Innovex Downhole Solutions (INVX) 10-K 25 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	DRIL-QUIP, INC.
Entity Central Index Key	0001042893
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 1,031,500,000
Entity Common Stock, Shares Outstanding		35,428,778
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	DRQ
Security Exchange Name	NYSE
Entity File Number	001-13439
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2162088
Entity Address, Address Line One	6401 N. Eldridge Parkway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Country	US
Entity Address, Postal Zip Code	77041
City Area Code	713
Local Phone Number	939-7711
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Portions of the Registrant’s Proxy Statement for its 2020 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A are incorporated by reference in Part III of this Form 10-K

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Revenues from products and services	$ 334,411	$ 375,297
Leasing	30,562	39,509	$ 47,160
Total revenues	364,973	414,806	384,626
Cost of sales:
Total cost of sales	269,698	295,007	293,573
Selling, general and administrative	95,057	98,412	102,097
Engineering and product development	18,920	17,329	20,297
Impairments	7,719		38,559
Restructuring and other charges	35,380	4,396	60,043
Gain on sale of assets	(587)	(1,511)	(6,198)
Foreign currency transaction (gains) and losses	2,345	(1,630)	(1,007)
Total costs and expenses	428,532	412,003	507,364
Operating income (loss)	(63,559)	2,803	(122,738)
Interest income	2,131	7,940	8,040
Interest expense	(621)	(314)	(291)
Income (loss) before income taxes	(62,049)	10,429	(114,989)
Income tax provision (benefit)	(31,281)	8,709	(19,294)
Net income (loss)	$ (30,768)	$ 1,720	$ (95,695)
Income (loss) per common share:
Basic (in dollars per share)	$ (0.87)	$ 0.05	$ (2.58)
Diluted (in dollars per share)	$ (0.87)	$ 0.05	$ (2.58)
Weighted average common shares outstanding:
Basic (in shares)	35,260	35,839	37,075
Diluted (in shares)	35,260	36,152	37,075
Products
Revenues:
Revenues from products and services	$ 258,834	$ 303,279	$ 265,052
Cost of sales:
Total cost of sales	200,758	223,502	222,568
Services
Revenues:
Revenues from products and services	75,577	72,018	72,414
Cost of sales:
Total cost of sales	37,449	36,550	37,196
Leasing
Cost of sales:
Total cost of sales	$ 31,491	$ 34,955	$ 33,809

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (30,768)	$ 1,720	$ (95,695)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(6,148)	1,550	(18,823)
Total comprehensive income (loss)	$ (36,916)	$ 3,270	$ (114,518)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 345,955	$ 398,946
Trade receivables, net	116,202	107,626
Unbilled receivables	140,318	140,534
Inventories, net	212,536	205,062
Prepaids and other current assets	48,182	28,321
Total current assets	863,193	880,489
Operating lease right of use assets	6,962	5,144
Property, plant and equipment, net	234,823	258,497
Deferred income taxes	5,768	8,936
Goodwill		7,947
Intangible assets	29,434	32,245
Other assets	10,992	13,307
Total assets	1,151,172	1,206,565
Current liabilities:
Accounts payable	37,424	46,324
Accrued income taxes	4,343	4,561
Contract liabilities	11,339	6,901
Accrued compensation	5,015	13,599
Operating lease liabilities	1,110	1,314
Other accrued liabilities	26,281	24,241
Total current liabilities	85,512	96,940
Deferred income taxes	6,779	4,150
Income tax payable	9,383	8,868
Operating lease liabilities, long-term	5,845	3,801
Other long-term liabilities	2,125	2,105
Total liabilities	109,644	115,864
Contingencies (Note 15)
Stockholders' equity:
Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued)
Common stock:
100,000,000 shares authorized at $0.01 par value, 35,417,712 and 35,859,540 shares issued and outstanding at December 31, 2020 and December 31, 2019	363	371
Additional paid-in capital	65,613	52,870
Retained earnings	1,125,263	1,181,023
Accumulated other comprehensive losses	(149,711)	(143,563)
Total stockholders' equity	1,041,528	1,090,701
Total liabilities and stockholders' equity	$ 1,151,172	$ 1,206,565

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	35,417,712	35,859,540
Common stock, shares outstanding (in shares)	35,417,712	35,859,540

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income (loss)	$ (30,768)	$ 1,720	$ (95,695)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	32,389	34,020	35,312
Release of contingent consideration		(2,001)
Stock-based compensation expense	12,914	15,721	13,459
Impairments	7,719		38,559
Restructuring and other charges	35,380	174	60,043
Gain on sale of property, plant and equipment	(587)	(1,511)	(6,198)
Deferred income taxes	4,950	598	(4,091)
Changes in operating assets and liabilities:
Trade receivables, net	(9,522)	10,783	17,988
Unbilled receivables	216	(57,032)	(29,843)
Inventories, net	(28,290)	(14,054)	49,926
Prepaids and other assets	(24,930)	10,980	(15,084)
Accounts payable and accrued expenses	(20,387)	15,343	(18,755)
Other, net	(172)	(63)	(118)
Net cash provided by (used in) operating activities	(21,088)	14,678	45,503
Investing activities
Purchase of property, plant and equipment	(11,943)	(11,501)	(32,061)
Proceeds from sale of equipment	6,315	3,030	16,888
Net cash used in investing activities	(5,628)	(8,471)	(15,173)
Financing activities
Proceeds from exercise of stock options		2,181	1,616
ABL Credit Facility issuance costs			(815)
Repurchase of common shares	(25,000)	(26,570)	(100,000)
Other	(183)	(183)
Net cash used in financing activities	(25,183)	(24,572)	(99,199)
Effect of exchange rate changes on cash activities	(1,092)	(789)	(6,211)
Decrease in cash and cash equivalents	(52,991)	(19,154)	(75,080)
Cash and cash equivalents at beginning of year	398,946	418,100	493,180
Cash and cash equivalents at end of year	$ 345,955	$ 398,946	$ 418,100

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, AdjustmentRevision of Prior Period, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, AdjustmentRevision of Prior Period, Adjustment	Accumulated Other Comprehensive Losses
Beginning Balance at Dec. 31, 2017	$ 1,294,461		$ 372	$ 20,083	$ 1,400,296		$ (126,290)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(18,823)						(18,823)
Net income (loss)	(95,695)				(95,695)
Comprehensive income (loss)	(114,518)
Repurchase of common stock	(100,000)		(20)		(99,980)
Options exercised and awards vested	1,616		25	1,591
Stock option expense	13,459			13,459
Other	(539)		(1)	(180)	(358)
Ending Balance at Dec. 31, 2018	1,096,162	$ 1,683	376	34,953	1,205,946	$ 1,683	(145,113)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	1,550						1,550
Net income (loss)	1,720				1,720
Comprehensive income (loss)	3,270
Repurchase of common stock	(26,570)		(6)		(26,564)
Options exercised and awards vested	2,181			2,181
Stock option expense	15,721			15,721
Other	(63)		1	15	(79)
Ending Balance at Dec. 31, 2019	1,090,701		371	52,870	1,181,023		(143,563)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(6,148)						(6,148)
Net income (loss)	(30,768)				(30,768)
Comprehensive income (loss)	(36,916)
Repurchase of common stock	(25,000)		(8)		(24,992)
Shares withheld for payment of employee payroll taxes	(171)			(171)
Stock option expense	12,914			12,914
Ending Balance at Dec. 31, 2020	$ 1,041,528		$ 363	$ 65,613	$ 1,125,263		$ (149,711)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Options exercised and awards vested (in shares)		478,246	261,055
Treasury stock shares (in shares)	808,389	615,940	1,991,206

Organization

Organization	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Dril-Quip, Inc., a Delaware corporation (the “Company” or “Dril-Quip”), designs, manufactures, sells and services highly engineered drilling and production equipment that is well suited primarily 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, 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 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 manufacturing facilities in all three of its regional headquarter locations, as well as in Macae, Brazil. The Company’s major subsidiaries are Dril-Quip (Europe) Limited, located in Aberdeen with branches in Azerbaijan, Denmark, Norway and Holland; Dril-Quip Asia-Pacific PTE Ltd., located in Singapore; and Dril-Quip do Brasil LTDA, located in Macae, Brazil. Other operating subsidiaries include TIW Corporation (TIW) and Honing, Inc., both located in Houston, Texas; DQ Holdings Pty. Ltd., located in Perth, Australia; Dril-Quip Cross (Ghana) Ltd., located in Takoradi, Ghana; PT DQ Oilfield Services Indonesia, located in Jakarta, Indonesia; Dril-Quip Egypt for Petroleum Services S.A.E., located in Alexandria, Egypt; Dril-Quip TIW Saudi Arabia Limited, located in Dammam, Kingdom of Saudi Arabia; Dril-Quip Oilfield Services (Tianjin) Co. Ltd., located in Tianjin, China, with branches in Shenzhen and Beijing, China; Dril-Quip Qatar LLC, located in Doha, Qatar; Dril-Quip TIW Mexico S. de R.L.C.V., located in Villahermosa, Mexico; Dril-Quip Venezuela S.C.A., located in Anaco, Venezuela and with a registered branch located in Ecuador; TIW (UK) Limited, located in Aberdeen, Scotland; and TIW International LLC, with a registered branch located in Singapore. 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, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	2. 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. Certain prior year amounts have been reclassified to conform to the current year presentation on the Consolidated Statements of Income (Loss), Consolidated Balance Sheets and the Consolidated Statements of Cash Flows. Reclassifications We reclassified approximately $1.6 million and $1.0 million of foreign currency transaction gains for the years ended December 31, 2019 and 2018, respectively, from selling, general and administrative to foreign currency transaction (gains) and losses. These reclassifications did not have an impact on our Consolidated Statements of Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income (Loss), Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Cash Flows . 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 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. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect COVID-19 as a global pandemic may have, and, as a result, the ultimate impact of COVID-19 and the extent to which COVID-19 continues to impact the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition and slow moving and excess inventories. 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. The allowance estimate includes expected recoveries of amounts previously written off and expected to be written off in the valuation account. 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 net realizable value. 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. Inventory Reserves Periodically, obsolescence reviews are performed on slow moving and excess inventories and reserves are established based on current assessments about future demands and market conditions. The Company determines the reserve percentages based on an analysis of stocking levels, historical sales levels and future sales forecasts anticipated for inventory items by product type. The inventory values have been reduced by a reserve for slow moving and excess inventories of $82.1 million and $71.0 million as of December 31, 2020 and 2019, respectively. If market conditions are less favorable than those projected by management, additional inventory reserves may be required. 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. We capitalize costs incurred to enhance, improve and extend the useful lives of our property and equipment and expense costs incurred to repair and maintain the existing condition of our assets. Goodwill and intangible assets For goodwill and intangible assets, an assessment for impairment is performed annually or when there is an indication an impairment may have occurred. Goodwill is not amortized but rather tested for impairment annually on October 1 or when events occur or circumstances change that would trigger such a review. The impairment test entails an assessment of qualitative factors to determine whether it is more likely than not that an impairment exists. If it is more likely than not that an impairment exists, then a quantitative impairment test is performed. Impairment exists when the carrying amount of a reporting unit exceeds its fair value. We complete our annual impairment test for goodwill and other intangibles using an assessment date of October 1. An interim goodwill impairment analysis was performed in connection with the preparation and review of financial statements during the first quarter of 2020. Based on this analysis, we fully impaired our goodwill balance of $7.7 million, all of which was in the Eastern Hemisphere reporting unit. Goodwill is reviewed for impairment by comparing the carrying value of each of our reporting unit’s net assets, including allocated goodwill, to the estimated fair value of the reporting unit. We determine the fair value of our reporting units using a discounted cash flow approach. We selected this valuation approach because we believe it, combined with our best judgment regarding underlying assumptions and estimates, provides the best estimate of fair value for each of our reporting units. Determining the fair value of a reporting unit requires the use of estimates and assumptions. Such estimates and assumptions include revenue growth rates, future operating margins, the weighted average cost of capital ("discount rates"), a terminal growth value and future market conditions, among others. We believe that the estimates and assumptions used in our impairment assessments are reasonable. If the reporting unit’s carrying value is greater than its calculated fair value, we recognize a goodwill impairment charge for the amount by which the carrying value of goodwill exceeds its fair value. In 2019, we performed an analysis of our goodwill and as a result of our qualitative assessment no impairment was recorded. For the year ended December 31, 2018, we recorded an impairment charge of $38.6 million. For further information, see Note 8, “Goodwill.” 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. We review the recoverability of the carrying value of our assets based upon estimated future cash flows while taking into consideration assumptions and estimates, including the future use of the asset, remaining useful life of the asset and service potential of the asset. Additionally, inventories are valued at the lower of cost or net realizable value. Restructuring and other charges During 2020, the overall offshore market conditions declined as a result of the COVID-19 pandemic and developments in global oil markets and decreases in our customers’ capital budgets. As such, we incurred additional costs under our existing 2018 global strategic plan to realign our manufacturing facilities globally. We incurred restructuring and other charges of $35.4 million related to non-cash inventory write-downs, severance, long-lived asset write-downs and other charges of approximately $17.3 million, $8.4 million, $8.3 million, and $1.4 million, respectively, for the year ended December 31, 2020. Other charges consisted primarily of professional fees related to the global strategic plan. During 2019, we incurred approximately $4.4 million of expenses primarily associated with professional fees related to our strategic restructuring and approximately $1.1 million in severance payout to our former Chief Operating Officer, pursuant to a separation agreement entered into with him during the first quarter of 2019. There were no costs incurred for employee termination benefits during the year ended December 31, 2019. As a result of unfavorable market conditions, combined with the impact of decreased capital expenditure budgets within the industry driven by sustained low oil prices, we announced a cost reduction plan primarily focused on workforce reductions and the reorganization of certain facilities in the second quarter of 2018. During 2018, we incurred non-cash inventory, long-lived asset write-downs and employee termination benefits of approximately $32.1 million, $14.9 million and $7.3 million, respectively, as a result of expected changes in our business structure and where specific products are manufactured. Additionally, in 2018, there were other charges incurred of approximately $5.7 million related to professional fees for consulting services for the strategic planning and implementation efforts. These charges are reflected as "Restructuring and other charges" in our Consolidated Statements of Income (Loss). 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. Valuation allowances are established when necessary to reduce deferred income tax assets to the amounts that are expected more likely than not to be realized in the future. 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 are recognized over time as control is transferred to the customer; and • product revenues from the sale of products that do not qualify for the over time method are recognized as point in time. Revenues recognized under the over time method The Company uses the over time 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; • product requirements cannot be filled directly from the Company’s standard inventory; and • The Company has an enforceable right to payment for any work completed to date and the enforceable payment includes a reasonable profit margin. 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 to be recognized. 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 over time 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 unbilled receivables. Unbilled revenues are expected to be billed and collected within one year. At December 31, 2020 and 2019, unbilled receivables included $96.5 million and $83.2 million of unbilled receivables related to products accounted for using over time method of accounting, respectively. For the year ended December 31, 2020, there were 57 projects representing approximately 33.2% of the Company’s total revenues and approximately 46.9% of its product revenues, and 36 projects during 2019 representing approximately 20.5% of the Company’s total revenues and approximately 28.0% of its product revenues, which were accounted for using over time method of accounting. Revenues recognized under the point in time method Revenues from the sale of standard inventory products, not accounted for under the over time method, are recorded at the point in time that the customer obtains control of the promised asset and the Company satisfies its performance obligation. This point in time recognition aligns with when the product is available to the customer, which is when the Company typically has a present right to payment, title transfers to the customer, the customer or its carrier has physical possession and the customer has significant risks and rewards of ownership. The Company may provide product storage to some customers. Revenues for these products are recognized at the point in time that control of the product transfers to the customer, the reason for storage is requested by the customer, the product is separately identified, the product is ready for physical transfer to the customer and the Company does not have the ability to use or direct the use of the product. This point in time typically occurs when the products are moved to storage. We receive payment after control of the products has transferred to the customer. Service revenues The Company recognizes service revenues from two sources: • technical advisory assistance; and • rework and reconditioning of customer-owned Dril-Quip products. The Company generally does not install products for its customers, but it does provide technical advisory assistance. The Company normally negotiates contracts for products, including those accounted for under the over time 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. The contracts for these services are typically considered day-to-day. Rework and reconditioning service revenues are recorded using the over time method based on the remaining steps that need to be completed as the refurbishment process is performed. The measurement of progress considers, among other things, the time necessary for completion of each step in the reconditioning plan, the materials to be purchased, labor and ordering procedures. We receive payment after the services have been performed by billing customers periodically (typically monthly). Leasing revenues The Company earns leasing revenues from the rental of running tools and rental of its forging facility. Revenues from rental of running tools are recognized within leasing revenues on a day rate basis over the lease term, which is generally between one to three months. Rental revenue from the forging facility is recognized on a straight-line basis over the expected life of the lease. Leasing revenues from rental of running tools during years ended December 31, 2020 and 2019 were $28.5 million and $39.0 million, respectively. Leasing revenues from rental of facilities were $2.1 million and $0.5 million, respectively, for the same period. Practical Expedients As permitted under Accounting Standards Update (ASU) 2016-02 “Leases (Topic 842),” we elected the package of practical expedients permitted under the transition guidance which, among other things, allows companies to carry forward their historical lease classification. 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 had, net of income taxes, a transaction loss of $1.9 million in 2020, a transaction gain of $1.3 million in 2019 and a transaction gain of $0.8 million in 2018. 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 is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is 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, 2020
Accounting Changes And Error Corrections [Abstract]
New Accounting Standards	3. In June 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04 “Reference Rate Reform (Topic 848).” Topic 848 is effective for fiscal years and interim periods beginning as of March 12, 2020 through December 31, 2022. This update provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. It is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The adoption of ASU 2020-04 did not have a material impact on our financial position, results of operations or cash flows. In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12 “Income Taxes (Topic 740).” Topic 740 is effective for fiscal years and interim periods beginning after December 15, 2020. This update simplifies the accounting for income taxes by removing certain exceptions such as the exception to the incremental approach for intraperiod tax allocation, the exception to the requirement to recognize a deferred tax liability for equity method investments, the exception to the ability not to recognize a deferred tax liability for a foreign subsidiary and the exception to the general methodology for calculating income taxes in an interim period. The adoption of ASU 2019-12 will not have a material impact on our financial position, results of operations or cash flows. In November 2019, the FASB issued Accounting Standards Update (ASU) 2019-10 “Financial Instruments – Credit Losses (Topic 326).” Topic 326 is effective for fiscal years and interim periods beginning after December 15, 2019. This update also amends the mandatory effective date for the elimination of Step 2 from the goodwill impairment test (Accounting Standards Update No. 2017-.04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. These amendments align the mandatory effective dates for goodwill with those for Credit Losses. The adoption of ASU 2019-10 did not have a material impact on our financial position, results of operations or cash flows. In April 2019, the FASB issued ASU 2019-04 “Codification Improvements to Financial Instruments – Credit Losses (Topic 326).” The new standard clarifies certain aspects of accounting for credit losses, hedging activities and financial instruments (addressed by ASUs 2016-13, 2017-12, and 2016-01, respectively). The standard is effective for fiscal periods beginning after December 15, 2019, including interim periods within those fiscal years. We early adopted as of October 1, 2019, and the result of adoption did not have a material impact on our financial position, results of operations or cash flows.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	4. Revenues from contracts with customers (excludes leasing) consisted of the following: Twelve Months Ended December 31, 2020 Western Hemisphere Eastern Hemisphere Asia- Pacific Total (In thousands) Product Revenues $ 151,351 $ 56,038 $ 51,445 $ 258,834 Service Revenues $ 45,536 $ 14,332 $ 15,709 $ 75,577 Total $ 196,887 $ 70,370 $ 67,154 $ 334,411 Twelve Months Ended December 31, 2019 Western Hemisphere Eastern Hemisphere Asia- Pacific Total (In thousands) Product Revenues $ 162,067 $ 86,057 $ 55,155 $ 303,279 Service Revenues 42,694 18,509 10,815 72,018 Total $ 204,761 $ 104,566 $ 65,970 $ 375,297 Contract Balances Balances related to contracts with customers consisted of the following: Contract Assets (amounts shown in thousands) Contract Assets at December 31, 2019 $ 136,332 Additions 111,828 Transfers to Accounts Receivable (112,187 ) Contract Assets at December 31, 2020 $ 135,973 Contract Liabilities (amounts shown in thousands) Contract Liabilities at December 31, 2019 $ 6,901 Additions 16,393 Revenue Recognized (12,479 ) Contract Liabilities at December 31, 2020 $ 10,815 Contract asset receivables were $136.0 million and $136.3 million for the years ended December 31, 2020 and 2019, respectively. Contract assets include unbilled accounts receivable associated with contracts accounted for under the over time accounting method which were approximately $96.5 million and $83.2 million at December 31, 2020 and 2019, respectively. Unbilled contract assets are transferred to the trade receivables, net, when the rights become unconditional. The contract liabilities primarily relate to advance payments from customers. Obligations for returns and refunds were considered immaterial as of December 31, 2020. Remaining Performance Obligations The aggregate amount of the transaction price allocated to remaining performance obligations from our over time product lines was $58.1 million as of December 31, 2020. The Company expects to recognize revenue on approximately 70.4% of the remaining performance obligations over the next 12 months and the remaining 29.6% The Company applies the practical expedient available under the new revenue standard and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories, net	5. Inventories consist of the following: December 31, 2020 2019 (In thousands) Raw materials and supplies $ 32,833 $ 46,282 Work in progress 44,924 54,171 Finished goods 216,928 175,629 294,685 276,082 Less: allowance for slow moving and excess inventory (82,149 ) (71,020 ) Total inventory $ 212,536 $ 205,062

