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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/14/24 NOV Inc. 10-K 12/31/23 114:21M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size
1: 10-K Annual Report HTML 4.46M
2: EX-21.1 Subsidiaries List HTML 213K
3: EX-23.1 Consent of Expert or Counsel HTML 39K
8: EX-95 Mine-Safety Disclosure HTML 84K
9: EX-97 Clawback Policy re: Recovery of Erroneously HTML 50K
Awarded Compensation
4: EX-31.1 Certification -- §302 - SOA'02 HTML 36K
5: EX-31.2 Certification -- §302 - SOA'02 HTML 37K
6: EX-32.1 Certification -- §906 - SOA'02 HTML 33K
7: EX-32.2 Certification -- §906 - SOA'02 HTML 33K
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12: R2 Consolidated Balance Sheets HTML 166K
13: R3 Consolidated Balance Sheets (Parenthetical) HTML 41K
14: R4 Consolidated Statements of Income (Loss) HTML 137K
15: R5 Consolidated Statements of Comprehensive Income HTML 66K
(Loss)
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17: R7 Consolidated Statements of Stockholders' Equity HTML 100K
18: R8 Consolidated Statements of Stockholders' Equity HTML 33K
(Parenthetical)
19: R9 Organization and Basis of Presentation HTML 37K
20: R10 Summary of Significant Accounting Policies HTML 121K
21: R11 Derivative Financial Instruments HTML 143K
22: R12 Inventories, net HTML 51K
23: R13 Property, Plant and Equipment, net HTML 59K
24: R14 Goodwill and Intangible Assets HTML 174K
25: R15 Accrued Liabilities HTML 59K
26: R16 Leases HTML 140K
27: R17 Debt HTML 76K
28: R18 Employee Benefit Plans HTML 217K
29: R19 Accumulated Other Comprehensive Loss HTML 201K
30: R20 Commitments and Contingencies HTML 50K
31: R21 Common Stock HTML 294K
32: R22 Revenue HTML 242K
33: R23 Income Taxes HTML 239K
34: R24 Business Segments and Geographic Areas HTML 234K
35: R25 Impairment and Other Items HTML 39K
36: R26 Subsequent Event HTML 35K
37: R27 Schedule II Nov Inc. Valuation and Qualifying HTML 69K
Accounts
38: R28 Summary of Significant Accounting Policies HTML 163K
(Policies)
39: R29 Summary of Significant Accounting Policies HTML 81K
(Tables)
40: R30 Derivative Financial Instruments (Tables) HTML 137K
41: R31 Inventories, net (Tables) HTML 51K
42: R32 Property, Plant and Equipment, net (Tables) HTML 58K
43: R33 Goodwill and Intangible Assets (Tables) HTML 170K
44: R34 Accrued Liabilities (Tables) HTML 58K
45: R35 Leases (Tables) HTML 144K
46: R36 Debt (Tables) HTML 65K
47: R37 Employee Benefit Plans (Tables) HTML 210K
48: R38 Accumulated Other Comprehensive Loss (Tables) HTML 198K
49: R39 Common Stock (Tables) HTML 271K
50: R40 Revenue (Tables) HTML 236K
51: R41 Income Taxes (Tables) HTML 231K
52: R42 Business Segments and Geographic Areas (Tables) HTML 228K
53: R43 Summary of Significant Accounting Policies - HTML 69K
Additional Information (Detail)
54: R44 Summary of Significant Accounting Policies - HTML 41K
Additional Information (Detail 1)
55: R45 Summary of Significant Accounting Policies - HTML 40K
Changes in Carrying Amount of Service and Product
Warranties (Detail)
56: R46 Summary of Significant Accounting Policies - HTML 69K
Computation of Weighted Average Basic and Diluted
Shares Outstanding (Detail)
57: R47 Derivative Financial Instruments - Additional HTML 43K
Information (Detail)
58: R48 Derivative Financial Instruments - Outstanding HTML 42K
Foreign Currency Forward Contracts (Detail)
59: R49 Derivative Financial Instruments - Derivative HTML 54K
Instruments and their Balance Sheet
Classifications (Detail)
60: R50 Inventories, net - Inventories (Detail) HTML 45K
61: R51 Property, Plant and Equipment - Property, Plant HTML 62K
and Equipment (Detail)
62: R52 Goodwill and Intangible Assets - Additional HTML 59K
Information (Detail)
63: R53 Goodwill and Intangible Assets - Goodwill HTML 52K
Identified, by Segment (Detail)
64: R54 Goodwill and Intangible Assets - Goodwill HTML 34K
Identified, by Segment (Parenthetical) (Detail)
65: R55 Goodwill and Intangible Assets - Identified HTML 52K
Intangible Assets, by Segment (Detail)
66: R56 Goodwill and Intangible Assets - Identified HTML 53K
Intangible Assets, by Major Classification
(Detail)
67: R57 Accrued Liabilities - Accrued Liabilities (Detail) HTML 54K
68: R58 Leases - Schedule of Components of Leases (Detail) HTML 53K
69: R59 Leases - Components of Lease Expense (Detail) HTML 45K
