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10-Q Filing

NOV INC. CIK: 1021860 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-019212
Period End Date 20200331
Filing Date 20200428
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance nov-10q_20200331_htm.xml
Balance Sheet 78 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 $1.11B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 385.89M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 388.22M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.17B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 385.89M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 388.22M shares Point-in-time
Receivables, net ReceivablesNetCurrent $1.88B USD Point-in-time
Receivables, net ReceivablesNetCurrent $1.85B USD Point-in-time
Inventories, net InventoryNet $2.20B USD Point-in-time
Inventories, net InventoryNet $2.03B USD Point-in-time
Contract assets, net ContractWithCustomerAssetNetCurrent $639.00M USD Point-in-time
Contract assets, net ContractWithCustomerAssetNetCurrent $643.00M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $247.00M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $237.00M USD Point-in-time
Total current assets AssetsCurrent $5.90B USD Point-in-time
Total current assets AssetsCurrent $6.11B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.35B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.00B USD Point-in-time
Lease right-of-use assets, operating OperatingLeaseRightOfUseAsset $399.00M USD Point-in-time
Lease right-of-use assets, operating OperatingLeaseRightOfUseAsset $444.00M USD Point-in-time
Lease right-of-use assets, financing FinanceLeaseRightOfUseAsset $230.00M USD Point-in-time
Lease right-of-use assets, financing FinanceLeaseRightOfUseAsset $211.00M USD Point-in-time
Goodwill Goodwill $2.81B USD Point-in-time
Goodwill Goodwill $1.51B USD Point-in-time
Intangibles, net IndefiniteLivedIntangibleAssetsExcludingGoodwill $852.00M USD Point-in-time
Intangibles, net IndefiniteLivedIntangibleAssetsExcludingGoodwill $534.00M USD Point-in-time
Investment in unconsolidated affiliates EquityMethodInvestments $282.00M USD Point-in-time
Investment in unconsolidated affiliates EquityMethodInvestments $57.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $69.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $67.00M USD Point-in-time
Total assets Assets $13.15B USD Point-in-time
Total assets Assets $10.69B USD Point-in-time
Accounts payable AccountsPayableCurrent $715.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $662.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $888.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $949.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $470.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $427.00M USD Point-in-time
Current portion of lease liabilities LeaseLiabilitiesCurrent $115.00M USD Point-in-time
Current portion of lease liabilities LeaseLiabilitiesCurrent $114.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $42.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $28.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.25B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.16B USD Point-in-time
Lease liabilities LeaseLiabilitiesNonCurrent $646.00M USD Point-in-time
Lease liabilities LeaseLiabilitiesNonCurrent $674.00M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.00B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.99B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $69.00M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $140.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $253.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $256.00M USD Point-in-time
Total liabilities Liabilities $5.30B USD Point-in-time
Total liabilities Liabilities $5.14B 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; 388,222,777 and 385,886,682 shares issued and outstanding at March 31, 2020 and December 31, 2019 CommonStockValue $4.00M USD Point-in-time
Common stock - par value $.01; 1 billion shares authorized; 388,222,777 and 385,886,682 shares issued and outstanding at March 31, 2020 and December 31, 2019 CommonStockValue $4.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.52B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.51B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.42B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.66B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $-1.38B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $690.00M USD Point-in-time
Total Company stockholders' equity StockholdersEquity $5.49B USD Point-in-time
Total Company stockholders' equity StockholdersEquity $7.78B USD Point-in-time
Noncontrolling interests MinorityInterest $68.00M USD Point-in-time
Noncontrolling interests MinorityInterest $68.00M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.89B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.84B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $10.69B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $13.15B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.94B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.88B USD 1 Quarter
Cost of revenue CostOfRevenue $1.66B USD 1 Quarter
Cost of revenue CostOfRevenue $1.68B USD 1 Quarter
Gross profit GrossProfit $224.00M USD 1 Quarter
Gross profit GrossProfit $256.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $304.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $283.00M USD 1 Quarter
Goodwill and indefinite-lived intangible asset impairment GoodwillAndIndefiniteLivedIntangibleAssetImpairment $1.38B USD 1 Quarter
Long-lived asset impairment ImpairmentOfLongLivedAssetsHeldForUse $513.00M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.95B USD 1 Quarter
Operating loss OperatingIncomeLoss $-48.00M USD 1 Quarter
Interest and financial costs InterestExpense $25.00M USD 1 Quarter
Interest and financial costs InterestExpense $22.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $6.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $3.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-233.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-3.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-18.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.21B USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-85.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-156.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-10.00M USD 1 Quarter
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-75.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-2.00M USD 1 Quarter
