View Filing Data

Long-Lived Assets Impairment

331

495

Goodwill and Equity Investment Impairment

161

793

U.S. Government Investigation Loss

153

100

Gain on Sale of Businesses and Investments, Net

(349)

(24)

(28)

Total Costs and Expenses

14,406

14,740

14,917

505

523

^[1]

298

Devaluation of Venezuelan Bolivar

(498)

(516)

(486)

(245)

(100)

Provision for Income Taxes

(17)

(77)

(100)

Loss Before Income Taxes

(255)

(170)

(288)

(284)

(144)

(462)

Net Income Attributable to Noncontrolling Interests

(539)

(314)

(750)

(45)

(31)

(28)

Net Loss Attributable to Weatherford

$ (584)

$ (345)

$ (778)

Loss Per Share Attributable to Weatherford:

Basic (in dollars per share)

$ (0.75)

$ (0.45)

$ (1.02)

Diluted (in dollars per share)

$ (0.75)

$ (0.45)

$ (1.02)

Weighted Average Shares Outstanding:

Basic (in shares)

777

772

765

Weighted Average Number of Shares Outstanding, Diluted

777

772

765

[1]

Includes income tax restatement and material weakness remediation expenses of $103 million, $13 million of costs incurred in connection with U.S. government investigations, $11 million of non-recurring fees and expenses associated with our 2012 debt consent solicitation and severance, exit and other charges of $79 million.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net Loss	$ (539)	$ (314)	$ (750)
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	(673)	(353)	86
Defined Benefit Pension Activity	(19)	2	(4)
Other	(2)	1	1
Other Comprehensive Income (Loss)	(694)	(350)	83
Comprehensive Loss	(1,233)	(664)	(667)
Comprehensive Loss Attributable to Noncontrolling Interests	(45)	(31)	(28)
Comprehensive Loss Attributable to Weatherford	$ (1,278)	$ (695)	$ (695)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and Cash Equivalents	$ 474	$ 435
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $108 in 2014 and $106 in 2013	3,015	3,351
Inventories, Net	3,087	3,200
Deferred Tax Assets	303	292
Other Current Assets	1,065	1,052
Disposal Group, Including Discontinued Operation, Assets, Current	0	1,604
Total Current Assets	7,944	9,934
Land, Buildings and Leasehold Improvements	1,836	1,776
Rental and Service Equipment	9,714	9,989
Machinery and Other	2,468	2,395
Property, Plant and Equipment, Gross	14,018	14,160
Less: Accumulated Depreciation	6,895	6,471
Property, Plant and Equipment, Net	7,123	7,689
Goodwill	3,011	3,290
Other Intangible Assets, Net	440	566
Equity Investments	106	296
Other Non-current Assets	265	202
Total Assets	18,889	21,977
Current Liabilities:
Short-term Borrowings and Current Portion of Long-term Debt	727	1,653
Accounts Payable	1,736	1,918
Accrued Salaries and Benefits	425	472
Billings in Excess of Costs and Estimated Earnings	1	127
Income Taxes Payable	230	183
Other Current Liabilities	908	1,086
Total Current Liabilities Held for Sale	0	318
Total Current Liabilities	4,027	5,757
Long-term Debt	6,798	7,061
Other Non-current Liabilities	1,031	956
Total Liabilities	11,856	13,774
Shareholders’ Equity:
Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 774 shares at December 31, 2014; Authorized 840 shares, Conditionally Authorized 372 shares, Issued 840 shares, Outstanding 767 shares, Par Value 1.16 Swiss Francs at December 31, 2013	1	775
Capital in Excess of Par Value	5,411	4,600
Retained Earnings	2,427	3,011
Accumulated Other Comprehensive Loss	(881)	(187)
Treasury Shares, 0 shares and 73 shares, at cost, at December 31, 2014 and 2013, respectively	0	(37)
Weatherford Shareholders’ Equity	6,958	8,162
Noncontrolling Interests	75	41
Total Shareholders’ Equity	7,033	8,203
Total Liabilities and Shareholders’ Equity	$ 18,889	$ 21,977

CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Millions	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) shares
Current Assets:
Allowance for Uncollectible Accounts \| $	$ 108	$ 106
Shareholders' Equity:
Common Shares, Par Value (in CHF per share) \| (per share)	$ 0.001
Common Shares, Authorized (in shares)	1,356,000,000	840,000,000
Common Shares, Conditionally Authorized (in shares)	0	372,000,000
Common Shares, Issued (in shares)	774,000,000	840,000,000
Common Shares, Outstanding (in shares)	774,000,000	767,000,000
Treasury Shares, at cost (in shares)	0	73,000,000

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Total	Shares Issued [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Shares [Member]	Noncontrolling Interest [Member]
Balance, beginning balance at Dec. 31, 2011	$ 9,345,000,000	$ 769,000,000	$ 4,675,000,000	$ 4,134,000,000	$ 80,000,000	$ (334,000,000)	$ 21,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	(750,000,000)	0	0	(778,000,000)	0	0	28,000,000
Other Comprehensive Income (Loss)	83,000,000	0	0	0	83,000,000	0	0
Dividends Paid to Noncontrolling Interests	(21,000,000)	0	0	0	0	0	(21,000,000)
Shares Issued for Acquisitions	39,000,000	0	(27,000,000)	0	0	66,000,000	0
Equity Awards Granted, Vested and Exercised	64,000,000	0	(22,000,000)	0	0	86,000,000	0
Excess Tax Benefits of Share-based Compensation Plans	(3,000,000)	0	(3,000,000)	0	0	0	0
Exercise of Warrants	65,000,000	6,000,000	59,000,000	0	0	0	0
Other	(4,000,000)	0	(8,000,000)	0	0	0	4,000,000
Balance, ending balance at Dec. 31, 2012	8,818,000,000	775,000,000	4,674,000,000	3,356,000,000	163,000,000	(182,000,000)	32,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	(314,000,000)	0	0	(345,000,000)	0	0	31,000,000
Other Comprehensive Income (Loss)	(350,000,000)	0	0	0	(350,000,000)	0	0
Dividends Paid to Noncontrolling Interests	(27,000,000)	0	0	0	0	0	(27,000,000)
Equity Awards Granted, Vested and Exercised	77,000,000	0	(68,000,000)	0	0	145,000,000	0
Excess Tax Benefits of Share-based Compensation Plans	(1,000,000)	0	(1,000,000)	0	0	0	0
Other	0	0	(5,000,000)	0	0	0	5,000,000
Balance, ending balance at Dec. 31, 2013	8,203,000,000	775,000,000	4,600,000,000	3,011,000,000	(187,000,000)	(37,000,000)	41,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	(539,000,000)	0	0	(584,000,000)	0	0	45,000,000
Other Comprehensive Income (Loss)	(694,000,000)	0	0	0	(694,000,000)	0	0
Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Redeemable	27,000,000	0	0	0	0	0	27,000,000
Dividends Paid to Noncontrolling Interests	(39,000,000)	0	0	0	0	0	(39,000,000)
Change in Common Shares Associated with Redomestication	11,000,000	(778,000,000)	750,000,000	0	0	39,000,000	0
Equity Awards Granted, Vested and Exercised	56,000,000	4,000,000	54,000,000	0	0	(2,000,000)	0
Excess Tax Benefits of Share-based Compensation Plans	7,000,000	0	7,000,000	0	0	0	0
Other	1,000,000	0	0	0	0	0	1,000,000
Balance, ending balance at Dec. 31, 2014	$ 7,033,000,000	$ 1,000,000	$ 5,411,000,000	$ 2,427,000,000	$ (881,000,000)	$ 0	$ 75,000,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash Flows from Operating Activities:
Net Income	$ (539)	$ (314)	$ (750)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Depreciation and Amortization	1,371	1,402	1,282
Impairment of Long-Lived Assets Held-for-use	495	0	0
Goodwill and Equity Investment Impairment	161	0	793
Payments for Restructuring	135
Restructuring Charges	331	0	0
Payments for Divestiture of Businesses	112	0	0
Devaluation of Venezuelan Bolivar	245	100	0
U.S. Government Investigation Loss	0	153	100
Employee Share-Based Compensation Expense	56	66	76
Bad Debt Expense	27	102	22
(Gain) Loss on Sale of Assets and Businesses	(349)	6	(9)
Deferred Income Tax Benefit	(66)	(33)	(13)
Excess Tax Benefits from Share-Based Compensation	(7)	1	(1)
Other, Net	75	10	43
Change in Operating Assets and Liabilities, Net of Effect of Businesses Acquired:
Accounts Receivable	78	(12)	(705)
Inventories	(167)	129	(738)
Other Current Assets	(80)	(65)	(231)
Accounts Payable	(150)	69	543
Billings in Excess of Costs and Estimated Earnings	(126)	(154)	255
Other Current Liabilities	(219)	(185)	452
Other, Net	(89)	(46)	102
Net Cash Provided by Operating Activities	963	1,229	1,221
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	(1,450)	(1,575)	(2,177)
Acquisitions of Businesses, Net of Cash Acquired	18	(8)	(165)
Acquisition of Intellectual Property	(5)	(9)	(17)
Acquisition of Equity Investments in Unconsolidated Affiliates	(3)	0	(8)
Proceeds from Sale of Assets and Businesses, Net	1,770	488	61
Net Cash Provided by (Used in) Investing Activities	330	(1,104)	(2,306)
Cash Flows From Financing Activities:
Borrowings of Long-term Debt	0	3	1,313
Repayments of Long-term Debt	(259)	(603)	(310)
Borrowings (Repayments) of Short-term Debt, Net	(924)	612	(13)
Proceeds from Exercise of Warrants	0	0	65
Excess Tax Benefits from Share-Based Compensation	7	(1)	1
Proceeds from Sale of Treasury Stock	22	0	0
Other Financing Activities, Net	(26)	(5)	(44)
Net Cash Provided by (Used in) Financing Activities	(1,180)	6	1,012
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(74)	4	2
Net Increase (Decrease) in Cash and Cash Equivalents	39	135	(71)
Cash and Cash Equivalents at Beginning of Year	435	300	371
Cash and Cash Equivalents at End of Year	$ 474	$ 435	$ 300

Business Combinations and Divestitures

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Business Combinations and Dispositions

Business Combinations and Divestitures

Acquisitions

From time to time, we acquire businesses we believe are important to our long-term strategy. Results of operations for acquisitions are included in the accompanying Consolidated Statements of Operations from the date of acquisition. The balances included in the Consolidated Balance Sheets related to current year acquisitions are based on preliminary information and are subject to change when final asset valuations are obtained and the potential for liabilities has been evaluated. The purchase price for the acquisitions is allocated to the net assets acquired based upon their estimated fair values at the date of acquisition.

In April 2014, we acquired an additional 30% ownership interest in a joint venture in China. We paid $13 million for the incremental interest, thereby increasing our ownership interest from 45% to 75% and gaining control of the joint venture. As a result of this transaction, we adjusted our previously held equity investment to fair value, recognizing an $16 million gain, and we applied the consolidation method of accounting, recognizing $6 million of goodwill and $30 million of cash. During the year ended December 31, 2013, we acquired businesses for cash consideration of $8 million, net of cash acquired.

In May 2012, we acquired a company that designs and produces well completion tools. As purchase consideration, we paid $29 million in cash, issued three million shares valued at approximately $39 million, settled a previously existing note receivable for $16 million and entered into a contingent consideration arrangement valued at approximately $3 million at December 31, 2014 that will be settled in early 2015. This contingent consideration arrangement is dependent on the acquired company’s 2014 revenue and will be marked to market through current earnings in each reporting period prior to settlement. The liability is valued using Level 3 inputs. During the year ended December 31, 2012, we also acquired other businesses and equity investments for cash consideration of $144 million, net of cash acquired.

Divestitures

On December 31, 2014, we completed the sale of our engineered chemistry and Integrity drilling fluids businesses for proceeds totaling $750 million less estimated working capital adjustments of $16 million and transaction fees of $12 million and recognized a gain of $250 million. We may also receive a potential increase from an earnout tied to the post-closing performance of the disposed businesses during the twelve month period after the closing date. In addition, we disposed of all of our shares in Proserv Group Inc. (“Proserv”) and recognized a gain of $65 million resulting from this transaction.

The following amounts are related to our engineered chemistry and Integrity drilling fluids businesses, have been segregated from our Condensed Consolidated Statements of Operations and Condensed Consolidated Statement of Cash Flows:



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Income Before Income Taxes	$	57	$	58	$	57

The carrying amounts of the major classes of assets and liabilities of our engineered chemistry and Integrity drilling fluids businesses divested are as follows:



	December 31,
(Dollars in millions)	2014		2013
Assets:
Accounts Receivable, Net	$	48	$	48
Inventory, Net	99		103
Property, Plant and Equipment, Net	55		52
Goodwill	270		270
Other Intangible Assets, Net	43		49
Other Assets	1		5
Total Assets	$	516	$	527

Liabilities:
Accounts Payable	$	32	$	37
Deferred Tax Liabilities	10		19
Other Liabilities	2		23
Total Liabilities	$	44	$	79

In September 2014, we completed the sale of our pipeline and specialty services business. We received total proceeds of $246 million ($245 million, net of cash disposed) plus preliminary estimated working capital adjustments of $2 million and recognized a gain of approximately $49 million resulting from this transaction. The final proceeds and gain recognition are subject to settlement of working capital adjustments.

In July 2014, we completed the sale of our land drilling and workover rig operations in Russia and Venezuela. We received proceeds upon closing of $499 million ($486 million, net of cash disposed) plus estimated working capital adjustments of $3 million. As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment loss and a $121 million goodwill impairment loss in the second quarter of 2014. Of the $121 million goodwill impairment loss, $95 million pertained to goodwill attributable to our divested land drilling and workover rig operations in Russia. See “Note 9 – Goodwill” for additional information regarding the goodwill impairment. Following the previous recorded impairments and upon closing the transaction net of working capital adjustments, we recognized a loss of approximately $15 million, however, the final proceeds and loss recognition are subject to settlement of working capital adjustments.

Our land drilling and workover rig operations in Russia and Venezuela, pipeline and specialty services business, engineered chemistry businesses and Integrity drilling fluids business have been reclassified as held for sale as of December 31, 2013. As indicated above, we completed the sale of land drilling and workover rig operations in Russia and Venezuela, the pipeline and specialty services business, engineered chemistry business and Integrity drilling fluids during the second half of 2014.

Assets and liabilities have been reclassified as held for sale as of December 31, 2013 in connection with our planned divestitures. These balances are listed in the table below. As of December 31, 2014, we did not have any businesses that qualified for assets held for sale classification.



(Dollars in millions)	December 31, 2013
Accounts Receivables, net	$	244
Inventories, net	170
Other Current Assets	30
Property, Plant, and Equipment, Net	678
Goodwill	419
Other Intangible Assets, Net	59
Other Assets	4
Total Current Assets Held for Sale	$	1,604

Accounts Payable	$	173
Accrued Expenses and Other Liabilities	145
Total Current Liabilities Held for Sale	$	318

On October 7, 2013, we completed the sale of our 38.5% equity interest in Borets International Limited (“Borets”) for $400 million, net of settlement items. Borets is an electric submersible pump manufacturer that operates in Russia. The consideration consisted of $359 million in cash and a three-year $30 million promissory note. As part of the sale, it was agreed that any payables or receivables between the parties would be net settled and, as a result, $11 million that we owed to Borets was deducted from the total consideration. We recorded a gain on sale of $18 million.

In 2013, we also completed the sale of our industrial screen business for proceeds totaling $137 million. Through our industrial screen operations, we delivered screen technologies used in numerous industries and, as a result, the screen business was not closely aligned with our goals as a leading provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. During the year ended December 31, 2013, we recognized gains totaling $6 million resulting from these industrial screen transactions. The major classes of assets sold in these transactions included $54 million in cash, $36 million of accounts receivable, $37 million of inventory and $93 million of other assets primarily comprised of property, plant and equipment, other intangible assets and goodwill. Liabilities of $69 million were also transferred in the sale, of which $60 million were current liabilities.

During 2012, we completed the sale of our subsea controls business in exchange for an equity investment valued at $173 million (see “Note 11 – Equity Investments”). We recognized a $28 million gain from the transaction (approximately $25 million net of tax). The major classes of assets sold included $39 million of accounts receivable and other current assets, $38 million of inventories, $5 million of property plant and equipment and $74 million of goodwill. Liabilities of $13 million were also transferred in the sale.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Organization and Nature of Operations

Weatherford International plc (“Weatherford Ireland”), a public limited company, together with its subsidiaries (“Weatherford,” the “Company,” “we,” “us” and “our”), is an Irish multinational oilfield service company. Weatherford is one of the world’s leading providers of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. We operate in over 100 countries, which are located in nearly all of the oil and natural gas producing regions in the world. Many of our businesses, including those of our predecessor companies, have been operating for more than 50 years.

On June 17, 2014, we completed the change in our place of incorporation from Switzerland to Ireland, whereby Weatherford Ireland became the new public holding company and the parent of the Weatherford group of companies (the “Merger”). The Merger was effected through an agreement between Weatherford International Ltd. (“Weatherford Switzerland”) and Weatherford Ireland pursuant to which each registered share of Weatherford Switzerland was exchanged for the allotment of one ordinary share of Weatherford Ireland. The authorized share capital of Weatherford Ireland includes 1.356 billion ordinary shares with a par value of $0.001 per share. Our ordinary shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “WFT,” the same symbol under which Weatherford Switzerland registered shares were previously listed.

In February 2009, we completed a share exchange transaction in which Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”), and our then parent company, became a wholly-owned subsidiary of Weatherford Switzerland, for purposes of changing the Company’s place of incorporation from Bermuda to Switzerland. Prior to 2002, our parent company was Weatherford International, Inc., a Delaware corporation (“Weatherford Delaware”), until we moved our incorporation to Bermuda in 2002. Weatherford Bermuda and Weatherford Delaware continue to be wholly-owned subsidiaries of Weatherford Ireland. In 2013, Weatherford Delaware converted its corporate form and now exists as Weatherford International, LLC, a Delaware limited liability company.

Principles of Consolidation

We consolidate all wholly-owned subsidiaries, controlled joint ventures and variable interest entities where the Company has determined it is the primary beneficiary. All material intercompany accounts and transactions have been eliminated in consolidation.

Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. We recognize equity in earnings of unconsolidated affiliates in Selling, General and Administration attributable to segments in our Consolidated Statements of Operations (see “Note 11 – Equity Investments”).

We have a significant variable interest in a lessor trust that is a variable interest entity. We are not the primary beneficiary and do not consolidate the trust. The variable interest in the trust is created by the residual fair value guarantees on the leased assets. Our maximum exposure to loss associated with this variable interest and the respective fair value guarantees totaled $42 million at December 31, 2014. In addition, we have guaranteed debt on behalf of equity investees in whom we have a variable interest and for which we are not the primary beneficiary. These guarantees totaled $70 million at December 31, 2014.

Use of Estimates

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 and the reported amounts of revenues and expenses during the reporting period and disclosure of contingent liabilities. On an on-going basis, we evaluate our estimates, including those related to uncollectible accounts receivable, lower of cost or market value of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, pension and post-retirement benefit plans, contingencies and share based payments. 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 not readily apparent from other sources. Actual results could differ from those estimates.

Reclassifications

Certain prior year amounts have been reclassified to conform to the 2014 presentation.

Disputes, Litigation and Contingencies

We accrue an estimate of the probable and estimable cost to resolve certain legal and investigation matters. For matters not deemed probable and reasonably estimable, we have not accrued any amounts in accordance with U.S. GAAP. Our contingent loss estimates are based upon an analysis of potential results, assuming a combination of probable litigation and settlement strategies. The accuracy of these estimates is impacted by the complexity of the associated issues.

Cash and Cash Equivalents

We consider all highly liquid investments with original maturities of three months or less to be cash equivalents.

Allowance for Doubtful Accounts

We establish an allowance for doubtful accounts based on various factors including historical experience, the current aging status of our customer accounts, the financial condition of our customers and the business and political environment in which our customers operate. Provisions for doubtful accounts are recorded when it becomes probable that customer accounts are uncollectible.

Major Customers and Credit Risk

Substantially all of our customers are engaged in the energy industry. This concentration of customers may impact our overall exposure to credit risk, either positively or negatively, in that customers may be similarly affected by changes in economic and industry conditions. We perform on-going credit evaluations of our customers and do not generally require collateral in support of our trade receivables. We maintain allowances for potential credit losses, and actual losses have historically been within our expectations. International sales also present various risks, including risks of war, civil disturbances and governmental activities that may limit or disrupt markets, restrict the movement of funds, or result in the deprivation of contract rights or the taking of property without fair consideration. Most of our international sales are to large international or national oil companies and these sales have resulted in a concentration of receivables from certain national oil companies in Latin America. As of December 31, 2014, our receivables from Latin America customers accounted for 26% of our net outstanding accounts receivable balance with $66 million due from Petroleos de Venezuela, S.A. (“PDVSA”) and $142 million due from Petroleos Mexicanos (“Pemex”). In 2013, we recognized a loss of $58 million, upon settlement of $127 million in outstanding receivables due from PDVSA. We accepted bonds with a face value of $127 million from PDVSA in full settlement of $127 million in trade receivables. Upon receipt, we immediately sold these bonds for a loss in a series of transactions. During 2014, 2013 and 2012, no individual customer accounted for more than 10% of our consolidated revenues.

Inventories

We value our inventories at lower of cost or market using either the first-in, first-out (“FIFO”) or average cost methods. Cost represents third-party invoice or production cost. Production cost includes material, labor and manufacturing overhead. Work in process and finished goods inventories include the cost of materials, labor and manufacturing overhead. To maintain a book value that is the lower of cost or market, we maintain reserves for excess, slow moving and obsolete inventory. We regularly review inventory quantities on hand and record provisions for excess, slow moving and obsolete inventory.

Property, Plant and Equipment

We carry our property, plant and equipment, both owned and under capital lease, at cost less accumulated depreciation. The carrying values are based on our estimates and judgments relative to capitalized costs, useful lives and salvage value, where applicable. We expense maintenance and repairs as incurred. We capitalize expenditures for improvements as well as renewals and replacements that extend the useful life of the asset. We depreciate our fixed assets on a straight-line basis over their estimated useful lives, allowing for salvage value where applicable.

Our depreciation expense was $1.3 billion for each of the years ended December 31, 2014 and 2013 and was $1.2 billion for the year ended December 31, 2012. We classify our rig assets as “Rental and Service Equipment” on the Consolidated Balance Sheets.

The estimated useful lives of our major classes of property, plant and equipment are as follows:



Major Classes of Property, Plant and Equipment	Estimated Useful Lives
Buildings and leasehold improvements	10 – 40 years or lease term
Rental and service equipment	2 – 20 years
Machinery and other	2 – 12 years

Goodwill and Indefinite-Lived Intangible Assets

We test for the impairment of goodwill and other intangible assets with indefinite lives annually as of October 1, or more frequently if indicators of impairment exist. Our goodwill impairment test involves a comparison of the fair value of each of our reporting units with its carrying amount.

The fair value of our reporting units is determined using primarily an income approach. The fair value was estimated using discounted cash flows using a discount rate adjusted for credit risk of the regional reporting unit tested. If the fair value of a reporting unit is less than the recorded book value of the reporting unit’s assets (including goodwill), less liabilities, then a hypothetical purchase price allocation is performed on the reporting unit’s assets and liabilities using the fair value of the reporting unit as the purchase price in the calculation. If the amount of goodwill resulting from this hypothetical purchase price allocation is less than the recorded amount of goodwill, the recorded goodwill is written down to the new amount. Our indefinite-lived asset impairment test involves a comparison of the fair value of the intangible asset and its carrying value. If the fair value is less than the carrying value, the asset is written down to fair value.

Intangible Assets

Our intangible assets, excluding goodwill, are acquired technology, licenses, patents, customer relationships and other identifiable intangible assets. Intangible assets are amortized on a straight-line basis over their estimated economic lives generally ranging from two to 20 years, except for intangible assets with indefinite lives, which are not amortized. As many areas of our business rely on patents and proprietary technology, we seek patent protection both inside and outside the U.S. for products and methods that appear to have commercial significance. We capitalize patent defense costs when we determine that a successful defense is probable.

Long-Lived Assets

We review our long-lived assets to determine whether any events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. Factors that might indicate a potential impairment may include, but are not limited to, significant decreases in the market value of the long-lived asset, a significant change in the long-lived asset’s physical condition, a change in industry conditions or a reduction in cash flows associated with the use of the long-lived asset. If these or other factors indicate the carrying amount of the asset may not be recoverable, we determine whether an impairment has occurred through analysis of undiscounted cash flow of the asset at the lowest level that has an identifiable cash flow. If an impairment has occurred, we recognize a loss for the difference between the carrying amount and the fair value of the asset. We measure the fair value of the asset using market prices or, in the absence of market prices, based on an estimate of discounted cash flows. Cash flows are generally discounted using an interest rate commensurate with a weighted average cost of capital for a similar asset.

Research and Development Expenditures

Research and development expenditures are expensed as incurred.

Environmental Expenditures

Environmental expenditures that relate to the remediation of an existing condition caused by past operations and that do not contribute to future revenues are expensed. Liabilities for these expenditures are recorded when it is probable that obligations have been incurred and costs can be reasonably estimated. Estimates are based on available facts and technology, enacted laws and regulations and our prior experience in remediation of contaminated sites.

Derivative Financial Instruments

We record derivative instruments on the balance sheet at their fair value, as either an asset or a liability. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income (loss), depending on whether the derivative is designated as part of a hedge relationship, and if so, the type of hedge transaction. Any gain or loss associated with the termination of an interest rate swap that was accounted for as a hedge instrument is deferred and amortized as an adjustment to interest expense over the remaining term of the designated debt instrument.

Foreign Currency

Results of operations for our foreign subsidiaries with functional currencies other than the U.S. dollar are translated using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated using the exchange rates in effect at the balance sheet dates, and the resulting translation adjustments are included as Accumulated Other Comprehensive Income (Loss), a component of shareholders’ equity.

For our subsidiaries that have a functional currency that differs from the currency of their balances and transactions, inventories, property, plant and equipment and other non-monetary assets and liabilities, together with their related elements of expense or income, are remeasured using historical exchange rates. All monetary assets and liabilities are remeasured at current exchange rates. All revenues and expenses are translated at average exchange rates. Remeasurement gains and losses for these subsidiaries are recognized in our results of operations during the period incurred. We had net foreign currency losses, excluding the devaluation of the Venezuelan bolivar fuertes (“bolivar”) of $18 million, $66 million and $85 million in 2014, 2013 and 2012, respectively. The gain or loss related to individual foreign currency transactions, excluding the devaluation of the Venezuelan bolivar, is included in Other, Net in our Consolidated Statements of Operations. Due to the magnitude, the 2014 and 2013 devaluation of the Venezuelan bolivar is discussed separately below under the heading “Foreign Currency – Devaluation of Venezuelan Bolivar.”

