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Earnings Per Share | 9 Months Ended
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Sep. 30, 2014
Earnings Per Share [Abstract] |
Earnings Per Share | 9. Earnings Per Share In conjunction with the Separation, NOV distributed to its stockholders all 107,053,031 shares of common stock of NOW Inc. after the market closed on May 30, 2014. Each NOV stockholder received one share of NOW common stock for every four shares of NOV common stock held at the close of business on the record date of May 22, 2014 and not sold prior to close of business May 30, 2014. On June 2, 2014, NOW Inc. stock began trading the “regular-way” on the New York Stock Exchange under the symbol “DNOW”. Basic earnings per share is based on net income attributable to the Company’s earnings and is calculated based upon the daily weighted-average number of common shares outstanding during the periods presented. Also, this calculation includes fully vested stock and unit awards that have not yet been issued as common stock. Diluted EPS includes the above, plus unvested stock, unit or option awards granted and vested unexercised stock options, but only to the extent these instruments dilute earnings per share. For comparative purposes, and to provide a more meaningful calculation of weighted-average shares outstanding, the Company has assumed the 107,053,031 shares of common stock of NOW Inc. that was distributed on May 30, 2014 to be outstanding as of the beginning of each period prior to the separation presented in the calculation of weighted-average shares. In addition, the Company has assumed the dilutive securities outstanding at May 30, 2014, were also outstanding for each of the periods prior to the Separation presented. For the three and nine months ended September 30, 2014, 1,233,385 and 2,083,908, respectively, of stock options, RSAs and RSUs were excluded from the computation of diluted earnings per share due to their antidilutive effect.
|  | Three Months Ended September 30 |  |  | Nine Months Ended September 30 |
(In millions, except share data) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Numerator for basic and diluted net income per share attributable to the Company’s stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to the Company |  | $ | 32 |  |  | $ | 39 |  |  | $ | 100 |  |  | $ | 113 |
Denominator for basic earnings per share attributable to the Company’s stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 107,061,639 |  |  |  | 107,053,031 |  |  |  | 107,055,932 |  |  |  | 107,053,031 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive effect of stock based compensation |  |  | 563,604 |  |  |  | 415,837 |  |  |  | 492,235 |  |  |  | 415,837 |
Denominator for diluted earnings per share attributable to the Company’s stockholders: |  |  | 107,625,243 |  |  |  | 107,468,868 |  |  |  | 107,548,167 |  |  |  | 107,468,868 |
Earnings per share attributable to the Company’s stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.30 |  |  | $ | 0.37 |  |  | $ | 0.93 |  |  | $ | 1.06 |
Diluted |  | $ | 0.30 |  |  | $ | 0.36 |  |  | $ | 0.93 |  |  | $ | 1.05 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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