DEI Document
DEI Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 09, 2017 | Jun. 30, 2016 | |
Document Entity Information [Abstract] | |||
Entity Registrant Name | CORE LABORATORIES N V | ||
Entity Central Index Key | 1,000,229 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 44,152,138 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 5,351,649,322 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
CURRENT ASSETS: | ||
Cash and Cash Equivalents, at Carrying Value | $ 14,764 | $ 22,494 |
Accounts receivable, net of allowance for doubtful accounts of $3,139 and $4,136 at 2016 and 2015, respectively | 114,329 | 145,689 |
Inventories, net | 33,720 | 40,906 |
Prepaid Expense, Current | 10,711 | 12,053 |
Income Taxes Receivable, Current | 6,426 | 7,209 |
Other Assets, Current | 6,511 | 10,196 |
TOTAL CURRENT ASSETS | 186,461 | 238,547 |
Property, Plant and Equipment, Net | 129,882 | 143,211 |
INTANGIBLES, net | 9,936 | 10,041 |
GOODWILL | 179,044 | 178,159 |
Deferred Tax Assets, Net, Noncurrent | 20,605 | 11,693 |
Other Assets, Noncurrent | 47,124 | 43,607 |
TOTAL ASSETS | 573,052 | 625,258 |
CURRENT LIABILITIES: | ||
Accounts payable | 33,720 | 33,474 |
Accrued payroll and related costs | 19,411 | 36,475 |
Taxes other than payroll and income | 5,816 | 9,495 |
Unearned revenues | 15,690 | 14,101 |
Income taxes payable | 15,718 | 1,733 |
Other accrued expenses | 13,668 | 25,480 |
TOTAL CURRENT LIABILITIES | 104,023 | 120,758 |
LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS | 216,488 | 430,987 |
DEFERRED COMPENSATION | 46,251 | 43,478 |
Deferred Tax Liabilities, Noncurrent | 6,277 | 4,881 |
Other Liabilities, Noncurrent | 44,716 | 48,853 |
COMMITMENTS AND CONTINGENCIES | ||
EQUITY: | ||
Preference shares, EUR 0.02 par value; 6,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common shares, EUR 0.02 par value; 200,000,000 shares authorized, 44,796,252 issued and 44,151,261 outstanding at 2016 and 44,350,002 issued and 42,375,905 outstanding at 2015 | 1,148 | 1,142 |
Additional paid-in capital | 52,850 | 0 |
Retained Earnings (Accumulated Deficit) | 187,957 | 219,207 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (9,828) | (10,538) |
Treasury shares (at cost), 644,991 at 2016 and 1,974,097 at 2015 | (80,773) | (238,875) |
Total Core Laboratories N.V. shareholders' equity | 151,354 | (29,064) |
Stockholders' Equity Attributable to Noncontrolling Interest | 3,943 | 5,365 |
TOTAL EQUITY | 155,297 | (23,699) |
TOTAL LIABILITIES AND EQUITY | $ 573,052 | $ 625,258 |
Consolidated Balance Sheets Bal
Consolidated Balance Sheets Balance Sheet Parenthetical $ in Thousands | Dec. 31, 2016€ / shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015€ / shares | Dec. 31, 2015USD ($)shares |
Allowance for Doubtful Accounts Receivable, Current | $ | $ 3,139 | $ 4,136 | ||
Common Stock, Par or Stated Value Per Share | € / shares | € 0.02 | € 0.02 | ||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | ||
Common Stock, Shares, Issued | 44,796,252 | 44,350,002 | ||
Common Stock, Shares, Outstanding | 44,151,261 | 42,375,905 | ||
Treasury Stock, Shares | 644,991 | 1,974,097 | ||
Preferred Stock, Par or Stated Value Per Share | € / shares | € 0.02 | € 0.02 | ||
Preferred Stock, Shares Authorized | 6,000,000 | 6,000,000 | ||
Preferred Stock, Shares Issued | 0 | 0 | ||
Preferred Stock, Shares Outstanding | 0 | 0 |
Statement of Income
Statement of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
REVENUES: | |||
Sales Revenue, Services, Net | $ 470,259 | $ 611,954 | $ 780,872 |
Sales Revenue, Goods, Net | 124,482 | 185,566 | 304,350 |
Total Revenue | 594,741 | 797,520 | 1,085,222 |
OPERATING EXPENSES: | |||
Cost of services, exclusive of depreciation shown below | 331,688 | 387,739 | 449,488 |
Cost of product sales, exclusive of depreciation shown below | 110,956 | 144,913 | 215,783 |
General and administrative expenses, exclusive of depreciation shown below | 39,390 | 49,729 | 45,655 |
Depreciation | 26,029 | 26,545 | 25,297 |
Amortization | 843 | 912 | 1,399 |
Other (income) expense, net | (344) | 3,669 | 1,069 |
Severance and other charges | 0 | 22,943 | 0 |
Income Before Interest Expense and Taxes | 86,179 | 161,070 | 346,531 |
Interest expense | 11,572 | 12,380 | 10,600 |
Income before income tax expense | 74,607 | 148,690 | 335,931 |
Income Tax Expense (Benefit) | 10,748 | 33,758 | 77,305 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 63,859 | 114,932 | 258,626 |
Net Income (Loss) Attributable to Noncontrolling Interest | (36) | 85 | 1,141 |
Net income attributable to Core Laboratories N.V. | $ 63,895 | $ 114,847 | $ 257,485 |
EARNINGS PER SHARE INFORMATION: | |||
Earnings Per Share, Basic | $ 1.47 | $ 2.69 | $ 5.80 |
Earnings Per Share, Diluted | 1.46 | 2.68 | 5.77 |
Cash dividends per share | $ 2.20 | $ 2.20 | $ 2 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
Weighted Average Number of Shares Outstanding, Basic | 43,479 | 42,747 | 44,362 |
Weighted Average Number of Shares Outstanding, Diluted | 43,670 | 42,908 | 44,600 |
Consolidated Statement of Other
Consolidated Statement of Other Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 63,859 | $ 114,932 | $ 258,626 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax | (293) | (1,471) | (1,327) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | 339 | 83 | (1,082) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 829 | 971 | 245 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | (197) | 583 | 0 |
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax | (17) | 1,151 | (4,399) |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit), Tax | 0 | 0 | 1,024 |
Defined Benefit Plan, Amortization of Transition Obligations (Assets) | 0 | (96) | (87) |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | (81) | (85) | 7 |
Defined Benefit Plan, Amortization of Gains (Losses) | 593 | 727 | 540 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax | (124) | (424) | 729 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 371 | 1,273 | (2,186) |
Other Comprehensive Income (Loss), Net of Tax | 710 | 1,356 | (3,268) |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 64,569 | 116,288 | 255,358 |
Net Income (Loss) Attributable to Noncontrolling Interest | (36) | 85 | 1,141 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 64,605 | $ 116,203 | $ 254,217 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] |
Common Stock, Shares, Outstanding at Dec. 31, 2013 | 46,750,002 | 1,648,613 | |||||
Common Stock, Value, Issued at Dec. 31, 2013 | $ 169,389,000 | $ 1,203,000 | $ 0 | $ 415,930,000 | $ (8,626,000) | $ (245,184,000) | $ 6,066,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | (216,395) | |||||
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 20,470,000 | $ 0 | 1,295,000 | (12,683,000) | 0 | $ 31,858,000 | 0 |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 3,020,000 | 0 | 3,020,000 | 0 | 0 | 0 | 0 |
Stock Repurchased During Period, Value | (264,368,000) | $ 0 | 0 | 0 | 0 | $ (264,368,000) | 0 |
Stock Repurchased During Period, Shares | 0 | 1,680,800 | |||||
Dividends | (89,089,000) | $ 0 | 0 | (89,089,000) | 0 | $ 0 | 0 |
Proceeds from Issuance of Common Stock | 0 | ||||||
Treasury Stock, Retired, Cost Method, Amount | 0 | $ (29,000) | (4,315,000) | (155,737,000) | 0 | $ 160,081,000 | 0 |
Treasury Stock, Shares, Retired | (1,150,000) | (1,150,000) | |||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (787,000) | $ 0 | 0 | 0 | 0 | $ 0 | (787,000) |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||||||
Other Comprehensive Income (Loss), Net of Tax | 3,268,000 | 0 | 0 | 0 | (3,268,000) | 0 | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 258,626,000 | 0 | 0 | 257,485,000 | 0 | 0 | |
Net Income (Loss) Attributable to Noncontrolling Interest | 1,141,000 | 1,141,000 | |||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 255,358,000 | ||||||
Common Stock, Value, Issued Period End at Dec. 31, 2014 | 93,993,000 | $ 1,174,000 | 0 | 415,906,000 | (11,894,000) | $ (317,613,000) | 6,420,000 |
Common Stock, Shares, Outstanding Period End at Dec. 31, 2014 | 45,600,002 | 1,963,018 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | (183,455) | |||||
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 21,279,000 | $ 0 | 3,267,000 | (11,044,000) | 0 | $ 29,056,000 | 0 |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | (175,000) | 0 | (175,000) | 0 | 0 | 0 | 0 |
Stock Repurchased During Period, Value | (159,709,000) | $ 0 | 0 | 0 | 0 | $ (159,709,000) | 0 |
Stock Repurchased During Period, Shares | 0 | 1,444,534 | |||||
Dividends | (94,235,000) | $ 0 | 0 | (94,235,000) | 0 | $ 0 | 0 |
Proceeds from Issuance of Common Stock | 0 | ||||||
Treasury Stock, Retired, Cost Method, Amount | 0 | $ (32,000) | (3,092,000) | (206,267,000) | 0 | $ 209,391,000 | 0 |
Treasury Stock, Shares, Retired | (1,250,000) | (1,250,000) | |||||
Stockholders' Equity, Other | (1,140,000) | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ 0 | 0 | 0 | 0 | $ 0 | (1,140,000) | |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||||||
Other Comprehensive Income (Loss), Net of Tax | (1,356,000) | 0 | 0 | 0 | 1,356,000 | 0 | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 114,932,000 | 0 | 0 | 114,847,000 | 0 | 0 | |
Net Income (Loss) Attributable to Noncontrolling Interest | 85,000 | 85,000 | |||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 116,288,000 | ||||||
Common Stock, Value, Issued Period End at Dec. 31, 2015 | $ (23,699,000) | $ 1,142,000 | 0 | 219,207,000 | (10,538,000) | $ (238,875,000) | 5,365,000 |
Common Stock, Shares, Outstanding Period End at Dec. 31, 2015 | 42,375,905 | 44,350,002 | 1,974,097 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | (141,106) | |||||
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | $ 22,079,000 | $ 0 | (197,000) | 0 | 0 | $ 22,276,000 | 0 |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | (1,162,000) | 0 | (1,162,000) | 0 | 0 | 0 | 0 |
Stock Repurchased During Period, Value | (7,161,000) | $ 0 | 0 | 0 | 0 | $ (7,161,000) | 0 |
Stock Repurchased During Period, Shares | 0 | 62,000 | |||||
Dividends | (95,145,000) | $ 0 | 0 | (95,145,000) | 0 | $ 0 | 0 |
Stock Issued During Period, Shares, New Issues | 1,696,250 | 0 | |||||
Proceeds from Issuance of Common Stock | 197,202,000 | $ 38,000 | 197,164,000 | 0 | 0 | $ 0 | 0 |
Treasury Stock, Retired, Cost Method, Amount | $ 0 | $ (32,000) | (142,955,000) | 0 | 0 | $ 142,987,000 | 0 |
Treasury Stock, Shares, Retired | 1,250,000 | (1,250,000) | (1,250,000) | ||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ (1,386,000) | $ 0 | 0 | 0 | 0 | $ 0 | (1,386,000) |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||||||
Other Comprehensive Income (Loss), Net of Tax | (710,000) | 0 | 0 | 0 | 710,000 | 0 | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 63,859,000 | 0 | 0 | 63,895,000 | 0 | 0 | |
Net Income (Loss) Attributable to Noncontrolling Interest | (36,000) | (36,000) | |||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 64,569,000 | ||||||
Common Stock, Value, Issued Period End at Dec. 31, 2016 | $ 155,297,000 | $ 1,148,000 | $ 52,850,000 | $ 187,957,000 | $ (9,828,000) | $ (80,773,000) | $ 3,943,000 |
Common Stock, Shares, Outstanding Period End at Dec. 31, 2016 | 44,151,261 | 44,796,252 | 644,991 |
Statement of Cash Flows
Statement of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 63,859 | $ 114,932 | $ 258,626 |
Adjustments to reconcile income to net cash provided by operating activities: | |||
Share-based Compensation | 22,079 | 21,279 | 20,470 |
Depreciation and amortization | 26,872 | 27,457 | 26,696 |
Debt issuance costs amortization and finance charges | 501 | 702 | 445 |
(Increase) decrease in value of life insurance policies | (824) | 909 | (1,581) |
Increase (Decrease) in Deferred Income Taxes | (14,385) | (107) | 4,682 |
Asset Impairment Charges | 0 | 5,199 | 0 |
Provision for Doubtful Accounts | (18) | 2,592 | 1,243 |
Other Noncash Income (Expense) | (1,399) | (860) | (466) |
Changes in assets and liabilities, net of effects of acquisitions: | |||
Accounts receivable | 31,584 | 49,261 | 3,486 |
Inventories | 6,219 | 3,049 | 2,894 |
Prepaid expenses and other current assets | 2,657 | 7,744 | (10,088) |
Increase (Decrease) in Deferred Revenue | 1,589 | 3,092 | 121 |
Other assets | 340 | 2,652 | 680 |
Accounts payable | (1,036) | (13,353) | (3,021) |
Accrued expenses | (6,738) | (9,723) | (2,611) |
Other long-term liabilities | 587 | 4,275 | 1,873 |
Net cash provided by operating activities | 131,887 | 219,100 | 303,449 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Capital expenditures | (11,356) | (22,797) | (36,586) |
Patents and other intangibles | (348) | (1,460) | (854) |
Acquisitions, net of cash acquired | (1,242) | (13,774) | (1,200) |
Proceeds from sale of assets | 740 | 1,320 | 884 |
Premiums on life insurance | (2,515) | (2,943) | (4,310) |
Net cash used in investing activities | (14,721) | (39,654) | (42,066) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Repayment of debt borrowings | (316,244) | (139,656) | (128,162) |
Proceeds from debt borrowings | 99,000 | 215,000 | 217,000 |
Excess tax benefits from stock-based payments | (1,162) | (175) | 3,020 |
Debt financing costs | 0 | (387) | (1,128) |
Non-controlling interest - dividend | (1,386) | (1,140) | (394) |
Dividends paid | (95,145) | (94,235) | (89,089) |
Repurchase of common shares | (7,161) | (159,709) | (264,368) |
Proceeds from Issuance of Common Stock | 197,202 | 0 | 0 |
Net cash used in financing activities | (124,896) | (180,302) | (263,121) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (7,730) | (856) | (1,738) |
Cash and Cash Equivalents, at Carrying Value | 14,764 | 22,494 | 23,350 |
Cash payments for interest | 11,248 | 12,313 | 10,272 |
Cash payments for income taxes | 12,181 | 35,523 | 79,644 |
Non-cash investing and financing activities: | |||
Financed capital expenditures | 1,627 | 483 | 1,009 |
Insurance premium financed | $ 0 | $ 2,228 | $ 0 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2016 | |
Description of Business [Abstract] | |
Business Description and Basis of Presentation [Text Block] | Core Laboratories N.V. ("Core Laboratories", "we", "our" or "us") is a Netherlands limited liability company. We were established in 1936 and are one of the world's leading providers of proprietary and patented reservoir description, production enhancement and reservoir management services to the oil and gas industry. These services are directed toward enabling our clients to improve reservoir performance and increase oil and gas recovery from their producing fields. We have over 70 offices in more than 50 countries and have approximately 4,400 employees. We operate our business in three reportable segments. These complementary segments provide different services and products and utilize different technologies for improving reservoir performance and increasing oil and gas recovery from new and existing fields: (1) Reservoir Description, (2) Production Enhancement and (3) Reservoir Management. For a description of product types and services offered by these business segments, see Note 18 - |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Principles of Consolidation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP" or "GAAP"), and include the accounts of Core Laboratories and its subsidiaries for which we have a controlling voting interest and/or a controlling financial interest. The equity method of accounting is used to record our interest in investments in which we have less than a majority interest and do not exercise control but do exert significant influence. We use the cost method to record certain other investments in which we own less than 20% of the outstanding equity and do not exercise control or exert significant influence. We record non-controlling interest associated with consolidated subsidiaries that are less than 100% owned. All inter-company transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We evaluate our estimates on an ongoing basis and utilize our historical experience, as well as various other assumptions that we believe are reasonable in a given circumstance, in order to make these estimates. Actual results could differ from our estimates, as assumptions and conditions change. The following accounts, among others, require us to use critical estimates and assumptions: ▪ allowance for doubtful accounts; ▪ inventory reserves; ▪ depreciation and amortization; ▪ long-lived assets, intangibles and goodwill; ▪ income taxes; ▪ pensions and other postretirement benefits; and ▪ stock-based compensation. Accounting policies relating to these accounts and the nature of these estimates are further discussed under the applicable caption. For each of these critical estimates it is at least reasonably possible that changes in these estimates will occur in the short term which may impact our financial position or results of operations. Cash and Cash Equivalents Cash and cash equivalents include all short-term, highly liquid instruments purchased with an original maturity of three months or less. These items are carried at cost, which approximates fair value. Concentration of Credit Risk Our financial instruments that potentially subject us to concentrations of credit risk relate primarily to cash and cash equivalents and trade accounts receivable. All cash and cash equivalents are on deposit at commercial banks or investment firms with significant financial resources. Our trade receivables are with a variety of domestic, international and national oil and gas companies. We had no clients who provided more than 10% of our revenue for the years ended December 31, 2016 , 2015 and 2014 . We consider our credit risk related to trade accounts receivable to be limited due to the creditworthiness and financial resources of our clients. We evaluate our estimate of the allowance for doubtful accounts on an on-going basis throughout the year. Concentration of Interest Rate Risk We are exposed to interest rate risk on our revolving credit facility (the "Credit Facility") debt, which carries a variable interest rate. We are exposed to interest rate risk on our Senior Notes which carry a fixed interest rate, but whose fair value will fluctuate based on changes in interest rates and market perception of our credit risk. Derivative Instruments We may enter into a variety of derivative instruments in connection with the management of our exposure to fluctuations in interest rates or currency exchange rates. See Note 14 - Derivative Instruments and Hedging Activities . We do not enter into derivatives for speculative purposes. Accounts Receivable Trade accounts receivable are recorded at their invoiced amounts and do not bear interest. We perform ongoing credit evaluations of our clients and monitor collections and payments in order to maintain a provision for estimated uncollectible accounts based on our historical collection experience and our current aging of client receivables outstanding, in addition to client's representations and our understanding of the economic environment in which our clients operate. Based on our review we establish or adjust allowances for specific clients and the accounts receivable as a whole, and recognize expense. When an account is determined to be uncollectible, we charge the receivable to our allowance for doubtful accounts. Our allowance for doubtful accounts totaled $3.1 million and $4.1 million at December 31, 2016 and 2015 , respectively. The net carrying value of accounts receivable is considered to be representative of its respective fair value. Inventories Inventories consist of manufactured goods, materials and supplies used for sales or services to clients. Inventories are stated at the lower of cost or estimated net realizable value. Inventory costs are recorded at standard cost which approximates the first-in, first-out method. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are comprised primarily of prepaid insurance, value added taxes and prepaid rents. Prior to 2016, this account also included current deferred income taxes. On January 1, 2016, we early adopted ASU 2015-17 ("Balance Sheet Classification of Deferred Taxes") issued by the FASB in November 2015 to simplify the presentation of deferred income taxes. The amendments in this update require that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. As we applied the adoption prospectively, the comparative prior period Consolidated Balance Sheet as of December 31, 2015 has not been retrospectively adjusted. The adoption of this standard had no effect on our current Consolidated Statements of Operations and Consolidated Statements of Cash Flows. Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. Major renewals and improvements are capitalized while maintenance and repair costs are charged to expense as incurred. They are depreciated using the straight-line method based on their individual estimated useful lives, except for leasehold improvements, which are depreciated over the remaining lease term, if shorter. We estimate the useful lives and salvage values of our assets based on historical data as follows: Buildings and leasehold improvements 3 - 40 years Machinery and equipment 3 - 10 years When long-lived assets are sold or retired, the remaining costs and related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in income. These capitalized long-lived assets could become impaired if our operating plans or business environment changes. We review our long-lived assets, including definite-lived intangible assets, for impairment when events or changes in circumstances indicate that their net book value may not be recovered over their remaining service lives. Indicators of possible impairment may include significant declines in activity levels in regions where specific assets or groups of assets are located, extended periods of idle use, declining revenue or cash flow or overall changes in general market conditions. Whenever possible impairment is indicated, we compare the carrying value of the assets to the sum of the estimated undiscounted future cash flows expected from use, plus salvage value, less the costs of the subsequent disposition of the assets. If impairment is still indicated, we compare the fair value of the assets to the carrying amount, and recognize an impairment loss for the amount by which the carrying value exceeds the fair value. We did not record any material impairment charges relating to our long-lived assets held for use during the years ended December 31, 2016 , 2015 or 2014 . Intangibles and Goodwill Intangible assets, including patents, trademarks, and trade names, are carried at cost less accumulated amortization. Intangibles with determinable lives are amortized using the straight-line method based on the estimated useful life of the intangible. Intangibles with indeterminable lives, which consist primarily of corporate trade names, are not amortized, but are tested for impairment annually or whenever events or changes in circumstances indicate that impairment is possible. We record goodwill as the excess of the purchase price over the fair value of the net assets acquired in acquisitions accounted for under the purchase method of accounting. We test goodwill for impairment annually, or more frequently if circumstances indicate possible impairment. We evaluated our goodwill for impairment by comparing the fair value of each of our reporting units, which are our reportable segments, to their net carrying value as of the balance sheet date. We estimated the fair value of each reporting unit using a discounted future cash flow analysis. Estimated future cash flows were based on the Company's best estimate of future performance. Our impairment analysis is quantitative; however, it includes subjective estimates based on assumptions regarding future growth rates, interest rates and operating expenses. If the carrying value of the reporting unit exceeds the fair value determined, an impairment loss is recorded to the extent that the implied fair value of the goodwill of the reporting unit is less than its carrying value. Any subsequent impairment loss could result in a material adverse effect upon our financial position and results of operations. We did not record impairment charges relating to our goodwill or our indefinite-lived intangible assets during the years ended December 31, 2016 , 2015 or 2014 . We have never identified nor recorded any impairments relating to the goodwill of our current continuing operations. Other Assets Cash surrender value of life insurance relates to postretirement benefit plans. See Note 10 - Pension and Other Postretirement Benefit Plans . Investments include unconsolidated affiliates accounted for under the equity method where the operations of these entities are in-line with those of our core businesses. These entities are not considered special purpose entities nor do we have special off-balance sheet arrangements through these entities. Other assets consisted of the following (in thousands): 2016 2015 Cash surrender value of life insurance $ 39,059 $ 36,087 Investments in unconsolidated affiliates 3,224 2,719 Other 4,841 4,801 Total other assets $ 47,124 $ 43,607 Accounts Payable Trade accounts payable are recorded at their invoiced amounts and do not bear interest. The carrying value of accounts payable is considered to be representative of its respective fair value. Income Taxes We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Consolidated Financial Statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the asset is recovered or the liability is settled. We include interest and penalties from tax judgments in income tax expense. We record a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in our tax return. We also recognize interest and penalties, if any, related to unrecognized tax benefits in income tax expense. See Note 9 - Income Taxes . Comprehensive Income Comprehensive income is comprised of net income and other charges or credits to equity that are not the result of transactions with owners. Other comprehensive income consists of prior service costs and an unrecognized net actuarial gain and loss from a pension plan and changes in the fair value of our interest rate swaps. See Note 10 - Pension and Other Postretirement Benefit Plans and Note 14 - Derivative Instruments and Hedging Activities . Revenue Recognition We recognize revenue when we determine that the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services have been rendered; (iii) the fee is fixed or determinable; and (iv) collectability is reasonably assured. Services Revenue : We provide a variety of services to clients in the oil and gas industry. Where services are provided related to the testing and analysis of rock and fluids, we recognize revenue upon the provision of the test results or analysis to the client. For our design, field engineering and completion diagnostic services, we recognize revenue upon the delivery of those services at the well site. In the case of our consortium studies, revenue is recognized when the reservoir model solution is presented to our clients. We conduct testing and provide analysis services in support of our consortium studies recognizing revenue as the testing and analysis results are made available to our consortium members. Product Sales Revenue : We manufacture equipment that we sell to our clients in the oil and gas well industry. Revenue is recognized when title to that equipment passes to the client, which is typically when the product is shipped to the client or picked up by the client at our facilities, as set out in the contract. All advance client payments are classified as unearned revenue until services are performed or product title is transferred. Foreign Currencies Our functional currency is the U.S. Dollar ("USD"). All inter-company financing, transactions and cash flows of our subsidiaries are transacted in USD. Our foreign entities remeasure monetary assets and liabilities to USD at year-end exchange rates, while non-monetary items are measured at historical rates. Revenue and expenses are remeasured at the applicable month-end rate, except for depreciation, amortization and certain components of cost of sales, which are measured at historical rates. For the year ended December 31, 2016 , we incurred a net remeasurement loss of approximately $1.8 million , while in the year ended December 31, 2015 , we incurred a net remeasurement loss of approximately $4.5 million , and a net remeasurement loss of approximately $4.2 million in the year ended December 31, 2014 . These amounts were included in Other (Income) Expense, net in the accompanying Consolidated Statements of Operations. Pensions and Other Postretirement Benefits We provide a non-contributory defined benefit pension plan covering substantially all of our Dutch employees ("Dutch Plan") who were hired prior to 2007. As required by current accounting standards, we recognize net periodic pension costs associated with the Dutch plan in income from current operations and recognize the unfunded status of the plan, if any, as a long-term liability. In addition, we recognize as a component of other comprehensive income, the gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic pension cost. The projection of benefit obligation and fair value of plan assets requires the use of assumptions and estimates. Actual results could differ from those estimates. See Note 10 - Pension and Other Postretirement Benefit Plans . Furthermore, we maintain defined contribution plans for the benefit of eligible employees primarily in Canada, The Netherlands, the United Kingdom. and the United States. We expense these contributions in the period the contribution is made. Non-controlling Interests We maintain non-controlling interests in several investment ventures and disclose such interests clearly as a portion of equity separate from the parent's equity. The amount of consolidated net income attributable to these non-controlling interests must also be clearly presented on the Consolidated Statements of Operations. In addition, when a subsidiary is deconsolidated, any retained non-controlling equity investment in the former subsidiary will be initially measured at fair value and recorded as a gain or loss. Stock-Based Compensation We have two stock-based compensation plans, as described in further detail in Note 13 - Stock-Based Compensation . For new awards issued and awards modified, repurchased or canceled, the compensation expense is equal to the fair value of the award at the date of the grant and is recognized in the Consolidated Statements of Operations for those awards earned over the requisite service period of the award. Earnings Per Share We compute basic earnings per common share by dividing net income attributable to Core Laboratories N.V. by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common share include additional shares in the weighted average share calculations associated with the incremental effect of dilutive employee stock options, restricted stock awards and contingently issuable shares, as determined using the treasury stock method. The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share (in thousands): For the Years Ended December 31, 2016 2015 2014 Weighted average basic common shares outstanding 43,479 42,747 44,362 Effect of dilutive securities: Performance shares 127 98 110 Restricted stock 64 63 128 Weighted average diluted common and potential common shares outstanding 43,670 42,908 44,600 |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Acquisitions [Abstract] | |
Business Combination Disclosure [Text Block] | We had no significant acquisitions during the year ended December 31, 2016. In 2015, we acquired a business providing additional reservoir fluids technology which was accounted for by allocating the purchase price to the net assets acquired based on their estimated fair values at the date of acquisition. The acquisition of this entity did not have a material impact on our Consolidated Balance Sheets or Consolidated Statements of Operations, and was recorded in the Reservoir Description business segment. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2016 | |
INVENTORIES [Abstract] | |
Inventory Disclosure [Text Block] | Inventories consisted of the following at December 31, 2016 and 2015 (in thousands): 2016 2015 Finished goods $ 21,635 $ 25,778 Parts and materials 11,185 12,637 Work in progress 900 2,491 Total inventories $ 33,720 $ 40,906 We include freight costs incurred for shipping inventory to our clients in the Cost of product sales caption in the accompanying Consolidated Statements of Operations |
Property Plant and Equipment
Property Plant and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | The components of property, plant and equipment, net were as follows at December 31, 2016 and 2015 (in thousands): 2016 2015 Land $ 7,883 $ 7,894 Building and leasehold improvements 114,522 111,740 Machinery and equipment 256,742 263,858 Total property, plant and equipment 379,147 383,492 Less - accumulated depreciation (249,265 ) (240,281 ) Property, plant and equipment, net $ 129,882 $ 143,211 |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2016 | |
Intangibles [Abstract] | |
Intangible Assets Disclosure [Text Block] | The components of intangibles, net as of December 31, 2016 and 2015 are as follows (in thousands): 2016 2015 Original life in years Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Acquired trade secrets 2-20 $ 3,390 $ 1,405 $ 3,065 $ 1,086 Acquired patents and trademarks 4-10 5,043 1,809 7,869 4,677 Agreements not to compete 3-5 839 690 894 586 Acquired trade names Indefinite 4,568 — 4,562 — Total intangibles, net $ 13,840 $ 3,904 $ 16,390 $ 6,349 Our estimated amortization expense relating to these intangibles for the next five years is summarized in the following table (in thousands): 2017 $ 1,008 2018 $ 967 2019 $ 861 2020 $ 703 2021 $ 613 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill [Abstract] | |
Goodwill Disclosure [Text Block] | The changes in the carrying amount of goodwill for each reportable segment for the years ended December 31, 2016 , and 2015 were as follows (in thousands): Reservoir Description Production Enhancement Reservoir Management Total Balance at December 31, 2014 $ 82,059 $ 79,560 $ 2,845 $ 164,464 Goodwill acquired during the year 13,695 — — 13,695 Balance at December 31, 2015 95,754 79,560 2,845 178,159 Goodwill acquired during the year 885 — — 885 Balance at December 31, 2016 $ 96,639 $ 79,560 $ 2,845 $ 179,044 |
Debt and Capital Lease Obligati
Debt and Capital Lease Obligations | 12 Months Ended |
Dec. 31, 2016 | |
Debt [Abstract] | |
Debt and Capital Leases Disclosures [Text Block] | We have no capital lease obligations. Debt at December 31, 2016 and 2015 is summarized in the following table (in thousands): December 31, 2016 December 31, 2015 Senior Notes $ 150,000 $ 150,000 Credit Facility 68,000 283,000 Other indebtedness — 2,244 Total debt 218,000 435,244 Less: Short-term debt included in other indebtedness — (2,244 ) Less: Debt issuance costs (1,512 ) (2,013 ) Long-term debt, net $ 216,488 $ 430,987 In 2011, we issued two series of senior notes with an aggregate principal amount of $150 million ("Senior Notes") in a private placement transaction. Series A consists of $75 million in aggregate principal amount of notes that bear interest at a fixed rate of 4.01% and are due in full on September 30, 2021 . Series B consists of $75 million in aggregate principal amount of notes that bear interest at a fixed rate of 4.11% and are due in full on September 30, 2023 . Interest on each series of the Senior Notes is payable semi-annually on March 30 and September 30. In 2015, we entered into an agreement to amend our Credit Facility to increase the aggregate borrowing capacity from $350 million to $400 million and to keep the uncommitted availability of an additional $ 50 million to bring the total borrowings available to $450 million if certain prescribed conditions are met by the Company. The Credit Facility bears interest at variable rates from LIBOR plus 1.25% to a maximum of LIBOR plus 2.0% . Any outstanding balance under the Credit Facility is due August 29, 2019 , when the Credit Facility matures. Interest payment terms are variable depending upon the specific type of borrowing under this facility. Our available capacity at any point in time is subject to all terms of the agreements, and is reduced by borrowings outstanding at the time and outstanding letters of credit which totaled $25.8 million at December 31, 2016 , resulting in an available borrowing capacity under the Credit Facility of $306.2 million . In addition to those items under the Credit Facility, we had $15.0 million of outstanding letters of credit and performance guarantees and bonds from other sources as of December 31, 2016 . The terms of the Credit Facility and Senior Notes require us to meet certain covenants, including, but not limited to, an interest coverage ratio (consolidated EBITDA divided by interest expense) and a leverage ratio (consolidated net indebtedness divided by consolidated EBITDA), where consolidated EBITDA (as defined in each agreement) and interest expense are calculated using the most recent four fiscal quarters. The Credit Facility has the more restrictive covenants with a minimum interest coverage ratio of 3.0 to 1.0 and a maximum leverage ratio of 2.5 to 1.0. We believe that we are in compliance with all such covenants contained in our credit agreements. Certain of our material, wholly-owned subsidiaries are guarantors or co-borrowers under the Credit Facility and Senior Notes. In 2014, we entered into two interest rate swap agreements to hedge changes in the variable interest rate on our LIBOR-priced debt. See Note 14 - Derivative Instruments and Hedging Activities for discussion of our derivative instruments. Other indebtedness at December 31, 2015 includes approximately $2.2 million of debt incurred relating to the financing of our corporate insurance. We did not finance our corporate insurance in 2016. The estimated fair value of total debt at December 31, 2016 and 2015 approximated the book value of total debt. The fair value was estimated using Level 2 inputs by calculating the sum of the discounted future interest and principal payments through the date of maturity. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
