10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

(Mark One) Form 10-Q

þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended March 31, 2015
	or
¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from __________________________________to __________________________________
	Commission file number 001-36504

Weatherford International public limited company

(Exact Name of Registrant as Specified in Its Charter)

Ireland	98-0606750
(State or Other Jurisdiction of Incorporation or Organization)	(IRS Employer Identification No.)
Bahnhofstrasse 1, 6340 Baar, Switzerland	CH 6340
(Address of Principal Executive Offices including Zip Code)	(Zip Code)

Registrant’s Telephone Number, Including Area Code: +41.22.816.1500

N/A

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þ Accelerated filer o Non-accelerated filer o Smaller reporting company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

As of April 13, 2015, there were 774,681,386 shares of Weatherford registered shares, $0.001 par value per share, outstanding.

Weatherford International public limited company

Form 10-Q for the Three Months Ended March 31, 2015

TABLE OF CONTENTS	PAGE
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.	2
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.	26
Item 3. Quantitative and Qualitative Disclosures About Market Risk.	39
Item 4. Controls and Procedures.	39
PART II – OTHER INFORMATION
Item 1. Legal Proceedings.	40
Item 1A. Risk Factors.	40
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	40
Item 3. Defaults Upon Senior Securities.	40
Item 4. Mine Safety Disclosures.	40
Item 5. Other Information.	40
Item 6. Exhibits.	41
SIGNATURES	42

1

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	Three Months Ended March 31,
(Dollars and shares in millions, except per share amounts)	2015			2014
Revenues:
Products	$	1,040		$	1,446
Services	1,754			2,150
Total Revenues	2,794			3,596
Costs and Expenses:
Cost of Products	903			1,064
Cost of Services	1,299			1,775
Research and Development	64			69
Selling, General and Administrative Attributable to Segments	363			414
Corporate General and Administrative	77			74
Restructuring Charges	41			70
Gain on Sale of Business, Net	(3		)	—
Total Costs and Expenses	2,744			3,466
Operating Income	50			130
Other Income (Expense):
Interest Expense, Net	(120		)	(126		)
Devaluation of Venezuelan Bolivar	(26		)	—
Other, Net	(11		)	(9		)
Loss Before Income Taxes	(107		)	(5		)
Provision for Income Taxes	—			(27		)
Net Loss	(107		)	(32		)
Net Income Attributable to Noncontrolling Interests	(11		)	(9		)
Net Loss Attributable to Weatherford	$	(118	)	$	(41	)
Loss Per Share Attributable to Weatherford:
Basic and Diluted	$	(0.15	)	$	(0.05	)
Weighted Average Shares Outstanding:
Basic and Diluted	778			776

The accompanying notes are an integral part of these condensed consolidated financial statements.

2

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

	Three Months Ended March 31,
(Dollars in millions)	2015			2014
Net Loss	$	(107	)	$	(32	)
Other Comprehensive Loss, Net of Tax:
Currency Translation Adjustments	(345		)	(202		)
Defined Benefit Pension Activity	22			—
Other Comprehensive Loss	(323		)	(202		)
Comprehensive Loss	(430		)	(234		)
Comprehensive Income Attributable to Noncontrolling Interests	(11		)	(9		)
Comprehensive Loss Attributable to Weatherford	$	(441	)	$	(243	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31,			December 31,
(Dollars and shares in millions, except par value)	2015			2014
	(Unaudited)
Current Assets:
Cash and Cash Equivalents	$	512		$	474
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $111 and $108	2,631			3,015
Inventories, Net	3,052			3,087
Deferred Tax Assets	294			303
Other Current Assets	1,103			1,065
Total Current Assets	7,592			7,944
Property, Plant and Equipment, Net of Accumulated Depreciation of $6,976 and $6,895	6,932			7,123
Goodwill	2,905			3,011
Other Intangible Assets, Net of Accumulated Amortization of $746 and $744	406			440
Equity Investments	101			106
Other Non-Current Assets	287			265
Total Assets	$	18,223		$	18,889
Current Liabilities:
Short-term Borrowings and Current Portion of Long-term Debt	$	1,554		$	727
Accounts Payable	1,462			1,736
Accrued Salaries and Benefits	387			425
Income Taxes Payable	198			230
Other Current Liabilities	792			909
Total Current Liabilities	4,393			4,027
Long-term Debt	6,278			6,798
Other Non-Current Liabilities	954			1,031
Total Liabilities	11,625			11,856
Shareholders’ Equity:
Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 774 shares at March 31, 2015 and December 31, 2014	1			1
Capital in Excess of Par Value	5,423			5,411
Retained Earnings	2,309			2,427
Accumulated Other Comprehensive Loss	(1,204		)	(881		)
Weatherford Shareholders’ Equity	6,529			6,958
Noncontrolling Interests	69			75
Total Shareholders’ Equity	6,598			7,033
Total Liabilities and Shareholders’ Equity	$	18,223		$	18,889

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Three Months Ended March 31,
(Dollars in millions)	2015			2014
Cash Flows From Operating Activities:
Net Loss	$	(107	)	$	(32	)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation and Amortization	316			351
Employee Share-Based Compensation Expense	15			15
Deferred Income Tax Provision (Benefit)	(36		)	44
Devaluation of Venezuelan Bolivar	26			—
Other, Net	78			27
Change in Operating Assets and Liabilities, Net of Effect of Businesses Acquired:
Accounts Receivable	320			(167		)
Inventories	(32		)	(65		)
Other Current Assets	(63		)	(7		)
Accounts Payable	(251		)	(52		)
Billings in Excess of Costs and Estimated Earnings	1			(53		)
Other Current Liabilities	(238		)	(375		)
Other, Net	(71		)	(92		)
Net Cash Used in Operating Activities	(42		)	(406		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(224		)	(286		)
Acquisition of Intellectual Property	—			(2		)
Proceeds from Sale of Assets and Businesses, Net	3			14
Net Cash Used in Investing Activities	(221		)	(274		)
Cash Flows From Financing Activities:
Repayments of Long-term Debt, Net	(154		)	(17		)
Borrowings of Short-term Debt, Net	479			625
Other Financing Activities, Net	(18		)	(3		)
Net Cash Provided by Financing Activities	307			605
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6		)	7
Net Increase (Decrease) in Cash and Cash Equivalents	38			(68		)
Cash and Cash Equivalents at Beginning of Period	474			435
Cash and Cash Equivalents at End of Period	$	512		$	367
Supplemental Cash Flow Information:
Interest Paid	$	171		$	179
Income Taxes Paid, Net of Refunds	$	88		$	103

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.  General

The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company”) are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments of a normal recurring nature which, in our opinion, are necessary to present fairly our Condensed Consolidated Balance Sheet at March 31, 2015 and December 31, 2014, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Income (Loss) and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2015 and 2014. When referring to “Weatherford” and using phrases such as “we,” “us,” and “our,” the intent is to refer to Weatherford International plc, a public limited company organized under the law of Ireland, and its subsidiaries as a whole or on a regional basis, depending on the context in which the statements are made.

Although we believe the disclosures in these financial statements are adequate, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in this Form 10-Q pursuant to U.S. Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or market of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Change in Reportable Segments

During the first quarter of 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments. We have recast prior periods to conform to the current business segment presentation. See “Note 14 – Segment Information” for additional information.

Principles of Consolidation

We consolidate all wholly-owned subsidiaries, controlled joint ventures and variable interest entities where the Company has determined it is the primary beneficiary. Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation.

Devaluation of Venezuelan Bolivar and Inflationary Impacts

A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2015, replacing the Venezuela’s Supplementary Foreign Currency Administration System auction rate (“SICAD”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. In the first quarter of 2015, we recognized remeasurement charges of $26 million and will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate. At March 31, 2015 our net monetary asset position denominated in Venezuelan bolivar was approximately $11 million. 

6

2.  Business Combinations

Acquisitions & Divestitures

From time to time, we acquire assets and businesses we believe are important to our long-term strategy or dispose of assets and businesses that are no longer a strategic fit within our business. We did not complete any acquisitions or divestitures during the quarters ended March 31, 2015 and March 31, 2014.

In May 2012, we acquired a company that designs and produces well completion tools. Our purchase consideration included a contingent consideration arrangement valued at approximately $3 million at December 31, 2014. At March 31, 2015, the contingent consideration arrangement was valued at approximately $12 million. The arrangement will be settled in 2016.

3. Restructuring Charges

In the fourth quarter of 2014, in response to the significant decline in the price of crude oil and our anticipation of a lower level of exploration and production spending in 2015, we initiated a plan to reduce our overall costs and workforce to better align with anticipated activity levels. This cost reduction plan (the “2015 Plan”) includes a workforce reduction and other cost reduction measures initiated across our geographic regions. In connection with the 2015 Plan, we recognized restructuring charges of $41 million in the three months ended March 31, 2015. Our restructuring charges include termination (severance) benefits of $40 million and other restructuring charges of $1 million. Other restructuring charges include contract termination costs, relocation and other associated costs.

In the first quarter of 2014, we announced a cost reduction plan (the “2014 Plan”), which included a worldwide workforce reduction and other cost reduction measures. The 2014 Plan resulted in restructuring charges of $70 million primarily related to termination (severance) benefits in the three months ended March 31, 2014. As of December 31, 2014, we completed our planned headcount reductions and closures of underperforming operating locations in connection with the 2014 Plan.

The following tables present the components of the 2015 Plan and the 2014 Plan restructuring charges by segment for the three months ended March 31, 2015 and 2014.

	Three Months Ended March 31, 2015
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2015 Plan	Charges		Charges		Other Charges
North America	$	8	$	—	$	8
MENA/Asia Pacific	5		1		6
Europe/SSA/Russia	7		—		7
Latin America	12		—		12
Subtotal	32		1		33
Land Drilling Rigs	5		—		5
Corporate and Research and Development	3		—		3
Total	$	40	$	1	$	41

7

	Three Months Ended March 31, 2014
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2014 Plan	Charges		Charges		Other Charges
North America	$	9	$	—	$	9
MENA/Asia Pacific	4		—		4
Europe/SSA/Russia	15		4		19
Latin America	19		—		19
Subtotal	47		4		51
Land Drilling Rigs	3		—		3
Corporate and Research and Development	16		—		16
Total	$	66	$	4	$	70

The severance and other restructuring charges gave rise to certain liabilities, the components of which are summarized below, and largely relate to the severance accrued as part of both plans that will be paid pursuant to the respective arrangements and statutory requirements.

	Three Months Ended March 31, 2015
	2015 Plan				2014 Plan				Total Severance
			Other				Other		and Other
	Severance		Restructuring		Severance		Restructuring		Restructuring
(Dollars in millions)	Liability		Liability		Liability		Liability		Liability
North America	$	16	$	—	$	—	$	1	$	17
MENA/Asia Pacific	6		1		1		4		12
Europe/SSA/Russia	7		—		—		4		11
Latin America	3		—		—		—		3
Subtotal	32		1		1		9		43
Land Drilling Rigs	1		—		—		—		1
Corporate and Research and Development	—		—		5		—		5
Total	$	33	$	1	$	6	$	9	$	49

The following table presents the restructuring liability activity for the three months ended March 31, 2015.

			Three Months Ended March 31, 2015
(Dollars in millions)	Accrued Balance at December 31, 2014		Charges		Cash Payments			Other			Accrued Balance at March 31, 2015
2015 Plan:
Severance liability	$	53	$	40	$	(58	)	$	(2	)	$	33
Other restructuring liability	—		1		—			—			1
2014 Plan:
Severance liability	14		—		(6		)	(2		)	6
Other restructuring liability	12		—		(1		)	(2		)	9
Total severance and other restructuring liability	$	79	$	41	$	(65	)	$	(6	)	$	49

8

4.  Percentage of Completion Contracts

In the three months ended March 31, 2015, we recognized estimated project income of $42 million related to our long-term early production facility construction contract in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these loss projects were $337 million at March 31, 2015.

As of March 31, 2015, our percentage-of-completion project estimates include $137 million of claims revenue and $26 million of back charges. We have a variety of unapproved contract change orders or claims that are not included in our revenues as of March 31, 2015. The amounts associated with these contract change orders or claims are included in revenue only when they can be estimated reliably and their realization is reasonably assured. During the three months ended March 31, 2015, an additional $53 million of claims revenue was included in our project estimates of which $6 million were approved. Our costs in excess of billings as of March 31, 2015 were $207 million and are included in the “Other Current Assets” line on the balance sheet.

In the three months ended March 31, 2014, we recognized estimated project losses of $26 million related to our long-term early production facility construction contracts in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these projects were $333 million at March 31, 2014. As of March 31, 2014, our percentage-of-completion project estimates include $64 million of claims revenue. Claims revenue of $28 million was recognized during the three months ended March 31, 2014.

5.  Inventories, Net

Inventories, net of reserves, by category were as follows:

(Dollars in millions)	March 31, 2015		December 31, 2014
Raw materials, components and supplies	$	170	$	194
Work in process	117		135
Finished goods	2,765		2,758
	$	3,052	$	3,087

6.  Goodwill

We perform an impairment test for goodwill and indefinite-lived intangible assets annually as of October 1, or more frequently if indicators of potential impairment exist. Due to the change in our reporting segments (See “Note 14 – Segment Information”) we now report Land Drilling Rigs as a segment. The goodwill associated with the Land Drilling Rigs reporting unit was previously impaired in 2014.

The changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2015 were as follows:

(Dollars in millions)	North America			MENA/ Asia Pacific			Europe/ SSA/ Russia			Latin America			Land Drilling Rigs		Total
Balance at December 31, 2014	$	1,896		$	195		$	623		$	297		$	—	$	3,011
Foreign currency translation adjustments	(73		)	(3		)	(25		)	(5		)	—		(106		)
Balance at March 31, 2015	$	1,823		$	192		$	598		$	292		$	—	$	2,905

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7.  Short-term Borrowings and Current Portion of Long-term Debt

(Dollars in millions)	March 31, 2015		December 31, 2014
Commercial paper program	$	130	$	245
Revolving credit facility	625		—
364-day term loan facility	175		175
Other short-term bank loans	228		257
Total short-term borrowings	1,158		677
Current portion of long-term debt	396		50
Short-term borrowings and current portion of long-term debt	$	1,554	$	727

Revolving Credit Facility

We maintain a $2.25 billion unsecured, revolving credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, scheduled to mature July 13, 2016. The Credit Agreement can be used for a combination of borrowings, support for our $2.25 billion commercial paper program and issuances of letters of credit. This agreement requires that we maintain a debt-to-total capitalization ratio of less than 60%. We were in compliance with this covenant at March 31, 2015. At March 31, 2015, we had $1.5 billion available under the Credit Agreement and there were $28 million in outstanding letters of credit in addition to the commercial paper and borrowings under the revolving credit facility.

364-Day Term Loan Facility

As of March 31, 2015, we had a $400 million, 364-day term loan facility with a syndicate of banks that matured on April 9, 2015. As of March 31, 2015, we had borrowings of $175 million drawn on this facility. The 364-day term loan facility included the same debt-to-capitalization requirement that is contained in our Credit Agreement, with which we are in compliance. On April 9, 2015, we paid the outstanding balance of $175 million on this term loan facility.

Other Short-Term Borrowings and Other Debt Activity

We have short-term borrowings with various domestic and international institutions pursuant to uncommitted and letter of credit facilities. At March 31, 2015, we had $228 million in short-term borrowings under these arrangements, including $180 million borrowed under a credit agreement entered into in March 2014 that matures on March 20, 2016, with a Libor-based interest rate of 1.57% as of March 31, 2015. In addition, we had $573 million of letters of credit under various uncommitted facilities and $278 million of surety bonds, primarily performance bonds, issued by financial sureties against an indemnification from us at March 31, 2015.

The carrying value of our short-term borrowings approximates their fair value as of March 31, 2015. The current portion of long-term debt at March 31, 2015 is primarily related to our 5.5% senior notes maturing February 2016 and our capital leases.

In the first three months of 2015, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes, 6.5% senior notes and 6.75% senior notes with a total book value of $160 million. We recognized a cumulative gain of approximately $12 million on these transactions.

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8.  Fair Value of Financial Instruments

Financial Instruments Measured and Recognized at Fair Value

We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Other than the derivative instruments discussed in “Note 9 – Derivative Instruments,” we had no other material assets or liabilities measured and recognized at fair value on a recurring basis at March 31, 2015 and December 31, 2014.

Fair Value of Other Financial Instruments

Our other financial instruments include short-term borrowings and long-term debt. The carrying value of our commercial paper and other short-term borrowings approximates their fair value due to the short-term duration of the associated interest rate periods. These short-term borrowings are classified as Level 2 in the fair value hierarchy.

The fair value of our long-term debt fluctuates with changes in applicable interest rates among other factors. Fair value will exceed carrying value when the current market interest rate is lower than the interest rate at which the debt was originally issued. The fair value of our long-term debt is classified as Level 2 in the fair value hierarchy and is a measure of its current value under present market conditions and is established based on observable inputs in less active markets. 

The fair value and carrying value of our senior notes were as follows: 

(Dollars in millions)	March 31, 2015		December 31, 2014
Fair value	$	6,592	$	6,733
Carrying value	6,498		6,660

9.  Derivative Instruments

We are exposed to market risk from changes in foreign currency and changes in interest rates. From time to time, we may enter into derivative financial instrument transactions to manage or reduce our market risk. We manage our debt portfolio to achieve an overall desired position of fixed and floating rates, and we may employ interest rate swaps as a tool to achieve that goal. The major risks from interest rate derivatives include changes in the interest rates affecting the fair value of such instruments, potential increases in interest expense due to market increases in floating interest rates and the creditworthiness of the counterparties in such transactions. In light of events in the global credit markets and the potential impact of these events on the liquidity of the banking industry, we continue to monitor the creditworthiness of our counterparties, which are multinational commercial banks. The fair values of all our outstanding derivative instruments are determined using a model with Level 2 inputs including quoted market prices for contracts with similar terms and maturity dates. Level 2 values for financial assets and liabilities are based on quoted prices in inactive markets, or whose values are based on models. Level 2 inputs to those models are observable either directly or indirectly for substantially the full term of the asset or liability. 

Fair Value Hedges

We may use interest rate swaps to help mitigate exposures related to changes in the fair values of the associated debt. Amounts paid or received upon termination of interest rate swaps accounted for as fair value hedges represent the fair value of the agreements at the time of termination and are amortized as a reduction, in the case of gains, or as an increase, in the case of losses, of interest expense over the remaining term of the debt. As of March 31, 2015, we had net unamortized gains of $31 million associated with interest rate swap terminations. These gains are being amortized over the remaining term of the originally hedged debt as a reduction in interest expense.

11

Other Derivative Instruments

We enter into contracts to hedge our exposure to currency fluctuations in various foreign currencies. At March 31, 2015 and December 31, 2014, we had outstanding foreign currency forward contracts with notional amounts aggregating $1.3 billion and $1.6 billion, respectively. The notional amounts of our foreign currency forward contracts do not generally represent amounts exchanged by the parties and, thus are not a measure of the cash requirements related to these contracts or of any possible loss exposure. The amounts actually exchanged are calculated by reference to the notional amounts and by other terms of the derivative contracts, such as exchange rates.

At December 31, 2014, to hedge our exposure to the Canadian dollar, we held cross-currency swaps between the U.S. dollar and Canadian dollar with a notional amount of $168 million. We settled the cross-currency swap arrangements in the three months ended March 31, 2015 after recognizing a mark-to-market gain of $13 million. We collected $8 million in proceeds upon settlement.

Our foreign currency forward contracts and cross-currency swaps were not designated as hedges, and the changes in fair value of the contracts are recorded each period in current earnings in the line captioned “Other, Net” on the accompanying Condensed Consolidated Statements of Operations.

The total estimated fair values of these foreign currency forward contracts and amounts receivable or owed associated with closed foreign currency contracts and the total estimated fair values of our cross-currency contracts are as follows:

(Dollars in millions)	March 31, 2015			December 31, 2014			Classification
Derivative assets not designated as hedges:
Foreign currency forward contracts	$	5		$	12		Other Current Assets
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(19		)	(17		)	Other Current Liabilities
Cross-currency swap contracts	—			(5		)	Other Liabilities

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Condensed Consolidated Statements of Operations was as follows:

	Gain (Loss) Recognized in Income
	Three Months Ended March 31,
(Dollars In millions)	2015			2014			Classification
Derivatives designated as fair value hedges:
Interest rate swaps	$	2		$	2		Interest Expense, Net
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(66		)	(11		)	Other, Net
Cross-currency swap contracts	13			9			Other, Net

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10. Income Taxes

We estimate our annual effective tax rate based on year-to-date operating results and our forecast of operating results for the remainder of the year, by jurisdiction, and apply this rate to the year-to-date operating results. If our actual results, by jurisdiction, differ from the forecasted operating results, our effective tax rate can change affecting the tax expense for both successive interim results as well as the annual tax results. For the three months ended March 31, 2015, we had zero tax provision on a loss before income taxes of $107 million. Our results for the three months ended March 31, 2015 were impacted by discrete loss before tax items, including restructuring charges of $41 million and devaluation of Venezuela Bolivar of $26 million, all with no significant tax benefit.

We are continuously under tax examination in various jurisdictions. We cannot predict the timing or outcome regarding resolution of these tax examinations or if they will have a material impact on our financial statements. We continue to anticipate a possible reduction in the balance of uncertain tax positions by approximately $14 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

For the three months ended March 31, 2014, we had a tax provision of $27 million on a loss before income taxes of $5 million. Our results were impacted by discrete income before tax items, including restructuring charges and project losses of approximately $116 million, with no significant tax benefit.

11.  Shareholders’ Equity

The following summarizes our shareholders’ equity activity for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Par Value of Issued Shares		Capital In Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Shares			Non-controlling Interests			Total Shareholders’ Equity
Balance at December 31, 2013	$	775	$	4,600	$	3,011		$	(187	)	$	(37	)	$	41		$	8,203
Net Income (Loss)	—		—		(41		)	—			—			9			(32		)
Other Comprehensive Loss	—		—		—			(202		)	—			—			(202		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(6		)	(6		)
Equity Awards Granted, Vested and Exercised	2		3		—			—			3			—			8
Balance at March 31, 2014	$	777	$	4,603	$	2,970		$	(389	)	$	(34	)	$	44		$	7,971
Balance at December 31, 2014	$	1	$	5,411	$	2,427		$	(881	)	$	—		$	75		$	7,033
Net Income (Loss)	—		—		(118		)	—			—			11			(107		)
Other Comprehensive Loss	—		—		—			(323		)	—			—			(323		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(18		)	(18		)
Equity Awards Granted, Vested and Exercised	—		12		—			—			—			—			12
Other	—		—		—			—			—			1			1
Balance at March 31, 2015	$	1	$	5,423	$	2,309		$	(1,204	)	$	—		$	69		$	6,598

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The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2013	$	(140	)	$	(38	)	$	(9	)	$	(187	)
Other comprehensive loss	(202		)	—			—			(202		)
Balance at March 31, 2014	$	(342	)	$	(38	)	$	(9	)	$	(389	)
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)
Other comprehensive income (loss) before reclassifications	(345		)	20			—			(325		)
Reclassifications	—			2			—			2
Net activity	(345		)	22			—			(323		)
Balance at March 31, 2015	$	(1,158	)	$	(35	)	$	(11	)	$	(1,204	)

The other comprehensive income before reclassifications from the defined benefit pension component of other comprehensive income relates to the conversion of one of our international pension plans from a defined benefit plan to a defined contribution plan.

12.  Earnings per Share

Basic earnings per share for all periods presented equals net income divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of our shares outstanding during the period including participating securities, adjusted for the dilutive effect of our stock options, restricted shares and performance units.

The following discloses basic and diluted weighted average shares outstanding:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Basic and diluted weighted average shares outstanding	778	776

Our basic and diluted weighted average shares outstanding for the periods presented are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the three months ended March 31, 2015 and 2014 exclude potential shares for stock options, restricted shares and performance units outstanding as we have net losses for that period and their inclusion would be anti-dilutive.

The following table discloses the number of anti-dilutive shares excluded:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Anti-dilutive potential shares due to net loss	2	5

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13. Share-Based Compensation

We recognized the following employee share-based compensation expense during the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(Dollars in millions)	2015		2014
Share-based compensation	$	15	$	15
Related tax benefit	3		3

During the three months ended March 31, 2015, we granted approximately 1.6 million performance units, which will vest with continued employment, if the Company meets certain market-based performance goals. The performance units have a weighted average grant date fair value of $10.45 per share based on the Monte Carlo simulation method. The assumptions used in the Monte Carlo simulation included a risk-free rate of 0.51%, volatility of 46.1% and a zero dividend yield. As of March 31, 2015, there was $23 million of unrecognized compensation related to our performance units. This cost is expected to be recognized over a weighted average period of 2 years.

During the three months ended March 31, 2015, we also granted 1.7 million restricted shares at a weighted average grant date fair value of $11.46 per share. As of March 31, 2015, there was $81 million of unrecognized compensation related to our unvested restricted share grants. This cost is expected to be recognized over a weighted average period of 2 years.