70: R60 Leases - Supplemental Information Related to HTML 58K
Leases (Detail)
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Leases with Initial or Remaining Terms of One Year
or More (Detail)
72: R62 Debt - Debt (Detail) HTML 55K
73: R63 Debt - Debt (Parenthetical) (Detail) HTML 51K
74: R64 Debt - Principal Payments of Debt (Detail) HTML 51K
75: R65 Debt - Additional Information (Detail) HTML 92K
76: R66 Employee Benefit Plans - Additional Information HTML 50K
(Detail)
77: R67 Employee Benefit Plans - Change in Benefit HTML 85K
Obligation, Plan Assets and Funded Status of
Defined Benefit Pension Plans (Detail)
78: R68 Employee Benefit Plans - Assumption Rates Used for HTML 44K
Benefit Obligations (Detail)
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Net Periodic Benefit Costs (Detail)
80: R70 Employee Benefit Plans - Plan's Assets Carried at HTML 51K
Fair Value (Detail)
81: R71 Accumulated Other Comprehensive Loss - Components HTML 69K
of Accumulated Other Comprehensive Income (Loss)
(Detail)
82: R72 Accumulated Other Comprehensive Loss - Components HTML 74K
of Amounts Reclassified from Accumulated Other
Comprehensive Income (Loss) (Detail)
83: R73 Accumulated Other Comprehensive Loss - Additional HTML 40K
Information (Detail)
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85: R75 Common Stock - Summary of Stock Options (Detail) HTML 58K
86: R76 Common Stock - Summary of Stock Option Outstanding HTML 63K
Information (Detail)
87: R77 Common Stock - Assumption Used in Determination of HTML 41K
Fair Value of Share Based Payment Awards (Detail)
88: R78 Common Stock - Summary of Information and Changes HTML 63K
in Stock Options with Regard to Stock Option Plans
(Detail)
89: R79 Common Stock - Summary of Information Regarding HTML 56K
Outstanding SARs (Detail)
90: R80 Common Stock - Summary of Information Regarding HTML 63K
Outstanding Restricted Shares (Detail)
91: R81 Revenue - Summary of Disaggregate Revenue by HTML 86K
Destinations (Detail)
92: R82 Revenue - Summary of Changes in Carrying Amount of HTML 52K
Contract Assets and Contract Liabilities (Detail)
93: R83 Revenue - Summary of Changes Carrying Amount of HTML 41K
Allowance for Credit Losses (Details)
94: R84 Revenue - Additional Information (Detail) HTML 64K
95: R85 Income Taxes - Domestic and Foreign Components of HTML 40K
Income (Loss) Before Income Taxes (Detail)
96: R86 Income Taxes - Components of Provision (Benefit) HTML 60K
for Income Taxes (Detail)
97: R87 Income Taxes - Difference Between Effective Tax HTML 55K
Rate (Detail)
98: R88 Income Taxes - Additional Information (Detail) HTML 93K
99: R89 Income Taxes - Significant Components of Deferred HTML 68K
Tax Assets and Liability (Detail)
100: R90 Income Taxes - Reconciliation of Beginning and HTML 45K
Ending Amount of Unrecognized Tax Benefits
(Detail)
101: R91 Income Taxes - Summary of Net Operating Loss HTML 55K
Carryforwards (Detail)
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Additional Information (Detail)
103: R93 Business Segments and Geographic Areas - Revenues HTML 63K
by Country Based on Sales Destination of Products
or Services (Detail)
104: R94 Business Segments and Geographic Areas - Net HTML 59K
Property, Plant and Equipment by Country Based on
the Location (Detail)
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Information (Detail)
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(Details)
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(Detail)
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| EX-97 |
Exhibit 97
NOV Inc.
Compensation Recovery Policy
1. Introduction
The Board of Directors (the “Board”) of NOV Inc., a corporation organized under the laws of Delaware (the “Company”), has adopted this policy (this “Policy”), which provides for the recovery of erroneously awarded Incentive-based Compensation (as defined below) from current and former executive officers in the event of an Accounting Restatement (as defined below) resulting from the Company’s material noncompliance with any financial reporting requirement under United States federal securities laws. This policy is intended to comply with Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (“Rule 10D-1”), and Section 303A.14 of The New York Stock Exchange Listed Company Manual (the “NYSE Rule”). Definitions of capitalized terms used in this Policy are included in Section 11 below.
