National Oilwell Varco 2005 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2005 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.

Page out of 89

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89


2041-,43(3)4*+2/(0(2+()*++(3->:(C2>*2-,3/-9(,<12)--9,.,3-(+1+(-2-,43<2:92C(434*+8,323),2>14.,-,43+(.*>-.4841(+2-,43.4+)2.98>4=.
32:-9(,..*(0-2-(<(3-48,323),2>))4*3-,3/-2302+0.4$D))4*3-,3/923/(.230++4+4++()-,43.E5D$E7=9,)9
+(1>2)(. 1,3,434D))4*3-,3/923/(.E2304D(14+-,3/))4*3-,3/923/(.,33-(+,<,323),2>-2-(<(3-.E$
+(?*,+(.2C4>*3-2+:)923/(,32))4*3-,3/1+,3),1>(-46(211>,(0+(-+4.1()-,C(>:-42>>1+,4+1(+,408,323),2>.-2-(<(3-..4-92--94.(8,323),2>.-2-(<(3-.2+(
1+(.(3-(02.,8-9()*++(3-2))4*3-,3/1+,3),1>(9202>=2:.6((3211>,(0$,.(88()-,C(84+2))4*3-,3/)923/(.230)4++()-,4348(++4+.<20(28-(+
F23*2+:%=,-9(2+>:2041-,431(+<,--(0(0434-(@1()--9(2041-,4348$-492C(2<2-(+,2>,<12)-434*+8,323),2>14.,-,43+(.*>-.48
41(+2-,43.4+)2.98>4=.
9(,323),2>))4*3-,3/-2302+0.42+05DE7,..*(0-2-(<(3-48,323),2>))4*3-,3/-2302+0.4D92+(2.(0 2:<(3-E57
=9,)94+,/,32>>:+(?*,+(0,<1>(<(3-2-,4384+,3-(+,<4+233*2>+(14+-,3/1(+,40.6(/,33,3/28-(+F*3(4=(C(+,31+,>-9(2041-(02
3(=+*>(-42<(30-9()4<1>,23)(02-(-4-9(6(/,33,3/48-9(4<123:B.3(@-8,.)2>:(2+F23*2+:%+(?*,+(.*.-4+()4/3,K(-9()4.-48
(<1>4:((.(+C,)(.+()(,C(0,3(@)923/(84+-9()4<123:B.(?*,-:,3.-+*<(3-.*++(3->:,32))4+023)(=,-9 1,3,43=(+()4+0-9(,3-+,3.,)C2>*(
48.-4);62.(0)4<1(3.2-,432.(@1(3.())4+0,3/>:34)4<1(3.2-,43(@1(3.(,.)*++(3->:+()4/3,K(084+8,@(0.-4);41-,431>23.(@)(1-2.0(.)+,6(0,3
4-(.230+(>2-(0-4-9(2+)4(+/(+2.-9((@(+),.(1+,)((?*2>.-9(.-4);1+,)(43-9(02-(48/+23-30(+=(=,>>6(+(?*,+(0-4
<(2.*+()4<1(3.2-,43(@1(3.(4C(+-9(41-,43.BC(.-,3/1(+,4062.(043-9(.-4);41-,43.B82,+C2>*(2--9(02-(-9(41-,43.2+(/+23-(0230)>2..,8:-9(-2@
6(3(8,-8+4<-9((@(+),.(48343?*2>,8,(0.-4);41-,43.2.28,323),3/2)-,C,-:,3-9(.-2-(<(3-48)2.98>4=2>>4=.84+-9(*.(48-9(>2);
)94>(.4+2>2--,)(41-,431+,),3/<40(>-4C2>*(.*)941-,43.(=,>>*.(-9(>2);)94>(.41-,431+,),3/<40(>-4)2>)*>2-(-9(82,+C2>*(48-9(41-,43.
(92C((>()-(0-42041-432<40,8,(01+4.1()-,C(62.,.4-(,>>*.-+2-(.-9((88()-.433(-,3)4<(230(2+3,3/.1(+.92+(,8=(9202041-(0
*.,3/-9(>2);)94>(.41-,431+,),3/<40(>
&+8+1J.,4
4<(48-9(,384+<2-,43,3-9,.04)*<(3-)43-2,3.4+92.,3)4+14+2-(06:+(8(+(3)(84+=2+0>44;,3/.-2-(<(3-.-2-(<(3-.-92-2+(34-9,.-4+,)2>82)-.
,3)>*0,3/.-2-(<(3-.264*-4*+6(>,(8.230(@1()-2-,43.2+(84+=2+0>44;,3/.-2-(<(3-.4+=2+0>44;,3/.-2-(<(3-.-:1,)2>>:2+(,0(3-,8,(06:*.(48-(+<.
.*)92.D<2:ED=,>>ED(@1()-ED23-,),12-(ED(.-,<2-(E230.,<,>2+=4+0.2>-94*/9.4<(84+=2+0>44;,3/.-2-(<(3-.2+((@1+(..(00,88(+(3->:!4*
.94*>06(2=2+(-92-4*+2)-*2>+(.*>-.)4*>00,88(+<2-(+,2>>:8+4<+(.*>-.23-,),12-(0,3-9(84+=2+0>44;,3/.-2-(<(3-.0*(-423*<6(+4882)-4+.,3)>*0,3/
6*-34->,<,-(0-4)923/(.,34,>230/2.1+,)(.)*.-4<(+0(<23084+4*+1+40*)-.230=4+>0=,0(()434<,)2)-,C,-:!4*.94*>02>.4)43.,0(+)2+(8*>>:-9(
.-2-(<(3-.*30(+D,.;2)-4+.E=9,)9200+(..200,-,432>82)-4+.-92-)4*>0)2*.(4*+2)-*2>+(.*>-.-40,88(+8+4<-94.(.(-84+-9,3-9(84+=2+0>44;,3/
.-2-(<(3-.#,C(3-9(.(*3)(+-2,3-,(.)*++(3-4+1+4.1()-,C(,3C(.-4+.2+()2*-,43(034--41>2)(*30*(+(>,23)(4323:.*)984+=2+0>44;,3/.-2-(<(3-.(
*30(+-2;(3446>,/2-,43-4*102-(23:.*)982)-4+.4+84+=2+0>44;,3/.-2-(<(3-.-4+(8>()-8*-*+((C(3-.4+0(C(>41<(3-.
&
