Oil States International (OIS) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 23, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	OIL STATES INTERNATIONAL, INC
Entity Central Index Key	1,121,484
Trading Symbol	ois
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		51,089,350
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Products	$ 67,339	$ 109,312	$ 223,269	$ 323,566
Service	96,709	69,694	263,648	200,944
Revenues	164,048	179,006	486,917	524,510
Costs and expenses:
Product costs	50,593	75,345	160,252	227,855
Service costs	78,596	60,421	219,697	173,125
Selling, general and administrative expense	26,843	30,388	84,055	90,854
Depreciation and amortization expense	26,788	29,848	82,552	89,666
Other operating (income) expense, net	(589)	(1,370)	374	(4,098)
Operating Expenses	182,231	194,632	546,930	577,402
Operating loss	(18,183)	(15,626)	(60,013)	(52,892)
Interest expense	(1,147)	(1,364)	(3,370)	(4,124)
Interest income	73	119	243	321
Other income	207	32	477	462
Loss from continuing operations before income taxes	(19,050)	(16,839)	(62,663)	(56,233)
Income tax benefit	4,019	6,021	15,708	20,474
Net loss from continuing operations	(15,031)	(10,818)	(46,955)	(35,759)
Net loss from discontinued operations, net of tax	0	0	0	(4)
Net loss attributable to Oil States	$ (15,031)	$ (10,818)	$ (46,955)	$ (35,763)
Basic net loss per share attributable to Oil States from:
Continuing operations (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.94)	$ (0.71)
Discontinued operations (in dollars per share)	0	0	0	0
Net loss (in dollars per share)	(0.30)	(0.22)	(0.94)	(0.71)
Diluted net loss per share attributable to Oil States from:
Continuing operations (in dollars per share)	(0.30)	(0.22)	(0.94)	(0.71)
Discontinued operations (in dollars per share)	0	0	0	0
Net loss (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.94)	$ (0.71)
Weighted average number of common shares outstanding:
Basic (in shares)	49,978	50,222	50,190	50,158
Diluted (in shares)	49,978	50,222	50,190	50,158

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (15,031)	$ (10,818)	$ (46,955)	$ (35,763)
Other comprehensive income (loss):
Currency translation adjustments	4,857	(5,217)	13,490	(12,534)
Comprehensive loss attributable to Oil States	$ (10,174)	$ (16,035)	$ (33,465)	$ (48,297)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 65,864	$ 68,800
Accounts receivable, net	210,218	234,513
Inventories, net	173,447	175,490
Prepaid expenses and other current assets	26,464	11,174
Total current assets	475,993	489,977
Property, plant, and equipment, net	508,743	553,402
Goodwill, net	268,917	263,369
Other intangible assets, net	50,105	52,746
Other noncurrent assets	25,597	24,404
Total assets	1,329,355	1,383,898
Current liabilities:
Current portion of long-term debt and capitalized leases	492	538
Accounts payable	44,768	34,207
Accrued liabilities	47,632	45,333
Income taxes payable	1,031	5,839
Deferred revenue	22,588	21,315
Total current liabilities	116,511	107,232
Long-term debt and capitalized leases	19,061	45,388
Deferred income taxes	4,592	5,036
Other noncurrent liabilities	22,914	21,935
Total liabilities	163,078	179,591
Stockholders’ equity:
Common stock, $.01 par value, 200,000,000 shares authorized, 62,721,256 shares and 62,295,870 shares issued, respectively	627	623
Additional paid-in capital	748,581	731,562
Retained earnings	1,086,518	1,133,473
Accumulated other comprehensive loss	(56,810)	(70,300)
Treasury stock, at cost, 11,631,810 and 10,921,509 shares, respectively	(612,639)	(591,051)
Total stockholders’ equity	1,166,277	1,204,307
Total liabilities and stockholders’ equity	$ 1,329,355	$ 1,383,898

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	62,721,256	62,295,870
Treasury stock, shares (in shares)	11,631,810	10,921,509

Unaudited Consolidated Stateme6

Unaudited Consolidated Statement of Stockholders' Equity - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at Dec. 31, 2016	$ 1,204,307	$ 623	$ 731,562	$ 1,133,473	$ (70,300)	$ (591,051)
Increase (Decrease) in Stockholders' Equity
Net loss	(46,955)			(46,955)
Currency translation adjustments (excluding intercompany advances)	12,346				12,346
Currency translation adjustments on intercompany advances	1,144				1,144
Stock-based compensation expense-
Restricted stock	16,047	4	16,043
Stock options	976		976
Stock repurchases	(16,283)					(16,283)
Surrender of stock to pay taxes on restricted stock awards	(5,305)					(5,305)
Balance at Sep. 30, 2017	$ 1,166,277	$ 627	$ 748,581	$ 1,086,518	$ (56,810)	$ (612,639)

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (46,955)	$ (35,763)
Adjustments to reconcile net loss to net cash provided by operating activities:
Loss from discontinued operations	0	4
Depreciation and amortization	82,552	89,666
Stock-based compensation expense	17,023	15,938
Deferred income tax benefit	(2,224)	(28,264)
Provision for bad debt	257	759
Gain on disposals of assets	(526)	(445)
Amortization of deferred financing costs	608	585
Other, net	62	689
Changes in operating assets and liabilities, net of effect from acquired businesses:
Accounts receivable	26,909	68,193
Inventories	5,912	15,600
Accounts payable and accrued liabilities	11,811	(18,588)
Income taxes payable	(4,789)	(2,987)
Other operating assets and liabilities, net	(14,323)	2,392
Net cash flows provided by continuing operating activities	76,317	107,779
Net cash flows used in discontinued operating activities	0	3
Net cash flows provided by operating activities	76,317	107,782
Cash flows from investing activities:
Capital expenditures	(20,331)	(23,893)
Acquisitions of businesses	(12,859)	0
Proceeds from disposition of property, plant and equipment	1,125	1,026
Other, net	(631)	(1,534)
Net cash flows used in investing activities	(32,696)	(24,401)
Cash flows from financing activities:
Revolving credit facility borrowings (repayments), net	(26,578)	(59,731)
Debt and capital lease repayments	(403)	(398)
Purchase of treasury stock	(16,283)	0
Issuance of common stock from stock-based payment arrangements	0	367
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock	(5,305)	(3,950)
Net cash flows used in financing activities	(48,569)	(63,712)
Effect of exchange rate changes on cash and cash equivalents	2,012	(1,852)
Net change in cash and cash equivalents	(2,936)	17,817
Cash and cash equivalents, beginning of period	68,800	35,973
Cash and cash equivalents, end of period	$ 65,864	$ 53,790

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Oil States International, Inc. and its subsidiaries (referred to in this report as “we” or the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”) pertaining to interim financial information. Certain information in footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to these rules and regulations. The unaudited financial statements included in this report reflect all the adjustments, consisting of normal recurring adjustments, which the Company considers necessary for a fair presentation of the results of operations for the interim periods covered and for the financial condition of the Company at the date of the interim balance sheet. Results for the interim periods are not necessarily indicative of results for the full year. The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. If the underlying estimates and assumptions, upon which the financial statements are based, change in future periods, actual amounts may differ from those included in the accompanying condensed consolidated financial statements. Our industry is cyclical and this cyclicality impacts our estimates of the period over which future cash flows will be generated, as well as the predictability of these cash flows including our determination of whether a decline in value of our deferred tax assets, long-lived assets and/or goodwill has occurred. During the first quarter of 2017, we modified the name of our “Offshore Products” segment to the “Offshore/Manufactured Products” segment given the higher proportional weighting of our shorter-cycle manufactured products (much of which is driven by land-based activity) to the total revenues generated by the segment. The Company has also provided supplemental disclosure in Note 12, “Segments and Related Information,” with respect to product and service revenues generated by the Offshore/Manufactured Products segment, including project-driven products, short-cycle products, and other products and services. There have been no operational, reporting or other material changes related to the Offshore/Manufactured Products segment. The financial statements included in this report should be read in conjunction with the Company’s audited financial statements and accompanying notes included in its Annual Report on Form 10-K for the year ended December 31, 2016 (the “ 2016 Form 10‑K”).

