Weatherford International (WFRD) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020	Dec. 31, 2019
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity Registrant Name	Weatherford International plc
Entity File Number	001-36504
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-0606750
Entity Address, Address Line One	2000 St. James Place
Entity Address, City or Town	Houston
Entity Address, Country	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	836.4000
Title of 12(b) Security	Ordinary shares, $0.001 par value per share
Trading Symbol	WFTLF
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		70,017,356
Ordinary Shares, Par Value (in USD)	$ 0.001		$ 0.001
Entity Central Index Key	0001603923
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenue from Contract with Customer	$ 1,215	$ 1,346
Total Revenues	1,215	1,346
Costs and Expenses:
Research and Development	33	36
Selling, General and Administrative	248	231
Long-lived Assets Impairment	640	0
Goodwill Impairment	167	229
Restructuring and Other Charges	36	69
Total Costs and Expenses	2,037	1,647
Operating Income (Loss)	(822)	(301)
Other Expense:
Reorganization Items	(9)	0
Interest Expense, Net	(58)	(155)
Other Expense, Net	(25)	(9)
Loss Before Income Taxes	(914)	(465)
Income Tax Provision	(44)	(12)
Net Loss	(958)	(477)
Net Income Attributable to Noncontrolling Interests	8	4
Net Income (Loss) Attributable to Weatherford	$ (966)	$ (481)
Loss Per Share Attributable to Weatherford:
Loss Per Share, Basic & Diluted (in dollars per share)	$ (13.80)	$ (0.48)
Weighted Average Shares Outstanding:
Weighted Average Shares Outstanding, Basic and Diluted (in shares)	70	1,003
Products
Revenues:
Revenue from Contract with Customer	$ 450	$ 496
Costs and Expenses:
Cost of Goods and Services Sold	392	468
Services
Revenues:
Revenue from Contract with Customer	765	850
Costs and Expenses:
Cost of Goods and Services Sold	$ 521	$ 614

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Loss	$ (958)	$ (477)
Foreign Currency Translation Adjustments	(95)	33
Comprehensive Loss	(1,053)	(444)
Comprehensive Income Attributable to Noncontrolling Interests	8	4
Comprehensive Loss Attributable to Weatherford	$ (1,061)	$ (448)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets:
Cash and Cash Equivalents	$ 670	$ 618
Restricted Cash, Current	94	182
Accounts Receivable, Net of Allowance for Credit Losses of $10 at March 31, 2020 and $0 at December 31, 2019	1,204	1,241
Inventories, Net	1,004	972
Other Current Assets	402	440
Total Current Assets	3,374	3,453
Property, Plant and Equipment, Net of Accumulated Depreciation of $124 at March 31, 2020 and $25 at December 31, 2019	1,554	2,122
Goodwill	72	239
Intangible Assets, Net of Accumulated Amortization of $55 at March 31, 2020 and $9 at December 31, 2019	928	1,114
Other Non-Current Assets	237	365
Total Assets	6,165	7,293
Liabilities:
Short-term Borrowings and Current Portion of Long-term Debt	26	13
Accounts Payable	544	585
Accrued Salaries and Benefits	248	270
Income Taxes Payable	199	205
Other Current Liabilities	627	599
Total Current Liabilities	1,644	1,672
Long-term Debt	2,149	2,151
Other Non-Current Liabilities	509	554
Total Liabilities	4,302	4,377
Shareholders’ Equity:
Ordinary Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 70 shares at March 31, 2020 and December 31, 2019	0	0
Capital in Excess of Par Value	2,897	2,897
Retained Deficit	(992)	(26)
Accumulated Other Comprehensive Income (Loss)	(86)	9
Weatherford Shareholders’ Equity	1,819	2,880
Noncontrolling Interests	44	36
Total Shareholders’ Equity	1,863	2,916
Total Liabilities and Shareholders’ Equity	$ 6,165	$ 7,293

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets:
Allowance for Uncollectible Accounts	$ 10	$ 0
Noncurrent Assets:
Accumulated Depreciation of Property, Plant and Equipment	124	25
Accumulated Amortization of Other Intangible Assets	$ 55	$ 9
Shareholders’ Equity:
Ordinary Shares, Par Value (in USD)	$ 0.001	$ 0.001
Ordinary Shares, Authorized (in shares)	1,356	1,356
Ordinary Shares, Issued (in shares)	70	70
Ordinary Stock, Outstanding (in shares)	70	70

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Cash Flows from Operating Activities:
Net Loss	$ (958)		$ (477)
Adjustments to Reconcile Net Loss to Net Cash Provided by (Used in) Operating Activities:
Depreciation and Amortization	157		123
Goodwill Impairment	167	$ 167	229
Long-lived Asset Impairments and Other Charges	648		31
Loss on Sale Businesses, Net	1		36
Deferred Income Tax Provision (Benefit)	23		(6)
Other Net Income Adjustments	5		2
Change in Operating Assets and Liabilities:
Accounts Receivable	(3)		(18)
Inventories	(48)		(40)
Accounts Payable	(32)		11
Other, Net	70		(140)
Net Cash Provided by (Used in) Operating Activities	30		(249)
Cash Flows From Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(38)		(59)
Payments of Deferred Consideration on the Acquisition of Equity Investment	(12)		0
Acquisition of Intangible Assets	(2)		(5)
Proceeds from Disposition of Assets	6		26
Proceeds from Disposition of Businesses, Net	(1)		74
Net Cash Provided by (Used in) Investing Activities	(47)		36
Cash Flows From Financing Activities:
Repayments of Long-term Debt	(2)		(15)
Borrowings (Repayments) of Short-term Debt, Net	(3)		228
Other Financing Activities	(3)		(5)
Net Cash Provided by (Used in) Financing Activities	(8)		208
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(11)		1
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(36)		(4)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	800		602
Cash, Cash Equivalents and Restricted Cash at End of Period	764	$ 800	598
Supplemental Cash Flow Information:
Interest Paid	2		157
Income Taxes Paid, Net of Refunds	21		35
Non-cash Financing Obligations	$ 17		$ 0

