Weatherford International plc Files 2024 10-K

TL;DR

WFRD filed its 2024 10-K. Check financials and outlook.

AI Summary

Weatherford International plc filed its 2024 10-K on February 6, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Houston, TX, operates in the oil and gas machinery and equipment sector. This filing provides a comprehensive overview of its financial performance, operations, and risk factors for the reporting period.

Why It Matters

This 10-K filing is crucial for investors and stakeholders to understand Weatherford's financial health, operational strategies, and future outlook in the dynamic oil and gas industry.

Risk Assessment

Risk Level: medium — As a company in the oil and gas sector, Weatherford is subject to inherent industry risks, including commodity price volatility and regulatory changes.

Key Numbers

• 2024-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2025-02-06 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• Weatherford International plc (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-06 (date) — Filing date
• Houston, TX (location) — Company headquarters
• OIL & GAS FILED MACHINERY & EQUIPMENT [3533] (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.001 — e on which registered Ordinary shares, $0.001 par value per share WFRD The Nasdaq Gl
• $1 — 024 with an expected annual dividend of $1 per share and a $500 million share rep
• $500 million — annual dividend of $1 per share and a $500 million share repurchase authorization over thr
• $82 million — 1, 2024, our Russia operations included $82 million in cash, $95 million in other current a
• $95 million — perations included $82 million in cash, $95 million in other current assets, $56 million in
• $56 million — h, $95 million in other current assets, $56 million in property, plant and equipment and ot
• $45 million — pment and other non-current assets, and $45 million in liabilities. As of December 31, 2023
• $62 million — 1, 2023, our Russia operations included $62 million in cash, $94 million in other current a
• $94 million — perations included $62 million in cash, $94 million in other current assets, $76 million in
• $76 million — h, $94 million in other current assets, $76 million in property, plant and equipment and ot
• $11 m — ty-year period and, may cost as much as $11 million, recorded as an undiscounted obli

Filing Documents

• wfrd-20241231.htm (10-K) — 1984KB
• ex1037-eighthamendmenttocr.htm (EX-10.37) — 1924KB
• ex211-sigsubswft123124.htm (EX-21.1) — 6KB
• ex231kpmgconsentwfrd123124.htm (EX-23.1) — 2KB
• a2024-q4ex311ceo302cert.htm (EX-31.1) — 11KB
• a2024-q4ex312cfo302cert.htm (EX-31.2) — 11KB
• a2024-q4ex321ceo906cert.htm (EX-32.1) — 7KB
• a2024-q4ex322cfo906cert.htm (EX-32.2) — 7KB
• wfrd-20241231_g1.jpg (GRAPHIC) — 129KB
• 0001603923-25-000050.txt ( ) — 12674KB
• wfrd-20241231.xsd (EX-101.SCH) — 59KB
• wfrd-20241231_cal.xml (EX-101.CAL) — 101KB
• wfrd-20241231_def.xml (EX-101.DEF) — 260KB
• wfrd-20241231_lab.xml (EX-101.LAB) — 772KB
• wfrd-20241231_pre.xml (EX-101.PRE) — 547KB
• wfrd-20241231_htm.xml (XML) — 1615KB

Risk Factors

Item 1A Risk Factors 9

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 20 Item 1C Cybersecurity 20

Properties

Item 2 Properties 22

Legal Proceedings

Item 3 Legal Proceedings 22

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 22 PART II

Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 23

[ R eserved]

Item 6 [ R eserved] 25

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Financial Results Overview 26 Business Outlook 33 Liquidity and Capital Resources 34 Critical Accounting Estimates 37

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 41

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 42

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78

Controls and Procedures

Item 9A Controls and Procedures 78

Other Information

Item 9B Other Information 78

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 79 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 79

Executive Compensation

Item 11 Executive Compensation 79

Security Ownership of Certain Beneficial Owners and Manag e ment and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Manag e ment and Related Stockholder Matters 79

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 80

Principal Accounting Fees and Services

Item 14 Principal Accounting Fees and Services 80 PART IV

Exhibit s and Financial Statement Schedules

Item 15 Exhibit s and Financial Statement Schedules 80

Form 10-K Summary

Item 16 Form 10-K Summary 87

SIGNATURES

SIGNATURES 88 Weatherford International plc – 2024 Form 10-K | 1 Table of Contents Item 1 | Business PART I

Business

Item 1. Business. Weatherford International plc, an Irish public limited company, together with its subsidiaries ("Weatherford," the "Company," "we," "us" and "our"), is a leading global energy services company providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. We conduct business in approximately 75 countries, answering the challenges of the energy industry with 330 operating locations including manufacturing, research and development, service, and training facilities. Our operational performance is reviewed and managed across the life cycle of the well, and we report in three segments (1) Drilling and Evaluation, (2) Well Construction and Completions, and (3) Production and Intervention. Our principal executive offices are located at 2000 St. James Place, Houston, Texas 77056, and our telephone number at that location is +1.713.836.4000. Our internet address is www.weatherford.com. General information about us, including our corporate governance policies, code of business conduct and charters for the committees of our Board of Directors, can be found on our website, and such information provided on our website, is not incorporated by reference into this Form 10-K. On our website we make available, free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and amendments to those reports filed or furnished as soon as reasonably practicable after we electronically file or furnish them to the Securities and Exchange Commission ("SEC"). The SEC maintains a website that contains our reports, proxy and information statements, and our other SEC filings. The address of that site is www.sec.gov. Strategy Our objective is to create value for our shareholders across industry cycles by ensuring su

View Full Filing

View this 10-K filing on SEC EDGAR