Weatherford International Ltd.

EANS-Adhoc: Weatherford Reports Fourth Quarter and 2013 Annual Results

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
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Annual Reports/quarterly report
26.02.2014


-- Remediates Material Weakness for Income Tax Accounting; Reduces Net Debt by
$687 million and generates positive free cash flow of $298 million in the fourth
quarter 

GENEVA, Feb. 26, 2014 -- Weatherford International Ltd. (NYSE/Euronext
Paris/SIX: WFT)  reported net income of $53 million ($0.07 diluted earnings per
share on a non-GAAP basis),  before charges, on revenues of $3.74 billion for
the fourth quarter of 2013. For the year  ended December 31, 2013, Weatherford
reported full-year net income, before charges, of  $463 million ($0.60 diluted
earnings per share on a non-GAAP basis) on revenues of $15.26  billion.

(Logo: http://photos.prnewswire.com/prnh/19990308/WEATHERFORDLOGO )

Fourth Quarter 2013 Highlights


   -- Successful remediation of the long standing material weakness in income
      tax accounting; 
   -- Reduction in net debt by $687 million; 
   -- Positive free cash flow generation of $298 million (sequential
      improvement of $337 million), driven primarily by a reduction in working
      capital; and 
   -- Completion of the sale of our equity investment in Borets for $400
      million and collection of cash proceeds of $359 million in the fourth
      quarter.


end of ad-hoc-announcement
================================================================================
Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer
commented,  "While the fourth quarter results were disappointing, Weatherford is
now actively engaged  in transforming itself into a lean, deleveraged and
focused organization going into 2014.  Over the last few years, we have been
consumed with remediating the material weakness in  our tax accounting and
managing several governmental investigations. Now that we have  both of these
distractions behind us, we can focus fully on the future. We have defined  three
initiatives that will transform Weatherford.


    -- We will divest our non-core businesses. In the second half of 2013, we
       identified several non-core businesses that Weatherford had accumulated
       over the years that are not part of our future growth strategy. These
       included four businesses: pipeline and specialty services, testing and
       production services, drilling fluids and wellheads. We have focused
       teams working on each of the four divestitures and we expect to complete
       the cash sale of each business by the end of 2014. In addition to these
       four businesses, the IPO or spin-off of our land drilling rig business
       is expected to take place in Q4 2014 or Q1 2015. The cash proceeds from
       these transactions will be used to pay down debt. Finally, we expect to
       complete our legacy loss contracts in Iraq during 2014 and exit the
       early production facility ("EPF") business for good.

    -- We will reduce our cost base of our remaining core businesses, which
       includes our recently announced plan to reduce our worldwide employee
       headcount by 7,000 during the first half of this year with targeted
       annualized cost savings of $500 million. We have made significant
       progress on this front with 6,192 positions already identified for
       termination starting the end of the first quarter with estimated
       annualized cost savings of $466 million. There are other areas of cost
       reductions which will come from shutting down marginal business presence
       in certain markets that are uneconomic and drain cash. This effort is
       not expected to result in Weatherford's exit from any country as a whole
       and is not anticipated to materially reduce our infrastructure
       footprint.

    -- The third element of our transformation is linked to the first two.
       Once we divest the non-core businesses and reduce our remaining cost
       base, the entire management team will refocus on growing the core
       businesses retained by Weatherford and doing so at attractive cash
       incremental returns. The core includes well construction, formation
       evaluation, completion, stimulation and artificial lift. These
       businesses have good margins and did so even in 2013. The overall 2013
       operating income margin (before R&D and corporate expenses) was 11.2%.
       The operating income margin for our core businesses was 16.3% compared
       to a negative operating income margin of (6.9)% for the non-core
       businesses. Excluding the impact of the U.S. pressure pumping business,
       the core businesses generated an operating income margin of 18.9% in
       2013. These businesses have good capital intensity and capital return
       characteristics and we believe in their future. The U.S. pressure
       pumping business is being re-engineered and repaired and, with emerging
       market conditions, we should be able to improve our performance in this
       business in 2014.


