NOV Inc.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income | $151 | $635 | $985 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 355 | 343 | 302 |
| Goodwill and long-lived asset impairment | 70 | — | — |
| Deferred income taxes | 93 | 49 | (489) |
| Stock-based compensation | 67 | 70 | 66 |
| Equity (income) loss in unconsolidated affiliates | 16 | (36) | (119) |
| Dividend from unconsolidated affiliate | 2 | 84 | — |
| Gain on business divestiture | — | (130) | — |
| Other, net | 88 | 74 | (18) |
| Change in operating assets and liabilities, net of acquisitions: | |||
| Receivables | 222 | 93 | (269) |
| Inventories | 97 | 270 | (361) |
| Contract assets | (19) | 162 | (55) |
| Prepaid and other current assets | 41 | 17 | (40) |
| Accounts payable | (6) | (87) | (4) |
| Accrued liabilities | (48) | (51) | (116) |
| Contract liabilities | 73 | (42) | 82 |
| Income taxes payable | 39 | (5) | (6) |
| Other assets/liabilities, net | 10 | (142) | 185 |
| Net cash provided by operating activities | 1,251 | 1,304 | 143 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (375) | (351) | (283) |
| Business acquisitions, net of cash acquired | — | (298) | (22) |
| Business divestitures, net of cash disposed | — | 176 | — |
| Other, net | 13 | 2 | 12 |
| Net cash used in investing activities | (362) | (471) | (293) |
| Cash flows from financing activities: | |||
| Borrowings against lines of credit and other debt | 3 | 420 | 184 |
| Payments against lines of credit and other debt | (26) | (431) | (192) |
| Financing leases | (28) | (28) | (23) |
| Cash dividends paid | (190) | (108) | (79) |
| Share repurchases | (315) | (229) | — |
| Other | (28) | (30) | 7 |
| Net cash used in financing activities | (584) | (406) | (103) |
| Effect of exchange rates on cash | 17 | (13) | — |
| Increase (decrease) in cash and cash equivalents | 322 | 414 | (253) |
| Cash and cash equivalents, beginning of period | 1,230 | 816 | 1,069 |
| Cash and cash equivalents, end of period | $1,552 | $1,230 | $816 |
| Supplemental disclosures of cash flow information: | |||
| Cash payments during the period for: | |||
| Interest | $85 | $86 | $85 |
| Income taxes | $106 | $161 | $114 |
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