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, net	6. Property, plant and equipment consists of: Estimated Useful December 31, Lives 2020 2019 (In thousands) Land improvements 10-25 years $ 7,379 $ 7,790 Buildings 15-40 years 206,732 213,705 Machinery, equipment and other 3-10 years 390,803 382,837 604,914 604,332 Less accumulated depreciation (399,095 ) (371,365 ) 205,819 232,967 Land 12,408 12,550 Construction work in process 16,596 12,980 Total property, plant and equipment $ 234,823 $ 258,497 Depreciation expense totaled $28.7 million, $31.0 million and $32.8 million for 2020, 2019 and 2018, respectively.

Restructuring and Other Charges

Restructuring and Other Charges	12 Months Ended
	Dec. 31, 2020
Restructuring And Related Activities [Abstract]
Restructuring and Other Charges	7. As a result of unfavorable market conditions primarily due to the COVID-19 pandemic and developments in global oil markets, which triggered historically low crude oil prices and decreases in our customers’ capital budgets, we incurred additional costs under our 2018 global strategic plan primarily focused on workforce reductions and the reorganization of certain facilities during the first quarter of 2020. These charges are reflected as "Restructuring and other charges" in our Consolidated Statements of Income (Loss). The following table summarizes the components of charges included in "Restructuring and other charges" in our Consolidated Statements of Income (Loss) for the year ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Inventory write-down $ 17,272 $ - $ 32,070 Severance 8,462 1,125 7,324 Long-lived asset write-down 8,269 - 14,902 Exit costs - - 447 Other 1,377 3,271 5,300 $ 35,380 $ 4,396 $ 60,043 The following table summarizes the changes to our accrued liability balance related to restructuring and other charges as of December 30, 2020 (in thousands): December 31, 2020 Balance at January 1, 2020 $ - Additions for costs expensed 8,462 Reductions for payments (7,316 ) Ending balance at December 31, 2020 $ 1,146

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	8. The Carrying Value January 1, 2020 Foreign Currency Translation Impairments Carrying Value December 31, 2020 (In thousands) Western Hemisphere $ - $ - $ - $ - Eastern Hemisphere 7,947 (247 ) (7,700 ) - Asia-Pacific - - - - Total $ 7,947 $ (247 ) $ (7,700 ) $ - Carrying Value January 1, 2019 Foreign Currency Translation Impairments Carrying Value December 31, 2019 (In thousands) Western Hemisphere $ - $ - $ - $ - Eastern Hemisphere 7,714 233 - 7,947 Asia-Pacific - - - - Total $ 7,714 $ 233 $ - $ 7,947 In March 2020, the overall offshore market conditions declined primarily due to the outbreak of the COVID-19 pandemic and the developments in the global oil markets. This decline was evidenced by lower commodity prices, decline in expected offshore rig counts, decrease in our customers’ capital budgets and potential contract delays. As a result, an interim goodwill impairment analysis was performed in connection with the preparation and review of financial statements during the first quarter of 2020. Based on this analysis, we fully impaired our goodwill balance of $7.7 million, all of which was in the Eastern Hemisphere reporting unit. These charges are reflected as "Impairments" in our Consolidated Statements of Income (Loss). The fair values were determined using the net present value of the expected future cash flows for each reporting unit. During the Company’s goodwill impairment analysis, the Company determined the fair value of its Eastern Hemisphere reporting unit as a whole using discounted cash flow analysis, which requires significant assumptions and estimates about the future operations of the reporting unit. The assumptions about future cash flows and growth rates are based on our strategic budget for 2020 and for future periods, and management’s beliefs about future activity levels. The discount rate we used for future periods could change substantially if the cost of debt or equity were to significantly increase or decrease, or if we were to choose different comparable companies in determining the appropriate discount rate for our reporting unit. Forecasted cash flows in future periods were estimated using a terminal value calculation, which considered long-term earnings growth rates. No goodwill impairment losses were recorded for the year ended December 31, 2019. In December 2018, the overall offshore market conditions declined. This decline was evidenced by lower commodity prices, decline in expected offshore rig counts, decrease in our customers’ capital budgets and potential delays associated with certain of our long-term projects. Further, in December 2018 due to the decline in our stock price, our market capitalization dropped below the carrying value of our assets. As a result, an interim goodwill impairment analysis was performed in connection with our preparation and review of financial statements for the year ended December 31, 2018. Based on this analysis, we recorded an impairment loss of $38.6 million for our Western Hemisphere reporting unit for the year ended December 31, 2018. Following this impairment charge, the Western Hemisphere reporting unit had no remaining goodwill balance. Based on our 2019 goodwill impairment analysis the fair value of the Eastern Hemisphere reporting unit exceeded its carrying value by 71%.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	9. Intangible assets, the majority of which were acquired in the acquisition of TIW and OPT, consist of the following: Estimated Useful Lives 2020 Gross Book Value Accumulated Amortization Foreign Currency Translation Net Book Value (In thousands) Trademarks 15 years $ 8,238 $ (1,033 ) $ (5 ) $ 7,200 Patents 15 - 30 years 6,054 (2,715 ) (2 ) 3,337 Customer relationships 5 - 15 years 25,966 (7,304 ) 65 18,727 Non-compete agreements 3 years 171 (171 ) - - Organizational Costs indefinite 179 (15 ) 6 170 $ 40,608 $ (11,238 ) $ 64 $ 29,434 Estimated Useful Lives 2019 Gross Book Value Accumulated Amortization Foreign Currency Translation Net Book Value (In thousands) Trademarks 15 years $ 8,159 $ (512 ) $ 47 $ 7,694 Patents 15 - 30 years 5,945 (2,529 ) - 3,416 Customer relationships 5 - 15 years 25,787 (4,954 ) 122 20,955 Non-compete agreements 3 years 171 (170 ) - 1 Organizational costs indefinite 172 - 7 179 $ 40,234 $ (8,165 ) $ 176 $ 32,245 Amortization expense was $3.0 million, $2.9 million, $2.4 million, respectively for each of the years 2020, 2019 and 2018. Based on the carrying value of intangible assets at December 31, 2020, amortization expense for the subsequent five years is estimated to be as follows: 2021 — $3.1 million; 2022 — $2.8 million; 2023 — $2.8 million ; 2024 — $2.8 million; and 2025 — $2.8 million.

Leases and Lease Commitments

Leases and Lease Commitments	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases and Lease Commitments	10. Leases and Lease Commitments Effective January 1, 2019, we adopted ASU 2016-02, “Leases (Topic 842),” and elected the package of practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. We adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component. The impact of the adoption of ASC 842, as of January 1, 2019, was approximately $5.5 million to our assets, approximately $1.6 million to our current liability and approximately $3.9 million to our long-term liability. Under the transition method selected by the Company, leases expiring at, or entered into after, January 1, 2019 were required to be recognized and measured. Prior period amounts have not been adjusted and continue to be reflected in accordance with the Company's historical accounting under ASC 840. The adoption of this standard resulted in the recording of operating lease assets and operating lease liabilities as of January 1, 2019, with no related impact on the Company’s Consolidated Statements We lease facilities related to sales and service, manufacturing, reconditioning, certain office spaces, apartments and warehouse, all of which we classify as operating leases. In addition, we also lease certain office equipment and vehicles, which we classify as financing leases. Leases with an initial term of 12 months or less are not recorded on the Company’s Consolidated Balance Sheets; short-term lease expense for the twelve months ended December 31, 2020 was approximately $2.2 million. Most leases include one or more options to renew, with renewal terms that can extend the lease term on a monthly, annual or longer basis. The exercise of lease renewal options is at the Company’s sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements Certain lease agreements include rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. December 31, 2020 December 31, 2019 Classification (In thousands) (In thousands) Assets Operating Operating lease right of use assets $ 6,962 $ 5,144 Finance Other assets 228 437 Total lease assets $ 7,190 $ 5,581 Liabilities Current Operating Operating lease liabilities $ 1,110 $ 1,314 Finance Other accrued liabilities 141 228 Noncurrent Operating Operating lease liabilities, long-term 5,845 3,801 Finance Other long-term liabilities 93 224 Total lease liabilities $ 7,189 $ 5,567 As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is based on our rate for the ABL Credit Facility (as defined herein). Our lease costs are as follows: Twelve Months Ended December 31, 2020 December 31, 2019 (In thousands) (In thousands) Classification Operating lease cost Selling, general and administrative $ 1,617 $ 1,713 Short-term lease costs Selling, general and administrative 2,173 2,104 Amortization of leased assets Selling, general and administrative 186 361 Interest on lease liabilities Net interest expense 14 25 Total lease cost $ 3,990 $ 4,203 The Company leases certain offices, shop and warehouse facilities, automobiles and equipment. Total lease expense incurred was $3.8 million, $3.8 million, and $5.4 million in 2020, 2019 and 2018, respectively. Twelve months ended December 31, 2020 Operating Finance Leases Leases Total (In thousands) 2021 $ 1,376 $ 149 $ 1,525 2022 1,125 54 1,179 2023 870 26 896 2024 625 20 645 2025 602 - 602 After 2025 4,654 - 4,654 Total lease payments 9,252 249 9,501 Less: interest 2,297 15 2,312 Present value of lease liabilities $ 6,955 $ 234 $ 7,189 The lease term and discount rate for our operating and finance leases is as follows: December 31, 2020 Weighted average remaining lease term (years) Operating leases 11.7 Finance leases 2.3 Weighted average discount rate Operating leases 5.1 % Finance leases 4.5 % We had no material non-cash financing or operating leases entered into during the twelve months ended December 31, 2020. Other information pertaining to our lease obligations is as follows: December 31, 2020 December 31, 2019 (In thousands) (In thousands) Other Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,615 $ 1,737 Operating cash flows from finance leases 16 28 Financing cash flows from finance leases 183 183

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	11. Income (loss) before income taxes consisted of the following: Year Ended December 31, 2020 2019 2018 (In thousands) Domestic $ (76,056 ) $ (51,041 ) $ (120,784 ) Foreign 14,007 61,470 5,795 Total $ (62,049 ) $ 10,429 $ (114,989 ) The income tax provision (benefit) consists of the following: Year Ended December 31, 2020 2019 2018 (In thousands) Current: Federal $ (44,752 ) $ (569 ) $ (24,366 ) Foreign 8,454 8,513 9,163 Total current (36,298 ) 7,944 (15,203 ) Deferred: Federal - - - Foreign 5,017 765 (4,091 ) Total deferred 5,017 765 (4,091 ) Total $ (31,281 ) $ 8,709 $ (19,294 ) 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, 2020 2019 2018 Federal income tax statutory rate 21.00 % 21.00 % 21.00 % CARES ACT NOL rate differential (2019 and 2020) 32.60 - - Accrual for undistributed earnings (5.15 ) - - Foreign income tax rate differential (1.03 ) 16.20 (0.94 ) Foreign development tax incentive (0.38 ) (0.91 ) 0.24 Nondeductible goodwill impairment (2.42 ) - (5.21 ) Exempt income 1.25 (24.02 ) 2.32 Foreign taxes and inclusions (net of FTC) (9.26 ) 21.00 (1.83 ) Transition tax (net of FTC) - - 5.80 Nondeductible expenses (5.35 ) 15.51 (1.03 ) Manufacturing benefit (7.32 ) - (1.18 ) Change in valuation allowance 28.26 24.96 (1.99 ) Changes to PY Accruals (3.15 ) 6.28 (1.17 ) Deferred tax rate change (0.10 ) (0.36 ) 0.66 Change in Uncertain tax positions (0.83 ) 4.31 (0.78 ) Interest on net equity - - 1.02 General business credits 2.32 (11.14 ) 0.59 Branch income (0.31 ) 9.64 (0.66 ) Other 0.28 1.03 (0.06 ) Effective tax rate 50.41 % 83.50 % 16.78 % 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. Significant components of the Company’s net deferred tax assets (liabilities) are as follows: As of December 31, 2020 2019 (In thousands) Deferred tax assets: Foreign tax credit carryforward $ 6,549 $ 4,817 Inventory 13,536 17,777 Net operating losses 1,250 18,991 Allowance for doubtful accounts 490 358 Reserve for accrued liabilities 4,029 2,732 Stock options 1,670 2,782 Unrealized gain/loss 1,554 1,862 Disallowed interest carryforward 1,912 - Other 1,939 867 Total deferred tax assets 32,929 50,186 Valuation allowance (17,049 ) (34,464 ) Deferred tax liabilities: Property, plant and equipment (6,048 ) (5,757 ) Goodwill & Intangibles (1,903 ) (2,092 ) Deferred revenue (3,415 ) (1,830 ) Reserve for unremitted earnings (3,608 ) - Other (1,917 ) (1,257 ) Total deferred tax liability (16,891 ) (10,936 ) Net deferred tax asset $ (1,011 ) $ 4,786 Tax operating loss carryforwards totaled $5.2 million (gross) at December 31, 2020. These operating losses will expire as shown in the table below. Tax operating losses Expiration (in thousands) $ 1,466 2021-2026 29 2027-2033 1,899 2034-2039 1,827 Indefinite $ 5,221 In assessing the realizability of our deferred tax assets, the Company has assessed whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. In making this determination, the Company considered taxable income in prior years, if carryback is permitted, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies. The Company has a three-year cumulative loss at December 31, 2020 in the United States and certain foreign jurisdictions and has recorded a valuation allowance at December 31, 2020 of $17.0 million against deferred tax assets in those jurisdictions. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020 and includes tax relief provisions and incentives for businesses impacted by COVID-19. The CARES Act includes provisions relating to net operating loss carryback periods which have increased the effective tax rate by 72.0% as reflected through release in valuation allowances, rate differentials and the manufacturing deductions. The Company has $22.0 million in outstanding NOL carryback claims as of December 31, 2020 including the estimated carryback claim relating to the 2020 tax year, which is reflected in Prepaids and other current assets on the consolidated balance sheet. U.S. Tax Reform in 2017 eliminated the deferral of U.S. income tax on the historical unrepatriated earnings by imposing a one-time mandatory deemed repatriation tax on undistributed earnings. We have historically considered the majority of undistributed earnings of our foreign subsidiaries and equity investees to be indefinitely reinvested, and, accordingly, no deferred taxes had been provided on the indefinitely reinvested earnings. As of June 30, 2020, the Company reversed its indefinite reinvestment assertion. During 2020, we recorded a deferred foreign tax liability of $3.6 million, which is primarily related to estimated foreign withholding tax associated with repatriating all non-U.S. earnings back to the United States. U . S . Tax Reform subjects a U . S . shareholder to tax on Global Intangible Low-Taxed Income (GILTI). We have elected to account for GILTI in the year that the tax is incurred as a period expense. 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 $18.7 million at December 31, 2020 due to uncertainty in tax positions taken in the U.S. and certain foreign tax jurisdictions. The tax years which remain subject to examination by major tax jurisdictions are the years ended December 31, 2015 through December 31, 2020. A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions is as follows: 2020 2019 2018 (In thousands) Balance at beginning of year $ 18,665 $ 18,648 $ 18,323 Additions for tax positions related to the current year 3 - - Reductions for tax positions related to the prior year (3 ) 17 325 Balance at end of year $ 18,665 $ 18,665 $ 18,648 The amounts above exclude accrued interest and penalties of $2.1 million, $1.6 million and $1.1 million at December 31, 2020, 2019 and 2018 respectively. The Company classifies interest and penalties relating to uncertain tax positions within Tax expense(benefit) in the Consolidated Statements of Income (Loss) . It is reasonably possible that the Company's existing liabilities for unrecognized tax benefits may increase or decrease in the year ending December 31, 2019, 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, 2020, if recognized, $7.3 million of the Company's unrecognized tax benefits would favorably impact the effective tax rate. The Company received a net income tax refund of $18.2 million in 2020 and received a net income tax refund of $10.9 million and paid $3.8 million in income taxes in 2019 and 2018, respectively.

Other Accrued Liabilities

Other Accrued Liabilities	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Other Accrued Liabilities	12. Current other accrued liabilities consist of the following: December 31, 2020 2019 (In thousands) Accrued vendor costs $ 10,610 $ 10,289 Property, sales and other taxes 6,014 7,243 Commissions payable 1,065 2,426 Payroll taxes 4,760 2,159 Severance 1,147 - Other 2,685 2,124 Total $ 26,281 $ 24,241

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Postemployment Benefits [Abstract]
Employee Benefit Plans	13. The Company sponsors a defined-contribution (cash balance) 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. Due to cost containment measures put in place in response to COVID-19, the Company suspended the employer match for U.S. employees starting July 1, 2020 through the end of the calendar year with the expectation that the match will resume when market conditions recover. The Company’s contribution expense under these plans was $2.5 million, $4.1 million and $4.1 million in 2020, 2019 and 2018, respectively.

Asset Backed Loan (ABL) Credit

Asset Backed Loan (ABL) Credit Facility	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Asset Backed Loan (ABL) Credit Facility	14. On February 23, 2018, the Company, as borrower, and the Company’s subsidiaries TIW and Honing, Inc., as guarantors, entered into a five -year All obligations under the ABL Credit Facility are fully and unconditionally guaranteed jointly and severally by the Company, TIW, Honing, Inc., and future significant domestic subsidiaries, subject to customary exceptions. Borrowings under the ABL Credit Facility are secured by liens on substantially all of the Company’s personal property, and bear interest at the Company’s option at either (i) the CB Floating Rate (as defined therein), calculated as the rate of interest publicly announced by JPMorgan Chase Bank, N.A., as its “prime rate,” subject to each increase or decrease in such prime rate effective as of the date such change occurs, with such CB Floating Rate not being less than Adjusted One Month LIBOR (as defined therein) or (ii) the Adjusted LIBOR (as defined therein), plus, in each case, an applicable margin. The applicable margin ranges from 1.00% to 1.50% per annum for CBFR loans and 2.00% to 2.50% per annum for Eurodollar loans and, in each case, is based on the Company’s leverage ratio. The unused portion of the ABL Credit Facility is subject to a commitment fee that varies from 0.250% to 0.375% per annum, according to average unused commitments under the ABL Credit Facility. Interest on Eurodollar loans is payable at the end of the selected interest period, but no less frequently than quarterly. Interest on CB Floating Rate loans is payable monthly in arrears. The ABL Credit Facility contains various covenants and restrictive provisions that limit the Company’s ability to, among other things, (1) enter into asset sales; (2) incur additional indebtedness; (3) make investments or loans and create liens; (4) pay certain dividends or make other distributions and (5) engage in transactions with affiliates. The ABL Credit Facility also requires the Company to maintain a fixed charge coverage ratio of 1.1 to 1.0, based on the ratio of EBITDA (as defined therein) to Fixed Charges (as defined therein) during certain periods, including when availability under the ABL Credit Facility is under certain levels. If the Company fails to perform its obligations under the agreement that results in an event of default, the commitments under the ABL Credit Facility could be terminated and any outstanding borrowings under the ABL Credit Facility may be declared immediately due and payable. The ABL Credit Facility also contains cross default provisions that apply to the Company’s other indebtedness. The Company is in compliance with the related covenants as of December 31, 2020. As of December 31, 2020, the availability under the ABL Credit Facility was $40.2 million, after taking into account the outstanding letters of credit of approximately $1.0 million issued under the facility.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Brazilian Tax Issue From 2002 to 2007, the Company’s Brazilian subsidiary imported goods through the State of Espirito Santo in Brazil. 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 December 2010 and January 2011, the Company’s Brazilian subsidiary was served with two 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 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. The Company’s Brazilian subsidiary filed appeals with a State of Rio de Janeiro judicial court to annul both of these tax assessments following rulings against the Company by the tax administration’s highest council. In connection with those appeals, the Company deposited with the court a total amount of approximately $8.8 million in December 2014 and December 2016 as the full amount of the assessments with penalties and interest. 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. FMC Technologies Lawsuit On October 5, 2020, FMC Technologies, Inc. (“FMC”) sued the Company alleging misappropriation of trade secrets and seeking money damages and injunctive relief in the 127th District Court of Harris County in an action styled FMC Technologies, Inc. v. Richard Murphy and Dril-Quip, Inc. 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, certain of the Company's products 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, 2020
Segment Reporting [Abstract]
Geographic Segments	16. Year Ended December 31, 2020 2019 2018 (In thousands) Western Hemisphere Revenues Products Point in Time $ 79,433 $ 108,006 $ 135,687 Over Time 71,918 54,061 34,595 Total Products 151,351 162,067 170,282 Services Technical Advisory 33,431 31,962 29,973 Reconditioning 12,105 10,733 10,985 Total Services (excluding Leasing) 45,536 42,695 40,958 Leasing 18,448 22,202 25,302 Total Services (including Leasing) 63,984 64,897 66,260 Intercompany 13,015 12,856 13,343 Total $ 228,350 $ 239,820 $ 249,885 Depreciation and amortization $ 19,716 $ 21,737 $ 23,314 Income (loss) before taxes $ 3,067 $ 19,882 $ (29,823 ) Eastern Hemisphere Revenues Products Point in Time $ 30,191 $ 65,416 $ 49,216 Over Time 25,847 20,641 22,503 Total Products 56,038 86,057 71,719 Services Technical Advisory 9,489 15,100 16,499 Reconditioning 4,843 3,409 3,188 Total Services (excluding Leasing) 14,332 18,509 19,687 Leasing 7,610 12,351 13,639 Total Services (including Leasing) 21,942 30,860 33,326 Intercompany 2,375 1,267 2,010 Total $ 80,355 $ 118,184 $ 107,055 Depreciation and amortization $ 3,820 $ 4,163 $ 4,578 Income before taxes $ 3,284 $ 28,045 $ 20,495 Year Ended December 31, Asia-Pacific 2020 2019 2018 (In thousands) Revenues Products Point in Time $ 27,897 $ 44,908 $ 19,569 Over Time 23,548 10,247 3,482 Total Products 51,445 55,155 23,051 Services Technical Advisory 12,372 9,369 10,143 Reconditioning 3,337 1,445 1,626 Total Services (excluding Leasing) 15,709 10,814 11,769 Leasing 4,504 4,956 8,219 Total Services (including Leasing) 20,213 15,770 19,988 Intercompany 13,084 5,792 2,058 Total $ 84,742 $ 76,717 $ 45,097 Depreciation and amortization $ 5,126 $ 5,038 $ 4,785 Income (loss) before taxes $ 5,921 $ 27,302 $ (3,123 ) Corporate Depreciation and amortization $ 3,727 $ 3,082 $ 2,635 Loss before taxes $ (74,321 ) $ (64,800 ) $ (102,538 ) Consolidated Revenues Products Point in Time $ 137,521 $ 218,330 $ 204,472 Over Time 121,313 84,949 60,580 Total Products 258,834 303,279 265,052 Services Technical Advisory 55,292 56,431 56,615 Reconditioning 20,285 15,587 15,799 Total Services (excluding Leasing) 75,577 72,018 72,414 Leasing 30,562 39,509 47,160 Total Services (including Leasing) 106,139 111,527 119,574 Intercompany 28,474 19,915 17,411 Eliminations (28,474 ) (19,915 ) (17,411 ) Total $ 364,973 $ 414,806 $ 384,626 Depreciation and amortization $ 32,389 $ 34,020 $ 35,312 Income (loss) before taxes $ (62,049 ) $ 10,429 $ (114,989 ) December 31, 2020 2019 (In thousands) Total long-lived assets: Western Hemisphere $ 350,577 $ 379,776 Eastern Hemisphere 222,741 246,854 Asia-Pacific 68,600 71,384 Eliminations (353,939 ) (371,938 ) Total $ 287,979 $ 326,076 Total assets: Western Hemisphere $ 769,649 $ 732,716 Eastern Hemisphere 779,147 818,803 Asia-Pacific 186,808 181,188 Eliminations (584,432 ) (526,142 ) Total $ 1,151,172 $ 1,206,565 During 2020, we wrote down $25.5 million related to inventory and long-lived assets balances, with $22.3 million recorded in the Eastern Hemisphere and $3.2 million in the Western Hemisphere. We also recorded a full impairment of our goodwill balance of $7.7 million during the first quarter of 2020, all of which was in the Eastern Hemisphere. In 2020, Chevron and its affiliated companies accounted for approximately 11% of the Company’s total revenues. In 2019, BP and its affiliated companies accounted for approximately 10% of the Company’s total revenues. In 2018, BP and its affiliated companies accounted for approximately 13% of the Company’s total revenues. No other customer accounted for more than 10% of the Company’s total revenues in 2020, 2019 or 2018. 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 manufacturing facilities in all three of its regional 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.

