Oil States International (OIS) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-16337
Entity Registrant Name	OIL STATES INTERNATIONAL, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0476605
Entity Address, Address Line One	Three Allen Center, 333 Clay Street
Entity Address, Address Line Two	Suite 4620
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	652-0582
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	OIS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		61,031,053
Entity Central Index Key	0001121484
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Revenues	$ 134,759	$ 263,697	$ 500,698	$ 778,993
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	120,611	201,090	446,296	609,080
Selling, general and administrative expense	21,389	31,935	71,505	93,527
Depreciation and amortization expense	24,251	31,366	75,306	94,800
Impairments of goodwill	0	0	406,056	0
Impairments of fixed assets	0	33,697	8,190	33,697
Other operating expense (income), net	(652)	519	(679)	34
Costs and expenses	165,599	298,607	1,006,674	831,138
Operating loss	(30,840)	(34,910)	(505,976)	(52,145)
Interest expense, net	(3,549)	(4,352)	(11,232)	(13,721)
Other income, net	6,744	1,190	13,512	2,866
Loss before income taxes	(27,645)	(38,072)	(503,696)	(63,000)
Income tax benefit	7,676	6,204	54,060	6,744
Net loss	$ (19,969)	$ (31,868)	$ (449,636)	$ (56,256)
Net loss per share:
Basic (in dollars per share)	$ (0.33)	$ (0.54)	$ (7.52)	$ (0.95)
Diluted (in dollars per share)	$ (0.33)	$ (0.54)	$ (7.52)	$ (0.95)
Weighted average number of common shares outstanding:
Basic (in shares)	59,871	59,423	59,788	59,362
Diluted (in shares)	59,871	59,423	59,788	59,362
Products
Revenues:
Revenues	$ 72,598	$ 122,067	$ 258,221	$ 363,360
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	66,789	90,796	224,623	275,353
Services
Revenues:
Revenues	62,161	141,630	242,477	415,633
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	$ 53,822	$ 110,294	$ 221,673	$ 333,727

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (19,969)	$ (31,868)	$ (449,636)	$ (56,256)
Other comprehensive income (loss):
Currency translation adjustments	3,357	(5,672)	(12,664)	(5,535)
Comprehensive loss	$ (16,612)	$ (37,540)	$ (462,300)	$ (61,791)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 79,701	$ 8,493
Accounts receivable, net	158,184	233,487
Inventories, net	180,497	221,342
Prepaid expenses and other current assets	14,921	20,107
Total current assets	433,303	483,429
Property, plant, and equipment, net	390,962	459,724
Operating lease assets, net	36,902	43,616
Goodwill, net	76,051	482,306
Other intangible assets, net	211,804	230,091
Other noncurrent assets	31,764	28,701
Total assets	1,180,786	1,727,867
Current liabilities:
Current portion of long-term debt	25,620	25,617
Accounts payable	36,666	78,368
Accrued liabilities	49,755	48,840
Current operating lease liabilities	7,942	8,311
Income taxes payable	3,501	4,174
Deferred revenue	48,851	17,761
Total current liabilities	172,335	183,071
Long-term debt	163,526	222,552
Long-term operating lease liabilities	30,459	35,777
Deferred income taxes	26,643	38,079
Other noncurrent liabilities	23,485	24,421
Total liabilities	416,448	503,900
Stockholders' equity:
Common stock, $.01 par value, 200,000,000 shares authorized, 73,301,564 shares and 72,546,321 shares issued, respectively	733	726
Additional paid-in capital	1,119,860	1,114,521
Retained earnings	348,074	797,710
Accumulated other comprehensive loss	(80,410)	(67,746)
Treasury stock, at cost, 12,270,511 and 12,045,065 shares, respectively	(623,919)	(621,244)
Total stockholders' equity	764,338	1,223,967
Total liabilities and stockholders' equity	$ 1,180,786	$ 1,727,867

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
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)	73,301,564	72,546,321
Treasury stock, shares (in shares)	12,270,511	12,045,065

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance at Dec. 31, 2018	$ 1,439,768	$ 718	$ 1,097,758	$ 1,029,518	$ (71,397)	$ (616,829)
Increase (Decrease) in Stockholders' Equity
Net loss	(56,256)			(56,256)
Currency translation adjustments (excluding intercompany advances)	(4,841)				(4,841)
Currency translation adjustments on intercompany advances	(694)				(694)
Stock-based compensation expense:
Restricted stock	12,769	8	12,761
Stock options	53		53
Stock repurchases	(757)					(757)
Surrender of stock to settle taxes on restricted stock awards	(3,698)					(3,698)
Ending balance at Sep. 30, 2019	1,386,344	726	1,110,572	973,262	(76,932)	(621,284)
Beginning balance at Jun. 30, 2019	1,419,728	726	1,106,340	1,005,130	(71,260)	(621,208)
Increase (Decrease) in Stockholders' Equity
Net loss	(31,868)			(31,868)
Currency translation adjustments (excluding intercompany advances)	(4,448)				(4,448)
Currency translation adjustments on intercompany advances	(1,224)				(1,224)
Stock-based compensation expense:
Restricted stock	4,232	0	4,232
Stock options	0
Stock repurchases	0
Surrender of stock to settle taxes on restricted stock awards	(76)					(76)
Ending balance at Sep. 30, 2019	1,386,344	726	1,110,572	973,262	(76,932)	(621,284)
Beginning balance at Dec. 31, 2019	1,223,967	726	1,114,521	797,710	(67,746)	(621,244)
Increase (Decrease) in Stockholders' Equity
Net loss	(449,636)			(449,636)
Currency translation adjustments (excluding intercompany advances)	(4,524)				(4,524)
Currency translation adjustments on intercompany advances	(8,140)				(8,140)
Stock-based compensation expense:
Restricted stock	5,346	7	5,339
Surrender of stock to settle taxes on restricted stock awards	(2,675)					(2,675)
Ending balance at Sep. 30, 2020	764,338	733	1,119,860	348,074	(80,410)	(623,919)
Beginning balance at Jun. 30, 2020	778,869	733	1,117,771	368,043	(83,767)	(623,911)
Increase (Decrease) in Stockholders' Equity
Net loss	(19,969)			(19,969)
Currency translation adjustments (excluding intercompany advances)	4,624				4,624
Currency translation adjustments on intercompany advances	(1,267)				(1,267)
Stock-based compensation expense:
Restricted stock	2,089	0	2,089
Surrender of stock to settle taxes on restricted stock awards	(8)					(8)
Ending balance at Sep. 30, 2020	$ 764,338	$ 733	$ 1,119,860	$ 348,074	$ (80,410)	$ (623,919)

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (449,636)	$ (56,256)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense	75,306	94,800
Impairments of goodwill	406,056	0
Impairments of inventories	31,151	0
Impairments of fixed assets	8,190	33,697
Stock-based compensation expense	5,346	12,822
Amortization of debt discount and deferred financing costs	5,937	5,903
Deferred income tax benefit	(16,915)	(11,935)
Gains on extinguishment of 1.50% convertible senior notes	(10,721)	0
Gains on disposals of assets	(2,088)	(2,310)
Other, net	3,732	1,216
Changes in operating assets and liabilities:
Accounts receivable	67,371	24,993
Inventories	9,174	(6,867)
Accounts payable and accrued liabilities	(39,594)	3,143
Income taxes payable	248	1,948
Deferred revenue	31,114	11,793
Other operating assets and liabilities, net	6,471	2,947
Net cash flows provided by operating activities	131,142	115,894
Cash flows from investing activities:
Capital expenditures	(11,277)	(45,832)
Proceeds from disposition of property, plant and equipment	8,984	3,619
Other, net	(444)	(1,534)
Net cash flows used in investing activities	(2,737)	(43,747)
Cash flows from financing activities:
Revolving credit facility borrowings	72,173	175,306
Revolving credit facility repayments	(105,104)	(246,450)
Purchases of 1.50% convertible senior notes	(20,078)	(858)
Other debt and finance lease repayments, net	(337)	(434)
Payment of financing costs	(962)	(18)
Shares added to treasury stock as a result of net share settlements due to vesting of stock awards	(2,675)	(3,698)
Purchases of treasury stock	0	(757)
Net cash flows used in financing activities	(56,983)	(76,909)
Effect of exchange rate changes on cash and cash equivalents	(214)	101
Net change in cash and cash equivalents	71,208	(4,661)
Cash and cash equivalents, beginning of period	8,493	19,316
Cash and cash equivalents, end of period	79,701	14,655
Cash paid (received) for:
Interest	5,716	8,378
Income taxes, net	$ (37,393)	$ (2,522)

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Cash Flows (Parenthetical)	Sep. 30, 2020	Sep. 30, 2019
1.5% Convertible Unsecured Senior Notes
Stated interest rate	1.50%	1.50%

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
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 with 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 statement 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. Certain prior-year amounts in the Company's unaudited condensed consolidated financial statements have been reclassified to conform to the current year presentation. As further discussed in Note 13, "Commitments and Contingencies," the impact of the Coronavirus Disease 2019 ("COVID-19") pandemic and the related economic, business and market disruptions continues to evolve and its future effects remain uncertain. The actual impact of these developments on the Company will depend on many factors, many of which are beyond management's control and knowledge. It is therefore difficult for management to assess or predict with precision the broad future effect of this health crisis on the global economy, the energy industry or the Company. During the first nine months of 2020, the Company recorded asset impairments, severance and facility closure charges in response to these recent developments, as further discussed in Note 3, "Asset Impairments and Other Charges." As additional information becomes available, events or circumstances change and strategic operational decisions are made by management, further adjustments may be required which could have a material adverse impact on the Company's consolidated financial position, results of operations and cash flows. 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. Examples of such estimates include, but are not limited to, goodwill and other asset impairments, revenue and income recognized over time, valuation allowances recorded on deferred tax assets, reserves on inventory, allowances for doubtful accounts, and potential future adjustments related to contractual indemnification and other agreements. Actual results could materially differ from those estimates. 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, 2019.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
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 August 2020, the FASB issued updated guidance to simplify the accounting for convertible instruments and contracts in an entity's own equity. This new guidance will eliminate the current requirement that the carrying value of convertible debt instruments, including the Company's 1.50% convertible senior notes due 2023 (the "Notes"), be allocated between the debt and equity components. As permitted under the standard, the Company plans to adopt the new guidance on January 1, 2021 using the modified retrospective transition method. Upon initial evaluation, the Company believes the key changes upon adoption will be to increase the carrying value of the debt component of the Notes and reduce the reported level of interest expense recognized over the remaining life of the Notes. Based on the $157.4 million principal amount of the Notes outstanding as of September 30, 2020, the Company estimates that the adoption of the standard on January 1, 2021 will result in a $12.2 million increase in the net carrying value of the Notes, a $3.7 million decrease in deferred income taxes and an $8.5 million net decrease in stockholders' equity. Beginning on January 1, 2021, the effective interest rate associated with the Notes is expected to decrease from approximately 6% to approximately 2%, which compares to the contractual cash interest rate of 1.50%.

