Halliburton Company (HAL)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	7,541,000	—	—	—	7,636,000	—	—	—	7,928,000	—	—	—	9,127,000	—	—	—	9,132,000	1,500,000	1,500,000	1,500,000
Total assets	US$ in thousands	25,587,000	25,331,000	25,152,000	24,654,000	24,683,000	24,442,000	24,073,000	23,619,000	23,255,000	22,563,000	22,445,000	22,073,000	22,321,000	21,025,000	20,917,000	20,575,000	20,680,000	20,874,000	21,104,000	23,622,000
Debt-to-assets ratio		0.29	0.00	0.00	0.00	0.31	0.00	0.00	0.00	0.34	0.00	0.00	0.00	0.41	0.00	0.00	0.00	0.44	0.07	0.07	0.06

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $7,541,000K ÷ $25,587,000K
= 0.29

The debt-to-assets ratio for Halliburton Company has exhibited fluctuations over the years, reaching a peak of 0.44 on December 31, 2020, which indicates that 44% of the company's assets were financed through debt at that point in time. However, the ratio dropped significantly in the following periods, reaching as low as 0.00 in subsequent quarters. This suggests that the company made efforts to reduce its reliance on debt to fund its operations and investments.

There was a slight increase in the debt-to-assets ratio to 0.41 on December 31, 2021, before declining again to 0.34 on December 31, 2022, and further to 0.31 on December 31, 2023. These lower ratios indicate a more conservative approach to financing, with a larger proportion of assets being funded through equity rather than debt.

Overall, the trend in the debt-to-assets ratio for Halliburton Company shows a mix of strategic financial decisions and adjustments in capital structure to maintain a healthy balance between debt and equity financing.