Halliburton 2015 Annual Report Download - page 84

Download and view the complete annual report

Please find page 84 of the 2015 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.

Page out of 108

  • 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

67
Accumulated other comprehensive loss
Accumulated other comprehensive loss consisted of the following:
December 31
Millions of dollars 2015 2014
Defined benefit and other postretirement liability adjustments (a) $ (221 ) $ (326)
Cumulative translation adjustment (78) (70)
Unrealized loss on cash flow hedge (67)
—
Other 3 (3)
Total accumulated other comprehensive loss $ (363 ) $ (399)
(a) Included net actuarial losses for our international pension plans of $205 million at
December 31, 2015 and $298 million at December 31, 2014.
Note 12. Stock-based Compensation
The following table summarizes stock-based compensation costs for the years ended December 31, 2015, 2014, and
2013.
Year Ended December 31
Millions of dollars 2015 2014 2013
Stock-based compensation cost $ 294 $ 298 $ 264
Tax benefit (99) (90) (81)
Stock-based compensation cost, net of tax $ 195 $ 208 $ 183
Our Stock and Incentive Plan, as amended (Stock Plan), provides for the grant of any or all of the following types of
stock-based awards:
- stock options, including incentive stock options and nonqualified stock options;
- restricted stock awards;
- restricted stock unit awards;
- stock appreciation rights; and
- stock value equivalent awards.
There are currently no stock appreciation rights, stock value equivalent awards, or incentive stock options outstanding.
Under the terms of the Stock Plan, approximately 187 million shares of common stock have been reserved for issuance
to employees and non-employee directors. At December 31, 2015, approximately 19 million shares were available for future
grants under the Stock Plan. The stock to be offered pursuant to the grant of an award under the Stock Plan may be authorized
but unissued common shares or treasury shares.
In addition to the provisions of the Stock Plan, we also have stock-based compensation provisions under our Restricted
Stock Plan for Non-Employee Directors and our Employee Stock Purchase Plan (ESPP).
Each of the active stock-based compensation arrangements is discussed below.
Stock options
The majority of our options are generally issued during the second quarter of the year. All stock options under the
Stock Plan are granted at the fair market value of our common stock at the grant date. Employee stock options vest ratably over
a three-year period and generally expire 10 years from the grant date. Compensation expense for stock options is generally
recognized on a straight line basis over the entire vesting period. No further stock option grants are being made under the stock
plans of acquired companies.