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Severance and Other Charges
3 Months Ended
Mar. 31, 2015
Restructuring and Related Activities [Abstract]  
Severance and Other Charges
Severance and Other Charges

We are facing a challenging year in the oilfield industry due to the dramatic drop in oil prices. We have been developing and implementing cost savings steps in response to the difficult market conditions. As we continue to reduce our planned expenses through streamlining and other cost savings initiatives, we have recently initiated steps to reduce our total workforce by approximately 400 to 600 employees. On March 31, 2015, we announced to our employees the reduction in workforce plan and offered a voluntary separation program to all U.S. employees. The staffing plans are expected to be completed by the end of May 2015. Severance costs, base rationalization and lease termination fees should cost approximately $12.0 million, which is reflected in our consolidated statements of income under severance and other charges, and affected the following segments: International Services ($0.4 million), U.S. Services ($10.7 million) and Tubular Sales ($0.9 million). The severance and other charges are recorded as accrued and other current liabilities in our consolidated balance sheets. No payments were made under the reduction in workforce plan during the three months ended March 31, 2015.