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Industry Segments

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements [Abstract]

NOTE H - INDUSTRY SEGMENTS

We manage our operations through five operating segments: Fluids, Production Testing, Compressco, Offshore Services, and Maritech.

Our Fluids Division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States and in certain countries in Latin America, Europe, Asia, the Middle East, and Africa. The Division also markets liquid and dry calcium chloride products manufactured at its production facilities or purchased from third-party suppliers to a variety of markets outside the energy industry.

Our Production Enhancement Division consists of two operating segments: Production Testing and Compressco. The Production Testing segment provides after-frac flow back, production well testing, rig cooling, and other associated services in many of the major oil and gas basins in the United States, Mexico, Canada, as well as in certain basins in certain regions in South America, Africa, Europe, the Middle East, and Australia.

The Compressco segment provides compression-based production enhancement services, including both conventional wellhead compression services and unconventional compression services, and in certain markets, well monitoring and sand separation services. Compressco provides these services throughout many of the onshore producing regions of the United States, as well as certain basins in Mexico, Canada, and certain countries in South America, Europe, Asia, and other international locations. Beginning June 20, 2011, following the initial public offering of Compressco Partners, L.P. (Compressco Partners), we allocate and charge certain corporate and divisional direct and indirect administrative costs to Compressco Partners.

Our Offshore Division consists of two operating segments: Offshore Services and Maritech. The Offshore Services segment provides (1) downhole and subsea oil and gas services such as well plugging and abandonment and wireline services, (2) decommissioning and certain construction services utilizing heavy lift barges and various cutting technologies with regard to offshore oil and gas production platforms and pipelines, and (3) conventional and saturated air diving services.

The Maritech segment is an oil and gas production operation. During 2011 and the first quarter of 2012, Maritech sold substantially all of its oil and gas producing property interests. Maritech's operations consist primarily of the ongoing abandonment and decommissioning associated with its remaining offshore wells, facilities, and production platforms. Maritech intends to acquire a significant portion of these services from the Offshore Division's Offshore Services segment.

We generally evaluate the performance of and allocate resources to our segments based on profit or loss from their operations before income taxes and nonrecurring charges, return on investment, and other criteria. Transfers between segments and geographic areas are priced at the estimated fair value of the products or services as negotiated between the operating units. “Corporate overhead” includes corporate general and administrative expenses, corporate depreciation and amortization, interest income and expense, and other income and expense.

Summarized financial information concerning the business segments from continuing operations is as follows:

Three Months Ended

Nine Months Ended

^{September 30,}

²⁰¹²

²⁰¹¹

²⁰¹²

²⁰¹¹

^{(In Thousands)}

^{Revenues from external customers}

^{Product sales}

^{Fluids Division}

^56,485

^46,680

^190,756

^174,614

^{Production Enhancement Division}

^{Production Testing}

^Compressco

^1,518

^3,326

^3,737

^8,329

^{Total Production Enhancement Division}

^1,518

^3,326

^3,737

^8,329

^{Offshore Division}

^{Offshore Services}

^2,289

^1,348

^5,166

^3,475

^Maritech

^1,305

^1,871

^4,949

^78,620

^{Total Offshore Division}

^3,594

^3,219

^10,115

^82,095

^Consolidated

^61,597

^53,225

^204,608

^265,038

^{Services and rentals}

^{Fluids Division}

^18,735

^18,709

^53,517

^56,900

^{Production Enhancement Division}

^{Production Testing}

^56,033

^37,060

^144,645

^102,008

^Compressco

^27,413

^21,674

^73,134

^60,881

^{Intersegment eliminations}

⁽⁶²⁴⁾

^{Total Production Enhancement Division}

^82,822

^58,734

^217,155

^162,889

^{Offshore Division}

^{Offshore Services}

^76,513

^87,187

^199,407

^224,027

^Maritech

⁷⁴

¹⁵⁰

⁷²⁹

^{Intersegment eliminations}

^(5,764)

^(16,619)

^(25,479)

^(50,656)

^{Total Offshore Division}

^70,749

^70,642

^174,078

^174,100

^{Corporate overhead}

⁸³

¹²⁴

³³³

¹⁶⁶

^Consolidated

^172,389

^148,209

^445,083

^394,055

^{Intersegment revenues}

^{Fluids Division}

²⁶

¹²⁸

⁷⁴

^{Production Enhancement Division}

^{Production Testing}

^Compressco

^{Total Production Enhancement Division}

^{Offshore Division}

^{Offshore Services}

^Maritech

^{Intersegment eliminations}

^{Total Offshore Division}

^{Intersegment eliminations}

⁽¹⁾

⁽²⁶⁾

⁽¹²⁸⁾

⁽⁷⁸⁾

^Consolidated

^{Three Months Ended}

^{Nine Months Ended}

^{September 30,}

²⁰¹²

²⁰¹¹

²⁰¹²

²⁰¹¹

^{(In Thousands)}

^{Total revenues}

^{Fluids Division}

^75,221

^65,415

^244,401

^231,588

^{Production Enhancement Division}

^{Production Testing}

^56,033

^37,060

^144,645

^102,009

^Compressco

^28,931

^25,000

^76,871

^69,210

^{Intersegment eliminations}

⁽⁶²⁴⁾

^{Total Production Enhancement Division}

^84,340

^62,060

^220,892

^171,219

^{Offshore Division}

^{Offshore Services}

^78,802

^88,535

^204,573

^227,505

^Maritech

^1,305

^1,945

^5,099

^79,349

^{Intersegment eliminations}

^(5,764)

^(16,619)

^(25,479)

^(50,656)

^{Total Offshore Division}

^74,343

^73,861

^184,193

^256,198

^{Corporate overhead}

⁸³

¹²⁴

³³³

¹⁶⁶

^{Intersegment eliminations}

⁽¹⁾

⁽²⁶⁾

⁽¹²⁸⁾

⁽⁷⁸⁾

^Consolidated

^233,986

^201,434

^649,691

^659,093

^{Income (loss) before taxes and}

^{discontinued operations}

^{Fluids Division}

^8,460

^5,127

^33,884

^23,921

^{Production Enhancement Division}

^{Production Testing}

^11,114

^9,603

^27,961

^24,674

^Compressco

^6,356

^3,875

^14,511

^11,689

^{Total Production Enhancement Division}

^17,470

^13,478

^42,472

^36,363

^{Offshore Division}

^{Offshore Services}

^12,108

^13,466

^22,839

^22,667

^Maritech

^(9,231)

^(15,605)

^(19,938)

^18,398

^{Intersegment eliminations}

^1,747

^{Total Offshore Division}

^2,877

^(2,139)

^2,901

^42,812

^{Corporate overhead}

^(15,731)

⁽¹⁾

^(13,636)

⁽¹⁾

^(45,989)

⁽¹⁾

^(56,753)

⁽¹⁾

^Consolidated

^13,076

^2,830

^33,268

^46,343

	^{September 30,}
	²⁰¹²			²⁰¹¹
	^{(In Thousands)}
^{Total assets}
^{Fluids Division}	^$	^367,925		^$	^375,070
^{Production Enhancement Division}
^{Production Testing}		^343,916			^112,636
^Compressco		^217,915			^215,363
^{Total Production Enhancement Division}		^561,831			^327,999
^{Offshore Division}
^{Offshore Services}		^243,724			^239,601
^Maritech		^50,486			^51,040
^{Intersegment eliminations}		^-			⁽⁵⁵⁾
^{Total Offshore Division}		^294,210			^290,586
^{Corporate overhead}		^54,428	⁽²⁾		^250,827	⁽²⁾
^Consolidated	^$	^1,278,394		^$	^1,244,482

⁽¹⁾	^{Amounts reflected include the following general corporate expenses:}

^{Three Months Ended}

^{Nine Months Ended}

^{September 30,}

²⁰¹²

²⁰¹¹

²⁰¹²

²⁰¹¹

^{(In Thousands)}

^{General and administrative expense}

^10,442

^8,314

^29,600

^26,964

^{Depreciation and amortization}

⁸⁵⁵

⁷⁵²

^2,588

^2,166

^{Interest expense}

^4,155

^4,219

^12,391

^12,713

^{Other general corporate (income) expense, net}

²⁷⁹

³⁵¹

^1,410

^14,910

^Total

^15,731

^13,636

^45,989

^56,753

⁽²⁾	^{Includes assets of discontinued operations.}

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Name Accounting Standards Codification

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-Name Statement of Financial Accounting Standard (FAS)

-Number 131

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details