Innovex Downhole Solutions (INVX) 10-K 28 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 27, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	DRIL-QUIP INC
Entity Central Index Key	1,042,893
Trading Symbol	DRQ
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 (in shares)		37,806,683
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2,183,800,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Products	$ 433,012	$ 685,364	$ 773,205
Services	105,719	158,946	157,752
Total revenues	538,731	844,310	930,957
Cost of sales:
Products	268,405	382,925	428,125
Services	59,999	76,361	85,402
Total cost of sales	328,404	459,286	513,527
Selling, general and administrative	53,143	88,044	92,762
Engineering and product development	44,325	48,145	45,920
Total costs and expenses	425,872	595,475	652,209
Operating income	112,859	248,835	278,748
Interest income	3,037	948	667
Interest expense	(28)	(12)	(35)
Income before income taxes	115,868	249,771	279,380
Income tax provision	22,647	57,763	70,668
Net income	$ 93,221	$ 192,008	$ 208,712
Earnings per common share:
Basic (in dollars per share)	$ 2.48	$ 5	$ 5.22
Diluted (in dollars per share)	$ 2.47	$ 4.98	$ 5.19
Weighted average common shares outstanding:
Basic (in shares)	37,537	38,364	39,964
Diluted (in shares)	37,667	38,531	40,190

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - 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
Statement of Comprehensive Income [Abstract]
Net income	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ 48,354	$ 50,777	$ 39,213	$ 53,664	$ 93,221	$ 192,008	$ 208,712
Other comprehensive loss, net of tax:
Foreign currency translation adjustments									(49,141)	(51,060)	(30,034)
Total comprehensive income									$ 44,080	$ 140,948	$ 178,678

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 423,497	$ 381,336
Trade receivables, net	213,513	319,780
Inventories, net	355,413	344,458
Deferred income taxes	24,497	24,613
Prepaids and other current assets	39,791	54,111
Total current assets	1,056,711	1,124,298
Property, plant and equipment, net	323,149	294,251
Deferred income taxes	1,699	0
Goodwill	34,371	0
Intangible assets	29,594	0
Other assets	15,880	9,701
Total assets	1,461,404	1,428,250
Current liabilities:
Accounts payable	36,108	30,934
Accrued income taxes	24,543	14,052
Customer prepayments	11,884	18,388
Accrued compensation	10,829	17,957
Other accrued liabilities	18,116	19,484
Total current liabilities	101,480	100,815
Deferred income taxes	3,500	2,977
Total liabilities	104,980	103,792
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued)	0	0
Common stock:
100,000,000 shares authorized at $0.01 par value at December 31, 2016 and 2015, 37,797,317 and 37,951,223 issued and outstanding at December 31, 2016 and 2015	375	378
Additional paid-in capital	5,468	0
Retained earnings	1,500,988	1,425,344
Accumulated other comprehensive losses	(150,407)	(101,264)
Total stockholders’ equity	1,356,424	1,324,458
Total liabilities and stockholders’ equity	$ 1,461,404	$ 1,428,250

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	37,797,317	37,951,223
Common stock, shares outstanding (in shares)	37,797,317	37,951,223

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net income	$ 93,221	$ 192,008	$ 208,712
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	31,857	30,477	31,155
Stock-based compensation expense	12,217	13,125	11,856
Loss (gain) on sale of equipment	(103)	69	(146)
Deferred income taxes	(3,400)	(3,465)	(3,145)
Changes in operating assets and liabilities:
Trade receivables, net	106,544	36,729	(102,696)
Inventories, net	7,873	28,539	(36,814)
Prepaids and other assets	9,816	(17,883)	(13,239)
Excess tax benefits of stock options and awards	(135)	(70)	(558)
Accounts payable and accrued expenses	(11,368)	(89,374)	54,188
Net cash provided by operating activities	246,522	190,155	149,313
Investing activities
Purchase of property, plant and equipment	(25,763)	(27,079)	(42,549)
Proceeds from sale of equipment	357	424	978
Acquisition of business, net of cash acquired	(132,443)	0	0
Net cash used in investing activities	(157,849)	(26,655)	(41,571)
Financing activities
Repurchase of common stock	(24,234)	(75,805)	(190,234)
Proceeds from exercise of stock options	2,206	2,170	2,849
Excess tax benefits of stock options and awards	135	70	558
Net cash used in financing activities	(21,893)	(73,565)	(186,827)
Effect of exchange rate changes on cash activities	(24,619)	(7,304)	(6,566)
Increase (decrease) in cash and cash equivalents	42,161	82,631	(85,651)
Cash and cash equivalents at beginning of year	381,336	298,705	384,356
Cash and cash equivalents at end of year	$ 423,497	$ 381,336	$ 298,705

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2013	$ 1,242,018	$ 407	$ 191,965	$ 1,069,816	$ (20,170)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(30,034)				(30,034)
Net income	208,712			208,712
Comprehensive income	178,678
Options exercised and awards vested	2,849	1	2,848
Stock-based compensation	11,856		11,856
Excess tax benefits—stock options and awards	25		25
Repurchase of common stock	(190,234)	(20)	(190,214)
Ending Balance at Dec. 31, 2014	1,245,192	388	16,480	1,278,528	(50,204)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(51,060)				(51,060)
Net income	192,008			192,008
Comprehensive income	140,948
Options exercised and awards vested	2,170		2,170
Stock-based compensation	13,125		13,125
Excess tax benefits—stock options and awards	(1,172)		(1,172)
Repurchase of common stock	(75,805)	(10)	(30,603)	(45,192)
Ending Balance at Dec. 31, 2015	1,324,458	378	0	1,425,344	(101,264)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(49,141)				(49,141)
Net income	93,221			93,221
Comprehensive income	44,080
Options exercised and awards vested	2,206	1	2,205
Stock-based compensation	12,217		12,217
Excess tax benefits—stock options and awards	(2,241)		(2,241)
Repurchase of common stock	(24,234)	(4)	(6,713)	(17,517)
Other	(62)			(60)	(2)
Ending Balance at Dec. 31, 2016	$ 1,356,424	$ 375	$ 5,468	$ 1,500,988	$ (150,407)

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Options exercised and awards vested in shares (in shares)	163,547,000	168,268,000	48,523,000
Treasury stock shares (in shares)	400,500,000	1,184,700,000	2,023,172,000

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Dril-Quip, Inc., a Delaware corporation (the “Company” or “Dril-Quip”), designs, manufactures, sells and services highly engineered drilling and production equipment that is primarily well suited for use in deepwater, harsh environment and severe service applications. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors, diverters and safety valves. Dril-Quip’s products are used by major integrated, large independent and foreign national oil and gas companies and drilling contractors primarily in offshore areas throughout the world. Dril-Quip also provides technical advisory assistance on an as-requested basis during installation of its products, as well as rework and reconditioning services for customer-owned Dril-Quip products. In addition, Dril-Quip’s customers may rent or purchase running tools from the Company for use in the installation and retrieval of the Company’s products. The Company’s operations are organized into three geographic segments—Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia-Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services and the Company has major manufacturing facilities in all three of its headquarter locations as well as in Macae, Brazil. The Company’s major subsidiaries are Dril-Quip (Europe) Limited, located in Aberdeen with branches in Denmark, Norway and Holland; Dril-Quip Asia Pacific PTE Ltd., located in Singapore; Dril-Quip do Brasil LTDA, located in Macae, Brazil; and DQ Holdings Pty. Ltd., located in Perth, Australia. Other subsidiaries include Dril-Quip (Ghana) Ltd. located in Takoradi, Ghana; PT DQ Oilfield Services Indonesia located in Jakarta, Indonesia; Dril-Quip (Nigeria) Ltd. located in Port Harcourt, Nigeria; Dril-Quip Egypt for Petroleum Services S.A.E. located in Alexandria, Egypt; Dril-Quip Oilfield Services (Tianjin) Co. Ltd. located in Tianjin, China; and Dril-Quip Qatar LLC, located in Doha, Qatar. On November 10, 2016 , the Company acquired TIW Corporation (TIW), a Texas corporation, located in Houston, Texas, and all of its subsidiaries, including TIW Canada Ltd. located in Alberta, Canada; TIW de Mexico S.A. de C.V., located in Villahermosa, Mexico; TIW de Venezuela S.A., located in Anaco, Venezuela and with a registered branch located in Shushufindi, Ecuador; TIW (UK) Limited, located in Aberdeen, Scotland; TIW Hungary LLC, located in Szolnok, Hungary; and TIW International, Inc., which has a registered branch located in Singapore. TIW manufactures consumable downhole products for the onshore and offshore global oil and gas market. For a listing of all of Dril-Quip's subsidiaries, please see Exhibit 21.1 to this report.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities. Cash and Cash Equivalents Short-term investments that have a maturity of three months or less from the date of purchase are classified as cash equivalents. The Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in U.S. Treasury obligations and repurchase agreements backed by U.S. Treasury obligations. The Company’s investment objectives continue to be the preservation of capital and the maintenance of liquidity. Trade Receivables The Company maintains an allowance for doubtful accounts on trade receivables equal to amounts estimated to be uncollectible. This estimate is based upon historical collection experience combined with a specific review of each customer’s outstanding trade receivable balance. Management believes that the allowance for doubtful accounts is adequate; however, actual write-offs may exceed the recorded allowance. Inventories Inventory costs are determined principally by the use of the first-in, first-out (FIFO) costing method and are stated at the lower of cost or market. Company manufactured inventory is valued principally using standard costs, which are calculated based upon direct costs incurred and overhead allocations and approximate actual costs. Inventory purchased from third-party vendors is principally valued at the weighted average cost. Periodically, obsolescence reviews are performed on slow-moving inventories and reserves are established based on current assessments about future demands and market conditions. The inventory values have been reduced by a reserve for excess and slow-moving inventories. Inventory reserves of $45.6 million and $39.2 million were recorded as of December 31, 2016 and 2015 , respectively. If market conditions are less favorable than those projected by management, additional inventory reserves may be required. Inventories acquired from TIW as of November 10, 2016 have been recorded at provisional fair values. For additional information, see Note 4 , Business Acquisitions. Property, Plant and Equipment Property, plant and equipment are carried at cost, with depreciation provided on a straight-line basis over their estimated useful lives. Property, plant and equipment acquired from TIW as of November 10, 2016 have been recorded at provisional fair values. For additional information, see Note 4 , Business Acquisitions. Goodwill Goodwill consists of the excess of the acquisition costs over the fair value of net assets acquired in business combinations. Goodwill is reviewed for impairment annually in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount may be impaired. For this purpose, goodwill is evaluated at the reporting unit level. Dril-Quip recorded goodwill related to the acquisition of TIW. For further information regarding goodwill, see Note 7 , Goodwill. Intangible Assets Definite-lived intangible assets consist of patents and customer relationships. Dril-Quip recognizes amortization expense for definite-lived intangible assets on a straight-line basis over the estimated useful lives. Indefinite-lived intangible assets consist of trademarks, specifically trade names acquired as part of the acquisition of TIW. Indefinite-lived intangible assets are stated at cost and are not amortized; instead, they are tested for impairment at least annually. The Company reviews acquired trademarks for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the assets may be impaired. The fair value of trademarks is estimated using the relief from royalty method to estimate the value of the cost savings and a discounted cash flows method to estimate the value of future income. The sum of these two values for each trademark is the fair value of the trademark. If the carrying amount of trademarks exceeds the estimated fair value, the impairment is calculated as the excess of carrying amount over the estimate of fair value. For additional information regarding other assets, see Note 8 , Intangible Assets. Impairment of Long-Lived Assets Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of an asset exceeds the estimated undiscounted future cash flows expected to be generated by the asset, an impairment charge is recognized by reflecting the asset at its fair value. No impairments of long-lived assets were recorded in 2016 , 2015 or 2014 . Income Taxes The Company accounts for income taxes using the asset and liability method. Current income taxes are provided on income reported for financial statement purposes, adjusted for transactions that do not enter into the computation of income taxes payable in the same year. Deferred tax assets and liabilities are measured using enacted tax rates for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company classifies interest and penalties related to uncertain tax positions as income taxes in its financial statements. Revenue Recognition Product revenues The Company recognizes product revenues from two methods: • product revenues recognized under the percentage-of-completion method; and • product revenues from the sale of products that do not qualify for the percentage-of-completion method. Revenues recognized under the percentage-of-completion method The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics: • the contracts call for products which are designed to customer specifications; • the structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration; • the contracts contain specific terms as to milestones, progress billings and delivery dates; and • product requirements cannot be filled directly from the Company’s standard inventory. For each project, the Company prepares a detailed analysis of estimated costs, profit margin, completion date and risk factors which include availability of material, production efficiencies and other factors that may impact the project. On a quarterly basis, management reviews the progress of each project, which may result in revisions of previous estimates, including revenue recognition. The Company calculates the percentage complete and applies the percentage to determine the revenues earned and the appropriate portion of total estimated costs. Losses, if any, are recorded in full in the period they become known. Historically, the Company’s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project. Under the percentage-of-completion method, billings may not correlate directly to the revenue recognized. Based upon the terms of the specific contract, billings may be in excess of the revenue recognized, in which case the amounts are included in customer prepayments as a liability on the Consolidated Balance Sheets. Likewise, revenue recognized may exceed customer billings in which case the amounts are reported in trade receivables. Unbilled revenues are expected to be billed and collected within one year. At December 31, 2016 and 2015 , receivables included $56.8 million and $70.8 million of unbilled receivables, respectively. For the year ended December 31, 2016 , there were 10 projects representing approximately 14% of the Company’s total revenues and approximately 17% of its product revenues, and 14 projects during 2015 representing approximately 16% of the Company’s total revenues and approximately 19% of its product revenues, which were accounted for using percentage-of-completion accounting. Revenues not recognized under the percentage-of-completion method Revenues from the sale of inventory products, not accounted for under the percentage-of-completion method, are recorded at the time the manufacturing processes are complete and ownership is transferred to the customer. Service revenues The Company earns service revenues from three sources: • technical advisory assistance; • rental of running tools; and • rework and reconditioning of customer-owned Dril-Quip products. The Company does not install products for its customers, but it does provide technical advisory assistance. At the time of delivery of the product, the customer is not obligated to buy or rent the Company’s running tools and the Company is not obligated to perform any subsequent services relating to installation. Technical advisory assistance service revenue is recorded at the time the service is rendered. Service revenues associated with the rental of running and installation tools are recorded as earned. Rework and reconditioning service revenues are recorded when the refurbishment process is complete. The Company normally negotiates contracts for products, including those accounted for under the percentage-of-completion method, and services separately. For all product sales, it is the customer’s decision as to the timing of the product installation as well as whether Dril-Quip running tools will be purchased or rented. Furthermore, the customer is under no obligation to utilize the Company’s technical advisory assistance services. The customer may use a third party or their own personnel. Foreign Currency The financial statements of foreign subsidiaries are translated into U.S. dollars at period-end exchange rates except for revenues and expenses, which are translated at average monthly rates. Translation adjustments are reflected as a separate component of stockholders’ equity and have no effect on current earnings or cash flows. Foreign currency exchange transactions are recorded using the exchange rate at the date of the settlement. The Company experienced exchange gains of approximately $25.6 million , $3.9 million and $3.4 million in 2016 , 2015 and 2014 , respectively, net of income taxes. These amounts are included in selling, general and administrative costs in the Consolidated Statements of Income on a pre-tax basis. Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, receivables and payables. The carrying values of these financial instruments approximate their respective fair values as they are short-term in nature. Concentration of Credit Risk Financial instruments which subject the Company to concentrations of credit risk primarily include trade receivables. The Company grants credit to its customers, which operate primarily in the oil and gas industry. The Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company maintains reserves for potential losses, and actual losses have historically been within management’s expectations. In addition, the Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in obligations of the U.S. Treasury and repurchase agreements backed by U.S. Treasury obligations. Changes in the financial markets and interest rates could affect the interest earned on short-term investments. Earnings Per Share Basic earnings per common share are computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share are computed considering the dilutive effect of stock options and awards using the treasury stock method.