Asset Impairments and Other Cha

Asset Impairments and Other Charges	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Asset Impairments and Other Charges	Asset Impairments and Other Charges In March of 2020, the spot price of West Texas Intermediate ("WTI") crude oil declined over 50% in response to current and expected material reductions in global demand stemming from the global response to the COVID-19 pandemic, coupled with announcements by Saudi Arabia and Russia of plans to increase crude oil production. Following this unprecedented collapse in crude oil prices, the spot price of Brent and WTI crude oil closed at $15 and $21 per barrel, respectively, on March 31, 2020. Crude oil prices further declined in April of 2020 to record low levels, and while the spot price of Brent and WTI crude oil increased to an average of $43 and $41 per barrel, respectively, in the third quarter of 2020, these average prices continue to be depressed versus historical price levels. Demand for most of the Company's products and services depends substantially on the level of capital expenditures by the oil and natural gas industry. The decline in oil prices has, and is expected to continue to, result in further near-term reductions to most of the Company's customers' drilling, completion and production activities and their related spending on products and services, particularly in the U.S. shale play regions. These conditions may also result in a material adverse impact on certain customers' liquidity and financial position, leading to further spending reductions, delays in the collection of amounts owed and in certain instances, non-payment of amounts owed. Consistent with oilfield service industry peers, the Company's stock price declined dramatically during the first quarter of 2020, with its market capitalization falling substantially below the carrying value of stockholders' equity. Following these March 2020 events, the Company immediately implemented significant cost reduction initiatives. The Company also assessed the carrying value of goodwill, long-lived and other assets based on the industry outlook regarding overall demand for and pricing of its products and services, other market considerations and the financial condition of the Company's customers. As a result of these events, actions and assessments, the Company recorded the following charges during the first quarter of 2020 (in thousands): Completion Services Drilling Services Downhole Technologies Offshore/ Pre-tax Total Tax After-tax Total Impairments of goodwill $ 127,054 $ — $ 192,502 $ 86,500 $ 406,056 $ 19,600 $ 386,456 Impairments of fixed assets — 5,198 — — 5,198 1,092 4,106 Impairments of inventories (Note 4) 8,981 — — 16,249 25,230 4,736 20,494 Severance and facility closure costs 331 217 — 112 660 139 521 During the second and third quarters of 2020, the Company further reduced its workforce and closed additional facilities in the United States and continued to assess the carrying value of its assets based on the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands): Completion Services Downhole Technologies Offshore/ Manufactured Products Corporate Pre-tax Total Tax After-tax Total Second quarter 2020 Impairments of fixed assets $ 2,992 $ — $ — $ — $ 2,992 $ 628 $ 2,364 Severance and facility closure costs 3,544 1,315 322 216 5,397 1,133 4,264 Third quarter 2020 Impairments of inventories (Note 4) $ — $ 5,921 $ — $ — $ 5,921 $ 1,243 $ 4,678 Severance and facility closure costs — — 288 — 288 60 228 Goodwill The Company has three reporting units – Completion Services, Downhole Technologies and Offshore/Manufactured Products – with goodwill balances totaling $482.3 million as of December 31, 2019. Goodwill is allocated to each reporting unit from acquisitions made by the Company. In accordance with current accounting guidance, the Company does not amortize goodwill, but rather assesses goodwill for impairment annually and when an event occurs or circumstances change that indicate the carrying amounts may not be recoverable. If the carrying amount of a reporting unit exceeds its fair value, goodwill is considered impaired and an impairment loss is recorded. Given the significance of the March 2020 events described above, the Company performed a quantitative assessment of goodwill for impairment as of March 31, 2020. This interim assessment indicated that the fair value of each of the reporting units was less than their respective carrying amounts. Management utilizes, depending on circumstances, a combination of valuation methodologies including a market approach and an income approach, as well as guideline public company comparables. The valuation techniques used in the March 31, 2020 assessment were consistent with those used during the December 1, 2019 assessment, except for the Completion Services reporting unit where the income approach was used to estimate its fair value – with the market approach used only to validate the results in 2020. The fair values of each of the Company's reporting units were determined using significant unobservable inputs (Level 3 fair value measurements). This approach estimates fair value by discounting the Company's forecasts of future cash flows by a discount rate (expected return) that a market participant is expected to require. Significant assumptions and estimates used in the income approach include, among others, estimated future net annual cash flows and discount rates for each reporting unit, current and anticipated market conditions, estimated growth rates and historical data. These estimates rely upon significant management judgment, particularly given the continued uncertainties regarding the COVID-19 pandemic and its impact on activity levels and commodity prices as well as future global economic growth. Based on this quantitative assessment as of March 31, 2020, the Company concluded that goodwill recorded in the Completion Services and Downhole Technologies businesses was fully impaired while goodwill recorded in the Offshore/Manufactured Products business was partially impaired. The Company therefore recognized non-cash goodwill impairment charges totaling $406.1 million in the first quarter of 2020. These impairment charges did not impact the Company's liquidity position, debt covenants or cash flows. The discount rates used to value the Company's reporting units as of March 31, 2020 ranged between 16.8% and 18.5%. Holding all other assumptions and inputs used in the discounted cash flow analysis constant, a 50 basis point increase in the discount rate assumption for the Offshore/Manufactured Products reporting unit would have increased the goodwill impairment charge by approximately $10 million. A summary of changes in the carrying values of goodwill by reporting unit in the first nine months of 2020 is presented in Note 4, "Details of Selected Balance Sheet Accounts." Long-lived Assets The Company also assesses the carrying value of long-lived assets, including property, plant and equipment, operating lease assets and other intangible assets held by each of its four reporting units. As a result of the March 2020 assessment, the Company concluded that property and equipment held by the Drilling Services reporting unit was further impaired and recognized a non-cash fixed asset impairment charge of $5.2 million in the first quarter of 2020. During the second quarter of 2020, the Company concluded that certain facilities held for sale by the Completion Services reporting unit were impaired and recognized a non-cash fixed asset impairment charge of $3.0 million to reduce the carrying value of the facilities to their estimated realizable value based on the current market environment. The Company performed a qualitative assessment of goodwill and long-lived assets as of September 30, 2020 and concluded that no further impairment evaluation was required. As a result, no material impairments of goodwill or long-lived assets were recorded in the third quarter of 2020. Should, among other events and circumstances, global economic and industry conditions further deteriorate, the COVID-19 pandemic business and market disruptions worsen, the outlook for future operating results and cash flow for any of the Company's reporting units decline, income tax rates increase or regulations change, costs of equity or debt capital increase, valuations for comparable public companies or comparable acquisition valuations decrease, or management implement strategic decisions based on industry conditions, the Company may need to recognize additional impairment losses in future periods.

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	9 Months Ended
	Sep. 30, 2020
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 as of September 30, 2020 and December 31, 2019 is presented below (in thousands): September 30, December 31, Accounts receivable, net: Trade $ 114,204 $ 178,813 Unbilled revenue 25,461 28,341 Contract assets 25,276 26,034 Other 3,443 9,044 Total accounts receivable 168,384 242,232 Allowance for doubtful accounts (10,200) (8,745) $ 158,184 $ 233,487 Allowance for doubtful accounts as a percentage of total accounts receivable 6 % 4 % September 30, December 31, Deferred revenue (contract liabilities) $ 48,851 $ 17,761 For the nine months ended September 30, 2020, the $0.8 million net decrease in contract assets was primarily attributable to $22.8 million transferred to accounts receivable, which was substantially offset by $22.0 million in revenue recognized during the period. Deferred revenue (contract liabilities) increased by $31.1 million in 2020, primarily reflecting $46.4 million in new customer billings which were not recognized as revenue during the period, partially offset by the recognition of $15.2 million of revenue that was deferred at the beginning of the period. As of September 30, 2020, accounts receivable, net in the United States, the United Kingdom and Singapore represented 62%, 17% and 12%, respectively, of the respective total. No other country or single customer accounted for more than 10% of the Company's total accounts receivable as of September 30, 2020. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of the Company's customers to make required payments. Determination of the collectability of amounts due from customers requires us to make judgments regarding future events and trends. Allowances for doubtful accounts are established through an assessment of the Company's portfolio on an individual customer and consolidated basis taking into account current and expected future market conditions and trends. This process consists of a thorough review of historical collection experience, current aging status of the customer accounts, and financial condition of the Company's customers as well as political and economic factors in countries of operations and other customer-specific factors. Based on a review of these factors, the Company establishes or adjusts allowances for trade and unbilled receivables as well as contract assets. If a customer receivable is deemed to be uncollectible, the receivable is charged-off against allowance for doubtful accounts. If the financial condition of the Company's customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. The following provides a summary of activity in the allowance for doubtful accounts for the nine months ended September 30, 2020 and 2019 (in thousands): 2020 2019 Allowance for doubtful accounts – January 1 $ 8,745 $ 6,701 Provisions 2,787 1,222 Write-offs (2,490) (894) Other 1,158 (58) Allowance for doubtful accounts – September 30 10,200 6,971 September 30, December 31, Inventories, net: Finished goods and purchased products $ 96,753 $ 107,691 Work in process 23,390 21,963 Raw materials 102,621 110,719 Total inventories 222,764 240,373 Allowance for excess or obsolete inventory (42,267) (19,031) $ 180,497 $ 221,342 The Company recorded an impairment charge of $5.9 million in the third quarter of 2020 to reduce the carrying value of inventories within the Downhole Technologies segment to their estimated net realizable value based on changes in expectations regarding the near-term utility, customer demand and market pricing of certain goods. The Company recorded impairment charges totaling $25.2 million in the first quarter of 2020 to reduce the carrying value of inventories to their estimated net realizable value following the March 2020 decline in crude oil prices, which reduced the near-term utility of certain goods within the Offshore/Manufactured Products and Completion Services operations. September 30, December 31, Property, plant and equipment, net: Land $ 34,046 $ 37,507 Buildings and leasehold improvements 264,434 273,384 Machinery and equipment 238,579 246,826 Completion Services equipment 507,769 510,737 Office furniture and equipment 35,419 45,309 Vehicles 82,161 97,264 Construction in progress 7,777 13,281 Total property, plant and equipment 1,170,185 1,224,308 Accumulated depreciation (779,223) (764,584) $ 390,962 $ 459,724 For the three months ended September 30, 2020 and 2019, depreciation expense was $18.0 million and $24.6 million, respectively. Depreciation expense was $56.6 million and $74.5 million for the nine months ended September 30, 2020 and 2019, respectively. During the third quarter of 2019, the Company made the strategic decision to reduce the scope of its Drilling Services reporting unit (adjusting from 34 rigs to 9 rigs) due to the ongoing weakness in customer demand for vertical drilling rigs in the U.S. land market, particularly the Permian Basin, which resulted in the recognition of a $33.7 million non-cash fixed asset impairment charge. As discussed in Note 3, "Asset Impairments and Other Charges," during the first quarter of 2020 the Drilling Services reporting unit recognized a non-cash impairment charge of $5.2 million to further reduce the carrying value of the business's fixed assets to their estimated realizable value. Additionally, in the second quarter of 2020, the Completion Services reporting unit recognized a non-cash impairment charge of $3.0 million to reduce the carrying value of certain facilities to their estimated realizable value. September 30, December 31, Other noncurrent assets: Deferred compensation plan $ 22,767 $ 22,268 Other 8,997 6,433 $ 31,764 $ 28,701 September 30, December 31, Accrued liabilities: Accrued compensation $ 20,146 $ 27,428 Insurance liabilities 8,079 9,108 Accrued taxes, other than income taxes 12,427 3,424 Accrued interest 2,052 2,387 Accrued commissions 1,934 1,481 Other 5,117 5,012 $ 49,755 $ 48,840 Goodwill: Well Site Services Downhole Technologies Offshore/ Total Completion Services Drilling Services Subtotal Balance as of December 31, 2019 Goodwill $ 221,582 $ 22,767 $ 244,349 $ 357,502 $ 162,750 $ 764,601 Accumulated impairment losses (94,528) (22,767) (117,295) (165,000) — (282,295) 127,054 — 127,054 192,502 162,750 482,306 Goodwill impairments (1) (127,054) — (127,054) (192,502) (86,500) (406,056) Foreign currency translation — — — — (199) (199) Balance as of September 30, 2020 $ — $ — $ — $ — $ 76,051 $ 76,051 ________________ (1) See Note 3, "Asset Impairments and Other Charges" for discussion of first quarter 2020 goodwill impairments. Other Intangible Assets: September 30, 2020 December 31, 2019 Gross Accumulated Net Carrying Amount Gross Accumulated Net Carrying Amount Customer relationships $ 168,271 $ 52,598 $ 115,673 $ 168,278 $ 44,296 $ 123,982 Patents/Technology/Know-how 75,741 24,617 51,124 85,919 30,791 55,128 Noncompete agreements 16,010 13,542 2,468 17,125 11,061 6,064 Tradenames and other 53,708 11,169 42,539 53,708 8,791 44,917 $ 313,730 $ 101,926 $ 211,804 $ 325,030 $ 94,939 $ 230,091 For the three months ended September 30, 2020 and 2019, amortization expense was $6.2 million and $6.8 million, respectively. Amortization expense was $18.7 million and $20.3 million for the nine months ended September 30, 2020 and 2019, respectively.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2020
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, 2020 and 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Numerators: Net loss $ (19,969) $ (31,868) $ (449,636) $ (56,256) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share (19,969) (31,868) (449,636) (56,256) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share $ (19,969) $ (31,868) $ (449,636) $ (56,256) Denominators: Weighted average number of common shares outstanding 61,028 60,493 60,928 60,400 Less: Weighted average number of unvested restricted stock awards outstanding (1,157) (1,070) (1,140) (1,038) Denominator for basic and diluted net loss per share 59,871 59,423 59,788 59,362 Net loss per share: Basic $ (0.33) $ (0.54) $ (7.52) $ (0.95) Diluted (0.33) (0.54) (7.52) (0.95) The calculation of diluted net loss per share for the three and nine months ended September 30, 2020 excluded 560 thousand shares and 595 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. The calculation of diluted net loss per share for the three and nine months ended September 30, 2019 excluded 643 thousand shares and 665 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. Additionally, shares issuable upon conversion of the 1.50% convertible senior notes were excluded for the three and nine month periods ended September 30, 2020 and 2019, due to their antidilutive effect.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt As of September 30, 2020 and December 31, 2019, long-term debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility due January 2022 (1) $ 17,682 $ 50,534 1.50% convertible senior notes due February 2023 (2) 141,692 167,594 Promissory note 25,000 25,000 Other debt and finance lease obligations 4,772 5,041 Total debt 189,146 248,169 Less: Current portion (25,620) (25,617) Total long-term debt $ 163,526 $ 222,552 ____________________ (1) Presented net of $1.3 million and $1.4 million of unamortized debt issuance costs as of September 30, 2020 and December 31, 2019, respectively. (2) The outstanding principal amount of the 1.50% convertible senior notes was $157.4 million and $192.3 million as of September 30, 2020 and December 31, 2019, respectively. Revolving Credit Facility due January 2022 The Company's senior secured revolving credit facility (the "Revolving Credit Facility") is governed by an amended and restated credit agreement with Wells Fargo Bank, N.A., as administrative agent for the lenders party thereto, and the lenders and other financial institutions from time to time party thereto, dated as of January 30, 2018 (the "Credit Agreement"), which matures on January 30, 2022. Prior to June 17, 2020, the Revolving Credit Facility provided for $350.0 million in lender commitments, including $50.0 million available for the issuance of letters of credit. On June 17, 2020, the Company entered into an omnibus amendment to the Credit Agreement (as amended, the "Amended Credit Agreement"). Lender commitments under the Amended Credit Agreement were reduced to $200.0 million in exchange for the suspension of the financial covenants described below from July 1, 2020 through March 30, 2021. During the financial covenant suspension period, borrowing availability under the Revolving Credit Facility (as amended, the "Amended Revolving Credit Facility") is limited to 85% of the lesser of (i) $200.0 million or (ii) a borrowing base, calculated monthly, equal to the sum of 70% of the consolidated net book value of eligible receivables and 20% of the consolidated net book value of eligible inventory (the "Borrowing Base"). As of September 30, 2020, the Company had $19.0 million of borrowings outstanding under the Amended Revolving Credit Facility and $31.2 million of outstanding letters of credit. The total amount available to be drawn as of October 1, 2020 was $83.8 million, calculated based on 85% of the current Borrowing Base less outstanding borrowings and letters of credit. Prior to June 17, 2020, amounts outstanding under the Revolving Credit Facility accrued interest at LIBOR plus a margin of 1.75% to 3.00%, or at a base rate plus a margin of 0.75% to 2.00%, in each case based on a ratio of the Company's total net funded debt to consolidated EBITDA (as defined in the Credit Agreement). The Company was also required to pay a quarterly commitment fee of 0.25% to 0.50%, based on the Company's ratio of total net funded debt to consolidated EBITDA, on the unused commitments under the Credit Agreement. Effective June 17, 2020, borrowings outstanding under the Amended Revolving Credit Facility bear interest at LIBOR plus a margin of 2.50% to 3.75%, or at a base rate plus a margin of 1.50% to 2.75%, in each case based on a ratio of the Company's total net funded debt to consolidated EBITDA. The Company must also pay a quarterly commitment fee of 0.50%, based on unused commitments under the Amended Credit Agreement. The Company expensed $0.5 million of previously deferred financing costs in the second quarter of 2020, which is included in interest expense, net, as a result of the amendment of the Credit Agreement. The Amended Credit Agreement contains customary financial covenants and restrictions. Specifically, except for the period from July 1, 2020 through March 30, 2021, the Company 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, a maximum senior secured leverage ratio, defined as the ratio of senior secured debt to consolidated EBITDA, of no greater than 2.25 to 1.0 and a total net leverage ratio, defined as the ratio of total net funded debt to consolidated EBITDA, of no greater than 3.75 to 1.0. The various components used in the calculation of these ratios are defined in the Amended Credit Agreement. Consolidated EBITDA and consolidated interest expense, as defined, exclude non-cash goodwill, fixed asset and inventory impairment charges, gains or losses on the extinguishment of debt, debt discount amortization, stock-based compensation expense and other non-cash charges. Borrowings under the Amended Credit Agreement are secured by a pledge of substantially all of the Company's assets and the assets of its domestic subsidiaries. The Company's obligations under the Amended Credit Agreement are guaranteed by its significant domestic subsidiaries. The Amended Credit Agreement also contains negative covenants that limit the Company's ability to accumulate cash in excess of $45.0 million in the United States, borrow additional funds, encumber assets, pay dividends, sell assets, repurchase shares of common stock and enter into other significant transactions. Under the Amended Credit Agreement, the occurrence of specified change of control events involving the 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. 1.50% Convertible Senior Notes due February 2023 On January 30, 2018, the Company issued $200 million aggregate principal amount of the Notes pursuant to an indenture, dated as of January 30, 2018 (the "Indenture"), between the Company and Wells Fargo Bank, National Association, as trustee. During the three months ended September 30, 2020, the Company purchased $17.2 million principal amount of the outstanding Notes for $9.5 million in cash. The net carrying amount of the liability component of these Notes totaled $15.4 million. In connection with extinguishment of these Notes, the Company recognized non-cash gains totaling $5.9 million during the third quarter of 2020, which is included within other income, net. During the nine months ended September 30, 2020, the Company purchased $34.9 million principal amount of the outstanding Notes for $20.1 million in cash. The net carrying amount of the liability component of these Notes totaled $30.8 million. In connection with extinguishment of these Notes, the Company recognized non-cash gains totaling $10.7 million during the first nine months of 2020, which is included within other income, net. Since September 2019, the Company has purchased $42.6 million principal amount of the outstanding notes for $26.8 million in cash. The initial carrying amount of the Notes recorded in the consolidated balance sheet was less than the $200 million principal amount of the Notes, in accordance with the currently applicable accounting principles, reflective of the estimated fair value of a similar debt instrument that does not have a conversion feature. The Company recorded the value of the conversion feature as a debt discount, which is amortized as interest expense over the term of the Notes, with a similar amount allocated to additional paid-in capital. As a result of this amortization, interest expense currently recognized on the Notes for accounting purposes, reflecting an effective interest rate of approximately 6%, is greater than cash interest the Company is obligated to pay. Reported interest expense associated with the Notes for the three and nine months ended September 30, 2020 was $2.3 million and $7.2 million, respectively, while the related contractual cash interest expense totaled $0.6 million and $2.0 million, respectively. Reported interest expense associated with the Notes for the three and nine months ended September 30, 2019 was $2.6 million and $7.7 million, respectively, while the related contractual cash interest expense totaled $0.8 million and $2.3 million, respectively. The following table presents the carrying amount of the Notes in the consolidated balance sheets as of September 30, 2020 and December 31, 2019 (in thousands): September 30, December 31, Principal amount of the liability component $ 157,369 $ 192,250 Less: Unamortized discount 13,667 21,544 Less: Unamortized issuance costs 2,010 3,112 Net carrying amount of the liability component $ 141,692 $ 167,594 Net carrying amount of the equity component $ 25,683 $ 25,683 See Note 2, "Recent Accounting Pronouncement," for discussion of the FASB's recent revision to accounting guidance for convertible instruments, which will change the Company's method of accounting for the Notes upon its adoption of the standard effective January 1, 2021. The Notes bear interest at a rate of 1.50% per year until maturity. Interest is payable semi-annually in arrears on February 15 and August 15 of each year. In addition, additional interest and special interest may accrue on the Notes under certain circumstances as described in the Indenture. The Notes will mature on February 15, 2023, unless earlier repurchased, redeemed or converted. The initial conversion rate is 22.2748 shares of the Company's common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $44.89 per share of common stock). The conversion rate, and thus the conversion price, may be adjusted under certain circumstances as described in the Indenture. The Company's intent is to repay the principal amount of the Notes in cash and settle the conversion feature in shares of the Company's common stock. Noteholders may convert their Notes, at their option, only in the following circumstances: (1) if the last reported sale price per share of the Company's common stock exceeds 130% of the conversion price for each of at least 20 trading days during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; (2) during the five consecutive business days immediately after any five consecutive trading day period (such five consecutive trading day period, the "measurement period") in which the trading price per $1,000 principal amount of the Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company's common stock on such trading day and the conversion rate on such trading day; (3) upon the occurrence of certain corporate events or distributions on the Company's common stock, as described in the Indenture; or (4) if the Company calls the Notes for redemption, or at any time from, and including, November 15, 2022 until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, shares of common stock or a combination of cash and shares of common stock, at the Company's election, based on the applicable conversion rate(s). If the Company elects to deliver cash or a combination of cash and shares of common stock, then the consideration due upon conversion will be based on a defined observation period. The Notes will be redeemable, in whole or in part, at the Company's option at any time, and from time to time, on or after February 15, 2021, at a cash redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price per share of common stock exceeds 130% of the conversion price on each of at least 20 trading days during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice. If specified change in control events involving the Company as defined in the Indenture occur, then noteholders may require the Company to repurchase their Notes at a cash repurchase price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest. Additionally, the Indenture contains certain events of default, including certain defaults by the Company with respect to other indebtedness of at least $40.0 million. As of September 30, 2020, none of the conditions allowing holders of the Notes to convert, or requiring the Company to repurchase the Notes, had been met. Promissory Note In connection with the 2018 acquisition of GEODynamics, Inc. ("GEODynamics"), the Company issued a $25.0 million promissory note that bears interest at 2.50% per annum and was scheduled to mature on July 12, 2019. Payments due under the promissory note are subject to set off, in part or in full, against certain indemnification claims related to matters occurring prior to the Company's acquisition of GEODynamics. The Company has provided notice to and asserted indemnification claims against the seller of GEODynamics. As a result, the maturity date of the note is extended until these indemnity claims are resolved. The Company expects that the amount ultimately paid in respect of such note to be reduced by these indemnification claims. See Note 13, "Commitments and Contingencies," for additional discussion.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe Company's financial instruments consist of cash and cash equivalents, investments, receivables, payables and debt instruments. The Company believes that the carrying values of these instruments, other than the Notes, on the accompanying consolidated balance sheets approximate their fair values. The estimated fair value of the Notes as of September 30, 2020 was $89.7 million based on quoted market prices (a Level 1 fair value measurement), which compares to the $157.4 million principal amount of the Notes. See Note 2, "Recent Accounting Pronouncements."

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity The following table provides details with respect to the changes to the number of shares of common stock, $0.01 par value, outstanding during the first nine months of 2020 (in thousands): Shares of common stock outstanding – December 31, 2019 60,501 Restricted stock awards, net of forfeitures 755 Shares withheld for taxes on vesting of stock awards and transferred to treasury (225) Shares of common stock outstanding – September 30, 2020 61,031 As of September 30, 2020 and December 31, 2019, the Company had 25,000,000 shares of preferred stock, $0.01 par value, authorized, with no shares issued or outstanding. The Company historically maintained a share repurchase program, which was allowed to expire on July 29, 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossAccumulated other comprehensive loss, reported as a component of stockholders' equity, increased from $67.7 million at December 31, 2019 to $80.4 million at September 30, 2020, 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 the Company's reportable segments. For the nine months ended September 30, 2020 and 2019, currency translation adjustments recognized as a component of other comprehensive loss were primarily attributable to the United Kingdom and Brazil. As of September 30, 2020, the exchange rates for the British pound and the Brazilian real compared to the U.S. dollar weakened by 2% and 29%, respectively, compared to the exchange rates at December 31, 2019, contributing to other comprehensive loss of $12.7 million reported for the nine months ended September 30, 2020. During the first nine months of 2019, the exchange rate for the British pound and the Brazilian real compared to the U.S. dollar weakened by 4% and 7%, respectively, compared to the exchange rate at December 31, 2018, contributing to other comprehensive loss of $5.5 million reported for the nine months ended September 30, 2019.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Long-Term Incentive Compensation	Long-Term Incentive 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, 2020 (in thousands): Stock Options Service-based Restricted Stock Performance-based Stock Units Outstanding – December 31, 2019 636 1,064 248 Granted — 686 181 Vested — (540) (125) Forfeited (86) (55) — Outstanding – September 30, 2020 550 1,155 304 Weighted average grant date fair value (2020 awards) $ — $ 10.02 $ 11.15 The restricted stock program consists of a combination of service-based restricted stock and performance-based stock units. Service-based restricted stock awards generally vest on a straight-line basis over their term, which is generally three years. Performance-based restricted stock awards generally vest at the end of a three-year period, with the number of shares ultimately issued under the program dependent upon achievement of predefined specific performance measures. 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 outstanding awards is the Company's EBITDA growth rate over a three-year period. During the first quarters of 2020 and 2019, the Company issued conditional long-term cash incentive awards ("Cash Awards") of approximately $2.0 million and $1.4 million, respectively, with the ultimate dollar amount to be awarded ranging from zero to a maximum of $4.0 million for the 2020 Cash Award and from zero to a maximum of $2.7 million for the 2019 Cash Award. The performance measure for these Cash Awards is relative total stockholder return compared to a peer group of companies measured over a three-year period. The ultimate dollar amount to be awarded for the 2020 and 2019 Cash Awards is limited to their targeted award value ($2.0 million and $1.4 million, respectively) if the Company's total stockholder return is negative over the performance period. The obligation related to the Cash Awards is classified as a liability and recognized over the vesting period. Stock-based compensation expense recognized during the three and nine months ended September 30, 2020 totaled $2.1 million and $5.3 million, respectively. Stock-based compensation expense recognized during the three and nine months ended September 30, 2019 totaled $4.2 million and $12.8 million, respectively. As of September 30, 2020, there was $11.3 million of pre-tax compensation costs related to service-based and performance-based stock awards, which will be recognized in future periods as vesting conditions are satisfied.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax benefit for the three and nine month periods ended September 30, 2020 was calculated using a discrete approach. This methodology was used because changes in the Company's results of operations and non-deductible expenses can materially impact the estimated annual effective tax rate. For the three months ended September 30, 2020, the Company's income tax benefit was $7.7 million on a pre-tax loss of $27.6 million, which includes certain non-deductible expenses and discrete tax benefits. This compares to an income tax benefit of $6.2 million on a pre-tax loss of $38.1 million, which includes certain non-deductible expenses, for the three months ended September 30, 2019. For the nine months ended September 30, 2020, the Company's income tax benefit was $54.1 million on a pre-tax loss of $503.7 million, which included non-cash goodwill charges (approximately $313.1 million) and other expenses that are not deductible for income tax purposes. The impact of these non-deductible expenses was partially offset by a $16.4 million discrete tax benefit related to the carryback of U.S. net operating losses under the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. This compares to an income tax benefit of $6.7 million on a pre-tax loss of $63.0 million, which includes certain non-deductible expenses, for the nine months ended September 30, 2019.

Segments and Related Informatio

Segments and Related Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segments and Related Information	Segments and Related Information The Company operates through three reportable segments: Well Site Services, Downhole Technologies and Offshore/Manufactured Products. The Company's reportable segments represent strategic business units that generally offer different products and services. They are managed separately because each business often requires different technologies and marketing strategies. Financial information by business segment for the three and nine months ended September 30, 2020 and 2019 is summarized in the following tables (in thousands). Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended September 30, 2020 Well Site Services – Completion Services $ 34,893 $ 12,914 $ (14,330) $ 1,579 $ 248,715 Drilling Services 2,479 16 458 — 5,166 Total Well Site Services 37,372 12,930 (13,872) 1,579 253,881 Downhole Technologies (1) 18,713 5,701 (12,594) 78 294,768 Offshore/Manufactured Products 78,674 5,401 3,875 686 541,661 Corporate — 219 (8,249) 19 90,476 Total $ 134,759 $ 24,251 $ (30,840) $ 2,362 $ 1,180,786 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended September 30, 2019 Well Site Services – Completion Services $ 103,966 $ 17,024 $ 1,719 $ 6,088 $ 496,684 Drilling Services (2) 12,034 3,164 (36,495) 538 21,464 Total Well Site Services 116,000 20,188 (34,776) 6,626 518,148 Downhole Technologies 42,882 5,309 659 4,045 700,789 Offshore/Manufactured Products 104,815 5,680 11,139 3,147 673,947 Corporate — 189 (11,932) 437 41,080 Total $ 263,697 $ 31,366 $ (34,910) $ 14,255 $ 1,933,964 Revenues Depreciation and Operating income (loss) Capital Total assets Nine months ended September 30, 2020 Well Site Services – Completion Services (3) $ 153,994 $ 41,032 $ (176,408) $ 6,440 $ 248,715 Drilling Services (4) 7,179 302 (5,338) 114 5,166 Total Well Site Services 161,173 41,334 (181,746) 6,554 253,881 Downhole Technologies (5) 74,743 16,904 (216,395) 2,892 294,768 Offshore/Manufactured Products (6) 264,782 16,505 (82,202) 2,208 541,661 Corporate — 563 (25,633) (377) 90,476 Total $ 500,698 $ 75,306 $ (505,976) $ 11,277 $ 1,180,786 Revenues Depreciation and Operating income (loss) Capital Total assets Nine months ended September 30, 2019 Well Site Services – Completion Services $ 307,928 $ 51,558 $ (2,282) $ 24,971 $ 496,684 Drilling Services (2) 32,430 9,729 (43,655) 2,452 21,464 Total Well Site Services 340,358 61,287 (45,937) 27,423 518,148 Downhole Technologies 143,912 15,631 3,251 11,121 700,789 Offshore/Manufactured Products 294,723 17,240 26,207 6,413 673,947 Corporate — 642 (35,666) 875 41,080 Total $ 778,993 $ 94,800 $ (52,145) $ 45,832 $ 1,933,964 ________________ (1) Operating loss includes a non-cash inventory impairment charge of $5.9 million to reduce the carrying of the Downhole Technologies reporting unit's inventory to its estimated realizable value. (2) Operating loss includes a non-cash fixed asset impairment charge of $33.7 million to reduce the carrying value of the Drilling Services reporting unit's fixed assets to their estimated realizable value. (3) Operating loss includes a non-cash goodwill impairment charge of $127.1 million to reduce the carrying value of the Completion Services reporting unit to its estimated fair value, a non-cash inventory impairment charge of $9.0 million to reduce the carrying value of the Completion Services reporting unit's inventory to its estimated realizable value and a non-cash fixed asset impairment charge of $3.0 million to reduce the carrying value of certain of the Completion Services reporting unit's facilities to their estimated realizable value. (4) Operating loss includes a non-cash fixed asset impairment charge of $5.2 million to further reduce the carrying value of the Drilling Services reporting unit's fixed assets to their estimated realizable value. (5) Operating loss includes a non-cash goodwill impairment charge of $192.5 million to reduce the carrying value of the Downhole Technologies reporting unit to its estimated fair value and a non-cash inventory impairment charge of $5.9 million to reduce the carrying value of the Downhole Technologies reporting unit's inventory to its estimated realizable value. (6) Operating loss includes a non-cash goodwill impairment charge of $86.5 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit to its estimated fair value and a non-cash inventory impairment charge of $16.2 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit's inventory to its estimated net realizable value. See Note 3, "Asset Impairments and Other Charges" and Note 4, "Details of Selected Balance Sheet Accounts," for further discussion of these and other charges recorded during the first nine months of 2020 and 2019. The following tables provide supplemental disaggregated revenue from contracts with customers by business segment for the three and nine months ended September 30, 2020 and 2019 (in thousands): Well Site Services Downhole Technologies Offshore/Manufactured Products Total 2020 2019 2020 2019 2020 2019 2020 2019 Three months ended September 30 Major revenue categories - Project-driven products $ — $ — $ — $ — $ 41,004 $ 39,474 $ 41,004 $ 39,474 Short-cycle: Completion products and services 34,893 103,966 18,713 42,882 3,664 26,710 57,270 173,558 Drilling services 2,479 12,034 — — — — 2,479 12,034 Other products — — — — 4,200 7,988 4,200 7,988 Total short-cycle 37,372 116,000 18,713 42,882 7,864 34,698 63,949 193,580 Other products and services — — — — 29,806 30,643 29,806 30,643 $ 37,372 $ 116,000 $ 18,713 $ 42,882 $ 78,674 $ 104,815 $ 134,759 $ 263,697 Well Site Services Downhole Technologies Offshore/Manufactured Products Total 2020 2019 2020 2019 2020 2019 2020 2019 Nine months ended September 30 Major revenue categories - Project-driven products $ — $ — $ — $ — $ 129,157 $ 105,236 $ 129,157 $ 105,236 Short-cycle: Completion products and services 153,994 307,928 74,743 143,912 22,080 80,250 250,817 532,090 Drilling services 7,179 32,430 — — — — 7,179 32,430 Other products — — — — 19,254 21,472 19,254 21,472 Total short-cycle 161,173 340,358 74,743 143,912 41,334 101,722 277,250 585,992 Other products and services — — — — 94,291 87,765 94,291 87,765 $ 161,173 $ 340,358 $ 74,743 $ 143,912 $ 264,782 $ 294,723 $ 500,698 $ 778,993 No customer individually accounted for 10% of the Company's consolidated revenue for the nine months ended September 30, 2020 and 2019. Revenues from products and services transferred to customers over time accounted for approximately 62% and 67% of consolidated revenues for the nine months ended September 30, 2020 and 2019, respectively. The balance of revenues for the respective periods relates to products and services transferred to customers at a point in time. As of September 30, 2020, the Company had $157 million of remaining backlog related to contracts with an original expected duration of greater than one year. Approximately 14% of this remaining backlog is expected to be recognized as revenue over the remaining three months of 2020, with an additional 38% in 2021 and the balance thereafter.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe impact of the recent COVID-19 pandemic and related economic, business and market disruptions continues to evolve and its future effects remain uncertain. The most direct and immediate impact that the Company has experienced and expects to continue to experience from the COVID-19 pandemic is decreased demand for its products and services due to lower activity levels by its customers resulting from the precipitous decline in crude oil prices. The overall impact of the pandemic and oil price collapse on the Company and its customers will depend on many factors, many of which are beyond management's control and knowledge. In response to public health concerns related to COVID-19, many federal, state, local and other authorities around the world have imposed mandatory regulations directing individuals to stay at home and have limited their ability to travel domestically or internationally. In certain cases, when travel is permitted, a multi-week quarantine period is required before an individual can work in the area. Additionally, rules and regulations regarding employer responsibilities continue to be promulgated. Facility closures, quarantines, travel restrictions, and possible future workforce shortages may, among numerous other impacts, result in delays by the Company in fulfilling its existing contractual obligations to its customers, which could result in adverse financial consequences. Additionally, the Company procures a variety of raw materials and component products, including steel, in the manufacture of its products from companies which may be impacted by similar challenges. The Company continues to monitor the effect of COVID-19 on its employees, customers, critical suppliers and other stakeholders. The ultimate magnitude and duration of the COVID-19 pandemic, resulting governmental restrictions placing limitations on the mobility and ability to work of the worldwide population, and the related impact on crude oil prices and the U.S. and global economy and capital markets remains uncertain. Following the Company's acquisition of GEODynamics in January 2018, the Company determined that certain steel products historically imported by GEODynamics from China for use in its manufacturing process may potentially be subject to anti-dumping and countervailing duties based on clarifications/decisions rendered by the U.S. Department of Commerce and the U.S. Court of International Trade. Following these findings, the Company commenced an internal review of this matter and ceased further purchases of these potentially affected Chinese products. As part of the Company's internal review, the Company engaged trade counsel and decided to voluntarily disclose this matter to U.S. Customs and Border Protection in September 2018. In connection with the acquisition of GEODynamics, the seller of GEODynamics (the "Seller") agreed to indemnify and hold the Company harmless against certain claims related to matters such as this, and the Company has provided notice to and asserted indemnification claims against the Seller. Additionally, the Company's agreements with the Seller allow the Company to set off payments due under the $25.0 million promissory note (see Note 6, "Long-term Debt") issued to the Seller in respect of indemnification claims. Such note was scheduled to mature on July 12, 2019, but, because the Company has provided notice to and asserted indemnification claims, the maturity date of the note is extended until the resolution of such claim. Although, as explained below, the Seller now claims the note has matured, the Company believes its position is correct and expects that the amount ultimately paid in respect of such note will be reduced as a result of any payments made to U.S. Customs and Border Protection associated with these indemnification claims. In August 2020, the Seller filed a breach of contract suit against the Company and one of its wholly-owned subsidiaries alleging that payments due under the promissory note discussed above have not been repaid in accordance with the terms of the note. Additionally, the Seller alleges in this suit that it is entitled to approximately $19 million in U.S. federal income tax carryback claims received by the Company under the provisions of the CARES Act legislation enacted in March 2020. The Company denies the validity of these breach of contract claims and plans to vigorously defend against this lawsuit. Additionally, in the ordinary course of conducting its business, the Company becomes 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. The Company is a party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning its commercial operations, products, employees and other matters, including occasional claims by individuals alleging exposure to hazardous materials as a result of the Company's products or operations. Some of these claims relate to matters occurring prior to the acquisition of businesses, and some relate to businesses the Company has sold. In certain cases, the Company is entitled to indemnification from the sellers of businesses and, in other cases, the Company has indemnified the buyers of businesses. Although the Company can give no assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on the Company, management believes 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 the Company's consolidated financial position, results of operations or liquidity.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2020
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 August 2020, the FASB issued updated guidance to simplify the accounting for convertible instruments and contracts in an entity's own equity. This new guidance will eliminate the current requirement that the carrying value of convertible debt instruments, including the Company's 1.50% convertible senior notes due 2023 (the "Notes"), be allocated between the debt and equity components. As permitted under the standard, the Company plans to adopt the new guidance on January 1, 2021 using the modified retrospective transition method. Upon initial evaluation, the Company believes the key changes upon adoption will be to increase the carrying value of the debt component of the Notes and reduce the reported level of interest expense recognized over the remaining life of the Notes. Based on the $157.4 million principal amount of the Notes outstanding as of September 30, 2020, the Company estimates that the adoption of the standard on January 1, 2021 will result in a $12.2 million increase in the net carrying value of the Notes, a $3.7 million decrease in deferred income taxes and an $8.5 million net decrease in stockholders' equity. Beginning on January 1, 2021, the effective interest rate associated with the Notes is expected to decrease from approximately 6% to approximately 2%, which compares to the contractual cash interest rate of 1.50%.

Asset Impairments and Other C_2

Asset Impairments and Other Charges (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Asset Impairment Charges	As a result of these events, actions and assessments, the Company recorded the following charges during the first quarter of 2020 (in thousands): Completion Services Drilling Services Downhole Technologies Offshore/ Pre-tax Total Tax After-tax Total Impairments of goodwill $ 127,054 $ — $ 192,502 $ 86,500 $ 406,056 $ 19,600 $ 386,456 Impairments of fixed assets — 5,198 — — 5,198 1,092 4,106 Impairments of inventories (Note 4) 8,981 — — 16,249 25,230 4,736 20,494 Severance and facility closure costs 331 217 — 112 660 139 521 During the second and third quarters of 2020, the Company further reduced its workforce and closed additional facilities in the United States and continued to assess the carrying value of its assets based on the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands): Completion Services Downhole Technologies Offshore/ Manufactured Products Corporate Pre-tax Total Tax After-tax Total Second quarter 2020 Impairments of fixed assets $ 2,992 $ — $ — $ — $ 2,992 $ 628 $ 2,364 Severance and facility closure costs 3,544 1,315 322 216 5,397 1,133 4,264 Third quarter 2020 Impairments of inventories (Note 4) $ — $ 5,921 $ — $ — $ 5,921 $ 1,243 $ 4,678 Severance and facility closure costs — — 288 — 288 60 228

Details of Selected Balance S_2

Details of Selected Balance Sheet Accounts (Tables)	9 Months Ended
	Sep. 30, 2020
Details of Selected Balance Sheet Accounts [Abstract]
Schedule of Accounts Receivable, Net	Additional information regarding selected balance sheet accounts as of September 30, 2020 and December 31, 2019 is presented below (in thousands): September 30, December 31, Accounts receivable, net: Trade $ 114,204 $ 178,813 Unbilled revenue 25,461 28,341 Contract assets 25,276 26,034 Other 3,443 9,044 Total accounts receivable 168,384 242,232 Allowance for doubtful accounts (10,200) (8,745) $ 158,184 $ 233,487 Allowance for doubtful accounts as a percentage of total accounts receivable 6 % 4 %
Contract with Customer, Asset and Liability	September 30, December 31, Deferred revenue (contract liabilities) $ 48,851 $ 17,761
Summary of Activity in Allowance for Doubtful Accounts	The following provides a summary of activity in the allowance for doubtful accounts for the nine months ended September 30, 2020 and 2019 (in thousands): 2020 2019 Allowance for doubtful accounts – January 1 $ 8,745 $ 6,701 Provisions 2,787 1,222 Write-offs (2,490) (894) Other 1,158 (58) Allowance for doubtful accounts – September 30 10,200 6,971
Schedule of Inventory, Net	September 30, December 31, Inventories, net: Finished goods and purchased products $ 96,753 $ 107,691 Work in process 23,390 21,963 Raw materials 102,621 110,719 Total inventories 222,764 240,373 Allowance for excess or obsolete inventory (42,267) (19,031) $ 180,497 $ 221,342
Schedule of Property, Plant and Equipment, Net	September 30, December 31, Property, plant and equipment, net: Land $ 34,046 $ 37,507 Buildings and leasehold improvements 264,434 273,384 Machinery and equipment 238,579 246,826 Completion Services equipment 507,769 510,737 Office furniture and equipment 35,419 45,309 Vehicles 82,161 97,264 Construction in progress 7,777 13,281 Total property, plant and equipment 1,170,185 1,224,308 Accumulated depreciation (779,223) (764,584) $ 390,962 $ 459,724
Schedule of Other Noncurrent Assets	September 30, December 31, Other noncurrent assets: Deferred compensation plan $ 22,767 $ 22,268 Other 8,997 6,433 $ 31,764 $ 28,701
Schedule of Accrued Liabilities	September 30, December 31, Accrued liabilities: Accrued compensation $ 20,146 $ 27,428 Insurance liabilities 8,079 9,108 Accrued taxes, other than income taxes 12,427 3,424 Accrued interest 2,052 2,387 Accrued commissions 1,934 1,481 Other 5,117 5,012 $ 49,755 $ 48,840
Schedule of Goodwill	Goodwill: Well Site Services Downhole Technologies Offshore/ Total Completion Services Drilling Services Subtotal Balance as of December 31, 2019 Goodwill $ 221,582 $ 22,767 $ 244,349 $ 357,502 $ 162,750 $ 764,601 Accumulated impairment losses (94,528) (22,767) (117,295) (165,000) — (282,295) 127,054 — 127,054 192,502 162,750 482,306 Goodwill impairments (1) (127,054) — (127,054) (192,502) (86,500) (406,056) Foreign currency translation — — — — (199) (199) Balance as of September 30, 2020 $ — $ — $ — $ — $ 76,051 $ 76,051 ________________ (1) See Note 3, "Asset Impairments and Other Charges" for discussion of first quarter 2020 goodwill impairments.
Schedule of Finite-Lived Intangible Assets	Other Intangible Assets: September 30, 2020 December 31, 2019 Gross Accumulated Net Carrying Amount Gross Accumulated Net Carrying Amount Customer relationships $ 168,271 $ 52,598 $ 115,673 $ 168,278 $ 44,296 $ 123,982 Patents/Technology/Know-how 75,741 24,617 51,124 85,919 30,791 55,128 Noncompete agreements 16,010 13,542 2,468 17,125 11,061 6,064 Tradenames and other 53,708 11,169 42,539 53,708 8,791 44,917 $ 313,730 $ 101,926 $ 211,804 $ 325,030 $ 94,939 $ 230,091

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
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, 2020 and 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Numerators: Net loss $ (19,969) $ (31,868) $ (449,636) $ (56,256) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share (19,969) (31,868) (449,636) (56,256) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share $ (19,969) $ (31,868) $ (449,636) $ (56,256) Denominators: Weighted average number of common shares outstanding 61,028 60,493 60,928 60,400 Less: Weighted average number of unvested restricted stock awards outstanding (1,157) (1,070) (1,140) (1,038) Denominator for basic and diluted net loss per share 59,871 59,423 59,788 59,362 Net loss per share: Basic $ (0.33) $ (0.54) $ (7.52) $ (0.95) Diluted (0.33) (0.54) (7.52) (0.95)

