Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 04, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Global Geophysical Services Inc | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 38,117,059 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001311486 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
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 | $16,774 | $23,359 |
Restricted cash investments | 985 | 1,830 |
Accounts receivable, net | 40,162 | 51,766 |
Inventory | ' | 11,864 |
Income and other taxes receivable | 386 | 1,472 |
Prepaid expenses and other current assets | 9,323 | 21,480 |
TOTAL CURRENT ASSETS | 67,630 | 111,771 |
MULTI-CLIENT LIBRARY, net | 279,183 | 309,067 |
PROPERTY AND EQUIPMENT, net | 89,614 | 100,172 |
GOODWILL | 11,342 | 12,381 |
INTANGIBLE ASSETS, net | 10,859 | 13,083 |
OTHER ASSETS | 10,035 | 6,401 |
TOTAL ASSETS | 468,663 | 552,875 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued expenses | 43,779 | 42,597 |
Current portion of long-term debt | 10,252 | 22,970 |
Current portion of capital lease obligations | 3,990 | 5,639 |
Income and other taxes payable | 2,436 | 3,563 |
Deferred revenue | 10,364 | 22,498 |
Other payables | 1,465 | 3,059 |
TOTAL CURRENT LIABILITIES | 72,286 | 100,326 |
DEFERRED INCOME TAXES, net | 3,005 | 27,073 |
LONG-TERM DEBT, net of current portion and unamortized discount | 327,325 | 311,250 |
CAPITAL LEASE OBLIGATIONS, net of current portion | 2,849 | 4,176 |
NON-CONTROLLING INTERESTS | 856 | 997 |
OTHER LIABILITIES | 970 | 1,505 |
TOTAL LIABILITIES | 407,291 | 445,327 |
STOCKHOLDERS’ EQUITY | ' | ' |
Common stock, $0.01 par value, 100.0 million shares authorized, 48.3 million and 47.6 million shares issued and 38.1 million and 37.6 million shares outstanding at September 30, 2013 and December 31, 2012, respectively | 483 | 476 |
Additional paid-in capital | 258,761 | 253,415 |
Accumulated deficit | -101,342 | -49,815 |
157,902 | 204,076 | |
Less: treasury stock, at cost, 10.2 million and 10.0 million shares at September 30, 2013 and December 31, 2012, respectively | 96,530 | 96,528 |
TOTAL STOCKHOLDERS’ EQUITY | 61,372 | 107,548 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $468,663 | $552,875 |
Consolidated_Balance_Sheets_Cu1
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares issued | 48.3 | 47.6 |
Common stock, shares outstanding | 38.1 | 37.6 |
Less: treasury stock, at cost, shares | 10.2 | 10 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (Unaudited) (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 | ' | ' | ' | ' |
Proprietary Revenues | $41,407 | $30,173 | $95,617 | $153,585 |
Multi-client Data Library Pre-commitments | 14,481 | 48,476 | 56,861 | 90,852 |
Multi-client Data Library Late Sales | 14,145 | 11,565 | 64,316 | 39,259 |
TOTAL REVENUES | 70,033 | 90,214 | 216,794 | 283,696 |
OPERATING EXPENSES | ' | ' | ' | ' |
Operating Costs | 38,750 | 18,621 | 84,795 | 102,462 |
Multi-client Data Library Revenue Amortization | 20,089 | 35,519 | 76,392 | 79,107 |
Depreciation & Other Amortization | 9,233 | 5,727 | 24,921 | 18,953 |
TOTAL OPERATING EXPENSES | 68,072 | 59,867 | 186,108 | 200,522 |
MULTI-CLIENT DATA LIBRARY AND OTHER IMPAIRMENT | 4,116 | 1,893 | 19,820 | 6,433 |
MULTI-CLIENT DATA LIBRARY COMMISSIONS | 5,173 | ' | 11,106 | ' |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 11,460 | 9,410 | 39,028 | 34,390 |
GAIN ON DISPOSAL OF PROPERTY AND EQUIPMENT | -3,455 | -2,231 | -6,380 | -12,112 |
INCOME (LOSS) FROM OPERATIONS | -15,333 | 21,275 | -32,888 | 54,463 |
OTHER EXPENSE | ' | ' | ' | ' |
Interest expense, net | -8,884 | -8,295 | -25,683 | -23,344 |
Foreign exchange loss | -310 | -206 | -266 | -1,255 |
Other expense, net | -122 | -1,952 | -351 | -2,371 |
TOTAL OTHER EXPENSE | -9,316 | -10,453 | -26,300 | -26,970 |
INCOME (LOSS) BEFORE INCOME TAXES | -24,649 | 10,822 | -59,188 | 27,493 |
INCOME TAX EXPENSE (BENEFIT) | -548 | 4,864 | -7,519 | 12,319 |
INCOME (LOSS) AFTER INCOME TAXES | -24,101 | 5,958 | -51,669 | 15,174 |
NET INCOME (LOSS), attributable to non-controlling interests | 98 | 151 | -142 | -109 |
NET INCOME (LOSS), attributable to common shareholders | ($24,199) | $5,807 | ($51,527) | $15,283 |
INCOME (LOSS) PER COMMON SHARE | ' | ' | ' | ' |
Basic (in Dollars per share) | ($0.64) | $0.16 | ($1.36) | $0.41 |
Diluted (in Dollars per share) | ($0.64) | $0.16 | ($1.36) | $0.41 |
WEIGHTED AVERAGE SHARES OUTSTANDING | ' | ' | ' | ' |
Basic (in Shares) | 38,087 | 37,450 | 37,944 | 37,252 |
Diluted (in Shares) | 38,087 | 37,450 | 37,944 | 37,252 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income (loss), attributable to common shareholders | ($51,527,000) | $15,283,000 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Depreciation (net) and amortization expense | 104,249,000 | 100,782,000 |
Multi-client data library and other impairment | 19,820,000 | 6,433,000 |
Non-cash revenue from Multi-client data exchange | -138,000 | -5,246,000 |
Deferred tax expense (benefit) | -11,395,000 | 5,743,000 |
Gain on sale of assets | -6,380,000 | -12,112,000 |
Bad debt expense | 664,000 | 2,558,000 |
Stock-based compensation | 4,880,000 | 4,506,000 |
Other | 2,142,000 | 1,354,000 |
Effects of changes in operating assets and liabilities | ' | ' |
Accounts receivable, net | 10,941,000 | 7,271,000 |
Inventory | -1,639,000 | -11,229,000 |
Prepaid expenses and other current assets | -5,483,000 | -4,457,000 |
Accounts payable and accrued expenses | 1,181,000 | -5,487,000 |
Deferred revenue | -12,135,000 | -16,858,000 |
Other | -470,000 | 4,771,000 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 54,710,000 | 93,312,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Purchase of property and equipment | -6,611,000 | -22,133,000 |
Investment in Multi-client library | -61,589,000 | -129,166,000 |
Investment in unconsolidated affiliate | -250,000 | -500,000 |
Change in restricted cash investments | 845,000 | 3,321,000 |
Purchase of intangibles | -1,781,000 | -3,264,000 |
Proceeds from involuntary conversion of assets | 4,500,000 | ' |
Proceeds from sale of assets | 9,203,000 | 19,417,000 |
NET CASH USED IN INVESTING ACTIVITIES | -55,683,000 | -132,325,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Debt issuance costs | -5,026,000 | -1,804,000 |
Proceeds from sale and leaseback transaction | 1,940,000 | ' |
Principal payments on capital lease obligations | -5,380,000 | -5,659,000 |
Purchase of treasury stock | -2,000 | -2,000 |
Issuances of stock | 474,000 | 633,000 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | -5,612,000 | 41,057,000 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -6,585,000 | 2,044,000 |
CASH AND CASH EQUIVALENTS, beginning of period | 23,359,000 | 21,525,000 |
CASH AND CASH EQUIVALENTS, end of period | 16,774,000 | 23,569,000 |
Debt Long Term [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Net (payment) proceeds from long-term debt and revolving credit facility | 81,442,000 | 47,829,000 |
Credit Facility Revolving [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Net (payment) proceeds from long-term debt and revolving credit facility | ($79,060,000) | $60,000 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total |
In Thousands | |||||
Balances at Dec. 31, 2012 | $476 | $253,415 | ($96,528) | ($49,815) | $107,548 |
Issuance of common stock | 7 | 466 | ' | ' | 473 |
Compensation expense associated with stock grants | ' | 4,880 | ' | ' | 4,880 |
Purchase of treasury stock | ' | ' | -2 | ' | -2 |
Net loss | ' | ' | ' | -51,527 | -51,527 |
Balances at Sep. 30, 2013 | $483 | $258,761 | ($96,530) | ($101,342) | $61,372 |
Note_1_Basis_Of_Presentation
Note 1 - Basis Of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
NOTE 1 - BASIS OF PRESENTATION | |
The accompanying consolidated financial statements include the accounts of Global Geophysical Services, Inc. and its controlled subsidiaries (collectively, the “Company” unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation. | |
The Company provides an integrated suite of seismic data solutions to the global oil and gas industry. | |
The consolidated financial statements of the Company as of and for the three and nine months ended September 30, 2013 are unaudited and have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2012. In the opinion of management, the accompanying unaudited financial information includes all adjustments necessary for a fair presentation of the interim financial information. Operating results for the interim periods are not necessarily indicative of the results of any subsequent periods. Certain information in the footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) has been condensed or omitted for the interim periods presented under the United States Securities and Exchange Commission (“SEC”) rules and regulations. As such, these interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain amounts in the 2012 consolidated financial statements have been reclassified to conform to the classifications in the 2013 consolidated financial statements. | |
Note_2_Selected_Balance_Sheet_
Note 2 - Selected Balance Sheet Accounts | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | ||||||||
NOTE 2 - SELECTED BALANCE SHEET ACCOUNTS | |||||||||
Prepaid expenses and other current assets included the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Assets held for sale | $ | - | $ | 4,878 | |||||
Prepaid expenses | 2,199 | 1,181 | |||||||
Mobilization costs, net | 6,139 | 998 | |||||||
Note receivable, current portion | 985 | 1,750 | |||||||
Current deferred tax asset | - | 12,673 | |||||||
Total prepaid expenses and other current assets | $ | 9,323 | $ | 21,480 | |||||
As of December 31, 2012, other current assets included certain property and equipment which was identified as held for sale. The Company classifies assets as held for sale and ceases the depreciation and amortization of the assets when there is a plan for disposal of the assets and those assets meet the held for sale criteria as defined in FASB ASC 360 “Plant, Property and Equipment”. These assets were recorded at the lower of their carrying value or their fair value based on current market conditions. As of September 30, 2013, the Company has included the assets previously classified as held for sale in Property and Equipment to support the Company’s own asset requirements. | |||||||||
Accounts receivable, net included the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Accounts receivable, trade | $ | 17,191 | $ | 38,511 | |||||
Unbilled | 26,613 | 16,321 | |||||||
Allowance for doubtful accounts | (3,642 | ) | (3,066 | ) | |||||
Accounts receivable, net | $ | 40,162 | $ | 51,766 | |||||
Bad debt expense, net of recovery for the three months ended September 30, 2013 and 2012 was $(0.5) million and $(0.3) million, respectively, and $0.7 million and $2.6 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||
Other assets included the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Debt issuance costs, net | $ | 9,405 | $ | 5,689 | |||||
Investment in unconsolidated affiliate | 342 | 441 | |||||||
Other | 288 | 271 | |||||||
Total other assets | $ | 10,035 | $ | 6,401 | |||||
Note_3_Inventory
Note 3 - Inventory | 9 Months Ended |
Sep. 30, 2013 | |
Inventory Disclosure [Abstract] | ' |
Inventory Disclosure [Text Block] | ' |
NOTE 3 - INVENTORY | |
The Company identifies certain recording systems produced or held for sale as inventory. Inventory consists primarily of finished products. Inventory is stated at the lower of cost or net realizable value. Cost of inventory is determined by using the first-in, first-out method. The Company periodically reviews its inventory and makes provisions for damaged, missing or obsolete inventory. As of September 30, 2013, the Company has transferred all inventory to Property and Equipment to support the Company’s own asset requirements. | |
Note_4_MultiClient_Library
Note 4 - Multi-Client Library | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Multi Client Library [Abstract] | ' | |||||||||||||||||
Multi Client Library [Text Block] | ' | |||||||||||||||||
NOTE 4 - MULTI-CLIENT LIBRARY | ||||||||||||||||||
Multi-client library included the following (in thousands): | ||||||||||||||||||
September 30, | December 31, | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
(unaudited) | ||||||||||||||||||
Multi-client library, at cost | $ | 720,766 | $ | 655,477 | ||||||||||||||
Less: accumulated Multi-client library amortization | 441,583 | 346,410 | ||||||||||||||||
Multi-client library, net | $ | 279,183 | $ | 309,067 | ||||||||||||||
Multi-client library amortization expense included the following (in thousands): | ||||||||||||||||||
Three Month Period Ended | Nine Month Period Ended | |||||||||||||||||
September 30, | September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||
Multi-client data library revenue amortization (1) | $ | 20,089 | $ | 35,519 | $ | 76,392 | $ | 79,107 | ||||||||||
Backstop amortization (2) | 3,077 | 1,893 | 5,790 | 6,433 | ||||||||||||||
Impairment (2) | - | - | 12,991 | - | ||||||||||||||
$ | 23,166 | $ | 37,412 | $ | 95,173 | $ | 85,540 | |||||||||||
(1) Multi-client data library revenue amortization is included in Operating Expenses in the Consolidated Statements of Operations. | ||||||||||||||||||
(2) Backstop amortization and Impairment are included in Multi-client Data Library and Other Impairment in the Consolidated Statements of Operations. | ||||||||||||||||||
The Company entered into a License and Marketing Agreement dated as of March 28, 2013 (“the Agreement”) with SEI-GPI JV LLC, a limited liability company jointly owned by Seismic Exchange, Inc. and Geophysical Pursuit, Inc., (“SEI/GPI”). Under the terms of the Agreement, SEI/GPI, as licensee, provides exclusive marketing services for a substantial portion of the Company’s North American onshore data library. SEI/GPI paid $25.0 million non-refundable license fee upon execution of the Agreement. For the three and nine months ended September 30, 2013, the Company recorded late sale revenues of $0.7 million and $25.0 million, respectively, representing the portion of the license fee related to completed library assets. SEI/GPI receives, as compensation for marketing the data, a commission on all gross revenues resulting from the sub-licensing of the data subject to the Agreement. Revenues for sub-licenses issued by SEI/GPI as licensee are accounted for at gross, with the commission being recorded and classified as Multi-client Data Library Commissions expense in the Company’s Consolidated Statements of Operations. For the three and nine months ended September 30, 2013, the Company recorded commission expense of $5.2 million and $11.1 million, respectively. | ||||||||||||||||||
