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HALLIBURTON COMPANY
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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, 1997 and 1996, is submitted in accordance with Regulation S-K
Item 601 (b) (11).
Three Months
Ended March 31
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1997 1996
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Primary: (Millions of dollars except
per share data)
Net income $ 83.0 $ 45.5
Average number of common and common share
equivalents outstanding 127.7 125.4
Primary net income per share $ 0.65 $ 0.36
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Fully Diluted:
Net income $ 83.0 $ 45.5
Adjusted average number of shares outstanding 127.7 125.6
Fully diluted earnings per share $ 0.65 $ 0.36
<FN>
The foregoing computations do not reflect any significant potentially dilutive
effect the Company's Rights Agreement could have in the event 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>