Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'OIL STATES INTERNATIONAL, INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 55,153,548 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001121484 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Unaudited_Condensed_Consolidat
Unaudited Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | $684,456 | $644,512 | $1,994,985 | $1,944,151 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales and services | 433,786 | 393,644 | 1,250,596 | 1,174,164 |
Selling, general and administrative expenses | 54,130 | 46,284 | 156,697 | 133,648 |
Depreciation and amortization expense | 70,217 | 58,871 | 204,545 | 162,610 |
Other operating expense | 4,346 | 1,566 | 3,485 | 1,703 |
562,479 | 500,365 | 1,615,323 | 1,472,125 | |
Operating income | 121,977 | 144,147 | 379,662 | 472,026 |
Interest expense, net of capitalized interest | -18,678 | -15,736 | -58,426 | -51,617 |
Interest income | 506 | 440 | 1,708 | 979 |
Loss on extinguishment of debt | -3,265 | 0 | -3,265 | 0 |
Equity in earnings (losses) of unconsolidated affiliates | 72 | -103 | -758 | 150 |
Other income | 3,854 | 2,243 | 5,603 | 7,781 |
Income from continuing operations before income taxes | 104,466 | 130,991 | 324,524 | 429,319 |
Income tax provision | -27,059 | -33,635 | -86,429 | -113,878 |
Net income from continuing operations | 77,407 | 97,356 | 238,095 | 315,441 |
Net income from discontinued operations, net of tax (including a net gain on disposal of $84,209 in the third quarter of 2013) | 90,679 | 6,753 | 109,445 | 35,616 |
Net income | 168,086 | 104,109 | 347,540 | 351,057 |
Less: Net income attributable to noncontrolling interest | 346 | 317 | 1,086 | 967 |
Net income attributable to Oil States International, Inc. | 167,740 | 103,792 | 346,454 | 350,090 |
Basic net income per share attributable to Oil States International, Inc. common stockholders from: | ' | ' | ' | ' |
Continuing operations (in Dollars per share) | $1.40 | $1.80 | $4.31 | $6.01 |
Discontinued operations (in Dollars per share) | $1.64 | $0.12 | $1.99 | $0.68 |
Net income (in Dollars per share) | $3.04 | $1.92 | $6.30 | $6.69 |
Diluted net income per share attributable to Oil States International, Inc. common stockholders from: | ' | ' | ' | ' |
Continuing operations (in Dollars per share) | $1.38 | $1.75 | $4.27 | $5.68 |
Discontinued operations (in Dollars per share) | $1.63 | $0.12 | $1.97 | $0.64 |
Net income (in Dollars per share) | $3.01 | $1.87 | $6.24 | $6.32 |
Weighted average number of common shares outstanding: | ' | ' | ' | ' |
Basic (in Shares) | 55,092 | 53,975 | 54,987 | 52,347 |
Diluted (in Shares) | 55,672 | 55,365 | 55,542 | 55,391 |
Net income attributable to Oil States International, Inc.: | ' | ' | ' | ' |
Continuing operations | 77,061 | 97,039 | 237,009 | 314,474 |
Discontinued operations | $90,679 | $6,753 | $109,445 | $35,616 |
Unaudited_Condensed_Consolidat1
Unaudited Condensed Consolidated Statements of Income (Parentheticals) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Gain on disposal | $84,209 | $84,209 |
Unaudited_Condensed_Consolidat2
Unaudited Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $168,086 | $104,109 | $347,540 | $351,057 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 44,693 | 43,564 | -125,407 | 40,527 |
Unrealized loss on forward contracts, net of tax | -190 | -434 | -74 | -434 |
Total other comprehensive income (loss) | 44,503 | 43,130 | -125,481 | 40,093 |
Comprehensive income | 212,589 | 147,239 | 222,059 | 391,150 |
Comprehensive income attributable to noncontrolling interest | -380 | -357 | -1,045 | -996 |
Comprehensive income attributable to Oil States International, Inc. | $212,209 | $146,882 | $221,014 | $390,154 |
Consolidated_Balance_Sheets_Cu
Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $775,979 | $253,172 |
Accounts receivable, net | 616,170 | 647,933 |
Inventories, net | 256,665 | 253,994 |
Current assets held for sale | 0 | 632,496 |
Prepaid expenses and other current assets | 34,228 | 38,497 |
Total current assets | 1,683,042 | 1,826,092 |
Property, plant, and equipment, net | 1,914,088 | 1,827,242 |
Goodwill, net | 499,830 | 520,818 |
Other intangible assets, net | 127,605 | 146,103 |
Noncurrent assets held for sale | 0 | 31,605 |
Other noncurrent assets | 48,907 | 88,102 |
Total assets | 4,273,472 | 4,439,962 |
Current liabilities: | ' | ' |
Accounts payable | 144,555 | 167,642 |
Accrued liabilities | 115,911 | 103,800 |
Income taxes | 66,494 | 29,588 |
Current portion of long-term debt and capitalized leases | 492 | 30,480 |
Deferred revenue | 65,924 | 43,022 |
Current liabilities held for sale | 0 | 139,686 |
Other current liabilities | 10,168 | 4,314 |
Total current liabilities | 403,544 | 518,532 |
Long-term debt and capitalized leases | 1,006,844 | 1,279,805 |
Deferred income taxes | 128,343 | 123,958 |
Noncurrent liabilities held for sale | 0 | 5,277 |
Other noncurrent liabilities | 24,163 | 46,590 |
Total liabilities | 1,562,894 | 1,974,162 |
Oil States International, Inc. stockholders’ equity: | ' | ' |
Common stock, $.01 par value, 200,000,000 shares authorized, 59,118,683 shares and 58,488,299 shares issued, respectively, and 55,139,418 shares and 54,695,473 shares outstanding, respectively | 591 | 585 |
Additional paid-in capital | 625,752 | 586,070 |
Retained earnings | 2,245,649 | 1,899,195 |
Accumulated other comprehensive income (loss) | -18,384 | 107,097 |
Common stock held in treasury at cost, 3,979,265 and 3,792,826 shares, respectively | -144,589 | -128,542 |
Total Oil States International, Inc. stockholders’ equity | 2,709,019 | 2,464,405 |
Noncontrolling interest | 1,559 | 1,395 |
Total stockholders’ equity | 2,710,578 | 2,465,800 |
Total liabilities and stockholders’ equity | $4,273,472 | $4,439,962 |
Consolidated_Balance_Sheets_Cu1
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 59,118,683 | 58,488,299 |
Common stock, shares outstanding | 55,139,418 | 54,695,473 |
Treasury stock, shares | 3,979,265 | 3,792,826 |
Unaudited_Condensed_Consolidat3
Unaudited Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $347,540 | $351,057 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 204,545 | 162,610 |
Deferred income tax provision | -707 | 5,122 |
Excess tax benefits from share-based payment arrangements | -5,447 | -7,739 |
Gain on sale of business | -84,209 | 0 |
Gains on disposals of assets | -3,871 | -7,131 |
Non-cash compensation charge | 22,938 | 13,934 |
Accretion of debt discount | 0 | 4,106 |
Amortization of deferred financing costs | 5,937 | 5,249 |
Loss on extinguishment of debt | 3,265 | 0 |
Other, net | 640 | -9 |
Changes in operating assets and liabilities, net of effect from acquired businesses: | ' | ' |
Accounts receivable | 53,386 | -62,688 |
Inventories | 34,028 | -140,408 |
Accounts payable and accrued liabilities | -24,449 | 84,020 |
Taxes payable | 16,603 | 38,035 |
Other current assets and liabilities, net | 10,868 | -2,337 |
Net cash flows provided by operating activities | 582,677 | 445,534 |
Cash flows from investing activities: | ' | ' |
Capital expenditures, including capitalized interest | -355,639 | -331,750 |
Acquisitions of businesses, net of cash acquired | -1,771 | -48,000 |
Proceeds from sale of business | 600,000 | 0 |
Proceeds from disposition of property, plant and equipment | 8,535 | 9,609 |
Other, net | 81 | -1,668 |
Net cash flows provided by (used in) investing activities | 251,206 | -371,809 |
Cash flows from financing activities: | ' | ' |
Revolving credit borrowings and (repayments), net | -47,901 | 201,837 |
Payment of principal on 2 3/8% Notes conversion | 0 | -174,990 |
Term loan repayments | -252,762 | -22,510 |
Debt and capital lease repayments | -2,180 | -2,453 |
Issuance of common stock from share-based payment arrangements | 14,172 | 13,108 |
Purchase of treasury stock | -11,889 | 0 |
Excess tax benefits from share-based payment arrangements | 5,447 | 7,739 |
Payment of financing costs | -203 | -3,264 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | -4,161 | -4,167 |
Other, net | -1 | 3 |
Net cash flows provided by (used in) financing activities | -299,478 | 15,303 |
Effect of exchange rate changes on cash | -11,598 | 2,802 |
Net change in cash and cash equivalents | 522,807 | 91,830 |
Cash and cash equivalents, beginning of period | 253,172 | 71,721 |
Cash and cash equivalents, end of period | 775,979 | 163,551 |
Non-cash financing activities: | ' | ' |
Value of common stock issued in payment of 2 3/8% Notes conversion | $0 | $220,597 |
Unaudited_Condensed_Consolidat4
Unaudited Condensed Consolidated Statements of Cash Flows (Parentheticals) | Sep. 30, 2012 |
Interest rate on notes converted | 2.38% |
Note_1_Organization_and_Basis_
Note 1 - Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. ORGANIZATION AND BASIS OF PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements of Oil States International, Inc. and its wholly-owned subsidiaries (referred to in this report as we or the Company) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the Commission) pertaining to interim financial information. Certain information in footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to these rules and regulations. The unaudited financial statements included in this report reflect all the adjustments, consisting of normal recurring adjustments, which the Company considers necessary for a fair presentation of the results of operations for the interim periods covered and for the financial condition of the Company at the date of the interim balance sheet. Results for the interim periods are not necessarily indicative of results for the full year. | |
In September 2013, the Company entered into a Stock Purchase Agreement with Marubeni-Itochu Tubulars America, Inc. (Marubeni-Itochu) for the sale of Sooner, Inc. and its subsidiaries (Sooner), which comprised the entirety of the Company’s tubular services segment. The applicable assets and liabilities of this business have been classified as held for sale in the Consolidated Balance Sheet as of December 31, 2012. The unaudited Condensed Consolidated Statements of Income for all periods presented have been reclassified to reflect the presentation of discontinued operations. Unless otherwise indicated, all disclosures and amounts in the Notes to Unaudited Condensed Consolidated Financial Statements relate to the Company’s continuing operations. | |
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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. If the underlying estimates and assumptions, upon which the financial statements are based, change in future periods, actual amounts may differ from those included in the accompanying condensed consolidated financial statements. | |
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, 2012 (the 2012 Form 10-K). |
Note_2_Recent_Accounting_Prono
Note 2 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
2. 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. |
Note_3_Details_of_Selected_Bal
Note 3 - Details of Selected Balance Sheet Accounts | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | |||||||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | |||||||||||||
3. DETAILS OF SELECTED BALANCE SHEET ACCOUNTS | ||||||||||||||
Additional information regarding selected balance sheet accounts at September 30, 2013 and December 31, 2012 is presented below (in thousands): | ||||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Accounts receivable, net: | ||||||||||||||
Trade | $ | 421,623 | $ | 455,031 | ||||||||||
Unbilled revenue | 196,312 | 194,133 | ||||||||||||
Other | 4,557 | 3,691 | ||||||||||||
Total accounts receivable | 622,492 | 652,855 | ||||||||||||
Allowance for doubtful accounts | (6,322 | ) | (4,922 | ) | ||||||||||
$ | 616,170 | $ | 647,933 | |||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Inventories, net: | ||||||||||||||
Finished goods and purchased products | $ | 96,023 | $ | 90,974 | ||||||||||
Work in process | 62,460 | 64,267 | ||||||||||||
Raw materials | 108,333 | 107,356 | ||||||||||||
Total inventories | 266,816 | 262,597 | ||||||||||||
Allowance for excess, damaged, or obsolete inventory | (10,151 | ) | (8,603 | ) | ||||||||||
$ | 256,665 | $ | 253,994 | |||||||||||
Estimated | September 30, | December 31, | ||||||||||||
Useful Life (years) | 2013 | 2012 | ||||||||||||
Property, plant and equipment, net: | ||||||||||||||
Land | $ | 69,505 | $ | 55,340 | ||||||||||
Accommodations assets | 3 | - | 15 | 1,563,124 | 1,481,830 | |||||||||
Buildings and leasehold improvements | 3 | - | 40 | 197,108 | 183,017 | |||||||||
Machinery and equipment | 2 | - | 29 | 426,949 | 390,432 | |||||||||
Completion services equipment | 4 | - | 10 | 306,218 | 264,225 | |||||||||
Office furniture and equipment | 1 | - | 10 | 53,684 | 46,461 | |||||||||
Vehicles | 2 | - | 10 | 137,354 | 122,246 | |||||||||
Construction in progress | 181,436 | 149,657 | ||||||||||||
Total property, plant and equipment | 2,935,378 | 2,693,208 | ||||||||||||
Accumulated depreciation | (1,021,290 | ) | (865,966 | ) | ||||||||||
$ | 1,914,088 | $ | 1,827,242 | |||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Accrued liabilities: | ||||||||||||||
Accrued compensation | $ | 54,171 | $ | 67,144 | ||||||||||
Insurance liabilities | 13,596 | 11,412 | ||||||||||||
Accrued taxes, other than income taxes | 10,561 | 5,254 | ||||||||||||
Accrued interest | 17,357 | 4,042 | ||||||||||||
Accrued commissions | 3,316 | 3,763 | ||||||||||||
Other | 16,910 | 12,185 | ||||||||||||
$ | 115,911 | $ | 103,800 | |||||||||||
Note_4_Accumulated_Other_Compr
Note 4 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Comprehensive Income (Loss) Note [Text Block] | ' |
4. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |
Accumulated other comprehensive income decreased from $107.1 million at December 31, 2012 to an accumulated other comprehensive loss of $18.4 million at September 30, 2013, a net change of $125.5 million, primarily as a result of decreases in the Canadian and Australian dollar exchange rates compared to the U.S. dollar. The Canadian dollar was valued at an exchange rate of U.S. $0.97 at September 30, 2013 compared to U.S. $1.01 at December 31, 2012, a decrease of 4%. The Australian dollar was valued at an exchange rate of U.S. $0.93 at September 30, 2013 compared to U.S. $1.04 at December 31, 2012, a decrease of 11%. Excluding intercompany balances, our Canadian dollar and Australian dollar functional currency net assets total approximately C$926 million and A$941 million, respectively, at September 30, 2013. |
Note_5_Earnings_Per_Share
Note 5 - Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
5. EARNINGS PER SHARE | |||||||||||||||||
The calculation of earnings per share attributable to the Company is presented below (in thousands, except per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to Oil States International, Inc.: | |||||||||||||||||
Net income from continuing operations | $ | 77,061 | $ | 97,039 | $ | 237,009 | $ | 314,474 | |||||||||
Net income from discontinued operations | 90,679 | 6,753 | 109,445 | 35,616 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 167,740 | $ | 103,792 | $ | 346,454 | $ | 350,090 | |||||||||
Denominator: | |||||||||||||||||
Denominator for basic earnings per share – weighted average shares outstanding during the period | 55,092 | 53,975 | 54,987 | 52,347 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Options on common stock | 323 | 477 | 351 | 513 | |||||||||||||
2 3/8% Contingent Convertible Senior Subordinated Notes | -- | 782 | -- | 2,391 | |||||||||||||
Restricted stock awards and other | 257 | 131 | 204 | 140 | |||||||||||||
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions | 55,672 | 55,365 | 55,542 | 55,391 | |||||||||||||
Basic earnings per share: | |||||||||||||||||
Continuing operations | $ | 1.4 | $ | 1.8 | $ | 4.31 | $ | 6.01 | |||||||||
Discontinued operations | 1.64 | 0.12 | 1.99 | 0.68 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 3.04 | $ | 1.92 | $ | 6.3 | $ | 6.69 | |||||||||
Diluted earnings per share: | |||||||||||||||||
Continuing operations | $ | 1.38 | $ | 1.75 | $ | 4.27 | $ | 5.68 | |||||||||
Discontinued operations | 1.63 | 0.12 | 1.97 | 0.64 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 3.01 | $ | 1.87 | $ | 6.24 | $ | 6.32 | |||||||||
Our calculation of diluted earnings per share for the three and nine months ended September 30, 2013 excludes 247,432 shares and 344,251 shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards, due to their antidilutive effect. Our calculation of diluted earnings per share for the three and nine months ended September 30, 2012 excludes 303,833 shares and 424,299 shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards, due to their antidilutive effect. | |||||||||||||||||
See Note 8 to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for a discussion of the conversion of our 2 3/8% Contingent Convertible Senior Subordinated Notes (2 3/8% Notes). |
Note_6_Business_Acquisitions_a
Note 6 - Business Acquisitions and Goodwill | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||||||||||
6. BUSINESS ACQUISITIONS AND GOODWILL | |||||||||||||||||||||||||
On August 29, 2013, we acquired the 51% majority interest in a venture we had previously accounted for under the equity method. The acquired business provides design, manufacturing, sales and aftermarket services for newly manufactured cranes in India. Consideration paid for the majority interest was $1.45 million in cash. The operations of this business have been included in the offshore products segment since the acquisition date. | |||||||||||||||||||||||||
On December 14, 2012, we acquired all of the equity of Tempress Technologies, Inc. (Tempress) for purchase price consideration of $49.5 million consisting of $32.5 million in cash plus contingent consideration with an estimated fair market value of $17.0 million at closing. During the second quarter of 2013, the estimated fair market value of the contingent liability was increased to $20.0 million due to favorable developments related to a patent application by Tempress, resulting in a $3.0 million, or $0.05 per diluted share after tax, charge to other operating expense. The patent was granted in the third quarter of 2013 and the $20.0 million in contingent consideration was paid to the former shareholders of Tempress. The Company’s current escrowed deposits of $5.3 million include other consideration for seller transaction indemnities, are considered restricted cash and are classified as “Other current assets” in our September 30, 2013 Consolidated Balance Sheet and “Other noncurrent assets” in our December 31, 2012 Consolidated Balance Sheet. Liabilities for escrowed amounts expected to be paid to the seller also totaled $5.3 million and are classified as “Other current liabilities” in our September 30, 2013 Consolidated Balance Sheet and “Other noncurrent liabilities” in our December 31, 2012 Consolidated Balance Sheet. Headquartered in Kent, Washington, Tempress designs, develops and markets a suite of highly specialized, hydraulically-activated tools utilized during downhole completion activities. The operations of Tempress have been included in our well site services segment since the acquisition date. | |||||||||||||||||||||||||