In connection with the Agreement, the Company evaluated certain Multi-client surveys for impairment. The impairment test compared the future cash flows from the surveys to their carrying value. If estimated future net cash flows exceeded the carrying value of the Multi-client asset, no impairment was required. If the carrying value exceeded estimated future net cash flows, the estimated future net cash flows were discounted to determine the survey’s estimated fair value. The variance between the discounted estimates of future net cash flows and the carrying value of respective Multi-client survey was recorded as impairment and the Multi-client survey’s carrying value was correspondingly reduced. For the three and nine months ended September 30, 2013, the Company recorded an impairment charge of zero and $13.0 million, respectively, classified in the Consolidated Statements of Operations as Multi-client Data Library and Other Impairment expense. | ||||||||||||||||||
For the three and nine months ended September 30, 2013, the Company recorded amortization expense of $0.5 million and $14.3 million, respectively, on late sale revenues, related to the $25.0 million non-refundable license fee. | ||||||||||||||||||
Note_5_Property_And_Equipment
Note 5 - Property And Equipment | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 5 - PROPERTY AND EQUIPMENT | |||||||||||||||||
Property and equipment, net included the following (in thousands): | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
(unaudited) | |||||||||||||||||
Machinery and equipment | $ | 299,017 | $ | 308,039 | |||||||||||||
Computers and software | 20,073 | 19,661 | |||||||||||||||
Buildings | 13,601 | 13,601 | |||||||||||||||
Boats | 7,634 | 7,634 | |||||||||||||||
Land | 2,157 | 2,157 | |||||||||||||||
Furniture and fixtures | 103 | 103 | |||||||||||||||
342,585 | 351,195 | ||||||||||||||||
Less: accumulated depreciation | 268,062 | 258,248 | |||||||||||||||
74,523 | 92,947 | ||||||||||||||||
Construction in process | 15,091 | 7,225 | |||||||||||||||
Property and equipment, net | $ | 89,614 | $ | 100,172 | |||||||||||||
In May 2013, a fire destroyed a warehouse in Colombia that contained Company equipment with a net book value of approximately $4.4 million. The equipment destroyed in the fire was insured. For the three and nine months ended September 30, 2013, the Company received payments of $2.4 million and $4.5 million, respectively, from its insurance carriers. | |||||||||||||||||
The following table provides an analysis of depreciation expense (in thousands): | |||||||||||||||||
Three Month Period Ended | Nine Month Period Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Gross depreciation expense | $ | 10,296 | $ | 9,078 | $ | 28,781 | $ | 28,662 | |||||||||
Less: capitalized depreciation for Multi-client library | 971 | 3,216 | 3,562 | 9,291 | |||||||||||||
Depreciation (net) | $ | 9,325 | $ | 5,862 | $ | 25,219 | $ | 19,371 | |||||||||
Note_6_Goodwill_And_Other_Inta
Note 6 - Goodwill And Other Intangibles | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||
NOTE 6 - GOODWILL AND OTHER INTANGIBLES | |||||||||
Goodwill and other intangibles included the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Customer list | $ | 3,984 | $ | 3,984 | |||||
Trademark | 1,759 | 1,759 | |||||||
Patents | 3,913 | 3,913 | |||||||
Non-compete agreements | 1,057 | 1,057 | |||||||
Intellectual property | 9,297 | 8,883 | |||||||
20,010 | 19,596 | ||||||||
Less: accumulated amortization | 9,151 | 6,513 | |||||||
Total intangible assets, net | 10,859 | 13,083 | |||||||
Goodwill | 11,342 | 12,381 | |||||||
Total goodwill and other intangibles, net | $ | 22,201 | $ | 25,464 | |||||
Intangible assets subject to amortization are amortized on a straight-line basis over their estimated useful lives, which are between two and fifteen years. Amortization expense for the three months ended September 30, 2013 and 2012 was $0.8 million and $0.8 million, respectively, and $2.4 million and $2.3 million for the nine months ended September 30, 2013 and 2012, respectively. For the three months ended September 30, 2013 and 2012, the Company capitalized $0.1 million and $0.3 million, respectively, of development costs related to internal use software as a component of intellectual property. For the nine months ended September 30, 2013 and 2012, the Company capitalized $0.4 million and $1.7 million, respectively, of development costs related to internal use software as a component of intellectual property. | |||||||||
At September 30, 2013, the Company was finalizing an agreement to divest its line-clearing business (see Note 17). As a result, the Company recorded an impairment charge for the amount of goodwill and intangible assets associated with the business totaling $1.0 million classified in the Consolidated Statement of Operations as Multi-client Data Library and Other Impairment and $0.2 million classified in the Consolidated Statement of Operations as Selling, General and Administrative Expenses, respectively. | |||||||||
Note_7_Income_Taxes
Note 7 - Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
NOTE 7 - INCOME TAXES | |
The Company provides for income taxes during interim periods based on an estimate of the effective tax rate for the year. Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period in which they occur. | |
The Company assesses the likelihood that deferred tax assets will be recovered from the existing deferred tax liabilities or future taxable income in each jurisdiction. To the extent the Company believes that recovery will not meet the more likely than not threshold, it establishes a valuation allowance. The Company has recorded valuation allowances in various jurisdictions, including the US, for its net deferred tax assets since management believes it is more likely than not that these assets will not be realized because the future taxable income necessary to utilize these losses cannot be established or projected or the Company no longer has activities in these jurisdictions. | |
The effective income tax rate for the three months ended September 30, 2013 and 2012 was 2.2% and 44.9%, respectively. The effective income tax rate for the nine months ended September 30, 2013 and 2012 was 12.7% and 44.8%, respectively. The Company’s effective income tax rate in 2013 and 2012 differs from the federal statutory rate primarily due to state income taxes, non-deductible expenses, foreign tax credit limitations, tax rate differential from non-US activities, and valuation allowances. | |
Note_8_Longterm_Debt
Note 8 - Long-term Debt | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Long-term Debt [Text Block] | ' | ||||||||
NOTE 8 - LONG-TERM DEBT | |||||||||
Long-term debt included the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Senior notes | $ | 250,000 | $ | 250,000 | |||||
Senior Secured Term Loan Facility | 82,800 | - | |||||||
Revolving credit facility | - | 79,060 | |||||||
Promissory notes | 9,408 | 11,204 | |||||||
Notes payable - insurance | 1,244 | 806 | |||||||
343,452 | 341,070 | ||||||||
Less: unamortized discount | 5,875 | 6,850 | |||||||
337,577 | 334,220 | ||||||||
Less: current portion | 10,252 | 22,970 | |||||||
Long-term debt, net of current portion and unamortized discount | $ | 327,325 | $ | 311,250 | |||||
Senior Notes: On April 27, 2010, the Company issued $200.0 million aggregate principal amount of its 10.5% senior notes due 2017 (the “Notes”) pursuant to exemptions from registration under the Securities Act of 1933. The Company’s net proceeds from the offering were approximately $188.1 million. | |||||||||
The Notes represent general unsecured, senior obligations of the Company and are unconditionally guaranteed as to principal, premium, if any, and interest by the Company’s domestic subsidiaries (the “Guarantors”) on a senior unsecured basis. | |||||||||
The Company used the proceeds from the offering and sale of the Notes to repay outstanding indebtedness and used the remaining proceeds for capital expenditures and for general corporate purposes. | |||||||||
The Notes were issued under an Indenture with The Bank of New York Mellon Trust Company, N.A., (the “Trustee”). | |||||||||
On March 28, 2012, the Company issued an additional $50.0 million aggregate principal amount of its 10.5% senior notes due 2017 pursuant to exemptions from registration under the Securities Act of 1933. The net proceeds to the Company from the issuance were approximately $47.0 million and were used to repay outstanding indebtedness under the Company’s existing Revolving Credit Facility. On September 28, 2012, the Company issued $50.0 million in aggregate principal amount of its 10.5% senior notes due 2017 that were registered under the Securities Act of 1933 (the “New Notes”) in exchange for an identical amount of the unregistered notes issued on March 28, 2012. | |||||||||
The New Notes represent general unsecured, senior obligations of the Company. The New Notes are unconditionally guaranteed as to principal, premium, if any, and interest by the Guarantors on a senior unsecured basis. | |||||||||
The Company used the proceeds from the offering and sale of the New Notes to repay outstanding indebtedness under its existing Revolving Credit Facility. | |||||||||
The New Notes are covered under the terms of an Indenture dated March 28, 2012. The Notes and the New Notes are hereinafter collectively referred to as the “Senior Notes”. The following is a brief summary of the material terms and conditions of the Senior Notes’ Indentures. | |||||||||
Interest — The Senior Notes bear interest at a rate of 10.5% per annum and interest is paid semi-annually, in arrears, on May 1 and November 1 of each year. | |||||||||
Principal and Maturity — The Senior Notes were issued with a $250.0 million aggregate principal amount and will mature on May 1, 2017. | |||||||||
Optional Redemption by the Company — On or after May 1, 2014, the Company may redeem the Senior Notes at the following percentages of the original principal amount: (i) 105.250% from May 1, 2014 to April 30, 2015; (ii) 102.625% from May 1, 2015 to April 30, 2016; and (iii) 100% from May 1, 2016 and thereafter. | |||||||||
Repurchase Obligations by the Company — Upon a change of control of the Company (as defined in the Indentures), each holder of the Senior Notes may require the Company to purchase their Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase. | |||||||||
Restrictive Covenants — The Indentures relating to the Senior Notes contain restrictive covenants that limit, among other things, certain restricted payments in respect of the Company’s equity interests and any subordinated debt, dividend restrictions affecting subsidiaries, incurrence of additional indebtedness and issuances of disqualified stock, certain asset sales and mergers with other entities, and certain liens (other than permitted liens). | |||||||||
Events of Default — The Indentures for the Senior Notes also contain events of default including, but not limited to, the following: (i) nonpayment; (ii) defaults in certain other indebtedness of the Company or the Guarantors; and (iii) the failure of the Company or the Guarantors to comply with their respective covenants in the event of a mandatory redemption, optional redemption, option to repurchase, or a merger, consolidation or sale of assets. Upon an event of default, the holders of the Senior Notes or the Trustee may declare the Senior Notes due and immediately payable. As of September 30, 2013, the Company was in compliance with all respective Indenture covenants. | |||||||||
Debt Issuance Costs: Costs related to the issuance of debt are capitalized and amortized as a component of interest expense using the effective interest method over the maturity period of the related debt. Accumulated amortization was $2.7 million and $2.0 million at September 30, 2013 and December 31, 2012, respectively. | |||||||||
Senior Secured Term Loan Facility: On September 30, 2013, the Company entered into a Financing Agreement with TPG Specialty Lending, Inc. (“ TPG ”), as administrative agent and collateral agent, co-lead arranger and a lender, Tennenbaum Capital Partners, LLC (“ TCP ”), as co-lead arranger and a lender, and certain affiliates of TPG and TCP, as lenders (the “ Financing Agreement ”). | |||||||||
The Financing Agreement provides for (i) a senior secured first lien term loan A in the amount of $82.8 million (“ Term Loan A ”) and (ii) a senior secured first lien delayed-draw term loan B in the amount of $22.2 million (“ Term Loan B ” and together with Term Loan A, the “ Facility ”). The Term Loan A was funded at closing, and the proceeds of the Term Loan A were used to pay in full indebtedness outstanding under the Company’s Revolving Credit Facility and to pay related fees and expenses. Subject to certain terms and conditions, the Term Loan B is available to be drawn after the closing date for potential future strategic acquisitions. | |||||||||
The Facility matures on September 30, 2016. It is guaranteed by all of the Company’s domestic subsidiaries and secured by substantially all of the Company’s assets and those of the guarantors. | |||||||||
Under the Financing Agreement, loans bear interest, at the Company’s option, at either LIBOR plus 9.75% (subject to a LIBOR floor of 1%) or the alternate base rate (the highest of the federal funds effective rate plus ½ of 1%, the Wall Street Journal prime rate and the three-month LIBOR rate plus 1%, subject to a floor of 4%) plus 8.75%. | |||||||||
