NDUSTRY SEGMENTS

Following the transactions closed during the three month period ended March 31, 2018, we reorganized our reporting segments and now manage our operations through three Divisions: Completion Fluids & Products, Water & Flowback Services, and Compression. Our Completion Fluids & Products Division was previously reported as our Fluids Division, and included our water management services operations. Following the acquisition of SwiftWater in February 2018, our expanded water management operations are now included with our production testing operations as part of our Water & Flowback Services Division. The operations of our previous Offshore Division, consisting of our previous Offshore Services and Maritech, are now reported as discontinued operations following their disposal in March 2018.

Our Completion Fluids & Products 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 Water & Flowback Services Division provides domestic onshore oil and gas operators with comprehensive water management services. The division also provides frac flowback, production well testing, offshore rig cooling, and other associated services in many of the major oil and gas producing regions in the United States, Mexico, and Canada, as well as in basins in certain regions in South America, Africa, Europe, the Middle East, and Australia.

The Compression Division is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. The Compression Division's equipment sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages, and oilfield pump systems designed and fabricated at the division's facilities. The Compression Division's aftermarket services business provides compressor package reconfiguration and maintenance services as well as providing compressor package parts and components manufactured by third-party suppliers. The Compression Division provides its services and equipment to a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States as well as in a number of foreign countries, including Mexico, Canada, and Argentina.

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 is as follows:



	Three Months Ended March 31,
	2018			2017
	(In Thousands)
Revenues from external customers
Product sales
Completion Fluids & Products Division	$	51,057		$	52,211
Water & Flowback Services Division	1,250			6,113
Compression Division	23,646			9,654
Consolidated	$	75,953		$	67,978

Services
Completion Fluids & Products Division	$	2,049		$	4,016
Water & Flowback Services Division	59,603			31,510
Compression Division	61,776			55,905
Consolidated	$	123,428		$	91,431

Interdivision revenues
Completion Fluids & Products Division	$	(2	)	$	1
Water & Flowback Services Division	222			556
Compression Division	—			—
Interdivision eliminations	(220		)	(557		)
Consolidated	$	—		$	—



Total revenues
Completion Fluids & Products Division	$	53,104		$	56,228
Water & Flowback Services Division	61,075			38,179
Compression Division	85,422			65,559
Interdivision eliminations	(220		)	(557		)
Consolidated	$	199,381		$	159,409

Income (loss) before taxes
Completion Fluids & Products Division	$	2,449		$	19,473
Water & Flowback Services Division	6,548			(1,265		)
Compression Division	(14,018		)	(14,333		)
Interdivision eliminations	—			(167		)
Corporate Overhead⁽¹⁾	(14,912		)	(7,872		)
Consolidated	$	(19,933	)	$	(4,164	)



	March 31, 2018			December 31, 2017
	(In Thousands)
Total assets
Completion Fluids & Products Division	$	303,157		$	293,507
Water & Flowback Services Division	224,570			139,771
Compression Division	895,979			784,745
Corporate Overhead and eliminations	(23,351		)	(30,501		)
Assets of discontinued operations	7,907			121,092
Consolidated	$	1,408,262		$	1,308,614


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



	Three Months Ended March 31,
	2018			2017
	(In Thousands)
General and administrative expense	$	12,598		$	9,555
Depreciation and amortization	151			91
Interest expense	4,007			3,774
Warrants fair value adjustment	(1,994		)	(5,976		)
Other general corporate (income) expense, net	150			428
Total	$	14,912		$	7,872