HALLIBURTON COMPANY
EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
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 for the three and
nine months ended September 30, 1995 and 1994, is submitted in accordance with
Regulation S-K item 601 (b) (11).
Three Months Nine Months
Ended September 30 Ended September 30
---------------------------- ----------------------------
1995 1994 1995 1994
----------- ----------- ------------ -----------
Millions of dollars except per share data Primary:
Primary:
Net income (loss) $ 1.1 $ 51.7 $ 96.4 $ 50.3
Average number of common and common share
equivalents outstanding 114.6 114.2 114.4 114.2
Primary net income (loss) per share $ 0.01 $ 0.45 $ 0.84 $ 0.44
Fully Diluted:
Net income (loss) $ 1.1 $ 51.7 $ 96.4 $ 50.3
Add after-tax interest expense applicable to
Zero Coupon Convertible Subordinated
Debentures due 2006 2.3 3.3 9.2 9.6
----------- ----------- ------------ -----------
Adjusted net income (loss) $ 3.4 $ 55.0 $ 105.6 $ 59.9
Adjusted average number of shares outstanding 118.0 119.1 119.0 119.1
Fully diluted earnings (loss) per share $ 0.03 $ 0.46 $ 0.89 $ 0.50
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.