The loans under the Financing Agreement are subject to mandatory prepayments in certain instances including, without limitation, (i) with net proceeds of certain asset dispositions, casualty or condemnation events, equity and debt issuances and extraordinary receipts and (ii) in an amount equal to 75% of Consolidated Excess Cash Flow (as defined in the Financing Agreement). | |||||||||
The Company is subject to certain financial covenants under the Financing Agreement that include the maintenance of the following financial covenants (in each case tested on a quarterly basis, based on the rolling four-quarter period that ends on the last day of each fiscal quarter and commencing as of the last day of the fiscal quarter ending December 31, 2013): (1) a Consolidated EBITDA (as defined in the Financing Agreement) to Consolidated Fixed Charges (as defined in the Financing Agreement) ratio of at least 1.00:1.00 initially and increasing to 1.25:1.00 over time, (2) a Consolidated Secured Leverage Ratio (as defined in the Financing Agreement) of not more than 1.75:1.00 initially and decreasing to 1.00:1.00 over time, and (3) for any fiscal quarter in which Consolidated EBITDA for the period of four fiscal quarters then ended does not exceed the aggregate principal amount of loans outstanding under the Facility at such time, a net book value of Multi-client data greater than the aggregate principal amount of loans outstanding under the Facility. In addition, the Company must maintain at all times Consolidated Liquidity (as defined in the Financing Agreement) of at least $10.0 million. | |||||||||
In addition, the Financing Agreement contains various covenants that, among other restrictions, limit the Company’s ability to | |||||||||
· create, issue, incur or assume indebtedness; | |||||||||
· create, incur or assume liens; engage in mergers or acquisitions; | |||||||||
· sell, transfer, assign or convey assets; | |||||||||
· repurchase the Company’s equity, make distributions to the Company’s equity holders and make certain other restricted payments; | |||||||||
· make investments; | |||||||||
· modify the terms of certain material agreements or prepay certain indebtedness; | |||||||||
· engage in transactions with affiliates; | |||||||||
· enter into certain burdensome agreements; | |||||||||
· enter into sale-leaseback arrangements; | |||||||||
· change the nature of the Company’s business; and | |||||||||
· make certain amendments to the Company’s organizational documents. | |||||||||
The Financing Agreement also contains customary events of default. If an event of default occurs and is continuing, the Required Lenders (as defined in the Financing Agreement) may accelerate the amounts due under the Financing Agreement (except with respect to a bankruptcy event of default, in which case such amounts will automatically become due and payable) and exercise other rights and remedies. In addition, if any event of default exists under the Financing Agreement, the lenders may commence foreclosure or other actions against the collateral. | |||||||||
At September 30, 2013, the Company had $82.8 million of borrowings outstanding under the Financing Agreement with a weighted average interest rate of 10.75%. | |||||||||
Bank of America Revolving Credit Facility: On April 30, 2010, the Company entered into a $50.0 million revolving credit facility maturing April 30, 2013 under the terms of a Credit Agreement (the “Revolving Credit Facility”) with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and each lender from time to time party thereto. On June 9, 2011, the Company amended the Revolving Credit Facility to provide for borrowings of up to $70.0 million under substantially similar terms. The loans under the Revolving Credit Facility bore interest at a rate equal to London Interbank Offered Rate (LIBOR) plus the Applicable Rate or the Base Rate plus the Applicable Rate. The Base Rate is defined as the higher of (x) the prime rate or (y) the Federal Funds rate plus 0.50%. The Applicable Rate is defined as a percentage determined in accordance with a pricing grid based upon the Company’s leverage ratio, that declines from LIBOR plus 4.00% or the prime rate plus 3.00% to a minimum rate equal to LIBOR plus 3.50% or the prime rate plus 2.50%. The Company may prepay borrowings under the Revolving Credit Facility at any time without penalty or premium, subject to reimbursement of the lenders’ breakage and redeployment costs in the case of prepayment of LIBOR borrowings. The Revolving Credit Facility also provided for a commitment fee of 0.75% per annum on the actual daily unused commitments. | |||||||||
On July 20, 2012, the Company further amended the Revolving Credit Facility (the “Third Amendment”), with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Credit Suisse AG, Cayman Islands Branch, as Syndication Agent and a Lender, Barclays Bank PLC, and Citibank, N.A (collectively, the “Lenders” and individually, a “Lender”). Under the Third Amendment, the maximum amount of permitted borrowings under the Revolving Credit Facility was increased to $85.0 million until the initial Maturity Date of April 30, 2013, at which point the maximum amount of permitted borrowings was reduced to $67.5 million and the Maturity Date of the Revolving Credit Facility was extended to April 30, 2014 (the “Extended Maturity Date”). Under the Third Amendment, the Company, as Borrower, had the right to request an increase in lending commitments by an additional $10.0 million subject to the requirements of the Revolving Credit Facility until the Extended Maturity Date. | |||||||||
On April 24, 2013, the Company entered into the fourth amendment (the “Fourth Amendment”) to the Company’s Revolving Credit Facility with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Barclays Bank PLC, and Citibank, N.A. The Company requested and certain of the Lenders agreed to assume a portion of certain expiring commitments and extend such Lenders’ respective Commitments and/or the expiration thereof on the terms and conditions set forth in the Amendment. Under the Fourth Amendment, the maximum amount of permitted borrowings under the Revolving Credit Facility was reduced to $80.0 million until September 30, 2013, at which point the maximum amount of permitted borrowings was further reduced to $67.5 million through April 30, 2014. | |||||||||
As of September 30, 2013, the Company paid off all borrowings under the Revolving Credit Facility with the Senior Secured Term Loan Facility. | |||||||||
Promissory Notes: From time to time, the Company issues short term promissory notes to various foreign financial institutions to finance equipment purchases and working capital needs for foreign operations. The balance outstanding under these promissory notes as of September 30, 2013 and December 31, 2012 was $8.8 million and $10.4 million, respectively, at weighted average interest rates of 7.6% and 9.1%, respectively. | |||||||||
In January 2011, the Company issued a non-interest bearing promissory note related to the acquisition of STRM LLC. The balance outstanding under the promissory note as of September 30, 2013 and December 31, 2012 was $0.6 million and $0.8 million, respectively. | |||||||||
Notes Payable - Insurance: In exchange for insurance services provided, the Company from time to time issues negotiable promissory notes. The balance outstanding under these promissory notes as of September 30, 2013 and December 31, 2012 was $1.2 million and $0.8 million, respectively, at weighted average interest rates of 3.4% and 3.4%, respectively. | |||||||||
Letter of Credit Facility: In February 2007, the Company entered into a $10.0 million revolving line of credit that was secured by restricted cash. The terms of the letter of credit facility as only allow for letters of credit to be drawn on the available credit; however, the cash balance in excess of the total outstanding letters of credit may be withdrawn by the Company at any time. As of September 30, 2013 and December 31, 2012, the letters of credit outstanding were $1.0 million and $1.8 million, respectively. | |||||||||
Note_9_Capital_Lease
Note 9 - Capital Lease | 9 Months Ended |
Sep. 30, 2013 | |
Leases [Abstract] | ' |
Sale Leaseback Transaction Disclosure [Text Block] | ' |
NOTE 9 – CAPITAL LEASES | |
From time to time, the Company enters into leases and sale and leaseback transactions to acquire certain seismic equipment, computer equipment and vehicles that are accounted for as capital leases. The balance outstanding under these capital leases as of September 30, 2013 and December 31, 2012 was $6.8 million and $9.8 million, respectively, at weighted average interest rates of 5.7% and 5.3%, respectively. | |
Note_10_Fair_Value_Of_Financia
Note 10 - Fair Value Of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
NOTE 10 – FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||
The Company follows ASU 2011-04 “Fair Value Measurement” as it relates to financial assets and financial liabilities, which defines fair value, establishes a framework for measuring fair value under GAAP and expands disclosures about fair value measurements. The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements. | |||||||||||||||||
This guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Hierarchical levels, as defined in this guidance and directly related to the amount of subjectivity associated with the inputs to fair valuations of these assets and liabilities are as follows: | |||||||||||||||||
Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | |||||||||||||||||
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||||||
Level 3 – Inputs that are both significant to the fair value measurement and unobservable. | |||||||||||||||||
The reported fair values for financial instruments that use Level 2 and Level 3 inputs to determine fair value are based on a variety of factors and assumptions. Accordingly, certain fair values may not represent actual values of the financial instruments that could have been realized as of September 30, 2013 or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement. | |||||||||||||||||
In the normal course of operations, the Company is exposed to market risks arising from adverse changes in interest rates. Market risk is defined for these purposes as the potential for change in the fair value of debt instruments resulting from an adverse movement in interest rates. | |||||||||||||||||
The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and current debt approximate their fair value due to the short maturity of those instruments, and therefore, have been excluded from the table below. The fair value of the Notes is determined by multiplying the principal amount by their market price. The following table sets forth the level 1 fair value of the Company’s financial assets and liabilities as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
(unaudited) | |||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
$200.0 million senior notes | $ | 196,399 | $ | 170,000 | $ | 195,801 | $ | 178,000 | |||||||||
$50.0 million senior notes | $ | 47,726 | $ | 42,500 | $ | 47,349 | $ | 44,500 | |||||||||
The Company is not a party to any hedge arrangements, commodity swap agreements or other derivative financial instruments. | |||||||||||||||||
The Company utilizes foreign subsidiaries and branches to conduct operations outside of the United States. These operations expose the Company to market risks from changes in foreign exchange rates and other financial controls. | |||||||||||||||||
Note_11_Stockbased_Compensatio
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] | ' | ||||||||||||||||
NOTE 11 - STOCK-BASED COMPENSATION | |||||||||||||||||
The Company follows ASC 718 “Compensation – Stock Compensation” for share-based payments which requires all stock-based payments, including stock options, to be recognized as an operating expense over the vesting period, based on their grant date fair values. | |||||||||||||||||
In July 2006, the Company’s board of directors and stockholders adopted the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan (the “2006 Incentive Plan”). The 2006 Incentive Plan provides for a variety of incentive awards, including nonstatutory stock options, incentive stock options within the meaning of Section 422 of the Internal Revenue Code, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based awards, and other stock-based awards. A total of 9,203,058 shares of common stock are reserved for issuance under the 2006 Incentive Plan. | |||||||||||||||||
Stock Options: The Company estimates the fair value of each stock option on the date of grant using the Black-Scholes-Merton valuation model. The volatility is based on expected volatility over the expected life of eighty-four months. As the Company has not historically declared dividends, the dividend yield used in the calculation is zero. Actual value realized, if any, is dependent on the future performance of the Company’s common stock and overall stock market conditions. There can be no assurance the value realized by an optionee will be at or near the value estimated by the Black-Scholes-Merton model. | |||||||||||||||||
The following assumptions were used for the nine month period ended September 30, 2013: | |||||||||||||||||
Nine Month Period Ended | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Risk-free interest rate | 1.19 | % | |||||||||||||||
Expected lives (in years) | 7 | ||||||||||||||||
Expected dividend yield | 0 | % | |||||||||||||||
Expected volatility | 78.76 | % | |||||||||||||||
The computation of expected volatility during the nine months ended September 30, 2013 was based on historical volatility. Historical volatility was calculated from historical data for the time approximately equal to the expected term of the option award starting from the grant date. The risk-free interest rate assumption is based upon the U.S. Treasury yield curve in effect at the time of grant for the period corresponding with the expected life of the option. | |||||||||||||||||