New Accounting Standards

New Accounting Standards	12 Months Ended
	Dec. 31, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, “Intangibles - Goodwill and Other (Topic 350).” The standard simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendment should be applied on a prospective basis. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is evaluating the impact of the new standard on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, “Business Combinations: Clarifying the Definition of a Business (Topic 805).” This update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the impact of the new standard on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting (Topic 718).” The standard simplifies several aspects of accounting for share-based payment transactions, including the accounting for income taxes, forfeitures and statutory withholding requirements, as well as classification in the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2016, including interim periods within those fiscal years. The Company expects the primary impact of this ASU to be the income tax effects of awards recognized in the statement of cash flows when the awards are vested or settled. In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The new standard requires lessees to recognize lease assets (right of use) and lease obligations (lease liability) for leases previously classified as operating leases under generally accepted accounting principles on the balance sheet for leases with terms in excess of 12 months. The standard is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company has launched an internal project to evaluate the impact of the new standard on its financial statements. Dril-Quip has $16.8 million in future minimum lease payments as of December 31, 2016 . Dril-Quip is a lessee in the majority of its leasing transactions and expects the implementation of the new standard to increase its non-current assets and non-current liabilities. The Company is currently evaluating the impact of the new standard on its consolidated financial statements. In November 2015, the FASB issued ASU 2015-17 “Income Taxes (Topic 740).” In an effort to reduce complexity, the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts will no longer be necessary. In the future, all deferred income taxes will be considered noncurrent and will continue to be offset into a single amount within each country. The standard is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. The Company’s financial statements will be revised to reflect this amendment beginning in the first quarter of 2017. In July 2015, the FASB issued ASU 2015-11 “Simplifying the Measurement of Inventory (Topic 330).” This standard states that inventory within the scope of this update should be measured at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the normal course of business, less reasonably predictable costs of completion, disposal and transportation. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is evaluating the impact of the new standard on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers (Topic 606).” The amendment applies a new five-step revenue recognition model to be used in recognizing revenues associated with customer contracts. The amendment requires disclosure sufficient to enable readers of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures, significant judgments and changes in judgments and assets recognized from the costs to obtain or fulfill the contract. The standard’s effective date was originally for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. On April 1, 2015, the FASB voted to defer the effective date by one year to December 15, 2017 and interim periods within annual reporting periods beginning after December 15, 2017. The Company will adopt this standard on January 1, 2018. The Company is currently evaluating the impact of the new standard on its consolidated financial statements.

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions On October 14, 2016, the Company entered into an agreement with Pearce Industries, Inc. to acquire all the outstanding common stock, par value $100.00 per share, of TIW Corporation (TIW) for a cash purchase price of $142.7 million , which is subject to customary adjustments for cash and working capital. The acquisition closed on November 10, 2016 and is expected to strengthen the Company's liner hanger sales and increase market share. Additionally, the acquisition of TIW gives Dril-Quip a presence in the onshore oil and gas market. Total acquisition costs through December 31, 2016 in connection with the purchase of TIW were $2.5 million and were expensed in general and administrative costs. Purchase Price Allocation Acquired assets and liabilities were recorded at estimated fair value as of the acquisition date. The excess of the purchase price over the estimated fair value of tangible and intangible identifiable net assets resulted in the recognition of goodwill of $34.4 million , the majority of which is included in long-lived assets in the Western Hemisphere and is attributable to expected synergies from combining operations as well as intangible assets which do not qualify for separate recognition. The amount of goodwill that is deductible for income tax purposes is not significant. The goodwill was determined on the basis of the fair values of the tangible and intangible assets and liabilities as of the acquisition date. It may be adjusted if the provisional fair values change as a result of circumstances existing at the acquisition date. Such fair value adjustments may arise in respect to intangible assets, inventories and property, plant and equipment, upon completion of the necessary valuations and physical verifications of such assets. The amount of deferred taxes may also be adjusted during the measurement period. For further information regarding goodwill, see Note 7 . The following table sets forth the preliminary purchase price allocation, which was based on fair value of assets acquired and liabilities assumed at the acquisition date, November 10, 2016: Valuation at November 10, 2016 (In thousands) Cash $ 1,829 Trade receivables 9,794 Inventories 29,896 Prepaid and other current assets 3,572 Deferred income taxes 205 Property, plant and equipment 38,058 Intangible assets (1) 29,808 Total assets acquired $ 113,162 Accounts payable 5,599 Customer prepayments 2,757 Other accrued liabilities 2,644 Deferred tax liabilities, non-current 2,261 Total liabilities assumed $ 13,261 Net identifiable assets acquired $ 99,901 Goodwill 34,371 Net assets acquired $ 134,272 (1) Includes $3.3 million of patents with a weighted average useful life of 10 years , $8.4 million of tradenames with an indefinite life and $18.1 million of customer relationships with a weighted average useful life of 15 years . See Note 8 for further information regarding intangible assets. Summary of Unaudited Pro Forma Information TIW's results of operations have been included in Dril-Quip's financial statements for the period subsequent to the closing of the acquisition on November 10, 2016. Business acquired from TIW contributed revenues of $6.6 million , a pre-tax operating loss of $4.4 million and a net loss of $3.1 million for the period from November 10, 2016 through December 31, 2016 . The following table reflects the unaudited pro forma consolidated results of operations for the period presented, as though the acquisition of TIW had occurred on January 1, 2015: Year Ended December 31, 2016 2015 (In thousands, except per share data) (unaudited) Revenues $ 595,797 $ 943,714 Net income $ 84,756 $ 193,310 Basic earnings per share $ 2.26 $ 5.04 Diluted earnings per share $ 2.25 $ 5.02 The unaudited pro forma financial information is presented for illustrative purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed on the date indicated, nor is it indicative of future operating results. The pro forma results do not include, for example, the effects of anticipated synergies from the acquisition.

