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v3.20.4

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Disaggregation of Revenue | The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands):
| Year Ended December 31, 2020
| Tubular Running Services |  | Tubulars |  | Cementing Equipment |  | Consolidated
United States | $ | 84,192 |  |  | $ | 34,318 |  |  | $ | 36,731 |  |  | $ | 155,241 |
International | 185,519 |  |  | 19,350 |  |  | 30,248 |  |  | 235,117 |
Total Revenue | $ | 269,711 |  |  | $ | 53,668 |  |  | $ | 66,979 |  |  | $ | 390,358 |
| Year Ended December 31, 2019
| Tubular Running Services |  | Tubulars |  | Cementing Equipment |  | Consolidated
United States | $ | 147,547 |  |  | $ | 63,087 |  |  | $ | 82,538 |  |  | $ | 293,172 |
International | 252,780 |  |  | 11,600 |  |  | 22,368 |  |  | 286,748 |
Total Revenue | $ | 400,327 |  |  | $ | 74,687 |  |  | $ | 104,906 |  |  | $ | 579,920 |
| Year Ended December 31, 2018
| Tubular Running Services |  | Tubulars |  | Cementing Equipment |  | Consolidated
United States | $ | 142,262 |  |  | $ | 66,017 |  |  | $ | 72,316 |  |  | $ | 280,595 |
International | 218,783 |  |  | 6,286 |  |  | 16,829 |  |  | 241,898 |
Total Revenue | $ | 361,045 |  |  | $ | 72,303 |  |  | $ | 89,145 |  |  | $ | 522,493 |
Revenue by geographic area was as follows (in thousands):
|  |  | Year Ended
|  |  | December 31,
|  |  |  |  | 2020 |  | 2019 |  | 2018
United States |  |  |  |  | $ | 155,241 |  |  | $ | 293,172 |  |  | $ | 280,595 |
Europe/Middle East/Africa |  |  |  |  | 101,693 |  |  | 155,278 |  |  | 127,968 |
Latin America |  |  |  |  | 87,517 |  |  | 72,720 |  |  | 46,553 |
Asia Pacific |  |  |  |  | 34,094 |  |  | 35,909 |  |  | 35,327 |
Other countries |  |  |  |  | 11,813 |  |  | 22,841 |  |  | 32,050 |
Total Revenue |  |  |  |  | $ | 390,358 |  |  | $ | 579,920 |  |  | $ | 522,493 |
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):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Segment Adjusted EBITDA: |  |  |  |  |
Tubular Running Services | $ | 22,171 |  |  | $ | 85,601 |  |  | $ | 62,515 |
Tubulars | 7,765 |  |  | 11,575 |  |  | 11,246 |
Cementing Equipment | 10,780 |  |  | 14,089 |  |  | 8,617 |
Corporate (1) | (31,720) |  |  | (53,744) |  |  | (49,146) |
Total | 8,996 |  |  | 57,521 |  |  | 33,232 |
Goodwill impairment | (57,146) |  |  | (111,108) |  |  | — |
Severance and other (charges) credits, net | (33,023) |  |  | (50,430) |  |  | 310 |
Interest income, net | 712 |  |  | 2,265 |  |  | 4,243 |
Income tax benefit (expense) | 4,081 |  |  | (23,794) |  |  | 2,950 |
Depreciation and amortization | (70,169) |  |  | (92,800) |  |  | (111,292) |
Gain (loss) on disposal of assets | 1,424 |  |  | (1,037) |  |  | 1,309 |
Foreign currency loss | (211) |  |  | (2,233) |  |  | (5,675) |
TRA related adjustments (2) | — |  |  | 220 |  |  | (1,359) |
Charges and credits (3) | (10,884) |  |  | (13,933) |  |  | (14,451) |
Net loss | $ | (156,220) |  |  | $ | (235,329) |  |  | $ | (90,733) |
(1) Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives. (2) Please see Note 11—Related Party Transactions for further discussion. (3) Comprised of Equity-based compensation expense (2020: $11,010; 2019: $11,280; 2018: $10,621), Mergers and acquisition expense (2020: none; 2019: none; 2018: $58), Unrealized and realized gains (2020: $1,378; 2019: $228; 2018: $1,682), Investigation-related matters (2020: $1,868; 2019: $3,838; 2018: $5,454) and Other adjustments (2020: $616; 2019: $957; 2018: none).
Schedule of Segment Reporting Information, by Segment | The following table sets forth certain financial information with respect to our reportable segments (in thousands):
| Tubular Running Services |  | Tubulars |  | Cementing Equipment |  | Corporate |  | Total
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |
Revenue from external customers | $ | 269,711 |  |  | $ | 53,668 |  |  | $ | 66,979 |  |  | $ | — |  |  | $ | 390,358 |
Operating income (loss) | (39,470) |  |  | 3,223 |  |  | (76,591) |  |  | (50,054) |  |  | (162,892) |
Adjusted EBITDA | 22,171 |  |  | 7,765 |  |  | 10,780 |  |  | (31,720) |  |  | *
Depreciation and amortization | 51,528 |  |  | 3,526 |  |  | 9,011 |  |  | 6,104 |  |  | 70,169 |
Purchases of property, plant and equipment and intangibles | 16,049 |  |  | 3,132 |  |  | 6,327 |  |  | 2,965 |  |  | 28,473 |
Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |
Revenue from external customers | $ | 400,327 |  |  | $ | 74,687 |  |  | $ | 104,906 |  |  | $ | — |  |  | $ | 579,920 |
Operating income (loss) | (3,900) |  |  | 7,344 |  |  | (124,597) |  |  | (91,737) |  |  | (212,890) |
Adjusted EBITDA | 85,601 |  |  | 11,575 |  |  | 14,089 |  |  | (53,744) |  |  | *
Depreciation and amortization | 61,036 |  |  | 2,903 |  |  | 16,130 |  |  | 12,731 |  |  | 92,800 |
Purchases of property, plant and equipment and intangibles | 16,086 |  |  | 2,859 |  |  | 16,374 |  |  | 1,623 |  |  | 36,942 |
Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |
Revenue from external customers | $ | 361,045 |  |  | $ | 72,303 |  |  | $ | 89,145 |  |  | $ | — |  |  | $ | 522,493 |
Operating loss | (16,886) |  |  | 7,616 |  |  | (9,313) |  |  | (74,298) |  |  | (92,881) |
Adjusted EBITDA | 62,515 |  |  | 11,246 |  |  | 8,617 |  |  | (49,146) |  |  | *
Depreciation and amortization | 80,009 |  |  | 3,371 |  |  | 16,324 |  |  | 11,588 |  |  | 111,292 |
Purchases of property, plant and equipment and intangibles | 7,824 |  |  | 1,838 |  |  | 7,583 |  |  | 39,226 |  |  | 56,471 |
* Non-GAAP financial measure not disclosed.The following table presents property, plant and equipment (“PP&E”) by segment.
| December 31,
| 2020 |  | 2019
Long-Lived Assets (PP&E) |  |  |
Tubular Running Services | $ | 90,955 |  |  | $ | 132,626 |
Tubulars | 14,782 |  |  | 15,162 |
Cementing Equipment | 23,441 |  |  | 34,184 |
Corporate and shared assets | 143,529 |  |  | 146,460 |
Total | $ | 272,707 |  |  | $ | 328,432 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets |
| December 31,
| 2020 |  | 2019
Long-Lived Assets (PP&E) |  |  |
United States | $ | 162,032 |  |  | $ | 207,227 |
International | 110,675 |  |  | 121,205 |
| $ | 272,707 |  |  | $ | 328,432 |

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