Option activity for the nine months ended September 30, 2013 is summarized as follows: | |||||||||||||||||
Number of | Weighted | Weighted | Weighted | ||||||||||||||
Optioned | Average | Average | Average | ||||||||||||||
Shares | Exercise | Remaining | Optioned | ||||||||||||||
Price | Contractual | Grant Date | |||||||||||||||
Term in Years | Fair Value | ||||||||||||||||
Balance as of December 31, 2012 | 1,893,200 | $ | 22.87 | $ | 5.3 | ||||||||||||
Expired | - | - | - | ||||||||||||||
Granted | 1,000,000 | 3.51 | 3.51 | ||||||||||||||
Exercised | - | - | - | ||||||||||||||
Forfeited | (504,800 | ) | 20.9 | 4.91 | |||||||||||||
Balance at September 30, 2013 | 2,388,400 | $ | 15.11 | 4.85 | $ | 4.6 | |||||||||||
Exercisable as of September 30, 2013 | 1,328,375 | $ | 22.55 | 4.83 | $ | 5.12 | |||||||||||
Through September 30, 2013, a total of 5,830,400 options have been granted and 3,442,000 have been forfeited. | |||||||||||||||||
Compensation expense associated with stock options for the three months ended September 30, 2013 and 2012 was $0.4 million and $0.3 million, respectively, and $1.2 million and $1.0 million for the nine months ended September 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative Expenses in the Consolidated Statements of Operations. At September 30, 2013 and 2012, the Company had 1,060,025 and 377,025 of non-vested stock option awards, respectively. The total cost of non-vested stock option awards that the Company had not yet recognized at September 30, 2013 and 2012 was $2.6 million and $1.8 million, respectively. Such amount at September 30, 2013 is expected to be recognized approximately over a period of four years. | |||||||||||||||||
Restricted Stock: To encourage retention and performance, the Company granted certain employees and consultants restricted shares of common stock with a fair value per share determined by multiplying the stock price on the date of the award by the number of shares awarded. Restricted stock activity for the nine months ended September 30, 2013 is summarized as follows: | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
Nonvested | Average | ||||||||||||||||
Restricted | Grant Date | ||||||||||||||||
Share Awards | Fair Value | ||||||||||||||||
Balance as of December 31, 2012 | 976,976 | $ | 6.72 | ||||||||||||||
Granted | 508,647 | 3.43 | |||||||||||||||
Vested | (229,277 | ) | 11.07 | ||||||||||||||
Forfeited | (222,119 | ) | 9.54 | ||||||||||||||
Balance at September 30, 2013 | 1,034,227 | $ | 3.53 | ||||||||||||||
Compensation expense associated with restricted stock for the three months ended September 30, 2013 and 2012 was $1.1 million and $1.2 million, respectively, and $3.7 million and $3.5 million for the nine months ended September 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative Expenses in the Consolidated Statements of Operations. The total cost of non-vested stock awards that the Company has not yet recognized at September 30, 2013 and 2012 was approximately $4.1 million and $6.8 million, respectively. This amount is expected to be recognized over the next three years. | |||||||||||||||||
Performance Units Awards: During the three months ended September 30, 2013, the Company granted 1,114,950 performance unit awards, each of which contains a market condition, to executive and other key employees of the Company. The performance units granted may settle between zero and two shares of the Company’s common stock. The number of shares issued pursuant to the performance unit awards will be determined based on a number of factors, including total shareholder return of the Company’s common stock as compared to a group of peer companies measured over a three-year performance period. The expense related to the performance units for the three and nine months ended September 30, 2013 was immaterial to the consolidated financial statements. | |||||||||||||||||
Employee Stock Purchase Plan: The Company maintains an Employee Stock Purchase Plan (“ESPP”), under which employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase the Company's common stock. The purchase price of the stock is 85% of the lower of the stock price at the beginning or end of the plan period at three-month intervals. The expense related to the ESPP for the three and nine months ended September 30, 2013 and 2012 was immaterial to the consolidated financial statements. | |||||||||||||||||
Note_12_Earnings_Loss_Per_Shar
Note 12 - Earnings (Loss) Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 12 – EARNINGS (LOSS) PER SHARE | |||||||||||||||||
The Company follows ASC 260 “Earnings Per Share” for share-based payments which are considered as participating securities. All share-based payment awards that contained non-forfeitable rights to dividends, whether paid or unpaid, were designated as participating securities and included in the computation of earnings per share (“EPS”). | |||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): | |||||||||||||||||
Three Month Period Ended | Nine Month Period Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Net income (loss), attributable to common shareholders | $ | (24,199 | ) | $ | 5,807 | $ | (51,527 | ) | $ | 15,283 | |||||||
Basic weighted average shares outstanding | 38,087 | 37,450 | 37,944 | 37,252 | |||||||||||||
Diluted | |||||||||||||||||
Shares issuable from the assumed conversion of stock options | - | - | - | - | |||||||||||||
Total | 38,087 | 37,450 | 37,944 | 37,252 | |||||||||||||
Basic income (loss) per share | $ | (0.64 | ) | $ | 0.16 | $ | (1.36 | ) | $ | 0.41 | |||||||
Diluted income (loss) per share | $ | (0.64 | ) | $ | 0.16 | $ | (1.36 | ) | $ | 0.41 | |||||||
As of September 30, 2013 and 2012, 2,388,400 and 2,020,800 out-of-the-money stock options have been excluded from diluted earnings per share because they are considered anti-dilutive. | |||||||||||||||||
Note_13_Supplemental_Cash_Flow
Note 13 - Supplemental Cash Flow Information | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | ||||||||
NOTE 13 - SUPPLEMENTAL CASH FLOW INFORMATION | |||||||||
The following provides supplemental cash flow information (in thousands): | |||||||||
Nine Month Period Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Interest paid | $ | 17,051 | $ | 15,079 | |||||
Income taxes paid | $ | 3,860 | $ | 5,514 | |||||
The following provides supplemental disclosure of non-cash investing and financing activities (in thousands): | |||||||||
Nine Month Period Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Property and equipment additions transferred from inventory | $ | 13,503 | $ | - | |||||
Property and equipment additions transferred from held-for-sale | $ | 4,292 | $ | - | |||||
Property and equipment additions financed through capital leases | $ | 405 | $ | 1,819 | |||||
Non-cash Multi-client data swap asset recorded as deferred revenue | $ | - | $ | 146 | |||||
Original issue discount on notes payable | $ | - | $ | 3,000 | |||||
Non-cash property and equipment additions associated with swap of property and equipment | $ | - | $ | 7,500 | |||||
Non-cash property and equipment additions associated with data swap | $ | - | $ | 1,751 | |||||
Purchase price not paid at close of acquisition | $ | - | $ | 2,993 | |||||
Note_14_Segment_Information
Note 14 - Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 14 – SEGMENT INFORMATION | |||||||||||||||||
In accordance with the way management views the business, the Company has two reportable segments: Proprietary Services and Multi-client Services. | |||||||||||||||||
The following table sets forth significant information concerning the Company’s reportable segments as of and for the three and nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||
As of and for the Three Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 41,407 | $ | 28,626 | $ | - | $ | 70,033 | |||||||||
Segment loss before taxes | $ | (10,933 | ) | $ | (13,602 | ) | $ | (114 | ) | $ | (24,649 | ) | |||||
Segment assets | $ | 32,600 | $ | 293,766 | $ | 142,297 | $ | 468,663 | |||||||||
As of and for the Three Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 30,173 | $ | 60,041 | $ | - | $ | 90,214 | |||||||||
Segment income (loss) before taxes | $ | 299 | $ | 15,596 | $ | (5,073 | ) | $ | 10,822 | ||||||||
Segment assets | $ | 41,659 | $ | 331,873 | $ | 182,865 | $ | 556,397 | |||||||||
As of and for the Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 95,617 | $ | 121,177 | $ | - | $ | 216,794 | |||||||||
Segment loss before taxes | $ | (28,585 | ) | $ | (9,379 | ) | $ | (21,224 | ) | $ | (59,188 | ) | |||||
Segment assets | $ | 32,600 | $ | 293,766 | $ | 142,297 | $ | 468,663 | |||||||||
As of and for the Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 153,585 | $ | 130,111 | $ | - | $ | 283,696 | |||||||||
Segment income (loss) before taxes | $ | 12,252 | $ | 27,912 | $ | (12,671 | ) | $ | 27,493 | ||||||||
Segment assets | $ | 41,659 | $ | 331,873 | $ | 182,865 | $ | 556,397 | |||||||||
Note_15_Recently_Issued_Accoun
Note 15 - Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2013 | |
Table Text Block [Abstract] | ' |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | ' |
NOTE 15 – RECENTLY ISSUED ACCOUNTING STANDARDS | |
In July 2013, the FASB issued ASU No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This ASU is intended to provide guidance and reduce diversity in practice in the presentation of an unrecognized tax benefit when a tax loss or credit carryforward exists. The guidance requires that any unrecognized tax benefit or portion of an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward except for certain defined situations. The provisions of this ASU are effective for periods beginning after December 15, 2013 and must be applied prospectively for unrecognized tax benefits that exist at the effective date. Early adoption is permitted. The Company does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
Note_16_Guarantees_Of_Register
Note 16 - Guarantees Of Registered Securities | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||
Guarantees [Text Block] | ' | ||||||||||||||||
NOTE 16 – GUARANTEES OF REGISTERED SECURITIES | |||||||||||||||||
The Senior Notes are fully and unconditionally guaranteed, on a joint and several basis, by all U.S. subsidiaries of the Company. The non-guarantor subsidiaries are comprised of all subsidiaries organized outside of the United States. | |||||||||||||||||
Separate condensed consolidating financial statement information for the guarantor subsidiaries and non-guarantor subsidiaries as of September 30, 2013 and December 31, 2012 and for the three and nine months ended September 30, 2013 and 2012 is as follows (in thousands): | |||||||||||||||||
As of September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
BALANCE SHEET | |||||||||||||||||
ASSETS | |||||||||||||||||
Current assets | $ | 113,508 | $ | 5,461 | $ | (51,339 | ) | $ | 67,630 | ||||||||
Multi-client library, net | 277,841 | 1,342 | - | 279,183 | |||||||||||||
Property and equipment, net | 88,079 | 1,535 | - | 89,614 | |||||||||||||
Investment in subsidiaries | 1 | - | (1 | ) | - | ||||||||||||
Intercompany accounts | 26,238 | (26,238 | ) | - | - | ||||||||||||
Other non-current assets | 32,080 | 156 | - | 32,236 | |||||||||||||
TOTAL ASSETS | $ | 537,747 | $ | (17,744 | ) | $ | (51,340 | ) | $ | 468,663 | |||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
Current liabilities | $ | 82,314 | $ | 41,311 | $ | (51,339 | ) | $ | 72,286 | ||||||||
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 330,174 | - | - | 330,174 | |||||||||||||
Deferred income tax and other non-current liabilities | 4,831 | - | - | 4,831 | |||||||||||||
TOTAL LIABILITIES | 417,319 | 41,311 | (51,339 | ) | 407,291 | ||||||||||||
Stockholders' equity | 120,428 | (59,055 | ) | (1 | ) | 61,372 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 537,747 | $ | (17,744 | ) | $ | (51,340 | ) | $ | 468,663 | |||||||
As of December 31, 2012 | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
BALANCE SHEET | |||||||||||||||||
ASSETS | |||||||||||||||||
Current assets | $ | 150,864 | $ | 21,761 | $ | (60,854 | ) | $ | 111,771 | ||||||||
Multi-client library, net | 309,031 | 36 | - | 309,067 | |||||||||||||
Property and equipment, net | 97,129 | 3,043 | - | 100,172 | |||||||||||||
Investment in subsidiaries | 1 | - | (1 | ) | - | ||||||||||||
Intercompany accounts | 20,589 | (20,589 | ) | - | - | ||||||||||||
Other non-current assets | 31,728 | 137 | - | 31,865 | |||||||||||||
TOTAL ASSETS | $ | 609,342 | $ | 4,388 | $ | (60,855 | ) | $ | 552,875 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
Current liabilities | $ | 102,568 | $ | 58,612 | $ | (60,854 | ) | $ | 100,326 | ||||||||
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 315,426 | - | - | 315,426 | |||||||||||||
Deferred income tax and other non-current liabilities | 29,575 | - | - | 29,575 | |||||||||||||
TOTAL LIABILITIES | 447,569 | 58,612 | (60,854 | ) | 445,327 | ||||||||||||
Stockholders' equity | 161,773 | (54,224 | ) | (1 | ) | 107,548 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 609,342 | $ | 4,388 | $ | (60,855 | ) | $ | 552,875 | ||||||||
Three Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 56,562 | $ | 15,567 | $ | (2,096 | ) | $ | 70,033 | ||||||||
Operating expenses | 58,243 | 11,644 | (1,815 | ) | 68,072 | ||||||||||||
Multi-client data library and other impairment | 4,116 | - | - | 4,116 | |||||||||||||
Multi-client data library commissions | 5,173 | - | - | 5,173 | |||||||||||||
Selling, general and administrative expenses | 8,702 | 3,039 | (281 | ) | 11,460 | ||||||||||||
Gain on disposal of property and equipment | (3,455 | ) | - | - | (3,455 | ) | |||||||||||
Income (loss) from operations | (16,217 | ) | 884 | - | (15,333 | ) | |||||||||||
Interest expense, net | (8,883 | ) | (1 | ) | - | (8,884 | ) | ||||||||||
Other expense, net | (297 | ) | (135 | ) | - | (432 | ) | ||||||||||
Income (loss) before income taxes | (25,397 | ) | 748 | - | (24,649 | ) | |||||||||||
Income tax expense (benefit) | (696 | ) | 148 | - | (548 | ) | |||||||||||
