Weatherford International (WFRD) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2020	Jul. 30, 2020	Dec. 31, 2019
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36504
Entity Registrant Name	Weatherford International plc
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
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
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	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenue	$ 821	$ 1,309	$ 2,036	$ 2,655
Costs and Expenses:
Research and Development	23	36	56	72
Selling, General and Administrative	223	247	471	478
Long-lived Assets Impairments	178	13	818	20
Goodwill Impairment	72	102	239	331
Inventory Charges	134	0	134	0
Restructuring, Facility and Severance	57	20	83	40
Prepetition Charges	0	76	0	86
Gain on Sale of Businesses, Net	0	(114)	0	(112)
Total Costs and Expenses	1,318	1,427	3,355	3,074
Operating Income (Loss)	(497)	(118)	(1,319)	(419)
Other Expense:
Interest Expense, Net	(59)	(160)	(117)	(315)
Reorganization Items	0	0	(9)	0
Other Expense, Net	(11)	(1)	(36)	(10)
Loss Before Income Taxes	(567)	(279)	(1,481)	(744)
Income Tax Provision	(12)	(33)	(56)	(45)
Net Loss	(579)	(312)	(1,537)	(789)
Net Income Attributable to Noncontrolling Interests	2	4	10	8
Net Income (Loss) Attributable to Weatherford	$ (581)	$ (316)	$ (1,547)	$ (797)
Loss Per Share Attributable to Weatherford:
Loss Per Share, Basic & Diluted (in dollars per share)	$ (8.30)	$ (0.31)	$ (22.10)	$ (0.79)
Weighted Average Shares Outstanding:
Weighted Average Shares Outstanding, Basic and Diluted (in shares)	70	1,004	70	1,003
Other Cost and Expense, Operating	$ 22	$ 28	$ 32	$ 58
Products
Revenues:
Revenue	309	498	759	994
Costs and Expenses:
Cost of Goods and Services Sold	253	467	645	935
Services
Revenues:
Revenue	512	811	1,277	1,661
Costs and Expenses:
Cost of Goods and Services Sold	$ 356	$ 552	$ 877	$ 1,166

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Loss	$ (579)	$ (312)	$ (1,537)	$ (789)
Foreign Currency Translation Adjustments	29	30	(66)	63
Comprehensive Loss	(550)	(282)	(1,603)	(726)
Comprehensive Income Attributable to Noncontrolling Interests	2	4	10	8
Comprehensive Loss Attributable to Weatherford	$ (552)	$ (286)	$ (1,613)	$ (734)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets, Current [Abstract]
Cash and Cash Equivalents	$ 680	$ 618
Restricted Cash	76	182
Accounts Receivable, Net of Allowance for Credit Losses of $25 at June 30, 2020 and $0 at December 31, 2019	927	1,241
Inventories, Net	862	972
Other Current Assets	382	440
Total Current Assets	2,927	3,453
Property, Plant and Equipment, Net of Accumulated Depreciation of $210 at June 30, 2020 and $25 at December 31, 2019	1,367	2,122
Goodwill	0	239
Intangible Assets, Net of Accumulated Amortization of $95 at June 30, 2020 and $9 at December 31, 2019	875	1,114
Operating Lease Right-of-Use Assets	155	256
Other Non-Current Assets	85	109
Total Assets	5,409	7,293
Liabilities:
Short-term Borrowings and Current Portion of Long-term Debt	32	13
Accounts Payable	384	585
Accrued Salaries and Benefits	269	270
Income Taxes Payable	203	205
Current Portion of Operating Lease Liabilities	73	79
Other Current Liabilities	465	520
Total Current Liabilities	1,426	1,672
Long-term Debt	2,148	2,151
Operating Lease Liabilities	195	213
Other Non-Current Liabilities	335	341
Total Liabilities	4,104	4,377
Shareholders’ Equity:
Ordinary Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 70 shares at June 30, 2020 and December 31, 2019	0	0
Capital in Excess of Par Value	2,897	2,897
Retained Deficit	(1,573)	(26)
Accumulated Other Comprehensive Income (Loss)	(57)	9
Weatherford Shareholders’ Equity	1,267	2,880
Noncontrolling Interests	38	36
Total Shareholders’ Equity	1,305	2,916
Total Liabilities and Shareholders’ Equity	$ 5,409	$ 7,293

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets, Current [Abstract]
Allowance for Uncollectible Accounts	$ 25	$ 0
Noncurrent Assets:
Accumulated Depreciation of Property, Plant and Equipment	210	25
Accumulated Amortization of Other Intangible Assets	$ 95	$ 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	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net Loss	$ (1,537)	$ (789)
Adjustments to Reconcile Net Loss to Net Cash Provided by (Used in) Operating Activities:
Depreciation and Amortization	270	239
Goodwill Impairment	239	331
Long-lived Asset Impairments and Other Charges	967	78
Gain on Sale Businesses, Net	0	(112)
Deferred Income Tax Provision (Benefit)	21	(10)
Other Net Income Adjustments	45	52
Change in Operating Assets and Liabilities:
Accounts Receivable	277	(84)
Inventories	(33)	(87)
Accounts Payable	(197)	(3)
Other, Net	9	(93)
Net Cash Provided by (Used in) Operating Activities	61	(478)
Cash Flows From Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(73)	(114)
Payments of Deferred Consideration on the Acquisition of Equity Investment	(24)	0
Acquisition of Intangible Assets	(2)	(9)
Proceeds from Sale of Property, Plant, and Equipment	8	45
Proceeds from Disposition of Businesses, Net	0	301
Other Investing Activities	5	0
Net Cash Provided by (Used in) Investing Activities	(86)	223
Cash Flows From Financing Activities:
Repayments of Long-term Debt	(5)	(17)
Borrowings (Repayments) of Short-term Debt, Net	7	298
Other Financing Activities	(14)	(12)
Net Cash Provided by (Used in) Financing Activities	(12)	269
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(7)	2
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(44)	16
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	800	602
Cash, Cash Equivalents and Restricted Cash at End of Period	756	618
Supplemental Cash Flow Information:
Interest Paid	112	224
Income Taxes Paid, Net of Refunds	40	51
Non-cash Financing Obligations	$ 14	$ 0