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2020 and December 31, 2019, long-term debt consisted of the following (in thousands): September 30, December 31, Revolving credit facility due January 2022 (1) $ 17,682 $ 50,534 1.50% convertible senior notes due February 2023 (2) 141,692 167,594 Promissory note 25,000 25,000 Other debt and finance lease obligations 4,772 5,041 Total debt 189,146 248,169 Less: Current portion (25,620) (25,617) Total long-term debt $ 163,526 $ 222,552 ____________________ (1) Presented net of $1.3 million and $1.4 million of unamortized debt issuance costs as of September 30, 2020 and December 31, 2019, respectively. (2) The outstanding principal amount of the 1.50% convertible senior notes was $157.4 million and $192.3 million as of September 30, 2020 and December 31, 2019, respectively. The following table presents the carrying amount of the Notes in the consolidated balance sheets as of September 30, 2020 and December 31, 2019 (in thousands): September 30, December 31, Principal amount of the liability component $ 157,369 $ 192,250 Less: Unamortized discount 13,667 21,544 Less: Unamortized issuance costs 2,010 3,112 Net carrying amount of the liability component $ 141,692 $ 167,594 Net carrying amount of the equity component $ 25,683 $ 25,683

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following table provides details with respect to the changes to the number of shares of common stock, $0.01 par value, outstanding during the first nine months of 2020 (in thousands): Shares of common stock outstanding – December 31, 2019 60,501 Restricted stock awards, net of forfeitures 755 Shares withheld for taxes on vesting of stock awards and transferred to treasury (225) Shares of common stock outstanding – September 30, 2020 61,031

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [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, 2020 (in thousands): Stock Options Service-based Restricted Stock Performance-based Stock Units Outstanding – December 31, 2019 636 1,064 248 Granted — 686 181 Vested — (540) (125) Forfeited (86) (55) — Outstanding – September 30, 2020 550 1,155 304 Weighted average grant date fair value (2020 awards) $ — $ 10.02 $ 11.15

Segments and Related Informat_2

Segments and Related Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by business segment for the three and nine months ended September 30, 2020 and 2019 is summarized in the following tables (in thousands). Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended September 30, 2020 Well Site Services – Completion Services $ 34,893 $ 12,914 $ (14,330) $ 1,579 $ 248,715 Drilling Services 2,479 16 458 — 5,166 Total Well Site Services 37,372 12,930 (13,872) 1,579 253,881 Downhole Technologies (1) 18,713 5,701 (12,594) 78 294,768 Offshore/Manufactured Products 78,674 5,401 3,875 686 541,661 Corporate — 219 (8,249) 19 90,476 Total $ 134,759 $ 24,251 $ (30,840) $ 2,362 $ 1,180,786 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended September 30, 2019 Well Site Services – Completion Services $ 103,966 $ 17,024 $ 1,719 $ 6,088 $ 496,684 Drilling Services (2) 12,034 3,164 (36,495) 538 21,464 Total Well Site Services 116,000 20,188 (34,776) 6,626 518,148 Downhole Technologies 42,882 5,309 659 4,045 700,789 Offshore/Manufactured Products 104,815 5,680 11,139 3,147 673,947 Corporate — 189 (11,932) 437 41,080 Total $ 263,697 $ 31,366 $ (34,910) $ 14,255 $ 1,933,964 Revenues Depreciation and Operating income (loss) Capital Total assets Nine months ended September 30, 2020 Well Site Services – Completion Services (3) $ 153,994 $ 41,032 $ (176,408) $ 6,440 $ 248,715 Drilling Services (4) 7,179 302 (5,338) 114 5,166 Total Well Site Services 161,173 41,334 (181,746) 6,554 253,881 Downhole Technologies (5) 74,743 16,904 (216,395) 2,892 294,768 Offshore/Manufactured Products (6) 264,782 16,505 (82,202) 2,208 541,661 Corporate — 563 (25,633) (377) 90,476 Total $ 500,698 $ 75,306 $ (505,976) $ 11,277 $ 1,180,786 Revenues Depreciation and Operating income (loss) Capital Total assets Nine months ended September 30, 2019 Well Site Services – Completion Services $ 307,928 $ 51,558 $ (2,282) $ 24,971 $ 496,684 Drilling Services (2) 32,430 9,729 (43,655) 2,452 21,464 Total Well Site Services 340,358 61,287 (45,937) 27,423 518,148 Downhole Technologies 143,912 15,631 3,251 11,121 700,789 Offshore/Manufactured Products 294,723 17,240 26,207 6,413 673,947 Corporate — 642 (35,666) 875 41,080 Total $ 778,993 $ 94,800 $ (52,145) $ 45,832 $ 1,933,964 ________________ (1) Operating loss includes a non-cash inventory impairment charge of $5.9 million to reduce the carrying of the Downhole Technologies reporting unit's inventory to its estimated realizable value. (2) Operating loss includes a non-cash fixed asset impairment charge of $33.7 million to reduce the carrying value of the Drilling Services reporting unit's fixed assets to their estimated realizable value. (3) Operating loss includes a non-cash goodwill impairment charge of $127.1 million to reduce the carrying value of the Completion Services reporting unit to its estimated fair value, a non-cash inventory impairment charge of $9.0 million to reduce the carrying value of the Completion Services reporting unit's inventory to its estimated realizable value and a non-cash fixed asset impairment charge of $3.0 million to reduce the carrying value of certain of the Completion Services reporting unit's facilities to their estimated realizable value. (4) Operating loss includes a non-cash fixed asset impairment charge of $5.2 million to further reduce the carrying value of the Drilling Services reporting unit's fixed assets to their estimated realizable value. (5) Operating loss includes a non-cash goodwill impairment charge of $192.5 million to reduce the carrying value of the Downhole Technologies reporting unit to its estimated fair value and a non-cash inventory impairment charge of $5.9 million to reduce the carrying value of the Downhole Technologies reporting unit's inventory to its estimated realizable value. (6) Operating loss includes a non-cash goodwill impairment charge of $86.5 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit to its estimated fair value and a non-cash inventory impairment charge of $16.2 million to reduce the carrying value of the Offshore/Manufactured Products reporting unit's inventory to its estimated net realizable value.
Supplemental Revenue Information by Segments	The following tables provide supplemental disaggregated revenue from contracts with customers by business segment for the three and nine months ended September 30, 2020 and 2019 (in thousands): Well Site Services Downhole Technologies Offshore/Manufactured Products Total 2020 2019 2020 2019 2020 2019 2020 2019 Three months ended September 30 Major revenue categories - Project-driven products $ — $ — $ — $ — $ 41,004 $ 39,474 $ 41,004 $ 39,474 Short-cycle: Completion products and services 34,893 103,966 18,713 42,882 3,664 26,710 57,270 173,558 Drilling services 2,479 12,034 — — — — 2,479 12,034 Other products — — — — 4,200 7,988 4,200 7,988 Total short-cycle 37,372 116,000 18,713 42,882 7,864 34,698 63,949 193,580 Other products and services — — — — 29,806 30,643 29,806 30,643 $ 37,372 $ 116,000 $ 18,713 $ 42,882 $ 78,674 $ 104,815 $ 134,759 $ 263,697 Well Site Services Downhole Technologies Offshore/Manufactured Products Total 2020 2019 2020 2019 2020 2019 2020 2019 Nine months ended September 30 Major revenue categories - Project-driven products $ — $ — $ — $ — $ 129,157 $ 105,236 $ 129,157 $ 105,236 Short-cycle: Completion products and services 153,994 307,928 74,743 143,912 22,080 80,250 250,817 532,090 Drilling services 7,179 32,430 — — — — 7,179 32,430 Other products — — — — 19,254 21,472 19,254 21,472 Total short-cycle 161,173 340,358 74,743 143,912 41,334 101,722 277,250 585,992 Other products and services — — — — 94,291 87,765 94,291 87,765 $ 161,173 $ 340,358 $ 74,743 $ 143,912 $ 264,782 $ 294,723 $ 500,698 $ 778,993

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - (Details) - 1.5% Convertible Unsecured Senior Notes - USD ($) $ in Thousands	Jan. 01, 2021	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jan. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stated interest rate		1.50%		1.50%
Convertible Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount of the liability component		$ 157,369	$ 192,250
Effective interest rate percentage					6.00%
Stated interest rate		1.50%
Convertible Debt | Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective interest rate percentage	2.00%
Convertible Debt | Forecast | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument, increase net	$ 12,200
Decrease in deferred income taxes	3,700
Net decrease, stockholder's equity	$ 8,500

Asset Impairments and Other C_3

Asset Impairments and Other Charges - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended				9 Months Ended
	Mar. 31, 2020usd_per_barrel	Sep. 30, 2020USD ($)usd_per_barrel	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)usd_per_barrel	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)usd_per_barrelreporting_unit	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Percentage decline in crude oil prices	50.00%
Brent crude oil, price per barrel | usd_per_barrel	15	43		15		43
WTI crude oil, price per barrel | usd_per_barrel	21	41		21		41
Number of reporting units with goodwill balances | reporting_unit						3
Goodwill, net		$ 76,051				$ 76,051		$ 482,306
Impairments of goodwill		0		$ 406,056	$ 0	$ 406,056	$ 0
Number of reporting units | reporting_unit						4
Impairments of fixed assets		0	$ 2,992	5,198	33,697	$ 8,190	$ 33,697
Offshore/Manufactured Products
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, net		76,051				76,051		162,750
Impairments of goodwill				$ 86,500		86,500
Reporting unit, fair value determination, percentage increase in discount rate				0.50%
Goodwill, impairment loss, increase due to increase in discount rate				$ 10,000
Impairments of fixed assets				0
Total Well Site Services
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, net		0				0		127,054
Impairments of goodwill						127,054
Total Well Site Services | Drilling Services
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, net		$ 0				0		$ 0
Impairments of goodwill				0		$ 0
Impairments of fixed assets			$ 3,000	$ 5,198	$ 33,700
Minimum
Impaired Long-Lived Assets Held and Used [Line Items]
Reporting unit, fair value determination, discount rate				16.80%
Maximum
Impaired Long-Lived Assets Held and Used [Line Items]
Reporting unit, fair value determination, discount rate				18.50%

Asset Impairments and Other C_4

Asset Impairments and Other Charges - Schedule of Asset Impairments (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill	$ 0		$ 406,056	$ 0	$ 406,056	$ 0
Impairment of goodwill loss, tax			19,600
Impairment of goodwill loss, net of tax			386,456
Impairments of fixed assets	0	$ 2,992	5,198	33,697	8,190	33,697
Impairment of fixed assets, tax		628	1,092
Impairment of fixed assets, net of tax		2,364	4,106
Impairments of inventories	5,921		25,230		31,151	$ 0
Impairment of inventories, tax	1,243		4,736
Impairment of inventories, net of tax	4,678		20,494
Severance and facility closure costs	288	5,397	660
Severance and facility closure costs, tax	60	1,133	139
Severance and facility closure costs, net of tax	228	4,264	521
Corporate
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of fixed assets		0
Impairments of inventories	0
Severance and facility closure costs	0	216
Total Well Site Services
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill					127,054
Total Well Site Services | Completion Services
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill			127,054		127,054
Impairments of fixed assets		3,000	0
Impairments of inventories			8,981		9,000
Severance and facility closure costs			331
Total Well Site Services | Drilling Services
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill			0		0
Impairments of fixed assets		3,000	5,198	$ 33,700
Impairments of inventories			0
Severance and facility closure costs			217
Total Well Site Services | Operating Segments | Completion Services
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of fixed assets		2,992
Impairments of inventories	0
Severance and facility closure costs	0	3,544
Downhole Technologies
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill			192,502		192,502
Impairments of fixed assets			0		5,900
Impairments of inventories			0
Severance and facility closure costs			0
Downhole Technologies | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of fixed assets		0
Impairments of inventories	5,921
Severance and facility closure costs	0	1,315
Offshore/ Manufactured Products
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill			86,500		86,500
Impairments of fixed assets			0
Impairments of inventories			16,249		16,200
Severance and facility closure costs			$ 112
Offshore/ Manufactured Products | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of goodwill					$ 86,500
Impairments of fixed assets		0
Impairments of inventories	0
Severance and facility closure costs	$ 288	$ 322