General

General	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company,” or “Weatherford”) are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC for interim financial information. Accordingly, certain information and disclosures normally included in our annual financial statements have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with our audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Annual Report”). In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state our results of operations, financial position and cash flows of the Company and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. The Company’s financial statements have been prepared on a consolidated basis. Under this basis, our financial statements consolidate all wholly owned subsidiaries and controlled joint ventures. All intercompany accounts and transactions have been eliminated. Summary of Significant Accounting Policies Please refer to “Note 1 – Summary of Significant Accounting Policies” of our Consolidated Financial Statements from our 2019 Annual Report for the discussion on our significant accounting policies. Certain reclassifications of the financial statements and accompanying footnotes for the three months ended March 31, 2019 have been made to conform to the presentation for the three months ended March 31, 2020 . As described in “Note 1 – Summary of Significant Accounting Policies”, “Note 2 – Emergence from Bankruptcy Proceedings”, and “Note 3 – Fresh Start Accounting” of our Consolidated Financial Statements from our 2019 Annual Report, we filed voluntary petitions for bankruptcy on July 1, 2019, then emerged from bankruptcy on December 13, 2019 and adopted fresh-start accounting upon emergence. References to “Predecessor” herein relate to the Condensed Consolidated Statements of Operations for the period ended March 31, 2019 (“Predecessor Period”). References to “Successor” herein relate to the Condensed Consolidated Balance Sheets of the reorganized Company as of March 31, 2020 and December 31, 2019 and the Condensed Consolidated Statements of Operations for the three months ended March 31, 2020 (“Successor Period”) and are not comparable to the Consolidated Financial Statements of the Predecessor as indicated by the “black line” division in the financials and footnote tables, which emphasizes the lack of comparability between amounts presented. The Company’s financial results for future periods will be different from historical trends and the differences may be material. Impact of COVID-19 and Oil Price Declines on Our Operations and Liquidity Throughout the first quarter of 2020, multiple events have created significant uncertainty for the trajectory of the industry and the Company, lowering expectations of oil and gas related spending throughout the remainder of 2020 and beyond. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. In response, national and local governments imposed rapidly evolving social distancing guidelines, travel restrictions and stay-at-home orders that caused a significant decrease in activity in the global economy and the demand for oil and gas which negatively impacted the price of oil and gas. By the end of March, t he spread of COVID-19 eventually caused most countries to implement lock-down or shelter-in-place measures. This has caused a demand destruction for hydrocarbons, causing unprecedented dislocations throughout the industry. These measures have negatively impacted, and will continue to have near-term and long-term impacts, on our ability to operate effectively, including operational and manufacturing disruptions such as a lack of availability of key components from our suppliers, customer restrictions that prevent us access to their sites and changes to Weatherford’s policies that have restricted the way our employees work. Compounding the collapse in global demand for oil brought about by the COVID-19 lock-downs across the world, in March 2020, members of the Organization of the Petroleum Exporting Countries and ten other oil producing countries (“OPEC+”) met to discuss how to respond to the potential market effects of the global COVID-19 pandemic. The meeting ended on March 6, 2020, as Saudi Arabia failed to convince Russia to reduce production to offset falling demand due to slowing economic activity resulting from the global COVID-19 pandemic. In response to Russia’s refusal to accept the production cut, Saudi Arabia announced an immediate reduction in its export prices and Russia announced that all previously agreed oil production cuts would expire on April 1, 2020. These actions flooded the global market with an oversupply of oil. As a result, the price of oil and gas further declined and available worldwide storage was nearing capacity, which is further pressuring commodity prices and forcing producers to shut-in a significant amount of production globally. In early April 2020, in response to significantly depressed global oil prices, certain countries, led by Saudi Arabia, Russia and the United States, committed to implement reductions in world oil production. However, the price of oil and gas has not recovered to date and recovery is not expected in the near term. Worldwide economic activity is falling sharply, and oil demand destruction is leading to an unprecedented supply-demand imbalance in the range of 20-30 million barrels per day . Moreover, once the supply and demand equation re-balances, it is unclear when a stable oil market will return as record crude inventories will dampen the pace of any recovery, translating to near-term uncertainties in activity and challenges in forecasting our business. The imbalance between supply and demand for oil created by simultaneous impacts of the COVID-19 pandemic and recent actions by certain OPEC+ nations, together with uncertainty around the extent and timing for an economic recovery, have caused extreme market volatility and resulted in a precipitous decline in commodity prices during March 2020 and April 2020 and substantial reductions to the capital spending plans of exploration and production companies. This has resulted in, and is expected to continue to result in, weakened demand for our products and services through the remainder of 2020 and, potentially, 2021. As a result, our financial results for the first quarter of 2020, and our outlook for the remainder of the year, have been materially and negatively impacted. In addition, we also anticipate substantial constraints on our ability to generate revenues, profits and cash flows and to maintain adequate liquidity. We currently expect a multi-year (2020 to 2021 and beyond) dislocation across the industry, with the quickest and deepest impacts to be felt across North America, followed by certain international markets such as Europe, Latin America and Sub Saharan Africa. Entering 2020, we were already taking a number of actions that were yielding improvements in our cost structure. However, given current developments, we are now implementing more aggressive actions to right-size our business to address current market conditions. At March 31, 2020, we had adequate liquidity and were compliant with our financial covenants under the agreements governing our outstanding indebtedness. However, our rapidly changing operating environment has led to an inability to predict the ultimate length and depth of the adverse economic impact from the COVID-19 pandemic and uncertainty in the global oil markets on our industry and the Company, though the effects have been, and are expected to continue to be, significant. In this backdrop, given the material decline in our business as a result of the historic oversupply of hydrocarbons worldwide, we expect that a breach of our covenants under our ABL Revolving Credit Agreement is forthcoming. A breach of the financial covenants under our ABL Credit Agreement would constitute an event of default under our ABL Credit Agreement and if not cured or waived, would potentially constitute an event of default under our LC Credit Agreement and our unsecured Exit Notes. An event of default under these agreements could result in the obligations under these agreements being accelerated or cash collateralized . Either such result would constrain liquidity to the point where we would not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on the Company’s ability to continue as a going concern within the next 12 months. As a result, our management and the Board of Directors are evaluating options to improve liquidity and address the Company’s long-term capital structure. To address this expected shortfall in liquidity and capital structure constraints, we are in discussions with holders of our unsecured senior notes with respect to potential deleveraging or restructuring transactions. The Company cannot provide any assurances if or when it will agree on the terms of or consummate any potential restructuring or deleveraging transactions. Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern The significant uncertainty on the long-term impacts of the COVID-19 pandemic in general, the global economy, and the oil and gas industry for 2020 and beyond is having a substantial negative impact on our business. The global impacts surrounding the COVID-19 pandemic discussed above, including operational and manufacturing disruptions, logistical constraints and travel restrictions, are rapidly evolving and dynamic. We have experienced and expect to continue to experience actions that will negatively impact our ability to operate, including delays or a lack of availability of key components from our suppliers, customer restrictions that prevents access to their sites, community measures to contain the spread of the virus, and changes to Weatherford’s policies that have restricted the way our employees work. We expect most, if not all, of these disruptions and constraints to have lasting effects on how we and our customers and suppliers work in the future. The demand destruction associated with the COVID-19 pandemic and recent actions by OPEC+ have caused commodity prices to plunge precipitously and correspondingly, substantial activity declines in the industry. Further, actions by certain members of OPEC+ and its partners significantly disrupted the supply/demand equation, resulting in unprecedented commodity price weakness, significant reductions to the capital spending plans of our customers and uncertainty of when a stable oil market returns. Global storage for crude is on the verge of reaching capacity, further pressuring commodity prices and forcing producers to shut-in a significant amount of production globally. The COVID-19 pandemic coupled with the recent customer responses to OPEC+ initiatives have resulted in immediate weakness in demand for our products and services. While Weatherford’s products and services continue to be in demand globally, the overall industry weakness has a significant impact on our short-term and long-term outlook and are expected to further constrain our ability to generate revenues, profits and cash flows resulting in a sudden negative impact to our liquidity profile. Additionally, between December 31, 2019 through March 31, 2020, our bond prices declined 44% and our ordinary share price has fallen 79% . In late March and early April 2020 credit rating agencies have downgraded our credit ratings, which may limit our ability to secure additional external funding. This significant and sudden change in the global business environment has increased the level of uncertainty in our business and has impacted various key stakeholders, including our employees, customers, suppliers and key lenders. The severity of these weak industry conditions has negatively impacted our results of operations and cash flows and we believe will continue to do so in the future. In response, we quickly increased and accelerated our workforce reduction plan, reduced certain management and employee pay, reduced other operating costs, and initiated further consolidation of our operations. However, even with our rapid and vast response and actions, given the material decline in our business as a result of the historic oversupply of hydrocarbons worldwide, we expect that a breach of our covenants under our ABL Revolving Credit Agreement is forthcoming. A breach of the financial covenants under our ABL Credit Agreement would constitute an event of default under our ABL Credit Agreement and if not cured or waived, would potentially constitute an event of default under our LC Credit Agreement and our unsecured Exit Notes. An event of default under these agreements could result in the obligations under these agreements being accelerated or cash collateralized . Either such result would constrain liquidity to the point where we would not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on the Company’s ability to continue as a going concern within the next 12 months. To address this sudden shortfall in liquidity resulting in significant capital structure constraints, we began discussions with holders of our unsecured 11% senior notes due 2024 (“Exit Notes”) with respect to a potential deleveraging or restructuring transaction. The Company cannot provide any assurances on if or when it will agree on the terms of or consummate any potential restructuring or deleveraging transactions. In addition, on May 6, 2020, the Company borrowed $100 million under its ABL Revolving Credit Agreement to strengthen its cash liquidity position. The actions taken by management to preserve liquidity and capital include the borrowing under our ABL Revolving Credit Agreement, reduction of capital expenditures, consolidation of product lines to eliminate redundancy, exiting from sub-scale locations and a higher level of headcount reductions. In addition, the precipitous decline in activity will ultimately result in a significant decline in our accounts receivable balance, particularly in North America, which comprises the most significant component of our credit facility borrowing base and will further impair our ability to comply with the covenants under the ABL Revolving Credit Agreement. Despite all the actions we have taken and are taking, we expect that a breach of our covenants under the ABL Revolving Credit Agreement is forthcoming. The combination of the unprecedented industry conditions, risks and uncertainties associated with the COVID-19 pandemic, lower activity levels and potential covenant breach, raises substantial doubt a bout our ability to continue as a going concern .

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Changes On January 1, 2020, we adopted Financial Accounting Standards Board Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss impairment methodology in previous U.S. GAAP with a methodology (Current Expected Credit Losses model, or CECL) that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The guidance requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The updated guidance applies to (i) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, and (ii) loan commitments and other off-balance sheet credit exposures. The adoption did not have a material impact on our Condensed Consolidated Financial Statements.

Accounts Receivable Factoring

Accounts Receivable Factoring	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Accounts Receivable Factoring	Accounts Receivable Factoring From time to time, we participate in factoring arrangements to sell accounts receivable to third-party financial institutions. Our factoring transactions in the Successor Period and Predecessor Period were recognized as sales, and the proceeds are included as operating cash flows in our Condensed Consolidated Statements of Cash Flows . The following table presents accounts receivable sold and cash proceeds from the sale of accounts receivable. The loss on sale of accounts receivable was immaterial in both the Successor and Predecessor periods. Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Accounts Receivable Sold $ 6 $ 84 Cash Proceeds from Sale of Accounts Receivable $ 6 $ 81

Inventories, Net

Inventories, Net	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories by category were as follows: (Dollars in millions) 3/31/2020 12/31/2019 Work in Process and Raw Materials, Components and Supplies $ 143 $ 142 Finished Goods 861 830 $ 1,004 $ 972

Business Combinations and Dives

Business Combinations and Divestitures	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Combinations and Divestitures	Business Combinations and Divestitures Acquisitions We did not have any acquisitions of businesses in the three months ended March 31, 2020 or 2019. We paid $12 million in March 2020 and an additional $12 million in April 2020 as deferred consideration associated with our acquisition of the remaining 50% equity interest in our Qatari joint venture which took place in the first quarter of 2018. Divestitures We did not have any significant dispositions of businesses in the three months ended March 31, 2020 . In the first quarter of 2019, we completed the final closings pursuant to the purchase and sale agreements entered into with ADES International Holding Ltd. related to agreements primarily to sell our land drilling rig operations in Algeria, Kuwait and Saudi Arabia for an aggregate purchase price of $287.5 million . We received gross proceeds of $72 million in the first quarter of 2019. The loss on the sale of land drilling rigs operations recognized in the first quarter of 2019 was $6 million and divested a carrying amount of $66 million

Long-Lived Asset Impairments an

Long-Lived Asset Impairments and Other Long-Lived Asset Impairments and Other	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Long-Lived Asset Impairments and Other	Long-lived Assets Impairment and Other As a result of the unprecedented industry conditions described in “ Note 1 – General ” which we identified as impairment indicators, we completed impairment assessments of our property, plant and equipment, definite-lived intangible assets, goodwill and right of use assets with the assistance of third-party valuation advisors. Based on our impairment test, we determined the carrying amount of certain long-lived assets exceeded their respective fair values. Therefore, during the three months ended March 31, 2020, we recorded total long-lived asset impairments of $640 million and $167 million of goodwill impairments. The fair value of our long-lived assets were based on discounted cash flow analysis or Level 3 fair values analysis. The unobservable inputs to the income approach included the assets’ estimated future cash flows, estimates of discount rates commensurate with the assets’ risks, revenue growth rates, profitability margins, and the remaining useful life of the primary asset. The table below details the Successor impairment charges by asset and segment: Three Months Ended March 31, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Property, Plant and Equipment $ 222 $ 208 $ 430 Intangible Assets 31 106 137 Right of Use Assets 49 24 73 Goodwill — 167 167 Total Impairment Charges $ 302 $ 505 $ 807 See Note 7 – Goodwill and Intangible Assets and Note 9 – Leases for further information. We had $229 million

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill We determined the unprecedented industry conditions described in “ Note 1 – General ” are triggering events in our qualitative goodwill assessment that required us to review the recoverability of our long-lived assets as discussed in “ Note 6 - Long-Lived Asset Impairments and Other ” and perform an interim quantitative goodwill assessment as of March 31, 2020. Our quantitative goodwill impairment assessment is based on discounted cash flow analysis and a multiples-based market approach for comparable companies in our industry, a Level 3 fair value analysis. The analysis includes significant judgments, including estimated future cash flows, estimates of discount rates, revenue growth rates, profitability margins and capital expenditures. Goodwill impairment occurs when the carrying amount of a reporting unit exceeds the fair value. For the three months ended March 31, 2020, based on our goodwill impairment assessment, we recognized goodwill impairment of $167 million , including $127 million in our Middle East & North Africa reporting unit and $40 million in our Russia reporting unit, which are both part of our Eastern Hemisphere segment. The changes in the carrying amount of goodwill by reporting segment at March 31, 2020 , are presented in the following table. (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Balance at December 31, 2019 $ — $ 239 $ 239 Impairment — (167 ) (167 ) Balance at March 31, 2020 $ — $ 72 $ 72 For the first quarter ended March 31, 2019, the Predecessor goodwill impairment tests indicated that goodwill for the North America reporting unit was impaired and as a result the Predecessor incurred a goodwill impairment charge of $229 million . The impairment indicators during the quarter was a result of lower activity levels and lower exploration and production capital spending that resulted in a decline in drilling activity and forecasted growth in North America. Intangible Assets The components of definite-lived intangible assets, net of accumulated amortization, were as follows: (Dollars in millions) 3/31/2020 12/31/2019 Developed and Acquired Technology $ 545 $ 721 Trade Names 383 393 Totals $ 928 $ 1,114 As of March 31, 2020, based on our impairment test, we recognized intangible asset impairments of $137 million of our developed and acquired technology. Amortization expense was $46 million for the three months ended March 31, 2020 and $16 million for the three months ended March 31, 2019 and is reported in Selling, General and Administrative on our Condensed Consolidated Statements of Operations . At March 31, 2020, accumulated amortization was $43 million for Developed and Acquired Technology and $12 million for Trade Names.

