$WFRD
Weatherford International plc

2017 Q2 Form 10-Q Financial Statement

#000160392317000107 Filed on August 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.363B $1.402B
YoY Change -2.78% -41.34%
Cost Of Revenue $716.0M $725.0M
YoY Change -1.24% -40.28%
Gross Profit $174.0M $164.0M
YoY Change 6.1% -56.15%
Gross Profit Margin 12.77% 11.7%
Selling, General & Admin $244.0M $264.0M
YoY Change -7.58% -32.65%
% of Gross Profit 140.23% 160.98%
Research & Development $36.00M $41.00M
YoY Change -12.2% -30.51%
% of Gross Profit 20.69% 25.0%
Depreciation & Amortization $204.0M $249.0M
YoY Change -18.07% -19.94%
% of Gross Profit 117.24% 151.83%
Operating Expenses $36.00M $41.00M
YoY Change -12.2% -30.51%
Operating Profit -$145.0M -$460.0M
YoY Change -68.48% -0.86%
Interest Expense -$138.0M -$119.0M
YoY Change 15.97% 1.71%
% of Operating Profit
Other Income/Expense, Net $8.000M -$7.000M
YoY Change -214.29% -450.0%
Pretax Income -$148.0M -$664.0M
YoY Change -77.71% 7.97%
Income Tax $17.00M -$102.0M
% Of Pretax Income
Net Earnings -$171.0M -$565.0M
YoY Change -69.73% 15.54%
Net Earnings / Revenue -12.55% -40.3%
Basic Earnings Per Share -$0.17 -$0.63
Diluted Earnings Per Share -$0.17 -$0.63
COMMON SHARES
Basic Shares Outstanding 990.0M shares 899.0M shares
Diluted Shares Outstanding 990.0M shares 899.0M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $584.0M $452.0M
YoY Change 29.2% -26.02%
Cash & Equivalents $584.0M $452.0M
Short-Term Investments
Other Short-Term Assets $408.0M $480.0M
YoY Change -15.0% -50.92%
Inventory $1.728B $2.195B
Prepaid Expenses $233.0M $302.0M
Receivables $1.165B $1.484B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.047B $5.049B
YoY Change -0.04% -28.52%
LONG-TERM ASSETS
Property, Plant & Equipment $4.111B $5.247B
YoY Change -21.65% -21.62%
Goodwill $2.293B $2.852B
YoY Change -19.6% -3.16%
Intangibles $234.0M $330.0M
YoY Change -29.09% -15.38%
Long-Term Investments $63.00M $65.00M
YoY Change -3.08% -19.75%
Other Assets $304.0M $569.0M
YoY Change -46.57% 23.7%
Total Long-Term Assets $7.005B $9.063B
YoY Change -22.71% -14.26%
TOTAL ASSETS
Total Short-Term Assets $5.047B $5.049B
Total Long-Term Assets $7.005B $9.063B
Total Assets $12.05B $14.11B
YoY Change -14.6% -19.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $837.0M $790.0M
YoY Change 5.95% -28.44%
Accrued Expenses $295.0M $338.0M
YoY Change -12.72% -17.56%
Deferred Revenue
YoY Change
Short-Term Debt $7.000M $120.0M
YoY Change -94.17% -89.55%
Long-Term Debt Due $145.0M $170.0M
YoY Change -14.71% -58.33%
Total Short-Term Liabilities $2.380B $2.528B
YoY Change -5.85% -38.89%
LONG-TERM LIABILITIES
Long-Term Debt $7.538B $6.943B
YoY Change 8.57% 10.77%
Other Long-Term Liabilities $610.0M $454.0M
YoY Change 34.36% -53.77%
Total Long-Term Liabilities $610.0M $454.0M
YoY Change 34.36% -53.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.380B $2.528B
Total Long-Term Liabilities $610.0M $454.0M
Total Liabilities $10.53B $9.925B
YoY Change 6.08% -12.84%
SHAREHOLDERS EQUITY
Retained Earnings -$3.569B -$621.0M
YoY Change 474.72% -134.12%
Common Stock $6.613B $6.251B
YoY Change 5.79% 14.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $1.467B $4.123B
YoY Change
Total Liabilities & Shareholders Equity $12.05B $14.11B
YoY Change -14.6% -19.97%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$171.0M -$565.0M
YoY Change -69.73% 15.54%
Depreciation, Depletion And Amortization $204.0M $249.0M
YoY Change -18.07% -19.94%
Cash From Operating Activities -$62.00M -$134.0M
YoY Change -53.73% -146.05%
INVESTING ACTIVITIES
Capital Expenditures $52.00M $32.00M
YoY Change 62.5% -83.16%
Acquisitions
YoY Change
Other Investing Activities $16.00M -$10.00M
YoY Change -260.0% -150.0%
Cash From Investing Activities -$36.00M -$42.00M
YoY Change -14.29% -75.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 135.0M 165.0M
YoY Change -18.18% -3400.0%
NET CHANGE
Cash From Operating Activities -62.00M -134.0M
Cash From Investing Activities -36.00M -42.00M
Cash From Financing Activities 135.0M 165.0M
Net Change In Cash 37.00M -11.00M
YoY Change -436.36% -109.48%
FREE CASH FLOW
Cash From Operating Activities -$62.00M -$134.0M
Capital Expenditures $52.00M $32.00M
Free Cash Flow -$114.0M -$166.0M
YoY Change -31.33% -264.36%

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CY2017Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
145000000 USD
CY2016Q2 us-gaap Loss Contingency Accrual Provision
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114000000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