Income (loss) after income taxes | (24,701 | ) | 600 | - | (24,101 | ) | |||||||||||
Net income, attributable to noncontrolling interests | 98 | - | - | 98 | |||||||||||||
Net income (loss), attributable to common shareholders | $ | (24,799 | ) | $ | 600 | $ | - | $ | (24,199 | ) | |||||||
Three Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 65,883 | $ | 26,385 | $ | (2,054 | ) | $ | 90,214 | ||||||||
Operating expenses | 40,536 | 21,122 | (1,791 | ) | 59,867 | ||||||||||||
Multi-client data library and other impairment | 1,893 | - | - | 1,893 | |||||||||||||
Multi-client data library commissions | - | - | - | - | |||||||||||||
Selling, general and administrative expenses | 5,983 | 3,690 | (263 | ) | 9,410 | ||||||||||||
Gain on disposal of property and equipment | (2,231 | ) | - | - | (2,231 | ) | |||||||||||
Income from operations | 19,702 | 1,573 | - | 21,275 | |||||||||||||
Interest income (expense), net | (8,302 | ) | 7 | - | (8,295 | ) | |||||||||||
Other income (expense), net | (2,174 | ) | 16 | - | (2,158 | ) | |||||||||||
Income before income taxes | 9,226 | 1,596 | - | 10,822 | |||||||||||||
Income tax expense | 3,225 | 1,639 | - | 4,864 | |||||||||||||
Income (loss) after income taxes | 6,001 | (43 | ) | - | 5,958 | ||||||||||||
Net income, attributable to noncontrolling interests | 151 | - | - | 151 | |||||||||||||
Net income (loss), attributable to common shareholders | $ | 5,850 | $ | (43 | ) | $ | - | $ | 5,807 | ||||||||
Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 182,885 | $ | 39,032 | $ | (5,123 | ) | $ | 216,794 | ||||||||
Operating expenses | 157,416 | 33,188 | (4,496 | ) | 186,108 | ||||||||||||
Multi-client data library and other impairment | 19,820 | - | - | 19,820 | |||||||||||||
Multi-client data library commissions | 11,106 | - | - | 11,106 | |||||||||||||
Selling, general and administrative expenses | 30,897 | 8,758 | (627 | ) | 39,028 | ||||||||||||
Gain on disposal of property and equipment | (6,380 | ) | - | - | (6,380 | ) | |||||||||||
Income from operations | (29,974 | ) | (2,914 | ) | - | (32,888 | ) | ||||||||||
Interest expense, net | (25,531 | ) | (152 | ) | - | (25,683 | ) | ||||||||||
Other expense, net | (226 | ) | (391 | ) | - | (617 | ) | ||||||||||
Loss before income taxes | (55,731 | ) | (3,457 | ) | - | (59,188 | ) | ||||||||||
Income tax expense (benefit) | (8,893 | ) | 1,374 | - | (7,519 | ) | |||||||||||
Loss after income taxes | (46,838 | ) | (4,831 | ) | - | (51,669 | ) | ||||||||||
Net loss, attributable to noncontrolling interests | (142 | ) | - | - | (142 | ) | |||||||||||
Net loss, attributable to common shareholders | $ | (46,696 | ) | $ | (4,831 | ) | $ | - | $ | (51,527 | ) | ||||||
Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 186,672 | $ | 105,177 | $ | (8,153 | ) | $ | 283,696 | ||||||||
Operating expenses | 115,603 | 92,119 | (7,200 | ) | 200,522 | ||||||||||||
Multi-client data library and other impairment | 6,433 | - | - | 6,433 | |||||||||||||
Multi-client data library commissions | - | - | - | - | |||||||||||||
Selling, general and administrative expenses | 18,791 | 16,552 | (953 | ) | 34,390 | ||||||||||||
Gain on disposal of property and equipment | (11,922 | ) | (190 | ) | - | (12,112 | ) | ||||||||||
Income (loss) from operations | 57,767 | (3,304 | ) | - | 54,463 | ||||||||||||
Interest income (expense), net | (23,354 | ) | 10 | - | (23,344 | ) | |||||||||||
Other expense, net | (1,783 | ) | (1,843 | ) | - | (3,626 | ) | ||||||||||
Income (loss) before income taxes | 32,630 | (5,137 | ) | - | 27,493 | ||||||||||||
Income tax expense | 8,545 | 3,774 | - | 12,319 | |||||||||||||
Income (loss) after income taxes | 24,085 | (8,911 | ) | - | 15,174 | ||||||||||||
Net loss, attributable to noncontrolling interests | (109 | ) | - | - | (109 | ) | |||||||||||
Net income (loss), attributable to common shareholders | $ | 24,194 | $ | (8,911 | ) | $ | - | $ | 15,283 | ||||||||
Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF CASH FLOWS | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | 59,182 | $ | (4,472 | ) | $ | - | $ | 54,710 | ||||||||
Net cash used in investing activities | (53,624 | ) | (2,059 | ) | - | (55,683 | ) | ||||||||||
Net cash provided by (used in) financing activities | (6,218 | ) | 606 | - | (5,612 | ) | |||||||||||
Net decrease in cash and cash equivalents | $ | (660 | ) | $ | (5,925 | ) | $ | - | $ | (6,585 | ) | ||||||
Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF CASH FLOWS | |||||||||||||||||
Net cash provided by operating activities | $ | 91,320 | $ | 1,992 | $ | - | $ | 93,312 | |||||||||
Net cash used in investing activities | (127,916 | ) | (4,409 | ) | - | (132,325 | ) | ||||||||||
Net cash provided by (used in) financing activities | 42,958 | (1,901 | ) | - | 41,057 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | $ | 6,362 | $ | (4,318 | ) | $ | - | $ | 2,044 | ||||||||
Note_17_Subsequent_Events
Note 17 - Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 17 - SUBSEQUENT EVENTS | |
The Company evaluates events and transactions that occur after the balance sheet date but before the consolidated financial statements are issued. The Company evaluated such events and transactions through the date the consolidated financial statements were filed electronically with the Securities and Exchange Commission. | |
In conjunction with the Company’s decision to exit the line clearing business in the quarter ended September 30, 2013, the Company agreed to purchase the 20% minority equity interest in Paisano Lease Company, Inc. (Paisano) for $0.9 million and sell the line clearing assets of Paisano to a new entity controlled by these minority shareholders at the net book value of the equipment. The transaction closed on October 17, 2013. No gain or loss was recorded on the sale of the equipment and subsequent to the purchase of the outstanding 20% minority interest. Paisano became a wholly-owned subsidiary of the Company. In connection with the decision to exit the business and sell the underlying assets of this line clearing business, the outstanding goodwill and other intangibles were determined to be impaired by $1.0 million and $0.2 which has been reflected as a component of Multi-client Data Library and Other Impairment and Selling, General and Administrative Expenses, respectively, in the Company’s Consolidated Statements of Operations for the three and nine month periods ended September 30, 2013. | |
Note_2_Selected_Balance_Sheet_1
Note 2 - Selected Balance Sheet Accounts (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Assets held for sale | $ | - | $ | 4,878 | |||||
Prepaid expenses | 2,199 | 1,181 | |||||||
Mobilization costs, net | 6,139 | 998 | |||||||
Note receivable, current portion | 985 | 1,750 | |||||||
Current deferred tax asset | - | 12,673 | |||||||
Total prepaid expenses and other current assets | $ | 9,323 | $ | 21,480 | |||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Accounts receivable, trade | $ | 17,191 | $ | 38,511 | |||||
Unbilled | 26,613 | 16,321 | |||||||
Allowance for doubtful accounts | (3,642 | ) | (3,066 | ) | |||||
Accounts receivable, net | $ | 40,162 | $ | 51,766 | |||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Debt issuance costs, net | $ | 9,405 | $ | 5,689 | |||||
Investment in unconsolidated affiliate | 342 | 441 | |||||||
Other | 288 | 271 | |||||||
Total other assets | $ | 10,035 | $ | 6,401 |
Note_4_MultiClient_Library_Tab
Note 4 - Multi-Client Library (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Multi Client Library [Abstract] | ' | ||||||||||||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
(unaudited) | |||||||||||||||||
Multi-client library, at cost | $ | 720,766 | $ | 655,477 | |||||||||||||
Less: accumulated Multi-client library amortization | 441,583 | 346,410 | |||||||||||||||
Multi-client library, net | $ | 279,183 | $ | 309,067 | |||||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | ||||||||||||||||
Three Month Period Ended | Nine Month Period Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Multi-client data library revenue amortization (1) | $ | 20,089 | $ | 35,519 | $ | 76,392 | $ | 79,107 | |||||||||
Backstop amortization (2) | 3,077 | 1,893 | 5,790 | 6,433 | |||||||||||||
Impairment (2) | - | - | 12,991 | - | |||||||||||||
$ | 23,166 | $ | 37,412 | $ | 95,173 | $ | 85,540 |
Note_5_Property_And_Equipment_
Note 5 - Property And Equipment (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
(unaudited) | |||||||||||||||||
Machinery and equipment | $ | 299,017 | $ | 308,039 | |||||||||||||
Computers and software | 20,073 | 19,661 | |||||||||||||||
Buildings | 13,601 | 13,601 | |||||||||||||||
Boats | 7,634 | 7,634 | |||||||||||||||
Land | 2,157 | 2,157 | |||||||||||||||
Furniture and fixtures | 103 | 103 | |||||||||||||||
342,585 | 351,195 | ||||||||||||||||
Less: accumulated depreciation | 268,062 | 258,248 | |||||||||||||||
74,523 | 92,947 | ||||||||||||||||
Construction in process | 15,091 | 7,225 | |||||||||||||||
Property and equipment, net | $ | 89,614 | $ | 100,172 | |||||||||||||
Schedule Of Depreciation [Table Text Block] | ' | ||||||||||||||||
Three Month Period Ended | Nine Month Period Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Gross depreciation expense | $ | 10,296 | $ | 9,078 | $ | 28,781 | $ | 28,662 | |||||||||
Less: capitalized depreciation for Multi-client library | 971 | 3,216 | 3,562 | 9,291 | |||||||||||||
Depreciation (net) | $ | 9,325 | $ | 5,862 | $ | 25,219 | $ | 19,371 |
Note_6_Goodwill_And_Other_Inta1
Note 6 - Goodwill And Other Intangibles (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Customer list | $ | 3,984 | $ | 3,984 | |||||
Trademark | 1,759 | 1,759 | |||||||
Patents | 3,913 | 3,913 | |||||||
Non-compete agreements | 1,057 | 1,057 | |||||||
Intellectual property | 9,297 | 8,883 | |||||||
20,010 | 19,596 | ||||||||
Less: accumulated amortization | 9,151 | 6,513 | |||||||
Total intangible assets, net | 10,859 | 13,083 | |||||||
Goodwill | 11,342 | 12,381 | |||||||
Total goodwill and other intangibles, net | $ | 22,201 | $ | 25,464 |
Note_8_Longterm_Debt_Tables
Note 8 - Long-term Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Senior notes | $ | 250,000 | $ | 250,000 | |||||
Senior Secured Term Loan Facility | 82,800 | - | |||||||
Revolving credit facility | - | 79,060 | |||||||
Promissory notes | 9,408 | 11,204 | |||||||
Notes payable - insurance | 1,244 | 806 | |||||||
343,452 | 341,070 | ||||||||
Less: unamortized discount | 5,875 | 6,850 | |||||||
337,577 | 334,220 | ||||||||
Less: current portion | 10,252 | 22,970 | |||||||
Long-term debt, net of current portion and unamortized discount | $ | 327,325 | $ | 311,250 |
Note_10_Fair_Value_Of_Financia1
Note 10 - Fair Value Of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
(unaudited) | |||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
$200.0 million senior notes | $ | 196,399 | $ | 170,000 | $ | 195,801 | $ | 178,000 | |||||||||
$50.0 million senior notes | $ | 47,726 | $ | 42,500 | $ | 47,349 | $ | 44,500 |
Note_11_Stockbased_Compensatio1
Note 11 - Stock-based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||
Nine Month Period Ended | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Risk-free interest rate | 1.19 | % | |||||||||||||||
Expected lives (in years) | 7 | ||||||||||||||||
Expected dividend yield | 0 | % | |||||||||||||||
Expected volatility | 78.76 | % | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Number of | Weighted | Weighted | Weighted | ||||||||||||||
Optioned | Average | Average | Average | ||||||||||||||
Shares | Exercise | Remaining | Optioned | ||||||||||||||
Price | Contractual | Grant Date | |||||||||||||||
Term in Years | Fair Value | ||||||||||||||||
Balance as of December 31, 2012 | 1,893,200 | $ | 22.87 | $ | 5.3 | ||||||||||||
Expired | - | - | - | ||||||||||||||
Granted | 1,000,000 | 3.51 | 3.51 | ||||||||||||||
Exercised | - | - | - | ||||||||||||||
Forfeited | (504,800 | ) | 20.9 | 4.91 | |||||||||||||
Balance at September 30, 2013 | 2,388,400 | $ | 15.11 | 4.85 | $ | 4.6 | |||||||||||
Exercisable as of September 30, 2013 | 1,328,375 | $ | 22.55 | 4.83 | $ | 5.12 | |||||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||
Number of | Weighted | ||||||||||||||||
Nonvested | Average | ||||||||||||||||
Restricted | Grant Date | ||||||||||||||||
Share Awards | Fair Value | ||||||||||||||||
Balance as of December 31, 2012 | 976,976 | $ | 6.72 | ||||||||||||||
Granted | 508,647 | 3.43 | |||||||||||||||
Vested | (229,277 | ) | 11.07 | ||||||||||||||
Forfeited | (222,119 | ) | 9.54 | ||||||||||||||
Balance at September 30, 2013 | 1,034,227 | $ | 3.53 |
Note_12_Earnings_Loss_Per_Shar1
Note 12 - Earnings (Loss) 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 Month Period Ended | Nine Month Period Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
Net income (loss), attributable to common shareholders | $ | (24,199 | ) | $ | 5,807 | $ | (51,527 | ) | $ | 15,283 | |||||||
Basic weighted average shares outstanding | 38,087 | 37,450 | 37,944 | 37,252 | |||||||||||||
Diluted | |||||||||||||||||
Shares issuable from the assumed conversion of stock options | - | - | - | - | |||||||||||||
Total | 38,087 | 37,450 | 37,944 | 37,252 | |||||||||||||
Basic income (loss) per share | $ | (0.64 | ) | $ | 0.16 | $ | (1.36 | ) | $ | 0.41 | |||||||
Diluted income (loss) per share | $ | (0.64 | ) | $ | 0.16 | $ | (1.36 | ) | $ | 0.41 |
Note_13_Supplemental_Cash_Flow1
Note 13 - Supplemental Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Supplemental Cash Flow Information [Member] | ' | ||||||||
Note 13 - Supplemental Cash Flow Information (Tables) [Line Items] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||
Nine Month Period Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Interest paid | $ | 17,051 | $ | 15,079 | |||||
Income taxes paid | $ | 3,860 | $ | 5,514 | |||||
Non-Cash Investing And Financing Activities [Member] | ' | ||||||||
Note 13 - Supplemental Cash Flow Information (Tables) [Line Items] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||
Nine Month Period Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
(unaudited) | |||||||||