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the “FASB”), which are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to receive in exchange for those goods or services. The guidance permits the use of either a full retrospective or modified retrospective transition method. The Company will adopt this guidance on January 1, 2018, using the modified retrospective transition method applied to those contracts which are not completed as of that date. Upon adoption, we will recognize any cumulative effect of adopting this guidance as an adjustment to our opening balance of retained earnings. Prior periods will not be retrospectively adjusted. We have reviewed existing contracts with customers and will continue to review new contracts with certain customers (primarily those related to project-driven products) within our Offshore/Manufactured Products segment to determine the impact, if any, of the standard on such contracts and on our consolidated financial statements through the date of adoption. In accordance with the guidance, we expect to expand our revenue recognition disclosures in 2018 to address the new qualitative and quantitative requirements. In February 2016, the FASB issued guidance on leases which introduces the recognition of lease assets and lease liabilities by lessees for all leases which are not short-term in nature. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. The Company will adopt this guidance on January 1, 2019. Upon initial evaluation, we believe the key change upon adoption will be the balance sheet recognition of our operating leases when we are the lessee. The income statement recognition appears similar to our current methodology. The Company’s future obligations under operating leases as of December 31, 2016 are summarized in Note 14, “Commitments and Contingencies,” in our 2016 Form 10‑K. In March 2016, the FASB issued guidance on employee share-based payment accounting which modifies existing guidance related to the accounting for forfeitures, employer tax withholding on stock-based compensation and the financial statement presentation of excess tax benefits or deficiencies. The Company adopted this guidance on January 1, 2017. Adoption of this standard had no retrospective impact on the Company’s financial statements and the impact on the Company’s income tax benefit during the first nine months of 2017 was not material. In January 2017, the FASB issued guidance which simplifies the test of goodwill impairment. Under the revised standard, the Company will no longer be required to determine the implied fair value of goodwill by assigning the fair value of a reporting unit to its individual assets and liabilities as if that reporting unit had been acquired in a business combination. The revised guidance requires a prospective transition and permits early adoption for interim and annual goodwill impairment tests performed after January 1, 2017. The Company adopted this standard effective January 1, 2017. In January 2017, the FASB issued guidance clarifying the definition of a business to assist entities with evaluating when a group of transferred assets and activities is a business in connection with a business combination. The revised standard provides that if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a set of similar identifiable assets, the group of transferred assets and activities is not a business. The Company adopted this standard effective January 1, 2017.

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	9 Months Ended
	Sep. 30, 2017
Details of Selected Balance Sheet Accounts [Abstract]
Details of Selected Balance Sheet Accounts	Details of Selected Balance Sheet Accounts Additional information regarding selected balance sheet accounts at September 30, 2017 and December 31, 2016 is presented below (in thousands): September 30, December 31, Accounts receivable, net: Trade $ 148,981 $ 173,087 Unbilled revenue 63,585 64,564 Other 5,304 5,372 Total accounts receivable 217,870 243,023 Allowance for doubtful accounts (7,652 ) (8,510 ) $ 210,218 $ 234,513 September 30, December 31, Inventories, net: Finished goods and purchased products $ 86,553 $ 87,241 Work in process 33,865 30,584 Raw materials 68,713 72,514 Total inventories 189,131 190,339 Allowance for excess or obsolete inventory (15,684 ) (14,849 ) $ 173,447 $ 175,490 September 30, December 31, Prepaid expenses and other current assets: Income taxes receivable (see Note 11) $ 17,695 $ 430 Prepayments to vendors 2,826 877 Prepaid non-income taxes 1,857 1,650 Prepaid insurance 267 3,738 Other 3,819 4,479 $ 26,464 $ 11,174 Estimated Useful Life (years) September 30, December 31, Property, plant and equipment, net: Land $ 36,310 $ 31,683 Buildings and leasehold improvements 3 – 40 231,824 227,642 Machinery and equipment 2 – 28 466,609 455,873 Completion services equipment 2 – 10 426,726 429,845 Office furniture and equipment 3 – 10 44,401 42,827 Vehicles 2 – 10 119,336 121,317 Construction in progress 34,011 27,519 Total property, plant and equipment 1,359,217 1,336,706 Accumulated depreciation (850,474 ) (783,304 ) $ 508,743 $ 553,402 September 30, December 31, Other noncurrent assets: Deferred compensation plan $ 19,875 $ 18,772 Deferred income taxes 418 120 Other 5,304 5,512 $ 25,597 $ 24,404 September 30, December 31, Accrued liabilities: Accrued compensation $ 22,540 $ 23,131 Insurance liabilities 7,734 8,099 Accrued taxes, other than income taxes 7,099 2,461 Accrued leasehold restoration liability 831 766 Accrued product warranty reserves 743 1,113 Accrued commissions 1,514 1,305 Accrued claims 1,288 1,578 Other 5,883 6,880 $ 47,632 $ 45,333

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, reported as a component of stockholders’ equity, decreased from $70.3 million at December 31, 2016 to $56.8 million at September 30, 2017 , due to changes in currency exchange rates. Accumulated other comprehensive loss is primarily related to fluctuations in the currency exchange rates compared to the U.S. dollar which are used to translate certain of the international operations of our reportable segments. For the nine months ended September 30, 2017 and 2016 , currency translation adjustments recognized as a component of other comprehensive income (loss) were primarily attributable to the United Kingdom and Brazil. As of September 30, 2017 , the exchange rates for the British pound and the Brazilian real compared to the U.S. dollar strengthened by 8% and 3% , respectively, compared to the exchange rates at December 31, 2016 , contributing to other comprehensive income of $13.5 million reported for the nine months ended September 30, 2017 . During the first nine months of 2016 , the exchange rates for the British pound weakened by 12% compared to the U.S. dollar, while the Brazilian real strengthened by 22% compared to the U.S. dollar during the same period, contributing to other comprehensive loss of $12.5 million .

