Spin-off of distribution business (Tables)

12 Months Ended

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