XML 25 R11.htm IDEA: XBRL DOCUMENT v3.6.0.2

Investment in unconsolidated subsidiary

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investment in unconsolidated subsidiary

Investment in unconsolidated subsidiary

Effective July 1, 2013, the Company jointly purchased Global Tubing, LLC ("Global Tubing") with an equal partner, with Global Tubing's management retaining a small interest. Global Tubing is a Dayton, Texas based provider of coiled tubing strings and related services. The Company's equity investment is reported in the Completions segment and is accounted for using the equity method of accounting. As Global Tubing's products are complementary to the Company’s well intervention and stimulation products and the investment's business is integral to the Company's operations, the earnings from the equity investment are included within operating income (loss).

Condensed financial data for the equity investment in the unconsolidated subsidiary is summarized as follows:

	December 31, 2016				December 31, 2015
Current assets	$	48,194			$	56,160
Long-term assets	142,682				145,965
Current liabilities	11,918				10,861
Long-term liabilities	80,500				95,000

	Year ended December 31,
	2016				2015
Net revenues	$	71,473			$	103,532
Gross profit	16,899				45,333
Net income	3,795				30,888
The Company's earnings from equity investment	1,824				14,824

Subsequent to December 31, 2016, the Company contributed $1.0 million to Global Tubing, LLC.

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569

+ Details

Name:	us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration