NOV(US:NOV)2025-02-14 20:04Financial Performance - As of December 31, 2024, the company's backlog was $4.4 billion, up from $4.1 billion in 2023 and $3.8 billion in 2022, indicating a growth of approximately 7.3% year-over-year[60] - The company reported foreign currency losses of $19 million, $84 million, and $25 million for the years ended December 31, 2024, 2023, and 2022, respectively, highlighting a significant decrease in losses in 2024[206] - The company had transactional exposures totaling $594 million and translational exposures totaling $354 million in foreign currencies as of December 31, 2024[208] - The company’s borrowings included $1,091 million in 3.95% Senior Notes and $496 million in 3.60% Senior Notes, with no outstanding letters of credit under the credit facility, resulting in $1.5 billion of available funds[210] Innovation and Technology - The company has invested in new technologies related to renewable energy, indicating a strategic focus on diversifying its product offerings[54] - The company holds a substantial number of granted patents and pending patent applications worldwide, with expiration dates ranging from 2025 to 2044, reflecting its commitment to innovation[55] Operational Challenges - The company has experienced rising prices for stainless alloy products, which may impact future operations if raw material costs continue to increase[58] Workforce and Diversity - The company employs 34,010 global employees, with 34% based in the United States, emphasizing its diverse workforce[61] - The company recognizes that diversity and inclusion contribute to achieving its goals, with women making up 16% of all employees and 27% of the Board of Directors[67] Employee Safety and Health - The company has implemented various safety programs and initiatives to protect the health and safety of its employees, which is a core value[65]