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The table below provides a reconciliation of the numerators and denominators of basic and diluted net loss per share for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Numerators: Net loss from continuing operations $ (15,031 ) $ (10,818 ) $ (46,955 ) $ (35,759 ) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share from continuing operations (15,031 ) (10,818 ) (46,955 ) (35,759 ) Net loss from discontinued operations, net of tax — — — (4 ) Numerator for basic net loss per share attributable to Oil States (15,031 ) (10,818 ) (46,955 ) (35,763 ) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share attributable to Oil States $ (15,031 ) $ (10,818 ) $ (46,955 ) $ (35,763 ) Denominators: Weighted average number of common shares outstanding 51,089 51,354 51,310 51,287 Less: Weighted average number of unvested restricted stock awards outstanding (1,111 ) (1,132 ) (1,120 ) (1,129 ) Denominator for basic net loss per share attributable to Oil States 49,978 50,222 50,190 50,158 Effect of dilutive securities: Unvested restricted stock awards — — — — Assumed exercise of stock options — — — — — — — — Denominator for diluted net loss per share attributable to Oil States 49,978 50,222 50,190 50,158 Basic net loss per share attributable to Oil States from: Continuing operations $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Discontinued operations — — — — Net loss $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Diluted net loss per share attributable to Oil States from: Continuing operations $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Discontinued operations — — — — Net loss $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) The calculation of diluted net loss per share for the three and nine months ended September 30, 2017 excluded 701 thousand shares and 712 thousand shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards, due to their antidilutive effect. The calculation of diluted net loss per share for the three and nine months ended September 30, 2016 excluded 745 thousand shares and 755 thousand shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards, due to their antidilutive effect.

Business Acquisitions and Goodw

Business Acquisitions and Goodwill	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Business Acquisitions and Goodwill	Business Acquisitions and Goodwill In January 2017, our Offshore/Manufactured Products segment acquired the intellectual property and assets of complementary product lines to our global crane manufacturing and service operations. The acquisition included adding active heave compensation technology and knuckle-boom crane designs to our existing portfolio. In April 2017, our Offshore/Manufactured Products segment acquired assets and intellectual property that are complementary to our riser testing, inspection and repair service offerings. This complimentary technology allows the segment to provide automated inspection techniques either on board an offshore vessel or on the quayside, without the requirements to transport to a facility to remove the buoyancy materials. Using cash on hand, consideration paid in connection with these transactions totaled $12.9 million , which was allocated to the net assets acquired, including intangibles and goodwill. While no material adjustments are anticipated, the Company’s allocations of purchase price are preliminary and subject to change primarily based on the final determination of the fair values of intangible assets acquired. Changes in the carrying amount of goodwill for the nine month period ended September 30, 2017 were as follows (in thousands): Well Site Services Completion Drilling Subtotal Offshore / Total Balance as of December 31, 2016 Goodwill $ 199,278 $ 22,767 $ 222,045 $ 158,619 $ 380,664 Accumulated impairment losses (94,528 ) (22,767 ) (117,295 ) — (117,295 ) 104,750 — 104,750 158,619 263,369 Goodwill acquired — — — 4,698 4,698 Foreign currency translation 353 — 353 497 850 Balance as of September 30, 2017 $ 105,103 $ — $ 105,103 $ 163,814 $ 268,917 Balance as of September 30, 2017 Goodwill $ 199,631 $ 22,767 $ 222,398 $ 163,814 $ 386,212 Accumulated impairment losses (94,528 ) (22,767 ) (117,295 ) — (117,295 ) $ 105,103 $ — $ 105,103 $ 163,814 $ 268,917

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt As of September 30, 2017 and December 31, 2016 , long-term debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility (1) $ 14,260 $ 40,230 Capital lease obligations and other debt 5,293 5,696 Total debt 19,553 45,926 Less: Current portion (492 ) (538 ) Total long-term debt and capitalized leases $ 19,061 $ 45,388 (1) Amounts presented are net of $1.4 million and $2.0 million , respectively, of unamortized debt issuance costs. Revolving Credit Facility The Company has a $600 million senior secured revolving credit facility (the “Revolving Credit Facility”) with an option to increase the maximum borrowings to $750 million subject to additional lender commitments prior to its maturity on May 28, 2019. As of September 30, 2017 , we had $15.6 million outstanding under the Credit Agreement (as defined below) and an additional $21.6 million of outstanding letters of credit, leaving $146.5 million available to be drawn under the Revolving Credit Facility. As of September 30, 2017 , amounts available to be drawn under the Revolving Credit Facility plus cash and cash equivalents totaled $212.4 million . The total amount available to be drawn was less than the lender commitments as of September 30, 2017 , due to the maximum leverage ratio covenant in the Credit Agreement which serves to limit borrowings. We expect our availability to continue to be limited by the maximum leverage ratio covenant during the remainder of 2017 and into 2018 based upon our forecast of our trailing twelve-month EBITDA (as defined in the Credit Agreement and further discussed below). The Revolving Credit Facility is governed by a Credit Agreement dated as of May 28, 2014, as amended, (the “Credit Agreement”) by and among the Company, the Lenders party thereto, Wells Fargo Bank, N.A., as administrative agent, the Swing Line Lender and an Issuing Bank, and Royal Bank of Canada, as Syndication agent, and Compass Bank, as Documentation agent. Amounts outstanding under the Revolving Credit Facility bear interest at LIBOR plus a margin of 1.50% to 2.50% , or at a base rate plus a margin of 0.50% to 1.50% , in each case based on a ratio of the Company’s total leverage to EBITDA. During the first nine months of 2017 , our applicable margin over LIBOR was 1.50% . We must also pay a quarterly commitment fee, based on our leverage ratio, on the unused commitments under the Credit Agreement. The unused commitment fee was 0.375% during the first nine months of 2017 . The Credit Agreement contains customary financial covenants and restrictions. Specifically, we must maintain an interest coverage ratio, defined as the ratio of consolidated EBITDA to consolidated interest expense, of at least 3.0 to 1.0 and a maximum leverage ratio, defined as the ratio of total debt to consolidated EBITDA, of no greater than 3.25 to 1.0. Each of the factors considered in the calculations of these ratios are defined in the Credit Agreement. EBITDA and consolidated interest, as defined, exclude goodwill impairments, losses on extinguishment of debt, debt discount amortization, and other non-cash charges. As of September 30, 2017 , we were in compliance with our debt covenants. Borrowings under the Credit Agreement are secured by a pledge of substantially all of our assets and the assets of our domestic subsidiaries. Our obligations under the Credit Agreement are guaranteed by our significant domestic subsidiaries. The Revolving Credit Facility also contains negative covenants that limit the Company's ability to borrow additional funds, encumber assets, pay dividends, sell assets and enter into other significant transactions. Under the Credit Agreement, the occurrence of specified change of control events involving our Company would constitute an event of default that would permit the banks to, among other things, accelerate the maturity of the facility and cause it to become immediately due and payable in full.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist of cash and cash equivalents, investments, receivables, payables, bank debt and foreign currency forward contracts. The Company believes that the carrying values of these instruments on the accompanying consolidated balance sheets approximate their fair values.

