Halliburton 2013 Annual Report Download - page 43

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27
We continue to experience delays in collecting payment on our receivables from our primary customer in
Venezuela. These receivables are not disputed, and we have not historically had material write-offs relating to this customer.
Additionally, we routinely monitor the financial stability of our customers. Our total outstanding trade receivables in Venezuela
were $486 million, or approximately 8% of our gross trade receivables, as of December 31, 2013, compared to $491 million, or
approximately 9% of our gross trade receivables, as of December 31, 2012. Of the $486 million of receivables in Venezuela as
of December 31, 2013, $183 million has been classified as long-term and included within “Other assets” on our consolidated
balance sheets. Of the $491 million receivables in Venezuela as of December 31, 2012, $143 million has been classified as
long-term and included within “Other assets” on our consolidated balance sheets.
In February 2013, the Venezuelan government devalued the Bolívar, from the preexisting exchange rate of 4.3
Bolívares per United States dollar to 6.3 Bolívares per United States dollar, resulting in us incurring a foreign currency loss.
The net foreign currency impact of Bolívar activity in the first quarter of 2013 was not material, although further devaluation of
the Bolívar could impact our operations. For additional information, see Part I, Item 1(a), “Risk Factors” in this Form 10-K.