|
Document and Entity Information
|
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2015
|
Jul. 13, 2015
|
|
| Document and Entity Information [Abstract] | ||
| Entity Registrant Name | Weatherford International plc | |
| Entity Central Index Key | 0001603923 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 775,296,080 | |
| Document Fiscal Year Focus | 2015 | |
| Document Fiscal Period Focus | Q2 | |
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Jun. 30, 2015 |
| X | ||||||||||
|
- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
|
| X | ||||||||||
|
- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
|
| X | ||||||||||
|
- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
|
| X | ||||||||||
|
- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
|
| X | ||||||||||
|
- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
| X | ||||||||||
|
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
|
| X | ||||||||||
|
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Foreign Currency Devaluation Loss, before Tax No definition available.
|
| X | ||||||||||
|
- Definition
Selling, General and Administrative Expense, Portion Attributable to Segments No definition available.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Statement of Comprehensive Income [Abstract] | ||||
| Net Loss | $ (483) | $ (133) | $ (590) | $ (165) |
| Other Comprehensive Income (Loss), Net of Tax: | ||||
| Currency Translation Adjustments | 115 | 166 | (230) | (36) |
| Defined Benefit Pension Activity | (1) | 0 | 21 | 0 |
| Other Comprehensive Income (Loss) | 114 | 166 | (209) | (36) |
| Comprehensive Income (Loss) | (369) | 33 | (799) | (201) |
| Comprehensive Income Attributable to Noncontrolling Interests | 6 | 12 | 17 | 21 |
| Comprehensive Income (Loss) Attributable to Weatherford | $ (375) | $ 21 | $ (816) | $ (222) |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)
In Millions, except Share data, unless otherwise specified |
Jun. 30, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
CHF
|
|---|---|---|---|
| Current Assets: | |||
| Allowance for Uncollectible Accounts | $ 121 | $ 108 | |
| Noncurrent Assets: | |||
| Accumulated Depreciation of Property, Plant and Equipment | 7,141 | 6,895 | |
| Accumulated Amortization of Other Intangible Assets | $ 765 | $ 733 | |
| Shareholders’ Equity: | |||
| Common Shares, Par Value (in USD and CHF per share, respectively) | $ 0.001 | 0.001 | |
| Common Shares, Authorized (in shares) | 1,356,000,000 | 1,356,000,000 | 1,356,000,000 |
| Common Shares, Conditionally Authorized (in shares) | 0 | 0 | 0 |
| Common Shares, Issued (in shares) | 775,000,000 | 774,000,000 | 774,000,000 |
| Common Stock, Outstanding (in shares) | 775,000,000 | 774,000,000 | 774,000,000 |
| Treasury Shares, at cost (in shares) | 0 | 0 | 0 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Common Shares, Shares, Conditionally Authorized No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Foreign Currency Devaluation Loss, before Tax No definition available.
|
| X | ||||||||||
|
- Definition
Loss recognized during the period that results from the write-down of goodwill and equity investments. Goodwill was deemed impaired after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. As part of the goodwill testing it was noted that the fair value attributable to certain equity investments was significantly below our book value for these investments and an other than temporary decline in fair value was recognized. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from Sale of Assets and Divestitures of Businesses No definition available.
|
|
Business Combinations and Divestitures
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Business Combinations [Abstract] | |
| Business Combinations | Business Combinations and Divestitures Acquisitions From time to time, we acquire assets and businesses we believe are important to our long-term strategy or dispose of assets and businesses that are no longer a strategic fit within our business. We did not complete any acquisitions or divestitures during the first six months ended June 30, 2015. 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 a $16 million gain, and we applied the consolidation method of accounting, recognizing $6 million of goodwill and $30 million of cash. In May 2012, we acquired a company that designs and produces well completion tools. Our purchase consideration included a contingent consideration arrangement valued at approximately $3 million at December 31, 2014. At June 30, 2015, the contingent consideration arrangement was valued at approximately $12 million, and is expected to be settled in 2016. Divestitures We completed the sale of our our pipeline and specialty services business in September 2014. As of December 31, 2014, we received consideration of $246 million, ($245 million, net of cash disposed) and recognized a gain of approximately $49 million resulting from this transaction. In early July 2014, we completed the sale of our land drilling and workover rig operations in Russia and Venezuela. As of December 31, 2014, we received cash consideration of $499 million ($486 million, net of cash disposed). As a result of our commitment to sell, we recognized a $143 million long-lived assets impairment loss and a $121 million goodwill impairment loss. Of the $121 million goodwill impairment, $95 million pertained to goodwill attributable to our divested land drilling and workover rig operations in Russia. See “Note 7 – Goodwill” regarding the impact of the 2014 goodwill impairment. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
General
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| General | General The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company”) are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments of a normal recurring nature which, in our opinion, are necessary to present fairly our Condensed Consolidated Balance Sheet at June 30, 2015 and December 31, 2014, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2015 and 2014, and Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2015 and 2014. When referring to “Weatherford” and using phrases such as “we,” “us,” and “our,” the intent is to refer to Weatherford International plc, a public limited company organized under the law of Ireland, and its subsidiaries as a whole or on a regional basis, depending on the context in which the statements are made. Although we believe the disclosures in these financial statements are adequate, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in this Form 10-Q pursuant to U.S. Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or market of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Change in Reportable Segments During the first quarter of 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments. We have recast prior periods to conform to the current business segment presentation. See “Note 15 – Segment Information” for additional information. 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. Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation. Foreign Exchange Related Charges – Devaluation and Other Inflationary Impacts A new Venezuelan currency exchange system, known as the “Marginal Currency System” (or “SIMADI”), opened for trading February 12, 2015, replacing Venezuela’s Supplementary Foreign Currency Administration System auction rate (“SICAD II”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange. In the first quarter of 2015, we began using the SIMADI rate and recognized remeasurement charges of $26 million and we will continue to monitor the impact on our financial statements of the evolving Venezuela exchange rate. At June 30, 2015 our net monetary asset position denominated in Venezuelan bolivar was approximately $7 million. In the second quarter of 2015, the Angolan kwanza devalued approximately 11% and we recognized foreign exchange related charges of $16 million. We will continue to monitor the impact on our financial statements of the evolving Angola exchange rate. At June 30, 2015 our net monetary asset position denominated in Angolan kwanza was approximately $124 million. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Restructuring Charges
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring Charges | Restructuring Charges 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”) included a workforce reduction and other cost reduction measures initiated across our geographic regions. In connection with the 2015 Plan, we recognized restructuring charges of $69 million and $110 million in the three and six months ended June 30, 2015, respectively. For the three and six months ended June 30, 2015, our restructuring charges include termination (severance) benefits of $19 million and $59 million, respectively, and other restructuring charges of $50 million and $51 million, respectively. Other restructuring charges for both the three and six months ended June 30, 2015 includes asset write-offs of $23 million related to Yemen due to the political disruption and $22 million in other regions. Other restructuring charges also include exit charges, contract termination costs, relocation and other associated costs. 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. The 2014 Plan resulted in restructuring charges of $32 million and $98 million related to termination (severance) benefits in the three and six months ended June 30, 2014, respectively. 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 2015 Plan and the 2014 Plan restructuring charges by segment for the three and six months ended June 30, 2015 and 2014.
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 both plans that will be paid pursuant to the respective arrangements and statutory requirements.
