Industry Segments and Geographic Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Industry Segments and Geographic Information

INDUSTRY SEGMENTS AND GEOGRAPHIC INFORMATION

We manage our operations through two divisions: Completion Fluids & Products Division and Water & Flowback Services Division. 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:

	Year Ended December 31,
	2021		2020		2019
	(In Thousands)
Revenues from external customers
Product sales
Completion Fluids & Products Division	$	211,201	$	229,809	$	258,632
Water & Flowback Services Division	4,028		2,912		921
Consolidated	$	215,229	$	232,721	$	259,553
Services
Completion Fluids & Products Division	$	8,447	$	12,852	$	20,623
Water & Flowback Services Division	164,596		132,142		281,065
Consolidated	$	173,043	$	144,994	$	301,688
Total revenues
Completion Fluids & Products Division	$	219,648	$	242,661	$	279,255
Water & Flowback Services Division	168,624		135,054		281,986
Consolidated	$	388,272	$	377,715	$	561,241
Depreciation, amortization, and accretion
Completion Fluids & Products	$	7,542	$	7,581	$	13,518
Water & Flowback Services	25,060		29,913		33,410
Corporate	900		720		635
Consolidated	$	33,502	$	38,214	$	47,563
Interest expense
Completion Fluids & Products	$	44	$	73	$	68
Water & Flowback Services	7		4		7
Corporate	16,506		19,249		21,733
Consolidated interest expense	16,557		$	19,326	$	21,808
Consolidated interest income	(180)		(400)		(552)
Consolidated interest expense, net	$	16,377	$	18,926	$	21,256
Income (loss) before taxes and discontinued operations
Completion Fluids & Products	$	54,981	$	55,334	$	(33,969)
Water & Flowback Services	(11,116)		(21,850)		(21,173)
Interdivision eliminations	12		12		14
Corporate(1)	(58,598)		(58,582)		(72,981)
Consolidated	$	(14,721)	$	(25,086)	$	(128,109)

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

	Year Ended December 31,
	2021		2020		2019
	(In Thousands)
General and administrative expense	$	39,990	$	36,201	$	51,466
Depreciation, amortization and impairment	1,032		818		631
Interest expense, net	17,483		20,727		21,977
Other general corporate (income) expense, net	93		836		(1,093)
Total	$	58,598	$	58,582	$	72,981

	December 31,
	2021		2020
	(In Thousands)
Total assets
Completion Fluids & Products	$	200,869	$	218,952
Water & Flowback Services	146,110		136,511
Corporate, other and eliminations	51,287		67,370
Assets of discontinued operations	—		710,006
Consolidated	$	398,266	$	1,132,839

	Year Ended December 31,
	2021		2020		2019
	(In Thousands)
Capital expenditures
Completion Fluids & Products	$	3,828	$	4,016	$	7,140
Water & Flowback Services	13,620		9,651		24,340
Corporate	105		1,023		1,033
Discontinued operations (1)	2,980		14,696		75,760
Consolidated	$	20,533	$	29,386	$	108,273

(1)    Amounts presented are net of cost of equipment sold, including zero during 2021, $12.7 million during 2020 and $6.5 million during 2019 for our former Compression Division.

Summarized financial information concerning the geographic areas of our customers and in which we operate at December 31, 2021, 2020, and 2019, is presented below:

	Year Ended December 31,
	2021		2020		2019
	(In Thousands)
Revenues from external customers
United States	$	251,786	$	225,835	$	411,284
Canada and Mexico	5,363		1,347		6,616
South America	10,473		11,583		13,188
Europe	88,136		90,303		93,327
Africa	2,262		8,128		16,874
Middle East, Asia and other	30,252		40,519		19,952
Total	$	388,272	$	377,715	$	561,241
Transfers between geographic areas:
Europe	195		848		1,802
Eliminations	(195)		(848)		(1,802)
Total revenues	$	388,272	$	377,715	$	561,241

During each of the two years ended December 31, 2021 and 2020, no single customer accounted for more than 10% of our consolidated revenues. One customer provided more than 10% of our consolidated revenues during the year ended December 31, 2019. As of December 31, 2021 and 2020, no receivables from individual customers represented 10% or more of our consolidated trade accounts receivables net of allowance for doubtful accounts.

	December 31,
	2021		2020
	(In Thousands)
Identifiable assets
United States	$	291,986	$	285,765
Canada and Mexico	5,891		6,452
South America	21,837		10,388
Europe	72,685		85,733
Africa	199		9,195
Middle East, Asia and other	5,668		25,300
Assets of discontinued operations	—		710,006
Total identifiable assets	$	398,266	$	1,132,839