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Spin-off of distribution business (Tables) | 12 Months Ended
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Dec. 31, 2013
Discontinued Operations And Disposal Groups [Abstract] |
Schedule of Assets and Liabilities Preceding Spin-off | The following table presents the carrying value of assets and liabilities of NOW (in millions):
|  | December 31, |
|  | 2013 |  |  | 2012 |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 101 |  |  | $ | 138 |
Receivables, net |  |  | 661 |  |  |  | 692 |
Inventories, net |  |  | 850 |  |  |  | 1,015 |
Deferred income taxes |  |  | 21 |  |  |  | 18 |
Prepaid and other current assets |  |  | 29 |  |  |  | 19 |
Total current assets of discontinued operations |  |  | 1,662 |  |  |  | 1,882 |
Property, plant and equipment, net |  |  | 102 |  |  |  | 61 |
Deferred income taxes |  |  | 15 |  |  |  | 11 |
Goodwill |  |  | 333 |  |  |  | 343 |
Intangibles, net |  |  | 68 |  |  |  | 74 |
Other assets |  |  | 3 |  |  |  | 2 |
Total assets of discontinued operations |  | $ | 2,183 |  |  | $ | 2,373 |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 264 |  |  | $ | 272 |
Accrued liabilities |  |  | 99 |  |  |  | 113 |
Accrued income taxes |  |  | — |  |  |  | 6 |
Total current liabilities of discontinued operations |  |  | 363 |  |  |  | 391 |
Deferred income taxes |  |  | 16 |  |  |  | 9 |
Other liabilities |  |  | 2 |  |  |  | 2 |
Total liabilities of discontinued operations |  | $ | 381 |  |  | $ | 402 |
Schedule of Selected Financial Information Reported as Discontinued Operations | The following table presents selected financial information regarding the results of operations of our distribution business, which is reported as discontinued operations (in millions):
|  | Years Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Revenue from discontinued operations |  | $ | 4,296 |  |  | $ | 3,414 |  |  | $ | 1,641 |
Income from discontinued operations before income taxes |  |  | 222 |  |  |  | 165 |  |  |  | 128 |
Income tax expense |  |  | 75 |  |  |  | 57 |  |  |  | 43 |
Income from discontinued operations |  | $ | 147 |  |  | $ | 108 |  |  | $ | 85 |

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