Foreign Currency - Devaluation of Venezuelan Bolivar

In 2014 and 2013, we recognized pre-tax charges of $245 million ($252 million after-tax) and $100 million ($94 million after-tax), respectively, on the devaluation of the Venezuelan bolivar. The loss related to the devaluation of foreign currency transactions is included in “Devaluation of Venezuelan Bolivar” in our Consolidated Statements of Operations. As of December 31, 2014, we adopted the SICAD II daily auction rate provided by Venezuela’s Supplementary Foreign Currency Administration System (or “SICAD”) of approximately 50 Venezuelan bolivars per U.S. dollar. This rate has been used at December 31, 2014 for the purposes of remeasuring Venezuelan bolivar denominated assets and liabilities (primarily cash, accounts receivables, trade payables and other current liabilities) because we believe the SICAD II rate to be the rate most representative of the economics in which we operate. At December 31, 2014, our net investment in Venezuela was $361 million and our net monetary asset position denominated in Venezuelan bolivar was $36 million. The 2013 devaluation was due to the Venezuelan government changing the official exchange rate of the bolivar from 4.3 per dollar to 6.3 per dollar for all goods and services. See “Note 24 – Subsequent Event” for additional information regarding Venezuela’s foreign currency exchange mechanisms.

Share-Based Compensation

We account for all share-based payment awards, including shares issued under employee stock purchase plans, stock options, restricted shares, restricted share units and performance units by measuring these awards at the date of grant and recognizing the grant date fair value as an expense, net of expected forfeitures, over the service period, which is usually the vesting period.

Income Taxes

Income taxes have been provided based upon the tax laws and rates in the countries in which our operations are conducted and income is earned. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. The impact of an uncertain tax position taken or expected to be taken on an income tax return is recognized in the financial statements at the largest amount that is more likely than not to be sustained upon examination by the relevant taxing authority.

Revenue Recognition

Revenue is recognized when all of the following criteria have been met: (1) evidence of an arrangement exists; (2) delivery to and acceptance by the customer has occurred; (3) the price to the customer is fixed or determinable; and (4) collectability is reasonably assured.

Both contract drilling and pipeline service revenue is contractual by nature and generally governed by day-rate based contracts. We recognize revenue for these day-rate contracts based on the criteria outlined above, which is consistent with our other product offerings.

From time to time, we may receive revenues for preparation and mobilization of equipment and personnel. In connection with new drilling contracts, revenues earned and incremental costs incurred directly related to preparation and mobilization are deferred and recognized over the primary contract term using the straight-line method. Costs of relocating equipment without contracts to more promising market areas are expensed as incurred. Demobilization fees received are recognized, along with any related expenses, upon completion of contracts.

We incur rebillable expenses including shipping and handling, third-party inspection and repairs, and customs costs and duties. We recognize the revenue associated with these rebillable expenses as Products Revenues and all related costs as Cost of Products in the accompanying Consolidated Statements of Operations.

Percentage-of-Completion

Revenue from certain long-term construction type contracts is reported based on the percentage-of-completion method of accounting. This method of accounting requires us to calculate contract profit to be recognized in each reporting period for each contract based upon our projections of future outcomes, which include:

•estimates of the available revenue under the contracts;

•estimates of the total cost to complete the project;

•estimates of project schedule and completion date;

•estimates of the extent of progress toward completion; and

•amount of any change orders or claims included in revenue.

Measurements of progress are based on costs incurred to date as a percentage of total estimated costs or output related to physical progress. At the outset of each contract, we prepare a detailed analysis of our estimated cost to complete the project. Risks related to service delivery, usage, productivity and other factors are considered in the estimation process. We periodically evaluate the estimated costs, claims, change orders and percentage-of-completion at the contract level. The recording of profits and losses on long-term contracts requires an estimate of the total profit or loss over the life of each contract. This estimate requires consideration of total contract value, change orders and claims, less costs incurred and estimated costs to complete. Anticipated losses on contracts are recorded in full in the period in which they become evident. Profits are recorded based upon the total estimated contract profit multiplied by the current estimated percentage complete for the contract. There are many factors that impact future costs, including but not limited to weather, inflation, customer activity levels and budgeting constraints, labor and community disruptions, timely availability of materials, productivity and other factors.

Earnings per Share

Basic earnings per share for all periods presented equals net income divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of our shares outstanding during the period including participating securities, adjusted for the dilutive effect of our stock options, restricted shares, performance units and our outstanding warrants.

Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and are included in the computation of earnings per share following the two-class method. Accordingly, we include our restricted share awards (“RSA”), which contain the right to vote and receive dividends, in the computation of both basic and diluted earnings per share. The following discloses basic and diluted weighted average shares outstanding:



	Year Ended December 31,
(Shares in millions)	2014	2013	2012
Basic and Diluted weighted average shares outstanding	777	772	765

Our basic and diluted weighted average shares outstanding for the years ended December 31, 2014, 2013 and 2012, are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the years ended December 31, 2014, 2013 and 2012, exclude potential shares for stock options, restricted shares and performance units outstanding as we have net losses for those periods and their inclusion would be anti-dilutive. The following table discloses the number of anti-dilutive shares excluded:



	Year Ended December 31,
(Shares in millions)	2014	2013	2012
Anti-dilutive potential shares	5	5	4

New Accounting Pronouncements

In January 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance intended to simplify the complexity of reporting and accounting for extraordinary items. In essence, this new guidance will eliminate the concept of extraordinary items altogether. This guidance is effective beginning with the first quarter of 2016 and early adoption is permitted. We do not expect the impact of our pending adoption of this guidance would have a material effect on our Consolidated Financial Statements or Notes disclosures.

In June 2014, the FASB issued amended guidance on the accounting for certain share-based employee compensation awards. The amended guidance applies to share-based employee compensation awards that include a performance target that affects vesting when the performance target can be achieved after the requisite service period. These targets are to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award and compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. This guidance is effective beginning with the first quarter of 2016 and early adoption is permitted. We currently do not expect the impact of our pending adoption of this guidance to have a material effect on our Consolidated Financial Statements or Notes disclosures.

In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principal, an entity should apply the following five steps: (1) Identify contracts with customers, (2) Identify the performance obligations in the contracts, (3) Determine the transaction price, (4) Allocate the transaction price to the performance obligation in the contract, and (5) Recognize revenue as the entity satisfies performance obligations. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. We are currently evaluating what impact the adoption of this guidance would have on our Consolidated Financial Statements or Notes disclosures.

In April 2014, the FASB issued guidance intended to change the criteria for reporting discontinued operations while enhancing disclosures for discontinued operations. Under the guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. The guidance also requires expanded disclosures about discontinued operations intended to provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Finally, the guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This guidance is effective beginning with the first quarter of 2015 and early adoption is permissible. We elected to early adopt this guidance in three months ended June 2014 and, as required, we have prospectively assessed our assets held for sale in accordance with this guidance. Upon adoption, we recognized no significant impact on our Consolidated Financial Statements.

In July 2013, the FASB issued new guidance intended to clarify the presentation of unrecognized tax benefits. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss or a tax credit carryforward, with certain exceptions. The unrecognized tax benefit should be presented as a liability and should not be combined with deferred tax assets to the extent that: (1) the deferred tax asset is not available under the tax law of the applicable jurisdiction to settle additional income taxes resulting from disallowance of the tax position, or (2) the entity is not required to use the deferred tax asset under the tax law of the applicable jurisdiction and the entity does not intend to use the deferred tax asset to offset additional taxes that would result from disallowance of the position. This guidance was effective for us beginning with the first quarter of 2014 and did not have a material impact on our Consolidated Financial Statements.

Restructuring Charges

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Supplemental Cash Flow Elements [Abstract]

In the fourth quarter of 2014, in response to the significant decline in the price of crude oil and our anticipation of a lower level of exploration and production spending in 2015, we initiated a plan to reduce our overall costs and workforce to better align with anticipated activity levels. This cost reduction plan (“the 2015 Plan”) includes a workforce reduction and other cost reduction measures initiated across our geographic regions.

In the first quarter of 2014, we announced a cost reduction plan (“the 2014 Plan”), which included a worldwide workforce reduction and other cost reduction measures. In connection with the 2014 Plan, we recognized restructuring charges of $273 million in 2014. Our restructuring charges during 2014 in connection with the 2014 Plan include restructuring related asset charges of $135 million, termination (severance) benefits of $114 million, and other restructuring charges of $24 million, for a total of $273 million. Other restructuring charges include contract termination costs, relocation and other associated costs.

The impairments recognized in connection with the 2014 Plan primarily pertain to operations in our Middle East/North Africa (“MENA”) region, where geopolitical issues and recent disruptions in North Africa, primarily Libya, resulted in the decisions in the third quarter of 2014 to exit product lines in selected markets. The 2014 Plan activities resulted in $106 million of cash payments in 2014.

As of December 31, 2014, we completed our planned headcount reductions and closures of underperforming operating locations in connection with the 2014 Plan. The following tables present the components of the restructuring charges by segment.



	Year Ended December 31, 2014
(Dollars in millions)	North America		MENA/Asia Pacific		Europe/SSA/Russia		Latin America		Corporate and Research and Development		Total
2015 Plan:
Severance charges	$	32	$	8	$	5	$	12	$	1	$	58
2014 Plan:
Severance charges	15		23		18		30		28		114
Restructuring related asset charges	24		105		4		—		2		135
Other restructuring charges	3		5		9		7		—		24
	$	74	$	141	$	36	$	49	$	31	$	331

The severance and other restructuring charges gave rise to certain liabilities, the components of which are summarized below, and largely relate to the severance accrued as part of the 2014 Plan and 2015 Plan that will be paid pursuant to the respective arrangements and statutory requirements.



	At December 31, 2014
(Dollars in millions)	North America		MENA/Asia Pacific		Europe/SSA/Russia		Latin America		Corporate and Research and Development		Total
2015 Plan:
Severance liability	$	32	$	6	$	5	$	9	$	1	$	53
2014 Plan:
Severance and other restructuring liability	1		8		6		—		11		26
	$	33	$	14	$	11	$	9	$	12	$	79

The following table presents the restructuring accrual activity for the year ended December 31, 2014.



			Twelve Months Ended December 31, 2014
(Dollars in millions)	Accrued Balance at December 31, 2013		Charges ^(a)		Cash Payments			Other			Accrued Balance at December 31, 2014
2015 Plan:
Severance liability	$	—	$	58	$	(5	)	$	—		$	53
2014 Plan:
Severance charges	—		114		(94		)	(6		)	14
Other restructuring charges	—		24		(12		)	—			12
Severance and other restructuring liability	—		138		(106		)	(6		)	26
	$	—	$	196	$	(111	)	$	(6	)	$	79


(a)	Includes reversal of $5 million severance charges and $2 million facility related charges for the 2014 Plan.

Percentage of Completion Contracts	12 Months Ended
Percentage of Completion Contracts	Dec. 31, 2014
Contractors [Abstract]
Percentage of Completion Contracts	Percentage of Completion Contracts During 2014, we recognized estimated project losses of $72 million related to our long-term early production facility construction contracts in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these loss projects were $379 million at December 31, 2014. As of December 31, 2014, our percentage-of-completion project estimates include $90 million of claims revenue and $24 million of back charges. We have a variety of unapproved contract change orders or claims that are not included in our revenues as of December 31, 2014. The amounts associated with these contract change orders or claims are included in revenue only when they can be estimated reliably and their realization is reasonably assured. During 2014, an additional $80 million of claims revenue was included in our project estimates and $26 million of our prior claims were approved. Our costs in excess of billings as of December 31, 2014 were $128 million and are shown in the “Other Current Assets” line on the balance sheet. During 2013, we recognized estimated project losses of $232 million related to our long-term early production facility construction contracts in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these projects were $307 million at December 31, 2013. As of December 31, 2013, our percentage-of-completion project estimates include $36 million of claims revenue and $82 million for liquidated damages that we are contractually obligated to pay as a result of delays in the expected completion of the project. We have a variety of unapproved contract change orders or claims that were not included in our revenues as of December 31, 2013. The amounts associated with these contract change orders or claims are included in revenue only when they can be estimated reliably and their realization is reasonably assured. During 2012, we recognized losses of $100 million related to a long-term construction contract in Iraq accounted for under the percentage of completion method. In the fourth quarter ended December 31, 2012, we recognized $63 million in revenue upon revision of project estimates on our projects in Mexico. These amounts were determined to be realizable in the fourth quarter of 2012.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2014

Supplemental Cash Flow Information

Cash paid for interest and income taxes was as follows:



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Interest paid, net of capitalized interest	$	511	$	525	$	478
Income taxes paid, net of refunds	386		442		443

In December 2014, we remeasured our Venezuelan bolivar denominated monetary assets and liabilities (primarily cash, accounts receivables, trade payables and other current liabilities) to the SICAD II exchange rate of 50 per U.S. dollar resulting in a $245 million pre-tax charge of which $92 million was related to the remeasurement of cash held in Venezuelan bolivar.

Accounts Receivable Factoring	12 Months Ended
Accounts Receivable Factoring	Dec. 31, 2014
Receivables [Abstract]
Accounts Receivable Factoring	Accounts Receivable Factoring From time to time we may participate in a factoring program to sell accounts receivable in Mexico to third party financial institutions. We did not sell any accounts receivable during 2014. In 2013, we sold $215 million under the program, received cash totaling $204 million and recognized a loss of $3 million on these sales. In 2012, we sold approximately $177 million under the program, received cash totaling $163 million and recognized a loss of $1 million on these sales. Our factoring transactions in 2013 and 2012 qualified for sale accounting under U.S. GAAP and all related proceeds are included as operating cash flows in our Consolidated Statements of Cash Flows.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

Goodwill and Intangible Assets Disclosure [Abstract]

Inventories, Net

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, net of reserves, by category were as follows:



	December 31,
(Dollars in millions)	2014		2013
Raw materials, components and supplies	$	194	$	386
Work in process	135		130
Finished goods	2,758		2,684
	$	3,087	$	3,200

Work in process and finished goods inventories include cost of materials, labor and manufacturing overhead.

During 2014 and 2013, we recognized charges for excess and obsolete inventory totaling $113 million and $62 million, respectively. During 2012, we recognized a charge of $30 million to adjust the carrying value of our guar inventory, a component of certain drilling fluids, to the lower of cost or market. During 2012, we also recognized a charge for excess and obsolete inventory of $53 million. These costs are classified in the caption “Cost of Products” within our Consolidated Statements of Operations.

Long-lived and Other Asset Impairments (Notes)	12 Months Ended
Long-lived and Other Asset Impairments (Notes)	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Long-lived and Other Asset Impairments	Long-lived Asset Impairments In the fourth quarter of 2014, a significant decline in crude oil prices contributed to lower anticipated exploration and production spending and a decline in the anticipated utilization of our drilling rig fleet. The decline and its impact on demand represent a significant adverse change in the business climate and an indication that these long-lived assets may not be recoverable. Based on the impairment indicators noted we performed an analysis of our drilling rig fleet and, in the fourth quarter of 2014, recorded long-lived impairment charges of $352 million to adjust the assets of our rig business to fair value. The impairment charges included the impairment of our drilling rigs and certain related intangible assets. To determine the fair value of these assets we utilized an income approach and assumptions related to future utilization rates of the long-lived assets. The long-lived asset impairments recognized in the fourth quarter of $175 million, $28 million, and $149 million related to our MENA/Asia Pacific, Europe/Sub-Sahara Africa (“SSA”)/Russia, and Latin America segments, respectively. In July 2014, we completed the sale of our rig operations in Russia and Venezuela. We expected the sale would significantly impact the revenues and results of operations of our Russia reporting unit. We considered the associated circumstances and determined that the fair value of our Russia and Latin America reporting units was below their carrying amount. In July 2014, we completed the sale of our rig operations in Russia and Venezuela. As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment charge.

Goodwill

12 Months Ended

Dec. 31, 2014

Goodwill

We perform an impairment test for goodwill annually as of October 1, or more frequently if indicators of potential impairment exist. For the purposes of this test, the fair value of our reporting units is determined using both an income approach and a market approach. Through the income approach we estimate fair value by discounting each reporting unit’s estimated future cash flows using a weighted-average cost of capital that reflects current market conditions and considers the risk profile of each reporting unit. Through the market approach we estimate fair value using both forward and trailing-twelve-month earnings multiples derived from recent representative transactions and observable market multiples.

Our reporting units are components of our operating segments, certain of which are aggregated. Our reporting units include the United States, Canada, Latin America, Europe, SSA, Russia, MENA and Asia Pacific. In addition, five additional reporting units were identified in the current period representing the rigs business in each region with the exception of the United States, Canada and Russia.

Our annual goodwill impairment test indicated that the goodwill of the rigs reporting units in Latin America, Europe and Asia Pacific was potentially impaired. The results of our “step-one” analysis were accompanied by other indicators in the form of a decline in the anticipated utilization rates for our drilling rig fleet. Responsive to the impairment indicators noted, we performed a “step two” analysis, comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The “step two” analysis indicated that the goodwill for these reporting units was fully impaired and we recognized an impairment loss of $40 million in the fourth quarter, of which $15 million, $13 million, $12 million, were attributable to the Latin America, Europe and Asia Pacific rigs reporting units, respectively.

In addition, during the second quarter of 2014, we engaged in negotiations to sell our land drilling and workover operations in Russia and Venezuela and we subsequently entered into an agreement to sell the business in July 2014. During this timeframe we expected the sale would significantly impact the revenues and results of operations of our Russia reporting unit, and consequently, we considered the associated circumstances to assess whether an event or change had occurred that, more likely than not, reduced the fair value of our reporting units below their carrying amount. We concluded that the planned sale represented an indicator of impairment and we prepared the analysis necessary to identify the potential impairment and recognize any necessary impairment loss. The analysis indicated that the goodwill for the Russia reporting unit was impaired, we recognized a goodwill impairment loss of $121 million, $95 million of which pertained to goodwill classified, at the time, in current assets held for sale. See “Note 2 – Business Combinations and Divestitures” for additional information regarding the non-cash impairment charges to our assets held for sale.

During the second quarter of 2012, we noted a sustained decline in the market price of our registered shares such that our market capitalization was lower than our total shareholders’ equity for an extended period. Additionally, certain of our reporting units were not performing at the levels previously expected. In response, we considered the associated circumstances to assess whether an event or change occurred that, more likely than not, reduced the fair value of any of our reporting units below their carrying amount. After considering the relevant circumstances, we concluded that the decline in our market capitalization was a potential indicator of impairment and we prepared the analysis necessary to identify potential impairment through the comparison of reporting unit fair values and carrying amounts. This “step one” analysis indicated that the goodwill attributed to our MENA and SSA reporting units was potentially impaired. Consequently, we performed the “step two” analysis of the goodwill impairment test, comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The “step two” analysis indicated that the goodwill for both reporting units was fully impaired and we recognized an impairment loss of $589 million in the second quarter, of which $512 million was attributable to MENA and $77 million to SSA.

The changes in the carrying amount of goodwill by reportable segment for the two years ended December 31, 2014 and 2013, were as follows:



(Dollars in millions)	North America			MENA/ Asia Pacific			Europe/ SSA/ Russia			Latin America			Total
Balance at December 31, 2012	$	2,336		$	226		$	955		$	354		$	3,871
Acquisitions	—			—			2			—			2
Disposals	(23		)	(4		)	(13		)	(1		)	(41		)
Purchase price and other adjustments	1			—			(3		)	2			—
Foreign currency translation	(71		)	(13		)	(29		)	(10		)	(123		)
Reclassification to current assets held for sale	(262		)	(2		)	(143		)	(12		)	(419		)
Balance at December 31, 2013	$	1,981		$	207		$	769		$	333		$	3,290

Impairment	$	—		$	(12	)	$	(39	)	$	(15	)	$	(66	)
Acquisitions	—			6			—			—			6
Purchase price and other adjustments	1			—			8			(14		)	(5		)
Foreign currency translation adjustments	(86		)	(6		)	(115		)	(7		)	(214		)
Balance at December 31, 2014	$	1,896		$	195		$	623		$	297		$	3,011

Other Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

The components of intangible assets were as follows:



	December 31, 2014										December 31, 2013
													Assets
	Gross								Net		Gross		Classified						Net
	Carrying		Accumulated						Intangible		Carrying		as Held for			Accumulated			Intangible
(Dollars in millions)	Amount		Amortization			Impairment			Assets		Amount		Sale			Amortization			Assets
Acquired technology	$	420	$	(287	)	$	—		$	133	$	417	(4		)	$	(238	)	$	175
Licenses	242		(169		)	—			73		261		(1		)	(161		)	99
Patents	232		(117		)	—			115		271		(4		)	(129		)	138
Customer relationships and contracts	205		(122		)	(5		)	78		329		(46		)	(163		)	120
Other	85		(38		)	(6		)	41		91		(5		)	(52		)	34
	$	1,184	$	(733	)	$	(11	)	$	440	$	1,369	$	(60	)	$	(743	)	$	566

We have trademarks that are considered to have indefinite lives as we have the ability and intent to renew them indefinitely. These trademarks had a carrying value of $7 million and $12 million at December 31, 2014 and 2013, respectively, and are included in the Other caption in the table above. During 2014 we recognized an impairment charge to indefinite lived trademarks of $5 million. In addition, we recognized other intangible asset impairments of $6 million, largely related to our Rigs business.

Additions to intangible assets were $5 million and $15 million for the years ended December 31, 2014 and 2013, respectively.

Amortization expense was $108 million, $120 million and $122 million for the years ended December 31, 2014, 2013 and 2012, respectively. Future estimated amortization expense for the carrying amount of intangible assets as of December 31, 2014 is expected to be as follows (dollars in millions):



Period	Amount
2015	$	71
2016	58
2017	58
2018	54
2019	46

Equity Investments

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments

Our equity investments in unconsolidated affiliates were as follows:



	December 31,
(Dollars in millions)	2014		2013
Proserv Group Inc.	$	—	$	168
Other equity investments	106		128
Total equity method investments	$	106	$	296

During 2014, we sold our interests in Proserv, resulting in a gain on the sale of $65 million. In 2013, we sold our interest in Borets resulting in a gain on the sale of $18 million (see “Note 2 – Business Combinations and Divestitures”). Equity in earnings of unconsolidated affiliates for the years ended December 31, 2014, 2013 and 2012 totaled $9 million, $37 million and $51 million, respectively.

In 2012, it was determined that the fair value attributable to certain equity investments was below our carrying value for these certain investments, resulting in an impairment loss of $204 million during the second quarter of 2012.

Short-term Borrowings and Current Portion of Long-term Debt

12 Months Ended

Dec. 31, 2014

Short-term Borrowings and Current Portion of Long-term Debt

Our short-term borrowings and current portion of long-term debt consists of the followings:



	December 31,
(Dollars in millions)	2014			2013
Commercial paper program	$	245		$	292
Revolving credit facility	—			772
364-day term loan facility	175			300
Other short-term bank loans	257			216
Total short-term borrowings	677			1,580
Current portion of long-term debt	50			73
Short-term borrowings and current portion of long-term debt	$	727		$	1,653
Weighted average interest rate on short-term borrowings outstanding at end of year	1.4		%	1.7		%

Revolving Credit Facility

We maintain a $2.25 billion unsecured, revolving credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, scheduled to mature July 13, 2016. The Credit Agreement can be used for a combination of borrowings, support for our $2.25 billion commercial paper program and issuances of letters of credit. This agreement requires that we maintain a debt-to-total capitalization ratio of less than 60%. We were in compliance with this covenant at December 31, 2014. At December 31, 2014, our outstanding commercial paper had a weighted average interest rate of 0.9%, and there were $30 million in outstanding letters of credit under the Credit Agreement.

364-Day Term Loan Facility

We have a $400 million, 364-day term loan facility with a syndicate of banks. The facility will mature on April 9, 2015. Proceeds from the 364-day term loan facility were used to refinance our previous 364-day term loan facility. The facility has substantially similar terms and conditions to our previously existing $300 million, 364-day term loan facility and also includes the same debt-to-capitalization requirement that is contained in our Credit Agreement, with which we are in compliance. At December 31, 2014, our borrowings under our 364-day term loan facility had an interest rate of 1.9%. As of December 31, 2014, $225 million was repaid, leaving an outstanding balance of $175 million.

Other Short-Term Borrowings

We have short-term borrowings with various domestic and international institutions pursuant to uncommitted facilities. At December 31, 2014, we had $257 million in short-term borrowings under these arrangements with a weighted average interest rate of 1.6%, including $180 million borrowed under a credit agreement entered into in March 2014 that matures on March 20, 2016, with a Libor-based interest rate of 1.3% as of December 31, 2014. In addition, we had $568 million of letters of credit under various uncommitted facilities and $278 million of surety bonds, primarily performance bonds, issued by financial sureties against an indemnification from us at December 31, 2014.

The carrying value of our short-term borrowings approximates their fair value as of December 31, 2014. The current portion of long-term debt at December 31, 2014, is primarily related to our capital leases.

Long-term Debt

12 Months Ended

Dec. 31, 2014

Fair Value of Financial Instruments

Long-term Debt

We have issued various senior notes, all of which rank equally with our existing and future senior unsecured indebtedness, which have semi-annual interest payments and no sinking fund requirements. Our Long-term Debt consisted of the following:



	December 31,
(Dollars in millions)	2014		2013
5.50% Senior Notes due 2016	$	352	$	353
6.35% Senior Notes due 2017	607		610
6.00% Senior Notes due 2018	498		498
9.625% Senior Notes due 2019	1,018		1,021
5.125% Senior Notes due 2020	798		798
4.50% Senior Notes due 2022	715		747
6.50% Senior Notes due 2036	556		595
6.80% Senior Notes due 2037	298		298
7.00% Senior Notes due 2038	497		497
9.875% Senior Notes due 2039	247		247
6.75% Senior Notes due 2040	596		596
5.95% Senior Notes due 2042	478		545
4.82% secured borrowing	12		102
Capital and other lease obligations	136		153
Other	40		74
Total Notes Balance	6,848		7,134
Less amounts due in one year	50		73
Long-term debt	$	6,798	$	7,061

The following is a summary of scheduled Long-term Debt maturities by year (dollars in millions):



2015	$	50
2016	395
2017	628
2018	512
2019	45
Thereafter	5,218
	$	6,848

In December 2014, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes and 6.5% senior notes with an aggregate book value of $138 million and recognized a gain of approximately $11 million.

On April 4, 2012, we completed a $1.3 billion long-term debt offering comprised of $750 million of 4.5% senior notes and $550 million of 5.95% senior notes. The net proceeds from this offering were used to repay short-term indebtedness under our commercial paper program and for general corporate purposes.

