National Oilwell Varco 2003 Annual Report Download - page 40
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39
our Products and Technology segment and four related to our Distribution segment. Aggregate
goodwill relating to these acquisitions was $30 million and approximately half of this amount is
deductible for tax purposes.
3. Inventories
Inventories consist of (in thousands):
December 31, December 31,
2003 2002
Raw materials and supplies 45,354$ 60,699$
Work in process 107,747 109,924
Finished goods and purchased products 393,589 299,465
Total 546,690$ 470,088$
4. Property, Plant and Equipment
Property, plant and equipment consists of (in thousands):
5. Long-Term Debt
Long-term debt consists of (in thousands):
Estimated December 31, December 31,
Useful Lives 2003 2002
Land and improvements 2-20 Years 23,689$ 11,927$
Buildings and improvements 5-31 Years 99,898 74,610
Machinery and equipment 5-12 Years 154,727 111,652
Computer and office equipment 3-10 Years 95,600 92,794
Rental equipment 1-7 Years 75,732 77,328
449,646 368,311
Less accumulated depreciation (197,281) (159,891)
252,36
5
$ 208,420$
December 31, December 31,
2003 2002
Credit facilities 108,890$ 94,637$
6.875% senior notes 150,000 150,000
6.50% senior notes 150,000 150,000
5.65% senior notes 200,000 200,000
608,890 594,637
Less current portion 14,910 -
593,980$ 594,637$