Stock Analysis on Net
Stock Analysis on Net

National Oilwell Varco Inc. (NYSE:NOV)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 3, 2016.

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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National Oilwell Varco Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011 Sep 30, 2011 Jun 30, 2011 Mar 31, 2011
Accounts payable
Accrued liabilities
Billings in excess of costs
Current portion of long-term debt and short-term borrowings
Accrued income taxes
Deferred income taxes
Current liabilities
Long-term debt, excluding current portion
Deferred income taxes
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, par value $.01
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Total Company stockholders’ equity
Noncontrolling interests
Total stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

An examination of the liabilities and stockholders’ equity reveals several noteworthy trends between March 2011 and June 2016. Overall, total liabilities increased significantly over the period, particularly between 2011 and 2013, before stabilizing and then decreasing in the later years. Stockholders’ equity also generally increased, though at a slower pace than liabilities, and experienced a decline towards the end of the observed timeframe.

Current Liabilities
Current liabilities demonstrated a consistent upward trend from $4,132 million in March 2011 to a peak of $7,201 million in September 2014. Subsequently, a decline was observed, falling to $2,947 million by June 2016. Accounts payable contributed substantially to this trend, increasing from $656 million to $1,391 million by March 2014, then decreasing to $434 million by June 2016. Accrued liabilities also increased significantly, peaking at $3,310 million in September 2014 before decreasing to $1,774 million by June 2016. Billings in excess of costs generally increased until September 2013, then fluctuated before decreasing in the final periods. The current portion of long-term debt and short-term borrowings was relatively small, with notable spikes in December 2011 and June 2012, and again in September 2014, but was generally low in other periods.
Noncurrent Liabilities
Noncurrent liabilities exhibited a more pronounced increase than current liabilities, rising from $2,623 million in March 2011 to $5,479 million in December 2012. This increase was largely driven by long-term debt, excluding the current portion, which increased from $512 million to $3,148 million over the same period. While noncurrent liabilities decreased slightly after December 2012, they remained elevated before declining to $4,651 million by June 2016. Deferred income taxes also contributed to noncurrent liabilities, showing a general increase until December 2013, then fluctuating and decreasing in later periods.
Stockholders’ Equity
Total stockholders’ equity increased steadily from $16,401 million in March 2011 to $22,792 million in December 2014. However, a downward trend emerged in 2015 and 2016, with equity falling to $16,186 million by June 2016. This decline was primarily attributable to a decrease in retained earnings, which peaked at $13,323 million in December 2013 and then decreased to $9,399 million by June 2016. Additional paid-in capital remained relatively stable for much of the period, but decreased significantly in 2015 and 2016. Accumulated other comprehensive income (loss) fluctuated, showing a negative balance in the later periods. Common stock remained constant throughout the period.

In summary, the company experienced a period of increasing liabilities and stockholders’ equity, followed by a stabilization and then a decline in equity in the latter part of the observed timeframe. The shifts in accounts payable, accrued liabilities, and retained earnings were particularly influential in these trends. The increase in long-term debt contributed significantly to the growth in noncurrent liabilities.