XML 40 R24.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Geographic Segments | 12 Months Ended
--- | ---
Dec. 31, 2021
Segment Reporting [Abstract] |
Geographic Segments | 16. Geographic Segments
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Western Hemisphere |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |
Products |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 99,051 |  |  | $ | 79,433 |  |  | $ | 108,006 |
Over Time |  |  | 47,558 |  |  |  | 71,918 |  |  |  | 54,061 |
Total Products |  |  | 146,609 |  |  |  | 151,351 |  |  |  | 162,067 |
Services |  |  |  |  |  |  |  |  |
Technical Advisory |  |  | 36,897 |  |  |  | 33,431 |  |  |  | 31,962 |
Reconditioning |  |  | 8,783 |  |  |  | 12,105 |  |  |  | 10,733 |
Total Services (excluding Leasing) |  |  | 45,680 |  |  |  | 45,536 |  |  |  | 42,695 |
Leasing |  |  | 20,944 |  |  |  | 18,448 |  |  |  | 22,202 |
Total Services (including Leasing) |  |  | 66,624 |  |  |  | 63,984 |  |  |  | 64,897 |
Intercompany |  |  | 14,084 |  |  |  | 13,015 |  |  |  | 12,856 |
Total |  | $ | 227,317 |  |  | $ | 228,350 |  |  | $ | 239,820 |
Depreciation and amortization |  | $ | 17,889 |  |  | $ | 19,716 |  |  | $ | 21,737 |
Income (loss) before taxes |  | $ | (32,033 | ) |  | $ | 3,067 |  |  | $ | 19,882 |
Eastern Hemisphere |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |
Products |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 21,188 |  |  | $ | 30,191 |  |  | $ | 65,416 |
Over Time |  |  | 13,724 |  |  |  | 25,847 |  |  |  | 20,641 |
Total Products |  |  | 34,912 |  |  |  | 56,038 |  |  |  | 86,057 |
Services |  |  |  |  |  |  |  |  |
Technical Advisory |  |  | 7,920 |  |  |  | 9,489 |  |  |  | 15,100 |
Reconditioning |  |  | 2,348 |  |  |  | 4,843 |  |  |  | 3,409 |
Total Services (excluding Leasing) |  |  | 10,268 |  |  |  | 14,332 |  |  |  | 18,509 |
Leasing |  |  | 5,970 |  |  |  | 7,610 |  |  |  | 12,351 |
Total Services (including Leasing) |  |  | 16,238 |  |  |  | 21,942 |  |  |  | 30,860 |
Intercompany |  |  | 2,056 |  |  |  | 2,375 |  |  |  | 1,267 |
Total |  | $ | 53,206 |  |  | $ | 80,355 |  |  | $ | 118,184 |
Depreciation and amortization |  | $ | 4,027 |  |  | $ | 3,820 |  |  | $ | 4,163 |
Income before taxes |  | $ | 4,502 |  |  | $ | 3,284 |  |  | $ | 28,045 |
|  | Year Ended December 31, |
Asia-Pacific |  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (In thousands) |
Revenues |  |  |  |  |  |  |  |  |
Products |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 23,531 |  |  | $ | 27,897 |  |  | $ | 44,908 |
Over Time |  |  | 8,708 |  |  |  | 23,548 |  |  |  | 10,247 |
Total Products |  |  | 32,239 |  |  |  | 51,445 |  |  |  | 55,155 |
Services |  |  |  |  |  |  |  |  |
Technical Advisory |  |  | 16,824 |  |  |  | 12,372 |  |  |  | 9,369 |
Reconditioning |  |  | 1,371 |  |  |  | 3,337 |  |  |  | 1,445 |
Total Services (excluding Leasing) |  |  | 18,195 |  |  |  | 15,709 |  |  |  | 10,814 |
Leasing |  |  | 8,128 |  |  |  | 4,504 |  |  |  | 4,956 |
Total Services (including Leasing) |  |  | 26,323 |  |  |  | 20,213 |  |  |  | 15,770 |
Intercompany |  |  | 9,047 |  |  |  | 13,084 |  |  |  | 5,792 |
Total |  | $ | 67,609 |  |  | $ | 84,742 |  |  | $ | 76,717 |
Depreciation and amortization |  | $ | 4,777 |  |  | $ | 5,126 |  |  | $ | 5,038 |
