Analysis of Debt
Total Debt (Carrying Amount)
Halliburton Co., balance sheet: debt
US$ in millions
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).
- Short-term borrowings and current maturities of long-term debt
- The figures exhibit significant volatility over the analyzed period. Beginning at 14 million USD in 2014, the value spiked sharply to 659 million USD in 2015, then plummeted to 170 million USD in 2016. The amount increased again to 512 million USD in 2017, before dropping considerably to 36 million USD by the end of 2018. This pattern indicates irregular short-term refinancing or repayment activity, pointing to fluctuating liquidity management strategies or changes in short-term funding needs.
- Long-term debt, excluding current maturities
- Long-term debt shows an upward trajectory from 7,840 million USD in 2014 to a peak of 14,687 million USD in 2015, nearly doubling within one year. Subsequently, the debt level decreased consistently each year, reaching 10,421 million USD by 2018. This downward trend after 2015 suggests a deleveraging phase or repayment of long-term obligations following a significant increase in 2015.
- Total debt (carrying amount)
- Total debt follows a pattern combining the movements of short-term and long-term components. It increased from 7,854 million USD in 2014 to 15,346 million USD in 2015, reflecting the surge in both debt categories. Thereafter, total debt decreased steadily through 2016 to 10,457 million USD in 2018. This overall decline post-2015 illustrates a reduction in the company's indebtedness, indicating efforts toward lowering leverage or improving financial structure.
Total Debt (Fair Value)
| Dec 31, 2018 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total debt (fair value) | 10,876) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.04 |
Based on: 10-K (reporting date: 2018-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 4.99%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 5.00% | 2,000) | 100) | |
| 3.80% | 2,000) | 76) | |
| 3.50% | 1,100) | 39) | |
| 4.85% | 1,000) | 49) | |
| 7.45% | 1,000) | 75) | |
| 4.75% | 900) | 43) | |
| 6.70% | 800) | 54) | |
| 3.25% | 500) | 16) | |
| 4.50% | 500) | 23) | |
| 7.60% | 300) | 23) | |
| 8.75% | 185) | 16) | |
| 6.75% | 104) | 7) | |
| Total | 10,389) | 519) | |
| 4.99% | |||
Based on: 10-K (reporting date: 2018-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 519 ÷ 10,389 = 4.99%