14. Segment Information

Change in Reportable Segments

In the three months ended March 31, 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments which are North America, MENA/Asia Pacific, Europe/SSA/Russia, Latin America and Land Drilling Rigs. The operational performance of our segments is reviewed and managed primarily on a geographic basis, and we report the regional segments as separate, distinct reporting segments. In addition, the operations we intend to divest, in the case of our Land Drilling Rigs business, is reviewed and managed apart from our regional segments in the Land Drilling Rigs segment. Our corporate and other expenses that do not individually meet the criteria for group presentation continue to be reported separately as Corporate and Research and Development. Each business reflects a reportable segment led by separate business segment management that reports directly or indirectly to our chief operating decision maker (“CODM”). Our CODM assesses performance and allocates resources on the basis of the five reportable segments. We have revised our business segment reporting to reflect our current management approach and recast prior periods to conform to the current business segment presentation.

15

Financial information by segment is summarized below. Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our Form 10-K.

	Three Months Ended March 31, 2015
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,163	$	(10	)	$	105
MENA/Asia Pacific	533		60			65
Europe/SSA/Russia	417		71			50
Latin America	486		98			61
Subtotal	2,599		219			281
Land Drilling Rigs	195		10			29
	2,794		229			310
Corporate and Research and Development			(120		)	6
Restructuring Charges (a)			(41		)
Gain on Sale of Business, Net			3
Other Items (b)			(21		)
Total	$	2,794	$	50		$	316

(a) For the three months ended March 31, 2015, we recognized restructuring charges of $41 million: $8 million in North America, $6 million in MENA/Asia Pacific, $7 million in Europe/SSA/Russia, $12 million in Latin America, $5 million in Land Drilling Rigs and $3 million in Corporate and Research and Development.

(b) The three months ended March 31, 2015 includes professional fees of $13 million related to the divestiture of our non-core businesses, restatement related litigation, post-settlement monitor and auditor expenses and other charges of $8 million.

	Three Months Ended March 31, 2014
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,610	$	196		$	107
MENA/Asia Pacific	619		5			72
Europe/SSA/Russia	516		78			54
Latin America	509		90			58
Subtotal	3,254		369			291
Land Drilling Rigs	342		(27		)	54
	3,596		342			345
Corporate and Research and Development			(116		)	6
Restructuring Charges (c)			(70		)
Other Items (d)			(26		)
Total	$	3,596	$	130		$	351

(c) For the three months ended March 31, 2014, we recognized restructuring charges of $70 million: $9 million in North America, $4 million in MENA/Asia Pacific, $19 million in Europe/SSA/Russia, $19 million in Latin America, $3 million in Land Drilling Rigs and $16 million in Corporate and Research and Development.

(d) The three months ended March 31, 2014 includes professional fees of $23 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations and redomestication and other charges of $3 million.

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The following table presents total assets by segment for each period ended:

	Total Assets
	March 31,		December 31,
(Dollars in millions)	2015		2014
North America	$	6,675	$	7,297
MENA/Asia Pacific	3,006		3,022
Europe/SSA/Russia	3,132		3,106
Latin America	3,163		3,211
Subtotal	15,976		16,636
Land Drilling Rigs	1,880		1,907
	17,856		18,543
Corporate and Research and Development	367		346
Total	$	18,223	$	18,889

Total assets in the United States, which is part of our North America segment, were $5.7 billion and $6.1 billion as of March 31, 2015 and December 31, 2014, respectively. The remaining North America total assets balance of $1 billion and $1.2 billion, respectively as of March 31, 2015 and December 31, 2014, is related to our operations in Canada.

15. Disputes, Litigation and Contingencies

Shareholder Litigation

In 2010, three shareholder derivative actions were filed, purportedly on behalf of the Company, asserting breach of duty and other claims against certain current and former officers and directors of the Company related to the United Nations oil-for-food program governing sales of goods into Iraq, the FCPA and trade sanctions related to the U.S. government investigations disclosed above and in our U.S. Securities and Exchange Commission (the “SEC”) filings since 2007. Those shareholder derivative cases, captioned Neff v. Brady, et al., No. 201040764, Rosner v. Brady, et al., No. 201047343, and Hess v. Duroc-Danner, et al., No. 201040765, were filed in Harris County, Texas state court and consolidated (collectively referred to as the “Neff Case”). In 2014, one of the three cases, Hess v. Duroc-Danner, et al., No. 201040765, was voluntarily dismissed from the Neff Case. Other shareholder demand letters covering the same subject matter were received by the Company in early 2014, and a fourth shareholder derivative action was filed, purportedly on behalf of the Company, also asserting breach of duty and other claims against certain current and former officers and directors of the Company related to the same subject matter as the Neff Case. That case, captioned Erste-Sparinvest KAG v. Duroc-Danner, et al., No. 201420933 (Harris County, Texas) was consolidated into the Neff Case in September 2014. A motion to dismiss the consolidated action is pending.

In March 2012, a purported securities class action captioned Freedman v. Weatherford International Ltd., et al., No. 1:12-cv-02121-LAK (SDNY) was filed in the Southern District of New York against us and certain current and former officers. That case alleges violation of the federal securities laws related to the restatement of our historical financial statements announced on February 21, 2012, and later added claims related to the announcement of a subsequent restatement on July 24, 2012. In the three months ended December 31, 2014, we advanced settlement negotiations such that settlement is deemed probable and we continue to maintain an accrual of the estimated probable loss.

We cannot reliably predict the outcome of these cases including the amount of any possible loss. If one or more negative outcomes were to occur relative to these cases, the aggregate impact to our financial condition could be material.

In March 2011, a shareholder derivative action, Iron Workers Mid-South Pension Fund v. Duroc-Danner, et al., No. 201119822, was filed in Harris County, Texas, civil court purportedly on behalf of the Company against certain current and former officers and directors, alleging breaches of duty related to the material weakness and restatement announcements. In February 2012, a second substantially similar shareholder derivative action, Wandel v. Duroc-Danner, et al., No. 1:12-cv-01305-LAK (SDNY), was filed in federal court in the Southern District of New York. In June 2014, the parties signed a term sheet resolving the action for an agreed upon set of revised corporate procedures, no monetary payment by the defendants, and an award of attorneys’ fees for the planitiff’s counsel. In March 2015, the court approved notice to the class of the proposed settlement and set the final hearing for June 24, 2015. We maintain an immaterial accrual for the attorney’s fees included in the proposed settlement.

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In March 2011, a purported shareholder class action captioned Dobina v. Weatherford International Ltd., et al., No. 1:11-cv-01646-LAK (SDNY), was filed in the U.S. District Court for the Southern District of New York, following our announcement on March 1, 2011 of a material weakness in our internal controls over financial reporting for income taxes, and restatement of our historical financial statements (the “2011 Class Action”). The lawsuit alleged violation of the federal securities laws by us and certain current and former officers. During the three months ended December 31, 2013, we entered into negotiations to settle the 2011 Class Action. As a result of these negotiations, settlement became probable and a settlement agreement was signed on January 29, 2014. The settlement was approved by the U.S. District Court for the Southern District of New York on January 5, 2015, and final judgment entered on January 30, 2015. The settlement agreement required payments totaling $53 million which was entirely funded by our insurers.

U.S. Government and Internal Investigations

On January 17, 2014, the U.S. District Court for the Southern District of Texas approved the settlement agreements between us and certain of our subsidiaries and the U.S. Department of Justice (“DOJ”). On November 26, 2013, we announced that we and our subsidiaries also entered into settlement agreements with the U.S. Departments of Treasury and Commerce and with the SEC, which the U.S. District Court for the Southern District of Texas entered on December 20, 2013. These agreements collectively resolved investigations of prior alleged violations by us and certain of our subsidiaries relating to certain trade sanctions laws, participation in the United Nations oil-for-food program governing sales of goods into Iraq and non-compliance with FCPA matters. 

The $253 million payable by us and our subsidiaries was paid in January and February 2014 pursuant to the terms of the settlement agreements. These agreements include a requirement to retain, for a period of at least 18 months, an independent monitor responsible for assessing our compliance with the terms of the agreement so as to address and reduce the risk of recurrence of alleged misconduct, after which we would continue to evaluate our own compliance program and make periodic reports to the DOJ and SEC and maintain agreed compliance monitoring and reporting systems, all of which is costly to us. In April 2014, the independent monitor was retained and the compliance assessment period began. These agreements also require us to retain an independent third party to retroactively audit our compliance with U.S. export control laws during the years 2012, 2013 and 2014. This audit is on-going.

The SEC and DOJ are also investigating the circumstances surrounding the material weakness in our internal controls over financial reporting for income taxes that was disclosed in a notification of late filing on Form 12b-25 filed on March 1, 2011 and in current reports on Form 8-K filed on February 21, 2012 and on July 24, 2012 and the subsequent restatements of our historical financial statements. We are cooperating fully with these investigations. We are unable to predict the outcome of these matters due to the inherent uncertainties presented by such investigations, and we are unable to predict potential outcomes or estimate the range of potential loss contingencies, if any. The government, generally, has a broad range of civil and criminal penalties available for these types of matters under applicable law and regulation, including injunctive relief, fines, penalties and modifications to business practices, some of which, if imposed on us, could be material to our business, financial condition or results of operations.

Additionally, we are aware of various disputes and potential claims and are a party in various litigation involving claims against us, some of which are covered by insurance. For claims, disputes and pending litigation in which we believe a negative outcome is probable and a loss can be reasonably estimated, we have recorded a liability for the expected loss. These liabilities are immaterial to our financial condition and results of operations. In addition we have certain claims, disputes and pending litigation regarding which we do not believe a negative outcome is probable or for which we can only estimate a range of liability. It is possible, however, that an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, that would result in liability that could be uninsured and beyond the amounts we currently have reserved and in some cases those losses could be material. If one or more negative outcomes were to occur relative to these matters, the aggregate impact to our financial condition could be material.

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16. New Accounting Pronouncements

In April 2015, the FASB issued new guidance related to presentation of debt issue costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related Note disclosures.

In February 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related Note disclosures.

In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non public entities reporting under U.S. GAAP. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements or Note disclosures.

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17. Condensed Consolidating Financial Statements

Weatherford International plc (“Weatherford Ireland”), a public limited company organized under the laws of Ireland, a Swiss tax resident, and the ultimate parent of the Weatherford group, guarantees the obligations of our subsidiaries – Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”), and Weatherford International, LLC, a Delaware limited liability company (“Weatherford Delaware”), including the notes and credit facilities listed below.

The following obligations of Weatherford Delaware were guaranteed by Weatherford Bermuda at March 31, 2015 and December 31, 2014: (1) 6.35% senior notes and (2) 6.80% senior notes.

The following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at March 31, 2015 and December 31, 2014: (1) revolving credit facility, (2) 5.50% senior notes, (3) 6.50% senior notes, (4) 6.00% senior notes, (5) 7.00% senior notes, (6) 9.625% senior notes, (7) 9.875% senior notes, (8) 5.125% senior notes, (9) 6.75% senior notes, (10) 4.50% senior notes and (11) 5.95% senior notes. In 2014, we refinanced the 364-day term loan facility with a new 364-day term loan facility, which was an obligation of Weatherford Bermuda guaranteed by Weatherford Delaware as of March 31, 2015.

As a result of certain of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The accompanying guarantor financial information is presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for our share in the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries relate primarily to the elimination of investments in subsidiaries and associated intercompany balances and transactions.

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations		Consolidation
Revenues	$	—		$	—		$	—		$	2,794		$	—	$	2,794
Costs and Expenses	(7		)	—			—			(2,737		)	—		(2,744		)
Operating Income (Loss)	(7		)	—			—			57			—		50
Other Income (Expense):
Interest Expense, Net	—			(104		)	(13		)	(3		)	—		(120		)
Intercompany Charges, Net	—			(15		)	—			15			—		—
Equity in Subsidiary Income	(111		)	75			(25		)	—			61		—
Other, Net	—			(20		)	—			(17		)	—		(37		)
Income (Loss) Before Income Taxes	(118		)	(64		)	(38		)	52			61		(107		)
(Provision) Benefit for Income Taxes	—			—			5			(5		)	—		—
Net Income (Loss)	(118		)	(64		)	(33		)	47			61		(107		)
Noncontrolling Interests	—			—			—			(11		)	—		(11		)
Net Income (Loss) Attributable to Weatherford	$	(118	)	$	(64	)	$	(33	)	$	36		$	61	$	(118	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(441	)	$	(156	)	$	(69	)	$	(286	)	$	511	$	(441	)

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Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	—		$	—		$	3,596		$	—		$	3,596
Costs and Expenses	(19		)	—			(1		)	(3,446		)	—			(3,466		)
Operating Income (Loss)	(19		)	—			(1		)	150			—			130
Other Income (Expense):
Interest Expense, Net	—			(105		)	(15		)	(6		)	—			(126		)
Intercompany Charges, Net	—			7,348			—			(7,348		)	—			—
Equity in Subsidiary Income	(21		)	80			11			—			(70		)	—
Other, Net	(1		)	(4		)	—			(4		)	—			(9		)
Income (Loss) Before Income Taxes	(41		)	7,319			(5		)	(7,208		)	(70		)	(5		)
(Provision) Benefit for Income Taxes	—			—			6			(33		)	—			(27		)
Net Income (Loss)	(41		)	7,319			1			(7,241		)	(70		)	(32		)
Noncontrolling Interests	—			—			—			(9		)	—			(9		)
Net Income (Loss) Attributable to Weatherford	$	(41	)	$	7,319		$	1		$	(7,250	)	$	(70	)	$	(41	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(243	)	$	7,169		$	(135	)	$	(7,453	)	$	419		$	(243	)

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Condensed Consolidating Balance Sheet

March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	—	$	34		$	22	$	456	$	—		$	512
Other Current Assets	4		—			532		7,138		(594		)	7,080
Total Current Assets	4		34			554		7,594		(594		)	7,592
Equity Investments in Affiliates	8,242		10,613			9,707		3,926		(32,488		)	—
Intercompany Receivables, Net	—		—			—		10,116		(10,116		)	—
Other Assets	4		33			20		10,574		—			10,631
Total Assets	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	1,466		$	6	$	82	$	—		$	1,554
Accounts Payable and Other Current Liabilities	42		185			—		3,206		(594		)	2,839
Total Current Liabilities	42		1,651			6		3,288		(594		)	4,393
Long-term Debt	—		5,239			910		129		—			6,278
Intercompany Payables, Net	1,668		5,836			2,612		—		(10,116		)	—
Other Long-term Liabilities	11		77			5		861		—			954
Total Liabilities	1,721		12,803			3,533		4,278		(10,710		)	11,625
Weatherford Shareholders’ Equity	6,529		(2,123		)	6,748		27,863		(32,488		)	6,529
Noncontrolling Interests	—		—			—		69		—			69
Total Liabilities and Shareholders’ Equity	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223

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Condensed Consolidating Balance Sheet

December 31, 2014

(Dollars in millions)	Weatherford Switzerland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	1	$	—		$	22	$	451	$	—		$	474
Other Current Assets	4		12			544		7,524		(614		)	7,470
Total Current Assets	5		12			566		7,975		(614		)	7,944
Equity Investments in Affiliates	8,662		10,490			9,730		3,974		(32,856		)	—
Equity Held in Parent	—		—			—		—		—			—
Intercompany Receivables, Net	—		—			—		10,490		(10,490		)	—
Other Assets	5		35			16		10,889		—			10,945
Total Assets	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	618		$	6	$	103	$	—		$	727
Accounts Payable and Other Current Liabilities	43		256			—		3,615		(614		)	3,300
Total Current Liabilities	43		874			6		3,718		(614		)	4,027
Long-term Debt	—		5,749			911		137		1			6,798
Intercompany Payables, Net	1,666		6,202			2,622		—		(10,490		)	—
Other Long-term Liabilities	5		82			5		939		—			1,031
Total Liabilities	1,714		12,907			3,544		4,794		(11,103		)	11,856
Weatherford Shareholders’ Equity	6,958		(2,370		)	6,768		28,459		(32,857		)	6,958
Noncontrolling Interests	—		—			—		75		—			75
Total Liabilities and Shareholders’ Equity	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

23

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(118	)	$	(64	)	$	(33	)	$	47		$	61		$	(107	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			15			—			(15		)	—			—
Equity in (Earnings) Loss of Affiliates	111			(75		)	25			—			(61		)	—
Deferred Income Tax Provision (Benefit)	—			—			(5		)	(31		)	—			(36		)
Other Adjustments	(6		)	136			27			(56		)	—			101
Net Cash Provided (Used) by Operating Activities	(13		)	12			14			(55		)	—			(42		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(224		)	—			(224		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			3			—			3
Net Cash Provided (Used) by Investing Activities	—			—			—			(221		)	—			(221		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			498			—			(19		)	—			479
Borrowings (Repayments) Long-term Debt, Net	—			(147		)	(1		)	(6		)	—			(154		)
Borrowings (Repayments) Between Subsidiaries, Net	12			(329		)	(13		)	330			—			—
Other, Net	—			—			—			(18		)	—			(18		)
Net Cash Provided (Used) by Financing Activities	12			22			(14		)	287			—			307
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			(6		)	—			(6		)
Net Increase in Cash and Cash Equivalents	(1		)	34			—			5			—			38
Cash and Cash Equivalents at Beginning of Period	1			—			22			451			—			474
Cash and Cash Equivalents at End of Period	$	—		$	34		$	22		$	456		$	—		$	512

24

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(41	)	$	7,319		$	1		$	(7,241	)	$	(70	)	$	(32	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			(7,348		)	—			7,348			—			—
Equity in (Earnings) Loss of Affiliates	21			(80		)	(11		)	—			70			—
Deferred Income Tax Provision (Benefit)	—			—			—			44			—			44
Other Adjustments	45			(322		)	(2		)	(139		)	—			(418		)
Net Cash Provided (Used) by Operating Activities	25			(431		)	(12		)	12			—			(406		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(286		)	—			(286		)
Acquisition of Intellectual Property	—			—			—			(2		)	—			(2		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			14			—			14
Capital Contribution to Subsidiary	—			—			—			—			—			—
Net Cash Provided (Used) by Investing Activities	—			—			—			(274		)	—			(274		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			635			—			(10		)	—			625
Borrowings (Repayments) Long-term Debt, Net	—			—			(3		)	(14		)	—			(17		)
Borrowings (Repayments) Between Subsidiaries, Net	(19		)	(204		)	(7		)	230			—			—
Other, Net	(2		)	—			22			(23		)	—			(3		)
Net Cash Provided (Used) by Financing Activities	(21		)	431			12			183			—			605
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			7			—			7
Net Increase in Cash and Cash Equivalents	4			—			—			(72		)	—			(68		)
Cash and Cash Equivalents at Beginning of Period	—			—			—			435			—			435
Cash and Cash Equivalents at End of Period	$	4		$	—		$	—		$	363		$	—		$	367

25

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

As used herein, the “Company,” “we,” “us” and “our” refer to Weatherford International plc (“Weatherford Ireland”), a public limited company organized under the laws of Ireland, and its subsidiaries on a consolidated basis, or for periods prior to June 17, 2014, to our predecessor, Weatherford International Ltd. (“Weatherford Switzerland”), a Swiss joint-stock corporation and its subsidiaries on a consolidated basis.

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) should be read in conjunction with the Condensed Consolidated Financial Statements and Notes included with this report and our Consolidated Financial Statements, Notes and related MD&A for the year ended December 31, 2014 included in our Annual Report on Form 10-K. Our discussion includes various forward-looking statements about our markets, the demand for our products and services and our future results. These statements are based on certain assumptions we consider reasonable. For information about these assumptions, please review the section entitled “Forward-Looking Statements” and the section entitled “Item 1A. - Risk Factors.”

Overview

Change in Reportable Segments

In the three months ended March 31, 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments which are North America, MENA/Asia Pacific, Europe/SSA/Russia, Latin America and Land Drilling Rigs. We have recast prior periods to conform to the current business segment presentation. See “Note 14 – Segment Information” for additional information.

General

We conduct operations in over 100 countries and have service and sales locations in nearly all of the oil and natural gas producing regions in the world. Our operational performance is reviewed on a geographic basis, and we report the following regions as separate, distinct reporting segments mentioned previously.

We principally provide equipment and services to the oil and natural gas exploration and production industry, both on land and offshore, through our product service line groups: (1) Formation Evaluation and Well Construction, (2) Completion and Production, and (3) Land Drilling Rigs, which together comprise a total of 14 service lines.

• Formation Evaluation and Well Construction service lines include Managed-Pressure Drilling, Drilling Services,Tubular Running Services, Drilling Tools, Wireline Services, Testing and Production Services, Re-entry and Fishing, Cementing, Liner Systems, Integrated Laboratory Services and Surface Logging.

• Completion and Production service lines include Artificial Lift Systems, Stimulation and Completion Systems.

• Land Drilling Rigs encompasses our land drilling rigs business, including the products and services ancillary thereto.

We may sell our products and services separately or may bundle them together to provide integrated solutions, up to and including integrated well construction where we are responsible for the entire process of drilling, constructing and completing a well. Our customers include both exploration and production companies and other oilfield service companies. Depending on the service line, customer and location, our contracts vary in their terms, provisions and indemnities. We earn revenues under our contracts when products and services are delivered. Typically, we provide products and services at a well site where our personnel and equipment may be located together with personnel and equipment of our customer and third parties, such as other service providers. Our services are usually short-term in nature; day-rate based and cancellable should our customer wish to alter the scope of work. Consequently, our backlog of firm orders is not material to the Company.

26

Divestitures

Throughout 2014, we successfully disposed several of our non-core businesses. We received cash proceeds totaling over $1.7 billion from these dispositions, which were not core to our ongoing business strategy, and used $1.2 billion of the proceeds to reduce debt. For the year ended December 31, 2014, we recognized a gain on these dispositions of $349 million. In the first quarter of 2015, the Company recorded net working capital adjustments and other closing balance sheet adjustments which increased the gain on these transactions by $3 million. See “Note 2 – Business Combinations.”

Industry Trends

The level of spending in the energy industry is heavily influenced by changes in the current and expected future prices of oil and natural gas. Changes in expenditures result in an increased or decreased demand for our products and services. Rig count is an indicator of the level of spending for the exploration for and production of oil and natural gas reserves. The following chart sets forth certain statistics that reflect historical market conditions: 

	WTI Oil (a)		Henry Hub Gas (b)		North American Rig Count (c)	International Rig Count (c)
March 31, 2015	$	47.60	$	2.64	1,648	1,261
December 31, 2014	53.27		2.90		2,294	1,315
March 31, 2014	101.58		4.37		2,327	1,337

(a) Price per barrel of West Texas Intermediate (“WTI”) crude oil of the date indicated at Cushing Oklahoma – Source: Thomson Reuters

(b) Price per MM/BTU as of the date indicated at Henry Hub Louisiana – Source: Thomson Reuters

(c) Average rig count for the period indicated – Source: Baker Hughes Rig Count

During the first three months of 2015, oil prices ranged from a high of $54.29 per barrel in mid February to a low of $44.45 per barrel in late January. Natural gas ranged from a high of $3.21 MM/BTU in mid January to a low of $2.58 MM/BTU in early February. Factors influencing oil and natural gas prices during the period include hydrocarbon inventory levels, realized and expected global economic growth, realized and expected levels of hydrocarbon demand, level of production capacity within the Organization of Petroleum Exporting Countries (“OPEC”), weather and geopolitical uncertainty.

27

Outlook

In 2015, we entered a year challenged by the recent steep decline in oil prices. This decline is expected to materially reduce capital spending by our customers thereby reducing our revenue, both through lower activity levels and pricing. Our response to this environment will be to continue to focus on developing our core businesses while reducing cost and improving cash flow. In the fourth quarter of 2014, responsive to these changing market conditions, we commenced a reduction in force exercise initially targeting 8,000 employee positions, and in the first quarter we increased the target by 2,000 to a total of 10,000 employees. We expect these reductions to be substantially complete in the first half of 2015.

We expect North America to be severely impacted by both lower volume and pricing pressure as our customers continue to reduce spending due to the decline in commodity prices. For the remainder of the year activity in North America will be curtailed but partially offset by our efforts to rationalize our cost structure. Internationally, we expect to show resilient year-on-year performance through the 2015 market decline, with Latin America having improvements in Brazil and Argentina while in the Eastern Hemisphere the Middle East will play an important role with incremental business in the Gulf markets and Sub-Sahara Africa will continue to build on its 2014 success in Well Construction market penetration.

Over the longer term, we believe the outlook for our core businesses is favorable. As well production decline rates accelerate and reservoir productivity complexities increase, our clients will continue to face challenges associated with decreasing the cost of extraction activities and securing desired rates of production. These challenges increase our customers’ requirements for technologies that improve productivity and efficiency and increase demand for our products and services. These factors provide us with a positive outlook for our core businesses over the longer term. However, the level of improvement in our core businesses in the future will depend heavily on pricing, volume of work and our ability to offer solutions to more efficiently extract hydrocarbons, control costs and penetrate new and existing markets with our newly developed technologies.

We continually seek opportunities to maximize efficiency and value through various transactions, including purchases or dispositions of assets, businesses, investments or joint ventures. We evaluate our disposition candidates based on the strategic fit within our business and objectives. It is also our intention to divest our remaining land drilling rigs. Upon completion, the cash proceeds from any divestitures are expected to be used to repay or repurchase debt. Any such debt reduction may include the repurchase of our outstanding senior notes prior to their maturity in open market, privately negotiated transaction or otherwise.

