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Basis of Presentation and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2016
Summary of Significant Accounting Policies (Tables)  
Inventories Table
 
September 30, 2016
 
December 31, 2015
 
(In Thousands)
Finished goods
$
68,856

 
$
54,587

Raw materials
3,431

 
1,731

Parts and supplies
37,577

 
37,379

Work in progress
18,541

 
23,312

Total inventories
$
128,405

 
$
117,009

Weighted Average Shares Outstanding Table
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2016
 
2015
 
2016
 
2015
 
(In Thousands)
Number of weighted average common shares outstanding
91,746

 
79,219

 
85,093

 
79,098

Assumed exercise of stock awards

 
573

 

 
357

Average diluted shares outstanding
91,746

 
79,792

 
85,093

 
79,455

 
Services and Rentals Revenues Table

Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,

2016
 
2015
 
2016
 
2015

(In Thousands)
Rental revenue
$
15,585

 
$
30,478

 
$
41,552

 
$
122,476

Cost of rental revenue
$
8,558

 
$
11,245

 
$
31,424

 
$
53,680



Schedule of Goodwill Table
 
 
Fluids
 
Production Testing
 
Compression
 
Offshore Services
 
Maritech
 
Total
 
 
(In Thousands)
Balance as of December 31, 2014
 
$
6,636

 
$
53,682

 
$
233,548

 
$

 
$

 
$
293,866

Goodwill adjustments
 

 
(39,775
)
 
(141,146
)
 

 

 
(180,921
)
Balance as of December 31, 2015
 
6,636

 
13,907

 
92,402

 

 

 
112,945

Goodwill adjustments
 

 
(13,907
)
 
(92,402
)
 

 

 
(106,309
)
Balance as of September 30, 2016
 
$
6,636

 
$

 
$

 
$

 
$

 
$
6,636

Fair Value Measurements on a Recurring Basis Table
 
 
 
Fair Value Measurements Using
 
Total as of
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
Description
September 30, 2016
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(In Thousands)
CCLP Series A Preferred Units
$
77,018

 
$

 
$

 
$
77,018

Asset for foreign currency derivative contracts
6

 

 
6

 

Liability for foreign currency derivative contracts
(105
)
 

 
(105
)
 

Net liability
$
76,919

 
 
 
 
 
 

 
 
 
Fair Value Measurements Using
 
Total as of
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
Description
December 31, 2015
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(In Thousands)
Asset for foreign currency derivative contracts
$
23

 
$

 
$
23

 
$

Liability for foreign currency derivative contracts
(385
)
 

 
(385
)
 

Acquisition contingent consideration liability

 

 

 

Net liability
$
(362
)
 
 
 
 
 
 


During the first quarter of 2016, in connection with the review of goodwill impairment of our Compression and Production Testing Divisions, these segments recorded total impairment charges of $117.1 million, reflecting the decreased fair value for certain assets. For further discussion, see "Goodwill" and "Impairment of Long-Lived Assets" section above. The fair values used in these impairment calculations were estimated based on a variety of measurements, including current replacement cost and discounted estimated future cash flows, all of which are based on significant unobservable inputs (a level 3 fair value measurement) in accordance with the fair value hierarchy. A summary of these nonrecurring fair value measurements as of March 31, 2016, using the fair value hierarchy is as follows:

 
 
 
 
Fair Value Measurements Using
 
 
 
 
Total as of
 
Quoted Prices
in Active
Markets for
Identical
Assets
or Liabilities
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
 
Year-to-Date
Impairment
Description
 
March 31, 2016
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Losses
 
 
(In Thousands)
Compression intangible assets
 
$

 

 

 

 
$
7,866

Compression goodwill
 

 

 

 

 
92,334

Production Testing intangible assets
 

 

 

 

 
2,805

Production Testing goodwill
 

 

 

 

 
13,871

Other
 

 

 

 

 
256

Total
 
$

 
 
 
 
 
 
 
$
117,132