Stock Analysis on Net
Stock Analysis on Net

Halliburton Co. (NYSE:HAL)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 13, 2019.

Analysis of Income Taxes

Microsoft Excel

Paying user area

Try for free

Halliburton Co. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Income Tax Expense (Benefit)

Halliburton Co., income tax expense (benefit), continuing operations

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Federal
Foreign
State
Current income taxes
Federal
Foreign
State
Deferred income taxes
Income tax provision (benefit)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Item Description The company
Current income taxes Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Halliburton Co. current income taxes increased from 2016 to 2017 and from 2017 to 2018.
Deferred income taxes Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Halliburton Co. deferred income taxes increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.
Income tax provision (benefit) Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Halliburton Co. income tax provision (benefit) increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.

Effective Income Tax Rate (EITR)

Halliburton Co., effective income tax rate (EITR) reconciliation

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
United States statutory tax rate
Valuation allowance against tax assets
Venezuela adjustment
Impact of foreign income taxed at different rates
Adjustments of prior year taxes
State income taxes
Undistributed foreign earnings
Domestic manufacturing deduction
Non-deductible acquisition costs
Other items, net
Effective tax rate on continuing operations, before impact of U.S. tax reform
Impact of U.S. tax reform
Effective tax rate on continuing operations

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Item Description The company
Effective tax rate on continuing operations, before impact of U.S. tax reform Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Halliburton Co. effective tax rate on continuing operations, before impact of U.S. tax reform increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.

Components of Deferred Tax Assets and Liabilities

Halliburton Co., components of deferred tax assets and liabilities

US$ in millions

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net operating loss carryforwards
Foreign tax credit carryforwards
Employee compensation and benefits
Accrued liabilities
Other
Gross deferred tax assets
Valuation allowances
Deferred tax assets
Depreciation and amortization
Undistributed foreign earnings
Other
Deferred tax liabilities
Net deferred income tax asset (liability)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Item Description The company
Gross deferred tax assets Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Halliburton Co. gross deferred tax assets decreased from 2016 to 2017 and from 2017 to 2018.
Deferred tax assets Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Halliburton Co. deferred tax assets decreased from 2016 to 2017 but then slightly increased from 2017 to 2018.
Net deferred income tax asset (liability) Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. Halliburton Co. net deferred income tax asset (liability) decreased from 2016 to 2017 but then slightly increased from 2017 to 2018.

Adjustments to Financial Statements: Removal of Deferred Taxes

Halliburton Co., adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Adjustment to Current Assets
Current assets (as reported)
Less: Current deferred tax assets, net
Current assets (adjusted)
Adjustment to Total Assets
Total assets (as reported)
Less: Current deferred tax assets, net
Less: Noncurrent deferred tax assets, net
Total assets (adjusted)
Adjustment to Company Shareholders’ Equity
Company shareholders’ equity (as reported)
Less: Net deferred tax assets (liabilities)
Company shareholders’ equity (adjusted)
Adjustment to Net Income (loss) Attributable To Company
Net income (loss) attributable to company (as reported)
Add: Deferred income tax expense (benefit)
Net income (loss) attributable to company (adjusted)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Halliburton Co., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Halliburton Co., adjusted financial ratios

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Current Ratio
Reported current ratio
Adjusted current ratio
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Financial ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Halliburton Co. adjusted current ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Halliburton Co. adjusted net profit margin ratio improved from 2016 to 2017 and from 2017 to 2018.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Halliburton Co. adjusted total asset turnover ratio improved from 2016 to 2017 and from 2017 to 2018.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Halliburton Co. adjusted financial leverage ratio increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Halliburton Co. adjusted ROE improved from 2016 to 2017 and from 2017 to 2018.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Halliburton Co. adjusted ROA improved from 2016 to 2017 and from 2017 to 2018.

Halliburton Co., Financial Ratios: Reported vs. Adjusted

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Current assets
Current liabilities
Liquidity Ratio
Current ratio1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted current assets
Current liabilities
Liquidity Ratio
Adjusted current ratio2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 Current ratio = Current assets ÷ Current liabilities
= ÷ =

2 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Halliburton Co. adjusted current ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to company
Revenue
Profitability Ratio
Net profit margin1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to company
Revenue
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 Net profit margin = 100 × Net income (loss) attributable to company ÷ Revenue
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to company ÷ Revenue
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Halliburton Co. adjusted net profit margin ratio improved from 2016 to 2017 and from 2017 to 2018.

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Revenue
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Revenue
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 Total asset turnover = Revenue ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Halliburton Co. adjusted total asset turnover ratio improved from 2016 to 2017 and from 2017 to 2018.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Total assets
Company shareholders’ equity
Solvency Ratio
Financial leverage1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets
Adjusted company shareholders’ equity
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 Financial leverage = Total assets ÷ Company shareholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted company shareholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Halliburton Co. adjusted financial leverage ratio increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to company
Company shareholders’ equity
Profitability Ratio
ROE1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to company
Adjusted company shareholders’ equity
Profitability Ratio
Adjusted ROE2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 ROE = 100 × Net income (loss) attributable to company ÷ Company shareholders’ equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to company ÷ Adjusted company shareholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Halliburton Co. adjusted ROE improved from 2016 to 2017 and from 2017 to 2018.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to company
Total assets
Profitability Ratio
ROA1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to company
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

2018 Calculations

1 ROA = 100 × Net income (loss) attributable to company ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to company ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Halliburton Co. adjusted ROA improved from 2016 to 2017 and from 2017 to 2018.