XML 43 R34.htm IDEA: XBRL DOCUMENT
v3.23.3

BUSINESS SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
BUSINESS SEGMENT INFORMATION |
Schedule of operating segment revenues by major service lines | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
Technical Services: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Pressure Pumping | ​ | $ | 110,622 | ​ | $ | 257,933 | ​ | $ | 585,243 | ​ | $ | 572,472 | ​
Downhole Tools |  | ​ | 96,261 |  | ​ | 102,831 | ​ | ​ | 305,254 |  | ​ | 273,828 | ​
Coiled Tubing |  | ​ | 36,820 |  | ​ | 37,407 | ​ | ​ | 115,241 |  | ​ | 100,572 | ​
Cementing | ​ | ​ | 26,731 | ​ | ​ | 6,489 | ​ | ​ | 38,995 | ​ | ​ | 15,429 | ​
Nitrogen |  | ​ | 12,211 |  | ​ | 10,335 | ​ | ​ | 37,027 |  | ​ | 28,727 | ​
Snubbing |  | ​ | 5,669 |  | ​ | 7,100 | ​ | ​ | 20,432 |  | ​ | 20,337 | ​
All other |  | ​ | 14,755 |  | ​ | 13,680 | ​ | ​ | 42,886 |  | ​ | 46,862 | ​
Total Technical Services | ​ | $ | 303,069 | ​ | $ | 435,775 | ​ | $ | 1,145,078 | ​ | $ | 1,058,227 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Support Services: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Rental Tools | ​ | $ | 20,119 | ​ | $ | 17,880 | ​ | $ | 56,129 | ​ | $ | 45,257 | ​
All other | ​ |  | 7,229 | ​ |  | 5,946 | ​ |  | 21,736 | ​ |  | 16,248 | ​
Total Support Services | ​ | $ | 27,348 | ​ | $ | 23,826 | ​ | $ | 77,865 | ​ | $ | 61,505 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 330,417 | ​ | $ | 459,601 | ​ | $ | 1,222,943 | ​ | $ | 1,119,732 | ​
Schedule of revenue by geographical location | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended |  | Nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
United States revenues | ​ | $ | 323,159 | ​ | $ | 450,359 | ​ | $ | 1,201,977 | ​ | $ | 1,094,528 | ​
International revenues |  | ​ | 7,258 |  | ​ | 9,242 | ​ | ​ | 20,966 |  | ​ | 25,204 | ​
Total revenues | ​ | $ | 330,417 | ​ | $ | 459,601 | ​ | $ | 1,222,943 | ​ | $ | 1,119,732 | ​
Schedule of segment reporting information by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended
​ | ​ | September 30, | ​ | September 30,
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Technical Services | ​ | $ | 303,069 | ​ | $ | 435,775 | ​ | $ | 1,145,078 | ​ | $ | 1,058,227
Support Services | ​ |  | 27,348 | ​ |  | 23,826 | ​ |  | 77,865 | ​ |  | 61,505
Total revenues | ​ | $ | 330,417 | ​ | $ | 459,601 | ​ | $ | 1,222,943 | ​ | $ | 1,119,732
Operating income: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Technical Services | ​ | $ | 18,912 | ​ | $ | 89,455 | ​ | $ | 199,462 | ​ | $ | 171,093
Support Services | ​ |  | 6,861 | ​ |  | 5,278 | ​ |  | 21,425 | ​ |  | 11,392
Corporate expenses | ​ |  | (4,840) | ​ |  | (4,106) | ​ |  | (14,593) | ​ |  | (13,160)
Pension settlement charges | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (18,286) | ​ | ​ | —
Gain on disposition of assets, net | ​ |  | 1,778 | ​ |  | 1,543 | ​ |  | 7,729 | ​ |  | 6,295
Total operating income | ​ | $ | 22,711 | ​ | $ | 92,170 | ​ | $ | 195,737 | ​ | $ | 175,620
Interest expense | ​ |  | (101) | ​ |  | (143) | ​ |  | (246) | ​ |  | (543)
Interest income | ​ |  | 1,450 | ​ |  | 329 | ​ |  | 6,003 | ​ |  | 472
Other income (expense), net | ​ |  | 804 | ​ |  | (67) | ​ |  | 2,196 | ​ |  | 516
Income before income taxes | ​ | $ | 24,864 | ​ | $ | 92,289 | ​ | $ | 203,690 | ​ | $ | 176,065
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of and for the nine months ended | ​ | Technical | ​ | Support | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2023 |  | Services |  | Services |  | Corporate |  | Total
(in thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Depreciation and amortization | ​ | $ | 71,175 | ​ | $ | 7,503 | ​ | $ | 38 | ​ | $ | 78,716
Capital expenditures | ​ |  | 136,237 | ​ |  | 9,159 | ​ |  | 3,420 | ​ |  | 148,816
Identifiable assets | ​ | ​ | 873,819 | ​ | ​ | 84,156 | ​ | ​ | 289,398 | ​ | ​ | 1,247,373
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of and for the nine months ended | ​ | Technical | ​ | Support | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2022 |  | Services |  | Services |  | Corporate |  | Total
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 53,002 | ​ | $ | 7,346 | ​ | $ | 153 | ​ | $ | 60,501
Capital expenditures | ​ |  | 79,828 | ​ |  | 9,558 | ​ |  | 841 | ​ |  | 90,227
Identifiable assets | ​ | ​ | 836,310 | ​ | ​ | 79,546 | ​ | ​ | 139,727 | ​ | ​ | 1,055,583
​

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph a -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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