Revenues are recognized when performance obligations are satisfied in accordance with contractual terms, in an amount that reflects the consideration the Company expects to be entitled to in exchange for services rendered or rentals provided. Taxes collected from customers and remitted to governmental authorities and revenues are reported on a net basis in the Company’s financial statements.

A performance obligation arises under contracts with customers to render services or provide rentals, and is the unit of account under Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). The Company accounts for services rendered and rentals provided separately if they are distinct and the service or rental is separately identifiable from other items provided to a customer and if a customer can benefit from the services rendered or rentals provided on its own or with other resources that are readily available to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. A contract’s standalone selling prices are determined based on the prices that the Company charges for its services rendered and rentals provided. The majority of the Company’s performance obligations are satisfied over time, which is generally represented by a period of 30 days or less. The Company’s payment terms vary by the type of products or services offered. The term between invoicing and when the payment is due is typically 30 days.

Services revenue primarily represents amounts charged to customers for the completion of services rendered, including labor, products and supplies necessary to perform the service. Rates for these services vary depending on the type of services provided and can be based on a per job, per hour or per day basis.

Rentals revenue is, primarily priced on a per day, per man hour or similar basis and consists of fees charged to customers for use of the Company’s rental equipment over the term of the rental period, which is generally less than twelve months.

The Company expenses sales commissions when incurred because the amortization period would have been one year or less.

Disaggregation of revenue

The following table presents the Company’s revenues by segment disaggregated by geography (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
		2019		2018		2019		2018
U.S. land
Drilling Products and Services	$	47,267	$	43,394	$	95,483	$	84,111
Onshore Completion and Workover Services		163,495		276,242		368,533		507,731
Production Services		38,808		47,944		79,475		100,401
Technical Solutions		13,385		7,858		25,307		14,691
Total U.S. land	$	262,955	$	375,438	$	568,798	$	706,934

U.S. offshore
Drilling Products and Services	$	28,085	$	23,261	$	57,153	$	44,250
Onshore Completion and Workover Services		-		-		-		-
Production Services		21,410		13,634		40,682		31,134
Technical Solutions		33,492		35,333		54,424		72,895
Total U.S. offshore	$	82,987	$	72,228	$	152,259	$	148,279

International
Drilling Products and Services	$	25,330	$	27,378	$	49,125	$	50,874
Onshore Completion and Workover Services		-		-		-		-
Production Services		42,784		40,426		86,295		71,186
Technical Solutions		22,259		20,078		47,014		40,593
Total International	$	90,373	$	87,882	$	182,434	$	162,653
Total Revenues	$	436,315	$	535,548	$	903,491	$	1,017,866

The following table presents the Company’s revenues by segment disaggregated by type (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
		2019		2018		2019		2018
Services
Drilling Products and Services	$	28,046	$	27,461	$	59,169	$	51,466
Onshore Completion and Workover Services		154,395		266,071		348,812		487,418
Production Services		95,752		93,678		190,600		188,292
Technical Solutions		66,111		59,602		121,862		119,404
Total services	$	344,304	$	446,812	$	720,443	$	846,580

Rentals
Drilling Products and Services	$	72,636	$	66,572	$	142,592	$	127,769
Onshore Completion and Workover Services		9,100		10,171		19,721		20,313
Production Services		7,250		8,326		15,852		14,429
Technical Solutions		3,025		3,667		4,883		8,775
Total rentals	$	92,011	$	88,736	$	183,048	$	171,286
Total Revenues	$	436,315	$	535,548	$	903,491	$	1,017,866

Impact of adoption of ASU 2016-02, Leases (Topic 842)

Services revenue:

In connection with its adoption of Topic 842, the Company determined that certain of its services revenue contracts contain a lease component. The Company elected to adopt a practical expedient option available to lessors, which allows the Company to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. Therefore, the Company combined the lease and service components for certain of the Company’s service

contracts and continues to account for the combined component under ASU 2014-09, Revenue from Contracts with Customers (Topic 606).

The Company determined that its rentals revenue contracts represent short-term operating leases. Therefore, the adoption of the ASU 2016-02 did not result in any changes in the timing or method of revenue recognition for the Company’s rental revenues.