XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.21.2

Segments and Related Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment for the three and six months ended June 30, 2021 and 2020 is summarized in the following tables (in thousands).
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products | $ | 76,908 |  |  | $ | 5,557 |  |  | $ | 4,810 |  |  | $ | 792 |  |  | $ | 526,842 |
Downhole Technologies | 26,760 |  |  | 4,521 |  |  | (2,295) |  |  | 197 |  |  | 279,324 |
Well Site Services(1) | 42,056 |  |  | 10,642 |  |  | (11,590) |  |  | 1,877 |  |  | 216,498 |
Corporate | — |  |  | 189 |  |  | (8,543) |  |  | 325 |  |  | 93,060 |
Total | $ | 145,724 |  |  | $ | 20,909 |  |  | $ | (17,618) |  |  | $ | 3,191 |  |  | $ | 1,115,724 |
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products | $ | 94,936 |  |  | $ | 5,476 |  |  | $ | 9,419 |  |  | $ | 457 |  |  | $ | 548,226 |
Downhole Technologies | 14,965 |  |  | 5,619 |  |  | (11,110) |  |  | 1,165 |  |  | 308,942 |
Well Site Services(2) | 36,344 |  |  | 13,368 |  |  | (22,920) |  |  | 1,923 |  |  | 270,803 |
Corporate | — |  |  | 183 |  |  | (8,723) |  |  | (511) |  |  | 118,912 |
Total | $ | 146,245 |  |  | $ | 24,646 |  |  | $ | (33,334) |  |  | $ | 3,034 |  |  | $ | 1,246,883 |
________________ (1)Operating loss included non-cash operating lease asset impairment charges of $2.8 million. (2)Operating loss included a non-cash fixed asset impairment charge of $3.0 million.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products | $ | 137,517 |  |  | $ | 11,026 |  |  | $ | 5,881 |  |  | $ | 1,255 |  |  | $ | 526,842 |
Downhole Technologies | 52,190 |  |  | 8,910 |  |  | (3,910) |  |  | 280 |  |  | 279,324 |
Well Site Services(1) | 81,606 |  |  | 22,110 |  |  | (21,443) |  |  | 5,207 |  |  | 216,498 |
Corporate | — |  |  | 383 |  |  | (17,908) |  |  | 569 |  |  | 93,060 |
Total | $ | 271,313 |  |  | $ | 42,429 |  |  | $ | (37,380) |  |  | $ | 7,311 |  |  | $ | 1,115,724 |
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(2) | $ | 186,108 |  |  | $ | 11,104 |  |  | $ | (86,077) |  |  | $ | 1,522 |  |  | $ | 548,226 |
Downhole Technologies(3) | 56,030 |  |  | 11,203 |  |  | (203,801) |  |  | 2,814 |  |  | 308,942 |
Well Site Services(4) | 123,801 |  |  | 28,404 |  |  | (167,874) |  |  | 4,975 |  |  | 270,803 |
Corporate | — |  |  | 344 |  |  | (17,384) |  |  | (396) |  |  | 118,912 |
Total | $ | 365,939 |  |  | $ | 51,055 |  |  | $ | (475,136) |  |  | $ | 8,915 |  |  | $ | 1,246,883 |
________________ (1)Operating loss included non-cash fixed and lease asset impairment charges of $3.4 million. (2)Operating loss included non-cash goodwill and inventory impairment charges of $86.5 million and $16.2 million, respectively. (3)Operating loss included a non-cash goodwill impairment charge of $192.5 million. (4)Operating loss included non-cash goodwill, inventory and fixed asset impairment charges of $127.1 million, $9.0 million and $8.2 million, respectively.
Supplemental Revenue Information by Segments | The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and six months ended June 30, 2021 and 2020 (in thousands):
| Offshore/Manufactured Products |  | Downhole Technologies |  | Well Site Services |  | Total
| 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020
Three months ended June 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Major revenue categories - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven products | $ | 31,826 |  |  | $ | 51,365 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 31,826 |  |  | $ | 51,365 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Completion products and services | 10,447 |  |  | 4,739 |  |  | 26,760 |  |  | 14,965 |  |  | 39,083 |  |  | 36,175 |  |  | 76,290 |  |  | 55,879 |
Drilling services | — |  |  | — |  |  | — |  |  | — |  |  | 2,973 |  |  | 169 |  |  | 2,973 |  |  | 169 |
Other products | 5,583 |  |  | 6,634 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,583 |  |  | 6,634 |
Total short-cycle | 16,030 |  |  | 11,373 |  |  | 26,760 |  |  | 14,965 |  |  | 42,056 |  |  | 36,344 |  |  | 84,846 |  |  | 62,682 |
Other products and services | 29,052 |  |  | 32,198 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 29,052 |  |  | 32,198 |
| $ | 76,908 |  |  | $ | 94,936 |  |  | $ | 26,760 |  |  | $ | 14,965 |  |  | $ | 42,056 |  |  | $ | 36,344 |  |  | $ | 145,724 |  |  | $ | 146,245 |
| Offshore/Manufactured Products |  | Downhole Technologies |  | Well Site Services |  | Total
| 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020
Six months ended June 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Major revenue categories - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven products | $ | 53,200 |  |  | $ | 88,153 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 53,200 |  |  | $ | 88,153 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Completion products and services | 18,561 |  |  | 18,416 |  |  | 52,190 |  |  | 56,030 |  |  | 77,882 |  |  | 119,101 |  |  | 148,633 |  |  | 193,547 |
Drilling services | — |  |  | — |  |  | — |  |  | — |  |  | 3,724 |  |  | 4,700 |  |  | 3,724 |  |  | 4,700 |
Other products | 9,719 |  |  | 15,054 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,719 |  |  | 15,054 |
Total short-cycle | 28,280 |  |  | 33,470 |  |  | 52,190 |  |  | 56,030 |  |  | 81,606 |  |  | 123,801 |  |  | 162,076 |  |  | 213,301 |
Other products and services | 56,037 |  |  | 64,485 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 56,037 |  |  | 64,485 |
| $ | 137,517 |  |  | $ | 186,108 |  |  | $ | 52,190 |  |  | $ | 56,030 |  |  | $ | 81,606 |  |  | $ | 123,801 |  |  | $ | 271,313 |  |  | $ | 365,939 |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration