What changed in this filing

/stocks — the workspaceLOADING

Item 8. Financial Statements and Supplementary Data

2026-02-04 compared with 2025-02-06 · 195 added, 147 removed, 874 unchanged (28% of the section changed)

2 unchanged sentences

Reports of Independent Registered Public Accounting Firm ( KPMG LLP , Houston, TX Firm ID 185 )

Consolidated Statements of Operations for the years ended December 31, 202 4 , 202 3 a nd 2 022

Consolidated Statements of Operations for the years ended December 31, 202 5 , 202 4 and 20 23

Consolidated Statements of Comprehensive Income for the years ended December 31, 202 5 , 202 4 and 20 23

82 unchanged sentences

Selling, General and Administrative 664 791 804

Other Charges

Gain on Sale of Business ( 70 ) — ( 2 )

Restructuring Charges

Other Charges (Credits), Net

Total Costs and Expenses 4,162 4,575 4,315

3 unchanged sentences

( 91 ) ( 102 ) ( 123 )

Loss on Extinguishment of Debt and Bond Redemption Premium

( 39 ) ( 9 ) ( 5 )

Loss on Blue Chip Swap Securities ( 2 ) ( 10 ) ( 57 )

22 unchanged sentences

Comprehensive Income 620 428 443

Net Income Attributable to Noncontrolling Interests 44 32 25

Comprehensive Income Attributable to Noncontrolling Interests 26 44 32

Comprehensive Income Attributable to Weatherford $ 594 $ 384 $ 411

34 unchanged sentences

Retained Deficit ( 1,129 ) ( 1,486 )

Accumulated Other Comprehensive Loss ( 150 ) ( 28 )

Accumulated Other Comprehensive Income (Loss) 13 ( 150 )

Shareholders’ Equity

4 unchanged sentences

Weatherford International plc – 2025 Form 10-K | 48

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

4 unchanged sentences

Comprehensive

Income (Loss)

Non-controlling Interests Total Shareholders’ Equity

4 unchanged sentences

1.5 — ( 22 ) — — — ( 22 )

Other Comprehensive Income — — — — 13 — 13

Other Comprehensive Loss — — — — ( 6 ) — ( 6 )

Distributions to Noncontrolling Interests

5 unchanged sentences

Equity Awards, Granted and Vested, Net of Shares Withheld for Taxes 0.2 — 36 — — — 36

1.5 — ( 22 ) — — — ( 22 )

Equity Issued for Acquisitions 0.9 — 79 — — — 79

Other Comprehensive Loss — — — — ( 122 ) — ( 122 )

Distributions to Noncontrolling Interests

Share Repurchases (1)

( 1.1 ) — ( 100 ) — — — ( 100 )

Dividends Declared ($ 0.50 per share) (2)

— — — ( 38 ) — — ( 38 )

Distributions to Noncontrolling Interests — — — — — ( 39 ) ( 39 )

Other — — — — — ( 5 ) ( 5 )

4 unchanged sentences

1.3 — ( 4 ) — — — ( 4 )

Equity Issued for Acquisitions

0.9 — 79 — — — 79

Other Comprehensive Loss — — — — ( 122 ) — ( 122 )

Other Comprehensive Income — — — — 163 — 163

Share Repurchases (1)

11 unchanged sentences

Weatherford International plc – 2025 Form 10-K | 49

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES

9 unchanged sentences

Gain on Disposition of Assets ( 9 ) ( 35 ) ( 9 )

Gain on Sale of Business ( 70 ) — ( 2 )

Deferred Income Tax Provision (Benefit) ( 14 ) 8 ( 86 )

5 unchanged sentences

Accrued Salaries and Benefits

( 24 ) ( 74 ) 20

Other Changes, Net

3 unchanged sentences

Proceeds from Disposition of Assets 16 31 28

Proceeds from Sale of Business

Purchases of Blue Chip Swap Securities ( 117 ) ( 50 ) ( 110 )

2 unchanged sentences

— ( 51 ) ( 4 )

Proceeds from Sale of Investments

Other Investing Activities ( 30 ) ( 5 ) ( 47 )

1 unchanged sentence

Cash Flows From Financing Activities:

Borrowings of Long-term Debt $ 1,200 $ — $ —

Debt Issuance Costs

Repayments of Long-term Debt ( 1,388 ) ( 287 ) ( 386 )

5 unchanged sentences

Dividends Paid

( 72 ) ( 36 ) —

Other Financing Activities ( 45 ) ( 19 ) ( 20 )

1 unchanged sentence

Effect of Exchange Rate Changes on Cash and Cash Equivalents 10 ( 76 ) ( 78 )

Net Decrease in Cash, Cash Equivalents and Restricted Cash ( 88 ) ( 49 ) ( 1 )

Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 67 ( 88 ) ( 49 )

Cash, Cash Equivalents and Restricted Cash at Beginning of Period 975 1,063 1,112

42 unchanged sentences

The balances due are not in dispute, however additional or continued delays in customer payments in the future could differ from historical practice and management’s current expectations, and delays or failures to pay or defaults, if any, could negatively impact future results of the Company.

During the twelve months ended December 31, 2024, we paid an immaterial amount of fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico.

Pursuant to such arrangements, we received $ 484 million during the twelve months ended December 31, 2024.

During the twelve months ended December 31, 2025 and December 31, 2024 we paid an immaterial amount of fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico.

Pursuant to such arrangements, we received $ 93 million during the twelve months ended December 31, 2025 and $ 484 million during the twelve months ended December 31, 2024.

As of December 31, 2025 and December 31, 2024, the U.S.

accounted for less than 10 % and 11 % of our total net accounts receivables, respectively.

accounted for 11 % and less than 10 % of our total net accounts receivables, respectively.

No other country or individual customer accounted for more than 10% of our total net outstanding accounts receivables.

We state our inventories at the lower of cost or net realizable value using either the first-in, first-out (“FIFO”) or average cost method.

Cost represents third-party invoice or production cost.

Production cost includes material, labor and manufacturing overhead.

Cost represents third-party invoice or production cost, which include materials, labor and applicable overhead.

To maintain a carrying value that is the lower of cost or net realizable value, we regularly review inventory quantities on hand and compare to estimates of future product demand, market conditions, our production requirements, and technological developments.

We maintain reserves for excess, slow moving and obsolete inventory and we may periodically recognize additional charges for inventory in which we determine there is no forecasted demand.

We maintain reserves for excess, slow moving and obsolete inventory and we may record additional charges when items are determined to have no forecasted demand.

Property, Plant and Equipment (“PP&E”)

32 unchanged sentences

Derivative Financial Instruments

We primarily enter into foreign currency forward contracts to mitigate the volatility of foreign exchange related gains and losses on the income statement and the risk of future cash flows denominated in a foreign currency.

We primarily enter into foreign currency forward contracts to mitigate the volatility of foreign exchange related gains and losses on the income statement and the risk of volatility in future cash flows denominated in a foreign currency.

The amounts will fluctuate, depending on exchange rate volatility, the volume of our foreign currency transactions, and our decisions to hedge.

During 2024 and 2023 we entered into CDSs.

During 2024 and 2023 we entered into credit default swaps (“CDSs”).

The notional amounts of our foreign currency forward contracts and the CDSs do not generally represent cash amounts exchanged by the parties and are calculated based on the terms of the derivative instrument.

4 unchanged sentences

See “Note 10 – Fair Value of Financial Instruments, Assets and Other Assets” for additional information.

Weatherford International plc – 2025 Form 10-K | 53

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Foreign Currency

1 unchanged sentence

dollar are translated using average exchange rates during the period.

Assets and liabilities translated using the exchange rates in effect at the balance sheet dates are included in “Accumulated Other Comprehensive Loss” on the accompanying Consolidated Statements of Shareholders' Equity.

Weatherford International plc – 2024 Form 10-K | 55

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Assets and liabilities are translated using the exchange rates in effect at the balance sheet date, and the resulting translation adjustments are included in “Accumulated Other Comprehensive Income (Loss)” on the accompanying Consolidated Statements of Shareholders' Equity.

For our subsidiaries with a functional currency that differs from the currency of their balances and transactions, inventories, PP&E and other non-monetary assets and liabilities, together with their related elements of expense or income, are remeasured into the functional currency using historical exchange rates.

All monetary assets and liabilities are remeasured into the functional currency at current exchange rates.

Remeasurement gains and losses are recognized during the period incurred and recognized in “Other Expense, Net” on the accompanying Consolidated Statements of Operations.

The resulting gains and losses are recognized during the period incurred and recognized in “Other Expense, Net” on the accompanying Consolidated Statements of Operations.

Share-Based Compensation

We account for share-based payment awards by recognizing the grant date fair value as an expense, net of forfeitures, over the service period, which is usually the vesting period.

The fair value and associated expense is adjusted when the published price of our stock changes for share-based awards we intend to settle in cash.

We account for share-based payment awards by recognizing the grant date fair value as an expense, over the service period, which is usually the vesting period, and account for forfeitures as they occur.

The fair value and associated expense is updated at each reporting date for share-based awards we intend to settle in cash and for awards where performance targets are established or modified during the performance period.

We record share-based compensation in “Selling, General and Administrative” on the accompanying Consolidated Statements of Operations.

5 unchanged sentences

Disputes, Litigation and Contingencies

We accrue an estimate of costs to resolve certain disputes, legal matters and contingencies when a loss on these matters is deemed probable and reasonably estimable.

We accrue an estimate of losses to resolve certain disputes, legal matters and contingencies when a loss on these matters is deemed probable and reasonably estimable.

For matters not deemed probable or not reasonably estimable, we have not accrued any amounts.

Our contingent loss estimates are based upon an analysis of potential results, assuming a combination of possible litigation and settlement strategies.

Our contingent loss estimates are based upon an analysis of potential outcomes, assuming a combination of possible litigation and settlement strategies.

The accuracy of these estimates is impacted by the complexity of the associated issues.

31 unchanged sentences

Accounting Standards Newly Adopted

The Company has adopted ASU 2023-07, Segment Reporting (Topic 280)-Improvements to Reportable Segment Disclosures as issued by the Financial Accounting Standards Board (“FASB”) in November 2023, which is an update that improves reportable segment disclosure requirements.

Other than providing additional disclosures related to our segments, the adoption did not materially impact our financial statements.

See “Note 2 – Segment Information” in our Notes to Consolidated Financial Statements.

The Company has adopted ASU 2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures as issued by the Financial Accounting Standards Board (“FASB”) in December 2023, which is an update that improves income tax disclosure requirements.

Other than providing additional disclosures related to our income taxes, the adoption, which was done on a prospective basis, did not materially impact our financial statements.

See “Note 17 – Income Taxes” in our Notes to Consolidated Financial Statements.

Accounting Standards Issued Not Yet Adopted

7 unchanged sentences

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures , an update that improves income tax disclosure requirements.

Under ASU 2023-09, issuers must annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold.

The amendments are effective for fiscal years beginning after December 15, 2024 and should be applied prospectively.

We expect to adopt ASU 2023-09 in our 2025 Form 10-K.

The adoption of ASU 2023-09 will require us to provide additional disclosures related to our income taxes, but otherwise will not materially impact our financial statements.

Evaluations of all other new accounting pronouncements that have been issued, but not yet effective are on-going, and at this time are not expected to have a material impact on our Consolidated Financial Statements.

Weatherford International plc – 2024 Form 10-K | 58

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

2 – Segment Information

19 unchanged sentences

All other and corporate do not individually meet the criteria for segment reporting.

Weatherford International plc – 2025 Form 10-K | 56

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31, 2025

12 unchanged sentences

Share-based Compensation (c)

Other Charges

Gain on Sale of Business

Restructuring Charges

Other Charges, Net

Operating Income $ 756

2 unchanged sentences

Weatherford International plc – 2024 Form 10-K | 59

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31, 2024

12 unchanged sentences

Share-based Compensation (c)

Other Charges

Restructuring Charges

Other Charges, Net

Operating Income $ 938

2 unchanged sentences

Weatherford International plc – 2025 Form 10-K | 57

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31, 2023

12 unchanged sentences

Share-based Compensation (c)

Other Charges

Gain on Sale of Business

Restructuring Charges

Other Credits, Net

Operating Income $ 820

2 unchanged sentences

Weatherford International plc – 2024 Form 10-K | 60

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31,

8 unchanged sentences

Total Capital Expenditures $ 226 $ 299 $ 209

Weatherford International plc – 2025 Form 10-K | 58

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

(Dollars in millions) 2025

17 unchanged sentences

(b) Corporate assets not allocated by geography are excluded from this total.