2. Administration
The Compensation Committee will have full authority to administer this Policy. The Compensation Committee will, subject to the provisions of this Policy, applicable law and regulation, and the NYSE Rule, make such determinations and interpretations and take such actions in connection with this Policy as it deems necessary, appropriate or advisable. All determinations and interpretations made by the Compensation Committee will be final, binding and conclusive.
3. Recovery
In the event of an Accounting Restatement, the Company shall seek to recover, reasonably promptly, all Erroneously Awarded Compensation from an Executive Officer during the Time Period Covered in accordance with the NYSE Rule and Rule 10D-1. Such determination of the amount of Erroneously Awarded Compensation, in the case of an Accounting Restatement, will be made without regard to any individual knowledge or responsibility related to the Accounting Restatement or the Erroneously Awarded Compensation. Notwithstanding the foregoing, if the Company is required to undertake an Accounting Restatement, the Company shall recover the Erroneously Awarded Compensation unless the recovery is Impracticable (as defined below).
The Company shall seek to recover all Erroneously Awarded Compensation that was awarded or paid in accordance with the definition of “Erroneously Awarded Compensation” set forth below in Section 11. If such Erroneously Awarded Compensation was not awarded or paid on a formulaic basis, the Company shall seek to recover the amount that the Compensation Committee determines in good faith should be recouped.
4. Other Actions
The Compensation Committee may, subject to applicable law, seek recovery in the manner it chooses, including by seeking reimbursement from the Executive Officer of all or part of the compensation awarded or paid, by electing to withhold unpaid compensation, by set-off, or by rescinding or canceling unvested stock.
To the extent that the Executive Officer has already reimbursed the Company for any Erroneously Awarded Compensation received under any duplicative recovery obligations established by the Company or applicable law, it shall be appropriate for any such reimbursed amount to be credited to the amount of Erroneously Awarded Compensation that is subject to recovery under this Policy.
To the extent that an Executive Officer fails to repay all Erroneously Awarded Compensation to the Company when due, the Company shall take all actions reasonable and appropriate to recover such Erroneously Awarded Compensation from the applicable Executive Officer. The applicable Executive Officer shall be required to reimburse the Company for any and all expenses reasonably incurred (including legal fees) by the Company in recovering such Erroneously Awarded Compensation in accordance with the immediately preceding sentence.
In the reasonable exercise of its business judgment under this Policy, the Compensation Committee may in its sole discretion determine whether and to what extent additional action is appropriate to address the circumstances surrounding an Accounting Restatement to minimize the likelihood of any recurrence and to impose such other discipline as it deems appropriate.
5. No Indemnification or Reimbursement
Notwithstanding the terms of any other policy, program, agreement or arrangement, in no event will the Company or any of its affiliates indemnify or reimburse an Executive Officer for any loss of Erroneously Awarded Compensation, or any claims relating to the Company’s enforcement of its rights under this Policy and in no event will the Company or any of its affiliates pay premiums on any insurance policy that would cover an Executive Officer’s potential obligations with respect to Erroneously Awarded Compensation under this Policy.
6. Other Claims and Rights
The remedies under this Policy are in addition to, and not in lieu of, any legal and equitable claims the Company or any of its affiliates may have or any actions that may be imposed by law enforcement agencies, regulators, administrative bodies, or other authorities. Further, the exercise by the Compensation Committee of any rights pursuant to this Policy will not impact any other rights that the Company or any of its affiliates may have with respect to any Covered Person subject to this Policy.
7. Acknowledgement by Executive Officers; Condition to Eligibility for Incentive Compensation
The Company will provide notice and seek acknowledgement of this Policy from each Executive Officer (see Exhibit A attached hereto), provided that the failure to provide such notice or obtain such acknowledgement will have no impact on the applicability or enforceability of this Policy. After the Effective Date, the Company must be in receipt of an Executive Officer’s acknowledgement as a condition to such Executive Officer’s eligibility to receive Incentive-based Compensation. All Incentive-based Compensation subject to this Policy will not be earned, even if already paid, until the Policy ceases to apply to such Incentive-based Compensation and any other vesting conditions applicable to such Incentive Compensation are satisfied.
8. Amendment
The Board may amend this Policy from time to time in its discretion or as it deems necessary. No amendment to this Policy shall be effective if such amendment would (after taking into account any actions taken by the Company contemporaneously with such amendment) cause the Company to violate any federal securities laws, SEC rule or NYSE Rule.
9. Effectiveness
Except as otherwise determined in writing by the Compensation Committee, this Policy will apply to any Incentive-based Compensation that is Received by an Executive Officer on or after the Effective Date. This Policy will survive and continue notwithstanding any termination of an Executive Officer’s employment with the Company and its affiliates.