The following table presents the restructuring liability activity for the six months ended June 30, 2015.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Percentage of Completion Contracts
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Contractors [Abstract] | |
| Percentage of Completion Contracts | Percentage-of-Completion Contracts In the three and six months ended June 30, 2015, we recognized estimated project losses of $69 million and $27 million, respectively, related to our long-term early production facility construction contract in Iraq accounted for under the percentage-of-completion method. Total estimated losses on these projects were $406 million at June 30, 2015. As of June 30, 2015, our percentage-of-completion project estimates include $137 million of claims revenue and $21 million of back charges. Our costs in excess of billings as of June 30, 2015 were $129 million and are included in the “Other Current Assets” line on the balance sheet. We also have a variety of unapproved contract change orders or claims that are not included in our revenues as of June 30, 2015. 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. In the three and six months ended June 30, 2014, we recognized estimated project losses of $2 million and $28 million, respectively. Total estimated losses on these projects were $335 million at June 30, 2014. As of June 30, 2014, our percentage-of-completion project estimates include $21 million of claims revenue. No claims revenue was recognized during the three months ended June 30, 2014 and $28 million of claims revenue was recognized during the six months ended June 30, 2014. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Inventories, Net
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories, Net | Inventories, Net Inventories, net of reserves, by category were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Long-Lived Asset Impairments (Notes)
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Property, Plant and Equipment [Abstract] | |
| Long-Lived Asset Impairments | Long-lived Asset Impairments In the second quarter of 2015, the continued weakness in crude oil prices contributed to lower exploration and production spending and a decline in the utilization of our pressure pumping assets. The continued weakness in oil prices 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 these impairment indicators, we performed an analysis of our pressure pumping assets and recorded long-lived asset impairment charges of $124 million to adjust the assets to fair value in our North America Segment. See “Note 9 – Fair Value of Financial Instruments” for additional information regarding the fair value determination. We prepared an analysis to determine the fair value of our equity investments in less than majority owned entities. Upon completion of this valuation, we determined that the fair value attributable to an equity investment was significantly below its carrying value. We assessed this decline in value as other than temporary and recognized an impairment loss of $20 million during the second quarter of 2015. See “Note 9 – Fair Value of Financial Instruments” for additional information regarding the fair value determination. 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 our Russia operations. We considered the associated circumstances and determined that the fair values of our Russia and Latin America rig operations were below their carrying amounts. As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment charge. |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Goodwill
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | Goodwill We perform an impairment test for goodwill and indefinite-lived intangible assets annually as of October 1, or more frequently if indicators of potential impairment exist. Due to the change in our reporting segments (See “Note 15 – Segment Information”), we now report Land Drilling Rigs as a segment. The goodwill associated with the Land Drilling Rigs reporting unit was previously impaired in 2014. We recognized a goodwill impairment loss of $121 million in 2014 associated with the sale of our land drilling and workover rig operations in Russia and Venezuela. The changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2015 were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Short-term Borrowings and Current Portion of Long-term Debt
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term Borrowings and Current Portion of Long-term Debt | Short-term Borrowings and Current Portion of Long-term Debt
Revolving Credit Agreement We maintain a $2.25 billion unsecured, revolving credit agreement (the “Credit Agreement”). On June 30, 2015, we entered into an amendment to the Credit Agreement to extend the maturity date to July 13, 2017 and to make certain other changes. 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 June 30, 2015. At June 30, 2015, we had $1.3 billion available under the Credit Agreement, and there were $16 million in outstanding letters of credit in addition to the commercial paper and borrowings under the revolving credit facility. 364-Day Term Loan Facility On April 9, 2015, the maturity date, we repaid the remaining balance of $175 million on our $400 million, 364-day term loan facility. Other Short-Term Borrowings and Other Debt Activity We have short-term borrowings with various domestic and international institutions pursuant to uncommitted credit facilities. At June 30, 2015, we had $220 million in short-term borrowings under these arrangements, including $180 million borrowed under a credit agreement entered into in March 2014 that matures on March 20, 2016 (with respect to $150 million) and June 20, 2016 (with respect to the remaining $30 million), with a LIBOR-based weighted average interest rate of 1.73% as of June 30, 2015. In addition, we had $549 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 June 30, 2015. The current portion of long-term debt at June 30, 2015 is primarily related to our 5.5% senior notes maturing February 2016 and our capital leases. In the first three months of 2015, through a series of open market transactions, we repurchased certain of our 4.5% senior notes, 5.95% senior notes, 6.5% senior notes and 6.75% senior notes with a total book value of $160 million. We recognized a cumulative gain of approximately $12 million on these transactions. No repurchases were made during the second quarter of 2015. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Fair Value of Financial Instruments
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Fair Value of Financial Instruments | Fair Value of Financial Instruments, Assets and Equity Investments 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. Other than the derivative instruments discussed in “Note 10 – Derivative Instruments,” we had no other material assets or liabilities measured and recognized at fair value on a recurring basis at June 30, 2015 and December 31, 2014. 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 and is established based on observable inputs in less active markets. The fair value and carrying value of our senior notes were as follows:
Non-recurring Fair Value Measurements During the second quarter of 2015, long-lived pressure pumping assets and an equity investment were impaired and written down to their estimated fair values. The level 3 fair value of the long-lived assets was determined using a combination of the cost approach and the market approach, which used inputs that included replacement costs (unobservable), physical deterioration estimates (unobservable), and market sales data for comparable assets. The equity investment level 3 fair value was determined using an income based approach utilizing estimates of future cash flow, discount rate, long-term growth rate, and marketability discount, all of which were unobservable. During the second quarter of 2014, long-lived assets in the rig operations in Russia and Venezuela and goodwill for the Russia reporting unit were impaired and written down to their estimated fair values. The level 3 fair value of the long-lived assets in the rig operations was determined using the market approach that considered the estimated sales price of those businesses. The goodwill level 3 fair value was determined using a combination of the income and market approaches with observable inputs that consisted of earnings multiples and unobservable inputs that included estimates of future cash flows, discount rate, long-term growth rate, and control premiums. |
||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Derivative Instruments
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments | 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 using observable inputs other than quoted prices. 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. As of June 30, 2015, we had net unamortized gains of $28 million associated with interest rate swap terminations. These gains are being amortized over the remaining term of the originally hedged debt as a reduction in interest expense. Other Derivative Instruments We enter into foreign currency forward contracts and cross-currency swap contracts to hedge our exposure to fluctuations in various foreign currencies. At June 30, 2015 and December 31, 2014, we had outstanding foreign currency forward contracts with notional amounts aggregating $1.4 billion and $1.6 billion, 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 at maturity are calculated by reference to the notional amounts and by other terms of the derivative contracts, such as exchange rates. At December 31, 2014, to hedge our exposure to the Canadian dollar, we held cross-currency swaps between the U.S. dollar and the Canadian dollar with a notional amount of $168 million. We settled the cross-currency swap arrangements in the three months ended March 31, 2015 after recognizing a mark-to-market gain of $13 million in the first quarter of 2015. We collected $8 million in proceeds upon settlement. Our foreign currency forward contracts and cross-currency swaps were not designated as hedges, and the changes in fair value of the contracts are recorded each period in current earnings in the line captioned “Other, Net” on the accompanying Condensed 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 values of our cross-currency contracts are as follows:
The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Condensed Consolidated Statements of Operations was as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Income Taxes
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes We estimate our annual effective tax rate based on year-to-date operating results and our forecast of operating results for the remainder of the year, by jurisdiction, and apply this rate to the year-to-date operating results. If our actual results, by jurisdiction, differ from the forecasted operating results, our effective tax rate can change, affecting the tax expense for both successive interim results as well as the annual tax results. For both the three and six months ended June 30, 2015, we had a $132 million tax benefit on a loss before income taxes of $615 million and $722 million, respectively. Our results for the three months ended June 30, 2015 includes $112 million of litigation settlements, $69 million of project losses, $16 million of devaluation of the Angolan kwanza currency, $20 million of equity investment impairment and $69 million of restructuring charges with no significant tax benefit. Our results for the six months ended June 30, 2015 includes $112 million of litigation settlements, $27 million of project losses, $42 million of currency devaluation, $20 million of equity investment impairment and $110 million of restructuring charges with no significant tax benefit. We are continuously under tax examination in various jurisdictions. We cannot predict the timing or outcome regarding resolution of these tax examinations or if they will have a material impact on our financial statements. We continue to anticipate a possible reduction in the balance of uncertain tax positions by approximately $19 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations. For the three and six months ended June 30, 2014, we had a tax provision of $11 million and $38 million on a loss before income taxes of $122 million and $127 million, respectively. Our results for the three and six months ended June 30, 2014 include a $143 million impairment loss ($121 million, net of tax) to record the land drilling and workover rig operations in Russia and Venezuela at fair value. We also recorded a $125 million non-cash impairment charge to goodwill based on our analysis triggered by the planned sale of our land drilling and workover rig operations in Russia and Venezuela, which was non-deductible for income tax purposes. Our results for the six months ended June 30, 2014 were also impacted by discrete income before tax items, including restructuring charges and project losses of approximately $177 million, with no significant tax benefit. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Shareholders' Equity
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' Equity | Shareholders’ Equity The following summarizes our shareholders’ equity activity for the six months ended June 30, 2015 and 2014:
The following table presents the changes in our accumulated other comprehensive income (loss) by component for the six months ended June 30, 2015 and 2014:
The other comprehensive income before reclassifications from the defined benefit pension component of other comprehensive income relates to the conversion of one of our international pension plans from a defined benefit plan to a defined contribution plan. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Earnings per Share
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per Share | 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 and performance units. The following discloses basic and diluted weighted average shares outstanding:
Our basic and diluted weighted average shares outstanding for the periods presented are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the three and six months ended June 30, 2015 and 2014 exclude potential shares for stock options, restricted shares and performance units outstanding as we have net losses for that period and their inclusion would be anti-dilutive. The following table discloses the number of anti-dilutive shares excluded:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Share-Based Compensation
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | Share-Based Compensation We recognized the following employee share-based compensation expense during the three and six months ended June 30, 2015 and 2014:
During the six months ended June 30, 2015, we granted approximately 1.6 million performance units, which will vest with continued employment, if the Company meets certain market-based performance goals. The performance units have a weighted average grant date fair value of $10.45 per share based on the Monte Carlo simulation method. The assumptions used in the Monte Carlo simulation included a risk-free rate of 0.51%, volatility of 46.1% and a zero dividend yield. As of June 30, 2015, there was $20 million of unrecognized compensation related to our performance units. This cost is expected to be recognized over a weighted average period of 2 years. During the six months ended June 30, 2015, we also granted 6.3 million restricted shares at a weighted average grant date fair value of $12.90 per share. As of June 30, 2015, there was $120 million of unrecognized compensation related to our unvested restricted share grants. This cost is expected to be recognized over a weighted average period of 2 years. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Segment Information
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | Segment Information In the first quarter of 2015, we changed our business structure to better align with management’s current view and future growth objectives. This involved separating our Land Drilling Rigs business into a reportable segment resulting in a total of five reportable segments which are North America, MENA/Asia Pacific, Europe/SSA/Russia, Latin America and Land Drilling Rigs. The operational performance of our segments is reviewed and managed primarily on a geographic basis, and we report the regional segments as separate, distinct reporting segments. In addition, the operations we intend to divest, in the case of our Land Drilling Rigs business, is reviewed and managed apart from our regional segments. Our corporate and other expenses that do not individually meet the criteria for segment reporting continue to be reported separately as Corporate and Research and Development. Each business reflects a reportable segment led by separate business segment management that reports directly or indirectly to our chief operating decision maker (“CODM”). Our CODM assesses performance and allocates resources on the basis of the five reportable segments. We have revised our business segment reporting to reflect our current management approach and recast prior periods to conform to the current business segment presentation. 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 as presented in our Form 10-K.
