10-Q Filing

NOV INC. CIK: 1021860 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-147204`
Period End Date	20170331
Filing Date	20170428
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	nov-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 37 Cash Flow Statement 64 Comprehensive Income 12

Balance Sheet 74 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
Common stock, shares issued	`CommonStockSharesIssued`	378.64M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.41B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.08B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	380.06M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.48B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	380.06M	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$1.98B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	378.64M	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.08B	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.25B	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.33B	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$665.00M	USD	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$653.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$380.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$395.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.88B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.74B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.15B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.11B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$86.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$87.00M	USD	Point-in-time
Goodwill	`Goodwill`	$6.07B	USD	Point-in-time
Goodwill	`Goodwill`	$6.07B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$3.47B	USD	Point-in-time
Intangibles, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$3.53B	USD	Point-in-time
Investment in unconsolidated affiliates	`EquityMethodInvestments`	$307.00M	USD	Point-in-time
Investment in unconsolidated affiliates	`EquityMethodInvestments`	$302.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$124.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$131.00M	USD	Point-in-time
Total assets	`Assets`	$21.14B	USD	Point-in-time
Total assets	`Assets`	$20.90B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$388.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.57B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.51B	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$363.00M	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCost`	$440.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$506.00M	USD	Point-in-time
Current portion of long-term debt and short-term borrowings	`DebtCurrent`	$506.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$83.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$119.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.05B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.85B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.71B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.71B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.06B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.04B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$317.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$318.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.14B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.92B	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; 380,060,041 and 378,637,403 shares issued and outstanding at March 31, 2017 and December 31, 2016	`CommonStockValue`	$4.00M	USD	Point-in-time
Common stock - par value $.01; 1 billion shares authorized; 380,060,041 and 378,637,403 shares issued and outstanding at March 31, 2017 and December 31, 2016	`CommonStockValue`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.13B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.10B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.45B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.36B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.29B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.14B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$13.92B	USD	Point-in-time
Total Company stockholders' equity	`StockholdersEquity`	$13.94B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$64.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$63.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.98B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.00B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$21.14B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$20.90B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$2.19B	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.74B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.95B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.53B	USD	1 Quarter
Gross profit	`GrossProfit`	$244.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$209.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$306.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$433.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-97.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-189.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$25.00M	USD	1 Quarter
Interest and financial costs	`InterestExpense`	$25.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00M	USD	1 Quarter
Equity loss in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-6.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-11.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-21.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-236.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-129.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-9.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-118.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-120.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-118.00M	USD	1 Quarter
Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.00M	USD	1 Quarter
Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.00M	USD	1 Quarter
Net loss attributable to Company	`NetIncomeLoss`	$-122.00M	USD	1 Quarter
Net loss attributable to Company	`NetIncomeLoss`	$-119.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.05	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.46	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	375.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	376.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	375.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	376.00M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-120.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-118.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$175.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$175.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$4.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-135.00M	USD	1 Quarter
Equity loss in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-6.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-83.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-55.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-101.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-706.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-65.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-112.00M	USD	1 Quarter
Costs in excess of billings	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-210.00M	USD	1 Quarter
Costs in excess of billings	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-12.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-16.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-26.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-157.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-61.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-231.00M	USD	1 Quarter
Billings in excess of costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-81.00M	USD	1 Quarter
Billings in excess of costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-77.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-65.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.00M	USD	1 Quarter
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-8.00M	USD	1 Quarter
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-127.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$621.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$111.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$84.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$21.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-6.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-103.00M	USD	1 Quarter
Borrowings against lines of credit and other debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.37B	USD	1 Quarter
Payments against lines of credit and other debt	`RepaymentsOfLongTermDebt`	$2.00M	USD	1 Quarter
Payments against lines of credit and other debt	`RepaymentsOfLongTermDebt`	$3.05B	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$19.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$173.00M	USD	1 Quarter
Activity under stock incentive plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.00M	USD	1 Quarter
Activity under stock incentive plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$9.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-861.00M	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.00M	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$22.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$71.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-321.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.41B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.08B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.41B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.08B	USD	Point-in-time
Interest	`InterestPaidNet`	$3.00M	USD	1 Quarter
Interest	`InterestPaidNet`	$3.00M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$56.00M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-32.00M	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-120.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-118.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$90.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$143.00M	USD	1 Quarter
Changes in derivative financial instruments, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$102.00M	USD	1 Quarter
Changes in derivative financial instruments, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$5.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-25.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$127.00M	USD	1 Quarter
Comprehensive income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.00M	USD	1 Quarter
Comprehensive income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.00M	USD	1 Quarter
Comprehensive income (loss) attributable to Company	`ComprehensiveIncomeNetOfTax`	$126.00M	USD	1 Quarter
Comprehensive income (loss) attributable to Company	`ComprehensiveIncomeNetOfTax`	$-27.00M	USD	1 Quarter

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