Restructuring, Facility Consoli

Restructuring, Facility Consolidation and Severance Charges	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring, Facility Consolidation and Severance Charges	Restructuring, Facility Consolidation and Severance Charges During the three months ended March 31, 2020, in response to the impact on our business from the COVID-19 pandemic and the sudden and significant decline in oil prices as discussed in “Note 1 – General” , we initiated additional immediate actions and developed plans to reduce our future cost structure. As a result, during the three months ended March 31, 2020, we recorded restructuring of $26 million . Additional charges with respect to our ongoing cost reduction actions are expected to be recorded in the second quarter of 2020 and could result in additional charges in future periods as we execute our plans. The following table presents restructuring charges for the Successor Period and Predecessor Period. Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Severance Charges $ 23 $ 2 Facility Consolidation and Other Charges 3 14 Asset Related Charges (non-cash) — 4 Total Restructuring Charges $ 26 $ 20 The following table presents total restructuring charges by reporting segment and Corporate for the Successor Period and Predecessor Period. (Dollars in millions) Western Hemisphere Eastern Hemisphere Corporate Total March 31, 2020 (Successor) $ 15 $ 6 $ 5 $ 26 March 31, 2019 (Predecessor) 5 5 10 20 The following table presents total restructuring accrual activity charges, payments and other changes for the Successor Period ended March 31, 2020. (Dollars in millions) Accrued Balance at Beginning of Period Charges Cash Payments Other Accrued Balance at End of Period March 31, 2020 (Successor) $ 66 $ 26 $ (17 ) $ (4 ) $ 71

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases We lease certain facilities, land, vehicles, and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet (including short-term sale leaseback transactions); we recognize lease expense for these leases on a straight-line basis over the lease term. Operating right of use (“ROU”) assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. The unmanned equipment that we lease to customers as operating leases consists primarily of drilling rental tools and artificial lift pumping equipment. These equipment rental revenues are generally provided based on call-out work orders that include fixed per unit prices and are derived from short-term contracts. See “ Note 15 – Revenues ” for additional details on our equipment rental revenues. Finance leases are recorded net of $3 million in accumulated amortization as of March 31, 2020 . As a result of the unprecedented industry conditions described in “ Note 1 – General ”, we impaired our right of use assets by $73 million to their respective fair values in the three months ended March 31, 2020, as also summarized at “ Note 6 - Long-Lived Asset Impairments and Other ”. (Dollars in millions) Classification 3/31/2020 12/31/2019 Balance Sheet Components: Assets Operating Other Non-Current Assets $ 172 $ 256 Finance Property Plant and Equipment, Net 62 62 Total lease assets $ 234 $ 318 Liabilities Current Operating Other Current Liabilities $ 79 $ 79 Finance Short-term Borrowings and Current Portion of Long-term Debt 11 10 Non-Current Operating Other Non-Current Liabilities 196 213 Finance Long-term Debt 52 54 Total lease liabilities $ 338 $ 356 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Lease Expense Components: Operating lease expense $ 24 $ 30 Short-term and variable lease expense 22 20 Finance lease expense: Amortization of ROU assets and interest on lease liabilities 4 3 Sublease income (1 ) (2 ) Total lease expense $ 49 $ 51 Operating Finance (Dollars in millions) Leases Leases Maturity of Lease Liabilities as of March 31, 2020: Remainder of 2020 $ 76 $ 12 2021 83 13 2022 57 11 2023 31 11 2024 23 11 After 2024 138 25 Total Lease Payments 408 83 Less: Interest 133 20 Present Value of Lease Liabilities $ 275 $ 63 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions except years and percentages) 3/31/2020 3/31/2019 Other Supplemental Information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 28 $ 32 Operating cash outflows from finance leases $ 1 $ 1 Financing cash outflows from finance leases $ 2 $ 2 ROU assets obtained in exchange of new operating lease liabilities $ 19 $ 19 ROU assets obtained in exchange of new finance lease liabilities $ 2 $ — Loss on sale leaseback transactions (short-term) (a) $ — $ 36 Weighted-average remaining lease term (years) Operating leases 7.7 6.7 Finance leases 6.4 7.9 Weighted-average discount rate (percentages) Operating leases 9.2 % 13.1 % Finance leases 9.1 % 5.6 % (a) Included in “Restructuring, Asset Impairments and Other” of our Condensed Consolidated Statements of Operations and “Other Net Income Adjustments” of our Condensed Consolidated Statements of Cash Flows .
Leases	Leases We lease certain facilities, land, vehicles, and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet (including short-term sale leaseback transactions); we recognize lease expense for these leases on a straight-line basis over the lease term. Operating right of use (“ROU”) assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. The unmanned equipment that we lease to customers as operating leases consists primarily of drilling rental tools and artificial lift pumping equipment. These equipment rental revenues are generally provided based on call-out work orders that include fixed per unit prices and are derived from short-term contracts. See “ Note 15 – Revenues ” for additional details on our equipment rental revenues. Finance leases are recorded net of $3 million in accumulated amortization as of March 31, 2020 . As a result of the unprecedented industry conditions described in “ Note 1 – General ”, we impaired our right of use assets by $73 million to their respective fair values in the three months ended March 31, 2020, as also summarized at “ Note 6 - Long-Lived Asset Impairments and Other ”. (Dollars in millions) Classification 3/31/2020 12/31/2019 Balance Sheet Components: Assets Operating Other Non-Current Assets $ 172 $ 256 Finance Property Plant and Equipment, Net 62 62 Total lease assets $ 234 $ 318 Liabilities Current Operating Other Current Liabilities $ 79 $ 79 Finance Short-term Borrowings and Current Portion of Long-term Debt 11 10 Non-Current Operating Other Non-Current Liabilities 196 213 Finance Long-term Debt 52 54 Total lease liabilities $ 338 $ 356 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Lease Expense Components: Operating lease expense $ 24 $ 30 Short-term and variable lease expense 22 20 Finance lease expense: Amortization of ROU assets and interest on lease liabilities 4 3 Sublease income (1 ) (2 ) Total lease expense $ 49 $ 51 Operating Finance (Dollars in millions) Leases Leases Maturity of Lease Liabilities as of March 31, 2020: Remainder of 2020 $ 76 $ 12 2021 83 13 2022 57 11 2023 31 11 2024 23 11 After 2024 138 25 Total Lease Payments 408 83 Less: Interest 133 20 Present Value of Lease Liabilities $ 275 $ 63 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions except years and percentages) 3/31/2020 3/31/2019 Other Supplemental Information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 28 $ 32 Operating cash outflows from finance leases $ 1 $ 1 Financing cash outflows from finance leases $ 2 $ 2 ROU assets obtained in exchange of new operating lease liabilities $ 19 $ 19 ROU assets obtained in exchange of new finance lease liabilities $ 2 $ — Loss on sale leaseback transactions (short-term) (a) $ — $ 36 Weighted-average remaining lease term (years) Operating leases 7.7 6.7 Finance leases 6.4 7.9 Weighted-average discount rate (percentages) Operating leases 9.2 % 13.1 % Finance leases 9.1 % 5.6 % (a) Included in “Restructuring, Asset Impairments and Other” of our Condensed Consolidated Statements of Operations and “Other Net Income Adjustments” of our Condensed Consolidated Statements of Cash Flows .

Borrowings and Other Obligation

Borrowings and Other Obligations	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Borrowings and Other Obligations	Borrowings and Other Obligations (Dollars in millions) 3/31/2020 12/31/2019 Finance Lease Current Portion $ 11 $ 10 Other Short-term Loans 15 3 Short-term Borrowings $ 26 $ 13 Long-term Debt $ 2,149 $ 2,151 Credit Agreements ABL Credit Agreement On December 13, 2019, the Company entered into a senior secured asset-based revolving credit agreement in an aggregate amount of $450 million (the “ABL Credit Agreement ” ) with the lenders party thereto and Wells Fargo Bank, N.A. as administrative agent. Among other things, proceeds of loans under the ABL Credit Agreement may be used to finance ongoing working capital and general corporate needs of the Company and certain of its subsidiaries. The facility may also be used for issuing letters of credit. The maturity date of loans made under the ABL Credit Agreement is June 13, 2024. At March 31, 2020 , the Company did no t have any borrowings under the ABL Credit Agreement, had approximately $235 million borrowing availability under the facility and had utilized $140 million related to letters of credit issued. On May 6, 2020, the Company borrowed $100 million under its ABL Revolving Credit Agreement to strengthen its cash liquidity position. The applicable terms, interest rates and fees for borrowings under the ABL Credit Agreement are the same as those presented in “Note 13 – Short-Term Borrowings and other Debt Obligations” in our 2019 Annual Report. LC Credit Agreement On December 13, 2019, the Company entered into a senior secured letter of credit agreement in an aggregate amount of $195 million (the “LC Credit Agreement,” together with the ABL Credit Agreement, the “Exit Credit Agreements”) with the lenders party thereto and Deutsche Bank Trust Company Americas as administrative agent. The LC Credit Agreement is used for the issuance of bid and performance letters of credit of the Company and certain of its subsidiaries. The maturity date under the LC Credit Agreement is June 13, 2024. At March 31, 2020, the Company had approximately $120 million in outstanding letters of credit under the LC Credit Agreement. The applicable terms, interest rates and fees for borrowings under the LC Credit Agreement are the same as those presented in “Note 13 – Short-Term Borrowings and other Debt Obligations” in our 2019 Annual Report. As of March 31, 2020 , we were in compliance with these financial covenants as defined in the Exit Credit Agreements and in the covenants under our indentures. However, the full impact that the pandemic and the precipitous decline in oil prices will have on our results of operations, financial condition, liquidity and cash flows is uncertain. The actions taken by management to preserve liquidity and capital include the borrowing under our ABL Revolving Credit Agreement, reduction of capital expenditures, consolidation of product lines to eliminate redundancy, exiting from sub-scale locations and a higher level of headcount reductions. In addition, the precipitous decline in activity will ultimately result in a significant decline in our accounts receivable balance, particularly in North America, which comprises the most significant component of our credit facility borrowing base and will further impair our ability to comply with the covenants under the ABL Revolving Credit Agreement. Despite all the actions we have taken and are taking, we expect that a breach of our covenants under the ABL Revolving Credit Agreement is forthcoming. A breach of the financial covenants under our ABL Credit Agreement would constitute an event of default under our ABL Credit Agreement and if not cured or waived, would potentially constitute an event of default under our LC Credit Agreement and our unsecured Exit Notes. An event of default under these agreements could result in the obligations under these agreements being accelerated or cash collateralized . Either such result would constrain liquidity to the point where we would not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on the Company’s ability to continue as a going concern within the next 12 months. See “Note1 - General” for further details. Other Short-term Arrangements and Debt Activity We have short-term borrowings with various domestic and international institutions pursuant to uncommitted credit facilities and other financing arrangements. At March 31, 2020 , we had $15 million in short-term borrowings under these arrangements. As of March 31, 2020 , we had $361 million of letters of credit and performance and bid bonds outstanding, consisting of $140 million of letters of credit under the ABL Credit Agreement, $120 million of letters of credit under the LC Credit Agreement and $101 million of letters of credit under various uncommitted facilities. At March 31, 2020 , we had cash collateral of $91 million , included in Restricted Cash supporting letters of credit under our various uncommitted facilities. Long-term Debt On December 13, 2019, we issued unsecured 11.00% senior notes due in 2024 (“Exit Notes “) in an aggregate principal amount of $2.1 billion . Interest on the Exit Notes accrues at the rate of 11.00% per annum and will be payable semiannually in arrears on June 1 and December 1, commencing on June 1, 2020. The Exit Notes mature on December 1, 2024. The indenture governing the Exit Notes contains covenants that limit, among other things, the Company’s ability and the ability of certain of its subsidiaries, to: incur, assume or guarantee additional indebtedness; pay dividends or distributions on capital stock or redeem or repurchase capital stock; make investments; sell stock of its subsidiaries; transfer or sell assets; create liens; enter into transactions with affiliates; and enter into mergers or consolidations. At March 31, 2020, we are in compliance with our indenture covenants. However, as noted above, a breach under the ABL Revolving Credit Agreement that is not cured or waived, could trigger an event of default under our unsecured Exit Notes. Fair Value of Short and Long-term Borrowings The carrying value of our short-term borrowings approximates their fair value due to their short maturities. These short-term borrowings are classified as Level 2 in the fair value hierarchy. The fair value of our long-term debt fluctuates with changes in applicable interest rates among other factors. Fair value will exceed carrying value when the current market interest rate is lower than the interest rate at which the debt was originally issued and will be less than the carrying value when the market rate is greater than the interest rate at which the debt was originally issued. The fair value of our long-term debt is classified as Level 2 in the fair value hierarchy and is established based on observable inputs in less active markets. (Dollars in millions) 3/31/2020 12/31/2019 Fair Value $ 1,260 $ 2,252 Carrying Value 2,098 2,097 The total fair value of our debt decreased significantly during the first quarter of 2020, primarily due to the negative impact on our business and industry associated with the COVID-19 pandemic, OPEC+ disagreements and credit rating agency downgrades as described in “ Note 1 – General