Certain leased equipment of our Land Drilling Rigs and North America pressure pumping business includes contractual residual value guarantees at June 30, 2015. We maintain a liability of $80 million related to these guarantees, of which $46 million is recorded as “Other Current Liabilities” and $34 million as “Other Non-Current Liabilities” on our Condensed Consolidated Balance Sheets. Certain of our supply agreements contain minimum purchase commitments and we maintain a liability at June 30, 2015, of $63 million, of which $50 million is recorded as “Other Current Liabilities” and $13 million as “Other Non-Current Liabilities” on our Condensed Consolidated Balance Sheets.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Disputes, Litigation and Contingencies
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| 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 was granted May 15, 2015 and an appeal was filed on June 15, 2015. We cannot reliably 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 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 was deemed probable, and we maintained an accrual of the estimated probable loss. As a result of ongoing negotiations in the second quarter of 2015, a settlement agreement was reached on June 30, 2015, subject to notice to the class, approval by the U.S. District Court for the Southern District of New York and other conditions. The settlement agreement requires payments totaling $120 million in exchange for the dismissal with prejudice of the litigation and the unconditional release of all claims, of which $95 million was accrued during the second quarter of 2015. 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 June 2014, the parties signed a term sheet resolving the action for an agreed upon set of revised corporate procedures, no monetary payment by the defendants, and an award of attorneys’ fees for the plantiff’s counsel. In March 2015, the court approved notice to the class of the proposed settlement and set the final hearing for June 24, 2015. On June 24, 2015, the court approved the settlement. We maintain an immaterial accrual for the attorney’s fees included in the settlement, which was subsequently paid in July 2015. 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. 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. 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 which we do not believe a negative outcome is probable or for which we can only estimate a range of liability. It is possible, however, that an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, that would result in 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. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
New Accounting Pronouncements
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
| New Accounting Pronouncements | New Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance that requires inventory not measured using either the last in, first out (LIFO) or the retail inventory method to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. The new standard will be effective January 1, 2017 and will be applied prospectively. Early adoption is permitted. We are evaluating the impact that this new guidance will have on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to accounting for fees paid in a cloud computing arrangement. The new standard provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are evaluating the impact, if any, of adopting this new accounting guidance on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to presentation of debt issue costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note disclosures. In February 2015, the FASB issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note 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. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non-public entities reporting under U.S. GAAP and on July 9, 2015, the FASB approved the one year deferral. The effective date of the amended standard will begin in the first quarter of 2018 and the FASB plans to submit its amendment to defer the effective date by the end of the third quarter 2015. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements and related Note disclosures. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Condensed Consolidating Financial Statements
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Financial Statements | Condensed Consolidating Financial Statements Weatherford International plc (“Weatherford Ireland”), a public limited company organized under the laws of Ireland, a Swiss tax resident, and the ultimate parent of the Weatherford group, guarantees the obligations of our subsidiaries – Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”), and Weatherford International, LLC, a Delaware limited liability company (“Weatherford Delaware”), including the notes and credit facilities listed below. The following obligations of Weatherford Delaware were guaranteed by Weatherford Bermuda at June 30, 2015 and December 31, 2014: (1) 6.35% senior notes and (2) 6.80% senior notes. The following obligations of Weatherford Bermuda were guaranteed by Weatherford Delaware at June 30, 2015 and December 31, 2014: (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. At December 31, 2014, we had a 364-day term loan facility which was an obligation of Weatherford Bermuda guaranteed by Weatherford Delaware. As a result of certain 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) Three Months Ended June 30, 2015 (Unaudited)
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2014 (Unaudited)
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2015 (Unaudited)
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2014 (Unaudited)
Condensed Consolidating Balance Sheet June 30, 2015 (Unaudited)
Condensed Consolidating Balance Sheet December 31, 2014
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 (Unaudited)
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2014 (Unaudited)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
General (Policies)
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Accounting | The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the “Company”) are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments of a normal recurring nature which, in our opinion, are necessary to present fairly our Condensed Consolidated Balance Sheet at June 30, 2015 and December 31, 2014, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2015 and 2014, and Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2015 and 2014. When referring to “Weatherford” and using phrases such as “we,” “us,” and “our,” the intent is to refer to Weatherford International plc, a public limited company organized under the law of Ireland, and its subsidiaries as a whole or on a regional basis, depending on the context in which the statements are made. Although we believe the disclosures in these financial statements are adequate, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in this Form 10-Q pursuant to U.S. Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to uncollectible accounts receivable, lower of cost or market of inventories, equity investments, intangible assets and goodwill, property, plant and equipment, income taxes, percentage-of-completion accounting for long-term contracts, self-insurance, foreign currency exchange rates, pension and post-retirement benefit plans, contingencies and share-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. |
| Principles of Consolidation | 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. Investments in affiliates in which we exercise significant influence over operating and financial policies are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation. |
| New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance that requires inventory not measured using either the last in, first out (LIFO) or the retail inventory method to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. The new standard will be effective January 1, 2017 and will be applied prospectively. Early adoption is permitted. We are evaluating the impact that this new guidance will have on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to accounting for fees paid in a cloud computing arrangement. The new standard provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are evaluating the impact, if any, of adopting this new accounting guidance on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to presentation of debt issue costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note disclosures. In February 2015, the FASB issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note 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. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non-public entities reporting under U.S. GAAP and on July 9, 2015, the FASB approved the one year deferral. The effective date of the amended standard will begin in the first quarter of 2018 and the FASB plans to submit its amendment to defer the effective date by the end of the third quarter 2015. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements and related Note disclosures. |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
New Accounting Pronouncements New Accounting Pronouncements (Policies)
|
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
| Accounting Policies [Abstract] | |
| New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance that requires inventory not measured using either the last in, first out (LIFO) or the retail inventory method to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. The new standard will be effective January 1, 2017 and will be applied prospectively. Early adoption is permitted. We are evaluating the impact that this new guidance will have on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to accounting for fees paid in a cloud computing arrangement. The new standard provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are evaluating the impact, if any, of adopting this new accounting guidance on our Consolidated Financial Statements and related Note disclosures. In April 2015, the FASB issued new guidance related to presentation of debt issue costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note disclosures. In February 2015, the FASB issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our Consolidated Financial Statements and related Note 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. This guidance is effective beginning with the first quarter of 2017 and early adoption is not permitted. In April 2015, the FASB proposed a one year deferral of the effective date of the new revenue standard for public and non-public entities reporting under U.S. GAAP and on July 9, 2015, the FASB approved the one year deferral. The effective date of the amended standard will begin in the first quarter of 2018 and the FASB plans to submit its amendment to defer the effective date by the end of the third quarter 2015. We are currently evaluating the impact the adoption of this guidance would have on our Consolidated Financial Statements and related Note disclosures. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Restructuring Charges (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring Charges | The following tables present the components of the 2015 Plan and the 2014 Plan restructuring charges by segment for the three and six months ended June 30, 2015 and 2014.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring Reserve by Type of Cost | 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 both plans that will be paid pursuant to the respective arrangements and statutory requirements.
The following table presents the restructuring liability activity for the six months ended June 30, 2015.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Inventories, Net (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Inventory | Inventories, net of reserves, by category were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Goodwill (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | The changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2015 were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Short-term Borrowings and Current Portion of Long-term Debt (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Short-Term Borrowings |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Fair Value of Financial Instruments (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Fair Value and Carrying Value of Long-Term Debt | The fair value and carrying value of our senior notes were as follows:
|
||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Derivative Instruments (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Derivatives Instruments in Statements of Financial Performance and Financial Position |
The effect of derivative instruments designated as fair value hedges and those not designated as hedges on the Condensed Consolidated Statements of Operations was as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Shareholders' Equity (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Stockholders Equity | The following summarizes our shareholders’ equity activity for the six months ended June 30, 2015 and 2014:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in our accumulated other comprehensive income (loss) by component for the six months ended June 30, 2015 and 2014:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Earnings per Share (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Weighted Average Number of Shares | The following discloses basic and diluted weighted average shares outstanding:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table discloses the number of anti-dilutive shares excluded:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Share-Based Compensation (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | We recognized the following employee share-based compensation expense during the three and six months ended June 30, 2015 and 2014:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Segment Information (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial information by segment | 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 as presented in our Form 10-K.
Certain leased equipment of our Land Drilling Rigs and North America pressure pumping business includes contractual residual value guarantees at June 30, 2015. We maintain a liability of $80 million related to these guarantees, of which $46 million is recorded as “Other Current Liabilities” and $34 million as “Other Non-Current Liabilities” on our Condensed Consolidated Balance Sheets. Certain of our supply agreements contain minimum purchase commitments and we maintain a liability at June 30, 2015, of $63 million, of which $50 million is recorded as “Other Current Liabilities” and $13 million as “Other Non-Current Liabilities” on our Condensed Consolidated Balance Sheets.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Condensed Consolidating Financial Statements (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2015 (Unaudited)
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2014 (Unaudited)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet June 30, 2015 (Unaudited)
Condensed Consolidating Balance Sheet December 31, 2014
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 (Unaudited)
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2014 (Unaudited)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Business Combinations (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Apr. 30, 2014
Joint Venture in China
|
Jun. 30, 2015
Company that Designs and Produces Well Completion Tools
|
Dec. 31, 2014
Company that Designs and Produces Well Completion Tools
|
Dec. 31, 2014
Pipeline and Specialty Services Business
|
Dec. 31, 2014
Disposal Group, Held-for-sale, Not Discontinued Operations
|
Jun. 30, 2014
Land Drilling and Workover Rig Operations
|
Jul. 31, 2014
Land Drilling and Workover Rig Operations
|
|
| Business Acquisition [Line Items] | |||||||||||
| Business Acquisition, Percentage of Voting Interests Acquired | 30.00% | ||||||||||
| Payments to Acquire Businesses, Net of Cash Acquired | $ 0 | $ (17) | $ 13 | ||||||||
| Equity Method Investment, Ownership Percentage | 45.00% | ||||||||||
| Noncontrolling Interest, Ownership Percentage by Parent | 75.00% | ||||||||||
| Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 16 | ||||||||||
| Goodwill, Acquired During Period | 6 | ||||||||||
| Cash Acquired from Acquisition | 30 | ||||||||||
| Contingent consideration arrangement | 12 | 3 | |||||||||
| Disposal Group, Including Discontinued Operation, Consideration | 246 | 499 | |||||||||
| Disposal Group, Including Discontinued Operation, Expenses to Dispose Group | 245 | 486 | |||||||||
| Gain on Sale of Businesses | (5) | 0 | (2) | 0 | 49 | ||||||
| Long-Lived Assets Impairment and Other Related Charges | 181 | 143 | 191 | 143 | 143 | ||||||
| Goodwill and Equity Investment Impairment | 20 | 125 | 20 | 125 | 121 | ||||||
| Goodwill Impairment (classified as Assets Held For Sale) | $ 95 | ||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Expenses to Dispose Group No definition available.
