Weatherford International plcWFRD
Weatherford International plc Segments Disclosure
2 – Segment Information
The Company's chief operating decision maker (“CODM”), our chief executive officer, regularly reviews information to make operating decisions, allocate resources and assess performance of the business. The CODM regularly reviews information aligned with how we offer our services and technologies in relation to the well life cycle as reflected in our reportable segments. All of our segments are enabled by a suite of digital monitoring, control and optimization solutions using advanced analytics to provide safe, reliable and efficient solutions throughout the well life cycle, including responsible abandonment. We have three reportable segments: (1) Drilling and Evaluation (2) Well Construction and Completions, and (3) Production and Intervention.
Drilling and Evaluation (“DRE”) offers a suite of services including managed pressure drilling, drilling services, wireline and drilling fluids. DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access and productivity.
Well Construction and Completions (“WCC”) offers products and services for well integrity assurance across the full life cycle of the well. The primary offerings are tubular running services, cementation products, completions, liner hangers and well services. WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction phase.
Production and Intervention (“PRI”) offers a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs. The primary offerings are intervention services & drilling tools, artificial lift, digital solutions, sub-sea intervention and pressure pumping services in select markets.
Total revenues are from external customers and segment revenues are specific to our three reportable segments and all other revenues are specific to our non-operating segment revenues. Revenues are further described in “Note 3 – Revenue.”
The CODM uses segment adjusted EBITDA to measure the profitability of each segment. The regularly reviewed historical, current and forecasted segment adjusted EBITDA data is utilized by the CODM to allocate Company resources. The CODM also uses segment adjusted EBITDA to drive efficiencies and develop competitive strategies. Segment adjusted EBITDA is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. All other includes results from non-core business activities (including integrated services and projects), and corporate includes overhead support and centrally managed or shared facilities costs. All other and corporate do not individually meet the criteria for segment reporting.
Year Ended December 31, 2025 | ||||||||||||||||||||
| Reportable Segments | All | |||||||||||||||||||
| (Dollars in millions) | DRE | WCC | PRI | Other | Total | |||||||||||||||
| Revenue | $ | 1,371 | $ | 1,875 | $ | 1,340 | $ | 332 | $ | 4,918 | ||||||||||
Direct Costs(a) | (876) | (1,127) | (913) | |||||||||||||||||
Other Expense(b) | (186) | (233) | (170) | |||||||||||||||||
| DRE Segment Adjusted EBITDA | 309 | 309 | ||||||||||||||||||
| WCC Segment Adjusted EBITDA | 515 | 515 | ||||||||||||||||||
| PRI Segment Adjusted EBITDA | 257 | 257 | ||||||||||||||||||
| All Other | 42 | |||||||||||||||||||
| Corporate | (56) | |||||||||||||||||||
| Depreciation and Amortization | (267) | |||||||||||||||||||
Share-based Compensation (c) | (38) | |||||||||||||||||||
Gain on Sale of Business | 70 | |||||||||||||||||||
Restructuring Charges | (58) | |||||||||||||||||||
Other Charges, Net | (18) | |||||||||||||||||||
| Operating Income | $ | 756 | ||||||||||||||||||
(a)Segment cost of sales and direct operating costs.
(b)Segment selling, general and administrative and research and development costs.
(c)See “Note 14 – Share-Based Compensation” for additional information.
Year Ended December 31, 2024 | ||||||||||||||||||||
| Reportable Segments | All | |||||||||||||||||||
| (Dollars in millions) | DRE | WCC | PRI | Other | Total | |||||||||||||||
| Revenue | $ | 1,682 | $ | 1,976 | $ | 1,452 | $ | 403 | $ | 5,513 | ||||||||||
Direct Costs(a) | (1,007) | (1,174) | (955) | |||||||||||||||||
Other Expense(b) | (208) | (238) | (178) | |||||||||||||||||
| DRE Segment Adjusted EBITDA | 467 | 467 | ||||||||||||||||||
| WCC Segment Adjusted EBITDA | 564 | 564 | ||||||||||||||||||
| PRI Segment Adjusted EBITDA | 319 | 319 | ||||||||||||||||||
| All Other | 84 | |||||||||||||||||||
| Corporate | (52) | |||||||||||||||||||
| Depreciation and Amortization | (343) | |||||||||||||||||||
Share-based Compensation (c) | (45) | |||||||||||||||||||
Restructuring Charges | (42) | |||||||||||||||||||
Other Charges, Net | (14) | |||||||||||||||||||
| Operating Income | $ | 938 | ||||||||||||||||||
(a)Segment cost of sales and direct operating costs.
(b)Segment selling, general and administrative and research and development costs.
(c)See “Note 14 – Share-Based Compensation” for additional information.
Year Ended December 31, 2023 | ||||||||||||||||||||
| Reportable Segments | All | |||||||||||||||||||
| (Dollars in millions) | DRE | WCC | PRI | Other | Total | |||||||||||||||
| Revenue | $ | 1,536 | $ | 1,800 | $ | 1,472 | $ | 327 | $ | 5,135 | ||||||||||
Direct Costs(a) | (920) | (1,091) | (953) | |||||||||||||||||
Other Expense(b) | (194) | (254) | (196) | |||||||||||||||||
| DRE Segment Adjusted EBITDA | 422 | 422 | ||||||||||||||||||
| WCC Segment Adjusted EBITDA | 455 | 455 | ||||||||||||||||||
| PRI Segment Adjusted EBITDA | 323 | 323 | ||||||||||||||||||
| All Other | 38 | |||||||||||||||||||
| Corporate | (52) | |||||||||||||||||||
| Depreciation and Amortization | (327) | |||||||||||||||||||
Share-based Compensation (c) | (35) | |||||||||||||||||||
Gain on Sale of Business | 2 | |||||||||||||||||||
Restructuring Charges | (16) | |||||||||||||||||||
Other Credits, Net | 10 | |||||||||||||||||||
| Operating Income | $ | 820 | ||||||||||||||||||
(a)Segment cost of sales and direct operating costs.
(b)Segment selling, general and administrative and research and development costs.
(c)See “Note 14 – Share-Based Compensation” for additional information.
| Year Ended December 31, | |||||||||||
| (Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Depreciation and Amortization: | |||||||||||
DRE | $ | 87 | $ | 113 | $ | 102 | |||||
WCC | 51 | 93 | 95 | ||||||||
PRI | 80 | 91 | 84 | ||||||||
Corporate and Other | 49 | 46 | 46 | ||||||||
| Total Depreciation and Amortization | $ | 267 | $ | 343 | $ | 327 | |||||
| Capital Expenditures: | |||||||||||
| DRE | $ | 86 | $ | 108 | $ | 104 | |||||
WCC | 32 | 57 | 49 | ||||||||
PRI | 67 | 77 | 34 | ||||||||
| Corporate and Other | 41 | 57 | 22 | ||||||||
| Total Capital Expenditures | $ | 226 | $ | 299 | $ | 209 | |||||
| December 31, | |||||||||||
| (Dollars in millions) | 2025 | 2024 | |||||||||
| Total Assets: | |||||||||||
DRE | $ | 931 | $ | 925 | |||||||
WCC | 1,055 | 1,040 | |||||||||
PRI | 771 | 789 | |||||||||
Corporate and Other (a) | 2,440 | 2,405 | |||||||||
| Total | $ | 5,197 | $ | 5,159 | |||||||
(a) Corporate and other total assets primarily include cash and cash equivalents, certain intangible assets, and centrally managed or shared facilities. | |||||||||||
PP&E, Net and Operating Lease Assets by Geographic Area
As of December 31, 2025, and 2024 the U.S. accounted for 23% and 22%, respectively, and the Kingdom of Saudi Arabia accounted for 13% and 11%, respectively, of our PP&E, Net and operating lease assets identifiable by geography. No other country accounted for more than 10% of our PP&E, Net and operating lease assets identifiable by geography as of December 31, 2025 and 2024. We had no PP&E, Net and operating lease assets in our country of domicile (Ireland) as of December 31, 2025, and 2024.
| December 31, | ||||||||||||||
| (Dollars in millions) | 2025 | 2024 | ||||||||||||
North America (a) | $ | 314 | $ | 293 | ||||||||||
| Latin America | 153 | 195 | ||||||||||||
| Middle East/North Africa/Asia | 507 | 443 | ||||||||||||
| Europe/Sub-Sahara Africa/Russia | 231 | 219 | ||||||||||||
PP&E, Net and Operating Lease Assets by Geography (b) | $ | 1,205 | $ | 1,150 | ||||||||||
(a) North America consists of the U.S. and Canada. | ||||||||||||||
(b) Corporate assets not allocated by geography are excluded from this total. | ||||||||||||||
Sale of Business
In April 2025, we completed the sale of our pressure pumping business in Argentina for proceeds totaling $104 million consisting of $7 million of proceeds received in the fourth quarter of 2024 and $97 million of proceeds received in the second quarter of 2025. We recognized a gain of $70 million as a result of this transaction during the three months ended June 30, 2025.Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 4, 2026 | Showing above |
| 2024 | Feb 6, 2025 | |
| 2023 | Feb 7, 2024 | |
| 2022 | Feb 8, 2023 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 14, 2018 | |
| 2016 | Feb 15, 2017 | |
| 2015 | Feb 16, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.