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SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2011
SEGMENT REPORTING  
Reconciliation of third party revenues to direct revenues

 

 

 

 

For the Three Months Ended June 30, 2011

 

 

 

Technical
Services

 

Field
Services

 

Industrial
Services

 

Oil and Gas
Field
Services

 

Corporate
Items

 

Totals

 

Third party revenues

 

$

202,330

 

$

72,615

 

$

111,376

 

$

60,617

 

$

297

 

$

447,235

 

Intersegment revenues, net

 

4,210

 

(5,623

)

(1,087

)

2,964

 

(464

)

 

Direct revenues

 

$

206,540

 

$

66,992

 

$

110,289

 

$

63,581

 

$

(167

)

$

447,235

 

 

 

 

For the Three Months Ended June 30, 2010

 

 

 

Technical
Services

 

Field
Services (1)

 

Industrial
Services

 

Oil and Gas
Field
Services

 

Corporate
Items

 

Totals

 

Third party revenues

 

$

167,409

 

$

162,723

 

$

98,804

 

$

42,663

 

$

40

 

$

471,639

 

Intersegment revenues, net

 

7,137

 

(9,086

)

(405

)

2,715

 

(361

)

 

Direct revenues

 

$

174,546

 

$

153,637

 

$

98,399

 

$

45,378

 

$

(321)

 

$

471,639

 

 

 

 

For the Six Months Ended June 30, 2011

 

 

 

Technical
Services

 

Field
Services

 

Industrial
Services

 

Oil and Gas
Field
Services

 

Corporate
Items

 

Totals

 

Third party revenues

 

$

387,777

 

$

134,874

 

$

219,959

 

$

139,251

 

$

336

 

$

882,197

 

Intersegment revenues, net

 

9,351

 

(9,574

)

(3,960

)

5,157

 

(974

)

 

Direct revenues

 

$

397,128

 

$

125,300

 

$

215,999

 

$

144,408

 

$

(638

)

$

882,197

 

 

 

 

For the Six Months Ended June 30, 2010

 

 

 

Technical
Services

 

Field
Services (1)

 

Industrial
Services

 

Oil and Gas
Field
Services

 

Corporate
Items

 

Totals

 

Third party revenues

 

$

320,936

 

$

213,376

 

$

191,124

 

$

101,163

 

$

(64

)

$

826,535

 

Intersegment revenues, net

 

12,076

 

(13,263

)

(1,631

)

3,622

 

(804

)

 

Direct revenues

 

$

333,012

 

$

200,113

 

$

189,493

 

$

104,785

 

$

(868

)

$

826,535

 

 

(1)          During the three and six months ended June 30, 2010, third party revenues for the Field Services segment included revenues associated with the oil spill response efforts in the Gulf of Mexico of $108.6 million.

Reconciliation to consolidated statements of income to adjusted EBITDA

 

 

 

For the Three Months
Ended  June 30,

 

For the Six Months
Ended June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

Technical Services

 

$

59,614

 

$

44,385

 

$

104,951

 

$

77,565

 

Field Services

 

12,515

 

41,603

 

18,846

 

46,634

 

Industrial Services

 

25,862

 

24,122

 

49,205

 

43,982

 

Oil and Gas Field Services

 

8,427

 

5,966

 

23,092

 

17,462

 

Corporate Items

 

(25,191

)

(19,446

)

(47,276

)

(40,018

)

Total

 

$

81,227

 

$

96,630

 

$

148,818

 

$

145,625

 

 

 

 

 

 

 

 

 

 

 

Reconciliation to Consolidated Statements of Income:

 

 

 

 

 

 

 

 

 

Accretion of environmental liabilities

 

$

2,407

 

$

2,602

 

$

4,796

 

$

5,304

 

Depreciation and amortization

 

26,936

 

22,105

 

52,396

 

44,779

 

Income from operations

 

51,884

 

71,923

 

91,626

 

95,542

 

Other income

 

(2,868

)

(2,708

)

(5,767

)

(3,154

)

Interest expense, net of interest income

 

10,642

 

7,646

 

17,120

 

14,574

 

Income from continuing operations before provision for income taxes

 

$

44,110

 

$

66,985

 

$

80,273

 

$

84,122

 

PP&E and intangible assets by segment

 

June  30,
2011

 

December 31,
2010

 

Property, plant and equipment, net

 

 

 

 

 

Technical Services

 

$

266,968

 

$

259,582

 

Field Services

 

34,821

 

32,311

 

Industrial Services

 

221,852

 

180,781

 

Oil and Gas Field Services

 

283,384

 

151,244

 

Corporate or other assets

 

41,251

 

31,476

 

Total property, plant and equipment, net

 

$

848,276

 

$

655,394

 

Intangible assets:

 

 

 

 

 

Technical Services

 

 

 

 

 

Goodwill

 

$

33,654

 

$

33,448

 

Permits and other intangibles, net

 

65,089

 

66,075

 

Total Technical Services

 

98,743

 

99,523

 

Field Services

 

 

 

 

 

Goodwill

 

3,088

 

3,088

 

Permits and other intangibles, net

 

3,491

 

3,651

 

Total Field Services

 

6,579

 

6,739

 

Industrial Services

 

 

 

 

 

Goodwill

 

28,583

 

10,934

 

Permits and other intangibles, net

 

18,147

 

17,906

 

Total Industrial Services

 

46,730

 

28,840

 

Oil and Gas Field Services

 

 

 

 

 

Goodwill

 

23,186

 

12,782

 

Permits and other intangibles, net

 

40,341

 

26,768

 

Total Oil and Gas Field Services

 

63,527

 

39,550

 

Total

 

$

215,579

 

$

174,652

 

Total assets by segment

 

 

 

June 30,
2011

 

December 31,
2010

 

Technical Services

 

$

529,173

 

$

525,286

 

Field Services

 

44,494

 

35,253

 

Industrial Services

 

279,602

 

221,472

 

Oil and Gas Field Services

 

419,870

 

272,479

 

Corporate Items

 

691,941

 

547,985

 

Total

 

$

1,965,080

 

$

1,602,475

 

Total assets by geographical area

 

June 30,
2011

 

December 31,
2010

 

United States

 

$

1,060,846

 

$

933,550

 

Canada

 

899,986

 

664,534

 

Other foreign

 

4,248

 

4,391

 

Total

 

$

1,965,080

 

$

1,602,475