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our assets and liabilities measured at fair value on a recurring basis consists solely of our derivative instruments. We monitor the creditworthiness of our counterparties, which are multinational commercial banks. The fair values of all our outstanding derivative instruments are determined using a model with Level 2 inputs including quoted market prices for contracts with similar terms and maturity dates. Our derivative activity is not material to our financial statements. Our other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, held-to-maturity investments, short-term borrowings and long-term debt. Except for short-term borrowings and long-term debt, the estimated fair value of these financial instruments approximates their carrying values as reflected in our Condensed Consolidated Financial Statements. The fair value of our short-term and long-term borrowings are discussed in “ Note 10 – Borrowings and Other Obligations .” As of March 31, 2020 , and December 31, 2019 , we have $50 million in total of held-to-maturity Angolan government bonds primarily maturing in the third and fourth quarters of 2020. The carrying value of $50 million in both periods approximate their fair value as of March 31, 2020 and December 31, 2019

Disputes, Litigation and Contin

Disputes, Litigation and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Disputes, Litigation and Contingencies	Disputes, Litigation and Legal Contingencies We are subject to lawsuits and claims arising out of the nature of our business. W e have certain claims, disputes and pending litigation for which we do not believe a negative outcome is probable or for which we can only estimate a range of liability. It is possible, however, that an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, that would result in a liability that could be uninsured and beyond the amounts we currently have reserved and in some cases those losses could be material. If one or more negative outcomes were to occur relative to these cases, the aggregate impact to our financial condition could be material. Due to the COVID-19 pandemic, courts in many jurisdictions around the world have been temporarily closed for trials and hearings, which has resulted in delays in many of the Company’s litigation matters. Accrued litigation and settlements recorded in “Other Current Liabilities” on the accompanying Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 were $40 million and $44 million , respectively. Shareholder Litigation GAMCO Shareholder Litigation On September 6, 2019, GAMCO Asset Management, Inc. (“GAMCO”), purportedly on behalf of itself and other, similarly situated shareholders, filed a lawsuit asserting violations of the federal securities laws against certain then current and former officers and directors of the Company. GAMCO alleges violations of Sections 10(b) and 20(b) of the Securities Exchange Act of 1934, and violations of Sections 11 and 15 of the Securities Act of 1933, as amended (the “Securities Act”) based on allegations that the Company and certain of its officers made false and/or misleading statements, and alleged non-disclosure of material facts, regarding the Company’s business, operations, prospects and performance. GAMCO seeks damages on behalf of purchasers of the Company’s ordinary shares from October 26, 2016 through May 10, 2019. GAMCO’s lawsuit was filed in the United States District Court for the Southern District of Texas, Houston Division, and it is captioned GAMCO Asset Management, Inc. v. McCollum, et al., Case No. 4:19-cv-03363. The District Court Judge appointed Utah Retirement Systems (“URS”) as Lead Plaintiff, and on March 16, 2020, URS filed its Amended Complaint. URS added the Company as a defendant but dropped the claims against non-officer board members and all the claims under the Securities Act. The defendants’ motion to dismiss is due on May 18, 2020. We cannot reliably predict the outcome of GAMCO’s claims, including the amount of any possible loss. Prior Shareholder Litigation In 2010, three shareholder derivative actions were filed, and in 2014 a fourth shareholder derivative action was filed, purportedly on behalf of the Company, asserting breach of duty and other claims against certain then-current and former officers and directors of the Company related to the United Nations oil-for-food program governing sales of goods into Iraq, the Foreign Corrupt Practices Act of 1977 and trade sanctions related to the U.S. government investigations disclosed in our SEC filings since 2007. Those shareholder derivative cases were filed in Harris County, Texas state court and consolidated under the caption Neff v. Brady, et al. , No. 2010040764 (collectively referred to as the “ Neff Case ”). A motion to dismiss was granted May 15, 2015, and an appeal was filed on June 15, 2015. Following briefing and oral argument, on June 29, 2017, the Texas Court of Appeals denied in part and granted in part the shareholders’ appeal. The Court ruled that the shareholders lacked standing to bring claims that arose prior to the Company’s redomestication to Switzerland in 2009 and upheld the dismissal of those claims. The Court reversed as premature the trial court’s dismissal of claims arising after the redomestication and remanded to the trial court for further proceedings. On February 1, 2018, the individual defendants and nominal defendant Weatherford filed a motion for summary judgment on the remaining claims in the case. On February 13, 2018, the trial court dismissed with prejudice certain directors for lack of jurisdiction. Although the plaintiffs appealed the jurisdictional ruling, they agreed in April 2020 to dismiss the appeal. Once the appeal is dismissed, this litigation will be concluded. Rapid Completions and Packers Plus Litigation Several subsidiaries of the Company are defendants in a patent infringement lawsuit filed by Rapid Completions LLC (“RC”) in U.S. District Court for the Eastern District of Texas on July 31, 2015. RC claimed that we and other defendants were liable for infringement of seven U.S. patents related to specific downhole completion equipment and the methods of using such equipment. These patents were assigned to Packers Plus Energy Services, Inc., a Canadian corporation (“Packers Plus”), and purportedly exclusively licensed to RC. RC sought a permanent injunction against further alleged infringement, unspecified damages for infringement, supplemental and enhanced damages, and additional relief such as attorneys’ fees. The Company filed a counterclaim against Packers Plus, seeking declarations of non-infringement, invalidity, and unenforceability of the four patents that remained asserted against the Company on the grounds of inequitable conduct. The Company is seeking attorneys’ fees and costs incurred in the lawsuit. The litigation was stayed, pending resolution of inter partes reviews (“IPR”) of each of the four patents before the Patent Trial and Appeal Board (“PTAB”) of the U.S. Patent and Trademark Office (“USPTO”). The PTAB issued decisions finding that all the claims of the asserted patents challenged by the Company in the IPRs were invalid. RC appealed those decisions to the Federal Circuit, which issued a decision affirming the PTAB’s decision that the patents are invalid. Apart from the Company’s potential claim for inequitable conduct against Packers Plus, the litigation in the U.S. has concluded. On October 14, 2015, Packers Plus and RC filed suit in Federal Court in Toronto, Canada against the Company and certain subsidiaries alleging infringement of a related Canadian patent and seeking unspecified damages and an accounting of the Company’s profits. Trial on the validity of the Canadian patent was completed in March 2017. On November 3, 2017, the Federal Court issued its decision, wherein it concluded that the defendants proved that the patent-in-suit was invalid and dismissed Packers Plus and RC’s claims of infringement. On January 5, 2018, Packers Plus and RC filed their Notice of Appeal. The appeal was dismissed in favor of Weatherford. Packers Plus and RC filed an Application for Leave to the Supreme Court of Canada requesting that the Supreme Court hear their appeal from the appellate court’s decision, but the Supreme Court dismissed the Application, thus concluding the litigation.

Shareholders' Equity (Deficienc

Shareholders' Equity (Deficiency)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Shareholders' Equity (Deficiency)	Shareholders’ Equity (Deficiency) The following summarizes our shareholders’ equity (deficiency) activity for the three months ended March 31, 2020 and 2019 . (Dollars in Millions) Par Value of Issued Shares Capital in Excess of Par Value Retained Deficit Accumulated Non-controlling Interests Total Shareholders’ Equity (Deficiency) Balance at December 31, 2019 (Successor) $ — $ 2,897 $ (26 ) $ 9 $ 36 $ 2,916 Net Income (Loss) — — (966 ) — 8 (958 ) Other Comprehensive Loss — — — (95 ) — (95 ) Balance at March 31, 2020 (Successor) $ — $ 2,897 $ (992 ) $ (86 ) $ 44 $ 1,863 Balance at December 31, 2018 (Predecessor) $ 1 $ 6,711 $ (8,671 ) $ (1,746 ) $ 39 $ (3,666 ) Net Income (Loss) — — (481 ) — 4 (477 ) Other Comprehensive Income — — — 33 — 33 Dividends Paid to Noncontrolling Interests — — — — (5 ) (5 ) Equity Awards Granted, Vested and Exercised — 8 — — — 8 Other — — — — 1 1 Balance at March 31, 2019 (Predecessor) 1 6,719 (9,152 ) (1,713 ) 39 (4,106 ) The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 for the Successor and three months ended March 31, 2019 for the Predecessor: (Dollars in millions) Currency Translation Adjustment Defined Benefit Pension Deferred Loss on Derivatives Total Balance at December 31, 2019 (Successor) $ 7 $ 2 $ — $ 9 Other Comprehensive Loss $ (95 ) $ — $ — $ (95 ) Balance at March 31, 2020 (Successor) $ (88 ) $ 2 $ — $ (86 ) Balance at December 31, 2018 (Predecessor) $ (1,724 ) $ (14 ) $ (8 ) $ (1,746 ) Other Comprehensive Income 33 — — 33 Balance at March 31, 2019 (Predecessor) $ (1,691 ) $ (14 ) $ (8 ) $ (1,713 )

