10-Q Filing

NOV INC. CIK: 1021860 Q3 2010

Filing Information

Form Type	10-Q
Accession Number	`0000950123-10-101447`
Period End Date	20100930
Filing Date	20101105
Fiscal Year	2010
Fiscal Period	Q3
XBRL Instance	nov-20100930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 76 Cash Flow Statement 66

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	418.45M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.07B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.62B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.54B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.19B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	419.17M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	419.17M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	418.45M	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.19B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.41B	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.56B	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.49B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$740.00M	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$769.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$290.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$232.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidAndOtherCurrentAssets`	$269.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidAndOtherCurrentAssets`	$285.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.33B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.60B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.84B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$269.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$92.00M	USD	Point-in-time
Goodwill	`Goodwill`	$5.53B	USD	Point-in-time
Goodwill	`Goodwill`	$5.49B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.05B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$3.88B	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$393.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$365.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$61.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$72.00M	USD	Point-in-time
Total assets	`Assets`	$22.23B	USD	Point-in-time
Total assets	`Assets`	$21.53B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$584.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$585.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.29B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.27B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$1.09B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$293.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$7.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$354.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$351.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$226.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.87B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.17B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$876.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$516.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.09B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.20B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$242.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$163.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.30B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.83B	USD	Point-in-time
Common stock - par value $.01; 419,167,762 and 418,451,731 shares issued and outstanding at Sep 30, 2010 and December 31, 2009	`CommonStockValue`	$4.00M	USD	Point-in-time
Common stock - par value $.01; 419,167,762 and 418,451,731 shares issued and outstanding at Sep 30, 2010 and December 31, 2009	`CommonStockValue`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.21B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.27B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$109.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$90.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.91B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.80B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$14.11B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$15.29B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$118.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$115.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.23B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.40B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$21.53B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$22.23B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$3.01B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$9.58B	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$3.09B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$8.98B	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$6.77B	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.07B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$6.15B	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.20B	USD	1 Quarter
Gross profit	`GrossProfit`	$2.81B	USD	3 Qtrs
Gross profit	`GrossProfit`	$891.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$945.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.83B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$349.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$279.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$932.00M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01B	USD	3 Qtrs
Intangible asset impairment	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$147.00M	USD	3 Qtrs
Transaction and restructuring costs	`OtherCostAndExpenseOperating`	$11.00M	USD	1 Quarter
Transaction and restructuring costs	`OtherCostAndExpenseOperating`	$19.00M	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$596.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$601.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.71B	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$1.82B	USD	3 Qtrs
Interest and financial costs	`InterestExpense`	$14.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$38.00M	USD	3 Qtrs
Interest and financial costs	`InterestExpense`	$40.00M	USD	3 Qtrs
Interest and financial costs	`InterestExpense`	$12.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.00M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.00M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$45.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$22.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-23.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-87.00M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-42.00M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-13.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$579.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$1.63B	USD	3 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$1.77B	USD	3 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$573.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$169.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$551.00M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$552.00M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$192.00M	USD	1 Quarter
Net income	`ProfitLoss`	$387.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.08B	USD	3 Qtrs
Net income	`ProfitLoss`	$404.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.22B	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$7.00M	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.00M	USD	1 Quarter
Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.00M	USD	3 Qtrs
Net income attributable to Company	`NetIncomeLoss`	$1.23B	USD	3 Qtrs
Net income attributable to Company	`NetIncomeLoss`	$385.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$404.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$1.07B	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$2.94	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$2.58	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.93	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.92	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.93	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.58	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	416.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	416.00M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	417.00M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	418.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	3 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$387.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.08B	USD	3 Qtrs
Net income	`ProfitLoss`	$404.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.22B	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$378.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$364.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$22.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$45.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$86.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$17.00M	USD	3 Qtrs
Intangible asset impairment	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$147.00M	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$29.00M	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$-53.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$238.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-979.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-103.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$101.00M	USD	3 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$-29.00M	USD	3 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$7.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$122.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-384.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.00M	USD	3 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$797.00M	USD	3 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$545.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-350.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-290.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$735.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.97B	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$140.00M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$186.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$69.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$392.00M	USD	3 Qtrs
Business divestitures, net of cash disposed	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$251.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$16.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$8.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-23.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-170.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-319.00M	USD	3 Qtrs
Borrowings against lines of credit and other debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	3 Qtrs
Borrowings against lines of credit and other debt	`ProceedsFromIssuanceOfLongTermDebt`	$7.00M	USD	3 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$13.00M	USD	3 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$35.00M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$126.00M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$3.00M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$14.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-123.00M	USD	3 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.00M	USD	3 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$24.00M	USD	3 Qtrs
Increase in cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.65B	USD	3 Qtrs
Increase in cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$448.00M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.62B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.54B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.19B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.62B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.54B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.19B	USD	Point-in-time
Interest	`InterestPaidNet`	$37.00M	USD	3 Qtrs
Interest	`InterestPaidNet`	$38.00M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$603.00M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$344.00M	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.