Analysis of Reportable Segments
National Oilwell Varco Inc. operates in 4 segments: Rig Systems; Rig Aftermarket; Wellbore Technologies; and Completion & Production Solutions.
Segment Profit Margin
National Oilwell Varco Inc., profit margin by reportable segment
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 17.32% | 20.27% | 18.86% | 23.81% | — |
| Rig Aftermarket | 24.06% | 27.37% | 27.08% | 27.78% | — |
| Wellbore Technologies | -43.38% | 16.38% | 17.56% | 18.96% | — |
| Completion & Production Solutions | 4.78% | 14.85% | 14.23% | 17.13% | — |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Rig Systems | Rig Systems segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
| Rig Aftermarket | Rig Aftermarket segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Wellbore Technologies | Wellbore Technologies segment profit margin ratio deteriorated from 2013 to 2014 and from 2014 to 2015. | |
| Completion & Production Solutions | Completion & Production Solutions segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Profit Margin: Rig Systems
National Oilwell Varco Inc.; Rig Systems; segment profit margin calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 1,206) | 1,996) | 1,594) | 1,685) | —) |
| Revenue | 6,964) | 9,848) | 8,450) | 7,077) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 17.32% | 20.27% | 18.86% | 23.81% | — |
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).
1 2015 Calculation
Segment profit margin = 100 × Operating profit (loss) ÷ Revenue
= 100 × 1,206 ÷ 6,964 = 17.32%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Rig Systems | Rig Systems segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Profit Margin: Rig Aftermarket
National Oilwell Varco Inc.; Rig Aftermarket; segment profit margin calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 605) | 882) | 729) | 594) | —) |
| Revenue | 2,515) | 3,222) | 2,692) | 2,138) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 24.06% | 27.37% | 27.08% | 27.78% | — |
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).
1 2015 Calculation
Segment profit margin = 100 × Operating profit (loss) ÷ Revenue
= 100 × 605 ÷ 2,515 = 24.06%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Rig Aftermarket | Rig Aftermarket segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Profit Margin: Wellbore Technologies
National Oilwell Varco Inc.; Wellbore Technologies; segment profit margin calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | (1,613) | 937) | 915) | 983) | —) |
| Revenue | 3,718) | 5,722) | 5,211) | 5,184) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | -43.38% | 16.38% | 17.56% | 18.96% | — |
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).
1 2015 Calculation
Segment profit margin = 100 × Operating profit (loss) ÷ Revenue
= 100 × -1,613 ÷ 3,718 = -43.38%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Wellbore Technologies | Wellbore Technologies segment profit margin ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Segment Profit Margin: Completion & Production Solutions
National Oilwell Varco Inc.; Completion & Production Solutions; segment profit margin calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 161) | 690) | 613) | 684) | —) |
| Revenue | 3,365) | 4,645) | 4,309) | 3,994) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 4.78% | 14.85% | 14.23% | 17.13% | — |
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).
1 2015 Calculation
Segment profit margin = 100 × Operating profit (loss) ÷ Revenue
= 100 × 161 ÷ 3,365 = 4.78%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Completion & Production Solutions | Completion & Production Solutions segment profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Return on Assets (Segment ROA)
National Oilwell Varco Inc., ROA by reportable segment
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 17.81% | 24.79% | 20.83% | 25.67% | — |
| Rig Aftermarket | 24.64% | 31.62% | 29.45% | 30.78% | — |
| Wellbore Technologies | -18.40% | 8.02% | 7.71% | 8.91% | — |
| Completion & Production Solutions | 2.72% | 9.76% | 8.41% | 11.05% | — |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Rig Systems | Rig Systems segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
| Rig Aftermarket | Rig Aftermarket segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Wellbore Technologies | Wellbore Technologies segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Completion & Production Solutions | Completion & Production Solutions segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment ROA: Rig Systems
National Oilwell Varco Inc.; Rig Systems; segment ROA calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 1,206) | 1,996) | 1,594) | 1,685) | —) |
| Total assets | 6,772) | 8,052) | 7,654) | 6,563) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 17.81% | 24.79% | 20.83% | 25.67% | — |
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).
1 2015 Calculation
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × 1,206 ÷ 6,772 = 17.81%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Rig Systems | Rig Systems segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment ROA: Rig Aftermarket
National Oilwell Varco Inc.; Rig Aftermarket; segment ROA calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 605) | 882) | 729) | 594) | —) |
| Total assets | 2,455) | 2,789) | 2,475) | 1,930) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 24.64% | 31.62% | 29.45% | 30.78% | — |
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).
