National Oilwell Varco 2000 Annual Report Download - page 40

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38
13. Business Segments and Geographic Areas
National Oilwell’s operations consist of two segments: Products and Technology and Distribution
Services. The Products and Technology segment designs and manufactures a variety of oilfield
equipment for use in oil and gas drilling, completion and production activities, including drilling
motors and specialized drilling tools for rent and sale. The Distribution Services segment
distributes an extensive line of oilfield supplies and equipment. Intersegment sales and transfers
are accounted for at commercial prices and are eliminated in consolidation. The accounting
policies of the reportable segments are the same as those described in the summary of significant
accounting policies of the Company. The Company evaluates performance of each reportable
segment based upon its operating income, excluding non-recurring items.
No single customer accounted for 10% or more of consolidated revenues during the three years
ended December 31, 2000.