Weatherford International Ltd.

EANS-Adhoc: Weatherford Reports First Quarter 2014 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/3-month report
25.04.2014


GENEVA, Switzerland, April 24, 2014  -- Weatherford International Ltd.
(NYSE/Euronext Paris/SIX: WFT) reported net income before charges of $99
million, ($0.13 diluted earnings per share on a non-GAAP basis) on revenues of
$3.60 billion for the first quarter of 2014. 

Photo - http://photos.prnewswire.com/prnh/19990308/WEATHERFORDLOGO

end of ad-hoc-announcement

================================================================================
First Quarter 2014 Highlights

    --  Operating income margins improved 115 basis points sequentially with
        international margins improving 278 basis points over the fourth
        quarter;
    --  Executed our plan to reduce the cost base of our core business. To date,
        we have identified over 6,600 positions for elimination, and during the
        first quarter we completed approximately 56% of our planned reduction in
        workforce with an estimated pre-tax annualized savings of $263 million
        for the positions already eliminated;
    --  Started the process of closing 20 underperforming operating locations in
        various countries, and identified an additional 30 operating locations
        to begin closing during the second quarter; and
    --  Entered into an agreement to sell our pipeline and specialty services
        business for a total consideration of $250 million, including $241
        million in cash and $9 million in retained working capital.

Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer
commented, "We have amassed an outstanding industrial core, supported by the
quality of our management and employees. For 2014, we have established
reasonable objectives grounded on careful assessment and steadfast focus on
three clear actions: Core, Cost and Cash. Weatherford has implemented measures
needed to leverage and further develop our industrial core, placing us on a
long-term financially rewarding path. Weatherford's industrial might will again
reemerge to the greater benefit of our customers, employees and all our
stakeholders. Our direction is as simple as it is committed by all. The whole
organization understands this, and we are focused on three principal themes:

 --  Core: Despite the adverse impacts of extreme weather related activity
        reductions, mainly across the U.S. and Russia and our self-imposed
        capital discipline driven activity reductions in Venezuela, our core
        business operating income margins were 15.1% for the quarter,
        re-emphasizing the overall strong attributes of our core businesses.
        This compared with 15.2% for the fourth quarter of 2013. Sequentially,
        our product sales businesses (Artificial Lift and Completions) declined
        slightly from the fourth quarter after the normal year-end surge in
        sales. Pressure pumping revenue improved measurably as more fleets were
        contracted in the U.S., reflecting our internal consolidation efforts
        and improving customer demand. Well Construction and Formation
        Evaluation were affected in part by the adverse weather conditions. We
        see strong growth in our core businesses in the balance of the year.
    --  Cost: We have made significant progress on our headcount reduction plan
        in the first quarter with the remaining to be substantially completed in
        the second quarter. The cost savings will materially help results
        starting from the second quarter. In addition, the process of
        identifying and exiting underperforming operating locations has begun in
        earnest. While these restructuring actions will involve one-time
        severance and restructuring costs, the end result will be a leaner and
        fitter company, better equipped to deliver higher margins with top line
        growth.
    --  Cash: While our net debt increased in the first quarter, we fully expect
        to deliver positive free cash flow from operations of $500 million this
        year, and reduce net debt to $7 billion by year end. The first quarter
        performance included one-time payments including $253 million to settle
        our U.S. government investigations, severance associated with our
        headcount reduction program and cash consumed by our Zubair EPF project
        in Iraq, coupled with a seasonal slowdown in customer collections. Going
        forward, the severance and restructuring cash payments should
        substantially end by mid-year, and the Zubair EPF project cash flow will
        improve with customer reimbursements. Our divestiture efforts are
        already bearing fruit this year. In the first quarter, we announced the
        signing of an agreement to sell the first of our non-core businesses,
        pipeline and specialty services, for $250 million, which we expect to
        close after customary regulatory approvals. The process of divesting our
        testing and production services business is well under way and buyer
        interest is strong while the other non-core business divestitures are on
        schedule. In summary, Weatherford is moving steadfastly along the plan
        we outlined at the beginning of the year, and we are confident of
        executing our plan successfully."


