XML 48 R24.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Severance and Other Charges | 6 Months Ended
--- | ---
Jun. 30, 2015
Restructuring and Related Activities [Abstract] |
Severance and Other Charges | Severance and Other Charges We are facing a challenging year in the oilfield industry due to the dramatic drop in oil prices. We continue to develop and implement cost savings steps in response to these difficult market conditions. On March 31, 2015, we announced a plan to reduce our workforce by approximately 400 to 600 employees. This action was completed in the second quarter at the higher end of the range guidance. As of June 30, 2015, we expect to incur total costs of $13.0 million, which is reflected in our consolidated statements of income under severance and other charges. The $13.0 million is inclusive of accelerated stock-based compensation expense of $1.0 million and $2.3 million for the three and six months ended June 30, 2015, respectively, recognized as a component of equity. Below is a reconciliation of the beginning and ending liability balance (in thousands):
| International Services |  | U.S. Services |  | Tubular Sales |  | Total
Beginning balance, March 31, 2015 | $ | 372 |  |  | $ | 10,743 |  |  | $ | 858 |  |  | $ | 11,973 |
Increase in accrual | — |  |  | — |  |  | 27 |  |  | 27 |
Decrease in accrual | — |  |  | (1,345 | ) |  |  |  | (1,345 | )
Severance and other payments | (187 | ) |  | (2,757 | ) |  | (885 | ) |  | (3,829 | )
Ending balance, June 30, 2015 | $ | 185 |  |  | $ | 6,641 |  |  | $ | — |  |  | $ | 6,826 |
We expect to pay the remaining liability by November 2015.

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

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration