Forum Energy (FET) 10-Q 1 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	FORUM ENERGY TECHNOLOGIES, INC.
Entity Central Index Key	1,401,257
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		108,096,622

Condensed consolidated statemen

Condensed consolidated statements of comprehensive income (loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 198,709	$ 138,268	$ 570,920	$ 440,432
Cost of sales	151,150	108,984	435,127	371,310
Gross profit	47,559	29,284	135,793	69,122
Operating expenses
Selling, general and administrative expenses	63,191	53,362	185,760	171,638
Transaction expenses	882	341	1,755	571
Goodwill and intangible asset impairment	638	0	68,642	0
Loss on sale of assets and other	128	2,217	1,517	2,233
Total operating expenses	64,839	55,920	257,674	174,442
Earnings from equity investment	3,361	414	7,391	1,207
Operating income (loss)	(13,919)	(26,222)	(114,490)	(104,113)
Other expense (income)
Interest expense	6,366	6,746	19,331	20,664
Deferred financing costs written off	0	0	0	2,588
Foreign exchange losses (gains) and other, net	2,360	(3,152)	6,508	(14,546)
Total other expense	8,726	3,594	25,839	8,706
Loss before income taxes	(22,645)	(29,816)	(140,329)	(112,819)
Income tax benefit	(7,817)	(11,821)	(31,860)	(43,374)
Net loss	(14,828)	(17,995)	(108,469)	(69,445)
Less: Income (loss) attributable to noncontrolling interest	0	(6)	0	24
Net loss attributable to common stockholders	$ (14,828)	$ (17,989)	$ (108,469)	$ (69,469)
Weighted average shares outstanding
Basic (in shares)	96,275	90,860	96,103	90,682
Diluted (in shares)	96,275	90,860	96,103	90,682
Loss per share
Basic (in dollars per share)	$ (0.15)	$ (0.20)	$ (1.13)	$ (0.77)
Diluted (in dollars per share)	$ (0.15)	$ (0.20)	$ (1.13)	$ (0.77)
Other comprehensive income (loss), net of tax:
Net loss	$ (14,828)	$ (17,995)	$ (108,469)	$ (69,445)
Change in foreign currency translation, net of tax of $0	11,547	(6,243)	34,094	(25,618)
Loss on pension liability	(36)	(14)	(133)	(33)
Comprehensive loss	(3,317)	(24,252)	(74,508)	(95,096)
Less: comprehensive income attributable to noncontrolling interests	0	(27)	0	(156)
Comprehensive loss attributable to common stockholders	$ (3,317)	$ (24,279)	$ (74,508)	$ (95,252)

Condensed consolidated stateme3

Condensed consolidated statements of comprehensive income (loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0

Condensed consolidated balance

Condensed consolidated balance sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 156,392	$ 234,422
Accounts receivable—trade, net	154,376	105,268
Inventories, net	394,103	338,583
Income tax receivable	1,872	32,801
Prepaid expenses and other current assets	27,705	29,443
Costs and estimated profits in excess of billings	9,395	9,199
Total current assets	743,843	749,716
Property and equipment, net of accumulated depreciation	149,016	152,212
Deferred financing costs, net	657	1,112
Intangible assets	224,565	216,418
Goodwill	619,632	652,743
Investment in unconsolidated subsidiary	64,499	59,140
Deferred income taxes, net	9,719	851
Other long-term assets	2,924	3,000
Total assets	1,814,855	1,835,192
Current liabilities
Current portion of long-term debt	1,133	124
Accounts payable—trade	123,148	73,775
Accrued liabilities	64,718	55,604
Deferred revenue	8,506	8,338
Billings in excess of costs and profits recognized	1,530	4,004
Total current liabilities	199,035	141,845
Long-term debt, net of current portion	398,145	396,747
Deferred income taxes, net	4,175	26,185
Other long-term liabilities	34,858	34,654
Total liabilities	636,213	599,431
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 104,789,172 and 103,682,128 shares issued	1,048	1,037
Additional paid-in capital	1,016,458	998,169
Treasury stock at cost, 8,190,362 and 8,174,963 shares	(134,293)	(133,941)
Retained earnings	389,705	498,174
Accumulated other comprehensive loss	(94,276)	(128,237)
Total stockholders’ equity	1,178,642	1,235,202
Noncontrolling interest in subsidiary	0	559
Total equity	1,178,642	1,235,761
Total liabilities and equity	$ 1,814,855	$ 1,835,192

Condensed consolidated balance5

Condensed consolidated balance sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common Stock, par value (USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	296,000,000	296,000,000
Common Stock, shares issued	104,789,172	103,682,128
Treasury Stock, shares, at cost	8,190,362	8,174,963

Condensed consolidated stateme6

Condensed consolidated statements of cash flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (108,469)	$ (69,445)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation expense	25,212	27,141
Amortization of intangible assets	20,030	19,709
Goodwill and intangible asset impairment	68,642	0
Share-based compensation expense	15,219	15,521
Inventory write down	1,376	24,479
Deferred income taxes	(31,041)	(12,988)
Deferred financing costs written off	0	2,588
Earnings from unconsolidated subsidiary, net of distributions	(4,317)	(804)
Other	4,548	4,137
Changes in operating assets and liabilities
Accounts receivable—trade	(43,167)	35,673
Inventories	(44,288)	44,538
Prepaid expenses and other current assets	1,684	7,113
Income tax receivable	30,929	(32,801)
Accounts payable, deferred revenue and other accrued liabilities	49,126	(15,130)
Costs and estimated profits in excess of billings, net	(2,567)	(5,511)
Net cash provided by (used in) operating activities	(17,083)	44,220
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(47,890)	(2,700)
Capital expenditures for property and equipment	(19,656)	(13,438)
Proceeds from sale of business, property and equipment	1,849	3,710
Investment in unconsolidated subsidiary	(1,041)	0
Net cash used in investing activities	(66,738)	(12,428)
Cash flows from financing activities
Repayment of debt	(1,140)	(254)
Cash paid for net treasury shares withheld	(4,667)	(1,273)
Proceeds from stock issuance	2,896	2,742
Deferred financing costs	0	(513)
Net cash provided by (used in) financing activities	(2,911)	702
Effect of exchange rate changes on cash	8,702	(9,209)
Net increase (decrease) in cash and cash equivalents	(78,030)	23,285
Cash and cash equivalents
Beginning of period	234,422	109,249
End of period	156,392	132,534
Noncash investing activities
Acquisition via issuance of stock	$ 4,500	$ 0

Organization and basis of prese

Organization and basis of presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and basis of presentation	Organization and basis of presentation Forum Energy Technologies, Inc. (the "Company"), a Delaware corporation, is a global oilfield products company, serving the drilling, subsea, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. Basis of presentation The accompanying unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The Company's investment in an operating entity where the Company has the ability to exert significant influence, but does not control operating and financial policies is accounted for using the equity method. The Company's share of the net income of this entity is recorded as "Earnings from equity investment" in the condensed consolidated statements of comprehensive income (loss). The investment in this entity is included in "Investment in unconsolidated subsidiary" in the condensed consolidated balance sheets. The Company reports its share of equity earnings within operating income (loss) as the investee's operations are integral to the operations of the Company. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the fair statement of the Company's financial position, results of operations and cash flows have been included. Operating results for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other interim period. These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("GAAP") for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2016 , which are included in the Company’s 2016 Annual Report on Form 10-K filed with the SEC on February 28, 2017 (the "Annual Report").

Recent accounting pronouncement

Recent accounting pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB"), which are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. In September 2017, the FASB issued Accounting Standard Updates ("ASU") No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments. This ASU codifies the text of the SEC announcement, as it relates to revenue recognition and leases. The ASU also rescinds certain codified SEC announcements and comments that are no longer applicable upon adoption of ASU No. 2014-09 and ASU No. 2016-02. These recent accounting pronouncements related to revenue and leases are discussed later in this footnote. In May 2017, the FASB issued ASU No. 2017-09 Compensation - Stock Compensation (Topic 718) - Scope of Modification Accounting, which clarifies when to account for a change to the terms or conditions of a share based payment award as a modification. Under the new ASU, an entity should apply modification accounting unless the fair value, the vesting conditions, and the classification of the award as equity or liability of the modified award all remain the same as the original award. The ASU should be adopted prospectively for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-04 Intangibles- Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test where the implied fair value of goodwill needs to be determined and compared to the carrying amount of that goodwill to measure the impairment loss. The Company is required to adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company has early adopted the standard in the first quarter of 2017. During the second quarter of 2017, the Company applied this new ASU to perform the goodwill impairment analysis. See Note 6, Goodwill and intangible assets for more details. In January 2017, the FASB issued ASU No. 2017-01 Business Combination (Topic 805) - Clarifying the Definition of a Business, in an effort to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance will be effective for annual periods beginning after December 15, 2017, including interim periods within those periods, and is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230) - Restricted Cash a consensus of the FASB Emerging Issues Task Force. This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, and is not expected to have a material impact on the Company's consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16 Income Tax (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This new guidance eliminates this exception and requires the income tax consequences of an intra-entity transfer of an asset other than inventory be recognized when the transfer occurs. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods, and should be applied on a modified retrospective basis through a direct cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The ASU is not expected to have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-15 Cash Flow Statement (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice, including: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The only issue currently relevant to the Company is distributions received from equity method investees, where the new guidance allows an accounting policy election between the cumulative earnings approach and the nature of the distribution approach. The Company will continue to use the cumulative earnings approach, therefore the guidance is not expected to have a material impact on the Company's consolidated financial statements. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. This new guidance includes provisions intended to simplify how share-based payments are accounted for and presented in the financial statements. The Company applied the update prospectively beginning January 1, 2017. This guidance did not have a material impact on the Company's Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, Leases. Under this new guidance, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of greater than twelve months. The standard will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of the adoption of this guidance. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. Entities must apply a five-step process to (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 also mandates disclosure of sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The disclosure requirements include qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The guidance permits the entity to use either a full retrospective or modified retrospective transition method. The FASB issued several subsequent updates in 2015 through 2017 containing implementation guidance related to the new standard. These standards provide additional guidance related to principal versus agent considerations, licensing, and identifying performance obligations. Additionally, these standards provide narrow-scope improvements and practical expedients as well as technical corrections and improvements. Overall, the new guidance is to be effective for the fiscal year beginning after December 15, 2017. Companies are able to early adopt the pronouncement, but not before fiscal years beginning after December 15, 2016. The Company is currently evaluating the impact of the pending adoption of the revised guidance. The status of implementation is as follows: • The Company has put in place an implementation team to provide training and to review contracts subject to the new revenue standard. • The implementation team continues to review contracts for the areas identified during the initial impact assessment and monitor the potential impact on the Company’s financial statements and related disclosures. • The implementation team is putting new processes and controls in place in anticipation of the new guidance. • The implementation team is providing internal training and awareness related to the revised guidance to key stakeholders throughout our organization. The Company will adopt this standard using the modified retrospective method and elect to apply the revenue standard only to contracts that are not completed as of the date of initial application. The Company does not expect a material adjustment to the consolidated financial statements upon transition.

