National Oilwell Varco 2009 Annual Report Download - page 6
Download and view the complete annual report
Please find page 6 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.
)"
$%&('%&0$'&.-"%?&#"((")6"-'+%.?&*"(6,&-'"-,-#"9%"+,&%,-*.+"%,'&-)($++8&"(/AB1,-*(+,%"+,%'('.*%&88(&'",-*+%.*$#'&.-8.#,'&.-(
7.%8*7&*"-,**&'&.-'.&'(#.6+%"3"-(&?"-"'7.%5.22&"8*8.#,'&.-(($++.%'&-)8,-**%&88&-).+"%,'&.-('3%.$)3.$'.%'36"%&#,9'3"(")6"-'($++.%'(
6,=.%.22(3.%"*%&88&-)#.-'%,#'.%('3%.$)38.#,'&.-(&-"<&#.9'3"&**8",('9$%.+"9.$'3",('(&,,-*.$'36"%&#,&('%&0$'&.-"%?&#"("6+8.4(
,*?,-#"*&-2.%6,'&.-'"#3-.8.)&"('.+%.?&*"#.6+8"'"+%.#$%"6"-'9&-?"-'.%46,-,)"6"-',-*8.)&('&#(("%?&#"('.&'(#$('.6"%(,%.$-*'3")8.0"
"6,-*2.%'3"(")6"-'@(("%?&#"(&(*"'"%6&-"*+%&6,%&8404'3"8"?"8.2*%&88&-)9("%?&#&-)9,-*.&8,-*),(+%.*$#'&.-,#'&?&'&"(
3"2.88.7&-)',08"("'(2.%'3'3"#.-'%&0$'&.-'..$%'.',8%"?"-$"(.2.$%'3%"".+"%,'&-)(")6"-'(/&-6&88&.-(1
2+11;4+0'
!""%!"":!""6
"?"-$"
&)"#3-.8.)4 D
9D
9D
9
!"'%.8"$6"%?&#"(I$++8&"( 99
9
&('%&0$'&.-"%?&#"( 99
9
8&6&-,'&.-( /1
/1
/
1
.',8"?"-$" D
9D
9D
9
"".'"'.'3".-(.8&*,'"*&-,-#&,8','"6"-'(&-#8$*"*&-'3&(--$,8"+.%'.-.%62.%2&-,-#&,8&-2.%6,'&.-04(")6"-',-*,)".)%,+3&#,8
0%",5.$'.2%"?"-$"(,-*8.-)8&?"*,(("'(>"3,?"&-#8$*"*,)8.((,%4.2.&82&"8*'"%6(,''3""-*.2'"6A $(&-"((B.2'3&(--$,8"+.%'
5;1;?.4=?@35
3".&8,-*),(&-*$('%4&-73'3".6+,-4+,%'&#&+,'"(3,(3&('.%&#,884"<+"%&"-#"*(&)-&2&#,-'?.8,'&8&'4"6,-*2.%'3".6+,-4@(("%?&#"(,-*
+%.*$#'(*"+"-*(+%&6,%&84$+.-'3")"-"%,88"?"8.2,#'&?&'4&-'3".&8,-*),(&-*$('%47.%8*7&*"9&-#8$*&-)'3"-$60"%.2*%&88&-)%&)(&-.+"%,'&.-9'3"
-$60"%.2.&8,-*),(7"88(0"&-)*%&88"*9'3"*"+'3,-**%&88&-)#.-*&'&.-(.2'3"("7"88(9'3"?.8$6".2+%.*$#'&.-9'3"-$60"%.27"88#.6+8"'&.-(,-*'3"
8"?"8.27"88%"6"*&,'&.-,#'&?&'4&8,-*),(,#'&?&'4&(&-'$%-3",?&84&-28$"-#"*049,6.-).'3"%2,#'.%(9.&8,-*),(+%&#"(7.%8*7&*"&)38"?"8(.2
*%&88&-),-*7"88%"6"*&,'&.-,#'&?&'4)"-"%,884(+$%(*"6,-*2.%'3".6+,-4@(+%.*$#'(,-*("%?&#"($("*'.*%&88,-*%"6"*&,'".&8,-*),(7"88(
**&'&.-,88493&)38"?"8(.2.&8,-*),(,#'&?&'4&-#%",("#,(328.7(,?,&8,08"2.%*%&88&-)#.-'%,#'.%(9.&82&"8*("%?&#"#.6+,-&"(9,-*6,-$2,#'$%"%(.2.&8
#.$-'%4'$0$8,%)..*('.&-?"('&-#,+&',8";$&+6"-''3,''3".6+,-4("88(