|
| X | ||||||||||
|
- Definition
Goodwill Impairment (classified as Assets Held For Sale) No definition available.
|
|
General Devaluation of Venezuelan Bolivar (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Mar. 31, 2015
unit
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Number of Reportable Segments | 5 | ||||
| Foreign Exchange Related Charges | $ 16 | $ 0 | $ 42 | $ 0 | |
|
VENEZUELA
|
|||||
| Net Monetary Asset Position | 7 | 7 | |||
|
ANGOLA [Member]
|
|||||
| Net Monetary Asset Position | 124 | 124 | |||
|
Angola, Kwanza
|
|||||
| Foreign Exchange Related Charges | 16 | ||||
| Foreign Currency Devaluation, Percent | 11.00% | ||||
|
Venezuelan bolívar fuerte
|
|||||
| Foreign Exchange Related Charges | $ 26 | ||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Foreign Currency Devaluation Loss, before Tax No definition available.
|
| X | ||||||||||
|
- Definition
Foreign Currency Devaluation, Percent No definition available.
|
| X | ||||||||||
|
- Definition
Net Monetary Asset Position No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Restructuring Charges (Restructuring Liability) (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
|
Severance and Other Restructuring Liabilities [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at beginning of period | $ 79 |
| Restructuring Charges | 65 |
| Cash Payments | (104) |
| Other | (3) |
| Accrued balance at end of period | 37 |
|
Severance and Other Restructuring Liabilities [Member] | Corporate and Research and Development [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 5 |
|
Severance and Other Restructuring Liabilities [Member] | North America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 10 |
|
Severance and Other Restructuring Liabilities [Member] | MENA/ Asia Pacific [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 11 |
|
Severance and Other Restructuring Liabilities [Member] | Europe/ SSA/ Russia [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 10 |
|
Severance and Other Restructuring Liabilities [Member] | Latin America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 1 |
|
Severance and Other Restructuring Liabilities [Member] | Core Regional Segments [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 32 |
|
Severance and Other Restructuring Liabilities [Member] | Drilling Rigs [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Employee Severance [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at beginning of period | 53 |
| Restructuring Charges | 59 |
| Cash Payments | (93) |
| Other | (2) |
| Accrued balance at end of period | 17 |
|
2015 Plan | Employee Severance [Member] | Corporate and Research and Development [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Employee Severance [Member] | North America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 6 |
|
2015 Plan | Employee Severance [Member] | MENA/ Asia Pacific [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 5 |
|
2015 Plan | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 5 |
|
2015 Plan | Employee Severance [Member] | Latin America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 1 |
|
2015 Plan | Employee Severance [Member] | Core Regional Segments [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 17 |
|
2015 Plan | Employee Severance [Member] | Drilling Rigs [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Other Restructuring [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at beginning of period | 0 |
| Restructuring Charges | 6 |
| Cash Payments | (2) |
| Other | 3 |
| Accrued balance at end of period | 7 |
|
2015 Plan | Other Restructuring [Member] | Corporate and Research and Development [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Other Restructuring [Member] | North America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 4 |
|
2015 Plan | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 3 |
|
2015 Plan | Other Restructuring [Member] | Latin America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2015 Plan | Other Restructuring [Member] | Core Regional Segments [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 7 |
|
2015 Plan | Other Restructuring [Member] | Drilling Rigs [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Employee Severance [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at beginning of period | 14 |
| Restructuring Charges | 0 |
| Cash Payments | (6) |
| Other | (2) |
| Accrued balance at end of period | 6 |
|
2014 Plan | Employee Severance [Member] | Corporate and Research and Development [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 5 |
|
2014 Plan | Employee Severance [Member] | North America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Employee Severance [Member] | MENA/ Asia Pacific [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 1 |
|
2014 Plan | Employee Severance [Member] | Europe/ SSA/ Russia [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Employee Severance [Member] | Latin America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Employee Severance [Member] | Core Regional Segments [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 1 |
|
2014 Plan | Employee Severance [Member] | Drilling Rigs [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Other Restructuring [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at beginning of period | 12 |
| Restructuring Charges | 0 |
| Cash Payments | (3) |
| Other | (2) |
| Accrued balance at end of period | 7 |
|
2014 Plan | Other Restructuring [Member] | Corporate and Research and Development [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Other Restructuring [Member] | North America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Other Restructuring [Member] | MENA/ Asia Pacific [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 5 |
|
2014 Plan | Other Restructuring [Member] | Europe/ SSA/ Russia [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 2 |
|
2014 Plan | Other Restructuring [Member] | Latin America [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 0 |
|
2014 Plan | Other Restructuring [Member] | Core Regional Segments [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | 7 |
|
2014 Plan | Other Restructuring [Member] | Drilling Rigs [Member]
|
|
| Restructuring Reserve [Roll Forward] | |
| Accrued balance at end of period | $ 0 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Percentage of Completion Contracts (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items] | ||||
| Costs in Excess of Billings, Current | $ 129 | $ 129 | ||
|
IRAQ
|
||||
| Billed and Unbilled Contract Claims Subject to Uncertainty [Line Items] | ||||
| Estimated loss on long term construction contract | 406 | 335 | 406 | 335 |
| Accounts Receivable, Unapproved Contract Claims | 137 | 21 | 137 | 21 |
| Deductions (Back Charges) | 21 | 21 | ||
| Loss on Contracts | 69 | 2 | 27 | 28 |
| Contracts Revenue | $ 0 | $ 28 | ||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Inventories, Net (Schedule of Inventory) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Raw materials, components and supplies | $ 170 | $ 194 |
| Work in process | 102 | 135 |
| Finished goods | 2,649 | 2,758 |
| Total Inventory | $ 2,921 | $ 3,087 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Long-Lived Asset Impairments (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Property, Plant and Equipment [Abstract] | ||||
| Long-Lived Assets Impairment | $ 124 | $ 143 | ||
| Long-Lived Assets Impairment and Other Related Charges | 181 | 143 | 191 | 143 |
| Goodwill and Equity Investment Impairment | $ 20 | $ 125 | ||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Loss recognized during the period that results from the write-down of goodwill and equity investments. Goodwill was deemed impaired after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. As part of the goodwill testing it was noted that the fair value attributable to certain equity investments was significantly below our book value for these investments and an other than temporary decline in fair value was recognized. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Short-term Borrowings and Current Portion of Long-term Debt (Schedule of Short-term Debt) (Details) (USD $)
In Millions, unless otherwise specified |
0 Months Ended | |||
|---|---|---|---|---|
|
May 02, 2013
|
Jun. 30, 2015
|
Apr. 08, 2015
|
Dec. 31, 2014
|
|
| Short-term Debt [Line Items] | ||||
| Short-term Debt | $ 1,148 | $ 677 | ||
| Current portion of long-term debt | 408 | 50 | ||
| Short-term borrowings and current portion of long-term debt | 1,556 | 727 | ||
| Performance bonds | 278 | |||
|
Commercial paper program [Member]
|
||||
| Short-term Debt [Line Items] | ||||
| Short-term Debt | 198 | 245 | ||
|
Revolving credit facility [Member]
|
||||
| Short-term Debt [Line Items] | ||||
| Short-term Debt | 730 | 0 | ||
|
364-day term loan facility [Member]
|
||||
| Short-term Debt [Line Items] | ||||
| Short-term Debt | 0 | 175 | 175 | |
| Debt instrument, term | 364 days | |||
|
Other short-term bank loans [Member]
|
||||
| Short-term Debt [Line Items] | ||||
| Short-term Debt | $ 220 | $ 257 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Performance bonds with various domestic and international institutions. No definition available.