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Results of Operations

The following table contains selected financial data comparing our consolidated and segment results from operations for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(Dollars and shares in millions, except per share data)	2015			2014			Favorable (Unfavorable)			Percentage Change
Revenues:
North America	$	1,163		$	1,610		$	(447	)	(28	)%
MENA/Asia Pacific	533			619			(86		)	(14	)%
Europe/SSA/Russia	417			516			(99		)	(19	)%
Latin America	486			509			(23		)	(5	)%
Subtotal	2,599			3,254			(655		)	(20	)%
Land Drilling Rigs	195			342			(147		)	(43	)%
Total Revenues	2,794			3,596			(802		)	(22	)%
Operating Income (Expense):
North America	(10		)	196			(206		)	(105	)%
MENA/Asia Pacific	60			5			55			1,100	%
Europe/SSA/Russia	71			78			(7		)	(9	)%
Latin America	98			90			8			9	%
Subtotal	219			369			(150		)	(41	)%
Land Drilling Rigs	10			(27		)	37			137	%
Total Segment Operating Income	229			342			(113		)	(33	)%
Research and Development	(64		)	(69		)	5			7	%
Corporate Expenses	(56		)	(47		)	(9		)	(19	)%
Restructuring Charges	(41		)	(70		)	29			41	%
Gain on Sale of Businesses, Net	3			—			3			—	%
Other Items	(21		)	(26		)	5			19	%
Total Operating Income	50			130			(80		)	(62	)%
Interest Expense, Net	(120		)	(126		)	6			5	%
Devaluation of Venezuelan Bolivar	(26		)	—			(26		)	—	%
Other, Net	(11		)	(9		)	(2		)	(22	)%
Provision for Income Tax	—			(27		)	27			100	%
Net Loss per Diluted Share	$	(0.15	)	$	(0.05	)	$	(0.10	)	(200	)%
Weighted Average Diluted Shares Outstanding	778			776			(2		)	—	%
Depreciation and Amortization	$	316		$	351		$	35		10	%

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Revenue Percentage by Product Service Line Group

The following chart contains the percentage distribution of our consolidated revenues by product service line group for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
	2015		2014
Formation Evaluation and Well Construction	57	%	51	%
Completion and Production	36		39
Land Drilling Rigs	7		10
Total	100	%	100	%

Consolidated Revenues

Consolidated revenues decreased $802 million, or 22%, in the first quarter ended March 31, 2015 compared to the first quarter of 2014. Revenues decreased in the first quarter of 2015 across all our segments with declines of $447 million, or 28%, in North America, $208 million, or 13%, in our International segments and $147 million, or 43%, in Land Drilling Rigs. International revenues represent revenues of our regional segments other than North America and the Land Drilling Rigs segments. The decline in North American revenue is consistent with the 29%decrease in North American rig count since the first quarter of 2014 with consistent declines of approximately 20% across all product lines in the United States and significant declines of more than 40% across our product lines in Canada. These results were driven by a combination of lower service activity and customer pricing pressure. The decline in revenues in our International segments was in line with the decline in international rig count of 6% since the first quarter of 2014 as well as declines in revenue from our Europe/Russia/SSA and MENA/Asia Pacific due to pricing pressure and reduced activity across all product lines. The decline in our Land Drilling Rigs revenue is primarily attributable to the decline in drilling activity consistent with the rig count declines, decreases in new drilling activity and the 2014 disposal of our land drilling and workover rig operations in Russia and Venezuela.

Operating Income

Consolidated segment operating income decreased $113 million, or 33% in the three months ended March 31, 2015, compared to the first quarter of 2014. The decline in operating income is consistent with the reduction in activity resulting from the significant decline in both the price of oil and rig counts, which has put pressure on our pricing and has resulted in lower volume of work. Additionally, consolidated operating income for the three months ended March 31, 2015 and 2014 includes legacy contract and other related charges of $9 million and $46 million, respectively, and restructuring charges of $41 million and $70 million, respectively. For additional information regarding charges by segment, see the subsection entitled “Segment Results” and “Restructuring Charges” below.

Other items impacting our results for the three months ended March 31, 2015 and 2014 included expenses of $21 million and $26 million, respectively, incurred in conjunction with the divestiture of non-core businesses, restatement related litigation and our previously settled U.S. government investigations.

30

Segment Results

North America

Revenues in our North America segment decreased $447 million, or 28%, in the first quarter of 2015 compared to the first quarter of 2014. North America average rig count decreased 29% since March 31, 2014. The decline in revenue in the three months ended March 31, 2015 was due to lower activity and pricing pressure that broadly impacted all product lines, particularly artificial lift, intervention services and pressure pumping. The disposition of our engineered chemistry business on December 31, 2014 also negatively impacted revenues when compared to the same period in the prior year. Total revenues in the United States, which is part of our North America segment, were $945 million and $1.2 billion for the three months ended March 31, 2015 and 2014, respectively. The remaining revenues of our North America segment of $218 million and $382 million for the three months ended March 31, 2015 and 2014, respectively, were derived from our operations in Canada.

Operating income decreased $206 million, or 105%, resulting in a $10 million loss in the first quarter of 2015 compared to income of $196 million the first quarter of 2014. Contributing to the decline was the rig count decrease of 29% since March 31, 2014, increased pricing pressure and reduced activity associated with the significant decline in oil prices. Due to these factors operating income decreased in the United States and Canada across all product lines, particularly artificial lift, drilling services and pressure pumping. In the three months ended March 31, 2015 and 2014, we recognized “Restructuring Charges” on our Condensed Consolidated Statements of Operations of $8 million and $9 million, respectively, related to operations in North America.

MENA/Asia Pacific

Revenues in our MENA/Asia Pacific segment decreased $86 million, or 14%, in the first quarter of 2015 compared to the first quarter of 2014. The lower revenue in MENA was mainly due to reduced work volume primarily in the artificial lift, wireline services, and stimulation product lines, as well as the revenues lost following the sale of the pipeline and specialty services product line in September of 2014. The revenue decline in the Asia Pacific region is mostly attributable to decreased activity in China and Indonesia primarily related to the artificial lift and intervention services and drilling tools product lines. These revenue declines were partially offset by increased activity in Saudi Arabia primarily in our drilling services and well construction product lines.

Operating income increased $55 million the first quarter of 2015 compared to the first quarter of 2014. The increase in operating income is primarily attributable to improvements in North Africa and Malaysia and higher profitability resulting from unprofitable locations that were closed in the previous year. In the three months ended March 31, 2015 and 2014, we recognized “Restructuring Charges” on our Condensed Consolidated Statements of Operations of $6 million and $4 million, respectively, related to operations in MENA/Asia Pacific.

Europe/SSA/Russia

Revenues in our Europe/SSA/Russia segment decreased $99 million, or 19%, in the first quarter of 2015 compared to the first quarter of 2014. The decline in revenues is due to a decline in activity reflected as a reduction in well construction revenue in the North Sea and West Africa, and drilling services revenue in Russia. Additionally, the sale of the pipeline and specialty services and engineered chemistry product line in the third and fourth quarters of 2014, respectively, contributed to the decline along with the impact of a weaker Russian ruble and euro.

Operating income decreased $7 million, or 9% , in the first quarter of 2015 compared to the first quarter of 2014. The decline was consistent with the decline in revenue and with the incremental profits attributable to our cost reduction exercise. In the three months ended March 31, 2015 and 2014, we recognized “Restructuring Charges” on our Condensed Consolidated Statements of Operations of $7 million and $19 million, respectively, related to operations in Europe/SSA/Russia.

31

Latin America

Revenues in our Latin America segment decreased $23 million, or 5%, in the first quarter of 2015 compared to the first quarter of 2014. The decline in revenues was largely due to declining activity and demand for our artificial lift and formation evaluation products and services.

Operating income increased $8 million, or 9%, in the first quarter of 2015 compared to the first quarter of 2014. The increase in the first quarter is a result of the lower level of activity associated with our artificial lift and formation evaluation services due to cost reduction initiatives in Mexico and a continued focus on higher margin activity in Argentina and Brazil. In the three months ended March 31, 2015 and 2014, we recognized “Restructuring Charges” on our Condensed Consolidated Statements of Operations of $12 million and $19 million, respectively, related to operations in Latin America.

Land Drilling Rigs

Revenues in our Land Drilling Rigs segment decreased $147 million, or 43%, in the first quarter of 2015 compared to the first quarter of 2014 primarily due to the significant decline in drilling activity consistent with the rig count declines, decreases in new drilling activity, and the 2014 disposal of our land drilling and workover rig operations in Russia and Venezuela.

Operating income increased $37 million, or 137%, in the first quarter of 2015 compared to the first quarter of 2014. The increase in the three months ended March 31, 2015 is primarily a result of the disposal of our land drilling and workover rig operations in Russia that generated a loss during the first quarter of 2014 and improved drilling efficiencies in Iraq. In the three months ended March 31, 2015 and 2014, we recognized “Restructuring Charges” on our Condensed Consolidated Statements of Operations of $5 million and $3 million, respectively, related to our Land Drilling Rigs operations.

Devaluation of Venezuelan Bolivar and Inflationary Impacts

A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2015, replacing the Venezuela’s Supplementary Foreign Currency Administration System auction rate (“SICAD”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. In the first quarter of 2015, we recognized remeasurement charges of $26 million and will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate. At March 31, 2015 our net monetary asset position denominated in Venezuelan bolivar was approximately $11 million. 

Potential Highly Inflationary Country

The Company has noted the concerns raised by the International Monetary Fund (“IMF”) relating to the accuracy of Argentina’s officially reported consumer price index. Given the lack of verifiable information, objective sources have not observed data that would support designating Argentina as “Highly Inflationary.” The Company is closely monitoring the work of the IMF and the price index information that becomes available. As of March 31, 2015, we had a net monetary asset position denominated in Argentina pesos of $111 million, comprised primarily of accounts receivable and current liabilities.

Interest Expense, Net

Interest expense, net was $120 million for the three months ended March 31, 2015 compared to $126 million for the three months ended March 31, 2014, respectively. Interest expense for the three months ended March 31, 2015decreased primarily due to a decrease in our debt balance and the recent redemption of certain senior notes.

32

Income Taxes

We estimate our annual effective tax rate based on year-to-date operating results and our forecast of operating results for the remainder of the year, by jurisdiction, and apply this rate to the year-to-date operating results. If our actual results, by jurisdiction, differ from the forecasted operating results, our effective tax rate can change affecting the tax expense for both successive interim results as well as the annual tax results. For the three months ended March 31, 2015, we had zero tax provision on a loss before income taxes of $107 million. Our results for the three months ended March 31, 2015 were impacted by discrete loss before tax items, including restructuring charges of $41 million and devaluation of Venezuela Bolivar of $26 million, all with no significant tax benefit.

We are continuously under tax examination in various jurisdictions. We cannot predict the timing or outcome regarding resolution of these tax examinations or if they will have a material impact on our financial statements. We continue to anticipate a possible reduction in the balance of uncertain tax positions by approximately $14 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

For the three months ended March 31, 2014, we had a tax provision of $27 million on a loss before income taxes of $5 million. Our results were impacted by discrete income before tax items, including restructuring charges and project losses of approximately $116 million, with no significant tax benefit.

Restructuring Charges

In the fourth quarter of 2014, in response to the significant decline in the price of crude oil and our anticipation of a lower level of exploration and production spending in 2015, we initiated a plan to reduce our overall costs and workforce to better align with anticipated activity levels. This cost reduction plan (the “2015 Plan”) includes a workforce reduction and other cost reduction measures initiated across our geographic regions. In connection with the 2015 Plan, we recognized restructuring charges of $41 million in the three months ended March 31, 2015. Our restructuring charges include termination (severance) benefits of $40 million and other restructuring charges of $1 million. Other restructuring charges include contract termination costs, relocation and other associated costs. Separately, we plan to shut down and consolidate 60 operating facilities across North America by the end of the year.

In the first quarter of 2014, we announced a cost reduction plan (the “2014 Plan”), which included a worldwide workforce reduction and other cost reduction measures. The 2014 Plan resulted in restructuring charges of $70 million related to termination (severance) benefits in the three months ended March 31, 2014. As of December 31, 2014, we completed our planned headcount reductions and closures of underperforming operating locations in connection with the 2014 Plan.

The following tables present the components of the 2015 Plan and the 2014 Plan restructuring charges by segment for three months ended March 31, 2015 and 2014.

	Three Months Ended March 31, 2015
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2015 Plan	Charges		Charges		Other Charges
North America	$	8	$	—	$	8
MENA/Asia Pacific	5		1		6
Europe/SSA/Russia	7		—		7
Latin America	12		—		12
Subtotal	32		1		33
Land Drilling Rigs	5		—		5
Corporate and Research and Development	3		—		3
Total	$	40	$	1	$	41

33

	Three Months Ended March 31, 2014
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2014 Plan	Charges		Charges		Other Charges
North America	$	9	$	—	$	9
MENA/Asia Pacific	4		—		4
Europe/SSA/Russia	15		4		19
Latin America	19		—		19
Subtotal	47		4		51
Land Drilling Rigs	3		—		3
Corporate and Research and Development	16		—		16
Total	$	66	$	4	$	70

Liquidity and Capital Resources

Cash Flows

At March 31, 2015, we had cash and cash equivalents of $512 million compared to $474 million at December 31, 2014. At March 31, 2015, cash and cash equivalents reflected a negative impact of $12 million due to the devaluation of the Venezuelan bolivar related to the adoption of the new Venezuelan currency exchange system called the SIMADI, which replaced the SICAD II exchange. The following table summarizes cash flows provided by (used in) each type of activity, for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(Dollars in millions)	2015			2014
Net Cash Used in Operating Activities	$	(42	)	$	(406	)
Net Cash Used in Investing Activities	(221		)	(274		)
Net Cash Provided by Financing Activities	307			605

Operating Activities

For the three months ended March 31, 2015, cash used in operating activities was $42 million compared to $406 million in the three months ended March 31, 2014. The improvement in operating cash flow in 2015 compared to 2014 was attributable to improved cash flow from working capital and the absence of $253 million in government settlement payments made in 2014. These improvements were partially offset by a decline of income associated with the significant decline in oil prices and drilling activity.

Investing Activities

The primary driver of our investing cash flow activities is capital expenditures for property, plant and equipment. Capital expenditures were $224 million for the three months ended March 31, 2015 and $286 million for the three months ended March 31, 2014. The amount we spend for capital expenditures varies each year based on the type of contracts in which we enter, our asset availability and our expectations with respect to industry activity levels in the following year.

We did not complete any dispositions in the three months ended March 31, 2015 and received proceeds from dispositions of $14 million for the three months ended March 31, 2014. We did not complete any acquisitions in the three months ended March 31, 2015 and 2014. While we expect to continue to make business acquisitions when strategically advantageous, our current focus is on disposition of businesses or capital assets that are no longer core to our long-term strategy.

34

Financing Activities

Our financing activities primarily consisted of the borrowing and repayment of short-term and long-term debt. Our short-term borrowings, net of repayments were $479 million in the three months ended March 31, 2015 and $625 million in the three months ended March 31, 2014. Total net long-term debt repayments were $154 million in the three months ended March 31, 2015 compared to total net long-term debt repayments of $17 million in three months ended March 31, 2014. In the first three months of 2015, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes, 6.5% senior notes and 6.75% senior notes with a total book value of $160 million. We recognized a cumulative gain of approximately $12 million on these transactions.

Sources of Liquidity

Our sources of available liquidity include cash and cash equivalent balances, cash generated from operations, dispositions, commercial paper and availabilities under committed lines of credit. We also historically have accessed banks for short-term loans from uncommitted borrowing arrangements and have accessed the capital markets with debt, equity and convertible bond offerings. From time to time we may enter into transactions to factor accounts receivable or dispose of businesses or capital assets that are no longer core to our long-term strategy. From time to time we may enter into transactions to factor accounts receivable.

Committed Borrowing Facility

We maintain a $2.25 billion unsecured, revolving credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, scheduled to mature July 13, 2016. The Credit Agreement can be used for a combination of borrowings, support for our $2.25 billion commercial paper program and issuances of letters of credit. This agreement requires that we maintain a debt-to-total capitalization ratio of less than 60%. We were in compliance with this covenant at March 31, 2015.

The following summarizes our availability under the Credit Agreement at March 31, 2015 (dollars in millions):

Facility	$	2,250
Less uses of facility:
Revolving credit facility	625
Commercial paper	130
Letters of credit	28
Availability	$	1,467

364-Day Term Loan Facility

As of March 31, 2015, we had a $400 million, 364-day term loan facility with a syndicate of banks that matured on April 9, 2015. As of March 31, 2015, we had borrowing of $175 million drawn on this facility. The 364-day term loan facility included the same debt-to-capitalization requirement that is contained in our Credit Agreement, with which we are in compliance. On April 9, 2015, we paid the outstanding balance of $175 million on this term loan facility.

Other Short-Term Borrowings and Other Debt Activity

We have short-term borrowings with various domestic and international institutions pursuant to uncommitted and letter of credit facilities. At March 31, 2015, we had $228 million in short-term borrowings under these arrangements, including $180 million borrowed under a credit agreement entered into in March 2014 that matures on March 20, 2016, with a Libor-based interest rate of 1.57% as of March 31, 2015. In the first three months of 2015, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes, 6.5% senior notes and 6.75% senior notes with a total book value of $160 million. We recognized a cumulative gain of approximately $12 million on these transactions.

35

Ratings Services’ Credit Rating

Our Standard & Poor’s Ratings Services’ credit rating on our senior unsecured debt is currently BBB- and our short-term rating is A-3. On March 11, 2015, S&P removed us from Credit Watch with negative implications and changed our outlook to negative. Our Moody’s Investors Ratings Services’ credit rating on our unsecured debt is currently Baa3 and our short-term rating is P-3. On March 24, 2015, Moody Investors changed our outlook from stable to negative. On April 15, 2015, Fitch Ratings has assigned credit rating on our senior unsecured debt of BBB- and our short-term rating of F3, and a negative outlook. We have access and expect we will continue to have access to credit markets, including the U.S. commercial paper market, although the commercial paper amounts outstanding may be reduced as a result of a negative rating change. We expect to utilize the Credit Agreement or other facilities to supplement commercial paper borrowings as needed.

Cash Requirements

During 2015, we anticipate our cash requirements will include payments for capital expenditures, repayment of debt, including our 364-day term loan facility, interest payments on our outstanding debt and payments for short-term working capital needs. Our cash requirements may also include opportunistic debt repurchases, business acquisitions and amounts to settle litigation related matters. We anticipate funding these requirements from cash generated from operations, availability under our existing or additional credit facilities, the issuance of commercial paper and, if completed, proceeds from disposals of businesses or capital assets that are no longer closely aligned with our core long-term growth strategy. We anticipate that cash generated from operations will be augmented by working capital improvements driven by capital discipline and the collection of receivables. Capital expenditures for 2015 are currently projected to be approximately $850 million. The amounts we ultimately spend will depend on a number of factors including the type of contracts we enter into, asset availability and our expectations with respect to industry activity levels in 2015. Expenditures are expected to be used primarily to support anticipated near-term growth of our core businesses and our sources of liquidity are anticipated to be sufficient to meet our needs. Capital expenditures were $224 million for the three months ended March 31, 2015. Cash and cash equivalent of $512 million at March 31, 2015, are held by subsidiaries outside of Ireland. Based on the nature of our structure, we are generally able to redeploy cash with no incremental tax.

Off Balance Sheet Arrangements

Guarantees

Weatherford Ireland guarantees the obligations of our subsidiaries Weatherford Bermuda and Weatherford Delaware, including the notes and credit facilities listed below.

The following obligations of Weatherford Delaware were guaranteed by Weatherford Bermuda at March 31, 2015 and December 31, 2014: (1) 6.35% senior notes and (2) 6.80% senior notes.

The following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at March 31, 2015 and December 31, 2014: (1) revolving credit facility, (2) 5.50% senior notes, (3) 6.50% senior notes, (4) 6.00% senior notes, (5) 7.00% senior notes, (6) 9.625% senior notes, (7) 9.875% senior notes, (8) 5.125% senior notes, (9) 6.75% senior notes, (10) 4.50% senior notes and (11) 5.95% senior notes. In 2014, we refinanced the 364-day term loan facility with a new 364-day term loan facility, which is an obligation of Weatherford Bermuda, and is also guaranteed by Weatherford Delaware as of December 31, 2014.

As a result of certain of these guarantee arrangements, we are required to present condensed consolidating financial information. See guarantor financial information presented in “Note 17 – Condensed Consolidating Financial Statements.”

Letters of Credit and Performance and Bid Bonds

We use letters of credit and performance and bid bonds in the normal course of our business. As of March 31, 2015, we had $879 million of letters of credit and performance and bid bonds outstanding, consisting of $573 million outstanding under various uncommitted credit facilities, $28 million of letters of credit outstanding under our Credit Agreementand $278 million of surety bonds, primarily performance bonds, issued by financial sureties against an indemnification from us. These obligations could be called by the beneficiaries should we breach certain contractual or performance obligations. If the beneficiaries were to call the letters of credit under our committed facilities, our available liquidity would be reduced by the amount called.

36

Derivative Instruments

Fair Value Hedges

We may use interest rate swaps to help mitigate exposures related to changes in the fair values of the associated debt. As of March 31, 2015, we had net unamortized gains of $31 million associated with interest rate swap terminations. These gains are being amortized over the remaining term of the originally hedged debt as a reduction in interest expense. See “Note 9 – Derivative Instruments” to our Condensed Consolidated Financial Statements for additional details.

Other Derivative Instruments

We enter into contracts to hedge our exposure to currency fluctuations in various foreign currencies. At March 31, 2015 and December 31, 2014, we had outstanding foreign currency forward contracts with notional amounts aggregating $1.3 billion and $1.6 billion, respectively. The notional amounts of our foreign currency forward contracts do not generally represent amounts exchanged by the parties and, thus are not a measure of the cash requirements related to these contracts or of any possible loss exposure. The amounts actually exchanged are calculated by reference to the notional amounts and by other terms of the derivative contracts, such as exchange rates.

We have cross-currency swaps between the U.S. dollar and Canadian dollar to hedge certain exposures to the Canadian dollar. At December 31, 2014, to hedge our exposure to the Canadian dollar, we held cross-currency swaps between the U.S. dollar and Canadian dollar with a notional amount of $168 million. We settled the cross-currency swap arrangements in the three months ended March 31, 2015 after recognizing a mark-to-market gain of $13 million. We collected $8 million in proceeds upon settlement.

Our foreign currency forward contracts and cross-currency swaps were not designated as hedges, and the changes in fair value of the contracts are recorded each period in current earnings in the line captioned “Other, Net” on the accompanying Condensed Consolidated Statements of Operations.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operation is based upon our Consolidated Financial Statements. We prepare these financial statements in conformity with U.S. generally accepted accounting principles. As such, we are required to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. We base our estimates on historical experience, available information and various other assumptions we believe to be reasonable under the circumstances. On an on-going basis, we evaluate our estimates; however, actual results may differ from these estimates under different assumptions or conditions. There have been no material changes or developments in our evaluation of the accounting estimates and the underlying assumptions or methodologies that we believe to be critical accounting policies and estimates as disclosed in our Form 10-K for the year ended December 31, 2014.

New Accounting Pronouncements

See “Note 16 – New Accounting Pronouncements” to our Condensed Consolidated Financial Statements, included elsewhere in this report.

37

Forward-Looking Statements

This report contains various statements relating to future financial performance and results, including certain projections, business trends and other statements that are not historical facts. These statements constitute “Forward-Looking Statements” as defined in the Securities Act of 1933, as amended (the “Securities Act”) and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “budget,” “strategy,” “plan,” “guidance,” “outlook,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements reflect our beliefs and expectations based on current estimates and projections. While we believe these expectations, and the estimates and projections on which they are based, are reasonable and were made in good faith, these statements are subject to numerous risks and uncertainties. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in the forward-looking statements. Furthermore, from time to time, we update the various factors we consider in making our forward-looking statements and the assumptions we use in those statements. However, we undertake no obligation to correct, update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required under federal securities laws. The following sets forth various assumptions we use in our forward-looking statements, as well as risks and uncertainties relating to those statements. Certain of these risks and uncertainties may cause actual results to be materially different from projected results contained in forward-looking statements in this report and in our other disclosures. These risks and uncertainties include, but are not limited to, those described below under “Item 1A. – Risk Factors” and the following:

• the price volatility of oil, natural gas and natural gas liquids, including the impact of the recent and significant decline in the price of crude oil;

• global political, economic and market conditions, political disturbances, war, terrorist attacks, changes in global trade policies, and international currency fluctuations;

• nonrealization of expected benefits from our acquisitions or business dispositions and our ability to execute such acquisitions and dispositions;

• our ability to realize expected revenues and profitability levels from current and future contracts;

• our ability to manage our workforce, supply chain and business processes, information technology systems and technological innovation and commercialization, including the impact of our 2014 and 2015 cost reduction plans;

• our high level of indebtedness;

• increases in the prices and availability of our raw materials;

• potential non-cash asset impairment charges for long-lived assets, goodwill, intangible assets or other assets;

• changes to our effective tax rate;

• nonrealization of potential earnouts associated with business dispositions;

• downturns in our industry which could affect the carrying value of our goodwill;

• member-country quota compliance within OPEC;

• adverse weather conditions in certain regions of our operations;

• our ability to realize the expected benefits from our redomestication from Switzerland to Ireland and to maintain our Swiss tax residency;

• failure to ensure on-going compliance with current and future laws and government regulations, including but not limited to environmental and tax and accounting laws, rules and regulations; and

• limited access to capital or significantly higher cost of capital related to liquidity or uncertainty in the domestic or international financial markets.