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories consist of the following: December 31, 2016 2015 (In thousands) Raw materials and supplies $ 85,684 $ 101,311 Work in progress 81,645 104,102 Finished goods 233,732 178,292 401,061 383,705 Less: allowance for obsolete and excess inventory (45,648 ) (39,247 ) Total inventory $ 355,413 $ 344,458

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment consists of: Estimated Useful Lives December 31, 2016 2015 (In thousands) Land and improvements 10-25 years $ 26,653 $ 27,753 Buildings 15-40 years 201,239 188,420 Machinery, equipment and other 3-10 years 389,111 351,477 617,003 567,650 Less accumulated depreciation (293,854 ) (273,399 ) Total property, plant and equipment $ 323,149 $ 294,251 Depreciation expense totaled $31.6 million , $30.5 million and $31.2 million for 2016 , 2015 and 2014 , respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill by reporting unit during the year ended December 31, 2016 were as follows: Carrying Value Carrying Value January 1, 2016 Acquisition of TIW Impairments December 31, 2016 (In thousands) Western Hemisphere $ — $ 26,632 $ — $ 26,632 Eastern Hemisphere — 7,739 — 7,739 Asia-Pacific — — — — Total $ — $ 34,371 $ — $ 34,371

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets, the majority of which were acquired in the acquisition of TIW, consist of the following: Estimated 2016 2015 Gross Book Value Accumulated Amortization Net Book Value Gross Book Value Accumulated Amortization Net Book Value (In thousands) Trademarks indefinite $ 8,416 $ — $ 8,416 $ — $ — $ — Patents 15 - 30 years 3,583 294 3,289 248 248 — Customer relationships 5 - 15 years 18,057 168 17,889 — — — $ 30,056 $ 462 $ 29,594 $ 248 $ 248 $ — Amortization expense was $0.2 million , none and none for 2016 , 2015 and 2014 , respectively. Based on the carrying value of intangible assets at December 31, 2016 , amortization expense for the subsequent five years is estimated to be as follows: 2017 — $1.5 million ; 2018 — $1.5 million ; 2019 — $1.5 million ; 2020 — $1.5 million ; and 2021 — $1.5 million .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is required to recognize the impact of a tax position that is more likely than not to be sustained upon examination based upon the technical merits of the position, including resolution of any appeals. An evaluation was performed for the tax years which remain subject to examination by major tax jurisdictions as of December 31, 2016 , which are the years ended December 31, 2009 through December 31, 2015 . The Company has occasionally been assessed interest or penalties by major tax jurisdictions; these assessments historically have not materially impacted the Company’s financial results. Interest expense assessed by tax jurisdictions is included with interest expense and assessed penalties are included in selling, general and administrative expenses. The Company evaluates uncertain tax positions for recognition and measurement in the consolidated financial statements. To recognize a tax position, the Company determines whether it is more likely than not that the tax positions will be sustained upon examination, including resolution of any related appeals or litigation, based on the technical merits of the position. A tax position that meets the more likely than not threshold is measured to determine the amount of benefit to be recognized in the consolidated financial statements. The amount of tax benefit recognized with respect to any tax position is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement. The Company had an uncertain tax position of $5.7 million at December 31, 2016 due to uncertainty in special provisions in foreign tax jurisidictions. There were no uncertain tax positions for the years ended December 31, 2015 and 2014 . If it is more likely than not that the related tax benefits will not be realized, a valuation allowance would be established to reduce deferred tax assets. As of December 31, 2016 and 2015 , the Company determined that a valuation allowance was not necessary. A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the year ended December 31, 2016 is as follows: 2016 (In thousands) Balance at beginning of year $ — Additions for tax positions related to the current year — Additions for tax positions in prior years 3,628 Additions related to acquisitions 2,089 Balance at end of year $ 5,717 It is reasonably possible that the Company's existing liabilities for unrecognized tax benefits may increase or decrease in the year ending December 31, 2017 , primarily due to the progression of any audits and the expiration of statutes of limitation. However, the Company cannot reasonably estimate a range of potential changes in its existing liabilities for unrecognized tax benefits due to various uncertainties, such as the unresolved nature of any possible audits. As of December 31, 2016 , if recognized, $5.7 million of the Company's unrecognized tax benefits, including interest and penalties, would favorably impact the effective tax rate. Income before income taxes consisted of the following: Year Ended December 31, 2016 2015 2014 (In thousands) Domestic $ 33,543 $ 107,158 $ 124,571 Foreign 82,325 142,613 154,809 Total $ 115,868 $ 249,771 $ 279,380 The income tax provision (benefit) consists of the following: Year Ended December 31, 2016 2015 2014 (In thousands) Current: Federal $ 8,461 $ 33,017 $ 43,652 Foreign 15,246 28,229 30,022 Total current 23,707 61,246 73,674 Deferred: Federal 1,121 (1,611 ) (5,916 ) Foreign (2,181 ) (1,872 ) 2,910 Total deferred (1,060 ) (3,483 ) (3,006 ) Total $ 22,647 $ 57,763 $ 70,668 The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows: Year Ended December 31, 2016 2015 2014 Federal income tax statutory rate 35.0 % 35.0 % 35.0 % Foreign income tax rate differential (11.7 ) (7.3 ) (6.0 ) Foreign development tax incentive (0.9 ) (1.3 ) (1.6 ) Manufacturing benefit (1.1 ) (1.4 ) (1.7 ) Foreign intellectual property tax benefit (1.0 ) (0.8 ) — Other (0.8 ) (1.1 ) (0.4 ) Effective income tax rate 19.5 % 23.1 % 25.3 % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Based upon existing market conditions and the Company’s earnings prospects, it is anticipated that all deferred tax assets will be realized in future years. If it is more likely than not that the related tax benefits will not be realized, a valuation allowance would be established to reduce deferred tax assets. As of December 31, 2016 and 2015 , the Company determined that a valuation allowance was not necessary. Significant components of the Company’s net deferred tax assets (liabilities) are as follows: December 31, 2016 2015 (In thousands) Net current deferred tax assets: Inventory $ 11,674 $ 11,062 Inventory reserve 9,857 8,926 Allowance for doubtful accounts 1,311 1,578 Reserve for accrued liabilities 840 1,205 Other 815 1,842 Net current deferred tax assets 24,497 24,613 Net non-current deferred tax liability: Property, plant and equipment (9,552 ) (10,583 ) Stock options 6,052 6,898 Other 1,699 708 Net non-current deferred tax liabilities (1,801 ) (2,977 ) Net deferred tax asset $ 22,696 $ 21,636 Undistributed earnings of the Company’s foreign subsidiaries are considered to be indefinitely reinvested and, accordingly, no provision for U.S. federal income taxes has been provided thereon. The estimate of undistributed earnings of the Company’s foreign subsidiaries amounted to $854 million as of December 31, 2016 . Upon distribution of those earnings in the form of dividends or otherwise, the Company may be subject to both U.S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to the various foreign countries. Determination of the amount of unrecognized deferred U.S. income tax liability is not practicable. The Company paid $23.0 million , $61.7 million and $69.9 million in income taxes in 2016 , 2015 and 2014 , respectively.

Other Accrued Liabilities

Other Accrued Liabilities	12 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: December 31, 2016 2015 (In thousands) Payroll taxes $ 3,151 $ 2,639 Property, sales and other taxes 6,258 7,059 Commissions payable 1,424 1,925 Accrued vendor costs 2,185 3,134 Accrued warranties 3,853 4,414 Other 1,245 313 Total $ 18,116 $ 19,484

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Postemployment Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a defined-contribution 401(k) plan covering domestic employees and a defined-contribution pension plan covering certain foreign employees. The Company generally makes contributions to the plans equal to each participant’s eligible contributions for the plan year up to a specified percentage of the participant’s annual compensation. The Company’s contribution expense was $4.6 million , $5.7 million and $5.9 million in 2016 , 2015 and 2014 , respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company leases certain offices, shop and warehouse facilities, automobiles and equipment. Total lease expense incurred was $5.0 million , $5.1 million and $4.2 million in 2016 , 2015 and 2014 , respectively. Future annual minimum lease commitments at December 31, 2016 are as follows: 2017 — $3.5 million ; 2018 — $2.4 million ; 2019 — $1.8 million ; 2020 — $1.6 million ; 2021 — $0.8 million ; and thereafter— $6.7 million . Brazilian Tax Issue From 2002 to 2007, the Company’s Brazilian subsidiary imported goods through the State of Espirito Santo in Brazil and subsequently transferred them to its facility in the State of Rio de Janeiro. During that period, the Company’s Brazilian subsidiary paid taxes to the State of Espirito Santo on its imports. Upon the final sale of these goods, the Company’s Brazilian subsidiary collected taxes from customers and remitted them to the State of Rio de Janeiro net of the taxes paid on importation of those goods to the State of Espirito Santo in accordance with the Company’s understanding of Brazilian tax laws. In August 2007, the State of Rio de Janeiro served the Company’s Brazilian subsidiary with assessments to collect a state tax on the importation of goods through the State of Espirito Santo from 2002 to 2007 claiming that these taxes were due and payable to it under applicable law. The Company settled these assessments with payments to the State of Rio de Janeiro of $ 12.2 million in March 2010 and $ 3.9 million in December 2010. Approximately $ 7.8 million of these settlement payments were attributable to penalties, interest and amounts that had expired under the statute of limitations so that amount was recorded as an expense. The remainder of the settlement payments generated credits (recorded as a long-term prepaid tax) to be used to offset future state taxes on sales to customers in the State of Rio de Janeiro, subject to certification by the tax authorities. During the second quarter of 2015, the tax authorities certified approximately $ 8.3 million of those credits paid in 2010 and granted an additional $ 2.3 million in inflation-related credits. The additional amount of credits granted by the tax authorities increased long-term prepaid taxes and decreased selling, general and administrative expenses by $ 2.3 million . In December 2010 and January 2011, the Company’s Brazilian subsidiary was served with two additional assessments totaling approximately $ 13.0 million from the State of Rio de Janeiro to cancel the credits associated with the tax payments to the State of Espirito Santo (Santo Credits) on the importation of goods from July 2005 to October 2007. The Santo Credits are not related to the credits described above. The Company has objected to these assessments on the grounds that they would represent double taxation on the importation of the same goods and that the Company is entitled to the credits under applicable Brazilian law. With regard to the December 2010 assessment, the Company’s Brazilian subsidiary filed an appeal with a State of Rio de Janeiro judicial court to annul the tax assessment following a ruling against the Company by the tax administration’s highest council. In connection with that appeal, the Company was required to deposit with the court approximately $ 3.1 million in December 2014 as the full amount of the assessment with penalties and interest. The Company filed a similar appeal in the judicial system with regard to the January 2011 assessment and was required to deposit with the court approximately $5.7 million in December 2016. The Company believes that these credits are valid and that success in the judicial court process is probable. Based upon this analysis, the Company has not accrued any liability in conjunction with this matter. Since 2007, the Company’s Brazilian subsidiary has paid taxes on the importation of goods directly to the State of Rio de Janeiro and the Company does not expect any similar issues to exist for periods subsequent to 2007. General The Company operates its business and markets its products and services in most of the significant oil and gas producing areas in the world and is, therefore, subject to the risks customarily attendant to international operations and dependency on the condition of the oil and gas industry. Additionally, products of the Company are used in potentially hazardous drilling, completion, and production applications that can cause personal injury, product liability and environmental claims. Although exposure to such risk has not resulted in any significant problems in the past, there can be no assurance that ongoing and future developments will not adversely impact the Company. The Company is also involved in a number of legal actions arising in the ordinary course of business. Although no assurance can be given with respect to the ultimate outcome of such legal action, in the opinion of management, the ultimate liability with respect thereto will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.