In summary, Weatherford is committed to transforming itself in 2014 to emerge as
a leaner,  more efficient and stronger company, with high margin core product
lines, strategically  positioned and focused on growing them. We are also
committed to deleveraging the company  through a combination of proceeds from
divestitures and internally generated cash flow as  quickly and as much as we
can. Our medium-term objective is a 25% debt to capitalization  ratio.

My entire management team and I are determined to make the above happen. Our
direction is  clear. Execution is our single minded focus."

Fourth Quarter 2013 Results

Revenue for the fourth quarter of 2013 was $3.74 billion compared with $3.82
billion in  the third quarter of 2013 and $4.06 billion in the fourth quarter of
2012.

Net income for the fourth quarter of 2013, before charges, was $53 million
compared to  $177 million in the third quarter of 2013 and $8 million in the
fourth quarter of 2012.

The sequential decline in earnings was driven by:


    -- Extreme weather conditions in North America, Russia and the North Sea,
       adversely affecting activity; 
    -- Operational disruptions in the Middle East; 
    -- Capital discipline driven activity reductions in Latin America; and 
    -- A higher than normal tax rate of 45%, which included certain items that
       are expected to benefit future tax charges.


Reported net income on a GAAP basis for the fourth quarter of 2013 was a net
loss of $271  million, or ($0.35) per diluted share. After-tax charges for the
fourth quarter of $324  million included:

   -- $171 million, net of tax, associated with our legacy lump sum contracts
       in Iraq; 
   -- $96 million, net of tax, for charges related to the exchange of some of
       our Venezuela accounts receivable for bonds that were subsequently
       monetized and other accounts receivable write-offs; 
   -- $57 million, net of tax, in severance, exit and other charges.

Regional Highlights

- North America

North America revenues for the fourth quarter were $1.57 billion, down 2%
sequentially  and down 7% from the same quarter in the prior year. North America
revenue decreased  sequentially due to lower activity in the U.S. markets from
severe weather disruptions  impacting most of our service product lines. Product
sales from the Artificial Lift and  Completion product lines improved
sequentially. Fourth quarter operating income was flat  sequentially at $216
million (13.7% margin) despite the decline in revenues, and down $10  million,
or 4%, from the same quarter in the prior year.

- Middle East/North Africa/Asia Pacific

Fourth quarter revenues of $821 million were up $2 million sequentially, and
down $30  million, or 4%, from the same quarter in the prior year. The current
quarter's operating  income of $50 million (6.1% margin) decreased $19 million,
or 28%, sequentially and  decreased 14% from the same quarter in the prior year.
Short-term operational disruptions  in the Middle East during the fourth quarter
impacted our sequential operating income,  primarily in the Land Rig Drilling
and Well Construction product lines. 

- Europe/Sub-Sahara Africa/Russia

Fourth quarter revenues of $688 million were flat sequentially and 3% higher
than the  same quarter in the prior year. The sequential revenues were impacted
by seasonal  disruptions in Russia and the North Sea, which were offset by
improvements in other parts  of Europe and Sub-Sahara Africa. The current
quarter's operating income of $47 million  (6.8% margin) decreased $56 million,
or 54%, sequentially and declined 20% when compared  to the same quarter in the
prior year. Impacting the fourth quarter operating income is a  reduction in the
equity earnings of our investment in Borets that was sold early in the  fourth
quarter.

- Latin America

Fourth quarter revenues of $657 million were down $56 million, or 8%,
sequentially, and  down $199 million, or 23%, compared to the same quarter in
the prior year. The decline in  revenue in the fourth quarter was largely
related to capital discipline driven reductions  in certain markets. The fourth
quarter's operating income of $62 million (9.4% margin)  was down $53 million,
or 46%, lower sequentially and $63 million, or 50%, lower than the  same quarter
in the prior year. These deteriorations are consistent with the decline in 
revenues and driven mainly by our decision to reduce activity in certain markets
and  refocus on cash-driven growth opportunities elsewhere in the region. This
decision  resulted in lower activity for the Formation Evaluation, Stimulation
and Artificial Lift  product lines.