Income before taxes |  | $ | 4,860 |  |  | $ | 5,921 |  |  | $ | 27,302 |
Corporate |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 3,688 |  |  | $ | 3,727 |  |  | $ | 3,082 |
Loss before taxes |  | $ | (102,379 | ) |  | $ | (74,321 | ) |  | $ | (64,800 | )
Consolidated |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |
Products |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 143,770 |  |  | $ | 137,521 |  |  | $ | 218,330 |
Over Time |  |  | 69,990 |  |  |  | 121,313 |  |  |  | 84,949 |
Total Products |  |  | 213,760 |  |  |  | 258,834 |  |  |  | 303,279 |
Services |  |  |  |  |  |  |  |  |
Technical Advisory |  |  | 61,641 |  |  |  | 55,292 |  |  |  | 56,431 |
Reconditioning |  |  | 12,502 |  |  |  | 20,285 |  |  |  | 15,587 |
Total Services (excluding Leasing) |  |  | 74,143 |  |  |  | 75,577 |  |  |  | 72,018 |
Leasing |  |  | 35,042 |  |  |  | 30,562 |  |  |  | 39,509 |
Total Services (including Leasing) |  |  | 109,185 |  |  |  | 106,139 |  |  |  | 111,527 |
Intercompany |  |  | 25,187 |  |  |  | 28,474 |  |  |  | 19,915 |
Eliminations |  |  | (25,187 | ) |  |  | (28,474 | ) |  |  | (19,915 | )
Total |  | $ | 322,945 |  |  | $ | 364,973 |  |  | $ | 414,806 |
Depreciation and amortization |  | $ | 30,381 |  |  | $ | 32,389 |  |  | $ | 34,020 |
Income (loss) before taxes |  | $ | (125,050 | ) |  | $ | (62,049 | ) |  | $ | 10,429 |
|  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Total long-lived assets: |  |  |  |  |  |
Western Hemisphere |  | $ | 335,760 |  |  | $ | 350,577 |
Eastern Hemisphere |  |  | 224,345 |  |  |  | 222,741 |
Asia-Pacific |  |  | 58,308 |  |  |  | 68,600 |
Eliminations |  |  | (353,536 | ) |  |  | (353,939 | )
Total |  | $ | 264,877 |  |  | $ | 287,979 |
Total assets: |  |  |  |  |  |
Western Hemisphere |  | $ | 686,361 |  |  | $ | 769,649 |
Eastern Hemisphere |  |  | 805,574 |  |  |  | 779,147 |
Asia-Pacific |  |  | 184,097 |  |  |  | 186,808 |
Eliminations |  |  | (665,606 | ) |  |  | (584,432 | )
Total |  | $ | 1,010,426 |  |  | $ | 1,151,172 |
During 2021, we recorded inventory write-downs of approximately $66.9 million. Out of these, $44.2 million was recorded in the Western Hemisphere, $13.0 million in the Asia-Pacific region and $9.7 million in the Eastern Hemisphere. Additionally, we wrote-down approximately $4.2 million of our long-lived assets in the Asia-Pacific region. During 2020, we wrote down $25.5 million related to inventory and long-lived assets balances, with $22.3 million recorded in the Eastern Hemisphere and $3.2 million in the Western Hemisphere. We also recorded a full impairment of our goodwill balance of $7.7 million during the first quarter of 2020, all of which was in the Eastern Hemisphere. The Company’s operations are organized into three geographic segments—Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia-Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services, and the Company has manufacturing facilities in all three of its regional headquarter locations as well as in Macae, Brazil. Eliminations of operating profits are related to intercompany inventory transfers that are deferred until shipment is made to third party customers.

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration