Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands):



	Three Months Ended September 30, 2019
	Tubular Running Services		Tubulars		Cementing Equipment		Consolidated
United States	$	34,903	$	10,148	$	20,044	$	65,095
International	67,374		2,371		5,577		75,322
Total Revenue	$	102,277	$	12,519	$	25,621	$	140,417

	Three Months Ended September 30, 2018
	Tubular Running Services		Tubulars		Cementing Equipment		Consolidated
United States	$	36,817	$	14,310	$	19,096	$	70,223
International	52,972		955		4,836		58,763
Total Revenue	$	89,789	$	15,265	$	23,932	$	128,986



	Nine Months Ended September 30, 2019
	Tubular Running Services		Tubulars		Cementing Equipment		Consolidated
United States	$	114,466	$	45,163	$	62,963	$	222,592
International	192,505		8,347		17,035		217,887
Total Revenue	$	306,971	$	53,510	$	79,998	$	440,479

	Nine Months Ended September 30, 2018
	Tubular Running Services		Tubulars		Cementing Equipment		Consolidated
United States	$	101,117	$	46,857	$	54,568	$	202,542
International	159,064		3,134		11,900		174,098
Total Revenue	$	260,181	$	49,991	$	66,468	$	376,640

Revenue by geographic area were as follows (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
United States	$	65,095	$	70,223	$	222,592	$	202,542
Europe/Middle East/Africa	41,071		30,064		116,126		91,154
Latin America	19,181		11,984		56,520		32,441
Asia Pacific	9,727		8,934		27,753		26,200
Other countries	5,343		7,781		17,488		24,303
Total Revenue	$	140,417	$	128,986	$	440,479	$	376,640

Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated

The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands):



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Segment Adjusted EBITDA:
Tubular Running Services	$	23,884		$	17,070		$	67,019		$	40,876
Tubulars	456			1,541			8,502			8,461
Cementing Equipment	3,031			1,972			9,854			7,074
Corporate ⁽¹⁾	(11,350		)	(8,967		)	(42,533		)	(36,001		)
	16,021			11,616			42,842			20,410
Interest income, net	563			866			1,757			2,419
Depreciation and amortization	(21,482		)	(26,998		)	(70,637		)	(84,160		)
Income tax (expense) benefit	(7,297		)	7,461			(20,370		)	1,901
Gain (loss) on disposal of assets	(603		)	2,242			(984		)	1,790
Foreign currency loss	(3,872		)	(879		)	(4,050		)	(3,442		)
TRA related adjustments	—			(1,170		)	220			(5,282		)
Charges and credits ⁽²⁾	(7,119		)	(137		)	(16,014		)	(8,471		)
Net loss	$	(23,789	)	$	(6,999	)	$	(67,236	)	$	(74,835	)


⁽¹⁾	Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives.

⁽²⁾

Comprised of Equity-based compensation expense (for the three months ended September 30, 2019 and 2018: $2,647 and $3,008, respectively, and for the nine months ended September 30, 2019 and 2018: $8,238 and $8,176, respectively), Mergers and acquisition expense (for the three months ended September 30, 2019 and 2018: none and none, respectively, and for the nine months ended September 30, 2019 and 2018: none and $58, respectively), Severance and other (charges) credits, net (for the three months ended September 30, 2019 and 2018: $(5,222) and $4,852, respectively, and for the nine months ended September 30, 2019 and 2018: $(6,492) and $2,483, respectively), Unrealized and realized gains (for the three months ended September 30, 2019 and 2018: $1,382 and $360, respectively, and for the nine months ended September 30, 2019 and 2018: $2,073 and $1,521, respectively) and Investigation-related matters (for the three months ended September 30, 2019 and 2018: $632 and $2,341, respectively, and for the nine months ended September 30, 2019 and 2018: $3,357 and $4,241, respectively).

Schedule of Financial Information, by Reportable Segments

The following tables set forth certain financial information with respect to our reportable segments (in thousands):



	Tubular Running Services			Tubulars			Cementing Equipment			Corporate			Total
Three Months Ended September 30, 2019
Revenue from external customers	$	102,277		$	12,519		$	25,621		$	—		$	140,417
Operating income (loss)	8,253			(377		)	(1,610		)	(21,069		)	(14,803		)
Adjusted EBITDA	23,884			456			3,031			(11,350		)	*

Three Months Ended September 30, 2018
Revenue from external customers	$	89,789		$	15,265		$	23,932		$	—		$	128,986
Operating income (loss)	4,099			46			(2,226		)	(15,510		)	(13,591		)
Adjusted EBITDA	17,070			1,541			1,972			(8,967		)	*

Nine Months Ended September 30, 2019
Revenue from external customers	$	306,971		$	53,510		$	79,998		$	—		$	440,479
Operating income (loss)	17,094			5,906			(4,744		)	(65,867		)	(47,611		)
Adjusted EBITDA	67,019			8,502			9,854			(42,533		)	*

Nine Months Ended September 30, 2018
Revenue from external customers	$	260,181		$	49,991		$	66,468		$	—		$	376,640
Operating income (loss)	(16,409		)	5,702			(5,981		)	(55,592		)	(72,280		)
Adjusted EBITDA	40,876			8,461			7,074			(36,001		)	*

* Non-GAAP financial measure not disclosed.