Income Tax Disclosure [Text Block] | The components of income before income tax expense for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 United States $ 34,723 $ 55,143 $ 154,943 Other countries 39,884 93,547 180,988 Income before income tax expense $ 74,607 $ 148,690 $ 335,931 The components of income tax expense for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 Current: United States $ (2,469 ) $ 17,257 $ 44,350 Other countries 16,533 14,629 23,546 State and provincial 600 1,979 4,727 Total current 14,664 33,865 72,623 Deferred: United States 1,844 (2,905 ) 2,801 Other countries (5,845 ) 2,947 1,675 State and provincial 85 (149 ) 206 Total deferred (3,916 ) (107 ) 4,682 Income tax expense $ 10,748 $ 33,758 $ 77,305 The differences in income tax expense computed using The Netherlands statutory income tax rate of 25% , 25% and 25% in 2016 , 2015 and 2014 , respectively, and our income tax expense as reported in the accompanying Consolidated Statements of Operations for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 Tax at The Netherlands income tax rate $ 18,652 $ 37,173 $ 83,983 International earnings taxed at rates other than The Netherlands statutory rate (16,840 ) (14,066 ) (6,721 ) Non-deductible expenses 2,936 2,832 2,807 Change in valuation allowance (899 ) 3,625 1,150 State and provincial taxes 600 1,133 3,339 Adjustments of prior year taxes 2,412 483 (2,973 ) Adjustments of income tax reserves (604 ) (1,205 ) (1,570 ) Foreign exchange 3,381 4,358 1,659 Other 1,110 (575 ) (4,369 ) Income tax expense $ 10,748 $ 33,758 $ 77,305 Deferred tax assets and liabilities result from various temporary differences between the financial statement carrying amount and their tax basis. Deferred tax assets and liabilities as of December 31, 2016 and 2015 are summarized as follows (in thousands): 2016 2015 Deferred tax assets: Net operating loss carry-forwards $ 9,885 $ 8,045 Tax credit carry-forwards 2,925 934 Accruals for compensation 14,573 14,937 Accruals for inventory capitalization 2,587 2,738 Unrealized benefit plan loss 4,931 5,571 Unrealized foreign exchange 7,221 7,994 Other 3,208 3,247 Total deferred tax assets 45,330 43,466 Valuation allowance (1) (9,963 ) (10,862 ) Net deferred tax asset 35,367 32,604 Deferred tax liabilities: Intangibles (7,061 ) (5,876 ) Property, plant and equipment (5,774 ) (8,372 ) Accrued interest — (10,111 ) Unrealized foreign exchange (4,206 ) (6,421 ) Other (3,998 ) (1,579 ) Total deferred tax liabilities (21,039 ) (32,359 ) Net deferred income taxes $ 14,328 $ 245 2016 2015 Current deferred tax assets $ — $ 3,164 Current deferred tax liabilities — (9,731 ) Long-term deferred tax assets 20,605 11,693 Long-term deferred tax liabilities (6,277 ) (4,881 ) Total deferred tax assets (liabilities) $ 14,328 $ 245 (1) Valuation allowance at 12/31/14 was $7.2 million. We have not provided for deferred taxes on the unremitted earnings of certain subsidiaries that we consider to be indefinitely reinvested. Should we make a distribution of the unremitted earnings of these subsidiaries, we may be required to record additional taxes. As of December 31, 2016 , we consider $ 281.0 million to be indefinitely reinvested. Repatriation of these earnings would be subject to income and withholding taxes estimated at approximately $ 26.6 million . There are no restrictions preventing any of our subsidiaries from repatriating earnings, and there are no restrictions or income taxes associated with distributing cash to the parent company through loans or advances. At December 31, 2016 , we had tax net operating loss carry-forwards in various tax jurisdictions of approximately $38.8 million . Although we cannot be certain that these operating loss carry-forwards will be utilized, we anticipate that we will have sufficient taxable income in future years to allow us to fully utilize the carry-forwards that are not subject to a valuation allowance. As of December 31, 2016 , if unused, $ 3.5 million will expire between 2017-2019, $ 5.0 million will expire between 2020-2022, $ 22.0 million will expire between 2023-2026 and $ 4.6 million will expire beyond 2026. The remaining balance of $ 3.7 million is not subject to expiration. During 2016 , $0.1 million of net operating loss carry-forwards, which carried a full valuation allowance, expired unused. We file income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. We are currently undergoing multiple examinations in various jurisdictions, and the years 1999 through 2015 remain open for examination in various tax jurisdictions in which we operate. The ultimate settlement and timing of these additional tax assessments is uncertain but the Company will continue to vigorously defend its return filing position and does not view the assessments as probable at this time. During 2016 , adjustments were made to estimates for uncertain tax positions in certain tax jurisdictions based upon changes in facts and circumstances, resulting in a reduction to the unrecognized tax benefits. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): 2016 2015 2014 Unrecognized tax benefits at January 1, $ 9,964 $ 11,747 $ 12,385 Tax positions, current period 983 1,044 1,441 Tax positions, prior period 83 (640 ) 56 Settlements with taxing authorities (1,657 ) (1,371 ) (947 ) Lapse of applicable statute of limitations (816 ) (816 ) (1,188 ) Unrecognized tax benefits at December 31, $ 8,557 $ 9,964 $ 11,747 Changes in our estimate of, or the recognition of, the unrecognized tax benefits shown in the table above would affect our effective tax rate. Our policy is to record accrued interest and penalties on uncertain tax positions, net of any tax effect, as part of total tax expense for the period. The corresponding liability is carried along with the tax exposure as a non-current payable in Other Long-term Liabilities. For the years ended December 31, 2016 , 2015 and 2014 , we recognized approximately $0.6 million , $(0.5) million and $(1.1) million respectively, in interest and penalties. For the years ended December 31, 2016 , 2015 and 2014 , we had approximately $2.7 million , $2.0 million and $2.5 million , respectively, accrued for the payment of interest and penalties. Changes in our estimate of unrecognized tax benefits would affect our effective tax rate. As of December 31, 2016, 2015, and 2014, there are $ 1.2 million , $ 2.4 million and $ 0.8 million , respectively, of unrecognized tax benefits that could be resolved within the next twelve months which could have a positive effect on the annual effective tax rate. |
Pension and Other Postretiremen
Pension and Other Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Pension and Other Postretirement Benefit Plans [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Defined Benefit Plan We provide a noncontributory defined benefit pension plan covering substantially all of our Dutch employees ("Dutch Plan") who were hired prior to 2007. This pension benefit is based on years of service and final pay or career average pay, depending on when the employee began participating. The benefits earned by the employees are immediately vested. We fund the future obligations of the Dutch Plan by purchasing insurance contracts from a large multi-national insurance company. The insurance contracts have a five -year maturity. Each year, as a contract expires, it is replaced with a new contract that is adjusted to include changes in the benefit obligation for the current year and redemption of the expired contract. We make annual premium payments to the insurance company based on each employee's age and current salary, and the contractual growth rate. We determine the fair value of these plan assets with the assistance of an actuary using observable inputs (Level 2), which approximates the contract value of the investments. The following table summarizes the change in the projected benefit obligation and the fair value of plan assets for the Dutch Plan for the years ended December 31, 2016 and 2015 (in thousands): 2016 2015 Projected Benefit Obligation: Projected benefit obligation at beginning of year $ 50,759 $ 59,338 Service cost 1,456 1,787 Interest cost 1,329 1,192 Benefits paid (1,139 ) (982 ) Administrative expenses (31 ) (169 ) Actuarial (gain) loss, net 5,225 (4,416 ) Unrealized (gain) loss on foreign exchange (1,517 ) (5,991 ) Projected benefit obligation at end of year $ 56,082 $ 50,759 Fair Value of Plan Assets: Fair value of plan assets at beginning of year $ 41,116 $ 47,528 Increase (decrease) in plan asset value 6,328 (2,279 ) Employer contributions 1,118 1,829 Benefits paid (1,139 ) (982 ) Administrative expenses (31 ) (169 ) Unrealized gain (loss) on foreign exchange (1,258 ) (4,811 ) Fair value of plan assets at end of year $ 46,134 $ 41,116 Under-funded status of the plan at end of the year $ (9,948 ) $ (9,643 ) Accumulated Benefit Obligation $ 47,980 $ 43,969 The following actuarial assumptions were used to determine the actuarial present value of our projected benefit obligation and the net periodic pension costs for the Dutch Plan at December 31, 2016 and 2015 : 2016 2015 Weighted average assumed discount rate 1.90% 2.60% Expected long-term rate of return on plan assets 1.90% 2.60% Weighted average rate of compensation increase 2.75% 3.00% The discount rate used to determine our projected benefit obligation at December 31, 2016 was decreased from 2.60% to 1.90% , consistent with a general decrease in interest rates in Europe for AAA-rated long-term Euro government bonds. Amounts recognized for the Dutch Plan in the Consolidated Balance Sheets for the years ended December 31, 2016 and 2015 consist of (in thousands): 2016 2015 Deferred tax asset $ 2,328 $ 2,660 Other long-term liabilities 9,948 9,643 Accumulated other comprehensive loss (9,169 ) (9,540 ) The components of net periodic pension cost for the Dutch Plan under this plan for the years ended December 31, 2016 , 2015 , and 2014 included (in thousands): 2016 2015 2014 Service cost $ 1,456 $ 1,787 $ 1,445 Interest cost 1,329 1,192 1,756 Expected return on plan assets (1,117 ) (986 ) (1,303 ) Unrecognized pension asset, net — (96 ) (87 ) Prior service cost (81 ) (85 ) 7 Unrecognized net actuarial loss 593 727 540 Net periodic pension cost $ 2,180 $ 2,539 $ 2,358 Plan assets at December 31, 2016 and 2015 consisted of insurance contracts with returns equal to the contractual rate, which are comparable with governmental debt securities. Our expected long-term rate of return assumptions are based on the weighted-average contractual rates for each contract. Dutch law dictates the minimum requirements for pension funding. Our goal is to meet these minimum funding requirements, while our insurance carrier invests to minimize risks associated with future benefit payments. Our 2017 minimum funding requirements are expected to be approximately $1.5 million . Our estimate of future annual contributions is based on current funding requirements, and we believe these contributions will be sufficient to fund the plan. Expected benefit payments to eligible participants under this plan for the next five years are as follows (in thousands): 2017 $ 1,118 2018 $ 1,156 2019 $ 1,169 2020 $ 1,275 2021 $ 1,356 Succeeding five years $ 8,147 Defined Contribution Plans We maintain defined contribution plans for the benefit of eligible employees primarily in Canada, The Netherlands, the United Kingdom, and the United States. In accordance with the terms of each plan, we and our participating employees contribute up to specified limits and under certain plans, we may make discretionary contributions in accordance with the defined contribution plans. Our primary obligation under these defined contribution plans is limited to paying the annual contributions. For the years ended December 31, 2016 , 2015 and 2014 , we paid approximately $6.1 million , $6.9 million and $7.9 million , respectively, for our contributions and our additional discretionary contributions to the defined contribution plans. Vesting in all employer contributions is accelerated upon the death of the participant or a change in control. Employer contributions under the plans are forfeited upon a participant’s termination of employment to the extent they are not vested at that time. Deferred Compensation Arrangements We have entered into deferred compensation contracts for certain key employees to provide additional retirement income to the participants. The benefit is determined by the contract for either a fixed amount or by a calculation using years of service or age at retirement along with the average of their base salary for the five years prior to retirement. We are not required to fund this arrangement; however, we have purchased life insurance policies with cash surrender values to assist us in providing the benefits pursuant to these deferred compensation contracts with the actual benefit payments made by Core Laboratories. The charge to expense for these deferred compensation contracts in 2016 , 2015 and 2014 was approximately $1.2 million , $1.7 million and $1.9 million , respectively. We provide severance compensation to certain current key employees if employment is terminated under certain circumstances, such as following a change in control or for any reason other than upon their death or disability, for “cause” or upon a material breach of a material provision of their employment agreement, as defined in their employment agreements. In addition, there are certain countries where we are legally required to make severance payments to employees when they leave our service. We have accrued for all of these severance payments, but they are not funded. We have also adopted a non-qualified deferred compensation plan (“Deferred Compensation Plan”) that allows certain highly compensated employees to defer a portion of their salary, commission and bonus, as well as the amount of any reductions in their deferrals under the Deferred Compensation Plan for employees in the United States, due to certain limitations imposed by the U.S. Internal Revenue Code of 1986, as amended (the “Code”). Contributions to the plan are invested in equity and other investment fund assets, and carried on the balance sheet at fair value. The benefits under these contracts are fully vested. Our primary obligation for the Deferred Compensation Plan is limited to our annual contributions. Employer contributions to the Deferred Compensation Plan were $0.2 million for the year ended December 31, 2016 and $0.3 million for each of the years ended December 31, 2015 and 2014 . Vesting in all employer contributions is accelerated upon the death of the participant or a change in control. Employer contributions under the plans are forfeited upon a participant's termination of employment to the extent they are not vested at that time. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | We have been and may from time to time be named as a defendant in legal actions that arise in the ordinary course of business. These include, but are not limited to, employment-related claims and contractual disputes or claims for personal injury or property damage which occur in connection with the provision of our services and products. A liability is accrued when a loss is both probable and can be reasonably estimated. During 2015, we recorded contingent liabilities in the amount of $8.6 million associated with these claims. After certain settlements in 2016, we had a contingent liability balance of $7.3 million remaining as of December 31, 2016. In 1998, we entered into employment agreements with our three senior executive officers that provide for deferred compensation benefits. The present value of the long-term liability recorded and fully reserved for the benefits due upon severing the employment of these employees is approximately $8.0 million at December 31, 2016 . We do not maintain any off-balance sheet debt or other similar financing arrangements nor have we formed any special purpose entities for the purpose of maintaining off-balance sheet debt. Scheduled minimum rental commitments under non-cancellable operating leases at December 31, 2016 , consist of the following (in thousands): 2017 $ 15,514 2018 11,557 2019 8,563 2020 6,330 2021 4,575 Thereafter 15,522 Total commitments $ 62,061 Operating lease commitments relate primarily to rental of equipment and office space. Rental expense for operating leases, including amounts for short-term leases with nominal future rental commitments, was approximately $20.3 million , $22.2 million and $24.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Common Shares On May 17, 2016 we completed a public offering of 1,475,000 shares of our common stock. The purchase price paid by the underwriter was $ 116.67 per share. On May 26, 2016, the underwriter exercised in full its option to purchase an additional 221,250 shares of common stock at the public offering price of $ 116.67 per share bringing the total shares issued from the offering to 1,696,250 . The net proceeds from these issuances of common stock were $ 197.2 million , after deducting underwriting discounts and offering expenses. The proceeds were used to repay a portion of the outstanding borrowings under our Credit Facility. Treasury Shares In connection with our initial public offering in September 1995, our shareholders authorized our Management Board to repurchase up to 10% of our issued share capital, the maximum allowed under Dutch law at the time, for a period of 18 months. This authorization was renewed at subsequent annual or special shareholder meetings. At our annual shareholders' meeting on May 19, 2016 , our shareholders authorized an extension to repurchase up to 10% of our issued share capital through November 19, 2017 . The repurchase of shares in the open market is at the discretion of management pursuant to this shareholder authorization. From the activation of the share repurchase program on October 29, 2002 through December 31, 2016 , pursuant to shareholder approvals, we have repurchased 39,373,745 shares for an aggregate purchase price of approximately $1.6 billion , or an average price of $41.20 per share and have canceled 33,475,406 shares with an historical cost of $1.2 billion . At December 31, 2016 , we held 644,991 shares in treasury with the authority to repurchase 3,834,634 additional shares under our stock repurchase program. Subsequent to year-end, we have repurchased 189 shares at a total cost of approximately $22.8 thousand . At the annual meeting of shareholders on May 19, 2016 , the shareholders approved the cancellation of 1,250,000 shares of our common stock then held as treasury shares. These treasury shares were canceled on August 2, 2016 , after the expiration of the waiting period required under Dutch law. In accordance with FASB Accounting Standards Codification ("ASC") 505-30-30-8, we charged the excess of the cost of the treasury stock over its par value to additional paid-in capital and retained earnings. Dividend Policy In February, May, August and November 2016 , we paid quarterly dividends of $0.55 per share of common stock. The total dividends paid in 2016 were $95.1 million . On January 10, 2017 , we declared a quarterly dividend of $0.55 per share of common stock payable February 17, 2017 to shareholders of record on January 20, 2017 . Accumulated Other Comprehensive Income (Loss) Amounts recognized, net of tax, in Accumulated other comprehensive income (loss) for the years ended December 31, 2016 and 2015 consist of (in thousands): 2016 2015 Prior service cost $ 600 $ 661 Unrecognized net actuarial loss and foreign exchange (9,769 ) (10,201 ) Fair value of derivatives (659 ) (998 ) Total Accumulated other comprehensive (loss) $ (9,828 ) $ (10,538 ) Unrecognized amounts currently recorded to Accumulated other comprehensive income (loss) that are expected to be recognized as components of next year's net pension benefit cost include $0.4 million of unrecognized net actuarial loss. |
Stock-based Compensation
Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Stock-based Compensation [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | We have granted restricted stock awards under two stock incentive plans: the 2014 Long-Term Incentive Plan and the 2014 Nonemployee Director Stock Incentive Plan. Awards under the following two compensation programs have been granted pursuant to both plans: (1) the Performance Share Award Program ("PSAP") and (2) the Restricted Share Award Program ("RSAP") and the Restricted Share Award Program for Nonemployee Directors (the "Program"). We issue shares from either treasury stock or authorized shares upon the lapsing of vesting restrictions on restricted stock. In 2016 , we issued 141,106 shares out of treasury stock relating to the vesting of restricted stock. We do not use cash to settle equity instruments issued under stock-based compensation awards. 2014 Long-Term Incentive Plan On May 13, 2014, the 2007 Long-Term Incentive Plan was amended, restated and renamed as the 2014 Long-Term Incentive Plan (the "Plan"). The primary changes effected by the 2014 amendment and restatement were to (a) extend the period during which awards may be granted under the Plan to May 12, 2024, and (b) increase the number of common shares subject to the Plan by 1,100,000 shares. The Plan, as amended, provides for a maximum of 11,900,000 common shares to be granted to eligible employees. At December 31, 2016 , approximately 1,214,983 shares remained available for the grant of new awards under the Plan. Specifically, we encourage share ownership by awarding various long-term equity incentive awards under the Plan, consisting of the PSAP and RSAP. We believe that widespread common share ownership by key employees is an important means of encouraging superior performance and employee retention. Additionally, our equity-based compensation programs encourage performance and retention by providing additional incentives for executives to further our growth, development and financial success over a longer time horizon by personally benefiting through the ownership of our common shares and/or rights. Performance Share Award Program On February 13, 2014, certain executives were awarded rights to receive an aggregate of 53,548 common shares if our calculated return on invested capital ("ROIC"), as defined in the PSAP, is in the top decile of the Bloomberg Comp Group at the end of the performance period, which ends on the last trading day of 2016, December 30, 2016. Unless there is a change in control as defined in the PSAP, none of these awards will vest if the specified performance target is not met as of the last day of the performance period. This arrangement is recorded as an equity award that requires us to recognize compensation expense totaling $9.0 million over the performance period that began on January 1, 2014, of which $3.0 million has been recognized annually in 2016, 2015, and 2014. At December 30, 2016, the Company had the highest ROIC compared to the Bloomberg Comp Group. The Compensation Committee of our Board of Supervisory Directors verified that the performance target criteria had been met and 51,348 shares vested ( 2,200 shares were forfeited by participants prior to the end of the performance period). We issued these common shares on December 30, 2016 and, simultaneously, the participants surrendered 19,400 common shares to settle any personal tax liabilities which may result from the award, as permitted by the agreement. We recorded these surrendered shares as treasury stock with an aggregate cost of $2.3 million at $ 120.04 per share. We have recognized an additional tax liability from the vesting of the PSAP of $1.1 million in 2016. On February 10, 2015, certain executives were awarded rights to receive an aggregate of 106,455 common shares if our calculated ROIC, as defined in the PSAP, is in the top decile of the Bloomberg Comp Group at the end of the performance period, which ends on the last trading day of 2017, December 29, 2017. Unless there is a change in control as defined in the PSAP, none of these awards will vest if the specified performance target is not met as of the last day of the performance period. This arrangement is recorded as an equity award that requires us to recognize compensation expense totaling $11.3 million over the performance period that began on January 1, 2015, of which $3.8 million has been recognized annually in 2016 and 2015. The unrecognized compensation expense is expected to be recognized over an estimated amortization period of 12 months. On February 16, 2016, certain executives were awarded rights to receive an aggregate of 122,515 common shares if our calculated ROIC, as defined in the PSAP, is in the top decile of the Bloomberg Comp Group at the end of the performance period, which ends on the last trading day of 2018, December 31, 2018. Unless there is a change in control as defined in the PSAP, none of these awards will vest if the specified performance target is not met as of the last day of the performance period. This arrangement is recorded as an equity award that requires us to recognize compensation expense totaling $11.7 million over the performance period that began on January 1, 2016, of which $3.9 million has been recognized in 2016. The unrecognized compensation expense is expected to be recognized over an estimated amortization period of 24 months. Restricted Share Award Program In 2004, the Compensation Committee of our Board of Supervisory Directors approved the RSAP to attract and retain the best employees, and to better align employee interests with those of our shareholders. Under this arrangement we awarded grants totaling 104,164 shares, 91,784 shares, and 80,983 shares in 2016 , 2015 , and 2014 , respectively. Each of these grants has a vesting period of principally six years and vests ratably on an annual basis. There are no performance accelerators for early vesting for these awards. Awards under the RSAP are classified as equity awards and recorded at the grant-date fair value with the compensation expense recognized over the expected life of the award. As of December 31, 2016 , there was $28.6 million of unrecognized total stock-based compensation relating to non-vested RSAP awards. The unrecognized compensation expense is expected to be recognized over an estimated weighted-average amortization period of 44 months. The grant-date fair value of shares granted was $10.0 million , $8.9 million and $15.0 million in 2016 , 2015 and 2014 , respectively and we have recognized compensation expense of $10.5 million , $10.4 million and $10.5 million in 2016 , 2015 and 2014 , respectively. The total grant-date fair value, which is the intrinsic value of the shares, vested was $9.9 million , $10.4 million and $10.4 million in 2016 , 2015 and 2014 , respectively. We have recognized a tax detriment from the vesting of the RSAP of $0.1 million in 2016 and tax benefits of $0.2 million and $2.9 million in 2015 and 2014 , respectively. 2014 Nonemployee Director Stock Incentive Plan On May 13, 2014, the 2006 Nonemployee Director Stock Option Plan was amended, restated and renamed as the 2014 Nonemployee Director Stock Incentive Plan (the "Director Plan"). The primary change effected by the 2014 amendment was to extend the period during which awards may be granted under the Director Plan to May 12, 2024. The Director Plan provides common shares for grant to our eligible Supervisory Directors. The maximum number of shares available for award under this plan is 1,400,000 common shares. As of December 31, 2016 approximately 551,058 shares remained available for issuance under the Director Plan. Only non-employee Supervisory Directors are eligible for these equity-based awards under the Director Plan. In 2011, the Compensation Committee of our Board of Supervisory Directors approved the restricted share award program (the "Program") to compensate our non-employee Supervisory Directors. Under this arrangement we awarded grants totaling 10,680 shares, 8,616 shares and 4,536 shares in 2016 , 2015 , and 2014 , respectively. Each of these grants has a vesting period of 3 years. There are no performance accelerators for early vesting for these awards. Awards under the Program are classified as equity awards and recorded at the grant-date fair value with compensation expense recognized over the expected life of the award. As of December 31, 2016 , there was $1.3 million of unrecognized total stock-based compensation relating to non-vested Program awards. The unrecognized compensation expense is expected to be recognized over an estimated weighted-average amortization period of 22 months. The grant-date fair value of shares granted was $1.1 million , $0.9 million and $0.9 million in 2016 , 2015 , and 2014 , respectively, and we have recognized compensation expense of $0.9 million , $0.9 million and $0.9 million in 2016 , 2015 , and 2014 , respectively. Stock-based Compensation Non-vested restricted share awards outstanding under both the Plan and the Director Plan as of December 31, 2016 and changes during the year were as follows: Number of Shares Weighted Average Grant Date Fair Value per Share Non-vested at December 31, 2015 463,604 $ 126.65 Granted 237,359 96.23 Vested (141,612 ) 139.82 Forfeited (13,737 ) 122.47 Non-vested at December 31, 2016 545,614 $ 110.11 For the years ended December 31, 2016 , 2015 and 2014 , stock-based compensation expense under both the Plan and the Director Plan recognized in the income statement is as follows (in thousands): 2016 2015 2014 Cost of product sales and services $ 10,073 $ 10,126 $ 10,331 General and administrative 12,006 11,153 10,139 Total stock-based compensation expense $ 22,079 $ 21,279 $ 20,470 |
Derivative Instruments (Notes)
Derivative Instruments (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | We are exposed to market risks related to fluctuations in interest rates. To mitigate these risks, we utilize derivative instruments in the form of interest rate swaps. We do not enter into derivative transactions for speculative purposes. Interest Rate Risk Series A of our Senior Notes bears interest at a fixed rate of 4.01% and Series B bears interest at a fixed rate of 4.11% . Our Credit Facility bears interest at variable rates from LIBOR plus 1.25% to a maximum of LIBOR plus 2.00% . We are subject to interest rate risk on the debt carried through our Credit Facility. In 2014, we entered into two interest rate swap agreements for a total notional amount of $50 million to hedge changes in the variable rate interest expense on $50 million of our existing or replacement LIBOR-priced debt. Under the first swap agreement of $25 million , we have fixed the LIBOR portion of the interest rate at 1.73% through August 29, 2019 , and under the second swap agreement of $25 million , we have fixed the LIBOR portion of the interest rate at 2.50% through August 29, 2024 . Each swap is measured at fair value and recorded in our consolidated balance sheet as a liability. They are designated and qualify as cash flow hedging instruments and are highly effective. Unrealized losses are deferred to shareholders' equity as a component of accumulated other comprehensive loss and are recognized in income as an increase to interest expense in the period in which the related cash flows being hedged are recognized in expense. At December 31, 2016 , we had fixed rate debt aggregating $200 million and variable rate debt aggregating $18 million , after taking into account the effect of the swaps. The fair values of outstanding derivative instruments are as follows (in thousands): Fair Value of Derivatives December 31, 2016 December 31, 2015 Balance Sheet Classification Derivatives designated as hedges: 5 yr Interest Rate Swap $ 211 $ 353 Other Liabilities 10 yr Interest Rate Swap 835 1,229 Other Liabilities $ 1,046 $ 1,582 The fair value of all outstanding derivatives was determined using a model with inputs that are observable in the market or can be derived from or corroborated by observable data. The effect of the interest rate swaps on the Consolidated Statements of Operations was as follows (in thousands): December 31, 2016 December 31, 2015 Income Statement Classification Derivatives designated as hedges: 5 yr Interest Rate Swap $ 316 $ 388 Interest Expense 10 yr Interest Rate Swap 513 583 Interest Expense $ 829 $ 971 |
Financial Instruments (Notes)
Financial Instruments (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Disclosures [Text Block] | The Company's only financial assets and liabilities which are measured at fair value on a recurring basis relate to certain aspects of the Company's benefit plans and our derivative instruments. We use the market approach to value certain assets and liabilities at fair value using significant other observable inputs (Level 2) with the assistance of a third party specialist. We do not have any assets or liabilities measured at fair value on a recurring basis using quoted prices in an active market (Level 1) or significant unobservable inputs (Level 3). Gains and losses related to the fair value changes in the deferred compensation assets and liabilities are recorded in General and Administrative Expenses in the Consolidated Statements of Operations. Gains and losses related to the fair value of the interest rate swaps are recorded in Other Comprehensive Income. The following table summarizes the fair value balances (in thousands): Fair Value Measurement at December 31, 2016 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trust assets (1) $ 25,530 $ — $ 25,530 $ — Liabilities: Deferred compensation plan $ 31,672 $ — $ 31,672 $ — 5 year interest rate swap 211 — 211 — 10 year interest rate swap 835 — 835 — $ 32,718 $ — $ 32,718 $ — Fair Value Measurement at December 31, 2015 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trust assets (1) $ 23,737 $ — $ 23,737 $ — Liabilities: Deferred compensation plan $ 29,155 $ — $ 29,155 $ — 5 year interest rate swap 353 — 353 — 10 year interest rate swap 1,229 — 1,229 — $ 30,737 $ — $ 30,737 $ — (1) Trust assets consist of the cash surrender value of life insurance policies and are intended to fund the deferred compensation agreements. |
Other (Income) Expense
Other (Income) Expense | 12 Months Ended |
Dec. 31, 2016 | |
Other (Income) Expense, net [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | The components of other (income) expense, net, are as follows (in thousands): For the Years Ended December 31, 2016 2015 2014 Sale of assets $ (618 ) $ (408 ) $ (764 ) Results of non-consolidated subsidiaries (506 ) (383 ) (364 ) Foreign exchange 1,832 4,507 4,230 Interest income — (56 ) (403 ) Rents and royalties (420 ) (484 ) (817 ) Insurance and other settlements — — (292 ) Other, net (630 ) 493 (521 ) Total other (income) expense, net $ (342 ) $ 3,669 $ 1,069 Foreign Currency Risk We operate in a number of international areas which exposes us to foreign currency exchange rate risk. We do not currently hold or issue forward exchange contracts or other derivative instruments for hedging or speculative purposes (a foreign exchange contract is an agreement to exchange different currencies at a given date and at a specified rate). Foreign exchange gains and losses are the result of fluctuations in the USD against foreign currencies and are included in other (income) expense, net in the Consolidated Statements of Operations. We recognized foreign exchange losses in countries where the USD weakened against the local currency and we had net monetary liabilities denominated in the local currency; as well as countries where the USD strengthened against the local currency and we had net monetary assets denominated in the local currency. We recognized foreign exchange gains in countries where the USD strengthened against the local currency and we had net monetary liabilities denominated in the local currency and in countries where the USD weakened against the local currency and we had net monetary assets denominated in the local currency. Foreign exchange gains and losses are summarized in the following table (in thousands): For the Years Ended December 31, (Gains) losses by currency 2016 2015 2014 Australian Dollar $ 136 $ 238 $ 289 British Pound 807 434 1,132 Canadian Dollar (137 ) 1,848 1,886 Euro (49 ) (908 ) (1,537 ) Malaysian Ringgit 43 545 278 Mexican Peso (47 ) 414 284 Nigerian Naira 200 630 432 Other currencies, net 879 1,306 1,466 Total (gain) loss, net $ 1,832 $ 4,507 4,230 |
Severance and Other Charges Sev
Severance and Other Charges Severance and Other Charges (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Severance and Other Charges [Abstract] | |
Severance and Other Charges [Text Block] | In 2015, in response to lower commodity pricing for crude oil and reduced spending by our clients on their oil and gas fields, we reduced our cost structure, primarily through a reduction in our workforce, to better align with the decreasing activity levels into the foreseeable future. As a result of these cost reductions, we recorded severance charges of $8.8 million , of which approximately $0.5 million were accrued and remaining to be paid at December 31, 2016. Additionally, in 2015 the Company recorded a charge to income associated with the impairment of certain equipment and intangible assets and facility exit costs of $5.5 million . During 2015, we recorded loss contingencies for various ongoing legal issues of $8.6 million . See Note 11 - Commitments and Contingencies . |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | We operate our business in three reportable segments. These complementary segments provide different services and products and utilize different technologies for improving reservoir performance and increasing oil and gas recovery from new and existing fields: (1) Reservoir Description, (2) Production Enhancement and (3) Reservoir Management. These business segments provide different services and products and utilize different technologies. • Reservoir Description : Encompasses the characterization of petroleum reservoir rock, fluid and gas samples. We provide analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry. • Production Enhancement : Includes services and products relating to reservoir well completions, perforations, stimulations and production. We provide integrated diagnostic services to evaluate the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects. • Reservoir Management : Combines and integrates information from reservoir description and production enhancement services to increase production and improve recovery of oil and gas from our clients' reservoirs. Results for these business segments are presented below. We use the same accounting policies to prepare our business segment results as are used to prepare our Consolidated Financial Statements. All interest and other non-operating income (expense) is attributable to Corporate & Other area and is not allocated to specific business segments. Summarized financial information concerning our segments is shown in the following table (in thousands): Reservoir Description Production Enhancement Reservoir Management Corporate & Other (1) Consolidated December 31, 2016 Revenues from unaffiliated clients $ 404,146 $ 164,027 $ 26,568 $ — $ 594,741 Inter-segment revenues 3,941 877 121 (4,939 ) — Segment operating income (loss) 75,148 8,891 2,043 97 86,179 Total assets (at end of period) 301,574 191,846 17,599 62,033 573,052 Capital expenditures 8,195 2,298 25 838 11,356 Depreciation and amortization 17,735 5,272 1,344 2,521 26,872 December 31, 2015 Revenues from unaffiliated clients $ 473,372 $ 267,224 $ 56,924 $ — $ 797,520 Inter-segment revenue 8,674 1,837 248 (10,759 ) — Segment operating income (loss) 111,032 35,027 15,655 (644 ) 161,070 Total assets (at end of period) 326,182 210,214 27,076 61,786 625,258 Capital expenditures 17,849 3,292 273 1,383 22,797 Depreciation and amortization 16,778 6,611 1,624 2,444 27,457 December 31, 2014 Revenue from unaffiliated clients $ 518,974 $ 467,577 $ 98,671 $ — $ 1,085,222 Inter-segment revenue 10,387 2,459 366 (13,212 ) — Segment operating income (loss) 143,624 165,204 37,220 483 346,531 Total assets (at end of period) 319,325 257,135 34,179 62,686 673,325 Capital expenditures 21,371 7,990 2,681 4,544 36,586 Depreciation and amortization 15,816 7,509 1,393 1,978 26,696 (1) "Corporate and other" represents those items that are not directly relating to a particular segment and eliminations. We are a Netherlands company and we derive our revenue from services and product sales to clients primarily in the oil and gas industry. No single client accounted for 10% or more of revenue in any of the periods presented. We attribute service revenue to the country in which the service was performed while we attribute product sales revenue to the country where the product was shipped as we feel this gives a clearer view of our operations. We do, however, have significant levels of revenue recorded in the U.S., where the services were performed, that are sourced from projects on non-U.S. oilfields. The following table shows a summary of our U.S. and non-U.S. operations (with 2013 revenue reclassified as described above) for December 31, 2016 , 2015 and 2014 (in thousands): GEOGRAPHIC INFORMATION United States Canada Other Countries (1) (2) Consolidated December 31, 2016 Revenue $ 224,863 $ 22,547 $ 347,331 $ 594,741 Property, plant and equipment, net 71,388 10,497 47,997 129,882 December 31, 2015 Revenue $ 338,907 $ 43,808 $ 414,805 $ 797,520 Property, plant and equipment, net 80,603 12,082 50,526 143,211 December 31, 2014 Revenue $ 515,643 $ 105,244 $ 464,335 $ 1,085,222 Property, plant and equipment, net 83,748 16,057 49,209 149,014 (1) Revenue earned in other countries, including The Netherlands, was not individually greater than 10% of our consolidated revenue in 2016, 2015 or 2014. (2) Property, plant and equipment, net in other countries, including The Netherlands, were not individually greater than 10% of our consolidated fixed assets in 2016, 2015 or 2014. The following table shows the breakdown between services and product sales for the years ended December 31, 2016 , 2015 and 2014 (in thousands): SEGMENT BREAKDOWN BETWEEN SERVICES / PRODUCT SALES For the Years Ended December 31, 2016 2015 2014 Reservoir Description Services $ 377,975 $ 445,729 $ 495,658 Production Enhancement Services 68,433 121,675 220,177 Reservoir Management Services 23,851 44,550 65,037 Total Revenue - Services $ 470,259 $ 611,954 $ 780,872 Reservoir Description Product sales $ 26,171 $ 27,643 $ 23,316 Production Enhancement Product sales 95,594 145,549 247,400 Reservoir Management Product sales 2,717 12,374 33,634 Total Revenue - Product sales $ 124,482 $ 185,566 $ 304,350 Total Revenue $ 594,741 $ 797,520 $ 1,085,222 |
