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Business Segment and Entity Wide Disclosures | 12 Months Ended
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Dec. 31, 2020
Business Segment and Entity wide Disclosures |
Business Segment and Entity wide Disclosures | Note 15: Business Segment and Entity wide Disclosures RPC’s reportable segments are the same as its operating segments. RPC manages its business under Technical Services and Support Services. Technical Services is comprised of service lines that generate revenue based on equipment, personnel or materials at the well site and are closely aligned with completion and production activities of the customers. Support Services is comprised of service lines which generate revenue from services and equipment offered off the well site and are closely aligned with the customers’ drilling activities. Selected overhead including centralized support services and regulatory compliance are classified as Corporate. Technical Services consists primarily of pressure pumping, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline and fishing. The services offered under Technical Services are high capital and personnel intensive businesses. The Company considers all of these services to be closely integrated oil and gas well servicing businesses, and makes resource allocation and performance assessment decisions based on this operating segment as a whole across these various services. Support Services consist primarily of drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training and consulting services. The demand for these services tends to be influenced primarily by customer drilling-related activity levels. The Company’s Chief Operating Decision Maker (“CODM”) assesses performance and makes resource allocation decisions regarding, among others, staffing, growth and maintenance capital expenditures and key initiatives based on the operating segments outlined above. Segment Revenues: RPC’s operating segment revenues by major service lines are shown in the following table: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | 2020 | ​ | 2019 | ​ | 2018
Technical Services: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Pressure Pumping | ​ | $ | 221,597 | ​ | $ | 519,543 | ​ | $ | 945,919
Downhole Tools | ​ | ​ | 195,052 |  | ​ | 414,352 |  | ​ | 423,811
Coiled Tubing | ​ | ​ | 51,616 |  | ​ | 80,758 |  | ​ | 100,049
Nitrogen | ​ | ​ | 30,213 |  | ​ | 45,658 |  | ​ | 49,198
Snubbing | ​ | ​ | 8,016 |  | ​ | 14,520 |  | ​ | 17,818
All other | ​ | ​ | 49,994 |  | ​ | 70,723 |  | ​ | 110,418
Total Technical Services | ​ | $ | 556,488 | ​ | $ | 1,145,554 | ​ | $ | 1,647,213
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Support Services: | ​ |  |  | ​ |  |  | ​ |  |
Rental Tools | ​ | $ | 25,280 | ​ | $ | 51,792 | ​ | $ | 50,809
All other | ​ |  | 16,534 | ​ |  | 25,063 | ​ |  | 22,983
Total Support Services | ​ | $ | 41,814 | ​ | $ | 76,855 | ​ | $ | 73,792
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Revenues | ​ | $ | 598,302 | ​ | $ | 1,222,409 | ​ | $ | 1,721,005
​ The accounting policies of the reportable segments are the same as those described in Note 1 to these consolidated financial statements. RPC evaluates the performance of its segments based on revenues, operating profits and return on invested capital. Gains or losses on disposition of assets are reviewed by the CODM on a consolidated basis, and accordingly the Company does not report gains or losses at the segment level. Inter-segment revenues are generally recorded in segment operating results at prices that management believes approximate prices for arm’s length transactions and are not material to operating results. Summarized financial information concerning RPC’s reportable segments for the years ended December 31, 2020, 2019 and 2018 are shown in the following table: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | Gain on |  | Impairment |  |  | ​
​ | ​ | Technical | ​ | Support | ​ | ​ | ​ | disposition of | ​ | and other | ​ | ​
(in thousands) |  | Services |  | Services |  | Corporate |  | assets, net |  | charges |  | Total
2020 | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |
Revenues | ​ | $ | 556,488 | ​ | $ | 41,814 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 598,302
Operating (loss) profit | ​ | ​ | (82,525) | ​ | ​ | (6,714) | ​ | ​ | (12,426) | ​ | ​ | 9,523 | ​ | ​ | (217,493) | (1) | ​ | (309,635)
Capital expenditures | ​ | ​ | 54,327 | ​ | ​ | 10,224 | ​ | ​ | 514 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 65,065
Depreciation and amortization |  | ​ | 80,877 |  | ​ | 14,377 |  | ​ | 276 |  | ​ | — |  | ​ | — |  | ​ | 95,530
Identifiable assets |  | ​ | 499,764 |  | ​ | 64,457 |  | ​ | 226,284 |  | ​ | — |  | ​ | — |  | ​ | 790,505
2019 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ |  | ​ |
Revenues | ​ | $ | 1,145,554 | ​ | $ | 76,855 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,222,409
Operating (loss) profit | ​ |  | (32,993) | ​ | ​ | 10,016 | ​ | ​ | (12,745) | ​ | ​ | 3,707 | ​ | ​ | (82,273) | (2) | ​ | (114,288)
Capital expenditures | ​ |  | 237,950 | ​ | ​ | 10,330 | ​ | ​ | 2,349 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 250,629
Depreciation and amortization | ​ |  | 154,776 |  | ​ | 15,328 |  | ​ | 305 |  | ​ | — |  | ​ | — |  | ​ | 170,409
Identifiable assets | ​ |  | 848,264 |  | ​ | 72,351 |  | ​ | 132,603 |  | ​ | — |  | ​ | — |  | ​ | 1,053,218
2018 | ​ |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ |  | ​ |
Revenues | ​ | $ | 1,647,213 | ​ | $ | 73,792 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,721,005
Operating profit (loss) | ​ |  | 216,703 | ​ | ​ | 4,612 | ​ | ​ | (14,629) | ​ | ​ | 3,344 | ​ | ​ | — | ​ | ​ | 210,030
Capital expenditures | ​ |  | 230,262 | ​ | ​ | 10,364 | ​ | ​ | 1,984 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 242,610
Depreciation and amortization | ​ |  | 150,508 |  | ​ | 12,174 |  | ​ | 438 |  | ​ | — |  | ​ | — |  | ​ | 163,120
Identifiable assets | ​ |  | 925,305 |  | ​ | 78,413 |  | ​ | 195,862 |  | ​ | — |  | ​ | — |  | ​ | 1,199,580
​ (1)Represents $212,292 related to technical services, $4,660 related to pension settlement loss and the remainder related to corporate expenses. (2)Represents $80,263 related to technical services and $2,010 related to corporate expenses. The following summarizes revenues for the United States and separately for all international locations combined for the years ended December 31, 2020, 2019 and 2018. The revenues are presented based on the location of the use of the equipment or services. Assets related to international operations are less than 10 percent of RPC’s consolidated assets, and therefore are not presented. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years ended December 31, | ​ | 2020 |  | 2019 |  | 2018
(in thousands) | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
United States Revenues | ​ | $ | 562,390 | ​ | $ | 1,157,760 | ​ | $ | 1,630,569
International Revenues | ​ | ​ | 35,912 |  | ​ | 64,649 |  | ​ | 90,436
​ | ​ | $ | 598,302 | ​ | $ | 1,222,409 | ​ | $ | 1,721,005
​

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- 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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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
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