Cash and cash equivalents Cash

Cash and cash equivalents Cash and cash equivalents	9 Months Ended
	Sep. 30, 2017
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and cash equivalents Cash and cash equivalents at September 30, 2017 are comprised of bank deposits and short-term investments with an original maturity of three months or less, such as money market funds, the fair value of which is based on quoted market prices, a Level 1 fair value measure.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions 2017 Acquisitions On January 9, 2017, the Company acquired substantially all of the assets of Cooper Valves, LLC as well as 100% of the general partnership interests of Innovative Valve Components (collectively, “Cooper”) for total aggregate consideration of $14.0 million , after settlement of working capital adjustments. The aggregate consideration includes the issuance of stock valued at $4.5 million and certain contingent cash payments. These acquisitions are included in the Production and Infrastructure segment. The acquired Cooper brands include the Accuseal® metal seated ball valves engineered to meet Class VI shut off standards for use in severe service applications, as well as a full line of cast and forged gate, globe, and check valves. Innovative Valve Components, in partnership with Cooper Valves, commercialized critical service valves and components for the power generation, mining and oil and natural gas industries. The fair values of the assets acquired and liabilities assumed have not been presented because they are not material to the consolidated financial statements. Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements. On July 3, 2017, the Company acquired Multilift Welltec, LLC and Multilift Wellbore Technology Limited (collectively, "Multilift") for approximately $39.4 million in cash consideration. These acquisitions are included in the Completions segment. Based in Houston, Texas, Multilift manufactures the patented SandGuardTM and the CycloneTM completion tools. This acquisition increases the Company’s product offering related to artificial lift to our completions customers. The Company intends to utilize its distribution system to increase Multilift’s sales with additional customers and through geographic expansion. As the value of certain assets and liabilities are preliminary in nature, they are subject to adjustment as additional information is obtained about the facts and circumstances that existed at the acquisition date, including any post-closing purchase price adjustments. When the valuation is final, any changes to the preliminary valuation of acquired assets and liabilities could result in adjustments to identified intangibles and goodwill. The following table summarizes the current fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands): 2017 Acquisitions Current assets, net of cash acquired $ 3,767 Property and equipment 96 Intangible assets (primarily developed technologies and customer relationships) 17,211 Tax-deductible goodwill 16,711 Non-tax deductible goodwill 2,623 Current liabilities (1,014 ) Long-term liabilities — Net assets acquired $ 39,394 Revenue and net income related to the 2017 acquisitions were not significant for the quarter ended September 30, 2017 . Pro forma results of operations for the 2017 acquisitions have not been presented because the effects were not material to the consolidated financial statements. Subsequent to September 30, 2017, the Company acquired the remaining membership interests in Global Tubing, LLC (“Global Tubing”). See Note 15, Subsequent event, for more details. 2016 Acquisition In April 2016, the Company completed the acquisition of the wholesale completion packers business of Team Oil Tools, Inc. The acquisition includes a wide variety of completion and service tools, including retrievable and permanent packers, bridge plugs and accessories which are sold to oilfield service providers, packer repair companies and distributors on a global basis. This acquisition is included in the Completions segment. The fair values of the assets acquired and liabilities assumed have not been presented because they are not material to the consolidated financial statements. Pro forma results of operations for the 2016 acquisition have not been presented because the effects were not material to the consolidated financial statements.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories The Company's significant components of inventory at September 30, 2017 and December 31, 2016 were as follows (in thousands): September 30, December 31, Raw materials and parts $ 119,572 $ 106,329 Work in process 45,580 23,303 Finished goods 290,657 277,303 Gross inventories 455,809 406,935 Inventory reserve (61,706 ) (68,352 ) Inventories $ 394,103 $ 338,583

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Goodwill The changes in the carrying amount of goodwill from December 31, 2016 to September 30, 2017 , were as follows (in thousands): Drilling & Subsea Completions Production & Infrastructure Total Goodwill Balance at December 31, 2016 $ 307,806 $ 327,293 $ 17,644 $ 652,743 Acquisitions, net of dispositions — 19,334 1,311 20,645 Impairment (68,004 ) — — (68,004 ) Impact of non-U.S. local currency translation 10,288 3,710 250 14,248 Goodwill Balance at September 30, 2017 $ 250,090 $ 350,337 $ 19,205 $ 619,632 The Company performs its annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. In the second quarter of 2017, there was a decline in oil prices and a developing consensus view that production from lower cost oil basins would be sufficient to meet anticipated demand for a longer period, delaying the need for production from higher cost basins. With this indication of further delays in the recovery of the offshore market, the Company performed an impairment test and determined that the carrying value of the goodwill in our Subsea reporting unit was impaired. The Company recorded an impairment charge of $68.0 million for the quarter ended June 30, 2017. Following the impairment charge, the Subsea reporting unit has no remaining balance in goodwill. There was no indication an impairment may have occurred in the other reporting units. The fair values used in the impairment analysis were determined using the net present value of the expected future cash flows for the reporting unit. During the Company’s goodwill impairment analysis, the Company determines the fair value of the reporting unit as a whole using a discounted cash flow analysis, which requires significant assumptions and estimates about future operations. The assumptions about future cash flows and growth rates are based on our current budget for the remainder of the current year, for future periods, as well as our strategic plans and management’s beliefs about future activity levels. The discount rate we used for future periods could change substantially if the cost of debt or equity were to significantly increase or decrease, or if we were to choose different comparable companies in determining the appropriate discount rate for our reporting units. Forecasted cash flows in future periods were estimated using a terminal value calculation, which considered long-term earnings growth rates. Accumulated impairment losses on goodwill were $236.8 million and $168.8 million as of September 30, 2017 and December 31, 2016 . Intangible assets Intangible assets consisted of the following as of September 30, 2017 and December 31, 2016 , respectively (in thousands): September 30, 2017 Gross carrying amount Accumulated amortization Net amortizable intangibles Amortization period (in years) Customer relationships $ 280,116 $ (131,030 ) $ 149,086 4-15 Patents and technology 52,260 (14,797 ) 37,463 5-17 Non-compete agreements 6,621 (5,950 ) 671 3-6 Trade names 46,813 (20,836 ) 25,977 10-15 Distributor relationships 22,160 (16,022 ) 6,138 8-15 Trademark 5,230 — 5,230 Indefinite Intangible Assets Total $ 413,200 $ (188,635 ) $ 224,565 December 31, 2016 Gross carrying amount Accumulated amortization Net amortizable intangibles Amortization period (in years) Customer relationships $ 270,586 $ (115,381 ) $ 155,205 4-15 Patents and technology 33,936 (12,225 ) 21,711 5-17 Non-compete agreements 6,230 (5,594 ) 636 3-6 Trade names 44,494 (17,944 ) 26,550 10-15 Distributor relationships 22,160 (15,074 ) 7,086 8-15 Trademark 5,230 — 5,230 Indefinite Intangible Assets Total $ 382,636 $ (166,218 ) $ 216,418 Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. During the quarter ended September 30, 2017 , an impairment loss of $0.6 million was recorded on certain intangible assets within the Subsea reporting unit for intangible assets related to a specific product line as the decision was made in the third quarter 2017 to abandon this specific product line.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt Notes payable and lines of credit as of September 30, 2017 and December 31, 2016 consisted of the following (in thousands): September 30, December 31, 6.25% Senior Notes due October 2021 $ 400,000 $ 400,000 Unamortized debt premium 1,684 1,989 Debt issuance cost (4,497 ) (5,324 ) Senior secured revolving credit facility — — Other debt 2,091 206 Total debt 399,278 396,871 Less: current maturities (1,133 ) (124 ) Long-term debt $ 398,145 $ 396,747 Senior Notes Due 2021 The Senior Notes bear interest at a rate of 6.250% per annum, payable on April 1 and October 1 of each year, and mature on October 1, 2021. The Senior Notes are senior unsecured obligations, and are guaranteed on a senior unsecured basis by the Company’s subsidiaries that guarantee the Credit Facility and rank junior to, among other indebtedness, the Credit Facility to the extent of the value of the collateral securing the Credit Facility. Credit Facility On February 25, 2016, we amended our credit facility with Wells Fargo Bank, National Association, as administrative agent, and several financial institutions as lenders (the “Credit Facility”) to reduce lender commitments to $200.0 million . On December 12, 2016, we further amended the Credit Facility (such further amendment, the “Amended Credit Facility”), to, among other things, reduce revolving credit line commitments from $200.0 million to $140.0 million , including up to $25.0 million available for letters of credit and up to $10.0 million in swingline loans. Availability under the Amended Credit Facility was subject to a borrowing base calculated by reference to eligible accounts receivable in the United States, United Kingdom and Canada, eligible inventory in the United States, and cash on hand. As of September 30, 2017 and December 31, 2016 , the Company had no borrowings outstanding under the Credit Facility. As of September 30, 2017 , the Company had $7.3 million of outstanding letters of credit. At September 30, 2017 , the Company had the capacity to borrow an additional $113.3 million subject to certain limitations in the Credit Facility. Weighted average interest rates under the Credit Facility for the nine months ended September 30, 2017 and the year ended December 31, 2016 were approximately 3.00% . As of September 30, 2017 , there had been no changes to the financial covenants described in Item 8 of the Annual Report and the Company was in compliance with all financial covenants. On October 30, 2017, the Company further amended and restated the Credit Facility (such amended and restated credit agreement, the “2017 Credit Facility”) to, among other things, increase revolving credit commitments from $140.0 million to $300.0 million , including up to $30.0 million available to certain Canadian subsidiaries of the Company for loans in United States or Canadian dollars, $25.0 million available for letters of credit issued for the account of the Company and certain of its domestic subsidiaries and $3.0 million available for letters of credit issued for the account of Canadian subsidiaries of the Company. Availability under the 2017 Credit Facility is subject to a borrowing base calculated by reference to eligible accounts receivable in the United States, Canada and certain other jurisdictions (subject to a cap) and eligible inventory in the United States and Canada. The Company’s borrowing capacity under the 2017 Credit Facility could be reduced or eliminated, depending on future receivables and fluctuations in the Company’s inventory. The 2017 Credit Facility matures in July 2021, but if the Company’s outstanding Notes due October 2021 are refinanced or replaced with indebtedness maturing in or after February 2023, the final maturity of the 2017 Credit Facility will automatically extend to October 2022. If excess availability under the 2017 Credit Facility falls below the greater of 10.0% of the line cap and $20.0 million , the Company will be required to maintain a fixed charge coverage ratio of at least 1.00:1.00 as of the end of each fiscal quarter until availability under the 2017 Credit Facility exceeds such thresholds for at least 60 consecutive days.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company's effective tax rate was 22.7% for the nine months ended September 30, 2017 and 38.4% for the nine months ended September 30, 2016 . The effective tax rate was 34.5% for the three months ended September 30, 2017 and 39.6% for the three months ended September 30, 2016. Impacting the tax rate for the three and nine months ended September 30, 2017 was the change in the proportion of losses being generated in the United States, which are benefited at a higher statutory tax rate, as compared to earnings being generated outside the United States in jurisdictions subject to lower tax rates. Also impacting the tax rate for the nine months ended September 30, 2017 was the implementation of new accounting guidance related to employee share-based compensation accounting, along with the impairment loss related to non-tax deductible goodwill.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements At September 30, 2017 and December 31, 2016 , the Company had no debt outstanding under the Credit Facility. At September 30, 2017 , the Company had $7.3 million of outstanding letters of credit. The fair value of the Company’s Senior Notes is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those or similar instruments. At September 30, 2017 , the fair value and the carrying value of the Company’s Senior Notes approximated $402.7 million and $401.7 million , respectively. At December 31, 2016 , the fair value and the carrying value of the Company’s Senior Notes each approximated $402.0 million . There were no outstanding financial assets as of September 30, 2017 and December 31, 2016 that required measuring the amounts at fair value. The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods and there were no transfers between levels of the fair value hierarchy during the nine months ended September 30, 2017 .