Loss per Share

Loss per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Loss per Share	Loss 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 for the three months ended March 31, 2020 and 2019 : Successor Predecessor Three Months Ended Three Months Ended (Dollars and shares in millions, except per share amounts) 3/31/2020 3/31/2019 Net Loss Attributable to Weatherford $ (966 ) $ (481 ) Basic and Diluted weighted average shares outstanding 70 1,003 Basic and Diluted Loss Per Share Attributable to Weatherford $ (13.80 ) $ (0.48 ) Our basic and diluted weighted average shares outstanding for the Successor Period and Predecessor Period are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the Successor Period and Predecessor Period exclude 8 million and 250 million , respectively, potential ordinary shares for restricted share units, performance units, exchangeable senior notes and warrants outstanding as we have net losses for those periods and their inclusion would be anti-dilutive.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue by Product Line and Geographic Region The following tables disaggregate our product and service revenues from contracts with customers by major product line and geographic region for the three months ended March 31, 2020 and 2019. Equipment rental revenues recognized under ASC 842 was $57 million in the Successor Period and $78 million in the Predecessor Period, which are included in the tables below. Successor Three Months Ended March 31, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Revenues Product Lines: Production $ 257 $ 96 $ 353 Completions 109 205 314 Drilling and Evaluation 113 168 281 Well Construction 109 158 267 Total $ 588 $ 627 $ 1,215 Predecessor Three Months Ended March 31, 2019 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Revenues Product Lines: Production $ 299 $ 100 $ 399 Completions 133 173 306 Drilling and Evaluation 152 184 336 Well Construction 142 163 305 Total $ 726 $ 620 $ 1,346 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Geographic Areas: North America $ 341 $ 456 Latin America 247 270 Western Hemisphere 588 726 Middle East & North Africa and Asia 403 390 Europe/Sub-Sahara Africa/Russia 224 230 Eastern Hemisphere 627 620 Total Revenues $ 1,215 $ 1,346 Total revenues in the United States, part of our Western Hemisphere segment, were $274 million in the Successor Period and $373 million in the Predecessor Period. Contract Balances The following table provides information about receivables for product and services included in “Accounts Receivable, Net” at March 31, 2020 and December 31, 2019 . (Dollars in millions) 3/31/2020 12/31/2019 Receivables for Product and Services in Accounts Receivable, Net $ 1,124 $ 1,156 Changes in the contract assets and liabilities balances during the three months ended March 31, 2020 are as follows: (Dollars in millions) Contract Assets Contract Liabilities Balance at December 31, 2019 $ 3 $ 12 Revenue recognized that was included in the deferred revenue balance at the beginning of the period — (4 ) Increase due to consideration received, net of amount recognized as revenue during the period — 12 Increase due to revenue recognized during the period but contingent on future performance 1 — Transferred to receivables from contract assets recognized at the beginning of the period (2 ) — Adjustments due to changes in estimates, contract modifications or other — 10 Balance at March 31, 2020 $ 2 $ 30 In the following table, estimated revenue expected to be recognized in the future related to performance obligations that are either unsatisfied or partially unsatisfied as of March 31, 2020 primarily relate to subsea services and an artificial lift contract. (Dollars in millions) 2020 2021 2022 2023 Thereafter Total Service Revenue $ 40 $ 25 $ 32 $ 32 $ 32 $ 161

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We use the discrete method to determine our quarterly tax provision because small changes in estimated ordinary annual income result in significant changes in our estimated annual effective tax rate. The discrete method treats the year-to-date period as if it was the annual period and determines the income tax expense or benefit on that basis. For the three months ended March 31, 2020 , we recognized tax expense of $44 million on a loss before income taxes of $914 million as compared to the three months ended March 31, 2019 where we recognized tax expense of $12 million on a loss before income taxes of $465 million . Tax expense for the three months ended March 31, 2020 includes $20 million to recognize valuation allowance in jurisdictions where we are no longer able to forecast taxable income. Tax expense for the three months ended March 31, 2020 and 2019 also includes withholding taxes, minimum taxes and deemed profit taxes that do not directly correlate to ordinary income or loss. Impairments and other charges did not result in significant tax benefit in either period. We are routinely under tax examination in various jurisdictions. We cannot predict the timing or outcome regarding resolution of these tax examinations or if they will have a material impact on our financial statements. As of March 31, 2020 , we anticipate that it is reasonably possible that our uncertain tax positions of $214 million may decrease by up to $3 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations. In response to the COVID-19 pandemic, many countries have enacted or are contemplating tax relief measures to provide aid and economic stimulus to companies impacted by the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was enacted on March 27, 2020 in the U.S., includes similar measures to assist individuals and companies that are most affected in the US. These measures may include deferring the due dates of tax payments or other temporary changes to their income and non-income-based tax laws. We are taking advantage of the tax payments deferral in the jurisdictions where available. For the three months ended March 31, 2020, there were no material tax impacts to our financial statements as it relates to COVID-19 measures. We continue to monitor additional legislation and guidance issued by government authorities around the world.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information 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. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2019 Annual Report. Successor Three Months Ended March 31, 2020 (Dollars in millions) Revenues Income (Loss) from Operations Depreciation and Amortization Western Hemisphere $ 588 $ 29 $ 47 Eastern Hemisphere 627 18 109 Total 1,215 47 156 Corporate (26 ) 1 Long-lived Asset Impairments (a) (640 ) Goodwill Impairment (167 ) Restructuring and Other Charges (36 ) Total $ 1,215 $ (822 ) $ 157 (a) Includes the impairment on property, plant and equipment, intangibles and right of use assets. Predecessor Three Months Ended March 31, 2019 (Dollars in millions) Revenues Income (Loss) from Operations Depreciation and Amortization Western Hemisphere $ 726 $ 9 $ 48 Eastern Hemisphere 620 20 72 1,346 29 120 Corporate (32 ) 3 Goodwill Impairment (229 ) Restructuring and Other Charges (b) (69 ) Total $ 1,346 $ (301 ) $ 123 (b) Includes the loss on disposition of assets and businesses, prepetition charges, other fees and asset impairments, partially offset by a reduction of a contingency reserve on a legacy contract.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company,” or “Weatherford”) are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC for interim financial information. Accordingly, certain information and disclosures normally included in our annual financial statements have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with our audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Annual Report”). In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state our results of operations, financial position and cash flows of the Company and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. The Company’s financial statements have been prepared on a consolidated basis. Under this basis, our financial statements consolidate all wholly owned subsidiaries and controlled joint ventures. All intercompany accounts and transactions have been eliminated. Summary of Significant Accounting Policies Please refer to “Note 1 – Summary of Significant Accounting Policies” of our Consolidated Financial Statements from our 2019 Annual Report for the discussion on our significant accounting policies. Certain reclassifications of the financial statements and accompanying footnotes for the three months ended March 31, 2019 have been made to conform to the presentation for the three months ended March 31, 2020 . As described in “Note 1 – Summary of Significant Accounting Policies”, “Note 2 – Emergence from Bankruptcy Proceedings”, and “Note 3 – Fresh Start Accounting” of our Consolidated Financial Statements from our 2019 Annual Report, we filed voluntary petitions for bankruptcy on July 1, 2019, then emerged from bankruptcy on December 13, 2019 and adopted fresh-start accounting upon emergence. References to “Predecessor” herein relate to the Condensed Consolidated Statements of Operations for the period ended March 31, 2019 (“Predecessor Period”). References to “Successor” herein relate to the Condensed Consolidated Balance Sheets of the reorganized Company as of March 31, 2020 and December 31, 2019 and the Condensed Consolidated Statements of Operations for the three months ended March 31, 2020 (“Successor Period”) and are not comparable to the Consolidated Financial Statements of the Predecessor as indicated by the “black line” division in the financials and footnote tables, which emphasizes the lack of comparability between amounts presented. The Company’s financial results for future periods will be different from historical trends and the differences may be material.
Principles of Consolidation	In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary by management to fairly state our results of operations, financial position and cash flows of the Company and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. The Company’s financial statements have been prepared on a consolidated basis. Under this basis, our financial statements consolidate all wholly owned subsidiaries and controlled joint ventures. All intercompany accounts and transactions have been eliminated.
Reclassifications	Summary of Significant Accounting Policies Please refer to “Note 1 – Summary of Significant Accounting Policies” of our Consolidated Financial Statements from our 2019 Annual Report for the discussion on our significant accounting policies. Certain reclassifications of the financial statements and accompanying footnotes for the three months ended March 31, 2019 have been made to conform to the presentation for the three months ended March 31, 2020 .
Impact of COVID-19 and Oil Price Declines on Our Operations and Liquidity	Impact of COVID-19 and Oil Price Declines on Our Operations and Liquidity Throughout the first quarter of 2020, multiple events have created significant uncertainty for the trajectory of the industry and the Company, lowering expectations of oil and gas related spending throughout the remainder of 2020 and beyond. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. In response, national and local governments imposed rapidly evolving social distancing guidelines, travel restrictions and stay-at-home orders that caused a significant decrease in activity in the global economy and the demand for oil and gas which negatively impacted the price of oil and gas. By the end of March, t he spread of COVID-19 eventually caused most countries to implement lock-down or shelter-in-place measures. This has caused a demand destruction for hydrocarbons, causing unprecedented dislocations throughout the industry. These measures have negatively impacted, and will continue to have near-term and long-term impacts, on our ability to operate effectively, including operational and manufacturing disruptions such as a lack of availability of key components from our suppliers, customer restrictions that prevent us access to their sites and changes to Weatherford’s policies that have restricted the way our employees work. Compounding the collapse in global demand for oil brought about by the COVID-19 lock-downs across the world, in March 2020, members of the Organization of the Petroleum Exporting Countries and ten other oil producing countries (“OPEC+”) met to discuss how to respond to the potential market effects of the global COVID-19 pandemic. The meeting ended on March 6, 2020, as Saudi Arabia failed to convince Russia to reduce production to offset falling demand due to slowing economic activity resulting from the global COVID-19 pandemic. In response to Russia’s refusal to accept the production cut, Saudi Arabia announced an immediate reduction in its export prices and Russia announced that all previously agreed oil production cuts would expire on April 1, 2020. These actions flooded the global market with an oversupply of oil. As a result, the price of oil and gas further declined and available worldwide storage was nearing capacity, which is further pressuring commodity prices and forcing producers to shut-in a significant amount of production globally. In early April 2020, in response to significantly depressed global oil prices, certain countries, led by Saudi Arabia, Russia and the United States, committed to implement reductions in world oil production. However, the price of oil and gas has not recovered to date and recovery is not expected in the near term. Worldwide economic activity is falling sharply, and oil demand destruction is leading to an unprecedented supply-demand imbalance in the range of 20-30 million barrels per day . Moreover, once the supply and demand equation re-balances, it is unclear when a stable oil market will return as record crude inventories will dampen the pace of any recovery, translating to near-term uncertainties in activity and challenges in forecasting our business. The imbalance between supply and demand for oil created by simultaneous impacts of the COVID-19 pandemic and recent actions by certain OPEC+ nations, together with uncertainty around the extent and timing for an economic recovery, have caused extreme market volatility and resulted in a precipitous decline in commodity prices during March 2020 and April 2020 and substantial reductions to the capital spending plans of exploration and production companies. This has resulted in, and is expected to continue to result in, weakened demand for our products and services through the remainder of 2020 and, potentially, 2021. As a result, our financial results for the first quarter of 2020, and our outlook for the remainder of the year, have been materially and negatively impacted. In addition, we also anticipate substantial constraints on our ability to generate revenues, profits and cash flows and to maintain adequate liquidity. We currently expect a multi-year (2020 to 2021 and beyond) dislocation across the industry, with the quickest and deepest impacts to be felt across North America, followed by certain international markets such as Europe, Latin America and Sub Saharan Africa. Entering 2020, we were already taking a number of actions that were yielding improvements in our cost structure. However, given current developments, we are now implementing more aggressive actions to right-size our business to address current market conditions. At March 31, 2020, we had adequate liquidity and were compliant with our financial covenants under the agreements governing our outstanding indebtedness. However, our rapidly changing operating environment has led to an inability to predict the ultimate length and depth of the adverse economic impact from the COVID-19 pandemic and uncertainty in the global oil markets on our industry and the Company, though the effects have been, and are expected to continue to be, significant. In this backdrop, given the material decline in our business as a result of the historic oversupply of hydrocarbons worldwide, we expect that a breach of our covenants under our ABL Revolving Credit Agreement is forthcoming. A breach of the financial covenants under our ABL Credit Agreement would constitute an event of default under our ABL Credit Agreement and if not cured or waived, would potentially constitute an event of default under our LC Credit Agreement and our unsecured Exit Notes. An event of default under these agreements could result in the obligations under these agreements being accelerated or cash collateralized . Either such result would constrain liquidity to the point where we would not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on the Company’s ability to continue as a going concern within the next 12 months. As a result, our management and the Board of Directors are evaluating options to improve liquidity and address the Company’s long-term capital structure. To address this expected shortfall in liquidity and capital structure constraints, we are in discussions with holders of our unsecured senior notes with respect to potential deleveraging or restructuring transactions. The Company cannot provide any assurances if or when it will agree on the terms of or consummate any potential restructuring or deleveraging transactions.
Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern	Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern The significant uncertainty on the long-term impacts of the COVID-19 pandemic in general, the global economy, and the oil and gas industry for 2020 and beyond is having a substantial negative impact on our business. The global impacts surrounding the COVID-19 pandemic discussed above, including operational and manufacturing disruptions, logistical constraints and travel restrictions, are rapidly evolving and dynamic. We have experienced and expect to continue to experience actions that will negatively impact our ability to operate, including delays or a lack of availability of key components from our suppliers, customer restrictions that prevents access to their sites, community measures to contain the spread of the virus, and changes to Weatherford’s policies that have restricted the way our employees work. We expect most, if not all, of these disruptions and constraints to have lasting effects on how we and our customers and suppliers work in the future. The demand destruction associated with the COVID-19 pandemic and recent actions by OPEC+ have caused commodity prices to plunge precipitously and correspondingly, substantial activity declines in the industry. Further, actions by certain members of OPEC+ and its partners significantly disrupted the supply/demand equation, resulting in unprecedented commodity price weakness, significant reductions to the capital spending plans of our customers and uncertainty of when a stable oil market returns. Global storage for crude is on the verge of reaching capacity, further pressuring commodity prices and forcing producers to shut-in a significant amount of production globally. The COVID-19 pandemic coupled with the recent customer responses to OPEC+ initiatives have resulted in immediate weakness in demand for our products and services. While Weatherford’s products and services continue to be in demand globally, the overall industry weakness has a significant impact on our short-term and long-term outlook and are expected to further constrain our ability to generate revenues, profits and cash flows resulting in a sudden negative impact to our liquidity profile. Additionally, between December 31, 2019 through March 31, 2020, our bond prices declined 44% and our ordinary share price has fallen 79% . In late March and early April 2020 credit rating agencies have downgraded our credit ratings, which may limit our ability to secure additional external funding. This significant and sudden change in the global business environment has increased the level of uncertainty in our business and has impacted various key stakeholders, including our employees, customers, suppliers and key lenders. The severity of these weak industry conditions has negatively impacted our results of operations and cash flows and we believe will continue to do so in the future. In response, we quickly increased and accelerated our workforce reduction plan, reduced certain management and employee pay, reduced other operating costs, and initiated further consolidation of our operations. However, even with our rapid and vast response and actions, given the material decline in our business as a result of the historic oversupply of hydrocarbons worldwide, we expect that a breach of our covenants under our ABL Revolving Credit Agreement is forthcoming. A breach of the financial covenants under our ABL Credit Agreement would constitute an event of default under our ABL Credit Agreement and if not cured or waived, would potentially constitute an event of default under our LC Credit Agreement and our unsecured Exit Notes. An event of default under these agreements could result in the obligations under these agreements being accelerated or cash collateralized . Either such result would constrain liquidity to the point where we would not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on the Company’s ability to continue as a going concern within the next 12 months. To address this sudden shortfall in liquidity resulting in significant capital structure constraints, we began discussions with holders of our unsecured 11% senior notes due 2024 (“Exit Notes”) with respect to a potential deleveraging or restructuring transaction. The Company cannot provide any assurances on if or when it will agree on the terms of or consummate any potential restructuring or deleveraging transactions. In addition, on May 6, 2020, the Company borrowed $100 million under its ABL Revolving Credit Agreement to strengthen its cash liquidity position. The actions taken by management to preserve liquidity and capital include the borrowing under our ABL Revolving Credit Agreement, reduction of capital expenditures, consolidation of product lines to eliminate redundancy, exiting from sub-scale locations and a higher level of headcount reductions. In addition, the precipitous decline in activity will ultimately result in a significant decline in our accounts receivable balance, particularly in North America, which comprises the most significant component of our credit facility borrowing base and will further impair our ability to comply with the covenants under the ABL Revolving Credit Agreement. Despite all the actions we have taken and are taking, we expect that a breach of our covenants under the ABL Revolving Credit Agreement is forthcoming. The combination of the unprecedented industry conditions, risks and uncertainties associated with the COVID-19 pandemic, lower activity levels and potential covenant breach, raises substantial doubt a bout our ability to continue as a going concern . The consolidated financial statements have been prepared in conformity with U.S. GAAP which contemplate the continuation of the Company as a going concern and do not include any adjustments that might be necessary should we be unable to continue as a going concern.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Changes On January 1, 2020, we adopted Financial Accounting Standards Board Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss impairment methodology in previous U.S. GAAP with a methodology (Current Expected Credit Losses model, or CECL) that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The guidance requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The updated guidance applies to (i) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, and (ii) loan commitments and other off-balance sheet credit exposures. The adoption did not have a material impact on our Condensed Consolidated Financial Statements.

