Information on business segments |
The following table presents information on our business segments. | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | Millions of dollars | 2024 | 2023 | 2024 | 2023 | | | Revenue: | | | | | | | Completion and Production | $ | 3,401 | | $ | 3,476 | | $ | 6,774 | | $ | 6,885 | | | | Drilling and Evaluation | 2,432 | | 2,322 | | 4,863 | | 4,590 | | | | Total revenue | $ | 5,833 | | $ | 5,798 | | $ | 11,637 | | $ | 11,475 | | | | Operating income: | | | | | | | Completion and Production | $ | 723 | | $ | 707 | | $ | 1,411 | | $ | 1,373 | | | | Drilling and Evaluation | 403 | | 376 | | 801 | | 745 | | | | Total operations | 1,126 | | 1,083 | | 2,212 | | 2,118 | | | | Corporate and other (a) | (65) | | (59) | | (130) | | (117) | | | | SAP S4 upgrade expense | (29) | | (13) | | (63) | | (13) | | | | | | | | | | | Total operating income | $ | 1,032 | | $ | 1,011 | | $ | 2,019 | | $ | 1,988 | | | | Interest expense, net of interest income | (92) | | (102) | | (184) | | (203) | | | | Loss on Blue Chip Swap transactions (b) | — | | (104) | | — | | (104) | | | | | | | | | | | | | | | | | | Other, net (c) | (20) | | (22) | | (128) | | (69) | | | | Income before income taxes | $ | 920 | | $ | 783 | | $ | 1,707 | | $ | 1,612 | | | | | | | | | | | | (a) | Includes certain expenses not attributable to a business segment, such as costs related to support functions, corporate executives, and operating lease assets, and also includes amortization expense associated with intangible assets recorded as a result of acquisitions. | | | | | (b) | The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations. Our execution of certain trades, known as Blue Chip Swaps, which effectively results in a parallel U.S. dollar exchange rate, resulted in a $104 million pre-tax loss during the three and six months ended June 30, 2023. | | | | | (c) | During the six months ended June 30, 2024, Halliburton incurred a charge of $82 million primarily due to the impairment of an investment in Argentina and currency devaluation in Egypt. | | |
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