Stock Repurchase Plan

Stock Repurchase Plan	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stock Repurchase Plan	17. On February 26, 2019, the Board of Directors authorized a share 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. During the year ended December 31, 2020, the Company purchased 808,389 shares at an average price of $30.91 under the share repurchase plan for approximately $25.0 million. During the year ended December 31, 2019, the Company purchased 615,940 shares at an average price of $43.12 under the share repurchase plan for approximately $26.6 million. Refer to Item 5. Market for Registrant's Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities for further discussion.

Stock-Based Compensation and St

Stock-Based Compensation and Stock Awards	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation and Stock Awards	18. 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 for awards under 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. On May 12, 2017, the Company’s stockholders approved the 2017 Omnibus Incentive Plan of Dril-Quip, Inc. (the “2017 Plan”), which reserved up to 1,500,000 shares of common stock to be used for awards under the 2017 Plan. Persons eligible for awards under the 2017 Plan are employees of the Company or any of its subsidiaries and members of the Board of Directors. Stock Options Options granted under the 2004 Plan have a term of ten years and become exercisable in cumulative annual increments of one-fourth 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, 2020 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, 2019 132,375 $ 67.85 Forfeited (74,750 ) 67.40 Outstanding at December 31, 2020 57,625 $ 68.43 - 0.8 Exercisable at year-end 57,625 $ 68.43 - 0.8 The total intrinsic value of stock options exercised in 2020, 2019 and 2018 was nil, $0.2 million and $0.7 million, respectively. The income tax benefit realized from stock options exercised was nil, $38,342 and $157,442 for the years ended December 31, 2020, 2019 and 2018, respectively. There were 108,992 anti-dilutive stock option shares on December 31, 2020. Stock-based compensation is recognized as selling, general and administrative expense in the accompanying Consolidated Statements of Income (Loss). For the years ended December 31, 2020, 2019 and 2018, there was no 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, 2020, there was no unrecognized compensation expense related to non-vested stock options as all outstanding options were fully vested. Restricted Stock Awards On October 28, 2020 and 2019 and 2018, pursuant to the 2017 Plan, the Company awarded officers, directors and key employees restricted stock awards (RSAs), which is an award of common stock subject to time vesting. The awards issued under both the 2017 Plan and 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 the event 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: Restricted Stock Weighted- average Grant Date Fair Value Unvested at December 31, 2019 348,690 $ 43.16 Granted 340,107 24.24 Vested (172,501 ) 42.02 Forfeited (35,520 ) 42.88 Nonvested at December 31, 2020 480,776 $ 30.20 RSA compensation expense for the years ended December 31, 2020, 2019 and 2018 totaled $7.5 million, $8.6 million and $8.8 million, respectively. For 2020, 2019 and 2018, the income tax benefit recognized in net income for RSAs was $1.1 million, $2.0 million and $1.5 million, respectively. As of December 31, 2020, there was $7.2 million of total unrecognized compensation cost related to nonvested RSAs, which is expected to be recognized over a weighted average period of 2.9 years. There were 352,408 anti-dilutive restricted shares on December 31, 2020. Performance Unit Awards On October 28, 2020, 2019 and 2018, pursuant to the 2017 Plan, the Company awarded performance unit awards (Performance Units) to officers and key employees. The Performance Units were valued on a per unit basis based on a Monte Carlo simulation at $32.05 for the 2020 grants, $48.47 for the 2019 grants, and $54.62 for the 2018 grants, approximately 134.3%, 108.9% and 126.8%, respectively, of the grant date share price. Under the terms of the Performance Units, 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, 2020 and 2019 and 2018 to September 30, 2023 and 2022, and 2021, 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: 2020 2019 2018 Grant date October 28, 2020 October 28, 2019 October 28, 2018 Performance period October 1, 2020 to September 30, 2023 October 1, 2019 to September 30, 2022 October 1, 2018 to September 30, 2021 Volatility 50.9% 38.8% 32.6% Risk-free interest rate 0.2% 1.7% 2.9% Grant date price $ 23.86 $ 44.53 $ 43.09 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, 2019 268,550 $ 52.81 Granted 264,355 40.66 Vested (168,902 ) 54.64 Forfeited (33,036 ) 53.06 Nonvested balance at December 31, 2020 330,967 $ 42.10 Performance Unit compensation expense was $4.0 million, $9.6 million and $4.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. The income tax benefit recognized in net income for Performance Units was $0.8 million, $1.9 million and $0.4 million, for the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020, there was $9.0 million of total unrecognized compensation expense related to nonvested Performance Units which is expected to be recognized over a weighted average period of 2.3 years. There were 349,014 anti-dilutive Performance Units at December 31, 2020. Director Stock Compensation Awards In June 2014, the Board of Directors authorized a stock compensation program for the directors pursuant to the 2004 Plan. This program continues under the 2017 Plan. Under this program, the Directors may elect to receive all or a portion of their fees in the form of restricted stock awards (DSAs) 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 of the second year after the grant date. The Company's DSA activity for the year ended December 31, 2020 is presented below: DSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2019 36,320 $ 44.61 Granted 58,194 29.41 Vested (32,318 ) 45.16 Nonvested balance at December 31, 2020 62,196 $ 30.18 Director stock compensation awards expense for 2020 was $1,464,590 as compared to $782,125 for 2019 and $460,884 for 2018. For 2020, 2019, and 2018, the income tax benefit recognized in net income for DSAs was $208,106, $58,901, and $81,879, respectively. There was $957,281 of unrecognized compensation expense related to nonvested DSAs, which is expected to be recognized over a weighted average period of one year. There were 48,676 anti-dilutive DSA shares on December 31, 2020. Equity Compensation Plan Information The following table summarizes information for equity compensation plans in effect as of December 31, 2020 : Number of securities to be issued upon exercise of outstanding options, warrants and rights (1) Weighted- average exercise price of outstanding options, warrants and rights (2) Number of securities remaining available for future issuance under equity compensation plan Plan category (a) (b) (c) Equity compensation plans approved by stockholders 388,592 $ 68.43 11,897 Total 388,592 $ 68.43 11,897 (1) Excludes 542,972 shares of unvested RSAs and DSAs, which were granted pursuant to the 2017 Plan and the 2004 Plan. Includes 330,967 unvested Performance Units shown at 100% level of performance achievement. (2) The weighted average exercise price does not take into account 330,967 unvested Performance Units, which do not have an exercise price.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	19. The following is a reconciliation of the basic and diluted earnings per share computation. Year Ended December 31, 2020 2019 2018 (In thousands, except per share amounts) Net income (loss) $ (30,768 ) $ 1,720 $ (95,695 ) Weighted average basic common shares outstanding 35,260 35,839 37,075 Effect of dilutive securities - stock options and awards - 313 - Total shares and dilutive securities 35,260 36,152 37,075 Basic income (loss) per common share $ (0.87 ) $ 0.05 $ (2.58 ) Diluted income (loss) per common share $ (0.87 ) $ 0.05 $ (2.58 ) For the years ended December 31, 2020, 2019 and 2018, the Company has excluded the following common stock options and awards because their impact on the loss per share is anti-dilutive (in thousands on a weighted average basis): Year Ended December 31, 2020 2019 2018 (In thousands) Director stock awards 49 6 9 Stock options 109 185 6 Performance share units 349 15 169 Restricted stock awards 352 46 240

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations (Unaudited)	20. Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) Unaudited 2020 Revenues $ 95,998 $ 90,446 $ 91,295 $ 87,234 Cost of sales 71,414 66,937 67,211 64,136 Gross profit 24,584 23,509 24,084 23,098 Operating loss (2) (42,322 ) (7,505 ) (2,104 ) (11,628 ) Net income (loss) (19,698 ) (14,142 ) 14,326 (11,254 ) Earnings (loss) per share: Basic (1) $ (0.55 ) $ (0.40 ) $ 0.41 $ (0.33 ) Diluted (1) $ (0.55 ) $ (0.40 ) $ 0.41 $ (0.33 ) 2019 Revenues $ 94,317 $ 103,808 $ 108,227 $ 108,454 Cost of sales 69,376 73,867 76,023 75,741 Gross profit 24,941 29,941 32,204 32,713 Operating income (loss) (5,603 ) 2,120 222 6,064 Net income (loss) (6,051 ) 1,681 (1,310 ) 7,400 Earnings (loss) per share: Basic (1) $ (0.17 ) $ 0.05 $ (0.04 ) $ 0.21 Diluted (1) $ (0.17 ) $ 0.05 $ (0.04 ) $ 0.21 (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. ( 2 ) Operating loss for the quarter ending March 31, 2020 included restructuring and other charges and goodwill impairment as discussed in "Restructuring and Other Charges", Note 7 and “Goodwill”, Note 8 of Notes to the Consolidated Financial Statements in Item 8 of Part II, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	21. None.

Schedule II_Valuation and Quali

Schedule II—Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
Valuation And Qualifying Accounts [Abstract]
Schedule II—Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Description Balance at beginning of period Charges to costs and expenses Recoveries and write offs Balance at end of period (In thousands) Allowance for doubtful trade receivables December 31, 2020 $ 2,214 $ 1,876 $ (1,935 ) $ 2,155 December 31, 2019 $ 5,666 $ 617 $ (4,069 ) $ 2,214 December 31, 2018 $ 4,519 $ 3,794 $ (2,647 ) $ 5,666 Allowance for slow moving and excess inventory December 31, 2020 $ 71,020 $ 15,595 $ (4,466 ) $ 82,149 December 31, 2019 $ 108,567 $ 1,032 $ (38,579 ) $ 71,020 December 31, 2018 $ 83,566 $ 34,155 $ (9,154 ) $ 108,567

