Weatherford International plc (WFT) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
North America	1,104	896	889	1,987	2,047			6,852
Latin America	1,062	814	697		890	1,064	1,782	2,381
Other	2,165	1,935	2,099	3,757	2,762	4,685	7,651	5,678
Total revenues [+]	4,331	3,645	3,685	5,744	5,699	5,749	9,433	14,911
Products							3,573	6,059
Services							5,860	8,852
Revenue growth [+]	18.8%	-1.1%		0.8%	-0.9%	-39.1%	-36.7%	-2.3%
North America	23.2%	0.8%		-2.9%				7.2%
Latin America	30.5%	16.8%			-16.4%	-40.3%	-25.2%	-16.0%
Land Drilling Rigs								-19.6%
Cost of goods sold [+]	3,807	3,444	3,815	5,408	7,398	3,046	8,021	11,461
Cost of product sales							3,433	4,942
Cost of services							4,588	6,519
Gross profit	524	201	-130	336	-1,699	2,703	1,412	3,450
Gross margin	12.1%	5.5%	-3.5%	5.8%	-29.8%	47.0%	15.0%	23.1%
Selling, general and administrative [+]	112	85	1,356	2,420	130	138	227	290
General and administrative					130	138	227	290
Research and development	90	85	97	139	158	159	231	290
Other operating expenses	-121	-75	-1,527	-2,420	96	4,371	2,251	1,883
EBITDA [+]	792	546	447	753	-1,282	-1,009	-97	2,358
EBITDA growth	45.1%	22.1%		-158.7%	27.1%	940.2%	-104.1%	12.7%
EBITDA margin	18.3%	15.0%	12.1%	13.1%	-22.5%	-17.6%	-1.0%	15.8%
Depreciation	194	284	340	493	749	896	1,112	1,263
EBITA	598	262	107	260	-2,031	-1,905	-1,209	1,095
EBITA margin	13.8%	7.2%	2.9%	4.5%	-35.6%	-33.1%	-12.8%	7.3%
Amortization of intangibles	155	156	163	63	52	60	88	108
EBIT [+]	443	106	-56	197	-2,083	-1,965	-1,297	987
EBIT growth	317.9%	-289.3%		-109.5%	6.0%	51.5%	-231.4%	42.8%
EBIT margin	10.2%	2.9%	-1.5%	3.4%	-36.6%	-34.2%	-13.7%	6.6%
Non-recurring items [+]	31	-10	1,430	2,281	87	280	249	482
Asset impairment			1,053	2,155				495
Loss (gain) on sale of business					-96		6	-349
Interest expense	179	260	251	614	579	499	477	511
Interest expense	179	260	251	614	579	499	477	511
Other income (expense), net [+]	-95	-199	-77	-59	93	-133	-73	-249
Gain (loss) on sale of business								-349
Change in fair value of warrants				-70	86	16
Other	-90	-29	-62	-59	7	-30	3	-17
Pre-tax income	138	-343	-1,814	-2,757	-2,656	-2,877	-2,096	-255
Income taxes	87	86	85	34	137	496	-145	284
Tax rate	63.0%						6.9%
Minority interest	25	21	22	20	20	19	34	45
Net income	26	-450	-1,921	-2,811	-2,813	-3,392	-1,985	-584
Net margin	0.6%	-12.3%	-52.1%	-48.9%	-49.4%	-59.0%	-21.0%	-3.9%

Basic EPS [+]	$0.37	($6.43)	($27.44)	($2.82)	($2.84)	($3.82)	($2.55)	($0.75)
Growth	-105.7%	-76.6%		-0.8%	-25.7%	50.1%	239.0%	84.8%
Diluted EPS [+]	$0.36	($6.43)	($27.44)	($2.82)	($2.84)	($3.82)	($2.55)	($0.75)
Growth	-105.6%	-76.6%		-0.8%	-25.7%	50.1%	239.0%	84.8%

Shares outstanding (basic) [+]	71	70	70	997	990	887	779	777
Growth	1.4%	0.0%		0.7%	11.6%	13.9%	0.3%	0.6%
Shares outstanding (diluted) [+]	72	70	70	997	990	887	779	777
Growth	2.9%	0.0%		0.7%	11.6%	13.9%	0.3%	0.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.