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Did Halliburton's Cash Really Decline By $6.5 Billion?

Halliburton reported Q2 earnings last week.

Cash declined by $6.5 billion due to debt repayments and a $3.5 billion merger break-up fee.

North America might have bottomed, but I don't foresee revenue growth in the region for several quarters.

In Q2, Halliburton (NYSE:HAL) reported revenue of $3.85 billion and EPS of -$3.73. The company beat analysts' revenue estimate of $3.76 billion, but overall, the results were disappointing. I had the following takeaways on the quarter.

Cash Really Fell By $6.5 Billion

Heading into the quarter, I suspected cash could fall from $9.6 billion in Q1...