Segment Information (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2018

Dec. 31, 2017

Segment revenue and segment operating profit were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2018		2017		2018		2017
Segment revenue:
Production & Automation Technologies	$	241,214	$	199,454	$	696,591	$	578,429
Drilling Technologies		75,254		59,200		209,727		166,664

Total revenue	$	316,468	$	258,654	$	906,318	$	745,093

Income before income taxes:
Segment operating profit:
Production & Automation Technologies	$	24,257	$	8,403	$	57,957	$	26,247
Drilling Technologies		26,209		20,420		71,738		55,067

Total segment operating profit		50,466		28,823		129,695		81,314
Corporate expense and other ⁽¹⁾		6,664		1,818		16,274		6,838
Interest expense, net		10,584		79		16,813		199

Income before income taxes	$	33,218	$	26,926	$	96,608	$	74,277

(1)	Corporate expense includes costs not directly attributable or allocated to our reporting segments such as corporate executive management and other administrative functions, costs related to our Separation from Dover Corporation and the results attributable to our noncontrolling interest.

Segment financial information and a reconciliation of segment results to combined results follows:


	Years Ended December 31,
	2017			2016			2015
Revenue:
Production & Automation Technologies	$	781,938		$	638,017		$	912,383
Drilling Technologies		227,653			113,320			164,297

Total combined revenue	$	1,009,591		$	751,337		$	1,076,680

Segment Income:
Segment operating profit (loss) ⁽¹⁾:
Production & Automation Technologies ⁽²⁾	$	24,889		$	(21,687	)	$	58,446
Drilling Technologies		74,317			8,397			26,819

Total segment operating profit (loss)		99,206			(13,290	)		85,265
Corporate expense / other ⁽³⁾		(10,852	)		(7,395	)		(9,436	)
Net income attributable to noncontrolling interest		930			1,851			1,436

Income (Loss) before income taxes	$	89,284		$	(18,834	)	$	77,265

Depreciation and amortization:
Production & Automation Technologies ⁽⁴⁾	$	99,929		$	99,607		$	103,612
Drilling Technologies ⁽⁵⁾		11,950			12,448			16,380

Combined total	$	111,879		$	112,055		$	119,992

Restructuring charges:
Production & Automation Technologies	$	6,921		$	12,757		$	18,750
Drilling Technologies		—			2,405			2,480

Combined total	$	6,921		$	15,162		$	21,230

Capital expenditures:
Production & Automation Technologies	$	18,517		$	21,588		$	19,272
Drilling Technologies		8,171			4,137			4,945

Combined total	$	26,688		$	25,725		$	24,217

⁽¹⁾

Segment operating profit (loss) includes certain corporate expenses that are allocated to the segments such as information technology, supply chain, and shared services based on direct benefit where identifiable or other methods which the Company believes to be a reasonable reflection of the utilization of services provided.

⁽²⁾	Segment operating profit (loss) for Production & Automation Technologies excludes the net income attributable to noncontrolling interest.

⁽³⁾	Corporate expenses include those costs not attributable to a particular business segment such as corporate executive management and other corporate administrative functions.

⁽⁴⁾	Depreciation and amortization expense for Production & Automation Technologies includes acquisition-related depreciation and amortization of $57,426, $60,025 and $63,217 for the years ended December 31, 2017, 2016 and 2015, respectively.

⁽⁵⁾	Depreciation and amortization expense for Drilling Technologies includes acquisition-related depreciation and amortization of $24, $115 and $3,010 for the years ended December 31, 2017, 2016 and 2015, respectively.


Total assets at December 31:	2017		2016
Production & Automation Technologies	$	1,683,782	$	1,659,711
Drilling Technologies		220,993		191,184

Combined total	$	1,904,775	$	1,850,895

Schedule of Revenue Classified by Significant Products and Services

Revenue classified by significant products and services were as follows:


	Years Ended December 31,
	2017			2016			2015
Revenue:
Artificial lift technologies	$	601,412		$	499,033		$	693,311
Automation technologies		82,093			65,351			93,639
Other production equipment		103,564			75,182			126,870
Drilling technologies		227,653			113,320			164,297
Intercompany eliminations ⁽⁵⁾		(5,131	)		(1,549	)		(1,437	)

Combined total	$	1,009,591		$	751,337		$	1,076,680

⁽⁵⁾	Intercompany eliminations for the years ended December 31, 2017, 2016 and 2015 relate principally between the product groups automation technologies and artificial lift technologies.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Information concerning principal geographic areas is presented as follows:


	Revenue						Long-Lived Assets
	Years Ended December 31,						At December 31,
	2017		2016		2015		2017		2016
United States	$	769,928	$	559,266	$	808,549	$	198,178	$	184,268
Middle East		48,899		54,767		69,951		5,189		8,417
Canada		79,186		54,714		64,961		7,587		8,214
Europe		28,112		19,935		34,970		—		—
Australia		23,667		18,177		47,811		681		619
Latin & South America		34,368		23,588		23,208		197		229
Other		25,431		20,890		27,230		—		—

Combined total	$	1,009,591	$	751,337	$	1,076,680	$	211,832	$	201,747