Weatherford International plc – 2024 Form 10-K | 61

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Sale of Business

In April 2025, we completed the sale of our pressure pumping business in Argentina for proceeds totaling $ 104 million consisting of $ 7 million of proceeds received in the fourth quarter of 2024 and $ 97 million of proceeds received in the second quarter of 2025.

We recognized a gain of $ 70 million as a result of this transaction during the three months ended June 30, 2025.

Disaggregated Revenue

2 unchanged sentences

Equipment rental revenue were $ 115 million, $ 151 million and $ 142 million in 2025, 2024 and 2023, respectively.

During 2024 and 2023, Mexico accounted for 12 % and 13 % of total revenue, respectively, driven by our largest customer, which accounted for 10 % of our total revenue in each year, respectively.

During 2025, 2024 and 2023, the U.S.

accounted for 15 %, 15 % and 16 % of total revenue, respectively.

During 2024, the Kingdom of Saudi Arabia accounted for 10 % of total revenue.

During 2025 and 2024, the Kingdom of Saudi Arabia accounted for 10 % of total revenue in each period.

In addition, during 2024 and 2023, Mexico accounted for 12 % and 13 % of total revenue, respectively, driven by our largest customer which accounted for 10% of our total revenue in each year, respectively.

No other country or individual customer accounted for more than 10% of our total revenue in 2025, 2024 and 2023.

We had no revenue in our country of domicile (Ireland) in 2025, 2024 and 2023.

Weatherford International plc – 2025 Form 10-K | 59

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31,

27 unchanged sentences

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

4 – Restructuring Charges

During 2025, 2024 and 2023, “Restructuring Charges” on the accompanying Consolidated Statements of Operations were primarily related to optimization and efficiency initiatives throughout the organization.

Restructuring liabilities were $ 22 million and $ 35 million as of December 31, 2025 and 2024, respectively, of which $ 19 million and $ 31 million were recorded in “Other Current Liabilities” and $ 3 million and $ 4 million in “Other Non-current Liabilities” as of December 31, 2025 and 2024, respectively, on the accompanying Consolidated Balance Sheets.

The change in liabilities include restructuring charges, primarily offset by cash payments.

The following table presents restructuring charges by type and by segment (and all other) for the following periods:

Year Ended December 31,

(Dollars in millions) 2025 2024 2023

Severance Charges $ 41 $ 35 $ 9

Facility Exit and Other Charges

Total Restructuring Charges $ 58 $ 42 $ 16

Year Ended December 31,

(Dollars in millions) 2025 2024 2023

DRE $ 13 $ 10 $ 3

Corporate and Other

Total Restructuring Charges $ 58 $ 42 $ 16

Weatherford International plc – 2025 Form 10-K | 61

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

5 – Inventories, Net

33 unchanged sentences

Amortization expense was $ 59 million, $ 158 million and $ 156 million in 2025, 2024, and 2023, respectively.

The decrease in amortization expense for 2025 was primarily due to full amortization of certain intangible assets as of December 31, 2024.

Based on the carrying value of intangible assets at December 31, 2025, amortization expense for the subsequent five years is estimated as follows (dollars in millions):

42 unchanged sentences

(Dollars in millions) 2025

Current portion of 6.5 % Senior Secured Notes due 2028 “2028 Senior Secured Notes”

Finance Lease Current Portion $ 30 $ 17

1 unchanged sentence

6.75 % Senior Notes due 2033 “2033 Senior Notes”

$ 1,586 $ 1,587

6.5 % Senior Secured Notes due 2028 “2028 Senior Secured Notes”

8.625 % Senior Notes due 2030 “2030 Senior Notes”

Finance Lease Long-term Portion 40 31

Long-term Debt $ 1,455 $ 1,617

Our Exit Notes and 2028 Senior Secured Notes were issued by Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”), and guaranteed by the Company and Weatherford International, LLC, a Delaware limited liability company (“Weatherford Delaware”) and other subsidiary guarantors party thereto.

The 2028 Senior Secured Notes and the related guarantees were secured by substantially all of the assets and properties of the Company and the other guarantors (on an effectively first-priority basis with respect to the priority collateral for the 2028 Senior Secured Notes, and on an effectively second-priority basis with respect to the priority collateral for the senior secured letter of credit agreement (now the “Credit Agreement”), in each case, subject to permitted liens).

Our 2030 Senior Notes were originally issued by Weatherford Bermuda and guaranteed by the Company and Weatherford Delaware and other subsidiary guarantors party thereto.

On December 1, 2022, the indenture related to our 2030 Senior Notes was amended and supplemented to add Weatherford Delaware as co-issuer and co-obligor, and concurrently releases the guarantee of Weatherford Delaware.

On December 13, 2019, we issued unsecured 11.00 % Exit Notes due in 2024 for an aggregate principal amount of $ 2.1 billion.

Interest accrued at the rate of 11.00 % per annum and was payable semiannually on June 1 and December 1.

Proceeds from the issuance were reduced by debt issuance costs.

In 2023, we fully redeemed the remaining $ 125 million principal amount.

2028 Senior Secured Notes

6 unchanged sentences

Interest accrues at the rate of 8.625 % per annum and is payable semiannually on June 1 and December 1 of each year, and commenced June 1, 2022.

On December 1, 2022, we modified our 2030 Senior Notes, as described earlier.

In the fourth quarter of 2024 we repurchased $ 4 million in principal of our 2030 Senior Notes.

At December 31, 2024 and December 31, 2023, the carrying value represents the remaining unpaid principal of $ 1.6 billion at each date, offset by unamortized deferred issuance cost of $ 11 million and $ 13 million, respectively.

Our 2030 Senior Notes were issued by Weatherford International Ltd., a Bermuda exempted company (“Weatherford Bermuda”) and guaranteed by the Company and Weatherford International, LLC, a Delaware limited liability company (“Weatherford Delaware”) and other subsidiary guarantors party thereto.

In 2025, we repurchased approximately $ 61 million of principal of our 2030 Senior Notes and acquired an additional $ 1.3 billion of principal through a tender offer and redemption.

In connection with the tender offer and redemption, we also paid $ 41 million of accrued interest and a $ 30 million redemption premium.