Leases (Policies)

Leases (Policies)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	We lease certain facilities, land, vehicles, and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet (including short-term sale leaseback transactions); we recognize lease expense for these leases on a straight-line basis over the lease term. Operating right of use (“ROU”) assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. The unmanned equipment that we lease to customers as operating leases consists primarily of drilling rental tools and artificial lift pumping equipment. These equipment rental revenues are generally provided based on call-out work orders that include fixed per unit prices and are derived from short-term contracts. See “ Note 15 – Revenues

Accounts Receivable Factoring A

Accounts Receivable Factoring Accounts Receivable Factoring (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Accounts Receivable Factoring	The following table presents accounts receivable sold and cash proceeds from the sale of accounts receivable. The loss on sale of accounts receivable was immaterial in both the Successor and Predecessor periods. Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Accounts Receivable Sold $ 6 $ 84 Cash Proceeds from Sale of Accounts Receivable $ 6 $ 81

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Components of Inventory	Inventories by category were as follows: (Dollars in millions) 3/31/2020 12/31/2019 Work in Process and Raw Materials, Components and Supplies $ 143 $ 142 Finished Goods 861 830 $ 1,004 $ 972

Long-Lived Asset Impairments _2

Long-Lived Asset Impairments and Other (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Impairment of Long-Lived Assets	The table below details the Successor impairment charges by asset and segment: Three Months Ended March 31, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Property, Plant and Equipment $ 222 $ 208 $ 430 Intangible Assets 31 106 137 Right of Use Assets 49 24 73 Goodwill — 167 167 Total Impairment Charges $ 302 $ 505 $ 807

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reporting segment at March 31, 2020 , are presented in the following table. (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Balance at December 31, 2019 $ — $ 239 $ 239 Impairment — (167 ) (167 ) Balance at March 31, 2020 $ — $ 72 $ 72
Schedule of Finite-Lived Intangible Assets	Intangible Assets The components of definite-lived intangible assets, net of accumulated amortization, were as follows: (Dollars in millions) 3/31/2020 12/31/2019 Developed and Acquired Technology $ 545 $ 721 Trade Names 383 393 Totals $ 928 $ 1,114

Restructuring, Facility Conso_2

Restructuring, Facility Consolidation and Severance Charges (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table presents restructuring charges for the Successor Period and Predecessor Period. Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Severance Charges $ 23 $ 2 Facility Consolidation and Other Charges 3 14 Asset Related Charges (non-cash) — 4 Total Restructuring Charges $ 26 $ 20 The following table presents total restructuring charges by reporting segment and Corporate for the Successor Period and Predecessor Period. (Dollars in millions) Western Hemisphere Eastern Hemisphere Corporate Total March 31, 2020 (Successor) $ 15 $ 6 $ 5 $ 26 March 31, 2019 (Predecessor) 5 5 10 20
Schedule of Restructuring Reserve by Type of Cost	The following table presents total restructuring accrual activity charges, payments and other changes for the Successor Period ended March 31, 2020. (Dollars in millions) Accrued Balance at Beginning of Period Charges Cash Payments Other Accrued Balance at End of Period March 31, 2020 (Successor) $ 66 $ 26 $ (17 ) $ (4 ) $ 71

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease Balance Sheet	Finance leases are recorded net of $3 million in accumulated amortization as of March 31, 2020 . As a result of the unprecedented industry conditions described in “ Note 1 – General ”, we impaired our right of use assets by $73 million to their respective fair values in the three months ended March 31, 2020, as also summarized at “ Note 6 - Long-Lived Asset Impairments and Other ”. (Dollars in millions) Classification 3/31/2020 12/31/2019 Balance Sheet Components: Assets Operating Other Non-Current Assets $ 172 $ 256 Finance Property Plant and Equipment, Net 62 62 Total lease assets $ 234 $ 318 Liabilities Current Operating Other Current Liabilities $ 79 $ 79 Finance Short-term Borrowings and Current Portion of Long-term Debt 11 10 Non-Current Operating Other Non-Current Liabilities 196 213 Finance Long-term Debt 52 54 Total lease liabilities $ 338 $ 356
Lease, Cost	Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Lease Expense Components: Operating lease expense $ 24 $ 30 Short-term and variable lease expense 22 20 Finance lease expense: Amortization of ROU assets and interest on lease liabilities 4 3 Sublease income (1 ) (2 ) Total lease expense $ 49 $ 51
Operating and Finance Lease Maturities	Operating Finance (Dollars in millions) Leases Leases Maturity of Lease Liabilities as of March 31, 2020: Remainder of 2020 $ 76 $ 12 2021 83 13 2022 57 11 2023 31 11 2024 23 11 After 2024 138 25 Total Lease Payments 408 83 Less: Interest 133 20 Present Value of Lease Liabilities $ 275 $ 63
Supplemental Lease Disclosures	Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions except years and percentages) 3/31/2020 3/31/2019 Other Supplemental Information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 28 $ 32 Operating cash outflows from finance leases $ 1 $ 1 Financing cash outflows from finance leases $ 2 $ 2 ROU assets obtained in exchange of new operating lease liabilities $ 19 $ 19 ROU assets obtained in exchange of new finance lease liabilities $ 2 $ — Loss on sale leaseback transactions (short-term) (a) $ — $ 36 Weighted-average remaining lease term (years) Operating leases 7.7 6.7 Finance leases 6.4 7.9 Weighted-average discount rate (percentages) Operating leases 9.2 % 13.1 % Finance leases 9.1 % 5.6 % (a) Included in “Restructuring, Asset Impairments and Other” of our Condensed Consolidated Statements of Operations and “Other Net Income Adjustments” of our Condensed Consolidated Statements of Cash Flows .

