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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 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 and six months ended June 30, 2017 and 2016 (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Drilling Technologies |  |  |  |  |  |  |
Revenue | $ | 4,737 |  |  | $ | 6,372 |  |  | $ | 11,534 |  |  | $ | 12,829 |
Cost of revenue | (2,603 | ) |  | (4,155 | ) |  | (7,259 | ) |  | (9,587 | )
Selling, general and administrative | (2,740 | ) |  | (3,495 | ) |  | (5,771 | ) |  | (8,155 | )
Depreciation and amortization | — |  |  | (337 | ) |  | — |  |  | (1,085 | )
Research and development | (6 | ) |  | (22 | ) |  | (6 | ) |  | (65 | )
Gain (loss) on disposal of long-lived assets | (12 | ) |  | 19 |  |  | 62 |  |  | 16 |
Impairment of inventory and long-lived assets | — |  |  | — |  |  | — |  |  | (36,522 | )
Loss from operations | (624 | ) |  | (1,618 | ) |  | (1,440 | ) |  | (42,569 | )
Other expense | (46 | ) |  | (69 | ) |  | (117 | ) |  | (243 | )
Loss on sale of businesses | (1,365 | ) |  | — |  |  | (1,365 | ) |  | — |
Loss on write-down of assets held for sale | (272 | ) |  | — |  |  | (6,831 | ) |  | — |
Loss before income taxes | (2,307 | ) |  | (1,687 | ) |  | (9,753 | ) |  | (42,812 | )
Income tax benefit | 158 |  |  | 456 |  |  | 3,147 |  |  | 14,881 |
Net loss from discontinued operations | $ | (2,149 | ) |  | $ | (1,231 | ) |  | $ | (6,606 | ) |  | $ | (27,931 | )
Production Technologies |  |  |  |  |  |  |
Revenue | $ | 849 |  |  | $ | 1,868 |  |  | $ | 4,002 |  |  | $ | 3,889 |
Cost of revenue | (707 | ) |  | (1,882 | ) |  | (3,189 | ) |  | (3,793 | )
Selling, general and administrative | (802 | ) |  | (897 | ) |  | (1,675 | ) |  | (2,051 | )
Depreciation and amortization | — |  |  | (149 | ) |  | — |  |  | (298 | )
Research and development | (92 | ) |  | (201 | ) |  | (363 | ) |  | (467 | )
Loss on disposal of long-lived assets | — |  |  | — |  |  | — |  |  | (59 | )
Impairment of inventory | — |  |  | — |  |  | — |  |  | (3,913 | )
Loss from operations | (752 | ) |  | (1,261 | ) |  | (1,225 | ) |  | (6,692 | )
Other expense | (16 | ) |  | (23 | ) |  | (52 | ) |  | (44 | )
Gain on sale of businesses | 171 |  |  | — |  |  | 171 |  |  | — |
Loss on write-down of assets held for sale | — |  |  | — |  |  | (9,718 | ) |  | — |
Loss before income taxes | (597 | ) |  | (1,284 | ) |  | (10,824 | ) |  | (6,736 | )
Income tax benefit | 42 |  |  | 346 |  |  | 3,493 |  |  | 2,342 |
Net loss from discontinued operations | $ | (555 | ) |  | $ | (938 | ) |  | $ | (7,331 | ) |  | $ | (4,394 | )
Drilling Technologies and Production Technologies |  |  |  |  |  |  |
Loss from discontinued operations, net of tax | $ | (2,704 | ) |  | $ | (2,169 | ) |  | $ | (13,937 | ) |  | $ | (32,325 | )
The assets and liabilities held for sale on the Consolidated Balance Sheets as of June 30, 2017 and December 31, 2016 are as follows (in thousands):
| Drilling Technologies |  | Production Technologies
| June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Assets: |  |  |  |  |  |  |
Accounts receivable, net | $ | 2,448 |  |  | $ | 5,072 |  |  | $ | 539 |  |  | $ | 1,784 |
Inventories | 1,942 |  |  | 9,078 |  |  | — |  |  | 8,115 |
Other current assets | 1,595 |  |  | 278 |  |  | 697 |  |  | 370 |
Long-term receivable | — |  |  | — |  |  | — |  |  | 4,179 |
Property and equipment, net | 880 |  |  | 11,277 |  |  | — |  |  | 3,978 |
Goodwill | — |  |  | 15,333 |  |  | — |  |  | 1,689 |
Other intangible assets, net | — |  |  | 7,395 |  |  | — |  |  | 484 |
Assets held for sale | 6,865 |  |  | 48,433 |  |  | 1,236 |  |  | 20,599 |
Valuation allowance | (904 | ) |  | (18,971 | ) |  | — |  |  | (6,161 | )
Assets held for sale, net | $ | 5,961 |  |  | $ | 29,462 |  |  | $ | 1,236 |  |  | $ | 14,438 |
Liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 388 |  |  | $ | 2,472 |  |  | $ | 40 |  |  | $ | 914 |
Accrued liabilities | 1,607 |  |  | 1,190 |  |  | 381 |  |  | 385 |
Liabilities held for sale | $ | 1,995 |  |  | $ | 3,662 |  |  | $ | 421 |  |  | $ | 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=84176398&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=84176398&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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