181000000 USD
CY2017Q2 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0 USD
CY2016Q4 us-gaap Minority Interest
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56000000 USD
CY2017Q2 us-gaap Minority Interest
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57000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
10000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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415000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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99000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-56000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-315000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-339000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-241000000 USD
CY2016Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-171000000 USD
us-gaap Net Income Loss
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CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10000000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
11000000 USD
CY2017Q1 us-gaap Notes Receivable Fair Value Disclosure
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58000000 USD
CY2016Q2 us-gaap Operating Income Loss
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-460000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-127000000 USD
us-gaap Operating Income Loss
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CY2016Q2 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
70000000 USD
CY2016Q4 us-gaap Other Assets Current
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402000000 USD
CY2017Q2 us-gaap Other Assets Current
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408000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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21000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
41000000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
163000000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
304000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
133000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
74000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
132000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
11000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
74000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
134000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
134000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
33000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
33000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
0 USD
us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
1000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
0 USD
us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
0 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
858000000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
783000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
765000000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
610000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-75000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-72000000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-10000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-21000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
5000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
8000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
9000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
82000000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
263000000 USD
CY2017Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
233000000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
30000000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
623000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3156000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
251000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-25000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-20000000 USD
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
1276000000 USD
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
215000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1381000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-96000000 USD
CY2017Q2 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
59000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
16000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
