DNOW Inc
For the period ended Mar 31, 2025. Filed May 7, 2025.
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Mar 31, 2025 · Filed May 7, 2025
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Consolidated Variable Interest Entities ("VIE")
The Company holds a 49% interest in one VIE located in the Middle East. The Company is the primary beneficiary and consolidates the VIE as it has the power to direct the activities that most significantly affect the VIE’s economic performance and has the obligation to absorb the VIE’s losses or the right to receive benefits. For thethree months ended March 31, 2025 and 2024, net income attributable to noncontrolling interest was $1 million and less than $1 million, respectively.
The assets of the VIE can only be used to settle its own obligations and its creditors have no recourse to the Company’s assets. As of March 31, 2025 and December 31, 2024, the VIE’s assets were primarily current assets of $11 million and $10 million, respectively, and the liabilities were primarily current liabilities of$2 million in both periods.
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