Equity Level 1 (Notes)

6 Months Ended

Jun. 30, 2011

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

EQUITY

During the three months ended June 30, 2011, we repurchased 23,409 of our common shares for $2.3 million. These shares were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants' tax burdens that may result from the issuance of common shares under that plan. During the six months ended June 30, 2011, we repurchased 574,174 of our common shares for $52.1 million. Included in this total were rights to 29,680 shares valued at $2.9 million that were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants' tax burdens that may result from the issuance of common shares under that plan. Such common shares, unless canceled, may be reissued for a variety of purposes such as future acquisitions, employee stock awards, exchange of the Notes, or settlement of outstanding warrants.

In February and May 2011, we paid a quarterly dividend of $0.25 per share of common stock.  In addition, on July 12, 2011, we declared a quarterly dividend of $0.25 per share of common stock for shareholders of record on July 22, 2011 and payable on August 22, 2011.

In 2006, we sold warrants on our common shares, which have an exercise price of $61.25 per share, and will settle in January 2012.  The warrant agreement calls for the net value of these warrants to be settled with Core Laboratories N.V. common shares. 

In May 2011, we reached an agreement with the holder of the warrants to accelerate the settlement of 25% of the warrants. This agreement called for the daily settlement of 82,402 warrants using an exercise price which was adjusted based on the daily volume weighted average price. During May and June 2011, we settled 1,648,040 of the outstanding warrants using a calculated exercise price which averaged $59.57 during the period. These settlements resulted in the distribution of 630,744 shares of treasury stock. There was a second agreement entered into during the first week of June 2011 with the holder of the warrants to accelerate the settlement of an additional 25% of the original number of warrants during the months of June and July 2011. During June 2011, we settled 1,565,638 warrants using a calculated exercise price which averaged $60.24 during the period. We had the option to settle this tranche of warrants with cash or shares. These settlements resulted in a distribution of $57.8 million in cash during June 2011 with an additional $8.0 million in cash and 37,692 shares distributed in July 2011.

The following table summarizes our changes in equity for the six months ended June 30, 2011 (in thousands):

	Common		Additional Paid-In			Retained			Accumulated Other Comprehensive			Treasury			Non- Controlling			Total
(Unaudited)	Shares		Capital			Earnings			Income (Loss)			Stock			Interest			Equity
December 31, 2010	$	1,397	$	—		$	536,991		$	(6,207	)	$	(242,690	)	$	2,849		$	292,340
Stock options exercised	—		(1,377		)	—			—			1,618			—			241
Stock based-awards	—		307			—			—			5,616			—			5,923
Tax benefit of stock-based awards issued	—		2,289			—			—			—			—			2,289
Repurchase of common shares	—		—			—			—			(52,097		)	—			(52,097		)
Dividends paid	—		—			(22,709		)	—			—			—			(22,709		)
Equity component of short-term debt	—		6,681			—			—			—			—			6,681
Exchange of Senior Exchangeable Notes	—		(5,031		)	(40,311		)	—			43,452			—			(1,890		)
Settlement of warrants	—		(2,869		)	(101,078		)	—			38,188			—			(65,759		)
Non-controlling interest contribution	—		—			—			—			—			895			895
Non-controlling interest dividends	—		—			—			—			—			(240		)	(240		)
Comprehensive income:
Amortization of deferred pension costs, net of tax	—		—			—			152			—						152
Net income (loss)	—		—			86,741			—			—			(365		)	86,376
Total comprehensive income																		86,528
June 30, 2011	$	1,397	$	—		$	459,634		$	(6,055	)	$	(205,913	)	$	3,139		$	252,202

Comprehensive Income

The components of comprehensive income consisted of the following (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
	(Unaudited)				(Unaudited)
Net income	$	40,384	$	34,362	$	86,376	$	66,648
Amortization of deferred pension costs, net of tax	76		86		152		171
Total comprehensive income	$	40,460	$	34,448	$	86,528	$	66,819

Accumulated other comprehensive income (loss) consisted of the following (in thousands):

	June 30, 2011			December 31, 2010
	(Unaudited)
Prior service cost	$	(793	)	$	(853	)
Transition asset	292			324
Unrecognized net actuarial loss	(5,554		)	(5,678		)
Total accumulated other comprehensive income (loss)	$	(6,055	)	$	(6,207	)