First Quarter 2014 Results


Revenue for the first quarter of 2014 was $3.60 billion compared with $3.74
billion in the fourth quarter of 2013 and $3.84 billion in the first quarter of
2013. Net loss for the first quarter of 2014 was $41 million, or $0.05 loss per
diluted share. After-tax charges for the first quarter of $140 million included:

   --  $71 million, net of tax, primarily associated with severance and exit

        costs related to our workforce reduction and the shutdown of loss making
        businesses in certain markets;
    --  $47 million, net of tax, associated with our legacy lump sum contracts
        in Iraq; and
    --  $22 million of professional fees and other costs, net of tax, largely
        associated with our divestiture program, year-end income tax material
        weakness remediation and our previously announced redomiciliation
        activities.


Net income on a non-GAAP basis for the first quarter of 2014 was $99 million
compared to $53 million in the fourth quarter of 2013 and $117 million in the
first quarter of 2013.

Sequential operating income growth was driven by:


    --  Latin America, due to the completion of lower margin project work in
        Mexico, and a continued focus on higher margin activity in Argentina and
        Brazil;
    --  Europe/Sub-Sahara Africa/Russia as increases in activity in the North
        Sea and Caspian along with new work in Sub-Sahara Africa more than
        offset a larger-than-normal seasonal decline in Russia;
    --  Middle East/North Africa/Asia Pacific where improvements, primarily in
        the Gulf Countries, offset the seasonal decline in China and Australia;
        and
    --  Partially offsetting these improvements was unusually harsh winter
        weather in the U.S. that negatively impacted our activity levels.


Regional Highlights

    -- North America

First quarter revenues of $1.61 billion were up $38 million or 2% sequentially,
and down $82 million, or 5%, from the same quarter in the prior year. First
quarter operating income of $201 million (12.5% margin) declined 7% sequentially
and 10% from the same quarter in the prior year. The sequential revenue
improvement reflects stronger seasonal activity in Canada more than offsetting
severe weather related weakness in the U.S. On a product service line basis, the
revenue improvements came mainly from Stimulation, Formation Evaluation and
Completions. The sequential operating income deterioration stems mainly from the
weather related activity shortfalls in the U.S. which were partially mitigated
by an improvement in the operating income margins in Canada.

    -- Middle East/North Africa/Asia Pacific

First quarter revenues of $781 million were down $40 million or 5% sequentially,
and down $4 million, or 1%, from the same quarter in the prior year. First
quarter operating income of $54 million (6.9% margin) increased 8% sequentially
and increased 20% from the same quarter in the prior year. The sequential
revenue decline is typical of seasonal effects in China and Australia, and the
recovery of operating income is attributable to the re-start of certain
operations in the Middle East after some disruptions temporarily halted activity
during the fourth quarter, which primarily impacted our Land Rig Drilling
product line. 

    -- Europe/Sub-Sahara Africa/Russia

First quarter revenues of $664 million were down $24 million or 3% sequentially,
and up $31 million, or 5%, higher than the same quarter in the prior year. First
quarter operating income of $54 million (8.1% margin) increased $7 million, or
15%, sequentially and declined 17% when compared to the same quarter in the
prior year. The sequential revenues and operating income margins were affected
by activity stoppages with the severe winter conditions in Russia, which were
partly offset by improvements in Europe and Sub-Sahara Africa. 

    -- Latin America

First quarter revenues of $541 million were down $116 million or 18%
sequentially, and down $186 million, or 26%, from the same quarter in the prior
year. First quarter operating income of $93 million (17.2% margin) was up $31
million, or 50% sequentially, and down $5 million, or 5%, compared to the same
quarter in the prior year. The decline in revenue in the first quarter was
largely related to the completion of project work in Mexico, and the continued
impact of our capital discipline driven activity reductions in Venezuela. The
sequential margin growth is due to the completion of lower margin project work
in Mexico and a continued focus on higher margin activity in Argentina and
Brazil. 


