HALLIBURTON CO Earnings Per Share Disclosure
Year Ended December 31, | |||
Millions of shares | 2025 | 2024 | 2023 |
Basic weighted average common shares outstanding | 853 | 882 | 899 |
Dilutive effect of awards granted under our stock incentive plans | — | 1 | 3 |
Diluted weighted average common shares outstanding | 853 | 883 | 902 |
Antidilutive shares: | |||
Weighted average options with exercise price greater than the average market price | 9 | 10 | 12 |
Total antidilutive shares | 9 | 10 | 12 |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.