Changes in Common Stock Outstan

Changes in Common Stock Outstanding	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Changes in Common Stock Outstanding	Changes in Common Stock Outstanding Shares of common stock outstanding – December 31, 2016 51,374,361 Restricted stock awards, net of forfeitures 425,386 Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury (148,536 ) Purchase of treasury stock (561,765 ) Shares of common stock outstanding – September 30, 2017 51,089,446 On July 29, 2015 , the Company’s Board of Directors approved a new share repurchase program providing for the repurchase of up to $150.0 million of the Company’s common stock, which, following extension, was scheduled to expire on July 29, 2017. On July 26, 2017 , our Board of Directors extended the share repurchase program for one year to July 29, 2018. During the first nine months of 2017 , the Company repurchased 562 thousand shares of common stock under the program at a total cost of $16.3 million . The amount remaining under our share repurchase authorization as of September 30, 2017 was $120.5 million . Subject to applicable securities laws, such purchases will be at such times and in such amounts as the Company deems appropriate.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation The following table presents a summary of activity for stock options, service-based restricted stock awards and performance-based stock unit awards for the nine months ended September 30, 2017 . Stock Options Service-based Performance-based Outstanding at December 31, 2016 715,095 1,140,489 157,925 Granted — 475,432 74,758 Restricted stock awards vested — (466,304 ) — Forfeited (21,818 ) (50,046 ) — Outstanding at September 30, 2017 693,277 1,099,571 232,683 Weighted average grant date fair value (2017 awards) $ — $ 39.50 $ 62.66 The restricted stock program consists of a combination of service-based restricted stock and performance-based stock units. The service-based restricted stock awards generally vest on a straight-line basis over their term, which is generally three to four years . The number of performance-based restricted shares ultimately issued under the program is dependent upon our achievement of a predefined specific performance measures generally measured over a three -year period. In the event the predefined targets are exceeded for any performance-based award, additional shares up to a maximum of 200% of the target award may be granted. Conversely, if actual performance falls below the predefined target, the number of shares vested is reduced. If the actual performance falls below the threshold performance level, no restricted shares will vest. The performance measure for the 2017 and 2016 awards is relative total stockholder return compared to our peer group of companies while the performance measure specified for the 2015 awards was average after-tax return on invested capital. Currently, it is unlikely that the 2015 performance measure threshold will be met which would result in a performance award forfeiture of approximately 80 thousand units in the fourth quarter of 2017 . Stock-based compensation pre-tax expense recognized in the three-month periods ended September 30, 2017 and 2016 totaled $6.1 million and $5.4 million , respectively. Stock-based compensation pre-tax expense recognized in the nine month periods ended September 30, 2017 and 2016 totaled $17.1 million and $15.9 million , respectively. As of September 30, 2017 , there was $33.7 million of pre-tax compensation costs related to service-based and performance-based stock awards and unvested stock options, which will be recognized in future periods as vesting conditions are satisfied.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision for interim periods is based on estimates of the effective tax rate for the entire fiscal year. The Company’s income tax provision for the three and nine months ended September 30, 2017 was an income tax benefit of $4.0 million , or 21.1% of pre-tax losses, and $15.7 million , or 25.1% of pre-tax losses, respectively. This compares to an income tax benefit of $6.0 million , or 35.8% of pre-tax losses, and $20.5 million , or 36.4% of pre-tax losses, respectively, for the three and nine months ended September 30, 2016 . The lower effective tax rate benefit in the first nine months of 2017 was primarily attributable to a shift in the mix between domestic pre-tax losses and foreign pre-tax income compared to the prior-year period, additional valuation allowances provided against net operating losses in certain domestic and foreign jurisdictions, and incremental tax expense related to our decision to carryback certain U.S. net operating losses discussed below. During the third quarter of 2017, the Company decided to carryback 2016 and 2017 U.S. net operating losses to prior years. The Company plans to file carryback claims against prior year U.S. federal income tax returns and has recorded related income taxes receivable totaling $16.6 million . Such amounts have been classified within prepaid expenses and other current assets as of September 30, 2017. The effect of the carryback will result in the loss of certain previously claimed tax deductions. As a result, the Company recorded a discrete tax charge of $1.0 million in the third quarter of 2017, thereby reducing the effective tax rate benefit. The Company records a valuation allowance in each reporting period when management believes that it is more likely than not that any deferred tax asset will not be realized. This assessment requires analysis of available positive and negative evidence, including losses incurred in recent years, reversals of temporary differences, forecasts of future income, assessment of future business assumptions and tax planning strategies. During 2016 and the first nine months of 2017 , we recorded valuation allowances with respect to net operating loss carryforwards of certain of our domestic and foreign operations. Future increases in our valuation allowances are possible if our estimates and assumptions (particularly as they relate to our forecasts) are revised such that they reduce estimates of future taxable income during the carryforward period.

Segments and Related Informatio

Segments and Related Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segments and Related Information	Segments and Related Information The Company operates through two reportable segments: Well Site Services and Offshore/Manufactured Products. The Company’s reportable segments represent strategic business units that offer different products and services. They are managed separately because each business requires different technologies and marketing strategies. Acquisitions have been direct extensions to our business segments. Separate business lines within the Well Site Services segment have been disclosed to provide additional information for that segment. Our Well Site Services segment provides a broad range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle. In this segment, our operations primarily include completion-focused equipment and services as well as land drilling services. Our Completion Services operations provide solutions to our customers using our completion tools and highly-trained personnel throughout our service offerings which include: wireline support, frac stacks, isolations tools, extended reach tools, ball launchers, well testing operations, thru tubing activity and sand control. Drilling Services provides land drilling services for shallow to medium depth wells in West Texas and the Rocky Mountain region of the United States. Our Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. Driven principally by longer-term customer investments for offshore oil and natural gas projects, “project-driven product” revenues include: flexible bearings, advanced connector systems, high-pressure riser systems, deepwater mooring systems, cranes, subsea pipeline products and blow-out preventer stack integration. “Short-cycle products” manufactured by the segment include: valves, elastomers and other specialty products generally used in the land-based drilling and completion markets. “Other products,” manufactured and offered by the segment, include a variety of products for use in industrial, military and other applications outside the oil and gas industry. The segment also offers a broad line of complementary, value-added services including: specialty welding, fabrication, cladding and machining services, offshore installation services, and inspection and repair services. Financial information by business segment for the three and nine months ended September 30, 2017 and 2016 is summarized as follows (in thousands). Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Three months ended September 30, 2017 Well Site Services – Completion Services $ 61,015 $ 15,679 $ (9,933 ) $ — $ 2,447 $ 427,207 Drilling Services 16,162 4,454 (3,235 ) — 1,693 74,991 Total Well Site Services 77,177 20,133 (13,168 ) — 4,140 502,198 Offshore/Manufactured Products 86,871 6,404 7,334 (33 ) 2,846 782,651 Corporate — 251 (12,349 ) — 54 44,506 Total $ 164,048 $ 26,788 $ (18,183 ) $ (33 ) $ 7,040 $ 1,329,355 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Three months ended September 30, 2016 Well Site Services – Completion Services $ 38,975 $ 17,230 $ (20,450 ) $ — $ 2,365 $ 475,139 Drilling Services 7,375 5,629 (5,641 ) — 249 82,683 Total Well Site Services 46,350 22,859 (26,091 ) — 2,614 557,822 Offshore/Manufactured Products 132,656 6,712 22,867 (77 ) 2,502 851,819 Corporate — 277 (12,402 ) — 379 25,486 Total $ 179,006 $ 29,848 $ (15,626 ) $ (77 ) $ 5,495 $ 1,435,127 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Nine months ended September 30, 2017 Well Site Services – Completion Services $ 167,577 $ 48,400 $ (38,960 ) $ — $ 8,560 $ 427,207 Drilling Services 39,120 14,283 (11,239 ) — 2,800 74,991 Total Well Site Services 206,697 62,683 (50,199 ) — 11,360 502,198 Offshore/Manufactured Products 280,220 19,091 27,460 (62 ) 8,775 782,651 Corporate — 778 (37,274 ) — 196 44,506 Total $ 486,917 $ 82,552 $ (60,013 ) $ (62 ) $ 20,331 $ 1,329,355 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Nine months ended September 30, 2016 Well Site Services – Completion Services $ 116,748 $ 52,789 $ (66,251 ) $ — $ 9,032 $ 475,139 Drilling Services 14,016 18,053 (19,697 ) — 748 82,683 Total Well Site Services 130,764 70,842 (85,948 ) — 9,780 557,822 Offshore/Manufactured Products 393,746 17,977 67,854 (196 ) 13,476 851,819 Corporate — 847 (34,798 ) — 637 25,486 Total $ 524,510 $ 89,666 $ (52,892 ) $ (196 ) $ 23,893 $ 1,435,127 The Company has one customer whose revenue individually represented 16% and 15% of the Company’s consolidated product and service revenue for the three and nine months ended September 30, 2017 , respectively, and whose receivables individually represented 12% of the Company’s consolidated total accounts receivable as of September 30, 2017 . The following table provides supplemental revenue information for the Offshore/Manufactured Products segment for the three and nine months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Project-driven products $ 22,698 $ 76,541 $ 89,615 $ 234,440 Short-cycle products 37,781 23,766 110,872 63,033 Other products and services 26,392 32,349 79,733 96,273 $ 86,871 $ 132,656 $ 280,220 $ 393,746

