Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

National Oilwell Varco Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Cash and cash equivalents	2,080)	3,536)	3,436)	3,319)	3,535)
Receivables, net	2,926)	4,416)	4,896)	4,320)	3,291)
Inventories, net	4,678)	5,281)	5,603)	5,891)	4,030)
Costs in excess of billings	1,250)	1,878)	1,539)	1,225)	593)
Deferred income taxes	376)	447)	373)	349)	336)
Prepaid and other current assets	491)	604)	576)	574)	325)
Current assets	11,801)	16,162)	16,423)	15,678)	12,110)
Property, plant and equipment, net	3,124)	3,362)	3,408)	2,945)	2,445)
Deferred income taxes	488)	503)	372)	413)	267)
Goodwill	6,980)	8,539)	9,049)	7,172)	6,151)
Intangibles, net	3,849)	4,444)	5,055)	4,743)	4,073)
Investment in unconsolidated affiliates	327)	362)	390)	393)	391)
Other assets	156)	190)	115)	140)	78)
Noncurrent assets	14,924)	17,400)	18,389)	15,806)	13,405)
Total assets	26,725)	33,562)	34,812)	31,484)	25,515)

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	National Oilwell Varco Inc. current assets decreased from 2013 to 2014 and from 2014 to 2015.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	National Oilwell Varco Inc. property, plant and equipment, net decreased from 2013 to 2014 and from 2014 to 2015.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	National Oilwell Varco Inc. noncurrent assets decreased from 2013 to 2014 and from 2014 to 2015.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	National Oilwell Varco Inc. total assets decreased from 2013 to 2014 and from 2014 to 2015.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	National Oilwell Varco Inc. cash and cash equivalents increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Receivables, net	The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.	National Oilwell Varco Inc. receivables, net decreased from 2013 to 2014 and from 2014 to 2015.
Inventories, net	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	National Oilwell Varco Inc. inventories, net decreased from 2013 to 2014 and from 2014 to 2015.

National Oilwell Varco Inc. (NYSE:NOV)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items