SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (date of earliest event reported)
DECEMBER 7, 2001
Halliburton Company
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number Identification
of incorporation Number
Delaware 1-3492 No. 75-2677995
3600 Lincoln Plaza
500 North Akard Street
Dallas, Texas 75201-3391
(Address of principal executive offices)
Registrant's telephone number,
including area code - 214/978-2600
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INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The registrant may, at its option, report under this item any events, with
respect to which information is not otherwise called for by this form, that the
registrant deems of importance to security holders.
On December 7, 2001 registrant issued a press release entitled "Halliburton
Comments on Asbestos Judgments" to provide background on the recent
announcements of three adverse asbestos litigation results and to put them into
context.
The following summarizes that press release:
Registrant's strategy in managing asbestos cases is to achieve settlement
of valid claims for reasonable amounts. When registrant believes that
plaintiffs' settlement demands are not reasonable, it takes the cases to trial.
The verdicts and judgements recently announced by registrant are significantly
outside its past experience.
As previously announced by registrant, it believes that the $65 million
dollar judgment in the district court in Orange, Texas is based on serious error
during the trial and that the trial evidence does not support the judgment.
Separately, the same district court judge rendered the $35.7 million of
judgments against registrant's subsidiary, Dresser Industries, Inc., based on
settlement agreements to which Dresser was not a party and did not authorize.
Registrant believes both of these actions are contrary to applicable law and
will appeal both of them. If the appeals are not successful, registrant has
substantial insurance that it expects will pay most of these judgments.
In the Baltimore case, registrant believes that it has a good basis for
appeal of the verdict if judgment on the verdict is rendered. However,
registrant cannot be certain of the result of such appeal. In any event, if
registrant's appeals do not succeed, registrant has substantial insurance that
it expects will pay most of any verdict amount.
During the coming weeks and months registrant expects Dresser and Kellogg
Brown & Root will be involved in a number of other asbestos claim trials in
several states. Registrant cannot predict the outcome of such trials but is
confident in its strategy. Registrant is managing its asbestos claims
aggressively and will continue its current claim strategy and seek to minimize
any adverse financial impact on it to the maximum extent possible. Registrant's
businesses are strong and healthy and its financial disclosure is accurate and
complete.
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Item 7. Financial Statements and Exhibits
List below the financial statements, pro forma financial information and
exhibits, if any, filed as part of this report.
(c) Exhibits.
Exhibit 20 - Press release dated December 7, 2001.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HALLIBURTON COMPANY
Date: December 10, 2001 By: /s/ Susan S. Keith
------------------------------------
Susan S. Keith
Vice President and Secretary
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EXHIBIT INDEX
Exhibit Description
20 Press Release Dated December 7, 2001
Incorporated by Reference
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