1 2015 Calculation
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × 605 ÷ 2,455 = 24.64%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Rig Aftermarket | Rig Aftermarket segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment ROA: Wellbore Technologies
National Oilwell Varco Inc.; Wellbore Technologies; segment ROA calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | (1,613) | 937) | 915) | 983) | —) |
| Total assets | 8,766) | 11,687) | 11,862) | 11,032) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | -18.40% | 8.02% | 7.71% | 8.91% | — |
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).
1 2015 Calculation
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × -1,613 ÷ 8,766 = -18.40%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Wellbore Technologies | Wellbore Technologies segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment ROA: Completion & Production Solutions
National Oilwell Varco Inc.; Completion & Production Solutions; segment ROA calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit (loss) | 161) | 690) | 613) | 684) | —) |
| Total assets | 5,916) | 7,072) | 7,287) | 6,192) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 2.72% | 9.76% | 8.41% | 11.05% | — |
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).
1 2015 Calculation
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × 161 ÷ 5,916 = 2.72%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Completion & Production Solutions | Completion & Production Solutions segment ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Asset Turnover
National Oilwell Varco Inc., asset turnover by reportable segment
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 1.03 | 1.22 | 1.10 | 1.08 | — |
| Rig Aftermarket | 1.02 | 1.16 | 1.09 | 1.11 | — |
| Wellbore Technologies | 0.42 | 0.49 | 0.44 | 0.47 | — |
| Completion & Production Solutions | 0.57 | 0.66 | 0.59 | 0.65 | — |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Rig Systems | Rig Systems segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
| Rig Aftermarket | Rig Aftermarket segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Wellbore Technologies | Wellbore Technologies segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Completion & Production Solutions | Completion & Production Solutions segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Asset Turnover: Rig Systems
National Oilwell Varco Inc.; Rig Systems; segment asset turnover calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 6,964) | 9,848) | 8,450) | 7,077) | —) |
| Total assets | 6,772) | 8,052) | 7,654) | 6,563) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.03 | 1.22 | 1.10 | 1.08 | — |
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).
1 2015 Calculation
Segment asset turnover = Revenue ÷ Total assets
= 6,964 ÷ 6,772 = 1.03
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Rig Systems | Rig Systems segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Asset Turnover: Rig Aftermarket
National Oilwell Varco Inc.; Rig Aftermarket; segment asset turnover calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 2,515) | 3,222) | 2,692) | 2,138) | —) |
| Total assets | 2,455) | 2,789) | 2,475) | 1,930) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.02 | 1.16 | 1.09 | 1.11 | — |
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).
1 2015 Calculation
Segment asset turnover = Revenue ÷ Total assets
= 2,515 ÷ 2,455 = 1.02
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Rig Aftermarket | Rig Aftermarket segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Asset Turnover: Wellbore Technologies
National Oilwell Varco Inc.; Wellbore Technologies; segment asset turnover calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 3,718) | 5,722) | 5,211) | 5,184) | —) |
| Total assets | 8,766) | 11,687) | 11,862) | 11,032) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.42 | 0.49 | 0.44 | 0.47 | — |
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).
1 2015 Calculation
Segment asset turnover = Revenue ÷ Total assets
= 3,718 ÷ 8,766 = 0.42
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Wellbore Technologies | Wellbore Technologies segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Asset Turnover: Completion & Production Solutions
National Oilwell Varco Inc.; Completion & Production Solutions; segment asset turnover calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 3,365) | 4,645) | 4,309) | 3,994) | —) |
| Total assets | 5,916) | 7,072) | 7,287) | 6,192) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.57 | 0.66 | 0.59 | 0.65 | — |
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).
1 2015 Calculation
Segment asset turnover = Revenue ÷ Total assets
= 3,365 ÷ 5,916 = 0.57
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Completion & Production Solutions | Completion & Production Solutions segment asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Capital Expenditures to Depreciation
National Oilwell Varco Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 0.84 | 1.51 | 0.74 | 1.27 | — |
| Rig Aftermarket | 0.33 | 0.44 | 0.92 | 0.72 | — |
| Wellbore Technologies | 0.45 | 0.60 | 0.54 | 0.63 | — |
| Completion & Production Solutions | 0.39 | 0.82 | 1.01 | 1.17 | — |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Rig Systems | Rig Systems segment capital expenditures to depreciation ratio improved from 2013 to 2014 but then slightly deteriorated from 2014 to 2015 not reaching 2013 level. |
| Rig Aftermarket | Rig Aftermarket segment capital expenditures to depreciation ratio deteriorated from 2013 to 2014 and from 2014 to 2015. | |
| Wellbore Technologies | Wellbore Technologies segment capital expenditures to depreciation ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. | |
| Completion & Production Solutions | Completion & Production Solutions segment capital expenditures to depreciation ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Segment Capital Expenditures to Depreciation: Rig Systems
National Oilwell Varco Inc.; Rig Systems; segment capital expenditures to depreciation calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 81) | 133) | 61) | 81) | —) |
| Depreciation and amortization | 96) | 88) | 82) | 64) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.84 | 1.51 | 0.74 | 1.27 | — |
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).
