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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies (Tables)

	Year Ended December 31,
	2012		2011			2010
	(In Thousands)

At beginning of period	$	1,849		$	2,590		$	5,007
Activity in the period:
Provision for doubtful accounts		(237)			973			(1)
Account chargeoffs		(527)			(1,714)			(2,416)
At end of period	$	1,085		$	1,849		$	2,590

Inventories Table

	December 31,
	2012		2011
	(In Thousands)

Finished goods	$	72,312		$	71,247
Raw materials		5,396			5,653
Parts and supplies		24,497			22,216
Work in progress		836			869
Total inventories	$	103,041		$	99,985

Property, Plant, and Equipment Table

Buildings	15 - 40 years
Barges and vessels	5 - 30 years
Machinery and equipment	2 - 20 years
Automobiles and trucks	4 years
Chemical plants	15 - 30 years

Goodwill Table

	Fluids		Production Testing			Compressco			Offshore Services			Maritech			Total
	(In Thousands)
Balance as of December 31, 2009	$	-		$	23,035		$	72,161		$	3,809		$	-		$	99,005
Goodwill adjustments		-			-			-			-			-			-
Balance as of December 31, 2010		-			23,035			72,161			3,809			-			99,005
Goodwill acquired during the year		-			-			-			127			-			127
Balance as of December 31, 2011		-			23,035			72,161			3,936			-			99,132
Goodwill acquired during the year		-			90,472			-			-			-			90,472
Balance as of December 31, 2012	$	-		$	113,507		$	72,161		$	3,936		$	-		$	189,604

Fair Value Measurements on a Nonrecurring Basis Table

Fair Value Measurements Using

Quoted Prices

in Active

Markets for

Significant

Identical

Other

Significant

Assets

Observable

Unobservable

Year-to-Date

Total as of

or Liabilities

Inputs

Impairment

Description

Dec. 31, 2012

(Level 1)

(Level 2)

(Level 3)

Losses

(In Thousands)

Offshore Services assets

14,000

8,360

During 2011, Maritech recorded total impairment charges of approximately $15.2 million associated with its remaining oil and gas properties. During 2011, Maritech sold approximately 95% of its oil and gas reserves and is seeking to sell its remaining properties at current market values. Accordingly, all of Maritech's remaining oil and gas properties as of December 31, 2011, have been reclassified to oil and gas properties held for sale and their net book values have been adjusted to fair value less cost to sell. Fair values are estimated based on current market prices being received for these properties' expected future production cash flows, using forward oil and natural gas pricing data from published sources. Because such published forward pricing data was applied to estimated oil and gas reserve volumes based on our internally prepared reserve estimates, such fair value calculation is based on significant unobservable inputs (Level 3) in accordance with the fair value hierarchy.

A summary of these nonrecurring fair value measurements as of December 31, 2011, using the fair value hierarchy is as follows:

Fair Value Measurements Using

Quoted Prices

in Active

Markets for

Significant

Identical

Other

Significant

Assets

Observable

Unobservable

Year-to-Date

Total as of

or Liabilities

Inputs

Impairment

Description

Dec. 31, 2011

(Level 1)

(Level 2)

(Level 3)

Losses

(In Thousands)

Oil and gas properties

3,743

15,233

Other

246

505

Total

3,989

15,738

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3,4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph k

-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 13

-Subparagraph d

-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.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 7

-Article 9

+ Details

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References+ Details