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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2019
Dec. 13, 2019
Dec. 31, 2020
Dec. 31, 2018
Revenue from Contract with Customer, Including Assessed Tax $ 261 $ 4,954 $ 3,685 $ 5,744
Revenues:        
Total Revenues 261 4,954 3,685 5,744
Costs and Expenses:        
Research and Development 7 136 97 139
Selling, General and Administrative 45 895 837 894
Asset Impairment Charges 0 1,104 1,236 2,155
Restructuring Charges 0 189 206 126
Prepetition Charges 0 86 0 0
Gain on Sale of Operational Assets 0 15 12 0
Gain on Sale of Businesses, Net 0 (112) 0 0
Total Costs and Expenses 260 6,136 5,171 7,828
Operating Income (Loss) 1 (1,182) (1,486) (2,084)
Other Income (Expense):        
Reorganization Items (4) 5,389 (9) 0
Interest Expense, Net (12) (362) (266) (614)
Other Expense, Net 0 (26) (53) (59)
Income (Loss) Before Income Taxes (15) 3,819 (1,814) (2,757)
Income Tax Provision (9) (135) (85) (34)
Net Income (Loss) (24) 3,684 (1,899) (2,791)
Net Income Attributable to Noncontrolling Interests 2 23 22 20
Net Income (Loss) Attributable to Weatherford $ (26) $ 3,661 $ (1,921) $ (2,811)
Income (Loss) Per Share Attributable to Weatherford:        
Earnings Per Share, Basic and Diluted $ (0.37) $ 3.65 $ (27.44) $ (2.82)
Weighted Average Shares Outstanding:        
Basic & Diluted (in shares) 70 1,004 70 997
Operating Segments [Member]        
Costs and Expenses:        
Operating Income (Loss) $ 6 $ 188 $ 55 $ 327
Product        
Revenue from Contract with Customer, Including Assessed Tax 111 1,819 1,435 2,051
Revenues:        
Cost of Goods and Services Sold 100 1,685 1,257 1,887
Service        
Revenue from Contract with Customer, Including Assessed Tax 150 3,135 2,250 3,693
Revenues:        
Cost of Goods and Services Sold $ 108 $ 2,168 $ 1,550 $ 2,627