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Segments and Related Information (Tables)
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Financial information by business segment for the three and six months ended June 30, 2020 and 2019 is summarized in the following tables (in thousands).
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended June 30, 2020
Well Site Services –
Completion Services(1)
$36,175  $13,352  $(22,475) $1,923  $266,438  
Drilling Services169  16  (445) —  4,365  
Total Well Site Services36,344  13,368  (22,920) 1,923  270,803  
Downhole Technologies14,965  5,619  (11,110) 1,165  308,942  
Offshore/Manufactured Products94,936  5,476  9,419  457  548,226  
Corporate—  183  (8,723) (511) 118,912  
Total$146,245  $24,646  $(33,334) $3,034  $1,246,883  
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended June 30, 2019
Well Site Services –
Completion Services$103,320  $17,248  $(507) $7,201  $507,028  
Drilling Services12,646  3,224  (2,601) 965  59,322  
Total Well Site Services115,966  20,472  (3,108) 8,166  566,350  
Downhole Technologies46,740  5,256  (1,462) 3,460  707,878  
Offshore/Manufactured Products101,979  5,973  9,809  1,720  677,644  
Corporate—  182  (11,634) 309  45,829  
Total$264,685  $31,883  $(6,395) $13,655  $1,997,701  
____________
(1)Operating loss includes a non-cash fixed asset impairment charge of $3.0 million to reduce the carrying value of certain of the Completion Services reporting unit’s facilities to their estimated realizable value.
RevenuesDepreciation and
amortization
Operating income (loss)Capital
expenditures
Total assets
Six months ended June 30, 2020
Well Site Services –
Completion Services(1)
$119,101  $28,118  $(162,078) $4,861  $266,438  
Drilling Services(2)
4,700  286  (5,796) 114  4,365  
Total Well Site Services123,801  28,404  (167,874) 4,975  270,803  
Downhole Technologies(3)
56,030  11,203  (203,801) 2,814  308,942  
Offshore/Manufactured Products(4)
186,108  11,104  (86,077) 1,522  548,226  
Corporate—  344  (17,384) (396) 118,912  
Total$365,939  $51,055  $(475,136) $8,915  $1,246,883  
RevenuesDepreciation and
amortization
Operating income (loss)Capital
expenditures
Total assets
Six months ended June 30, 2019
Well Site Services –
Completion Services$203,962  $34,534  $(4,001) $18,883  $507,028  
Drilling Services20,396  6,565  (7,160) 1,914  59,322  
Total Well Site Services224,358  41,099  (11,161) 20,797  566,350  
Downhole Technologies101,030  10,322  2,592  7,076  707,878  
Offshore/Manufactured Products189,908  11,560  15,068  3,266  677,644  
Corporate—  453  (23,734) 438  45,829  
Total$515,296  $63,434  $(17,235) $31,577  $1,997,701  
________________
(1)Operating loss includes a non-cash goodwill impairment charge of $127.1 million to reduce the carrying value of the Completion Services reporting unit to its estimated fair value, an inventory impairment charge of $9.0 million to reduce the carrying value of the Completion Services reporting unit's inventory to its estimated realizable value and a non-cash fixed asset impairment charge of $3.0 million to reduce the carrying value of certain of the Completion Services reporting unit's facilities to their estimated realizable value.
(2)Operating loss includes a non-cash fixed asset impairment charge of $5.2 million to reduce the carrying value of the Drilling Services business's fixed assets to their estimated realizable value.
(3)Operating loss includes non-cash goodwill impairment charge of $192.5 million to reduce the carrying value of the Downhole Technologies reporting unit to its estimated fair value.
(4)Operating loss includes a non-cash goodwill impairment charge of $86.5 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit to its estimated fair value and an inventory impairment charge of $16.2 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit's inventory to its estimated net realizable value.
Supplemental Revenue Information by Segments
The following tables provide supplemental disaggregated revenue from contracts with customers by business segment for the three and six months ended June 30, 2020 and 2019 (in thousands):
Well Site ServicesDownhole TechnologiesOffshore/Manufactured ProductsTotal
20202019202020192020201920202019
Three months ended June 30
Major revenue categories -
Project-driven products$—  $—  $—  $—  $51,365  $38,517  $51,365  $38,517  
Short-cycle:
Completion products and services36,175  103,320  14,965  46,740  4,643  29,265  55,783  179,325  
Drilling services169  12,646  —  —  —  —  169  12,646  
Other products—  —  —  —  6,809  5,746  6,809  5,746  
Total short-cycle36,344  115,966  14,965  46,740  11,452  35,011  62,761  197,717  
Other products and services—  —  —  —  32,119  28,451  32,119  28,451  
$36,344  $115,966  $14,965  $46,740  $94,936  $101,979  $146,245  $264,685  
Well Site ServicesDownhole TechnologiesOffshore/Manufactured ProductsTotal
20202019202020192020201920202019
Six months ended June 30
Major revenue categories -
Project-driven products$—  $—  $—  $—  $88,153  $65,762  $88,153  $65,762  
Short-cycle:
Completion products and services119,101  203,962  56,030  101,030  18,416  53,540  193,547  358,532  
Drilling services4,700  20,396  —  —  —  —  4,700  20,396  
Other products—  —  —  —  15,229  13,484  15,229  13,484  
Total short-cycle123,801  224,358  56,030  101,030  33,645  67,024  213,476  392,412  
Other products and services—  —  —  —  64,310  57,122  64,310  57,122  
$123,801  $224,358  $56,030  $101,030  $186,108  $189,908  $365,939  $515,296