Business segments

Business segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Business segments	Business segments The Company reports its results of operations in the following three reportable segments: Drilling & Subsea, Completions and Production & Infrastructure. In order to better align with the predominant customer base of the segment, the Company has moved management and financial reporting of our AMC branded fully rotational torque machine operations from the Drilling and Subsea segment to the Completions segment. Prior period financial information has been revised to conform with current period presentation with no impact to total segment operating results. The amounts indicated below as "Corporate" relate to costs and assets not allocated to the reportable segments. Summary financial data by segment follows (in thousands): Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Revenue: Drilling & Subsea $ 54,700 $ 50,565 $ 180,607 $ 170,120 Completions 60,037 34,393 156,938 95,920 Production & Infrastructure 84,979 54,030 235,676 176,364 Intersegment eliminations (1,007 ) (720 ) (2,301 ) (1,972 ) Total Revenue $ 198,709 $ 138,268 $ 570,920 $ 440,432 Operating income (loss): Drilling & Subsea $ (8,872 ) $ (10,869 ) $ (23,580 ) $ (41,545 ) Completions 1,614 (5,676 ) (1,223 ) (39,838 ) Production & Infrastructure 4,258 (713 ) 7,124 494 Corporate (9,271 ) (6,406 ) (24,897 ) (20,420 ) Total segment operating loss (12,271 ) (23,664 ) (42,576 ) (101,309 ) Transaction expenses 882 341 1,755 571 Goodwill and intangible asset impairment 638 — 68,642 — Loss on sale of assets and other 128 2,217 1,517 2,233 Operating loss $ (13,919 ) $ (26,222 ) $ (114,490 ) $ (104,113 ) A summary of consolidated assets by reportable segment is as follows (in thousands): September 30, December 31, Assets Drilling & Subsea $ 650,136 $ 766,234 Completions 768,998 696,208 Production & Infrastructure 241,433 175,940 Corporate 154,288 196,810 Total assets $ 1,814,855 $ 1,835,192 Corporate assets include, among other items, prepaid assets, cash and deferred financing costs.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies In the ordinary course of business, the Company is, and in the future could be, involved in various pending or threatened legal actions that may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are considered to be probable and can be reasonably estimated. The reserves accrued at September 30, 2017 and December 31, 2016 , respectively, are immaterial. It is management's opinion that the Company's ultimate liability, if any, with respect to these actions is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts): Three months ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net loss attributable to common stockholders $ (14,828 ) $ (17,989 ) $ (108,469 ) $ (69,469 ) Average shares outstanding (basic) 96,275 90,860 96,103 90,682 Common stock equivalents — — — — Diluted shares 96,275 90,860 96,103 90,682 Loss per share Basic loss per share $ (0.15 ) $ (0.20 ) $ (1.13 ) $ (0.77 ) Diluted loss per share $ (0.15 ) $ (0.20 ) $ (1.13 ) $ (0.77 ) The diluted loss per share calculation excludes all stock options for the three and nine months ended September 30, 2017 and September 30, 2016 because there was a net loss for the periods.

Stockholders' equity

Stockholders' equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' equity	Stockholders' equity Shares issued for Acquisition Subsequent to September 30, 2017 , the Company issued 11.5 million shares to acquire the remaining membership interests in Global Tubing. See Note 15 for further information. Share-based compensation During the nine months ended September 30, 2017 , the Company granted 278,958 options and 971,722 shares of restricted stock or restricted stock units, which includes 124,213 performance share awards with a market condition. The stock options were granted with an exercise price of $20.10 . Of the restricted stock or restricted stock units granted, 789,762 generally vest ratably over four years on each anniversary of the date of grant. 55,971 shares of restricted stock or restricted stock units were granted to the non-employee members of the Board of Directors, which have a twelve month vesting period from the date of grant. The performance share awards granted may settle for between zero and two shares of the Company's common stock. The number of shares issued pursuant to the performance share awards will be determined based on the total shareholder return of the Company's common stock as compared to a group of peer companies, measured annually over a one year , two year and three year performance period.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related party transactions	Related party transactions The Company has sold and purchased equipment and services to and from certain affiliates of our directors. The dollar amounts related to these related party activities are not material to the Company’s condensed consolidated financial statements.

Subsequent event

Subsequent event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent event On October 2, 2017, the Company acquired the remaining membership interests in Global Tubing from its joint venture partner and management for total consideration of approximately $294.0 million , including approximately $120.5 million in cash and approximately 11.5 million shares of the Company’s common stock. The Company acquired Global Tubing with a joint venture partner in 2013. Prior to acquiring a 100% ownership interest in Global Tubing, the Company reported this investment through its Completions segment using the equity method of accounting. Located in Dayton, Texas, Global Tubing provides coiled tubing, coiled line pipe and related services to customers worldwide.

Condensed consolidating financi

Condensed consolidating financial statements	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed consolidating financial statements	Condensed consolidating financial statements The Senior Notes are guaranteed by our domestic subsidiaries which are 100% owned, directly or indirectly, by the Company. The guarantees are full and unconditional, joint and several, and on an unsecured basis. Condensed consolidating statements of comprehensive income (loss) Three months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Net sales $ — $ 171,031 $ 43,121 $ (15,443 ) $ 198,709 Cost of sales — 133,503 32,877 (15,230 ) 151,150 Gross profit — 37,528 10,244 (213 ) 47,559 Operating expenses Selling, general and administrative expenses — 51,127 12,064 — 63,191 Transaction expenses — 882 — — 882 Goodwill and intangible asset impairment — 638 — — 638 Loss on sale of assets and other — 91 37 — 128 Total operating expenses — 52,738 12,101 — 64,839 Earnings from equity investment — 3,361 — — 3,361 Equity earnings from affiliate, net of tax (10,467 ) (3,959 ) — 14,426 — Operating income (loss) (10,467 ) (15,808 ) (1,857 ) 14,213 (13,919 ) Other expense (income) Interest expense (income) 6,710 (188 ) (156 ) — 6,366 Deferred loan costs written off — — — — — Foreign exchange (gains) losses and other, net — (110 ) 2,470 — 2,360 Total other expense (income) 6,710 (298 ) 2,314 — 8,726 Income (loss) before income taxes (17,177 ) (15,510 ) (4,171 ) 14,213 (22,645 ) Benefit for income tax expense (2,349 ) (5,043 ) (425 ) — (7,817 ) Net income (loss) (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Less: Income (loss) attributable to noncontrolling interest — — — — — Net income (loss) attributable to common stockholders (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Other comprehensive income (loss), net of tax: Net income (loss) (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Change in foreign currency translation, net of tax of $0 11,547 11,547 11,547 (23,094 ) 11,547 Change in pension liability (36 ) (36 ) (36 ) 72 (36 ) Comprehensive income (loss) (3,317 ) 1,044 7,765 (8,809 ) (3,317 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to common stockholders $ (3,317 ) $ 1,044 $ 7,765 $ (8,809 ) $ (3,317 ) Condensed consolidating statements of comprehensive income (loss) Three months ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Net sales $ — $ 101,357 $ 44,869 $ (7,958 ) $ 138,268 Cost of sales — 81,250 36,767 (9,033 ) 108,984 Gross profit — 20,107 8,102 1,075 29,284 Operating expenses Selling, general and administrative expenses — 42,569 10,793 — 53,362 Transaction Expense — 306 35 — 341 Loss (gain) on sale of assets and other — 2,130 87 — 2,217 Total operating expenses — 45,005 10,915 — 55,920 Earnings from equity investment — 414 — — 414 Equity earnings from affiliates, net of tax (13,579 ) 1,620 — 11,959 — Operating income (loss) (13,579 ) (22,864 ) (2,813 ) 13,034 (26,222 ) Other expense (income) Interest expense (income) 6,785 (84 ) 45 — 6,746 Foreign exchange gains and other, net — (19 ) (3,133 ) — (3,152 ) Total other expense (income) 6,785 (103 ) (3,088 ) — 3,594 Income before income taxes (20,364 ) (22,761 ) 275 13,034 (29,816 ) Provision for income tax expense (benefit) (2,375 ) (9,182 ) (264 ) — (11,821 ) Net income (loss) (17,989 ) (13,579 ) 539 13,034 (17,995 ) Less: Income (loss) attributable to noncontrolling interest — — (6 ) — (6 ) Net income (loss) attributable to common stockholders (17,989 ) (13,579 ) 545 13,034 (17,989 ) Other comprehensive income (loss), net of tax: Net income (loss) (17,989 ) (13,579 ) 539 13,034 (17,995 ) Change in foreign currency translation, net of tax of $0 (6,243 ) (6,243 ) (6,243 ) 12,486 (6,243 ) Change in pension liability (14 ) (14 ) (14 ) 28 (14 ) Comprehensive income (loss) (24,246 ) (19,836 ) (5,718 ) 25,548 (24,252 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — (27 ) — (27 ) Comprehensive income (loss) attributable to common stockholders $ (24,246 ) $ (19,836 ) $ (5,745 ) $ 25,548 $ (24,279 ) Condensed consolidating statements of comprehensive income (loss) Nine months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 486,683 $ 133,798 $ (49,561 ) $ 570,920 Cost of sales — 375,990 108,390 (49,253 ) 435,127 Gross profit — 110,693 25,408 (308 ) 135,793 Operating expenses Selling, general and administrative expenses — 149,030 36,730 — 185,760 Transaction expenses — 1,644 111 — 1,755 Goodwill and intangible asset impairment — 32,881 35,761 — 68,642 Loss on sale of assets and other — 1,433 84 — 1,517 Total operating expenses — 184,988 72,686 — 257,674 Earnings from equity investment — 7,391 — — 7,391 Equity earnings from affiliates, net of tax (95,415 ) (48,535 ) — 143,950 — Operating income (loss) (95,415 ) (115,439 ) (47,278 ) 143,642 (114,490 ) Other expense (income) Interest expense (income) 20,083 (374 ) (378 ) — 19,331 Foreign exchange (gains) losses and other, net — (297 ) 6,805 — 6,508 Total other expense (income) 20,083 (671 ) 6,427 — 25,839 Income (loss) before income taxes (115,498 ) (114,768 ) (53,705 ) 143,642 (140,329 ) Provision (benefit) for income tax expense (7,029 ) (19,353 ) (5,478 ) — (31,860 ) Net income (loss) (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Less: Income (loss) attributable to noncontrolling interest — — — — — Net income (loss) attributable to common stockholders (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Other comprehensive income (loss), net of tax: Net income (loss) (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Change in foreign currency translation, net of tax of $0 34,094 34,094 34,094 (68,188 ) 34,094 Change in pension liability (133 ) (133 ) (133 ) 266 (133 ) Comprehensive income (loss) (74,508 ) (61,454 ) (14,266 ) 75,720 (74,508 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to common stockholders $ (74,508 ) $ (61,454 ) $ (14,266 ) $ 75,720 $ (74,508 ) Condensed consolidating statements of comprehensive income (loss) Nine Months Ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 321,734 $ 151,383 $ (32,685 ) $ 440,432 Cost of sales — 281,666 123,631 (33,987 ) 371,310 Gross profit — 40,068 27,752 1,302 69,122 Operating expenses Selling, general and administrative expenses — 137,099 34,539 — 171,638 Transaction expenses — 536 35 — 571 Loss (gain) on sale of assets and other — 2,310 (77 ) — 2,233 Total operating expenses — 139,945 34,497 — 174,442 Earnings from equity investment — 1,207 — — 1,207 Equity earnings from affiliates, net of tax (54,323 ) 7,765 — 46,558 — Operating income (loss) (54,323 ) (90,905 ) (6,745 ) 47,860 (104,113 ) Other expense (income) Interest expense (income) 20,713 (97 ) 48 — 20,664 Deferred loan costs written off 2,588 — — — 2,588 Foreign exchange gains and other, net — (553 ) (13,993 ) — (14,546 ) Total other expense (income) 23,301 (650 ) (13,945 ) — 8,706 Income (loss) before income taxes (77,624 ) (90,255 ) 7,200 47,860 (112,819 ) Provision (benefit) for income tax expense (8,155 ) (35,932 ) 713 — (43,374 ) Net income (loss) (69,469 ) (54,323 ) 6,487 47,860 (69,445 ) Less: Income (loss) attributable to noncontrolling interest — — 24 — 24 Net income (loss) attributable to common stockholders (69,469 ) (54,323 ) 6,463 47,860 (69,469 ) Other comprehensive income (loss), net of tax: Net income (loss) (69,469 ) (54,323 ) 6,487 47,860 (69,445 ) Change in foreign currency translation, net of tax of $0 (25,618 ) (25,618 ) (25,618 ) 51,236 (25,618 ) Change in pension liability (33 ) (33 ) (33 ) 66 (33 ) Comprehensive income (loss) (95,120 ) (79,974 ) (19,164 ) 99,162 (95,096 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — (156 ) — (156 ) Comprehensive income (loss) attributable to common stockholders $ (95,120 ) $ (79,974 ) $ (19,320 ) $ 99,162 $ (95,252 ) Condensed consolidating balance sheets September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ 413 $ 86,552 $ 69,427 $ — $ 156,392 Accounts receivable—trade, net — 121,199 33,177 — 154,376 Inventories — 324,444 78,407 (8,748 ) 394,103 Income tax receivable — 1,872 — — 1,872 Cost and profits in excess of billings — 8,515 880 — 9,395 Other current assets — 16,251 11,454 — 27,705 Total current assets 413 558,833 193,345 (8,748 ) 743,843 Property and equipment, net of accumulated depreciation — 122,196 26,820 — 149,016 Deferred financing costs, net 657 — — — 657 Deferred income taxes, net — 1,279 8,440 — 9,719 Intangibles — 171,865 52,700 — 224,565 Goodwill — 467,337 152,295 — 619,632 Investment in unconsolidated subsidiary — 64,499 — — 64,499 Investment in affiliates 1,020,649 443,255 — (1,463,904 ) — Long-term advances to affiliates 566,987 — 76,105 (643,092 ) — Other long-term assets — 2,260 664 — 2,924 Total assets $ 1,588,706 $ 1,831,524 $ 510,369 $ (2,115,744 ) $ 1,814,855 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,023 $ 110 $ — $ 1,133 Accounts payable—trade — 104,244 18,904 — 123,148 Accrued liabilities 12,877 41,691 10,150 — 64,718 Deferred revenue — 3,889 4,617 — 8,506 Billings in excess of costs and profits — 1,018 512 — 1,530 Total current liabilities 12,877 151,865 34,293 — 199,035 Long-term debt, net of current portion 397,187 949 9 — 398,145 Long-term payables to affiliates — 643,092 — (643,092 ) — Deferred income taxes, net — — 4,175 — 4,175 Other long-term liabilities — 14,969 19,889 — 34,858 Total liabilities 410,064 810,875 58,366 (643,092 ) 636,213 Total stockholder's equity 1,178,642 1,020,649 452,003 (1,472,652 ) 1,178,642 Noncontrolling interest in subsidiary — — — — — Equity 1,178,642 1,020,649 452,003 (1,472,652 ) 1,178,642 Total liabilities and equity $ 1,588,706 $ 1,831,524 $ 510,369 $ (2,115,744 ) $ 1,814,855 Condensed consolidating balance sheets December 31, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ 65 $ 143,275 $ 91,082 $ — $ 234,422 Accounts receivable—trade, net — 77,229 28,039 — 105,268 Inventories — 269,036 77,987 (8,440 ) 338,583 Income tax receivable — 32,801 — — 32,801 Cost and profits in excess of billings — 4,477 4,722 — 9,199 Other current assets — 21,013 8,430 — 29,443 Total current assets 65 547,831 210,260 (8,440 ) 749,716 Property and equipment, net of accumulated depreciation — 127,094 25,118 — 152,212 Deferred financing costs, net 1,112 — — — 1,112 Deferred income taxes, net — — 851 — 851 Intangibles — 166,437 49,981 — 216,418 Goodwill — 481,374 171,369 — 652,743 Investment in unconsolidated subsidiary — 59,140 — — 59,140 Investment in affiliates 1,080,337 460,166 — (1,540,503 ) — Long-term advances to affiliates 557,061 — 71,057 (628,118 ) — Other long-term assets — 2,322 678 — 3,000 Total assets $ 1,638,575 $ 1,844,364 $ 529,314 $ (2,177,061 ) $ 1,835,192 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 23 $ 101 $ — $ 124 Accounts payable—trade — 59,261 14,514 — 73,775 Accrued liabilities 6,708 40,630 8,266 — 55,604 Deferred revenue — 1,206 7,132 — 8,338 Billings in excess of costs and profits recognized — 1,799 2,205 — 4,004 Total current liabilities 6,708 102,919 32,218 — 141,845 Long-term debt, net of current portion 396,665 — 82 — 396,747 Long-term payables to affiliates — 628,118 — (628,118 ) — Deferred income taxes, net — 17,650 8,535 — 26,185 Other long-term liabilities — 15,340 19,314 — 34,654 Total liabilities 403,373 764,027 60,149 (628,118 ) 599,431 Total stockholder's equity 1,235,202 1,080,337 468,606 (1,548,943 ) 1,235,202 Noncontrolling interest in subsidiary — — 559 — 559 Equity 1,235,202 1,080,337 469,165 (1,548,943 ) 1,235,761 Total liabilities and equity $ 1,638,575 $ 1,844,364 $ 529,314 $ (2,177,061 ) $ 1,835,192 Condensed consolidating statements of cash flows Nine months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from (used in) operating activities $ (7,671 ) $ 2,262 $ (11,674 ) $ — $ (17,083 ) Cash flows from investing activities Acquisition of businesses, net of cash acquired — (42,204 ) (5,686 ) — (47,890 ) Capital expenditures for property and equipment — (14,625 ) (5,031 ) — (19,656 ) Investment in unconsolidated subsidiary — (1,041 ) — — — (1,041 ) Long-term loans and advances to affiliates 9,790 7,902 — (17,692 ) — Other — 1,849 — — 1,849 Net cash provided by (used in) investing activities $ 9,790 $ (48,119 ) $ (10,717 ) $ (17,692 ) $ (66,738 ) Cash flows from financing activities Repayment of long-term and short-term debt — (1,076 ) (64 ) — (1,140 ) Long-term loans and advances to affiliates — (9,790 ) (7,902 ) 17,692 — Net treasury shares withheld (4,667 ) — — — (4,667 ) Proceeds from stock issuance 2,896 — — — 2,896 Net cash provided by (used in) financing activities $ (1,771 ) $ (10,866 ) $ (7,966 ) $ 17,692 $ (2,911 ) Effect of exchange rate changes on cash — — 8,702 — 8,702 Net increase (decrease) in cash and cash equivalents 348 (56,723 ) (21,655 ) — (78,030 ) Cash and cash equivalents Beginning of period 65 143,275 91,082 — 234,422 End of period $ 413 $ 86,552 $ 69,427 $ — $ 156,392 Condensed consolidating statements of cash flows Nine Months Ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from (used in) operating activities $ (6,940 ) $ 20,042 $ 51,118 $ (20,000 ) $ 44,220 Cash flows from investing activities Acquisition of businesses, net of cash acquired — (2,700 ) — — (2,700 ) Capital expenditures for property and equipment — (9,530 ) (3,908 ) — (13,438 ) Long-term loans and advances to affiliates 6,049 3,148 — (9,197 ) — Other — 3,389 321 — 3,710 Net cash provided by (used in) investing activities $ 6,049 $ (5,693 ) $ (3,587 ) $ (9,197 ) $ (12,428 ) Cash flows from financing activities Repayment of long-term debt — (254 ) — — (254 ) Long-term loans and advances to affiliates — (6,049 ) (3,148 ) 9,197 — Dividend paid to affiliates — — (20,000 ) 20,000 — Other 956 — — — 956 Net cash provided by (used in) financing activities $ 956 $ (6,303 ) $ (23,148 ) $ 29,197 $ 702 Effect of exchange rate changes on cash — — (9,209 ) — (9,209 ) Net increase (decrease) in cash and cash equivalents 65 8,046 15,174 — 23,285 Cash and cash equivalents Beginning of period — 36,884 72,365 — 109,249 End of period $ 65 $ 44,930 $ 87,539 $ — $ 132,534