")&--&-)&-",%849&-#%",(&-).&8,-*),(+%&#"(8"*'.('",*&84%&(&-)8"?"8(.2*%&88&-),#'&?&'4'3%.$)3.$''3"7.%8*.-#"%-(,0.$''3"8.-)'"%6
,?,&8,0&8&'4.2.&8,-*),(($++84,8(.0"),-'.0$&8*.-(";$"-'849'3"7.%8*7&*"%&)#.$-'&-#%",("*H&-9H&-9,-*H&-(,%"($8'
.23&)3"%#,(328.7(%",8&L"*046,-4*%&88&-)#.-'%,#'.%(,-*.'3"%.&82&"8*("%?&#"#.6+,-&"(9,(7"88,('3"8.-)'"%6#.-#"%-(,0.$'($++84*"6,-*
&60,8,-#",-*'3"-""*'.%"+8,#",)&-)";$&+6"-'96,%5"'#.-*&'&.-(2.%#,+&',8";$&+6"-'+$%#3,("(3,?"&6+%.?"*(&)-&2&#,-'84(&-#",-*9
%"($8'&-)&-3&)3"%0,#58.)(2.%'3".6+,-4,''3""-*.2#.6+,%"*'.'3""-*.2,-*.7"?"%9,(,%"($8'.2'3"2&-,-#&,8#%&(&(,-*
(&)-&2&#,-'848.7"%#.66.*&'4+%&#"(9'3"7.%8*7&*"*%&88&-)%&)#.$-'*"#8&-"*H&-,-*#$('.6"%(7"%"2,%8"((7&88&-)'.#.66&''.6,=.%#,+&',8
";$&+6"-'+$%#3,("(&-(,%"($8'9.$%.%*"%%,'"(7"%"($0(',-'&,8848.7"%&- ,#58.)2.%'3".6+,-47,(,++%.<&6,'"84D0&88&.-,'
"#"60"%9#.6+,%"*'.,++%.<&6,'"84D0&88&.-,-*D0&88&.-2.%"#"60"%9,-*9%"(+"#'&?"84
-,-*96.('.2'3".6+,-4@(&)"#3-.8.)4%"?"-$"%"($8'"*2%.66,=.%#,+&',8"<+"-*&'$%"(.2*%&88&-)#.-'%,#'.%(97"88("%?&#&-)
#.6+,-&"(9,-*.&8#.6+,-&"(.-%&)#.-('%$#'&.-,-*%"2$%0&(36"-'9,-*7"88("%?&#&-)";$&+6"-'3"("#,+&',8"<+"-*&'$%"(,%"&-28$"-#"*04'3",6.$-'
.2#,(328.7'3,'#.-'%,#'.%(,-*("%?&#"#.6+,-&"()"-"%,'"2%.6*%&88&-)9#.6+8"'&.-9,-*%"6"*&,'&.-,#'&?&'4K,(7"88,(04'3",?,&8,0&8&'4.22&-,-#&-)9
'3".$'8..52.%2$'$%"*%&88&-),-*7"88("%?&#&-),#'&?&'49,-*.'3"%2,#'.%(F"-"%,8849'3".6+,-40"8&"?"('3"*"6,-*2.%#,+&',8";$&+6"-'8,)(&-#%",("(
&-'3"8"?"8.2*%&88&-),#'&?&'4.('.2'3"%"6,&-*"%.2'3"&)"#3-.8.)4(")6"-'@(%"?"-$",%"%"8,'"*'.'3"(,8".2(+,%"+,%'(,-*#.-($6,08"(9'3"
+%.?&(&.-.2";$&+6"-'%"+,&%("%?&#"(9,-*'3"%"-',8.2";$&+6"-'973'3".6+,-40"8&"?"(,%")"-"%,884*"'"%6&-"**&%"#'8404'3"8"?"8.2*%&88&-)
,-*7"88("%?&#&-),#'&?&'4
3"6,=.%&'4.2'3".6+,-4@(!"'%.8"$6"%?&#"(I$++8&"(%"?"-$"&(#8.("84'&"*'.*%&88&-),#'&?&'49,8'3.$)3,+.%'&.-&(%"8,'"*'.'3"(,8".2#,+&',8
";$&+6"-''.*%&88&-)#.-'%,#'.%(973$,4(.6"73,'8,)'3"8"?"8.2*%&88&-),#'&?&'4!.%'&.-(.2'3"(")6"-'@(%"?"-$"'3,',%"-.''&"*'.*%&88&-),#'&?&'4
&-#8$*"/&1'3"(,8".2+%.)%"((&?"#,?&'4+$6+(,-*(.8&*(#.-'%.8";$&+6"-'2.%$("&-&-*$('%&,8,++8&#,'&.-(9,-*/&&1'3"(,8".22&0"%)8,((,-*#.6+.(&'"
'$0&-)'.&-*$('%&,8#$('.6"%(973&()"-"%,884$-%"8,'"*'.*%&88&-).%7"88%"6"*&,'&.-,#'&?&'40$'6,40"'&"*(.6"73,''..&8,-*),(+%&#"(