Unaudited Selected Quarterly Re
Unaudited Selected Quarterly Results of Operations | 12 Months Ended |
Dec. 31, 2016 | |
Unaudited Selected Quarterly Results of Operations [Abstract] | |
Quarterly Financial Information [Text Block] | Summarized below is our unaudited quarterly financial data for the quarters ended December 31, 2016 and 2015 (in thousands, except per share data): Quarter ended 2016 December 31 September 30 June 30 March 31 Services and product sales revenue $ 149,542 $ 143,483 $ 148,069 $ 153,647 Cost of services and product sales 112,678 107,153 109,999 112,814 Other operating expenses 15,340 14,842 17,843 17,893 Operating income 21,524 21,488 20,227 22,940 Interest expense 2,548 2,569 3,021 3,434 Income before income tax expense 18,976 18,919 17,206 19,506 Income tax expense 3,607 2,081 671 4,389 Net income 15,369 16,838 16,535 15,117 Net income (loss) attributable to non-controlling interest (90 ) 108 (89 ) 35 Net income attributable to Core Laboratories N.V. $ 15,459 $ 16,730 $ 16,624 $ 15,082 Per share information: Basic earnings per share (1) $ 0.35 $ 0.38 $ 0.38 $ 0.36 Diluted earnings per share (1) $ 0.35 $ 0.38 $ 0.38 $ 0.35 Weighted average common shares outstanding: Basic 44,113 44,110 43,297 42,380 Diluted 44,326 44,320 43,505 42,520 Quarter ended 2015 December 31 September 30 June 30 March 31 Services and product sales revenue $ 182,723 $ 197,265 $ 203,889 $ 213,643 Cost of services and product sales 124,709 129,050 134,619 144,274 Other operating expenses 34,372 21,397 21,377 26,652 Operating income 23,642 46,818 47,893 42,717 Interest expense 3,390 3,471 3,116 2,403 Income before income tax expense 20,252 43,347 44,777 40,314 Income tax expense 4,658 9,753 10,075 9,272 Net income 15,594 33,594 34,702 31,042 Net income attributable to non-controlling interest 176 190 76 (357 ) Net income attributable to Core Laboratories N.V. $ 15,418 $ 33,404 $ 34,626 $ 31,399 Per share information: Basic earnings per share (1) $ 0.36 $ 0.79 $ 0.81 $ 0.72 Diluted earnings per share (1) $ 0.36 $ 0.78 $ 0.81 $ 0.72 Weighted average common shares outstanding: Basic 42,355 42,517 42,790 43,340 Diluted 42,518 42,685 42,959 43,466 (1) The sum of the individual quarterly earnings per share amounts may not agree with the year-to-date earnings per share amounts as each quarterly computation is based on the weighted average number of common shares outstanding during that period. |
Significant Accounting Polici27
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Prior Period Reclassification Adjustment, Description | |
Accounts payable [Policy Text Block] | Accounts Payable Trade accounts payable are recorded at their invoiced amounts and do not bear interest. The carrying value of accounts payable is considered to be representative of its respective fair value. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pensions and Other Postretirement Benefits We provide a non-contributory defined benefit pension plan covering substantially all of our Dutch employees ("Dutch Plan") who were hired prior to 2007. As required by current accounting standards, we recognize net periodic pension costs associated with the Dutch plan in income from current operations and recognize the unfunded status of the plan, if any, as a long-term liability. In addition, we recognize as a component of other comprehensive income, the gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic pension cost. The projection of benefit obligation and fair value of plan assets requires the use of assumptions and estimates. Actual results could differ from those estimates. See Note 10 - Pension and Other Postretirement Benefit Plans . Furthermore, we maintain defined contribution plans for the benefit of eligible employees primarily in Canada, The Netherlands, the United Kingdom. and the United States. We expense these contributions in the period the contribution is made. |
NonControlling Interests [Policy Text Block] | Non-controlling Interests We maintain non-controlling interests in several investment ventures and disclose such interests clearly as a portion of equity separate from the parent's equity. The amount of consolidated net income attributable to these non-controlling interests must also be clearly presented on the Consolidated Statements of Operations. In addition, when a subsidiary is deconsolidated, any retained non-controlling equity investment in the former subsidiary will be initially measured at fair value and recorded as a gain or loss. |
Income Tax, Policy [Policy Text Block] | Income Taxes We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Consolidated Financial Statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the asset is recovered or the liability is settled. We include interest and penalties from tax judgments in income tax expense. We record a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in our tax return. We also recognize interest and penalties, if any, related to unrecognized tax benefits in income tax expense. See Note 9 - Income Taxes . |
Comprehensive Income [Policy Text Block] | Comprehensive Income Comprehensive income is comprised of net income and other charges or credits to equity that are not the result of transactions with owners. Other comprehensive income consists of prior service costs and an unrecognized net actuarial gain and loss from a pension plan and changes in the fair value of our interest rate swaps. See Note 10 - Pension and Other Postretirement Benefit Plans and Note 14 - Derivative Instruments and Hedging Activities . |
Inventory, Policy [Policy Text Block] | Inventories Inventories consist of manufactured goods, materials and supplies used for sales or services to clients. Inventories are stated at the lower of cost or estimated net realizable value. Inventory costs are recorded at standard cost which approximates the first-in, first-out method. |
Prepaid Expenses and Other Current Assets [Policy Text Block] | Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are comprised primarily of prepaid insurance, value added taxes and prepaid rents. Prior to 2016, this account also included current deferred income taxes. On January 1, 2016, we early adopted ASU 2015-17 ("Balance Sheet Classification of Deferred Taxes") issued by the FASB in November 2015 to simplify the presentation of deferred income taxes. The amendments in this update require that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. As we applied the adoption prospectively, the comparative prior period Consolidated Balance Sheet as of December 31, 2015 has not been retrospectively adjusted. The adoption of this standard had no effect on our current Consolidated Statements of Operations and Consolidated Statements of Cash Flows. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP" or "GAAP"), and include the accounts of Core Laboratories and its subsidiaries for which we have a controlling voting interest and/or a controlling financial interest. The equity method of accounting is used to record our interest in investments in which we have less than a majority interest and do not exercise control but do exert significant influence. We use the cost method to record certain other investments in which we own less than 20% of the outstanding equity and do not exercise control or exert significant influence. We record non-controlling interest associated with consolidated subsidiaries that are less than 100% owned. All inter-company transactions and balances have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We evaluate our estimates on an ongoing basis and utilize our historical experience, as well as various other assumptions that we believe are reasonable in a given circumstance, in order to make these estimates. Actual results could differ from our estimates, as assumptions and conditions change. The following accounts, among others, require us to use critical estimates and assumptions: ▪ allowance for doubtful accounts; ▪ inventory reserves; ▪ depreciation and amortization; ▪ long-lived assets, intangibles and goodwill; ▪ income taxes; ▪ pensions and other postretirement benefits; and ▪ stock-based compensation. Accounting policies relating to these accounts and the nature of these estimates are further discussed under the applicable caption. For each of these critical estimates it is at least reasonably possible that changes in these estimates will occur in the short term which may impact our financial position or results of operations. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include all short-term, highly liquid instruments purchased with an original maturity of three months or less. These items are carried at cost, which approximates fair value. |
Concentration of Credit Risk [Policy Text Block] | Concentration of Credit Risk Our financial instruments that potentially subject us to concentrations of credit risk relate primarily to cash and cash equivalents and trade accounts receivable. All cash and cash equivalents are on deposit at commercial banks or investment firms with significant financial resources. Our trade receivables are with a variety of domestic, international and national oil and gas companies. We had no clients who provided more than 10% of our revenue for the years ended December 31, 2016 , 2015 and 2014 . We consider our credit risk related to trade accounts receivable to be limited due to the creditworthiness and financial resources of our clients. We evaluate our estimate of the allowance for doubtful accounts on an on-going basis throughout the year. |
Concentration of Interest Rate Risk [Policy Text Block] | Concentration of Interest Rate Risk We are exposed to interest rate risk on our revolving credit facility (the "Credit Facility") debt, which carries a variable interest rate. We are exposed to interest rate risk on our Senior Notes which carry a fixed interest rate, but whose fair value will fluctuate based on changes in interest rates and market perception of our credit risk. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Trade accounts receivable are recorded at their invoiced amounts and do not bear interest. We perform ongoing credit evaluations of our clients and monitor collections and payments in order to maintain a provision for estimated uncollectible accounts based on our historical collection experience and our current aging of client receivables outstanding, in addition to client's representations and our understanding of the economic environment in which our clients operate. Based on our review we establish or adjust allowances for specific clients and the accounts receivable as a whole, and recognize expense. When an account is determined to be uncollectible, we charge the receivable to our allowance for doubtful accounts. Our allowance for doubtful accounts totaled $3.1 million and $4.1 million at December 31, 2016 and 2015 , respectively. The net carrying value of accounts receivable is considered to be representative of its respective fair value. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. Major renewals and improvements are capitalized while maintenance and repair costs are charged to expense as incurred. They are depreciated using the straight-line method based on their individual estimated useful lives, except for leasehold improvements, which are depreciated over the remaining lease term, if shorter. We estimate the useful lives and salvage values of our assets based on historical data as follows: Buildings and leasehold improvements 3 - 40 years Machinery and equipment 3 - 10 years When long-lived assets are sold or retired, the remaining costs and related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in income. These capitalized long-lived assets could become impaired if our operating plans or business environment changes. We review our long-lived assets, including definite-lived intangible assets, for impairment when events or changes in circumstances indicate that their net book value may not be recovered over their remaining service lives. Indicators of possible impairment may include significant declines in activity levels in regions where specific assets or groups of assets are located, extended periods of idle use, declining revenue or cash flow or overall changes in general market conditions. Whenever possible impairment is indicated, we compare the carrying value of the assets to the sum of the estimated undiscounted future cash flows expected from use, plus salvage value, less the costs of the subsequent disposition of the assets. If impairment is still indicated, we compare the fair value of the assets to the carrying amount, and recognize an impairment loss for the amount by which the carrying value exceeds the fair value. We did not record any material impairment charges relating to our long-lived assets held for use during the years ended December 31, 2016 , 2015 or 2014 . |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangibles and Goodwill Intangible assets, including patents, trademarks, and trade names, are carried at cost less accumulated amortization. Intangibles with determinable lives are amortized using the straight-line method based on the estimated useful life of the intangible. Intangibles with indeterminable lives, which consist primarily of corporate trade names, are not amortized, but are tested for impairment annually or whenever events or changes in circumstances indicate that impairment is possible. We record goodwill as the excess of the purchase price over the fair value of the net assets acquired in acquisitions accounted for under the purchase method of accounting. We test goodwill for impairment annually, or more frequently if circumstances indicate possible impairment. We evaluated our goodwill for impairment by comparing the fair value of each of our reporting units, which are our reportable segments, to their net carrying value as of the balance sheet date. We estimated the fair value of each reporting unit using a discounted future cash flow analysis. Estimated future cash flows were based on the Company's best estimate of future performance. Our impairment analysis is quantitative; however, it includes subjective estimates based on assumptions regarding future growth rates, interest rates and operating expenses. If the carrying value of the reporting unit exceeds the fair value determined, an impairment loss is recorded to the extent that the implied fair value of the goodwill of the reporting unit is less than its carrying value. Any subsequent impairment loss could result in a material adverse effect upon our financial position and results of operations. We did not record impairment charges relating to our goodwill or our indefinite-lived intangible assets during the years ended December 31, 2016 , 2015 or 2014 . We have never identified nor recorded any impairments relating to the goodwill of our current continuing operations. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition We recognize revenue when we determine that the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services have been rendered; (iii) the fee is fixed or determinable; and (iv) collectability is reasonably assured. Services Revenue : We provide a variety of services to clients in the oil and gas industry. Where services are provided related to the testing and analysis of rock and fluids, we recognize revenue upon the provision of the test results or analysis to the client. For our design, field engineering and completion diagnostic services, we recognize revenue upon the delivery of those services at the well site. In the case of our consortium studies, revenue is recognized when the reservoir model solution is presented to our clients. We conduct testing and provide analysis services in support of our consortium studies recognizing revenue as the testing and analysis results are made available to our consortium members. Product Sales Revenue : We manufacture equipment that we sell to our clients in the oil and gas well industry. Revenue is recognized when title to that equipment passes to the client, which is typically when the product is shipped to the client or picked up by the client at our facilities, as set out in the contract. All advance client payments are classified as unearned revenue until services are performed or product title is transferred. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currencies Our functional currency is the U.S. Dollar ("USD"). All inter-company financing, transactions and cash flows of our subsidiaries are transacted in USD. Our foreign entities remeasure monetary assets and liabilities to USD at year-end exchange rates, while non-monetary items are measured at historical rates. Revenue and expenses are remeasured at the applicable month-end rate, except for depreciation, amortization and certain components of cost of sales, which are measured at historical rates. For the year ended December 31, 2016 , we incurred a net remeasurement loss of approximately $1.8 million , while in the year ended December 31, 2015 , we incurred a net remeasurement loss of approximately $4.5 million , and a net remeasurement loss of approximately $4.2 million in the year ended December 31, 2014 . These amounts were included in Other (Income) Expense, net in the accompanying Consolidated Statements of Operations. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation We have two stock-based compensation plans, as described in further detail in Note 13 - Stock-Based Compensation . For new awards issued and awards modified, repurchased or canceled, the compensation expense is equal to the fair value of the award at the date of the grant and is recognized in the Consolidated Statements of Operations for those awards earned over the requisite service period of the award. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share We compute basic earnings per common share by dividing net income attributable to Core Laboratories N.V. by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common share include additional shares in the weighted average share calculations associated with the incremental effect of dilutive employee stock options, restricted stock awards and contingently issuable shares, as determined using the treasury stock method. The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share (in thousands): For the Years Ended December 31, 2016 2015 2014 Weighted average basic common shares outstanding 43,479 42,747 44,362 Effect of dilutive securities: Performance shares 127 98 110 Restricted stock 64 63 128 Weighted average diluted common and potential common shares outstanding 43,670 42,908 44,600 |
Other assets [Policy Text Block] | Other Assets Cash surrender value of life insurance relates to postretirement benefit plans. See Note 10 - Pension and Other Postretirement Benefit Plans . Investments include unconsolidated affiliates accounted for under the equity method where the operations of these entities are in-line with those of our core businesses. These entities are not considered special purpose entities nor do we have special off-balance sheet arrangements through these entities. Other assets consisted of the following (in thousands): 2016 2015 Cash surrender value of life insurance $ 39,059 $ 36,087 Investments in unconsolidated affiliates 3,224 2,719 Other 4,841 4,801 Total other assets $ 47,124 $ 43,607 |
Significant Accounting Polici28
Significant Accounting Policies Derivative Instruments Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Derivatives, Policy [Policy Text Block] | Derivative Instruments We may enter into a variety of derivative instruments in connection with the management of our exposure to fluctuations in interest rates or currency exchange rates. See Note 14 - Derivative Instruments and Hedging Activities . We do not enter into derivatives for speculative purposes. |