Property and equipment additions transferred from inventory | $ | 13,503 | $ | - | |||||
Property and equipment additions transferred from held-for-sale | $ | 4,292 | $ | - | |||||
Property and equipment additions financed through capital leases | $ | 405 | $ | 1,819 | |||||
Non-cash Multi-client data swap asset recorded as deferred revenue | $ | - | $ | 146 | |||||
Original issue discount on notes payable | $ | - | $ | 3,000 | |||||
Non-cash property and equipment additions associated with swap of property and equipment | $ | - | $ | 7,500 | |||||
Non-cash property and equipment additions associated with data swap | $ | - | $ | 1,751 | |||||
Purchase price not paid at close of acquisition | $ | - | $ | 2,993 |
Note_14_Segment_Information_Ta
Note 14 - Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
As of and for the Three Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 41,407 | $ | 28,626 | $ | - | $ | 70,033 | |||||||||
Segment loss before taxes | $ | (10,933 | ) | $ | (13,602 | ) | $ | (114 | ) | $ | (24,649 | ) | |||||
Segment assets | $ | 32,600 | $ | 293,766 | $ | 142,297 | $ | 468,663 | |||||||||
As of and for the Three Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 30,173 | $ | 60,041 | $ | - | $ | 90,214 | |||||||||
Segment income (loss) before taxes | $ | 299 | $ | 15,596 | $ | (5,073 | ) | $ | 10,822 | ||||||||
Segment assets | $ | 41,659 | $ | 331,873 | $ | 182,865 | $ | 556,397 | |||||||||
As of and for the Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 95,617 | $ | 121,177 | $ | - | $ | 216,794 | |||||||||
Segment loss before taxes | $ | (28,585 | ) | $ | (9,379 | ) | $ | (21,224 | ) | $ | (59,188 | ) | |||||
Segment assets | $ | 32,600 | $ | 293,766 | $ | 142,297 | $ | 468,663 | |||||||||
As of and for the Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Proprietary | Multi-client | Corporate | Total | ||||||||||||||
Services | Services | ||||||||||||||||
Revenues | $ | 153,585 | $ | 130,111 | $ | - | $ | 283,696 | |||||||||
Segment income (loss) before taxes | $ | 12,252 | $ | 27,912 | $ | (12,671 | ) | $ | 27,493 | ||||||||
Segment assets | $ | 41,659 | $ | 331,873 | $ | 182,865 | $ | 556,397 |
Note_16_Guarantees_Of_Register1
Note 16 - Guarantees Of Registered Securities (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||||||
As of September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
BALANCE SHEET | |||||||||||||||||
ASSETS | |||||||||||||||||
Current assets | $ | 113,508 | $ | 5,461 | $ | (51,339 | ) | $ | 67,630 | ||||||||
Multi-client library, net | 277,841 | 1,342 | - | 279,183 | |||||||||||||
Property and equipment, net | 88,079 | 1,535 | - | 89,614 | |||||||||||||
Investment in subsidiaries | 1 | - | (1 | ) | - | ||||||||||||
Intercompany accounts | 26,238 | (26,238 | ) | - | - | ||||||||||||
Other non-current assets | 32,080 | 156 | - | 32,236 | |||||||||||||
TOTAL ASSETS | $ | 537,747 | $ | (17,744 | ) | $ | (51,340 | ) | $ | 468,663 | |||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
Current liabilities | $ | 82,314 | $ | 41,311 | $ | (51,339 | ) | $ | 72,286 | ||||||||
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 330,174 | - | - | 330,174 | |||||||||||||
Deferred income tax and other non-current liabilities | 4,831 | - | - | 4,831 | |||||||||||||
TOTAL LIABILITIES | 417,319 | 41,311 | (51,339 | ) | 407,291 | ||||||||||||
Stockholders' equity | 120,428 | (59,055 | ) | (1 | ) | 61,372 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 537,747 | $ | (17,744 | ) | $ | (51,340 | ) | $ | 468,663 | |||||||
As of December 31, 2012 | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
BALANCE SHEET | |||||||||||||||||
ASSETS | |||||||||||||||||
Current assets | $ | 150,864 | $ | 21,761 | $ | (60,854 | ) | $ | 111,771 | ||||||||
Multi-client library, net | 309,031 | 36 | - | 309,067 | |||||||||||||
Property and equipment, net | 97,129 | 3,043 | - | 100,172 | |||||||||||||
Investment in subsidiaries | 1 | - | (1 | ) | - | ||||||||||||
Intercompany accounts | 20,589 | (20,589 | ) | - | - | ||||||||||||
Other non-current assets | 31,728 | 137 | - | 31,865 | |||||||||||||
TOTAL ASSETS | $ | 609,342 | $ | 4,388 | $ | (60,855 | ) | $ | 552,875 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
Current liabilities | $ | 102,568 | $ | 58,612 | $ | (60,854 | ) | $ | 100,326 | ||||||||
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 315,426 | - | - | 315,426 | |||||||||||||
Deferred income tax and other non-current liabilities | 29,575 | - | - | 29,575 | |||||||||||||
TOTAL LIABILITIES | 447,569 | 58,612 | (60,854 | ) | 445,327 | ||||||||||||
Stockholders' equity | 161,773 | (54,224 | ) | (1 | ) | 107,548 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 609,342 | $ | 4,388 | $ | (60,855 | ) | $ | 552,875 | ||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||||||
Three Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 56,562 | $ | 15,567 | $ | (2,096 | ) | $ | 70,033 | ||||||||
Operating expenses | 58,243 | 11,644 | (1,815 | ) | 68,072 | ||||||||||||
Multi-client data library and other impairment | 4,116 | - | - | 4,116 | |||||||||||||
Multi-client data library commissions | 5,173 | - | - | 5,173 | |||||||||||||
Selling, general and administrative expenses | 8,702 | 3,039 | (281 | ) | 11,460 | ||||||||||||
Gain on disposal of property and equipment | (3,455 | ) | - | - | (3,455 | ) | |||||||||||
Income (loss) from operations | (16,217 | ) | 884 | - | (15,333 | ) | |||||||||||
Interest expense, net | (8,883 | ) | (1 | ) | - | (8,884 | ) | ||||||||||
Other expense, net | (297 | ) | (135 | ) | - | (432 | ) | ||||||||||
Income (loss) before income taxes | (25,397 | ) | 748 | - | (24,649 | ) | |||||||||||
Income tax expense (benefit) | (696 | ) | 148 | - | (548 | ) | |||||||||||
Income (loss) after income taxes | (24,701 | ) | 600 | - | (24,101 | ) | |||||||||||
Net income, attributable to noncontrolling interests | 98 | - | - | 98 | |||||||||||||
Net income (loss), attributable to common shareholders | $ | (24,799 | ) | $ | 600 | $ | - | $ | (24,199 | ) | |||||||
Three Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 65,883 | $ | 26,385 | $ | (2,054 | ) | $ | 90,214 | ||||||||
Operating expenses | 40,536 | 21,122 | (1,791 | ) | 59,867 | ||||||||||||
Multi-client data library and other impairment | 1,893 | - | - | 1,893 | |||||||||||||
Multi-client data library commissions | - | - | - | - | |||||||||||||
Selling, general and administrative expenses | 5,983 | 3,690 | (263 | ) | 9,410 | ||||||||||||
Gain on disposal of property and equipment | (2,231 | ) | - | - | (2,231 | ) | |||||||||||
Income from operations | 19,702 | 1,573 | - | 21,275 | |||||||||||||
Interest income (expense), net | (8,302 | ) | 7 | - | (8,295 | ) | |||||||||||
Other income (expense), net | (2,174 | ) | 16 | - | (2,158 | ) | |||||||||||
Income before income taxes | 9,226 | 1,596 | - | 10,822 | |||||||||||||
Income tax expense | 3,225 | 1,639 | - | 4,864 | |||||||||||||
Income (loss) after income taxes | 6,001 | (43 | ) | - | 5,958 | ||||||||||||
Net income, attributable to noncontrolling interests | 151 | - | - | 151 | |||||||||||||
Net income (loss), attributable to common shareholders | $ | 5,850 | $ | (43 | ) | $ | - | $ | 5,807 | ||||||||
Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 182,885 | $ | 39,032 | $ | (5,123 | ) | $ | 216,794 | ||||||||
Operating expenses | 157,416 | 33,188 | (4,496 | ) | 186,108 | ||||||||||||
Multi-client data library and other impairment | 19,820 | - | - | 19,820 | |||||||||||||
Multi-client data library commissions | 11,106 | - | - | 11,106 | |||||||||||||
Selling, general and administrative expenses | 30,897 | 8,758 | (627 | ) | 39,028 | ||||||||||||
Gain on disposal of property and equipment | (6,380 | ) | - | - | (6,380 | ) | |||||||||||
Income from operations | (29,974 | ) | (2,914 | ) | - | (32,888 | ) | ||||||||||
Interest expense, net | (25,531 | ) | (152 | ) | - | (25,683 | ) | ||||||||||
Other expense, net | (226 | ) | (391 | ) | - | (617 | ) | ||||||||||
Loss before income taxes | (55,731 | ) | (3,457 | ) | - | (59,188 | ) | ||||||||||
Income tax expense (benefit) | (8,893 | ) | 1,374 | - | (7,519 | ) | |||||||||||
Loss after income taxes | (46,838 | ) | (4,831 | ) | - | (51,669 | ) | ||||||||||
Net loss, attributable to noncontrolling interests | (142 | ) | - | - | (142 | ) | |||||||||||
Net loss, attributable to common shareholders | $ | (46,696 | ) | $ | (4,831 | ) | $ | - | $ | (51,527 | ) | ||||||
Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF OPERATIONS | |||||||||||||||||
Revenues | $ | 186,672 | $ | 105,177 | $ | (8,153 | ) | $ | 283,696 | ||||||||
Operating expenses | 115,603 | 92,119 | (7,200 | ) | 200,522 | ||||||||||||
Multi-client data library and other impairment | 6,433 | - | - | 6,433 | |||||||||||||
Multi-client data library commissions | - | - | - | - | |||||||||||||
Selling, general and administrative expenses | 18,791 | 16,552 | (953 | ) | 34,390 | ||||||||||||
Gain on disposal of property and equipment | (11,922 | ) | (190 | ) | - | (12,112 | ) | ||||||||||
Income (loss) from operations | 57,767 | (3,304 | ) | - | 54,463 | ||||||||||||
Interest income (expense), net | (23,354 | ) | 10 | - | (23,344 | ) | |||||||||||
Other expense, net | (1,783 | ) | (1,843 | ) | - | (3,626 | ) | ||||||||||
Income (loss) before income taxes | 32,630 | (5,137 | ) | - | 27,493 | ||||||||||||
Income tax expense | 8,545 | 3,774 | - | 12,319 | |||||||||||||
Income (loss) after income taxes | 24,085 | (8,911 | ) | - | 15,174 | ||||||||||||
Net loss, attributable to noncontrolling interests | (109 | ) | - | - | (109 | ) | |||||||||||
Net income (loss), attributable to common shareholders | $ | 24,194 | $ | (8,911 | ) | $ | - | $ | 15,283 | ||||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||||||
Nine Month Period Ended September 30, 2013 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF CASH FLOWS | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | 59,182 | $ | (4,472 | ) | $ | - | $ | 54,710 | ||||||||
Net cash used in investing activities | (53,624 | ) | (2,059 | ) | - | (55,683 | ) | ||||||||||
Net cash provided by (used in) financing activities | (6,218 | ) | 606 | - | (5,612 | ) | |||||||||||
Net decrease in cash and cash equivalents | $ | (660 | ) | $ | (5,925 | ) | $ | - | $ | (6,585 | ) | ||||||
Nine Month Period Ended September 30, 2012 (Unaudited) | |||||||||||||||||
Guarantors | Non-guarantors | Eliminations | Consolidated | ||||||||||||||
STATEMENTS OF CASH FLOWS | |||||||||||||||||
Net cash provided by operating activities | $ | 91,320 | $ | 1,992 | $ | - | $ | 93,312 | |||||||||
Net cash used in investing activities | (127,916 | ) | (4,409 | ) | - | (132,325 | ) | ||||||||||
Net cash provided by (used in) financing activities | 42,958 | (1,901 | ) | - | 41,057 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | $ | 6,362 | $ | (4,318 | ) | $ | - | $ | 2,044 |
Note_1_Basis_Of_Presentation_D
Note 1 - Basis Of Presentation (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Entity Registrant Name | 'Global Geophysical Services Inc |
Note_2_Selected_Balance_Sheet_2
Note 2 - Selected Balance Sheet Accounts (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 |
Disclosure Text Block Supplement [Abstract] | ' | ' | ' | ' |
Provision for Doubtful Accounts | ($500) | ($300) | $664 | $2,558 |
Note_2_Selected_Balance_Sheet_3
Note 2 - Selected Balance Sheet Accounts (Details) - Prepaid Expenses and Other Current Assets (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Prepaid Expenses and Other Current Assets (current period unaudited) [Abstract] | ' | ' |
Assets held for sale | ' | $4,878 |
Prepaid expenses | 2,199 | 1,181 |
Mobilization costs, net | 6,139 | 998 |
Note receivable, current portion | 985 | 1,750 |
Current deferred tax asset | ' | 12,673 |
Total prepaid expenses and other current assets | $9,323 | $21,480 |
Note_2_Selected_Balance_Sheet_4
Note 2 - Selected Balance Sheet Accounts (Details) - Accounts Receivable, Net (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Receivable, Net (current period unaudited) [Abstract] | ' | ' |
Accounts receivable, trade | $17,191 | $38,511 |
Unbilled | 26,613 | 16,321 |
Allowance for doubtful accounts | -3,642 | -3,066 |
Accounts receivable, net | $40,162 | $51,766 |
Note_2_Selected_Balance_Sheet_5
Note 2 - Selected Balance Sheet Accounts (Details) - Other Assets (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Assets (current period unaudited) [Abstract] | ' | ' |
Debt issuance costs, net | $9,405 | $5,689 |
Investment in unconsolidated affiliate | 342 | 441 |
Other | 288 | 271 |
Total other assets | $10,035 | $6,401 |
Note_4_MultiClient_Library_Det
Note 4 - Multi-Client Library (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Note 4 - Multi-Client Library (Details) [Line Items] | ' | ' | ' | ' | ||||
Sales Commissions and Fees | $5,200,000 | ' | $11,100,000 | ' | ||||
Multi Client Library Amortization | 23,166,000 | 37,412,000 | 95,173,000 | 85,540,000 | ||||
Late Sale Revenues [Member] | SEI and GPI [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) [Line Items] | ' | ' | ' | ' | ||||
Multi Client Library Revenue | ' | ' | 25,000,000 | ' | ||||
Multi Client Library Amortization | 500,000 | ' | 14,300,000 | ' | ||||
Multi-Client Library [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) [Line Items] | ' | ' | ' | ' | ||||
Multi Client Library Impairment | 0 | [1] | ' | [1] | 12,991,000 | [1] | ' | [1] |
SEI and GPI [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) [Line Items] | ' | ' | ' | ' | ||||
Proceeds From Multi Client Library | 25,000,000 | ' | ' | ' | ||||
Multi Client Library Revenue | $700,000 | ' | $25,000,000 | ' | ||||
[1] | Backstop amortization and Impairment are included in Multi-client Data Library and Other Impairment in the Consolidated Statements of Operations. |
Note_4_MultiClient_Library_Det1
Note 4 - Multi-Client Library (Details) - Multi-client Library (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Multi-client Library (current period unaudited) [Abstract] | ' | ' |
Multi-client library, at cost | $720,766 | $655,477 |
Less: accumulated Multi-client library amortization | 441,583 | 346,410 |