We recognized a non-cash loss on extinguishment of debt of $ 8 million, primarily related to the write-off of unamortized debt issuance costs.

The tender offer and redemption used net proceeds from the issuance of $ 1.2 billion of 2033 Senior Notes (defined below) and cash on hand.

In 2024, we repurchased $4 million in principal of our 2030 Senior Notes.

At December 31, 2025 and December 31, 2024, the carrying value represents the remaining unpaid principal of $ 236 million and $ 1.6 billion, respectively, offset by unamortized deferred issuance cost of $ 2 million and $ 11 million, respectively.

2033 Senior Notes

On October 6, 2025, we issued 6.75 % Senior Note in aggregate principal amount of $ 1.2 billion maturing October 15, 2033 (the “2033 Senior Notes’).

Interest accrues at the rate of 6.75 % per annum and is payable semiannually on April 15th and October 15th of each year commencing April 15, 2026.

Our 2033 Senior Notes were issued by Weatherford Bermuda and guaranteed by the Company and Weatherford Delaware and other subsidiary guarantors party thereto.

On October 24, 2025, the indenture related to our 2033 Senior Notes was amended and supplemented to add Weatherford Delaware as co-issuer and co-obligor, and concurrently released the guarantee of Weatherford Delaware.

At December 31, 2025, the carrying value represents the remaining unpaid principal of $ 1.2 billion, offset by unamortized deferred issuance cost of $ 19 million.

Weatherford International plc – 2025 Form 10-K | 66

4 unchanged sentences

The Credit Agreement is guaranteed by the Company and certain of our subsidiaries and secured by substantially all of the personal property of the Company and those subsidiaries.

At December 31, 2024, the Credit Agreement allowed for a total commitment amount of $ 720 million, maturing on October 24, 2028.

At December 31, 2025, the Credit Agreement allowed for a total commitment amount of $ 1 billion, maturing on the earlier of (a) September 18, 2030 and (b) to the extent that more than $ 200 million of 2030 Senior Notes or Permitted Refinancing Indebtedness in respect thereof is outstanding on such date, the date that is 91 days prior to the stated maturity date of the Senior Notes or any Permitted Refinancing Indebtedness in respect thereof.

Financial covenants in the Credit Agreement include a $ 250 million minimum liquidity covenant (which may increase up to $ 400 million dependent on the nature of transactions we may decide to enter into), a minimum interest coverage ratio of 2.50 to 1.00, a maximum total net leverage ratio of 3.50 to 1.00, and a maximum secured net leverage ratio of 1.50 to 1.00.

On April 22, 2024, additional lenders joined the Credit Agreement, providing an increase in total commitments from $ 550 million to $ 680 million (performance letters of credit increased from $ 250 million to $ 309 million and borrowings or additional performance or financial letters of credit increased from $ 300 million to $ 371 million).

On June 6, 2024, an additional lender joined the Credit Agreement, providing an increase in total commitments from $ 680 million to $ 720 million (performance letters of credit increased to $ 327 million and revolving loan borrowings or additional performance or financial letters of credit increased to $ 393 million).

In addition, we amended the Credit Agreement to allow for future increases in total commitments of up to $ 1 billion.

As of December 31, 2024, we had zero borrowings outstanding under the Credit Agreement, and $ 382 million of letters of credit outstanding, consisting of the $ 291 million ($ 279 million for performance letters of credit and $ 12 million for financial letters of credit) under the Credit Agreement and another $ 91 million under various uncommitted bi-lateral facilities (of which there was $ 49 million in cash collateral held and recorded in “Restricted Cash” on the Consolidated Balance Sheets).

As of December 31, 2023, we had zero borrowings outstanding under the Credit Agreement, and $ 376 million of letters of credit outstanding, consisting of the $ 270 million ($ 218 million for performance letters of credit and $ 52 million for financial letters of credit) under the Credit Agreement and another $ 106 million under various uncommitted bi-lateral facilities (of which there was $ 101 million in cash collateral held and recorded in “Restricted Cash” on the Consolidated Balance Sheets).

On September 18, 2025, we amended the Credit Agreement to (i) allow for an increase in total commitment amount from $ 720 million to $ 1 billion comprised of $ 600 million to be used either for revolving loans or financial letters of credit and $ 400 million to be used for performance letters of credit, (ii) extend the maturity date to the earlier of September 18, 2030 or January 29, 2030 if more than $ 200 million of 2030 Senior Notes or Permitted Refinancing Indebtedness are outstanding on that date and (iii) include an accordion feature that will allow for further increases of commitments up to $ 1.15 billion.

As of December 31, 2025, under the Credit Agreement we had zero borrowings, $ 7 million in financial letters of credit and $ 245 million in performance letters of credit outstanding.

Additionally as of December 31, 2025, we had $ 207 million letters of credit under various uncommitted bi-lateral facilities ($ 47 million of which was cash collateral held and recorded in “Restricted Cash” on the Consolidated Balance Sheets).

As of December 31, 2024, under the Credit Agreement we had zero borrowings, $ 12 million in financial letters of credit and $ 279 million in performance letters of credit outstanding.

Additionally as of December 31, 2024, we had $ 91 million of letters of credit under various uncommitted bi-lateral facilities ($ 49 million of which was cash collateral held and recorded in “Restricted Cash” on the Consolidated Balance Sheets).

Covenants for the Senior Notes and Credit Agreement

The indentures governing the 2030 Senior Notes contain covenants that limit, among other things, our ability and the ability of certain of our subsidiaries, to:

The Credit Agreement and indentures governing the 2030 Senior Notes and 2033 Senior Notes contain covenants that limit, among other things, our ability and the ability of certain of our subsidiaries, to:

incur, assume or guarantee additional indebtedness;

22 unchanged sentences

Classification of a financial asset or liability within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.

The fair values of our foreign currency forward contracts (see “Note 10 – Derivative Financial Instruments”), warrants (before their expiration, see “Note 15 – Income per Share”), and plan assets of defined benefit pension plans (see “Note 11 – Employee Benefit Plans”) are all Level 2 valuations and the fair value of the credit default swap is a Level 3 valuation (see “Note 10 – Derivative Financial Instruments”).