25000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-562000000 USD
us-gaap Profit Loss
ProfitLoss
-1053000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-165000000 USD
us-gaap Profit Loss
ProfitLoss
-608000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4480000000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4111000000 USD
CY2017Q1 us-gaap Receivable With Imputed Interest Effective Yield Interest Rate
ReceivableWithImputedInterestEffectiveYieldInterestRate
0.046
CY2017Q1 us-gaap Receivable With Imputed Interest Face Amount
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65000000 USD
CY2016Q4 us-gaap Receivables Net Current
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1383000000 USD
CY2017Q2 us-gaap Receivables Net Current
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1165000000 USD
CY2016Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
41000000 USD
CY2017Q2 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
127000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1880000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
36000000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
41000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
86000000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
36000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
75000000 USD
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
51000000 USD
us-gaap Restructuring Charges
RestructuringCharges
128000000 USD
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
31000000 USD
us-gaap Restructuring Charges
RestructuringCharges
106000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2950000000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3569000000 USD
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
479000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1039000000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
488000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
999000000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1402000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2987000000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1363000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2749000000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
923000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1948000000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
875000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1750000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
38000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
41000000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2000000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
7000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
28000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
41000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2012000000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1467000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4365000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4187000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2068000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1524000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
255000000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
223000000 USD
CY2017Q1 us-gaap Trade Receivables Held For Sale Reconciliation To Cash Flow Deductions From Held For Sale
TradeReceivablesHeldForSaleReconciliationToCashFlowDeductionsFromHeldForSale
65000000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2016Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
156000000 USD
CY2017Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
91000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
899000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
856000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
990000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
989000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
899000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
856000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
990000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
989000000 shares
CY2016Q4 wft Accounts Payableand Other Liabilities Current
AccountsPayableandOtherLiabilitiesCurrent
2249000000 USD
CY2017Q2 wft Accounts Payableand Other Liabilities Current
AccountsPayableandOtherLiabilitiesCurrent
2228000000 USD
wft Adjustments Noncash Items Intercompany Charges To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsIntercompanyChargesToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