Borrowings and Other Obligati_2

Borrowings and Other Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Short-term Debt and Other Debt Obligations	(Dollars in millions) 3/31/2020 12/31/2019 Finance Lease Current Portion $ 11 $ 10 Other Short-term Loans 15 3 Short-term Borrowings $ 26 $ 13 Long-term Debt $ 2,149 $ 2,151
Fair Value,of Short and Long-term Borrowings	(Dollars in millions) 3/31/2020 12/31/2019 Fair Value $ 1,260 $ 2,252 Carrying Value 2,098 2,097

Shareholders' Equity (Deficie_2

Shareholders' Equity (Deficiency) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Stockholders' Equity	The following summarizes our shareholders’ equity (deficiency) activity for the three months ended March 31, 2020 and 2019 . (Dollars in Millions) Par Value of Issued Shares Capital in Excess of Par Value Retained Deficit Accumulated Non-controlling Interests Total Shareholders’ Equity (Deficiency) Balance at December 31, 2019 (Successor) $ — $ 2,897 $ (26 ) $ 9 $ 36 $ 2,916 Net Income (Loss) — — (966 ) — 8 (958 ) Other Comprehensive Loss — — — (95 ) — (95 ) Balance at March 31, 2020 (Successor) $ — $ 2,897 $ (992 ) $ (86 ) $ 44 $ 1,863 Balance at December 31, 2018 (Predecessor) $ 1 $ 6,711 $ (8,671 ) $ (1,746 ) $ 39 $ (3,666 ) Net Income (Loss) — — (481 ) — 4 (477 ) Other Comprehensive Income — — — 33 — 33 Dividends Paid to Noncontrolling Interests — — — — (5 ) (5 ) Equity Awards Granted, Vested and Exercised — 8 — — — 8 Other — — — — 1 1 Balance at March 31, 2019 (Predecessor) 1 6,719 (9,152 ) (1,713 ) 39 (4,106 )
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 for the Successor and three months ended March 31, 2019 for the Predecessor: (Dollars in millions) Currency Translation Adjustment Defined Benefit Pension Deferred Loss on Derivatives Total Balance at December 31, 2019 (Successor) $ 7 $ 2 $ — $ 9 Other Comprehensive Loss $ (95 ) $ — $ — $ (95 ) Balance at March 31, 2020 (Successor) $ (88 ) $ 2 $ — $ (86 ) Balance at December 31, 2018 (Predecessor) $ (1,724 ) $ (14 ) $ (8 ) $ (1,746 ) Other Comprehensive Income 33 — — 33 Balance at March 31, 2019 (Predecessor) $ (1,691 ) $ (14 ) $ (8 ) $ (1,713 )

Loss per Share (Tables)

Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The following table presents our basic and diluted weighted average shares outstanding and loss per share for the three months ended March 31, 2020 and 2019 : Successor Predecessor Three Months Ended Three Months Ended (Dollars and shares in millions, except per share amounts) 3/31/2020 3/31/2019 Net Loss Attributable to Weatherford $ (966 ) $ (481 ) Basic and Diluted weighted average shares outstanding 70 1,003 Basic and Diluted Loss Per Share Attributable to Weatherford $ (13.80 ) $ (0.48 )

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables disaggregate our product and service revenues from contracts with customers by major product line and geographic region for the three months ended March 31, 2020 and 2019. Equipment rental revenues recognized under ASC 842 was $57 million in the Successor Period and $78 million in the Predecessor Period, which are included in the tables below. Successor Three Months Ended March 31, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Revenues Product Lines: Production $ 257 $ 96 $ 353 Completions 109 205 314 Drilling and Evaluation 113 168 281 Well Construction 109 158 267 Total $ 588 $ 627 $ 1,215 Predecessor Three Months Ended March 31, 2019 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Revenues Product Lines: Production $ 299 $ 100 $ 399 Completions 133 173 306 Drilling and Evaluation 152 184 336 Well Construction 142 163 305 Total $ 726 $ 620 $ 1,346 Successor Predecessor Three Months Ended Three Months Ended (Dollars in millions) 3/31/2020 3/31/2019 Geographic Areas: North America $ 341 $ 456 Latin America 247 270 Western Hemisphere 588 726 Middle East & North Africa and Asia 403 390 Europe/Sub-Sahara Africa/Russia 224 230 Eastern Hemisphere 627 620 Total Revenues $ 1,215 $ 1,346
Schedule of Contract with Customer, Asset and Liability	Contract Balances The following table provides information about receivables for product and services included in “Accounts Receivable, Net” at March 31, 2020 and December 31, 2019 . (Dollars in millions) 3/31/2020 12/31/2019 Receivables for Product and Services in Accounts Receivable, Net $ 1,124 $ 1,156 Changes in the contract assets and liabilities balances during the three months ended March 31, 2020 are as follows: (Dollars in millions) Contract Assets Contract Liabilities Balance at December 31, 2019 $ 3 $ 12 Revenue recognized that was included in the deferred revenue balance at the beginning of the period — (4 ) Increase due to consideration received, net of amount recognized as revenue during the period — 12 Increase due to revenue recognized during the period but contingent on future performance 1 — Transferred to receivables from contract assets recognized at the beginning of the period (2 ) — Adjustments due to changes in estimates, contract modifications or other — 10 Balance at March 31, 2020 $ 2 $ 30
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	In the following table, estimated revenue expected to be recognized in the future related to performance obligations that are either unsatisfied or partially unsatisfied as of March 31, 2020 primarily relate to subsea services and an artificial lift contract. (Dollars in millions) 2020 2021 2022 2023 Thereafter Total Service Revenue $ 40 $ 25 $ 32 $ 32 $ 32 $ 161

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Financial information by segment	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. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2019 Annual Report. Successor Three Months Ended March 31, 2020 (Dollars in millions) Revenues Income (Loss) from Operations Depreciation and Amortization Western Hemisphere $ 588 $ 29 $ 47 Eastern Hemisphere 627 18 109 Total 1,215 47 156 Corporate (26 ) 1 Long-lived Asset Impairments (a) (640 ) Goodwill Impairment (167 ) Restructuring and Other Charges (36 ) Total $ 1,215 $ (822 ) $ 157 (a) Includes the impairment on property, plant and equipment, intangibles and right of use assets. Predecessor Three Months Ended March 31, 2019 (Dollars in millions) Revenues Income (Loss) from Operations Depreciation and Amortization Western Hemisphere $ 726 $ 9 $ 48 Eastern Hemisphere 620 20 72 1,346 29 120 Corporate (32 ) 3 Goodwill Impairment (229 ) Restructuring and Other Charges (b) (69 ) Total $ 1,346 $ (301 ) $ 123 (b) Includes the loss on disposition of assets and businesses, prepetition charges, other fees and asset impairments, partially offset by a reduction of a contingency reserve on a legacy contract.

General Liquidity Concerns (Det

General Liquidity Concerns (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unprecedented Supply and Demand Imbalance (mm/bbl)	20-30 million barrels per day
Decrease in bond prices, shares	44.00%
Decrease in share price, percent	79.00%
Credit Facility, Borrowing After Quarter End	$ 100

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Receivables [Abstract]
Accounts Receivable Sold	$ 6	$ 84
Cash Proceeds from Sale of Accounts Receivable	$ 6	$ 81

Inventories, Net (Schedule of I

Inventories, Net (Schedule of Inventory) (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Work in Process and Raw Materials, Components and Supplies	$ 143	$ 142
Finished Goods	861	830
Inventories, Net	$ 1,004	$ 972

Business Combinations and Div_2

Business Combinations and Divestitures - Acquisitions (Details) - Joint Venture in Qatar - Will be Made Two Years after Closing - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2020	Mar. 31, 2020
Business Acquisition [Line Items]
Cash		$ 12
Subsequent Event
Business Acquisition [Line Items]
Cash	$ 12

Business Combinations and Div_3

Business Combinations and Divestitures - Divestitures (Details) - Discontinued Operations, Disposed of by Sale - Land Drilling Rigs - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred	$ 72		$ 287.5
Loss on disposition of business	$ 6
Divestitures, assets		$ 66

Long-Lived Asset Impairments _3

Long-Lived Asset Impairments and Other - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived asset impairment	$ 640		$ 0
Goodwill Impairment	$ 167	$ 167	$ 229

Long-Lived Asset Impairments _4

Long-Lived Asset Impairments and Other - Impairment of Long Lived Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	$ 430
Intangible Assets	137
Right of Use Assets	73
Goodwill	167	$ 167	$ 229
Total Impairment Charges	807
Eastern Hemisphere
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	208
Intangible Assets	106
Right of Use Assets	24
Goodwill	167
Total Impairment Charges	505
Western Hemisphere
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	222
Intangible Assets	31
Right of Use Assets	49
Goodwill	0
Total Impairment Charges	$ 302

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Goodwill [Roll Forward]
Balance at December 31, 2019	$ 239
Goodwill Impairment	(167)	$ (167)	$ (229)
Balance at March 31, 2020	72	239
Western Hemisphere
Goodwill [Roll Forward]
Balance at December 31, 2019	0
Goodwill Impairment	0
Balance at March 31, 2020		0
Eastern Hemisphere
Goodwill [Roll Forward]
Balance at December 31, 2019	239
Goodwill Impairment	(167)
Balance at March 31, 2020	$ 72	$ 239

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets Goodwill Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Goodwill [Line Items]
Goodwill Impairment	$ 167	$ 167	$ 229
Middle East and North Africa
Goodwill [Line Items]
Goodwill Impairment	127
Russia
Goodwill [Line Items]
Goodwill Impairment	$ 40

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Totals	$ 928	$ 1,114
Developed and Acquired Technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	545	721
Totals	137
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 383	$ 393

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets Intangible Asset Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Totals	$ 928		$ 1,114
Amortization of intangible assets	46	$ 16
Accumulated amortization	55		$ 9
Developed and Acquired Technology
Finite-Lived Intangible Assets [Line Items]
Totals	137
Accumulated amortization	43
Trade Names
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 12

Restructuring, Facility Conso_3

Restructuring, Facility Consolidation and Severance Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 26	$ 20

Restructuring, Facility Conso_4

Restructuring, Facility Consolidation and Severance Charges (Restructuring Charges) (Details) - Restructuring Charges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 26	$ 20
Western Hemisphere
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	15	5
Eastern Hemisphere
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	6	5
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	5	10
Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	23	2
Facility Consolidation and Other Charges
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	3	14
Asset Related Charges (non-cash)
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	$ 0	$ 4

Restructuring, Facility Conso_5

Restructuring, Facility Consolidation and Severance Charges (Restructuring Liability) (Details) - Severance and Other Restructuring Liabilities $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	$ 66
Restructuring Charges	26
Cash Payments	(17)
Other	(4)
Accrued balance at end of period	$ 71