In 2012, we received sufficient consents to extend the due date for providing our Form 10-Q filings and our 2012 Form 10-K filing to all series of our publicly traded senior notes. We offered a cash payment of $2.50 for each $1,000 in principal amount for those note holders who consented to the extension and we paid approximately $18 million to the holders of our senior notes in connection with this consent solicitation, which was recognized as an increase in interest expense over the remaining terms of the senior notes. We also incurred and expensed in 2012 other costs, including fees and expenses, of $12 million in connection with our debt consent solicitation.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Financial Instruments Measured and Recognized at Fair Value

We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three level hierarchy, from highest to lowest level of observable inputs. Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 inputs are quoted prices or other market data for similar assets and liabilities in active markets, or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based upon our own judgment and assumptions used to measure assets and liabilities at fair value. Classification of a financial asset or liability within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement. Other than the contingent consideration discussed in “Note 2 – Business Combinations and Divestitures” and our derivative instruments discussed in “Note 15 – Derivative Instruments,” we had no assets or liabilities measured and recognized at fair value on a recurring basis at December 31, 2014 and 2013.

Fair Value of Other Financial Instruments

Our other financial instruments include short-term borrowings and long-term debt. The carrying value of our commercial paper and other short-term borrowings approximates their fair value due to the short-term duration of the associated interest rate periods. 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. The fair value of our Long-term Debt is classified as Level 2 in the fair value hierarchy.

The fair value and carrying value of our senior notes were as follows:



	December 31,
(Dollars in millions)	2014		2013
Fair value	$	6,733	$	7,580
Carrying value	6,660		6,805

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

12 Months Ended

Dec. 31, 2014

Derivative Instruments

We are exposed to market risk from changes in foreign currency and changes in interest rates. From time to time, we may enter into derivative financial instrument transactions to manage or reduce our market risk. We manage our debt portfolio to achieve an overall desired position of fixed and floating rates, and we may employ interest rate swaps as a tool to achieve that goal. The major risks from interest rate derivatives include changes in the interest rates affecting the fair value of such instruments, potential increases in interest expense due to market increases in floating interest rates and the creditworthiness of the counterparties in such transactions. In light of events in the global credit markets and the potential impact of these events on the liquidity of the banking industry, we continue to 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. Level 2 values for financial assets and liabilities are based on quoted prices in inactive markets, or whose values are based on models. Level 2 inputs to those models are observable either directly or indirectly for substantially the full term of the asset or liability.

Fair Value Hedges

We may use interest rate swaps to help mitigate exposures related to changes in the fair values of the associated debt. Amounts paid or received upon termination of interest rate swaps accounted for as fair value hedges represent the fair value of the agreements at the time of termination and are amortized as a reduction, in the case of gains, or as an increase, in the case of losses, of interest expense over the remaining term of the debt.

In June 2012, we terminated interest rate swap agreements to pay a variable interest rate and receive a fixed interest rate with an aggregate notional amount of $300 million. These swaps were designated as fair value hedges of our 6.35% senior notes. As a result of these terminations, we received a cash settlement of $18 million. The gain associated with these interest rate swap terminations was deferred and is being amortized over the remaining term of our 6.35% senior notes as a reduction in interest expense.

As of December 31, 2014 and 2013, we had net unamortized gains of $33 million and $42 million, respectively, associated with interest rate swap terminations.

Cash Flow Hedges

In 2008, we entered into interest rate derivative instruments to hedge projected exposures to interest rates in anticipation of a debt offering. These hedges were terminated at the time of the issuance of the debt and the associated loss on these hedges is being amortized from Accumulated Other Comprehensive Income (Loss) into interest expense over the remaining term of the debt. As of December 31, 2014 and 2013, we had net unamortized losses of $11 million in both periods associated with our cash flow hedge terminations.

Other Derivative Instruments

We enter into contracts to hedge our exposure to currency fluctuations in various foreign currencies. As of December 31, 2014 and 2013, we had outstanding foreign currency forward contracts with total notional amounts aggregating $1.6 billion and $992 million, respectively. The notional amounts of our foreign currency forward contracts do not generally represent amounts exchanged by the parties and thus are not a measure of the cash requirements related to these contracts or of any possible loss exposure. The amounts actually exchanged are calculated by reference to the notional amounts and by other terms of the derivative contracts, such as exchange rates.

We have cross-currency swaps between the U.S. dollar and Canadian dollar to hedge certain exposures to the Canadian dollar. At December 31, 2014 and 2013, we had swaps with notional amounts outstanding of $168 million for each year. These derivative instruments for foreign currency forward contracts and cross-currency swaps were not designated as hedges, and the changes in fair value of the contracts are recorded in current earnings each period in the line captioned “Other, Net” on the accompanying Consolidated Statements of Operations.

The total estimated fair values of these foreign currency forward contracts and amounts receivable or owed associated with closed foreign currency contracts and the total estimated fair value of our cross-currency contracts are as follows:



	December 31,
(Dollars in millions)	2014			2013			Classifications
Derivative assets not designated as hedges:
Foreign currency forward contracts	$	12		$	5		Other Current Assets

Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(17		)	(6		)	Other Current Liabilities
Cross-currency swap contracts	(5		)	(21		)	Other Liabilities

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statements of Operations is in the table below.



Gain (Loss) Recognized in Statement of Operations	Twelve Months Ended December 31,
(Dollars In millions)	2014			2013			Classification
Derivatives designated as fair value hedges:
Interest rate swaps	$	9		$	10		Interest Expense, Net

Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(22		)	(12		)	Other, Net
Cross-currency swap contracts	16			13			Other, Net

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Changes in our Issued and Treasury shares during the years ended December 31, 2014, 2013 and 2012, were as follows:



(Shares in millions)	Issued		Treasury
Balance at December 31, 2011	765		(16	)
Shares issued for acquisitions	—		3
Equity awards granted, vested and exercised	—		4
Shares issued for warrants	5		—
Shares issued for internal restructuring	70		(70	)
Balance at December 31, 2012	840		(79	)
Equity awards granted, vested and exercised	—		6
Balance at December 31, 2013	840		(73	)
Change in Shares Associated with Redomestication	(840	)	71
Issuance of Weatherford Ireland Shares	774		—
Equity awards granted, vested and exercised	—		2
Balance at December 31, 2014	774		—

On June 17, 2014, we completed the change in our place of incorporation from Switzerland to Ireland, whereby Weatherford Ireland became the new public holding company and the parent of the Weatherford group of companies, pursuant to which each registered share of Weatherford Switzerland was exchanged as consideration for the allotment of one ordinary share of Weatherford Ireland (excluding shares held by, or for the benefit of, Weatherford Switzerland or any of its subsidiaries). The Weatherford Switzerland shares were then cancelled. Weatherford Ireland issued ordinary shares with a par value of $0.001 per share. In conjunction with the redomestication, the shares held by our executive deferred compensation plan were sold and the remaining treasury shares were cancelled.

Effective May 23, 2012, we issued 70 million shares to one of our subsidiaries in an internal restructuring of certain of our assets.

Warrants

On February 28, 2012, 4.3 million outstanding warrants to purchase our shares were exercised through physical delivery of shares in exchange for $65 million and an additional 4.3 million warrants were exercised through net share settlement resulting in the issuance of 494 thousand shares.

Accumulated Other Comprehensive Loss

The following table presents the changes in our accumulated other comprehensive loss by component for the year ended December 31, 2014 and 2013:



(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at January 1, 2013	$	213		$	(40	)	$	(10	)	$	163
Other comprehensive income before reclassifications	(316		)	—			—			(316		)
Reclassifications	(37		)	2			1			(34		)
Net activity	(353		)	2			1			(350		)
Balance at December 31, 2013	(140		)	(38		)	(9		)	(187		)
Other comprehensive income before reclassifications	(763		)	(21		)	—			(784		)
Reclassifications	90			2			—			92
Other	—			—			(2		)	(2		)
Net activity	(673		)	(19		)	(2		)	(694		)
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)

The reclassification from the currency translation adjustment component of other comprehensive income includes $90 million from the sale of our land drilling and workover rig operations in Russia and Venezuela and pipeline and specialty service businesses. This amount was recognized in the “Gain on Sale of Businesses and Investments, Net” line in our Consolidated Statements of Operations for the year ended December 31, 2014.

The 2013 reclassification from the currency translation adjustment component of other comprehensive income includes $30 million from the sale of our industrial screen business. This amount was recognized in the “Gain on Sale of Businesses and Investments, Net” line in our Consolidated Statements of Operations for the year ended December 31, 2013.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

12 Months Ended

Dec. 31, 2014

Share-Based Compensation

Incentive Plans

Our incentive plans permit the grant of options, stock appreciation rights, RSAs, restricted share units (“RSUs”), performance share awards, performance unit awards (“PUs”), other share-based awards and cash-based awards to any employee, non-employee directors and other individual service providers or any affiliate. Compensation expense is recognized on a straight-line basis over the requisite service period for the separately vesting portion of each award.

The provisions of each award vary based on the type of award granted and are determined by the Compensation Committee of our Board of Directors. Those awards, such as stock options that are based on a specific contractual term, will be granted with a term not to exceed 10 years. Upon grant of an RSA, the recipient has the rights of a shareholder, including but not limited to the right to vote such shares and the right to receive any dividends paid on such shares, but not the right to disposition prior to vesting. Recipients of RSU awards do not have the rights of a shareholder until such date as the shares are issued or transferred to the recipient. As of December 31, 2014, approximately 13.2 million shares were available for grant under our incentive plans.

Share-Based Compensation Expense

We recognized the following share-based compensation expense during each of the years ended December 31, 2014, 2013 and 2012:



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Share-based compensation	$	56	$	66	$	76
Related tax benefit	12		11		27

Options

Stock options were granted with an exercise price equal to or greater than the fair market value of our shares as of the date of grant. We used the Black-Scholes option pricing model to determine the fair value of stock options awarded. The estimated fair value of our stock options was expensed over their vesting period, which was generally one to four years. There were no stock options granted during 2014, 2013 or 2012. The intrinsic value of stock options exercised during 2014, 2013 and 2012 was $13 million, $12 million and $4 million, respectively. We received cash proceeds of $11 million from the exercise of stock options during the year ended December 31, 2014. All options were fully vested as of December 31, 2012.

A summary of option activity for the year ended December 31, 2014, is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Term	Aggregate Intrinsic Value
	(In thousands)					(In thousands)
Outstanding at December 31, 2013	7,956		$	9.31	2.01 years	$	54,775
Exercised	(1,313	)	8.24
Outstanding and Vested at December 31, 2014	6,643		9.52		1.18 years	23,500

Exercisable at December 31, 2014	5,368		7.07		1.03 years	23,500

Restricted Share Awards and Restricted Share Units

RSAs and RSUs vest based on continued employment, generally over a two to five-year period. The fair value of RSAs and RSUs is determined based on the closing price of our shares on the date of grant. The total fair value, less assumed forfeitures, is expensed over the vesting period. The weighted-average grant date fair value of RSAs and RSUs granted during the years ended December 31, 2014, 2013 and 2012 was $18.98, $13.49 and $13.30, respectively. The total fair value of RSAs and RSUs vested during the years ended December 31, 2014, 2013 and 2012 was $52 million, $61 million and $78 million, respectively. As of December 31, 2014, there was $77 million of unrecognized compensation expense related to unvested RSAs and RSUs, which is expected to be recognized over a weighted average period of two years. A summary of RSA and RSU activity for the year ended December 31, 2014 is presented below:



	RSA		Weighted Average Grant Date Fair Value		RSU		Weighted Average Grant Date Fair Value
	(In thousands)				(In thousands)
Non-Vested at December 31, 2013	3,211		$	14.80	3,137		$	14.26
Granted	425		17.72		2,997		19.16
Vested	(1,171	)	14.87		(1,633	)	15.29
Forfeited	(211	)	14.97		(201	)	15.93
Non-Vested at December 31, 2014	2,254		15.31		4,300		17.21

Performance Units

The performance units we granted in 2014 vest over three years and the performance units we granted prior to 2014 vest at the end of a three-year period assuming continued employment and the Company’s achievement of certain market-based performance goals. Depending on the performance levels achieved in relation to the predefined targets, shares may be issued for 50% to 225% of the units awarded. If the threshold market conditions are not met, the performance units will expire unvested and no shares will be issued. The grant date fair value of the performance units we have granted was determined through use of the Monte Carlo simulation method. The assumptions used in the Monte Carlo simulation during the year ended December 31, 2014, included a risk-free rate of 0.34%, volatility of 33.53% and a zero dividend yield. The weighted-average grant date fair value of the performance units we granted during the years ended December 31, 2014, 2013 and 2012 was $14.31, $10.81 and $21.32, respectively. The total fair value of shares issued in connection with performance units during the years ended December 31, 2014, 2013 and 2012 was $11 million, $8 million and $1 million, respectively. For the year ended December 31, 2014 and 2013, 541 thousand and 1.3 million shares of stock were issued, respectively, for the performance units related to the departure of certain former executive officers. As of December 31, 2014, there was $12 million of unrecognized compensation expense related to performance units, which is expected to be recognized over a weighted average period of one year.

A summary of performance unit activity for the year ended December 31, 2014, is presented below:



	Performance Units		Weighted Average Grant Date Fair Value
	(In thousands)
Non-vested at December 31, 2013	1,911		$	16.05
Granted	801		14.31
Vested	(282	)	12.49
Forfeited	(482	)	28.61
Non-vested at December 31, 2014	1,948		12.74

Retirement and Employee Benefit Plans

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Retirement and Employee Benefit Plans

We have defined contribution plans covering certain employees. Contribution expenses related to these plans totaled $79 million, $73 million and $62 million in 2014, 2013 and 2012, respectively.

We have defined benefit pension and other post-retirement benefit plans covering certain U.S. and international employees. Plan benefits are generally based on factors such as age, compensation levels and years of service. Net periodic benefit cost related to these plans totaled $18 million, $20 million and $16 million in 2014, 2013 and 2012, respectively. The projected benefit obligations on a consolidated basis were $325 million and $297 million as of December 31, 2014 and 2013, respectively. Actuarial losses totaling $42 million and offsetting currency fluctuations of $28 million were the two main components affecting the obligation during the year other than expected service and interest costs. The fair values of plan assets on a consolidated basis (determined primarily using Level 2 inputs) were $161 million and $151 million as of December 31, 2014 and 2013, respectively. Currency fluctuations also had an impact on assets, reducing the increase in value related to asset returns and contributions. The net underfunded obligation was substantially all recorded within Other Noncurrent Liabilities at each balance sheet date. Additionally, consolidated amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost were $75 million and $52 million as of December 31, 2014 and 2013, respectively. The increase in other comprehensive income year over year is due to an annual net loss of $33 million resulting primarily from a decrease in discount rates.

The weighted average assumption rates used for benefit obligations were as follows:



	Year Ended December 31,
	2014	2013
Discount rate:
United States plans	1.00% - 4.00%	1.00% - 4.75%
International plans	1.65% - 7.00%	3.50% - 7.00%
Rate of compensation increase:
United States plans	—	—
International plans	2.00% - 3.30%	3.00% - 4.50%

During 2014 and 2013, we contributed $14 million and $12 million, respectively, to our defined benefit pension and other post-retirement benefit plans. In 2015, we expect to contribute approximately $6 million to those plans.

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

We are exempt from Swiss cantonal and communal tax on income derived outside Switzerland, and we are also granted participation relief from Swiss federal tax for qualifying dividend income and capital gains related to the sale of qualifying investments in subsidiaries. We expect that the participation relief will result in a full exemption of participation income from Swiss federal income tax.

We provide for income taxes based on the laws and rates in effect in the countries in which operations are conducted, or in which we or our subsidiaries are considered resident for income tax purposes. The relationship between our pre-tax income or loss and our income tax provision or benefit varies from period to period as a result of various factors which include changes in total pre-tax income or loss, the jurisdictions in which our income is earned, the tax laws in those jurisdictions and in our operating structure.

Our income tax (provision) benefit from continuing operations consisted of the following:



	Year Ended December 31,
(Dollars in millions)	2014			2013			2012
Total current provision	$	(350	)	$	(177	)	$	(475	)
Total deferred benefit	66			33			13
Provision for Income Taxes	$	(284	)	$	(144	)	$	(462	)

The difference between the income tax provision at the Swiss federal income tax rate and the income tax provision attributable to “Loss Before Income Taxes” for each of the three years ended December 31, 2014, 2013 and 2012 is analyzed below:



	Year Ended December 31,
(Dollars in millions)	2014			2013			2012
Swiss federal income tax rate at 7.83%	$	20		$	13		$	23
Tax on operating earnings subject to rates different than the Swiss federal income tax rate	(70		)	89			(341		)
Tax on divestitures gains subject to different tax rate	(109		)	—			—
Change in valuation allowance	(222		)	(264		)	(108		)
Change in uncertain tax positions	97			18			(36		)
Provision for Income Taxes	$	(284	)	$	(144	)	$	(462	)

In 2014, we had a tax provision of $284 million on a loss before income taxes of $255 million. Our results for 2014 include a $161 million goodwill impairment charge, a $245 million loss due to the devaluation of Venezuela bolivar and $72 million of project losses related to our early production facility contracts in Iraq, all of which provided no tax benefit. In addition, we incurred a $495 million long-lived assets impairments charge, with limited tax benefit. During 2014, we also sold our land drilling and workover rig operations in Russia and Venezuela, pipeline and specialty services business, engineered chemistry, Integrity drilling fluids business and our equity investment in Proserv for a total gain of approximately $349 million.

In 2013, our income before tax included a $153 million charge for the settlement of the United Nations oil-for-food program governing sales of goods into Iraq and Foreign Corrupt Practices Act (“FCPA”) matters, a $299 million loss on certain legacy projects in Iraq, $98 million of bad debt expense, which included an increase to the allowance for doubtful accounts in Venezuela, and a $100 million loss due to the devaluation of the Venezuelan bolivar, all with no or little tax benefit. Our 2013 tax provision included certain discrete tax benefits primarily due to tax planning activities, decreases in reserves for uncertain tax positions due to statute of limitation expiration and audit closures and the enactment of the American Taxpayer Relief Act, which decreased our effective tax rate for the period.

In 2012, our results included a $589 million goodwill impairment charge, substantially all of which was non-deductible, a $204 million equity method impairment charge and a $100 million accrual for a loss contingency, both of which were fully non-deductible.

Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the tax basis of an asset or liability and its reported amount in the Consolidated Financial Statements. The measurement of deferred tax assets and liabilities is based on enacted tax laws and rates currently in effect in each of the jurisdictions in which we have operations. Deferred tax assets and liabilities are classified as current or non-current according to the classification of the related asset or liability for financial reporting.

The components of the net deferred tax asset (liability) attributable to continuing operations were as follows:



	December 31,
(Dollars stated in millions)	2014			2013
Net operating losses carryforwards	$	600		$	614
Accrued liabilities and reserves	235			224
Tax credit carryforwards	103			115
Employee benefits	70			54
Inventory	70			51
Other differences between financial and tax basis	108			79
Valuation allowance	(732		)	(554		)
Total deferred tax assets	454			583
Deferred tax liabilities:
Property, plant and equipment	(324		)	(415		)
Intangible assets	(206		)	(221		)
Deferred Income	(22		)	(6		)
Other differences between financial and tax basis	(21		)	(22		)
Total deferred tax liabilities	(573		)	(664		)
Net deferred tax liability	$	(119	)	$	(81	)

The overall increase in the valuation allowance in both 2014 and 2013 is primarily attributable to the establishment of a valuation allowance against current year net operating losses ("NOLs") and tax credits in various jurisdictions. Our results in 2014 include significant tax losses in Mexico, Venezuela, and Iraq and in 2013 include significant tax losses in Iraq which we recorded a valuation allowance of $172 million and $134 million, respectively.

Deferred income taxes generally have not been recognized on the cumulative undistributed earnings of our non-Swiss subsidiaries because they are considered to be indefinitely reinvested or they can be distributed on a tax free basis. Distribution of these earnings in the form of dividends or otherwise may result in a combination of income and withholding taxes payable in various countries. As of December 31, 2014, the cumulative undistributed earnings of our non-Swiss subsidiaries that are considered indefinitely reinvested and may be subject to tax if distributed amount to approximately $3 billion. Due to complexities in the tax laws and the manner of repatriation, it is not practicable to estimate the unrecognized amount of deferred income taxes and the related dividend withholding taxes associated with these undistributed earnings.

At December 31, 2014, we had approximately $2.6 billion of NOLs in various jurisdictions, $239 million of which were generated by certain U.S. subsidiaries. Loss carryforwards, if not utilized, will mostly expire for U.S. subsidiaries in 2030 and 2033 and at various dates from 2015 through 2034 for non-U.S. subsidiaries. At December 31, 2014, we had $103 million of tax credit carryovers, of which $85 million is for U.S. subsidiaries. The U.S. credits primarily consists of $28 million of research and development tax credit carryforwards which expire from 2017 through 2034, and $57 million of foreign tax credit carryforwards which expire from 2015 through 2022.

A tabular reconciliation of the total amounts of uncertain tax positions at the beginning and end of the period is as follows:



	Year Ended December 31,
(Dollars stated in millions)	2014			2013			2012
Balance at beginning of year	$	289		$	296		$	292
Additions as a result of tax positions taken during a prior period	23			64			8
Reductions as a result of tax positions taken during a prior period	(35		)	(12		)	(1		)
Additions as a result of tax positions taken during the current period	2			31			29
Reductions relating to settlements with taxing authorities	(24		)	(60		)	(14		)
Reductions as a result of a lapse of the applicable statute of limitations	(9		)	(19		)	(19		)
Foreign exchange effects	(11		)	(11		)	1
Balance at end of year	$	235		$	289		$	296

Substantially all of the uncertain tax positions, if recognized in future periods, would impact our effective tax rate. To the extent penalties and interest would be assessed on any underpayment of income tax, such amounts have been accrued and classified as a component of income tax expense and other non-current liabilities in the Consolidated Financial Statements in accordance with our accounting policy. We recorded benefits of $53 million and $21 million and an expense of $21 million of interest and penalties for the years ended December 31, 2014, 2013 and 2012, respectively. The amounts in the table above exclude accrued interest and penalties of $58 million, $121 million and $142 million at December 31, 2014, 2013 and 2012, respectively, which are included in other liabilities.

We are subject to income tax in many of the over 100 countries where we operate. As of December 31, 2014, the following table summarizes the tax years that remain subject to examination for the major jurisdictions in which we operate:



Canada	2007 - 2014
Mexico	2007 - 2014
Russia	2012 - 2014
Switzerland	2009 - 2013
United States	2007 - 2014
Venezuela	2009 - 2014

We anticipate that it is reasonably possible that the amount of uncertain tax positions may decrease by up to $24 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

Disputes, Litigation and Contingencies	12 Months Ended
Disputes, Litigation and Contingencies	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Disputes, Litigation and Contingencies	Disputes, Litigation and Contingencies Shareholder Litigation In 2010, three shareholder derivative actions were filed, purportedly on behalf of the Company, asserting breach of duty and other claims against certain 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 FCPA and trade sanctions related to the U.S. government investigations disclosed above and in our U.S. Securities and Exchange Commission (the “SEC”) filings since 2007. Those shareholder derivative cases, captioned Neff v. Brady, et al., No. 201040764, Rosner v. Brady, et al., No. 201047343, and Hess v. Duroc-Danner, et al., No. 201040765, were filed in Harris County, Texas state court and consolidated (collectively referred to as the “Neff Case”). In 2014, one of the three cases, Hess v. Duroc-Danner, et al., No. 201040765, was voluntarily dismissed from the Neff Case. Other shareholder demand letters covering the same subject matter were received by the Company in early 2014, and a fourth shareholder derivative action was filed, purportedly on behalf of the Company, also asserting breach of duty and other claims against certain current and former officers and directors of the Company related to the same subject matter as the Neff Case. That case, captioned Erste-Sparinvest KAG v. Duroc-Danner, et al., No. 201420933 (Harris County, Texas) was consolidated into the Neff Case in September 2014. A motion to dismiss the consolidated action is pending. In March 2011, a shareholder derivative action, Iron Workers Mid-South Pension Fund v. Duroc-Danner, et al., No. 201119822, was filed in Harris County, Texas, civil court purportedly on behalf of the Company against certain current and former officers and directors, alleging breaches of duty related to the material weakness and restatement announcements. In February 2012, a second substantially similar shareholder derivative action, Wandel v. Duroc-Danner, et al., No. 1:12-cv-01305-LAK (SDNY), was filed in federal court in the Southern District of New York. In March 2012, a purported securities class action captioned Freedman v. Weatherford International Ltd., et al., No. 1:12-cv-02121-LAK (SDNY) was filed in the Southern District of New York against us and certain current and former officers. That case alleges violation of the federal securities laws related to the restatement of our historical financial statements announced on February 21, 2012, and later added claims related to the announcement of a subsequent restatement on July 24, 2012. In the three months ended December 31, 2014, we advanced settlement negotiations such that settlement is deemed probable and we maintain an accrual of the estimated probable loss. We cannot predict the outcome of these cases including the amount of any possible loss. If one or more negative outcomes were to occur relative to these cases, the aggregate impact to our financial condition could be material. In March 2011, a purported shareholder class action captioned Dobina v. Weatherford International Ltd., et al., No. 1:11-cv-01646-LAK (SDNY), was filed in the U.S. District Court for the Southern District of New York, following our announcement on March 1, 2011 of a material weakness in our internal controls over financial reporting for income taxes, and restatement of our historical financial statements (the “2011 Class Action”). The lawsuit alleged violation of the federal securities laws by us and certain current and former officers. During the three months ended December 31, 2013, we entered into negotiations to settle the 2011 Class Action. As a result of these negotiations, settlement became probable and a settlement agreement was signed on January 29, 2014. The settlement was approved by the U.S. District Court for the Southern District of New York on January 5, 2015, and final judgment entered on January 30, 2015. The settlement agreement required payments totaling $53 million which was entirely funded by our insurers. U.S. Government and Internal Investigations On January 17, 2014, the U.S. District Court for the Southern District of Texas approved the settlement agreements between us and certain of our subsidiaries and the U.S. Department of Justice (“DOJ”). On November 26, 2013, we announced that we and our subsidiaries also entered into settlement agreements with the U.S. Departments of Treasury and Commerce and with the SEC, which the U.S. District Court for the Southern District of Texas entered on December 20, 2013. These agreements collectively resolved investigations of prior alleged violations by us and certain of our subsidiaries relating to certain trade sanctions laws, participation in the United Nations oil-for-food program governing sales of goods into Iraq and non-compliance with FCPA matters. The $253 million payable by us and our subsidiaries was paid in January and February 2014 pursuant to the terms of the settlement agreements. These agreements include a requirement to retain, for a period of at least 18 months, an independent monitor responsible for assessing our compliance with the terms of the agreement so as to address and reduce the risk of recurrence of alleged misconduct, after which we would continue to evaluate our own compliance program and make periodic reports to the DOJ and SEC and maintain agreed compliance monitoring and reporting systems, all of which is costly to us. In April 2014, the independent monitor was retained and the compliance assessment period began. These agreements also require us to retain an independent third party to retroactively audit our compliance with U.S. export control laws during the years 2012, 2013 and 2014. This audit is on-going. The SEC and DOJ are also investigating the circumstances surrounding the material weakness in our internal controls over financial reporting for income taxes that was disclosed in a notification of late filing on Form 12b-25 filed on March 1, 2011 and in current reports on Form 8-K filed on February 21, 2012 and on July 24, 2012 and the subsequent restatements of our historical financial statements. We are cooperating fully with these investigations. We are unable to predict the outcome of these matters due to the inherent uncertainties presented by such investigations, and we are unable to predict potential outcomes or estimate the range of potential loss contingencies, if any. The government, generally, has a broad range of civil and criminal penalties available for these types of matters under applicable law and regulation, including injunctive relief, fines, penalties and modifications to business practices, some of which, if imposed on us, could be material to our business, financial condition or results of operations. In the third quarter of 2014, we settled a compensation dispute with a former Senior Vice President and General Counsel who left the Company in 2009 and recognized an immaterial additional accrual to the amount previously accrued in 2013. Additionally, we are aware of various disputes and potential claims and are a party in various litigation involving claims against us, some of which are covered by insurance. For claims, disputes and pending litigation in which we believe a negative outcome is probable and a loss can be reasonably estimated, we have recorded a liability for the expected loss. These liabilities are immaterial to our financial condition and results of operations. In addition we have certain claims, disputes and pending litigation regarding 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, an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, that would result in 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 matters, the aggregate impact to our financial condition could be material.

