Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Summary of financial information has been segregated from continuing operations

The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the years ended December 31, 2018 and 2017 (in thousands):

	Drilling Technologies					Production Technologies
	2018		2017			2018		2017
Discontinued operations:
Revenue	$	—	$	11,534		$	—	$	4,002
Cost of revenue	—		(7,309		)	—		(3,236		)
Selling, general and administrative	—		(6,963		)	—		(1,759		)
Research and development	—		(5		)	—		(364		)
Gain (loss) on disposal of long-lived assets	—		97			—		—
Loss from operations	—		(2,646		)	—		(1,357		)
Other expense	—		(96		)	—		(52		)
Loss on sale of businesses	—		(1,600		)	—		(479		)
Loss on write-down of assets held for sale	—		(6,831		)	—		(9,718		)
Loss before income taxes	—		(11,173		)	—		(11,606		)
Income tax benefit	—		4,138			—		4,299
Net loss from discontinued operations	$	—	$	(7,035	)	$	—	$	(7,307	)

The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the years ended December 31, 2019, 2018, and 2017 (in thousands):

	Consumer and Industrial Chemistry Technologies
	2019			2018			2017
Discontinued operations:
Revenue	$	11,031		$	72,344		$	73,992
Operating expenses	(11,572		)	(65,940		)	(63,621		)
Depreciation and amortization	—			(2,760		)	(2,391		)
Research and development	(69		)	(590		)	(515		)
Income from operations	(610		)	3,054			7,465
Other income (expense)	35			341			(284		)
Gain on sale of businesses	64,160			—			—
Income before income taxes	63,585			3,395			7,181
Income tax expense	(19,129		)	(652		)	(2,730		)
Net income (loss) from discontinued operations	$	44,456		$	2,743		$	4,451

The assets and liabilities held for sale on the Consolidated Balance Sheets as of December 31, 2019 and 2018 are as follows (in thousands):

	Consumer and Industrial Chemistry Technologies
	2019		2018
Assets:
Accounts receivable, net	$	—	$	10,547
Inventories, net	—		52,069
Other current assets	—		446
Property and equipment, net	—		15,899
Goodwill	—		19,480
Other intangible assets, net	—		20,029
Assets held for sale	—		118,470
Liabilities:
Accounts payable	$	—	$	8,883
Accrued liabilities	—		291
Liabilities held for sale	$	—	$	9,174