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10-Q Filing

WEATHERFORD INTERNATIONAL PLC CIK: 1603923 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001603923-16-000178
Period End Date 20160331
Filing Date 20160505
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance wft-20160331.xml
Filing Contents
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Allowance for Uncollectible Accounts AllowanceForDoubtfulAccountsReceivableCurrent $113.00M USD Point-in-time
Allowance for Uncollectible Accounts AllowanceForDoubtfulAccountsReceivableCurrent $108.00M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $512.00M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $467.00M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $474.00M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $464.00M USD Point-in-time
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $108 in 2016 and $113 in 2015 ReceivablesNetCurrent $1.69B USD Point-in-time
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $108 in 2016 and $113 in 2015 ReceivablesNetCurrent $1.78B USD Point-in-time
Accumulated Depreciation of Property, Plant and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.24B USD Point-in-time
Accumulated Depreciation of Property, Plant and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.44B USD Point-in-time
Inventories, Net InventoryNet $2.30B USD Point-in-time
Inventories, Net InventoryNet $2.34B USD Point-in-time
Accumulated Amortization of Other Intangible Assets FiniteLivedIntangibleAssetsAccumulatedAmortization $783.00M USD Point-in-time
Accumulated Amortization of Other Intangible Assets FiniteLivedIntangibleAssetsAccumulatedAmortization $802.00M USD Point-in-time
Prepaid Expenses PrepaidExpenseCurrent $343.00M USD Point-in-time
Prepaid Expenses PrepaidExpenseCurrent $308.00M USD Point-in-time
Common Shares, Par Value (in USD) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Deferred Tax Assets DeferredTaxAssetsNetCurrent $133.00M USD Point-in-time
Common Shares, Par Value (in USD) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Deferred Tax Assets DeferredTaxAssetsNetCurrent $165.00M USD Point-in-time
Common Shares, Authorized (in shares) CommonStockSharesAuthorized 1.36B shares Point-in-time
Common Shares, Authorized (in shares) CommonStockSharesAuthorized 1.36B shares Point-in-time
Other Current Assets OtherAssetsCurrent $464.00M USD Point-in-time
Other Current Assets OtherAssetsCurrent $466.00M USD Point-in-time
Common Shares, Conditionally Authorized (in shares) CommonSharesSharesConditionallyAuthorized 0.00 shares Point-in-time
Total Current Assets AssetsCurrent $5.56B USD Point-in-time
Total Current Assets AssetsCurrent $5.37B USD Point-in-time
Common Shares, Conditionally Authorized (in shares) CommonSharesSharesConditionallyAuthorized 0.00 shares Point-in-time
Property, Plant and Equipment, Net of Accumulated Depreciation of $7,437 in 2016 and $7,235 in 2015 PropertyPlantAndEquipmentNet $5.68B USD Point-in-time
Common Shares, Issued (in shares) CommonStockSharesIssued 895.00M shares Point-in-time
Property, Plant and Equipment, Net of Accumulated Depreciation of $7,437 in 2016 and $7,235 in 2015 PropertyPlantAndEquipmentNet $5.47B USD Point-in-time
Common Shares, Issued (in shares) CommonStockSharesIssued 779.00M shares Point-in-time
Common Stock, Outstanding (in shares) CommonStockSharesOutstanding 895.00M shares Point-in-time
Goodwill Goodwill $2.80B USD Point-in-time
Goodwill Goodwill $2.86B USD Point-in-time
Common Stock, Outstanding (in shares) CommonStockSharesOutstanding 779.00M shares Point-in-time
Treasury Shares, at cost (in shares) TreasuryStockShares 0.00 shares Point-in-time
Treasury Shares, at cost (in shares) TreasuryStockShares 0.00 shares Point-in-time
Other Intangible Assets, Net of Accumulated Amortization of $802 in 2016 and $783 in 2015 IntangibleAssetsNetExcludingGoodwill $352.00M USD Point-in-time
Other Intangible Assets, Net of Accumulated Amortization of $802 in 2016 and $783 in 2015 IntangibleAssetsNetExcludingGoodwill $356.00M USD Point-in-time
Equity Investments EquityMethodInvestments $76.00M USD Point-in-time
Equity Investments EquityMethodInvestments $65.00M USD Point-in-time
Other Non-Current Assets OtherAssetsNoncurrent $398.00M USD Point-in-time
Other Non-Current Assets OtherAssetsNoncurrent $282.00M USD Point-in-time
Total Assets Assets $14.52B USD Point-in-time
Total Assets Assets $14.76B USD Point-in-time
Short-term Borrowings and Current Portion of Long-term Debt DebtCurrent $1.21B USD Point-in-time
Short-term Borrowings and Current Portion of Long-term Debt DebtCurrent $1.58B USD Point-in-time