Finally, our future results will depend upon various other risks and uncertainties, including, but not limited to, those detailed in our other filings with the SEC under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Securities Act. For additional information regarding risks and uncertainties, see our other filings with the SEC. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are made available free of charge on our web site www.weatherford.com under “Investor Relations” as soon as reasonably practicable after we have electronically filed the material with, or furnished it to, the SEC.

38

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

For quantitative and qualitative disclosures about market risk, see “Part II – Item 7A.– Quantitative and Qualitative Disclosures about Market Risk,” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Our exposure to market risk has not changed materially since December 31, 2014, except as described below.

Foreign Currency Exchange Rates and Inflationary Impacts

A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2015, replacing the Venezuela’s Supplementary Foreign Currency Administration System auction rate (“SICAD”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. In the first quarter of 2015, we recognized remeasurement charges of $26 million and will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate. At March 31, 2015 our net monetary asset position denominated in Venezuelan bolivar was approximately $11 million. 

Potential Highly Inflationary Country

The Company has noted the concerns raised by the International Monetary Fund (“IMF”) relating to the accuracy of Argentina’s officially reported consumer price index. Given the lack of verifiable information, objective sources have not observed data that would support designating Argentina as “Highly Inflationary.” The Company is closely monitoring the work of the IMF and the price index information that becomes available. As of March 31, 2015, we had a net monetary asset position denominated in Argentina pesos of $111 million, comprised primarily of accounts receivable and current liabilities.

Item 4. Controls and Procedures.

Disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. This information is collected and communicated to management, including our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), as appropriate, to allow timely decisions regarding required disclosures. Our management, under the supervision and with the participation of our CEO and CFO, evaluated the effectiveness of the design and operation of our disclosure controls and procedures at March 31, 2015. Based on that evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective as of March 31, 2015.

Our management identified no change in our internal control over financial reporting that occurred during the first quarter ended March 31, 2015 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

39

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

See “Note 15 – Disputes, Litigation and Contingencies” to our Condensed Consolidated Financial Statements included elsewhere in this report.

Item 1A. Risk Factors.

An investment in our securities involves various risks. You should consider carefully all of the risk factors described in our most recent Annual Report on Form 10-K, Part I, under the heading “Item 1A. – Risk Factors” and other information included and incorporated by reference in this report. There have been no material changes in our assessment of our risk factors from those set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

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Item 6. Exhibits.

Exhibit Number	Description
†*10.1	Form of Performance Units Award Agreement pursuant to the Weatherford International plc 2010 Omnibus Incentive Plan
†31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
†31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
††32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
††32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
**101	The following materials from Weatherford International plc's Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, formatted in XBRL (eXtensible Business Reporting Language): (1) the unaudited Condensed Consolidated Balance Sheets, (2) the unaudited Condensed Consolidated Statements of Operations, (3) the unaudited Condensed Consolidated Statements of Comprehensive Income (Loss), (4) the unaudited Condensed Consolidated Statements of Cash Flows, and (5) the related notes to the unaudited Condensed Consolidated Financial Statements.

*	Management contract or compensatory plan or arrangement.
**	Submitted pursuant to Rule 405 and 406T of Regulation S-T.
†	Filed herewith.
††	Furnished herewith.

41

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 thereunto duly authorized.

		Weatherford International plc
Date: April 24, 2015	By:	/s/ Bernard J. Duroc-Danner
		Bernard J. Duroc-Danner
		Chief Executive Officer
		(Principal Executive Officer)
Date: April 24, 2015	By:	/s/ Krishna Shivram
		Krishna Shivram
		Executive Vice President and
		Chief Financial Officer
		(Principal Financial Officer)

42

EX-10.1

Exhibit 10.1

WEATHERFORD INTERNATIONAL PLC
2010 OMNIBUS INCENTIVE PLAN

(as amended and restated on June 17, 2014)

PERFORMANCE UNITS AWARD AGREEMENT

(Shareholder Return)

THIS PERFORMANCE UNIT AWARD AGREEMENT, including any country-specific terms set forth to an appendix attached hereto (this “Agreement”) is made and entered into by and between Weatherford International plc, an Irish public limited company (the “Company”), and _______________ (the “Holder”) effective as of _____________, 20___, pursuant to the Weatherford International plc 2010 Omnibus Incentive Plan, as amended and restated onJune 17, 2014 (the “Plan”), which is incorporated by reference herein in its entirety.

WHEREAS, the Company desires to grant to the Holder Performance Unit Awards (the “Units”) under the Plan, subject to the terms and conditions of this Agreement; and

WHEREAS, the Holder desires to have the opportunity to hold the Units subject to the terms and conditions of this Agreement;

NOW, THEREFORE, in consideration of the premises, mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1. Definitions. For purposes of this Agreement, “Forfeiture Restrictions” shall mean any prohibitions and restrictions set forth herein or in the Plan with respect to the sale or other disposition of the Units and the obligation to forfeit such Units to the Company. Capitalized terms not otherwise defined in this Agreement shall have the meanings given to such terms in the Plan.

2. Grant of Units. Effective as of the date of this Agreement and subject to the terms and conditions of the Plan, the Company hereby grants to the Holder _________ Units. Each Unit shall, upon vesting pursuant to Section 4 and subject to the Performance Goal set out in Annex A to this Agreement, be convertible into between 0.0 and 2.0 Shares (such amount being the “Performance Multiplier”), depending on the level of achievement of the Performance Goal on the Performance Measurement Date. The Company and the Holder agree that this Agreement, (including any country-specific appendix thereto) shall complete the terms of the Units. As used herein, “Performance Measurement Date” means the last trading day in each of the years ending ______, _______ and ______, provided, however, that if any Vesting Date occurs pursuant to Section 4(b) below, then the Performance Measurement Date shall be the twenty NYSE trading days ending on the date immediately preceding the Vesting Date and the Performance Goal and Performance Multiplier shall be calculated using the volume weighted average price per share of the Company’s Ordinary Shares during such period.

3. Transfer Restrictions. Except as specified herein or in the Plan, the Units may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of. Any such attempted sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance or disposition in violation of this Agreement or the Plan shall be void, and the Company shall not be bound thereby.

-1-    2010 Plan; Officer PUA Agreement

4. Vesting or Forfeiture.

(a) Except as specified otherwise in this Section 4, the Units shall be subject to Forfeiture Restrictions, which shall lapse in accordance with the following schedule provided that the Units have not been forfeited to the Company prior to:

Lapse Date Number of Units as to Which Forfeiture Restrictions Lapse

such lapse date or such earlier date as provided in clause (b) below (the “Vesting Date”).

(b) Notwithstanding the foregoing, if (i) the Holder’s active employment or affiliation relationship with the Company and its Affiliates is terminated prior to one or more Lapse Dates (1) due to the death or Disability of the Holder, (2) by the Holder for Good Reason (as defined below) or (3) by the Company for any reason other than Cause (as defined below) then, in any such event, the Vesting Date shall be the date of termination of the Holder’s employment or affiliation relationship, or (ii) there is a Change of Control prior to _________________, then the Vesting Date shall be the date immediately preceding such Change of Control. For purposes of this Agreement, “Change of Control” means a change in the ownership of the Company, a change in the effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company as described in Section 409A. For purposes of this Agreement, the terms “Good Reason” and “Cause” shall have the meanings provided under the Holder’s Employment Agreement, if any, and in the absence of an Employment Agreement, such terms shall be inapplicable for purposes of this Agreement and any termination of the Holder’s employment other than due to clause (i)(1) of this Section 4(b) shall be governed by Section 4(c) of this Agreement.

(c) If the Holder’s employment or affiliation relationship with the Company and its Affiliates terminates prior to the Vesting Date by the Holder for any reason other than Good Reason or by the Company for Cause, then any Forfeiture Restrictions that have not previously lapsed pursuant to the provisions of this Section 4 shall not lapse, and any Units with respect to which the Forfeiture Restrictions have not lapsed shall be forfeited to the Company on the date of the termination of the Holder’s employment or affiliation relationship with the Company and its Affiliates. In the event any Units are forfeited to the Company pursuant to this Agreement, the Company will not be obligated to pay the Holder any consideration whatsoever for the forfeited Units, or rights to receive any consideration for the forfeited Units.

5. No Dividend Equivalents. If during the period the Holder holds any Units awarded hereby the Company pays a dividend in cash, Shares or otherwise with respect to the outstanding Ordinary Shares, nominal value $0.001 per Share (the “Shares”), the Holder shall receive no dividend equivalent payment with respect to the Holder’s Units.

-2-    2010 Plan; Officer PUA Agreement

6. Delivery of Shares. Upon each applicable Lapse Date of the Forfeiture Restrictions under Section 4, the Company shall deliver or cause to be delivered a number of Shares equal to the number of Units with respect to which the Forfeiture Restrictions have lapsed multiplied by the applicable Performance Multiplier (subject to the satisfaction by the Holder of any Tax-Related Items arising under Section 8 of this Agreement); provided that if the Performance Multiplier is 0.0, then the Units shall be deemed forfeited on the date of lapse of the Forfeiture Restrictions.

7. Capital Adjustments and Reorganizations. The existence of the Units shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any acquisition, merger, amalgamation or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference shares ahead of or affecting the Shares or the rights thereof, or the winding up, dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise, including a Change of Control (as defined in the Plan). An adjustment under this provision may have the effect of reducing the price at which Ordinary Shares may be acquired to less than their nominal value (the “Shortfall”), but only if and to the extent that the Committee shall be authorized to capitalize from the reserves of the Company a sum equal to the Shortfall and to apply that sum in paying up that amount on the Ordinary Shares.

8. Responsibility for Taxes & Withholding. The Holder acknowledges that, regardless of any action taken by the Company or, if different, the Holder’s employer (the “Employer”) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Holder’s participation in the Plan and legally applicable to the Holder or deemed by the Company or the Employer in its discretion to be an appropriate charge to the Holder even if legally applicable to the Company or the Employer (“Tax-Related Items”), is and remains the Holder’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Holder further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Units, including, but not limited to, the grant, vesting or settlement of the Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends and/or any dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Units to reduce or eliminate the Holder’s liability for Tax-Related Items or achieve any particular tax result. Further, if the Holder is subject to Tax-Related Items in more than one jurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Holder acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to any relevant taxable or tax withholding event, as applicable, the Holder agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Holder authorizes the Company and/or its Affiliates, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

a. withholding from the Holder’s wages or other cash compensation paid to the Holder by the Company and/or its Affiliates; or

b. withholding from proceeds of the Shares acquired following the lapse of the Forfeiture Restrictions either through a voluntary sale or through a mandatory sale arranged by the

-3-    2010 Plan; Officer PUA Agreement

Company (on the Holder’s behalf pursuant to this authorization without further consent); or

c. withholding in Shares to be delivered upon the lapse of the Forfeiture Restrictions unless the Committee, in its sole discretion, indicates that this method of withholding is not available prior to the applicable taxable or tax withholding event and further provided, that if the Holder is a Section 16 officer of the Company under the U.S. Securities and Exchange Act of 1934, as amended, then the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (a)-(c) herein and, if the Committee does not exercise its discretion prior to the Tax-Related Items withholding event, then the Holder shall be entitled to elect the method of withholding from the alternatives above.

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Holder will receive a refund of any over-withheld amount in cash and will have no entitlement to the Share equivalent. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, the Holder is deemed to have been issued the full number of Shares subject to the vested Units, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items.

Finally, the Holder agrees to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the Holder’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if the Holder fails to comply with his or her obligations in connection with the Tax-Related Items.

9. Employment or Affiliation Relationship. The grant of Units and the Holder’s participation in the Plan shall not create a right to employment or be interpreted as forming an employment or services contract with the Company, the Employer or any Affiliate and shall not interfere with the ability of the Company, the Employer or any Affiliate, as applicable, to terminate the Holder’s employment or affiliation relationship (if any). For purposes of this Agreement, the Holder shall be considered to be in the employment of, or affiliated with, the Company, the Employer or its Affiliates as long as the Holder has an active employment or affiliation relationship with the Company, the Employer or any Affiliate. The Committee shall determine any questions as to whether and when there has been a termination of such employment or affiliation relationship, and the cause of such termination, under the Plan and the Committee’s determination shall be final and binding on all persons.

10. Voting and Other Rights. The Holder shall have no rights as a shareholder of the Company in respect of the Units, including the right to vote and to receive dividends and other distributions, until delivery of certificates representing Shares in satisfaction of such Units.

11. Data Privacy. The Holder hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of the Holder’s personal data as described in this Agreement and any other grant materials (“Data”) by and among, as applicable, the Employer, the Company and its Affiliates for the exclusive purpose of implementing, administering and managing the Holder’s participation in the Plan. The Holder understands that the Company and the Employer may hold certain personal information about the Holder, including, but not limited to, the Holder’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Ordinary Shares or directorships held in the Company,

-4-    2010 Plan; Officer PUA Agreement

details of all Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in the Holder’s favor, for the exclusive purpose of implementing, administering and managing the Plan. The Holder understands that Data will be transferred to Merrill Lynch, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. The Holder understands that the recipients of the Data may be located in Ireland, the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Holder’s country. The Holder understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Holder authorizes the Company, Merrill Lynch and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan. The Holder understands that Data will be held only as long as is necessary to implement, administer and manage the Holder’s participation in the Plan. The Holder understands if he or she resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative. Further, the Holder understands that he or she is providing the consents herein on a purely voluntary basis. If the Holder does not consent, or if the Holder later seeks to revoke his or her consent, his or her employment status or service and career with the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing the Holder’s consent is that the Company would not be able to grant the Holder Units or other equity awards or administer or maintain such awards. Therefore, the Holder understands that refusing or withdrawing his or her consent may affect the Holder’s ability to participate in the Plan. For more information on the consequences of the Holder’s refusal to consent or withdrawal of consent, the Holder understands that he or she may contact his or her local human resources representative.

12. Notices. Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall be delivered either by personal delivery, by facsimile, by certified or registered mail, return receipt requested, or by courier or delivery service, addressed to the Company at the address indicated below on the execution page of this Agreement, and to the Holder at the Holder’s address indicated in the Company’s register of Plan participants, or at such other address and number as a party shall have previously designated by written notice given to the other party in the manner hereinabove set forth. Notices shall be deemed given when received, if sent by facsimile (confirmation of such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means); and when delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by express courier or delivery service, or sent by certified or registered mail, return receipt requested.

13. Amendment and Waiver. This Agreement may be amended from time to time by the Committee in its discretion in any manner that it deems appropriate and that is consistent with the terms of the Plan. However, no such amendment shall adversely affect in a material manner any right of the Holder without his/her written consent. Only a written instrument executed and delivered by the party waiving compliance hereof shall make any waiver of the terms or conditions effective. Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than the Holder. The failure of any party at any time or times to require performance of any provisions hereof shall in no manner affect the right to enforce the same. No waiver by any party of any term or condition, or the breach of any term or condition

-5-    2010 Plan; Officer PUA Agreement

contained in this Agreement, in one or more instances, shall be construed as a continuing waiver of any such condition or breach, a waiver of any other condition, or the breach of any other term or condition.

14. Governing Law and Severability. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with applicable United States federal law and the laws of the State of Texas, without regard to any conflict of laws principles, except to the extent that the laws of Ireland mandatorily apply. The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect

15. Successors and Assigns. Subject to the limitations which this Agreement and the Plan impose upon the transferability of the Units, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and to the Holder, his permitted assigns and, upon the Holder’s death, the Holder’s estate and beneficiaries thereof (whether by will or the laws of descent and distribution), executors, administrators, agents, and legal and personal representatives.

16. Electronic Delivery and Execution. The Holder hereby consents and agrees to electronic delivery of any documents that the Company may elect to deliver (including, but not limited to, plan documents, prospectus and prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports, and all other forms of communications) in connection with this and any other Award made or offered under the Plan. The Holder understands that, unless revoked by the Holder by giving written notice to the Company pursuant to the Plan, this consent will be effective for the duration of the Agreement. The Holder also understands that he or she will have the right at any time to request that the Company deliver written copies of any and all materials referred to above. The Holder hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may elect to deliver, and agree that his or her electronic signature is the same as, and will have the same force and effect as, his or her manual signature. The Holder hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

17. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original for all purposes but all of which taken together shall constitute but one and the same instrument.

18.    Acknowledgements. The Holder acknowledges and agrees to the following:

a. The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

b. the grant of the Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Units, or benefits in lieu of Units, even if Units have been granted in the past;

c. all decisions with respect to future Unit or other grants, if any, will be at the sole discretion of the Company;

-6-    2010 Plan; Officer PUA Agreement

d. the Holder is voluntarily participating in the Plan;

e. the Units and the Shares subject to the Units are not intended to replace any pension rights or compensation;

f. the Units and the Shares subject to the Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

g. the future value of the Shares underlying the Units is unknown, indeterminable and cannot be predicted with certainty;

h. no claim or entitlement to compensation or damages shall arise from forfeiture of the Units resulting from the termination of the Holder’s employment or affiliation (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Holder is employed or the terms of the Employment Agreement, if any), and in consideration of the grant of the Units to which the Holder is otherwise not entitled, the Holder irrevocably agrees never to institute any claim against the Company,any of its Affiliates or the Employer, waives his or her ability, if any, to bring any such claim, and releases the Company,its Affiliatesand the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, the Holder shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim;

i. for purposes of Units and unless otherwise expressly provided in this Agreement or determined by the Company, the Holder’s right to vest in the Units under the Plan, if any, will terminate as of such termination date as determined by the Committee pursuant to Section 9 of this Agreement and will not be extended by any notice period (e.g., Holder’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where the Holder is employed or the terms of the Holder’s Employment Agreement, if any); the Committee shall have the exclusive discretion to determine when the Holder is no longer actively providing services for purposes of the Unit grant (including whether Holder may still be considered to be providing services while on a leave of absence);

j. unless otherwise provided in the Plan or by the Company in its discretion, the Units and the benefits evidenced by this Agreement do not create any entitlement to have the Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the shares of the Company;

k. the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Holder’s participation in the Plan, or the Holder’s acquisition or sale of the underlying Shares. The Holder is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan; and

l. the following provisions apply only if the Holder is providing services outside the United States:

-7-    2010 Plan; Officer PUA Agreement

(i)    the Units and the Shares subject to the Units are not part of normal or expected compensation or salary for any purpose;

(ii)    The Holder acknowledges and agrees that neither the Company, the Employer nor any Affiliate shall be liable for any foreign exchange rate fluctuation between Holder’s local currency and the United States Dollar that may affect the value of the Units or of any amounts due to the Holder pursuant to the settlement of the Units or the subsequent sale of any Shares acquired upon settlement.

19.    Section 409A.

(a) The delivery of the Holder’s Shares as described in Section 6 shall be made in accordance with such Section, provided that with respect to delivery due to termination of employment for reasons other than death, the delivery at such time can be characterized as a “short-term deferral” for purposes of Section 409A or as otherwise exempt from the provisions of Section 409A, or if any portion of the delivery cannot be so characterized, and the Holder is a “specified employee” under Section 409A, such portion of the delivery shall be delayed until the earlier to occur of the Holder’s death or the date that is six months and one day following the Holder’s termination of employment. For purposes of this Agreement, the terms “terminates,” “terminated,” “termination,” “termination of employment,” and variations thereof, as used in this Agreement to refer to the Holder’s termination of employment, are intended to mean a termination of employment that constitutes a “separation from service” under Section 409A.

(b) This Agreement and the Units provided hereunder are intended to comply with Section 409A to the extent applicable thereto. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted and construed consistent with this intent. Although the Company and the Committee intend to administer this Agreement so that it will comply with the requirements of Section 409A, to the extent applicable, neither the Company nor the Committee represents or warrants that this Agreement will comply with Section 409A or any other provision of federal, state, local, or non-United States law. Neither the Company or its Affiliates, nor their respective directors, officers, employees or advisers shall be liable to any Holder (or any other individual claiming a benefit through the Holder) for any tax, interest, or penalties the Holder might owe as a result of participation in the Plan, and the Company and its Affiliates shall have no obligation to indemnify or otherwise protect any Holder from the obligation to pay any taxes pursuant to Section 409A.

20. Language.If the Holder has received this Agreement, or any other document related to the Units and/or the Plan translated into a language other than English and if the translated version is different than the English version, the English version will control.

21. Appendix. Notwithstanding any provisions in this Agreement, the Units shall be subject to any special terms and conditions set forth in any Appendix to this Agreement for the Holder’s country. Moreover, if the Holder relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to the Holder, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.

22. Imposition of Other Requirements. The Company reserves the right to impose other requirements on the Holder’s participation in the Plan, on the Units and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons,

-8-    2010 Plan; Officer PUA Agreement

and to require the Holder to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

23. Waiver. The Holder acknowledges that a waiver by the Company or breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by the Holder or any other Plan participants.

By the Holder’s execution or electronic acceptance of this Agreement (including the country-specific appendix attached hereto) in the manner specified in the Holder’s online account with the Company’s designated broker/stock plan administrator, the Holder and the Company have agreed that the Units are granted under and governed by the terms and conditions of the Plan and this Agreement (including any country-specific appendix attached hereto).

[Signature page follows]

-9-    2010 Plan; Officer PUA Agreement

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunto duly authorized, and the Holder has executed this Agreement, all as of the date first above written.

WEATHERFORD INTERNATIONAL PLC

By:

ADDRESS:

Bahnhofstrasse 1    

Baar 6340, Switzerland

Attn: Corporate Secretary

HOLDER:

By: ____________________

(Signature page to the Performance Units Award Agreement)

Annex A — Performance Goal

The Performance Goal used to determine the extent of conversion of the Units into Shares will be Weatherford’s closing stock price of the Shares (“Stock Price”) averaged for all trading days in the last month of each calendar year ending ____, ____ and ____.

Performance Goal Conversion Percentage* Average Weatherford International plc closing Stock Price ($ per share) on each trading day in December in the calendar year ending:

*Will be interpolated for intermediate results within the stock price range shown.

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Bernard J. Duroc-Danner, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Weatherford International plc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 24, 2015

/s/ Bernard J. Duroc-Danner

Bernard J. Duroc-Danner

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Krishna Shivram, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Weatherford International plc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 24, 2015

/s/ Krishna Shivram

Krishna Shivram

Executive Vice President and

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Weatherford International plc (the "Company") for the period ended March 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Bernard J. Duroc-Danner, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Bernard J. Duroc-Danner

Name:    Bernard J. Duroc-Danner

Title:Chief Executive Officer

Date:    April 24, 2015

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The certification the registrant furnishes in this exhibit is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.  Registration Statements or other documents filed with the Securities and Exchange Commission shall not incorporate this exhibit by reference, except as otherwise expressly stated in such filing.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-K of Weatherford International plc (the "Company") for the period ended March 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Krishna Shivram, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Krishna Shivram

Name:  K     Krishna Shivram

Title:    Executive Vice President and Chief Financial Officer

Date:      April 24, 2015

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The certification the registrant furnishes in this exhibit is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.  Registration Statements or other documents filed with the Securities and Exchange Commission shall not incorporate this exhibit by reference, except as otherwise expressly stated in such filing.

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Shareholders' Equity

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following summarizes our shareholders’ equity activity for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Par Value of Issued Shares		Capital In Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Shares			Non-controlling Interests			Total Shareholders’ Equity
Balance at December 31, 2013	$	775	$	4,600	$	3,011		$	(187	)	$	(37	)	$	41		$	8,203
Net Income (Loss)	—		—		(41		)	—			—			9			(32		)
Other Comprehensive Loss	—		—		—			(202		)	—			—			(202		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(6		)	(6		)
Equity Awards Granted, Vested and Exercised	2		3		—			—			3			—			8
Balance at March 31, 2014	$	777	$	4,603	$	2,970		$	(389	)	$	(34	)	$	44		$	7,971
Balance at December 31, 2014	$	1	$	5,411	$	2,427		$	(881	)	$	—		$	75		$	7,033
Net Income (Loss)	—		—		(118		)	—			—			11			(107		)
Other Comprehensive Loss	—		—		—			(323		)	—			—			(323		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(18		)	(18		)
Equity Awards Granted, Vested and Exercised	—		12		—			—			—			—			12
Other	—		—		—			—			—			1			1
Balance at March 31, 2015	$	1	$	5,423	$	2,309		$	(1,204	)	$	—		$	69		$	6,598

The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2013	$	(140	)	$	(38	)	$	(9	)	$	(187	)
Other comprehensive loss	(202		)	—			—			(202		)
Balance at March 31, 2014	$	(342	)	$	(38	)	$	(9	)	$	(389	)
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)
Other comprehensive income (loss) before reclassifications	(345		)	20			—			(325		)
Reclassifications	—			2			—			2
Net activity	(345		)	22			—			(323		)
Balance at March 31, 2015	$	(1,158	)	$	(35	)	$	(11	)	$	(1,204	)

The other comprehensive income before reclassifications from the defined benefit pension component of other comprehensive income relates to the conversion of one of our international pension plans from a defined benefit plan to a defined contribution plan.