Net Debt

Net debt increased by $673 million, reflecting mainly the payment of $253
million to settle our U.S. government investigations, capital expenditures of
$286 million (net of lost-in-hole) and the seasonal impact on working capital
balances.

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; and
    --  Divesting our non-core businesses and reducing our net debt.


We have completed the initial phase of our cost reduction initiatives, and have
identified over 6,600 positions for our reduction in workforce, with expected
annualized pre-tax cost savings of approximately $450 million. This reduction
remains on track to be substantially 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
have already started eliminating select operating locations identified during
these reviews and will continue to do so during the next two quarters. 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 fully deliver on the 7,000 reduction target and achieve our $500 million
targeted annualized pre-tax cost savings. 

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 and projected activity profile, and inclusive of the already identified
and expected benefits from the cost reduction actions outlined above, we
re-affirm 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 30% and will depend on the geographical mix of
earnings going forward. Capital expenditures are estimated at $1.3 billion for
2014 and include core and non-core product lines until the divestitures are
complete. The continued focus on reducing working capital coupled with improved
earnings is expected to generate positive free cash flow from operations of
approximately $500 million for the year. Given these targets and the divestiture
program, we expect net debt to reduce to $7 billion by the end of the year.

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 64,000
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 April 25, 2014, at 8:30 a.m. eastern daylight time (EDT),
7:30 a.m. central daylight time (CDT). 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.




Contacts:       Krishna Shivram                        +1.713.836.4610
                Executive Vice President and
                Chief Financial Officer

                Karen David-Green                      +1.713.836.7430
                Vice President -Investor
                Relations


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 annual non-GAAP earnings per share,
effective tax rate, free cash flow, net debt, capital expenditures 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
                                             3/31/2014             3/31/2013
                                             ---------             ---------
Net Revenues:
  North America                             $1,610               $1,692
  Middle East/North Africa/Asia                781                  785
  Europe/SSA/Russia                            664                  633
  Latin America                                541                  727
    Total Net Revenues                       3,596                3,837
                                             -----                -----

Operating Income (Expense):
  North America                                201                  224
  Middle East/North Africa/Asia                 54                   45
  Europe/SSA/Russia                             54                   65
  Latin America                                 93                   98
  Research and Development                     (69)                 (67)
  Corporate Expenses                           (47)                 (48)
  Restructuring Charges                        (70)                  -
  Other Items                                  (86)                 (38)
    Total Operating Income                     130                  279

Other Income (Expense):
  Interest Expense, Net                       (126)                (131)
  Devaluation of Venezuelan Bolivar             -                 (100)
  Other, Net                                    (9)                 (13)

Net Income (Loss) Before Income
 Taxes                                          (5)                  35

Provision for Income Taxes                     (27)                  (5)

Net Income (Loss)                              (32)                  30
Net Income Attributable to
 Noncontrolling Interests                       (9)                  (8)
                                               ---
Net Income (Loss) Attributable to
 Weatherford                                  $(41)                 $22
                                              ====                  ===

Income (Loss) Per Share Attributable
 to Weatherford:
  Basic                                     $(0.05)               $0.03
  Diluted                                   $(0.05)               $0.03

Weighted Average Shares Outstanding:
  Basic                                        776                  769

  Diluted                                      776                  773








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


                                      Three Months Ended
                          3/31/2014            12/31/2013             9/30/2013
Net Revenues:
North America            $1,610                $1,572                $1,597
Middle East/
 North
 Africa/Asia                781                   821                   819
Europe/SSA/
 Russia                     664                   688                   691
Latin America               541                   657                   713
    Total Net
     Revenues            $3,596                $3,738                $3,820
                         ======                ======                ======

                                   Three Months Ended
                        3/31/2014          12/31/2013           9/30/2013

Operating
 Income
 (Expense):
North America              $201                  $216                  $215
Middle East/
 North