Recent accounting pronounceme23

Recent accounting pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB"), which are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. In September 2017, the FASB issued Accounting Standard Updates ("ASU") No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments. This ASU codifies the text of the SEC announcement, as it relates to revenue recognition and leases. The ASU also rescinds certain codified SEC announcements and comments that are no longer applicable upon adoption of ASU No. 2014-09 and ASU No. 2016-02. These recent accounting pronouncements related to revenue and leases are discussed later in this footnote. In May 2017, the FASB issued ASU No. 2017-09 Compensation - Stock Compensation (Topic 718) - Scope of Modification Accounting, which clarifies when to account for a change to the terms or conditions of a share based payment award as a modification. Under the new ASU, an entity should apply modification accounting unless the fair value, the vesting conditions, and the classification of the award as equity or liability of the modified award all remain the same as the original award. The ASU should be adopted prospectively for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-04 Intangibles- Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test where the implied fair value of goodwill needs to be determined and compared to the carrying amount of that goodwill to measure the impairment loss. The Company is required to adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company has early adopted the standard in the first quarter of 2017. During the second quarter of 2017, the Company applied this new ASU to perform the goodwill impairment analysis. See Note 6, Goodwill and intangible assets for more details. In January 2017, the FASB issued ASU No. 2017-01 Business Combination (Topic 805) - Clarifying the Definition of a Business, in an effort to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance will be effective for annual periods beginning after December 15, 2017, including interim periods within those periods, and is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230) - Restricted Cash a consensus of the FASB Emerging Issues Task Force. This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, and is not expected to have a material impact on the Company's consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16 Income Tax (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This new guidance eliminates this exception and requires the income tax consequences of an intra-entity transfer of an asset other than inventory be recognized when the transfer occurs. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods, and should be applied on a modified retrospective basis through a direct cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The ASU is not expected to have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-15 Cash Flow Statement (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice, including: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The only issue currently relevant to the Company is distributions received from equity method investees, where the new guidance allows an accounting policy election between the cumulative earnings approach and the nature of the distribution approach. The Company will continue to use the cumulative earnings approach, therefore the guidance is not expected to have a material impact on the Company's consolidated financial statements. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. This new guidance includes provisions intended to simplify how share-based payments are accounted for and presented in the financial statements. The Company applied the update prospectively beginning January 1, 2017. This guidance did not have a material impact on the Company's Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, Leases. Under this new guidance, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of greater than twelve months. The standard will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of the adoption of this guidance. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. Entities must apply a five-step process to (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 also mandates disclosure of sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The disclosure requirements include qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The guidance permits the entity to use either a full retrospective or modified retrospective transition method. The FASB issued several subsequent updates in 2015 through 2017 containing implementation guidance related to the new standard. These standards provide additional guidance related to principal versus agent considerations, licensing, and identifying performance obligations. Additionally, these standards provide narrow-scope improvements and practical expedients as well as technical corrections and improvements. Overall, the new guidance is to be effective for the fiscal year beginning after December 15, 2017. Companies are able to early adopt the pronouncement, but not before fiscal years beginning after December 15, 2016. The Company is currently evaluating the impact of the pending adoption of the revised guidance. The status of implementation is as follows: • The Company has put in place an implementation team to provide training and to review contracts subject to the new revenue standard. • The implementation team continues to review contracts for the areas identified during the initial impact assessment and monitor the potential impact on the Company’s financial statements and related disclosures. • The implementation team is putting new processes and controls in place in anticipation of the new guidance. • The implementation team is providing internal training and awareness related to the revised guidance to key stakeholders throughout our organization. The Company will adopt this standard using the modified retrospective method and elect to apply the revenue standard only to contracts that are not completed as of the date of initial application. The Company does not expect a material adjustment to the consolidated financial statements upon transition.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions	The following table summarizes the current fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands): 2017 Acquisitions Current assets, net of cash acquired $ 3,767 Property and equipment 96 Intangible assets (primarily developed technologies and customer relationships) 17,211 Tax-deductible goodwill 16,711 Non-tax deductible goodwill 2,623 Current liabilities (1,014 ) Long-term liabilities — Net assets acquired $ 39,394

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory	The Company's significant components of inventory at September 30, 2017 and December 31, 2016 were as follows (in thousands): September 30, December 31, Raw materials and parts $ 119,572 $ 106,329 Work in process 45,580 23,303 Finished goods 290,657 277,303 Gross inventories 455,809 406,935 Inventory reserve (61,706 ) (68,352 ) Inventories $ 394,103 $ 338,583

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill from December 31, 2016 to September 30, 2017 , were as follows (in thousands): Drilling & Subsea Completions Production & Infrastructure Total Goodwill Balance at December 31, 2016 $ 307,806 $ 327,293 $ 17,644 $ 652,743 Acquisitions, net of dispositions — 19,334 1,311 20,645 Impairment (68,004 ) — — (68,004 ) Impact of non-U.S. local currency translation 10,288 3,710 250 14,248 Goodwill Balance at September 30, 2017 $ 250,090 $ 350,337 $ 19,205 $ 619,632
Summary of Intangible Assets	Intangible assets consisted of the following as of September 30, 2017 and December 31, 2016 , respectively (in thousands): September 30, 2017 Gross carrying amount Accumulated amortization Net amortizable intangibles Amortization period (in years) Customer relationships $ 280,116 $ (131,030 ) $ 149,086 4-15 Patents and technology 52,260 (14,797 ) 37,463 5-17 Non-compete agreements 6,621 (5,950 ) 671 3-6 Trade names 46,813 (20,836 ) 25,977 10-15 Distributor relationships 22,160 (16,022 ) 6,138 8-15 Trademark 5,230 — 5,230 Indefinite Intangible Assets Total $ 413,200 $ (188,635 ) $ 224,565 December 31, 2016 Gross carrying amount Accumulated amortization Net amortizable intangibles Amortization period (in years) Customer relationships $ 270,586 $ (115,381 ) $ 155,205 4-15 Patents and technology 33,936 (12,225 ) 21,711 5-17 Non-compete agreements 6,230 (5,594 ) 636 3-6 Trade names 44,494 (17,944 ) 26,550 10-15 Distributor relationships 22,160 (15,074 ) 7,086 8-15 Trademark 5,230 — 5,230 Indefinite Intangible Assets Total $ 382,636 $ (166,218 ) $ 216,418

