Weatherford International plc (WFRD) Financial Statements (2024 and earlier)

Company Profile

Business Address 2000 ST. JAMES PLACE
HOUSTON, TX 77056
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9589109511,118618602
Cash and cash equivalents9589109511,118618602
Restricted cash and investments105202162167182 
Receivables1,2169898258261,2411,130
Inventory, net of allowances, customer advances and progress billings7886896707179721,025
Inventory7886896707179721,025
Disposal group, including discontinued operation      265
Other current assets278253303349440428
Total current assets:3,3453,0432,9113,1773,4533,450
Noncurrent Assets
Operating lease, right-of-use asset138115113138 
Property, plant and equipment9579189961,2362,1222,086
Intangible assets, net (including goodwill)3705066578101,353713
Goodwill     239713
Intangible assets, net (excluding goodwill)3705066578101,114 
Other noncurrent assets2581389773365352
Total noncurrent assets:1,7231,6771,8632,2573,8403,151
TOTAL ASSETS:5,0684,7204,7745,4347,2936,601
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,2049688638071,0601,195
Taxes payable140185205214
Employee-related liabilities343297270249
Accounts payable679460380325585732
Accrued liabilities525508    
Debt16845121313383
Other liabilities448413398471599722
Other undisclosed current liabilities46445971  
Total current liabilities:1,8661,4701,3321,3621,6722,300
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,7152,2032,4162,6012,1517,605
Finance lease, liability36    
Other undisclosed long-term debt and lease obligation1,6792,2032,2882,4242,1517,605
Liabilities, other than long-term debt565496402357554362
Accounts payable and accrued liabilities282     
Other liabilities152379402357554362
Operating lease, liability131117128177 
Other undisclosed noncurrent liabilities   128177  
Total noncurrent liabilities:2,2802,6992,9463,1352,7057,967
Total liabilities:4,1464,1694,2784,4974,37710,267
Equity
Equity, attributable to parent9245354729072,880(3,705)
Common stock      1
Additional paid in capital2,9062,9282,9042,8972,8976,711
Accumulated other comprehensive income (loss)(28)(22)(35)(43)9(1,746)
Accumulated deficit(1,954)(2,371)(2,397)(1,947)(26)(8,671)
Equity, attributable to noncontrolling interest(2)1624303639
Total equity:9225514969372,916(3,666)
TOTAL LIABILITIES AND EQUITY:5,0684,7204,7745,4347,2936,601

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues5,1354,3313,6453,6854,9545,744
Cost of revenue(4,203)(3,807)(3,444)(3,378)(156)(5,516)
Cost of goods and services sold(19)(36)(62)(210) (1,967)
Other undisclosed gross profit     (4,745)1,002
Gross profit:932524201307531,230
Operating expenses(112)(112)(85)(1,793)(104)(2,312)
Other operating income (expense), net
(Other Nonrecurring (Income) Expense)
(4)(9)10   
Other undisclosed operating income (loss)49(10) 52(1,002)
Operating income (loss):820412116(1,486)1(2,084)
Nonoperating expense
(Other Nonoperating expense)
 (129)(90)(29)(53) (46)
Interest and debt expense  (5)(170)(15)  
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:691317(83)(1,554)1(2,130)
Other undisclosed loss from continuing operations before income taxes(185)(179)(260)(260)(16)(627)
Income (loss) from continuing operations before income taxes:506138(343)(1,814)(15)(2,757)
Income tax expense(57)(87)(86)(85)(9)(34)
Income (loss) from continuing operations:44951(429)(1,899)(24)(2,791)
Loss before gain (loss) on sale of properties:(429)(1,899)(24)(2,791)
Net income (loss):44951(429)(1,899)(24)(2,791)
Net loss attributable to noncontrolling interest(32)(25)(21)(22)(2)(20)
Other undisclosed net income attributable to parent     3,687 
Net income (loss) available to common stockholders, diluted:41726(450)(1,921)3,661(2,811)

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):44951(429)(1,899)(24)(2,791)
Other comprehensive income (loss)(6)138(52)9(227)
Other undisclosed comprehensive income      
Comprehensive income (loss):44364(421)(1,951)(15)(3,018)
Comprehensive loss, net of tax, attributable to noncontrolling interest(32)(25)(21)(22)(2)(20)
Comprehensive income (loss), net of tax, attributable to parent:41139(442)(1,973)(17)(3,038)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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