Industry Segments and Geographic Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Industry Segments and Geographic Information

INDUSTRY SEGMENTS AND GEOGRAPHIC INFORMATIONWe 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,
	2022		2021		2020
	(In Thousands)
Revenues from external customers
Product sales
Completion Fluids & Products Division	$	258,745	$	211,201	$	229,809
Water & Flowback Services Division	1,253		4,028		2,912
Consolidated	$	259,998	$	215,229	$	232,721
Services
Completion Fluids & Products Division	$	14,628	$	8,447	$	12,852
Water & Flowback Services Division	278,587		164,596		132,142
Consolidated	$	293,215	$	173,043	$	144,994
Total revenues
Completion Fluids & Products Division	$	273,373	$	219,648	$	242,661
Water & Flowback Services Division	279,840		168,624		135,054
Consolidated	$	553,213	$	388,272	$	377,715
Depreciation, amortization, and accretion
Completion Fluids & Products	$	7,455	$	7,542	$	7,581
Water & Flowback Services	24,672		25,060		29,913
Corporate	692		900		720
Consolidated	$	32,819	$	33,502	$	38,214
Interest expense
Completion Fluids & Products	$	95	$	44	$	73
Water & Flowback Services	144		7		4
Corporate	16,584		16,506		19,249
Consolidated interest expense	16,823		16,557		19,326
Consolidated interest income	(990)		(180)		(400)
Consolidated interest expense, net	$	15,833	$	16,377	$	18,926
Income (loss) before taxes and discontinued operations
Completion Fluids & Products	$	57,366	$	54,981	$	55,334
Water & Flowback Services	15,732		(11,116)		(21,850)
Interdivision eliminations	11		12		12
Corporate(1)	(61,943)		(58,598)		(58,582)
Consolidated	$	11,166	$	(14,721)	$	(25,086)

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

	Year Ended December 31,
	2022		2021		2020
	(In Thousands)
General and administrative expense	$	45,077	$	39,990	$	36,201
Depreciation, amortization, accretion, and impairments	692		1,032		818
Interest expense, net	17,041		17,483		20,727
Other general corporate (income) expense, net	(867)		93		836
Total	$	61,943	$	58,598	$	58,582

	December 31,
	2022		2021
	(In Thousands)
Total assets
Completion Fluids & Products	$	221,167	$	200,869
Water & Flowback Services	178,759		146,110
Corporate, other and eliminations	34,440		51,287
Consolidated	$	434,366	$	398,266

	Year Ended December 31,
	2022		2021		2020
	(In Thousands)
Capital expenditures
Completion Fluids & Products	$	9,426	$	3,828	$	4,016
Water & Flowback Services	30,431		13,620		9,651
Corporate	199		105		1,023
Discontinued operations (1)	—		2,980		14,696
Consolidated	$	40,056	$	20,533	$	29,386

(1)    Amounts presented are net of cost of equipment sold, including zero during 2022, zero during 2021 and $12.7 million during 2020 for our former Compression Division.

Summarized financial information concerning the geographic areas of our customers and in which we operate at December 31, 2022, 2021, and 2020, is presented below:

	Year Ended December 31,
	2022		2021		2020
	(In Thousands)
Revenues from external customers
United States	$	391,964	$	251,786	$	225,835
Europe	89,077		88,136		90,303
South America	30,560		10,473		11,583
Canada and Mexico	2,213		5,363		1,347
Africa	2,826		2,262		8,128
Middle East, Asia and other	36,573		30,252		40,519
Total	$	553,213	$	388,272	$	377,715
Transfers between geographic areas:
Europe	15		195		848
Eliminations	(15)		(195)		(848)
Total revenues	$	553,213	$	388,272	$	377,715

As of December 31, 2022, receivables from one customer represented more than 10% of our consolidated trade accounts receivables, net of allowance for doubtful accounts. During each of the years ended December 31, 2022, 2021, and 2020, no single customer accounted for more than 10% of our consolidated revenues.

	December 31,
	2022		2021
	(In Thousands)
Identifiable assets
United States	$	305,144	$	291,986
Europe	71,075		72,685
South America	51,448		21,837
Canada and Mexico	1,355		5,891
Africa	199		199
Middle East, Asia and other	5,145		5,668
Total identifiable assets	$	434,366	$	398,266