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Business Segment and Geographic Information | 6 Months Ended
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Jun. 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 | Six Months Ended
| June 30, | June 30,
Millions of dollars | 2025 | 2024 | 2025 | 2024
Revenue: |  |  |  |
Completion and Production | $3,171 | $3,401 | $6,291 | $6,774
Drilling and Evaluation | 2,339 | 2,432 | 4,636 | 4,863
Total revenue | $5,510 | $5,833 | $10,927 | $11,637
Operating income: |  |  |  |
Completion and Production | $513 | $723 | $1,044 | $1,411
Drilling and Evaluation | 312 | 403 | 664 | 801
Total operations | 825 | 1,126 | 1,708 | 2,212
Corporate and other (a) | (66) | (65) | (132) | (130)
SAP S4 upgrade expense | (32) | (29) | (62) | (63)
Impairments and other charges (b) | — | — | (356) | —
Total operating income | $727 | $1,032 | $1,158 | $2,019
Interest expense, net of interest income | (92) | (92) | (178) | (184)
Other, net (c) | (24) | (20) | (63) | (128)
Income before income taxes | $611 | $920 | $917 | $1,707
Capital expenditures: |  |  |  |
Completion and Production | $205 | $166 | $383 | $342
Drilling and Evaluation | 149 | 181 | 273 | 334
Corporate and other | — | — | — | 1
Total capital expenditures | $354 | $347 | $656 | $677
Depreciation, depletion, and amortization: |  |  |  |
Completion and Production | $154 | $150 | $306 | $294
Drilling and Evaluation | 124 | 118 | 245 | 233
Corporate and other | 6 | 3 | 10 | 7
Total depreciation, depletion, and amortization | $284 | $271 | $561 | $534
(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) | During the three months ended June 30, 2025, there were no amounts recorded in impairments and other charges. For the six months ended June 30, 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 six months ended June 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 | Six Months Ended
| June 30, | June 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 | $1,319 | $922 | $2,619 | $1,804
Compensation | 483 | 479 | 957 | 946
Depreciation, depletion, and amortization | 154 | 124 | 306 | 245
Other | 702 | 502 | 1,365 | 977
Total segment operating expenses | $2,658 | $2,027 | $5,247 | $3,972
| Three Months Ended | Six Months Ended
| June 30, | June 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 | $1,374 | $961 | $2,766 | $1,938
Compensation | 477 | 461 | 961 | 926
Depreciation, depletion, and amortization | 150 | 118 | 294 | 233
Other | 677 | 489 | 1,342 | 965
Total segment operating expenses | $2,678 | $2,029 | $5,363 | $4,062
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 | June 30, 2025 | December 31, 2024
Total assets: |  |
Completion and Production (a) | $11,946 | $11,987
Drilling and Evaluation (a) | 7,995 | 7,806
Corporate and other (b) | 5,436 | 5,794
Total assets | $25,377 | $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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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