On July 2, 2012, we acquired all of the operating assets of Piper Valve Systems, Ltd (Piper). Headquartered in Oklahoma City, Oklahoma, Piper designs and manufactures high pressure valves and manifold components for oil and gas industry projects offshore (surface and subsea) and onshore. Piper's valve technology complements our offshore products segment, allowing us to integrate their valve products and services into our existing subsea products such as pipeline end manifolds and terminals, increasing our suite of global deepwater product and service offerings. Cash consideration paid for the acquisition totaled $48.0 million. The operations of Piper have been included in our offshore products segment since the acquisition date. | |||||||||||||||||||||||||
In December 2010, we also acquired all of the operating assets of Mountain West Oilfield Service and Supplies, Inc. and Ufford Leasing LLC (Mountain West) for total consideration of $47.1 million including estimated contingent consideration of $4.0 million. During the first quarter of 2013, the liability for the estimated contingent consideration recorded in connection with this transaction was adjusted to its estimated fair value of zero resulting in the recording of other operating income of $4.0 million. Contingent consideration for the Mountain West acquisition was estimated based upon the amount of earnings before interest, depreciation, amortization and taxes expected to be earned by the acquired business during the three-year period ended December 31, 2013, subject to adjustment for capital spending levels. | |||||||||||||||||||||||||
Changes in the carrying amount of goodwill for the nine month period ended September 30, 2013 are as follows (in thousands): | |||||||||||||||||||||||||
Well Site Services | |||||||||||||||||||||||||
Completion Services | Drilling Services | Subtotal | Accommodations | Offshore Products | Total | ||||||||||||||||||||
Balance as of December 31, 2011 | |||||||||||||||||||||||||
Goodwill | $ | 169,711 | $ | 22,767 | $ | 192,478 | $ | 291,323 | $ | 100,944 | $ | 584,745 | |||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
75,183 | -- | 75,183 | 291,323 | 100,944 | 467,450 | ||||||||||||||||||||
Goodwill acquired and purchase price adjustments | 31,254 | -- | 31,254 | -- | 17,757 | 49,011 | |||||||||||||||||||
Foreign currency translation and other changes | 316 | -- | 316 | 3,809 | 232 | 4,357 | |||||||||||||||||||
106,753 | -- | 106,753 | 295,132 | 118,933 | 520,818 | ||||||||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||||||
Goodwill | 201,281 | 22,767 | 224,048 | 295,132 | 118,933 | 638,113 | |||||||||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
106,753 | -- | 106,753 | 295,132 | 118,933 | 520,818 | ||||||||||||||||||||
Goodwill acquired and purchase price adjustments | 1,576 | -- | 1,576 | -- | 1,954 | 3,530 | |||||||||||||||||||
Foreign currency translation and other changes | (479 | ) | -- | (479 | ) | (24,015 | ) | (24 | ) | (24,518 | ) | ||||||||||||||
107,850 | -- | 107,850 | 271,117 | 120,863 | 499,830 | ||||||||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||||||
Goodwill | 202,378 | 22,767 | 225,145 | 271,117 | 120,863 | 617,125 | |||||||||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
$ | 107,850 | $ | -- | $ | 107,850 | $ | 271,117 | $ | 120,863 | $ | 499,830 | ||||||||||||||
Note_7_Discontinued_Operations
Note 7 - Discontinued Operations | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | ||||||||||||||||
7. DISCONTINUED OPERATIONS | |||||||||||||||||
On September 6, 2013, the Company entered into a Stock Purchase Agreement with Marubeni-Itochu for the sale of Sooner, which comprised the entirety of the Company’s tubular services segment. Total consideration received by the Company was $600 million, which remains subject to customary post-closing adjustments, including final working capital determination. We recognized a net gain on disposal of $128.6 million ($84.2 million after-tax) during the third quarter of 2013, which is included within “Net income from discontinued operations, net of tax” in the Unaudited Condensed Consolidated Statements of Income. | |||||||||||||||||
In connection with this transaction, the parties have entered into a transition services agreement for the Company to provide certain information technology applications and infrastructure and various administrative services to Sooner during the transition period ranging from one to three months from the closing date depending on the nature of the service provided in exchange for monthly service fees. Either party has the option to terminate such transition services with notice at any time and Sooner may elect to extend such services for up to one month. The future continuing cash flows from the disposed business to the Company resulting from the transition services agreement are not significant and do not constitute a material continuing financial interest in Sooner. | |||||||||||||||||
Sooner, which had previously been presented as a separate reporting unit, meets the criteria for being reported as a discontinued operation and has been reclassified from continuing operations. The amounts in the table below reflect the operating results of Sooner reported as discontinued operations (in thousands). The $128.6 million ($84.2 after-tax) net gain related to the disposal of Sooner is excluded. | |||||||||||||||||
Two | Three | Eight | Nine | ||||||||||||||
Months | Months | Months | Months | ||||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||||
31-Aug-13 | 30-Sep-12 | 31-Aug-13 | 30-Sep-12 | ||||||||||||||
Revenues | $ | 273,637 | $ | 436,160 | $ | 1,073,096 | $ | 1,326,601 | |||||||||
Income from discontinued operations before income taxes | 10,463 | 10,555 | 40,964 | 57,075 | |||||||||||||
Income tax provision | (3,993 | ) | (3,802 | ) | (15,728 | ) | (21,459 | ) | |||||||||
Net income from discontinued operations, net of tax | $ | 6,470 | $ | 6,753 | $ | 25,236 | $ | 35,616 | |||||||||
The following table summarizes the major classes of assets and liabilities held for sale in the Company’s Consolidated Balance Sheet related to Sooner (in thousands): | |||||||||||||||||
31-Dec-12 | |||||||||||||||||
Assets | |||||||||||||||||
Accounts receivable, net | $ | 184,852 | |||||||||||||||
Inventories, net | 447,503 | ||||||||||||||||
Prepaid expenses and other current assets | 141 | ||||||||||||||||
Total current assets held for sale | $ | 632,496 | |||||||||||||||
Property, plant and equipment, net | $ | 24,884 | |||||||||||||||
Other noncurrent assets | 6,721 | ||||||||||||||||
Total noncurrent assets held for sale | $ | 31,605 | |||||||||||||||
Liabilities | |||||||||||||||||
Accounts payable | $ | 112,291 | |||||||||||||||
Accrued liabilities | 4,106 | ||||||||||||||||
Deferred revenue | 23,289 | ||||||||||||||||
Total current liabilities held for sale | $ | 139,686 | |||||||||||||||
Deferred income taxes | $ | 5,277 | |||||||||||||||
Total noncurrent liabilities held for sale | $ | 5,277 | |||||||||||||||
Note_8_Debt
Note 8 - Debt | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||
8. DEBT | |||||||||||||||||
As of September 30, 2013 and December 31, 2012, long-term debt consisted of the following (in thousands): | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
U.S. revolving credit facility, which matures December 10, 2015, with available commitments up to $500 million; no borrowings outstanding during the nine month period ended September 30, 2013 | $ | -- | $ | -- | |||||||||||||
U.S. term loan of $200 million, which was repaid in full in 2013; weighted average interest rate of 2.3% for the nine month period ended September 30, 2013 | -- | 170,000 | |||||||||||||||
Canadian revolving credit facility, which matures on December 10, 2015, with available commitments up to $250 million; no borrowings outstanding during the nine month period ended September 30, 2013 | -- | -- | |||||||||||||||
Canadian term loan of $100 million, which was repaid in full in 2013; weighted average interest rate of 3.3% for the nine month period ended September 30, 2013 | -- | 85,786 | |||||||||||||||
Australian revolving credit facility, which matures December 10, 2015, with available commitments up to A$300 million and with a weighted average interest rate of 5.1% for the nine month period ended September 30, 2013 | -- | 47,803 | |||||||||||||||
6 1/2% senior unsecured notes - due June 2019 | 600,000 | 600,000 | |||||||||||||||
5 1/8% senior unsecured notes - due January 2023 | 400,000 | 400,000 | |||||||||||||||
Capital lease obligations and other debt | 7,336 | 6,696 | |||||||||||||||
Total debt | 1,007,336 | 1,310,285 | |||||||||||||||
Less: Current portion | 492 | 30,480 | |||||||||||||||
Total long-term debt and capitalized leases | $ | 1,006,844 | $ | 1,279,805 | |||||||||||||
5 1/8% Senior Unsecured Notes | |||||||||||||||||
On December 21, 2012, the Company sold $400 million aggregate principal amount of 5 1/8% Senior Notes due 2023 (5 1/8% Notes) through a private placement to qualified institutional buyers. The 5 1/8% Notes are senior unsecured obligations of the Company, are guaranteed by our material U.S. subsidiaries (the Guarantors), bear interest at a rate of 5 1/8% per annum and mature on January 1, 2023. At any time prior to January 15, 2016, the Company may redeem up to 35% of the 5 1/8% Notes at a redemption price of 105.125% of the principal amount, plus accrued and unpaid interest to the redemption date, with the proceeds of certain equity offerings. Prior to January 15, 2018, the Company may redeem some or all of the 5 1/8% Notes for cash at a redemption price equal to 100% of their principal amount plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. On and after January 15, 2018, the Company may redeem some or all of the 5 1/8% Notes at redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date. The optional redemption prices as a percentage of principal amount are as follows: | |||||||||||||||||
Twelve Month Period Beginning January 15, | % of Principal Amount | ||||||||||||||||
2018 | 102.56% | ||||||||||||||||
2019 | 101.71% | ||||||||||||||||
2020 | 100.85% | ||||||||||||||||
2021 and thereafter | 100.00% | ||||||||||||||||
The Company utilized approximately $334 million of the net proceeds of the 5 1/8% Notes to repay borrowings under its U.S. revolving credit facility. The remaining net proceeds of approximately $61 million were utilized for general corporate purposes. | |||||||||||||||||
6 1/2% Senior Unsecured Notes | |||||||||||||||||
On June 1, 2011, the Company sold $600 million aggregate principal amount of 6 1/2% senior unsecured notes (6 1/2% Notes) due 2019 through a private placement to qualified institutional buyers. The 6 1/2% Notes are senior unsecured obligations of the Company, are guaranteed by our material U.S. subsidiaries (the Guarantors), bear interest at a rate of 6 1/2% per annum and mature on June 1, 2019. At any time prior to June 1, 2014, the Company may redeem up to 35% of the 6 1/2% Notes at a redemption price of 106.5% of the principal amount, plus accrued and unpaid interest to the redemption date, with the proceeds of certain equity offerings. Prior to June 1, 2014, the Company may redeem some or all of the 6 1/2% Notes for cash at a redemption price equal to 100% of their principal amount plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. On and after June 1, 2014, the Company may redeem some or all of the 6 1/2% Notes at redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date. The optional redemption prices as a percentage of principal amount are as follows: | |||||||||||||||||
Twelve Month Period Beginning June 1, | % of Principal Amount | ||||||||||||||||
2014 | 104.88% | ||||||||||||||||
2015 | 103.25% | ||||||||||||||||
2016 | 101.63% | ||||||||||||||||
2017 and thereafter | 100.00% | ||||||||||||||||
The Company utilized approximately $515 million of the net proceeds of the 6 1/2% Notes to repay borrowings outstanding under its U.S. and Canadian credit facilities. The remaining net proceeds of approximately $75 million were utilized for general corporate purposes. | |||||||||||||||||
2 3/8% Contingent Convertible Senior Notes | |||||||||||||||||
On May 17, 2012, the Company gave notice of the redemption of all of its outstanding 2 3/8% Notes due 2025 (2 3/8% Notes), totaling $174,990,000 at a redemption price equal to 100% of the principal amount thereof plus accrued interest. In July 2012, rather than having their 2 3/8% Notes redeemed, on or prior to July 5, 2012, holders of $174,990,000 aggregate principal amount of the 2 3/8% Notes converted their 2 3/8% Notes and received cash up to the principal amount and, in the aggregate, 3,012,380 shares of the Company’s common stock valued at $220.6 million. | |||||||||||||||||
An effective interest rate of 7.17% was applied as of the issuance date for our 2 3/8% Notes in accordance with ASC 470-20 – Debt with Conversion and Other Options. Interest expense on the 2 3/8% Notes, excluding amortization of debt issue costs, was as follows (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest expense | $ | -- | $ | -- | $ | -- | $ | 6,185 | |||||||||
As of September 30, 2013, the Company had approximately $776.0 million of cash and cash equivalents and $716.8 million of the Company’s U.S. and Canadian credit facilities available for future financing needs. The Company also had availability totaling A$300 million under its Australian credit facility. As of September 30, 2013, the Company had $33.2 million of outstanding letters of credit which reduced amounts available under its credit facilities. | |||||||||||||||||
Interest expense on the condensed consolidated statements of income is net of capitalized interest of $0.2 million and $0.8 million, respectively, for the three and nine months ended September 30, 2013 and $0.7 million and $3.2 million, respectively, for the same periods in 2012. |
Note_9_Fair_Value_Measurements
Note 9 - Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
9. FAIR VALUE MEASUREMENTS | |||||||||||||||||
The Company’s financial instruments consist of cash and cash equivalents, investments, receivables, payables, bank debt and foreign currency forward contracts. The Company believes that the carrying values of these instruments on the accompanying consolidated balance sheets approximate their fair values. | |||||||||||||||||
The fair values of the Company’s 6 1/2% Notes and 5 1/8% Notes are estimated based on quoted prices and analysis of similar instruments (Level 2 fair value measurements). The carrying values and fair values of these notes are as follows for the periods indicated (in thousands): | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
5 1/8% Notes | |||||||||||||||||
Principal amount due 2023 | $ | 400,000 | $ | 440,500 | $ | 400,000 | $ | 405,752 | |||||||||
6 1/2% Notes | |||||||||||||||||
Principal amount due 2019 | $ | 600,000 | $ | 638,622 | $ | 600,000 | $ | 641,628 | |||||||||
Note_10_Changes_in_Common_Stoc
Note 10 - Changes in Common Stock Outstanding | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Stockholders' Equity Note [Abstract] | ' | ||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||
10. CHANGES IN COMMON STOCK OUTSTANDING | |||||
Shares of common stock outstanding – January 1, 2013 | 54,695,473 | ||||
Shares issued upon exercise of stock options and vesting of restricted stock awards | 630,384 | ||||
Repurchase of shares – transferred to treasury | (135,379 | ) | |||
Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury | (51,060 | ) | |||
Shares of common stock outstanding – September 30, 2013 | 55,139,418 | ||||
Note_11_Stock_Based_Compensati
Note 11 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
11. STOCK BASED COMPENSATION | |
During the first nine months of 2013, we granted restricted stock awards totaling 311,410 shares valued at a total of $25.3 million. Of the restricted stock awards granted in the first nine months of 2013, a total of 264,557 awards vest in four equal annual installments beginning in February 2014, 30,314 awards are performance based awards that may vest in February 2016 in an amount that will depend on the Company’s achievement of specified performance objectives, 9,880 awards vest 100% in May 2014, 3,500 awards vest 100% in February 2014 and 2,750 awards vest 100% in March 2014. The 2013 performance based awards have a performance criteria that will be measured based upon the Company’s achievement levels of average after-tax annual return on invested capital for the three year period commencing January 1, 2013 and ending December 31, 2015. During the nine months ended September 30, 2013, the Company also granted 71,500 units of phantom shares under the Canadian Long-Term Incentive Plan, which provides for the granting of units of phantom shares to key Canadian employees. These awards vest in three equal annual installments beginning in February 2014 and are accounted for as a liability until paid. Participants granted units of phantom shares are entitled to a lump sum cash payment equal to the fair market value of a share of the Company’s common stock on the vesting date. A total of 149,402 stock options with a ten-year term were awarded in the nine months ended September 30, 2013 with an average exercise price of $80.25, a fair value of $4.2 million and that will vest in four equal annual installments starting in February 2014. | |
Stock based compensation pre-tax expense from continuing operations recognized in the nine month periods ended September 30, 2013 and 2012 totaled $21.7 million and $13.5 million, or $0.31 and $0.19 per diluted share after tax, respectively. Stock based compensation pre-tax expense from continuing operations recognized in the three month periods ended September 30, 2013 and 2012 totaled $7.8 million and $4.7 million, or $0.11 and $0.07 per diluted share after tax, respectively. The total fair value of restricted stock awards that vested during the nine months ended September 30, 2013 and 2012 was $13.4 million and $14.2 million, respectively. At September 30, 2013, $46.2 million of compensation cost related to unvested stock options and restricted stock awards attributable to future performance had not yet been recognized. | |
In connection with the September 2013 sale of Sooner, modifications were made to outstanding equity options and awards for Sooner employees which resulted in $4.7 million in expense. This expense is included in “Net income from discontinued operations, net of tax” on the Unaudited Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2013 and is included in the transaction costs considered in the calculation of the $128.6 million pre-tax gain on the disposal of Sooner. |
Note_12_Income_Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
12. INCOME TAXES | |
Income tax expense for interim periods is based on estimates of the effective tax rate for the entire fiscal year. The Company’s income tax provision for the three and nine months ended September 30, 2013 totaled $27.1 million, or 25.9% of pretax income, and $86.4 million, or 26.6% of pretax income, respectively, compared to income tax expense of $33.6 million, or 25.7% of pretax income, and $113.9 million, or 26.5% of pretax income, respectively, for the three and nine months ended September 30, 2012. The effective tax rates for the three and nine months ended September 30, 2013 and 2012 are comparable, and are both lower than U.S. statutory rates because of lower foreign tax rates. |
