National Oilwell Varco 2000 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2000 National Oilwell Varco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 44

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44

20
NATIONAL-OILWELL, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31, December 31,
2000 1999
ASSETS
Current assets:
Cash and cash equivalents 42,459$ 48,091$
Marketable securities, at fair value (cost of $13,437 at December 31, 1999) - 14,686
Receivables, less allowance of $5,885 and $7,246 295,163 200,396
Inventories 375,734 348,024
Deferred income taxes 17,105 10,684
Income taxes receivable - 12,888
Prepaid and other current assets 12,642 7,776
Total current assets 743,103 642,545
Property, plant and equipment, net 173,646 154,844
Deferred income taxes 19,919 18,037
Goodwill, net 329,340 177,377
Property held for sale 8,271 7,424
Other assets 4,615 5,488
1,278,894$ 1,005,715$
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable 165,801 106,219
Customer prepayments 19,371 18,776
Accrued compensation 10,996 4,232
Other accrued liabilities 66,614 61,303
Total current liabilities 262,782 190,530
Long-term debt 222,477 196,053
Deferred income taxes 16,030 12,449
Other liabilities 10,399 10,308
Total liabilities 511,688 409,340
Commitments and contin
g
encies
Stockholders' equity:
Common stock - par value $.01; 80,508,535 and 71,736,609 shares
issued and outstanding at December 31, 2000 and December 31, 1999 805 717
Additional paid-in capital 583,225 415,701
Accumulated other comprehensive income (21,858) (11,923)
Retained earnings 205,034 191,880
767,206 596,375
1,278,894$ 1,005,715$
The accompanying notes are an integral part of these statements.