Halliburton 2015 Annual Report Download - page 83

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At December 31, 2015, we had $2.0 billion of net operating loss carryforwards, of which $375 million will expire
from 2016 through 2019, $367 million will expire from 2020 through 2024, and $285 million will expire from 2025 through
2035. The remaining balance will not expire.
The following table presents a rollforward of our unrecognized tax benefits and associated interest and penalties.
Millions of dollars
Unrecognized
Tax Benefits
Interest
and Penalties
Balance at January 1, 2013 $ 228 $ 68
Change in prior year tax positions (53) (9)
Change in current year tax positions 30 1
Cash settlements with taxing authorities (21) (17)
Lapse of statute of limitations (9) (9)
Balance at December 31, 2013 $ 175 $ 34
Chan
g
e in
p
rior
y
ear tax
p
ositions 83 24
Change in current year tax positions 84
—
Cash settlements with taxing authorities (27) (1)
Lapse of statute of limitations (1) (1)
Balance at December 31, 2014 $ 314 (a) $ 56
Chan
g
e in
p
rior
y
ear tax
p
ositions
(
33
)
7
Change in current year tax positions 62 1
Cash settlements with taxing authorities (16) (15)
Lapse of statute of limitations (5) (2)
Balance at December 31, 2015 $ 322 (a)(b) $ 47
(a) Includes $67 million as of December 31, 2015 and $46 million as of December 31, 2014 in foreign unrecognized tax
benefits that would give rise to a United States tax credit. Approximately $176 million, which excludes $10 million of
unrecognized tax benefits covered by an indemnification asset, as of December 31, 2015 and $194 million as of
December 31, 2014, if resolved in our favor, would positively impact the effective tax rate and, therefore, be
recognized as additional tax benefits in our statement of operations.
(b) Includes $37 million that could be resolved within the next 12 months.
We file income tax returns in the United States federal jurisdiction and in various states and foreign jurisdictions. In
most cases, we are no longer subject to state, local, or non-United States income tax examination by tax authorities for years
before 2005. Tax filings of our subsidiaries, unconsolidated affiliates, and related entities are routinely examined in the normal
course of business by tax authorities. Currently, our United States federal tax filings for the tax years 2012 through 2013 are
under review, 2003 through 2009 are under appeal pending final calculation of certain tax attribute carryforwards, and 2010
through 2011 are also under appeals by the Internal Revenue Service.
Note 11. Shareholders’ Equity
Shares of common stock
The following table summarizes total shares of common stock outstanding:
December 31
Millions of shares 2015 2014
Issued 1,071 1,071
In treasury (215) (223)
Total shares of common stock outstanding 856 848
Our Board of Directors has authorized a program to repurchase our common stock from time to time. The program
does not require a specific number of shares to be purchased and the program may be effected through solicited or unsolicited
transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time.
There were no repurchases made under the program during the year ended December 31, 2015. Approximately $5.7 billion
remains authorized for repurchases as of December 31, 2015. From the inception of this program in February 2006 through
December 31, 2015, we repurchased approximately 201 million shares of our common stock for a total cost of approximately
$8.4 billion.
Preferred stock
Our preferred stock consists of five million total authorized shares at December 31, 2015, of which none are issued.