 Africa/Asia                 54                    50                    69
Europe/SSA/
 Russia                      54                    47                   103
Latin America                93                    62                   115
Research and
 Development                (69)                  (63)                  (65)
Corporate
 Expenses                   (47)                  (58)                  (45)
Restructuring

 Charges                    (70)                   -                    -
U.S.
 Government
 Investigation

 Loss                        -                    -                    -
Other Items                 (86)                 (304)                 (153)
                            ---
    Total
     Operating
     Income
     (Expense)             $130                  $(50)                 $239

                                   Three Months Ended
                        3/31/2014          12/31/2013           9/30/2013
Product

 Service Line
 Revenues:
Formation
 Evaluation
 and Well
 Construction
 (a)                      2,164                2,307                  2,330
Completion
 and
 Production

 (b)                      1,432                 1,431                 1,490
                          -----
    Total Product
     Service Line
     Revenues            $3,596                $3,738                $3,820

                                   Three Months Ended
                        3/31/2014          12/31/2013           9/30/2013

Depreciation
 and
 Amortization:
North America              $107                  $106                  $108
Middle East/
 North

 Africa/Asia                102                   104                   101
Europe/SSA/
 Russia                      72                    78                    69
Latin America                64                    69                    71
Research and
 Development
 and
 Corporate                    6                     6                     3
                            ---
    Total
     Depreciation
     and
     Amortization          $351                  $363                  $352










                               Three Months Ended
                          6/30/2013             3/31/2013
Net Revenues:

North America            $1,529                $1,692
Middle East/
 North

 Africa/Asia                919                   785
Europe/SSA/
 Russia                     681                   633
Latin America               739                   727
    Total Net
     Revenues            $3,868                $3,837
                         ======                ======

                         Three Months Ended
                        6/30/2013           3/31/2013

Operating
 Income
 (Expense):
North America              $167                  $224
Middle East/
 North

 Africa/Asia                 66                    45
Europe/SSA/
 Russia                      83                    65
Latin America                90                    98
Research and
 Development                (71)                  (67)
Corporate
 Expenses                   (49)                  (48)
Restructuring

 Charges                     -                    -
U.S.
 Government
 Investigation

 Loss                      (153)                   -
Other Items                 (78)                  (38)
    Total
     Operating
     Income
     (Expense)              $55                  $279

                             Three Months Ended
                        6/30/2013           3/31/2013

Product
 Service Line
 Revenues:
Formation
 Evaluation
 and Well
 Construction
 (a)                      2,361                 2,273
Completion
 and
 Production
 (b)                      1,507                 1,564

    Total Product
     Service Line
     Revenues            $3,868                $3,837

                              Three Months Ended
                        6/30/2013           3/31/2013

Depreciation
 and
 Amortization:
North America              $102                  $108
Middle East/
 North

 Africa/Asia                 98                    93
Europe/SSA/
 Russia                      68                    71
Latin America                68                    68
Research and
 Development

 and
 Corporate                    5                     6

    Total
     Depreciation
     and
     Amortization          $341                  $346



(a)            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.
(b)            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
                                            3/31/2014              12/31/2013
                                            ---------              ----------
Operating Income:
  GAAP Operating Income                  $130                  $(50)
    Restructuring, Exited
     Businesses and Severance
     Cost (a)                              84                    30
    Legacy Contracts (b)                   46                   168
    Accounts Receivable
     Reserves and Write-offs                -                    98
    Tax Remediation and
     Restatement Expenses                   5                     2
    Investigation Related
     Expenses                               -                     5
    Professional Fees and
     Other (c)                             21                     1
                                          ---                   ---
        Total Non-GAAP
         Adjustments                      156                   304
                                          ---                   ---
  Non-GAAP Operating Income              $286                  $254
                                         ====                  ====

