Supplemental Guarantors Consolidating Condensed Financial Information (Tables)

6 Months Ended

Jun. 30, 2018

Supplemental Guarantors Consolidating Condensed Financial Information [Abstract]

Schedule of Condensed Balance Sheet

CONSOLIDATING CONDENSED BALANCE SHEET

As of June 30, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
ASSETS
Cash and cash equivalents	$	—		$	52,178		$	22,975		$	—		$	75,153
Receivables
Trade, net	—			8,986			882			—			9,868
Notes and other	2,357			25			201			—			2,583
Due from Seitel Holdings, Inc.	—			1,198			—			—			1,198
Intercompany receivables (payables)	(87,965		)	85,938			2,027			—			—
Investment in subsidiaries	412,751			422,925			653			(836,329		)	—
Net seismic data library	—			50,753			13,841			—			64,594
Net property and equipment	—			565			861			—			1,426
Prepaid expenses, deferred charges and other	211			2,640			2,064			—			4,915
Intangible assets, net	900			—			—			—			900
Goodwill	—			105,170			73,810			—			178,980
Deferred income taxes	—			53			166			—			219
TOTAL ASSETS	$	328,254		$	730,431		$	117,480		$	(836,329	)	$	339,836
LIABILITIES AND STOCKHOLDER’S EQUITY
LIABILITIES
Accounts payable and accrued liabilities	$	5,007		$	6,320		$	2,513		$	—		$	13,840
Income taxes payable	12			21			—			—			33
Senior Notes	248,834			—			—			—			248,834
Obligations under capital leases	—			—			1,166			—			1,166
Deferred revenue	—			13,843			1,343			—			15,186
Deferred income taxes	—			—			748			—			748
TOTAL LIABILITIES	253,853			20,184			5,770			—			279,807
STOCKHOLDER’S EQUITY
Common stock	—			—			—			—			—
Additional paid-in capital	400,595			—			—			—			400,595
Parent investment	—			764,105			156,784			(920,889		)	—
Retained deficit	(326,194		)	(53,858		)	(30,326		)	84,184			(326,194		)
Accumulated other comprehensive loss	—			—			(14,748		)	376			(14,372		)
TOTAL STOCKHOLDER’S EQUITY	74,401			710,247			111,710			(836,329		)	60,029
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$	328,254		$	730,431		$	117,480		$	(836,329	)	$	339,836

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 June 30, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	11,634		$	1,029		$	(339	)	$	12,324
EXPENSES:
Depreciation and amortization	—			6,291			1,790			—			8,081
Impairment of goodwill	—			2,518			1,978			—			4,496
Cost of sales	—			52			55			(19		)	88
Selling, general and administrative	130			3,984			1,013			(320		)	4,807
	130			12,845			4,836			(339		)	17,472
LOSS FROM OPERATIONS	(130		)	(1,211		)	(3,807		)	—			(5,148		)
Interest income (expense), net	(6,407		)	261			114			—			(6,032		)
Foreign currency exchange gains	—			—			470			—			470
Other income	—			41			22			—			63
Loss before income taxes and equity in loss of subsidiaries	(6,537		)	(909		)	(3,201		)	—			(10,647		)
Provision (benefit) for income taxes	—			6			(842		)	—			(836		)
Equity in loss of subsidiaries	(3,274		)	(2,359		)	—			5,633			—
NET LOSS	$	(9,811	)	$	(3,274	)	$	(2,359	)	$	5,633		$	(9,811	)

CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS

For the Six Months Ended June 30, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	28,489		$	4,250		$	(926	)	$	31,813
EXPENSES:
Depreciation and amortization	—			13,463			4,929			—			18,392
Impairment of goodwill	—			2,518			1,978			—			4,496
Cost of sales	—			332			56			(283		)	105
Selling, general and administrative	260			8,653			2,244			(643		)	10,514
	260			24,966			9,207			(926		)	33,507
INCOME (LOSS) FROM OPERATIONS	(260		)	3,523			(4,957		)	—			(1,694		)
Interest income (expense), net	(12,618		)	313			219			—			(12,086		)
Foreign currency exchange gains (losses)	—			(1		)	1,113			—			1,112
Other income	—			50			22			—			72
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(12,878		)	3,885			(3,603		)	—			(12,596		)
Provision (benefit) for income taxes	—			47			(929		)	—			(882		)
Equity in income (loss) of subsidiaries	1,164			(2,674		)	—			1,510			—
NET INCOME (LOSS)	$	(11,714	)	$	1,164		$	(2,674	)	$	1,510		$	(11,714	)

CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS

For the Six Months Ended June 30, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	33,093		$	12,144		$	(942	)	$	44,295
EXPENSES:
Depreciation and amortization	—			34,482			9,775			(25		)	44,232
Cost of sales	—			327			6			(290		)	43
Selling, general and administrative	260			8,637			2,406			(652		)	10,651
	260			43,446			12,187			(967		)	54,926
LOSS FROM OPERATIONS	(260		)	(10,353		)	(43		)	25			(10,631		)
Interest expense, net	(11,913		)	(466		)	(18		)	—			(12,397		)
Foreign currency exchange gains (losses)	—			2			(87		)	—			(85		)
Other income	—			—			96			—			96
Loss before income taxes and equity in loss of subsidiaries	(12,173		)	(10,817		)	(52		)	25			(23,017		)
Benefit for income taxes	—			(1		)	(1		)	—			(2		)
Equity in loss of subsidiaries	(10,842		)	(51		)	—			10,893			—
NET LOSS	$	(23,015	)	$	(10,867	)	$	(51	)	$	10,918		$	(23,015	)

CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS

For the Three Months Ended June 30, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations			Consolidated Total
REVENUE	$	—		$	19,291		$	5,010		$	(601	)	$	23,700
EXPENSES:
Depreciation and amortization	—			18,366			3,615			(12		)	21,969
Cost of sales	—			317			(8		)	(276		)	33
Selling, general and administrative	137			4,010			1,183			(325		)	5,005
	137			22,693			4,790			(613		)	27,007
INCOME (LOSS) FROM OPERATIONS	(137		)	(3,402		)	220			12			(3,307		)
Interest expense, net	(6,039		)	(145		)	(3		)	—			(6,187		)
Foreign currency exchange gains (losses)	—			2			(36		)	—			(34		)
Other income	—			—			96			—			96
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(6,176		)	(3,545		)	277			12			(9,432		)
Provision for income taxes	—			1			203			—			204
Equity in income (loss) of subsidiaries	(3,460		)	74			—			3,386			—
NET INCOME (LOSS)	$	(9,636	)	$	(3,472	)	$	74		$	3,398		$	(9,636	)

Schedule of Condensed Statement of Comprehensive Income (Loss)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE LOSS

For the Three Months Ended June 30, 2018

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Net loss	$	(9,811	)	$	(3,274	)	$	(2,359	)	$	5,633	$	(9,811	)
Foreign currency translation adjustments	—			—			(2,369		)	—		(2,369		)
Comprehensive loss	$	(9,811	)	$	(3,274	)	$	(4,728	)	$	5,633	$	(12,180	)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended June 30, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Consolidating Eliminations		Consolidated Total
Net income (loss)	$	(9,636	)	$	(3,472	)	$	74	$	3,398	$	(9,636	)
Foreign currency translation adjustments	—			—			2,569		—		2,569
Comprehensive income (loss)	$	(9,636	)	$	(3,472	)	$	2,643	$	3,398	$	(7,067	)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Six Months Ended June 30, 2017

(In thousands)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Net loss	$	(23,015	)	$	(10,867	)	$	(51	)	$	10,918	$	(23,015	)
Foreign currency translation adjustments	—			—			3,280			111		3,391
Comprehensive income (loss)	$	(23,015	)	$	(10,867	)	$	3,229		$	11,029	$	(19,624	)

CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Six Months Ended June 30, 2018

(In thousands)

	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Consolidating Eliminations		Consolidated Total
Net income (loss)	$	(11,714	)	$	1,164	$	(2,674	)	$	1,510	$	(11,714	)
Foreign currency translation adjustments	—			—		(5,589		)	24		(5,565		)
Comprehensive income (loss)	$	(11,714	)	$	1,164	$	(8,263	)	$	1,534	$	(17,279	)

Schedule of Condensed Statement of Cash Flows

CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 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	$	(12,127	)	$	30,125		$	937		$	—	$	18,935
Cash flows from investing activities:
Cash invested in seismic data	—			(9,154		)	(4,837		)	—		(13,991		)
Cash paid to acquire property and equipment	—			(141		)	(32		)	—		(173		)
Cash from sale of seismic data and property and equipment	—			32			26			—		58
Advances to Seitel Holdings, Inc.	—			(7		)	—			—		(7		)
Net cash used in investing activities	—			(9,270		)	(4,843		)	—		(14,113		)
Cash flows from financing activities:
Principal payments on capital lease obligations	—			—			(138		)	—		(138		)
Intercompany transfers	12,127			(12,056		)	(71		)	—		—
Net cash provided by (used in) financing activities	12,127			(12,056		)	(209		)	—		(138		)
Effect of exchange rate changes	—			(1		)	(111		)	—		(112		)
Net increase (decrease) in cash and cash equivalents	—			8,798			(4,226		)	—		4,572
Cash and cash equivalents at beginning of period	—			43,380			27,201			—		70,581
Cash and cash equivalents at end of period	$	—		$	52,178		$	22,975		$	—	$	75,153

CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 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	$	(12,220	)	$	17,498		$	15,576		$	—	$	20,854
Cash flows from investing activities:
Cash invested in seismic data	—			(9,491		)	(6,610		)	—		(16,101		)
Cash paid to acquire property and equipment	—			(149		)	(101		)	—		(250		)
Cash from sale of seismic data and property and equipment	—			—			3			—		3
Advances to Seitel Holdings, Inc.	—			(8		)	—			—		(8		)
Net cash used in investing activities	—			(9,648		)	(6,708		)	—		(16,356		)
Cash flows from financing activities:
Principal payments on capital lease obligations	—			—			(112		)	—		(112		)
Intercompany transfers	12,220			(12,220		)	—			—		—
Net cash provided by (used in) financing activities	12,220			(12,220		)	(112		)	—		(112		)
Effect of exchange rate changes	—			—			460			—		460
Net increase (decrease) in cash and cash equivalents	—			(4,370		)	9,216			—		4,846
Cash and cash equivalents at beginning of period	—			47,971			8,026			—		55,997
Cash and cash equivalents at end of period	$	—		$	43,601		$	17,242		$	—	$	60,843