10-Q Filing

NOV INC. CIK: 1021860 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-095230`
Period End Date	20110930
Filing Date	20111104
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	nov-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 74 Cash Flow Statement 67

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`	$3.87B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	423.82M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.33B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	421.14M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.62B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.07B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$3.11B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.42B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	423.82M	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`	$3.91B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$815.00M	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$531.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$282.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$316.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$258.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$339.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.54B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.04B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.84B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.97B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$341.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$194.00M	USD	Point-in-time
Goodwill	`Goodwill`	$5.79B	USD	Point-in-time
Goodwill	`Goodwill`	$5.94B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.00B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.10B	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$371.00M	USD	Point-in-time
Investment in unconsolidated affiliate	`EquityMethodInvestments`	$386.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$37.00M	USD	Point-in-time
Total assets	`Assets`	$23.05B	USD	Point-in-time
Total assets	`Assets`	$24.54B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$628.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$802.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.15B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.10B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$1.12B	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`	$399.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$468.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$270.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$451.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.54B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.74B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$510.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$514.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.78B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.89B	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`	$7.19B	USD	Point-in-time
Total liabilities	`Liabilities`	$7.30B	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; 423,817,646 and 421,141,751 shares issued and outstanding at September 30, 2011 and December 31, 2010	`CommonStockValue`	$4.00M	USD	Point-in-time
Common stock - par value $.01; 423,817,646 and 421,141,751 shares issued and outstanding at September 30, 2011 and December 31, 2010	`CommonStockValue`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.51B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.35B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$91.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$37.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.30B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.58B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$17.13B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$15.75B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$105.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$114.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$17.24B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.86B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.05B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.54B	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$3.74B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$10.40B	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$8.98B	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$3.01B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$7.18B	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$6.15B	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.07B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.58B	USD	1 Quarter
Gross profit	`GrossProfit`	$945.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.16B	USD	1 Quarter
Gross profit	`GrossProfit`	$3.22B	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.83B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$349.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$392.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.13B	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$2.09B	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$772.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.82B	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$596.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$8.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$31.00M	USD	3 Qtrs
Interest and financial costs	`InterestExpense`	$38.00M	USD	3 Qtrs
Interest and financial costs	`InterestExpense`	$12.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$13.00M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$11.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$22.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$34.00M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-26.00M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-42.00M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-23.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$780.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$1.77B	USD	3 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$2.08B	USD	3 Qtrs
Income before income taxes	`IncomeBeforeIncomeTaxes`	$573.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$552.00M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$169.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$252.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$667.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$404.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.22B	USD	3 Qtrs
Net income	`ProfitLoss`	$528.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.41B	USD	3 Qtrs
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.00M	USD	3 Qtrs
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.00M	USD	3 Qtrs
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-4.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$532.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$1.42B	USD	3 Qtrs
Net income attributable to Company	`NetIncomeLoss`	$1.23B	USD	3 Qtrs
Net income attributable to Company	`NetIncomeLoss`	$404.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.37	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.26	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.94	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.25	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.93	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$3.35	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.33	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.11	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	417.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	422.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	421.00M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	425.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	424.00M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	419.00M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$528.00M	USD	1 Quarter
Net income	`ProfitLoss`	$1.41B	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`	$413.00M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-87.00M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-179.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$11.00M	USD	1 Quarter
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$22.00M	USD	3 Qtrs
Equity income in unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$34.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$45.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`EquityMethodInvestmentDividendsOrDistributions`	$17.00M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-70.00M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-116.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$646.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$238.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$101.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$530.00M	USD	3 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$-29.00M	USD	3 Qtrs
Costs in excess of billings	`CostsInExcessOfBillings`	$284.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$78.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$146.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.00M	USD	3 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$-606.00M	USD	3 Qtrs
Billings in excess of costs	`BillingsInExcessOfCosts`	$797.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-290.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-12.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$735.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.52B	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$140.00M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$317.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$69.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$315.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$16.00M	USD	3 Qtrs
Dividend from unconsolidated affiliate	`DividendFromUnconsolidatedAffiliatesClassifiedAsInvestingActivities`	$13.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-43.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-23.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-576.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-170.00M	USD	3 Qtrs
Borrowings against lines of credit and other debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	3 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$374.00M	USD	3 Qtrs
Repayments on debt	`RepaymentsOfLongTermDebt`	$13.00M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$140.00M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$126.00M	USD	3 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$116.00M	USD	3 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$14.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-123.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-398.00M	USD	3 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.00M	USD	3 Qtrs
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-10.00M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$537.00M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$448.00M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.87B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.33B	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`	$3.07B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.87B	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`	$2.62B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07B	USD	Point-in-time
Interest	`InterestPaidNet`	$34.00M	USD	3 Qtrs
Interest	`InterestPaidNet`	$38.00M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$805.00M	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.