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
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.
Reclassifications	Reclassifications We reclassified approximately $1.6 million and $1.0 million of foreign currency transaction gains for the years ended December 31, 2019 and 2018, respectively, from selling, general and administrative to foreign currency transaction (gains) and losses. These reclassifications did not have an impact on our Consolidated Statements of Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income (Loss), Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Cash Flows .
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 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. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect COVID-19 as a global pandemic may have, and, as a result, the ultimate impact of COVID-19 and the extent to which COVID-19 continues to impact the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition and slow moving and excess inventories.
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. The allowance estimate includes expected recoveries of amounts previously written off and expected to be written off in the valuation account. 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 net realizable value. 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. Inventory Reserves Periodically, obsolescence reviews are performed on slow moving and excess inventories and reserves are established based on current assessments about future demands and market conditions. The Company determines the reserve percentages based on an analysis of stocking levels, historical sales levels and future sales forecasts anticipated for inventory items by product type. The inventory values have been reduced by a reserve for slow moving and excess inventories of $82.1 million and $71.0 million as of December 31, 2020 and 2019, respectively. If market conditions are less favorable than those projected by management, additional inventory reserves may be required.
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. We capitalize costs incurred to enhance, improve and extend the useful lives of our property and equipment and expense costs incurred to repair and maintain the existing condition of our assets.
Goodwill and intangible assets	Goodwill and intangible assets For goodwill and intangible assets, an assessment for impairment is performed annually or when there is an indication an impairment may have occurred. Goodwill is not amortized but rather tested for impairment annually on October 1 or when events occur or circumstances change that would trigger such a review. The impairment test entails an assessment of qualitative factors to determine whether it is more likely than not that an impairment exists. If it is more likely than not that an impairment exists, then a quantitative impairment test is performed. Impairment exists when the carrying amount of a reporting unit exceeds its fair value. We complete our annual impairment test for goodwill and other intangibles using an assessment date of October 1. An interim goodwill impairment analysis was performed in connection with the preparation and review of financial statements during the first quarter of 2020. Based on this analysis, we fully impaired our goodwill balance of $7.7 million, all of which was in the Eastern Hemisphere reporting unit. Goodwill is reviewed for impairment by comparing the carrying value of each of our reporting unit’s net assets, including allocated goodwill, to the estimated fair value of the reporting unit. We determine the fair value of our reporting units using a discounted cash flow approach. We selected this valuation approach because we believe it, combined with our best judgment regarding underlying assumptions and estimates, provides the best estimate of fair value for each of our reporting units. Determining the fair value of a reporting unit requires the use of estimates and assumptions. Such estimates and assumptions include revenue growth rates, future operating margins, the weighted average cost of capital ("discount rates"), a terminal growth value and future market conditions, among others. We believe that the estimates and assumptions used in our impairment assessments are reasonable. If the reporting unit’s carrying value is greater than its calculated fair value, we recognize a goodwill impairment charge for the amount by which the carrying value of goodwill exceeds its fair value. In 2019, we performed an analysis of our goodwill and as a result of our qualitative assessment no impairment was recorded. For the year ended December 31, 2018, we recorded an impairment charge of $38.6 million. For further information, see Note 8, “Goodwill.”
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. We review the recoverability of the carrying value of our assets based upon estimated future cash flows while taking into consideration assumptions and estimates, including the future use of the asset, remaining useful life of the asset and service potential of the asset. Additionally, inventories are valued at the lower of cost or net realizable value.
Restructuring and Other Charges	Restructuring and other charges During 2020, the overall offshore market conditions declined as a result of the COVID-19 pandemic and developments in global oil markets and decreases in our customers’ capital budgets. As such, we incurred additional costs under our existing 2018 global strategic plan to realign our manufacturing facilities globally. We incurred restructuring and other charges of $35.4 million related to non-cash inventory write-downs, severance, long-lived asset write-downs and other charges of approximately $17.3 million, $8.4 million, $8.3 million, and $1.4 million, respectively, for the year ended December 31, 2020. Other charges consisted primarily of professional fees related to the global strategic plan. During 2019, we incurred approximately $4.4 million of expenses primarily associated with professional fees related to our strategic restructuring and approximately $1.1 million in severance payout to our former Chief Operating Officer, pursuant to a separation agreement entered into with him during the first quarter of 2019. There were no costs incurred for employee termination benefits during the year ended December 31, 2019. As a result of unfavorable market conditions, combined with the impact of decreased capital expenditure budgets within the industry driven by sustained low oil prices, we announced a cost reduction plan primarily focused on workforce reductions and the reorganization of certain facilities in the second quarter of 2018. During 2018, we incurred non-cash inventory, long-lived asset write-downs and employee termination benefits of approximately $32.1 million, $14.9 million and $7.3 million, respectively, as a result of expected changes in our business structure and where specific products are manufactured. Additionally, in 2018, there were other charges incurred of approximately $5.7 million related to professional fees for consulting services for the strategic planning and implementation efforts. These charges are reflected as "Restructuring and other charges" in our Consolidated Statements of Income (Loss).
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. Valuation allowances are established when necessary to reduce deferred income tax assets to the amounts that are expected more likely than not to be realized in the future. 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 are recognized over time as control is transferred to the customer; and • product revenues from the sale of products that do not qualify for the over time method are recognized as point in time. Revenues recognized under the over time method The Company uses the over time 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; • product requirements cannot be filled directly from the Company’s standard inventory; and • The Company has an enforceable right to payment for any work completed to date and the enforceable payment includes a reasonable profit margin. 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 to be recognized. 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 over time 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 unbilled receivables. Unbilled revenues are expected to be billed and collected within one year. At December 31, 2020 and 2019, unbilled receivables included $96.5 million and $83.2 million of unbilled receivables related to products accounted for using over time method of accounting, respectively. For the year ended December 31, 2020, there were 57 projects representing approximately 33.2% of the Company’s total revenues and approximately 46.9% of its product revenues, and 36 projects during 2019 representing approximately 20.5% of the Company’s total revenues and approximately 28.0% of its product revenues, which were accounted for using over time method of accounting. Revenues recognized under the point in time method Revenues from the sale of standard inventory products, not accounted for under the over time method, are recorded at the point in time that the customer obtains control of the promised asset and the Company satisfies its performance obligation. This point in time recognition aligns with when the product is available to the customer, which is when the Company typically has a present right to payment, title transfers to the customer, the customer or its carrier has physical possession and the customer has significant risks and rewards of ownership. The Company may provide product storage to some customers. Revenues for these products are recognized at the point in time that control of the product transfers to the customer, the reason for storage is requested by the customer, the product is separately identified, the product is ready for physical transfer to the customer and the Company does not have the ability to use or direct the use of the product. This point in time typically occurs when the products are moved to storage. We receive payment after control of the products has transferred to the customer. Service revenues The Company recognizes service revenues from two sources: • technical advisory assistance; and • rework and reconditioning of customer-owned Dril-Quip products. The Company generally does not install products for its customers, but it does provide technical advisory assistance. The Company normally negotiates contracts for products, including those accounted for under the over time 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. The contracts for these services are typically considered day-to-day. Rework and reconditioning service revenues are recorded using the over time method based on the remaining steps that need to be completed as the refurbishment process is performed. The measurement of progress considers, among other things, the time necessary for completion of each step in the reconditioning plan, the materials to be purchased, labor and ordering procedures. We receive payment after the services have been performed by billing customers periodically (typically monthly). Leasing revenues The Company earns leasing revenues from the rental of running tools and rental of its forging facility. Revenues from rental of running tools are recognized within leasing revenues on a day rate basis over the lease term, which is generally between one to three months. Rental revenue from the forging facility is recognized on a straight-line basis over the expected life of the lease. Leasing revenues from rental of running tools during years ended December 31, 2020 and 2019 were $28.5 million and $39.0 million, respectively. Leasing revenues from rental of facilities were $2.1 million and $0.5 million, respectively, for the same period. Practical Expedients As permitted under Accounting Standards Update (ASU) 2016-02 “Leases (Topic 842),” we elected the package of practical expedients permitted under the transition guidance which, among other things, allows companies to carry forward their historical lease classification.
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. The Company had, net of income taxes, a transaction loss of $1.9 million in 2020, a transaction gain of $1.3 million in 2019 and a transaction gain of $0.8 million in 2018.
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 is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed considering the dilutive effect of stock options and awards using the treasury stock method.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Revenue from Contract with Customer Excludes Leasing	Revenues from contracts with customers (excludes leasing) consisted of the following: Twelve Months Ended December 31, 2020 Western Hemisphere Eastern Hemisphere Asia- Pacific Total (In thousands) Product Revenues $ 151,351 $ 56,038 $ 51,445 $ 258,834 Service Revenues $ 45,536 $ 14,332 $ 15,709 $ 75,577 Total $ 196,887 $ 70,370 $ 67,154 $ 334,411 Twelve Months Ended December 31, 2019 Western Hemisphere Eastern Hemisphere Asia- Pacific Total (In thousands) Product Revenues $ 162,067 $ 86,057 $ 55,155 $ 303,279 Service Revenues 42,694 18,509 10,815 72,018 Total $ 204,761 $ 104,566 $ 65,970 $ 375,297
Schedule of Contract Asset and Liability	Balances related to contracts with customers consisted of the following: Contract Assets (amounts shown in thousands) Contract Assets at December 31, 2019 $ 136,332 Additions 111,828 Transfers to Accounts Receivable (112,187 ) Contract Assets at December 31, 2020 $ 135,973 Contract Liabilities (amounts shown in thousands) Contract Liabilities at December 31, 2019 $ 6,901 Additions 16,393 Revenue Recognized (12,479 ) Contract Liabilities at December 31, 2020 $ 10,815

Inventories, net (Tables)

Inventories, net (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: December 31, 2020 2019 (In thousands) Raw materials and supplies $ 32,833 $ 46,282 Work in progress 44,924 54,171 Finished goods 216,928 175,629 294,685 276,082 Less: allowance for slow moving and excess inventory (82,149 ) (71,020 ) Total inventory $ 212,536 $ 205,062

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consists of: Estimated Useful December 31, Lives 2020 2019 (In thousands) Land improvements 10-25 years $ 7,379 $ 7,790 Buildings 15-40 years 206,732 213,705 Machinery, equipment and other 3-10 years 390,803 382,837 604,914 604,332 Less accumulated depreciation (399,095 ) (371,365 ) 205,819 232,967 Land 12,408 12,550 Construction work in process 16,596 12,980 Total property, plant and equipment $ 234,823 $ 258,497

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	12 Months Ended
	Dec. 31, 2020
Schedule of Impairment, Restructuring and Other Charges	The following table summarizes the components of charges included in "Restructuring and other charges" in our Consolidated Statements of Income (Loss) for the year ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Inventory write-down $ 17,272 $ - $ 32,070 Severance 8,462 1,125 7,324 Long-lived asset write-down 8,269 - 14,902 Exit costs - - 447 Other 1,377 3,271 5,300 $ 35,380 $ 4,396 $ 60,043
Schedule of Accrued Liabilities Related to Restructuring and Others Charges	Current other accrued liabilities consist of the following: December 31, 2020 2019 (In thousands) Accrued vendor costs $ 10,610 $ 10,289 Property, sales and other taxes 6,014 7,243 Commissions payable 1,065 2,426 Payroll taxes 4,760 2,159 Severance 1,147 - Other 2,685 2,124 Total $ 26,281 $ 24,241
Restructuring and Other Charges
Schedule of Accrued Liabilities Related to Restructuring and Others Charges	The following table summarizes the changes to our accrued liability balance related to restructuring and other charges as of December 30, 2020 (in thousands): December 31, 2020 Balance at January 1, 2020 $ - Additions for costs expensed 8,462 Reductions for payments (7,316 ) Ending balance at December 31, 2020 $ 1,146

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The Carrying Value January 1, 2020 Foreign Currency Translation Impairments Carrying Value December 31, 2020 (In thousands) Western Hemisphere $ - $ - $ - $ - Eastern Hemisphere 7,947 (247 ) (7,700 ) - Asia-Pacific - - - - Total $ 7,947 $ (247 ) $ (7,700 ) $ - Carrying Value January 1, 2019 Foreign Currency Translation Impairments Carrying Value December 31, 2019 (In thousands) Western Hemisphere $ - $ - $ - $ - Eastern Hemisphere 7,714 233 - 7,947 Asia-Pacific - - - - Total $ 7,714 $ 233 $ - $ 7,947

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
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 and OPT, consist of the following: Estimated Useful Lives 2020 Gross Book Value Accumulated Amortization Foreign Currency Translation Net Book Value (In thousands) Trademarks 15 years $ 8,238 $ (1,033 ) $ (5 ) $ 7,200 Patents 15 - 30 years 6,054 (2,715 ) (2 ) 3,337 Customer relationships 5 - 15 years 25,966 (7,304 ) 65 18,727 Non-compete agreements 3 years 171 (171 ) - - Organizational Costs indefinite 179 (15 ) 6 170 $ 40,608 $ (11,238 ) $ 64 $ 29,434 Estimated Useful Lives 2019 Gross Book Value Accumulated Amortization Foreign Currency Translation Net Book Value (In thousands) Trademarks 15 years $ 8,159 $ (512 ) $ 47 $ 7,694 Patents 15 - 30 years 5,945 (2,529 ) - 3,416 Customer relationships 5 - 15 years 25,787 (4,954 ) 122 20,955 Non-compete agreements 3 years 171 (170 ) - 1 Organizational costs indefinite 172 - 7 179 $ 40,234 $ (8,165 ) $ 176 $ 32,245

Leases and Lease Commitments (T

Leases and Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Classification of Leases	Certain lease agreements include rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. December 31, 2020 December 31, 2019 Classification (In thousands) (In thousands) Assets Operating Operating lease right of use assets $ 6,962 $ 5,144 Finance Other assets 228 437 Total lease assets $ 7,190 $ 5,581 Liabilities Current Operating Operating lease liabilities $ 1,110 $ 1,314 Finance Other accrued liabilities 141 228 Noncurrent Operating Operating lease liabilities, long-term 5,845 3,801 Finance Other long-term liabilities 93 224 Total lease liabilities $ 7,189 $ 5,567
Schedule of Lease Costs	Our lease costs are as follows: Twelve Months Ended December 31, 2020 December 31, 2019 (In thousands) (In thousands) Classification Operating lease cost Selling, general and administrative $ 1,617 $ 1,713 Short-term lease costs Selling, general and administrative 2,173 2,104 Amortization of leased assets Selling, general and administrative 186 361 Interest on lease liabilities Net interest expense 14 25 Total lease cost $ 3,990 $ 4,203
Schedule of Maturity of Lease Obligations	Twelve months ended December 31, 2020 Operating Finance Leases Leases Total (In thousands) 2021 $ 1,376 $ 149 $ 1,525 2022 1,125 54 1,179 2023 870 26 896 2024 625 20 645 2025 602 - 602 After 2025 4,654 - 4,654 Total lease payments 9,252 249 9,501 Less: interest 2,297 15 2,312 Present value of lease liabilities $ 6,955 $ 234 $ 7,189
Schedule of Lease Term and Discount Rate for Operating and Finance Leases	The lease term and discount rate for our operating and finance leases is as follows: December 31, 2020 Weighted average remaining lease term (years) Operating leases 11.7 Finance leases 2.3 Weighted average discount rate Operating leases 5.1 % Finance leases 4.5 %
Schedule of Other Information Pertaining to Lease Obligations	Other information pertaining to our lease obligations is as follows: December 31, 2020 December 31, 2019 (In thousands) (In thousands) Other Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,615 $ 1,737 Operating cash flows from finance leases 16 28 Financing cash flows from finance leases 183 183

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes	Income (loss) before income taxes consisted of the following: Year Ended December 31, 2020 2019 2018 (In thousands) Domestic $ (76,056 ) $ (51,041 ) $ (120,784 ) Foreign 14,007 61,470 5,795 Total $ (62,049 ) $ 10,429 $ (114,989 )
Schedule of Income Tax Provision (Benefit)	The income tax provision (benefit) consists of the following: Year Ended December 31, 2020 2019 2018 (In thousands) Current: Federal $ (44,752 ) $ (569 ) $ (24,366 ) Foreign 8,454 8,513 9,163 Total current (36,298 ) 7,944 (15,203 ) Deferred: Federal - - - Foreign 5,017 765 (4,091 ) Total deferred 5,017 765 (4,091 ) Total $ (31,281 ) $ 8,709 $ (19,294 )
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, 2020 2019 2018 Federal income tax statutory rate 21.00 % 21.00 % 21.00 % CARES ACT NOL rate differential (2019 and 2020) 32.60 - - Accrual for undistributed earnings (5.15 ) - - Foreign income tax rate differential (1.03 ) 16.20 (0.94 ) Foreign development tax incentive (0.38 ) (0.91 ) 0.24 Nondeductible goodwill impairment (2.42 ) - (5.21 ) Exempt income 1.25 (24.02 ) 2.32 Foreign taxes and inclusions (net of FTC) (9.26 ) 21.00 (1.83 ) Transition tax (net of FTC) - - 5.80 Nondeductible expenses (5.35 ) 15.51 (1.03 ) Manufacturing benefit (7.32 ) - (1.18 ) Change in valuation allowance 28.26 24.96 (1.99 ) Changes to PY Accruals (3.15 ) 6.28 (1.17 ) Deferred tax rate change (0.10 ) (0.36 ) 0.66 Change in Uncertain tax positions (0.83 ) 4.31 (0.78 ) Interest on net equity - - 1.02 General business credits 2.32 (11.14 ) 0.59 Branch income (0.31 ) 9.64 (0.66 ) Other 0.28 1.03 (0.06 ) Effective tax rate 50.41 % 83.50 % 16.78 %
Components of Net Deferred Tax Assets (Liabilities)	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. Significant components of the Company’s net deferred tax assets (liabilities) are as follows: As of December 31, 2020 2019 (In thousands) Deferred tax assets: Foreign tax credit carryforward $ 6,549 $ 4,817 Inventory 13,536 17,777 Net operating losses 1,250 18,991 Allowance for doubtful accounts 490 358 Reserve for accrued liabilities 4,029 2,732 Stock options 1,670 2,782 Unrealized gain/loss 1,554 1,862 Disallowed interest carryforward 1,912 - Other 1,939 867 Total deferred tax assets 32,929 50,186 Valuation allowance (17,049 ) (34,464 ) Deferred tax liabilities: Property, plant and equipment (6,048 ) (5,757 ) Goodwill & Intangibles (1,903 ) (2,092 ) Deferred revenue (3,415 ) (1,830 ) Reserve for unremitted earnings (3,608 ) - Other (1,917 ) (1,257 ) Total deferred tax liability (16,891 ) (10,936 ) Net deferred tax asset $ (1,011 ) $ 4,786
Summary of Operating Loss Carryforwards	Tax operating loss carryforwards totaled $5.2 million (gross) at December 31, 2020. These operating losses will expire as shown in the table below. Tax operating losses Expiration (in thousands) $ 1,466 2021-2026 29 2027-2033 1,899 2034-2039 1,827 Indefinite $ 5,221
Schedule of Uncertain Tax Positions	A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions is as follows: 2020 2019 2018 (In thousands) Balance at beginning of year $ 18,665 $ 18,648 $ 18,323 Additions for tax positions related to the current year 3 - - Reductions for tax positions related to the prior year (3 ) 17 325 Balance at end of year $ 18,665 $ 18,665 $ 18,648

