NOV Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
NOV$17.68-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $985 | $155 | $(245) |
| Adjustments to reconcile net income (loss) to net cash provided (used in) by operating activities: | |||
| Depreciation and amortization | 302 | 301 | 306 |
| Russia/Belarus Impairment and loss on assets held for sale | 4 | 127 | — |
| Deferred income taxes | (489) | (2) | 11 |
| Stock-based compensation | 66 | 67 | 78 |
| Loss on extinguishment of debt | — | — | 7 |
| Equity (income) loss in unconsolidated affiliates | (119) | (68) | 5 |
| Provision for inventory losses | 28 | (18) | 73 |
| Other, net | (50) | 18 | 16 |
| Change in operating assets and liabilities, net of acquisitions: | |||
| Receivables | (269) | (440) | (52) |
| Inventories | (361) | (480) | 17 |
| Contract assets | (55) | (220) | 150 |
| Prepaid and other current assets | (40) | 6 | 28 |
| Accounts payable | (4) | 289 | 118 |
| Accrued liabilities | (116) | 101 | (97) |
| Contract liabilities | 82 | 52 | 27 |
| Income taxes payable | (6) | 5 | (28) |
| Other assets/liabilities, net | 185 | (72) | (123) |
| Net cash provided by (used in) operating activities | 143 | (179) | 291 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (283) | (214) | (201) |
| Business acquisitions, net of cash acquired | (22) | (49) | (52) |
| Other, net | 12 | 25 | 57 |
| Net cash used in investing activities | (293) | (238) | (196) |
| Cash flows from financing activities: | |||
| Borrowings against lines of credit and other debt | 2 | 20 | 60 |
| Payments against lines of credit and other debt | (10) | (4) | (183) |
| Financing leases | (23) | (24) | (26) |
| Cash dividends paid | (79) | (78) | (20) |
| Debt issuance and extinguishment costs | — | — | (7) |
| Other | 7 | (10) | (13) |
| Net cash used in financing activities | (103) | (96) | (189) |
| Effect of exchange rates on cash | — | (9) | (7) |
| Increase (decrease) in cash and cash equivalents | (253) | (522) | (101) |
| Cash and cash equivalents, beginning of period | 1,069 | 1,591 | 1,692 |
| Cash and cash equivalents, end of period | $816 | $1,069 | $1,591 |
| Supplemental disclosures of cash flow information: | |||
| Cash payments (refunds) during the period for: | |||
| Interest | $85 | $75 | $76 |
| Income taxes | $114 | $117 | $(78) |
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