NOV Inc.

Proforma Selected Financial Data

(In millions)

2019

2020

2021

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2018

2019

2020

2021

3 Months

Revenue:

Wellbore Technologies

$

807

$

850

$

793

$

764

$

691

$

442

$

361

$

373

$

413

$

3,235

$

3,214

$

1,867

$

413

Completion & Production Solutions

581

663

728

799

675

611

601

546

439

2,931

2,771

2,433

439

Rig Technologies

603

671

649

759

557

476

449

437

431

2,575

2,682

1,919

431

Eliminations

(51)

(52)

(44)

(41)

(40)

(33)

(27)

(29)

(34)

(288)

(188)

(129)

(34)

Total

$

1,940

$

2,132

$

2,126

$

2,281

$

1,883

$

1,496

$

1,384

$

1,327

$

1,249

$

8,453

$

8,479

$

6,090

$

1,249

Adjusted EBITDA:

Wellbore Technologies

$

117

$

134

$

133

$

143

$

103

$

42

$

21

$

12

$

34

$

526

$

527

$

178

$

34

Completion & Production Solutions

28

52

82

96

71

68

63

28

(4)

378

258

230

(4)

Rig Technologies

56

74

105

112

56

14

28

19

13

309

347

117

13

Eliminations and corporate costs

(61)

(65)

(58)

(63)

(52)

(40)

(41)

(42)

(43)

(303)

(247)

(175)

(43)

Total

$

140

$

195

$

262

$

288

$

178

$

84

$

71

$

17

$

-

$

910

$

885

$

350

$

-

Adjusted EBITDA %:

Wellbore Technologies

14.5%

15.8%

16.8%

18.7%

14.9%

9.5%

5.8%

3.2%

8.2%

16.3%

16.4%

9.5%

8.2%

Completion & Production Solutions

4.8%

7.8%

11.3%

12.0%

10.5%

11.1%

10.5%

5.1%

-0.9%

12.9%

9.3%

9.5%

-0.9%

Rig Technologies

9.3%

11.0%

16.2%

14.8%

10.1%

2.9%

6.2%

4.3%

3.0%

12.0%

12.9%

6.1%

3.0%

Eliminations and corporate costs

-

-

-

-

-

-

-

-

-

-

-

-

-

NOV consolidated

7.2%

9.1%

12.3%

12.6%

9.5%

5.6%

5.1%

1.3%

0.0%

10.8%

10.4%

5.7%

0.0%

Completion & Production Solutions:

Ending Backlog

$

1,041

$

1,215

$

1,298

$

1,305

$

1,185

$

1,000

$

789

$

696

$

810

$

894

$

1,305

$

696

$

810

Revenue out of backlog

$

316

$

379

$

431

$

499

$

416

$

388

$

394

$

328

$

267

$

1,697

$

1,625

$

1,526

$

267

Order Additions, net

$

470

$

548

$

535

$

502

$

335

$

196

$

169

$

215

$

338

$

1,564

$

2,055

$

915

$

338

Other Additions

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

57

$

-

$

-

$

-

$

57

FX Adjustment

$

(7)

$

5

$

(21)

$

4

$

(39)

$

7

$

14

$

20

$

(14)

$

(39)

$

(19)

$

2

$

(14)

Rig Technologies:

Ending Backlog

$

3,142

$

3,168

$

3,143

$

2,994

$

2,932

$

2,787

$

2,660

$

2,669

$

2,591

$

3,117

$

2,994

$

2,669

$

2,591

Adoption of Revenue Recognition standard

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

110

$

-

$

-

$

-

Revenue out of backlog

$

246

$

284

$

246

$

360

$

208

$

219

$

199

$

181

$

190

$

1,088

$

1,136

$

807

$

190

Order Additions, net

$

271

$

310

$

221

$

211

$

146

$

74

$

57

$

190

$

112

$

2,497

$

1,013

$

467

$

112

Deductions from backlog

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

282

$

-

$

-

$

-

FX Adjustment

$

-

$

-

$

-

$

-

$

-

$

-

$

15

$

-

$

-

$

(8)

$

-

$

15

$

-

2019

2020

2021

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2018

2019

2020

2021

Other items excluded from Adjusted EBITDA:

Wellbore Technologies

$

(2)

$

3,345

$

41

$

410

$

715

$

62

$

26

$

46

$

6

$

21

$

3,794

$

849

$

6

Completion & Production Solutions

11

1,939

79

13

1,054

12

23

43

(2)

-

2,042

1,132

(2)

Rig Technologies

2

474

194

114

238

20

12

132

3

6

784

402

3

Eliminations and corporate costs

-

11

-

-

16

8

1

15

2

(18)

11

40

2

Total

$

11

$

5,769

$

314

$

537

$

2,023

$

102

$

62

$

236

$

9

$

9

$

6,631

$

2,423

$

9

Proforma Selected Financial Data - Tear Sheet

FINAL

4/27/2021 4:30PM

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Disclaimer

National Oilwell Varco Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 22:18:02 UTC.