The fair values of our foreign currency forward contracts (see “Note 11 – Derivative Financial Instruments”), warrants (before their expiration in 2023, see “Note 16 – Income per Share”), and plan assets of defined benefit pension plans (see “Note 12 – Employee Benefit Plans”) are all Level 2 valuations and the fair value of the credit default swap is a Level 3 valuation (see “Note 11 – Derivative Financial Instruments”).

Our other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, short-term borrowings and long-term debt.

6 unchanged sentences

(Dollars in millions) Carrying Value Fair Value Carrying Value Fair Value

6.5 % Senior Secured Notes due 2028

8.625 % Senior Notes due 2030

234 242 1,586 1,650

6.75% Senior Notes due 2033

1,181 1,226 — —

Long-Term Debt (excluding Finance Leases) $ 1,415 $ 1,468 $ 1,586 $ 1,650

Weatherford International plc – 2024 Form 10-K | 69

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

11 – Derivative Financial Instruments

5 unchanged sentences

Credit Default Swap

During the fourth quarter of 2024, we entered into a credit default swap (“CDS”) with a third-party financial institution terminating in September of 2026 related to a secured loan between that third-party financial institution and our largest customer in Mexico.

During the fourth quarter of 2024, we entered into a CDS with a third-party financial institution terminating in September of 2026 related to a secured loan between that third-party financial institution and our largest customer in Mexico.

The secured loan was utilized by this customer to pay certain of our outstanding receivables and accordingly, in the fourth quarter of 2024, we received $ 25 million.

The fair value of the derivative was not material as of December 31, 2024.

The fair value of the derivative was not material as of December 31, 2025 and December 31, 2024.

Under the CDS terms, within five business days upon notification of default, we could be required to pay the then outstanding notional balance net of recoveries.

As of December 31, 2024 we had a notional balance of $ 25 million outstanding under the CDS.

Management expects the total notional balance under the CDS to decrease to $ 14 million and nil by December 31, 2025 and December 31, 2026.

A CDS was entered into during the fourth quarter of 2023 with the same parties for similar reasons as in the fourth quarter of 2024, and accordingly, in the fourth quarter of 2023 and January of 2024, we received $ 140 million and $ 142 million, respectively.

As of December 31, 2023, we had a notional balance of $ 130 million outstanding under the CDS, which increased to $ 260 million in January of 2024, following the receipt of the $ 142 million payment.

As of December 31, 2025, we had a notional balance of $ 14 million outstanding under the CDS and as of December 31, 2024 we had a notional balance of $ 25 million outstanding.

Management expects the total notional balance under the CDS to be nil by December 31, 2026.

A CDS was entered into during the fourth quarter of 2023 with the same parties for similar reasons as in the fourth quarter of 2024, and accordingly, in the first quarter of 2024, we received $ 142 million.

The agreement was terminated in the third quarter of 2024, extinguishing the remaining notional balance.

4 unchanged sentences

Contribution expenses related to these plans totaled $ 20 million, $ 20 million and $ 18 million for the years ended December 31, 2025, 2024 and 2023, respectively.

We have defined benefit pension and other post-retirement benefit plans covering certain U.S.

We have defined benefit pension and other post-retirement benefit plans covering certain current and former U.S.

and international employees.

Plan benefits are generally based on factors such as age, compensation levels and years of service.

Net periodic benefit cost related to these plans totaled $ 3 million, $ 3 million, and $ 4 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Net periodic benefit cost related to these plans totaled less than $1 million, $ 3 million, and $ 3 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The projected benefit obligations on a consolidated basis were $ 128 million and $ 126 million as of December 31, 2025 and December 31, 2024, respectively.

The fair values of plan assets on a consolidated basis were $ 107 million and $ 100 million as of December 31, 2025 and December 31, 2024, respectively.

The decrease in both the projected benefit obligation and the plans assets year over year is due primarily to benefit obligations paid from plan assets, deferral of actuarial losses to accumulated other comprehensive income, as well as the strengthening of the U.S.

Dollar for our non-U.S.

plans, As of December 31, 2024, the net underfunded obligation consisted of $ 17 million of funded obligations recorded to “Other Non-current Assets” and $ 43 million of underfunded obligations substantially all recorded to “Other Non-current Liabilities” on our Consolidated Balance Sheets.

The increase in both the projected benefit obligation and the plan assets year over year is due primarily to the weakening of the U.S.

Dollar, partially offset by the settlement and payment of benefit obligations and annual interest and return activity.

As of December 31, 2025, the net underfunded obligation consisted of $ 20 million of funded obligations recorded to “Other Non-current Assets” and $ 41 million of underfunded obligations substantially all recorded to “Other Non-current Liabilities” on our Consolidated Balance Sheets.

As of December 31, 2024, the net underfunded obligation consisted of $ 17 million of funded obligations recorded to “Other Non-current Assets” and $ 43 million of underfunded obligations substantially all recorded to “Other Non-current Liabilities” on our Consolidated Balance Sheets.

Additionally, the consolidated pre-tax amount in accumulated other comprehensive income as of December 31, 2025 and December 31, 2024, that has not yet been recognized as a component of net periodic benefit cost was a net gain of $ 12 million and $ 6 million, respectively.

The decrease is due to the the deferral of actuarial losses for 2024, the strengthening of the U.S.

The increase is due to the deferral of actuarial gains for 2025, the weakening of the U.S.

Dollar for our non-U.S.

21 unchanged sentences

Share-Based Plan

The Weatherford International plc Third Amended and Restated 2019 Equity Incentive Plan, (“2019 Equity Plan”) authorizes the issuance of 8.6 million shares of ordinary shares by the Board of Directors in the form of options, share appreciation rights, restricted share awards, restricted share units (“RSUs”), performance-based restricted share units (“PSUs”) and other share-based and performance-based awards to any employee, consultant, or non-employee director (“Grantees”).

The Weatherford International plc Fourth Amended and Restated 2019 Equity Incentive Plan, (“2019 Equity Plan”) authorizes the issuance of 9.9 million shares of ordinary shares by the Board of Directors in the form of options, share appreciation rights, restricted share awards, restricted share units (“RSUs”), performance-based restricted share units (“PSUs”) and other share-based and performance-based awards to any employee, consultant, or non-employee director (“Grantees”).

The provisions of each award vary based on the type of award granted.

13 unchanged sentences

The fair value of RSUs vested during 2025, 2024 and 2023 was $ 25 million, $ 28 million and $ 34 million, respectively.

RSUs were primarily settled in shares, with cash settlements totaling less than $ 1 million in both 2024 and 2023, and $ 2 million in 2022.

RSUs were primarily settled in shares, with cash settlements, including dividend equivalent rights, totaling less than $ 1 million each in 2025, 2024, and 2023.

PSUs generally vest based on continued employment and the achievement of an established target.

3 unchanged sentences

The WAGD FV per unit of PSUs granted during 2025, 2024 and 2023 was $ 55.53 , $ 120.13 and $ 70.91 , respectively.

The fair value of PSUs vested during 2023 was $ 118 million and nil , for 2022 and 2024.

The fair value of PSUs vested during 2025 was $ 112 million, nil for 2024 and $ 118 million for 2023, PSUs were primarily settled in shares, with $ 1 million settled in cash, including dividend equivalent rights, in 2025 and no cash settlements in 2024 or 2023.

The fair value of PSUs subject to operational performance conditions is determined based on the closing price of our shares on the date of grant.

2 unchanged sentences

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

The fair value of PSUs subject to market conditions is determined by utilizing an advanced option-pricing model.

The fair value of PSUs subject to market conditions was determined based on a Monte Carlo simulation method.

Compensation cost is fully recognized if the employment condition is met, even if the market condition is not achieved, as the likelihood of achieving the market condition is incorporated into the fair value of the award.

8 unchanged sentences

The dividend yield is based on historical dividend payments and expectations of management.

For the year ended December 31, 2024, expected volatility was based on our NASDAQ trading history, and for the year ended December 31, 2023, also incorporated the volatility of our constituents.

For the year ended December 31, 2022, the expected volatility was based on comparable companies’ volatility due to our NASDAQ trading history being shorter than the performance period.

The expected life in years is based on the performance measurement period.

For the years ended December 31, 2025 and December 31, 2024, expected volatility was based on our NASDAQ trading history, and for the year ended December 31, 2023, also incorporated the volatility of our constituents.

The expected life in years is based on the time to vest from the grant date through the end of the performance measurement period.

Summary of Awards Activity

10 unchanged sentences

each balance sheet date.

(2) A maximum of 2,353 PSUs are eligible to vest,which includes 1,751 PSUs at the target performance level, an additional 219

PSUs expected to vest based on actual performance exceeding target by year-end and 383 PSUs eligible to earn a 200 % performance

goal multiplier.

(2) The table presents PSUs at the target level;

under the award terms, a maximum of 1,299 PSUs may vest, consisting of 715 PSUs at target 105 PSUs that have already been earned and 479 additional PSUs that may be earned under applicable performance multipliers.

Due to above‑target performance, an additional 218 PSUs vested, resulting in 1,584 PSUs vesting during 2025 compared to 1,366 at target

Weatherford International plc – 2025 Form 10-K | 71

1 unchanged sentence

15 – Shareholders’ Equity

Our ordinary shares outstanding balance remained consistent at 72.1 million as of both December 31, 2024 and December 31, 2023.

During the twelve months ended December 31, 2024 we issued of 0.9 million of our ordinary shares related to acquisitions and 0.2 million of our ordinary shares for equity awards vested and delivered, net of shares withheld for taxes, offset by the cancellation of 1.1 million of our ordinary shares repurchased for $ 100 million (which includes repurchased shares pending settlement of approximately $ 1 million), under a $ 500 million share repurchase program announced on July 23, 2024.

Ordinary shares for the years ended December 31, 2023 and 2022 primarily increased upon the vesting and settlement of awards made under the 2019 Equity Plan.

Our ordinary shares outstanding balance decreased from 72.1 million as of December 31, 2024 to 71.6 million as of December 31, 2025.

The decrease was due to the cancellation of 1.8 million of our ordinary shares repurchased during the year, partially offset by the issuance of 1.3 million of our ordinary shares for equity awards vested and delivered, net of shares withheld for taxes.

Cash paid for repurchases of our ordinary shares during the year totaled $ 101 million, including $ 1 million settled in 2025 related to repurchases with a trade date of December 31, 2024.

Ordinary shares for the year ended December 31, 2024 remained consistent with the year ended December 31, 2023, as issuances of our ordinary shares related to acquisitions and vesting and settlement of equity awards were offset by repurchases of our ordinary shares.

Ordinary shares for the year ended December 31, 2023 primarily increased upon the vesting and settlement of awards made under the 2019 Equity Plan.

On July 23, 2024, we announced our Board authorization of a dividend program under which we intend to pay regular quarterly cash dividends, subject to our Board’s discretion and continuing determination that it is in the best interest of the Company and complies with applicable legal requirements.

The announcement included a cash dividend declaration of $ 0.25 per share of the Company’s ordinary shares.

During the twelve months ended December 31, 2025, we declared and paid $ 72 million in dividends and accrued $ 2 million in accrued dividend equivalent rights on share-based awards.

During the twelve months ended December 31, 2024, we declared and paid $ 36 million in dividends and accrued $ 2 million in dividend equivalent rights on share-based awards.

2 unchanged sentences

16 – Income per Share

A reconciliation of the number of weighted average shares used for the basic and diluted income (loss) per share calculation for the periods presented was as follows:

A reconciliation of the number of weighted average shares used for the basic and diluted income per share calculation for the periods presented was as follows:

Year Ended December 31,

17 unchanged sentences

Warrants to purchase 7.8 million ordinary shares at $ 99.96 per share were issued on December 13, 2019 and expired on December 13, 2023.

For the years ended December 31, 2023 and December 31, 2022 the warrants were excluded from the diluted weighted average shares outstanding as the exercise price of the warrants was greater than the average market price of the Company’s ordinary shares.

For the year ended December 31, 2023 the warrants were excluded from the diluted weighted average shares outstanding as the exercise price of the warrants was greater than the average market price of the Company’s ordinary shares.

Weatherford International plc – 2025 Form 10-K | 73

10 unchanged sentences

The difference between the Irish income tax provision and the consolidated income tax provision is analyzed below.

During the fourth quarter of 2025, we adopted ASU 2023-09 (see "Note 1 Summary of Significant Accounting Policies" for further discussion on ASU 2023-09) on a prospective basis.

