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Other (Income) Expense
 12 Months Ended
Dec. 31, 2012
Other (Income) Expense, net [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
OTHER INCOME, NET

The components of other (income) expense, net, are as follows (in thousands):
 
 
For the Years Ended December 31,
 
 
2012
 
2011
 
2010
 
 
 
 
 
 
 
Gain on sale of assets
 
$
(201
)
 
$
(487
)
 
$
(176
)
Equity in income of affiliates
 
(646
)
 
(274
)
 
(376
)
Loss on foreign exchange
 
142

 
1,800

 
1,032

Interest income
 
(319
)
 
(138
)
 
(249
)
Rent and royalty income
 
(1,033
)
 
(1,716
)
 
(1,550
)
Gain on insurance recovery
 
(4,490
)
 
(1,014
)
 
—

Legal entity realignment costs
 
1,860

 
711

 
—

NYSE Euronext Amsterdam listing costs
 
923

 
—

 
—

Other (gain) loss
 
(357
)
 
199

 
(886
)
Total other income, net
 
$
(4,121
)
 
$
(919
)
 
(2,205
)


During 2012, we incurred legal, accounting and other fees in connection with the realignment of certain of our legal entities into a more cost effective structure and the listing of our shares on the Euronext Amsterdam.

As a result of a supply disruption in 2011 from a key vendor that provided certain high performance specialty steel tubulars used with the Company's perforating systems, we filed a claim under our business interruption insurance policy which was fully settled during 2012 for $4.4 million.

As a result of reaching a settlement on a property damage claim we filed in 2010, we recorded an insurance recovery gain of $1.0 million in 2011.

Foreign Currency Risk

We operate in a number of international areas which exposes us to foreign currency exchange rate risk. We do not currently hold or issue forward exchange contracts or other derivative instruments for hedging or speculative purposes (a foreign exchange contract is an agreement to exchange different currencies at a given date and at a specified rate). Foreign exchange gains and losses are the result of fluctuations in the USD against foreign currencies and are included in other (income) expense in the statements of operations. We recognized foreign exchange losses in countries where the USD weakened against the local currency and we had net monetary liabilities denominated in the local currency; as well as countries where the USD strengthened against the local currency and we had net monetary assets denominated in the local currency. We recognized foreign exchange gains in countries where the USD strengthened against the local currency and we had net monetary liabilities denominated in the local currency and in countries where the USD weakened against the local currency and we had net monetary assets denominated in the local currency. Foreign exchange gains and losses are summarized in the following table (in thousands):

 
For the Years Ended December 31,
(Gains) losses by currency
2012
 
2011
 
2010
 
 
 
 
 
 
 
Argentine Peso
$
147

 
$
113

 
$
17

 
Australian Dollar
30

 
81

 
(135
)
 
Angolan Kwanza
41

 
257

 
(58
)
 
British Pound
(41
)
 
163

 
390

 
Canadian Dollar
(415
)
 
423

 
(711
)
 
Euro
(62
)
 
257

 
1,788

 
Malaysian Ringgit
70

 
187

 
(157
)
 
Nigerian Naira
11

 
164

 
98

 
Venezuelan Bolivar
7

 
(108
)
 
(267
)
 
Other currencies, net
354

 
263

 
67

Total loss
$
142

 
$
1,800

 
1,032