Financial Highlights

Financial Highlights

Despite the global pandemic and an unprecedented downturn in oil demand in 2020, we responded and adapted to the challenges, while continuing to execute for our customers. Halliburton redesigned and refocused our business to successfully navigate the downturn, delivering better margin performance compared to any prior downturn and generating strong free cash flow. We built onto our strong international business, which generated more than half of our 2020 revenue and income.


Total Revenue (USD) in 2020


Free cash flow (USD) in 2020

52% Reduction

in capital expenditures from 2019

Geographic Diversity

In 2020, Halliburton earned the majority of our revenue internationally. We reset our earnings power and improved margins in several key end markets, despite the activity slowdowns. 

Stable Free Cash Flow

Halliburton generated over $1.1 billion of free cash flow* in 2020, demonstrating our ability to generate consistent free cash flow in different business environments. 

*Management believes that free cash flow, defined as “operating cash flows” less “capital expenditures,” is an important liquidity measure that is useful to investors and management for assessing the Company’s ability to generate cash.  

Capex Reduction

Leveraging new materials and design approaches, as well as digital innovation, Halliburton has significantly reduced our CAPEX requirements and extended the life of our equipment.

Financial Highlights

Topic (Millions of U.S. dollars (USD) and shares, except per share data)








Total Operating Expenses




Operating Income (Loss)




Income (Loss) Before Taxes




Amounts Attributable to Company Shareholders: 

Net Income (Loss) from Continuing Operations




Diluted Income (Loss) Per Share from Continuing Operations

$1.89 $(1.29) $(3.34)
Cash Dividends Per Share $0.72 $0.72 $0.32
Diluted Common Shares Outstanding




Net Working Capital2




Total Assets




Total Debt




Total Shareholders' Equity




Cash Flows from Operating Activities 




Capital Expenditures




Depreciation, Depletion and Amortization




Total Capitalization3




Debt to Total Capitalization4


1 – Reported results during these periods include impairments and other charges  of USD 3.8 billion for the year ended  December 31, 2020; USD 2.5 billion for  the year ended December 31, 2019; and USD 265 million for the year ended December 31, 2018.

2 – Working capital is defined as total current assets less total current liabilities.

3 – Total capitalization is defined as total debt plus total shareholders’ equity.

4 – Debt to total capitalization is defined as the total debt divided by the sum of total debt plus total shareholders’ equity.