National Oilwell Varco 2009 Annual Report Download - page 46
Download and view the complete annual report
Please find page 46 of the 2009 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.
.B51?1=5+;
'"#"60"%99'3".6+,-43,*#,(3,-*#,(3";$&?,8"-'(.2D96&88&.-9,-*'.',8*"0'.2D6&88&.-'"#"60"%99#,(3,-*#,(3
";$&?,8"-'(7"%"D96&88&.-,-*'.',8*"0'7,(D6&88&.-+.%'&.-.2'3"#.-(.8&*,'"*#,(30,8,-#"(,%"6,&-',&-"*&-,##.$-'(&-?,%&.$(2.%"&)-
($0(&*&,%&"(,-*9&2($#3,6.$-'(7"%"'%,-(2"%%"*,6.-)#.$-'%&"(.%%"+,'%&,'"*'.'3"9($#3,6.$-'(6,40"($0="#''.,**&'&.-,8',<.08&),'&.-(3"
.6+,-4@(.$'(',-*&-)*"0','"#"60"%9#.-(&('"*.2D6&88&.-.2H"-&.%.'"(*$"9D6&88&.-.2H"-&.%.'"(*$"
9D6&88&.-.2H"-&.%.'"(*$"9D6&88&.-.2H"-&.%.'"(*$"9D6&88&.-.2H"-&.%.'"(*$"9,-*.'3"%
*"0'.2D6&88&.-
3".6+,-43,*D96&88&.-.2,**&'&.-,8.$'(',-*&-)8"''"%(.2#%"*&','"#"60"%99+%&6,%&84&-.%7,49'3,',%""(("-'&,884$-*"%?,%&.$(
0&8,'"%,8#.66&''"*8"''"%.2#%"*&'2,#&8&'&"('3"%8"''"%(.2#%"*&',%"&(($"*,(0&*0.-*(,-*+"%2.%6,-#"0.-*(3""-&.%.'"(#.-',&-%"+.%'&-)
#.?"-,-'(,-*'3"#%"*&'2,#&8&'4#.-',&-(,2&-,-#&,8#.?"-,-'%"),%*&-)6,<&6$6*"0''.#,+&',8&L,'&.->"7"%"&-#.6+8&,-#"7&'3,88#.?"-,-'(,'
"#"60"%9
3"%"7"%"-.0.%%.7&-)(,),&-(''3".6+,-4@($-("#$%"*#%"*&'2,#&8&'49,-*'3"%"7"%"D6&88&.-&-.$'(',-*&-)8"''"%(.2#%"*&'&(($"*$-*"%'3"
2,#&8&'49%"($8'&-)&-D96&88&.-.22$-*(,?,&8,08"$-*"%'3".6+,-4@($-("#$%"*%"?.8?&-)#%"*&'2,#&8&'4,'"#"60"%9
3"2.88.7&-)',08"($66,%&L"(.$%-"'#,(328.7(+%.?&*"*04.+"%,'&-),#'&?&'&"(9-"'#,(3$("*&-&-?"('&-),#'&?&'&"(,-*-"'#,(3+%.?&*"*04/$("*&-1
2&-,-#&-),#'&?&'&"(2.%'3"+"%&.*(+%"("-'"*/&-6&88&.-(1
2+11;4+0'
!""%!"":!""6
"'#,(3+%.?&*"*04.+"%,'&-),#'&?&'&"( D
9
D
9D
9
"'#,(3$("*&-&-?"('&-),#'&?&'&"(
/
1
/91
/1
"'#,(3+%.?&*"*04/$("*&-12&-,-#&-),#'&?&'&"(
/
1
/1
3
"'#,(328.7+%.?&*"*04.+"%,'&-),#'&?&'&"(&-*"#%",("*D6&88&.-'.D96&88&.-#.6+,%"*'.#,(3+%.?&*"*04.+"%,'&-),#'&?&'&"(.2