0 USD
wft Adjustments Noncash Items Intercompany Charges To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsIntercompanyChargesToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
0 USD
CY2016Q2 wft Antidilutive Securities Excludedfrom Computationof Earningsper Share Dueto Net Loss Amount
AntidilutiveSecuritiesExcludedfromComputationofEarningsperShareDuetoNetLossAmount
43000000 shares
wft Antidilutive Securities Excludedfrom Computationof Earningsper Share Dueto Net Loss Amount
AntidilutiveSecuritiesExcludedfromComputationofEarningsperShareDuetoNetLossAmount
24000000 shares
CY2017Q2 wft Antidilutive Securities Excludedfrom Computationof Earningsper Share Dueto Net Loss Amount
AntidilutiveSecuritiesExcludedfromComputationofEarningsperShareDuetoNetLossAmount
250000000 shares
wft Antidilutive Securities Excludedfrom Computationof Earningsper Share Dueto Net Loss Amount
AntidilutiveSecuritiesExcludedfromComputationofEarningsperShareDuetoNetLossAmount
250000000 shares
CY2016Q2 wft Asset Write Downand Other
AssetWriteDownandOther
154000000 USD
wft Asset Write Downand Other
AssetWriteDownandOther
212000000 USD
CY2017Q2 wft Asset Write Downand Other
AssetWriteDownandOther
-12000000 USD
wft Asset Write Downand Other
AssetWriteDownandOther
-15000000 USD
CY2016Q2 wft Bond Tender Premium Net
BondTenderPremiumNet
-78000000 USD
wft Bond Tender Premium Net
BondTenderPremiumNet
-78000000 USD
CY2017Q2 wft Bond Tender Premium Net
BondTenderPremiumNet
0 USD
wft Bond Tender Premium Net
BondTenderPremiumNet
0 USD
wft Foreign Currency Devaluation Lossbefore Tax
ForeignCurrencyDevaluationLossbeforeTax
0 USD
wft Goodwill Reclassificationto Assets Heldfor Sale
GoodwillReclassificationtoAssetsHeldforSale
-555000000 USD
CY2016Q2 wft Income Lossfrom Subsidiary
IncomeLossfromSubsidiary
0 USD
wft Income Lossfrom Subsidiary
IncomeLossfromSubsidiary
0 USD
CY2017Q2 wft Income Lossfrom Subsidiary
IncomeLossfromSubsidiary
0 USD
wft Income Lossfrom Subsidiary
IncomeLossfromSubsidiary
0 USD
wft Increase Decreasein Accrued Litigationand Settlements
IncreaseDecreaseinAccruedLitigationandSettlements
-10000000 USD
wft Increase Decreasein Accrued Litigationand Settlements
IncreaseDecreaseinAccruedLitigationandSettlements
-62000000 USD
CY2016Q4 wft Common Shares Shares Conditionally Authorized
CommonSharesSharesConditionallyAuthorized
0 shares
CY2017Q2 wft Common Shares Shares Conditionally Authorized
CommonSharesSharesConditionallyAuthorized
0 shares
CY2016Q2 wft Contract Settlement Amount
ContractSettlementAmount
150000000 USD
CY2016Q2 wft Debt Instrument Covenant Asset Coverage Ratio
DebtInstrumentCovenantAssetCoverageRatio
4.0
CY2016Q2 wft Debt Instrument Covenant Senior Leverage Ratio Period Two
DebtInstrumentCovenantSeniorLeverageRatioPeriodTwo
2.5
CY2016Q2 wft Debt Instrument Covenant Specified Leverageand Letterof Credit Ratio Period Two
DebtInstrumentCovenantSpecifiedLeverageandLetterofCreditRatioPeriodTwo
3.5
CY2016Q4 wft Equity Method Investments In Affiliates
EquityMethodInvestmentsInAffiliates
0 USD
CY2017Q2 wft Equity Method Investments In Affiliates
EquityMethodInvestmentsInAffiliates
0 USD
CY2016Q2 wft Foreign Currency Devaluation Lossbefore Tax
ForeignCurrencyDevaluationLossbeforeTax
0 USD
wft Foreign Currency Devaluation Lossbefore Tax
ForeignCurrencyDevaluationLossbeforeTax
31000000 USD
CY2017Q2 wft Foreign Currency Devaluation Lossbefore Tax
ForeignCurrencyDevaluationLossbeforeTax
0 USD
wft Foreign Currency Devaluation Lossbefore Tax
ForeignCurrencyDevaluationLossbeforeTax
0 USD
CY2016Q2 wft Intercompany Charges Net
IntercompanyChargesNet
0 USD
wft Intercompany Charges Net
IntercompanyChargesNet
0 USD
CY2017Q2 wft Intercompany Charges Net
IntercompanyChargesNet
0 USD
wft Intercompany Charges Net
IntercompanyChargesNet
0 USD
CY2016Q4 wft Intercompany Payables Net
IntercompanyPayablesNet
0 USD
CY2017Q2 wft Intercompany Payables Net
IntercompanyPayablesNet
0 USD
CY2016Q4 wft Intercompany Receivables Net
IntercompanyReceivablesNet
0 USD
CY2017Q2 wft Intercompany Receivables Net
IntercompanyReceivablesNet
0 USD
CY2016Q4 wft Other Assets Current Consolidating
OtherAssetsCurrentConsolidating
3873000000 USD
CY2017Q2 wft Other Assets Current Consolidating
OtherAssetsCurrentConsolidating
4463000000 USD
CY2016Q4 wft Other Assets Noncurrent Consolidating
OtherAssetsNoncurrentConsolidating
7754000000 USD
CY2017Q2 wft Other Assets Noncurrent Consolidating
OtherAssetsNoncurrentConsolidating
7005000000 USD
