v2.4.0.8

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Inventory

		December 31,
		2013			2012
		(In thousands)
Raw materials		$	128,606		$	148,822
Work-in-progress			26,762			45,733
Finished goods			54,425			56,578
​	​	​	​	​	​	​	​
		$	209,793		$	251,133
​	​	​	​	​	​	​	​

Change in the carrying amount of goodwill for various contract drilling segments and other operating segments

		Balance at December 31, 2011			Acquisitions and Purchase Price Adjustments			Disposals and Impairments			Cumulative Translation Adjustment			Balance at December 31, 2012
		(In thousands)
Drilling & Rig Services:
U.S.		$	57,445		$	—		$	(7,296	)(1)	$	—		$	50,149
International			18,983			—			(18,983	)(1)		—			—
Rig Services			34,766			—			(3,035	)(2)		382			32,113
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Subtotal Drilling & Rig Services			111,194			—			(29,314	)		382			82,262
Completion & Production Services
Completion			334,992			—			—			—			334,992
Production			55,072			—			—			—			55,072
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Subtotal Completion & Production
Services			390,064			—			—			—			390,064
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total		$	501,258		$	—		$	(29,314	)	$	382		$	472,326
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

		Balance at December 31, 2012			Acquisitions and Purchase Price Adjustments			Disposals and Impairments			Cumulative Translation Adjustment			Balance at December 31, 2013
		(In thousands)
Drilling & Rig Services:
U.S.		$	50,149		$	—		$	—		$	—		$	50,149
Rig Services			32,113			15,828	(3)		(9,631	)(4)		(1,049	)		37,261
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Subtotal Drilling & Rig Services			82,262			15,828			(9,631	)		(1,049	)		87,410
Completion & Production Services
Completion			334,992						—			—			334,992
Production			55,072			35,490	(5)		—			—			90,562
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Subtotal Completion & Production
Services			390,064			35,490			—			—			425,554
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total		$	472,326		$	51,318		$	(9,631	)	$	(1,049	)	$	512,964
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

(1)

Represents the impairment of goodwill associated with our operations in our U.S. and International drilling operating segments. As of December 31, 2012, our International operating segment had no recorded goodwill.

(2)

Represents the removal of goodwill in connection with our sale of a subsidiary that provided trucking and logistics services.

(3)

Represents the goodwill recorded in connection with our acquisition of NES. See Note 6—Acquisitions for additional discussion.

(4)

Represents the removal of goodwill in connection with our sale of Peak and the logistic assets from one of our Canada subsidiaries.

(5)

Represents the goodwill recorded in connection with our acquisition of KVS. See Note 6—Acquisitions for additional discussion.

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