Note_13_Segment_and_Related_In
Note 13 - Segment and Related Information | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||||||
13. SEGMENT AND RELATED INFORMATION | |||||||||||||||||||||||||
In accordance with current accounting standards regarding disclosures about segments of an enterprise and related information, the Company has identified the following reportable segments: well site services, accommodations and offshore products. The Company’s reportable segments represent strategic business units that offer different products and services. They are managed separately because each business requires different technologies and marketing strategies. Most of the businesses were initially acquired as a unit, and the management at the time of the acquisition was retained. Subsequent acquisitions have been direct extensions to our business segments. Separate business lines within the well site services segment have been disclosed to provide additional detail for that segment. Results of a portion of our accommodations segment supporting Steam-Assisted Gravity Drainage (SAGD) and traditional oil and natural gas drilling activities are impacted by seasonally higher activity during the Canadian winter drilling season occurring in the first calendar quarter, typically followed by lower activity during Spring break-up in the second quarter. | |||||||||||||||||||||||||
Financial information by business segment for continuing operations for each of the three and nine months ended September 30, 2013 and 2012 is summarized in the following table (in thousands): | |||||||||||||||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 151,857 | $ | 17,173 | $ | 35,302 | $ | - | $ | 25,689 | $ | 593,773 | |||||||||||||
Drilling services | 44,046 | 6,414 | 4,856 | - | 6,410 | 140,096 | |||||||||||||||||||
Total well site services | 195,903 | 23,587 | 40,158 | - | 32,099 | 733,869 | |||||||||||||||||||
Accommodations | 246,280 | 42,011 | 56,809 | (1 | ) | 74,188 | 2,092,415 | ||||||||||||||||||
Offshore products | 242,273 | 4,396 | 40,951 | 73 | 8,335 | 889,619 | |||||||||||||||||||
Corporate and eliminations | - | 223 | (15,941 | ) | - | 388 | 557,569 | ||||||||||||||||||
Total | $ | 684,456 | $ | 70,217 | $ | 121,977 | $ | 72 | $ | 115,010 | $ | 4,273,472 | |||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 130,752 | $ | 12,746 | $ | 32,218 | $ | - | $ | 27,251 | $ | 521,756 | |||||||||||||
Drilling services | 50,995 | 5,793 | 9,943 | - | 10,102 | 136,278 | |||||||||||||||||||
Total well site services | 181,747 | 18,539 | 42,161 | - | 37,353 | 658,034 | |||||||||||||||||||
Accommodations | 273,315 | 36,246 | 85,132 | - | 82,046 | 2,055,964 | |||||||||||||||||||
Offshore products | 189,450 | 3,807 | 28,026 | (103 | ) | 9,846 | 781,483 | ||||||||||||||||||
Corporate and eliminations | - | 279 | (11,172 | ) | - | 98 | 37,708 | ||||||||||||||||||
Total | $ | 644,512 | $ | 58,871 | $ | 144,147 | $ | (103 | ) | $ | 129,343 | $ | 3,533,189 | ||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 431,394 | $ | 48,293 | $ | 91,451 | $ | - | $ | 72,664 | $ | 593,773 | |||||||||||||
Drilling services | 128,462 | 18,330 | 16,069 | - | 20,262 | 140,096 | |||||||||||||||||||
Total well site services | 559,856 | 66,623 | 107,520 | - | 92,926 | 733,869 | |||||||||||||||||||
Accommodations | 787,161 | 124,510 | 206,603 | - | 234,794 | 2,092,415 | |||||||||||||||||||
Offshore products | 647,968 | 12,728 | 110,416 | (758 | ) | 25,957 | 889,619 | ||||||||||||||||||
Corporate and eliminations | - | 684 | (44,877 | ) | - | 1,036 | 557,569 | ||||||||||||||||||
Total | $ | 1,994,985 | $ | 204,545 | $ | 379,662 | $ | (758 | ) | $ | 354,713 | $ | 4,273,472 | ||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 391,385 | $ | 36,619 | $ | 94,986 | $ | - | $ | 65,125 | $ | 521,756 | |||||||||||||
Drilling services | 149,857 | 16,814 | 25,760 | - | 23,626 | 136,278 | |||||||||||||||||||
Total well site services | 541,242 | 53,433 | 120,746 | - | 88,751 | 658,034 | |||||||||||||||||||
Accommodations | 836,101 | 97,805 | 287,364 | - | 208,171 | 2,055,964 | |||||||||||||||||||
Offshore products | 566,808 | 10,659 | 97,116 | 150 | 30,809 | 781,483 | |||||||||||||||||||
Corporate and eliminations | - | 713 | (33,200 | ) | - | 1,299 | 37,708 | ||||||||||||||||||
Total | $ | 1,944,151 | $ | 162,610 | $ | 472,026 | $ | 150 | $ | 329,030 | $ | 3,533,189 | |||||||||||||
Note_14_Commitments_and_Contin
Note 14 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
14. COMMITMENTS AND CONTINGENCIES | |
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 warranty and product liability claims and occasional claims by individuals alleging exposure to hazardous materials as a result of its products or operations. Some of these claims relate to matters occurring prior to its acquisition of businesses, and some relate to businesses it has sold. In certain cases, the Company is entitled to indemnification from the sellers of businesses, and in other cases, it has indemnified the buyers of businesses from it. Although the Company can give no assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on it, management believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by insurance, will not have a material adverse effect on its consolidated financial position, results of operations or liquidity. |
Note_15_Planned_SpinOff_of_Acc
Note 15 - Planned Spin-Off of Accomodations Business | 9 Months Ended |
Sep. 30, 2013 | |
Planned Spin Off Of Accommodations Business [Abstract] | ' |
Planned Spin Off Of Accommodations Business [Text Block] | ' |
15. PLANNED SPIN-OFF OF ACCOMMODATIONS BUSINESS | |
On July 30, 2013, we announced that our board of directors has approved pursuing the spin-off of our accommodations business into a stand-alone, publicly traded corporation through a tax-free distribution of the accommodations business to the Company’s shareholders. The objective of the spin-off is to more effectively focus on two distinct businesses, achieve lower cost of capital for our accommodations business, to pursue more tailored and aggressive growth strategies and optimize operating efficiencies among other objectives. The spin-off is subject to market conditions, the receipt of an affirmative IRS ruling or independent tax opinion, the completion of a review by the Commission of a Form 10 to be filed by the accommodations business, the execution of separation and intercompany agreements and final approval of our board of directors and is expected to be completed in or before the summer of 2014. The Accommodations business will initially be spun-off as a C-Corporation, which offers a faster path to separation. The Accommodations business will continue to assess the feasibility and advisability of a potential future conversion into a real estate investment trust (REIT). In connection with this announced spin-off, we anticipate the need to separately capitalize the accommodations business and to refinance the Company’s existing debt. |
Note_16_Condensed_Consolidated
Note 16 - Condensed Consolidated Financial Information | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||||||||||||||
16. CONDENSED CONSOLIDATED FINANCIAL INFORMATION | |||||||||||||||||||||
Certain wholly-owned subsidiaries, as detailed below (the Guarantor Subsidiaries), have guaranteed all of the 6 1/2% Notes and all of the 5 1/8% Notes. These guarantees are full and unconditional, subject to the following release provisions: | |||||||||||||||||||||
● | in connection with any sale, exchange or transfer (by merger, consolidation or otherwise) of the capital stock of that guarantor after which that guarantor is no longer a restricted subsidiary; | ||||||||||||||||||||
● | upon proper designation of a guarantor by the Company as an unrestricted subsidiary; | ||||||||||||||||||||
● | upon the release or discharge of all outstanding guarantees by a guarantor of indebtedness of the Company and its restricted subsidiaries under any credit facility; | ||||||||||||||||||||
● | upon legal or covenant defeasance or satisfaction and discharge of the indenture; or | ||||||||||||||||||||
● | upon the dissolution of a guarantor, provided no event of default has occurred under the indentures and is continuing. | ||||||||||||||||||||
The following condensed consolidating financial information is included so that separate financial statements of the Guarantor Subsidiaries are not required to be filed with the Commission. The condensed consolidating financial information presents investments in both consolidated and unconsolidated affiliates using the equity method of accounting. | |||||||||||||||||||||
The following condensed consolidating financial information presents: condensed consolidating statements of income for each of the three and nine month periods ended September 30, 2013 and 2012, condensed consolidating balance sheets as of September 30, 2013 and December 31, 2012 and the statements of cash flows for each of the nine months ended September 30, 2013 and 2012 of (a) the Company, parent/guarantor, (b) Acute Technological Services, Inc., Capstar Holding, L.L.C., Capstar Drilling, Inc., General Marine Leasing, LLC, Oil States Energy Services L.L.C., Oil States Energy Services Holding, Inc., OSES International Holding, L.L.C., Oil States Management, Inc., Oil States Industries, Inc., Oil States Skagit SMATCO, LLC, PTI Group USA LLC, PTI Mars Holdco 1, LLC and Tempress Technologies, Inc. (the Guarantor Subsidiaries), (c) the non-guarantor subsidiaries, (d) consolidating adjustments necessary to consolidate the Company and its subsidiaries and (e) the Company on a consolidated basis. | |||||||||||||||||||||
With our sale of Sooner, Inc. on September 6, 2013, it is no longer a Guarantor Subsidiary. The Condensed Consolidated Statements of Income and Balance Sheets have been reclassified for all periods presented to reflect only the Company’s continuing operations. | |||||||||||||||||||||
We have revised the presentation of our condensed consolidating statement of cash flows for the nine month period ended September 30, 2012 to reflect equity contributions by the Parent Guarantor to Guarantor Subsidiaries of $14 million and by Guarantor Subsidiaries to Non-Guarantor Subsidiaries of $10 million between investing and financing activities in accordance with SEC Regulation S-X, which were previously presented as net amounts in investing activities as “proceeds from (funding of) accounts and notes with affiliates.” These changes had no impact on consolidated results, as previously reported. | |||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Guarantor | Other | Consolidating | Consolidated Oil | |||||||||||||||||
International, | Subsidiaries | Subsidiaries | Adjustments | States | |||||||||||||||||
Inc. (Parent/ | (Non- | International, | |||||||||||||||||||
Guarantor) | Guarantors) | Inc. | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 362,810 | $ | 321,646 | $ | — | $ | 684,456 | |||||||||||
Intercompany revenues | — | 7,282 | 5,433 | (12,715 | ) | — | |||||||||||||||
Total revenues | — | 370,092 | 327,079 | (12,715 | ) | 684,456 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 251,712 | 184,505 | (2,431 | ) | 433,786 | |||||||||||||||
Intercompany cost of sales and services | — | 4,813 | 5,069 | (9,882 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 487 | 33,434 | 20,209 | — | 54,130 | ||||||||||||||||
Depreciation and amortization expense | 223 | 29,397 | 40,641 | (44 | ) | 70,217 | |||||||||||||||
Other operating (income) expense | (312 | ) | 2,845 | 1,813 | — | 4,346 | |||||||||||||||
Operating income (loss) | (398 | ) | 47,891 | 74,842 | (358 | ) | 121,977 | ||||||||||||||
Interest expense, net of capitalized interest | (17,866 | ) | (146 | ) | (13,473 | ) | 12,807 | (18,678 | ) | ||||||||||||
Interest income | 4,724 | 45 | 8,544 | (12,807 | ) | 506 | |||||||||||||||
Loss on extinguishment of debt | (3,265 | ) | — | — | — | (3,265 | ) | ||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 51,231 | 55,737 | 72 | (106,968 | ) | 72 | |||||||||||||||
Other income (expense) | — | (204 | ) | 4,058 | — | 3,854 | |||||||||||||||
Income from continuing operations before income taxes | 34,426 | 103,323 | 74,043 | (107,326 | ) | 104,466 | |||||||||||||||
Income tax provision | 44,345 | (53,563 | ) | (17,841 | ) | — | (27,059 | ) | |||||||||||||
Net income from continuing operations | 78,771 | 49,760 | 56,202 | (107,326 | ) | 77,407 | |||||||||||||||
Net income from discontinued operations, net of tax (including a net gain on disposal of $84,209) | 88,969 | 1,710 | — | — | 90,679 | ||||||||||||||||
Net income | 167,740 | 51,470 | 56,202 | (107,326 | ) | 168,086 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 44,693 | 36,635 | 36,957 | (73,592 | ) | 44,693 | |||||||||||||||
Unrealized loss on forward contracts, net of tax | — | (190 | ) | — | — | (190 | ) | ||||||||||||||
Total other comprehensive income | 44,693 | 36,445 | 36,957 | (73,592 | ) | 44,503 | |||||||||||||||
Comprehensive income | 212,433 | 87,915 | 93,159 | (180,918 | ) | 212,589 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (387 | ) | 7 | (380 | ) | ||||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 212,433 | $ | 87,915 | $ | 92,772 | $ | (180,911 | ) | $ | 212,209 | ||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 294,820 | $ | 349,692 | $ | — | $ | 644,512 | |||||||||||
Intercompany revenues | — | 6,849 | 5,799 | (12,648 | ) | — | |||||||||||||||
Total revenues | — | 301,669 | 355,491 | (12,648 | ) | 644,512 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 201,342 | 194,234 | (1,932 | ) | 393,644 | |||||||||||||||
Intercompany cost of sales and services | — | 4,864 | 5,515 | (10,379 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 461 | 27,993 | 17,830 | — | 46,284 | ||||||||||||||||
Depreciation and amortization expense | 279 | 23,109 | 35,488 | (5 | ) | 58,871 | |||||||||||||||
Other operating (income)expense | (478 | ) | 828 | 1,216 | — | 1,566 | |||||||||||||||
Operating income (loss) | (262 | ) | 43,533 | 101,208 | (332 | ) | 144,147 | ||||||||||||||
Interest expense, net of capitalized interest | (14,143 | ) | (210 | ) | (18,375 | ) | 16,992 | (15,736 | ) | ||||||||||||
Interest income | 5,166 | 22 | 12,244 | (16,992 | ) | 440 | |||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 113,030 | 73,415 | (103 | ) | (186,445 | ) | (103 | ) | |||||||||||||
Other income | — | 333 | 1,910 | — | 2,243 | ||||||||||||||||
Income from continuing operations before income taxes | 103,791 | 117,093 | 96,884 | (186,777 | ) | 130,991 | |||||||||||||||
Income tax provision | — | (10,708 | ) | (22,927 | ) | — | (33,635 | ) | |||||||||||||
Net income from continuing operations | 103,791 | 106,385 | 73,957 | (186,777 | ) | 97,356 | |||||||||||||||
Net income from discontinued operations, net of tax | — | 6,753 | — | — | 6,753 | ||||||||||||||||
Net income | 103,791 | 113,138 | 73,957 | (186,777 | ) | 104,109 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 43,564 | 30,976 | 30,976 | (61,952 | ) | 43,564 | |||||||||||||||
Unrealized loss on forward contracts, net of tax | — | (434 | ) | — | — | (434 | ) | ||||||||||||||
Total other comprehensive income (loss) | 43,564 | 30,542 | 30,976 | (61,952 | ) | 43,130 | |||||||||||||||
Comprehensive income | 147,355 | 143,680 | 104,933 | (248,729 | ) | 147,239 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (353 | ) | (4 | ) | (357 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 147,355 | $ | 143,680 | $ | 104,580 | $ | (248,733 | ) | $ | 146,882 | ||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 994,365 | $ | 1,000,620 | $ | — | $ | 1,994,985 | |||||||||||
Intercompany revenues | — | 23,071 | 18,664 | (41,735 | ) | — | |||||||||||||||
Total revenues | — | 1,017,436 | 1,019,284 | (41,735 | ) | 1,994,985 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 685,336 | 571,406 | (6,146 | ) | 1,250,596 | |||||||||||||||
Intercompany cost of sales and services | — | 16,786 | 17,114 | (33,900 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 1,271 | 99,439 | 55,987 | — | 156,697 | ||||||||||||||||
Depreciation and amortization expense | 683 | 83,551 | 120,436 | (125 | ) | 204,545 | |||||||||||||||
Other operating (income) expense | (177 | ) | 3,031 | 631 | — | 3,485 | |||||||||||||||
Operating income (loss) | (1,777 | ) | 129,293 | 253,710 | (1,564 | ) | 379,662 | ||||||||||||||
Interest expense, net of capitalized interest | (54,214 | ) | (462 | ) | (45,983 | ) | 42,233 | (58,426 | ) | ||||||||||||
Interest income | 14,315 | 136 | 29,490 | (42,233 | ) | 1,708 | |||||||||||||||
Loss on extinguishment of debt | (3,265 | ) | — | — | — | (3,265 | ) | ||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 258,081 | 179,776 | (758 | ) | (437,857 | ) | (758 | ) | |||||||||||||
Other income | — | 812 | 4,791 | — | 5,603 | ||||||||||||||||
Income from continuing operations before income taxes | 213,140 | 309,555 | 241,250 | (439,421 | ) | 324,524 | |||||||||||||||
Income tax provision | 44,345 | (70,774 | ) | (60,000 | ) | — | (86,429 | ) | |||||||||||||
Net income from continuing operations | 257,485 | 238,781 | 181,250 | (439,421 | ) | 238,095 | |||||||||||||||
Net income from discontinued operations, net of tax (including a net gain on disposal of $84,209) | 88,969 | 20,476 | — | — | 109,445 | ||||||||||||||||
Net income | 346,454 | 259,257 | 181,250 | (439,421 | ) | 347,540 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | (125,407 | ) | (109,868 | ) | (113,634 | ) | 223,502 | (125,407 | ) | ||||||||||||
Unrealized loss on forward contracts | — | (74 | ) | — | — | (74 | ) | ||||||||||||||
Total other comprehensive income (loss) | (125,407 | ) | (109,942 | ) | (113,634 | ) | 223,502 | (125,481 | ) | ||||||||||||
Comprehensive income | 221,047 | 149,315 | 67,616 | (215,919 | ) | 222,059 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (1,023 | ) | (22 | ) | (1,045 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 221,047 | $ | 149,315 | $ | 66,593 | $ | (215,941 | ) | $ | 221,014 | ||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 931,918 | $ | 1,012,233 | $ | — | $ | 1,944,151 | |||||||||||
Intercompany revenues | — | 19,403 | 9,242 | (28,645 | ) | — | |||||||||||||||
Total revenues | — | 951,321 | 1,021,475 | (28,645 | ) | 1,944,151 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 623,446 | 556,602 | (5,884 | ) | 1,174,164 | |||||||||||||||
Intercompany cost of sales and services | — | 13,393 | 8,644 | (22,037 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 1,287 | 81,179 | 51,182 | — | 133,648 | ||||||||||||||||
Depreciation and amortization expense | 713 | 66,132 | 95,779 | (14 | ) | 162,610 | |||||||||||||||
Other operating (income) expense | (503 | ) | 182 | 2,024 | — | 1,703 | |||||||||||||||
Operating income (loss) | (1,497 | ) | 166,989 | 307,244 | (710 | ) | 472,026 | ||||||||||||||
Interest expense, net of capitalized interest | (47,782 | ) | (645 | ) | (54,489 | ) | 51,299 | (51,617 | ) | ||||||||||||
Interest income | 15,271 | 100 | 36,907 | (51,299 | ) | 979 | |||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 382,702 | 221,987 | 149 | (604,688 | ) | 150 | |||||||||||||||
Other income | — | 5,426 | 2,355 | — | 7,781 | ||||||||||||||||
Income from continuing operations before income taxes | 348,694 | 393,857 | 292,166 | (605,398 | ) | 429,319 | |||||||||||||||
