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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total Revenue $ 1,405 $ 1,274 $ 2,763 $ 2,460
Costs and Expenses:        
Research and Development 31 27 62 53
Selling, General and Administrative 216 198 421 388
Other Charges (Credits) 3 1 8 (4)
Total Costs and Expenses 1,141 1,073 2,266 2,074
Operating Income 264 201 497 386
Interest Expense, Net of Interest Income of $17, $16, $31, and $32 (24) (31) (53) (62)
Loss on Blue Chip Swap Securities (10) (57) (10) (57)
Other Expense, Net (20) (39) (42) (74)
Income Before Income Taxes 210 74 392 193
Income Tax Benefit (Provision) (73) 16 (132) (22)
Net Income 137 90 260 171
Net Income Attributable to Noncontrolling Interests 12 8 23 17
Net Income Attributable to Weatherford $ 125 $ 82 $ 237 $ 154
Basic Income per Share (in dollars per share) $ 1.71 $ 1.14 $ 3.25 $ 2.14
Basic Weighted Average Shares Outstanding (in shares) 73.2 72.1 73.1 72.1
Diluted Income per Share (in dollars per share) $ 1.66 $ 1.12 $ 3.16 $ 2.11
Diluted Weighted Average Shares Outstanding (in shares) 75.3 73.4 75.0 73.4
Services        
Revenue:        
Total Revenue $ 862 $ 794 $ 1,727 $ 1,535
Costs and Expenses:        
Cost of Services and Products 500 499 1,027 949
Products        
Revenue:        
Total Revenue 543 480 1,036 925
Costs and Expenses:        
Cost of Services and Products $ 391 $ 348 $ 748 $ 688