哈里伯顿 2025年季度报告

For the transition period from _______to_______ Delaware(State or other jurisdiction of incorporation or organization) (281)871-2699(Registrant's telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading SymbolName of each exchange on which registeredCommon Stock, par value $2.50 per shareHALNew York Stock ExchangeNYSE TexasIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Accelerated Filer Drilling and Evaluation (a)Corporate and other (b)Total assets HALQ2 2025FORM10-Q Table of ContentsPart I. Item 1| Notes to Condensed Consolidated Financial Statements Note4.RevenueRevenue 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. Mostofour service and product contracts are short-term in nature. In recognizing revenue for our services and products, we determine We also assess our customers’ ability and intention to pay, which is based on a variety offactors, including our historicalpayment experience with, and the financial condition of, our customers. Payment terms and conditions vary by contract type, which involve estimating total costs to determine our progress towards contract completion and calculating the correspondingamount of revenue to recognize. Disaggregation of revenueWe disaggregate revenue from contracts with customers into types of services or products, consistent with ourtwo during the period relating to amounts included as deferred revenue at the beginning of the period,was not material to ourcondensed consolidatedfinancial statements.Transaction price allocated to remaining performance obligationsRemaining performance obligations represent firm contracts for which work has not been performed and futurerevenue recognition is expected. We have elected the practical expedient permitting the exclusion of disclosing remainingperformance obligations for contracts that have an original expected duration ofone yearor less. We have some long-termcontracts related to software and integrated project management services such as lump sum turnkey contracts. For softwarecontracts, revenue is generally recognized over the duration of the contract period when the software is considered to be a right Table of Contents ReceivablesAs ofJune30, 2025,31%of our net trade receivables were from customers in the United States and11%were from customers in Mexico. As ofDecember31, 2024,30%of our net trade receivableswerefrom customers in the United States and11%were from customers in Mexico. Receivables from our primary customer in Mexico accounted for approximately9%and 8%of our total receivables as ofJune30, 2025andDecember31, 2024, respectively.While we have experienced paymentdelays from our primary customer in Mexico, the amounts are not in dispute and we have not historically had, and we do not default swaps (CDSs)with third-party financial institutions that have an aggregate notional amount outstanding as ofJune30,2025of$909million, compared to an aggregate notional amount outstanding as of March 31, 2025 of $1.0 billion,related toborrowings provided by the financial institutions to one of our primary customers in Mexico, of which, portions of the proceeds were utilized by this customer to pay certain of our outstanding receivables. See Note 11 for further information on these CDSs.Nocountries other than the United States and Mexico, and nosingle customeraccountedfor more than10%of our net trade Other———————Balance at March 31, 2024$2,662$—$(5,682)$12,988$(332)$46$9,682 Cash dividends ($0.17 per share) ——(251)— Stock repurchase programStock plans (a) Other —————(4)(4)Balance at June 30, 2024$2,663$—$(5,781)$13,450$(332)$46$10,046(a)In the first quarter and second quarter of2024, we issued common stock from treasury shares for stock options exercised, plan. As a result, additional paid in capital was reduced to zero in each quarter, which resulted in a reduction of retained earningsby$3millionin the first quarter of 2024 and$96millionin the second quarter of 2024. Future issuances from treasury sharescould similarly impact additional paid in capital and retained earnings. Our Board of Director