|
|
Short-term Borrowings and Current Portion of Long-term Debt (Narrative) (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Dec. 31, 2014
|
Jun. 30, 2015
Revolving credit facility [Member]
|
Dec. 31, 2014
Revolving credit facility [Member]
|
Jun. 30, 2015
Commercial paper program and letters of credit [Member]
|
Jun. 30, 2015
Commercial paper program [Member]
|
Dec. 31, 2014
Commercial paper program [Member]
|
Jun. 30, 2015
Committed letters of credit [Member]
|
May 02, 2013
364-day term loan facility [Member]
|
Jun. 30, 2015
364-day term loan facility [Member]
|
Apr. 08, 2015
364-day term loan facility [Member]
|
Dec. 31, 2014
364-day term loan facility [Member]
|
Apr. 30, 2014
364-day term loan facility [Member]
|
Jun. 30, 2015
Domestic and foreign facility [Member]
|
Jun. 30, 2015
Uncommitted letters of credit [Member]
|
Jun. 30, 2015
Maximum [Member]
Revolving credit facility [Member]
|
Jun. 30, 2015
Bi-Lateral Revolver Debt [Member]
Domestic and foreign facility [Member]
|
Jun. 30, 2015
London Interbank Offered Rate (LIBOR) [Member]
Domestic and foreign facility [Member]
|
Jun. 30, 2015
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 5.50% due 2016 [Member]
|
Jun. 30, 2015
Extinguishment of Debt Senior Notes [Member]
|
Mar. 31, 2015
Extinguishment of Debt Senior Notes [Member]
|
Apr. 09, 2015
Weatherford Delaware [Member]
364-day term loan facility [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 5.50% due 2016 [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 5.50% due 2016 [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 4.50% due 2022 [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 4.50% due 2022 [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 5.95% due 2042 [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 5.95% due 2042 [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 6.50% due 2036 [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 6.50% due 2036 [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 6.75% due 2040 [Member]
|
Dec. 31, 2014
Weatherford Delaware [Member]
Extinguishment of Debt Senior Notes [Member]
Senior Notes, 6.75% due 2040 [Member]
|
Jun. 30, 2015
Tranche One [Member]
Bi-Lateral Revolver Debt [Member]
Domestic and foreign facility [Member]
|
Jun. 30, 2015
Tranche Two [Member] [Member]
Bi-Lateral Revolver Debt [Member]
Domestic and foreign facility [Member]
|
|
| Short-term Debt [Line Items] | |||||||||||||||||||||||||||||||||||
| Credit agreement, maximum capacity | $ 1,300,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | $ 400,000,000 | |||||||||||||||||||||||||||||||
| Ratio of indebtedness to net capital percent required | 0.6 | ||||||||||||||||||||||||||||||||||
| Letters of credit outstanding, amount | 16,000,000 | 549,000,000 | |||||||||||||||||||||||||||||||||
| Short-term Debt | 1,148,000,000 | 677,000,000 | 730,000,000 | 0 | 198,000,000 | 245,000,000 | 0 | 175,000,000 | 175,000,000 | ||||||||||||||||||||||||||
| Debt instrument, term | 364 days | 364 days | 364 days | ||||||||||||||||||||||||||||||||
| Short term borrowings | 220,000,000 | 180,000,000 | 150,000,000 | 30,000,000 | |||||||||||||||||||||||||||||||
| Interest rate at period end | 1.73% | ||||||||||||||||||||||||||||||||||
| Performance bonds | 278,000,000 | ||||||||||||||||||||||||||||||||||
| Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | 5.50% | 4.50% | 4.50% | 5.95% | 5.95% | 6.50% | 6.50% | 6.75% | 6.75% | ||||||||||||||||||||||||
| Long-term Debt | 160,000,000 | ||||||||||||||||||||||||||||||||||
| Gain (Loss) on Repurchase of Debt Instrument | $ 0 | $ 12,000,000 | |||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Performance bonds with various domestic and international institutions. No definition available.
|
|
Fair Value of Financial Instruments (Details) (Senior Notes [Member], Level 2 [Member], USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
|---|---|---|
|
Fair Value [Member]
|
||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair value of long-term debt | $ 6,642 | $ 6,733 |
|
Carrying Value [Member]
|
||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair value of long-term debt | $ 6,497 | $ 6,660 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Derivative Instruments (Schedule of Derivatives - Balance Sheet) (Details) (Not Designated as Hedging Instrument [Member], USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
|---|---|---|
|
Foreign currency forward contracts [Member] | Other Current Assets [Member]
|
||
| Derivatives, Fair Value [Line Items] | ||
| Derivative asset, fair value, gross | $ 10 | $ 12 |
|
Foreign currency forward contracts [Member] | Other Current Liabilities [Member]
|
||
| Derivatives, Fair Value [Line Items] | ||
| Derivative liability, fair value, gross | (11) | (17) |
|
Cross-currency swap contracts [Member] | Other Liabilities [Member]
|
||
| Derivatives, Fair Value [Line Items] | ||
| Derivative liability, fair value, gross | $ 0 | $ (5) |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Derivative Instruments (Schedule of Derivatives - Income Statement) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2015
|
Jun. 30, 2015
Interest rate swap [Member]
Interest Expense, Net [Member]
Designated as Hedging Instrument [Member]
Fair Value Hedging [Member]
|
Jun. 30, 2014
Interest rate swap [Member]
Interest Expense, Net [Member]
Designated as Hedging Instrument [Member]
Fair Value Hedging [Member]
|
Jun. 30, 2015
Interest rate swap [Member]
Interest Expense, Net [Member]
Designated as Hedging Instrument [Member]
Fair Value Hedging [Member]
|
Jun. 30, 2014
Interest rate swap [Member]
Interest Expense, Net [Member]
Designated as Hedging Instrument [Member]
Fair Value Hedging [Member]
|
Jun. 30, 2015
Foreign currency forward contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2014
Foreign currency forward contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2015
Foreign currency forward contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2014
Foreign currency forward contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2015
Cross-currency swap contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2014
Cross-currency swap contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2015
Cross-currency swap contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
Jun. 30, 2014
Cross-currency swap contracts [Member]
Other, Net [Member]
Not Designated as Hedging Instrument [Member]
|
|
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||||
| Gain (Loss) Recognized in Income | $ 13 | $ 3 | $ 2 | $ 5 | $ 4 | $ 10 | $ 4 | $ (56) | $ (7) | $ 0 | $ (8) | $ 13 | $ 1 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Derivative Instruments (Narrative) (Details) (USD $)
|
3 Months Ended | ||||
|---|---|---|---|---|---|
|
Mar. 31, 2015
|
Jun. 30, 2015
Foreign currency forward contracts [Member]
|
Dec. 31, 2014
Foreign currency forward contracts [Member]
|
Dec. 31, 2014
Cross-currency swap contracts [Member]
|
Jun. 30, 2015
Fair Value Hedging [Member]
Interest rate swap [Member]
|
|
| Derivative [Line Items] | |||||
| Deferred (gain) loss on discontinuation of fair value hedge | $ (28,000,000) | ||||
| Notional amount | 1,363,000,000 | 1,600,000,000 | 168,000,000 | ||
| Gain (loss) on derivative | 13,000,000 | ||||
| Proceeds from Derivative Instrument, Financing Activities | $ 8,000,000 | ||||
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Income Taxes (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2016
Scenario, Forecast [Member]
|
Jun. 30, 2015
IRAQ
|
Jun. 30, 2014
IRAQ
|
Jun. 30, 2015
IRAQ
|
Jun. 30, 2014
IRAQ
|
Jun. 30, 2014
Land Drilling and Workover Rig Operations
|
|
| (Provision) Benefit for Income Taxes | $ 132 | $ (11) | $ 132 | $ (38) | ||||||
| Income (Loss) Before Income Taxes | (615) | (122) | (722) | (127) | ||||||
| Restructuring Charges | 69 | 59 | 110 | 129 | ||||||
| Foreign Exchange Related Charges | 16 | 0 | 42 | 0 | ||||||
| Discrete income before tax | 177 | |||||||||
| Uncertain tax positions, estimated for next twelve months | (19) | |||||||||
| Long-Lived Assets Impairment and Other Related Charges | 181 | 143 | 191 | 143 | 143 | |||||
| Goodwill and Equity Investment Impairment | 20 | 125 | 20 | 125 | 121 | |||||
| Litigation Charges | 112 | 0 | 112 | 0 | ||||||
| Loss on Contracts | $ 69 | $ 2 | $ 27 | $ 28 | ||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Discrete Income (Loss) Before Tax No definition available.
|
| X | ||||||||||
|
- Definition
Foreign Currency Devaluation Loss, before Tax No definition available.
|
|
Shareholders' Equity (Shareholders' Equity Activity) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
Par Value of Issued Shares [Member]
|
Jun. 30, 2014
Par Value of Issued Shares [Member]
|
Jun. 30, 2015
Capital in Excess of Par Value [Member]
|
Jun. 30, 2014
Capital in Excess of Par Value [Member]
|
Mar. 31, 2015
Retained Earnings [Member]
|
Jun. 30, 2014
Retained Earnings [Member]
|
Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Member]
|
Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Member]
|
Jun. 30, 2015
Treasury Shares [Member]
|
Jun. 30, 2014
Treasury Shares [Member]
|
Jun. 30, 2015
Noncontrolling Interests [Member]
|
Jun. 30, 2014
Noncontrolling Interests [Member]
|
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning balance | $ 7,033 | $ 8,203 | $ 1 | $ 775 | $ 5,411 | $ 4,600 | $ 2,427 | $ 3,011 | $ (881) | $ (187) | $ 0 | $ (37) | $ 75 | $ 41 | ||
| Net Income (Loss) | (483) | (133) | (590) | (165) | (607) | (186) | 17 | 21 | ||||||||
| Other Comprehensive Loss | 114 | 166 | (209) | (36) | (209) | (36) | ||||||||||
| Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Redeemable | 26 | 0 | 0 | 0 | 0 | 0 | 26 | |||||||||
| Dividends Paid to Noncontrolling Interests | (18) | (15) | (18) | (15) | ||||||||||||
| Change in Common Shares Associated with Redomestication | 11 | (778) | 750 | 0 | 0 | 39 | 0 | |||||||||
| Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 4 | |||||||||||||||
| Equity Awards Granted, Vested and Exercised | 30 | 26 | 0 | 30 | 24 | 0 | 0 | 0 | (2) | 0 | ||||||
| Other | 1 | 0 | 1 | |||||||||||||
| Balance, ending balance | $ 6,247 | $ 8,050 | $ 6,247 | $ 8,050 | $ 1 | $ 1 | $ 5,441 | $ 5,374 | $ 1,820 | $ 2,825 | $ (1,090) | $ (223) | $ 0 | $ 0 | $ 75 | $ 73 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Change in Common Shares Associated with Redomestication No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Shareholders' Equity (Narrative) (Details)
In Millions, except Share data, unless otherwise specified |
6 Months Ended | 6 Months Ended | |
|---|---|---|---|
|
Jun. 30, 2015
USD ($)
|
Dec. 31, 2014
CHF
|
Jun. 30, 2015
Accumulated Translation Adjustment [Member]
USD ($)
|
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
| Common Shares, Authorized (in shares) | 1,356,000,000 | 1,356,000,000 | |
| Common Shares, Par Value (in USD and CHF per share, respectively) | $ 0.001 | 0.001 | |
| Common Shares, Issued (in shares) | 775,000,000 | 774,000,000 | |
| Reclassifications from AOCI | $ (1) | $ 0 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Earnings per Share (Weighted Average Shares Outstanding) (Details)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Earnings Per Share [Abstract] | ||||
| Basic and diluted weighted average shares outstanding | 778 | 777 | 778 | 776 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Earnings per Share (Antidilutive Shares) (Details)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Earnings Per Share [Abstract] | ||||
| Anti-dilutive potential shares due to net loss | 3 | 5 | 3 | 5 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Antidilutive Securities Excluded from Computation of Earnings-per-Share Due to Net Loss, Amount No definition available.