Multi-client library, net | $279,183 | $309,067 |
Note_4_MultiClient_Library_Det2
Note 4 - Multi-Client Library (Details) - Multi-client library amortization expense included the following (in thousands): (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Note 4 - Multi-Client Library (Details) - Multi-client library amortization expense included the following (in thousands): [Line Items] | ' | ' | ' | ' | ||||
Amortization | $23,166,000 | $37,412,000 | $95,173,000 | $85,540,000 | ||||
Multi-Client Library [Member] | Revenue Based Amortization [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) - Multi-client library amortization expense included the following (in thousands): [Line Items] | ' | ' | ' | ' | ||||
Amortization | 20,089,000 | [1] | 35,519,000 | [1] | 76,392,000 | [1] | 79,107,000 | [1] |
Multi-Client Library [Member] | Backstop Amortization [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) - Multi-client library amortization expense included the following (in thousands): [Line Items] | ' | ' | ' | ' | ||||
Amortization | 3,077,000 | [2] | 1,893,000 | [2] | 5,790,000 | [2] | 6,433,000 | [2] |
Multi-Client Library [Member] | ' | ' | ' | ' | ||||
Note 4 - Multi-Client Library (Details) - Multi-client library amortization expense included the following (in thousands): [Line Items] | ' | ' | ' | ' | ||||
Impairment (2) | $0 | [2] | ' | [2] | $12,991,000 | [2] | ' | [2] |
[1] | Multi-client data library revenue amortization is included in Operating Expenses in the Consolidated Statements of Operations. | |||||||
[2] | Backstop amortization and Impairment are included in Multi-client Data Library and Other Impairment in the Consolidated Statements of Operations. |
Note_5_Property_And_Equipment_1
Note 5 - Property And Equipment (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | 30-May-13 | Sep. 30, 2013 | Sep. 30, 2013 |
Fire Loss [Member] | Fire Loss [Member] | Fire Loss [Member] | |||
Equipment [Member] | |||||
Note 5 - Property And Equipment (Details) [Line Items] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net | $89,614,000 | $100,172,000 | $4,400,000 | ' | ' |
Insurance Recoveries | ' | ' | ' | $2,400,000 | $4,500,000 |
Note_5_Property_And_Equipment_2
Note 5 - Property And Equipment (Details) - Property and Equipment (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property and Equipment (current period unaudited) [Abstract] | ' | ' |
Machinery and equipment | $299,017 | $308,039 |
Computers and software | 20,073 | 19,661 |
Buildings | 13,601 | 13,601 |
Boats | 7,634 | 7,634 |
Land | 2,157 | 2,157 |
Furniture and fixtures | 103 | 103 |
342,585 | 351,195 | |
Less: accumulated depreciation | 268,062 | 258,248 |
74,523 | 92,947 | |
Construction in process | 15,091 | 7,225 |
Property and equipment, net | $89,614 | $100,172 |
Note_5_Property_And_Equipment_3
Note 5 - Property And Equipment (Details) - Analysis of Depreciation Expense (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Analysis of Depreciation Expense (unaudited) [Abstract] | ' | ' | ' | ' |
Gross depreciation expense | $10,296 | $9,078 | $28,781 | $28,662 |
Less: capitalized depreciation for Multi-client library | 971 | 3,216 | 3,562 | 9,291 |
Depreciation (net) | $9,325 | $5,862 | $25,219 | $19,371 |
Note_6_Goodwill_And_Other_Inta2
Note 6 - Goodwill And Other Intangibles (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 6 - Goodwill And Other Intangibles (Details) [Line Items] | ' | ' | ' | ' |
Amortization | $0.80 | $0.80 | $2.40 | $2.30 |
Research And Development Expense Internal Use Software | 0.1 | 0.3 | 0.4 | 1.7 |
Data Library And Other Impairment [Member] | ' | ' | ' | ' |
Note 6 - Goodwill And Other Intangibles (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | ' | 1 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Note 6 - Goodwill And Other Intangibles (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | ' | $0.20 |
Minimum [Member] | ' | ' | ' | ' |
Note 6 - Goodwill And Other Intangibles (Details) [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '2 years | ' |
Maximum [Member] | ' | ' | ' | ' |
Note 6 - Goodwill And Other Intangibles (Details) [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '15 years | ' |
Note_6_Goodwill_And_Other_Inta3
Note 6 - Goodwill And Other Intangibles (Details) - Goodwill and Other Intangibles (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | $20,010 | $19,596 |
Less: accumulated amortization | 9,151 | 6,513 |
Total intangible assets, net | 10,859 | 13,083 |
Goodwill | 11,342 | 12,381 |
Total goodwill and other intangibles, net | 22,201 | 25,464 |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | 3,984 | 3,984 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | 1,759 | 1,759 |
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | 3,913 | 3,913 |
Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | 1,057 | 1,057 |
Intellectual Property [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets | $9,297 | $8,883 |
Note_7_Income_Taxes_Details
Note 7 - Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 2.20% | 44.90% | 12.70% | 44.80% |
Note_8_Longterm_Debt_Details
Note 8 - Long-term Debt (Details) (USD $) | 1 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||
Mar. 28, 2012 | Apr. 27, 2010 | 1-May-17 | Apr. 30, 2016 | Apr. 30, 2015 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Feb. 28, 2007 | Sep. 28, 2012 | Sep. 28, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 09, 2011 | Jun. 09, 2011 | Jun. 09, 2011 | Jul. 20, 2012 | Jul. 20, 2012 | Jul. 20, 2012 | Sep. 30, 2013 | Apr. 24, 2013 | Jun. 09, 2011 | Apr. 30, 2010 | Jun. 09, 2011 | Jun. 09, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
Amount To Be Exchanged [Member] | Interest Rate On Debt To Be Exchanged [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | TPG Specialty Lending [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | Bank Of America [Member] | STRM LLC [Member] | STRM LLC [Member] | Term Loan A [Member] | Foreign Loan Amounts [Member] | Foreign Loan Amounts [Member] | Foreign Loan Interest Rates [Member] | Foreign Loan Interest Rates [Member] | Minimum [Member] | ||||||||||
London Interbank Offered Rate (LIBOR) [Member] | LIBOR Floor Rate [Member] | 3 Month LIBOR Floor Rate [Member] | Additional Interest Rate Above Alternative Base Rates [Member] | Term Loan A [Member] | Term Loan B [Member] | Term Loans A And B [Member] | London Interbank Offered Rate (LIBOR) [Member] | Federal Funds Rate [Member] | Prime Rate [Member] | Incremental Increase In Borrowing Capacity Under Third Amendment [Member] | New Borrowing Capacity Under Third Amendment [Member] | Additional Borrowing Capacity [Member] | FourthAmendment [Member] | FourthAmendment [Member] | Minimum [Member] | Minimum [Member] | ||||||||||||||||||||||
Term Loans A And B [Member] | Term Loans A And B [Member] | Term Loans A And B [Member] | Term Loans A And B [Member] | London Interbank Offered Rate (LIBOR) [Member] | Prime Rate [Member] | |||||||||||||||||||||||||||||||||
Note 8 - Long-term Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | $50,000,000 | $200,000,000 | $250,000,000 | ' | ' | ' | ' | ' | ' | $50,000,000 | ' | ' | ' | ' | ' | $82,800,000 | $22,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 10.50% | 10.50% | ' | ' | ' | ' | ' | 10.50% | ' | ' | 10.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 47,000,000 | 188,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption Price Percentage Of Principle Of Debt | ' | ' | 100.00% | 102.63% | 105.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Face Value | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Amortization, Deferred Finance Costs | ' | ' | ' | ' | ' | 2,700,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | 1.00% | 4.00% | 8.75% | ' | ' | ' | 4.00% | 0.50% | 3.00% | ' | ' | ' | ' | ' | ' | ' | 3.50% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' |
Loan Covenant Term Percentage Of Consolidated Excess Cash Flow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covenant Term Consolidated Liquidity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 |
Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82,800,000 | ' | ' | ' | ' | ' |
Long-term Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.75% | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,000,000 | 67,500,000 | 10,000,000 | 67,500,000 | 80,000,000 | 70,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable to Bank | ' | ' | ' | ' | ' | 1,200,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 800,000 | ' | 8,800,000 | 10,400,000 | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | 3.40% | 3.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.60% | 9.10% | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | $1,000,000 | $1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_8_Longterm_Debt_Details_L
Note 8 - Long-term Debt (Details) - Long-Term Debt (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | $343,452 | $341,070 |
Less: unamortized discount | 5,875 | 6,850 |
337,577 | 334,220 | |
Less: current portion | 10,252 | 22,970 |
Long-term debt, net of current portion and unamortized discount | 327,325 | 311,250 |
Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | 250,000 | 250,000 |
Senior Secured Term Loan Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | 82,800 | ' |
Line of Credit [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | ' | 79,060 |
Loans Payable [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | 9,408 | 11,204 |
Notes Payable Insurnance [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-Term Debt | $1,244 | $806 |
Note_9_Capital_Lease_Details
Note 9 - Capital Lease (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Leases [Abstract] | ' | ' |
Capital Lease Obligations (in Dollars) | $6.80 | $9.80 |
Sale Leaseback Transaction, Imputed Interest Rate | 5.70% | 5.30% |
Note_10_Fair_Value_Of_Financia2
Note 10 - Fair Value Of Financial Instruments (Details) - Fair Value Level One Liabilities (current period unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long-Term Debt One [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair Value | $170,000 | $178,000 |
Long-Term Debt One [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Carrying Amount | 196,399 | 195,801 |
Long-Term Debt Two [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair Value | 42,500 | 44,500 |
Long-Term Debt Two [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Carrying Amount | $47,726 | $47,349 |
Note_11_Stockbased_Compensatio2
Note 11 - Stock-based Compensation (Details) (USD $) | 9 Months Ended | 93 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Performance Shares [Member] | Non Vested Stock Options [Member] | Non Vested Stock Options [Member] | Non Vested Stock Awards [Member] | Non Vested Stock Awards [Member] | ||||
Note 11 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 9,203,058 | ' | 9,203,058 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '7 years | ' | ' | ' | ' | '84 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 5,830,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in Shares) | ' | ' | 3,442,000 | ' | ' | -504,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | $4,880,000 | $4,506,000 | ' | $400,000 | $300,000 | $1,200,000 | $1,000,000 | $1,100,000 | $1,200,000 | $3,700,000 | $3,500,000 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 1,060,025 | 377,025 | 1,060,025 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,600,000 | $1,800,000 | $4,100,000 | $6,800,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 508,647 | ' | 1,114,950 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Plan Description | 'Employee Stock Purchase Plan: The Company maintains an Employee Stock Purchase Plan ("ESPP"), under which employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase the Company's common stock. The purchase price of the stock is 85% of the lower of the stock price at the beginning or end of the plan period at three-month intervals. The expense related to the ESPP for the three and nine months ended September 30, 2013 and 2012 was immaterial to the consolidated financial statements. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_Stockbased_Compensatio3
Note 11 - Stock-based Compensation (Details) - Assumptions used in valuing stock options | 9 Months Ended |
Sep. 30, 2013 | |
Assumptions used in valuing stock options [Abstract] | ' |
Risk-free interest rate | 1.19% |
Expected lives (in years) | '7 years |
Expected dividend yield | 0.00% |
Expected volatility | 78.76% |
Note_11_Stockbased_Compensatio4
Note 11 - Stock-based Compensation (Details) - Option Activity (USD $) | 93 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 30, 2012 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | ||
Note 11 - Stock-based Compensation (Details) - Option Activity [Line Items] | ' | ' | ' |
Balance as of December 31, 2012 (in Shares) | ' | ' | 1,893,200 |
Balance as of December 31, 2012 | ' | ' | $22.87 |
Balance as of December 31, 2012 | ' | ' | $5.30 |
Granted (in Shares) | ' | 1,000,000 | ' |
Granted | ' | $3.51 | ' |
Granted | ' | $3.51 | ' |
Forfeited (in Shares) | 3,442,000 | -504,800 | ' |
Forfeited | ' | $20.90 | ' |
Forfeited | ' | $4.91 | ' |
Balance at September 30, 2013 (in Shares) | ' | 2,388,400 | 1,893,200 |
Balance at September 30, 2013 | ' | $15.11 | $22.87 |
Balance at September 30, 2013 | ' | '4 years 310 days | ' |
Balance at September 30, 2013 | ' | $4.60 | $5.30 |
Exercisable as of September 30, 2013 (in Shares) | ' | 1,328,375 | ' |
Exercisable as of September 30, 2013 | ' | $22.55 | ' |
Exercisable as of September 30, 2013 | ' | '4 years 302 days | ' |
Exercisable as of September 30, 2013 | ' | $5.12 | ' |
Note_11_Stockbased_Compensatio5
Note 11 - Stock-based Compensation (Details) - Restricted Stock Activity (Restricted Stock [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Restricted Stock [Member] | ' |
Note 11 - Stock-based Compensation (Details) - Restricted Stock Activity [Line Items] | ' |
Balance as of December 31, 2012 | 976,976 |
Balance as of December 31, 2012 (in Dollars per share) | $6.72 |