General

General	6 Months Ended
	Jun. 30, 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”) have been 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 consolidated 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”). The preparation of the financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Ultimate results could differ from our estimates. 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 Weatherford and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. Our 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 and six months ended June 30, 2019 have been made to conform to the presentation for the three and six months ended June 30, 2020. Please refer to “Note 2 – New Accounting Pronouncements” for changes to our accounting policies. 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 of the Company prior to the emergence from bankruptcy on December 13, 2019 for the period ended June 30, 2019. References to “Successor” herein relate to the Condensed Consolidated Balance Sheets of the reorganized Company as of June 30, 2020 and December 31, 2019 and the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2020 (“Successor Period”) and are not comparable to the Condensed Consolidated Financial Statements of the Predecessor Periods for the three and six months ended June 30, 2019 (“Predecessor Period”), as indicated by the “black line” division in the financials and footnote tables, which emphasizes the lack of comparability between amounts presented. Our financial results for future periods will be different from historical trends and the differences may be material. Impact of COVID-19 Pandemic and Oil Price Declines on Our Operations and Liquidity The COVID-19 pandemic, customer activity shutdowns, travel constraints and access restrictions to customer work locations have created significant uncertainty for the global economy as well as for the trajectory of the industry and the Company, lowering expectations of oil and gas related spending throughout the remainder of 2020 and beyond, resulting in a significant decline in the global demand for oil and gas. This caused an imbalance in supply and demand for oil and gas, as well as demand destruction for oil and gas. The demand destruction associated with the COVID-19 pandemic caused commodity price uncertainty and correspondingly, significant activity declines in the industry. The impacts of the COVID-19 pandemic together with uncertainty around the extent and timing for an economic recovery, have caused extreme market volatility of commodity prices and resulted in significant reductions to the capital spending of exploration and production companies. Although the price and demand of oil and gas stabilized somewhat during the second quarter of 2020, we do not expect the industry to recover in the near term. 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. In addition, continued negative sentiment for the energy industry in the capital markets has impacted demand for our products and services, as our customers, particularly those in North America, have experienced challenges securing appropriate amounts of capital under suitable terms to finance their operations. The global impacts surrounding the COVID-19 pandemic, including operational and manufacturing disruptions, logistical constraints and travel restrictions, are constantly evolving. 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, shipping and other logistical delays and disruptions, customer restrictions that prevent access to their sites, community measures to contain the spread of the virus, and changes to Weatherford’s policies that have both restricted and changed 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 caused commodity price uncertainty and correspondingly, significant activity declines in the industry. Revenue in the second quarter of 2020 declined 37% compared to the second quarter of 2019 and 32% sequentially due to lower business activity resulting from the factors described above. Demand for our products and services have weakened and we continue to expect lower than normal demand for our products and services through the remainder of 2020 and, potentially, 2021. As a result, our financial outlook for the remainder of the year, has been and continues to be materially and negatively impacted. We continue to anticipate significant constraints on our ability to generate revenues, profits and cash flows. We anticipate a multi-year (2020 to 2021 and potentially beyond) dislocation across the industry, particularly in North America, Europe, Latin America and Sub Saharan Africa. Entering 2020, we had taken a number of actions that were yielding improvements in our cost structure. In the second quarter of 2020, we implemented more aggressive actions to right-size our business to address current market conditions. At June 30, 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. Given the material decline in our business as a result of the decrease in demand for oil and gas worldwide, we expect that a breach of our covenants under our ABL Credit Agreement could occur in the first half of 2021. See discussion below under the subheading “ Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern ” for further details regarding a potential covenant breach. Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern The significant uncertainty on the long-term impacts of the COVID-19 pandemic, the global economy, and the oil and gas industry for 2020 and beyond is having a negative impact on our business. As a result of these impacts, in the second quarter of 2020, we increased and accelerated our workforce reduction plan, reduced certain management and employee pay, reduced other operating costs, and initiated further consolidation of our operations. Many of these cost reduction actions, like workforce reduction and temporary pay reductions, have been extended into the third quarter of 2020. Despite the actions of management, given the material decline in our business as a result of the decline in demand for oil and gas worldwide, we expect that a breach of our covenants under our ABL Credit Agreement could occur in the first half of 2021. A breach of these financial covenants would constitute an event of default under our ABL Credit Agreement which if not timely cured or waived, would constitute an event of default under our LC Credit Agreement and our unsecured 11% senior notes due 2024 (“Exit Notes”) as described in “Note 9 – Borrowings and Other Obligations” to our Condensed Consolidated Financial Statements. An event of default under these agreements would result in the obligations under these agreements being accelerated or required to be cash collateralized. Such result would constrain our liquidity and we may not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on our ability to continue as a going concern within the next 12 months. The Condensed 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. In an effort to proactively address potential liquidity constraints, on August 4, 2020 we executed a binding commitment letter for $500 million in senior secured first lien notes, with a stated interest rate of 8.75% (“New Senior Secured Notes”) that would mature in September 2024. The commitment letter, which was originally scheduled to expire on August 14, 2020, has been extended to August 21, 2020. The extension of the binding commitment letter allows additional time for the conditions specified in the binding commitment letter to be satisfied or waived and the notes to be issued, which will improve our liquidity. See “Note 17 – Subsequent Event” to the Condensed Consolidated Financial Statements for further details.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Jun. 30, 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. We estimate expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Our customer base has generally similar collectability risk characteristics, although risk profiles can vary between larger independent customers and state-owned customers, which may have a lower risk than smaller independent customers. 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 of this standard update did not have a material impact on our Condensed Consolidated Financial Statements.

Accounts Receivable Factoring

Accounts Receivable Factoring	6 Months Ended
	Jun. 30, 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 Periods and Predecessor Periods were recognized as sales, and the proceeds are included as operating cash flows in our Condensed Consolidated Statements of Cash Flows. The loss on sale of accounts receivable sold was immaterial for all Successor Periods and Predecessor Periods. The following table presents accounts receivable sold and cash proceeds from the sale of accounts receivable. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 June 30, 2019 Accounts Receivable Sold $ 17 $ 78 $ 23 $ 162 Cash Proceeds from Sale of Accounts Receivable $ 15 $ 71 $ 21 $ 152

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net of reserves of $137 million and $0 as of June 30, 2020 and December 31, 2019, respectively by category were as follows: (Dollars in millions) 6/30/2020 12/31/2019 Finished Goods $ 752 $ 830 Work in Process and Raw Materials, Components and Supplies 110 142 $ 862 $ 972 During the second quarter of 2020, we recognized inventory charges and write-downs of $134 million primarily for excess and obsolete inventory as a result of the decline in oil and gas commodity demand, the downturn in the oil and gas industry and the impact of COVID-19 pandemic. The near-term utilization of certain inventory has been deemed to be commercially unviable or technologically obsolete considering current and anticipated future demand. These inventory charges are included in “Inventory Charges” on the accompanying Condensed Consolidated Statements of Operations.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions We did not have any acquisitions of businesses in the three and six months ended June 30, 2020 or 2019. We paid $12 million in March 2020 and an additional $12 million in April 2020 as final settlement of the 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 and six months ended June 30, 2020. In the second quarter of 2019 we completed the sale of our reservoir solutions and our surface data logging businesses for an aggregate sale price of $256 million. We recognized a gain of $117 million and divested a carrying amount of $95 million in net assets on these two business dispositions in the second quarter of 2019.