Commitments

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments

We are committed under various operating lease agreements primarily related to office space and equipment. Generally, these leases include renewal provisions and rental payments, which may be adjusted for taxes, insurance and maintenance related to the property. Future minimum rental commitments under noncancellable operating leases are as follows (dollars in millions):



2015	$	269
2016	275
2017	154
2018	121
2019	76
Thereafter	233
	$	1,128

Total rent expense incurred under operating leases was approximately $536 million, $581 million and $458 million for the years ended December 31, 2014, 2013 and 2012, respectively. The future rental commitment table above does not include leases that are short-term in nature or can be cancelled with notice of less than three months.

Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Reporting Segments

Our operational performance is reviewed and managed on a geographic basis. We report the following regions, which are our operating segments, as separate, distinct reporting segments: North America; MENA/Asia Pacific; Europe/SSA/Russia; and Latin America. Financial information by segment is summarized below. Revenues are attributable to countries based on the ultimate destination of the sale of products or performance of services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.



	Year Ended December 31, 2014
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization		Capital Expenditures
North America	$	6,852	$	996		$	431	$	454
MENA/Asia Pacific	3,095		85			401		319
Europe/SSA/Russia	2,584		386			259		303
Latin America	2,380		256			257		312
	14,911		1,723			1,348		1,388
Corporate and Research and Development			(468		)	23		62
Long-lived Assets Impairment			(495		)
Goodwill Impairment			(161		)
Restructuring Charges ^(a)			(331		)
Gain on Sale of Businesses and Investments, Net			349
Other Items ^(b)			(112		)
Total	$	14,911	$	505		$	1,371	$	1,450

(a)

We recognized 2014 Plan restructuring charges of $273 million: $42 million in North America, $133 million in MENA/Asia Pacific, $31 million in Europe/SSA/Russia, $37 million in Latin America and $30 million in Corporate and Research and Development. We also recognized $58 million restructuring charges for our 2015 Plan: $32 million in North America, $8 million in MENA/Asia Pacific, $5 million in Europe/SSA/Russia, $12 million in Latin America and $1 million in Corporate and Research and Development.


(b)	Includes professional fees of $107 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations, and our 2014 redomestication from Switzerland to Ireland and other charges of $5 million.



	Year Ended December 31, 2013
(Dollars in millions)	Net Operating Revenues		Income from Operations ^(c)			Depreciation and Amortization		Capital Expenditures
North America	$	6,390	$	820		$	424	$	434
MENA/Asia Pacific	3,344		(96		)	396		526
Europe/SSA/Russia	2,693		288			286		305
Latin America ^(d)	2,836		306			276		247
	15,263		1,318			1,382		1,512
Corporate and Research and Development			(466		)	20		63
U.S. Government Investigation Loss			(153		)
Gain on Sale of Businesses and Investments, Net			24
Other Items ^(e)			(200		)
Total	$	15,263	$	523		$	1,402	$	1,575

(c)

We recognized a charge for bad debt expense of $98 million attributable to our reporting segments as follows: $59 million in Latin America, $27 million in MENA/Asia Pacific, $10 million for Europe/SSA/Russia, and $2 million in North America. See footnote (d) below for additional details for the bad debt expense charge in Latin America of $59 million. During 2013, we recognized a charge for excess and obsolete inventory of $62 million attributable to each reporting segment as follows: $35 million in North America, $7 million in MENA/Asia Pacific, $13 million in Europe/SSA/Russia and $7 million in Latin America.


(d)	On December 17, 2013, we accepted bonds with a face value of $127 million from PDVSA in full settlement of $127 million in trade receivables. Upon receipt, we immediately sold these bonds in a series of transactions recognizing a loss of $58 million.


(e)	Includes $67 million of professional fees and expenses for U.S. government investigations and the remediation of our material weakness related to income taxes, $94 million of severance and $39 million of other items.



	Year Ended December 31, 2012
(Dollars in millions)	Net Operating Revenues		Income from Operations ^(f)			Depreciation and Amortization		Capital Expenditures
North America	$	6,824	$	1,078		$	412	$	744
MENA/Asia Pacific	2,795		34			352		657
Europe/SSA/Russia	2,519		315			255		341
Latin America	3,077		395			238		384
	15,215		1,822			1,257		2,126
Corporate and Research and Development			(453		)	25		51
Goodwill and Equity Investment Impairment			(793		)
U.S. Government Investigation Loss			(100		)
Gain on Sale of Businesses and Investments, Net			28
Other Items ^(g)			(206		)
Total	$	15,215	$	298		$	1,282	$	2,177

(f)

We recognized a charge for excess and obsolete inventory of $53 million attributable to each reporting segment as follows: $21 million in North America, $16 million in MENA/Asia Pacific, $11 million in Europe/SSA/Russia and $5 million in Latin America. We also recognized a charge of $30 million to adjust the carrying value of our guar inventory, a component of certain drilling fluids, to the lower of cost or market, all of which was attributable to the North America reporting segment.


(g)	Includes income tax restatement and material weakness remediation expenses of $103 million, $13 million of costs incurred in connection with U.S. government investigations, $11 million of non-recurring fees and expenses associated with our 2012 debt consent solicitation and severance, exit and other charges of $79 million.

The following table presents total assets by segment at December 31:



	Total Assets at December 31,
(Dollars in millions)	2014		2013
North America	$	7,297	$	7,720
MENA/Asia Pacific	4,736		5,328
Europe/SSA/Russia	3,203		4,346
Latin America	3,307		4,247
Corporate and Research and Development	346		336
Total	$	18,889	$	21,977

Total assets in the United States, which is part of our North America segment, were $6.1 billion and $6.2 billion as of December 31, 2014 and 2013, respectively. The remaining North America total assets balance of $1.2 billion and $1.5 billion, respectively as of December 31, 2014 and 2013, is related to our operations in Canada.

Products and Services

We are one of the world’s leading providers of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The composition of our consolidated revenues by product service line group is as follows:



	Year Ended December 31,
	2014		2013		2012
Formation Evaluation and Well Construction	58	%	61	%	56	%
Completion and Production	42		39		44
Total	100	%	100	%	100	%

Geographic Areas

Financial information by geographic area is summarized below. Revenues from customers and long-lived assets in Switzerland were insignificant in each of the years presented. Long-lived assets exclude goodwill and intangible assets as well as deferred tax assets of $129 million and $33 million at December 31, 2014 and 2013, respectively.



	Revenues						Long-lived Assets
(Dollars in millions)	2014		2013		2012		2014		2013
United States	$	5,567	$	5,146	$	5,465	$	2,114	$	2,212
Canada	1,285		1,244		1,359		264		431
Mexico	479		959		1,274		170		226
Other Countries	7,580		7,914		7,117		4,817		5,285
	$	14,911	$	15,263	$	15,215	$	7,365	$	8,154

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2014, replacing the previous SICAD II mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. At December 31, 2014 our net monetary asset position denominated in Venezuelan bolivar was $36 million. We believe that significant uncertainty exists regarding the exchange mechanisms in Venezuela, including how any such mechanisms will operate in the future and the availability of U.S. dollars under each mechanism including SIMADI. Consequently, we are not able to estimate the financial effect of using the SIMADI. We anticipate recognizing further remeasurement charges in the first quarter of 2015 and will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate.

Consolidating Financial Statements

12 Months Ended

Dec. 31, 2014

Consolidating Financial Statements

Weatherford Ireland, a public limited company organized under the laws of Ireland and the ultimate parent of the Weatherford group, guarantees the obligations of our subsidiaries – Weatherford Bermuda, a Bermuda exempted company, and Weatherford Delaware, a Delaware limited liability company, including the notes and credit facilities listed below.

The following obligations of Weatherford Delaware were guaranteed by Weatherford Bermuda at December 31, 2014, 2013 and 2012: (1) 6.35% senior notes and (2) 6.80% senior notes.

The following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at December 31, 2014, 2013 and 2012: (1) revolving credit facility, (2) 5.50% senior notes, (3) 6.50% senior notes, (4) 6.00% senior notes, (5) 7.00% senior notes, (6) 9.625% senior notes, (7) 9.875% senior notes, (8) 5.125% senior notes, (9) 6.75% senior notes, (10) 4.50% senior notes and (11) 5.95% senior notes. In addition to these obligations, the following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at December 31, 2012: (1) the 4.95% senior notes and (2) 5.15% senior notes. Our 364-day term loan facility was an obligation of Weatherford Bermuda guaranteed by Weatherford Delaware as of December 31, 2013. In 2014, we refinanced the 364-day term loan facility with a new 364-day term loan facility, which was an obligation of Weatherford Bermuda, and is also guaranteed by Weatherford Delaware as of December 31, 2014.

As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The accompanying guarantor financial information is presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for our share in the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries relate primarily to the elimination of investments in subsidiaries and associated intercompany balances and transactions.

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Year Ended December 31, 2014



(Dollars in Millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations		Consolidation
Revenues	$	—		$	—		$	—		$	14,911		$	—	$	14,911
Costs and Expenses	(59		)	(18		)	3			(14,332		)	—		(14,406		)
Operating Income (Loss)	(59		)	(18		)	3			579			—		505

Other Income (Expense):
Interest Expense, Net	—			(422		)	(57		)	(19		)	—		(498		)
Intercompany Charges, Net	(99		)	7,291			(266		)	(8,802		)	1,876		—
Equity in Subsidiary Income	(424		)	(430		)	407			(2		)	449		—
Other, Net	—			20			(3		)	(279		)	—		(262		)
Income (Loss) Before Income Taxes	(582		)	6,441			84			(8,523		)	2,325		(255		)
(Provision) Benefit for Income Taxes	(2		)	—			131			(413		)	—		(284		)
Net Income (Loss)	(584		)	6,441			215			(8,936		)	2,325		(539		)
Noncontrolling Interests	—			—			—			(45		)	—		(45		)
Net Income (Loss) Attributable to Weatherford	$	(584	)	$	6,441		$	215		$	(8,981	)	$	2,325	$	(584	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(1,278	)	$	5,811		$	(128	)	$	(9,674	)	$	3,991	$	(1,278	)

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Year Ended December 31, 2013



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	—		$	—		$	15,263		$	—		$	15,263
Costs and Expenses	(50		)	(139		)	(3		)	(14,548		)	—			(14,740		)
Operating Income (Loss)	(50		)	(139		)	(3		)	715			—			523

Other Income (Expense):
Interest Expense, Net	—			(430		)	(61		)	(25		)	—			(516		)
Intercompany Charges, Net	(53		)	49			(337		)	341			—			—
Equity in Subsidiary Income	(242		)	30			461			—			(249		)	—
Other, Net	—			(31		)	(2		)	(144		)	—			(177		)
Income (Loss) Before Income Taxes	(345		)	(521		)	58			887			(249		)	(170		)
(Provision) Benefit for Income Taxes	—			—			145			(289		)	—			(144		)
Net Income (Loss)	(345		)	(521		)	203			598			(249		)	(314		)
Noncontrolling Interests	—			—			—			(31		)	—			(31		)
Net Income (Loss) Attributable to Weatherford	$	(345	)	$	(521	)	$	203		$	567		$	(249	)	$	(345	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(695	)	$	(788	)	$	39		$	214		$	535		$	(695	)

Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

Year Ended December 31, 2012



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations		Consolidation
Revenues	$	—		$	—		$	—		$	15,215		$	—	$	15,215
Costs and Expenses	(59		)	(114		)	(5		)	(14,739		)	—		(14,917		)
Operating Income (Loss)	(59		)	(114		)	(5		)	476			—		298

Other Income (Expense):
Interest Expense, Net	—			(401		)	(69		)	(16		)	—		(486		)
Intercompany Charges, Net	(28		)	53			(233		)	208			—		—
Equity in Subsidiary Income	(689		)	(701		)	(94		)	—			1,484		—
Other, Net	(2		)	(34		)	—			(64		)	—		(100		)
Income (Loss) Before Income Taxes	(778		)	(1,197		)	(401		)	604			1,484		(288		)
(Provision) Benefit for Income Taxes	—			—			107			(569		)	—		(462		)
Net Income (Loss)	(778		)	(1,197		)	(294		)	35			1,484		(750		)
Noncontrolling Interests	—			—			—			(28		)	—		(28		)
Net Income (Loss) Attributable to Weatherford	$	(778	)	$	(1,197	)	$	(294	)	$	7		$	1,484	$	(778	)
Comprehensive Income (Loss) Attributable to Weatherford	$	(695	)	$	(1,197	)	$	(294	)	90			1,401		(695		)

Condensed Consolidating Balance Sheet

December 31, 2014



(Dollars in Millions)	Weatherford Ireland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	1	$	—		$	22	$	451	$	—		$	474
Other Current Assets	4		12			544		7,524		(614		)	7,470
Total Current Assets	5		12			566		7,975		(614		)	7,944

Equity Investments in Affiliates	8,662		10,490			9,730		3,974		(32,856		)	—
Intercompany Receivables, Net	—		—			—		10,490		(10,490		)	—
Other Assets	5		35			16		10,889		—			10,945
Total Assets	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	618		$	6	$	103	$	—		$	727
Accounts Payable and Other Current Liabilities	43		256			—		3,615		(614		)	3,300
Total Current Liabilities	43		874			6		3,718		(614		)	4,027

Long-term Debt	—		5,749			911		137		1			6,798
Intercompany Payables, Net	1,666		6,202			2,622		—		(10,490		)	—
Other Long-term Liabilities	5		82			5		939		—			1,031
Total Liabilities	1,714		12,907			3,544		4,794		(11,103		)	11,856

Weatherford Shareholders’ Equity	6,958		(2,370		)	6,768		28,459		(32,857		)	6,958
Noncontrolling Interests	—		—			—		75		—			75
Total Liabilities and Shareholders’ Equity	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Condensed Consolidating Balance Sheet

December 31, 2013



(Dollars in Millions)	Weatherford Switzerland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	—	$	—		$	—	$	435	$	—		$	435
Other Current Assets	57		5			415		9,430		(408		)	9,499
Total Current Assets	57		5			415		9,865		(408		)	9,934

Equity Investments in Affiliates	8,663		11,742			8,065		6,466		(34,936		)	—
Equity Held in Parent	—		—			10		27		(37		)	—
Intercompany Receivables, Net	—		—			—		7,304		(7,304		)	—
Other Assets	7		41			17		11,978		—			12,043
Total Assets	$	8,727	$	11,788		$	8,507	$	35,640	$	(42,685	)	$	21,977

Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	1,445		$	23	$	185	$	—		$	1,653
Accounts Payable and Other Current Liabilities	312		129			—		4,071		(408		)	4,104
Total Current Liabilities	312		1,574			23		4,256		(408		)	5,757

Long-term Debt	—		5,891			986		184		—			7,061
Intercompany Payables, Net	243		6,755			306		—		(7,304		)	—
Other Long-term Liabilities	10		97			2		847		—			956
Total Liabilities	565		14,317			1,317		5,287		(7,712		)	13,774

Weatherford Shareholders’ Equity	8,162		(2,529		)	7,190		30,312		(34,973		)	8,162
Noncontrolling Interests	—		—			—		41		—			41
Total Liabilities and Shareholders’ Equity	$	8,727	$	11,788		$	8,507	$	35,640	$	(42,685	)	$	21,977

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2014



(Dollars in Millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(584	)	$	6,441		$	215		$	(8,936	)	$	2,325		$	(539	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	99			(7,291		)	266			8,802			(1,876		)	—
Equity in (Earnings) Loss of Affiliates	424			430			(407		)	2			(449		)	—
Deferred Income Tax Provision (Benefit)	—			—			(25		)	(41		)	—			(66		)
Other Adjustments	23			(180		)	(42		)	1,767			—			1,568
Net Cash Provided (Used) by Operating Activities	(38		)	(600		)	7			1,594			—			963
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(1,450		)	—			(1,450		)
Acquisitions of Businesses, Net of Cash Acquired	—			—			—			18			—			18
Acquisition of Intellectual Property	—			—			—			(5		)	—			(5		)
Purchase of Equity Investment in Unconsolidated Affiliates	—			—			—			(3		)	—			(3		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			1,770			—			1,770
Net Cash Provided (Used) by Investing Activities	—			—			—			330			—			330
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			(827		)	—			(97		)	—			(924		)
Borrowings (Repayments) Long-term Debt, Net	—			(153		)	(92		)	(14		)	—			(259		)
Borrowings (Repayments) Between Subsidiaries, Net	39			1,580			107			(1,726		)	—			—
Proceeds from Capital Contributions	—			—			—			22			—			22
Other, Net	—			—			—			(19		)	—			(19		)
Net Cash Provided (Used) by Financing Activities	39			600			15			(1,834		)	—			(1,180		)
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			(74		)	—			(74		)
Net Increase in Cash and Cash Equivalents	1			—			22			16			—			39
Cash and Cash Equivalents at Beginning of Year	—			—			—			435			—			435
Cash and Cash Equivalents at End of Year	$	1		$	—		$	22		$	451		$	—		$	474

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2013



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(345	)	$	(521	)	$	203		$	598		$	(249	)	$	(314	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	53			(49		)	337			(341		)	—			—
Equity in (Earnings) Loss of Affiliates	242			(30		)	(461		)	—			249			—
Deferred Income Tax Provision (Benefit)	—			—			28			(61		)	—			(33		)
Other Adjustments	(48		)	748			470			406			—			1,576
Net Cash Provided (Used) by Operating Activities	(98		)	148			577			602			—			1,229
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(1,575		)	—			(1,575		)
Acquisitions of Businesses, Net of Cash Acquired	—			—			—			(8		)	—			(8		)
Acquisition of Intellectual Property	—			—			—			(9		)	—			(9		)
Purchase of Equity Investment in Unconsolidated Affiliates	—			—			—			—			—			—
Proceeds from Sale of Assets and Businesses, Net	—			—			—			488			—			488
Capital Contribution to Subsidiary	—			(1,181		)	—			—			1,181			—
Net Cash Provided (Used) by Investing Activities	—			(1,181		)	—			(1,104		)	1,181			(1,104		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			550			(4		)	66			—			612
Borrowings (Repayments) Long-term Debt, Net	—			(544		)	(30		)	(26		)	—			(600		)
Borrowings (Repayments) Between Subsidiaries, Net	100			1,027			(565		)	(562		)	—			—
Proceeds from Capital Contributions	—			—			—			1,181			(1,181		)	—
Other, Net	(2		)	—			22			(26		)	—			(6		)
Net Cash Provided (Used) by Financing Activities	98			1,033			(577		)	633			(1,181		)	6
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			4			—			4
Net Increase in Cash and Cash Equivalents	—			—			—			135			—			135
Cash and Cash Equivalents at Beginning of Year	—			—			—			300			—			300
Cash and Cash Equivalents at End of Year	$	—		$	—		$	—		$	435		$	—		$	435

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2012



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(778	)	$	(1,197	)	$	(294	)	$	35		$	1,484		$	(750	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	28			(53		)	233			(208		)	—			—
Equity in (Earnings) Loss of Affiliates	689			701			94			—			(1,484		)	—
Deferred Income Tax (Provision) Benefit	—			—			10			(23		)	—			(13		)
Other Adjustments	50			35			472			1,427			—			1,984
Net Cash Provided (Used) by Operating Activities	(11		)	(514		)	515			1,231			—			1,221
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(2,177		)	—			(2,177		)
Acquisitions of Businesses, Net of Cash Acquired	(30		)	—			—			(135		)	—			(165		)
Acquisition of Intellectual Property	—			—			—			(17		)	—			(17		)
Acquisition of Equity Investments in Unconsolidated Affiliates	—			—			—			(8		)	—			(8		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			61			—			61
Capital Contribution to Subsidiary	(30		)	(85		)	(118		)	118			115			—
Net Cash Provided (Used) by Investing Activities	(60		)	(85		)	(118		)	(2,158		)	115			(2,306		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			(108		)	—			95			—			(13		)
Borrowings (Repayments) Long-term Debt, Net	—			1,295			(296		)	4			—			1,003
Borrowings (Repayments) Between Subsidiaries, Net	71			(588		)	(101		)	618			—			—
Proceeds from Capital Contribution	—			—			—			115			(115		)	—
Other, Net	—			—			—			22			—			22
Net Cash Provided (Used) by Financing Activities	71			599			(397		)	854			(115		)	1,012
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			—			2			—			2
Net Increase (Decrease) in Cash and Cash Equivalents	—			—			—			(71		)	—			(71		)
Cash and Cash Equivalents at Beginning of Period	—			—			—			371			—			371
Cash and Cash Equivalents at End of Period	$	—		$	—		$	—		$	300		$	—		$	300

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Summarized quarterly financial data for the years ended December 31, 2014 and 2013 are presented in the following tables. In the following tables, the sum of basic and diluted “Earnings (Loss) Per Share” for the four quarters may differ from the annual amounts due to the required method of computing weighted average number of shares in the respective periods. Additionally, due to the effect of rounding, the sum of the individual quarterly earnings per share amounts may not equal the calculated year earnings per share amount.



	2014 Quarters
(Dollars in millions, except per share amounts)	First				Second				Third			Fourth				Total
Revenues	$	3,596			$	3,711			$	3,877		$	3,727			$	14,911
Gross Profit	757				882				992			819				3,450
Net Income (Loss) Attributable to Weatherford ^(e)	(41		)	^(a)	(145		)	^(b)	77		^(c)	(475		)	^(d)	(584		)

Basic Earnings (Loss) Per Share	(0.05		)		(0.19		)		0.10			(0.61		)		(0.75		)
Diluted Earnings (Loss) Per Share	(0.05		)		(0.19		)		0.10			(0.61		)		(0.75		)


(a)	Includes restructuring charges of $70 million.


(b)	Includes restructuring charges of $59 million, and long-lived assets and goodwill impairment charges of $143 million and $125 million, respectively.


(c)	Includes restructuring charges of $154 million and a gain of $38 million primarily related to the sale of our pipeline and specialty services business and land drilling and workover rigs in Russia and Venezuela.

(d)

Includes a long-lived asset impairment charge of $352 million, a goodwill impairment charge of $40 million, a $245 million charge related to adopting the SICAD II exchange rate, a gain of $311 million primarily related to the sale of our engineered chemistry and Integrity drilling fluids businesses and the disposal of all of our shares in Proserv. This also includes restructuring charges of $58 million associated with our 2015 plan.


(e)	Includes estimated project losses of $26 million, $2 million, $10 million and $34 million for the first, second, third and fourth quarter of 2014, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.



	2013 Quarters
(Dollars in millions, except per share amounts)	First			Second				Third		Fourth				Total
Revenues	$	3,837		$	3,868			$	3,820	$	3,738			$	15,263
Gross Profit	831			742				784		604				2,961
Net Income (Loss) Attributable to Weatherford ⁽ⁱ⁾	22		^(f)	(118		)	^(g)	22		(271		)	^(h)	(345		)

Basic Earnings (Loss) Per Share	0.03			(0.15		)		0.03		(0.35		)		(0.45		)
Diluted Earnings (Loss) Per Share	0.03			(0.15		)		0.03		(0.35		)		(0.45		)


(f)	Effective February 13, 2013, the Venezuelan government devalued its currency and the official exchange rate moved from 4.30 per dollar to 6.30 per dollar for all goods and services. We recognized a charge of approximately $100 million for the remeasurement of our net monetary assets denominated in the Venezuelan bolivar at the date of the devaluation.


(g)	Includes a $153 million accrual related to the U.S. government investigations.


(h)	Includes our recognition of a $58 million loss upon settlement of $127 million in outstanding receivables due from PDVSA.


(i)	Includes estimated project gain of $7 million for the first quarter, estimated project loss of $6 million, $85 million and $148 million for the second, third and fourth quarter of 2013, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.

Schedule II - Valuation and Qualifying Accounts and Allowances

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Allowances

SCHEDULE II

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS AND ALLOWANCES

FOR THE THREE YEARS ENDED DECEMBER 31, 2014



	Balance at				(Recovery)						Balance at
	Beginning				and			Other			End of
(Dollars in millions)	of Period		Expense ^(a)		Additions			Reductions^(b)			Period
Year Ended December 31, 2014:
Allowance for uncollectible accounts receivable	$	106	$	32	$	(4	)	$	(26	)	$	108
Valuation allowance on deferred tax assets	554		222		—			(44		)	732

Year Ended December 31, 2013:
Allowance for uncollectible accounts receivable	84		102		(12		)	(68		)	106
Valuation allowance on deferred tax assets	317		264		—			(27		)	554

Year Ended December 31, 2012:
Allowance for uncollectible accounts receivable	91		22		(8		)	(21		)	84
Valuation allowance on deferred tax assets	201		108		8			—			317


(a)	For the $32 million in bad debt expense in 2014, $5 million is related to the restructuring charges.


(b)	Includes amounts reclassified to Assets Held for Sale.