XML

Shareholders' Equity (Narrative) (Details) In Millions, except Share data, unless otherwise specified	3 Months Ended		3 Months Ended
	Mar. 31, 2015 USD ($)	Dec. 31, 2014 CHF	Mar. 31, 2015 Accumulated Translation Adjustment [Member] USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common Shares, Authorized (in shares)	1,356,000,000	1,356,000,000
Common Shares, Par Value (in USD and CHF per share, respectively)	$ 0.001	0.001
Common Shares, Issued (in shares)	774,000,000	774,000,000
Reclassifications from AOCI	$ (2)		$ 0

XML

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and Cash Equivalents	$ 512	$ 474
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $111 and $108	2,631	3,015
Inventories, Net	3,052	3,087
Deferred Tax Assets	294	303
Other Current Assets	1,103	1,065
Total Current Assets	7,592	7,944
Property, Plant and Equipment, Net of Accumulated Depreciation of $6,976 and $6,895	6,932	7,123
Goodwill	2,905	3,011
Other Intangible Assets, Net of Accumulated Amortization of $746 and $744	406	440
Equity Investments	101	106
Other Non-Current Assets	287	265
Total Assets	18,223	18,889
Current Liabilities:
Short-term Borrowings and Current Portion of Long-term Debt	1,554	727
Accounts Payable	1,462	1,736
Accrued Salaries and Benefits	387	425
Income Taxes Payable	198	230
Other Current Liabilities	792	909
Total Current Liabilities	4,393	4,027
Long-term Debt	6,278	6,798
Other Non-Current Liabilities	954	1,031
Total Liabilities	11,625	11,856
Shareholders’ Equity:
Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 774 shares at March 31, 2015 and December 31, 2014	1	1
Capital in Excess of Par Value	5,423	5,411
Retained Earnings	2,309	2,427
Accumulated Other Comprehensive Loss	(1,204)	(881)
Weatherford Shareholders’ Equity	6,529	6,958
Noncontrolling Interests	69	75
Total Shareholders’ Equity	6,598	7,033
Total Liabilities and Shareholders’ Equity	$ 18,223	$ 18,889

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Restructuring Charges

3 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

In the fourth quarter of 2014, in response to the significant decline in the price of crude oil and our anticipation of a lower level of exploration and production spending in 2015, we initiated a plan to reduce our overall costs and workforce to better align with anticipated activity levels. This cost reduction plan (the “2015 Plan”) includes a workforce reduction and other cost reduction measures initiated across our geographic regions. In connection with the 2015 Plan, we recognized restructuring charges of $41 million in the three months ended March 31, 2015. Our restructuring charges include termination (severance) benefits of $40 million and other restructuring charges of $1 million. Other restructuring charges include contract termination costs, relocation and other associated costs.

In the first quarter of 2014, we announced a cost reduction plan (the “2014 Plan”), which included a worldwide workforce reduction and other cost reduction measures. The 2014 Plan resulted in restructuring charges of $70 million primarily related to termination (severance) benefits in the three months ended March 31, 2014. As of December 31, 2014, we completed our planned headcount reductions and closures of underperforming operating locations in connection with the 2014 Plan.

The following tables present the components of the 2015 Plan and the 2014 Plan restructuring charges by segment for the three months ended March 31, 2015 and 2014.

	Three Months Ended March 31, 2015
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2015 Plan	Charges		Charges		Other Charges
North America	$	8	$	—	$	8
MENA/Asia Pacific	5		1		6
Europe/SSA/Russia	7		—		7
Latin America	12		—		12
Subtotal	32		1		33
Land Drilling Rigs	5		—		5
Corporate and Research and Development	3		—		3
Total	$	40	$	1	$	41

	Three Months Ended March 31, 2014
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2014 Plan	Charges		Charges		Other Charges
North America	$	9	$	—	$	9
MENA/Asia Pacific	4		—		4
Europe/SSA/Russia	15		4		19
Latin America	19		—		19
Subtotal	47		4		51
Land Drilling Rigs	3		—		3
Corporate and Research and Development	16		—		16
Total	$	66	$	4	$	70

The severance and other restructuring charges gave rise to certain liabilities, the components of which are summarized below, and largely relate to the severance accrued as part of both plans that will be paid pursuant to the respective arrangements and statutory requirements.

	Three Months Ended March 31, 2015
	2015 Plan				2014 Plan				Total Severance
			Other				Other		and Other
	Severance		Restructuring		Severance		Restructuring		Restructuring
(Dollars in millions)	Liability		Liability		Liability		Liability		Liability
North America	$	16	$	—	$	—	$	1	$	17
MENA/Asia Pacific	6		1		1		4		12
Europe/SSA/Russia	7		—		—		4		11
Latin America	3		—		—		—		3
Subtotal	32		1		1		9		43
Land Drilling Rigs	1		—		—		—		1
Corporate and Research and Development	—		—		5		—		5
Total	$	33	$	1	$	6	$	9	$	49

The following table presents the restructuring liability activity for the three months ended March 31, 2015.

			Three Months Ended March 31, 2015
(Dollars in millions)	Accrued Balance at December 31, 2014		Charges		Cash Payments			Other			Accrued Balance at March 31, 2015
2015 Plan:
Severance liability	$	53	$	40	$	(58	)	$	(2	)	$	33
Other restructuring liability	—		1		—			—			1
2014 Plan:
Severance liability	14		—		(6		)	(2		)	6
Other restructuring liability	12		—		(1		)	(2		)	9
Total severance and other restructuring liability	$	79	$	41	$	(65	)	$	(6	)	$	49

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General (Policies)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Accounting

The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company”) are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments of a normal recurring nature which, in our opinion, are necessary to present fairly our Condensed Consolidated Balance Sheet at March 31, 2015 and December 31, 2014, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Income (Loss) and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2015 and 2014. When referring to “Weatherford” and using phrases such as “we,” “us,” and “our,” the intent is to refer to Weatherford International plc, a public limited company organized under the law of Ireland, and its subsidiaries as a whole or on a regional basis, depending on the context in which the statements are made.

Although we believe the disclosures in these financial statements are adequate, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in this Form 10-Q pursuant to U.S. Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or market of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Principles of Consolidation

Principles of Consolidation

We consolidate all wholly-owned subsidiaries, controlled joint ventures and variable interest entities where the Company has determined it is the primary beneficiary. Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation.

New Accounting Pronouncements, Policy [Policy Text Block]

In February 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related Note disclosures.

In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non public entities reporting under U.S. GAAP. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements or Note disclosures.

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Share-Based Compensation (Schedule of Share-based Compensation Expense) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	$ 15	$ 15
Related tax benefit	$ 3	$ 3

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Earnings per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

Basic earnings per share for all periods presented equals net income divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of our shares outstanding during the period including participating securities, adjusted for the dilutive effect of our stock options, restricted shares and performance units.

The following discloses basic and diluted weighted average shares outstanding:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Basic and diluted weighted average shares outstanding	778	776

Our basic and diluted weighted average shares outstanding for the periods presented are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the three months ended March 31, 2015 and 2014 exclude potential shares for stock options, restricted shares and performance units outstanding as we have net losses for that period and their inclusion would be anti-dilutive.

The following table discloses the number of anti-dilutive shares excluded:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Anti-dilutive potential shares due to net loss	2	5

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Derivative Instruments (Schedule of Derivatives - Income Statement) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Interest rate swap [Member] | Interest Expense, Net [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 2	$ 2
Foreign currency forward contracts [Member] | Other, Net [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	(66)	(11)
Cross-currency swap contracts [Member] | Other, Net [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 13	$ 9

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Share-Based Compensation (Narrative) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015
Performance units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1.6
Weighted-average grant date fair value (in dollars per share)	$ 10.45
Fair value, risk-free rate	0.51%
Fair value, volatility rate	46.10%
Fair value, dividend yield	0.00%
Unrecognized compensation expense	$ 23
Unrecognized compensation expense, recognition period	2 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1.7
Weighted-average grant date fair value (in dollars per share)	$ 11.46
Unrecognized compensation expense	$ 81
Unrecognized compensation expense, recognition period	2 years

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Business Combinations (Details) (Company that Designs and Produces Well Completion Tools [Member], USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Company that Designs and Produces Well Completion Tools [Member]
Business Acquisition [Line Items]
Contingent consideration arrangement	$ 12	$ 3

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Goodwill (Tables)

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2015 were as follows:

(Dollars in millions)	North America			MENA/ Asia Pacific			Europe/ SSA/ Russia			Latin America			Land Drilling Rigs		Total
Balance at December 31, 2014	$	1,896		$	195		$	623		$	297		$	—	$	3,011
Foreign currency translation adjustments	(73		)	(3		)	(25		)	(5		)	—		(106		)
Balance at March 31, 2015	$	1,823		$	192		$	598		$	292		$	—	$	2,905

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Inventories, Net (Tables)

3 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

Components of Inventory

Inventories, net of reserves, by category were as follows:

(Dollars in millions)	March 31, 2015		December 31, 2014
Raw materials, components and supplies	$	170	$	194
Work in process	117		135
Finished goods	2,765		2,758
	$	3,052	$	3,087

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Fair Value of Financial Instruments (Details) (Senior Notes [Member], Level 2 [Member], USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 6,592	$ 6,733
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 6,498	$ 6,660

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Segment Information (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Financial information by segment

Financial information by segment is summarized below. Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our Form 10-K.

	Three Months Ended March 31, 2015
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,163	$	(10	)	$	105
MENA/Asia Pacific	533		60			65
Europe/SSA/Russia	417		71			50
Latin America	486		98			61
Subtotal	2,599		219			281
Land Drilling Rigs	195		10			29
	2,794		229			310
Corporate and Research and Development			(120		)	6
Restructuring Charges (a)			(41		)
Gain on Sale of Business, Net			3
Other Items (b)			(21		)
Total	$	2,794	$	50		$	316

(a) For the three months ended March 31, 2015, we recognized restructuring charges of $41 million: $8 million in North America, $6 million in MENA/Asia Pacific, $7 million in Europe/SSA/Russia, $12 million in Latin America, $5 million in Land Drilling Rigs and $3 million in Corporate and Research and Development.

(b) The three months ended March 31, 2015 includes professional fees of $13 million related to the divestiture of our non-core businesses, restatement related litigation, post-settlement monitor and auditor expenses and other charges of $8 million.

	Three Months Ended March 31, 2014
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,610	$	196		$	107
MENA/Asia Pacific	619		5			72
Europe/SSA/Russia	516		78			54
Latin America	509		90			58
Subtotal	3,254		369			291
Land Drilling Rigs	342		(27		)	54
	3,596		342			345
Corporate and Research and Development			(116		)	6
Restructuring Charges (c)			(70		)
Other Items (d)			(26		)
Total	$	3,596	$	130		$	351

(c) For the three months ended March 31, 2014, we recognized restructuring charges of $70 million: $9 million in North America, $4 million in MENA/Asia Pacific, $19 million in Europe/SSA/Russia, $19 million in Latin America, $3 million in Land Drilling Rigs and $16 million in Corporate and Research and Development.

(d) The three months ended March 31, 2014 includes professional fees of $23 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations and redomestication and other charges of $3 million.

The following table presents total assets by segment for each period ended:

	Total Assets
	March 31,		December 31,
(Dollars in millions)	2015		2014
North America	$	6,675	$	7,297
MENA/Asia Pacific	3,006		3,022
Europe/SSA/Russia	3,132		3,106
Latin America	3,163		3,211
Subtotal	15,976		16,636
Land Drilling Rigs	1,880		1,907
	17,856		18,543
Corporate and Research and Development	367		346
Total	$	18,223	$	18,889

Total assets in the United States, which is part of our North America segment, were $5.7 billion and $6.1 billion as of March 31, 2015 and December 31, 2014, respectively. The remaining North America total assets balance of $1 billion and $1.2 billion, respectively as of March 31, 2015 and December 31, 2014, is related to our operations in Canada.

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Restructuring Charges (Restructuring Charges) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 41	$ 70
2014 Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		70
2014 Plan [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		16
2014 Plan [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		9
2014 Plan [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		4
2014 Plan [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		19
2014 Plan [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		19
2014 Plan [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		51
2014 Plan [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		3
2014 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6		14
Severance, asset impairment and other restructuring charges	0
2014 Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	9		12
Severance, asset impairment and other restructuring charges	0	4
2014 Plan [Member] | Other Restructuring [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		0
2014 Plan [Member] | Other Restructuring [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1
Severance, asset impairment and other restructuring charges		0
2014 Plan [Member] | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	4
Severance, asset impairment and other restructuring charges		0
2014 Plan [Member] | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	4
Severance, asset impairment and other restructuring charges		4
2014 Plan [Member] | Other Restructuring [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		0
2014 Plan [Member] | Other Restructuring [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	9
Severance, asset impairment and other restructuring charges		4
2014 Plan [Member] | Other Restructuring [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		0
2014 Plan [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6
Severance, asset impairment and other restructuring charges		66
2014 Plan [Member] | Employee Severance [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	5
Severance, asset impairment and other restructuring charges		16
2014 Plan [Member] | Employee Severance [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		9
2014 Plan [Member] | Employee Severance [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1
Severance, asset impairment and other restructuring charges		4
2014 Plan [Member] | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		15
2014 Plan [Member] | Employee Severance [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		19
2014 Plan [Member] | Employee Severance [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1
Severance, asset impairment and other restructuring charges		47
2014 Plan [Member] | Employee Severance [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges		3
2015 Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	41
2015 Plan [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	3
2015 Plan [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	8
2015 Plan [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	6
2015 Plan [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	7
2015 Plan [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	12
2015 Plan [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	33
2015 Plan [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	5
2015 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	33		53
Severance, asset impairment and other restructuring charges	40
2015 Plan [Member] | One-time Termination Benefits [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	3
2015 Plan [Member] | One-time Termination Benefits [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	8
2015 Plan [Member] | One-time Termination Benefits [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	5
2015 Plan [Member] | One-time Termination Benefits [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	7
2015 Plan [Member] | One-time Termination Benefits [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	12
2015 Plan [Member] | One-time Termination Benefits [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	32
2015 Plan [Member] | One-time Termination Benefits [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	5
2015 Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1		0
Severance, asset impairment and other restructuring charges	1
2015 Plan [Member] | Other Restructuring [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges	0
2015 Plan [Member] | Other Restructuring [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges	0
2015 Plan [Member] | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1
Severance, asset impairment and other restructuring charges	1
2015 Plan [Member] | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges	0
2015 Plan [Member] | Other Restructuring [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges	0
2015 Plan [Member] | Other Restructuring [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1
Severance, asset impairment and other restructuring charges	1
2015 Plan [Member] | Other Restructuring [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Severance, asset impairment and other restructuring charges	0
2015 Plan [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	33
2015 Plan [Member] | Employee Severance [Member] | Corporate and Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
2015 Plan [Member] | Employee Severance [Member] | North America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	16
2015 Plan [Member] | Employee Severance [Member] | MENA/ Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6
2015 Plan [Member] | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	7
2015 Plan [Member] | Employee Severance [Member] | Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	3
2015 Plan [Member] | Employee Severance [Member] | Core Regional Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	32
2015 Plan [Member] | Employee Severance [Member] | Land Drilling Rigs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 1

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Derivative Instruments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Derivative [Line Items]
Proceeds from Derivative Instrument, Financing Activities	$ 8
Foreign currency forward contracts [Member]
Derivative [Line Items]
Notional amount	1,300		1,600
Cross-currency swap contracts [Member]
Derivative [Line Items]
Notional amount			168
Fair Value Hedging [Member] | Interest rate swap [Member]
Derivative [Line Items]
Deferred (gain) loss on discontinuation of fair value hedge	(31)
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Gain (loss) on derivative	(66)	(11)
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member] | Cross-currency swap contracts [Member]
Derivative [Line Items]
Gain (loss) on derivative	$ 13	$ 9

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Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Schedule of Stockholders Equity

The following summarizes our shareholders’ equity activity for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Par Value of Issued Shares		Capital In Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Shares			Non-controlling Interests			Total Shareholders’ Equity
Balance at December 31, 2013	$	775	$	4,600	$	3,011		$	(187	)	$	(37	)	$	41		$	8,203
Net Income (Loss)	—		—		(41		)	—			—			9			(32		)
Other Comprehensive Loss	—		—		—			(202		)	—			—			(202		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(6		)	(6		)
Equity Awards Granted, Vested and Exercised	2		3		—			—			3			—			8
Balance at March 31, 2014	$	777	$	4,603	$	2,970		$	(389	)	$	(34	)	$	44		$	7,971
Balance at December 31, 2014	$	1	$	5,411	$	2,427		$	(881	)	$	—		$	75		$	7,033
Net Income (Loss)	—		—		(118		)	—			—			11			(107		)
Other Comprehensive Loss	—		—		—			(323		)	—			—			(323		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—			(18		)	(18		)
Equity Awards Granted, Vested and Exercised	—		12		—			—			—			—			12
Other	—		—		—			—			—			1			1
Balance at March 31, 2015	$	1	$	5,423	$	2,309		$	(1,204	)	$	—		$	69		$	6,598

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2015 and 2014:

(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2013	$	(140	)	$	(38	)	$	(9	)	$	(187	)
Other comprehensive loss	(202		)	—			—			(202		)
Balance at March 31, 2014	$	(342	)	$	(38	)	$	(9	)	$	(389	)
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)
Other comprehensive income (loss) before reclassifications	(345		)	20			—			(325		)
Reclassifications	—			2			—			2
Net activity	(345		)	22			—			(323		)
Balance at March 31, 2015	$	(1,158	)	$	(35	)	$	(11	)	$	(1,204	)

XML

Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Cash Flows) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	$ (107,000,000)	$ (32,000,000)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	0	0
Equity in (Earnings) Loss of Affiliates	0	0
Deferred Income Tax Provision (Benefit)	(36,000,000)	44,000,000
Other Adjustments	101,000,000	(418,000,000)
Net Cash Used in Operating Activities	(42,000,000)	(406,000,000)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(224,000,000)	(286,000,000)
Acquisition of Intellectual Property	0	(2,000,000)
Proceeds from Sale of Assets and Businesses, Net	3,000,000	14,000,000
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities	(221,000,000)	(274,000,000)
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	479,000,000	625,000,000
Borrowings (Repayments) Long-term Debt, Net	(154,000,000)	(17,000,000)
Borrowings (Repayments) Between Subsidiaries, Net	0	0
Other, Net	(18,000,000)	(3,000,000)
Net Cash Provided by Financing Activities	307,000,000	605,000,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6,000,000)	7,000,000
Net Increase in Cash and Cash Equivalents	38,000,000	(68,000,000)
Cash and Cash Equivalents at Beginning of Period	474,000,000	435,000,000
Cash and Cash Equivalents at End of Period	512,000,000	367,000,000
Weatherford Switzerland [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss		(41,000,000)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary		0
Equity in (Earnings) Loss of Affiliates		21,000,000
Deferred Income Tax Provision (Benefit)		0
Other Adjustments		45,000,000
Net Cash Used in Operating Activities		25,000,000
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment		0
Acquisition of Intellectual Property		0
Proceeds from Sale of Assets and Businesses, Net		0
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities		0
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net		0
Borrowings (Repayments) Long-term Debt, Net		0
Borrowings (Repayments) Between Subsidiaries, Net		(19,000,000)
Other, Net		(2,000,000)
Net Cash Provided by Financing Activities		(21,000,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents		0
Net Increase in Cash and Cash Equivalents		4,000,000
Cash and Cash Equivalents at Beginning of Period		0
Cash and Cash Equivalents at End of Period		4,000,000
Weatherford Ireland [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	(118,000,000)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	0
Equity in (Earnings) Loss of Affiliates	111,000,000
Deferred Income Tax Provision (Benefit)	0
Other Adjustments	(6,000,000)
Net Cash Used in Operating Activities	(13,000,000)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	0
Proceeds from Sale of Assets and Businesses, Net	0
Net Cash Used in Investing Activities	0
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	0
Borrowings (Repayments) Long-term Debt, Net	0
Borrowings (Repayments) Between Subsidiaries, Net	12,000,000
Other, Net	0
Net Cash Provided by Financing Activities	12,000,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0
Net Increase in Cash and Cash Equivalents	(1,000,000)
Cash and Cash Equivalents at Beginning of Period	1,000,000
Cash and Cash Equivalents at End of Period	0
Weatherford Bermuda [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	(64,000,000)	7,319,000,000
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	15,000,000	(7,348,000,000)
Equity in (Earnings) Loss of Affiliates	(75,000,000)	(80,000,000)
Deferred Income Tax Provision (Benefit)	0	0
Other Adjustments	136,000,000	(322,000,000)
Net Cash Used in Operating Activities	12,000,000	(431,000,000)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	0	0
Acquisition of Intellectual Property		0
Proceeds from Sale of Assets and Businesses, Net	0	0
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities	0	0
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	498,000,000	635,000,000
Borrowings (Repayments) Long-term Debt, Net	(147,000,000)	0
Borrowings (Repayments) Between Subsidiaries, Net	(329,000,000)	(204,000,000)
Other, Net	0	0
Net Cash Provided by Financing Activities	22,000,000	431,000,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase in Cash and Cash Equivalents	34,000,000	0
Cash and Cash Equivalents at Beginning of Period	0	0
Cash and Cash Equivalents at End of Period	34,000,000	0
Weatherford Delaware [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	(33,000,000)	1,000,000
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	0	0
Equity in (Earnings) Loss of Affiliates	25,000,000	(11,000,000)
Deferred Income Tax Provision (Benefit)	(5,000,000)	0
Other Adjustments	27,000,000	(2,000,000)
Net Cash Used in Operating Activities	14,000,000	(12,000,000)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	0	0
Acquisition of Intellectual Property		0
Proceeds from Sale of Assets and Businesses, Net	0	0
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities	0	0
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	0	0
Borrowings (Repayments) Long-term Debt, Net	(1,000,000)	(3,000,000)
Borrowings (Repayments) Between Subsidiaries, Net	(13,000,000)	(7,000,000)
Other, Net	0	22,000,000
Net Cash Provided by Financing Activities	(14,000,000)	12,000,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase in Cash and Cash Equivalents	0	0
Cash and Cash Equivalents at Beginning of Period	22,000,000	0
Cash and Cash Equivalents at End of Period	22,000,000	0
Other Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	47,000,000	(7,241,000,000)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	(15,000,000)	7,348,000,000
Equity in (Earnings) Loss of Affiliates	0	0
Deferred Income Tax Provision (Benefit)	(31,000,000)	44,000,000
Other Adjustments	(56,000,000)	(139,000,000)
Net Cash Used in Operating Activities	(55,000,000)	12,000,000
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(224,000,000)	(286,000,000)
Acquisition of Intellectual Property		(2,000,000)
Proceeds from Sale of Assets and Businesses, Net	3,000,000	14,000,000
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities	(221,000,000)	(274,000,000)
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	(19,000,000)	(10,000,000)
Borrowings (Repayments) Long-term Debt, Net	(6,000,000)	(14,000,000)
Borrowings (Repayments) Between Subsidiaries, Net	330,000,000	230,000,000
Other, Net	(18,000,000)	(23,000,000)
Net Cash Provided by Financing Activities	287,000,000	183,000,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6,000,000)	7,000,000
Net Increase in Cash and Cash Equivalents	5,000,000	(72,000,000)
Cash and Cash Equivalents at Beginning of Period	451,000,000	435,000,000
Cash and Cash Equivalents at End of Period	456,000,000	363,000,000
Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	61,000,000	(70,000,000)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	0	0
Equity in (Earnings) Loss of Affiliates	(61,000,000)	70,000,000
Deferred Income Tax Provision (Benefit)	0	0
Other Adjustments	0	0
Net Cash Used in Operating Activities	0	0
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	0	0
Acquisition of Intellectual Property		0
Proceeds from Sale of Assets and Businesses, Net	0	0
Capital Contribution to Subsidiary		0
Net Cash Used in Investing Activities	0	0
Cash Flows From Financing Activities:
Borrowings of Short-term Debt, Net	0	0
Borrowings (Repayments) Long-term Debt, Net	0	0
Borrowings (Repayments) Between Subsidiaries, Net	0	0
Other, Net	0	0
Net Cash Provided by Financing Activities	0	0
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase in Cash and Cash Equivalents	0	0
Cash and Cash Equivalents at Beginning of Period	0	0
Cash and Cash Equivalents at End of Period	$ 0	$ 0

