Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Halliburton Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	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
Accounts payable	3,018)	3,142)	3,029)	2,830)	2,554)	2,416)	2,166)	2,006)	1,764)	1,543)	1,490)	1,844)	2,019)	2,193)	2,181)	2,424)	2,814)	3,005)	2,727)	2,525)
Accrued employee compensation and benefits	714)	722)	635)	647)	746)	706)	583)	544)	544)	535)	549)	609)	838)	871)	809)	774)	1,033)	986)	940)	823)
Short-term borrowings and current maturities of long-term debt	36)	35)	444)	466)	512)	515)	336)	97)	170)	152)	763)	3,186)	659)	648)	—)	—)	14)	—)	—)	—)
Other current liabilities	1,034)	1,054)	999)	1,026)	1,050)	964)	983)	1,195)	1,545)	1,401)	1,676)	1,773)	1,843)	1,991)	2,015)	1,820)	2,022)	1,898)	1,702)	1,584)
Current liabilities	4,802)	4,953)	5,107)	4,969)	4,862)	4,601)	4,068)	3,842)	4,023)	3,631)	4,478)	7,412)	5,359)	5,703)	5,005)	5,018)	5,883)	5,889)	5,369)	4,932)
Long-term debt, excluding current maturities	10,421)	10,424)	10,427)	10,428)	10,430)	10,423)	10,816)	10,812)	12,214)	12,163)	12,158)	12,207)	14,687)	7,243)	7,838)	7,841)	7,840)	7,816)	7,816)	7,816)
Employee compensation and benefits	483)	594)	585)	588)	609)	571)	550)	539)	574)	449)	449)	447)	457)	576)	595)	643)	691)	580)	583)	570)
Other liabilities	732)	763)	803)	815)	835)	949)	938)	703)	741)	786)	875)	806)	944)	1,246)	1,453)	1,462)	1,528)	1,780)	2,129)	2,186)
Noncurrent liabilities	11,636)	11,781)	11,815)	11,831)	11,874)	11,943)	12,304)	12,054)	13,529)	13,398)	13,482)	13,460)	16,088)	9,065)	9,886)	9,946)	10,059)	10,176)	10,528)	10,572)
Total liabilities	16,438)	16,734)	16,922)	16,800)	16,736)	16,544)	16,372)	15,896)	17,552)	17,029)	17,960)	20,872)	21,447)	14,768)	14,891)	14,964)	15,942)	16,065)	15,897)	15,504)
Common shares, par value $2.50 per share	2,671)	2,672)	2,672)	2,672)	2,673)	2,673)	2,673)	2,674)	2,674)	2,675)	2,675)	2,676)	2,677)	2,677)	2,677)	2,678)	2,679)	2,679)	2,679)	2,680)
Paid-in capital in excess of par value	211)	170)	125)	222)	207)	169)	131)	222)	201)	184)	253)	279)	274)	243)	176)	309)	309)	299)	244)	410)
Accumulated other comprehensive loss	(355)	(463)	(470)	(471)	(469)	(448)	(450)	(452)	(454)	(360)	(361)	(364)	(363)	(451)	(298)	(402)	(399)	(307)	(303)	(303)
Retained earnings	13,739)	13,216)	12,939)	12,586)	12,668)	13,649)	13,441)	13,569)	14,141)	14,445)	14,595)	17,958)	20,524)	20,706)	20,914)	21,013)	21,809)	21,060)	19,984)	19,337)
Treasury stock, at cost	(6,744)	(6,597)	(6,443)	(6,644)	(6,757)	(6,826)	(6,878)	(7,062)	(7,153)	(7,262)	(7,428)	(7,534)	(7,650)	(7,727)	(7,784)	(8,007)	(8,131)	(8,240)	(8,042)	(8,399)
Company shareholders’ equity	9,522)	8,998)	8,823)	8,365)	8,322)	9,217)	8,917)	8,951)	9,409)	9,682)	9,734)	13,015)	15,462)	15,448)	15,685)	15,591)	16,267)	15,491)	14,562)	13,725)
Noncontrolling interest in consolidated subsidiaries	22)	19)	20)	26)	27)	29)	36)	38)	39)	44)	43)	45)	33)	32)	30)	32)	31)	27)	25)	27)
Total shareholders’ equity	9,544)	9,017)	8,843)	8,391)	8,349)	9,246)	8,953)	8,989)	9,448)	9,726)	9,777)	13,060)	15,495)	15,480)	15,715)	15,623)	16,298)	15,518)	14,587)	13,752)
Total liabilities and shareholders’ equity	25,982)	25,751)	25,765)	25,191)	25,085)	25,790)	25,325)	24,885)	27,000)	26,755)	27,737)	33,932)	36,942)	30,248)	30,606)	30,587)	32,240)	31,583)	30,484)	29,256)

The quarterly financial data reveal several notable trends in the liabilities and shareholders’ equity over the analyzed periods.