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of conducting our business, we become involved in litigation and other claims from private party actions, as well as judicial and administrative proceedings involving governmental authorities at the federal, state and local levels. Over recent years, a number of lawsuits were filed in Federal Court, against the Company and or one of its subsidiaries, by current and former employees alleging violations of the Fair Labor Standards Act (“FLSA”). The plaintiffs seek damages and penalties for the Company’s alleged failure to: properly classify its field service employees as “non-exempt” under the FLSA; and pay them on an hourly basis (including overtime). The plaintiffs are seeking recovery on their own behalf as well as on behalf of a class of similarly situated employees. Settlement of the class action against the Company was approved, and a judgment was entered November 19, 2015. The Company has settled the vast majority of these claims and is evaluating potential settlements for the remaining individual plaintiffs’ claims which are not expected to be significant. We are a party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning our commercial operations, products, employees and other matters, including occasional claims by individuals alleging exposure to hazardous materials as a result of our products or operations. Some of these claims relate to matters occurring prior to our acquisition of businesses, and some relate to businesses we have sold. In certain cases, we are entitled to indemnification from the sellers of businesses and, in other cases, we have indemnified the buyers of businesses from us. Although we can give no assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on us, we believe that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by indemnity or insurance, will not have a material adverse effect on our consolidated financial position, results of operations or liquidity.

Recent Accounting Pronounceme21

Recent Accounting Pronouncements Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the “FASB”), which are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to receive in exchange for those goods or services. The guidance permits the use of either a full retrospective or modified retrospective transition method. The Company will adopt this guidance on January 1, 2018, using the modified retrospective transition method applied to those contracts which are not completed as of that date. Upon adoption, we will recognize any cumulative effect of adopting this guidance as an adjustment to our opening balance of retained earnings. Prior periods will not be retrospectively adjusted. We have reviewed existing contracts with customers and will continue to review new contracts with certain customers (primarily those related to project-driven products) within our Offshore/Manufactured Products segment to determine the impact, if any, of the standard on such contracts and on our consolidated financial statements through the date of adoption. In accordance with the guidance, we expect to expand our revenue recognition disclosures in 2018 to address the new qualitative and quantitative requirements. In February 2016, the FASB issued guidance on leases which introduces the recognition of lease assets and lease liabilities by lessees for all leases which are not short-term in nature. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. The Company will adopt this guidance on January 1, 2019. Upon initial evaluation, we believe the key change upon adoption will be the balance sheet recognition of our operating leases when we are the lessee. The income statement recognition appears similar to our current methodology. The Company’s future obligations under operating leases as of December 31, 2016 are summarized in Note 14, “Commitments and Contingencies,” in our 2016 Form 10‑K. In March 2016, the FASB issued guidance on employee share-based payment accounting which modifies existing guidance related to the accounting for forfeitures, employer tax withholding on stock-based compensation and the financial statement presentation of excess tax benefits or deficiencies. The Company adopted this guidance on January 1, 2017. Adoption of this standard had no retrospective impact on the Company’s financial statements and the impact on the Company’s income tax benefit during the first nine months of 2017 was not material. In January 2017, the FASB issued guidance which simplifies the test of goodwill impairment. Under the revised standard, the Company will no longer be required to determine the implied fair value of goodwill by assigning the fair value of a reporting unit to its individual assets and liabilities as if that reporting unit had been acquired in a business combination. The revised guidance requires a prospective transition and permits early adoption for interim and annual goodwill impairment tests performed after January 1, 2017. The Company adopted this standard effective January 1, 2017. In January 2017, the FASB issued guidance clarifying the definition of a business to assist entities with evaluating when a group of transferred assets and activities is a business in connection with a business combination. The revised standard provides that if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a set of similar identifiable assets, the group of transferred assets and activities is not a business. The Company adopted this standard effective January 1, 2017.

Details of Selected Balance S22

Details of Selected Balance Sheet Accounts (Tables)	9 Months Ended
	Sep. 30, 2017
Details of Selected Balance Sheet Accounts [Abstract]
Schedule of Accounts Receivable, Net	September 30, December 31, Accounts receivable, net: Trade $ 148,981 $ 173,087 Unbilled revenue 63,585 64,564 Other 5,304 5,372 Total accounts receivable 217,870 243,023 Allowance for doubtful accounts (7,652 ) (8,510 ) $ 210,218 $ 234,513
Schedule of Inventory, Net	September 30, December 31, Inventories, net: Finished goods and purchased products $ 86,553 $ 87,241 Work in process 33,865 30,584 Raw materials 68,713 72,514 Total inventories 189,131 190,339 Allowance for excess or obsolete inventory (15,684 ) (14,849 ) $ 173,447 $ 175,490
Schedule of Prepaid Expenses and Other Current Assets	September 30, December 31, Prepaid expenses and other current assets: Income taxes receivable (see Note 11) $ 17,695 $ 430 Prepayments to vendors 2,826 877 Prepaid non-income taxes 1,857 1,650 Prepaid insurance 267 3,738 Other 3,819 4,479 $ 26,464 $ 11,174
Schedule of Property, Plant and Equipment, Net	Estimated Useful Life (years) September 30, December 31, Property, plant and equipment, net: Land $ 36,310 $ 31,683 Buildings and leasehold improvements 3 – 40 231,824 227,642 Machinery and equipment 2 – 28 466,609 455,873 Completion services equipment 2 – 10 426,726 429,845 Office furniture and equipment 3 – 10 44,401 42,827 Vehicles 2 – 10 119,336 121,317 Construction in progress 34,011 27,519 Total property, plant and equipment 1,359,217 1,336,706 Accumulated depreciation (850,474 ) (783,304 ) $ 508,743 $ 553,402
Schedule of Other Noncurrent Assets	September 30, December 31, Other noncurrent assets: Deferred compensation plan $ 19,875 $ 18,772 Deferred income taxes 418 120 Other 5,304 5,512 $ 25,597 $ 24,404
Schedule of Accrued Liabilities	September 30, December 31, Accrued liabilities: Accrued compensation $ 22,540 $ 23,131 Insurance liabilities 7,734 8,099 Accrued taxes, other than income taxes 7,099 2,461 Accrued leasehold restoration liability 831 766 Accrued product warranty reserves 743 1,113 Accrued commissions 1,514 1,305 Accrued claims 1,288 1,578 Other 5,883 6,880 $ 47,632 $ 45,333

