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Segments and Related Information | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Segments and Related Information | Segments and Related Information The Company operates through three operating segments: Offshore/Manufactured Products, Well Site Services and Downhole Technologies. Financial information by operating segment for the three and nine months ended September 30, 2022 and 2021 is summarized in the following tables (in thousands).
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(1) | $ | 96,037 |  |  | $ | 5,072 |  |  | $ | 13,373 |  |  | $ | 1,620 |  |  | $ | 540,940 |
Well Site Services | 60,509 |  |  | 6,732 |  |  | 2,359 |  |  | 4,894 |  |  | 205,018 |
Downhole Technologies | 32,848 |  |  | 4,442 |  |  | (342) |  |  | 273 |  |  | 257,676 |
Corporate | — |  |  | 167 |  |  | (10,332) |  |  | 23 |  |  | 46,736 |
Total | $ | 189,394 |  |  | $ | 16,413 |  |  | $ | 5,058 |  |  | $ | 6,810 |  |  | $ | 1,050,370 |
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended September 30, 2021 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products | $ | 69,003 |  |  | $ | 5,662 |  |  | $ | 1,764 |  |  | $ | 677 |  |  | $ | 525,894 |
Well Site Services | 45,998 |  |  | 9,531 |  |  | (5,250) |  |  | 2,203 |  |  | 210,601 |
Downhole Technologies(2) | 25,527 |  |  | 4,226 |  |  | (5,035) |  |  | 378 |  |  | 275,095 |
Corporate | — |  |  | 238 |  |  | (7,618) |  |  | 408 |  |  | 80,309 |
Total | $ | 140,528 |  |  | $ | 19,657 |  |  | $ | (16,139) |  |  | $ | 3,666 |  |  | $ | 1,091,899 |
________________ (1)Operating income included a $6.1 million gain on settlement of outstanding litigation against certain service providers. (2)Operating loss included a non-cash inventory impairment charge of $2.1 million.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(1) | $ | 276,616 |  |  | $ | 15,651 |  |  | $ | 33,010 |  |  | $ | 3,093 |  |  | $ | 540,940 |
Well Site Services | 163,500 |  |  | 22,059 |  |  | (435) |  |  | 9,360 |  |  | 205,018 |
Downhole Technologies | 95,156 |  |  | 13,249 |  |  | (3,332) |  |  | 657 |  |  | 257,676 |
Corporate | — |  |  | 510 |  |  | (29,611) |  |  | 153 |  |  | 46,736 |
Total | $ | 535,272 |  |  | $ | 51,469 |  |  | $ | (368) |  |  | $ | 13,263 |  |  | $ | 1,050,370 |
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Nine Months Ended September 30, 2021 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products | $ | 206,520 |  |  | $ | 16,688 |  |  | $ | 7,645 |  |  | $ | 1,932 |  |  | $ | 525,894 |
Well Site Services(2) | 127,604 |  |  | 31,641 |  |  | (26,693) |  |  | 7,410 |  |  | 210,601 |
Downhole Technologies(3) | 77,717 |  |  | 13,136 |  |  | (8,945) |  |  | 658 |  |  | 275,095 |
Corporate | — |  |  | 621 |  |  | (25,526) |  |  | 977 |  |  | 80,309 |
Total | $ | 411,841 |  |  | $ | 62,086 |  |  | $ | (53,519) |  |  | $ | 10,977 |  |  | $ | 1,091,899 |
________________ (1)Operating income included a $6.1 million gain on settlement of outstanding litigation against certain service providers. (2)Operating loss included non-cash fixed and lease asset impairment charges of $3.4 million. (3)Operating loss included a non-cash inventory impairment charge of $2.1 million. See Note 3, "Asset Impairments and Other Charges and Benefits," and Note 4, "Details of Selected Balance Sheet Accounts," for further discussion of these and other charges and benefits recognized in first nine months of 2022 and 2021. The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and nine months ended September 30, 2022 and 2021 (in thousands):
| Offshore/Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Three Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Major revenue categories - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven products | $ | 38,911 |  |  | $ | 25,294 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38,911 |  |  | $ | 25,294 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Completion products and services | 15,036 |  |  | 11,544 |  |  | 53,928 |  |  | 42,714 |  |  | 32,848 |  |  | 25,527 |  |  | 101,812 |  |  | 79,785 |
Drilling services | — |  |  | — |  |  | 6,581 |  |  | 3,284 |  |  | — |  |  | — |  |  | 6,581 |  |  | 3,284 |
Other products | 8,674 |  |  | 7,138 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,674 |  |  | 7,138 |
Total short-cycle | 23,710 |  |  | 18,682 |  |  | 60,509 |  |  | 45,998 |  |  | 32,848 |  |  | 25,527 |  |  | 117,067 |  |  | 90,207 |
Other products and services | 33,416 |  |  | 25,027 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 33,416 |  |  | 25,027 |
| $ | 96,037 |  |  | $ | 69,003 |  |  | $ | 60,509 |  |  | $ | 45,998 |  |  | $ | 32,848 |  |  | $ | 25,527 |  |  | $ | 189,394 |  |  | $ | 140,528 |
| Offshore/Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Nine Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Major revenue categories - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven products | $ | 113,853 |  |  | $ | 78,494 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 113,853 |  |  | $ | 78,494 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Completion products and services | 43,893 |  |  | 30,105 |  |  | 149,845 |  |  | 120,596 |  |  | 95,156 |  |  | 77,717 |  |  | 288,894 |  |  | 228,418 |
Drilling services | — |  |  | — |  |  | 13,655 |  |  | 7,008 |  |  | — |  |  | — |  |  | 13,655 |  |  | 7,008 |
Other products | 24,052 |  |  | 16,857 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,052 |  |  | 16,857 |
Total short-cycle | 67,945 |  |  | 46,962 |  |  | 163,500 |  |  | 127,604 |  |  | 95,156 |  |  | 77,717 |  |  | 326,601 |  |  | 252,283 |
Other products and services | 94,818 |  |  | 81,064 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 94,818 |  |  | 81,064 |
| $ | 276,616 |  |  | $ | 206,520 |  |  | $ | 163,500 |  |  | $ | 127,604 |  |  | $ | 95,156 |  |  | $ | 77,717 |  |  | $ | 535,272 |  |  | $ | 411,841 |
Revenues from products and services transferred to customers over time accounted for approximately 63% and 63% of consolidated revenues for the nine months ended September 30, 2022 and 2021, respectively. The balance of revenues for the respective periods relates to products and services transferred to customers at a point in time. As of September 30, 2022, the Company had $168.1 million of remaining backlog related to contracts with an original expected duration of greater than one year. Approximately 15% of this remaining backlog is expected to be recognized as revenue over the remaining three months of 2022, with an additional 50% recognized in 2023 and the balance thereafter.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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