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10-Q Filing

NOV INC. CIK: 1021860 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-021238
Period End Date 20210331
Filing Date 20210428
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance nov-10q_20210331_htm.xml
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
Common stock, shares issued CommonStockSharesIssued 390.65M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.61B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.69B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 388.26M shares Point-in-time
Receivables, net ReceivablesNetCurrent $1.26B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 390.65M shares Point-in-time
Receivables, net ReceivablesNetCurrent $1.27B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 388.26M shares Point-in-time
Inventories, net InventoryNet $1.36B USD Point-in-time
Inventories, net InventoryNet $1.41B USD Point-in-time
Contract assets, net ContractWithCustomerAssetNetCurrent $611.00M USD Point-in-time
Contract assets, net ContractWithCustomerAssetNetCurrent $577.00M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $190.00M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $224.00M USD Point-in-time
Total current assets AssetsCurrent $5.21B USD Point-in-time
Total current assets AssetsCurrent $5.00B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.89B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.93B USD Point-in-time
Lease right-of-use assets, operating OperatingLeaseRightOfUseAsset $356.00M USD Point-in-time
Lease right-of-use assets, operating OperatingLeaseRightOfUseAsset $371.00M USD Point-in-time
Lease right-of-use assets, financing FinanceLeaseRightOfUseAsset $195.00M USD Point-in-time
Lease right-of-use assets, financing FinanceLeaseRightOfUseAsset $187.00M USD Point-in-time
Goodwill Goodwill $1.49B USD Point-in-time
Goodwill Goodwill $1.50B USD Point-in-time
Intangibles, net IndefiniteLivedIntangibleAssetsExcludingGoodwill $516.00M USD Point-in-time
Intangibles, net IndefiniteLivedIntangibleAssetsExcludingGoodwill $527.00M USD Point-in-time
Investment in unconsolidated affiliates EquityMethodInvestments $51.00M USD Point-in-time
Investment in unconsolidated affiliates EquityMethodInvestments $47.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $156.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $181.00M USD Point-in-time
Total assets Assets $9.67B USD Point-in-time
Total assets Assets $9.93B USD Point-in-time
Accounts payable AccountsPayableCurrent $467.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $489.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $792.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $863.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $349.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $354.00M USD Point-in-time
Current portion of lease liabilities LeaseLiabilitiesCurrent $110.00M USD Point-in-time
Current portion of lease liabilities LeaseLiabilitiesCurrent $106.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $182.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $51.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $38.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.87B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.93B USD Point-in-time
Lease liabilities LeaseLiabilitiesNonCurrent $612.00M USD Point-in-time
Lease liabilities LeaseLiabilitiesNonCurrent $590.00M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.67B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.83B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $77.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $78.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $252.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $259.00M USD Point-in-time
Total liabilities Liabilities $4.52B USD Point-in-time
Total liabilities Liabilities $4.65B 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; 390,653,325 and 388,255,374 shares issued and outstanding at March 31, 2021 and December 31, 2020 CommonStockValue $4.00M USD Point-in-time
Common stock - par value $.01; 1 billion shares authorized; 390,653,325 and 388,255,374 shares issued and outstanding at March 31, 2021 and December 31, 2020 CommonStockValue $4.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.60B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.59B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.51B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.53B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $-1.99B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $-1.88B USD Point-in-time
Total Company stockholders' equity StockholdersEquity $5.08B USD Point-in-time
Total Company stockholders' equity StockholdersEquity $5.21B USD Point-in-time
Noncontrolling interests MinorityInterest $69.00M USD Point-in-time
Noncontrolling interests MinorityInterest $69.00M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.15B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.28B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $9.93B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $9.67B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.88B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.25B USD 1 Quarter
Cost of revenue CostOfRevenue $1.66B USD 1 Quarter
Cost of revenue CostOfRevenue $1.09B USD 1 Quarter
Gross profit GrossProfit $156.00M USD 1 Quarter
Gross profit GrossProfit $224.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $283.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $244.00M 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 $-88.00M USD 1 Quarter
Interest and financial costs InterestExpense $20.00M USD 1 Quarter
Interest and financial costs InterestExpense $22.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $3.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $2.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-233.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-4.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-3.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-10.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-120.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.21B USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-6.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-156.00M USD 1 Quarter
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-114.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-2.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net loss attributable to Company NetIncomeLoss $-115.00M USD 1 Quarter
Net loss attributable to Company NetIncomeLoss $-2.05B USD 1 Quarter
Basic EarningsPerShareBasic $-0.30 USD 1 Quarter
Basic EarningsPerShareBasic $-5.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $-5.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.30 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 383.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 385.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 383.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 385.00M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-114.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $79.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $105.00M USD 1 Quarter
Provision for inventory losses ProvisionForInventoryLosses $125.00M USD 1 Quarter
Provision for inventory losses ProvisionForInventoryLosses $24.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-62.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-233.00M USD 1 Quarter
Equity loss in unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-4.00M 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 $-25.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $5.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $27.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-47.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-28.00M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $5.00M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-35.00M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-9.00M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-33.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-22.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-54.00M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-62.00M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-142.00M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $-5.00M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $43.00M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-15.00M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-13.00M USD 1 Quarter
Other assets/liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $105.00M USD 1 Quarter
Other assets/liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $33.00M USD 1 Quarter
Net cash provided by (used by) operating activities NetCashProvidedByUsedInOperatingActivities $-27.00M USD 1 Quarter
Net cash provided by (used by) operating activities NetCashProvidedByUsedInOperatingActivities $39.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $49.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $68.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $2.00M 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 $-51.00M USD 1 Quarter
Borrowings against lines of credit and other debt ProceedsFromIssuanceOfLongTermDebt $17.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $19.00M USD 1 Quarter
Financing leases FinanceLeasePrincipalPayments $8.00M USD 1 Quarter
Financing leases FinanceLeasePrincipalPayments $7.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-13.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-16.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-43.00M USD 1 Quarter
Effect of exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.00M USD 1 Quarter
Effect of exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-4.00M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-85.00M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-56.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.69B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.17B 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 $1.61B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.69B 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 $1.11B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.61B USD Point-in-time
Interest InterestPaidNet $3.00M USD 1 Quarter
Interest InterestPaidNet $3.00M USD 1 Quarter
Income taxes IncomeTaxesPaidNet $9.00M USD 1 Quarter
Income taxes IncomeTaxesPaidNet $14.00M USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.15B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.28B USD Point-in-time
Net loss ProfitLoss $-2.05B USD 1 Quarter
Net loss ProfitLoss $-114.00M USD 1 Quarter
Other comprehensive loss, net OtherComprehensiveIncomeLossNetOfTax $-232.00M USD 1 Quarter
Other comprehensive loss, net OtherComprehensiveIncomeLossNetOfTax $-21.00M USD 1 Quarter
Cash dividends, per common share DividendsCommonStockCash - USD 1 Quarter
Cash dividends, per common share DividendsCommonStockCash $19.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $27.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $20.00M USD 1 Quarter
Common stock issued StockIssuedDuringPeriodValueNewIssues $1.00M USD 1 Quarter
Withholding taxes WithholdingTaxes $-13.00M USD 1 Quarter
Withholding taxes WithholdingTaxes $-17.00M USD 1 Quarter
Other NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable $2.00M USD 1 Quarter
Other NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable $-1.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.15B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.85B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.55B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.28B 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 $-114.00M USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-19.00M USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-180.00M USD 1 Quarter
Changes in derivative financial instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-52.00M USD 1 Quarter
Changes in derivative financial instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.00M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-2.28B USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-135.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.00M 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 $-136.00M USD 1 Quarter

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

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