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Accumulated Depreciation of Property, Plant and Equipment	$ 124	$ 25
Right of Use Assets	73
Accounting Standards Update 2016-02
Accumulated Depreciation of Property, Plant and Equipment	$ 3

Leases Lease Balance Sheet (Det

Leases Lease Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 172	$ 256
Finance Lease, Right-of-Use Asset	62	62
Lease Right of Use Assets	234	318
Operating Lease, Liability	79	79
Finance Lease, Liability, Current	11	10
Operating Lease, Liability, Noncurrent	196	213
Finance Lease, Liability, Noncurrent	52	54
Lease Liabilities	$ 338	$ 356

Leases Lease Cost (Details)

Leases Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease expense	$ 24	$ 30
Short-term and variable lease expense	22	20
Finance lease expense: Amortization of ROU assets and interest on lease liabilities	4	3
Sublease income	(1)	(2)
Total lease expense	$ 49	$ 51

Leases Operating and Finance Le

Leases Operating and Finance Lease Maturities Table (Details) $ in Millions	Mar. 31, 2020USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2020	$ 76
2021	83
2022	57
2023	31
2024	23
After 2024	138
Total Lease Payments	408
Less: Interest	133
Present Value of Lease Liabilities	275
Finance Lease, Liability, Payment, Due [Abstract]
Remainder of 2020	12
2021	13
2022	11
2023	11
2024	11
After 2024	25
Total Lease Payments	83
Less: Interest	20
Present Value of Lease Liabilities	$ 63

Leases Supplemental Lease Discl

Leases Supplemental Lease Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Leases [Abstract]
Operating cash outflows from operating leases	$ 28	$ 32
Operating cash outflows from finance leases	1	1
Financing cash outflows from finance leases	2	2
ROU assets obtained in exchange of new operating lease liabilities	19	19
ROU assets obtained in exchange of new finance lease liabilities		0	$ 2
Loss on sale leaseback transactions (short-term)	$ 0	$ 36
Operating lease, weighted average remaining lease term	7 years 8 months 12 days	6 years 8 months 12 days
Finance lease, weighted average remaining lease term	6 years 4 months 24 days	7 years 10 months 24 days
Operating lease, weighted average discount rate	9.20%	13.10%
Finance lease, weighted average discount rate	9.10%	5.60%

Borrowings and Other Obligati_3

Borrowings and Other Obligations (Schedule of Short-term Debt) (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Finance Lease Current Portion	$ 11	$ 10
Short-term Borrowings	26	13
Long-term Debt	2,149	2,151
Other short-term bank loans
Short-term Debt [Line Items]
Finance Lease Current Portion	11	10
Other Short-term Loans	$ 15	$ 3

Borrowings and Other Obligati_4

Borrowings and Other Obligations (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 12, 2019
Short-term Debt [Line Items]
Debt instrument, unused borrowing capacity, amount	$ 235,000,000
Credit Facility, Borrowing	100,000,000
A&R Credit Agreement Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	140,000,000
LC Credit Agreement Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	120,000,000
Other short-term bank loans
Short-term Debt [Line Items]
Short-term debt	15,000,000	$ 3,000,000
Committed Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount		$ 361,000,000
Letters of credit outstanding, cash collateral	91,000,000
Committed letters of credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	101,000,000
ABL Credit Agreement
Short-term Debt [Line Items]
Credit agreement, maximum capacity			$ 450,000,000
Long-term line of credit	$ 0
LC Credit Agreement
Short-term Debt [Line Items]
Credit agreement, maximum capacity			$ 195,000,000
Senior Notes | Exit Notes, 11.00 Percent Due 2024
Short-term Debt [Line Items]
Stated interest rate on debt			11.00%
Face amount of debt			$ 2,100,000,000

Borrowings and Other Obligati_5

Borrowings and Other Obligations Fair and carrying value of long-term debt (Details) - Fair Value, Inputs, Level 2 - Senior Notes - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 1,260	$ 2,252
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 2,098	$ 2,097

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, held-to-maturity	$ 50	$ 50
Fair Value, Inputs, Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, held-to-maturity	50	50
Senior Notes | Fair Value, Inputs, Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	1,260	2,252
Senior Notes | Fair Value, Inputs, Level 2 | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 2,098	$ 2,097

Disputes, Litigation and Cont_2

Disputes, Litigation and Contingencies (Details) $ in Millions	Jul. 31, 2015patent	Dec. 31, 2010lawsuit	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Loss Contingencies [Line Items]
Estimated litigation liability | $			$ 40	$ 44
Loss contingency, patents allegedly infringed, number | patent	7
Neff v. Brady, et al.
Loss Contingencies [Line Items]
Number of actions filed (in lawsuits) | lawsuit		3

Shareholders' Equity (Deficie_3

Shareholders' Equity (Deficiency) (Shareholders' Equity Activity) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	$ 2,916	$ (3,666)
Net Income (Loss)	(958)	(477)
Other Comprehensive Income	(95)	33
Dividends Paid to Noncontrolling Interests		(5)
Equity Awards Granted, Vested and Exercised		8
Other		1
Balance, ending balance	1,863	(4,106)
Par Value of Issued Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	0	1
Balance, ending balance	0	1
Capital in Excess of Par Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	2,897	6,711
Equity Awards Granted, Vested and Exercised		8
Balance, ending balance	2,897	6,719
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	(26)	(8,671)
Net Income (Loss)	(966)	(481)
Balance, ending balance	(992)	(9,152)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	9	(1,746)
Other Comprehensive Income	(95)	33
Balance, ending balance	(86)	(1,713)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	36	39
Net Income (Loss)	8	4
Dividends Paid to Noncontrolling Interests		(5)
Other		1
Balance, ending balance	$ 44	$ 39

Shareholders' Equity (Deficie_4

Shareholders' Equity (Deficiency) (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 9	$ (1,746)
Other Comprehensive Income	(95)	33
Ending balance	(86)	(1,713)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	7	(1,724)
Other Comprehensive Income	(95)	33
Ending balance	(88)	(1,691)
Defined Benefit Pension
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	2	(14)
Other Comprehensive Income	0	0
Ending balance	2	(14)
Deferred Loss on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	0	(8)
Other Comprehensive Income	0	0
Ending balance	$ 0	$ (8)

Loss per Share (Weighted Averag

Loss per Share (Weighted Average Shares Outstanding) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Loss Attributable to Weatherford	$ (966)	$ (481)
Weighted Average Shares Outstanding, Basic and Diluted (in shares)	70	1,003
Loss Per Share, Basic & Diluted (in dollars per share)	$ (13.80)	$ (0.48)

Loss per Share (Antidilutive Sh

Loss per Share (Antidilutive Shares) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8	250

Revenues - Major Product Line (

Revenues - Major Product Line (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Rental Revenues	$ 57		$ 78
Disaggregation of Revenue [Line Items]
Total Revenues	1,215		1,346
Total Revenues	1,215	$ 1,215	1,346	$ 1,346
Production
Disaggregation of Revenue [Line Items]
Total Revenues			399
Total Revenues	353
Completions
Disaggregation of Revenue [Line Items]
Total Revenues			306
Total Revenues	314
Drilling and Evaluation
Disaggregation of Revenue [Line Items]
Total Revenues			336
Total Revenues	281
Well Construction
Disaggregation of Revenue [Line Items]
Total Revenues			305
Total Revenues	267
Western Hemisphere
Disaggregation of Revenue [Line Items]
Total Revenues	588	588	726	726
Western Hemisphere | Production
Disaggregation of Revenue [Line Items]
Total Revenues	257		299
Western Hemisphere | Completions
Disaggregation of Revenue [Line Items]
Total Revenues	109		133
Western Hemisphere | Drilling and Evaluation
Disaggregation of Revenue [Line Items]
Total Revenues	113		152
Western Hemisphere | Well Construction
Disaggregation of Revenue [Line Items]
Total Revenues	109		142
Eastern Hemisphere
Disaggregation of Revenue [Line Items]
Total Revenues	627	$ 627	620	$ 620
Eastern Hemisphere | Production
Disaggregation of Revenue [Line Items]
Total Revenues	96		100
Eastern Hemisphere | Completions
Disaggregation of Revenue [Line Items]
Total Revenues	205		173
Eastern Hemisphere | Drilling and Evaluation
Disaggregation of Revenue [Line Items]
Total Revenues	168		184
Eastern Hemisphere | Well Construction
Disaggregation of Revenue [Line Items]
Total Revenues	$ 158		$ 163

Revenues - Geographic Areas (De

Revenues - Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues	$ 1,215		$ 1,346
Rental Revenues	57		78
Total Revenues	1,215	$ 1,215	1,346	$ 1,346
Western Hemisphere
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues	588	588	726	726
Western Hemisphere | North America
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues		341		456
Western Hemisphere | Latin America
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues		247		270
Western Hemisphere | United States
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues	274		373
Eastern Hemisphere
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues	$ 627	627	$ 620	620
Eastern Hemisphere | Middle East & North Africa and Asia
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues		403		390
Eastern Hemisphere | Europe/Sub-Sahara Africa/Russia
Disaggregation of Revenue [Line Items]
Total Product and Service Revenue before Rental Revenues		$ 224		$ 230

Revenues - Receivables (Details

Revenues - Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Receivables for Product and Services in Accounts Receivable, Net	$ 1,124	$ 1,156

Revenues - Contract Assets and

Revenues - Contract Assets and Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Contract Assets
Balance at December 31, 2019	$ 3
Increase due to revenue recognized during the period but contingent on future performance	1
Transferred to receivables from contract assets recognized at the beginning of the period	(2)
Balance at March 31, 2020	2
Contract Liabilities
Balance at December 31, 2019	12
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(4)
Increase due to consideration received, net of amount recognized as revenue during the period	12
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Modification of Contract	10
Balance at March 31, 2020	$ 30

Revenues - Expected to be Recog

Revenues - Expected to be Recognized in Future (Details) $ in Millions	Mar. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 40
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	25
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	32
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	32
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	32
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total	$ 161

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
(Provision) Benefit for Income Taxes	$ (44)	$ (12)
Loss Before Income Taxes	(914)	$ (465)
Unrecognized Tax Benefits	214
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 3

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 1,215	$ 1,215	$ 1,346	$ 1,346
Operating Income (Loss)	(822)		(301)
Depreciation and Amortization	157		123
Goodwill Impairment	(167)	$ (167)	(229)
Restructuring Charges	(36)		(69)
Western Hemisphere
Segment Reporting Information [Line Items]
Goodwill Impairment	0
Eastern Hemisphere
Segment Reporting Information [Line Items]
Goodwill Impairment	(167)
Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,215		1,346
Operating Income (Loss)	47		29
Depreciation and Amortization	156		120
Operating Segments | Western Hemisphere
Segment Reporting Information [Line Items]
Revenues	588		726
Operating Income (Loss)	29		9
Depreciation and Amortization	47		48
Operating Segments | Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenues	627		620
Operating Income (Loss)	18		20
Depreciation and Amortization	109		72
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Depreciation and Amortization	1		3
Corporate General and Administrative	26		$ 32
Segment Reconciling Items
Segment Reporting Information [Line Items]
Impairment of Long-Lived Assets and Other Related Charges	640
Restructuring Charges	$ (36)