Significant Accounting Polici29
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Other Assets [Table Text Block] | Other assets consisted of the following (in thousands): 2016 2015 Cash surrender value of life insurance $ 39,059 $ 36,087 Investments in unconsolidated affiliates 3,224 2,719 Other 4,841 4,801 Total other assets $ 47,124 $ 43,607 |
Schedule of Weighted Average Number of Shares [Table Text Block] | The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share (in thousands): For the Years Ended December 31, 2016 2015 2014 Weighted average basic common shares outstanding 43,479 42,747 44,362 Effect of dilutive securities: Performance shares 127 98 110 Restricted stock 64 63 128 Weighted average diluted common and potential common shares outstanding 43,670 42,908 44,600 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
INVENTORIES [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories consisted of the following at December 31, 2016 and 2015 (in thousands): 2016 2015 Finished goods $ 21,635 $ 25,778 Parts and materials 11,185 12,637 Work in progress 900 2,491 Total inventories $ 33,720 $ 40,906 |
Property Plant and Equipment (T
Property Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | The components of property, plant and equipment, net were as follows at December 31, 2016 and 2015 (in thousands): 2016 2015 Land $ 7,883 $ 7,894 Building and leasehold improvements 114,522 111,740 Machinery and equipment 256,742 263,858 Total property, plant and equipment 379,147 383,492 Less - accumulated depreciation (249,265 ) (240,281 ) Property, plant and equipment, net $ 129,882 $ 143,211 |
Intangibles (Tables)
Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Intangibles [Abstract] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Our estimated amortization expense relating to these intangibles for the next five years is summarized in the following table (in thousands): 2017 $ 1,008 2018 $ 967 2019 $ 861 2020 $ 703 2021 $ 613 |
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block] | The components of intangibles, net as of December 31, 2016 and 2015 are as follows (in thousands): 2016 2015 Original life in years Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Acquired trade secrets 2-20 $ 3,390 $ 1,405 $ 3,065 $ 1,086 Acquired patents and trademarks 4-10 5,043 1,809 7,869 4,677 Agreements not to compete 3-5 839 690 894 586 Acquired trade names Indefinite 4,568 — 4,562 — Total intangibles, net $ 13,840 $ 3,904 $ 16,390 $ 6,349 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | The changes in the carrying amount of goodwill for each reportable segment for the years ended December 31, 2016 , and 2015 were as follows (in thousands): Reservoir Description Production Enhancement Reservoir Management Total Balance at December 31, 2014 $ 82,059 $ 79,560 $ 2,845 $ 164,464 Goodwill acquired during the year 13,695 — — 13,695 Balance at December 31, 2015 95,754 79,560 2,845 178,159 Goodwill acquired during the year 885 — — 885 Balance at December 31, 2016 $ 96,639 $ 79,560 $ 2,845 $ 179,044 |
Debt and Capital Lease Obliga34
Debt and Capital Lease Obligations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | Debt at December 31, 2016 and 2015 is summarized in the following table (in thousands): December 31, 2016 December 31, 2015 Senior Notes $ 150,000 $ 150,000 Credit Facility 68,000 283,000 Other indebtedness — 2,244 Total debt 218,000 435,244 Less: Short-term debt included in other indebtedness — (2,244 ) Less: Debt issuance costs (1,512 ) (2,013 ) Long-term debt, net $ 216,488 $ 430,987 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
Summary of Income Tax Contingencies [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): 2016 2015 2014 Unrecognized tax benefits at January 1, $ 9,964 $ 11,747 $ 12,385 Tax positions, current period 983 1,044 1,441 Tax positions, prior period 83 (640 ) 56 Settlements with taxing authorities (1,657 ) (1,371 ) (947 ) Lapse of applicable statute of limitations (816 ) (816 ) (1,188 ) Unrecognized tax benefits at December 31, $ 8,557 $ 9,964 $ 11,747 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets and liabilities as of December 31, 2016 and 2015 are summarized as follows (in thousands): 2016 2015 Deferred tax assets: Net operating loss carry-forwards $ 9,885 $ 8,045 Tax credit carry-forwards 2,925 934 Accruals for compensation 14,573 14,937 Accruals for inventory capitalization 2,587 2,738 Unrealized benefit plan loss 4,931 5,571 Unrealized foreign exchange 7,221 7,994 Other 3,208 3,247 Total deferred tax assets 45,330 43,466 Valuation allowance (1) (9,963 ) (10,862 ) Net deferred tax asset 35,367 32,604 Deferred tax liabilities: Intangibles (7,061 ) (5,876 ) Property, plant and equipment (5,774 ) (8,372 ) Accrued interest — (10,111 ) Unrealized foreign exchange (4,206 ) (6,421 ) Other (3,998 ) (1,579 ) Total deferred tax liabilities (21,039 ) (32,359 ) Net deferred income taxes $ 14,328 $ 245 2016 2015 Current deferred tax assets $ — $ 3,164 Current deferred tax liabilities — (9,731 ) Long-term deferred tax assets 20,605 11,693 Long-term deferred tax liabilities (6,277 ) (4,881 ) Total deferred tax assets (liabilities) $ 14,328 $ 245 (1) Valuation allowance at 12/31/14 was $7.2 million. |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of income before income tax expense for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 United States $ 34,723 $ 55,143 $ 154,943 Other countries 39,884 93,547 180,988 Income before income tax expense $ 74,607 $ 148,690 $ 335,931 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of income tax expense for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 Current: United States $ (2,469 ) $ 17,257 $ 44,350 Other countries 16,533 14,629 23,546 State and provincial 600 1,979 4,727 Total current 14,664 33,865 72,623 Deferred: United States 1,844 (2,905 ) 2,801 Other countries (5,845 ) 2,947 1,675 State and provincial 85 (149 ) 206 Total deferred (3,916 ) (107 ) 4,682 Income tax expense $ 10,748 $ 33,758 $ 77,305 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The differences in income tax expense computed using The Netherlands statutory income tax rate of 25% , 25% and 25% in 2016 , 2015 and 2014 , respectively, and our income tax expense as reported in the accompanying Consolidated Statements of Operations for 2016 , 2015 and 2014 are as follows (in thousands): 2016 2015 2014 Tax at The Netherlands income tax rate $ 18,652 $ 37,173 $ 83,983 International earnings taxed at rates other than The Netherlands statutory rate (16,840 ) (14,066 ) (6,721 ) Non-deductible expenses 2,936 2,832 2,807 Change in valuation allowance (899 ) 3,625 1,150 State and provincial taxes 600 1,133 3,339 Adjustments of prior year taxes 2,412 483 (2,973 ) Adjustments of income tax reserves (604 ) (1,205 ) (1,570 ) Foreign exchange 3,381 4,358 1,659 Other 1,110 (575 ) (4,369 ) Income tax expense $ 10,748 $ 33,758 $ 77,305 |
Pension and Other Postretirem36
Pension and Other Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Pension and Other Postretirement Benefit Plans [Abstract] | |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Amounts recognized for the Dutch Plan in the Consolidated Balance Sheets for the years ended December 31, 2016 and 2015 consist of (in thousands): 2016 2015 Deferred tax asset $ 2,328 $ 2,660 Other long-term liabilities 9,948 9,643 Accumulated other comprehensive loss (9,169 ) (9,540 ) |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | The following table summarizes the change in the projected benefit obligation and the fair value of plan assets for the Dutch Plan for the years ended December 31, 2016 and 2015 (in thousands): 2016 2015 Projected Benefit Obligation: Projected benefit obligation at beginning of year $ 50,759 $ 59,338 Service cost 1,456 1,787 Interest cost 1,329 1,192 Benefits paid (1,139 ) (982 ) Administrative expenses (31 ) (169 ) Actuarial (gain) loss, net 5,225 (4,416 ) Unrealized (gain) loss on foreign exchange (1,517 ) (5,991 ) Projected benefit obligation at end of year $ 56,082 $ 50,759 Fair Value of Plan Assets: Fair value of plan assets at beginning of year $ 41,116 $ 47,528 Increase (decrease) in plan asset value 6,328 (2,279 ) Employer contributions 1,118 1,829 Benefits paid (1,139 ) (982 ) Administrative expenses (31 ) (169 ) Unrealized gain (loss) on foreign exchange (1,258 ) (4,811 ) Fair value of plan assets at end of year $ 46,134 $ 41,116 Under-funded status of the plan at end of the year $ (9,948 ) $ (9,643 ) Accumulated Benefit Obligation $ 47,980 $ 43,969 |
Schedule of Net Benefit Costs [Table Text Block] | The components of net periodic pension cost for the Dutch Plan under this plan for the years ended December 31, 2016 , 2015 , and 2014 included (in thousands): 2016 2015 2014 Service cost $ 1,456 $ 1,787 $ 1,445 Interest cost 1,329 1,192 1,756 Expected return on plan assets (1,117 ) (986 ) (1,303 ) Unrecognized pension asset, net — (96 ) (87 ) Prior service cost (81 ) (85 ) 7 Unrecognized net actuarial loss 593 727 540 Net periodic pension cost $ 2,180 $ 2,539 $ 2,358 |
Schedule of Assumptions Used [Table Text Block] | The following actuarial assumptions were used to determine the actuarial present value of our projected benefit obligation and the net periodic pension costs for the Dutch Plan at December 31, 2016 and 2015 : 2016 2015 Weighted average assumed discount rate 1.90% 2.60% Expected long-term rate of return on plan assets 1.90% 2.60% Weighted average rate of compensation increase 2.75% 3.00% |
Schedule of Expected Benefit Payments [Table Text Block] | Expected benefit payments to eligible participants under this plan for the next five years are as follows (in thousands): 2017 $ 1,118 2018 $ 1,156 2019 $ 1,169 2020 $ 1,275 2021 $ 1,356 Succeeding five years $ 8,147 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Scheduled minimum rental commitments under non-cancellable operating leases at December 31, 2016 , consist of the following (in thousands): 2017 $ 15,514 2018 11,557 2019 8,563 2020 6,330 2021 4,575 Thereafter 15,522 Total commitments $ 62,061 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Amounts recognized, net of tax, in Accumulated other comprehensive income (loss) for the years ended December 31, 2016 and 2015 consist of (in thousands): 2016 2015 Prior service cost $ 600 $ 661 Unrecognized net actuarial loss and foreign exchange (9,769 ) (10,201 ) Fair value of derivatives (659 ) (998 ) Total Accumulated other comprehensive (loss) $ (9,828 ) $ (10,538 ) |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Stock-based Compensation [Abstract] | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Non-vested restricted share awards outstanding under both the Plan and the Director Plan as of December 31, 2016 and changes during the year were as follows: Number of Shares Weighted Average Grant Date Fair Value per Share Non-vested at December 31, 2015 463,604 $ 126.65 Granted 237,359 96.23 Vested (141,612 ) 139.82 Forfeited (13,737 ) 122.47 Non-vested at December 31, 2016 545,614 $ 110.11 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | For the years ended December 31, 2016 , 2015 and 2014 , stock-based compensation expense under both the Plan and the Director Plan recognized in the income statement is as follows (in thousands): 2016 2015 2014 Cost of product sales and services $ 10,073 $ 10,126 $ 10,331 General and administrative 12,006 11,153 10,139 Total stock-based compensation expense $ 22,079 $ 21,279 $ 20,470 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | The effect of the interest rate swaps on the Consolidated Statements of Operations was as follows (in thousands): December 31, 2016 December 31, 2015 Income Statement Classification Derivatives designated as hedges: 5 yr Interest Rate Swap $ 316 $ 388 Interest Expense 10 yr Interest Rate Swap 513 583 Interest Expense $ 829 $ 971 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | The fair values of outstanding derivative instruments are as follows (in thousands): Fair Value of Derivatives December 31, 2016 December 31, 2015 Balance Sheet Classification Derivatives designated as hedges: 5 yr Interest Rate Swap $ 211 $ 353 Other Liabilities 10 yr Interest Rate Swap 835 1,229 Other Liabilities $ 1,046 $ 1,582 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurement at December 31, 2016 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trust assets (1) $ 25,530 $ — $ 25,530 $ — Liabilities: Deferred compensation plan $ 31,672 $ — $ 31,672 $ — 5 year interest rate swap 211 — 211 — 10 year interest rate swap 835 — 835 — $ 32,718 $ — $ 32,718 $ — | Fair Value Measurement at December 31, 2015 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trust assets (1) $ 23,737 $ — $ 23,737 $ — Liabilities: Deferred compensation plan $ 29,155 $ — $ 29,155 $ — 5 year interest rate swap 353 — 353 — 10 year interest rate swap 1,229 — 1,229 — $ 30,737 $ — $ 30,737 $ — (1) Trust assets consist of the cash surrender value of life insurance policies and are intended to fund the deferred compensation agreements. |
Other (Income) Expense (Tables)
Other (Income) Expense (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other (Income) Expense, net [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | The components of other (income) expense, net, are as follows (in thousands): For the Years Ended December 31, 2016 2015 2014 Sale of assets $ (618 ) $ (408 ) $ (764 ) Results of non-consolidated subsidiaries (506 ) (383 ) (364 ) Foreign exchange 1,832 4,507 4,230 Interest income — (56 ) (403 ) Rents and royalties (420 ) (484 ) (817 ) Insurance and other settlements — — (292 ) Other, net (630 ) 493 (521 ) Total other (income) expense, net $ (342 ) $ 3,669 $ 1,069 |
Foreign Currency Gains Losses By Currency [Table Text Block] | . Foreign exchange gains and losses are summarized in the following table (in thousands): For the Years Ended December 31, (Gains) losses by currency 2016 2015 2014 Australian Dollar $ 136 $ 238 $ 289 British Pound 807 434 1,132 Canadian Dollar (137 ) 1,848 1,886 Euro (49 ) (908 ) (1,537 ) Malaysian Ringgit 43 545 278 Mexican Peso (47 ) 414 284 Nigerian Naira 200 630 432 Other currencies, net 879 1,306 1,466 Total (gain) loss, net $ 1,832 $ 4,507 4,230 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Revenue from External Customers by Products and Services [Table Text Block] | SEGMENT BREAKDOWN BETWEEN SERVICES / PRODUCT SALES For the Years Ended December 31, 2016 2015 2014 Reservoir Description Services $ 377,975 $ 445,729 $ 495,658 Production Enhancement Services 68,433 121,675 220,177 Reservoir Management Services 23,851 44,550 65,037 Total Revenue - Services $ 470,259 $ 611,954 $ 780,872 Reservoir Description Product sales $ 26,171 $ 27,643 $ 23,316 Production Enhancement Product sales 95,594 145,549 247,400 Reservoir Management Product sales 2,717 12,374 33,634 Total Revenue - Product sales $ 124,482 $ 185,566 $ 304,350 Total Revenue $ 594,741 $ 797,520 $ 1,085,222 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Results for these business segments are presented below. We use the same accounting policies to prepare our b Results for these business segments are presented below. We use the same accounting policies to prepare our business segment results as are used to prepare our Consolidated Financial Statements. All interest and other non-operating income (expense) is attributable to Corporate & Other area and is not allocated to specific business segments. Summarized financial information concerning our segments is shown in the following table (in thousands): Reservoir Description Production Enhancement Reservoir Management Corporate & Other (1) Consolidated December 31, 2016 Revenues from unaffiliated clients $ 404,146 $ 164,027 $ 26,568 $ — $ 594,741 Inter-segment revenues 3,941 877 121 (4,939 ) — Segment operating income (loss) 75,148 8,891 2,043 97 86,179 Total assets (at end of period) 301,574 191,846 17,599 62,033 573,052 Capital expenditures 8,195 2,298 25 838 11,356 Depreciation and amortization 17,735 5,272 1,344 2,521 26,872 December 31, 2015 Revenues from unaffiliated clients $ 473,372 $ 267,224 $ 56,924 $ — $ 797,520 Inter-segment revenue 8,674 1,837 248 (10,759 ) — Segment operating income (loss) 111,032 35,027 15,655 (644 ) 161,070 Total assets (at end of period) 326,182 210,214 27,076 61,786 625,258 Capital expenditures 17,849 3,292 273 1,383 22,797 Depreciation and amortization 16,778 6,611 1,624 2,444 27,457 December 31, 2014 Revenue from unaffiliated clients $ 518,974 $ 467,577 $ 98,671 $ — $ 1,085,222 Inter-segment revenue 10,387 2,459 366 (13,212 ) — Segment operating income (loss) 143,624 165,204 37,220 483 346,531 Total assets (at end of period) 319,325 257,135 34,179 62,686 673,325 Capital expenditures 21,371 7,990 2,681 4,544 36,586 Depreciation and amortization 15,816 7,509 1,393 1,978 26,696 (1) "Corporate and other" represents those items that are not directly relating to a particular segment and eliminations. |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | The following table shows a summary of our U.S. and non-U.S. operations (with 2013 revenue reclassified as described above) for December 31, 2016 , 2015 and 2014 (in thousands): GEOGRAPHIC INFORMATION United States Canada Other Countries (1) (2) Consolidated December 31, 2016 Revenue $ 224,863 $ 22,547 $ 347,331 $ 594,741 Property, plant and equipment, net 71,388 10,497 47,997 129,882 December 31, 2015 Revenue $ 338,907 $ 43,808 $ 414,805 $ 797,520 Property, plant and equipment, net 80,603 12,082 50,526 143,211 December 31, 2014 Revenue $ 515,643 $ 105,244 $ 464,335 $ 1,085,222 Property, plant and equipment, net 83,748 16,057 49,209 149,014 (1) Revenue earned in other countries, including The Netherlands, was not individually greater than 10% of our consolidated revenue in 2016, 2015 or 2014. (2) Property, plant and equipment, net in other countries, including The Netherlands, were not individually greater than 10% of our consolidated fixed assets in 2016, 2015 or 2014. |
Unaudited Selected Quarterly 44
Unaudited Selected Quarterly Results of Operations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Unaudited Selected Quarterly Results of Operations [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Summarized below is our unaudited quarterly financial data for the quarters ended December 31, 2016 and 2015 (in thousands, except per share data): Quarter ended 2016 December 31 September 30 June 30 March 31 Services and product sales revenue $ 149,542 $ 143,483 $ 148,069 $ 153,647 Cost of services and product sales 112,678 107,153 109,999 112,814 Other operating expenses 15,340 14,842 17,843 17,893 Operating income 21,524 21,488 20,227 22,940 Interest expense 2,548 2,569 3,021 3,434 Income before income tax expense 18,976 18,919 17,206 19,506 Income tax expense 3,607 2,081 671 4,389 Net income 15,369 16,838 16,535 15,117 Net income (loss) attributable to non-controlling interest (90 ) 108 (89 ) 35 Net income attributable to Core Laboratories N.V. $ 15,459 $ 16,730 $ 16,624 $ 15,082 Per share information: Basic earnings per share (1) $ 0.35 $ 0.38 $ 0.38 $ 0.36 Diluted earnings per share (1) $ 0.35 $ 0.38 $ 0.38 $ 0.35 Weighted average common shares outstanding: Basic 44,113 44,110 43,297 42,380 Diluted 44,326 44,320 43,505 42,520 Quarter ended 2015 December 31 September 30 June 30 March 31 Services and product sales revenue $ 182,723 $ 197,265 $ 203,889 $ 213,643 Cost of services and product sales 124,709 129,050 134,619 144,274 Other operating expenses 34,372 21,397 21,377 26,652 Operating income 23,642 46,818 47,893 42,717 Interest expense 3,390 3,471 3,116 2,403 Income before income tax expense 20,252 43,347 44,777 40,314 Income tax expense 4,658 9,753 10,075 9,272 Net income 15,594 33,594 34,702 31,042 Net income attributable to non-controlling interest 176 190 76 (357 ) Net income attributable to Core Laboratories N.V. $ 15,418 $ 33,404 $ 34,626 $ 31,399 Per share information: Basic earnings per share (1) $ 0.36 $ 0.79 $ 0.81 $ 0.72 Diluted earnings per share (1) $ 0.36 $ 0.78 $ 0.81 $ 0.72 Weighted average common shares outstanding: Basic 42,355 42,517 42,790 43,340 Diluted 42,518 42,685 42,959 43,466 (1) The sum of the individual quarterly earnings per share amounts may not agree with the year-to-date earnings per share amounts as each quarterly computation is based on the weighted average number of common shares outstanding during that period. |
