Earnings per Share

12 Months Ended

Dec. 31, 2020

22. Earnings per Share

Basic earnings (loss) per share for all periods presented equals net income (loss) divided by our weighted average shares outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by our weighted average shares outstanding during the period including potential dilutive ordinary shares.

The following table presents our basic and diluted weighted average shares outstanding and loss per share:


	Successor				Predecessor
			Period From		Period From
	Year		12/14/19		1/1/2019		Year
	Ended		through		through		Ended
(Shares in millions)	12/31/2020		12/31/2019		12/13/2019		12/31/2018
Net Income (Loss) Attributable to Weatherford	$	(1,921)	$	(26)	$	3,661	$	(2,811)
Basic and Diluted Weighted Average Shares Outstanding	70		70		1,004		997
Basic and Diluted Income (Loss) Per Share Attributable to Weatherford	$	(27.44)	$	(0.37)	$	3.65	$	(2.82)

Our basic and diluted weighted average shares outstanding for the 2020 and 2019 Successor Periods are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares for the 2020 and 2019 Successor Periods exclude 8 million potential ordinary shares. Our basic and diluted weighted average shares outstanding for the 2019 Predecessor Period are equivalent as we believe including the dilutive impact of our Predecessor potential shares would not be meaningful as the potential shares were cancelled pursuant to the terms of the Plan. Our basic and diluted weighted average shares outstanding for the 2018 Predecessor Period are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the 2019 and 2018 Predecessor Periods exclude 197 million and 251 million potential ordinary shares, respectively, for restricted share units, performance units, exchangeable senior notes and warrants outstanding.