National Oilwell Varco 2012 Annual Report Download - page 66

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Index to Financial Statements
NATIONAL OILWELL VARCO, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
Years Ended December 31,
2011 2010 2009
Revenue
Sales $ 11,842 $ 9,956 $ 10,812
Services 2,816 2,200 1,900
Total 14,658 12,156 12,712
Cost of revenue
Cost of sales 8,037 6,598 7,297
Cost of services 2,124 1,726 1,631
Total 10,161 8,324 8,928
Gross profit 4,497 3,832 3,784
Selling, general and administrative 1,560 1,385 1,322
Intangible asset impairment 147
Operating profit 2,937 2,447 2,315
Interest and financial costs (40) (50) (53)
Interest income 18 13 9
Equity income in unconsolidated affiliates 46 36 47
Other income (expense), net (39) (49) (110)
Income before income taxes 2,922 2,397 2,208
Provision for income taxes 937 738 735
Net income 1,985 1,659 1,473
Net income (loss) attributable to noncontrolling interests (9) (8) 4
Net income attributable to Company $ 1,994 $ 1,667 $ 1,469
Net income attributable to Company per share:
Basic $ 4.73 $ 3.99 $ 3.53
Diluted $ 4.70 $ 3.98 $ 3.52
Cash dividends per share $ 0.45 $ 0.41 $ 1.10
Weighted average shares outstanding:
Basic 422 417 416
Diluted 424 419 417
The accompanying notes are an integral part of these statements.
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