Liquidity and Free Cash Flow

Free cash flow improved by $337 million sequentially, driven by improvements in
working  capital as accounts receivable and inventory balances declined during
the fourth quarter.  Capital expenditures, net of lost-in-hole, increased 3%
sequentially and declined 29%  compared to the same quarter in the prior year.
Inventory levels were down for the third  consecutive quarter and contracted 6%
sequentially. Days sales in inventory decreased to  80 days from 83 days in the
prior quarter and was down seven days compared to the same  quarter in the prior
year. Days sales outstanding decreased seven days sequentially and  compared to
the same quarter in the prior year as all regions saw improvements in 
collections during the fourth quarter. Overall, working capital days were down
14 days  for the year.

Income Tax Material Weakness Remediation

During 2013, we completed the remediation of our material weakness in financial
reporting  for income taxes and concluded that our internal controls are
effective. We will continue  to focus on maintaining the system of internal
controls that was developed and  implemented over the last three years and make
enhancements as necessary.

Outlook

In 2014, we remain focused on achieving a step change in profitability by:


    -- Focusing the organization on growing our core businesses; 
    -- Making our cost base more efficient; 
    -- Divesting our non-core businesses and reducing our net debt.


We have completed the initial phase of our cost reduction initiatives and have
identified  6,192 positions for our reduction in workforce, with expected
annualized cost savings of  $466 million. This reduction remains on track to be
completed during the first half of  2014. Our strategic business reviews of
operations that do not have critical mass, are  currently unprofitable and are a
drain on our cash flow are well underway. We expect to  begin eliminating select
operations identified during these reviews in the second quarter  of 2014. We
expect these actions will bring additional costs savings, both in the form of 
headcount reductions and other savings. These additional headcount reductions
will enable  us to deliver fully on the 7,000 reduction target and approach the
$500 million  annualized cost savings targeted previously.

In 2014, we expect revenue growth in North America, Europe/Sub Sahara
Africa/Russia and  Middle East/North Africa/Asia Pacific regions while Latin
America is expected to decline  year over year. Overall margins will improve
with lower costs and the growth in our more  profitable core businesses. Based
on our current activity profile, and inclusive of the  already identified and
expected benefits from the cost reduction actions outlined above,  we reiterate
our most recent guidance and expect 2014 earnings per share (non-GAAP) to  range
between $1.10 and $1.20. Our effective tax rate is forecasted to be between 25%
and  35% and will depend on the geographical mix of earnings going forward.
Capital  expenditure for 2014 is targeted at 8% of revenue. The continued focus
on reducing  working capital coupled with improved earnings is expected to
generate positive free cash  flow of approximately $500 million for the year.
Given these targets and the divestiture  program, we expect net debt to approach
$7 billion by the end of the year.

Retirement of Board Member

The Company announces the retirement of former Secretary of the United States
Department  of the Treasury, Nicholas F. Brady, from its Board of Directors. Mr.
Brady's decision is  due to his numerous commitments which encumber his ability
to be present at overseas  Board meetings.

Mr. Brady has been a Director since 2004. He joined the Board of Directors
during a time  when the Company was in full development and established a large
international presence.  Later, Mr. Brady further helped lead the Company
through its most challenging years. His  adept leadership and considerable
experience have contributed fundamentally in guiding  the Company on its
transformational path.

The entire Company and its Board of Directors sincerely thank Mr. Brady for his
dedicated  and distinguished tenure at Weatherford. He has been a trusted
colleague and adviser  whose input and sound direction were invaluable.

Non-GAAP Performance Measures

Unless explicitly stated to the contrary, all performance measures used
throughout this  document are non-GAAP. Corresponding reconciliations to GAAP
financial measures have been  provided in the following pages to offer
meaningful comparisons between current results  and results in prior periods.

