Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Halliburton Co., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	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
Net income (loss)	668)	434)	508)	47)	(825)	361)	28)	(32)	(153)	7)	(3,205)	(2,418)	(26)	(53)	53)	(641)	905)	1,205)	775)	616)
Depreciation, depletion and amortization	422)	400)	390)	394)	393)	394)	386)	383)	386)	375)	396)	346)	402)	417)	456)	560)	557)	535)	524)	510)
Impairments and other charges	(47)	—)	—)	312)	385)	—)	262)	—)	168)	—)	423)	2,766)	282)	381)	306)	1,208)	—)	—)	—)	—)
Deferred income tax benefit, continuing operations	(267)	—)	—)	—)	917)	33)	(84)	(132)	10)	5)	(659)	(857)	187)	112)	(114)	(409)	81)	(535)	—)	—)
Accounts payable	(118)	106)	219)	276)	142)	213)	170)	228)	242)	49)	(340)	(170)	(134)	88)	(239)	(318)	(164)	298)	195)	160)
Inventories	(139)	(236)	(187)	(119)	20)	(44)	13)	(18)	164)	175)	179)	34)	176)	94)	15)	(132)	72)	(101)	(113)	(105)
Receivables	245)	(79)	(107)	(245)	(286)	(449)	(437)	(178)	217)	313)	141)	228)	72)	(144)	777)	763)	(36)	(745)	(419)	(175)
Changes in assets and liabilities	(12)	(209)	(75)	(88)	(124)	(280)	(254)	32)	623)	537)	(20)	92)	114)	38)	553)	313)	(128)	(548)	(337)	(120)
Other	88)	152)	133)	(93)	265)	598)	8)	(246)	25)	117)	(567)	(100)	(74)	(869)	(71)	(219)	(266)	181)	159)	(52)
Adjustments to reconcile net income (loss) to cash flows from operating activities	184)	343)	448)	525)	1,836)	745)	318)	37)	1,212)	1,034)	(427)	2,247)	911)	79)	1,130)	1,453)	244)	(367)	346)	338)
Cash flows provided by (used in) operating activities	852)	777)	956)	572)	1,011)	1,106)	346)	5)	1,059)	1,041)	(3,632)	(171)	885)	26)	1,183)	812)	1,149)	838)	1,121)	954)
Capital expenditures	(551)	(409)	(565)	(501)	(439)	(342)	(327)	(265)	(173)	(178)	(213)	(234)	(436)	(525)	(519)	(704)	(999)	(909)	(732)	(643)
Sales of investment securities	5)	408)	114)	—)	31)	23)	44)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchases of investment securities	(3)	1)	(421)	—)	(32)	(23)	(54)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Payments to acquire businesses, net of cash acquired	(21)	(18)	(148)	—)	—)	(628)	—)	—)	(31)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from sales of property, plant and equipment	60)	37)	74)	47)	47)	35)	35)	41)	46)	62)	64)	50)	35)	50)	29)	54)	338)	—)	—)	—)
Other investing activities	(44)	(21)	(117)	80)	(27)	(27)	(6)	(13)	(30)	(13)	(36)	(24)	(67)	(14)	(63)	(32)	(145)	97)	(114)	(31)
Cash flows used in investing activities	(554)	(2)	(1,063)	(374)	(420)	(962)	(308)	(237)	(188)	(129)	(185)	(208)	(468)	(489)	(553)	(682)	(806)	(812)	(846)	(674)
Dividends to shareholders	(157)	(157)	(158)	(158)	(157)	(157)	(156)	(156)	(155)	(156)	(155)	(154)	(154)	(154)	(153)	(153)	(152)	(127)	(127)	(127)
Payments on long-term borrowings	(9)	(410)	(17)	(9)	(8)	(10)	(57)	(1,566)	(22)	(624)	(2,525)	—)	—)	—)	(8)	—)	(4)	—)	—)	—)
Stock repurchase program	(200)	(200)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(300)	—)	(500)
Proceeds from long-term borrowings, net of offering costs	—)	—)	—)	—)	10)	—)	—)	—)	74)	—)	—)	—)	7,440)	—)	—)	—)	—)	—)	—)	—)
Other financing activities	28)	16)	24)	(12)	4)	(202)	231)	63)	14)	61)	25)	77)	117)	75)	20)	51)	(4)	81)	117)	113)
Cash flows provided by (used in) financing activities	(338)	(751)	(151)	(179)	(151)	(369)	18)	(1,659)	(89)	(719)	(2,655)	(77)	7,403)	(79)	(141)	(102)	(160)	(346)	(10)	(514)
Effect of exchange rate changes on cash	(9)	(25)	(16)	(24)	(1)	(16)	(24)	(11)	(62)	(12)	(13)	(28)	8)	31)	(23)	(25)	79)	(11)	(28)	1)
Increase (decrease) in cash and equivalents	(49)	(1)	(274)	(5)	439)	(241)	32)	(1,902)	720)	181)	(6,485)	(484)	7,828)	(511)	466)	3)	262)	(331)	237)	(233)

