Supplemental Guarantors Consolidating Condensed Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Supplemental Guarantors Consolidating Condensed Financial Information [Abstract]

Schedule of Condensed Balance Sheet

CONSOLIDATING CONDENSED BALANCE SHEET

As of March 31, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
ASSETS
Cash and cash equivalents	$	—		$	57,692		$	23,282		$	—		$	80,974
Receivables
Trade, net	—			7,884			1,802			—			9,686
Notes and other	2,357			47			128			—			2,532
Due from Seitel Holdings, Inc.	—			1,193			—			—			1,193
Intercompany receivables (payables)	(75,762		)	73,360			2,402			—			—
Investment in subsidiaries	416,025			425,304			633			(841,962		)	—
Net seismic data library	—			53,444			15,503			—			68,947
Net property and equipment	—			598			924			—			1,522
Prepaid expenses, deferred charges and other	135			1,649			1,098			—			2,882
Intangible assets, net	900			—			—			—			900
Goodwill	—			107,688			77,400			—			185,088
Deferred income taxes	—			56			145			—			201
TOTAL ASSETS	$	343,655		$	728,915		$	123,317		$	(841,962	)	$	353,925
LIABILITIES AND STOCKHOLDER’S EQUITY
LIABILITIES
Accounts payable and accrued liabilities	$	10,945		$	3,927		$	3,281		$	—		$	18,153
Income taxes payable	15			37			—			—			52
Senior Notes	248,484			—			—			—			248,484
Obligations under capital leases	—			—			1,259			—			1,259
Deferred revenue	—			11,430			1,435			—			12,865
Deferred income taxes	—			—			904			—			904
TOTAL LIABILITIES	259,444			15,394			6,879			—			281,717
STOCKHOLDER’S EQUITY
Common stock	—			—			—			—			—
Additional paid-in capital	400,594			—			—			—			400,594
Parent investment	—			764,105			156,784			(920,889		)	—
Retained deficit	(316,383		)	(50,584		)	(27,967		)	78,551			(316,383		)
Accumulated other comprehensive loss	—			—			(12,379		)	376			(12,003		)
TOTAL STOCKHOLDER’S EQUITY	84,211			713,521			116,438			(841,962		)	72,208
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$	343,655		$	728,915		$	123,317		$	(841,962	)	$	353,925

CONSOLIDATING CONDENSED BALANCE SHEET

As of December 31, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
ASSETS
Cash and cash equivalents	$	—		$	43,380		$	27,201		$	—		$	70,581
Receivables
Trade, net	—			19,183			4,147			—			23,330
Notes and other	2,357			151			109			—			2,617
Due from Seitel Holdings, Inc.	—			1,191			—			—			1,191
Intercompany receivables (payables)	(75,641		)	73,244			2,397			—			—
Investment in subsidiaries	411,423			425,736			702			(837,861		)	—
Net seismic data library	—			57,703			16,839			—			74,542
Net property and equipment	—			593			1,006			—			1,599
Prepaid expenses, deferred charges and other	31			1,164			647			—			1,842
Intangible assets, net	900			—			—			—			900
Goodwill	—			107,688			79,555			—			187,243
Deferred income taxes	—			51			152			—			203
TOTAL ASSETS	$	339,070		$	730,084		$	132,755		$	(837,861	)	$	364,048
LIABILITIES AND STOCKHOLDER’S EQUITY
LIABILITIES
Accounts payable and accrued liabilities	$	5,007		$	9,421		$	5,770		$	—		$	20,198
Income taxes payable	—			12			2,765			—			2,777
Senior Notes	248,142			—			—			—			248,142
Obligations under capital leases	—			—			1,363			—			1,363
Deferred revenue	—			11,568			1,527			—			13,095
Deferred income taxes	—			—			1,359			—			1,359
TOTAL LIABILITIES	253,149			21,001			12,784			—			286,934
STOCKHOLDER’S EQUITY
Common stock	—			—			—			—			—
Additional paid-in capital	400,592			—			—			—			400,592
Parent investment	—			764,105			156,782			(920,887		)	—
Retained deficit	(314,671		)	(55,022		)	(27,652		)	82,674			(314,671		)
Accumulated other comprehensive loss	—			—			(9,159		)	352			(8,807		)
TOTAL STOCKHOLDER’S EQUITY	85,921			709,083			119,971			(837,861		)	77,114
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$	339,070		$	730,084		$	132,755		$	(837,861	)	$	364,048

