National Oilwell Varco 2011 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2011 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 115

  • 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
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

Index to Financial Statements
NATIONAL OILWELL VARCO, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY
(In millions)
Shares
Outstanding Common
Stock
Additional
Paid in
Capital
Accumulated
Other
Comprehensive
Income
(Loss) Retained
Earnings
Total Company
Stockholders
Equity Noncontrolling
Interests
Total
Stockholders
Equity
Balance at December 31, 2008 417 $ 4 $ 7,989 $ (161) $ 4,796 $ 12,628 $ 96 $ 12,724
Net income 1,469 1,469 4 1,473
Other comprehensive income, net 251 251 251
Cash dividends, $1.10 per common share (460) (460) (460)
Dividends to noncontrolling interests (13) (13)
Noncontrolling interest contribution 28 28
Gain on sale of equity interest, net of tax 148 148 148
Stock-based compensation 68 68 68
Common stock issued 1 8 8 8
Excess tax benefit of options exercised 1 1 1
Balance at December 31, 2009 418 $ 4 $ 8,214 $ 90 $ 5,805 $ 14,113 $ 115 $ 14,228
Net income 1,667 1,667 (8) 1,659
Other comprehensive income, net 1 1 1
Cash dividends, $.41 per common share (172) (172) (172)
Dividends to noncontrolling interests (2) (2)
Noncontrolling interest contribution 9 9
Stock-based compensation 66 66 66
Common stock issued 3 73 73 73
Withholding taxes (10) (10) (10)
Excess tax benefit of options exercised 10 10 10
Balance at December 31, 2010 421 $ 4 $ 8,353 $ 91 $ 7,300 $ 15,748 $ 114 $ 15,862
Net income 1,994 1,994 (9) 1,985
Other comprehensive loss, net (114) (114) (114)
Cash dividends, $.45 per common share (191) (191) (191)
Dividends to noncontrolling interests (17) (17)
Noncontrolling interest contribution 21 21
Stock-based compensation 73 73 73
Common stock issued 3 96 96 96
Withholding taxes (9) (9) (9)
Excess tax benefit of options exercised 22 22 22
Balance at December 31, 2011 424 $ 4 $ 8,535 $ (23) $ 9,103 $ 17,619 $ 109 $ 17,728
The accompanying notes are an integral part of these statements.
68