CY2016Q2 wft Other Nonoperating Income Expense Including Foreign Currency Devaluation
OtherNonoperatingIncomeExpenseIncludingForeignCurrencyDevaluation
-85000000 USD
wft Other Nonoperating Income Expense Including Foreign Currency Devaluation
OtherNonoperatingIncomeExpenseIncludingForeignCurrencyDevaluation
-115000000 USD
CY2017Q2 wft Other Nonoperating Income Expense Including Foreign Currency Devaluation
OtherNonoperatingIncomeExpenseIncludingForeignCurrencyDevaluation
117000000 USD
wft Other Nonoperating Income Expense Including Foreign Currency Devaluation
OtherNonoperatingIncomeExpenseIncludingForeignCurrencyDevaluation
44000000 USD
wft Paymentsfor Bond Tender Premium
PaymentsforBondTenderPremium
78000000 USD
wft Paymentsfor Bond Tender Premium
PaymentsforBondTenderPremium
0 USD
CY2017Q2 wft Performance Bonds
PerformanceBonds
61000000 USD
wft Pressure Pumping Related Charges
PressurePumpingRelatedCharges
35000000 USD
wft Proceedsfrom Capital Contributions
ProceedsfromCapitalContributions
623000000 USD
CY2016Q2 wft Proceedsfrom Contract Settlements
ProceedsfromContractSettlements
62000000 USD
CY2016Q3 wft Proceedsfrom Contract Settlements
ProceedsfromContractSettlements
72000000 USD
CY2017Q1 wft Proceedsfrom Contract Settlements
ProceedsfromContractSettlements
16000000 USD
wft Proceedsfrom Paymentsfor Other Financing Activities Consolidating
ProceedsfromPaymentsforOtherFinancingActivitiesConsolidating
-103000000 USD
wft Proceedsfrom Paymentsfor Other Financing Activities Consolidating
ProceedsfromPaymentsforOtherFinancingActivitiesConsolidating
-20000000 USD
wft Proceedsfrom Paymentsfor Other Operating Activities Consolidating
ProceedsfromPaymentsforOtherOperatingActivitiesConsolidating
929000000 USD
wft Proceedsfrom Paymentsfor Other Operating Activities Consolidating
ProceedsfromPaymentsforOtherOperatingActivitiesConsolidating
363000000 USD
wft Proceedsfrom Repaymentsof Debtfrom Subsidiaries Net
ProceedsfromRepaymentsofDebtfromSubsidiariesNet
0 USD
wft Proceedsfrom Repaymentsof Debtfrom Subsidiaries Net
ProceedsfromRepaymentsofDebtfromSubsidiariesNet
0 USD
wft Proceedsfrom Saleof Accounts Receivable
ProceedsfromSaleofAccountsReceivable
76600000 USD
wft Proceedspaymentsfromsaleofbusinessesandequityinvestmentnet
Proceedspaymentsfromsaleofbusinessesandequityinvestmentnet
-20000000 USD
wft Proceedspaymentsfromsaleofbusinessesandequityinvestmentnet
Proceedspaymentsfromsaleofbusinessesandequityinvestmentnet
-1000000 USD
wft Quarterly Amount Transferof Accounts Receivable Accountedforas Sales Carrying Value
QuarterlyAmountTransferofAccountsReceivableAccountedforasSalesCarryingValue
77700000 USD
CY2017Q1 wft Receivable With Imputed Interest Term
ReceivableWithImputedInterestTerm
P3Y
CY2016Q2 wft Selling Generaland Administrative Expense Portion Attributableto Segments
SellingGeneralandAdministrativeExpensePortionAttributabletoSegments
230000000 USD
wft Selling Generaland Administrative Expense Portion Attributableto Segments
SellingGeneralandAdministrativeExpensePortionAttributabletoSegments
499000000 USD
CY2017Q2 wft Selling Generaland Administrative Expense Portion Attributableto Segments
SellingGeneralandAdministrativeExpensePortionAttributabletoSegments
214000000 USD
wft Selling Generaland Administrative Expense Portion Attributableto Segments
SellingGeneralandAdministrativeExpensePortionAttributabletoSegments
446000000 USD
CY2017Q2 wft Transfer Of Accounts Receivable Accounted For As Sale Of Ar
TransferOfAccountsReceivableAccountedForAsSaleOfAR
78100000 USD
CY2016Q2 wft Transferof Accounts Receivable Accountedforas Sales Carrying Value
TransferofAccountsReceivableAccountedforasSalesCarryingValue
77000000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;">Certain prior year cash flow amounts have been reclassified to conform to the current year presentation related to the adoption of new accounting standards. Net income and shareholders&#8217; equity were not affected by these reclassifications.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:25px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:25px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or net realizable value for inventories, equity investments, derivative financial instruments, intangible assets and goodwill, property, plant and equipment (PP&amp;E), income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, disputes, litigation, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. </font></div></div>

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