About Weatherford

Weatherford is a Swiss-based, multinational oilfield service company. It is one
of the  largest global providers of technology and services for the oil and gas
industry.  Weatherford operates in over 100 countries, and employs over 67,000
people worldwide. For  more information, visit www.weatherford.com 

Conference Call

The Company will host a conference call with financial analysts to discuss the
quarterly  results on February 26, 2014, at 8:30 a.m. eastern standard time
(EST), 7:30 a.m. central  standard time (CST). Weatherford invites investors to
listen to the call live via the  Company's website, www.weatherford.com in the
Investor Relations section. A recording of  the conference call and transcript
of the call will be available in that section of the  website shortly after the
call ends.

Forward-Looking Statements

This press release contains, and the conference call announced in this release
may  include, forward-looking statements within the meaning of the Private
Securities  Litigation Reform Act of 1995. These forward-looking statements
include, among other  things, the Company's non-GAAP earnings per share and the
size, timing and benefits of  the reduction in workforce, and are also generally
identified by the words "believe,"  "project," "expect," "anticipate,"
"estimate," "budget," "intend," "strategy," "plan,"  "guidance," "may,"
"should," "could," "will," "would," "will be," "will continue," "will  likely
result," and similar expressions, although not all forward-looking statements 
contain these identifying words. Such statements are based upon the current
beliefs of  Weatherford's management, and are subject to significant risks,
assumptions and  uncertainties. Should one or more of these risks or
uncertainties materialize, or  underlying assumptions prove incorrect, actual
results may vary materially from those  indicated in our forward-looking
statements. Readers are also cautioned that forward- looking statements are only
predictions and may differ materially from actual future  events or results due
to the Company's ability to implement workforce reductions in  various
geographies; possible changes in the size and components of the expected costs 
and charges associated with the workforce reduction; and risks associated with
the  Company's ability to achieve the benefits of the planned workforce
reduction. Forward- looking statements also are affected by the risk factors
described in the company's  Annual Report on Form 10-K for the year ended
December 31, 2013, and those set forth from  time-to-time in other filings with
the Securities and Exchange Commission ("SEC"). We  undertake no obligation to
correct or update any forward-looking statement, whether as a  result of new
information, future events, or otherwise, except to the extent required  under
federal securities laws.




                             Weatherford International Ltd.
                    Consolidated Condensed Statements of Operations
                                      (Unaudited)
                     (Stated in Millions, Except Per Share Amounts)


                  Three Months Ended             Year Ended
               12/31/2013    12/31/2012    12/31/2013    12/31/2012
               ----------    ----------    ----------    ----------
Net Revenues:
North America     $1,572        $1,682        $6,390        $6,824
Middle East/

 North Africa/
 Asia                821           851         3,344         2,795
Europe/
 SSA/

 Russia              688           669         2,693         2,519
Latin America        657           856         2,836         3,077
                   3,738         4,058        15,263        15,215
                   -----         -----        ------        ------

Operating Income

 (Expense):
North America        216           226           822         1,107
Middle East/
 North Africa/
 Asia                 50            58           230           171
Europe/
 SSA/

 Russia               47            59           298           315
Latin America         62           125           365           395
Research and
 Development         (63)          (63)         (266)         (257)
Corporate
 Expenses            (58)          (49)         (200)         (196)

Goodwill and
 Equity
 Investment
 Impairment            -             -             -          (793)
U.S.
 Government
 Investigation

 Loss                  -             -          (153)         (100)
Other Items         (304)         (111)         (573)         (344)
                     (50)          245           523           298

Other Income

 (Expense):
Interest
 Expense, Net       (128)         (126)         (516)         (486)
 Devaluation
 of Venezuelan

 Bolivar               -             -          (100)            -
Other, Net           (16)          (30)          (77)         (100)

Net Income (Loss)
 Before Income
 Taxes              (194)           89          (170)         (288)

 Provision for
 Income Taxes        (70)         (203)         (144)         (462)

Net Loss            (264)         (114)         (314)         (750)
Net Income

 Attributable
 to Noncontrolling
 Interests            (7)           (8)          (31)          (28)
Net Loss
 Attributable

 to Weatherford    $(271)        $(122)        $(345)        $(778)
                    =====         =====         =====         =====

Income (Loss) 

 Per Share
 Attributable
 to Weatherford:

