Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Halliburton Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
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).
- Accounts Payable
- The proportion of accounts payable relative to total liabilities and shareholders’ equity shows fluctuation over the examined periods. It started at 8.63% in early 2014 and experienced a general decline through late 2015, reaching a low of 5.37%, followed by a significant upward trend through 2017 and into 2018, peaking at 12.2% before slightly decreasing to 11.62% at the end of 2018. This indicates variability in short-term creditor reliance, with a marked increase in the later years.
- Accrued Employee Compensation and Benefits
- This category exhibited modest fluctuations, beginning near 2.81% in early 2014 and generally trending downward until reaching a low of 1.79% in early 2016. Thereafter, it gradually increased, peaking around 2.97% at the end of 2017, then stabilized near 2.75% towards the end of 2018. The pattern suggests varying accrual levels consistent with workforce compensation management.
- Short-term Borrowings and Current Maturities of Long-term Debt
- Data for this item are partially missing early on. Initially noted at 0.04% in late 2014, it increased notably in late 2015, reaching a high of 9.39%. Subsequently, it declined sharply and stabilized between 0.14% and 2.04% throughout 2016 to 2018, indicating a reduction and stabilization in short-term debt obligations over time.
- Other Current Liabilities
- These liabilities started at 5.41% in early 2014, reaching a peak above 6.5% in mid-2015, then declined steadily to about 3.74% by late 2017. Slight fluctuations occurred afterward, maintaining around 4.0% near the end of 2018. This reflects a general decrease followed by stabilization of miscellaneous current obligations.
- Current Liabilities
- Current liabilities as a percentage of total funding sources showed considerable volatility: from roughly 17% in early 2014, dipping as low as 13.57% in late 2016, then increasing sharply to near 21.84% in early 2016 and again fluctuating around 18-20% in 2018. This indicates shifting short-term liability levels relative to the company's total financial structure.
- Long-term Debt, Excluding Current Maturities
- This significant financing component demonstrated considerable variability. It began at roughly 27% in early 2014, declined gradually until late 2015, then surged notably to nearly 40% at year-end 2015. It climbed further, peaking at over 45% in late 2016, and then experienced a gradual decline maintaining just above 40% through 2018. The trend suggests substantial reliance on long-term financing with shifts in capitalization strategy.
- Employee Compensation and Benefits
- The share for this item remained generally low and stable, fluctuating between approximately 1.2% and 2.4% over the period. It showed a slight increasing trend post-2014, peaking around 2.43% at the end of 2017, before retreating slightly in 2018, indicating relatively stable expense accrual in employee-related benefits within the company's financial structure.
- Other Liabilities
- This category decreased markedly from about 7.5% in early 2014 to near 2.5% by the end of 2015, followed by minor oscillations around 3% through 2018. The consistent reduction points to a decrease in miscellaneous noncurrent obligations or better management thereof.
- Noncurrent Liabilities
- Noncurrent liabilities began at roughly 36% in early 2014, decreased until late 2015, then experienced a sharp increase to nearly 44% by year-end 2015. Afterward, this component consistently increased, reaching approximately 50% at the end of 2016 and subsequently declined slightly but remained elevated around 45% through 2018. This indicates growing long-term financial commitments during the period, with some stabilization post-2016.
- Total Liabilities
- The total liabilities as a proportion of funding sources declined from about 53% in 2014 to below 49% in early 2015, then surged to over 58% by the end of 2015 and peaked above 65% in 2016 through 2018. The upward trend suggests increasing leverage and reliance on debt and liabilities for funding over time.
- Common Shares, Par Value $2.50 Per Share
- The share in total capital ranged from 9.16% in early 2014 down to approximately 7.25% in late 2015, followed by a rebound above 10% during 2016-2018. This pattern indicates portfolio adjustments in equity capital, with a decrease in the mid-period and recovery towards the later years.
- Paid-in Capital in Excess of Par Value
- This item remained low throughout the period, fluctuating between 0.5% and 1.4%, with no evident strong trend. The stability at a relatively low percentage suggests limited changes in capital paid beyond the share par value.
- Accumulated Other Comprehensive Loss
- Consistently negative, this loss position ranged roughly from -1.0% to -1.9%, showing a slight increase in magnitude towards late 2016 and then marginal improvement by the end of 2018. The persistent negative values reflect ongoing accumulated losses in other comprehensive income categories.
- Retained Earnings
- Retained earnings represented the largest equity component, fluctuating broadly from about 66% in early 2014 down to around 50% in 2018. A notable decline occurred around late 2015, likely reflecting dividend distributions or net losses, with only slight recovery afterward. This trend demonstrates varying profitability retention and possibly significant distributions or write-downs.
- Treasury Stock, at Cost
- The treasury stock, representing shares repurchased and held by the company, showed less negative values in late 2015 (approximately -20.7%), indicating a reduction in treasury shares during that period. Generally, it hovered between -26% and -28% for most periods, suggesting a consistent level of treasury shares relative to total equity.
- Company Shareholders’ Equity
- This metric decreased from a high near 47% in early 2014 to below 35% by late 2016 and into 2017, indicating a reduction in book equity relative to total funding. Some recovery occurred towards the end of 2018, with an increase to approximately 36.6%, signaling modest strengthening in equity financing.
- Noncontrolling Interest in Consolidated Subsidiaries
- Remaining minimal throughout, this component fluctuated mildly between 0.07% and 0.16%, showing no significant impact on the overall capital structure.
- Total Shareholders’ Equity
- Combined equity (including noncontrolling interests) followed a pattern similar to company shareholders’ equity, peaking near 50.5% in late 2014, then declining sharply to about 34%-35% around 2016-2017. A gradual increase towards 36.7% by the end of 2018 indicates some restoration of equity balance relative to liabilities.
- Total Liabilities and Shareholders’ Equity
- This sum consistently equals 100%, confirming the proportional breakdown of all funding sources in the company’s financial structure over the periods studied.