Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Financial Information with Respect to Reportable Segments

The following table sets forth certain financial information with respect to Basic’s reportable segments for the three and nine months ended September 30, 2019 and 2018 (in thousands):


	Completion
	& Remedial		Well		Water		Other
	Services		Servicing		Logistics		Services		Corporate		Total

Three Months Ended September 30, 2019 (Unaudited)
Operating revenues	$	70,002	$	57,094	$	48,451	$	2,818	$	—	$	178,365
Direct operating costs	(53,825)		(43,510)		(34,783)		(6,348)		—		(138,466)
Segment profits	$	16,177	$	13,584	$	13,668	$	(3,530)	$	—	$	39,899
Depreciation and amortization	$	13,930	$	5,608	$	7,774	$	64	$	1,803	$	29,179
Capital expenditures	$	2,494	$	1,622	$	7,273	$	—	$	212	$	11,601
Three Months Ended September 30, 2018 (Unaudited)
Operating revenues	$	115,978	$	64,314	$	59,539	$	6,503	$	—	$	246,334
Direct operating costs	(89,777)		(50,591)		(42,785)		(7,246)		—		(190,399)
Segment profits	$	26,201	$	13,723	$	16,754	$	(743)	$	—	$	55,935
Depreciation and amortization	$	16,563	$	6,533	$	7,214	$	314	$	2,130	$	32,754
Capital expenditures	$	10,664	$	4,921	$	6,710	$	43	$	804	$	23,142
Nine Months Ended September 30, 2019 (Unaudited)
Operating revenues	$	224,897	$	175,777	$	155,083	$	9,657	$	—	$	565,414
Direct operating costs	(176,918)		(135,752)		(107,611)		(13,191)		—		(433,472)
Segment profits	$	47,979	$	40,025	$	47,472	$	(3,534)	$	—	$	131,942
Depreciation and amortization	$	40,898	$	16,464	$	22,824	$	189	$	5,293	$	85,668
Capital expenditures	$	17,634	$	13,127	$	22,300	$	123	$	712	$	53,896
Identifiable assets	$	205,950	$	82,819	$	115,693	$	5,483	$	257,684	$	667,629
Nine Months Ended September 30, 2018 (Unaudited)
Operating revenues	$	360,523	$	184,533	$	175,727	$	13,585	$	—	$	734,368
Direct operating costs	(279,963)		(145,303)		(127,716)		(14,691)		—		(567,673)
Segment profits	$	80,560	$	39,230	$	48,011	$	(1,106)	$	—	$	166,695
Depreciation and amortization	$	45,638	$	18,196	$	22,978	$	1,097	$	6,241	$	94,150
Capital expenditures	$	32,002	$	17,227	$	17,488	$	553	$	1,558	$	68,828
Identifiable assets	$	245,273	$	105,287	$	115,803	$	5,203	$	307,404	$	778,970

Reconciliation of Segment Profits to Consolidated Operating Loss

The following table reconciles the segment profits reported above to the operating loss as reported in the consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018 (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018

Segment profits	$	39,899	$	55,935	$	131,942	$	166,695
General and administrative expenses	(32,125)		(39,599)		(102,450)		(132,038)

Depreciation and amortization	(29,179)		(32,754)		(85,668)		(94,150)
Loss on disposal of assets	(837)		(191)		(2,634)		(3,891)
Asset impairment	(3,216)		$	—	(3,216)		—
Operating loss	$	(25,458)	$	(16,609)	$	(62,026)	$	(63,384)