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Debt	Notes payable and lines of credit as of September 30, 2017 and December 31, 2016 consisted of the following (in thousands): September 30, December 31, 6.25% Senior Notes due October 2021 $ 400,000 $ 400,000 Unamortized debt premium 1,684 1,989 Debt issuance cost (4,497 ) (5,324 ) Senior secured revolving credit facility — — Other debt 2,091 206 Total debt 399,278 396,871 Less: current maturities (1,133 ) (124 ) Long-term debt $ 398,145 $ 396,747

Business segments (Tables)

Business segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summary financial data by segment follows (in thousands): Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Revenue: Drilling & Subsea $ 54,700 $ 50,565 $ 180,607 $ 170,120 Completions 60,037 34,393 156,938 95,920 Production & Infrastructure 84,979 54,030 235,676 176,364 Intersegment eliminations (1,007 ) (720 ) (2,301 ) (1,972 ) Total Revenue $ 198,709 $ 138,268 $ 570,920 $ 440,432 Operating income (loss): Drilling & Subsea $ (8,872 ) $ (10,869 ) $ (23,580 ) $ (41,545 ) Completions 1,614 (5,676 ) (1,223 ) (39,838 ) Production & Infrastructure 4,258 (713 ) 7,124 494 Corporate (9,271 ) (6,406 ) (24,897 ) (20,420 ) Total segment operating loss (12,271 ) (23,664 ) (42,576 ) (101,309 ) Transaction expenses 882 341 1,755 571 Goodwill and intangible asset impairment 638 — 68,642 — Loss on sale of assets and other 128 2,217 1,517 2,233 Operating loss $ (13,919 ) $ (26,222 ) $ (114,490 ) $ (104,113 ) A summary of consolidated assets by reportable segment is as follows (in thousands): September 30, December 31, Assets Drilling & Subsea $ 650,136 $ 766,234 Completions 768,998 696,208 Production & Infrastructure 241,433 175,940 Corporate 154,288 196,810 Total assets $ 1,814,855 $ 1,835,192

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts): Three months ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net loss attributable to common stockholders $ (14,828 ) $ (17,989 ) $ (108,469 ) $ (69,469 ) Average shares outstanding (basic) 96,275 90,860 96,103 90,682 Common stock equivalents — — — — Diluted shares 96,275 90,860 96,103 90,682 Loss per share Basic loss per share $ (0.15 ) $ (0.20 ) $ (1.13 ) $ (0.77 ) Diluted loss per share $ (0.15 ) $ (0.20 ) $ (1.13 ) $ (0.77 )

Condensed consolidating finan30

Condensed consolidating financial statements (Tables)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed consolidating statements of income and comprehensive income (loss)	Condensed consolidating statements of comprehensive income (loss) Three months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Net sales $ — $ 171,031 $ 43,121 $ (15,443 ) $ 198,709 Cost of sales — 133,503 32,877 (15,230 ) 151,150 Gross profit — 37,528 10,244 (213 ) 47,559 Operating expenses Selling, general and administrative expenses — 51,127 12,064 — 63,191 Transaction expenses — 882 — — 882 Goodwill and intangible asset impairment — 638 — — 638 Loss on sale of assets and other — 91 37 — 128 Total operating expenses — 52,738 12,101 — 64,839 Earnings from equity investment — 3,361 — — 3,361 Equity earnings from affiliate, net of tax (10,467 ) (3,959 ) — 14,426 — Operating income (loss) (10,467 ) (15,808 ) (1,857 ) 14,213 (13,919 ) Other expense (income) Interest expense (income) 6,710 (188 ) (156 ) — 6,366 Deferred loan costs written off — — — — — Foreign exchange (gains) losses and other, net — (110 ) 2,470 — 2,360 Total other expense (income) 6,710 (298 ) 2,314 — 8,726 Income (loss) before income taxes (17,177 ) (15,510 ) (4,171 ) 14,213 (22,645 ) Benefit for income tax expense (2,349 ) (5,043 ) (425 ) — (7,817 ) Net income (loss) (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Less: Income (loss) attributable to noncontrolling interest — — — — — Net income (loss) attributable to common stockholders (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Other comprehensive income (loss), net of tax: Net income (loss) (14,828 ) (10,467 ) (3,746 ) 14,213 (14,828 ) Change in foreign currency translation, net of tax of $0 11,547 11,547 11,547 (23,094 ) 11,547 Change in pension liability (36 ) (36 ) (36 ) 72 (36 ) Comprehensive income (loss) (3,317 ) 1,044 7,765 (8,809 ) (3,317 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to common stockholders $ (3,317 ) $ 1,044 $ 7,765 $ (8,809 ) $ (3,317 ) Condensed consolidating statements of comprehensive income (loss) Three months ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Net sales $ — $ 101,357 $ 44,869 $ (7,958 ) $ 138,268 Cost of sales — 81,250 36,767 (9,033 ) 108,984 Gross profit — 20,107 8,102 1,075 29,284 Operating expenses Selling, general and administrative expenses — 42,569 10,793 — 53,362 Transaction Expense — 306 35 — 341 Loss (gain) on sale of assets and other — 2,130 87 — 2,217 Total operating expenses — 45,005 10,915 — 55,920 Earnings from equity investment — 414 — — 414 Equity earnings from affiliates, net of tax (13,579 ) 1,620 — 11,959 — Operating income (loss) (13,579 ) (22,864 ) (2,813 ) 13,034 (26,222 ) Other expense (income) Interest expense (income) 6,785 (84 ) 45 — 6,746 Foreign exchange gains and other, net — (19 ) (3,133 ) — (3,152 ) Total other expense (income) 6,785 (103 ) (3,088 ) — 3,594 Income before income taxes (20,364 ) (22,761 ) 275 13,034 (29,816 ) Provision for income tax expense (benefit) (2,375 ) (9,182 ) (264 ) — (11,821 ) Net income (loss) (17,989 ) (13,579 ) 539 13,034 (17,995 ) Less: Income (loss) attributable to noncontrolling interest — — (6 ) — (6 ) Net income (loss) attributable to common stockholders (17,989 ) (13,579 ) 545 13,034 (17,989 ) Other comprehensive income (loss), net of tax: Net income (loss) (17,989 ) (13,579 ) 539 13,034 (17,995 ) Change in foreign currency translation, net of tax of $0 (6,243 ) (6,243 ) (6,243 ) 12,486 (6,243 ) Change in pension liability (14 ) (14 ) (14 ) 28 (14 ) Comprehensive income (loss) (24,246 ) (19,836 ) (5,718 ) 25,548 (24,252 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — (27 ) — (27 ) Comprehensive income (loss) attributable to common stockholders $ (24,246 ) $ (19,836 ) $ (5,745 ) $ 25,548 $ (24,279 ) Condensed consolidating statements of comprehensive income (loss) Nine months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 486,683 $ 133,798 $ (49,561 ) $ 570,920 Cost of sales — 375,990 108,390 (49,253 ) 435,127 Gross profit — 110,693 25,408 (308 ) 135,793 Operating expenses Selling, general and administrative expenses — 149,030 36,730 — 185,760 Transaction expenses — 1,644 111 — 1,755 Goodwill and intangible asset impairment — 32,881 35,761 — 68,642 Loss on sale of assets and other — 1,433 84 — 1,517 Total operating expenses — 184,988 72,686 — 257,674 Earnings from equity investment — 7,391 — — 7,391 Equity earnings from affiliates, net of tax (95,415 ) (48,535 ) — 143,950 — Operating income (loss) (95,415 ) (115,439 ) (47,278 ) 143,642 (114,490 ) Other expense (income) Interest expense (income) 20,083 (374 ) (378 ) — 19,331 Foreign exchange (gains) losses and other, net — (297 ) 6,805 — 6,508 Total other expense (income) 20,083 (671 ) 6,427 — 25,839 Income (loss) before income taxes (115,498 ) (114,768 ) (53,705 ) 143,642 (140,329 ) Provision (benefit) for income tax expense (7,029 ) (19,353 ) (5,478 ) — (31,860 ) Net income (loss) (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Less: Income (loss) attributable to noncontrolling interest — — — — — Net income (loss) attributable to common stockholders (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Other comprehensive income (loss), net of tax: Net income (loss) (108,469 ) (95,415 ) (48,227 ) 143,642 (108,469 ) Change in foreign currency translation, net of tax of $0 34,094 34,094 34,094 (68,188 ) 34,094 Change in pension liability (133 ) (133 ) (133 ) 266 (133 ) Comprehensive income (loss) (74,508 ) (61,454 ) (14,266 ) 75,720 (74,508 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to common stockholders $ (74,508 ) $ (61,454 ) $ (14,266 ) $ 75,720 $ (74,508 ) Condensed consolidating statements of comprehensive income (loss) Nine Months Ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 321,734 $ 151,383 $ (32,685 ) $ 440,432 Cost of sales — 281,666 123,631 (33,987 ) 371,310 Gross profit — 40,068 27,752 1,302 69,122 Operating expenses Selling, general and administrative expenses — 137,099 34,539 — 171,638 Transaction expenses — 536 35 — 571 Loss (gain) on sale of assets and other — 2,310 (77 ) — 2,233 Total operating expenses — 139,945 34,497 — 174,442 Earnings from equity investment — 1,207 — — 1,207 Equity earnings from affiliates, net of tax (54,323 ) 7,765 — 46,558 — Operating income (loss) (54,323 ) (90,905 ) (6,745 ) 47,860 (104,113 ) Other expense (income) Interest expense (income) 20,713 (97 ) 48 — 20,664 Deferred loan costs written off 2,588 — — — 2,588 Foreign exchange gains and other, net — (553 ) (13,993 ) — (14,546 ) Total other expense (income) 23,301 (650 ) (13,945 ) — 8,706 Income (loss) before income taxes (77,624 ) (90,255 ) 7,200 47,860 (112,819 ) Provision (benefit) for income tax expense (8,155 ) (35,932 ) 713 — (43,374 ) Net income (loss) (69,469 ) (54,323 ) 6,487 47,860 (69,445 ) Less: Income (loss) attributable to noncontrolling interest — — 24 — 24 Net income (loss) attributable to common stockholders (69,469 ) (54,323 ) 6,463 47,860 (69,469 ) Other comprehensive income (loss), net of tax: Net income (loss) (69,469 ) (54,323 ) 6,487 47,860 (69,445 ) Change in foreign currency translation, net of tax of $0 (25,618 ) (25,618 ) (25,618 ) 51,236 (25,618 ) Change in pension liability (33 ) (33 ) (33 ) 66 (33 ) Comprehensive income (loss) (95,120 ) (79,974 ) (19,164 ) 99,162 (95,096 ) Less: comprehensive (income) loss attributable to noncontrolling interests — — (156 ) — (156 ) Comprehensive income (loss) attributable to common stockholders $ (95,120 ) $ (79,974 ) $ (19,320 ) $ 99,162 $ (95,252 )
Condensed consolidating balance sheets	Condensed consolidating balance sheets September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ 413 $ 86,552 $ 69,427 $ — $ 156,392 Accounts receivable—trade, net — 121,199 33,177 — 154,376 Inventories — 324,444 78,407 (8,748 ) 394,103 Income tax receivable — 1,872 — — 1,872 Cost and profits in excess of billings — 8,515 880 — 9,395 Other current assets — 16,251 11,454 — 27,705 Total current assets 413 558,833 193,345 (8,748 ) 743,843 Property and equipment, net of accumulated depreciation — 122,196 26,820 — 149,016 Deferred financing costs, net 657 — — — 657 Deferred income taxes, net — 1,279 8,440 — 9,719 Intangibles — 171,865 52,700 — 224,565 Goodwill — 467,337 152,295 — 619,632 Investment in unconsolidated subsidiary — 64,499 — — 64,499 Investment in affiliates 1,020,649 443,255 — (1,463,904 ) — Long-term advances to affiliates 566,987 — 76,105 (643,092 ) — Other long-term assets — 2,260 664 — 2,924 Total assets $ 1,588,706 $ 1,831,524 $ 510,369 $ (2,115,744 ) $ 1,814,855 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,023 $ 110 $ — $ 1,133 Accounts payable—trade — 104,244 18,904 — 123,148 Accrued liabilities 12,877 41,691 10,150 — 64,718 Deferred revenue — 3,889 4,617 — 8,506 Billings in excess of costs and profits — 1,018 512 — 1,530 Total current liabilities 12,877 151,865 34,293 — 199,035 Long-term debt, net of current portion 397,187 949 9 — 398,145 Long-term payables to affiliates — 643,092 — (643,092 ) — Deferred income taxes, net — — 4,175 — 4,175 Other long-term liabilities — 14,969 19,889 — 34,858 Total liabilities 410,064 810,875 58,366 (643,092 ) 636,213 Total stockholder's equity 1,178,642 1,020,649 452,003 (1,472,652 ) 1,178,642 Noncontrolling interest in subsidiary — — — — — Equity 1,178,642 1,020,649 452,003 (1,472,652 ) 1,178,642 Total liabilities and equity $ 1,588,706 $ 1,831,524 $ 510,369 $ (2,115,744 ) $ 1,814,855 Condensed consolidating balance sheets December 31, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ 65 $ 143,275 $ 91,082 $ — $ 234,422 Accounts receivable—trade, net — 77,229 28,039 — 105,268 Inventories — 269,036 77,987 (8,440 ) 338,583 Income tax receivable — 32,801 — — 32,801 Cost and profits in excess of billings — 4,477 4,722 — 9,199 Other current assets — 21,013 8,430 — 29,443 Total current assets 65 547,831 210,260 (8,440 ) 749,716 Property and equipment, net of accumulated depreciation — 127,094 25,118 — 152,212 Deferred financing costs, net 1,112 — — — 1,112 Deferred income taxes, net — — 851 — 851 Intangibles — 166,437 49,981 — 216,418 Goodwill — 481,374 171,369 — 652,743 Investment in unconsolidated subsidiary — 59,140 — — 59,140 Investment in affiliates 1,080,337 460,166 — (1,540,503 ) — Long-term advances to affiliates 557,061 — 71,057 (628,118 ) — Other long-term assets — 2,322 678 — 3,000 Total assets $ 1,638,575 $ 1,844,364 $ 529,314 $ (2,177,061 ) $ 1,835,192 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 23 $ 101 $ — $ 124 Accounts payable—trade — 59,261 14,514 — 73,775 Accrued liabilities 6,708 40,630 8,266 — 55,604 Deferred revenue — 1,206 7,132 — 8,338 Billings in excess of costs and profits recognized — 1,799 2,205 — 4,004 Total current liabilities 6,708 102,919 32,218 — 141,845 Long-term debt, net of current portion 396,665 — 82 — 396,747 Long-term payables to affiliates — 628,118 — (628,118 ) — Deferred income taxes, net — 17,650 8,535 — 26,185 Other long-term liabilities — 15,340 19,314 — 34,654 Total liabilities 403,373 764,027 60,149 (628,118 ) 599,431 Total stockholder's equity 1,235,202 1,080,337 468,606 (1,548,943 ) 1,235,202 Noncontrolling interest in subsidiary — — 559 — 559 Equity 1,235,202 1,080,337 469,165 (1,548,943 ) 1,235,761 Total liabilities and equity $ 1,638,575 $ 1,844,364 $ 529,314 $ (2,177,061 ) $ 1,835,192
Condensed consolidating statements of cash flows	Condensed consolidating statements of cash flows Nine months ended September 30, 2017 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from (used in) operating activities $ (7,671 ) $ 2,262 $ (11,674 ) $ — $ (17,083 ) Cash flows from investing activities Acquisition of businesses, net of cash acquired — (42,204 ) (5,686 ) — (47,890 ) Capital expenditures for property and equipment — (14,625 ) (5,031 ) — (19,656 ) Investment in unconsolidated subsidiary — (1,041 ) — — — (1,041 ) Long-term loans and advances to affiliates 9,790 7,902 — (17,692 ) — Other — 1,849 — — 1,849 Net cash provided by (used in) investing activities $ 9,790 $ (48,119 ) $ (10,717 ) $ (17,692 ) $ (66,738 ) Cash flows from financing activities Repayment of long-term and short-term debt — (1,076 ) (64 ) — (1,140 ) Long-term loans and advances to affiliates — (9,790 ) (7,902 ) 17,692 — Net treasury shares withheld (4,667 ) — — — (4,667 ) Proceeds from stock issuance 2,896 — — — 2,896 Net cash provided by (used in) financing activities $ (1,771 ) $ (10,866 ) $ (7,966 ) $ 17,692 $ (2,911 ) Effect of exchange rate changes on cash — — 8,702 — 8,702 Net increase (decrease) in cash and cash equivalents 348 (56,723 ) (21,655 ) — (78,030 ) Cash and cash equivalents Beginning of period 65 143,275 91,082 — 234,422 End of period $ 413 $ 86,552 $ 69,427 $ — $ 156,392 Condensed consolidating statements of cash flows Nine Months Ended September 30, 2016 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from (used in) operating activities $ (6,940 ) $ 20,042 $ 51,118 $ (20,000 ) $ 44,220 Cash flows from investing activities Acquisition of businesses, net of cash acquired — (2,700 ) — — (2,700 ) Capital expenditures for property and equipment — (9,530 ) (3,908 ) — (13,438 ) Long-term loans and advances to affiliates 6,049 3,148 — (9,197 ) — Other — 3,389 321 — 3,710 Net cash provided by (used in) investing activities $ 6,049 $ (5,693 ) $ (3,587 ) $ (9,197 ) $ (12,428 ) Cash flows from financing activities Repayment of long-term debt — (254 ) — — (254 ) Long-term loans and advances to affiliates — (6,049 ) (3,148 ) 9,197 — Dividend paid to affiliates — — (20,000 ) 20,000 — Other 956 — — — 956 Net cash provided by (used in) financing activities $ 956 $ (6,303 ) $ (23,148 ) $ 29,197 $ 702 Effect of exchange rate changes on cash — — (9,209 ) — (9,209 ) Net increase (decrease) in cash and cash equivalents 65 8,046 15,174 — 23,285 Cash and cash equivalents Beginning of period — 36,884 72,365 — 109,249 End of period $ 65 $ 44,930 $ 87,539 $ — $ 132,534