Income tax provision | 1,396 | (46,244 | ) | (69,030 | ) | — | (113,878 | ) | |||||||||||||
Net income from continuing operations | 350,090 | 347,613 | 223,136 | (605,398 | ) | 315,441 | |||||||||||||||
Net income from discontinued operations, net of tax | — | 35,616 | — | — | 35,616 | ||||||||||||||||
Net income | 350,090 | 383,229 | 223,136 | (605,398 | ) | 351,057 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 40,527 | 28,282 | 28,293 | (56,575 | ) | 40,527 | |||||||||||||||
Unrealized loss on forward contracts | — | (434 | ) | — | — | (434 | ) | ||||||||||||||
Total other comprehensive income (loss) | 40,527 | 27,848 | 28,293 | (56,575 | ) | 40,093 | |||||||||||||||
Comprehensive income | 390,617 | 411,077 | 251,429 | (661,973 | ) | 391,150 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (988 | ) | (8 | ) | (996 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 390,617 | $ | 411,077 | $ | 250,441 | $ | (661,981 | ) | $ | 390,154 | ||||||||||
Consolidating Balance Sheets | |||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 512,090 | $ | 18,435 | $ | 245,454 | $ | — | $ | 775,979 | |||||||||||
Accounts receivable, net | 993 | 320,949 | 294,228 | — | 616,170 | ||||||||||||||||
Inventories, net | — | 138,980 | 117,685 | — | 256,665 | ||||||||||||||||
Prepaid expenses and other current assets | 10,762 | 12,230 | 11,236 | — | 34,228 | ||||||||||||||||
Total current assets | 523,845 | 490,594 | 668,603 | — | 1,683,042 | ||||||||||||||||
Property, plant and equipment, net | 2,391 | 605,736 | 1,309,455 | (3,494 | ) | 1,914,088 | |||||||||||||||
Goodwill, net | — | 222,236 | 277,594 | — | 499,830 | ||||||||||||||||
Other intangible assets, net | — | 55,211 | 72,394 | — | 127,605 | ||||||||||||||||
Investments in unconsolidated affiliates | 2,552,624 | 1,687,320 | 2,443 | (4,239,944 | ) | 2,443 | |||||||||||||||
Long-term intercompany receivables (payables) | 559,278 | (164,173 | ) | (395,107 | ) | 2 | — | ||||||||||||||
Other noncurrent assets | 35,444 | 980 | 10,040 | — | 46,464 | ||||||||||||||||
Total assets | $ | 3,673,582 | $ | 2,897,904 | $ | 1,945,422 | $ | (4,243,436 | ) | $ | 4,273,472 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,445 | $ | 66,805 | $ | 76,305 | $ | — | $ | 144,555 | |||||||||||
Accrued liabilities | 35,624 | 46,264 | 34,021 | 2 | 115,911 | ||||||||||||||||
Income taxes | (93,494 | ) | 145,737 | 14,251 | — | 66,494 | |||||||||||||||
Current portion of long-term debt and capitalized leases | 22 | 438 | 32 | — | 492 | ||||||||||||||||
Deferred revenue | — | 30,666 | 35,258 | — | 65,924 | ||||||||||||||||
Other current liabilities | — | 9,910 | 258 | — | 10,168 | ||||||||||||||||
Total current liabilities | (56,403 | ) | 299,820 | 160,125 | 2 | 403,544 | |||||||||||||||
Long-term debt and capitalized leases | 1,000,008 | 6,779 | 57 | — | 1,006,844 | ||||||||||||||||
Deferred income taxes | 5,268 | 64,078 | 58,997 | — | 128,343 | ||||||||||||||||
Other noncurrent liabilities | 15,690 | 1,742 | 7,180 | (449 | ) | 24,163 | |||||||||||||||
Total liabilities | 964,563 | 372,419 | 226,359 | (447 | ) | 1,562,894 | |||||||||||||||
Stockholders’ equity | 2,709,019 | 2,525,485 | 1,717,673 | (4,243,158 | ) | 2,709,019 | |||||||||||||||
Non-controlling interest | — | — | 1,390 | 169 | 1,559 | ||||||||||||||||
Total stockholders’ equity | 2,709,019 | 2,525,485 | 1,719,063 | (4,242,989 | ) | 2,710,578 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,673,582 | $ | 2,897,904 | $ | 1,945,422 | $ | (4,243,436 | ) | $ | 4,273,472 | ||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 3,222 | $ | 57,205 | $ | 192,745 | $ | — | $ | 253,172 | |||||||||||
Accounts receivable, net | 431 | 302,123 | 345,379 | — | 647,933 | ||||||||||||||||
Inventories, net | — | 135,500 | 118,494 | — | 253,994 | ||||||||||||||||
Current assets held for sale | — | 632,496 | — | — | 632,496 | ||||||||||||||||
Prepaid expenses and other current assets | 4,592 | 20,628 | 13,277 | — | 38,497 | ||||||||||||||||
Total current assets | 8,245 | 1,147,952 | 669,895 | — | 1,826,092 | ||||||||||||||||
Property, plant and equipment, net | 1,922 | 553,145 | 1,274,106 | (1,931 | ) | 1,827,242 | |||||||||||||||
Goodwill, net | — | 221,610 | 299,208 | — | 520,818 | ||||||||||||||||
Other intangible assets, net | — | 58,269 | 87,834 | — | 146,103 | ||||||||||||||||
Investments in unconsolidated affiliates | 2,658,946 | 1,614,822 | 3,000 | (4,273,768 | ) | 3,000 | |||||||||||||||
Long-term intercompany receivables (payables) | 855,354 | (495,655 | ) | (359,697 | ) | (2 | ) | — | |||||||||||||
Noncurrent assets held for sale | — | 31,605 | — | — | 31,605 | ||||||||||||||||
Other noncurrent assets | 40,989 | 25,977 | 18,136 | — | 85,102 | ||||||||||||||||
Total assets | $ | 3,565,456 | $ | 3,157,725 | $ | 1,992,482 | $ | (4,275,701 | ) | $ | 4,439,962 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,847 | $ | 68,558 | $ | 97,237 | $ | — | $ | 167,642 | |||||||||||
Accrued liabilities | 17,147 | 49,388 | 37,267 | (2 | ) | 103,800 | |||||||||||||||
Income taxes | (95,930 | ) | 94,996 | 30,522 | — | 29,588 | |||||||||||||||
Current portion of long-term debt and capitalized leases | 20,022 | 314 | 10,144 | — | 30,480 | ||||||||||||||||
Deferred revenue | — | 26,295 | 16,727 | — | 43,022 | ||||||||||||||||
Current liabilities held for sale | — | 139,686 | — | — | 139,686 | ||||||||||||||||
Other current liabilities | — | 4,027 | 287 | — | 4,314 | ||||||||||||||||
Total current liabilities | (56,914 | ) | 383,264 | 192,184 | (2 | ) | 518,532 | ||||||||||||||
Long-term debt and capitalized leases | 1,150,024 | 6,203 | 123,578 | — | 1,279,805 | ||||||||||||||||
Deferred income taxes | (4,772 | ) | 75,204 | 53,526 | — | 123,958 | |||||||||||||||
Noncurrent liabilities held for sale | — | 5,277 | — | — | 5,277 | ||||||||||||||||
Other noncurrent liabilities | 12,713 | 26,906 | 7,420 | (449 | ) | 46,590 | |||||||||||||||
Total liabilities | 1,101,051 | 496,854 | 376,708 | (451 | ) | 1,974,162 | |||||||||||||||
Stockholders’ equity | 2,464,405 | 2,660,871 | 1,614,526 | (4,275,397 | ) | 2,464,405 | |||||||||||||||
Non-controlling interest | — | — | 1,248 | 147 | 1,395 | ||||||||||||||||
Total stockholders’ equity | 2,464,405 | 2,660,871 | 1,615,774 | (4,275,250 | ) | 2,465,800 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,565,456 | $ | 3,157,725 | $ | 1,992,482 | $ | (4,275,701 | ) | $ | 4,439,962 | ||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: | $ | (90,282 | ) | $ | 324,496 | $ | 350,151 | $ | (1,688 | ) | $ | 582,677 | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures, including capitalized interest | (1,036 | ) | (138,779 | ) | (217,512 | ) | 1,688 | (355,639 | ) | ||||||||||||
Acquisitions of businesses, net of cash acquired | — | (321 | ) | (1,450 | ) | — | (1,771 | ) | |||||||||||||
Proceeds from disposition of property, plant and equipment | — | 1,735 | 6,800 | — | 8,535 | ||||||||||||||||
Proceeds from sale of business | 600,000 | — | — | — | 600,000 | ||||||||||||||||
Payments for equity contributions | (56,646 | ) | (2,518 | ) | — | 59,164 | — | ||||||||||||||
Other, net | 1 | 80 | — | — | 81 | ||||||||||||||||
Net cash provided by (used in) investing activities | 542,319 | (139,803 | ) | (212,162 | ) | 60,852 | 251,206 | ||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Revolving credit borrowings (repayments), net | — | — | (47,901 | ) | — | (47,901 | ) | ||||||||||||||
Term loan repayments | (170,000 | ) | — | (82,762 | ) | — | (252,762 | ) | |||||||||||||
Debt and capital lease payments | (17 | ) | (274 | ) | (1,889 | ) | — | (2,180 | ) | ||||||||||||
Issuance of common stock from share-based payment arrangements | 14,172 | — | — | — | 14,172 | ||||||||||||||||
Purchase of treasury stock | (11,889 | ) | — | — | — | (11,889 | ) | ||||||||||||||
Excess tax benefits from share-based payment arrangements | 5,447 | — | — | — | 5,447 | ||||||||||||||||
Payment of financing costs | (203 | ) | — | — | — | (203 | ) | ||||||||||||||
Proceeds from (funding of) accounts and notes with affiliates, net | 223,483 | (245,689 | ) | 22,206 | — | — | |||||||||||||||
Payments from equity contributions | — | 22,569 | 36,595 | (59,164 | ) | — | |||||||||||||||
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | (4,161 | ) | — | — | — | (4,161 | ) | ||||||||||||||
Other, net | (1 | ) | 1 | (1 | ) | — | (1 | ) | |||||||||||||
Net cash provided by (used in) financing activities | 56,831 | (223,393 | ) | (73,752 | ) | (59,164 | ) | (299,478 | ) | ||||||||||||
Effect of exchange rate changes on cash | — | (70 | ) | (11,528 | ) | — | (11,598 | ) | |||||||||||||
Net change in cash and cash equivalents | 508,868 | (38,770 | ) | 52,709 | — | 522,807 | |||||||||||||||
Cash and cash equivalents, beginning of period | 3,222 | 57,205 | 192,745 | — | 253,172 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 512,090 | $ | 18,435 | $ | 245,454 | $ | — | $ | 775,979 | |||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Guarantor | Other | Consolidating | Consolidated | |||||||||||||||||
International, | Subsidiaries | Subsidiaries | Adjustments | Oil States | |||||||||||||||||
Inc. (Parent/ | (Non- | International, | |||||||||||||||||||
Guarantor) | Guarantors) | Inc. | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: | $ | (108,585 | ) | $ | 258,575 | $ | 295,544 | $ | — | $ | 445,534 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures, including capitalized interest | (1,299 | ) | (137,792 | ) | (192,659 | ) | — | (331,750 | ) | ||||||||||||
Acquisitions of businesses, net of cash acquired | — | (48,000 | ) | — | — | (48,000 | ) | ||||||||||||||
Proceeds from disposition of property, plant and equipment | — | 5,944 | 3,665 | — | 9,609 | ||||||||||||||||
Payments for equity contributions | (14,012 | ) | (10,006 | ) | (1,715 | ) | 24,018 | (1,715 | ) | ||||||||||||
Other, net | — | 49 | (2 | ) | — | 47 | |||||||||||||||
Net cash provided by (used in) investing activities | (15,311 | ) | (189,805 | ) | (190,711 | ) | 24,018 | (371,809 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Revolving credit borrowings (repayments), net | 208,254 | — | (6,417 | ) | — | 201,837 | |||||||||||||||
Payment of principal on 2 3/8% Notes conversion``` | (174,990 | ) | — | — | — | (174,990 | ) | ||||||||||||||
Term loan repayments | (15,000 | ) | — | (7,510 | ) | — | (22,510 | ) | |||||||||||||
Debt and capital lease payments | (15 | ) | (2,314 | ) | (124 | ) | — | (2,453 | ) | ||||||||||||
Issuance of common stock from share-based payment arrangements | 13,108 | — | — | — | 13,108 | ||||||||||||||||
Excess tax benefits from share-based payment arrangements | 7,739 | — | — | — | 7,739 | ||||||||||||||||
Payment of financing costs | (23 | ) | — | (3,241 | ) | — | (3,264 | ) | |||||||||||||
Proceeds from (funding of) accounts and notes with affiliates, net | 89,490 | (80,384 | ) | (9,106 | ) | — | — | ||||||||||||||
Payments from equity contributions | — | 14,012 | 10,006 | (24,018 | ) | — | |||||||||||||||
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | (4,167 | ) | — | — | — | (4,167 | ) | ||||||||||||||
Other, net | — | 1 | 2 | — | 3 | ||||||||||||||||
Net cash provided by (used in) financing activities | 124,396 | (68,685 | ) | (16,390 | ) | (24,018 | ) | 15,303 | |||||||||||||
Effect of exchange rate changes on cash | — | — | 2,802 | — | 2,802 | ||||||||||||||||
Net change in cash and cash equivalents | 500 | 85 | 91,245 | — | 91,830 | ||||||||||||||||
Cash and cash equivalents, beginning of period | (295 | ) | 1,736 | 70,280 | — | 71,721 | |||||||||||||||
Cash and cash equivalents, end of period | $ | 205 | $ | 1,821 | $ | 161,525 | $ | — | $ | 163,551 | |||||||||||
Note_3_Details_of_Selected_Bal1
Note 3 - Details of Selected Balance Sheet Accounts (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | |||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Accounts receivable, net: | ||||||||||||||
Trade | $ | 421,623 | $ | 455,031 | ||||||||||
Unbilled revenue | 196,312 | 194,133 | ||||||||||||
Other | 4,557 | 3,691 | ||||||||||||
Total accounts receivable | 622,492 | 652,855 | ||||||||||||
Allowance for doubtful accounts | (6,322 | ) | (4,922 | ) | ||||||||||
$ | 616,170 | $ | 647,933 | |||||||||||
Schedule of Inventory, Current [Table Text Block] | ' | |||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Inventories, net: | ||||||||||||||
Finished goods and purchased products | $ | 96,023 | $ | 90,974 | ||||||||||
Work in process | 62,460 | 64,267 | ||||||||||||
Raw materials | 108,333 | 107,356 | ||||||||||||
Total inventories | 266,816 | 262,597 | ||||||||||||
Allowance for excess, damaged, or obsolete inventory | (10,151 | ) | (8,603 | ) | ||||||||||
$ | 256,665 | $ | 253,994 | |||||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||
Estimated | September 30, | December 31, | ||||||||||||
Useful Life (years) | 2013 | 2012 | ||||||||||||
Property, plant and equipment, net: | ||||||||||||||
Land | $ | 69,505 | $ | 55,340 | ||||||||||
Accommodations assets | 3 | - | 15 | 1,563,124 | 1,481,830 | |||||||||
Buildings and leasehold improvements | 3 | - | 40 | 197,108 | 183,017 | |||||||||
Machinery and equipment | 2 | - | 29 | 426,949 | 390,432 | |||||||||
Completion services equipment | 4 | - | 10 | 306,218 | 264,225 | |||||||||
Office furniture and equipment | 1 | - | 10 | 53,684 | 46,461 | |||||||||
Vehicles | 2 | - | 10 | 137,354 | 122,246 | |||||||||
Construction in progress | 181,436 | 149,657 | ||||||||||||
Total property, plant and equipment | 2,935,378 | 2,693,208 | ||||||||||||
Accumulated depreciation | (1,021,290 | ) | (865,966 | ) | ||||||||||
$ | 1,914,088 | $ | 1,827,242 | |||||||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | |||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Accrued liabilities: | ||||||||||||||
Accrued compensation | $ | 54,171 | $ | 67,144 | ||||||||||
Insurance liabilities | 13,596 | 11,412 | ||||||||||||
Accrued taxes, other than income taxes | 10,561 | 5,254 | ||||||||||||
Accrued interest | 17,357 | 4,042 | ||||||||||||
Accrued commissions | 3,316 | 3,763 | ||||||||||||
Other | 16,910 | 12,185 | ||||||||||||
$ | 115,911 | $ | 103,800 |
Note_5_Earnings_Per_Share_Tabl
Note 5 - Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income attributable to Oil States International, Inc.: | |||||||||||||||||
Net income from continuing operations | $ | 77,061 | $ | 97,039 | $ | 237,009 | $ | 314,474 | |||||||||
Net income from discontinued operations | 90,679 | 6,753 | 109,445 | 35,616 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 167,740 | $ | 103,792 | $ | 346,454 | $ | 350,090 | |||||||||
Denominator: | |||||||||||||||||
Denominator for basic earnings per share – weighted average shares outstanding during the period | 55,092 | 53,975 | 54,987 | 52,347 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Options on common stock | 323 | 477 | 351 | 513 | |||||||||||||
2 3/8% Contingent Convertible Senior Subordinated Notes | -- | 782 | -- | 2,391 | |||||||||||||
Restricted stock awards and other | 257 | 131 | 204 | 140 | |||||||||||||
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions | 55,672 | 55,365 | 55,542 | 55,391 | |||||||||||||
Basic earnings per share: | |||||||||||||||||
Continuing operations | $ | 1.4 | $ | 1.8 | $ | 4.31 | $ | 6.01 | |||||||||
Discontinued operations | 1.64 | 0.12 | 1.99 | 0.68 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 3.04 | $ | 1.92 | $ | 6.3 | $ | 6.69 | |||||||||
Diluted earnings per share: | |||||||||||||||||
Continuing operations | $ | 1.38 | $ | 1.75 | $ | 4.27 | $ | 5.68 | |||||||||
Discontinued operations | 1.63 | 0.12 | 1.97 | 0.64 | |||||||||||||
Net income attributable to Oil States International, Inc. | $ | 3.01 | $ | 1.87 | $ | 6.24 | $ | 6.32 |
Note_6_Business_Acquisitions_a1
Note 6 - Business Acquisitions and Goodwill (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||||||||||
Well Site Services | |||||||||||||||||||||||||
Completion Services | Drilling Services | Subtotal | Accommodations | Offshore Products | Total | ||||||||||||||||||||
Balance as of December 31, 2011 | |||||||||||||||||||||||||
Goodwill | $ | 169,711 | $ | 22,767 | $ | 192,478 | $ | 291,323 | $ | 100,944 | $ | 584,745 | |||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
75,183 | -- | 75,183 | 291,323 | 100,944 | 467,450 | ||||||||||||||||||||
Goodwill acquired and purchase price adjustments | 31,254 | -- | 31,254 | -- | 17,757 | 49,011 | |||||||||||||||||||
Foreign currency translation and other changes | 316 | -- | 316 | 3,809 | 232 | 4,357 | |||||||||||||||||||
106,753 | -- | 106,753 | 295,132 | 118,933 | 520,818 | ||||||||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||||||
Goodwill | 201,281 | 22,767 | 224,048 | 295,132 | 118,933 | 638,113 | |||||||||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
106,753 | -- | 106,753 | 295,132 | 118,933 | 520,818 | ||||||||||||||||||||
Goodwill acquired and purchase price adjustments | 1,576 | -- | 1,576 | -- | 1,954 | 3,530 | |||||||||||||||||||
Foreign currency translation and other changes | (479 | ) | -- | (479 | ) | (24,015 | ) | (24 | ) | (24,518 | ) | ||||||||||||||
107,850 | -- | 107,850 | 271,117 | 120,863 | 499,830 | ||||||||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||||||
Goodwill | 202,378 | 22,767 | 225,145 | 271,117 | 120,863 | 617,125 | |||||||||||||||||||
Accumulated Impairment Losses | (94,528 | ) | (22,767 | ) | (117,295 | ) | -- | -- | (117,295 | ) | |||||||||||||||
$ | 107,850 | $ | -- | $ | 107,850 | $ | 271,117 | $ | 120,863 | $ | 499,830 |
Note_7_Discontinued_Operations1
Note 7 - Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||||||||||||||
Two | Three | Eight | Nine | ||||||||||||||
Months | Months | Months | Months | ||||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||||
31-Aug-13 | 30-Sep-12 | 31-Aug-13 | 30-Sep-12 | ||||||||||||||
Revenues | $ | 273,637 | $ | 436,160 | $ | 1,073,096 | $ | 1,326,601 | |||||||||
Income from discontinued operations before income taxes | 10,463 | 10,555 | 40,964 | 57,075 | |||||||||||||
Income tax provision | (3,993 | ) | (3,802 | ) | (15,728 | ) | (21,459 | ) | |||||||||
Net income from discontinued operations, net of tax | $ | 6,470 | $ | 6,753 | $ | 25,236 | $ | 35,616 | |||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | ||||||||||||||||
31-Dec-12 | |||||||||||||||||
Assets | |||||||||||||||||
Accounts receivable, net | $ | 184,852 | |||||||||||||||
Inventories, net | 447,503 | ||||||||||||||||
Prepaid expenses and other current assets | 141 | ||||||||||||||||
Total current assets held for sale | $ | 632,496 | |||||||||||||||
Property, plant and equipment, net | $ | 24,884 | |||||||||||||||
Other noncurrent assets | 6,721 | ||||||||||||||||
Total noncurrent assets held for sale | $ | 31,605 | |||||||||||||||
Liabilities | |||||||||||||||||
Accounts payable | $ | 112,291 | |||||||||||||||
Accrued liabilities | 4,106 | ||||||||||||||||
Deferred revenue | 23,289 | ||||||||||||||||
Total current liabilities held for sale | $ | 139,686 | |||||||||||||||
Deferred income taxes | $ | 5,277 | |||||||||||||||
Total noncurrent liabilities held for sale | $ | 5,277 |
Note_8_Debt_Tables
Note 8 - Debt (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
U.S. revolving credit facility, which matures December 10, 2015, with available commitments up to $500 million; no borrowings outstanding during the nine month period ended September 30, 2013 | $ | -- | $ | -- | |||||||||||||
