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Halliburton Co. (NYSE:HAL)

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

Common-Size Balance Sheet: Assets
Quarterly Data

Halliburton Co., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Cash and equivalents 7.73 7.99 7.99 9.26 9.32 7.36 8.45 8.47 14.85 12.29 11.21 28.27 27.28 7.44 9.02 7.50 7.11 6.42 7.74 7.26
Marketable securities 0.00 0.00 1.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Receivables, net of allowances for bad debts 20.14 21.46 20.97 20.86 20.08 18.81 17.31 16.11 14.53 16.30 17.04 14.69 14.39 19.15 18.40 20.99 23.46 23.92 22.24 21.58
Inventories 11.65 11.21 10.23 9.76 9.55 9.48 9.01 9.22 8.43 9.25 9.55 8.53 6.54 8.90 9.25 11.33 11.08 11.56 11.58 11.67
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.73 6.88 6.87 0.00 0.00 0.00 0.00 0.00
Other current assets 3.39 3.75 3.59 3.93 4.02 3.68 5.74 5.70 5.45 6.11 7.56 4.82 4.56 6.96 6.19 5.38 5.09 5.11 4.90 5.59
Current assets 42.92% 44.41% 44.39% 43.81% 42.96% 39.33% 40.51% 39.49% 43.25% 43.95% 45.35% 56.30% 58.49% 49.32% 49.74% 45.20% 46.74% 47.01% 46.47% 46.10%
Property, plant, and equipment, net of accumulated depreciation 34.49 34.25 34.25 34.12 33.97 32.69 33.07 33.82 31.60 32.67 32.31 27.27 29.54 36.43 36.44 40.21 38.69 38.15 38.31 39.18
Goodwill 10.87 10.87 10.96 10.75 10.74 10.41 9.50 9.72 8.94 8.91 8.59 7.02 5.71 7.02 6.48 7.62 7.23 7.32 7.44 7.50
Deferred income taxes 5.33 4.38 4.34 4.87 4.90 8.50 8.81 8.60 7.26 7.27 6.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other assets 6.39 6.08 6.07 6.45 7.43 9.07 8.10 8.37 8.95 7.20 7.06 9.41 6.26 7.23 7.34 6.97 7.34 7.52 7.79 7.23
Noncurrent assets 57.08% 55.59% 55.61% 56.19% 57.04% 60.67% 59.49% 60.51% 56.75% 56.05% 54.65% 43.70% 41.51% 50.68% 50.26% 54.80% 53.26% 52.99% 53.53% 53.90%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The asset composition of the balance sheet exhibits significant volatility between 2014 and 2018, characterized by a notable shift in liquidity and a gradual reallocation of noncurrent assets. The most prominent feature is a substantial temporary increase in liquid assets during the 2015-2016 period, which disrupted the long-term trend of asset distribution.

Current Asset Dynamics
Cash and equivalents remained relatively stable between 7% and 10% for most of the period, except for a sharp spike starting in December 2015, peaking at 28.27% in March 2016. This surge significantly increased the total current assets to a peak of 58.49% in December 2015. Receivables showed a fluctuating pattern, starting high at 21.58% in early 2014, dropping to a low of 14.39% in December 2015, and subsequently recovering to 20.14% by the end of 2018. Inventories generally trended between 8% and 12%, showing a brief contraction in late 2015 before returning to 11.65% by December 2018.
Noncurrent Asset Evolution
Property, plant, and equipment experienced a general downward trend as a percentage of total assets, moving from 39.18% in March 2014 to 34.49% in December 2018. This decline was most pronounced in early 2016, reaching a low of 27.27%. Conversely, goodwill demonstrated a steady increase, rising from 7.50% in 2014 to 10.87% by the end of 2018. Deferred income taxes became a more prominent component of the asset base starting in mid-2016, fluctuating between 4% and 8.8% through the remainder of the period.
Structural Asset Shift
The overall balance between current and noncurrent assets shifted over time. Noncurrent assets represented approximately 53.90% of the total in early 2014 and grew to 57.08% by December 2018. This long-term increase in noncurrent asset weighting was interrupted by the temporary liquidity surge in late 2015 and early 2016, during which current assets briefly dominated the balance sheet structure.

In summary, the asset structure evolved from being heavily weighted toward physical property and equipment toward a distribution with higher proportions of goodwill and a more volatile current asset base. The periodic fluctuations in receivables and inventories suggest cyclical operational changes, while the spike in cash indicates a specific capital event during the 2015-2016 fiscal window.

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