Description of Business (Detail
Description of Business (Details) | Dec. 31, 2016 |
Number of Countries in which Entity Operates | 50 |
Number of Stores | 70 |
Entity Number of Employees | 4,400 |
Significant Accounting Polici46
Significant Accounting Policies (Details) - shares shares in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Abstract] | |||||||||||
Weighted Average Number of Shares Outstanding, Basic | 44,113 | 44,110 | 43,297 | 42,380 | 42,355 | 42,517 | 42,790 | 43,340 | 43,479 | 42,747 | 44,362 |
Incremental Common Shares Attributable to Contingently Issuable Shares | 127 | 98 | 110 | ||||||||
Weighted Average Number of Shares, Restricted Stock | 64 | 63 | 128 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 44,326 | 44,320 | 43,505 | 42,520 | 42,518 | 42,685 | 42,959 | 43,466 | 43,670 | 42,908 | 44,600 |
Significant Accounting Polici47
Significant Accounting Policies Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||
Cash Surrender Value of Life Insurance | $ 39,059 | $ 36,087 |
Equity Method Investments | 3,224 | 2,719 |
Other Assets, Miscellaneous, Noncurrent | 4,841 | 4,801 |
Other Assets, Noncurrent | $ 47,124 | $ 43,607 |
Significant Accounting Polici48
Significant Accounting Policies Accounts Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Summary of Significant Accounting Policies [Abstract] | ||
Allowance for Doubtful Accounts Receivable, Current | $ 3,139 | $ 4,136 |
Significant Accounting Polici49
Significant Accounting Policies Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Building and Leasehold Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Building and Leasehold Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 40 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 10 years |
Significant Accounting Polici50
Significant Accounting Policies Foreign Currency (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Component of Other Operating Cost [Line Items] | |||
Other Nonoperating Income (Expense) | $ (342) | $ 3,669 | $ 1,069 |
Foreign Currency Gain (Loss) [Member] | |||
Component of Other Operating Cost [Line Items] | |||
Other Nonoperating Income (Expense) | $ 1,832 | $ 4,507 | $ 4,230 |
Acquisitions (Details)
Acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Business Acquisition [Line Items] | ||
Goodwill, Acquired During Period | $ 885 | $ 13,695 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory, Finished Goods, Net of Reserves | $ 21,635 | $ 25,778 |
Inventory, Raw Materials and Purchased Parts, Net of Reserves | 11,185 | 12,637 |
Inventory, Work in Process, Net of Reserves | 900 | 2,491 |
Inventory, Net | $ 33,720 | $ 40,906 |
Property Plant and Equipment (D
Property Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Abstract] | |||
Land | $ 7,883 | $ 7,894 | |
Buildings and Improvements, Gross | 114,522 | 111,740 | |
Machinery and Equipment, Gross | 256,742 | 263,858 | |
Property, Plant and Equipment, Gross | 379,147 | 383,492 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (249,265) | (240,281) | |
Property, Plant and Equipment, Net | $ 129,882 | $ 143,211 | $ 149,014 |
Intangibles (Details)
Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Future Amortization Expense, Year One | $ 1,008 | |
Future Amortization Expense, Year Two | 967 | |
Future Amortization Expense, Year Three | 861 | |
Future Amortization Expense, Year Four | 703 | |
Future Amortization Expense, Year Five | 613 | |
Accumulated Amortization | 3,904 | $ 6,349 |
Intangible Assets Gross | 13,840 | 16,390 |
Trade Secrets [Member] | ||
Accumulated Amortization | 1,405 | 1,086 |
Intangible Assets Gross | 3,390 | 3,065 |
Patents [Member] | ||
Accumulated Amortization | 1,809 | 4,677 |
Intangible Assets Gross | 5,043 | 7,869 |
Noncompete Agreements [Member] | ||
Accumulated Amortization | 690 | 586 |
Intangible Assets Gross | 839 | 894 |
Trade name infinite lived [Member] | ||
Accumulated Amortization | 0 | 0 |
Intangible Assets Gross | $ 4,568 | $ 4,562 |
Minimum [Member] | Trade Secrets [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 2 years | |
Minimum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 4 years | |
Minimum [Member] | Noncompete Agreements [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Maximum [Member] | Trade Secrets [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 20 years | |
Maximum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | |
Maximum [Member] | Noncompete Agreements [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill [Line Items] | |||
GOODWILL | $ 179,044 | $ 178,159 | $ 164,464 |
Goodwill, Acquired During Period | 885 | 13,695 | |
Reservoir Description Segment [Member] | |||
Goodwill [Line Items] | |||
GOODWILL | 96,639 | 95,754 | 82,059 |
Goodwill, Acquired During Period | 885 | 13,695 | |
Production Enhancement Segment [Member] | |||
Goodwill [Line Items] | |||
GOODWILL | 79,560 | 79,560 | 79,560 |
Goodwill, Acquired During Period | 0 | 0 | |
Reservoir Management Segment [Member] | |||
Goodwill [Line Items] | |||
GOODWILL | 2,845 | 2,845 | $ 2,845 |
Goodwill, Acquired During Period | $ 0 | $ 0 |
Debt and Capital Lease Obliga56
Debt and Capital Lease Obligations (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016USD ($)quarter | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)instrument | Dec. 31, 2011series | |
Debt Instrument [Line Items] | ||||
Debt Instrument, Number of Series of Debt Issued | series | 2 | |||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 200,000 | |||
Debt Instrument, Maturity Date | Aug. 29, 2019 | |||
Long-term Debt | $ (218,000) | $ (435,244) | ||
Long-term Debt, Excluding Current Maturities | 216,488 | 430,987 | ||
Cash payments for interest | 11,248 | 12,313 | $ 10,272 | |
Line of Credit Facility, Current Borrowing Capacity | 400,000 | $ 350,000 | ||
Uncommitted borrowings available | 50,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | 450,000 | |||
Performance bonds under credit facility | 25,800 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 306,200 | |||
Performance Bonds | 15,000 | |||
Long-term Debt, Percentage Bearing Variable Interest, Amount | 18,000 | |||
Interest Rate Swap [Member] | ||||
Debt Instrument [Line Items] | ||||
Derivative, Number of Instruments Held | instrument | 2 | |||
Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 150,000 | |||
Long-term Debt | (150,000) | (150,000) | ||
Line of Credit [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ (68,000) | (283,000) | ||
Debt Instrument, Covenant, Number of Quarters Used for Measurement of Covenants | quarter | 4 | |||
Debt Instrument, Covenant, Interest Coverage Ratio, Minimum | 3 | |||
Debt Instrument, Covenant, Leverage Ratio, Minimum | 2.5 | |||
Other Long-Term Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 0 | (2,244) | ||
Short-term Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 0 | (2,244) | ||
Debt issuance costs [Domain] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | (1,512) | $ (2,013) | ||
senior notes series a [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 75,000 | |||
Debt Instrument, Maturity Date | Sep. 30, 2021 | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.01% | |||
Senior Notes Series B [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 75,000 | |||
Debt Instrument, Maturity Date | Sep. 30, 2023 | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.11% | |||
Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | 1.25% | ||
Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||||||||||
Undistributed Earnings of Foreign Subsidiaries | $ 281,000 | $ 281,000 | |||||||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | 26,600 | 26,600 | |||||||||
Operating Loss Carryforwards | 38,800 | 38,800 | |||||||||
Operating Loss Carryforwards, Expiring in Next Three Years | 3,500 | 3,500 | |||||||||
Operating Loss Carryforwards, Expiring in Years Four, Five and Six | 5,000 | 5,000 | |||||||||
Operating Loss Carryforwards, Expiring in Years Seven, Eight and Nine | 22,000 | 22,000 | |||||||||
Operating Loss Carryforwards, Expiring Thereafter | 4,600 | 4,600 | |||||||||
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 3,700 | 3,700 | |||||||||
Expired net operating loss carryforwards | 100 | 100 | |||||||||
Current Federal Tax Expense (Benefit) | (2,469) | $ 17,257 | $ 44,350 | ||||||||
Current Foreign Tax Expense (Benefit) | 16,533 | 14,629 | 23,546 | ||||||||
Current State and Local Tax Expense (Benefit) | 600 | 1,979 | 4,727 | ||||||||
Current Income Tax Expense (Benefit) | 14,664 | 33,865 | 72,623 | ||||||||
Deferred Federal Income Tax Expense (Benefit) | 1,844 | (2,905) | 2,801 | ||||||||
Deferred Foreign Income Tax Expense (Benefit) | (5,845) | 2,947 | 1,675 | ||||||||
Deferred State and Local Income Tax Expense (Benefit) | 85 | (149) | 206 | ||||||||
Deferred Income Tax Expense (Benefit) | (3,916) | (107) | 4,682 | ||||||||
Income Tax Expense (Benefit) | 3,607 | $ 2,081 | $ 671 | $ 4,389 | $ 4,658 | $ 9,753 | $ 10,075 | $ 9,272 | 10,748 | 33,758 | 77,305 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 600 | (500) | (1,100) | ||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,700 | 2,000 | 2,700 | 2,000 | 2,500 | ||||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 1,200 | $ 2,400 | $ 1,200 | $ 2,400 | $ 800 |
Income Taxes Income tax expense
Income Taxes Income tax expense, income tax reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 25.00% | 25.00% | 25.00% | ||||||||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 18,652 | $ 37,173 | $ 83,983 | ||||||||
Income Tax Reconciliation, Foreign Income Tax Rate Differential | (16,840) | (14,066) | (6,721) | ||||||||
Income Tax Reconciliation, Nondeductible Expense | 2,936 | 2,832 | 2,807 | ||||||||
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | (899) | 3,625 | 1,150 | ||||||||
Income Tax Reconciliation, State and Local Income Taxes | 600 | 1,133 | 3,339 | ||||||||
Income Tax Reconciliation, Prior Year Income Taxes | 2,412 | 483 | (2,973) | ||||||||
Income Tax Reconciliation, Other Adjustments | (604) | (1,205) | (1,570) | ||||||||
Income Tax Reconciliation, Foreign Exchange | 3,381 | 4,358 | 1,659 | ||||||||
Income Tax Reconciliation, Other Reconciling Items | 1,110 | (575) | (4,369) | ||||||||
Income Tax Expense (Benefit) | $ 3,607 | $ 2,081 | $ 671 | $ 4,389 | $ 4,658 | $ 9,753 | $ 10,075 | $ 9,272 | $ 10,748 | $ 33,758 | $ 77,305 |
Income Taxes Income Before Inco
Income Taxes Income Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 34,723 | $ 55,143 | $ 154,943 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 39,884 | 93,547 | 180,988 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | $ 74,607 | $ 148,690 | $ 335,931 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Income Taxes [Abstract] | |||
Deferred Tax Assets, Operating Loss Carryforwards | $ 9,885 | $ 8,045 | |
Deferred Tax Assets, Tax Credit Carryforwards | 2,925 | 934 | |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves | 14,573 | 14,937 | |
Deferred Tax Assets, Inventory | 2,587 | 2,738 | |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | 4,931 | 5,571 | |
Deferred Tax Assets, Unrealized Currency Losses | 7,221 | 7,994 | |
Deferred Tax Assets, Other | 3,208 | 3,247 | |
Deferred Tax Assets, Gross | 45,330 | 43,466 | |
Deferred Tax Assets, Valuation Allowance | (9,963) | (10,862) | $ (7,200) |
Deferred Tax Assets, Net | 35,367 | 32,604 | |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets | (7,061) | (5,876) | |
Deferred Tax Liabilities, Property, Plant and Equipment | (5,774) | (8,372) | |
Deferred Tax Liabilities, Deferred Expense, Capitalized Interest | 0 | (10,111) | |
Deferred Tax Liabilities, Unrealized Currency Transaction Gains | (4,206) | (6,421) | |
Deferred Tax Liabilities, Other | (3,998) | (1,579) | |
Deferred Tax Liabilities | (21,039) | (32,359) | |
Deferred Tax Assets (Liabilities), Net | 14,328 | 245 | |
Deferred Tax Assets, Net, Current | 0 | 3,164 | |
Deferred Tax Liabilities, Current | 0 | (9,731) | |
Deferred Tax Assets, Net, Noncurrent | 20,605 | 11,693 | |
Deferred Tax Liabilities, Noncurrent | $ (6,277) | $ (4,881) |
Income Taxes Income Tax Conting
Income Taxes Income Tax Contingency (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Taxes [Abstract] | ||||
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | $ 983 | $ 1,044 | $ 1,441 | |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 83 | 56 | ||
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (640) | |||
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | (1,657) | (1,371) | (947) | |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | (816) | (816) | (1,188) | |
Unrecognized Tax Benefits | $ 8,557 | $ 9,964 | $ 11,747 | $ 12,385 |
Pension and Other Postretirem62
Pension and Other Postretirement Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Term of Insurance Contracts to Fund Benefits | 5 years | ||
Deferred Compensation Arrangement with Individual, Employer Contribution | $ 200 | $ 300 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | 1,200 | 1,700 | $ 1,900 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | $ (81) | $ (85) | 7 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 1.90% | 2.60% | |
Defined Benefit Plan, Benefit Obligation | $ 56,082 | $ 50,759 | 59,338 |
Defined Benefit Plan, Service Cost | 1,456 | 1,787 | 1,445 |
Defined Benefit Plan, Interest Cost | 1,329 | 1,192 | 1,756 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit), Tax | 0 | 0 | (1,024) |
Defined Benefit Plan, Benefits Paid | (1,139) | (982) | |
defined benefit plan, Administrative Expenses | (31) | (169) | |
Defined Benefit Plan, Actuarial Net (Gains) Losses | 5,225 | (4,416) | |
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Benefit Obligation | (1,517) | (5,991) | |
Defined Benefit Plan, Future Amortization of Gain (Loss) | (400) | ||
Defined Benefit Plan, Amortization of Transition Obligations (Assets) | 0 | (96) | (87) |
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets | (1,258) | (4,811) | |
Defined Benefit Plan, Fair Value of Plan Assets | 46,134 | 41,116 | $ 47,528 |
Defined Benefit Plan, Actual Return on Plan Assets | 6,328 | (2,279) | |
Defined Benefit Plan, Contributions by Employer | 1,118 | 1,829 | |
Defined Benefit Plan, Funded Status of Plan | (9,948) | (9,643) | |
Defined Benefit Plan, Accumulated Benefit Obligation | 47,980 | 43,969 | |
Interest Rate Swap [Domain] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Rate Derivatives, at Fair Value, Net | $ (659) | $ (998) |
Pension and Other Postretirem63
Pension and Other Postretirement Benefit Plans Actuarial Assumptions Used to Determine the Actuarial Present Value of Projected Benefit Obligation and Net Periodic Pensions Costs (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Pension and Other Postretirement Benefit Plans [Abstract] | ||
Defined Benefit Plan, Weighted Average Assumptions Used Calculating Benefit Obligation and Net Periodic Benefit Cost, Discount Rate | 1.90% | 2.60% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation and Net Benefit Cost, Expected Long-Term Return on Plan Assets | 1.90% | 2.60% |
Defined Benefit Plan, Weighted Average Assumptions Used Calculating Benefit Obligation and Net Periodic Benefit Cost, Rate of Compensation Increase | 2.75% | 3.00% |
Pension and Other Postretirem64
Pension and Other Postretirement Benefit Plans Schedule of Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Other Assets, Noncurrent | $ 47,124 | $ 43,607 |
Deferred Tax Assets, Net | 35,367 | 32,604 |
Other Liabilities, Noncurrent | 44,716 | 48,853 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (9,828) | (10,538) |
Dutch Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Deferred Tax Assets, Net | 2,328 | 2,660 |
Other Liabilities, Noncurrent | 9,948 | 9,643 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (9,169) | $ (9,540) |
Pension and Other Postretirem65
Pension and Other Postretirement Benefit Plans Components of Net Periodic Pension Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension and Other Postretirement Benefit Plans [Abstract] | |||
Defined Benefit Plan, Service Cost | $ 1,456 | $ 1,787 | $ 1,445 |
Defined Benefit Plan, Interest Cost | 1,329 | 1,192 | 1,756 |
Defined Benefit Plan, Expected Return on Plan Assets | (1,117) | (986) | (1,303) |
Defined Benefit Plan, Amortization of Transition Obligations (Assets) | 0 | (96) | (87) |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | (81) | (85) | 7 |
Defined Benefit Plan, Amortization of Gains (Losses) | 593 | 727 | 540 |
Defined Benefit Plan, Net Periodic Benefit Cost | $ 2,180 | $ 2,539 | $ 2,358 |
Pension and Other Postretirem66
Pension and Other Postretirement Benefit Plans Schedule of Expected Benefit Payments (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Pension and Other Postretirement Benefit Plans [Abstract] | |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $ 1,500 |
Defined Benefit Plan, Expected Future Benefit Payments in Year One | 1,118 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 1,156 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 1,169 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Four | 1,275 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 1,356 |
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | $ 8,147 |
Pension and Other Postretirem67
Pension and Other Postretirement Benefit Plans Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension and Other Postretirement Benefit Plans [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 6.1 | $ 6.9 | $ 7.9 |
Pension and Other Postretirem68
Pension and Other Postretirement Benefit Plans Deferred Compensation Arrangements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension and Other Postretirement Benefit Plans [Abstract] | |||
Deferred Compensation Plan with Individual, Base Salary Period Used to Determine Benefit | 5 years | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 1.2 | $ 1.7 | $ 1.9 |
Deferred Compensation Arrangement with Individual, Employer Contribution | $ 0.2 | $ 0.3 |
Commitments and Contingencies69
Commitments and Contingencies (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)individual | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Loss Contingency [Abstract] | |||
Loss Contingency Accrual | $ 8,600 | ||
Deferred Compensation Arrangement with Individual, Number of Individuals with Benefits | individual | 3 | ||
Supplemental Unemployment Benefits, Severance Benefits | $ 8,000 | ||
Operating Leases, Rent Expense | 20,300 | $ 22,200 | $ 24,100 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Current | 15,514 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 11,557 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 8,563 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 6,330 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 4,575 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 15,522 | ||
Operating Leases, Future Minimum Payments Due | $ 62,061 |
Commitments and Contingencies L
Commitments and Contingencies Loss Contingency [Abstract] (Details) $ in Millions | Dec. 31, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Loss Contingency Accrual | $ 8.6 |
Equity (Details)
Equity (Details) - USD ($) | May 26, 2016 | May 26, 2016 | May 17, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | May 19, 2016 | Dec. 31, 1995 |
Stock issued during period, Shares, New issue, Main Offering | 1,475,000 | |||||||||
Shares Issued During Period, Shares, New Issues, Price Per Share | $ 116.67 | $ 116.67 | ||||||||
Stock issued during period, Shares, New Issues, Additional Offering | 221,250 | |||||||||
Stock Issued During Period, Shares, New Issues | 1,696,250 | |||||||||
Stock Issued During Period, Shares, New Issues, Net Proceeds | $ 197,200,000 | |||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased, Percent | 10.00% | 10.00% | ||||||||
Treasury Stock, Shares, Acquired | 39,373,745 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 1,600,000,000 | |||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (9,828,000) | $ (10,538,000) | $ (9,828,000) | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ 41.20 | |||||||||