XML

Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Current Assets
Cash and Cash Equivalents	$ 512	$ 474	$ 367	$ 435
Other Current Assets	7,080	7,470
Total Current Assets	7,592	7,944
Equity Investments in Affiliates	0	0
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	10,631	10,945
Total Assets	18,223	18,889
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	1,554	727
Accounts Payable and Other Current Liabilities	2,839	3,300
Total Current Liabilities	4,393	4,027
Long-term Debt	6,278	6,798
Intercompany Payables, Net	0	0
Other Long-term Liabilities	954	1,031
Total Liabilities	11,625	11,856
Weatherford Shareholders’ Equity	6,529	6,958
Noncontrolling Interests	69	75
Total Liabilities and Shareholders’ Equity	18,223	18,889
Weatherford Ireland [Member]
Current Assets
Cash and Cash Equivalents	0	1
Other Current Assets	4
Total Current Assets	4
Equity Investments in Affiliates	8,242
Intercompany Receivables, Net	0
Other Assets	4
Total Assets	8,250
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	0
Accounts Payable and Other Current Liabilities	42
Total Current Liabilities	42
Long-term Debt	0
Intercompany Payables, Net	1,668
Other Long-term Liabilities	11
Total Liabilities	1,721
Weatherford Shareholders’ Equity	6,529
Noncontrolling Interests	0
Total Liabilities and Shareholders’ Equity	8,250
Weatherford Switzerland [Member]
Current Assets
Cash and Cash Equivalents		1	4	0
Other Current Assets		4
Total Current Assets		5
Equity Investments in Affiliates		8,662
Equity Held in Parent		0
Intercompany Receivables, Net		0
Other Assets		5
Total Assets		8,672
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt		0
Accounts Payable and Other Current Liabilities		43
Total Current Liabilities		43
Long-term Debt		0
Intercompany Payables, Net		1,666
Other Long-term Liabilities		5
Total Liabilities		1,714
Weatherford Shareholders’ Equity		6,958
Noncontrolling Interests		0
Total Liabilities and Shareholders’ Equity		8,672
Weatherford Bermuda [Member]
Current Assets
Cash and Cash Equivalents	34	0	0	0
Other Current Assets	0	12
Total Current Assets	34	12
Equity Investments in Affiliates	10,613	10,490
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	33	35
Total Assets	10,680	10,537
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	1,466	618
Accounts Payable and Other Current Liabilities	185	256
Total Current Liabilities	1,651	874
Long-term Debt	5,239	5,749
Intercompany Payables, Net	5,836	6,202
Other Long-term Liabilities	77	82
Total Liabilities	12,803	12,907
Weatherford Shareholders’ Equity	(2,123)	(2,370)
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	10,680	10,537
Weatherford Delaware [Member]
Current Assets
Cash and Cash Equivalents	22	22	0	0
Other Current Assets	532	544
Total Current Assets	554	566
Equity Investments in Affiliates	9,707	9,730
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	20	16
Total Assets	10,281	10,312
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	6	6
Accounts Payable and Other Current Liabilities	0	0
Total Current Liabilities	6	6
Long-term Debt	910	911
Intercompany Payables, Net	2,612	2,622
Other Long-term Liabilities	5	5
Total Liabilities	3,533	3,544
Weatherford Shareholders’ Equity	6,748	6,768
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	10,281	10,312
Other Subsidiaries [Member]
Current Assets
Cash and Cash Equivalents	456	451	363	435
Other Current Assets	7,138	7,524
Total Current Assets	7,594	7,975
Equity Investments in Affiliates	3,926	3,974
Equity Held in Parent		0
Intercompany Receivables, Net	10,116	10,490
Other Assets	10,574	10,889
Total Assets	32,210	33,328
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	82	103
Accounts Payable and Other Current Liabilities	3,206	3,615
Total Current Liabilities	3,288	3,718
Long-term Debt	129	137
Intercompany Payables, Net	0	0
Other Long-term Liabilities	861	939
Total Liabilities	4,278	4,794
Weatherford Shareholders’ Equity	27,863	28,459
Noncontrolling Interests	69	75
Total Liabilities and Shareholders’ Equity	32,210	33,328
Eliminations [Member]
Current Assets
Cash and Cash Equivalents	0	0	0	0
Other Current Assets	(594)	(614)
Total Current Assets	(594)	(614)
Equity Investments in Affiliates	(32,488)	(32,856)
Equity Held in Parent		0
Intercompany Receivables, Net	(10,116)	(10,490)
Other Assets	0	0
Total Assets	(43,198)	(43,960)
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	0	0
Accounts Payable and Other Current Liabilities	(594)	(614)
Total Current Liabilities	(594)	(614)
Long-term Debt	0	1
Intercompany Payables, Net	(10,116)	(10,490)
Other Long-term Liabilities	0	0
Total Liabilities	(10,710)	(11,103)
Weatherford Shareholders’ Equity	(32,488)	(32,857)
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	$ (43,198)	$ (43,960)

XML

Goodwill (Schedule of Goodwill) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015
Goodwill [Roll Forward]
Balance at December 31, 2014	$ 3,011
Foreign currency translation adjustments	(106)
Balance at March 31, 2015	2,905
North America [Member]
Goodwill [Roll Forward]
Balance at December 31, 2014	1,896
Foreign currency translation adjustments	(73)
Balance at March 31, 2015	1,823
MENA/ Asia Pacific [Member]
Goodwill [Roll Forward]
Balance at December 31, 2014	195
Foreign currency translation adjustments	(3)
Balance at March 31, 2015	192
Europe/ SSA/ Russia [Member]
Goodwill [Roll Forward]
Balance at December 31, 2014	623
Foreign currency translation adjustments	(25)
Balance at March 31, 2015	598
Latin America [Member]
Goodwill [Roll Forward]
Balance at December 31, 2014	297
Foreign currency translation adjustments	(5)
Balance at March 31, 2015	292
Land Drilling Rigs [Member]
Goodwill [Roll Forward]
Balance at December 31, 2014	0
Foreign currency translation adjustments	$ 0

XML

Restructuring Charges (Tables)

3 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges

The following tables present the components of the 2015 Plan and the 2014 Plan restructuring charges by segment for the three months ended March 31, 2015 and 2014.

	Three Months Ended March 31, 2015
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2015 Plan	Charges		Charges		Other Charges
North America	$	8	$	—	$	8
MENA/Asia Pacific	5		1		6
Europe/SSA/Russia	7		—		7
Latin America	12		—		12
Subtotal	32		1		33
Land Drilling Rigs	5		—		5
Corporate and Research and Development	3		—		3
Total	$	40	$	1	$	41

	Three Months Ended March 31, 2014
			Other		Total
(Dollars in millions)	Severance		Restructuring		Severance and
2014 Plan	Charges		Charges		Other Charges
North America	$	9	$	—	$	9
MENA/Asia Pacific	4		—		4
Europe/SSA/Russia	15		4		19
Latin America	19		—		19
Subtotal	47		4		51
Land Drilling Rigs	3		—		3
Corporate and Research and Development	16		—		16
Total	$	66	$	4	$	70

Schedule of Restructuring Reserve by Type of Cost

The severance and other restructuring charges gave rise to certain liabilities, the components of which are summarized below, and largely relate to the severance accrued as part of both plans that will be paid pursuant to the respective arrangements and statutory requirements.

	Three Months Ended March 31, 2015
	2015 Plan				2014 Plan				Total Severance
			Other				Other		and Other
	Severance		Restructuring		Severance		Restructuring		Restructuring
(Dollars in millions)	Liability		Liability		Liability		Liability		Liability
North America	$	16	$	—	$	—	$	1	$	17
MENA/Asia Pacific	6		1		1		4		12
Europe/SSA/Russia	7		—		—		4		11
Latin America	3		—		—		—		3
Subtotal	32		1		1		9		43
Land Drilling Rigs	1		—		—		—		1
Corporate and Research and Development	—		—		5		—		5
Total	$	33	$	1	$	6	$	9	$	49

The following table presents the restructuring liability activity for the three months ended March 31, 2015.

			Three Months Ended March 31, 2015
(Dollars in millions)	Accrued Balance at December 31, 2014		Charges		Cash Payments			Other			Accrued Balance at March 31, 2015
2015 Plan:
Severance liability	$	53	$	40	$	(58	)	$	(2	)	$	33
Other restructuring liability	—		1		—			—			1
2014 Plan:
Severance liability	14		—		(6		)	(2		)	6
Other restructuring liability	12		—		(1		)	(2		)	9
Total severance and other restructuring liability	$	79	$	41	$	(65	)	$	(6	)	$	49

XML

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net Loss	$ (107)	$ (32)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation and Amortization	316	351
Employee Share-Based Compensation Expense	15	15
Deferred Income Tax Provision (Benefit)	(36)	44
Devaluation of Venezuelan Bolivar	26	0
Other, Net	78	27
Change in Operating Assets and Liabilities, Net of Effect of Businesses Acquired:
Accounts Receivable	320	(167)
Inventories	(32)	(65)
Other Current Assets	(63)	(7)
Accounts Payable	(251)	(52)
Billings in Excess of Costs and Estimated Earnings	1	(53)
Other Current Liabilities	(238)	(375)
Other, Net	(71)	(92)
Net Cash Used in Operating Activities	(42)	(406)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(224)	(286)
Acquisition of Intellectual Property	0	(2)
Proceeds from Sale of Assets and Businesses, Net	3	14
Net Cash Used in Investing Activities	(221)	(274)
Cash Flows From Financing Activities:
Repayments of Long-term Debt, Net	(154)	(17)
Borrowings of Short-term Debt, Net	479	625
Other Financing Activities, Net	(18)	(3)
Net Cash Provided by Financing Activities	307	605
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6)	7
Net Increase in Cash and Cash Equivalents	38	(68)
Cash and Cash Equivalents at Beginning of Period	474	435
Cash and Cash Equivalents at End of Period	512	367
Supplemental Cash Flow Information:
Interest Paid	171	179
Income Taxes Paid, Net of Refunds	$ 88	$ 103

XML

Percentage of Completion Contracts

3 Months Ended

Mar. 31, 2015

Contractors [Abstract]

Percentage of Completion Contracts

Percentage of Completion Contracts

In the three months ended March 31, 2015, we recognized estimated project income of $42 million related to our long-term early production facility construction contract in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these loss projects were $337 million at March 31, 2015.

As of March 31, 2015, our percentage-of-completion project estimates include $137 million of claims revenue and $26 million of back charges. We have a variety of unapproved contract change orders or claims that are not included in our revenues as of March 31, 2015. The amounts associated with these contract change orders or claims are included in revenue only when they can be estimated reliably and their realization is reasonably assured. During the three months ended March 31, 2015, an additional $53 million of claims revenue was included in our project estimates of which $6 million were approved. Our costs in excess of billings as of March 31, 2015 were $207 million and are included in the “Other Current Assets” line on the balance sheet.

In the three months ended March 31, 2014, we recognized estimated project losses of $26 million related to our long-term early production facility construction contracts in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these projects were $333 million at March 31, 2014. As of March 31, 2014, our percentage-of-completion project estimates include $64 million of claims revenue. Claims revenue of $28 million was recognized during the three months ended March 31, 2014.

XML

Inventories, Net

3 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, Net

Inventories, net of reserves, by category were as follows:

(Dollars in millions)	March 31, 2015		December 31, 2014
Raw materials, components and supplies	$	170	$	194
Work in process	117		135
Finished goods	2,765		2,758
	$	3,052	$	3,087

XML

Business Combinations and Divestitures

3 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

Business Combinations

Business Combinations

Acquisitions & Divestitures

From time to time, we acquire assets and businesses we believe are important to our long-term strategy or dispose of assets and businesses that are no longer a strategic fit within our business. We did not complete any acquisitions or divestitures during the quarters ended March 31, 2015 and March 31, 2014.

In May 2012, we acquired a company that designs and produces well completion tools. Our purchase consideration included a contingent consideration arrangement valued at approximately $3 million at December 31, 2014. At March 31, 2015, the contingent consideration arrangement was valued at approximately $12 million. The arrangement will be settled in 2016.

XML

Restructuring Charges (Restructuring Liability) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Restructuring Reserve [Roll Forward]
Restructuring Charges	$ 41	$ 70
Severance and Other Restructuring Liabilities [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	79
Restructuring Charges	41
Cash Payments	(65)
Other	(6)
Accrued balance at end of period	49
Severance and Other Restructuring Liabilities [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	5
Severance and Other Restructuring Liabilities [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	17
Severance and Other Restructuring Liabilities [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	12
Severance and Other Restructuring Liabilities [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	11
Severance and Other Restructuring Liabilities [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	3
Severance and Other Restructuring Liabilities [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	43
Severance and Other Restructuring Liabilities [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	1
2015 Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	41
2015 Plan [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	3
2015 Plan [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	8
2015 Plan [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	6
2015 Plan [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	7
2015 Plan [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	12
2015 Plan [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	33
2015 Plan [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	5
2015 Plan [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	33
2015 Plan [Member] | Employee Severance [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	0
2015 Plan [Member] | Employee Severance [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	16
2015 Plan [Member] | Employee Severance [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	6
2015 Plan [Member] | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	7
2015 Plan [Member] | Employee Severance [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	3
2015 Plan [Member] | Employee Severance [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	32
2015 Plan [Member] | Employee Severance [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at end of period	1
2015 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	53
Restructuring Charges	40
Cash Payments	(58)
Other	(2)
Accrued balance at end of period	33
2015 Plan [Member] | One-time Termination Benefits [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	3
2015 Plan [Member] | One-time Termination Benefits [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	8
2015 Plan [Member] | One-time Termination Benefits [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	5
2015 Plan [Member] | One-time Termination Benefits [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	7
2015 Plan [Member] | One-time Termination Benefits [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	12
2015 Plan [Member] | One-time Termination Benefits [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	32
2015 Plan [Member] | One-time Termination Benefits [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	5
2015 Plan [Member] | Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	0
Restructuring Charges	1
Cash Payments	0
Other	0
Accrued balance at end of period	1
2015 Plan [Member] | Other Restructuring [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	0
Accrued balance at end of period	0
2015 Plan [Member] | Other Restructuring [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	0
Accrued balance at end of period	0
2015 Plan [Member] | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	1
Accrued balance at end of period	1
2015 Plan [Member] | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	0
Accrued balance at end of period	0
2015 Plan [Member] | Other Restructuring [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	0
Accrued balance at end of period	0
2015 Plan [Member] | Other Restructuring [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	1
Accrued balance at end of period	1
2015 Plan [Member] | Other Restructuring [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	0
Accrued balance at end of period	0
2014 Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		70
2014 Plan [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		16
2014 Plan [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		9
2014 Plan [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		4
2014 Plan [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		19
2014 Plan [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		19
2014 Plan [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		51
2014 Plan [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		3
2014 Plan [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		66
Accrued balance at end of period	6
2014 Plan [Member] | Employee Severance [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		16
Accrued balance at end of period	5
2014 Plan [Member] | Employee Severance [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		9
Accrued balance at end of period	0
2014 Plan [Member] | Employee Severance [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		4
Accrued balance at end of period	1
2014 Plan [Member] | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		15
Accrued balance at end of period	0
2014 Plan [Member] | Employee Severance [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		19
Accrued balance at end of period	0
2014 Plan [Member] | Employee Severance [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		47
Accrued balance at end of period	1
2014 Plan [Member] | Employee Severance [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		3
Accrued balance at end of period	0
2014 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	14
Restructuring Charges	0
Cash Payments	(6)
Other	(2)
Accrued balance at end of period	6
2014 Plan [Member] | Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	12
Restructuring Charges	0	4
Cash Payments	(1)
Other	(2)
Accrued balance at end of period	9
2014 Plan [Member] | Other Restructuring [Member] | Corporate and Research and Development [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		0
Accrued balance at end of period	0
2014 Plan [Member] | Other Restructuring [Member] | North America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		0
Accrued balance at end of period	1
2014 Plan [Member] | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		0
Accrued balance at end of period	4
2014 Plan [Member] | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		4
Accrued balance at end of period	4
2014 Plan [Member] | Other Restructuring [Member] | Latin America [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		0
Accrued balance at end of period	0
2014 Plan [Member] | Other Restructuring [Member] | Core Regional Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		4
Accrued balance at end of period	9
2014 Plan [Member] | Other Restructuring [Member] | Drilling Rigs [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges		0
Accrued balance at end of period	$ 0

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Short-term Borrowings and Current Portion of Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Components of Short-Term Borrowings

(Dollars in millions)	March 31, 2015		December 31, 2014
Commercial paper program	$	130	$	245
Revolving credit facility	625		—
364-day term loan facility	175		175
Other short-term bank loans	228		257
Total short-term borrowings	1,158		677
Current portion of long-term debt	396		50
Short-term borrowings and current portion of long-term debt	$	1,554	$	727

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Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

The following discloses basic and diluted weighted average shares outstanding:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Basic and diluted weighted average shares outstanding	778	776

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table discloses the number of anti-dilutive shares excluded:

	Three Months Ended March 31,
(Shares in millions)	2015	2014
Anti-dilutive potential shares due to net loss	2	5

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General Devaluation of Venezuelan Bolivar (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Devaluation of Venezuelan Bolivar	$ 26	$ 0
VENEZUELA
Net Monetary Asset Position	$ 11

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Earnings per Share (Antidilutive Shares) (Details) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Anti-dilutive potential shares due to net loss	2	5

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Income Taxes (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2016
Tax provision	$ 0	$ 27
Income (Loss) Before Income Taxes	(107)	(5)
Restructuring Charges	41	70
Devaluation of Venezuelan Bolivar	(26)	0
Discrete income before tax		116
Scenario, Forecast [Member]
Uncertain tax positions, estimated for next twelve months			$ (14)

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Short-term Borrowings and Current Portion of Long-term Debt (Narrative) (Details) (USD $)	0 Months Ended		3 Months Ended
	Apr. 10, 2014	May 02, 2013	Mar. 31, 2015	Apr. 09, 2015
Short-term Debt [Line Items]
Credit agreement, maximum capacity			$ 1,500,000,000
Performance bonds			278,000,000
Revolving credit facility [Member]
Short-term Debt [Line Items]
Credit agreement, maximum capacity			2,250,000,000
Commercial paper program and letters of credit [Member]
Short-term Debt [Line Items]
Credit agreement, maximum capacity			2,250,000,000
Committed letters of credit [Member]
Short-term Debt [Line Items]
Letters of credit outstanding, amount			28,000,000
364-day term loan facility [Member]
Short-term Debt [Line Items]
Credit agreement, maximum capacity	400,000,000
Letters of credit outstanding, amount			175,000,000
Debt instrument, term	364 days	364 days
Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Short term borrowings			228,000,000
Uncommitted letters of credit [Member]
Short-term Debt [Line Items]
Letters of credit outstanding, amount			573,000,000
Maximum [Member] | Revolving credit facility [Member]
Short-term Debt [Line Items]
Ratio of indebtedness to net capital percent required			0.6
Bi-Lateral Revolver Debt [Member] | Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Short term borrowings			180,000,000
London Interbank Offered Rate (LIBOR) [Member] | Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Interest rate at period end			1.57%
Extinguishment of Debt Senior Notes [Member] | Senior Notes, 5.50% due 2016 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.50%
Extinguishment of Debt Senior Notes [Member] | Senior Notes, 4.50% due 2022 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.50%
Extinguishment of Debt Senior Notes [Member] | Senior Notes, 5.95 Percent due 2012 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.95%
Extinguishment of Debt Senior Notes [Member] | Senior Notes, 6.50% due 2036 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.50%
Extinguishment of Debt Senior Notes [Member] | Senior Notes, 6.75% due 2040 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.75%
364-day term loan facility [Member] | Subsequent Event [Member] | 364-day term loan facility [Member]
Short-term Debt [Line Items]
Letters of credit outstanding, amount				175,000,000
Extinguishment of Debt Senior Notes [Member] | Extinguishment of Debt Senior Notes [Member]
Short-term Debt [Line Items]
Long-term Debt			160,000,000
Gain (Loss) on Repurchase of Debt Instrument			$ 12,000,000

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Loss	$ (107)	$ (32)
Other Comprehensive Loss, Net of Tax:
Currency Translation Adjustments	(345)	(202)
Defined Benefit Pension Activity	22	0
Other Comprehensive Loss	(323)	(202)
Comprehensive Loss	(430)	(234)
Comprehensive Income Attributable to Noncontrolling Interests	(11)	(9)
Comprehensive Loss Attributable to Weatherford	$ (441)	$ (243)

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Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Financial Instruments Measured and Recognized at Fair Value

We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Other than the derivative instruments discussed in “Note 9 – Derivative Instruments,” we had no other material assets or liabilities measured and recognized at fair value on a recurring basis at March 31, 2015 and December 31, 2014.

Fair Value of Other Financial Instruments

Our other financial instruments include short-term borrowings and long-term debt. The carrying value of our commercial paper and other short-term borrowings approximates their fair value due to the short-term duration of the associated interest rate periods. These short-term borrowings are classified as Level 2 in the fair value hierarchy.

The fair value of our long-term debt fluctuates with changes in applicable interest rates among other factors. Fair value will exceed carrying value when the current market interest rate is lower than the interest rate at which the debt was originally issued. The fair value of our long-term debt is classified as Level 2 in the fair value hierarchy and is a measure of its current value under present market conditions and is established based on observable inputs in less active markets. 

The fair value and carrying value of our senior notes were as follows: 

(Dollars in millions)	March 31, 2015		December 31, 2014
Fair value	$	6,592	$	6,733
Carrying value	6,498		6,660

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) In Millions, except Share data, unless otherwise specified	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CHF	Jun. 30, 2014
Current Assets:
Allowance for Uncollectible Accounts	$ 111	$ 108
Noncurrent Assets:
Accumulated Depreciation of Property, Plant and Equipment	6,976	6,895
Accumulated Amortization of Other Intangible Assets	$ 746	$ 744
Shareholders’ Equity:
Common Shares, Par Value (in USD and CHF per share, respectively)	$ 0.001		0.001
Common Shares, Authorized (in shares)	1,356,000,000	1,356,000,000	1,356,000,000
Common Shares, Conditionally Authorized (in shares)		0	0
Common Shares, Issued (in shares)	774,000,000	774,000,000	774,000,000
Common Stock, Outstanding (in shares)	774,000,000	774,000,000	774,000,000	774,000,000
Treasury Shares, at cost (in shares)	0	0	0

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Segment Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Segment Reporting Information [Line Items]
Net Operating Revenues	$ 2,794		$ 3,596
Income from Operations	50		130
Depreciation and Amortization	316		351
Research and Development Expense	(64)		(69)
Restructuring Charges	(41)		(70)
Gain on Sale of Businesses	3		0
Assets	18,223				18,889
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	2,794		3,596
Income from Operations	229		342
Depreciation and Amortization	310		345
Assets	17,856				18,543
Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	1,163		1,610
Income from Operations	(10)		196
Depreciation and Amortization	105		107
Assets	6,675				7,297
Operating Segments [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	533		619
Income from Operations	60		5
Depreciation and Amortization	65		72
Assets	3,006				3,022
Operating Segments [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	417		516
Income from Operations	71		78
Depreciation and Amortization	50		54
Assets	3,132				3,106
Operating Segments [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	486		509
Income from Operations	98		90
Depreciation and Amortization	61		58
Assets	3,163				3,211
Operating Segments [Member] | Core Regional Segments [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	2,599		3,254
Income from Operations	219		369
Depreciation and Amortization	281		291
Assets	15,976				16,636
Operating Segments [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Net Operating Revenues	195		342
Income from Operations	10		(27)
Depreciation and Amortization	29		54
Assets	1,880				1,907
Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	6		6
Research and Development Expense	(120)
Assets	367				346
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Research and Development Expense			(116)
Restructuring Charges	(41)	[1]	70	[2]
Gain on Sale of Businesses	3
Other Items	$ (21)	[3]	$ (26)	[4]

[1] For the three months ended March 31, 2015, we recognized restructuring charges of $41 million: $8 million in North America, $6 million in MENA/Asia Pacific, $7 million in Europe/SSA/Russia, $12 million in Latin America, $5 million in Land Drilling Rigs and $3 million in Corporate and Research and Development.

[2] For the three months ended March 31, 2014, we recognized restructuring charges of $70 million: $9 million in North America, $4 million in MENA/Asia Pacific, $19 million in Europe/SSA/Russia, $19 million in Latin America, $3 million in Land Drilling Rigs and $16 million in Corporate and Research and Development.

[3] The three months ended March 31, 2015 includes professional fees of $13 million related to the divestiture of our non-core businesses, restatement related litigation, post-settlement monitor and auditor expenses and other charges of $8 million.

[4] The three months ended March 31, 2014 includes professional fees of $23 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations and redomestication and other charges of $3 million.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Products	$ 1,040	$ 1,446
Services	1,754	2,150
Total Revenues	2,794	3,596
Costs and Expenses:
Cost of Products	903	1,064
Cost of Services	1,299	1,775
Research and Development	64	69
Selling, General and Administrative Attributable to Segments	363	414
Corporate General and Administrative	77	74
Restructuring Charges	41	70
Gain on Sale of Businesses	3	0
Total Costs and Expenses	2,744	3,466
Operating Income (Loss)	50	130
Other Income (Expense):
Interest Expense, Net	(120)	(126)
Devaluation of Venezuelan Bolivar	(26)	0
Other, Net	(11)	(9)
Loss Before Income Taxes	(107)	(5)
Provision for Income Taxes	0	(27)
Net Loss	(107)	(32)
Net Income Attributable to Noncontrolling Interests	(11)	(9)
Net Income (Loss) Attributable to Weatherford	$ (118)	$ (41)
Loss Per Share Attributable to Weatherford:
Basic (in dollars per share)	$ (0.15)	$ (0.05)
Weighted Average Shares Outstanding:
Basic (in shares)	778	776

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Shareholders' Equity (Shareholders' Equity Activity) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	$ 7,033	$ 8,203
Net Income (Loss)	(107)	(32)
Other Comprehensive Loss	(323)	(202)
Dividends Paid to Noncontrolling Interests	(18)	(6)
Equity Awards Granted, Vested and Exercised	12	8
Other	1
Balance, ending balance	6,598	7,971
Par Value of Issued Shares [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	1		775
Equity Awards Granted, Vested and Exercised	0
Balance, ending balance	1	777	775
Capital in Excess of Par Value [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	5,411	4,600
Equity Awards Granted, Vested and Exercised	12	3
Other	0
Balance, ending balance	5,423	4,603
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	2,427	3,011
Net Income (Loss)	(118)	(41)
Balance, ending balance	2,309	2,970
Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	(881)	(187)
Other Comprehensive Loss	(323)	(202)
Balance, ending balance	(1,204)	(389)
Treasury Shares [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	0	(37)
Equity Awards Granted, Vested and Exercised	0	3
Balance, ending balance	0	(34)
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	75	41
Net Income (Loss)	11	9
Dividends Paid to Noncontrolling Interests	(18)	(6)
Other	1
Balance, ending balance	$ 69	$ 44

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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value and Carrying Value of Long-Term Debt

The fair value and carrying value of our senior notes were as follows: 

(Dollars in millions)	March 31, 2015		December 31, 2014
Fair value	$	6,592	$	6,733
Carrying value	6,498		6,660

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Condensed Consolidating Financial Statements

3 Months Ended

Mar. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Statements

Condensed Consolidating Financial Statements

Weatherford International plc (“Weatherford Ireland”), a public limited company organized under the laws of Ireland, a Swiss tax resident, and the ultimate parent of the Weatherford group, guarantees the obligations of our subsidiaries – Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”), and Weatherford International, LLC, a Delaware limited liability company (“Weatherford Delaware”), including the notes and credit facilities listed below.

