Quarterly Financial Data (Unaudited)

Summarized quarterly financial data for the years ended December 31, 2017 and 2016 are presented in the following tables. In the following tables, the sum of basic and diluted “Loss Per Share” for the four quarters may differ from the annual amounts due to the required method of computing weighted average number of shares in the respective periods. Additionally, due to the effect of rounding, the sum of the individual quarterly earnings per share amounts may not equal the calculated year earnings per share amount.



	2017 Quarters
(Dollars in millions, except per share amounts)	First				Second				Third				Fourth				Total
Revenues	$	1,386			$	1,363			$	1,460			$	1,490			$	5,699
Gross Profit	180				174				264				192				810
Net Loss Attributable to Weatherford	(448		)	^(a)	(171		)	^(b)	(256		)	^(c)	(1,938		)	^(d)	(2,813		)

Basic & Diluted Loss Per Share	(0.45		)		(0.17		)		(0.26		)		(1.95		)		(2.84		)


(a)	Includes charges of $134 million primarily related to severance and restructuring charges, asset write-downs and a warrant fair value adjustment, partially offset by defined benefit pension plan reclassifications.


(b)	Includes credits of $108 million primarily related to gains on a warrant fair value and defined benefit pension plan reclassifications, partially offset by severance and restructuring charges and asset write-downs.


(c)	Includes charges of $35 million primarily related to severance and restructuring charges and a warrant fair value adjustment.

(d)

Includes charges of $1.6 billion primarily related to long-lived asset impairments (including the write-down to the lower of carrying amount or fair value less cost to sell of our land drilling rigs assets classified as held for sale), inventory write-downs, the write-down of Venezuelan receivables, severance and restructuring charges, partially offset by a gain on sale of assets and a warrant fair value adjustment.



	2016 Quarters
(Dollars in millions, except per share amounts)	First				Second				Third				Fourth				Total
Revenues	$	1,585			$	1,402			$	1,356			$	1,406			$	5,749
Gross Profit	111				164				126				159				560
Net Loss Attributable to Weatherford	(498		)	^(e)	(565		)	^(f)	(1,780		)	^(g)	(549		)	^(h)	(3,392		)

Basic & Diluted Loss Per Share	(0.61		)		(0.63		)		(1.98		)		(0.59		)		(3.82		)


(e)	Includes charges of $285 million primarily related to severance and restructuring, litigation charges, pressure pumping related charges and an estimated project loss on our long-term early production facility construction contract.


(f)	Includes charges of $347 million primarily related to litigation charges, an adjustment to a note from PDVSA to fair value, a bond tender premium incurred from a tender offer and severance and restructuring charges partially offset by an estimated project income on our long-term early production facility construction contract.


(g)	Includes charges of $771 million primarily related to long-lived asset impairments, inventory write-downs and severance and restructuring.


(h)	Includes charges of $245 million primarily related to severance and restructuring, litigation charges and pressure pumping related charges.