Basic             $(0.35)       $(0.16)       $(0.45)       $(1.02)
Diluted           $(0.35)       $(0.16)       $(0.45)       $(1.02)

Weighted Average
 Shares
 Outstanding:
Basic                774           768           772           765
Diluted              774           768           772           765


                         Weatherford International Ltd.
                  Selected Statements of Operations Information
                                   (Unaudited)
                              (Stated In Millions)

                                    Three Months Ended
                                    ------------------
               12/31/2013   9/30/2013   6/30/2013    3/31/2013     12/31/2012
               ----------   ---------   ---------    ---------     ----------
Net Revenues:
North America     $1,572      $1,597      $1,529       $1,692         $1,682
Middle East/
 North
 Africa/ Asia        821         819         919          785            851
Europe/SSA/
 Russia              688         691         681          633            669
Latin America        657         713         739          727            856
                     ---         ---         ---          ---            ---
                  $3,738      $3,820      $3,868       $3,837         $4,058
                   ======      ======      ======       ======         ======

                                     Three Months Ended
                                     ------------------
               12/31/2013   9/30/2013    6/30/2013    3/31/2013    12/31/2012
               ----------   ---------    ---------    ---------    ----------
Operating
 Income
 (Expense):
North America      $216         $215        $167         $224           $226
Middle East/
 North
 Africa/Asia         50           69          66           45             58
Europe/SSA/
 Russia              47          103          83           65             59
Latin America        62          115          90           98            125
Research and
 Development        (63)         (65)        (71)         (67)           (63)
Corporate
 Expenses           (58)         (45)        (49)         (48)           (49)
U.S.
 Government
 Investigation
 Loss                 -            -        (153)           -              -
Other Items        (304)        (153)        (78)         (38)          (111)
                   ----         ----         ---          ---           ----
                   $(50)        $239         $55         $279           $245
                   ====         ====         ===         ====           ====

                                     Three Months Ended
                                     ------------------
               12/31/2013   9/30/2013    6/30/2013    3/31/2013    12/31/2012
               ----------   ---------    ---------    ---------    ----------
Product Line
 Revenues:
Formation

 Evaluation
 and Well
 Construction
 (1)              $2,307      $2,330       $2,361       $2,273        $2,348
Completion
 and 

 Production (2)    1,431       1,490        1,507        1,564         1,710
                  $3,738      $3,820       $3,868       $3,837        $4,058
                  ======      ======       ======       ======        ======

                                     Three Months Ended
                                     ------------------
               12/31/2013   9/30/2013    6/30/2013    3/31/2013    12/31/2012
               ----------   ---------    ---------    ---------    ----------
Depreciation
 and
 Amortization:

North America       $106        $108         $102         $108          $108
Middle East/
 North

 Africa/Asia         104         101           98           93            94
Europe/SSA/
 Russia               78          69           68           71            71
Latin America         69          71           68           68            63
Research and
 Development
 and
 Corporate             6           3            5            6             7
                     ---         ---          ---          ---           ---
                    $363        $352         $341         $346          $343
                    ====        ====         ====         ====          ====


1)    Formation Evaluation and Well Construction includes Controlled-Pressure
      Drilling and Testing, Drilling Services, Tubular Running services,
      Drilling Tools, Integrated Drilling, Wireline Services, Re-entry and
      Fishing, Cementing, Liner Systems, Integrated Laboratory Services and
      Surface Logging.
2)    Completion and Production includes Artificial Lift Systems, Stimulation
      and Chemicals, Completion Systems and Pipeline and Specialty Services.

    We report our financial results in accordance with U.S. generally accepted
    accounting principles (GAAP). However, Weatherford's management believes
    that certain non-GAAP financial measures and ratios (as defined under the
    SEC's Regulation G) may provide users of this financial information,
    additional meaningful comparisons between current results and results of
    prior periods. The non-GAAP amounts shown below should not be considered
    as substitutes for operating income, provision for income taxes, net income
    or other data prepared and reported in accordance with GAAP, but should be
    viewed in addition to the Company's reported results prepared in accordance
    with GAAP.