All other schedules are omitted because they are not required or because the information is included in the financial statements or the related notes.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Organization and Nature of Operations

Principles of Consolidation

Use of Estimates

Reclassifications

Certain prior year amounts have been reclassified to conform to the 2014 presentation.

Disputes, Litigation and Contingencies

Cash and Cash Equivalents

We consider all highly liquid investments with original maturities of three months or less to be cash equivalents.

Allowance for Doubtful Accounts

Major Customers and Credit Risk

Inventories

Property, Plant and Equipment

The estimated useful lives of our major classes of property, plant and equipment are as follows:



Major Classes of Property, Plant and Equipment	Estimated Useful Lives
Buildings and leasehold improvements	10 – 40 years or lease term
Rental and service equipment	2 – 20 years
Machinery and other	2 – 12 years

Goodwill and Indefinite Lived Intangibles Assets

Goodwill and Indefinite-Lived Intangible Assets

Intangible Assets

Long-Lived Assets

Research and Development Expenditures

Research and development expenditures are expensed as incurred.

Environmental Expenditures

Derivatives Financial Instruments

Derivative Financial Instruments

Foreign Currency

Share-Based Compensation

Income Taxes

Revenue Recognition

Percentage- of- Completion

Percentage-of-Completion

•estimates of the available revenue under the contracts;

•estimates of the total cost to complete the project;

•estimates of project schedule and completion date;

•estimates of the extent of progress toward completion; and

•amount of any change orders or claims included in revenue.

Earnings per Share

New Accounting Pronouncements

Business Combinations and Divestitures (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Schedule of Information Segregated from Financial Statements



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Income Before Income Taxes	$	57	$	58	$	57

Schedule of Assets and Liabilities Held-for-Sale

The carrying amounts of the major classes of assets and liabilities of our engineered chemistry and Integrity drilling fluids businesses divested are as follows:



	December 31,
(Dollars in millions)	2014		2013
Assets:
Accounts Receivable, Net	$	48	$	48
Inventory, Net	99		103
Property, Plant and Equipment, Net	55		52
Goodwill	270		270
Other Intangible Assets, Net	43		49
Other Assets	1		5
Total Assets	$	516	$	527

Liabilities:
Accounts Payable	$	32	$	37
Deferred Tax Liabilities	10		19
Other Liabilities	2		23
Total Liabilities	$	44	$	79



(Dollars in millions)	December 31, 2013
Accounts Receivables, net	$	244
Inventories, net	170
Other Current Assets	30
Property, Plant, and Equipment, Net	678
Goodwill	419
Other Intangible Assets, Net	59
Other Assets	4
Total Current Assets Held for Sale	$	1,604

Accounts Payable	$	173
Accrued Expenses and Other Liabilities	145
Total Current Liabilities Held for Sale	$	318

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

Schedule of Property, Plant and Equipment and Estimated Useful Lives

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

The estimated useful lives of our major classes of property, plant and equipment are as follows:



Major Classes of Property, Plant and Equipment	Estimated Useful Lives
Buildings and leasehold improvements	10 – 40 years or lease term
Rental and service equipment	2 – 20 years
Machinery and other	2 – 12 years

Reconciliation Of Weighted Average Shares Outstanding

The following discloses basic and diluted weighted average shares outstanding:



	Year Ended December 31,
(Shares in millions)	2014	2013	2012
Basic and Diluted weighted average shares outstanding	777	772	765

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Year Ended December 31,
(Shares in millions)	2014	2013	2012
Anti-dilutive potential shares	5	5	4

Restructuring Charges (Tables)

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges



	Year Ended December 31, 2014
(Dollars in millions)	North America		MENA/Asia Pacific		Europe/SSA/Russia		Latin America		Corporate and Research and Development		Total
2015 Plan:
Severance charges	$	32	$	8	$	5	$	12	$	1	$	58
2014 Plan:
Severance charges	15		23		18		30		28		114
Restructuring related asset charges	24		105		4		—		2		135
Other restructuring charges	3		5		9		7		—		24
	$	74	$	141	$	36	$	49	$	31	$	331

Schedule of Restructuring Reserve by Type of Cost



	At December 31, 2014
(Dollars in millions)	North America		MENA/Asia Pacific		Europe/SSA/Russia		Latin America		Corporate and Research and Development		Total
2015 Plan:
Severance liability	$	32	$	6	$	5	$	9	$	1	$	53
2014 Plan:
Severance and other restructuring liability	1		8		6		—		11		26
	$	33	$	14	$	11	$	9	$	12	$	79

The following table presents the restructuring accrual activity for the year ended December 31, 2014.



			Twelve Months Ended December 31, 2014
(Dollars in millions)	Accrued Balance at December 31, 2013		Charges ^(a)		Cash Payments			Other			Accrued Balance at December 31, 2014
2015 Plan:
Severance liability	$	—	$	58	$	(5	)	$	—		$	53
2014 Plan:
Severance charges	—		114		(94		)	(6		)	14
Other restructuring charges	—		24		(12		)	—			12
Severance and other restructuring liability	—		138		(106		)	(6		)	26
	$	—	$	196	$	(111	)	$	(6	)	$	79


(a)	Includes reversal of $5 million severance charges and $2 million facility related charges for the 2014 Plan.

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2014

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

Cash paid for interest and income taxes was as follows:



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Interest paid, net of capitalized interest	$	511	$	525	$	478
Income taxes paid, net of refunds	386		442		443

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Components of Inventory

Inventories, net of reserves, by category were as follows:



	December 31,
(Dollars in millions)	2014		2013
Raw materials, components and supplies	$	194	$	386
Work in process	135		130
Finished goods	2,758		2,684
	$	3,087	$	3,200

Goodwill (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reportable segment for the two years ended December 31, 2014 and 2013, were as follows:



(Dollars in millions)	North America			MENA/ Asia Pacific			Europe/ SSA/ Russia			Latin America			Total
Balance at December 31, 2012	$	2,336		$	226		$	955		$	354		$	3,871
Acquisitions	—			—			2			—			2
Disposals	(23		)	(4		)	(13		)	(1		)	(41		)
Purchase price and other adjustments	1			—			(3		)	2			—
Foreign currency translation	(71		)	(13		)	(29		)	(10		)	(123		)
Reclassification to current assets held for sale	(262		)	(2		)	(143		)	(12		)	(419		)
Balance at December 31, 2013	$	1,981		$	207		$	769		$	333		$	3,290

Impairment	$	—		$	(12	)	$	(39	)	$	(15	)	$	(66	)
Acquisitions	—			6			—			—			6
Purchase price and other adjustments	1			—			8			(14		)	(5		)
Foreign currency translation adjustments	(86		)	(6		)	(115		)	(7		)	(214		)
Balance at December 31, 2014	$	1,896		$	195		$	623		$	297		$	3,011

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The components of intangible assets were as follows:



	December 31, 2014										December 31, 2013
													Assets
	Gross								Net		Gross		Classified						Net
	Carrying		Accumulated						Intangible		Carrying		as Held for			Accumulated			Intangible
(Dollars in millions)	Amount		Amortization			Impairment			Assets		Amount		Sale			Amortization			Assets
Acquired technology	$	420	$	(287	)	$	—		$	133	$	417	(4		)	$	(238	)	$	175
Licenses	242		(169		)	—			73		261		(1		)	(161		)	99
Patents	232		(117		)	—			115		271		(4		)	(129		)	138
Customer relationships and contracts	205		(122		)	(5		)	78		329		(46		)	(163		)	120
Other	85		(38		)	(6		)	41		91		(5		)	(52		)	34
	$	1,184	$	(733	)	$	(11	)	$	440	$	1,369	$	(60	)	$	(743	)	$	566

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future estimated amortization expense for the carrying amount of intangible assets as of December 31, 2014 is expected to be as follows (dollars in millions):



Period	Amount
2015	$	71
2016	58
2017	58
2018	54
2019	46

Equity Investments (Tables)

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

Our equity investments in unconsolidated affiliates were as follows:



	December 31,
(Dollars in millions)	2014		2013
Proserv Group Inc.	$	—	$	168
Other equity investments	106		128
Total equity method investments	$	106	$	296

Short-term Borrowings and Current Portion of Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Components of short-term borrowings

Our short-term borrowings and current portion of long-term debt consists of the followings:



	December 31,
(Dollars in millions)	2014			2013
Commercial paper program	$	245		$	292
Revolving credit facility	—			772
364-day term loan facility	175			300
Other short-term bank loans	257			216
Total short-term borrowings	677			1,580
Current portion of long-term debt	50			73
Short-term borrowings and current portion of long-term debt	$	727		$	1,653
Weighted average interest rate on short-term borrowings outstanding at end of year	1.4		%	1.7		%

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of long-term debt



	December 31,
(Dollars in millions)	2014		2013
5.50% Senior Notes due 2016	$	352	$	353
6.35% Senior Notes due 2017	607		610
6.00% Senior Notes due 2018	498		498
9.625% Senior Notes due 2019	1,018		1,021
5.125% Senior Notes due 2020	798		798
4.50% Senior Notes due 2022	715		747
6.50% Senior Notes due 2036	556		595
6.80% Senior Notes due 2037	298		298
7.00% Senior Notes due 2038	497		497
9.875% Senior Notes due 2039	247		247
6.75% Senior Notes due 2040	596		596
5.95% Senior Notes due 2042	478		545
4.82% secured borrowing	12		102
Capital and other lease obligations	136		153
Other	40		74
Total Notes Balance	6,848		7,134
Less amounts due in one year	50		73
Long-term debt	$	6,798	$	7,061

Schedule of maturities of long-term debt

The following is a summary of scheduled Long-term Debt maturities by year (dollars in millions):



2015	$	50
2016	395
2017	628
2018	512
2019	45
Thereafter	5,218
	$	6,848

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 02
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Fair value and carrying value of Long-term Debt

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

The fair value and carrying value of our senior notes were as follows:



	December 31,
(Dollars in millions)	2014		2013
Fair value	$	6,733	$	7,580
Carrying value	6,660		6,805

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Outstanding Derivative Instruments



	December 31,
(Dollars in millions)	2014			2013			Classifications
Derivative assets not designated as hedges:
Foreign currency forward contracts	$	12		$	5		Other Current Assets

Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(17		)	(6		)	Other Current Liabilities
Cross-currency swap contracts	(5		)	(21		)	Other Liabilities

The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Consolidated Statements of Operations is in the table below.



Gain (Loss) Recognized in Statement of Operations	Twelve Months Ended December 31,
(Dollars In millions)	2014			2013			Classification
Derivatives designated as fair value hedges:
Interest rate swaps	$	9		$	10		Interest Expense, Net

Derivative liabilities not designated as hedges:
Foreign currency forward contracts	(22		)	(12		)	Other, Net
Cross-currency swap contracts	16			13			Other, Net

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Changes in Issued and Treasury shares

Changes in our Issued and Treasury shares during the years ended December 31, 2014, 2013 and 2012, were as follows:



(Shares in millions)	Issued		Treasury
Balance at December 31, 2011	765		(16	)
Shares issued for acquisitions	—		3
Equity awards granted, vested and exercised	—		4
Shares issued for warrants	5		—
Shares issued for internal restructuring	70		(70	)
Balance at December 31, 2012	840		(79	)
Equity awards granted, vested and exercised	—		6
Balance at December 31, 2013	840		(73	)
Change in Shares Associated with Redomestication	(840	)	71
Issuance of Weatherford Ireland Shares	774		—
Equity awards granted, vested and exercised	—		2
Balance at December 31, 2014	774		—

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in our accumulated other comprehensive loss by component for the year ended December 31, 2014 and 2013:



(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at January 1, 2013	$	213		$	(40	)	$	(10	)	$	163
Other comprehensive income before reclassifications	(316		)	—			—			(316		)
Reclassifications	(37		)	2			1			(34		)
Net activity	(353		)	2			1			(350		)
Balance at December 31, 2013	(140		)	(38		)	(9		)	(187		)
Other comprehensive income before reclassifications	(763		)	(21		)	—			(784		)
Reclassifications	90			2			—			92
Other	—			—			(2		)	(2		)
Net activity	(673		)	(19		)	(2		)	(694		)
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

We recognized the following share-based compensation expense during each of the years ended December 31, 2014, 2013 and 2012:



	Year Ended December 31,
(Dollars in millions)	2014		2013		2012
Share-based compensation	$	56	$	66	$	76
Related tax benefit	12		11		27

Schedule of Deferred Compensation Arrangement with Individual, Share-based Payments

A summary of option activity for the year ended December 31, 2014, is presented below:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Term	Aggregate Intrinsic Value
	(In thousands)					(In thousands)
Outstanding at December 31, 2013	7,956		$	9.31	2.01 years	$	54,775
Exercised	(1,313	)	8.24
Outstanding and Vested at December 31, 2014	6,643		9.52		1.18 years	23,500

Exercisable at December 31, 2014	5,368		7.07		1.03 years	23,500

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of RSA and RSU activity for the year ended December 31, 2014 is presented below:



	RSA		Weighted Average Grant Date Fair Value		RSU		Weighted Average Grant Date Fair Value
	(In thousands)				(In thousands)
Non-Vested at December 31, 2013	3,211		$	14.80	3,137		$	14.26
Granted	425		17.72		2,997		19.16
Vested	(1,171	)	14.87		(1,633	)	15.29
Forfeited	(211	)	14.97		(201	)	15.93
Non-Vested at December 31, 2014	2,254		15.31		4,300		17.21

Schedule of Nonvested Performance-based Units Activity

A summary of performance unit activity for the year ended December 31, 2014, is presented below:



	Performance Units		Weighted Average Grant Date Fair Value
	(In thousands)
Non-vested at December 31, 2013	1,911		$	16.05
Granted	801		14.31
Vested	(282	)	12.49
Forfeited	(482	)	28.61
Non-vested at December 31, 2014	1,948		12.74

Retirement and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of weighted average assumption rates

The weighted average assumption rates used for benefit obligations were as follows:



	Year Ended December 31,
	2014	2013
Discount rate:
United States plans	1.00% - 4.00%	1.00% - 4.75%
International plans	1.65% - 7.00%	3.50% - 7.00%
Rate of compensation increase:
United States plans	—	—
International plans	2.00% - 3.30%	3.00% - 4.50%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Our income tax (provision) benefit from continuing operations consisted of the following:



	Year Ended December 31,
(Dollars in millions)	2014			2013			2012
Total current provision	$	(350	)	$	(177	)	$	(475	)
Total deferred benefit	66			33			13
Provision for Income Taxes	$	(284	)	$	(144	)	$	(462	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]



	Year Ended December 31,
(Dollars in millions)	2014			2013			2012
Swiss federal income tax rate at 7.83%	$	20		$	13		$	23
Tax on operating earnings subject to rates different than the Swiss federal income tax rate	(70		)	89			(341		)
Tax on divestitures gains subject to different tax rate	(109		)	—			—
Change in valuation allowance	(222		)	(264		)	(108		)
Change in uncertain tax positions	97			18			(36		)
Provision for Income Taxes	$	(284	)	$	(144	)	$	(462	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of the net deferred tax asset (liability) attributable to continuing operations were as follows:



	December 31,
(Dollars stated in millions)	2014			2013
Net operating losses carryforwards	$	600		$	614
Accrued liabilities and reserves	235			224
Tax credit carryforwards	103			115
Employee benefits	70			54
Inventory	70			51
Other differences between financial and tax basis	108			79
Valuation allowance	(732		)	(554		)
Total deferred tax assets	454			583
Deferred tax liabilities:
Property, plant and equipment	(324		)	(415		)
Intangible assets	(206		)	(221		)
Deferred Income	(22		)	(6		)
Other differences between financial and tax basis	(21		)	(22		)
Total deferred tax liabilities	(573		)	(664		)
Net deferred tax liability	$	(119	)	$	(81	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A tabular reconciliation of the total amounts of uncertain tax positions at the beginning and end of the period is as follows:



	Year Ended December 31,
(Dollars stated in millions)	2014			2013			2012
Balance at beginning of year	$	289		$	296		$	292
Additions as a result of tax positions taken during a prior period	23			64			8
Reductions as a result of tax positions taken during a prior period	(35		)	(12		)	(1		)
Additions as a result of tax positions taken during the current period	2			31			29
Reductions relating to settlements with taxing authorities	(24		)	(60		)	(14		)
Reductions as a result of a lapse of the applicable statute of limitations	(9		)	(19		)	(19		)
Foreign exchange effects	(11		)	(11		)	1
Balance at end of year	$	235		$	289		$	296

Summary of Income Tax Contingencies [Table Text Block]



Canada	2007 - 2014
Mexico	2007 - 2014
Russia	2012 - 2014
Switzerland	2009 - 2013
United States	2007 - 2014
Venezuela	2009 - 2014

Commitments (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Operating Leases of Lessee Disclosure

Future minimum rental commitments under noncancellable operating leases are as follows (dollars in millions):



2015	$	269
2016	275
2017	154
2018	121
2019	76
Thereafter	233
	$	1,128

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

Financial information by segment

Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Reporting Segments



	Year Ended December 31, 2014
(Dollars in millions)	Net Operating Revenues		Income from Operations			Depreciation and Amortization		Capital Expenditures
North America	$	6,852	$	996		$	431	$	454
MENA/Asia Pacific	3,095		85			401		319
Europe/SSA/Russia	2,584		386			259		303
Latin America	2,380		256			257		312
	14,911		1,723			1,348		1,388
Corporate and Research and Development			(468		)	23		62
Long-lived Assets Impairment			(495		)
Goodwill Impairment			(161		)
Restructuring Charges ^(a)			(331		)
Gain on Sale of Businesses and Investments, Net			349
Other Items ^(b)			(112		)
Total	$	14,911	$	505		$	1,371	$	1,450

(a)


(b)	Includes professional fees of $107 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations, and our 2014 redomestication from Switzerland to Ireland and other charges of $5 million.



	Year Ended December 31, 2013
(Dollars in millions)	Net Operating Revenues		Income from Operations ^(c)			Depreciation and Amortization		Capital Expenditures
North America	$	6,390	$	820		$	424	$	434
MENA/Asia Pacific	3,344		(96		)	396		526
Europe/SSA/Russia	2,693		288			286		305
Latin America ^(d)	2,836		306			276		247
	15,263		1,318			1,382		1,512
Corporate and Research and Development			(466		)	20		63
U.S. Government Investigation Loss			(153		)
Gain on Sale of Businesses and Investments, Net			24
Other Items ^(e)			(200		)
Total	$	15,263	$	523		$	1,402	$	1,575

(c)


(d)	On December 17, 2013, we accepted bonds with a face value of $127 million from PDVSA in full settlement of $127 million in trade receivables. Upon receipt, we immediately sold these bonds in a series of transactions recognizing a loss of $58 million.


(e)	Includes $67 million of professional fees and expenses for U.S. government investigations and the remediation of our material weakness related to income taxes, $94 million of severance and $39 million of other items.



	Year Ended December 31, 2012
(Dollars in millions)	Net Operating Revenues		Income from Operations ^(f)			Depreciation and Amortization		Capital Expenditures
North America	$	6,824	$	1,078		$	412	$	744
MENA/Asia Pacific	2,795		34			352		657
Europe/SSA/Russia	2,519		315			255		341
Latin America	3,077		395			238		384
	15,215		1,822			1,257		2,126
Corporate and Research and Development			(453		)	25		51
Goodwill and Equity Investment Impairment			(793		)
U.S. Government Investigation Loss			(100		)
Gain on Sale of Businesses and Investments, Net			28
Other Items ^(g)			(206		)
Total	$	15,215	$	298		$	1,282	$	2,177

(f)


(g)	Includes income tax restatement and material weakness remediation expenses of $103 million, $13 million of costs incurred in connection with U.S. government investigations, $11 million of non-recurring fees and expenses associated with our 2012 debt consent solicitation and severance, exit and other charges of $79 million.

The following table presents total assets by segment at December 31:



	Total Assets at December 31,
(Dollars in millions)	2014		2013
North America	$	7,297	$	7,720
MENA/Asia Pacific	4,736		5,328
Europe/SSA/Russia	3,203		4,346
Latin America	3,307		4,247
Corporate and Research and Development	346		336
Total	$	18,889	$	21,977

Composition of consolidated revenues by product line

Products and Services



	Year Ended December 31,
	2014		2013		2012
Formation Evaluation and Well Construction	58	%	61	%	56	%
Completion and Production	42		39		44
Total	100	%	100	%	100	%

Financial information by geographic area

Geographic Areas



	Revenues						Long-lived Assets
(Dollars in millions)	2014		2013		2012		2014		2013
United States	$	5,567	$	5,146	$	5,465	$	2,114	$	2,212
Canada	1,285		1,244		1,359		264		431
Mexico	479		959		1,274		170		226
Other Countries	7,580		7,914		7,117		4,817		5,285
	$	14,911	$	15,263	$	15,215	$	7,365	$	8,154

Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

December 31, 2014



(Dollars in Millions)	Weatherford Ireland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	1	$	—		$	22	$	451	$	—		$	474
Other Current Assets	4		12			544		7,524		(614		)	7,470
Total Current Assets	5		12			566		7,975		(614		)	7,944

Equity Investments in Affiliates	8,662		10,490			9,730		3,974		(32,856		)	—
Intercompany Receivables, Net	—		—			—		10,490		(10,490		)	—
Other Assets	5		35			16		10,889		—			10,945
Total Assets	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	618		$	6	$	103	$	—		$	727
Accounts Payable and Other Current Liabilities	43		256			—		3,615		(614		)	3,300
Total Current Liabilities	43		874			6		3,718		(614		)	4,027

Long-term Debt	—		5,749			911		137		1			6,798
Intercompany Payables, Net	1,666		6,202			2,622		—		(10,490		)	—
Other Long-term Liabilities	5		82			5		939		—			1,031
Total Liabilities	1,714		12,907			3,544		4,794		(11,103		)	11,856

Weatherford Shareholders’ Equity	6,958		(2,370		)	6,768		28,459		(32,857		)	6,958
Noncontrolling Interests	—		—			—		75		—			75
Total Liabilities and Shareholders’ Equity	$	8,672	$	10,537		$	10,312	$	33,328	$	(43,960	)	$	18,889

Condensed Consolidating Balance Sheet

December 31, 2013



(Dollars in Millions)	Weatherford Switzerland		Weatherford Bermuda			Weatherford Delaware		Other Subsidiaries		Eliminations			Consolidation
Current Assets:
Cash and Cash Equivalents	$	—	$	—		$	—	$	435	$	—		$	435
Other Current Assets	57		5			415		9,430		(408		)	9,499
Total Current Assets	57		5			415		9,865		(408		)	9,934

Equity Investments in Affiliates	8,663		11,742			8,065		6,466		(34,936		)	—
Equity Held in Parent	—		—			10		27		(37		)	—
Intercompany Receivables, Net	—		—			—		7,304		(7,304		)	—
Other Assets	7		41			17		11,978		—			12,043
Total Assets	$	8,727	$	11,788		$	8,507	$	35,640	$	(42,685	)	$	21,977

Current Liabilities:
Short-term Borrowings and Current Portion of Long-Term Debt	$	—	$	1,445		$	23	$	185	$	—		$	1,653
Accounts Payable and Other Current Liabilities	312		129			—		4,071		(408		)	4,104
Total Current Liabilities	312		1,574			23		4,256		(408		)	5,757

Long-term Debt	—		5,891			986		184		—			7,061
Intercompany Payables, Net	243		6,755			306		—		(7,304		)	—
Other Long-term Liabilities	10		97			2		847		—			956
Total Liabilities	565		14,317			1,317		5,287		(7,712		)	13,774

Weatherford Shareholders’ Equity	8,162		(2,529		)	7,190		30,312		(34,973		)	8,162
Noncontrolling Interests	—		—			—		41		—			41
Total Liabilities and Shareholders’ Equity	$	8,727	$	11,788		$	8,507	$	35,640	$	(42,685	)	$	21,977

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2014



(Dollars in Millions)	Weatherford Ireland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(584	)	$	6,441		$	215		$	(8,936	)	$	2,325		$	(539	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	99			(7,291		)	266			8,802			(1,876		)	—
Equity in (Earnings) Loss of Affiliates	424			430			(407		)	2			(449		)	—
Deferred Income Tax Provision (Benefit)	—			—			(25		)	(41		)	—			(66		)
Other Adjustments	23			(180		)	(42		)	1,767			—			1,568
Net Cash Provided (Used) by Operating Activities	(38		)	(600		)	7			1,594			—			963
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(1,450		)	—			(1,450		)
Acquisitions of Businesses, Net of Cash Acquired	—			—			—			18			—			18
Acquisition of Intellectual Property	—			—			—			(5		)	—			(5		)
Purchase of Equity Investment in Unconsolidated Affiliates	—			—			—			(3		)	—			(3		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			1,770			—			1,770
Net Cash Provided (Used) by Investing Activities	—			—			—			330			—			330
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			(827		)	—			(97		)	—			(924		)
Borrowings (Repayments) Long-term Debt, Net	—			(153		)	(92		)	(14		)	—			(259		)
Borrowings (Repayments) Between Subsidiaries, Net	39			1,580			107			(1,726		)	—			—
Proceeds from Capital Contributions	—			—			—			22			—			22
Other, Net	—			—			—			(19		)	—			(19		)
Net Cash Provided (Used) by Financing Activities	39			600			15			(1,834		)	—			(1,180		)
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			(74		)	—			(74		)
Net Increase in Cash and Cash Equivalents	1			—			22			16			—			39
Cash and Cash Equivalents at Beginning of Year	—			—			—			435			—			435
Cash and Cash Equivalents at End of Year	$	1		$	—		$	22		$	451		$	—		$	474

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2013



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(345	)	$	(521	)	$	203		$	598		$	(249	)	$	(314	)
Adjustments to Reconcile Net Income(Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	53			(49		)	337			(341		)	—			—
Equity in (Earnings) Loss of Affiliates	242			(30		)	(461		)	—			249			—
Deferred Income Tax Provision (Benefit)	—			—			28			(61		)	—			(33		)
Other Adjustments	(48		)	748			470			406			—			1,576
Net Cash Provided (Used) by Operating Activities	(98		)	148			577			602			—			1,229
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(1,575		)	—			(1,575		)
Acquisitions of Businesses, Net of Cash Acquired	—			—			—			(8		)	—			(8		)
Acquisition of Intellectual Property	—			—			—			(9		)	—			(9		)
Purchase of Equity Investment in Unconsolidated Affiliates	—			—			—			—			—			—
Proceeds from Sale of Assets and Businesses, Net	—			—			—			488			—			488
Capital Contribution to Subsidiary	—			(1,181		)	—			—			1,181			—
Net Cash Provided (Used) by Investing Activities	—			(1,181		)	—			(1,104		)	1,181			(1,104		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			550			(4		)	66			—			612
Borrowings (Repayments) Long-term Debt, Net	—			(544		)	(30		)	(26		)	—			(600		)
Borrowings (Repayments) Between Subsidiaries, Net	100			1,027			(565		)	(562		)	—			—
Proceeds from Capital Contributions	—			—			—			1,181			(1,181		)	—
Other, Net	(2		)	—			22			(26		)	—			(6		)
Net Cash Provided (Used) by Financing Activities	98			1,033			(577		)	633			(1,181		)	6
Effect of Exchange Rate Changes On Cash and Cash Equivalents	—			—			—			4			—			4
Net Increase in Cash and Cash Equivalents	—			—			—			135			—			135
Cash and Cash Equivalents at Beginning of Year	—			—			—			300			—			300
Cash and Cash Equivalents at End of Year	$	—		$	—		$	—		$	435		$	—		$	435

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2012



(Dollars in Millions)	Weatherford Switzerland			Weatherford Bermuda			Weatherford Delaware			Other Subsidiaries			Eliminations			Consolidation
Cash Flows from Operating Activities:
Net Income (Loss)	$	(778	)	$	(1,197	)	$	(294	)	$	35		$	1,484		$	(750	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Charges from Parent or Subsidiary	28			(53		)	233			(208		)	—			—
Equity in (Earnings) Loss of Affiliates	689			701			94			—			(1,484		)	—
Deferred Income Tax (Provision) Benefit	—			—			10			(23		)	—			(13		)
Other Adjustments	50			35			472			1,427			—			1,984
Net Cash Provided (Used) by Operating Activities	(11		)	(514		)	515			1,231			—			1,221
Cash Flows from Investing Activities:
Capital Expenditures for Property, Plant and Equipment	—			—			—			(2,177		)	—			(2,177		)
Acquisitions of Businesses, Net of Cash Acquired	(30		)	—			—			(135		)	—			(165		)
Acquisition of Intellectual Property	—			—			—			(17		)	—			(17		)
Acquisition of Equity Investments in Unconsolidated Affiliates	—			—			—			(8		)	—			(8		)
Proceeds from Sale of Assets and Businesses, Net	—			—			—			61			—			61
Capital Contribution to Subsidiary	(30		)	(85		)	(118		)	118			115			—
Net Cash Provided (Used) by Investing Activities	(60		)	(85		)	(118		)	(2,158		)	115			(2,306		)
Cash Flows from Financing Activities:
Borrowings (Repayments) Short-term Debt, Net	—			(108		)	—			95			—			(13		)
Borrowings (Repayments) Long-term Debt, Net	—			1,295			(296		)	4			—			1,003
Borrowings (Repayments) Between Subsidiaries, Net	71			(588		)	(101		)	618			—			—
Proceeds from Capital Contribution	—			—			—			115			(115		)	—
Other, Net	—			—			—			22			—			22
Net Cash Provided (Used) by Financing Activities	71			599			(397		)	854			(115		)	1,012
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			—			2			—			2
Net Increase (Decrease) in Cash and Cash Equivalents	—			—			—			(71		)	—			(71		)
Cash and Cash Equivalents at Beginning of Period	—			—			—			371			—			371
Cash and Cash Equivalents at End of Period	$	—		$	—		$	—		$	300		$	—		$	300

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data



	2014 Quarters
(Dollars in millions, except per share amounts)	First				Second				Third			Fourth				Total
Revenues	$	3,596			$	3,711			$	3,877		$	3,727			$	14,911
Gross Profit	757				882				992			819				3,450
Net Income (Loss) Attributable to Weatherford ^(e)	(41		)	^(a)	(145		)	^(b)	77		^(c)	(475		)	^(d)	(584		)

Basic Earnings (Loss) Per Share	(0.05		)		(0.19		)		0.10			(0.61		)		(0.75		)
Diluted Earnings (Loss) Per Share	(0.05		)		(0.19		)		0.10			(0.61		)		(0.75		)


(a)	Includes restructuring charges of $70 million.