Long-Lived Asset Impairments an

Long-Lived Asset Impairments and Other Long-Lived Asset Impairments and Other	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Long-Lived Asset Impairments and Other	Long-lived Assets Impairment As a result of the unprecedented global economic and industry conditions described in “Note 1 – General” to our Condensed Consolidated Financial Statements 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 as of March 31, 2020 and again as of June 30, 2020. Based on our impairment test, we determined the carrying amount of certain long-lived assets exceeded their respective fair values. Therefore, during the three and six months ended June 30, 2020, we recognized long-lived asset impairments in “Long-lived Assets Impairments” on the accompanying Condensed Consolidated Statements of Operations of $178 million and $818 million, respectively. The fair values of our long-lived assets were determined using discounted cash flow or Level 3 fair value analyses. 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. Given the dynamic nature of the COVID-19 pandemic and related market conditions, we cannot estimate the period of time that these events will persist or the full extent of the impact on our business. If, in addition to other factors, market conditions deteriorate further than we anticipate, we may record further impairments related to the carrying amount of our long-lived assets, definite-lived intangibles and right of use assets. The table below details the Successor long-lived asset impairment by asset and segment: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Western Hemisphere Eastern Hemisphere Total Property, Plant and Equipment $ 94 $ 47 $ 141 $ 316 $ 255 $ 571 Intangible Assets 13 9 22 44 115 159 Right of Use Assets 7 8 15 56 32 88 Total Impairment Charges $ 114 $ 64 $ 178 $ 416 $ 402 $ 818 During the second quarter of 2020, we recorded a $65 million charge to “Long-Lived Asset Impairments” in our Condensed Consolidated Statements of Operations to correct an immaterial error relating to our estimates of impairment of certain assets associated with our Drilling Services business in the Western Hemisphere that should have been recognized in the first quarter of 2020. This charge would have increased “Long-Lived Asset Impairments”, “Operating Loss”, “Loss Before Income Taxes” and “Net Loss” by $65 million in the three months ended March 31, 2020. The adjustment would not have affected our compliance with financial covenants under our ABL Credit Agreement and would not have had an impact to cash flow from operating activities or any other cash flow measures for that period or on our year-to-date results of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill We determined that 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 then subsequent to the recognition of long-lived assets impairment, we performed an interim quantitative goodwill assessment as of March 31, 2020 and as of June 30, 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. Based upon our goodwill impairment assessment, in the second quarter of 2020 we recognized a goodwill impairment of $72 million on our Russia reporting unit in addition to the goodwill impairment recognized in the first quarter of 2020 of $167 million for our Middle East & North Africa (“MENA”) and Russia reporting units. The total goodwill impairment for the six months ended June 30, 2020 was $239 million. These recognized impairments reduced the carrying value of our goodwill in our MENA reporting unit by $127 million and our Russia reporting unit by $112 million, which are both part of our Eastern Hemisphere segment. The changes in the carrying amount of goodwill by reporting segment at June 30, 2020, are presented in the following table. (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Balance at December 31, 2019 $ — $ 239 $ 239 Impairment — (239) (239) Balance at June 30, 2020 $ — $ — $ — For the three and six months ended June 30, 2019, the Predecessor goodwill impairment tests indicated that goodwill was impaired and as a result the Predecessor incurred a charge of $102 million and $331 million, respectively. The impairment indicators were 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 the North America, Asia and MENA reporting units. Intangible Assets The components of definite-lived intangible assets, net of accumulated amortization, were as follows: (Dollars in millions) 6/30/2020 12/31/2019 Developed and Acquired Technology $ 502 $ 721 Trade Names 373 393 Totals $ 875 $ 1,114 For the three and six months ended of 2020, based on our impairment test, we recognized impairments of $22 million and $159 million, respectively, of our developed and acquired technology. Amortization expense was $40 million and $86 million for the three and six months ended June 30, 2020, respectively, and $16 million and $32 million for the three and six months ended June 30, 2019 and is reported in Selling, General and Administrative on our Condensed Consolidated Statements of Operations. At June 30, 2020, accumulated amortization was $73 million for Developed and Acquired Technology and $22 million for Trade Names.

Restructuring, Facility Consoli

Restructuring, Facility Consolidation and Severance Charges	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring, Facility Consolidation and Severance Charges	Restructuring, Facility Consolidation and Severance Charges During the three and six months ended June 30, 2020, in response to the impact on our business from the COVID-19 pandemic and the 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 and six months ended June 30, 2020, we incurred restructuring and severance charges of $57 million and $83 million, respectively in “Restructuring, Facility and Severance” on the accompanying Condensed Consolidated Statements of Operations. Additional charges with respect to our ongoing cost reduction actions are expected to be recorded in the second half of 2020 and could result in additional charges in future periods as we execute and revise our plans. The following table presents restructuring and severance charges for the Successor Period and Predecessor Period. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Severance Charges $ 55 $ 1 $ 78 $ 3 Facility Consolidation and Other Charges 2 15 5 29 Asset Related Charges (non-cash) — 4 — 8 Total Restructuring and Severance Charges $ 57 $ 20 $ 83 $ 40 The following table presents total restructuring and severance charges by reporting segment and Corporate for the Successor Period and Predecessor Period. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Western Hemisphere $ 26 $ 10 $ 41 $ 15 Eastern Hemisphere 11 2 17 7 Corporate 20 8 25 18 $ 57 $ 20 $ 83 $ 40 The following table presents total restructuring and severance accrual activity charges, payments and other changes for the Successor Period ended June 30, 2020. (Dollars in millions) Accrued Balance at December 31, 2019 Charges Cash Payments Other Accrued Balance at June 30, 2020 Restructuring and Severance Reserve $ 66 $ 83 $ (75) $ (12) $ 62

Borrowings and Other Obligation

Borrowings and Other Obligations	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Borrowings and Other Obligations	Borrowings and Other Obligations (Dollars in millions) 6/30/2020 12/31/2019 Finance Lease Current Portion $ 8 $ 10 Other Short-term Loans 24 3 Short-term Borrowings $ 32 $ 13 Long-term Debt $ 2,148 $ 2,151 Credit Agreements ABL Credit Agreement On December 13, 2019, we 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 June 30, 2020, borrowings under our ABL Credit Agreement was $20 million, outstanding letters of credit was $123 million, and we had approximately $91 million borrowing and/or letters of credit availability under the facility. 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, we 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 June 30, 2020, we had approximately $129 million in outstanding letters of credit under the LC Credit Agreement and availability of $66 million. 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 June 30, 2020, we were in compliance with the financial covenants as defined in the Exit Credit Agreements and 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 in 2020 and future years is uncertain. The actions taken by management to preserve liquidity and capital include the reduction of capital expenditures, consolidation of product lines to eliminate redundancy, exiting from sub-scale locations and a higher level of headcount reductions. The decline in activity has and will continue to result in a significant reduction in our accounts receivable, inventory and rental tools, particularly in North America, which comprise the most significant components of the borrowing base of our credit facility and as a result will impair our ability to comply with the covenants under the ABL Credit Agreement. Despite the actions of management, given the material decline in our business as a result of the decline in demand for oil and gas worldwide, we expect that a breach of our covenants under our ABL Credit Agreement could occur in the first half of 2021. A covenant breach would occur if our Excess Availability and our Fixed Charge Coverage Ratio (as such terms are defined in the ABL Credit Agreement) were to each fall below the minimum requirement as defined in the ABL Credit Agreement. Further, a breach of these financial covenants would constitute an event of default under our ABL Credit Agreement which if not timely cured or waived, would constitute an event of default under our LC Credit Agreement. An event of default under these agreements would result in our obligations being accelerated, including cash collateralizing our letters of credit. Such result would constrain our liquidity and we may not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on our ability to continue as a going concern within the next 12 months. See “Note 1 – 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 June 30, 2020, we had $24 million in short-term borrowings under these arrangements. As of June 30, 2020, we had $335 million of letters of credit and performance and bid bonds outstanding, consisting of $123 million of letters of credit under the ABL Credit Agreement, $129 million of letters of credit under the LC Credit Agreement and $83 million of letters of credit under various uncommitted facilities. At June 30, 2020, we had cash collateral of $72 million, included in Restricted Cash supporting letters of credit under our various uncommitted facilities. Long-term Debt On December 13, 2019, we issued our 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 is payable semiannually in arrears on June 1 and December 1. The Exit Notes are unsecured and mature on December 1, 2024. The indenture governing the Exit Notes contains covenants that limit, among other things, our ability and the ability of certain of our 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 our subsidiaries; transfer or sell assets; create liens; enter into transactions with affiliates; and enter into mergers or consolidations. At June 30, 2020, we are in compliance with our indenture covenants. However, as noted above, a breach of covenants under the ABL Credit Agreement that is not cured or waived, would trigger an event of default under our Exit Notes if it is (a) caused by a failure to pay at its stated maturity principal of an indebtedness within the applicable express grace period and any extensions thereof, or (b) results in the acceleration of such indebtedness prior to its stated maturity, and, in each case, the principal amount of such indebtedness, together with the principal amount of any other indebtedness with respect to which an event described in clause (a) or (b) has occurred and is continuing aggregates $75 million or more. 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) 6/30/2020 12/31/2019 Fair Value $ 1,461 $ 2,252 Carrying Value 2,098 2,097

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 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 consist 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 9 – Borrowings and Other Obligations.”

