Geographic Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Geographic Segments

15. Geographic Segments

	Year Ended December 31,
	2022		2021			2020
	(In thousands)
Western Hemisphere
Revenues
Products
Point in Time	$	78,348	$	99,051		$	79,433
Over Time		74,593		47,558			71,918
Total Products		152,941		146,609			151,351
Services
Technical Advisory		40,046		36,897			33,431
Reconditioning		15,137		8,783			12,105
Total Services (excluding Leasing)		55,183		45,680			45,536
Leasing		26,620		20,944			18,448
Total Services (including Leasing)		81,803		66,624			63,984
Intercompany		11,646		14,084			13,015
Total	$	246,390	$	227,317		$	228,350
Depreciation and amortization	$	17,729	$	17,889		$	19,716
Income (loss) before taxes	$	48,302	$	(32,033	)	$	3,067
Eastern Hemisphere
Revenues
Products
Point in Time	$	15,652	$	21,188		$	30,191
Over Time		33,989		13,724			25,847
Total Products		49,641		34,912			56,038
Services
Technical Advisory		10,738		7,920			9,489
Reconditioning		2,660		2,348			4,843
Total Services (excluding Leasing)		13,398		10,268			14,332
Leasing		10,192		5,970			7,610
Total Services (including Leasing)		23,590		16,238			21,942
Intercompany		3,041		2,056			2,375
Total	$	76,272	$	53,206		$	80,355
Depreciation and amortization	$	4,018	$	4,027		$	3,820
Income before taxes	$	19,638	$	4,502		$	3,284

	Year Ended December 31,
Asia-Pacific	2022			2021			2020
	(In thousands)
Revenues
Products
Point in Time	$	21,384		$	23,531		$	27,897
Over Time		16,876			8,708			23,548
Total Products		38,260			32,239			51,445
Services
Technical Advisory		7,280			16,824			12,372
Reconditioning		3,334			1,371			3,337
Total Services (excluding Leasing)		10,614			18,195			15,709
Leasing		5,221			8,128			4,504
Total Services (including Leasing)		15,835			26,323			20,213
Intercompany		4,601			9,047			13,084
Total	$	58,696		$	67,609		$	84,742
Depreciation and amortization	$	4,041		$	4,777		$	5,126
Income before taxes	$	6,708		$	4,860		$	5,921
Corporate
Depreciation and amortization	$	3,633		$	3,688		$	3,727
Loss before taxes	$	(67,878	)	$	(102,379	)	$	(74,321	)
Consolidated
Revenues
Products
Point in Time	$	115,384		$	143,770		$	137,521
Over Time		125,458			69,990			121,313
Total Products		240,842			213,760			258,834
Services
Technical Advisory		58,064			61,641			55,292
Reconditioning		21,131			12,502			20,285
Total Services (excluding Leasing)		79,195			74,143			75,577
Leasing		42,033			35,042			30,562
Total Services (including Leasing)		121,228			109,185			106,139
Intercompany		19,288			25,187			28,474
Eliminations		(19,288	)		(25,187	)		(28,474	)
Total	$	362,070		$	322,945		$	364,973
Depreciation and amortization	$	29,421		$	30,381		$	32,389
Income (loss) before taxes	$	6,770		$	(125,050	)	$	(62,049	)

	December 31,
	2022			2021
	(In thousands)
Total long-lived assets:
Western Hemisphere	$	528,035		$	335,760
Eastern Hemisphere		202,994			224,345
Asia-Pacific		53,922			58,308
Eliminations		(565,024	)		(353,536	)
Total	$	219,927		$	264,877
Total assets:
Western Hemisphere	$	1,079,796		$	686,361
Eastern Hemisphere		581,950			805,574
Asia-Pacific		185,285			184,097
Eliminations		(874,516	)		(665,606	)
Total	$	972,515		$	1,010,426

During 2022, we recorded long-lived asset write-downs of approximately $5.7 million. Out of these, $3.2 million was recorded in DQ Corporate for the Houston corporate administrative building and $2.5 million in the Western Hemisphere related to obsolete machinery and equipment. During 2021, we recorded inventory write-downs of approximately $66.9 million. Out of these, $44.2 million was recorded in the Western Hemisphere, $13.0 million in the Asia-Pacific region and $9.7 million in the Eastern Hemisphere. Additionally, we wrote-down approximately $4.2 million of our long-lived assets in the Asia-Pacific region.

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.