                              Weatherford International Ltd.
                  Reconciliation of GAAP to Non-GAAP Financial Measures
                                       (Unaudited)
                      (Stated In Millions, Except Per Share Amounts)

                                 Three Months Ended
                                 ------------------
                    12/31/2013        9/30/2013        12/31/2012
                    ----------        ---------        ----------

Operating Income:
GAAP Operating
 Income                  $(50)            $239              $245
  Goodwill and
   Equity
   Investment
   Impairment                -               -                 -
  Legacy
   Contracts (a)           168             107                30
  U.S. Government
   Investigation
   Loss                      -               -                 -
  Accounts
   Receivable
   Reserves and

   Write-offs               98               -                 -
  Severance                 30              20                 5
  Tax Remediation

   and
   Restatement
   Expenses                  2               8                50
  Investigation
   Related

   Expenses                  5               8                10
  Other
   Adjustments               1              10                16
Non-GAAP
 Operating Income         $254            $392              $356
                          ====            ====              ====

Income Before Income

 Taxes:
GAAP Income
 (Loss) Before
 Income Taxes            $(194)            $80               $89
  Operating
   Income
   Adjustments             304             153               111
  Devaluation of
   Venezuelan

   Bolivar                   -               -                 -
  Other
   Adjustments               -               -                 -
Non-GAAP
 Income Before
 Income Taxes             $110            $233              $200
                          ====            ====              ====

Provision for

 Income Taxes:
GAAP Provision
 for Income Taxes         $(70)           $(49)            $(203)
Non-GAAP
 Provision for
 Income Taxes              (50)            (47)             (184)

Net Income
 Attributable
 to Weatherford:
GAAP Net Income
 (Loss)                  $(271)            $22             $(122)
  Goodwill and
   Equity
   Investment
   Impairment                -               -                 -
  Legacy
   Contracts (a)           171             113                64
  U.S. Government
   Investigation
   Loss                      -               -                 -
  Devaluation of
   Venezuelan
   Bolivar                  33               -                 -
  Accounts
   Receivable
   Reserves and

   Write-offs               96               -                 -
  Severance                 25              17                 4
  Tax Remediation

   and Restatement
   Expenses                 (2)              7                43
  Investigation
   Related

   Expenses                  2              10                 7
  Other Adjustments         (1)              8                12
  Total Charges,
   net of tax              324             155               130
Non-GAAP Net Income        $53            $177                $8
                           ===            ====               ===
Diluted

 Earnings Per Share
 Attributable to
 Weatherford:
GAAP Diluted
 Earnings

 (Loss) per Share       $(0.35)          $0.03            $(0.16)
  Total Charges,
   net of tax             0.42            0.20              0.17
Non-GAAP
 Diluted Earnings
 per Share               $0.07           $0.23             $0.01
                         =====           =====             =====

GAAP Effective
 Tax Rate (b)             (36)%             61%              228%
Annual
 Effective Tax
 Rate (c)                  45%              20%               92%


                                      Year Ended
                                      ----------
                            12/31/2013         12/31/2012
                            ----------         ----------
Operating Income:

GAAP Operating
 Income                        $523                  $298
  Goodwill and
   Equity
   Investment

   Impairment                     -                   793
  Legacy
   Contracts (a)                299                   137
  U.S. Government

   Investigation
   Loss                         153                   100
  Accounts
   Receivable
   Reserves and

   Write-offs                    98                     -
  Severance                      94                    45
  Tax Remediation

   and
   Restatement
   Expenses                      37                   103
  Investigation
   Related

   Expenses                      30                    13
  Other
   Adjustments                   15                    46
Non-GAAP
 Operating
 Income                      $1,249                $1,535
                             ======                ======

Income Before

 Income Taxes:
GAAP Income
 (Loss) Before
 Income Taxes                 $(170)                $(288)
  Operating
   Income
   Adjustments                  726                 1,237
  Devaluation of
   Venezuelan

   Bolivar                      100                    -
  Other
   Adjustments                   -                    (3)
Non-GAAP
 Income Before
 Income Taxes                  $656                  $946
                               ====                  ====

