Schedule II - Valuation and Qualifying Accounts and Allowances

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Allowances

SCHEDULE II - WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS AND ALLOWANCES

FOR THE SUCCESSOR PERIODS ENDED DECEMBER 31, 2021, 2020 AND 2019

AND PREDECESSOR PERIOD ENDED DECEMBER 13, 2019

	Balance at								Balance at
	Beginning								End of
(Dollars in millions)	of Period		Expense		Recoveries (c)		Other (b)		Period
Year Ended December 31, 2021 (Successor):
Allowance for Credit Losses on Accounts Receivable	$	32	30		(26)		(5)		$	31
Valuation Allowance on Deferred Tax Assets	$	1,499	—		(29)		(44)		$	1,426
Excess and Obsolete Inventory Reserve	$	119	55		(10)		(5)		$	159
Year Ended December 31, 2020 (Successor):
Allowance for Credit Losses on Accounts Receivable	$	—	$	32	$	—	$	—	$	32
Valuation Allowance on Deferred Tax Assets	$	1,166	$	330	$	—	$	3	$	1,499
Excess and Obsolete Inventory Reserve	$	—	$	210	$	—	$	(91)	$	119
Year Ended December 31, 2019 (Successor):
Allowance for Credit Losses on Accounts Receivable	$	—	$	—	$	—	$	—	$	—
Valuation Allowance on Deferred Tax Assets	$	1,222	$	—	$	(56)	$	—	$	1,166
Excess and Obsolete Inventory Reserve	$	—	$	—	$	—	$	—	$	—
Year Ended December 13, 2019 (Predecessor):
Current Allowance for Uncollectible Accounts Receivable	$	123	$	4	$	(3)	$	(124)	$	—
Long-term Allowance for Uncollectible Accounts Receivable (a)	171		—		(3)		(168)		—
Total Allowance for Uncollectible Accounts Receivable	$	294	$	4	$	(6)	$	(292)	$	—
Valuation Allowance on Deferred Tax Assets	$	1,702	$	—	$	(480)	$	—	$	1,222
Excess and Obsolete Inventory Reserve	$	305	$	163	$	(4)	$	(464)	$	—

(a)The long-term allowance was related to our primary customer in Venezuela. Upon emergence from bankruptcy on December 13, 2019, the allowance for uncollectible accounts receivable related to our primary customer in Venezuela was nil.

(b)Other in 2019 almost entirely represents our Fresh Start Accounting adjustments to record our reserves at fair value at December 13, 2019. Generally, other within the allowance for credit losses on accounts receivable includes reductions to allowance for currency translation, reclassification to other accounts or the write-off of the related allowance. Other within the excess and obsolete inventory reserve includes reductions of reserve for currency translation and the removal of scrapped inventory that had been previously reserved. Other within the allowance on deferred tax assets includes reductions for currency translation and other balance sheet only adjustments.

(c)Recoveries in the 2021 and 2019 Successor Periods for deferred tax assets reflect the net movement in the valuation allowance that went through tax expense, which was a net benefit. The 2019 Predecessor Period also included the impact of Fresh Start Accounting on the deferred tax assets.

All other schedules are omitted because they are not required or because the information is included in the financial statements or the related notes.