Net loss attributable to Company NetIncomeLoss $-2.05B USD 1 Quarter
Net loss attributable to Company NetIncomeLoss $-77.00M USD 1 Quarter
Basic EarningsPerShareBasic $-0.20 USD 1 Quarter
Basic EarningsPerShareBasic $-5.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $-5.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.20 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 383.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 380.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 380.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 383.00M shares 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-75.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $177.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $105.00M USD 1 Quarter
Provision for inventory losses ProvisionForInventoryLosses $14.00M USD 1 Quarter
Provision for inventory losses ProvisionForInventoryLosses $125.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-9.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-62.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-233.00M USD 1 Quarter
Goodwill and indefinite-lived intangible asset impairment GoodwillAndIndefiniteLivedIntangibleAssetImpairment $1.38B USD 1 Quarter
Long-lived asset impairment ImpairmentOfLongLivedAssetsHeldForUse $513.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-45.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-21.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-326.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $27.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-47.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $152.00M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-26.00M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $5.00M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.00M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-9.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-54.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-49.00M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-234.00M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-142.00M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $43.00M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $-46.00M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-45.00M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-15.00M USD 1 Quarter
Other assets/liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-12.00M USD 1 Quarter
Other assets/liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $105.00M USD 1 Quarter
Net cash provided by (used by) operating activities NetCashProvidedByUsedInOperatingActivities $39.00M USD 1 Quarter
Net cash provided by (used by) operating activities NetCashProvidedByUsedInOperatingActivities $-38.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $68.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $43.00M USD 1 Quarter
Business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $65.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-1.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-15.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-53.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-107.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $19.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $19.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-24.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-20.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-43.00M USD 1 Quarter
Effect of exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.00M USD 1 Quarter
Effect of exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-56.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-157.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.17B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.27B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.11B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.17B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.27B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.11B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Interest InterestPaidNet $5.00M USD 1 Quarter
Interest InterestPaidNet $3.00M USD 1 Quarter
Income taxes IncomeTaxesPaidNet $29.00M USD 1 Quarter
Income taxes IncomeTaxesPaidNet $14.00M USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.89B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.84B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Net income (loss) ProfitLoss $-2.05B USD 1 Quarter
Net income (loss) ProfitLoss $-75.00M USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $24.00M USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $-232.00M USD 1 Quarter
Cash dividends, per common share DividendsCommonStockCash $19.00M USD 1 Quarter
Cash dividends, per common share DividendsCommonStockCash $19.00M USD 1 Quarter
Adoption of new accounting standard NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification $-5.00M USD 1 Quarter
Noncontrolling interest NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $2.00M USD 1 Quarter
Noncontrolling interest NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $3.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $27.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $33.00M USD 1 Quarter
Common stock issued StockIssuedDuringPeriodValueNewIssues $3.00M USD 1 Quarter
Common stock issued StockIssuedDuringPeriodValueNewIssues $1.00M USD 1 Quarter
Withholding taxes WithholdingTaxes $-17.00M USD 1 Quarter
Withholding taxes WithholdingTaxes $-18.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.89B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.84B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-75.00M USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-180.00M USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $20.00M USD 1 Quarter
Changes in derivative financial instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $4.00M USD 1 Quarter
Changes in derivative financial instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-52.00M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-51.00M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-2.28B USD 1 Quarter
Comprehensive income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-2.00M USD 1 Quarter
Comprehensive loss attributable to Company ComprehensiveIncomeNetOfTax $-2.28B USD 1 Quarter
Comprehensive loss attributable to Company ComprehensiveIncomeNetOfTax $-53.00M USD 1 Quarter

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

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