Details of Selected Balance S_3

Details of Selected Balance Sheet Accounts - Accounts Receivable (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 168,384	$ 242,232
Allowance for doubtful accounts	(10,200)	(8,745)
Accounts receivable, net	$ 158,184	$ 233,487
Allowance for doubtful accounts as a percentage of total accounts receivable	6.00%	4.00%
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 114,204	$ 178,813
Unbilled revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	25,461	28,341
Contract assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	25,276	26,034
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 3,443	$ 9,044

Details of Selected Balance S_4

Details of Selected Balance Sheet Accounts - Contract Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Details of Selected Balance Sheet Accounts [Abstract]
Deferred revenue (contract liabilities)	$ 48,851	$ 17,761

Details of Selected Balance S_5

Details of Selected Balance Sheet Accounts - Narrative (Details) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)service	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)service	Jun. 30, 2019service
Concentration Risk [Line Items]
Increase (decrease) in contract with customer, asset					$ (800)
Contract with customer, asset, reclassified to receivable					22,800
Contract with customer, asset, increase due to revenue recognized					22,000
Deferred revenue					31,114	$ 11,793
Contract with customer, liability, increase due to billings					46,400
Contract with customer, liability, revenue recognized					15,200
Impairments of inventories	$ 5,921		$ 25,230		31,151	0
Depreciation	18,000			$ 24,600	56,600	74,500
Impairments of fixed assets	0	$ 2,992	5,198	33,697	8,190	33,697
Amortization	$ 6,200			$ 6,800	18,700	$ 20,300
Total Well Site Services | Drilling Services
Concentration Risk [Line Items]
Impairments of inventories			0
Number of rigs | service				9		9	34
Impairments of fixed assets		3,000	5,198	$ 33,700
Total Well Site Services | Completion Services
Concentration Risk [Line Items]
Impairments of inventories			8,981		$ 9,000
Impairments of fixed assets		$ 3,000	$ 0
UNITED STATES | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage					62.00%
UNITED KINGDOM | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage					17.00%
SINGAPORE | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage					12.00%

Details of Selected Balance S_6

Details of Selected Balance Sheet Accounts - Activity in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts beginning balance	$ 8,745	$ 6,701
Provisions	2,787	1,222
Write-offs	(2,490)	(894)
Other	1,158	(58)
Allowance for doubtful accounts ending balance	$ 10,200	$ 6,971

Details of Selected Balance S_7

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Details of Selected Balance Sheet Accounts [Abstract]
Finished goods and purchased products	$ 96,753	$ 107,691
Work in process	23,390	21,963
Raw materials	102,621	110,719
Total inventories	222,764	240,373
Allowance for excess or obsolete inventory	(42,267)	(19,031)
Inventories, net	$ 180,497	$ 221,342

Details of Selected Balance S_8

Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,170,185	$ 1,224,308
Accumulated depreciation	(779,223)	(764,584)
Property, plant, and equipment, net	390,962	459,724
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	34,046	37,507
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	264,434	273,384
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	238,579	246,826
Completion Services equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	507,769	510,737
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	35,419	45,309
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	82,161	97,264
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 7,777	$ 13,281

Details of Selected Balance S_9

Details of Selected Balance Sheet Accounts - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Details of Selected Balance Sheet Accounts [Abstract]
Deferred compensation plan	$ 22,767	$ 22,268
Other	8,997	6,433
Other noncurrent assets	$ 31,764	$ 28,701

Details of Selected Balance _10

Details of Selected Balance Sheet Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Details of Selected Balance Sheet Accounts [Abstract]
Accrued compensation	$ 20,146	$ 27,428
Insurance liabilities	8,079	9,108
Accrued taxes, other than income taxes	12,427	3,424
Accrued interest	2,052	2,387
Accrued commissions	1,934	1,481
Other	5,117	5,012
Accrued liabilities	$ 49,755	$ 48,840

Details of Selected Balance _11

Details of Selected Balance Sheet Accounts - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill [Line Items]
Goodwill						$ 764,601
Accumulated impairment losses						(282,295)
Changes in carrying value of goodwill
Goodwill, net, beginning of period		$ 482,306		$ 482,306
Goodwill impairment	$ 0	(406,056)	$ 0	(406,056)	$ 0
Foreign currency translation				(199)
Goodwill, net, end of period	76,051			76,051
Total Well Site Services
Goodwill [Line Items]
Goodwill						244,349
Accumulated impairment losses						(117,295)
Changes in carrying value of goodwill
Goodwill, net, beginning of period		127,054		127,054
Goodwill impairment				(127,054)
Foreign currency translation				0
Goodwill, net, end of period	0			0
Total Well Site Services | Completion Services
Goodwill [Line Items]
Goodwill						221,582
Accumulated impairment losses						(94,528)
Changes in carrying value of goodwill
Goodwill, net, beginning of period		127,054		127,054
Goodwill impairment		(127,054)		(127,054)
Foreign currency translation				0
Goodwill, net, end of period	0			0
Total Well Site Services | Drilling Services
Goodwill [Line Items]
Goodwill						22,767
Accumulated impairment losses						(22,767)
Changes in carrying value of goodwill
Goodwill, net, beginning of period		0		0
Goodwill impairment		0		0
Foreign currency translation				0
Goodwill, net, end of period	0			0
Downhole Technologies
Goodwill [Line Items]
Goodwill						357,502
Accumulated impairment losses						(165,000)
Changes in carrying value of goodwill
Goodwill, net, beginning of period		192,502		192,502
Goodwill impairment		(192,502)		(192,502)
Foreign currency translation				0
Goodwill, net, end of period	0			0
Offshore/ Manufactured Products
Goodwill [Line Items]
Goodwill						162,750
Accumulated impairment losses						$ 0
Changes in carrying value of goodwill
Goodwill, net, beginning of period		162,750		162,750
Goodwill impairment		$ (86,500)		(86,500)
Foreign currency translation				(199)
Goodwill, net, end of period	$ 76,051			$ 76,051

Details of Selected Balance _12

Details of Selected Balance Sheet Accounts - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 313,730	$ 325,030
Accumulated Amortization	101,926	94,939
Net Carrying Amount	211,804	230,091
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	168,271	168,278
Accumulated Amortization	52,598	44,296
Net Carrying Amount	115,673	123,982
Patents/Technology/Know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	75,741	85,919
Accumulated Amortization	24,617	30,791
Net Carrying Amount	51,124	55,128
Noncompete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,010	17,125
Accumulated Amortization	13,542	11,061
Net Carrying Amount	2,468	6,064
Tradenames and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	53,708	53,708
Accumulated Amortization	11,169	8,791
Net Carrying Amount	$ 42,539	$ 44,917

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerators:
Net loss	$ (19,969)	$ (31,868)	$ (449,636)	$ (56,256)
Less: Income attributable to unvested restricted stock awards	0	0	0	0
Numerator for basic net loss per share	(19,969)	(31,868)	(449,636)	(56,256)
Effect of dilutive securities:
Unvested restricted stock awards	0	0	0	0
Numerator for diluted net loss per share	$ (19,969)	$ (31,868)	$ (449,636)	$ (56,256)
Denominators:
Weighted average number of common shares outstanding (in shares)	61,028	60,493	60,928	60,400
Less: Weighted average number of unvested restricted stock awards outstanding (in shares)	(1,157)	(1,070)	(1,140)	(1,038)
Denominator for basic and diluted net loss per share (in shares)	59,871	59,423	59,788	59,362
Net loss per share:
Basic (in dollars per share)	$ (0.33)	$ (0.54)	$ (7.52)	$ (0.95)
Diluted (in dollars per share)	$ (0.33)	$ (0.54)	$ (7.52)	$ (0.95)

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	560	643	595	665
1.5% Convertible Unsecured Senior Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stated interest rate	1.50%	1.50%	1.50%	1.50%

Long-term Debt - Summary of Lon

Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jan. 12, 2018
Debt Instrument [Line Items]
Total debt	$ 189,146	$ 248,169
Less: Current portion	(25,620)	(25,617)
Long-term debt	163,526	222,552
Unamortized debt issuance costs	$ 1,300	1,400
1.5% Convertible Unsecured Senior Notes Due February 2023
Debt Instrument [Line Items]
Stated interest rate	1.50%		1.50%
Convertible Debt
Debt Instrument [Line Items]
Total debt	$ 141,692	167,594
Convertible Debt | 1.5% Convertible Unsecured Senior Notes Due February 2023
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 2,010	3,112
Stated interest rate	1.50%
Long-term debt, gross	$ 157,369	192,250
Unsecured Debt
Debt Instrument [Line Items]
Total debt	25,000	25,000
Stated interest rate				2.50%
Other debt and finance lease obligations
Debt Instrument [Line Items]
Total debt	4,772	5,041
Revolving Credit Facility Due January 2022
Debt Instrument [Line Items]
Total debt	$ 17,682	$ 50,534

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	Jun. 17, 2020USD ($)	Jan. 30, 2018USD ($)day$ / shares	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 16, 2020	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Oct. 01, 2020USD ($)	Jan. 31, 2018USD ($)	Jan. 12, 2018
Debt Instrument [Line Items]
Repayments of convertible debt							$ 20,078,000	$ 858,000
Gain on extinguishment of debt							$ 10,721,000	$ 0
Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate												2.50%
Debt instrument, face amount											$ 25,000,000
1.5% Convertible Unsecured Senior Notes Due February 2023
Debt Instrument [Line Items]
Stated interest rate			1.50%		1.50%		1.50%	1.50%	1.50%
1.5% Convertible Unsecured Senior Notes Due February 2023 | Convertible Debt
Debt Instrument [Line Items]
Stated interest rate			1.50%				1.50%		1.50%
Debt instrument, face amount		$ 200,000,000
Debt Instrument, principal amount repurchased			$ 17,200,000				$ 34,900,000		$ 42,600,000
Repayments of convertible debt			9,500,000				20,100,000		26,800,000
Debt instrument, liability component repurchased			15,400,000				30,800,000
Gain on extinguishment of debt			5,900,000				10,700,000
Effective interest rate percentage		6.00%
Interest expense			2,300,000		$ 2,600,000		7,200,000	$ 7,700,000
Interest expense, contractual interest			600,000		$ 800,000		2,000,000	$ 2,300,000
Conversion ratio		0.0222748
Conversion price (in dollars per share) | $ / shares		$ 44.89
Percentage of conversion price		130.00%
Threshold trading days | day		20
Threshold consecutive trading days | day		30
Threshold consecutive trading days, sale price per share | day		5
Measurement period | day		5
Percentage of sales price per share		98.00%
Amount of indebtedness in event of default		$ 40,000,000
Revolving Credit Facility Due January 2022
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000	350,000,000
Covenant suspension period, borrowing availability	85.00%
Consolidated net book value of eligible receivables	70.00%
Consolidated net book value of eligible inventory	20.00%
Long-term line of credit			19,000,000				19,000,000		19,000,000
Letters of credit outstanding			31,200,000				$ 31,200,000		31,200,000
Remaining borrowing capacity										$ 83,800,000
Commitment fee percentage	0.50%
Unamortized debt issuance costs				$ 500,000
Minimum interest coverage ratio							3
Maximum senior secured leverage ratio							2.25
Maximum leverage ratio							3.75
Revolving Credit Facility Due January 2022 | UNITED STATES
Debt Instrument [Line Items]
Covenant maximum cash balance			$ 45,000,000				$ 45,000,000		$ 45,000,000
Revolving Credit Facility Due January 2022 | Minimum
Debt Instrument [Line Items]
Commitment fee percentage						0.25%
Revolving Credit Facility Due January 2022 | Maximum
Debt Instrument [Line Items]
Commitment fee percentage						0.50%
Revolving Credit Facility Due January 2022 | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%					1.75%
Revolving Credit Facility Due January 2022 | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%					3.00%
Revolving Credit Facility Due January 2022 | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%					0.75%
Revolving Credit Facility Due January 2022 | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%					2.00%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 50,000,000

