Geographic Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Geographic Segments

16. Geographic Segments

	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Western Hemisphere
Revenues
Products
Point in Time	$	79,433	$	108,006	$	135,687
Over Time		71,918		54,061		34,595
Total Products		151,351		162,067		170,282
Services
Technical Advisory		33,431		31,962		29,973
Reconditioning		12,105		10,733		10,985
Total Services (excluding Leasing)		45,536		42,695		40,958
Leasing		18,448		22,202		25,302
Total Services (including Leasing)		63,984		64,897		66,260
Intercompany		13,015		12,856		13,343
Total	$	228,350	$	239,820	$	249,885
Depreciation and amortization	$	19,716	$	21,737	$	23,314
Income (loss) before taxes	$	3,067	$	19,882	$	(29,823	)
Eastern Hemisphere
Revenues
Products
Point in Time	$	30,191	$	65,416	$	49,216
Over Time		25,847		20,641		22,503
Total Products		56,038		86,057		71,719
Services
Technical Advisory		9,489		15,100		16,499
Reconditioning		4,843		3,409		3,188
Total Services (excluding Leasing)		14,332		18,509		19,687
Leasing		7,610		12,351		13,639
Total Services (including Leasing)		21,942		30,860		33,326
Intercompany		2,375		1,267		2,010
Total	$	80,355	$	118,184	$	107,055
Depreciation and amortization	$	3,820	$	4,163	$	4,578
Income before taxes	$	3,284	$	28,045	$	20,495

	Year Ended December 31,
Asia-Pacific	2020			2019			2018
	(In thousands)
Revenues
Products
Point in Time	$	27,897		$	44,908		$	19,569
Over Time		23,548			10,247			3,482
Total Products		51,445			55,155			23,051
Services
Technical Advisory		12,372			9,369			10,143
Reconditioning		3,337			1,445			1,626
Total Services (excluding Leasing)		15,709			10,814			11,769
Leasing		4,504			4,956			8,219
Total Services (including Leasing)		20,213			15,770			19,988
Intercompany		13,084			5,792			2,058
Total	$	84,742		$	76,717		$	45,097
Depreciation and amortization	$	5,126		$	5,038		$	4,785
Income (loss) before taxes	$	5,921		$	27,302		$	(3,123	)
Corporate
Depreciation and amortization	$	3,727		$	3,082		$	2,635
Loss before taxes	$	(74,321	)	$	(64,800	)	$	(102,538	)
Consolidated
Revenues
Products
Point in Time	$	137,521		$	218,330		$	204,472
Over Time		121,313			84,949			60,580
Total Products		258,834			303,279			265,052
Services
Technical Advisory		55,292			56,431			56,615
Reconditioning		20,285			15,587			15,799
Total Services (excluding Leasing)		75,577			72,018			72,414
Leasing		30,562			39,509			47,160
Total Services (including Leasing)		106,139			111,527			119,574
Intercompany		28,474			19,915			17,411
Eliminations		(28,474	)		(19,915	)		(17,411	)
Total	$	364,973		$	414,806		$	384,626
Depreciation and amortization	$	32,389		$	34,020		$	35,312
Income (loss) before taxes	$	(62,049	)	$	10,429		$	(114,989	)

	December 31,
	2020			2019
	(In thousands)
Total long-lived assets:
Western Hemisphere	$	350,577		$	379,776
Eastern Hemisphere		222,741			246,854
Asia-Pacific		68,600			71,384
Eliminations		(353,939	)		(371,938	)
Total	$	287,979		$	326,076
Total assets:
Western Hemisphere	$	769,649		$	732,716
Eastern Hemisphere		779,147			818,803
Asia-Pacific		186,808			181,188
Eliminations		(584,432	)		(526,142	)
Total	$	1,151,172		$	1,206,565

During 2020, we wrote down $25.5 million related to inventory and long-lived assets balances, with $22.3 million recorded in the Eastern Hemisphere and $3.2 million in the Western Hemisphere. We also recorded a full impairment of our goodwill balance of $7.7 million during the first quarter of 2020, all of which was in the Eastern Hemisphere.

In 2020, Chevron and its affiliated companies accounted for approximately 11% of the Company’s total revenues. In 2019, BP and its affiliated companies accounted for approximately 10% of the Company’s total revenues. In 2018, BP and its affiliated companies accounted for approximately 13% of the Company’s total revenues. No other customer accounted for more than 10% of the Company’s total revenues in 2020, 2019 or 2018.

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.