Geographic Segments

Geographic Segments	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Geographic Segments	Geographic Segments Year ended December 31, 2016 2015 2014 (In thousands) Revenues: Western Hemisphere Products $ 254,359 $ 332,452 $ 430,597 Services 63,350 88,376 74,544 Intercompany 43,856 53,429 55,094 Total $ 361,565 $ 474,257 $ 560,235 Eastern Hemisphere Products $ 106,862 $ 234,853 $ 205,185 Services 34,818 52,963 59,794 Intercompany 337 5,799 10,719 Total $ 142,017 $ 293,615 $ 275,698 Asia-Pacific Products $ 71,791 $ 118,059 $ 137,423 Services 7,551 17,607 23,414 Intercompany 1,882 5,124 3,165 Total $ 81,224 $ 140,790 $ 164,002 Summary Products $ 433,012 $ 685,364 $ 773,205 Services 105,719 158,946 157,752 Intercompany 46,075 64,352 68,978 Eliminations (46,075 ) (64,352 ) (68,978 ) Total $ 538,731 $ 844,310 $ 930,957 Depreciation and amortization: Western Hemisphere 22,455 20,301 20,851 Eastern Hemisphere 4,965 5,685 5,794 Asia-Pacific 4,437 4,491 4,510 Total $ 31,857 $ 30,477 $ 31,155 Income before income taxes: Western Hemisphere $ 40,280 $ 112,499 $ 143,206 Eastern Hemisphere 60,835 89,349 79,146 Asia-Pacific 12,779 38,155 54,302 Eliminations 1,974 9,768 2,726 Total $ 115,868 $ 249,771 $ 279,380 Total Long-Lived Assets: Western Hemisphere $ 317,875 $ 208,408 $ 221,597 Eastern Hemisphere 33,338 43,449 45,517 Asia-Pacific 53,960 55,021 57,823 Eliminations (480 ) (2,926 ) (2,926 ) Total $ 404,693 $ 303,952 $ 322,011 Total Assets: Western Hemisphere $ 775,358 $ 677,460 $ 731,448 Eastern Hemisphere 318,529 391,672 375,781 Asia-Pacific 370,043 372,823 354,329 Eliminations (2,526 ) (13,705 ) (12,307 ) Total $ 1,461,404 $ 1,428,250 $ 1,449,251 The Company’s operations are organized into three geographic segments—Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia-Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services and the Company has major manufacturing facilities in all three of its headquarter locations as well as in Macae, Brazil. Eliminations of operating profits are related to intercompany inventory transfers that are deferred until shipment is made to third party customers. In 2016 , Chevron and its affiliated companies accounted for approximately 16% of the Company’s total revenues. In 2015 and 2014 , Chevron and its affiliated companies accounted for approximately 12% and 10% , respectively, of the Company’s total revenues. No other customer accounted for more than 10% of the Company’s total revenues in 2016, 2015 or 2014.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Under a Stockholder Rights Plan adopted by the Board of Directors on November 24, 2008, each share of common stock includes one right to purchase from the Company a unit consisting of one hundredth of a share (a “Fractional Share”) of Series A Junior Participating Preferred Stock at a specific purchase price per Fractional Share, subject to adjustment in certain events. The rights will cause substantial dilution to any person or group that attempts to acquire the Company without the approval of the Company’s Board of Directors.

Stock-Based Compensation and St

Stock-Based Compensation and Stock Awards	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation and Stock Awards	Stock-Based Compensation and Stock Awards Stock Options On May 13, 2004, the Company’s stockholders approved the 2004 Incentive Plan of Dril-Quip, Inc. (as amended in 2012 and approved by the Company’s stockholders on May 10, 2012, the “2004 Plan”), which reserved up to 2,696,294 shares of common stock to be used in connection with the 2004 Plan. Persons eligible for awards under the 2004 Plan are employees holding positions of responsibility with the Company or any of its subsidiaries and members of the Board of Directors. Options granted under the 2004 Plan have a term of ten years and become exercisable in cumulative annual increments of one-fourth of the total number of shares of common stock subject thereto, beginning on the first anniversary of the date of the grant. The fair value of stock options granted was estimated on the grant date using the Black-Scholes option pricing model. The expected life was based on the Company’s historical trends, and volatility is based on the historical volatility over the expected life of the options. The risk-free interest rate is based on U.S. Treasury yield curve at the grant date. The Company does not pay dividends and, therefore, there is no assumed dividend yield. Option activity for the year ended December 31, 2016 was as follows: Number of Options Weighted Average Price Aggregate intrinsic value (in millions) Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2015 415,122 55.64 Granted — — Exercised (54,350 ) 40.61 Forfeited (8,813 ) 67.71 Outstanding at December 31, 2016 351,959 $ 57.66 $ 2.5 3.5 Exercisable at December 31, 2016 351,959 $ 57.66 $ 2.5 3.5 The total intrinsic value of stock options exercised in 2016 , 2015 and 2014 was $1.0 million , $0.8 million and $2.0 million , respectively. The income tax benefit realized from stock options exercised was $357,000 , $263,000 and $718,000 for the years ended December 31, 2016 , 2015 and 2014 , respectively. There were no anti-dilutive stock option shares on December 31, 2016 . Stock-based compensation is recognized as selling, general and administrative expense in the accompanying Consolidated Statements of Income. For the year ended December 31, 2016 , there was no stock-based compensation expense for stock option awards. During the years ended December 31, 2015 and 2014 , stock-based compensation expense for stock option awards was $1.1 million and $2.5 million , respectively. No stock-based compensation expense was capitalized during 2016 , 2015 and 2014 . Options granted to employees vest over four years and the Company recognizes compensation expense on a straight-line basis over the vesting period of the options. At December 31, 2016 , there was no unrecognized compensation expense related to nonvested stock options as all outstanding options were fully vested. Restricted Stock Awards On October 28, 2016 and 2015 , pursuant to the 2004 Plan, the Company awarded officers, directors and key employees restricted stock awards (RSAs), which is an award of common stock subject to time vesting. In May 2012, the Board of Directors amended the 2004 Plan to include non-employee directors as eligible for RSAs. The awards issued under the 2004 Plan are restricted as to transference, sale and other disposition. These RSAs vest ratably over a three year period. The RSAs may also vest in case of a change of control. Upon termination, whether voluntary or involuntary, the RSAs that have not vested will be returned to the Company resulting in stock forfeitures. The fair market value of the stock on the date of grant is amortized and charged to selling, general and administrative expense over the stipulated time period over which the RSAs vest on a straight-line basis, net of estimated forfeitures. The Company’s RSA activity and related information is presented below: RSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 193,596 $ 77.91 Granted 165,063 48.45 Vested (84,513 ) 84.98 Forfeited (4,763 ) 80.60 Nonvested balance at December 31, 2016 269,383 $ 57.59 RSA compensation expense for the years ended December 31, 2016 and 2015 totaled $7.2 million and $6.3 million for 2014 . For 2016 , 2015 and 2014 , the income tax benefit recognized in net income for RSAs was $1.2 million , $1.8 million and $2.2 million , respectively. As of December 31, 2016 , there was $14.0 million of total unrecognized compensation cost related to nonvested RSAs, which is expected to be recognized over a weighted average period of 2.2 years . There were 108,561 anti-dilutive restricted shares on December 31, 2016 . Performance Unit Awards On October 28, 2016 and 2015 , pursuant to the 2004 Plan, the Company awarded performance unit awards (Performance Units) to officers and key employees. The Performance Units were valued based on a Monte Carlo simulation at $53.46 for the 2016 grants and $79.00 for the 2015 grants, approximately 110.3% and 120.2% , respectively, of the grant share price. Under the plan, participants may earn from 0% to 200% of their target award based upon the Company’s relative total share return (TSR) in comparison to the 15 component companies of the Philadelphia Oil Service Index. The TSR is calculated over a three year period from October 1, 2015 and 2016 to September 30, 2018 and 2019 , respectively, and assumes reinvestment of dividends for companies within the index that pay dividends, which Dril-Quip does not. Assumptions used in the Monte Carlo simulation are as follows: 2015 2016 Grant date October 28, 2015 October 28, 2016 Performance period October 1, 2015 to September 30, 2018 October 1, 2016 to September 30, 2019 Volatility 29.5% 32.5% Risk-free interest rate 0.9795% 1.0100% Grant date price $65.72 $48.45 The Company’s Performance Unit activity and related information is presented below: Number of Performance Units Weighted Average Grant Date Fair Value Per Unit Nonvested balance at December 31, 2015 135,969 $ 106.49 Granted 87,503 53.46 Vested (27,253 ) 138.31 Forfeited — — Nonvested balance at December 31, 2016 196,219 $ 78.42 Performance Unit compensation expense was $4.6 million for the year ended December 31, 2016 , $4.5 million for 2015 and $3.1 million for 2014 . For 2016 , 2015 and 2014 , the income tax benefit recognized in net income for Performance Units was $462,000 , $1.1 million and none , respectively. As of December 31, 2016 , there was $8.9 million of total unrecognized compensation expense related to nonvested Performance Units which is to be recognized over a weighted average period of 2.1 years . There were 64,546 anti-dilutive Performance Units at December 31, 2016 . Director Stock Compensation Awards In June 2014, the Board of Directors authorized a stock compensation program for the directors pursuant to the 2004 Plan. Under this program, the Directors may elect to receive all or a portion of their fees in the form of restricted stock awards (DSA) in an amount equal to 125% of the fees in lieu of cash. The awards are made quarterly on the first business day after the end of each calendar quarter and vest on January 1 on the second year after the grant date. The Company DSA activity for December 31, 2016 is presented below: DSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 6,162 $ 71.77 Granted 8,174 58.47 Vested (914 ) 89.39 Forfeited — — Nonvested balance at December 31, 2016 13,422 $ 62.46 Director stock compensation awards expense for 2016 was $405,000 as compared to $328,000 for 2015 and $21,600 for 2014 . For 2016 , 2015 and 2014 , the income tax benefit recognized in net income for DSAs was $19,000 , $41,000 and none , respectively. There was $300,000 of unrecognized compensation expense related to nonvested DSAs, which is expected to be recognized over a weighted average period of one year . There were 2,162 anti-diluted DSA shares on December 31, 2016 . The following table summarizes information for equity compensation plans in effect as of December 31, 2016 : Number of securities to be issued upon exercise of outstanding options(1) Weighted-average exercise price of outstanding options Number of securities remaining available for future issuance under equity compensation plan (excluding securities reflected in column (a)) Plan category (a) (b) (c) Equity compensation plans approved by stockholders Stock options 351,959 $ 57.66 184,773 Equity compensation plans not approved by stockholders — — — Total 351,959 $ 57.66 184,773 (1) Excludes 282,805 shares of unvested RSAs and DSAs and 196,219 of unvested Performance Units, which were granted pursuant to the 2004 Plan approved by the stockholders.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of the basic and diluted earnings per share computation. Year Ended December 31, 2016 2015 2014 (In thousands, except per share amounts) Net income $ 93,221 $ 192,008 $ 208,712 Weighted average basic common shares outstanding 37,537 38,364 39,964 Effect of dilutive securities—stock options and awards 130 167 226 Total shares and dilutive securities 37,667 38,531 40,190 Basic earnings per common share $ 2.48 $ 5.00 $ 5.22 Diluted earnings per common share $ 2.47 $ 4.98 $ 5.19

Stock Repurchase Plan

Stock Repurchase Plan	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stock Repurchase Plan	Stock Repurchase Plan Under two separate share repurchase plans approved by its Board of Directors, the Company repurchased and cancelled 2,023,172 shares for a total cost of $190 million during 2014. On February 26, 2015, the Company announced that its Board of Directors authorized a stock repurchase plan under which the Company was authorized to repurchase up to $100 million of its common stock. The Company repurchased 1,184,700 shares in 2015 at an average cost of $63.98 per share for a total cost of $75.8 million . During the first six months of 2016 , the Company repurchased 400,500 shares under this plan at an average cost of $60.51 per share for a total cost of $24.2 million , to conclude all repurchases under the February 26, 2015 plan. All repurchased shares were subsequently cancelled. On July 26, 2016, the Board of Directors authorized a new stock repurchase plan under which the Company can repurchase up to $100 million of its common stock. The repurchase plan has no set expiration date and any repurchased shares are expected to be cancelled. No repurchases have been made pursuant to this plan as of December 31, 2016 .