10. Successors
This Policy shall be binding and enforceable against all Executive Officers and their successors, beneficiaries, heirs, executors, administrators, or other legal representatives.
11. Definitions of Terms
“Accounting Restatement” means a restatement of any of the Company’s financial statements filed with the Securities and Exchange Commission under the Exchange Act, or the Securities Act of 1933, as amended, due to the Company’s material noncompliance with any financial reporting requirement under U.S. securities laws, regardless of whether the Company or Executive Officer misconduct was the cause for such accounting restatement. “Accounting Restatement” includes any accounting restatement the Company is required to prepare to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.
“Compensation Committee” means the Company’s committee responsible for executive compensation decisions, or in the absence of such a committee, a majority of the independent directors serving on the Board.
“Effective Date” means October 2, 2023.
“Erroneously Awarded Compensation” means the amount of any Incentive-based Compensation (calculated on a pre-tax basis) Received by an Executive Officer during the Time Period Covered that is in excess of the amount that otherwise would have been Received if the calculation were based on the Accounting Restatement. For the avoidance of doubt, Erroneously Awarded Compensation does not include any Incentive-based Compensation Received by a person (i) before such person began service in a position or capacity meeting the definition of an “Executive Officer,” (ii) who did not serve as an Executive Officer at any time during the performance period relating to any Incentive-based Compensation, or (iii) during any period the Company did not have a class of its securities listed on a national securities exchange or a national securities association. For Incentive-based Compensation based on (or derived from) stock price or total shareholder return where the amount of Erroneously Awarded Compensation is not subject to mathematical recalculation directly from the information in the applicable Accounting Restatement, the amount will be determined by the Compensation Committee based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or total shareholder return upon which the Incentive-based Compensation was Received (in which case, the Company will maintain documentation of such determination of that reasonable estimate and provide such documentation to the Company’s applicable listing exchange).
“Executive Officer” means the Company’s president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice-president of the issuer in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person who performs similar policymaking functions for the issuer. Executive officers of an issuer’s parent(s) or subsidiaries are deemed executive officers of the issuer if they perform such policy making functions for the issuer. The identification of an executive officer for purposes of this Policy shall include each executive officer who is or was identified pursuant to Item 401(b) of Regulation S-K.
“Financial Reporting Measure” means a measure that is determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements (including “non-GAAP” financial measures, such as those appearing in the Company’s earnings releases or Management Discussion and Analysis), and any measure that is derived wholly or in part from such measure. Stock price and total shareholder return (and any measures derived wholly or in part therefrom) shall, for purposes of this Policy, be considered Financial Reporting Measures. For the avoidance of doubt, a Financial Reporting Measure need not be presented in the Company’s financial statements or included in a filing with the SEC.
“Impracticable.” Either of the following three conditions are met and the Compensation Committee has determined that recovery would be impracticable:
(i) The Compensation Committee has determined that the direct expense paid to a third party to assist in enforcing this Policy would exceed the amount to be recovered after the Company has (A) made a reasonable attempt to recover the Erroneously Awarded Compensation and (B) documented such attempts and provided documentation of such attempts to recover to the Company’s applicable listing exchange;
(ii) Recovery would violate home country law where that law was adopted prior to November 28, 2022. Before concluding that it would be impracticable to recover any amount of erroneously awarded compensation based on violation of home country law, the issuer must obtain an opinion of home country counsel, acceptable to NYSE, that recovery would result in such a violation, and must provide such opinion to the NYSE; or
(iii) Recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees of the Company, to fail to meet the qualifications and other applicable requirements of the Internal Revenue Code of 1986, as amended, and regulations thereunder.
“Incentive-based Compensation” means any compensation that is granted, earned, or vested based wholly or in part upon the attainment of a Financial Reporting Measure.
“Received.” Incentive-based Compensation is deemed “Received” in the Company’s fiscal period during which the Financial Reporting Measure specified in the Incentive-based Compensation award is attained, even if the payment or grant of the Incentive-based Compensation occurs after the end of that period.
“Time Period Covered” means, with respect to any Accounting Restatement, the three completed fiscal years of the Company immediately preceding the earlier of (i) the date the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes (or reasonably should have concluded) that the Company is required to prepare an Accounting Restatement or (ii) the date a regulator, court or other legally authorized entity directs the Company to undertake an Accounting Restatement. The “Time Period Covered” also includes any transition period of less than nine months (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence.
Exhibit A
ATTESTATION AND ACKNOWLEDGEMENT OF POLICY FOR THE RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION
By my signature below, I acknowledge and agree that:
Signature:
Printed Name:
Date:
| This ‘10-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 2/14/24 | None on these Dates | ||
| For Period end: | 12/31/23 | |||
| 10/2/23 | ||||
| 11/28/22 | ||||
| List all Filings | ||||