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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, 2021
Dec. 31, 2020
Revenues:        
Total Revenues $ 261 $ 4,954 $ 3,645 $ 3,685
Costs and Expenses:        
Research and Development 7 136 85 97
Selling, General and Administrative 45 895 738 837
Asset Impairment Charges 0 750 0 1,053
Restructuring Charges 0 189 0 206
Total Other Charges (Credits), Net 0 339 (10) 171
Prepetition charges 0 86 0 0
Gain on Sale of Businesses, Net 0 (112) 0 0
Total Costs and Expenses 260 6,136 3,529 5,171
Operating Income (Loss), Total 1 (1,182) 116 (1,486)
Other Income (Expense):        
Interest Expense, Net (12) (362) (260) (251)
Gain (loss) on extinguishment of debt 0 0 (170) 0
Loss on Termination of ABL Credit Agreement 0 0 0 (15)
Reorganization Items (4) 5,389 0 (9)
Other Expense, Net 0 (26) (29) (53)
Income (Loss) Before Income Taxes (15) 3,819 (343) (1,814)
Income Tax Provision (9) (135) (86) (85)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total (24) 3,684 (429) (1,899)
Net Income Attributable to Noncontrolling Interests 2 23 21 22
Net Income (Loss) Attributable to Weatherford $ (26) $ 3,661 $ (450) $ (1,921)
Income (Loss) Per Share Attributable to Weatherford:        
Earnings Per Share, Basic and Diluted $ (0.37) $ 3.65 $ (6.43) $ (27.44)
Weighted Average Shares Outstanding:        
Basic & Diluted (in shares) 70 1,004 70 70
Operating Segments [Member]        
Revenues $ 243 $ 4,663 $ 3,546 $ 3,564
Other Income (Expense):        
Income (Loss) Before Income Taxes 36 660 633 559
Product        
Revenues 111 1,819 1,292 1,435
Revenues:        
Cost of Goods and Services Sold 100 1,685 1,169 1,257
Service        
Revenues 150 3,135 2,353 2,250
Revenues:        
Cost of Goods and Services Sold $ 108 $ 2,168 $ 1,547 $ 1,550