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 six
months ended June 30, 1997 and 1996, is submitted in accordance with Regulation
S-K item 601 (b) (11).
Three Months Six Months
Ended June 30 Ended June 30
----------------------------- -----------------------------
1997 1996 1997 1996
------------ ------------ ------------- ------------
Millions of dollars except Millions of dollars except
per share data per share data
Primary:
Net income $ 101.9 $ 71.8 $ 184.9 $ 117.3
Average number of common and common share
equivalents outstanding 256.0 251.2 255.7 251.1
Primary net income per share $ 0.40 $ 0.29 $ 0.72 $ 0.47
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Fully Diluted:
Net income $ 101.9 $ 71.8 $ 184.9 $ 117.3
Adjusted average number of shares outstanding 256.3 251.3 256.3 251.3
Fully diluted earnings per share $ 0.40 $ 0.29 $ 0.72 $ 0.47
<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>
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