UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International plc (Exact Name of Regi ...

| UNITED STATES | | --- | | SECURITIES AND EXCHANGE COMMISSION | | WASHINGTON, D.C. 20549 | | (Mark One) Form 10-Q | | ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the quarterly period ended June 30, 2020 | | or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the transition period from __________________________________to __________________________________ | | Commission file number 001-36504 | | Weatherf ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements.) The unaudited statements show a significant net loss and asset impairments, raising substantial doubt about the company's going concern status Condensed Consolidated Statements of Operations | (Dollars in millions, except per share) | Three Months Ended 3/31/2020 (Successor) | Three Months Ended 3/31/2019 (Predecessor) | | :--- | :--- | :--- | | **Total Revenues** | $1,215 | $1,346 | | **Operating Loss** | $(822) | $(301) | | **Net Loss Attributable to Weatherford** | $(966) | $(481) | | **Basic & Diluted Loss Per Share** | $(13.80) | $(0.48) | Condensed Consolidated Balance Sheet Summary | (Dollars in millions) | 3/31/2020 | 12/31/2019 | | :--- | :--- | :--- | | **Total Current Assets** | $3,374 | $3,453 | | **Total Assets** | $6,165 | $7,293 | | **Total Current Liabilities** | $1,644 | $1,672 | | **Total Liabilities** | $4,302 | $4,377 | | **Total Shareholders' Equity** | $1,863 | $2,916 | Condensed Consolidated Statements of Cash Flows Summary | (Dollars in millions) | Three Months Ended 3/31/2020 (Successor) | Three Months Ended 3/31/2019 (Predecessor) | | :--- | :--- | :--- | | **Net Cash Provided by (Used in) Operating Activities** | $30 | $(249) | | **Net Cash Provided by (Used in) Investing Activities** | $(47) | $36 | | **Net Cash Provided by (Used in) Financing Activities** | $(8) | $208 | - The company recorded significant **long-lived asset impairments of $640 million** and **goodwill impairments of $167 million** during Q1 2020[38](index=38&type=chunk) - Management raises **substantial doubt about the Company's ability to continue as a going concern** within the next 12 months[23](index=23&type=chunk)[28](index=28&type=chunk)[30](index=30&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) The company's performance was severely impacted by the pandemic and oil market turmoil, leading to revenue decline and cost-cutting measures - The company's outlook is materially negative due to the dual impact of the **COVID-19 pandemic** and **OPEC+ actions** creating an oversupply of oil[101](index=101&type=chunk)[102](index=102&type=chunk)[104](index=104&type=chunk) - In response to the market crisis, Weatherford has implemented aggressive cost-saving actions, including a **20% pay reduction for management** and a **50% cut in planned 2020 capital expenditures**[107](index=107&type=chunk) - Despite cost-saving measures, the company expects a forthcoming **breach of its ABL Revolving Credit Agreement covenants**, raising substantial doubt about its ability to continue as a going concern[105](index=105&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) Segment Performance vs. Prior Year | (Dollars in millions) | Q1 2020 Revenues | Q1 2019 Revenues | % Change | Q1 2020 Operating Income | Q1 2019 Operating Income | | :--- | :--- | :--- | :--- | :--- | :--- | | **Western Hemisphere** | $588 | $726 | (19)% | $29 | $9 | | **Eastern Hemisphere** | $627 | $620 | 1% | $18 | $20 | | **Total Segments** | **$1,215** | **$1,346** | **(10)%** | **$47** | **$29** | - Total revenues for Q1 2020 were **$1.2 billion, a 10% decrease** from Q1 2019, primarily driven by a **19% decline in the Western Hemisphere**[121](index=121&type=chunk)[129](index=129&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company's market risk exposure has not materially changed, except for a significant decrease in the fair value of its debt - There have been no material changes in market risk exposure since year-end 2019, other than a significant decrease in the **fair value of the company's debt**, which fell from **$2,252 million to $1,260 million**[177](index=177&type=chunk)[69](index=69&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls during the quarter - The CEO and CFO concluded that the company's **disclosure controls and procedures were effective** as of March 31, 2020[178](index=178&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[179](index=179&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings.) Ongoing litigation matters, including shareholder and patent lawsuits, have been delayed due to the COVID-19 pandemic - Details regarding ongoing legal proceedings are provided in **Note 12** of the financial statements[181](index=181&type=chunk) - The company is involved in shareholder litigation, and many ongoing matters have been **delayed due to court closures** from the COVID-19 pandemic[73](index=73&type=chunk)[75](index=75&type=chunk)[78](index=78&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors.) The COVID-19 pandemic has severely impacted demand and liquidity, with an expected debt covenant breach threatening going concern status - The **COVID-19 pandemic** has significantly weakened demand and is expected to continue to have a **substantial negative impact** on financial condition[184](index=184&type=chunk) - The company expects to **breach covenants** under its ABL Revolving Credit Agreement within the next twelve months, which raises **substantial doubt about its ability to continue as a going concern**[191](index=191&type=chunk)[192](index=192&type=chunk) - A breach of covenants could trigger an event of default, leading to an **acceleration of debt obligations** and potentially forcing the company into bankruptcy or liquidation[196](index=196&type=chunk)[198](index=198&type=chunk) - The company faces **extremely limited access to additional financing** beyond its existing credit agreements[191](index=191&type=chunk)[194](index=194&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reports no unregistered sales of equity securities during the reporting period - None[198](index=198&type=chunk) [Defaults Upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reports no defaults upon senior securities during the reporting period - None[199](index=199&type=chunk) [Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) This section is not applicable as the company has no mining operations - Not applicable[200](index=200&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information.) Presentation materials used in discussions with senior note holders are filed as exhibits with this report - Presentation materials used in discussions with holders of unsecured senior notes are filed as **Exhibits 99.1 and 99.2**[201](index=201&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits.) This section lists all exhibits filed with the report, including certifications and presentation materials - Lists all exhibits filed with the report, including **Sarbanes-Oxley certifications** (Exhibits 31.1, 31.2, 32.1, 32.2) and presentation materials (Exhibits 99.1, 99.2)[203](index=203&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International plc (Exact name of registrant as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International public limited company ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International public limited company (Exac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) Form 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International public limited company (Exa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International public limited company (Exact na ...