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations (Unaudited)	Quarterly Results of Operations (Unaudited): Quarter Ended March 31 June 30 Sept. 30 Dec. 31 (In thousands, except per share data) (Unaudited) 2016 Revenues $ 166,561 $ 142,439 $ 123,640 $ 106,091 Cost of sales 93,096 79,881 77,633 77,794 Gross profit 73,465 62,558 46,007 28,297 Operating income (loss) 49,343 45,217 22,933 (4,634 ) Net income 36,769 36,137 19,013 1,302 Earnings per share: Basic (1) $ 0.97 $ 0.96 $ 0.51 $ 0.03 Diluted (1) 0.97 0.96 0.51 0.03 2015 Revenues $ 226,002 $ 215,276 $ 201,402 $ 201,630 Cost of sales 125,138 117,664 108,132 108,352 Gross profit 100,864 97,612 93,270 93,278 Operating income 71,693 52,579 64,255 60,308 Net income 53,664 39,213 50,777 48,354 Earnings per share: Basic (1) $ 1.38 $ 1.01 $ 1.32 $ 1.28 Diluted (1) 1.38 1.01 1.32 1.28 (1) The sum of the quarterly per share amounts may not equal the annual amount reported, as per share amounts are computed independently for each quarter and for the full year.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On January 6, 2017 , the Company acquired The Technologies Alliance Inc. d/b/a OilPatch Technologies (OPT) for $20.0 million . The purchase price was subject to closing adjustments and was funded with cash on hand. The acquisition and purchase price allocation do not meet the significant subsidiary test outlined in Regulation S-X Rule 1-02. Therefore, the Company does not expect the acquisition to have a material impact on the Company's Consolidated Balance Sheets. OPT's results of operations for the periods prior to this acquisition were not material to the Company's Consolidated Statements of Operations.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Description Balance at Charges to costs Recoveries Balance at end (In thousands) Allowance for doubtful trade receivables December 31, 2016 $ 7,739 $ 1,259 $ (3,428 ) $ 5,570 December 31, 2015 6,241 5,741 (4,243 ) 7,739 December 31, 2014 2,364 4,832 (955 ) 6,241 Allowance for excess and slow moving inventory December 31, 2016 $ 39,247 $ 5,748 $ 653 $ 45,648 December 31, 2015 34,607 8,512 (3,872 ) 39,247 December 31, 2014 33,216 3,951 (2,560 ) 34,607

Significant Accounting Polici29

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities.
Cash and Cash Equivalents	Cash and Cash Equivalents Short-term investments that have a maturity of three months or less from the date of purchase are classified as cash equivalents. The Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in U.S. Treasury obligations and repurchase agreements backed by U.S. Treasury obligations. The Company’s investment objectives continue to be the preservation of capital and the maintenance of liquidity.
Trade Receivables	Trade Receivables The Company maintains an allowance for doubtful accounts on trade receivables equal to amounts estimated to be uncollectible. This estimate is based upon historical collection experience combined with a specific review of each customer’s outstanding trade receivable balance. Management believes that the allowance for doubtful accounts is adequate; however, actual write-offs may exceed the recorded allowance.
Inventories	Inventories Inventory costs are determined principally by the use of the first-in, first-out (FIFO) costing method and are stated at the lower of cost or market. Company manufactured inventory is valued principally using standard costs, which are calculated based upon direct costs incurred and overhead allocations and approximate actual costs. Inventory purchased from third-party vendors is principally valued at the weighted average cost. Periodically, obsolescence reviews are performed on slow-moving inventories and reserves are established based on current assessments about future demands and market conditions.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are carried at cost, with depreciation provided on a straight-line basis over their estimated useful lives. Property, plant and equipment acquired from TIW as of November 10, 2016 have been recorded at provisional fair values.
Goodwill	Goodwill Goodwill consists of the excess of the acquisition costs over the fair value of net assets acquired in business combinations. Goodwill is reviewed for impairment annually in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount may be impaired. For this purpose, goodwill is evaluated at the reporting unit level. Dril-Quip recorded goodwill related to the acquisition of TIW.
Intangible Assets	Intangible Assets Definite-lived intangible assets consist of patents and customer relationships. Dril-Quip recognizes amortization expense for definite-lived intangible assets on a straight-line basis over the estimated useful lives. Indefinite-lived intangible assets consist of trademarks, specifically trade names acquired as part of the acquisition of TIW. Indefinite-lived intangible assets are stated at cost and are not amortized; instead, they are tested for impairment at least annually. The Company reviews acquired trademarks for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the assets may be impaired. The fair value of trademarks is estimated using the relief from royalty method to estimate the value of the cost savings and a discounted cash flows method to estimate the value of future income. The sum of these two values for each trademark is the fair value of the trademark. If the carrying amount of trademarks exceeds the estimated fair value, the impairment is calculated as the excess of carrying amount over the estimate of fair value.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of an asset exceeds the estimated undiscounted future cash flows expected to be generated by the asset, an impairment charge is recognized by reflecting the asset at its fair value. No impairments of long-lived assets were recorded in 2016 , 2015 or 2014 .
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Current income taxes are provided on income reported for financial statement purposes, adjusted for transactions that do not enter into the computation of income taxes payable in the same year. Deferred tax assets and liabilities are measured using enacted tax rates for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company classifies interest and penalties related to uncertain tax positions as income taxes in its financial statements.
Revenue Recognition	Revenue Recognition Product revenues The Company recognizes product revenues from two methods: • product revenues recognized under the percentage-of-completion method; and • product revenues from the sale of products that do not qualify for the percentage-of-completion method.
Revenues recognized under the percentage-of-completion method	Revenues recognized under the percentage-of-completion method The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics: • the contracts call for products which are designed to customer specifications; • the structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration; • the contracts contain specific terms as to milestones, progress billings and delivery dates; and • product requirements cannot be filled directly from the Company’s standard inventory. For each project, the Company prepares a detailed analysis of estimated costs, profit margin, completion date and risk factors which include availability of material, production efficiencies and other factors that may impact the project. On a quarterly basis, management reviews the progress of each project, which may result in revisions of previous estimates, including revenue recognition. The Company calculates the percentage complete and applies the percentage to determine the revenues earned and the appropriate portion of total estimated costs. Losses, if any, are recorded in full in the period they become known. Historically, the Company’s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project. Under the percentage-of-completion method, billings may not correlate directly to the revenue recognized. Based upon the terms of the specific contract, billings may be in excess of the revenue recognized, in which case the amounts are included in customer prepayments as a liability on the Consolidated Balance Sheets. Likewise, revenue recognized may exceed customer billings in which case the amounts are reported in trade receivables. Unbilled revenues are expected to be billed and collected within one year. At December 31, 2016 and 2015 , receivables included $56.8 million and $70.8 million of unbilled receivables, respectively. For the year ended December 31, 2016 , there were 10 projects representing approximately 14% of the Company’s total revenues and approximately 17% of its product revenues, and 14 projects during 2015 representing approximately 16% of the Company’s total revenues and approximately 19% of its product revenues, which were accounted for using percentage-of-completion accounting.
Revenues not recognized under the percentage-of-completion method	Revenues not recognized under the percentage-of-completion method Revenues from the sale of inventory products, not accounted for under the percentage-of-completion method, are recorded at the time the manufacturing processes are complete and ownership is transferred to the customer.
Service revenues	Service revenues The Company earns service revenues from three sources: • technical advisory assistance; • rental of running tools; and • rework and reconditioning of customer-owned Dril-Quip products. The Company does not install products for its customers, but it does provide technical advisory assistance. At the time of delivery of the product, the customer is not obligated to buy or rent the Company’s running tools and the Company is not obligated to perform any subsequent services relating to installation. Technical advisory assistance service revenue is recorded at the time the service is rendered. Service revenues associated with the rental of running and installation tools are recorded as earned. Rework and reconditioning service revenues are recorded when the refurbishment process is complete. The Company normally negotiates contracts for products, including those accounted for under the percentage-of-completion method, and services separately. For all product sales, it is the customer’s decision as to the timing of the product installation as well as whether Dril-Quip running tools will be purchased or rented. Furthermore, the customer is under no obligation to utilize the Company’s technical advisory assistance services. The customer may use a third party or their own personnel.
Foreign Currency	Foreign Currency The financial statements of foreign subsidiaries are translated into U.S. dollars at period-end exchange rates except for revenues and expenses, which are translated at average monthly rates. Translation adjustments are reflected as a separate component of stockholders’ equity and have no effect on current earnings or cash flows. Foreign currency exchange transactions are recorded using the exchange rate at the date of the settlement.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, receivables and payables. The carrying values of these financial instruments approximate their respective fair values as they are short-term in nature.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments which subject the Company to concentrations of credit risk primarily include trade receivables. The Company grants credit to its customers, which operate primarily in the oil and gas industry. The Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company maintains reserves for potential losses, and actual losses have historically been within management’s expectations. In addition, the Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in obligations of the U.S. Treasury and repurchase agreements backed by U.S. Treasury obligations. Changes in the financial markets and interest rates could affect the interest earned on short-term investments.
Earnings Per Share	Earnings Per Share Basic earnings per common share are computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share are computed considering the dilutive effect of stock options and awards using the treasury stock method. Options where the exercise price exceeds the average market price are excluded from the calculation of diluted net earnings per share because their effect would be anti-dilutive.

