NOV Inc. Files 2024 10-K Report

Ticker: NOV · Form: 10-K · Filed: 2025-02-14T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, annual-report, oil-and-gas

TL;DR

NOV Inc. dropped its 2024 10-K. All systems go for oil & gas equipment.

AI Summary

NOV Inc. filed its 2024 10-K report on February 14, 2025, detailing its fiscal year ending December 31, 2024. The company, formerly known as National Oilwell Varco Inc., is a significant player in the oil and gas machinery and equipment sector. The filing provides comprehensive financial and operational information for the reporting period.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed overview of NOV Inc.'s financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects in the oil and gas industry.

Risk Assessment

Risk Level: medium — The provided text is a standard 10-K filing header and does not contain specific risk factors or financial performance details that would indicate a high or low risk level.

Key Players & Entities

NOV Inc. (company) — Filer of the 10-K report
National Oilwell Varco Inc (company) — Former name of NOV Inc.
20241231 (date) — Fiscal year end date
20250214 (date) — Filing date of the 10-K report
OIL & GAS FILED MACHINERY & EQUIPMENT [3533] (industry) — Standard Industrial Classification for NOV Inc.

FAQ

What is the primary business of NOV Inc. according to its SIC code?

NOV Inc.'s Standard Industrial Classification (SIC) code is [3533], indicating its primary business is in OIL & GAS FILED MACHINERY & EQUIPMENT.

When was the 10-K filing for NOV Inc. submitted to the SEC?

The 10-K filing for NOV Inc. was submitted to the SEC on February 14, 2025.

What is the fiscal year end date for NOV Inc. as reported in this filing?

The fiscal year end date for NOV Inc. is December 31, 2024.

What were NOV Inc.'s former company names?

NOV Inc. was formerly known as National Oilwell Varco Inc. and prior to that, National Oilwell Inc.

Where is NOV Inc. headquartered?

NOV Inc. is headquartered at 10353 Richmond Ave., Houston, TX 77042.

From the Filing

0000950170-25-021042.txt : 20250214 0000950170-25-021042.hdr.sgml : 20250214 20250214150412 ACCESSION NUMBER: 0000950170-25-021042 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 128 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250214 DATE AS OF CHANGE: 20250214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOV Inc. CENTRAL INDEX KEY: 0001021860 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 760475815 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12317 FILM NUMBER: 25627305 BUSINESS ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 346-223-3000 MAIL ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL VARCO INC DATE OF NAME CHANGE: 20050311 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL INC DATE OF NAME CHANGE: 19960829 10-K 1 nov-20241231.htm 10-K 10-K FY false 0001021860 P2M 1 1 1 http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember http://www.nov.com/20241231#LeaseLiabilitiesCurrent http://www.nov.com/20241231#LeaseLiabilitiesCurrent http://www.nov.com/20241231#LeaseLiabilitiesCurrent http://www.nov.com/20241231#LeaseLiabilitiesCurrent http://www.nov.com/20241231#LeaseLiabilitiesNonCurrent http://www.nov.com/20241231#LeaseLiabilitiesNonCurrent http://www.nov.com/20241231#LeaseLiabilitiesNonCurrent http://www.nov.com/20241231#LeaseLiabilitiesNonCurrent http://fasb.org/us-gaap/2024#OtherLiabilities http://fasb.org/us-gaap/2024#OtherLiabilities http://www.nov.com/20241231#CanadianDollarOfferedRateCDORMember http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense http://fasb.org/us-gaap/2024#CostOfRevenue http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense 0001021860 nov:InternationalMember nov:ContinentalMember 2022-01-01 2022-12-31 0001021860 us-gaap:RevolvingCreditFacilityMember 2024-12-31 0001021860 us-gaap:AccumulatedTranslationAdjustmentMember 2023-01-01 2023-12-31 0001021860 nov:NovIncLongTermIncentivePlanMember 2024-12-31 0001021860 2027-01-01 2024-12-31 0001021860 us-gaap:AccumulatedTranslationAdjustmentMember 2021-12-31 0001021860 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2023-01-01 2023-12-31 0001021860 nov:AcquisitionMember nov:OtherFiniteLivedIntangibleAssetsMember 2024-01-01 2024-12-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember nov:LandAndOffshoreMember nov:IntersegmentRevenueMember 2024-01-01 2024-12-31 0001021860 nov:AftermarketMember us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember 2024-01-01 2024-12-31 0001021860 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2022-12-31 0001021860 nov:RangeOneMember 2024-01-01 2024-12-31 0001021860 nov:RestrictedStockAndRestrictedStockUnitsMember 2022-12-31 0001021860 2026-01-01 2024-12-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember nov:ContinentalMember nov:IntersegmentRevenueMember 2023-01-01 2023-12-31 0001021860 nov:RangeOneMember 2024-12-31 0001021860 nov:AcquisitionMember us-gaap:CustomerRelationshipsMember 2024-01-01 2024-12-31 0001021860 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2024-12-31 0001021860 nov:LandAndOffshoreMember nov:IntersegmentRevenueMember 2023-01-01 2023-12-31 0001021860 nov:CumulativeShareholderReturnPerformanceStockAwardsMember 2024-01-01 2024-12-31 0001021860 us-gaap:RevolvingCreditFacilityMember 2024-09-12 2024-09-12 0001021