(b)	Includes restructuring charges of $59 million, and long-lived assets and goodwill impairment charges of $143 million and $125 million, respectively.


(c)	Includes restructuring charges of $154 million and a gain of $38 million primarily related to the sale of our pipeline and specialty services business and land drilling and workover rigs in Russia and Venezuela.

(d)


(e)	Includes estimated project losses of $26 million, $2 million, $10 million and $34 million for the first, second, third and fourth quarter of 2014, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.



	2013 Quarters
(Dollars in millions, except per share amounts)	First			Second				Third		Fourth				Total
Revenues	$	3,837		$	3,868			$	3,820	$	3,738			$	15,263
Gross Profit	831			742				784		604				2,961
Net Income (Loss) Attributable to Weatherford ⁽ⁱ⁾	22		^(f)	(118		)	^(g)	22		(271		)	^(h)	(345		)

Basic Earnings (Loss) Per Share	0.03			(0.15		)		0.03		(0.35		)		(0.45		)
Diluted Earnings (Loss) Per Share	0.03			(0.15		)		0.03		(0.35		)		(0.45		)

Business Combinations and Divestitures (Acquisitions) (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	May 31, 2012	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Apr. 30, 2014
Business Acquisition [Line Items]
Capital Expenditures for Property, Plant and Equipment				$ (18)	$ 8	$ 165
Acquisitions				6	$ 2
Joint Venture in China [Member]
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired								30.00%
Capital Expenditures for Property, Plant and Equipment			$ 13
Ownership percentage before acquisition of additional ownership interest								45.00%
Ownership percentage of joint venture after acquisition		75.00%	75.00%
Business combination, remeasurement gain			$ 16
Acquisitions			$ 6
Cash acquired from acquisition		$ 30
Company that Designs and Produces Well Completion Tools [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 29
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	3
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 39
Business Combination, Consideration Transferred, Liabilities Incurred	$ 16
Business Combination, Contingent Consideration, Liability				$ 3
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Capital Expenditures for Property, Plant and Equipment							$ 144

Business Combinations and Divestitures (Divestitures Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jul. 31, 2014	Oct. 07, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Businesses and Investments, Net	$ (311)				$ (349)	$ (24)	$ (28)
Long-Lived Assets Impairment					495	0	0
Goodwill, Impairment Loss	40	$ (125)			66		589
Total Current Liabilities Held for Sale	0		$ 318		0	318
Engineered Chemistry and Integrity Dilling Fluids Business [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price	750				750
Estimated working capital adjustment	(16)				(16)
Transaction costs on disposition					(12)
Gain on Sale of Businesses and Investments, Net					(250)
Accounts Receivables, net	48		48		48	48
Inventories, net	99		103		99	103
Other Assets	1		5		1	5
Total Current Liabilities Held for Sale	$ 44		79		44	79
Proserv Group Business [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Businesses and Investments, Net					$ (65)
Pipeline and Specialty Services Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price				$ 246
Cash disposed to sell disposal group				245
Estimated working capital adjustment				2
Gain on Sale of Businesses and Investments, Net				$ (49)
Industrial Screen Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price			137			137
Gain on Sale of Businesses and Investments, Net						(6)
Disposal Group,cash and cash equivalents			54			54
Accounts Receivables, net			36			36
Inventories, net			37			37
Other Assets			93			93
Liabilities			69			69
Total Current Liabilities Held for Sale			60			60
Land Drilling and Workover Rig Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price								$ 499
Cash disposed to sell disposal group								486
Estimated working capital adjustment								$ 3
Gain on Sale of Businesses and Investments, Net		15
Long-Lived Assets Impairment		143
Goodwill, Impairment Loss		121
Goodwill impairment (classified as assets held for sale)		$ 95
Accounts Receivables, net			244			244
Inventories, net			170			170
Other Assets			4			4
Total Current Liabilities Held for Sale			318			$ 318
Borets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investment, ownership percentage									38.50%
Net Sales Proceeds			400
Proceeds from sale of equity method investments			$ 359
Net sales proceeds, promissory note term			3 years
Amount of consideration received			$ 30
Value of consideration given			11
Equity Method Investment, Realized Gain (Loss) on Disposal			$ 18
Subsea Controls Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Businesses and Investments, Net							(28)
Amount of consideration received							173
Inventories, net							38
Liabilities							13
Gain (Loss) on disposition of business, net of tax							25
Accounts receivable and other current assets							39
Property, plant and equipment							5
Goodwill							$ 74

Summary of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($) country $ / shares shares	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2013 SFr / shares shares
Accounting Policies [Abstract]
Number of countries operated in (over 100 countries) \| country	100
Years in operation	50 years
Common shares, authorized \| shares	1,356,000,000			840,000,000
Par value (in dollars or CHF per share) \| (per share)	$ 0.001			SFr 1.16
Principles of Consolidation
Maximum exposure to loss associated with variable interest	$ 42
Guaranteed debt on behalf of variable interest entities	70
Foreign Currency
Foreign currency transaction gain (loss)	$ (18)	$ (66)	$ (85)

Business Combinations and Divestitures (Divestitures - Assets Held for Sale) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	$ 57	$ 58	$ 57
Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]
Total Current Assets Held for Sale	0	1,604
Total Current Liabilities Held for Sale	0	318
Engineered Chemistry and Integrity Dilling Fluids Business [Domain]
Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]
Accounts Receivables, net	48	48
Inventories, net	99	103
Property, Plant, and Equipment, Net	55	52
Goodwill	270	270
Other Intangible Assets, Net	43	49
Other Assets	1	5
Total Assets	516	527
Accounts Payable	32	37
Deferred Tax Liabilities	10	19
Accrued Expenses and Other Liabilities	2	23
Total Current Liabilities Held for Sale	$ 44	79
Land Drilling and Workover Rig Operations [Member]
Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]
Accounts Receivables, net		244
Inventories, net		170
Other Current Assets		30
Property, Plant, and Equipment, Net		678
Goodwill		419
Other Intangible Assets, Net		59
Other Assets		4
Total Current Assets Held for Sale		1,604
Accounts Payable		173
Accrued Expenses and Other Liabilities		145
Total Current Liabilities Held for Sale		$ 318

Summary of Significant Accounting Policies (Major Customers and Credit Risk) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Concentration Risk [Line Items]
Concentration percentage	100.00%	100.00%	100.00%
Accounts receivable, current	$ 3,015	$ 3,351
Increase (decrease) in accounts receivable	(78)	12	$ 705
Depreciation	1,300	1,300	$ 1,200
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Petroleos de Venezuela, S.A. [Member]
Concentration Risk [Line Items]
Accounts receivable, current	66
Gain (loss) on sale of bonds		(58)
Increase (decrease) in accounts receivable		(127)
Bond face amount		$ 127
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Petroleos Mexicanos [Member]
Concentration Risk [Line Items]
Accounts receivable, current	$ 142
Accounts Receivable [Member] \| Latin America [Member] \| Geographic Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration percentage	26.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration percentage	10.00%	10.00%	10.00%

Summary of Significant Accounting Policies (Property, Plant and Equipment - Estimated Useful Lives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Depreciation	$ 1,300	$ 1,300	$ 1,200
Buildings and leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	10 years
Buildings and leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Rental and service equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	2 years
Rental and service equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	20 years
Machinery and other [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	2 years
Machinery and other [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	12 years

Summary of Significant Accounting Policies (Intangible Assets) (Details)	12 Months Ended
	Dec. 31, 2014
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	20 years

Summary of Significant Accounting Policies (Devaluation of Venezuelan Bolivar) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2014 USD ($) Bs. / $	Mar. 31, 2013 USD ($)	Dec. 31, 2014 USD ($) Bs. / $	Dec. 31, 2013 USD ($)	Feb. 13, 2013 Bs. / $	Feb. 12, 2013 Bs. / $
Venezuelan Bolivar [Member]
Impact of Foreign Currency Devaluation [Line Items]
Amount Recognized in Income Due to Inflationary Accounting, Net of Tax	$ (245)		$ (252)	$ (94)
Foreign Currency Exchange Rate, Translation \| Bs. / $					6.30	4.30
Currency devaluation expense		$ 100	245	$ 100
Venezuela [Member]
Impact of Foreign Currency Devaluation [Line Items]
Net investment in foreign country	361		361
Net monetary asset position	$ 36		$ 36
SICAD II [Member] \| Venezuelan Bolivar [Member]
Impact of Foreign Currency Devaluation [Line Items]
Foreign Currency Exchange Rate, Translation \| Bs. / $	50		50

Summary of Significant Accounting Policies (Earnings per Share - Weighted Average Shares Outstanding) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Weighted Average Number of Shares Outstanding, Diluted	777	772	765
Basic and Diluted weighted average shares outstanding	777	772	765

Summary of Significant Accounting Policies (Earnings Per Share - Antidilutive Shares) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Anti-dilutive potential shares	5	5	4

Restructuring Charges (Narrative) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 58

$ 154

$ 59

$ 70

$ 331

$ 0

Other Restructuring [Member]

111

Severance and Other Restructuring Liabilities [Member]

196

106

2014 Plan [Member]

2014 Plan [Member] | Asset impairment charges [Member]

273

2014 Plan [Member] | One-time Termination Benefits [Member]

135

^[1]

114

2014 Plan [Member] | Other Restructuring [Member]

^[1]

2014 Plan [Member] | Severance and Other Restructuring Liabilities [Member]

138

$ 106

[1]	Includes reversal of $5 million severance charges and $2 million facility related charges for the 2014 Plan.

Restructuring Charges (Restructuring Liability) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 0

$ 58

$ 154

$ 59

331

$ 0

(111)

(6)

Corporate and Research and Development [Member]

North America [Member]

Middle East/North Africa/Asia [Member]

141

Europe/Sub-Sahara Africa/Russia [Member]

Latin America [Member]

Other Restructuring [Member]

Severance and Other Restructuring Liabilities [Member]

196

(106)

Severance and Other Restructuring Liabilities [Member] | Corporate and Research and Development [Member]

Severance and Other Restructuring Liabilities [Member] | North America [Member]

Severance and Other Restructuring Liabilities [Member] | Middle East/North Africa/Asia [Member]

Severance and Other Restructuring Liabilities [Member] | Europe/Sub-Sahara Africa/Russia [Member]

Severance and Other Restructuring Liabilities [Member] | Latin America [Member]

2015 Plan [Member]

(5)

2015 Plan [Member] | Corporate and Research and Development [Member]

2015 Plan [Member] | North America [Member]

2015 Plan [Member] | Middle East/North Africa/Asia [Member]

2015 Plan [Member] | Europe/Sub-Sahara Africa/Russia [Member]

2015 Plan [Member] | Latin America [Member]

2014 Plan [Member]

273

2014 Plan [Member] | Corporate and Research and Development [Member]

2014 Plan [Member] | North America [Member]

2014 Plan [Member] | Middle East/North Africa/Asia [Member]

2014 Plan [Member] | Europe/Sub-Sahara Africa/Russia [Member]

133

2014 Plan [Member] | Latin America [Member]

2014 Plan [Member] | Employee Severance [Member]

2014 Plan [Member] | One-time Termination Benefits [Member]

(5)

^[1]

114

(94)

(6)

2014 Plan [Member] | Other Restructuring [Member]

^[1]

(12)

2014 Plan [Member] | Other Restructuring [Member] | Corporate and Research and Development [Member]

2014 Plan [Member] | Other Restructuring [Member] | North America [Member]

2014 Plan [Member] | Other Restructuring [Member] | Middle East/North Africa/Asia [Member]

2014 Plan [Member] | Other Restructuring [Member] | Europe/Sub-Sahara Africa/Russia [Member]

2014 Plan [Member] | Other Restructuring [Member] | Latin America [Member]

2014 Plan [Member] | Severance and Other Restructuring Liabilities [Member]

$ 0

138

(106)

(6)

2014 Plan [Member] | Facility [Member]

$ 26

$ 0

$ (2)

[1]	Includes reversal of $5 million severance charges and $2 million facility related charges for the 2014 Plan.

Percentage of Completion Contracts (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items]
Unapproved Change Orders, Amount	$ 80								$ 80
ChangeOrdersApprovedbyCustomer									26
Costs in Excess of Billings, Current	128								128
Iraq [Member]
Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items]
Loss on contracts	(34)	$ (10)	$ (2)	$ (26)	$ 148	$ 85	$ 6		72	$ 232	$ 100
Estimated loss on long term construction contract	379				307				379	307
Accounts Receivable, Unapproved Contract Claims	90				36				90	36
Liability for Claims and Claims Adjustment Expense					$ 82					$ 82
Deductions (Charges)	$ 24								$ 24
Revenues								$ 63

Supplemental Cash Flow Information (Schedule of Cash Paid for Interest and Taxes) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Feb. 13, 2013 Bs. / $	Feb. 12, 2013 Bs. / $
Interest paid, net of capitalized interest		$ 511	$ 525	$ 478
Income taxes paid, net of refunds		386	442	$ 443
Venezuelan Bolivar [Member]
Foreign Currency Exchange Rate, Translation \| Bs. / $					6.30	4.30
Amount Recognized in Income Due to Inflationary Accounting, Net of Tax	$ (245)	(252)	$ (94)
Asset, Reporting Currency Denominated, Value	$ (92)	$ (92)

Accounts Receivable Factoring (Details) - Mexico [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable sold, carrying value	$ 215	$ 177
Proceeds from sale of accounts receivable	204	163
Gain (loss) on sale of accounts receivable	$ (3)	$ (1)

Inventories, Net (Schedule of Inventory) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials, components and supplies	$ 194	$ 386
Work in process	135	130
Finished goods	2,758	2,684
Total Inventory	$ 3,087	$ 3,200

Inventories, Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Inventory [Line Items]
Inventory write-down	$ 113	$ 62	$ 53
Excessive Quantities and Obsolescence [Member]
Inventory [Line Items]
Inventory write-down		$ 62
Guar Inventory [Member] \| Lower of Cost or Market [Member]
Inventory [Line Items]
Inventory write-down			30
Guar Inventory [Member]
Inventory [Line Items]
Inventory write-down			$ 30

Long-lived and Other Asset Impairments (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 352		$ 495	$ 0	$ 0
Impairment of long-lived Assets to be disposed of			$ 495	$ 0	$ 0
Middle East/North Africa/Asia [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	175
Europe/Sub-Sahara Africa/Russia [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	28
Latin America [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 149
Land Drilling and Workover Rig Operations [Member]
Property, Plant and Equipment [Line Items]
Impairment of long-lived Assets to be disposed of		$ 143

Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Goodwill (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2012
Goodwill [Line Items]
Goodwill impairment loss	$ 40	$ (125)	$ 66	$ 589
Latin America [Member]
Goodwill [Line Items]
Goodwill impairment loss	15		15
Europe/Sub-Sahara Africa/Russia [Member]
Goodwill [Line Items]
Goodwill impairment loss	13	77	39
Middle East/North Africa/Asia [Member]
Goodwill [Line Items]
Goodwill impairment loss	$ 12	512	$ 12
Land Drilling and Workover Rig Operations [Member]
Goodwill [Line Items]
Goodwill impairment loss		121
Goodwill impairment (classified as assets held for sale)		$ 95

Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill [Roll Forward]
Beginning Balance			$ 3,290	$ 3,871
Acquisitions			6	2
Disposals				(41)
Impairment loss	$ (40)	$ 125	(66)		$ (589)
Purchase price and other adjustments			(5)
Foreign currency translation adjustments			(214)	(123)
Ending Balance	3,011		3,011	3,290	3,871
North America [Member]
Goodwill [Roll Forward]
Beginning Balance			1,981	2,336
Acquisitions			0	0
Disposals				(23)
Purchase price and other adjustments			1	1
Foreign currency translation adjustments			(86)	(71)
Ending Balance	1,896		1,896	1,981	2,336
Middle East/North Africa/Asia [Member]
Goodwill [Roll Forward]
Beginning Balance			207	226
Acquisitions			6	0
Disposals				(4)
Impairment loss	(12)	(512)	(12)
Purchase price and other adjustments			0	0
Foreign currency translation adjustments			(6)	(13)
Ending Balance	195		195	207	226
Europe/Sub-Sahara Africa/Russia [Member]
Goodwill [Roll Forward]
Beginning Balance			769	955
Acquisitions			0	2
Disposals				(13)
Impairment loss	(13)	$ (77)	(39)
Purchase price and other adjustments			8	(3)
Foreign currency translation adjustments			(115)	(29)
Ending Balance	623		623	769	955
Latin America [Member]
Goodwill [Roll Forward]
Beginning Balance			333	354
Acquisitions			0	0
Disposals				(1)
Impairment loss	(15)		(15)
Purchase price and other adjustments			(14)	2
Foreign currency translation adjustments			(7)	(10)
Ending Balance	$ 297		297	333	$ 354
Restatement Adjustment [Member]
Goodwill [Roll Forward]
Beginning Balance			(419)
Ending Balance				(419)
Restatement Adjustment [Member] \| North America [Member]
Goodwill [Roll Forward]
Beginning Balance			(262)
Ending Balance				(262)
Restatement Adjustment [Member] \| Middle East/North Africa/Asia [Member]
Goodwill [Roll Forward]
Beginning Balance			(2)
Ending Balance				(2)
Restatement Adjustment [Member] \| Europe/Sub-Sahara Africa/Russia [Member]
Goodwill [Roll Forward]
Beginning Balance			(143)
Ending Balance				(143)
Restatement Adjustment [Member] \| Latin America [Member]
Goodwill [Roll Forward]
Beginning Balance			$ (12)
Ending Balance				$ (12)

Other Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Amount	$ 1,184	$ 1,369
Finite-Lived Intangible Assets Held For Sale		(60)
Amortization	(733)	(743)
Impairment	(11)
Assets	440	566
Acquired technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amount	420	417
Finite-Lived Intangible Assets Held For Sale		(4)
Amortization	(287)	(238)
Impairment	0
Assets	133	175
Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amount	242	261
Finite-Lived Intangible Assets Held For Sale		(1)
Amortization	(169)	(161)
Impairment	0
Assets	73	99
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amount	232	271
Finite-Lived Intangible Assets Held For Sale		(4)
Amortization	(117)	(129)
Impairment	0
Assets	115	138
Customer relationships and contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Amount	205	329
Finite-Lived Intangible Assets Held For Sale		(46)
Amortization	(122)	(163)
Impairment	(5)
Assets	78	120
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Amount	85	91
Finite-Lived Intangible Assets Held For Sale		(5)
Amortization	(38)	(52)
Impairment	(6)
Assets	$ 41	$ 34

Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Indefinite-lived Intangible Assets [Line Items]
Carrying value of trademarks	$ 7	$ 12
Indefinite-lived Intangible Assets Acquired	5	15
Amortization expense	108	$ 120	$ 122
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	5
Rigs Business [Domain] \| Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived	$ 6

Other Intangible Assets (Amortization of Intangible Assets) (Details) $ in Millions	Dec. 31, 2014 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 71
2016	58
2017	58
2018	54
2019	$ 46

Equity Investments (Schedule of Equity Investments) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 106	$ 296
ProServ Group Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	0	168
Other Equity Investments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 106	$ 128

Equity Investments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 07, 2013
Schedule of Equity Method Investments [Line Items]
Gain (Loss) on Disposition of Business	$ 311			$ 349	$ 24	$ 28
Net Income (Loss) from equity investments				9	$ 37	$ 51
Impairment of equity investments			$ 204
Borets [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Realized Gain (Loss) on Disposal		$ 18
Equity method investment, ownership percentage							38.50%
Proserv Group Business [Domain]
Schedule of Equity Method Investments [Line Items]
Gain (Loss) on Disposition of Business				$ 65

Short-term Borrowings and Current Portion of Long-term Debt (Schedule of Short-term Debt) (Details) - USD ($) $ in Millions		12 Months Ended
	May 02, 2013	Dec. 31, 2014	Dec. 31, 2013
Short-term Debt [Line Items]
Total short-term borrowings		$ 677	$ 1,580
Current portion of long-term debt		50	73
Short-term borrowings and current portion of long-term debt		$ 727	$ 1,653
Weighted average interest rate on short-term borrowings outstanding at end of year		1.40%	1.70%
Commercial paper program [Member]
Short-term Debt [Line Items]
Total short-term borrowings		$ 245	$ 292
Weighted average interest rate on short-term borrowings outstanding at end of year		0.90%
Revolving credit facility [Member]
Short-term Debt [Line Items]
Total short-term borrowings		$ 0	772
364-day term loan facility [Member]
Short-term Debt [Line Items]
Total short-term borrowings		$ 175	300
Weighted average interest rate on short-term borrowings outstanding at end of year		1.90%
Debt instrument, term	364 days	364 days
Other short-term bank loans [Member]
Short-term Debt [Line Items]
Total short-term borrowings		$ 257	$ 216

Short-term Borrowings and Current Portion of Long-term Debt (Narrative) (Details) - USD ($)		12 Months Ended
	May 02, 2013	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2013
Short-term Debt [Line Items]
Credit agreement, maximum capacity				$ 300,000,000
Weighted average interest rate on short-term borrowings outstanding at end of year		1.40%	1.70%
Performance bonds		$ 278,000,000
Revolving credit facility [Member]
Short-term Debt [Line Items]
Credit agreement, maximum capacity		$ 2,250,000,000
Commercial paper program [Member]
Short-term Debt [Line Items]
Weighted average interest rate on short-term borrowings outstanding at end of year		0.90%
Committed letters of credit [Member]
Short-term Debt [Line Items]
Letters of credit outstanding, amount		$ 30,000,000
364-day term loan facility [Member]
Short-term Debt [Line Items]
Credit agreement, maximum capacity				$ 400,000,000
Weighted average interest rate on short-term borrowings outstanding at end of year		1.90%
Letters of credit outstanding, amount		$ 175,000,000
Debt instrument, term	364 days	364 days
Repayments of lines of credit		$ 225,000,000
Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Weighted average interest rate on short-term borrowings outstanding at end of year		1.60%
Short term borrowings		$ 257,000,000
Uncommitted letters of credit [Member]
Short-term Debt [Line Items]
Letters of credit outstanding, amount		$ 568,000,000
Maximum [Member] \| Revolving credit facility [Member]
Short-term Debt [Line Items]
Ratio of indebtedness to net capital percent required		0.6
Guarantor Subsidiaries, Weatherford Delaware [Member] \| 364-day term loan facility [Member]
Short-term Debt [Line Items]
Debt instrument, term		364 days
Bi-Lateral Revolver Debt [Member] \| Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Short term borrowings		$ 180,000,000
London Interbank Offered Rate (LIBOR) [Member] \| Domestic and foreign facility [Member]
Short-term Debt [Line Items]
Interest rate at period end		1.30%