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Jan. 09, 2017	Jul. 03, 2017
Innovative Valve Components and Cooper Valves, LLC
Business Acquisition [Line Items]
Business acquisition percentage of ownership	100.00%
Acquisition consideration	$ 14,000
Stock issued	$ 4,500
Multilift
Business Acquisition [Line Items]
Net assets acquired		$ 39,394

Acquisitions (Schedule of Busin

Acquisitions (Schedule of Business Acquisitions) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jul. 03, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Non-tax deductible goodwill	$ 619,632		$ 652,743
Multilift
Business Acquisition [Line Items]
Current assets, net of cash acquired		$ 3,767
Property and equipment		96
Intangible assets (primarily developed technologies and customer relationships)		17,211
Tax-deductible goodwill		16,711
Non-tax deductible goodwill		2,623
Current liabilities		(1,014)
Long-term liabilities		0
Net assets acquired		$ 39,394

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials and parts	$ 119,572	$ 106,329
Work in process	45,580	23,303
Finished goods	290,657	277,303
Gross inventories	455,809	406,935
Inventory reserve	(61,706)	(68,352)
Inventories	$ 394,103	$ 338,583

Goodwill and intangible asset34

Goodwill and intangible assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill Beginning Balance		$ 652,743
Acquisitions, net of dispositions		20,645
Impairment		(68,004)
Impact of non-U.S. local currency translation		14,248
Goodwill Ending Balance		619,632
Accumulated impairment loss on goodwill		236,800	$ 168,800
Drilling & Subsea
Goodwill [Roll Forward]
Goodwill Beginning Balance		307,806
Acquisitions, net of dispositions		0
Impairment		(68,004)
Impact of non-U.S. local currency translation		10,288
Goodwill Ending Balance		250,090
Completions
Goodwill [Roll Forward]
Goodwill Beginning Balance		327,293
Acquisitions, net of dispositions		19,334
Impairment		0
Impact of non-U.S. local currency translation		3,710
Goodwill Ending Balance		350,337
Production & Infrastructure
Goodwill [Roll Forward]
Goodwill Beginning Balance		17,644
Acquisitions, net of dispositions		1,311
Impairment		0
Impact of non-U.S. local currency translation		250
Goodwill Ending Balance		$ 19,205
Subsea Technologies
Goodwill [Roll Forward]
Impairment	$ (68,000)

Goodwill and intangible asset35

Goodwill and intangible assets (Finite-Lived and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (188,635)	$ (188,635)	$ (166,218)
Intangible Assets Total, Gross carrying amount	413,200	413,200	382,636
Intangible Assets Total, Net amortizable intangibles	224,565	224,565	216,418
Trademark
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	5,230	5,230	5,230
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	280,116	280,116	270,586
Accumulated amortization	(131,030)	(131,030)	(115,381)
Net amortizable intangibles	149,086	149,086	155,205
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	52,260	52,260	33,936
Accumulated amortization	(14,797)	(14,797)	(12,225)
Net amortizable intangibles	37,463	37,463	21,711
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,621	6,621	6,230
Accumulated amortization	(5,950)	(5,950)	(5,594)
Net amortizable intangibles	671	671	636
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	46,813	46,813	44,494
Accumulated amortization	(20,836)	(20,836)	(17,944)
Net amortizable intangibles	25,977	25,977	26,550
Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	22,160	22,160	22,160
Accumulated amortization	(16,022)	(16,022)	(15,074)
Net amortizable intangibles	6,138	$ 6,138	$ 7,086
Minimum | Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		4 years	4 years
Minimum | Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		5 years	5 years
Minimum | Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		3 years	3 years
Minimum | Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		10 years	10 years
Minimum | Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		8 years	8 years
Maximum | Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		15 years	15 years
Maximum | Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		17 years	17 years
Maximum | Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		6 years	6 years
Maximum | Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		15 years	15 years
Maximum | Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period		15 years	15 years
Subsea Technologies
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Impairment loss on intangible assets	$ 600

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 399,278,000	$ 396,871,000
Unamortized debt premium	1,684,000	1,989,000
Debt issuance cost	(4,497,000)	(5,324,000)
Less: current maturities	(1,133,000)	(124,000)
Long-term debt	398,145,000	396,747,000
6.25% Senior Notes due October 2021
Debt Instrument [Line Items]
Total debt	400,000,000	400,000,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Total debt	0	0
Other debt
Debt Instrument [Line Items]
Total debt	$ 2,091,000	$ 206,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Oct. 30, 2017	Sep. 30, 2017	Dec. 31, 2016	Dec. 12, 2016	Feb. 25, 2016
Debt Instrument [Line Items]
Debt instrument, carrying value		$ 399,278,000	$ 396,871,000
Senior Notes
Debt Instrument [Line Items]
Debt stated interest rate		6.25%
Debt instrument, carrying value		$ 400,000,000	400,000,000
Credit Facility
Debt Instrument [Line Items]
Debt instrument, carrying value		0	0
Line of credit outstanding		0	$ 0
Line of credit facility, remaining borrowing capacity		$ 113,300,000
Weighted average interest rates		3.00%	3.00%
Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 200,000,000
Line of credit facility, current borrowing capacity				$ 140,000,000
Credit Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300,000,000
Line of credit facility, current borrowing capacity	140,000,000
Line of credit facility, remaining borrowing capacity	$ 20,000,000
Percentage of borrowing base (as a percentage)	10.00%
Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				25,000,000
Line of credit outstanding		$ 7,300,000
Credit Facility | Letter of Credit | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000,000
Credit Facility | Letter of Credit | Subsequent Event | Canadian Subsidiaries
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	3,000,000
Credit Facility | Swingline Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 10,000,000
Credit Facility | Foreign Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 30,000,000