Disputes, Litigation and Contin

Disputes, Litigation and Contingencies	6 Months Ended
	Jun. 30, 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. We 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 our litigation matters. Accrued litigation and settlements recorded in “Other Current Liabilities” on the accompanying Condensed Consolidated Balance Sheets as of June 30, 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 our 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 filed their motion to dismiss on May 18, 2020, and plaintiffs filed their response on July 3, 2020. The defendants filed a reply brief on August 3, 2020, and now the Court will rule on the motion to dismiss. We cannot reliably predict the outcome of the 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, on June 19, 2020, the plaintiffs filed a motion to dismiss the appeal with prejudice. This litigation has concluded.

Shareholders' Equity (Deficienc

Shareholders' Equity (Deficiency)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Shareholders' Equity (Deficiency)	Shareholders’ Equity (Deficiency) The following summarizes our shareholders’ equity (deficiency) activity for the three and six months ended June 30, 2020 and 2019. (Dollars in Millions) Par Value of Issued Shares Capital in Excess of Par Value Retained 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 Net Income (Loss) — — (581) — 2 (579) Other Comprehensive Loss — — — 29 — 29 Dividends to Noncontrolling Interests — — — — (8) (8) Balance at June 30, 2020 (Successor) $ — $ 2,897 $ (1,573) $ (57) $ 38 $ 1,305 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 to Noncontrolling Interests — — — — (5) (5) 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) Net Income (Loss) — — (316) — 4 (312) Other Comprehensive Income — — — 30 — 30 Dividends to Noncontrolling Interests — — — — (6) (6) Awards Granted, Vested and Exercised — 5 — — — 5 Balance at June 30, 2019 (Predecessor) $ 1 $ 6,724 $ (9,468) $ (1,683) $ 37 $ (4,389) The following table presents the changes in our accumulated other comprehensive income (loss) by component for the six months ended June 30, 2020 for the Successor and six months ended June 30, 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 $ (66) $ — $ — $ (66) Balance at June 30, 2020 (Successor) $ (59) $ 2 $ — $ (57) Balance at December 31, 2018 (Predecessor) $ (1,724) $ (14) $ (8) $ (1,746) Other Comprehensive Income 63 — — 63 Balance at June 30, 2019 (Predecessor) $ (1,661) $ (14) $ (8) $ (1,683)

Loss per Share

Loss per Share	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2020 and 2019: Successor Predecessor Successor Predecessor (Dollars and shares in millions, Three Months Ended Three Months Ended Six Months Ended Six Months Ended except per share amounts) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Net Loss Attributable to Weatherford $ (581) $ (316) $ (1,547) $ (797) Basic and Diluted weighted average shares outstanding 70 1,004 70 1,003 Basic and Diluted Loss Per Share Attributable to Weatherford $ (8.30) $ (0.31) $ (22.10) $ (0.79) 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 both the three and six months ended June 30, 2020 exclude 8 million potential ordinary shares, and the three and six months ended June 30, 2019 exclude 211 million and 231 million potential ordinary shares, respectively, 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	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue by Product Line and Geographic Region Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. During the second quarter of 2020 to support the streamlining and realignment of the businesses, we combined our prior reported four product lines into two product lines, and all prior periods have been retrospectively recast to conform to this new presentation. Our two primary product lines are as follows: (1) Production and Completions and (2) Drilling, Evaluation and Intervention. Our new combined Production and Completion product line was previously reported as two separate product lines. Our new Drilling, Evaluation and Intervention product line was previously reported as two separate product lines of Drilling and Evaluation and Well Construction. 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. Equipment rental revenues, which are included in Products revenues, recognized under ASC 842 were $32 million and $89 million for the three and six months Successor Periods ended June 30, 2020 and $84 million and $162 million for the three and six months Predecessor Periods ended June 30, 2019. The following tables disaggregate our product and service revenues from contracts with customers by major product line and geographic region for the three and six months ended June 30, 2020 and 2019. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Product Line Revenue by Hemisphere: Production and Completions $ 165 $ 371 $ 462 $ 750 Drilling, Evaluation and Intervention 145 348 436 695 Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Production and Completions $ 240 $ 265 $ 542 $ 527 Drilling, Evaluation and Intervention 271 325 596 683 Eastern Hemisphere $ 511 $ 590 $ 1,138 $ 1,210 Total Revenue $ 821 $ 1,309 $ 2,036 $ 2,655 Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Revenue by Geographic Areas: North America $ 172 $ 420 $ 513 $ 876 Latin America 138 299 385 569 Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Middle East & North Africa and Asia $ 341 $ 362 $ 744 $ 752 Europe/Sub-Sahara Africa/Russia 170 228 394 458 Eastern Hemisphere $ 511 $ 590 $ 1,138 $ 1,210 Total Revenues $ 821 $ 1,309 $ 2,036 $ 2,655 The following table provides information about receivables for product and services included in Accounts Receivable, Net, Contrast Assets and Contract Liabilities at June 30, 2020 and December 31, 2019. (Dollars in millions) 6/30/2020 12/31/2019 Receivables for Product and Services in Accounts Receivable, Net $ 884 $ 1,156 Receivables for Equipment Rentals in Account Receivable, Net $ 43 $ 85 Contract Assets $ 2 $ 3 Contract Liabilities $ 34 $ 12 Revenue recognized for the six months ended June 30, 2020 that were included in the contract liabilities balance at the beginning of 2020 was $5 million. 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 June 30, 2020 primarily relate to subsea services and an artificial lift contract. (Dollars in millions) 2020 2021 2022 2023 Thereafter Total Service Revenue $ 43 $ 27 $ 33 $ 32 $ 35 $ 170

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Financial information by segment is summarized below. 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 Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Revenue: Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Eastern Hemisphere 511 590 1,138 $ 1,210 Total Revenue $ 821 $ 1,309 $ 2,036 $ 2,655 Operating Income (Loss): Western Hemisphere $ (23) 11 $ 6 $ 20 Eastern Hemisphere 15 28 33 48 Total Segment Operating Income (Loss) (8) 39 39 68 Impairment and Other Charges (a) (b) (463) (239) (1,306) (535) Corporate (26) (32) (52) (64) Gain on Sale of Businesses, Net (c) — 114 — 112 Total Operating Loss $ (497) $ (118) $ (1,319) $ (419) Interest Expense, Net (59) (160) (117) (315) Reorganization Items — — (9) — Other Expense, Net (11) (1) (36) (10) Loss Before Income Taxes $ (567) $ (279) $ (1,481) $ (744) (a) In the three and six months ended June 30, 2020, includes the impairment on goodwill, property, plant and equipment, intangibles and right of use assets, inventory excess and obsolete charges (in the second quarter of 2020), and restructuring and other charges, due to the decline in oil and gas commodity demand in our industry. See “Note 4 – Inventories, Net”, “Note 6 - Long-Lived Asset Impairments”, “Note 7 – Goodwill and Intangible Assets”, and “Note 8 – Restructuring, Facility Consolidation and Severance Charges” for additional information. (b) In the three and six months ended June 30, 2019, includes prepetition charges for professional and other fees related to the Predecessor bankruptcy cases, goodwill and asset impairments and other fees, partially offset by a reduction of a contingency reserve on a legacy contract (in the first quarter of 2019). (c) Primarily includes the gain on sale of our laboratory services business in the second quarter of 2019. The following table presents total assets by segment at for each period presented: (Dollars in millions) 6/30/2020 12/31/2019 Western Hemisphere $ 1,761 $ 2,514 Eastern Hemisphere 3,426 4,392 Corporate 222 387 Total $ 5,409 $ 7,293