Schedule of Condensed Statement of Operations

CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS

For the Three Months Ended March 31, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	16,855		$	3,221		$	(587	)	$	19,489
EXPENSES:
Depreciation and amortization	—			7,172			3,139			—			10,311
Cost of sales	—			280			1			(264		)	17
Selling, general and administrative	130			4,669			1,231			(323		)	5,707
	130			12,121			4,371			(587		)	16,035
INCOME (LOSS) FROM OPERATIONS	(130		)	4,734			(1,150		)	—			3,454
Interest income (expense), net	(6,211		)	52			105			—			(6,054		)
Foreign currency exchange gains (losses)	—			(1		)	643			—			642
Other income	—			9			—			—			9
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(6,341		)	4,794			(402		)	—			(1,949		)
Provision (benefit) for income taxes	—			41			(87		)	—			(46		)
Equity in income (loss) of subsidiaries	4,438			(315		)	—			(4,123		)	—
NET INCOME (LOSS)	$	(1,903	)	$	4,438		$	(315	)	$	(4,123	)	$	(1,903	)

CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS

For the Three Months Ended March 31, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	13,802		$	7,134		$	(341	)	$	20,595
EXPENSES:
Depreciation and amortization	—			16,116			6,160			(13		)	22,263
Cost of sales	—			10			14			(14		)	10
Selling, general and administrative	123			4,627			1,223			(327		)	5,646
	123			20,753			7,397			(354		)	27,919
LOSS FROM OPERATIONS	(123		)	(6,951		)	(263		)	13			(7,324		)
Interest expense, net	(5,874		)	(321		)	(15		)	—			(6,210		)
Foreign currency exchange losses	—			—			(51		)	—			(51		)
Loss before income taxes and equity in loss of subsidiaries	(5,997		)	(7,272		)	(329		)	13			(13,585		)
Benefit for income taxes	—			(2		)	(204		)	—			(206		)
Equity in loss of subsidiaries	(7,382		)	(125		)	—			7,507			—
NET LOSS	$	(13,379	)	$	(7,395	)	$	(125	)	$	7,520		$	(13,379	)

Schedule of Condensed Statement of Comprehensive Income (Loss)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended March 31, 2018

(In thousands)

	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
Net income (loss)	$	(1,903	)	$	4,438	$	(315	)	$	(4,123	)	$	(1,903	)
Foreign currency translation adjustments	—			—		(3,220		)	24			(3,196		)
Comprehensive income (loss)	$	(1,903	)	$	4,438	$	(3,535	)	$	(4,099	)	$	(5,099	)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended March 31, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Net loss	$	(13,379	)	$	(7,395	)	$	(125	)	$	7,520	$	(13,379	)
Foreign currency translation adjustments	—			—			711			111		822
Comprehensive income (loss)	$	(13,379	)	$	(7,395	)	$	586		$	7,631	$	(12,557	)

Schedule of Condensed Statement of Cash Flows

CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(186	)	$	19,910		$	630		$	—	$	20,354
Cash flows from investing activities:
Cash invested in seismic data	—			(5,320		)	(4,424		)	—		(9,744		)
Cash paid to acquire property and equipment	—			(89		)	(11		)	—		(100		)
Advances to Seitel Holdings, Inc.	—			(2		)	—			—		(2		)
Net cash used in investing activities	—			(5,411		)	(4,435		)	—		(9,846		)
Cash flows from financing activities:
Principal payments on capital lease obligations	—			—			(69		)	—		(69		)
Intercompany transfers	186			(186		)	—			—		—
Net cash provided by (used in) financing activities	186			(186		)	(69		)	—		(69		)
Effect of exchange rate changes	—			(1		)	(45		)	—		(46		)
Net increase (decrease) in cash and cash equivalents	—			14,312			(3,919		)	—		10,393
Cash and cash equivalents at beginning of period	—			43,380			27,201			—		70,581
Cash and cash equivalents at end of period	$	—		$	57,692		$	23,282		$	—	$	80,974

CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(215	)	$	8,513		$	5,836		$	—	$	14,134
Cash flows from investing activities:
Cash invested in seismic data	—			(3,747		)	(2,001		)	—		(5,748		)
Cash paid to acquire property and equipment	—			(98		)	(38		)	—		(136		)
Advances to Seitel Holdings, Inc.	—			(3		)	—			—		(3		)
Net cash used in investing activities	—			(3,848		)	(2,039		)	—		(5,887		)
Cash flows from financing activities:
Principal payments on capital lease obligations	—			—			(53		)	—		(53		)
Intercompany transfers	215			(215		)	—			—		—
Net cash provided by (used in) financing activities	215			(215		)	(53		)	—		(53		)
Effect of exchange rate changes	—			—			60			—		60
Net increase in cash and cash equivalents	—			4,450			3,804			—		8,254
Cash and cash equivalents at beginning of period	—			47,971			8,026			—		55,997
Cash and cash equivalents at end of period	$	—		$	52,421		$	11,830		$	—	$	64,251