Provision for

 Income Taxes:
GAAP Provision
 for Income
 Taxes                        $(144)                $(462)
Non-GAAP
 Provision for

 Income Taxes                  (162)                 (471)

Net Income
 Attributable to

 Weatherford:
GAAP Net Income
 (Loss)                       $(345)                $(778)
  Goodwill and
   Equity
   Investment

   Impairment                    -                   792
  Legacy
   Contracts (a)                323                   171
  U.S. Government

   Investigation
   Loss                         153                    99
  Devaluation of
   Venezuelan
   Bolivar                       94                    -
  Accounts
   Receivable
   Reserves and

   Write-offs                    96                    -
  Severance                      73                    39
  Tax Remediation

   and
   Restatement
   Expenses                      28                    87
  Investigation
   Related

   Expenses                      23                     9
  Other
   Adjustments                   18                    28
  Total Charges,
   net of tax                   808                 1,225
Non-GAAP Net Income            $463                  $447
                               ====                  ====
Diluted

 Earnings Per Share
 Attributable to
 Weatherford:
GAAP Diluted
 Earnings

 (Loss) per Share            $(0.45)               $(1.02)
  Total Charges,
   net of tax                  1.05                  1.60
Non-GAAP
 Diluted
 Earnings per Share           $0.60                 $0.58
                              =====                 =====

GAAP Effective
 Tax Rate (b)                   (85)%                (160)%
Annual

 Effective Tax
 Rate (c)                        25%                   50%



    Note (a): The revenues associated with the legacy lump sum contracts in\
              Iraq were $52 million, $80 million and $178 million for the three
              months ended 12/31/2013, 9/30/2013 and 12/31/2012 and $512
              million and $360 million for the years ended 12/31/2013 and 2012,
              respectively. 

    Note (b): GAAP Effective Tax Rate is GAAP provision for income taxes
              divided by GAAP income before income taxes. 

    Note (c): Annual Effective Tax Rate is the Non-GAAP provision for income

              taxes divided by Non GAAP income before income taxes.





                       Weatherford International Ltd.
                         Selected Balance Sheet Data
                                 (Unaudited)
                            (Stated In Millions)

                        12/31/2013         9/30/2013         6/30/2013
                        ----------         ---------         ---------
Assets:
Cash and Cash
 Equivalents                 $435              $316              $295
Accounts
 Receivable, Net            3,594             4,004             3,837
Inventories, Net            3,371             3,580             3,637
Property, Plant and
 Equipment, Net             8,368             8,397             8,333
Goodwill and
 Intangibles, Net           4,335             4,421             4,402
Equity Investments            296               686               671

Liabilities:
Accounts Payable            2,091             2,117             2,144
Short-term

 Borrowings and
 Current Portion of
 Long-term Debt             1,666             2,230             2,148
Long-term Debt              7,061             7,065             7,087






                             3/31/2013        12/31/2012
                             ---------        ----------
Assets:
Cash and Cash
 Equivalents                     $286              $300
Accounts
 Receivable, Net                3,850             3,885
Inventories, Net                3,744             3,675
Property, Plant and
 Equipment, Net                 8,299             8,299
Goodwill and
 Intangibles, Net               4,485             4,637
Equity Investments                660               646

Liabilities:
Accounts Payable                2,191             2,108
Short-term

 Borrowings and
 Current Portion of
 Long-term Debt                 1,896             1,585
Long-term Debt                  7,032             7,049






                      Weatherford International Ltd.
                                 Net Debt
                               (Unaudited)
                           (Stated In Millions)


Change in Net Debt for
 the Three Months Ended
 12/31/2013:

Net Debt at 9/30/2013                                 $(8,979)
  Operating Income                                        (50)
  Depreciation and
   Amortization                                           363
  Capital Expenditures                                   (364)
  Decrease in Working
   Capital                                                401
  Income Taxes Paid                                      (106)
  Interest Paid                                           (83)
  Acquisitions and
   Divestitures of Assets

   and Businesses, Net                                    413
  Net Change in Billing
   in Excess/Costs in

