Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Inventory

	December 31,
	2013		2012
	(In thousands)
Raw materials	$	128,606	$	148,822
Work-in-progress		26,762		45,733
Finished goods		54,425		56,578
	$	209,793	$	251,133

Change in the carrying amount of goodwill for various contract drilling segments and other operating segments

	Balance at December 31, 2011		Acquisitions and Purchase Price Adjustments		Disposals and Impairments			Cumulative Translation Adjustment		Balance at December 31, 2012
	(In thousands)
Drilling & Rig Services:
U.S.	$	57,445	$	—	$	(7,296	)(1)	$	—	$	50,149
International		18,983		—		(18,983	)(1)		—		—
Rig Services		34,766		—		(3,035	)(2)		382		32,113
Subtotal Drilling & Rig Services		111,194		—		(29,314	)		382		82,262
Completion & Production Services
Completion		334,992		—		—			—		334,992
Production		55,072		—		—			—		55,072
Subtotal Completion & Production
Services		390,064		—		—			—		390,064
Total	$	501,258	$	—	$	(29,314	)	$	382	$	472,326

	Balance at December 31, 2012		Acquisitions and Purchase Price Adjustments			Disposals and Impairments			Cumulative Translation Adjustment			Balance at December 31, 2013
	(In thousands)
Drilling & Rig Services:
U.S.	$	50,149	$	—		$	—		$	—		$	50,149
Rig Services		32,113		15,828	(3)		(9,631	)(4)		(1,049	)		37,261
Subtotal Drilling & Rig Services		82,262		15,828			(9,631	)		(1,049	)		87,410
Completion & Production Services
Completion		334,992					—			—			334,992
Production		55,072		35,490	(5)		—			—			90,562
Subtotal Completion & Production
Services		390,064		35,490			—			—			425,554
Total	$	472,326	$	51,318		$	(9,631	)	$	(1,049	)	$	512,964

(1)

Represents the impairment of goodwill associated with our operations in our U.S. and International drilling operating segments. As of December 31, 2012, our International operating segment had no recorded goodwill.

(2)

Represents the removal of goodwill in connection with our sale of a subsidiary that provided trucking and logistics services.

(3)

Represents the goodwill recorded in connection with our acquisition of NES. See Note 6—Acquisitions for additional discussion.

(4)

Represents the removal of goodwill in connection with our sale of Peak and the logistic assets from one of our Canada subsidiaries.

(5)

Represents the goodwill recorded in connection with our acquisition of KVS. See Note 6—Acquisitions for additional discussion.