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table sets forth the preliminary purchase price allocation, which was based on fair value of assets acquired and liabilities assumed at the acquisition date, November 10, 2016: Valuation at November 10, 2016 (In thousands) Cash $ 1,829 Trade receivables 9,794 Inventories 29,896 Prepaid and other current assets 3,572 Deferred income taxes 205 Property, plant and equipment 38,058 Intangible assets (1) 29,808 Total assets acquired $ 113,162 Accounts payable 5,599 Customer prepayments 2,757 Other accrued liabilities 2,644 Deferred tax liabilities, non-current 2,261 Total liabilities assumed $ 13,261 Net identifiable assets acquired $ 99,901 Goodwill 34,371 Net assets acquired $ 134,272 (1) Includes $3.3 million of patents with a weighted average useful life of 10 years , $8.4 million of tradenames with an indefinite life and $18.1 million of customer relationships with a weighted average useful life of 15 years . See Note 8 for further information regarding intangible assets.
Business Acquisition, Pro Forma Information	The following table reflects the unaudited pro forma consolidated results of operations for the period presented, as though the acquisition of TIW had occurred on January 1, 2015: Year Ended December 31, 2016 2015 (In thousands, except per share data) (unaudited) Revenues $ 595,797 $ 943,714 Net income $ 84,756 $ 193,310 Basic earnings per share $ 2.26 $ 5.04 Diluted earnings per share $ 2.25 $ 5.02

Inventories, net (Tables)

Inventories, net (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: December 31, 2016 2015 (In thousands) Raw materials and supplies $ 85,684 $ 101,311 Work in progress 81,645 104,102 Finished goods 233,732 178,292 401,061 383,705 Less: allowance for obsolete and excess inventory (45,648 ) (39,247 ) Total inventory $ 355,413 $ 344,458

Property, Plant and Equipment32

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consists of: Estimated Useful Lives December 31, 2016 2015 (In thousands) Land and improvements 10-25 years $ 26,653 $ 27,753 Buildings 15-40 years 201,239 188,420 Machinery, equipment and other 3-10 years 389,111 351,477 617,003 567,650 Less accumulated depreciation (293,854 ) (273,399 ) Total property, plant and equipment $ 323,149 $ 294,251

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reporting unit during the year ended December 31, 2016 were as follows: Carrying Value Carrying Value January 1, 2016 Acquisition of TIW Impairments December 31, 2016 (In thousands) Western Hemisphere $ — $ 26,632 $ — $ 26,632 Eastern Hemisphere — 7,739 — 7,739 Asia-Pacific — — — — Total $ — $ 34,371 $ — $ 34,371

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets	Intangible assets, the majority of which were acquired in the acquisition of TIW, consist of the following: Estimated 2016 2015 Gross Book Value Accumulated Amortization Net Book Value Gross Book Value Accumulated Amortization Net Book Value (In thousands) Trademarks indefinite $ 8,416 $ — $ 8,416 $ — $ — $ — Patents 15 - 30 years 3,583 294 3,289 248 248 — Customer relationships 5 - 15 years 18,057 168 17,889 — — — $ 30,056 $ 462 $ 29,594 $ 248 $ 248 $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Uncertain Tax Positions	A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the year ended December 31, 2016 is as follows: 2016 (In thousands) Balance at beginning of year $ — Additions for tax positions related to the current year — Additions for tax positions in prior years 3,628 Additions related to acquisitions 2,089 Balance at end of year $ 5,717
Schedule of Income Before Income Taxes	Income before income taxes consisted of the following: Year Ended December 31, 2016 2015 2014 (In thousands) Domestic $ 33,543 $ 107,158 $ 124,571 Foreign 82,325 142,613 154,809 Total $ 115,868 $ 249,771 $ 279,380
Schedule of Income Tax Provision (Benefit)	The income tax provision (benefit) consists of the following: Year Ended December 31, 2016 2015 2014 (In thousands) Current: Federal $ 8,461 $ 33,017 $ 43,652 Foreign 15,246 28,229 30,022 Total current 23,707 61,246 73,674 Deferred: Federal 1,121 (1,611 ) (5,916 ) Foreign (2,181 ) (1,872 ) 2,910 Total deferred (1,060 ) (3,483 ) (3,006 ) Total $ 22,647 $ 57,763 $ 70,668
Schedule of Effective Income Tax Rate Reflected in Provision for Income Taxes and U.S. Federal Statutory Rate	The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows: Year Ended December 31, 2016 2015 2014 Federal income tax statutory rate 35.0 % 35.0 % 35.0 % Foreign income tax rate differential (11.7 ) (7.3 ) (6.0 ) Foreign development tax incentive (0.9 ) (1.3 ) (1.6 ) Manufacturing benefit (1.1 ) (1.4 ) (1.7 ) Foreign intellectual property tax benefit (1.0 ) (0.8 ) — Other (0.8 ) (1.1 ) (0.4 ) Effective income tax rate 19.5 % 23.1 % 25.3 %
Components of Net Deferred Tax Assets (Liabilities)	Significant components of the Company’s net deferred tax assets (liabilities) are as follows: December 31, 2016 2015 (In thousands) Net current deferred tax assets: Inventory $ 11,674 $ 11,062 Inventory reserve 9,857 8,926 Allowance for doubtful accounts 1,311 1,578 Reserve for accrued liabilities 840 1,205 Other 815 1,842 Net current deferred tax assets 24,497 24,613 Net non-current deferred tax liability: Property, plant and equipment (9,552 ) (10,583 ) Stock options 6,052 6,898 Other 1,699 708 Net non-current deferred tax liabilities (1,801 ) (2,977 ) Net deferred tax asset $ 22,696 $ 21,636

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Other Accrued Liabilities	Other accrued liabilities consist of the following: December 31, 2016 2015 (In thousands) Payroll taxes $ 3,151 $ 2,639 Property, sales and other taxes 6,258 7,059 Commissions payable 1,424 1,925 Accrued vendor costs 2,185 3,134 Accrued warranties 3,853 4,414 Other 1,245 313 Total $ 18,116 $ 19,484

Geographic Segments (Tables)

Geographic Segments (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting	Year ended December 31, 2016 2015 2014 (In thousands) Revenues: Western Hemisphere Products $ 254,359 $ 332,452 $ 430,597 Services 63,350 88,376 74,544 Intercompany 43,856 53,429 55,094 Total $ 361,565 $ 474,257 $ 560,235 Eastern Hemisphere Products $ 106,862 $ 234,853 $ 205,185 Services 34,818 52,963 59,794 Intercompany 337 5,799 10,719 Total $ 142,017 $ 293,615 $ 275,698 Asia-Pacific Products $ 71,791 $ 118,059 $ 137,423 Services 7,551 17,607 23,414 Intercompany 1,882 5,124 3,165 Total $ 81,224 $ 140,790 $ 164,002 Summary Products $ 433,012 $ 685,364 $ 773,205 Services 105,719 158,946 157,752 Intercompany 46,075 64,352 68,978 Eliminations (46,075 ) (64,352 ) (68,978 ) Total $ 538,731 $ 844,310 $ 930,957 Depreciation and amortization: Western Hemisphere 22,455 20,301 20,851 Eastern Hemisphere 4,965 5,685 5,794 Asia-Pacific 4,437 4,491 4,510 Total $ 31,857 $ 30,477 $ 31,155 Income before income taxes: Western Hemisphere $ 40,280 $ 112,499 $ 143,206 Eastern Hemisphere 60,835 89,349 79,146 Asia-Pacific 12,779 38,155 54,302 Eliminations 1,974 9,768 2,726 Total $ 115,868 $ 249,771 $ 279,380 Total Long-Lived Assets: Western Hemisphere $ 317,875 $ 208,408 $ 221,597 Eastern Hemisphere 33,338 43,449 45,517 Asia-Pacific 53,960 55,021 57,823 Eliminations (480 ) (2,926 ) (2,926 ) Total $ 404,693 $ 303,952 $ 322,011 Total Assets: Western Hemisphere $ 775,358 $ 677,460 $ 731,448 Eastern Hemisphere 318,529 391,672 375,781 Asia-Pacific 370,043 372,823 354,329 Eliminations (2,526 ) (13,705 ) (12,307 ) Total $ 1,461,404 $ 1,428,250 $ 1,449,251

Stock-Based Compensation and 38

Stock-Based Compensation and Stock Awards (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule of Option Activity	Option activity for the year ended December 31, 2016 was as follows: Number of Options Weighted Average Price Aggregate intrinsic value (in millions) Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2015 415,122 55.64 Granted — — Exercised (54,350 ) 40.61 Forfeited (8,813 ) 67.71 Outstanding at December 31, 2016 351,959 $ 57.66 $ 2.5 3.5 Exercisable at December 31, 2016 351,959 $ 57.66 $ 2.5 3.5
Summary of RSA Activity	The Company’s RSA activity and related information is presented below: RSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 193,596 $ 77.91 Granted 165,063 48.45 Vested (84,513 ) 84.98 Forfeited (4,763 ) 80.60 Nonvested balance at December 31, 2016 269,383 $ 57.59
Summary of PSA Activity	The Company’s Performance Unit activity and related information is presented below: Number of Performance Units Weighted Average Grant Date Fair Value Per Unit Nonvested balance at December 31, 2015 135,969 $ 106.49 Granted 87,503 53.46 Vested (27,253 ) 138.31 Forfeited — — Nonvested balance at December 31, 2016 196,219 $ 78.42
Schedule of DSA Activity	The Company DSA activity for December 31, 2016 is presented below: DSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 6,162 $ 71.77 Granted 8,174 58.47 Vested (914 ) 89.39 Forfeited — — Nonvested balance at December 31, 2016 13,422 $ 62.46
Schedule of Information for Stock Option Plans	The following table summarizes information for equity compensation plans in effect as of December 31, 2016 : Number of securities to be issued upon exercise of outstanding options(1) Weighted-average exercise price of outstanding options Number of securities remaining available for future issuance under equity compensation plan (excluding securities reflected in column (a)) Plan category (a) (b) (c) Equity compensation plans approved by stockholders Stock options 351,959 $ 57.66 184,773 Equity compensation plans not approved by stockholders — — — Total 351,959 $ 57.66 184,773 (1) Excludes 282,805 shares of unvested RSAs and DSAs and 196,219 of unvested Performance Units, which were granted pursuant to the 2004 Plan approved by the stockholders.
Monte Carlo Simulation [Member]
Schedule of Assumptions Used in Monte Carlo Simulation	Assumptions used in the Monte Carlo simulation are as follows: 2015 2016 Grant date October 28, 2015 October 28, 2016 Performance period October 1, 2015 to September 30, 2018 October 1, 2016 to September 30, 2019 Volatility 29.5% 32.5% Risk-free interest rate 0.9795% 1.0100% Grant date price $65.72 $48.45

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	The following is a reconciliation of the basic and diluted earnings per share computation. Year Ended December 31, 2016 2015 2014 (In thousands, except per share amounts) Net income $ 93,221 $ 192,008 $ 208,712 Weighted average basic common shares outstanding 37,537 38,364 39,964 Effect of dilutive securities—stock options and awards 130 167 226 Total shares and dilutive securities 37,667 38,531 40,190 Basic earnings per common share $ 2.48 $ 5.00 $ 5.22 Diluted earnings per common share $ 2.47 $ 4.98 $ 5.19

Quarterly Results of Operatio40

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results of Operations	Quarter Ended March 31 June 30 Sept. 30 Dec. 31 (In thousands, except per share data) (Unaudited) 2016 Revenues $ 166,561 $ 142,439 $ 123,640 $ 106,091 Cost of sales 93,096 79,881 77,633 77,794 Gross profit 73,465 62,558 46,007 28,297 Operating income (loss) 49,343 45,217 22,933 (4,634 ) Net income 36,769 36,137 19,013 1,302 Earnings per share: Basic (1) $ 0.97 $ 0.96 $ 0.51 $ 0.03 Diluted (1) 0.97 0.96 0.51 0.03 2015 Revenues $ 226,002 $ 215,276 $ 201,402 $ 201,630 Cost of sales 125,138 117,664 108,132 108,352 Gross profit 100,864 97,612 93,270 93,278 Operating income 71,693 52,579 64,255 60,308 Net income 53,664 39,213 50,777 48,354 Earnings per share: Basic (1) $ 1.38 $ 1.01 $ 1.32 $ 1.28 Diluted (1) 1.38 1.01 1.32 1.28 (1) The sum of the quarterly per share amounts may not equal the annual amount reported, as per share amounts are computed independently for each quarter and for the full year.