|
|
Share-Based Compensation (Schedule of Share-based Compensation Expense) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
| Share-based compensation | $ 19 | $ 16 | $ 34 | $ 31 |
| Related tax benefit | $ 4 | $ 3 | $ 7 | $ 6 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Share-Based Compensation (Narrative) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
6 Months Ended |
|---|---|
|
Jun. 30, 2015
|
|
|
Performance units [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Granted (in shares) | 1.6 |
| Weighted-average grant date fair value (in dollars per share) | $ 10.45 |
| Fair value, risk-free rate | 0.51% |
| Fair value, volatility rate | 46.10% |
| Fair value, dividend yield | 0.00% |
| Unrecognized compensation expense | $ 20 |
| Unrecognized compensation expense, recognition period | 2 years |
|
Restricted Stock [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Granted (in shares) | 6.3 |
| Weighted-average grant date fair value (in dollars per share) | $ 12.90 |
| Unrecognized compensation expense | $ 120 |
| Unrecognized compensation expense, recognition period | 2 years |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Segment Information (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Dec. 31, 2014
|
|||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | $ 2,390 | $ 3,711 | $ 5,184 | $ 7,307 | |||||||||
| Income from Operations | (464) | 25 | (414) | 155 | |||||||||
| Depreciation and Amortization | 311 | 355 | 627 | 706 | |||||||||
| Long-Lived Assets Impairment and Other Related Charges | 181 | 143 | 191 | 143 | |||||||||
| Research and Development Expense | (59) | (75) | (123) | (144) | |||||||||
| Restructuring Charges | 69 | 59 | 110 | 129 | |||||||||
| Litigation Charges | (112) | 0 | (112) | 0 | |||||||||
| Gain on Sale of Businesses | (5) | 0 | (2) | 0 | |||||||||
| Assets | 17,634 | 17,634 | 18,889 | ||||||||||
| Goodwill, Impairment Loss | (20) | (125) | (20) | (125) | |||||||||
|
Operating Segments [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 2,390 | 3,711 | 5,184 | 7,307 | |||||||||
| Income from Operations | 36 | 490 | 265 | 832 | |||||||||
| Depreciation and Amortization | 305 | 350 | 615 | 695 | |||||||||
|
Operating Segments [Member] | North America [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 808 | 1,659 | 1,971 | 3,269 | |||||||||
| Income from Operations | (92) | 244 | (102) | 440 | |||||||||
| Depreciation and Amortization | 97 | 107 | 202 | 214 | |||||||||
|
Operating Segments [Member] | MENA/ Asia Pacific [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 516 | 579 | 1,049 | 1,198 | |||||||||
| Income from Operations | (17) | 61 | 43 | 66 | |||||||||
| Depreciation and Amortization | 66 | 71 | 131 | 143 | |||||||||
|
Operating Segments [Member] | Europe/ SSA/ Russia [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 418 | 561 | 835 | 1,077 | |||||||||
| Income from Operations | 65 | 105 | 136 | 183 | |||||||||
| Depreciation and Amortization | 53 | 57 | 103 | 111 | |||||||||
|
Operating Segments [Member] | Latin America [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 463 | 518 | 949 | 1,027 | |||||||||
| Income from Operations | 76 | 76 | 174 | 166 | |||||||||
| Depreciation and Amortization | 62 | 61 | 123 | 119 | |||||||||
|
Operating Segments [Member] | Core Regional Segments [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 2,205 | 3,317 | 4,804 | 6,571 | |||||||||
| Income from Operations | 32 | 486 | 251 | 855 | |||||||||
| Depreciation and Amortization | 278 | 296 | 559 | 587 | |||||||||
|
Operating Segments [Member] | Drilling Rigs [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net Operating Revenues | 185 | 394 | 380 | 736 | |||||||||
| Income from Operations | 4 | 4 | 14 | (23) | |||||||||
| Depreciation and Amortization | 27 | 54 | 56 | 108 | |||||||||
|
Corporate and Research and Development [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Income from Operations | (225) | (236) | |||||||||||
| Depreciation and Amortization | 6 | 5 | 12 | 11 | |||||||||
| Research and Development Expense | (105) | ||||||||||||
|
Segment Reconciling Items [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Long-Lived Assets Impairment and Other Related Charges | 143 | 143 | |||||||||||
| Research and Development Expense | (120) | ||||||||||||
| Restructuring Charges | (69) | [1] | (59) | [2] | |||||||||
| Gain on Sale of Businesses | (5) | ||||||||||||
| Other Items | (8) | [3] | 18 | ||||||||||
| Impairment of Long-Lived Assets to be Disposed of | (181) | (191) | |||||||||||
| Goodwill, Impairment Loss | (20) | (125) | |||||||||||
|
Goodwill Impairment including assets held for sale [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Income from Operations | (20) | (125) | |||||||||||
|
Restructuring Charges [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Income from Operations | (110) | (129) | |||||||||||
|
Gain on Sale of Business [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Income from Operations | (2) | ||||||||||||
|
Other Unallocated [Member]
|
|||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Income from Operations | $ (19) | $ (44) | |||||||||||
|
|||||||||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Impairment of Long-Lived Assets and Other Related Charges No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Divestiture, Professional and Other Fees Portion No definition available.
|
| X | ||||||||||
|
- Definition
Facility Closure Fees No definition available.
|
| X | ||||||||||
|
- Definition
Pressure Pumping Related Charges No definition available.
|
| X | ||||||||||
|
- Definition
Supply Agreement Charges related to Non-Core Business Divestiture No definition available.
|
|
Disputes, Litigation and Contingencies (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 2 Months Ended | 6 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
Freedman v. Weatherford International Ltd., et al. [Member] [Member]
|
Jun. 30, 2015
Freedman v. Weatherford International Ltd., et al. [Member] [Member]
|
Feb. 25, 2014
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]
|
Jun. 30, 2015
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]
|
Mar. 31, 2014
Dobina v. Weatherford International Ltd., et al. [Member]
Material Weakness in Internal Controls [Member]
|
|
| Loss Contingencies [Line Items] | |||||||||
| Litigation Settlement, Amount | $ 120 | ||||||||
| Litigation Charges | 112 | 0 | 112 | 0 | 95 | ||||
| Payments for legal settlements | $ 253 | $ 53 | |||||||
| Period of time expected to be monitored for assessing company's compliance upon settlement | 18 months | ||||||||
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Loss Contingency, Settlement Agreement, Compliance Monitoring Period No definition available.