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total	$ 6,848	$ 7,134
Less amounts due in one year	50	73
Long-term debt	$ 6,798	7,061
Senior Notes [Member] \| Senior Notes, 5.95 Percent due 2012 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	5.95%
Senior Notes [Member] \| Senior Notes, 5.15% due 2013 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	5.15%
Senior Notes [Member] \| Senior Notes, 4.95% due 2013 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	4.95%
Senior Notes [Member] \| Senior Notes, 5.50% due 2016 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	5.50%
Total	$ 352	353
Senior Notes [Member] \| Senior Notes, 6.35% due 2017 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	6.35%
Total	$ 607	610
Senior Notes [Member] \| Senior Notes, 6.00% due 2018 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	6.00%
Total	$ 498	498
Senior Notes [Member] \| Senior Notes, 9.625% due 2019 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	9.625%
Total	$ 1,018	1,021
Senior Notes [Member] \| Senior Notes, 5.125% due 2020 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	5.125%
Total	$ 798	798
Senior Notes [Member] \| Senior Notes, 4.50% due 2022 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	4.50%
Total	$ 715	747
Senior Notes [Member] \| Senior Notes, 6.50 Percent due 2036 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	6.50%
Total	$ 556	595
Senior Notes [Member] \| Senior Notes, 6.80% due 2037 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	6.80%
Total	$ 298	298
Senior Notes [Member] \| Senior Notes, 7.00% due 2038 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	7.00%
Total	$ 497	497
Senior Notes [Member] \| Senior Notes, 9.875% due 2039 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	9.875%
Total	$ 247	247
Senior Notes [Member] \| Senior Notes, 6.75% due 2040 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	6.75%
Total	$ 596	596
Senior Notes [Member] \| Senior Notes, 5.95% due 2042 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	5.95%
Total	$ 478	545
Secured Borrowings [Member] \| Secured Borrowing, 4.82% [Member]
Debt Instrument [Line Items]
Stated interest rate on debt	4.82%
Total	$ 12	102
Capital and Other Lease Obligations [Member]
Debt Instrument [Line Items]
Total	136	153
Other Long-term Debt [Member]
Debt Instrument [Line Items]
Total	$ 40	$ 74

Long-term Debt (Schedule of Debt Maturity) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Long-term Debt, Fiscal Year Maturity [Abstract]
2015	$ 50
2016	395
2017	628
2018	512
2019	45
Thereafter	5,218
Total	6,848	$ 7,134
Current portion of long-term debt	$ 50	$ 73

Long-term Debt (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
Long-term Debt (Narrative) (Details) - USD ($)	Aug. 31, 2012	Dec. 31, 2014	Dec. 31, 2012	Apr. 04, 2012
Debt Instrument [Line Items]
Consent solicitation, cash payment ratio	$ 2.50
Senior Notes [Member] \| Senior Notes, 4.50% and 5.95% [Member]
Debt Instrument [Line Items]
Total debt offering				$ 1,300,000,000.0
Senior Notes [Member] \| Senior Notes, 4.50% due 2022 [Member]
Debt Instrument [Line Items]
Total debt offering				750,000,000
Stated interest rate on debt		4.50%
Senior Notes [Member] \| Senior Notes, 5.95% due 2042 [Member]
Debt Instrument [Line Items]
Total debt offering				$ 550,000,000
Stated interest rate on debt		5.95%
Senior Notes [Member] \| Senior Notes, 6.50 Percent due 2036 [Member]
Debt Instrument [Line Items]
Stated interest rate on debt		6.50%
Interest Expense [Member]
Debt Instrument [Line Items]
Consent solicitation, cash payment ratio			$ 0
Consent solicitation expense			18,000,000
Consent solicitation expense, other costs			$ 12,000,000
Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 138,000,000
Gain on repurchase of debt		$ 11,000,000

Fair Value of Financial Instruments (Details) - Senior Notes [Member] - Level 2 [Member] - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of Long-term debt	$ 6,733	$ 7,580
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of Long-term debt	$ 6,660	$ 6,805

Derivative Instruments (Schedule of Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross	$ 12	$ 5
Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross	(17)	(6)
Cross-currency swap contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross	(5)	(21)
Other Nonoperating Income (Expense) [Member] \| Foreign currency forward contracts [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(22)	(12)
Other Nonoperating Income (Expense) [Member] \| Cross-currency swap contracts [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	16	13
Fair Value Hedging [Member] \| Interest Expense [Member] \| Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 9	$ 10

Derivative Instruments (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
Derivative Instruments (Narrative) (Details) - USD ($)	Jun. 30, 2012	Dec. 31, 2014	Dec. 31, 2013	Jul. 31, 2011
Interest Rate Swap [Member] \| Fair Value Hedging [Member]
Derivative [Line Items]
Notional amount				$ 300,000,000
Gain recognized upon termination	$ 18,000,000
Deferred (gain) loss on discontinuation of fair value hedge		$ (33,000,000)	$ (42,000,000)
Interest rate derivatives [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges		(11,000,000)	(11,000,000)
Foreign currency forward contracts [Member]
Derivative [Line Items]
Notional amount		1,612,000,000	992,000,000
Cross-currency swap contracts [Member]
Derivative [Line Items]
Notional amount		$ 168,000,000	$ 168,000,000
Senior Notes, 6.35% due 2017 [Member] \| Senior Notes [Member]
Derivative [Line Items]
Stated interest rate on debt		6.35%
Senior Notes, 6.35% due 2017 [Member] \| Senior Notes [Member] \| Interest Rate Swap [Member] \| Fair Value Hedging [Member]
Derivative [Line Items]
Stated interest rate on debt				6.35%

Shareholders' Equity (Schedule of Shares Issued and Treasury Stock) (Details) - shares shares in Thousands		12 Months Ended
	Feb. 28, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued for warrants	494
Issued [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		840,000	840,000	765,000
Shares issued for acquisitions				0
Equity awards granted, vested and exercised		0	0	0
Shares issued for warrants				5,000
Equity awards granted, vested and exercised				70,000
Shares Cancelled due to Redomestication		(840,000)
Shares Issued due to Redomestication		774,000
Ending Balance		774,000	840,000	840,000
Treasury [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		(73,000)	(79,000)	(16,000)
Shares issued for acquisitions				3,000
Equity awards granted, vested and exercised		2,000	6,000	4,000
Shares issued for warrants				0
Equity awards granted, vested and exercised				70,000
Shares Cancelled due to Redomestication		71,000
Shares Issued due to Redomestication		0
Ending Balance		0	(73,000)	(79,000)

Shareholders' Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		$ (187)	$ 163
Other comprehensive income before reclassifications		(784)	(316)
Reclassifications		92	(34)
Ending balance	$ (881)	(881)	(187)	$ 163
Gain on Sale of Businesses and Investments, Net	(311)	(349)	(24)	(28)
Other Comprehensive Income (Loss), Net of Tax		694	350	(83)
Stockholders' Equity, Period Increase (Decrease)		2
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(140)	213
Other comprehensive income before reclassifications		(763)	(316)
Reclassifications		90	(37)
Ending balance	(813)	(813)	(140)	213
Other Comprehensive Income (Loss), Net of Tax		(673)	(353)
Stockholders' Equity, Period Increase (Decrease)		0
Defined Benefit Pension [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(38)	(40)
Other comprehensive income before reclassifications		(21)	0
Reclassifications		2	2
Ending balance	(57)	(57)	(38)	(40)
Other Comprehensive Income (Loss), Net of Tax		(19)	2
Stockholders' Equity, Period Increase (Decrease)		0
Deferred Loss on Derivatives [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(9)	(10)
Other comprehensive income before reclassifications		0	0
Reclassifications		0	1
Ending balance	$ (11)	(11)	(9)	$ (10)
Other Comprehensive Income (Loss), Net of Tax		(2)	$ 1
Stockholders' Equity, Period Increase (Decrease)		$ 2

Shareholders' Equity (Narrative) (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Feb. 28, 2012 USD ($) shares	Mar. 04, 2011 shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($)	Dec. 31, 2013 SFr / shares shares
Class of Warrant or Right [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax \| $			$ (92)	$ 34
Common Shares, Par Value (in CHF per share) \| (per share)			$ 0.001		SFr 1.16
Common shares, authorized			1,356,000,000		840,000,000
Common shares, conditionally authorized			0		372,000,000
Proceeds from issuance of warrants \| $	$ 65
Shares issued for warrants	494,000
Net Share Settlement [Member]
Class of Warrant or Right [Line Items]
Warrants exercised during the period		4,300,000
Physical Delivery of Shares [Member]
Class of Warrant or Right [Line Items]
Warrants exercised during the period	4,300,000
Industrial Screen Business [Member]
Class of Warrant or Right [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax \| $				(30)
Accumulated Translation Adjustment [Member]
Class of Warrant or Right [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax \| $			$ (90)	$ 37

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant under Incentive Plans	13,200
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term (in years) that awards will be granted	10 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised	$ 13	$ 12	$ 4
Employee Stock Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock and Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value	$ 18.98	$ 13.49	$ 13.30
Total fair value of awards vested during the period	$ 52	$ 61	$ 78
Unrecognized compensation expense	$ 77
Unrecognized compensation expense, recognition period	2 years
Restricted Stock and Restricted Stock Units (RSUs) [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Restricted Stock and Restricted Stock Units (RSUs) [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Performance units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Risk-free interest rate	0.34%
Volatility rate	33.53%
Dividend yield	0.00%
Weighted-average grant date fair value	$ 14.31	$ 10.81	$ 21.32
Total fair value of awards vested during the period	$ 11	$ 8	$ 1
Shares issued for share-based compensation awards (in shares)	541	1,300
Unrecognized compensation expense	$ 12
Unrecognized compensation expense, recognition period	1 year

Share-Based Compensation (Schedule of Share-based Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	$ 56	$ 66	$ 76
Related tax benefit	$ 12	$ 11	$ 27

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options	$ 11,000
Employee Stock Option [Member]
A summary of option activity for the period [Roll Forward]
Number of options outstanding, beginning of period	7,956
Number of options, exercised	(1,313)
Number of options outstanding, end of period	6,643	7,956
Share based payment award, options, additional disclosures [Abstract]
Weighted-average exercise price, outstanding at beginning of period	$ 9.31
Weighted average exercise price, exercised	8.24
Weighted average exercise price, outstanding at end of period	$ 9.52	$ 9.31
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	1 year 2 months 4 days	2 years 4 days
Aggregate intrinsic value, outstanding	$ 23,500	$ 54,775
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	5,368,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 7.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 11 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 23,500

Share-Based Compensation (Restricted Stock Activity) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2014 $ / shares shares
Restricted share awards [Member]
Non-vested equity instruments other than options [Roll Forward]
Non-vested, beginning balance \| shares	3,211
Granted \| shares	425
Vested \| shares	(1,171)
Forfeited \| shares	(211)
Non-vested, ending balance \| shares	2,254
Weighted-average grant date fair value of other-than-options additional disclosures [Rollforward]
Non-vested, beginning balance \| $ / shares	$ 14.80
Granted \| $ / shares	17.72
Vested \| $ / shares	14.87
Forfeited \| $ / shares	14.97
Non-vested, ending balance \| $ / shares	$ 15.31
Restricted share units [Member]
Non-vested equity instruments other than options [Roll Forward]
Non-vested, beginning balance \| shares	3,137
Granted \| shares	2,997
Vested \| shares	(1,633)
Forfeited \| shares	(201)
Non-vested, ending balance \| shares	4,300
Weighted-average grant date fair value of other-than-options additional disclosures [Rollforward]
Non-vested, beginning balance \| $ / shares	$ 14.26
Granted \| $ / shares	19.16
Vested \| $ / shares	15.29
Forfeited \| $ / shares	15.93
Non-vested, ending balance \| $ / shares	$ 17.21

Share-Based Compensation (Performance Unit Activity) (Details) - Performance units [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards granted, vested and exercised	541	1,300
Non-vested equity instruments other than options [Roll Forward]
Non-vested, beginning balance	1,911
Granted	801
Vested	(282)
Forfeited	(482)
Non-vested, ending balance	1,948	1,911
Weighted-average grant date fair value of other-than-options additional disclosures [Rollforward]
Non-vested, beginning balance	$ 16.05
Granted	14.31	$ 10.81	$ 21.32
Vested	12.49
Forfeited	28.61
Non-vested, ending balance	$ 12.74	$ 16.05
Total fair value of awards vested during the period	$ 11	$ 8	$ 1

Retirement and Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost	$ 18	$ 20	$ 16
Projected benefit obligation	325	297
Actuarial Losses	42
Foreign currency exchange rate gain (loss)	28
Accumulated benefit obligation for defined benefit pension plans	75	52
Accumulated other comprehensive income (loss), net gains (losses), before tax	33
Employer contributions	14	12
Amount expected to be contributed to the next fiscal year to the pension and postretirement benefit plans (in hundredths)	6
Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	161	151
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution expenses related to the defined contribution plans which cover certain employees	$ 79	$ 73	$ 62

Retirement and Employee Benefit Plans (Assumptions) (Details)	Dec. 31, 2014	Dec. 31, 2013
Domestic Pension Plan of Foreign Entity [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.00%	1.00%
Rate of compensation increase	0.00%	0.00%
Domestic Pension Plan of Foreign Entity [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.00%	4.75%
Rate of compensation increase	0.00%	0.00%
Foreign Pension Plan [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.65%	3.50%
Rate of compensation increase	2.00%	3.00%
Foreign Pension Plan [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	7.00%	7.00%
Rate of compensation increase	3.30%	4.50%

Income Taxes (Schedule of Income Tax Benefit (Provision)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 235	$ 289	$ 296	$ 292
Deferred Tax Assets, Operating Loss Carryforwards	600	614
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	(20)	(13)	(23)
Current Income Tax Expense (Benefit)	350	177	475
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	70	(89)	341
Tax on Divestitures	109	0	0
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	222	264	108
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	235	224
Deferred Tax Assets, Tax Credit Carryforwards	103	115
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits	70	54
Deferred Tax Assets, Inventory	70	51
Deferred Tax Assets, Other	108	79
Deferred Tax Assets, Valuation Allowance	732	554
Deferred Tax Assets, Net of Valuation Allowance	454	583
Deferred Tax Liabilities, Property, Plant and Equipment	324	415
Deferred Tax Liabilities, Goodwill and Intangible Assets	206	221
Deferred Tax Liabilities, Tax Deferred Income	22	6
Deferred Tax Liabilities, Other	21	22
Deferred Tax Liabilities, Gross	573	664
Deferred Tax Assets, Net	(119)	(81)
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	23	64	8
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	35	12	1
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	2	31	29
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	24	60	14
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	9	19	19
Unrecognized Tax Benefits, Increase (Decrease) Resulting from Foreign Currency Translation	(11)	(11)	1
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount	(97)	(18)	36
Total deferred benefit	66	33	13
Income tax benefit (provision)	$ (284)	$ (144)	$ (462)

Income Taxes (Effective Income Tax Rate) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Impairment of Long-Lived Assets Held-for-use	$ 352	$ 495	$ 0	$ 0
Statutory income tax rate		7.83%	7.83%	7.83%
Income tax benefit (provision)		$ (284)	$ (144)	$ (462)

Income Taxes (Narrative) (Details) $ in Millions	3 Months Ended					9 Months Ended	12 Months Ended
Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2014 USD ($) country	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Mar. 31, 2013 USD ($)	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) country	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Jul. 31, 2014 USD ($)	Dec. 31, 2011 USD ($)
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense							$ 53	$ 21	$ 21
Tax Credit Carryforward, Amount	$ 103						103
Provision for Income Taxes							(284)	(144)	(462)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest							(255)	(170)	(288)
Asset Impairment Charges	(40)		$ (143)
Impairment of Long-Lived Assets Held-for-use	(352)						(495)	0	0
Long-Lived Assets Impairment							495	0	0
Loss contingency accrual, provision							0	153	100
Gain (Loss) on Sale of Interest in Projects								(299)
Bad debt expense							27	102	22
Gain (Loss) on Disposition of Business	311						349	24	28
Goodwill impairment loss	40		(125)				66		589
Impairment Of Equity Method Investments									204
Restructuring Charges	$ 58	$ 154	59	$ 70			$ 331	0	0
Number of countries operated in (over 100 countries) \| country	100						100
Undistributed Earnings of Foreign Subsidiaries	$ 3,000						$ 3,000
Operating Loss Carryforwards	2,600						2,600
Significant (Increase) Decrease in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Upper Bound	24						24
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	58						58	121	142
United States [Member]
Income Tax Contingency [Line Items]
Tax Credit Carryforward, Amount	85						85
Operating Loss Carryforwards	239						239
Iraq [Member]
Income Tax Contingency [Line Items]
Valuation allowance	172						172
Trade Sanctions [Member]
Income Tax Contingency [Line Items]
Loss contingency accrual, provision									100
Research Tax Credit Carryforward [Member] \| United States [Member]
Income Tax Contingency [Line Items]
Tax Credit Carryforward, Amount	28						28
Foreign Tax Credit Carryforward [Member] \| United States [Member]
Income Tax Contingency [Line Items]
Tax Credit Carryforward, Amount	57						57
Venezuelan Bolivar [Member]
Income Tax Contingency [Line Items]
Currency devaluation expense					$ 100		245	100
Amount Recognized in Income Due to Inflationary Accounting, Net of Tax	(245)						(252)	(94)
Valuation Allowance of Deferred Tax Assets [Member]
Income Tax Contingency [Line Items]
Valuation allowance	732						732	554	$ 317		$ 201
Valuation Allowance of Deferred Tax Assets [Member] \| Iraq [Member]
Income Tax Contingency [Line Items]
Valuation allowance								134
Operating Segments [Member]
Income Tax Contingency [Line Items]
Bad debt expense							72	98
Europe/Sub-Sahara Africa/Russia [Member]
Income Tax Contingency [Line Items]
Impairment of Long-Lived Assets Held-for-use	(28)
Bad debt expense								$ 10
Goodwill impairment loss	$ 13		77				39
Restructuring Charges							36
Goodwill Impairment including assets held for sale [Member]
Income Tax Contingency [Line Items]
Goodwill impairment loss							$ (161)
Pipeline and Specialty Services Business [Member]
Income Tax Contingency [Line Items]
Gain (Loss) on Disposition of Business						$ 49
Cash disposed to sell disposal group		$ 245				$ 245
Land Drilling and Workover Rig Operations [Member]
Income Tax Contingency [Line Items]
Long-Lived Assets Impairment			143
Gain (Loss) on Disposition of Business			(15)
Cash disposed to sell disposal group										$ 486
Goodwill impairment loss			$ 121

Disputes, Litigation and Contingencies (Details) - USD ($) $ in Millions		2 Months Ended	12 Months Ended
	Jan. 29, 2014	Feb. 25, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loss Contingencies [Line Items]
Loss contingency accrual, provision			$ 0	$ 153	$ 100
U.S. District Court for the Southern District of Texas v. Weatherford International Ltd. [Member] \| Oil-for-Food Program and Foreign Corrupt Practices Act [Member]
Loss Contingencies [Line Items]
Payments for legal settlements		$ 253
Period of time expected to be monitored for assessing company's compliance upon settlement				18 months
Dobina v. Weatherford International Ltd., et al. [Member] \| Subsequent Event [Member] \| Material Weakness in Internal Controls [Member]
Loss Contingencies [Line Items]
Payments for legal settlements	$ 53

Commitments (Details) - USD ($) $ in Millions	12 Months Ended
Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]
2015	$ 269
2016	275
2017	154
2018	121
2019	76
Thereafter	233
Total	1,128
Total rent expense incurred under operating leases	$ 536	$ 581	$ 458

Segment Information (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 3,727

$ 3,877

$ 3,711

$ 3,596

$ 3,738

$ 3,820

$ 3,868

$ 3,837

$ 14,911

$ 15,263

$ 15,215

505

523

^[1]

298

1,371

1,402

1,282

1,450

1,575

2,177

Operating Segments [Member]

18,889

21,977

18,889

21,977

14,911

15,263

15,215

1,723

1,318

1,822

1,348

1,382

1,257

Operating Segments [Member] | North America [Member]

1,388

1,512

2,126

6,852

6,390

6,824

996

820

^[2]

1,078

^[3]

431

424

412

454

434

744

Operating Segments [Member] | Middle East/North Africa/Asia [Member]

7,297

7,720

7,297

7,720

3,095

3,344

2,795

(96)

^[2]

^[3]

401

396

352

319

526

657

Operating Segments [Member] | Europe/Sub-Sahara Africa/Russia [Member]

4,736

5,328

4,736

5,328

2,584

2,693

2,519

386

288

^[2]

315

^[3]

259

286

255

303

305

341

Operating Segments [Member] | Latin America [Member]

3,203

4,346

3,203

4,346

2,380

2,836

3,077

256

306

^[2],[4]

395

^[3]

257

276

238

312

247

384

Corporate and Research and Development [Member]

3,307

4,247

3,307

4,247

(468)

(466)

(453)

Impairment of Long-lived Assets, net of tax [Member]

$ 346

$ 336

346

336

Goodwill Impairment including assets held for sale [Member]

(495)

Restructuring Charges [Member]

(161)

(793)

U.S. Government Investigation Loss [Member]

^[5]

(331)

Gain on Sale of Business [Member]

(153)

(100)

349

Other Items [Member]

Condensed Income Statements, Captions [Line Items]

$ (112)

^[6]

$ (200)

^[7]

$ (206)

^[1]

[1]	Includes income tax restatement and material weakness remediation expenses of $103 million, $13 million of costs incurred in connection with U.S. government investigations, $11 million of non-recurring fees and expenses associated with our 2012 debt consent solicitation and severance, exit and other charges of $79 million.
[2]	We recognized a charge for bad debt expense of $98 million attributable to our reporting segments as follows: $59 million in Latin America, $27 million in MENA/Asia Pacific, $10 million for Europe/SSA/Russia, and $2 million in North America. See footnote (d) below for additional details for the bad debt expense charge in Latin America of $59 million. During 2013, we recognized a charge for excess and obsolete inventory of $62 million attributable to each reporting segment as follows: $35 million in North America, $7 million in MENA/Asia Pacific, $13 million in Europe/SSA/Russia and $7 million in Latin America.
[3]	We recognized a charge for excess and obsolete inventory of $53 million attributable to each reporting segment as follows: $21 million in North America, $16 million in MENA/Asia Pacific, $11 million in Europe/SSA/Russia and $5 million in Latin America. We also recognized a charge of $30 million to adjust the carrying value of our guar inventory, a component of certain drilling fluids, to the lower of cost or market, all of which was attributable to the North America reporting segment.
[4]	On December 17, 2013, we accepted bonds with a face value of $127 million from PDVSA in full settlement of $127 million in trade receivables. Upon receipt, we immediately sold these bonds in a series of transactions recognizing a loss of $58 million.
[5]	We recognized 2014 Plan restructuring charges of $273 million: $42 million in North America, $133 million in MENA/Asia Pacific, $31 million in Europe/SSA/Russia, $37 million in Latin America and $30 million in Corporate and Research and Development. We also recognized $58 million restructuring charges for our 2015 Plan: $32 million in North America, $8 million in MENA/Asia Pacific, $5 million in Europe/SSA/Russia, $12 million in Latin America and $1 million in Corporate and Research and Development.
[6]	Includes professional fees of $107 million related to the divestiture of our non-core businesses, restatement related litigation, the settlement of the U.S. government investigations, and our 2014 redomestication from Switzerland to Ireland and other charges of $5 million.
[7]	Includes $67 million of professional fees and expenses for U.S. government investigations and the remediation of our material weakness related to income taxes, $94 million of severance and $39 million of other items.

