v3.25.4

Business Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Business Segment and Geographic Information | Business Segment and Geographic 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 segments and makes resource allocation decisions based on segment revenue and operating income. Operations by business segment The follow ing table presents information on our business segments.
| Year Ended December 31,
Millions of dollars | 2025 | 2024 | 2023
Revenue: |  |  |
Completion and Production | $12,782 | $13,251 | $13,689
Drilling and Evaluation | 9,402 | 9,693 | 9,329
Total revenue | $22,184 | $22,944 | $23,018
Operating income: |  |  |
Completion and Production | $2,128 | $2,709 | $2,835
Drilling and Evaluation | 1,379 | 1,608 | 1,543
Total operations | 3,507 | 4,317 | 4,378
Corporate and other (a) | (262) | (255) | (244)
SAP S4 upgrade expense | (154) | (124) | (51)
Impairments and other charges (b) | (831) | (116) | —
Total operating income | $2,260 | $3,822 | $4,083
Interest expense, net of interest income | $(352) | $(353) | $(395)
Loss on Blue Chip Swap transactions | (9) | (8) | (110)
Argentina currency impact | — | — | (131)
Other, net (c) | (128) | (227) | (84)
Income before income taxes | $1,771 | $3,234 | $3,363
Capital expenditures: |  |  |
Completion and Production | $741 | $775 | $765
Drilling and Evaluation | 513 | 665 | 613
Corporate and other | — | 2 | 1
Total capital expenditures | $1,254 | $1,442 | $1,379
Depreciation, depletion, and amortization: |  |  |
Completion and Production | $618 | $588 | $553
Drilling and Evaluation | 496 | 475 | 430
Corporate and other | 22 | 16 | 15
Total depreciation, depletion, and amortization | $1,136 | $1,079 | $998
(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) | Impairments and other charges are as follows: –For the year ended December 31, 2025, amount includes approximately $556 million attributable to Completion and Production, $247 million attributable to Drilling and Evaluation, and $28 million attributable to Corporate and other. –For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production, $34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other.
(c) | During the year ended December 31, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. During the year ended December 31, 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 operatin g income and are regularly reviewed by our CODM.
| Year Ended December 31,
| 2025
Millions of dollars | Completion and Production | Drilling and Evaluation
Segment operating expenses: |  |
Cost of products, materials, and supplies | $5,361 | $3,641
Compensation | 1,919 | 1,908
Depreciation, depletion, and amortization | 618 | 496
Other | 2,756 | 1,978
Total segment operating expenses | $10,654 | $8,023
| Year Ended December 31,
| 2024
Millions of dollars | Completion and Production | Drilling and Evaluation
Segment operating expenses: |  |
Cost of products, materials, and supplies | $5,428 | $3,803
Compensation | 1,922 | 1,865
Depreciation, depletion, and amortization | 588 | 475
Other | 2,604 | 1,942
Total segment operating expenses | $10,542 | $8,085
| Year Ended December 31,
| 2023
Millions of dollars | Completion and Production | Drilling and Evaluation
Segment operating expenses: |  |
Cost of products, materials, and supplies | $5,906 | $3,771
Compensation | 1,810 | 1,750
Depreciation, depletion, and amortization | 553 | 430
Other | 2,585 | 1,835
Total segment operating expenses | $10,854 | $7,786
Other segment operating expenses primarily consist of maintenance, overhead allocations, facilities cost, and other miscellaneous costs. The following table presents total assets by segment.
| December 31,
Millions of dollars | 2025 | 2024
Total assets: |  |
Completion and Production (a) | $10,492 | $11,987
Drilling and Evaluation (a) | 7,870 | 7,806
Corporate and other (b) | 6,648 | 5,794
Total assets | $25,010 | $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.
Operations by geographic region The following tables present information by geographic area. In 2025, 2024, and 2023, based on the location of services provided and products sold, 39%, 40%, and 44%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue or property, plant, and equipment during the periods presented. As of December 31, 2025 and December 31, 2024, 42% and 49%, respectively, of our property, plant, and equipment was located in the United States.
| Year Ended December 31,
Millions of dollars | 2025 | 2024 | 2023
Revenue: |  |  |
North America | $9,066 | $9,626 | $10,492
Latin America | 3,935 | 4,211 | 3,987
Europe/Africa/CIS | 3,351 | 3,003 | 2,861
Middle East/Asia | 5,832 | 6,104 | 5,678
Total revenue | $22,184 | $22,944 | $23,018
| December 31,
Millions of dollars | 2025 | 2024
Net property, plant, and equipment: |  |
North America | $2,291 | $2,595
Latin America | 730 | 1,002
Europe/Africa/CIS | 686 | 593
Middle East/Asia | 1,554 | 923
Total net property, plant, and equipment | $5,261 | $5,113

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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