As such, we have updated income tax disclosure presentations as of and for the year ended December 31, 2025 in order to comply with ASU 2023-09, but have not retrospectively applied these presentational changes to any of the prior periods presented.

This adoption of ASU 2023-09 resulted in presentational differences of our income tax disclosures and did not result in a change to the calculations of our income before income taxes, current tax expense, deferred tax expense or effective tax rates for the year ended December 31, 2025.

The Company is domiciled in Ireland and is subject to Ireland corporate income tax.

In addition, we are subject to other income taxes, including those in the U.S.

and in various foreign jurisdictions.

Our consolidated effective tax rate reconciliation for the year ended December 31, 2025 is summarized below (in millions, except percentages):

Weatherford International plc – 2025 Form 10-K | 74

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Year Ended December 31,

2 unchanged sentences

$ ( 138 ) 25.0 %

State and Local Income Taxes, net of federal income tax effect

Foreign Tax Effects

Changes in valuation allowances

Statutory tax rate difference

Changes in valuation allowances

Statutory tax rate difference

Changes in valuation allowances

United Arab Emirates

Statutory tax rate difference

United States

Changes in valuation allowances

Other foreign jurisdictions

Effect of cross border tax laws

Changes in valuation allowances

Nontaxable or nondeductible items

Changes in unrecognized tax benefits

Income Tax Provision

$ ( 97 ) 17.5 %

Year Ended December 31,

(Dollars in millions) 2024 2023

Irish Income Tax Provision Tax Rate of 25%

$ ( 185 ) $ ( 126 )

Tax Provision on Operating Earnings/Losses Subject to Rates Different than the Irish Income Tax Rate ( 75 ) 52

Tax (Provision) Benefit on Swiss Loss from internal liquidation of subsidiary and internal restructuring

Decrease (Increase) in Valuation Allowance attributed to Swiss Loss and internal restructuring

Decrease (Increase) in Valuation Allowance on Operating Earnings/Losses

1 unchanged sentence

Income Tax Provision $ ( 189 ) $ ( 57 )

Weatherford International plc – 2025 Form 10-K | 75

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

Our income tax provisions generally do not correlate to our consolidated income (loss) before tax.

1 unchanged sentence

Certain charges and impairments recognized do not result in significant tax benefit as a result of being attributed to a non-income tax jurisdiction or our inability to forecast realization of the tax benefit of such losses.

For the year ended December 31, 2024, income tax expense was higher than 2023, primarily driven by increased activity and operating profits, profit mix in various jurisdictions that we operate and lower valuation allowance releases.

For the year ended December 31, 2025, income tax expense was lower than 2024, primarily driven by the lower earnings and the release of $ 70 million in benefits from previously uncertain tax positions due to audit settlements and lapses in the statute of limitations, partially offset by a decrease in the amount of valuation allowance releases as compared to 2024.

During the year ended December 31, 2024, income tax expense was primarily driven by increased activity and operating profits, profit mix in various jurisdictions that we operate and lower valuation allowance releases.

During the year ended December 31, 2023, income tax expense includes a one-time benefit of $ 115 million, due to the release of valuation allowances and the recognition of benefits from previously uncertain tax positions.

Those benefits were offset by the establishment of valuation allowance of approximately $ 50 million against the sale of Blue Chip Swap securities and currency devaluation in Argentina (see Note 18 – Blue Chip Swap Securities - Argentina).

During the year ended December 31, 2022, income tax expense was lower by $ 35 million, due to the release of valuation allowances and $ 27 million, due to the recognition of a benefit from previously uncertain tax positions.

Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the tax basis of an asset or liability and its reported amount in the Consolidated Financial Statements.

The measurement of deferred tax assets and liabilities is based on enacted tax laws and rates currently in effect in each of the jurisdictions in which we have operations.

Weatherford International plc – 2024 Form 10-K | 76

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

The components of the net deferred tax asset were as follows:

24 unchanged sentences

The Company considers all available evidence (both positive and negative) when determining whether a valuation allowance is required, with emphasis on our past operating results, the existence of cumulative losses in the most recent years and our forecast of near- term taxable income.

The Company evaluates possible sources of taxable income that may be available to realize the benefit of deferred tax assets, including projected future taxable income, the reversal of existing temporary differences, taxable income in carryback years and available tax planning strategies, in making this assessment.

The Company evaluates possible sources of taxable income that may be available to realize the benefit of

Weatherford International plc – 2025 Form 10-K | 76

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

deferred tax assets, including projected future taxable income, the reversal of existing temporary differences, taxable income in carryback years and available tax planning strategies, in making this assessment.

The valuation allowance decreased by $ 65 million in 2025.

The majority of the decrease is in conjunction with a remeasurement of net deferred tax assets of approximately $ 113 million, $ 47 million due to the release of valuation allowances where deferred tax assets are now considered more likely than not to be realized in the future, and the utilization of net operating losses previously not expected to be realized against operating earnings.

The remaining movement in the valuation allowance was attributable to foreign currency translation.

The decrease is primarily driven by $ 24 million of remeasurement of net deferred tax assets and $ 12 million due to the release of valuation allowances where deferred tax assets are now considered more likely than not to be realized in the future.

The remaining net decrease in the valuation allowance during the year relates to the movement in our underlying valued net deferred tax assets based on current year activity as well as changes attributable to foreign currency translation.

Deferred income taxes generally have not been recognized on the cumulative undistributed earnings of our non-Irish subsidiaries because they are considered to be indefinitely reinvested.

Distribution of these earnings in the form of dividends or otherwise may result in a combination of income and withholding taxes payable in various countries.

As of December 31, 2024, the pool of positive undistributed earnings of our non-Irish subsidiaries that are considered indefinitely reinvested and may be subject to tax, if distributed, amounts to approximately $ 444 million.

The amount is reduced from the prior period due to the favorable impact of the enactment of dividend participation exemption in Ireland effective January 1, 2025.

Due to complexities in the tax laws and the manner of repatriation, it is not practicable to estimate the unrecognized amount of deferred income taxes and the related dividend withholding taxes associated with these undistributed earnings.

Weatherford International plc – 2024 Form 10-K | 77

Table of Contents Item 9 | Changes in and Disagreement with Accountants on Accounting and Financial Disclosure

At December 31, 2025, we had approximately $ 3.1 billion of net operating losses (“NOLs”) in various jurisdictions.