Current Liabilities: Accounts payable demonstrated a generally declining trend from the end of 2014 through 2016, reaching a low in mid-2016, but began to rise again from 2017 onward. Accrued employee compensation and benefits showed a similar pattern of decline through 2016, followed by a modest recovery. Short-term borrowings and current maturities of long-term debt appeared sporadically in the data, with a significant increase in late 2015 and a notable decrease thereafter. Other current liabilities decreased notably from 2014 into 2016, followed by minor fluctuations around a lower base, but no strong directional trend in recent periods. Overall, current liabilities fluctuated significantly, peaking in the fourth quarter of 2015 largely due to increased short-term borrowings, and then generally declined but remained volatile through 2018.
Long-Term Debt: Long-term debt excluding current maturities remained relatively stable around 7,800 million through mid-2015, followed by a sharp increase in the fourth quarter of 2015 to approximately 14,700 million. This substantial rise indicates a significant refinancing or new debt issuance, after which the balance decreased slightly but stayed above 10,000 million for the rest of the period. The data suggest a strategic shift to higher leverage beginning in late 2015, which plateaued subsequently.
Noncurrent Liabilities: Noncurrent liabilities decreased from over 10,500 million in early 2014 to just over 9,000 million by late 2015 before rising sharply to above 16,000 million in the same quarter, mirroring the jump in long-term debt. Thereafter, a gradual decline occurred, trending downward to around 11,600 million by the end of 2018, indicating reductions in obligations or reclassifications.
Total Liabilities: Total liabilities followed a relatively stable course near 15,900–16,000 million through 2014, dipped slightly in early 2015, then experienced a sharp spike in late 2015 to over 21,400 million. Following this peak, a declining trend resumed, with total liabilities decreasing steadily to approximately 16,400 million by the end of 2018, suggesting a deleveraging process occurred post-2015 peak.
Shareholders’ Equity: Common shares remained virtually constant, reflecting no significant changes in par value stock issuance or retirement. Paid-in capital showed some variability but no consistent direction. Accumulated other comprehensive loss fluctuated mildly, with larger negative values in some quarters, declining slightly towards 2018, indicating relatively stable unrealized losses or foreign currency translation adjustments.; Retained earnings rose steadily from about 19,300 million in early 2014 to a peak around 21,800 million by the end of 2014, but then exhibited a notable declining trend through 2017 with a low point near 12,700 million, before recovering moderately toward 13,700 million by the end of 2018. This suggests a period of lower net income or dividend distributions affecting accumulated profits.; Treasury stock values generally decreased in absolute terms over time, indicating ongoing repurchases or retirements reducing the cost basis, but with some fluctuations in 2018. Total shareholders’ equity peaked near 16,300 million in late 2014 before declining sharply in 2015 and stabilizing around 9,000 million through 2017 and 2018, reflecting the impact of both decreased retained earnings and increased liabilities.
Total Liabilities and Shareholders’ Equity: The sum of liabilities and equity increased steadily through 2014, peaked sharply in late 2015 driven primarily by increased liabilities, then generally declined through 2018 with some minor fluctuations. This overall pattern aligns with the fluctuations seen in debt levels and equity components.

In summary, the company experienced a significant increase in long-term debt and total liabilities around late 2015, resulting in a corresponding reduction in shareholders’ equity driven by declining retained earnings. Following this, a deleveraging trend is observed with liabilities decreasing and equity stabilizing at lower levels. Current liabilities have remained relatively volatile, while common shares and paid-in capital remained stable with minor fluctuations. The company’s financial structure suggests leveraging in 2015 followed by efforts to reduce debt and maintain equity stability through 2018.

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Halliburton Co. (NYSE:HAL)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data