Income (Loss) Before
 Income Taxes:
  GAAP Income (Loss) Before
   Income Taxes                           $(5)                $(194)
    Operating Income
     Adjustments                          156                   304
    Devaluation of Venezuelan
     Bolivar                                -                     -
  Non-GAAP Income Before
   Income Taxes                          $151                  $110
                                         ====                  ====


Provision for Income
 Taxes:
  GAAP Provision for Income

   Taxes                                 $(27)                 $(70)
  Tax Effect on Non-GAAP
   Adjustments                            (16)                   20
  Non-GAAP Provision for
   Income Taxes                          $(43)                 $(50)
                                         ====                  ====

Net Income (Loss)

 Attributable to
 Weatherford:
  GAAP Net Income (Loss)                 $(41)                $(271)

    Restructuring, Exited
     Businesses and Severance
     Cost                                  71                    25
    Legacy Contracts                       47                   171
    Devaluation of Venezuelan
     Bolivar                                -                    33
    Accounts Receivable
     Reserves and Write-offs                -                    96
    Tax Remediation and
     Restatement Expenses                   4                    (2)
    Investigation Related
     Expenses                               -                     2
    Professional Fees and
     Other (c)                             18                    (1)
    Total Charges, net of tax             140                   324
                                                                ---
  Non-GAAP Net Income                     $99                   $53
                                          ===                   ===

Diluted Earnings Per Share
 Attributable to
 Weatherford:
  GAAP Diluted Earnings
   (Loss) per Share                    $(0.05)               $(0.35)
    Total Charges, net of tax            0.18                  0.42
  Non-GAAP Diluted Earnings
   per Share                            $0.13                 $0.07
                                        =====                 =====


GAAP Effective Tax Rate

 (d)                                    (540)%                 (36)%
Non-GAAP Effective Tax

 Rate (e)                                  28%                   45%








                                     Three Months Ended
                                           3/31/2013
                                           ---------
Operating Income:
  GAAP Operating Income                       $279
    Restructuring, Exited
     Businesses and Severance
     Cost (a)                                    8
    Legacy Contracts (b)                         3
    Accounts Receivable
     Reserves and Write-offs                     -
    Tax Remediation and
     Restatement Expenses                       21
    Investigation Related
     Expenses                                    5
    Professional Fees and
     Other (c)                                   1
                                               ---
        Total Non-GAAP
         Adjustments                            38
                                               ---
  Non-GAAP Operating Income                   $317
                                              ====

Income (Loss) Before
 Income Taxes:
  GAAP Income (Loss) Before
   Income Taxes                                $35
    Operating Income
     Adjustments                                38
    Devaluation of Venezuelan
     Bolivar                                   100
  Non-GAAP Income Before
   Income Taxes                               $173
                                              ====

Provision for Income
 Taxes:
  GAAP Provision for Income
   Taxes                                       $(5)
  Tax Effect on Non-GAAP
   Adjustments                                 (43)
  Non-GAAP Provision for
   Income Taxes                               $(48)
                                              ====

Net Income (Loss)

 Attributable to
 Weatherford:
  GAAP Net Income (Loss)                       $22

    Restructuring, Exited
     Businesses and Severance
     Cost                                        6
    Legacy Contracts                             8
    Devaluation of Venezuelan
     Bolivar                                    61
    Accounts Receivable
     Reserves and Write-offs                     -
    Tax Remediation and
     Restatement Expenses                       18
    Investigation Related
     Expenses                                    3
    Professional Fees and
     Other (c)                                  (1)
    Total Charges, net of tax                   95
                                               ---
  Non-GAAP Net Income                         $117
                                              ====

Diluted Earnings Per Share
 Attributable to
 Weatherford:

  GAAP Diluted Earnings

   (Loss) per Share                          $0.03
    Total Charges, net of tax                 0.12
  Non-GAAP Diluted Earnings
   per Share                                 $0.15
                                             =====

GAAP Effective Tax Rate
 (d)                                            14%
Non-GAAP Effective Tax
 Rate (e)                                       28%




