National Oilwell Varco 2002 Annual Report Download - page 26

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NATIONAL-OILWELL, INC.
CONSOLIDATED BALANCE SHEETS
(
In thousands, exce
p
t share data
)
December 31, December 31,
2002 2001
ASSETS
Current assets:
Cash and cash equivalents 118,338$ 43,220$
Receivables, net 428,116 382,153
Inventories 470,088 455,934
Costs in excess of billings 53,805 -
Deferred income taxes 26,783 16,825
Prepaid and other current assets 17,938 10,434
Total current assets 1,115,068 908,566
Property, plant and equipment, net 208,420 168,951
Deferred income taxes 36,864 16,663
Goodwill, net 581,576 352,094
Property held for sale 7,389 12,144
Other assets 19,345 13,278
1,968,662$ 1,471,696$
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt - 10,213
Accounts payable 168,548 161,277
Customer prepayments 9,533 9,843
Accrued compensation 5,087 23,661
Billings in excess of costs 61,738 -
Other accrued liabilities 101,310 72,315
Total current liabilities 346,216 277,309
Long-term debt 594,637 300,000
Deferred income taxes 54,612 20,380
Other liabilities 30,229 6,467
Total liabilities 1,025,694 604,156
C
omm
i
tments an
d
cont
i
ngenc
i
es
Minority interest 9,604 -
Stockholders' equity:
Common stock - par value $.01; 81,014,713 and 80,902,882 shares
issued and outstanding at December 31, 2002 and December 31, 2001 810 809
Additional paid-in capital 594,849 592,507
Accumulated other comprehensive loss (44,461) (34,873)
Retained earnings 382,166 309,097
933,364 867,540
1,968,662$ 1,471,696$
T
h
e accompany
i
ng notes are an
i
ntegra
l
part o
f
t
h
ese statements.
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