Segment Information

3 Months Ended

Mar. 31, 2015

Segment Information [Abstract]

Segment Information

(9)Segment Information

Business Segments

The Drilling Products and Services segment rents and sells bottom hole assemblies, premium drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities.  It also provides on-site accommodations and bolting and machining services.  The Onshore Completion and Workover Services segment provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a variety of well completion, workover and maintenance services.  The Production Services segment provides intervention services such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. It also provides specialized pressure control tools used to manage and control pressure throughout the life of a well.The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well control services, well containment systems, stimulation and sand control services and well plug and abandonment services. It also includes production handling arrangements and the production and sale of oil and gas. 

For the three months ended March 31, 2015 and 2014, operating results for the Company’s subsea construction and conventional decommissioning businesses are reported in discontinued operations (see note 2).  Previously those operating results were reported within the Technical Solutions segment.

The Company evaluates the performance of its reportable segments based on income or loss from operations.  The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation expense and allocated general and administrative expenses.  General and administrative expenses are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods which the Company believes to be a reasonable reflection of the utilization of services provided.  The Company believes this segment measure is useful in evaluating the performance of its reportable segments because it highlights operating trends and aids analytical comparisons.

Summarized financial information for the Company’s segments for the three months ended March 31, 2015 and 2014 is shown in the following tables (in thousands): 

Three Months Ended March 31, 2015
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	199,459	$	350,992	$	251,469	$	115,315	$	-	$	917,235
Cost of services and rentals
(exclusive of items shown separately below)		63,251		254,115		191,314		73,566		-		582,246
Depreciation, depletion, amortization     and accretion		49,084		59,811		39,160		14,165		-		162,220
General and administrative expenses		39,960		38,292		43,682		29,028		-		150,962
Income (loss) from operations		47,164		(1,226)		(22,687)		(1,444)		-		21,807
Interest expense, net		-		-		-		417		(23,626)		(23,209)
Other expense		-		-		-		-		(971)		(971)
Income (loss) from continuing operations     before income taxes	$	47,164	$	(1,226)	$	(22,687)	$	(1,027)	$	(24,597)	$	(2,373)

Three Months Ended March 31, 2014
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	220,210	$	389,877	$	321,235	$	130,096	$	-	$	1,061,418
Cost of services and rentals
(exclusive of items shown separately below)		67,152		284,235		227,225		72,993		-		651,605
Depreciation, depletion, amortization     and accretion		45,017		60,604		41,808		14,889		-		162,318
General and administrative expenses		41,160		38,968		47,188		28,603		-		155,919
Income from operations		66,881		6,070		5,014		13,611		-		91,576
Interest expense, net		-		-		-		365		(24,246)		(23,881)
Other expense		-		-		-		-		(35)		(35)
Income (loss) from continuing operations     before income taxes	$	66,881	$	6,070	$	5,014	$	13,976	$	(24,281)	$	67,660

Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
March 31, 2015	$	1,358,218	$	2,924,085	$	1,992,701	$	948,154	$	-	$	7,223,158
December 31, 2014	$	1,304,110	$	3,010,295	$	2,116,171	$	946,813	$	-	$	7,377,389

As of March 31, 2015 and December 31, 2014, the Technical Solutions segment included $144.9 millionand $116.7 million, respectively, of identifiable assets of the subsea construction and conventional decommissioning businesses that were classified as assets held for sale on the consolidated balance sheets.

Geographic Segments

The Company attributes revenue to various countries based on the location of where services are performed or the destination of the drilling products or equipment sold or rented.  Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period.  As of March 31, 2015 and December 31, 2014, the assets of the subsea construction and conventional decommissioning businesses are classified as assets held for sale on the consolidated balance sheets.  The Company’s revenue by geographic area for the three months ended March 31, 2015 and 2014 and long-lived assets by geographic area as of March 31, 2015 and December 31, 2014 are as follows (in thousands):

Revenues
	Three Months Ended March 31,
	2015		2014
United States	$	760,443	$	892,319
Other Countries		156,792		169,099
Total	$	917,235	$	1,061,418
Long-Lived Assets
	March 31, 2015		December 31, 2014
United States	$	2,311,191	$	2,416,306
Other Countries		379,300		317,533
Total, net	$	2,690,491	$	2,733,839