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Segments and Related Information
 9 Months Ended
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).
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended September 30, 2022
Offshore/Manufactured Products(1)
$96,037 $5,072 $13,373 $1,620 $540,940 
Well Site Services60,509 6,732 2,359 4,894 205,018 
Downhole Technologies32,848 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 
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended September 30, 2021
Offshore/Manufactured Products$69,003 $5,662 $1,764 $677 $525,894 
Well Site Services45,998 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.
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Nine Months Ended September 30, 2022
Offshore/Manufactured Products(1)
$276,616 $15,651 $33,010 $3,093 $540,940 
Well Site Services163,500 22,059 (435)9,360 205,018 
Downhole Technologies95,156 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 
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal 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 ProductsWell Site ServicesDownhole TechnologiesTotal
20222021202220212022202120222021
Three Months Ended September 30
Major revenue categories -
Project-driven products$38,911 $25,294 $— $— $— $— $38,911 $25,294 
Short-cycle:
Completion products and services15,036 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 products8,674 7,138 — — — — 8,674 7,138 
Total short-cycle23,710 18,682 60,509 45,998 32,848 25,527 117,067 90,207 
Other products and services33,416 25,027 — — — — 33,416 25,027 
$96,037 $69,003 $60,509 $45,998 $32,848 $25,527 $189,394 $140,528 
Offshore/Manufactured ProductsWell Site ServicesDownhole TechnologiesTotal
20222021202220212022202120222021
Nine Months Ended September 30
Major revenue categories -
Project-driven products$113,853 $78,494 $— $— $— $— $113,853 $78,494 
Short-cycle:
Completion products and services43,893 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 products24,052 16,857 — — — — 24,052 16,857 
Total short-cycle67,945 46,962 163,500 127,604 95,156 77,717 326,601 252,283 
Other products and services94,818 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.