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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 Successor three and six months ended June 30, 2020, we recognized tax expense of $12 million and $56 million, respectively, on a loss before income taxes of $567 million and $1.5 billion, respectively, as compared to the Predecessor three and six months ended June 30, 2019 where we recognized tax expense of $33 million and $45 million, respectively, on a loss before income taxes of $279 million and $744 million, respectively. Tax expense for the three and six months ended June 30, 2020 and 2019 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. Tax expense for the six months ended June 30, 2020 includes $20 million recorded in the first quarter of 2020 to recognize valuation allowance in jurisdictions where we are no longer able to forecast taxable income. We routinely undergo 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 June 30, 2020, we anticipate that it is reasonably possible that our uncertain tax positions of $210 million may decrease by up to $2 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	17. Subsequent Event Senior Secured First Lien Notes In an effort to proactively address potential liquidity constraints, on August 4, 2020 we executed a binding commitment letter for $500 million in senior secured first lien notes, with a stated interest rate of 8.75% (“New Senior Secured Notes”) that would mature in September 2024. The commitment letter, which was originally scheduled to expire on August 14, 2020, has been extended to August 21, 2020. The extension of the binding commitment letter allows additional time for the conditions specified in the binding commitment letter to be satisfied or waived and the notes to be issued, which will improve our liquidity. The purchasers’ obligations to purchase the New Senior Secured Notes under the commitment letter are subject to certain conditions precedent, including, among others, (a) execution and delivery of all documentation related to the New Senior Secured Notes (subject to post-closing periods to be agreed for certain security matters), (b) execution and delivery of an amendment to the LC Credit Agreement in form and substance satisfactory to the purchasers, which, among other things, shall permit the issuance of the New Senior Secured Notes on the terms contemplated in the commitment letter, (c) execution and delivery of an intercreditor agreement between the trustee for the New Senior Secured Notes and the agent under the LC Credit Agreement, in form and substance reasonably satisfactory to the purchasers, and (d) execution and delivery of a customary notes purchase agreement in form and substance reasonably satisfactory to the purchasers. There can be no assurance that the conditions precedent to consummating the financing transaction, many of which are beyond our control, will be fully satisfied or waived before the binding commitment letter expires on August 21, 2020. If the conditions precedent cannot be satisfied and are not waived by such date, there are no assurances that the purchasers will further extend such expiration date. Additionally, under such circumstances, there can be no assurance that we would be able to obtain alternative financing to the transactions contemplated by the binding commitment letter. To the extent we are not able to obtain alternative financing to replace the ABL Credit Agreement, any event of default under the ABL Credit Agreement could result in the obligations under the ABL Credit Agreement, the LC Credit Agreement and the Exit Notes being accelerated, which could have a material adverse effect on our business, financial condition and results of operations.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 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”) have been 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 consolidated 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”). The preparation of the financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Ultimate results could differ from our estimates.
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 Weatherford and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. Our 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 and six months ended June 30, 2019 have been made to conform to the presentation for the three and six months ended June 30, 2020. Please refer to “Note 2 – New Accounting Pronouncements” for changes to our accounting policies.
Impact of COVID-19 and Oil Price Declines on Our Operations and Liquidity	Impact of COVID-19 Pandemic and Oil Price Declines on Our Operations and Liquidity The COVID-19 pandemic, customer activity shutdowns, travel constraints and access restrictions to customer work locations have created significant uncertainty for the global economy as well as for the trajectory of the industry and the Company, lowering expectations of oil and gas related spending throughout the remainder of 2020 and beyond, resulting in a significant decline in the global demand for oil and gas. This caused an imbalance in supply and demand for oil and gas, as well as demand destruction for oil and gas. The demand destruction associated with the COVID-19 pandemic caused commodity price uncertainty and correspondingly, significant activity declines in the industry. The impacts of the COVID-19 pandemic together with uncertainty around the extent and timing for an economic recovery, have caused extreme market volatility of commodity prices and resulted in significant reductions to the capital spending of exploration and production companies. Although the price and demand of oil and gas stabilized somewhat during the second quarter of 2020, we do not expect the industry to recover in the near term. 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. In addition, continued negative sentiment for the energy industry in the capital markets has impacted demand for our products and services, as our customers, particularly those in North America, have experienced challenges securing appropriate amounts of capital under suitable terms to finance their operations. The global impacts surrounding the COVID-19 pandemic, including operational and manufacturing disruptions, logistical constraints and travel restrictions, are constantly evolving. 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, shipping and other logistical delays and disruptions, customer restrictions that prevent access to their sites, community measures to contain the spread of the virus, and changes to Weatherford’s policies that have both restricted and changed 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 caused commodity price uncertainty and correspondingly, significant activity declines in the industry. Revenue in the second quarter of 2020 declined 37% compared to the second quarter of 2019 and 32% sequentially due to lower business activity resulting from the factors described above. Demand for our products and services have weakened and we continue to expect lower than normal demand for our products and services through the remainder of 2020 and, potentially, 2021. As a result, our financial outlook for the remainder of the year, has been and continues to be materially and negatively impacted. We continue to anticipate significant constraints on our ability to generate revenues, profits and cash flows. We anticipate a multi-year (2020 to 2021 and potentially beyond) dislocation across the industry, particularly in North America, Europe, Latin America and Sub Saharan Africa. Entering 2020, we had taken a number of actions that were yielding improvements in our cost structure. In the second quarter of 2020, we implemented more aggressive actions to right-size our business to address current market conditions. At June 30, 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. Given the material decline in our business as a result of the decrease in demand for oil and gas worldwide, we expect that a breach of our covenants under our ABL Credit Agreement could occur in the first half of 2021. See discussion below under the subheading “ Liquidity Concerns and Actions to Address Liquidity Needs; Going Concern ” for further details regarding a potential covenant breach.
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, the global economy, and the oil and gas industry for 2020 and beyond is having a negative impact on our business. As a result of these impacts, in the second quarter of 2020, we increased and accelerated our workforce reduction plan, reduced certain management and employee pay, reduced other operating costs, and initiated further consolidation of our operations. Many of these cost reduction actions, like workforce reduction and temporary pay reductions, have been extended into the third quarter of 2020. Despite the actions of management, given the material decline in our business as a result of the decline in demand for oil and gas worldwide, we expect that a breach of our covenants under our ABL Credit Agreement could occur in the first half of 2021. A breach of these financial covenants would constitute an event of default under our ABL Credit Agreement which if not timely cured or waived, would constitute an event of default under our LC Credit Agreement and our unsecured 11% senior notes due 2024 (“Exit Notes”) as described in “Note 9 – Borrowings and Other Obligations” to our Condensed Consolidated Financial Statements. An event of default under these agreements would result in the obligations under these agreements being accelerated or required to be cash collateralized. Such result would constrain our liquidity and we may not be able to service the interest on our debt or pay other obligations and thus, raises substantial doubt on our ability to continue as a going concern within the next 12 months. The Condensed 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. In an effort to proactively address potential liquidity constraints, on August 4, 2020 we executed a binding commitment letter for $500 million in senior secured first lien notes, with a stated interest rate of 8.75% (“New Senior Secured Notes”) that would mature in September 2024. The commitment letter, which was originally scheduled to expire on August 14, 2020, has been extended to August 21, 2020. The extension of the binding commitment letter allows additional time for the conditions specified in the binding commitment letter to be satisfied or waived and the notes to be issued, which will improve our liquidity. See “Note 17 – Subsequent Event” to the Condensed Consolidated Financial Statements for further details.
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. We estimate expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Our customer base has generally similar collectability risk characteristics, although risk profiles can vary between larger independent customers and state-owned customers, which may have a lower risk than smaller independent customers. 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 of this standard update did not have a material impact on our Condensed Consolidated Financial Statements.

Accounts Receivable Factoring A

Accounts Receivable Factoring Accounts Receivable Factoring (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Accounts Receivable Factoring	The following table presents accounts receivable sold and cash proceeds from the sale of accounts receivable. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 June 30, 2019 Accounts Receivable Sold $ 17 $ 78 $ 23 $ 162 Cash Proceeds from Sale of Accounts Receivable $ 15 $ 71 $ 21 $ 152

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Components of Inventory	Inventories, net of reserves of $137 million and $0 as of June 30, 2020 and December 31, 2019, respectively by category were as follows: (Dollars in millions) 6/30/2020 12/31/2019 Finished Goods $ 752 $ 830 Work in Process and Raw Materials, Components and Supplies 110 142 $ 862 $ 972

Long-Lived Asset Impairments _2

Long-Lived Asset Impairments and Other (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Impairment of Long-Lived Assets	The table below details the Successor long-lived asset impairment by asset and segment: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Western Hemisphere Eastern Hemisphere Total Property, Plant and Equipment $ 94 $ 47 $ 141 $ 316 $ 255 $ 571 Intangible Assets 13 9 22 44 115 159 Right of Use Assets 7 8 15 56 32 88 Total Impairment Charges $ 114 $ 64 $ 178 $ 416 $ 402 $ 818

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reporting segment at June 30, 2020, are presented in the following table. (Dollars in millions) Western Hemisphere Eastern Hemisphere Total Balance at December 31, 2019 $ — $ 239 $ 239 Impairment — (239) (239) Balance at June 30, 2020 $ — $ — $ —
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) 6/30/2020 12/31/2019 Developed and Acquired Technology $ 502 $ 721 Trade Names 373 393 Totals $ 875 $ 1,114

Restructuring, Facility Conso_2

Restructuring, Facility Consolidation and Severance Charges (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table presents restructuring and severance charges for the Successor Period and Predecessor Period. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Severance Charges $ 55 $ 1 $ 78 $ 3 Facility Consolidation and Other Charges 2 15 5 29 Asset Related Charges (non-cash) — 4 — 8 Total Restructuring and Severance Charges $ 57 $ 20 $ 83 $ 40 The following table presents total restructuring and severance charges by reporting segment and Corporate for the Successor Period and Predecessor Period. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Western Hemisphere $ 26 $ 10 $ 41 $ 15 Eastern Hemisphere 11 2 17 7 Corporate 20 8 25 18 $ 57 $ 20 $ 83 $ 40
Schedule of Restructuring Reserve by Type of Cost	The following table presents total restructuring and severance accrual activity charges, payments and other changes for the Successor Period ended June 30, 2020. (Dollars in millions) Accrued Balance at December 31, 2019 Charges Cash Payments Other Accrued Balance at June 30, 2020 Restructuring and Severance Reserve $ 66 $ 83 $ (75) $ (12) $ 62

Borrowings and Other Obligati_2

Borrowings and Other Obligations (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Short-term Debt and Other Debt Obligations	(Dollars in millions) 6/30/2020 12/31/2019 Finance Lease Current Portion $ 8 $ 10 Other Short-term Loans 24 3 Short-term Borrowings $ 32 $ 13 Long-term Debt $ 2,148 $ 2,151
Fair Value,of Short and Long-term Borrowings	(Dollars in millions) 6/30/2020 12/31/2019 Fair Value $ 1,461 $ 2,252 Carrying Value 2,098 2,097

Shareholders' Equity (Deficie_2

Shareholders' Equity (Deficiency) (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Stockholders' Equity	The following summarizes our shareholders’ equity (deficiency) activity for the three and six months ended June 30, 2020 and 2019. (Dollars in Millions) Par Value of Issued Shares Capital in Excess of Par Value Retained 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 Net Income (Loss) — — (581) — 2 (579) Other Comprehensive Loss — — — 29 — 29 Dividends to Noncontrolling Interests — — — — (8) (8) Balance at June 30, 2020 (Successor) $ — $ 2,897 $ (1,573) $ (57) $ 38 $ 1,305 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 to Noncontrolling Interests — — — — (5) (5) 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) Net Income (Loss) — — (316) — 4 (312) Other Comprehensive Income — — — 30 — 30 Dividends to Noncontrolling Interests — — — — (6) (6) Awards Granted, Vested and Exercised — 5 — — — 5 Balance at June 30, 2019 (Predecessor) $ 1 $ 6,724 $ (9,468) $ (1,683) $ 37 $ (4,389)
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in our accumulated other comprehensive income (loss) by component for the six months ended June 30, 2020 for the Successor and six months ended June 30, 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 $ (66) $ — $ — $ (66) Balance at June 30, 2020 (Successor) $ (59) $ 2 $ — $ (57) Balance at December 31, 2018 (Predecessor) $ (1,724) $ (14) $ (8) $ (1,746) Other Comprehensive Income 63 — — 63 Balance at June 30, 2019 (Predecessor) $ (1,661) $ (14) $ (8) $ (1,683)

Loss per Share (Tables)

Loss per Share (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2020 and 2019: Successor Predecessor Successor Predecessor (Dollars and shares in millions, Three Months Ended Three Months Ended Six Months Ended Six Months Ended except per share amounts) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Net Loss Attributable to Weatherford $ (581) $ (316) $ (1,547) $ (797) Basic and Diluted weighted average shares outstanding 70 1,004 70 1,003 Basic and Diluted Loss Per Share Attributable to Weatherford $ (8.30) $ (0.31) $ (22.10) $ (0.79)

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2020 and 2019. Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Product Line Revenue by Hemisphere: Production and Completions $ 165 $ 371 $ 462 $ 750 Drilling, Evaluation and Intervention 145 348 436 695 Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Production and Completions $ 240 $ 265 $ 542 $ 527 Drilling, Evaluation and Intervention 271 325 596 683 Eastern Hemisphere $ 511 $ 590 $ 1,138 $ 1,210 Total Revenue $ 821 $ 1,309 $ 2,036 $ 2,655 Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Revenue by Geographic Areas: North America $ 172 $ 420 $ 513 $ 876 Latin America 138 299 385 569 Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Middle East & North Africa and Asia $ 341 $ 362 $ 744 $ 752 Europe/Sub-Sahara Africa/Russia 170 228 394 458 Eastern Hemisphere $ 511 $ 590 $ 1,138 $ 1,210 Total Revenues $ 821 $ 1,309 $ 2,036 $ 2,655
Schedule of Contract with Customer, Asset and Liability	The following table provides information about receivables for product and services included in Accounts Receivable, Net, Contrast Assets and Contract Liabilities at June 30, 2020 and December 31, 2019. (Dollars in millions) 6/30/2020 12/31/2019 Receivables for Product and Services in Accounts Receivable, Net $ 884 $ 1,156 Receivables for Equipment Rentals in Account Receivable, Net $ 43 $ 85 Contract Assets $ 2 $ 3 Contract Liabilities $ 34 $ 12
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 June 30, 2020 primarily relate to subsea services and an artificial lift contract. (Dollars in millions) 2020 2021 2022 2023 Thereafter Total Service Revenue $ 43 $ 27 $ 33 $ 32 $ 35 $ 170

