XML 55 R39.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Domestic and Foreign Components of Income (Loss) Before Income Taxes | The domestic and foreign components of income (loss) before income taxes were as follows (in millions):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Domestic |  | $ | (470 | ) |  | $ | (2,095 | ) |  | $ | (1,577 | )
Foreign |  |  | 78 |  |  |  | (528 | ) |  |  | 988 |
|  | $ | (392 | ) |  | $ | (2,623 | ) |  | $ | (589 | )
Components of Provision for Income Taxes | The components of the provision for income taxes consisted of (in millions):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 23 |  |  | $ | (79 | ) |  | $ | 30 |
State |  |  | 1 |  |  |  | (4 | ) |  |  | (58 | )
Foreign |  |  | 161 |  |  |  | 74 |  |  |  | 464 |
Total current income tax provision |  |  | 185 |  |  |  | (9 | ) |  |  | 436 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (332 | ) |  |  | (132 | ) |  |  | (41 | )
State |  |  | (2 | ) |  |  | (7 | ) |  |  | (38 | )
Foreign |  |  | (7 | ) |  |  | (59 | ) |  |  | (179 | )
Total deferred income tax provision |  |  | (341 | ) |  |  | (198 | ) |  |  | (258 | )
Total income tax provision |  | $ | (156 | ) |  | $ | (207 | ) |  | $ | 178 |
Difference Between Effective Tax Rate | The difference between the effective tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows (in millions):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Federal income tax at U.S. statutory rate |  | $ | (137 | ) |  | $ | (918 | ) |  | $ | (206 | )
Foreign income tax rate differential |  |  | (21 | ) |  |  | 32 |  |  |  | (110 | )
Goodwill impairment |  |  | — |  |  |  | 271 |  |  |  | 462 |
Nondeductible expenses |  |  | 38 |  |  |  | 30 |  |  |  | 66 |
Foreign dividends, net of foreign tax credits |  |  | (132 | ) |  |  | (25 | ) |  |  | 28 |
Tax rate change on timing differences |  |  | (245 | ) |  |  | (8 | ) |  |  | (45 | )
Change in uncertain tax positions |  |  | 81 |  |  |  | 11 |  |  |  | 69 |
Prior years taxes |  |  | (26 | ) |  |  | (29 | ) |  |  | (47 | )
Tax impact on foreign exchange |  |  | 5 |  |  |  | (4 | ) |  |  | (46 | )
Change in deferred tax valuation allowance |  |  | 280 |  |  |  | 476 |  |  |  | 15 |
Other |  |  | 1 |  |  |  | (43 | ) |  |  | (8 | )
Total income tax provision |  | $ | (156 | ) |  | $ | (207 | ) |  | $ | 178 |
Significant Components of Deferred Tax Assets and Liability | Significant components of our deferred tax assets and liabilities were as follows (in millions):
|  | December 31, |
|  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowances and operating liabilities |  | $ | 355 |  |  | $ | 534 |
Net operating loss carryforwards |  |  | 182 |  |  |  | 153 |
Postretirement benefits |  |  | 31 |  |  |  | 60 |
Tax credit carryforwards |  |  | 1,002 |  |  |  | 405 |
Other |  |  | 78 |  |  |  | 164 |
Valuation allowance |  |  | (1,202 | ) |  |  | (544 | )
Total deferred tax assets |  |  | 446 |  |  |  | 772 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Tax over book depreciation |  |  | 174 |  |  |  | 267 |
Intangible assets |  |  | 716 |  |  |  | 1,148 |
Deferred income |  |  | 111 |  |  |  | 185 |
Accrued tax on unremitted earnings |  |  | 17 |  |  |  | 53 |
Other |  |  | 92 |  |  |  | 97 |
Total deferred tax liabilities |  |  | 1,110 |  |  |  | 1,750 |
Net deferred tax liability |  | $ | 664 |  |  | $ | 978 |
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
|  | 2017 |  |  | 2016 |  |  | 2015 |
Unrecognized tax benefit at beginning of year |  | $ | 78 |  |  | $ | 46 |  |  | $ | 115 |
Gross increase for current period tax positions |  |  | 10 |  |  |  | 3 |  |  |  | 8 |
Gross increase for tax positions in prior years |  |  | 64 |  |  |  | 65 |  |  |  | 75 |
Gross decrease for tax positions in prior years |  |  | (14 | ) |  |  | (21 | ) |  |  | (75 | )
Settlements |  |  | — |  |  |  | (3 | ) |  |  | (69 | )
Lapse of statute of limitations |  |  | (6 | ) |  |  | (12 | ) |  |  | (8 | )
Unrecognized tax benefit at end of year |  | $ | 132 |  |  | $ | 78 |  |  | $ | 46 |
Summary of Net Operating Loss Carryforwards | Net operating loss carryforwards by jurisdiction and expiration as of December 31, 2017 were as follows (in millions):
|  | Federal |  |  | State |  |  | Foreign |  |  | Total |
2018 - 2021 Expiration |  | $ | 6 |  |  | $ | 2 |  |  | $ | 57 |  |  | $ | 65 |
2022 - 2033 Expiration |  |  | 16 |  |  |  | 16 |  |  |  | 123 |  |  |  | 155 |
2034 - 2037 Expiration |  |  | — |  |  |  | 127 |  |  |  | 97 |  |  |  | 224 |
Unlimited Expiration |  |  | — |  |  |  | — |  |  |  | 372 |  |  |  | 372 |
Total Net Operating Loss (NOL) |  | $ | 22 |  |  | $ | 145 |  |  | $ | 649 |  |  | $ | 816 |
Tax Effected NOL |  | $ | 5 |  |  | $ | 8 |  |  | $ | 169 |  |  | $ | 182 |
Valuation Allowance (VA) |  |  | (4 | ) |  |  | (8 | ) |  |  | (145 | ) |  |  | (157 | )
NOL Net of VA |  | $ | 1 |  |  | $ | — |  |  | $ | 24 |  |  | $ | 25 |

X
- Definition Income Tax Expense Benefit Continuing Operations [Table Text Block] + References No definition available. + Details
Name: | nov_IncomeTaxExpenseBenefitContinuingOperationsTableTextBlock
Namespace Prefix: | nov_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits. + References No definition available. + Details
Name: | nov_ReconciliationOfBeginningAndEndingAmountOfUnrecognizedTaxBenefitsTableTextBlock
Namespace Prefix: | nov_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration