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Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Summary of financial information has been segregated from continuing operations | The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the three months ended March 31, 2017 and 2016 (in thousands):
| Three months ended March 31,
| 2017 |  | 2016
Drilling Technologies |  |  |
Revenue | $ | 6,797 |  |  | $ | 6,456 |
Cost of revenue | (4,655 | ) |  | (5,431 | )
Selling, general and administrative | (3,031 | ) |  | (4,665 | )
Depreciation and amortization | — |  |  | (748 | )
Research and development | — |  |  | (42 | )
Gain (loss) on disposal of long-lived assets | 73 |  |  | — |
Impairment of inventory and long-lived assets | — |  |  | (36,522 | )
Loss from operations | (816 | ) |  | (40,952 | )
Other expense | (71 | ) |  | (175 | )
Loss on write-down of assets held for sale | (6,560 | ) |  | — |
Loss before income taxes | (7,447 | ) |  | (41,127 | )
Income tax benefit | 2,713 |  |  | 14,499 |
Net loss from discontinued operations | $ | (4,734 | ) |  | $ | (26,628 | )
Production Technologies |  |  |
Revenue | $ | 3,153 |  |  | $ | 2,021 |
Cost of revenue | (2,483 | ) |  | (1,911 | )
Selling, general and administrative | (873 | ) |  | (1,211 | )
Depreciation and amortization | — |  |  | (148 | )
Research and development | (271 | ) |  | (267 | )
Impairment of inventory | — |  |  | (3,913 | )
Loss from operations | (474 | ) |  | (5,429 | )
Other expense | (36 | ) |  | (20 | )
Loss on write-down of assets held for sale | (9,717 | ) |  | — |
Loss before income taxes | (10,227 | ) |  | (5,449 | )
Income tax benefit | 3,726 |  |  | 1,921 |
Net loss from discontinued operations | $ | (6,501 | ) |  | $ | (3,528 | )
Drilling Technologies and Production Technologies |  |  |
Loss from discontinued operations, net of tax | $ | (11,235 | ) |  | $ | (30,156 | )
The assets and liabilities held for sale on the Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016 are as follows (in thousands):
| Drilling Technologies |  | Production Technologies
| March 31, 2017 |  | December 31, 2016 |  | March 31, 2017 |  | December 31, 2016
Assets: |  |  |  |  |  |  |
Accounts receivable, net | $ | 5,328 |  |  | $ | 5,072 |  |  | $ | 1,993 |  |  | $ | 1,784 |
Inventories | 9,059 |  |  | 9,078 |  |  | 7,768 |  |  | 8,115 |
Other current assets | 272 |  |  | 278 |  |  | 381 |  |  | 370 |
Long-term receivable | — |  |  | — |  |  | 4,179 |  |  | 4,179 |
Property and equipment, net | 11,352 |  |  | 11,277 |  |  | 4,059 |  |  | 3,978 |
Goodwill | 15,333 |  |  | 15,333 |  |  | 1,689 |  |  | 1,689 |
Other intangible assets, net | 7,398 |  |  | 7,395 |  |  | 489 |  |  | 484 |
Assets held for sale | 48,742 |  |  | 48,433 |  |  | 20,558 |  |  | 20,599 |
Valuation allowance | (25,531 | ) |  | (18,971 | ) |  | (15,878 | ) |  | (6,161 | )
Assets held for sale, net | $ | 23,211 |  |  | $ | 29,462 |  |  | $ | 4,680 |  |  | $ | 14,438 |
Liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 3,162 |  |  | $ | 2,472 |  |  | $ | 834 |  |  | $ | 914 |
Accrued liabilities | 464 |  |  | 1,190 |  |  | 178 |  |  | 385 |
Liabilities held for sale | $ | 3,626 |  |  | $ | 3,662 |  |  | $ | 1,012 |  |  | $ | 1,299 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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