Accounts Payable AccountsPayableCurrent $934.00M USD Point-in-time
Accounts Payable AccountsPayableCurrent $948.00M USD Point-in-time
Accrued Salaries and Benefits EmployeeRelatedLiabilitiesCurrent $406.00M USD Point-in-time
Accrued Salaries and Benefits EmployeeRelatedLiabilitiesCurrent $389.00M USD Point-in-time
Income Taxes Payable TaxesPayableCurrent $203.00M USD Point-in-time
Income Taxes Payable TaxesPayableCurrent $107.00M USD Point-in-time
Other Current Liabilities OtherLiabilitiesCurrent $836.00M USD Point-in-time
Other Current Liabilities OtherLiabilitiesCurrent $892.00M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $4.03B USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $3.48B USD Point-in-time
Long-term Debt LongTermDebtAndCapitalLeaseObligations $5.85B USD Point-in-time
Long-term Debt LongTermDebtAndCapitalLeaseObligations $5.85B USD Point-in-time
Other Non-Current Liabilities OtherLiabilitiesNoncurrent $533.00M USD Point-in-time
Other Non-Current Liabilities OtherLiabilitiesNoncurrent $512.00M USD Point-in-time
Total Liabilities Liabilities $10.39B USD Point-in-time
Total Liabilities Liabilities $9.86B USD Point-in-time
Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 895 shares at March 31, 2016 and 779 shares at December 31, 2015 CommonStockValue $1.00M USD Point-in-time
Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 895 shares at March 31, 2016 and 779 shares at December 31, 2015 CommonStockValue $1.00M USD Point-in-time
Capital in Excess of Par Value AdditionalPaidInCapitalCommonStock $5.50B USD Point-in-time
Capital in Excess of Par Value AdditionalPaidInCapitalCommonStock $6.14B USD Point-in-time
Retained (Deficit) Earnings RetainedEarningsAccumulatedDeficit $-56.00M USD Point-in-time
Retained (Deficit) Earnings RetainedEarningsAccumulatedDeficit $442.00M USD Point-in-time
Accumulated Other Comprehensive Loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-881.00M USD Point-in-time
Accumulated Other Comprehensive Loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.64B USD Point-in-time
Accumulated Other Comprehensive Loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.20B USD Point-in-time
Accumulated Other Comprehensive Loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.50B USD Point-in-time
Weatherford Shareholders Equity StockholdersEquity $4.30B USD Point-in-time
Weatherford Shareholders Equity StockholdersEquity $4.59B USD Point-in-time
Noncontrolling Interests MinorityInterest $61.00M USD Point-in-time
Noncontrolling Interests MinorityInterest $68.00M USD Point-in-time
Total Shareholders Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.37B USD Point-in-time
Total Shareholders Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.03B USD Point-in-time
Total Shareholders Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $6.60B USD Point-in-time
Total Shareholders Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.66B USD Point-in-time
Total Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $14.52B USD Point-in-time
Total Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $14.76B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Products SalesRevenueGoodsNet $560.00M USD 1 Quarter
Products SalesRevenueGoodsNet $1.04B USD 1 Quarter
Services SalesRevenueServicesNet $1.02B USD 1 Quarter
Services SalesRevenueServicesNet $1.75B USD 1 Quarter
Total Revenues SalesRevenueNet $1.58B USD 1 Quarter
Total Revenues SalesRevenueNet $2.79B USD 1 Quarter
Cost of Products CostOfGoodsSold $582.00M USD 1 Quarter
Cost of Products CostOfGoodsSold $903.00M USD 1 Quarter
Cost of Services CostOfServices $1.30B USD 1 Quarter
Cost of Services CostOfServices $892.00M USD 1 Quarter
Research and Development ResearchAndDevelopmentExpense $64.00M USD 1 Quarter
Research and Development ResearchAndDevelopmentExpense $45.00M USD 1 Quarter
Selling, General and Administrative Attributable to Segments SellingGeneralandAdministrativeExpensePortionAttributabletoSegments $363.00M USD 1 Quarter
Selling, General and Administrative Attributable to Segments SellingGeneralandAdministrativeExpensePortionAttributabletoSegments $273.00M USD 1 Quarter
Corporate General and Administrative GeneralAndAdministrativeExpense $46.00M USD 1 Quarter
Corporate General and Administrative GeneralAndAdministrativeExpense $77.00M USD 1 Quarter
Asset Write-Downs and Other Related Charges ImpairmentOfLongLivedAssetsToBeDisposedOf - USD 1 Quarter
Asset Write-Downs and Other Related Charges ImpairmentOfLongLivedAssetsToBeDisposedOf $49.00M USD 1 Quarter
Restructuring Charges RestructuringCharges $41.00M USD 1 Quarter
