Revenue

Revenue is recognized based on the transfer of control or our customers’ ability to benefit from our services and

products in an amount that reflects the consideration we expect to receive in exchange for those services and products. Most of

our service and product contracts are short-term in nature. In recognizing revenue for our services and products, we determine

the transaction price of purchase orders or contracts with our customers, which may consist of fixed and variable consideration.

We also assess our customers’ ability and intention to pay, which is based on a variety of factors, including our historical

payment experience with, and the financial condition of, our customers. Payment terms and conditions vary by contract type,

although terms generally include a requirement of payment within 20 to 60 days. Other judgments involved in recognizing

revenue include an assessment of progress towards completion of performance obligations for certain long-term contracts,

which involve estimating total costs to determine our progress towards contract completion and calculating the corresponding

amount of revenue to recognizeDisaggregation of revenue

We disaggregate revenue from contracts with customers into types of services or products, consistent with our two

reportable segments, in addition to geographical area. Based on the location of services provided and products sold, 39%, 40%

and 44% of our consolidated revenue was from the United States for the years ended December 31, 2025, 2024 and 2023,

respectively. No other country accounted for more than 10% of our revenue for those periods.

The following table presents information on our disaggregated revenue.


	Year Ended December 31,
Millions of dollars	2025	2024	2023
Revenue by segment:
Completion and Production	$12,782	$13,251	$13,689
Drilling and Evaluation	9,402	9,693	9,329
Total revenue	$22,184	$22,944	$23,018
Revenue by geographic region:
North America	$9,066	$9,626	$10,492
Latin America	3,935	4,211	3,987
Europe/Africa/CIS	3,351	3,003	2,861
Middle East/Asia	5,832	6,104	5,678
Total revenue	$22,184	$22,944	$23,018

Contract balances

We perform our obligations under contracts with our customers by transferring services and products in exchange for

consideration. The timing of our performance often differs from the timing of our customers’ payment, which results in the

recognition of receivables and deferred revenue. Deferred revenue represents advance consideration received from customers

for contracts where revenue is recognized on future performance of service. Deferred revenue, as well as revenue recognized

during the period relating to amounts included as deferred revenue at the beginning of the period, was not material to our

consolidated financial statements.

Transaction price allocated to remaining performance obligations

Remaining performance obligations represent firm contracts for which work has not been performed and future

revenue recognition is expected. We have elected the practical expedient permitting the exclusion of disclosing remaining

performance obligations for contracts that have an original expected duration of one year or less. We have some long-term

contracts related to software and integrated project management services such as lump sum turnkey contracts. For software

contracts, revenue is generally recognized over the duration of the contract period when the software is considered to be a right

to access our intellectual property. For lump sum turnkey projects, we recognize revenue over time using an input method,

which requires us to exercise judgment. Revenue allocated to remaining performance obligations for these long-term contracts

is not material.

Historical Timeline

Fiscal Year	Filed
2025	Feb 6, 2026	Showing above
2024	Feb 12, 2025

2023	Feb 6, 2024

2022	Feb 7, 2023

2021	Feb 4, 2022

2020	Feb 5, 2021

2019	Feb 11, 2020

2018	Feb 13, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

HALLIBURTON CO Revenue Disclosure

Historical Timeline

About Revenue Disclosures

Other Available Disclosures