(a) Restructuring, Exited Businesses and Severance Cost includes $70
million in severance and exit costs associated with our 2014
workforce and cost reduction initiatives, as well as $14 million in
operating losses related to businesses exited in the three months
ended March 31, 2014. These results are presented in comparison to
the severance amounts recognized in the prior periods.
(b) The revenues associated with the legacy lump sum contracts in
Iraq were $95 million, $52 million and $166 million for the three
months ended 3/31/2014, 12/31/2013 and 3/31/2013, respectively.
(c) Professional Fees and Other, during the three months ended March
31, 2014, includes the cost of our divestiture program, the
restatement related litigation, and the cost incurred to date in
association with our planned redomiciliation.
(d) GAAP Effective Tax Rate is GAAP provision for income taxes
divided by GAAP income before income taxes.
(e) Non-GAAP 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)


                        3/31/2014          12/31/2013           9/30/2013
                       ---------          ----------           ---------
Assets:
Cash and Cash
 Equivalents                 $367              $435              $316
Accounts
 Receivable, Net            3,723             3,594             4,004
Inventories, Net            3,403             3,371             3,580
Property, Plant and
 Equipment, Net             8,213             8,368             8,397
Goodwill and
 Intangibles, Net           4,241             4,335             4,421
Equity Investments            297               296               686

Liabilities:
Accounts Payable            2,012             2,091             2,117
Short-term

 Borrowings and
 Current Portion of
 Long-term Debt             2,293             1,666             2,230
Long-term Debt              7,039             7,061             7,065









                          6/30/2013           3/31/2013
                        ---------           ---------
Assets:
Cash and Cash
 Equivalents                 $295              $286
Accounts
 Receivable, Net            3,837             3,850
Inventories, Net            3,637             3,744
Property, Plant and
 Equipment, Net             8,333             8,299
Goodwill and
 Intangibles, Net           4,402             4,485
Equity Investments            671               660

Liabilities:
Accounts Payable            2,144             2,191
Short-term

 Borrowings and
 Current Portion of
 Long-term Debt             2,148             1,896
Long-term Debt              7,087             7,032












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

Change in Net Debt for the
 Three Months Ended
 3/31/2014:
  Net Debt at 12/31/2013                                        $(8,292)
    Operating   
    Income                                                           130
    Depreciation and Amortization                                    351
    Capital Expenditures                                            (286)
    Increase in Working Capital                                     (284)
    Income Taxes Paid                                               (103)
    Interest Paid                                                   (179)
    FCPA /Sanctioned Country
     Matters  
    Payment                                                         (253)
    Acquisitions and
     Divestitures of Assets and Businesses, Net                        12
    Net Change in Billing in
     Excess/Costs in Excess                                           (66)
    Other                                                               5
  Net Debt at 3/31/2014                                           
                                                                  $(8,965)

                                                                   =======



  Components of Net Debt            3/31/2014     12/31/2013  3/31/2013
                                    ---------    ----------  ---------
    Cash                               $367          $435         $286
    Short-term Borrowings and
     Current Portion of Long-
     term Debt                       (2,293)        (1,666)      (1,896)
    Long-term Debt                   (7,039)       (7,061)      (7,032)
                                     ------         ------      ------
    Net Debt                        $(8,965)      $(8,292)     $(8,642)
                                    =======       =======      =======




"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
                              3/31/2014     12/31/2013        3/31/2013
                              ---------    ----------        ---------
Net Cash Used in
 Operating Activities                $(406)        $662           $(11)

Less: Capital
 Expenditures for
 Property, Plant and
 equipment                            (286)        (364)          (400)

Free Cash Flow                       $(692)        $298          $(411)
                                     =====         ====          =====


 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.














Further inquiry note:
Contacts:       Krishna Shivram                        +1.713.836.4610
                Executive Vice President and
                Chief Financial Officer

                Karen David-Green                      +1.713.836.7430
                Vice President -Investor
                Relations

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
 



Weitere Meldungen: Weatherford International Ltd.

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