Income taxes (Narrative) (Detai

Income taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	34.50%	39.60%	22.70%	38.40%

Fair value measurements (Narrat

Fair value measurements (Narrative) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 399,278,000	$ 396,871,000
Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Line of credit outstanding	0	0
Debt instrument, carrying value	0	0
Credit Facility | Letter of Credit
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Line of credit outstanding	7,300,000
6.25% Senior Notes due October 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	400,000,000	400,000,000
6.25% Senior Notes due October 2021 | Carrying Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	401,700,000	402,000,000
6.25% Senior Notes due October 2021 | Fair Value, Inputs, Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	$ 402,700,000	$ 402,000,000

Business segments (Income State

Business segments (Income Statement by Segment) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			3
Segment Reporting Information [Line Items]
Net revenues	$ 198,709	$ 138,268	$ 570,920	$ 440,432
Operating income	(13,919)	(26,222)	(114,490)	(104,113)
Transaction expenses	882	341	1,755	571
Goodwill and intangible asset impairment	638	0	68,642	0
Loss on sale of assets and other	128	2,217	1,517	2,233
Operating Segments
Segment Reporting Information [Line Items]
Operating income	(12,271)	(23,664)	(42,576)	(101,309)
Operating Segments | Drilling & Subsea
Segment Reporting Information [Line Items]
Net revenues	54,700	50,565	180,607	170,120
Operating income	(8,872)	(10,869)	(23,580)	(41,545)
Operating Segments | Completions
Segment Reporting Information [Line Items]
Net revenues	60,037	34,393	156,938	95,920
Operating income	1,614	(5,676)	(1,223)	(39,838)
Operating Segments | Production & Infrastructure
Segment Reporting Information [Line Items]
Net revenues	84,979	54,030	235,676	176,364
Operating income	4,258	(713)	7,124	494
Intersegment eliminations
Segment Reporting Information [Line Items]
Net revenues	(1,007)	(720)	(2,301)	(1,972)
Corporate
Segment Reporting Information [Line Items]
Operating income	$ (9,271)	$ (6,406)	$ (24,897)	$ (20,420)

Business segments (Assets by Se

Business segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 1,814,855	$ 1,835,192
Operating Segments | Drilling & Subsea
Segment Reporting Information [Line Items]
Assets	650,136	766,234
Operating Segments | Completions
Segment Reporting Information [Line Items]
Assets	768,998	696,208
Operating Segments | Production & Infrastructure
Segment Reporting Information [Line Items]
Assets	241,433	175,940
Corporate
Segment Reporting Information [Line Items]
Assets	$ 154,288	$ 196,810

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net loss attributable to common stockholders	$ (14,828)	$ (17,989)	$ (108,469)	$ (69,469)
Average shares outstanding (basic) (in shares)	96,275	90,860	96,103	90,682
Common stock equivalents (in shares)	0	0	0	0
Diluted shares (in shares)	96,275	90,860	96,103	90,682
Loss per share
Basic loss per share (in dollars per share)	$ (0.15)	$ (0.20)	$ (1.13)	$ (0.77)
Diluted loss per share (in dollars per share)	$ (0.15)	$ (0.20)	$ (1.13)	$ (0.77)

Stockholders' equity (Share-bas

Stockholders' equity (Share-based compensation) (Details) - $ / shares	Oct. 02, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted (in shares)		278,958
Granted stock options, exercise price (in dollars per share)		$ 20.10
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)		971,722
Restricted Stock and Restricted Stock Units | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)		55,971
Award vesting period		12 months
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)		124,213
Performance Shares | Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period		1 year
Performance Shares | Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period		2 years
Performance Shares | Share-based Compensation Award, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period		3 years
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio		0
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio		2
Restricted Stock and Restricted Stock Units with Specified Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)		789,762
Award vesting period		4 years
Global Tubing, LLC | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in acquisition (in shares)	11,500,000

Subsequent event (Details)

Subsequent event (Details) - Global Tubing, LLC - Subsequent Event shares in Millions, $ in Millions	Oct. 02, 2017USD ($)shares
Subsequent Event [Line Items]
Acquisition consideration	$ 294
Payments to acquire business	$ 120.5
Number of shares issued in acquisition (in shares) | shares	11.5
Ownership interest (as a percentage)	100.00%

Condensed consolidating finan45

Condensed consolidating financial statements (Condensed consolidating statements of income and comprehensive income (loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Statements of Income and Comprehensive Income [Line Items]
Net sales	$ 198,709	$ 138,268	$ 570,920	$ 440,432
Cost of sales	151,150	108,984	435,127	371,310
Gross profit	47,559	29,284	135,793	69,122
Operating expenses
Selling, general and administrative expenses	63,191	53,362	185,760	171,638
Transaction expenses	882	341	1,755	571
Goodwill and intangible asset impairment	638	0	68,642	0
Loss on sale of assets and other	128	2,217	1,517	2,233
Total operating expenses	64,839	55,920	257,674	174,442
Earnings from equity investment	3,361	414	7,391	1,207
Equity earnings from affiliate, net of tax	0	0	0	0
Operating income (loss)	(13,919)	(26,222)	(114,490)	(104,113)
Other expense (income)
Interest expense	6,366	6,746	19,331	20,664
Deferred financing costs written off	0	0	0	2,588
Foreign exchange (gains) losses and other, net	2,360	(3,152)	6,508	(14,546)
Total other expense	8,726	3,594	25,839	8,706
Loss before income taxes	(22,645)	(29,816)	(140,329)	(112,819)
Income tax benefit	(7,817)	(11,821)	(31,860)	(43,374)
Net loss	(14,828)	(17,995)	(108,469)	(69,445)
Less: Income (loss) attributable to noncontrolling interest	0	(6)	0	24
Net loss attributable to common stockholders	(14,828)	(17,989)	(108,469)	(69,469)
Other comprehensive income (loss), net of tax:
Net loss	(14,828)	(17,995)	(108,469)	(69,445)
Change in foreign currency translation, net of tax of $0	11,547	(6,243)	34,094	(25,618)
Loss on pension liability	(36)	(14)	(133)	(33)
Comprehensive loss	(3,317)	(24,252)	(74,508)	(95,096)
Less: comprehensive income attributable to noncontrolling interests	0	(27)	0	(156)
Comprehensive loss attributable to common stockholders	(3,317)	(24,279)	(74,508)	(95,252)
Change in foreign currency translation, tax	0	0	0	0
Reportable Legal Entities | FET Inc. (Parent)
Condensed Statements of Income and Comprehensive Income [Line Items]
Net sales	0	0	0	0
Cost of sales	0	0	0	0
Gross profit	0	0	0	0
Operating expenses
Selling, general and administrative expenses	0	0	0	0
Transaction expenses	0	0	0	0
Goodwill and intangible asset impairment	0		0
Loss on sale of assets and other	0	0	0	0
Total operating expenses	0	0	0	0
Earnings from equity investment	0	0	0	0
Equity earnings from affiliate, net of tax	(10,467)	(13,579)	(95,415)	(54,323)
Operating income (loss)	(10,467)	(13,579)	(95,415)	(54,323)
Other expense (income)
Interest expense	6,710	6,785	20,083	20,713
Deferred financing costs written off	0			2,588
Foreign exchange (gains) losses and other, net	0	0	0	0
Total other expense	6,710	6,785	20,083	23,301
Loss before income taxes	(17,177)	(20,364)	(115,498)	(77,624)
Income tax benefit	(2,349)	(2,375)	(7,029)	(8,155)
Net loss	(14,828)	(17,989)	(108,469)	(69,469)
Less: Income (loss) attributable to noncontrolling interest	0	0	0	0
Net loss attributable to common stockholders	(14,828)	(17,989)	(108,469)	(69,469)
Other comprehensive income (loss), net of tax:
Net loss	(14,828)	(17,989)	(108,469)	(69,469)
Change in foreign currency translation, net of tax of $0	11,547	(6,243)	34,094	(25,618)
Loss on pension liability	(36)	(14)	(133)	(33)
Comprehensive loss	(3,317)	(24,246)	(74,508)	(95,120)
Less: comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive loss attributable to common stockholders	(3,317)	(24,246)	(74,508)	(95,120)
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Net sales	171,031	101,357	486,683	321,734
Cost of sales	133,503	81,250	375,990	281,666
Gross profit	37,528	20,107	110,693	40,068
Operating expenses
Selling, general and administrative expenses	51,127	42,569	149,030	137,099
Transaction expenses	882	306	1,644	536
Goodwill and intangible asset impairment	638		32,881
Loss on sale of assets and other	91	2,130	1,433	2,310
Total operating expenses	52,738	45,005	184,988	139,945
Earnings from equity investment	3,361	414	7,391	1,207
Equity earnings from affiliate, net of tax	(3,959)	1,620	(48,535)	7,765
Operating income (loss)	(15,808)	(22,864)	(115,439)	(90,905)
Other expense (income)
Interest expense	(188)	(84)	(374)	(97)
Deferred financing costs written off	0			0
Foreign exchange (gains) losses and other, net	(110)	(19)	(297)	(553)
Total other expense	(298)	(103)	(671)	(650)
Loss before income taxes	(15,510)	(22,761)	(114,768)	(90,255)
Income tax benefit	(5,043)	(9,182)	(19,353)	(35,932)
Net loss	(10,467)	(13,579)	(95,415)	(54,323)
Less: Income (loss) attributable to noncontrolling interest	0	0	0	0
Net loss attributable to common stockholders	(10,467)	(13,579)	(95,415)	(54,323)
Other comprehensive income (loss), net of tax:
Net loss	(10,467)	(13,579)	(95,415)	(54,323)
Change in foreign currency translation, net of tax of $0	11,547	(6,243)	34,094	(25,618)
Loss on pension liability	(36)	(14)	(133)	(33)
Comprehensive loss	1,044	(19,836)	(61,454)	(79,974)
Less: comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive loss attributable to common stockholders	1,044	(19,836)	(61,454)	(79,974)
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Net sales	43,121	44,869	133,798	151,383
Cost of sales	32,877	36,767	108,390	123,631
Gross profit	10,244	8,102	25,408	27,752
Operating expenses
Selling, general and administrative expenses	12,064	10,793	36,730	34,539
Transaction expenses	0	35	111	35
Goodwill and intangible asset impairment	0		35,761
Loss on sale of assets and other	37	87	84	(77)
Total operating expenses	12,101	10,915	72,686	34,497
Earnings from equity investment	0	0	0	0
Equity earnings from affiliate, net of tax	0	0	0	0
Operating income (loss)	(1,857)	(2,813)	(47,278)	(6,745)
Other expense (income)
Interest expense	(156)	45	(378)	48
Deferred financing costs written off	0			0
Foreign exchange (gains) losses and other, net	2,470	(3,133)	6,805	(13,993)
Total other expense	2,314	(3,088)	6,427	(13,945)
Loss before income taxes	(4,171)	275	(53,705)	7,200
Income tax benefit	(425)	(264)	(5,478)	713
Net loss	(3,746)	539	(48,227)	6,487
Less: Income (loss) attributable to noncontrolling interest	0	(6)	0	24
Net loss attributable to common stockholders	(3,746)	545	(48,227)	6,463
Other comprehensive income (loss), net of tax:
Net loss	(3,746)	539	(48,227)	6,487
Change in foreign currency translation, net of tax of $0	11,547	(6,243)	34,094	(25,618)
Loss on pension liability	(36)	(14)	(133)	(33)
Comprehensive loss	7,765	(5,718)	(14,266)	(19,164)
Less: comprehensive income attributable to noncontrolling interests	0	(27)	0	(156)
Comprehensive loss attributable to common stockholders	7,765	(5,745)	(14,266)	(19,320)
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Net sales	(15,443)	(7,958)	(49,561)	(32,685)
Cost of sales	(15,230)	(9,033)	(49,253)	(33,987)
Gross profit	(213)	1,075	(308)	1,302
Operating expenses
Selling, general and administrative expenses	0	0	0	0
Transaction expenses	0	0	0	0
Goodwill and intangible asset impairment	0		0
Loss on sale of assets and other	0	0	0	0
Total operating expenses	0	0	0	0
Earnings from equity investment	0	0	0	0
Equity earnings from affiliate, net of tax	14,426	11,959	143,950	46,558
Operating income (loss)	14,213	13,034	143,642	47,860
Other expense (income)
Interest expense	0	0	0	0
Deferred financing costs written off	0			0
Foreign exchange (gains) losses and other, net	0	0	0	0
Total other expense	0	0	0	0
Loss before income taxes	14,213	13,034	143,642	47,860
Income tax benefit	0	0	0	0
Net loss	14,213	13,034	143,642	47,860
Less: Income (loss) attributable to noncontrolling interest	0	0	0	0
Net loss attributable to common stockholders	14,213	13,034	143,642	47,860
Other comprehensive income (loss), net of tax:
Net loss	14,213	13,034	143,642	47,860
Change in foreign currency translation, net of tax of $0	(23,094)	12,486	(68,188)	51,236
Loss on pension liability	72	28	266	66
Comprehensive loss	(8,809)	25,548	75,720	99,162
Less: comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive loss attributable to common stockholders	$ (8,809)	$ 25,548	$ 75,720	$ 99,162