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below provides a reconciliation of the numerators and denominators of basic and diluted net loss per share for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Numerators: Net loss from continuing operations $ (15,031 ) $ (10,818 ) $ (46,955 ) $ (35,759 ) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share from continuing operations (15,031 ) (10,818 ) (46,955 ) (35,759 ) Net loss from discontinued operations, net of tax — — — (4 ) Numerator for basic net loss per share attributable to Oil States (15,031 ) (10,818 ) (46,955 ) (35,763 ) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share attributable to Oil States $ (15,031 ) $ (10,818 ) $ (46,955 ) $ (35,763 ) Denominators: Weighted average number of common shares outstanding 51,089 51,354 51,310 51,287 Less: Weighted average number of unvested restricted stock awards outstanding (1,111 ) (1,132 ) (1,120 ) (1,129 ) Denominator for basic net loss per share attributable to Oil States 49,978 50,222 50,190 50,158 Effect of dilutive securities: Unvested restricted stock awards — — — — Assumed exercise of stock options — — — — — — — — Denominator for diluted net loss per share attributable to Oil States 49,978 50,222 50,190 50,158 Basic net loss per share attributable to Oil States from: Continuing operations $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Discontinued operations — — — — Net loss $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Diluted net loss per share attributable to Oil States from: Continuing operations $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 ) Discontinued operations — — — — Net loss $ (0.30 ) $ (0.22 ) $ (0.94 ) $ (0.71 )

Business Acquisitions and Goo24

Business Acquisitions and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine month period ended September 30, 2017 were as follows (in thousands): Well Site Services Completion Drilling Subtotal Offshore / Total Balance as of December 31, 2016 Goodwill $ 199,278 $ 22,767 $ 222,045 $ 158,619 $ 380,664 Accumulated impairment losses (94,528 ) (22,767 ) (117,295 ) — (117,295 ) 104,750 — 104,750 158,619 263,369 Goodwill acquired — — — 4,698 4,698 Foreign currency translation 353 — 353 497 850 Balance as of September 30, 2017 $ 105,103 $ — $ 105,103 $ 163,814 $ 268,917 Balance as of September 30, 2017 Goodwill $ 199,631 $ 22,767 $ 222,398 $ 163,814 $ 386,212 Accumulated impairment losses (94,528 ) (22,767 ) (117,295 ) — (117,295 ) $ 105,103 $ — $ 105,103 $ 163,814 $ 268,917

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2017 and December 31, 2016 , long-term debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility (1) $ 14,260 $ 40,230 Capital lease obligations and other debt 5,293 5,696 Total debt 19,553 45,926 Less: Current portion (492 ) (538 ) Total long-term debt and capitalized leases $ 19,061 $ 45,388 (1) Amounts presented are net of $1.4 million and $2.0 million , respectively, of unamortized debt issuance costs.

Changes in Common Stock Outst26

Changes in Common Stock Outstanding (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of Common Stock Outstanding Roll Forward	Shares of common stock outstanding – December 31, 2016 51,374,361 Restricted stock awards, net of forfeitures 425,386 Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury (148,536 ) Purchase of treasury stock (561,765 ) Shares of common stock outstanding – September 30, 2017 51,089,446

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	The following table presents a summary of activity for stock options, service-based restricted stock awards and performance-based stock unit awards for the nine months ended September 30, 2017 . Stock Options Service-based Performance-based Outstanding at December 31, 2016 715,095 1,140,489 157,925 Granted — 475,432 74,758 Restricted stock awards vested — (466,304 ) — Forfeited (21,818 ) (50,046 ) — Outstanding at September 30, 2017 693,277 1,099,571 232,683 Weighted average grant date fair value (2017 awards) $ — $ 39.50 $ 62.66

Segments and Related Informat28

Segments and Related Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by business segment for the three and nine months ended September 30, 2017 and 2016 is summarized as follows (in thousands). Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Three months ended September 30, 2017 Well Site Services – Completion Services $ 61,015 $ 15,679 $ (9,933 ) $ — $ 2,447 $ 427,207 Drilling Services 16,162 4,454 (3,235 ) — 1,693 74,991 Total Well Site Services 77,177 20,133 (13,168 ) — 4,140 502,198 Offshore/Manufactured Products 86,871 6,404 7,334 (33 ) 2,846 782,651 Corporate — 251 (12,349 ) — 54 44,506 Total $ 164,048 $ 26,788 $ (18,183 ) $ (33 ) $ 7,040 $ 1,329,355 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Three months ended September 30, 2016 Well Site Services – Completion Services $ 38,975 $ 17,230 $ (20,450 ) $ — $ 2,365 $ 475,139 Drilling Services 7,375 5,629 (5,641 ) — 249 82,683 Total Well Site Services 46,350 22,859 (26,091 ) — 2,614 557,822 Offshore/Manufactured Products 132,656 6,712 22,867 (77 ) 2,502 851,819 Corporate — 277 (12,402 ) — 379 25,486 Total $ 179,006 $ 29,848 $ (15,626 ) $ (77 ) $ 5,495 $ 1,435,127 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Nine months ended September 30, 2017 Well Site Services – Completion Services $ 167,577 $ 48,400 $ (38,960 ) $ — $ 8,560 $ 427,207 Drilling Services 39,120 14,283 (11,239 ) — 2,800 74,991 Total Well Site Services 206,697 62,683 (50,199 ) — 11,360 502,198 Offshore/Manufactured Products 280,220 19,091 27,460 (62 ) 8,775 782,651 Corporate — 778 (37,274 ) — 196 44,506 Total $ 486,917 $ 82,552 $ (60,013 ) $ (62 ) $ 20,331 $ 1,329,355 Revenues Depreciation and Operating (loss) income Equity in Capital Total assets Nine months ended September 30, 2016 Well Site Services – Completion Services $ 116,748 $ 52,789 $ (66,251 ) $ — $ 9,032 $ 475,139 Drilling Services 14,016 18,053 (19,697 ) — 748 82,683 Total Well Site Services 130,764 70,842 (85,948 ) — 9,780 557,822 Offshore/Manufactured Products 393,746 17,977 67,854 (196 ) 13,476 851,819 Corporate — 847 (34,798 ) — 637 25,486 Total $ 524,510 $ 89,666 $ (52,892 ) $ (196 ) $ 23,893 $ 1,435,127
Revenue from External Customers by Products and Services	The following table provides supplemental revenue information for the Offshore/Manufactured Products segment for the three and nine months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Project-driven products $ 22,698 $ 76,541 $ 89,615 $ 234,440 Short-cycle products 37,781 23,766 110,872 63,033 Other products and services 26,392 32,349 79,733 96,273 $ 86,871 $ 132,656 $ 280,220 $ 393,746

