Geographic Areas

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Geographic Areas

9. Geographic Areas

The Company’s operations are organized into three geographic segments - Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia-Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services and the Company has manufacturing facilities in all three of its regional headquarter locations as well as in Macae, Brazil.

Eliminations of operating profits are related to intercompany inventory transfers that are deferred until shipment is made to third party customers.

	Three months ended March 31,
	Western Hemisphere					Eastern Hemisphere					Asia-Pacific				DQ Corporate						Total
	2022		2021			2022		2021			2022		2021		2022			2021			2022			2021
	(In thousands)
Revenues
Products
Point in Time	$	21,071	$	28,286		$	3,740	$	4,853		$	6,411	$	8,576	$	-		$	-		$	31,222		$	41,715
Over-Time		15,590		9,630			8,043		1,869			787		2,369		-			-			24,420			13,868
Total Products		36,661		37,916			11,783		6,722			7,198		10,945		-			-			55,642			55,583
Services
Technical Advisory		8,290		8,321			2,698		1,893			2,528		4,187		-			-			13,516			14,401
Reconditioning		3,295		2,183			564		826			124		257		-			-			3,983			3,266
Total Services (excluding rental tools)		11,585		10,504			3,262		2,719			2,652		4,444		-			-			17,499			17,667
Leasing		5,201		4,437			1,953		1,128			2,842		2,424		-			-			9,996			7,989
Total Services (including rental tools)		16,786		14,941			5,215		3,847			5,494		6,868		-			-			27,495			25,656
Intercompany		3,909		2,224			564		141			1,459		2,074					-			5,932			4,439
Eliminations		-		-			-		-			-		-		(5,932	)		(4,439	)		(5,932	)		(4,439	)
Total Revenues	$	57,356	$	55,081		$	17,562	$	10,710		$	14,151	$	19,887	$	(5,932	)	$	(4,439	)	$	83,137		$	81,239
Depreciation and amortization	$	4,571	$	4,304		$	1,020	$	990		$	1,054	$	1,203	$	914		$	919		$	7,559		$	7,416
Income (loss) before income taxes	$	8,553	$	(19,379	)	$	75	$	(2,863	)	$	340	$	10,738	$	(14,410	)	$	(20,468	)	$	(5,442	)	$	(31,972	)

During the three months ended March 31, 2022, the Company did not incur any significant costs under the 2021 global strategic plan.

	March 31, 2022			December 31, 2021
	(In thousands)
Total long-lived assets:
Western Hemisphere	$	334,167		$	335,760
Eastern Hemisphere		222,993			224,345
Asia-Pacific		57,543			58,308
Eliminations		(353,969	)		(353,536	)
Total	$	260,734		$	264,877
Total assets:
Western Hemisphere	$	662,972		$	686,361
Eastern Hemisphere		805,945			805,574
Asia-Pacific		179,171			184,097
Eliminations		(669,978	)		(665,606	)
Total	$	978,110		$	1,010,426

During the quarter ended March 31, 2022, we did not have any asset write-downs. During the first quarter of 2021, there were approximately $19.1 million of non-cash inventory write downs in the Western Hemisphere and $0.2 million in the Eastern Hemisphere as we proceeded to shift from the manufacturing of our downhole tools products business to a vendor outsourcing model.