Restructuring Charges RestructuringCharges $77.00M USD 1 Quarter
Litigation Charges, Net LossContingencyAccrualProvision - USD 1 Quarter
Litigation Charges, Net LossContingencyAccrualProvision $67.00M USD 1 Quarter
(Gain) Loss on Sale of Businesses, Net GainLossOnSaleOfBusiness $-1.00M USD 1 Quarter
(Gain) Loss on Sale of Businesses, Net GainLossOnSaleOfBusiness $3.00M USD 1 Quarter
Total Costs and Expenses CostsAndExpenses $2.03B USD 1 Quarter
Total Costs and Expenses CostsAndExpenses $2.74B USD 1 Quarter
Operating Income (Loss) OperatingIncomeLoss $50.00M USD 1 Quarter
Operating Income (Loss) OperatingIncomeLoss $-447.00M USD 1 Quarter
Interest Expense, Net InterestIncomeExpenseNonoperatingNet $-115.00M USD 1 Quarter
Interest Expense, Net InterestIncomeExpenseNonoperatingNet $-120.00M USD 1 Quarter
Currency Devaluation Charges ForeignCurrencyDevaluationLossbeforeTax $26.00M USD 1 Quarter
Currency Devaluation Charges ForeignCurrencyDevaluationLossbeforeTax $31.00M USD 1 Quarter
Other, Net OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Other, Net OtherNonoperatingIncomeExpense $-11.00M USD 1 Quarter
Loss Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-107.00M USD 1 Quarter
Loss Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-592.00M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $-101.00M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit - USD 1 Quarter
Net Loss ProfitLoss $-491.00M USD 1 Quarter
Net Loss ProfitLoss $-107.00M USD 1 Quarter
Net Income Attributable to Noncontrolling Interests NetIncomeLossAttributableToNoncontrollingInterest $7.00M USD 1 Quarter
Net Income Attributable to Noncontrolling Interests NetIncomeLossAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Net Income (Loss) Attributable to Weatherford NetIncomeLoss $-498.00M USD 1 Quarter
Net Income (Loss) Attributable to Weatherford NetIncomeLoss $-118.00M USD 1 Quarter
Basic EarningsPerShareBasic $-0.15 USD 1 Quarter
Basic EarningsPerShareBasic $-0.61 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.61 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.15 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 813.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 778.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 778.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 813.00M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net Loss ProfitLoss $-491.00M USD 1 Quarter
Net Loss ProfitLoss $-107.00M USD 1 Quarter
Depreciation and Amortization DepreciationDepletionAndAmortization $316.00M USD 1 Quarter
Depreciation and Amortization DepreciationDepletionAndAmortization $250.00M USD 1 Quarter
Employee Share-Based Compensation Expense ShareBasedCompensation $21.00M USD 1 Quarter
Employee Share-Based Compensation Expense ShareBasedCompensation $15.00M USD 1 Quarter
Asset Write-Downs and Other Related Charges RestructuringCostsAndAssetImpairmentCharges - USD 1 Quarter
Asset Write-Downs and Other Related Charges RestructuringCostsAndAssetImpairmentCharges $49.00M USD 1 Quarter
Litigation Charges LitigationSettlementExpense - USD 1 Quarter
Litigation Charges LitigationSettlementExpense $71.00M USD 1 Quarter
Deferred Income Tax Benefit DeferredIncomeTaxExpenseBenefit $-80.00M USD 1 Quarter
Deferred Income Tax Benefit DeferredIncomeTaxExpenseBenefit $-36.00M USD 1 Quarter
Currency Devaluation Charges ForeignCurrencyDevaluationLossbeforeTax $26.00M USD 1 Quarter
Currency Devaluation Charges ForeignCurrencyDevaluationLossbeforeTax $31.00M USD 1 Quarter
Other, Net OtherNoncashIncomeExpense $-5.00M USD 1 Quarter
Other, Net OtherNoncashIncomeExpense $-78.00M USD 1 Quarter
Accounts Receivable IncreaseDecreaseInAccountsReceivable $-320.00M USD 1 Quarter
Accounts Receivable IncreaseDecreaseInAccountsReceivable $-88.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-46.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $32.00M USD 1 Quarter
Other Current Assets IncreaseDecreaseInOtherCurrentAssets $63.00M USD 1 Quarter
Other Current Assets IncreaseDecreaseInOtherCurrentAssets $-49.00M USD 1 Quarter
Accounts Payable IncreaseDecreaseInAccountsPayableTrade $-251.00M USD 1 Quarter
Accounts Payable IncreaseDecreaseInAccountsPayableTrade $-15.00M USD 1 Quarter
Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities $-211.00M USD 1 Quarter
Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities $-238.00M USD 1 Quarter
Other, Net IncreaseDecreaseInOtherOperatingCapitalNet $18.00M USD 1 Quarter
Other, Net IncreaseDecreaseInOtherOperatingCapitalNet $70.00M USD 1 Quarter
Net Cash Used in Operating Activities NetCashProvidedByUsedInOperatingActivities $-205.00M USD 1 Quarter