|
|
Condensed Consolidating Financial Statements (Narrative) (Details)
|
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 6.35% due 2017 [Member]
Senior Notes [Member]
Weatherford Bermuda [Member]
|
Dec. 31, 2014
Senior Notes, 6.35% due 2017 [Member]
Senior Notes [Member]
Weatherford Bermuda [Member]
|
Jun. 30, 2015
Senior Notes, 6.80% due 2037 [Member]
Senior Notes [Member]
Weatherford Bermuda [Member]
|
Dec. 31, 2014
Senior Notes, 6.80% due 2037 [Member]
Senior Notes [Member]
Weatherford Bermuda [Member]
|
Jun. 30, 2015
Senior Notes, 5.50% due 2016 [Member]
Senior Notes [Member]
|
Jun. 30, 2015
Senior Notes, 5.50% due 2016 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 5.50% due 2016 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 6.50% due 2036 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 6.50% due 2036 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 6.00% due 2018 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 6.00% due 2018 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 7.00% due 2038 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 7.00% due 2038 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 9.625% due 2019 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 9.625% due 2019 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 9.875% due 2039 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 9.875% due 2039 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 5.125% due 2020 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 5.125% due 2020 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 6.75% due 2040 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 6.75% due 2040 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 4.50% due 2022 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 4.50% due 2022 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Jun. 30, 2015
Senior Notes, 5.95% due 2042 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
Dec. 31, 2014
Senior Notes, 5.95% due 2042 [Member]
Senior Notes [Member]
Weatherford Delaware [Member]
|
May 02, 2013
Notes Payable to Banks [Member]
|
Apr. 09, 2015
Notes Payable to Banks [Member]
Weatherford Delaware [Member]
|
|
| Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||||||||||||||
| Stated interest rate on debt | 6.35% | 6.35% | 6.80% | 6.80% | 5.50% | 5.50% | 5.50% | 6.50% | 6.50% | 6.00% | 6.00% | 7.00% | 7.00% | 9.625% | 9.625% | 9.875% | 9.875% | 5.125% | 5.125% | 6.75% | 6.75% | 4.50% | 4.50% | 5.95% | 5.95% | |||
| Debt instrument, term | 364 days | 364 days | 364 days | |||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
|
Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Operations) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | $ 2,390 | $ 3,711 | $ 5,184 | $ 7,307 |
| Costs and Expenses | (2,854) | (3,686) | (5,598) | (7,152) |
| Operating Income (Loss) | (464) | 25 | (414) | 155 |
| Other Income (Expense): | ||||
| Interest Expense, Net | (117) | (128) | (237) | (254) |
| Intercompany Charges, Net | 0 | 0 | 0 | 0 |
| Equity in Subsidiary Income | 0 | 0 | 0 | 0 |
| Other, Net | (34) | (19) | (71) | (28) |
| Loss Before Income Taxes | (615) | (122) | (722) | (127) |
| (Provision) Benefit for Income Taxes | 132 | (11) | 132 | (38) |
| Net Loss | (483) | (133) | (590) | (165) |
| Net Income Attributable to Noncontrolling Interests | 6 | 12 | 17 | 21 |
| Net Income (Loss) Attributable to Weatherford | (489) | (145) | (607) | (186) |
| Comprehensive Income (Loss) Attributable to Weatherford | (375) | 21 | (816) | (222) |
|
Weatherford Ireland [Member]
|
||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | 0 | 0 | 0 | 0 |
| Costs and Expenses | (100) | (9) | (107) | (28) |
| Operating Income (Loss) | (100) | (9) | (107) | (28) |
| Other Income (Expense): | ||||
| Interest Expense, Net | 0 | 0 | 0 | 0 |
| Intercompany Charges, Net | 26 | 12 | (26) | (12) |
| Equity in Subsidiary Income | (363) | (123) | (474) | (144) |
| Other, Net | 0 | 0 | 0 | (1) |
| Loss Before Income Taxes | (489) | (144) | (607) | (185) |
| (Provision) Benefit for Income Taxes | 0 | (1) | 0 | (1) |
| Net Loss | (489) | (145) | (607) | (186) |
| Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Weatherford | (489) | (145) | (607) | (186) |
| Comprehensive Income (Loss) Attributable to Weatherford | (375) | 21 | (816) | (222) |
|
Weatherford Bermuda [Member]
|
||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | 0 | 0 | 0 | 0 |
| Costs and Expenses | (4) | (1) | (4) | (1) |
| Operating Income (Loss) | (4) | (1) | (4) | (1) |
| Other Income (Expense): | ||||
| Interest Expense, Net | (98) | (106) | (202) | (211) |
| Intercompany Charges, Net | 28 | 22 | (43) | 7,326 |
| Equity in Subsidiary Income | 366 | (192) | 441 | (112) |
| Other, Net | 1 | (11) | (19) | (15) |
| Loss Before Income Taxes | 237 | (332) | 173 | 6,987 |
| (Provision) Benefit for Income Taxes | 0 | 0 | 0 | 0 |
| Net Loss | 237 | (332) | 173 | 6,987 |
| Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Weatherford | 237 | (332) | 173 | 6,987 |
| Comprehensive Income (Loss) Attributable to Weatherford | 263 | (182) | 107 | 6,987 |
|
Weatherford Delaware [Member]
|
||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | 0 | 0 | 0 | 0 |
| Costs and Expenses | 0 | 0 | 0 | (1) |
| Operating Income (Loss) | 0 | 0 | 0 | (1) |
| Other Income (Expense): | ||||
| Interest Expense, Net | (15) | (14) | (28) | (29) |
| Intercompany Charges, Net | 68 | 77 | (68) | (77) |
| Equity in Subsidiary Income | 874 | (175) | 849 | (164) |
| Other, Net | 0 | (1) | 0 | (1) |
| Loss Before Income Taxes | 791 | (267) | 753 | (272) |
| (Provision) Benefit for Income Taxes | 29 | 31 | 34 | 37 |
| Net Loss | 820 | (236) | 787 | (235) |
| Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Weatherford | 820 | (236) | 787 | (235) |
| Comprehensive Income (Loss) Attributable to Weatherford | 843 | (100) | 774 | (235) |
|
Other Subsidiaries [Member]
|
||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | 2,390 | 3,711 | 5,184 | 7,307 |
| Costs and Expenses | (2,750) | (3,676) | (5,487) | (7,122) |
| Operating Income (Loss) | (360) | 35 | (303) | 185 |
| Other Income (Expense): | ||||
| Interest Expense, Net | (4) | (8) | (7) | (14) |
| Intercompany Charges, Net | (122) | 1,709 | 137 | (9,057) |
| Equity in Subsidiary Income | 0 | 0 | 0 | 0 |
| Other, Net | (35) | (7) | (52) | (11) |
| Loss Before Income Taxes | (277) | (1,689) | (225) | (8,897) |
| (Provision) Benefit for Income Taxes | 103 | (41) | 98 | (74) |
| Net Loss | (174) | (1,730) | (127) | (8,971) |
| Net Income Attributable to Noncontrolling Interests | 6 | 12 | 17 | 21 |
| Net Income (Loss) Attributable to Weatherford | (180) | (1,742) | (144) | (8,992) |
| Comprehensive Income (Loss) Attributable to Weatherford | (66) | (1,539) | (352) | (8,992) |
|
Eliminations [Member]
|
||||
| Condensed Income Statements, Captions [Line Items] | ||||
| Revenues | 0 | 0 | 0 | 0 |
| Costs and Expenses | 0 | 0 | 0 | 0 |
| Operating Income (Loss) | 0 | 0 | 0 | 0 |
| Other Income (Expense): | ||||
| Interest Expense, Net | 0 | 0 | 0 | 0 |
| Intercompany Charges, Net | 0 | (1,820) | 0 | 1,820 |
| Equity in Subsidiary Income | (877) | 490 | (816) | 420 |
| Other, Net | 0 | 0 | 0 | 0 |
| Loss Before Income Taxes | (877) | 2,310 | (816) | 2,240 |
| (Provision) Benefit for Income Taxes | 0 | 0 | 0 | 0 |
| Net Loss | (877) | 2,310 | (816) | 2,240 |
| Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Weatherford | (877) | 2,310 | (816) | 2,240 |
| Comprehensive Income (Loss) Attributable to Weatherford | $ (1,040) | $ 1,821 | $ (529) | $ 2,240 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the portion of the entity's net income (loss) from its subsidiaries No definition available.
|
| X | ||||||||||
|
- Definition
Net amount of intercompany charges, other than from external customers. Amounts are eliminated in consolidation. No definition available.
|
| X | ||||||||||
|
- Definition
Other Nonoperating Income (Expense), Including Foreign Currency Devaluation No definition available.
|
|
Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
Jun. 30, 2014
|
Dec. 31, 2013
|
|---|---|---|---|---|
| Current Assets | ||||
| Cash and Cash Equivalents | $ 611 | $ 474 | $ 571 | $ 435 |
| Other Current Assets | 6,453 | 7,470 | ||
| Total Current Assets | 7,064 | 7,944 | ||
| Equity Investments in Affiliates | 0 | 0 | ||
| Intercompany Receivables, Net | 0 | 0 | ||
| Other Assets | 10,570 | 10,945 | ||
| Total Assets | 17,634 | 18,889 | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 1,556 | 727 | ||
| Accounts Payable and Other Current Liabilities | 2,581 | 3,300 | ||
| Total Current Liabilities | 4,137 | 4,027 | ||
| Long-term Debt | 6,268 | 6,798 | ||
| Intercompany Payables, Net | 0 | 0 | ||
| Other Long-term Liabilities | 982 | 1,031 | ||
| Total Liabilities | 11,387 | 11,856 | ||
| Weatherford Shareholders’ Equity | 6,172 | 6,958 | ||
| Noncontrolling Interests | 75 | 75 | ||
| Total Liabilities and Shareholders’ Equity | 17,634 | 18,889 | ||
|
Weatherford Ireland [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 0 | 1 | 0 | 0 |
| Other Current Assets | 5 | 4 | ||
| Total Current Assets | 5 | 5 | ||
| Equity Investments in Affiliates | 8,011 | 8,662 | ||
| Intercompany Receivables, Net | 0 | 0 | ||
| Other Assets | 4 | 5 | ||
| Total Assets | 8,020 | 8,672 | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 0 | 0 | ||
| Accounts Payable and Other Current Liabilities | 137 | 43 | ||
| Total Current Liabilities | 137 | 43 | ||
| Long-term Debt | 0 | 0 | ||
| Intercompany Payables, Net | 1,699 | 1,666 | ||
| Other Long-term Liabilities | 12 | 5 | ||
| Total Liabilities | 1,848 | 1,714 | ||