   Excess                                                  11
  Other                                                   102
Net Debt at 12/31/2013                                $(8,292)
                                                       =======


Change in Net Debt for
 the Year Ended
 12/31/2013:

Net Debt at 12/31/2012                                $(8,334)
  Operating Income                                        523
  Depreciation and
   Amortization                                         1,402
  Capital Expenditures                                 (1,575)
  Decrease in Working
   Capital                                                186
  Income Taxes Paid                                      (442)
  Interest Paid                                          (525)
  Acquisitions and

   Divestitures of Assets
   and Businesses, Net                                    480
  Net Change in Billing
   in Excess/Costs in

   Excess                                                (179)
  Other                                                   172
                                                          ---
Net Debt at 12/31/2013                                $(8,292)
                                                       =======


Components of Net Debt           12/31/2013   9/30/2013   12/31/2012
                                 ----------   ---------   ----------
  Cash                                $435        $316         $300
  Short-term Borrowings
   and Current Portion of
   Long-term Debt                   (1,666)     (2,230)      (1,585)
  Long-term Debt                    (7,061)     (7,065)      (7,049)
                                     ------      ------       ------
  Net Debt                         $(8,292)    $(8,979)     $(8,334)

                                    =======     =======      =======

 "Net Debt" is debt less cash. Management believes that Net Debt provides 
  useful information regarding the level of Weatherford
  indebtedness by reflecting cash that could be used to repay debt.

  Working capital is defined as accounts receivable plus inventory less
  accounts payable.

  We report our financial results in accordance with U.S. generally accepted
  accounting principles (GAAP). However, Weatherford's management believes
  that certain non-GAAP financial measures and ratios (as defined under
  the SEC's Regulation G) may provide users of this financial information,
  additional meaningful comparisons between current results and results of
  prior periods. The non-GAAP amounts shown below should not be considered
  as substitutes for cash flow information prepared and reported in
  accordance with GAAP, but should be viewed in addition to the Company's
  reported cash flow statements prepared in accordance with GAAP.




                               Weatherford International Ltd.
                                   Selected Cash Flow Data
                                         (Unaudited)
                                    (Stated In Millions)


                                 Three Months Ended
                                 ------------------
                      12/31/2013     9/30/2013     12/31/2012
                      ----------     ---------     ----------
  Net Cash
   Provided by
   Operating

   Activities              $662          $326           $705

  Less:
   Capital 
   Expenditures for
   Property,
   Plant and

   equipment               (364)         (365)          (507)


  Free Cash Flow           $298          $(39)          $198
                           ====           ====          ====


                                   Year Ended
                                   ----------
                          12/31/2013           12/31/2012
                          ----------            ----------
  Net Cash

   Provided by
   Operating
   Activities                $1,229               $1,221

  Less:
   Capital
   Expenditures for
   Property,
   Plant and

   equipment                 (1,575)              (2,177)


  Free Cash Flow              $(346)               $(956) 
                               =====                =====



Free cash flow is defined as net cash provided by or used in operating
activities less capital expenditures.  Free cash flow is an important
indicator of how much cash is generated or used by our normal business
operations, including capital expenditures.  Management uses free cash flow
as a measure of progress on its capital efficiency and cash flow
initiatives.

SOURCE  Weatherford International Ltd.

Further inquiry note:
Contacts: Krishna Shivram, Executive Vice President and Chief Financial Officer,
+1.713.836.4610; Karen David-Green, Vice President - Investor Relations,
+1.713.836.7430

end of announcement                               euro adhoc 
--------------------------------------------------------------------------------


issuer:      Weatherford International Ltd.
             Rue Jean-Francois Bartholoni 4-6
             CH-1204 Geneva
phone:       +41.22.816.1500
FAX:         +41.22.816.1599
mail:     karen.david-green@weatherford.com
WWW:      http://www.weatherford.com
sector:      Oil & Gas - Upstream activities
ISIN:        CH0038838394
indexes:     
stockmarkets: Main Standard: SIX Swiss Exchange, stock market: New York, Euronext
             Paris 
language:   English
 

 


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