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Industry Segments | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Industry Segments | INDUSTRY SEGMENTS Following the transactions closed during the three month period ended March 31, 2018, we reorganized our reporting segments and now manage our operations through three Divisions: Completion Fluids & Products, Water & Flowback Services, and Compression. Our Completion Fluids & Products Division was previously reported as our Fluids Division, and included our water management services operations. Following the acquisition of SwiftWater in February 2018, our expanded water management operations are now included with our production testing operations as part of our Water & Flowback Services Division. The operations of our previous Offshore Division, consisting of our previous Offshore Services and Maritech segments, are now reported as discontinued operations following their disposal in March 2018. Our Completion Fluids & Products Division manufactures and markets clear brine fluids ("CBF"), additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States and in certain countries in Latin America, Europe, Asia, the Middle East, and Africa. The division also markets liquid and dry calcium chloride products manufactured at its production facilities or purchased from third-party suppliers to a variety of markets outside the energy industry. Our Water & Flowback Services Division provides domestic onshore oil and gas operators with comprehensive water management services. The division also provides frac flowback, production well testing, offshore rig cooling, and other associated services in many of the major oil and gas producing regions in the United States, Mexico, and Canada, as well as in basins in certain regions in South America, Africa, Europe, the Middle East, and Australia. The Compression Division is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. The Compression Division's equipment sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages, and oilfield pump systems designed and fabricated at the division's facilities. The Compression Division's aftermarket services business provides compressor package reconfiguration and maintenance services as well as providing compressor package parts and components manufactured by third-party suppliers. The Compression Division provides its services and equipment to a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States as well as in a number of foreign countries, including Mexico, Canada, and Argentina. We generally evaluate the performance of and allocate resources to our segments based on profit or loss from their operations before income taxes and nonrecurring charges, return on investment, and other criteria. Transfers between segments and geographic areas are priced at the estimated fair value of the products or services as negotiated between the operating units. “Corporate Overhead” includes corporate general and administrative expenses, corporate depreciation and amortization, interest income and expense, and other income and expense. Summarized financial information concerning the business segments is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In Thousands)
Revenues from external customers |  |  |  |  |  |  |  |  |  |  |
Product sales |  |  |  |  |  |  |  |  |
Completion Fluids & Products Division | $ | 58,050 |  |  | $ | 58,049 |  |  | $ | 181,394 |  |  | $ | 177,568 |
Water & Flowback Services Division | 941 |  |  | 143 |  |  | 1,617 |  |  | 6,401 |
Compression Division | 43,079 |  |  | 14,374 |  |  | 102,125 |  |  | 42,755 |
Consolidated | $ | 102,070 |  |  | $ | 72,566 |  |  | $ | 285,136 |  |  | $ | 226,724 |
Services |  |  |  |  |  |  |  |  |
Completion Fluids & Products Division | $ | 5,027 |  |  | $ | 13,262 |  |  | $ | 11,344 |  |  | $ | 23,965 |
Water & Flowback Services Division | 77,572 |  |  | 40,612 |  |  | 221,342 |  |  | 102,601 |
Compression Division | 72,182 |  |  | 57,237 |  |  | 198,482 |  |  | 169,727 |
Consolidated | $ | 154,781 |  |  | $ | 111,111 |  |  | $ | 431,168 |  |  | $ | 296,293 |
Interdivision revenues |  |  |  |  |  |  |  |  |
Completion Fluids & Products Division | $ | (4 | ) |  | $ | 12 |  |  | $ | (5 | ) |  | $ | 13 |
Water & Flowback Services Division | 55 |  |  | 293 |  |  | 330 |  |  | 1,311 |
Compression Division | — |  |  | — |  |  | — |  |  | — |
Interdivision eliminations | (51 | ) |  | (305 | ) |  | (325 | ) |  | (1,324 | )
Consolidated | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total revenues |  |  |  |  |  |  |  |  |
Completion Fluids & Products Division | $ | 63,073 |  |  | $ | 71,323 |  |  | $ | 192,733 |  |  | $ | 201,546 |
Water & Flowback Services Division | 78,568 |  |  | 41,048 |  |  | 223,289 |  |  | 110,313 |
Compression Division | 115,261 |  |  | 71,611 |  |  | 300,607 |  |  | 212,482 |
Interdivision eliminations | (51 | ) |  | (305 | ) |  | (325 | ) |  | (1,324 | )
Consolidated | $ | 256,851 |  |  | $ | 183,677 |  |  | $ | 716,304 |  |  | $ | 523,017 |
Income (loss) before taxes |  |  |  |  |  |  |  |  |
Completion Fluids & Products Division | $ | 8,713 |  |  | $ | 21,398 |  |  | $ | 21,143 |  |  | $ | 57,486 |
Water & Flowback Services Division | 5,809 |  |  | 2,088 |  |  | 20,668 |  |  | (3,098 | )
Compression Division | (7,844 | ) |  | (7,014 | ) |  | (30,517 | ) |  | (27,527 | )
Interdivision eliminations | 5 |  |  | — |  |  | 9 |  |  | (161 | )
Corporate Overhead(1) | (19,631 | ) |  | (16,551 | ) |  | (53,870 | ) |  | (35,592 | )
Consolidated | $ | (12,948 | ) |  | $ | (79 | ) |  | $ | (42,567 | ) |  | $ | (8,892 | )
| September 30, 2018 |  | December 31, 2017
| (In Thousands)
Total assets |  |  |  |  |
Completion Fluids & Products Division | $ | 306,752 |  |  | $ | 293,507 |
Water & Flowback Services Division | 221,762 |  |  | 139,771 |
Compression Division | 886,737 |  |  | 784,745 |
Corporate Overhead and eliminations | (24,313 | ) |  | (30,543 | )
Assets of discontinued operations | 1,301 |  |  | 121,134 |
Consolidated | $ | 1,392,239 |  |  | $ | 1,308,614 |
(1) | Amounts reflected include the following general corporate expenses:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In Thousands)
General and administrative expense | $ | 13,037 |  |  | $ | 12,277 |  |  | $ | 37,506 |  |  | $ | 33,883 |
Depreciation and amortization | 172 |  |  | 129 |  |  | 487 |  |  | 338 |
Interest expense | 5,268 |  |  | 3,899 |  |  | 14,152 |  |  | 11,913 |
Warrants fair value adjustment (income) expense | (179 | ) |  | (47 | ) |  | 22 |  |  | (11,568 | )
Other general corporate (income) expense, net | 1,333 |  |  | 293 |  |  | 1,703 |  |  | 1,026 |
Total | $ | 19,631 |  |  | $ | 16,551 |  |  | $ | 53,870 |  |  | $ | 35,592 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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