Condensed consolidating finan46

Condensed consolidating financial statements (Condensed consolidating balance sheets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 156,392	$ 234,422	$ 132,534	$ 109,249
Accounts receivable—trade, net	154,376	105,268
Inventories, net	394,103	338,583
Income tax receivable	1,872	32,801
Costs and estimated profits in excess of billings	9,395	9,199
Other current assets	27,705	29,443
Total current assets	743,843	749,716
Property and equipment, net of accumulated depreciation	149,016	152,212
Deferred financing costs, net	657	1,112
Deferred income taxes, net	9,719	851
Intangible assets	224,565	216,418
Goodwill	619,632	652,743
Investment in unconsolidated subsidiary	64,499	59,140
Investment in affiliates	0	0
Long-term advances to affiliates	0	0
Other long-term assets	2,924	3,000
Total assets	1,814,855	1,835,192
Current liabilities
Current portion of long-term debt	1,133	124
Accounts payable—trade	123,148	73,775
Accrued liabilities	64,718	55,604
Deferred revenue	8,506	8,338
Billings in excess of costs and profits recognized	1,530	4,004
Total current liabilities	199,035	141,845
Long-term debt, net of current portion	398,145	396,747
Long-term payables to affiliates	0	0
Deferred income taxes, net	4,175	26,185
Other long-term liabilities	34,858	34,654
Total liabilities	636,213	599,431
Total stockholder's equity	1,178,642	1,235,202
Noncontrolling interest in subsidiary	0	559
Total equity	1,178,642	1,235,761
Total liabilities and equity	1,814,855	1,835,192
Reportable Legal Entities | FET Inc. (Parent)
Current assets
Cash and cash equivalents	413	65	65	0
Accounts receivable—trade, net	0	0
Inventories, net	0	0
Income tax receivable	0	0
Costs and estimated profits in excess of billings	0	0
Other current assets	0	0
Total current assets	413	65
Property and equipment, net of accumulated depreciation	0	0
Deferred financing costs, net	657	1,112
Deferred income taxes, net	0	0
Intangible assets	0	0
Goodwill	0	0
Investment in unconsolidated subsidiary	0	0
Investment in affiliates	1,020,649	1,080,337
Long-term advances to affiliates	566,987	557,061
Other long-term assets	0	0
Total assets	1,588,706	1,638,575
Current liabilities
Current portion of long-term debt	0	0
Accounts payable—trade	0	0
Accrued liabilities	12,877	6,708
Deferred revenue	0	0
Billings in excess of costs and profits recognized	0	0
Total current liabilities	12,877	6,708
Long-term debt, net of current portion	397,187	396,665
Long-term payables to affiliates	0	0
Deferred income taxes, net	0	0
Other long-term liabilities	0	0
Total liabilities	410,064	403,373
Total stockholder's equity	1,178,642	1,235,202
Noncontrolling interest in subsidiary	0	0
Total equity	1,178,642	1,235,202
Total liabilities and equity	1,588,706	1,638,575
Reportable Legal Entities | Guarantor Subsidiaries
Current assets
Cash and cash equivalents	86,552	143,275	44,930	36,884
Accounts receivable—trade, net	121,199	77,229
Inventories, net	324,444	269,036
Income tax receivable	1,872	32,801
Costs and estimated profits in excess of billings	8,515	4,477
Other current assets	16,251	21,013
Total current assets	558,833	547,831
Property and equipment, net of accumulated depreciation	122,196	127,094
Deferred financing costs, net	0	0
Deferred income taxes, net	1,279	0
Intangible assets	171,865	166,437
Goodwill	467,337	481,374
Investment in unconsolidated subsidiary	64,499	59,140
Investment in affiliates	443,255	460,166
Long-term advances to affiliates	0	0
Other long-term assets	2,260	2,322
Total assets	1,831,524	1,844,364
Current liabilities
Current portion of long-term debt	1,023	23
Accounts payable—trade	104,244	59,261
Accrued liabilities	41,691	40,630
Deferred revenue	3,889	1,206
Billings in excess of costs and profits recognized	1,018	1,799
Total current liabilities	151,865	102,919
Long-term debt, net of current portion	949	0
Long-term payables to affiliates	643,092	628,118
Deferred income taxes, net	0	17,650
Other long-term liabilities	14,969	15,340
Total liabilities	810,875	764,027
Total stockholder's equity	1,020,649	1,080,337
Noncontrolling interest in subsidiary	0	0
Total equity	1,020,649	1,080,337
Total liabilities and equity	1,831,524	1,844,364
Reportable Legal Entities | Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	69,427	91,082	87,539	72,365
Accounts receivable—trade, net	33,177	28,039
Inventories, net	78,407	77,987
Income tax receivable	0	0
Costs and estimated profits in excess of billings	880	4,722
Other current assets	11,454	8,430
Total current assets	193,345	210,260
Property and equipment, net of accumulated depreciation	26,820	25,118
Deferred financing costs, net	0	0
Deferred income taxes, net	8,440	851
Intangible assets	52,700	49,981
Goodwill	152,295	171,369
Investment in unconsolidated subsidiary	0	0
Investment in affiliates	0	0
Long-term advances to affiliates	76,105	71,057
Other long-term assets	664	678
Total assets	510,369	529,314
Current liabilities
Current portion of long-term debt	110	101
Accounts payable—trade	18,904	14,514
Accrued liabilities	10,150	8,266
Deferred revenue	4,617	7,132
Billings in excess of costs and profits recognized	512	2,205
Total current liabilities	34,293	32,218
Long-term debt, net of current portion	9	82
Long-term payables to affiliates	0	0
Deferred income taxes, net	4,175	8,535
Other long-term liabilities	19,889	19,314
Total liabilities	58,366	60,149
Total stockholder's equity	452,003	468,606
Noncontrolling interest in subsidiary	0	559
Total equity	452,003	469,165
Total liabilities and equity	510,369	529,314
Eliminations
Current assets
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable—trade, net	0	0
Inventories, net	(8,748)	(8,440)
Income tax receivable	0	0
Costs and estimated profits in excess of billings	0	0
Other current assets	0	0
Total current assets	(8,748)	(8,440)
Property and equipment, net of accumulated depreciation	0	0
Deferred financing costs, net	0	0
Deferred income taxes, net	0	0
Intangible assets	0	0
Goodwill	0	0
Investment in unconsolidated subsidiary	0	0
Investment in affiliates	(1,463,904)	(1,540,503)
Long-term advances to affiliates	(643,092)	(628,118)
Other long-term assets	0	0
Total assets	(2,115,744)	(2,177,061)
Current liabilities
Current portion of long-term debt	0	0
Accounts payable—trade	0	0
Accrued liabilities	0	0
Deferred revenue	0	0
Billings in excess of costs and profits recognized	0	0
Total current liabilities	0	0
Long-term debt, net of current portion	0	0
Long-term payables to affiliates	(643,092)	(628,118)
Deferred income taxes, net	0	0
Other long-term liabilities	0	0
Total liabilities	(643,092)	(628,118)
Total stockholder's equity	(1,472,652)	(1,548,943)
Noncontrolling interest in subsidiary	0	0
Total equity	(1,472,652)	(1,548,943)
Total liabilities and equity	$ (2,115,744)	$ (2,177,061)

Condensed consolidating finan47

Condensed consolidating financial statements (Condensed consolidating statements of cash flows) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from (used in) operating activities	$ (17,083)	$ 44,220
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(47,890)	(2,700)
Capital expenditures for property and equipment	(19,656)	(13,438)
Investment in unconsolidated subsidiary	(1,041)	0
Long-term loans and advances to affiliates	0	0
Other	1,849	3,710
Net cash used in investing activities	(66,738)	(12,428)
Cash flows from financing activities
Repayment of long-term and short-term debt	(1,140)	(254)
Long-term loans and advances to affiliates	0	0
Net treasury shares withheld	(4,667)	(1,273)
Proceeds from stock issuance	2,896	2,742
Dividend paid to affiliates		0
Other		956
Net cash provided by (used in) financing activities	(2,911)	702
Effect of exchange rate changes on cash	8,702	(9,209)
Net increase (decrease) in cash and cash equivalents	(78,030)	23,285
Cash and cash equivalents
Beginning of period	234,422	109,249
End of period	156,392	132,534
Reportable Legal Entities | FET Inc. (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from (used in) operating activities	(7,671)	(6,940)
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	0	0
Capital expenditures for property and equipment	0	0
Investment in unconsolidated subsidiary	0
Long-term loans and advances to affiliates	9,790	6,049
Other	0	0
Net cash used in investing activities	9,790	6,049
Cash flows from financing activities
Repayment of long-term and short-term debt	0	0
Long-term loans and advances to affiliates	0	0
Net treasury shares withheld	(4,667)
Proceeds from stock issuance	2,896
Dividend paid to affiliates		0
Other		956
Net cash provided by (used in) financing activities	(1,771)	956
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	348	65
Cash and cash equivalents
Beginning of period	65	0
End of period	413	65
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from (used in) operating activities	2,262	20,042
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(42,204)	(2,700)
Capital expenditures for property and equipment	(14,625)	(9,530)
Investment in unconsolidated subsidiary	(1,041)
Long-term loans and advances to affiliates	7,902	3,148
Other	1,849	3,389
Net cash used in investing activities	(48,119)	(5,693)
Cash flows from financing activities
Repayment of long-term and short-term debt	(1,076)	(254)
Long-term loans and advances to affiliates	(9,790)	(6,049)
Net treasury shares withheld	0
Proceeds from stock issuance	0
Dividend paid to affiliates		0
Other		0
Net cash provided by (used in) financing activities	(10,866)	(6,303)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	(56,723)	8,046
Cash and cash equivalents
Beginning of period	143,275	36,884
End of period	86,552	44,930
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from (used in) operating activities	(11,674)	51,118
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(5,686)	0
Capital expenditures for property and equipment	(5,031)	(3,908)
Investment in unconsolidated subsidiary	0
Long-term loans and advances to affiliates	0	0
Other	0	321
Net cash used in investing activities	(10,717)	(3,587)
Cash flows from financing activities
Repayment of long-term and short-term debt	(64)	0
Long-term loans and advances to affiliates	(7,902)	(3,148)
Net treasury shares withheld	0
Proceeds from stock issuance	0
Dividend paid to affiliates		(20,000)
Other		0
Net cash provided by (used in) financing activities	(7,966)	(23,148)
Effect of exchange rate changes on cash	8,702	(9,209)
Net increase (decrease) in cash and cash equivalents	(21,655)	15,174
Cash and cash equivalents
Beginning of period	91,082	72,365
End of period	69,427	87,539
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from (used in) operating activities	0	(20,000)
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	0	0
Capital expenditures for property and equipment	0	0
Investment in unconsolidated subsidiary	0
Long-term loans and advances to affiliates	(17,692)	(9,197)
Other	0	0
Net cash used in investing activities	(17,692)	(9,197)
Cash flows from financing activities
Repayment of long-term and short-term debt	0	0
Long-term loans and advances to affiliates	17,692	9,197
Net treasury shares withheld	0
Proceeds from stock issuance	0
Dividend paid to affiliates		20,000
Other		0
Net cash provided by (used in) financing activities	17,692	29,197
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents
Beginning of period	0	0
End of period	$ 0	$ 0