Our non-indefinite loss carryforwards, if not utilized, will mostly expire for U.S.

subsidiaries from 2030 through 2037 and at various dates from 2024 through 2043 for non-U.S.

subsidiaries.

Upon emergence from bankruptcy in December 2019, our U.S.

subsidiaries experienced an ownership change as the Company’s emergence was considered an “ownership change” for purposes of Internal Revenue Code section 382.

The Internal Revenue Code sections 382 and 383 impose limitations on the ability of a company to utilize tax attributes after experiencing an “ownership change.” As a result, we estimated our annual limitation is approximately $ 23 million against the utilization of our U.S.

loss carryforwards and other tax attributes, including unused recognized built-in losses and U.S.

interest deferral.

Upon emergence, we estimated that the maximum U.S.

NOLs available for utilization in the future was $ 713 million as of December 31, 2019.

Our non-indefinite loss carryforwards, which are limited by Internal Revenue Code section 382 and total $ 0.4 billion as of December 31, 2025, and if not utilized, will mostly expire for U.S.

subsidiaries from 2035 through 2036.

Our non-indefinite loss carryforwards for our non-US subsidiaries will mostly expire at various dates from 2026 through 2044.

In 2021, we executed a liquidation transaction of one of our Swiss holding companies which resulted in the forfeiture of impairment losses of $ 1.3 billion generated in 2020.

In addition, the liquidation transaction resulted in approximately $ 5.6 billion of tax losses (NOLs) in Switzerland of which $ 3.4 billion was deemed worthless and excluded from the deferred tax table, and $ 2.2 billion was recorded as an NOL and included in the table as management expects to utilize those NOLs on our future tax returns.

However, in addition to recording a deferred tax asset of $ 303 million related to the $ 2.2 billion tax losses, we recorded a valuation allowance against the full $ 303 million because it will offset future income that is otherwise exempt from tax.

In 2023, the deferred tax asset was reduced by $ 141 million attributed to utilization with a corresponding valuation allowance release.

In 2023, we recognized a deferred tax asset of $ 59 million relating to a final agreement with the taxing authorities in relation to an adjustment in tax base beginning of 2021, and we recorded a $ 57 million valuation allowance against the deferred tax asset as it is more likely than not that a majority of it will not be realized.

In addition, the liquidation transaction resulted in approximately $ 5.6 billion of tax losses (NOLs) in Switzerland, of which $ 2.7 billion was deemed worthless and is not included in the deferred tax table as of December 31, 2025.

A tabular reconciliation of the total amounts of uncertain tax positions at the beginning and end of the period is as follows:

2 unchanged sentences

Balance at Beginning of Year $ 201 $ 203 $ 191

Additions as a Result of Tax Positions Taken During a Prior Period 7 9 14

Reductions as a Result of Tax Positions Taken During a Prior Period ( 2 ) ( 12 ) ( 15 )

Additions as a Result of Tax Positions Taken During the Current Period 13 19 11

Additions for tax positions of prior periods 7 7 9

Additions based on tax positions for the current period 14 13 19

Reductions for tax positions of prior periods ( 2 ) ( 2 ) ( 12 )

Reductions relating to settlements with taxing authorities ( 33 ) ( 5 ) ( 3 )

Reductions as a Result of a Lapse of the Applicable Statute of Limitations ( 8 ) ( 6 ) ( 11 )

Reductions due to a lapse of the statute of limitations ( 15 ) ( 8 ) ( 6 )

Foreign Exchange Effects 7 ( 7 ) 5

6 unchanged sentences

Weatherford International plc – 2025 Form 10-K | 77

Table of Contents Item 10 | Directors, Executive Officers and Corporate Governance

Table of Contents Item 8 | Notes to the Consolidated Financial Statements

We are subject to income tax in many of the approximately 75 countries where we operate.

We are continuously under tax examination in various jurisdictions and cannot predict the timing or outcome regarding the resolutions or if they will have a material impact on our financial statements.

As of December 31, 2025, the following table summarizes the tax years that remain subject to examination for the major jurisdictions in which we operate:

7 unchanged sentences

United States (Federal) 2021 - 2025

As of December 31, 2024, we anticipate that it is reasonably possible that the amount of uncertain tax positions may decrease by up to $ 31 million in the next twelve months due to expiration of statutes of limitations, settlements and/or conclusions of tax examinations.

The following table summarizes income taxes paid during the year ended December 31, 2025, net of refunds, by jurisdiction.

Federal and state taxes paid did not meet the 5% disclosure threshold as required by ASU 2023-09.

Cash taxes, net of refunds, were $ 168 million and $ 132 million for 2024 and 2023, respectively.

(Dollars in millions) 2025

Argentina $ 11

18 – Blue Chip Swap Securities - Argentina

9 unchanged sentences

GAAP as the BCS rates do not meet the criteria for remeasurement under U.S.

18 – Acquisitions

During the year ended December 31, 2024, we closed on acquisitions with total consideration of $ 160 million, which includes $ 51 million in cash net of cash acquired and 0.9 million of our ordinary shares valued at $ 79 million on the closing dates.

The purchases were accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification “ASC” 805 Business Combinations and the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values measured in accordance with the guidance under ASC 820 Fair Value Measurement.

The fair value measurements of the intangible assets were based on inputs not observable in the market and therefore represent Level 3 measurements.

The fair value of intangible assets acquired was $ 99 million and the goodwill and contingent considerations were each immaterial.

Acquisition-related costs incurred by the Company are expensed as incurred.

The operating results of the acquired businesses were included in the Company’s results of operations from the dates of acquisition.

See also “Note 6 – Intangible Assets, Net” and “Note 14 – Shareholders’ Equity” in our Notes to Consolidated Financial Statements.

19 – Subsequent Event

19 – Subsequent Events

Declaration of cash dividend

On January 26, 2026, our Board of Directors declared a cash dividend of $ 0.275 per share of the Company’s ordinary shares, payable on March 5, 2026 to shareholders of record as of February 6, 2026.

Weatherford International plc – 2025 Form 10-K | 78

Table of Contents Item 15 | Exhibits

Table of Contents Item 9 | Changes in and Disagreement with Accountants on Accounting and Financial Disclosure

Changes in and Disagreement with Accountants on Accounting and Financial Disclosure.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 8. Financial Statements and Supplementary Data