National Oilwell Varco 2005 Annual Report Download - page 11

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,%4-,43)4<1(3.2-,43(?*,1<(3-.-26,>,K(.-9(6,-43-9(64--4<48-9(94>(,3)+(2.,3/0+,>>,3/(88()-,C(3(..488>42-,3/
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200,-,43-4-9(+2==4+;.0,.)*..(0264C(92.,3-+40*)(023)-,C((2C(4<1(3.2-,435DE7:.-(<-92-/4(.6(:430-9()2126,>,-,(.48
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8(2-*+(.<23:48-9(0(.,/3(>(<(3-.48-9(6*-,.-2+/(-(02--9(>230<2+;(-
9()43C(3-,432> )43-+4>.:.-(<,.9:0+2*>,)2>>:2)-,C2-(0230,.*.(0-441(+2-( .2302..4),2-(0C2>C(.+(<4-(>:84+64-9>230.:.-(<.230
488.94+(.:.-(<.,-9-9(+()(3-,3)+(2.(,30((1=2-(+0+,>>,3/0(1-9.-+20,-,432>9:0+2*>,))43-+4>.:.-(<.2+(,320(?*2-(-42)-,C2-( .=9,)9+(.-43
-9(4)(238>44+230<2:6(8((-4+<4+(6(>4=-9(.*+82)(3&&',3-+40*)(0-9(-9*6.(2#(3(+2-,4323(>()-+43,))43-+4>.:.-(<
0(.,/3(0.1(),8,)2>>:84+0((1=2-(+211>,)2-,43.3-9(4<123:6(/23)4<<(+),2>,K,3/-()934>4/:+(>2-(0-42)43-,3*4*.),+)*>2-,430(C,)(9,.
0(C,)((326>(.0+,>>,3/)43-+2)-4+.-4<2;(2306+(2;0+,>>1,1()433()-,43.=,-94*-.-411,3/-9(),+)*>2-,43480+,>>,3/8>*,0.9,.,3-*+3,3)+(2.(.0+,>>,3/
(88,),(3):
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)2.,3/2301+40*)-,43-*6*>2+.,3)>*0,3/.1,33,3/=+(3)9(.<23*2>-43/.-4+?*(=+(3)9(.230;(>>:.1,33(+.
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=9,>(,3-9(94>(1+(C(3--44>.-+,3/.8+4<6(,3/0+411(004=3-9(=(>>2)),0(3-2>>:230(3.*+(-92--9()2.,3/,.)(3-(+(0,3-9(94>(
)/"+,>>,3/2)-,C,-,(.2+()2++,(04*-8+4<20+,>>,3/+,/0+,>>,3/+,/)43.,.-.4843(4+-=40(++,);.J-9(.*6.-+*)-*+(-92-.*114+-.
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.(+C,)(.0(++,);.*.(0,364-943.94+(230488.94+(211>,)2-,43.230.*6.-+*)-*+(.*.(0,343.94+(211>,)2-,43.9(,/()934>4/:/+4*12>.4=4+;.=,-9
.9,1:2+0.,3-9(826+,)2-,4348.*6.-+*)-*+(.84+488.94+(0+,>>,3/+,/.
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-94*.2308((-,3>(3/-9230,.+*3,32304*-48-9(=(>>64+(2-29,/9+2-(48.1((06:29:0+2*>,)2>>:41(+2-(0)4,>(0-*6,3/*3,-)4,>(0-*6,3/*3,-,.
-:1,)2>>:<4*3-(0432-+*);4+.;,05.-((>8+2<(.43=9,)914+-26>((?*,1<(3-,.<4*3-(0-482),>,-2-(9230>,3/=,-9)+23(.4+8>2-6(0-+*);.7230)43.,.-.
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