1 2015 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 81 ÷ 96 = 0.84
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Rig Systems | Rig Systems segment capital expenditures to depreciation ratio improved from 2013 to 2014 but then slightly deteriorated from 2014 to 2015 not reaching 2013 level. |
Segment Capital Expenditures to Depreciation: Rig Aftermarket
National Oilwell Varco Inc.; Rig Aftermarket; segment capital expenditures to depreciation calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 10) | 12) | 24) | 13) | —) |
| Depreciation and amortization | 30) | 27) | 26) | 18) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.33 | 0.44 | 0.92 | 0.72 | — |
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).
1 2015 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 10 ÷ 30 = 0.33
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Rig Aftermarket | Rig Aftermarket segment capital expenditures to depreciation ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Segment Capital Expenditures to Depreciation: Wellbore Technologies
National Oilwell Varco Inc.; Wellbore Technologies; segment capital expenditures to depreciation calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 180) | 262) | 226) | 247) | —) |
| Depreciation and amortization | 400) | 439) | 420) | 389) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.45 | 0.60 | 0.54 | 0.63 | — |
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).
1 2015 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 180 ÷ 400 = 0.45
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Wellbore Technologies | Wellbore Technologies segment capital expenditures to depreciation ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Segment Capital Expenditures to Depreciation: Completion & Production Solutions
National Oilwell Varco Inc.; Completion & Production Solutions; segment capital expenditures to depreciation calculation
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 87) | 184) | 212) | 169) | —) |
| Depreciation and amortization | 221) | 224) | 210) | 145) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.39 | 0.82 | 1.01 | 1.17 | — |
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).
1 2015 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 87 ÷ 221 = 0.39
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Completion & Production Solutions | Completion & Production Solutions segment capital expenditures to depreciation ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Revenue
National Oilwell Varco Inc., revenue by reportable segment
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 6,964) | 9,848) | 8,450) | 7,077) | —) |
| Rig Aftermarket | 2,515) | 3,222) | 2,692) | 2,138) | —) |
| Wellbore Technologies | 3,718) | 5,722) | 5,211) | 5,184) | —) |
| Completion & Production Solutions | 3,365) | 4,645) | 4,309) | 3,994) | —) |
| Eliminations | (1,805) | (1,997) | (1,441) | (1,199) | —) |
| Total | 14,757) | 21,440) | 19,221) | 17,194) | —) |
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).
Operating profit (loss)
National Oilwell Varco Inc., operating profit (loss) by reportable segment
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 1,206) | 1,996) | 1,594) | 1,685) | —) |
| Rig Aftermarket | 605) | 882) | 729) | 594) | —) |
| Wellbore Technologies | (1,613) | 937) | 915) | 983) | —) |
| Completion & Production Solutions | 161) | 690) | 613) | 684) | —) |
| Eliminations | (749) | (892) | (652) | (557) | —) |
| Total | (390) | 3,613) | 3,199) | 3,389) | —) |
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).
Capital expenditures
National Oilwell Varco Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 81) | 133) | 61) | 81) | —) |
| Rig Aftermarket | 10) | 12) | 24) | 13) | —) |
| Wellbore Technologies | 180) | 262) | 226) | 247) | —) |
| Completion & Production Solutions | 87) | 184) | 212) | 169) | —) |
| Eliminations | 95) | 108) | 91) | 59) | —) |
| Total | 453) | 699) | 614) | 569) | —) |
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).
Depreciation and amortization
National Oilwell Varco Inc., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 96) | 88) | 82) | 64) | —) |
| Rig Aftermarket | 30) | 27) | 26) | 18) | —) |
| Wellbore Technologies | 400) | 439) | 420) | 389) | —) |
| Completion & Production Solutions | 221) | 224) | 210) | 145) | —) |
| Total | 747) | 778) | 738) | 616) | —) |
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).
Total assets
National Oilwell Varco Inc., total assets by reportable segment
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
|---|---|---|---|---|---|
| Rig Systems | 6,772) | 8,052) | 7,654) | 6,563) | —) |
| Rig Aftermarket | 2,455) | 2,789) | 2,475) | 1,930) | —) |
| Wellbore Technologies | 8,766) | 11,687) | 11,862) | 11,032) | —) |
| Completion & Production Solutions | 5,916) | 7,072) | 7,287) | 6,192) | —) |
| Eliminations | 2,816) | 3,962) | 3,351) | 3,394) | —) |
| Discontinued operations | —) | —) | 2,183) | 2,373) | —) |
| Total | 26,725) | 33,562) | 34,812) | 31,484) | —) |
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).