10-Q Filing

NOV INC. CIK: 1021860 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-073636`
Period End Date	20110630
Filing Date	20110805
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	nov-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 76 Cash Flow Statement 68

Balance Sheet 76 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.33B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	423.23M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	421.14M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.44B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.62B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.69B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.85B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.42B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	423.23M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	421.14M	shares	Point-in-time
Inventories, net	`InventoryNet`	$3.39B	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.76B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$499.00M	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$815.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$301.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$316.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$381.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$258.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.54B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.23B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.84B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.92B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$341.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$179.00M	USD	Point-in-time
Goodwill	`Goodwill`	$5.95B	USD	Point-in-time
Goodwill	`Goodwill`	$5.79B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.06B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.10B	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$386.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$361.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$57.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.00M	USD	Point-in-time
Total assets	`Assets`	$23.05B	USD	Point-in-time
Total assets	`Assets`	$23.76B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$628.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$745.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.10B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.18B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$778.00M	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$511.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$2.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$373.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$468.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$178.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$368.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$451.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.25B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.54B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$511.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$514.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.89B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.81B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$253.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$275.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.85B	USD	Point-in-time
Total liabilities	`Liabilities`	$7.19B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - par value $.01; 423,228,599 and 421,141,751 shares issued and outstanding at June 30, 2011 and December 31, 2010	`CommonStockValue`	$4.00M	USD	Point-in-time
Common stock - par value $.01; 423,228,599 and 421,141,751 shares issued and outstanding at June 30, 2011 and December 31, 2010	`CommonStockValue`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.47B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.35B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$225.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$91.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.30B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.10B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$16.79B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$15.75B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$114.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$115.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.86B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.91B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.76B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.05B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$6.66B	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$5.97B	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$2.94B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$3.51B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$4.08B	USD	2 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$4.60B	USD	2 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.01B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.43B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.08B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.89B	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.06B	USD	2 Qtrs
Gross profit	`GrossProfit`	$928.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$741.00M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$338.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$663.00M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$375.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.23B	USD	2 Qtrs
Operating profit	`OperatingIncomeLoss`	$590.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$708.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.32B	USD	2 Qtrs
Interest and financial costs	`InterestExpense`	$26.00M	USD	2 Qtrs
Interest and financial costs	`InterestExpense`	$13.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$23.00M	USD	2 Qtrs
Interest and financial costs	`InterestExpense`	$9.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$8.00M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$10.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$23.00M	USD	2 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$14.00M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-26.00M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-7.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-19.00M	USD	2 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$585.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$1.30B	USD	2 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$706.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$1.20B	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$226.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$415.00M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$383.00M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$186.00M	USD	1 Quarter
Net income	`ProfitLoss`	$818.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$399.00M	USD	1 Quarter
Net income	`ProfitLoss`	$884.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$480.00M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-4.00M	USD	2 Qtrs
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.00M	USD	2 Qtrs
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$481.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$888.00M	USD	2 Qtrs
Net income attributable to Company	`NetIncomeLoss`	$401.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$823.00M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.96	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.97	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.11	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.96	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.10	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.13	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.11	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.22	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	422.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	421.00M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	424.00M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	425.00M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$818.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$399.00M	USD	1 Quarter
Net income	`ProfitLoss`	$884.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$480.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$273.00M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$251.00M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-9.00M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-85.00M	USD	2 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$10.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$23.00M	USD	2 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$14.00M	USD	2 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$17.00M	USD	2 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$45.00M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-33.00M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-5.00M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$379.00M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$205.00M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-29.00M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$363.00M	USD	2 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$316.00M	USD	2 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$-62.00M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$110.00M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.00M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.00M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$88.00M	USD	2 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$636.00M	USD	2 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$-267.00M	USD	2 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$135.00M	USD	2 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-157.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$282.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$887.00M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$78.00M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$192.00M	USD	2 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$259.00M	USD	2 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$62.00M	USD	2 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$13.00M	USD	2 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$16.00M	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-14.00M	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-16.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-424.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-108.00M	USD	2 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$9.00M	USD	2 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$372.00M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$93.00M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$84.00M	USD	2 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$71.00M	USD	2 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$8.00M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$3.00M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$16.00M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-378.00M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-82.00M	USD	2 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$22.00M	USD	2 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-26.00M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$66.00M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$107.00M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.33B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.44B	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`	$2.69B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.33B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.44B	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`	$2.69B	USD	Point-in-time
Interest	`InterestPaidNet`	$28.00M	USD	2 Qtrs
Interest	`InterestPaidNet`	$30.00M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$262.00M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$712.00M	USD	2 Qtrs

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