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Segment and Related Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Segment and Related Information | Segment and Related Information We operate our business through two reportable segments: Fluids Systems and Industrial Solutions. All intercompany revenues and related profits have been eliminated. Fluids Systems — Our Fluids Systems segment provides drilling, completion, and stimulation products and related technical services to customers primarily in North America and EMEA, as well as certain countries in Asia Pacific and Latin America. We offer customized solutions for complex subsurface conditions such as horizontal, directional, geologically deep, or drilling in deep water. These projects require high levels of monitoring and technical support of the fluids system during the drilling process. We also have industrial mineral grinding operations for barite, a critical raw material in fluids systems, which serve to support our activities in certain regions of the U.S. fluids market. We use the resulting products in our fluids systems and also sell the products to third party users, including other fluids companies. In addition, we sell a variety of other minerals, principally to third party industrial (non-oil and natural gas) markets. Industrial Solutions — Our Industrial Solutions segment provides temporary worksite access, including the rental of our manufactured recyclable composite matting systems, along with related site construction and services to customers in various markets including power transmission, E&P, pipeline, renewable energy, petrochemical, construction and other industries, primarily in the United States and Europe. We also sell our manufactured recyclable composite mats to customers around the world, with power transmission being the primary end-market. Summarized financial information concerning our reportable segments is shown in the following tables:
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Revenues |  |  |  |  |
Fluids Systems | $ | 420,789 |  |  | $ | 354,608 |  |  | $ | 620,317 |
Industrial Solutions | 193,992 |  |  | 138,017 |  |  | 199,802 |
Total revenues | $ | 614,781 |  |  | $ | 492,625 |  |  | $ | 820,119 |
Depreciation and amortization |  |  |  |  |
Fluids Systems | $ | 17,877 |  |  | $ | 20,555 |  |  | $ | 21,202 |
Industrial Solutions | 20,399 |  |  | 20,427 |  |  | 21,763 |
Corporate office | 3,949 |  |  | 4,332 |  |  | 4,179 |
Total depreciation and amortization | $ | 42,225 |  |  | $ | 45,314 |  |  | $ | 47,144 |
Operating income (loss) |  |  |  |  |
Fluids Systems | $ | (19,012) |  |  | $ | (66,403) |  |  | $ | 3,814 |
Industrial Solutions | 39,733 |  |  | 13,459 |  |  | 47,466 |
Corporate office | (29,546) |  |  | (25,690) |  |  | (40,885) |
Total operating income (loss) | $ | (8,825) |  |  | $ | (78,634) |  |  | $ | 10,395 |
Segment assets |  |  |  |  |
Fluids Systems | $ | 458,179 |  |  | $ | 419,381 |  |  | $ | 593,758 |
Industrial Solutions | 267,670 |  |  | 259,918 |  |  | 265,786 |
Corporate office | 27,037 |  |  | 29,893 |  |  | 40,535 |
Total segment assets | $ | 752,886 |  |  | $ | 709,192 |  |  | $ | 900,079 |
Capital expenditures |  |  |  |  |
Fluids Systems | $ | 3,644 |  |  | $ | 6,237 |  |  | $ | 18,416 |
Industrial Solutions | 17,402 |  |  | 7,831 |  |  | 23,535 |
Corporate office | 747 |  |  | 1,726 |  |  | 2,855 |
Total capital expenditures | $ | 21,793 |  |  | $ | 15,794 |  |  | $ | 44,806 |
In August 2021, Hurricane Ida negatively impacted our Gulf of Mexico operations, including damage to certain inventory, equipment and warehouse facilities, at our Fourchon, Louisiana Fluids Systems operating base. While this event is covered by our property and business interruption insurance programs, these programs contain self-insured retentions, which remain our financial obligations. During 2021, our Fluids Systems segment incurred hurricane-related costs of $5.5 million, which includes $2.5 million for inventory and property, plant and equipment, and $3.0 in property-related repairs, clean-up and other costs. Based on the provisions of our insurance policies and initial insurance claims filed, we estimated $2.9 million in expected recoveries and recognized a charge of $2.6 million for 2021 in other operating (income) loss, net, substantially all of which is our self-insured retention under our property insurance policy. The insurance receivable balance included in other receivables was $1.9 million as of December 31, 2021. As of December 31, 2021, the claims related to the hurricane under our property and business interruption insurance programs have not been finalized. Fluids Systems operating results for 2021 also includes $3.7 million of charges related to facility exit, severance, and other costs, as well as a $0.8 million gain related to the final insurance settlement associated with the July 2018 fire at our Kenedy, Texas drilling fluids facility. In March 2020, oil prices collapsed due to geopolitical events along with the worldwide effects of the COVID-19 pandemic, which led to a rapid decline in customer activity in the E&P industry. In response to these market changes, we initiated workforce reductions and other cost reduction programs in the first quarter of 2020 and continued these actions throughout 2020 and into 2021. As part of the cost reduction programs, we reduced our global employee base by approximately 650 (30%) in 2020. As a result of these workforce reductions, our operating results for 2020 included $4.3 million of total severance costs ($3.7 million in Fluids Systems and $0.6 million in the Corporate office), with $2.7 million in cost of revenues and $1.6 million in selling, general and administrative expenses. These costs were substantially paid as of December 31, 2020. For 2020, we recognized $29.2 million of total charges primarily related to our exit from Brazil, inventory write-downs, severance costs, and fixed asset impairments, with $28.6 million in the Fluids Systems segment and $0.6 million in the Corporate office. For 2019, we recognized $23.2 million of total charges primarily related to a non-cash impairment of goodwill and charges associated with facility closures and related exit costs, inventory write-downs, and severance costs, as well as the modification of our retirement policy, with $18.8 million in the Fluids Systems segment and $4.4 million in the Corporate office. See below for details of charges in the Fluids Systems segment.