U.S. term loan of $200 million, which was repaid in full in 2013; weighted average interest rate of 2.3% for the nine month period ended September 30, 2013 | -- | 170,000 | |||||||||||||||
Canadian revolving credit facility, which matures on December 10, 2015, with available commitments up to $250 million; no borrowings outstanding during the nine month period ended September 30, 2013 | -- | -- | |||||||||||||||
Canadian term loan of $100 million, which was repaid in full in 2013; weighted average interest rate of 3.3% for the nine month period ended September 30, 2013 | -- | 85,786 | |||||||||||||||
Australian revolving credit facility, which matures December 10, 2015, with available commitments up to A$300 million and with a weighted average interest rate of 5.1% for the nine month period ended September 30, 2013 | -- | 47,803 | |||||||||||||||
6 1/2% senior unsecured notes - due June 2019 | 600,000 | 600,000 | |||||||||||||||
5 1/8% senior unsecured notes - due January 2023 | 400,000 | 400,000 | |||||||||||||||
Capital lease obligations and other debt | 7,336 | 6,696 | |||||||||||||||
Total debt | 1,007,336 | 1,310,285 | |||||||||||||||
Less: Current portion | 492 | 30,480 | |||||||||||||||
Total long-term debt and capitalized leases | $ | 1,006,844 | $ | 1,279,805 | |||||||||||||
' | |||||||||||||||||
Twelve Month Period Beginning January 15, | % of Principal Amount | ||||||||||||||||
2018 | 102.56% | ||||||||||||||||
2019 | 101.71% | ||||||||||||||||
2020 | 100.85% | ||||||||||||||||
2021 and thereafter | 100.00% | ||||||||||||||||
Twelve Month Period Beginning June 1, | % of Principal Amount | ||||||||||||||||
2014 | 104.88% | ||||||||||||||||
2015 | 103.25% | ||||||||||||||||
2016 | 101.63% | ||||||||||||||||
2017 and thereafter | 100.00% | ||||||||||||||||
Interest Expense Excluding Amortization of Debt Issue Costs [Table Text Block] | ' | ||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest expense | $ | -- | $ | -- | $ | -- | $ | 6,185 |
Note_9_Fair_Value_Measurements1
Note 9 - Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | ' | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
5 1/8% Notes | |||||||||||||||||
Principal amount due 2023 | $ | 400,000 | $ | 440,500 | $ | 400,000 | $ | 405,752 | |||||||||
6 1/2% Notes | |||||||||||||||||
Principal amount due 2019 | $ | 600,000 | $ | 638,622 | $ | 600,000 | $ | 641,628 |
Note_10_Changes_in_Common_Stoc1
Note 10 - Changes in Common Stock Outstanding (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Stockholders' Equity Note [Abstract] | ' | ||||
' | |||||
Shares of common stock outstanding – January 1, 2013 | 54,695,473 | ||||
Shares issued upon exercise of stock options and vesting of restricted stock awards | 630,384 | ||||
Repurchase of shares – transferred to treasury | (135,379 | ) | |||
Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury | (51,060 | ) | |||
Shares of common stock outstanding – September 30, 2013 | 55,139,418 |
Note_13_Segment_and_Related_In1
Note 13 - Segment and Related Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 151,857 | $ | 17,173 | $ | 35,302 | $ | - | $ | 25,689 | $ | 593,773 | |||||||||||||
Drilling services | 44,046 | 6,414 | 4,856 | - | 6,410 | 140,096 | |||||||||||||||||||
Total well site services | 195,903 | 23,587 | 40,158 | - | 32,099 | 733,869 | |||||||||||||||||||
Accommodations | 246,280 | 42,011 | 56,809 | (1 | ) | 74,188 | 2,092,415 | ||||||||||||||||||
Offshore products | 242,273 | 4,396 | 40,951 | 73 | 8,335 | 889,619 | |||||||||||||||||||
Corporate and eliminations | - | 223 | (15,941 | ) | - | 388 | 557,569 | ||||||||||||||||||
Total | $ | 684,456 | $ | 70,217 | $ | 121,977 | $ | 72 | $ | 115,010 | $ | 4,273,472 | |||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 130,752 | $ | 12,746 | $ | 32,218 | $ | - | $ | 27,251 | $ | 521,756 | |||||||||||||
Drilling services | 50,995 | 5,793 | 9,943 | - | 10,102 | 136,278 | |||||||||||||||||||
Total well site services | 181,747 | 18,539 | 42,161 | - | 37,353 | 658,034 | |||||||||||||||||||
Accommodations | 273,315 | 36,246 | 85,132 | - | 82,046 | 2,055,964 | |||||||||||||||||||
Offshore products | 189,450 | 3,807 | 28,026 | (103 | ) | 9,846 | 781,483 | ||||||||||||||||||
Corporate and eliminations | - | 279 | (11,172 | ) | - | 98 | 37,708 | ||||||||||||||||||
Total | $ | 644,512 | $ | 58,871 | $ | 144,147 | $ | (103 | ) | $ | 129,343 | $ | 3,533,189 | ||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 431,394 | $ | 48,293 | $ | 91,451 | $ | - | $ | 72,664 | $ | 593,773 | |||||||||||||
Drilling services | 128,462 | 18,330 | 16,069 | - | 20,262 | 140,096 | |||||||||||||||||||
Total well site services | 559,856 | 66,623 | 107,520 | - | 92,926 | 733,869 | |||||||||||||||||||
Accommodations | 787,161 | 124,510 | 206,603 | - | 234,794 | 2,092,415 | |||||||||||||||||||
Offshore products | 647,968 | 12,728 | 110,416 | (758 | ) | 25,957 | 889,619 | ||||||||||||||||||
Corporate and eliminations | - | 684 | (44,877 | ) | - | 1,036 | 557,569 | ||||||||||||||||||
Total | $ | 1,994,985 | $ | 204,545 | $ | 379,662 | $ | (758 | ) | $ | 354,713 | $ | 4,273,472 | ||||||||||||
Revenues from unaffiliated customers | Depreciation and amortization | Operating income (loss) | Equity in earnings (loss) of unconsolidated affiliates | Capital expenditures | Total assets | ||||||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||
Well site services – | |||||||||||||||||||||||||
Completion services | $ | 391,385 | $ | 36,619 | $ | 94,986 | $ | - | $ | 65,125 | $ | 521,756 | |||||||||||||
Drilling services | 149,857 | 16,814 | 25,760 | - | 23,626 | 136,278 | |||||||||||||||||||
Total well site services | 541,242 | 53,433 | 120,746 | - | 88,751 | 658,034 | |||||||||||||||||||
Accommodations | 836,101 | 97,805 | 287,364 | - | 208,171 | 2,055,964 | |||||||||||||||||||
Offshore products | 566,808 | 10,659 | 97,116 | 150 | 30,809 | 781,483 | |||||||||||||||||||
Corporate and eliminations | - | 713 | (33,200 | ) | - | 1,299 | 37,708 | ||||||||||||||||||
Total | $ | 1,944,151 | $ | 162,610 | $ | 472,026 | $ | 150 | $ | 329,030 | $ | 3,533,189 |
Note_16_Condensed_Consolidated1
Note 16 - Condensed Consolidated Financial Information (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Guarantor | Other | Consolidating | Consolidated Oil | |||||||||||||||||
International, | Subsidiaries | Subsidiaries | Adjustments | States | |||||||||||||||||
Inc. (Parent/ | (Non- | International, | |||||||||||||||||||
Guarantor) | Guarantors) | Inc. | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 362,810 | $ | 321,646 | $ | — | $ | 684,456 | |||||||||||
Intercompany revenues | — | 7,282 | 5,433 | (12,715 | ) | — | |||||||||||||||
Total revenues | — | 370,092 | 327,079 | (12,715 | ) | 684,456 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 251,712 | 184,505 | (2,431 | ) | 433,786 | |||||||||||||||
Intercompany cost of sales and services | — | 4,813 | 5,069 | (9,882 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 487 | 33,434 | 20,209 | — | 54,130 | ||||||||||||||||
Depreciation and amortization expense | 223 | 29,397 | 40,641 | (44 | ) | 70,217 | |||||||||||||||
Other operating (income) expense | (312 | ) | 2,845 | 1,813 | — | 4,346 | |||||||||||||||
Operating income (loss) | (398 | ) | 47,891 | 74,842 | (358 | ) | 121,977 | ||||||||||||||
Interest expense, net of capitalized interest | (17,866 | ) | (146 | ) | (13,473 | ) | 12,807 | (18,678 | ) | ||||||||||||
Interest income | 4,724 | 45 | 8,544 | (12,807 | ) | 506 | |||||||||||||||
Loss on extinguishment of debt | (3,265 | ) | — | — | — | (3,265 | ) | ||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 51,231 | 55,737 | 72 | (106,968 | ) | 72 | |||||||||||||||
Other income (expense) | — | (204 | ) | 4,058 | — | 3,854 | |||||||||||||||
Income from continuing operations before income taxes | 34,426 | 103,323 | 74,043 | (107,326 | ) | 104,466 | |||||||||||||||
Income tax provision | 44,345 | (53,563 | ) | (17,841 | ) | — | (27,059 | ) | |||||||||||||
Net income from continuing operations | 78,771 | 49,760 | 56,202 | (107,326 | ) | 77,407 | |||||||||||||||
Net income from discontinued operations, net of tax (including a net gain on disposal of $84,209) | 88,969 | 1,710 | — | — | 90,679 | ||||||||||||||||
Net income | 167,740 | 51,470 | 56,202 | (107,326 | ) | 168,086 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 44,693 | 36,635 | 36,957 | (73,592 | ) | 44,693 | |||||||||||||||
Unrealized loss on forward contracts, net of tax | — | (190 | ) | — | — | (190 | ) | ||||||||||||||
Total other comprehensive income | 44,693 | 36,445 | 36,957 | (73,592 | ) | 44,503 | |||||||||||||||
Comprehensive income | 212,433 | 87,915 | 93,159 | (180,918 | ) | 212,589 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (387 | ) | 7 | (380 | ) | ||||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 212,433 | $ | 87,915 | $ | 92,772 | $ | (180,911 | ) | $ | 212,209 | ||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 294,820 | $ | 349,692 | $ | — | $ | 644,512 | |||||||||||
Intercompany revenues | — | 6,849 | 5,799 | (12,648 | ) | — | |||||||||||||||
Total revenues | — | 301,669 | 355,491 | (12,648 | ) | 644,512 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 201,342 | 194,234 | (1,932 | ) | 393,644 | |||||||||||||||
Intercompany cost of sales and services | — | 4,864 | 5,515 | (10,379 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 461 | 27,993 | 17,830 | — | 46,284 | ||||||||||||||||
Depreciation and amortization expense | 279 | 23,109 | 35,488 | (5 | ) | 58,871 | |||||||||||||||
Other operating (income)expense | (478 | ) | 828 | 1,216 | — | 1,566 | |||||||||||||||
Operating income (loss) | (262 | ) | 43,533 | 101,208 | (332 | ) | 144,147 | ||||||||||||||
Interest expense, net of capitalized interest | (14,143 | ) | (210 | ) | (18,375 | ) | 16,992 | (15,736 | ) | ||||||||||||
Interest income | 5,166 | 22 | 12,244 | (16,992 | ) | 440 | |||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 113,030 | 73,415 | (103 | ) | (186,445 | ) | (103 | ) | |||||||||||||
Other income | — | 333 | 1,910 | — | 2,243 | ||||||||||||||||
Income from continuing operations before income taxes | 103,791 | 117,093 | 96,884 | (186,777 | ) | 130,991 | |||||||||||||||
Income tax provision | — | (10,708 | ) | (22,927 | ) | — | (33,635 | ) | |||||||||||||
Net income from continuing operations | 103,791 | 106,385 | 73,957 | (186,777 | ) | 97,356 | |||||||||||||||
Net income from discontinued operations, net of tax | — | 6,753 | — | — | 6,753 | ||||||||||||||||
Net income | 103,791 | 113,138 | 73,957 | (186,777 | ) | 104,109 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 43,564 | 30,976 | 30,976 | (61,952 | ) | 43,564 | |||||||||||||||
Unrealized loss on forward contracts, net of tax | — | (434 | ) | — | — | (434 | ) | ||||||||||||||
Total other comprehensive income (loss) | 43,564 | 30,542 | 30,976 | (61,952 | ) | 43,130 | |||||||||||||||
Comprehensive income | 147,355 | 143,680 | 104,933 | (248,729 | ) | 147,239 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (353 | ) | (4 | ) | (357 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 147,355 | $ | 143,680 | $ | 104,580 | $ | (248,733 | ) | $ | 146,882 | ||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 994,365 | $ | 1,000,620 | $ | — | $ | 1,994,985 | |||||||||||
Intercompany revenues | — | 23,071 | 18,664 | (41,735 | ) | — | |||||||||||||||
Total revenues | — | 1,017,436 | 1,019,284 | (41,735 | ) | 1,994,985 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 685,336 | 571,406 | (6,146 | ) | 1,250,596 | |||||||||||||||
Intercompany cost of sales and services | — | 16,786 | 17,114 | (33,900 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 1,271 | 99,439 | 55,987 | — | 156,697 | ||||||||||||||||
Depreciation and amortization expense | 683 | 83,551 | 120,436 | (125 | ) | 204,545 | |||||||||||||||
Other operating (income) expense | (177 | ) | 3,031 | 631 | — | 3,485 | |||||||||||||||
Operating income (loss) | (1,777 | ) | 129,293 | 253,710 | (1,564 | ) | 379,662 | ||||||||||||||
Interest expense, net of capitalized interest | (54,214 | ) | (462 | ) | (45,983 | ) | 42,233 | (58,426 | ) | ||||||||||||
Interest income | 14,315 | 136 | 29,490 | (42,233 | ) | 1,708 | |||||||||||||||
Loss on extinguishment of debt | (3,265 | ) | — | — | — | (3,265 | ) | ||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 258,081 | 179,776 | (758 | ) | (437,857 | ) | (758 | ) | |||||||||||||
Other income | — | 812 | 4,791 | — | 5,603 | ||||||||||||||||
Income from continuing operations before income taxes | 213,140 | 309,555 | 241,250 | (439,421 | ) | 324,524 | |||||||||||||||
Income tax provision | 44,345 | (70,774 | ) | (60,000 | ) | — | (86,429 | ) | |||||||||||||
Net income from continuing operations | 257,485 | 238,781 | 181,250 | (439,421 | ) | 238,095 | |||||||||||||||
Net income from discontinued operations, net of tax (including a net gain on disposal of $84,209) | 88,969 | 20,476 | — | — | 109,445 | ||||||||||||||||
Net income | 346,454 | 259,257 | 181,250 | (439,421 | ) | 347,540 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | (125,407 | ) | (109,868 | ) | (113,634 | ) | 223,502 | (125,407 | ) | ||||||||||||
Unrealized loss on forward contracts | — | (74 | ) | — | — | (74 | ) | ||||||||||||||
Total other comprehensive income (loss) | (125,407 | ) | (109,942 | ) | (113,634 | ) | 223,502 | (125,481 | ) | ||||||||||||
Comprehensive income | 221,047 | 149,315 | 67,616 | (215,919 | ) | 222,059 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (1,023 | ) | (22 | ) | (1,045 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 221,047 | $ | 149,315 | $ | 66,593 | $ | (215,941 | ) | $ | 221,014 | ||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Other | Consolidated Oil | |||||||||||||||||||
International, | Subsidiaries | States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
REVENUES | |||||||||||||||||||||
Operating revenues | $ | — | $ | 931,918 | $ | 1,012,233 | $ | — | $ | 1,944,151 | |||||||||||
Intercompany revenues | — | 19,403 | 9,242 | (28,645 | ) | — | |||||||||||||||
Total revenues | — | 951,321 | 1,021,475 | (28,645 | ) | 1,944,151 | |||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||
Cost of sales and services | — | 623,446 | 556,602 | (5,884 | ) | 1,174,164 | |||||||||||||||
Intercompany cost of sales and services | — | 13,393 | 8,644 | (22,037 | ) | — | |||||||||||||||
Selling, general and administrative expenses | 1,287 | 81,179 | 51,182 | — | 133,648 | ||||||||||||||||
Depreciation and amortization expense | 713 | 66,132 | 95,779 | (14 | ) | 162,610 | |||||||||||||||
Other operating (income) expense | (503 | ) | 182 | 2,024 | — | 1,703 | |||||||||||||||
Operating income (loss) | (1,497 | ) | 166,989 | 307,244 | (710 | ) | 472,026 | ||||||||||||||
Interest expense, net of capitalized interest | (47,782 | ) | (645 | ) | (54,489 | ) | 51,299 | (51,617 | ) | ||||||||||||
Interest income | 15,271 | 100 | 36,907 | (51,299 | ) | 979 | |||||||||||||||
Equity in earnings (loss) of unconsolidated affiliates | 382,702 | 221,987 | 149 | (604,688 | ) | 150 | |||||||||||||||
Other income | — | 5,426 | 2,355 | — | 7,781 | ||||||||||||||||
Income from continuing operations before income taxes | 348,694 | 393,857 | 292,166 | (605,398 | ) | 429,319 | |||||||||||||||
Income tax provision | 1,396 | (46,244 | ) | (69,030 | ) | — | (113,878 | ) | |||||||||||||
Net income from continuing operations | 350,090 | 347,613 | 223,136 | (605,398 | ) | 315,441 | |||||||||||||||
Net income from discontinued operations, net of tax | — | 35,616 | — | — | 35,616 | ||||||||||||||||
Net income | 350,090 | 383,229 | 223,136 | (605,398 | ) | 351,057 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Foreign currency translation adjustment | 40,527 | 28,282 | 28,293 | (56,575 | ) | 40,527 | |||||||||||||||
Unrealized loss on forward contracts | — | (434 | ) | — | — | (434 | ) | ||||||||||||||
Total other comprehensive income (loss) | 40,527 | 27,848 | 28,293 | (56,575 | ) | 40,093 | |||||||||||||||
Comprehensive income | 390,617 | 411,077 | 251,429 | (661,973 | ) | 391,150 | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | (988 | ) | (8 | ) | (996 | ) | |||||||||||||
Comprehensive income attributable to Oil States International, Inc. | $ | 390,617 | $ | 411,077 | $ | 250,441 | $ | (661,981 | ) | $ | 390,154 | ||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 512,090 | $ | 18,435 | $ | 245,454 | $ | — | $ | 775,979 | |||||||||||
Accounts receivable, net | 993 | 320,949 | 294,228 | — | 616,170 | ||||||||||||||||
Inventories, net | — | 138,980 | 117,685 | — | 256,665 | ||||||||||||||||
Prepaid expenses and other current assets | 10,762 | 12,230 | 11,236 | — | 34,228 | ||||||||||||||||
Total current assets | 523,845 | 490,594 | 668,603 | — | 1,683,042 | ||||||||||||||||
Property, plant and equipment, net | 2,391 | 605,736 | 1,309,455 | (3,494 | ) | 1,914,088 | |||||||||||||||
Goodwill, net | — | 222,236 | 277,594 | — | 499,830 | ||||||||||||||||
Other intangible assets, net | — | 55,211 | 72,394 | — | 127,605 | ||||||||||||||||
Investments in unconsolidated affiliates | 2,552,624 | 1,687,320 | 2,443 | (4,239,944 | ) | 2,443 | |||||||||||||||
Long-term intercompany receivables (payables) | 559,278 | (164,173 | ) | (395,107 | ) | 2 | — | ||||||||||||||
Other noncurrent assets | 35,444 | 980 | 10,040 | — | 46,464 | ||||||||||||||||
Total assets | $ | 3,673,582 | $ | 2,897,904 | $ | 1,945,422 | $ | (4,243,436 | ) | $ | 4,273,472 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,445 | $ | 66,805 | $ | 76,305 | $ | — | $ | 144,555 | |||||||||||
Accrued liabilities | 35,624 | 46,264 | 34,021 | 2 | 115,911 | ||||||||||||||||
Income taxes | (93,494 | ) | 145,737 | 14,251 | — | 66,494 | |||||||||||||||
Current portion of long-term debt and capitalized leases | 22 | 438 | 32 | — | 492 | ||||||||||||||||
Deferred revenue | — | 30,666 | 35,258 | — | 65,924 | ||||||||||||||||
Other current liabilities | — | 9,910 | 258 | — | 10,168 | ||||||||||||||||
Total current liabilities | (56,403 | ) | 299,820 | 160,125 | 2 | 403,544 | |||||||||||||||
Long-term debt and capitalized leases | 1,000,008 | 6,779 | 57 | — | 1,006,844 | ||||||||||||||||
Deferred income taxes | 5,268 | 64,078 | 58,997 | — | 128,343 | ||||||||||||||||
Other noncurrent liabilities | 15,690 | 1,742 | 7,180 | (449 | ) | 24,163 | |||||||||||||||
Total liabilities | 964,563 | 372,419 | 226,359 | (447 | ) | 1,562,894 | |||||||||||||||
Stockholders’ equity | 2,709,019 | 2,525,485 | 1,717,673 | (4,243,158 | ) | 2,709,019 | |||||||||||||||
Non-controlling interest | — | — | 1,390 | 169 | 1,559 | ||||||||||||||||
Total stockholders’ equity | 2,709,019 | 2,525,485 | 1,719,063 | (4,242,989 | ) | 2,710,578 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,673,582 | $ | 2,897,904 | $ | 1,945,422 | $ | (4,243,436 | ) | $ | 4,273,472 | ||||||||||
31-Dec-12 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 3,222 | $ | 57,205 | $ | 192,745 | $ | — | $ | 253,172 | |||||||||||
Accounts receivable, net | 431 | 302,123 | 345,379 | — | 647,933 | ||||||||||||||||
Inventories, net | — | 135,500 | 118,494 | — | 253,994 | ||||||||||||||||
Current assets held for sale | — | 632,496 | — | — | 632,496 | ||||||||||||||||
Prepaid expenses and other current assets | 4,592 | 20,628 | 13,277 | — | 38,497 | ||||||||||||||||
Total current assets | 8,245 | 1,147,952 | 669,895 | — | 1,826,092 | ||||||||||||||||