D96&88&.-&-'3"(,6"+"%&.*.2 "2.%"#3,-)"(&-.+"%,'&-),(("'(,-*8&,0&8&'&"(9-"'.2,#;$&(&'&.-(9#,(37,(+%.?&*"*04.+"%,'&.-(+%&6,%&84
'3%.$)3-"'&-#.6".2D96&88&.-+8$(-.-#,(3#3,%)"(.2D6&88&.-,-**&?&*"-*(2%.6$-#.-(.8&*,'"*,22&8&,'"(.2D6&88&.-8"((D6&88&.-&-
";$&'4&-#.6"2%.6'3".6+,-4@($-#.-(.8&*,'"*,22&8&,'""'#3,-)"(&-.+"%,'&-),(("'(,-*8&,0&8&'&"(9-"'.2,#;$&(&'&.-(9$("*#,(3.2D6&88&.-
*$%&-)9#.6+,%"*'.D6&88&.-$("**$%&-)
"'#,(3$("*&-&-?"('&-),#'&?&'&"(&-7,(D6&88&.-#.6+,%"*'.-"'#,(3$("*&-&-?"('&-).2D96&88&.-2.%'3"(,6"+"%&.*.23"
+%&6,%4%",(.-2.%'3"*"#%",("&-#,(3$("*&-&-?"('&-),#'&?&'&"(&-%"8,'"*'.,*"#%",("&-(&L".20$(&-"((,#;$&(&'&.-(9-"'.2#,(3,#;$&%"*9'.
,++%.<&6,'"84D6&88&.-#.6+,%"*'.D96&88&.-$("*&-73&-#8$*"*'3"+$%#3,(".2'3"0$(&-"((,-*.+"%,'&-),(("'(.2F%,-'!%&*"#.
,8".2";$&'4&-'"%"('+%.?&*"*D6&88&.-.2#,(3&-#.6+,%"*'.0$(&-"((*&?"('&'$%"(.2D6&88&.-%"#"&?"*&-%"8,'"*'.'3"*&(+.(&'&.-.2
#"%',&-F%,-'!%&*"#.'$0$8,%0$(&-"(("(-,**&'&.-9'3".6+,-4$("*D6&88&.-2.%#,+&',8"<+"-*&'$%"(&-9#.6+,%"*'.D6&88&.-&-9
%"#"&?"*D6&88&.-8"((&-*&?&*"-*(2%.6&'($-#.-(.8&*,'"*,22&8&,'"#.6+,%"*'.9,-*&-#8$*"*D6&88&.-.2'3"*&?&*"-*(2%.6$-#.-(.8&*,'"*
,22&8&,'"%"#"&?"*&-&-.+"%,'&-),#'&?&'&"(
2
"'#,(3$("*&-2&-,-#&-),#'&?&'&"(&-7,(D6&88&.-#.6+,%"*'.-"'#,(3$("*&-2&-,-#&-),#'&?&'&"(.2D6&88&.-2.%'3"(,6"+"%&.*.2
3"#,(3$("*&-2&-,-#&-),#'&?&'&"(&-+%&6,%&84%"8,'"*'.D6&88&.-&-#,(3*&?&*"-*(+,&**$%&-)'3"8,('6.-'3.2-,**&'&.-9#,(3$("*&-
2&-,-#&-),#'&?&'&"(&-%"8,'"*'.D6&88&.-#,(3+,46"-'(.-*"0'+%&6,%&84,#;$&%"*&-,#;$&(&'&.-(9.22("'04#,(3+%.#""*(2%.60.%%.7&-)(&-
'3",6.$-'.2D6&88&.-,(7"88,("<"%#&("*('.#5.+'&.-(,-*"<#"((',<0"-"2&'2%.6'3""<"%#&(".2('.#5.+'&.-(&-'3",6.$-'.2D6&88&.-3"
0.%%.7&-)(,-*+,46"-'(.2*"0'&-+%&6,%&84%"8,'"('.'3"2&-,-#&-).2'3"F%,-'!%&*"#.,#;$&(&'&.-.%9'3".6+,-4$("*&'(#,(3.-3,-*'.
2$-*&'(,#;$&(&'&.-(