	489	1,449	1,435
Depreciation, depletion, and amortization	156	123	462	368
Other	700	506	2,065	1,483
Total segment operating expenses	$2,709	$2,029	$7,956	$6,001

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2024		2024
Millions of dollars	Completion and Production	Drilling and Evaluation	Completion and Production	Drilling and Evaluation
Segment operating expenses:
Cost of products, materials, and supplies	$1,354	$926	$4,120	$2,864
Compensation	482	464	1,443	1,390
Depreciation, depletion, and amortization	146	120	440	353
Other	648	482	1,990	1,447
Total segment operating expenses	$2,630	$1,992	$7,993	$6,054

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	September 30, 2025	December 31, 2024
Total assets:
Completion and Production (a)	$11,902	$11,987
Drilling and Evaluation (a)	8,043	7,806
Corporate and other (b)	5,219	5,794
Total assets	$25,164	$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.