Property, plant and equipment, net | 1,922 | 553,145 | 1,274,106 | (1,931 | ) | 1,827,242 | |||||||||||||||
Goodwill, net | — | 221,610 | 299,208 | — | 520,818 | ||||||||||||||||
Other intangible assets, net | — | 58,269 | 87,834 | — | 146,103 | ||||||||||||||||
Investments in unconsolidated affiliates | 2,658,946 | 1,614,822 | 3,000 | (4,273,768 | ) | 3,000 | |||||||||||||||
Long-term intercompany receivables (payables) | 855,354 | (495,655 | ) | (359,697 | ) | (2 | ) | — | |||||||||||||
Noncurrent assets held for sale | — | 31,605 | — | — | 31,605 | ||||||||||||||||
Other noncurrent assets | 40,989 | 25,977 | 18,136 | — | 85,102 | ||||||||||||||||
Total assets | $ | 3,565,456 | $ | 3,157,725 | $ | 1,992,482 | $ | (4,275,701 | ) | $ | 4,439,962 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,847 | $ | 68,558 | $ | 97,237 | $ | — | $ | 167,642 | |||||||||||
Accrued liabilities | 17,147 | 49,388 | 37,267 | (2 | ) | 103,800 | |||||||||||||||
Income taxes | (95,930 | ) | 94,996 | 30,522 | — | 29,588 | |||||||||||||||
Current portion of long-term debt and capitalized leases | 20,022 | 314 | 10,144 | — | 30,480 | ||||||||||||||||
Deferred revenue | — | 26,295 | 16,727 | — | 43,022 | ||||||||||||||||
Current liabilities held for sale | — | 139,686 | — | — | 139,686 | ||||||||||||||||
Other current liabilities | — | 4,027 | 287 | — | 4,314 | ||||||||||||||||
Total current liabilities | (56,914 | ) | 383,264 | 192,184 | (2 | ) | 518,532 | ||||||||||||||
Long-term debt and capitalized leases | 1,150,024 | 6,203 | 123,578 | — | 1,279,805 | ||||||||||||||||
Deferred income taxes | (4,772 | ) | 75,204 | 53,526 | — | 123,958 | |||||||||||||||
Noncurrent liabilities held for sale | — | 5,277 | — | — | 5,277 | ||||||||||||||||
Other noncurrent liabilities | 12,713 | 26,906 | 7,420 | (449 | ) | 46,590 | |||||||||||||||
Total liabilities | 1,101,051 | 496,854 | 376,708 | (451 | ) | 1,974,162 | |||||||||||||||
Stockholders’ equity | 2,464,405 | 2,660,871 | 1,614,526 | (4,275,397 | ) | 2,464,405 | |||||||||||||||
Non-controlling interest | — | — | 1,248 | 147 | 1,395 | ||||||||||||||||
Total stockholders’ equity | 2,464,405 | 2,660,871 | 1,615,774 | (4,275,250 | ) | 2,465,800 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,565,456 | $ | 3,157,725 | $ | 1,992,482 | $ | (4,275,701 | ) | $ | 4,439,962 | ||||||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Oil States | Other | Consolidated | |||||||||||||||||||
International, | Subsidiaries | Oil States | |||||||||||||||||||
Inc. (Parent/ | Guarantor | (Non- | Consolidating | International, | |||||||||||||||||
Guarantor) | Subsidiaries | Guarantors) | Adjustments | Inc. | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: | $ | (90,282 | ) | $ | 324,496 | $ | 350,151 | $ | (1,688 | ) | $ | 582,677 | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures, including capitalized interest | (1,036 | ) | (138,779 | ) | (217,512 | ) | 1,688 | (355,639 | ) | ||||||||||||
Acquisitions of businesses, net of cash acquired | — | (321 | ) | (1,450 | ) | — | (1,771 | ) | |||||||||||||
Proceeds from disposition of property, plant and equipment | — | 1,735 | 6,800 | — | 8,535 | ||||||||||||||||
Proceeds from sale of business | 600,000 | — | — | — | 600,000 | ||||||||||||||||
Payments for equity contributions | (56,646 | ) | (2,518 | ) | — | 59,164 | — | ||||||||||||||
Other, net | 1 | 80 | — | — | 81 | ||||||||||||||||
Net cash provided by (used in) investing activities | 542,319 | (139,803 | ) | (212,162 | ) | 60,852 | 251,206 | ||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Revolving credit borrowings (repayments), net | — | — | (47,901 | ) | — | (47,901 | ) | ||||||||||||||
Term loan repayments | (170,000 | ) | — | (82,762 | ) | — | (252,762 | ) | |||||||||||||
Debt and capital lease payments | (17 | ) | (274 | ) | (1,889 | ) | — | (2,180 | ) | ||||||||||||
Issuance of common stock from share-based payment arrangements | 14,172 | — | — | — | 14,172 | ||||||||||||||||
Purchase of treasury stock | (11,889 | ) | — | — | — | (11,889 | ) | ||||||||||||||
Excess tax benefits from share-based payment arrangements | 5,447 | — | — | — | 5,447 | ||||||||||||||||
Payment of financing costs | (203 | ) | — | — | — | (203 | ) | ||||||||||||||
Proceeds from (funding of) accounts and notes with affiliates, net | 223,483 | (245,689 | ) | 22,206 | — | — | |||||||||||||||
Payments from equity contributions | — | 22,569 | 36,595 | (59,164 | ) | — | |||||||||||||||
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | (4,161 | ) | — | — | — | (4,161 | ) | ||||||||||||||
Other, net | (1 | ) | 1 | (1 | ) | — | (1 | ) | |||||||||||||
Net cash provided by (used in) financing activities | 56,831 | (223,393 | ) | (73,752 | ) | (59,164 | ) | (299,478 | ) | ||||||||||||
Effect of exchange rate changes on cash | — | (70 | ) | (11,528 | ) | — | (11,598 | ) | |||||||||||||
Net change in cash and cash equivalents | 508,868 | (38,770 | ) | 52,709 | — | 522,807 | |||||||||||||||
Cash and cash equivalents, beginning of period | 3,222 | 57,205 | 192,745 | — | 253,172 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 512,090 | $ | 18,435 | $ | 245,454 | $ | — | $ | 775,979 | |||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Oil States | Guarantor | Other | Consolidating | Consolidated | |||||||||||||||||
International, | Subsidiaries | Subsidiaries | Adjustments | Oil States | |||||||||||||||||
Inc. (Parent/ | (Non- | International, | |||||||||||||||||||
Guarantor) | Guarantors) | Inc. | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: | $ | (108,585 | ) | $ | 258,575 | $ | 295,544 | $ | — | $ | 445,534 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures, including capitalized interest | (1,299 | ) | (137,792 | ) | (192,659 | ) | — | (331,750 | ) | ||||||||||||
Acquisitions of businesses, net of cash acquired | — | (48,000 | ) | — | — | (48,000 | ) | ||||||||||||||
Proceeds from disposition of property, plant and equipment | — | 5,944 | 3,665 | — | 9,609 | ||||||||||||||||
Payments for equity contributions | (14,012 | ) | (10,006 | ) | (1,715 | ) | 24,018 | (1,715 | ) | ||||||||||||
Other, net | — | 49 | (2 | ) | — | 47 | |||||||||||||||
Net cash provided by (used in) investing activities | (15,311 | ) | (189,805 | ) | (190,711 | ) | 24,018 | (371,809 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Revolving credit borrowings (repayments), net | 208,254 | — | (6,417 | ) | — | 201,837 | |||||||||||||||
Payment of principal on 2 3/8% Notes conversion``` | (174,990 | ) | — | — | — | (174,990 | ) | ||||||||||||||
Term loan repayments | (15,000 | ) | — | (7,510 | ) | — | (22,510 | ) | |||||||||||||
Debt and capital lease payments | (15 | ) | (2,314 | ) | (124 | ) | — | (2,453 | ) | ||||||||||||
Issuance of common stock from share-based payment arrangements | 13,108 | — | — | — | 13,108 | ||||||||||||||||
Excess tax benefits from share-based payment arrangements | 7,739 | — | — | — | 7,739 | ||||||||||||||||
Payment of financing costs | (23 | ) | — | (3,241 | ) | — | (3,264 | ) | |||||||||||||
Proceeds from (funding of) accounts and notes with affiliates, net | 89,490 | (80,384 | ) | (9,106 | ) | — | — | ||||||||||||||
Payments from equity contributions | — | 14,012 | 10,006 | (24,018 | ) | — | |||||||||||||||
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | (4,167 | ) | — | — | — | (4,167 | ) | ||||||||||||||
Other, net | — | 1 | 2 | — | 3 | ||||||||||||||||
Net cash provided by (used in) financing activities | 124,396 | (68,685 | ) | (16,390 | ) | (24,018 | ) | 15,303 | |||||||||||||
Effect of exchange rate changes on cash | — | — | 2,802 | — | 2,802 | ||||||||||||||||
Net change in cash and cash equivalents | 500 | 85 | 91,245 | — | 91,830 | ||||||||||||||||
Cash and cash equivalents, beginning of period | (295 | ) | 1,736 | 70,280 | — | 71,721 | |||||||||||||||
Cash and cash equivalents, end of period | $ | 205 | $ | 1,821 | $ | 161,525 | $ | — | $ | 163,551 |
Note_3_Details_of_Selected_Bal2
Note 3 - Details of Selected Balance Sheet Accounts (Details) - Accounts Receivable (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable | $622,492 | $652,855 |
Allowance for doubtful accounts | -6,322 | -4,922 |
616,170 | 647,933 | |
Trade Accounts Receivable [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable | 421,623 | 455,031 |
Unbilled Revenue [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable | 196,312 | 194,133 |
Other Receivables [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable | $4,557 | $3,691 |
Note_3_Details_of_Selected_Bal3
Note 3 - Details of Selected Balance Sheet Accounts (Details) - Inventories (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories, net: | ' | ' |
Finished goods and purchased products | $96,023 | $90,974 |
Work in process | 62,460 | 64,267 |
Raw materials | 108,333 | 107,356 |
Total inventories | 266,816 | 262,597 |
Allowance for excess, damaged, or obsolete inventory | -10,151 | -8,603 |
$256,665 | $253,994 |
Note_3_Details_of_Selected_Bal4
Note 3 - Details of Selected Balance Sheet Accounts (Details) - Property, Plant and Equipment (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Land [Member] | Land [Member] | Accommodation Assets [Member] | Accommodation Assets [Member] | Accommodation Assets [Member] | Accommodation Assets [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Completion Services [Member] | Completion Services [Member] | Completion Services [Member] | Completion Services [Member] | Office Furniture And Equipment [Member] | Office Furniture And Equipment [Member] | Office Furniture And Equipment [Member] | Office Furniture And Equipment [Member] | Vehicles [Member] | Vehicles [Member] | Vehicles [Member] | Vehicles [Member] | Construction in Progress [Member] | Construction in Progress [Member] | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | ' | ' | ' | '3 years | '15 years | ' | ' | '3 years | '40 years | ' | ' | '2 years | '29 years | ' | ' | '4 years | '10 years | ' | ' | '1 year | '10 years | ' | ' | '2 years | '10 years | ' | ' |
Balance | $2,935,378 | $2,693,208 | $69,505 | $55,340 | $1,563,124 | $1,481,830 | ' | ' | $197,108 | $183,017 | ' | ' | $426,949 | $390,432 | ' | ' | $306,218 | $264,225 | ' | ' | $53,684 | $46,461 | ' | ' | $137,354 | $122,246 | ' | ' | $181,436 | $149,657 |
Accumulated depreciation | -1,021,290 | -865,966 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
$1,914,088 | $1,827,242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_3_Details_of_Selected_Bal5
Note 3 - Details of Selected Balance Sheet Accounts (Details) - Accrued Liabilities (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued liabilities: | ' | ' |
Accrued compensation | $54,171 | $67,144 |
Insurance liabilities | 13,596 | 11,412 |
Accrued taxes, other than income taxes | 10,561 | 5,254 |
Accrued interest | 17,357 | 4,042 |
Accrued commissions | 3,316 | 3,763 |
Other | 16,910 | 12,185 |
$115,911 | $103,800 |
Note_4_Accumulated_Other_Compr1
Note 4 - Accumulated Other Comprehensive Income (Loss) (Details) | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
USD ($) | AUD | CAD | USD ($) | Canada, Dollars | Canada, Dollars | Australia, Dollars | Australia, Dollars | |
Note 4 - Accumulated Other Comprehensive Income (Loss) (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (in Dollars) | ($18,384,000) | ' | ' | $107,097,000 | ' | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income (in Dollars) | -125,500,000 | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Exchange Rate, Translation | ' | ' | ' | ' | 0.97 | 1.01 | 0.93 | 1.04 |
Decrease in Foreign Currency Exchange Rate | ' | ' | ' | ' | 4.00% | ' | 11.00% | ' |
Functional Currency Net Assets (in Dollars and Dollars) | ' | 941,000,000 | 926,000,000 | ' | ' | ' | ' | ' |
Note_5_Earnings_Per_Share_Deta
Note 5 - Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 247,432 | 303,833 | 344,251 | 424,299 |
Note_5_Earnings_Per_Share_Deta1
Note 5 - Earnings Per Share (Details) - Earnings Per Share Calculation (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income attributable to Oil States International, Inc.: | ' | ' | ' | ' |
Net income from continuing operations (in Dollars) | $77,061 | $97,039 | $237,009 | $314,474 |
Net income from discontinued operations (in Dollars) | 90,679 | 6,753 | 109,445 | 35,616 |
Net income attributable to Oil States International, Inc. (in Dollars) | $167,740 | $103,792 | $346,454 | $350,090 |
Denominator for basic earnings per share – weighted average shares outstanding during the period (in Shares) | 55,092 | 53,975 | 54,987 | 52,347 |
Options on common stock (in Shares) | 323 | 477 | 351 | 513 |
2 3/8% Contingent Convertible Senior Subordinated Notes (in Shares) | 0 | 782 | 0 | 2,391 |
Restricted stock awards and other (in Shares) | 257 | 131 | 204 | 140 |
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions (in Shares) | 55,672 | 55,365 | 55,542 | 55,391 |
Continuing operations | $1.40 | $1.80 | $4.31 | $6.01 |
Discontinued operations | $1.64 | $0.12 | $1.99 | $0.68 |
Net income attributable to Oil States International, Inc. | $3.04 | $1.92 | $6.30 | $6.69 |
Continuing operations | $1.38 | $1.75 | $4.27 | $5.68 |
Discontinued operations | $1.63 | $0.12 | $1.97 | $0.64 |
Net income attributable to Oil States International, Inc. | $3.01 | $1.87 | $6.24 | $6.32 |
Note_5_Earnings_Per_Share_Deta2
Note 5 - Earnings Per Share (Details) - Earnings Per Share Calculation (Parentheticals) | Sep. 30, 2012 |
Earnings Per Share Calculation [Abstract] | ' |
Interest Rate | 2.38% |
Note_6_Business_Acquisitions_a2
Note 6 - Business Acquisitions and Goodwill (Details) (USD $) | 1 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | ||||||
Aug. 29, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 14, 2012 | Jul. 02, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | |
Tempress Technologies Inc [Member] | Tempress Technologies Inc [Member] | Tempress Technologies Inc [Member] | Tempress Technologies Inc [Member] | Liabilities for Contingent Consideration and Escrowed Amounts [Member] | ||||||
Note 6 - Business Acquisitions and Goodwill (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | 51.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | $1,450,000 | ' | ' | ' | ' | $32,500,000 | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | 4,000,000 | ' | 0 | ' | 49,500,000 | ' | ' | 20,000,000 | ' |
Business Combination, Assets and Liabilities Arising from Contingencies, Amount Recognized, Net | ' | ' | ' | ' | ' | 17,000,000 | ' | ' | ' | ' |
Other Cost and Expense, Operating | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' |
Other Cost and Expense, Operating, Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | $0.05 | ' | ' |
Other Assets, Current | ' | ' | ' | ' | ' | ' | ' | ' | 5,300,000 | ' |
Other Liabilities, Current | ' | ' | 10,168,000 | ' | 4,314,000 | ' | ' | ' | 5,300,000 | ' |
Business Combination, Consideration Transferred | ' | 47,100,000 | ' | ' | ' | ' | 48,000,000 | ' | ' | ' |
Other Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,000,000 |
Note_6_Business_Acquisitions_a3
Note 6 - Business Acquisitions and Goodwill (Details) - Changes in the Carrying Value of Goodwill (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $617,125 | $638,113 | $584,745 |
Accumulated Impairment Losses | -117,295 | -117,295 | -117,295 |
Goodwill after impairment loss | 499,830 | 520,818 | ' |
Goodwill acquired and purchase price adjustments | 3,530 | 49,011 | ' |
Foreign currency translation and other changes | -24,518 | 4,357 | ' |
Well Site Services - Completion Services [Member] | Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | 106,753 | 75,183 |
Well Site Services - Completion Services [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 202,378 | 201,281 | 169,711 |
Accumulated Impairment Losses | -94,528 | -94,528 | -94,528 |
Goodwill after impairment loss | 107,850 | 106,753 | ' |
Goodwill acquired and purchase price adjustments | 1,576 | 31,254 | ' |
Foreign currency translation and other changes | -479 | 316 | ' |
Well Site Services - Drilling Services [Member] | Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | 0 | 0 |
Well Site Services - Drilling Services [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 22,767 | 22,767 | 22,767 |
Accumulated Impairment Losses | -22,767 | -22,767 | -22,767 |
Goodwill after impairment loss | 0 | 0 | ' |
Goodwill acquired and purchase price adjustments | 0 | 0 | ' |
Foreign currency translation and other changes | 0 | 0 | ' |
Total Well Site Services [Member] | Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | 106,753 | 75,183 |
Total Well Site Services [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 225,145 | 224,048 | 192,478 |
Accumulated Impairment Losses | -117,295 | -117,295 | -117,295 |
Goodwill after impairment loss | 107,850 | 106,753 | ' |
Goodwill acquired and purchase price adjustments | 1,576 | 31,254 | ' |
Foreign currency translation and other changes | -479 | 316 | ' |
Accommodations [Member] | Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | 295,132 | 291,323 |
Accommodations [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 271,117 | 295,132 | 291,323 |
Accumulated Impairment Losses | 0 | 0 | 0 |
Goodwill after impairment loss | 271,117 | 295,132 | ' |
Goodwill acquired and purchase price adjustments | 0 | 0 | ' |
Foreign currency translation and other changes | -24,015 | 3,809 | ' |
Offshore Products [Member] | Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | 118,933 | 100,944 |
Offshore Products [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 120,863 | 118,933 | 100,944 |
Accumulated Impairment Losses | 0 | 0 | 0 |
Goodwill after impairment loss | 120,863 | 118,933 | ' |
Goodwill acquired and purchase price adjustments | 1,954 | 17,757 | ' |
Foreign currency translation and other changes | -24 | 232 | ' |
Goodwill Before Acquisition [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill after impairment loss | ' | $520,818 | $467,450 |
Note_7_Discontinued_Operations2
Note 7 - Discontinued Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 06, 2013 | |
Sooner [Member] | Sooner [Member] | |||
Note 7 - Discontinued Operations (Details) [Line Items] | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds | ' | ' | ' | ($600,000,000) |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | ' | ' | 128,600,000 | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $84,209,000 | $84,209,000 | $84,200,000 | ' |
Note_7_Discontinued_Operations3
Note 7 - Discontinued Operations (Details) - Operating Results of Discontinued Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Results of Discontinued Operations [Abstract] | ' | ' | ' | ' |
Revenues | $273,637 | $436,160 | $1,073,096 | $1,326,601 |
Income from discontinued operations before income taxes | 10,463 | 10,555 | 40,964 | 57,075 |
Income tax provision | -3,993 | -3,802 | -15,728 | -21,459 |
Net income from discontinued operations, net of tax | $90,679 | $6,753 | $109,445 | $35,616 |
Note_7_Discontinued_Operations4
Note 7 - Discontinued Operations (Details) - Major Classes of Assets and Liabilities Held for Sale (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Accounts receivable, net | ' | $184,852 |
Inventories, net | ' | 447,503 |
Prepaid expenses and other current assets | ' | 141 |
Total current assets held for sale | 0 | 632,496 |
Property, plant and equipment, net | ' | 24,884 |
Other noncurrent assets | ' | 6,721 |
Total noncurrent assets held for sale | 0 | 31,605 |