The following obligations of Weatherford Delaware were guaranteed by Weatherford Bermuda at March 31, 2015 and December 31, 2014: (1) 6.35% senior notes and (2) 6.80% senior notes.

The following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at March 31, 2015 and December 31, 2014: (1) revolving credit facility, (2) 5.50% senior notes, (3) 6.50% senior notes, (4) 6.00% senior notes, (5) 7.00% senior notes, (6) 9.625% senior notes, (7) 9.875% senior notes, (8) 5.125% senior notes, (9) 6.75% senior notes, (10) 4.50% senior notes and (11) 5.95% senior notes. In 2014, we refinanced the 364-day term loan facility with a new 364-day term loan facility, which was an obligation of Weatherford Bermuda guaranteed by Weatherford Delaware as of March 31, 2015.

As a result of certain of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The accompanying guarantor financial information is presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for our share in the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries relate primarily to the elimination of investments in subsidiaries and associated intercompany balances and transactions.

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations		Consolidation
Revenues	$	—		$	—		$	—		$	2,794		$	—	$	2,794
Costs and Expenses	(7		)	—			—			(2,737		)	—		(2,744		)
Operating Income (Loss)	(7		)	—			—			57			—		50
Other Income (Expense):
Interest Expense, Net	—			(104		)	(13		)	(3		)	—		(120		)
Intercompany Charges, Net	—			(15		)	—			15			—		—
Equity in Subsidiary Income	(111		)	75			(25		)	—			61		—
Other, Net	—			(20		)	—			(17		)	—		(37		)
Income (Loss) Before Income Taxes	(118		)	(64		)	(38		)	52			61		(107		)
(Provision) Benefit for Income Taxes	—			—			5			(5		)	—		—
Net Income (Loss)	(118		)	(64		)	(33		)	47			61		(107		)
Noncontrolling Interests	—			—			—			(11		)	—		(11		)
Net Income (Loss) Attributable to Weatherford	$	(118	)	$	(64	)	$	(33	)	$	36		$	61	$	(118	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(441	)	$	(156	)	$	(69	)	$	(286	)	$	511	$	(441	)

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	—		$	—		$	3,596		$	—		$	3,596
Costs and Expenses	(19		)	—			(1		)	(3,446		)	—			(3,466		)
Operating Income (Loss)	(19		)	—			(1		)	150			—			130
Other Income (Expense):
Interest Expense, Net	—			(105		)	(15		)	(6		)	—			(126		)
Intercompany Charges, Net	—			7,348			—			(7,348		)	—			—
Equity in Subsidiary Income	(21		)	80			11			—			(70		)	—
Other, Net	(1		)	(4		)	—			(4		)	—			(9		)
Income (Loss) Before Income Taxes	(41		)	7,319			(5		)	(7,208		)	(70		)	(5		)
(Provision) Benefit for Income Taxes	—			—			6			(33		)	—			(27		)
Net Income (Loss)	(41		)	7,319			1			(7,241		)	(70		)	(32		)
Noncontrolling Interests	—			—			—			(9		)	—			(9		)
Net Income (Loss) Attributable to Weatherford	$	(41	)	$	7,319		$	1		$	(7,250	)	$	(70	)	$	(41	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(243	)	$	7,169		$	(135	)	$	(7,453	)	$	419		$	(243	)

Condensed Consolidating Balance Sheet

March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	—	$	34		$	22	$	456	$	—		$	512
Other Current Assets	4		—			532		7,138		(594		)	7,080
Total Current Assets	4		34			554		7,594		(594		)	7,592
Equity Investments in Affiliates	8,242		10,613			9,707		3,926		(32,488		)	—
Intercompany Receivables, Net	—		—			—		10,116		(10,116		)	—
Other Assets	4		33			20		10,574		—			10,631
Total Assets	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	1,466		$	6	$	82	$	—		$	1,554
Accounts Payable and Other Current Liabilities	42		185			—		3,206		(594		)	2,839
Total Current Liabilities	42		1,651			6		3,288		(594		)	4,393
Long-term Debt	—		5,239			910		129		—			6,278
Intercompany Payables, Net	1,668		5,836			2,612		—		(10,116		)	—
Other Long-term Liabilities	11		77			5		861		—			954
Total Liabilities	1,721		12,803			3,533		4,278		(10,710		)	11,625
Weatherford Shareholders’ Equity	6,529		(2,123		)	6,748		27,863		(32,488		)	6,529
Noncontrolling Interests	—		—			—		69		—			69
Total Liabilities and Shareholders’ Equity	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223

Condensed Consolidating Balance Sheet

December 31, 2014

(Dollars in millions)	Weatherford Switzerland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	1	$	—		$	22	$	451	$	—		$	474
Other Current Assets	4		12			544		7,524		(614		)	7,470
Total Current Assets	5		12			566		7,975		(614		)	7,944
Equity Investments in Affiliates	8,662		10,490			9,730		3,974		(32,856		)	—
Equity Held in Parent	—		—			—		—		—			—
Intercompany Receivables, Net	—		—			—		10,490		(10,490		)	—
Other Assets	5		35			16		10,889		—			10,945
Total Assets	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	618		$	6	$	103	$	—		$	727
Accounts Payable and Other Current Liabilities	43		256			—		3,615		(614		)	3,300
Total Current Liabilities	43		874			6		3,718		(614		)	4,027
Long-term Debt	—		5,749			911		137		1			6,798
Intercompany Payables, Net	1,666		6,202			2,622		—		(10,490		)	—
Other Long-term Liabilities	5		82			5		939		—			1,031
Total Liabilities	1,714		12,907			3,544		4,794		(11,103		)	11,856
Weatherford Shareholders’ Equity	6,958		(2,370		)	6,768		28,459		(32,857		)	6,958
Noncontrolling Interests	—		—			—		75		—			75
Total Liabilities and Shareholders’ Equity	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(118	)	$	(64	)	$	(33	)	$	47		$	61		$	(107	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			15			—			(15		)	—			—
Equity in (Earnings) Loss of Affiliates	111			(75		)	25			—			(61		)	—
Deferred Income Tax Provision (Benefit)	—			—			(5		)	(31		)	—			(36		)
Other Adjustments	(6		)	136			27			(56		)	—			101
Net Cash Provided (Used) by Operating Activities	(13		)	12			14			(55		)	—			(42		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(224		)	—			(224		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			3			—			3
Net Cash Provided (Used) by Investing Activities	—			—			—			(221		)	—			(221		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			498			—			(19		)	—			479
Borrowings (Repayments) Long-term Debt, Net	—			(147		)	(1		)	(6		)	—			(154		)
Borrowings (Repayments) Between Subsidiaries, Net	12			(329		)	(13		)	330			—			—
Other, Net	—			—			—			(18		)	—			(18		)
Net Cash Provided (Used) by Financing Activities	12			22			(14		)	287			—			307
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			(6		)	—			(6		)
Net Increase in Cash and Cash Equivalents	(1		)	34			—			5			—			38
Cash and Cash Equivalents at Beginning of Period	1			—			22			451			—			474
Cash and Cash Equivalents at End of Period	$	—		$	34		$	22		$	456		$	—		$	512

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(41	)	$	7,319		$	1		$	(7,241	)	$	(70	)	$	(32	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			(7,348		)	—			7,348			—			—
Equity in (Earnings) Loss of Affiliates	21			(80		)	(11		)	—			70			—
Deferred Income Tax Provision (Benefit)	—			—			—			44			—			44
Other Adjustments	45			(322		)	(2		)	(139		)	—			(418		)
Net Cash Provided (Used) by Operating Activities	25			(431		)	(12		)	12			—			(406		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(286		)	—			(286		)
Acquisition of Intellectual Property	—			—			—			(2		)	—			(2		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			14			—			14
Capital Contribution to Subsidiary	—			—			—			—			—			—
Net Cash Provided (Used) by Investing Activities	—			—			—			(274		)	—			(274		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			635			—			(10		)	—			625
Borrowings (Repayments) Long-term Debt, Net	—			—			(3		)	(14		)	—			(17		)
Borrowings (Repayments) Between Subsidiaries, Net	(19		)	(204		)	(7		)	230			—			—
Other, Net	(2		)	—			22			(23		)	—			(3		)
Net Cash Provided (Used) by Financing Activities	(21		)	431			12			183			—			605
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			7			—			7
Net Increase in Cash and Cash Equivalents	4			—			—			(72		)	—			(68		)
Cash and Cash Equivalents at Beginning of Period	—			—			—			435			—			435
Cash and Cash Equivalents at End of Period	$	4		$	—		$	—		$	363		$	—		$	367

XML

Short-term Borrowings and Current Portion of Long-term Debt (Schedule of Short-term Debt) (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended
	Apr. 10, 2014	May 02, 2013	Mar. 31, 2015	Dec. 31, 2014
Short-term Debt [Line Items]
Total short-term borrowings			$ 1,158	$ 677
Current portion of long-term debt			396	50
Short-term borrowings and current portion of long-term debt			1,554	727
Performance bonds			278
Commercial paper program [Member]
Short-term Debt [Line Items]
Total short-term borrowings			130	245
Revolving credit facility [Member]
Short-term Debt [Line Items]
Total short-term borrowings			625	0
364-day term loan facility [Member]
Short-term Debt [Line Items]
Total short-term borrowings				175
Letters of credit outstanding, amount			175
Debt instrument, term	364 days	364 days
Other short-term bank loans [Member]
Short-term Debt [Line Items]
Total short-term borrowings			$ 228	$ 257

XML

Earnings per Share (Weighted Average Shares Outstanding) (Details) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Basic and diluted weighted average shares outstanding	778	776

XML

Restructuring Charges (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 41	$ 70
2015 Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	41
2015 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	40
2015 Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	1
2014 Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		70
2014 Plan [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	0
2014 Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	0	4
2014 Plan [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges		$ 66

XML

Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations		Consolidation
Revenues	$	—		$	—		$	—		$	2,794		$	—	$	2,794
Costs and Expenses	(7		)	—			—			(2,737		)	—		(2,744		)
Operating Income (Loss)	(7		)	—			—			57			—		50
Other Income (Expense):
Interest Expense, Net	—			(104		)	(13		)	(3		)	—		(120		)
Intercompany Charges, Net	—			(15		)	—			15			—		—
Equity in Subsidiary Income	(111		)	75			(25		)	—			61		—
Other, Net	—			(20		)	—			(17		)	—		(37		)
Income (Loss) Before Income Taxes	(118		)	(64		)	(38		)	52			61		(107		)
(Provision) Benefit for Income Taxes	—			—			5			(5		)	—		—
Net Income (Loss)	(118		)	(64		)	(33		)	47			61		(107		)
Noncontrolling Interests	—			—			—			(11		)	—		(11		)
Net Income (Loss) Attributable to Weatherford	$	(118	)	$	(64	)	$	(33	)	$	36		$	61	$	(118	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(441	)	$	(156	)	$	(69	)	$	(286	)	$	511	$	(441	)

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	—		$	—		$	3,596		$	—		$	3,596
Costs and Expenses	(19		)	—			(1		)	(3,446		)	—			(3,466		)
Operating Income (Loss)	(19		)	—			(1		)	150			—			130
Other Income (Expense):
Interest Expense, Net	—			(105		)	(15		)	(6		)	—			(126		)
Intercompany Charges, Net	—			7,348			—			(7,348		)	—			—
Equity in Subsidiary Income	(21		)	80			11			—			(70		)	—
Other, Net	(1		)	(4		)	—			(4		)	—			(9		)
Income (Loss) Before Income Taxes	(41		)	7,319			(5		)	(7,208		)	(70		)	(5		)
(Provision) Benefit for Income Taxes	—			—			6			(33		)	—			(27		)
Net Income (Loss)	(41		)	7,319			1			(7,241		)	(70		)	(32		)
Noncontrolling Interests	—			—			—			(9		)	—			(9		)
Net Income (Loss) Attributable to Weatherford	$	(41	)	$	7,319		$	1		$	(7,250	)	$	(70	)	$	(41	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(243	)	$	7,169		$	(135	)	$	(7,453	)	$	419		$	(243	)

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	—	$	34		$	22	$	456	$	—		$	512
Other Current Assets	4		—			532		7,138		(594		)	7,080
Total Current Assets	4		34			554		7,594		(594		)	7,592
Equity Investments in Affiliates	8,242		10,613			9,707		3,926		(32,488		)	—
Intercompany Receivables, Net	—		—			—		10,116		(10,116		)	—
Other Assets	4		33			20		10,574		—			10,631
Total Assets	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	1,466		$	6	$	82	$	—		$	1,554
Accounts Payable and Other Current Liabilities	42		185			—		3,206		(594		)	2,839
Total Current Liabilities	42		1,651			6		3,288		(594		)	4,393
Long-term Debt	—		5,239			910		129		—			6,278
Intercompany Payables, Net	1,668		5,836			2,612		—		(10,116		)	—
Other Long-term Liabilities	11		77			5		861		—			954
Total Liabilities	1,721		12,803			3,533		4,278		(10,710		)	11,625
Weatherford Shareholders’ Equity	6,529		(2,123		)	6,748		27,863		(32,488		)	6,529
Noncontrolling Interests	—		—			—		69		—			69
Total Liabilities and Shareholders’ Equity	$	8,250	$	10,680		$	10,281	$	32,210	$	(43,198	)	$	18,223

Condensed Consolidating Balance Sheet

December 31, 2014

(Dollars in millions)	Weatherford Switzerland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	1	$	—		$	22	$	451	$	—		$	474
Other Current Assets	4		12			544		7,524		(614		)	7,470
Total Current Assets	5		12			566		7,975		(614		)	7,944
Equity Investments in Affiliates	8,662		10,490			9,730		3,974		(32,856		)	—
Equity Held in Parent	—		—			—		—		—			—
Intercompany Receivables, Net	—		—			—		10,490		(10,490		)	—
Other Assets	5		35			16		10,889		—			10,945
Total Assets	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889
Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	618		$	6	$	103	$	—		$	727
Accounts Payable and Other Current Liabilities	43		256			—		3,615		(614		)	3,300
Total Current Liabilities	43		874			6		3,718		(614		)	4,027
Long-term Debt	—		5,749			911		137		1			6,798
Intercompany Payables, Net	1,666		6,202			2,622		—		(10,490		)	—
Other Long-term Liabilities	5		82			5		939		—			1,031
Total Liabilities	1,714		12,907			3,544		4,794		(11,103		)	11,856
Weatherford Shareholders’ Equity	6,958		(2,370		)	6,768		28,459		(32,857		)	6,958
Noncontrolling Interests	—		—			—		75		—			75
Total Liabilities and Shareholders’ Equity	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2015

(Unaudited)

(Dollars in millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(118	)	$	(64	)	$	(33	)	$	47		$	61		$	(107	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			15			—			(15		)	—			—
Equity in (Earnings) Loss of Affiliates	111			(75		)	25			—			(61		)	—
Deferred Income Tax Provision (Benefit)	—			—			(5		)	(31		)	—			(36		)
Other Adjustments	(6		)	136			27			(56		)	—			101
Net Cash Provided (Used) by Operating Activities	(13		)	12			14			(55		)	—			(42		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(224		)	—			(224		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			3			—			3
Net Cash Provided (Used) by Investing Activities	—			—			—			(221		)	—			(221		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			498			—			(19		)	—			479
Borrowings (Repayments) Long-term Debt, Net	—			(147		)	(1		)	(6		)	—			(154		)
Borrowings (Repayments) Between Subsidiaries, Net	12			(329		)	(13		)	330			—			—
Other, Net	—			—			—			(18		)	—			(18		)
Net Cash Provided (Used) by Financing Activities	12			22			(14		)	287			—			307
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			(6		)	—			(6		)
Net Increase in Cash and Cash Equivalents	(1		)	34			—			5			—			38
Cash and Cash Equivalents at Beginning of Period	1			—			22			451			—			474
Cash and Cash Equivalents at End of Period	$	—		$	34		$	22		$	456		$	—		$	512

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(Unaudited) 

(Dollars in millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(41	)	$	7,319		$	1		$	(7,241	)	$	(70	)	$	(32	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	—			(7,348		)	—			7,348			—			—
Equity in (Earnings) Loss of Affiliates	21			(80		)	(11		)	—			70			—
Deferred Income Tax Provision (Benefit)	—			—			—			44			—			44
Other Adjustments	45			(322		)	(2		)	(139		)	—			(418		)
Net Cash Provided (Used) by Operating Activities	25			(431		)	(12		)	12			—			(406		)
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(286		)	—			(286		)
Acquisition of Intellectual Property	—			—			—			(2		)	—			(2		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			14			—			14
Capital Contribution to Subsidiary	—			—			—			—			—			—
Net Cash Provided (Used) by Investing Activities	—			—			—			(274		)	—			(274		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			635			—			(10		)	—			625
Borrowings (Repayments) Long-term Debt, Net	—			—			(3		)	(14		)	—			(17		)
Borrowings (Repayments) Between Subsidiaries, Net	(19		)	(204		)	(7		)	230			—			—
Other, Net	(2		)	—			22			(23		)	—			(3		)
Net Cash Provided (Used) by Financing Activities	(21		)	431			12			183			—			605
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			7			—			7
Net Increase in Cash and Cash Equivalents	4			—			—			(72		)	—			(68		)
Cash and Cash Equivalents at Beginning of Period	—			—			—			435			—			435
Cash and Cash Equivalents at End of Period	$	4		$	—		$	—		$	363		$	—		$	367

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Percentage of Completion Contracts (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items]
Unapproved Change Orders, Amount	$ 53
ChangeOrdersApprovedbyCustomer	6
Costs in Excess of Billings, Current	207
Iraq [Member]
Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items]
Estimated loss on long term construction contract	337	333
Accounts Receivable, Unapproved Contract Claims	137	64
Deductions (Back Charges)	26
Loss on Contracts		26
Gain on Project	42
Accrued Fees and Other Revenue Receivable		$ 28

XML

Short-term Borrowings and Current Portion of Long-term Debt

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Short-term Borrowings and Current Portion of Long-term Debt

Short-term Borrowings and Current Portion of Long-term Debt

(Dollars in millions)	March 31, 2015		December 31, 2014
Commercial paper program	$	130	$	245
Revolving credit facility	625		—
364-day term loan facility	175		175
Other short-term bank loans	228		257
Total short-term borrowings	1,158		677
Current portion of long-term debt	396		50
Short-term borrowings and current portion of long-term debt	$	1,554	$	727

Revolving Credit Facility

We maintain a $2.25 billion unsecured, revolving credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, scheduled to mature July 13, 2016. The Credit Agreement can be used for a combination of borrowings, support for our $2.25 billion commercial paper program and issuances of letters of credit. This agreement requires that we maintain a debt-to-total capitalization ratio of less than 60%. We were in compliance with this covenant at March 31, 2015. At March 31, 2015, we had $1.5 billion available under the Credit Agreement and there were $28 million in outstanding letters of credit in addition to the commercial paper and borrowings under the revolving credit facility.

364-Day Term Loan Facility

As of March 31, 2015, we had a $400 million, 364-day term loan facility with a syndicate of banks that matured on April 9, 2015. As of March 31, 2015, we had borrowings of $175 million drawn on this facility. The 364-day term loan facility included the same debt-to-capitalization requirement that is contained in our Credit Agreement, with which we are in compliance. On April 9, 2015, we paid the outstanding balance of $175 million on this term loan facility.

Other Short-Term Borrowings and Other Debt Activity

We have short-term borrowings with various domestic and international institutions pursuant to uncommitted and letter of credit facilities. At March 31, 2015, we had $228 million in short-term borrowings under these arrangements, including $180 million borrowed under a credit agreement entered into in March 2014 that matures on March 20, 2016, with a Libor-based interest rate of 1.57% as of March 31, 2015. In addition, we had $573 million of letters of credit under various uncommitted facilities and $278 million of surety bonds, primarily performance bonds, issued by financial sureties against an indemnification from us at March 31, 2015.

The carrying value of our short-term borrowings approximates their fair value as of March 31, 2015. The current portion of long-term debt at March 31, 2015 is primarily related to our 5.5% senior notes maturing February 2016 and our capital leases.

In the first three months of 2015, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes, 6.5% senior notes and 6.75% senior notes with a total book value of $160 million. We recognized a cumulative gain of approximately $12 million on these transactions.

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Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Operations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Condensed Income Statements, Captions [Line Items]
Revenues	$ 2,794	$ 3,596
Costs and Expenses	(2,744)	(3,466)
Operating Income (Loss)	50	130
Other Income (Expense):
Interest Expense, Net	(120)	(126)
Intercompany Charges, Net	0	0
Equity in Subsidiary Income	0	0
Other, Net	(37)	(9)
Loss Before Income Taxes	(107)	(5)
(Provision) Benefit for Income Taxes	0	(27)
Net Loss	(107)	(32)
Net Income Attributable to Noncontrolling Interests	(11)	(9)
Net Income (Loss) Attributable to Weatherford	(118)	(41)
Comprehensive Income (Loss) Attributable to Weatherford	(441)	(243)
Weatherford Ireland [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0
Costs and Expenses	(7)
Operating Income (Loss)	(7)
Other Income (Expense):
Interest Expense, Net	0
Intercompany Charges, Net	0
Equity in Subsidiary Income	(111)
Other, Net	0
Loss Before Income Taxes	(118)
(Provision) Benefit for Income Taxes	0
Net Loss	(118)
Net Income Attributable to Noncontrolling Interests	0
Net Income (Loss) Attributable to Weatherford	(118)
Comprehensive Income (Loss) Attributable to Weatherford	(441)
Weatherford Switzerland [Member]
Condensed Income Statements, Captions [Line Items]
Revenues		0
Costs and Expenses		(19)
Operating Income (Loss)		(19)
Other Income (Expense):
Interest Expense, Net		0
Intercompany Charges, Net		0
Equity in Subsidiary Income		(21)
Other, Net		(1)
Loss Before Income Taxes		(41)
(Provision) Benefit for Income Taxes		0
Net Loss		(41)
Net Income Attributable to Noncontrolling Interests		0
Net Income (Loss) Attributable to Weatherford		(41)
Comprehensive Income (Loss) Attributable to Weatherford		(243)
Weatherford Bermuda [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Costs and Expenses	0	0
Operating Income (Loss)	0	0
Other Income (Expense):
Interest Expense, Net	(104)	(105)
Intercompany Charges, Net	(15)	7,348
Equity in Subsidiary Income	75	80
Other, Net	(20)	(4)
Loss Before Income Taxes	(64)	7,319
(Provision) Benefit for Income Taxes	0	0
Net Loss	(64)	7,319
Net Income Attributable to Noncontrolling Interests	0	0
Net Income (Loss) Attributable to Weatherford	(64)	7,319
Comprehensive Income (Loss) Attributable to Weatherford	(156)	7,169
Weatherford Delaware [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Costs and Expenses	0	(1)
Operating Income (Loss)	0	(1)
Other Income (Expense):
Interest Expense, Net	(13)	(15)
Intercompany Charges, Net	0	0
Equity in Subsidiary Income	(25)	11
Other, Net	0	0
Loss Before Income Taxes	(38)	(5)
(Provision) Benefit for Income Taxes	5	6
Net Loss	(33)	1
Net Income Attributable to Noncontrolling Interests	0	0
Net Income (Loss) Attributable to Weatherford	(33)	1
Comprehensive Income (Loss) Attributable to Weatherford	(69)	(135)
Other Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	2,794	3,596
Costs and Expenses	(2,737)	(3,446)
Operating Income (Loss)	57	150
Other Income (Expense):
Interest Expense, Net	(3)	(6)
Intercompany Charges, Net	15	(7,348)
Equity in Subsidiary Income	0	0
Other, Net	(17)	(4)
Loss Before Income Taxes	52	(7,208)
(Provision) Benefit for Income Taxes	(5)	(33)
Net Loss	47	(7,241)
Net Income Attributable to Noncontrolling Interests	(11)	(9)
Net Income (Loss) Attributable to Weatherford	36	(7,250)
Comprehensive Income (Loss) Attributable to Weatherford	(286)	(7,453)
Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Costs and Expenses	0	0
Operating Income (Loss)	0	0
Other Income (Expense):
Interest Expense, Net	0	0
Intercompany Charges, Net	0	0
Equity in Subsidiary Income	61	(70)
Other, Net	0	0
Loss Before Income Taxes	61	(70)
(Provision) Benefit for Income Taxes	0	0
Net Loss	61	(70)
Net Income Attributable to Noncontrolling Interests	0	0
Net Income (Loss) Attributable to Weatherford	61	(70)
Comprehensive Income (Loss) Attributable to Weatherford	$ 511	$ 419

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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments in Statements of Financial Performance and Financial Position

(Dollars in millions)	March 31, 2015			December 31, 2014			Classification
Derivative assets not designated as hedges:
Foreign currency forward contracts	$	5		$	12		Other Current Assets
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(19		)	(17		)	Other Current Liabilities
Cross-currency swap contracts	—			(5		)	Other Liabilities

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Condensed Consolidated Statements of Operations was as follows:

	Gain (Loss) Recognized in Income
	Three Months Ended March 31,
(Dollars In millions)	2015			2014			Classification
Derivatives designated as fair value hedges:
Interest rate swaps	$	2		$	2		Interest Expense, Net
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(66		)	(11		)	Other, Net
Cross-currency swap contracts	13			9			Other, Net

XML

Inventories, Net (Schedule of Inventory) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials, components and supplies	$ 170	$ 194
Work in process	117	135
Finished goods	2,765	2,758
Total Inventory	$ 3,052	$ 3,087

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Income Taxes

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

We estimate our annual effective tax rate based on year-to-date operating results and our forecast of operating results for the remainder of the year, by jurisdiction, and apply this rate to the year-to-date operating results. If our actual results, by jurisdiction, differ from the forecasted operating results, our effective tax rate can change affecting the tax expense for both successive interim results as well as the annual tax results. For the three months ended March 31, 2015, we had zero tax provision on a loss before income taxes of $107 million. Our results for the three months ended March 31, 2015 were impacted by discrete loss before tax items, including restructuring charges of $41 million and devaluation of Venezuela Bolivar of $26 million, all with no significant tax benefit.

