Halliburton 2011 Annual Report Download - page 131
Download and view the complete annual report
Please find page 131 of the 2011 Halliburton annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142
-
143
-
144
-
145
-
146
-
147
 |
 |
116
Note 14. Accounting Standards Recently Adopted
In September 2011, the Financial Accounting Standards Board (FASB) issued an update to
existing guidance on the assessment of goodwill impairment. This update simplifies the assessment of
goodwill for impairment by allowing companies to consider qualitative factors to determine whether it is
more likely than not that the fair value of a reporting unit is less than its carrying amount before performing
the two step impairment review process. It also amends the examples of events or circumstances that would
be considered in a goodwill impairment evaluation. We have elected to early adopt this update to be
effective for the fiscal year beginning January 1, 2011. The adoption of this update did not have an impact
on our annual goodwill assessment.
On January 1, 2011, we adopted an update issued by the FASB to existing guidance on revenue
recognition for arrangements with multiple deliverables. This update allows companies to allocate
consideration for qualified separate deliverables using estimated selling price for both delivered and
undelivered items when vendor-specific objective evidence or third-party evidence is unavailable. It also
requires additional disclosures on the nature of multiple element arrangements, the types of deliverables
under the arrangements, the general timing of their delivery, and significant factors and estimates used to
determine estimated selling prices. The update is effective for fiscal years beginning after June 15, 2010.
The adoption of this update did not have a material impact on our consolidated financial statements or
existing revenue recognition policies.