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016SegmentLocation
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of geographic segments | Segment	3
Number of headquarter locations | Location	3

Significant Accounting Polici42

Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)ProjectSourceMethod	Dec. 31, 2015USD ($)Project	Dec. 31, 2014USD ($)
Accounting Policies [Abstract]
Inventory reserves	$ (45,648,000)	$ (39,247,000)
Impairments of long-lived assets	$ 0	0	$ 0
Number of product revenue sources | Method	2
Unbilled receivables	$ 56,800,000	$ 70,800,000
Number of projects | Project	10	14
Percentage of total revenues	14.00%	16.00%
Percentage of product revenues	17.00%	19.00%
Number of service revenue sources | Source	3
Gains/(losses) in foreign currency exchange transactions	$ (25,600,000)	$ (3,900,000)	$ (3,400,000)

New Accounting Standards - Narr

New Accounting Standards - Narrative (Details) $ in Millions	Feb. 29, 2016USD ($)
Accounting Standards Update 2016-02, Operating Leases, Future Minimum Payments Component [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating leases, future minimum payments	$ 16.8

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 14, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Nov. 10, 2016
Business Acquisition [Line Items]
Goodwill		$ 34,371	$ 34,371	$ 34,371	$ 0
TIW Corporation [Member]
Business Acquisition [Line Items]
Stock purchase agreement, par value of common stock (in dollars per share)	$ 100
Cash purchase price as a result of business acquisition	$ 142,700
Acquisition costs			$ 2,500
Goodwill	$ 34,400					$ 34,371
Revenues		6,600		595,797	943,714
Pre-tax operating loss		(4,400)		$ 84,756	$ 193,310
Net loss from business acquisition		$ (3,100)

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Nov. 10, 2016	Oct. 14, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 34,371			$ 0
TIW Corporation [Member]
Business Acquisition [Line Items]
Cash		$ 1,829
Trade receivables		9,794
Inventories		29,896
Prepaid and other current assets		3,572
Deferred income taxes		205
Property, plant and equipment		38,058
Intangible assets		29,808
Total assets acquired		113,162
Accounts payable		5,599
Customer prepayments		2,757
Other accrued liabilities		2,644
Deferred tax liabilities, non-current		2,261
Total liabilities assumed		13,261
Net identifiable assets acquired		99,901
Goodwill		34,371	$ 34,400
Net assets acquired		134,272
Patents [Member] | TIW Corporation [Member]
Business Acquisition [Line Items]
Intangible assets		3,300
Weighted average useful life	10 years
Customer Relationships [Member] | TIW Corporation [Member]
Business Acquisition [Line Items]
Intangible assets		18,100
Weighted average useful life	15 years
Trade Names [Member] | TIW Corporation [Member]
Business Acquisition [Line Items]
Intangible assets		$ 8,400

Business Acquisitions - Sched46

Business Acquisitions - Schedule of Pro Forma Information (Details) - TIW Corporation [Member] - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Revenues	$ 6,600	$ 595,797	$ 943,714
Net income	$ (4,400)	$ 84,756	$ 193,310
Basic earnings per share (in dollars per share)		$ 2.26	$ 5.04
Diluted earnings per share (in dollars per share)		$ 2.25	$ 5.02

Inventories, net - Schedule of

Inventories, net - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 85,684	$ 101,311
Work in progress	81,645	104,102
Finished goods	233,732	178,292
Inventory, gross, Total	401,061	383,705
Less: allowance for obsolete and excess inventory	(45,648)	(39,247)
Total inventory	$ 355,413	$ 344,458

Property, Plant and Equipment48

Property, Plant and Equipment, net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 617,003	$ 567,650
Less accumulated depreciation	(293,854)	(273,399)
Total property, plant and equipment	323,149	294,251
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 26,653	27,753
Land and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Land and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	25 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 201,239	188,420
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Machinery, Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 389,111	$ 351,477
Machinery, Equipment and Other [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery, Equipment and Other [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

Property, Plant and Equipment49

Property, Plant and Equipment, net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 31.6	$ 30.5	$ 31.2

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 0
Acquisitions	34,371
Impairments	0
Goodwill, Ending balance	34,371
Western Hemisphere [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	0
Acquisitions	26,632
Impairments	0
Goodwill, Ending balance	26,632
Eastern Hemisphere [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	0
Acquisitions	7,739
Impairments	0
Goodwill, Ending balance	7,739
Asia-Pacific [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	0
Acquisitions	0
Impairments	0
Goodwill, Ending balance	$ 0

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Trademarks	$ 8,416	$ 0
Gross Book Value	30,056	248
Accumulated Amortization	462	248
Net Book Value	29,594	0
Patents [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Book Value	3,583	248
Accumulated Amortization	294	248
Net Book Value	3,289	0
Customer Relationships [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Book Value	18,057	0
Accumulated Amortization	168	0
Net Book Value	$ 17,889	$ 0
Minimum [Member] | Patents [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years
Minimum [Member] | Customer Relationships [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	5 years
Maximum [Member] | Patents [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	30 years
Maximum [Member] | Customer Relationships [Member]
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 200,000	$ 0	$ 0
Amortization expense for 2017	1,500,000
Amortization expense for 2018	1,500,000
Amortization expense for 2019	1,500,000
Amortization expense for 2020	1,500,000
Amortization expense for 2021	$ 1,500,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Uncertain tax positions	$ 5,700,000	$ 0	$ 0
Amount of tax benefit recognized	50.00%
Provision for federal income tax rate	$ 0
Undistributed earnings of the Company's foreign subsidiaries	854,000,000
Income taxes paid	$ 23,000,000	$ 61,700,000	69,900,000
United Kingdom [member] | Patent Box [Member]
Income Taxes [Line Items]
Benefit recorded on intangible assets			$ 2,000,000	$ 2,000,000

Income Taxes - Schedule of Unce

Income Taxes - Schedule of Uncertain Tax Positions (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 0
Additions for tax positions related to the current year	0
Additions for tax positions in prior years	3,628,000
Additions related to acquisitions	2,089,000
Ending balance	$ 5,700,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Domestic	$ 33,543	$ 107,158	$ 124,571
Foreign	82,325	142,613	154,809
Income before income taxes	$ 115,868	$ 249,771	$ 279,380

Income Taxes - Schedule of In56

Income Taxes - Schedule of Income Tax Provision (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 8,461	$ 33,017	$ 43,652
Foreign	15,246	28,229	30,022
Total current	23,707	61,246	73,674
Deferred:
Federal	1,121	(1,611)	(5,916)
Foreign	(2,181)	(1,872)	2,910
Total deferred	(1,060)	(3,483)	(3,006)
Total	$ 22,647	$ 57,763	$ 70,668

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reflected in Provision for Income Taxes and U.S. Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Federal income tax statutory rate	35.00%	35.00%	35.00%
Foreign income tax rate differential	(11.70%)	(7.30%)	(6.00%)
Foreign development tax incentive	(0.90%)	(1.30%)	(1.60%)
Manufacturing benefit	(1.10%)	(1.40%)	(1.70%)
Foreign intellectual property tax benefit	(1.00%)	(0.80%)	0.00%
Other	(0.80%)	(1.10%)	(0.40%)
Effective income tax rate	19.50%	23.10%	25.30%

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Net current deferred tax assets:
Inventory	$ 11,674	$ 11,062
Inventory reserve	9,857	8,926
Allowance for doubtful accounts	1,311	1,578
Reserve for accrued liabilities	840	1,205
Other	815	1,842
Net current deferred tax assets	24,497	24,613
Net non-current deferred tax liability:
Property, plant and equipment	(9,552)	(10,583)
Stock options	6,052	6,898
Other	1,699	708
Net non-current deferred tax liabilities	(1,801)	(2,977)
Net deferred tax asset	$ 22,696	$ 21,636

Other Accrued Liabilities - Sch

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Payroll taxes	$ 3,151	$ 2,639
Property, sales and other taxes	6,258	7,059
Commissions payable	1,424	1,925
Accrued vendor costs	2,185	3,134
Accrued warranties	3,853	4,414
Other	1,245	313
Total	$ 18,116	$ 19,484

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Postemployment Benefits [Abstract]
Employee benefit plans, contribution expense	$ 4.6	$ 5.7	$ 5.9

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended		2 Months Ended	3 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2010USD ($)	Mar. 31, 2010USD ($)	Jan. 31, 2011USD ($)Assessment	Jun. 30, 2015USD ($)	Dec. 31, 2010USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Commitments And Contingencies [Line Items]
Lease expense incurred						$ 5	$ 5.1	$ 4.2
2,017						3.5
2,018						2.4
2,019						1.8
2,020						1.6
2,021						0.8
Thereafter						6.7
Brazil [Member]
Commitments And Contingencies [Line Items]
Tax assessment settled with payments	$ 3.9	$ 12.2
Amount of interest, penalties and monetary restatement fees on tax assessments					$ 7.8
Tax credits certified				$ 8.3
Number of tax assessments | Assessment			2
Value of assessments served on Brazilian subsidiary			$ 13
Court deposit						$ 5.7		$ 3.1
Brazil [Member] | Inflation Related Credits [Member]
Commitments And Contingencies [Line Items]
Tax credits certified				$ 2.3

Geographic Segments - Schedule

Geographic Segments - Schedule of Segment Reporting (Detail) - 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
Segment Reporting Information [Line Items]
Products									$ 433,012	$ 685,364	$ 773,205
Services									105,719	158,946	157,752
Total revenues	$ 106,091	$ 123,640	$ 142,439	$ 166,561	$ 201,630	$ 201,402	$ 215,276	$ 226,002	538,731	844,310	930,957
Depreciation and amortization									31,857	30,477	31,155
Income before income taxes									115,868	249,771	279,380
Total Long-Lived Assets	404,693				303,952				404,693	303,952	322,011
Total Assets	1,461,404				1,428,250				1,461,404	1,428,250	1,449,251
Intercompany [Member]
Segment Reporting Information [Line Items]
Total revenues									46,075	64,352	68,978
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenues									(46,075)	(64,352)	(68,978)
Income before income taxes									1,974	9,768	2,726
Total Long-Lived Assets	(480)				(2,926)				(480)	(2,926)	(2,926)
Total Assets	(2,526)				(13,705)				(2,526)	(13,705)	(12,307)
Western Hemisphere [Member]
Segment Reporting Information [Line Items]
Products									254,359	332,452	430,597
Services									63,350	88,376	74,544
Western Hemisphere [Member] | Intercompany [Member]
Segment Reporting Information [Line Items]
Total revenues									43,856	53,429	55,094
Western Hemisphere [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues									361,565	474,257	560,235
Depreciation and amortization									22,455	20,301	20,851
Income before income taxes									40,280	112,499	143,206
Total Long-Lived Assets	317,875				208,408				317,875	208,408	221,597
Total Assets	775,358				677,460				775,358	677,460	731,448
Eastern Hemisphere [Member]
Segment Reporting Information [Line Items]
Products									106,862	234,853	205,185
Services									34,818	52,963	59,794
Eastern Hemisphere [Member] | Intercompany [Member]
Segment Reporting Information [Line Items]
Total revenues									337	5,799	10,719
Eastern Hemisphere [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues									142,017	293,615	275,698
Depreciation and amortization									4,965	5,685	5,794
Income before income taxes									60,835	89,349	79,146
Total Long-Lived Assets	33,338				43,449				33,338	43,449	45,517
Total Assets	318,529				391,672				318,529	391,672	375,781
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Products									71,791	118,059	137,423
Services									7,551	17,607	23,414
Asia-Pacific [Member] | Intercompany [Member]
Segment Reporting Information [Line Items]
Total revenues									1,882	5,124	3,165
Asia-Pacific [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues									81,224	140,790	164,002
Depreciation and amortization									4,437	4,491	4,510
Income before income taxes									12,779	38,155	54,302
Total Long-Lived Assets	53,960				55,021				53,960	55,021	57,823
Total Assets	$ 370,043				$ 372,823				$ 370,043	$ 372,823	$ 354,329