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities Related to Restructuring and Others Charges	Current other accrued liabilities consist of the following: December 31, 2020 2019 (In thousands) Accrued vendor costs $ 10,610 $ 10,289 Property, sales and other taxes 6,014 7,243 Commissions payable 1,065 2,426 Payroll taxes 4,760 2,159 Severance 1,147 - Other 2,685 2,124 Total $ 26,281 $ 24,241

Geographic Segments (Tables)

Geographic Segments (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting	Year Ended December 31, 2020 2019 2018 (In thousands) Western Hemisphere Revenues Products Point in Time $ 79,433 $ 108,006 $ 135,687 Over Time 71,918 54,061 34,595 Total Products 151,351 162,067 170,282 Services Technical Advisory 33,431 31,962 29,973 Reconditioning 12,105 10,733 10,985 Total Services (excluding Leasing) 45,536 42,695 40,958 Leasing 18,448 22,202 25,302 Total Services (including Leasing) 63,984 64,897 66,260 Intercompany 13,015 12,856 13,343 Total $ 228,350 $ 239,820 $ 249,885 Depreciation and amortization $ 19,716 $ 21,737 $ 23,314 Income (loss) before taxes $ 3,067 $ 19,882 $ (29,823 ) Eastern Hemisphere Revenues Products Point in Time $ 30,191 $ 65,416 $ 49,216 Over Time 25,847 20,641 22,503 Total Products 56,038 86,057 71,719 Services Technical Advisory 9,489 15,100 16,499 Reconditioning 4,843 3,409 3,188 Total Services (excluding Leasing) 14,332 18,509 19,687 Leasing 7,610 12,351 13,639 Total Services (including Leasing) 21,942 30,860 33,326 Intercompany 2,375 1,267 2,010 Total $ 80,355 $ 118,184 $ 107,055 Depreciation and amortization $ 3,820 $ 4,163 $ 4,578 Income before taxes $ 3,284 $ 28,045 $ 20,495 Year Ended December 31, Asia-Pacific 2020 2019 2018 (In thousands) Revenues Products Point in Time $ 27,897 $ 44,908 $ 19,569 Over Time 23,548 10,247 3,482 Total Products 51,445 55,155 23,051 Services Technical Advisory 12,372 9,369 10,143 Reconditioning 3,337 1,445 1,626 Total Services (excluding Leasing) 15,709 10,814 11,769 Leasing 4,504 4,956 8,219 Total Services (including Leasing) 20,213 15,770 19,988 Intercompany 13,084 5,792 2,058 Total $ 84,742 $ 76,717 $ 45,097 Depreciation and amortization $ 5,126 $ 5,038 $ 4,785 Income (loss) before taxes $ 5,921 $ 27,302 $ (3,123 ) Corporate Depreciation and amortization $ 3,727 $ 3,082 $ 2,635 Loss before taxes $ (74,321 ) $ (64,800 ) $ (102,538 ) Consolidated Revenues Products Point in Time $ 137,521 $ 218,330 $ 204,472 Over Time 121,313 84,949 60,580 Total Products 258,834 303,279 265,052 Services Technical Advisory 55,292 56,431 56,615 Reconditioning 20,285 15,587 15,799 Total Services (excluding Leasing) 75,577 72,018 72,414 Leasing 30,562 39,509 47,160 Total Services (including Leasing) 106,139 111,527 119,574 Intercompany 28,474 19,915 17,411 Eliminations (28,474 ) (19,915 ) (17,411 ) Total $ 364,973 $ 414,806 $ 384,626 Depreciation and amortization $ 32,389 $ 34,020 $ 35,312 Income (loss) before taxes $ (62,049 ) $ 10,429 $ (114,989 ) December 31, 2020 2019 (In thousands) Total long-lived assets: Western Hemisphere $ 350,577 $ 379,776 Eastern Hemisphere 222,741 246,854 Asia-Pacific 68,600 71,384 Eliminations (353,939 ) (371,938 ) Total $ 287,979 $ 326,076 Total assets: Western Hemisphere $ 769,649 $ 732,716 Eastern Hemisphere 779,147 818,803 Asia-Pacific 186,808 181,188 Eliminations (584,432 ) (526,142 ) Total $ 1,151,172 $ 1,206,565

Stock-Based Compensation and _2

Stock-Based Compensation and Stock Awards (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Option Activity	Option activity for the year ended December 31, 2020 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, 2019 132,375 $ 67.85 Forfeited (74,750 ) 67.40 Outstanding at December 31, 2020 57,625 $ 68.43 - 0.8 Exercisable at year-end 57,625 $ 68.43 - 0.8
Summary of RSA Activity	The Company’s RSA activity and related information is presented below: Restricted Stock Weighted- average Grant Date Fair Value Unvested at December 31, 2019 348,690 $ 43.16 Granted 340,107 24.24 Vested (172,501 ) 42.02 Forfeited (35,520 ) 42.88 Nonvested at December 31, 2020 480,776 $ 30.20
Schedule of Valuation Assumptions	Assumptions used in the Monte Carlo simulation are as follows: 2020 2019 2018 Grant date October 28, 2020 October 28, 2019 October 28, 2018 Performance period October 1, 2020 to September 30, 2023 October 1, 2019 to September 30, 2022 October 1, 2018 to September 30, 2021 Volatility 50.9% 38.8% 32.6% Risk-free interest rate 0.2% 1.7% 2.9% Grant date price $ 23.86 $ 44.53 $ 43.09
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, 2019 268,550 $ 52.81 Granted 264,355 40.66 Vested (168,902 ) 54.64 Forfeited (33,036 ) 53.06 Nonvested balance at December 31, 2020 330,967 $ 42.10
Schedule of DSA Activity	The Company's DSA activity for the year ended December 31, 2020 is presented below: DSA Number of Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2019 36,320 $ 44.61 Granted 58,194 29.41 Vested (32,318 ) 45.16 Nonvested balance at December 31, 2020 62,196 $ 30.18
Schedule of Information for Stock Option Plans	Equity Compensation Plan Information The following table summarizes information for equity compensation plans in effect as of December 31, 2020 : Number of securities to be issued upon exercise of outstanding options, warrants and rights (1) Weighted- average exercise price of outstanding options, warrants and rights (2) Number of securities remaining available for future issuance under equity compensation plan Plan category (a) (b) (c) Equity compensation plans approved by stockholders 388,592 $ 68.43 11,897 Total 388,592 $ 68.43 11,897 (1) Excludes 542,972 shares of unvested RSAs and DSAs, which were granted pursuant to the 2017 Plan and the 2004 Plan. Includes 330,967 unvested Performance Units shown at 100% level of performance achievement. (2) The weighted average exercise price does not take into account 330,967 unvested Performance Units, which do not have an exercise price.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (In thousands, except per share amounts) Net income (loss) $ (30,768 ) $ 1,720 $ (95,695 ) Weighted average basic common shares outstanding 35,260 35,839 37,075 Effect of dilutive securities - stock options and awards - 313 - Total shares and dilutive securities 35,260 36,152 37,075 Basic income (loss) per common share $ (0.87 ) $ 0.05 $ (2.58 ) Diluted income (loss) per common share $ (0.87 ) $ 0.05 $ (2.58 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For the years ended December 31, 2020, 2019 and 2018, the Company has excluded the following common stock options and awards because their impact on the loss per share is anti-dilutive (in thousands on a weighted average basis): Year Ended December 31, 2020 2019 2018 (In thousands) Director stock awards 49 6 9 Stock options 109 185 6 Performance share units 349 15 169 Restricted stock awards 352 46 240

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results of Operations	Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) Unaudited 2020 Revenues $ 95,998 $ 90,446 $ 91,295 $ 87,234 Cost of sales 71,414 66,937 67,211 64,136 Gross profit 24,584 23,509 24,084 23,098 Operating loss (2) (42,322 ) (7,505 ) (2,104 ) (11,628 ) Net income (loss) (19,698 ) (14,142 ) 14,326 (11,254 ) Earnings (loss) per share: Basic (1) $ (0.55 ) $ (0.40 ) $ 0.41 $ (0.33 ) Diluted (1) $ (0.55 ) $ (0.40 ) $ 0.41 $ (0.33 ) 2019 Revenues $ 94,317 $ 103,808 $ 108,227 $ 108,454 Cost of sales 69,376 73,867 76,023 75,741 Gross profit 24,941 29,941 32,204 32,713 Operating income (loss) (5,603 ) 2,120 222 6,064 Net income (loss) (6,051 ) 1,681 (1,310 ) 7,400 Earnings (loss) per share: Basic (1) $ (0.17 ) $ 0.05 $ (0.04 ) $ 0.21 Diluted (1) $ (0.17 ) $ 0.05 $ (0.04 ) $ 0.21 (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. ( 2 ) Operating loss for the quarter ending March 31, 2020 included restructuring and other charges and goodwill impairment as discussed in "Restructuring and Other Charges", Note 7 and “Goodwill”, Note 8 of Notes to the Consolidated Financial Statements in Item 8 of Part II, respectively.

Organization - Additional Infor

Organization - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020SegmentLocation
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of geographic segments | Segment	3
Number of headquarter locations | Location	3

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)Project	Dec. 31, 2018USD ($)Project
Accounting Policies [Line Items]
Reclassified from selling general and administrative cost to foreign currency transaction gain loss				$ 1,600,000	$ 1,000,000
Inventory reserves			$ 82,149,000	71,020,000
Goodwill impairment loss	$ 7,700,000		7,700,000	0	38,600,000
Restructuring and other charges			35,380,000	4,396,000	60,043,000
Non-cash inventory write-downs			17,272,000		32,070,000
Long-lived asset write-downs			8,300,000		14,900,000
Severance costs			8,462,000	1,125,000	7,324,000
Restructuring costs			1,400,000	4,400,000	$ 5,700,000
Unbilled receivables			140,318,000	$ 140,534,000
Number of projects | Project				57	36
Percentage of total revenues				33.20%	20.50%
Percentage of product revenues				46.90%	28.00%
Leasing revenues			30,562,000	$ 39,509,000	$ 47,160,000
Gain (loss) in foreign currency exchange transactions			(1,900,000)	1,300,000	$ 800,000
Running Tools
Accounting Policies [Line Items]
Leasing revenues			28,500,000	39,000,000
Rental Facilities
Accounting Policies [Line Items]
Leasing revenues			2,100,000	500,000
Over Time Method
Accounting Policies [Line Items]
Unbilled receivables			96,500,000	83,200,000
Covid 19
Accounting Policies [Line Items]
Severance costs			8,400,000	0
Chief Operating Officer
Accounting Policies [Line Items]
Severance costs		$ 1,100,000
Inventories
Accounting Policies [Line Items]
Inventory reserves			$ 82,100,000	$ 71,000,000

Revenue Recognition - Revenues

Revenue Recognition - Revenues From Contracts With Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Revenues	$ 334,411	$ 375,297
Western Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	196,887	204,761
Eastern Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	70,370	104,566
Asia Pacific | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	67,154	65,970
Products
Disaggregation Of Revenue [Line Items]
Revenues	258,834	303,279	$ 265,052
Products | Western Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	151,351	162,067
Products | Eastern Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	56,038	86,057
Products | Asia Pacific | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	51,445	55,155
Services
Disaggregation Of Revenue [Line Items]
Revenues	75,577	72,018
Services | Western Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	45,536	42,694
Services | Eastern Hemisphere | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	14,332	18,509
Services | Asia Pacific | Operating Segments
Disaggregation Of Revenue [Line Items]
Revenues	$ 15,709	$ 10,815

Revenue Recognition - Contract

Revenue Recognition - Contract Asset and Liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Contract Assets
Contract Assets at December 31, 2019	$ 136,332
Additions	111,828
Transfers to Accounts Receivable	(112,187)
Contract Assets at December 31, 2020	135,973
Contract Liabilities
Contract Liabilities at December 31, 2019	6,901
Contract Liabilities at December 31, 2020	11,339
Other Current Liabilities
Contract Liabilities
Contract Liabilities at December 31, 2019	6,901
Additions	16,393
Revenue Recognized	(12,479)
Contract Liabilities at December 31, 2020	$ 10,815

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Receivables, included in trade receivables	$ 135,973	$ 136,332
Unbilled receivables	140,318	140,534
Performance obligation	58,100
Receivables (Included in Trade Receivables)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Receivables, included in trade receivables	136,000	136,300
Unbilled receivables	$ 96,500	$ 83,200

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Details 1)	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-12-31
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation percentage	70.40%
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation percentage	29.60%
Expected timing of satisfaction period	0 years

Inventories, net - Schedule of

Inventories, net - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 32,833	$ 46,282
Work in progress	44,924	54,171
Finished goods	216,928	175,629
Inventory, gross, Total	294,685	276,082
Less: allowance for slow moving and excess inventory	(82,149)	(71,020)
Total inventory	$ 212,536	$ 205,062

Property, Plant and Equipment_3

Property, Plant and Equipment, net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 604,914	$ 604,332
Less accumulated depreciation	(399,095)	(371,365)
Property, Plant and Equipment Less Accumulated Depreciation	205,819	232,967
Total property, plant and equipment	234,823	258,497
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,379	7,790
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	206,732	213,705
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	390,803	382,837
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,408	12,550
Construction work in process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,596	$ 12,980
Minimum | Land improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Minimum | Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Minimum | Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum | Land improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	25 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Maximum | Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

Property, Plant and Equipment_4

Property, Plant and Equipment, net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 28.7	$ 31	$ 32.8

