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Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2020
Postemployment Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans U.S. Benefit Plans 401(k) Savings and Investment Plan. Frank’s International, LLC administers a 401(k) savings and investment plan (the “Plan”) as part of the employee benefits package. Employees are required to complete one month of service before becoming eligible to participate in the Plan. Prior to May 21, 2020, we matched 100% of the first 3% of eligible compensation an employee contributed to the Plan up to the annual allowable IRS limit. Additionally, the Company provided a 50% match on any employee contributions between 4% to 6% of eligible compensation. Effective May 21, 2020, the Safe Harbor Matching Contribution was eliminated. Our matching contributions to the Plan totaled $2.2 million, $5.0 million and $4.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Executive Deferred Compensation Plan. In December 2004, we and certain affiliates adopted the Frank’s Executive Deferred Compensation Plan (the “EDC Plan”). The purpose of the EDC Plan is to provide participants with an opportunity to defer receipt of a portion of their salary, bonus, and other specified cash compensation. Participant contributions are immediately vested. Our contributions vest after five years of service. All participant benefits under this EDC Plan shall be paid directly from the general funds of the applicable participating subsidiary or a grantor trust, commonly referred to as a Rabbi Trust, created for the purpose of informally funding the EDC Plan, and other than such Rabbi Trust, no special or separate fund shall be established and no other segregation of assets shall be made to assure payment. The assets of our EDC Plan’s trust are invested in a corporate owned split-dollar life insurance policy and an amalgamation of mutual funds (See Note 6—Other Assets). We recorded compensation expense related to the vesting of the Company’s contribution of $1.0 million for the year ended December 31, 2018. No compensation expense related to the vesting of the Company’s contribution was recorded for the years ended December 31, 2020 and 2019. The total liability recorded at December 31, 2020 and 2019, related to the EDC Plan was $20.3 million and $23.3 million, respectively, and was included in other noncurrent liabilities on the consolidated balance sheets.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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- References No definition available. + Details
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