Liabilities | ' | ' |
Accounts payable | ' | 112,291 |
Accrued liabilities | ' | 4,106 |
Deferred revenue | ' | 23,289 |
Total current liabilities held for sale | 0 | 139,686 |
Deferred income taxes | ' | 5,277 |
Total noncurrent liabilities held for sale | $0 | $5,277 |
Note_8_Debt_Details
Note 8 - Debt (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||
Jul. 31, 2012 | 17-May-12 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 21, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 15, 2005 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | 5 1/8% Senior Notes [Member] | 5 1/8% Senior Notes [Member] | 5 1/8% Senior Notes [Member] | 6 1/2% Senior Notes [Member] | 6 1/2% Senior Notes [Member] | 6 1/2% Senior Notes [Member] | 2 3/8% Senior Subordinated Notes [Member] | Australian Credit Facility [Member] | |
USD ($) | USD ($) | AUD | ||||||||||||||
Note 8 - Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 2.38% | ' | 2.38% | ' | ' | ' | 5.13% | 5.13% | ' | 6.50% | 6.50% | ' | ' |
Debt Instrument, Face Amount | ' | $174,990,000 | ' | ' | ' | ' | ' | ' | $400,000,000 | ' | ' | $600,000,000 | ' | ' | ' | ' |
Redemption of Senior Unsecured Notes Condition One | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'At any time prior to January15, 2016, the Company may redeem up to 35% of the 5 1/8% Notes at a redemption price of 105.125% of the principal amount, plus accrued and unpaid interest to the redemption date, with the proceeds of certain equity offerings. | ' | ' | 'At any time prior to June1, 2014, the Company may redeem up to 35% of the 6 1/2% Notes at a redemption price of 106.5% of the principal amount, plus accrued and unpaid interest to the redemption date, with the proceeds of certain equity offerings. | ' | ' | ' |
Redemption of Senior Unsecured Notes Condition Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Prior to January15, 2018, the Company may redeem some or all of the 5 1/8% Notes for cash at a redemption price equal to 100% of their principal amount plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. | ' | ' | 'Prior to June1, 2014, the Company may redeem some or all of the 6 1/2% Notes for cash at a redemption price equal to 100% of their principal amount plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. On and after June1, 2014, the Company may redeem some or all of the 6 1/2% Notes at redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date. | ' | ' | ' |
Proceeds Of Senior Unsecured Notes Utilized To Repay Its Senior Secured Credit Facilities | ' | ' | ' | ' | ' | ' | ' | ' | 334,000,000 | ' | ' | 515,000,000 | ' | ' | ' | ' |
Proceeds Of Senior Unsecured Notes Utilized For General Corporate Purposes | ' | ' | ' | ' | ' | ' | ' | ' | 61,000,000 | ' | ' | 75,000,000 | ' | ' | ' | ' |
Redemption Price as Percentage of Principal Amount Plus Accrued and Unpaid Interest | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 3,012,380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Conversion of Convertible Securities | 220,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.17% | ' |
Cash and Cash Equivalents, at Carrying Value | ' | ' | 775,979,000 | 163,551,000 | 775,979,000 | 163,551,000 | 253,172,000 | 71,721,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility Remaining Borrowing Capacity | ' | ' | 716,800,000 | ' | 716,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 |
Letters of Credit Outstanding, Amount | ' | ' | 33,200,000 | ' | 33,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Costs Capitalized | ' | ' | $200,000 | $700,000 | $800,000 | $3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_8_Debt_Details_Longterm_D
Note 8 - Debt (Details) - Long-term Debt (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Less: Current portion | $492 | $30,480 |
Total long-term debt and capitalized leases | 1,006,844 | 1,279,805 |
Domestic Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 0 | 170,000 |
Canadian Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 0 | 85,786 |
6 1/2% Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 600,000 | 600,000 |
5 1/8% Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 400,000 | 400,000 |
Capital Lease Obligations And Other Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 7,336 | 6,696 |
Gross [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 1,007,336 | 1,310,285 |
Domestic Line of Credit [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 0 | 0 |
Canadian Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | 0 | 0 |
Australian Credit Facility 2 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debt | $0 | $47,803 |
Note_8_Debt_Details_Longterm_D1
Note 8 - Debt (Details) - Long-term Debt (Parentheticals) (USD $) | Sep. 30, 2012 | 17-May-12 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 21, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Domestic Term Loan [Member] | Domestic Term Loan [Member] | Canadian Term Loan [Member] | Canadian Term Loan [Member] | 6 1/2% Senior Notes [Member] | 6 1/2% Senior Notes [Member] | 6 1/2% Senior Notes [Member] | 5 1/8% Senior Notes [Member] | 5 1/8% Senior Notes [Member] | 5 1/8% Senior Notes [Member] | Domestic Line of Credit [Member] | Domestic Line of Credit [Member] | Canadian Revolving Credit Facility [Member] | Canadian Revolving Credit Facility [Member] | Australian Credit Facility 2 [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available Commitments up to (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000,000 | $500,000,000 | $250,000,000 | $250,000,000 | $300,000,000 |
Term Loan (in Dollars) | ' | $174,990,000 | $200,000,000 | $200,000,000 | $100,000,000 | $100,000,000 | ' | ' | $600,000,000 | ' | ' | $400,000,000 | ' | ' | ' | ' | ' |
Aggregate Principal Repayable per Quarter of | ' | ' | 2.50% | 2.50% | 2.50% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Interest Rate of | ' | ' | 2.30% | ' | 3.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.10% |
Interest Rate | 2.38% | ' | ' | ' | ' | ' | 6.50% | 6.50% | ' | 5.13% | 5.13% | ' | ' | ' | ' | ' | ' |
Note_8_Debt_Details_The_Option
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount | 9 Months Ended |
Sep. 30, 2013 | |
Twelve Month Period Beginning Jan 15, 2018 [Member] | 5 1/8% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 102.56% |
Twelve Month Period Beginning Jan 15, 2019 [Member] | 5 1/8% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 101.71% |
Twelve Month Period Beginning Jan 15, 2020 [Member] | 5 1/8% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 100.85% |
Twelve Month Period Beginning Jan 15, 2021 and Thereafter [Member] | 5 1/8% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 100.00% |
Twelve Month Period Beginning June 1, 2014 [Member] | 6 1/2% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 104.88% |
Twelve Month Period Beginning June 1, 2015 [Member] | 6 1/2% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 103.25% |
Twelve Month Period Beginning June 1, 2016 [Member] | 6 1/2% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 101.63% |
Twelve Month Period Beginning June 1, 2017 and Thereafter [Member] | 6 1/2% Senior Notes [Member] | ' |
Note 8 - Debt (Details) - The Optional Redemption Prices As a Percentage of Principal Amount [Line Items] | ' |
Percentage of principal amount | 100.00% |
Note_8_Debt_Details_Interest_E
Note 8 - Debt (Details) - Interest Expense Excluding Amortization of Debt Issue Costs (2 3/8% Senior Subordinated Notes [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
2 3/8% Senior Subordinated Notes [Member] | ' | ' | ' | ' |
Note 8 - Debt (Details) - Interest Expense Excluding Amortization of Debt Issue Costs [Line Items] | ' | ' | ' | ' |
Interest expense | $0 | $0 | $0 | $6,185 |
Note_9_Fair_Value_Measurements2
Note 9 - Fair Value Measurements (Details) - The Carrying Values and Fair Values of These Notes Are as Follows (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
5 1/8% Senior Notes [Member] | ' | ' |
Note 9 - Fair Value Measurements (Details) - The Carrying Values and Fair Values of These Notes Are as Follows [Line Items] | ' | ' |
Carrying Value | $400,000 | $400,000 |
Fair Value | 440,500 | 405,752 |
6 1/2% Senior Notes [Member] | ' | ' |
Note 9 - Fair Value Measurements (Details) - The Carrying Values and Fair Values of These Notes Are as Follows [Line Items] | ' | ' |
Carrying Value | 600,000 | 600,000 |
Fair Value | $638,622 | $641,628 |
Note_10_Changes_in_Common_Stoc2
Note 10 - Changes in Common Stock Outstanding (Details) - Changes in Common Stock Outstanding | 9 Months Ended |
Sep. 30, 2013 | |
Changes in Common Stock Outstanding [Abstract] | ' |
Shares of common stock outstanding | 54,695,473 |
Shares issued upon exercise of stock options and vesting of restricted stock awards | 630,384 |
Repurchase of shares – transferred to treasury | -135,379 |
Shares withheld for taxes on vesting of restricted stock awards and transferred to treasury | -51,060 |
Shares of common stock outstanding | 55,139,418 |
Note_11_Stock_Based_Compensati1
Note 11 - Stock Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Awards Which Vest 100% in March 2014 [Member] | Sooner [Member] | Sooner [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Performance Based Awards that May Vest in Feb 2016 [Member] | Awards which Vest 100% in May 2014 [Member] | Awards which Vest 100% in Feb 2014 [Member] | Stock Options And Restricted Units [Member] | |||||
Gain on Disposal [Member] | |||||||||||||
Note 11 - Stock Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) | ' | ' | 311,410 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | ' | $25,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Restricted Stock Awards Vested In Equal Installments (in Shares) | ' | ' | 264,557 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Equal Installments In Which Restricted Stock Awards Vest | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Awards To Be Vested In Future Period (in Shares) | ' | ' | ' | ' | 2,750 | ' | ' | ' | ' | 30,314 | 9,880 | 3,500 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | ' | ' | 71,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Equal Installments In Which Phantom Share Awards Vest | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 149,402 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-Based Compensation Arrangement by Share-Based Payment Award Options Term | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | ' | $80.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Fair Value | ' | ' | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Equal Installments In Which Stock Options Vest | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | 7,800,000 | 4,700,000 | 22,938,000 | 13,934,000 | ' | ' | 4,700,000 | 21,700,000 | 13,500,000 | ' | ' | ' | ' |
Stock Based Compensation Expense Per Diluted Share After Tax (in Dollars per share) | $0.11 | $0.07 | $0.31 | $0.19 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | ' | 13,400,000 | 14,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,200,000 |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | ' | ' | ' | ' | ' | $128,600,000 | ' | ' | ' | ' | ' | ' | ' |
Note_12_Income_Taxes_Details
Note 12 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income Tax Expense (Benefit) (in Dollars) | $27,059 | $33,635 | $86,429 | $113,878 |
Effective Income Tax Rate Reconciliation, Percent | 25.90% | 25.70% | 26.60% | 26.50% |
Note_13_Segment_and_Related_In2
Note 13 - Segment and Related Information (Details) - Financial Information by Business Segment (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | $684,456 | $644,512 | $1,994,985 | $1,944,151 | ' |
Depreciation and amortization | 70,217 | 58,871 | 204,545 | 162,610 | ' |
Operating income (loss) | 121,977 | 144,147 | 379,662 | 472,026 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 72 | -103 | -758 | 150 | ' |
Capital expenditures | 115,010 | 129,343 | 355,639 | 331,750 | ' |
Total assets | 4,273,472 | 3,533,189 | 4,273,472 | 3,533,189 | 4,439,962 |
Well Site Services - Completion Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 151,857 | 130,752 | 431,394 | 391,385 | ' |
Depreciation and amortization | 17,173 | 12,746 | 48,293 | 36,619 | ' |
Operating income (loss) | 35,302 | 32,218 | 91,451 | 94,986 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 0 | 0 | 0 | 0 | ' |
Capital expenditures | 25,689 | 27,251 | 72,664 | 65,125 | ' |
Total assets | 593,773 | 521,756 | 593,773 | 521,756 | ' |
Well Site Services - Drilling Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 44,046 | 50,995 | 128,462 | 149,857 | ' |
Depreciation and amortization | 6,414 | 5,793 | 18,330 | 16,814 | ' |
Operating income (loss) | 4,856 | 9,943 | 16,069 | 25,760 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 0 | 0 | 0 | 0 | ' |
Capital expenditures | 6,410 | 10,102 | 20,262 | 23,626 | ' |
Total assets | 140,096 | 136,278 | 140,096 | 136,278 | ' |
Total Well Site Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 195,903 | 181,747 | 559,856 | 541,242 | ' |
Depreciation and amortization | 23,587 | 18,539 | 66,623 | 53,433 | ' |
Operating income (loss) | 40,158 | 42,161 | 107,520 | 120,746 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 0 | 0 | 0 | 0 | ' |
Capital expenditures | 32,099 | 37,353 | 92,926 | 88,751 | ' |
Total assets | 733,869 | 658,034 | 733,869 | 658,034 | ' |
Accommodations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 246,280 | 273,315 | 787,161 | 836,101 | ' |
Depreciation and amortization | 42,011 | 36,246 | 124,510 | 97,805 | ' |
Operating income (loss) | 56,809 | 85,132 | 206,603 | 287,364 | ' |
Equity in earnings (loss) of unconsolidated affiliates | -1 | 0 | 0 | 0 | ' |
Capital expenditures | 74,188 | 82,046 | 234,794 | 208,171 | ' |
Total assets | 2,092,415 | 2,055,964 | 2,092,415 | 2,055,964 | ' |
Offshore Products [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 242,273 | 189,450 | 647,968 | 566,808 | ' |
Depreciation and amortization | 4,396 | 3,807 | 12,728 | 10,659 | ' |
Operating income (loss) | 40,951 | 28,026 | 110,416 | 97,116 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 73 | -103 | -758 | 150 | ' |
Capital expenditures | 8,335 | 9,846 | 25,957 | 30,809 | ' |
Total assets | 889,619 | 781,483 | 889,619 | 781,483 | ' |
Corporate And Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues from unaffiliated customers | 0 | 0 | 0 | 0 | ' |
Depreciation and amortization | 223 | 279 | 684 | 713 | ' |
Operating income (loss) | -15,941 | -11,172 | -44,877 | -33,200 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 0 | 0 | 0 | 0 | ' |
Capital expenditures | 388 | 98 | 1,036 | 1,299 | ' |
Total assets | $557,569 | $37,708 | $557,569 | $37,708 | ' |
Note_16_Condensed_Consolidated2
Note 16 - Condensed Consolidated Financial Information (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Corrected, Equity Contribution, Parent Guarantor to Guarantor Subsidiaries | $14 |
Corrected Equity Contributions, Guarantor Subsidiaries to Non-Guarantor Subsidiaries | $10 |
Note_16_Condensed_Consolidated3
Note 16 - Condensed Consolidated Financial Information (Details) - Condensed Consolidating Statements of Income and Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUES | ' | ' | ' | ' |
Operating revenues | $684,456 | $644,512 | $1,994,985 | $1,944,151 |
Intercompany revenues | 0 | 0 | 0 | 0 |
Total revenues | 684,456 | 644,512 | 1,994,985 | 1,944,151 |
OPERATING EXPENSES | ' | ' | ' | ' |
Cost of sales and services | 433,786 | 393,644 | 1,250,596 | 1,174,164 |
Intercompany cost of sales and services | 0 | 0 | 0 | 0 |
Selling, general and administrative expenses | 54,130 | 46,284 | 156,697 | 133,648 |
Depreciation and amortization expense | 70,217 | 58,871 | 204,545 | 162,610 |
Other operating (income)/expense | 4,346 | 1,566 | 3,485 | 1,703 |
Operating income (loss) | 121,977 | 144,147 | 379,662 | 472,026 |
Interest expense | -18,678 | -15,736 | -58,426 | -51,617 |
Interest income | 506 | 440 | 1,708 | 979 |
Loss on extinguishment of debt | -3,265 | 0 | -3,265 | 0 |
Equity in earnings (loss) of unconsolidated affiliates | 72 | -103 | -758 | 150 |
Other income (expense) | 3,854 | 2,243 | 5,603 | 7,781 |
Income before income taxes | 104,466 | 130,991 | 324,524 | 429,319 |
Income tax provision | -27,059 | -33,635 | -86,429 | -113,878 |
Net income from continuing operations | 77,407 | 97,356 | 238,095 | 315,441 |
Net income from discontinued operations, net of tax | 90,679 | 6,753 | 109,445 | 35,616 |
Net income | 168,086 | 104,109 | 347,540 | 351,057 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 44,693 | 43,564 | -125,407 | 40,527 |
Unrealized gain on forward contracts | -190 | -434 | -74 | -434 |
Total other comprehensive income | 44,503 | 43,130 | -125,481 | 40,093 |
Comprehensive income | 212,589 | 147,239 | 222,059 | 391,150 |
Comprehensive income attributable to noncontrolling interest | -380 | -357 | -1,045 | -996 |
Comprehensive income attributable to Oil States International, Inc. | 212,209 | 146,882 | 221,014 | 390,154 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' |
Operating revenues | 0 | 0 | 0 | ' |
Intercompany revenues | -12,715 | -12,648 | -41,735 | -28,645 |
Total revenues | -12,715 | -12,648 | -41,735 | -28,645 |
OPERATING EXPENSES | ' | ' | ' | ' |
Cost of sales and services | -2,431 | -1,932 | -6,146 | -5,884 |
Intercompany cost of sales and services | -9,882 | -10,379 | -33,900 | -22,037 |
Selling, general and administrative expenses | ' | 0 | ' | 0 |
Depreciation and amortization expense | -44 | -5 | -125 | -14 |
Other operating (income)/expense | ' | 0 | ' | 0 |
Operating income (loss) | -358 | -332 | -1,564 | -710 |
Interest expense | 12,807 | 16,992 | 42,233 | 51,299 |
Interest income | -12,807 | -16,992 | -42,233 | -51,299 |
Equity in earnings (loss) of unconsolidated affiliates | -106,968 | -186,445 | -437,857 | -604,688 |
Other income (expense) | ' | 0 | ' | 0 |
Income before income taxes | -107,326 | -186,777 | -439,421 | -605,398 |
Income tax provision | ' | 0 | ' | 0 |
Net income from continuing operations | -107,326 | -186,777 | -439,421 | -605,398 |
Net income | -107,326 | -186,777 | -439,421 | -605,398 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | -73,592 | -61,952 | 223,502 | -56,575 |
Unrealized gain on forward contracts | 0 | ' | 0 | ' |
Total other comprehensive income | -73,592 | -61,952 | 223,502 | -56,575 |
Comprehensive income | -180,918 | -248,729 | -215,919 | -661,973 |
Comprehensive income attributable to noncontrolling interest | 7 | -4 | -22 | -8 |
Comprehensive income attributable to Oil States International, Inc. | -180,911 | -248,733 | -215,941 | -661,981 |
Parent Company [Member] | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' |
Operating revenues | 0 | 0 | 0 | 0 |
Intercompany revenues | 0 | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 | 0 |
OPERATING EXPENSES | ' | ' | ' | ' |
Cost of sales and services | 0 | 0 | 0 | 0 |
Intercompany cost of sales and services | 0 | 0 | 0 | 0 |
Selling, general and administrative expenses | 487 | 461 | 1,271 | 1,287 |
Depreciation and amortization expense | 223 | 279 | 683 | 713 |
Other operating (income)/expense | -312 | -478 | -177 | -503 |
Operating income (loss) | -398 | -262 | -1,777 | -1,497 |
Interest expense | -17,866 | -14,143 | -54,214 | -47,782 |
Interest income | 4,724 | 5,166 | 14,315 | 15,271 |
Loss on extinguishment of debt | -3,265 | ' | -3,265 | ' |