Segment Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 352				$ 495	$ 0	$ 0
Restructuring Charges	58	$ 154	$ 59	$ 70	331	0	0
Deferred tax assets for long-lived assets	129				129	33
Bad debt expense					27	102	22
Increase (decrease) in accounts receivable					(78)	12	705
Professional fees and expenses for investigations and remediation of material weakness					107	67	103
Fees related to Ireland Redomestication					5
Severance, exit and other charges						39	79
Consent solicitation fees							11
Inventory write-down					113	62	53
Assets	18,889				18,889	21,977
North America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					74
Bad debt expense						2
Inventory write-down						35	21
Middle East/North Africa/Asia [Member]
Segment Reporting Information [Line Items]
Impairment of Long-Lived Assets Held-for-use	175
Restructuring Charges					141
Bad debt expense						27
Inventory write-down						7	16
Europe/Sub-Sahara Africa/Russia [Member]
Segment Reporting Information [Line Items]
Impairment of Long-Lived Assets Held-for-use	28
Restructuring Charges					36
Bad debt expense						10
Inventory write-down						13	11
Latin America [Member]
Segment Reporting Information [Line Items]
Impairment of Long-Lived Assets Held-for-use	149
Restructuring Charges					49
Bad debt expense						59
Inventory write-down						7	5
Excessive Quantities and Obsolescence [Member]
Segment Reporting Information [Line Items]
Inventory write-down						62
Customer Concentration Risk [Member] \| Petroleos de Venezuela, S.A. [Member] \| Accounts Receivable [Member]
Segment Reporting Information [Line Items]
Increase (decrease) in accounts receivable						(127)
Bond face amount						127
Gain (loss) on sale of bonds						(58)
Employee Severance [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					58
Severance, exit and other charges						94
Guar Inventory [Member] \| Lower of Cost or Market [Member]
Segment Reporting Information [Line Items]
Inventory write-down							30
U.S. Government Investigations [Member]
Segment Reporting Information [Line Items]
Investigation costs							$ 13
Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					31
Assets	346				346	336
Operating Segments [Member]
Segment Reporting Information [Line Items]
Bad debt expense					72	98
Operating Segments [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Assets	7,297				7,297	7,720
Operating Segments [Member] \| Middle East/North Africa/Asia [Member]
Segment Reporting Information [Line Items]
Assets	4,736				4,736	5,328
Operating Segments [Member] \| Europe/Sub-Sahara Africa/Russia [Member]
Segment Reporting Information [Line Items]
Assets	3,203				3,203	4,346
Operating Segments [Member] \| Latin America [Member]
Segment Reporting Information [Line Items]
Assets	3,307				3,307	4,247
Operating Segments [Member] \| United States [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Assets	6,100				6,100	6,200
Operating Segments [Member] \| North America, Excluding the United States [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Assets	$ 1,200				1,200	$ 1,500
2014 Plan [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					273
2014 Plan [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					42
2014 Plan [Member] \| Middle East/North Africa/Asia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					133
2014 Plan [Member] \| Europe/Sub-Sahara Africa/Russia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					31
2014 Plan [Member] \| Latin America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					37
2014 Plan [Member] \| Employee Severance [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					114
2014 Plan [Member] \| Employee Severance [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					15
2014 Plan [Member] \| Employee Severance [Member] \| Middle East/North Africa/Asia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					23
2014 Plan [Member] \| Employee Severance [Member] \| Europe/Sub-Sahara Africa/Russia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					18
2014 Plan [Member] \| Employee Severance [Member] \| Latin America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					30
2014 Plan [Member] \| Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					30
2014 Plan [Member] \| Corporate and Research and Development [Member] \| Employee Severance [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					28
2015 Plan [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					58
2015 Plan [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					32
2015 Plan [Member] \| Middle East/North Africa/Asia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					8
2015 Plan [Member] \| Europe/Sub-Sahara Africa/Russia [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					5
2015 Plan [Member] \| Latin America [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					12
2015 Plan [Member] \| Corporate and Research and Development [Member]
Segment Reporting Information [Line Items]
Restructuring Charges					$ 1

Segment Information (Products and Services) (Details)	12 Months Ended
Segment Information (Products and Services) (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenue from External Customer [Line Items]
Consolidated revenues by product line	100.00%	100.00%	100.00%
Product Concentration Risk [Member] \| Sales Revenue, Net [Member] \| Formation Evaluation and Well Construction [Member]
Revenue from External Customer [Line Items]
Consolidated revenues by product line	58.00%	61.00%	56.00%
Product Concentration Risk [Member] \| Sales Revenue, Net [Member] \| Completion and Production [Member]
Revenue from External Customer [Line Items]
Consolidated revenues by product line	42.00%	39.00%	44.00%

Segment Information (Geographic Areas) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Deferred tax assets for long-lived assets	$ 129				$ 33				$ 129	$ 33
Revenues	3,727	$ 3,877	$ 3,711	$ 3,596	3,738	$ 3,820	$ 3,868	$ 3,837	14,911	15,263	$ 15,215
Long-lived Assets	7,365				8,154				7,365	8,154
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									5,567	5,146	5,465
Long-lived Assets	2,114				2,212				2,114	2,212
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									1,285	1,244	1,359
Long-lived Assets	264				431				264	431
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									479	959	1,274
Long-lived Assets	170				226				170	226
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									7,580	7,914	$ 7,117
Long-lived Assets	$ 4,817				$ 5,285				$ 4,817	$ 5,285

Subsequent Events (Details) $ in Millions	Dec. 31, 2014 USD ($)	Feb. 13, 2013 Bs. / $	Feb. 12, 2013 Bs. / $
Venezuelan Bolivar [Member]
Subsequent Event [Line Items]
Foreign Currency Exchange Rate, Translation \| Bs. / $		6.30	4.30
Venezuela [Member]
Subsequent Event [Line Items]
Net Monetary Asset Position \| $	$ 36

Consolidating Financial Statements (Condensed Consolidating Statement of Operations) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 3,727

$ 3,877

$ 3,711

$ 3,596

$ 3,738

$ 3,820

$ 3,868

$ 3,837

$ 14,911

$ 15,263

$ 15,215

(14,406)

(14,740)

(14,917)

505

523

^[1]

298

(498)

(516)

(486)

(262)

(177)

(100)

(255)

(170)

(288)

(284)

(144)

(462)

Payments for Divestiture of Businesses

(539)

(314)

(750)

(112)

Net Income Attributable to Noncontrolling Interests

(45)

(31)

(28)

Comprehensive Income (Loss) Attributable to Weatherford

$ (475)

^[2],[3]

$ 77

^[3],[4]

$ (145)

^[3],[5]

$ (41)

^[3],[6]

$ (271)

^[7],[8]

$ 22

$ (118)

^[7],[9]

$ 22

^[7],[10]

(584)

(345)

(778)

(1,278)

(695)

Weatherford Ireland Parent Company [Member]

Condensed Income Statements, Captions [Line Items]

(59)

(50)

(59)

(59)

(50)

(59)

(99)

(53)

(28)

(424)

(242)

(689)

(2)

(582)

(345)

(778)

(2)

Net Income Attributable to Noncontrolling Interests

(345)

(778)

Comprehensive Income (Loss) Attributable to Weatherford

(584)

(345)

(778)

(1,278)

(695)

Weatherford Bermuda [Member]

Condensed Income Statements, Captions [Line Items]

(18)

(139)

(114)

(18)

(139)

(114)

(422)

(430)

(401)

7,291

(430)

(701)

(31)

(34)

6,441

(521)

(1,197)

Net Income Attributable to Noncontrolling Interests

6,441

(521)

(1,197)

Comprehensive Income (Loss) Attributable to Weatherford

6,441

(521)

(1,197)

5,811

(788)

(1,197)

Guarantor Subsidiaries, Weatherford Delaware [Member]

Condensed Income Statements, Captions [Line Items]

(3)

(5)

(3)

(5)

(57)

(61)

(69)

(266)

(337)

(233)

407

461

(94)

(3)

(2)

(401)

131

145

107

Net Income Attributable to Noncontrolling Interests

215

203

(294)

Comprehensive Income (Loss) Attributable to Weatherford

215

203

(294)

(128)

(294)

Other Subsidiaries [Member]

Condensed Income Statements, Captions [Line Items]

14,911

15,263

15,215

(14,332)

(14,548)

(14,739)

579

715

476

(19)

(25)

(16)

(8,802)

341

208

(2)

(279)

(144)

(64)

(8,523)

887

604

(413)

(289)

(569)

Net Income Attributable to Noncontrolling Interests

(8,936)

598

(45)

(31)

(28)

Comprehensive Income (Loss) Attributable to Weatherford

(8,981)

567

(9,674)

214

Eliminations [Member]

Condensed Income Statements, Captions [Line Items]

1,876

449

(249)

1,484

2,325

(249)

1,484

Net Income Attributable to Noncontrolling Interests

2,325

(249)

1,484

Comprehensive Income (Loss) Attributable to Weatherford

2,325

(249)

1,484

$ 3,991

$ 535

$ 1,401

[1]	Includes income tax restatement and material weakness remediation expenses of $103 million, $13 million of costs incurred in connection with U.S. government investigations, $11 million of non-recurring fees and expenses associated with our 2012 debt consent solicitation and severance, exit and other charges of $79 million.
[2]	Includes a long-lived asset impairment charge of $352 million, a goodwill impairment charge of $40 million, a $245 million charge related to adopting the SICAD II exchange rate, a gain of $311 million primarily related to the sale of our engineered chemistry and Integrity drilling fluids businesses and the disposal of all of our shares in Proserv. This also includes restructuring charges of $58 million associated with our 2015 plan.
[3]	Includes estimated project losses of $26 million, $2 million, $10 million and $34 million for the first, second, third and fourth quarter of 2014, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[4]	Includes restructuring charges of $154 million and a gain of $38 million primarily related to the sale of our pipeline and specialty services business and land drilling and workover rigs in Russia and Venezuela.
[5]	Includes restructuring charges of $59 million, and long-lived assets and goodwill impairment charges of $143 million and $125 million, respectively.
[6]	Includes restructuring charges of $70 million.
[7]	Includes estimated project gain of $7 million for the first quarter, estimated project loss of $6 million, $85 million and $148 million for the second, third and fourth quarter of 2013, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[8]	Includes our recognition of a $58 million loss upon settlement of $127 million in outstanding receivables due from PDVSA.
[9]	Includes a $153 million accrual related to the U.S. government investigations.
[10]	Effective February 13, 2013, the Venezuelan government devalued its currency and the official exchange rate moved from 4.30 per dollar to 6.30 per dollar for all goods and services. We recognized a charge of approximately $100 million for the remeasurement of our net monetary assets denominated in the Venezuelan bolivar at the date of the devaluation.

Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current Assets
Cash and Cash Equivalents	$ 474	$ 435	$ 300	$ 371
Other Current Assets	7,470	9,499
Total Current Assets	7,944	9,934
Equity Investments in Affiliates	0	0
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	10,945	12,043
Total Assets	18,889	21,977
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	727	1,653
Accounts Payable and Other Current Liabilities	3,300	4,104
Total Current Liabilities	4,027	5,757
Long-term Debt	6,798	7,061
Intercompany Payables, Net	0	0
Other Long-term Liabilities	1,031	956
Total Liabilities	11,856	13,774
Weatherford Shareholders’ Equity	6,958	8,162
Noncontrolling Interests	75	41
Total Liabilities and Shareholders’ Equity	18,889	21,977
Eliminations [Member]
Current Assets
Cash and Cash Equivalents	0	0	0	0
Other Current Assets	(614)	(408)
Total Current Assets	(614)	(408)
Equity Investments in Affiliates	(32,856)	(34,936)
Equity Held in Parent		(37)
Intercompany Receivables, Net	(10,490)	(7,304)
Other Assets	0	0
Total Assets	(43,960)	(42,685)
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	0	0
Accounts Payable and Other Current Liabilities	(614)	(408)
Total Current Liabilities	(614)	(408)
Long-term Debt	1	0
Intercompany Payables, Net	(10,490)	(7,304)
Other Long-term Liabilities	0	0
Total Liabilities	(11,103)	(7,712)
Weatherford Shareholders’ Equity	(32,857)	(34,973)
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	(43,960)	(42,685)
Weatherford Switzerland [Member]
Current Assets
Cash and Cash Equivalents	1	0	0	0
Other Current Assets	4	57
Total Current Assets	5	57
Equity Investments in Affiliates	8,662	8,663
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	5	7
Total Assets	8,672	8,727
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	0	0
Accounts Payable and Other Current Liabilities	43	312
Total Current Liabilities	43	312
Long-term Debt	0	0
Intercompany Payables, Net	1,666	243
Other Long-term Liabilities	5	10
Total Liabilities	1,714	565
Weatherford Shareholders’ Equity	6,958	8,162
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	8,672	8,727
Weatherford Bermuda [Member]
Current Assets
Cash and Cash Equivalents	0	0	0	0
Other Current Assets	12	5
Total Current Assets	12	5
Equity Investments in Affiliates	10,490	11,742
Equity Held in Parent		0
Intercompany Receivables, Net	0	0
Other Assets	35	41
Total Assets	10,537	11,788
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	618	1,445
Accounts Payable and Other Current Liabilities	256	129
Total Current Liabilities	874	1,574
Long-term Debt	5,749	5,891
Intercompany Payables, Net	6,202	6,755
Other Long-term Liabilities	82	97
Total Liabilities	12,907	14,317
Weatherford Shareholders’ Equity	(2,370)	(2,529)
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	10,537	11,788
Guarantor Subsidiaries, Weatherford Delaware [Member]
Current Assets
Cash and Cash Equivalents	22	0	0	0
Other Current Assets	544	415
Total Current Assets	566	415
Equity Investments in Affiliates	9,730	8,065
Equity Held in Parent		10
Intercompany Receivables, Net	0	0
Other Assets	16	17
Total Assets	10,312	8,507
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	6	23
Accounts Payable and Other Current Liabilities	0	0
Total Current Liabilities	6	23
Long-term Debt	911	986
Intercompany Payables, Net	2,622	306
Other Long-term Liabilities	5	2
Total Liabilities	3,544	1,317
Weatherford Shareholders’ Equity	6,768	7,190
Noncontrolling Interests	0	0
Total Liabilities and Shareholders’ Equity	10,312	8,507
Other Subsidiaries [Member]
Current Assets
Cash and Cash Equivalents	451	435	$ 300	$ 371
Other Current Assets	7,524	9,430
Total Current Assets	7,975	9,865
Equity Investments in Affiliates	3,974	6,466
Equity Held in Parent		27
Intercompany Receivables, Net	10,490	7,304
Other Assets	10,889	11,978
Total Assets	33,328	35,640
Current Liabilities
Short-term Borrowings and Current Portion of Long-Term Debt	103	185
Accounts Payable and Other Current Liabilities	3,615	4,071
Total Current Liabilities	3,718	4,256
Long-term Debt	137	184
Intercompany Payables, Net	0	0
Other Long-term Liabilities	939	847
Total Liabilities	4,794	5,287
Weatherford Shareholders’ Equity	28,459	30,312
Noncontrolling Interests	75	41
Total Liabilities and Shareholders’ Equity	$ 33,328	$ 35,640

Consolidating Financial Statements (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	$ (539)	$ (314)	$ (750)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	0	0	0
Equity in (Earnings) Loss of Affiliates	0	0	0
Deferred Income Tax Benefit	(66)	(33)	(13)
Other Adjustments	1,568	1,576	1,984
Net Cash Provided (Used) by Operating Activities	963	1,229	1,221
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	(1,450)	(1,575)	(2,177)
Capital Expenditures for Property, Plant and Equipment	18	(8)	(165)
Acquisition of Intellectual Property	(5)	(9)	(17)
Purchase of Equity Investment in Unconsolidated Affiliates	(3)	0	(8)
Proceeds from Sale of Assets and Businesses, Net	1,770	488	61
Capital Contribution to Subsidiary		0	0
Net Cash Provided (Used) by Investing Activities	330	(1,104)	(2,306)
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	(924)	612	(13)
Borrowings (Repayments) Long-term Debt, Net	(259)	(600)	1,003
Borrowings (Repayments) Between Subsidiaries, Net	0	0	0
Proceeds from Capital Contributions	22	0	0
Other, Net	(19)	(6)	22
Net Cash Provided (Used) by Financing Activities	(1,180)	6	1,012
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(74)	4	2
Net Increase in Cash and Cash Equivalents	39	135	(71)
Cash and Cash Equivalents at Beginning of Year	435	300	371
Cash and Cash Equivalents at End of Year	474	435	300
Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	2,325	(249)	1,484
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	(1,876)	0	0
Equity in (Earnings) Loss of Affiliates	(449)	249	(1,484)
Deferred Income Tax Benefit	0	0	0
Other Adjustments	0	0	0
Net Cash Provided (Used) by Operating Activities	0	0	0
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	0	0	0
Capital Expenditures for Property, Plant and Equipment	0	0	0
Acquisition of Intellectual Property	0	0	0
Purchase of Equity Investment in Unconsolidated Affiliates	0	0	0
Proceeds from Sale of Assets and Businesses, Net	0	0	0
Capital Contribution to Subsidiary		1,181	115
Net Cash Provided (Used) by Investing Activities	0	1,181	115
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	0	0	0
Borrowings (Repayments) Long-term Debt, Net	0	0	0
Borrowings (Repayments) Between Subsidiaries, Net	0	0	0
Proceeds from Capital Contributions	0	(1,181)	(115)
Other, Net	0	0	0
Net Cash Provided (Used) by Financing Activities	0	(1,181)	(115)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0	0
Net Increase in Cash and Cash Equivalents	0	0	0
Cash and Cash Equivalents at Beginning of Year	0	0	0
Cash and Cash Equivalents at End of Year	0	0	0
Weatherford Switzerland [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	(584)	(345)	(778)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	99	53	28
Equity in (Earnings) Loss of Affiliates	424	242	689
Deferred Income Tax Benefit	0	0	0
Other Adjustments	23	(48)	50
Net Cash Provided (Used) by Operating Activities	(38)	(98)	(11)
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	0	0	0
Capital Expenditures for Property, Plant and Equipment	0	0	(30)
Acquisition of Intellectual Property	0	0	0
Purchase of Equity Investment in Unconsolidated Affiliates	0	0	0
Proceeds from Sale of Assets and Businesses, Net	0	0	0
Capital Contribution to Subsidiary		0	(30)
Net Cash Provided (Used) by Investing Activities	0	0	(60)
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	0	0	0
Borrowings (Repayments) Long-term Debt, Net	0	0	0
Borrowings (Repayments) Between Subsidiaries, Net	39	100	71
Proceeds from Capital Contributions	0	0	0
Other, Net	0	(2)	0
Net Cash Provided (Used) by Financing Activities	39	98	71
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0	0
Net Increase in Cash and Cash Equivalents	1	0	0
Cash and Cash Equivalents at Beginning of Year	0	0	0
Cash and Cash Equivalents at End of Year	1	0	0
Weatherford Bermuda [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	6,441	(521)	(1,197)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	(7,291)	(49)	(53)
Equity in (Earnings) Loss of Affiliates	430	(30)	701
Deferred Income Tax Benefit	0	0	0
Other Adjustments	(180)	748	35
Net Cash Provided (Used) by Operating Activities	(600)	148	(514)
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	0	0	0
Capital Expenditures for Property, Plant and Equipment	0	0	0
Acquisition of Intellectual Property	0	0	0
Purchase of Equity Investment in Unconsolidated Affiliates	0	0	0
Proceeds from Sale of Assets and Businesses, Net	0	0	0
Capital Contribution to Subsidiary		(1,181)	(85)
Net Cash Provided (Used) by Investing Activities	0	(1,181)	(85)
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	(827)	550	(108)
Borrowings (Repayments) Long-term Debt, Net	(153)	(544)	1,295
Borrowings (Repayments) Between Subsidiaries, Net	1,580	1,027	(588)
Proceeds from Capital Contributions	0	0	0
Other, Net	0	0	0
Net Cash Provided (Used) by Financing Activities	600	1,033	599
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0	0
Net Increase in Cash and Cash Equivalents	0	0	0
Cash and Cash Equivalents at Beginning of Year	0	0	0
Cash and Cash Equivalents at End of Year	0	0	0
Guarantor Subsidiaries, Weatherford Delaware [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	215	203	(294)
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	266	337	233
Equity in (Earnings) Loss of Affiliates	(407)	(461)	94
Deferred Income Tax Benefit	(25)	28	10
Other Adjustments	(42)	470	472
Net Cash Provided (Used) by Operating Activities	7	577	515
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	0	0	0
Capital Expenditures for Property, Plant and Equipment	0	0	0
Acquisition of Intellectual Property	0	0	0
Purchase of Equity Investment in Unconsolidated Affiliates	0	0	0
Proceeds from Sale of Assets and Businesses, Net	0	0	0
Capital Contribution to Subsidiary		0	(118)
Net Cash Provided (Used) by Investing Activities	0	0	(118)
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	0	(4)	0
Borrowings (Repayments) Long-term Debt, Net	(92)	(30)	(296)
Borrowings (Repayments) Between Subsidiaries, Net	107	(565)	(101)
Proceeds from Capital Contributions	0	0	0
Other, Net	0	22	0
Net Cash Provided (Used) by Financing Activities	15	(577)	(397)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	0	0
Net Increase in Cash and Cash Equivalents	22	0	0
Cash and Cash Equivalents at Beginning of Year	0	0	0
Cash and Cash Equivalents at End of Year	22	0	0
Other Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Loss	(8,936)	598	35
Cash Flows from Operating Activities:
Charges from Parent or Subsidiary	8,802	(341)	(208)
Equity in (Earnings) Loss of Affiliates	2	0	0
Deferred Income Tax Benefit	(41)	(61)	(23)
Other Adjustments	1,767	406	1,427
Net Cash Provided (Used) by Operating Activities	1,594	602	1,231
Cash Flows from Investing Activities:
Acquisitions of Businesses, Net of Cash Acquired	(1,450)	(1,575)	(2,177)
Capital Expenditures for Property, Plant and Equipment	18	(8)	(135)
Acquisition of Intellectual Property	(5)	(9)	(17)
Purchase of Equity Investment in Unconsolidated Affiliates	(3)	0	(8)
Proceeds from Sale of Assets and Businesses, Net	1,770	488	61
Capital Contribution to Subsidiary		0	118
Net Cash Provided (Used) by Investing Activities	330	(1,104)	(2,158)
Cash Flows From Financing Activities:
Borrowings (Repayments) of Short-term Debt, Net	(97)	66	95
Borrowings (Repayments) Long-term Debt, Net	(14)	(26)	4
Borrowings (Repayments) Between Subsidiaries, Net	(1,726)	(562)	618
Proceeds from Capital Contributions	22	1,181	115
Other, Net	(19)	(26)	22
Net Cash Provided (Used) by Financing Activities	(1,834)	633	854
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(74)	4	2
Net Increase in Cash and Cash Equivalents	16	135	(71)
Cash and Cash Equivalents at Beginning of Year	435	300	371
Cash and Cash Equivalents at End of Year	$ 451	$ 435	$ 300

Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Selected Quarterly Financial Information [Abstract]

$ 3,727

$ 3,877

$ 3,711

$ 3,596

$ 3,738

$ 3,820

$ 3,868

$ 3,837

$ 14,911

$ 15,263

$ 15,215

Gross profit

819

992

882

757

604

784

742

831

3,450

2,961

Basic Earnings (Loss) Per Share (in dollars per share)

$ (475)

^[1],[2]

$ 77

^[2],[3]

$ (145)

^[2],[4]

$ (41)

^[2],[5]

$ (271)

^[6],[7]

$ 22

$ (118)

^[6],[8]

$ 22

^[6],[9]

$ (584)

$ (345)

$ (778)

$ (0.61)

$ 0.10

$ (0.19)

$ (0.05)

$ (0.35)

$ 0.03

$ (0.15)

$ 0.03

$ (0.75)

$ (0.45)

$ (1.02)

Diluted Earnings (Loss) Per Share (in dollars per share)

$ (0.61)

$ 0.10

$ (0.19)

$ (0.05)

$ (0.35)

$ 0.03

$ (0.15)

$ 0.03

$ (0.75)

$ (0.45)

$ (1.02)

[1]	Includes a long-lived asset impairment charge of $352 million, a goodwill impairment charge of $40 million, a $245 million charge related to adopting the SICAD II exchange rate, a gain of $311 million primarily related to the sale of our engineered chemistry and Integrity drilling fluids businesses and the disposal of all of our shares in Proserv. This also includes restructuring charges of $58 million associated with our 2015 plan.
[2]	Includes estimated project losses of $26 million, $2 million, $10 million and $34 million for the first, second, third and fourth quarter of 2014, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[3]	Includes restructuring charges of $154 million and a gain of $38 million primarily related to the sale of our pipeline and specialty services business and land drilling and workover rigs in Russia and Venezuela.
[4]	Includes restructuring charges of $59 million, and long-lived assets and goodwill impairment charges of $143 million and $125 million, respectively.
[5]	Includes restructuring charges of $70 million.
[6]	Includes estimated project gain of $7 million for the first quarter, estimated project loss of $6 million, $85 million and $148 million for the second, third and fourth quarter of 2013, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[7]	Includes our recognition of a $58 million loss upon settlement of $127 million in outstanding receivables due from PDVSA.
[8]	Includes a $153 million accrual related to the U.S. government investigations.
[9]	Effective February 13, 2013, the Venezuelan government devalued its currency and the official exchange rate moved from 4.30 per dollar to 6.30 per dollar for all goods and services. We recognized a charge of approximately $100 million for the remeasurement of our net monetary assets denominated in the Venezuelan bolivar at the date of the devaluation.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Quarterly Financial Data (Unaudited) (Narrative) (Details)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

USD ($)

Sep. 30, 2014

USD ($)

Jun. 30, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Sep. 30, 2013

USD ($)

Jun. 30, 2013

USD ($)

Mar. 31, 2013

USD ($)

Jun. 30, 2012

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Feb. 13, 2013

Bs. / $

Feb. 12, 2013

Bs. / $

Gain (Loss) on Disposition of Assets

$ 58

$ 154

$ 59

$ 70

$ 331

$ 0

Asset Impairment Charges

(40)

(143)

349

(6)

Loss contingency accrual, provision

505

523

^[1]

298

153

100

Increase (decrease) in accounts receivable

(78)

705

Goodwill, Impairment Loss

(125)

589

Impairment of equity investments

$ 204

Gain (loss) on sale of business

311

349

Venezuelan Bolivar [Member]

Amount Recognized in Income Due to Inflationary Accounting, Net of Tax

(245)

(252)

(94)

Foreign Currency Exchange Rate, Translation | Bs. / $

6.30

4.30

Currency devaluation expense

$ 100

245

100

Iraq [Member]

Estimated loss on long term construction contract

Gain on Project

$ (7)

Loss on contracts

(34)

$ (10)

$ (2)

$ (26)

$ 148

$ 85

$ 6

232

100

$ 379

$ 307

$ 379

307

Petroleos de Venezuela, S.A. [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]

Gain (loss) on sale of bonds

(58)

Increase (decrease) in accounts receivable

$ (127)

Subsea Controls Business [Member]

Gain (loss) on sale of business

$ 28

[1]

Quarterly Financial Data (Unaudited) (Change in Accounting Estimates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in Accounting Estimate [Line Items]
Inventory write-down	$ 113	$ 62	$ 53
Excessive Quantities and Obsolescence [Member]
Change in Accounting Estimate [Line Items]
Inventory write-down		$ 62
Guar Inventory [Member] \| Lower of Cost or Market [Member]
Change in Accounting Estimate [Line Items]
Inventory write-down			$ 30

Quarterly Financial Data (Unaudited) (Adjustments) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Increase (decrease) in gross profit

$ 819

$ 992

$ 882

$ 757

$ 604

$ 784

$ 742

$ 831

$ 3,450

$ 2,961

(Increase) decrease net income (loss) attributable to Weatherford

$ (475)

^[1],[2]

$ 77

^[2],[3]

$ (145)

^[2],[4]

$ (41)

^[2],[5]

$ (271)

^[6],[7]

$ 22

$ (118)

^[6],[8]

$ 22

^[6],[9]

$ (584)

$ (345)

$ (778)

[1]	Includes a long-lived asset impairment charge of $352 million, a goodwill impairment charge of $40 million, a $245 million charge related to adopting the SICAD II exchange rate, a gain of $311 million primarily related to the sale of our engineered chemistry and Integrity drilling fluids businesses and the disposal of all of our shares in Proserv. This also includes restructuring charges of $58 million associated with our 2015 plan.
[2]	Includes estimated project losses of $26 million, $2 million, $10 million and $34 million for the first, second, third and fourth quarter of 2014, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[3]	Includes restructuring charges of $154 million and a gain of $38 million primarily related to the sale of our pipeline and specialty services business and land drilling and workover rigs in Russia and Venezuela.
[4]	Includes restructuring charges of $59 million, and long-lived assets and goodwill impairment charges of $143 million and $125 million, respectively.
[5]	Includes restructuring charges of $70 million.
[6]	Includes estimated project gain of $7 million for the first quarter, estimated project loss of $6 million, $85 million and $148 million for the second, third and fourth quarter of 2013, respectively. These charges were related to our long-term early production facility construction contracts in Iraq accounted for under the percentage of completion method.
[7]	Includes our recognition of a $58 million loss upon settlement of $127 million in outstanding receivables due from PDVSA.
[8]	Includes a $153 million accrual related to the U.S. government investigations.
[9]	Effective February 13, 2013, the Venezuelan government devalued its currency and the official exchange rate moved from 4.30 per dollar to 6.30 per dollar for all goods and services. We recognized a charge of approximately $100 million for the remeasurement of our net monetary assets denominated in the Venezuelan bolivar at the date of the devaluation.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Movement in Valuation Allowances and Reserves [Roll Forward]

Schedule II - Valuation and Qualifying Accounts and Allowances (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Allowance for uncollectible accounts receivable [Member]

$ 58

$ 154

$ 59

$ 70

$ 331

$ 0

Movement in Valuation Allowances and Reserves [Roll Forward]

of Period

106

Expense (a)

^[1]

102

Additions

(4)

(12)

(8)

Reductions(b)

(26)

^[2]

(68)

(21)

Period

108

106