We are continuously under tax examination in various jurisdictions. We cannot predict the timing or outcome regarding resolution of these tax examinations or if they will have a material impact on our financial statements. We continue to anticipate a possible reduction in the balance of uncertain tax positions by approximately $14 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

For the three months ended March 31, 2014, we had a tax provision of $27 million on a loss before income taxes of $5 million. Our results were impacted by discrete income before tax items, including restructuring charges and project losses of approximately $116 million, with no significant tax benefit.

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Goodwill

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

We perform an impairment test for goodwill and indefinite-lived intangible assets annually as of October 1, or more frequently if indicators of potential impairment exist. Due to the change in our reporting segments (See “Note 14 – Segment Information”) we now report Land Drilling Rigs as a segment. The goodwill associated with the Land Drilling Rigs reporting unit was previously impaired in 2014.

The changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2015 were as follows:

(Dollars in millions)	North America			MENA/ Asia Pacific			Europe/ SSA/ Russia			Latin America			Land Drilling Rigs		Total
Balance at December 31, 2014	$	1,896		$	195		$	623		$	297		$	—	$	3,011
Foreign currency translation adjustments	(73		)	(3		)	(25		)	(5		)	—		(106		)
Balance at March 31, 2015	$	1,823		$	192		$	598		$	292		$	—	$	2,905

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General

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

General

The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company”) are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments of a normal recurring nature which, in our opinion, are necessary to present fairly our Condensed Consolidated Balance Sheet at March 31, 2015 and December 31, 2014, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Income (Loss) and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2015 and 2014. When referring to “Weatherford” and using phrases such as “we,” “us,” and “our,” the intent is to refer to Weatherford International plc, a public limited company organized under the law of Ireland, and its subsidiaries as a whole or on a regional basis, depending on the context in which the statements are made.

Although we believe the disclosures in these financial statements are adequate, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in this Form 10-Q pursuant to U.S. Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or market of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Change in Reportable Segments

During the first quarter of 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments. We have recast prior periods to conform to the current business segment presentation. See “Note 14 – Segment Information” for additional information.

Principles of Consolidation

We consolidate all wholly-owned subsidiaries, controlled joint ventures and variable interest entities where the Company has determined it is the primary beneficiary. Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation.

Devaluation of Venezuelan Bolivar and Inflationary Impacts

A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2015, replacing the Venezuela’s Supplementary Foreign Currency Administration System auction rate (“SICAD”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. In the first quarter of 2015, we recognized remeasurement charges of $26 million and will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate. At March 31, 2015 our net monetary asset position denominated in Venezuelan bolivar was approximately $11 million.

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Shareholders' Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (881)	$ (187)
Other comprehensive loss	(325)	(202)
Reclassifications	2
Other Comprehensive Loss	(323)	(202)
Ending balance	(1,204)	(389)
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(813)	(140)
Other comprehensive loss	(345)	(202)
Reclassifications	0
Other Comprehensive Loss	(345)
Ending balance	(1,158)	(342)
Defined Benefit Pension [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(57)	(38)
Other comprehensive loss	20	0
Reclassifications	2
Other Comprehensive Loss	22
Ending balance	(35)	(38)
Deferred Loss on Derivatives [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(11)	(9)
Other comprehensive loss	0	0
Reclassifications	0
Other Comprehensive Loss	0
Ending balance	$ (11)	$ (9)

XML

Derivative Instruments (Schedule of Derivatives - Balance Sheet) (Details) (Not Designated as Hedging Instrument [Member], USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Foreign currency forward contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross	$ 5	$ 12
Foreign currency forward contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross	(19)	(17)
Cross-currency swap contracts [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross	$ 0	$ (5)

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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

We recognized the following employee share-based compensation expense during the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(Dollars in millions)	2015		2014
Share-based compensation	$	15	$	15
Related tax benefit	3		3

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Segment Information (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	$ 41		$ 70
Divestiture, professional and other fees portion	13		23
Other nonrecurring (income) expense	8		3
Assets	18,223				18,889
Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	17,856				18,543
Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Assets	6,675				7,297
Operating Segments [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Assets	3,006				3,022
Operating Segments [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Assets	3,132				3,106
Operating Segments [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Assets	3,163				3,211
Operating Segments [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Assets	1,880				1,907
Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Assets	367				346
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	41	[1]	(70)	[2]
UNITED STATES [Member] | Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Assets	5,700				6,100
North America, Excluding the United States [Member] | Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Assets	1,000				1,200
2015 Plan [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	41
2015 Plan [Member] | North America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	8
2015 Plan [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	6
2015 Plan [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	7
2015 Plan [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	12
2015 Plan [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	5
2015 Plan [Member] | Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	8
2015 Plan [Member] | Operating Segments [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	6
2015 Plan [Member] | Operating Segments [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	7
2015 Plan [Member] | Operating Segments [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	12
2015 Plan [Member] | Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges	3
2014 Plan [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			70
2014 Plan [Member] | North America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			9
2014 Plan [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			4
2014 Plan [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			19
2014 Plan [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			19
2014 Plan [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			3
2014 Plan [Member] | Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			9
2014 Plan [Member] | Operating Segments [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			4
2014 Plan [Member] | Operating Segments [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			19
2014 Plan [Member] | Operating Segments [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			19
2014 Plan [Member] | Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			16
2014 Plan [Member] | Employee Severance [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			66
2014 Plan [Member] | Employee Severance [Member] | North America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			9
2014 Plan [Member] | Employee Severance [Member] | MENA/ Asia Pacific [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			4
2014 Plan [Member] | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			15
2014 Plan [Member] | Employee Severance [Member] | Latin America [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			19
2014 Plan [Member] | Employee Severance [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			3
2014 Plan [Member] | Employee Severance [Member] | Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Severance, asset impairment and other restructuring charges			$ 16

[1] For the three months ended March 31, 2015, we recognized restructuring charges of $41 million: $8 million in North America, $6 million in MENA/Asia Pacific, $7 million in Europe/SSA/Russia, $12 million in Latin America, $5 million in Land Drilling Rigs and $3 million in Corporate and Research and Development.

[2] For the three months ended March 31, 2014, we recognized restructuring charges of $70 million: $9 million in North America, $4 million in MENA/Asia Pacific, $19 million in Europe/SSA/Russia, $19 million in Latin America, $3 million in Land Drilling Rigs and $16 million in Corporate and Research and Development.

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Share-Based Compensation

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

Share-Based Compensation

We recognized the following employee share-based compensation expense during the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(Dollars in millions)	2015		2014
Share-based compensation	$	15	$	15
Related tax benefit	3		3

During the three months ended March 31, 2015, we granted approximately 1.6 million performance units, which will vest with continued employment, if the Company meets certain market-based performance goals. The performance units have a weighted average grant date fair value of $10.45 per share based on the Monte Carlo simulation method. The assumptions used in the Monte Carlo simulation included a risk-free rate of 0.51%, volatility of 46.1% and a zero dividend yield. As of March 31, 2015, there was $23 million of unrecognized compensation related to our performance units. This cost is expected to be recognized over a weighted average period of 2 years.

During the three months ended March 31, 2015, we also granted 1.7 million restricted shares at a weighted average grant date fair value of $11.46 per share. As of March 31, 2015, there was $81 million of unrecognized compensation related to our unvested restricted share grants. This cost is expected to be recognized over a weighted average period of 2 years.

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Derivative Instruments

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

We are exposed to market risk from changes in foreign currency and changes in interest rates. From time to time, we may enter into derivative financial instrument transactions to manage or reduce our market risk. We manage our debt portfolio to achieve an overall desired position of fixed and floating rates, and we may employ interest rate swaps as a tool to achieve that goal. The major risks from interest rate derivatives include changes in the interest rates affecting the fair value of such instruments, potential increases in interest expense due to market increases in floating interest rates and the creditworthiness of the counterparties in such transactions. In light of events in the global credit markets and the potential impact of these events on the liquidity of the banking industry, we continue to monitor the creditworthiness of our counterparties, which are multinational commercial banks. The fair values of all our outstanding derivative instruments are determined using a model with Level 2 inputs including quoted market prices for contracts with similar terms and maturity dates. Level 2 values for financial assets and liabilities are based on quoted prices in inactive markets, or whose values are based on models. Level 2 inputs to those models are observable either directly or indirectly for substantially the full term of the asset or liability. 

Fair Value Hedges

We may use interest rate swaps to help mitigate exposures related to changes in the fair values of the associated debt. Amounts paid or received upon termination of interest rate swaps accounted for as fair value hedges represent the fair value of the agreements at the time of termination and are amortized as a reduction, in the case of gains, or as an increase, in the case of losses, of interest expense over the remaining term of the debt. As of March 31, 2015, we had net unamortized gains of $31 million associated with interest rate swap terminations. These gains are being amortized over the remaining term of the originally hedged debt as a reduction in interest expense.

Other Derivative Instruments

We enter into contracts to hedge our exposure to currency fluctuations in various foreign currencies. At March 31, 2015 and December 31, 2014, we had outstanding foreign currency forward contracts with notional amounts aggregating $1.3 billion and $1.6 billion, respectively. The notional amounts of our foreign currency forward contracts do not generally represent amounts exchanged by the parties and, thus are not a measure of the cash requirements related to these contracts or of any possible loss exposure. The amounts actually exchanged are calculated by reference to the notional amounts and by other terms of the derivative contracts, such as exchange rates.

At December 31, 2014, to hedge our exposure to the Canadian dollar, we held cross-currency swaps between the U.S. dollar and Canadian dollar with a notional amount of $168 million. We settled the cross-currency swap arrangements in the three months ended March 31, 2015 after recognizing a mark-to-market gain of $13 million. We collected $8 million in proceeds upon settlement.

Our foreign currency forward contracts and cross-currency swaps were not designated as hedges, and the changes in fair value of the contracts are recorded each period in current earnings in the line captioned “Other, Net” on the accompanying Condensed Consolidated Statements of Operations.

The total estimated fair values of these foreign currency forward contracts and amounts receivable or owed associated with closed foreign currency contracts and the total estimated fair values of our cross-currency contracts are as follows:

(Dollars in millions)	March 31, 2015			December 31, 2014			Classification
Derivative assets not designated as hedges:
Foreign currency forward contracts	$	5		$	12		Other Current Assets
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(19		)	(17		)	Other Current Liabilities
Cross-currency swap contracts	—			(5		)	Other Liabilities

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Condensed Consolidated Statements of Operations was as follows:

	Gain (Loss) Recognized in Income
	Three Months Ended March 31,
(Dollars In millions)	2015			2014			Classification
Derivatives designated as fair value hedges:
Interest rate swaps	$	2		$	2		Interest Expense, Net
Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(66		)	(11		)	Other, Net
Cross-currency swap contracts	13			9			Other, Net

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New Accounting Pronouncements

3 Months Ended

Mar. 31, 2015

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements

New Accounting Pronouncements

In April 2015, the FASB issued new guidance related to presentation of debt issue costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related Note disclosures.

In February 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on the Consolidated Financial Statements and related Note disclosures.

In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non public entities reporting under U.S. GAAP. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements or Note disclosures.

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Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

Change in Reportable Segments

In the three months ended March 31, 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments which are North America, MENA/Asia Pacific, Europe/SSA/Russia, Latin America and Land Drilling Rigs. The operational performance of our segments is reviewed and managed primarily on a geographic basis, and we report the regional segments as separate, distinct reporting segments. In addition, the operations we intend to divest, in the case of our Land Drilling Rigs business, is reviewed and managed apart from our regional segments in the Land Drilling Rigs segment. Our corporate and other expenses that do not individually meet the criteria for group presentation continue to be reported separately as Corporate and Research and Development. Each business reflects a reportable segment led by separate business segment management that reports directly or indirectly to our chief operating decision maker (“CODM”). Our CODM assesses performance and allocates resources on the basis of the five reportable segments. We have revised our business segment reporting to reflect our current management approach and recast prior periods to conform to the current business segment presentation.

Financial information by segment is summarized below. Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our Form 10-K.

	Three Months Ended March 31, 2015
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,163	$	(10	)	$	105
MENA/Asia Pacific	533		60			65
Europe/SSA/Russia	417		71			50
Latin America	486		98			61
Subtotal	2,599		219			281
Land Drilling Rigs	195		10			29
	2,794		229			310
Corporate and Research and Development			(120		)	6
Restructuring Charges (a)			(41		)
Gain on Sale of Business, Net			3
Other Items (b)			(21		)
Total	$	2,794	$	50		$	316

(a) For the three months ended March 31, 2015, we recognized restructuring charges of $41 million: $8 million in North America, $6 million in MENA/Asia Pacific, $7 million in Europe/SSA/Russia, $12 million in Latin America, $5 million in Land Drilling Rigs and $3 million in Corporate and Research and Development.

(b) The three months ended March 31, 2015 includes professional fees of $13 million related to the divestiture of our non-core businesses, restatement related litigation, post-settlement monitor and auditor expenses and other charges of $8 million.

	Three Months Ended March 31, 2014
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization
North America	$	1,610	$	196		$	107
MENA/Asia Pacific	619		5			72
Europe/SSA/Russia	516		78			54
Latin America	509		90			58
Subtotal	3,254		369			291
Land Drilling Rigs	342		(27		)	54
	3,596		342			345
Corporate and Research and Development			(116		)	6
Restructuring Charges (c)			(70		)
Other Items (d)			(26		)
Total	$	3,596	$	130		$	351

(c) For the three months ended March 31, 2014, we recognized restructuring charges of $70 million: $9 million in North America, $4 million in MENA/Asia Pacific, $19 million in Europe/SSA/Russia, $19 million in Latin America, $3 million in Land Drilling Rigs and $16 million in Corporate and Research and Development.

(d) The three months ended March 31, 2014 includes professional fees of $23 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations and redomestication and other charges of $3 million.

The following table presents total assets by segment for each period ended:

	Total Assets
	March 31,		December 31,
(Dollars in millions)	2015		2014
North America	$	6,675	$	7,297
MENA/Asia Pacific	3,006		3,022
Europe/SSA/Russia	3,132		3,106
Latin America	3,163		3,211
Subtotal	15,976		16,636
Land Drilling Rigs	1,880		1,907
	17,856		18,543
Corporate and Research and Development	367		346
Total	$	18,223	$	18,889

Total assets in the United States, which is part of our North America segment, were $5.7 billion and $6.1 billion as of March 31, 2015 and December 31, 2014, respectively. The remaining North America total assets balance of $1 billion and $1.2 billion, respectively as of March 31, 2015 and December 31, 2014, is related to our operations in Canada.

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Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 13, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Weatherford International plc
Entity Central Index Key	0001603923
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		774,681,386
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015

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Disputes, Litigation and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Disputes, Litigation and Contingencies

Disputes, Litigation and Contingencies

Shareholder Litigation

In 2010, three shareholder derivative actions were filed, purportedly on behalf of the Company, asserting breach of duty and other claims against certain current and former officers and directors of the Company related to the United Nations oil-for-food program governing sales of goods into Iraq, the FCPA and trade sanctions related to the U.S. government investigations disclosed above and in our U.S. Securities and Exchange Commission (the “SEC”) filings since 2007. Those shareholder derivative cases, captioned Neff v. Brady, et al., No. 201040764, Rosner v. Brady, et al., No. 201047343, and Hess v. Duroc-Danner, et al., No. 201040765, were filed in Harris County, Texas state court and consolidated (collectively referred to as the “Neff Case”). In 2014, one of the three cases, Hess v. Duroc-Danner, et al., No. 201040765, was voluntarily dismissed from the Neff Case. Other shareholder demand letters covering the same subject matter were received by the Company in early 2014, and a fourth shareholder derivative action was filed, purportedly on behalf of the Company, also asserting breach of duty and other claims against certain current and former officers and directors of the Company related to the same subject matter as the Neff Case. That case, captioned Erste-Sparinvest KAG v. Duroc-Danner, et al., No. 201420933 (Harris County, Texas) was consolidated into the Neff Case in September 2014. A motion to dismiss the consolidated action is pending.

In March 2012, a purported securities class action captioned Freedman v. Weatherford International Ltd., et al., No. 1:12-cv-02121-LAK (SDNY) was filed in the Southern District of New York against us and certain current and former officers. That case alleges violation of the federal securities laws related to the restatement of our historical financial statements announced on February 21, 2012, and later added claims related to the announcement of a subsequent restatement on July 24, 2012. In the three months ended December 31, 2014, we advanced settlement negotiations such that settlement is deemed probable and we continue to maintain an accrual of the estimated probable loss.

We cannot reliably predict the outcome of these cases including the amount of any possible loss. If one or more negative outcomes were to occur relative to these cases, the aggregate impact to our financial condition could be material.

In March 2011, a shareholder derivative action, Iron Workers Mid-South Pension Fund v. Duroc-Danner, et al., No. 201119822, was filed in Harris County, Texas, civil court purportedly on behalf of the Company against certain current and former officers and directors, alleging breaches of duty related to the material weakness and restatement announcements. In February 2012, a second substantially similar shareholder derivative action, Wandel v. Duroc-Danner, et al., No. 1:12-cv-01305-LAK (SDNY), was filed in federal court in the Southern District of New York. In June 2014, the parties signed a term sheet resolving the action for an agreed upon set of revised corporate procedures, no monetary payment by the defendants, and an award of attorneys’ fees for the planitiff’s counsel. In March 2015, the court approved notice to the class of the proposed settlement and set the final hearing for June 24, 2015. We maintain an immaterial accrual for the attorney’s fees included in the proposed settlement.

In March 2011, a purported shareholder class action captioned Dobina v. Weatherford International Ltd., et al., No. 1:11-cv-01646-LAK (SDNY), was filed in the U.S. District Court for the Southern District of New York, following our announcement on March 1, 2011 of a material weakness in our internal controls over financial reporting for income taxes, and restatement of our historical financial statements (the “2011 Class Action”). The lawsuit alleged violation of the federal securities laws by us and certain current and former officers. During the three months ended December 31, 2013, we entered into negotiations to settle the 2011 Class Action. As a result of these negotiations, settlement became probable and a settlement agreement was signed on January 29, 2014. The settlement was approved by the U.S. District Court for the Southern District of New York on January 5, 2015, and final judgment entered on January 30, 2015. The settlement agreement required payments totaling $53 million which was entirely funded by our insurers.

U.S. Government and Internal Investigations

On January 17, 2014, the U.S. District Court for the Southern District of Texas approved the settlement agreements between us and certain of our subsidiaries and the U.S. Department of Justice (“DOJ”). On November 26, 2013, we announced that we and our subsidiaries also entered into settlement agreements with the U.S. Departments of Treasury and Commerce and with the SEC, which the U.S. District Court for the Southern District of Texas entered on December 20, 2013. These agreements collectively resolved investigations of prior alleged violations by us and certain of our subsidiaries relating to certain trade sanctions laws, participation in the United Nations oil-for-food program governing sales of goods into Iraq and non-compliance with FCPA matters. 

The $253 million payable by us and our subsidiaries was paid in January and February 2014 pursuant to the terms of the settlement agreements. These agreements include a requirement to retain, for a period of at least 18 months, an independent monitor responsible for assessing our compliance with the terms of the agreement so as to address and reduce the risk of recurrence of alleged misconduct, after which we would continue to evaluate our own compliance program and make periodic reports to the DOJ and SEC and maintain agreed compliance monitoring and reporting systems, all of which is costly to us. In April 2014, the independent monitor was retained and the compliance assessment period began. These agreements also require us to retain an independent third party to retroactively audit our compliance with U.S. export control laws during the years 2012, 2013 and 2014. This audit is on-going.

The SEC and DOJ are also investigating the circumstances surrounding the material weakness in our internal controls over financial reporting for income taxes that was disclosed in a notification of late filing on Form 12b-25 filed on March 1, 2011 and in current reports on Form 8-K filed on February 21, 2012 and on July 24, 2012 and the subsequent restatements of our historical financial statements. We are cooperating fully with these investigations. We are unable to predict the outcome of these matters due to the inherent uncertainties presented by such investigations, and we are unable to predict potential outcomes or estimate the range of potential loss contingencies, if any. The government, generally, has a broad range of civil and criminal penalties available for these types of matters under applicable law and regulation, including injunctive relief, fines, penalties and modifications to business practices, some of which, if imposed on us, could be material to our business, financial condition or results of operations.

Additionally, we are aware of various disputes and potential claims and are a party in various litigation involving claims against us, some of which are covered by insurance. For claims, disputes and pending litigation in which we believe a negative outcome is probable and a loss can be reasonably estimated, we have recorded a liability for the expected loss. These liabilities are immaterial to our financial condition and results of operations. In addition we have certain claims, disputes and pending litigation regarding which we do not believe a negative outcome is probable or for which we can only estimate a range of liability. It is possible, however, that an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, that would result in liability that could be uninsured and beyond the amounts we currently have reserved and in some cases those losses could be material. If one or more negative outcomes were to occur relative to these matters, the aggregate impact to our financial condition could be material.

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Condensed Consolidating Financial Statements (Narrative) (Details)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Apr. 10, 2014	May 02, 2013	Dec. 31, 2014
Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, term	364 days
Senior Notes, 6.35% due 2017 [Member] | Senior Notes [Member] | Weatherford Bermuda [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt				6.35%
Senior Notes, 6.80% due 2037 [Member] | Senior Notes [Member] | Weatherford Bermuda [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt				6.80%
Senior Notes, 5.50% due 2016 [Member] | Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	5.50%
Senior Notes, 5.50% due 2016 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	5.50%			5.50%
Senior Notes, 6.50% due 2036 [Member] | Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	6.50%
Senior Notes, 6.50% due 2036 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	6.50%			6.50%
Senior Notes, 6.00% due 2018 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	6.00%			6.00%
Senior Notes, 7.00% due 2038 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	7.00%			7.00%
Senior Notes, 9.625% due 2019 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	9.625%			9.625%
Senior Notes, 9.875% due 2039 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	9.875%			9.875%
Senior Notes, 5.125% due 2020 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	5.125%			5.125%
Senior Notes, 6.75% due 2040 [Member] | Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	6.75%
Senior Notes, 6.75% due 2040 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	6.75%			6.75%
Senior Notes, 4.50% due 2022 [Member] | Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	4.50%
Senior Notes, 4.50% due 2022 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	4.50%			4.50%
Senior Notes, 5.95% due 2042 [Member] | Senior Notes [Member] | Weatherford Delaware [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on debt	5.95%			5.95%
Notes Payable to Banks [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, term		364 days	364 days

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Disputes, Litigation and Contingencies (Details) (USD $) In Millions, unless otherwise specified	2 Months Ended	12 Months Ended	3 Months Ended
	Feb. 25, 2014	Dec. 31, 2013	Mar. 31, 2014
U.S. District Court for the Southern District of Texas v. Weatherford International Ltd. [Member] | Oil-for-Food Program and Foreign Corrupt Practices Act [Member]
Loss Contingencies [Line Items]
Payments for legal settlements	$ 253
Period of time expected to be monitored for assessing company's compliance upon settlement		18 months
Dobina v. Weatherford International Ltd., et al. [Member] | Material Weakness in Internal Controls [Member]
Loss Contingencies [Line Items]
Payments for legal settlements			$ 53