Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has determined that its two reportable segments are Energy and Sports. The Energy segment provides drilling and production services to the oil and gas industry. The Sports segment is a social impact organization that strives to provide a first-class youth sports experience emphasizing positive experiences and instilling the core values of discipline, teamwork, safety, respect, and integrity.

The Company identifies its operating segments based on the services provided by its various operations and the financial information used by its chief operating decision maker to make decisions regarding the allocation of resources to and the financial performance of the operating segments. The reporting segments represent an aggregation of individual operating segments with similar economic and other characteristics. The Energy segment is an aggregation of the individual operating segments represented by Sun Well, Rogue, and Black Hawk Ltd. The Sports segment is an aggregation of the individual operating segments represented by Baseball Heaven LLC, a provider of a wide variety of baseball services, UK Elite, and the Crossfit^® entities.

In 2014, the Company changed its measurement method to measure the profit or loss of its segments to be based on operating income (loss) before goodwill and other asset impairments. The measurement method had previously been operating income (loss). Operating income (loss) before goodwill and other asset impairments of the segments is determined in the same manner as operating income under generally accepted accounting principles, with the sole exception of excluding the amounts for goodwill and other asset impairments. The accounting policies used to measure operating income (loss) before goodwill and other asset impairments of the segments are the same as those used in preparing the Company’s consolidated financial statements (see Note 2).

Segment information relating to the Company's results of continuing operations was as follows:

	Year Ended December 31,
	2015			2014			2013
	(in thousands)
Revenues
Energy	$	111,397		$	191,608		$	109,624
Sports	21,223			18,540			10,404
Total revenues	$	132,620		$	210,148		$	120,028
Operating income (loss) before goodwill and other asset impairments
Energy	$	2,478		$	29,889		$	12,381
Sports	(3,354		)	(2,161		)	(1,408		)
Total segment operating income (loss)	(876		)	27,728			10,973
Corporate and other business activities	(14,169		)	(14,465		)	(8,411		)
Impairment of goodwill and intangible assets	(25,622		)	(36,666		)	—
Impairment of marketable securities	(59,781		)	—			—
Interest expense	(2,455		)	(3,177		)	(1,725		)
Other income (expense), net	14,899			7,058			7,074
Income (loss) from continuing operations before income taxes	$	(88,004	)	$	(19,522	)	$	7,911
Depreciation and amortization expense:
Energy	$	21,904		$	22,530		$	18,392
Sports	$	1,709		1,626			793
Total depreciation and amortization expense	$	23,613		$	24,156		$	19,185

For the year ended December 31, 2015, revenues from the four largest customers in the Company’s Energy segment were approximately $21.6 million, $16.0 million, $15.3 million, and $14.0 million, representing 16.3%, 12.1%, 11.5%, and 10.5%, respectively, of the Company's consolidated revenues. For the year ended December 31, 2014, revenues from the two largest customers in the Company's Energy segment were approximately $43.5 million and $42.7 million, representing 20.7% and 20.3%, respectively, of the Company’s consolidated revenues. For the year ended December 31, 2013, revenues from the two largest customers in the Company’s Energy segment were approximately $20.4 million and $12.7 million, representing 17.0% and 10.5%, respectively, of the Company’s consolidated revenues.

Segment information related to the Company's assets was as follows:

	December 31, 2015		December 31, 2014
	(in thousands)
Total assets
Energy	$	150,437	$	219,630
Sports	14,686		18,625
Corporate and other business activities	179,699		238,691
Total assets	$	344,822	$	476,946
Capital expenditures
Energy	$	4,226	$	15,313
Sports	$	559	$	626
Total capital expenditures	$	4,785	$	15,939

Total assets of Corporate and other business activities at December 31, 2015, include investments in equity-method investees of $24.8 million. Total assets of the Sports segment and Corporate and other business activities at December 31, 2014, include investments in equity-method investees of $3.1 million and $27.0 million, respectively.