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SCHEDULE II NATIONAL OILWELL VARCO, INC. VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2012

SCHEDULE II NATIONAL OILWELL VARCO, INC. VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

NATIONAL OILWELL VARCO, INC.

VALUATION AND QUALIFYING ACCOUNTS

Years Ended December 31, 2012, 2011 and 2010

(in millions)

		Balance beginning of year				Additions (Deductions) charged to costs and expenses				Charge off’s and other				Balance end of year
Allowance for doubtful accounts:
2012		$	107			$	6			$	7			$	120
2011			107				9				(9	)			107
2010			95				39				(27	)			107
Allowance for excess and obsolete inventories:
2012		$	281			$	99			$	(42	)		$	338
2011			270				70				(59	)			281
2010			206				106				(42	)			270
Valuation allowance for deferred tax assets:
2012		$	13			$	80			$	—			$	93
2011			9				4				—				13
2010			8				1				—				9
Warranty reserve:
2012		$	211			$	51			$	(68	)		$	194
2011			215				40				(44	)			211
2010			217				52				(54	)			215

X

- Definition

The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 09

-Article 12



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

+ Details

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Period Type:	duration