Granted | 508,647 |
Granted (in Dollars per share) | $3.43 |
Vested | -229,277 |
Vested (in Dollars per share) | $11.07 |
Forfeited | -222,119 |
Forfeited (in Dollars per share) | $9.54 |
Balance at September 30, 2013 | 1,034,227 |
Balance at September 30, 2013 (in Dollars per share) | $3.53 |
Note_12_Earnings_Loss_Per_Shar2
Note 12 - Earnings (Loss) Per Share (Details) (Out Of The Money Stock Options [Member]) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Out Of The Money Stock Options [Member] | ' | ' |
Note 12 - Earnings (Loss) Per Share (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,388,400 | 2,020,800 |
Note_12_Earnings_Loss_Per_Shar3
Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) [Line Items] | ' | ' | ' | ' |
Net income (loss), attributable to common shareholders (in Dollars) | ($24,199) | $5,807 | ($51,527) | $15,283 |
Basic weighted average shares outstanding | 38,087,000 | 37,450,000 | 37,944,000 | 37,252,000 |
Basic income (loss) per share (in Dollars per share) | ($0.64) | $0.16 | ($1.36) | $0.41 |
Diluted income (loss) per share (in Dollars per share) | ($0.64) | $0.16 | ($1.36) | $0.41 |
Diluted Securities [Member] | ' | ' | ' | ' |
Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) [Line Items] | ' | ' | ' | ' |
Total | 38,087,000 | 37,450,000 | 37,944,000 | 37,252,000 |
Note_13_Supplemental_Cash_Flow2
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Cash Flow Information (unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Supplemental Cash Flow Information (unaudited) [Abstract] | ' | ' |
Interest paid | $17,051 | $15,079 |
Income taxes paid | $3,860 | $5,514 |
Note_13_Supplemental_Cash_Flow3
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items] | ' | ' |
Property and equipment additions transferred from inventory | $13,503 | ' |
Property and equipment additions transferred from held-for-sale | 4,292 | ' |
Property and equipment additions financed through capital leases | 405 | 1,819 |
Non-cash Multi-client data swap asset recorded as deferred revenue | ' | 146 |
Original issue discount on notes payable | ' | 3,000 |
Purchase price not paid at close of acquisition | ' | 2,993 |
Equipment Additions With Swap Of Property And Equipment [Member] | ' | ' |
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items] | ' | ' |
Non-cash property and equipment additions | ' | 7,500 |
Data Swap [Member] | ' | ' |
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items] | ' | ' |
Non-cash property and equipment additions | ' | $1,751 |
Note_14_Segment_Information_De
Note 14 - Segment Information (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_14_Segment_Information_De1
Note 14 - Segment Information (Details) - Significant Information Concerning The Company’s Reportable Segments (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $70,033 | $90,214 | $216,794 | $283,696 |
Segment income (loss) before taxes | -24,649 | 10,822 | -59,188 | 27,493 |
Proprietary Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 41,407 | 30,173 | 95,617 | 153,585 |
Segment income (loss) before taxes | -10,933 | 299 | -28,585 | 12,252 |
Segment assets | 32,600 | 41,659 | 32,600 | 41,659 |
Multi-Client Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 28,626 | 60,041 | 121,177 | 130,111 |
Segment income (loss) before taxes | -13,602 | 15,596 | -9,379 | 27,912 |
Segment assets | 293,766 | 331,873 | 293,766 | 331,873 |
Corporate Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Segment income (loss) before taxes | -114 | -5,073 | -21,224 | -12,671 |
Segment assets | 142,297 | 182,865 | 142,297 | 182,865 |
Total [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 70,033 | 90,214 | 216,794 | 283,696 |
Segment income (loss) before taxes | -24,649 | 10,822 | -59,188 | 27,493 |
Segment assets | $468,663 | $556,397 | $468,663 | $556,397 |
Note_16_Guarantees_Of_Register2
Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Balance Sheets (unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Current assets | $67,630 | $111,771 |
Multi-client library, net | 279,183 | 309,067 |
Property and equipment, net | 89,614 | 100,172 |
TOTAL ASSETS | 468,663 | 552,875 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ' | ' |
Current liabilities | 72,286 | 100,326 |
TOTAL LIABILITIES | 407,291 | 445,327 |
Stockholders' equity | 61,372 | 107,548 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 468,663 | 552,875 |
Guarantors [Member] | ' | ' |
ASSETS | ' | ' |
Current assets | 113,508 | 150,864 |
Multi-client library, net | 277,841 | 309,031 |
Property and equipment, net | 88,079 | 97,129 |
Investment in subsidiaries | 1 | 1 |
Intercompany accounts | 26,238 | 20,589 |
Other non-current assets | 32,080 | 31,728 |
TOTAL ASSETS | 537,747 | 609,342 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ' | ' |
Current liabilities | 82,314 | 102,568 |
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 330,174 | 315,426 |
Deferred income tax and other non-current liabilities | 4,831 | 29,575 |
TOTAL LIABILITIES | 417,319 | 447,569 |
Stockholders' equity | 120,428 | 161,773 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 537,747 | 609,342 |
Non Guarantors [Member] | ' | ' |
ASSETS | ' | ' |
Current assets | 5,461 | 21,761 |
Multi-client library, net | 1,342 | 36 |
Property and equipment, net | 1,535 | 3,043 |
Intercompany accounts | -26,238 | -20,589 |
Other non-current assets | 156 | 137 |
TOTAL ASSETS | -17,744 | 4,388 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ' | ' |
Current liabilities | 41,311 | 58,612 |
TOTAL LIABILITIES | 41,311 | 58,612 |
Stockholders' equity | -59,055 | -54,224 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | -17,744 | 4,388 |
Eliminations [Member] | ' | ' |
ASSETS | ' | ' |
Current assets | -51,339 | -60,854 |
Investment in subsidiaries | -1 | -1 |
TOTAL ASSETS | -51,340 | -60,855 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ' | ' |
Current liabilities | -51,339 | -60,854 |
TOTAL LIABILITIES | -51,339 | -60,854 |
Stockholders' equity | -1 | -1 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | -51,340 | -60,855 |
Consolidated [Member] | ' | ' |
ASSETS | ' | ' |
Current assets | 67,630 | 111,771 |
Multi-client library, net | 279,183 | 309,067 |
Property and equipment, net | 89,614 | 100,172 |
Other non-current assets | 32,236 | 31,865 |
TOTAL ASSETS | 468,663 | 552,875 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ' | ' |
Current liabilities | 72,286 | 100,326 |
Long-term debt and capital lease obligations, net of current portion and unamortized discount | 330,174 | 315,426 |
Deferred income tax and other non-current liabilities | 4,831 | 29,575 |
TOTAL LIABILITIES | 407,291 | 445,327 |
Stockholders' equity | 61,372 | 107,548 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $468,663 | $552,875 |
Note_16_Guarantees_Of_Register3
Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Statements of Operations (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
STATEMENTS OF OPERATIONS | ' | ' | ' | ' |
Revenues | $70,033,000 | $90,214,000 | $216,794,000 | $283,696,000 |
Operating expenses | 68,072,000 | 59,867,000 | 186,108,000 | 200,522,000 |
Data library impairment | 4,116,000 | 1,893,000 | 19,820,000 | 6,433,000 |
Data library commissions | 5,173,000 | ' | 11,106,000 | ' |
Selling, general and administrative expenses | 11,460,000 | 9,410,000 | 39,028,000 | 34,390,000 |
Gain on disposal of property and equipment | -3,455,000 | -2,231,000 | -6,380,000 | -12,112,000 |
Income (loss) from operations | -15,333,000 | 21,275,000 | -32,888,000 | 54,463,000 |
Income (loss) before income taxes | -24,649,000 | 10,822,000 | -59,188,000 | 27,493,000 |
Income tax expense | -548,000 | 4,864,000 | -7,519,000 | 12,319,000 |
Income (loss) after income taxes | -24,101,000 | 5,958,000 | -51,669,000 | 15,174,000 |
Net loss, attributable to noncontrolling interests | 98,000 | 151,000 | -142,000 | -109,000 |
Net income (loss), attributable to common shareholders | -24,199,000 | 5,807,000 | -51,527,000 | 15,283,000 |
Guarantors [Member] | ' | ' | ' | ' |
STATEMENTS OF OPERATIONS | ' | ' | ' | ' |
Revenues | 56,562,000 | 65,883,000 | 182,885,000 | 186,672,000 |
Operating expenses | 58,243,000 | 40,536,000 | 157,416,000 | 115,603,000 |
Data library impairment | 4,116,000 | 1,893,000 | 19,820,000 | 6,433,000 |
Data library commissions | 5,173,000 | ' | 11,106,000 | ' |
Selling, general and administrative expenses | 8,702,000 | 5,983,000 | 30,897,000 | 18,791,000 |
Gain on disposal of property and equipment | -3,455,000 | -2,231,000 | -6,380,000 | -11,922,000 |
Income (loss) from operations | -16,217,000 | 19,702,000 | -29,974,000 | 57,767,000 |
Interest income (expense), net | -8,883,000 | -8,302,000 | -25,531,000 | -23,354,000 |
Other income (expense), net | -297,000 | -2,174,000 | -226,000 | -1,783,000 |
Income (loss) before income taxes | -25,397,000 | 9,226,000 | -55,731,000 | 32,630,000 |
Income tax expense | -696,000 | 3,225,000 | -8,893,000 | 8,545,000 |
Income (loss) after income taxes | -24,701,000 | 6,001,000 | -46,838,000 | 24,085,000 |
Net loss, attributable to noncontrolling interests | 98,000 | 151,000 | -142,000 | -109,000 |
Net income (loss), attributable to common shareholders | -24,799,000 | 5,850,000 | -46,696,000 | 24,194,000 |
Non Guarantors [Member] | ' | ' | ' | ' |
STATEMENTS OF OPERATIONS | ' | ' | ' | ' |
Revenues | 15,567,000 | 26,385,000 | 39,032,000 | 105,177,000 |
Operating expenses | 11,644,000 | 21,122,000 | 33,188,000 | 92,119,000 |
Selling, general and administrative expenses | 3,039,000 | 3,690,000 | 8,758,000 | 16,552,000 |
Gain on disposal of property and equipment | ' | ' | ' | -190,000 |
Income (loss) from operations | 884,000 | 1,573,000 | -2,914,000 | -3,304,000 |
Interest income (expense), net | -1,000 | 7,000 | -152,000 | 10,000 |
Other income (expense), net | -135,000 | 16,000 | -391,000 | -1,843,000 |
Income (loss) before income taxes | 748,000 | 1,596,000 | -3,457,000 | -5,137,000 |
Income tax expense | 148,000 | 1,639,000 | 1,374,000 | 3,774,000 |
Income (loss) after income taxes | 600,000 | -43,000 | -4,831,000 | -8,911,000 |
Net income (loss), attributable to common shareholders | 600,000 | -43,000 | -4,831,000 | -8,911,000 |
Eliminations [Member] | ' | ' | ' | ' |
STATEMENTS OF OPERATIONS | ' | ' | ' | ' |
Revenues | -2,096,000 | -2,054,000 | -5,123,000 | -8,153,000 |
Operating expenses | -1,815,000 | -1,791,000 | -4,496,000 | -7,200,000 |
Selling, general and administrative expenses | -281,000 | -263,000 | -627,000 | -953,000 |
Consolidated [Member] | ' | ' | ' | ' |
STATEMENTS OF OPERATIONS | ' | ' | ' | ' |
Revenues | 70,033,000 | 90,214,000 | 216,794,000 | 283,696,000 |
Operating expenses | 68,072,000 | 59,867,000 | 186,108,000 | 200,522,000 |
Data library impairment | 4,116,000 | 1,893,000 | 19,820,000 | 6,433,000 |
Data library commissions | 5,173,000 | ' | 11,106,000 | ' |
Selling, general and administrative expenses | 11,460,000 | 9,410,000 | 39,028,000 | 34,390,000 |
Gain on disposal of property and equipment | -3,455,000 | -2,231,000 | -6,380,000 | -12,112,000 |
Income (loss) from operations | -15,333,000 | 21,275,000 | -32,888,000 | 54,463,000 |
Interest income (expense), net | -8,884,000 | -8,295,000 | -25,683,000 | -23,344,000 |
Other income (expense), net | -432,000 | -2,158,000 | -617,000 | -3,626,000 |
Income (loss) before income taxes | -24,649,000 | 10,822,000 | -59,188,000 | 27,493,000 |
Income tax expense | -548,000 | 4,864,000 | -7,519,000 | 12,319,000 |
Income (loss) after income taxes | -24,101,000 | 5,958,000 | -51,669,000 | 15,174,000 |
Net loss, attributable to noncontrolling interests | 98,000 | 151,000 | -142,000 | -109,000 |
Net income (loss), attributable to common shareholders | ($24,199,000) | $5,807,000 | ($51,527,000) | $15,283,000 |
Note_16_Guarantees_Of_Register4
Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Statements of Cash Flows (unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
STATEMENTS OF CASH FLOWS | ' | ' |
Net cash provided by (used in) operating activities | $54,710 | $93,312 |
Net cash used in investing activities | -55,683 | -132,325 |
Net cash provided by (used in) financing activities | -5,612 | 41,057 |
Net increase (decrease) in cash and cash equivalents | -6,585 | 2,044 |
Guarantors [Member] | ' | ' |
STATEMENTS OF CASH FLOWS | ' | ' |
Net cash provided by (used in) operating activities | 59,182 | 91,320 |
Net cash used in investing activities | -53,624 | -127,916 |
Net cash provided by (used in) financing activities | -6,218 | 42,958 |
Net increase (decrease) in cash and cash equivalents | -660 | 6,362 |
Non Guarantors [Member] | ' | ' |
STATEMENTS OF CASH FLOWS | ' | ' |
Net cash provided by (used in) operating activities | -4,472 | 1,992 |
Net cash used in investing activities | -2,059 | -4,409 |
Net cash provided by (used in) financing activities | 606 | -1,901 |
Net increase (decrease) in cash and cash equivalents | -5,925 | -4,318 |
Consolidated [Member] | ' | ' |
STATEMENTS OF CASH FLOWS | ' | ' |
Net cash provided by (used in) operating activities | 54,710 | 93,312 |
Net cash used in investing activities | -55,683 | -132,325 |
Net cash provided by (used in) financing activities | -5,612 | 41,057 |
Net increase (decrease) in cash and cash equivalents | ($6,585) | $2,044 |
Note_17_Subsequent_Events_Deta
Note 17 - Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 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 | Oct. 17, 2013 | |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||
Data Library And Other Impairment [Member] | Data Library And Other Impairment [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Paisano Lease Company Inc [Member] | |||||
Paisano Lease Company Inc [Member] | Paisano Lease Company Inc [Member] | Paisano Lease Company Inc [Member] | Paisano Lease Company Inc [Member] | ||||||
Note 17 - Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | $900,000 |
Gain (Loss) on Disposition of Property Plant Equipment | 3,455,000 | 2,231,000 | 6,380,000 | 12,112,000 | ' | ' | ' | ' | 0 |
Goodwill and Intangible Asset Impairment | ' | ' | ' | ' | $1,000,000 | $1,000,000 | $200,000 | $200,000 | ' |