National Oilwell Varco 2009 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 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.

Page out of 163

  • 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
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163


3"#.$-'"%+,%'&"('.2.%7,%*#.-'%,#'(,%"6,=.%2&-,-#&,8&-('&'$'&.-(3"#%"*&'%,'&-)(,-*#.-#"-'%,'&.-.2%&(5.2'3"("2&-,-#&,8&-('&'$'&.-(,%"
6.-&'.%"*.-,#.-'&-$&-)0,(&(-'3""?"-''3,''3"#.$-'"%+,%'&"(2,&8'.6""''3"'"%6(.2,2.%"&)-#$%%"-#4#.-'%,#'9.$%"<+.($%"&(8&6&'"*'.'3"
2.%"&)-#$%%"-#4%,'"*&22"%"-'&,8
>",(("(('3"2$-#'&.-,8#$%%"-#&"(.2.$%.+"%,'&-)$-&'('."-($%"'3,''3",++%.+%&,'"#$%%"-#&"(,%"$'&8&L"*&-,##.%*,-#"7&'3'3")$&*,-#".2.+&#
A.%"&)-$%%"-#4,''"%(B22"#'&?"C,-$,%4997"#3,-)"*'3"2$-#'&.-,8#$%%"-#4.2.$%&)"#3-.8.)4$-&'&-.%7,42%.6'3".%7")&,-
5%.-"'.'3"*.88,%'.6.%",++%.+%&,'"84%"28"#''3"+%&6,%4"#.-.6&#"-?&%.-6"-'&-73&#3'3"4.+"%,'"3&(#3,-)"7,(+%"#&+&','"*04(&)-&2&#,-'
#3,-)"(&-'3""#.-.6&#2,#'(,-*#&%#$6(',-#"(9&-#8$*&-)'3"&-#%",("*.%*"%%,'"2.%8,%)"*%&88&-)+8,'2.%6(,-*#.6+.-"-'('"#3-.8.)49'3"$(".2.$%
.%7,4$-&',(.$%+%"2"%%"*+%.="#'6,-,)"%.2'3"("+%.="#'(9&-#%",(&-)%"?"-$",-*#.('0,("&-*.88,%(9,-*'3"&6+8"6"-','&.-.2,-&-'"%-,'&.-,8
#,(3+..8*"-.6&-,'"*&-*.88,%((,.%7")&,-5%.-"2$-#'&.-,8$-&'9.%7,47,(($0="#''.&-#%",(&-)2.%"&)-#$%%"-#4"<#3,-)"%&(5,(,%"($8'.2
'3"("#3,-)"(&-&'("#.-.6&#"-?&%.-6"-',-*7,(*"+"-*"-'$+.-(&)-&2&#,-'3"*)&-)'%,-(,#'&.-('..22("'&'(-.-2$-#'&.-,8#$%%"-#4+.(&'&.-(
'"#"60"%99.$%.%7,4.+"%,'&.-(3,*2.%"&)-#$%%"-#42.%7,%*#.-'%,#'(7&'3-.'&.-,8,6.$-'(,))%"),'&-)D96&88&.-7&'3,2,&%?,8$".2
D6&88&.-'.6&'&),'"2.%"&)-#$%%"-#4"<#3,-)"%&(5,),&-(''3"*.88,%9.$%%"+.%'&-)#$%%"-#422"#'&?"7&'3'3"#3,-)"&-'3"2$-#'&.-,8#$%%"-#49
'3".6+,-4'"%6&-,'"*'3"("3"*)"(3"%"8,'"*-"'),&-+.(&'&.-.2D6&88&.-,((.#&,'"*7&'3'3"'"%6&-,'"*3"*)"(3,(0""-*"2"%%"*,-*&(0"&-)
%"#.)-&L"*&-'.",%-&-)(&-'3"2$'$%"+"%&.*/(1'3"2.%"#,('"*'%,-(,#'&.-(,22"#'",%-&-)(9.273&#3D6&88&.-%"6,&-('.0"%"#.)-&L"*&-'.2$'$%"",%-&-)(
,'"#"60"%93".6+,-43,(($0(";$"-''.C,-$,%499"-'"%"*&-'.-"73"*)"('.#.?"%'3""<+.($%"(,(,%"($8'.2'3"#3,-)"('.
*.88,%2$-#'&.-,8'"#"60"%99.$%.%7,4.+"%,'&.-(3,**"%&?,'&?"(7&'3D96&88&.-&--.'&.-,8?,8$"7&'3,2,&%?,8$".2D6&88&.-9
&-#8$*"*&-'3"',08",0.?"
+
'"#"60"%9.$%8.-)'"%60.%%.7&-)(#.-(&('"*.2D6&88&.-&-H"-&.%.'"(9D6&88&.-&-H"-&.%.'"(9D6&88&.-&-
H"-&.%.'"(9D6&88&.-&-H"-&.%.'"(,-*D6&88&.-&-H"-&.%.'"(>".##,(&.-,8843,?"0.%%.7&-)($-*"%.$%#%"*&'
2,#&8&'49,-*,+.%'&.-.2'3"("0.%%.7&-)(#.$8*0"*"-.6&-,'"*&-6$8'&+8"#$%%"-#&"(73&#3#.$8*"<+.("$('.6,%5"'%&(57&'3"<#3,-)"%,'"6.?"6"-'(
3"("&-('%$6"-'(#,%%4&-'"%"(',',+%",)%""*$+.-+"%#"-',)"+.&-'(+%",*2%.6 9 .% 9.%,''3"+%&6"&-'"%"('%,'"-*"%.$%
#%"*&'2,#&8&'497"6,49,'.$%.+'&.-92&<'3"&-'"%"('%,'"2.%#"%',&-0.%%.7&-)(0,("*.-,(+%",*.?"% 9 .% 2.%*,4('.
6.-'3(
: &.//.2
'',#3"*3"%"'.,-*,+,%'.2'3&(%"+.%',%"2&-,-#&,8(','"6"-'(,-*($++8"6"-',%4*,',8&('"*&-'"6A<3&0&'(,-*&-,-#&,8','"6"-'#3"*$8"(B
%
&..
.-"