The net income exhibits significant volatility over the examined quarters, with initial strong positive earnings in 2014 followed by a drastic decline into negative territory during 2015 and 2016. Improvement is observed starting late 2017 through 2018, culminating in positive net income levels again. This pattern suggests cycles of operational challenges and recovery phases within the period.

Depreciation, depletion, and amortization expenses remain relatively stable, showing a slight declining trend from mid-2014 through 2016, and then stabilizing around the mid-300s to low 400s million USD range thereafter. This consistency is indicative of steady capital asset usage and aging.

Impairments and other charges surged sharply starting in late 2014, with pronounced peaks in early 2016, reflecting significant asset write-downs or restructuring costs during that time. Such spikes align with the negative net income quarters, indicating correlation between impairments and profitability declines.

Deferred income tax benefits show considerable fluctuations, with notable negative spikes in both early and mid-2016, and a large positive benefit at the end of 2017. This variability may be tied to changing tax positions and timing differences impacting reported earnings.

Working capital components reveal mixed and volatile movements: accounts payable swings from positive to negative values, indicating variability in supplier payments and cash management strategies. Inventories move from negative to positive then back to negative trends, suggesting fluctuating stock levels, potentially in response to market demand changes. Receivables also display erratic changes, with sharp decreases and increases over time, implying inconsistent customer collections or sales timing.

Changes in assets and liabilities are generally inconsistent, with positive and negative swings that correspond to the behavior of receivables, payables, and inventories. These changes contribute to operational cash flow volatility.

Other operating adjustments are sporadic, with notable negative values in mid-2016 and positive spikes toward late 2017, signaling variable non-core operational impacts or one-time items affecting cash flow reconciliation.

Adjustments to reconcile net income to operating cash flow display large positive values in mid-2015 and late 2017, correlating with non-cash charges and working capital adjustments contributing to cash flow stabilization despite net income volatility.

Operating cash flows generally show a declining trend starting early 2016 with a trough at mid-2016 where the cash flow turned significantly negative. Partial recovery is evident entering 2017 and continuing into 2018, indicating operational improvements.

Capital expenditures decreased notably from 2014 through 2016, reaching the lowest levels, reflecting possible investment cutbacks or project completions. However, from late 2016 through 2018, capital spending remains relatively steady but lower than earlier years, suggesting tightened investment discipline.

Proceeds from sales of property, plant, and equipment are moderately steady, contributing small positive cash inflows each quarter, supporting capital expenditure activities and asset turnover management.

Investing cash flows are negative across all periods, driven mainly by consistent capital expenditures, with some variability due to investment securities transactions and business acquisitions. Debt-financed acquisitions in selected quarters add to this outflow.

Financing cash flows display strong variability, with significant inflows in late 2015 related to long-term borrowings, followed by substantial outflows reflecting repayments and dividends. Stock repurchases occur intermittently, with major buybacks noted in early and late 2014 and sporadically in 2018. Dividends remain relatively stable with minor incremental increases, showing commitment to shareholder returns despite operational challenges.

Cash and equivalents exhibit high volatility, largely driven by the extremes in operating and financing cash flows. The spike in cash inflows in late 2015 corresponds to the debt issuance, while massive outflows in 2016 reflect repayments and operational cash shortages. Overall, cash ended the period with small decreases, indicating tight liquidity management amid market and operational fluctuations.

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Halliburton Co. (NYSE:HAL)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data