Restructuring and Other Charg_3

Restructuring and Other Charges - Schedule of Impairment, Restructuring and Other Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring And Related Activities [Abstract]
Inventory write-down	$ 17,272		$ 32,070
Severance	8,462	$ 1,125	7,324
Long-lived asset write-down	8,269		14,902
Exit costs			447
Other	1,377	3,271	5,300
Total impairment, restructuring and other charges	$ 35,380	$ 4,396	$ 60,043

Restructuring and Other Charg_4

Restructuring and Other Charges - Schedule of Accrued Liabilities Related to Restructuring and Others Charges (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring And Related Activities [Abstract]
Additions for costs expensed	$ 8,462
Reductions for payments	(7,316)
Ending balance	$ 1,146

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 7,947,000	$ 7,947,000	$ 7,714,000
Foreign Currency Translation		(247,000)	233,000
Impairments	(7,700,000)	(7,700,000)	0	$ (38,600,000)
Goodwill, Ending balance			7,947,000	7,714,000
Western Hemisphere
Goodwill [Roll Forward]
Goodwill, Beginning balance			0
Impairments				(38,600,000)
Goodwill, Ending balance				0
Eastern Hemisphere
Goodwill [Roll Forward]
Goodwill, Beginning balance	7,947,000	7,947,000	7,714,000
Foreign Currency Translation		(247,000)	233,000
Impairments	$ (7,700,000)	$ (7,700,000)
Goodwill, Ending balance			$ 7,947,000	$ 7,714,000

Goodwill - Additional Informati

Goodwill - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill impairment loss	$ 7,700,000	$ 7,700,000	$ 0	$ 38,600,000
Goodwill			7,947,000	7,714,000
Eastern Hemisphere
Goodwill [Line Items]
Goodwill impairment loss	$ 7,700,000	$ 7,700,000
Goodwill			$ 7,947,000	$ 7,714,000
Percentage fair value in excess of carrying value				71.00%
Western Hemisphere
Goodwill [Line Items]
Goodwill impairment loss				$ 38,600,000
Goodwill				$ 0

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (11,238)	$ (8,165)
Finite-Lived, Foreign Currency Translation	64	176
Indefinite-lived, Gross Book Value	179	172
Indefinite-lived Intangible Assets, Accumulated Amortization	(15)
Indefinite-lived Intangible Assets, Foreign Currency Translation	6	7
Indefinite-lived Intangible, Net Book Value	170	179
Indefinite and Finite-Lived, Gross Book Value	40,608	40,234
Indefinite and Finite-Lived, Net Book Value	$ 29,434	$ 32,245
Trademarks
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years	15 years
Finite-Lived, Gross Book Value	$ 8,238	$ 8,159
Accumulated Amortization	(1,033)	(512)
Finite-Lived, Foreign Currency Translation	(5)	47
Finite-Lived, Net Book Value	7,200	7,694
Patents
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived, Gross Book Value	6,054	5,945
Accumulated Amortization	(2,715)	(2,529)
Finite-Lived, Foreign Currency Translation	(2)
Finite-Lived, Net Book Value	$ 3,337	$ 3,416
Patents | Minimum
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years	15 years
Patents | Maximum
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	30 years	30 years
Customer relationships
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived, Gross Book Value	$ 25,966	$ 25,787
Accumulated Amortization	(7,304)	(4,954)
Finite-Lived, Foreign Currency Translation	65	122
Finite-Lived, Net Book Value	$ 18,727	$ 20,955
Customer relationships | Minimum
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	5 years	5 years
Customer relationships | Maximum
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years	15 years
Non-compete agreements
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	3 years	3 years
Finite-Lived, Gross Book Value	$ 171	$ 171
Accumulated Amortization	$ (171)	(170)
Finite-Lived, Net Book Value		$ 1

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3	$ 2.9	$ 2.4
Amortization expense for 2021	3.1
Amortization expense for 2022	2.8
Amortization expense for 2023	2.8
Amortization expense for 2024	2.8
Amortization expense for 2025	$ 2.8

Leases and Lease Commitments -

Leases and Lease Commitments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019	Dec. 31, 2017
Lessee Lease Description [Line Items]
Cumulative effect of new accounting principle in period of adoption	$ 1,041,528	$ 1,090,701	$ 1,096,162		$ 1,294,461
Operating lease liabilities	1,110	1,314		$ 1,600
Operating lease liabilities, long-term	5,845	3,801		3,900
Lease expense recognize on a straight-line basis	2,200
Lease expense incurred	$ 3,800	$ 3,800	$ 5,400
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-02
Lessee Lease Description [Line Items]
Cumulative effect of new accounting principle in period of adoption				$ 5,500

Leases and Lease Commitments _2

Leases and Lease Commitments - Schedule of Classification of Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Assets
Operating	$ 6,962	$ 5,144
Finance	$ 228	$ 437
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Total lease assets	$ 7,190	$ 5,581
Current
Operating	1,110	1,314	$ 1,600
Finance	$ 141	$ 228
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent	us-gaap:OtherAccruedLiabilitiesCurrent
Noncurrent
Operating	$ 5,845	$ 3,801	$ 3,900
Finance	$ 93	$ 224
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Total lease liabilities	$ 7,189	$ 5,567

Leases and Lease Commitments _3

Leases and Lease Commitments - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessor Lease Description [Line Items]
Total lease cost	$ 3,990	$ 4,203
Selling, General and Administrative
Lessor Lease Description [Line Items]
Operating lease cost	1,617	1,713
Short-term lease costs	2,173	2,104
Amortization of leased assets	186	361
Net Interest Expense
Lessor Lease Description [Line Items]
Interest on lease liabilities	$ 14	$ 25

Leases and Lease Commitments _4

Leases and Lease Commitments - Schedule of Maturity of Lease Obligations (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating Leases
2021	$ 1,376
2022	1,125
2023	870
2024	625
2025	602
After 2025	4,654
Total lease payments	9,252
Less: interest	2,297
Present value of lease liabilities	6,955
Finance Leases
2021	149
2022	54
2023	26
2024	20
Total lease payments	249
Less: interest	15
Present value of lease liabilities	234
Total
2021	1,525
2022	1,179
2023	896
2024	645
2025	602
After 2025	4,654
Total lease payments	9,501
Less: interest	2,312
Present value of lease liabilities	$ 7,189

Leases and Lease Commitments _5

Leases and Lease Commitments - Schedule of Lease Term and Discount Rate for Operating and Finance Leases (Details)	Dec. 31, 2020
Leases [Abstract]
Weighted average remaining lease term, Operating leases	11 years 8 months 12 days
Weighted average remaining lease term, Finance leases	2 years 3 months 18 days
Weighted average discount rate, Operating leases	5.10%
Weighted average discount rate, Finance leases	4.50%

Leases and Lease Commitments _6

Leases and Lease Commitments - Schedule of Other Information Pertaining to Lease Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 1,615	$ 1,737
Operating cash flows from finance leases	16	28
Financing cash flows from finance leases	$ 183	$ 183

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (76,056)	$ (51,041)	$ (120,784)
Foreign	14,007	61,470	5,795
Income (loss) before income taxes	$ (62,049)	$ 10,429	$ (114,989)

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (44,752)	$ (569)	$ (24,366)
Foreign	8,454	8,513	9,163
Total current	(36,298)	7,944	(15,203)
Deferred:
Foreign	5,017	765	(4,091)
Total deferred	5,017	765	(4,091)
Total	$ (31,281)	$ 8,709	$ (19,294)

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 (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal income tax statutory rate	21.00%	21.00%	21.00%
CARES ACT NOL rate differential (2019 and 2020)	32.60
Accrual for undistributed earnings	(5.15)
Foreign income tax rate differential	(1.03%)	16.20%	(0.94%)
Foreign development tax incentive	(0.38%)	(0.91%)	0.24%
Nondeductible goodwill impairment	(2.42%)		(5.21%)
Exempt income	1.25%	(24.02%)	2.32%
Foreign taxes and inclusions (net of FTC)	(9.26%)	21.00%	(1.83%)
Transition tax (net of FTC)			5.80
Nondeductible expenses	(5.35%)	15.51%	(1.03%)
Manufacturing benefit	(7.32%)		(1.18%)
Change in valuation allowance	28.26%	24.96%	(1.99%)
Changes to PY Accruals	(3.15%)	6.28%	(1.17%)
Deferred tax rate change	(0.10%)	(0.36%)	0.66%
Change in Uncertain tax positions	(0.83%)	4.31%	(0.78%)
Interest on net equity			1.02%
General business credits	2.32%	(11.14%)	0.59%
Branch income	(0.31%)	9.64%	(0.66%)
Other	0.28%	1.03%	(0.06%)
Effective tax rate	50.41%	83.50%	16.78%

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Foreign tax credit carryforward	$ 6,549	$ 4,817
Inventory	13,536	17,777
Net operating losses	1,250	18,991
Allowance for doubtful accounts	490	358
Reserve for accrued liabilities	4,029	2,732
Stock options	1,670	2,782
Unrealized gain/loss	1,554	1,862
Disallowed interest carryforward	1,912
Other	1,939	867
Total deferred tax assets	32,929	50,186
Valuation allowance	(17,049)	(34,464)
Deferred tax liabilities:
Property, plant and equipment	(6,048)	(5,757)
Goodwill & Intangibles	(1,903)	(2,092)
Deferred revenue	(3,415)	(1,830)
Reserve for unremitted earnings	(3,608)
Other	(1,917)	(1,257)
Total deferred tax liability	(16,891)	(10,936)
Net deferred tax liability	$ (1,011)
Net deferred tax asset		$ 4,786

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unusual Risk Or Uncertainty [Line Items]
Gross operating loss carryforwards		$ 5,221
Valuation allowance		17,049	$ 34,464
Deferred foreign tax liability		3,608
Uncertain tax positions		18,665	18,665	$ 18,648	$ 18,323
Income tax penalties and interest accrued		2,100	1,600	1,100
Unrecognized tax benefits that would impact effective tax rate		7,300
Income taxes paid		18,200	$ 10,900	$ 3,800
Covid 19
Unusual Risk Or Uncertainty [Line Items]
Effective tax rate, percent	72.00%
Covid 19 | Prepaids and Other Current Assets
Unusual Risk Or Uncertainty [Line Items]
Net operating loss carryback claims		$ 22,000

Income Taxes - Schedule of Oper

Income Taxes - Schedule of Operating Loss Carryforward (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating Loss Carryforwards [Line Items]
Gross operating loss carryforwards	$ 5,221
2021-2026
Operating Loss Carryforwards [Line Items]
Gross operating loss carryforwards	1,466
2027-2033
Operating Loss Carryforwards [Line Items]
Gross operating loss carryforwards	29
2034-2039
Operating Loss Carryforwards [Line Items]
Gross operating loss carryforwards	1,899
Indefinite
Operating Loss Carryforwards [Line Items]
Gross operating loss carryforwards	$ 1,827

Income Taxes - Schedule of Unce

Income Taxes - Schedule of Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward
Beginning balance	$ 18,665	$ 18,648	$ 18,323
Additions for tax positions related to the current year	3
Reductions for tax positions related to the prior year	(3)	17	325
Ending balance	$ 18,665	$ 18,665	$ 18,648

Other Accrued Liabilities - Sch

Other Accrued Liabilities - Schedule of Accrued Liabilities Related to Restructuring and Others Charges (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued vendor costs	$ 10,610	$ 10,289
Property, sales and other taxes	6,014	7,243
Commissions payable	1,065	2,426
Payroll taxes	4,760	2,159
Severance	1,147
Other	2,685	2,124
Total	$ 26,281	$ 24,241

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Postemployment Benefits [Abstract]
Employee benefit plans, contribution expense	$ 2.5	$ 4.1	$ 4.1

Asset Backed Loan (ABL) Credi_2

Asset Backed Loan (ABL) Credit Facility (Details) - ABL Credit Facility - Revolving Credit Facility	Feb. 23, 2018USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt instrument, term	5 years
Total commitments	$ 100,000,000
Amount available for letters of credit (up to)	$ 10,000,000
Fixed charges ratio		1.1
Available borrowing capacity		$ 40,200,000
Letters of credit outstanding		$ 1,000,000
Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
CB Floating Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
CB Floating Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Eurodollar | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Eurodollar | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Brazil $ in Millions	2 Months Ended
	Jan. 31, 2011USD ($)assessment	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)
Commitments And Contingencies [Line Items]
Number of tax assessments | assessment	2
Value of assessments served on Brazilian subsidiary	$ 13
Court deposit		$ 8.8	$ 8.8