Treasury Stock, Shares, Retired | 1,250,000 | 33,475,406 | ||||||||
Treasury Stock, Retired, Cost Method, Amount | $ 0 | $ 0 | $ 0 | $ 1,200,000,000 | ||||||
Treasury Stock, Shares | 644,991 | 1,974,097 | 644,991 | |||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 3,834,634 | 3,834,634 | ||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.55 | |||||||||
Dividends | $ (95,145,000) | $ (94,235,000) | $ (89,089,000) | |||||||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | 600,000 | 661,000 | $ 600,000 | |||||||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | $ (9,769,000) | $ (10,201,000) | $ (9,769,000) | |||||||
Subsequent Event [Member] | ||||||||||
Treasury Stock, Shares, Acquired | 189 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 22,800 | |||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.55 |
Stock-based Compensation (Detai
Stock-based Compensation (Details) $ / shares in Units, $ in Thousands | May 13, 2014shares | Dec. 31, 2016USD ($)plan$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement by Share-based Payment Award, Number of Plans | plan | 2 | |||
Share-based Compensation | $ | $ 22,079 | $ 21,279 | $ 20,470 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 13,737 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,100,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 237,359 | |||
Treasury Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | (141,106) | (183,455) | (216,395) | |
Performance Share Award Program [Member] | Performance Share Award Program 2013 Grant [Domain] | Restricted Stock Units (RSUs) [Member] | Employee stock award program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] | 51,348 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 2,200 | |||
Stock comp shares surrendered | 19,400 | |||
Stock comp shares surrendered, value | $ | $ 2,300 | |||
Stock comp shares surrendered, per share price | $ / shares | $ 120.04 | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ | $ 1,100 | |||
Performance Share Award Program [Member] | Performance Share Award Program 2015 Grant [Domain] | Restricted Stock Units (RSUs) [Member] | Employee stock award program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation | $ | $ 3,800 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 12 months | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 106,455 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 11,300,000 | |||
Performance Share Award Program [Member] | Performance Share Award Program 2016 Grant [Member] | Restricted Stock Units (RSUs) [Member] | Employee stock award program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation | $ | $ 3,900 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 24 months | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 122,515 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 11,700,000 |
Stock-based Compensation Employ
Stock-based Compensation Employee Service Share-based Compensation, Allocation of Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based Compensation | $ 22,079 | $ 21,279 | $ 20,470 |
Cost of services and sales, exclusive of depreciation [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based Compensation | 10,073 | 10,126 | 10,331 |
General and Adminstrative Expense, exclusive of depreciation [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based Compensation | $ 12,006 | $ 11,153 | $ 10,139 |
Stock-based Compensation Share
Stock-based Compensation Share Based Compensation by Payment Award (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 170 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 545,614 | 463,604 | 545,614 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 110.11 | $ 126.65 | $ 110.11 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 237,359 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 96.23 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (141,612) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 139.82 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (13,737) | |||
Treasury Stock, Shares, Acquired | 39,373,745 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 1,600,000 | |||
Treasury Stock Acquired, Average Cost Per Share | $ 41.20 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value | $ 122.47 | |||
Share-based Compensation | $ 22,079 | $ 21,279 | $ 20,470 | |
Restricted Stock Units (RSUs) [Member] | Director Stock Award Program [Member] | Restricted Share Award Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 10,680 | 8,616 | 4,536 | |
Share-based Compensation | $ 900 | $ 900 | $ 900 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 22 months | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 1,300 | $ 1,300 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1,100,000 | $ 900,000 | $ 900,000 | |
Restricted Stock Units (RSUs) [Member] | Director Stock Award Program [Member] | Total Restricted Stock Award [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,400,000 | 1,400,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 551,058 | 551,058 | ||
Restricted Stock Units (RSUs) [Member] | Employee stock award program [Member] | Restricted Share Award Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 104,164 | 91,784 | 80,983 | |
Share-based Compensation | $ 10,500 | $ 10,400 | $ 10,500 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 44 months | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 28,600 | $ 28,600 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 10,000,000 | $ 8,900,000 | $ 15,000,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value | $ 9,900,000 | $ 10,400,000 | $ 10,400,000 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ (100) | $ 200 | $ 2,900 | |
Restricted Stock Units (RSUs) [Member] | Employee stock award program [Member] | Total Restricted Stock Award [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 11,900,000 | 11,900,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,214,983 | 1,214,983 | ||
Restricted Stock Units (RSUs) [Member] | Performance Share Award Program 2013 Grant [Domain] | Employee stock award program [Member] | Performance Share Award Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (2,200) | |||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] | 51,348 | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ 1,100 | |||
Restricted Stock Units (RSUs) [Member] | Performance Share Award Program 2014 Grant [Domain] | Employee stock award program [Member] | Performance Share Award Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 53,548 | |||
Share-based Compensation | $ 3,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 9,000,000 | |||
Restricted Stock Units (RSUs) [Member] | Performance Share Award Program 2015 Grant [Domain] | Employee stock award program [Member] | Performance Share Award Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 106,455 | |||
Share-based Compensation | $ 3,800 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 12 months | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 11,300,000 |
Derivative Instruments (Details
Derivative Instruments (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2014instrument | |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Number of Instruments Held | instrument | 2 | |
Derivative, Notional Amount | $ 50 | |
Derivative, Amount of Hedged Item | $ 50 | |
Interest Rate Swap No. 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Aug. 29, 2019 | |
Derivative, Notional Amount | $ 25 | |
Derivative, Fixed Interest Rate | 1.73% | |
Interest Rate Swap No. 1 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Aug. 29, 2024 | |
Derivative, Notional Amount | $ 25 | |
Derivative, Fixed Interest Rate | 2.50% | |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap No. 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Term of Contract | 5 years | |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap No. 1 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Term of Contract | 10 years |
Derivative Instruments Derivati
Derivative Instruments Derivative gain loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Rate Swap No. 2 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
5 yr Interest Rate Swap | $ 316 | $ 388 |
Interest Rate Derivative Liabilities, at Fair Value | 211 | 353 |
Interest Rate Swap No. 1 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
5 yr Interest Rate Swap | 513 | 583 |
Interest Rate Derivative Liabilities, at Fair Value | 835 | 1,229 |
Interest Rate Swap [Domain] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
5 yr Interest Rate Swap | 829 | 971 |
Interest Rate Derivative Liabilities, at Fair Value | $ 1,046 | 1,582 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap No. 2 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Term of Contract | 5 years | |
Interest Rate Derivative Liabilities, at Fair Value | $ 211 | 353 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap No. 1 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Term of Contract | 10 years | |
Interest Rate Derivative Liabilities, at Fair Value | $ 835 | $ 1,229 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation trust assets (1) | $ 25,530 | $ 23,737 |
Deferred Compensation Liability, Current | 31,672 | 29,155 |
Deferred compensation plan | 32,718 | 30,737 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation trust assets (1) | 0 | 0 |
Deferred Compensation Liability, Current | 0 | 0 |
Deferred compensation plan | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation trust assets (1) | 25,530 | 23,737 |
Deferred Compensation Liability, Current | 31,672 | 29,155 |
Deferred compensation plan | 32,718 | 30,737 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation trust assets (1) | 0 | 0 |
Deferred Compensation Liability, Current | 0 | 0 |
Deferred compensation plan | 0 | 0 |
Interest Rate Swap No. 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | 211 | 353 |
Interest Rate Swap No. 2 [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | 0 |
Interest Rate Swap No. 2 [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative, Term of Contract | 5 years | |
Interest Rate Derivative Liabilities, at Fair Value | $ 211 | 353 |
Interest Rate Swap No. 2 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | 0 | 0 |
Interest Rate Swap No. 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | 835 | 1,229 |
Interest Rate Swap No. 1 [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | 0 |
Interest Rate Swap No. 1 [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative, Term of Contract | 10 years | |
Interest Rate Derivative Liabilities, at Fair Value | $ 835 | 1,229 |
Interest Rate Swap No. 1 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | $ 0 |
Other (Income) Expense (Details
Other (Income) Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | $ (342) | $ 3,669 | $ 1,069 |
Other Income [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | (630) | 493 | (521) |
gain loss on sale of asset [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | (618) | (408) | (764) |
Investment Income [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | (506) | (383) | (364) |
Interest Income [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | 0 | (56) | (403) |
Foreign Currency Gain (Loss) [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | 1,832 | 4,507 | 4,230 |
Rents And Royalties Income Loss [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | (420) | (484) | (817) |
gain loss on insurance recovery [Member] | |||
Other operating expenses [Line Items] | |||
Other Nonoperating Income (Expense) | $ 0 | $ 0 | $ (292) |
Other (Income) Expense Foreign
Other (Income) Expense Foreign Currency Gain Loss by Currency (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Foreign Currency Transaction Gain (Loss), before Tax | $ 1,832 | $ 4,507 | $ 4,230 |
AustralianDollar [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | 136 | 238 | 289 |
British Pound [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | 807 | 434 | 1,132 |
Canadian Dollar [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | (137) | 1,848 | 1,886 |
Euro [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | (49) | (908) | (1,537) |
Malaysian Ringgit [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | 43 | 545 | 278 |
Mexican Peso [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | (47) | 414 | 284 |
Nigerian Naira [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | 200 | 630 | 432 |
Other Currencies Net [Member] | |||
Foreign Currency Transaction Gain (Loss), before Tax | $ 879 | $ 1,306 | $ 1,466 |
Severance and Other Charges (De
Severance and Other Charges (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | |
Severance and Other Charges [Abstract] | ||
Severance charges | $ 8.8 | |
Accrued severance charges | $ 0.5 | |
Business Exit Costs | 5.5 | |
Loss Contingency Accrual | $ 8.6 |
Segment Reporting (Details)
Segment Reporting (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($)segment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of Reportable Segments | segment | 3 | ||||||||||
Revenue, Net | $ 149,542 | $ 143,483 | $ 148,069 | $ 153,647 | $ 182,723 | $ 197,265 | $ 203,889 | $ 213,643 | $ 594,741 | $ 797,520 | $ 1,085,222 |
Segment Reporting Information, Intersegment Revenue | 0 | 0 | 0 | ||||||||
Income Before Interest Expense and Taxes | 21,524 | $ 21,488 | $ 20,227 | $ 22,940 | 23,642 | $ 46,818 | $ 47,893 | $ 42,717 | 86,179 | 161,070 | 346,531 |
Assets | 573,052 | 625,258 | 573,052 | 625,258 | 673,325 | ||||||
Payments to Acquire Property, Plant, and Equipment | 11,356 | 22,797 | 36,586 | ||||||||
Depreciation and amortization | 26,872 | 27,457 | 26,696 | ||||||||
Operating Segment Reservoir Description [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 404,146 | 473,372 | 518,974 | ||||||||
Segment Reporting Information, Intersegment Revenue | 3,941 | 8,674 | 10,387 | ||||||||
Income Before Interest Expense and Taxes | 75,148 | 111,032 | 143,624 | ||||||||
Assets | 301,574 | 326,182 | 301,574 | 326,182 | 319,325 | ||||||
Payments to Acquire Property, Plant, and Equipment | 8,195 | 17,849 | 21,371 | ||||||||
Depreciation and amortization | 17,735 | 16,778 | 15,816 | ||||||||
Operating Segment Production Enhancement [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 164,027 | 267,224 | 467,577 | ||||||||
Segment Reporting Information, Intersegment Revenue | 877 | 1,837 | 2,459 | ||||||||
Income Before Interest Expense and Taxes | 8,891 | 35,027 | 165,204 | ||||||||
Assets | 191,846 | 210,214 | 191,846 | 210,214 | 257,135 | ||||||
Payments to Acquire Property, Plant, and Equipment | 2,298 | 3,292 | 7,990 | ||||||||
Depreciation and amortization | 5,272 | 6,611 | 7,509 | ||||||||
Operating Segment Reservoir Management [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 26,568 | 56,924 | 98,671 | ||||||||
Segment Reporting Information, Intersegment Revenue | 121 | 248 | 366 | ||||||||
Income Before Interest Expense and Taxes | 2,043 | 15,655 | 37,220 | ||||||||
Assets | 17,599 | 27,076 | 17,599 | 27,076 | 34,179 | ||||||
Payments to Acquire Property, Plant, and Equipment | 25 | 273 | 2,681 | ||||||||
Depreciation and amortization | 1,344 | 1,624 | 1,393 | ||||||||
Operating Segment Corporate And Other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 0 | 0 | 0 | ||||||||
Segment Reporting Information, Intersegment Revenue | (4,939) | (10,759) | (13,212) | ||||||||
Income Before Interest Expense and Taxes | 97 | (644) | 483 | ||||||||
Assets | $ 62,033 | $ 61,786 | 62,033 | 61,786 | 62,686 | ||||||
Payments to Acquire Property, Plant, and Equipment | 838 | 1,383 | 4,544 | ||||||||
Depreciation and amortization | $ 2,521 | $ 2,444 | $ 1,978 |
Segment Reporting Schedule of R
Segment Reporting Schedule of Revenues from External Customers and Long-Lived Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | $ 149,542 | $ 143,483 | $ 148,069 | $ 153,647 | $ 182,723 | $ 197,265 | $ 203,889 | $ 213,643 | $ 594,741 | $ 797,520 | $ 1,085,222 |
Property, Plant and Equipment, Net | 129,882 | 143,211 | 129,882 | 143,211 | 149,014 | ||||||
Income Before Interest Expense and Taxes | 21,524 | $ 21,488 | $ 20,227 | $ 22,940 | 23,642 | $ 46,818 | $ 47,893 | $ 42,717 | 86,179 | 161,070 | 346,531 |
Other Countries [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 347,331 | 414,805 | 464,335 | ||||||||
Property, Plant and Equipment, Net | 47,997 | 50,526 | 47,997 | 50,526 | 49,209 | ||||||
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 224,863 | 338,907 | 515,643 | ||||||||
Property, Plant and Equipment, Net | 71,388 | 80,603 | 71,388 | 80,603 | 83,748 | ||||||
CANADA | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 22,547 | 43,808 | 105,244 | ||||||||
Property, Plant and Equipment, Net | $ 10,497 | $ 12,082 | $ 10,497 | $ 12,082 | $ 16,057 |
Segment Reporting Revenue by Pr
Segment Reporting Revenue by Product Sales and Services (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue from External Customer [Line Items] | |||||||||||
Sales Revenue, Services, Net | $ 470,259 | $ 611,954 | $ 780,872 | ||||||||
Sales Revenue, Goods, Net | 124,482 | 185,566 | 304,350 | ||||||||
Total Revenue | $ 149,542 | $ 143,483 | $ 148,069 | $ 153,647 | $ 182,723 | $ 197,265 | $ 203,889 | $ 213,643 | 594,741 | 797,520 | 1,085,222 |
Operating Segment Reservoir Description [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Sales Revenue, Services, Net | 377,975 | 445,729 | 495,658 | ||||||||
Sales Revenue, Goods, Net | 26,171 | 27,643 | 23,316 | ||||||||
Total Revenue | 404,146 | 473,372 | 518,974 | ||||||||
Operating Segment Production Enhancement [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Sales Revenue, Services, Net | 68,433 | 121,675 | 220,177 | ||||||||
Sales Revenue, Goods, Net | 95,594 | 145,549 | 247,400 | ||||||||
Total Revenue | 164,027 | 267,224 | 467,577 | ||||||||
Operating Segment Reservoir Management [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Sales Revenue, Services, Net | 23,851 | 44,550 | 65,037 | ||||||||
Sales Revenue, Goods, Net | 2,717 | 12,374 | 33,634 | ||||||||
Total Revenue | $ 26,568 | $ 56,924 | $ 98,671 |
Unaudited Selected Quarterly 84
Unaudited Selected Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue, Net | $ 149,542 | $ 143,483 | $ 148,069 | $ 153,647 | $ 182,723 | $ 197,265 | $ 203,889 | $ 213,643 | $ 594,741 | $ 797,520 | $ 1,085,222 |
Cost of Services and Goods Sold | 112,678 | 107,153 | 109,999 | 112,814 | 124,709 | 129,050 | 134,619 | 144,274 | |||
Other operating expenses | 15,340 | 14,842 | 17,843 | 17,893 | 34,372 | 21,397 | 21,377 | 26,652 | |||
Income Before Interest Expense and Taxes | 21,524 | 21,488 | 20,227 | 22,940 | 23,642 | 46,818 | 47,893 | 42,717 | 86,179 | 161,070 | 346,531 |
Interest Expense and (Gain) Loss on Extinguishment of Debt | 2,548 | 2,569 | 3,021 | 3,434 | 3,390 | 3,471 | 3,116 | 2,403 | |||
Income before income tax expense | 18,976 | 18,919 | 17,206 | 19,506 | 20,252 | 43,347 | 44,777 | 40,314 | 74,607 | 148,690 | 335,931 |
Income Tax Expense (Benefit) | 3,607 | 2,081 | 671 | 4,389 | 4,658 | 9,753 | 10,075 | 9,272 | 10,748 | 33,758 | 77,305 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 15,369 | 16,838 | 16,535 | 15,117 | 15,594 | 33,594 | 34,702 | 31,042 | 63,859 | 114,932 | 258,626 |
Net Income (Loss) Attributable to Noncontrolling Interest | (90) | 108 | (89) | 35 | 176 | 190 | 76 | (357) | (36) | 85 | 1,141 |
Net Income (Loss) Attributable to Parent | $ 15,459 | $ 16,730 | $ 16,624 | $ 15,082 | $ 15,418 | $ 33,404 | $ 34,626 | $ 31,399 | $ 63,895 | $ 114,847 | $ 257,485 |
Earnings Per Share, Basic | $ 0.35 | $ 0.38 | $ 0.38 | $ 0.36 | $ 0.36 | $ 0.79 | $ 0.81 | $ 0.72 | $ 1.47 | $ 2.69 | $ 5.80 |
Earnings Per Share, Diluted | $ 0.35 | $ 0.38 | $ 0.38 | $ 0.35 | $ 0.36 | $ 0.78 | $ 0.81 | $ 0.72 | $ 1.46 | $ 2.68 | $ 5.77 |
Weighted Average Number of Shares Outstanding, Basic | 44,113 | 44,110 | 43,297 | 42,380 | 42,355 | 42,517 | 42,790 | 43,340 | 43,479 | 42,747 | 44,362 |
Weighted Average Number of Shares Outstanding, Diluted | 44,326 | 44,320 | 43,505 | 42,520 | 42,518 | 42,685 | 42,959 | 43,466 | 43,670 | 42,908 | 44,600 |