Geographic Segments - Additiona

Geographic Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016SegmentLocation	Dec. 31, 2015	Dec. 31, 2014
Concentration Risk [Line Items]
Number of geographic segments | Segment	3
Number of headquarter locations | Location	3
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of revenue		10.00%	10.00%
Chevron and Affiliated Companies [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of revenue	16.00%	12.00%	10.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	Nov. 24, 2008shares
Series A Junior Participating Preferred Stock [Member]
Class of Stock [Line Items]
Rights to purchase shares (in shares)	0.01

Stock-Based Compensation and 65

Stock-Based Compensation and Stock Awards - Stock Options - Additional Information (Detail)	May 13, 2004shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised		$ 1,000,000	$ 800,000	$ 2,000,000
Stock-based compensation expense for stock option exercises		0	1,100,000	2,500,000
Capitalized expense		0	0	0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit realized from stock options exercised		$ 357,000	$ 263,000	$ 718,000
Anti-dilutive stock option shares (in shares) | shares		0
Unrecognized compensation expense related to share based compensation		$ 0
2004 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The maximum number of shares authorized (in shares) | shares	2,696,294
Options granted period	10 years
Cumulative annual increments of the total number of shares	0.25
2004 Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

Stock-Based Compensation and 66

Stock-Based Compensation and Stock Awards - Schedule of Option Activity (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Number of Options
Options Outstanding, Beginning Balance (in shares) | shares	415,122
Granted (in shares) | shares	0
Exercised (in shares) | shares	(54,350)
Forfeited (in shares) | shares	(8,813)
Options Outstanding, Ending Balance (in shares) | shares	351,959
Options Exercisable (in shares) | shares	351,959
Weighted Average Price
Weighted Average Price Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 55.64
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	40.61
Forfeited (in dollars per share) | $ / shares	67.71
Weighted Average Price Outstanding, Ending Balance (in dollars per share) | $ / shares	57.66
Weighted Average Price Exercisable (in dollars per share) | $ / shares	$ 57.66
Aggregate intrinsic value (in millions)
Aggregate intrinsic value Outstanding | $	$ 2.5
Aggregate intrinsic value Exercisable | $	$ 2.5
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life Outstanding (in years)	3 years 6 months 1 day
Weighted Average Remaining Contractual Life Exercisable (in years)	3 years 6 months 1 day

Stock-Based Compensation and 67

Stock-Based Compensation and Stock Awards - Restricted Stock Awards - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards compensation expense	$ 7.2	$ 7.2	$ 6.3
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Income tax benefit recognized	$ 1.2	$ 1.8	$ 2.2
Unrecognized compensation expense related to share based compensation	$ 14
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 2 months 1 day
Anti-dilutive restricted shares (in shares)	108,561

Stock-Based Compensation and 68

Stock-Based Compensation and Stock Awards - Summary of RSA Activity (Detail) - Restricted Stock Awards [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
RSA Number of Shares
Nonvested options, Beginning Balance (in shares) | shares	193,596
Granted (in shares) | shares	165,063
Vested (in shares) | shares	(84,513)
Forfeited (in shares) | shares	(4,763)
Nonvested options, Ending Balance (in shares) | shares	269,383
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 77.91
Granted (in dollars per share) | $ / shares	48.45
Vested (in dollars per share) | $ / shares	84.98
Forfeited (in dollars per share) | $ / shares	80.60
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 57.59

Stock-Based Compensation and 69

Stock-Based Compensation and Stock Awards - Performance Unit Awards - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Company$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Unit compensation expense	$ 4,600,000	$ 4,500,000	$ 3,100,000
Performance Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share value based on Monte Carlo simulation (in dollars per share) | $ / shares	$ 53.46	$ 79
Percentage of grant share price (as a percentage)	110.30%	120.20%
Number of components companies in the Philadelphia Oil Service Index | Company	15
Total share return period (in years)	3 years
Income tax benefit recognized	$ 462,000	$ 1,100,000	$ 0
Unrecognized compensation expense related to share based compensation	$ 8,900,000
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 1 month 1 day
Anti-dilutive performance share units (in shares) | shares	64,546
Minimum [Member] | Performance Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participants earning under the term (as a percentage)	0.00%
Maximum [Member] | Performance Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participants earning under the term (as a percentage)	200.00%

Stock-Based Compensation and 70

Stock-Based Compensation and Stock Awards - Schedule of Assumptions Used in Monte Carlo Simulation (Detail) - Performance Unit Awards [Member] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility (as a percentage)	32.50%	29.50%
Risk-free interest rate (as a percentage)	1.01%	0.9795%
Grant date price (in dollars per share)	$ 48.45	$ 65.72

Stock-Based Compensation and 71

Stock-Based Compensation and Stock Awards - Summary of PSA Activity (Detail) - Performance Unit Awards [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Number of shares
Nonvested options, Beginning Balance (in shares) | shares	135,969
Granted (in shares) | shares	87,503
Vested (in shares) | shares	(27,253)
Forfeited (in shares) | shares	0
Nonvested options, Ending Balance (in shares) | shares	196,219
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 106.49
Granted (in dollars per share) | $ / shares	53.46
Vested (in dollars per share) | $ / shares	138.31
Forfeited (in dollars per share) | $ / shares	0
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 78.42

Stock-Based Compensation and 72

Stock-Based Compensation and Stock Awards - Director Stock Compensation Awards - Additional Information (Detail) - DSA [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fees in lieu of cash (as a percentage)	125.00%
Director stock compensation awards expense	$ 405,000	$ 328,000	$ 21,600
Income tax benefit recognized	19,000	$ 41,000	$ 0
Unrecognized compensation expense related to share based compensation	$ 300,000
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	1 year
Anti-dilutive awards (in shares)	2,162

Stock-Based Compensation and 73

Stock-Based Compensation and Stock Awards - Schedule of DSA Activity (Detail) - DSA [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Number of shares
Nonvested options, Beginning Balance (in shares) | shares	6,162
Granted (in shares) | shares	8,174
Vested (in shares) | shares	(914)
Forfeited (in shares) | shares	0
Nonvested options, Ending Balance (in shares) | shares	13,422
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 71.77
Granted (in dollars per share) | $ / shares	58.47
Vested (in dollars per share) | $ / shares	89.39
Forfeited (in dollars per share) | $ / shares	0
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 62.46

Stock-Based Compensation and 74

Stock-Based Compensation and Stock Awards - Schedule of Information for Stock Option Plans (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options (in shares)	351,959
Weighted-average exercise price of outstanding options (in dollars per share)	$ 57.66
Number of securities remaining available for future issuance under equity compensation plan (in shares)	184,773
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	269,383	193,596
Performance Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	196,219	135,969
Equity Compensation Plans Approved By Stockholders [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options (in shares)	351,959
Weighted-average exercise price of outstanding options (in dollars per share)	$ 57.66
Number of securities remaining available for future issuance under equity compensation plan (in shares)	184,773
Equity Compensation Plans Not Approved By Shareholders [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options (in shares)	0
Weighted-average exercise price of outstanding options (in dollars per share)	$ 0
Number of securities remaining available for future issuance under equity compensation plan (in shares)	0
2004 Plan [Member] | Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	282,805
2004 Plan [Member] | Performance Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	196,219

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Detail) - 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
Earnings Per Share [Abstract]
Net income	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ 48,354	$ 50,777	$ 39,213	$ 53,664	$ 93,221	$ 192,008	$ 208,712
Weighted average basic common shares outstanding (in shares)									37,537	38,364	39,964
Effect of dilutive securities-stock options and awards (in shares)									130	167	226
Total shares and dilutive securities (in shares)									37,667	38,531	40,190
Basic earnings per common share (in dollars per share)	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ 1.28	$ 1.32	$ 1.01	$ 1.38	$ 2.48	$ 5	$ 5.22
Diluted earnings per common share (in dollars per share)	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ 1.28	$ 1.32	$ 1.01	$ 1.38	$ 2.47	$ 4.98	$ 5.19

Stock Repurchase Plan - Additio

Stock Repurchase Plan - Additional Information (Detail) - USD ($)	Jul. 26, 2016	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 26, 2015
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)			400,500,000	1,184,700,000	2,023,172,000
Total cost of shares repurchased and cancelled			$ 24,234,000	$ 75,805,000	$ 190,234,000
2015 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)				1,184,700
Total cost of shares repurchased and cancelled				$ 75,800,000
Stock repurchase plan (up to)	$ 100,000,000					$ 100,000,000
Shares repurchased, average cost (in dollars per share)				$ 63.98
2016 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	0	400,500
Total cost of shares repurchased and cancelled		$ 24,200,000
Shares repurchased, average cost (in dollars per share)		$ 60.51

Quarterly Results of Operatio77

Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ 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
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 106,091	$ 123,640	$ 142,439	$ 166,561	$ 201,630	$ 201,402	$ 215,276	$ 226,002	$ 538,731	$ 844,310	$ 930,957
Cost of sales	77,794	77,633	79,881	93,096	108,352	108,132	117,664	125,138	328,404	459,286	513,527
Gross profit	28,297	46,007	62,558	73,465	93,278	93,270	97,612	100,864
Operating income (loss)	(4,634)	22,933	45,217	49,343	60,308	64,255	52,579	71,693	112,859	248,835	278,748
Net income	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ 48,354	$ 50,777	$ 39,213	$ 53,664	$ 93,221	$ 192,008	$ 208,712
Basic (in dollars per share)	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ 1.28	$ 1.32	$ 1.01	$ 1.38	$ 2.48	$ 5	$ 5.22
Diluted (in dollars per share)	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ 1.28	$ 1.32	$ 1.01	$ 1.38	$ 2.47	$ 4.98	$ 5.19

Subsequent Event - Narrative (D

Subsequent Event - Narrative (Details) $ in Millions	Jan. 06, 2017USD ($)
Technology Alliance Inc. | Subsequent Event [Member]
Subsequent Event [Line Items]
Cash purchase price as a result of business acquisition	$ 20

Schedule II - Valuation and Q79

Schedule II - Valuation and Qualifying Accounts - Schedule of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for doubtful trade receivables [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 7,739	$ 6,241	$ 2,364
Charges to costs and expenses	1,259	5,741	4,832
Recoveries and write offs	(3,428)	(4,243)	(955)
Balance at end of period	5,570	7,739	6,241
Allowance for excess and slow moving inventory [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	39,247	34,607	33,216
Charges to costs and expenses	5,748	8,512	3,951
Recoveries and write offs	653	(3,872)	(2,560)
Balance at end of period	$ 45,648	$ 39,247	$ 34,607