Equity in earnings (loss) of unconsolidated affiliates | 51,231 | 113,030 | 258,081 | 382,702 |
Other income (expense) | ' | 0 | ' | 0 |
Income before income taxes | 34,426 | 103,791 | 213,140 | 348,694 |
Income tax provision | 44,345 | 0 | 44,345 | 1,396 |
Net income from continuing operations | 78,771 | 103,791 | 257,485 | 350,090 |
Net income from discontinued operations, net of tax | 88,969 | ' | 88,969 | ' |
Net income | 167,740 | 103,791 | 346,454 | 350,090 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 44,693 | 43,564 | -125,407 | 40,527 |
Unrealized gain on forward contracts | 0 | 0 | 0 | 0 |
Total other comprehensive income | 44,693 | 43,564 | -125,407 | 40,527 |
Comprehensive income | 212,433 | 147,355 | 221,047 | 390,617 |
Comprehensive income attributable to noncontrolling interest | 0 | 0 | ' | 0 |
Comprehensive income attributable to Oil States International, Inc. | 212,433 | 147,355 | 221,047 | 390,617 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' |
Operating revenues | 362,810 | 294,820 | 994,365 | 931,918 |
Intercompany revenues | 7,282 | 6,849 | 23,071 | 19,403 |
Total revenues | 370,092 | 301,669 | 1,017,436 | 951,321 |
OPERATING EXPENSES | ' | ' | ' | ' |
Cost of sales and services | 251,712 | 201,342 | 685,336 | 623,446 |
Intercompany cost of sales and services | 4,813 | 4,864 | 16,786 | 13,393 |
Selling, general and administrative expenses | 33,434 | 27,993 | 99,439 | 81,179 |
Depreciation and amortization expense | 29,397 | 23,109 | 83,551 | 66,132 |
Other operating (income)/expense | 2,845 | 828 | 3,031 | 182 |
Operating income (loss) | 47,891 | 43,533 | 129,293 | 166,989 |
Interest expense | -146 | -210 | -462 | -645 |
Interest income | 45 | 22 | 136 | 100 |
Equity in earnings (loss) of unconsolidated affiliates | 55,737 | 73,415 | 179,776 | 221,987 |
Other income (expense) | -204 | 333 | 812 | 5,426 |
Income before income taxes | 103,323 | 117,093 | 309,555 | 393,857 |
Income tax provision | -53,563 | -10,708 | -70,774 | -46,244 |
Net income from continuing operations | 49,760 | 106,385 | 238,781 | 347,613 |
Net income from discontinued operations, net of tax | 1,710 | 6,753 | 20,476 | 35,616 |
Net income | 51,470 | 113,138 | 259,257 | 383,229 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 36,635 | 30,976 | -109,868 | 28,282 |
Unrealized gain on forward contracts | -190 | -434 | -74 | -434 |
Total other comprehensive income | 36,445 | 30,542 | -109,942 | 27,848 |
Comprehensive income | 87,915 | 143,680 | 149,315 | 411,077 |
Comprehensive income attributable to noncontrolling interest | 0 | 0 | ' | 0 |
Comprehensive income attributable to Oil States International, Inc. | 87,915 | 143,680 | 149,315 | 411,077 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' |
Operating revenues | 321,646 | 349,692 | 1,000,620 | 1,012,233 |
Intercompany revenues | 5,433 | 5,799 | 18,664 | 9,242 |
Total revenues | 327,079 | 355,491 | 1,019,284 | 1,021,475 |
OPERATING EXPENSES | ' | ' | ' | ' |
Cost of sales and services | 184,505 | 194,234 | 571,406 | 556,602 |
Intercompany cost of sales and services | 5,069 | 5,515 | 17,114 | 8,644 |
Selling, general and administrative expenses | 20,209 | 17,830 | 55,987 | 51,182 |
Depreciation and amortization expense | 40,641 | 35,488 | 120,436 | 95,779 |
Other operating (income)/expense | 1,813 | 1,216 | 631 | 2,024 |
Operating income (loss) | 74,842 | 101,208 | 253,710 | 307,244 |
Interest expense | -13,473 | -18,375 | -45,983 | -54,489 |
Interest income | 8,544 | 12,244 | 29,490 | 36,907 |
Equity in earnings (loss) of unconsolidated affiliates | 72 | -103 | -758 | 149 |
Other income (expense) | 4,058 | 1,910 | 4,791 | 2,355 |
Income before income taxes | 74,043 | 96,884 | 241,250 | 292,166 |
Income tax provision | -17,841 | -22,927 | -60,000 | -69,030 |
Net income from continuing operations | 56,202 | 73,957 | 181,250 | 223,136 |
Net income from discontinued operations, net of tax | 0 | 0 | ' | 0 |
Net income | 56,202 | 73,957 | 181,250 | 223,136 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | 36,957 | 30,976 | -113,634 | 28,293 |
Unrealized gain on forward contracts | 0 | 0 | 0 | 0 |
Total other comprehensive income | 36,957 | 30,976 | -113,634 | 28,293 |
Comprehensive income | 93,159 | 104,933 | 67,616 | 251,429 |
Comprehensive income attributable to noncontrolling interest | -387 | -353 | -1,023 | -988 |
Comprehensive income attributable to Oil States International, Inc. | $92,772 | $104,580 | $66,593 | $250,441 |
Note_16_Condensed_Consolidated4
Note 16 - Condensed Consolidated Financial Information (Details) - Consolidating Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $775,979 | $253,172 | $163,551 | $71,721 |
Accounts receivable, net | 616,170 | 647,933 | ' | ' |
Inventories, net | 256,665 | 253,994 | ' | ' |
Current assets held for sale | 0 | 632,496 | ' | ' |
Prepaid expenses and other current assets | 34,228 | 38,497 | ' | ' |
Total current assets | 1,683,042 | 1,826,092 | ' | ' |
Property, plant and equipment, net | 1,914,088 | 1,827,242 | ' | ' |
Goodwill, net | 499,830 | 520,818 | ' | ' |
Other intangible assets, net | 127,605 | 146,103 | ' | ' |
Investments in unconsolidated affiliates | 2,443 | 3,000 | ' | ' |
Noncurrent assets held for sale | 0 | 31,605 | ' | ' |
Other noncurrent assets | 46,464 | 85,102 | ' | ' |
Total assets | 4,273,472 | 4,439,962 | 3,533,189 | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 144,555 | 167,642 | ' | ' |
Accrued liabilities | 115,911 | 103,800 | ' | ' |
Income taxes | 66,494 | 29,588 | ' | ' |
Current portion of long-term debt and capitalized leases | 492 | 30,480 | ' | ' |
Deferred revenue | 65,924 | 43,022 | ' | ' |
Current liabilities held for sale | 0 | 139,686 | ' | ' |
Other current liabilities | 10,168 | 4,314 | ' | ' |
Total current liabilities | 403,544 | 518,532 | ' | ' |
Long-term debt and capitalized leases | 1,006,844 | 1,279,805 | ' | ' |
Deferred income taxes | 128,343 | 123,958 | ' | ' |
Noncurrent liabilities held for sale | 0 | 5,277 | ' | ' |
Other noncurrent liabilities | 24,163 | 46,590 | ' | ' |
Total liabilities | 1,562,894 | 1,974,162 | ' | ' |
Stockholders’ equity | 2,709,019 | 2,464,405 | ' | ' |
Non-controlling interest | 1,559 | 1,395 | ' | ' |
Total stockholders’ equity | 2,710,578 | 2,465,800 | ' | ' |
Total liabilities and stockholders’ equity | 4,273,472 | 4,439,962 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 512,090 | 3,222 | 205 | -295 |
Accounts receivable, net | 993 | 431 | ' | ' |
Prepaid expenses and other current assets | 10,762 | 4,592 | ' | ' |
Total current assets | 523,845 | 8,245 | ' | ' |
Property, plant and equipment, net | 2,391 | 1,922 | ' | ' |
Investments in unconsolidated affiliates | 2,552,624 | 2,658,946 | ' | ' |
Long-term intercompany receivables (payables) | 559,278 | 855,354 | ' | ' |
Other noncurrent assets | 35,444 | 40,989 | ' | ' |
Total assets | 3,673,582 | 3,565,456 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 1,445 | 1,847 | ' | ' |
Accrued liabilities | 35,624 | 17,147 | ' | ' |
Income taxes | -93,494 | -95,930 | ' | ' |
Current portion of long-term debt and capitalized leases | 22 | 20,022 | ' | ' |
Total current liabilities | -56,403 | -56,914 | ' | ' |
Long-term debt and capitalized leases | 1,000,008 | 1,150,024 | ' | ' |
Deferred income taxes | 5,268 | -4,772 | ' | ' |
Other noncurrent liabilities | 15,690 | 12,713 | ' | ' |
Total liabilities | 964,563 | 1,101,051 | ' | ' |
Stockholders’ equity | 2,709,019 | 2,464,405 | ' | ' |
Total stockholders’ equity | 2,709,019 | 2,464,405 | ' | ' |
Total liabilities and stockholders’ equity | 3,673,582 | 3,565,456 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 18,435 | 57,205 | 1,821 | 1,736 |
Accounts receivable, net | 320,949 | 302,123 | ' | ' |
Inventories, net | 138,980 | 135,500 | ' | ' |
Current assets held for sale | ' | 632,496 | ' | ' |
Prepaid expenses and other current assets | 12,230 | 20,628 | ' | ' |
Total current assets | 490,594 | 1,147,952 | ' | ' |
Property, plant and equipment, net | 605,736 | 553,145 | ' | ' |
Goodwill, net | 222,236 | 221,610 | ' | ' |
Other intangible assets, net | 55,211 | 58,269 | ' | ' |
Investments in unconsolidated affiliates | 1,687,320 | 1,614,822 | ' | ' |
Long-term intercompany receivables (payables) | -164,173 | -495,655 | ' | ' |
Noncurrent assets held for sale | ' | 31,605 | ' | ' |
Other noncurrent assets | 980 | 25,977 | ' | ' |
Total assets | 2,897,904 | 3,157,725 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 66,805 | 68,558 | ' | ' |
Accrued liabilities | 46,264 | 49,388 | ' | ' |
Income taxes | 145,737 | 94,996 | ' | ' |
Current portion of long-term debt and capitalized leases | 438 | 314 | ' | ' |
Deferred revenue | 30,666 | 26,295 | ' | ' |
Current liabilities held for sale | ' | 139,686 | ' | ' |
Other current liabilities | 9,910 | 4,027 | ' | ' |
Total current liabilities | 299,820 | 383,264 | ' | ' |
Long-term debt and capitalized leases | 6,779 | 6,203 | ' | ' |
Deferred income taxes | 64,078 | 75,204 | ' | ' |
Noncurrent liabilities held for sale | ' | 5,277 | ' | ' |
Other noncurrent liabilities | 1,742 | 26,906 | ' | ' |
Total liabilities | 372,419 | 496,854 | ' | ' |
Stockholders’ equity | 2,525,485 | 2,660,871 | ' | ' |
Total stockholders’ equity | 2,525,485 | 2,660,871 | ' | ' |
Total liabilities and stockholders’ equity | 2,897,904 | 3,157,725 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 245,454 | 192,745 | 161,525 | 70,280 |
Accounts receivable, net | 294,228 | 345,379 | ' | ' |
Inventories, net | 117,685 | 118,494 | ' | ' |
Prepaid expenses and other current assets | 11,236 | 13,277 | ' | ' |
Total current assets | 668,603 | 669,895 | ' | ' |
Property, plant and equipment, net | 1,309,455 | 1,274,106 | ' | ' |
Goodwill, net | 277,594 | 299,208 | ' | ' |
Other intangible assets, net | 72,394 | 87,834 | ' | ' |
Investments in unconsolidated affiliates | 2,443 | 3,000 | ' | ' |
Long-term intercompany receivables (payables) | -395,107 | -359,697 | ' | ' |
Other noncurrent assets | 10,040 | 18,136 | ' | ' |
Total assets | 1,945,422 | 1,992,482 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 76,305 | 97,237 | ' | ' |
Accrued liabilities | 34,021 | 37,267 | ' | ' |
Income taxes | 14,251 | 30,522 | ' | ' |
Current portion of long-term debt and capitalized leases | 32 | 10,144 | ' | ' |
Deferred revenue | 35,258 | 16,727 | ' | ' |
Other current liabilities | 258 | 287 | ' | ' |
Total current liabilities | 160,125 | 192,184 | ' | ' |
Long-term debt and capitalized leases | 57 | 123,578 | ' | ' |
Deferred income taxes | 58,997 | 53,526 | ' | ' |
Other noncurrent liabilities | 7,180 | 7,420 | ' | ' |
Total liabilities | 226,359 | 376,708 | ' | ' |
Stockholders’ equity | 1,717,673 | 1,614,526 | ' | ' |
Non-controlling interest | 1,390 | 1,248 | ' | ' |
Total stockholders’ equity | 1,719,063 | 1,615,774 | ' | ' |
Total liabilities and stockholders’ equity | 1,945,422 | 1,992,482 | ' | ' |
Corporate And Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Property, plant and equipment, net | -3,494 | -1,931 | ' | ' |
Investments in unconsolidated affiliates | -4,239,944 | -4,273,768 | ' | ' |
Long-term intercompany receivables (payables) | 2 | -2 | ' | ' |
Total assets | -4,243,436 | -4,275,701 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accrued liabilities | 2 | -2 | ' | ' |
Total current liabilities | 2 | -2 | ' | ' |
Other noncurrent liabilities | -449 | -449 | ' | ' |
Total liabilities | -447 | -451 | ' | ' |
Stockholders’ equity | -4,243,158 | -4,275,397 | ' | ' |
Non-controlling interest | 169 | 147 | ' | ' |
Total stockholders’ equity | -4,242,989 | -4,275,250 | ' | ' |
Total liabilities and stockholders’ equity | ($4,243,436) | ($4,275,701) | ' | ' |
Note_16_Condensed_Consolidated5
Note 16 - Condensed Consolidated Financial Information (Details) - Condensed Consolidating Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | $582,677 | $445,534 |
Capital expenditures, including capitalized interest | -355,639 | -331,750 |
Acquisitions of businesses, net of cash acquired | -1,771 | -48,000 |
Proceeds from dispositions of property, plant and equipment | 8,535 | 9,609 |
Proceeds from sale of business | 600,000 | ' |
Payments for/from equity contributions from investing activities | 0 | -1,715 |
Other, net | 81 | 47 |
Net cash provided by (used in) investing activities | 251,206 | -371,809 |
Revolving credit borrowings (repayments), net | -47,901 | 201,837 |
Payment of principal on 2 3/8% Notes conversion``` | 0 | -174,990 |
Term loan repayments | -252,762 | -22,510 |
Debt and capital lease repayments | -2,180 | -2,453 |
Issuance of common stock from share-based payment arrangements | 14,172 | 13,108 |
Purchase of treasury stock | -11,889 | 0 |
Excess tax benefits from share-based payment arrangements | 5,447 | 7,739 |
Payment of financing costs | -203 | -3,264 |
Proceeds from (funding of) accounts and notes with affiliates, net | 0 | 0 |
Payments for/from equity contributions from financing activities | 0 | 0 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | -4,161 | -4,167 |
Other, net | -1 | 3 |
Net cash provided by (used in) financing activities | -299,478 | 15,303 |
Effect of exchange rate changes on cash | -11,598 | 2,802 |
Net change in cash and cash equivalents from continuing operations | 522,807 | 91,830 |
Cash and cash equivalents, beginning of period | 253,172 | 71,721 |
Cash and cash equivalents, end of period | 775,979 | 163,551 |
Consolidation, Eliminations [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | -1,688 | 0 |
Capital expenditures, including capitalized interest | 1,688 | 0 |
Acquisitions of businesses, net of cash acquired | 0 | 0 |
Proceeds from dispositions of property, plant and equipment | 0 | 0 |
Payments for/from equity contributions from investing activities | 59,164 | 24,018 |
Other, net | 0 | 0 |
Net cash provided by (used in) investing activities | 60,852 | 24,018 |
Revolving credit borrowings (repayments), net | 0 | 0 |
Payment of principal on 2 3/8% Notes conversion``` | ' | 0 |
Term loan repayments | 0 | 0 |
Debt and capital lease repayments | 0 | 0 |
Issuance of common stock from share-based payment arrangements | 0 | 0 |
Purchase of treasury stock | 0 | ' |
Excess tax benefits from share-based payment arrangements | 0 | 0 |
Payment of financing costs | ' | 0 |
Proceeds from (funding of) accounts and notes with affiliates, net | 0 | 0 |
Payments for/from equity contributions from financing activities | -59,164 | -24,018 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | 0 | 0 |
Other, net | 0 | 0 |
Net cash provided by (used in) financing activities | -59,164 | -24,018 |
Effect of exchange rate changes on cash | 0 | 0 |
Net change in cash and cash equivalents from continuing operations | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 |
Parent Company [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | -90,282 | -108,585 |
Capital expenditures, including capitalized interest | -1,036 | -1,299 |
Acquisitions of businesses, net of cash acquired | 0 | 0 |
Proceeds from dispositions of property, plant and equipment | 0 | 0 |
Proceeds from sale of business | 600,000 | ' |
Payments for/from equity contributions from investing activities | -56,646 | -14,012 |
Other, net | 1 | 0 |
Net cash provided by (used in) investing activities | 542,319 | -15,311 |
Revolving credit borrowings (repayments), net | 0 | 208,254 |
Payment of principal on 2 3/8% Notes conversion``` | ' | -174,990 |
Term loan repayments | -170,000 | -15,000 |
Debt and capital lease repayments | -17 | -15 |
Issuance of common stock from share-based payment arrangements | 14,172 | 13,108 |
Purchase of treasury stock | -11,889 | ' |
Excess tax benefits from share-based payment arrangements | 5,447 | 7,739 |
Payment of financing costs | -203 | -23 |
Proceeds from (funding of) accounts and notes with affiliates, net | 223,483 | 89,490 |
Payments for/from equity contributions from financing activities | 0 | 0 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | -4,161 | -4,167 |
Other, net | -1 | 0 |
Net cash provided by (used in) financing activities | 56,831 | 124,396 |
Effect of exchange rate changes on cash | 0 | 0 |
Net change in cash and cash equivalents from continuing operations | 508,868 | 500 |
Cash and cash equivalents, beginning of period | 3,222 | -295 |
Cash and cash equivalents, end of period | 512,090 | 205 |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | 324,496 | 258,575 |
Capital expenditures, including capitalized interest | -138,779 | -137,792 |
Acquisitions of businesses, net of cash acquired | -321 | -48,000 |
Proceeds from dispositions of property, plant and equipment | 1,735 | 5,944 |
Payments for/from equity contributions from investing activities | -2,518 | -10,006 |
Other, net | 80 | 49 |
Net cash provided by (used in) investing activities | -139,803 | -189,805 |
Revolving credit borrowings (repayments), net | 0 | 0 |
Payment of principal on 2 3/8% Notes conversion``` | ' | 0 |
Term loan repayments | 0 | 0 |
Debt and capital lease repayments | -274 | -2,314 |
Issuance of common stock from share-based payment arrangements | 0 | 0 |
Purchase of treasury stock | 0 | ' |
Excess tax benefits from share-based payment arrangements | 0 | 0 |
Payment of financing costs | ' | 0 |
Proceeds from (funding of) accounts and notes with affiliates, net | -245,689 | -80,384 |
Payments for/from equity contributions from financing activities | 22,569 | 14,012 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | 0 | 0 |
Other, net | 1 | 1 |
Net cash provided by (used in) financing activities | -223,393 | -68,685 |
Effect of exchange rate changes on cash | -70 | 0 |
Net change in cash and cash equivalents from continuing operations | -38,770 | 85 |
Cash and cash equivalents, beginning of period | 57,205 | 1,736 |
Cash and cash equivalents, end of period | 18,435 | 1,821 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | 350,151 | 295,544 |
Capital expenditures, including capitalized interest | -217,512 | -192,659 |
Acquisitions of businesses, net of cash acquired | -1,450 | 0 |
Proceeds from dispositions of property, plant and equipment | 6,800 | 3,665 |
Payments for/from equity contributions from investing activities | 0 | -1,715 |
Other, net | ' | -2 |
Net cash provided by (used in) investing activities | -212,162 | -190,711 |
Revolving credit borrowings (repayments), net | -47,901 | -6,417 |
Payment of principal on 2 3/8% Notes conversion``` | ' | 0 |
Term loan repayments | -82,762 | -7,510 |
Debt and capital lease repayments | -1,889 | -124 |
Issuance of common stock from share-based payment arrangements | 0 | 0 |
Purchase of treasury stock | 0 | ' |
Excess tax benefits from share-based payment arrangements | 0 | 0 |
Payment of financing costs | ' | -3,241 |
Proceeds from (funding of) accounts and notes with affiliates, net | 22,206 | -9,106 |
Payments for/from equity contributions from financing activities | 36,595 | 10,006 |
Shares added to treasury stock as a result of net share settlements due to vesting of restricted stock | 0 | 0 |
Other, net | -1 | 2 |
Net cash provided by (used in) financing activities | -73,752 | -16,390 |
Effect of exchange rate changes on cash | -11,528 | 2,802 |
Net change in cash and cash equivalents from continuing operations | 52,709 | 91,245 |
Cash and cash equivalents, beginning of period | 192,745 | 70,280 |
Cash and cash equivalents, end of period | $245,454 | $161,525 |