HALLIBURTON COMPANY
EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE YEARS ENDED DECEMBER 31, 1993
The calculation below for earnings per share of the $2.50 par value Common
Stock of the Company on a primary and fully diluted basis is submitted in
accordance with Regulation S-K item 601(b)(11).
1993 1992 1991
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(In millions except per share data)
Primary:
Income (loss) before changes
in accounting methods $ (161.0) $ (123.5) $ 26.6
Changes in accounting methods - (13.8) -
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Net income (loss) (161.0) (137.3) 26.6
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Average number of common shares outstanding 112.5 107.1 106.9
Primary earnings (loss) per share:
Before changes in accounting methods $ (1.43) $ (1.15) $ 0.25
Changes in accounting methods - (0.13) -
Net income (loss) (1.43) (1.28) 0.25
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Fully diluted:
Income (loss) before changes
in accounting methods $ (161.0) $ (123.5) $ 26.6
Add after-tax interest expense applicable to
Zero Coupon Convertible Subordinated
Debentures due 2006 11.6 9.4 9.6
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Adjusted income before changes
in accounting methods (149.4) (114.1) 36.2
Changes in accounting methods - (13.8) -
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Adjusted net income (loss) $ (149.4) $ (127.9) $ 36.2
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Adjusted average number of common shares
outstanding 117.4 112.1 110.9
Fully diluted earnings (loss) per share:
Before changes in accounting methods $ (1.27) $ (1.02) $ 0.33
Changes in accounting methods - (0.12) -
Net income (loss) (1.27) (1.14) 0.33
The foregoing computations do not reflect any significant potentially dilutive
effect the Company's Preferred Stock Purchase Rights Plan could have in the
event such Rights become exercisable and any shares of either Series A Junior
Participating Preferred Stock or Common Stock of the Company are issued upon
the exercise of such Rights. Reference is made to Note 10 to the financial
statements of this Annual Report.