Details of Selected Balance S29

Details of Selected Balance Sheet Accounts - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 217,870	$ 243,023
Allowance for doubtful accounts	(7,652)	(8,510)
Accounts receivable, net	210,218	234,513
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	148,981	173,087
Unbilled revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	63,585	64,564
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 5,304	$ 5,372

Details of Selected Balance S30

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Details of Selected Balance Sheet Accounts [Abstract]
Finished goods and purchased products	$ 86,553	$ 87,241
Work in process	33,865	30,584
Raw materials	68,713	72,514
Total inventories	189,131	190,339
Allowance for excess or obsolete inventory	(15,684)	(14,849)
Inventories, net	$ 173,447	$ 175,490

Details of Selected Balance S31

Details of Selected Balance Sheet Accounts - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Details of Selected Balance Sheet Accounts [Abstract]
Income taxes receivable	$ 17,695	$ 430
Prepayments to vendors	2,826	877
Prepaid non-income taxes	1,857	1,650
Prepaid insurance	267	3,738
Other	3,819	4,479
Prepaid expenses and other current assets	$ 26,464	$ 11,174

Details of Selected Balance S32

Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,359,217	$ 1,336,706
Accumulated depreciation	(850,474)	(783,304)
Property, plant, and equipment, net	508,743	553,402
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	36,310	31,683
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 231,824	227,642
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 466,609	455,873
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	28 years
Completion services equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 426,726	429,845
Completion services equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Completion services equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 44,401	42,827
Office furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Office furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 119,336	121,317
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 34,011	$ 27,519

Details of Selected Balance S33

Details of Selected Balance Sheet Accounts - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Details of Selected Balance Sheet Accounts [Abstract]
Deferred compensation plan	$ 19,875	$ 18,772
Deferred income taxes	418	120
Other	5,304	5,512
Other noncurrent assets	$ 25,597	$ 24,404

Details of Selected Balance S34

Details of Selected Balance Sheet Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Details of Selected Balance Sheet Accounts [Abstract]
Accrued compensation	$ 22,540	$ 23,131
Insurance liabilities	7,734	8,099
Accrued taxes, other than income taxes	7,099	2,461
Accrued leasehold restoration liability	831	766
Accrued product warranty reserves	743	1,113
Accrued commissions	1,514	1,305
Accrued claims	1,288	1,578
Other	5,883	6,880
Accrued liabilities	$ 47,632	$ 45,333

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Loss - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 56,810		$ 56,810		$ 70,300
Currency translation adjustments	$ 4,857	$ (5,217)	$ 13,490	$ (12,534)
United Kingdom, Pounds
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened	8.00%		8.00%
Exchange rate weakened		12.00%		12.00%
Brazil, Brazil Real
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened	3.00%	22.00%	3.00%	22.00%

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerators:
Net loss from continuing operations	$ (15,031)	$ (10,818)	$ (46,955)	$ (35,759)
Less: Income attributable to unvested restricted stock awards	0	0	0	0
Numerator for basic net loss per share from continuing operations	(15,031)	(10,818)	(46,955)	(35,759)
Net loss from discontinued operations, net of tax	0	0	0	(4)
Numerator for basic net loss per share attributable to Oil States	(15,031)	(10,818)	(46,955)	(35,763)
Effect of dilutive securities:
Unvested restricted stock awards	0	0	0	0
Numerator for diluted net loss per share attributable to Oil States	$ (15,031)	$ (10,818)	$ (46,955)	$ (35,763)
Denominators:
Weighted average number of common shares outstanding (in shares)	51,089	51,354	51,310	51,287
Less: Weighted average number of unvested restricted stock awards outstanding (in shares)	(1,111)	(1,132)	(1,120)	(1,129)
Denominator for basic net loss per share attributable to Oil States (in shares)	49,978	50,222	50,190	50,158
Effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	0	0	0
Denominator for diluted net loss per share attributable to Oil States (in shares)	49,978	50,222	50,190	50,158
Basic net loss per share attributable to Oil States from:
Continuing operations (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.94)	$ (0.71)
Discontinued operations (in dollars per share)	0	0	0	0
Net loss (in dollars per share)	(0.30)	(0.22)	(0.94)	(0.71)
Diluted net loss per share attributable to Oil States from:
Continuing operations (in dollars per share)	(0.30)	(0.22)	(0.94)	(0.71)
Discontinued operations (in dollars per share)	0	0	0	0
Net loss (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.94)	$ (0.71)
Restricted Stock
Effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	0	0	0
Employee Stock Option
Effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	0	0	0

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	701	745	712	755

Business Acquisitions and Goo38

Business Acquisitions and Goodwill - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Business Combination Segment Allocation [Line Items]
Payments to to acquire businesses	$ 12,859	$ 0
Offshore / Manufactured Products
Business Combination Segment Allocation [Line Items]
Payments to to acquire businesses	$ 12,900

Business Acquisitions and Goo39

Business Acquisitions and Goodwill - Changes in the Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Changes in carrying value of goodwill
Goodwill, gross, beginning of period	$ 380,664
Accumulated impairment losses, beginning of period	(117,295)
Goodwill, net, beginning of period	263,369
Goodwill acquired	4,698
Foreign currency translation	850
Goodwill, gross, end of period	386,212
Accumulated impairment losses, end of period	(117,295)
Goodwill, net, end of period	268,917
Completion Services
Changes in carrying value of goodwill
Goodwill, gross, beginning of period	199,278
Accumulated impairment losses, beginning of period	(94,528)
Goodwill, net, beginning of period	104,750
Goodwill acquired	0
Foreign currency translation	353
Goodwill, gross, end of period	199,631
Accumulated impairment losses, end of period	(94,528)
Goodwill, net, end of period	105,103
Drilling Services
Changes in carrying value of goodwill
Goodwill, gross, beginning of period	22,767
Accumulated impairment losses, beginning of period	(22,767)
Goodwill, net, beginning of period	0
Goodwill acquired	0
Foreign currency translation	0
Goodwill, gross, end of period	22,767
Accumulated impairment losses, end of period	(22,767)
Goodwill, net, end of period	0
Subtotal
Changes in carrying value of goodwill
Goodwill, gross, beginning of period	222,045
Accumulated impairment losses, beginning of period	(117,295)
Goodwill, net, beginning of period	104,750
Goodwill acquired	0
Foreign currency translation	353
Goodwill, gross, end of period	222,398
Accumulated impairment losses, end of period	(117,295)
Goodwill, net, end of period	105,103
Offshore / Manufactured Products
Changes in carrying value of goodwill
Goodwill, gross, beginning of period	158,619
Accumulated impairment losses, beginning of period	0
Goodwill, net, beginning of period	158,619
Goodwill acquired	4,698
Foreign currency translation	497
Goodwill, gross, end of period	163,814
Accumulated impairment losses, end of period	0
Goodwill, net, end of period	$ 163,814