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Financial information by segment	Financial information by segment is summarized below. 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 Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended (Dollars in millions) 6/30/2020 6/30/2019 6/30/2020 6/30/2019 Revenue: Western Hemisphere $ 310 $ 719 $ 898 $ 1,445 Eastern Hemisphere 511 590 1,138 $ 1,210 Total Revenue $ 821 $ 1,309 $ 2,036 $ 2,655 Operating Income (Loss): Western Hemisphere $ (23) 11 $ 6 $ 20 Eastern Hemisphere 15 28 33 48 Total Segment Operating Income (Loss) (8) 39 39 68 Impairment and Other Charges (a) (b) (463) (239) (1,306) (535) Corporate (26) (32) (52) (64) Gain on Sale of Businesses, Net (c) — 114 — 112 Total Operating Loss $ (497) $ (118) $ (1,319) $ (419) Interest Expense, Net (59) (160) (117) (315) Reorganization Items — — (9) — Other Expense, Net (11) (1) (36) (10) Loss Before Income Taxes $ (567) $ (279) $ (1,481) $ (744) (a) In the three and six months ended June 30, 2020, includes the impairment on goodwill, property, plant and equipment, intangibles and right of use assets, inventory excess and obsolete charges (in the second quarter of 2020), and restructuring and other charges, due to the decline in oil and gas commodity demand in our industry. See “Note 4 – Inventories, Net”, “Note 6 - Long-Lived Asset Impairments”, “Note 7 – Goodwill and Intangible Assets”, and “Note 8 – Restructuring, Facility Consolidation and Severance Charges” for additional information. (b) In the three and six months ended June 30, 2019, includes prepetition charges for professional and other fees related to the Predecessor bankruptcy cases, goodwill and asset impairments and other fees, partially offset by a reduction of a contingency reserve on a legacy contract (in the first quarter of 2019). (c) Primarily includes the gain on sale of our laboratory services business in the second quarter of 2019. The following table presents total assets by segment at for each period presented: (Dollars in millions) 6/30/2020 12/31/2019 Western Hemisphere $ 1,761 $ 2,514 Eastern Hemisphere 3,426 4,392 Corporate 222 387 Total $ 5,409 $ 7,293

General Liquidity Concerns (Det

General Liquidity Concerns (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Aug. 04, 2020	Dec. 12, 2019
Percentage Of Revenue Decrease	37.00%	32.00%
ABL Credit Agreement
Other Borrowings	$ 20
Exit Notes, 11.00 Percent Due 2024 | Senior Notes
Stated interest rate on debt				11.00%
Face amount of debt				$ 2,100
Senior Notes 8.75 Percent Due 2024 [Member] | Senior Notes | Subsequent Event
Stated interest rate on debt			8.75%
Face amount of debt			$ 500

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Receivables [Abstract]
Accounts Receivable Sold	$ 17	$ 78	$ 23	$ 162
Cash Proceeds from Sale of Accounts Receivable	$ 15	$ 71	$ 21	$ 152

Inventories, Net (Schedule of I

Inventories, Net (Schedule of Inventory) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished Goods	$ 752	$ 830
Work in Process and Raw Materials, Components and Supplies	110	142
Inventories, Net	$ 862	$ 972

Inventories, Net Inventory Narr

Inventories, Net Inventory Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventory valuation reserves	$ 137		$ 137		$ 0
Inventory charges	$ 134	$ 0	$ 134	$ 0

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Joint Venture in Qatar
Business Acquisition [Line Items]
Cash	$ 12	$ 12

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Divestitures (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposition of business	$ 0	$ (114)	$ 0	$ (112)
Discontinued Operations, Disposed of by Sale | Disposed Reservoir Solutions and Surface Data Logging Businesses [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred		256		256
Loss on disposition of business				117
Divestitures, assets		95		95
Discontinued Operations, Disposed of by Sale | Land Drilling Rigs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred		$ 288		288	$ 72
Loss on disposition of business				$ 6
Divestitures, assets	$ 66		$ 66

Long-Lived Asset Impairments _3

Long-Lived Asset Impairments and Other - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Total Impairment Charges	$ 178		$ 818
Long-lived asset impairment	178	$ 13	$ 818	$ 20
Quantifying misstatement in current year financial statements, amount	$ 65

Long-Lived Asset Impairments _4

Long-Lived Asset Impairments and Other - Impairment of Long Lived Assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	$ 141	$ 571
Intangible Assets	22	159
Right of Use Assets	15	88
Total Impairment Charges	178	818
Western Hemisphere
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	94	316
Intangible Assets	13	44
Right of Use Assets	7	56
Total Impairment Charges	114	416
Eastern Hemisphere
Impaired Long-Lived Assets Held and Used [Line Items]
Property, Plant and Equipment	47	255
Intangible Assets	9	115
Right of Use Assets	8	32
Total Impairment Charges	$ 64	$ 402

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill [Roll Forward]
Balance at December 31, 2019		$ 239		$ 239
Goodwill Impairment	$ (72)	(167)	$ (102)	(239)	$ (331)
Balance at June 30, 2020	$ 0			0
Western Hemisphere
Goodwill [Roll Forward]
Balance at December 31, 2019		0		0
Goodwill Impairment				0
Eastern Hemisphere
Goodwill [Roll Forward]
Balance at December 31, 2019		$ 239		239
Goodwill Impairment				$ (239)

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets Goodwill Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill [Line Items]
Goodwill Impairment	$ 72	$ 167	$ 102	$ 239	$ 331
Middle East and North Africa
Goodwill [Line Items]
Goodwill Impairment				127
Russia
Goodwill [Line Items]
Goodwill Impairment				$ 112

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Totals	$ 875		$ 1,114
Developed and Acquired Technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	502		721
Totals		$ 159
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 373		$ 393

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets Intangible Asset Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Totals	$ 875		$ 875			$ 1,114
Amortization of intangible assets	40	$ 16	86	$ 32
Accumulated amortization	95		95			$ 9
Developed and Acquired Technology
Finite-Lived Intangible Assets [Line Items]
Totals					$ 159
Accumulated amortization	73		73
Trade Names
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 22		$ 22

Restructuring, Facility Conso_3

Restructuring, Facility Consolidation and Severance Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 57	$ 20	$ 83	$ 40
Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 57	$ 20	$ 83	$ 40

Restructuring, Facility Conso_4

Restructuring, Facility Consolidation and Severance Charges (Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	$ 57	$ 20	$ 83	$ 40
Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	57	20	83	40
Restructuring Charges | Western Hemisphere
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	26	10	41	15
Restructuring Charges | Eastern Hemisphere
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	11	2	17	7
Restructuring Charges | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Severance, asset impairment and other restructuring charges	20	8	25	18
Restructuring Charges | Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	55	1	78	3
Restructuring Charges | Facility Consolidation and Other Charges
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	2	15	5	29
Restructuring Charges | Asset Related Charges
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	$ 0	$ 4	$ 0	$ 8

Restructuring, Facility Conso_5

Restructuring, Facility Consolidation and Severance Charges (Restructuring Liability) (Details) - Severance and Other Restructuring Liabilities $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of period	$ 66
Restructuring Charges	83
Cash Payments	(75)
Other	(12)
Accrued balance at end of period	$ 62

Borrowings and Other Obligati_3

Borrowings and Other Obligations (Schedule of Short-term Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Other Short-term Loans	$ 32	$ 13
Short-term Borrowings	32	13
Long-term Debt	2,148	2,151
Other short-term bank loans
Short-term Debt [Line Items]
Finance Lease Current Portion	8	10
Other Short-term Loans	$ 24	$ 3

Borrowings and Other Obligati_4

Borrowings and Other Obligations (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 12, 2019
Short-term Debt [Line Items]
Debt instrument, unused borrowing capacity, amount	$ 91
Short-term Borrowings and Current Portion of Long-term Debt	32	$ 13
Debt Instrument Covenant Debt Amount in Excess Default	75
A&R Credit Agreement Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	123
LC Credit Agreement Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	129
Other short-term bank loans
Short-term Debt [Line Items]
Short-term Borrowings and Current Portion of Long-term Debt	24	3
Committed Letters of Credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount		$ 335
Letters of credit outstanding, cash collateral	72
Committed letters of credit
Short-term Debt [Line Items]
Letters of credit outstanding, amount	83
ABL Credit Agreement
Short-term Debt [Line Items]
Credit agreement, maximum capacity			$ 450
Other Borrowings	$ 20
LC Credit Agreement
Short-term Debt [Line Items]
Credit agreement, maximum capacity			$ 195
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

