Business segments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2013			2012			2011
Net sales:
Drilling & Subsea	$	940,807		$	826,500		$	659,430
Production & Infrastructure	585,495			589,204			468,701
Intersegment eliminations	(1,491		)	(771		)	—
Total net sales	$	1,524,811		$	1,414,933		$	1,128,131

Operating income:
Drilling & Subsea	$	155,828		$	161,160		$	117,927
Production & Infrastructure	86,471			97,257			77,997
Corporate	(29,431		)	(20,628		)	(20,237		)
Total segment operating income	212,868			237,789			175,687
Intangible asset impairment	—			1,161			—
Contingent consideration	—			(4,568		)	12,100
Transaction expenses	2,700			1,751			3,608
(Gain)/loss on sale of assets	614			(1,435		)	(634		)
Income from operations	$	209,554		$	240,880		$	160,613

Depreciation and amortization
Drilling & Subsea	$	43,971		$	37,737		$	30,853
Production & Infrastructure	13,952			13,163			9,845
Corporate	2,656			904			77
Total depreciation and amortization	$	60,579		$	51,804		$	40,775

Capital expenditures
Drilling & Subsea	$	40,991		$	31,118		$	22,774
Production & Infrastructure	10,940			13,644			13,621
Corporate	8,332			4,923			4,768
Total capital expenditures	$	60,263		$	49,685		$	41,163

A summary of consolidated assets by reportable segment is as follows (in thousands):



	As of December 31,
	2013		2012		2011
Assets
Drilling & Subsea	$	1,655,355	$	1,413,944	$	1,193,128
Production & Infrastructure	468,520		435,496		388,570
Corporate	44,994		43,540		25,617
Total assets	$	2,168,869	$	1,892,980	$	1,607,315

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

by shipping destination and long-lived assets by country were as follows (in thousands):



	Year ended December 31,
Net sales:	2013				2012				2011
	$		%		$		%		$		%
United States	$	918,795	60.2	%	$	894,969	63.3	%	$	707,092	62.7	%
Europe & Africa	225,381		14.8	%	196,841		13.9	%	162,694		14.4	%
Canada	99,081		6.5	%	114,197		8.1	%	102,916		9.1	%
Asia-Pacific	151,790		10.0	%	100,938		7.1	%	89,323		7.9	%
Latin America	64,040		4.2	%	58,420		4.1	%	32,788		2.9	%
Middle East	65,724		4.3	%	49,568		3.5	%	33,318		3.0	%
Total net sales	$	1,524,811	100.0	%	$	1,414,933	100.0	%	$	1,128,131	100.0	%



	As of December 31,
Long-lived assets:	2013		2012		2011
United States	$	970,109	$	849,470	$	726,098
Europe & Africa	346,017		224,093		219,195
Canada	28,839		31,956		30,582
Asia-Pacific	9,465		7,512		7,495
Middle East	3,182		3,159		3,199
Latin America	1,789		1,913		2,160
Total long-lived assets	$	1,359,401	$	1,118,103	$	988,729

Revenue from External Customers by Products and Services

by product lines were as follows (in thousands):



	Year ended December 31,
Net sales:	2013					2012					2011
	$			%		$			%		$		%
Drilling Technologies	$	462,420		30.3	%	$	434,240		30.7	%	$	372,046	33.0	%
Subsea Technologies	316,418			20.8	%	250,554			17.7	%	220,944		19.6	%
Downhole Technologies	161,970			10.6	%	141,706			10.0	%	66,440		5.9	%
Production Equipment	251,428			16.5	%	227,286			16.1	%	178,110		15.8	%
Valve Solutions	211,170			13.8	%	210,608			14.9	%	173,836		15.4	%
Flow Equipment	122,896			8.1	%	151,310			10.7	%	116,755		10.3	%
Eliminations	(1,491		)	(0.1	)%	(771		)	(0.1	)%	—		—	%
Total net sales	$	1,524,811		100.0	%	$	1,414,933		100.0	%	$	1,128,131	100.0	%

- 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.

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