10-Q Filing

NOV INC. CIK: 1021860 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-203945`
Period End Date	20130331
Filing Date	20130507
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	nov-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 38 Cash Flow Statement 60 Comprehensive Income 12

Balance Sheet 79 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 authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.54B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	427.22M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.44B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	426.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.39B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	427.22M	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$4.32B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$4.28B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	426.93M	shares	Point-in-time
Inventories, net	`InventoryNet`	$6.13B	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.89B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$1.33B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$1.23B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$349.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$332.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$574.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$474.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.68B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.99B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.21B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.94B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$395.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$413.00M	USD	Point-in-time
Goodwill	`Goodwill`	$7.17B	USD	Point-in-time
Goodwill	`Goodwill`	$9.01B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$4.74B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$5.40B	USD	Point-in-time
Investment in unconsolidated affiliates	`EquityMethodInvestments`	$393.00M	USD	Point-in-time
Investment in unconsolidated affiliates	`EquityMethodInvestments`	$410.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$138.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$140.00M	USD	Point-in-time
Total assets	`Assets`	$31.48B	USD	Point-in-time
Total assets	`Assets`	$33.56B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.28B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.57B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.47B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$1.19B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$1.09B	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$1.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$406.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$355.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$333.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$296.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.55B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.65B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.15B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.35B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.00B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.54B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$334.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$439.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.13B	USD	Point-in-time
Total liabilities	`Liabilities`	$12.88B	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; 1 billion shares authorized; 427,216,689 and 426,928,322 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$4.00M	USD	Point-in-time
Common stock - par value $.01; 1 billion shares authorized; 427,216,689 and 426,928,322 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.74B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.77B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-58.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$105.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$107.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.83B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$20.55B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$20.24B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$130.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$117.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.68B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.36B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.48B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.56B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$5.31B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$4.30B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$4.04B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$3.04B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.26B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.27B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$513.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$390.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$751.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$877.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$28.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$8.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00M	USD	1 Quarter
Equity income in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$19.00M	USD	1 Quarter
Equity income in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$17.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-21.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-16.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$724.00M	USD	1 Quarter
Income before income taxes	`IncomeBeforeIncomeTaxes`	$873.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$269.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$224.00M	USD	1 Quarter
Net income	`ProfitLoss`	$604.00M	USD	1 Quarter
Net income	`ProfitLoss`	$500.00M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$502.00M	USD	1 Quarter
Net income attributable to Company	`NetIncomeLoss`	$606.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.43	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.42	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.13	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	426.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	423.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	426.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	428.00M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$604.00M	USD	1 Quarter
Net income	`ProfitLoss`	$500.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$174.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$148.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$119.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-33.00M	USD	1 Quarter
Equity income in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$19.00M	USD	1 Quarter
Equity income in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$17.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-18.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$40.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-208.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$492.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$13.00M	USD	1 Quarter
Costs in excess of billings	`CostsInExcessOfBillings`	$217.00M	USD	1 Quarter
Costs in excess of billings	`CostsInExcessOfBillings`	$108.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$99.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-130.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-8.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.00M	USD	1 Quarter
Billings in excess of costs	`BillingsInExcessOfCosts`	$-97.00M	USD	1 Quarter
Billings in excess of costs	`BillingsInExcessOfCosts`	$100.00M	USD	1 Quarter
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$246.00M	USD	1 Quarter
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$272.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$506.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-64.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$113.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$168.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.38B	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$58.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-8.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-11.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-160.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.54B	USD	1 Quarter
Borrowings against lines of credit and other debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.39B	USD	1 Quarter
Repayments on debt	`RepaymentsOfLongTermDebt`	$186.00M	USD	1 Quarter
Repayments on debt	`RepaymentsOfLongTermDebt`	$1.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$51.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$56.00M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$5.00M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$88.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$13.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$22.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.16B	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$58.00M	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-11.00M	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$21.00M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-145.00M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-878.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.39B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.54B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.44B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.39B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.54B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.44B	USD	Point-in-time
Interest	`InterestPaidNet`	$6.00M	USD	1 Quarter
Interest	`InterestPaidNet`	$7.00M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$171.00M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$224.00M	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$604.00M	USD	1 Quarter
Net income	`ProfitLoss`	$500.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-117.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$65.00M	USD	1 Quarter
Changes in derivative financial instruments, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-48.00M	USD	1 Quarter
Changes in derivative financial instruments, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$63.00M	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-732.00M	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-335.00M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Comprehensive income attributable to Company	`ComprehensiveIncomeNetOfTax`	$734.00M	USD	1 Quarter
Comprehensive income attributable to Company	`ComprehensiveIncomeNetOfTax`	$337.00M	USD	1 Quarter

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