Geographic Segments - Schedule

Geographic Segments - Schedule of Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 87,234	$ 91,295	$ 90,446	$ 95,998	$ 108,454	$ 108,227	$ 103,808	$ 94,317	$ 364,973	$ 414,806	$ 384,626
Depreciation and amortization									32,389	34,020	35,312
Income (loss) before taxes									(62,049)	10,429	(114,989)
Total long-lived assets	287,979				326,076				287,979	326,076
Total assets	1,151,172				1,206,565				1,151,172	1,206,565
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									32,389	34,020	35,312
Income (loss) before taxes									(62,049)	10,429	(114,989)
Intercompany
Segment Reporting Information [Line Items]
Revenues									28,474	19,915	17,411
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization									3,727	3,082	2,635
Income (loss) before taxes									(74,321)	(64,800)	(102,538)
Eliminations
Segment Reporting Information [Line Items]
Revenues									(28,474)	(19,915)	(17,411)
Total long-lived assets	(353,939)				(371,938)				(353,939)	(371,938)
Total assets	(584,432)				(526,142)				(584,432)	(526,142)
Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues									258,834	303,279	265,052
Products | Operating Segments | Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenues									137,521	218,330	204,472
Products | Operating Segments | Transferred Over Time
Segment Reporting Information [Line Items]
Revenues									121,313	84,949	60,580
Technical Advisory | Operating Segments
Segment Reporting Information [Line Items]
Revenues									55,292	56,431	56,615
Reconditioning | Operating Segments
Segment Reporting Information [Line Items]
Revenues									20,285	15,587	15,799
Total Services (excluding Leasing) | Operating Segments
Segment Reporting Information [Line Items]
Revenues									75,577	72,018	72,414
Leasing | Operating Segments
Segment Reporting Information [Line Items]
Revenues									30,562	39,509	47,160
Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues									106,139	111,527	119,574
Western Hemisphere
Segment Reporting Information [Line Items]
Revenues									228,350	239,820	249,885
Western Hemisphere | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									19,716	21,737	23,314
Income (loss) before taxes									3,067	19,882	(29,823)
Total long-lived assets	350,577				379,776				350,577	379,776
Total assets	769,649				732,716				769,649	732,716
Western Hemisphere | Intercompany
Segment Reporting Information [Line Items]
Revenues									13,015	12,856	13,343
Western Hemisphere | Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues									151,351	162,067	170,282
Western Hemisphere | Products | Operating Segments | Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenues									79,433	108,006	135,687
Western Hemisphere | Products | Operating Segments | Transferred Over Time
Segment Reporting Information [Line Items]
Revenues									71,918	54,061	34,595
Western Hemisphere | Technical Advisory | Operating Segments
Segment Reporting Information [Line Items]
Revenues									33,431	31,962	29,973
Western Hemisphere | Reconditioning | Operating Segments
Segment Reporting Information [Line Items]
Revenues									12,105	10,733	10,985
Western Hemisphere | Total Services (excluding Leasing) | Operating Segments
Segment Reporting Information [Line Items]
Revenues									45,536	42,695	40,958
Western Hemisphere | Leasing | Operating Segments
Segment Reporting Information [Line Items]
Revenues									18,448	22,202	25,302
Western Hemisphere | Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues									63,984	64,897	66,260
Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenues									80,355	118,184	107,055
Eastern Hemisphere | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									3,820	4,163	4,578
Income (loss) before taxes									3,284	28,045	20,495
Total long-lived assets	222,741				246,854				222,741	246,854
Total assets	779,147				818,803				779,147	818,803
Eastern Hemisphere | Intercompany
Segment Reporting Information [Line Items]
Revenues									2,375	1,267	2,010
Eastern Hemisphere | Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues									56,038	86,057	71,719
Eastern Hemisphere | Products | Operating Segments | Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenues									30,191	65,416	49,216
Eastern Hemisphere | Products | Operating Segments | Transferred Over Time
Segment Reporting Information [Line Items]
Revenues									25,847	20,641	22,503
Eastern Hemisphere | Technical Advisory | Operating Segments
Segment Reporting Information [Line Items]
Revenues									9,489	15,100	16,499
Eastern Hemisphere | Reconditioning | Operating Segments
Segment Reporting Information [Line Items]
Revenues									4,843	3,409	3,188
Eastern Hemisphere | Total Services (excluding Leasing) | Operating Segments
Segment Reporting Information [Line Items]
Revenues									14,332	18,509	19,687
Eastern Hemisphere | Leasing | Operating Segments
Segment Reporting Information [Line Items]
Revenues									7,610	12,351	13,639
Eastern Hemisphere | Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues									21,942	30,860	33,326
Asia-Pacific
Segment Reporting Information [Line Items]
Revenues									84,742	76,717	45,097
Asia-Pacific | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									5,126	5,038	4,785
Income (loss) before taxes									5,921	27,302	(3,123)
Total long-lived assets	68,600				71,384				68,600	71,384
Total assets	$ 186,808				$ 181,188				186,808	181,188
Asia-Pacific | Intercompany
Segment Reporting Information [Line Items]
Revenues									13,084	5,792	2,058
Asia-Pacific | Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues									51,445	55,155	23,051
Asia-Pacific | Products | Operating Segments | Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenues									27,897	44,908	19,569
Asia-Pacific | Products | Operating Segments | Transferred Over Time
Segment Reporting Information [Line Items]
Revenues									23,548	10,247	3,482
Asia-Pacific | Technical Advisory | Operating Segments
Segment Reporting Information [Line Items]
Revenues									12,372	9,369	10,143
Asia-Pacific | Reconditioning | Operating Segments
Segment Reporting Information [Line Items]
Revenues									3,337	1,445	1,626
Asia-Pacific | Total Services (excluding Leasing) | Operating Segments
Segment Reporting Information [Line Items]
Revenues									15,709	10,814	11,769
Asia-Pacific | Leasing | Operating Segments
Segment Reporting Information [Line Items]
Revenues									4,504	4,956	8,219
Asia-Pacific | Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues									$ 20,213	$ 15,770	$ 19,988

Geographic Segments - Additiona

Geographic Segments - Additional Information (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)SegmentLocation	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Concentration Risk [Line Items]
Impairment of inventory and long-lived assets		$ 25,500,000
Goodwill impairment loss	$ 7,700,000	$ 7,700,000	$ 0	$ 38,600,000
Number of geographic segments | Segment		3
Number of headquarter locations | Location		3
B P | Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenue			10.00%	13.00%
Chevron and Affiliated Companies | Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenue		11.00%
Eastern Hemisphere
Concentration Risk [Line Items]
Impairment of inventory and long-lived assets		$ 22,300,000
Goodwill impairment loss	$ 7,700,000	7,700,000
Western Hemisphere
Concentration Risk [Line Items]
Impairment of inventory and long-lived assets		$ 3,200,000
Goodwill impairment loss				$ 38,600,000

Stock Repurchase Plan - Additio

Stock Repurchase Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 26, 2019
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and canceled	$ (25,000)	$ (26,570)	$ (100,000)
2019 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchased authorized amount				$ 100,000
Stock repurchased and canceled (in shares)	808,389	615,940
Average price per share	$ 30.91	$ 43.12
Stock repurchased and canceled	$ 25,000	$ 26,600

Stock-Based Compensation and _3

Stock-Based Compensation and Stock Awards - Stock Options - Additional Information (Details)	May 13, 2004shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	May 12, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (up to) (in shares) | shares		57,625	132,375
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised | $			$ 200,000	$ 700,000
Income tax benefit realized from stock options exercised | $			$ 38,342	$ 157,442
Antidilutive securities (in shares) | shares		108,992	185,000	6,000
Stock-based compensation expense for stock option exercises | $		$ 0	$ 0	$ 0
Capitalized expense | $		0	$ 0	$ 0
Unrecognized compensation expense related to share based compensation | $		$ 0
2004 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative annual increments of the total number of shares	0.25
Outstanding options, expiration date		Oct. 28, 2021
2004 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (up to) (in shares) | shares	2,696,294
Options granted period		10 years
Vesting period (in years)	4 years
2017 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (up to) (in shares) | shares					1,500,000
Granted (in shares) | shares		0

Stock-Based Compensation and _4

Stock-Based Compensation and Stock Awards - Schedule of Option Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Options
Options Outstanding, Beginning Balance (in shares) | shares	132,375
Forfeited (in shares) | shares	(74,750)
Options Outstanding, Ending Balance (in shares) | shares	57,625
Options Exercisable (in shares) | shares	57,625
Weighted Average Price
Weighted Average Price Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 67.85
Forfeited (in dollars per share) | $ / shares	67.40
Weighted Average Price Outstanding, Ending Balance (in dollars per share) | $ / shares	68.43
Weighted Average Price Exercisable (in dollars per share) | $ / shares	$ 68.43
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life Outstanding (in years)	9 months 18 days
Weighted Average Remaining Contractual Life Exercisable (in years)	9 months 18 days

Stock-Based Compensation and _5

Stock-Based Compensation and Stock Awards - Restricted Stock Awards - Additional Information (Details) - Restricted stock awards - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Restricted stock awards compensation expense	$ 7.5	$ 8.6	$ 8.8
Income tax benefit recognized	1.1	$ 2	$ 1.5
Unrecognized compensation expense related to share based compensation	$ 7.2
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 10 months 24 days
Antidilutive securities (in shares)	352,408	46,000	240,000

Stock-Based Compensation and _6

Stock-Based Compensation and Stock Awards - Summary of RSA Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Restricted Stock
Nonvested options, Beginning Balance (in shares) | shares	348,690
Granted (in shares) | shares	340,107
Vested (in shares) | shares	(172,501)
Forfeited (in shares) | shares	(35,520)
Nonvested options, Ending Balance (in shares) | shares	480,776
Weighted Average Remaining Contractual Life (in years)
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 43.16
Granted (in dollars per share) | $ / shares	24.24
Vested (in dollars per share) | $ / shares	42.02
Forfeited (in dollars per share) | $ / shares	42.88
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 30.20

Stock-Based Compensation and _7

Stock-Based Compensation and Stock Awards - Performance Unit Awards - Additional Information (Details) - Performance Unit Awards $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)component$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Oct. 28, 2020$ / shares	Oct. 28, 2019$ / shares	Oct. 28, 2018$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares	$ 23.86	$ 44.53	$ 43.09	$ 32.05	$ 48.47	$ 54.62
Percentage of grant share price (as a percentage)	134.30%	108.90%	126.80%
Number of components companies in the Philadelphia Oil Service Index | component	15
Performance unit compensation expense	$ 4	$ 9.6	$ 4.2
Income tax benefit recognized	0.8	$ 1.9	$ 0.4
Unrecognized compensation expense related to share based compensation	$ 9
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 3 months 18 days
Anti-dilutive performance share units (in shares) | shares	349,014	15,000	169,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participants earning under the term (as a percentage)	0.00%
Maximum
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 _8

Stock-Based Compensation and Stock Awards - Schedule of Assumptions Used in Monte Carlo Simulation (Details) - Performance Unit Awards - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 28, 2020	Oct. 28, 2019	Oct. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility (as a percentage)	50.90%	38.80%	32.60%
Risk-free interest rate (as a percentage)	0.20%	1.70%	2.90%
Grant date price (in dollars per share)	$ 23.86	$ 44.53	$ 43.09	$ 32.05	$ 48.47	$ 54.62

Stock-Based Compensation and _9

Stock-Based Compensation and Stock Awards - Summary of PSA Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Restricted Stock
Nonvested options, Beginning Balance (in shares) | shares	348,690
Granted (in shares) | shares	340,107
Vested (in shares) | shares	(172,501)
Forfeited (in shares) | shares	(35,520)
Nonvested options, Ending Balance (in shares) | shares	480,776
Weighted Average Remaining Contractual Life (in years)
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 43.16
Granted (in dollars per share) | $ / shares	24.24
Vested (in dollars per share) | $ / shares	42.02
Forfeited (in dollars per share) | $ / shares	42.88
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 30.20
Performance Unit Awards
Restricted Stock
Nonvested options, Beginning Balance (in shares) | shares	268,550
Granted (in shares) | shares	264,355
Vested (in shares) | shares	(168,902)
Forfeited (in shares) | shares	(33,036)
Nonvested options, Ending Balance (in shares) | shares	330,967
Weighted Average Remaining Contractual Life (in years)
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 52.81
Granted (in dollars per share) | $ / shares	40.66
Vested (in dollars per share) | $ / shares	54.64
Forfeited (in dollars per share) | $ / shares	53.06
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 42.10

Stock-Based Compensation and_10

Stock-Based Compensation and Stock Awards - Director Stock Compensation Awards - Additional Information (Details) - DSA - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fees in lieu of cash (equal to) (as a percentage)	125.00%
Director stock compensation awards expense		$ 1,464,590	$ 782,125	$ 460,884
Income tax benefit recognized		208,106	$ 58,901	$ 81,879
Unrecognized compensation expense related to share based compensation		$ 957,281
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)		1 year
Antidilutive securities (in shares)		48,676

Stock-Based Compensation and_11

Stock-Based Compensation and Stock Awards - Schedule of DSA Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Restricted Stock
Nonvested options, Beginning Balance (in shares) | shares	348,690
Granted (in shares) | shares	340,107
Vested (in shares) | shares	(172,501)
Nonvested options, Ending Balance (in shares) | shares	480,776
Weighted Average Remaining Contractual Life (in years)
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 43.16
Granted (in dollars per share) | $ / shares	24.24
Vested (in dollars per share) | $ / shares	42.02
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 30.20
DSA
Restricted Stock
Nonvested options, Beginning Balance (in shares) | shares	36,320
Granted (in shares) | shares	58,194
Vested (in shares) | shares	(32,318)
Nonvested options, Ending Balance (in shares) | shares	62,196
Weighted Average Remaining Contractual Life (in years)
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 44.61
Granted (in dollars per share) | $ / shares	29.41
Vested (in dollars per share) | $ / shares	45.16
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 30.18

Stock-Based Compensation and_12

Stock-Based Compensation and Stock Awards - Schedule of Information for Stock Option Plans (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	388,592
Weighted- average exercise price of outstanding options, warrants and rights (in dollars per shares)	$ 68.43
Number of securities remaining available for future issuance under equity compensation plan (in shares)	11,897
Unvested stock and units (in shares)	480,776	348,690
Percentage of achievement of performance conditions	100.00%
Stock options | Stock options(Approved)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	388,592
Weighted- average exercise price of outstanding options, warrants and rights (in dollars per shares)	$ 68.43
Number of securities remaining available for future issuance under equity compensation plan (in shares)	11,897
RSA and DSA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	542,972
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	330,967	268,550

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ (11,254)	$ 14,326	$ (14,142)	$ (19,698)	$ 7,400	$ (1,310)	$ 1,681	$ (6,051)	$ (30,768)	$ 1,720	$ (95,695)
Weighted average basic common shares outstanding									35,260	35,839	37,075
Effect of dilutive securities - stock options and awards										313
Total shares and dilutive securities									35,260	36,152	37,075
Basic income (loss) per common share	$ (0.33)	$ 0.41	$ (0.40)	$ (0.55)	$ 0.21	$ (0.04)	$ 0.05	$ (0.17)	$ (0.87)	$ 0.05	$ (2.58)
Diluted income (loss) per common share	$ (0.33)	$ 0.41	$ (0.40)	$ (0.55)	$ 0.21	$ (0.04)	$ 0.05	$ (0.17)	$ (0.87)	$ 0.05	$ (2.58)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Director stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	49,000	6,000	9,000
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	108,992	185,000	6,000
Performance Unit Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	349,014	15,000	169,000
Restricted stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	352,408	46,000	240,000

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 87,234	$ 91,295	$ 90,446	$ 95,998	$ 108,454	$ 108,227	$ 103,808	$ 94,317	$ 364,973	$ 414,806	$ 384,626
Cost of sales	64,136	67,211	66,937	71,414	75,741	76,023	73,867	69,376	269,698	295,007	293,573
Gross profit	23,098	24,084	23,509	24,584	32,713	32,204	29,941	24,941
Operating income (loss)	(11,628)	(2,104)	(7,505)	(42,322)	6,064	222	2,120	(5,603)	(63,559)	2,803	(122,738)
Net income (loss)	$ (11,254)	$ 14,326	$ (14,142)	$ (19,698)	$ 7,400	$ (1,310)	$ 1,681	$ (6,051)	$ (30,768)	$ 1,720	$ (95,695)
Earnings (loss) per share:
Basic (in dollars per share)	$ (0.33)	$ 0.41	$ (0.40)	$ (0.55)	$ 0.21	$ (0.04)	$ 0.05	$ (0.17)	$ (0.87)	$ 0.05	$ (2.58)
Diluted (in dollars per share)	$ (0.33)	$ 0.41	$ (0.40)	$ (0.55)	$ 0.21	$ (0.04)	$ 0.05	$ (0.17)	$ (0.87)	$ 0.05	$ (2.58)

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful trade receivables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 2,214	$ 5,666	$ 4,519
Charges to costs and expenses	1,876	617	3,794
Recoveries and write offs	(1,935)	(4,069)	(2,647)
Balance at end of period	2,155	2,214	5,666
Allowance for slow moving and excess inventory
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	71,020	108,567	83,566
Charges to costs and expenses	15,595	1,032	34,155
Recoveries and write offs	(4,466)	(38,579)	(9,154)
Balance at end of period	$ 82,149	$ 71,020	$ 108,567