| Weatherford Shareholders’ Equity | 6,172 | 6,958 | ||
| Noncontrolling Interests | 0 | 0 | ||
| Total Liabilities and Shareholders’ Equity | 8,020 | 8,672 | ||
|
Weatherford Bermuda [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 1 | 0 | 1 | 0 |
| Other Current Assets | 0 | 12 | ||
| Total Current Assets | 1 | 12 | ||
| Equity Investments in Affiliates | 11,057 | 10,490 | ||
| Intercompany Receivables, Net | 0 | 0 | ||
| Other Assets | 33 | 35 | ||
| Total Assets | 11,091 | 10,537 | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 1,464 | 618 | ||
| Accounts Payable and Other Current Liabilities | 236 | 256 | ||
| Total Current Liabilities | 1,700 | 874 | ||
| Long-term Debt | 5,238 | 5,749 | ||
| Intercompany Payables, Net | 5,962 | 6,202 | ||
| Other Long-term Liabilities | 77 | 82 | ||
| Total Liabilities | 12,977 | 12,907 | ||
| Weatherford Shareholders’ Equity | (1,886) | (2,370) | ||
| Noncontrolling Interests | 0 | 0 | ||
| Total Liabilities and Shareholders’ Equity | 11,091 | 10,537 | ||
|
Weatherford Delaware [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 22 | 22 | 22 | 0 |
| Other Current Assets | 543 | 544 | ||
| Total Current Assets | 565 | 566 | ||
| Equity Investments in Affiliates | 10,528 | 9,730 | ||
| Intercompany Receivables, Net | 0 | 0 | ||
| Other Assets | 49 | 16 | ||
| Total Assets | 11,142 | 10,312 | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 6 | 6 | ||
| Accounts Payable and Other Current Liabilities | 0 | 0 | ||
| Total Current Liabilities | 6 | 6 | ||
| Long-term Debt | 908 | 911 | ||
| Intercompany Payables, Net | 2,695 | 2,622 | ||
| Other Long-term Liabilities | 5 | 5 | ||
| Total Liabilities | 3,614 | 3,544 | ||
| Weatherford Shareholders’ Equity | 7,528 | 6,768 | ||
| Noncontrolling Interests | 0 | 0 | ||
| Total Liabilities and Shareholders’ Equity | 11,142 | 10,312 | ||
|
Other Subsidiaries [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 588 | 451 | 548 | 435 |
| Other Current Assets | 6,509 | 7,524 | ||
| Total Current Assets | 7,097 | 7,975 | ||
| Equity Investments in Affiliates | 3,868 | 3,974 | ||
| Intercompany Receivables, Net | 10,356 | 10,490 | ||
| Other Assets | 10,484 | 10,889 | ||
| Total Assets | 31,805 | 33,328 | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 86 | 103 | ||
| Accounts Payable and Other Current Liabilities | 2,812 | 3,615 | ||
| Total Current Liabilities | 2,898 | 3,718 | ||
| Long-term Debt | 122 | 137 | ||
| Intercompany Payables, Net | 0 | 0 | ||
| Other Long-term Liabilities | 888 | 939 | ||
| Total Liabilities | 3,908 | 4,794 | ||
| Weatherford Shareholders’ Equity | 27,822 | 28,459 | ||
| Noncontrolling Interests | 75 | 75 | ||
| Total Liabilities and Shareholders’ Equity | 31,805 | 33,328 | ||
|
Parent Company [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 1 | |||
|
Eliminations [Member]
|
||||
| Current Assets | ||||
| Cash and Cash Equivalents | 0 | 0 | 0 | 0 |
| Other Current Assets | (604) | (614) | ||
| Total Current Assets | (604) | (614) | ||
| Equity Investments in Affiliates | (33,464) | (32,856) | ||
| Intercompany Receivables, Net | (10,356) | (10,490) | ||
| Other Assets | 0 | 0 | ||
| Total Assets | (44,424) | (43,960) | ||
| Current Liabilities | ||||
| Short-term Borrowings and Current Portion of Long-Term Debt | 0 | 0 | ||
| Accounts Payable and Other Current Liabilities | (604) | (614) | ||
| Total Current Liabilities | (604) | (614) | ||
| Long-term Debt | 0 | 1 | ||
| Intercompany Payables, Net | (10,356) | (10,490) | ||
| Other Long-term Liabilities | 0 | 0 | ||
| Total Liabilities | (10,960) | (11,103) | ||
| Weatherford Shareholders’ Equity | (33,464) | (32,857) | ||
| Noncontrolling Interests | 0 | 0 | ||
| Total Liabilities and Shareholders’ Equity | $ (44,424) | $ (43,960) |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received and other liabilities not separately disclosed in balance sheet that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer) No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its equity investment in the entity's affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Net carrying amount of intercompany payables, other than from external vendors, as of balance sheet date. Amounts are eliminated in consolidation. No definition available.
|
| X | ||||||||||
|
- Definition
Net carrying amount of intercompany receivables, other than from customers, as of balance sheet date. Amounts are eliminated in consolidation. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Amount used on consolidating schedule. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Amount used on consolidating schedule. No definition available.
|
|
Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Cash Flows) (Details) (USD $)
|
6 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
Weatherford Ireland [Member]
|
Jun. 30, 2014
Weatherford Ireland [Member]
|
Jun. 30, 2015
Weatherford Bermuda [Member]
|
Jun. 30, 2014
Weatherford Bermuda [Member]
|
Jun. 30, 2015
Weatherford Delaware [Member]
|
Jun. 30, 2014
Weatherford Delaware [Member]
|
Jun. 30, 2015
Other Subsidiaries [Member]
|
Jun. 30, 2014
Other Subsidiaries [Member]
|
Jun. 30, 2015
Eliminations [Member]
|
Jun. 30, 2014
Eliminations [Member]
|
|
| Condensed Cash Flow Statements, Captions [Line Items] | ||||||||||||
| Net Loss | $ (590,000,000) | $ (165,000,000) | $ (607,000,000) | $ (186,000,000) | $ 173,000,000 | $ 6,987,000,000 | $ 787,000,000 | $ (235,000,000) | $ (127,000,000) | $ (8,971,000,000) | $ (816,000,000) | $ 2,240,000,000 |
| Cash Flows from Operating Activities: | ||||||||||||
| Charges from Parent or Subsidiary | 0 | 0 | 26,000,000 | 12,000,000 | 43,000,000 | (7,326,000,000) | 68,000,000 | 77,000,000 | (137,000,000) | 9,057,000,000 | 0 | (1,820,000,000) |
| Equity in (Earnings) Loss of Affiliates | 0 | 0 | 474,000,000 | 144,000,000 | (441,000,000) | 112,000,000 | (849,000,000) | 164,000,000 | 0 | 0 | 816,000,000 | (420,000,000) |
| Deferred Income Tax Provision (Benefit) | (191,000,000) | 16,000,000 | 0 | 0 | 0 | 0 | (34,000,000) | 0 | (157,000,000) | 16,000,000 | 0 | 0 |
| Other Adjustments | 1,030,000,000 | 178,000,000 | 84,000,000 | 8,000,000 | 74,000,000 | (260,000,000) | 8,000,000 | 10,000,000 | 864,000,000 | 420,000,000 | 0 | 0 |
| Net Cash Provided by Operating Activities | 249,000,000 | 29,000,000 | (23,000,000) | (22,000,000) | (151,000,000) | (487,000,000) | (20,000,000) | 16,000,000 | 443,000,000 | 522,000,000 | 0 | 0 |
| Cash Flows from Investing Activities: | ||||||||||||
| Capital Expenditures for Property, Plant and Equipment | (411,000,000) | (662,000,000) | 0 | 0 | 0 | 0 | 0 | 0 | (411,000,000) | (662,000,000) | 0 | 0 |
| Payments to Acquire Businesses, Net of Cash Acquired | 0 | 17,000,000 | 0 | 0 | 0 | 17,000,000 | 0 | |||||
| Acquisition of Intellectual Property | (3,000,000) | (3,000,000) | 0 | 0 | 0 | 0 | 0 | 0 | (3,000,000) | (3,000,000) | 0 | 0 |
| Proceeds from Sale of Assets and Businesses, Net | 23,000,000 | 26,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 23,000,000 | 26,000,000 | 0 | 0 |
| Net Cash Used in Investing Activities | (391,000,000) | (622,000,000) | 0 | 0 | 0 | 0 | 0 | 0 | (391,000,000) | (622,000,000) | 0 | 0 |
| Cash Flows From Financing Activities: | ||||||||||||
| Borrowings of Short-term Debt, Net | 478,000,000 | 738,000,000 | 0 | 0 | 496,000,000 | 775,000,000 | 0 | 0 | (18,000,000) | (37,000,000) | 0 | 0 |
| Borrowings (Repayments) Long-term Debt, Net | (161,000,000) | (36,000,000) | 0 | 0 | (147,000,000) | 0 | (1,000,000) | (8,000,000) | (13,000,000) | (28,000,000) | 0 | 0 |
| Borrowings (Repayments) Between Subsidiaries, Net | 0 | 0 | 22,000,000 | 22,000,000 | (197,000,000) | (287,000,000) | 21,000,000 | 14,000,000 | 154,000,000 | 251,000,000 | 0 | 0 |
| Proceeds from Capital Contributions | 22,000,000 | 0 | 0 | 0 | 22,000,000 | 0 | ||||||
| Other, Net | (15,000,000) | (2,000,000) | 0 | 0 | 0 | 0 | 0 | 0 | (15,000,000) | (2,000,000) | 0 | 0 |
| Net Cash Provided by Financing Activities | 302,000,000 | 722,000,000 | 22,000,000 | 22,000,000 | 152,000,000 | 488,000,000 | 20,000,000 | 6,000,000 | 108,000,000 | 206,000,000 | 0 | 0 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (23,000,000) | 7,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | (23,000,000) | 7,000,000 | 0 | 0 |
| Net Increase in Cash and Cash Equivalents | 137,000,000 | 136,000,000 | (1,000,000) | 0 | 1,000,000 | 1,000,000 | 0 | 22,000,000 | 137,000,000 | 113,000,000 | 0 | 0 |
| Cash and Cash Equivalents at Beginning of Period | 474,000,000 | 435,000,000 | 1,000,000 | 0 | 0 | 0 | 22,000,000 | 0 | 451,000,000 | 435,000,000 | 0 | 0 |
| Cash and Cash Equivalents at End of Period | $ 611,000,000 | $ 571,000,000 | $ 0 | $ 0 | $ 1,000,000 | $ 1,000,000 | $ 22,000,000 | $ 22,000,000 | $ 588,000,000 | $ 548,000,000 | $ 0 | $ 0 |
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
No authoritative reference available. No definition available.
|
| X | ||||||||||
|
- Definition
Intercompany charges that are eliminated in consolidation. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from Capital Contributions No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities, including the exercise of warrants. This element is used when there is not a more specific and appropriate element in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from (Payments for) Other Operating Activities, Consolidating No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow (outflow) from borrowings between subsidiaries of a common parent. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from Sale of Assets and Divestitures of Businesses No definition available.
|