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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information
24. Segment Information
 
Reporting Segments

The Company’s chief operating decision maker (its chief executive officer) regularly reviews information by our two reportable segments, which are our Western Hemisphere and Eastern Hemisphere segments. These reportable segments are based on management’s organization and view of Weatherford’s business when making operating decisions, allocating resources and assessing performance. Research and development expenses are included in the results of our Western and Eastern Hemisphere segments. Our corporate and other expenses that do not individually meet the criteria for segment reporting are reported separately on the caption Corporate.

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 and was further described in “Note 23 – Revenues.” The accounting policies of the segments are the same as those described in “Note 1 – Summary of Significant Accounting Policies.”
SuccessorPredecessor
Period FromPeriod From
12/14/20191/1/2019
 Year Endedthrough throughYear Ended
(Dollars in millions)
12/31/2020
12/31/201912/13/201912/31/2018
Revenue:
Western Hemisphere$1,586 $121 $2,620 $3,063 
Eastern Hemisphere2,099 140 $2,334 $2,681 
  Total Revenue$3,685 $261 $4,954 $5,744 
Operating Income (Loss):
Western Hemisphere$18 $(4)$54 $208 
Eastern Hemisphere 37 10 134 119 
Total Segment Operating Income$55 $6 $188 $327 
Corporate(111)(5)(118)(130)
Impairments and Other Charges (a)
(1,236)— (1,104)(2,155)
Restructuring Charges (b)
(206)— (189)(126)
Prepetition Charges (c)
— — (86)— 
Gain on Operational Assets Sale12 — 15 — 
Gain on Sale of Businesses, Net (d)
— — 112 — 
Total Operating Income (Loss)$(1,486)$1 $(1,182)$(2,084)
Interest Expense, Net(266)(12)(362)(614)
Reorganization Items (c)
(9)(4)5,389 — 
Other Expense, Net(53)— (26)(59)
Income (Loss) Before Income Taxes$(1,814)$(15)$3,819 $(2,757)
Depreciation and Amortization:
Western Hemisphere$134 $14 $171 $216 
Eastern Hemisphere369 20 269 333 
Corporate— — 7 7 
Total$503 $34 $447 $556 
(a)See “Note 4 – Impairments and Other Charges”, “Note 10 – Long-Lived Asset Impairments” and “Note 11 – Goodwill and Intangible Assets” for additional information.
(b)See “Note 12 – Restructuring Charges” for additional information.
(c)See “Note 2 – Emergence from Chapter 11 Bankruptcy Proceedings” for additional information.
(d)Primarily includes the gain on sale of our reservoir solutions business. See “Note 8 – Business Combinations and Divestitures” for additional information.
SuccessorPredecessor
Period FromPeriod From
Year12/14/20191/1/2019Year
Endedthrough throughEnded
(Dollars in millions)12/31/202012/31/201912/13/201912/31/2018
Capital Expenditures:
Western Hemisphere$79 $9 $113 $81 
Eastern Hemisphere59 7 115 87 
Corporate16 4 22 18 
Total$154 $20 $250 $186 

The following table presents total assets by segment:
December 31,
(Dollars in millions)20202019
Western Hemisphere$1,636 $2,514 
Eastern Hemisphere3,089 4,392 
Corporate709 387 
Total$5,434 $7,293 

Long-lived Assets by Geographic Areas

Long-lived assets by geographic area within the segments are summarized below and exclude goodwill and intangible assets (see “Note 11 – Goodwill and Intangible Assets” for additional details) as well as deferred tax assets of $15 million and $39 million at December 31, 2020 and December 31, 2019, respectively. Long-lived assets were zero in our country of domicile (Ireland) and in the U.S. were $306 million and $532 million as of December 31, 2020 and December 31, 2019, respectively.
December 31,
(Dollars in millions)20202019
North America$435 $753 
Latin America174 296 
  Western Hemisphere $609 $1,049 
Middle East & North Africa and Asia$482 $715 
Europe/Sub-Sahara Africa/Russia344 684 
  Eastern Hemisphere $826 $1,399 
  Total$1,435 $2,448