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Fourchon, Louisiana hurricane-related costs | $ | 2,596 |  |  | $ | — |  |  | $ | — |
Facility exit costs and other | 2,399 |  |  | (201) |  |  | 2,631 |
Severance costs | 1,329 |  |  | 3,729 |  |  | 2,264 |
Kenedy, Texas facility fire (insurance recovery) | (849) |  |  | — |  |  | — |
Brazil exit - Recognition of cumulative foreign currency translation losses | — |  |  | 11,689 |  |  | — |
Inventory write-downs | — |  |  | 10,345 |  |  | 1,881 |
Property, plant and equipment impairment | — |  |  | 3,038 |  |  | — |
Goodwill impairment | — |  |  | — |  |  | 11,422 |
Modification of retirement policy | — |  |  | — |  |  | 605 |
Total Fluids Systems impairments and other charges | $ | 5,475 |  |  | $ | 28,600 |  |  | $ | 18,803 |
The following table presents further disaggregated revenues for the Fluids Systems segment:
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
United States | $ | 227,261 |  |  | $ | 202,052 |  |  | $ | 395,618 |
Canada | 48,007 |  |  | 24,762 |  |  | 31,635 |
Total North America | 275,268 |  |  | 226,814 |  |  | 427,253 |
EMEA | 132,221 |  |  | 115,891 |  |  | 172,263 |
Other | 13,300 |  |  | 11,903 |  |  | 20,801 |
Total International | 145,521 |  |  | 127,794 |  |  | 193,064 |
Total Fluids Systems revenues | $ | 420,789 |  |  | $ | 354,608 |  |  | $ | 620,317 |
The following table presents further disaggregated revenues for the Industrial Solutions segment:
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Product sales revenues | $ | 66,796 |  |  | $ | 29,170 |  |  | $ | 56,465 |
Rental revenues | 68,455 |  |  | 47,341 |  |  | 70,207 |
Service revenues | 49,920 |  |  | 53,958 |  |  | 73,130 |
Industrial blending revenues (1) | 8,821 |  |  | 7,548 |  |  | — |
Total Industrial Solutions revenues | $ | 193,992 |  |  | $ | 138,017 |  |  | $ | 199,802 |
(1) Industrial blending operations began in the second quarter of 2020 and ramped up in the third quarter of 2020. Results for the industrial blending component are presented in Industrial Solutions beginning October 2020. Results for the second quarter and third quarter of 2020 were reported in Fluids Systems and not adjusted as they were not material. The following table sets forth geographic information for all of our operations. Revenues by geographic location are determined based on the operating location from which services are rendered or products are sold. Long-lived assets include property, plant and equipment and other long-term assets based on the country in which the assets are located.
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Revenues |  |  |  |  |
United States | $ | 402,246 |  |  | $ | 327,598 |  |  | $ | 578,698 |
Canada | 48,007 |  |  | 24,762 |  |  | 37,496 |
EMEA | 151,228 |  |  | 128,362 |  |  | 183,124 |
Asia Pacific | 7,629 |  |  | 6,561 |  |  | 15,273 |
Latin America | 5,671 |  |  | 5,342 |  |  | 5,528 |
Total revenues | $ | 614,781 |  |  | $ | 492,625 |  |  | $ | 820,119 |
Long-lived assets |  |  |  |  |
United States | $ | 318,839 |  |  | $ | 329,719 |  |  | $ | 365,185 |
Canada | 1,209 |  |  | 1,503 |  |  | 2,129 |
EMEA | 38,923 |  |  | 44,577 |  |  | 46,447 |
Asia Pacific | 2,712 |  |  | 3,007 |  |  | 2,862 |
Latin America | 375 |  |  | 500 |  |  | 1,047 |
Total long-lived assets | $ | 362,058 |  |  | $ | 379,306 |  |  | $ | 417,670 |
For 2021, 2020 and 2019, no single customer accounted for more than 10% of our consolidated revenues.

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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=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
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