Net Cash Used in Operating Activities NetCashProvidedByUsedInOperatingActivities $-42.00M USD 1 Quarter
Capital Expenditures for Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $224.00M USD 1 Quarter
Capital Expenditures for Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $43.00M USD 1 Quarter
Acquisition of Intellectual Property PaymentsToAcquireIntangibleAssets $7.00M USD 1 Quarter
Acquisition of Intellectual Property PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Insurance Proceeds Related to Rig Loss ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Insurance Proceeds Related to Rig Loss ProceedsFromInsuranceSettlementInvestingActivities $30.00M USD 1 Quarter
Proceeds from Sale of Assets and Businesses, Net ProceedsfromSaleofAssetsandDivestituresofBusinesses $6.00M USD 1 Quarter
Proceeds from Sale of Assets and Businesses, Net ProceedsfromSaleofAssetsandDivestituresofBusinesses $3.00M USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-14.00M USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-221.00M USD 1 Quarter
Repayments of Long-term Debt, Net RepaymentsOfLongTermDebtAndCapitalSecurities $9.00M USD 1 Quarter
Repayments of Long-term Debt, Net RepaymentsOfLongTermDebtAndCapitalSecurities $154.00M USD 1 Quarter
Borrowings (Repayments) of Short-term Debt, Net ProceedsFromRepaymentsOfShortTermDebt $479.00M USD 1 Quarter
Borrowings (Repayments) of Short-term Debt, Net ProceedsFromRepaymentsOfShortTermDebt $-372.00M USD 1 Quarter
Proceeds from Issuance of Common Stock ProceedsFromIssuanceOfCommonStock $630.00M USD 1 Quarter
Proceeds from Issuance of Common Stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Other Financing Activities, Net ProceedsFromPaymentsForOtherFinancingActivities $1.00M USD 1 Quarter
Other Financing Activities, Net ProceedsFromPaymentsForOtherFinancingActivities $-18.00M USD 1 Quarter
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities $250.00M USD 1 Quarter
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities $307.00M USD 1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-6.00M USD 1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-34.00M USD 1 Quarter
Net Increase in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-3.00M USD 1 Quarter
Net Increase in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $38.00M USD 1 Quarter
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $512.00M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $467.00M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $474.00M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $464.00M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $512.00M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $467.00M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $474.00M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $464.00M USD Point-in-time
Interest Paid InterestPaid $171.00M USD 1 Quarter
Interest Paid InterestPaid $164.00M USD 1 Quarter
Income Taxes Paid, Net of Refunds IncomeTaxesPaidNet $61.00M USD 1 Quarter
Income Taxes Paid, Net of Refunds IncomeTaxesPaidNet $88.00M USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net Loss ProfitLoss $-491.00M USD 1 Quarter
Net Loss ProfitLoss $-107.00M USD 1 Quarter
Currency Translation Adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $142.00M USD 1 Quarter
Currency Translation Adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-345.00M USD 1 Quarter
Defined Benefit Pension Activity OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-22.00M USD 1 Quarter
Defined Benefit Pension Activity OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax - USD 1 Quarter
Other OtherComprehensiveIncomeOtherNetOfTax $1.00M USD 1 Quarter
Other OtherComprehensiveIncomeOtherNetOfTax - USD 1 Quarter
Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $143.00M USD 1 Quarter
Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $-323.00M USD 1 Quarter
Comprehensive Loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-348.00M USD 1 Quarter
Comprehensive Loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-430.00M USD 1 Quarter
Comprehensive Income Attributable to Noncontrolling Interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Comprehensive Income Attributable to Noncontrolling Interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $7.00M USD 1 Quarter
Comprehensive Loss Attributable to Weatherford ComprehensiveIncomeNetOfTax $-355.00M USD 1 Quarter
Comprehensive Loss Attributable to Weatherford ComprehensiveIncomeNetOfTax $-441.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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