National Oilwell Varco 2010 Annual Report Download - page 91

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The following summary presents information regarding outstanding restricted shares as of December 31, 2010, 2009 and 2008 and changes
during 2010 and 2009:
Weighted-Average
Grant Date
Restricted Shares Units Fair Value
Nonvested at December 31, 2007 1,061,002 $ 36.56
Granted 755,535 $ 64.33
Vested (307,905) $ 68.12
Forfeited (48,136) $ 42.32
Nonvested at December 31, 2008 1,460,496 $ 47.34
Granted 762,692 $ 26.02
Vested (7,322) $ 36.05
Forfeited (34,622) $ 41.52
Nonvested at December 31, 2009 2,181,244 $ 40.51
Granted 558,531 $ 43.99
Vested (921,454) $ 43.28
Forfeited (52,484) $ 35.11
Nonvested at December 31, 2010 1,765,837 $ 42.15
The weighted-average grant day fair value of RSAs granted during the years ended 2010, 2009 and 2008 was $43.99, $26.02 and $64.16
(excluding RSAs assumed in the Grant Prideco merger) per share, respectively. There were 921,454; 7,322 and 307,905 RSAs that vested
during 2010, 2009 and 2008, respectively. As of December 31, 2010, there was $22 million of unrecognized compensation cost related to
nonvested RSAs, which is expected to be recognized over a weighted-average period of two years.
14. Income Taxes
The domestic and foreign components of income before income taxes were as follows (in millions):
Years Ended December 31,
2010 2009 2008
Domestic $ 727 $ 761 $ 1,577
Foreign 1,670 1,447 1,384
$ 2,397 $ 2,208 $ 2,961
The components of the provision for income taxes consisted of (in millions):
Years Ended December 31,
2010 2009 2008
Current:
Federal $ 421 $ 526 $ 691
State 34 35 55
Foreign 448 348 280
Total current income tax provision 903 909 1,026
Deferred:
Federal (260) (249) (93)
State (8) (5) (2)
Foreign 103 80 62
Total deferred income tax provision (165) (174) (33)
Total income tax provision $ 738 $ 735 $ 993
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