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 months
ended March 31, 1996 and 1995, is submitted in accordance with Regulation S-K
item 601 (b) (11).
Three Months
Ended March 31
-----------------------
1996 1995
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Primary: Millions of dollars except
per share data
Net income $ 51.5 $ 39.1
Average number of common and common share
equivalents outstanding 115.4 114.3
Primary net income per share $ 0.45 $ 0.34
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Fully Diluted:
Net income $ 51.5 $ 39.1
Add after-tax interest expense applicable to
Zero Coupon Convertible Subordinated
Debentures due 2006 0.0 3.4
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Adjusted net income $ 51.5 $ 42.5
Adjusted average number of shares outstanding 115.6 119.3
Fully diluted earnings per share $ 0.45 $ 0.36
<FN>
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.
</FN>
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