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	Jun. 30, 2020	Dec. 31, 2019
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 1,461	$ 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	3 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, held-to-maturity	$ 45	$ 50
Proceeds from Sale and Maturity of Held-to-maturity Securities	5
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	1,461	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	12 Months Ended
	Dec. 31, 2010lawsuit	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Loss Contingencies [Line Items]
Estimated litigation liability | $		$ 40	$ 44
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				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	$ 1,863	$ 2,916	$ (4,106)	$ (3,666)	$ 2,916	$ (3,666)
Net Income (Loss)	(579)	(958)	(312)	(477)	(1,537)	(789)
Other Comprehensive Income	29	(95)	30	33
Dividends Paid to Noncontrolling Interests	(8)		(6)	(5)
Equity Awards Granted, Vested and Exercised			5	8
Other				1
Balance, ending balance	1,305	1,863	(4,389)	(4,106)	1,305	(4,389)
Par Value of Issued Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	0	0	1	1	0	1
Balance, ending balance	0	0	1	1	0	1
Capital in Excess of Par Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	2,897	2,897	6,719	6,711	2,897	6,711
Equity Awards Granted, Vested and Exercised			5	8
Balance, ending balance	2,897	2,897	6,724	6,719	2,897	6,724
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	(992)	(26)	(9,152)	(8,671)	(26)	(8,671)
Net Income (Loss)	(581)	(966)	(316)	(481)
Balance, ending balance	(1,573)	(992)	(9,468)	(9,152)	(1,573)	(9,468)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	(86)	9	(1,713)	(1,746)	9	(1,746)
Other Comprehensive Income	29	(95)	30	33
Balance, ending balance	(57)	(86)	(1,683)	(1,713)	(57)	(1,683)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning balance	44	36	39	39	36	39
Net Income (Loss)	2	8	4	4
Dividends Paid to Noncontrolling Interests	(8)		(6)	(5)
Other				1
Balance, ending balance	$ 38	$ 44	$ 37	$ 39	$ 38	$ 37

Shareholders' Equity (Deficie_4

Shareholders' Equity (Deficiency) (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 9	$ (1,746)
Other Comprehensive Income	(66)	63
Ending balance	(57)	(1,683)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	7	(1,724)
Other Comprehensive Income	(66)	63
Ending balance	(59)	(1,661)
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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Loss Attributable to Weatherford	$ (581)	$ (316)	$ (1,547)	$ (797)
Weighted Average Shares Outstanding, Basic and Diluted (in shares)	70	1,004	70	1,003
Loss Per Share, Basic & Diluted (in dollars per share)	$ (8.30)	$ (0.31)	$ (22.10)	$ (0.79)

Loss per Share (Antidilutive Sh

Loss per Share (Antidilutive Shares) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,000	211,000	8,000	231,000

Revenues - Major Product Line (

Revenues - Major Product Line (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Operating Leases, Income Statement, Lease Revenue	$ 32	$ 84	$ 89	$ 162
Disaggregation of Revenue [Line Items]
Revenue	821	1,309	2,036	2,655
Western Hemisphere
Disaggregation of Revenue [Line Items]
Revenue	310	719	898	1,445
Western Hemisphere | Production and Completions [Member]
Disaggregation of Revenue [Line Items]
Revenue	165	371	462	750
Western Hemisphere | Drilling Evaluation and Intervention [Member]
Disaggregation of Revenue [Line Items]
Revenue	145	348	436	695
Eastern Hemisphere
Disaggregation of Revenue [Line Items]
Revenue	511	590	1,138	1,210
Eastern Hemisphere | Production and Completions [Member]
Disaggregation of Revenue [Line Items]
Revenue	240	265	542	527
Eastern Hemisphere | Drilling Evaluation and Intervention [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 271	$ 325	$ 596	$ 683

Revenues - Geographic Areas (De

Revenues - Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 821	$ 1,309	$ 2,036	$ 2,655
Western Hemisphere
Disaggregation of Revenue [Line Items]
Revenue	310	719	898	1,445
Western Hemisphere | North America
Disaggregation of Revenue [Line Items]
Revenue	172	420	513	876
Western Hemisphere | Latin America
Disaggregation of Revenue [Line Items]
Revenue	138	299	385	569
Eastern Hemisphere
Disaggregation of Revenue [Line Items]
Revenue	511	590	1,138	1,210
Eastern Hemisphere | Middle East & North Africa and Asia
Disaggregation of Revenue [Line Items]
Revenue	341	362	744	752
Eastern Hemisphere | Europe/Sub-Sahara Africa/Russia
Disaggregation of Revenue [Line Items]
Revenue	$ 170	$ 228	$ 394	$ 458

Revenues - Receivables (Details

Revenues - Receivables (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Receivables for Product and Services in Accounts Receivable, Net	$ 884	$ 1,156
Equipment Receivables	43	85
Contract Assets	2	3
Contract Liabilities	34	$ 12
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	$ 5

Revenues - Expected to be Recog

Revenues - Expected to be Recognized in Future (Details) $ in Millions	Jun. 30, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
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]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Service Revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	$ 170
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	43
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	27
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	33
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	32
Service Revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service Revenue	$ 35

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 821	$ 1,309	$ 2,036	$ 2,655
Operating Income (Loss)	(497)	(118)	(1,319)	(419)
Other Cost and Expense, Operating	(22)	(28)	(32)	(58)
Gain on Sale of Businesses, Net	0	(114)	0	(112)
Interest Expense, Net	59	160	117	315
Reorganization Items	0	0	9	0
Other Expense, Net	(11)	(1)	(36)	(10)
Loss Before Income Taxes	(567)	(279)	(1,481)	(744)
Total Assets	5,409		5,409		$ 7,293
Operating Segments
Segment Reporting Information [Line Items]
Revenue	821	1,309	2,036	2,655
Operating Income (Loss)	(8)	39	39	68
Other Cost and Expense, Operating	(463)	(239)	(1,306)	(535)
Operating Segments | Western Hemisphere
Segment Reporting Information [Line Items]
Revenue	310	719	898	1,445
Operating Income (Loss)	(23)	11	6	20
Total Assets	1,761		1,761		2,514
Operating Segments | Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue	511	590	1,138	1,210
Operating Income (Loss)	15	28	33	48
Total Assets	3,426		3,426		4,392
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Corporate	(26)	$ (32)	(52)	$ (64)
Total Assets	$ 222		$ 222		$ 387

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 12	$ 33	$ 56	$ 45
Loss before income taxes	567	$ 279	1,481	$ 744
Tax Credit Carryforward, Valuation Allowance	20		20
Unrecognized Tax Benefits	210		210
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 2		$ 2

Subsequent Events (Details)

Subsequent Events (Details) - Senior Notes - USD ($) $ in Billions	Aug. 04, 2020	Dec. 12, 2019
Exit Notes, 11.00 Percent Due 2024
Subsequent Events [Abstract]
Face amount of debt		$ 2.1
Subsequent Event [Line Items]
Face amount of debt		$ 2.1
Debt Instrument, Interest Rate, Stated Percentage		11.00%
Senior Notes 8.75 Percent Due 2024 [Member] | Subsequent Event
Subsequent Events [Abstract]
Face amount of debt	$ 0.5
Subsequent Event [Line Items]
Face amount of debt	$ 0.5
Debt Instrument, Interest Rate, Stated Percentage	8.75%