Long-term Debt - Carrying Amoun

Long-term Debt - Carrying Amount of the 1.50% Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less: Unamortized issuance costs	$ 1,300	$ 1,400
Net carrying amount of the liability component	163,526	222,552
Convertible Debt | 1.5% Convertible Unsecured Senior Notes Due February 2023
Debt Instrument [Line Items]
Principal amount of the liability component	157,369	192,250
Less: Unamortized discount	13,667	21,544
Less: Unamortized issuance costs	2,010	3,112
Net carrying amount of the liability component	141,692	167,594
Net carrying amount of the equity component	$ 25,683	$ 25,683

Fair Value Measurements (Detail

Fair Value Measurements (Details) - 1.5% Convertible Unsecured Senior Notes - Convertible Debt - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of the liability component	$ 157,369	$ 192,250
Fair Value, Inputs, Level 1 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 89,700

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Outstanding Activity (Details)	9 Months Ended
	Sep. 30, 2020shares
Changes in Common Stock Outstanding [Roll Forward]
Shares of common stock outstanding beginning period (in shares)	60,501,000
Restricted stock awards, net of forfeitures (in shares)	755,000
Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury (in shares)	(225,000)
Shares of common stock outstanding ending period (in shares)	61,031,000

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	$ 764,338	$ 1,386,344	$ 764,338	$ 1,386,344	$ 778,869	$ 1,223,967	$ 1,419,728	$ 1,439,768
Currency translation adjustments	$ 3,357	$ (5,672)	$ (12,664)	$ (5,535)
United Kingdom, Pounds
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened (weakened)	(2.00%)	(4.00%)	(2.00%)	(4.00%)
Brazil, Brazil Real
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened (weakened)	(29.00%)	(7.00%)	(29.00%)	(7.00%)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	$ (80,410)	$ (76,932)	$ (80,410)	$ (76,932)	$ (83,767)	$ (67,746)	$ (71,260)	$ (71,397)

Long-Term Incentive Compensat_3

Long-Term Incentive Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Stock Options
Outstanding – December 31, 2019 (in shares)	636,000
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	(86,000)
Outstanding – September 30, 2020 (in shares)	550,000
Weighted average grant date fair value (2020 awards) (in dollars per share) | $ / shares	$ 0
Service-based Restricted Stock
Service-based and Performance-based Stock
Outstanding – December 31, 2019 (in shares)	1,064,000
Granted (in shares)	686,000
Vested (in shares)	(540,000)
Forfeited (in shares)	(55,000)
Outstanding – September 30, 2020 (in shares)	1,155,000
Weighted average grant date fair value (2020 awards) (in dollars per share) | $ / shares	$ 10.02
Performance-based Stock Units
Service-based and Performance-based Stock
Outstanding – December 31, 2019 (in shares)	248,000
Granted (in shares)	181,000
Vested (in shares)	(125,000)
Forfeited (in shares)	0
Outstanding – September 30, 2020 (in shares)	304,000
Weighted average grant date fair value (2020 awards) (in dollars per share) | $ / shares	$ 11.15

Long-Term Incentive Compensat_4

Long-Term Incentive Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, recorded liability					$ 2,000,000	$ 1,400,000
Stock-based compensation expense	$ 2,100,000	$ 4,200,000	$ 5,300,000	$ 12,800,000
Share-based compensation costs not yet recognized	$ 11,300,000		$ 11,300,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, potential maximum liability					0	0
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, potential maximum liability					$ 4,000,000	$ 2,700,000
Service-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 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%
Cash Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)			3 years

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (7,676)	$ (6,204)	$ (54,060)	$ (6,744)
Income (loss) before income taxes	$ (27,645)	$ (38,072)	(503,696)	$ (63,000)
Nondeductible goodwill impairment losses			313,100
Income tax expense (benefit) from carryback of operating losses			$ 16,400

Segments and Related Informat_3

Segments and Related Information - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)segment	Sep. 30, 2019
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation | $	$ 157
Revenue, remaining performance obligation, percentage of obligations, remaining fiscal year	14.00%
Revenue, remaining performance obligation, percentage of obligations, remaining in year two	38.00%
Transferred over Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, percentage of revenue	62.00%	67.00%

Segments and Related Informat_4

Segments and Related Information - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 134,759			$ 263,697	$ 500,698	$ 778,993
Depreciation and amortization	24,251			31,366	75,306	94,800
Operating income (loss)	(30,840)			(34,910)	(505,976)	(52,145)
Capital expenditures	2,362			14,255	11,277	45,832
Total assets	1,180,786			1,933,964	1,180,786	1,933,964	$ 1,727,867
Impairments of inventories	5,921		$ 25,230		31,151	0
Impairments of fixed assets	0	$ 2,992	5,198	33,697	8,190	33,697
Impairments of goodwill	0		406,056	0	406,056	0
Corporate
Segment Reporting Information [Line Items]
Revenues	0			0	0	0
Depreciation and amortization	219			189	563	642
Operating income (loss)	(8,249)			(11,932)	(25,633)	(35,666)
Capital expenditures	19			437	(377)	875
Total assets	90,476			41,080	90,476	41,080
Impairments of inventories	0
Impairments of fixed assets		0
Total Well Site Services
Segment Reporting Information [Line Items]
Revenues	37,372			116,000	161,173	340,358
Impairments of goodwill					127,054
Total Well Site Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	37,372			116,000	161,173	340,358
Depreciation and amortization	12,930			20,188	41,334	61,287
Operating income (loss)	(13,872)			(34,776)	(181,746)	(45,937)
Capital expenditures	1,579			6,626	6,554	27,423
Total assets	253,881			518,148	253,881	518,148
Downhole Technologies
Segment Reporting Information [Line Items]
Revenues	18,713			42,882	74,743	143,912
Impairments of inventories			0
Impairments of fixed assets			0		5,900
Impairments of goodwill			192,502		192,502
Downhole Technologies | Operating Segments
Segment Reporting Information [Line Items]
Revenues	18,713			42,882	74,743	143,912
Depreciation and amortization	5,701			5,309	16,904	15,631
Operating income (loss)	(12,594)			659	(216,395)	3,251
Capital expenditures	78			4,045	2,892	11,121
Total assets	294,768			700,789	294,768	700,789
Impairments of inventories	5,921
Impairments of fixed assets		0
Offshore/Manufactured Products
Segment Reporting Information [Line Items]
Revenues	78,674			104,815	264,782	294,723
Impairments of inventories			16,249		16,200
Impairments of fixed assets			0
Impairments of goodwill			86,500		86,500
Offshore/Manufactured Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues	78,674			104,815	264,782	294,723
Depreciation and amortization	5,401			5,680	16,505	17,240
Operating income (loss)	3,875			11,139	(82,202)	26,207
Capital expenditures	686			3,147	2,208	6,413
Total assets	541,661			673,947	541,661	673,947
Impairments of inventories	0
Impairments of fixed assets		0
Impairments of goodwill					86,500
Completion Services | Total Well Site Services
Segment Reporting Information [Line Items]
Impairments of inventories			8,981		9,000
Impairments of fixed assets		3,000	0
Impairments of goodwill			127,054		127,054
Completion Services | Total Well Site Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	34,893			103,966	153,994	307,928
Depreciation and amortization	12,914			17,024	41,032	51,558
Operating income (loss)	(14,330)			1,719	(176,408)	(2,282)
Capital expenditures	1,579			6,088	6,440	24,971
Total assets	248,715			496,684	248,715	496,684
Impairments of inventories	0
Impairments of fixed assets		2,992
Drilling Services | Total Well Site Services
Segment Reporting Information [Line Items]
Impairments of inventories			0
Impairments of fixed assets		$ 3,000	5,198	33,700
Impairments of goodwill			$ 0		0
Drilling Services | Total Well Site Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,479			12,034	7,179	32,430
Depreciation and amortization	16			3,164	302	9,729
Operating income (loss)	458			(36,495)	(5,338)	(43,655)
Capital expenditures	0			538	114	2,452
Total assets	$ 5,166			$ 21,464	$ 5,166	$ 21,464

Segments and Related Informat_5

Segments and Related Information - Supplemental Revenue Information by Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 134,759	$ 263,697	$ 500,698	$ 778,993
Project-driven products
Segment Reporting Information [Line Items]
Revenues	41,004	39,474	129,157	105,236
Short-cycle products
Segment Reporting Information [Line Items]
Revenues	63,949	193,580	277,250	585,992
Completion products and services
Segment Reporting Information [Line Items]
Revenues	57,270	173,558	250,817	532,090
Drilling services
Segment Reporting Information [Line Items]
Revenues	2,479	12,034	7,179	32,430
Other products
Segment Reporting Information [Line Items]
Revenues	4,200	7,988	19,254	21,472
Other products and services
Segment Reporting Information [Line Items]
Revenues	29,806	30,643	94,291	87,765
Total Well Site Services
Segment Reporting Information [Line Items]
Revenues	37,372	116,000	161,173	340,358
Total Well Site Services | Project-driven products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Total Well Site Services | Short-cycle products
Segment Reporting Information [Line Items]
Revenues	37,372	116,000	161,173	340,358
Total Well Site Services | Completion products and services
Segment Reporting Information [Line Items]
Revenues	34,893	103,966	153,994	307,928
Total Well Site Services | Drilling services
Segment Reporting Information [Line Items]
Revenues	2,479	12,034	7,179	32,430
Total Well Site Services | Other products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Total Well Site Services | Other products and services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies
Segment Reporting Information [Line Items]
Revenues	18,713	42,882	74,743	143,912
Downhole Technologies | Project-driven products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Short-cycle products
Segment Reporting Information [Line Items]
Revenues	18,713	42,882	74,743	143,912
Downhole Technologies | Completion products and services
Segment Reporting Information [Line Items]
Revenues	18,713	42,882	74,743	143,912
Downhole Technologies | Drilling services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Other products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Other products and services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Offshore/Manufactured Products
Segment Reporting Information [Line Items]
Revenues	78,674	104,815	264,782	294,723
Offshore/Manufactured Products | Project-driven products
Segment Reporting Information [Line Items]
Revenues	41,004	39,474	129,157	105,236
Offshore/Manufactured Products | Short-cycle products
Segment Reporting Information [Line Items]
Revenues	7,864	34,698	41,334	101,722
Offshore/Manufactured Products | Completion products and services
Segment Reporting Information [Line Items]
Revenues	3,664	26,710	22,080	80,250
Offshore/Manufactured Products | Drilling services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Offshore/Manufactured Products | Other products
Segment Reporting Information [Line Items]
Revenues	4,200	7,988	19,254	21,472
Offshore/Manufactured Products | Other products and services
Segment Reporting Information [Line Items]
Revenues	$ 29,806	$ 30,643	$ 94,291	$ 87,765

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	1 Months Ended
	Aug. 31, 2020	Jan. 31, 2018
Business Acquisition [Line Items]
Income tax carryback claims, CARES Act	$ 19,000,000
Unsecured Debt
Business Acquisition [Line Items]
Debt instrument, face amount		$ 25,000,000