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	May 28, 2014USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt issuance costs		$ 1,400,000	$ 2,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000
Additional borrowing capacity	$ 750,000,000
Long-term line of credit		15,600,000
Value of letters of credit outstanding		21,600,000
Remaining borrowing capacity		146,500,000
Remaining borrowing capacity and cash and cash equivalents		$ 212,400,000
Unused capacity, commitment fee percentage		0.375%
Minimum coverage ratio		3
Maximum leverage ratio		3.25
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

Long-term Debt- Summary of Long

Long-term Debt- Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Capital lease obligations and other debt	$ 5,293	$ 5,696
Total debt	19,553	45,926
Less: current portion	(492)	(538)
Total long-term debt and capitalized leases	19,061	45,388
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 14,260	$ 40,230

Changes in Common Stock Outst42

Changes in Common Stock Outstanding - Common Stock Outstanding Activity (Details)	9 Months Ended
	Sep. 30, 2017shares
Changes in Common Stock Outstanding [Roll Forward]
Shares of common stock outstanding – December 31, 2016	51,374,361
Restricted stock awards, net of forfeitures	425,386
Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury	(148,536)
Purchase of treasury stock	(561,765)
Shares of common stock outstanding – September 30, 2017	51,089,446

Changes in Common Stock Outst43

Changes in Common Stock Outstanding - Narrative (Details) - USD ($) $ in Thousands	Jul. 26, 2017	Sep. 30, 2017	Jul. 29, 2015
Equity, Class of Treasury Stock [Line Items]
Treasury stock acquired (in shares)		561,765
Value of treasury stock acquired, cost method		$ 16,283
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized amount			$ 150,000
Period in force	1 year
Treasury stock acquired (in shares)		562,000
Value of treasury stock acquired, cost method		$ 16,300
Remaining authorized repurchase amount		$ 120,500

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 6.1	$ 5.4	$ 17.1	$ 15.9
Share-based compensation costs not yet recognized		$ 33.7		$ 33.7
Service-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance award forfeitures (in shares)				50,046
Service-based Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				3 years
Service-based Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				4 years
Performance-based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)				3 years
Percentage of additional performance-based awards issued (in shares)		200.00%		200.00%
Performance award forfeitures (in shares)				0
Forecast | Performance-based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance award forfeitures (in shares)	80,000

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Stock Options
Outstanding at December 31, 2016	715,095
Granted	0
Restricted stock awards vested	0
Forfeited	(21,818)
Outstanding at September 30, 2017	693,277
Weighted average grant date fair value (2017 awards) | $ / shares	$ 0
Service-based Restricted Stock
Service-based and Performance-based Stock
Outstanding at December 31, 2016	1,140,489
Granted	475,432
Restricted stock awards vested	(466,304)
Forfeited	(50,046)
Outstanding at September 30, 2017	1,099,571
Weighted average grant date fair value (2017 awards) | $ / shares	$ 39.50
Performance-based Stock Units
Service-based and Performance-based Stock
Outstanding at December 31, 2016	157,925
Granted	74,758
Restricted stock awards vested	0
Forfeited	0
Outstanding at September 30, 2017	232,683
Weighted average grant date fair value (2017 awards) | $ / shares	$ 62.66

Income Taxes - (Details)

Income Taxes - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (4,019)	$ (6,021)	$ (15,708)	$ (20,474)
Effective income tax rate	21.10%	35.80%	25.10%	36.40%
Operating loss carryback	$ 16,600		$ 16,600
Tax charge			$ 1,000

Segments and Related Informat47

Segments and Related Information - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017segmentcustomer
Segment Reporting [Abstract]
Number of reportable segments | segment		2
Segment Reporting Information [Line Items]
Number of customers | customer		1
Customer Concentration Risk | Sales Revenue, Net | One Customer
Segment Reporting Information [Line Items]
Concentration risk, percentage	16.00%	15.00%
Customer Concentration Risk | Accounts Receivable | One Customer
Segment Reporting Information [Line Items]
Concentration risk, percentage		12.00%

Segments and Related Informat48

Segments and Related Information - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 164,048	$ 179,006	$ 486,917	$ 524,510
Depreciation and amortization	26,788	29,848	82,552	89,666
Operating (loss) income	(18,183)	(15,626)	(60,013)	(52,892)
Equity in losses of unconsolidated affiliates	(33)	(77)	(62)	(196)
Capital expenditures	7,040	5,495	20,331	23,893
Total assets	1,329,355	1,435,127	1,329,355	1,435,127	$ 1,383,898
Corporate
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Depreciation and amortization	251	277	778	847
Operating (loss) income	(12,349)	(12,402)	(37,274)	(34,798)
Equity in losses of unconsolidated affiliates	0	0	0	0
Capital expenditures	54	379	196	637
Total assets	44,506	25,486	44,506	25,486
Completion Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	61,015	38,975	167,577	116,748
Depreciation and amortization	15,679	17,230	48,400	52,789
Operating (loss) income	(9,933)	(20,450)	(38,960)	(66,251)
Equity in losses of unconsolidated affiliates	0	0	0	0
Capital expenditures	2,447	2,365	8,560	9,032
Total assets	427,207	475,139	427,207	475,139
Drilling Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	16,162	7,375	39,120	14,016
Depreciation and amortization	4,454	5,629	14,283	18,053
Operating (loss) income	(3,235)	(5,641)	(11,239)	(19,697)
Equity in losses of unconsolidated affiliates	0	0	0	0
Capital expenditures	1,693	249	2,800	748
Total assets	74,991	82,683	74,991	82,683
Subtotal | Operating Segments
Segment Reporting Information [Line Items]
Revenues	77,177	46,350	206,697	130,764
Depreciation and amortization	20,133	22,859	62,683	70,842
Operating (loss) income	(13,168)	(26,091)	(50,199)	(85,948)
Equity in losses of unconsolidated affiliates	0	0	0	0
Capital expenditures	4,140	2,614	11,360	9,780
Total assets	502,198	557,822	502,198	557,822
Offshore / Manufactured Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues	86,871	132,656	280,220	393,746
Depreciation and amortization	6,404	6,712	19,091	17,977
Operating (loss) income	7,334	22,867	27,460	67,854
Equity in losses of unconsolidated affiliates	(33)	(77)	(62)	(196)
Capital expenditures	2,846	2,502	8,775	13,476
Total assets	$ 782,651	$ 851,819	$ 782,651	$ 851,819

Segments and Related Informat49

Segments and Related Information - Supplemental External Customer Revenue Information for Offshore/Manufactured Product Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues	$ 164,048	$ 179,006	$ 486,917	$ 524,510
Operating Segments | Offshore / Manufactured Products
Segment Reporting Information [Line Items]
Revenues	86,871	132,656	280,220	393,746
Operating Segments | Offshore / Manufactured Products | Project-driven products
Segment Reporting Information [Line Items]
Revenues	22,698	76,541	89,615	234,440
Operating Segments | Offshore / Manufactured Products | Short-cycle products
Segment Reporting Information [Line Items]
Revenues	37,781	23,766	110,872	63,033
Operating Segments | Offshore / Manufactured Products | Other products and services
Segment Reporting Information [Line Items]
Revenues	$ 26,392	$ 32,349	$ 79,733	$ 96,273